Core Viewpoint - The semiconductor supply chain is undergoing significant consolidation, with multiple A-share companies actively pursuing acquisitions to enhance their market positions and adapt to evolving industry dynamics [1][4]. Industry Trends - The electronic components distribution sector is experiencing increased merger and acquisition activity, reflecting growth momentum and a trend towards greater market concentration within the global electronics supply chain [1][3]. - Approximately 44% of electronic components are procured directly by downstream manufacturers from original manufacturers, while 56% rely on distribution channels, indicating the critical role of distributors in the supply chain [2][3]. Market Concentration - The revenue share of the top four distributors is projected to be 53.91% of the total revenue of the top 50 distributors in 2024, a slight decrease from 56.72% in 2023, indicating a trend of increasing concentration in the industry [3]. - Chinese distributors are rapidly emerging, with companies like Zhongdian Port and Yachuang Electronics making significant market strides, as evidenced by Zhongdian Port's revenue reaching 486.39 billion in 2024 [3][4]. Diversification Strategies - Distributors are diversifying their operations by extending their services upstream to original manufacturers and downstream to foundries, as well as venturing into semiconductor R&D and smart manufacturing [5][6]. - Companies like Arrow Electronics and WPG have engaged in numerous acquisitions to enhance their market presence and service offerings [4][5]. Digital Transformation - The semiconductor industry is witnessing a shift towards direct sales and optimized distribution channels, driven by the increasing adoption of digital procurement by semiconductor manufacturers [7]. - Distributors are required to enhance their service capabilities, particularly in supply chain management and technical support, to adapt to the changing market landscape [7]. Long-term Outlook - The rapid development of the domestic electronics industry presents significant opportunities for the electronic components distribution sector, with emerging technologies like 5G and AI driving demand for electronic components [8]. - Chinese distributors are encouraged to innovate and expand their international presence through overseas acquisitions, thereby integrating into the global market [8].

11月17日，英唐智控跌2.18%，成交额9.23亿元。两融数据显示，当日英唐智控获融资买入额1.02亿 元，融资偿还1.18亿元，融资净买入-1527.05万元。截至11月17日，英唐智控融资融券余额合计13.74亿 元。 截至9月30日，英唐智控股东户数6.55万，较上期减少17.42%；人均流通股15917股，较上期增加 21.10%。2025年1月-9月，英唐智控实现营业收入41.13亿元，同比增长2.40%；归母净利润2607.00万 元，同比减少43.67%。 分红方面，英唐智控A股上市后累计派现2.79亿元。近三年，累计派现0.00元。 机构持仓方面，截止2025年9月30日，英唐智控十大流通股东中，香港中央结算有限公司退出十大流通 股东之列。 责任编辑：小浪快报 融资方面，英唐智控当日融资买入1.02亿元。当前融资余额13.74亿元，占流通市值的11.24%，融资余 额超过近一年90%分位水平，处于高位。 融券方面，英唐智控11月17日融券偿还0.00股，融券卖出2900.00股，按当日收盘价计算，卖出金额3.12 万元；融券余量1.64万股，融券余额17.66万元，低于近一年30%分位水平， ...

今年以来，电子元器件分销领域资本运作不断。11月8日，国内IC分销商英唐智控宣布，拟购买光隆集 成100%股权以及奥简微电子80%股权；无独有偶，9月26日，雅创电子宣布拟购买欧创芯40%股权以及 怡海能达45%股权；在6月和3月，雅创电子还分别公告收购类比半导体35.88%股权及融创微100%股 权……如何看待电子元器件分销赛道趋势？《国际电子商情》产业分析师李晋近日对记者分析，不论是 在国内或者国际舞台，各大分销商的并购活动都趋向活跃，这些动态不仅展现了分销行业的增长势头和 全球电子产业链的整合趋势，还预示着行业未来市场集中度的提升。随着分销商规模的扩大和服务的深 化，它们将在全球电子供应链中扮演更加重要的角色，同时也将面临更加激烈的市场竞争和不断变化的 行业挑战。 ...

