华为链催化频出，赋能行业智能化和国产化

Summary of Key Points from the Conference Call Company: Huawei Financial Performance - Huawei achieved a revenue of 427 billion yuan in the first half of 2025, representing a year-on-year growth of 3.95% [3] - Net profit decreased to 37.2 billion yuan, down 32.2% year-on-year, attributed to high R&D investments rather than deterioration in core business [3] R&D Investments and Achievements - R&D expenditure reached nearly 100 billion yuan, accounting for approximately 23% of revenue, marking a historical high [3][4] - Investments focused on building the HarmonyOS ecosystem and AI computing chips [4] - Huawei Cloud launched the Clock Metrics 384 super node, featuring 384 Ascend NPUs and 192 Kunpeng CPUs, achieving a computing power of 300 PFLOPS, capable of training models with 130 billion parameters [4] Core Business Segments - Key performance drivers include consumer business, smart vehicles, and Huawei Cloud [6] - Cumulative sales of the Guangdong Zhixing model exceeded 900,000 units, marking the first profitability for Huawei's automotive business [6] - Huawei Cloud's overall computing power increased by 250% year-on-year, with the number of clients using generative AI computing rising from 321 to 1,714 [6] HarmonyOS Development - HarmonyOS, developed since 2019, plays a crucial role in ensuring the security of the national information technology industry [7] - Over 10,000 people are involved in its development, with total investments in the hundreds of billions of yuan and over 130 million lines of code developed [7] - The HarmonyOS ecosystem conference focused on practical applications and received strong support from industry experts and government leaders [7] Kirin 9020 Chip Highlights - The Kirin 9020 chip, Huawei's new flagship chip, features a self-developed big, medium, and small core design, with a big core frequency of 2.5GHz, medium core frequency of 2.15GHz, and small core frequency of 1.60GHz [8][9] - This chip re-establishes Huawei's position in the global advanced chip market, significantly enhancing performance for Huawei mobile devices [9] Challenges for HarmonyOS - Developing an operating system is complex and requires substantial investment, time, and human resources [11] - Competing with established ecosystems like iOS and Android, which have decades of development, poses significant challenges for HarmonyOS [11] Upcoming Events - The Huawei Connect 2025 conference will be held from September 18 to 20, focusing on "Deeper Industry Intelligence" and showcasing new products and technological breakthroughs [12][13] Industry Insights Policy Support for Electronic Information Manufacturing - The Ministry of Industry and Information Technology and the State Administration for Market Regulation released the "2025-2026 Action Plan for Stable Growth in the Electronic Information Manufacturing Industry," emphasizing support for domestic products and enhancing supply chain security [2][14] Investment Opportunities - Companies involved in computing server integration services, software development, ERP, and digital transformation may see investment opportunities due to Huawei's initiatives and ecosystem partnerships [15]