电子｜电子行业3月金股推荐组合

Core Viewpoint - The article presents the fourth issue of the electronic industry stock recommendation by CITIC Securities, highlighting a positive outlook for the electronic sector in March, with a focus on strong Q1 performance and themes supported by industry trends, particularly in domestic self-sufficiency and AI innovation [2]. Industry Perspective Update - The semiconductor fabrication (Fab) domestic self-sufficiency trend is expected to strengthen, with recommendations to focus on the advanced process industry chain. The strategic value of domestic advanced process capacity is highlighted due to external sanctions altering supply-demand dynamics [2]. - The certainty in semiconductor equipment is increasing, with ongoing investigations into overseas semiconductor equipment companies affecting sales to China, leading to accelerated domestic substitution [2]. - An improvement in supply-demand dynamics for storage is anticipated, with expectations of price increases for mainstream NAND Flash and DRAM products in 2025, driven by inventory reduction and AI demand [3]. Investment Recommendations - Focus on companies with advanced customer ties and low domestic substitution rates in the semiconductor equipment sector [2]. - Emphasize investment in domestic NAND product manufacturers, as they are expected to see profit inflection points in 2025 due to favorable pricing trends [3]. - Monitor opportunities in the smart driving sector and the Android supply chain, particularly with new product launches from Huawei and panel price increases [3].