the "data element x" plan landed, and the trillion blue ocean was fully opened. on December 15, the national development and reform Commission publicly solicited opinions from the public on the "data element x" three-year action plan (2024-2026) (draft for comments) (hereinafter referred to as the "plan"). As the first policy after the official establishment of the National Data Bureau, the Plan aims to work from both sides of supply and demand, focusing on improving the quality of supply, opening up circulation barriers, and strengthening the traction of scene demand, promote the release of the value of data elements in industries such as intelligent manufacturing, smart agriculture, commercial circulation, transportation, financial services, technological innovation, cultural tourism, medical health, emergency management, meteorological services, smart cities, and green and low-carbon. The Plan clearly proposes to create more than 300 typical application scenarios with strong demonstration, high display and wide driving force; cultivate a group of data providers and third-party professional service institutions with strong innovation ability and great market influence; the average annual growth rate of the data industry exceeds 20%, the scale of data transactions has doubled, and the scale of on-market transactions has increased significantly. The Plan outlines the overall framework for the value, model and scenario of the data elements of the twelve key industries, and points out the direction for how to play the multiplier effect of the data elements. In addition, the "Plan" emphasizes the importance of guarantee support and organization and implementation. In particular, it proposes to strengthen investment support within the central budget and implement the "Data Element X" pilot project, which will promote the development of data elements. We believe that with the continuous strengthening of the country's top-level driving force and the gradual introduction of relevant policies, relevant standards, guidelines, norms and other detailed rules and systems, as well as pilot demonstrations or will be fully pushed forward, the development of data elements will be expected to move from "system breaking" to "industrial practice" as a whole, accelerating into a new stage of "political and industrial co-drive. It is suggested to focus on: Taiji Stock (002368.SZ), Shanghai Steel Union (300226.SZ), Radio and Television Express (002152.SZ), Hypergraph Software (300036.SZ), Kechuang Information (300730.SZ), Puyuan Information (688188.SH), Jinqiao Information (603918.SH), Tiandi Jihong Stock (002803.SZ), SH15830.

Google Gemini big model release, computing power demand upgrade

On December 6, Google released the big language model Gemini for benchmarking GPT-4.

Gemini 1.0 is a native multi-modal build, is divided into Ultra, Pro and Nano three versions, of which Ultra is used to deal with highly complex tasks of the strongest, the largest model, Pro is used to expand the best model for a variety of tasks, Nano is used for mobile phones and other devices the most efficient model. Google is expected to launch "BardAdvanced" early next year and plans to use the most powerful version of Gemini, Ultra. In addition, the Gemini model is trained with massive amounts of data to recognize and understand text, images, audio, code, and more. At the same time, Google launched the TPU system-CloudTPU v5p. The new generation of TPU will accelerate the development of Gemini, greatly reduce the time investment related to training large language models, and help developers and enterprise customers train large-scale generative AI models faster. At present, the fierce competition of global giants for multimodal AI will continue to improve the overall capability level of large models, and the application scenarios and boundaries of large models will be further evolved. With the gradual improvement of China's general artificial intelligence industry policy and the continuous upgrading of domestic large models, it will bring about the continuous upgrading of computing power demand and the expansion of AI application scenarios. Recommendations to focus on: Jinqiao Information (603918.SH), HKUST (002230.SZ), Jing Jiawei (300474.SZ).

