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1. One day the market value soared 170.5 billion yuan BOE how to go 'red';
Reporter Zhu Yi Yi Han Yiqi Shanghai, Beijing coverage
On October 25, a 000-plus-headed stock witnessed the moment with more than 97,000 shareholders, opening its market at a price of 5.23 yuan / share and its market value soared by 17.05 billion yuan in one day.
The same day, from its start on September 26 just a month, from less than 4 yuan then the opening price, to November 3 to 6.01 yuan / share close, its cumulative gain over 50%.
BOE, why in the near future by the capital market blitz?
The reason was answered on October 26, the same day, BOE announced Chengdu 6th generation flexible AMOLED (active matrix organic light-emitting diode) production line ahead of schedule, not only China's first fully flexible AMOLED production line, but also the world's second The sixth generation of flexible AMOLED production line mass production, breaking the monopoly of Korean enterprises.
Industrial stories start, the capital story has never been absent.
After the fans
November 3, 21st Century Business Herald reporter in an interview, the BOE is also escort agencies in Chengdu research activities.
Two days ago, at the 14th Wuhan 's Fair, it became the show's star. It was reported that a large number of visitors poured into its booth, and the BOE had to withdraw its front desk to better receive it.
In the capital market, BOE is the most closely watched listed company in the past month, and from October 20 till now, BOE has intensively accepted the concentration research of 4 agencies.
Only one day on October 17, there are 51 agencies to get together to investigate the BOE, including Harvest Fund, the South Fund, Qianhai Kaiyuan Fund and other 13 fund companies.
On November 3, Chen Xuan, CEO of Chanlong Asset Management in Shanghai, was one of the participants. He recalled: "We asked dozens of questions when conducting the survey." Many organizations are focusing on the 6th generation flexible AMOLED Mass production ',' how many good products', 'What is the company's strategic planning this year and AMOLED financing plan.'
When the Beijing Electronic Tube Plant experienced leadership change, the company joint-stock reform, business shut down and turn and large-scale layoffs, and in the late 1990s changed its name to 'BOE', perhaps no one can think of domestic, in 20 years After the total assets of this enterprise will exceed 230 billion yuan, becoming China's panel industry leader.
When Hyundai Korea sold its liquid crystal display business to BOE in 2003 at a cost of 380 million U.S. dollars, Samsung, the other Korean company, may not have been able to predict that in 15 years from October 2017 it would dominate the flexible AMOLED screen Will be the BOE to break.
BOE suddenly fire.
'The day after tomorrow (October 26) I will go to Chengdu to participate in the BOE sixth-generation flexible AMOLED production line of a ceremony, you should look at, this is a very important thing in the industry.' October 24, a public fund manager in Beijing Speaking with 21st Century Business Herald correspondents.
The public fund manager refers to precisely the BOYO 6th generation flexible AMOLED production line mass production and customer product delivery ceremony held in Chengdu on October 26, this distance in May this year, when the line is lit up at less than Six months.
'Many businesses in the upstream and downstream of the industry chain went to Chengdu on the same day,' said the above raised fund manager, reporting to 21st Century Business Herald after returning to Beijing.
Of course, BOE's 'buddies' are not just friends in capital markets.
The sixth generation of flexible AMOLED production line in advance of mass production the day, JDO to Huawei, millet, OPPO, vivo, Hewlett-Packard, Asustek and other more than 10 customers, delivered a 5.5 inch QHD flexible mobile phone display.
A large domestic mobile phone maker in charge of this evaluation is quite high, 'BOOL AMOLED mass production, the biggest significance of the domestic mobile phone is to reduce the cost of the screen.'
November 3, the relevant person in charge of Jin Li also told 21st Century Business Herald reporter, 'Jin Li M7 and other flagship full-screen mobile phone is Samsung AMOLED screen-based', but the BOE, Pegasus and other screens and has been cooperative relations. It also revealed that 'Jinli will release 8 models of high-end, medium-sized and low-end full screen mobile phones on November 26, which is also the first mobile phone brand in China to adopt a full screen mobile phone.'
