Main points:
Again, the digital economy plays an important role and lays out the construction of Digital China in an all-round way
On March 5, Premier Li Keqiang proposed in the government work report: promote the development of digital economy and strengthen the overall layout of Digital China construction. After the 14th five digit economic development plan, the mention of digital economy further demonstrates the great importance attached to this national plan and the all-round deployment of key areas of all factor digital transformation and key force. The report points out: 1) build digital information infrastructure, promote 5g large-scale application, promote industrial digital transformation, and develop smart city and digital village. 2) Accelerate the development of industrial Internet, cultivate and expand digital industries such as integrated circuits and artificial intelligence, and improve the innovation and supply capacity of key software and hardware technologies. 3) Improve the governance of digital economy, release the potential of data elements, and better enable economic development and enrich people’s lives. We believe that in the future, it is expected to achieve a high degree of coordination among regions, comprehensively layout the construction of digital economy, and accelerate the industrialization of key technologies such as artificial intelligence and cloud computing.
Institutional advantages and top-level strategy have accumulated into a momentum, and there is great potential for the long-term development of digital economy
We believe that the development of China’s digital economy has the following advantages: 1) institutional advantages, the government has long-term continuity, strong implementation ability, and the advantage of focusing on key areas; 2) Strategic advantages: industrial upgrading is the top-level strategy of the country. Policies promote investment in science and technology, and the growth rate of technology industry ranks first. Over the past decade, Shenwan computer index rose 185%, ranking seventh among 31 primary industries; 3) According to statistics, China’s high-quality population is increasing rapidly. The results of the seventh census show that 218 million people have university education and about 945300 have doctoral degrees; 4) The construction of multi-level capital market. With the completion of capital market infrastructure such as science and innovation board and gem, the financing channels of science and technology enterprises in the whole life cycle have been opened, and they can obtain strong support for development and expansion from the capital market. Up to now, the total market value of the public investment science and innovation board market has exceeded 156 billion yuan.
Focus on the key driving track of digital economy and focus on high-quality targets in the field of science and technology
At present, the computer sector is still in the undervalued range, which is highly consistent with the strategic planning and policy direction of the digital economy. It is suggested to pay attention to the following sub tracks: 1) Artificial Intelligence: AI technology has been implemented in specific scenes such as smart city and smart government. With the improvement of computing power, it is expected to realize commercial application in more fields in the future; 2) Financial science and technology: the pilot of digital RMB has been promoted rapidly, and the domestic distributed architecture has been accelerated to replace it driven by independent and controllable requirements and new business forms of financial science and technology; 3) Network security: policy compliance, it infrastructure and security attack and defense drive the rapid development of network security; 4) Cloud Computing: the plan for computing from the east to the West has been issued, with heavy emphasis on the construction of data centers and computing power clusters. Infrastructure first reduces the cost of cloud computing and drives cloud computing to penetrate all walks of life; 5) Electric power informatization: clean electric energy is the only way for “double carbon”. Informatization is the core element to realize clean energy access and efficient power consumption.
Suggested concern
Fintech and Xinchuang: Grg Banking Equipment Co.Ltd(002152) , Yusys Technologies Co.Ltd(300674) , Hundsun Technologies Inc(600570) , Inspur Electronic Information Industry Co.Ltd(000977) .
Industrial software: Zhejiang Supcon Technology Co.Ltd(688777) , dingyang technology, Shanghai Baosight Software Co.Ltd(600845) , Zhejiang Heda Technology Co.Ltd(688296) .
Artificial intelligence: Pci Technology Group Co.Ltd(600728) , Iflytek Co.Ltd(002230) , Zhejiang Dahua Technology Co.Ltd(002236) , Hangzhou Hikvision Digital Technology Co.Ltd(002415) , Opt Machine Vision Tech Co.Ltd(688686) .
Smart car: Thunder Software Technology Co.Ltd(300496) , Arcsoft Corporation Limited(688088) , Huizhou Desay Sv Automotive Co.Ltd(002920) , Autel Intelligent Technology Corp.Ltd(688208) , China Transinfo Technology Co.Ltd(002373) .
Risk tips
1) the policy strength is less than expected; 2) The capital investment is lower than expected; 3) The aggravation of the epidemic situation affects the implementation of the project; 4) The fluctuation of supply chain increases, which affects the development of science and technology industry.
