政策支持下的计算机标的选择

Investment Rating - The industry rating is "Overweight" [1] Core Viewpoints - The computer sector's valuation is at a low level, indicating potential for recovery [1][2] - As of September 25, the computer industry index has decreased by 25.6% year-to-date, with a PEttm of 48 times, placing it at the 17.8% percentile over the past decade [1][2] - In the first half of the year, the median revenue growth was 1.6%, while net profit attributable to the parent company decreased by 13.1%, and the non-recurring net profit fell by 8.3% [1][3] - Compared to previous years with similar declines in net profit, the current overall valuation level of the industry has significant room for recovery [3] Summary by Relevant Sections Policy Support - Multiple policies have been introduced, including consumption stimulus policies, capital market promotion policies, and support for self-controllable and trusted technology, which are expected to benefit various sub-sectors and drive performance recovery [1][7] - The consumption stimulus is favorable for companies like Shiji Information and Huina Technology, while the increase in total consumption will also boost transaction volumes for offline payment companies such as Newland, New Guodu, and Lakala [7][8] - The promotion of capital market prosperity will enhance demand for C-end financial information services, benefiting companies like Tonghuashun and Caifutong [7][8] - Addressing barriers to fund entry in social security, insurance, and wealth management will create B-end IT construction demand, positively impacting companies like Hengsheng Electronics and Dingdian Software [7][8] - The self-controllable initiative includes industrial software and IT infrastructure, benefiting companies such as Zhongkong Technology and Kingsoft Office [7][8]