Important trends in the industry this week:
The project of “counting from the east to the west” was officially launched (official website of the national development and Reform Commission)
Several ministries and commissions jointly issued a notice and approved the cluster planning of 8 hub nodes and 10 data centers, and the project of “counting East and calculating West” was officially launched. Driven by the demand growth of more than 20% of the computing power of the whole society, the western region will gradually undertake more computing power and the eastern region will carry more services with high network performance requirements in the future, forming a layout of “computing from the east to the west”. Local specific plans are gradually implemented. For example, Shaoguan cluster plans to build 500000 standard racks and 5 million servers by 2025, with an investment of more than 50 billion yuan, which is expected to drive the rapid development of the whole industrial chain.
Zhejiang implemented the “scenery doubling” project and built several million kilowatt offshore wind power bases (Polaris network). The Zhejiang government issued the implementation opinions on fully, accurately and comprehensively implementing the new development concept and doing a good job in carbon peak and carbon neutralization, implemented the “scenery doubling” project, promoted the photovoltaic construction of the whole county and built several million kilowatt offshore wind power bases. Accelerate the construction of energy storage facilities and encourage the integration of “source network load storage” and other applications. We will continue to increase the proportion of clean energy delivered by the built UHV channel and fully promote the construction of the fourth UHV DC channel to Zhejiang.
Investment view this week:
The market rebounded this week. The performance growth of high-quality targets in the communication industry is outstanding, the valuation is low, and the long-term configuration value is prominent. Looking forward to the whole year, focus on the high boom track and the low / undervalued value + reversal logic target. Key focus: applications in subdivided fields such as communication + energy storage / new energy, Internet of things / Internet of vehicles, cloud computing and industrial Internet have entered the stage of accelerated development, and the growth logic is clear. In the medium and long term, we will continue to pay attention to high boom segments with strong performance certainty. It is suggested to pay attention to: Internet of things / smart car, optical fiber cable / submarine cable, military communication, main equipment, video conference, IDC, operators, etc
I. 5g network:
1. Main equipment supplier: key recommendation: Zte Corporation(000063) ;
2. Optical fiber and optical cable: key recommendations: Jiangsu Zhongtian Technology Co.Ltd(600522) (the marine and new energy sectors have full potential, and the business cycle of optical fiber and optical cable is opened), Hengtong Optic-Electric Co.Ltd(600487) (dual drive of marine + optical fiber and optical cable), Jiangsu Etern Company Limited(600105) (optical communication recovers, and the automobile harness opens the incremental space). It is suggested to pay attention to: Yangtze Optical Fibre And Cable Joint Stock Limited Company(601869) (the volume and price of optical fiber and optical cable rise simultaneously);
3. Optical module & optical device: Zhongji Innolight Co.Ltd(300308) (global digital communication optical module leader), Eoptolink Technology Inc.Ltd(300502) , Suzhou Tfc Optical Communication Co.Ltd(300394) , Accelink Technologies Co.Ltd(002281) , Broadex Technologies Co.Ltd(300548) , Advanced Fiber Resources (Zhuhai) Ltd(300620) , Hebei Sinopack Electronic Technology Co.Ltd(003031) , T&S Communications Co.Ltd(300570) , Cig Shanghai Co.Ltd(603083) ;
II. 5g application end (Automotive intelligence, etc.):
1. Internet of things / Internet of vehicles: key recommendations: Skyworth Digital Co.Ltd(000810) (Intelligent cockpit + metauniverse VR, combined coverage of household appliances), Shenzhen Topband Co.Ltd(002139) (intelligent controller + energy storage), Fibocom Wireless Inc(300638) , Hanwei Electronics Group Corporation(300007) (combined coverage of machinery), Queclink Wireless Solutions Co.Ltd(300590) , Quectel Wireless Solutions Co.Ltd(603236) , Willfar Information Technology Co.Ltd(688100) (combined coverage of machinery), Meig Smart Technology Co.Ltd(002881) , Cubic Sensor And Instrument Co.Ltd(688665) (combined coverage of machinery); It is suggested to pay attention to: Huagong Tech Company Limited(000988) (on-board sensing capacity), Shenzhen Neoway Technology Co.Ltd(688159) , Beijing Inhand Networks Technology Co.Ltd(688080) , Wenzhou Yihua Connector Co.Ltd(002897) (vehicle connector + photovoltaic), Dongguan Dingtong Precision Metal Co.Ltd(688668) , Suzhou Recodeal Interconnect System Co.Ltd(688800) , Hangzhou Hopechart Iot Technology Co.Ltd(688288) ;
2. Online office / video conference: key recommendations: Yealink Network Technology Co.Ltd(300628) (UC terminal solution leader, continuous improvement of product matrix), Fujian Star-Net Communication Co.Ltd(002396) (cloud office / cloud desktop, video conference), Montnets Cloud Technology Group Co.Ltd(002123) (rich media SMS leader), Bizconf Telecom Co.Ltd(300578) (video conference software and hardware layout), etc;
3. Operators: China Mobile, China Telecom Corporation Limited(601728) , China United Network Communications Limited(600050) ;
III. communication + energy:
1. Sea breeze submarine cable: Jiangsu Zhongtian Technology Co.Ltd(600522) (the potential of ocean and new energy sector is full, and the business cycle of optical fiber and cable is started), Hengtong Optic-Electric Co.Ltd(600487) (sea breeze + optical fiber and cable dual drive);
2. IDC: key recommendations: Kehua Data Co.Ltd(002335) (joint coverage of power and new technology), Runjian Co.Ltd(002929) (leading private communication network management and maintenance, key breakthroughs in photovoltaic operation and maintenance), Beijing Sinnet Technology Co.Ltd(300383) . It is suggested to pay attention to: Unisplendour Corporation Limited(000938) , Shenzhen Envicool Technology Co.Ltd(002837) , Guangdong Aofei Data Technology Co.Ltd(300738) , Beijing Highlander Digital Technology Co.Ltd(300065) (UDC), Shanghai Athub Co.Ltd(603881) ;
IV. military communication & Beidou: communication is a serious weakness in the field of national defense informatization. The penetration rate of ultrashort wave and area width can be improved. It is suggested to pay attention to: Guangzhou Haige Communications Group Incorporated Company(002465) , Tianjin 712 Communication & Broadcasting Co.Ltd(603712) , Jushri Technologies Inc(300762) , Shanghai Huace Navigation Technology Ltd(300627) ;
V. digital RMB: with the continuous promotion of digital RMB, large-scale application can be expected in the future. It is suggested to pay attention to: Chutian Dragon Co.Ltd(003040) , Eastcompeace Technology Co.Ltd(002017) .
Risk warning: the impact of the epidemic, the progress of 5g industry and commerce are lower than expected, the speed of downstream application recommendation is lower than expected, and the risk of trade war is uncertain.
