Electronics Industry Weekly: CES is about to open, focusing on the future development trend of the technology industry

来源:Dongguan Yanghan Industrial Co., Ltd.  时间:2020-09-09

View this week: The ChiNext Index and the Electronic Index performed brilliantly, rising 4.52% and 3.85% respectively, while the Shanghai and Shenzhen 300 Index fell during the same period 0.55%, the polarization trend is obvious. We are firmly optimistic that the two main lines Apple and the LED industry chain will become the leading sub-sectors. We continue to be optimistic about major investment opportunities in Apple's industrial chain, LED, and chip localization.

First of all, we need to think about why emerging industries continue to rise at the beginning of the new year under the background of the market malaise. This shows that The market has further strengthened its confidence in the future investment prospects of emerging industries, and the demand for adjusting positions cannot wait. From a fundamental point of view, compared with media and software, the growth of electronics is clear, and the valuation is low. There are a large number of high-quality companies with strong international competitiveness and expected to grow into international giants. The growth paths of leading companies in sub-industry such as Sanan Optoelectronics, Luxshare Precision, and Desai Battery in the next few years are very clear, and they may continue to exceed expectations. The investment value is significant, which will naturally trigger the market's pursuit.

Secondly, on the question of what to buy, we believe that the main line of investment need not be shaken. In 14 years, the main lines of electronics are the localization of Apple chain, leds, and chips, and the market will basically revolve around these main lines. First of all, the rise of Apple again has become a reality. Judging from the innovation intensity of the technology industry giants, Apple is still the company that leads the development of the electronics industry. According to the news revealed by the media, Samsung's next-generation flagship s5 lacks bright spots, and the bigger innovation is to follow Apple to join the fingerprint recognition function. We believe that it is a high probability event that Apple regained the market share seized by Samsung in high-end smartphones. According to a report from the technology website Phone Arena, a number of Foxconn insiders recently revealed that Apple will release two new iPhone models this year, one of which is equipped with a 4.7-inch screen, and the other uses a 5.7-inch giant screen. In addition, these two new iPhones will also add a "secret" biometric technology, which means that they may continue to use the fingerprint scanner of the iPhone 5s, or will use a new eye scanning technology. In addition, Apple will release iWatch, leading the wearable market. In the Internet era, Apple will continue to dominate in the era of big data by virtue of its platform advantages and a three-in-one architecture of "soft, hard, and Internet". The Led lighting era is coming soon. From a global perspective, the penetration rate of LED lighting has entered the rapidly increasing Huangjin area. The rapid decline in prices has reached the sweet spot and the continuous introduction of support policies from various countries have promoted the rapid growth of the global LED market. LEDinside predicts that the output value of LED lighting in 2014 will reach 17.8 billion U.S. dollars, and the overall LED lighting product shipments will reach 1.32 billion, an increase of 68% from 2013 The LED industry is entering a period of rapid growth. From the perspective of investment logic, the upstream chip industry entering the long-term business cycle is more flexible. Although Sanan Optoelectronics has risen sharply, we believe that its long-term development logic is clear, and the mid- and downstream expansion and wide bandgap semiconductors are expected to bring new opportunities. Growth momentum, maintain the "strongly recommended" rating. In addition, through communication with mid- and downstream packaging companies, the quality of BDO Runda and Huacan Optoelectronics chips has been improved, and investment opportunities are also worthy of attention. We believe that the future of led chips will inevitably be an oligopoly. In addition to Sanan, who will stand out in the chip field is an important issue worthy of attention in the led industry in 14 years. Downstream application manufacturers that have high-quality channel resources and benefit from the heavy lighting market are also good investment targets in the led industry. We continue to recommend Sunlight Lighting, which has a double inflection point in its performance and valuation in 2014. The company currently has ample orders and production capacity is in short supply. We do not rule out that it will cut into new major customers such as Wal-Mart in the future. We understand that the company is no longer satisfied with just being a OEM base for major foreign brands. In the future, it will vigorously expand its own channels and brand building, and the demand for mergers and acquisitions is strong. After the company accrued the impairment losses of its Indian subsidiary this year, Ming Young has entered the battlefield, and its performance is more flexible. The 14LED business income is expected to far exceed expectations, and investment opportunities deserve high attention. In addition, we investigated Foshan Lighting this week. The company's LED revenue accounted for a rapid increase, the channel is high-quality, and the future flexibility is greater, which is also worthy of attention.

CE is about to begin, and it will become the major event in the electronics industry that everyone will pay most attention to next week. From January 7th to the 10th, CES will attract more than 150,000 visitors, and 3,200 manufacturers from around the world across 15 categories will bring the latest consumer technology products. Including large technology companies like Microsoft and Samsung, as well as little-known small innovative companies. This year's ces products will be extremely rich, wearable smart equipment, smart homes, transforming PCs, curved screen smart phones and TVs, smart cars, etc. are expected to become the focus. Wearable smart equipment should be expected by everyone. The most concerned should be Google Glass; smart watches, such as Pebble, Qualcomm's Toq or Samsung's Galaxy Gear; and smart devices such as FitBit and Jawbone that encourage healthy living. Accessories have gradually penetrated the market. But at CES this year, more manufacturers will join the battle. The three major mobile manufacturers of Google, Apple and Microsoft have yet to disclose their own smartwatch designs. Since Apple applied for a patent for the curved screen, this situation may change. At the same time, it is rumored that Sony may also release the next generation of smart watches at this year's CES. The biggest obstacle to smart watches is that there is currently no product that allows users to make full use of the functions of smart phones on their wrists. There is no doubt that smart watches still have a lot of room for development, and there is no doubt that CES 2014 should show some forward-looking products. We believe that the "smart home" industry chain is worthy of investors' attention. Smart home has penetrated from traditional home appliances to door locks, lighting, and other home furnishing fields, laying the foundation for building a smart home Internet of Things in the future. We believe that 2014 will be the first year of the outbreak of smart homes, and related thematic markets have not yet been fully explored. It is recommended to pay attention to companies such as Hejing Technology, Heertai, and Neusoft Carrier.