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工信部發放四張5G牌照,5G建設有望加快

工信部6月6日向中國電信、中國移動、中國聯通、中國廣電發放5G商用牌照。時間點快于市場預期,意味著中國5G商用的時間表從2020年提前到2019年。

自從去年年底工信部批復了5G試驗頻率的使用許可後,國內三大基礎電信運營商中國電信、中國移動、中國聯通就開始在5G建設上展開初步布局,2019年三大運營商在5G方面的資本開支預算上仍較謹慎,中國移動表示2019年將建設3-5萬個5G基站,總投入不會高于2018年水平(172億元);中國電信預計2019年5G建設投入預算爲90億元,建設2萬個5G基建;中國聯通2019年在5G組網上將投入60-80億元。

我們認爲,由于5G牌照是5G網絡部署的基礎,牌照的提前發放,意味著5G商用的步伐將會提速,預計2020年起5G建設和投資將有望加快落地。待5G手機大範圍推出攤薄成本降低價格後,2020-2021年國內消費者將開始大規模更新手機,産業鏈將迎來歷史性機遇。相關個股我們推薦中國鐵塔(788.HK),京信通信(2342.HK),建滔積層板(1888.HK),比亞迪電子(285.HK),中國通信服務(552.HK)。

撰稿: 章晶研究分析員
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