Summary of the latest developments 1 Icinsights expects capital expenditure in the semiconductor industry to increase by 24% to $190.4 billion in 2022. According to icinsights data, for the first time since 19931995, the semiconductor industry will see double-digit spending growth for three consecutive years. We believe that in order to meet the market demand, the trend of global wafer factory expansion is obvious, and the new capacity in the mainland is particularly considerable, which is expected to continue to drive the demand for semiconductor equipment. Driven by the dual trend of production expansion and domestic substitution, domestic semiconductor equipment manufacturers are expected to accelerate their independent development. Considering that the significant expansion of the wafer factory mainly starts from the end of 2020, and the construction cycle will take about 1-2 years, the new production capacity will be released in 20222023, and the demand for semiconductor materials is expected to explode. It is suggested to pay attention to Advanced Micro-Fabrication Equipment Inc.China(688012) , Naura Technology Group Co.Ltd(002371) , Konfoong Materials International Co.Ltd(300666) , Hangzhou Lion Electronics Co.Ltd(605358) , Anji Microelectronics Technology (Shanghai) Co.Ltd(688019) , etc. 2. At the MWC world mobile communication conference, glory magic4 series mobile phones were released, upgraded in performance, display, image, security and many other aspects, and tried to break through the global high-end mobile phone market through differentiated functions. In terms of performance, glory magic4 series mobile phones are equipped with a new generation of Xiaolong 8 mobile platform, which improves CPU performance by 20% and reduces energy consumption by 30% compared with the previous generation of Xiaolong 888 mobile platform. They adopt industry-leading cortex-x2cpu architecture, adrenogpu, x655g modem and the latest 4nm process technology; In terms of display, it is the first in the industry to carry 1920hz high-frequency PWM dimming function on ltpo screen to achieve fluency, power saving and eye protection; In terms of image, upgrade the multi subject fusion computational photography technology; In terms of security, glory magic4pro pioneered the smart privacy call protection function for the first time, which solves the common sound leakage problem of many smartphones. It is suggested to pay attention to Dbg Technology Co.Ltd(300735) , BOE, Byd Company Limited(002594) electronics, Visionox Technology Inc(002387) , Wuhu Token Sciences Co.Ltd(300088) , Huizhou China Eagle Electronic Technology Co.Ltd(002579) , Shenzhen Desay Battery Technology Co.Ltd(000049) , Shenzhen Desay Battery Technology Co.Ltd(000049) , Cpt Technology (Group) Co.Ltd(000536) , etc.
Driven by the strong demand for 5g terminals and automotive electrification, the profit side of the electronics industry will accelerate growth in 2022 and maintain the “recommended” rating. In terms of domestic substitution of semiconductors, it is suggested to pay attention to the field of wafer foundry Semiconductor Manufacturing International Corporation(688981) (0981. HK), Huahong semiconductor (1347. HK), etc; Maxscend Microelectronics Company Limited(300782) ( Maxscend Microelectronics Company Limited(300782) . SZ), Wingtech Technology Co.Ltd(600745) ( Wingtech Technology Co.Ltd(600745) . SH), Montage Technology Co.Ltd(688008) ( Montage Technology Co.Ltd(688008) . SH) with core competitiveness in the design field; In terms of equipment, it is suggested to pay attention to Naura Technology Group Co.Ltd(002371) ( Naura Technology Group Co.Ltd(002371) . SZ), Advanced Micro-Fabrication Equipment Inc.China(688012) ( Advanced Micro-Fabrication Equipment Inc.China(688012) . SH), etc. In terms of automotive electronics, it is suggested to pay attention to the intelligent cockpit company Foryou Corporation(002906) ( Foryou Corporation(002906) . SZ), camera enterprise Shunyu optical technology (2382. HK), Lianchuang Electronic Technology Co.Ltd(002036) ( Lianchuang Electronic Technology Co.Ltd(002036) . SZ), Ofilm Group Co.Ltd(002456) ( Ofilm Group Co.Ltd(002456) . SZ) and vehicle specification CIS supplier Will Semiconductor Co.Ltd.Shanghai(603501) ( Will Semiconductor Co.Ltd.Shanghai(603501) . SH), etc. In terms of consumer electronics, it is recommended to pay attention to the leading VR manufacturer Goertek Inc(002241) ( Goertek Inc(002241) . SZ) and the core targets of the iPhone industry chain Luxshare Precision Industry Co.Ltd(002475) ( Luxshare Precision Industry Co.Ltd(002475) . SZ), Avary Holding (Shenzhen) Co.Limited(002938) ( Avary Holding (Shenzhen) Co.Limited(002938) . SZ), etc. In terms of LED, it is suggested to pay attention to downstream display faucet Leyard Optoelectronic Co.Ltd(300296) ( Leyard Optoelectronic Co.Ltd(300296) . SZ), LED chip faucet Sanan Optoelectronics Co.Ltd(600703) ( Sanan Optoelectronics Co.Ltd(600703) . SH) and Chinese led solid crystal machine faucet Shenzhen Xinyichang Technology Co.Ltd(688383) ( Shenzhen Xinyichang Technology Co.Ltd(688383) . SH).
Risk warning: the downstream demand is less than expected, and the risk of domestic substitution is less than expected.
