Guotai Junan: Focus on the positive impact of debt on the three directions of financial IT, credit innovation, and government IT

Zhitongcaijing · 10/14 23:09

The Zhitong Finance App learned that Guotai Junan Securities released a research report stating that it is concerned about the positive impact of debt on the three directions of financial IT, credit innovation, and government IT. This debt conversion is expected to change the market's expectations for financial investment in the credit innovation sector. It is recommended to focus on the strong recovery of credit innovation investment in the party and government sector, which is closely related to finance. Among them, the biggest change is a possible new player in the industry in the future. As the last important part of the Hongmeng system ecosystem, the Hongmeng PC version is expected to adopt an early ecological compatibility and later autonomous co-construction model similar to mobile terminals to promote the development of the application ecosystem beyond expectations. With heavy investment from Huawei, it is expected to become a leader in domestic operating systems.

Financial IT empowers AMC. At the press conference of the State Information Office on October 12, the Minister of Finance specifically mentioned supporting the resolution of local debt risks, increasing debt amounts on a large scale, and supporting local resolution of hidden debts. AMC is an important part of the non-performing asset disposal process, but the content of the asset package is complicated, and the power of technology can better improve the pricing accuracy and recovery rate of asset packages. Financial IT companies such as Yuxin Technology announced on October 8 the establishment of a joint venture under its own management in Xiamen. It is expected to empower the AMC industry through technology. In addition to the business model of providing IT products, it is also expected to transform into a SaaS model to participate in operations and share dividends by providing technical services.

Xinchuang, the primary investment direction for local governments after easing liquidity. High debt levels limit the fiscal space of local governments. Guotai Junan Securities believes that this debt conversion is expected to change the market's expectations for financial investment in the credit and innovation sector, and suggests focusing on the strong recovery of credit innovation investment in the party and government sector, which is closely related to finance. Among them, the biggest change is a possible new player in the industry in the future. As the last important part of the Hongmeng system ecosystem, the Hongmeng PC version is expected to adopt an early ecological compatibility and later autonomous co-construction model similar to mobile terminals to promote the development of the application ecosystem beyond expectations. With heavy investment from Huawei, it is expected to become a leader in domestic operating systems.

Pan-government IT, debt conversion is expected to reverse government IT spending. Guotai Junan Securities believes that debt conversion has opened up the government's fiscal space. On the one hand, the recovery in government spending will benefit businesses such as Xindian Software and companies directly related to government procurement. On the other hand, IT projects accumulated earlier may advance in an orderly manner, and the prosperity in the government IT sector will return to an upward channel. Related companies have been suppressed in recent years, and their business strategies have shifted to reducing costs and increasing efficiency. It is expected that after the revenue side is reversed, the profit side is expected to unleash greater flexibility.