Core Insights - The article highlights the commercial value of Huawei's HarmonyOS ecosystem, emphasizing the importance of developer engagement and innovative service delivery methods [1][2]. Group 1: HarmonyOS Ecosystem Components - The HarmonyOS ecosystem is driven by three main engines: Harmony Smart Agent, Meta Services, and the App Gallery, which collectively enhance developer success [2][5]. - Harmony Smart Agent aims to make applications "intelligent" by providing personalized and proactive user experiences, thereby increasing user engagement and activating existing value [2][5]. - Meta Services focus on reducing customer acquisition costs and enhancing service distribution, allowing for a more tailored service experience that meets diverse user needs [2][3]. Group 2: App Gallery and User Engagement - The App Gallery serves as a curated platform that connects applications with users' real-life needs, moving beyond traditional app stores to provide a more personalized experience [4][5]. - The introduction of a curation system by professional editors has significantly improved user engagement, with homepage click-through rates increasing by 294% and download conversion rates rising by 56% [5]. - The App Gallery also supports small developers and public welfare applications, ensuring a diverse and healthy ecosystem [5]. Group 3: Developer and User Growth - As of now, the number of HarmonyOS developers has surpassed 8 million, with over 40 Huawei devices running HarmonyOS and more than 30,000 native applications and meta services in development [6]. - The ecosystem is addressing the "chicken and egg" problem of user base and application experience, with collaborative efforts from developers, partners, and consumers [6]. - The future of the HarmonyOS ecosystem is envisioned as a thriving "Harmony Garden," encouraging developers to actively participate and seize opportunities within the ecosystem [6].

Core Insights - Huawei announced significant progress in the HarmonyOS ecosystem, with over 1 billion devices running the operating system and more than 8 million registered developers [1] - The company anticipates that the number of native HarmonyOS applications will reach 100,000 within the next six months, indicating a critical turning point in the ecosystem's growth [1] Developer Engagement - Developers showcased their applications at the HDC 2025, highlighting the collaborative environment fostered by HarmonyOS [2] - The platform's unique features, such as distributed capabilities, allow developers to create applications that seamlessly sync across devices, enhancing user experience [1][2] - Developers like Zhou Yongqi and Li Shangru shared their success stories, emphasizing the ease of developing and deploying applications across multiple devices [2][3] Ecosystem Growth - The HarmonyOS ecosystem is breaking down barriers between devices and applications, creating a new service landscape that benefits both developers and users [3] - Developers are experiencing tangible commercial success, with some reporting significant daily active users and annual revenues exceeding 1 million [3] - The ecosystem's growth is seen as a pathway for developers to achieve financial success, with early adopters likening their involvement to being "original shareholders" of HarmonyOS [3]

Core Insights - The HDC2025 conference showcased the "Harmony Era Partner Block," highlighting the commitment of young developers to the Harmony ecosystem, emphasizing its role as a platform for innovation and exploration [1] - The Harmony ecosystem is breaking down regional digital divides, enabling developers to create applications that seamlessly adapt across multiple devices, thus fostering innovation and collaboration among developers [2][5] - Policy incentives are accelerating the growth of the Harmony ecosystem, with over 20 provinces implementing talent policies that have led to an average salary increase of 43.1% for developers [4] - The Harmony ecosystem is increasingly recognized as a solution to social needs, with applications addressing issues such as elderly care and cultural preservation, demonstrating the technology's potential to improve lives [6][8] - The ecosystem is transitioning from a niche to a broader market presence, allowing local developers to become key players in the digital economy, thus reshaping value distribution in the tech landscape [9][10] Group 1 - The "Harmony Era Partner Block" at HDC2025 highlighted young developers' dedication to the Harmony ecosystem, showcasing their innovative spirit [1] - Developers like Guo Tingjin have successfully created popular applications, benefiting from the support of Huawei's technical team, which illustrates the ecosystem's nurturing environment [1][2] - The "one development, multi-device deployment" feature of Harmony OS allows applications to function seamlessly across various platforms, enhancing user experience [2] Group 2 - Over 20 provinces have introduced talent policies for Harmony developers, resulting in significant salary increases and improved job prospects [4] - The Harmony ecosystem is facilitating the development of applications that address pressing social issues, such as medication reminders for the elderly and cultural heritage preservation [6][8] - The ecosystem's growth is characterized by a shift from being technology-driven to being a platform for inclusive innovation, empowering local developers to lead in the digital economy [9][10]

