Investment Rating - The report does not explicitly provide an investment rating for the industry. Core Insights - The paper finds that stronger firm digitalization is associated with higher tax revenues across countries, with a one-standard-deviation increase in firm digitalization linked to an increase in tax revenues-to-GDP by up to 3 percentage points, conditional on the level of digitalization of tax administration (GovTech) [3][12][17] - Firm digitalization significantly improves tax compliance among high-risk taxpayers, such as small and informal enterprises, particularly in the service sector, indicating that digitalization broadens the corporate tax base and enhances compliance [3][12][14] - There is a significant synergy between firm digitalization and GovTech, underscoring the importance of promoting both to enhance tax collection [3][12][14] Summary by Sections Introduction - The benefits of government digitalization (GovTech) for tax collection have been well acknowledged, with empirical studies showing that digitalizing tax administration can enhance revenue collection significantly [9] - The relationship between firm digitalization and tax revenues remains largely unexplored, necessitating further research to understand its potential impact on tax collection [10][11] Literature Review - A long-standing literature documents benefits from firm digitalization, including higher growth and resilience to shocks, but the impact on tax revenues is less understood [16][18] - Policies to foster firm digitalization include upgrading internet infrastructure and promoting IT skills, which are essential for enhancing tax compliance [19] Empirical Analyses - The report employs both country-level and firm-level analyses to investigate the relationship between firm digitalization and tax revenues [21][22] - Country-level evidence shows that countries with stronger firm digitalization have higher tax revenues, with a strong positive correlation between business digitalization and tax revenues [23][28] - Firm-level evidence indicates that firm digitalization is associated with a higher probability of paying taxes and larger tax payments, particularly in emerging markets and developing economies [49][58] Conclusions - The findings suggest a dual approach of promoting both GovTech and firm digitalization to enhance tax revenues, highlighting that investments in digitalization will yield future tax revenue increases [14][15]

Group 1 - The event held in Huizhou aimed to inject new vitality into Guangdong's high-quality development through new ICT technologies like AI and computing power, promoting business model innovation and value growth [1] - Many small and medium-sized enterprises (SMEs) in Guangdong face challenges in digital transformation, including lack of technical reserves and digital literacy, as well as concerns over high costs and long cycles [1] - The Huadu District is collaborating with Huawei and other parties to build a new industrial digital service platform to empower SMEs with AI and digital technologies, facilitating data management and digital upgrades [1] Group 2 - The Guangdong Provincial Laboratory of Traditional Chinese Medicine is developing a large-scale model in the TCM field based on Huawei's computing solutions, transitioning traditional diagnostic methods to a more digital approach [2] - During the summit, several institutions signed agreements with Huawei to promote intelligent development, marking a commitment to deep collaboration in research and application expansion [2] - Huawei's Ascend computing technology is positioned to support the growing demand for computing power in the development of large models, enabling reliable and efficient AI innovations [2] Group 3 - Huawei's Global Supply Chain President emphasized the company's commitment to accelerating innovation in the Greater Bay Area through AI and diverse practical scenarios, aiming to enhance collaboration with various industries in Guangdong [3]

中新网四川新闻5月11日电 定位于"新时代卓越的数字智能综合服务商"的长虹佳华，成立20余年来，连 续17年业绩增长，业务规模达400亿，即便2024年经营复杂严峻、内外部困难增多，依然取得了营收和 净利双增，登榜上市公司品牌500强第276位。 在生态建设的道路上，长虹佳华不断突破传统边界，积极探索创新"价值"模式。在教育领域，深入探 索"云宇宙教育应用"，开发"虚实融合多人交互教学平台"，将其应用于医学教育，以3D解剖与沉浸式学 2024年度长虹佳华优秀 长虹佳华以数智技术为基石，全力构建"智能商业"生态体系，从采虹链、虹智联，到Metamall平台、融 合零售电商平台；从虹易签、佳品宝，到虹服宝、虹易采……长虹佳华构建了覆盖数智生态链接、交 易、供应链、渠道营销等多个领域的完整数智化产品服务矩阵。 员工颁奖典礼。长虹控股集团供图 在生态创新文化的滋养下，长虹佳华已建立起庞大的商业伙伴服务体系。业务范围涵盖金融、电信、医 疗等25个行业，构建起覆盖触达全国的渠道体系。 长虹佳华拥有20余年ICT行业服务经验，由450余位工程师组成的专业技术服务团队，具备领域内头部 品牌ICT软硬件、基础设施、云计算/开源 ...

