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 - Apple has successfully regained market share in China with the iPhone 16 Pro, achieving a significant increase in activation rates due to a strategic price reduction [3][4] - The price drop has led to a surge in sales, with the iPhone 16 Pro activating 520,000 units in week 20 of 2025, nearly 3.8 times the previous week, while the Pro Max model saw a 100% increase [3][4] - Despite a strong sentiment for supporting domestic brands, consumer purchasing behavior shows a preference for Apple products, with over 63% of consumers choosing Apple when price is comparable [6][7] Market Dynamics - Apple's market share in China reached 21.5%, surpassing domestic brands like Huawei and Xiaomi, marking a return to the top position after several quarters [4] - The price strategy is seen as a response to the competitive pressure from high-end domestic models and aims to build momentum ahead of major sales events [4][8] - Domestic brands face challenges in high-end market profitability due to Apple's pricing strategy, which diminishes the perceived value of similar-priced domestic models [8][9] Consumer Behavior - Consumers express a desire to support domestic brands but often choose Apple due to its ecosystem and user experience, which are perceived as superior [6][7] - The integration of Apple products creates a seamless user experience that is difficult for domestic brands to replicate, leading to a loyalty that transcends price considerations [6][12] Competitive Landscape - Domestic brands are struggling with a "three dilemmas" situation: profit pressure in the high-end market, ecological shortcomings compared to iOS, and challenges in the mid-to-low-end market [8][9] - The competition is shifting towards AI capabilities and innovative scenarios, with domestic brands exploring new user experiences that Apple has not yet addressed [11][12] - The future of competition may hinge on who can redefine the smartphone experience, with AI and integrated ecosystems becoming critical factors [13][14] Strategic Recommendations - Domestic brands need to focus on creating a comprehensive ecosystem that can rival Apple's, emphasizing seamless integration across devices and services [11][12] - Innovations in AI and unique user scenarios could provide domestic brands with opportunities to differentiate themselves from Apple [12][13] - The path to success for domestic brands lies not in competing on hardware alone but in establishing a compelling reason for users to switch from Apple [15][16]

Group 1: Rare Earth Export Control - China has implemented export controls on seven types of medium and heavy rare earths, enhancing resource sovereignty and pricing power while combating low-price exports to safeguard strategic needs in new energy and military sectors [1] - The price of terbium surged 210% within a month to $3,000 per kilogram, while dysprosium doubled to $850 per kilogram, leading to a rapid reassessment of the strategic value of rare earths in the global market [1] - The supply chains of key products such as the US F-35 fighter jet and Tesla electric vehicles are disrupted, resulting in cost surges and challenges in the military and new energy industries [1] - Northern Rare Earth's profits skyrocketed by 727% in the first quarter, and deep processing companies like Ningbo Yunsheng saw a significant increase in export orders, enhancing profit margins in the magnetic materials sector [1] - The US plans to impose tariffs on Chinese magnets, while China controls 40% of global dysprosium and terbium supply through overseas investments, making rare earths a new focal point in US-China competition [1] - The rapid expansion of global electric vehicles, wind power, and robotics is driving a 30% annual increase in rare earth demand, with prices expected to rise by 50% over the next 2-3 years [1] Group 2: Huawei HarmonyOS Ecosystem - Huawei's HarmonyOS employs a distributed microkernel architecture, enabling cross-device collaboration among smartphones, tablets, and automotive systems, with HarmonyOS NEXT further advancing the native ecosystem [4] - Companies like Seres, BAIC Blue Valley, and Changan Automobile are adopting HarmonyOS for their smart cockpit systems, while firms like Jilun Technology and Ruiming Technology are developing Harmony-compatible smart home and automotive devices [4] - Core applications such as Meituan, DingTalk, and Weibo have initiated the development of native Harmony versions, with Huawei promoting deep integration of hardware ecosystems through a "gold supplier" mechanism [4] Group 3: Optical Chip Shortage - The global optical chip market is dominated by Lumentum, II-VI, and Broadcom, with production lines concentrated and equipment delivery times exceeding 22 months, leading to an expansion cycle of 2-3 years [5] - The explosion of AI computing power is driving a surge in demand for 1.6T optical modules, CPOs, and data centers, with corresponding demand growth rates of 150% and 40% expected by 2025, making it difficult to alleviate shortages before 2026 [5] - The current optical chip market is experiencing a triple resonance of supply-demand mismatch, domestic substitution benefits, and technological leaps, suggesting a focus on domestic manufacturers with core technological breakthroughs and mature production capabilities for mid-term investment opportunities [5] Group 4: IDC Market Outlook - Despite a recent 20%-40% pullback in the A-share and US stock IDC sectors due to events like Tencent's earnings report, the short-term risks have been sufficiently released as overseas capital expenditure expectations recover and domestic projects are set to materialize in the second half of the year [6] - Major overseas cloud giants like Meta have raised their AI-related capital expenditure guidance, and Microsoft clarified that adjustments in data center leasing are seasonal fluctuations, indicating that global IDC demand remains strong [6] - Domestic restrictions on H20 chip procurement are being absorbed by the market, while breakthroughs in supernode performance by companies like Huawei are accelerating the adoption of domestic computing power chips, benefiting domestic IDC firms [6] - Valuations for leading companies like Data Port and Guanghui New Network have fallen below 20 times EV/EBITDA, returning to the bottom of past boom cycles, indicating strong potential for valuation recovery [6] - The IDC sector is currently in a strategic layout window, with a focus on companies that possess quality clients, capacity reserves, and stable delivery capabilities [6]

