1. Industrial Internet innovation and development plan issued to support the construction of 5G fully connected factories
According to the Ministry of Industry and Information Technology website, the Ministry of Industry and Information Technology has issued the "Industrial Internet Innovation and Development Action Plan (2021-2023)", "the plan" puts forward to support the construction of 5G fully connected factories of industrial enterprises to promote 5G applications from the periphery of the auxiliary links to the core of the production links to penetrate, accelerate the promotion of typical scenes. Accelerate the promotion of typical scenes; by 2023, basically complete the national industrial Internet big data center system, and build 20 regional-level sub-centers and 10 industry-level sub-centers. The construction of high-quality industrial micro-services and industrial APP resource pools, the number of industrial APP reached 500,000.
Comment: In recent years, China's rapid development of industrial Internet has gradually become an important driving force to promote the high-quality development of the economy and society. During the epidemic prevention and control, with the help of real-time sensing, data interaction, etc., the industrial Internet helps enterprises to resume work and production, and industrial intelligence upgrading. With the accelerated promotion of new infrastructure construction, the industrial Internet will expand a broader market space.
A share related conceptual stocks are mainly Haider control (002184), toppers (300607), Dongtu technology (300353) and so on.
2. Memory will continue to lead the semiconductor end-market demand is strong this year
With the rapid development of consumer electronics and large-scale data centers brought about by technologies such as 5G, AI, and IoT, the market demand for storage will become increasingly white-hot. "We believe DRAM has come out of the nadir of the industry cycle. DRAM is expected to improve in 2021 (the natural year) as the world continues to grow its digital economy and driven by artificial intelligence, cloud computing, 5G and the smart edge, including smart cars." Recently, Micron Technology CEO Sanjay Mehrotra said in the first fiscal quarter of 2021 (ending December 3, 2020) earnings conference. Since 2016, the continuous rise in memory prices had made Samsung beat Intel to become the world's largest semiconductor maker. From September 2018, memory began to go downhill. Until the third quarter of 2019 fell to a low point, the memory market began to pick up again, becoming the fastest growing segment of the semiconductor industry. Third-party organizations expect the memory market to reach $135.3 billion in 2021, an increase of 13% year-on-year.
Attention to big data + cloud computing + data center
3. The first domestic rare earth nano-breakage materials production line to build
From the Baotou Rare Earth Hi-Tech Zone was informed that the Baotou Rare Earth Research Institute and Chengdu reached a technology transfer agreement with a science and technology limited company in preparation for the establishment of the first domestic monthly output of 800 kilograms of rare earth nano-breakage slurry pilot production demonstration line is expected to be invested in the first phase of 20 million yuan. 20 million yuan.
All along, the core technology and intellectual property rights of thermal cut-off glass coating materials are held by the United States, Japan, Europe and other developed countries, China is still in the field of thermal cut-off glass coating materials in the blank. With the rare earth nano thermal breakers in the glass coating application, product performance indicators and foreign products, or even better than foreign products, in the technical level to realize the "bend the road to overtake", to fill the blank of the domestic thermal break glass coating materials, can completely replace imported products.
The Baotou Rare Earth Research Institute of Northern Rare Earths (600111) is China's largest comprehensive rare earth technology research and development institutions;
Antares Technology (000969) rare earth permanent magnet products, nanocrystalline strips and core products and tungsten and molybdenum products, etc., are directly applied to new energy automotive motors and audio and other fields;
The Zhongke Sanyuan (000970) is the world's second, China's largest, and the most popular, and the world's largest, and the world's largest, and the largest, and the largest, and most popular. ) is the world's second and China's largest producer of neodymium-iron-boron (NdFeB) permanent magnets.
