investment strategy Zhang Xia Chen Gang
As the first MWCh conference held after the implementation of China's 5G license, during the conference, applications such as 5G payment, 5G cloud gaming, 5G intelligent driving, 5G ultra-high-definition video, VR/AR can be seen everywhere, and 5G terminal devices are also unveiled, and 5G downstream applications are on the eve of the explosion. We believe that the 5G downstream application theme will be similar to the mobile Internet theme in the 4G era, becoming a new theme direction and trend.
Core Views
[This html focuses on 4 weeks - MWC Conference: 5G downstream applications progress exceeds expectations]
As the first MWC conference held after the implementation of China's 5G license, 5G cloud gaming, 5G intelligent driving, 5G ultra-high-definition video, VR/AR and other applications can be seen everywhere during the conference, and 5G terminal devices are also unveiled, and 5G downstream applications are on the eve of the explosion. In our investment outlook for the second half of the year released on June 12, we highlighted that the fourth information wave led by 5G will be one of the key factors for China's economy to achieve high-quality growth in the new stage. Since the second half of 2019, the technology cycle may replace the credit cycle and become the dominant force in the economy and capital markets. We believe that downstream applications of 5G will be similar to the mobile Internet theme in the 4G era and become a new theme direction and trend.
[Review of other technology hot spots last week] China Mobile announced that it will officially release the "5G+ plan in Shanghai on June 25; my country will build the first " artificial intelligence constellation"; Ministry of Industry and Information Technology: Strengthen the top-level design of the development of the military industrial Internet, and study and formulate the "Digital Military Industry Action Plan"; MWC CCTV successfully achieved my country's first 5G+8K TV program signal transmission test.
[Other emerging industries themes are concerned] quantum communication , network security, domestic substitution: (1) The scientific research team of the University of Science and Technology of China has implemented the principle verification of all-optical quantum repeaters for the first time in the world; (2) "National Network" The Development Plan for the Network Security Industry" was implemented, and the network security industry accelerated its development; (3) Huawei incident eased, and domestic substitution was still the main line.
[Global Technology Industry Stock Index Trend] Global major stock indexes rose generally last week, and Huawei incident turned around after the G20 summit, and overseas semiconductor industry ranked first. Philadelphia Semiconductor Index rose by as much as 6.05%, and Nasdaq Biotechnology and Information Technology rose by 2.56% and 1.09%.
[Global Key Technology Company Tracking] Amazon : Amazon's cloud computing business subsidiary AWS announced Price reduction for the company's Amazon EC2 instances, with a maximum drop of 49%. JD : JD Logistics' first industrial fund, Huihe Capital, initiated by JD Logistics, completed its first phase of delivery, with a fund size of 1.5 billion yuan, focusing on investment in early and growth projects of technology logistics and intelligent supply chains, cultivating new momentum for industry development, and building a cobiological flow ecosystem. Samsung: industry sources revealed that seven global technology giants, including Samsung Electronics in South Korea, are under investigation by the United States International Trade Commission (USITC). Tesla: Tesla's main structure in Shanghai is close to completion. Recently, the substation used to power the factory has begun to be built. , to achieve the factory's goal of starting production in the fourth quarter of this year. Uniscope Uniscope: Uniscope zilluminator and Ericsson complete 5G upstream and downstream data connection in the 2.6GHz band. Huahong Semiconductor: Huahong Semiconductor's third-generation 90-nanometer embedded flash process platform successfully mass production. Uniscope Group: Uniscope will build a 3D stack memory chip factory in Chengdu: an investment of US$24 billion is expected to be completed in 2020. Samsung: Samsung folding screen mobile phone Galaxy Fold has been connected to the Internet in the Ministry of Industry and Information Technology of China and may be officially released in China soon. SMIC: SMIC resells 8-inch wafer factory.
[ Science and Technology Innovation Board Enterprise Tracking] As of July 3, 2019, 14 Science and Technology Innovation Board companies have been officially issued. This article sorts out the basic situation of the issued companies and the benchmark A-share listed companies for investors' reference.
[Risk Warning] The individual stocks mentioned in this report only indicate that they are related to the relevant topics and do not constitute individual stock investment advice.
directory
01
Frontiers of Technology and New Industry Observation
1. Focus on tracking this week: MWC Conference: The progress of 5G downstream applications exceeds expectations
Event: As the first MWC conference held after the implementation of China's 5G license, this conference received widespread attention. Many products were displayed and released at the conference. Compared with the past, in addition to continuously proposing plans for the development of 5G theme industries, this conference lets us see that whether operators, equipment manufacturers, etc. have launched practical actions based on 5G, close to the implementation of applications, marking the beginning of the intelligent era of the Internet of Things. 5G Applications are gradually moving from solutions to practice, from laboratories to real life. During the conference, applications such as 5G payment, 5G cloud gaming, 5G intelligent driving, 5G ultra-high-definition video, VR/AR can be seen everywhere, and the highly-watched 5G terminal devices are also unveiled, and 5G downstream applications are on the eve of the explosion.
