智通财经APP获悉，美图公司(01357)再涨超3%，近三日累计涨幅近四成。截至发稿，涨2.86%，报4.33港元，成交额4.25亿港元。
华泰证券发布研报称，DeepSeek在算力成本节约和开源方面实现了里程碑式的突破，对美图类AI垂类应用是重要利好：实现算力成本重大突破，改变了以往对于高额投入、高端算力的依赖，显著降低资本开支门槛；开源模式推动技术平权，DeepSeek推理能力比肩OpenAI o1，但完全开源的模式打破了美国对基座模型的技术垄断，利好广大中小厂商AI底层能力的提升。
该行续指，DeepSeek等底层大模型进步使得AI应用公司的竞争要素重要性或由算法、算力向产品力转移。美图AI模型技术除自研之外，与DeepSeek、豆包、可灵均有测试合作，美图在产品、工作流、美学垂类领域积累的优势或在通用大模型进阶下得到进一步赋能，当前公司AI应用已形成较好商业闭环，代表产品美图设计室付费率超6%。国内产品成熟的同时公司积极推出生产力产品出海，生产力全球化经营数据进展或带来催化。
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