12月18日上午，广东省人民政府新闻办公室召开"'十四五'广东成就"深圳专场新闻发布会，深圳市委副 书记、市长覃伟中介绍"十四五"时期深圳经济社会发展情况。深圳市发展改革委、教育局、科技创新 局、工业和信息化局主要负责人参加，并回答记者提问。 科研 智力支撑更加坚实，实施更加积极、开放、有效的人才政策，打造粤港澳大湾区高水平人才高地。目 前，全市人才总量达719万，其中技能人才406万，专业技术人才255万，高层次人才2.65万，留学归国 人员超23万，1050名学者入选全球前2%顶尖科学家榜单，连续两年位居95后人才吸引力全国首位。 此外，深圳建成多层次科技金融体系，设立了千亿级产业引导基金、百亿级天使母基金、20亿规模的科 技创新种子基金。2024年末，科技贷款余额达9873亿元，知识产权质押登记金额511亿元。PCT国际专 利申请量连续22年、国内专利授权量连续7年居全国首位。 创新 战略性新兴产业增加值 占地区GDP比重提升到42.3% "十四五"期间，深圳在推进新型工业化、因地制宜发展新质生产力和建设现代化产业体系方面取得了哪 些成效? 深圳市工业和信息化局局长黄强介绍，"十四五"期间，深圳规上工业 ...

"十四五"前四年，深圳全市地区生产总值从2020年的2.78万亿元增至2024年的3.68万亿元，年均增长 5.5%、增速居一线城市首位。 12月18日上午，广东省人民政府新闻办公室召开"'十四五'广东成就"深圳专场新闻发布会，深圳市委副 书记、市长覃伟中介绍"十四五"时期深圳经济社会发展情况。深圳市发展改革委、教育局、科技创新 局、工业和信息化局主要负责人参加，并回答记者提问。 "十四五"前四年GDP增速 居一线城市首位 覃伟中从经济实力大幅跃升、新质生产力蓬勃发展、科技创新取得重大突破、城市功能品质显著提升、 社会民生事业实现跨越式发展等六个方面介绍了"十四五"时期深圳经济社会发展情况。"十四五"前四 年，深圳全市地区生产总值从2020年的2.78万亿元增至2024年的3.68万亿元，年均增长5.5%、增速居一 线城市首位。 记者注意到，"十四五"期间，深圳经济社会发展取得多项"第一"，凸显走在前列、勇当尖兵的成效和作 为—— 规上工业总产值、工业增加值从2022年开始保持全国城市"双第一"。 全社会研发投入年均增长12.9%、总量居全国城市第二，研发投入强度跃居全国城市首位，其中：企业 研发投入占比保持 ...

12月18日，广东省人民政府新闻办公室召开"'十四五'广东成就"深圳专场新闻发布会， 企业队伍方面，深圳持续提升企业服务水平，创新开展"园区贷"试点，试点经验在全国推广。企业培育 成效显著，2025年新增347家专精特新"小巨人"企业，总量达1333家，位居全国大中城市第一位，深圳 成为"专精特新第一城"；国家级制造业单项冠军数量从2020年末的28家提升至2024年的95家；培育瞪羚 企业215家、独角兽企业42家，国家高新技术企业超2.5万家。 在回答记者提问时，深圳市工信局局长黄强介绍，"十四五"期间，深圳规上工业总产值突破5万亿元大 关；全部工业增加值迈上1.2万亿元台阶，规上工业总产值、工业增加值从2022年开始保持全国城市"双 第一"，工业增加值占GDP的比重保持在三分之一以上。全市建成投产11个百亿级工业项目，预计工业 投资总规模将超万亿元。 （文章来源：21世纪经济报道） 产业结构方面，据介绍，"十四五"期间，深圳系统谋划以先进制造业为骨干的20大战略性新兴产业集群 和8大未来产业，战略性新兴产业增加值从2020年的1.03万亿元提升到2024年的1.56万亿元，占地区生产 总值比重从37.1 ...

