'Recovery' handsets will Qibo boom: Liu Haiping glass, passive devices the most short

1. Mobile phone will pull the tide: Liu Haiping glass, passive devices, the driver IC is the most short; 2.JDI and BOE and other mainland manufacturers financing negotiation stalemate; 3. Han's Laser: 2020 is expected to ultra-intelligent LCD screen LCD screen , Shipments of 890 million; 4. LCD TV sales downturn, fear of continued decline in the price of LCD panels; 5. Continental panel plant Lintai upstream panel components plant will suffer;

1. Mobile phones will pull cargo boom: Liu Haiping glass, passive devices, the most lack of driver IC;

Set micro-mesh news, China's top five cell phone brands will end up for three quarters of inventory adjustment dark period, years after the new spread of components plant is about to start pulling cargo boom, is expected in March will be the first wave of the emergence of parts rush The industry name, passive components, driver IC and Notch (laser arc groove) shaped cutting glass, for the three supply and demand tight components, passive components even missing the end of the year.

Last year, mainland China's handset sales were sluggish. Since the inventory adjustment started in the third quarter of last year, it has been adjusted for three consecutive quarters. However, under the launch of the new five models, the industry has reported that upstream components have started to pick up from January Due to the Chinese New Year holidays ending on the 21st, the industry estimates that the first wave of spare parts will be picked up in March.

Handset parts factory said that from the current situation of pulling goods point of view, to drive IC, passive components, Notch glass (that is, the market applauded Apple Hai screen) for the three most lacking components, including drive IC due to the latter part of the test time Stretching, coupled with Apple eaten a lot of test machine capacity, leading TDDI driver IC delivery elongated.

Passive components into the second year of the stock shortage, the main reason is the lack of work began in Central China in January; the industry estimates that in January manpower dropped to 80% in February and then reduced to 45% in March although rose to 70% , But the average manpower in the first quarter fell significantly, the main supplier Giant, Huaxin Branch security stocks in less than 45 days in 2008. Passive component factory is expected due to the existing inventory level is very low, March to April the mainland mobile phone Parts pull goods start, MLCC, chip resistance fear of further expansion of supply and demand gap.

Notch Glass is also the main focus of mainland China's five major mobile phone brands this year. Notch glass, though, is tighter than the driver ICs and passive components, but the lead time is longer. The supply situation is not as good as the other components.

Components factory believes that March and April components began to pull the goods, the Chinese mobile phone machine is expected to start shipping by the end of March, 4 to 5 months because of the demand for distribution will begin to heavy volume, the Chinese mobile phone market is expected to end for three consecutive quarters Stock adjustment dark period; however, the size of the brand is still strong or weak, Huawei, OPPO, Vivo, millet and Lenovo five top brands such as the upstream supply chain, there will be more urgent pull strength.

2.JDI and BOE and other mainland manufacturers financing negotiation stalemate;

According to Kyodo News, Kyodo News reported that the financing negotiations with three Chinese manufacturers, driven by the resurgence of the small and medium-sized LCD panel maker "Nippon Display Co., Ltd." (JDI), have come to an impasse as major customers such as Apple Inc. of the United States Sales have been sluggish on iPhone X. JDI has taken the turn of the road to begin a comprehensive assessment of its plans to receive funds from multiple investment funds and to improve its financial position, JDI has been accepting orders from BOE, a Chinese LCD panel maker, Contributions continue to be negotiated, but now that it is abandoned before the end of March, a net loss of four consecutive years in fiscal year 2017 is almost a foregone conclusion, and the company is aiming for a capital increase in the second quarter of 2018 (April to June).

Because the use of organic EL panel (OLED) iPhone X sluggish sales after the liquid crystal panel that has been expected to gradually fall into the forecast of organic EL fall, speculated that the future of the iPhone may also retain the LCD panel models equipped with the view to enhance. Had originally considered the use of JDI is being developed Technology to mass production of organic EL Chinese manufacturers become more cautious.

