计算机行业周报：Kimi掀起长文本大战，终端智能进展不断

Investment Rating - The industry investment rating is "Increase" [36] Core Viewpoints - The Kimi intelligent assistant has initiated a new round of competition in the domestic large model market, with significant advancements in long text processing capabilities [6][13] - Major tech companies like Microsoft and AMD are actively launching AI PCs, indicating continuous progress in terminal intelligence [7][8] - The overall performance of the computer sector has outperformed major indices, with a 2.49% increase in the computer index during the past week [16][17] Summary by Sections Market Review - From March 18 to March 22, the Shanghai Composite Index fell by 0.22%, while the computer index rose by 2.49%, outperforming the Shanghai Composite by 2.71 percentage points [16][17] - The current price-to-earnings ratio (TTM) for the computer sector is 60.37, which is above the historical median of 57.66 [18] Industry News - Kimi's long text capabilities have prompted other companies to enhance their models, with Baidu and 360 announcing upgrades to support long text processing [6][13] - Lenovo is set to release its first AI PC on April 18, which is expected to integrate AI acceleration chips for enhanced productivity [7][22] - Tencent's large model has expanded to a trillion parameters, showcasing its capabilities in various applications [22] Company Dynamics - Notable earnings reports include Kingsoft Office with a net profit increase of 17.92% and Zhongke Chuangda with a net profit decrease of 39.36% [26] - Several companies are engaging in employee stock ownership plans and share buybacks, indicating a focus on aligning employee interests with company performance [28][29] Investment Suggestions - Suggested companies to watch include those in AI computing such as Industrial Fulian and Inspur Information, as well as AI applications like iFLYTEK and Kingsoft Office [9][15]