电子行业周报：AI眼镜密集发布，看好端侧AI硬件创新浪潮

Investment Rating - The report maintains a "Recommended" investment rating for the industry [1]. Core Insights - The report highlights the potential of edge AI hardware innovation, particularly with the upcoming launch of AI glasses by Baidu, which are expected to enhance human-computer interaction and provide significant advantages in privacy, security, low latency, and personalization [3][22]. - The demand for AI-related products is anticipated to drive growth in various segments, including AI chips, servers, and PCB boards, with a focus on companies like Huadian Co., Deep South Circuit, and others [4][24]. - The report emphasizes the recovery trends in upstream sectors such as passive components, digital SoCs, RF, storage, and packaging, suggesting a positive outlook for companies like Sanhua Group and Zhaoyi Innovation [25]. Summary by Sections 1. Market Review - From November 11 to November 15, the overall market declined, with the electronic industry index dropping by 4.15%, ranking 20th out of 31 sectors [11][12]. 2. Sub-industry News 2.1 Semiconductor - Samsung plans to expand its HBM production facilities, with completion expected by 2027, to meet the growing demand for AI computing [15]. - Global silicon wafer shipments reached a five-quarter high in Q3, with a 5.9% quarter-on-quarter increase [15]. 2.2 AI, IoT, and Automotive Electronics - The AI PC market share grew to 20% in Q3 2024, with a 49% increase in shipments [18]. 2.3 Innovative Electronics & Wearables - Baidu's AI glasses, set to launch in 2025, are expected to revolutionize user interaction with AI technology [19][22]. 2.4 Mobile & 5G - Smartphone sales during China's "Double Eleven" shopping festival rebounded by 26% year-on-year, reaching 9.5 million units [20]. 2.5 LCD & LED - TrendForce predicts a slight decline in mobile panel shipments in 2025, despite a growth forecast for 2024 [21]. 3. Industry Investment Strategy and Weekly Outlook - The report continues to favor companies involved in edge AI hardware, highlighting the importance of sound and portability in future AI agents [22]. - Recommendations include focusing on leading companies in the PCB and semiconductor sectors, such as Huadian Co. and North China Innovation [26].