Core Viewpoint - The article highlights the rapid growth and potential of the HarmonyOS ecosystem, emphasizing the increasing number of developers and applications, as well as the strategic interest from local governments in fostering this digital economy [1][2][3]. Group 1: Developer Engagement - As of 2023, HarmonyOS developers have generated a pre-tax income of 4 million yuan from a single application, showcasing the financial viability for individual developers [1]. - The number of HarmonyOS developers has surpassed 8 million, with over 30,000 applications and services currently in development [1]. - Developers are increasingly supported by local governments, which are offering policy incentives and resources to attract high-tech talent and enterprises [2]. Group 2: Government Initiatives - Local governments, such as Dongguan, have established significant funds (30 billion yuan for AI and 300 billion yuan for semiconductor support) to attract technology companies and talent [2]. - Shanghai has become the first government entity to adapt its applications to HarmonyOS, with around 500 local applications already integrated [3][4]. - Nanjing has launched a comprehensive plan to support the HarmonyOS ecosystem, including a special fund for over 400 applications in various sectors [4]. Group 3: Ecosystem Development - Shenzhen is focusing on the practical application of HarmonyOS in smart cities and transportation, with initiatives like the Guangdong Open Source HarmonyOS Innovation Center [5]. - The HarmonyOS ecosystem is expected to attract thousands of developers and hundreds of innovative companies across key sectors such as healthcare, finance, and manufacturing [5]. - The ecosystem is still in a "blue ocean" phase, providing personal developers with more opportunities compared to other ecosystems [6][7]. Group 4: Value Proposition - The true value of the HarmonyOS ecosystem lies in its ability to provide commercial opportunities for various ideas, supported by substantial resources that are not as accessible in other ecosystems [7].

Core Insights - The HarmonyOS developers are becoming highly sought after by local governments as they expand the ecosystem [1][3] - The number of HarmonyOS developers has surpassed 8 million, with over 30,000 applications and services currently in development [1][3] - Local governments are establishing significant funds and policies to attract high-tech enterprises and talent to their regions, viewing the HarmonyOS ecosystem as a strategic entry point for digital economic growth [3][5] Government Initiatives - Dongguan has set up a 30 billion AI special fund and a 300 billion semiconductor industry support policy to attract high-tech companies [3] - Shanghai has signed a memorandum with Huawei to become the first government agency to adapt its applications to HarmonyOS, with around 500 local applications expected to be adapted by May 2025 [4][5] - Nanjing is actively supporting the HarmonyOS ecosystem with a dedicated fund and initiatives to adapt over 400 applications in various sectors [5][6] Ecosystem Development - Shenzhen is focusing on the implementation of HarmonyOS in vertical scenarios like smart cities and transportation, with the establishment of the Guangdong Open Source HarmonyOS Innovation Center [6] - The HarmonyOS ecosystem is projected to attract thousands of developers and hundreds of innovative companies across key sectors such as healthcare, transportation, finance, and manufacturing [6][7] - The active participation of developers is increasing, with more resources and training materials becoming available, enhancing the overall ecosystem [7]

