The Zhitong Finance app learned that Huafu Securities released a research report saying that the data element listing policy has been implemented and will be officially implemented on January 1, 2024, which means that the first batch of corporate balance sheet expansions with clear ownership of data is already in full swing. Data monetization, or the least resistant expansion path for listed companies, is expected to speed up data value discovery and data profit model exploration, and resonate with entry. Focus on data resource holders: Super Map Software (300036.SZ), Surveying and Mapping Co., Ltd. (300826.SZ), Shanghai Steel Union (300226.SZ), Aerospace Hongtu (688066.SH), etc.; data operators: Taiji Co., Ltd. (002368.SZ), Shenzhen Sunda A (000032.SZ), Yi Hualu (300212.SZ), etc.

Huafu Securities's views are as follows:

After the establishment of the Data Bureau, there were frequent actions, and the pace of policy accelerated markedly. It is expected that subsequent top-level design catalysis will continue.

From November 7 to 9, Liu Liehong, director of the National Bureau of Data, and his entourage visited Hangzhou and visited companies such as Daily Interactive and Digital Dream Factory. On November 10, Liu Liehong attended the launch conference of the Beijing Data Infrastructure System Pilot Zone and delivered an important speech, revealing that the National Bureau of Data is studying and drafting relevant guidance documents to promote the construction of a data transaction and circulation system from a top-level design. According to the official website of the Development and Reform Commission, recently, the Price Department of the National Development and Reform Commission and the National Bureau of Data prepared three groups to hold a symposium to listen to the opinions of relevant parties on issues such as speeding up the establishment and improvement of price formation mechanisms that meet the characteristics of public data elements and promoting the paid use of public data for digital development according to government guidance.

Public data circulation operations are expected to be implemented as soon as possible, and the circulation of data elements will substantially accelerate.

According to the Development and Reform Commission, in the next step, the National Development and Reform Commission and the National Data Administration will work with relevant parties to speed up the study and establishment of a public data price formation mechanism and relevant system regulations to promote compliance and efficient circulation and use of public data. The “Article 20 on Data” makes it clear that public data refers to data generated by party and government organs, enterprises and institutions in the process of carrying out their duties or providing public services in accordance with the law; public data has the characteristics of few ownership disputes, a high degree of concentration, and strong control. According to data from Yi Hualu, currently 80% of China's high-value data is directly or indirectly controlled by the government. We believe that public data, as a source of high proportion of supply in the future data element market, is expected to accelerate the integration of data with all walks of life, become a breakthrough in speeding up the circulation of data elements, and inject vitality into the data element trading market after joining circulation transactions.

Big data applications in segmented fields are expected to take the lead in geographic resources, spatial and temporal data, etc.

Spatio-temporal geographic data is static data that covers the widest range of fields other than people. In August, Zhang Jixian, director of the Department of Land Surveying and Mapping of the Ministry of Natural Resources, said at a regular press conference that surveying and mapping geographic information is both an important strategic data resource and a new type of production factor.

Risk warning: risk of policy implementation falling short of expectations, risk of business model development falling short of expectations, etc.