5月15日，第一财经获悉，在5月19日nova 14系列及鸿蒙电脑新品发布会上，华为将推出鸿蒙折叠电 脑。 ...

鸿蒙电脑 观察者网 对于华为的未来，任正非也保持着危机意识。他表示："到今天，也还不能说我们就能活下来。中国99%的公司是可以与美国合作的，它们没有受到制裁， 它们的芯片算力比我们的高，它们能买到的东西比我们的好。在这样的条件下，未来几年我们能不能为生存活下去？不要看我们今天和大家欢聚一堂，以为 我们有伟大的梦想，不是，我们还在挣扎中。" 为了挖掘鸿蒙背后的诸多故事，我的访谈记录本已经有一寸(约3.3厘米)之厚，访谈名单也大大超出了原计划的50人左右，逐渐突破100人。这些访谈对象涵 盖了开发者、合作伙伴、用户、专家以及行业内的众多参与者。而记录本最前面的是徐直军的三幅手画图，一页一图，清晰地诠释了鸿蒙的战略方向。"三 分天下有其一"是第一幅图的标题。这几幅图是2021年10月16日晚上，他在深圳万象城的星巴克画下来的。那时候，虽然单框架鸿蒙还没有正式立项，但是 徐直军的心中已经有了清晰的战略规划和目标。中国市场仅仅是鸿蒙的起点；面向全球，与谷歌安卓和苹果iOS一决高下，才是鸿蒙的目标。华为一直在谋 划NEXT的next。 虽然，"生态"一词在中国早已经用滥，但是真正的产业级生态在中国还是空白。没有操作系统和 ...

Core Insights - The establishment of the Guangdong Open Harmony Intelligent IoT Innovation Center marks a new phase in the development of the open-source Harmony ecosystem in China [1] - The center will focus on the OpenHarmony operating system, emphasizing core technologies such as real-time computing and AI, and aims to develop the M-Robots OS, a distributed heterogeneous multi-machine collaborative robot operating system [1][2] - M-Robots OS is the first operating system based on open-source Harmony, which aims to enhance collaboration among various types of robots and facilitate intelligent interaction with humans and the environment [2] Group 1 - The Guangdong Open Harmony Intelligent IoT Innovation Center is the first provincial-level open-source Harmony manufacturing innovation center in China, led by Shenzhen Kaihong Digital Industry Development Co., Ltd. and Shenzhen Zhongsoft International Technology Service Co., Ltd. [1] - M-Robots OS was officially released in April this year and represents a new stage in China's robot operating systems, focusing on multi-machine collaboration and collective intelligence [1][2] - The system has been validated in industrial robotic arms and collaborative robots, with plans for commercial testing on industrial production lines by 2025 in collaboration with partners in Guangdong [2] Group 2 - The center will adopt an "open-source community" model to iteratively advance the system, with a 2.0 version expected by the end of 2025 and a complete development ecosystem within three years [2] - The establishment of the center is expected to accelerate the gathering of upstream and downstream enterprises in the open-source Harmony ecosystem, creating an innovative hub and industrial cluster for open-source Harmony application software [3]

Group 1 - The "Guangdong Open Source Harmony Smart IoT Innovation Center" has been officially unveiled, marking the first provincial-level open-source Harmony manufacturing innovation center in China [1] - The center is led by Shenzhen Kaihong Digital Industry Development Co., Ltd. and ChinaSoft International Information Technology Co., Ltd., focusing on core technologies such as real-time computing and AI [1] - The center aims to develop a highly secure, widely compatible, and real-time distributed heterogeneous multi-machine collaborative robot operating system called M-Robots OS [1] Group 2 - Harmony OS has achieved a breakthrough in domestic operating systems, expected to surpass Apple's operating system in the Chinese market by Q1 2024, becoming the second-largest operating system for mobile phones in China [1] - The development of the Harmony ecosystem has shown significant results, with rapid growth in the development and adaptation of Harmony ecosystem applications [1] - Qianhai has become a hub for the development of the Harmony ecosystem, with the first Harmony Ecosystem Conference scheduled for November 2024 [2]

