HIKVISION(SZ:002415) Guoyuan Securities·2025-08-04 04:41Investment Rating - The report maintains a "Recommended" investment rating for the computer industry [5]. Core Insights - The computer (Shenwan) index experienced a slight decline of 0.20% during the week of July 28 to August 1, 2025, outperforming major indices such as the Shanghai Composite Index, which fell by 0.94%, the Shenzhen Component Index by 1.58%, and the ChiNext Index by 0.74% [3][10]. - The State Council's meeting on July 31 approved the "Artificial Intelligence+" action plan, emphasizing the acceleration of AI technology and its integration into various sectors, leveraging China's complete industrial system and large market scale [3][19]. - The report highlights the importance of companies with technology, application scenarios, and successful cases in the rapidly developing global AI industry [3][19]. Summary by Sections 1. Index Performance - The computer (Shenwan) index fell by 0.20%, ranking among the top in terms of performance decline [10]. - The Shenwan secondary industry indices for computer equipment, IT services II, and software development showed respective changes of -0.98%, -0.75%, and +0.68%, with the software sector performing relatively well [12]. 2. Major Events - Significant advancements in AI technology were reported, including the anticipated release of GPT-5 and the introduction of new features by various companies, indicating a trend towards enhanced capabilities in AI applications [15]. 3. Key Announcements - Longsoft Technology reported a slowdown in intelligent investment due to industry cycles, while Hikvision achieved a revenue of 41.818 billion yuan, a year-on-year increase of 1.48%, and a net profit of 5.657 billion yuan, up 11.71% from the previous year [2][16]. - Han Yi Co. is transitioning to a cultural consumption ecosystem, focusing on IP layout and collaboration to promote traditional culture [2][18]. 4. Investment Perspective - The report expresses optimism about the AI sector, particularly for companies that demonstrate technological capabilities and successful application cases, as the industry is expected to benefit from ongoing government support and market demand [3][19].