This week's view:
I. key points of automobile standardization in 2022
On March 18, the Ministry of industry and information technology released the key points of automobile standardization in 2022, including 15 contents in the field of intelligent networked automobile and automobile chip. It can be inferred from the progress of standard formulation that information security, data compliance and intelligent networking are expected to enter the acceleration channel in 2022, and the implementation of L3 + is steadily promoted. Compared with the key points of automobile standardization released in 2021, this year's key points emphasize the completion of the review and approval of mandatory national standards such as information security and data recording. Data compliance will become a mandatory "standard configuration". In the field of intelligent networked vehicles, L3 + standard preparation, L2 verification, product access management and Internet of vehicles are mainly highlighted. In addition, this year's key points have added content in the field of automotive chips, which has increased the importance of the automotive chip industry.
II. Industry tracking: beyond the standard, where has the Internet of vehicles and intelligent driving gone?
1) Internet of vehicles: China's Internet of vehicles is changing from on-board information service stage to intelligent Internet service stage. Vehicle end: at present, a number of v2x front mounted models have been mass produced and launched, and the lte-v2x function has been highly valued by vehicle enterprises. Road end: on March 19, the country's first road network level intelligent Expressway supporting high-level automatic driving began to operate. We believe that the infrastructure construction of automatic driving and car Internet will enter an accelerated period, and more projects will be implemented in the future.
2) intelligent driving: in terms of industrial chain, software, hardware and chips have broken through L3 +; In terms of complete vehicles, from the expected schedule of L3 + mass production published by mainstream complete vehicle manufacturers, L3 + is expected to truly realize large-scale mass production from 2024 to 2025.
III. investment suggestions: focus on Navinfo Co.Ltd(002405) & Thunder Software Technology Co.Ltd(300496) & Huizhou Desay Sv Automotive Co.Ltd(002920)
1) Navinfo Co.Ltd(002405) : high-precision map + chip + data compliance multiple drivers. As a high-precision map "national team", it is expected to leverage the penetration of high-precision map business with data compliance business and extend to the upper level of automatic driving based on map data.
2) Huizhou Desay Sv Automotive Co.Ltd(002920) : deeply plough NVIDIA computing platform, and have released domain controllers that support L3 or above. The company has maintained in-depth cooperative relations with many leading car manufacturers, and at present, the company's latest domain controller products have supported automatic driving of L3 and above. (jointly covered with Huaxi Automobile Group)
3) Thunder Software Technology Co.Ltd(300496) : release Qualcomm 8295 intelligent cockpit solution, and intelligent driving opens the second growth curve. On the one hand, it maintains the card position advantage formed by cooperation with Qualcomm, on the other hand, it sets up a new company to show its determination to enter automatic driving.
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.
