[CITIC Securities: Computer Sector Semi-Annual Reports Gradually Released, AI Computing Power Hardware Remains Highly Prosperous] Golden Finance reports that CITIC Securities' research indicates that the semi-annual reports of the A-share computer sector, combined with overseas model iterations, jointly validate the sustained prosperity of the AI industry chain: On one hand, the performance elasticity of hardware chains such as AI servers and intelligent computing infrastructure stands out, while software and AI application companies are beginning to show operational recovery and revenue realization. On the other hand, overseas models like OpenAI, xAI, and Meta continue to strengthen agents, coding, multimodal capabilities, and office entry points. Model competition is shifting from capability validation to high-frequency scenario implementation, with inference-side computing power consumption, infrastructure investment, and AI application commercialization expected to continue resonating.