Pay attention to the high-quality stocks with high certainty in the growth of the quarterly report, and lay out the high elasticity of the 5G sector.With the first quarterPerformanceThe notice disclosure period is approaching, and it is recommended to pay attention to the target of higher certainty in the performance of the quarterly report. On the other hand, combined with the recent collection of operators and the grassroots of the industry chainResearchAs a result, in 519, the 5G-related scale collection is expected to advance. As the market risk preference is gradually improved, it is recommended to lay out the high-elasticity of the 5G sector.Combined with the performance line +5G line,Recommended attention:Tianfu Communication,Tai Chenguang,Yinbaoshan New,New Yisheng,Quartz shares,Zhongheng Electric,Yilian Network,Hudian shares,Chinese Tower,ZTE.
Highlights this week: Tianfu Communication 300394, Taichenguang 300570, Yinbaoshan New 002786, New Yisheng 300502, Quartz shares 603688.
China Mobile leased 500 sets of 5G base stations, and the industrial chain accelerated, and the scale collection was imminent. China Mobile released on January 30announcementWill be to Huawei, ZTE,Ericsson,Nokia, Datang leased 500 5G base stations for 519 scale networking and application demonstration in 2019Construction50% for Huawei, 16% for ZTE, 22% for Ericsson, 6% for Nokia, and 6% for Datang. Regarding the use of leasing rather than the purchase method, we believe that: (1) It may be because 5G has not yet started scale collection, and it is more reasonable to use the lease method to test equipment before. (2) Because the project is initiated by the National Development and Reform Commission, some of the funding sources are state subsidies, and there may be considerations such as transfer consolidation.
Regarding the share of the collection, we believe that the amount of the lease is small, and the share of the manufacturer will not form a guideline for the subsequent large-scale collection. On the other hand, if 19 years of China Mobile wants to accelerate the transition to 5G, it is very likely that the NSA network mode will be adopted first. This will lead to a company with a dominant share in the 4G era and it is expected to continue to lead. Datang will make a breakthrough in the 5G era. Benefits: Taichenguang, Tianfu Communication, Yinbaoshan New, New Yisheng,ZTE.
China Mobile has collected 1.11 million base station antennas, and communication equipment vendors are welcoming. Among the 1.11 million-face antennas collected this time, 290,000 urban antennas, 126,000 high-speed rail antennas, and 690,000 high-rise antennas will emphasize more indoor coverage. We believe that because the antennas collected in this collection are mature products, the competition pattern of relevant manufacturers is relatively fixed, which will have a positive impact on the performance of the original front runners. Benefits:Hongbo shares,Dongshan Precision,Jingxin Communication,Tongyu Communication,Moby Development, Hui speed communication, etc.
Before the holiday, the market rose and the communications sector fell. From the breakdown of the industry index, the blockchain rose by 2.7%, and the performance of communication equipment was flat, which was better than the average of the communications industry. Cloud computing, operators, satellite communications and navigation, mobile internet, Internet of Things, quantum communications, and optical communications fell 3.4%, 3.4%, 3.6%, 3.9%, 4.3%, 4.8%, and 6.9%, respectively. Level.
risk warning:The progress of 5G was not up to expectations; the capital expenditure of operators further declined.
(Article source: Guosheng Securities)