Large-scale ccd panels have risen in volume prices, industry competition patterns have continued to improve and the market share of domestic producers has increased. At the same time, the chinese panel manufacturer old also delivered more goods than the korean manufacturer. As a result, the tokyo east, tcl technology semiconductor showed a return to business growth, with a loss in performance and a clear contraction in the losses of visino and deep dam a。
Hunan/vin
Incentived by the delivery of consumer electronic products such as television and mobile phones, the sector's profitability has improved significantly. According to choice, listed companies operating on panels in the country include kyoto, visino, tcl, and deep horse a。
According to the financial data, in 2024, the revenue from business in the east of kyoto amounted to 1983. 81 billion yuan, an increase of 13. 66 per cent over the same period. The net profits attributed to shareholders in listed companies after deduction of non-recurring gains and losses amounted to 3. 837 billion yuan, a gain from the successful loss of 633 million yuan in 2023. During the same period, in the case of the panel business, visino and deep tama a were still in a loss, but the loss was significantly narrower than in 2023. Under the umbrella of tcl technology, the operating platform, wal light, received and earned $89,668 million and $5,544 million respectively in 2024, resulting in an increase of over 20 per cent and a substantial loss of profits。
According to the data, the increase in the price of the lcd (lcd display) and the competitive pattern continue to optimize, and the continued increase in the volume and market share of old producers in china is the main reason for the recovery of the performance of domestic panels。
Price increases, competitive patterns optimized
According to lotu, 2024 is the year of the olympic games, the cup of america, the european cup and the year of sports. Global television terminals have been able to pick up their output as a result of large sporting events in the middle of the year, as well as during the second half of the year, when “black five” and “twenty eleven” surged their supply。
In 2024, the global television market registered a 3. 0 per cent increase over 2023, ending three consecutive years of decline. In addition, according to the global lcd panel monthly tracking report, the global lcd panel delivered 237 million pieces in 2024, an increase of 5. 10 per cent over the same period and 175 million square metres over the same period, an increase of 8. 00 per cent。
The year-to-year increase in the volume of deliveries is greater than the rate of increase, which means that the trend towards global large-scale television continues. According to the collective advisory data, the average size of the global lcd panel increased further to 49. 60 in 2024, an increase of 0. 60 in comparison to 2023。
Moreover, according to zhong sein securities, mainland china has a clear advantage in the large-scale panel market, with a higher output than overseas. Specifically, in 2024, the global top-out television panel size was 32 inches, with a market share of 22. 90 per cent, an increase of 0. 70 per cent from year to year; 42 inch panel to 43 inch panel markets ranked second, with a market share of 19. 50 per cent, a decrease of 0. 60 per cent from year to year; and 55 inch panel and 65 inch panel exports ranked third and fourth respectively, with a growth of 9. 00 per cent from year to year, with an increase of 0. 60 to 16. 70 per cent in market share, an increase of 5. 90 per cent from year to year and a market share of 11. 60 per cent from year to year and a growth of 0. 1 per cent from year to year。
The world's 32-inch and 43-inch main power products are mainly produced by the three main panel manufacturers, kyoto a, huastar light and hueko, whose combined market share is close to 70 per cent of global output; in the 55-inch panel market, the combined output of the above three panel producers is 69. 60 per cent; in the 65-inch panel market, the combined output of the three main panel manufacturers, kyoyo oriental a, huostar and hueko, is 71. 10 per cent; and in the 98-inch and above hyper-sized panel market, the combined market share of the continent's three panels is up to 97. 50 per cent。
In addition to the growth in consumer terminal demand, the rise in the price of the ccd panels is another important reason for the warming of the performance of domestic panels。
According to data from the state consulting, in the first half of 2024, the price of the lcd panels rose significantly as a result of increased demand for end brands and reduced production by panels. Of these, 32-inch panel prices increased from $34 at the beginning of the year to $37; 43-inch panel prices increased from $61 to $65; 55-inch panel prices increased from $122 to $130; and 65-inch panel prices increased from $163 to $178。
In the second half of 2024, the price of the lcd panels slowed down gradually, and prices for some dimensions even declined slightly. According to consulting data, in september 2024 the price of television panels reached its lowest point in the second half of the year, of which 55 inches fell to $124 and 65 inches to $172。
However, with the issuance of china's “old-for-new” subsidy policy, the distribution of end-of-sales sales has improved significantly. In addition, superimposed panels were reduced and the price of large-scale television panels stabilized in the fourth quarter of 2024。
