国泰君安版权所有发送给上海东方财富金融数据服务有限公司.东财接收研报邮箱.ybjieshou@eastmoney.com p1 | --- | --- | --- | --- | |------------------------------------------------|----------------------|-----------|------------| | [Table_Industry] | | | 传播文化业 | | 2024.07.14 | [Table_Invest] 评级: | | 增持 | | 关注 Meta AR 眼镜进展,A 股传媒中报预告陆续发布 | | 上次评级: | 增持 | ——传媒行业周报 2024 年 27 期 [Table_subIndustry] 细分行业评级 | --- | --- | --- | --- | |----------------|--------------------|-------------------------|------------------| | [table_Authors | 陈筱](分析师) | 杨昊(分析师) | ...

[Table_Industry] 计算机 [Table_subIndustry] 细分行业评级 计算机 增持 [table_Authors 李沐华](分析师) 李博伦(分析师) 010-83939797 0755-23976516 limuhua@gtjas.com libolun@gtjas.com 登记编号 S0880519080009 S0880520020004 证 券 研 究 报 告 2024.07.12 [Table_Invest] 评级： 增持 上次评级: 增持 萝卜快跑带领自动驾驶进入快速落地期 本报告导读： 在技术成熟、硬件成本降低、法律法规和基础设施完善共同作用下，萝卜快跑在武汉 取得初步成功，自动驾驶即将进入快速落地期。 投资要点： [Table投资建议： _Summary]萝卜快跑在武汉的商业模式初步成功，自动驾驶行业重回 市场聚光等下，即将进入快速落地期。投资方向主要有三个。1、掌握 自动驾驶技术的互联网公司；2、为互联网公司代工整车及零部件或 IT 服务的产业链企业；3、自动驾驶基础设施车路云相关企业。推荐标 的：通行宝、千方科技，受益标的：百度集团-SW、江铃汽车、万集 科技、金 ...

国泰君安版权所有发送给上海东方财富金融数据服务有限公司.东财接收研报邮箱.ybjieshou@eastmoney.com p1 [Table_Industry] 有色金属 2024.07.14[Table_Invest] 评级: 增持 上次评级: 增持 [Table_subIndustry] 细分行业评级 [Table_Report] 相关报告 | --- | --- | |------------------------------------------|------------| | 有色金属《供需博弈延续,锂价跌幅收窄》 | | | | 2024.07.07 | | 有色金属《衰退&降息预期交织,贵金属新 | | | 高可期》 | | | | 2024.07.07 | | 有色金属《【国君有色】工业金属周度数据库 | | | 20240707》 | | | | 2024.07.07 | | 有色金属《【国君有色】钴锂小金属周度数据 | | | 库 0706》 | | | | 2024.07.06 | | 有色金属《贵金属周度数据库》 | | | | 2024.07.06 | 月初成交清淡,锂价仍寻底 ...

[Table_Industry] 家用电器业 2024.07.14[Table_Invest] 评级: 增持 上次评级: 增持 [Table_subIndustry] 细分行业评级 [Table_Report] 相关报告 | --- | --- | |-----------------------------------------|------------| | 家用电器业《家电行业并购频发,面板价格 | | | 保持平稳》 | | | | 2024.07.08 | | 家用电器业《线上冰箱和洗衣机表现较好, | | | 铜铝价格有所上升》 | | | | 2024.07.08 | | 家用电器业《7 月白电内销排产数据下修,白 | | | 电和彩电出口较好》 | | | | 2024.07.02 | | 家用电器业《线上洗衣机和扫地机表现较 | | | 好,铜铝价格下降》 | | | | 2024.07.01 | | 家用电器业《大促回归常态化,家电存在结 | | | 构亮点》 | | | | 2024.06.28 | 股 票 研 究 拥抱业绩确定性,品牌出海高景气度延续 ——2024H1 家电行业中报前 ...

国泰君安版权所有发送给上海东方财富金融数据服务有限公司.东财接收研报邮箱.ybjieshou@eastmoney.com p1 股 票 研 究 行 业 更 新 | --- | --- | --- | --- | --- | |--------------------------------|----------------------------|---------------------------------|-----------------------|------------| | [Table_Industry] | | | | 有色金属 | | 2024.07.13 | | [Table_Invest] 评级: | | 增持 | | | 宏观预期扰动,淡季震荡调整 | | 上次评级: | 增持 | | | ——工业金属周报 | [Table_subIndustry]细分行业评级 | | | | [table_Authors 于嘉懿](分析师) | 孟宪博(分析师) | | | | | 021-38038404 | 021-38038432 | | | | | yujiayi@gtjas.com ...

