（文章来源：每日经济新闻） 每经AI快讯，8月5日，港股苹果概念股走高，比亚迪电子(00285.HK)涨超8%，伟仕佳杰(00856.HK)涨 5.8%，瑞声科技(02018.HK)涨2.6%，富智康(02038.HK)涨1.6%。 ...

Key Insights - The report highlights the recovery of the consumer electronics cycle and the expansion into new fields as key growth drivers for the company, which is recognized as a leader in 3C equipment [4][5] - The manufacturing sector is showing signs of improvement, with PMI figures gradually approaching the growth line, indicating a potential recovery in the manufacturing industry [4][5] - The company is actively expanding into emerging fields such as humanoid robots and low-altitude economy, which are expected to drive demand for general equipment [5] Company Summaries 1. Genesis (300083) - The company is positioned as a leader in the 3C equipment sector, with a focus on expanding its product matrix into various fields, including general equipment and humanoid robots [4] - Revenue projections for 2025-2027 are estimated at 5,244 million, 5,731 million, and 6,262 million CNY, with corresponding growth rates of 14%, 9%, and 9% [5] - Net profit forecasts for the same period are 404 million, 548 million, and 659 million CNY, with growth rates of 70%, 36%, and 20% [5] 2. Weishi Jiajie (00856) - The company is transitioning from traditional distribution to becoming a provider of intelligent solutions, driven by cloud computing and AI [6] - Revenue forecasts for 2025-2027 are 1,029.52 million, 1,184.25 million, and 1,349.97 million HKD, with growth rates of 15.57%, 15.03%, and 13.99% [6] - Net profit estimates for the same period are 11.91 million, 14.13 million, and 16.30 million HKD, with growth rates of 13.26%, 18.63%, and 15.35% [6] 3. Huaya Intelligent (003043) - The company is a leading supplier of precision metal structural components for semiconductor equipment and is expanding into solid-state battery equipment [7] - Revenue projections for 2025-2027 are 1,313 million, 1,571 million, and 1,794 million CNY, with growth rates of 109.3%, 19.6%, and 14.2% [7] - Net profit forecasts for the same period are 157 million, 188 million, and 211 million CNY, with growth rates of 94.9%, 19.7%, and 11.9% [7] Industry Insights - The macroeconomic analysis indicates that the manufacturing PMI has decreased to 49.3% in July, suggesting a weakening recovery momentum [8] - The overall market sentiment remains optimistic, with expectations of a "slow bull" market despite recent adjustments [9][10] - The bond market is experiencing a new normal characterized by slow declines and rapid increases, with investors advised to remain patient for further rate decline catalysts [11]

Investment Rating - Industry rating: Recommended [4] Core Insights - The integration of "Artificial Intelligence+" is deepening, with AI maintaining high performance in overseas computing power chains, despite short-term volatility pressures. Recommended companies include Unisplendour, ZTE, StarNet, Guanghui New Network, Aofei Data, Data Port, Invec, New Ray Energy, and Wangsu Technology, with related beneficiaries such as Runze Technology and Baoxin Software [1][6][11] - In the long term, the computing power industry chain is still in its early growth stage, driven by reasoning power and model iteration upgrades. Beneficiaries include NewEase, Zhongji Xuchuang, and Tianfu Communication, with CPO-related beneficiaries like Taicheng Light and Yuanjie Technology, and PCB-related beneficiaries such as Shenghong Technology and Hude Electronics [1][7] - The demand for domestic computing power, private cloud, and integrated government and enterprise cloud deployment is expected to accelerate, with beneficiaries including Cambricon, Guangxun Technology, Huagong Technology, Tuwei Information, and Weishi Jiajie [1][7][11] Summary by Sections Section 1: AI and Computing Power - AI is becoming a new engine for economic growth, with significant integration into various industries. The government is promoting the commercialization of AI applications [6] - The recent discussions around the H20 computing chip vulnerabilities are expected to accelerate the domestic production chain, with beneficiaries including SMIC, Cambricon, StarNet, and others [2][10] Section 2: Recommendations in the Communication Sector - Recommended companies in the computing and communication infrastructure include China Mobile, China Telecom, and China Unicom, along with equipment manufacturers like ZTE and Unisplendour [11][13] - The report emphasizes the importance of third-party computing power leasing companies such as Guanghui New Network and Aofei Data, with additional beneficiaries like Runze Technology and Baoxin Software [11][13] Section 3: Optical Network and Edge Computing - Beneficiaries in the optical network upgrade include Guangxun Technology, Huagong Technology, and Tianfu Communication [14] - In edge computing, recommended companies include Wangsu Technology, Youkede, and Qianlong Technology, focusing on high-performance SoC chips [15]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或 部分內容而産生或因倚賴該等內容而引致的任何損失承擔任何責任。 香港，二零二五年八月一日 於本公佈日期，董事會由執行董事李佳林先生、王偉炘先生、李玥先生、陳海洲先生及顧 三軍先生；非執行董事張冬杰先生；以及獨立非執行董事李煒先生、余定恆先生及高懿洋 女士組成。 偉仕佳杰控股有限公司(「本公司」) 董事會(「董事會」) 兹通告謹定於二零二五年八月二 十一日上午十一時正於香港干諾道中 200 號信德中心招商局大廈 33 樓 3312 室舉行董事會 會議，以考慮及通過本公司截至二零二五年六月三十日止六個月期間之中期業績報告，及 建議派發中期股息(如有)，以及處理其他事項。 承董事會命 偉仕佳杰控股有限公司 公司秘書 林從帥 董事會會議通告 ...

