Tianfeng Securities: The third quarter is expected to enter a period of intensive landing for AI Agents from two dimensions.

Tianfeng Securities released a research report stating that in the third quarter of 2025, there is the potential to enter the period of intensive landing of AI agents, and two dimensions should grasp the core targets of AI agents. In terms of the C-end, Alibaba, Tencent, and ByteDance have become the core enterprises of C-end agents due to their traffic advantages. In the future, attention should be paid to the formation of super entrances on mobile phones, such as cooperation between giants and mobile phone manufacturers to create "clothing, food, housing, and transportation" life assistants. We are most bullish on Alibaba's potential. In terms of C-end vertical scenes, we are optimistic about Kingsoft Office, Hehe Information, iFlytek, and Tonghuashun, which have sticky, high-frequency applications. For B-end agents, it is recommended to focus on Alibaba, DeepSeek, ByteDance, Tencent, Jieyue Xingchen, and Zhipu AI.