电子行业周报（2024.05.20-2024.05.24）：英伟达24Q1业绩亮眼，GB200或提前导入FOPLP

Investment Rating - The industry investment rating is maintained as "Overweight" [4]. Core Insights - The glass substrate industry is expected to benefit from the accelerated development of high-performance computing (HPC) and AI chips, with Samsung Electro-Mechanics completing its pilot line construction ahead of schedule [8][22]. - The GB200, utilizing copper cable connections, is projected to have a shipment volume of 420,000 units in 2024, which will boost demand in the related supply chain [8][23]. - NVIDIA plans to introduce the GB200 into fan-out panel-level packaging (FOPLP) earlier than expected, which will enhance the advanced packaging industry [8][21]. - NVIDIA's Q1 2024 performance was outstanding, with revenue reaching $26 billion, a 262% increase year-on-year, driven primarily by data center revenue [9][20]. Summary by Sections 1. Core Insights and Investment Recommendations - Glass Substrate: Samsung Electro-Mechanics' pilot line completion is expected to benefit the related supply chain, particularly in HPC and AI fields [8][22]. - Copper Connection: The GB200's successful shipments are anticipated to increase demand for copper connection components [8][23]. - Advanced Packaging: The early introduction of GB200 into FOPLP is expected to benefit the advanced packaging supply chain [8][21]. - Computing Chips: The demand for computing power is expected to rise, benefiting the computing chip supply chain [9][20]. 2. Market Review - The A-share Shenwan Electronics Index fell by 3.49% during the week, underperforming the CSI 300 Index by 1.41 percentage points [11]. - Among the sub-sectors, semiconductors experienced the largest decline at 4.28% [13]. 3. Industry News - NVIDIA's Q1 2024 revenue reached $26 billion, with data center revenue accounting for $22.6 billion, reflecting a significant year-on-year growth [20]. - The GB200 is expected to alleviate supply constraints in AI chip production through its advanced packaging technology [21]. - Samsung's glass substrate technology is positioned to outperform existing organic substrates in electrical and thermal performance [22]. 4. Company Dynamics - Companies such as Wogang Optoelectronics, San Chao New Materials, and Delong Laser are recommended for investment due to their potential growth in the glass substrate sector [10]. - The copper connection sector includes companies like Shenglan Co., Chuangyitong, and Lixun Precision, which are expected to benefit from GB200's success [10]. - The computing chip sector includes companies like Anwuji, Haiguang Information, and Longxin Zhongke, which are anticipated to see growth due to rising demand [10]. - Advanced packaging companies such as Yuxi Electronics and Zhongfu Circuit are also recommended for their growth potential [10].