Digital economy will transform production function
Firstly, as a new type of production factor, data can provide a positive correlation independent variable D for the overall economic development; Secondly, technological progress and the transformation of production relations will improve total factor productivity a; In addition, the digital economy will promote the transformation of industrial networking and platform, optimize and improve the mode of production organization F, improve productivity, and finally increase Y's production output. Production function: Δ Y=A*F(L,K,T,D…)。
Industrial digitization is the main line of digital economy development
According to the connotation, digital economy can be divided into two aspects: Digital industrialization and industrial digitization. Digital industrialization adds value to the information industry, provides digital products, services and solutions, and provides technical support for industrial digitization. Industrial digitization empowers traditional industries with digital technology, occupies a leading position in the digital economy and contains great potential. It is the main line of the development of digital economy.
Industrial Internet platform is an important carrier of industrial digitization
Industrial Internet platform has the advantages of market information aggregation, product data sharing and resource allocation optimization. It is a natural landing platform and integrator of natural industrial digitization. According to the industrial platform, the penetration rate of Internet industry will rise from 14.7% in 2025 to 25.7% in 2020, which is reflected in the industrial platform.
The landing of industrial Internet platform is expected to be dominated by marketization
At present, Internet enterprises and SaaS enterprises mainly cut into all links of the industrial chain; The traditional manufacturing industry leader links the enterprises in the same industry; The third-party industrial Internet platform links the upstream and downstream of the industry and provides digital transformation schemes. It is suggested to pay attention to the leader of color spinning industry, spinning industry internet platform Huafu Fashion Co.Ltd(002042) , and third-party Industry Internet platform Beijing United Information Technology Co.Ltd(603613) .
Investment suggestions: focus on the digital transformation leading enterprises and third-party industrial Internet platforms
1) Beijing United Information Technology Co.Ltd(603613) : Industry (industry) Internet leader, one of the best practitioners of industry digitization, and the implementation of cloud factory mode deserves attention. It is estimated that the net profit attributable to the parent company in 2021-23 will be 5.73/9.5/16 Billion, with a growth rate of 88.3% / 65.3% / 70%; Maintain "buy" rating
2) Huafu Fashion Co.Ltd(002042) : the color spinning industry is the leader, and the industrial Internet space is broad. It is estimated that the company's net profit attributable to the parent company in 21-23 years will be RMB 6.0/6.5/760 million, maintaining the "buy" rating
Risk tips
The promotion of Beijing United Information Technology Co.Ltd(603613) cloud factory is less than expected, and the growth rate of Beijing United Information Technology Co.Ltd(603613) new customers is less than expected; Huafu Fashion Co.Ltd(002042) the terminal demand is lower than expected; The epidemic situation is repeated.
