Group 1 - The current smartphone market is experiencing a mild recovery, driven by AI integration and subsidy policies, which are expected to boost mobile phone sales back into a growth cycle [1][2] - Silicon-carbon anode materials are likely to become the mainstream technology route due to their high energy density, addressing the high energy consumption characteristics of AI phones [1][2] - VC uniform heat plates are anticipated to have long-term development space under the trend of AI terminal development [1][2] Group 2 - Layered OLED displays, known for their high brightness, low energy consumption, and long lifespan, are expected to become an important trend in mobile screen development [1][2] - The emergence and popularization of large AI models are opening up a new development path for AI glasses, with major manufacturers' layouts likely to accelerate their market introduction [1][2] Group 3 - The Central Political Bureau meeting emphasized the need to boost consumption and improve investment efficiency to expand domestic demand comprehensively [3] - Policies promoting consumption, such as trade-in programs for consumer goods, have shown significant effects, particularly in mobile phone subsidies and promotions for 3C products [3] - Chip companies with a high proportion of storage and analog products in the downstream 3C sector are expected to benefit from the recovery and innovation driven by consumption stimulation [3] Group 4 - The rapid growth of global large models and the increasing computational demands of individual models have significantly raised the demand for computing chips in both training and inference stages [4] - NVIDIA's launch of the GB300 series in March 2025, which offers 1.5 times the AI performance of its predecessor, highlights the advancements in computing power [4] - The demand for AIoT products is expected to grow as downstream application scenarios become increasingly diverse, with inference sides becoming a long-term driving force in the computing industry chain [4] Group 5 - In 2025, significant changes in global supply and demand are anticipated, with a focus on AI hardware deployment and domestic demand-driven upgrade needs on the demand side [5] - The supply side will focus on the domestic substitution of the semiconductor industry, with four investment themes suggested: AI terminals, domestic demand recovery, computing infrastructure, and self-sufficiency [5] - Specific recommendations include focusing on AI phones and glasses, semiconductor cycle recovery, GPU and PCB industries, and advanced packaging supply chains [5]
国联民生证券：AI赋能终端硬件换机与升级 自主可控持续受益
智通财经网·2025-06-27 07:23