Investment Rating - The report maintains a "Recommended" investment rating for the computer industry [5]. Core Viewpoints - The computer industry has shown signs of recovery, with the Shenwan computer index rising by 4.44% from April 28 to May 9, 2025, indicating a move out of the bottom region [3][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, including more than 800 standard peripherals, indicating a broad compatibility and potential market impact [3][19]. - The total PC market shipment in mainland China for 2024 is projected to be 39.7 million units, suggesting a substantial replacement opportunity for Hongmeng Computers [3][19]. - The recent performance of the Hongmeng concept stocks has been positive, and there is a recommendation to closely monitor companies with strong operational performance within the Hongmeng supply chain [3][19]. Summary by Sections 1. Index Performance - The Shenwan computer index increased by 4.44% from April 28 to May 9, 2025, outperforming the Shanghai Composite Index, which rose by 1.42%, and the Shenzhen Component Index, which rose by 2.12% [10][19]. - Sub-sectors such as computer equipment, software development, and IT services also showed positive trends with respective increases of 3.60%, 3.43%, and 6.30% [12]. 2. Major Events - Huawei held a communication meeting on May 8, 2025, to introduce the Hongmeng Computer, emphasizing its significance in the PC market [3][19]. 3. Performance Summary - Huada Jiutian reported a revenue of 1.222 billion yuan for 2024, a year-on-year increase of 20.98%, but a net profit decline of 45.46% [2]. - Bosi Software's revenue for 2024 was 2.142 billion yuan, with a net profit decrease of 7.44% [2]. - China Software reported a revenue of 5.198 billion yuan, down 22.69%, with a net loss of 413 million yuan [2]. 4. Investment Viewpoints - The computer sector has adjusted sufficiently after previous tariff impacts, and recent trends indicate a recovery [3][19]. - The introduction of the Hongmeng Computer is expected to benefit the Huawei supply chain significantly, with a recommendation to focus on companies with strong performance in this area [3][19].

Group 1 - The "HDD·Shanghai Harmony Ecosystem Partner Forum" successfully gathered leading companies from various sectors including government services, fintech, and smart terminals, showcasing nearly a hundred apps that have deeply integrated Harmony's innovative features [1] - Huizheng Finance, a leading company in the securities advisory industry, presented its core product, Jindouyun Smart Investment APP, at the forum, emphasizing its integration of Harmony features to enhance product security and intelligence [1][3] - Huizheng Finance proactively initiated its Harmony application development last year, becoming one of the first companies in the securities advisory field to embrace the Harmony ecosystem [3] Group 2 - The Harmony system, developed by Huawei for the era of interconnected devices, provides a new technical platform for developers and a smoother, smarter experience for users, as highlighted by Huizheng Finance's R&D representative [3] - Huizheng Finance's investment research philosophy, termed the "Human-Machine Data Golden Triangle," leverages big data and intelligence to enhance financial data mining and investment analysis decision-making [3][5] - The Jindouyun Smart Investment product utilizes AI algorithms to reconstruct investment decision logic, offering a one-stop service for investors that includes information acquisition, investment education, and strategy generation [5] Group 3 - The launch of "Harmony Computer" marks a significant breakthrough for domestic operating systems in the personal computer sector, with government departments actively promoting more apps to be listed on the Harmony application market [5] - Huizheng Finance aims to seize opportunities to strengthen technological empowerment, accelerating the transition to a "Harmony New World" and providing smarter, more reliable digital investment advisory solutions [5]

行业研究丨点评报告丨软件与服务 [Table_Title] 鸿蒙 PC 正式亮相，或成国产 PC 新选项 报告要点 [Table_Summary] 5 月 8 日，华为举行鸿蒙电脑技术与生态沟通会，首款鸿蒙电脑正式亮相。在沟通会中，华为 展现了关于鸿蒙电脑的 UI 设计、办公特点、系统生态、设备互联、安全架构、AI 能力等一系 列情况。此次鸿蒙 PC 的正式亮相，或将代表着鸿蒙正式进入电脑市场，在国产化替代加速的 背景下，实现完全自研的鸿蒙操作系统，有望凭借其加速建设的鸿蒙生态，逐步提升其市场份 额，从而惠及相关产业链。建议关注 1）华为鸿蒙 PC 产业链，2）开源鸿蒙操作系统开发厂商。 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 丨证券研究报告丨 1 软件与服务 cjzqdt11111 [Table_Title2] 鸿蒙 PC 正式亮相，或成国产 PC 新选项 [Table_Summary2] 事件描述 5 月 8 日，华为举行鸿蒙电脑技术与生态沟 ...

