Market review: this week (1.4-1.7), the CSI 300 index fell 2.39% and the computer index fell 3.63%.
Zhou viewpoint: focus on investment opportunities of digital currency
(1) industry catalysis: with the Winter Olympics approaching, the promotion of digital RMB is accelerated
The Winter Olympics is an important application scenario for the pilot of digital RMB. With the approaching of the Winter Olympics (February 4), the promotion of digital RMB will speed up. Liu Yuling, member of the Party committee and deputy director of the business management department of the people's Bank of China, previously said that around the 2022 Winter Olympic Games, we have promoted the pilot of digital RMB in more scenarios, and 355000 scenarios have been implemented, covering seven scenarios such as transportation, catering and accommodation, shopping and consumption. Key business districts, scenic spots and hotels in Beijing have realized their support for digital RMB. On January 4, the digital RMB (pilot version) app was officially launched, and 49 sub wallets were launched, involving shopping, travel, life, tourism and five other categories.
(2) BENEFICIARY sector: Digital RMB is expected to bring incremental demand
According to the white paper on research and development progress of China's digital RMB, digital RMB adopts centralized management and two-tier operation, the central bank is responsible for issuance and life cycle management, and commercial banks and other institutions are responsible for exchange and circulation services. At present, the main operators include nine banks, including China, agriculture, industry, construction, transportation, postal savings, China Merchants, online merchants and Weizhong. Other small and medium-sized banks and institutions will also provide digital RMB services. Therefore, large state-owned banks, joint-stock banks and small and medium-sized banks will generate relevant system development, testing, operation and maintenance requirements, and bank it, security encryption, hardware equipment and other related companies are expected to benefit.
(3) BENEFICIARY object: focus on investment opportunities of digital currency
The revenue growth of bank IT companies such as Northking Information Technology Co.Ltd(002987) , Tansun Technology Co.Ltd(300872) , Global Infotech Co.Ltd(300465) in the first three quarters was more than 30%, which has verified the prosperity of the industry. However, the corresponding valuation of most bank it targets in 2022 is only more than 20 times, which is ushering in the layout opportunity. Historically, the bank's IT sector has good valuation flexibility in the active stage. At present, under the catalysis of the Winter Olympic Games and digital RMB, we suggest paying attention to the repair opportunities brought by this. Beijing Infosec Technologies Co.Ltd(688201) (security related) is recommended. The beneficiary objects include Northking Information Technology Co.Ltd(002987) , Yusys Technologies Co.Ltd(300674) , Shenzhen Sunline Tech Co.Ltd(300348) , Global Infotech Co.Ltd(300465) , Tansun Technology Co.Ltd(300872) , Digital China Information Service Company Ltd(000555) and other bank IT companies, as well as Newland Digital Technology Co.Ltd(000997) (digital payment), Newcapec Electronics Co.Ltd(300248) (payment platform and collection equipment).
Investment suggestions:
(1) bank it: the beneficiary objects include Northking Information Technology Co.Ltd(002987) , Yusys Technologies Co.Ltd(300674) , Shenzhen Sunline Tech Co.Ltd(300348) , Global Infotech Co.Ltd(300465) , Tansun Technology Co.Ltd(300872) .
(2) medical it: focus on B-Soft Co.Ltd(300451) , Winning Health Technology Group Co.Ltd(300253) , Sichuan Jiuyuan Yinhai Software Co.Ltd(002777) , and benefit targets include China Reform Health Management And Services Group Co.Ltd(000503) .
(3) energy it: focus on Longshine Technology Group Co.Ltd(300682) , Jiangsu Yunyong Electronics And Technology Co.Ltd(688060) , Runa Smart Equipment Co.Ltd(301129) , and other beneficial targets include Ygsoft Inc(002063) , Dongfang Electronics Co.Ltd(000682) , Beijing Forever Technology Co.Ltd(300365) , Huizhong Instrumentation Co.Ltd(300371) .
(4) military metauniverse: recommend Piesat Information Technology Co.Ltd(688066) , Geovis Technology Co.Ltd(688568) , Beijing Tricolor Technology Co.Ltd(603516) , Beijing Supermap Software Co.Ltd(300036) , and benefit targets include Wuhan Xingtu Xinke Electronics Co.Ltd(688081) .
(5) intelligent networked vehicles: recommended Thunder Software Technology Co.Ltd(300496) , Autel Intelligent Technology Corp.Ltd(688208) , Beijing Tricolor Technology Co.Ltd(603516) , China Transinfo Technology Co.Ltd(002373) ; The beneficiary objects include Huizhou Desay Sv Automotive Co.Ltd(002920) , Vanjee Technology Co.Ltd(300552) , etc.
(6) network security: continue to focus on recommending Sangfor Technologies Inc(300454) , Dbappsecurity Co.Ltd(688023) , Qi An Xin Technology Group Inc(688561) , Nsfocus Technologies Group Co.Ltd(300369) , Venustech Group Inc(002439) , Xiamen Meiya Pico Information Co.Ltd(300188) , Hangzhou Dptech Technologies Co.Ltd(300768) , Trs Information Technology Co.Ltd(300229) ; Other beneficial objects include Topsec Technologies Group Inc(002212) , Westone Information Industry Inc(002268) .
Risk warning: policy promotion is not as expected; The bank's IT investment is less than expected; Industry competition intensifies.
