洞察 普华永道 为了在这个振奋人心的时代蓬勃发展，制定一套精妙的GenAI使用战略至关重要： GenAI将惠及哪些行业？简而言之，所有行业都会受益。但我们的分析表明，各个行业的受益程度不 同。其中，软件和奢侈品等行业将凭借GenAI迎来最大的涨幅。考虑到微薄的利润率，哪怕是受益程度 较低的行业也有望迎来可观的提升。 当然，现下可以轻易实现的生产力提升效应将随着时间的推移而逐渐消失，因为其主要来自GenAI在当 前运作方式基础上对企业效率的加持。一旦市场上每一个参与者都开始以同样方式去使用这项技术，那 么重塑进程将加速。客户的期望将不可避免地提高，从而推高门槛。 这就是为何企业希望将这一技术 整合到当前的工作中，并在此基础上开发更多变革性应用，从而借此转向新的运营模式，进入新的市 场。 1. 掌握平衡艺术 行业发展态势，极大程度上影响着企业利用GenAI创效和重塑的速度，其中有两个变量的影响力最大： GenAI对行业的颠覆程度，以及行业采用和整合GenAI技术的能力。 为了具象化，我们基于这两个维度对22个行业进行了分析，并发现可以归类为四个类别： 我们已经看到这两个维度的相互作用。以制药行业为例，GenAI技 ...

Core Viewpoint - The importance of technological self-reliance and strength is increasingly emphasized in the complex international environment, as demonstrated by the collaboration between Eden Software and Huawei Cloud to promote AI 2.0 technology and applications in China [1][16]. Financial Performance - In 2024, Eden Software achieved total revenue of 1.133 billion yuan, a year-on-year increase of 38.9%, with gross profit rising from approximately 99 million yuan to about 112 million yuan, reflecting a growth rate of 13.3%. The net profit also grew by 30.7%, driven by strong performance in IT infrastructure services and cloud and AI services [3]. AI 2.0 Strategy - Eden Software, as a pioneer in China's IT service sector, has over 20 years of industry experience and has established a professional service system across various fields, laying a solid foundation for its AI 2.0 strategic transformation [4]. Product Innovations - The launch of the Eden Easy AI Enterprise Intelligent Assistant marks a highly commercialized intelligent application platform that supports various AIGC scenarios, significantly enhancing productivity through AI integration in mainstream office software like Word, Excel, PowerPoint, and Outlook [6][7]. Market Potential - The global AI Agent market is projected to reach $5.29 billion in 2024 and grow to $21.68 billion by 2035, with a compound annual growth rate of 40.15% from 2024 to 2035, indicating significant growth opportunities for Eden Software [7]. Strategic Partnerships - Eden Software has established deep collaborations with key partners such as Huawei, Xinhua San, and Tencent Cloud, enhancing its capabilities in AI application development and cloud integration, which are crucial for building an innovative ecosystem in the AI 2.0 era [10][11][12][13]. Industry Recognition - The company has received multiple certifications and awards, including recognition as the "Best AIGC Enterprise" and "Best AI Service Platform" at the Shenzhen International Artificial Intelligence Expo, showcasing its strong industry influence and capabilities in AI [8].

Investment Rating - The report maintains an "Overweight" rating for the semiconductor industry, indicating an expectation that the industry index will outperform the market index by more than 10% over the next six months [4][46]. Core Insights - Recent trade frictions are expected to strengthen the logic of self-sufficiency in the semiconductor sector, accelerating the domestic substitution of high-end chips, RF modules, and semiconductor equipment and materials [4][38]. - The semiconductor industry index has seen a decline of 6.27% over the past two weeks, underperforming the CSI 300 index by 1.25 percentage points [6][13]. - Gartner predicts that global spending on Generative AI will reach $644 billion in 2025, a 76.4% increase from 2024, with hardware being a major driver of this growth [19]. - The report highlights investment opportunities in semiconductor equipment and materials, analog chips, RF modules, domestic computing power, and storage sectors due to ongoing trade tensions [4][38]. Industry Performance Review - The semiconductor industry index has experienced a cumulative decline of 0.93% since the beginning of 2025, while outperforming the CSI 300 index by 4.15 percentage points [6][13]. - Various sub-sectors within the semiconductor industry have shown declines, with the integrated circuit packaging and testing sector down by 11.66% over the past two weeks [14][17]. Company Announcements and Dynamics - TSMC reported a revenue of NT$285.96 billion in March, a year-on-year increase of 46.5% [21]. - Longji Technology expects a 50% year-on-year increase in net profit for the first quarter [26]. - Zhaosheng Microelectronics announced a 64.2% decline in net profit for 2024 but plans to distribute dividends [23]. Semiconductor Industry Data Updates - Global smartphone shipments reached 332 million units in Q4 2024, a year-on-year increase of 2.38% [30]. - In February 2025, domestic new energy vehicle sales reached 892,000 units, a year-on-year increase of 87.1% [32]. - Global semiconductor sales in February 2025 amounted to $54.92 billion, a year-on-year increase of 17.1% [36]. Investment Recommendations - The report suggests focusing on investment opportunities in semiconductor equipment and materials, analog chips, RF modules, and domestic computing power due to the acceleration of domestic substitution processes driven by trade tensions [38]. - Specific companies to watch include Shengbang Co., North Huachuang, and Zhongwei Company, which are expected to benefit from the current market dynamics [41][42].

