国巨营运结构来说，磁性元件营收比重约27%至28%，产品线涵盖功率与讯号磁性元件、车规级磁 件、电感器、网路变压器、马达线圈、压电元件及天线等。国巨在电感器与车规磁件全球市占排名第 三，网路变压器更居全球第一。法人也认为国际在市场上有产品组合与市占优势，对价格具一定话语 权。 除国巨外，被动元件大厂华新科同样是磁珠产品重要供应商，旗下积层铁氧体磁珠广泛应用于高频抗 干扰与EMI抑制领域，与同集团佳邦供应互补。随着车用电子、AI伺服器、网通与高速运算需求持续 升温，市场对高品质磁珠需求不坠，业界普遍认为，华新科后续不排除调整相关产品报价。 公众号记得加星标⭐️，第一时间看推送不会错过。 被动元件龙头国巨日前调涨钽电容产品报价后，涨价效应持续扩散。市场昨（2）日传出，国巨旗下 磁性元件品牌普思（PULSE）向客户发出通知，针对部分铁氧体磁珠（Ferrite Bead）产品实施价格 调整，今年1月1日起正式生效。业界研判，在原物料成本高档与高频应用需求推升下，同业如华新科 亦具备跟进调涨的条件。 根据供应链流出的普思公告，由于关键原材料，特别是白银价格长期居高不下，为确保产品品质与供 应稳定，并持续投资必要的产能与 ...

Core Insights - The overall situation of broker research coverage of A-share listed companies is becoming clearer as 2025 approaches its end, with over 2,800 companies having received broker attention, indicating that more than half of the market's listed companies have been covered [1][2] - The most focused sectors include machinery, electronics, and biomedicine, each with over 290 companies receiving broker research [1][2] Machinery Sector - A total of 329 listed companies in the machinery sector received broker research, with notable companies including Huichuan Technology, Boke Co., and Weichuang Electric, each having over 100 research visits [3] - The machinery sector index has seen a cumulative increase of nearly 42% since the beginning of 2025, ranking among the top in 31 first-level industries [3] - Investment opportunities in the machinery sector for 2026 are centered around humanoid robots, with a focus on companies entering the Tesla supply chain and domestic leading companies in the sector [4] Electronics Sector - The electronics sector has been particularly favored by institutional investors, with over 320 companies receiving broker research in 2025 [2][3] - Investment opportunities for 2026 include new technologies and demands driven by the AI innovation cycle, particularly in the storage industry, which is entering an upward cycle [5] - The demand for AI chips and high-performance storage is expected to grow, benefiting semiconductor testing equipment and related companies [5] Biomedicine Sector - The biomedicine sector has seen 296 companies receiving broker research, with companies like Maiwei Biotech and Aibo Medical being popular among brokers [3] - The cumulative increase in the biomedicine sector since 2025 has narrowed to 12.44%, ranking lower among the 31 first-level industries [3] - For 2026, the focus remains on the innovative drug industry chain, driven by strong policy support and the increasing internationalization of domestic innovative drugs [6]

Group 1 - The core viewpoint of the articles highlights the significant interest from brokerages in A-share listed companies, with over 2800 companies receiving brokerage research in 2025, indicating that more than half of the market's listed companies have been under brokerage attention [1][2] - The mechanical equipment, electronics, and pharmaceutical biotechnology sectors are identified as the most favored by brokerages, with over 290 companies in each sector receiving research attention [1][2] - The mechanical equipment sector is particularly noted for investment opportunities in the humanoid robot industry chain, while the electronics sector is advised to focus on new technologies and demands driven by the AI innovation cycle [3][4] Group 2 - Crystal Optoelectronics, a company in the electronics sector, has been the most favored by brokerages, receiving 175 research visits, and is part of a sector that has seen a significant price increase of nearly 42% in 2025 [1][2] - The electronics sector has over 320 companies receiving brokerage research, with notable companies like Huaqin Technology and Luxshare Precision receiving more than 140 research visits each [2] - The pharmaceutical biotechnology sector has 296 companies under brokerage research, with a cumulative increase of only 12.44% in 2025, indicating a relative underperformance compared to other sectors [3][4] Group 3 - Investment opportunities in the humanoid robot sector are expected to grow, with a focus on companies entering the Tesla supply chain and those involved in core supply chain and standardization [3] - The electronics sector is anticipated to benefit from the AI-driven demand for high-performance storage and semiconductor testing equipment, suggesting a favorable outlook for related companies [4] - The pharmaceutical sector is expected to continue focusing on innovative drug companies, supported by favorable policies and increasing international market presence, which will attract more investor attention [4]

