Main points:
Third generation semiconductor: focus on the explosion of SiC downstream demand in the second half of 2022
In the key data dimension, the sorting and tracking of major mainstream electric vehicle manufacturers planning to mass produce or deliver specific models (using SiC electric drive or high-voltage charging system) are added. We found that many models, such as Xiaopeng G9, Tesla modelxplaid, Audi Q6 eTron and Great Wall salon mechatron, will be intensively mass produced and delivered in the second half of 2022. Therefore, the downstream demand of the subsequent third-generation semiconductor industry is expected to be significant and worthy of attention.
In terms of key data, the third generation semiconductor industry index rose 4.7% against the trend in February; The downstream demand side is still strong. In February, the sales volume of Byd Company Limited(002594) · Han EV was 9291, a significant increase of 85% over the same period last year. Tesla Motors China wholesale sales exceeded 56515 units in February, a year-on-year increase of 209%. In terms of industrial capital changes, on February 17, innoseco, a semiconductor wafer and chip developer, obtained nearly 3 billion round D financing; On February 16, Zhanxin electronics won the strategic financing of Xiaopeng automobile. In terms of events and policies, on February 22, Roshow Technoiogy Co.Ltd(002617) non-public offering of shares raised no more than 2.94 billion yuan for projects such as the third generation power semiconductor industrial park; On February 17, Infineon invested more than 2 billion euros to expand the production of third-generation semiconductors.
The central bank’s digital RMB: the issuance and circulation encryption end indexes have outperformed the gem for five consecutive months
In terms of key data, under the catalysis of the Winter Olympic Games, the indexes of digital currency issuing end and circulation encryption end rose by 4.1% and 7.4% respectively in February, both significantly outperforming the gem, and have won for five consecutive months; The pilot version of the digital RMB app is less updated. In terms of events and policies, on February 11, Fortune magazine reported that “China’s digital RMB has broken visa’s monopoly on payment services for the Olympic Games for 36 years”; On February 25, the people’s Bank of China and other four departments jointly issued the “14th five year plan” for the development of financial standardization, which proposed to “promote the development of legal digital currency standards and explore the establishment and improvement of legal digital currency infrastructure standards”.
VraR virtual reality: Samsung plans to launch VR devices to compete with meta and Microsoft
In terms of key data, the upstream parts manufacturing end index fell by 3.4% and the midstream module OEM end fell by 1.4% in February, both falling below the benchmark of – 0.95% of the gem. In terms of industrial capital changes, on February 17, EventX, a SaaS provider of virtual exhibition, obtained US $18 million financing from Hillhouse venture capital. In terms of events and policies, on February 28, according to South Korean media reports, Samsung plans to launch a VR device to compete with meta, Microsoft and apple in the market; On February 25, according to etnews of South Korea, Apple’s AR / VR headset may adopt micro OLED display.
The tracking and analysis of four-dimensional system is expected to be an explosive scientific and technological frontier
Industry observation is an important part of the industry comparative research launched by Hua’an strategy team. It aims to focus on the meso industry dimension, from the perspective of excess return, select industries with comparative advantages for continuous tracking and in-depth mining through top-down combing and research.
As the core direction of industrial observation, science and technology frontier takes the future oriented and innovation driven as the main line. According to the recent investable value of the secondary market, it is divided into three categories: basic exploration (class I), gradual application (class II) and expected explosion (Class III). The investment value is low, medium and high in turn. For three different types of scientific and technological frontiers, we plan to establish different tracking and research systems and frameworks. For the “expected outbreak category”, we have established a four-dimensional tracking system of key data changes, industrial capital changes, inventory of hot events and evolution of relevant policies, trying to capture its investment value on the eve of its outbreak.
As the eighth chapter of “expected explosion” in the frontier of science and technology, it first briefly introduces the four-dimensional tracking framework, and then promotes the four-dimensional tracking, research and analysis in the three directions of the third generation semiconductor, the digital currency of the Central Bank of China and VraR virtual reality.
Risk tips
The development of the industry is less than expected; Data change tracking is not timely; Adjustment of index sample target
