Ping An Securities: Mainland Manus recommends the world's first universal AI Agent product to accelerate deep applications.

Ping An Securities released a research report stating that the Chinese AI startup company Monica.im announced the launch of the world's first general AI Agent product, Manus (early preview version), which achieves the advancement of AI products from "brain" to "hand" and may accelerate the deep application of AI in various industries, providing strong support for the rapid growth of computational power demand on the reasoning end, thus driving the overall demand for AI computational power to continue to rise. Currently, there is resonance between the industry and policy ends of the AI industry, and the "AI +" action will become an important force driving the penetration and integration of AI in various industries. The Chinese AI startup company Monica.im announced the launch of the world's first general AI Agent product, Manus (early preview version). According to Monica.im team's video introduction, Manus is a truly autonomous AI agent capable of solving various complex and changing tasks. Unlike traditional AI assistants, Manus (Latin for "hand") can not only provide suggestions or answers, but also deliver complete task results directly, achieving the advancement of AI products from "brain" to "hand". The official video showed three examples of selecting resumes, selecting real estate, and stock analysis in practical usage scenarios. In the GAIA benchmark test, Manus achieved new SOTA in all three difficulty levels. An Agent is defined as an intelligent entity that can perceive the environment, make autonomous decisions, and perform complex tasks, representing a higher maturity level of AI products. The domestic team's launch of the world's first general AI Agent product, Manus, demonstrates the strong versatility and ability to execute complex tasks of domestic AI Agent products. The bank believes that this will accelerate the deep application of AI in various industries. In terms of computational power demand, the bank cited a Barclays research report stating that the demand for AI reasoning computing will rapidly increase, with an expected share of over 70% of the total computing demand for general artificial intelligence. The bank believes that with the deep application of AI Agent, represented by Manus, in B-end and C-end scenarios, the demand for computational power on the reasoning end will show a rapid growth trend, providing strong support for the rapid growth of computational power demand on the reasoning end and thus driving the continuous increase in overall demand for AI computational power. The bank points out that currently, there is resonance between the industry and policy ends of the AI industry. On the industry end, Manus embodies the strong versatility and ability to execute complex tasks of domestic AI Agent products. BABA-W (09988) QwQ-32B can achieve the performance of the full version DeepSeek-R1 with only 32 billion parameters, helping to significantly reduce deployment and usage costs for AI applications. The bank believes that this will accelerate the deep application of AI in various industries. At the same time, with the deep application of AI Agent, represented by Manus, in B-end and C-end scenarios, the demand for computational power on the reasoning end will show a rapid growth trend, providing strong support for the rapid growth of computational power demand on the reasoning end and thus driving the continuous increase in overall demand for AI computational power. On the policy end, the AI industry is one of the important connotations of China's new productive forces, which the country has always attached great importance to. The bank believes that the "AI +" action will become an important force driving the penetration and integration of AI in various industries.