Shanghai Securities·2025-12-03 11:25Investment Rating - The industry investment rating is "Overweight (Maintain)" [1] Core Viewpoints - The computer industry is experiencing a significant demand for computing power driven by ongoing AI transformations, with major companies like Alibaba showing strong growth in AI-related revenues [3][4] - The report highlights the performance of the computer sector, which outperformed the Shanghai Composite Index by 1.68 percentage points and the CSI 300 Index by 1.44 percentage points during the past week [2] Summary by Sections Market Review - The Shanghai Composite Index rose by 1.40%, the ChiNext Index increased by 4.54%, and the CSI 300 Index gained 1.64% during the week from November 24 to November 28, while the computer sector index rose by 3.08% [2] Weekly Insights - Alibaba's Q3 report indicated a revenue of 247.8 billion yuan, a year-on-year increase of 4.8%, with AI and cloud services showing robust growth [3] - The cloud intelligence group's revenue reached 39.82 billion yuan, up 34% year-on-year, and AI-related product revenue has seen triple-digit growth for nine consecutive quarters [3] - Alibaba's market share in China's AI cloud market reached 35.8%, surpassing the combined share of its next three competitors [3] Investment Recommendations - Suggested companies to focus on include: - Computing Power: Cambrian, Haiguang Information, Zhongke Shuguang, Huafeng Technology, Shenling Environment, Yingweike, Oulutong, and Zhongheng Electric [5] - AIDC: Kehua Data, Yunsai Zhili, Hongxin Electronics, Runjian Shares, Runze Technology, and Dataport [5] - AI Applications: Kingsoft Office, iFlytek, Foxit Software, Wankong Technology, Dingjie Zhizhi, Hand Information, Nengke Technology, and Zhuoyi Information [5]