We believe that the computer industry is in the early stage of a new round of landscape, and the recent policy catalytic expectation is strong. It is suggested to focus on the following main lines: 1. Server: the base of digital economy, the increment brought by counting from the east to the west, the resonance of upstream and downstream factors, and the peak of the new round of server boom is close. The inflection point of upstream indicators is clear. Taiwan Xinhua technology has accelerated its revenue growth since Q3 in 2021, and its revenue increased by 61.46% year-on-year in January 2022. In 2021, the inventory turnover rate of major foundary / IDM manufacturers in the world has significantly accelerated; Downstream demand was boosted. Capex, an Internet cloud giant outside China, maintained a high growth rate. Alibaba and Baidu’s Q4 capital expenditure in 2021 increased by 90.04% and 94.54% year-on-year respectively. Superimposed with the acceleration of computing power growth under the downstream digital economy, the layout of Eastern digital and Western computing, and the expectation of industry cloud promotion, we are optimistic about the demand growth of the server industry.
2. Energy it: under the background of the “double carbon” policy and the vigorous development of new energy industry, the energy Internet system has ushered in major development opportunities. The incremental space is reflected in three parts: 1. Firstly, the structure of the energy system will be transformed into the coordination of centralized and distributed, and the distributed structure will produce huge incremental development space in the evolution trend of the energy Internet. We are optimistic about the three key links in the construction of micro energy storage system and distributed energy storage system; 2. The new power system needs the digital transformation of the power grid. We are optimistic about the growth of intelligent sensing, platform and terminal applications of the Internet of things in the construction of digital power grid, as well as the growth of the demand for intelligent power operation, maintenance and monitoring; 3. Development of energy management services, urban charging stations, smart parks and other operation services.
3. Pan security: security is enhanced, and the “Xinchuang” ecosystem accelerates iteration, which benefits the basic software (including industrial software). The “14th five year plan” period will focus on the software industry chain and focus on three aspects: first, stabilize the upstream and consolidate the basic software strength of the upstream of the industrial chain such as development environment and tools. The second is to tackle key problems and improve the software level in the middle reaches of the industrial chain, such as industrial software, application software, platform software and embedded software. The third is to improve the downstream technology supply chain and increase the downstream technology supply chain. First, the industrial base has been upgraded. Breakthroughs have been made in the supply of basic components, and the leading role of standards has been significantly enhanced; Second, the industrial chain has reached a new level, the weaknesses of the industrial chain have been effectively solved, the supply capacity of key software such as basic software and industrial software has been significantly improved, focus on basic software (operating system, database, middleware, etc.), and focus on industrial software (including R & D and design software such as CAD / CAE / EDA, as well as industrial control software such as PLC / DCS / SIS). By 2025, There are more than 1 million industrial apps.
Investment recommendations: the most recommended investment recommendations: the most recommended investment recommendations: the focus of the most recommended investment recommendations: the focus of the most recommended recommendations: the most recommended recommendation of the ‘ Inspur Electronic Information Industry Co.Ltd(000977) . SH), Servyou Software Group Co.Ltd(603171) ( Servyou Software Group Co.Ltd(603171) . SH), Hundsun Technologies Inc(600570) ( Hundsun Technologies Inc(600570) . SH), Yonyou Network Technology Co.Ltd(600588) ( Yonyou Network Technology Co.Ltd(600588) . SH) ( Zwsoft Co.Ltd(Guangzhou)(688083) . SH), Sangfor Technologies Inc(300454) ( Sangfor Technologies Inc(300454) . SZ), Dbappsecurity Co.Ltd(688023) ( Dbappsecurity Co.Ltd(688023) . SH) Willfar Information Technology Co.Ltd(688100) (688110. SH), Zhongfu Information Inc(300659) ( Zhongfu Information Inc(300659) . SZ), Arcsoft Corporation Limited(688088) ( Arcsoft Corporation Limited(688088) . SH), etc.