Core Insights - The Chinese smartphone market experienced a mild growth of 5% year-on-year in Q1 2025, with shipments reaching 70.9 million units, driven by national subsidy policies and consumer recovery [1][3] Group 1: Market Performance - Xiaomi led the market with shipments of 13.3 million units, a 40% increase year-on-year, capturing a market share of 19% [1][5] - Huawei followed closely with 13 million units shipped, maintaining double-digit growth [1][5] - OPPO and vivo ranked third and fourth with shipments of 10.6 million and 10.4 million units, respectively [1] - Apple saw a decline in shipments to 9.2 million units, an 8% drop year-on-year, placing it fifth in the market [1][5] Group 2: Impact of National Subsidy Policy - The national subsidy policy implemented in January has positively influenced market performance, prompting some consumers to upgrade their devices earlier, reflecting a shift in demand rather than organic growth [3] - The policy has also reinforced the dominance of major retail channels and e-commerce platforms like Tmall and JD.com [3] Group 3: Company Strategies and Innovations - Xiaomi's growth is attributed to its product and channel synergy, with a unified pricing strategy that reduces consumer decision costs [5] - Huawei is focusing on effective channel management and expanding its product offerings, including advancements in foldable devices and the development of the HarmonyOS ecosystem [5] - The penetration rate of AI smartphones in China reached 22% in 2024 and is expected to exceed 40% in 2025, highlighting the importance of innovation in areas like foldable screens and operating systems [5]

C analys（现已并入Omdia）的全球智能手机分析服务为全球厂商总部及区域战略，产品，渠道策略的决 策者，提供领先于市场的全面、及时和高质量的出货量分析数据。我们将全球86个市场，40+厂商出货量 的追踪数据与Canalys独有的一级和二级渠道数据相结合，为客户全球策略的制定，提供深入的数据支 撑。我们全球多语言的分析师团队为客户提供专属分析沟通会，并高效协助决策者深入了解最关键的市场 趋势，以多层次的数据分析维度提供第三方分析洞见和可执行建议。 Canalys（现并入Omdia）最新数据显示，2025年第一季度，中国智能手机市场出货量达7090万部，受到国家 补贴政策提振及消费复苏推动，同比温和增长5%，延续了自2024年开启的复苏趋势。其中，小米出货量达 1330万部，同比增长40%，在国补刺激以及其人车家一体的战略协同下时隔十年重回第一，市场份额19%。华 为紧随其后，依旧维持双位数增长，出货1300万部，位列第二。OPPO、vivo分别以1060万部和1040万部的出 货量位列第三和第四。苹果在其传统旺季后出现下滑，出货920万部，同比下跌8%，排名第五。 Canalys （现并入Omdia）研 ...

