Strong demand for LCD panel stocking upstream material manufacturers to make good profits
2013-10-25 00:00
Benefiting from the arrival of the holiday sales season and the strong exports driven by the devaluation of the renminbi, the domestic TV manufacturers' panel stock demand is strong, and the panel industry has a certain degree of shortage. According to WitsView forecasts, the situation will continue at least until May, the panel industry is expected to usher in a small spring.
As mainstream manufacturers such as Samsung and LGD reduce the supply of external panels, mainstream TV panel sizes (including 32-inch, 40-inch and 42-inch) have stopped falling and stabilized, and the prices of some small-sized panels have shown an upward trend, with each panel rising by about US $0.1-0.2, showing different increases for the first time. According to NPD DisplaySearch forecast, in 2014 the thin film transistor (TFT) panel demand area will increase by 7%, while the area of TFT capacity growth rate of only 4%. Therefore, there will be a shortage in 2014, and panel prices may rise across the board.
The domestic panel industry has ushered in the profit outbreak season. Shentianma, which focuses on small and medium-sized panels, has full orders in the first quarter, and its net profit in the first quarter of 2014 is expected to increase by 800-1000 compared with the same period in 2013. TCL Group's LCD TV product sales in February 2014 were 855000 units, a year-on-year increase of 27.9 percent. The profit growth for the whole year of 2013 reached 2.89 billion, a year-on-year increase of 127 percent, and the profit of LCD panel business reached a 2.26 billion, a year-on-year increase of 717 percent. The annual profit of BOE in 2013 also reached 2.25 billion -2.35 billion yuan, a year-on-year increase of about 800.
In the face of the increase in domestic panel production capacity, industry insiders have proposed to raise the import tariff of panels to 8%-12%, further enhancing the competitiveness of domestic panels. In 2013, China's panel import tariff increased from 3% to 5%, while South Korea's import tariff was 8%, India's 12% and Brazil's 12%. Recently, BOE Chen Yanshun and TCL Group Li Dongsheng have also expressed their hope to give domestic enterprises reasonable protection by appropriately raising the import tariff of TV LCD panels, from the current 5% of China's LCD panel import tariff rate to more than 8%.
The panel industry is still an emerging industry in China and is growing at a high speed. According to the latest data of China Electronic Information Industry Development Research Institute (CCID), the revenue of China's new display industry exceeded 100 billion yuan in 2013, and will continue to maintain a growth rate of about 50% in 2014, which is expected to be close to 150 billion yuan. In this sense, the panel assembly industry is facing a considerable market space, and there are opportunities for rapid growth in the supporting industries of domestic panels.
Shen Tianma is one of the manufacturers of small and medium-sized panels. Its products have been upgraded from traditional low-order a-si panels to FHD and HD high-order panels, and has carried out research on low-temperature polysilicon (LTPS), AMOLED and in-cell and on-cell embedded touch screens. According to industry experts, Shanghai Tianma's on-cell products and Wuhan Tianma's in-cell products have been produced. Although AMOLED technology has not yet been shipped in batches, its industrialization is only a step away. Yongtai Technology (002326, Guba) products include more than 80 varieties of liquid crystal chemicals, pharmaceutical chemicals, etc. Its liquid crystal materials have formed long-term cooperative relations with Merck, Zhisuo and Yongsheng Huaqing, the world's three largest liquid crystal manufacturers. The company's fund-raising project panel display color filter film material, in the context of not achieving mass production has formed a partnership with the downstream manufacturer Huaxing Optoelectronics. The fifth generation line (G5) and the sixth generation line (G6) of Rainbow Stock (600707, Guba) have been mass-produced and formed batch supply in 2013. In the future, it is expected to be successfully copied on the newly put-into-production G6 and follow the China Electronic Information Industry Group to go overseas.
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