The industry will have a bright future in the next few years:

1. Cloud computing

It is the general trend for enterprises to migrate to the cloud. It can be seen that:

1) the growth of public and private cloud markets is still going hand in hand, not a zero-sum game;

2)IaaS level: it is more and more important to have a diversified business application ecosystem, such as Amazon, Google, Microsoft, etc.

3)SaaS level: mainly concentrated in human resources, OA, CRM, marketing, B2B commodity procurement and other fields, such as SalesForce, Sap, Oracle, etc.

4)PaaS level: There are no independent giants, and it is more likely that IaaS giants will extend upward or SaaS giants will extend downward in the future.

the domestic cloud computing market is still in its infancy, and the market cake is becoming more and more attractive. We predict:

1) Although IT giants such as Ali, Tencent and Huawei have entered one after another, the complexity of China's enterprise-level market still makes opportunities at IaaS level;

2)SaaS level: In addition to focusing on the above sub-areas, we should also focus on analyzing whether specific products and services meet the actual market demand of domestic customers.

Second, big data

The total financing of the big data industry in 213-215 was 8 million US dollars, 1.54 billion US dollars and 2 billion US dollars respectively; In 213-215, there were 1 financing incidents, 42 financing incidents and over 5 financing incidents respectively. "Big Data+"has penetrated into almost all industries, such as "Big Data+Retail" represented by Alibaba, "Big Data+Medical Care" represented by Lilac Garden, and "Big Data+Real Estate" represented by SouFun. Our investment strategies in this field are as follows:

1) For resource-based big data companies, the data resources are large and complete enough, the data value is imaginative enough, and the data mining integration ability is strong enough;

2) For technology-based big data companies, the technology threshold is high enough for the company to quickly form scale effect and network effect, so as to quickly occupy enough market share;

3) For application-oriented big data companies, the application market is large enough, and the company has good growth and strong realizability.

Third, virtual reality

We believe that the virtual reality industry is already on the eve of the outbreak. From a simple logic point of view, people can no longer be satisfied with the services of 2D images and 3D images. In fact, virtual reality is to create a panoramic environment with the help of computer system and sensor technology, so that users can mobilize all their senses to generate human-computer interaction in this brand-new environment, bringing users a perfect sense of immersion, and at the same time, users can exert their infinite imagination to create in this environment.

At present, the global virtual reality industry is still in its early stage after nearly a hundred years of development, and the supply chain and various supporting facilities are still being explored. However, the development prospect of virtual reality is imaginative, and it has a wide application space, such as games, movies, education, sports, Ad Astra, medical care and so on. At present, all major consulting organizations are optimistic that virtual reality will achieve ultra-high-speed growth in the next five years, and the outbreak is close at hand. We think:

1) In a short period of time, the manufacturers who can lay out the virtual reality industry chain have investment value from hardware equipment, content production to platform distribution;

2) In the long run, the content of virtual reality will be the soul of the industry, and it will be full of opportunities to invest in mature content industry manufacturers.

iv. artificial intelligence

according to Tractica's forecast, the market scale of artificial intelligence will grow to $11.1 billion in 224. The inITial technology accumulation and data accumulation have had a significant scale effect in the past, so the tide of artificial intelligence reshaping all walks of life is about to strike, and it will trigger a new round of IT equipment investment.

in the next 3-5 years, the tide of intelligence will bring trillions of markets. In the field of artificial intelligence, our main concerns in 216 include:

1) computer vision recognition (typical of face recognition);

2) computer adaptation (taking all kinds of robots as examples);

3) Subdivide the underlying technical fields (such as natural language processing, machine learning and knowledge mapping).

v. 3D technology

After the investment boom of 3D printing in the past few years, 3D printing technology has entered a new stage, but the application market still needs to be broken. Experts predict that in 216, the market size of China 3D printer will be expanded to 1 billion yuan; At the same time, the Wohlers report shows that the global market scale can reach 7 billion US dollars in 216. If the application market can be opened, it may exceed 1 billion yuan or even reach 2 billion yuan by 22. Taking the medical industry as an example, it is estimated that the market size will reach 1.9 billion US dollars by 215.

The next round of hot investment in 3D technology includes:

1) Special materials for 3D printing and its technology;

2)3D modeling and customized design software;

3) innovative enterprises with industry model around 3D printing technology (that is, the combination of 3D printing with education, medical care and industry 4.).

VI. Unmanned technology

At present, unmanned technology is mainly used in unmanned aerial vehicles, driverless cars and other fields. The United States Teal Group predicts that the global UAV market will increase from 6.4 billion US dollars in 215 to 11.5 billion US dollars in 224, and the development trend is rapid. Driverless cars have not been unveiled yet, but McKinsey predicts that by 225, there will be an output value of $2 billion to $1.9 trillion in this field. At that time, the output value of driverless cars in China will be at least trillion, with unlimited potential.