'This is an industry transfer opportunity, which means that the LCD panel transfer capacity from Japan and South Korea to China, BOE in this piece of layout for many years, with some advantages, so by the agency concerned, the stock price trend is also strong.' November 3 , South China, a reluctance of the public fund manager gave his interpretation.
Statistics show that at the end of the third quarter, Shigekura held as many as 202 BOE A funds, including 15 ordinary equity funds, 24 partial shares mixed funds, 72 flexible allocation funds and 10 partial debt hybrid funds, 11 bond funds and 59 index funds.
If not cut in the fourth quarter, these institutional investors are 'lucky'.
'Industry side' profound knowledge
'After all, is the first mass-produced AMOLED production line in the country, we all think of production lines to take a look at the field. We also set the exhibition area related products.' November 1, a member of the BOE in the 21st Century Business Herald When interviewed by reporters, talked about the exhibition of the day.
BOE Chengdu 6th generation flexible AMOLED production line is the first fully flexible AMOLED production line in China and the second 6th generation flexible AMOLED production line in production in the world, which uses the most advanced vapor deposition process in the world to achieve the bending of the display screen And folded.
Samsung is now the sole supplier of flexible OLED mobile phone screens with 90% market share in the mobile OLED market, which is the result of the mass production of the BOE Chengdu line, breaking the Korean monopoly. "The fund manager said.
In Chen Xuan's view, BOE's share price goes up. "Everyone is largely aimed at breaking the monopoly of Samsung in the AMOLED production line." However, it emphasizes that the yield rate of AMOLED is currently around 30% , You can find the problem and improve, and constantly improve the yield .Only the yield increase to more than 50%, the production line to turn losses, yield of more than 80% in order to obtain better profitability.
Nevertheless, 21st Century Business Herald reporter learned that, followed by Samsung, to become the world's second mass production of flexible OLED display for the Chinese enterprises in the global OLED industry card position is of great significance.
Since Samsung was the only supplier of flexible OLED mobile phone screens in the past, Samsung and Apple are often given priority to customers such as Samsung and Apple under limited production capacity. Domestic enterprises are at a complete disadvantage in negotiations and often can not get screens in time and miss sales Of the prosperous period. "A brokerage analyst in Beijing on November 3 said in an interview with 21st Century Business Herald.
According to the brokerage analyst introduced with high-end models for the adoption of OLED screen, flexible OLED screen will become the hot spot of the high-end models, penetration will be an increase.
In addition to the production line expectations, BOE's performance also made its contribution: In the first three quarters of 2017, BOE received revenue of 69.408 billion yuan, an increase of 51.41%; net profit of 6.48 billion yuan, an increase of 4503.45%.
21st Century Business Herald reporter learned that the performance of BOE to achieve high growth mainly due to reversal of supply and demand of the panel, resulting in a rebound in the downstream panel prices, while the company also increased capacity utilization. In addition, the company increased research and development investment, product performance and good products Rates continue to climb.
WITSVIEW statistics show that the first half of 2017, BOE LCD smart phones, flat panel display, notebook computer display market share has been the world's first, the company is expected to maintain a substantial growth plate, the industry concentration will increase with the scale effect Continue to improve.
On October 26, Chen Yanshun, chief executive of BOE, said in an interview that the successful production of the 6th generation flexible AMOLED production line in Chengdu will greatly enhance the overall competitiveness of BOE in the fields of high-performance mobile phones and mobile displays, The growing demand for small and medium size high performance display products is of epoch-making significance for the accelerated development of China's OLED industry and global flexible display industry.
'From the perspective of supply and demand, the supply side of Samsung, LG and other Korean manufacturers continue to shut down the production line.At the same time demand-side consumption upgrade to promote the big screen trend, coupled with the display panel in the downstream applications such as automotive electronics increased scene, making the demand side There growth. 'November 3, Shanghai, a brokerage analyst told reporters.
Chen Xuan analysis pointed out that 'Because OLED almost completely outperformed LCD in terms of performance, so Samsung and other companies began to develop and launch the product more than a decade ago, and after a substantial breakthrough in the yield in recent years, the part of the LCD production line into OLED, this year, access to Apple's new applications in large quantities, accounting for the absolute monopoly of the world share.LCD is still in the inertia of demand growth, China is also the main consumer, leading BOE benefit, LCD panel price increases, while new production lines Such as Fujian Fuqing 8.5 on behalf of the line put into operation one after another, and the yield to improve faster, these factors together to promote BOE growth.
