Key investment points:
Industry dynamics
International market: AMD applies for a new patent, and the memory can automatically overclock; Intel invested US $700 million to build a data center laboratory, focusing on submerged heat dissipation technology; Qualcomm released new chips to expand market coverage, and its flagship chip production was transferred to single TSMC.
Chinese market: reaffirm the importance of platform economy and inspire practitioners’ confidence in the future; Chongqing has opened 1066600 digital RMB wallets; The construction of the ecological computing power center of the Yellow River Basin was officially launched.
Hardware price index
The price index of computer hardware in this period was 101.75, with a year-on-year decrease of 0.23%, of which the price index of notebook decreased by 0.32% year-on-year; Desktop price index and tablet price index were flat with the previous period.
The price index of DIY accessories in this period is 88.20, which is the same as that in the previous period, including the price index of LCD 94.13; The main board price index is 87.75; CPU price index 80.27; Hard disk price index 104.44; Memory price index 82.68; The graphics card price index was 60.73, which was flat with the previous period.
Important developments of A-share listed companies
Dawning Information Industry Co.Ltd(603019) : 1.6 yuan for every 10 shares in 2021 Hundsun Technologies Inc(600570) : Announcement on the progress of capital increase and share expansion of the holding subsidiary Hang Seng Baotai (Guangdong) Technology Co., Ltd Glodon Company Limited(002410) : the national key research and development program “common key technologies for intelligent design of land transportation infrastructure” was officially launched.
Weekly market review and investment strategy outlook
From May 16 to May 20, the CSI 300 index rose 2.23%, the Shanghai Composite Index rose 2.02%, the Shenzhen Component Index rose 2.64%, the gem index rose 2.51%, the science and innovation 50 rose 3.42%, and the computer industry rose 1.38%, of which the computer equipment sector rose 2.46%. In terms of individual stocks, Sgsg Science&Technology Co.Ltd.Zhuhai(300561) , Beijing Asiacom Information Technology Co.Ltd(301085) led the increase Beijing Transtrue Technology Inc(002771) , Huashi led the decline in science and technology. We believe that the strong rise of Sgsg Science&Technology Co.Ltd.Zhuhai(300561) and Hunan Copote Science Technology Co.Ltd(600476) is due to the concept of domestic software, and the rise of Beijing Asiacom Information Technology Co.Ltd(301085) is due to the concept of digital economy Beijing Transtrue Technology Inc(002771) ‘s sharp decline may be related to the company’s annual report inquiry letter.
From the perspective of PE valuation (TTM, overall method, no adjustment), the current valuation of the computer sector is 61.14 times, 69.96% of the historical valuation percentile in the past 10 years, with a slight increase in the week on month ratio.
Affected by the upward trend of market shock, the computer sector showed a rebound this week. It is expected that with the recovery of market sentiment, the computer sector is expected to continue to rebound. It is suggested to pay attention to the subdivided industries and targets with favorable policies. We are mainly optimistic about the concept of East West calculation and digital currency, and maintain the overweight rating of Dawning Information Industry Co.Ltd(603019) ( Dawning Information Industry Co.Ltd(603019) ) and Hundsun Technologies Inc(600570) ( Hundsun Technologies Inc(600570) ).
Risk tips
There are uncertainties in the implementation of policies, the steady growth investment is less than expected, the epidemic change is more than expected, and the geographical conflict is intensified.
