The Blockchain Sector Is On Fire, And Institutions Remind Us To Avoid Risks Such As Pure Currency Speculation.

Reporter | Wu Shaozhi

Edit |

Today, the Shanghai and Shenzhen stock markets collectively opened higher, with increased trading volume. They continue to slowly strengthen in the afternoon. The trading volume throughout the day reached 520.3 billion yuan, and market sentiment improved significantly.

In the market, the concept of blockchain broke out and more than a hundred stocks rose by the daily limit, driving financial technology, cloud computing, network security and other sectors to rise sharply, highlighting market hot spots. The breeding sector has diverged, and enthusiasm for pork stocks has cooled.

On October 24, the Political Bureau of the CPC Central Committee held its 18th collective study meeting to study the current status and trends of blockchain technology development. When presiding over the study, General Secretary Xi Jinping emphasized that the integrated application of blockchain technology plays an important role in new technology innovation and industrial transformation.

In this regard, many institutions predict that the blockchain industry will usher in a golden development period.

Liu Yang, a computer industry analyst at Shenwan Hongyuan Securities, believes that finance is the first application scenario to be implemented and has national strategic significance. In addition, the current main application scenarios of blockchain include copyright protection, games and education. Among the A-share related targets, Radio and Television Express (.SZ), Hundsun Electronics (.SH), and Aerospace Information (.SH) have made great progress in blockchain this year; the blockchain and artificial intelligence of Yuangguang Software (.SZ) Smart revenue increased year over year. 394% (certificates of deposit and supply chain finance are expected to be included in revenue and will grow rapidly in 2020), and the margins of implemented product solutions exceed those of traditional businesses.

At the same time, blockchain has also driven the enthusiasm of institutions to allocate technology stocks. Zhang Xia, a strategy analyst at China Merchants Securities, said that from a strategic perspective, the change in the tone of blockchain is another confirmation of the starting point of the new technology cycle. Actively embracing new technologies is a prerequisite for taking a leading position in the future global technology industry. Health status. In the medium term, Zhang Xia's team is still optimistic about the excess returns of the technology sector, and the general direction of allocation will gradually shift from hardware to software, and from equipment to applications.

Wei Hongmei, TMT industry analyst at Dongguan Securities, believes that as blockchain rises to the national strategic level and coupled with extensive downstream application needs, the domestic blockchain market is expected to usher in a golden development period. IDC data shows that my country's blockchain market size was approximately US$83 million in 2017 and is expected to reach US$1.42 billion in 2022. The average annual compound growth rate from 2017 to 2022 is as high as 76.3%. The market has exploded with huge potential.

In terms of specific investment, Wei Hongmei suggested starting from the underlying architecture and application level of the blockchain, focusing on two main lines of investment: First, the underlying main line: the underlying infrastructure (such as servers, storage, etc.) and the technology that supports the operation of the blockchain (such as data). Security, edge computing, cloud computing, etc.); The second is the main line of application: blockchain industry solution provider.

Song Jiaji, an analyst at Guosheng Securities Communication Group, recommends three main lines of blockchain companies: first, financial services, including supply chain finance, financial technology, financial security, blockchain asset hardware storage, etc.; second, financial services, including supply chain finance, Financial technology, financial security, blockchain asset hardware storage, etc.; The second is people's livelihood services, including electronic invoices, payments, electronic certification, copyright services, etc.; The third is government affairs scenarios.

At the application level, the financial field is considered to be the best soil for blockchain development. Previously, there were rumors in the market that the central bank's digital currency will be launched in November, and institutional analysts believe this is more likely.

In terms of investment timing, Luo Lu, a computer industry analyst at Sinolink Securities, believes that the investment rhythm of "blockchain+" can learn from the previous wave of "Internet+", that is, from infrastructure to industry applications to industrial ecology. The secondary market should focus on three major categories of investment targets: the first category, companies that were “shoved” in the “blockchain+” gold rush era; the second category, vertical industry technology leaders—“blockchain+” potential industries King; The third category, enterprises with forward-looking layout and leading position - the leader in the new era.

On the other hand, investors also need to pay attention to related risks.

Yang Delong, executive general manager of Qianhai Open Source Fund, reminded investors that blockchain applications will take a long time. In the short term, you can pay attention to the popularity of blockchain investment, but in the long term, you must start from the fundamentals, study some companies that truly have blockchain technology, and avoid risks such as pure currency speculation.

Zhang Yulong, a strategy analyst at CITIC Securities, said that the maturity of blockchain technology is low at this stage, which is reflected in A-share investment. There is less substantive related investment content and mainly conceptual theme investments. For the market, as the short-term economic downturn is confirmed and liquidity is under pressure, market risk appetite is expected to increase. The financial technology sector represented by blockchain and digital currency will become one of the main driving forces for technology stocks. one.

标签： #Block #Application #Technology #Main Line #Sector