Heavy media articles, the voice of ministries and commissions, the hot market of individual stocks, and the researchers’ teleconference… The hot digital economy has been swiping the screen these two days.
The topic of digital economy has stirred up the A-share market in the past two days. The popularity of the market has kept analysts busy. Yesterday, a researcher of a fund company revealed that 13 digital economy teleconferences had been arranged in less than 2 hours last night.
In terms of the sector, on January 17, the digital economy led the big A-share rebound, and all lines under the sector broke out in an all-round way. The daily limit of more than 20 stocks rose in multiple segments such as digital currency, big data, network security and smart government. On the 18th, the digital economy sector continued yesterday’s rapid rise.
According to China stock market news, the digital economy sector rose 2.2% today, of which Shenzhen Tianyuan Dic Information Technology Co.Ltd(300047) rose 20.04%, Strait Innovation Internet Co.Ltd(300300) rose nearly 20%, and Surfilter Network Technology Co.Ltd(300311) , Wonders Information Co.Ltd(300168) , Inspur Software Co.Ltd(600756) , Shenzhen Asia Link Technology Development Co.Ltd(002316) rose more than 10%. The sector stocks with the largest net inflow of main funds are Surfilter Network Technology Co.Ltd(300311) , Wonders Information Co.Ltd(300168) , Shenzhen Asia Link Technology Development Co.Ltd(002316) , Digital China Group Co.Ltd(000034) and Strait Innovation Internet Co.Ltd(300300) , with inflows of 154 million, 119 million, 108 million, 107 million and 89.11 million respectively.
fire line interpretation of head Securities Research Institute
The sharp rise in the digital economy sector this week has something to do with the frequent occurrence of favorable policies in the industry over the weekend.
Not long ago, the State Council issued the “14th five year” digital economy development plan, which made it clear that by 2025, the digital economy will move towards a comprehensive expansion period, and the added value of the core industries of the digital economy will account for 10% of GDP. Looking forward to 2035, we will strive to form a unified, fair, orderly competition, mature and complete modern market system of digital economy, and the development level of digital economy ranks in the forefront of the world.
The website of Shanghai Stock Exchange also published an article entitled “the next 10 trillion track – digital economy” on January 13, which explained the development history of digital economy in detail, and mentioned that from the perspective of valuation, the weighted value of PE quantile of digital economy’s constituent stocks is 43%, while the PE quantile in recent five years is 38%, which is in a reasonably low position, and the growth is still excellent.
Wu Chao, director of China Securities Co.Ltd(601066) Research Institute, summarized and screened four directions that may be important at the landing level from relevant policies. One is the core key technology semiconductor; Second, new infrastructure; Third, pay attention to the implementation of specific applications, focusing on the integration with traditional industries; Finally, security and ecology. Wu Chao described his view on the current situation of the whole industry as “taking root”. She believes that although there is policy catalysis in the short term, in addition to the policy, the more critical thing is whether there can be more applications involving 5g and digitization this year. This landing is not at the level of performance and EPS, but more concerned about the landing of applications, the improvement of user penetration, and some industry explosion funds that may appear in the second half of the year.
is the digital economy in 2022 the new energy in 2021?
In terms of segments, on January 17, ETF in the digital economy sector rose sharply, including financial technology rose by 5.38%, cloud computing rose by 4.74%, artificial intelligence rose by 4.19% and smart cars rose by 3.25%. On the 18th, cloud computing and artificial intelligence continued to rise, with digital economy and semiconductor ETF up 1.16% and chip ETF up 0.73%.
Since the outbreak of the digital economy sector, not only major institutions have held teleconferences overnight, but also insiders have followed up and interpreted it on the social media platform.
Li Huiyong, deputy general manager of Huabao fund, believes that the digital economy in 2022 is the new energy in 2021. He believes that the digital economy includes digital industrialization and industrial digitization. The former focuses on technology and the latter focuses on application, which is the integration of digital economy and traditional industries.
The classification of digital economy is complex. According to BOC International Securities Research Report, digital infrastructure benefits from certainty, mainly including infrastructure investment such as IDC, Internet of things, 5g, Gigabit broadband and cloud computing; At the application level, smart city, smart medicine, digital government and third-generation security are expected to benefit from digital transformation in the long term.
Galaxy Securities believes that in the future, the digital economy will enter a new development cycle from virtual to real. The new digital infrastructure is supported by policy dividends and is expected to accelerate growth. The key recommendations are Yonyou Network Technology Co.Ltd(600588) , Shanghai Baosight Software Co.Ltd(600845) , Beijing Kingsoft Office Software Inc(688111) , Beijing Tongtech Co.Ltd(300379) , Runa Smart Equipment Co.Ltd(301129) , State Grid Information&Communication Co.Ltd(600131) , Trs Information Technology Co.Ltd(300229) , Servyou Software Group Co.Ltd(603171) .
as a core key technology, semiconductors need to focus on breakthrough evolution
As one of the core of digital infrastructure, semiconductor chips, how do analysts view this industry?
Huaan Securities Co.Ltd(600909) the research report points out that during the “14th five year plan” period, domestic substitution is the logic with the strongest certainty, and new opportunities for relevant new tracks continue to emerge. It is suggested to pay attention to leading companies in high-end logic chips, core link semiconductor equipment, core semiconductor materials, high-end industrial equipment and biotechnology.
China Securities Co.Ltd(601066) Wu Chao believes that semiconductors, as the core key technology, need key breakthroughs and evolution. This year, focusing on core key technologies, we should not only emphasize hardware, such as semiconductor materials and equipment or design enterprises, but also pay attention to the operating system and software ecology derived from this. This year’s localization should extend to the soft level, such as the recently discussed Huawei open source ecology.
In addition to the semiconductor sector that has attracted much attention, Citic Securities Company Limited(600030) said that digital scene construction is the basic space and facilities for building the meta universe, and computing power, game engine and digital content creativity are the three elements of digital scene construction.
Specifically, the refinement and diversification of digital scene construction are inseparable from the bottom support of computing power. It is recommended to pay attention to companies with leading R & D capabilities in semiconductor, 5g / 6G communication, cloud and edge computing, IDC and other fields. As a toolbox for digital scene construction, the game engine has brought increasing realism and immersion of digital scenes. It is recommended to pay attention to head game engine companies such as unity, Epic Games and game companies with strong R & D capabilities, such as Tencent holdings, Netease, roblox, heart company, Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) , Perfect World Co.Ltd(002624) , G-Bits Network Technology(Xiamen)Co.Ltd(603444) ; Content creativity is the drawing of digital scene construction. It is recommended to pay attention to platform IP content companies with rich high-quality IP resources, such as Yuewen group, BiliBili, Mango Excellent Media Co.Ltd(300413) , Col Digital Publishing Group Co.Ltd(300364) and digital vision technology companies deeply engaged in digital creativity display, such as Shanghai Fengyuzhu Culture Technology Co.Ltd(603466) .
