Global panel industry overcapacity gradually increased
According to statistics from Sigmaintell, shipments of global TV panels totaled 262 million units in 2017, an increase of 1.6% over the same period of the previous year, with a shipping area of 138 million square meters, an increase of 6.1% over the same period of last year, mainly due to mainland China Increase.
In 2018, CIDREX's 8.6-generation line in Xianyang and Chengdu will be mass-produced. BOE will be the world's first 10.5-unit production line in the world. Coupled with the new production capacity expansion and production expansion in 2017, QSGC anticipates that 2018 The global TV panel production capacity will increase substantially by 10.5%. In particular, the supply of oversized panels such as 50 ", 65" and 75 "will increase significantly and competition will intensify and be festered.
However, the panel industry also need to prevent overcapacity.According to international authorities predict that by 2021, the global demand for LCD panels will reach 215 million square meters, while the supply of LCD panels will reach 245 million square meters, showing the trend of overcapacity nowadays LCD panel industry Of the over-investment has also caused the concern of the countries concerned, to guard against duplication of construction now, the domestic panel industry to speed up industrial upgrading, from 'mentioning' to 'upgrade' at the same time in the downstream to expand the emerging display applications, and Not a low level of duplication.
According to IDC, the share of MN (twisted nematic panel) in MNT products has been declining year by year, and the gradual increase of penetration rate of IPS (Planar Conversion Panel) will be the trend in the future. In addition, MNT panel also has a large size And HD development trend, while the curved panel MNT market has become the new darling.
Qunzhi Consulting believes that the R & D and application of a new generation of flexible screen and 8K ultra-high definition display technology will become the future global industrial high ground. At present, LG vigorously develops frameless technology and Samsung promotes curved surface technology, all moving toward ultra-high definition and flexible screen High-end product direction layout.
Market competition intensified
With the rapid rise of Chinese manufacturers and Japan's exit in the field of large-size panels, the display panel industry in the world has undergone major changes in the past two to three years. For a long time to come, there will be a 'three-legged' competition in mainland China, South Korea and Taiwan Will be more intense.
In 2017, the number of TV panels shipped by panel makers in mainland China reached 94.7 million units, accounting for 36.1% of the global total, surpassing that of South Korea and ranking the first in the world. In 2018, the additional production lines are also mainly concentrated in mainland China. The TV manufacturers in China The number of goods is expected to exceed 100 million units, accounting for nearly 40%. With the mass production of the G10.5 generation line, Chinese manufacturers will enter the large size market of 65 'and above and further enhance their competitiveness in the global TV panel market.
In recent years, global panel investment gathered in China in the global panel industry more competitive competition in the background, the scale of industries in China showed soaring, the Mainland has eight 8.5-generation production line, there are eight high-generation line under construction It is estimated that by 2019 all projects will be completed and will become the largest country in the world in terms of production capacity.
However, it is noteworthy that, in the current hot OLED, especially in the field of AMOLED raw material core technology is still firmly in control of South Korea and Japan, the domestic panel industry has not been able to effectively deal with the large-scale application of AMOLED, ultra-high definition, flexible Screen and other high-end flat panel display localization rate will decline again, so the domestic panel industry chain enterprises a long way to go.
LCD panel usher in new opportunities for investment
It can be said that China's LCD panel industry is ushering in a new period of rapid development, will become the future global industry Heights. The current BOE panel companies in mainland China in the field of TFT-LCD has entered the global echelon of the industry, a new generation AMOLED technology, 8K ultra-high definition display technology research and development are also constantly breaking in the world's leading level, and has a huge market demand advantages.Ultra-HD display technology is not only used in the television industry, but also will drive the medical display, digital signage, security monitoring, Car networking and other industries, the prospects are bright.
We can focus on the following related stocks: BOE (000725, SZ), Chengdu 6th generation flexible AMOLED production line, marking China's panel technology to break the monopoly of South Korea beyond LG as the world's second flexible OLED panel can produce Chinese enterprises; Shenzhen Tianma (000050, SZ) Wuhan G6 production line recently put into operation with good prospects; Black Cattle Food (002387, SZ) to raise funds to set aside by 18 billion into AMOLED display area, AMOLED panel production is about to enter the outbreak; Zhongying Electronics (300327 , SZ): A few companies to achieve mass production AMOLED chip.