Core view of this week: the electronics industry index fell by 1.27% this week. Among the 350 targets, after deducting the suspension targets, 145 targets rose throughout the week, 68 targets rose by more than 3 points per week, 42 targets rose by more than 5 points per week, 18 targets rose by more than 10 points per week, 265 targets fell throughout the week and 200 targets fell by more than 3 points per week, 91 fell more than 3 points a week and 41 fell more than 5 points a week.
This week, the electronics sector has stabilized. Since the second half of 2021, investors have been worried that the demand of the electronics industry will gradually enter the downward stage when the global epidemic is alleviated. However, at the TSMC earnings interpretation meeting on January 13, the CEO announced that the capital budget in 2022 is as high as $40-44 billion, which shows that the industry’s demand for the electronics industry in 2022 is not declining, As we have always emphasized in our weekly reports in the past, many emerging fields such as automotive electronics, Mr, folding screen and mini LED are expected to enter a high-speed growth stage in 2022. The demand for upstream parts will be clearly driven, and the “optimistic” rating of the industry will continue to be maintained.
On Friday, the performance of most automotive electronics related targets was quite strong. After Tesla successfully cultivated the user aesthetics and driving experience of new energy vehicles and the mass production and delivery capacity of upstream suppliers, the rise of new forces of domestic car manufacturing and the transformation of traditional car enterprises have greatly promoted the penetration of new energy vehicles, The sense of science and technology and silicon content of automobile are ushering in the starting point of rapid growth. The trend of automobile electrification and intelligence has become more clear, especially in terms of automobile intelligence. The final landing of scenes such as automatic driving and intelligent cockpit will bring clear increment to chips, electronic components and related upstream raw materials. It is suggested to focus on Lens Technology Co.Ltd(300433) , Suzhou Chunqiu Electronic Technology Co.Ltd(603890) , Bomin Electronics Co.Ltd(603936) , Sihui Fuji Electronics Technology Co.Ltd(300852) Wingtech Technology Co.Ltd(600745) , Will Semiconductor Co.Ltd.Shanghai(603501) and other subjects.
From the recent industrial chain research, the price of raw materials upstream of PCB has been loosened since November 2021. Of course, most PCB enterprises still need about a month to digest the high price inventory, which also means that from the first quarter of this year, in the field with clear demand support, relevant PCB companies are expected to usher in the quarterly profitability repair trend, Superimposed on the revenue growth brought by capacity expansion, the performance growth of such PCB companies will be considerable, so it is recommended to focus on it.
Industry focus: according to jiwei.com, Tencent plans to acquire game phone company Black Shark technology. After the acquisition, black shark will be integrated into the platform and content business group of Tencent group led by Ren Yuxin, and is committed to developing virtual reality hardware.
NH Investment & securities, a Korean securities company, reported that the continuous blockade of Xi’an, China and the ASML Berlin plant fire affected semiconductor production. These events are beneficial to the supply and demand of memory chips, but unfavorable to the supply of logic chips.
TSMC held an online legal person briefing and released the fourth quarter financial report of fiscal year 2021 as of December 31. According to the financial report, TSMC’s consolidated revenue in the fourth quarter was 438.189 billion yuan (New Taiwan dollars, the same below) (about US $15.846 billion), an increase of 21.2% over 361.533 billion yuan in the same period last year, a record for the sixth consecutive quarter; The net profit was 166.232 billion yuan (about US $6.011 billion), an increase of 16.4% over 142.766 billion yuan in the same period last year.
Key stocks and logic recommended this week: the targets of our key stock pool include: Zhuhai Cosmx Battery Co.Ltd(688772) , Suzhou Chunqiu Electronic Technology Co.Ltd(603890) , Shenzhen Desay Battery Technology Co.Ltd(000049) , Lens Technology Co.Ltd(300433) , Wingtech Technology Co.Ltd(600745) , Ningbo Kangqiang Electronics Co.Ltd(002119) , Tdg Holding Co.Ltd(600330) , Sunwoda Electronic Co.Ltd(300207) , Shenzhen Fastprint Circuit Tech Co.Ltd(002436) , Dbg Technology Co.Ltd(300735) , Bomin Electronics Co.Ltd(603936) , Bozhon Precision Industry Technology Co.Ltd(688097) , Sihui Fuji Electronics Technology Co.Ltd(300852) .
Risk tips: (1) systemic risk caused by the unexpected decline of the market; (2) Focus on the uncertainty risk of promoting relevant matters of the company.