We highlighted in the 2019 semi-annual investment outlook "Standing at the Starting Point of the New Technology Cycle" released on June 12: The fourth information wave led by 5G will be one of the key factors for China's economy to achieve high-quality growth in the new stage. Starting from the second half of 2019, the technology cycle may replace the credit cycle and become the dominant force in the economy and capital markets, and "technology + finance" will become the preferred allocation for the new two-year upward cycle.
We believe that 5G downstream applications will be similar to the mobile Internet theme in the 4G era, becoming a new theme direction and trend:
targets the previously controversial difficulty in choosing "first NSA or SA". At present, the three major operators have given clear answers and adhere to the target networking direction of SA. In fact, the networking between NSA and SA is the main difference: NSA anchors the control signaling of 5G on the 4G base station; the SA solution is to directly connect 5G base station to 5G core network , and control signaling does not rely on 4G network at all. NSA and SA are by no means "choose one of two". The second is a question of succession. In the early stages of 5G deployment, most operators started by investing in 5G base stations. In the future, no matter when operators choose to upgrade from 4G core network to 5G core network, operators' investment in 5G base station hardware will remain unchanged. In fact, the 5G base stations provided by powerful equipment manufacturers are all dual-mode, supporting both NSA and SA. In the future, the base station can achieve the evolution from NSA to SA only through software upgrades.
Pioneer P1/P2 series is a self-branded product of China Mobile, the industry-leading 5G NSA/SA dual-mode terminal, supporting 5G+4G+gigabit broadband+WIFI quadruple connection. Currently, P1 supports the latest WiFi6. It has higher speed WiFi access capabilities and can be perfectly matched with 5G. It is an excellent choice for users who like to try out the new things and experience the ultimate. The pioneer P2 supports WiFi5, which can fully meet the access needs of existing WiFi devices and is at the same time better price.
On June 29, China Unicom announced the establishment of the "5G+ Edge Cloud Business Operation Center". Ms. Wang Changling, chief architect of China Unicom Core Network, promoted the positioning and intelligence of the MEC Edge Cloud Innovation Business Operation Center on behalf of the group's intelligent network security: it will meet customers' differentiated experience needs through the MEC Edge Cloud Business Operation Center, and realize a closed loop in business, technology and ecology. Integrate "regulation, construction, maintenance, research and operation" into one, China Unicom's "cloud, management, edge, end, and industry" five-in-one service architecture, with the "edge business platform CUBE-EDGE + industry application" as the center, and connects the front-end market demand, helping China Unicom form a high-value industry cloud.
All three major operators put forward their opinions and suggestions on the future development of 5G industrial chain during the 2019 MWC conference. Among them, China Unicom said: Unicom 5Gn will see a bright future.
2, last week's key technology hotspot review
3, other emerging industries tracking: pay attention to quantum communication, network security, domestic substitution
(1) The scientific research team of the University of Science and Technology of China has implemented the principle verification of all-optical quantum repeaters for the first time in the world,
Recent Professor of the University of Science and Technology of China Professor Pan Jianwei and his colleagues Chen Yuao , Xu Feihu and others have implemented the principle verification of all-optical quantum repeaters for the first time in the world, opening up a new way for the construction of long-distance fiber optic quantum networks.In fact, as early as the previous weekly report, we proposed "Quantum communication may make breakthrough progress earlier" . The results of this experiment show that all-optical quantum repeaters can effectively increase the transmission rate of quantum states, thereby expanding the transmission distance of quantum communication. The core advantage of
quantum computing is that it can realize high-speed parallel computing. quantum computer qubit number grows exponentially, and computing power will grow exponentially. It can be seen that the number of qubits in quantum computers has increased rapidly in the form of exponential growth, from 1-bit qubits since 2003, to 512-bit qubits computers in 2013, and then to 1,000-bit qubits in 2015. At present, non-generic quantum computers have implemented 1,000-bit qubits, and the computing efficiency in specific algorithms is 1000 times faster than that of classical computers. Quantum computing can process big data at high speed, realizing the mobileization of artificial intelligence. The big data processing capabilities of quantum chips will realize the mobileization of artificial intelligence. The main application scenarios of include: vehicle-mounted intelligent systems, intelligent systems of drones, or artificial intelligence on mobile phones.
(2) The National Cyber Security Industry Development Plan was implemented, and the network security industry was accelerated.
