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计算机行业点评:2025年政府工作报告发布,信创与AI迎来政策与市场双重红利
Ping An Securities·2025-03-07 03:37

Investment Rating - The industry investment rating is "Outperform the Market" [11] Core Insights - The government work report emphasizes the importance of technological self-reliance and digital economic development, which are expected to bring dual benefits from both policy and market perspectives for the AI and Xinchuang sectors [10][6] - The report forecasts that from 2024 to 2028, the combined shipment of Xinchuang PCs and servers will reach nearly 30 million units, with a market size exceeding 400 billion yuan [6] - The government plans to issue 1.3 trillion yuan in ultra-long-term special bonds, increasing fiscal spending intensity to support infrastructure and local government financing [7] Summary by Sections Government Work Report Highlights - The report highlights the core topics of technological self-reliance and digital economy development, with a focus on enhancing innovation and integrating digital technologies with manufacturing and market advantages [6][8] Policy and Market Dynamics - The report indicates that the gradual implementation of related policies will alleviate local fiscal pressures and accelerate the demand for Xinchuang procurement, thereby promoting the development of the Xinchuang industry [6][7] - The "Artificial Intelligence +" initiative is expected to drive the penetration and integration of AI across various sectors, enhancing the overall productivity of the economy [8] Investment Recommendations - The report recommends specific companies for investment in the Xinchuang sector, including Haiguang Information, Longxin Zhongke, and others, while also suggesting AI-related companies such as Keda Xunfei and Hengsheng Electronics [10]