CITIC Securities: The computer sector's performance continued to improve in the first half of the year, and we are optimistic about investment opportunities in AI software and hardware, as well as information technology creation () sectors.

CITIC Securities Research Report stated that domestic AI applications are benefiting from the acceleration of industry development and technological evolution, with dozens of companies reporting positive progress in the implementation of AI applications in their mid-year reports. Currently, domestic AI applications are in the stage of accelerated penetration, with faster implementation focused on the areas of enterprise management, industrial manufacturing, and marketing. Overall, the outlook for AI application revenue for leading companies in various sectors is positive, and the proportion of AI application revenue for the whole year is expected to exceed double-digit levels. With the assistance of AI-related businesses, downstream customers can reduce costs and increase efficiency, leading to a slight increase in unit price. At the same time, AI application companies can reduce development costs through internal AI empowerment, which together can promote the increase in AI business gross profit margin and potentially improve and optimize the profitability of companies in the sector. Investment advice: The performance of the computer sector in the first half of 2025 is expected to continue to improve. Opportunities for investment are seen in AI software & hardware, information creation, stable coins, and other sectors.