Current investment tips:
This week's weekly report includes three important contents: 1) we release the depth of digital energy. "Double carbon" gives birth to the stock and increment of "digital power". This paper will continue the research style of intelligent manufacturing in-depth report and look for investment opportunities in the whole industrial chain.
2) what are the current stocks that exceed and lower than expectations? Previously, the quarter with sluggish computer performance was 2021q4-2022q1.
The two lower quarterly reports expected by the computer industry are about to pass, and the opportunities of the sector have also increased! Here are some comments on important stocks: Hundsun Technologies Inc(600570) / Hangzhou Hikvision Digital Technology Co.Ltd(002415) / Zhejiang Supcon Technology Co.Ltd(688777) / Huizhou Desay Sv Automotive Co.Ltd(002920) / Inspur Electronic Information Industry Co.Ltd(000977) / Glodon Company Limited(002410) . 3) Does the second curve affect cash flow / gross profit margin? 2021 annual report and 2022q1 quarterly report troubled some investors: Glodon Company Limited(002410) / Hundsun Technologies Inc(600570) / Zhejiang Supcon Technology Co.Ltd(688777) , which expanded the second curve, hindered the growth of cash flow. Will this be the bottleneck of the computer industry?
First, we release the depth of digital energy. "Double carbon" gives birth to the stock and increment of "digital power". 1) Continue the research style of intelligent manufacturing in-depth report and look for investment opportunities in the whole industrial chain. 2) China's power system has experienced two rounds of major reforms, namely the "No. 5 document" from 2002 to 2015 and the "No. 9 document" from 2015 to 2020. Review the changes and invariance of policies. 3) The market criticizes the business model of the power industry, and details the business model, competition pattern and financial indicators of different links. 4) Analyze the transmission cycle and industrial development stage, and look for stock and incremental opportunities. 5) Related objects: Longshine Technology Group Co.Ltd(300682) , Yijiahe Technology Co.Ltd(603666) , Anhui Ronds Science & Technology Incorporated Company(688768) and so on, which have been analyzed by many companies.
Secondly, what are the current stocks that exceed / lower than expectations? Previously, the quarter with sluggish computer performance was 2021q4-2022q1 The two lower quarterly reports expected by the computer industry are about to pass, and the opportunities of the sector have also increased! Here are some comments on important stocks: Hundsun Technologies Inc(600570) / Hangzhou Hikvision Digital Technology Co.Ltd(002415) / Zhejiang Supcon Technology Co.Ltd(688777) / Huizhou Desay Sv Automotive Co.Ltd(002920) / Inspur Electronic Information Industry Co.Ltd(000977) / Glodon Company Limited(002410) . 1) Hundsun Technologies Inc(600570) : the change of management and the increase of technical background! 2) Hangzhou Hikvision Digital Technology Co.Ltd(002415) : both toughness and growth, and the leader of intelligent IOT exceeded expectations again. 3) Zhejiang Supcon Technology Co.Ltd(688777) : cross industry and schematization promote high growth, and the gross profit margin and cash flow are optimistic after restoration! 4 Huizhou Desay Sv Automotive Co.Ltd(002920) ：
Orders blowout, greatly exceeding market expectations. 5) Inspur Electronic Information Industry Co.Ltd(000977) : positive signal of goods preparation and flexible realization of profit. 6) Glodon Company Limited(002410) : Q1 predicted growth rate, and it is expected that the construction growth rate will continue.
Thirdly, does the second curve affect cash flow / gross profit margin? 2021 annual report and 2022q1 quarterly report troubled some investors: Glodon Company Limited(002410) / Hundsun Technologies Inc(600570) / Zhejiang Supcon Technology Co.Ltd(688777) , which expanded the second curve, hindered the growth of cash flow. So will this be a bottleneck or even ceiling of the computer industry? a) Cash flow is actually a "Porter's five forces" problem. b) After detailed analysis, the effect of "second curve" is also clear. At the beginning of the transformation, the cash flow may weaken and the gross profit margin / net profit margin may decline. However, once the transformation is successful, the above efficiency will be steadily improved. C) More importantly, performance stability and scale space have been improved. It is proved by the performance stability of Hangzhou Hikvision Digital Technology Co.Ltd(002415) / Shanghai Baosight Software Co.Ltd(600845) / Shenzhen Inovance Technology Co.Ltd(300124) (machinery) with successful transformation Hangzhou Hikvision Digital Technology Co.Ltd(002415) / Shanghai Baosight Software Co.Ltd(600845) / Shenzhen Inovance Technology Co.Ltd(300124) the standard deviation of deducting non profits after transformation is 5% - 6% / 8% / 3%, which is significantly improved. Its "coefficient of variation" is as high as 2-4 times, which is a statistically stable result. D) Discuss valuation changes in the process.
High quality portfolio: Hangzhou Hikvision Digital Technology Co.Ltd(002415) (Q1 is good and the prospect is optimistic), Hundsun Technologies Inc(600570) (Management technicalization), Beijing Kingsoft Office Software Inc(688111) (expected to accelerate after Q1 low point), Beijing Shiji Information Technology Co.Ltd(002153) , Sangfor Technologies Inc(300454) , Yonyou Network Technology Co.Ltd(600588) , Zhejiang Dahua Technology Co.Ltd(002236) .
Recent Growth Portfolio: Huizhou Desay Sv Automotive Co.Ltd(002920) (annual contract blowout), Zhejiang Supcon Technology Co.Ltd(688777) (good growth), Inspur Electronic Information Industry Co.Ltd(000977) , Glodon Company Limited(002410) , Thunder Software Technology Co.Ltd(300496) , mingyuanyun (H), Kingdee International (H), Dawning Information Industry Co.Ltd(603019) , Venustech Group Inc(002439) .
Main line elasticity: Beijing Compass Technology Development Co.Ltd(300803) , Beijing Join-Cheer Software Co.Ltd(002279) , Xindian software, Grg Banking Equipment Co.Ltd(002152) , Shenzhen Kingdom Sci-Tech.Ltd(600446) , Yunnan Nantian Electronics Information Co.Ltd(000948) .
Risk: in 2021, the industry income tends to slow down and the salary tends to increase. There is a risk of performance fluctuation in 2021.
