展望2025年，平安证券认为，一方面，半导体行业作为信息技术产业的基石，对于国家安全和经济发展具有举足轻重的意义，国产化将成为我国半导体市场长期的主旋律；另一方面，智能手机进入存量博弈阶段，折叠屏产品、AI手机、AI PC及AI眼镜等产品正在兴起，有望给产业链带来新的发展机遇，国产化主线将从纯估值驱动逐步转向业绩估值双升的戴维斯双击板块。Chip stocks collectively rose in early trading. As of the report, Semiconductor Manufacturing International Corporation (00981) is up by 7.2%, at HKD 31.3; SOLOMON SYSTECH (02878) is up by 5.26%, at HKD 0.5; HUA HONG SEMI (01347) is up by 4.96%, at HKD 22.2; HG SEMI (06908) is up by 3.39%, at HKD 0.61.
According to Zhitong Finance APP, chip stocks rose collectively in the morning. As of the time of writing, Semiconductor Manufacturing International Corporation (00981) increased by 7.2%, reaching HKD 31.3; SOLOMON SYSTECH (02878) rose by 5.26%, priced at HKD 0.5; HUA HONG SEMI (01347) went up by 4.96%, trading at HKD 22.2; HG SEMI (06908) climbed by 3.39%, now at HKD 0.61.
On the news front, recently, the Semiconductor Equipment and Materials International (SEMI) once again raised its forecast for global chip equipment sales in 2024, estimating an increase of 6.5% to USD 113 billion. The underlying reason is the unexpected investments in AI-related fields in mainland China.
Looking ahead to 2025, Ping An Securities believes that, on one hand, the semiconductor industry, as a cornerstone of the information technology industry, plays a crucial role in national security and economic development, and localization will become a long-term main theme in China's semiconductor market; on the other hand, the smart phone sector is entering a phase of stock competition, with products such as foldable screen phones, AI phones, AI PCs, and AI glasses emerging, which are expected to bring new development opportunities to the industry chain, and the localization main line will gradually shift from purely valuation-driven to a dual boost of performance and valuation in the sector.