Core Viewpoint - The establishment of the Guangdong Open Harmony Intelligent IoT Innovation Center marks a significant step in advancing the Open Harmony ecosystem and addressing challenges in the robotics industry through the introduction of the M-Robots OS, a distributed heterogeneous multi-machine collaborative robot operating system [1][2]. Group 1: Innovation Center Establishment - The Guangdong Open Harmony Intelligent IoT Innovation Center is the first provincial-level Open Harmony manufacturing innovation center in China, officially unveiled on May 13 [1]. - The center is led by Shenzhen Kaihong Digital Industry Development Co., Ltd. and Shenzhen Zhongsoft International Technology Service Co., Ltd. [1]. Group 2: M-Robots OS Development - M-Robots OS is the first distributed heterogeneous multi-machine collaborative robot operating system based on Open Harmony, officially released in April [1][2]. - The system aims to unify standards for efficient collaboration among various types of robots and enhance intelligent interaction between robots and their environments [2]. - Industrial applications of M-Robots OS are expected to undergo commercial testing by 2025 in collaboration with partners in Guangdong [2]. Group 3: Ecosystem Expansion - The Open Harmony ecosystem has over 70 community co-construction units and has launched various products, with over 1 billion devices equipped, facilitating advancements in multiple sectors including energy, finance, and healthcare [2]. - The establishment of the innovation center in Shenzhen is expected to attract more enterprises within the Open Harmony ecosystem, further developing the application software ecosystem [3].

Core Viewpoint - The Shanghai Stock Exchange's main board shows strong resilience and stability in 2024, supported by a series of incremental policies, with significant growth in net profits and operational cash flow recovery [1][2]. Financial Performance - In 2024, the main board companies achieved a total operating income of 49.57 trillion yuan, maintaining stability year-on-year; net profit reached 4.35 trillion yuan, with a year-on-year growth of 1.9% [1]. - The annual performance trend was characterized by a decline in net profit of 1% in the first half, followed by a significant recovery with a 5% increase in the second half [2]. - Operating cash flow improved significantly, with a year-on-year growth of 15% in the fourth quarter, restoring to the previous year's level [2]. Industry Transition - Over the past decade, the leading industries on the main board have shifted from traditional sectors like finance and energy to emerging sectors such as automotive and biomedicine, with market capitalization in these sectors reaching 2 trillion yuan and 1.5 trillion yuan respectively [3]. - The proportion of emerging industry companies among the top 50 by market capitalization has increased to 50%, indicating a significant rise in both quantity and market share [3]. Emerging Industries Growth - The number of companies in emerging industries has risen to 40% over the past decade, with net profit compound growth reaching 11%, outperforming traditional industries by 5 percentage points [4]. - Emerging industries are driving the transformation of the economy towards high-quality development, fostering innovation and enhancing the value chain [4]. Corporate Governance and Efficiency - As of 2024, 946 companies on the main board have disclosed "quality improvement and efficiency enhancement" action plans, with nearly 60% of these companies achieving profitability [5]. - The overall dividend scale reached a new high in 2024, with 1,259 companies declaring cash dividends totaling 1.77 trillion yuan, a year-on-year increase of 6% [6]. Market Dynamics - The number of companies implementing share buybacks and major shareholder increases has doubled, with buyback plans disclosed by 400 companies and shareholder increase plans by 380 companies [7]. - The total amount for buybacks and increases reached 843 billion yuan and 537 billion yuan respectively, indicating strong market confidence [7]. Mergers and Acquisitions - In 2024, over 1,500 new merger transactions were recorded on the main board, with a total transaction value exceeding 1.4 trillion yuan, reflecting increased market activity [9]. - The core logic of mergers and acquisitions remains focused on industrial integration and enhancing competitive advantages, with traditional industries restructuring assets and emerging industries expanding their technological capabilities [10]. Capital Market Efficiency - Mergers and acquisitions are seen as key tools for optimizing resource allocation in the capital market, enhancing efficiency and vitality [11]. - Successful restructuring cases can boost investor confidence and attract long-term capital, contributing to the overall improvement of the capital market [11].

新大陆 20250512 摘要 • 新大陆与中科软国际合作，推动开源鸿蒙在金融场景的适配，包括 POS 机 具等金融终端产品；与电科院北京分公司合作，推动开源鸿蒙在煤炭行业 的应用，实现设备和软件一体化应用。 • 新大陆自动识别完成自研解码芯片与开源鸿蒙系统的适配，实现国产化替 代；工业级读码器产品通过开源鸿蒙兼容性测试，实现从芯片、模组到设 备端的全面适配；与华为签署开源鸿蒙生态使能合作协议，开发自主可控 的工业领域解决方案。 • 新大陆在网证网号领域与公安部一所合作开发解密卡芯片及解密算法，是 目前唯一一家拥有公安部一所解密授权的加密芯片供应商，为其网络认证 号码业务提供坚实基础。 • 《国家网络身份认证公共服务管理办法（征求意见稿）》推动网证网号发 展，传统身份证识别设备替换为网证网号适配设备市场规模约 400 亿至 800 亿元，软件端市场规模达千亿元以上，新大陆作为核心受益公司，有 望占据 20%-30%的市场份额。 • 新大陆与公安部一所独家合作，为其提供二维码解决方案，已在景区、酒 店、机场等场景实现商业模式落地，但大规模推广仍需政策推动。 Q&A 新大陆公司在鸿蒙操作系统方面的布局和进展如何？ ...

