Core view
On January 16, 2022, Qiushi published Xi Jinping general secretary’s important article “constantly strengthening, optimizing and expanding China’s digital economy”, which said that countries are competing to formulate digital economy development strategies and incentive policies. Digital economy is becoming a key force in restructuring global factor resources, reshaping global economic structure and changing global competition pattern. He has always attached great importance to the work of digital economy. Since the 18th National Congress, he has attached great importance to the development of digital economy and has become a national strategy.
The market underestimated the importance of the digital economy
We believe that the market underestimates the influence of the digital economy, and technological innovation conducive to the digital economy will receive more support in the future. Since the 18th CPC National Congress, the digital economy has been mentioned by the Central Committee for many times: during the collective study of the 18th CPC Central Committee Political Bureau in 2016, it stressed the need to expand and strengthen the digital economy. During the collective study of the 19th Political Bureau of the CPC Central Committee in 2017, it stressed the need to accelerate the construction of Digital China. The 2018 central economic work conference stressed the need to accelerate the construction of new infrastructure; In his congratulatory letter to the world Internet Conference in 2021, the general secretary pointed out that we should stimulate the vitality of the digital economy.
The digital transformation of traditional industries has huge development space
The digital transformation of traditional industries will have great development space. The “driving” will be transformed into “intelligent driving” with automatic induction, wireless charging and automatic parking, the “medical” will be transformed into “intelligent medical” with online consultation and remote surgery, and the “factory” will be transformed into a “digital chemical plant” with manipulator control and real-time data display.
Electronic infrastructure leads the digital economy
First, from the perspective of science and technology composition structure, the construction of digital economy needs electronic hardware infrastructure first, followed by software and network applications. Second, in terms of the order of scientific and technological development, there are core components (chips), new product innovation, and then Shenzhen New Industries Biomedical Engineering Co.Ltd(300832) based on new products. The biggest resistance to the development of Shenzhen New Industries Biomedical Engineering Co.Ltd(300832) at this stage is the imperfect infrastructure of electronic hardware, which is needed to lead the digital economy.
Key core technology remains the commanding height of competition
The digital economy is inseparable from the support of software and hardware such as chips. At present, the realization of intelligent transformation and functions such as automobiles, household appliances and factories is still restricted by the lack of cores, and the development of advanced processes is also restricted. Realizing the autonomy and controllability of core technologies is still an important development goal in China. In the future, the leading enterprises that first achieve the breakthrough of core technologies will have great comparative advantages, Will get more preferential policies and funds.
Investment suggestions:
It is recommended to pay attention to the CSI digital economy theme index (hereinafter referred to as digital economy Code: 931582. CSI). At the same time, it is recommended to pay attention to: first, electronic companies involved in information construction, such as Leaguer (Shenzhen) Microelectronics Corp(688589) , Zhuzhou Crrc Times Electric Co.Ltd(688187) involved in the digital transformation of electricity meters, street lamps and railway lines; Second, domestic CPU Guoxin technology for high-end computing and signal processing, domestic baseband chip Aojie technology, domestic AI Cambricon Technologies Corporation Limited(688256) , FPGA Unigroup Guoxin Microelectronics Co.Ltd(002049) ; Third, the third generation semiconductors and high-end power semiconductors in the field of new energy Sanan Optoelectronics Co.Ltd(600703) , Starpower Semiconductor Ltd(603290) , Macmic Science & Technology Co.Ltd(688711) , Tianyue advanced, etc.
Risk tips:
Electronic infrastructure has entered the technical highland of overcoming difficulties, and the technological development is less than expected.
