Yong Xing Zheng Quan·2025-05-22 11:20Investment Rating - The report maintains an "Accumulate" rating for the electronics industry [6] Core Viewpoints - The computing power industry chain is becoming a fundamental infrastructure, driving industry development. NVIDIA plans to sell hundreds of thousands of AI chips in Saudi Arabia, with the first batch of 18,000 latest Blackwell chips going to the newly established AI startup Humain [1][16] - The AI edge sector is expected to benefit from new product launches, with Huawei set to unveil smart glasses on May 19. Rokid has received over 250,000 pre-orders for its AI glasses, indicating strong market demand [1][16] - The consumer electronics sector is recovering, with China's tablet market shipments in Q1 2025 reaching 8.52 million units, a year-on-year increase of 19.5%, driven by government subsidies [2][17] - The domestic substitution industry is gaining traction, with Longxin and Hejian working closely to achieve a fully domestic design platform for electronic systems [2][18] Summary by Sections Computing Power Industry - The underlying computing power is becoming a basic resource for countries, and the industry chain is expected to benefit continuously. Companies to watch include Weicai Technology, Zhongfu Circuit, and others [4][19] AI Edge Sector - New product launches are anticipated to drive growth in the AI edge industry. Companies to focus on include Guoguang Electric, Edifier, and others [4][19] Consumer Electronics - The consumer electronics industry is expected to benefit from a recovery, with recommendations for companies like Dongmu Co., and others to watch include Yutong Optical and Luxshare Precision [4][20] Domestic Substitution - The domestic substitution industry is expected to benefit from supportive policies, with recommendations for Jiangfeng Electronics and others to watch including Northern Huachuang and Micro Company [4][20]