In January, China’s mobile phone shipments decreased by 17.7% year-on-year, focusing on the glory and folding screen industry chain
According to the data of China Academy of communications and communications, the shipment volume of mobile phones in China market in January was 33.022 million, a year-on-year decrease of 17.7%; Among them, the shipment of domestic brands decreased by 24% year-on-year, and the shipment of international brands increased by 15.3% year-on-year. Under the pressure of the overall shipments of smart phones, we continue to recommend the subdivided directions with performance exceeding the expected potential in 2022: 1) glory industrial chain: according to the counter point data, the shipments of 4q21 glory Chinese market increased by 100% year-on-year, ranking second with a market share of 17%, and Dbg Technology Co.Ltd(300735) is recommended; 2) Folding screen industry chain: according to canalys’ prediction, the global shipment of folding screen mobile phones will increase from 8.9 million in 2021 to more than 30 million in 2024 (53% CAGR in 21-24 years). It is recommended to Jiangsu Gian Technology Co.Ltd(300709) , Kunshan Kersen Science & Technology Co.Ltd(603626) , Wuhu Token Sciences Co.Ltd(300088) .
The number of users of meta horizon platform has reached 300000, and the yuan universe ecology has gradually taken shape
According to qingting.com reported on February 18, meta announced that its social VR platform horizon has 300000 users, and the number of virtual worlds created by users on horizon worlds has reached 10000. In addition, according to the report of jiwei.com on February 19, “yuancosmos”, as one of the “hot words” of the two sessions, appeared in the government work reports of many places in 2022. Shanghai, Zhejiang, Wuhan, Hefei and other places have incorporated yuancosmos into the future industrial development system. We believe that with the gradual formation of the “meta universe” ecology, the VR / AR industrial chain is expected to usher in a golden opportunity for development. We continue to recommend Goertek Inc(002241) , Wuhu Token Sciences Co.Ltd(300088) , Hongli Zhihui Group Co.Ltd(300219) , Kunshan Kersen Science & Technology Co.Ltd(603626) and other industrial chain related enterprises.
In the past 21 years, the global semiconductor sales reached a new high, and the growth rate of automobile chips and analog chips ranked first
According to the data of SIA, in the past 21 years, the global semiconductor sales increased by 26.2% year-on-year to a record high of US $555.9 billion, and the shipment volume also increased to a record high of 1.15 trillion. In terms of application fields, the demand for vehicle gauge chips increased significantly, and the sales increased by 34% year-on-year to US $26.4 billion; In terms of product categories, analog chips grew the fastest, with sales increasing by 33.1% year-on-year. In addition, analog chip company ADI released fy1q22 results as of January 29, with revenue of US $2.68 billion (yoy72.3%, qoq14.5%), and the median revenue of fy2q22 is expected to be US $2.8 billion (yoy68.6%, qoq4.5%), which will continue to hit a quarterly high. We believe that the demand for automotive chips and analog chips is still strong, and continue to recommend Sg Micro Corp(300661) , Wuxi Chipown Micro-Electronics Limited(688508) , Wingtech Technology Co.Ltd(600745) , Semiconductor Manufacturing International Corporation(688981) .
Key portfolio
Consumer electronics: Guangzhou Shiyuan Electronic Technology Company Limited(002841) , Wingtech Technology Co.Ltd(600745) , Goertek Inc(002241) , Jiangsu Gian Technology Co.Ltd(300709) , Dbg Technology Co.Ltd(300735) , Luxshare Precision Industry Co.Ltd(002475) , Wuhu Token Sciences Co.Ltd(300088) , Suzhou Etron Technologies Co.Ltd(603380) , Kunshan Kersen Science & Technology Co.Ltd(603626) , Avary Holding (Shenzhen) Co.Limited(002938) , Hangzhou Hikvision Digital Technology Co.Ltd(002415) , Boe Technology Group Co.Ltd(000725) , Hongli Zhihui Group Co.Ltd(300219) , Suzhou Shihua New Material Technology Co.Ltd(688093) , Shenzhen Everwin Precision Technology Co.Ltd(300115) , Tcl Technology Group Corporation(000100)
Semiconductors: Sg Micro Corp(300661) , Amlogic (Shanghai) Co.Ltd(688099) , Huahong semiconductor, Semiconductor Manufacturing International Corporation(688981) , Will Semiconductor Co.Ltd.Shanghai(603501) , Wuxi Etek Microelectronics Co.Ltd(688601) , Wuxi Chipown Micro-Electronics Limited(688508) , Shanghai Bright Power Semiconductor Co.Ltd(688368) , Shanghai Awinic Technology Co.Ltd(688798) , Ingenic Semiconductor Co.Ltd(300223) , 3Peak Incorporated(688536) , Maxscend Microelectronics Company Limited(300782) , Gigadevice Semiconductor (Beijing) Inc(603986) , Tongfu Microelectronics Co.Ltd(002156) , Jcet Group Co.Ltd(600584) , Sai Microelectronics Inc(300456)
Equipment and materials: Shanghai Wanye Enterprises Co.Ltd(600641) , Naura Technology Group Co.Ltd(002371) , Anji Microelectronics Technology (Shanghai) Co.Ltd(688019) , Hubei Dinglong Co.Ltd(300054) , Advanced Micro-Fabrication Equipment Inc.China(688012) , National Silicon Industry Group Co.Ltd(688126) , Zhejiang Mtcn Technology Co.Ltd(003026) ; Guangdong Create Century Intelligent Equipment Group Corporation Limited(300083) 、 Shenzhen Yanmade Technology Inc(688312)
Passive components: {3000026}, {3000028}, {630028}
Risk warning: the epidemic situation repeatedly affects the downstream demand; Industrial development is less than expected; Industry competition intensifies.
