电子行业周报：HarmonyOS NEXT、盘古大模型5.0亮相，尽显华为系统级AI生态建设

Investment Rating - The report suggests a positive outlook for the electronic sector, recommending a focus on AI chips, optical modules, cyclical bottoming, domestic substitution, and IoT as the four main investment themes [7][10]. Core Insights - The launch of HarmonyOS NEXT and Pangu Model 5.0 at the Huawei Developer Conference 2024 highlights Huawei's system-level AI ecosystem development, which is expected to empower terminal devices and stimulate a new wave of device upgrades [7][8]. - The electronic industry is currently in a phase of supply-demand balance recovery, with valuations at historical lows, indicating potential for growth [7][10]. - The semiconductor sector has shown resilience, with the semiconductor sub-sector rising by 3.08% and outperforming the broader market [27][29]. Summary by Sections Industry Overview - The electronic sector is experiencing a recovery phase, with demand gradually improving and prices returning to normal levels. The report emphasizes the importance of domestic production capabilities amid international pressures [10][21]. Key Developments - HarmonyOS NEXT has undergone significant upgrades, featuring a new architecture that eliminates reliance on Android code, thus enhancing its capabilities for a fully integrated ecosystem [8]. - Pangu Model 5.0 has been upgraded across three dimensions: full series, multi-modal, and strong cognitive abilities, making it suitable for various applications [9][15]. Market Performance - The report notes that the electronic industry outperformed the market, with the Shenzen 300 index down by 1.30% while the Shenwan electronic index rose by 1.86%, marking a 3.16 percentage point outperformance [27][29]. - As of June 21, 2024, the electronic sub-sectors showed varied performance, with semiconductor and consumer electronics sectors gaining 3.08% and 3.11% respectively [27][29]. Investment Recommendations - The report advises investors to focus on AI-driven sectors, high elasticity segments expected to bottom out, and domestic substitution in the semiconductor supply chain [10][21]. - Specific companies to watch include Cambricon, Haiguang Information, and Longxin Zhongke in the AI chip space, as well as various players in the optical device and storage sectors [10].