This week’s view:
I. the two sessions mentioned the digital economy again. As a long-term main line, the digital economy has become more and more clear. The government work report pointed out in the main expected objectives of development in 2022 that “promote the development of digital economy and strengthen the overall layout of Digital China Construction”, and expressed the digital economy in a “separate section” way for the first time, which is in the same position as innovation and manufacturing, Unprecedented attention. The 14th five year plan for digital economy development issued in January 2022 has defined the key indicators of digital economy development during the 14th Five Year Plan Period: the core industries of digital economy account for 10% of GDP; The application rate of industrial Internet platform is 45%; There are 800 million real name users of online government services. Overall, China’s digital economy is expected to flourish at a high speed, which has become increasingly clear as a long-term main line.
II. Digital economy has become the focus of the two sessions, digital information infrastructure has become the keyword, and “digital economy” has become the focus of discussion among the representatives of the two sessions. Digital information infrastructure is the “base” of the development of digital economy. The “east to West computing” project gives full play to China’s institutional advantages, optimizes the distribution of national computing infrastructure, realizes the national integrated layout, further improves China’s comprehensive competitiveness in the field of computing power, and promotes computing power to become a social service that can be “accessed at one point, accessed and used” like water and electricity. Industrial digitization and digital industrialization are important contents of digital economy. Promoting the deep integration of digital technology and real economy is the main line of the development of digital economy. Solve the problem of “digital real integration” with the systematic thinking of “technology industry society” Trinity, and jointly promote the transformation and upgrading of traditional industries, including guiding digital technology enterprises to carry out R & D in core industries and key fields, and increasing the technology supply of digital transformation. Independent innovation of key core technologies is the “cow’s nose” of the digital economy. China needs to continuously improve the basic R & D capacity of digital technology and achieve high-level self-reliance and self-improvement as soon as possible.
III. investment main line and beneficiary object
Four key words are extracted from the “digital economy” paragraph of the government work report: digital information infrastructure, industrial digitization (including industrial Internet), digital industry (integrated circuit, artificial intelligence) and key software and hardware as the main line to sort out the investment targets.
(1) digital information infrastructure: focus on Dawning Information Industry Co.Ltd(603019) , and benefit targets include Inspur Electronic Information Industry Co.Ltd(000977) etc.
(2) industrial digitization and industrial Internet: focus on recommending Yonyou Network Technology Co.Ltd(600588) , benefiting from Zhejiang Supcon Technology Co.Ltd(688777) , Digiwin Software Co.Ltd(300378) , Business-Intelligence Of Oriental Nations Corporation Ltd(300166) , Shanghai Baosight Software Co.Ltd(600845) , etc.
(3) integrated circuit & Artificial Intelligence: recommend Navinfo Co.Ltd(002405) , Iflytek Co.Ltd(002230) , China Greatwall Technology Group Co.Ltd(000066) , Changsha Jingjia Microelectronics Co.Ltd(300474) .
(4) key software and hardware: recommend Beijing Tongtech Co.Ltd(300379) , and benefit from China National Software And Service Company Limited(600536) , Archermind Technology (Nanjing) Co.Ltd(300598) , etc.
Investment advice
Reiterate that we are firmly optimistic about the leading companies with card advantages in cloud computing SaaS, energy it, financial technology, intelligent driving, artificial intelligence and other prosperous tracks, and actively recommend the following seven investment lines: 1. Cloud computing SaaS: focus on recommending enterprise SaaS leader Yonyou Network Technology Co.Ltd(600588) , office software leader Beijing Kingsoft Office Software Inc(688111) (joint coverage with small and medium-sized markets), and super Integration Leader Sangfor Technologies Inc(300454) . 2. New energy it: focus on recommending energy SaaS leader Longshine Technology Group Co.Ltd(300682) (joint coverage of communication group), distribution network dispatching pioneer Dongfang Electronics Co.Ltd(000682) , domestic energy BIM software leader Beijing Forever Technology Co.Ltd(300365) . 3. Fintech: focus on recommending securities it Hundsun Technologies Inc(600570) . In addition, Yusys Technologies Co.Ltd(300674) , Shenzhen Sunline Tech Co.Ltd(300348) , Hithink Royalflush Information Network Co.Ltd(300033) , all welcome the upswing of the economy. 4. Intelligent driving: the vehicle OS leader Thunder Software Technology Co.Ltd(300496) , the intelligent cockpit leader Huizhou Desay Sv Automotive Co.Ltd(002920) (joint coverage of vehicle groups) and the high-precision map leader Navinfo Co.Ltd(002405) are recommended as the key benefit targets. 5. Artificial intelligence: recommend intelligent voice faucet Iflytek Co.Ltd(002230) . 6. Network security: focus on recommending emerging security double leaders Qi An Xin Technology Group Inc(688561) + Sangfor Technologies Inc(300454) , Dbappsecurity Co.Ltd(688023) as a subdivided emerging security leader, which will also benefit deeply. Other beneficiaries include: Venustech Group Inc(002439) , Xiamen Meiya Pico Information Co.Ltd(300188) , etc. 7. Xinchuang: domestic WPS leading manufacturer Beijing Kingsoft Office Software Inc(688111) (jointly covered with small and medium-sized disk groups), domestic middleware leading Beijing Tongtech Co.Ltd(300379) , domestic PDF leading Fujian Foxit Software Development Joint Stock Co.Ltd(688095) , domestic server leading Dawning Information Industry Co.Ltd(603019) .
Risk tips
Market systemic risks, the landing of scientific and technological innovation policies is less than expected, and the game between China and the United States is an emergency.
