Deep Analysis of the Investment Impact of Step-GUI's Launch by Jieyue Xingchen on China's AI Industry Chain

On December 17, 2025, Jieyue Xingchen upgraded and released a new series of AI Agent models “Step-GUI”, including the cloud model Step-GUI, the first MCP protocol for GUI Agents, and the industry’s first open-source end-side model Step-GUI Edge that supports mobile phone deployment [1]. This technological breakthrough marks a major evolution of AI Agents from the cloud to terminal devices, and has successfully executed tasks in more than 200 APP scenarios such as Taobao, Weibo, Douyin, Xiaohongshu, and Xianyu.

• Pioneering
  : The industry’s first open-source end-side AI Agent model supporting mobile phone deployment
• Cross-application Capability
  : No need for apps to open APIs; directly understands interfaces to execute complex task chains
• Open-source Ecosystem
  : Reduces technical barriers and promotes the development of industry standardization

• Consumer Applications: Mainstream apps such as social media, e-commerce, short videos
• Smart Terminals: Mobile phones, cars, IoT devices
• Vertical Fields: Customized scenarios such as education, medical care, finance

• End-side AI requires stronger local computing power
• Demand for NPUs and AI accelerators surges
• Power consumption optimization becomes a key technical indicator

• More than 60% of domestic leading mobile phone brands have accessed Jieyue’s multimodal large models
• Hardware upgrade cycles are shortened, and AI functions become differentiated selling points
• The value of hardware-software integration is enhanced

• CPO concept stocks performed actively, with Tianfu Communication and Dongtian Microelectronics hitting their daily limit
• End-cloud collaborative architecture promotes infrastructure upgrading
• Demand for edge computing devices grows

• AI chip companies such as HiSilicon (Huawei), Cambricon, Horizon Robotics
• Benefit from the explosion of end-side AI computing power demand

• Domestic mobile phone brands such as Huawei, Xiaomi, OPPO, vivo
• Core suppliers such as GoerTek and Luxshare Precision
• Manufacturers with in-depth cooperation with Jieyue Xingchen are prioritized

• Optical module enterprises such as Zhongji Innolight, Eoptolink, Tianfu Communication
• Companies related to CPO technology benefit significantly
• Demand for servers and storage devices grows

• Multimodal interaction requires richer perception capabilities
• Hardware upgrades for cameras, microphones, touch screens, etc.

• OEM enterprises such as Foxconn and Luxshare Precision
• Benefit from order growth brought by hardware upgrades

• AI Agent application development service providers
• Vertical industry solution providers

• Step-GUI Edge as the industry’s first open-source model for mobile end-side
• 2026 is expected to be a key window period for reshaping terminal experience [1]

• China Academy of Information and Communications Technology predicts that the core industry scale of artificial intelligence will exceed one trillion yuan in 2025
• The trend of localization substitution is clear

• Tech giants are increasing their investment in end-side AI hardware [3]
• Extending from the cloud to terminals has become a clear trend
• Significant advantages in privacy protection and response speed

• Mobile phones, as mature application carriers, remain the “primary carrier”
• New form factors such as AI glasses have growth potential
• Upstream supply chains benefit first, and brand manufacturers get value revaluation in the later stage

• End-side AI model optimization still faces challenges in balancing power consumption and performance
• There is a risk of differentiation in technical routes among different manufacturers

• International giants still have advantages in AI chips and models
• Domestic manufacturers face fierce competition, and profitability is uncertain

• Some concept stocks have risen significantly, with the risk of valuation bubbles
• Performance realization takes time, and short-term volatility may intensify

• Short-term
  : Focus on chips and computing power equipment directly benefiting from technological breakthroughs
• Medium-term
  : Layout mobile phone industry chain and sensor companies
• Long-term
  : Focus on AI Agent applications and service providers

• Have in-depth cooperation with leading AI companies such as Jieyue Xingchen
• Have core competitive advantages in key technical links
• High matching degree between performance growth and valuation

• Focus on mobile phone brands and supply chains with more than 60% access to Jieyue models
• Focus on high-boom segments such as CPO and AI chips
• Prioritize leading enterprises with strong performance certainty

• Avoid chasing pure concept stocks with excessive gains
• Pay attention to the matching degree between fundamentals and technical aspects
• It is recommended to invest in portfolios to diversify the risk of single targets

The release of Step-GUI by Jieyue Xingchen marks an important milestone in the deployment of China’s AI Agent technology to the end-side, which will promote the restructuring and upgrading of the entire AI industry chain. From an investment perspective, upstream supply chains (chips, computing power equipment) will benefit first, and mobile phone manufacturers and terminal brands will get value revaluation opportunities in the medium term. Investors should focus on the progress of technology commercialization and policy support, and seize the structural investment opportunities in the end-side AI industry chain.

[1] Phoenix Finance - “Jieyue Xingchen Releases First Open-source End-side Agent That Can Be Deployed on Mobile Phones” (https://finance.ifeng.com/c/8pAEQ4Tctir)

[2] Securities Times - “Tech Giants Increase Investment in End-side AI: ‘Great Minds Think Alike’ Fund Managers Are Optimistic About Upstream Supply Chains Benefiting First” (https://www.stcn.com/article/detail/3528619.html)

[3] Securities Times - “CPO Concept Stocks Are Exploding Again!” (https://www.stcn.com/article/detail/3529752.html)

[4] 36Kr - “Jieyue Xingchen Releases New AI Agent Series Model ‘Step-GUI’” (https://www.36kr.com/newsflashes/3599560321155328)

[5] Gilin AI Data - US Stock Sector Performance Data (2025-12-17)

[6] Gilin AI Data - Chart of Investment Opportunities in End-side AI Industry Chain (2025-12-18)