Core Viewpoint - The article discusses the recent price increases in passive components, particularly focusing on Taiwanese resistor manufacturers joining the trend, driven by rising raw material costs and increased demand from AI applications [3][4][13][15]. Group 1: Price Increases from Taiwanese Manufacturers - Taiwanese passive component manufacturers, including Yageo, Thick Sound, and Walsin, have announced price hikes for various resistor products, with increases ranging from 15% to 25% [5][6][7]. - Yageo's price adjustments will take effect from February 1, covering specific resistor products like RC0402, RC0603, and others [5]. - Thick Sound and Walsin have also issued price increase notifications, indicating a collective movement among Taiwanese manufacturers to raise prices due to rising material costs [6][7]. Group 2: Market Reactions and Trends - Following the announcements, the passive component market experienced a temporary halt in quotations and price increases, but most channels have since returned to normal pricing [9][10]. - The overall price of resistors has increased by approximately 10-20% since the New Year, particularly for sizes 0201 to 1206, with fluctuations stabilizing after initial increases [10][11]. - Distributors have noted that the initial price hikes did not significantly impact the market, as many customers had already begun stockpiling components prior to the announcements [11]. Group 3: Underlying Causes of Price Increases - The primary reasons for the price hikes include rising raw material costs, particularly for metals like silver, palladium, and others, which have seen significant price increases [13][14]. - Additionally, the surge in demand driven by AI applications has contributed to the rising prices of passive components, with projections indicating a substantial increase in demand for components like MLCCs in AI servers [15][16].

Q&A 如何看待本轮被动元器件涨价行情？20260125 摘要 被动元器件市场几乎全品类涨价，包括电容、电阻、二极管、电感和磁 珠等，覆盖市场大部分份额，主要受原材料通胀驱动，与 2017-2022 年人为控盘不同，本次各方表现更为理性，未出现大规模囤积。 涨价传导分层明显：贸易商随行就市，中小型终端客户承受 30%-40% 涨幅，大型客户因长期合同受影响较小，涨幅低于 10%。 MLCC 虽未正式提价，但高容产品价格已上涨，原厂态度谨慎，避免重 蹈覆辙。渠道商采取减少出货量策略，优先满足高价需求。 MLCC 市场格局稳定，村田、三星、国巨和三环占据 80%份额。村田和 三星减产提门槛，三环则采取扩充代理及营业额目标策略，暂不涨价以 抢占市场份额。 下游需求方面，存储器件受益于 AI，价格大幅上涨，但对整体毛利影响 有限。各行业心态谨慎，按订单生产，避免过度备货。 国产替代加速，客户从不接受到主动要求性价比更高的国产品牌，如潮 州三环，表明国内厂商市场份额提升。 未来元器件价格走势取决于原材料价格，银、铜等价格上涨将推高成本。 AI 眼镜领域可能成为新的增长点，但整体市场需求仍以稳定为主。 当前被动元器件涨价 ...

Core Viewpoint - The passive component market is experiencing a price increase and order suspension due to rising demand and material costs, particularly in resistors and capacitors, driven by AI and other technological advancements [4][20]. Group 1: Market Situation - Before the New Year, many passive component manufacturers issued price increase notices, leading to a suspension of quotes and orders in the market [4][6]. - Distributors reported that the main reason for suspending quotes was the uncertainty of price increases from manufacturers, which could render pre-holiday quotes ineffective [6][9]. - After the New Year, most channels resumed normal quoting, but some specific models remained in short supply, causing continued order suspensions [6][9]. Group 2: Price Changes - Resistors have seen significant price increases, with some models rising by 10-30%, while capacitors experienced more moderate increases, particularly in high-demand types like polymer tantalum capacitors [7][9]. - The price of magnetic beads and inductors has also risen significantly, reflecting broader trends in the passive component market [8][9]. Group 3: Causes of Price Increases - The current price surge is attributed to two main factors: rising raw material costs, particularly for precious metals like silver, and increased demand driven by AI technologies [15][16]. - Silver prices surged by 143% in 2025, significantly impacting the cost structure of passive components, especially inductors [16][17]. - The rapid growth in AI demand is pushing the need for high-end components, further driving prices up [18][19]. Group 4: Future Outlook - The demand for passive components is expected to remain stable in 2025, with significant increases in AI-related applications, particularly for MLCCs [9][20]. - The market is likely to see a structural differentiation where high-end products maintain stable growth while standard consumer-grade components may struggle [19][20].

Core Viewpoint - The article discusses the recent price increases announced by Yageo Corporation (国巨) for certain passive components, particularly resistors, due to significant cost increases in chip product lines, especially precious metals like silver, ruthenium, and palladium [3]. Group 1: Price Adjustments - Yageo has decided to raise prices for some resistor products by approximately 15-20%, effective February 1 [3]. - Major passive component distributors in mainland China have also received notifications regarding price increases, with a 15% hike on products such as 0402 to 1206 thick film resistors starting January 26 [3]. - The company has previously adjusted prices for specific tantalum capacitors and magnetic beads, indicating a broader trend of price increases across its product lines [3]. Group 2: Market Context - The price adjustments are attributed to the significant rise in costs associated with chip production, particularly due to the soaring prices of precious metals [3]. - Yageo emphasizes its commitment to long-term partnerships with customers, ensuring reliable supply, excellent product quality, and competitive comprehensive solutions despite the price hikes [3].

