Industry core view:
Last week, the CSI 300 index fell 0.67%, the Shenwan computer industry fell 0.64%, outperforming the index by 0.03pct, ranking 16th in the Shenwan level industry. We believe that the medium and long-term positive trend of the market remains unchanged. We recommend investors to pay attention to high-quality targets with strong performance certainty, and recommend high-profile segments such as industrial Internet, industrial software, information innovation, intelligent driving and network security.
Key investment points:
The AITO M5 of the new harmonyos intelligent cockpit Chongqing Sokon Industry Group Stock Co.Ltd(601127) was officially released: Huawei and the brand joined hands to build intelligent electric vehicles, successfully applied its ability in the ICT field to the automotive field, and fully enabled the intelligence of vehicles. The landing of harmonyos in the application scenario of automobile will also greatly enrich its ecology. By realizing the connection with mobile phones, smart speakers, smart screens, etc. and sharing the application of mobile phone ecology, it can greatly improve the interactivity and playability of locomotive and locomotive, which is an important step in building a super terminal for the interconnection of all things.
The National Medical Insurance Bureau officially launched the three-year action plan for DRG / Dip payment reform: the previously released 14th five year plan for medical insurance has proposed that DRG and single disease payment account for 70% by 2025. The action plan launched this time emphasizes accelerating the progress, and the reform indicators have been implemented to medical institutions. Both DRG and dip are essentially based on a large amount of data and use information tools to assist management and decision-making. For medical institutions, DRG puts forward high requirements for hospital information management systems, such as data collection, data analysis and information management. The construction and transformation of information has become a rigid demand, and medical information companies are expected to benefit.
The industry valuation was higher than the historical center, and the industry attention decreased: the average trading volume last Sunday was 59.132 billion yuan, and the trading activity decreased. From the perspective of valuation, PE (TTM) of SW computer industry has been adjusted to 44.18 times, 50.91 times higher than the historical average from 2010 to 2021.
Last week, the performance of the computer sector was divided: 81 stocks rose, 211 stocks fell, and 1 stock was flat. The number of rising stocks accounted for 27.65%.
Investment suggestion: with the new infrastructure as the core, accelerate the process of cloud, intelligence and digitization of enterprises. It is recommended that investors pay attention to high-quality targets with strong performance certainty under the high-profile plate. From the market and valuation of 2021q1-q3, the valuation of the computer industry has rebounded at the bottom. From the configuration of fund positions in 2021q3, the configuration of the computer industry is still low. From the performance of 2021q1-q3, artificial intelligence, information innovation, construction informatization, cloud computing and other fields perform well. It is recommended to focus on the changes of company orders and capital expenditure in relevant fields. We mainly recommend the fields of industrial Internet, industrial software, information innovation, intelligent driving and network security.
Risk factors: global geopolitical risk, technology promotion fails to meet expectations, and Industry IT capital expenditure is lower than expected.
