Event: on February 17, 2022, according to Xinhua news agency, the national development and Reform Commission, the central network information office, the Ministry of industry and information technology and the National Energy Administration recently jointly issued a document agreeing to start the construction of National Computing hub nodes in Beijing, Tianjin and Hebei, the Yangtze River Delta, Guangdong, Hong Kong and Macao Dawan District, Chengdu and Chongqing, Inner Mongolia, Guizhou, Gansu and Ningxia, Zhangjiakou cluster and other 10 national data center clusters are planned. So far, the overall layout design of the national integrated big data center system has been completed, and the "counting from the east to the west" project has been officially launched.
The project of "counting from the east to the west" was officially launched, and the data center ushered in the stage of 20% + high growth. 1) In terms of development background, a new round of scientific and technological revolution and industrial reform are reshaping the global economic structure, and computing power is the core productivity of the digital economy. According to the report of the national development and Reform Commission, with the comprehensive and continuous penetration of digital technology into all fields of economy and society, the demand for computing power in the whole society is still very urgent, and it is expected to grow rapidly at a rate of more than 20% every year. However, at present, most of China's data centers are located in the eastern region. Due to the increasing shortage of land, energy and other resources, it is difficult to sustain the large-scale development of data centers in the eastern region; Western China is rich in resources, especially renewable energy, and has the potential to develop data centers and undertake the computing power needs of the East. To this end, China should give full play to its institutional advantages and improve the efficiency of resource allocation from the perspective of national integration. 2) In terms of data distribution, according to the report of the national development and Reform Commission, the western data center handles businesses with low network requirements, such as background processing, offline analysis, storage and backup; The eastern hub handles businesses with high network requirements, such as industrial Internet, financial securities, disaster early warning, telemedicine, video call, artificial intelligence reasoning and so on. 3) In terms of development significance, the implementation of the "counting from the east to the west" project, promoting the rational layout of data centers, optimizing supply and demand, green intensification and interconnection, has many meanings: first, it is conducive to improving the overall computing power level of the country. Through the layout and construction of the national integrated data center, expand the scale of computing facilities, improve the efficiency of computing power, and realize the large-scale and intensive development of computing power in the country. Second, it is conducive to promoting green development. Increasing the layout of the data center in the West will greatly increase the proportion of green energy use, absorb green energy in the West nearby, and continuously optimize the energy use efficiency of the data center through technological innovation, large for small, low-carbon development and other measures. Third, it is conducive to expanding effective investment. The data center has a long industrial chain, large investment scale and strong driving effect. Through the construction of computing hub and data center cluster, it will effectively drive the upstream and downstream investment of the industry. Fourth, it is conducive to promoting coordinated regional development. Through the layout of computing facilities from east to west, it will drive the effective transfer of relevant industries, promote the data circulation and value transmission between the East and the west, extend the development space in the East, promote the western development and form a new pattern. The digital economy continues to enjoy great benefits, and its strategic position and promotion speed are unprecedented. 1) On January 12, 2022, the State Council issued the notice of the 14th five year plan for the development of digital economy. By 2025, the added value of China's core industries of digital economy should increase from 7.8% to 10% of GDP; On January 15, Qiushi published an article Xi Jinping General Secretary: constantly strengthening, optimizing and expanding China's digital economy. The two top-level documents confirm that China's strategic position of digital economy has reached an unprecedented height and is expected to become an important starting point for high-quality and stable economic growth and development. 2) The master plan of "computing from the east to the west" also focuses on the overall planning and layout of China's computing power. We expect that the new infrastructure of digital economy is expected to continue to be implemented. For enterprises providing computing power, it can accelerate the realization of cloud network collaboration, improve the service quality of computing power, reduce the cost of network power and other costs, plan computing resources more targeted and improve the efficiency of resource use; For enterprises using computing power, they can enjoy more convenient and easy-to-use computing power services, further reduce the cost of cloud usage and accelerate the realization of digital transformation.
Investment object:
It infrastructure: Dawning Information Industry Co.Ltd(603019) , Inspur Electronic Information Industry Co.Ltd(000977) , Shanghai Baosight Software Co.Ltd(600845) , Beijing E-Hualu Information Technology Co.Ltd(300212) , Unisplendour Corporation Limited(000938) and other data applications: Beijing Vastdata Technology Co.Ltd(603138) , Westone Information Industry Inc(002268)
Industrial Digitization: Longshine Technology Group Co.Ltd(300682) , Iflytek Co.Ltd(002230) , Hangzhou Hikvision Digital Technology Co.Ltd(002415) , Beijing Kingsoft Office Software Inc(688111) , Glodon Company Limited(002410) , Beijing Shiji Information Technology Co.Ltd(002153) , Guangzhou Sie Consulting Co.Ltd(300687) , Beijing United Information Technology Co.Ltd(603613) etc
Risk warning: policy promotion is not as expected; Financial expenditure is lower than expected; Macroeconomic risk
