| --- | --- | --- | |--------------------------------------------------------------------------------------------|--------|--------------------------------| | | | 证券研究报告 | | 电子 | | 报告日期： 2024 年 09 月 14 日 | | | | | | | | | | | | | | 华龙证券研究所 | 摘要： | | | 投资评级：推荐（维持） 最近一年走势 | | | | 分析师：景丹阳 执业证书编号： S0230523080001 | | | | 邮箱： jingdy@hlzqgs.com | | | | | | | | 相关阅读 | | | | 《行业底部基本确认，景气度有望复苏 —电子行业 2023 年报与 2024 年一季报 综述》 2024.05.26 | | | | | | | | | | | | | | | | | | | | 请认真阅读文后免责条款 | | | 景气度稳步提升，关注自主可控进展 ——电子行业 202 ...

| --- | --- | --- | |------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------| | | | 证券研究报告 | | 计算机 | | 报告日期： 2024 年 09 月 13 日 | | | | | | | | | | | | | | 华龙证券研究所 | 事件： | | | 投资评级：推荐（维持） 最近一年走势 | | | | | 观点： | | | | | | | | | | | | | | | 分析师：孙伯文 执业证书编号： | | | | S0230523080004 邮箱： sunbw@hlzqgs.com | | | | 联系人：朱凌萱 | | | | 执业证书编号： S0230124010005 | | | | 邮箱： zhulx@hlzqgs.com | | ...

偶倒 0680 （本刊物为中风险等级产品，敬请投资者参阅正文后的免责声明） 2024 年第 167 期，总第 1726 期（电子版） 2024 年 9 月 10 日 星期二 | --- | --- | --- | |----------------|--------------|-----------| | | | | | | | | | | 沪深指数 | | | | 收盘(点) | 涨跌幅(%) | | 上证指数 | 2736.49 | -1.06 | | 深证成指 | 8063.27 | -0.83 | | 中小 100 | 5198.48 | -0.89 | | 创业板指 | 1539.04 | 0.06 | | 沪深 300 | 3192.95 | -1.19 | | | 海外市场指数 | | | | 收盘(点) | 涨跌幅(%) | | 道琼斯 | 40829.59 | 1.2 | | 纳斯达克 | 16884.6 | 1.16 | | 标普 500 | 5471.05 | 1.16 | | 英国富时 100 | 8270.84 | 1.09 | | 日经 225 | 36151.15 | -0.1 ...

Market Overview - The market experienced a rebound on Tuesday, with the three major indices showing slight increases. The Shanghai Composite Index rose by 0.28%, the Shenzhen Component increased by 0.13%, and the ChiNext Index gained 0.06% [5][7]. - The total trading volume in the Shanghai and Shenzhen markets reached 527.6 billion yuan, an increase of 9 billion yuan compared to the previous trading day [5]. Financing Data - As of September 9, the financing balance on the Shanghai Stock Exchange was reported at 725.751 billion yuan, an increase of 0.036 billion yuan from the previous trading day. The Shenzhen Stock Exchange's financing balance was 649.129 billion yuan, up by 0.0127 billion yuan, bringing the total financing balance across both markets to 1,374.88 billion yuan, an increase of 0.0486 billion yuan [6]. Concept Highlights - The recent announcement by the Ministry of Commerce and other authorities regarding the expansion of pilot projects in the medical field for stem cell and gene diagnosis and treatment technology has positioned stem cells as a significant area of research in biomedicine, potentially leading to new treatment avenues for major diseases [8]. - The Counterpoint report indicates that HarmonyOS has achieved a global market share of over 4% in Q1 2024, surpassing iOS in the Chinese market, driven by the popularity of Huawei's flagship products. The ecosystem of HarmonyOS is expanding rapidly, covering 18 major sectors and supporting over 1,500 applications [8]. Stock Performance - A number of stocks reached their daily limit up, including: - Zhongguancun (000931.SZ) with a 9.92% increase due to a strategic cooperation agreement in the cardiovascular field [9] - Yangpu Medical (300030.SZ) surged by 19.96% driven by cell immunotherapy advancements [9] - Cambridge Technology (603083.SH) rose by 9.99% linked to high-speed optical modules and partnerships with Huawei and Microsoft [9]