In this field, we have laid out the first brand of industrial UAV, Yiwate, and will continue to pay attention to the following targets for a long time:

1) With the gradual liberalization of policies, giants such as Baidu, Google, BMW and Audi have stepped up the layout of driverless cars, and we focus on leading enterprises in various fields such as automotive electronics related hardware, car networking related software and complete vehicles;

2) In the field of UAV, we will focus on the subdivision of component manufacturing and overall design, and high-quality enterprises with great potential among UAV solution providers.

VII. Robots

In China, the problem of aging population is increasingly prominent, labor costs are rising sharply and the overall economic structure is facing transformation. The future rise of robots and its huge market scale have been recognized by major institutions. We believe that there will be huge investment opportunities in the robot industry, from industrial robots, cooperative robots to service robots, both in the short term and in the long term:

1) The future industrial robots will have strong self-learning ability and professional ability, and make innovative extensions to more subdivided fields and structures;

2) Cooperative robots can work collaboratively with people and are widely used in various fields of life, which is a cross-border product;

3) There is no upper limit for service robots, which have market scale potential far exceeding that of industrial robots and cooperative robots. We believe that service robots for helping the elderly and medical care will lead the development.

VIII. New Energy

China is the largest new energy market, and developing new energy industry is an inevitable choice to change China's energy structure, reduce dependence on fossil energy and reduce environmental pollution. Great financial subsidies promote the rapid maturity of the new energy industry, which contains rich investment opportunities:

1) Lithium batteries have formed a complete industrial chain in China, and the demand for downstream power and energy storage batteries is huge;

2) China's new energy vehicle market developed by spurt in 215, with production and sales exceeding 3, vehicles, with a year-on-year increase of over 3%, making it the largest new energy vehicle market in the world;

3) Compared with lithium batteries, supercapacitors have obvious advantages in fast charge and discharge, long cycle life and high power density, and can be widely used in urban public transport, rail transit, wind power generation, oil drilling, port machinery and other fields.

IX. New materials

New materials are the cornerstone of the new economy, and China's rapid development in cutting-edge manufacturing fields such as military industry, high-speed rail, nuclear power and aerospace can not be separated from breakthroughs in the field of basic materials. With the continuous accumulation of scientific research strength in basic chemistry, basic materials and nanotechnology, innovations in the field of new materials will continue to emerge, and new materials will become a market with trillions of output value:

1) Compared with the existing materials, graphene has obvious advantages in flexibility, mechanics, optics, electricity and microscopic quantum characteristics, and its future application industries will span electronics, biomedicine, military industry, precision manufacturing and chemical industry.

2) Carbon fiber is a relatively mature emerging material. Compared with traditional materials, it is of good quality and light weight. In the future, efforts should be made to reduce costs and break through foreign technology blockades.

3) New membrane materials can be widely used in water treatment, waste gas treatment, lithium batteries and other fields;

4) Bio-based materials, used in dentistry and orthopedics, can replace and repair the functions of human tissues and organs.

X. Medical Services

In p>216, the driving factors of the medical service industry came from the continuous decline in the prosperity of the pharmaceutical industry and the changes in the drug price formation mechanism. Driven by graded diagnosis and treatment and doctors' multi-point practice, public hospitals use private capital to revitalize existing assets and create incremental prices. The medical service business provides the commercial export of new technology, and the new technology provides high value-added projects for the medical service business. Our investment logic is:

1) a business model that is in line with the interests of hospitals and is based on medicine, such as rehabilitation medicine, laboratory medicine and high-end medical imaging;

2) Chain specialized hospitals with certain thresholds, such as women and children, assisted reproduction, ophthalmology, orthopedics, medical beauty, etc.

3) Chain third-party services such as health management and third-party diagnosis;

4) High-end hospitals with core technologies and expert resources in first-tier cities.

Xi. Life technology and life science

With the development of basic disciplines such as genomics and molecular biology, biological agents and life science and technology are playing an increasingly important role in treatment. In terms of biological agents, more and more monoclonal antibodies have a breakthrough effect on intractable diseases such as tumors and diabetes, and "blockbuster" new drugs are frequent. Among the top ten drugs sold in the world in 214, seven were biological agents, among which adalimumab ranked first in global sales, with annual sales reaching $11 billion; In life sciences, the global gene sequencing market has increased from 7.941 million dollars in 27 to 4.5 billion dollars in 213, with a compound growth rate of 33.5%, and it is expected to maintain rapid growth in the next few years. Emerging technologies such as cellular immunotherapy are increasingly becoming important treatment methods.

