Investment Rating - The report does not explicitly state an investment rating for the industry Core Insights - Digital technology has become the most concentrated area of global R&D investment, driving profound changes in technology, economy, and society, with cities playing a crucial role in this transformation [4] - The report emphasizes the integration of information technology innovation with urbanization to accelerate the growth of the digital economy and build a more inclusive digital society [4] - The report builds on the 2023 "Digital City Industry Research Report" and aligns with the recent guidelines issued by four ministries to promote comprehensive urban digital transformation [5] Policy Perspective - The report outlines the historical significance of the national strategy for integrating digitalization with urbanization, highlighting the achievements in digital infrastructure and data resource accumulation over the past decade [10] - It emphasizes the need for a new top-level design that aligns with high-quality economic development and proposes a path for digital empowerment to enhance urban efficiency and quality [10][12] - The report identifies four key areas for urban digital transformation: data resource system enhancement, integrated urban development, operational efficiency, and synchronized institutional reforms [12][39] Industry Perspective - The report categorizes the urban operational intelligence hub as the "brain" of the city, which integrates various information for comprehensive decision-making [43] - It identifies three main models of intelligent hubs: business collaboration support, technology platform empowerment, and digital resource coordination [43][46] - The report highlights successful case studies from cities like Guangzhou and Shenzhen, showcasing the implementation of intelligent hubs that enhance operational efficiency and service delivery [44][31] Future Outlook - The report calls for strengthened coordination and collaboration to foster high-quality urban development, emphasizing the importance of technology and public participation [86][81] - It suggests that the digital transformation of cities should focus on comprehensive cooperation, international collaboration, and the sharing of successful practices [85][81]

量子精密测量领域不同技术方案与传感测量产品的技术成熟度 各异，如图 16 所示。微波原子钟等量子时频基准产品已在秒定义、 世界协调时、卫星定位导航等领域广泛应用，新一代光学原子钟、 核钟研究蓬勃发展，有望进一步提升时间频率计量精度。原子干涉 磁力仪和重力仪等已有样机产品，在心/脑磁医疗检测、地质资源勘 测等领域开展示范应用。量子陀螺仪和加速度计组成量子惯性导航 系统，里德堡原子天线电场测量系统和量子雷达等技术，未来有望 量子信息技术发展与应用研究报告（2024 年） 来源：中国信息通信研究院根据公开信息整理 图 16 量子精密测量主要技术方案与产品发展成熟度 128 https://doi.org/10.1103/PhysRevLett.131.210801 129 http://doi.org/10.1088/2058-9565/ad124d 量子信息技术发展与应用研究报告（2024 年） 新材料、新原理、新效应进一步拓展量子精密测量技术方案边 界。2024 年 4 月，德国维尔茨堡大学基于量子反常霍尔效应提出了 新型量子电阻标准131，提高电阻测量的准确性，无需任何外部磁场， 有望改进现有计量标准。7 月 ...

Group 1 - The report highlights the significant potential of digital consumption in expanding domestic demand, emphasizing its role as a key driver for economic growth in China [1][84][108] - Digital consumption is rapidly developing, with various sectors showing strong growth, including a 60.6% increase in live e-commerce sales and a 23.5% contribution rate from online travel, entertainment ticketing, and online dining to total online retail sales [5][91][110] - The report indicates that consumer attitudes towards digital consumption are positive, with 96.7% of respondents willing to engage in digital consumption, particularly among younger generations [10][114] Group 2 - The report identifies a trend of consumers seeking personalized and customized services, with 35.9% of respondents expressing interest in such offerings, particularly among the younger demographic [116] - There is a notable increase in the willingness to pay for quality digital content, with women showing a higher propensity for entertainment-related purchases compared to men [122] - The report emphasizes the importance of consumer rights protection, with 85.7% of respondents relying on third-party evaluations and user reviews to inform their purchasing decisions [124][126] Group 3 - The report discusses the ongoing efforts to enhance digital consumer rights protection, with a focus on improving the effectiveness of these measures, as evidenced by a 7.1 out of 10 satisfaction score from consumers regarding protection efforts [99][130] - It highlights the need for a robust framework to address the evolving landscape of digital consumption, including the integration of artificial intelligence and the protection of vulnerable groups such as the elderly and minors [80][99] - The report calls for collaborative efforts among various stakeholders to strengthen consumer rights protection, ensuring a safe and trustworthy digital consumption environment [92][113]

