电子行业周报（2024年第48周）

Investment Rating - The report maintains an "Outperform" rating for the electronic industry, indicating a projected increase of over 5% relative to the benchmark index in the next six months [4]. Core Insights - The electronic industry experienced a decline of 3.3% in the week of November 18-22, 2024, ranking 27th among 31 sectors in the Shenwan classification [16][19]. - The semiconductor sector showed a weekly decline of 2.9%, with the semiconductor index at 4622.6 on November 22, 2024 [31]. - Global semiconductor sales reached $55.32 billion in September 2024, marking a year-on-year growth of 23.2% [37]. - Smartphone shipments in China for July, August, and September 2024 were 22.17 million, 21.10 million, and 23.72 million units, with year-on-year changes of 28.3%, 17.7%, and -25.7% respectively [39][45]. Market Overview - The electronic industry saw a weekly decline of 3.3%, with major indices like the Shanghai Composite Index and Shenzhen Component Index also experiencing declines of -1.9% and -2.9% respectively [16]. - Within the electronic sector, sub-sectors such as electronic chemicals II, semiconductors, and consumer electronics reported declines of -2.7%, -2.9%, and -4.1% respectively [19][24]. High-Frequency Data Tracking Semiconductor Industry - The semiconductor index's performance was weaker compared to the Philadelphia and Taiwan semiconductor indices, which increased by 2.5% and 0.6% respectively [31]. - The Philadelphia semiconductor index reached 5173.1, reflecting a year-on-year increase of 50.6% as of September 30, 2024 [32][37]. - Key chip prices showed slight declines, with DDR4 (16Gb) priced at $3.10, down $0.02 week-on-week [39][43]. Consumer Electronics Industry - Smartphone penetration rates remained stable, with September 2024 showing a penetration rate of 93.5% despite a decline in shipments [45]. - Prices for LCD TV panels and notebook panels remained stable or decreased slightly, indicating a competitive pricing environment [48]. Industry News and Important Announcements - The African smartphone market grew by 3% year-on-year in Q3 2024, with Transsion leading with a 50% market share [50]. - Huawei's Mate 70 series is set to launch on November 26, 2024, featuring significant AI upgrades [54].