Investment Rating - The report maintains a "Buy" rating for companies such as 赛腾股份 (Saiteng), 中微公司 (Zhongwei), and 增持 (Increase Holdings) for 香农芯创 (Shannon Chip) and 精智达 (Jingzhida) [6][15][24]. Core Insights - SK Hynix reported a record high revenue of 17.57 trillion KRW for Q3 2024, a 94% year-on-year increase, driven by strong demand for AI-related memory products, particularly HBM, which saw a 330% year-on-year growth [3][12]. - TSMC plans to increase its pricing for processes below 5nm by up to 10% due to rising operational costs and the deployment costs of 2nm technology, which may exceed $30,000 per wafer starting in Q4 2025 [5][13]. Summary by Sections Stock Recommendations and Changes - The report highlights key recommended stocks, including 赛腾股份, 香农芯创, and 中微公司, with specific EPS and PE forecasts for 2023, 2024E, and 2025E [14][15]. Weekly Market Analysis and Outlook - The electronic industry experienced a slight decline of 0.50% from October 21 to October 25, ranking 29th among all sectors, with a PE ratio of 55.52 [4][20]. - The report notes a mixed performance among electronic sub-sectors, with panels, discrete components, and LED sectors showing the highest gains [22]. Industry Dynamics Tracking - The report emphasizes the significant growth in demand for AI memory products, particularly HBM and eSSD, and anticipates continued growth in 2025 as generative AI evolves [3][12]. - TSMC's pricing adjustments reflect the increasing costs associated with advanced manufacturing processes, particularly for AI and high-performance computing products [5][13]. Key Company Announcements - The report suggests monitoring companies in the HBM supply chain, including 赛腾股份, 香农芯创, and others, as they are expected to benefit from the growing demand for AI-related memory products [3][12].
电子行业周报：SK海力士HBM销售额大幅增长，台积电将提高5nm以下工艺报价
Huaxin Securities·2024-10-28 03:01