Investment Summary - The electronic industry index (CITIC) increased by 44.67% from the beginning of 2025 to December 5, 2025, driven by the innovation wave led by DeepSeek and the continuous iteration of AI applications on the terminal side [3][13][20] - The AI technology-driven innovation in the industrial chain and the recovery of terminal applications are expected to continue to push the electronic industry upward, with the storage sector entering a price increase cycle starting in the second half of 2025 due to supply-demand gaps [3][4][30] Market Review - The electronic sector's performance has outpaced the CSI 300 index, with a notable increase in institutional investment, as evidenced by the total market value held by funds in the electronic sector reaching 937.088 billion yuan, accounting for 5.07% of the circulating A-share market [3][20][25] - The top ten companies by fund holdings in the electronic sector include Maolai Optics, Lanke Technology, and Zhongke Feice, indicating a strong focus on the semiconductor core track [3][21][24] 2026 Investment Outlook - The report suggests capitalizing on the AI innovation cycle by focusing on new technologies, demands, and cycles, with a positive outlook for the following areas: 1. Semiconductor storage: The storage industry is entering an upward cycle driven by explosive demand for AI computing infrastructure, particularly in high-performance storage products like HBM and DDR5 [4][32][58] 2. Semiconductor testing equipment: The demand for testing machines is expected to rise due to the increasing complexity of AI chips and high-performance storage, with the global semiconductor testing equipment market projected to exceed $13.8 billion in 2025 [5][77][81] 3. Magnetic components: The transition to 800V high-voltage direct current (HVDC) architecture is anticipated to accelerate the demand for magnetic components, driven by the increased power requirements of AI servers [6][30][56] Semiconductor Storage - The storage industry is expected to experience a "super cycle" due to the explosive demand for AI computing, with the global storage market projected to approach $300 billion by 2027 [32][36] - The report highlights that AI applications are significantly increasing the demand for storage, with AI servers requiring up to eight times more DRAM and three times more NAND than traditional servers [42][49] - The current inventory levels of NAND and DRAM are at historical lows, and major manufacturers are prioritizing high-margin products for servers, leading to anticipated price increases of at least 20% for DRAM and NAND products [36][40][58] Semiconductor Testing Equipment - The semiconductor testing machine market is expected to grow significantly, with the global market size projected to reach $9.3 billion in 2025 and $9.77 billion in 2026, driven by the increasing complexity of AI chips and high-performance storage [5][77][81] - The report emphasizes the critical role of testing machines in ensuring the quality and reliability of AI chips, as the demand for high-performance computing continues to rise [59][66][72] Magnetic Components - The shift to 800V HVDC architecture is expected to drive the demand for magnetic components, as traditional power supply structures face limitations under increased power demands [6][30][56] - The report identifies key beneficiaries in the magnetic component sector, including companies like Keli Ke and Jingquan Hua, which are positioned to capitalize on the growing demand for efficient power conversion solutions [6][30]

【12月10日顺络电子透露服务器市场布局及供货情况】12月10日，顺络电子在互动平台称，数据中心是 其新兴战略市场之一。公司凭借小型化、高精度、高功率密度技术优势，从服务器供电架构出发，为客 户提供全电源产品解决方案。随着服务器功耗提升，磁性元件需求大增，公司已向国内头部服务器及海 外头部功率半导体厂商批量供货。当前服务器市场快速成长，但市场空间仍小于消费电子、汽车电子等 领域。 本文由 AI算法生成，仅作参考，不涉投资建议，使用风险自担 和讯猎报 12.10 21:12:15 周三 顺络电子:布局数据中心市场,已向 头部厂商批量供货 【12月10日顺络电子透露服务器市场布局及供货情 况】12月10日,顺络电子在互动平台称,数据中心 是其新兴战略市场之一。公司凭借小型化、高精 度、高功率密度技术优势,从服务器供电架构出 发,为客户提供全电源产品解决方案。随着服务器 功耗提升,磁性元件需求大增,公司已向国内头部 服务器及海外头部功率半导体厂商批量供货。当前 服务器市场快速成长,但市场空间仍小于消费电 子、汽车电子等领域。 和讯财经 和而不同 迅达天下 扫码查看原文 本文由 Al 算法生成,仅作参考,不涉投资建议 ...

