20231208_德邦证券_有色金属新材料行业年度策略：技术引领材料发展看好未来七大方向_40页.pdf
Table_Main|2023 12 08 s0120523050002 zhaikun S0120522100003 zhangcx kangyh 1.300963.SZ 2023.11.1 2.688786.SH 2023.10.30 3.300748.SZ 2023.10.25 4.300811.SZ 2023.10.23 Table_Summary AI GPU GIV 2030 56 ZFlops 65%1 2 AI 3 400G 800G 4 6 7 8 MLCC MLCC 9 10 1 Markets and Markets 2022 15 2027 173 63.5%2 IDC 2027 4810 3 4 M7 10 2023 10 AITO 12700 M7 10547 10 57829 1 21 71 2 Conectus 22 68 95.6%AI-24%-18%-12%-6%0%6%12%18%2022-12 2023-04 2023-08 2023-12 300 2/40 1.-AI.7 1.1.AI.7 1.2.GPU-.8 1.2.1.8 1.2.2.9 1.3.-.10 1.3.1.AI.10 1.3.2.-.12 1.4.-.13 1.4.1.13 1.4.2.-.14 1.5.-.15 1.5.1.-.15 1.5.2.-.16 1.6.-.16 1.6.1.-.16 1.6.2.-.17 1.7.18 1.7.1.-.19 1.7.2.-.20 1.8.MLCC.21 1.9.-.22 1.10.-.22 2.23 2.1.23-25.23 2.2.-.24 3.24 3.1.24 3.2.MIM.26 3.3.MIM.28 4.29 4.1.29 WUFUuNnQoNmNqOsRsPsNoPaQbP8OsQrRtRoNiNqRpNjMmNqNaQmMzRMYmQmQMYmMnO 3/40 4.2.30 5.31 5.1.31 5.2.32 6.32 6.1.33 6.2.34 7.35 7.1.35 7.2.37 8.39 4/40 1 AI.7 2.7 3 GPU.8 4.8 5.9 6.9 7.9 8 2018-2022.9 9.10 10.10 11.11 12.11 13 2020.12 14 2019.12 15.13 16.13 17.14 18 2020-2035.16 19.16 20.17 21.18 22.18 23.18 24#4.18 25.19 26.19 27 2022.19 28.20 29.20 30.20 31 MLCC.21 32.22 5/40 33.23 34.24 35.24 36 2023 Q2.25 37.25 38.26 39 MIM.26 40 MIM.26 41 2020 MIM.27 42 MIM.27 43 mate X5.27 44 2022.29 45.30 46.30 47 14.30 48 14.30 49.31 50 S7.32 51 M7.32 52.33 53.34 54.34 55.34 56.34 57.35 58.36 59.36 60 NbTi.36 61 NbTi.36 62.37 63.37 1.11 6/40 2.12 3.17 4.23 5.29 6.33 7.33 7/40 1.-AI 1.1.AI Chatgpt AI AI-AI 1 AI CPU GPU ASIC 2 2022 2021 615 EFlops 44%GIV 2030 8/40 56 ZFlops 65%3.3ZFlops 27%52.5 ZFlops 80%0.2ZFlops 34%1.2.GPU-1.2.1.GPU FPGA 3 GPU CPU/GPU-4 9/40 1.2.2.1-AI GPU-H100 22 5 6 22 22 2-22 SMC 3.6 23 4.6 10.6 7 8 2018-2022 10/40 wind 3-2025 1.1/2024/2027/2029 3000/27000/70000/2029 11.1/9 GPU 1.3.-1.3.1.AI AI 5G 10 11/40 90%CPU GPU III-V 5G III-V 1 III-V Si Ge GaAs InP GaN SiC LED CPU 5G Yole 2026 128.19 2019-2026 14.40%2026 2.02 2019-2026 12.42%2019 2,000 2025 3,500 2019 2 2025 3.48 2019-2025 9.67%11 12 12/40 Yole Yole 13 2020 14 2019 Yole Yole 1.3.2.-1-22 47.60/30/4 20/6 60/3.55/80/2 4 15/2 4 2/47.6/30/4 20/6 60/3.55/2-4 80/2-4 15/6 4 2021 1 2023 12 13/40 23.91%2-(LN)(LT)4-8:15 14.68 13.51 420 2025 13.98 2.62 1.4.-1.4.1.PCB 5G 16 14/40 LightCounting 23 5 16%400G 800G 17 LightCounting 1.4.2.-1-2.6179 Source Photonics Holdings(Cayman)Limited D 4,000 15,279,422 5.79%5%IDM 5G 400G 800G 15/40 25G 53G 106G EML 25G DFB DFB EML 2022 2022 3.19 1.24 2022 2.26 2680 2 2023 200 400G 800G 1.6T Finisar 1.5.-1.5.1.-USGS 2019 70%2021-2035-6.5 0.3 19.5 11 61 94 280 6.2%2020 54 2025 73.4 2030 95.5 2035 114.5 2020 2035 CAGR 5.14%5G 2021-2035 2020 60.5 2025 90.8 2030 122.5 2035 147 2020-2035 CAGR 6%2021-2035 3.5%2025 2030 2035 16/40 28.4 33.8 40.1 68.9%2%2025 2030 2035 5.9 6.4 6.9 18 2020-2035 2021-2035-58.8 7.0 2025 2030 2035 115.1 151.3 181.3 1.5.2.