Information technology "soft application" into a major trend gem will become a timely rain

The Securities dealers read the list of hundred strong

Technology industry is facing the test of industrial upgrading, information technology gradually from "hard platform" to "soft application" direction of balance and transfer. The original strong electronic manufacturing and hardware manufacturers weak growth, perhaps the gem will become the fertile ground for the growth of new technology companies.

After a year after the release of science and Technology hundred list, from the operating data, compared to 2006, 2008 Technology Hundred of the development seems to be very gratifying: in addition to a slight decline in operating income growth, Other items are on the rise: income rose from 9.095 billion to 11.83 billion yuan, net asset yields rose from 12.35 to 15.22, investment returns rose from 13.66 to 141.62, and net income rose from 1.131 billion to 1.361 billion.

When Apple, Nintendo with dazzling new products rob the United States "Businessweek" World Science and technology 100 of the first few seats, neighboring countries-South Korea's Samsung electronic brand value has soared, Chinese science and technology companies are hovering in the gross margin of the year down, just 7% of the embarrassing situation.

The number of single eyes in this list, such as Baidu, Tencent, the United States, Gree seems to lead us to a future science and technology plate Road; The once-scenic hardware manufacturers and OEM manufacturers have slowly disappeared from the list, the company's fall also seems to herald the end of a period of technology.

In addition to the same as other industries to face the price of raw materials, labor costs rise and the exchange rate adjustment of the macro-economic environment, domestic science and technology enterprises also face a new dilemma: Downstream manufacturers profit margins meager; The unlimited scenery of the technology sector is slowly moving away from China's high-speed running axle.

Although technology companies are now facing a test, but in this round of China's economic upgrading process, science and technology enterprises should follow this wave of escalation, not only to seize the opportunity to launch the gem, and in some of the easy access to competitive advantages of the sub-industry, such as Internet applications and software applications to make breakthroughs, Become the real driving force of industrialization. Eleven-Five the planning outline has put forward: the informationization drives the industrialization, plays the technology the advantage, realizes the national modernization and the productive forces leap-forward development.

The growth of internal force is less than the electronic manufacturing of backward students

"The stock market rose from 1000 points to 6,000 points, many semiconductor industry's gains are far lower than the market, because its gross margin is gradually declining," obviously Everbright Securities senior analyst Xie: "China's economic growth is not the driving force of science and Technology enterprises, but in the new round of economic growth in the leading financial, real estate industry, "From 2005 to 2007, the macroeconomic orientation is good, the demand for financial real estate has increased significantly, but the pace of economic growth is not very obvious to the electronics industry."

Since 98, the rapid development of computer hardware and electronics manufacturing has lasted until 2005, thanks to the domestic popularity of home PCs and the shift of the global electronics manufacturing base to China. Even in 2001, when global growth rates declined, domestic growth remained good.

However, when this great shift began in 2000, the domestic electronics manufacturing industry appears to be weak, Xie said: "The whole industry is driven mainly by downstream demand, the global economy has a large impact on consumer electronics, the economic downturn and the saturation of the market led to a number of basic electronic products, consumer demand fell." Although there is no obvious downward trend of demand in China, it will not be able to escape from the global development track. ”

One of the reasons that tech stocks do not win is that the electronics industry occupies a larger weight, Societe Generale securities strategy researcher Zhang Jidong said: "The plate contains electronics, information equipment, hardware, software, which software rose very well, very strong, but because they are small market capitalisation, the weight of the sector is also very few." However, the large proportion, such as electronics and some downstream equipment manufacturers, faced with the problem of rising costs and domestic demand, as for information equipment, the 2007-year performance was poor due to the delay in the licensing of the 3G, and the computer hardware market was already saturated, and it has become a traditional manufacturing industry , home appliances are also the process of competition, not to see technology content, such as the United States and Gree's progress is not in technology but in management and standardization, such as Gree began to do their own channels. ”

Although the traditional fine molecular industry still performance is relatively excellent, such as home appliances, communications equipment. But Zhang Jidong expressed his concern: Some companies ranked in the front, the key is that they sell a large scale, stable business, but the direction of the future is not good to say.

Xie said that from the perspective and trends, the new Internet applications may become a new bright spot, Zhang Jidong is also more optimistic about technology companies in the comparison of "soft" application.

