电子行业24Q1季报总结：汽车电子板块：24Q1业绩普遍修复，24年汽车电子智能化标的有望迎来收获期

Investment Rating - The automotive electronics sector is rated as "Outperforming the Market" for 2024, indicating a positive outlook for the industry as it enters a period of growth driven by smart automotive technologies [3]. Core Insights - The report highlights a general recovery in Q1 2024 performance across various segments, with significant growth expected in automotive electronics and laser radar technologies [3][4]. - The laser radar segment has shown strong sales growth, with companies like SUTENG and Hesai Technology reporting substantial increases in shipment volumes [3][4]. - The automotive connector business is also experiencing growth, with companies like Dalian Technology and Ruikeda achieving notable revenue increases [4]. - The report emphasizes that 2024 will be a critical year for the automotive industry, particularly in the context of smart technology adoption and government incentives for vehicle upgrades [4][5]. Summary by Sections Automotive Electronics - Q1 2024 performance has generally improved, with smart automotive electronics expected to enter a harvest period [3]. - Companies such as Dalian Technology and Ruikeda reported revenues of 1.04 billion and 0.462 billion respectively, with year-on-year growth rates of 69% and 41% [4]. Laser Radar - The laser radar segment has seen significant year-on-year recovery, with SUTENG shipping over 120,000 units and Hesai Technology expecting over 50,000 units in Q1 2024 [3]. - Revenue from laser radar-related businesses for companies like Yongxin Optical exceeded 90 million in 2023, marking a growth of over 50% [3]. Connectors - The connector segment has shown a strong recovery, with Dalian Technology achieving a revenue of 1.04 billion in Q1 2024, reflecting a 69% increase year-on-year [4]. - The automotive connector business for Dalian Technology, Ruikeda, and Weifeng Electronics generated revenues of 820 million, 1.37 billion, and 120 million respectively in 2023, with varying growth rates [4]. Investment Recommendations - The report suggests focusing on companies involved in smart hardware, laser radar, optics, and domain controllers as they are expected to benefit from the ongoing transformation in the automotive sector [5].