通信行业投资策略周报：华为开发者大会回顾：持续强化AI布局，推理需求有望迎来新增长

Investment Rating - The industry investment rating is "Buy" [1] Core Viewpoints - Huawei's recent developer conference highlighted the launch of HarmonyOS NEXT and advancements in AI capabilities, indicating a strong focus on AI integration within its ecosystem [6][9] - The AI market is becoming increasingly competitive, with major players like Apple and Huawei emphasizing their AI strategies, which are expected to drive significant growth in cloud inference demand [9][6] - The report recommends focusing on companies like Tianfu Communication and Xinyi Sheng due to their potential in the growing AI and cloud computing sectors [9] Summary by Sections 1. Core Viewpoints - Huawei's HarmonyOS NEXT system is entering the Beta phase, integrating AI capabilities to enhance user experience and support third-party applications [6] - The "Xiao Yi" intelligent assistant has seen significant upgrades, improving its multi-modal recognition and processing capabilities [6] - The competition in the AI market is intensifying, with both Apple and Huawei launching their respective AI initiatives, which are expected to attract consumer interest and drive demand [9] 2. Market Review - The communication sector outperformed the broader market, with a weekly increase of 1.28%, while the CSI 300 index decreased by 1.30% [11] - Year-to-date, the communication sector has shown a growth of 5.4%, significantly outperforming both the ChiNext and CSI 300 indices [13] 3. Industry Data Updates - As of the end of 2023, China has built 3.377 million 5G base stations, marking a net increase of 1.065 million from the previous year [23] - In April 2023, the domestic smartphone market saw shipments of 24.071 million units, with 5G smartphones accounting for 84.1% of total shipments [25] - By April 2024, China Mobile reported a total of 790 million 5G package users, while China Telecom reported 331 million [28] 4. Recent News Highlights - A significant investment of 17.1 billion yuan has been approved for the "Vehicle-Road Cloud Integration" project in Wuhan, indicating a push towards smart transportation infrastructure [37] - China Telecom is initiating a large-scale procurement of IPTV smart set-top boxes, with a total scale of 20.32 million units planned [39]