山西证券：研究早观点-20241121

Group 1: Industry Overview - The global 6G standardization work has officially started, marking a new phase in 6G research and application [4][5] - The 2024 Global 6G Development Conference was successfully held in Shanghai, reigniting market interest in 6G investment concepts [5] - Key research areas for 6G include integrated sensing and communication, wireless artificial intelligence, space-ground integration technology, intelligent reflecting surface technology, data services, new transmission protocols, and computing networks [5] Group 2: AI-RAN Development - Nvidia and SoftBank announced a series of collaboration plans, with SoftBank utilizing Blackwell to build Japan's most powerful AI supercomputer [6][7] - The AI-RAN solution has been successfully commercialized, demonstrating significant improvements in device utilization and enabling new edge AI applications [10] - The introduction of AI-RAN is expected to drive the application of 5G private networks in edge computing, with domestic operators having rich experience in mixed deployment of 5G base stations and GPU computing [10] Group 3: Photovoltaic Industry Insights - N-type battery prices have increased, while polysilicon and module prices remained stable, and silicon wafer prices decreased [21][22] - The average price of polysilicon is 40.0 CNY/kg for dense material and 36.5 CNY/kg for granular silicon, with overall trading volume being moderate [21] - The Ministry of Industry and Information Technology has released new manufacturing standards for the photovoltaic industry, aiming to reduce energy consumption and improve production efficiency [27][29] Group 4: Market Recommendations - Recommended companies in the photovoltaic sector include Aiko Solar, Longi Green Energy, and leading energy storage firms such as Aters and Sungrow [23][30] - The report suggests focusing on companies with strong technological advancements and those positioned to benefit from the ongoing transition towards higher quality production standards [30] - The report highlights the importance of domestic manufacturers in the rolling functional components sector, emphasizing the low domestic market share in high-end products [17]