Data economy catalyses technological upgrading and high traffic growth, and ICT infrastructure ushers in a new increment of market demand.
At present, the global economy is becoming more and more digital. Digital economy has become one of the main economic forms in the world and the core driving force to promote China’s economic and social development. The integration of new generation information technologies such as 5g, cloud computing, big data, Internet of things and artificial intelligence with various socio-economic industries has been deepened, which has effectively promoted the development process of digitization, networking and intelligence of various industries, Become a powerful driving force for economic and social development and reform. During the 14th Five Year Plan period, China’s digital economy will further develop at a high speed and occupy an important position in the national strategy. The digital economy catalyzes the continuous integration and upgrading of ICT industry and Internet technology. As an important measure of the digital economy strategy, the “East digital West computing” project has the new technical characteristics of longer transportation distance, higher density of data centers and high computing power requirements. With the continuous promotion of “East digital West computing”, On the one hand, the newly-built data center and computing facilities need the infrastructure support of ICT cornerstone optical network; On the other hand, in order to meet the needs of high efficiency, low carbon and capacity, the traditional infrastructure needs to be further upgraded, which will bring further growth in the demand for optical networks, including optical modules, optical fiber cables and servers, so as to open up a new space for the ICT market in the industry.
ICT optical network industry chain continues to benefit, driving the prosperity of energy-saving sub industry is expected to rise.
The ICT industry chain integrates 5g + cloud computing, which is the general trend, and the demand for enterprises to go to the cloud is increasing. At the same time, as the main medium serving the cloud computing and data storage application end, the data center provides IAAs / SaaS end and other services for the outside world. Generally speaking, the prosperity is expected to improve; From the perspective of environmental protection policy under the background of “double carbon”, the distribution of data centers in China is demand-oriented. Under the general trend of changing operation to a third party, the demand of first-line and super first-line cities continues to release. Considering that the power consumption of data centers is high and the state has strict control over pue indicators, the overall scarcity of IDC in first-line cities and surrounding cities will be further enlarged with the increase of demand, so as to grasp the scarce resources and resources of IDC Companies with key energy-saving technologies are expected to enhance their bargaining power and concentration. At the same time, with the continuous growth of data volume, the incremental market space of the server industry is broad. Under the background of cloud computing, China’s professional server manufacturers have made rapid technological innovation, and domestic substitution is the key direction of development in the future.
Investment suggestion: enhance the concentration, and select sub sections and targets with core technology advantages.
The marginal improvement of prosperity of ICT infrastructure related sub industries is conducive to the stabilization and recovery of its valuation. In the medium and long term, the high growth of the company’s operating performance driven by new demand is more deterministic. What’s recommended to focus on: what’s recommended to focus on: what’s expected: what’s expected to be expected: what’s expected for a switch: what’s expected for a switch related to: what’s expected for a switch related to: a Fujian Star-Net Communication Co.Ltd(002396) ; ( Yangtze Optical Fibre And Cable Joint Stock Limited Company(601869) ), energy saving related Shenzhen Envicool Technology Co.Ltd(002837) ( Shenzhen Envicool Technology Co.Ltd(002837) ), Nanjing Canatal Data-Centre Environmental Tech Co.Ltd(603912) ( Nanjing Canatal Data-Centre Environmental Tech Co.Ltd(603912) ); In addition, the leading targets related to servers and IDC also need attention. At the same time, the operator China Mobile (600941 + 0941) is recommended to pay attention to as a long-term configuration direction.
Risk warning: risk of rising price of raw materials such as chips; Global epidemic impact and uncertainty of foreign policy environment; 5g large-scale commercial promotion was less than expected.