当AI时代来临，赋能行业智能化成为重要课题。在这当中，制造业成为AI+深耕的重要行业，如何加速制造业智能化转型、有哪些解决方案？这些话题都 备受业界关注。记者从4月28日于广州举行的华为AI+制造行业峰会2025上了解到，由创新驱动，人工智能目前在制造业加快落地生根，汽车、机械电 子、医药、重工业、轻工业等制造行业是最快落地的重要细分行业领域。值得关注的是，广州制造业的智能化又有新进展，本次峰会上，广汽集团与华为 联合发布了智能化研发平台解决方案，并宣布智能化研发平台样板点建设正式启动。 创新引擎拥抱AI+制造发展新阶段 目前，千行万业被推向智能化跃迁的临界点，以大模型为引领，技术突破与行业融合加速，进入了应用深度普及的人工智能新时代。制造业以其海量数 据、复杂流程和标准化场景，不仅为大模型落地提供了丰富场景，更为行业发展注入全新动能。在本次以"加速行业智能化"为主题的峰会上，国家制造强 国建设战略咨询委副主任、国家智能制造专家委主任苏波在发言中表示，中国制造在过去十年中以坚定的战略定力、创新的技术突破和协同的产业生态， 交出了一份优异答卷："面向未来我们要坚持自主创新、开放合作，为中国智能制造注入澎湃动能。 ...

出品 | 凤凰网财经《封面》 主持人丨张涛 制片人 | 李念雪 2024 年，中国新能源汽车市场渗透率首次突破 50% ，这意味着每卖出去两辆车，就有一辆是新能源，而智能化也无疑成为车企角逐的核心战场。 在这场浪潮中，华为乾崑用亮眼的成绩单，为行业注入了一剂强心针。 2025 年 4 月，执掌车 BU 一年多的 CEO 靳玉志带着 HUAWEI ADS 4 亮 相华为乾崑智能技术大会，期间，首次在凤凰网财经《封面》专访中完整阐述了华为乾崑的愿景 ——" 把智能带入每一辆车 " 。 这位在华为扎根 20 余年的 " 技术派 " 高管，身上带着鲜明的华为基因：务实、长期主义，忠于技术。也是技术的相通性，支撑了靳玉志从光产品 线到智能汽车赛道的丝滑转型，"我们只是进入汽车行业中智能化的部分，根基还是 ICT 技术，如果一定要说区别，那就在于过去更多面向 B 端， 现在增加了 C 端用户。" 公开年报显示， 2024 年华为研发投入达到 1797 亿元，约占全年收入的 20.8% 。靳玉志向《封面》透露，其中车 BU 的直接投入"已超大几百 亿"，面对是否有盈利压力的提问，他从容回应： " 华为乾崑一贯的战略就是帮助 ...

Core Viewpoint - Unisplendour Corporation (新华三) has demonstrated strong financial performance and strategic growth in the AI sector, with significant revenue increases and innovative product offerings in 2024 and Q1 2025 [1][2][8]. Financial Performance - In 2024, Unisplendour achieved operating revenue of 79.024 billion yuan, a year-on-year increase of 2.22% [1]. - For Q1 2025, the company reported operating revenue of 20.790 billion yuan, reflecting a substantial year-on-year growth of 22.25% [1]. - The subsidiary, Unisplendour, generated operating revenue of 55.074 billion yuan in 2024, up 6.04% year-on-year, and 15.295 billion yuan in Q1 2025, marking a 26.07% increase [2]. Business Segments - Domestic enterprise business revenue reached 44.239 billion yuan, growing by 10.96% year-on-year, providing comprehensive digital solutions for government and enterprise clients [2]. - Overseas business revenue was 2.916 billion yuan, with a remarkable growth of 32.44%, and H3C's overseas self-channel business revenue surged by 69.35% to 959 million yuan [2]. Technological Innovation - Unisplendour launched new products including the S12500AI series core switch and UniStor Polaris series storage, enhancing bandwidth utilization by 107% and supporting large-scale computing clusters [2][4]. - The company achieved a 102% improvement in training performance with the deployment of 64-card high-speed interconnected super nodes [3]. - Innovations in cooling technology and the introduction of the M9000-X firewall have significantly improved performance and operational stability [4][5]. AI Application and Ecosystem Development - Unisplendour is focused on bridging the "last mile" for AI implementation across various industries, launching the LinSeer Cube for deep integration of AI in sectors like government, transportation, and healthcare [6]. - The company is actively building AI computing centers in multiple regions, enhancing regional digital economic development and supporting the digital transformation of industries [7]. Strategic Global Expansion - Unisplendour has expanded its global presence by establishing five new subsidiaries in countries including South Korea and Poland, bringing the total to 22 branches worldwide [8]. - The company has maintained a leading position in the domestic market for enterprise WLAN and network equipment, with multiple years of top market share [8]. New Business Models - The Turing Town initiative has successfully established a comprehensive computing service platform, enhancing the commercialization of computing resources [9][10]. - The Turing Town model has been recognized as a typical application case for advanced computing empowerment by the Ministry of Industry and Information Technology [10].

