China Galaxy Securities: In the second half of the year, large model technology is expected to further promote the iterative development of related AI applications

China Galaxy Securities pointed out that the commercialization of domestic AI + education and human resources products continues to advance, and in the second half of the year, large model technology is expected to further promote the iterative development of related AI applications. Since Q2, the commercialization of AI + education and human resources applications has been accelerating: 1) DouShen Education's AI CLASS product officially launched, with GMV exceeding 17.4 million by July 30; 2) FENBI's AI + civil service exam product, the AI question-answering system class launched in April, has achieved sales exceeding 14 million in two months, with the number of paid students surpassing 40,000, and annual sales are expected to exceed 100 million; 3) In AI + human resources, Career International's HeWa platform released 9 comprehensive recruitment tools with the launch of AI 2.0, and its Match System has been applied in multiple scenarios such as customer acquisition, talent search, and internal collaboration. This system is expected to be integrated into the HeWa platform in the second half of the year. The company leverages the advantages of large models in semantic understanding and information matching to intelligently replace repetitive tasks, shorten recruitment cycles, and significantly optimize the accuracy and efficiency of job matching. Considering that OpenAI and Deepseek will respectively release the latest large model technology within the year, coupled with the continuous iteration of product functions through user data accumulation, we expect AI + education and human resources to transition from thematic investment to commercialization realization