Summary of important evening news

1. Release the innovative development plan of industrial Internet and support the construction of a 5G fully connected factory.

According to the website of the Ministry of Industry and Information Technology, the Ministry of Industry and Information Technology recently issued the "Industrial Internet Innovation and Development Action Plan (202 1-2023)", proposing to support industrial enterprises to build 5G fully connected factories, promote the penetration of 5G applications from peripheral auxiliary links to core production links, and accelerate the promotion of typical scenarios; By 2023, the national industrial internet big data center system will be basically built, and 20 regional sub-centers and 10 industry-level sub-centers will be built. We will build a high-quality industry micro-service and industry APP resource library, and the number of industry APPs will reach 500,000.

Comments: In recent years, the rapid development of China's industrial Internet has gradually become an important driving force for high-quality economic and social development. During the period of epidemic prevention and control, the industrial Internet helps enterprises to resume work and production and upgrade industrial intelligence with the help of real-time perception and data interaction. With the acceleration of new infrastructure construction, industrial Internet will expand a broader market space.

A-share related concept stocks mainly include Hyde Control (002 184), Tuosida (300607) and Dongtu Technology (300353).

2. Memory will continue to lead the semiconductor terminal market this year, with strong demand.

With the rapid development of consumer electronics and large-scale data centers brought by technologies such as 5G, AI and IoT, the market demand for storage will become stronger and stronger. "We believe that DRAM has come out of the lowest valley of the industry cycle. With the continuous development of the global digital economy, as well as the promotion of artificial intelligence, cloud computing, 5G, and smart edges (including smart cars), it is expected that DRAM in 202 1 (natural year) will be improved. " Recently, Sanjay Mehrotra, CEO of Micron Technology, said at the financial report meeting of the first fiscal quarter of 20021fiscal year (as of February 3, 2020). Since 20 16, rising memory prices have made Samsung beat Intel and become the world's largest semiconductor manufacturer. From September 20 18, memory began to decline. It was not until the third quarter of 20 19 that the memory market began to pick up again and became the fastest growing market segment in the semiconductor industry. Third-party organizations predict that the memory market in 20021year will reach $654.38+0353 billion, a year-on-year increase of 654.38+03%.

Focus on big data+cloud computing+data center.

3. Preparation of the first production line of rare earth nano-thermal insulation materials in China.

It is learned from Baotou Rare Earth High-tech Zone that Baotou Rare Earth Research Institute has reached a technology transfer agreement with a technology company in Chengdu, preparing to establish the first pilot production demonstration line with an annual output of 800 kg of rare earth nano thermal insulation slurry in China, with an initial investment of 20 million yuan.

For a long time, the core technology and intellectual property rights of insulating glass coating materials have been mastered by developed countries such as the United States, Japan and Europe, but the field of insulating glass coating materials in China is still blank. With the application of rare earth nano-thermal insulation agent in glass coating, the performance index of the product is equivalent to that of foreign products, even better than that of foreign products, which has achieved "overtaking in corners" in technical level, filled the gap of domestic thermal insulation glass coating materials and completely replaced imported products.

Baotou Rare Earth Research Institute, a subsidiary of Northern Rare Earth (60011), is the largest comprehensive rare earth science and technology research and development institution in China.

Antai Technology (000969) products such as rare earth permanent magnet products, nanocrystalline tapes and iron core products, and tungsten and molybdenum products are directly applied to various motors and audio fields of new energy vehicles;

Zhongke Sanhuan (000970) is the second largest NdFeB permanent magnet manufacturer in China.

4. The process of approval and construction of 4.UHV projects has been accelerated, and the industrial chain has benefited.

Recently, Jingmen-Wuhan 1000 kV UHV AC power transmission and transformation project was approved by Hubei Development and Reform Commission, and will soon enter the substantive construction stage. In addition, the Baihetan-Jiangsu ±800kV UHV-DC line project has also been piloted in Wuxi, Jiangsu recently, which indicates that the Baihetan-Sute DC project has entered a comprehensive construction stage. Previously, the bidding for new project approval was officially launched in the fourth quarter of 2020. Considering the sustainable development of other projects, it is expected that there will be continuous support for the subsequent UHV construction.

Analysts believe that the 14th Five-Year Plan is an important development stage for China to strengthen the transmission of electricity from the west to the east, increase the proportion of clean energy consumption and consolidate energy security. Power grid enterprises shoulder the important mission of stimulating domestic demand by investment, building a strong power grid and improving the green energy transmission capacity in the west, and will vigorously promote the approval and construction of UHV transmission channels, and the UHV equipment sector will usher in a stronger demand cycle. According to the White Paper on Investment Opportunities of UHV Industry Development and "New Infrastructure" issued by CCID Consulting, by 2022, the total investment scale driven by the relevant upstream and downstream links of China UHV industry and its industrial chain will reach 4 14 billion yuan; By 2025, the total investment scale of UHV industry and its driving industries will reach 587 billion yuan.

Industrial chain companies will fully benefit.

Power transmission and transformation business of Baobian Electric (600550) is the company's traditional advantage business, especially in the fields of high-voltage and large-capacity transformers and UHV AC and DC transformers.

