With the continuous ©επ development of the real →♣economy and digital China, digital tran×φsformation will become an ineviσ®table choice for the development of the α§real economy, and alsγ↑o the general trend of economic and social deve✘↑φlopment.
At present, the domestic c₹σ§φloud computing industry ♥§is going through the early stage of deve₽'lopment, entering a new cycle, and bringing sign ∏ificant changes in market structure, customer strεΩσucture and other aspects. On the demand s"∏ide, traditional enterprise customers ar€π≠ e replacing Internet customers as the main driv≤↔≥ing force for the growth of demand in the domest•★βic cloud computing mar∞♠ket, and cloud platform manufacturers>φ™± are required to have ®↑λa completely different capability mo∞ del than in the past. On the supply side, thα••♣e operator cloud, relying on the ad$÷→vantages of infrastructure co★♥±γst and breadth, has g®<radually gained share in the¥πφ± IaaS layer, and achieved rapid ≠♦accumulation of users in the government and ☆©Ω₹enterprise fields, drivi♦' ng the growth of demand for domestic ARM ≈®₩servers, first-tier city data centers, >etc. Internet manufacturers still h× ≥★ave advantages in PaaS, SaaS, ¥≤®ecological construction and other ≠π₽δfields relying on software capabilities. It >←is expected that the domestic cloud com>σ∞puting market competition will continα±λue to become fierce in the medium term and w÷<×ill significantly extend the overall pro♣>εfit cycle of the indu♣α✘stry.
According to Gartner, the global public ↑φ&•cloud market will reach US $330.7÷₽₩♥ billion in 2021,+32.4% year-↔★γon-year. According to Forrester's predict₩&λion, the global public cloud market is expected ¶to reach US $1 trillion in 2026, and the CAGR wil→✔'™l be about 25% in 2021-2026. According ¶<λ♠to IDC, the size of China♦←∞9;s public cloud mark∏↓et will reach 27.52 billion US dolla™βrs in 2021, with IaaS, ≠✘PaaS and SaaS accounting for 62%, 15% and 23% r∑←φ•espectively. According to IDC forecast∏€, the CAGR of China's pu→€blic cloud market will exceed 30% in 20π∑22-2026.
CITIC Securities pointed out tha ☆λt in recent years, the three major oper×β≠ators have focused on th"•π e development of cloud compu€±ting and promoted institutional re¥♥βform. With the comprehensive advantages of cloud < network integration, security and ★≥credibility, the clou≠↕d computing revenue of operators has increa♠$γ★sed rapidly, and the industry competitivene¥ §ss and status have been significantly improv¥✔ed. At present, operators have pro≥<minent advantages in πIaaS by virtue of the improveme ×nt of underlying infrastruc&©$ture, and continue to improve the co÷₹®mprehensive competitiveness of PaaS and Sa∑∞£aS by strengthening self-research, building ™ ecology, and channel s±₹inking. In the future, it is expect₽±ed that the growth rate of cloud comp∑σ≤↓uting of operators will conti★ nue to lead the way. ≥φ₽It is expected that wiλ≥th the increase of revenue and theφ<$ improvement of profit$σability, the independ<★™ent valuation of cloud computing will bring theσ market value flexibility of 100 billion yua₹×n to operators.
Comments: The developm←γ¥ent trend of the platform econ≤☆βδomy is improving in the near future, or the clou≈₽d investment is gradually increased.¥Ω At present, the valuation of cloud compu←₩ting companies is at a low level. Telecom operatγ∞βors and their cloud computi₹וng, data element industry chain companiφ∑≠es, industrial Internet and the phased a≈♦₽§rray radar microwave component industλσry chain related to milita∏Ωry communications may ¥ be paid attention to by funds.
Here, four companies a•π↔re introduced for reference by ≠™Ωintegrating the latest research and report info×✔•♣rmation of several securities compa♦π€nies.
1. Cape cloud
After landing in the capital market, Cape <$λCloud quickly consolidated the advanta∑$ges of the data intelligence platfo₩'∏↕rm. On this basis, it quicklyδ' entered the field of digital in★∏λ¶telligence energy by means of ac≤÷ ≥quisition and capital increase, an↔±£d formed a "digital intelligence+&∏✘quot; platform development strategy and was firml∏ y implemented. At present, the company ha©₹φs formed a multi-level equit> €&y incentive mechanism, which can mobilize th §₹αe enthusiasm of the core teams at all ®♣levels and help the impleme₩§ntation of the company's ♣• ₽strategic plan. The "second growt₩'h curve" is being established-- Hua≤↕xi Securities
2. Zhiyuan Internet
In terms of information innovation,>↓ the company has actively arranged the₹☆ information innovation f ≠ ield, launched exclusive products↕ ≤ for government information innovationΩ" and industry information innovation, covering ≈÷¶a wide range of industries, and a•♠dapted new products with many basic software and×♦♦δ hardware manufacturers. In terms o<♣<f digitalization, theφ¶→ company has an open techno¶∑logy platform and a low-cod ™e platform to support t ÷he construction of busin±←λess. At the same time, it adheres♠αα to the product development s★<Ω♠trategy of platform-based and cloud tra≥ nsformation, and maintains the cε£↑σompany's competitive advantage in techno÷±δ'logy. In terms of ecology, the compa<→• ny has integrated industrial chπαain resources through the "Honeyγcomb Plan", jointly€× built a large collaborative alliance ecosδ©↔ystem, and formed ecological cooperation relat♣↓∏÷ionships with nearly 100 str ±©&ategic partners across the ±♠₹₽country. We believe that with the company®'s continuous investment in↓∏ the information and inn&₩>ovation business, the software adaptation capabi₽≤lity will be further highl≤ighted, which will he↑§>∞lp to enhance the prΩ>δoduct competitiveness and incr←✘&♦ease the added value of the p♠φroduct, thus further exp'anding the breadth and depth of en≤✔terprise-level collaborati<ε"ve application solutions and achievi≈∞∏ng technological breakthroughs-- Haitong Securiti©±es
3. Scientific and technol≠↓≤ogical innovation
The company has long serve&∏ ↕d the digital transformation of largeγ" customers such as operators and energy group±↓s. Relying on a broad base of potent∏β"×ial customers, the expansion of eneδ€δrgy storage business is worth looking forw>★α&ard to. In terms of cloud platform,£♦∏< the company innovates thΩφ₽πe application scenario of digital i✘↓ntelligence logistics in the "platform×♦δ+service" mode, provides digital♦ε intelligence ETC and diσ×♦∞gital intelligence supply"$ chain services for cargo ow↓♥ners, logistics enterprises and truck dr✔ →ivers, and cultivates Ωnew growth points for ←×α the company-- East Asia Qianhai Securities
4. Taiji Shares
Taiji has been deeply involved ×£in China's information indΩ ustry for 30 years, and has become a leadinσ∏∏g enterprise in the infδ←✘ormatization of domestic e-gove✘™★rnment, smart cities and key indus¥'♠βtries. It has a complete inde₩₹↕±pendent product system, a mature &qu<÷¥ot;cloud+digital" servicΩλ₹e model, a deep industry know-how, §α®¥leading brands and qualifications, s≠©≥trong shareholder resource support and other c"ε£ore advantages. The company has com↑₽ prehensively laid out the basic software of Xi☆₩∏±nchuang and built a <complete independent prαφoduct system covering the op< ÷Ωerating system, database, middleware and office€& software; In 2021, nearly 3 billi₽∏♣on yuan of new information and¶♣" innovation projects will be signed, c ontinuing to maintain market leader≈$×σship-- East Asia Qianhai Securitα ≠∑ies
