Core view of this week: the electronics industry index rose by 2.45% this week. Of the 350 targets, 233 rose throughout the week, 128 rose more than 3 points per week, 82 rose more than 5 points per week, 19 rose more than 10 points per week, 114 fell throughout the week, 28 fell more than 3 points per week, and 16 fell more than 5 points per week.
This week, the overall investment sentiment of A-Shares was obviously affected by the conflict between Russia and Ukraine. In fact, the impact of the conflict between Russia and Ukraine on the global electronic industry chain is quite limited in essence. The biggest impact is mainly concentrated on the price of some semiconductor consumables. First, most of the supply of inert gas neon for semiconductors comes from Russia, Ukraine and other places. Second, Part of the palladium required for the production of sensors and memory, the supply volume of Russia accounts for about 30% of the global market. Of course, the inventory of such consumables will generally be more than half a year. Although it will not be out of stock due to war, it may lead to a rise in prices. It is suggested to pay attention to the relevant beneficiary consumables companies and maintain the “optimistic” rating of the sector.
Samsung S22 has been out of stock since it was not listed. It is expected that the waiting period from ordering to receiving the popular models will be more than two months. First, the main production and assembly processes of Samsung mobile phones are concentrated in Vietnam, which is deeply affected by the epidemic. In addition, this shortage also reflects that the global chip supply and demand is still tight. Therefore, The short-term supply situation of Samsung’s supply chain is still difficult to improve
Infineon also said in its notice letter to dealers this week that the current semiconductor demand is still at the peak level, the semiconductor products produced by wafer foundry are still in short supply, the upstream cost pressure is still increasing, and indicates that the supply-demand imbalance of the global chip industry will continue in 2022. Although the current tension between supply and demand in some markets such as consumer electronics has loosened, the industry, new energy, automobile and other links still maintain a high degree of industry prosperity, and the shortage of wafer foundry capacity has led to the delay of order delivery in other supply chain links upstream of such markets. If this situation can be alleviated, it still needs to be continuously tracked.
Industry focus: according to the data released by IDC, the global shipments of foldable mobile phones (including flip and folding screen) reached 7.1 million in 2021, an increase of 264.3% over 2020. It is predicted that the shipments of foldable mobile phones will reach 27.6 million in 2025, and the compound annual growth rate (CAGR) from 2020 to 2025 will be 69.9%.
Reuters reported that based on the diversification of raw material inventory and procurement, large chip companies predict that the Russian Ukrainian crisis will have limited interference on the semiconductor supply chain. Due to other disturbances and conflicts, many companies are better prepared than in recent years, and chip manufacturers are on the sidelines because they have diversified their supply chains.
According to the Korean Economic Daily Global Edition, Korean chip manufacturers are expected to reduce imports of the core solvent of the EUV process because local companies have successfully produced the material on a large scale. The company expects South Korean chip manufacturers to start using their PGMEA for the EUV process in the first half of the year, thereby reducing solvent imports by about 100 billion won ($83.7 million) a year.
Highlights of stocks and logic in this week’s highlights and logic: the highlights of this week highlight stocks and logic: our key stock pool targets include: Shenzhen Fluence Technology Plc(300647) \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\, Sihui Fuji Electronics Technology Co.Ltd(300852) .
Risk tips: (1) systemic risk caused by the unexpected decline of the market; (2) Focus on the uncertainty risk of promoting relevant matters of the company.