呈交日期: 2025年8月1日 I. 法定/註冊股本變動 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 偉仕佳杰控股有限公司 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00856 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 2,000,000,000 | HKD | | 0.1 | HKD | | 200,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 2,000,000,000 | HKD | | 0.1 | HKD | | 200,000,000 | 本月底法定/註冊股本 ...

创梦天地(01119)再涨8.7%，公司引入Playrix战略投资，或为布局《卡拉比丘》海外发行。 康方生物(09926)涨3%再创新高，依沃西联合方案治疗IO耐药NSCLC三期临床完成首例给药。 智通财经APP获悉，港股恒生指数跌1.07%，跌270点，报24906点；恒生科技指数涨0.34%。港股早盘成 交1672亿港元。 AI概念股走势强劲，近期AI应用迎来多重催化，机构称下半年AI主线具充分投资机遇。美图公司 (01357)涨15.26%；金蝶国际(00268)涨11.70%；汇量科技(01860)涨8.59%；金山云(03896)涨10.14%；快 手-W(01024)涨8.98%；粉笔（02469）涨7.91%。 伟仕佳杰(00856)涨2.88%，公司东南亚业务形成多元布局，机构指其当前估值具备显著上行空间。 三生制药(01530)涨超5%，SSGJ-707出海绑定辉瑞，海外估值提升潜力巨大。 锦欣生殖(01951)盘中涨6.48%，政策红利逐步释放，公司为民营辅助生殖龙头。 铜业股全线走低，特朗普宣布对进口半成品铜等征50%关税，纽铜创下历史最大单日跌幅。紫金矿业 (02899)跌4.93%； ...

Core Viewpoint - The stock of 伟仕佳杰 (00856) has seen a price increase of over 3% during trading, currently at 9.29 HKD with a trading volume of 86.90 million HKD, indicating positive market sentiment towards the company [1] Group 1: Business Performance - 天风证券 (601162) reports that 伟仕佳杰's Southeast Asia operations have diversified across nine countries, including Thailand, Singapore, the Philippines, and Malaysia, focusing on GPU, AI infrastructure, and consumer electronics [1] - The projected revenue for the region in 2024 is expected to increase significantly by 74% year-on-year, with net profit contribution estimated at around 51% [1] Group 2: Growth Drivers - The company is anticipated to benefit from three main drivers: rapid global demand for computing power, accelerated channel expansion in Southeast Asia, and the implementation of new directions such as electric vehicles and cross-border payments [1] - Forecasted net profit for the company from 2025 to 2027 is projected to be 1.251 billion, 1.532 billion, and 1.883 billion CNY, respectively, with growth rates of 30%, 22.4%, and 22.9% [1] Group 3: Valuation Outlook - Given the sustained high growth in global computing power, the accelerated digital infrastructure in Southeast Asia, and the successful diversification of the company's business, the current valuation is believed to have significant upside potential [1]

Core Viewpoint - The stock of 伟仕佳杰 (00856) has seen a price increase of over 3% during trading, currently at 9.29 HKD with a trading volume of 86.90 million HKD, indicating positive market sentiment towards the company [1] Group 1: Business Performance - 天风证券 reports that 伟仕佳杰's Southeast Asia business has established a diversified presence in nine countries, including Thailand, Singapore, the Philippines, and Malaysia, focusing on GPU, AI infrastructure, and consumer electronics [1] - The projected revenue for the Southeast Asia region is expected to increase significantly by 74% year-on-year in 2024, with net profit contribution around 51% [1] Group 2: Growth Drivers - The company is anticipated to benefit from three main drivers: rapid global demand for computing power, accelerated channel expansion in Southeast Asia, and the implementation of new directions such as electric vehicles and cross-border payments [1] - Forecasted net profit for the company from 2025 to 2027 is estimated at 1.251 billion, 1.532 billion, and 1.883 billion CNY, with corresponding growth rates of 30%, 22.4%, and 22.9% respectively [1] Group 3: Valuation Outlook - Given the sustained high growth in global computing power, accelerated digital infrastructure development in Southeast Asia, and the effectiveness of the company's diversified business layout, the current valuation of 伟仕佳杰 is believed to have significant upside potential [1]