He also said, 'With the mass production of OLED production lines in a number of domestic enterprises and the improvement in yield ramp-up, in the small and medium-size screen market, OLEDs may make large-scale replacement for small and medium size LCDs from 2018 to 2019, The degree of prosperity drops.
November 3 afternoon, Liang Zhenpeng appliance industry analyst also told 21st Century Business Herald reporter, 'since the first half of 2016, the upstream LCD panel prices rose more than 50%, resulting in the price of downstream LCD TVs also rose, the product in short supply, this Cyclical fluctuations caused by supply and demand led to BOE's performance. '
Chaser figure
Prior to this, the BOE is known for the capital market with huge financing - burn-loss - loss.
After its visit to the Shenzhen Stock Exchange in 2001, it raised funds of 2 billion Hong Kong dollars, 1.8 billion yuan, 2.2 billion yuan, 12 billion yuan and 9 billion yuan in 2004, 2006, 2008, 2009 and 2010 respectively, plus 460 Hundreds of millions of huge fixed-increase plans, total financing up to 72.6 billion yuan.
As a result, BOE's total share capital has soared from 347 million shares in 1997 to 34.798 billion shares.
People remember, as well as BOE invested a lot, but not satisfactory performance.
From 2008 to 2012, BOE net non-profit after deducting huge losses for five consecutive years until 2011 revenue 12.7 billion yuan, a net loss of 560 million yuan.
A Zhejiang private equity firm focused on BOE five years ago. In his opinion, BOE 's share price trend was very poor before 2014, but the recent stock price trend is so high that the business of the company is improving.
Whether it is LCD, or OLED, are foreshadowed by a 'screen' war, the key word is 'change'.
From the 1980s and 1990s, cathode ray tube (CRT) was gradually replaced by liquid crystal display (LCD) technology. From 2005 to 2006, the LCD sales share surpassed that of CRT, becoming the mainstream technology. By 2009, Samsung equipped with LED technology (OLED) Into the field of smart phones.
The LCD panel itself does not emit light and needs a backlight. However, the OLED panel emits light. Whether it is image quality, contrast, color, or the response speed to a dynamic image, the LCD panel is better than the LCD panel and is thinner, Therefore, the development trend of the panel industry ', however, Liang Zhenpeng stressed that' OLED panel's technical difficulty is still very high '.
At present, South Korea's Samsung Group occupy 99% of the global smart phone OLED screen market share, domestic giants have begun to layout cards, but more play the chaser role.
In addition to BOE, and Hui Optoelectronics, Shen Tian Ma A (000050.SZ), the country was Photovoltaic, China Star Optoelectronics, etc. also stepping up the layout of OLED especially the AMOLED segments.
Public information, and Hui Optoelectronics plans 2019 OLED panel production line, the Shanghai-based LTPS-AMOLED 6 generation line with a total investment of more than 27 billion yuan, is scheduled to be completed by the end of 2018, the second quarter of 2019 measures Production, capacity design is also 30,000 per month glass substrate.
Since 2012, PMOLED in the field of maintaining the world's first shipments of the country's photovoltaic, 30 billion yuan investment in the construction of the Hebei Gu'an AMOLED 6-generation line is expected in 2019 production.
In addition, Huaxing Optoelectronics invested 35 billion yuan in Wuhan building 6th generation LTPS-AMOLED panel production line is expected to mass production in the first half of 2020, is expected to reach full production of 45,000 glass substrates.
