Core Logic: We look up at Huawei, the monument of China science and technology, and find that there is an elegant and powerful underlying algorithm such as E=MC2 behind its complicated business. We try to copy Huawei's business development process in the past 30 years with a concise and elegant framework, and try to spy on the technology in the next 20 years through Huawei's window.
The bottom flywheel starts the carrier business: the carrier business is the starting point of Huawei's story. After 2G start, 3G catch-up and 4G synchronization, it achieved 5G transcendence. The company's communication equipment products are completely distributed in the whole industrial chain of base station access network, transmission network and core network. After more than 4G years of accumulation, Huawei surpassed Ericsson to become the world's largest telecom equipment operator for the first time in 20 17, and its business income in 20 18 was 294 billion yuan. In the 5G era, the company formulated industry communication standards to seize the first-Mover advantage. By the end of February, 2065438+2009, Huawei had signed more than 30 commercial contracts with the world's leading operators and continued to lead the world.
The second layer, flywheel, consumer business: consumer business takes smart phones as the core hardware, radiating hardware terminals such as mobile phone accessories, personal computers and tablets, wearable devices, smart home products, and Internet applications. The success of Huawei's consumer business also applies to our "4A" moat theory, starting from the face value: from the ultimate design and technology of appearance; Obsessed with interaction: Huawei has gradually become the leader of innovation in the field of human-computer interaction such as optical touch; Loyal to the ecology: to create an intelligent Internet of Things ecosystem in the whole scene of consumer business; The ultimate supply chain management system from a global perspective.
The third-tier flywheel turns to enterprise-level business: enterprise-level business aims to expand the trillion-dollar blue ocean. Based on its accumulated capabilities in carrier business, Huawei has expanded the ICT industry. 20 18 revenue exceeds 10 billion USD, with a compound annual growth rate of 40%. China's revenue exceeded 50 billion yuan, the number of cloud partners increased by nearly 1 times, and the number of online users increased by 1 times. The company cooperates with tens of thousands of companies to achieve win-win results and share successful results. Through "ubiquitous connection+digital platform+ubiquitous intelligence", we are committed to building the base of digital China.
The fourth layer, flywheel, full stack+full scene chip: full stack+full scene chip is the underlying technical support of Huawei's 2C, 2B and 2T services. 1, Kirin is the world's leading domestic SoC chip, mainly for Huawei smartphones. 2.Ascent AI chip adopts "Da Vinci architecture" to achieve full scene coverage, while providing AI solutions for 2C consumer products, 2B servers and 2T IOT terminals. 3. Kunpeng chip is mainly used in Taishan series servers, providing powerful computing power for cloud computing business. 4.5G chip, including terminal baseband chip (Ba Long series) and base station core chip (plough chip), is the core of the digital world.
Recommended target: Huawei industrial chain and the whole AIoT industrial chain benefit target.
1, pan-semiconductor: North Huachuang, A,, Sanan Optoelectronics.
2. Mobile phone chips: Ding Hui Science and Technology, Will, Wen Tai Science and Technology and Zhao Yi Innovation.
3. Intelligent hardware: Xiaomi Group, Cobos, Huami Technology and Mi Yun Technology.
Risk warning: the expansion of new business is less than expected, and the construction of Internet of Things platform is less than expected.