2025年：全球贸易又面临重大转折，本期调研主要发现： 首席运营官(COO)对未来挑战有着清醒认0知，1并且清楚地了解阻碍增长的主要外部因素 COO普遍对今年大环境的不确定性有所存疑，但也在寻找潜在推动增长的有效方式。在本次调研中， 有94%的受访者选择新客户(推动需求加速增长)和新产品作为增长途径(见图1)。 然而，研究发现，当前对新渠道的投资热情似乎有所回落。虽然有89%的领先企业将其列为前三大重 点投资方向之一，但相比2024年的93%略有下降。值得注意的是， 区域扩张在企业战略投资布局中 的重要性也出现了下滑，在促进增长的各项领域中，被视为最低优先级 。 1. 首席运营官（COO）对未来挑战有着清醒认知，并且清楚地了解阻碍增长的主要外部因 素。 2. 企业在生成式人工智能（GenAI）领域进展显著：平均而言，有30% 的企业借助GenAI优 化了供应链管理或流程。 3. 随着供应链颠覆与中断的常态化，成本至上的理念将让位于更精细化的资本与风险管理方 法。 4. 执行与规划之间的落差问题更为突出：只有一半的企业开始启动了供应链的端到端转型。 5. 企业各层面技能严重不足，近 40%的COO将其视为当下最 ...

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Viewpoints - The report emphasizes the importance of self-reliance in technology due to escalating global trade tensions, highlighting the urgency for core technology products to be self-sufficient [5][12] - National fiscal support is expected to accelerate the implementation of key projects and policies, particularly in the realm of domestic innovation and technology [6][13] - Domestic software and hardware are transitioning from being merely "usable" to "user-friendly," with an anticipated acceleration in replacement cycles [7][14] Summary by Sections Market Review - During the week of March 31 to April 3, 2025, the CSI 300 index fell by 1.37%, while the computer index decreased by 1.87% [4][16] Investment Opportunities - The report suggests that with changes in the global trade environment, domestic software and hardware are on the rise, and the pace of replacement is expected to accelerate. Recommended companies include: - For domestic computing power: Haiguang Information, Zhongke Shuguang, and Shenzhou Digital - For the innovation and creation sector: Kingsoft Office, Dameng Database, Taiji Co., and others [8][15] Industry Dynamics - The report notes significant developments in the industry, including the upcoming release of Alibaba's new model Qwen3 and OpenAI's completion of a $40 billion financing round, which values the company at $300 billion [22][28]

Core Viewpoint - The article emphasizes the critical importance of high-quality, trustworthy data in the financial industry, especially as AI technologies reshape the landscape and increase demand for data [1][2][4]. Group 1: Data Integrity and Management - The financial industry is witnessing a surge in demand for reliable data, with an annual growth rate of approximately 40% since 2019 [1]. - Ensuring data integrity and relevance is essential for large language models (LLMs), as poor data can lead to unreliable AI outcomes, including hallucinations and biases [2][4]. - The implementation of data transparency, security, and integrity is crucial for compliance and building customer trust, exemplified by the use of "watermark" technology in financial data [5][6]. Group 2: Digital Rights Management - Digital rights management is increasingly important, with clients expecting clear definitions of data source availability, AI policy responsibilities, and effective measures against intellectual property infringement [4][6]. - The establishment of a robust framework for digital rights management is necessary to ensure compliance and responsible AI usage [9]. Group 3: Regulatory Framework and Collaboration - The article highlights the need for standardized definitions of "data trust" across the industry to enhance data quality and facilitate its circulation [6][10]. - Collaboration across the industry and the establishment of interoperable regulatory frameworks are key to fostering high-trust AI systems and promoting innovation in the global financial sector [2][10]. - Regulatory initiatives, such as the EU's AI Act and the NIST's AI Risk Management Framework, provide guidance for safe and fair AI practices in the financial services sector [7][11]. Group 4: Future Outlook - The importance of high-quality data will continue to grow as the industry develops AI tools, necessitating a deep understanding from policymakers [8][11]. - The article calls for a collective effort from financial and tech companies, regulators, and users to navigate the challenges posed by evolving AI technologies [11].