Index
On April 25, 2022, the Shanghai Composite Index closed at 292851 points, down 5.13%; The Shenzhen composite index closed at 1037928 points, down 6.08%. The semiconductor index closed at 399706 points, down 7.60%; The automotive electronics index closed at 205322 points, down 8.17%; The integrated circuit index closed at 131051, down 7.02%. The companies with the top three gains and losses of Semiconductor Index constituent stocks are: Shanghai Fullhan Microelectronics Co.Ltd(300613) ( Shanghai Fullhan Microelectronics Co.Ltd(300613) , 0.87%), Unigroup Guoxin Microelectronics Co.Ltd(002049) ( Unigroup Guoxin Microelectronics Co.Ltd(002049) , 0.60%), Tianshui Huatian Technology Co.Ltd(002185) ( Tianshui Huatian Technology Co.Ltd(002185) , – 0.43%); The companies with the top three gains in the component stocks of the automotive electronics index are: Shanghai Shenda Co.Ltd(600626) ( Shanghai Shenda Co.Ltd(600626) , 10.11%), Yachuang Electronics (301099, 7.48%), and Lens Technology Co.Ltd(300433) ( Lens Technology Co.Ltd(300433) , 6.67%).
Comments
Recently, the first batch of enterprises in key industries such as science and technology manufacturing in Shanghai have successively resumed work and production, including leading companies in related fields such as new energy vehicles and semiconductor manufacturing. The development of these enterprises is a wind vane for the growth trend of China’s emerging science and technology industries. Their resumption of work and production reflects that relevant industries are gradually getting rid of the impact of the epidemic and changing to a positive direction such as ensuring smooth supply and logistics. Recently, the market has fallen significantly affected by the spread of the epidemic in many places, which provides more and more obvious investment opportunities for leading companies with high-quality assets and high certainty of industry expansion in the medium and long term.
Industry dynamics
According to Japan’s Kyodo news agency, the Japanese advanced semiconductor manufacturing company (jasm), a wafer factory set up by TSMC in Kumamoto Prefecture, Japan, will begin construction this week. The fab is jointly invested by TSMC, Sony, Denso Co., Ltd. and the Japanese government, with an investment amount of US $8.6 billion. The Japanese government holds about 50% of the shares, hoping to enhance its voice in key industries such as semiconductor manufacturing. At present, the global industrial chain is facing great instability due to factors such as epidemic, inflation and regional conflicts. However, the era theme of big country competition gives special significance to the independent control of key industrial links such as semiconductor manufacturing, and the importance of domestic substitution of semiconductors is becoming more and more prominent. (Kyodo)
Risk tip: the impact of epidemic spread exceeded expectations, the progress of industrial recovery was less than expected, and the impact of inflation exceeded expectations.
