2020年第四季度证券服务应用的季活跃用户规模为1.52亿，因市场行情回调，环比有所降低。整体来看，2020年证券类市场无论是投资者数量还是移动端活跃用户规模均大幅度增长，证券类APP的用户粘性也稳步提升，人均使用时长从2019年第三季度的36.8小时增长到2020年第四季度的39.3小时。

Remote deposit capture is a technology-based method used in banks and financial institutions to allow end users to submit electronic images of checks in place of paper or original versions. It offers merchants and consumers numerous benefits such as eliminating visit to banks, accelerating check clearing process, improving cash flow, and reducing return item risk. The adoption of remote despite capture solution in banking has increased significantly, as it helps financial institutions to retain customers and has low processing fees. The remote deposit capture technology market has been positively affected due to the outbreak of the COVID-19. This is attributed to the fact that governments across developing countries of Asia-Pacific have imposed lockdown to prevent crowding in banks and financial institutions.

A nurse call system is a device used in various healthcare facilities. It allows a patient to contact a nurse or nurse’s station conveniently. Some nurse call systems also allow staff to communicate with each other, and others have integrated staff or equipment locator options. While the function of a nurse call system is easy to understand, the system itself is relatively complex and has a number of components.

Mobile payment is an alternative method for traditional payment systems where cash, cheques or credit cards are the medium of payment. Mobile payments provide customers a way to purchase any good or services with the help of wireless devices such as smartphones, tablets and others. In addition, mobile payments use different technologies such as NFC (Near Field Communication), SMS-based transactional payments and direct mobile billing, for improving the security of the transaction and to provide hassle-free transactions. Rise in penetration of smartphones across the globe and increase in the m-commerce industry in emerging countries are the major factors driving the growth of the market. In addition, upsurge in adoption of mobile payment services in emerging countries fuels the growth of the market. Furthermore, rising data breaches and security issues in mobile payments hampers the growth of the market. Furthermore, growth in usage of NFC, RFID and host card emulation technology in mobile payments and rise in demand for fast and hassle-free transaction services is expected to provide lucrative opportunity for the market.

Internet advertising is the process of using the internet as a medium to deliver marketing or promotional messages to an identified as well as intended audience. It helps to attract website traffic & brand exposure and is designed to encourage the targeted consumer to engage in a specific action such as making a purchase. It is one of the most effective ways for all size of businesses to find new customers, expand their reach, and diversify their revenue streams. The businesses are using internet advertising (such as banners, pay-per-call ads, payper- click ads, and pop-ups) in e-newsletters, on search engines, on compatible websites, and in online versions of magazines and newspapers as a way of reaching people who uses the internet for shopping or to gather information. Internet advertising not only helps brands to find the right audience but also helps keep the target audience engaged as it is a fast and easy way of advertising

The Global Off-Highway Vehicle Telematics Market is expected to reach USD 2.04 Billion by 2025 from USD 1.14 Billion in 2019, at a CAGR of 10.01% from 2020 to 2025. The market size for the Asia Pacific was USD 386.8 Million in 2019. Growing construction industry especially in APAC region, rising demand for the precision in agricultural activities, added focus on operational superiority in the mining industry and favorable government policies in increasing safety and security of off-highway vehicles has pushed the Off-Highway Vehicle Telematics Market in recent years. Further, global mobility scenario such as connected, independent, and electric impulsion have affected a number of industrial sectors. These factors are strongly supported by efficient back-end offices and effective usage of data analytics tools for smooth functioning.

Radio-frequency identification (RFID) is a type of data collection method, using low-power radio waves to transmit and receive information between tags and readers. In comparison to using barcode scanning for data collection, RFID does not require user-initiated, line-of-sight actions and can read and write to hundreds of tags within a reading area at the same time. Food safety regulations and the need for precise traceability makes RFID's association with the food and beverage industry exceptional. The use of RFID in food refers to companies conducting processes of manufacturing, packaging, and food storage. Such industries operate with a specific and personalized collection of food safety protocols and procedures, requiring a range of critical data points relating to each food product being produced. Relevant data include suggested dates of use, proper labeling, processing of food, product weight, and registration conditions, such as temperature and humidity.

