Group 1 - The report highlights that the integration of artificial intelligence, the Internet of Things, vehicle-road collaboration, and 5G communication is driving the transformation of automobiles from traditional vehicles to intelligent mobile terminals, enhancing safety, efficiency, and user experience [2][25]. - The report identifies three main categories of vehicle networking application scenarios: urban roads, highways, and specific areas (such as mines and ports), each with distinct deployment scales and technical complexities [1][19]. - The automotive industry is experiencing a dual spiral development of electrification and intelligentization, where electrification provides the technical platform for intelligentization, and the latter further accelerates the application and iteration of electrification technologies [25][41]. Group 2 - Investment opportunities are identified in three directions: intelligent driving, intelligent cockpit, and vehicle networking, with specific companies recommended for each category [19][40]. - The intelligent driving sector is expected to see significant market and technological catalysts in the second half of 2024, with various industry events scheduled to promote the development of smart vehicles [57][58]. - The report notes that the research and development expenses in the intelligent driving sector are on the rise, indicating ongoing investment in technology innovation and product development, which is crucial for maintaining competitive advantages [55][59]. Group 3 - The report emphasizes that the shift from traditional fuel vehicles to electric vehicles is a critical breakthrough for China to transition from a major automotive country to a strong automotive nation, with significant advancements made by companies like BYD [42][44]. - The intelligentization trend is expected to create new competitive advantages for the domestic automotive industry, as companies increasingly adopt advanced intelligent technologies in manufacturing and design processes [44][47]. - The report suggests that the intelligent driving sector's return on equity (ROE) has shown strong performance, indicating robust profitability and competitive potential in the market [30][51].

石油石化 沪深300 -20% -12% -4% 4% 12% 20% 06/23 08/23 11/23 01/24 04/24 06/24 资料来源:Wind,甬兴证券研究所 ◼ 市场行情回顾 增持(维持) 近一年行业与沪深 300 比较 ◼ 核心观点 ◼ 投资建议 ◼ 风险提示 行业: 石油石化 日期: yxzqdatemark 2024年06月18日 | 分析师: | 赵飞 | |-------------|----------------------| | E-mail : | zhaofei@yongxingsec. | | | com | | SAC 编号: | S1760524040002 | 板块表现 本周(20240611-20240614)中信石油石化板块下滑约 0.77%,上证综 合指数下滑约 0.61%,同上证综合指数相比,石油石化板块落后约 0.2 个百分点。子板块方面,石油石化子板块涨跌互现,其中炼油、油田 服务、工程服务等子板块跌幅居前。 本周(20240611-20240614)石油石化板块领涨个股包括*ST 海越、胜 通能源、齐翔腾达、贝肯能源、新凤鸣等;领跌个股包括博汇股 ...

"体重管理年"实施方案出台,减重领域再迎关注 ——医药生物行业周报(2024.06.24-06.28) ◼ 行情回顾 上周(2024年 6月 24 日-6月 28日),A股申万医药生物下跌 3.48%, 板块整体跑输沪深 300 指数 2.51pct,跑输创业板综指数 0.48pct。在 申万 31 个一级子行业中,医药板块周涨跌幅排名为第 27 位。恒生医 疗保健指数下跌 3.13%,板块整体跑输恒生指数 1.41pct。在恒生 12 个一级子行业中,医疗保健行业周涨跌幅排名为第 11 位。 ◼ 核心观点 据北京商报报道,6 月 26 日,国家卫生健康委等 16 个部门联合制定 了《"体重管理年"活动实施方案》(以下简称《实施方案》)。《实施方 案》重点提出五个方面 15 条主要措施,其中涵盖了发挥中医药对体 重管理的技术支撑作用。进一步推广体重管理中医药适宜技术,为各 类人群提供中医体质辨识和包括饮食调养、起居调摄、运动保健等在 内的中医药保健指导服务。研究制定妇女、儿童青少年肥胖治未病干 预指南。鼓励商业健康保险与健康管理深度融合,有效参与体重管 理,充分发挥支持保障作用。鼓励开发具备连续动态采集分析体 ...

