【券商聚焦】中信建投:复杂国际形势下科技自立自强重要性凸显 信创软件及工业软件替换已步入深水区

金吾财讯
Oct 13

金吾财讯 | 中信建投发研报指,美国拟加码对华关税,并对关键软件限制出口。复杂国际形势下科技自立自强重要性凸显,信创软件及工业软件替换已步入深水区,党政信创资金落地、行业信创向核心系统逐步替换。AI产业链国产化进程同样提速,升腾CANN开放代码、海光CPU开放互联总线等,推动AI产业链全国产化闭环,实现AI产业安全可控发展。国产工业软件受益替换政策和国际形势变动影响,灯塔工厂在十五五期间的加速落地也将为AI+工业软件及Agent相关厂商带来良好发展机遇。建议关注:1)国产化板块;2)工业软件及智能体板块;3)AI应用相关标的:a)重视国内互联网大厂Capex投资和生态圈玩家,包括国产芯片链企业、isv厂商等。b)Pre-AI的收入率先落地。国内企业数据治理相对海外落后,AI应用落地需要更多前期准备工作。OA+ERP作为集成企业数据的平台入口直接受益。c)部分细分垂直场景AI收入更快。其中创收关注医疗、教育、市场营销侧产品;降本关注AI-coding、多模态生成。d)本地推理逐步起量,利好服务和云厂商。e)推荐关注端侧AI和相关产业链。

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