Industry Overview - The computing power network is a new type of infrastructure that integrates computing resources (CPU, GPU, FPGA) with communication networks, enabling unified perception, orchestration, and scheduling of computing power through a "computing brain" [9] - The global computing power network industry is rapidly developing, with countries like the US and EU investing heavily in supercomputers and edge computing nodes [9][10] - China has established a computing power network service system with sufficient resource reserves, initial scheduling capabilities, and emerging trading models, with a total computing power scale of 246 EFLOPS (FP32) as of June 2024 [126] Key Technologies - Computing power network introduces key technologies such as computing power perception, measurement and modeling, orchestration and scheduling, and network bearing to achieve ubiquitous connection and flexible scheduling of computing resources [59] - Computing power routing, native computing power, and fully scheduled Ethernet are original technological breakthroughs in China's computing power network [114] - SRv6, network slicing, network perception, and deterministic network technologies provide efficient collaborative connections and transmission capabilities for the upper layers [60] Application Scenarios - Computing power network applications can be categorized into life scenarios (VR, cloud gaming, live streaming), industry scenarios (smart transportation, healthcare, IoV), and social scenarios (digital government, platform-based computing power sharing) [36] - The computing power network provides edge, edge cloud, and central cloud computing power services for scenarios like vehicle-road collaboration, enabling low-latency, quasi-real-time, and non-real-time computing power supply [123] Data Security Challenges - The computing power network faces data security risks such as increased exposure due to cross-node, cross-entity, and cross-domain data flow, complex data flow paths, and new risks from network technologies like SRv6 [131][144][125] - The infrastructure layer faces risks from weak computing nodes, inconsistent node security levels, and increased management complexity due to heterogeneous node access [42][158] - The orchestration layer faces risks from unique data resources becoming new attack targets and intelligent orchestration algorithms being vulnerable to data poisoning and model theft [63][77] Data Security Framework - The computing power network data security protection framework includes both management and technical aspects, with management focusing on organizational structure, personnel management, data classification, and permission management [175] - Technical measures are proposed for each layer: infrastructure layer (node data security, network infrastructure security), orchestration layer (orchestration data security, intelligent algorithm security), and operation service layer (user data security, operation data security) [50][65][165] - The framework emphasizes multi-level, multi-strategy comprehensive defense measures, such as path encryption, authentication, integrity verification, network isolation, and traffic monitoring for SRv6 risks [78] Development Recommendations - Accelerate technological innovation by promoting the integration of computing power network technology with security technology, and applying blockchain and privacy computing technologies in the computing power network environment [80] - Enrich integrated applications by encouraging the integration of computing network data security solutions with industry applications in smart finance, transportation, healthcare, and manufacturing [81] - Deepen industry-university-research collaboration to build a computing power network data security ecosystem, promoting international exchanges and cooperation [172]

