Key investment points:
Industry dynamics
International market: Microsoft cooperates with NVIDIA to build encrypted GPU on azure cloud; NVIDIA: it is building a high-precision map platform for automatic driving, with an accuracy of centimeter level, covering 500000 kilometers in 2024; NVIDIA: released more than 60 cuda-x library updates to accelerate quantum computing and 6G research.
Chinese market: Shanghai Lingang Holdings Co.Ltd(600848) New Area: release the action plan for building network security industry cluster, and strive to exceed 3 billion yuan in industrial scale by 2025; 360: exposure of NSA’s top cyber weapons in the United States, and indiscriminate attacks on Internet users around the world; IDC: the scale of China’s network security market is expected to exceed US $21.4 billion in 2025.
Hardware price index
The price index of computer hardware in this period is 102.67, which is the same as that in the previous period, including the price index of notebook 104.16; Desktop price index 94.24; The tablet price index was 123.88, unchanged from the previous period. The price index of DIY accessories in this period is 88.02, which is the same as that in the previous period, including the price index of LCD 92.64; Main board price index: 75.87; CPU price index 80.27; Hard disk price index 104.80; Memory price index 83.40; The graphics card price index was 60.73, which was flat with the previous period.
Important developments of A-share listed companies
Unisplendour Corporation Limited(000938) : the annual net profit was 2.148 billion yuan, with a year-on-year increase of 18.51% Beijing Supermap Software Co.Ltd(300036) : the annual net profit was 288 million yuan, a year-on-year increase of 22.55% Hithink Royalflush Information Network Co.Ltd(300033) : 18 yuan for every 10 shares in 2021.
Weekly market review and investment strategy outlook
From March 21 to March 25, the CSI 300 index fell 2.14%, the Shanghai Composite Index fell 1.19%, the Shenzhen composite index fell 2.08%, the gem index fell 2.80%, the Kechuang 50 fell 3.27%, the computer industry fell 4.10%, of which the computer equipment sector fell 4.48%. In terms of individual stocks, Tiza Information Industry Corporation Inc(300209) , Silkroad Visual Technology Co.Ltd(300556) led the increase Xinjiang Sailing Information Technology Co.Ltd(300588) , Yimikang Tech.Group.Co.Ltd(300249) led the decline. We believe that the strong rise of Tiza Information Industry Corporation Inc(300209) is due to the rise of Internet e-commerce sector caused by the resumption of tariff exemption of some Chinese imports by the United States; The decline of Xinjiang Sailing Information Technology Co.Ltd(300588) and Yimikang Tech.Group.Co.Ltd(300249) was mainly due to the release of systemic risks.
From the perspective of PE valuation (TTM, overall method, excluding negative values), the current valuation of the computer sector is 58.63 times, which is 28.74% of the historical valuation percentile in the past 10 years, with a slight decrease in the week on month ratio. Affected by the downward trend of market shock, the computer sector still showed a downward trend this week. It is expected that with the release of system risk, the computer sector is expected to usher in a rebound. It is suggested to pay attention to the subdivided industries and targets with favorable policies. We are mainly optimistic about the concept of network security, the concept of eastern and Western computing, and the concept of digital RMB, and maintain the overweight rating of Unisplendour Corporation Limited(000938) ( Unisplendour Corporation Limited(000938) ), Digital China Information Service Company Ltd(000555) ( Digital China Information Service Company Ltd(000555) ) and Shenzhen Emperor Technology Company Limited(300546) ( Shenzhen Emperor Technology Company Limited(300546) ).
Risk tips
There are uncertainties in policy implementation, investment in steady growth is less than expected, epidemic changes are more than expected, and geographical conflicts are intensified.
