Huatai Securities released its 2026 annual outlook for the electronics industry, which indicates that the electronics industry will continue to rise in 2025, driven by AI chain-leading innovation and the continued recovery in demand for downstream terminals. Looking ahead to 2026, it is recommended to focus on several directions: 1) Continue to be optimistic about the storage cycle. Price increases are driven by AI data centers or have a certain degree of sustainability. Domestic memory chips and supporting links are expected to benefit; 2) Be optimistic about the accelerated implementation of ASIC, the world's leading CSP factory, to drive the PCB and other computing power industries The high-end chain continues to evolve; 3) Domestic foundry and storage IDM production expansion is expected to accelerate in 2026, while technology nodes are moving towards advanced processes and 3D stacking, and upstream domestic equipment vendors will benefit simultaneously; 4) Consumer electronics end-side AI product innovation or accelerated switching cycles will benefit the industrial chain.

Huatai Securities released its 2026 annual outlook for the electronics industry, which indicates that the electronics industry will continue to rise in 2025, driven by AI chain-leading innovation and the continued recovery in demand for downstream terminals. Looking ahead to 2026, it is recommended to focus on several directions: 1) Continue to be optimistic about the storage cycle. Price increases are driven by AI data centers or have a certain degree of sustainability. Domestic memory chips and supporting links are expected to benefit; 2) Be optimistic about the accelerated implementation of ASIC, the world's leading CSP factory, to drive the PCB and other computing power industries The high-end chain continues to evolve; 3) Domestic foundry and storage IDM production expansion is expected to accelerate in 2026, while technology nodes are moving towards advanced processes and 3D stacking, and upstream domestic equipment vendors will benefit simultaneously; 4) Consumer electronics end-side AI product innovation or accelerated switching cycles will benefit the industrial chain.