環旭電子(601231.SH):公司當前與AI算力相關度最高的業務是"雲端及存儲"板塊
格隆匯2月1日丨環旭電子(601231.SH)接受特定對象調研時表示,去年整個消費電子行業都面對去化庫存的壓力,當前來看整個行業的庫存去化水平已然不錯,預計到下半年整個行業會有更好的表現。公司當前與AI算力相關度最高的業務是"雲端及存儲"板塊。其中,公司服務器相關的業務大部分還是與雲計算、數據中心相關的企業級業務,當前與AI相關的業務規模還較小。不過,隨着AI行業的快速發展,公司AI相關的服務器業務,包括邊緣計算相關的業務,2024年將有望成長接近100%。此外,在高速交換機整機相關的業務方面,得益於公司服務的行業頭部客户,2023年快速成長,預計2024年伴隨行業景氣度的持續依然會有不錯的成長表現。未來,我們將持續圍繞市場頭部客户拓展在AI算力、數據交換方面的業務機會。
當前已經有跡象表明,AI已經開始逐步賦能各行各業,AI+也將成為消費電子產品的發展趨勢,這已是行業共識。未來,伴隨着公司服務的一些消費電子品牌客户在"AI+"消費電子領域的持續佈局,公司也有望在相關業務受益,如公司生產的SiP模組,已開始在不同客户看到了一些新的業務機會。
環旭過去數十年的持續發展,在模組化、通訊領域積累的了豐厚的技術和經驗。回顧過去,公司通過切入大客户的WiFi模組、智能穿戴All-in-one模組的業務,技術能力、產品品質均得到客户高度認可,得以樹立公司當前在SiP業務領域的領導地位。公司每年生產出貨的SiP模組數以億計,涉及產品包括智能手機、智能穿戴、PC、XR、智能家居等終端產品。最新的技術,包括Wafer-in-Module-out也開始在客户最新產品中得到應用,近幾年公司也參與更多與SiP測試相關的環節,以實實在在的技術能力為客户貢獻更多價值。
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