布局高景气科技方向，不妨关注5G通信ETF（515050），是全市场规模最大的5G通信主题ETF，深度聚 焦5G、算力产业链龙头标的，覆盖了多个AI算力、6G、消费电子、半导体、PCB、通信设备、服务 器、光模块、物联网等细分行业的龙头个股。 5月6日，A股市场情绪进一步修复，TMT等科技板块领涨，华为鸿蒙、操作系统、ChatGPT、光通信、 光模块CPO等概念表现活跃。截至13点27分，聚焦AI算力+消费电子终端硬件的5G通信ETF（515050） 涨2.72%，持仓股广和通涨超12%，沪电股份、普天科技、源杰科技等纷纷跟涨。 财通证券统计发现，一季报TMT多细分景气明显回暖。1）TMT中部分细分方向业绩已出现底部反弹迹 象，如军工电子、数字媒体等。此外IT服务、软件开发等下游景气回暖趋势明显。2）拆分量价来看， 1Q2025科技制造方向（半导体、电池、军工、机械设备）多个细分量价齐升。3）资本开支来看，TMT 关注两类行业：①需求与资本开支增速仍在持续提升的行业，如电子中的元件、通信中的通信设备；② 需求仍在改善，但开支减少的行业，盈利有望提升，如电子中的半导体，计算机中的计算机设备、IT服 务等。 （文 ...

国内市场综述 震荡整理 走势分化 周三（4 月 30 日）大盘震荡整理，走势分化。截至收 盘，上证综指收于 3279.03 点，下跌 0.23%；深成指 收于 9899.82 点，上涨 0.51%；科创 50 上涨 0.85%； 创业板指上涨 0.83%，万得全 A 成交额共 11931 亿元， 较前一日小幅增加。 行业方面，30 个中信一级行业有 19 个行业收涨，其 中计算机、汽车及传媒涨幅居前，而银行、钢铁及交 通运输则跌幅较大。概念方面，ChatGPT、Kimi 及减 速器等指数表现活跃。 海外市场综述 美国三大股指全线收跌，苹果跌超 3% 周一（5 月 5 日），美国三大股指全线收跌，道指跌 0.24%，标普 500 指数跌 0.64%，纳指跌 0.74%。苹果 跌超 3%，雪佛龙跌逾 2%，领跌道指。万得美国科技七 巨头指数跌 1.03%，特斯拉跌超 2%，亚马逊跌近 2%。 中概股涨跌不一，脑再生涨超 57%，嘉楠科技跌逾 9%。 新闻精要 1. 第 28 届东盟与中日韩财长和央行行长会议举行 2. 商务部回应中美经贸对话磋商情况：美方想谈就应 拿出谈的诚意 3. 香港金融管理局近 5 年来首度 ...

Core Viewpoint - 康冠科技 reported strong financial performance for Q1 2025, with significant year-on-year growth in revenue and net profit [1] Financial Performance - The company achieved a revenue of 3.142 billion yuan, representing a 10.82% increase compared to the same period last year [1] - Net profit attributable to shareholders was 215 million yuan, up 15.81% year-on-year [1] - The net profit after deducting non-recurring items was 178 million yuan, reflecting a 31.75% increase from the previous year [1] Business Segments - Revenue from smart interactive display products grew by 10.03%, with shipment volume increasing by 16.50% [1] - Revenue from innovative display products, including three proprietary brands, surged by 50.42%, with shipment volume rising by 63.56% [1] - Smart TV revenue increased by 5.88%, and shipment volume grew by 30.98% [1] Product Matrix and AI Integration - 康冠科技 has developed a diversified product matrix empowered by AI technology, covering key scenarios such as "AI + Office," "AI + Education," "AI + Healthcare," and "AI + Entertainment" [2] - The "AI + Office" initiative enhances user experience and productivity through smart features in interactive panels [2] - The "AI + Education" initiative aids teachers in classroom management and personalized teaching assistance [2] - The "AI + Healthcare" initiative utilizes smart diagnostics to assist doctors in quickly identifying symptoms [2] - The "AI + Entertainment" initiative offers integrated beauty experiences through AI makeup simulation and voice control [2] Brand Strategy - 康冠科技's three proprietary brands—"KTC," "Horion," and "FPD"—reflect its brand strategy in the innovative display product sector [3] - The KTC brand focuses on high-quality gaming monitors and innovative display products, aiming to enhance user experience through a multi-layered user ecosystem [3] - KTC has seen stable growth in online sales and exposure in overseas markets, while also engaging in offline activities to expand market presence [3] - The brand continues to pursue technological innovation and collaboration with global partners to provide high-quality smart hardware products and services [3]