GEO：AI时代流量新战场，62只概念股引爆A股投资机遇

引言

The beginning of 2026 witnessed the A-share market ignited by a novel and imaginative concept: GEO (Generative Engine Optimization). Dubbed the "new SEO for the AI era," this technology is sparking a fierce battle for traffic with its disruptive approach of "embedding brand content directly into AI-generated answers." With multiple concept stocks hitting consecutive limit-ups and institutional research reports proliferating, investors are left pondering: Is GEO merely a new buzzword for capital speculation, or the starting point of the next hundred-billion-yuan track? Recently, Gao Zhiwei, Chief Analyst of Financial Engineering at Sinolink Securities, released an in-depth study unveiling the industrial chain map and investment logic behind GEO.

2026年开年，A股市场被一个陌生又充满想象力的概念点燃——GEO（Generative Engine Optimization，生成式引擎优化）。这个被称为“AI时代新SEO”的技术，正以“让品牌内容直接嵌入AI答案”的颠覆性玩法，掀起一场流量争夺战。多只概念股连续涨停，机构研报密集覆盖，投资者追问：GEO究竟是资本炒作的新噱头，还是下一个百亿级赛道的起点？日前，国金证券金融工程首席分析师高智威发布深度研究，揭开GEO的产业链图谱与投资逻辑。

核心概念：GEO如何颠覆传统流量游戏规则？

从“引导点击”到“答案即服务”

In the traditional SEO era, brands competed for search rankings by optimizing keywords and building backlinks, requiring users to click through links to access information. The core logic of GEO, however, is to directly "embed" brand content into AI-generated answers, achieving "customer acquisition without clicks." For instance, when a user asks "which sports shoes are suitable for running," an AI might directly recommend a specific brand and model, complete with a purchase link, bypassing the traditional search results page entirely. This model not only enhances conversion efficiency but also has the potential to颠覆 the existing traffic distribution landscape.

传统SEO时代，品牌通过优化关键词、外链等手段争夺搜索排名，用户需点击链接才能获取信息；而GEO的核心逻辑，是让品牌内容直接“嵌入”AI生成的答案中，实现“无需点击即获客GEO技术的核心优势之一，指品牌通过AI生成的答案直接呈现内容（如推荐产品），用户无需额外点击链接即可接触信息，从而提高转化效率。”。例如，用户询问“哪款运动鞋适合跑步”，AI可能直接推荐某品牌型号并附上购买链接，跳过传统搜索结果页。这种模式不仅提升转化效率，还可能颠覆现有流量分配格局。

技术成熟与场景落地成为催化剂

Gao Zhiwei points out that the primary catalyst for the GEO concept is the increasing maturity of Agent technology. Cases of AI empowering actual business operations have emerged across various scenarios, with acceleration particularly notable in e-commerce and shopping guidance applications. It is reported that giants like Google and Amazon have piloted AI shopping assistants, while domestic e-commerce platforms are also utilizing AI to generate product recommendation copy, reducing manual operational costs.

高智威表示，GEO概念催化的主要原因在于Agent技术不断成熟，不同场景中都已出现AI赋能实际业务的案例，其中与电商、导购相关的场景落地加速。据悉，谷歌、亚马逊等巨头已试点AI购物助手，国内电商平台也通过AI生成商品推荐文案，降低人工运营成本。

GEO产业链与A股市场映射

行业分布：“传媒主导，科技赋能”

Utilizing large language models, Sinolink Securities' Financial Engineering team developed an "Industrial Chain Agent" tool to map out the core GEO industrial chain. Gao Zhiwei indicates that there are 62 GEO concept stocks in the A-share market, with industry distribution characterized by "Media Dominance, Empowered by Technology."

