Investment Rating - The report maintains a "Recommendation" rating for the computer industry, expecting the industry index to rise more than 5% compared to the benchmark index in the next 3-6 months [16]. Core Insights - The report highlights the release of a policy by the National Data Bureau and the Ministry of Industry and Information Technology aimed at enhancing the capabilities of data circulation service institutions by the end of 2029, promoting a more diverse trading form and richer data products and services [2]. - The policy marks a new phase in the market-oriented allocation of data elements, emphasizing the combination of effective markets and proactive government roles, which aligns with the overall positioning of 2026 as the "Year of Data Element Value Release" [2]. - The report identifies that the AI-driven approach will significantly enhance the value of data elements, with both domestic and international companies playing crucial roles in building AI infrastructure [2]. Industry Overview - The computer industry consists of 337 listed companies with a total market capitalization of approximately 61,676.90 billion and a circulating market value of about 55,806.98 billion [2]. - The absolute performance of the industry over the past 12 months is reported at 17.5%, with a relative performance of -3.6% compared to the benchmark index [3]. Investment Suggestions - The report suggests focusing on various segments within the data element industry, including: 1. Data Rights: Companies like People's Daily Online and Xinhua Net 2. Data Aggregation: Deep Sanda, Yihua Lu, Xinghuan Technology, Sanwei Tiandi, and Puyuan Information 3. Data Governance: Hehe Information, Haitai Ruisheng, Haima Data, and Xinghuan Technology 4. Data Operations: Government data (Taiji Co., GuoDian YunTong, YunSai ZhiLian, DeSheng Technology) and industry data (Fubo Group, JiuYuan YinHai, GuoXin Health, ChaoTu Software, ZhongKe XingTu, Daily Interaction, and COSCO Shipping Technology) 5. Data Circulation: ZheShu Culture, Anheng Information, Yihua Lu, and LingDian YouShu 6. Data Entry: Shanghai Steel Union, ZhiChuang Information, and ShengYing Bao 7. Data Security: ShenXinFu, DianKe WangAn, SanWei XinAn, and QiAnXin [2].