Guoyuan Securities·2025-04-28 02:05Investment Rating - The report maintains a "Recommended" investment rating for the computer industry [5] Core Viewpoints - The computer industry is experiencing a bottoming out phase with a slight increase of 0.99% in the index during the week of April 21-25, 2025. The overall market sentiment is cautious, with a focus on the performance of AI applications and their implementation [1][19] - The Chinese government is emphasizing the development and regulation of artificial intelligence, indicating a long-term growth potential for the AI sector within the computer industry [19][20] - Despite overall pressure on operating performance in 2024, companies are increasing investments in AI, leading to promising results in product development and application scenarios [20] Summary by Sections Market Review - The computer (Shenwan) index showed a slight increase of 0.99% during the week, while the Shanghai Composite Index rose by 0.56%, the Shenzhen Component Index by 1.38%, and the ChiNext Index by 1.74% [1][10] - In terms of sub-sectors, the Shenwan secondary industry indices for computer equipment, software development, and IT services showed increases of 0.27%, 0.59%, and 2.04% respectively, with software outperforming hardware [1][12] Performance Summary - Han's Information reported a revenue of 3.235 billion yuan in 2024, a year-on-year increase of 8.57%, with a net profit of 188 million yuan [2][16] - Koyuan Wisdom achieved a revenue of 1.682 billion yuan, up 19.55%, and a net profit of 252 million yuan, up 56.64% [2][16] - Ruiming Technology reported a revenue of 2.777 billion yuan, a significant increase of 63.45%, with a net profit of 290 million yuan, up 184.50% [2][16] Investment Insights - The report highlights that the computer industry is entering a peak period for disclosing 2024 performance, with a particular focus on AI developments. The government’s support for AI is expected to drive substantial growth in the sector [19][20] - Companies like Han's Information are prioritizing AI as a strategic focus, leading to successful applications in various business areas, contributing to incremental revenue growth [20] - The collaboration between Zhongke Chuangda and Huoshan Engine aims to enhance intelligent automotive solutions, showcasing the integration of AI in practical applications [20]