Jingu Financial | HTSC issued research reports pointing out that the fundamentals of consumer electronics are basically stable and improving. In terms of the Android industry chain, according to IDC, the global shipment volume of smart phones in 2Q24 reached 0.285 billion units, an increase of 6.49% year-on-year. The bank expects a 5% year-on-year increase in global Android phone shipments in 2024. The industry chain as a whole is stabilizing, and GUI and other AI interactive functions are expected to gradually land.

Hong Kong stock targets include Xiaomi Group (01810), Sunny Optical Technology (02382), Q Tech (01478). In terms of the Apple industry chain, the bank observed that Apple's iOS system has been continuously upgraded since October, AI is expected to change the way of interaction, and it is optimistic in the long term that the fruit chain will benefit from the AI trend. Related industry chain targets include Cowell (01415), AAC Tech (02018), BYD Electronic (00285), FIT Hon Teng (06088), etc. In terms of PCs, the bank noted that Qualcomm/MediaTek and others continue to introduce AI processors. According to Canalys, the global penetration rate of AIPC in 2Q24 has reached 14%. It is expected that global AIPC will have a large volume next year. Hong Kong related targets include Lenovo, etc.