电子行业双周报（2025、06、27-2025、07、10）：Grok4正式发布，PerplexityAI推出浏览器-20250711

Investment Rating - The report does not explicitly state an investment rating for the industry, but it provides insights into the performance of the electronic sector and suggests potential investment opportunities based on market trends and company performance [3][10]. Core Insights - The electronic sector has shown a cumulative increase of 2.12% over the past two weeks, outperforming the CSI 300 index by 0.49 percentage points, ranking 19th among the Shenwan industries [3][10]. - The report highlights the rapid rise of domestic AI models and the ongoing competition in the global AI landscape, suggesting that AI computing power and edge AI applications will drive demand in the second half of the year [3][27]. - The report emphasizes the importance of companies involved in AI server ODM and those with high-end PCB/CCL production capacity as key investment targets [3][27]. Market Review and Valuation - The SW electronic sector's PE TTM (excluding negative values) is 45.35 times, positioned at the 86.27% percentile for the past five years and 74.12% for the past ten years [3][15]. - The electronic sector has experienced a year-to-date increase of 3.75%, outperforming the CSI 300 index by 1.84 percentage points, ranking 20th among Shenwan industries [3][10]. Industry News - Elon Musk announced that GROK will soon be implemented in Tesla vehicles [19]. - Perplexity AI launched a new AI-powered browser, aiming to challenge Google's dominance [19]. - Oracle's CEO reported strong performance in the 2026 fiscal year, with significant cloud service agreements expected to generate over $30 billion annually starting in 2028 [19]. - Foxconn reported a revenue increase of 10.09% year-on-year for June [19]. - Meta acquired nearly 3% of EssilorLuxottica, valued at approximately $3 billion [19]. Industry Data - Global smartphone shipments reached 305 million units in Q1 2025, marking a year-on-year growth of 1.53% [21]. - In May 2025, China's smartphone shipments totaled 22.53 million units, a decline of 21.24% year-on-year [21]. - Liquid crystal panel prices for various sizes in June 2025 showed a slight decrease, with prices ranging from $38 to $176 per piece [23][26]. Weekly Perspective - The report suggests focusing on two main lines for investment: AI computing power and edge AI applications, which are expected to drive demand for components such as PCBs, batteries, and cooling systems [27]. - The launch of the Ray-Ban Meta smart glasses is anticipated to boost shipments, with SoC and optical systems becoming core components for AI and AR glasses [27]. Key Companies to Watch - Lixun Precision is highlighted for its deep ties with major clients and potential benefits from AI strategies [28]. - Pengding Holdings is noted for its comprehensive PCB product offerings and strong market position [28]. - Shenghong Technology is recognized as a leading PCB manufacturer with significant advancements in AI server technology [28].