从地产数据来看，房地产销售情况良好，虽然 4 月单月全 国住宅竣工面积有所下滑，但从长期来看，单月的下滑不足以扰动长 期修复趋势。面对原材料价格上涨，龙头企业抵御风险能力更强， 龙头企业一方面积极进行内部管理降费提效，另一方面加快优化产 品结构、提高产品价格以缓解成本上涨压力。

需求：总量无忧，价格博弈影响释放节奏。产业链：组件盈利有望回暖，逆变器龙头盈利乐观。新技术：HJT 研发与产业化持续推进。光伏终端供需僵局有望打破，产业链价格上涨对需求节奏的影响大于对 需求总量的影响，对终端需求无需过度悲观。组件盈利能力有望触底回 升并进入向上通道。

电子行业于 2020Q1-2021Q1 成功实现了疫后业绩的高速增长，板块业绩 位于全行业中部靠前位置。终端智能化趋势加速、疫后云经济发展加速、 半导体国产替代和下游产业需求全面爆发等因素共同带动相关赛道公司 营收和净利润猛增。

Over the last few years, headphones have undergone major technological transformations in their appearance, sound output, portability, and connectivity due to advancements in manufacturing and audio technologies. The evolution of headphones is a form of the mobile revolution that started at the beginning of the millennium, and the trend has continued in terms of minimizing the size while improving the sound quality as well as playback time.

The healthcare information technology sector has been experiencing strong growth in recent years. In specific, global digitization and new technological opportunities have played a major role to drive the growth of the sector. The healthcare IT sector involves a broad range of products and solutions that are widely contributing to more efficient and effective healthcare infrastructure. The industry trends that are fuelling the demand in the healthcare IT industry include artificial intelligence, telehealth services, individualized medical care, virtual reality, automation, and digitalization.

行情回顾：上周（5.10-5.14）计算机行业(中信)指数上涨4.62%，沪深300指数上涨2.29%，创业板指数上涨4.24%。因流动性收紧预期，抱团行情出现一定松动，核心资产开始横盘整理。计算机（申万）指数从去年7 月高点至今，已下跌30%以上，甚至已经低于2020 年初因疫情导致的指数低点。在此背景下，市场出现了明显的游资风格，炒主题炒热点层出不穷，诞生出很多短期牛股。以计算机行业的数字货币概念为例，相关标的短期都出现了大涨行情。