This week’s market. This week, the gem fell from 256991 points to 246036 points, down 4.26%. The computer industry was – 4.76%, ranking 22nd in the industry, weaker than the gem and weaker than the Shanghai Composite Index (down 1.25%). PE (TTM) under the industry median valuation method is 41.7 (excluding negative values).
The feedback of the first quarterly report supports the style switching of the head varieties. Judging from the situation disclosed in the first quarter, the performance of the head company is significantly stronger than that of the second and third tier varieties in the current environment, which is due to the cross industry of downstream customers, the cloud attribute of some companies and the better customer quality of the head company, which has stronger toughness. Considering the impact of the epidemic throughout the first and second quarters, the comparative advantage of head varieties may be further expanded in the second quarter. At the same time, most of the leading companies had a phased performance peak in the first quarter of 21. The market has responded in advance to the expectation of insufficient growth in the first quarter, and is now in the stage of high tolerance for growth we believe that we have entered the bottom platform stage of high toughness varieties at the head. With the repair of some companies in the second quarter, there is expected to be an operating inflection point. Specific objects that have been proved at present: Glodon Company Limited(002410) , Thunder Software Technology Co.Ltd(300496) , Inspur Electronic Information Industry Co.Ltd(000977) , Hangzhou Hikvision Digital Technology Co.Ltd(002415) , etc
The difference between the second and third tier varieties is that a large number of these companies are at theoretical PE lows, and the market’s expectations for performance have been more optimistic since the fourth quarter of last year. From the past performance, grassroots research results and 20-year resilience recovery, vertical track companies have weak cyclicality, are prone to periodic lower than expected, showing the characteristics of short-term decline. Therefore, more caution may be needed. At present, some stocks have obvious liquidity failure.
Shanghai automobile supply chain began to test the recovery, and responded in advance to the upstream mitigation expectation. At the beginning of the year, the intelligent driving track was a vertical track with high demand certainty this year. There is no problem with the large demand and technology development trend in the future, but the supply chain problems caused by the Shanghai epidemic may lead to the shutdown of downstream main engine plants, killing the business growth expectation of the sector in the whole year to a certain extent, which also kills the valuation. Some stocks have been adjusted greatly recently. Therefore, once the resumption of work is started, there will probably be repair opportunities. With the progress of intelligence, companies with high order saturation in the short term and sufficient driving force for upward market demand in the long term are prone to better layout time points in this adjustment.
In the vertical industry, it is preferred to select the sector with high budget landscape making bearing, which may bring short-term impact or opportunities. The electric power information industry belongs to the budget system, with relatively fixed investment. The delay of phased project system acceptance can be recovered within the year, accounting for about 10% of the whole year in the first quarter. In the telecommunications industry, the investment projects are stable. The financial industry enjoyed a good boom last year and has a full budget this year. Companies with customers in these three industries have short-term layout opportunities and can look for medium-term opportunities.
if the sector rebounds, the large financial sector may be the starting point
Computer continues to pay attention to the company: (ranking in order)
recent focus: Glodon Company Limited(002410) , Thunder Software Technology Co.Ltd(300496) , Huizhou Desay Sv Automotive Co.Ltd(002920) , Inspur Electronic Information Industry Co.Ltd(000977) , Beyondsoft Corporation(002649) ; Intelligent network connection: Huizhou Desay Sv Automotive Co.Ltd(002920) , Thunder Software Technology Co.Ltd(300496)
Industry Xinchuang: Dawning Information Industry Co.Ltd(603019) ;
Power grid Informatization: Longshine Technology Group Co.Ltd(300682) , State Grid Information&Communication Co.Ltd(600131) , Ygsoft Inc(002063) , Nari Technology Co.Ltd(600406) , Jade Bird Fire Co.Ltd(002960) , etc; Artificial intelligence: Hangzhou Hikvision Digital Technology Co.Ltd(002415) , Iflytek Co.Ltd(002230) ;
Cloud Computing: Unisplendour Corporation Limited(000938) , Yonyou Network Technology Co.Ltd(600588) , Beijing Kingsoft Office Software Inc(688111) , Glodon Company Limited(002410) , etc; Fintech: Hithink Royalflush Information Network Co.Ltd(300033) , Fujian Apex Software Co.Ltd(603383) , Hundsun Technologies Inc(600570) .
Risk warning: liquidity contraction brings phased risks; The long-term business continuity of undervalued companies is uncertain.