国金证券金融工程团队利用大语言模型，设计出“产业链Agent”工具，梳理出GEO概念的核心产业链。高智威指出，A股共有62只GEO概念股，行业分布呈现“传媒主导、科技赋能”的特征。

Media Industry (传媒行业): Occupies half of the total, with 32 stocks. Leading companies like BlueFocus Communication Group (BlueFocus), Leo Group (Leo), and Giant Network Group boast free-float market capitalizations exceeding 50 billion yuan, covering scenarios such as intelligent marketing and content generation.
- 传媒行业：占据半壁江山，数量达到32只。蓝色光标、利欧股份、巨人网络等龙头股自由流通市值超500亿，覆盖智能营销、内容生成等场景。
Computer Industry (计算机行业): Contributes 13 stocks. Companies like iFlytek (market cap over 100 billion yuan) and Tonghuashun (nearly 80 billion yuan) empower GEO through AI technologies for semantic optimization and data mining.
- 计算机行业：有13只概念股。科大讯飞（市值超1000亿）、同花顺（近800亿）等公司通过AI技术赋能GEO语义优化与数据挖掘。
Other Industries (其他行业): Includes sectors like Pharmaceuticals (6 stocks) and Commercial Trade & Retail (4 stocks), where companies explore niche applications such as using AI to generate patient education content or product recommendations.
- 其他行业：医药（6只）、商贸零售（4只）等行业也有企业利用AI生成患者教育内容或商品推荐，探索细分场景应用。

代表性企业实践

Several GEO concept companies have already integrated AI marketing technologies into their actual operations.

多家GEO概念公司已在实际业务中利用到AI营销利用人工智能技术（如生成式AI、大模型）进行营销活动的全过程，包括数据分析、创意产出、精准投放等，以提升效率和效果。技术。

Leo Group (利欧股份): Launched the AIGC ecosystem platform "LEO AIAD" and the marketing large model "Leo Guiyi," and led the formulation of the national standard "Internet Advertising - Management Guide for Creative Material Metadata Based on Generative Artificial Intelligence," aiming to seize industry discourse power.
- 利欧股份：推出AIGC生态平台基于生成式人工智能构建的内容创作与营销生态系统，整合工具、模型和服务，支持自动化内容生成和优化。“LEO AIAD”与营销大模型“利欧归一”，并主导制定AI营销利用人工智能技术（如生成式AI、大模型）进行营销活动的全过程，包括数据分析、创意产出、精准投放等，以提升效率和效果。国家标准《互联网广告基于生成式人工智能的创意素材元数据管理指南》，抢占行业话语权。
BlueFocus Communication Group (蓝色光标): Its "Blue AI" product covers the entire chain of intelligent marketing, including data analysis, creative output, and精准投放, achieving deep integration within the marketing industry and serving numerous overseas brands.
- 蓝色光标：Blue AI产品涵盖了智能营销的全链条，包括数据分析、创意产出和精准投放等功能，实现营销行业内的深度融合，服务多家出海品牌。

投资视角：在狂热中保持清醒

Behind the狂欢 of GEO concept stocks lies the market's bet on the future of AI marketing. Investors must distinguish between "theme speculation" and "value growth."

GEO概念股的狂欢背后，是市场对AI营销利用人工智能技术（如生成式AI、大模型）进行营销活动的全过程，包括数据分析、创意产出、精准投放等，以提升效率和效果。未来的押注。投资者需区分“主题炒作”与“价值成长”。

For investors, GEO represents both a hotspot for short-term博弈 and an entry point for long-term布局 in the AI industrial chain. However, it is crucial to remember: concepts can be hyped, but value must ultimately materialize. While chasing the风口, maintaining a清醒认知 of the technological essence and commercial logic is paramount to seizing opportunities amidst volatility.

对于投资者而言，GEO既是短期博弈的热点，也是长期布局AI产业链的切口。但需牢记：概念可以炒作，价值终需落地。在追逐风口的同时，保持对技术本质与商业逻辑的清醒认知，方能在波动中把握机遇。

免责声明

本栏目刊载的信息仅为行业观点，不构成任何投资建议，投资者不应该以该等信息取代独立判断或仅根据该等信息作出决策。本栏目力求信息准确可靠，但对信息的准确性或完整性不作保证，亦不对因使用该等信息而引发或可能引发的损失承担任何责任。投资有风险，入市须谨慎。

本栏目刊载的信息仅为行业观点，不构成任何投资建议，投资者不应该以该等信息取代独立判断或仅根据该等信息作出决策。本栏目力求信息准确可靠，但对信息的准确性或完整性不作保证，亦不对因使用该等信息而引发或可能引发的损失承担任何责任。投资有风险，入市须谨慎。