"National Cyber Security Industry Development Plan" was officially released at a press conference on the development of China's software industry on June 30, 2019. The meeting pointed out that it is necessary to complete the construction of "five bases" , namely: (1) National Security Strategy Support Base. takes major strategic needs such as national security and cyberspace security as the core driving force, and deploys ahead of schedule and accelerates the research on a number of key common technologies for cybersecurity. (2) , the international leading network security research and development base. Build a global collaborative R&D platform, gather global innovation resources, and promote the innovation of core technologies of network security and the transformation of scientific research results. (3) Demonstration base for high-end network security industry agglomeration . Cultivate a group of key enterprises with global competitiveness, build a network security industry ecological chain that integrates industry, education, research and application, and form a high-end industry demonstration and leading effect. (4) Cultivation base for leading talent in cybersecurity. builds a number of headquarters-based and base-based training bases to attract high-end network security talents at home and abroad. (5) Network security industry system innovation base. creates an innovative system for government coordination, industry, enterprise and society to jointly build and share.
The "Plan" is implemented, which will once again improve the development speed of China's cybersecurity industry: According to the "2019 Cybersecurity White Paper" of CADI Consultant, the 2019 China's cybersecurity market is expected to reach 60.8 billion yuan (+22.8%) . From the perspective of the sub-sectors, cloud security, Internet of Things security, and industrial control security are expected to maintain an average annual compound growth rate of 30%-50% in the next three years. According to this, it is estimated that the size of China's network security market will exceed 100 billion yuan in 2022. The "Plan" points out that by 2020, relying on the industrial park to drive the scale of Beijing's network security industry to exceed 100 billion . From a policy perspective, the "Plan" has undoubtedly enhanced the prosperity of the industry's development.
(3) Huawei incident eased, and domestic substitution was still the main line
Huawei incident eased in stages, and the time node exceeded expectations, and the ease of trade war sentiment became the greatest benefit, focusing on the range of available parts and whether there is a trend of shrinkage in the future. Compared with the previous market's medium- and long-term concerns about Huawei's supply chain, we believe that the time point for the easing of this Huawei incident exceeded market expectations. The main body affected by the Huawei incident in the semiconductor field is Huawei HiSilicon, which is mainly affected by upstream EDA, IP and downstream wafer foundries.
Domestic substitution is still the strongest voice at the moment. The trade war is negative for domestic semiconductor companies in the short term and long term. We believe that technological competition between China and the United States will become the new normal in the future. The Huawei incident fully reflects the weakness of my country's semiconductor industry chain. Although the current incident has eased temporarily, it has not solved the fundamental problem of the gap in technological strength between China and the United States. The Huawei incident has once again increased the importance of independent control in my country's chip industry. In the future, policy and capital tilt will improve the domestic semiconductor entrepreneurship environment, and domestic semiconductor companies will usher in great development opportunities.In the future, 5G+AI in the semiconductor field will open up new space for industry growth, and domestic substitution will still be the main investment line. It is recommended to focus on areas where domestic products are expected to achieve technological breakthroughs in the near future.
*Note: The individual stocks here are for listing only and do not represent individual stock investment advice. For specific individual stock recommendations, please refer to the research of various industries for investment promotion.
4, global technology industry stock index trends and company dynamics
Overall, major global stock indexes rose generally last week. By region, the Nikkei Index and the German DAX Index led the rise of all developed market stock markets, with an increase of 2.09% and 2.01% respectively, with a close follower of FTSE 100 and Nasdaq Index, with a weekly increase of 1.09% and 1.07% respectively. The top performance were the French CAC40 index and S&P 500, up 0.84% and 0.64% respectively, while the Hang Seng Index had the lowest gains at 0.1%. The overall increase of emerging market stock indexes was ahead of developed markets, among which the Shenzhen Component Index was ahead of all market stock indexes, with an increase of 3.46%, the Shanghai Composite Index rose by 1.22%, and the South Korean Composite Index, the Taiwan Composite Index and the Mumbai SENSEX30 Index rose by 0.16%, 1.08% and 0.11% respectively.
(1) United States: After the G20 summit, Huawei incident turned around, overseas semiconductors expected to repair
This week, Magnesium announced the recovery of some products to Huawei at its performance meeting. At the same time, Trump also said that US companies can continue to sell parts to Huawei after the G20. US semiconductor companies such as Micron Technology, Qorvo, Broadcom, etc., which were previously affected by the cutoff of supply of Huawei, are expected to usher in the expected repair, and valuations are expected to return to pre-event levels. Judging from the weekly growth of key technology industry indexes, the weekly growth of the Philadelphia Semiconductor Index far exceeded that of other technology industry indexes, with an increase of up to 6.05%. The weekly growth of the Nasdaq Biotechnology, S&P Healthcare, Information Technology, and Communication Services industry indexes was 2.56%, -0.11%, 1.09% and -0.18% respectively.
