TMT行业周报（1月第3周）：建议关注国内半导体自主可控产业链

Investment Rating - The report suggests focusing on the domestic semiconductor self-controllable industry chain [4]. Core Viewpoints - The report highlights the increasing importance of domestic substitution in the semiconductor industry due to intensified U.S. sanctions against China, particularly in AI chips, smart driving, and advanced process chip foundry [4]. - TSMC's optimistic outlook on AI-related revenue growth, projecting a 45% CAGR over the next five years, is expected to alleviate market concerns regarding the sustainability of AI growth [4]. Weekly Market Review - The TMT sector outperformed the CSI 300 index, with notable weekly gains in sub-sectors such as marketing agency (13.17%), analog chip design (10.26%), and communication network equipment (8.70%) [4]. - Top-performing stocks in the electronics sector included Jin'an International (44.71%), Qingyi Optoelectronics (34.91%), and Shengbang Co. (26.39%) [4]. Industry News and Key Company Announcements - The U.S. government has intensified semiconductor restrictions against China, emphasizing the need to focus on domestic self-controllable industry chains, including semiconductor foundry and advanced packaging [4]. - TSMC's earnings call indicated that AI will be a major growth driver, with overall revenue expected to grow at a CAGR of 20% over the next five years [4]. - Significant events in January included the release of new AI models and advancements in AI applications, indicating a robust growth trajectory in the AI sector [19][20].