On the morning of May 22, the three major A-share indices collectively rose, with the Shanghai Composite Index increasing by 0.17% during the session. The building materials, comprehensive, and electronics sectors led the gains, while coal and oil & petrochemicals saw the largest declines. The consumer electronics sector strengthened, and as of 9:49, the consumer electronics ETF ChinaAMC (159732.SZ) rose by 3.13%, with its constituent stock Avary Holding hitting the daily limit, Sanhua Group rising by 12.78%, Shenghong Technology increasing by 8.03%, Shunluo Electronics up by 6.17%, and Amlogic rising by 6.14%.

Counterpoint Research has extended its global display capital expenditure (Capex) outlook cycle from 2028 to 2030. The research estimates that from 2023 to 2030, OLED display technology will account for 76% of total global display device expenditure, with LCD at 21% and Micro-OLED at 3%. Global display device total expenditure is expected to grow by 53% year-on-year in 2026. Among these, the year-on-year growth rates for OLED and LCD are expected to be 77% and 1%, respectively.

CITIC Securities stated that against the backdrop of continuous price increases in the midstream and upstream sectors, the overall performance of the electronics industry in Q1 2026 is expected to continue to show significant differentiation. It is anticipated that the storage sector will benefit from price increases and perform the best, with storage chip design and module manufacturers continuing to see high growth both year-on-year and quarter-on-quarter. Additionally, the PCB, power, analog, and advanced semiconductor manufacturing sectors are expected to maintain a favorable outlook; the relatively bright-performing sub-sectors are expected to include storage, AIPCB, power, analog, advanced manufacturing, and leading companies in the fruit supply chain. Looking ahead to Q2 2026, we expect the trend from the first quarter to continue, with storage and PCB remaining in high demand. For the entire year, we are optimistic about the electronics sector, with "price increases + AI + self-control" being the absolute strong mainline throughout the year, and "consumer electronics" may face significant turning opportunities in the second half of the year.

The consumer electronics ETF ChinaAMC (159732) tracks the Guozheng Consumer Electronic Index and primarily invests in 50 A-share listed companies involved in the consumer electronics industry, with the industry mainly distributed in high-profile mainstream sectors such as electronic manufacturing, semiconductors, and optical optoelectronics. Its off-exchange connecting funds are, Class A: 018300; Class C: 018301