📰 DigiTimesDigiTimesCodex · 实盘可交易 · 做多市场:A股▼ 亏 -1.37% · 已结算把握 5/10
北京时间·🕒 发布 07-02 15:00:00时区推断·⟳ 抓取 07-02 15:05:32回填·⚡ 决策 07-05 17:19:26·113.9 天前
DigiTimes称AI服务器与汽车需求推动台湾被动元件订单回升，A股电感/MLCC链条同步受关注
DigiTimes 7月2日称台湾被动元件订单自二季度明显回升，国巨/华新科BB值约1.3-1.4、部分电阻/保护元件更高，MLCC和电阻交期拉长，验证AI服务器与汽车电子需求正在从成本涨价转向供需偏紧。
📄 原文DigiTimes↗ 原文
Passive component suppliers regain momentum on AI server and auto demand
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▼ 亏 -1.37%入场 07-03 开盘 @66.69 → 离场 07-06 开盘 @66.05
日 K 取自复盘打分切片 · 蓝点/蓝虚线 = 纸面入场价 · 灰虚线 = 纸面离场 · 持有期红底 = 赚(价格在入场线上方)、绿底 = 亏
💡 交易逻辑DigiTimes 7月2日称台湾被动元件订单自二季度明显回升，国巨/华新科BB值约1.3-1.4、部分电阻/保护元件更高，MLCC和电阻交期拉长，验证AI服务器与汽车电子需求正在从成本涨价转向供需偏紧。
怎么买 回调买入 回落到 62.5 才买、2 个交易日内有效
怎么卖 止盈 +6%(半仓)/+12%(清仓) · 止损 -5% · 时间止损 3日
失效/反转 若公司后续澄清AI服务器TLVR电感未形成规模供应，或板块继续下跌且无订单/价格验证，则撤销交易逻辑。
不做 麦捷科技（300319.SZ）
硬理由是公司已公告英伟达合作仍处研发小批量试产、未形成规模化供货，且无MLCC业务；本次行业利好不足以覆盖其短期业绩兑现缺口。
不做 三环集团（300408.SZ）
硬理由是市值约2780亿元、估值和弹性分母过大，且KB专家纪要提示国产厂商在AI服务器高端MLCC份额仍微弱，本条行业数据难形成短周期可量化增量。
不做 风华高科（000636.SZ）
硬理由是公司公告否认英伟达认证及暂停接单等核心传闻，且近期香港/国内MLCC炒作已多次异常波动，本条行业利好不能证实其真实订单增量。
不做 台基股份（300046.SZ）
硬理由是detect层ticker与正文公司/行业链条不匹配，未能建立台基股份与本次被动元件订单回升的直接受益关系。
展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)
分时走势
做多 002138.SZ 顺络电子
建仓日早于近 30 天,只有日线图
成交明细 · 纸面
做多 002138.SZ 顺络电子
| 收益状态 | -1.37% 已平仓 |
|---|---|
| 进场成交 | 2026-07-03 · 开盘 · @66.69 |
| 离场成交 | 2026-07-06 · 开盘 · @66.05 |
| 毛收益 | -0.96% |
| 成本 | +0.41% |
| 净收益 | -1.37% |
| 计入收益 | -1.37% |
| 建仓日 | 2026-07-03 · 进场不早于新闻时刻 + 2 分钟 |
收益口径 event_time_plus_2min_10min_walk_open_topup_to_next_open_exchange_calendar_fill_model_local_notional_v9 · method_id m8db1cbc8f2d · 截至 2026-10-27 15:33
研究档案
消息传播链
- 6月中旬中文媒体已把AI算力、车规和被动元件涨价缺货串成A股产业链主线，说明主题并非7月2日首次出现。市场反应:部分A股被动元件标的6月已大幅上涨。
- DigiTimes此前已报道AI数据中心推动国巨、华新科等台湾被动元件销售/BB值改善，是本次7月2日行业数据的前序扩散。
- DigiTimes发布本条文章，称台湾被动元件供应商进入2026年下半年订单动能更强，AI数据中心、汽车电子支撑需求，BB值和交期显示供需趋紧。市场反应:A股相关标的当日多回落，未形成简单追涨。
- 2026-07-03市场反应stock_quote/ClickHouse声称一手 · 未核验顺络电子、麦捷科技、三环集团、风华高科7月3日继续下跌，说明本条行业更新没有在A股形成连续正反馈。市场反应:顺络电子-3.92%，麦捷科技-7.33%，三环集团-2.23%，风华高科-5.57%。
关键理由
- DigiTimes 7月2日称台湾被动元件订单自二季度明显回升，国巨/华新科BB值约1.3-1.4、部分电阻/保护元件更高，MLCC和电阻交期拉长，验证AI服务器与汽车电子需求正在从成本涨价转向供需偏紧。
- A股映射里顺络电子（002138.SZ）比风华高科、麦捷科技更适合表达：公司已有AI服务器TLVR电感批量供应、订单饱满的公开/KB证据，且7月2-3日随板块回撤而非同向重定价，适合用回调条件单小仓试。
- 量级句：顺络电子市值约523亿元、2024年前三季度收入约42亿元量级，数据中心业务此前仍是低个位数占比；若AI服务器电感/钽电容从不足5%收入提升到高个位数，占收入增量可能是数亿元级，但短期仍需订单放量和财报验证。
主要风险
- 该主题6月中旬已被集微网、Sina/东方财富等多次传播，部分A股被动元件6月已有翻倍级炒作，price-in风险中高。
- 麦捷科技已公告英伟达合作仍处研发小批量试产、未形成规模化供货；风华高科也否认英伟达认证，说明板块里传闻噪音很高，必须收紧追价。
反向证据
- 做多前查反向 · 来源 web · 日期 2026-06-22 · 影响 weakens
麦捷科技公告称英伟达合作仍处研发小批量试产、未规模供货，且提示6月以来涨幅过大和回调风险。
检索:麦捷科技 AI服务器 英伟达 合作 风险 2026 7月 董秘 否认 原文 ↗ - 做多前查反向 · 来源 web · 日期 2026-07-01 · 影响 supports
未发现公司否认或重大负面证据，公开调研仍显示TLVR电感批量供应AI服务器，但行业主题已被充分讨论。
检索:顺络电子 AI服务器 TLVR 电感 订单 饱满 风险 2026 7月 原文 ↗ - 做多前查反向 · 来源 web · 日期 2026-06-29 · 影响 weakens
风华高科公告否认英伟达认证及暂停接单传闻，MLCC方向可跟随行业但个股传闻驱动被证伪。
