Hongzhou Weekly Author | Wang Xiaoming
Recently, the semiconductor sector has stirred up another wave in the secondary market, with third-generation semiconductors becoming the focus of investors. As a result, Invesco Fund, a popular fund like this, has become a type of fund with rapidly growing net asset value in the short term.
The logic of price hikes outweighs material iteration.
From the perspective of supply and demand, there is a huge surge in demand for new energy vehicles, 5G-related MCUs, power devices, analog chips, storage, and other technologies. At the same time, due to the competition between China and the United States in technology and various impacts on the industry chain, domestic expansion and overseas semiconductor equipment delivery cycles are generally prolonged or facing uncertainties. Therefore, the structural tension in semiconductor production capacity is likely to continue in the future.
Taking the new energy vehicle sector as an example, in the first quarter of 2021, China sold a total of 0.43 million new energy vehicles, doubling from 2019. Pure electric vehicle models accounted for 84% of the total new energy passenger vehicles. As a core component of the electric drive system, the growth of the new energy vehicle market will drive the demand for power semiconductors. There is a vast market space for power semiconductors, and domestic manufacturers have also started expansion plans. Driven by strong demand, in addition to power semiconductors mentioned above, the global semiconductor design, packaging, testing, and equipment industries will experience rapid growth.
In terms of holdings, Yinhechuangxin and Noan Growth have certain differences. Noan Growth focuses more on the high-profit, high-indigenization design sectors of the semiconductor industry chain; Yinhechuangxin considers short-term growth certainty more, and has increased its holdings in Naura Technology Group and Hangzhou Silan Microelectronics. Among them,...