Group 1: Macro Policy Insights - The Central Political Bureau meeting on July 30 emphasized the need for continuous and stable macro policies to support high-quality development in the context of the 15th Five-Year Plan preparation [1][20][22] - The meeting highlighted the importance of domestic demand as a key driver, with the introduction of a parenting subsidy program amounting to approximately 90 billion yuan, marking a significant direct cash subsidy to the public [1][21] - The meeting also indicated a shift in focus towards urban renewal as a new policy goal, alongside enhancing the attractiveness and inclusivity of the domestic capital market [1][22] Group 2: Credit Market Analysis - The credit market is expected to experience a stable supply in the second half of the year, with favorable liquidity conditions supporting the bond market [2][24][25] - There is a discussion around the potential risks of credit spread compression, with a focus on the need for liquidity management and position adjustments [2][25] - The credit market has shown resilience, with limited widening of credit spreads despite recent market adjustments, suggesting a cautious outlook for the third quarter [2][25] Group 3: Chemical Industry Developments - Recent policies aimed at addressing "involution" in the chemical industry include stricter cost regulation and adjustments to pricing mechanisms, indicating a shift towards more sustainable competition [3][28] - The analysis of various sub-sectors within the chemical industry suggests that those with high concentration and significant losses are more likely to be targeted for policy interventions [3][28][29] - Key sub-sectors identified for potential breakthroughs include soda ash, polyurethane, and organic silicon, which meet multiple criteria for policy focus [3][29] Group 4: Food and Beverage Sector Insights - The recent listing of Jiyuan Group, a leading supplier of HMB raw materials, highlights the growth potential in the muscle health market, driven by increasing demand from aging populations [30][31] - The company is projected to achieve a revenue growth of 12.3% in 2024, with a significant portion of its income derived from overseas markets [30][31] - The focus on innovative nutritional products positions the company well within the expanding sports nutrition and joint health segments [30][33]

Core Viewpoint - The company is positioned as a leading ICT distribution player in the Asia-Pacific region, with steady revenue and profit growth, and excellent cash flow performance [1] Group 1: Financial Performance - The company's revenue is projected to increase from 63.7 billion yuan in 2020 to 81.1 billion yuan in 2024, representing a year-on-year growth of 20.6% [1] - The net profit attributable to the parent company is expected to rise from 830 million yuan in 2023 to 958 million yuan in 2024, reflecting a year-on-year growth of 14.09% [1] - Operating cash flow is anticipated to significantly improve, reaching 1.659 billion yuan in 2024, a year-on-year increase of 185% [1] Group 2: Market Trends - The demand for computing power driven by generative AI is becoming a core engine for growth in the Chinese ICT market, with total ICT spending expected to reach approximately 5.3 trillion USD in 2024, growing to 6.9 trillion USD by 2028, with a five-year CAGR of 7% [2] - The Chinese enterprise-level ICT market is projected to grow from approximately 269.36 billion USD in 2024 to nearly 415 billion USD by 2028, with a CAGR of 6.5% [2] Group 3: Regional Development - The Southeast Asian data center market is experiencing rapid growth, with the region expected to account for 44% of the total installed capacity in Asia by the end of 2024, totaling 22,780 MW [3] - Major global tech companies are investing heavily in Southeast Asia's data center and computing infrastructure, positioning the region as the third-largest new computing power market globally [3] Group 4: Strategic Initiatives - The company is leveraging its strong ICT channels and financial management to drive growth in Southeast Asia through a three-pronged strategy: positioning in Southeast Asia, upgrading cloud services, and operating AI computing power [3] - The company's Southeast Asia business is expected to see a significant revenue increase of 74% year-on-year in 2024, with net profit contributing approximately 51% [3] - The company is collaborating with top cloud service providers to enhance its cloud business and is increasing its AI R&D investment by 50% by 2025 [3] Group 5: Profit Forecast - Revenue projections for the company from 2025 to 2027 are estimated at 103.7 billion yuan, 129.63 billion yuan, and 155.55 billion yuan, with corresponding growth rates of approximately 28%, 25%, and 20% [4] - Net profit forecasts for the same period are 1.251 billion yuan, 1.532 billion yuan, and 1.883 billion yuan, with growth rates of 30%, 22.4%, and 22.9% respectively [4] - The company is expected to have significant valuation upside, with a target price of 11.52 HKD based on a PE of 12x for 2025 [4]