Core view of this week: the electronics industry index fell by 5.3% this week. Of the 350 targets, 80 rose throughout the week after deducting the suspended targets, 34 rose more than 3 points per week, 24 rose more than 5 points per week, 265 fell throughout the week, 174 fell more than 3 points per week, 126 fell more than 5 points per week, and 38 fell more than 10 points per week.
This week, without the deterioration of visible industry and company fundamentals, most of the targets in the electronics sector have undergone significant adjustments. Considering that the intensive release period of the annual report in 2021 and the first quarterly report in 2022 is approaching, and the clear driving of the demand for various upstream parts in emerging fields such as automotive electronics, Mr and miniled throughout 2022, after this round of adjustment, The allocation cost performance of the overall sector has been further highlighted, especially the consumer electronics, PCB and other sectors. The downward space for valuation has been further narrowed, the safety margin has been consolidated, and the “optimistic” rating of the industry has been maintained.
At the ces2022 conference, Hesai technology first publicly exhibited one million fixed-point and equipped with the first generation of self-developed new vehicle specification laser radar. It is a product for the ADAS front loading market and will be fully mass produced and delivered in the second half of this year. With the functions of auxiliary driving and automatic driving becoming the focus of competition among new energy vehicle brands, the number of on-board cameras is increasing, The configuration demand of lidar is also increasing. According to yole’s statistics and prediction, the global shipment of lidar will be 340000 units in 2020, and it is expected to rise to 4.7 million units by 2025, with a considerable growth rate. From the current trend, 2022-2023 is expected to become the starting point for the gradual popularization of lidar. It is suggested to focus on the breakthrough It is expected to benefit from relevant supply chains and targets of lidar outbreak in the future, such as Sihui Fuji Electronics Technology Co.Ltd(300852) , Bomin Electronics Co.Ltd(603936) and Shenzhen Xunjiexing Technology Corp.Ltd(688655) .
On the consumer electronics side, although there are still differences on the launch time of Apple’s first Mr product, on the overall trend, one of the biggest constraints of AR / VR / MR is the lack of hardware user experience. In view of Apple’s past successful experience in improving the hardware experience of intelligent products, the market has good expectations for the shipment of Apple’s first Mr product. In addition, Apple is expected to launch 5g version of iphonese products at the end of the first quarter, review the driving effect of the launch of iphonese products in 2018 on the profitability of upstream core suppliers of heavy assets in the first half of the year, and be optimistic about the performance of fruit chain target in 2022.
Industry focus: it is understood that on the afternoon of December 29, Dbg Technology Co.Ltd(300735) Xiaomi’s offline ceremony of 20 million smartphones was grandly held in the third intelligent industrial park. Xiaomi project was introduced in November 2020, and 20 million smartphones have been offline so far. The company expects to ship 100 million units in 2022, reaching a record high.
According to the Research Report of Susquehanna financial group, the time from placing an order to obtaining delivery of semiconductors has been extended to about 25.8 weeks in December last year, an increase of six days over November, and the longest record since tracking data began in 2017.
According to jiwei.com, the American Semiconductor Industry Association (SIA) announced on the 3rd local time that the global semiconductor industry sales in November 2021 were US $49.7 billion, with a year-on-year and month on month growth of 23.5% and 1.5% respectively. The cumulative sales in November 2021 reached US $1.05 trillion, a record high.
Key stocks and logic recommended this week: the targets of our key stock pool include: Zhuhai Cosmx Battery Co.Ltd(688772) , Suzhou Chunqiu Electronic Technology Co.Ltd(603890) , Shenzhen Desay Battery Technology Co.Ltd(000049) , Lens Technology Co.Ltd(300433) , Wingtech Technology Co.Ltd(600745) , Ningbo Kangqiang Electronics Co.Ltd(002119) , Tdg Holding Co.Ltd(600330) , Sunwoda Electronic Co.Ltd(300207) , Shenzhen Fastprint Circuit Tech Co.Ltd(002436) , Dbg Technology Co.Ltd(300735) , Bomin Electronics Co.Ltd(603936) , Bozhon Precision Industry Technology Co.Ltd(688097) , Sihui Fuji Electronics Technology Co.Ltd(300852) .
Risk tips: (1) systemic risk caused by the unexpected decline of the market; (2) Focus on the uncertainty risk of promoting relevant matters of the company.
