The digital economy blockbuster document was released, and this year's civil aviation industry strives to turn around losses and increase profits丨 Tomorrow's theme preview

(1) The release of the digital economy blockbuster document, 5G applications will accelerate the outbreak

The State Council recently issued the "14th Five-Year Plan for the Development of the Digital Economy" (hereinafter referred to as the "Plan"). The "Plan" proposes that by 2025, the added value of the core industries of the digital economy will account for 10% of GDP; the number of gigabit broadband users will be more than 9 times that of 2020; and the penetration rate of industrial Internet platform applications will increase by 30 percentage points to 45% compared with 2020. From the specific content point of view, the "Planning" involves the construction of 5G base stations and big data, as well as the construction of key industrial supply chain systems such as new energy vehicles, artificial intelligence, and industrial Internet, which are all important components of new infrastructure.

China Merchants Securities said that 2022 or usher in the first peak of China's 5G infrastructure, 5G applications will be the communications industry's biggest expectation in 2022. The slope of the maturity curve of the three major applications of VR, intelligent networked vehicles and industrial Internet will increase significantly, and the application landing will form a positive pull on the supporting hardware (such as communication/positioning modules, controllers, connectors, etc.), traffic operation (such as servers/switches, optical modules, data centers, telecom operations, etc.), software platforms (industrial software/industrial platforms, etc.), and the role of 5G in the digital economy era has begun to appear. It is recommended to select ICT new infrastructure stocks, grasp the new application track of 5G, and recommend ZTE, Tianfu Communications, Tsinghua Unigroup, etc.

(2) Multiple factors support the stabilization and recovery of silicon prices, and terminal demand is expected to continue to improve

According to the data released by the Silicon Industry Branch, the domestic monocrystalline compound feeding price range this week was 230-242,000 yuan / ton, and the average transaction price rose to 234,600 yuan / ton, an increase of 1.21% week-on-week; the price range of monocrystalline dense materials was 228,000-24.0 million yuan / ton, and the average transaction price rose to 232,500 yuan / ton, a week-on-week increase of 1.48%. This week's silicon prices began to stabilize and rise in the stimulus factors: on the one hand, silicon wafer prices have shown a steady upward trend, in order to meet the growth of downstream demand, silicon wafer enterprise operating rate has steadily increased, first-line enterprises have gradually increased to about 60%-70%; on the other hand, near the Spring Festival, did not avoid holiday logistics and transportation restrictions, affecting the supply of relatively strong demand, this week's signing also includes some hoarding demand.

Zhongtai Securities said that as the shortest supply of silicon materials in the industrial chain, the price fluctuations are not caused by supply disturbances, but by potential demand exceeding expectations. The agency believes that terminal demand is expected to continue to improve. It is expected that global photovoltaic demand will reach more than 210-230GW in 2022. You can pay attention to JA Technology, Oriental Sunrise and so on.

(3) In 2022, China's civil aviation industry is expected to embark on the overall track of reversing losses and increasing profits and resuming development

Recently, Feng Zhenglin, secretary of the party group and director of the Civil Aviation Administration, said that 2022 is a key year for the development of civil aviation in the "14th Five-Year Plan", which is related to the recovery and development of civil aviation and the foundation for the construction of a strong civil aviation country in many fields. In the face of arduous and heavy reform and development tasks, and in the face of many uncertainties under the epidemic, the party group of the Civil Aviation Administration of China has listened to the opinions of all parties inside and outside the industry, carefully analyzed the changes in civil aviation transport production under the normalization of epidemic prevention and control, and made a basic judgment that the development situation of civil aviation next year is "first low and then high". In the absence of repeated fluctuations in the epidemic, China's civil aviation industry is expected to embark on the overall track of reversing losses and increasing profits and resuming development in 2022.

Shenwan Hongyuan pointed out that it is firmly optimistic about the investment opportunities in the aero engine industry chain, and it is recommended to focus on the leading enterprises in all aspects of the aviation engine industry chain. Recommend Hangfa Power and Hangfa Control in the field of assembly and subsystem, AVIC Heavy Machinery, Aerospace Technology, Hangya Technology, Parker New Materials, etc. in the field of parts and components.

(4) The Ministry of Industry and Information Technology promotes the development of intelligent and connected vehicles, and institutions are optimistic about the trend of intelligence

The Ministry of Industry and Information Technology said on the 12th that it will go all out to maintain the stable and healthy operation of the automobile industry, increase efforts to promote the development of new energy vehicles and intelligent networked vehicles, and strive to improve the stability and competitiveness of the industrial chain supply chain.

CITIC Securities believes that with the continuous improvement of the penetration rate of automobile electrification, the era of intelligence is accelerating. Considering that the subdivision products have passed the vehicle specification level verification cycle is relatively long, it is optimistic about the investment opportunities of the head enterprises. Tianfeng Securities believes that the sales of new energy passenger cars are expected to exceed 5.5 million units in 2022. With the gradual easing of chip shortages and the improvement of the supply side, the automotive industry has gradually entered the storage cycle. It is recommended to pay attention to BYD, Great Wall Motor, GAC Group, etc.