"鸿蒙生态的发展有赖于中国软件产业同仁、千行万业伙伴的支持才共建起来，也正是有了大家共同的努力，华为得以持续推动技术生态的繁荣与发展。我 们期待未来继续与各方携手合作，持续为技术生态注入活力、探寻更多变革与机遇。"望岳强调，正是基于各方的协作努力，华为才能持续推动技术生态的 繁荣。他同时表达了对未来深化合作的期待，希望通过多方协同持续激发技术生态活力，共同探索产业变革中的新机遇。 据悉，本届大会还邀请了工业信息化部、中国科学院、开放原子开源基金会等机构的专家代表，围绕软件产业技术创新、生态发展等议题展开深入探讨。与 会专家普遍认为，在人工智能技术快速发展的背景下，产业协同将成为推动软件行业高质量发展的关键因素。（文智） 华为终端云开发者服务与平台部总裁望岳作为企业代表发表演讲时表示，HarmonyOS NEXT以数字创新为底座，依托智能、全场景多端协同、元服务等特 性，可高效支撑政府数字化治理、企业智能化转型，助力"人工智能+"行动落地。人工智能等智能技术和数字化技术的深度融合，也将为软件产业高质量发 展带来了前所未有的新机遇。 【环球网科技综合报道】2025年4月24日，第四届中国国际软件发展大会在北京国家 ...

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]

Group 1: Deep Sea Technology - The government work report for 2025 mentions the promotion of emerging industries such as commercial aerospace, low-altitude economy, and deep-sea technology, indicating potential future policies and major project implementations [2] - China's marine economy surpassed 10 trillion yuan in 2024, with deep-sea technology expected to be a significant growth engine for this sector [2] - Major equipment and engineering projects in the deep-sea field, such as UUVs, deep-sea space stations, and underwater observation networks, are underway, which will drive continuous resource development [2] - The three fields (deep-sea technology, commercial aerospace, low-altitude economy) share a core logic of military-civilian integration, supporting military strength while providing new economic growth engines [2] Group 2: Runze Technology - The company is a leader in park-level data centers, collaborating deeply with downstream telecom operators, large internet companies, and cloud service providers to offer IDC and AIDC services [2] - Since 2010, the company has established a presence in key regions such as Beijing-Tianjin-Hebei, Yangtze River Delta, Greater Bay Area, Chengdu-Chongqing Economic Circle, and Northwest regions, with a new park in Hainan added in 2023 [2] - The company has planned and constructed seven AIDC intelligent computing infrastructure clusters, with 61 intelligent computing centers and approximately 320,000 cabinet resources [2][3] - The company's mature data center shelf rate exceeds 90%, significantly higher than the industry average of 58%, indicating effective customer attraction and operational efficiency [3] - The company’s gross profit margin for the first three quarters of 2024 is 31%, substantially higher than peers, due to high shelf rates and excellent cost control [3] - The company is expected to maintain high profitability and benefit from the AIDC industry's growth, with projected net profits of 2.19 billion yuan, 3.19 billion yuan, and 4.00 billion yuan for 2024, 2025, and 2026, respectively [3] Group 3: Softcom Power - Softcom Power is a leading IT service company in China, providing digital information technology services to major enterprises like Huawei, Alibaba, Baidu, and Tencent [5] - The company has enhanced its hardware product line through acquisitions, promoting a "soft and hard integration" strategy to improve its overall competitiveness [5] - The launch of HarmonyOSNEXT by Huawei marks the official arrival of the "pure blood" Hongmeng system, which is expected to drive demand for PC products equipped with this system [5] - The company is positioned to benefit from the AI development wave as it continues to invest in AI and build computing centers [5] - Softcom Power has established a joint venture with Zhiyuan Robotics and launched its first humanoid robot, Tianhe C1, anticipating rapid industry growth by 2025 [5][6] - Collaborations with major tech companies like Alibaba Cloud, Tencent, and Baidu, along with partnerships in AI model development with ByteDance, position the company favorably in the AI and internet sectors [6]