点评报告 软通动力(301236.SZ) 庞倩倩 计算机行业首席分析师 执业编号：S1500522110006 邮 箱： pangqianqian@cindasc.com 证券研究报告 公司研究 盈利预测：公司积极开拓新技术、新赛道、新客户，在享受企业数字化 请阅读最后一页免责声明及信息披露 http://www.cindasc.com 1 快速整合同方计算业务，围绕国产化算力底座打造软硬协同。2024 年 1 月，软通动力完成同方计算机有限公司（简称：同方计算机）的并购整 合，并于 2024 年 11 月将同方计算机正式更名为"软通计算机有限公 司"。目前公司在已有的清华同方和机械革命品牌基础上，推出北京信 创整机品牌——软通华方，并在软硬件协同、产品出货规模、市场占有 率等方面表现出色。 硬件销售领域：根据 Canalys 机构报告，2024 年第四季度公司 PC（含 台式机与笔记本）出货量同比增长 126%，市场份额稳居国内第二。2024 全年同比增长 106%，市场份额较上年翻倍，达 9%，位列第三。PC 终端 业务在党政教育行业稳居第一。公司推出信创 AIPC、开源鸿蒙 AIPC/智 能交互平板、机 ...

【公告全知道】军工信息化+机器人+鸿蒙+AI芯片+跨境支付 +华为海思! 公司推出全新开源鸿蒙版智能手持终端 公告全知道 2025.05.11 22:00 星期日 优博讯:未来计划拓展智慧医疗、智能制造等新兴行业领域 优博讯(300531.SZ)在2024年度及2025年第一季度业绩说明会上表示，公司未来市场扩展计划包括海外市场上，继续推进全球化 战略，在新产品研发、海外销售团队扩充等方面增加投入，开拓拉美、中东、非洲等新区域市场；国内市场上，巩固物流电商、 新零售领域优势,拓展智慧医疗、智能制造等新兴行业领域,完善市场、销售和售后服务体系,加强信创市场开拓和电商销售渠 道建设。 点评：资料显示,优博讯是移动智能行业应用解决方案开发的先驱和市场领先者。公司主营业务是研发、生产、销售智能数据终 端（PDA）、智能支付终端（智能POS）、专用打印机、智能自动化装备等loT智能终端产品并提供相关的软件及云服务平台。 主要产品有手持式PDA、穿戴式PDA、RFID识读终端、工业智能平板等。 优博讯2023年2月8日在互动平台表示,公司的智能数据采集终端及专用打印机产品已应用于军事物流及军用资产管理等场景。 除此之外, ...

Group 1 - The China Securities Big Data Industry Index has seen a strong increase of 1.09% as of May 12, with notable gains in constituent stocks such as Aerospace Hongtu (up 5.33%), Zhongke Xingtong (up 3.49%), and Shiji Information (up 3.40%) [1] - The Data ETF (516000) rose by 0.96%, with the latest price reported at 0.94 yuan. Over the past week, the Data ETF has accumulated a rise of 0.76%, leading its peers [1] - The trading volume for the Data ETF reached 5.0882 million yuan, with a turnover rate of 1.21%. The average daily trading volume over the past week was 23.8212 million yuan [1] Group 2 - Tianfeng Securities' research report anticipates that the core logic for Q2 and the second half of the year will revolve around "Alibaba Chain Ecosystem + Domestic Substitution + AI Application Expansion" [1] - The Alibaba Chain ecosystem is expected to leverage its strong foundation in traffic entry, model capabilities, cloud, and self-owned hardware, along with Tongyi Qianwen's layout in vertical ecosystems in finance and government sectors, potentially becoming the "chain master" for B-end agents in China [1] - The domestic computing power and Xinchuang sector are expected to benefit from policy support for self-control and technological iteration, with a sustained upward trend in prosperity anticipated [1] Group 3 - The Data ETF (516000) and its linked funds closely track the China Securities Big Data Industry Index, focusing on popular concept sectors such as DeepSeek, AI computing power, and the Hongmeng industrial chain, covering well-known stocks like iFlytek, Zhongke Shuguang, Inspur Information, and Hengsheng Electronics [2]

