Recently, affected by the interest rate hike cycle of the United States and China’s relatively loose monetary policy, the RMB exchange rate continued to weaken. At the same time, the United States proposed to reduce tariffs on some Chinese goods. In this context, the profit expectation of relevant export industrial chains is expected to increase. As for the communication industry, China’s Internet of things modules, optical modules and voice conference equipment have strong competitive advantages all over the world and are the main force of equipment export in the communication industry. Investors are advised to pay active attention to the capacity recovery and export improvement of high-quality enterprises in Eoptolink Technology Inc.Ltd(300502) , Suzhou Tfc Optical Communication Co.Ltd(300394) , Yealink Network Technology Co.Ltd(300628) and other related industries. In addition, this week, the optical module leader Eoptolink Technology Inc.Ltd(300502) released the first quarterly report, which was slightly lower than our previous expectations, mainly due to the provision of R & D expenses and related investment income. We believe that the sharp fluctuation of the company on Friday is mainly due to the amplification of sentiment in the weak market. From the perspective of the fundamentals of the company and the industry, the company has full orders and is less affected by the epidemic. The optical module industry benefits from the expansion and rate upgrading of overseas cloud expenditure, and the prosperity is high. Looking forward to this year, we believe that after the expense provision, the company will light up and resume a good growth rate in the following quarters, It is suggested that investors should actively pay attention to the oversold opportunities brought by this fluctuation.
Core recommendations:
\u3000\u30001. Export companies with competitive advantages: Yealink Network Technology Co.Ltd(300628) Yealink Network Technology Co.Ltd(300628) , Eoptolink Technology Inc.Ltd(300502) Eoptolink Technology Inc.Ltd(300502) , Suzhou Tfc Optical Communication Co.Ltd(300394) Suzhou Tfc Optical Communication Co.Ltd(300394)
\u3000\u30002. Telecom operators: China Mobile 600941, China Telecom Corporation Limited(601728) China Telecom Corporation Limited(601728)
Pay attention to the export industrial chain opportunities benefiting from exchange rates and tariffs. This week, the RMB exchange rate continued to weaken under the influence of the US interest rate hike cycle and China’s relatively loose monetary policy. Meanwhile, US Treasury Secretary Yellen said this week that the United States is willing to consider reducing the additional tariffs imposed on China under trump. In this context, the profit expectation of relevant export industrial chains is expected to increase. As for the communication industry, China’s Internet of things modules, optical modules and voice conference equipment have strong competitive advantages all over the world and are the main force of equipment export in the communication industry.
The broadband development alliance released the network speed in the fourth quarter of 2021. China’s broadband network speed has increased rapidly. The broadband development alliance released the report on China’s broadband rate in the fourth quarter of 2021 (issue 26). The report shows that in the fourth quarter of 2021, the average download rate of China’s fixed broadband network reached 62.55 Mbit / s, an increase of 9.2 Mbit / s over the same period in 2020, and an increase of 17.2% year-on-year; When China mobile broadband users use 4G and 5g networks to access the Internet, the comprehensive average download rate reached 59.34mbit/s, an increase of 25.57mbit/s over the same period in 2020, and an increase of 75.7% year-on-year.
IDC: in 2021, the shipment volume of China’s smart home equipment market exceeded 220million units, with a year-on-year increase of 9.2%. According to IDC, in the fourth quarter of 2021, the shipment volume of China’s smart home equipment market reached 63.37 million units, a year-on-year increase of 4.1%. In 2021, the shipment volume of China’s smart home equipment market exceeded 220 million units, with a year-on-year increase of 9.2%.
5g: trade friction is not up to expectations, and the risk is increased.
