SINOLINK SECURITIES·2025-05-05 03:23Investment Rating - The report suggests a focus on leading domestic generative large model companies such as iFlytek, and AI hardware companies like Yingshi Network and Hongsoft Technology, as well as software companies like Kingsoft Office and Wanjing Technology for potential investment opportunities [2] Core Insights - The AI industry chain is expected to maintain high prosperity, with computing power sustaining high levels and application accelerating upward [11][10] - The release of Alibaba's Qwen3 series models, which includes various models with significantly reduced deployment costs, positions it as a leading player in the open-source model space [11] - The impact of Trump's tariff policy on the computer industry is expected to be minimal, with domestic demand likely to benefit from supportive policies [11] - The report highlights the increasing urgency for domestic substitution and self-control in the context of sanctions, focusing on sectors like Xinchuang, Huawei's supply chain, industrial software, and military information technology [11] Summary by Sections Industry Perspective - The report emphasizes the high and stable prosperity of the AI industry chain, intelligent driving, software outsourcing, and the Huawei supply chain, while noting the upward trend in sectors like Xinchuang and military IT [11][10] Market Performance - From April 28 to May 3, 2025, the computer industry index rose by 2.47%, outperforming the CSI 300 index by 2.90 percentage points, ranking second among 31 industry indices [16] Key Events Outlook - Upcoming events include the VR/AR Expo in Shanghai and the Google I/O Developer Conference, which are expected to present opportunities in related industry chains [29][30]