(2) Boosted by the MWC 2019 Conference and the improvement of Huawei incident, the semiconductor and communication industries in the Asia-Pacific region have seen a high increase in
The three-day 2019 World Mobile Communications Conference Shanghai (MWC 2019) kicked off on June 26. During the conference, the CCTV Finance Channel of China Central Radio and Television Station and the Shanghai General Station set up an ultra-high-definition interactive experience zone on site, and successfully achieved the first 5G+8K TV program signal transmission test in my country. After the G20 summit, Trump agreed to resume supply to Huawei. Domestic semiconductor companies were boosted by this news, with the weekly gains of 3.24%, 5.62% and 3.08%. All key technology industry indexes did not fall apart, with the weekly increase of Communications (CITIC), Hang Seng Information Technology, Hang Seng Telecom, and Taiwan Biotechnology Medical Indexes respectively at 3.21%, 2.83%, 0.41% and -0.03% respectively.
(3) Global key technology companies track
5. Investment research: Frontier perspective of technology
(1) Investment computer: Bitcoin hits a 19-year high, will A-shares usher in the blockchain market
Keywords of this week: Bitcoin price hits a 19-year high. We believe that A-share blockchain concept companies have a certain relationship with Bitcoin price fluctuations. This report explains why Bitcoin is currently in an upward cycle and whether there are opportunities for subsequent A-share blockchain concept companies.
Comments:
1, the computer sector index fell 2.55% this week. The current TTMPE of the computer sector is about 52.7 times. A new wave of technology represented by cloud computing and artificial intelligence has arrived. Based on the accumulation of past business and technology, leading companies in the A-share computer sector are expected to reflect growth beyond the industry through intelligent upgrades of products and services. We are optimistic about investment opportunities for R&D leaders. 2. This week, AMD announced that it would stop the authorization of x86 new technology, and the development of domestic design chips will face difficulties. This report mainly introduces the two chip architectures of x86 and ARM, and compares the advantages and disadvantages of the two camps;
2. Trade frictions ease and market risk preferences rebound. 5 is the peak period for interim report pre-disclosure in early July, and the market has certain expectations for possible exceeding expectations.Judging from the interim report expectations of key targets we tracked, the cloud computing sector is still growing well, medical informatization overall maintains a high prosperity, and the prosperity of network monitoring (big data) indicates that government demand has rebounded. In July, the computer sector had good interim performance expectations and increased risk preferences to resonate. It is recommended to configure three directions: 1. R&D leader; 2. Turning point growth target; 3. Strong catalytic theme target.
3. At the topic perspective, we recommend paying attention to the blockchain sector.
(1) Bitcoin hit a 2019 high this week. We believe that there are three main reasons for the recovery of the currency price: 1) Facebook released Libra digital currency to stimulate Bitcoin appreciation: On June 18, Facebook released Libra white paper saying that it would establish a decentralized blockchain, a cryptocurrency Libra, which is boundless and guaranteed by real asset reserves, and a financial infrastructure that serves billions of people; 2) Trade frictions continue to ferment and increase the value of safe-haven assets: Sino-US trade frictions have led to an increase in global risk aversion sentiment, gold is the first choice for safe-haven assets, and Bitcoin is known as digital gold. Its value continues to rise due to risk aversion sentiment; 3) Bitcoin output in 2020 is halved: Bitcoin reward declining output will directly lead to an increase in the currency price. Historically, every mining reward halving will lead a bull market for Bitcoin.
(2) Blockchain technology is the underlying architecture of Bitcoin. Blockchain is a permanent and tamper-free public ledger generated by superimposing encrypted data (blocks) in chronological order, solving the problems of "Byzantine General" and "double spending", thereby realizing decentralization and detrust. Given the many advantages of blockchain, major financial giants around the world are also actively deploying blockchain to meet opportunities and challenges. At the same time, blockchain development is difficult and has high technical barriers to development, and platformization is its trend.
(3) With this big rise in Bitcoin, A-share blockchain concept stocks ushered in a wave of upsurge, and the blockchain concept has once again attracted market attention and is expected to usher in the favorable blockchain sector in the future.
Risk warning: 1. Goodwill risk; 2. Policy risk; 3. Bad debt risk for accounts receivable.
(2) Investment Communications: Investment variables are getting better, the communications sector ushered in the allocation time window
This week’s keywords: The external environment and 5G investment increase two variables are getting better, the communications sector ushered in the allocation time window. This week, , Shanghai Electric Co., Ltd. was the first to release its impressive semi-annual report forecast, and it is expected that the semi-annual report performance of the communications sector will perform well this year. We believe that Communications is expected to emerge in a relatively certain sector market in the next two months. Investors are advised to make arrangements from a short-term oversold rebound, high growth in the interim report, and 5G core leaders to maintain a "recommended" rating.
