Core view
Analysis of computer industry: recent events in the field of digital currency continue. Digital currency has entered people’s daily life in the pilot stage of previous years, and the performance of relevant sectors continues. It is recommended to pay attention to the bank IT sector. In addition, from the beginning of 22 years, financial information innovation is expected to accelerate, and the information innovation sector is also expected to usher in opportunities.
The digital currency sector continues to be positive. Since December last year, digital currency related benefits have continued. On December 2, Beijing launched a new round of “Beijing color benefits people’s livelihood” digital currency pilot. On December 9, Hainan launched the digital RMB signing and tax payment pilot. On January 4, the digital RMB app was officially launched in apple and android app stores. On January 5, meituan app opened digital currency payment in the digital RMB pilot city. At the same time, the Winter Olympics will become an important application scenario of digital currency. With the approaching of the Winter Olympics, the popularity of the digital currency sector is expected to be further improved. The digital currency industry chain includes the upstream basic chip and application technology related industries, as well as the fields of security chip, security encryption and data security, the midstream currency issuing industry (including digital currency issuing institutions and bank IT industry), and the downstream payment, circulation and settlement fields. Therefore, the popularization of digital RMB will drive bank it, data encryption, network security Product upgrading and application scenario expansion in payment terminal and other industries.
Financial information innovation accelerated. Since November last year, the development of credit innovation in the financial industry has been accelerating. For example, Yunnan Nantian Electronics Information Co.Ltd(000948) announced that it had won the bid for China’s Agricultural Bank Of China Limited(601288) Kunpeng PC server procurement project in 2021, with a bid winning amount of 1.487 billion yuan. At the same time, Digital China Information Service Company Ltd(000555) the third quarterly report of 21 showed that the company’s financial credit innovation orders in the first three quarters had won 441 million yuan, a year-on-year increase of 10 times, and China Greatwall Technology Group Co.Ltd(000066) also said on the official website, The company’s products have fully entered the six major state-owned banks, local urban banks and joint-stock banks, and formed benchmark projects. In addition, according to our grassroots research, financial giants including China Industrial And Commercial Bank Of China Limited(601398) , Bank Of China Limited(601988) have recently launched large-scale bidding for credit innovation products, and the financial credit innovation curtain is opening. In the previous stage, the party and government Xinchuang has continued to accelerate its development since 19 years. Operators have also matched a large proportion of domestic products in the server bidding in 20 and 21 years. Previously, the financial industry represented by banks has adopted a more conservative pilot strategy for domestic products due to its high requirements for security and stability. This time, the financial industry has successively purchased large-scale domestic products. On the one hand, it shows that Xinchuang in the financial industry may be accelerating. On the other hand, it also shows that the performance of domestic products is constantly improving, which can gradually meet the needs of most industries, including the financial industry. China’s financial industry needs more than 300000 servers every year, and Xinchuang in the financial industry will further promote the demand for localization.
Financial information innovation has already begun, and the current time is gradually ripe. In December 2013, the CBRC held a meeting to emphasize accelerating the credible process of banking innovation and announced the “establishment of a bank independent and controllable information technology innovation strategic alliance mechanism”. In January 2014, Inspur Tissot K1 replaced IOH minicomputers on a large scale, and the financial field Bank Of China Limited(601988) , export import bank, China Construction Bank, postal savings office, Bank of Dalian and Bank of Luoyang became users of Tissot K1 system. In September 2014, the CBRC confirmed that since 2015, the application of safe and reliable information technology by banking financial institutions has increased year by year at a proportion of no less than 15%, and reached an overall proportion of no less than 75% by 2019. In October 2014, Postal Savings Bank Of China Co.Ltd(601658) innovation trusted core successfully went to IOE, realizing the first large and medium-sized innovation trusted case in the banking industry. In December 2014, the golden science and Technology Commission was established. In 2016 and 2017, the National People’s Congress and the state Internet Information Office repeatedly issued documents emphasizing network security in the financial field. In June 2018, Guo Shuqing, Secretary of the Party committee of the central bank, clearly pointed out to promote the application of innovative and trusted technologies in core areas in the financial industry. In December 2018, the central bank, the national development and Reform Commission and other six ministries and commissions issued the notice on carrying out financial technology application pilot projects to carry out innovative and credible financial technology application pilot projects in Beijing, Shanghai, Jiangsu and other provinces. In January 2020, ABC’s enterprise online banking was successfully compatible with the domestic Galaxy Kirin operating system. On August 7, 2020, Qilin Xin\’an cloud desktop all-in-one machine helped the safe office of the people’s Bank of China. We believe that the preparatory work for localization in the financial field in the early stage has fully laid a solid foundation. This large-scale letter creation bidding of many banks is the beginning of the full localization of the industry. It is expected that other fields will join in the later stage, and the industry letter creation will usher in rapid development.
China has formed a relatively perfect domestic industrial chain. China has started the localization layout of the computing industry since the 1980s. From the early “863” and “nuclear high base” plans to the capital support of national large funds in recent years, China’s information technology and innovation industry has always taken the road of a large-scale and complete industrial chain. Now China’s information technology and innovation industry has entered a new stage of industrialization development, forming basic chips including underlying CPU and GPU, Complete industrial chain of operating system, database, middleware and other basic software as well as various upper tool software and application software. At present, the largest card neck field of China’s information technology and innovation industry is the chip manufacturing link. I believe that with this link being gradually broken, the development of information technology and innovation industry will go to a higher level.
Investment suggestions: focus on bank it Yusys Technologies Co.Ltd(300674) , Shenzhen Sunline Tech Co.Ltd(300348) and credit and innovation sectors China Greatwall Technology Group Co.Ltd(000066) , China National Software And Service Company Limited(600536) , Dawning Information Industry Co.Ltd(603019) , Beijing Tongtech Co.Ltd(300379) .
Risk tip: the economy is down, and the government expenditure is less than expected; The strength of the policy was less than expected.
