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Financial Investment News reporter Lin Ke
A-shares have performed poorly this week, although the Shanghai Composite Index has rebounded under the pull of heavyweights, but small, medium and micro cap stocks have continued to fall, the CSI 2000 Index has fallen back to its lowest level since the rebound in February this year, and there are only local opportunities in the market hot spots. This week, the information and innovation sector moved frequently, among which financial informatization and "vehicle-road-cloud integration" with fiscal and tax reform as a breakthrough have more pulse opportunities. Some analysts have pointed out that the overall short-term opportunities of A-shares are extremely limited, and investors should not blindly chase the rise and fall, but should pay appropriate attention to the information and innovation segments with frequent favorable policies and broad market prospects in the recent period, such as financial informatization and "vehicle-road-cloud integration" that may stimulate the trillion-dollar market.
1. Financial informatization
It is expected to maintain a high growth rate
This week, there were local opportunities in the information and innovation sector dominated by financial IT, and the fuse was a new round of fiscal and tax system reform. The "Report on the Implementation of the Central and Local Budgets in 2023 and the Draft Central and Local Budgets in 2024", approved in March this year, proposes to further improve the tax system, optimize the tax structure, study and improve the local tax system, promote the reform of consumption tax, and improve the value-added tax system on the premise of maintaining the stability of the macro tax burden and the basic tax system.
According to a research report released by China Securities Securities, a new round of fiscal and taxation system reform is expected to drive a new round of fiscal and tax IT construction, involving tax reform, tax collection and management reform, and promoting the overall planning of financial resources and budget management. Electronic accounting vouchers are concentrated at the head of the budget unit market, and the enterprise market is scattered, with a market space of nearly 100 billion yuan. In terms of budget units, the market space is about 10.5 billion yuan/year; In terms of the enterprise market, the market space is about 82.6 billion yuan/year. In addition, in terms of financial and tax IT construction and SaaS cloud services, it is expected to bring 14 billion yuan to 21 billion yuan of project space, as well as 1.4 billion yuan to 2.1 billion yuan of incremental business space for cloud services per year.
If we broaden our eyes to the entire scope of financial informatization, some institutions predict that by 2025, the market size of the mainland's financial informatization industry will reach 92.58 billion yuan, with an average annual compound growth rate of 12.7%. From a policy point of view, the People's Bank of China and other seven departments recently jointly issued the "Work Plan on Doing a Solid Job in Science and Technology Finance". Some brokerages pointed out that the construction of the digital economy has accelerated, and the scale of the technology and financial market has expanded. With the vigorous development of the digital economy, the characteristics of "stabilizer" and "accelerator" in the national economy are becoming increasingly prominent, among which financial information innovation directly benefits, and at the same time, the network security policy is strengthened, and the process of localization substitution is expected to accelerate.
Liu Kai, an analyst at Everbright Securities, pointed out that at present, large institutions in the banking industry have completed the peripheral system information innovation and gradually replaced the core system. It is expected that more than 5,000 financial institutions will participate in the future, covering all types of financial institutions. The promotion of information and innovation encourages pilot institutions to increase investment in information technology, and it is expected to continue to grow in 2024. According to the estimation of Yiou Think Tank, the scale of China's financial information innovation market will reach 300 billion yuan in 2026. Xinchuang has promoted pilot financial institutions to strengthen IT investment, and it is expected to maintain rapid growth in 2024. As the software and hardware of financial information innovation are currently being purchased in advance, and 2026 is the information innovation node of the six major banks, it is expected that the financial information innovation market will still maintain a high growth rate from 2024 to 2026.
Chen Hanbo, an analyst at Debang Securities, said that as important meetings approach, it is expected that some important projects with demonstration effects are expected to be launched in the near future. According to relevant policies, it is expected that in 2027, central state-owned enterprises will take the lead in completing the comprehensive replacement of information and innovation, and at this pace, bidding is expected to be intensively opened in the second half of this year. Meng Can, an analyst at Guojin Securities, pointed out that financial informatization will also involve the field of network security, and it is recommended to pay attention to investment opportunities in the network security sector. Secondly, it is recommended to pay attention to companies in special industries whose future revenue expectations continue to increase, such as Shengbang Security; Finally, it is recommended to pay attention to the camp of the national network security team, such as Venustech, which is owned by China Mobile, Qi'anxin, which is the second largest shareholder controlled by China Electronics, and Dianke Network Security, which is owned by China Electronics Technology.