Summary of Huawei HDC 2025 Conference Highlights Industry and Company Overview - The conference focused on Huawei's advancements in the ICT sector, particularly in AI, HarmonyOS, and cloud computing solutions [2][14]. Key Points and Arguments 1. **HarmonyOS 6 Launch**: HarmonyOS 6 has been integrated into over 40 Huawei devices, featuring approximately 9,000 applications and over 70 system-level innovations, achieving millisecond-level low latency for data transmission [1][3]. 2. **AI Enhancements**: The new operating system significantly improves AI capabilities, including AI-assisted composition and style painting, with the Xiao Yi AI assistant enhancing autonomous decision-making and collaborative capabilities [1][3]. 3. **Pangu Model 5.5**: The latest version of the Pangu model has created a knowledge base of 2.1 billion tokens, providing AI-assisted programming tools that have generated 8.13 million lines of code, with 2.8 million lines adopted [1][5][6]. 4. **Developer Ecosystem Growth**: The Harmony ecosystem has surpassed 8 million registered developers, with over 1.1 million tool downloads and 170 million monthly ADT service calls, indicating significant growth in developer engagement [1][6][7]. 5. **Cloud Matrix AI Solution**: Huawei introduced the Cloud Matrix AI computing training solution, integrating 384 deep computing units into the MPU to enhance overall computing power, addressing current chip manufacturing limitations [2][11]. 6. **AI Server Performance**: The newly launched AI server achieves a single-card inference throughput of 2,300 tokens per second, a fourfold increase compared to basic computing nodes, supporting large-scale AI model deployments [12][13]. 7. **Robotics Strategy**: Huawei's strategy in robotics focuses on cloud-based computing and intelligence, with the launch of the CodeRun intelligent platform, achieving over 90% precision in industrial assembly tasks [10]. 8. **Investment Opportunities**: The conference showcased technologies that exceeded market expectations, reinforcing Huawei's leading position in the ICT sector, and indicating potential investment opportunities for related companies in the industry [2][14][15]. Other Important Insights - **Addressing AI Hallucination**: Huawei has proposed innovative solutions to enhance the accuracy and reliability of the Pangu model, focusing on knowledge boundary determination and structured thinking verification [9]. - **Future Outlook for Industry Chain Companies**: Despite low current attention, Huawei's industry chain companies are expected to drive technological innovations, potentially leading to new investment opportunities in the coming months [15].

Core Viewpoint - Huawei's commercial brand, Huawei Qingyun, is leveraging the power of HarmonyOS to reshape the commercial terminal market, particularly in high-sensitivity industries like finance, where data security and privacy are paramount [1][4]. Group 1: Product Launch and Features - Huawei Qingyun has introduced its first HarmonyOS commercial laptop, the Huawei Qingyun HM940, along with the Harmony Office Commercial Solutions, addressing the increasing demand for secure and stable commercial terminal devices [1][6]. - The Huawei Qingyun HM940 is powered by HarmonyOS 5 and features a new security architecture, Star Shield, which enhances system-level security and stability [4][6]. - The data security triple protection system in HarmonyOS 5 ensures comprehensive data safety throughout the lifecycle of the device, preventing data leaks and giving users control over their data security [6]. Group 2: Market Strategy and Ecosystem Development - Huawei Qingyun is building a more secure and efficient Harmony ecosystem in the commercial sector, particularly for the financial industry, while accelerating the adoption of HarmonyOS across various industries [3][12]. - The launch of the Qingyun Galaxy Plan aims to create a prosperous ecosystem by providing various rights and benefits to pioneer customers, thereby reducing barriers to entry for government and enterprise clients [11][12]. - The collaboration with leading industry partners, such as Qi Anxin and Lianruan, is focused on developing enterprise-level security solutions that address privacy and data security challenges for a diverse range of enterprise users [7][12]. Group 3: Future Vision and Goals - Huawei aims to expand the Harmony computer ecosystem over the next 3-5 years, focusing on full-stack autonomy and cross-end integration as key differentiators [12]. - The company plans to continue collaborating with partners to develop more efficient and secure Harmony Office Commercial Solutions, catering to the IT management and operational needs of various industries [12][13]. - The dynamic cycle of innovation within the Harmony ecosystem is expected to reshape industry standards and drive digital transformation across sectors [12].

丨证券研究报告丨 行业研究丨点评报告丨软件与服务 [Table_Title] 华为开发者大会召开，鸿蒙生态持续演进 报告要点 [Table_Summary] 6 月 20 日至 22 日，华为开发者大会（HDC 2025）在广东省东莞市举行。华为常务董事、终 端 BG 董事长余承东在会上发表主题演讲时正式发布鸿蒙 6.0 开发者 Beta 版本（以下简称"鸿 蒙 6"）。随着鸿蒙 6 操作系统的发布，鸿蒙操作系统持续演进，并带动其原生应用生态加速建 设。有望吸引更多开发者及厂商加入鸿蒙生态，形成正向循环，促进鸿蒙生态加速发展。建议 重点关注鸿蒙产业链中商业发行版和基于鸿蒙系统发展自主品牌等厂商，其凭借鸿蒙系统的流 畅性、通用性、互联优势、安全性等有望提升份额，重构产业格局。 分析师及联系人 [Table_Author] 宗建树 SAC：S0490520030004 SFC：BUX668 请阅读最后评级说明和重要声明 %% %% %% %% research.95579.com 1 软件与服务 cjzqdt11111 [Table_Title2] 华为开发者大会召开，鸿蒙生态持续演进 [Table_Summar ...

