1、 The merger, reorganization and landing of Ziguang group: it is determined that Zhilu construction and broadcasting consortium is the war investor. Companies under Ziguang group such as Unisplendour Corporation Limited(000938) , Unigroup Guoxin Microelectronics Co.Ltd(002049) announced that they had received the notice on the free transfer of equity of Tsinghua Holdings Co., Ltd. by Tsinghua University forwarded by the indirect controlling shareholder Ziguang group. Tsinghua University, the investor of Tsinghua Holdings Co., Ltd., signed the agreement on free transfer of state-owned property rights with Sichuan energy investment on December 10, 2021, and plans to transfer 100% of the equity of Tsinghua holdings to Sichuan energy investment through free transfer. For this transfer, it needs to be approved by the Ministry of education, Sichuan energy investment needs to be approved by Sichuan SASAC, and needs to pass the business concentration review of this transfer by the Anti-monopoly Bureau.
On November 19, 2021, the creditors’ meeting of seven enterprises including Ziguang group was held again, and the topic of the meeting was to check the creditor’s rights table in writing. As of November 19, among the 56.55 billion yuan of claims declared, the amount of claims preliminarily confirmed by the manager was 34.51 billion yuan, the amount of claims deferred was 19.74 billion yuan, and another 2.3 billion yuan was not confirmed. If the creditor’s rights confirmed at the first creditor’s meeting were 108.1 billion, the total amount of creditor’s rights confirmed is about 142.6 billion. On December 10, 2021, Ziguang group determined that the consortium composed of Beijing Zhilu Asset Management Co., Ltd. and Beijing Jianguang Asset Management Co., Ltd. as the lead party was the strategic investor for the substantive merger and reorganization of seven enterprises such as Ziguang group.
We believe that the implementation of the asset restructuring has little impact on Unigroup Guoxin Microelectronics Co.Ltd(002049) . The equity penetration of Jianguang assets is state-owned assets. Zhilu capital is a global professional equity investment institution, focusing on semiconductor core technology and other emerging high-end technologies. The strategic investor of the group is state-owned assets, which is more concentrated than Shanghai + Zhejiang SASAC judged by the original market, and the management efficiency is improved. At the same time, Zhilu’s experience in M & A and capital operation in the semiconductor field helps the group become bigger and stronger. With the gradual implementation of reorganization, the group’s high-quality assets will usher in new resources. It is recommended to focus on the group’s high-quality assets: Unigroup Guoxin Microelectronics Co.Ltd(002049) , Unisplendour Corporation Limited(000938) .
2、 Q3 global cellular Internet of things module shipments increased by 70% year-on-year. Counterpoint recently released the latest research report on the global cellular Internet of things module chip. In 2021q3, the global shipments of cellular Internet of things modules increased by 70% year-on-year, and the overall revenue exceeded the US $1.5 billion mark. Due to the low base, 5g module shipments increased by 700% year-on-year, Quectel Wireless Solutions Co.Ltd(603236) and Qualcomm led the global cellular Internet of things module and chipset market respectively, and Nb IOT contributed more than one-third of the cellular Internet of things module market. In the global cellular Internet of things module market, the top five module manufacturers in 2021q3 are all from China. Benefiting from the huge growth of Nb IOT and 4gcat1 modules, Quectel Wireless Solutions Co.Ltd(603236) cellular IOT module shipments increased by nearly 80% year-on-year, accounting for 31.6%. Fibocom Wireless Inc(300638) maintains the second position in the global cellular Internet of things module market. The strong demand for NB IOT modules helped its module shipments increase by 84% year-on-year, accounting for 9.6%. China Mobile’s total shipments tripled year-on-year, accounting for 6.2%. Sunsea Aiot Technology Co.Ltd(002313) and Meig Smart Technology Co.Ltd(002881) ranked fourth and fifth with a share of 6.1% and 5.4% respectively.
In the cellular Internet of things chip market, Qualcomm ranks first with a market share of 37.2% and the world’s second largest cellular Internet of things chip manufacturer. Ziguang zhanrui surpasses Qualcomm to become the leader in the 4gcat1 market, with Ziguang zhanrui’s second share of 26.8% and Hisilicon’s third share of 13.7%. Due to the transfer of the market to cheaper nb-iot and 4gcat-1 modules in this quarter, the ASP of the whole cellular Internet of things module decreased by 3% continuously. However, due to tight supply, ASP of 4gcat4 + and 5g IOT modules increased. We believe that the prosperity of the IOT module industry remains high, with an industry growth of 70%. With the gradual promotion of the Internet of things, the shipment of module manufacturers is still expected to maintain a rapid growth. It is suggested to pay attention to: Quectel Wireless Solutions Co.Ltd(603236) , Fibocom Wireless Inc(300638) , Meig Smart Technology Co.Ltd(002881) .
3、 China United Network Communications Limited(600050) released the white paper on quantum communication technology in the cloud age. China United Network Communications Limited(600050) the white paper on quantum communication technology in the cloud era was officially released at the 2021 partners conference science and Technology Innovation Summit Forum, which discussed the impact of quantum communication technology on traditional information and communication technology and the integrated development and application of the two for the first time in the industry. The white paper was jointly written by China United Network Communications Limited(600050) Research Institute and partners such as Jiangsu Hengtong Wentian quantum, Anhui Wentian quantum, Shanghai circulating quantum technology and Fiberhome Telecommunication Technologies Co.Ltd(600498) . Based on the research and analysis of the development and pilot application of quantum communication technology, the white paper puts forward the open integrated quantum communication network architecture and technical standards based on all-optical network base from the perspective of operators. The architecture takes the lead in adopting both discrete variable quantum key distribution (dv-qkd) and continuous variable quantum key distribution in the physical layer (cv-qkd) technology is used for hybrid networking, and the interworking test is completed in Beijing xiong’an quantum trunk line. The key technologies in quantum communication networking are analyzed, and the development direction of integration, standardization and low cost of quantum communication technology is pointed out. We think this event will contribute to the application of quantum communication in future communication networks. We suggest to pay attention to: Quantumctek Co.Ltd(688027) .
