[Brokerage Focus] Goldman Sachs: China’s subsidy policy for the Smart Phone Industry supports growth, paying attention to related supply chain companies.

Jinwu Finance | Goldman Sachs released a research report on China's Smart Phone industry on January 4, 2025. The report pointed out that the National Development and Reform Commission of China announced on January 3 that it will expand the scope of national subsidies in 2025 to cover Smart Phones, tablets, and smartwatches. Previously, local governments had already launched Smart Phone subsidy policies ranging from 10% to 20% in 2024. Goldman Sachs expects that national subsidies will cover more Consumers, thereby boosting recent market demand, although the long-term product cycle still relies on technological upgrades (such as 6G in 2030) or design changes (such as foldable Smart Phones).

Jingwu Financial NewsJan 7 12:21 · Ratings

Hong Kong stocks moved differently | The mobile Industry Chain rose broadly in the morning as the national subsidies for Consumer Electronics were implemented, and Institutions are Bullish on the demand for Smart Phone upgrades.

The smartphone Industry Chain saw a broad increase in the early market. As of the time of writing, AAC TECH (02018) rose by 3.57%, trading at 39.15 HKD; Sunny Optical (02382) increased by 3.23%, priced at 68.8 HKD; BYD Electronics (00285) rose by 3.19%, trading at 42.1 HKD.

Zhitong FinanceJan 7 10:02

The International Consumer Electronics Show in 2025 is about to open, and the Consumer Electronics Sector is showing strong performance. ASMPT (00522) rose by 5.46%.

Jinwu Financial News | The Consumer Electronics Sector shows strong trends, ASMPT (00522) rises by 5.46%, BYD Electronics (00285) rises by 4.29%, SUNNY OPTICAL (02382) rises by 3.45%, AAC TECH (02018) rises by 3.04%, FIT HON TENG (06088) rises by 3.1%, Q TECH (01478) rises by 1.94%. In terms of news, the 2025 International Consumer Electronics Show (CES 2025) will be held from January 7 to 10, local time, in Las Vegas, USA. GTJA's Research Reports indicate that products like mobile phones and other consumer electronics.

Jinwu Financial NewsJan 7 09:56

Huajin Securities: The Micro Led industry is accelerating its commercialization, and the opportunity for glasses to have screens is arriving.

In the short term, under the unclear user profile of AR glasses, Asia Vets audio glasses aim to replace headphone functions, using glasses (for vision correction/decorative purposes) as the medium, combined with AI to enhance experience and selling points, and are expected to open up a new audio track.

Zhitong FinanceJan 6 15:00

Major ratings丨CITIC International: With the expansion of national subsidies, Xiaomi, Sunny Optical, Q TECH, and BYD Electronics will benefit.

Gelonghui, January 6 | China Merchants International released a report stating that the National Development and Reform Commission announced on January 3 the expansion of the national subsidy program to include more product categories, such as Smart Phones, tablets, and smartwatches, which was released earlier than market expectations. Although some provinces have already begun expanding the subsidy program to Smart Phones/tablets since August 2024, it is believed that the announcement of national subsidies will encourage other provinces to expedite the implementation of policies, which will boost overall replacement demand for Smart Phones in the short term. The report suggests that related companies with a high market share in the China brand/market will benefit, including Xiaomi, SUNNY OPTICAL, and QIYU.

Gelonghui FinanceJan 6 14:34 · Ratings

According to "The Big Action" from CMB International: The expansion of the subsidy range will benefit companies such as Xiaomi (01810.HK), Sunny Optical (02382.HK), Q TECH (01478.HK), BYD Electronics (00285.HK), TONGDA GROUP (00698.HK), and AAC Technologi

Zhaoyin International issued a report stating that the National Development and Reform Commission announced on January 3 that the national subsidy program would be expanded to more product categories, including Smart Phones, tablets, and smartwatches, which was earlier than market expectations. Although some provinces have already started to expand the subsidy program to Smart Phones/tablets since August 2024, it is believed that the announcement of the national subsidy will encourage other provinces to accelerate the implementation of policies, which will stimulate the overall replacement demand for Smart Phones in the short term. The bank believes that companies with a high market share in China will benefit, including Xiaomi (01810.HK) and Sunny Optical (02382.

AASTOCKSJan 6 14:14