On January 16, the semiconductor plate rose collectively. By the end of the day, Yingjicore rose more than 11%, Xinpeng rose more than 10%, Yingfang rose slightly, waveguide shares, Weir shares, Siyuan Electric were all up more than 8%, and Zhuosheng Micro, Jingfeng Mingyuan and Jevatt were all up more than 7%.
In terms of ETF, chip ETF leader, semiconductor ETF and chip ETF all rose by more than 3%, while chip leader ETF, chip 50ETF, and science chip ETF all rose one after another.
On the news, on the evening of January 13, Weier shares, a leading semiconductor company, disclosed its performance forecast that the net profit attributable to shareholders of listed companies is expected to be 800 million yuan to 1.2 billion yuan in 2022, down 73.19% to 82.13% compared with the same period last year. After deducting non-recurring profits and losses, the company expects to achieve net profits attributable to shareholders of listed companies of 90 million yuan to 135 million yuan in 2022, a decrease of 96.63% to 97.75% compared with the same period last year.
For the sharp decline in performance, the company explained that due to the global COVID-19 epidemic, geopolitical tensions, the overall poor performance of the consumer electronics market and other factors, the demand for consumer electronics represented by smartphones was strongly impacted, and it also had a greater impact on the company's main business. Shipments in some market segments declined, and product sales prices were under pressure. The company's revenue scale and product gross profit margin have declined compared with the previous year.
At the beginning of the collective bidding on January 16, Weir shares were directly blocked by the limit. Since then, Weier shares opened at 81.33 yuan, but its shares rose sharply after the opening, rising more than 10% in intraday trading. As of today's close, Weir shares rose 8.15% to 91.25 yuan.
Net profit has dropped sharply, but share prices have unexpectedly risen, and many investors are "ignorant". Some investors think, "this is called profit empty out, now speculation is the performance of next year, if thanks to hundreds of millions of dollars, has now risen by the limit, the stock market is so magical."
In 2022, semiconductors have entered a downward cycle, and the prosperity of the electronics industry is under pressure. But even so, money continues to pour into the chip ETF, trying to copy the bottom of the chip sector.
Huaxia Guozheng semiconductor chip ETF is the only chip field ETF product with a scale of more than 20 billion on the market. Data show that the share of the ETF fund increased by 9.664 billion shares in 2022.
The second and third largest in the market, Guolian Anzhong Securities all refers to semiconductor ETF, Cathay Pacific CES semiconductor chip ETF, both of which are between 100 and 20 billion yuan, and the share of ETF funds increased by 9.988 billion and 6.004 billion respectively in 2022.
China International Capital Corporation said that the current semiconductor cycle is in the "active inventory" stage, is still in the "bottom" process, the current round of semiconductor cycle or bottoming out in 2Q23-3Q23. In the medium and long term, the driving force of semiconductor demand growth will shift from consumer electronics represented by mobile phones and PC to AIoT, electric vehicles, servers, new energy, industry and other fields, and a new round of chip design innovation cycle and domestic substitution cycle is expected to open.
Guoxin Securities said that after continuous terminal destocking in the past year, downstream inventories in the consumer electronics industry are now at a low level and the industry has entered a weak recovery cycle. global smartphone shipments are expected to recover in 23 years after 22 years of overfall. At the same time, the valuation of the consumer electronics sector is at 0.7% in the past five years, with low valuation and high allocation value.
Dongguan Securities pointed out that the prosperity of the electronics industry is under pressure in 2022, and the trend of various fine molecular sectors is not satisfactory, especially the flagging demand for consumer electronics represented by smartphones, affecting the overall demand of the industry. At present, global smartphone terminal manufacturers are in the stage of destocking, and the fundamentals of the sector have entered the bottom area, while domestic epidemic policy changes are also expected to release the consumption potential of residents, and smartphone sales data are expected to pick up in 2023. Looking forward to 2023, domestic substitutions in the fields of semiconductor equipment / materials and high-end electronic components will continue, while terminal innovations such as AR/VR and automotive electronics will also continue to advance, and the electronics industry is expected to usher in a better long-term layout time. It is suggested that we should grasp the investment opportunities from the aspects of downstream recovery, domestic substitution and terminal innovation.