Industry Investment Rating - The report highlights the rapid progress of the global autonomous driving industry, with leading companies like Waymo, Baidu, and Pony.ai accelerating the industrialization of autonomous driving [14] Core Viewpoints - Autonomous driving is accelerating the transformation of the automotive and transportation industries, becoming a key driver of new industrialization and the development of new productive forces [34] - Policy and regulatory frameworks are crucial for the industrialization of autonomous driving, with major countries and regions continuously updating and improving their regulatory frameworks to support the industry's development [35] - The integration of AI, advanced computing, and communication technologies with autonomous driving is driving significant advancements in vehicle computing power and cloud training capabilities [35] Policy and Regulatory Developments China - China is accelerating the construction of a "systematic linkage" policy and regulatory framework for autonomous driving, with pilot policies supporting the mass production of L3 and above autonomous vehicles [22] - The revision of the Road Traffic Safety Law and the issuance of guidelines for autonomous vehicle transportation safety services are providing clearer legal and regulatory support for autonomous driving [26] - Local governments like Wuhan and Beijing are leading in autonomous driving applications, with Wuhan opening over 3,378 km of test roads and Beijing launching autonomous vehicle services to the airport [28][47] United States - The US federal government is enhancing its regulatory framework for autonomous driving, with the NHTSA submitting progress reports and proposing new safety standards [78] - California remains a leader in autonomous driving policy innovation, with Waymo and Cruise leading in commercial deployment and testing [82] Europe - The EU is focusing on building a unified regulatory framework for autonomous driving, with new regulations on cybersecurity and software updates coming into effect in 2024 [85] - Germany has revised its Road Traffic Law to allow L4 autonomous vehicles to operate on public roads, promoting the commercialization of autonomous driving [87] Japan and South Korea - Japan has revised its Road Traffic Law to allow L4 autonomous buses and delivery vehicles to operate in sparsely populated areas [69] - South Korea is advancing its autonomous driving roadmap, aiming to achieve commercial robot delivery by 2026 and revising its Automobile Management Act to include cybersecurity and software update requirements [118] Industry Applications Autonomous Taxi (Robotaxi) - Robotaxi services are expanding rapidly, with Waymo achieving over 1 million miles of autonomous driving without human intervention and Baidu's Apollo Go completing over 7 million rides in China [98][100] Autonomous Delivery Vehicles - Autonomous delivery vehicles are gaining traction, with Nuro's fleet exceeding 1 million miles in California and Texas, and JD Logistics deploying over 600 autonomous delivery vehicles during the "Double 11" shopping festival [104][153] Autonomous Trucks - Autonomous trucks are making significant progress in mining and port operations, with companies like DeepWay and Pony.ai conducting large-scale testing and commercial applications [110][134] Challenges and Recommendations - The report identifies challenges such as the lack of public understanding of autonomous driving technology and the need for faster regulatory adjustments to keep up with industry advancements [143][145] - Recommendations include increasing public education, accelerating policy and regulatory innovation, and promoting the development of new infrastructure to support autonomous driving [168][169]

Industry Investment Rating - The report does not explicitly provide an overall investment rating for the information and communication industry [1] Core Views - The report highlights the increasing importance of sustainability and ESG (Environmental, Social, and Governance) disclosures in the information and communication industry, driven by both domestic and international regulatory pressures [8][18] - International standards and guidelines dominate the reference frameworks used in the industry, with over 80% of reports in the internet sector and over 80% in the communication sector relying on international certification bodies [5] - The industry is increasingly focusing on specific themes such as green operations, data security, and anti-corruption, with significant improvements in disclosure rates for these areas [21][9] Key Themes and Summaries Sustainability and ESG Disclosures - The industry has seen a significant increase in the adoption of international standards, with 84.62% of internet sector reports and over 80% of communication sector reports using international certification bodies in 2023 [5] - The United Nations Sustainable Development Goals (SDGs) and the UN Global Compact (UNGC) have been consistently ranked among the top 10 reference frameworks for the past four years [8] - The industry is moving towards more comprehensive and transparent ESG disclosures, with a focus on green operations, which saw a disclosure rate increase from 57.14% in 2021 to 97.22% in 2023 in the internet sector [21] Anti-Corruption and Business Ethics - Anti-corruption and business ethics have become critical areas of focus, with nearly 80% of industry companies disclosing related content as separate chapters in their reports [9] - The internet sector has a higher disclosure rate for behavior regulation mechanisms (84.93%) compared to the communication sector (61.90%) [42] - Companies are increasingly implementing digital platforms for anti-corruption monitoring, with some developing systems for case management and risk early warning [45] Supply Chain Management - Supply chain management is a key area of focus, with 97.01% of internet companies and 93.75% of communication companies disclosing related content in separate chapters [170] - The industry is adopting more stringent measures for supplier management, including sustainable procurement and supplier ESG performance evaluations [148][158] - Green supply chain practices are gaining traction, with 36.11% of internet companies and 52.46% of communication companies disclosing related initiatives [188] Minor Protection - Minor protection is a growing area of concern, with internet companies showing higher disclosure rates (20.46%) compared to communication companies (4.66%) [104] - Companies are implementing measures such as anti-addiction systems, privacy protection, and content management to comply with regulations and protect minors [96][113] - Disclosure rates for minor protection-related themes, such as "mission and vision" and "management responsibilities," remain low, indicating a need for greater focus and investment [90] Digital Transformation and Innovation - The industry is leveraging digital tools, including AI and big data, to enhance sustainability disclosures and improve operational efficiency [182] - Companies are using AI for content moderation, risk identification, and anti-corruption monitoring, with some achieving significant improvements in accuracy and efficiency [154][130] - The adoption of digital platforms for ESG data management is helping companies reduce compliance costs and improve the quality of their disclosures [182]