证 券 研 究 报 告 行 业 周 报 ◼ 风险提示 行业周报 | --- | --- | |-------------|-------| | | | | 1. 核心观点 | | | 2. 行情回顾 | | | 3. 行业要闻 | | | 4. 公司公告 | | | 5. 风险提示 | | | --- | --- | |---------------------------------------------------------------------------------------------------------------------------------------------|-------| | | | | | | | 图 2: 申万一级行业周涨跌幅（2024.06.24~2024.06.28） | | | 图 3: 近一年 A 股大小盘市场风格 | | | 图 4: 申万 大 小盘周涨跌幅（2024.06.24~2024.06.28） | | | 图 5: 大中小盘指数及沪深 300 指数 PE-TTM . | | | 图 6: 大中小盘指数 PE、PEG、PE/PEG (基于 Wi ...

宏观研究/宏观点评 | --- | |-------| | | | | | --- | |-------| | | | | 2.需求侧需要加力：6 月中采制造业 PMI 新订单指数为 49.50 %（前值 49.60 %），新出口订单指数为 48.30 %（前值 48.30 %），可以看出表征 内需与外需的指标都连续运行在临界值以下，需求侧需要进一步加力。 4.原材料购进价涨幅放缓，出厂价出现收缩：6 月中采制造业 PMI 的 购进价格指数 51.70 %（前值 56.90 %），扩张程度出现明显放缓；6 月 出厂价格指数 47.90 %（前值 50.40 %），回落至临界值以下。 6.建筑业扩张速度明显放缓：尽管建筑业 PMI 仍在临界值以上，但从 分项指数来看，6 月建筑业 PMI 新订单指数为 44.10 %（前值 44.10 %）， 建筑业从业人员指数降至 42.90 %（前值 43.30 %），都处于较低水平。 6 月中采制造业 PMI 仍在临界值以下。主要分项指数显示出生产指数 逐步放缓，需求侧需要进一步加力，加库存周期尚待开启，但原材料 购进价格的扩张趋势有所放缓，出厂价格指数则是降至临界值以下 ...

最近一年股票与沪深 300 比较 特锐德 沪深300 -30% -20% -10% 0% 10% 20% 06/23 09/23 11/23 02/24 04/24 06/24 资料来源:Wind,甬兴证券研究所 ◼ 核心观点 相关报告: ◼ 投资建议 ◼ 风险提示 | 行业: | 电力设备 | | |-----------------|-----------------------------|-------------| | 日期: | yxzqdatemark 2024年06月28日 | | | 分析师: | 开文明 | | | E-mail : | kaiwenming@yongxin | | | | gsec.com | | | SAC 编号: | S1760523070002 | | | 分析师: | 刘清馨 | | | E-mail : | liuqingxin@yongxings | | | | e.com | | | SAC 编号: | S1760523090001 | | | 基本数据 | | | | 06 月 27 | 日收盘价 ( 元 ) | 19.52 | | 12mthA | 股价 ...

计算机 沪深300 -20% -4% 12% 28% 44% 60% 09/22 11/22 02/23 04/23 07/23 09/23 增持(维持) 行业: 计算机 日期: yxzqdatemark 2024年07月02日 | 分析师: | 李行杰 | |-------------|------------------------| | E-mail : | lixingjie@yongxingsec. | | | com | | SAC 编号: | S1760524010003 | | 分析师: | 黄伯乐 | | E-mail : | huangbole@yongxings | | | ec.com | | SAC 编号: | S1760520110001 | ◼ 核心观点 本周核心观点与重点要闻回顾 低空经济:浙江省低空产业发展有限公司揭牌成立,合肥出台政策 支持低空经济发展,相关产业链有望持续受益。浙江省低空产业发 展有限公司揭牌成立。注册资本 10 亿元,该公司将积极构建 "1+1+3"低空产业发展体系。《合肥市支持低空经济发展若干政 策》发布。提出对新引进的低空经济新型研发机构,给予每年最高 ...