Ledge technology favours "soft application"

There are already a number of Zhang Jidong mentioned in the list of "soft applications" companies: such as the service of the financial Hang Seng Electronics (600570), the service of Steel's Treasure Letter software (600845), Zhang Jidong said: "It is clear that the use of information technology to transform traditional industries, can promote the whole economic restructuring, improve The high energy consumption, pollution, low value-added enterprises into technology-intensive enterprises, relying on the technology-driven development. "This should be in line with the current development direction of national macroeconomic policy."

In addition, from the development of law, the development of science and technology industry and economic development phase coincide. Technology industry from the 90 's hardware production, and later to the system integration transformation, until now began to more professional technical services, software products, information services, it consulting direction of transformation, this demand is gradually increasing.

Zhang Jidong that this is a future trend: "Technology has begun to involve management, not just the original people understand the hardness of things-science and technology on behalf of the machine, but more integration of the concept of management, with the operation of the way." You can see in this year's entire hundred strong list, the business is soft company proportion in the promotion, this is not only the promotion, and the trend will continue. ”

Previously mentioned "soft", people will think of software, enterprise application software, Zhang Jidong said that now has a number of new models: "such as Baidu, pay more attention to personal experience and personal consumption, no longer simply enterprise software, including Tencent, in the list of hundred ranking they progress very fast, this is also a direction, This kind of service that is related to people's life based on Internet will become more and more competitive. ”

Xie also holds the same view, he is also more optimistic about Internet applications. For the development of mature enterprises abroad, domestic science and technology enterprises to rob a share of the market is difficult to achieve.

Zhang Jidong said, specifically, soft applications mainly include application software and professional services, and the purpose is divided into enterprises and individuals: enterprises are application and management software, various industries need different customization, such as power and financial industry, tailored to different industries, or even according to the characteristics of a company to provide specialized software services, can enhance customer stickiness, in addition, such as Tencent, Baidu or Alibaba, more individuals in which experience, including online games, but also to enhance the user's stickiness.

Industry Big Exchange Exchange Business board or will become timely rain

Although the traditional strong technology enterprises, such as electronic manufacturing and computer hardware manufacturers weak growth, and even a lot of fall out of the list, but we can also find a lot of Shenzhen SME SME figure. Xie that although the current representative is not strong, but the future may become the technology industry's driving force.

Zhang Jidong said, not only a growing number of small and medium-sized board companies on the list, and the ranking of the former position on a number of small and medium-sized companies, which is a chance for SMEs is a challenge: first, the capital market for SMEs to provide a channel for financing; second, to give them soft constraints, to investors This is a promotion of corporate governance and an incentive for their roe to rise.

Although many of the listed companies in the sub-industry has done a good job. But Zhang Jidong said that the future of China's science and technology industry can not be separated from the gem, the main reason he thought: "First of all, the gem is more focused, it is mainly involved in the early growth of the company, in the late incubator, to technology-oriented, especially small and medium-sized mainly, not like smaller plates There are also some steel, traditional industries, entrepreneurial board with innovative technology companies mainly, although the risk is big but growing higher. ”

And the beneficiaries of the gem may have two categories: for some of their own entrepreneurial returnees, they use their own technology to start, for these companies to create a good venture to exit the channel, to help small companies bigger; another is some big science and technology companies own investment projects set up subsidiaries, separate listing.

Although some traditional technology companies, which now occupy a larger share of market capitalisation, are going downhill, future tech stocks may reach a shake-up through the SME board and the gem: Tilt to high technology. Societe Generale Securities Survey shows: 2007 through the investment market in the value of the industry distribution, the first is still TMT to reach 42%, the second is health, biotechnology industries such as, but the ratio is far lower than TMT.

For technology stocks, the advent of the gem is a good is also an opportunity, before the venture investment on the scientific and technological enterprises have concerns, a reasonable exit channel they are willing to invest, but has been a lack of channels. Zhang Jidong said: "The gem is not only the company and create a win-vote, for the country is also good, scientific and technological innovation fell to the market to promote it."

As soon as possible to solve the problem of their own lack of power is the industry's top priority, only this technology can be used as the driving force of China's industrial upgrading.