Consumer electronic products have a well-established market both domestically and in terms of export demand. The country has a well-developed semiconductor market which during the pandemic was unable to operate to its full potential. Malaysia is crucial in the outsourced assembly, packaging, and testing market, as well as in the automated test equipment businesses. Companies such as Dell, HP, and Intel have their manufacturing centre in Malaysia. Some of the audio visual products produced in Malaysia include radios, speakers, and TV sets, and major vendors include Panasonic, Samsung, and Sony. The Malaysian market, even though small, is an important manufacturing hub for global consumer electronics supply chain, local manufacturing players are more affected by global demand than domestic demand.

Profession AV solutions, often known as pro AV equipment, are systems that, among other things, send multiple high-quality live audio and video signals that are uncompressed to many devices. Live events, broadcast facilities, business installations, and recording and post-production all require pro AV equipment. The backbone of every pro-AV system, whether fixed or portable, are pro speakers equipment and solutions. In recent years, the introduction of cloud and softwarebased applications has resulted in a significant shift in audio-visual (AV) technologies. Advanced AV solutions are expected to assist global businesses in achieving seamless business communication and cooperation. System integrators and channel partners, on the other hand, are seeing a lot of income potential in the burgeoning worldwide enterprise AV industry.

我国东数西算战略、美国对英伟达高算力芯片的禁运均指向了被市场忽略的概念——算力。为什么我们当前重视算力革命？如何看待这场IT 变革？

上游景气赛道表现亮眼，中游制造端承压，下游消费逐步恢复。上游电子化学品、半导体设备/材料、分立器件受益于国产化替代、晶圆产能扩张和汽车、新能源等新兴增长极驱动，业绩高增；中游元件、光学光电子等低壁垒高产能的传统产业遭受上游原材料涨价和下游消费疲软双向夹击，业绩显著下滑；下游消费电子在Q1 业绩触底后，Q2 基本面已有所恢复。

半导体零部件种类繁杂，构成百亿美元市场空间。半导体设备结构复杂，体积庞大，集成度高，由种类繁多的零部件组成，而有别于传统机械零部件，半导体零部件在材料、结构、工艺、品质、精度、可靠性、稳定性等各方面都面临更高的技术标准。

根据Omdia数据，7月全球大尺寸LCD面板月度营收48.80亿美元，环比下降4.26%，同比下降35.65%，其中京东方、TCL华星、友达、群创大尺寸LCD面板月度营收分别同比下降39.27%、32.61%、51.74%、55.45%；LG大尺寸LCD面板月度营收同比增长3.53%。

传统域名市场饱和，Web3 域名满足用户新需求。域名市场在过去20 年增长迅速，但目前已经接近饱和。2020 年全球域名注册市场规模为3.74 亿个，同比增长0.7%，我国域名注册市场规模达4300.8 万个。而在Web3 领域另一种域名正在兴起，Web3 域名在映射对象、解析方式、记录方式和生态发展上都和DNS 域名有所区别。Web3 域名为钱包地址提供可读性名称，而这是传统域名无法满足的需求。

8 月我国新能源汽车销售创同期历史新高。2022 年8 月，我国新能源汽车销售66.6 万辆，同比增长107.48%，环比7 月增长12.31%，8 月月度销量占比27.95%，销量及月度占比持续创同期新高，增长主要与各地政府稳增长政策出台、消费者认同度显著提升等有关。2022 年7 月，我国动力电池装机24.18GWh，同比增长114.19%，其中三元材料占比40.68%；宁德时代、比亚迪和中创新航装机位居前三。

市场方面，上周通信（申万）指数上涨0.47%，同期沪深300 上涨1.74%，创业板指上涨0.60%。根据我们的梳理，2Q22 通信行业营收延续稳健增长态势，板块盈利能力有所提升，其中，光模块/通信模组等子板块在下游需求驱动下实现快速增长。展望下半年，我们建议关注通信板块优质长赛道投资机遇，重点推荐运营商、物联网、军工通信、激光、光模块等。建议关注：中兴通讯、中际旭创、中天科技、长光华芯、威胜信息、拓邦股份、和而泰、华工科技、亿联网络、七一二、 上海瀚讯、海格通信、中国移动、中国电信、中国联通。