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圖1美聯儲歷次加息/降息及擴表/縮表時間線梳理-行業數據

圖1美聯儲歷次加息/降息及擴表/縮表時間線梳理
圖1美聯儲歷次加息/降息及擴表/縮表時間線梳理
2023 年 8 月開始，美聯儲連續暫停加息 10 次后，今年 5 月宣布將每月國債贖回上限由600 億美元放緩至 250 億美元，維持機構債和 MBS 減持上限在 350 億美元。隨著 2024年 9 月美聯儲初次降息 50bps，美聯儲縮表的終點也在“無限接近”。
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圖1美聯儲歷次加息/降息及擴表/縮表時間線梳理_第1頁
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<p><strong>電子元件分類</strong><br/></p><p>電子元件的種類主要分為主動元件和被動元件。其中主動元件主要有分立器件、模擬<a ><strong>集成電路</strong></a>、數字集成電路等。而被動元件主要分為RCL器件、射頻器件、其他。其中電阻、電容、電感、晶體管及形形色色的集成電路也是電子元件。其主要特點分別是：</p><p><strong>1、電阻</strong></p><p>電阻是電子電路中最常用的電子元件，在使用的電子元件中所有的電子產品里面都離不開電阻。電阻的種類很多，常用的電阻有碳膜電阻、金屬膜電阻及水泥電阻。電阻在電子電路中的作用有分壓、限流、取樣等。</p><p><strong>2、電容</strong></p><p>而電容也是最常用的電子元件，種類也很多。按所用的材料分，主要有電解電容、瓷片電容、獨石電容、有機薄膜電容，這些電容各有優缺點，其中鋁電解電容體積小、容量大，但高頻性能較差。一般作為濾波電容或蓄能電容，瓷片電容、獨石電容的高頻性能較好，但其容量不大，一般作為高頻濾波電容。電容在電子電路中的作用有濾波、振蕩、選頻、耦合等。</p><p><strong>3、電感</strong></p><p>電感常用的電子元件，但其在電路中用的不多。電感在電路中常與電容組合使用作為濾波、諧振、選頻，在DC-DC升降壓電路中，電感與三極管或集成電路組合使用可以實現升壓或降壓。</p><p><strong>4、二極管</strong></p><p>二極管是電子電路中常用的半導體器件，它的種類很多。按用途可分為整流二極管、檢波二極管、開關二極管、穩壓二極管、變容二極管、光敏二極管等。二極管在電路中作用為整流、檢波、穩壓、限幅、保護等。</p><p><strong>5、三極管</strong></p><p>三極管也是電子電路中最常用的元件，其應用可以分為線性應用及非線性應用。線性應用主要是構成各種放大器及線性穩壓電源，非線性應用主要是作為各種電子開關去控制負載的通斷。</p><p><strong>6、集成電路</strong></p><p>集成電路使用非常方便，只要外接一些電阻、電容等元件即可實現某種功能。其種類相當多，可以分為線性集成電路、數字集成電路及數?；旌霞呻娐?。線性集成電路主要有前置放大器、功率放大器及各種運算放大器。數字集成電路主要有各種門電路、觸發器、鎖存器、計數器等。常用的數字集成電路主要有74LSO0、74HCO0、CD4000等系列。</p><p style="text-align: center"><img src="http://www.ccyxbj.cn/FileUpload/ueditor_s/upload/2021-5/27/6375772107530317253229808.png" title="電子元件分類情況" alt="電子元件分類情況"/></p><p><strong>電子元件上市公司排名</strong></p><p><strong>1、<a href="http://www.ccyxbj.cn/baogao/31200.html" target="_blank">京運通</a></strong></p><p>主要產品包括多晶硅錠及硅片、區熔單晶硅棒,其中多晶產品主要應用于光伏領域。區熔單晶硅棒具有純度高、抗壓性好等優點,可滿足大功率電子器件的應用需求。</p><p><strong>2、航天彩虹</strong></p><p>主要產品為聚丙烯電子薄膜產品,分為&quot;基膜&quot;和&quot;金屬化膜&quot;兩大類。航天彩虹我國最大的專業電子薄膜制造企業之一,現已成為國內超薄型耐高溫聚丙烯電子薄膜和金屬化安全膜的主導供應商之一。主要產品在技術水平、產品質量等方面處于行業領先地位,其中超薄型薄膜、耐高溫薄膜、安全防爆膜和高壓電力電容器薄膜等高端產品的競爭優勢顯著。</p><p><strong>3、振華科技</strong></p><p>振華科技是西部最大的新型軍工電子元器件基地，產品市場占有率居前三名。其主導產品在性能、質量和市場占有率方面均在國內同類產品中處于先進水平，中國電子集團旗下公司。</p><p><strong>4、聯創光電</strong></p><p>聯創光電主營業務為光電子器件及應用產品、電線電纜產品的研發、生產和銷售,其中光電子器件及應用產品主要包括LED芯片、顯示及照明用LED器件及組件、背光源及組件、智能控制器及模塊。廣泛應用于家電智能控制、手機、平板、車載及電腦等背光源顯示、照明用LED燈具、軍工應用等領域;電線電纜產品主要包括有線電視電纜、移動通信用同軸電纜、光纖光纜、電力電纜等,廣泛應用于通訊產品及相關設備、計算機網絡、電子消費品、電力等領域。</p><p><strong>5、大控</strong></p><p>報告期內,公司原有電子行業剩余2個下屬子公司,主要業務為從事大宗商品貿易。</p><p><strong>6、中航光電</strong></p><p>國內專業致力于光、電連接器技術研發、生產、銷售，并全面提供整套連接器應用解決方案的知名軍工企業。公司的主要產品有連接器、光器件、光電
