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I. Market Review
Yesterday, the three major indexes fell sharply, and the Shanghai Stock Exchange fell sharply by 4.95%. It was irrational in the afternoon. The whole market was more than 90% of the company’s green disk, and 100 shares fell by the limit. Yesterday, the market sentiment was repaired.
Second, the market has fallen sharply for two consecutive days, releasing the risk, and today’s market sentiment will improve.
III. focus on the industry logic of [power semiconductor / IGBT]:
1) power semiconductor / IGBT benefits from the high prosperity of photovoltaic, wind power, new energy vehicles and other industries: it is the core device of photovoltaic and wind power inverter; In terms of new energy vehicles, they are mainly used in electronic control systems, accounting for about 37% of the cost of electronic control systems;
2) benefits from domestic substitution: the relevant markets in the world are mainly occupied by foreign leading manufacturers. Infineon, Mitsubishi and Fuji motor together account for 58% of the global module market share, and the domestic penetration rate is less than 15%. There is a large space for domestic substitution.
3) companies with short-term opportunities, such as: Wuxi Nce Power Co.Ltd(605111) China National Medicines Corporation Ltd(600511) , Starpower Semiconductor Ltd(603290) Starpower Semiconductor Ltd(603290) , Yangzhou Yangjie Electronic Technology Co.Ltd(300373) Yangzhou Yangjie Electronic Technology Co.Ltd(300373) ;
Investment strategy: at the index level, there is a reversal of monthly low, the middle line bottoms out the region and actively selects individual stocks. The sector with leading stocks continues to drive internal low-end stock opportunities, which is a dynamic direction in the near future. It is suggested to focus on hot low-end stock opportunities such as medicine, infrastructure and digital economy, and grasp the low absorption opportunities related to power semiconductors.
