计算机行业周观点：数据要素政策密集出台，重点关注公共数据的要素价值释放

Investment Rating - The industry is rated as "stronger than the market," indicating a projected relative increase of over 10% in the industry index compared to the broader market within the next six months [45]. Core Insights - The report highlights the recent decline in the CSI 300 index by 3.25% and a 1.44% drop in the Shenwan Computer Industry index, which outperformed the broader index by 1.81 percentage points, ranking it fourth among Shenwan's primary industries. The focus is on investment opportunities arising from the data element industry chain and AI large model applications [1][21]. - Recent policy developments include the issuance of guidelines for national data standards and opinions on accelerating the development and utilization of public data resources, which are expected to enhance the value of data elements [10][11][12][14]. - The report notes a low industry valuation compared to historical averages, with the Shenwan Computer Industry's PE (TTM) rising to 41.25 times, below the historical average of 47.79 times since 2016 [27]. Summary by Sections Industry Dynamics - The National Development and Reform Commission and other departments issued the "National Data Standard System Construction Guidelines" on October 8, aiming to establish a comprehensive data standard system by the end of 2026 [10]. - The Central Committee and State Council released opinions on accelerating the development and utilization of public data resources, targeting a preliminary establishment of rules by 2025 and a mature system by 2030 [11]. - The National Development and Reform Commission solicited public opinions on the "Interim Measures for the Registration and Management of Public Data Resources" on October 12, focusing on standardizing registration and management processes [12]. - The National Data Bureau also sought public input on the "Implementation Norms for Authorized Operation of Public Data Resources" on October 12, emphasizing the need for fair competition in data operations [14]. Market Performance - The report indicates that over half of the stocks in the computer sector declined, with 270 out of 355 stocks falling, representing 76.06% of the total [2]. - The average daily trading volume in the computer industry increased by 23.39% compared to the previous week, reaching 2,646.03 billion yuan [29]. Investment Recommendations - The report suggests focusing on digitalization, intelligence, and trusted innovation (信创) as key investment themes. Specific areas of interest include the exploration of public data authorization operations, the application of data elements in key industries, and the development of data trading platforms [41]. - In the intelligence sector, attention is drawn to the opportunities presented by domestic AI large models and the impact of reduced prices on model usage and product deployment [41]. Company Dynamics - The report notes significant trading activity in the computer sector, with a total of 3.58 billion yuan in block trades recorded [34]. - It also highlights upcoming unlocks of restricted shares in the sector, with notable percentages of total shares being released [37].