东兴证券东兴晨报

Group 1 - The core viewpoint of the report indicates that the A-share media and communication sector has shown mixed performance, with notable fluctuations in stock prices among key companies during the week of June 24-28, 2024 [1] - The report highlights that the media (Shenwan) index decreased by 0.96%, while the communication (Shenwan) index fell by 1.72%, reflecting a broader market trend where the Shanghai Composite Index dropped by 1.03% and the ChiNext Index fell by 4.13% [11] - The report notes that the strategic cooperation signed by Inspur Information with five computing operation companies in Nanjing is a significant development in the industry [2] Group 2 - The report emphasizes that Inspur Information has established itself as a leader in the domestic AI server market, being the second-largest server supplier globally and the largest AI server supplier as of 2023 [10] - It mentions that Inspur Information's new G7 computing platform, launched in 2023, includes 16 products designed for cloud computing, big data, and AI applications, achieving nearly seven times the performance improvement in AI training servers compared to the previous generation [10] - The report also states that nearly 70% of active users on Bilibili are from the post-90s and post-00s generations, indicating a strong engagement from younger demographics [3] Group 3 - The report discusses the real estate sector, noting that the sales decline among the top 100 real estate companies has narrowed, with significant month-on-month growth observed in state-owned enterprises [12][20] - It highlights that the sales amount for the top 100 real estate companies in the first half of 2023 was 2,011.59 billion yuan, with a year-on-year decline of 41.8% [19] - The report indicates that new home sales have shown signs of recovery, with a year-on-year sales area growth of -29.69% across 23 cities, an improvement from previous figures [31][47] Group 4 - The report outlines that the adjustment of housing loan policies in Beijing, including a reduction in the minimum down payment ratio and interest rate limits, is expected to stimulate demand in core cities [25][49] - It suggests that the recovery of the real estate market is heavily reliant on the performance of core first- and second-tier cities, which will benefit quality real estate companies and intermediaries [22][49] - The report predicts that the sales decline in July 2023 is likely to continue to narrow due to a low base effect from July 2022 [22][49]