Industry highlights
1. 31 bid sections of China Mobile’s 26.6 billion yuan equipment installation results: 21 won the bid
The “China Mobile 2022-2023 centralized procurement project for equipment installation and communication engineering construction services” of 45 professional companies and provinces that have attracted much attention has announced the bid winning results of 13 professional companies yesterday.
Judging from the bid winning situation of 12 professional companies and 11 provinces, so far, there are 21 bid winning enterprises in 12 professional companies and 11 provinces, but most of the shares have been taken away by China mobile construction, which is undoubtedly the first winner. At present, China mobile construction has obtained a total of 25 bid sections from 20 professional companies and provinces, The bid winning amount is about 552.0130 yuan (excluding tax); followed by Zhejiang post and Telecommunications Engineering, which has won the share of 7 bid sections from 6 professional companies and provinces, and the bid winning amount is 70.9537 million yuan (excluding tax); at present, the third enterprise is Zhongtong Second Bureau, which has won the share of 6 bid sections from 5 professional companies and provinces.
2. Dr.Peng Telecom&Media Group Co.Ltd(600804) : plcn submarine cable has not obtained an operation license or sold relevant assets
The Pacific Securities Co.Ltd(601099) submarine optical cable project (plcn) is a submarine optical cable directly connecting Hong Kong, China and Los Angeles, the United States, built by PLD holding limited, a subsidiary of Dr.Peng Telecom&Media Group Co.Ltd(600804) . Plcn submarine cable is a 6-pair system, of which 4 pairs are Dr.Peng Telecom&Media Group Co.Ltd(600804) All, the other two are owned by Google and Facebook. However, the U.S. authorities pushed the plan of putting plcn submarine cable into use again and again on the grounds of national security. The total investment of plcn submarine cable is expected to be about US $460 million. Affected by the Sino US trade dispute, it is temporarily unable to obtain the US operation license. Plcn submarine cable project does have a large impairment risk. However, due to its scarcity and lack of comparable similar assets, asset sales and other related matters are still in the early stage of negotiation, so it is impossible to accurately estimate the impairment amount of submarine cable project in the third quarter report of 2021.
3. The International Telecommunication Union approved lorawan as the global Internet of things standard
Recently, the Lora alliance, which is committed to promoting the lorawan standard in the low-power wide area network (lpwan) of the Internet of things, said that the International Telecommunication Union (ITU) has approved Lora as the international standard of the Internet of things. More than 155 major mobile network operators around the world have deployed lorawan standard, which can be used in more than 170 countries, and the number continues to expand. Lorawan is technically flexible and can handle a wide variety of IOT applications, including fixed and mobile applications.
Recommended combination
Recommended this week: 5g construction leader [ Zte Corporation(000063) ]; US sanctions upgrade domestic substitution acceleration and warming of super SIM card sales [ Unigroup Guoxin Microelectronics Co.Ltd(002049) ]; Benefiting from the rapid growth of intelligent controller industry [ Shenzhen Topband Co.Ltd(002139) ]; Fast and large-scale [ Fibocom Wireless Inc(300638) ] and [ Meig Smart Technology Co.Ltd(002881) ] of IOT module; Beidou industry solution leader [ Shanghai Huace Navigation Technology Ltd(300627) ]; Benefit from the explosion of energy storage and charging charges [ Longshine Technology Group Co.Ltd(300682) ].
Long term recommendation: 5g main equipment and infrastructure: Zte Corporation(000063) , China iron tower; Optical modules: Suzhou Tfc Optical Communication Co.Ltd(300394) , Zhongji Innolight Co.Ltd(300308) , Eoptolink Technology Inc.Ltd(300502) , Accelink Technologies Co.Ltd(002281) , Broadex Technologies Co.Ltd(300548) ; Radio frequency: Guangdong Shenglu Telecommunication Tech.Co.Ltd(002446) ; Benefit flow explosion: Fujian Star-Net Communication Co.Ltd(002396) , New Guomai Digital Culture Co.Ltd(600640) , Wangsu Science & Technology Co.Ltd(300017) ; Internet of things: Quectel Wireless Solutions Co.Ltd(603236) , Fibocom Wireless Inc(300638) , Meig Smart Technology Co.Ltd(002881) , Hanwei Electronics Group Corporation(300007) , Queclink Wireless Solutions Co.Ltd(300590) . IDC direction: Beijing Sinnet Technology Co.Ltd(300383) , Shanghai Athub Co.Ltd(603881) , Shanghai Baosight Software Co.Ltd(600845) , Guangdong Aofei Data Technology Co.Ltd(300738) ; 5g messages: Montnets Cloud Technology Group Co.Ltd(002123) , Zjbc Information Technology Co.Ltd(000889) , Wutong Holding Group Co.Ltd(300292) ; Industrial Internet: Business-Intelligence Of Oriental Nations Corporation Ltd(300166) ; Intelligent controller: Shenzhen H&T Intelligent Control Co.Ltd(002402) , Shenzhen Topband Co.Ltd(002139) . Energy storage is related to new energy: Jiangsu Zhongtian Technology Co.Ltd(600522) , Hengtong Optic-Electric Co.Ltd(600487) , Kehua Data Co.Ltd(002335) , Longshine Technology Group Co.Ltd(300682) .
Risk statement
(1) Systemic risk caused by the unexpected decline of the market;
(2) Focus on the uncertainty risk of promoting relevant matters of the company.