Comment:
1. The two variables of external environment and 5G investment increase are getting better, and the communications sector ushered in a configuration time window. At the G20 summit this weekend, China and the United States reached an agreement that the United States suspended the imposition of US$300 billion tariffs on China and stated that the United States can sell goods to Huawei. The huge uncertainty since May has reached a dynamic balance and the market will usher in a relatively loose external environment. From the perspective of 5G investment, it is highly likely that operators will increase the scale of 5G investment in the second half of the year, and the scale of 5G base stations for the whole year is expected to increase from 100,000 to more than 200,000.
2. Shanghai Electric Power Co., Ltd.'s performance forecast exceeded expectations, and the interim report of the communications sector is worth looking forward to. This week, Shanghai Electric Power Co., Ltd. was the first to release its impressive semi-annual report forecast, opening the semi-annual report market for communications. Communication investment increased in the first half of the year, operator bidding accelerated. In addition, the performance of last year's semi-annual report was at a historic low, and the performance of the semi-annual report in the communications sector will perform well this year. We believe that Communications is expected to emerge in a relatively certain sector market in the next two months, with valuation and performance resonance, and it is recommended that investors focus on increasing allocation to the communications sector.
3, MWC2019, 5G The industry chain parade on the eve of the eve of the industry chain has been ready for commercial use. The Ministry of Industry and Information Technology of China officially issued 5G commercial licenses to China Mobile, China Telecom , China Unicom and China Radio and Television on June 6, 2019. Less than a month later, MWC19 Shanghai was held from June 26 to June 28, 2019.As for the current situation of exhibits from various manufacturers, from technology research and development to production line supply, all parties have prepared for 5G network construction and 5G network commercialization.
4. Investment advice: Follow the "three open lines" and "one hidden line" to find real growth targets for 5G. Key recommendations: ZTE, China Unicom, Fiberhome Communications, Tianfu Communications , Zhongji Xuchuang, Gaoxinxing, Hynuda, Guanghuan New Network, Yilian Network, Mengwang Group; Recommended attention: Sega Technology, Baoxin Software, Haige Communications , Inspur Information, Shanghai Electric Co., Ltd., Shenzhen South Circuit (electronic group coverage)
Risk warning: 5G progress is less than expected; operator capital expenditure is less than expected; Sino-US trade friction is escalating
(3) Investment Communications: Guanghuan New Network: IDCh King of the Insurgency of the Great IT Cloudization Wave IDCh King of
Keywords of this week: Company started with ISP Internet bandwidth access services and took the lead in self-built IDC in Beijing Business, currently has resource reserves of about 100,000 cabinets in core cities and surrounding areas, and actively builds a cloud ecosystem to form a dual-wheel drive business layout of IDC and cloud computing, and gradually becomes a leading IDC enterprise under the wave of large IT cloudization in China.
Comment:
1. The development of cloud computing continues to boost the demand of the IDC industry and increase the entry threshold and concentration of the industry, which is beneficial to traditional IDC companies that have large-scale layouts in first-tier cities and surrounding areas. IDC is the underlying infrastructure of cloud computing and will develop with the rapid development of cloud computing. However, the development of cloud computing has changed the customer structure of traditional IDC enterprises. Small and medium-sized enterprises in second- and third-tier cities have gradually entered the cloud, and the customer churn rate of IDC enterprises has increased. Cloud computing companies tend to adopt self-built and co-construction models in second- and third-tier cities. Under the self-built model, IDC enterprises face the risk of bankruptcy. Under the co-construction model, IDC enterprises' bargaining power and profitability are constantly weakened; first-tier cities have the advantages of many customers, good networks, and many talents, with strong demand, but few supply and strict policies, and overall supply is in short supply. The scarcity value of IDC enterprises continues to be highlighted, and bargaining power and profitability continue to improve.
2, IDC is dominated by Beijing and Shanghai, with rich resource reserves around core cities, and scarce value doubles as policies become stricter, and profit and growth capabilities are strong. currently has eight major data centers, with nearly 50,000 cabinets planned, mainly owned land, and is mainly located in Beijing and Shanghai. With the stricter policies in first-tier cities, the company's scarcity value is highlighted. At the same time, the company's IDC customer structure is of high quality, high value customers account for a high proportion, and strong profitability. The company is currently actively making arrangements in the Beijing-Tianjin-Hebei region, Shanghai and the Yangtze River Delta region. In the future, it will have about 100,000 cabinets, strong growth capabilities, and its leading position will be further consolidated.