However, the slowdown in the transition to organic EL will help ensure the current revenue for the JDI, which is the flagship liquid crystal business. JDI originally expected to raise over 200 billion yen through financing from Chinese manufacturers. However, Capital increase, the amount may be reduced to 50 billion yen to about 100 billion yen.

3. Han's Laser: It is estimated that the smart machine OLED screen will exceed the LCD screen in 2020, shipping 8.9 billion pieces;

Set microblogging February 21 reports

Recently, Han's Laser disclosed in the latest investor relations activity record table, said OLED is gradually replacing the traditional LCD.

Relevant data show that by 2020, OLED penetration in smart phones will surpass LCD, the overall OLED shipments of 8.9 billion, becoming the mainstream display mode for OLED display production, Han's laser visual and semiconductor equipment The division has successfully provided customers with four types of solutions: laser cutting, laser repair, laser stripping and automatic image inspection.

It is reported that the display panel corners should be strong enough to ensure that when the phone drops, the panel will not easily damage, which requires the corner of the panel to do some special design and handling (such as R angle, C angle, U-shaped groove , L-type grooving, etc.) These treatments pose challenges for panel makers and brand houses, so laser-ablative cutting is likely to be an important production process for full screen panels.

The three main methods of glass profiled cutting are cutter wheels, CNC grinding and laser cutting, where laser cutting is a newer method of glass-shaped cutting. The laser moves along the material and locally heats above the melting point to form a very narrow Slits. The molten glass is blown away by the high pressure gas. Laser cutting can be done with a precision of 20 μM. Laser-cut glass still needs to be cracked by external forces due to molecular interactions.

According to the IHS Markit survey, there will be many tunneling projects planned and mass-produced by 2018, which will significantly increase the demand for profiled cutting of ditches. IHS Markit expects Huawei to become the first grooved design to be introduced in China in the first quarter of 2018 Huawei is a manufacturer of smartphones and brands, and Huawei is applying its trench design to high-end and mid-range models with a positive product strategy. OPPO, Vivo and Motorola are also developing their own trench designs.

Panel makers are aggressively buying laser cutting equipment from equipment manufacturers to meet the growing need for trenching designs in 2018. (Proofreading / Blue Sky)

4.DTV sales downturn LCD panel prices continued to decline fear;

From the end of 2016, the LCD panel experienced a 14-month price hike with a peak increase of 40%. Although this has benefited many upstream panel manufacturers, the average price of domestic color TVs has started to rise due to cost pressures. This largely led to the continuing winter in China's color TV market, the overall sales even appalling.

Large-size LCD panel production fear of excess

As the overall color TV market is not good, starting from 2018, large-size LCD panel prices have shown a downward trend in which the mainstream size of the price in January this year has dropped 5% chain. It is understood that 65-inch LCD panel, for example, The price is currently around $ 300, a staggering 25% below the peak of $ 400.

However, at the same time, many panel companies in mainland China continue to invest in the production of high-generation LCD panel production lines, many of which have also started production, which has reversed the supply-demand relationship, from oversupply to overcapacity. Especially for large-size panels, prices continue Falling.

Korean panel manufacturers have gradually focused on the OLED

Panel price decline for consumers is good news, which means that the terminal TV prices will decline further.But the panel companies must be vigilant, because at this time the Korean panel makers have already focused on profit conversion larger OLED panel production Aspects, gradually weakened the LCD panel line investment. Zhongguancun Online

5. Continental panel plant Lintai upstream panel components plant suffer;

Chiu Yu-bin, the deputy general manager of WitsView, a research and development institute in mainland China, said that with the local components of land mills, the production capacity of Taiwan's panel makers has been stagnating. As a result, the upstream component factories in Taiwan face difficulties in operating due to lack of market.

Qiu Yubin pointed out that Taiwan and South Korea's panel makers have been slowing down or even stopping their expansion of new plants since the 8.5-generation high-generation production line started in 2012, but the new plants in mainland China continue to expand their capacity. As a result, upstream components of the panel Factory can only rely on the panel factory in mainland China to survive.

