Main points:
Plans at all levels have been issued one after another, and digital transformation has attracted much attention
On March 22, the national development and Reform Commission and the Energy Administration jointly issued the "14th five year plan" for modern energy system, proposing to accelerate the digital and intelligent upgrading of the energy industry, focusing on promoting the digitization of energy infrastructure, building smart energy platforms and data centers, and implementing smart energy demonstration projects. Compared with the simple reference to the intelligent construction of energy system in the 13th five year plan, the 14th five year plan pays more attention to digitization. On March 25, China Southern Power Grid released the digital plan of China Southern Power Grid Corporation during the 14th Five Year Plan period. It is estimated that the total investment in the digital plan of China Southern Power Grid during the 14th Five Year Plan period will exceed 26 billion yuan, and digital technology will promote the digital transformation of the power grid as the core productivity. We believe that the continuous emphasis on Digitization in the policy reflects that the digital transformation of the energy system has entered a comprehensive acceleration period, and the informatization of the power system is the inevitable choice to adapt to the large-scale new energy grid connection.
Power informatization is an important part of energy it, and there is a market space of 100 billion for a long time
From the perspective of the 14th five year plan for modern energy system, the smart energy demonstration project involves a total of 10 fields, and 7 are related to the power system, including new modes and new business forms of smart energy, smart energy platforms and data centers, smart wind power, smart photovoltaic, etc. The digital construction of power system plays an important role in the development of energy it. In terms of total investment, the investment in power grid intelligence accounted for about 13% during the 13th Five Year Plan period. During the 14th Five Year Plan period, we expect that the investment in power grid intelligence is expected to exceed 14%, and the investment amount will increase from about 300 billion yuan to about 450 billion yuan. From the perspective of specific links, we believe that the key investment direction of power grid in the short term is on the main grid side, such as the informatization required for new energy grid connection, and the investment in pure software is about 10 + billion yuan per year; In the long run, the information space on the distribution side is larger, which will be the main investment direction of the power grid in the future.
It is suggested to pay attention to power information enterprises with core barriers and performance cashing ability
In the context of the booming development of power informatization, we suggest paying attention to two types of enterprises: 1) platform listed enterprises with state-owned assets such as power grid or power generation group; 2) Deep ploughing in the field of electric power, enterprises with performance cashing ability. Specifically: Longshine Technology Group Co.Ltd(300682) : focusing on the informatization of power sales and consumption, the construction of power marketing system at end B is basically stable, and the substitution of version 2.0 brings new increment; The C-end charging pile aggregates the charging platform and value-added services to open sufficient upward space Ygsoft Inc(002063) : the old ERP leader of power system, the State Grid e-commerce shares, and the company actively layout the field of wisdom + technology. China Southern Power Grid Technology: a platform enterprise under China Southern Power Grid, with profound technology accumulation, is a pioneer in the overseas expansion of power technology. With self-developed software as the core, it provides a comprehensive solution of "technical service + intelligent device" Zhiyang Innovation Technology Co.Ltd(688191) : the company takes the intelligent operation and maintenance analysis and management system of transmission line as the core, gradually expands to the field of power transformation and distribution, and actively develops the application of artificial intelligence technology in this field.
Investment advice
Smart car: Thunder Software Technology Co.Ltd(300496) , Arcsoft Corporation Limited(688088) , Huizhou Desay Sv Automotive Co.Ltd(002920) , Autel Intelligent Technology Corp.Ltd(688208) , China Transinfo Technology Co.Ltd(002373) . Electric power informatization: Longshine Technology Group Co.Ltd(300682) , Ygsoft Inc(002063) , China Southern Power Grid technology, Zhiyang Innovation Technology Co.Ltd(688191) . Network security: Qi An Xin Technology Group Inc(688561) , Sangfor Technologies Inc(300454) , Topsec Technologies Group Inc(002212) , Dbappsecurity Co.Ltd(688023) , Venustech Group Inc(002439) . Fintech and Xinchuang: Grg Banking Equipment Co.Ltd(002152) , Yusys Technologies Co.Ltd(300674) , Hundsun Technologies Inc(600570) , Inspur Electronic Information Industry Co.Ltd(000977) . Artificial intelligence: Pci Technology Group Co.Ltd(600728) , Iflytek Co.Ltd(002230) , Zhejiang Dahua Technology Co.Ltd(002236) , Hangzhou Hikvision Digital Technology Co.Ltd(002415) , Opt Machine Vision Tech Co.Ltd(688686) .
Risk tips
1) the epidemic situation intensifies and reduces the expenditure of enterprise informatization; 2) Fiscal and monetary policies are lower than expected; 3) The fluctuation of supply chain increases, which affects the development of science and technology industry.
