Semiconductor cross-border mergers and acquisitions or face the risk of foreign policy
As of Friday, excluding the negative case, the A TTM stock price earnings ratio of 19.16 times (the whole history of TTM, the same below), Bohai electronic board TTM price earnings ratio of 53.53 times, compared to the overall valuation of A shares at a premium rate of 179%, has rebounded slightly last week, but still in the low level since this year. From the valuation of the Bohai sub sector point of view the current semiconductor, electronic components, optical electronics, electronic equipment and manufacturing sector TTM price earnings ratio of 82.64 times, 39.22 times, 54.85 times, 58.13 times.
Point of view this week
The United States Secretary of Commerce in the United States PennyPritzker semiconductor industry organization in a speech to the outside world has clearly signaled that Chinese large-scale mergers and acquisitions semiconductor high-tech enterprises has caused the attention of the U.S. government, large-scale cross-border mergers and acquisitions may face the risk of future policy. But we still think that the semiconductor industry to Asia is a major trend in the development of the industry, the future of China is bound to occupy an important position in the semiconductor industry.
Last week, the new shares favored by the market, the electronics industry has experienced a week of new shares after the hype into the callback stage. We believe that the electronics industry, most of the time shares have a certain growth space, the potential for greater valuation.
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