东兴证券晨报-20250610

Key Insights - The report highlights that the U.S. non-farm employment data for May showed an increase of 139,000 jobs, slightly above the expected 130,000, while the unemployment rate remained stable at 4.2% [2][3] - The labor market is characterized by low turnover rates, hiring rates, and layoff rates, indicating a stagnant labor market [3] - The report suggests that the summer service consumption may see some support, particularly in tourism and gambling sectors, with hourly wage growth outpacing inflation at 4% year-on-year [3] Industry Overview - The computer industry is experiencing a revaluation driven by AI Agent technologies, with the sector outperforming the broader market in the first half of 2025 [9][10] - The AI Agent segment is expected to see continued growth due to favorable policies, technological advancements, and increasing demand, with a projected market size growth from 147.3 billion yuan in 2024 to 3.3 trillion yuan by 2028 [11][12] - The report identifies key players in the AI Agent space, including both platform-based and vertical application companies, highlighting their potential to enhance productivity across various sectors such as finance, education, and healthcare [12][14] Investment Strategy - The report emphasizes the potential of AI Agent technologies to reshape the computer industry, suggesting that companies involved in this space will likely benefit from the ongoing developments [11][13] - The magnesium industry is expected to enter a state of sustained tight balance, with global demand projected to grow significantly due to applications in lightweight automotive and other sectors [27][28] - The lithium industry is also forecasted to improve its supply-demand relationship, with global lithium supply expected to increase from 123.1 thousand tons LCE in 2024 to 186 thousand tons LCE by 2027, driven by the growth in electric vehicle and energy storage markets [28][29]