National Data Bureau intensive voice, public data is still the "most focus" in the near future, the top of the data elements continue to exert force, the National Data Bureau intensive voice. On December 8, at the opening ceremony of the second Digital Government Construction Summit, Liu Liehong, director of the National Data Bureau, said that the National Data Bureau will vigorously promote the development and utilization of public data resources, accelerate the reform of data market-oriented allocation, and comprehensively improve the level of data resource development and utilization., Let public data "supply" flow "and" use well ". The director said that the next step will focus on six aspects, including the property rights separation system, data infrastructure, "data element X" action, enterprise authorized use mode, number business cultivation, and core technology innovation. In addition, the work related to the authorized operation of public data in local cities is in full swing. On December 7, the Anhui Provincial Data Resources Administration issued the "Administrative Measures for the Authorized Operation of Public Data in Anhui Province (Trial) (Draft for Comment)" and its drafting instructions. The next day, the Beijing Municipal Bureau of Economy and Information Technology issued the "Beijing Public Data Zone Authorized Operation Management Measures (Trial)."

with the national and local full force, public data authorization operation as an important breakthrough in the development of the data element market, or will enter the full outbreak stage. The key links involved in the operation of public data authorization, such as governance, authorization, operation, construction and implementation, development and utilization, and circulation, are about to usher in major development opportunities. Recommendations focus on: Taiji shares (002368.SZ), Radio and Television Express (002152.SZ), hypergraph software (300036.SZ).

Kirin software won the bid in a row, and Xinchuang showed signs of recovery

Accelerating the high-quality development of Xinchuang is the only way for China to achieve scientific and technological self-reliance. China attaches great importance to the development of Xinchuang, and the recovery of Xinchuang in the industry has begun to show signs. Kirin Software, a subsidiary of China Software, won the exclusive bid for 60000 sets of domestic desktop operating systems of China Communications Group on August 3 and over 60000 sets of server operating systems of China Post Group on July 27, respectively, releasing positive signals for accelerating the promotion of Xinchuang industry. It is recommended to pay attention to the leading manufacturers with Xincheng as the core: Taiji shares (002368.SZ), Great Wall of China (000066.SZ) and so on.

AI + justice opens up new applications, and legal technology opens up room for growth. AI-driven revolution is automating mental work. justice, as one of the most important fields, can improve lawyers' work efficiency, reduce risks and speed up decision-making. it is more likely to help rather than replace lawyers in the short term, but it has been used for contract review, contract analysis and data search, and legal research, even drafting contracts, predicting legal outcomes, sentencing or bail recommendations, etc. With the Supreme People's Court putting forward the guiding ideology of multi-resolution and source governance, artificial intelligence is expected to empower the whole process of financial legal dispute resolution from mediation to enforcement. For the pre-litigation process, the element filing system reduces the workload of litigation preparation through a standardized process, which provides the possibility to improve the efficiency of litigation filing. It is recommended to pay attention to the leading manufacturer with "AI plus court" as the core: Jinqiao Information (603918.SH).

Seize the strategic opportunity, the growth of digital RMB can be expected

The development of digital RMB is an important national strategy, and the digital RMB has been written into the country's "14th Five-Year Plan" as an important part of the digital economy. In 2020, the People's Bank of China will take the lead in opening the digital RMB pilot work in the world, and the Ministry of Commerce, the National Development and Reform Commission and other ministries and commissions have issued several documents to speed up the promotion of the digital RMB pilot. The launch of the digital RMB means that China will usher in a new era of digital payment. At the same time, the application of digital RMB is mainly based on small high-frequency life scenes, which helps to drive consumption. Recommendations focus on: Lakala (300773.SZ), New Capital (300130.SZ).

strong demand for network security traction, business security to build a solid "firewall"

in recent years, the digital scene to multi-field extension, the digital economy era prelude to open, the government, enterprises of all kinds of subjects on the demand for data security is increasingly strong. While data resources give birth to new opportunities, they also bring new hidden dangers. Traditional network security protection ideas and measures can not meet the current data security protection needs, in order to prevent data leakage, data tampering and other events, password-based encryption technology will provide information security for digital scenes in the context of "big secrecy. China's commercial password industry will be innovation-led, to achieve independent control of password products software and hardware comprehensive domestic replacement, leading the password industry into the fast lane.

Risk Tips

Macroeconomic risks, risks of increased market competition, risks of policy falling short of expectations, and uncertainties in matters related to the Company's advancement.