4. Extra-high voltage project approval and construction process to speed up, the industry chain benefits
A few days ago, Jingmen to Wuhan 1000 kV extra-high voltage AC power transmission project approved by the Hubei Provincial Development and Reform Commission approval, is about to enter the substantive construction stage. In addition, also in the near future, Baihetan-Jiangsu 800 kV UHV DC line project in Wuxi, Jiangsu Province to carry out the first base of the line pilot, which marks the Baihetan into the Su UHV DC project into the full construction stage. Previously, in the fourth quarter of 2020, the official launch of the new project approval bidding, taking into account the remaining project work in succession, it is expected that the follow-up UHV construction with sustained support.
Analysts believe that the 14th Five-Year Plan is to strengthen China's western power transmission to the east, improve the proportion of clean energy consumption, consolidate energy security and protection of an important stage of development, the grid enterprise shoulder investment to stimulate domestic demand and construction of a strong grid, enhance the ability of the western green energy transmission capacity of the important mission will vigorously promote the approval of UHV transmission corridor, construction, ultra-high voltage equipment plate will usher in a stronger demand cycle. According to the "new infrastructure" of the extra-high voltage industry development and investment opportunities white paper released by Saidi consultants, it is expected that by 2022, China's extra-high voltage industry and its industry chain upstream and downstream of the relevant supporting links will be driven by the total scale of investment will reach 414 billion yuan; by 2025, the extra-high voltage industry and its driven by the industry as a whole, the scale of investment will reach 587 billion yuan. reach 587 billion yuan.
The industrial chain companies will be fully benefited.
Baochang Electric (600550) power transmission business is the company's traditional strengths, especially in the high-voltage, large-capacity transformers and ultra-high voltage AC and DC transformer manufacturing has a strong market competitiveness;
TBEA (600089) is one of the largest manufacturers of high-voltage transformers and wires and cables in China;
China Xidian (601179) won the bid for 202020, and its driven by the industry investment will reach 587 billion yuan. 601179) won the bid for the 2020 Baihetan-Jiangsu UHV project, with a winning bid of 1.329 billion yuan.
5. Coal mine intelligent construction speed up, equipment business order release can be expected
Recently, in order to implement the "guidance on accelerating the development of coal mine intelligence" (Development and Reform Energy 〔2020〕 No. 283), standardized to carry out the management of the construction of intelligent coal mines, the National Energy Board, the State Administration of Mine Safety jointly issued the "Interim Measures for the Management of Intelligent Demonstration Coal Mines Construction" and "Interim Measures for the Management of Coal Mine Intelligence Expert Pool". Interim Measures for the Management of Coal Mine Intelligentization Expert Database.
Since 2019, China's National Energy Administration and other departments, and large coal enterprises around the world have issued relevant policies to vigorously promote the construction of coal mine intelligence.2020 In February 2020, China's National Development and Reform Commission and other eight departments jointly issued the Guiding Opinions on Accelerating the Development of Coal Mine Intelligence. The opinions point out that by the end of 2025, China's large coal mines and mines with serious disasters will basically realize intelligence. Analysts judge that the construction of coal mine intelligence accelerated, leading to benefit from the policy order double dividend.
Heaven and earth science and technology (600582) strong scientific research, has a high coal mine intelligent comprehensive strength;
Mei Ansen (300275) and Ali cloud jointly launched coal mine data intelligent system overall solution, *** with the advancement of coal safety production of big data, artificial intelligence, intelligent parks, coal industry Internet related projects landing.
6.LG confirms: the world's first mass-produced scroll screen phone on sale this year
Recently, LG teased the upcoming scroll screen phone LG Rollable in a promotional video for the CES2021 new product launch, which will use a flexible OLED display developed by BOE.LG Rollable uses what LG calls a "unique resizable screen" that changes surface area by sliding in and out, the screen can be transformed from the size of a phone to the size of a small tablet, and the size can be unfolded from 6.8 inches to 7.4 inches.TCL is also unveiling a rollable screen at CES2021.The TCL Rollable screen measures 6.7 inches and is suitable for Smartphone use, the top of the screen can be expanded to 7.8 inches by stretching the form, from the smartphone form into a tablet phone form. And as early as the fourth quarter of last year, OPPO released OPPOX 2021 scroll screen concept machine, but did not announce the date of launch.
