Huawei's first large-code model project standard has been approved, and AI+low-code is expected to usher in explosive growth
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According to reports, the international standard project "Technical Requirements and Evaluation Methods for Code Generation Based on Artificial Intelligence", led by the China Academy of Information and Communications Technology and jointly proposed by Huawei Cloud and other industry-university-research institutions, has been successfully approved. The project puts forward full-stack technical and management requirements for the code model from the dimensions of input diversity, task diversity, language completeness, result acceptability, and result accuracy, and is the first standard project of the code model in the world.
According to HUAWEI CLOUD, the successful establishment of the international standard project will help promote the global recognition and consensus on the overall technical framework of the code model, improve the capabilities of the code model, and promote the standardized application of the code model.
The large code model with the blessing of AI can significantly lower the development threshold and improve the efficiency of program development, which is of great significance to technology giants to reduce costs and increase efficiency. Gartner's Top 10 Strategic Technology Trends for 2024 states that by 2028, 75% of enterprise software engineers will use AI programming assistants. In the future, the AI+ low-code platform is expected to become the core development model in the future and usher in explosive growth.
$Jin Hyundai (SZ300830)$ The proprietary large model in the low-code field built based on large language models has completed internal testing, which can realize the automatic generation of data models and the automatic construction of forms.
$Hotwon(SZ300448)$ The company's low-code development platform has passed the second batch of low-code general capability evaluation of the China Academy of Information and Communications Technology, and is researching, testing and training the open-source multi-modal artificial intelligence model by combining the existing low-code smart Internet of Things data platform and GMind big data platform.
【Investment Focus】
> the second batch of Apple VisionPro national sales are imminent, pay attention to the opportunities of related industry chain companies
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Apple is reportedly preparing to start selling the VisionPro, a mixed reality headset outside the U.S., to see if the $3,499 device has broader appeal. VisionPro's market may expand to China, Japan, France and Germany. Hundreds of international retail store employees from these countries flew to Apple's headquarters in Cupertino, California, last week for a four-day in-person training on how to demonstrate VisionPro to customers. The exact launch date of VisionPro in the international market has not yet been announced, but it is expected to expand to other countries after the Worldwide Developers Conference (WWDC) in June of this year.
VisionPro hardware experience 3D immersive viewing, spatial video effects are shocking, the game ecology is not rich enough, but some applications have begun to take shape of spatial computing, which is expected to break through the boundaries of previous VR applications and bring a new ecological change to XR. According to the expectation of the industry chain, the second-generation MR is expected to be launched at the end of 2025 or early 2026, with the cost reduction of MicroOLED and other links, the price is expected to drop by 30%-50%. In A-shares, you can pay attention to $Wufang Optoelectronics (SZ002962)$, $Yashi Optoelectronics (SZ002952)$, etc.
Coal prices have accelerated, and the dual logic of high dividends and cyclical flexibility has been highlighted
According to the analysis of the open source securities research report, from a fundamental point of view, the good trend of coal prices remains unchanged: the closing price of Qingang Q5500 is quoted at 860 yuan, up 2.7% month-on-month and expanding; The spot price of main coking coal in Jingtang Port was 2,240 yuan/ton, up 3.2% month-on-month and expanding; Among them, the coal power industry chain has improved: the port has replenished at a low level, and the daily consumption of power plants has risen sharply year-on-year; The metallurgical industry chain continues to improve: the average daily output of molten iron has risen month-on-month for many weeks, the operating rate of independent coking plants and steel mills and coking coal inventories are on the rise, and the steel inventory has been greatly destocked, indicating that the production demand and the demand for active replenishment are increasing, and the mainland's steel exports from January to April increased by 27% year-on-year, and the steel export demand is still booming, and it can be inferred that the "thermal coal for metallurgical heating" in non-thermal coal is also rebounding (positively correlated with the average daily output of molten iron). On April 30, the Political Bureau of the Central Committee of the Communist Party of China held a meeting, which involved fiscal policy, monetary policy, real estate, and carbon peaking, and the policy of stabilizing growth is expected to improve the marginal demand for coal, and the phased mismatch of coal in the process of energy transition will still exist, which is expected to support coal prices.
According to the research report of GF Securities, the prices of thermal coal and coking coal have continued to rise recently. In the near future, we will focus on domestic policies: safety in the mining field is still the key regulatory object, and the safety production month will be ushered in in June, and the output of the coal industry in the second quarter of previous years is not high; Summary of the first quarterly report of the annual report: the operation will be stable in 2023, the volume and price will fall in the first quarter of 2024, and the profit may stabilize in the later period; Domestic supply and demand: domestic supply continues to be low, and demand is expected to improve; International supply and demand: In 2024, the demand for emerging markets will improve, and the increase in supply will mainly come from India, Indonesia and Mongolia.
Kaiyuan Securities' multi-dimensional selection of coal stocks will receive excess returns:
First, the elastic target of coking coal, it is recommended [Pingmei Shares, Lu'an Huaneng, Huaibei Mining, Shanxi Coking Coal], which has cyclical attributes and benefits from the bottom of the price rebound;
The second is the elastic target of thermal coal, which is recommended [Yankuang Energy, Jinkong Coal Industry, Guanghui Energy], which accounts for a large proportion of spot coal and is expected to benefit from the price rebound at the bottom;
The third is the stable income target of thermal coal, which recommends [China Shenhua] and the beneficiary target [Shaanxi Coal Industry], with a large proportion of annual long-term agreements and a stable and sustainable dividend yield;
Fourth, the integration of thermal coal and coal power and high dividend option targets, [Xinji Energy] is recommended, desensitizing coal prices in the future to achieve higher performance stability, and is expected to obtain high dividends after the end of capital expenditure.