Investment Rating - The report does not explicitly provide an investment rating for the artificial intelligence industry. Core Insights - The artificial intelligence wave is transforming production and lifestyle at an unprecedented speed, with major countries prioritizing AI technology innovation as a national strategy [16][31] - The report highlights the rapid evolution of large models, the acceleration of AI engineering, and the importance of safety governance in AI applications [7][8][16] - The global AI industry is projected to reach $623.3 billion in 2024, with a year-on-year growth of 21.5% [31][36] Summary by Sections Overall Situation - AI technology is evolving towards a new paradigm, with breakthroughs in large models and multi-modal models [17][19] - AI engineering is entering a new stage, focusing on application development and deployment [21][23] - Global AI safety governance is advancing, with clearer frameworks emerging in major economies [27][29] - The AI industry is experiencing steady progress and new momentum, driven by the rapid development of large models and generative AI technologies [31][34] Technological Innovation - Basic models are rapidly evolving, with significant improvements in language, vision, and multi-modal capabilities [43][46] - The scaling law continues to drive model capabilities, with a notable increase in the number of foundational models [43][44] - The development of high-quality multi-modal datasets is crucial for enhancing model capabilities [43][44] Application Empowerment - AI applications are showing phased characteristics, with significant advancements in key industries [31][34] - The systematic promotion of AI applications is becoming a consensus across industries [31][34] Safety Governance - AI technology applications bring multiple challenges, necessitating robust safety governance frameworks [27][29] - Global cooperation in AI safety governance is intensifying, with various initiatives being launched [27][29] Development Outlook - The report anticipates further expansion of AI applications in the real economy, particularly in manufacturing [8][31]

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The OSGMM 2024 report analyzes open source governance activities across 121 companies from seven major industries, revealing a significant focus on risk management and compliance issues related to open source software [7][10] - Over 53% of surveyed companies lack a clear open source governance plan, indicating a gap in strategic awareness [18] - The report highlights that 100% of surveyed companies track open source vulnerabilities post-adoption, showcasing a strong emphasis on security [28] Summary by Sections Overview - The OSGMM framework consists of three capability elements and seven process stages, aimed at managing open source software risks effectively [12] - The report identifies key activities in open source governance, with the top ten activities being crucial for successful governance practices [14] Insights - The report indicates that 97% of companies address open source component vulnerabilities through version upgrades, while 72% apply manual patches [22] - A significant portion of companies (86%) only use external open source community projects without contributing back, reflecting a limited engagement with the open source ecosystem [25] - The governance maturity levels are categorized into three stages: Basic, Enhanced, and Advanced, with varying capabilities across different industries [12][41] Industry Comparisons - Financial and telecommunications industries show different focuses and maturity levels in open source governance, with financial institutions being more regulated and thus more mature in risk management [40] - The automotive industry excels in management systems and development testing, while the manufacturing sector shows relatively weaker governance capabilities [46][49] - The software and information services industry demonstrates higher maturity in governance compared to the internet industry, which prioritizes rapid innovation over strict governance [49][51] Areas for Improvement - The report identifies that over 38% of companies lack enterprise-level open source management systems, indicating a need for stronger governance frameworks [20] - Many companies do not have a clear plan for managing existing open source software, with over 65% lacking governance strategies for their software inventory [61] - The report emphasizes the necessity for companies to establish clear governance plans for third-party software management to mitigate compliance risks [62]

