对计算机行业 208 支个股的 2020 年中报业绩进行分析，发现在 H1 整体营 收持平、利润承压之下，仍有现金流改善。而 Q2 环比改善爆发力更强，增 长占比较往年更胜两成。细分板块表现各异，AI 和云等相对较好。

The global smart kitchen appliances market comprises major companies providing smart appliances that have a variety of specifications which include voice assistance, AI/Internet of Things integration, and app controlling features, among others. These are traditional appliances which are been combined with technologies, to aid and provide guidance for kitchen management and cooking in order to make the environment safer for the consumer. The kitchen appliance manufacturers offer a range of smart products to suit the customers’ needs. This varied range of market participants provides opportunities to other players willing to bear the high risks involved in the industry. This chapter provides the latest strategies and developments adopted by the key market players in the global smart kitchen appliances market. In order to lead the market as well as engage in the process of market growth, a company needs to work in collaboration with the top market leaders, acquire the companies with less capital to expand, bring new products and services to the market, and improve the existing products.

前期估值推升后进入调整期 行业走势弱于市场整体：2020 年8 月国内A 股市场的申万电子行业一级指数下跌1.3%，位列第25 位，跑输沪深300 指数3.9个百分点，整体走势弱于大市。8 月半导体板块在前期估值推升的情况下进入调整期，消费电子受信息面的影响波动较大。海外市场方面，香港和美国科技板块上涨，而台湾科技业指数小幅下跌。

iPhone 大年叠加可穿戴，苹果产业链持续向好消费电子：5G 催化高存量iPhone 用户升级换机，可穿戴设备快速渗透iPhone 大年高确定性，苹果产业链持续向好：iPhone 存量用户达3.5 亿，其中iPhone6&7 系列占比近50%，此类用户一次升级到5G 的需求强烈，预计整体升级换机比例较高。

Smoke detectors assist in detecting fire outbreak in the building, which reduces the risk of hazards caused by accidental fires. This prevents the loss of life and property, by alarming the occupants to escape the situation. The report on the global smoke detector market presents a detailed analysis of the trends, future estimations, and thorough study of the market based on product type, installation type, end user, and region. On the basis of product type, the market is fragmented into ionization smoke detectors, photoelectric smoke detectors, dual sensor smoke detectors, and others. Based on installation type, it is categorized into hardwired and batteryoperated smoke detectors. By end user, the market is classified into commercial, manufacturing, residential, automotive, telecommunications, oil, gas & mining, and others. The market is analyzed across North America, Europe, Asia-Pacific, and LAMEA to understand their regional trends. This report highlights the drivers, restraints, opportunities, and growth strategies adopted by key players to understand the dynamics and potential of the market. The study includes Porter’s five forces analysis of the industry to determine the impact of suppliers, competitors, new entrants, substitutes, and buyers on the market growth.

半导体行业：全球半导体行业景气持续上升，北美半导体设备出货增加明显，8 寸晶圆厂产能满载，下游行业需求逐步复苏。中美贸易摩擦持续，美国商务部工业和安全局(BIS)进一步收紧了对华为获取美国技术的限制，科技博弈成为长期议题，国产替代始终为半导体行业发展主线。

快充走向百瓦时代：手机功耗提升和手机电池容量受限催生快充解决方案，通过充电头/电池/数据线及接口三方配合，快充已由过去传统高压低电流和低压高电流方案，走向高电流高电压融合方案，OPPO/VIVO/小米均于今年7月推出百瓦以上快充。此外，主流厂商通过GaN开关、平板变压器等使快充变得更便携，通过VC液冷散热、石墨烯、高导散热凝胶等使快充变得更安全。

电子行业2020H1 回顾。2020H1 全行业（A 股）298 家公司收入为8724.02亿元，同比增长5.9%；全行业归母净利润为537.36 亿元，同比增长14.0%。电子行业各个子行业增速情况为：（1）半导体收入+29.0%，净利润+57.9%；（2）消费电子收入+12.9%，净利润+29.3%；（3）面板收入-11.2%，净利润-61.2%；（4）元件收入+3.4%，净利润-0.5%；（5）PCB 收入+2.9%，净利润+13.2%；（6）安防收入-2.4%，归母净利润+4.4%；（7）LED：收入-15.0%，净利润-35.2%；（8）汽车电子：收入+20.0%，归母净利润+182.8%。

半导体存储器件是半导体行业市场占比最高的分支，总计市场规模在1000亿美元以上，近几十年以来市场规模一直在波动中上行。