【Exclusive Reference】
> Zhongpet shares: the company's high-end brand has strong growth in major developed countries
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$Zhongpet Co., Ltd. (SZ002891)$ said in an institutional survey that the company has confidence in the growth of gross profit margin, whether it is overseas business or domestic business. In the domestic business, with the increase in the proportion of the company's high-margin products, the increase in the proportion of direct channels, the increase in the proportion of independent brands, the improvement of factory capacity utilization, and the continuous optimization of product structure, the gross profit of the domestic business is expected to achieve further growth.
The company has actively laid out its own brand overseas business. At present, the independent brand "Wanpy Naughty", "New Zealand ZEAL Zhenzhi", "GREAT JACK'S" and so on are sold to 61 countries and regions around the world, while the high-end brand "New Zealand ZEAL Zhenzhi" has strong growth in major developed countries such as the United States, Canada, New Zealand, Australia, etc., and the mid-to-high-end brand "Wanpy Naughty" has a wide audience in both developed and developing countries.
> Hengshuai shares: The variety of motors required for humanoid robots will become a new growth point for the company
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$Hengshuai Co., Ltd. (SZ300969)$ said in an institutional survey that the company is one of the earliest domestic enterprises to develop automotive washing system products, and has established good cooperative relations with many well-known OEMs and world-renowned multinational auto parts suppliers. Compared with the traditional cleaning system, the active sensing cleaning system products are suitable for the future high-level autonomous driving field, the ADAS system has a large number of sensors, and the points that need to be cleaned will be much more than the traditional cleaning system, so the related product structure will be more complex and precise, and the value will be higher.
The company has developed more motor varieties in the field of four doors and two covers, which is one of the main growth points of the company's future performance, and the tailgate motor is the company's first breakthrough in the field of motors A motor variety, with a relatively large proportion of revenue, and has successively developed other large customers, and related business growth is relatively fast. The company attaches great importance to the industrial chain opportunities of humanoid robots, and by matching the harmonic magnetic field motor technology with the customized needs of motor varieties required by humanoid robots (such as frameless torque motors, coreless motors, etc.), related industrial opportunities are expected to open up a new incremental space for the company and become the third largest growth curve for the company in the future.
【Financial News】
> Ministry of Commerce: Actively support the central region to accelerate the construction of open platforms such as the China-Africa Economic and Trade In-depth Cooperation Pilot Zone and the Pilot Free Trade Zone.
> State Railway Administration: In April, the national railway passenger volume increased by 9.6% year-on-year.
> China Mutual Finance Association: Promote the in-depth development of digitalization and intelligence of Internet finance.
> Passenger Car Association: The pickup truck market sold 44,000 units in April, a year-on-year increase of 4.4%.
>SEMI: The global semiconductor manufacturing industry improved in the first quarter, and China's production capacity growth rate was the highest.
> copper price rose to a two-year high, with Citi on track to reach US$10,500 a tonne in the near term.
> Shanghai has introduced 22 measures to further deepen the development of the integration of medical care and elderly care in elderly care institutions.
【Announcement Gold Rush】
>$Guolian Securities (SH601456)$ intends to purchase 100% of the shares of Minsheng Securities, and will resume trading tomorrow.
>$Beijing Lier (SZ002392)$ A wholly-owned subsidiary intends to sell 147 million shares of Minsheng Securities held by it to Guolian Securities, and use these shares to subscribe for A shares issued by Guolian Securities.
>$Shanghai Electromechanical (SH600835)$ plans to acquire 100% equity interest in Shanghai Jiyou.
>$Fosun Pharma (SH600196)$ A holding subsidiary signed an agreement on capital increase and share expansion.
>$China Railway Construction (SH601186)$ won the bid for a number of major projects, with a total project amount of 61.154 billion yuan.
>$Weihai Guangtai (SZ002111)$ won the bid for a special customer fire truck project of 375 million yuan, accounting for 15.6% of the audited operating income in 2023.
>$Jilin Chemical Fiber (SZ000420)$ The actual controller is to be changed from Jilin SASAC to Jilin SASAC.
>$Tonghua Dongbao (SH600867)$ Phase I clinical trial of insulin degludec liraglutide injection completed the first patient dosing.
>$Huafu Fashion (SZ002042)$ A wholly-owned subsidiary signed a confirmation letter of computing power service with e Cloud Technology.
【Dragon and Tiger Stands】
> funds flowed into sectors such as civil explosives and games
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On Tuesday, the market fluctuated in a narrow range throughout the day, with all three major indexes falling slightly. At the close, the Shanghai Composite Index fell 0.07% to 3,145.77 points, the Shenzhen Component Index fell 0.05% to 9,668.73 points, and the ChiNext Index fell 0.26% to 1,855.60 points. The total turnover of the two cities was 824.6 billion yuan, a decrease of 85.2 billion yuan from the previous trading day. On the disk, civil explosives, games, automobiles, household light industry and other sectors were among the top gainers, while cell immunotherapy, coal, synthetic biology, glyphosate and other sectors were among the top decliners.
The data of the after-hours Dragon and Tiger list shows that:
$Tom Cat (SZ300459)$ was bought by institutional funds, with a total net purchase amount of 321 million yuan;
$Northern Copper (SZ000737)$ was bought by institutional funds, with a total net purchase of 92.9961 million yuan;
$Baichuan shares (SZ002455)$ were bought by the strength of the capital, with a total net purchase of 65.3698 million yuan;
$Rhine Biotech (SZ002166)$ was bought by Power Tour, with a total net purchase amount of 59.5755 million yuan;
$Liansheng Chemical (SZ301212)$ was bought by institutional funds, with a total net purchase of 49.7366 million yuan.