Core Insights - The electronic components distribution sector is experiencing significant capital activity, with multiple acquisitions announced by major players in 2023, indicating a trend towards market consolidation and increased competition [1][5][6]. Industry Trends - The electronic components market includes a wide range of products such as ICs, resistors, capacitors, inductors, connectors, and diodes. Approximately 44% of electronic components are procured directly by downstream manufacturers from original manufacturers, while 56% rely on distributors [2][3]. - The global distribution landscape is dominated by major companies like Arrow, Avnet, WPG, and Winbond, with the top four distributors projected to generate revenues close to or exceeding $100 billion annually from 2022 to 2024 [3]. Market Concentration - The concentration of the electronic components distribution market is increasing, with the top four distributors expected to account for 53.91% of the total revenue of the top 50 distributors in 2024, down from 56.72% in 2023 [3]. - Chinese distributors are rapidly emerging, with companies like Zhongdian Port and Yachuang Electronics seeing significant revenue growth, driven by sectors such as computing and AI [3]. Performance Disparities - There is a performance divergence among global distributors, with regions like Greater China experiencing recovery due to AI and memory components, while North American and Japanese distributors face negative growth due to inventory destocking [4]. Diversification Strategies - The semiconductor industry has a history of mergers and acquisitions, and this trend is evident in the distribution sector as well. Companies like Arrow and Winbond have made strategic acquisitions to enhance their market position [5][6]. - Distributors are expanding their services beyond traditional distribution to include semiconductor design, PCBA manufacturing, and technical support, adapting to market changes [6][8]. Digital Transformation - The rise of digitalization and e-commerce is reshaping the distribution landscape, with semiconductor manufacturers increasing direct sales and optimizing distribution channels. This shift requires distributors to enhance their supply chain management and technical support capabilities [8]. Future Outlook - The rapid development of the domestic electronic industry presents vast market opportunities for distributors, particularly with the rise of technologies like 5G, AI, and IoT. Distributors are encouraged to strengthen collaborations with suppliers and customers to expand their market share [9]. - Chinese distributors are expected to innovate continuously to adapt to market changes, focusing on enhancing service capabilities and exploring international markets through acquisitions [9].

（文章来源：证券日报） 证券日报网讯英唐智控11月17日在互动平台回答投资者提问时表示，公司代理产品线中包含存储类芯 片，涵盖DRAM、NANDflash、NORFLASH、EMMC和SSD等多种存储器件，代理品牌包括佰维、时 创意、晶存、东芯、芯天下等。公司自研芯片（MEMS微振镜、车载显示芯片）均已进入市场化阶段， 改进型版本也在按预定研发计划加速推进中。 ...

（文章来源：证券日报） 证券日报网讯英唐智控11月17日在互动平台回答投资者提问时表示，公司在维持现有分销业务板块规模 稳定的基础上，将持续加大在芯片设计制造方面的投入，期望芯片研发制造业务在公司整体业务中的占 比能显著提升，成为支撑公司持续发展的核心力量，助力公司在半导体领域实现更大突破。 ...

（编辑 任世碧） 证券日报网讯 英唐智控11月17日在互动平台回答投资者提问时表示，分销业务覆盖汽车、PC/服务器、 手机、家电、公共设施、工业等多个行业，积累了丰富的客户资源，与各行业诸多头部客户均有直接或 间接的合作。 ...

（文章来源：证券日报） 证券日报网讯英唐智控11月17日在互动平台回答投资者提问时表示，公司分销业务、芯片设计制造业务 与国内外客户均有合作。 ...

证券日报网讯英唐智控（300131）11月17日在互动平台回答投资者提问时表示，公司已拥有MEMS器件 级别以及LBS(基于激光束扫描的投影方案)全套系统开发能力，并已建成了完整的MEMS器件自动化生 产线。MEMS微振镜产品直径规格涵盖4mm、1mm、1.6mm、8mm，其中4mm规格的MEMS微振镜产品 进入市场，率先在工业领域实现批量生产。 ...

英唐智控（300131.SZ）11月17日在投资者互动平台表示，公司已拥有MEMS器件级别以及LBS（基于 激光束扫描的投影方案）全套系统开发能力，并已建成了完整的MEMS 器件自动化生产线。MEMS微 振镜产品直径规格涵盖4mm、1mm、1.6mm、8mm，其中4mm规格的MEMS微振镜产品进入市场，率先 在工业领域实现批量生产。 （文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：贵司此前向多家机器人公司送样，是否有达成合作， 目前是否有为知名机器人公司生产部件？ ...