Based on the above background, we believe that biotechnology and life sciences are undoubtedly extremely important investment directions in the field of big health, and the key sub-sectors include:

1) advanced gene sequencing and data analysis companies;

2) Technology-driven biological preparation company;

3) a precision medical company that combines gene sequencing and individualized drug delivery;

4) New biotherapy with technological breakthrough, such as CAR-T cell immunotherapy.

XII. Medical devices

The medical device market started late in China, but it developed rapidly. From 21 to 214, the market size of medical devices in China increased from 17.3 billion yuan to 255.6 billion yuan, an increase of nearly 15 times, with a compound growth rate of 23%. However, from the comparison between the size of medical device market and the size of drug market, the global medical device market is roughly 4% of the global drug market, while the proportion in China is less than 15%. With the development of economy and the improvement of domestic aging, the medical device market has great development potential. At the same time, the promulgation of a number of policies such as "Special Approval Procedures for Innovative Medical Devices (Trial)" has laid a solid foundation for the rapid growth of domestic innovative medical devices. The key segments include:

1) high-end medical devices combined with advanced technologies such as robots and artificial intelligence;

2) innovative domestic medical devices;

3) intelligent household medical devices;

4) Imported substitute products of existing mature medical devices.

XIII. Internet medical care

The rapid development of information technology has triggered great changes in various industries and brought great opportunities to the medical industry. With the cross-border integration of big data, cloud computing, Internet of Things and other multi-domain technologies and the Internet, new technologies and new business models have rapidly penetrated into various medical segments, and an intelligent era will be fully opened from prevention, diagnosis, treatment and drug purchase. At the same time, the unique problems of China medical industry, such as unreasonable resource allocation, low service quality and tense doctor-patient relationship, all depend on the improvement of Internet technology.

At the same time, it should be noted that Internet medical care is still in its infancy in China, and the reform of traditional medical care is bound to be a long and arduous process. Therefore, we believe that investment in this field should be optimistic but cautious. The key segments include:

1) pharmaceutical e-commerce platform;

2) Medical Big Data Analysis Company;

3) chronic disease management/health management online platform;

4) Intelligent and wearable medical equipment.

XIV. Healthy old-age care

The healthy old-age care industry is driven by urgent demand and policy encouragement, and will usher in a very certain development opportunity. In the future, our government and individuals will face great pressure to provide for the aged. By 214, the number of elderly people aged 65 and above will reach 14 million, accounting for 1.1% of the total population, and by 22, the number of elderly people will increase to 26 million. At the same time, providing for the aged, as a part of "healthy China", has been promoted to the national strategic level. We will explore investment opportunities along the multi-level old-age care service system proposed by the state, which is based on home, supported by community and supplemented by institutions:

1) Enterprises involved in the core industry of old-age care-rehabilitation medical care, which have the development mode of feasibility and chain potential;

2) Enterprises that actively explore innovative pension modes.

XV. Sports

In the past year, various giants in China began to target the assets of overseas high-quality sports targets (especially the rights to broadcast sports events and sports operating companies), and gradually moved closer to the mature sports profit model-tickets, media broadcasting rights, sponsorship and sports derivatives, such as LeTV's acquisition of exclusive rights to broadcast the Hong Kong Premier League and MLB for three seasons; Wanda acquired Infront Sports Media and World Triathlon Company (WTC) to become Wanda Sports; Ali Sports won the right to broadcast the NFL in Chinese mainland and so on. Therefore, sports industry targets with high-quality event resources and a wide audience will continue to be sought after by capital.

xinzhongli, as the earliest and most widely distributed investment institution in the sports industry in China, will continue to pay attention to the following areas:

1) operating companies with high-quality sports event IP in various segments of sports;

2) E-sports industry that impacts traditional sports, including content and live broadcast platform;

3) Intelligent hardware related to sports+data analysis software+startup companies that can be diverted to the health care field;

4) Internet fitness upstream and downstream companies focusing on mass fitness.

XVI. Entertainment

China's 215 is a year in which the investment circle and BAT have made an attack in the field of culture and entertainment. Consumption upgrading makes Chinese people's consumption habits gradually tilt towards culture and entertainment, and the consumption crowd and consumption amount are getting younger and older. 215 is also a hot year for independent IP, with a large wave of TV dramas such as Hua Qiangu, nirvana in fire and Tomb Raider Notes being popular, and goodbye mr. loser, monster hunt, "Embarrassing" series and Ghost Blowing Lights constantly refreshing domestic movie box office records. Besides,