Group 1 - India's Home Minister Amit Shah stated that India will not resume the Indus Water Treaty with Pakistan, redirecting water to domestic use instead [1] - The unilateral abrogation of the treaty by India is expected to escalate tensions and weaponize water resources, threatening regional stability [2] Group 2 - The Greater Bay Area Comprehensive National Science Center's initial scientific alliance was established to enhance innovation through cross-regional collaboration among universities, research institutions, and high-tech enterprises [3] Group 3 - In 2024, 14 counties in China reported urban residents' per capita disposable income exceeding 80,000 yuan, with Yiwu leading at 97,170 yuan, surpassing major first-tier cities [4] - Yiwu's economic vitality is highlighted as it continues to lead county-level economies [5] Group 4 - The 2025 World Humanoid Robot Games will take place in Beijing, featuring 22 main competition items and 5 peripheral events, focusing on performance and audience interaction [5] Group 5 - Apple faces a collective lawsuit from shareholders alleging securities fraud due to underestimating the integration timeline of advanced generative AI into Siri, impacting iPhone sales and stock prices [6] Group 6 - Huawei signed agreements with its first batch of HarmonyOS commercial partners, aiming to develop commercial solutions based on HarmonyOS 5 [7] - The Harmony ecosystem is entering a new commercial era, enabling various industries [8] Group 7 - JD.com announced a strategic partnership with the Suqian team of the Jiangsu Province City Football League, marking a significant investment in the region [12] Group 8 - Pinduoduo is reportedly testing self-built warehouses for instant delivery services in major cities, although the official response remains unconfirmed [13] Group 9 - Tesla plans to invest approximately $8 billion in the current fiscal year, following a capital expenditure of $44 billion to date [14] Group 10 - Multiple brands of power banks and battery cells have had their 3C certification suspended due to safety concerns, affecting brands like Romoss and Anker [10] - The suspension of certifications indicates potential supply chain risks [11]

Core Viewpoint - The article emphasizes the potential of the HarmonyOS ecosystem as a fertile ground for developers, encouraging innovation and addressing diverse user needs through various applications [2][3]. Group 1: Developer Experiences - Developers enter the HarmonyOS ecosystem with specific problems to solve, often inspired by personal experiences or societal needs [5][12]. - Individual developers like Wang Weijie and Zhong Xianshen create applications that address everyday challenges, utilizing the unique features of HarmonyOS [10][29]. - Government developers, such as Tong Wei and Liu Fei, focus on enhancing public services and efficiency through the capabilities of HarmonyOS [12][32]. Group 2: Application Features - Wang Weijie's application, "Shilu," leverages HarmonyOS's distributed capabilities to create a flexible travel planning tool that allows users to visualize routes on a map [8][26]. - Zhong Xianshen's "Kuaishou Bi" utilizes HarmonyOS's distributed features for real-time data synchronization while ensuring user privacy through local data storage [10][31]. - Government applications like "Yukuaiban" and "Jinggangshan Yuan Service" enhance user experience by providing timely information and improving service efficiency through HarmonyOS's advanced features [32][33]. Group 3: Community and Support - Developers benefit from a supportive community and resources provided by HarmonyOS, which help them overcome challenges during the development process [15][22]. - The collaborative environment fosters knowledge sharing, with developers like Zhong Xianshen contributing back to the community by open-sourcing components of their applications [19][40]. - User feedback plays a crucial role in refining applications, creating a positive cycle of improvement and satisfaction [36][42]. Group 4: Future Prospects - The HarmonyOS ecosystem is positioned as a forward-looking platform that connects developers' creativity with user needs, promising ongoing innovation and growth [35][43]. - Initiatives like the Harmony Star Program aim to encourage more developers to explore and innovate within the ecosystem, highlighting its commitment to fostering a diverse and inclusive environment [44][45].