偶倒 0680 （本刊物为中风险等级产品，敬请投资者参阅正文后的免责声明） 2024 年第 169 期，总第 1728 期（电子版） 2024 年 9 月 12 日 星期四 一、市场分析 一波更比一波低 | --- | --- | --- | |----------------|--------------|-----------| | | | | | | | | | | 沪深指数 | | | | 收盘(点) | 涨跌幅(%) | | 上证指数 | 2721.8 | -0.82 | | 深证成指 | 8105.38 | 0.39 | | 中小 100 | 5251.87 | 0.62 | | 创业板指 | 1558.33 | 1.19 | | 沪深 300 | 3186.13 | -0.3 | | | 海外市场指数 | | | | 收盘(点) | 涨跌幅(%) | | 道琼斯 | 40861.71 | 0.31 | | 纳斯达克 | 17395.53 | 2.17 | | 标普 500 | 5554.13 | 1.07 | | 英国富时 100 | 8193.94 | -0.15 | | 日经 225 | 3 ...

偶倒 0680 （本刊物为中风险等级产品，敬请投资者参阅正文后的免责声明） 2024 年第 170 期，总第 1729 期（电子版） 2024 年 9 月 13 日 星期五 一、市场分析 寻底之路漫漫 | --- | --- | --- | |----------------|--------------|-----------| | | | | | | | | | | 沪深指数 | | | | 收盘(点) | 涨跌幅(%) | | 上证指数 | 2717.12 | -0.17 | | 深证成指 | 8054.24 | -0.63 | | 中小 100 | 5205.51 | -0.88 | | 创业板指 | 1551.81 | -0.42 | | 沪深 300 | 3172.47 | -0.43 | | | 海外市场指数 | | | | 收盘(点) | 涨跌幅(%) | | 道琼斯 | 41096.77 | 0.58 | | 纳斯达克 | 17569.68 | 1 | | 标普 500 | 5595.76 | 0.75 | | 英国富时 100 | 8240.97 | 0.57 | | 日经 225 | 3 ...

证券研究报告 计算机 报告日期：2024 年 09 月 11 日 华为全联接大会召开在即，关注鸿蒙、昇腾生态建设 ——计算机行业事件点评 华龙证券研究所 最近一年走势 分析师：孙伯文 2024 年华为全连接大会前瞻：第九届华为全联接大会（HUAWEI CONNECT 2024）将于 2024 年 9 月 19 日-21 日在上海举办。根 据华为官方议程，本次大会的内容/议题包括：（1）鲲鹏、昇腾 算力底座；（2）鸿蒙生态构建/原生开发；（3）发布华为云开发 者/伙伴计划；（4）行业数智化转型。其中，行业数智化将涉及 到数智金融、智慧制造、智慧港口、智慧矿山、智慧油气、智慧 教育、智慧医疗、智慧政务、智慧交通、ISP 与互联网等。 执业证书编号：S0230523080004 邮箱：sunbw@hlzqgs.com 联系人：朱凌萱 执业证书编号：S0230124010005 邮箱：zhulx@hlzqgs.com 鸿蒙生态建设加速，昇腾计算生态有望持续赋能各行各业。华为 鸿蒙生态正在加速阶段，截至 6 月，鸿蒙生态设备数量已超过 9 亿，有超过 254 万的 HarmonyOS 开发者，5000 多个常用应用已 ...

