1. The intelligent electrification is irresistible, and the new blue sea of automotive electronics is ready to develop
The cost of electronic components in a single car has increased from about 1% in 1950 to between 20% and 35% at present. Moreover, as a terminal with both scene and mobile features, the car, driven by the energy revolution and intelligence, is expected to relay to smart phones and become a new computing platform.
The era of smart cars has also begun under the background of the era of smart phone stock, and the accelerated penetration of new computing platforms will certainly bring the corresponding prosperity of the electronic industry.
2. The wave of automotive electronics has ushered in new growth momentum for PCB
The old kinetic energy is receding, and the new kinetic energy represented by automobile electron is developing.
We believe that the future will continue to divide, the growth of the global PCB industry to benefit from the runner automotive electronics consumer electronics became the first driving force in the electronics industry, in the field of electronic systems - the mother of PCB, automobile electronic wave will become the future growth of the industry to actively: intelligent electric + + lightweight three driving forces strong upward force, continue to pull the car plate led industry growth.
Optimistic consumer electronics gold 10 years to cultivate PCB advantage companies actively layout car board blue sea market, share the new cycle of gluttonous feast.
3. Embrace the new cycle dividend, and speed up the local advantage PCB manufacturers to catch up
Mainland PCB manufacturers are in the right place at the right time: tesla breaks the traditional automobile supply chain pattern and gradually opens the supply chain system, providing the best time for mainland manufacturers to enter the market.
The focus of the global automobile industry has gradually shifted to mainland China, and customer accumulation has gradually formed.
Through ten years of accumulation of consumer electronics gold, local manufacturers are ready for technology, manufacturing process, customers, lean production and other aspects. It is a healthy way for fast fish to eat fish to cut into the automobile industry chain.
We believe that the local superior manufacturers are fully capable of copying the jingpeng model, completing the gorgeous upgrade from consumer electronics to automotive electronics and speeding up overtaking in the wave of automotive electronics.
4 investment Suggestions
In this round of automotive electronics wave, we are optimistic that local high-quality PCB manufacturers with strong technology accumulation and the first to distribute automotive electronics will take the lead in sharing the dividend of this new cycle of automotive electronics and complete the upgrading and shifting of growth momentum.
Advice to focus on ultrasonic electronic (high-order advantage of HDI manufacturers, focusing on automotive electronics, automobile and onboard display touch PCB two-wheel drive), in accordance with the meal electronics (domestic automobile PCB, capacity expansion of focus car plate market), dongshan precision (new blue ocean deep FPC automobile application) and JingWang electronics (PCB whole category covers, actively develop automobile electronic niche market).
Risk of new energy vehicle penetration rate falling short of expectations, risk of ADAS penetration rate falling short of expectations, risk of replacement of new technology, risk of increased industry competition.