Miniled penetration rate is improved, and the demand for relevant equipment is paid attention to
Downstream technology and process iteration are very important driving factors in the special equipment market. With the maturity of miniled manufacturing process and the decline of cost, its advantages of high contrast, low energy consumption and high color gamut are becoming more and more obvious. Recently Sanan Optoelectronics Co.Ltd(600703) announced that this year, we continued to receive purchase orders for miniled chips from a single major international customer; Currently, apple is accelerating the application of miniled display on tablets and laptops. The demonstration effect of head manufacturers will accelerate the improvement of miniled penetration. It is suggested to focus on Advanced Micro-Fabrication Equipment Inc.China(688012) , the company’s MOCVD is replaced by import, and its blue LED manufacturing equipment has occupied a leading position in the international general lighting field of gallium nitride LED; It is suggested to focus on Shenzhen Xinyichang Technology Co.Ltd(688383) , the company’s main product is high-speed solid crystal machine, and the company expects to grow by 50% in the field of miniled equipment this year; In addition, it is suggested to focus on Suzhou Tztek Technology Co.Ltd(688003) , Wuhan Jingce Electronic Group Co.Ltd(300567) .
China’s boom in the oil service industry continues and overseas recovery is imminent
Affected by the Russian Ukrainian war and the high implementation rate of OPEC production reduction, the crude oil price hit a new high in recent years and exceeded US $100 / barrel in the short term. The oil price continues to be higher than the comfort zone, and the global oil service market is expected to continue to recover in 2022. From China’s perspective, crude oil and natural gas are highly dependent on foreign countries, so it is urgent to ensure national energy security. Driven by the “seven-year action plan”, the “three barrels of oil” have increased capital expenditure. CNOOC expects to double its workload and proved reserves by 2025, of which the proved reserves will exceed 5 billion barrels. China’s offshore oil and gas resources have great exploitation potential and sustainability. As a global leader in oil and gas recovery, it is suggested that the company should focus on the scale of oil and gas recovery and have strong profitability.
Industry rating and opinion update this week
China’s manufacturing industry is in a period of continuous transformation and upgrading, which will bring broad market space to the high-end equipment industry and maintain the industry’s “overweight” rating. It is recommended to focus on industrial automation, self controlled semiconductor equipment, carbon neutralization, accelerating new energy industry and benefiting photovoltaic equipment and lithium battery equipment, urban rail equipment benefiting from new infrastructure, and oil service industry gradually recovering under the promotion of energy security.
This week’s core recommendations
Advanced Micro-Fabrication Equipment Inc.China(688012) : the leading position of the company in the etching field of semiconductor equipment and the gradual large-scale production of the company’s MOCVD equipment in the field of mini led. The company is committed to building a platform company and will gradually grow into an influential semiconductor equipment company in the world.
China Oilfield Services Limited(601808) : as the leader of offshore oil and gas exploitation services, the company occupies the advantages of technology and scale, and has strong profit elasticity in the recovery period of global oil service; China has benefited from the steady increase in the certainty of “three barrels of oil” capital expenditure under the national energy security strategy, and the company is expected to enter the release period of profit flexibility.
Dongguan Yiheda Automation Co.Ltd(301029) : with the advantages of localized services, the applicability of various automation equipment in local industries and the supporting advantages of Chinese manufacturing system, the company continues to maintain the improvement trend of China’s market share in the context of the upgrading of China’s manufacturing industry and the rise of emerging industries.
Risk tips
The macroeconomic boom is lower than expected; China’s fixed asset investment is less than expected; The implementation of policies in key industries is less than expected; There is uncertainty in the company’s promotion of relevant matters.
