Key investment points:
Market review and Valuation: this week (12 / 06-12 / 12) Shenwan computer industry rose 0.03%, underperforming CSI 300 index by 3.11 percentage points, ranking 19th among Shenwan 28 industries; Shenwan computer sector fell 0.61% in December, underperforming CSI 300 index by 5.22 percentage points, ranking 24th among Shenwan 28 industries; Shenwan computer sector has fallen 0.86% since the beginning of the year, outperforming CSI 300 index by 2.14 percentage points Shenwan ranks 19th among 28 industries.
Industry news: 1. From December 8 to 10, the central economic work conference was held in Beijing. The meeting proposed to speed up the digital transformation and promote the upgrading of traditional industries. We should implement the three-year action plan for the reform of the scientific and technological system and formulate a ten-year plan for the implementation of basic research. Strengthen national strategic scientific and technological forces, give full play to the role of national laboratories, reorganize national key laboratories, and promote the reform of scientific research institutes. Strengthen the dominant position of enterprise innovation and deepen the combination of industry, University and research. Improve and optimize the ecology of scientific and technological innovation and form a solid scientific research style. Continue to carry out international scientific and technological cooperation. 2. The national development and Reform Commission and other four departments issued the implementation plan for implementing the requirements of carbon peak carbon neutralization goal and promoting the green and high-quality development of new infrastructure such as data center and 5g. It is proposed that by 2025, the data center and 5g will basically form a green and intensive integrated operation pattern. 3. Baidu announced that it will release the meta universe product “xirang” on December 27, and the baidu AI developer conference in the same period will be held in xirang app. 4. On Tuesday local time, Amazon cloud computing service (AWS) went down, which made users unable to use prime video and other services, and caused confusion in the delivery of Amazon e-commerce business and package accumulation. At the same time, several websites using Amazon cloud services were also affected, including coinbase, Robinhood, Disney and Netflix.
Zhou viewpoint: Recently, we released the investment strategy for the first half of 2022 in the computer industry. Looking forward to next year, we suggest to grasp the development opportunities of China’s digitization and pay attention to the fields with high prosperity and growth certainty. In the medium and long term, SaaS penetration increases and upstream servers recover in the short term, Focus on Inspur Electronic Information Industry Co.Ltd(000977) (000977), Shanghai Baosight Software Co.Ltd(600845) (600845), Glodon Company Limited(002410) (002410), Beijing Kingsoft Office Software Inc(688111) (688111), Yonyou Network Technology Co.Ltd(600588) (600588), etc. artificial intelligence enables enterprises to reduce costs and increase efficiency. The scenes of automatic driving and education continue to deepen, and the potential market is huge. Focus on Iflytek Co.Ltd(002230) (002230), Zhejiang Dahua Technology Co.Ltd(002236) (002236), Hangzhou Hikvision Digital Technology Co.Ltd(002415) (002415), etc. securities it benefits from the release of dividends from capital market reform, and the incremental space is expected. It pays attention to Hundsun Technologies Inc(600570) (600570), etc. there are frequent favorable policies for network security, and the demand in emerging security markets is increasing. It pays attention to Qi An Xin Technology Group Inc(688561) – u (688561), Venustech Group Inc(002439) (002439), Nsfocus Technologies Group Co.Ltd(300369) (300369), etc.
Risk tips: policy changes; Macroeconomic fluctuations affect the demand for downstream products; Technology advancement is less than expected; Intensified industry competition, etc.