4月28日，华为AI+制造行业峰会2025在广州举行。本次峰会以"加速行业智能化"为主题，来自汽车、 机械电子、医药、重工业、轻工业等制造行业的意见领袖、企业代表、产业伙伴、学者专家900余人现 场参会，共同探讨制造业数字化转型与智能化升级的新模式、新路径。 在峰会上，华为以"三层五阶八步"方法论为制造行业智能化加速提出实施路径，并分享7大场景20个解 决方案，基于自身实践助力智能制造走深走实，推动技术革新成为业务高质量发展的核心驱动力。 华为董事、质量流程IT总裁陶景文认为，制造型企业做AI应由业务场景驱动。华为根据自身的数字化转 型实践，总结形成了一套工程方法论，叫"三层五阶八步"。制造企业要用好业界的基础模型产品，首先 定义好最迫切的智能业务场景，加上企业自身的高质量垂域数据，小切口快速交付给业务应用，并持续 运营发挥价值。 华为中国政企业务副总裁郭振兴表示，2025年华为将抓住AI机遇，围绕数据"采传存、算管用"提供"智 能联接、智能存储、智能算力、智能平台"端到端的全栈新型基础设施，同时通过自身实践+ICT技术， 与合作伙伴一道深耕业务场景并打造了7大场景20个方案，助力企业数智化转型，持续为客户创 ...

Core Viewpoint - The company demonstrates strong revenue growth driven by its "AI in ALL" and "AI for ALL" strategies, with significant advancements in AI technology and market leadership in various sectors [2][3][4]. Financial Performance - In 2024, the company achieved a revenue of 79.024 billion yuan, a year-on-year increase of 2.22% - In Q1 2025, the revenue reached 20.790 billion yuan, showing a year-on-year growth of 22.25% - Subsidiary Xinhua San reported a revenue of 55.074 billion yuan in 2024, up 6.04% year-on-year, with Q1 2025 revenue at 15.295 billion yuan, reflecting a 26.07% increase [2]. Technological Advancements - The company continues to deepen its "AI in ALL" strategy, launching new products such as the S12500AI series and S9827 series, enhancing network performance and supporting high-performance AI computing [3]. - The introduction of the G7 series heterogeneous computing servers and the M9000-X firewall showcases the company's commitment to cutting-edge technology and security [3]. - The company has developed innovative cooling solutions to address high-power chip heat dissipation issues [3]. Market Position and Awards - Xinhua San has won two national science and technology progress awards, highlighting its technological leadership [4]. - The company maintains a strong market presence, leading in various segments such as enterprise WLAN and network routers for multiple consecutive years [4]. AI Application and Industry Integration - The company is focused on bridging the gap in AI application across various industries, launching the LinSeer Cube for end-to-end AI solutions [5]. - It has released several specialized AI models for sectors like healthcare and urban management, contributing to smart city initiatives [5]. Ecosystem Development - The company is actively building a computing power ecosystem, collaborating with partners to establish multiple computing centers across China [6]. - It has launched a new product line targeting small and medium-sized businesses, offering a diverse range of products to meet varied customer needs [6]. Global Expansion - The company is expanding its global footprint, with initiatives like the Turing Town project aimed at creating a comprehensive computing service platform [7]. - It aims to leverage its core technology and market experience to capitalize on AI opportunities and support digital transformation across industries [7].

Financial Data and Key Metrics Changes - The company remains committed to cost efficiency and fiscal discipline, aligning financial strategies with long-term value creation despite facing headwinds from capital expenditures and increased manpower costs [4] - Capital expenditure is expected to be marginally higher compared to the previous fiscal year [14] Business Line Data and Key Metrics Changes - Network services did not experience a revenue decline, but substantial expenses were incurred for new capacities leased for future business requirements [10] - Data center revenues show a secular growth trend, with two new greenfield facilities recently going live, each designed for a capacity of 30 megawatts [12][13] Market Data and Key Metrics Changes - Demand continues to exceed supply in the market, driven by cloud consumption from Indian enterprises and expanding hyperscalers [16] - In the short term, demand is expected to be driven by international hyperscalers, while medium to long-term growth will likely see increased consumption from Indian enterprises [22] Company Strategy and Development Direction - The company intends to strengthen its unique selling advantages in network, data center, and digital services over the coming years [5] - The focus remains on building resilience, enhancing operational agility, and capturing emerging opportunities in the ICT industry [4] Management's Comments on Operating Environment and Future Outlook - The operating leverage for network and data center infrastructure is positive, with potential for increased margins as capacity utilization improves [18] - Construction timelines have marginally improved post-COVID, but substantial demand for capacity creation means timelines have not changed materially [28] Other Important Information - The interest from capital providers remains stable, with no significant changes in the availability of resources such as land and power [27] Q&A Session Summary Question: What drove the decline in network services this quarter? - There was no revenue decline, but substantial expenses were incurred for new capacities leased for future business requirements [10] Question: Can you discuss the dynamics of data center services and the roadmap for the next fiscal year? - Data center revenues have a secular growth trend, with two new facilities recently going live, and the roadmap includes further capacity expansion [12][13] Question: What are the expectations for capital expenditure in fiscal twenty-six? - Capital expenditure will be marginally higher compared to fiscal twenty-five [14] Question: What is the demand mix expected to be driven by in the future? - Short-term demand will be driven by international hyperscalers, while medium to long-term growth will see more Indian enterprise consumption [22] Question: How has the construction timeline changed in the past six to twelve months? - Construction timelines have marginally improved compared to the post-COVID period, but substantial demand for capacity creation remains [28]