China's mobile phone shipments were less than expected, and the industry waited for recovery: in February 2022, China's smartphone shipments were 14.549 million, a year-on-year decrease of 31.8%, and 11.374 million 5g mobile phones, a year-on-year decrease of 24.5%, accounting for 76.5% of mobile phone shipments in the same period, and 5g penetration rate decreased. In the fourth quarter of 2021, global smartphone shipments decreased by 3.2% year-on-year, and the overall recovery trend of the industry is still weak. Since 2022, China's mobile phone shipments have continued to be lower than expected, which is mainly affected by factors such as the downturn of market consumption caused by the national economic downturn and slowdown in growth during the epidemic, insufficient innovation of smart phones and the lengthening of user replacement cycle. With the arrival of the traditional peak season in the second half of the year and the centralized release of new machines, the prosperity of the industry is expected to pick up.
The equipment expenditure of wafer factories continues to grow, and the atmosphere of wafer foundry is still good. Semi predicts that the equipment expenditure of global front-end wafer factories will increase by 18% year-on-year in 2022, reaching a record high of 107 billion US dollars, and will continue to maintain a healthy growth in 2023. Following the 7% increase in wafer capacity in 2021, the capacity will increase by 8% this year and 6% in 2023. Under the background of the epidemic, there is a shortage of silicon wafer capacity. With strong capacity utilization and continuous high demand expectations, the wafer foundry boom is expected to remain high.
The ideal L9 is equipped with mini led interactive screen, which accelerates the penetration of miniled on-board display: in terms of on-board display, the newly released ideal vehicle SUV ideal L9 is matched with the safe driving interactive screen designed with HUD, and adopts miniled technology and multi touch technology to realize the touch interaction of instrument screen while displaying driving information. In addition to the LED backlight equipped with the "mini" LED display in the rear of jd.com in March last year, it is expected that the "mini" LED display will also be delivered in the rear of jd.com. The trend of automobile intelligence will drive the area growth demand of on-board display screen. With the rapid development of automatic driving, the demand for on-board display is increasing. The on-board display equipped with mini LED has the characteristics of high brightness, long service life, fast response time and large range of high and low temperature. Compared with traditional LCD, miniled on-board display has obvious competitive advantages, and it is expected to accelerate the penetration.
The shipment volume of folding screen mobile phones increased rapidly, and the industry entered the fast lane of development: according to omida, the shipment volume of folding screen smart phones reached 9 million in 2021, with a year-on-year increase of 309%. In the context of the decline in smartphone shipments, folding screen mobile phones grew against the trend. At present, Huawei, oppo, Xiaomi and other manufacturers have laid out the folding screen mobile phone market, and more brands will be launched in the future.
Cinno research predicts that the sales volume of folding screen smartphones in the global market is expected to reach 15.69 million in 2022. In the future, with the decline of folding machine cost, technological innovation and product enrichment, the market demand for folding screen phones will be further expanded.
Investment suggestion: focus on the leader of China's ODM and power semiconductor in the field of automotive electronics Wingtech Technology Co.Ltd(600745) ; The semiconductor industry recovers periodically. It is recommended to seal and test Jcet Group Co.Ltd(600584) , Tianshui Huatian Technology Co.Ltd(002185) , Tongfu Microelectronics Co.Ltd(002156) ; Semiconductor materials National Silicon Industry Group Co.Ltd(688126) , Anji Microelectronics Technology (Shanghai) Co.Ltd(688019) ; Semiconductor equipment Advanced Micro-Fabrication Equipment Inc.China(688012) , Shanghai Hanbell Precise Machinery Co.Ltd(002158) , Kunshan Kinglai Hygienic Materials Co.Ltd(300260) ; Power semiconductor manufacturer China Resources Microelectronics Limited(688396) ; Related companies of LCD panel: BOE and TCL technology. Ultra high definition display and backlight dual drive, miniled industry chain continues to make efforts. It is suggested to pay attention to Shenzhen Refond Optoelectronics Co.Ltd(300241) , Hongli Zhihui Group Co.Ltd(300219) , Sanan Optoelectronics Co.Ltd(600703) , Hc Semitek Corporation(300323) , Xiamen Changelight Co.Ltd(300102) , Shenzhen Jufei Optoelectronics Co.Ltd(300303) , Ledman Optoelectronic Co.Ltd(300162) , Wg Tech (Jiang Xi) Co.Ltd(603773) .
Risk warning: the epidemic control is not as expected; Downstream demand is lower than expected; Capacity expansion is less than expected; Trade frictions in the field of science and technology have intensified.
