| Issue |
SHS Web Conf.
Volume 218, 2025
2025 2nd International Conference on Development of Digital Economy (ICDDE 2025)
|
|
|---|---|---|
| Article Number | 01027 | |
| Number of page(s) | 9 | |
| Section | Digital Finance: Innovation, Regulation, and Inclusion | |
| DOI | https://doi.org/10.1051/shsconf/202521801027 | |
| Published online | 03 July 2025 | |
Impact of the DeepSeek-R1 Model Launch on the Value of Chinese AI Concept Companies
Business school, China University of Political Science and Law, 102249, Beijing, China
* Corresponding author: 220825007@cupl.edu.cn
On January 20, 2025, the open-source large model DeepSeek-R1 was launched in China, marking another major technological breakthrough in generative AI. As a representative of domestic large models, it quickly attracted significant market attention. This study selects 152 A-share listed companies from the artificial intelligence industry chain as the observation sample, and employs an event study method to quantitatively analyze abnormal stock price movements before and after the technology announcement. The results indicate that the release of new technology produced a significant positive impact on AI-related industries, with market sentiment turning optimistic in the short term, although a long-term adjustment trend is observed. Additionally, the study examines the market response characteristics of both upstream and downstream sectors in the AI industry. The reactions across different segments are asymmetric; upstream enterprises experience more volatile stock prices due to the risks of technological substitution and a structural contraction in market demand.
© The Authors, published by EDP Sciences, 2025
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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