電子行業(yè)2019年中期策略擁抱科技，把握變 局

1、2019年7月5日目錄目錄1前言前言..........................................................................................................................................................................................................

2、......................................................525G：5G商用序幕拉開，新一輪商用序幕拉開，新一輪創(chuàng)新周期開啟周期開啟............................................................................................63半導體：受益半導體：受益國產(chǎn)替代，科創(chuàng)產(chǎn)替代，科創(chuàng)板推動價值重估動價值

3、重估......................................................................................184消費電子：智消費電子：智能手機創(chuàng)新持續(xù)手機創(chuàng)新持續(xù)，穿戴產(chǎn)品持續(xù)增長戴產(chǎn)品持續(xù)增長....................................................................275安防：雪亮安防：雪亮工程加速，加速

4、，AI助力安助力安防市場持續(xù)成長市場持續(xù)成長..........................................................................326風險提示風險提示.................................................................................................................

5、.......................................................................................................................34生益科技...............................................................................................

6、...................................................................36滬電股份...................................................................................................................................................

7、...............38華正新材..................................................................................................................................................................40兆易創(chuàng)新...............................

8、...................................................................................................................................42圣邦股份...................................................................................

9、...............................................................................44紫光國微.......................................................................................................................................

10、...........................46聯(lián)創(chuàng)電子..................................................................................................................................................................48京東方Ａ...................

11、...............................................................................................................................................50歌爾股份.......................................................................

12、...........................................................................................52TCL集團..........................................................................................................................

13、........................................542019年7月5日圖表圖表34.2019年以來臺灣半導體指數(shù)走勢年以來臺灣半導體指數(shù)走勢......................................................................................................................................

14、............22圖表圖表35.申萬半導體指數(shù)走勢申萬半導體指數(shù)走勢.....................................................................................................................................................................................

15、...........22圖表圖表36.國內(nèi)集成電路進口金額國內(nèi)集成電路進口金額....................................................................................................................................................................................

16、..23圖表圖表37.全球主要終端公司芯片采購情況全球主要終端公司芯片采購情況..................................................................................................................................................23圖表圖表38.國內(nèi)集成電路進口金額國內(nèi)集成電路進口金額......

17、................................................................................................................................................................................24圖表圖表39.科創(chuàng)板推進歷程科創(chuàng)板推進歷程.....................

18、.............................................................................................................................................................................................25圖表圖表40.科創(chuàng)板申報半導體企業(yè)營收和凈利潤情況科創(chuàng)板申

19、報半導體企業(yè)營收和凈利潤情況............................................................................................................25圖表圖表41.華興源創(chuàng)的發(fā)行價及市盈率華興源創(chuàng)的發(fā)行價及市盈率.................................................................

20、...................................................................................................26圖表圖表42.2019年智能手機出貨量情況年智能手機出貨量情況........................................................................................

21、............................................................................27圖表圖表43.三星三星、OPPO、小米三攝手機、小米三攝手機................................................................................................................

22、................................................28圖表圖表44.三攝滲透率三攝滲透率.........................................................................................................................................................

23、...........................................................................28圖表圖表45.OPPO潛望式長焦鏡頭潛望式長焦鏡頭......................................................................................................................

24、....................................................................28圖表圖表46.光學屏下指紋識別原理光學屏下指紋識別原理...........................................................................................................................

25、...........................................................29圖表圖表47.超聲波屏下指紋識別技術超聲波屏下指紋識別技術..................................................................................................................................

26、..........................................29圖表圖表48.MWC2019上海展上高通的超聲波屏下指紋解決方案上海展上高通的超聲波屏下指紋解決方案........................................................................29圖表圖表49.華為華為5G折疊手機折疊手機MateX..........................

27、............................................................30圖表圖表50.三星三星GalaxyFold折疊手機折疊手機.................................................................................................................................

28、...........................................30圖表圖表51.蘋果各財季收入構成情況（百萬美元）蘋果各財季收入構成情況（百萬美元）......................................................................................................................30圖表圖表52.Applewa

29、tch出貨量出貨量........................................................................................................................................................................................................31圖表圖表53.安防

30、板塊安防板塊201419Q1營收及增長率營收及增長率............................................................................................................................................32圖表圖表54.安防板塊安防板塊201419Q1歸母凈利潤及增長率歸母凈利潤及增長率...........

31、.....................................................................................................32圖表圖表55.2018年2019年6月雪亮工程招標統(tǒng)計（萬元）月雪亮工程招標統(tǒng)計（萬元）.........................................................................