Market review:
Last week, the computer (Shenwan) index rose 1.25%, outperforming the Shanghai and Shenzhen 300 index by 0.17%.
It ranks 15th in Shenwan industry. Among the secondary sub industries (Shenwan), computer equipment increased by 0.68%, it services increased by 2.37% and software development increased by 0.82%.
Investment suggestions:
Digitization: digital computing in the East and digital computing in the West drives ICT infrastructure investment, with emphasis on SHENSANGDA, Dawning Information Industry Co.Ltd(603019) , Inspur Electronic Information Industry Co.Ltd(000977) and so on
Recently, the national development and Reform Commission, the central network information office, the Ministry of industry and information technology and the National Energy Administration jointly issued a notice, agreeing to start the construction of National Computing hub nodes in 8 places, including Beijing, Tianjin and Hebei, the Yangtze River Delta, Guangdong, Hong Kong, Macao, Dawan District, Chengdu and Chongqing, Inner Mongolia, Guizhou, Gansu and Ningxia, and planned 10 national data center clusters. 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 so-called “East number West calculation”, “number” refers to data, “calculation” refers to computing power, that is, the processing capacity of data. As the core productivity of the development of digital economy, computing power is an important infrastructure of national economic development. “Computing in the East and computing in the west” is to guide the computing demand in the east to the West in an orderly manner, optimize the construction layout of the data center and promote the collaborative linkage between the East and the west by building a new computing network system integrating data center, cloud computing and big data. At present, the rapid development of digital economy, the wide range of radiation and the deep degree of influence are unprecedented. It is becoming a key force to restructure global factor resources, reshape the global economic structure and change the global competition pattern. Accelerate the construction of computing power, accelerate the process of digital industrialization and industrial digitization, and support high-quality economic development. According to the previous construction scale estimation of National Supercomputing Center / AI computing center, each national data center cluster is expected to invest billions to tens of billions of yuan, which will bring hundreds of billions of infrastructure investment.
SHENSANGDA, Dawning Information Industry Co.Ltd(603019) , Inspur Electronic Information Industry Co.Ltd(000977) are recommended. Among them, East digital West computing is mainly to strengthen the construction of the western data center to solve the pressure of the eastern data center. We believe that the supply side of West computing is easy to be built first under the promotion of policies, but the demand side is difficult to start. The initial demand must be driven by policies. Therefore, we judge that the government, state-owned enterprises and central enterprises will take the lead in moving background processing, offline analysis For the storage of backup and other required contents, the target customers of SHENSANGDA are the government, state-owned enterprises and central enterprises, which will benefit from it. At the basic hardware level, including servers, storage and other hardware equipment will also benefit significantly, and its Chinese made hardware will benefit more. We mainly recommend the server and storage targets Dawning Information Industry Co.Ltd(603019) , Inspur Electronic Information Industry Co.Ltd(000977) .
Localization: China Mobile announced the centralized purchase of domestic servers, and Kunpeng servers accounted for nearly 20%. This year’s shipment of Kunpeng is expected to exceed expectations. On February 17, China Mobile announced the bid winning results of package 8 and package 13 of the first batch of PC server centralized purchase projects from 2021 to 2022. Six companies were shortlisted, including Changjiang computing, Digital China Group Co.Ltd(000034) , Huanghe technology, Tsinghua Tongfang Co.Ltd(600100) , Baode computer and Xiangjiang Kunpeng. This time, China Mobile will purchase the first batch of PC servers from 2021 to 2022. Package 8 will purchase 28112 balanced servers and package 13 will purchase 3775 storage servers. Both packages are Kunpeng servers, with a cumulative total of 31887. This time, China Mobile will purchase about 163692 PC servers in the first batch of centralized purchase of PC servers from 2021 to 2022. The procurement demand satisfaction period is about half a year, and the project is divided into 16 bid packages. Therefore, we can calculate that Kunpeng server accounts for about 19.48%.
Previously, on November 16, 2021, China Mobile announced the bid winning results of package 3, package 7, package 11 and package 12, Inspur Electronic Information Industry Co.Ltd(000977) , Ziguang Huashan technology, Zhongke controllable and Zte Corporation(000063) , with a total of about 17164 units, all of which are haiguang chip servers, accounting for 10.49% of the overall bidding volume.
To sum up, in the first batch of server centralized purchase projects of China Mobile from 2021 to 2022, Kunpeng + haiguang servers have accumulated more than 49000, and the proportion of domestic CPU servers has reached 30%. Judging from the winning bid of Kunpeng server, we believe that the supply and shipment of Kunpeng server this year is expected to exceed market expectations.
Judging from the bidding situation, Kunpeng calculated that the bid price of Digital China Group Co.Ltd(000034) in package 8 was 2.373 billion yuan, with a winning share of 22.22%, and the total amount reached 527 million yuan; Talkweb Information System Co.Ltd(002261) Xiangjiang Kunpeng, a holding subsidiary, offered a bid price of 209 million yuan in package 13, with a winning share of 50% and a total amount of 104 million yuan.
