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Filming/first financial reporter wang jin
In the first half of this year, the performance of the companies listed on the panels was divided, and the price of the lcd television panels increased in july. The transition from price competition to value-driven business is being pursued by the front-runners through control of production, mergers and acquisitions, and the addition of higher value-added businesses, and the success of the transition is a new test。
The performance forecast issued on the evening of 14 july by the deep sky ma (00050. Sz, short of tianma) revealed that the net profit due to the mother in the first half of the year was expected to be between $190 million and $220 million, which was a gain on the same basis as the increase in the share of high-end flagship projects and the acceleration of new project construction; it is expected that operating income will increase by about 10 per cent in the first half of the year。
Last week tcl technology (000100. Sz) also released a performance forecast showing that the company as a whole received 82. 6 billion to 90. 6 billion yuan in the first half of the year, an increase of 3 to 13 per cent over the same period; net profit of 1. 8 billion to 20 billion yuan for the mother, an increase of 81 to 101 per cent over the same period; and, of these, the projected net profit of the tcl-based panel business is over $4. 6 billion, an increase of 70 per cent over the same period, benefiting from the large size of the television panel, the increased revenue from the it panel, the high level of oled operations and the completion of related mergers and acquisitions in the second quarter。
There was some optimism, as well as a decline or continued loss in the performance of panel companies. Rainbow shares (600707. Sh) are expected to return to the mother's net profit of 410 - 480 million yuan in the first half of this year, representing a decrease of 47. 59 per cent to 55. 23 per cent over the same period. This was due to the decline in the price of the tv (television) panel on a year-on-year basis, which resulted in a decrease in the size of the panel business and a significant decline in the volume of its six-generation base glass production, which was influenced by market factors。
According to the performance forecast of the wam technology (000536. Sz), the net profit of the mother in the first half of this year, although rising over the same period, is expected to run a loss of between $466 million and $486 million, as competition in the display sector remains intense。
The second half of the year saw increased competition in the industry. The price of the lcd tv panel increased in july. According to sigmainell, the lcd panel price continued to decline in july, with the 32-inch panel price falling from $1 in june to $2 in july and 50, 55 and 65 and 75-inch panel prices falling from $2 in june to $4 in july, mainly due to weak terminal demand and the pressure of hardware losses that inhibited the release of the panel demand。
The general manager of the group of iq advisers, liachan, recently indicated that the global tariff escalation was pushing the whole machine to lower demand, and that the increase in costs had led to lower terminal demand. The demand for panels throughout 2025 was 2 per cent lower than previously anticipated。
It shows that the industry is entering the stock age. The east of kyoto (000725. Sz) has recently indicated on investor day that a gradual shift from “scale and market share” competition in the past to “demand-driven” production; liquid crystals will continue to be the dominant application technology in the medium and long term to show industries in the future, with flexible old markets growing rapidly; companies have also deployed areas such as luminous ore volts, glass-based seals, etc。
In the stock age, industry integration is deepening. Following the completion of the acquisition of 8. 5-generation liquid crystal panels and model production lines in guangzhou by tcl in the second quarter of this year, a recent announcement from the east of kyoto proposed a 30-per-cent share in rainbow light power for $4,849 million. This is expected to lead to an increase in the share of the east of kyoto in the 50-inch lcd panel market from 10 per cent to over 35 per cent, and in the overall lcd panel market from over 30 per cent。
At the same time, panels are being added to top-value-added operations. Tcl has recently provided a panoramic upsight (phud) screen for small cars using ltps lcd panels. The screen has been lit up in the near future. The eastern part of the country is also building 8. 6-generation old production lines to seize the opportunity of the old panel to accelerate infiltration in the pc field。
Cinno research chief analyst zhouhua argued that, as soon as july entered, the re-establishment of the state or confidence in the market was supported, but that early release of consumption could constrain the release of demand in the second half of the year; at the same time, the tariff window was coming to an end, and the demand for procurement in overseas markets advanced or continued the pattern of easing supply. Follow-up market developments will be more constrained by the implementation of the panel control initiative。
The large size of the consultation shows that zhang xiao, deputy general manager of the ministry of enterprise, told the first financial journalist that the price of the lcd tv panel was expected to maintain a downward downward trend during the three quarters, while the price of the tv panel was expected to recede at the end of the three quarters as a result of the strategy of producing it on demand. The downward adjustment in the price of the tv panel poses some challenge for one face-to-face plant to reach its year-round profit target, but on the other hand it can alleviate the cost and loss pressure of downstream brands and provide some support for stabilizing large demand。
