The more intensive policy landing at the end of the year may bring heat to the main lines such as data elements and computing power, and by the beginning of next year, the market will pay more attention to the performance expectations of listed companies.

data element industry catalysis and landing is worth looking forward to: yesterday the national development and Reform Commission released the "data elements x" three-year action plan (2024-2026) "draft for comments, to promote data elements in manufacturing, agriculture, commerce, transportation, finance, medical and other 12 industry scene end landing. And listed companies are also stepping up cooperation with local data groups, such as Yin Zhijie recently signed a strategic cooperation agreement with Qingdao public data operators. We believe that under the policy, the industry landing is expected to speed up, and investors will be more concerned.

The digital infrastructure industry deserves attention: computing power has become the new basic energy source after coal, oil and electricity, and the factorization of data has greatly increased the demand for data storage and computing. We believe that the digital infrastructure, which is composed of computing power, storage capacity and transport capacity, will usher in policy-driven and accelerated development in the future, and related investment opportunities are worthy of attention.

in the field of computing power, we recommend paying attention to domestic computing power and computing power scheduling, computing power fusion related targets.

multimodal large model has made rapid progress and has broad application space in the future: Google has officially released Gemini's native multimodal large model, which has performed amazingly in various ability tests. We believe that on the one hand, the multimodal large model is conducive to the formation of more lively and interactive applications such as pictures and videos, thus contributing to the birth of C- end explosions. On the other hand, multimodal large models can truly break through the barriers between the physical world and the digital world, use the most basic ability to perceive the world to directly generate operations to achieve the most natural interaction with the physical world, thus providing strong support for breakthroughs in the field of physical intelligence such as autonomous driving and humanoid robots.

data element plate, it is recommended to pay attention to yinzhijie (300085, unrated), radio and television express (002152, unrated), zhongke Jiangnan (301153, unrated), long yinhai (002777, unrated), Shanghai steel union (300226, overweight), pass treasure (301339, unrated), daily interaction (300766, unrated), deep sangda a (000032, unrated), Yunsai Zhilian (600602, unrated), Sanwei Tiandi (301159, unrated), Zhongke Soft (603927, unrated), Yi Hualu (300212, unrated), Shanda Diwei (688579, unrated), Commodity City (600415, unrated) and other

digital infrastructure fields, it is recommended to pay attention to Zhongke Shuguang (603019, buy), Haoguang Information (688041, Buy), High Development (000628, Unrated), Yakang Shares (301085, Unrated), Zhonghe Technology (000925, Unrated), Sturge (300608, Unrated), Capital Online (300846, Unrated), Copper Bull Information (300895, Unrated), Youkende-W(688158, Unrated), etc? Large model upgrade and industrialization accelerated, AI plate is expected to usher in the new year market. In the application field, it is suggested to pay attention to Jinshan Office (688111, overweight), Hongsoft Technology (688088, unrated), HKUST Xunfei (002230, buy), Zhongke Chuangda (300496, buy), Caixun Stock (300634, unrated), Xinzhi Software (688590, unrated), Wanxing Technology (300624, unrated), Pan Micro Network (603039, buy), Zhiyuan Internet (688369, unrated) and so on

Other: It is recommended to pay attention to the far-light software (002063, buy), aerospace macro (688066, buy), Guolian shares (603613, buy) and so on

risk tips

related policies fall short of the expected risk; Related technologies fall short of the expected risk.