公司由国内知名企业管理骨干与资深技术专家联合创立，专注于72.5kV及以上电压等级高压开关与组合 电器的研发、生产及服务，重点聚焦72.5kV至252kV高压开关SF6环保替代技术发展和创新。在研产品 包括145kV SF6组合电器、126kV SF6组合电器、145kV无SF6环保柱式断路器、72.5kV无SF6环保柱式 断路器、145kV 无SF6组合电器等。公司目前正在开展Pre-A轮融资，拟融资3000万元。 ——股权转让—— 项目 公司聚焦工业级、汽车级中小功率电源管理芯片和功率模组，核心产品可适配伺服变频、PLC、BMS 系统等多场景。其产品涵盖变压器驱动器系列 & 桥式整流器系列、反激转换器系列、PWM 控制器系 列、BMS 专用隔离 DCDC 转换器系列、双向 DC-DC 转换器、开关稳压器、线性稳压器、磁性元件等 品类。运营方面，最近三年公司每年收入保持 50% 的增速。 公司由国内知名企业管理骨干与资深技术专家联合创立，专注于72.5kV及以上电压等级高压开关与组合 电器的研发、生产及服务，重点聚焦72.5kV至252kV高压开关SF6环保替代技术发展和创新。在研产品 包括145kV SF ...

Core Viewpoint - The company, Long Magnetic Technology (龙磁科技), emphasizes its competitive advantages in power supply products for computing infrastructure, highlighting superior material properties and environmental adaptability [2]. Group 1: Product Performance - The company reports outstanding performance in material characteristics, such as high-frequency loss control of magnetic cores [2]. - Environmental adaptability is noted, with products capable of operating in wide temperature ranges [2]. - The electromagnetic compatibility (EMC/EMI) of the products has also been validated as exceptional [2]. Group 2: Strategic Focus - The company plans to continue focusing on the demands of computing scenarios to enhance the efficiency and power density of magnetic components [2]. - There is a commitment to support the upgrade of computing infrastructure with stronger product offerings [2].

Core Viewpoint - Shunluo Electronics has achieved mass production and shipment of various AI inductor products using multiple processes, positioning itself at the forefront of the industry amid the TLVR structure iteration trend in AI inductors [1] Group 1: Business Performance - The company has received recognition from several leading power semiconductor clients and end cloud factory customers [1] - In the first three quarters of 2025, Shunluo Electronics experienced rapid business growth [1] - The company is expected to enter an accelerated development phase in the coming years [1] Group 2: Product Offering - Shunluo Electronics has developed a one-stop solution for AI server clients, including AI inductors, tantalum capacitors, and various magnetic component products [1]

Core Viewpoint - The company, Fenghua Advanced Technology Co., Ltd., is expanding its international presence through strategic partnerships with European enterprises, enhancing its supply chain integration in key markets such as Germany, Italy, and France [1][3]. Group 1: Strategic Partnerships and Market Expansion - The company has established strategic collaborations with multiple European enterprises, allowing its products to enter the supply chains of global Tier 1 automotive, home appliance, and photovoltaic energy clients [1][3]. - The company is actively expanding its overseas customer base by upgrading product performance and building international certification systems, thereby improving its capabilities in the European and global markets [3]. Group 2: Product Offerings and Industry Position - Fenghua Advanced Technology is recognized as a leading manufacturer of electronic basic components in China, with key products including chip capacitors, resistors, inductors, and semiconductor devices [3]. - The company has successfully supplied multiple types of capacitors, resistors, and magnetic components to the automotive electronics, energy storage inverters, and high-end home appliance sectors [3]. Group 3: Market Demand and Future Outlook - The demand for automotive-grade electronic components is continuously growing due to the rapid development of the new energy vehicle and energy storage industries [3]. - Industry experts believe that the company's accelerated internationalization will enhance its brand influence and market share, while strengthening its technical foundation in high-reliability components for future product iterations and market expansion [3].

Core Viewpoint - The company Keliqi (002782.SZ) has announced that its magnetic component products can be applied in solid-state battery power systems [1] Group 1 - Keliqi's magnetic components are suitable for use in solid-state battery power systems, indicating potential growth in the electric vehicle and energy storage markets [1]