Index
On April 26, 2022, the Shanghai Composite Index closed at 288643 points, down 1.44%; The Shenzhen composite index closed at 1020664 points, down 1.66%. The consumer electronics index closed at 435923 points, down 2.28%; The semiconductor index closed at 388563 points, down 2.79%; The display panel index closed at 173706 points, down 1.87%. The companies with the top three gains and losses in the constituent stocks of the consumer electronics index are: Zhejiang Tony Electronic Co.Ltd(603595) ( Zhejiang Tony Electronic Co.Ltd(603595) , 10.01%), Anhui Shiny Electronic Technology Company Limited(300956) ( Anhui Shiny Electronic Technology Company Limited(300956) , 1.80%), Risuntek Inc(002981) ( Risuntek Inc(002981) , – 0.53%); The companies with the top three gains and losses of semiconductor index component 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%).
Comments
At present, in the electronic industry, the field of consumer electronics is one of the areas under pressure. In the past decade, the consumer electronic products represented by smart phones have gradually entered the bottleneck of substantive innovation, and their overall attraction to end consumers has become weaker and weaker. At the same time, the conflict between Russia and Ukraine has led to the rise of global inflation pressure and the decline of consumers’ willingness to purchase non daily necessities (including consumer electronics), further putting pressure on shipment demand. Moreover, as the world’s pivotal consumer electronics industry base and sales market, China has encountered multidimensional development obstacles such as product production, logistics and transportation and low market confidence in the current epidemic control in many places, and its contribution to global industrial growth has weakened periodically. The above three factors make consumer electronics particularly under pressure, but we are optimistic about the market recovery after the subsequent macro negative variables are relieved.
Industry dynamics
Recently, the raw materials (photoresist, etc.) supplied to BOE, Xinsheng optoelectronics, Visionox Technology Inc(002387) , Huahong group and other key enterprises have been successively delivered to the demand manufacturers through route arrangement under the coordination of relevant ministries and commissions in Hefei and Shanghai. At present, there are still many strict control measures for the supply of nucleic acid in the Yangtze River Delta, resulting in some serious obstacles for the prevention and control of the epidemic in Shanghai. In order to take into account the epidemic prevention and control and the production of key enterprises, the relevant route supply guarantee measures in Hefei, Shanghai and other places have effectively ensured the relative stability of production in China’s important scientific and technological manufacturing fields. Display panels and wafer foundry are important upstream supply sources for various terminal technology applications, which is of great significance to the development of China’s modern society. It is expected that as the epidemic situation is gradually alleviated, the relevant supply will become more and more smooth, and the market demand will gradually recover. (Hefei Bureau of Commerce, China civil aviation network, Netease News)
Risk tip: the impact of epidemic spread exceeded expectations, the progress of market recovery was less than expected, and the impact of inflation exceeded expectations.