He said that in addition to the panel makers in mainland China, BOE, Huaxing Power has the official industrial policy assistance, the local panel upstream component plants also enjoy a variety of concessions; and because of low technical threshold, even if the quality of land components factory Taiwan plant, Also very close.

As a result, panel makers in mainland China have been competing for a low price, seriously compressing the living space of upstream component plants in Taiwan.

He said that from the process of manufacturing and transforming consumption in mainland China, foreign capital originally valued local cheap labor, and now it has turned to optimistic about the vast majority of local markets like the huge LCD TV market, driving the entire television industry. Not only are local TV brands, but more recently A large number of expansion panel industry, as well as panel upstream components industry.

He bluntly, the world's largest display glass substrate Corning, Asahi Glass, Electric Glass; Japan's polarizer giant Sumitomo, Nitto have set up factories in mainland China, the value is the local market, but still in mainland China to develop local Display glass substrate factory, as well as local Polaroid factory.

He believes that the components upstream of the panel, especially the components required for the panel backlight module, have relatively low technical thresholds and Chinese manufacturers have learned a lot from the foreign-funded enterprises including the Taiwan factory. Even the touch panel factory does not Taiwan factory is dominate again, the land factory also challenge Taiwan factory momentum, but Taiwan touch panel factory chose to cooperate with the land factory, the value of the Chinese mainland market.

6. Chunghwa car panel with a good news

Hua Ying (2475) last season's challenges even seven seasons profit, last year is expected to terminate even nine years of loss, the recent rush to attack the original car panel also reported a good news, scored BMW, Toyota, Honda, Mazda, Chang'an, SAIC and other European , China and Japan car manufacturers supply chain, auto panel shipments challenge this year, an increase of more than 14%, the gross margin of related products better than consumer products, extra points for the performance of CPT.

Zhong Ying, deputy general manager of Hua Ying revealed that Hua Ying car panels widely loved by customers in the mainland car market even won over 30% of the city, the local every three cars, there is a panel using the Hua Ying.

In the second half of this year, it is expected to launch the 12.8-inch central control panel and push 15.6-inch products again in the second half of this year.Zhong Zhaoqi said that in the coming year, the vehicle-facing panel challenged shipments of 16 million units and an annual increase of 14.3% Among them, the original pre-installed market share will be pulled up to 55%.

In the first three quarters of last year, Chunghwa Epsilon 0.48 yuan per share, better than the same period the previous year net loss of 0.38 yuan per share.Companies estimate that huaying is expected to continue to make money in the last quarter, wrote seven consecutive quarters of profit success, last year also can be terminated Since 2008, even the nine-year loss.

Zhong Zhaoqi pointed out that huaying optimistic about the better profit car display panel market, the fourth quarter of last year, the tight supply and demand panel market, extending to the first quarter of this year, although a bit pale in the second quarter, but the stock is healthy, through product mix and price increases , Can still maintain profitability.

He emphasized that Huayin's shipments of 6-inch to 10.1-inch automotive panels are large, ranking the world's top JDI companies, ranking third after group startups with a market share of about 16% to 17%.

He said that the major customers of Huawei's in-vehicle panels are Japanese OEMs, including Toyota, Honda and Mazda. Later they entered the mainland market such as Changan, GM, SAIC and the Great Wall. Panel recently successfully cut into the European brand manufacturers BMW supply chain.

Hua Ying in the car before the market from the control panel, all the way into the dashboard, the size from 7, 8 inches and 10, gradually enlarged to 12.8 inches and 15.6 inches in the control panel due to the need to add touch function, better.

In recent years, the shipment of car panels has grown year by year. In 2017, the shipment volume was 14 million pieces, up from 13 million pieces in 2016. The original pre-installed market accounted for 50% of the total. Looking into 2018, the shipments challenged 16 million Film, and pre-installed market as the main force, 55% of this year's point of view. Economic Daily

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