电子周跟踪：电子制造稳步增长，国补延续刺激消费

Investment Rating - The report maintains an investment rating of "Outperform the Market" for the electronic industry [1][6]. Core Insights - The electronic manufacturing industry in China is experiencing steady growth, with government subsidies continuing to stimulate consumer demand. The overall development trend of the industry is positive, supported by a significant increase in production and exports [3][6]. - The report highlights a notable increase in the production value of the electronic information manufacturing industry, which grew by 12.2% year-on-year, with mobile phone production reaching 1.504 billion units, a year-on-year increase of 8.9% [3][6]. - The upcoming CES Consumer Electronics Show is expected to catalyze short-term growth in the consumer electronics sector, particularly in smart wearable devices and AI applications [6]. Market Overview - The overall market experienced a decline during the week of December 30, 2024, to January 3, 2025, with the Shanghai Composite Index falling by 5.55% and the Shenzhen Component Index dropping by 7.16%. The semiconductor index saw a decline of 10.06% [2][14]. - In the sub-sectors, optical optoelectronics, consumer electronics, and semiconductor equipment faced declines of 7.07%, 7.76%, and 9.37%, respectively [2][17]. Production and Export Data - From January to November 2024, the electronic information manufacturing industry showed rapid production growth, with exports continuing to recover. The production of integrated circuits increased by 23.1% year-on-year, totaling 395.3 billion units [3][6]. - The report indicates that the cumulative export delivery value increased by 1.3% year-on-year, with notable growth in the export of integrated circuits, which rose by 11.4% [3][6]. Company Performance - The report lists the top-performing stocks for the week, with Chicheng Co., Huacan Optoelectronics, and Guoxing Optoelectronics showing increases of 26.35%, 18.48%, and 16.61%, respectively. Conversely, Derun Electronics and Shiyida faced significant declines of 30.91% and 29.19% [2][24].