Weekly report of electronic components industry: the demand side gradually bottoms out MINI LED leads the innovation trend

Time:

2022-12-02 17:20

TCL released a new Mini LED product, and the Mini LED industry entered a rapid growth period: On May 16, TCL officially released a new Mini LED TV Q10G, which achieved high-end standards in terms of definition, color, brightness, contrast, and refresh rate. The Q10G series offers 55, 65, 75 and 85 inches at a price of 5999/7999/9999/14999 yuan, and the initial launch is only 4499/6499/8499/12999 yuan.
Q10G series Mini LED TV adopts 240 partition backlight for 55 inches, 288 partition backlight for 65 inches, 360 partition backlight for 75 inches, and 448 partition backlight for 85 inches. With the acceleration of commercialization of Mini LED, major manufacturers have launched Mini LED products, which has led to the continuous maturity of the Mini LED industry chain.
TSMC's revenue in April hit a record high, and its wafer foundry style is expected to continue: TSMC's consolidated revenue in April 2022 was about NT $172.561 billion, up 55.0% year-on-year and 0.3% month on month, hitting a new record high in a single month. TSMC expects Q2 revenue of $17.6 billion to $18.2 billion, gross profit margin of 56% to 58%, and annual revenue growth of 25% to 29%. Affected by the epidemic, the demand for consumer electronics represented by mobile phones, PCs and televisions is weak, but the demand for automotive electronics, HPC, the Internet of Things and other products is still strong. Driven by the strong demand for 5G, HPC and automotive chips, TSMC's wafer foundry capacity will be tight throughout the year. With the overall increase in wafer foundry prices this year, the wafer foundry landscape is expected to continue.
The macro environment superimposed the impact of epidemic situation, and the domestic mobile phone market kept bottoming out: according to the data of the China Academy of Information and Communication, 21.46 million mobile phones were shipped in the domestic market in March 2022, a year-on-year decrease of 40.5%. Among them, there were 16.185 million 5G mobile phones, down 41.1% year on year, accounting for 75.4% of mobile phone shipments in the same period. From January to March 2022, the total mobile phone shipments in the domestic market totaled 69.346 million, a year-on-year decrease of 29.2%, including 53.884 million 5G mobile phones, a year-on-year decrease of 22.9%, accounting for 77.7% of the mobile phone shipments in the same period. Under the influence of epidemic situation, Russia Ukraine conflict, inflation, seasonality and other factors, the domestic mobile phone market has been constantly bottoming out.
Investment suggestion: power semiconductor: the demand for downstream new energy vehicles, photovoltaic and other fields is soaring, so it is recommended to focus on Wentai Technology and China Resources Micro; Semiconductor materials: The expansion of the wafer factory drives the continuous expansion of the demand for silicon chips, and the localization rate is accelerating. It is recommended to focus on the Lion Micro and Shanghai silicon industries; MCU: Domestic leading manufacturers have achieved steady growth in performance through high-end products and market share improvement. It is recommended to focus on Zhongying Electronics, Zhaoyi Innovation, etc; LED: Ultra high definition display and backlight dual drive. The MiniLED industry chain continues to make efforts. It is suggested to focus on Hongli Zhihui, San'an Optoelectronics, Huacan Optoelectronics, Qianzhao Optoelectronics, Jufei Optoelectronics, Lehman Optoelectronics, Vogel Optoelectronics, New Yichang, Ruifeng Optoelectronics, etc.

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