The electronics industry is not light in the off-season and the company's performance is growing

As of the 25th, there were 59 listed companies in the electronic components industry disclosed their first-quarter reports, of which 40 companies achieved growth in performance, another 8 companies increased in the first quarter, and 70% increased in the first quarter. In terms of subdivision industries, the overall performance of listed companies in the semiconductor industry is better than that of other sub-sectors.

As the traditional off-season of the electronics industry, the operating income of most companies fell slightly month-on-month, but it increased significantly compared with the same period last year, showing a non-light trend in the off-season. However, in the shadow of Japan's earthquake disaster, most industry analysts downgraded the growth expectations of the electronics industry.

Demand for solar modules is booming Recently, iSuppli, a market research organization, forecasted an increase in global semiconductor sales in 2011, which is an increase of US$5 billion from the original forecast. According to the latest forecast by iSuppli, the total revenue of the global semiconductor industry this year will reach US$325.2 billion, an increase of 7%.

From the perspective of the A-share listed companies, of the 59 listed companies that have disclosed quarterly reports, 40 companies have achieved growth in performance, and another 8 companies have increased in the first quarter. Overall, 70% of the company’s first-quarter results have increased. Among them, the overall performance of the semiconductor industry companies is stronger than other sub-sectors. The performance of listed companies that produce semiconductor materials, such as China Central, Chaori Sun, and Silicon Labs, had higher growth rates of 793.52%, 764.38%, and 462.44%, respectively.

The strong demand for solar modules has driven the performance of related companies. Of the listed companies with significant growth in performance, Chaoyue Sun’s operating income in the first quarter of this year reached 650,229,900 yuan, an increase of 41.35% over the same period of last year. The company believes that the rapid development of the European photovoltaic market, solar module demand led to growth in operating income. According to the quarterly report of China Central's shares in the new PV industry, the company achieved an operating income of 62,549,400 yuan, a year-on-year increase of 25,05%, a profit of 8,224,290,000 yuan, and achieved a turnaround.

According to Solarbuzz's latest annual solar market report, the installed capacity of the global solar energy market in 2010 reached 18.2GW, an increase of 139% year-on-year, and solar energy industry revenue reached 82 billion US dollars, a substantial increase of 105% over the same period of last year. Analysts believe that the nuclear disaster caused by Japan's nuclear disaster may be a good thing for the photovoltaic industry, and the development of the solar energy industry will bring opportunities for related companies of electronic components.

The impact of Japan's earthquake disaster or in the second quarter shows that, from the overall situation of the domestic electronics industry, most companies’ operating income chain data fell slightly, but the year-on-year data showed a substantial increase. The monthly report of Shenyin Wanguo revealed that the overall performance was at a relatively low level due to the fact that the electronics industry's economy has not yet started in the first half of 2010. However, after the second half of the year's economic recovery, the performance of listed companies grew rapidly, the production capacity expanded rapidly, and the overall performance improved significantly. , showing a higher growth rate year-on-year.

However, the earthquake in Japan has brought new changes to the development of the global electronics industry. Shenyinuo Wanguo pointed out in the research report that the Japanese earthquake and the resulting tsunami, nuclear leakage, power supply shortages, and transportation difficulties have had a huge impact on the global electronics industry, affecting the production capacity of electronic components and upstream raw materials. Supply chain fracture risk. At present, electronic manufacturers' material inventory is still available for 1 to 2 months, and the second quarter will be an important observation period for the continued impact of the Japanese earthquake.

Guotai Junan electronics industry analyst Wei Xingyi also holds the same view. He believes that in 2011 the global semiconductor industry economy will have recovered to the stable and modest growth before 2008, but after Japan’s earthquake, in addition to the decline in Japan’s consumption capacity projections, it will also allow Japan to manufacture semiconductor upstream key raw materials. The shortage crisis will have a negative impact on the global semiconductor industry in 2011.

Hua Hua Securities analyst Sun Hua believes that after the earthquake in Japan, the production and export of machinery and equipment, components, and exports will be blocked or delayed, causing fluctuations in the production of domestic related machine manufacturers; on the other hand, if Japan’s supply cannot recover quickly, supply After the chain inventory is consumed, companies in the domestic part that can provide products of the same model may get alternative opportunities. However, the prices of raw materials may continue to climb, which will affect the performance of listed companies.

“The earthquake in Japan cut off the electronics industry supply chain, and domestic electronic components and companies have not yet reached the capacity to undertake the transfer of production capacity brought about by Japan’s electronic damage. The impact on domestic listed companies is negative.” Dongxing Securities analyst Wang Yuquan To maintain the previous judgment on the destructive impact of Japan's earthquake disaster, "In addition, the substantial expansion of the electronics industry in 2010 may lead to oversupply and decline in corporate profitability."