Sichuan caizhou viewpoint
This week, the electronics industry continued to maintain an upward trend, led by semiconductor equipment, semiconductor materials, discrete devices and other sectors. Recently, the process of resumption of work and production in Shanghai and other regions has accelerated, the market’s expectation of the recovery of the electronics industry has continued to increase, and the semiconductor, automotive electronics and other industries are expected to usher in an accelerated recovery. Since the end of 2021, semiconductor and other electronic sectors have experienced a significant correction, and adverse factors such as rising costs and low market have been digested and reflected by the market. With the gradual improvement of the epidemic, it is expected that relevant sectors will continue to recover in the future.
Market performance in one week
This week, Shenwan electronics industry rose 4.38%, the Shanghai stock index rose 2.02%, and the Shanghai and Shenzhen 300 index rose 2.23%. Among the sub sectors, the semiconductor equipment sector rose 6.90%, the semiconductor material sector rose 5.99%, and the discrete device sector rose 5.94%. In the P / E ratio of sub sectors, the valuation level of panel, integrated circuit sealing test and other electronic sectors is relatively low, which are 11.75, 16.69 and 18.80 times respectively; The valuation levels of semiconductor equipment, led and semiconductor materials are relatively high, 97.11, 62.36 and 55.98 times respectively.
Industry dynamics
On May 16, China Academy of communications and communications released the “analysis report on the operation of China’s mobile phone market in March 2022”. The report shows that in March 2022, the shipment of mobile phones in the Chinese market was 21.46 million, a year-on-year decrease of 40.5%. (Flying Elephant network) on May 17, the National Bureau of statistics released the monthly data of industrial production above Designated Size from January to April. According to the data, 25.9 billion pieces of integrated circuits were produced in April, a year-on-year decrease of 12.1%; From January to April, the cumulative output was 107.4 billion yuan, a year-on-year decrease of 5.4%. (international e-commerce information)
China shipped 46.8 million display panels in the first quarter of 2022, with a year-on-year increase of 17.2%. In the continuous expansion of production capacity, we should still be vigilant against internal competition and avoid internal friction. According to the data disclosed by the semiconductor industry association (SIA), the global semiconductor sales reached US $50.6 billion in March, an increase of 1.1% month on month. In the first quarter of 2022, sales totaled US $151.7 billion, a slight decrease of 0.5% month on month, but a year-on-year increase of 23%. (199it Internet Data Center)
Recently, the sales data tracking report of Chinese mobile phone models released by counterpoint research shows that the market share of medium and high-end smart phones (about 17 Xinjiang Haoyuan Natural Gas Co.Ltd(002700) yuan according to the price statistics of wholesalers) increased by nearly 10% year-on-year in Q1 2022, accounting for 25.5% of the total quarterly sales, a significant increase from 16.9% two years ago. (World Wide Web)
According to the data of China Automobile Association, the sales volume of Shanxi Guoxin Energy Corporation Limited(600617) vehicles in mid April was about 299000, a month on month decrease of 38.3% and a year-on-year increase of 44.6%. Affected by factors such as blocked logistics and transportation, the export of new energy vehicles in April was about 11000, accounting for 7.8% of the total export, with a year-on-year decrease of 53.7%. (Daily Economic News)
Company announcement
Unilumin Group Co.Ltd(300232) : the company released the report of trans lux Corporation, an overseas listed subsidiary, in the first quarter of 2022, achieving an operating revenue of US $3665000, a year-on-year increase of 41.72%, a net profit of US $493000, and turning losses into profits.
Wal Mart has announced the establishment of four companies with 100% equity of Wal Mart and Wal Mart, and has completed the registration procedures of four new companies with 100% equity of Wal Mart and Wal Mart.
Guangdong Green Precision Components Co.Ltd(300968) : issue a cash management announcement, and use some idle raised funds of no more than RMB 300 million (including this amount) and self owned funds of no more than RMB 300 million (including this amount) for cash management, so as to purchase investment products with high safety, low risk and good liquidity.
Sungrow Power Supply Co.Ltd(300274) : a capital reduction announcement will be issued, and the company will repurchase and cancel all restricted shares granted to the above-mentioned personnel but not unlocked, with a repurchase amount of 25000 shares. The repurchase and cancellation of some restricted shares by the company will involve the reduction of registered capital.
Saic Motor Corporation Limited(600104) : it was announced that on May 19, 2022, the company successfully bid for 71.04% of the shares of Shanghai Dongzheng Auto Finance Co., Ltd. at the price of 160681297000 yuan.
Risk tips: the epidemic has a wide impact, the upward pressure of inflation continues, scientific and technological innovation is less than expected, and market competition intensifies