Group 1 - The core viewpoint emphasizes that China's modernization relies on technological modernization, with a strong call for enhancing independent innovation capabilities among enterprises [1] - The "14th Five-Year Plan" highlights that over 500,000 high-tech enterprises have emerged, with enterprises accounting for over 77% of total R&D investment, indicating significant progress in independent innovation [1] - Key core technologies cannot be acquired through purchase or imitation; only through persistent independent innovation can enterprises secure their position in the competitive market [1] Group 2 - The current global landscape is rapidly changing, and technological innovation is seen as a critical variable for addressing risks and driving high-quality development [2] - There is a pressing need to strengthen basic research to build a solid foundation for innovation, as recent years have shown a growing shortfall in this area [2] - Enterprises are encouraged to increase R&D investment, particularly in basic research, to address key technological challenges from the ground up [2] Group 3 - Optimizing the innovation ecosystem is essential for enhancing innovation efficiency, as current challenges include a shortage of high-level scientific talent and insufficient enterprise-led collaboration in industry-university-research partnerships [3] - Companies are urged to take on roles as "problem solvers" and to foster a culture that encourages innovation and tolerates failure [3] - The collective innovation efforts of numerous Chinese enterprises are expected to drive high-quality economic and social development [3]

Core Insights - Guangdong is accelerating the construction of a strong provincial innovation system during the "14th Five-Year Plan" period, focusing on enhancing the supply capacity of original innovations and promoting the synergy between technological and industrial innovations [1][3]. Innovation Achievements - The "Shenzhen-Hong Kong-Guangzhou" innovation cluster has achieved the highest global innovation index [2]. - R&D expenditure in Guangdong has surpassed 510 billion yuan, maintaining its leadership nationwide [2]. - The province has cultivated nine trillion-yuan industrial clusters, with the core AI industry exceeding 220 billion yuan, accounting for approximately one-third of the national total [2]. - Guangdong ranks first in the number of high-value invention patents and high-tech enterprises in the country [2]. Open Innovation Ecosystem - The construction of the Cold Spring Ecosystem Research Facility in Nansha is progressing, which will enhance marine science research and support the development of the Guangdong-Hong Kong-Macao Greater Bay Area as an international technology innovation center [4][6]. - Guangdong has established 26 key innovation platforms along the Greater Bay Area's technology innovation corridors, with a significant increase in cross-border collaboration and patent applications [5][6]. Foundation of Innovation - Guangdong is strengthening its foundational research capabilities, with over one-third of provincial R&D funds allocated to basic research [7][8]. - The province has initiated the "卓粤" plan to enhance basic research and has established a multi-faceted funding system to support it [7][8]. Technological Advancements - The collaboration between Kingmed Diagnostics, Tencent, and Guangzhou Medical University has led to the development of the DeepGEM pathology model, which predicts lung cancer gene mutations with high accuracy [9]. - The AI industry in Guangdong is rapidly growing, with the core industry scale expected to exceed 220 billion yuan by 2024 [9][10]. Future Directions - Guangdong plans to enhance strategic orientation and systematic planning in major platform construction, key technology breakthroughs, and application of research outcomes to further strengthen its position as a technology innovation powerhouse [10][11].

