NewTimeSpace News: On the news front, according to The Information, DeepSeek plans to launch its next-generation flagship large model, DeepSeek-V4, in mid-February, with a focus on enhancing code generation and long-code context processing capabilities.

Zheshang Securities believes that DeepSeek's most prominent features currently lie in being open-source and prioritizing cost-effectiveness, making it one of the most AI application-friendly models. Looking ahead, as domestic large models continue to upgrade and iterate, the flourishing of vertical applications is just around the corner.

Specifically, large domestic clients are more sensitive to data and security, prefer private cloud and dedicated cloud models, favor independent deployment, and are more receptive to open-source models. DeepSeek's pricing is much lower than that of OpenAI, and its performance is better than most open-source and closed-source models. The improved cost-effectiveness of large models can unlock more application scenarios.

In terms of related ETFs, on January 12, 2026,Global X China Cloud Computing ETF (02826.HK) performed strongly throughout the day, once rising by nearly 5%. As of 15:20, the fund's increase reached 4.69%.

Global X China Cloud Computing ETF (02826.HK) is a passively managed fund that tracks the Solactive China Cloud Computing Index. It covers leading enterprises in the entire cloud computing industry chain listed in mainland China and Hong Kong, including Alibaba Cloud, Tencent Cloud, Baidu Smart Cloud, etc. Its investment scope includes infrastructure, software services, AI applications and other segmented fields.

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