Chuangxin Index Analysis Report for October 2024 - Financial report reveals inventory adjustment status, many original manufacturers initiate price increases

1. Overall market overview in October

• The industry is still inInventory depth adjustment periodThe performance of major MCU manufacturers such as ST and Renesas has declined significantly year-on-year.Industrial market recovery slow。
• Storage market direction:NAND / general DRAM oversupply, price decline, only HBM maintains high prosperity driven by AI.
• Many original manufacturers announced price increases. The main reasons are:AI demand-driven + rising cost pressure。
• Demand for domestic chips continues to grow,Domestic substitution process accelerates。

2. October Core Creation Index・Hot Search TOP10

3. Top 10 core creation index and inventory fluctuations in October

• Domestic materials (Sichuan Tuwei, Longxun)Inventory growth and demand continue to increase。
• General Storage: Micron NAND stocks rise, Samsung LPDRAM stocks fall.
• Power devices, operational amplifiers, isolators, etc. are obviouslystructural differentiation。

1. TLC27M2CDR (TI Op Amp): Stock Dropped
2. CLA4603-085LF (Skyworks RF Diode): Stock Increase
3. CA-IS3721HS（Sichuan Tuwei digital isolator): Inventory growth
4. MAX40203AUK+T (ADI Ideal Diode): Stock Increase
5. DS28E05R+T (ADI EEPROM): Stock reduced
6. STPS20H100CT (ST Schottky): Stock Dropped
7. LT6911C（Longxun HDMI Conversion): Inventory decline
8. NCP435FCT2G (onsemi driven): stock growth
9. MT29F8G08ABBCAH4 (Micron NAND): Inventory growth
10. K4F8E3S4HD (Samsung LPDRAM): Stock Dropped

4. Summary of supply, demand and market conditions

1. MCU / Analog / Power: The overall market is stable, inventory is still being reduced, and industrial and automotive demand is weak.
2. Demand highlights: The search volume for communication radio frequency, industrial IMU, and power management chips has increased significantly.
3. storage：
   • HBM and DDR5 benefit from AI servers, with strong demand;
   • General DRAM and NAND are in oversupply, prices have fallen, and original manufacturers have begun to reduce production and control prices.
4. Domestic replacement: The demand and market share of domestic chips continue to increase, and their performance is significantly stronger than the broader market.
5. price trend: Discontinued materials are in short supply and prices are rising; general MCU and memory prices are under pressure and falling.