检索:风华高科 英伟达 合作 否认 AI服务器 MLCC 2026 6月 原文 ↗ - 做多前查反向 · 来源 kb_search · 日期 2026-07-03 · 影响 weakens
KB命中专家纪要称高端AI服务器MLCC主要由村田、三星、太阳诱电等外资垄断，国产厂商在该领域份额仍微弱，削弱三环/风华的短线弹性。
检索:被动元件 AI服务器 汽车 订单涨价 MLCC 电感 顺络电子 麦捷科技 风华高科 三环集团 2026 原文 ↗
工具调用 · 历史记录,结果未知(4 种)
- query_modeling_kb · 结果未知
- kb_search · 结果未知
- stock_quote · 结果未知
- normalize_ticker · 结果未知
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Passive component suppliers regain momentum on AI server and auto demand
Flora Wang
, Taipei
Jul 2, 2026, 15:00
0
Credit: DIGITIMES
Taiwan's passive component suppliers are entering the second half of 2026 with stronger order momentum, as demand from AI data centers, networking equipment, power systems, and automotive electronics helps offset earlier pressure from volatile metal prices and weaker consumer electronics planning.
Industry sources said order activity has risen sharply since the second quarter, pushing book-to-bill ratios higher across Taiwan's passive component supply chain and laying the groundwork for stronger third- and fourth-quarter performance.
The recovery comes even as memory shortages and rising prices have disrupted full-year inventory planning for consumer electronics. Some demand was pulled into the first half, reducing part of the traditional second-half peak-season shipment upside, while several AI PC and notebook customers have also cut shipment forecasts, creating order-loss risks for component suppliers.
Still, demand from AI servers and automotive electronics remains firm. Orders transferred from Japanese and Korean suppliers are also gradually benefiting Taiwanese vendors. Major passive component makers — including Yageo, Walsin, Holy Stone, Tai-Tech, Thinking Electronic, Viking Tech, Chinsan Electronic, and Lelon Electronics — are broadly optimistic about the demand outlook.
Book-to-bill ratios at Yageo and Walsin, Taiwan's two leading passive component suppliers, have reached about 1.3 to 1.4, according to industry sources. Viking Tech, a thin-film resistor maker, saw its ratio climb to 1.7 in April 2026, while protective component supplier Thinking Electronic has reached around 1.5 to 1.6. These figures suggest end-market demand is approaching the industry's capacity limits.
Lead times for multilayer ceramic capacitors, or MLCCs , and chip resistors are also lengthening across the board: some products now require 15 to 20 weeks, while others have stretched to more than a year. This tightening supply-demand balance is pushing passive component prices higher and adding pressure on OEM and EMS customers over shipment schedules and margins.
The industry had been under heavy cost pressure from late 2025 through the first quarter of 2026, when prices for silver, copper, and palladium surged. Silver prices rose by triple digits and hit record highs, raising fears that raw-material inflation would erode future gross margins.