In July of this year, Truly Electronics also announced that the 6th generation flexible AMOLED production line with an investment of 27.9 billion yuan in Renshou County of Sichuan Province is expected to light up in 2020 and mass production will begin in 2021. The 21st Century Business Herald
2. OLED TV panel costs fell 55% in two years Terminal market is expected to take off;
According to IHS estimates, since the 55-inch OLED TV first appeared on the market in the first quarter of 2015, the manufacturing cost of the 55-inch OLED panel has plunged 55%. The spread to the same size and same size LCD panel has also been reduced to 2.5 times . By the second quarter of 2017, the production cost of the 55-inch OLED panel has dropped to 582 US dollars. It is estimated that the production cost of the 55-inch OLED panel will drop further to 242 US dollars in the first quarter of 2021. If the same size LCD panel production cost Still maintained at 200 dollars up and down, when the spread between OLED TV and LCD TV will be quite limited.
According to Jimmy Kim, chief analyst of IHS Display Materials, from the historical experience, whenever the price difference between the new technology and the prevailing market technology shrinks, it is the moment when the new technology takes off. Therefore, as the OLED panel and the LCD panel The production cost gap is getting smaller and smaller, OLED TV in the market penetration is expected to significantly increase.
3. OLED eruption of the target material to bring ITO target 'Fangda Carbon' surge;
Millennium cattle: the outbreak of OLED ---- will bring ITO target material prices 'Fangda Carbon' crazy soaring!
OLED industry boom schedule, causing the surge in demand for ITO target material, resulting in the upstream refined indium prices continue to soar, refined indium-related stocks are about to break out, is expected to become the second day Qi, Gan Feng!
A similar logic can be understood as the outbreak of new energy vehicles, causing a surge in demand for lithium batteries, resulting in soaring lithium carbonate prices, the relevant unit 002460 002466 amazing performance!
000725 BOE amazing or amazing, the share price hit a record high
300666 Jiang Feng Electronics (64.65 + 2.93%, Clinic) and 300,706 A Shi Chong (86.77 + 10.00%, Clinic) ITO target surge, the stock is crazy up!
The basic structure of the OLED consists of a thin, transparent semiconductor with indium tin oxide (ITO), connected to the positive electrode of the power, plus another metal cathode, wrapped in a sandwich like structure.
It is well known that 75% of the ITO target materials in the display area all contain indium and indium as the basic raw materials for the ITO target, and the importance of the target for the OLED is self-evident.
The price of indium metal has risen sharply in a month. In the past month, the rate of increase has reached 40%. Wuxi electronic plate rose from 1180 to 1750 now, and the spot price rose from 1200 to 1800.
Driven by the electronic disk on Tuesday, the spot market for indium ingot was in tight supply. Stock traders covered the goods reluctantly and the market was in a state of "no goods available for purchase". In particular, the bulk cargo of tens of kilograms and even hundreds of kilograms is even more difficult to find.
600961 Zhuzhou Smelter Group (9.20 -0.76%, clinics) is the largest manufacturer of indium, also positioned as one of the world's leading indium industry, now has 160 tons / year of refined indium production, ranking first in the industry, but also has 60 tons of ITO target industrialization projects, it is worth focusing!
Multi-factor stimulus demand gap to expand ITO target material indium prices soared
Consumer data show that November 2, refined indium prices continued to rise 3.2%, reported 1600-1650 yuan / kg, up 50 yuan the previous day .In October, the investment funds into the moment the indium market detonated, refined indium prices Since October, or more than 30%, Wuxi electronic trading offer since August rose more than 60% .At present, investment funds are still in the way of non-cost procurement, resulting in spot and electronic disk prices continued to rise.
Indium has a small and very scattered distribution in the earth's crust. So far, it has not been found to be an independent deposit and is mainly associated with zinc, lead, tin and other metal ores. Therefore indium has the same features as gallium, thallium, germanium, selenium, tellurium, rhenium Etc .. Indium is used in a wide range of fields, including flat panel display, alloy, semiconductor, photovoltaic, nuclear industry and other fields.
At present, indium is mainly used in the field of flat panel display as an indium tin oxide target material.Indium is not only a basic material and a functional material involved in all aspects of national economy and national defense, but also a metal closely related to the Internet, new energy sources and energy saving The use of indium is still expanding, occupying an extremely important strategic position both in economic development and in the military reform of the national defense.
Since 2014, the domestic supply of indium has been shrinking continuously, imports have been reduced, consumption and exports have increased, and the surplus has dropped. This trend is even more pronounced in 2016.