3. Halo Cloud Data helps AWS cloud service promotion, and the INSPIRE platform empowers the cloud ecosystem and opens up new growth space. company established the Halo Cloud Data Team in 2018, which will provide comprehensive marketing and service support for AWS cloud services. The Beta version of the INSPIRE platform independently developed and operated by Halo Cloud Data was officially launched on December 29, 2018. The INSPIRE platform is a cloud ecosystem empowerment platform provided by Halo Cloud to its various channel partners, cloud service community and customers, and will empower the development of the company's cloud ecosystem.
4. Investment advice: company has rich reserves in first-tier cities and surrounding areas, and at the same time, the cloud ecological layout is expected to open up new growth space. It is estimated that the company's net profit in 2019-2021 will be RMB 906 million, RMB 1.161 billion and RMB 1.562 billion, respectively, corresponding to PE of 28.5 times, 22.2 times and 16.5 times, maintaining the "Strong Recommend-A" rating.
Risk warning: IDC computer room delivery and sales progress is lower than expected, and cooperation with AWS is not smooth
02
Science and Technology Innovation Board Enterprise Tracking
As of July 3, 2019, 14 Science and Technology Innovation Board Enterprises have officially issued. Here we sort out the basic situation of the issued companies and the benchmark A-share listed companies for investors' reference.
* Here, the main source of benchmarking A-share companies is the analysis of comparable companies in the prospectus, and partly because the business has a competitive relationship. The review of benchmark companies here is only a list, which does not represent individual stock investment advice or research views of the investment promotion industry.
and above 14 companies on the Science and Technology Innovation Board:
1, China Communications Technology Co., Ltd. has always focused on the research and exploration of rail transit control system technology since its establishment, and is committed to providing safe and efficient core support for national rail transit operation. It has become a leading rail transit control system solution provider in the world, with industry-leading R&D and integration capabilities, and provides customers with integrated services for the entire industrial chain of rail transit control systems. The company provides products and services in the entire industrial chain of rail transit control systems, and its main businesses include: 1) design integration, mainly including system integration services for rail transit control system-related products and design and consulting services for project construction mainly based on rail transit projects; 2) equipment manufacturing, mainly including production and sales of signal systems, communication information system products and other related products; 3) system delivery, mainly including rail transit control system project construction, equipment installation and maintenance services. As of the end of 2018, the company's various technical honors and awards mainly include: the first prize of the Science and Technology Award of the China Railway Society, the second prize of the Beijing Science and Technology Award, the silver prize of the China Patent Award, etc.
2, Hangke Technology
is a high-tech enterprise engaged in the design, research and development and production of rechargeable batteries. It has core technologies and capabilities in the research and development and production of core equipment for charge and discharge machines, internal resistance testers and other post-processing systems, and can provide an overall solution for post-processing systems of lithium-ion battery production line. Relying on professional technology, refined management and personal services, the company relies on its R&D strength and independent innovation capabilities to achieve independent research and development in the functions, performance, quality and safety of the product. The company has 12 invention patents and 49 utility model patents, and supplies various lithium-ion battery manufacturers such as Samsung, South Korea LG, Sony, Japan (now Murata, Japan), Ningde New Energy, BYD , Guoxuan Hi-Tech, Bick Power, Tianjin Lishen and other well-known domestic and foreign lithium-ion battery manufacturers such as Samsung, South Korea Added Manufacturing and Remanufacturing Technology, and provides customers with a complete set of solutions for metal additive manufacturing and remanufacturing technology. As one of the early participants in the domestic additive manufacturing industry, the company has accumulated unique technical advantages in the field of metal additive manufacturing through years of technological research and development, innovation and industrial application. Focusing on the metal additive manufacturing industry chain, the company has carried out the research, development, production and sales of metal 3D printing equipment, customized metal 3D printing products and metal 3D printing raw materials. At the same time, it provides customers with metal 3D printing process design and development and related technical services, and has built a relatively complete metal 3D printing industry ecosystem. Its overall strength is in the leading position in the field of metal additive manufacturing at home and abroad. The company's products and services are widely used in aerospace, industrial machinery, energy and power, scientific research institutes, medical research, automobile manufacturing, ship manufacturing and electronics industry, especially in the aerospace field, with a high market share. The company has become a qualified supplier of Airbus' metal additive manufacturing services.
