电子行业周报：英伟达Blackwell需求强劲，IC China2024聚焦半导体产业变革

Investment Rating - The report suggests a positive outlook for the electronic sector, indicating a moderate recovery in demand and recommending focus on four main investment themes: AIOT, AI-driven technologies, equipment materials, and consumer electronics [3][8]. Core Insights - Nvidia reported a 94% year-on-year revenue growth in Q3, with a net profit increase of 100%. The Blackwell chip is expected to significantly support revenue growth in the upcoming quarters [4][20]. - The IC China 2024 event highlighted key themes such as AI industry transformation, semiconductor market recovery, and international cooperation within the semiconductor supply chain [5]. - The electronic industry is currently experiencing a mild recovery phase, with a recommendation to pay attention to specific sectors that are expected to benefit from technological advancements and market trends [3][8]. Summary by Sections Industry News - Nvidia's Q3 revenue reached $35.08 billion, up 94% year-on-year, with a net profit of $19.31 billion, marking a 109% increase. The demand for the Blackwell chip is described as "amazing," with shipments expected to accelerate in 2025 [20][21]. - The IC China 2024 event forecasted a 15% to 20% growth in the global semiconductor industry for the year, with the market size projected to exceed $600 billion [5]. - Huawei is set to launch its Mate 70 series on November 26, featuring significant upgrades in design and performance [20]. Market Performance - The report notes that the electronic sector underperformed the broader market, with the Shanghai Shenzhen 300 Index down 2.60% and the Shenwan Electronic Index down 3.29% [7][28]. - As of November 22, various sub-sectors within the electronic industry showed declines, including semiconductors (-2.86%) and consumer electronics (-3.93%) [28][29]. Investment Recommendations - The report recommends focusing on the following sectors: 1. AIOT sector, with companies like Lexin Technology and Hengxuan Technology. 2. AI innovation-driven sector, including computing chips and optical devices. 3. Domestic supply chain replacement in semiconductor equipment and materials. 4. Consumer electronics, which are expected to rebound [8].