Focus on Digital China Group Co.Ltd(000034) , Talkweb Information System Co.Ltd(002261) of Kunpeng computing ecology, and Dawning Information Industry Co.Ltd(603019) of haiguang chip and the whole machine.
Medical it: the reply of the National Health Commission reiterated the importance it attaches to the construction of medical big data such as electronic medical records and interconnection. In the reply to the recommendation No. 10294 of the fourth session of the 13th National People’s Congress (hereinafter referred to as the reply), which was recently published on the official website of the National Health Commission, it was mentioned that the National Health Commission was studying the establishment of a national unified electronic health record, electronic medical records, drugs and devices Public health, medical services, medical insurance and other information standard systems, and gradually realize interconnection, information sharing and business collaboration. This reply is a reaffirmation of the 14th five year plan, which further explains that the next three years will be a key node for the centralized improvement of China’s medical informatization level. Based on electronic medical records and interconnection, we will comprehensively promote the informatization of Chinese hospitals and public health, and promote the development of clinical research through medical big data.
In this reply, we believe that there are three core points: 1) the focus is on the establishment of the information standard system. On the one hand, the electronic medical record standard may be further refined and deepened, and on the other hand, the unified information standard between the electronic medical record and the electronic health standard, public health, medical services and other different fields. Therefore, we believe that with the refinement and deepening of the standard, It will benefit the product sales of head companies with strong R & D ability and promote the improvement of industry concentration; 2) Connectivity is the focus and core foothold of follow-up medical IT construction. We believe that according to the current level of medical it and the current situation of China’s industry, it is difficult and costly to carry out unified construction from the implementation end. Therefore, the “unified” standard is still to lay the foundation for data exchange and data flow inside and outside the hospital, so as to realize information sharing and business collaboration; 3) The attention of medical big data continues to increase. On the one hand, it is how to protect personal medical data, on the other hand, it is how to use medical data to promote the development of clinical industry. We believe that the construction speed of follow-up hospital and regional medical data centers will be accelerated.
From the “thousand counties project”, “dip / DRG three-year action plan” to the reply to this Q & A, we can see that the state pays attention to the construction of medical informatization. We believe that the budget investment in 22 years will not decline. We suggest paying attention to B-Soft Co.Ltd(300451) (double benefit hospital and public health information construction), Sichuan Jiuyuan Yinhai Software Co.Ltd(002777) (leading medical insurance information construction), Jiahe Meikang (leading electronic medical record with high proportion of tertiary hospital customers), Winning Health Technology Group Co.Ltd(300253) (leading medical information industry), and Yidu Technology (HK, participating in the construction of data centers of many head hospitals).
Smart cars: Xiaopeng G9 expects the Beijing auto show to open pre-sale and deliver in the third quarter, and the annual sales volume is expected to reach 35000. Xiaopeng G9 expects the Beijing auto show to open pre-sale and deliver in the third quarter, and the annual sales volume is expected to reach 35000. It is fully equipped with a domain controller of dual Orin platform, and 23h1 will realize the full scene auxiliary driving function. According to The Pacific Securities Co.Ltd(601099) auto.com, Xiaopeng G9, the first flagship pure electric SUV of Xiaopeng automobile, will be pre sold at the Beijing auto show in April 2022 and delivered in the third quarter (the end of August at the earliest). Xiaopeng officials expect the annual sales of G9 to reach 35000 units. Xiaopeng G9 will be built based on x-eea 3.0 electronic and electrical architecture and support xpilot 4.0 intelligent assisted driving system. Xpilot 4.0 intelligent assisted driving system adopts two NVIDIA Orin chips with computing power up to 508tops, and will support full scene intelligent assisted driving online in 2023h1 to support assisted driving in the city, It can also realize higher-level automatic driving function in the future.
This week’s portfolio
Cloud computing / Digitization: SHENSANGDA, Yonyou Network Technology Co.Ltd(600588) , Shanghai Weaver Network Co.Ltd(603039) , Beijing Seeyon Internet Software Corp(688369) , Mingyuan cloud, Kingdee International, Glodon Company Limited(002410) , Beijing Kingsoft Office Software Inc(688111) localization: Ninestar Corporation(002180) , Beijing Tongtech Co.Ltd(300379) , Dawning Information Industry Co.Ltd(603019) , Zhongfu Information Inc(300659) financial it: Hundsun Technologies Inc(600570) , Yusys Technologies Co.Ltd(300674) , Global Infotech Co.Ltd(300465) , Digital China Information Service Company Ltd(000555) , Tansun Technology Co.Ltd(300872) , Shenzhen Sunline Tech Co.Ltd(300348) smart car and AI: Thunder Software Technology Co.Ltd(300496) , Huizhou Desay Sv Automotive Co.Ltd(002920) , Iflytek Co.Ltd(002230) network security: Qi An Xin Technology Group Inc(688561) , Venustech Group Inc(002439) , Dbappsecurity Co.Ltd(688023) Topsec Technologies Group Inc(002212) medical it: Winning Health Technology Group Co.Ltd(300253) , B-Soft Co.Ltd(300451)
Risk tips
The overall fundamentals of the industry recovered lower than expected
