Maida Digital (002137): In-depth report on smart marketing, accurate and efficient smart hardware global layout

Maida Digital (002137): In-depth report on smart marketing, accurate and efficient smart hardware global layout
Report Summary: Strategic layout of smart marketing, a data-driven one-stop marketing solution to accurately promote SaaS products.With the popularity of mobile Internet and the fragmentation of people’s attention, China’s online advertising market is expected to reach $ 800 billion in 2020.Through investment and acquisition of Yingpintong, Liudurenhe, Fushu Technology, Shunwei Advertising, Lixuan Advertising and Qisi Advertising and other similar technology companies and advertising companies, cut into the enterprise-level SaaS field and developed a “mobile CRM system”Smart marketing solution-smart marketing “radar” platform, realizing big data mining and analysis.In the field of smart marketing, the company will achieve long-term strategic layout through external expansion of mergers and acquisitions and internal research and development. In the future, it will also continue to focus on “big data + artificial intelligence” to help the company be more accurate and efficient in marketing in the Internet + era.  The LED industry is picking up, actively expanding overseas customers and establishing its own brand.The company’s LED intelligent lighting business has benefited from the favorable factors such as the recovery of the industry and the reduction of manufacturing costs. Its business has developed rapidly in overseas markets and established its own brand.At the same time, the company increased investment in research and development, actively applied for patents for inventions, and a number of new R & D products were sold on the market. It is expected that the company’s LED smart lighting business will develop at a high speed.  The development potential of the intelligent hardware industry is huge, and the company is in a period of possibility of explosive business growth.The Sino-U.S. Trade war in 2018 accelerated the development of China’s chip industry. The state’s funding and policy support for the chip field is also increasing, and upstream chip equipment will fully benefit.As the equipment supplier of Changdian Technology, Huatian Technology, Tongfu Microelectronics and other enterprises, ASM PT will become the beneficiary of the rapid development of domestic chips. As an important supplier of electronic components for ASM PT chip equipment, Shida will fully benefit.  Investment rating and suggestions: We believe that the company in the smart marketing sector benefits from the rapid 杭州夜网论坛 development of the industry and the pull of downstream demand, and will continue to grow and successfully promote the transformation of the company. The traditional business has a solid foundation, nearly 20 years of industry experience and stable large customers.Supported by resources, from the brand to the supply chain, the main customers in the field of intelligent manufacturing in the future have been locked. A new round of high growth can be expected.The company’s EPS for 2018-2020 is expected to be -0.68/0.20/0.24 yuan, corresponding PE is -12/40/35 times, maintain “Buy” rating.  Risk Warning: The market for smart marketing is worse than expected, and the demand for smart hardware is lower than expected.

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