Investment Rating - The report does not explicitly state an investment rating for the industry Core Insights - The low-altitude economy refers to economic activities within the vertical height range of 1,000 to 3,000 meters, primarily involving manned and unmanned aircraft, including passenger and cargo transport, as well as related activities [4] - The development of the low-altitude economy has been elevated to a national strategic level in China, with policies encouraging the exploration and utilization of low-altitude airspace resources [5][11] - The low-altitude intelligent cloud plays a crucial role in the development of the low-altitude economy by aggregating and processing data related to communication, navigation, perception, and computing resources [5][6] Policy Trends and Market Analysis - The report outlines significant international policies promoting urban air mobility and low-altitude economic activities, including initiatives from the USA, EU, and Japan [9][10] - In China, the government has introduced specific action plans to accelerate the development of the low-altitude economy, emphasizing the integration of 5G and satellite internet technologies [11][12] - The low-altitude market in China is rapidly developing, with various companies conducting test flights and commercial operations in major cities [13][14] Low-altitude Intelligent Cloud System Overview - The low-altitude intelligent cloud technology system is making significant progress, integrating cloud computing, big data, and artificial intelligence to enhance data processing capabilities [15] - Key challenges include the high heterogeneity of low-altitude facilities, complex airspace environments, and the lack of industry cloud platforms to support low-latency, intelligent business scenarios [16][18] Low-altitude Intelligent Cloud Technology Applications - The technology architecture of the low-altitude intelligent cloud consists of infrastructure, collaborative platforms, and top-level applications [19][20] - The collaborative platform includes a low-altitude digital platform and a low-altitude business platform, which support various applications such as smart flight, monitoring management, and safety management [26][27] Industry Applications - In government scenarios, the low-altitude intelligent cloud supports highway inspections, emergency response, and water quality monitoring, significantly improving efficiency and safety [31][32] - In civil life scenarios, the technology facilitates low-altitude logistics, urban transportation, and entertainment, enhancing delivery speed and expanding application spaces [35][36]

Investment Rating - The report does not explicitly state an investment rating for the industry Core Insights - The low-altitude economy is emerging as a new economic growth point in China, with significant potential to transform traditional transportation networks and digital economy layouts into a three-dimensional space, creating a trillion-dollar industry space [12][20] - The low-altitude smart network serves as the digital foundation for the development of the low-altitude economy, addressing the needs for communication, monitoring, navigation, meteorology, and computing [13][38] - The report emphasizes the importance of low-altitude smart networks in ensuring the safety and efficiency of low-altitude operations, particularly as the scale and density of operations increase [41][70] Summary by Sections Section 1: Current Layout of the Low-Altitude Economy - The low-altitude economy is recognized as a strategic industry, creating a new market worth trillions, encompassing various sectors such as aviation equipment manufacturing and low-altitude applications [20][30] - Global countries are actively positioning themselves in the low-altitude economy, focusing on transportation and economic themes [26][29] Section 2: Definition and Importance of Low-Altitude Smart Networks - Low-altitude smart networks are defined as a digital system that collaborates through five networks: communication, perception, navigation, meteorology, and computing [32][35] - These networks are essential for the management and operation of low-altitude airspace, ensuring effective communication and monitoring [38][41] Section 3: Business Demands of Low-Altitude Smart Networks - The report outlines various application scenarios such as low-altitude logistics, inspection, emergency rescue, cultural tourism live streaming, manned flight, surveying, and agricultural protection, each with specific requirements for communication, navigation, perception, meteorology, and computing [43][45][67] - For instance, low-altitude logistics requires high data transmission rates and precise navigation for safe operations [47][48] Section 4: Development Trends and Key Layouts of Low-Altitude Smart Networks - The report suggests that the future of low-altitude operations will involve large-scale, high-density, and cross-regional flights, necessitating a robust regulatory and control system supported by low-altitude smart networks [41][70] - It highlights the need for continuous coverage and high precision in navigation and perception to ensure safety in urban environments [70][73]