Taiwanese suppliers responded by raising prices for bead inductors, chip resistors, varistors, and thermistors to pass higher production costs on to customers. Metal prices stabilized in the second quarter, remaining high by historical standards but giving manufacturers some room to recover.
Passive component makers have also tried to contain cost risks by locking in raw-material prices through long-term orders and reducing reliance on expensive precious metals through material or process substitutions. Even so, the impact of higher input costs carried from the first quarter into the second, weighing on first-half operations.
By the third quarter, however, inventories built with high-cost raw materials have largely been worked through, and earlier product price hikes are starting to show up in revenue, giving passive component suppliers a better chance to move past the cost overhang just as traditional peak-season demand arrives.
Article
translated by Levi Li and edited by Jerry Chen
AI Search
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Tags
2026 automotive electronics component cost data demand electronics equipment passive Taiwan Thinking Electronic Walsin Yageo
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Walsin Technology Corporation Yageo
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Tomorrow's Headlines
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Tomorrow's Headlines
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Home
Tech
Semiconductors
Passive component suppliers regain momentum on AI server and auto demand
Flora Wang
, Taipei
Jul 2, 2026, 15:00
0
Credit: DIGITIMES
Taiwan's passive component suppliers are entering the second half of 2026 with stronger order momentum, as demand from AI data centers, networking equipment, power systems, and automotive electronics helps offset earlier pressure from volatile metal prices and weaker consumer electronics planning.
Industry sources said order activity has risen sharply since the second quarter, pushing book-to-bill ratios higher across Taiwan's passive component supply chain and laying the groundwork for stronger third- and fourth-quarter performance.
The recovery comes even as memory shortages and rising prices have disrupted full-year inventory planning for consumer electronics. Some demand was pulled into the first half, reducing part of the traditional second-half peak-season shipment upside, while several AI PC and notebook customers have also cut shipment forecasts, creating order-loss risks for component suppliers.
Still, demand from AI servers and automotive electronics remains firm. Orders transferred from Japanese and Korean suppliers are also gradually benefiting Taiwanese vendors. Major passive component makers — including Yageo, Walsin, Holy Stone, Tai-Tech, Thinking Electronic, Viking Tech, Chinsan Electronic, and Lelon Electronics — are broadly optimistic about the demand outlook.
Book-to-bill ratios at Yageo and Walsin, Taiwan's two leading passive component suppliers, have reached about 1.3 to 1.4, according to industry sources. Viking Tech, a thin-film resistor maker, saw its ratio climb to 1.7 in April 2026, while protective component supplier Thinking Electronic has reached around 1.5 to 1.6. These figures suggest end-market demand is approaching the industry's capacity limits.
Lead times for multilayer ceramic capacitors, or MLCCs , and chip resistors are also lengthening across the board: some products now require 15 to 20 weeks, while others have stretched to more than a year. This tightening supply-demand balance is pushing passive component prices higher and adding pressure on OEM and EMS customers over shipment schedules and margins.
The industry had been under heavy cost pressure from late 2025 through the first quarter of 2026, when prices for silver, copper, and palladium surged. Silver prices rose by triple digits and hit record highs, raising fears that raw-material inflation would erode future gross margins.
Taiwanese suppliers responded by raising prices for bead inductors, chip resistors, varistors, and thermistors to pass higher production costs on to customers. Metal prices stabilized in the second quarter, remaining high by historical standards but giving manufacturers some room to recover.
Passive component makers have also tried to contain cost risks by locking in raw-material prices through long-term orders and reducing reliance on expensive precious metals through material or process substitutions. Even so, the impact of higher input costs carried from the first quarter into the second, weighing on first-half operations.
By the third quarter, however, inventories built with high-cost raw materials have largely been worked through, and earlier product price hikes are starting to show up in revenue, giving passive component suppliers a better chance to move past the cost overhang just as traditional peak-season demand arrives.
Article
translated by Levi Li and edited by Jerry Chen
AI Search
Related stories
Walsin sees passive component crunch stretching into 2028 as memory shortages weigh
Yageo signals possible price hikes as Japanese and Korean passive component makers raise prices
MLCC, inductor prices climb as AI demand meets cost pressure
Passive component demand splits in 2026; AI and autos hold firm
China's top passive-component maker ignites 30% price surge
Show more
Categories
Chips + components Passive, PCB, other IC components
Tags
2026 automotive electronics component cost data demand electronics equipment passive Taiwan Thinking Electronic Walsin Yageo
Companies
Walsin Technology Corporation Yageo
Share this article
Other links
Related topic
Global supply chain: Advanced economies
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Friday 29 May 2026
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Thursday 28 May 2026
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