Investment Rating - The industry investment rating is "stronger than the market," indicating that the industry index is expected to perform better than the benchmark index in the next 6-12 months [17]. Core Viewpoints - The report highlights that the specific company, Softcom Power, is a leading IT service provider in China and has initiated a "soft and hard integration" strategy following its acquisition of Tongfang Computer. This positions the company to benefit from the accelerated development of HarmonyOS, the implementation of domestic innovation policies, and advancements in humanoid robot training [5][6]. - The launch of HarmonyOS NEXT in August 2023, which no longer supports Android applications, marks a significant milestone for the company. The demand for PC products equipped with HarmonyOS is expected to rise, particularly in light of U.S. sanctions and domestic innovation policies [6]. - Softcom Power is strategically positioned in the humanoid robotics sector, having established a joint venture with Zhiyuan Robotics and launched its first robot, Tianhe C1, in January 2025. The company is leveraging NVIDIA's advancements in synthetic motion generation to enhance its training capabilities [7]. - The company is also focusing on the internet sector and is expected to benefit from the growth of AI, as it collaborates with major internet firms like Alibaba, Tencent, and ByteDance on AI-related products and applications [8]. Summary by Sections Company Overview - Softcom Power is recognized as a leading digital information technology service provider in China, with long-term partnerships with major companies such as Huawei, Alibaba, and Tencent. The acquisition of Tongfang Computer is expected to create a new growth segment in hardware [5]. Market Trends - The report notes that the release of HarmonyOS NEXT and the subsequent increase in market share for HarmonyOS devices are critical developments. The company is a key partner in this ecosystem, contributing to the development of PC and server products that align with domestic innovation policies [6]. Humanoid Robotics - The humanoid robotics sector is highlighted as a significant growth area, with Softcom Power actively participating in this field through collaborations and product launches. The advancements in AI and robotics technology are expected to drive growth in this segment [7]. Internet and AI Collaboration - The company's strategic partnerships with leading internet firms position it well to capitalize on the growing demand for AI solutions. The collaboration with ByteDance, in particular, is expected to yield significant benefits as the latter expands its AI initiatives [8].

Core Viewpoint - The official version of the native HarmonyOS is set to launch soon, showcasing significant user feedback and improvements since its public testing began in October 2024 [1][2][3]. Group 1: User Feedback and System Development - Over 4 million user feedback entries have been collected, leading to more than 30 iterations and the addition of over 150 new features [1][8]. - The initial launch faced criticism due to compatibility issues and stability concerns, but the system has evolved to support seamless transitions across devices [5][12]. - Major applications like WeChat, Douyin, Alipay, and others have surpassed 2 million downloads on the HarmonyOS platform [11]. Group 2: Developer Engagement and Ecosystem Growth - HarmonyOS has become a preferred choice among leading internet companies, attracting developers with its low barrier to entry and high rewards [14][15]. - The ecosystem is projected to exceed 1 billion devices by the end of 2024, with new devices continuously being added [15][16]. - The goal for 2025 is to reach 100,000 applications, with significant growth in developer job opportunities and salaries in the market [18][19]. Group 3: Future Outlook and Strategic Goals - The year 2024 is seen as a period of acceleration for the HarmonyOS ecosystem, while 2025 is expected to mark its maturity [17][18]. - The dual interaction between the ecosystem and developers is creating substantial commercial value, positioning HarmonyOS as a self-sustaining entity [20].