Core Insights - Several automotive companies, including AITO, Avita, Dongfeng Peugeot, Dongfeng Nissan, GAC Trumpchi, and others, have recently launched the desktop service card feature on the HarmonyOS 5 system, allowing vehicle owners to control their cars directly from their Huawei phone's desktop without opening the car app [1][5] Group 1 - The desktop service card feature enables vehicle owners to bind their vehicles and access real-time information such as vehicle status, location, and remaining range directly from their phone's desktop [5] - Users can perform common operations like remote unlocking, engine start, air conditioning control, tailgate operation, window control, and emergency assistance with ease [5] - This innovation aims to enhance user convenience and efficiency, making it easier for drivers to manage their vehicles, especially in scenarios like locating a parked car or pre-cooling the interior on hot days [5] Group 2 - The HarmonyOS ecosystem is rapidly evolving, with more automotive companies expected to adopt the desktop service card feature, promising a new level of convenience and efficiency for HarmonyOS 5 users [5]

Core Viewpoint - SAIC Motor Corporation is expected to rebound in sales after a low point in 2024, with a target of exceeding 4.5 million vehicle sales in 2025, supported by strong performance in its self-owned and new energy vehicle segments [2][10][11]. Sales Performance - In the first seven months of 2025, SAIC Motor achieved cumulative vehicle sales of 2.39 million units, a year-on-year increase of 15% [4][10]. - The company's self-owned brand sales reached 1.518 million units, up 23.3% year-on-year, accounting for 63.5% of total sales, an increase of 4.3 percentage points from the previous year [4][5]. - New energy vehicle sales for the first seven months totaled 764,000 units, reflecting a growth of 43.5%, outpacing the overall market growth [5][10]. Monthly Sales Trends - In July 2025, SAIC sold 338,000 vehicles, marking a 34.2% increase year-on-year, achieving seven consecutive months of year-on-year sales growth [4][10]. - Self-owned brand sales in July reached 214,000 units, a 39.4% increase, with significant growth in domestic market sales [4][5]. New Energy Vehicle Growth - July 2025 saw new energy vehicle sales of 117,000 units, a 64.9% increase year-on-year, with various models contributing to this growth [5][10]. - The company’s joint venture brands also experienced a rebound, with a 26.1% year-on-year increase in sales [5]. International Market Performance - SAIC Motor has established a strong presence in over 170 countries, with cumulative overseas sales exceeding 6 million units [6]. - In Europe, the MG brand achieved nearly 180,000 deliveries in the first seven months of 2025, demonstrating double-digit growth [6]. Future Product Launches - Upcoming models, including the first vehicle from the SAIC-Huawei collaboration, the Shangjie H5, are anticipated to drive further sales growth [8][9]. - The company is investing significantly in production capabilities, with a dedicated team and substantial financial resources allocated for the Shangjie brand [9]. Financial Goals - For 2025, SAIC Motor aims for total vehicle sales exceeding 4.5 million units and revenue surpassing 674 billion yuan, with a cost target around 600 billion yuan [10][11]. - The company’s sales growth target for 2025 is set at 12.14%, with a revenue increase goal of 7.39% [11].

Group 1 - Huawei's HarmonyOS 5 terminal count has surpassed 10 million, marking a new milestone for the Harmony ecosystem [1] - Ehi Car Services has actively participated in the Harmony ecosystem by optimizing its HarmonyOS application for mobile phones and smartwatches, enhancing the rental experience [1] Group 2 - The Ehi Car Services HarmonyOS application has undergone nearly ten iterations since its launch, improving core rental processes such as login, ordering, payment, and order tracking [2] - Recent updates introduced features like "fixed price" service, a revamped member center, and enhancements to rental card order management and violation functions [2] Group 3 - Ehi Car Services has deeply adapted its services for HarmonyOS 5 smartwatches, allowing users to manage orders directly from their wrist [4] - Users can view key order information such as vehicle type, license plate number, and rental times without needing to take out their phones [4] Group 4 - The ability to control rental vehicles directly through the smartwatch enhances flexibility in rental operations [6] - Ehi Car Services' adaptation to HarmonyOS significantly optimizes the rental process and contributes to the intelligent upgrade of the rental industry [8] - Continuous updates are expected to bring more innovative features, further improving user rental and vehicle experiences [8]