Core Insights - Guangdong is reshaping its technological innovation system, focusing on original and foundational innovation to seize the high ground in international technological competition [1][3][9] - A multi-layered laboratory system has emerged in Guangdong, featuring high-level laboratories that support local technological innovation and industrial development [3][4][9] Laboratory System Development - Guangdong has established a multi-tiered laboratory system, including 24 provincial laboratories, 26 national key laboratories, and 459 provincial key laboratories, with Guangzhou and Pengcheng laboratories leading the way [3][4] - The province's laboratory construction is not only aimed at technological breakthroughs but also emphasizes institutional and mechanism innovation [5] Technological Advancements - The province has made significant progress in key core technologies, achieving breakthroughs in various fields such as new generation communication, operating systems, industrial software, and new energy vehicles [9] - The first fully autonomous A3 laser copier, developed by a Guangdong enterprise, showcases the province's advancements in overcoming "bottleneck" technology challenges [8][9] Industry Application and Ecosystem - The laboratories in Guangdong are becoming the main force in the transformation of scientific and technological achievements into industrial applications, with the Songshan Lake Materials Laboratory serving as a key example [6][7] - The Songshan Lake Materials Laboratory has incubated 38 industrial companies with a sales contract amount exceeding 1.2 billion yuan, demonstrating its role in bridging the gap between research and industry [6][7] Support for Enterprises - The laboratory system provides essential support for small and medium-sized enterprises, acting as a "top-tier hospital" for technology testing and problem-solving [7] - Over 250 enterprises have benefited from the services provided by the Songshan Lake Materials Laboratory, highlighting its importance in the local innovation ecosystem [7]

Group 1 - The U.S. has provided $21.7 billion in military aid to Israel over the past two years amid the ongoing Israel-Palestine conflict, highlighting the importance of U.S. weapons in Israeli military operations [2] - The Palestinian group Hamas is negotiating a ceasefire with Israel in Egypt, demanding an end to the occupation of Gaza and linking the release of Israeli captives to Israel's withdrawal [2] - The global stock markets experienced a rally during the recent holiday period, with major indices showing positive performance, particularly in Japan and South Korea, where the Nikkei 225 index rose by 6.24% [4] Group 2 - The tourism industry in China saw a significant increase in long-distance travel during the recent "Golden Week," with domestic long-distance travel orders rising by 3 percentage points compared to last year, and average spending per trip increasing by 14.6% [3] - The prevalence of hypertension among Chinese adults has risen to 31.6% in 2021-2022, an increase of 8.4% from 2012-2015, with obesity and sleep quality identified as contributing factors [3] - China's advanced manufacturing sector is experiencing rapid growth, with a 10.2% increase in the value added of large-scale equipment manufacturing in the first half of the year, as part of the country's push for modernization and innovation [4]

Group 1 - China's new energy vehicle production and sales rank first in the world, and the native Hongmeng operating system has become the third largest mobile operating system globally [1] - The number of "lighthouse factories" in China ranks first globally, showcasing the country's advancements in technology and industry innovation [1] - The strong investment in R&D and the growth of innovation platforms highlight the increasing role of enterprises in technological innovation and the transformation of research outcomes into industrial applications [1] Group 2 - The third-generation autonomous superconducting quantum computer "Benyuan Wukong" has completed 500,000 computing tasks for 143 countries and regions within just over a year, breaking foreign monopolies in high-density microwave interconnection module technology [2] - Over the past five years, China has improved the institutional arrangements for enterprises as the main body of technological innovation, with over 77% of R&D investment coming from enterprises [2][5] - The number of high-tech enterprises in China exceeds 500,000, and the number of invention patent applications from industrial enterprises has increased from 907,000 at the end of the 13th Five-Year Plan to 1,244,000 in 2024 [2] Group 3 - Enterprises are increasingly becoming the main force in the transformation and application of scientific and technological achievements, with a multi-layered technology transaction network being formed [5][6] - The total transaction amount of technology contracts in China has risen from 2.8 trillion yuan in 2020 to 6.8 trillion yuan in 2024, with the industrialization rate of invention patents increasing from 44.9% to 53.3% during the same period [5] Group 4 - Small and medium-sized enterprises (SMEs) have become a backbone in the innovation landscape, with over 400,000 new SMEs added annually since the 14th Five-Year Plan, and more than 10,000 specialized and innovative SMEs established [7] - The average annual growth rate of the added value of industrial SMEs has reached 6.4%, indicating a robust contribution to the economy [7] Group 5 - As China stands at the historical intersection of the 14th and 15th Five-Year Plans, enterprises are reaching new heights in innovation, contributing significantly to the global technology landscape [8]