Automotive software refers to the firmware and middleware operating system used for running in-vehicle embedded applications. Automotive software is generally a set of instructions that helps the user interact with underlying in-vehicle hardware and also perform control functions in a vehicle. Use of automotive software not only improved dashboard functions but also played an important role in improving safety systems, infotainment, control systems, and many other car features. Automotive software includes telematics, infotainment, powertrain, body control and comfort, communication, advanced driver assistance systems (ADAS) software

Smart railway is a technologically advanced approach to efficiently manage railway operations through sharing of rail data across rail infrastructure components, such as passengers, control centers, ticketing department, and freight. Smart railways incorporate a range of technologies such as Internet of Things (IoT), big data, cloud analytics, artificial intelligence (AI), global positioning system (GPS), and machine learning (ML). Smart railway solutions results in interconnected trains, infrastructure, and passengers to attain higher safety, optimized mobility, and lower costs. For the purpose of analysis, the report segments the global smart railways market into system, offering type, and region. Under the scope of the research, market comprises solutions, devices & components, and services that supports the rail companies to collect data to monitor and analyses all railway-related operations with high precision and accuracy.

疫情反复让用户把更多的时间和精力放在线上，与去年同期情况类似，在线视频、教育、游戏、直播电商等行业将直接受益于用户线上娱乐时间的增加，传统院线行业仍存在较大的风险。

5G规模建设开启 ，云计算进入实质性落地阶段 ，5G应用加速发展 ，2021 年建议沿着四条主线 5G基建、云计算 、5G新应用 、军工信息化布局优势白马标的和优质成长公司 。

截止至2021 年1 月18 日，SW 通信板块近7 个交易日整体上涨5.93%，在申万28 个板块中排名第3，通信板块反弹趋势初显。短期建议关注运营商和部分龙头设备商的估值修复行情，长期推荐关注产业链中游确定性和成长性均较强的光模块、物联网模组以及卫星互联网板块。

本周，三大运营商相继披露发布了12 月份运营数据报告，三大运营商2020 年全年的运营数据全面出炉。同时，工信部披露2020 年通信业统计公报及2020 年通信业主要指标完成情况。

车联网是5G 重要下游应用，产业链成熟度不断提升，应用场景落地在即。汽车的智能化、电动化使得车联网成为必然趋势，而车联网也是未来汽车实现自动驾驶的必由之路。4G 技术为车联网提供了基础功能和简单的应用场景；5G技术的到来，大大增强了车与车、车与人、车与道路基础设施的连接能力，解锁车联网全部潜能，助力车联网快速落地。

上周沪深300、上证综指、深证成指涨跌幅分别为-0.68%、-0.10%、-1.88%。CS 商贸零售板块涨幅为-1.36%。上周沪深300下跌，CS 商贸零售跑输大盘。

本周（2021 年1 月18 日-2021 年1 月22 日）上证综指上涨1.13%，深证成指上涨3.97%，创业板指上涨8.68%。本周一级行业指数中通信板块跌幅为1.44%。本周通信行业重要事件中，中国电信启动2021 年基站天线集采项目、无源器件集采项目；发改委新闻发布会强调5G、工业互联网等建设；三大运营商公布2020年全年用户数量，中国电信用户数量增长较多、内蒙古移动“5G+行业应用创新基地”在林格尔新区挂牌成立；美国拜登政府正式上台、韩国运营商LG U+将于2021 年6 月底终止2G 服务、巴西政府将允许华为参与5G 频段拍卖。5G 从“可用”到“好用”的进展有望再加速推进，维持对通信的“看好”评级。

2020 年Q4 通信板块占基金总持仓比重约为0.65%，较上季度（0.91%）再次出现小幅度下降，通信行业持仓由2020Q1（2.26%）下滑到2020 年Q4 的0.65%。通信板块持有总市值持续下降，2020 年Q4，基金重仓持有通信板块总市值为187.74 亿元，较Q3（202.52 亿元）环比下降7.3%，较2019Q4（172.59 亿元）同比增长8.78%，通信持仓持续走弱。通过3G 末期和4G 初期阶段来看，我们认为，随着数据流量的提升以及5G 下游应用的落地，将会有望带动通信板块趋势向好。