Group 1 - The Central Political Bureau of the Communist Party of China decided to hold the Fourth Plenary Session of the 20th Central Committee in October to analyze the current economic situation and work [5] - The U.S. Federal Reserve maintained the federal funds rate target range at 4.25% to 4.50%, marking the fifth consecutive meeting without a rate change, reflecting a cautious approach amid economic uncertainties [6] - The Canadian central bank announced it would keep the benchmark interest rate unchanged at 2.75% [8] Group 2 - China’s Foreign Minister Wang Yi emphasized the importance of expanding high-level foreign investment and creating a favorable business environment for U.S. companies in China [9] - The National Development and Reform Commission of China is soliciting opinions on guidelines for government investment funds, aiming to control investment amounts and prevent hidden local government debt [9] Group 3 - Huawei launched its new HarmonyOS 5 tablet, the MatePad Pro 12.2 inches, enhancing its ecosystem and showcasing its integration of software and hardware [17][18] - Changan Automobile aims to achieve a production and sales target of 5 million vehicles by 2030, with over 60% being new energy vehicles [19] - Geely Auto plans to launch several hybrid models in the second half of the year, aiming for an annual sales target of 3 million vehicles [21] Group 4 - JD.com led a nearly 200 million yuan angel round investment in RoboScience, marking its fifth investment in robotics companies in three months [22] - Microsoft reported a second-quarter net profit of $27.2 billion, a 24% year-on-year increase, with revenue of $76.44 billion [23] - Qualcomm's second-quarter adjusted net profit reached $2.67 billion, a 25% increase year-on-year [24] - Meta's second-quarter net profit was $18.34 billion, a 36% increase year-on-year, with revenue of $47.52 billion [24] Group 5 - Baidu is testing an AI application entry on its search homepage, aiming to enhance user experience and increase AI application exposure [25] - Aikang Group issued a statement addressing media misinterpretation of comments made by its CEO regarding health checkups [26][27] - The stock of Giant Legend surged over 30% following a partnership with Yushu Technology, linked to the "Jay Chou concept stock" [28][29] - Starbucks confirmed it is seeking strategic partners for its China business, indicating potential changes in its market strategy [30]

Group 1 - Huawei's HarmonyOS 5 has surpassed 10 million terminal devices within a year, marking a significant milestone in the ecosystem's development [1] - The ecosystem has seen rapid growth with over 40 terminal products and more than 30,000 applications and services in development [2] - The number of developers in the HarmonyOS ecosystem has exceeded 8 million, and the total number of ecosystem devices has surpassed 1 billion [2] Group 2 - Huawei plans to push HarmonyOS 5 to a large number of older Huawei models, enhancing performance by up to 40% due to the support of the Harmony kernel and Ark Engine [3] - The company has launched several flagship devices fully equipped with HarmonyOS 5, including the HUAWEI Pura X and MatePad Pro 12.2 [2] - A public beta for HarmonyOS 5 has been rolled out for various models, with plans for further updates to cover more devices [2]

Core Insights - HarmonyOS has achieved a significant milestone with over 10 million devices running HarmonyOS 5 as of July 30, 2025, indicating a robust user base and commercial potential for the ecosystem [1][3][5] - The unique ecological strategy of HarmonyOS, which emphasizes "one development, multi-end deployment," has facilitated rapid adaptation of applications, contributing to its swift growth [5][6] Group 1 - HarmonyOS 5 marks a breakthrough as China's first fully self-developed operating system, showcasing significant progress in the operating system domain [5] - The ecosystem has seen a rapid transformation, with over 40 Huawei terminal products now equipped with HarmonyOS 5, reflecting the system's growing adoption [5] - Huawei regained the top position in the domestic smartphone market with an 18.1% share in Q2 2025, attributed to the enhanced user experience provided by HarmonyOS 5 [5] Group 2 - Analysts suggest that the HarmonyOS ecosystem is entering an ascending phase, transitioning from initial growth to a more mature state, which could lead to richer application scenarios and deeper technological exploration [6] - The integration of HarmonyOS across various devices, including computers, enhances cross-device collaboration, breaking down barriers and allowing seamless data flow [5]

Core Insights - Huawei's terminal devices running HarmonyOS 5 have officially surpassed 10 million units [1] - The development of the HarmonyOS ecosystem has been significantly supported by popular applications such as WeChat, Alipay, Douyin, Taobao, Amap, WPS, and JD, contributing to the rapid growth of the user base [4] - According to IDC's latest report, Huawei is projected to regain the top position in the domestic smartphone market with an 18.1% share by Q2 2025 [4] - Huawei's chairman expressed gratitude towards users for their support of HarmonyOS and announced plans to thank users by selecting 100 phones [4]

