行业周观点2024年第十七期：5月13日-5月17日

Group 1: Pharmaceutical Industry - The pharmaceutical index decreased by 1.98%, underperforming the CSI 300 index by 2.3 percentage points, suggesting a focus on synthetic biology key listed companies [2] Group 2: Electronics Industry - The electronics index fell by 0.32%, aligning with the CSI 300 index performance. Sub-industry performance varied, with semiconductors down by 1.14% and consumer electronics up by 2.50%. The semiconductor industry is at the bottom of a down cycle, but global monthly sales continue to grow year-on-year, indicating a gradual recovery in consumer demand. Recommendations include focusing on AI computing chips, memory, semiconductor equipment, and AI terminals [6][42] Group 3: Communication Industry - The communication industry index rose by 0.41%, outperforming the CSI 300 index. The weekly transaction volume was 1600.48 billion yuan, down 11% from the previous week. OpenAI launched the new flagship model GPT-4o, which can process various input types and generate corresponding outputs. The demand for high-speed optical modules is expected to increase significantly, with top manufacturers' performance accelerating in Q1 2024 [6][43] Group 4: Lithium Battery Industry - The lithium battery index dropped by 3.55%, underperforming the CSI 300 index. Short-term investment opportunities are suggested based on industry sentiment and price trends [7] Group 5: New Materials Industry - The new materials index decreased by 0.86%, underperforming the CSI 300 index. Sub-sectors like carbon fiber and superhard materials saw some increases. Recommendations include focusing on new materials with strong domestic substitution attributes and growth potential, such as semiconductor materials and industrial gases [9][57] Group 6: Nonferrous Metals Industry - The nonferrous metals sector underperformed the CSI 300 index, with a decline of 0.86%. Key sub-sectors included gold (up 1.45%) and copper (up 0.82%). The report suggests monitoring investment opportunities in copper, aluminum, and gold due to favorable macroeconomic conditions and policy support [11] Group 7: Agricultural Industry - The agricultural index increased, outperforming the CSI 300 index by 1 percentage point. The pig farming sector shows a bullish sentiment with an average price of 15.17 yuan/kg, up 1.61% month-on-month and 5.71% year-on-year. The poultry sector is expected to see limited short-term price rebounds due to high supply levels [13][52] Group 8: Machinery Industry - The machinery sector is experiencing a reversal in fundamentals, with recommendations to focus on sectors benefiting from large-scale equipment updates, such as shipbuilding, robotics, and machine tools. The report emphasizes the importance of monitoring sectors with bottom reversal expectations and those benefiting from industrial equipment updates [18][53] Group 9: Power and Utilities Industry - The power and utilities sector index fell by 0.39%, underperforming the CSI 300 index. Sub-sectors like power grid and hydropower saw increases, while thermal power declined. The report suggests a long-term focus on stable, high-dividend companies in the power and gas sectors [66]