Core Viewpoint - The price adjustment of tantalum capacitors by Yageo has led to a ripple effect in the market, with its subsidiary PULSE announcing price increases for certain ferrite bead products starting January 1, 2023, due to high raw material costs and increased demand for high-frequency applications [1][2]. Group 1: Price Adjustments and Market Dynamics - Yageo's PULSE brand is adjusting prices for specific ferrite bead products, effective January 1, 2023, due to sustained high costs of key raw materials, particularly silver [1]. - The price of silver has surged significantly, with NIMEX silver futures recently reaching $73.02 per ounce, marking a 143% increase for the year 2025, which has put substantial pressure on the cost structure of passive component manufacturers [1]. - The adjustment in prices is seen as a necessary measure for manufacturers to maintain product quality and supply stability while continuing to invest in capacity and technology [1]. Group 2: Industry Position and Future Outlook - Yageo's revenue from magnetic components accounts for approximately 27% to 28% of its total revenue, with a strong market position in inductors and automotive-grade magnetic components, ranking third globally [2]. - Competitor Walsin Technology, another significant supplier of ferrite beads, is also expected to consider price adjustments due to rising demand in automotive electronics, AI servers, and high-speed computing [2]. - The passive component industry is entering a new phase of price adjustments, supported by high raw material costs and steady demand from end applications, which is expected to positively impact the revenue and profitability of major suppliers like Yageo and Walsin [2].

Core Viewpoint - Murata Manufacturing Co., Ltd. is leveraging its leadership in passive components, particularly MLCCs, to explore new markets and upgrade its products in response to the growing demand driven by artificial intelligence and cloud computing [2][4]. Group 1: Market Opportunities - The global optical module market is expected to grow at an annual rate of 30-35% from 2025 to 2026, driven by AI cluster construction [4]. - Murata's products, especially MLCCs, are anticipated to see significant usage increases in AI PCs, with a focus on maintaining and enhancing market share [4][5]. - The company is closely monitoring market demands and technological trends, particularly the impact of TLVR technology on its products [4][5]. Group 2: Product Innovations - Murata showcased a range of products at the optical communication exhibition, including high-density multilayer ceramic capacitors (MLCCs) with superior electrical characteristics and compact designs [8][11]. - The company introduced ultra-wideband silicon capacitor products capable of supporting bandwidths up to 220GHz, utilizing advanced 3D structures to enhance capacitance within a small footprint [11][12]. - Murata's silicon capacitors are designed for high reliability and performance, with a focus on customization to meet diverse customer needs [12]. Group 3: Power Solutions - The company has developed innovative power chip solutions to address the growing energy efficiency demands of data centers, featuring a two-stage architecture to reduce power loss and enhance system reliability [13]. - Murata's thermal resistors are compact and responsive, suitable for temperature detection and protection in optical modules and data centers, with applications in automotive electronics and medical devices [13]. Group 4: Strategic Vision - Murata emphasizes its commitment to innovation and strategic collaboration within the industry to drive optical communication technology advancements and industry upgrades [14].

Company Overview - Shenzhen Sunlord Electronics Co., Ltd. was established in 2000 and listed in 2007 (stock code: 002138), specializing in the R&D, production, and sales of various chip electronic components [2] - The company offers products in four major categories: magnetic devices, microwave devices, sensitive devices, and precision ceramics, which are widely used in communications, consumer electronics, computers, automotive electronics, new energy, network communication, and industrial electronics [2] Achievements and Certifications - Sunlord Electronics has received numerous honors, including National Enterprise Technology Center, Manufacturing Single Champion Demonstration Enterprise, and recognition as a Green Factory [4] - The company emphasizes product quality and sustainable development, with certifications such as ISO14001, IECQ/QC080000, IATF16949, and AEC-Q200, reflecting its commitment to high standards and product safety [4] Automotive Electronics Sector - As a leading enterprise in the domestic automotive magnetic device sector, Sunlord has been deeply involved in the automotive electronics industry for 16 years, establishing an automotive electronics division in 2016 [6] - The company has built over 100 production lines for automotive-grade components and has completed IATF16949 certification in six of its eleven global production bases [6] - Sunlord's automotive electronics applications include vehicle lighting, BMS, intelligent driving, smart cockpits, T-box & V2X, OBC, DC/DC converters, electric drive control, hybrid systems, and thermal management systems, with main products including EMC components, inductors, transformers, magnetic beads, thermistors, LTCC, and power devices [6] Future Focus - With 25 years of experience in the electronic components industry, Sunlord aims to continue focusing on technological innovation to provide higher quality products and services to its customers [10]