At the same time as the face-to-face industry is “higher in volume”, the competition pattern in the ccd market continues to improve. According to skywind securities research, the shaptun shower plant ceased production in august 2024. Furthermore, on 20 december 2024, sharp announced plans to sell to soft silver part of the land and annex to its sdp monitor lcd panel factory located in the city of osaka. In addition to working with soft silver, kddi will also buy into the sharpay city plant block to build the ai data centre。
The above-mentioned deal means that television in japan has zero capacity for large ccd panels, and the withdrawal of the sharp 10-generation line has led to a further optimization of supply and demand patterns in the panel industry。
In addition, in september 2024, tcl technology announced the acquisition of 80 per cent of lgda shares held by lg lgd and its affiliates, 100 per cent of lgdgz shares, and the related technology and support services required for the operation of lgda, lgdgz, at a basic purchase price of $10. 800 billion。
According to the trade announcement, lgdca is an 8. 5-generation lcd lcd-based lcd-based large-scale lcd panel in china. The main products are television and commercial lcd-sized products, designed to produce 180 thousand large panels per month. Lgdgz is a modular plant with the main product being a liquid crystal display module designed to produce 2. 3 million units per month。
After the completion of the above-mentioned transactions, the combined market share of mainland chinese producers will increase to more than 72. 00 per cent, or even close to 8. 00 per cent, and the continental system panel has a strong “control capacity” in the lcd panel area。
China oled top
According to skywind securities, the global mainstream panel includes the lcd panel and the old panel, which in 2024 accounted for about 62. 70 per cent and the old panel for about 36. 20 per cent。
Under the driver approach, oled can be further subdivided into pmoled, a selective activated pixel that controls currents through external circuits and applies to small and low-resolution displays, such as bracelets, smart watches, etc.; amold provides each pixel with a thin membrane transistor and a cap to independently control each pixel's brightness and applies to high-resolution large-scale displays such as smart phones, tablet computers and televisions。
In the area of smart phones, amoled penetration is increasing. According to data from the commonwealth advisory service, in 2024, global amold mobile phone panels delivered about 840 million tablets, an increase of about 25. 00 per cent over 2023. In addition, as a result of the gradual increase in the use of amoled panels by major mobile brands, the amold panel penetration rate will be maintained at an annual rate of 2. 0 to 3. 00 per cent, with a projected penetration rate of 68. 00 per cent by 2028, which means that the amold panel has become the dominant display technology in the smart phone market。
In addition, according to the china securities research, apple introduced oled screens in its ipad pro series for the first time in 2024 and may gradually extend the oled programme to ipad air and ipad mini, even the macbook series。
Due to the earlier start-up of korean producers in the oled area, a high market share had been maintained. However, as domestic producers continue to invest, global oled capacity shows an accelerated trend towards mainland china。
According to omdia data, the capacity of oled in mainland china increased from 1. 43 million square metres in 2018 to 1. 72 million square metres in 2023, and the share of capacity increased from 10. 50 per cent in 2018 to 45. 70 per cent in 2023. In addition, chinese smartphone manufacturers are increasingly using their own local oled panels, which in part contributes to the development of national production oled. According to data from the korea showers industry association, the share of korean parts in the old panels used by chinese smartphone manufacturers, such as chinese, mi, glory, vivo and oppo, fell from 78. 00 per cent in 2021 to 16. 00 per cent in 2023。
More importantly, according to cinno research, in the first half of 2024, china’s panel manufacturer’s smartphone oled output increased to 50. 7 per cent of the global total of oled, and for the first time china surpassed south korea to be the first global oled。
At the corporate level, according to the state sein securities research, in 2024 the volume of smartphone panels in the east of kyoto was approximately 570 million tablets, an increase of 2. 5 per cent over the same period. The market share, calculated on the basis of volume, is about 25. 80 per cent, the highest in the world. Of these, soft amold is about 140 million tablets, the second largest market share in the world at 15. 70 per cent, and the second most stable at home。
According to the financial report, in 2024, visino achieved an operating income of 7,929 million yuan, an increase of 33. 80 per cent over the same period, of which oled products earned 7,494 million yuan, an increase of 46. 01 per cent over the same period. In addition, according to cinno research data, visino amoled's smartphone panel output increased by 44. 30 per cent in 2024, the third highest globally。
During the same period, deep-sweet amoled smartphone operations continued to grow rapidly, with flexible amoled mobile phone screens yielding the third largest volume globally. The tcl technology annual report shows that its soft old phone panel market is up to the fourth highest in the world。
The issue of the securities market weekly, published on 03/05
