Citic Securities: Expected Price Increases in the Electronics Components Industry to Continue Spreading

According to the research report of CITIC Securities, since Q4 25, the wave of price increases in the electronic components industry has continued to spread. Recently, manufacturers in the fields of low-voltage MOS, SOC with built-in storage, LED drivers, etc. have successively announced price increases. We have also observed that downstream stocking efforts exceed expectations, coupled with the continuous rise in upstream metal prices, we predict that the price increases in the electronic components industry will continue to spread. We continue to recommend focusing on storage, CCL, BT substrates, wafer foundry, packaging, and other segments that benefit the most from the rising trend in prices, while also suggesting to pay attention to sectors such as power devices, analog chips, passive components, which are relatively low.