关注【鸿蒙】与【卫星互联网】相关机会 | 中信证券计算机 根据沟通会，目前鸿蒙PC融合生态应用适配300+个，专属电脑应用适配了150+个，计划到2025年底支持2000个应 用。 根据沟通会，目前鸿蒙PC融合生态应用适配300+个，专属电脑应用适配了150+个，计划到2025年底支持2000个应 用。 鸿蒙PC生态正经历手机端鸿蒙OS过往从零到一的过程，相关软硬件生态伙伴有望受益。 建议关注： 润和软件、万兴科技、中望软件、金山办公、东方中科、亚信安全、常山北明等。 4月30日，7部门联合发布《》。 鸿蒙PC生态正经历手机端鸿蒙OS过往从零到一的过程，相关软硬件生态伙伴有望受益。 < 关注【鸿蒙】与【卫星互联网】相关机会 | 中信证券计算机 5月8日鸿蒙电脑技术与生态沟通会上，华为官宣鸿蒙PC将在5月19日发布，补齐鸿蒙生态的最后一块拼图。 5月8日鸿蒙电脑技术与生态沟通会上，华为官宣鸿蒙PC将在5月19日发布，补齐鸿蒙生态的最后一块拼图。 未来手机具备卫星通信及移动通信模块，按需接入移动通信或卫星通信，推动卫星互联网应用普及。 低轨卫星频轨资源有限，各国卫星"军备竞赛"升级，中国25年低轨卫星生产与发射数 ...

• 鸿蒙生态体系由 OpenHarmony 开源项目、华为 HarmonyOS 发行版和 中国软件国际鸿蒙 OS 发行版组成，三者互联互通，但应用场景有所侧重， 华为侧重消费和汽车领域，中软国际则侧重 ToB 市场，尤其关注安全性和 实时性。 • 鸿蒙操作系统在安全性方面领先，是首个通过公安部安全检测认证的操作 系统，内核通过 EAL5 级别形式化验证，高于主流操作系统的 EAL4 级别， 并具备分布式安全防御技术和域内安全传输技术。 • 鸿蒙操作系统是 AI 原生操作系统，通过软总线连接多个硬件设备形成超级 AI 代理，管理的物理设备可抽象成 AI 代理并与大模型调用，在 AI 技术应 用方面具有领先优势。 • 华为计划在 2025 年发布鸿蒙 5.0 操作系统，扩展应用生态至办公和企业 管理软件，如钉钉、飞信和腾讯会议等已鸿蒙化，并推出元服务，实现服 务找人，提升用户体验。 • 中昂国际与华为在鸿蒙生态展开合作，聚焦文旅行业，将景区小程序升级 为鸿蒙云服务，提供一站式出行体验，已上架近 7,000 款元服务，并计划 扩展至其他生活服务领域。 中国软件 20250511 摘要 Q&A 中国软件国际在鸿蒙生态 ...

鸿蒙PC即将发布，公司是稀缺的鸿蒙软硬一体化 厂商，AI应用、人形机器人等业务都有布局—— 0511评级日报 2025/05/11 18:26 鸿蒙迎密集催化，鸿蒙PC或即将发布，华为开发者大会HDC2025将于6月举办。公司是国内稀缺 的鸿蒙软硬一体化布局厂商。 【本文来自持牌证券机构，不代表平台观点，请独立判断和决策】 公司PC终端业务在党政教育行业稳居第一，鸿蒙PC或即将发布，预期公司将深度受益于鸿蒙 生态建设加速。 1、2024年，分产品来看，软件与数字技术服务业务实现营收181亿元，同比+3%；计 算产品与智能电子业务实现营收129亿元。24Q4的PC出货量同比+126%，市场份额居 国内第二；PC终端业务在党政教育行业稳居第一。 59.65 杰克股份 603337.SS 37.15 2、AI方面，公司在模型应用上与华为盘古大模型、阿里通义千问、微软、百度文心一 言、字节火山引擎等伙伴达成战略合作；在算力基础设施领域，携手华为昇腾等伙伴， 构建软硬一体AI生态服务能力。目前，公司推出的保险、零售、医疗营销等大模型已实 现客户落地。具身智能方面，公司于2024年成立软通天擎机器人科技有限公司并落户 无 ...

| 市场指数 | | | | --- | --- | --- | | 指数名称 | 收盘价 | 涨跌% | | 上证综指 | 3342.00 | (0.30) | | 深证成指 | 10126.83 | (0.69) | | 沪深 300 | 3846.16 | (0.17) | | 中小 100 | 6294.71 | (0.62) | | 创业板指 | 2011.77 | (0.87) | 证券研究报告——晨会聚焦 2025 年 5 月 12 日 | 5 月金股组合 | | | --- | --- | | 股票代码 | 股票名称 | | 002352.SZ | 顺丰控股 | | 1519.HK | 极兔速递-W | | 603181.SH | 皇马科技 | | 300014.SZ | 亿纬锂能 | | 688198.SH | 佰仁医疗 | | 000524.SZ | 岭南控股 | | 600519.SH | 贵州茅台 | | 9660.HK | 地平线机器人-W | | 688519.SH | 南亚新材 | | 301236.SZ | 软通动力 | 中银晨会聚焦-20250512 ■重点关注 【医药生物】 ...