**The work report proposes artificial intelligence +, continues to pay attention to AI investment opportunities, and proposes to carry out "artificial intelligence +" actions to accelerate the development of new quality productivity. This ** work report mentions ten ** tasks in 2024, and we pay attention to the first work as "vigorously promoting the construction of a modern industrial system and accelerating the development of new quality productivity", compared with the second work content of the previous 2023 ** work report "accelerate the construction of a modern industrial system", "accelerate the development of new quality productivity" as a new formulation, the importance is fully highlighted. In terms of the digital economy, the report emphasizes "in-depth promotion of the innovation and development of the digital economy", and compared with the 2023 ** work report "vigorously developing the digital economy" and "deep integration of the digital economy and the real economy", "innovation" is once again highlighted. In terms of specific measures, in addition to formulating policies to support the high-quality development of the digital economy, implementing digital transformation actions in the manufacturing industry, etc., we note that the "artificial intelligence +" action proposed in this work report can be seen that in the national strategy of accelerating the development of new quality productivity, the importance of artificial intelligence as an engine has been enhanced, which is expected to further promote the development of China's AI industry.
The construction of digital infrastructure should be "moderately advanced", and the state attaches great importance to computing power. Computing power is the foundation of the development of the AI industry, and this work report proposes to "build digital infrastructure moderately ahead of time and accelerate the formation of a national integrated computing power system", which shows that the country attaches great importance to the layout of computing infrastructure, which fully reflects the urgency of accelerating the development of the AI industry. In October 2023, the Ministry of Industry and Information Technology and other six departments issued the Action Plan for the High-Quality Development of Computing Infrastructure, proposing that by 2025, the scale of computing power will exceed 300eflops, and the proportion of intelligent computing power will reach 35%. In February 2024, the State-owned Assets Supervision and Administration Commission (SASAC) held a special AI promotion meeting, requiring central enterprises to "put the development of artificial intelligence in the overall work and make overall plans" and "accelerate the construction of a number of intelligent computing centers". According to the "Guidelines for the Innovation and Development of Intelligent Computing Centers" released by the State Information Center, there are currently more than 30 cities in the country that are building or proposing to build intelligent computing centers.
Accelerate the promotion of high-level scientific and technological self-reliance and self-reliance. In terms of science and technology, the first work report emphasizes the need to comprehensively enhance the ability of independent innovation, deploy and implement a number of major scientific and technological projects according to the national strategic needs and industrial development needs, and at the same time promote the collaborative research of key core technologies and strengthen the research of disruptive technologies and cutting-edge technologies. In addition, it is necessary to further strengthen the dominant position of enterprises in scientific and technological innovation, support powerful enterprises to take the lead in major research tasks, and accelerate the formation of a basic system to support comprehensive innovation. In recent years, we have continued to arrange relevant work arrangements around independent innovation, and provided a series of relevant policy support, which continues to demonstrate the country's attention and determination to independent innovation in science and technology, and related industrial chain enterprises are expected to usher in accelerated development.
Investment suggestions: The 2024 ** work report proposes to "accelerate the development of new quality productivity", attaches great importance to the necessity and urgency of the development of artificial intelligence, and proposes to carry out the "artificial intelligence +" action and accelerate the formation of a national integrated computing power system, which is expected to further promote the acceleration of China's AI infrastructure construction and the development of the AI industry. At present, the competition in the field of large models around the world is still fierce, which will continue to improve the overall capability level of large models and improve the multimodal capabilities of large models. Large models require large computing power, and the iterative upgrading of large model algorithms will provide a strong impetus for the growth of the global and Chinese AI computing power market. In the context of the escalation of U.S. semiconductor export controls to China, China's domestic AI chip industry chain will accelerate its maturity, and related AI chip and server manufacturers will benefit deeply. In addition, on the application side, China's domestic large-scale model capabilities continue to upgrade, and the AIGC industry has broad prospects for future development.
In terms of subject matter:
1) In terms of computing power, it is recommended to pay attention to Inspur Information, Sugon, Unisplendour, Digital China, Haiguang Information, Loongson Zhongke, and it is recommended to pay attention to Industrial Fortune Union, Cambrian, Jingjiawei, High-tech Development, Tuowei Information, and iSoftStone; 2) In terms of algorithms, iFLYTEK is recommended; 3) In terms of application scenarios, it is highly recommended to Thunderda, Hang Seng Electronics, Maxvision Technology, Kingsoft Office, and Wondershare Technology, Flush, and Color News; 4) In terms of cybersecurity, Venustech is highly recommended.
High-tech independent innovation has always been a key area of national concern, and support policies and measures are expected to continue to increase, and related industry chain companies will continue to benefit.
Risk Warning: 1) The development of domestic large-scale model algorithms may not be as expected. 2) ** chain risk rises. 3) The application of large-scale model products is lower than expected.