How To Test The "New Track" For The Old "China Build" Leader Organized By 500 Enterprises

The new capital construction is in the air.

On March 4, 2020, the Standing Committee of the Political Bureau of the CPC Central Committee held a meeting and proposed to increase investment in new infrastructure.

Subsequently, new infrastructure became a hot word in the capital market.

According to wind data, as of August 28, 1079 securities companies' research headlines mentioned the new infrastructure, of which 987 were issued after March 4.

"I think we should look at the new infrastructure in the dimension of at least 20 years." For example, Guan Qingyou, President of the Institute of financial research and chief economist, told reporters of the 21st century economic report.

Recently, his team has just completed a new infrastructure Research Report, which has sorted out 500 domestic new infrastructure related industry chain companies in detail, triggering extensive discussions in the A-share market.

The digital economy based on the new infrastructure is an excellent weapon for lane changing and overtaking, and a new driving force for future economic development.

According to the interview of 21st century economic report, this digital revolution without smoke of gunpowder is also facing new journey and new track for the old strong brands such as Huawei, Lenovo, BOE and Ziguang.

500 enterprises competing for new infrastructure

From the technical level, the new infrastructure includes seven industrial chains: 5g base station construction, new energy vehicle charging pile, big data center, artificial intelligence, industrial Internet, UHV, intercity high-speed rail and rail transit. The enterprises distributed in the industrial chain constitute the main body of technological innovation and industrial innovation of new infrastructure.

According to the subdivisions of the major industrial chains and the participation of about 500 companies in the above-mentioned report, 78% of these new infrastructure enterprises are listed and 72% are listed in A-share market.

In another dimension of data, 90% of enterprises focus on one industrial chain, and 10% of enterprises span multiple industrial chains.

The total market value of listed enterprises is about 26 trillion yuan, of which 38 enterprises have a market value of more than 100 billion yuan; the total revenue of enterprises in 2019 is about 12 trillion yuan, accounting for 13% of China's GDP in 2019.

In fact, from China made to China built, it is very important to grasp the new opportunities of digital economy and change lanes and overtake vehicles.

Back to the domestic data, from the industrial chain involved by the above enterprises, the number of enterprises participating in the industrial chain of artificial intelligence, charging pile and big data is the largest, more than 100.

In addition, there are 73 listed companies in the field of big data, with 5g, UHV, intercity high-speed rail and rail transit sectors accounting for a large proportion.

Among the seven major areas, the highest total market value of enterprises is the industrial Internet, followed by artificial intelligence and big data; but in terms of revenue, enterprises in the field of intercity high-speed rail and rail transit have created higher revenue; in terms of net profit, enterprises in the fields of industrial Internet, big data and artificial intelligence have better performance.

In fact, according to the 21st century economic reporter's understanding, the logic of different subdivisions is quite different.

Taking UHV, charging pile, intercity high-speed rail and rail transit as examples, these three are not "new" in digital innovation, but are upgrading the traditional infrastructure network with the help of new technologies.

Among the 53 listed enterprises, state-owned enterprises account for 29 seats, accounting for 56%; among the top 10 listed enterprises in the field, 7 are state-owned enterprises, accounting for 72% of the total market value of 10 enterprises.

5g, artificial intelligence, big data and industrial Internet track emphasize the technological innovation and industrial integration of enterprises in the digital direction. In this field, social capital is obviously more active. For example, in 5g field, 41 non-state-owned enterprises are among the 53 listed enterprises, accounting for 77%.

Similarly, in the field of artificial intelligence, among the 29 listed enterprises, non-state-owned enterprises account for 24, accounting for 83%; for big data and industrial Internet, non-state-owned enterprises account for 79% and 68% respectively.

"Landing" of new infrastructure construction is in progress

"There is a lot of support from the capital market for the new infrastructure. The new infrastructure is tangible. First, it depends on the profit, the second is the technical density or R & D, and the third is whether the business model can be realized. We are also constantly looking for the champion on every track Guanyou economic report told reporters in the 21st century.

The implementation of new infrastructure in different fields is making rapid progress, boosting the development of enterprises related to the industrial chain.

For example, the construction of 5g base station has gone through the planning period, construction period, operation and maintenance period and application period. In the construction period alone, it can promote the performance growth of dozens of Companies in the industrial chain, such as wireless equipment, base station equipment, small base station, transmission equipment, optical communication equipment, network engineering construction, etc.

In 5g era, the demand for base station filter is increasing greatly.

The 21st century economic reporter has learned that, in terms of the global filter market, Chinese products have accounted for more than 90% of the market. Dafu technology, a leading filter enterprise in China, has already realized localization of filter equipment, and 5g filter has been delivered in batch.

In terms of 5g base station construction cycle, how long can the relevant industry chain companies share the dividend intensively?

