# data moat

CITIC Flags AI 'Sentiment Shock' in China’s Software Stocks — Data-Rich Specialists Seen as Long-Term Winners

CITIC Securities warns that AI large models have sparked a sentiment-driven adjustment in China’s software application sector, but identifies a clear pattern: companies with industry expertise and proprietary data are best placed to benefit from the AI Agent era. The note advises focusing on model developers, enterprise and vertical Agent software, and AI infrastructure, while cautioning that headline‑led market moves may not reflect long‑term fundamentals.