预计 6 月乘用车零售同比-7.6% ——汽车行业周报(2024/06/24~2024/06/28) ◼ 行情回顾 过去一周(2024/06/24~2024/06/28),申万汽车行业下跌 2.09%,表现 弱于同花顺全 A,所有一级行业中涨跌幅排名第 16。细分板块涨跌 幅:过去一周(2024/06/24~2024/06/28),汽车零部件跌幅最小,汽车 服务跌幅最大。汽车零部件下跌 1.60%,乘用车下跌 2.11%,摩托车 及其他下跌 3.71%,商用车下跌 3.72%,汽车服务下跌 5.86%。 ◼ 核心数据 数据跟踪: 1)行业总量:据中汽协数据,2024 年 5 月汽车销量约 241.7 万辆, 环比+2.5%,同比+1.5%。 2)车企端:据乘联会数据,2024 年 5 月,比亚迪、一汽大众和吉利 零售销量位列前三,分别约 26.8、12.4 和 12.4 万辆,份额分别约为 15.6%、7.2%和 7.2%。其中奇瑞汽车销量同比约+59.3%。 3)周度数据: 据乘联会数据,2024 年 6 月 1-23 日,乘用车市场零售 约 108.7 万辆,同比 2023 年同期下降 12%,较上月同期 ...

电子 行业研究/行业周报 A 大厂 NAND 开工率升至 70%,SK 海力士 3D DRAM 良率尚佳 ——存储芯片周度跟踪(2024.06.24-2024.06.28) ◼ 核心观点 NAND:NAND颗粒市场价格小幅波动,NAND生产开工率上升带动 韩国半导体材料供应商业绩增长。根据 DRAMexchange,上周 (0624-0628)NAND 颗粒 22 个品类现货价格环比涨跌幅区间为1.72%至 0.13%,平均涨跌幅为-0.33%。其中 7 个料号价格持平,3 个 料号价格上涨,12 个料号价格下跌。根据 CFM 闪存市场报道,去 年,由于需求低迷,三星电子和 SK 海力士将 NAND 工厂的开工率降 至 20-30%,今年开工率已上升至 70%以上。Soulbrain 和 Wonik Materials 等韩国供应商已经扩大了供应能力,以满足 4 月份开始量产 的三星第 9 代 NAND 所需材料日益增长的需求。 DRAM:颗粒价格小幅波动,SK 海力士 3D DRAM 制造良率曝光。 根据 DRAMexchange,上周(0624-0628)DRAM 18 个品类现货价格 环比涨跌幅区间为- ...

Investment Rating - The industry investment rating is maintained as "Accumulate" [2] Core Viewpoints - The continuous promotion of 5G-A commercialization is a key focus, with significant opportunities for operators in low-altitude economy, autonomous driving, and industrial metaverse as 5G-A networks evolve [7][8] - The AI-driven demand for computing power is expected to benefit the domestic optical communication industry, with strong growth anticipated [7][8] - The domestic smartphone market showed robust growth in May 2024, with a year-on-year increase of 16.5% in shipments, indicating a positive outlook for mobile internet traffic demand [7][8] Summary by Sections 1. Core Viewpoints and Investment Recommendations - The report emphasizes the ongoing commercialization of 5G-A, which enhances network throughput and reduces latency, creating new business opportunities for operators and related equipment manufacturers [7] - The report suggests focusing on the AI-driven computing power supply chain and the long-term opportunities in satellite internet [8] 2. Market Review 2.1. Sector Performance - The A-share Shenwan Communication Index fell by 1.72% from June 24 to June 28, underperforming the CSI 300 Index by 0.75 percentage points [9] - The communication services sector performed better, increasing by 1.52%, while the communication equipment sector declined by 3.22% [11] 2.2. Individual Stock Performance - The top-performing stocks included "Online and Offline" (+17.62%) and "Huama Technology" (+7.85%), while the worst performers included *ST Pengbo (-22.52%) and Tianfu Communication (-11.84%) [13][14] 3. Industry News - China Mobile hosted the "Hand in Hand Plan" global partner conference during the 2024 MWC Shanghai, gathering over 300 guests from various countries [15] - The 2024 GTI International Industry Conference focused on the integration of 5G and AI, with participation from major industry players [16] - ZTE released a white paper on 5G RedCap technology during the MWC Shanghai, promoting its commercial development [17] 4. Company Dynamics - ZTE announced its capabilities in "Vehicle-Road-Cloud Integration," offering various products for smart connected vehicles [18] - The company "Electric Science Chip" is actively expanding into the automotive electronics market, focusing on satellite communication and vehicle navigation [19] - "Yutong Optoelectronics" is expanding its submarine cable business in Southeast Asia, collaborating with local operators [20] 5. Company Announcements - Newyi Sheng announced a cash dividend of 1.55 RMB per 10 shares, while Datang Telecom reported progress on asset restructuring [21]