"I think the cycle could be three to five years. At present, each region is only an experimental network. If we want to realize the whole network coverage in China, it will take at least three and a half years to complete the coverage. After the coverage, the demand will also increase. For example, now there are many professional networks and smart city applications. When 5g is popularized, many applications can be implemented. In the past, without such demand, investment could not be pulled, and with this demand, investment would be boosted in turn. So I think it's going to be a three to five-year process. " Sun Shangchuan, chairman of Dafu technology, told the 21st century economic reporter on August 28.

With the promotion of infrastructure construction, more specific application scenarios are also landing.

On August 28, the relevant person in charge of Jinshan cloud told the reporter of the 21st century economic report that at present, it has laid out a number of key directions and fields including smart city, smart medical care and industrial Internet to help promote the development of relevant industry platforms and industrial chains. According to the characteristics of the new smart city construction, Jinshan cloud will give full play to its technical advantages, actively expand the ecology with its partners, and promote the development of domestic smart city construction based on large cities and focusing on small and medium-sized cities and county-level cities.

In 2019, Jinshan cloud reached strategic cooperation with Meizhou City in Guangdong Province to build a digital enterprise cloud service and industrial Internet service platform based on Meizhou, covering Guangdong and facing the whole country. Recently, Jinshan cloud and Liangxi District of Wuxi City have reached a strategic cooperation, and both sides will jointly build the China headquarters project of Jinshan cloud industrial Internet of things.

"In China, small and medium-sized cities and county-level cities have great development potential. The industrial structure of these places is relatively simple, and the application demand of new technology is more urgent. However, many small and medium-sized enterprises in the county market have not completed the basic work of informatization, and the IT construction funds are also very limited, so it is difficult to go to the cloud. With the experience accumulated in the transformation and upgrading of the service manufacturing industry and a large number of industry solutions, Jinshan cloud can customize the most suitable solutions for local enterprises and deliver them to the settled enterprises in the form of cloud services, so as to facilitate the digital transformation of enterprises. " Jinshan Yunfang told the 21st century economic reporter.

He said that China's cloud service market continues to grow at a high speed, and the industry demand is constantly increasing. With the deepening of enterprise digital transformation, the deep integration of information technology and all walks of life is the general trend.

Old brand enterprises should test new track

The 21st century economic reporter has learned that in the layout of the new infrastructure, in addition to the powerful comprehensive giants and the fast running vertical new sharp, some old strong players should also be paid attention to.

For these old strong players, the new infrastructure may mean upgrading the track before starting.

Some signals confirm that the old brand leaders have already possessed absolute advantages in their respective traditional fields, but they have not stopped the pace of innovation and progress and have seized the commanding height of development in the "new track".

For example, Lenovo has mastered the core technologies in the fields of artificial intelligence, enterprise cloud computing, 5g, equipment innovation, intelligent lifestyle Innovation and incubation, blockchain and other fields, driving the transformation of Lianyi, and gradually transforming from a traditional hardware provider to a technology provider.

"As early as April this year, at the annual pledge meeting, we made it clear internally that Lenovo's role in the new infrastructure was to become the core supplier of" smart infrastructure "and make greater contributions to China's economic upgrading and international competitiveness Lenovo Group said to the 21st century economic reporter on August 28.

It pointed out that among the seven major areas proposed by the central government to vigorously develop "new infrastructure", Lenovo's business covers four core technologies, namely 5g, artificial intelligence, data center and industrial Internet. At present, Lenovo has a full range of technology, products and solutions in these areas. In the aspect of industrial Internet, the software and hardware solutions of industrial Internet are completely independent and controllable. The new infrastructure coincides with Lenovo's 3S strategy and the "end edge cloud network intelligence" technology architecture.

The reporter learned that Lenovo Research Institute, established in 1999, vigorously develops artificial intelligence, enterprise cloud computing, 5g, equipment innovation, intelligent lifestyle Innovation and incubation, blockchain, etc., and has R & D centers in Beijing, Shanghai, Shenzhen, Japan and the United States. There are more than 10000 R & D personnel, accounting for about 16%. In 2019, the R & D investment is 9.2 billion yuan, accounting for 3% of the revenue. It has more than 29000 patents and patent applications in the world.

In addition, the core network processor commercial chips independently developed by Ziguang have been mass produced, and the high-end router will be released soon, which will have outstanding contribution advantages in the future 5g commercial application network construction, evolving from the original "business capability platform" to "cloud and intelligent platform".

BOE's OLED panel has been supplied in mass production, and has made a major breakthrough in qled display technology. It has actively entered the chip industry, vigorously deployed the Internet of things, and transformed itself from a display device manufacturer to an intelligent Internet of things service provider. 21st century business reporter learned from the company's relevant responsible person that the company's medical industry is also building a new management process of "prevention, diagnosis, treatment, health and education" of the new Internet of things.

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