During Tuesday's trading session, the broader A-share market showed weakness, with the Shanghai Composite Index falling 1.13% to 3,935.09 points, while the STAR 50 Index dropped 2.05% to 1,613.83 points. On the news front, the Ministry of Industry and Information Technology has officially initiated a special campaign to cultivate artificial intelligence application service providers, with the goal of developing a cohort of AI service vendors that possess deep industry expertise and robust scenario-based implementation capabilities.

This policy measure is designed to favor companies operating at the AI application layer; however, the sector is retreating in tandem with the broader market today, as most software service providers trade lower. This development represents a policy signal pointing toward the accelerated commercialization of AI applications, with short-term momentum being suppressed by overall market sentiment, while the medium-to-long-term narrative revolves around scenario-specific implementation and the realization of business results.

Policy Focus on Industry Know-How and Scenario-Based Implementation, Benefiting Vertical Software Vendors

The special campaign explicitly aims to cultivate AI application service providers with strong industry penetration and scenario implementation capabilities. This suggests that software enterprises equipped with accumulated industry knowledge and experience in vertical application scenarios will receive favorable policy support. Compared with general-purpose large language model companies, the policy's emphasis leans more toward implementation-oriented service providers capable of embedding AI capabilities into specific business workflows across sectors such as finance, healthcare, and manufacturing, with industry-specific know-how becoming the core criterion for selection.

Accelerated Integration of AI with the Real Economy Expands Commercialization Opportunities

The policy objective is to advance the deep integration of artificial intelligence technology with the real economy, accelerating the scaled deployment of AI across a diverse range of industries. As the application service provider cultivation framework gradually takes shape, the pace of AI transitioning from technical validation to commercial delivery is expected to quicken. This should strengthen software vendors' ability to secure paying scenarios and fulfill orders, leaving room for upward revisions in market expectations regarding AI application monetization.

Investors Must Distinguish Genuine Business Execution Capability and Monitor Specific Support Measures and Selected Lists

While the policy direction is clearly constructive, the pace of implementation will hinge on subsequent concrete support measures and the roster of selected enterprises. Given that valuations in the AI application segment have already partially factored in these expectations, investors are advised to carefully evaluate companies' actual business execution capabilities, distinguishing between concept-driven speculation and genuine commercialization progress. Going forward, key attention should be directed toward detailed support policy guidelines and the first batch of cultivated enterprises.

Analysis of Key Target Stocks

iFlytek Co., Ltd. (002230.SZ): As a leading domestic AI application developer, the company has amassed deep expertise in vertical segments including education, healthcare, and office solutions. It stands as a direct beneficiary of the AI application service provider cultivation policy. The stock traded at 39.56 yuan during the session, down 1.64%, with transaction volume of approximately 467 million yuan.

Kingsoft Office Software, Inc. (688111.SH): A frontrunner in domestic office software, the company demonstrates exceptional capability in embedding AI into office environments, with its WPS AI commercialization progress maintaining a leading position. The stock traded at 241.14 yuan during the session, down 2.51%, with transaction volume of approximately 566 million yuan.

Yonyou Network Technology Co., Ltd. (600588.SH): As a leader in domestic enterprise-grade software, the company possesses industry know-how in digital transformation scenarios spanning manufacturing and financial operations. The stock traded at 10.13 yuan during the session, down 2.50%, with transaction volume of approximately 251 million yuan.

Hundsun Technologies Inc. (600570.SH): A leading financial IT provider with deep roots in financial vertical scenarios, the company demonstrates strong capabilities in deploying AI across asset management and trading applications. The stock traded at 21.82 yuan during the session, down 1.76%, with transaction volume of approximately 222 million yuan.

Investment Channel Considerations

The Software ETF E Fund (562930) focuses on domestic software service providers, covering AI application implementation scenarios in office, financial, and enterprise software segments. It serves as one of the most direct on-exchange vehicles reflecting this round of AI application commercialization policy, with an intraday decline of 2.07%.

The Cloud Computing ETF E Fund (516510) covers cloud computing and AI infrastructure-related targets, functioning as the foundational infrastructure vehicle for the scaled deployment of AI applications, with an intraday decline of 1.92%.