Shenwan Electronics Industry Index fell -3.39% last week, the Shanghai Composite Index rose 0.79%. Last Friday, the GEM index has undergone a relatively large adjustment and electronic stocks are on the GEM. Affected by this, the electronics industry has adjusted on Friday. However, we believe that although the current industry valuation is relatively high, it is difficult to There were systemic opportunities, but the level of smart machine inventory in the mainland was effectively reduced, and the overall market appeared back to Wenxin. Observed from the current order visibility, the atmosphere of peak season can be felt in August, and the mainland mobile phone market is expected to enter a better place. Moreover, Apple's upcoming low-cost mobile phones, although it means that the market competition in the low-end smart phones, but for the relevant Apple supply chain, means that the emergence of new incremental markets, which will help improve the production of component shipments.