[CITIC Securities: Multi-model updates such as DeepSeek V4, computing power demand remains tight] According to Golden Finance, on April 27, CITIC Securities released a research report stating that DeepSeek-V4 and GPT-5.5 were launched simultaneously. The former leverages CSA/HCA attention compression and mHC network reconstruction to achieve performance close to flagship closed-source models while drastically reducing the cost of reasoning for million-level contexts, successfully running on domestically produced computing power platforms. The latter relies on strong coupling between software and hardware, targeting high-complexity knowledge work and continuing the business model of high pricing paired with high intelligence. Meanwhile, the generational leap of foundational models resonates with Agent frameworks such as OpenClaw and Hermes, accelerating the commercialization of the Agent ecosystem through the expansion of intelligence limits and optimization of reasoning costs.