Comment: scroll screen is another revolutionary new cell phone form since the folding screen, triggering a hot debate in the industry. Analysts believe that the global OLED panels are rapidly discharging under the leadership of foldable phones, scroll screen phones and other new applications. According to DSCC, the global market size will reach $50.3 billion in 2023. Domestic OLED panel production line investment amounted to more than 500 billion yuan, production capacity is expected to more than 500 thousand pieces / month. OLED core patents expire one after another, accelerating the localization of substitution.
Longhua Technology (300263) target material products are mainly used for flat screen, flexible screen and other types of display panels, the main customers, including the industry's leading enterprises BOE, Pegasus Microelectronics, TCL Huaxing and a number of other companies;
Shenzhen Pegasus A (000050) to provide flexible OLED panels for millet, etc.
7.7% of the OLED panel production line investment, the production capacity is expected to exceed 500 thousand pieces per month.
7. Viscose staple fiber market prices continue to rise, the industry is expected to usher in a cyclical recovery
According to BCinks information data, after the holiday, the domestic viscose staple fiber market prices continue to rise. 13 January, the viscose staple fiber market center of gravity continues to move up, high-end mainstream mills introduced new prices, the price of the implementation of the 12,800 yuan/tonne, the mainstream of the market negotiation prices continue to move up, the current mid-range negotiation intentions Prices in the 12400-12500 yuan / ton acceptance limit signing, the field heard a small number of signing control in the 12200-12300 yuan / ton, high-end negotiation prices rose to 12800 yuan / ton acceptance, limited signing. As of the 13th, viscose staple fiber prices year-to-date cumulative increase has been nearly 8%, so far in December has risen nearly 20%. At present, the viscose staple fiber market supplies are very sought after, the factory low price limit signing, high prices need to queue up to take goods, part of the order row to the Spring Festival.
Galaxy Securities research report pointed out that the viscose staple fiber industry is expected to usher in a cyclical recovery. On the supply side, the previous years of planning clear expansion projects to the end of 2019 has been basically put into operation (or built but stopped), the future basically no new capacity. At present, the price difference between cotton and viscose staple fiber is nearly 4000 yuan / ton, reaching the highest range in the past five years, the price difference expansion makes viscose staple fiber alternative higher. On the demand side, with the upturn in the textile and apparel industry to bring growth in clothing sales, viscose staple fiber demand is expected to maintain growth. The industry after 2 years of boom down cycle, in the context of supply and demand mismatch, the industry is expected to usher in a cyclical recovery, viscose staple fiber prices are expected to continue to rise.
Aoyang Health (002172) has a viscose staple fiber 370,000 tons / year capacity;
Zhongtai Chemical (002092) company viscose staple fiber production capacity of 730,000 tons / year;
Sanyou Chemical (600409) has a viscose staple fiber production capacity of 780,000 tons / year.
8. Ceramic substrate leader announced a price increase, passive components industry chain volume and price rise
According to media reports, the global chip resistor upstream materials alumina ceramic substrate leader Three Ring Group announced a price increase of at least 15%, with the industry's Nine Howe is expected to follow. At present, the supply of chip resistors has been quite tight, and the upstream key materials have risen sharply, igniting the spark of price adjustments by chip resistor manufacturers such as Giant, and the industry chain will be in full price hike.
Gujin Securities believes that in 2020, the passive component industry gradually entered the inventory replenishment cycle, is expected to 2021 demand continues to be good, 11% year-on-year growth. In addition, under the trend of domestic substitution, terminal manufacturers began to gradually transfer the supply chain to the domestic, domestic passive components enterprises to accelerate the expansion of production. Look forward to the production of chip inductive components of the Shunluo Electronics (002138), the production of lighting aluminum electrolytic capacitors Aiwa Group (603989) and other companies.
9. Performance rise:
Bochuang Technology (300548) is expected to increase 950% to 1100%, the company's profit growth is mainly reflected in the 10G PON optical modules and data center optical modules and other active components business.