-1-22 3.53 39.93%60 21 130 2-22 4.36 81.19%3-1.6.-1.6.1.-PCBA 19 17/40 2028 72.43 2022-2028 1.32%20 1.6.2.-1-22 66.7 3 2022 2021 2.65 2.69 66.7 67.02 119.36 121.37 9.69 9.84 383.71 389.99 18/40 2548 2558 5082 5134 A 2022 8/4.1/2.4/12.5/10/3/60/21 22 22 22 2-5000 23 24#4 1.7.19/40 1.7.1.-AI 25 2022-2028 9.36%2022 355.57 2028 608.24 2022-2028 9.36%26 23-27 22-28 2022 80%20%27 2022 20/40 1.7.2.-1-35,000/2023 2025 73,000/28 e 22 44%8-12 75%CuAl CuMn 2-2022 55,977.3 26t/a 12t/a 4 2 3 29 30,30%,20%,20%,10%,20%21/40 3-1.8.MLCC MLCC MLCC;MLCC MLCC MLCC 31 MLCC 22/40 2022 MlCC 63,378.02 2022 94.19%“”“1200”22 168 162 4 2 1.9.-GPU GPU-VC 2019 32 22 1.10.-400G 800G DAC/23/40 2.2.1.23-25 Markets and Markets 2022 15 2027 173 63.5%33 21tech Markets and Markets 23-25 23-25 4 Optimius-2024 2 Cyberone 60-70/Walker X 10/10 Fourier GR-1-23 GingerXR-23 2025-A1-20 24 9/23 2025 24/40 2-3 2-3 2027 1 2 3C 3 2.2.-34 1 2 3 4 5 6 3.3.1.IDC 2023 Q1 Q2 125.6 35 25/40 IDC 2023 Q2 vivo OPPO 43%36 2023 Q2 IDC IDC IDC 1,000 92.8%54.6%38.2%400 600 46.6%10.4%IDC 2022 180 37 26/40 IDC IDC 2027 4810 38 IDC 24-26 23-27 3.2.MIM MIM MIM 39 MIM 40 MIM 27/40 MIM MIM 2026 MIM 52.6 2022-2026 7.9%41 2020 MIM 42 MIM MIM 43 mate X5 28/40 3.3.MIM 1-MIM MIM+MIM+2022 31%12 12/350 2-MIM MIM MIM 22 8%3-MIM MIM MIM 29/40 MIM MIM MIM 22 68%4.4.1.5 g/cm3)Mpa b/E(104MPa)BHN 2.7 110-270 57 7.15 75-120 660 6.7 280-440 52 7.05 65-140 385 1.8 250-343 191 4.41 60-75 650 4.5 580-1646 366 11.76 270-310 1668 2022 14.5 16.94%73%44 2022 30/40 1 15pro pro 45 46 2 14 99%47 14 48 14 4.2.1-31/40 2022 32,538.59 49 22 2-3C 3-23 1 3D 100/5.5.1.1 AR-HUD 2 HI Huawei Inside OTA 3 HI 32/40 M S7 50 S7 51 M7 M7 10 2023 10 AITO 12700 M7 10547 10 57829 5.2.1 2023 H1 17.72%2 2022 88.16%3 2022 95.23%4 6.33/40 6.1.LEO()MEO()GEO()SSO()IGSO()6 LEO 300-2000 MEO 2000-35786 GEO 35786 SSO 6000 IGSO 35786 2021 17 71 1%2%52 156 2018 12 324 2018 12 Galaxy 2025 1000 2020 1 10Gbps 7 324 186 156 34/40 38 100 80 72 Galaxy 1000 36 2022 794 2023 800 2022 637.87 16.38%2023 742.38 53 54 6.2.1 55 56 2 35/40 23 H1 4342.24 23 H1 6121.92 3/2022/42.08%7.7.1.10-25 57 36/40 Conectus 22 68 95.6%58 59 Conectus Tc 25 K NbTi Tc=9.5 K Nb3Sn Tc=18 K-1 NbTi NbTi Hc2 4.2 K 12 T NbTi+20 90 NbTi 3000 A/mm2 5 T 4.2 K NbTi MRI NMR NbTi 90%Bruker Luvata JASTEC ATI NbTi 60 NbTi 61 NbTi 37/40 2 Nb3Sn A15 Tc 18 K Hc2 27 T Nb3Sn Nb3Sn Nb3Sn Nb3Sn Bruker JASTEC Bruker Nb3Sn Nb3Sn JASTEC Nb3Sn Nb3Sn Nb3Sn 7.2.1-(NbTi)2019-2022 22 10.80 62 63 38/40 wind wind 2-2022 97.98%39/40 8.1 2 3 40/40&8 2022 2021 2020 II 2019 II Table_RatingDescription 1.6 6 2.A 500 20%5%20%-5%+5%5%10%-10%10%10%
