Original title: Chuangjin Hexin Fund Zhou Zhimin: Long and Short Trends Combine Layout of IoT Opportunities
It is the consensus of growth fund managers to tap investment opportunities like “stars and seas” in the technology track. In the view of Zhou Zhimin, the proposed fund manager of Chuangjin Hexin Internet of Things theme stock fund, the theme of Internet of Things will be an important part of the investment opportunities of the “star sea” in the science and technology track.
Zhou Zhimin pointed out that the application scenarios of the Internet of Things are rich in content and have sufficient vertical depth in the upper, middle and lower reaches of the industrial chain, and investment opportunities come one after another. Next, we will combine long-term and short-term trends to explore investment opportunities in various sub-fields such as electronics, communications, computers, and the Internet.
Growth comes from penetration and dominance
After graduating from Ph.D. Zhou Zhimin in 2011, he entered the investment industry directly. He successively engaged in industry research work in securities firms and fund industries. In 2014, he began to focus on TMT industry research. At the end of 2017, he began to manage public fund products and officially began investment work.
“The products I currently manage are basically technology-themed funds, mainly focusing on the technology sectors represented by electronics, communications, and computers. The investment framework corresponding to this can be summarized in six words:’technology, growth, and trends’.” Zhou Zhimin said that the rise in stock prices ultimately stems from the company’s performance growth. There are two major aspects of company growth-penetration and dominance. Among them, the penetration rate corresponds to the development process of an emerging industry “from 0 to 1” and “from 1 to N”. The stocks in the “0 to 1” development stage can be called “kite stocks”, and the stocks in the “1 to N” process can be called “aircraft stocks”. In short, the penetration rate mainly reflects industry growth.
Zhou Zhimin believes that dominance corresponds to the maturity stage after the slowdown of industry growth. At this time, investment opportunities are more reflected in the competitiveness, bargaining power, “moat” of the industry’s leading companies, the ability to resist in the face of adversity, and the increase in share. Ability and other aspects. “When the industry is good, companies with strong dominance are more profitable. When the industry is not good, companies with strong dominance can still make money. From the perspective of three to five years, the industry has not grown much, but the company has made a big step forward. step.”
But Zhou Zhimin also said that in addition to long-term trends, short-term trends are equally important, and the stock prices of good companies will inevitably fall after being overvalued. “Combining growth and trend indicators, and comprehensively judging the long-term space and short-term timing, can help predict the track’s prosperity and the timing of the outbreak in advance. This is both the key to success in growth stock investment and the difficulty of growth stock investment. From the perspective of the electric vehicle and semiconductor industries, the research conclusions made ten years ago and the current research conclusions have not changed much. These tracks are investment opportunities like the “stars and seas”, and it seems that they can be bought at any time. And hold. But if you really do this, the holding experience is not good, and it may be possible to buy at a staged high and not stick to a new high.”
Big investment opportunities in the Internet of Things
In order to lay out investment opportunities for future technological growth, the Chuangjin Hexin Internet of Things themed equity fund to be managed by Zhou Zhimin is currently being issued.
Zhou Zhimin pointed out that the Internet of Things, as a scene of future life, has great investment opportunities. From a horizontal perspective, the content of this application scenario is constantly expanding; from a vertical perspective, the upstream, midstream and downstream industry chains also have sufficient vertical depth. In the future, ordinary consumers will be able to directly feel the actual sub-scenario composition of wearable devices, smart homes, smart transportation, Internet of Vehicles, smart medical care, and smart buildings.
“Actually, Huawei proposed the famous ‘1+8+N’ full-scene strategy as early as 2019. In August 2020, Xiaomi Chairman and CEO Lei Jun announced in an internal letter that the core strategy of Xiaomi in the next decade will be upgraded to ‘ Mobile phone X AIoT’. Whether it is a technology hardcore player, a consumer electronics veteran or an Internet upstart, the Internet of Things (including IoT and AIoT) has been mentioned in the strategic position of the company’s development. However, the development speed of different scenarios and different links may be There is a sequence, so the investment opportunities in the Internet of Things sector may present a trend of hot spots and one after another.” Zhou Zhimin said.
Based on this, Zhou Zhimin believes that it is the right time to deploy the Internet of Things Fund at the current time. In addition to technology giants taking the Internet of Things as their future development strategy, the upstream and downstream industrial chain of the Internet of Things is also becoming more mature. More importantly, this is an industry where supply creates demand. The appeal of the leader and the maturity of the industrial environment will enable this industry to enter a stage of rapid development. In the future, after the establishment of the new fund, the investment will focus on the Internet of Things, linking up various “jewels” scattered in the fields of electronics, communications, computers, and the Internet.
Zhou Zhimin believes that using data flow as a clue, investment opportunities in the Internet of Things can be divided into four levels, namely the data acquisition layer and the data transmission layer (including 5G, NBIoT, wifi6, base stations, optical fiber and cable and other hardware or software or protocols. ), data processing layer (including data center, artificial intelligence, big data processing, analyzing and processing collected and transmitted data, and outputting results and instructions), data application layer (driving cars,robotCarrying goods, camera tracking targets, drone spraying pesticides, automatic oven baking, etc.).
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