电子行业周报：4月全球大尺寸显示面板出货量下降

Investment Rating - The electronic industry is rated as showing signs of weak recovery from the demand bottom, with a focus on upstream equipment materials that are relatively independent of the industry cycle [2][7]. Core Insights - In April 2024, global shipments of large-sized display panels decreased significantly, with TV panels down 6.9%, monitor panels down 3.6%, notebook panels down 14.6%, and tablet panels down 9.8% [1][11]. - The price of 3nm process chips has increased by 25% compared to the previous generation, with Qualcomm's Snapdragon 8 Gen4 leading the price hike, expected to exceed $250 [1][14]. - The electronic industry outperformed the broader market, with the Shenwan electronic index rising by 3.86$46.43 billion, a year-on-year increase of 15.8% [7][15]. - The semiconductor equipment sector also saw growth, with Japan's semiconductor equipment shipments increasing by 15.75% year-on-year in April [7][15]. Summary by Sections Market Trends - The electronic industry has shown strong performance compared to the broader market indices, with significant increases in various sub-sectors [3][6]. - The demand for large-sized display panels has decreased, but there is a strategy of early procurement to mitigate costs [11][12]. Industry Dynamics - The semiconductor industry is experiencing a gradual recovery, driven by low inventory levels and improving economic conditions [7][15]. - The anticipated increase in DRAM contract prices by 13-18% in Q2 2024 is expected due to various market factors [15]. Company Developments - DiAo Microelectronics plans to reduce its holdings by 2,522,000 shares due to funding needs [16].