Source: PCB china.com

With the gradual recovery of the global economy, semiconductor, TFT-LCD, PCB and other major industries are growing well. According to the cyclical law of the electronics industry, we expect that the electronics industry will show a sustained growth momentum in the next few years.

Emerging fields are in full bloom.

After each economic crisis, high-tech technologies in emerging fields lead the economic recovery. At present, with the acceleration of economic recovery, led, touch screen, OLED, 3D display technology, electronic paper and other new application fields have become hot spots in the market, and will grow rapidly in the future.

Strong demand for end products.

After the adjustment of the financial crisis in 2009, mobile phones, PCs, LCD TVs and other terminal consumer goods began to come out of the trough one after another, and the demand turned to exuberant. In 2010, the growth rates of mobile phones, PCs and LCD TVs are expected to reach 13%, 20% and 22% respectively.

The export situation continued to improve.

Since the second half of 2009, the export of segmented products in the electronics industry has improved month by month. Capacitors, resistors and inductors are the products whose export situation has improved rapidly. PCB, connectors and electroacoustic devices have recovered well. The recovery of magnetic materials was slow in 2009, but the recovery speed was significantly accelerated in January 2010.

Investment strategy - pay equal attention to performance and growth.

With the steady recovery of the global economy, the export situation of the electronic industry continues to improve, and new application fields continue to be developed. We expect that the electronic components industry will enter a new high growth stage, and there will be certain investment opportunities in all sub industries. The sub industries with accelerated recovery and emerging fields in the introduction period will show higher growth. In terms of investment strategy in the second quarter of 2010, we focus on two main lines: one is the strong expectation of performance growth, and the other is the large growth space of the industry. Considering the current valuation of individual stocks, we recommend Guangzhou Guoguang, ultrasonic electronics, Laibao high tech, Hengdian dongci and farad electronics.

Risk tips:

The risk of rising raw material prices and the risk of RMB appreciation.