4. Tianjun Technology
Since its establishment, it has always been committed to promoting industrial transformation and upgrading with leading artificial intelligence technology, with the goal of becoming a "global industrial vision industry leader", and will persist in it for a long time in the future. The company applies the core machine vision technology to the industrial field, and continuously invests in research and development in cutting-edge scientific and technological fields such as machine vision algorithms, industrial data platforms, advanced vision sensors, and precision drive control technology to build and strengthen technical barriers. As the leading unit, the company undertakes the special project for the development of major scientific instruments and equipment in the country, with the detection accuracy reaching the international advanced level of 0.3 microns. The company has independent intellectual property rights and has applied for a total of 117 patents, including 65 authorized and 68 software copyrights; it has drafted and formulated 5 national and industry standards and specifications, and is in a leading position in the industry. The company focuses on serving customers in the industrial field and helps industrial enterprises achieve digital and intelligent development through leading products.The company's main products are industrial visual equipment, including precision measurement instruments, intelligent inspection equipment, intelligent manufacturing systems, unmanned logistics vehicles, etc. The product functions cover multiple links in the industrial fields such as size and defect detection, automated production and assembly, and intelligent warehousing and logistics. The company's key performance indicators of its main products have reached or exceeded its outstanding international peers, achieved import substitution, and continuously explored overseas markets.
5, Lanqi Technology
is the industry's leading integrated circuit design company, and is one of the only three memory interface chip suppliers in the world. The main business model is the Fabless model. Under this model, the company only needs to focus on engaging in integrated circuit design and marketing links in the industrial chain, and the rest are entrusted to be completed; the company obtains the finished test chips and sells them to customers. The company's main business is to provide chip-based solutions for the fields of cloud computing and artificial intelligence. Its main products currently include memory interfaces, Jinji server CPUs and hybrid secure memory modules. The DDR4 full buffer "1+9" architecture invented by the company has been adopted as an international standard. It has now become one of the major suppliers of the world that can provide full buffer/semi-buffering complete solutions from DDR2 to DDR4, and ranks among the top two in the world in the memory interface chip market.
6, Xinguang Optoelectronics
As a military-civilian integration high-tech enterprise, it is a leader in the field of military optical simulation in China. The company focuses on providing high-precision components, devices, systems and solutions in the direction of optical targets and scene simulation, optical guidance, photoelectric special testing and laser countermeasures. The products are mainly used in the development and testing of missile weapon systems by the military and military group research institutes. The company's military optical simulation system covers visible light, infrared, laser and millimeter wave bands, and its technical level has reached international advanced and domestic leading. It has developed four generations of products, and some indicators exceed similar products from abroad. It won the first prize of National Defense Science and Technology Progress in 2016. The company has the ability to research and development and production of multiple varieties and series high-end military products, breaking foreign technology blockades against my country in multiple sub-product fields and filling the domestic gap. The optoelectronic target imaging system developed by the company was successfully applied to the "Long March 7" launch vehicle, solving the problems of precise control of imaging light and imaging quality under large-scale changes in temperature and air pressure during its launch, and playing an important role in the scientific and technological innovation of my country's national defense science and technology industry.
7, China Micro Company
is a high-end semiconductor microprocessing equipment company based in China and facing the world. It has deeply engaged in the field of chip manufacturing and etching and developed the first dielectric etching machine in China. It is a leading enterprise in the integrated circuit equipment industry in my country. The company focuses on integrated circuits and LED key manufacturing equipment. Its core products include: 1) plasma etching equipment (CCP, ICP), deep silicon etching equipment (TSV) in the field of IC integrated circuits; 2) MOCVD equipment in the field of LED chips. At present, the company's plasma etching equipment has been widely used in integrated circuit processing, manufacturing and advanced packaging for international front-line customers from 65 nanometers to 14 nanometers, 7 nanometers and 5 nanometers. The company's MOCVD equipment has been put into mass production on the production lines of industry-leading customers. The company has become the world's top and dominant domestic manufacturer of gallium nitride-based LED equipment.
8, Anji Technology
is an independent innovative high-tech microelectronics material enterprise integrating R&D, production, sales and services. Its main business is the research and development and industrialization of key semiconductor materials. The company's products include different series of chemical mechanical polishing liquids and photoresist removers, which are mainly used in the fields of integrated circuit manufacturing and advanced packaging. The company mainly adopts a direct sales model that directly faces end customers. After the product passes customer evaluation and testing, the production department then formulates a mass production plan based on customer orders. The company successfully broke the monopoly of foreign manufacturers in the integrated circuit field of chemical mechanical polishing liquid, achieved import substitution, and gained a certain market share and brand awareness in the semiconductor materials industry. The company has a series of core technologies with independent intellectual property rights, covering the entire product formula and process flow, and reducing product costs through effective management, thus providing customers with cost-effective products.At the same time, the company has accumulated a lot of high-quality customer resources by providing localized, customized and integrated services, including industry-leading integrated circuit manufacturers such as SMIC and TSMC.