TBEA (600089) is one of the largest manufacturers of high voltage transformers and wires and cables in China.

China xd (601179) won the bid for Baihetan-Jiangsu UHV project in 2020, with the bid amount of13.29 million yuan.

5. Accelerate the intelligent construction of coal mines and release the orders of equipment suppliers.

Recently, in order to implement the Guiding Opinions on Accelerating the Intelligent Development of Coal Mines (Development and Reform Energy [2020] No.283) and standardize the construction and management of intelligent coal mines, the National Energy Administration and the State Mine Safety Supervision Bureau jointly issued the Interim Measures for the Construction and Management of Intelligent Demonstration Coal Mines and the Interim Measures for the Management of Intelligent Expert Database of Coal Mines.

Since 20 19, China National Energy Administration and other departments and large coal enterprises have issued relevant policies to vigorously promote the intelligent construction of coal mines. In February 2020, China National Development and Reform Commission and other eight departments jointly issued the Guiding Opinions on Accelerating the Intelligent Development of Coal Mines. The opinion pointed 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 intelligent construction of coal mines is speeding up, and the leading benefit policy orders have double dividends.

Tiandi Science and Technology (600582) has strong scientific research strength and high comprehensive strength of coal mine intelligence;

Mei Ansen (300275) and Alibaba Cloud jointly launched the overall solution of coal mine data intelligence system, which promoted the implementation of big data, artificial intelligence, smart parks and Internet-related projects in coal safety production.

6.LG confirmed that it will release the world's first mass-produced scrolling mobile phone this year.

Recently, LG announced in the promo of CES202 1 new product launch conference that the upcoming rolling screen mobile phone LG Rollable will adopt the flexible organic light-emitting diode display developed by BOE. LG Rollable uses what LG calls a "unique resizable screen". By sliding in and out to change the surface area, the screen can be changed from the size of a mobile phone to the size of a small tablet computer, and the size can be expanded from 6.8 inches to 7.4 inches. TCL also launched a scrolling screen on CES202 1. The screen size of TCL scrolling screen is 6.7 inches, which is suitable for smart phones. The top of the screen can be stretched to 7.8 inches, changing from a smartphone shape to a phablet shape. As early as the fourth quarter of last year, OPPO released the OPPOX 202 1 scrolling screen concept machine, but did not announce the listing date.

Comments: Scrolling screen is another revolutionary new form of mobile phone after folding screen, which has aroused heated discussion in the industry. Analysts believe that driven by new applications such as foldable mobile phones and scrolling screen mobile phones, the global organic light-emitting diode panels are increasing rapidly. According to DSCC forecast, the global market will reach 50.3 billion dollars in 2023. The investment in domestic OLED panel production line exceeds 500 billion yuan, and the estimated production capacity exceeds 500,000 pieces/month. The core patents of organic light-emitting diodes have expired one after another, which has accelerated the domestic substitution.

The products of Longhua Technology (300263) are mainly used for flat panels, flexible screens and other display panels, and the main customers include BOE, tianma microelectronics, TCL Huaxing and many other companies.

Shentianma A(000050) provides a flexible organic light-emitting diode panel for Xiaomi.

7. The market price of viscose staple fiber continues to rise, and the industry is expected to usher in a cyclical recovery.

According to Baichuan information data, the domestic market price of viscose staple fiber continued to rise after the holiday. 65438+1October 13, the focus of viscose staple fiber market continued to move up, and new prices of high-end mainstream manufacturers were introduced, and the price was fixed at 12800 yuan/ton. The mainstream negotiation price in the market continues to increase. At present, the middle-end negotiation intention price is 12400- 12500 yuan/ton, and a small amount is heard at the meeting place. As of June 5438+03, the price of viscose staple fiber has increased by nearly 8% since the beginning of the year, and by nearly 20% since February 65438. At present, the supply of viscose staple fiber market is very hot, the factory is limited to signing at low prices, and high-priced goods need to be queued, and some orders are placed after the Spring Festival.

Galaxy Securities research report pointed out that viscose staple fiber industry is expected to usher in a cyclical recovery. On the supply side, the planned expansion projects in previous years have basically been put into production (or completed but stopped) by the end of 20 19, and there is basically no new capacity in the future. 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 widening of the price difference makes viscose staple fiber more replaceable. On the demand side, with the growth of clothing sales brought by the prosperity of textile and clothing industry, it is expected that the demand for viscose staple fiber will keep growing. After more than two years of economic downturn, under the background of mismatch between supply and demand, the industry is expected to usher in a cyclical recovery, and the price of viscose staple fiber is expected to continue to rise.

Aoyang Health (002 172) produces 370,000 tons of viscose staple fiber annually;

Zhongtai Chemical (002092) Company's viscose staple fiber production capacity is 730,000 tons/year;

Sanyou Chemical (600409) viscose staple fiber production capacity is 780,000 tons/year.

8. The ceramic substrate leader announced a price increase, and the volume and price of the passive component industry chain rose.

