半导体与半导体生产设备行业研究报告：创新驱动与产业链协同发展，安徽集成电路崛起

Investment Rating - The report recommends a "Buy" rating for the semiconductor and semiconductor equipment industry, indicating an expected stock price increase of over 15% compared to the benchmark index [4]. Core Insights - The semiconductor industry is entering a new growth phase driven by artificial intelligence (AI) demand, with significant increases in AI server requirements and hardware upgrades in automotive, PC, and smartphone sectors [2][10]. - AI is reshaping the semiconductor product structure, with high-performance computing and storage chips experiencing faster growth than other chip types, leading to an increase in their share of global semiconductor sales [2][16]. - The report highlights the rapid development of the integrated circuit industry in Anhui Province, supported by leading companies and a collaborative industrial ecosystem, which is contributing to the province's economic growth [3][45]. Summary by Sections 1. Global Semiconductor Industry Trends - AI is identified as the new driving force for semiconductor growth, transitioning the industry from traditional performance enhancements to AI-centric developments [10][12]. - Geopolitical tensions are creating both challenges and opportunities for China's semiconductor industry, pushing for greater self-sufficiency in chip manufacturing [11][31]. 2. Anhui Province Integrated Circuit Industry Overview - Anhui's integrated circuit industry has seen rapid growth, with over 40 listed companies and significant production increases, achieving a CAGR of 88.83% from 2020 to 2023 [45][46]. - The province is home to major players like BOE and Changxin Storage, which are pivotal in driving the local semiconductor ecosystem [3][45]. - The government has implemented policies and established a substantial investment fund to support the development of the integrated circuit sector [52][55]. 3. Storage Industry Developments - Changxin Storage is leading the domestic DRAM market, with production capabilities reaching 85,000 wafers per month and advancements in DDR4, DDR5, and HBM technologies [59][66]. - The demand for high-performance storage solutions like HBM is expected to surge due to AI applications, with HBM's market share projected to grow significantly [25][27]. 4. Display Panel Industry Insights - The display panel industry in Anhui is evolving with major companies like BOE and Visionox, focusing on OLED and Mini LED technologies to meet rising consumer demands [67][74]. - The province is positioned to benefit from the global shift towards new display technologies, with significant investments in AMOLED production lines [84][85]. 5. Automotive Electronics Sector - Anhui is a key player in China's automotive industry, with a strong focus on electric and intelligent vehicles, driving demand for automotive electronics [85][92]. - The province is developing its automotive chip sector, with companies like Jinghe Integrated Circuit and Changxin Storage contributing to the supply chain [91][92].