Group 1 - Huawei recently launched the HUAWEI MatePad Pro 12.2-inch, which is fully equipped with HarmonyOS 5, marking a significant advancement in tablet productivity towards desktop-level professional drawing and creative applications [2] - Wankey Technology's Wankey MindMap is the first professional mind mapping software deeply adapted to the HarmonyOS tablet, showcasing its core features that enhance user efficiency in daily learning and work [2] - The Wankey MindMap HarmonyOS version validates the capability of HarmonyOS tablets to support complex professional applications and establishes a new paradigm for cross-end collaboration within the Harmony ecosystem [2] Group 2 - Wankey Technology has accelerated its layout in the Harmony ecosystem, with products like Wankey MiaoYing, Wankey MindMap, and Wankey Diagram already adapted to the Harmony system [3] - A comprehensive cooperation agreement was signed between Wankey Technology and Huawei Terminal Co., aiming to jointly build the HarmonyOS ecosystem [3] - Wankey Technology has launched the Wankey Tianmu multimedia model 2.0 and is actively recruiting for the 2026 class, offering competitive salaries to attract top talent [3]

Investment Rating - The investment rating for the company is "Buy," indicating a potential return exceeding 10% relative to the CSI 300 index over the next six months [20]. Core Insights - The company is focusing on a multi-dimensional layout in the "AI + HarmonyOS" market, leveraging its partnership with Huawei to enhance its service offerings across various sectors including finance, government, and energy [2][3]. - The company has experienced a revenue growth decline during the transition period from 2023 to 2024, with expected growth rates of -14.44% and -0.97% respectively, but anticipates a recovery with growth rates of 6.74% and 9.37% in the following years [2][13]. - The company aims to build a comprehensive AI technology stack, including AI-native ERP solutions and various AI applications tailored for key industries [2][3]. Summary by Sections 1. IT Services and Business Outlook - The company is stabilizing its IT service core business, focusing on AI and HarmonyOS integration, and has maintained its leading position in the Huawei cloud ecosystem for seven consecutive years [2][3]. - Revenue projections for 2024 show a total of approximately 16,950.73 million, with a slight decline expected, followed by a recovery in subsequent years [11][16]. 2. Revenue Forecast - The Technical Professional Services Group (TPG) is expected to see a revenue decline of 1.7% in 2024, while the Internet Information Technology Services Group (IIG) anticipates a 4.0% increase due to growth in Agent products and HarmonyOS solutions [13][16]. - Revenue growth rates for TPG are projected at 7.00%, 10.00%, and 10.00% from 2025 to 2027, while IIG is expected to grow at 5.00% annually during the same period [14][15]. 3. Financial Performance - The company's net profit attributable to shareholders is projected to decline by 28.10% in 2024, with subsequent growth rates of 19.46%, 18.21%, and 12.77% in the following years [11][19]. - Earnings per share (EPS) are expected to increase from 0.19 in 2024 to 0.30 by 2027, reflecting a positive trend in profitability [11][19].

Investment Rating - The industry investment rating is maintained at "Overweight" [2][8] Core Insights - Huawei launched its first tablet featuring HarmonyOS 5.0, marking a significant expansion of the native Harmony ecosystem [4][6] - The new Huawei MatePad Pro 12.2-inch (2025 version) showcases a 30% increase in overall performance and a 20% improvement in operational smoothness compared to previous models without HarmonyOS [5][6] - The tablet is positioned as a high-end device for productivity and creativity, with multiple AI features and a comprehensive upgrade in hardware and software [6][7] Summary by Sections Industry Performance - The electronic industry has shown a recovery trend since 2025, with strong demand for AI infrastructure and hardware upgrades driven by advancements in AI technology [7][14] Product Launch - Huawei's MatePad Pro 12.2-inch (2025 version) is the first to come pre-installed with HarmonyOS 5.0, enhancing its software ecosystem and capabilities [4][6] - The tablet supports various AI functionalities, including intelligent split-screen and real-time handwriting adjustments, making it suitable for diverse use cases [5][6] Investment Opportunities - The report highlights investment opportunities in AI infrastructure and edge-side System on Chip (SoC) sectors, with specific companies recommended for attention, such as Cambricon, Chipone, and Aojie Technology [8][14]