[Table_Main] 行业研究|信息技术|软件与服务 证券研究报告 计算机行业周报 2025 年 07 月 21 日 [Table_Title] 国内外 AI 创新加速，行业有望持续受益 ——计算机行业周报 [Table_Summary] 报告要点： 本周(2025.7.14-2025.7.18)市场回顾 1) 本周(2025.7.14-2025.7.18)计算机（申万）指数上涨 2.12%，延续 上周的上涨态势，涨幅位居前列。本周上证指数上涨 0.69%，深证成 指上涨 2.04%，创业板指上涨 3.17%。 2) 细分板块方面，申万二级行业指数：计算机设备(801101.SL)、IT 服 务Ⅱ(801103.SL)、软件开发(801104.SL)涨跌幅分别为+1.68%、 +2.79%、+1.86%，均有较好的表现。 本周重点公告 1) 品茗科技发布《2025 年半年度业绩预告的自愿性披露公告》：经公 司财务部门初步测算，预计公司 2025 年半年度：实现归属于母公司 所有者扣除非经常性损益后的净利润为 2330.00 万元到 2930.00 万 元，与上年同期相比，将增加 2000.33 万元至 2 ...

中银国际证券股份有限公司 具备证券投资咨询业务资格 策略研究 证券分析师：王君 (8610)66229061 jun.wang@bocichina.com 证券投资咨询业务证书编号：S1300519060003 证券分析师：徐沛东 (8621)20328702 peidong.xu@bocichina.com 证券投资咨询业务证书编号：S1300518020001 证券分析师：郭晓希 (8610)66229019 xiaoxi.guo@bocichina.com 证券投资咨询业务证书编号：S1300521110001 证券分析师：徐亚 (8621)20328506 ya.xu@bocichina.com 证券投资咨询业务证书编号：S1300521070003 证券分析师：高天然 tianran.gao@bocichina.com 证券投资咨询业务证书编号：S1300522100001 $$\frac{\lambda_{1}\lambda_{2}}{\lambda_{1}^{2}}\Re\left[\frac{\pi}{\lambda_{2}}\right]\frac{1}{\lambda_{1}}\Re$$ ...

Investment Rating - The report maintains an "Outperform" rating for the media industry [5][41]. Core Viewpoints - The media sector has shown a positive performance with a 3.22% increase, outperforming both the CSI 300 (0.82%) and the ChiNext Index (2.36%) during the week of July 7 to July 13 [12][41]. - The report highlights the ongoing advancements in AI applications and the potential for growth in the gaming, advertising, and film sectors, driven by improving fundamentals and market conditions [4][41]. Summary by Sections Industry Performance - The media industry rose by 3.22% during the week, ranking 6th among all sectors [12][14]. - Notable gainers included Huamei Holdings (47%), Fengshang Culture (22%), and Shining Star Technology (15%) [13][12]. Key Developments - OpenAI announced the upcoming release of GPT-5, which will integrate multiple models into a unified version [2][16]. - The launch of Grok 4 by xAI, with API pricing set at $3 for input and $15 for output per million tokens, marks a significant development in AI technology [2][17]. - The Kimi K2 model, released by Moonlight Dark Company, boasts 1 trillion parameters and excels in various benchmark tests [2][18]. Box Office and Content Performance - The total box office for the week was 575 million yuan, with "Jurassic World: Rebirth" leading at 145 million yuan [19][21]. - Popular TV shows included "Running Man Season 13" and "Singer 2025," while the gaming sector saw "Whiteout Survival" topping the mobile game revenue charts [3][30]. Investment Recommendations - The report suggests focusing on gaming, advertising media, and film sectors, with specific stock recommendations including Kaiying Network, Giant Network, and Bilibili [4][41]. - The report emphasizes the potential of AI applications and IP-driven products, recommending companies like Pop Mart and Zhejiang Digital Culture [4][41].