中原证券：晨会聚焦-20250218

Core Insights - The report highlights the significant growth in the new energy vehicle (NEV) sector, with January sales reaching 1.015 million units, a year-on-year increase of 29% [5][8] - The communication industry is experiencing a transformation with the integration of AI technologies, particularly through the DeepSeek model, which is expected to enhance data-driven services and revenue growth [16][17] - The coal industry is undergoing a transition towards cleaner and smarter operations, with a focus on maintaining coal as a primary energy source in the near future [22][24] Domestic Market Performance - The Shanghai Composite Index closed at 3,355.83, with a slight increase of 0.27%, while the Shenzhen Component Index rose by 0.39% to 10,791.06 [3] - The average price-to-earnings (P/E) ratios for the Shanghai Composite and ChiNext are 14.21 and 38.49, respectively, indicating a suitable environment for medium to long-term investments [8][11] International Market Performance - The Dow Jones Industrial Average closed at 30,772.79, down by 0.67%, while the Nikkei 225 saw a slight increase of 0.62% to 26,643.39 [4] Industry Developments - The Ministry of Industry and Information Technology has issued a plan to enhance the competitiveness of the new energy storage manufacturing industry by 2027, focusing on technologies like supercapacitors and sodium batteries [5][8] - The telecommunications sector is seeing a rise in big data business revenue, with a 69.2% year-on-year increase, driven by the adoption of the DeepSeek model [17][19] Investment Recommendations - The coal sector is rated as "stronger than the market," with a focus on high-dividend, low-valuation companies, as the industry continues to show resilience despite recent price fluctuations [24][25] - The semiconductor and AI sectors are expected to attract significant investment, with a recommendation to monitor developments in these areas closely [29][31]