智通财经网·2025-06-22 07:17Core Viewpoint - The global semiconductor sales are expected to grow by 14.4% year-on-year by April 2025, with structural differentiation in the market, benefiting SoC chips from national subsidies for new energy vehicles and the release of AI terminals [1][3] Industry Review - The electronic industry showed a stable yet positive trend in the first half of 2025, with a revenue of 861.37 billion yuan, a year-on-year increase of 17.7%, and a net profit of 26.9 billion yuan, up 75.2% [2] - Despite market fluctuations due to US tariff policies, the resilience of the electronic industry chain was evident, with a year-on-year increase of 11.3% in the added value of the electronic information manufacturing industry from January to April [2] Industry Outlook - The demand is expected to continue differentiating, with a focus on AI edge computing and domestic substitution [3] - The penetration rate of AI smartphones is projected to reach 34% by 2025, while AI PCs are expected to surge from 0.5% in 2024 to 79.7% by 2028 [3] - The domestic server market in China is predicted to reach $25.3 billion by 2028, driven by local innovation due to US technology restrictions [3] Policy Impact and Technological Revolution - National subsidy policies have stimulated market demand, with smartphone sales increasing by 182% year-on-year during the Spring Festival, and a rise in the proportion of mid-to-high-end models [4] - AI technology is becoming a core driver, with expectations for significant hardware upgrades and deeper application scenarios [4] - The AR glasses market is anticipated to experience explosive growth, with global sales projected to reach 5.5 million units by 2025, driven by applications in B-end medical and industrial sectors [4]