智通决策参考︱5月行情值得期待

Market Overview - The Hang Seng Index showed upward movement at the end of April, providing guidance for May's market trends [1] - Historically, overseas markets tend to rise during long holidays, with notable increases in AI giants' stock prices, such as Microsoft and Mate [2] Economic Indicators - The U.S. non-farm payroll data for April exceeded expectations, with an increase of 177,000 jobs compared to the forecast of 138,000 [3] - The upcoming Federal Reserve meeting on May 7 is expected to maintain current interest rates, with a strong focus on the strengthening of the RMB, which recently surpassed the 7.20 mark for the first time since November [4] - The fiscal deficit for the year is projected at 5.66 trillion yuan, an increase of 1.6 trillion yuan from the previous year, indicating a higher deficit rate of 4% [4] Industry Trends - The release of the Harmony OS PC version is anticipated soon, which aims to reduce reliance on Windows and create a self-sufficient ecosystem, potentially reshaping the PC market [5] - Xiaomi's MiMo model, with a parameter scale of 7 billion, is designed for lightweight deployment, particularly in mobile and automotive applications [5] - The humanoid robot market is expected to see significant growth, with projections indicating that humanoid robots will enter the general product category by 2026, reaching a production or sales threshold of 100,000 units [5] Company Performance - UBTECH Robotics (09880) is projected to achieve a revenue of 1.305 billion yuan in 2024, a year-on-year increase of 23.7%, driven by growth in educational and customized intelligent robot products [6] - The company’s revenue from educational robots and solutions is expected to reach 363 million yuan, while revenue from customized robots is projected to grow by 126.1% to 141 million yuan [6][7] - The company has made advancements in navigation, machine vision, and AI integration, which are expected to accelerate the industrialization of humanoid robots [8] AI Industry Developments - The AI sector remains a focal point in the U.S.-China tech rivalry, with recent calls for restrictions on AI technology flow to China [9] - Major Chinese tech companies are ramping up AI development, with Alibaba and Tencent making significant advancements in their AI models [9] - Upcoming releases and investments in AI infrastructure are expected to catalyze growth in the technology sector, with Huawei set to launch new products in May [9] Market Sentiment - The Hang Seng Index is showing bullish sentiment, supported by a concentration of market interest in technology and consumer sectors, particularly in robotics and AI applications [10][11]