According to media reports, Sanhuan Group, the global leader in upstream materials of SMD resistors, announced that it would raise the price by at least 15%, and Jiu Hao in the same industry is expected to follow suit. At present, the supply of SMD resistors has been quite tight, and the key materials in the upstream have soared, which has ignited the fire of price adjustment of SMD resistors manufacturers such as Guo Ju, and the industrial chain will increase prices in an all-round way.

Guo Jin Securities believes that the passive component industry will gradually enter the replenishment cycle in 2020, and it is predicted that the demand for 202 1 will continue to improve, with a year-on-year increase of 1 1%. In addition, under the domestic substitution trend, terminal manufacturers began to gradually transfer the supply chain to China, and domestic passive component enterprises accelerated their production expansion. We are optimistic about Shunluo Electronics (002 138), which produces chip inductance components, and Aihua Group (603989), which produces lighting aluminum electrolytic capacitors.

9. Before performance improvement:

Bochuang Technology (300548) increased by 950% to 1 100%, and the company's profit growth was mainly reflected in the active device business such as 10G PON optical module and data center optical module.

Xinlong Health (002 105) increased by 245.74% to 3 17.28% in advance, due to the substantial increase in orders and shipments of outdoor sporting goods and bicycle spare parts.

Riyue shares (6032 18) increased by 85% to 105% in advance, because the downstream wind power industry and injection molding machine industry have high prosperity and sufficient orders.

Shentianma A(000050) increased by 74.83% to 98.95%. The company has continuously increased the shipment ratio of high value-added products, superimposed with 5G propulsion drive, and the demand for main products is strong.

Wan Liyang (002434) will increase by 50% to 80%. The company's automobile transmission sales increased by 65,438+06.28% year-on-year, among which the sales of G series high-end transmissions for commercial vehicles increased by 67.565,438+0% year-on-year, and CVT for passenger cars increased by 87.69% year-on-year.

10. Selected research reports

Computer industry: accelerate the listing process of industrial core assets, focusing on 4 shares.

Investment suggestion: In the next three years, newly-created industries will usher in a golden period of development, and the process of newly-created industries, whether government or industry, is obviously accelerating. We focus on: Jinshan Office, the leading WPS manufacturer in China (jointly covered by small and medium-sized groups), Dongfang Tong, the leading middleware in China, and Zhongke Shuguang, the leading server in China. Other beneficiaries include: China Software, Chengmai Technology, China Great Wall, Jingjiawei …

Key investment points: From February 4th, 2020 to February 4th, 2002 1, 65438+ 10/,the Shenwan computer index dropped by 5.45%, ranking 21in the whole industry. From 65438+ February 4th to 202 1, 65438+1October1,in 2020, the Shanghai Composite Index rose 2.60%, the Shanghai and Shenzhen 300 Index rose 7.60%, and the Growth Enterprise Market Index rose1. Shenwan Computer Index fell by 5.45%, 8.05pct behind Shanghai Composite Index and 3.05 pct behind Shanghai and Shenzhen 300 Index1,ranking 2 1 in Shenwan's first-class industry.

The overall valuation is in the top 23% and the median valuation is in the top 45%. By 202 1, 1, 1 1, the overall valuation of the computer sector was 62.87 times, ranking first in history at 22.77%. The estimated median value is 55.40 times, and it is 45.35% after history. The valuation of the computer sector relative to the Shanghai and Shenzhen 300 Index is 1.70 times, which is lower than 2.44 times of last month and also lower than the historical median 1.78 times. During the period of 2020 1~ 1 1, China's software industry continued to recover, and the growth rate of the industry tended to be stable. During the period of 1~ 1 1 in 2020, China's software and information technology service industry continued to recover, the industry growth rate stabilized, and the profit growth rate of software business declined slightly. Major sub-sectors achieved rapid growth, with the fastest growth in integrated circuit design. The monthly growth rate of industrial software, information security and cloud services was significantly faster than that of the same period last year.

Investment perspective. In the past month, the market index has risen steadily, the computer industry index has been weak, and individual stocks have obviously differentiated during the transition from 2020 to 202 1 point. On the one hand, the decline in the median valuation of the sector is in stark contrast to the continuous upward valuation of the Shanghai and Shenzhen 300, and the performance of heavyweights is obviously better than the industry average. On the other hand, the high boom track valuation remains high, which shows the market's expectation of performance cash. At present, the trend of institutional cohesion is still obvious, and the pursuit of certainty by long-term funds is expected to continue, but some assets with higher certainty are at the top of historical valuation, and the growth is expected to regain market attention. Therefore, we suggest paying attention to leading companies in various sub-sectors with high certainty of growth space and corresponding time nodes, especially those with advantages in user groups and R&D investment, such as Hikvision, Jinshan Office, Guanglianda, UFIDA, Chianxin, Zhongke Chuangda and Shen Xin. Maintain the industry's "synchronous market" rating.

Risk warning: the development of the industry is less than expected, the policies are less than expected, and international disputes aggravate the risks.

The above is only a summary of public information and should not be used as a basis for investment and trading. You should operate accordingly, at your own risk!