Foreword
“Semiconductor investment at the end of the year, the winner of it at the end of the year”, “it investment at the end of the year, 21”. The Tianfeng computer team took a clear-cut stand at the beginning of the year and looked at more computers.
Adhering to the “systematic, scientific and ecological in-depth research system” proposed by director Zhao Xiaoguang of Tianfeng Research Institute, focusing on computer and financial it, we have done four aspects since the beginning of the year:
1. In depth research: 85 pages of prospective release and 12 reports update logic
2. Systematic research: ten series of financial it teleconferences were organized in total
3. Industrial chain research: Research on 100 CIOs, including in-depth research on the financial industry
4. Data research: financial IT industry database, a series of which are in progress
Affected by the external situation, the sector has adjusted recently, but we are more optimistic! Take financial it as an example. At present, we are optimistic about the overall outlook of Q1. At the same time, three logics can not be ignored:
1. Underestimated value
2. Apparent performance elasticity
3. High elasticity industry trend
The strongest recommendation must come from the most in-depth research. We specially launched a series of financial IT data research to deeply explore the industrial trend.
Financial information creation data research series 1: Middleware
1. From 2021q4, financial information innovation orders accelerated: according to our statistics on the bidding and winning of Middleware in the financial industry since 2020, we can find that since 2021q4, financial information innovation orders represented by middleware have accelerated, and the number of public bidding per month is significantly higher than before. The financial information innovation pilot in 2021 significantly promoted it localization procurement in the financial industry. With the continuous expansion of the pilot scale, We expect that the procurement scale of financial Xinchuang will continue to increase in 2022.
2. Banks are the main force of middleware procurement made in China in the financial industry: according to the subdivided industries, banks have the largest bidding volume, accounting for 61%, followed by insurance and securities, accounting for 18% and 14% respectively. Considering that the number of banking institutions and the scale of it expenditure are much larger than insurance and securities, we think banks are the main force of financial information innovation.
3. The number of winning bids of Beijing Tongtech Co.Ltd(300379) , Beijing Baolande Software Corporation(688058) accounts for more than 70%, forming a pattern: at present, domestic middleware mainly includes Beijing Tongtech Co.Ltd(300379) , Beijing Baolande Software Corporation(688058) , Kingdee, Zhongchuang, etc. In terms of winning the bid, several manufacturers have orders from the financial industry. The number of winning bids of Beijing Tongtech Co.Ltd(300379) , Beijing Baolande Software Corporation(688058) and Beijing Baolande Software Corporation(688058) is significantly higher than that of other manufacturers, and the total number of winning bids of the two manufacturers accounts for more than 70%. In the Beijing Tongtech Co.Ltd(300379) bid winning project, message oriented middleware accounted for 25%, with an average price of 35000 yuan / set. We believe that the competition pattern of middleware industry has been formed at present, and the advantages of Beijing Tongtech Co.Ltd(300379) , Beijing Baolande Software Corporation(688058) manufacturers are obvious.
Market and sector trend review
Last week, the computer sector did not rise or fall. In the same period, the gem index rose by 1.03%, and the CSI 300 fell by 1.67%. The sector outperformed the market.
Risk tip: the macro-economy is depressed, major changes have taken place in sector policies and major changes have taken place in the international environment.