海 外 公 司 ( 中 国 香 港 ) 证 券 研 究 报 告 股 票 研 究 Q2 流水符合预期,折扣库存持续改善 特步国际(1368)[Table_Invest] 评级: 增持 [当前价格 Table_CurPrice] :(港元) 5.00 [Table_Date] 2024.07.14 ——特步国际 2024Q2 经营数据点评 | --- | --- | --- | |-----------------|---------------------------|-----------------------------| | [table_Authors] | 刘佳昆(分析师) | 曹冬青(研究助理) | | | 021-38038184 | 0755-23976666 | | | liujiakun029641@gtjas.com | caodongqing026730@gtjas.com | | 登记编号 | S0880524040004 | S0880122070070 | 本报告导读: 主品牌 Q2 流水符合预期,经营质量持续改善,7 月至今流水延续 6 月趋势,预计全年 收入中到高单位数增长; ...

国泰君安版权所有发送给上海东方财富金融数据服务有限公司.东财接收研报邮箱.ybjieshou@eastmoney.com p1 | --- | --- | --- | |------------------------------------|----------------------------|------------------------| | | | 电子元器件/信息科技 | | | [Table_Invest] 评级: | 增持 | | 净利润超预期,看好公司长期增长 | [Table_Target] 目标价格: | 上次评级: 增持420.80 | | 半年度业绩预报点评 | [当前价格: Table_CurPrice] | 上次预测: 371.25328.57 | | 文越(分析师) | | | | 021-38038032wenyue029694@gtjas.com | [Table_Date] | 2024.07.13 | 登记编号 S0880521070002 S0880524050001 本报告导读: 公司发布 24H1 业绩预报,归母净利润达 25.7~29.6 亿元,同比超预期增 ...

Investment Rating - The investment rating for the company is "Accumulate" [10][11] - The target price has been adjusted to 87.30 CNY from the previous 104.17 CNY [11] Core Insights - The company's Q2 performance exceeded expectations, indicating a potential new growth phase [10] - The market bottom was identified in Q1, with demand beginning to recover in Q2 as domestic operator tenders gradually resume [11] - The company is expanding its market share overseas, supported by the launch of new products such as T/W/V series [11] Financial Performance Summary - For H1 2024, the company achieved revenue of approximately 30.16 billion CNY, a year-on-year increase of 28.32%, and a net profit of around 3.62 billion CNY, up 95.98% year-on-year [11] - Q2 2024 revenue reached 16.38 billion CNY, representing a year-on-year growth of 24.51% and a quarter-on-quarter increase of 18.81% [11] - The net profit for Q2 2024 was 2.34 billion CNY, with a year-on-year increase of 51.97% and a quarter-on-quarter increase of 83.82% [11] Product Line and Market Dynamics - The S series has shown strong performance in the first commercial batch tender for 8K chips from domestic operators [11] - The T series has seen significant growth in overseas markets, with H1 2024 revenue increasing by approximately 70% [11] - The W series has quickly gained market recognition following the launch of its first WiFi6 product, with rapid order growth [11] - The A series is benefiting from a recovery in AIoT downstream inventory replenishment, with successful commercial orders for its new generation ARM V9 architecture chips [11] Catalysts for Growth - Anticipated recovery in tenders in Q3 and continued upward demand trends are seen as key catalysts for growth [11]

| --- | --- | --- | --- | |---------------------------------------------|----------------------------|-----------|------------| | | | 基础化工 | /原材料 | | | [Table_Invest] 评级: | | 增持 | | 业绩符合预期,塞尔维亚产能快速爬坡 | [Table_Target] 目标价格: | 上次评级: | 增持28.43 | | ——玲珑轮胎 2024 年中报预告点评 | [当前价格: Table_CurPrice] | 上次预测: | 28.4318.39 | | 陈传双(研究助理) | | | | | 021-38676675chenchuanshuang027603@gtjas.com | [Table_Date] | | 2024.07.14 | 登记编号 S0880522120008 S0880123060038 本报告导读: 公司 24Q2 业绩符合预期,塞尔维亚项目产能快速爬坡中。随着中长期产能释放,配 套和替换端发力,配合持续研发,预计公 ...

国泰君安版权所有发送给上海东方财富金融数据服务有限公司.东财接收研报邮箱.ybjieshou@eastmoney.com p1 | --- | --- | --- | --- | |---------------------------------------------|----------------------------|-----------|------------| | | | 基础化工 | /原材料 | | | [Table_Invest] 评级: | | 增持 | | 业绩符合预期,产销创历史新高 | [Table_Target] 目标价格: | 上次评级: | 增持19.28 | | 2024 年中报预告点评 | [当前价格: Table_CurPrice] | 上次预测: | 19.2813.98 | | 陈传双(研究助理) | | | | | 021-38676675chenchuanshuang027603@gtjas.com | [Table_Date] | | 2024.07.14 | 登记编号 S0880522120008 S0880123060038 本报告导读: | --- ...