Sichuan caizhou viewpoint
Last week, the electronics industry maintained a downward trend, and the segments continued to decline. Inflation, epidemic, supply chain instability and other factors continue to affect, and the performance of the electronic sector is weaker than the market. The demand for consumer electronics such as PC / mobile phones has declined, and the cost and supply of the new energy vehicle industry chain are under great pressure. It is difficult for wafer foundry to open a large number of new production capacity in the short term, and many areas of the electronics industry are under pressure. However, the instability of the downstream vertical industry market has not been fully transmitted to the upstream equipment, materials and other fields. The domestic substitution attribute of semiconductor equipment, materials and other links is still strong, and the order demand remains strong. However, the overall electronics industry is still facing great downward pressure, and the signs of inflection point need to be continuously tracked.
Market performance in one week
Last week, Shenwan electronics industry fell 4.28%, the Shanghai stock index fell 3.87%, and the Shanghai and Shenzhen 300 index fell 4.19%. Among the sub sectors, the electronic chemicals III sector fell 7.83%, and the digital chip design sector fell 7.39%. In terms of individual stocks, the top three companies in the electronics industry are: Harbin Viti Electronics Corp(603023) ( Harbin Viti Electronics Corp(603023) . Sh, 13.46%), Shenzhen Soling Industrial Co.Ltd(002766) ( Shenzhen Soling Industrial Co.Ltd(002766) . SZ, 11.25%), Jiangsu Boxin Investing & Holdings Co.Ltd(600083) ( Jiangsu Boxin Investing & Holdings Co.Ltd(600083) . Sh, 10.45%); The companies with the first three weeks of decline are: Ningbo Sunlight Electrical Appliance Co.Ltd(002473) ( Ningbo Sunlight Electrical Appliance Co.Ltd(002473) . SZ, – 22.52%), China Chippacking Technology Co.Ltd(688216) ( China Chippacking Technology Co.Ltd(688216) . Sh, – 20.26%), Allwinnertech Technology Co.Ltd(300458) ( Allwinnertech Technology Co.Ltd(300458) . SZ, – 19.42%).
Industry dynamics
According to the report released by the China Academy of communications and communications, the output of integrated circuits decreased in the first quarter. In March, the output reached 28.5 billion pieces, a year-on-year decrease of 5.1%. In the first quarter, the cumulative output reached 80.7 billion pieces, a year-on-year decrease of 4.2%. The Quarterly cumulative output fell for the first time since the second half of 2019. (set microgrid)
On April 19, statistics from the Ministry of industry and information technology showed that 10.33 million Chinese Shanxi Guoxin Energy Corporation Limited(600617) vehicles had been promoted, and the cumulative production and sales of new energy vehicles in the first quarter reached 1.293 million and 1.257 million respectively, an increase of 1.4 times year-on-year. The market penetration rate reached 19.3%, with a year-on-year increase of 11.4 percentage points. (Sohu)
Icinsights reported that the capacity of the integrated circuit industry is expected to increase by 8.7% this year. The largest capacity growth is expected to come from the large new memory plants of SK Hynix and Huabang electronics, as well as the three new plants of TSMC. (Sina Finance)
Canalys data show that affected by the poor economic situation and seasonal demand downturn, Samsung leads the market with 24% market share and apple ranks second with 18% market share. With the excellent performance of red rice Note Series, Xiaomi ranks third with 13% market share. Oppo (including oneplus) and vivo ranked in the top five with a share of 10% and 8% respectively. (World Wide Web)
The cinnorresearch report shows that the demand in the European market has declined. Samsung and LG, the world’s top two LCD TV brands, have reduced the orders of panel manufacturers, especially large-size LCD TV panels, making the decline of large-size panels more than expected. ( Hithink Royalflush Information Network Co.Ltd(300033) finance and Economics)
The counterpoint research smartphone parts tracking report shows that with the narrowing of the supply and demand gap of most parts, the global shortage of semiconductor chips may continue to be alleviated in the second half of 2022. (Financial Associated Press)
Company announcement
Unigroup Guoxin Microelectronics Co.Ltd(002049) : according to the annual report of the company, the operating revenue in 2021 was 5.342 billion yuan, a year-on-year increase of 63.35%; The net profit attributable to shareholders of listed companies was 1.954 billion yuan, a year-on-year increase of 142.28%. Tesla: first quarter revenue of $18.8 billion, net profit of $3.318 billion. Musk said that it is expected to produce 1.5 million cars in 2022, and the prices of some auto parts will increase by 20% – 30% year-on-year.
Contemporary Amperex Technology Co.Limited(300750) : the company disclosed its annual report and realized a net profit of 15.931 billion yuan in 2021, with a year-on-year increase of 185.34%. On the same day, it was announced that it was planned to invest no more than 13 billion yuan in the construction of new energy battery industry base project.
Shengmei semiconductor equipment (Shanghai): the company announced that the 18 cavity 300mm ultracvi single crystal round cleaning equipment has been successfully put into mass production. The device was first launched in the second quarter of 2020. At present, it has been verified on the production line of a mainstream memory chip manufacturer in China and entered mass production.
Yunnan Energy New Material Co.Ltd(002812) : in the first quarter of 2022, the operating revenue was 2.592 billion yuan, with a year-on-year increase of 79.62%; The net profit was 916 million yuan, a year-on-year increase of 111.92%.
Xiamen Faratronic Co.Ltd(600563) : the company achieved a revenue of 840 million yuan in the first quarter, with a year-on-year increase of 44.7% and a month on month increase of 6.4%, benefiting from the high demand for downstream new energy vehicles and new energy power generation, and the single quarter revenue reached a record high.
Risk warning: the impact of epidemic spread exceeded expectations; The impact of global inflation exceeded expectations; The upstream raw material price fluctuates more than expected.
