计算机行业周报（20250603-20250606）：算力“航母”或将落地，重视6月科技行情-20250608

Investment Rating - The report maintains a "Recommended" rating for the computer industry, expecting the industry index to outperform the benchmark index by more than 5% in the next 3-6 months [36]. Core Insights - The computer industry has entered a rebound phase, with significant developments in AI technology and strategic mergers, particularly the merger between Haiguang Information and Zhongke Shuguang, which is expected to create a leading player in the domestic computing power sector [7][18]. - The report highlights the acceleration of mergers and acquisitions in the industry, driven by policy support and the need for vertical integration in the "chip-server" sector [9][24]. - The report emphasizes the importance of the upcoming events in June, which are expected to catalyze the commercialization of AI technologies and boost the technology market [7][18]. Summary by Sections Industry Weekly Viewpoint - The computer index rose by 3.26% from June 3 to June 6, outperforming the ChiNext index by 0.94 percentage points, ranking 4th among 30 sectors [14]. - Key stocks that performed well include Huijin Co. (up 50.54%), Qingyun Technology-U (up 38.27%), and Zhongdian Xilong (up 32.72%) [7][14]. Market Performance Review - The report notes that the overall A-share market experienced a net outflow of 69.06 billion yuan, while the computer sector saw a minor net outflow of 15.6 million yuan during the same period [15]. Strategic Mergers and Acquisitions - The merger between Haiguang Information and Zhongke Shuguang is positioned as a significant event, potentially creating a "carrier-level" enterprise in the domestic computing power field, with a combined market value exceeding 400 billion yuan [18][19]. - The report outlines the supportive policies for mergers and acquisitions, including the "New National Nine Articles" and "Science and Technology Innovation Board Eight Articles," which encourage industry consolidation [9][24]. Investment Recommendations and Related Stocks - The report suggests focusing on key players in various segments, including: - Chips: Haiguang Information, Cambrian, Longxin Zhongke, and Jingjia Micro [26]. - Servers: China Great Wall, Zhongke Shuguang, Unisplendour, Inspur Information, and Digital China [26]. - Operating Systems: China Software, Chengmai Technology, and Kirin Software [26]. - Databases: Dameng Data, Haimass Data, and Tai Chi Software [26].