A selection of potential stocks
Vertex Software (603383) Gold Securities Co., Ltd. (600446) Sunline Technology Co., Ltd. (300348) Yongxin Zhicheng (688244) Yonyou Network (600588)
2. Vehicle-road-cloud integration
Tens of billions of orders have been landed one after another
On July 3, the Ministry of Industry and Information Technology and other five departments released the list of pilot cities for the application of "vehicle-road-cloud integration" for intelligent networked vehicles, and identified 20 cities (consortiums) as the first batch of pilot cities for "vehicle-road-cloud integration", including Beijing, Shanghai, Shenzhen, Guangzhou, Wuhan, Chongqing, Nanjing, Suzhou, Chengdu, Hangzhou-Tongxiang-Deqing consortium, etc. In terms of landing projects, the major demonstration project of "vehicle-road-cloud integration" of Wuhan intelligent networked new energy vehicles has been approved by the Wuhan Municipal Development and Reform Commission, with a record amount of about 17 billion yuan. This project is another 10-billion-level order after Beijing's "vehicle-road-cloud integration" project. Since the "vehicle-road-cloud integration" was proposed, the introduction of relevant policies and the implementation of projects have been accelerating. On June 30, the Beijing Municipal Bureau of Economy and Information Technology issued the "Beijing Autonomous Vehicle Regulations (Draft for Comments)", which systematically stipulates the construction of "vehicle-road-cloud integration" such as traffic areas, intelligent roadside infrastructure construction and service management platforms. Sun Weifeng, an analyst at Everbright Securities, pointed out that the Beijing Autonomous Vehicle Regulations (Draft for Comments) proposes to encourage industrial innovation and development, and proposes to set up a regulatory sandbox to provide an inclusive and prudent regulatory environment. The declaration and confirmation system shall be implemented for road testing, demonstration application and demonstration operation; Encourage all types of market entities to participate in infrastructure investment, construction, operation and maintenance; In addition, a variety of innovative activity scenarios such as public passenger transport, taxi passenger transport, car rental, road cargo transportation except for dangerous goods transportation, and urban operation guarantee are proposed, so as to solve the problem of commercial operation of autonomous vehicles by enriching scenarios. After the issuance of the solicitation of opinions, it is expected to actively promote the construction of intelligent road test infrastructure and the development of autonomous vehicles in Beijing, and at the same time, it is expected to form a demonstration effect and promote other cities to introduce relevant regulations, which is expected to further open up the development space of "vehicle-road-cloud integration". At present, the review of the pilot application of "vehicle-road-cloud integration" of intelligent networked vehicles in mainland China has been completed, and the relevant departments are waiting for the release of the final list of pilot cities, and the development of "vehicle-road-cloud integration" is expected to enter the fast lane. China's vehicle-road coordination policy involves many fields such as smart transportation and Internet of Vehicles. Wu Mingyuan, an analyst at Huachuang Securities, pointed out that the government has continued to introduce relevant policies and regulations to promote the rapid development of the vehicle-road coordination industry to match the construction needs of a modern economic system. The introduction of a series of policy opinions has brought a relatively good policy environment to the development of the vehicle-road coordination industry.
With the accelerated development of "vehicle-road-cloud integration", new development opportunities have been ushered in in many subdivisions. In the "China Plan" of intelligent transportation, which combines bicycle intelligence and vehicle-road coordination, "vehicle-road-cloud integration" is the core link. Wen Xuechen, an analyst at Zhongtai Securities, pointed out that the current division of labor between the software and hardware players of the Internet of Vehicles is clear, and the industrial ecology is gradually maturing. "Vehicle-road-cloud integration" can open up all aspects of data collection, processing and application, and is expected to greatly improve the degree of urban transportation intelligence. It is predicted that the market size of smart transportation will reach 10.6 trillion yuan, with a compound growth rate of 35% from 2025 to 2030. It is recommended to pay attention to manufacturers with comprehensive solution capabilities and data operation capabilities for smart transportation, such as Wanji Technology, TransInfo Technology, Tongbao, Wantong Technology, Genvict Technology, E-Hualu, and Yunxingyu. Sun Weifeng said that he is optimistic about the development of "vehicle-road-cloud integration", with the improvement of legislation, the continuous implementation of policies, and the acceleration of software and hardware facilities, the market space of "vehicle-road-cloud integration" will be further expanded and may achieve rapid growth. A selection of potential stocks
Wanji Technology (300552)TransInfo Technology (002373)Shenzhen Chengjiao (301091)Jiangsu Jiaotong (300284)BDStar (002151)
Editor|Qing Zixiu
Calibration|Yuan Gang
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