大选落地，科技自立正当时-信创工业软件迎历史大潮

Summary of Conference Call Records Industry or Company Involved - The discussion primarily revolves around the technology sector, specifically focusing on new software innovations and public utility software in the context of the U.S.-China relations and domestic policy shifts in China. Core Points and Arguments 1. Market Sentiment and Performance Outlook The sentiment in the technology sector is expected to stabilize and improve as the year progresses, particularly during the longest performance reporting period of the year. The current market conditions are seen as favorable for growth in the technology sector, especially in new software innovations [1][3] 2. Impact of U.S. Policies on Technology Sector The U.S. government's policies under Trump have historically aimed to suppress China's technological advancements, particularly in high-tech sectors. This includes restrictions on investments and technology transfers, which have shaped the competitive landscape [1][2][5][7] 3. Domestic Policy Encouragement China's domestic policies are increasingly advocating for self-reliance in technology, particularly in new software innovations. This includes a focus on AI capabilities, traditional software, and the development of domestic operating systems like HarmonyOS [2][3] 4. Investment Opportunities in New Software Innovations The new software innovation sector is characterized by significant growth potential, with a current market penetration of only 2.4% in computer holdings, indicating substantial room for investment growth compared to previous years [3][10] 5. Historical Context of U.S.-China Technology Relations The call outlines the historical context of U.S. technology strategies, particularly during Trump's administration, which emphasized maintaining U.S. dominance in key technologies such as AI, quantum science, and semiconductors [5][6][7] 6. Market Trends and Performance Metrics The new software innovation index has shown significant growth, with a notable increase from 1000 points in May 2019 to 2800 points in April 2023, reflecting a 178% increase. This indicates a robust recovery and growth trajectory for the sector [9][10] 7. Key Areas of Focus in New Software Innovations The discussion highlights critical areas within new software innovations, including CPU and operating system development, with current domestic CPU localization rates at approximately 30-40% and expected to rise significantly [10][11] 8. Public Utility Software Sector The public utility software sector is seen as lagging in terms of trading activity and growth compared to other technology segments. However, it is expected to benefit from ongoing U.S.-China tensions and the need for domestic alternatives [12][19] 9. Investment Recommendations Specific companies in the EDA (Electronic Design Automation) and CAE (Computer-Aided Engineering) sectors are recommended for investment, including Huada Jiutian, Guangliwei, and HoloV. These companies are positioned to benefit from the ongoing technological shifts and market demands [12][17][19] 10. Future Market Dynamics The call concludes with a positive outlook on the technology sector, emphasizing the potential for significant growth as institutional investors begin to increase their allocations in technology stocks, particularly those with strong fundamentals [20] Other Important but Possibly Overlooked Content - The discussion emphasizes the importance of understanding the historical context of U.S.-China relations and its impact on technology investments. The potential for mergers and acquisitions in the EDA sector is also highlighted, indicating a trend towards consolidation in the industry [16][19] - The call notes that the public utility software sector may present unique opportunities due to its current undervaluation and the expected increase in demand for domestic solutions in light of geopolitical tensions [12][19]