SUPCON Technology (SH:688777) Changjiang Securities·2026-01-19 05:58Investment Rating - The industry investment rating is "Positive" and maintained [7] Core Insights - Recent policies have been introduced to promote the integration of AI and industrial sectors, enhancing the dual empowerment of AI and manufacturing applications. AI is viewed as a crucial productivity driver, with significant potential for growth in the AI+ industrial space. The penetration rate of AI in the industrial sector is expected to continue rising [2][4] - The industrial software market is projected to expand due to equipment upgrades and domestic replacements, with growth rates likely to exceed the global average. The report suggests focusing on leading companies in niche segments that possess data and know-how advantages, particularly those represented by central control technology [2][4] Summary by Sections Policy Developments - Multiple policies have been released to facilitate AI and industrial integration, including the "AI+ Manufacturing" action plan, which aims to enhance AI applications in manufacturing. Key quantitative targets include the deep application of 3-5 general large models in manufacturing, the creation of 100 high-quality industrial data sets, and the cultivation of 2-3 globally influential enterprises [4] Market Potential - China is the largest manufacturing country, with an industrial value added expected to reach 40.5 trillion yuan by 2024, accounting for about 30% of global manufacturing value. The industrial internet core industry is projected to exceed 1.6 trillion yuan by 2025, driving an additional 2.5 trillion yuan in industrial value added. The penetration of AI in industrial applications is rapidly increasing, with the application rate of large models in industrial enterprises rising from 9.6% in 2024 to 47.5% in 2025 [2][4] Investment Recommendations - The report emphasizes the importance of focusing on leading companies in niche segments that have data and know-how advantages. The industrial software market is expected to continue expanding, driven by the dual factors of equipment updates and AI enhancements, with industry growth likely to outpace global averages [2][4]