As one of the first teams to recommend the main line of digital RMB investment in the market, we issued a number of industry heavyweight reports such as “how to view the significance of digital RMB” on September 25, 2021 and “how to view the new regulations on payment terminal management” on November 28, continuously emphasizing the high national strategic significance of digital RMB, Progress is expected to continue to exceed expectations. As the “soft bottom” of digital economy, digital RMB is expected to become an important means of internal regulation and external internationalization. Relevant policy support and application scenarios are expected to continue to be implemented, and 2022 will become the first year of digital RMB.
The financial standardization plan has been implemented, and the digital RMB is expected to continue to advance steadily. 1) On February 9, 2022, the four ministries and commissions jointly issued the 14th five year plan for the development of financial standardization, which defined the guiding ideology, basic principles, main objectives, key tasks and safeguard measures for comprehensively promoting the development of financial standardization during the 14th Five Year Plan period, and gave specific tasks around financial management, products and services, digitization, open innovation, supervision and other aspects, The financial market system is expected to be further improved. 2) In order to meet the development trend of the overall financial market, relevant financial institutions may further meet many IT system transformation and upgrading needs with the improvement of development standards. We expect that the general development trend of financial it track will continue to strengthen, and core IT leaders such as payment, banking, asset management and insurance are expected to benefit. 3) Among them, it is worth noting that the plan clearly mentions to steadily promote the development of legal digital currency standard, and the development status of DCEP is stable.
DCEP has a considerable national strategic height, and 2022 will usher in the first year of digital RMB. 1) As early as 2014, the central bank established a special research group on legal digital currency to carry out initial technical reserve and knowledge accumulation. After a three-year reserve period, the impact of currency circle events slowed down in 2017. The concept of “DCEP” was first proposed by Zhou Xiaochuan, then governor of the central bank, at the press conference on the theme of “financial reform and development” at the first session of the 13th National People’s Congress on March 9, 2018. On August 2, 2019, the central bank held a video conference on the work of the second half of 2019, pointing out that the pace of research and development of legal digital currency (DC / EP) should be accelerated in the second half of 2019, and the progress began to accelerate significantly. By the beginning of 2022, the digital RMB app (pilot version) has been officially released and open to the public for download. The Winter Olympic Games has also focused on 355000 scenarios of digital RMB landing, and the pilot public beta may enter the mature stage. 2) At the same time, digital RMB can apply a variety of mechanisms and algorithms, which can record the time, place and whereabouts of currency circulation. It can also carry the function of resource allocation. It has strong national strategic significance and can realize accurate regulation internally, externally or nationalization of RMB. The promotion of DCEP plays a key role in the promotion of the international status of RMB under the global liquidity flood and the competitive environment of large countries. The follow-up promotion process may be accelerated continuously, and 2022 will usher in the first year of digital RMB.
Investment object:
1) payment scenario and wallet manufacturer: Newland Digital Technology Co.Ltd(000997) , Newcapec Electronics Co.Ltd(300248) , Xgd Inc(300130) , Shenzhen Kingdom Sci-Tech.Ltd(600446) (subsidiary rengu Technology), Lakala Payment Co.Ltd(300773) , Guangdong Tecsun Science & Technology Co.Ltd(002908) , etc.
2) it system and terminal manufacturers: Grg Banking Equipment Co.Ltd(002152) , Westone Information Industry Inc(002268) , Shenzhen Sunline Tech Co.Ltd(300348) , Hundsun Technologies Inc(600570) , Global Infotech Co.Ltd(300465) , Northking Information Technology Co.Ltd(002987) , Client Service International Inc(300663) , Yusys Technologies Co.Ltd(300674) etc.
Risk tips: the actual promotion is less than expected, the benefit degree of subdivided companies is less than expected, assumptions and calculations may have error risk and macroeconomic risk
