開源證券：中美科技巨頭積極擁抱 MCP 有望加快 AI 應用場景拓展

According to the Zhitong Finance APP, Kaiyuan Securities has released a research report stating that it remains optimistic about the rise of the AI Agent industry in 2025. Chinese and American tech giants are intensively laying out the MCP protocol, which still uses the concept of Function Call at its core but has a higher degree of industrialization, stimulating the emergence of unified tools for the protocol. The firm believes that the MCP protocol is expected to significantly enhance the configuration efficiency of AI Agents with external tools and accelerate the expansion of AI application scenarios.

Key Points from Kaiyuan Securities:

Since April, Alibaba, Google, Tencent, and others have announced the launch of MCP services.

On April 9, Alibaba Cloud launched the industry's first full lifecycle MCP service, significantly lowering the development threshold for Agents. The Bailian platform has initially launched over 50 MCP services from Alibaba Group and third parties, including Amap, Wuying, Fetch, and Notion, to meet the development needs of Agent applications in different scenarios. On April 10, Google Deep Mind CEO Demis Hassabis announced that support for the MCP context protocol led by Anthropic would be added to its Gemini model, calling it "an excellent protocol that is rapidly becoming the open standard of the AI Agent era." On April 14, Tencent Cloud announced an upgrade to its large model knowledge engine to support the MCP protocol, allowing users to call selected MCP plugins from the platform or insert custom MCP plugins when building applications.

Chinese and American tech giants are intensively laying out the MCP protocol.

MCP is a standard protocol designed to address the high technical costs of calling external tools in Agent development. It allows developers of various applications to provide tools for large models through a unified protocol. MCP was initially proposed and open-sourced by Anthropic, aiming to create an open and standard specification that enables large language models to interact quickly with various external data sources and tools (such as business software, databases, code repositories, etc.). With the support of major players like OpenAI and Google, as well as domestic companies like Alibaba and Tencent, MCP is accelerating its acceptance as a widely recognized standard.

Investment Recommendations

The firm continues to be optimistic about the rise of the AI Agent industry in 2025, recommending applications such as Kingsoft Office, iFlytek, Zhuoyi Information, Tonghuashun, Zhongke Chuangda, Hehe Information, Dingjie Smart, Tuolsi, Kingdee International, Focus Technology, Tax Friend Co., Ltd., Shanghai Steel Union, Zhiyuan Interconnection, and Puyuan Information. Beneficiary targets include Shiji Information, Hand Information, Fanwei Network, Yonyou Network, Daily Interaction, Highgreat, Hanvon Technology, Jinqiao Information, Hanyi Co., Ltd., 360, Wanxing Technology, Runda Medical, Caixun Co., Ltd., Foxit Software, and Xingtuxinke.

In the computing power sector, beneficiary targets for cloud vendors include Shensanda A, Qingyun Technology-U, Youke De-W, Capital Online, and Kingsoft Cloud. For integrated machines, recommendations include Shunxinfu and Ruantong Power, with beneficiary targets including Newzhisoft, Yongxin Zhicheng, Loongson Technology, Cloudwalk Technology, Kirin Trust, and Hengwei Technology. Recommendations also include Chunzong Technology, Haiguang Information, Zhongke Shuguang, and Inspur Information, with beneficiary targets including Cambrian, Unisplendour, Industrial Fulian, Jingjia Micro, and Far East Holdings Huawei Ascend ecosystem recommends Digital China and others, with beneficiaries including High-tech Development, Guangdian Yuntong, Fenghuo Communication, and Tuowei Information.

Risk Warning: Industry implementation may fall short of expectations; risks of intensified market competition; risks of company R&D falling short of expectations, etc