18 年年报：商誉减值拖累整体业绩。（1）营收增长提速。2018 年，计算机行业的上市公司整体收入增速为19%，同比增长8 个百分点。收入增长提速。（2）净利大幅下滑。2018 年计算机行业整体归母净利润增速为-43%，同比回落70 个百分点；扣非归母净利润增速为-58%，同比回落76 个百分点。我们认为，核心原因是，2018 年计算机行业的上市公司出现大规模商誉减值，对板块整体业绩影响较大。（3）剔除商誉减值大于1 亿的20 家公司后，2018 年计算机行业整体扣非净利同比增长17%；归母净利润同比增长6%。

2018 年板块营收和现金流增长显著，按整体法净利润下滑近38%，主要受Q4 单季度商誉减值达117 亿影响，按中位数法则增长6.3%。2019Q1 净利润改善显著，增长近40%，现金流持续改善，部分由于景气度回暖、政府机构改革导致收入确认递延等因素影响。医疗IT、金融科技、工业互联网板块持续向好。龙头公司整体表现依然优于行业整体平均水平，预计重点关注的行业和35 家公司将有放彩表现。

本周【卫宁健康】涨跌幅-1.69%；【创业慧康】涨跌幅-1.01%；【思创医惠】涨跌幅1.26%；【东华软件】涨跌幅-4.49%；【久远银海】涨跌幅-2.97%；【和仁科技】涨跌幅1.01%；【阿里健康】涨跌幅0.54%；【平安好医生】涨跌幅-4.81%。

Since the inception of civilization, a fire has been both a giver and taker of life. The rapid modernization and exponentially growing population have increased the chances for the loss of valuable life and assets. This has increased the importance of fire safety equipment in modern buildings. According to the NFPA, in 2017, out of 1,319,500 fires cases in the US, 499,000 were building fires, i.e., an increase of about 5% from 2016. In terms of revenue, the global smoke detector market is expected to grow at a CAGR of 7.1% during 2018– 2024.

Primarily, owing to digitalization, the electronic industry has prospered, thereby driving the touchscreen technology across all product ranges, such as smartphones, tablets, laptops, computers, and other devices that are widely used in industries, such as manufacturing, healthcare, defense, etc. • While tablet sales have drained, smartphones sales have witnessed a huge increase over the past few years, owing to increasing internet penetration across all countries

Ninth largest market in the Central & Eastern European (CEE) region. Lowest per capita spending in the CEE region. Market will record a high single-digit CAGR in local currency terms. Other medical devices and diagnostic imaging have the largest market shares. Most requirements are imported, largely from China, Germany and the US. The domestic production sector is weak and undercapitalised. Outdated and largely unreformed Soviet-era health system. Fighting in the eastern part of the country devastated the economy, but the outlook is improving.

The use of headphones can be traced back to the 1880s when they were mainly used for listening to the electric and audio signals. As amplifiers and audio drivers were not invented at that time, their usage to stream music and other digital content was not possible. Rapid advancements in technology, manufacturing, transmission, and portable consumer electronics goods have laid the foundation for innovations in headphones, thereby leading to a wide personal and commercial usage.