TMT行业月报：光缆市场集中度提高，纯血鸿蒙开启公测

Investment Rating - The investment rating for the industry is "Neutral," indicating that the industry index is expected to fluctuate between a 10% gain and a 10% loss relative to the broader market over the next six months [47]. Core Insights - The report highlights a significant rebound in the A-share market, with the Shanghai and Shenzhen 300 Index rising by 20.97% from September 1 to September 30, 2024. The communication sector saw a 24.6% increase, while the computer sector rose by 34.93% [11][14]. - The report notes that the domestic telecom business volume decreased by 8.24% in August 2024, but the cumulative revenue for the first eight months grew by 2.7% year-on-year [15]. - In the optical cable sector, the concentration of suppliers has increased due to a reduction in the number of winning bids in 2024, which is expected to accelerate industry consolidation and benefit leading companies [20][27]. Summary by Sections 1. Market Review - The A-share market experienced a broad rally, with all sectors showing gains, particularly the communication and computer sectors [11][14]. 2. Communication Industry - The domestic telecom business volume was 137.8 billion yuan in August 2024, reflecting an 8.24% year-on-year decline. However, the cumulative revenue for the first eight months reached 1,173.2 billion yuan, marking a 2.7% increase [15]. - The optical cable market is undergoing consolidation, with a decrease in the number of suppliers winning bids, which is expected to enhance the market position of leading firms [20][27]. 3. Computer Industry - The domestic software industry generated revenue of 1,206.3 billion yuan in August 2024, representing a year-on-year growth of 13.72% [28]. - The HarmonyOS NEXT system by Huawei was launched for public testing, with over 1 million applications already available, indicating a significant upgrade in performance and capabilities [32][35]. 4. Gaming Industry - In September 2024, 109 domestic online games received approval, with a notable increase in the number of game licenses issued compared to the previous year [36]. - The gaming market in China saw sales revenue of 33.64 billion yuan in August 2024, reflecting a 21.01% month-on-month increase and a 15.10% year-on-year increase [37]. - The overseas revenue from Chinese self-developed games reached 8.554 billion USD in the first half of 2024, showing a year-on-year growth of 4.24% [39][41].