The electronics industry index rose or fell this week: as of December 31, 2021, Shenwan electronics industry rose 0.54% this week, outperforming the CSI 300 index by 0.15 percentage points, ranking 20th among Shenwan’s 28 first-class industries; Shenwan electronics sector rose by 1.14 percentage points in December 2021, underperforming the CSI 300 index by 1.10 percentage points; Shenwan electronics sector rose 16.04 percentage points in 2021, outperforming the CSI 300 index by 21.24 percentage points; The five secondary sub sectors of Shenwan electronics, except SW electronics manufacturing, all rose, and the range from high to low was: SW other electronics (4.08%), SW semiconductor (1.06%), SW optical Optoelectronics (0.72%), SW components (0.54%) and SW electronics manufacturing (- 1.03%).
Sector Valuation: as of December 31, 2021, the PE (TTM) of the electronic industry was 33.90 times, lower than the average value of the last year (the average value of the last year was 38.118 times); The valuation of SW semiconductor, SW other electronics, SW components, SW optical optoelectronics and SW electronics manufacturing are 67.16 times, 43.12 times, 33.77 times, 17.64 times and 30.31 times respectively.
View of the electronics industry week: the global electronics industry is still in a high boom period. On the one hand, grasp the domestic substitution process in the fields of semiconductor equipment / materials, power semiconductors and IC carrier boards, on the other hand, pay attention to the performance driving effect of downstream innovations such as AR / VR, automotive electronics and miniled on supply chain enterprises. It is recommended to pay attention to Goertek Inc(002241) (002241), Lianchuang Electronic Technology Co.Ltd(002036) (002036), Wuhu Token Sciences Co.Ltd(300088) (300088), Electric Connector Technology Co.Ltd(300679) (300679), Naura Technology Group Co.Ltd(002371) (002371), Hubei Dinglong Co.Ltd(300054) (300054), Hangzhou Silan Microelectronics Co.Ltd(600460) (600460), Starpower Semiconductor Ltd(603290) (603290), Avary Holding (Shenzhen) Co.Limited(002938) (002938), Suzhou Dongshan Precision Manufacturing Co.Ltd(002384) (002384), Shenzhen Fastprint Circuit Tech Co.Ltd(002436) (002436), Victory Giant Technology (Huizhou)Co.Ltd(300476) , Sanan Optoelectronics Co.Ltd(600703) (600703), Foshan Nationstar Optoelectronics Co.Ltd(002449) (002449) Leyard Optoelectronic Co.Ltd(300296) (300296) and other relevant beneficiary enterprises.
Risk tip: downstream demand is not as expected, domestic substitution is not as expected, and industrial innovation slows down.
