《2025年政府工作报告》电子行业相关要点及解读：AI+推动端侧升级换代新需求，自主可控巩固科技硬实力

Investment Rating - The industry investment rating is "Outperform the Market" [25] Core Insights - The report emphasizes the importance of boosting domestic demand and developing new productive forces, with AI+ expected to drive upgrades in edge devices and strengthen China's technological capabilities [1][6] - The report highlights significant government initiatives, including a special bond of 300 billion yuan to support consumption upgrades and the promotion of AI-enabled consumer electronics [6][7] - The transition to a green economy is expected to accelerate the penetration of new energy vehicles, with a projected increase in market share [8] - The report identifies "embodied intelligence" as a key area for future industrial development, with government support for humanoid robotics [9] - The optimization of computing power resources is crucial for AI technology, with significant investments anticipated in the domestic AI sector [12][13] Summary by Sections Investment Recommendations - Recommended companies in the cloud-side AI sector include Cambrian, Haiguang Information, and Shengke Communication - Recommended companies in the edge-side AI sector include Hengxuan Technology, Rockchip, and Allwinner Technology - Recommended companies in the storage sector include Zhaoyi Innovation and Demingli - Recommended companies in the consumer electronics sector include GoerTek and Lens Technology - Recommended companies in the intelligent driving sector include Horizon Robotics and Weir Shares - Recommended companies in the embodied intelligence sector include Zhaowei Electromechanical and Obike Technology - Recommended companies in the autonomous controllability sector include SMIC and North Huachuang [3][18]