证券研究报告 机械设备 报告日期：2024 年 09 月 10 日 行业整体利润承压，细分赛道存结构性投资机会 ——机械设备行业 2024 年半年报综述 华龙证券研究所 最近一年走势 增收不增利，行业整体利润承压。机械设备行业 2024 年上半年 实现营业收入 9244.59 亿元，同比+4.86%，实现归母净利润 627.46 亿元，同比-4.75%。单二季度：营收增速为 3.22%，同比-3.29pct， 环比-0.5pct，营业收入整体保持平稳增长趋势；归母净利润增速 -9.54%，同比-15.34pct，环比-12.21pct，整体二季度呈边际减弱 现象。 投资评级：推荐（维持） 分析师：邢甜 专用设备：内部分化，纺服设备&农机表现较好。专用设备 2024 年上半年实现营业收入 2422.65 亿元，同比+3.74%；实现归母净 利润 164.43 亿元，同比+2.22%。专用设备内部分化，农机受政策 补贴，需求向好，收入及利润均有所恢复；纺织服装设备受海外 补库影响，景气上行；楼宇设备受房地产影响较大，"更新改造 +老楼加装电梯"政策促进，基本面预期边际改善。 执业证书编号：S02305210400 ...

Investment Rating - The report maintains a "Buy" rating for the company [1][3]. Core Viewpoints - The company, as a leader in elevator media advertising, is experiencing a recovery in performance, with a significant increase in revenue and profit margins [1][3]. - The advertising market is gradually recovering, with a notable increase in advertising spending, particularly in elevator media, which is becoming a crucial pillar of the advertising market [1][3][27]. - The company is actively leveraging AIGC technology to enhance its marketing capabilities, with a growing number of advertisers adopting AIGC in their promotional activities [1][3][34]. Summary by Sections Company Overview - The company was established in 2003 and pioneered the elevator media advertising model, becoming the first Chinese advertising media stock listed on NASDAQ in 2005 [9]. - The company focuses on elevator media, creating a high-frequency, low-interference advertising model that targets mainstream consumer groups [9][16]. - The company's revenue from elevator media has consistently accounted for over 90% of total revenue from 2020 to 2023 [17]. Industry Overview - The advertising market is recovering, with a 6% year-on-year increase in overall advertising spending in 2023 [27]. - The elevator media market is expanding, supported by urbanization trends and increasing elevator ownership in China, which has grown from 361,700 units in 2002 to 10,629,800 units in 2023 [28][30]. - AIGC technology is becoming a focal point for advertisers, with 69.6% of advertisers using AIGC in 2023, expected to rise to 78.9% in 2024 [34]. Competitive Advantages - The company enjoys high customer loyalty and is recognized as a leader in the elevator media advertising sector, with superior return on equity compared to peers [37]. - The company is expanding its overseas presence and actively exploring AIGC technology applications in marketing [1][3][37]. Profit Forecast - The company is projected to achieve revenues of 12.87 billion, 13.79 billion, and 14.62 billion yuan for 2024, 2025, and 2026, respectively, with corresponding net profits of 4.87 billion, 5.23 billion, and 5.88 billion yuan [4][3].

证券研究报告 计算机 报告日期：2024 年 09 月 10 日 《人工智能安全治理框架》1.0 版发布，关注 AI 安全布局机会 ——计算机行业事件点评 华龙证券研究所 最近一年走势 分析师：孙伯文 《人工智能安全治理框架》1.0 版正式发布，有望为我国 AI 产业 规范化发展贡献力量。2024 年 9 月 9 日，2024 年国家网络安全 宣传周主论坛在广州举办，全国网络安全标准化技术委员会于主 论坛上发布《人工智能安全治理框架》1.0 版（下称《框架》1.0 版）。《框架》1.0 版提出了人工智能安全治理原则，将人工智能安 全风险分为内生安全风险和应用安全风险两种，并针对两种风险 分别提出了技术应对措施。另外，《框架》1.0 版还提出了综合治 理措施和面对四类人群的人工智能开发应用指引。 执业证书编号：S0230523080004 邮箱：sunbw@hlzqgs.com 大模型提效降价有望推动 AI 应用，AI 安全治理需求有望随 AI 应用落地而逐步释放。2024 年 9 月 5 日，腾讯推出新一代大模型 "混元 Turbo"，相比前代模型训练效率提升 108%，推理效率提 升 100%，推理成本降低 ...