Meig Smart Technology Co.Ltd(002881) (002881)
Event: on November 23, Meig Smart Technology Co.Ltd(002881) said on the investor interaction platform that according to the interpretation article of Xinhua news agency, the development of the concept of meta universe is inseparable from the support of new technologies such as arvr, 5g, cloud computing, AI and big data.
Metauniverse drives the demand for technical support such as cloud computing and big data, and 5g and AR / VR may usher in new opportunities: on November 19, Xinhua News Agency issued a document decoding metauniverse, pointing out that as the expansion of real technology, metauniverse needs to integrate AR, VR, big data, artificial intelligence and other technologies to provide immersive experience. At the same time, as the mirror image of the real world generated by digital twin technology, the requirements for computing power and visual image continue to improve, which will drive the collaboration of computing power, AI and interactive technology with the support of underlying technologies such as Internet of things and blockchain.
High computing power module helps the development of new business forms, focusing on digital transformation and the all-round development of smart IOT: Meig Smart Technology Co.Ltd(002881) deeply cultivate the field of intelligent modules, and the differentiated services of intelligent modules + customized solutions have won wide praise in the market. In June 2021, Meig Smart Technology Co.Ltd(002881) launched the world's first 5g intelligent module based on Qualcomm 5gsocqcm6490 platform. The CPU level was steadily improved, the maximum core frequency was increased to 2.7ghz, the GPU was upgraded to adreno642l, the AI computing power exceeded 14tops, increased the support of wi-fi6e, and the life cycle was extended to 2028. Meig Smart Technology Co.Ltd(002881) 4G and 5g high computing power intelligent modules can provide stable and high-speed network links and intelligent tasks and image processing capabilities based on CPU / GPU for the development of relevant new business formats, continuously help the digitization and intelligent transformation and upgrading of various industries, and effectively support the development of meta universe's demand for new technologies such as AR, VR, artificial intelligence and big data.
With the rapid development of the global Internet of things, Meig Smart Technology Co.Ltd(002881) prospectively layout the intelligent network connected vehicle business: with the expansion of 5g commercial scale, the Internet of things industry will further develop, and the global 5g module shipment will achieve rapid growth. The company continues to expand the application of 5g modules in smart retail, intelligent network connected vehicles and other fields. At present, the company is a leading enterprise providing vehicle modules and vehicle terminals in the industry. Meig Smart Technology Co.Ltd(002881) actively grasp the digital and intelligent trend of the Internet of things industry, and deeply cultivate the research and development of intelligent module products. Module products have good applications in Ar / VR, intelligent networking, edge computing, cloud computing, AI, digital economy and other fields; At the same time, the company insists on taking customers as the center, continues to deepen cooperation with existing customers, continues to expand the scope of customer groups, and continues to stabilize and develop the market foundation.
Profit forecast and investment rating: with the steady growth of industry demand, the leading edge of Meig Smart Technology Co.Ltd(002881) product technology continues to be maintained. We maintain the company's net profit attributable to the parent company from 2021 to 2023 to be RMB 122 / 205 / 371 million respectively, corresponding to the EPS forecast of RMB 0.66/1.11/2.01 from 2021 to 2023, and the PE valuation corresponding to the current market value is 80 / 48 / 26 times. Considering the continuous development of the company's 4G, 5g and other high computing modules and new business formats such as intelligent network connected vehicles, the operating efficiency has been steadily improved and the "buy" rating has been maintained.
Risk tip: the development of Internet of things industry is not as expected; The risk of industry competition intensifies; The risk of chip shortage is increasing.