Core Viewpoint - The report from Kaiyuan Securities highlights China Software International (00354) as a leading IT service provider in China, significantly benefiting from its deep partnership with Huawei, which contributes over 40% of the company's revenue [1] Group 1: Business Performance - The company's cloud intelligence business is experiencing significant growth, with a notable increase in full-stack AI product deployment, indicating strong growth potential [2] - The ICT service remains the cornerstone of the company's business, contributing the majority of revenue and profit, with a recovery in revenue expected in the second half of 2024 [2] - The total number of employees is rebounding, and the number of major clients has reached the second-highest level since 2020, showcasing effective client expansion [2] Group 2: Strategic Partnerships - The company is a key partner in Huawei's "Together We Thrive" initiative, having collaborated with Huawei since 2009 and playing a crucial role in various fields [3] - The company is deeply integrated into the development of the HarmonyOS ecosystem, with expectations of benefiting from the recovery of Huawei's terminal business and the completion of the "1+8+N" IoT ecosystem [3] - The company has launched tools for HarmonyOS developers and is collaborating with institutions like Shenzhen Angel Fund to support entrepreneurial developers, positioning itself as a core service provider in the Harmony ecosystem [3] Group 3: Financial Projections - The company has revised its profit forecasts for 2025 and introduced projections for 2026-2027, expecting net profits of 564 million, 628 million, and 708 million yuan respectively, with corresponding EPS of 0.21, 0.23, and 0.26 yuan per share [1] - The original profit forecast for 2025 was 1.342 billion yuan, indicating a significant downward adjustment [1] - The projected price-to-earnings ratios for 2025, 2026, and 2027 are 26.9, 24.1, and 21.4 times, respectively [1]

Investment Rating - The report maintains a positive outlook on the AI-PCB, Apple supply chain, AI-driven, and self-controlled industry chains, suggesting a "Buy" rating for these sectors [3][25]. Core Insights - Nvidia's GTC 2025 conference is expected to showcase significant advancements in AI and accelerated computing technologies, including the introduction of Blackwell Ultra and Rubin platforms, which are anticipated to enhance performance and efficiency [1][3]. - The semiconductor industry is experiencing a price increase in storage chips, with major companies like Micron and Western Digital announcing price hikes of over 10% starting April 1 [1][17]. - The report highlights a robust demand for AI-related hardware, driven by both North American and domestic internet giants, leading to significant growth in the AI-PCB sector [3][25]. Summary by Sections 1. Semiconductor Foundry - TSMC's CoWoS monthly capacity is projected to increase to 65,000-75,000 wafers by 2025 and reach 90,000-110,000 wafers by 2026 [2]. 2. Consumer Electronics - Huawei is set to hold a new product launch event on March 20, which is expected to boost domestic demand [2][5]. 3. PCB - The PCB industry is showing signs of recovery, with a stable upward trend anticipated due to increased demand from home appliances, automotive, and AI applications [2][6]. 4. Components - Delta has confirmed the GB300 supercapacitor configuration, and LCD panel prices are on the rise due to ongoing demand [2][15]. 5. IC Design - SanDisk has initiated a price increase, signaling an upcoming price surge in the storage sector [2][17]. 6. Semiconductor Equipment, Materials, and Parts - The report notes a trend of de-globalization in the semiconductor industry, with intensified sanctions leading to a focus on self-sufficiency [2][17]. 7. Advanced Packaging - TSMC plans to invest $38-42 billion in 2025 to support growth, with a significant portion allocated to advanced processes and packaging [18]. 8. Semiconductor Equipment Market - The global 300mm wafer fab equipment spending is expected to grow significantly, driven by AI chip demand [19][20]. 9. Key Companies - Companies such as Shenghong Technology and Lixun Precision are highlighted as beneficiaries of the AI-PCB and Apple supply chain trends, with expected strong performance in the upcoming quarters [25][27][28].