Increase the price by 50%! International electronic components giant fierce price hike, concept stocks full analysis, 11 shares most benefited (with shares)
Original Wang Linpeng data treasure, February 20
Data is a treasure
Data bank
Less worries about stocks
It is expected that the supply of passive components will still be in short supply before the end of the first quarter. As a result, the prices of resistors and capacitors will rise, which will directly benefit practitioners such as passive component manufacturers.
According to supply chain sources, Guoju electronics, the leader of passive components, plans to increase the price of multilayer ceramic capacitors (MLCC) from 30% of the original plan to 50% considering that the actual output is less than expected. In addition, the price rise of chip resistance has also been increased to 50%, effective from March.
Industry insiders believe that at this stage, the inventory level of passive components is too low, the demand is higher than the supply, and the manufacturers have regained the dominant power. The 50% increase is also the biggest increase in the price of passive components since it stopped falling and stabilized last year.
The market gap of passive components is large
Passive components, also known as passive devices, refer to the circuit components that do not affect the basic characteristics of signals, but make signals pass without changing. The most common ones are resistance, capacitance, inductance, etc., which are mainly used in consumer electronic products. As the performance of electronic products is getting higher and higher, the demand for passive components has also stepped up. In addition, 5g, fingerprint unlocking and other emerging functions have greatly promoted the demand for passive components.
In terms of market size, the passive component market reached US $24.24 billion in 2016, and is expected to reach US $328.9 billion in 2021, with a compound growth rate of 6.29%. With the gradual implementation of various avant-garde functions such as 5g, VR, AI, etc., the market space of passive components in the future will obtain multiple growth. 5g mobile phones use more than 1000 passive components, an increase of 20% to 30% compared with 4G mobile phones.
The output of passive components does not increase continuously, but may decrease. The novel coronavirus pneumonia has been tight in the fourth quarter of last year. The new crown pneumonia epidemic affects the resumption of production of passive components plants, while the finished product inventory of ODM / OEM plants and systems factories downstream continues to decline.
The unit price of passive components is low, which accounts for a very small proportion of the cost of end products, and the price rise will not be subject to too much pressure from downstream. In order to obtain the material source, the client will accept the price increase, and will not adjust the product price due to the price rise of passive components.
The world's major passive component manufacturers have production bases in the mainland, mainly concentrated in the coastal areas of East China and South China. Industry insiders estimate that MLCC capacity in Jiangsu, Hebei, Guangdong and other places accounts for about 30% to 40% of the global supply. The novel coronavirus pneumonia affects transport and staff turnover rate, resulting in MLCC supply far below the terminal product demand.
After the factories in mainland China resumed work, orders for purchasing and replenishing inventory of components have been flying, and urgent orders for key components have sprung up. Passive components are still unable to supply at full capacity in the short term, and the gap between supply and demand is growing. It is expected that the supply of passive components will still be in short supply before the end of the first quarter. As a result, the prices of resistors, capacitors, etc. will rise, and the manufacturers of passive components will benefit directly.
Prices of passive components rise again and again
Guoju electronics is currently the world's largest chip resistor supplier, accounting for 34% of the market. At the end of last year, Guoju announced the acquisition of Jimei, a passive component manufacturer in the United States, and became one of the top three passive component suppliers in the world. Its price increase has a great impact on China and may cause many passive component manufacturers to follow up.
Since the second half of last year, on the one hand, the process of product price bottoming has been completed; on the other hand, the demand for 5g and automatic driving is high and the supply is tight. MLCC manufacturers have been publicizing the news that MLCC is out of stock and the price is going to rise.
At the end of November last year, Dayi technology, a passive component manufacturer, took the lead in saying that it had completed the price increase action for its resistor products. At the same time, Guoju closed the trading system to clear the unfinished orders and unconfirmed orders. The price of new orders will be determined according to the price adjustment, and a wave of fancy price increases will come. In December last year, Samsung motor increased the MLCC price for distributors, and locked in the common item numbers 104 and 105, with an increase rate of about 5-10%.
Guoju's production bases in Suzhou and Dongguan resumed work on February 10, which means that Guoju plans to raise the prices of MLCC and resistor from March for distributors and EMS customers. The increase will reach about 30%, and it will continue to be bullish in the second quarter.
Guoju's 30% price adjustment has not yet reached the effective date, it has greatly increased the increase to 50%. Industry insiders predict that the mainland epidemic will impact the global passive component indicator factory. The production in the mainland plant area is more serious than expected, leading to the continuous expansion of the supply gap, which makes Guoju take the opportunity to raise prices. As for the price increase of 50% for the two major products, which is far higher than the original plan, Guoju said on the 17th that the price is determined by the market supply and demand, and is now fully committed to meet the urgent demand of customers.
Passive component price increase affects secondary market
After the festival, the price rise of passive components has already affected the secondary market. According to the statistics of securities times and data treasure, the index of passive components not only filled in the drop caused by panic on the first day after the festival, but also increased by 14% compared with that before the festival.
Fenghua hi tech products include MLCC, chip resistor, chip inductor, ceramic filter and other passive components. It is a leading manufacturer of MLCC in China. The company said that due to the shortage of MLCC supply, its MLCC products also have price adjustment expectations.
Jiemei technology is the leader of MLCC thin tape carrier industry in China. Its products mainly include paper tape carrier, plastic tape carrier, tape, release film, etc., and its customers are Samsung and Guoju. (carrier demand is closely related to the electronic components industry)
Torch electronics is a leading MLCC supplier in China, and a leader in military MLCC. Many new products such as tantalum capacitor and SLC will form new performance growth points.
Product line of Yangjie Technology