Core view
A week ago, the performance of the sector was poor. The sector index fell 9.67% in five trading days, weaker than the main indexes, especially the stock prices of companies with poor performance forecast fell significantly. After sorting out the performance forecasts of 143 companies in the sector (excluding B shares, ST shares and some weakly related stocks), we found that only 44.76% of the company’s net profit growth center was greater than 0. Among the 51 companies that announced the income pre increase range, 18 had a decline in income, and the performance was not ideal. We believe that, on the one hand, this is due to the weak demand of the government and some industries in the post epidemic era. On the other hand, it is also affected by the cancellation of preferential policies such as social security tax relief in 2021.
We continue to believe that the digital economy is likely to become the direction of sustained policy development, and is also expected to become the medium-term main line of the computer sector. On the one hand, digital new infrastructure is an important means of stabilizing the economy and an important basis for shaping new drivers of economic growth; On the other hand, the combination of digital technology and various industries is also an effective means to support the high-quality development of traditional industries and help enterprises in various industries improve quality, reduce cost and increase efficiency. At the same time, the promotion of Xinchuang can also play a good supporting role in ensuring national industrial security.
Industrial digitization is expected to accelerate. Internet, cloud computing, big data, artificial intelligence and other technologies are accelerating the integration with various industries to help customers in downstream industries reduce costs, improve quality and efficiency, and even build a platform and ecological development model. We believe that under the background of accelerating the development of digital economy, the digitization of manufacturing, public utilities and other industries will accelerate, and we are optimistic about the industrial Internet and intelligent enterprises of energy and public utilities.
The leading performance of intelligent vehicles continued to perform well. Two years ago, Thunder Software Technology Co.Ltd(300496) and Huizhou Desay Sv Automotive Co.Ltd(002920) smart car leaders both released performance forecasts that exceeded market expectations, indicating that even if there is a core shortage dilemma, the trend of car intelligence is still strong. During the holiday, new forces such as “Wei Xiaoli” have a good performance, which will also make investors pay more attention to the smart car sector.
The information and innovation industry is expected to usher in a new round of business cycle. The 14th five year plan for promoting national government informatization was issued, which clearly puts forward “accelerating the construction of digital government and improving government service level”. We believe that PC, office software, OA, PC operating system and other fields directly related to front-end business are expected to usher in a new round of development dividends. From the perspective of industry information innovation, financial information innovation will expand in 2022, and domestic middleware, domestic database, domestic server CPU and server operating system have also experienced the practice experience of pilot in key industries in the past two years, which is expected to achieve higher penetration in key industries. On the whole, the whole information and innovation industry is expected to usher in a new round of business cycle.
Investment proposal and investment object
Industry digitalization direction: recommend the leader of digital procurement Beijing United Information Technology Co.Ltd(603613) (603613, buy), the leader of intelligent water affairs Zhejiang Heda Technology Co.Ltd(688296) (688296, buy), the leader of intelligent heating Runa Smart Equipment Co.Ltd(301129) (301129, not rated), the leader of ERP Yonyou Network Technology Co.Ltd(600588) (600588, buy), the participant of intelligent coal mine Hefei Gocom Information Technology Co.Ltd(688367) (688367, not rated), and the power information manufacturer Ygsoft Inc(002063) (002063, not rated).
Smart car sector: it is recommended that Thunder Software Technology Co.Ltd(300496) (300496, buy), which is moving from the automotive aftermarket to Autel Intelligent Technology Corp.Ltd(688208) (688208, buy) in the field of new energy and intelligence.
It is suggested to pay attention to leading enterprises in various sub sectors of Xinchuang: domestic server machines and CPU related: Dawning Information Industry Co.Ltd(603019) (603019, bought), Digital China Group Co.Ltd(000034) (000034, not rated); OA system: Shanghai Weaver Network Co.Ltd(603039) (603039, not rated), Beijing Seeyon Internet Software Corp(688369) (688369, not rated); Domestic middleware: Beijing Tongtech Co.Ltd(300379) (300379, not rated), Beijing Baolande Software Corporation(688058) (688058, not rated); Domestic database: Beijing Vastdata Technology Co.Ltd(603138) (603138, not rated); Financial information creation integrator and banking software platform: Digital China Information Service Company Ltd(000555) (000555, buy), Shenzhen Sunline Tech Co.Ltd(300348) (300348, not rated).
Cloud Computing: it mainly recommends digital office leader Beijing Kingsoft Office Software Inc(688111) (688111, overweight), and it is recommended to pay attention to Beijing Shiji Information Technology Co.Ltd(002153) (002153, not rated), Glodon Company Limited(002410) (002410, not rated).
Risk tips
The implementation of policies is less than expected, the progress of automobile intellectualization is less than expected, and the progress of R & D is less than expected.