[Table_IndNameRptType] 全球科技 行业周报 Google 发布 Gemini 2.5 Pro AI 模型，关注鸿蒙产业机会 [Table_IndRank] 行业评级：增持 报告日期： 2025-05-12 行业指数与沪深 300 走势比较 分析师：金荣 分析师：来祚豪 执业证书号：S0010524100001 邮箱：laizh@hazq.com 分析师：刘京松 执业证书号：S0010524090001 邮箱 ：liujs@hazq.com 相关报告 ·行业点评：海内外 AI 发展势头强 劲，关注港股互联网反弹机会 2024-05 -07 ·公司点评：特斯拉 25Q1 点评：利润 低于预期，新车将于上半年推出 2025- 04-30 执业证书号：S0010521080002 邮箱：jinrong@hazq.com ·公司点评：谷歌 25Q1 点评：利润超 预期，全年 CapEx 维持 750 亿美元 202 5-04-30 ·公司点评：台积电 25Q1 点评：AI 需 求驱动业绩增长，25Q2 指引超预期 Opt imus2025-04-28 主要观点： [⚫Table_Summary] ...

Group 1 - The market experienced a broad rally, with the military industry and telecommunications leading the gains. The ChiNext Index performed the best, while the Sci-Tech 50 Index lagged behind [3][12]. - The overall market valuation increased, with the broad-based indices showing a general rise. The ChiNext Index is currently at a low valuation compared to its historical levels [15][27]. - The defense and military, electric equipment, and telecommunications sectors saw the highest increases, while real estate, electronics, and retail sectors performed the weakest [12][36]. Group 2 - The relative PE of the ChiNext Index to the CSI 300 has risen, indicating a shift in valuation dynamics favoring the ChiNext [17]. - The overall ERP for the A-share market has slightly decreased but remains within one standard deviation, suggesting continued investment value in A-shares [18]. - Valuations across major industries are diverging, with non-bank financials, coal, non-ferrous metals, telecommunications, electronics, and agriculture at near one-year lows [29][39]. Group 3 - The current valuation of the food and beverage, agriculture, and public utilities sectors is considered relatively cheap based on PE and PB deviation metrics [39][44]. - The current PEG values indicate that dividend and financial sectors have the lowest valuations, suggesting high allocation value [21]. - The popular concepts such as cultivated diamonds, Huawei Harmony, and robotics are currently at high historical valuation percentiles [46].

Investment Rating - The report maintains a "Recommended" investment rating for the computer industry [5]. Core Insights - The computer industry has shown signs of recovery, with the Shenwan Computer Index rising by 4.44% from April 28 to May 9, 2025, outperforming major indices such as the Shanghai Composite Index (up 1.42%) and the Shenzhen Component Index (up 2.12%) [3][10][19]. - Huawei's launch of the "Hongmeng Computer" marks a significant step for domestic operating systems in the PC sector, with over 300 applications already adapted and expectations for over 2000 by the end of the year [3][19]. - The Hongmeng Computer supports over 1000 external devices, indicating a broad compatibility and potential market penetration, with a significant replacement opportunity in the Chinese PC market, which is projected to have a total shipment of 39.7 million units in 2024 [3][19]. Summary by Sections 1. Index Performance - The Shenwan Computer Index has increased by 4.44% from April 28 to May 9, 2025, indicating a recovery from previous lows [10][19]. - Sub-sectors such as Computer Equipment, Software Development, and IT Services have also shown positive trends, with respective increases of 3.60%, 3.43%, and 6.30% [12]. 2. Major Events - The report highlights the launch of the Hongmeng Computer by Huawei, which is expected to benefit the entire Hongmeng ecosystem and related companies [3][19]. 3. Performance Summary - Financial results from key companies show mixed performance, with Huada Jiutian reporting a revenue of 1.222 billion yuan (up 20.98%) but a net profit decline of 45.46% [2]. - Bosi Software's revenue reached 2.142 billion yuan (up 4.79%), while net profit decreased by 7.44% [2]. - China Software reported a revenue of 5.198 billion yuan (down 22.69%) and a net loss of 413 million yuan [2]. 4. Investment Perspective - The report suggests that the computer sector has adjusted sufficiently after previous tariff impacts and is now on an upward trajectory, particularly with the introduction of the Hongmeng Computer [3][19]. - Investors are encouraged to focus on companies within the Hongmeng ecosystem that demonstrate strong operational performance [3][19].