On Wednesday, A-shares rallied, and major stock indexes fell slightly.The Shanghai Composite IndexContinue to oscillate around the gap and the 60-day line pressure, and the trading volume is slightly enlarged. On the disk, the previous strong venture capital stocks have diverged. 14 shares of Huajin Capital, Luxin Venture Capital, Zhangjiang Hi-Tech and Jiuding Investment continued to rise, and 16 shares of Suzhou Gaoxin fell more than 4%. Driven by the continuous rise of venture capital concept, market sentiment began to recover, and the 5G sector performed more actively. Huaxing Venture, Yitong Century, Sega Technology, and Tuowei Information 4 stocks were daily limit.
In the first half of this year, due to the decline in operator capital expenditures and the impact of the ZTE incident, the growth rate of the communications industry has slowed down. However, with the easing of ZTE events and the recovery of operators' tenders in the third quarter, the profitability of the communications industry has improved. According to statistics, in the first three quarters of 2018, the overall revenue of the communications industry was 947.93 billion yuan, a year-on-year increase of 14.2%, an increase of 4 percentage points over the growth rate of the semi-annual report. In the first three quarters, the net profit was 22.04 billion yuan, a year-on-year decline of 27.3%, which was significantly narrower than the half-year report of 49.98%. Excluding ZTE, China Unicom and Industrial Fulian, the net profit was 16.07 billion yuan, a year-on-year increase of 3%, which was reversed from the negative growth of the semi-annual report to positive growth. Excluding the impact of ZTE, the top three sub-sectors of the communications industry in the first three quarters were: 5G (52.2%), cloud computing (40.3%), and IPV6 (33.5%).
From the perspective of specific companies, the performance of 5G related companies has also increased significantly. For example, China Unicom, the leading company, has experienced a turning point since the first quarter of this year, and has gradually confirmed it in the semi-annual report and the third quarterly report. China Unicom achieved a net profit of 3.47 billion yuan in the first three quarters, a year-on-year increase of 164.5%.interest rateIt reached 26.99%, the highest level in the same period in the past three years. The cash flow from operating activities in the first three quarters reached 83.132 billion yuan, also hitting a new high in the same period in recent years. The company whose performance in the third quarter report has increased by more than 100% includes 7 shares of 3D Communication, Beixun Group, Hengxin Dongfang and Guanghetong.
With the acceleration of 5G commercialization, the future growth rate of 5G concept stocks will exceed the average growth rate of the market, and the funds will also increase the proportion of positions, and over-match the optimistic target. The data shows that the market value of fund holdings in the communications industry in the third quarter of 2018 increased by 0.26 percentage points from the previous month. Specifically, the fund's third-quarter positions in the communications sector have been in and out, but the concentration is continuing to increase. In the third quarter of the fund communication sector holding the stock market value of the top ten, the company's stock market value rose by 43.5%, light fast technology increased by 160.9%, while the fund's share of the stock market fell by 85.2%, NetScience The decline was 54.3%, Hengtong Optoelectronics dropped 46.3%, and Yilian Network fell 44.8%.
Recently, operators have also been active in the 5G field. At the beginning of November, Zhu Hanwu, deputy general manager of Guangdong Mobile at the Guangdong Internet Conference, said that Guangdong Mobile will increase its investment in 5G. The investment in 5G network construction will exceed 20 billion in the next three years. At the same time, it will build the world's largest Guangdong, Hong Kong and Macau in 2020. The 5G urban agglomeration in the Bay Area is expected to account for more than 15% of 5G users in 2021.
On October 31, China Mobile announced that it will collect 8~10 NB single-mode module products, with a total purchase volume of no more than 5 million pieces. At present, the three major operators have regarded the Internet of Things business as one of the major development and new businesses in the future, accelerating construction and increasing investment. In the critical period of operator business transformation, the Internet of Things as a blue ocean for 5G applications will become a new revenue growth point for operators.
At the Qualcomm 4G/5G summit earlier, Gao Tongqing, deputy general manager of China Telecom, also pointed out that 5G is a milestone in the transformation of operators. Operators must make the following points when they force 5G: First, comprehensive market demand and network capabilities. To achieve a new business model; second, to combine new applications and 5G scenarios to create new application scenarios; third, to combine the upstream and downstream ecological characteristics to create a new industry cooperation model.
Haitong Securities said that the third quarter of 2018 to the first half of 2019 is the 5G theme investment phase; the second half of 2019 to 2021 is the performance against the current situation, the equipment industry chain performance growth rate into the golden period, including the 2020 terminal industry chain 5G exchange The wave pulling effect will be reflected. In 2021, it will focus on the development of applications such as Internet of Things, VR, and new streaming media.
|Fund code||Fund abbreviation||Nearly a week||Handling fee||operating|
|001071||Huaan Media Internet Mix||5.96%||1.50% 0.15%||buy Account opening|
|005282||Zhongjin Value Rotation Mix A||5.39%||1.50% 0.15%||buy Account opening|
|162201||TEDA Manulife Growth Mix||5.19%||1.50% 0.15%||buy Account opening|
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(Article source: Securities Times)