Domestic production of large-size indium target will increase in volume in 2017, and direct consumption will increase faster. Domestic consumption will light the hope of sustainable development of China's indium industry in the future and become an important support force for the price of indium to plunge and seek recovery. In the case of shrinking supply and improving consumption, the indium price has reached a bottoming out rebound stage, but the backlog of high inventories will continue to suppress the continuous price rise.
4. 'Merck Show 2017' show the latest display technology and investment in research and development in China;
At the Merck 2017 Seminar in Shanghai, Merk demonstrated to nearly 200 industry professionals from the display industry new display materials and technologies that not only meet current application needs but also enable In a new, future-proof technology scenario, Merck announced the opening of a photoresist R & D laboratory in Suzhou, Jiangsu Province, and the construction of a China-centered OLED technology center in Shanghai.
Merck Suzhou photoresist research and development laboratories help boost China panel manufacturing process
In the digital age, Merck's presence in smart devices is ubiquitous and Merck is constantly working to advance the innovation and growth of smart devices such as Merck's extensive range of photoresist products that drive continuous innovation in manufacturing processes. , Merck Electronic Materials (Suzhou) Co., Ltd. specializes in providing R & D and manufacturing of photoresist products to China's display panel manufacturers, and this new R & D laboratory in Merck will make our experienced R & D team more powerful and able to provide more High-quality materials and faster response services, work together to promote the vigorous development of China's display industry.
'Merck Show 2017': the relentless pursuit of the perfect pixel
Dr. Zhao Fa Si, Managing Director of Merck Investment (China) Co., Ltd. and General Manager of HPM China said that as a pioneer in innovation for specialty chemical suppliers, Merck has long been committed to the research and development of advanced liquid crystal (LC) And in this area has accumulated a wealth of expertise.At the same time, we are also keen on constant innovation in order to promote the future development of display technology to improve people's quality of life. In the field of liquid crystal display to meet the people of the liquid crystal material quality, reliability and The requirements and expectations of optical performance are one of Merck's primary goals. '
To further improve display performance and meet customer needs, Merck continues to introduce better liquid crystal cells and tailor-made hybrid LCDs to improve the performance of existing liquid crystal technologies such as TN, IPS, and VA, while Merck High-end R & D has yielded fruitful results, such as the more sophisticated polymer-stabilized vertical alignment (PS-VA) and ultra-bright fringe field switch (UB-FFS) technology. Powered by UB plus, Merck is not only able to create ultra-high brightness Fast response liquid crystal material, but also can be applied to the maximum size of the TV with each mode of the liquid crystal performance parameters to improve, but also to achieve the goal of improving transmittance and contrast, is developing SA-VA (Vertical self-alignment technology) technology has also made great progress. SA-VA SAVA technology to further simplify the production process, thereby reducing the total cost of the monitor while achieving a new design, bringing a new performance breakthrough.
According to Dr. Romain Mash, senior vice president of worldwide marketing for Merck Display Materials, in addition to optimizing display materials, opportunities exist for other applications beyond what is currently being shown, and Merck is looking forward to exploring new areas of application and meeting the corresponding display requirements As a result, Merck's new vision evolved: Developing display materials with new features Freeform display technology and lightweight display technology are the most important application trends for this display material, and the trend is expanding into application markets, Make new applications possible
5. Chau Ming Technology 60 million acquisition of Rose Science and Technology Plowing LED display segments
Zhou Ming Technology recently became the headlines of major LED layout.According to the news, Chau Ming Technology has invested 60 million in Zhongming signed the "About Rose Technology Co., Ltd. Shenzhen share transfer agreement."
The specific announcement shows that Chau Ming Technology Co., Ltd. intends to transfer 100% equity of Shenzhen Rosa Technology Co., Ltd. (hereinafter referred to as Rosa Technology) held by the above transferor for RMB 60 million by its own funds and bank loans. The equity transfer is completed, the company will hold 100% stake in Rose Technology, Rose Technology will become a wholly-owned subsidiary of the company.
According to professional analysis, the transaction reached will help Zhou Ming further deepen the LED display industry segments in the field of layout. OFweek display network