Industry Investment Rating - The report does not explicitly mention an overall industry investment rating [1][2][3] Core Views - The electronic industry is experiencing a weak recovery at the bottom, with a focus on upstream equipment materials that are relatively independent of the industry cycle due to domestic substitution logic [6] - Android smartphone component manufacturers are expected to benefit as inventory levels gradually return to normal [6] - Semiconductor design companies are likely to benefit from downstream inventory replenishment [6] Market Performance - The Shanghai Composite Index fell by 0.91% and the CSI 300 Index fell by 1.41% during the week of June 6-12 [3] - The electronic industry outperformed the broader market, with the Shenwan Primary Electronic Index rising by 2.43%, outperforming the Shanghai Composite Index by 3.34 percentage points and the CSI 300 Index by 3.84 percentage points [3] - The PE valuation of the electronic industry rose to around 61.80 times [3] Industry Data - Global smartphone shipments in Q1 2024 reached 289 million units, a year-on-year increase of 7.74% [5] - China's smartphone shipments in April 2024 were 22.66 million units, a year-on-year increase of 25.5% [6] - Global semiconductor sales in April 2024 were 35.8 billion [11] - MediaTek's May 2024 revenue increased by 33.53% year-on-year to NT229.62 billion [13] Company Developments - Rongda Photosensitive announced a private placement to raise up to 245 million yuan for the expansion of high-end photosensitive circuit dry film photoresist production [14] Key Players in European Smartphone Market - Samsung led the European smartphone market in Q1 2024 with a 37% market share, followed by Apple with 22%, Xiaomi with 16%, Motorola with 6%, and Honor with 3% [10]
电子行业周报：一季度欧洲手机出货量恢复正增长
中山证券·2024-06-17 05:30