半导体周跟踪：电子Q3业绩景气，车规半导体有望复苏

Investment Rating - The industry investment rating is "Outperform the Market" [5][12]. Core Viewpoints - The semiconductor sector is experiencing a recovery in transaction volume, with A-share semiconductor transaction amounts averaging 119.2 billion yuan, accounting for 7% of the overall A-share transaction volume [1]. - The report highlights the potential recovery in automotive semiconductor demand, driven by the growth of electric vehicles and autonomous driving technologies [6]. - The recent listing of Horizon Robotics on the Hong Kong Stock Exchange marks a significant milestone, raising 5.407 billion HKD, indicating strong market interest and positioning in the smart driving sector [1]. Summary by Sections Semiconductor Sector Overview - The semiconductor indices have shown slight declines, with the Shenwan Semiconductor Index down by 1.28% [1]. - Various sub-sectors within semiconductors have experienced minor fluctuations, with equipment and materials showing slight increases [1]. Financial Performance - Notable companies such as Rockchip and Espressif have reported significant year-on-year revenue growth, with Rockchip achieving a revenue of 911 million yuan, up 51.36% year-on-year [4]. - The storage sector has seen most stocks rise, with Dongxin shares increasing by 13.4% [4]. Market Trends - The U.S. government has expanded the 25% tax credit to include wafer production, which may stimulate domestic semiconductor manufacturing [2]. - The report suggests that the demand for high-bandwidth memory (HBM) is expected to exceed supply in the coming year, indicating a robust market outlook [4]. Investment Recommendations - The report recommends focusing on companies within the automotive semiconductor space, as demand is anticipated to improve [6]. - A list of companies to watch includes Shengbang Technology, Longxin Technology, and Changdian Technology, which are expected to benefit from the upcoming electronic peak season [7].