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中信建投:信創板塊景氣度持續回升 建議關注細分領域龍頭廠商
中信建投研報稱,覆盤信創及工業軟件高景氣行情,初期以政策催化和市場空間演繹爲主,中後期則主要受益於行業訂單高增長以及重點企業業績釋放。根據歷史招投標數據以及相關產品限價標準,結合黨政與行業從業人員數量和工信部設備更新政策綜合測算,黨政信創市場空間約爲6200億元,行業信創市場規模約8097億元;工業軟件及工業操作系統潛在空間超2000億元。當前信創相關招投標數目環比穩定,反映信創板塊景氣度持續回升。黨政信創省市級替換基本完成,資金支持推動信創替換縣鄉級下沉,行業信創中金融、運營商等細分領域替換也步入深水區。此外,行業信創持續滲透,金融、運營商全面佈局,能源、醫療、教育等多行業滲透加速。相比於2018—2021年“政策演繹—招投標落地—業績兌現”的牛市行情,本輪信創深化帶來的機會更多聚焦於景氣度復甦、招投標及業績兌現。建議重點關注基本面較好、細分領域的龍頭廠商。
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