Manufacturing represents sophisticated cooperation among different departments of business, such as procurement, engineering, and quality control. As the globalization has been a common phenomenon, effective management of cross-functioning teams becomes a major challenge for most businesses. Manufacturing execution systems (MES) are made for improving manufacturing accuracy and efficiency. These are process-oriented production management systems that are used for the real-time execution of production plans as well as for getting feedback from the processes. They are generally connected to numerous systems at the process automation level. These comprise traditional data collection and all other procedures that have a real-time effect on the process of production. Manufacturing execution systems is a total solution including software and services to enhance factory automation efficiency. The systems provide complete service on automation of the manufacturing system and procurement system. To satisfy customers’ needs, manufacturers are dedicated to offering high-quality products at affordable prices with in time delivery. Thus, enhancing production quality and efficiency is a critical challenge faced by the manufacturers. The manufacturing process starts with material procurement. When all the materials arrive in the warehouse, the assembly process begins. After the device is assembled and passed through the quality control process, all the qualified goods will move to the packing area. Finally, these goods would be shipped out based on the order details. The accuracy of cost estimation, quality record and analysis, progress control of orders, etc., are the major parameters considered to enhance manufacturing efficiency.

The industry landscape chapter gives a brief knowledge about the various product developments, partnerships, mergers & acquisitions, and collaboration strategies implemented by the companies operating in the application modernization tools market.Market initiative strategy is adopted by the companies to expand their footprints across the world to meet the growing demand of customers. The players operating in the application modernization tools market are focusing on products enhancements by integration of advanced technologies.

疫情影响下，复工后全民开启“在线云”办公模式。各地政府和企业也鼓励近期以弹性办公等方式复工，如北京经济技术开发区管理委员会副主任陈小男表示，鼓励中小企业创新生产经营模式，以弹性办公、网络云办公等方式减轻疫情对生产经营的影响，支持中小企业稳定发展。

我们认为：短期看，用户在线访问带来对底层云计算设施需求的大幅增长，阿里、腾讯等云计算服务商近期均迅速加大了云计算资源的投放；中长期来看，2020 年是国内5G 规模商用元年，未来几年将是新一轮流量高增长的时期。我们认为流量侧短期和长期需求共振，相关产业链公司迎来投资机遇。

2019 年为我国 5G 商用元年，2020 年进入5G 建设加速期，主设备商受益确定性强， 建议关注中兴通讯（ 000063.SZ ） 和烽火通信（600498.SH）。此外，光纤光缆和基站需求有望随 5G 建网周期的开启而回升， 建议关注估值具有安全边际的弹性标的中天科技（600522.SH），亨通光电（600487.SH）。互联网基础设施建设建议关注光环新网（300383.SZ）。互联网基础设施和5G 推进双领域受益的光通信行业建议关注中际旭创（300308.SZ）、光迅科技（002281.SZ），天孚通信（300394.SZ）和新易盛（300502.SZ）。长期来看，自主可控通信关键芯片建议关注光迅科技（002281.SZ）。

数据流量是数据中心产业链核心驱动，我们认为云计算基础设施需求将在流量增长及云化趋势下加速释放。推荐：宝信软件、光环新网、数据港、浪潮信息、中际旭创；建议关注：星网锐捷、紫光股份、新易盛、剑桥科技、华工科技、奥飞数据。

传媒板块指数上涨3.24%，上证指数下跌3.38%，深圳成分指数下跌0.66%，创业板指数上涨4.57%。本周传媒板块涨幅前五:方直科技(61.15%)、全通教育(56.23%)、昂立教育(51.45%)、出版传媒(37.89%)、昆仑万维(36.95%);板块涨幅后五: 国旅联合(-13.14%)、四通股份(-13.16%)、盛讯达(-13.81%)、新文化(-13.89%)、长方集团(-16.95%)。

行业股价涨幅较年中提升，但整体仍跑输大盘：截至12月31日收盘，传媒指数年初至今上涨20.58%，跑输大盘及创业板指。在申万28个行业中排名第17。

昨日TMT 板块走势继续出现分化。电子板块表现强势，全天收涨1.44%，跑赢上证综指1.05 个百分点，涨幅列申万28 个一级行业第4 位。通信、传媒、计算机板块走势疲弱，分别收跌0.87%、1.12%和1.19%，分别跑输大盘1.26、1.51 和1.58 个百分点。