Important trends in the industry this week:
China Telecom Corporation Limited(601728) : more than 9900005g base stations are expected to be in use by the end of 2022
For 2022, China Telecom Corporation Limited(601728) it is estimated that more than 9900005g base stations will be in use by the end of the year, and the capital expenditure is expected to be 34 billion yuan. Among them, China Telecom Corporation Limited(601728) newly built 1700005g base stations, continuously improving 5g depth and breadth coverage: 3.5GHz base stations cover urban areas and high-value indoor areas, and 2.1GHz base stations cover other areas. Counterpoint: in January this year, the global 5g mobile phone penetration reached 51%, and the annual shipment is expected to exceed 800 million
According to the monthly sales tracking report of global mobile phone models released by counterpoint research recently, the global sales penetration rate of 5g smart phones reached 51% in January 22, exceeding the penetration rate of 4G smart phones for the first time; Ethan Qi, deputy director of research, pointed out that in terms of 5g mobile phone growth, it is expected that the global shipment of 5g smart phones will exceed 800 million in 22 years. Thanks to the rapid development of China's 5g market, 5g smartphone shipments accounted for 76% in 21 years and are expected to exceed 80% in 22 years.
Investment view this week:
In the short term, focus on the subject of high growth & low value & policy benefits (digital economy, East West calculation, etc.) in the first quarter report. Looking forward to the whole year, focus on the high boom track and the low / undervalued value + reversal logic target. Key focus: applications in subdivided fields such as communication + energy storage / new energy, Internet of things / Internet of vehicles, cloud computing and industrial Internet have entered the stage of accelerated development, and the growth logic is clear. In the medium and long term, we will continue to pay attention to high boom segments with strong performance certainty. It is suggested to pay attention to: Internet of things / smart car, optical fiber cable / submarine cable, Gigabit broadband, military communication, video conference, IDC, operators, etc
I. 5g network:
1. Main equipment supplier: key recommendation: Zte Corporation(000063) ;
2. Optical fiber and optical cable: key recommendations: Jiangsu Zhongtian Technology Co.Ltd(600522) (the ocean and new energy sectors have full potential, and the business cycle of optical fiber and optical cable is open), Hengtong Optic-Electric Co.Ltd(600487) (Ocean + optical fiber and optical cable dual drive), Jiangsu Etern Company Limited(600105) (optical communication recovers, and the automobile harness opens the incremental space). It is suggested to pay attention to: Yangtze Optical Fibre And Cable Joint Stock Limited Company(601869) (the volume and price of optical fiber and optical cable rise simultaneously);
3. Light module & light device: light module & light device: 3 Zuming Bean Products Co.Ltd(003030) ;
II. 5g application end (Automotive intelligence, etc.):
1. Internet of things / networking of vehicles: what's to be: to highlight: what's to recommend to highlight: Skyworth Digital Co.Ltd(000810) , Cubic Sensor And Instrument Co.Ltd(688665) (mechanical combined coverage); It is suggested to pay attention to: Huagong Tech Company Limited(000988) (on-board sensing capacity), Shenzhen Neoway Technology Co.Ltd(688159) , Beijing Inhand Networks Technology Co.Ltd(688080) , Wenzhou Yihua Connector Co.Ltd(002897) (vehicle connector + photovoltaic), Dongguan Dingtong Precision Metal Co.Ltd(688668) , Suzhou Recodeal Interconnect System Co.Ltd(688800) , Hangzhou Hopechart Iot Technology Co.Ltd(688288) ;
2. Online office / video conference: key recommendations: Yealink Network Technology Co.Ltd(300628) (UC terminal solution leader, continuous improvement of product matrix), Fujian Star-Net Communication Co.Ltd(002396) (cloud office / cloud desktop, video conference), Montnets Cloud Technology Group Co.Ltd(002123) (rich media SMS leader), Bizconf Telecom Co.Ltd(300578) (video conference software and hardware layout), etc;
3. Operators: China Mobile, China Telecom Corporation Limited(601728) , China United Network Communications Limited(600050) ;
III. communication + energy:
1. Sea breeze submarine cable: Jiangsu Zhongtian Technology Co.Ltd(600522) (the ocean and new energy sectors have full potential, and the business cycle of optical fiber and cable has started), Hengtong Optic-Electric Co.Ltd(600487) (sea breeze + optical fiber and cable dual drive);
2. IDC: a key recommendation from IDC: a key recommendation from the IDC: to focus on: Hongda Xingye Co.Ltd(002002) 335 etc;
IV. military communication & Beidou: communication is a serious weakness in the field of national defense informatization, and the penetration rate of ultrashort wave and area width can be improved. It is suggested to pay attention to: Guangzhou Haige Communications Group Incorporated Company(002465) , Tianjin 712 Communication & Broadcasting Co.Ltd(603712) , Jushri Technologies Inc(300762) , Shanghai Huace Navigation Technology Ltd(300627) ;
V. digital RMB: with the continuous promotion of digital RMB, large-scale application can be expected in the future. It is suggested to pay attention to: Chutian Dragon Co.Ltd(003040) , Eastcompeace Technology Co.Ltd(002017) etc.
Risk warning: the impact of the epidemic, the progress of 5g industry and commerce are lower than expected, the speed of downstream application recommendation is lower than expected, and the risk of trade war is uncertain.
