智通财经网·2025-11-12 00:56Group 1 - The computing power sector is still in the performance realization phase, with a relatively moderate valuation level, and continues to be optimistic about related areas such as PCB, domestic computing power, IP licensing, and chip inductors [1] - 2026 is expected to be a key year for the recovery of the foldable screen market, with rumored Apple foldable products likely to stimulate overall category discussions and potentially bring new insights in software interaction and hardware design, further activating market demand [1] - New wearable devices launched this year are also expected to drive market recovery [1] Group 2 - The electronic industry showed stable performance with significant differentiation among individual stocks, with an overall decline of 0.26% during the week of November 3-7, 2025 [2] - The SW other electronics II sector performed well, rising by 2.79%, while the SW semiconductor sector, being the largest weight, fell by 1.11%, dragging down the industry index [2] - The top three performing stocks included Jingquan Hua with a 48.41% increase, followed by Kecuan Technology and Zhongfu Circuit with increases of 34.75% and 29.41%, respectively [2] Group 3 - The Chinese semiconductor industry demonstrated strong recovery momentum in the first three quarters of 2025, with revenue reaching 479.378 billion yuan, a year-on-year increase of 11.49%, and net profit of 41.353 billion yuan, a year-on-year increase of 52.98% [3] - The semiconductor sector achieved revenue of 161.010 billion yuan in Q3 2025, with a year-on-year growth of 2.8% and net profit of 17.931 billion yuan, a year-on-year increase of 60.6% [3] - The industry is expected to experience a resonance of "price cycle" and "product iteration cycle" in 2026, with capital expenditure likely to accelerate [3] - Investment focus should be on three main areas: advanced capacity demand in wafer manufacturing (e.g., SMIC), order opportunities in semiconductor equipment and materials during the expansion cycle, and long-term growth space brought by domestic computing power and storage [3]