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<p style="margin-bottom: 20px; line-height: 1.75em;">中國家裝行業在房地產經濟的帶動下，近年來發展迅猛，且隨著互聯網行業的發展，中國家裝行業數字化勢在必行。目前中國家裝行業數字化還存在著許多問題，并且應當抓住重心才能使行業蓬勃發展。</p><p style="margin-bottom: 20px; line-height: 1.75em;"><strong>一、中國家裝行業數字化的核心痛點</strong></p><p style="margin-bottom: 20px; line-height: 1.75em;"><strong>標準化與消費者信任缺失猶在</strong></p><p style="margin-bottom: 20px; line-height: 1.75em;">家裝品類眾多、服務商參差不齊、行業標準缺失都阻礙行業進一步發展，消費者信任缺失問題仍在。</p><p style="text-align: center"><img src="http://www.ccyxbj.cn/FileUpload/ueditor_s/upload/2021-4/2/6375297880420132593427191.png" title="中國家裝行業數字化的核心痛點之消費者分析.png" alt="中國家裝行業數字化的核心痛點之消費者分析.png"/></p><center></center><p style="margin-bottom: 20px; line-height: 1.75em; text-align: center;"><strong>圖1 中國家裝行業數字化的核心痛點之消費者分析</strong></p><p style="margin-bottom: 20px; line-height: 1.75em;">目前家裝行業仍面臨產品難以標準化、服務流程難以標準化的問題，在行業沒有形成有序、清晰的標準之前，消費者信任缺失將會長期存在。一方面標準化普及會隨行業集中度上升而加強;另一方面，數字化手段可以有效拆解各個環節，逐個擊破、總體聯通將帶來標準化變革。圖1中主要顯示的是消費者擔心和不滿的環節。</p><p style="margin-bottom: 20px; line-height: 1.75em;"><strong>流量困局未解</strong></p><p style="margin-bottom: 20px; line-height: 1.75em;">家裝行業特性帶來天然的流量困局，在渠道和流量分化趨勢下，數字化能帶來更多流量轉化可能性</p><center></center><p style="text-align: center"><img src="http://www.ccyxbj.cn/FileUpload/ueditor_s/upload/2021-4/2/6375297881640571032022209.png" title="中國家裝行業數字化的核心痛點之流量分析.png" alt="中國家裝行業數字化的核心痛點之流量分析.png"/></p><p style="margin-bottom: 20px; line-height: 1.75em; text-align: center;"><strong>圖2 中國家裝行業數字化的核心痛點之流量分析</strong></p><p style="margin-bottom: 20px; line-height: 1.75em;">圖2中向我們顯示了創痛家裝行業的流量垂直和橫向營銷。以及通過直觀的圖表顯示了傳統家裝造成線下賣場流量困境的主要原因。家裝行業超低頻使得垂直單品類流量引入的流失率較高，依靠客戶轉介和多品類導流能有效提高留資和轉換，但隨著渠道分化、線上渠道壯大，消費者分流現象已經成為流量困境的主要原因，因此利用數字化方案進行多渠道管理、全景的消費者管理才能更好的緩解流量問題。</p><p style="margin-bottom: 20px; line-height: 1.75em;"><strong>二、中國家裝行業數字化的重心</strong></p><p style="margin-bottom: 20px; line-height: 1.75em;">目前多個產業主體關注的數字化核心是消費者鏈接環節。多個產業主體關注的數字化核心，也將是家裝行業最先引爆數字化變革帶來價值的環節。品牌商均在加強全域、全渠道數字化消費者鏈接能力，賣場還在線下數字化服務體驗發力。</p><p style="text-align: cent
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