The electronics industry index rose and fell this week: as of April 15, 2022, Shenwan electronics industry fell 4.20% this week, 3.21 percentage points lower than the Shanghai and Shenzhen 300 index, ranking 21st among the 31 Shenwan industries; Shenwan electronics sector fell by 8.63% in April 2022, underperforming the CSI 300 index by 7.83 percentage points; Shenwan electronics sector fell 31.90% in 2022, 16.68 percentage points lower than the CSI 300 index.
The secondary sub sectors of the electronics industry rose and fell this week: as of April 15, 2022, the six secondary sub sectors of Shenwan electronics fell in an all-round way this week, from high to low: SW other electronics (- 6.31%), SW electronic chemicals (- 4.97%), SW optical Optoelectronics (- 4.21%), SW consumer electronics (- 4.18%), SW semiconductor (- 4.07%) and SW components (- 3.69%).
Some news and company dynamics this week: (1) TSMC: the demand for consumer electronics terminals such as smart phones and PCs is indeed weak; (2) The decline of large-size TV panels exceeded expectations, and the decline of panels may last until June; (3) TSMC’s net profit in the first quarter was NT $202.7 billion, with an estimated NT $186.06 billion; (4) Apple is preparing to launch several MAC computers equipped with M2 chip; (5) The agency estimates that the global monthly capacity of 8-inch wafer factories will increase to 6.9 million in 2024; (6) Suntak Technology Co.Ltd(002815) : the net profit in 2021 increased by 25.7% year-on-year, and it is proposed to pay 3.1 yuan for 10; (7) Gigadevice Semiconductor (Beijing) Inc(603986) : the net profit in the first quarter increased by about 126.12% year-on-year; (8) Zhejiang Jiemei Electronic And Technology Co.Ltd(002859) : it is proposed to invest 2 billion yuan in the construction of special paper tape and plastic tape for thin packaging of electronic components; (9) Zhejiang East Crystal Electronic Co.Ltd(002199) : the net profit in 2021 was 309385 million yuan, with a year-on-year increase of 287.92%; (10) Shanghai Fullhan Microelectronics Co.Ltd(300613) : the net profit in 2021 increased by 315.01% year-on-year, and 3.1 yuan is proposed to be transferred from 10 to 9; (11) Naura Technology Group Co.Ltd(002371) : the net profit in the first quarter is expected to increase by 170% – 200% year-on-year; (12) Naura Technology Group Co.Ltd(002371) : the net profit in the first quarter is expected to increase by 170% – 200% year-on-year; (13) Shennan Circuits Co.Ltd(002916) : the net profit in the first quarter was 348 million yuan, with a year-on-year increase of 42.83%.
Weekly view of the electronics industry: the prosperity of the global electronics industry is divided. On the one hand, the prosperity of notebook computers, LCD panels, driver ICs and other sub sectors benefiting from the epidemic has fallen, and the demand for mobile phones / PCS and security has slowed down; On the other hand, the domestic alternative main line represented by semiconductor equipment and materials has maintained a high boom, while automotive electronics and AR / VR have become the main driving forces of industry innovation. It is suggested to grasp the high-profile subdivisions of the electronics industry and pay attention to Goertek Inc(002241) Goertek Inc(002241) , Wuhu Token Sciences Co.Ltd(300088) Wuhu Token Sciences Co.Ltd(300088) , Wuxi Nce Power Co.Ltd(605111) Wuxi Nce Power Co.Ltd(605111) , Naura Technology Group Co.Ltd(002371) Naura Technology Group Co.Ltd(002371) , Starpower Semiconductor Ltd(603290) Starpower Semiconductor Ltd(603290) , Gigadevice Semiconductor (Beijing) Inc(603986) Gigadevice Semiconductor (Beijing) Inc(603986) and Sanan Optoelectronics Co.Ltd(600703) Sanan Optoelectronics Co.Ltd(600703) .
Risk tip: the downstream demand is not as expected, the domestic substitution is not as expected, and the innovation of the industry slows down.