Xinlong Health (002105) increased 245.74% to 317.28%, due to outdoor sports products and bicycle parts and accessories orders and shipments increased significantly.
Sun Moon (603218) increased by 85% to 105%, due to the downstream wind power industry and injection molding machine industry are in a high degree of prosperity, orders are sufficient.
Deep Tianma A (000050) increase of 74.83% to 98.95%, the company continues to increase the proportion of high value-added product shipments, superimposed on the 5G promotion drive, the main products in strong demand.
Miles Yang (002434) is expected to increase 50% to 80%. The company's automotive transmission sales increased by 16.28% year-on-year, of which commercial vehicle G series high-end transmission sales increased by 67.51% year-on-year, passenger car CVT increased by 87.69% year-on-year.
10. research report selection
Computer industry: the industry's core assets to speed up the listing process pay attention to the 4 shares
investment advice in the next three years, Xinchuang industry will usher in a golden period of development, both the government and the industry, the process of Xinchuang showed a marked acceleration of the trend. We focus on: domestic WPS leading manufacturer Kingsoft Office (with small and medium-sized group joint coverage), domestic middleware leader Dongfangtong, domestic PDF leading Foxit software, domestic server leader Zhongke Dawning. Other beneficiaries include: China Software, Chengmai technology, the Great Wall of China, Jingjia micro ...
Investment highlights: December 4, 2020 ~ January 11, 2021, the Shenwan Computer Index fell 5.45%, ranked 21st in the industry. December 4, 2020 ~ January 11, 2021, the Shanghai Composite Index rose 2.60%, CSI 300 index rose 7.60%, GEM index rose 14.02%, SMB index rose 11.59%, Shenwan computer index fell 5.45%, lagging behind the SSE composite index by 8.05 pct, lagging behind the CSI 300 index by 13.05 pct, and ranked 21st among the first-level industries in the Shenwan.
Overall valuation is in the top 23% of the history, and the median valuation is in the top 23% of the history, and the median valuation is in the top 23% of the history, and the overall valuation is in the top 23% of the history. As of January 11, 2021, the overall valuation of computer sector is 62.87 times, which is in 22.77% of the top tier of history; the median valuation is 55.40 times, which is in 45.35% of the bottom tier of history. The valuation of computer sector relative to CSI 300 Index is 1.70 times, lower than last month's 2.44 times and lower than historical median of 1.78 times. From January to November 2020, China's software industry continued to recover, and the industry growth rate stabilized. from January to November 2020, China's software and information technology service industry continued to recover, and the industry growth rate stabilized, and the growth rate of profit from software business slightly declined. The main segments of the field to achieve faster growth, the fastest growth in integrated circuit design, industrial software, information security, cloud services, the month-on-month growth rate is obviously faster.
Investment view. In recent months, the broad market index rose steadily, the computer industry index performance was weak, individual stocks in the transition from 2020 to 2021 in the obvious differentiation. On the one hand, the decline in the median valuation of the sector contrasts sharply with the continued upward trend of the CSI 300 valuation, and the weighted stocks have significantly outperformed the industry average. On the other hand, the valuation of the high-trend tracks remains high, showing the market's expectation of performance realization. At this point in time, the trend of institutional group hugging is still relatively obvious, and the pursuit of certainty by long-term funds is expected to continue, but some of the high-certainty assets are at the top of the historical valuation, and growth is expected to regain the market's attention. Therefore, we recommend focusing on the growth space and the corresponding time nodes of higher certainty of the leading companies in various segments, especially in the user base and R & D investment has the advantage of the standard, such as Hikvision, Kingsoft Office, Quanta, UFIDA, Qi Anxin, China Science and Technology Corporation, deep letter service. Maintain the industry "synchronized with the market" rating.
Risk tips: industry development is not as expected, the policy is not as expected, international disputes intensify the risk.
The above is only a summary of public information, should not be used as a basis for investment in the purchase and sale, according to which the operation is at your own risk!