Report summary
Core view of this week: the electronics industry index rose 0.93% this week. Among the 350 targets, after deducting the suspension targets, 123 targets rose throughout the week, 70 targets rose more than 3 points per week, 51 targets rose more than 5 points per week, 18 targets rose more than 10 points per week, 221 targets fell throughout the week and 142 targets fell more than 3 points per week, 77 with weekly decline of more than 5 points.
Last week, the market did not show a bright performance under the drag of index adjustment, but the electronic segment became a bright color in the decline at the end of the year. First, we saw that the core targets of the fruit chain had a relatively independent trend under the determination and expectation of next year. The targets such as Lixun, Lansi, goer, Dongshan, Pengding and huanxu all hit a rebound high last week. The evidence is that the global sales of iPhone 13 are still very hot.
As can be seen from JPMorgan’s latest report, the delivery time of the whole series of iphone13 has been the shortest since its official launch. The average arrival time of general iPhone 13 is reduced from 5 days in early December to 2 days at present; The high-end iPhone 13 Pro Series has been reduced from 18 days at the beginning of the month to 5 days at present. Of course, the arrival time of 13pro series is still long, which also shows that consumers still prefer high-end mobile phones, which is also a clear trend for the core target of A-share fruit chain. In addition, apple is likely to launch the next generation of affordable iPhone with 5g chip in the first half of 2022. The pricing of this model may be set below $400, which is further lower than that of the previous generation se2, which means that Apple will achieve a full range of coverage from 2800 to 10000 yuan in the 5g market in the first half of next year, This will continue to put great pressure on Android mobile phone sales next year and further consolidate Apple’s global market share. We still maintain the industry “recommended” rating.
In addition, although there are some doubts about the growth expectation of domestic new energy vehicles in the market recently, this will not hinder the overall penetration and growth of new energy vehicles, especially for the electronics sector, the development of new energy vehicles, energy storage and photovoltaic will clearly drive the rapid development of power device segments, This driving force is far from the present two years ago. We are optimistic about the further advanced space after adjustment of Chinese power device IDM manufacturers represented by IGBT, such as Yang Jie technology, Wuxi Nce Power Co.Ltd(605111) , Hangzhou Silan Microelectronics Co.Ltd(600460) , and the corresponding front packaging lead frame beneficiary company Ningbo Kangqiang Electronics Co.Ltd(002119) .
Industry focus: according to the wechat news, on December 9, the foundation laying ceremony for the expansion of Anson semiconductor’s Furong back-end factory in Malaysia was held. It is expected that the relocation of the basic warehouse and the administration on the first floor can be realized in May 2022, and the new production capacity can be realized. After the expansion, the production capacity will be increased by 25 billion, the production capacity will be increased by 85%, and iteration will be realized in digitization and automation, playing a more important role in the product planning of Anson semiconductor.
The smart phone industry is gradually warming up, and the overall sales of folding smart phones have soared with the leading manufacturer Samsung taking the lead in reducing prices. DSCC, a research and adjustment organization, estimates that the shipment of folding smart phones will reach 3.8 million in this quarter, a sharp increase of more than 450% over the same period last year, and the market share of Samsung will increase to 95%.
According to jiwei.com, on December 23, Huawei’s winter flagship new product launch was held as scheduled in Shenzhen. At this launch, Huawei helped AITO release the first intelligent car “ask the world M5” equipped with Hongmeng OS intelligent cockpit. In terms of price, the M5 rear drive standard version is 250000 yuan, the 4WD performance version is 280000 yuan, and the 4WD flagship version is 320000 yuan.
Key stocks and logic recommended this week: the targets of our key stock pool include: Shenzhen Desay Battery Technology Co.Ltd(000049) , Lens Technology Co.Ltd(300433) , Wingtech Technology Co.Ltd(600745) , Ningbo Kangqiang Electronics Co.Ltd(002119) , Tdg Holding Co.Ltd(600330) , Sunwoda Electronic Co.Ltd(300207) , Shenzhen Fastprint Circuit Tech Co.Ltd(002436) , Dbg Technology Co.Ltd(300735) , Bomin Electronics Co.Ltd(603936) , Bozhon Precision Industry Technology Co.Ltd(688097) , 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.
