CITIC Securities: AI contribution increases, profit improvement significant

Guosen Securities research report believes that in the first half of 2025, the computer industry will experience a significant increase in revenue and a significant improvement in net profit. The computing power sector will see high revenue growth driven by factors such as accelerated CAPEX, technological upgrades, and supply improvements; the information creation growth will continue to be prosperous and is expected to accelerate in the second half of the year. The category is also expected to expand into industrial software and other fields. The contribution of AI applications to AI has significantly increased, and profit improvements are significant under cost reduction and efficiency improvement. We expect a turning point in performance. Looking ahead to the second half of 2025, we believe that the contribution of AI to the growth of the computer sector will further increase. Combined with improved fundamentals, cost reduction, and profit growth driven by efficiency improvement, we are optimistic about the opportunities in the new round of market opportunities.