9. Fuguang Co., Ltd.
has a long history of development. It is based on the mixed ownership reform of the former Fujian Normal University school-run factory (established in 1958) and has always focused on the research and development and production of optical lenses. The company actively practices the development path of military-civilian integration, applies military product technology to the civilian field, and has gradually developed into a leading domestic professional optical lens supplier. The company's main products are optical lenses, optoelectronic systems and optical element components, which are divided into customized products and non-custom products. Customized products are mainly used in major national defense missions such as the "Shenzhou Series", "Chang'e Moon Exploration", "Mars Exploration", and "Liaoning" as well as cutting-edge weapons and equipment such as drones, armed helicopters, Yuanwang 3 surveying ship, "Red Flag", and "Red Arrow" series. The company is one of the most important providers of military optical lenses and optoelectronic systems in China. Non-customized products mainly include civil security lenses, vehicle lenses, infrared lenses, Internet of Things lenses, AI lenses and other laser, ultraviolet, visible light, infrared full spectrum lenses, and are widely used in safe cities, smart cities, Internet of Things, Internet of Vehicles, intelligent manufacturing and other fields. Internet of Things lenses and AI lenses are emerging areas that the company currently focuses on. The company has established cooperative relationships with well-known artificial intelligence companies such as Huawei, Megvii Technology , Yitu Technology, Yuncong Technology, Horizon, and Hikvision .
10, Huaxing Yuanchuang
is a leading domestic provider of testing equipment and full-line testing system solutions. It is mainly engaged in the research, development, production and sales of testing equipment for flat panel displays and integrated circuits. The company's main products are divided into testing equipment and testing fixtures. The company's main products are used in LCD and OLED flat panel display, integrated circuits, automotive electronics and other industries. The company has strong competitive advantages and independent innovation capabilities in various digital and analog signal high-speed detection boards, machine vision image algorithms based on flat panel display detection, and the design and manufacturing capabilities of various high-precision automation and precision connection components, and has a number of independent research and development core technical achievements in the field of signal and image algorithms.
11, Guangfeng Technology
is a world-leading laser display technology company with original technology, core patents, and core device research and development and manufacturing capabilities, committed to the research and innovation of laser display technology and products. The main business is laser display products and system solutions. The main products include laser optical engines and laser projection machines based on ALPD fluorescent laser display technology. The product fields mainly include the application of laser display core devices in film, television, education and engineering industries. The company focuses on commercial innovation, taking into account both leasing services and sales business, and the proportion of leasing revenue is gradually increasing. The company's products have outstanding technical, market and brand advantages in multiple domestic laser display market segments. The company's laser film projector light source domestic market share is about 60%, laser TV optical machine market share exceeds 30%, and laser business education projector optical machine market share is about 28%.
12, Rongbai Technology
is a multinational group company engaged in the professional research and development and operation of lithium battery positive electrode materials. The company mainly achieves profitability through the research and development, manufacturing and sales of ternary positive electrode materials and their precursors. The company's main products include NCM523, NCM622, NCM811, NCA and other series of ternary positive electrode materials and their precursors. The products are used in the cutting-edge high-energy density batteries of these customers, and are mainly used in downstream fields such as new energy vehicles, energy storage equipment and electronic products. The company's three-yuan cathode material production capacity is in the first echelon in China, and its main customers include CATL, BYD, LG Chem, Tianjin Lishen, Funeng Technology, Bick Power and other well-known domestic and foreign large lithium battery manufacturers. The company has internationally leading core technologies, and is one of the earliest positive electrode material manufacturers in China to launch single-crystal NCM523 and single-crystal NCM622, and the first large-scale mass production company for high-nickel NCM811. The company's high-nickel products are the first to pass the certification procedures of many mainstream lithium battery manufacturers at home and abroad, forming a clear first-mover advantage and a good market reputation in the industry.
13, Ruichuang Micronano
is an integrated circuit chip company specializing in the development of non-refrigeration infrared thermal imaging and MEMS sensing technology, and is committed to the design and manufacturing of application-specific integrated circuits, MEMS sensors and infrared imaging products. The company's products mainly include non-cooled infrared thermal imaging MEMS chips, infrared thermal imaging detectors, infrared thermal imaging movements, infrared thermal imaging cameras and photoelectric systems. The company currently has advanced R&D and manufacturing capabilities in integrated circuit design, sensor design, device packaging and testing, image algorithm development, system integration, etc. The company's products are mainly used in military and civilian fields, among which military products are mainly used in night vision, precise guidance, photoelectric loads, and military vehicle assisted driving systems. Civilian products are widely used in many fields such as security monitoring, automobile assisted driving, outdoor sports, consumer electronics, industrial temperature measurement, forest fire prevention, medical testing equipment, and the Internet of Things. The company already owns a full range of products that can meet the needs of most military and civilian customers.
