电子行业周报（12.01~12.05）：豆包发布手机助手预览版，看好端侧AI投资机会-20251208

Investment Rating - The industry investment rating is maintained at "Overweight" [1] Core Views - The report highlights the potential investment opportunities in edge AI, particularly with the release of the "Doubao Mobile Assistant" by ByteDance, which showcases the capabilities of AI in mobile applications [5][6] - The electronic industry has shown a recovery trend in consumer electronics, with continuous releases of foldable smartphones and sustained high demand for AI infrastructure [19] Market Performance - The electronic industry index rose by 1.09% during the week of December 1 to December 5, 2025, closing at 6300.64 points [3][10] - The semiconductor sector reported a slight increase of 0.88%, while consumer electronics saw a rise of 1.61% [3] - Year-to-date, the electronic industry index has increased by 42.15%, outperforming the CSI 300 by 25.65 percentage points [10] Valuation Metrics - The electronic sector's Price-to-Earnings (PE) ratio (TTM, excluding negative values) is 57.70X, which is at the 39.97th percentile of the past 10 years [4][11] - The Price-to-Book (PB) ratio is 4.81X, positioned at the 57.57th percentile historically [4][11] Industry Dynamics - The report emphasizes the collaboration between Doubao and smartphone manufacturers to integrate AI capabilities into mobile operating systems, enhancing user experience through complex task automation [5][6] - The ongoing advancements in AI technology are expected to drive demand for edge hardware upgrades, particularly in sectors like SOC and thermal materials [19] Investment Recommendations - The report suggests focusing on investment opportunities in AI infrastructure, edge SOC, the supply chain for foldable smartphones, and the storage industry [19] - Specific companies to watch in the AI infrastructure sector include Cambricon, Chipone, and Aowei Technology, while in the edge SOC sector, companies like Rockchip, Hengxuan Technology, and Espressif Systems are recommended [19]