Market review: this week (2022.4.6-2022.4.8), the CSI 300 index fell 1.06% and the computer index fell 3.77%.
Zhou viewpoint: focus on the high prosperity track of the first quarter report
(1) under the weak market environment, the market pays more attention to the first quarter
The revenue and profit of computer companies have obvious seasonality. The revenue in the first quarter often accounts for about 10% – 15% of the annual revenue. At the same time, most of the expenses incurred by the company in operation basically occur in the whole year. Therefore, the profit in the first quarter accounts for a lower proportion of the annual profit, and some companies are basically in a state of loss in the first quarter. Since March, the epidemic has been repeated in Shanghai, Shenzhen and other places. Affected by the delayed bidding of customers and the limited implementation of projects, the growth rate of the first quarter report of many companies is uncertain. Therefore, although the share is relatively low, in the current weak market environment, the market pursues certainty and pays more attention to the first quarterly report of the sector.
From the perspective of the industry, we should focus on the high boom segments. Under the influence of macroeconomic environment and epidemic situation, the track with outstanding performance can provide endorsement for the prosperity of the whole year. For individual stocks, the focus should be on revenue / contract rather than profit. Due to the low absolute amount of revenue and profit in the first quarter, the personnel of many companies will grow rapidly in 2021, which will inevitably lead to the increase of expenses, resulting in the pressure on the profit side.
(2) attach importance to high prosperity track: industry information innovation, remote sensing satellite application, intelligent Internet connected vehicle, etc
Combined with the 2021 performance express and the first quarter forecast disclosed by some companies, we think we should pay attention to the following directions: in the field of industry information and innovation, we previously proposed that 2022 will become the first year of industry information and innovation, and companies with technical strength will emerge in a more market-oriented competitive environment. In the field of remote sensing satellite application, according to the forecast of Geovis Technology Co.Ltd(688568) first quarterly report, the revenue is expected to increase by 40% – 55% Piesat Information Technology Co.Ltd(688066) in hand contracts and newly signed contracts are full, and the first quarterly report is expected to achieve brilliant performance. In the field of intelligent networked vehicles, the general trend of intelligent vehicles and networked vehicles, and the reform of automotive electronic and electrical architecture will lead to the reconstruction of the value of the industrial chain. In the field of industrial Internet, Beijing United Information Technology Co.Ltd(603613) has disclosed the forecast of the first quarter report, and the performance has continued to grow at a high rate Zhejiang Supcon Technology Co.Ltd(688777) , Zwsoft Co.Ltd(Guangzhou)(688083) , Guangzhou Sie Consulting Co.Ltd(300687) and others are expected to continue to benefit from the trend of localization of industrial software.
Investment suggestions:
(1) an industry driven by an industry letter: an industry driven by a creative industry: an industry of industry ” ” ” ” ” ” ” ” ” ” ” ” ” ” ” ” ” ” ” ” ” ” ” ” ” ” ” ”industry’ ” ” ” ” ” ” ”industry’ ” ” ” ”s faith: a recommendation to recommend ‘ Dawning Information Industry Co.Ltd(603019) 019′ ” ”’s recommendation for a recommendation for a ‘ Dawning Information Industry Co.Ltd(603019) 0199 \ etc.
(2) financial it: recommend Northking Information Technology Co.Ltd(002987) , Hundsun Technologies Inc(600570) , Fujian Apex Software Co.Ltd(603383) , Shenzhen Fortune Trend Technology Co.Ltd(688318) , Yusys Technologies Co.Ltd(300674) , Shenzhen Sunline Tech Co.Ltd(300348) , Global Infotech Co.Ltd(300465) , Tansun Technology Co.Ltd(300872) , etc.
(3) industrial Internet: the Internet of the industry: the Internet of the industry: the Internet of the industry: the Internet of the industry: the recommendation: the recommendation: the recommendation of the ‘ Beijing United Information Technology Co.Ltd(603613) , Guangzhou Sie Consulting Co.Ltd(300687) , Shenzhen Huaqiang Industry Co.Ltd(000062) , Longshine Technology Group Co.Ltd(300682) , etc.
(4) intelligent Internet connected vehicles: recommend Thunder Software Technology Co.Ltd(300496) , Autel Intelligent Technology Corp.Ltd(688208) , Beijing Tricolor Technology Co.Ltd(603516) , China Transinfo Technology Co.Ltd(002373) , and the beneficiaries include Huizhou Desay Sv Automotive Co.Ltd(002920) , Vanjee Technology Co.Ltd(300552) , etc.
(5) energy it: recommend Longshine Technology Group Co.Ltd(300682) , Jiangsu Yunyong Electronics And Technology Co.Ltd(688060) , Runa Smart Equipment Co.Ltd(301129) , and benefit targets include Ygsoft Inc(002063) , Dongfang Electronics Co.Ltd(000682) , Beijing Forever Technology Co.Ltd(300365) , Huizhong Instrumentation Co.Ltd(300371) , etc.
(6) military metauniverse: recommended Piesat Information Technology Co.Ltd(688066) , Geovis Technology Co.Ltd(688568) , Beijing Tricolor Technology Co.Ltd(603516) , Beijing Supermap Software Co.Ltd(300036) .
Risk warning: policy promotion is not as expected; It investment is less than expected; Industry competition intensifies.
