1. The depreciation of some production lines of Shentianma was completed, and the G6 OLED production line was mass-produced and shipped in early June;
According to the micro-network news (text / Lee), Shen Tianma said in an investor survey recently that according to the "Accounting Standards for Business Enterprises" and the company's accounting policies, the company's production line equipment is depreciated for 10 years. Currently, the company a -Si production line has gradually entered the end of depreciation, such as Shanghai Photonics G5 line has been depreciated, Shanghai Tianma G4.5 line has technical changes, depreciation will be completed within this year, Chengdu Tianma, Wuhan Tianma G4.5 The depreciation of the generation line will be completed in the next two years and will be completed in three years. It is expected to have a positive impact on the company's performance.
In addition, regarding the future proportion of the company's rigid and flexible AMOLEDs, Shen Tianma disclosed that the application of rigid AMOLEDs and flexible AMOLEDs largely depends on the stage in which the technical characteristics of the two technologies are developed at different times. There are few panel manufacturers that supply flexible AMOLED panels in a stable manner. Flexible AMOLED panels are expensive and mainly used in some high-end smartphones. Therefore, at this stage, we believe that rigid AMOLEDs will have good growth space in high-end, high-end smartphones. .
The market's expectation for flexible AMOLED is not just a hyperbolic product. When the future flexible AMOLED panel can be matured to achieve foldable and bendable, the terminal product application will be further opened, which will bring more opportunities for innovation and imagination to terminal manufacturers. The new smart terminal application will greatly promote the application space of flexible AMOLED. Secondly, the cost, when the price of flexible AMOLED panel can be lowered to a certain level and the end customer is acceptable, the market application space of flexible AMOLED will be further improved. The current AMOLED cost In the middle, the core raw materials and key equipment layout are in the hands of foreign manufacturers, and the localization rate still needs time. The company has seen this problem very early, and has already reached a cooperation foundation with key upstream manufacturers in the early layout of the AMOLED pilot line.
Therefore, in the development of AMOLED, the hard screen is the first step. Wuhan Tianma's 6th generation LTPS AMOLED production line has officially mass-produced and shipped to brand customers in early June. The company is also increasing its investment in flexible AMOLED. Layout of the 6th generation LTPS AMOLED production line Phase II project (Wuhan). After the second phase of the project is completed and put into production, the 6th generation LTPS AMOLED production line project and the 6th generation LTPS AMOLED production line second phase project will form a total of 37,500 flexible AMOLED display panels per month. Ability. The company will consider the progress of the conversion of existing rigid AMOLED capacity to flexible AMOLED according to market and customer needs. (Proofreading/Lee) 2.LGD last year smart meter AMOLED shipments super Samsung dominated;
According to the micro-network news, Apple Watch has become the world's best-selling smart meter. IHS Markit statistics show that South Korea's LG Display became the largest supplier of smart meter AMOLED panels last year, and the top five manufacturers in mainland China accounted for two.
According to the Yonhap News Agency, LGD is a supplier of Apple AMOLED panels. IHS Markit data shows that LGD has become the overlord of smart meter AMOLED panels, and shipped 10.64 million units in 2017, with a global market share of 41.4%. Samsung Display ranked second. Shipments reached 8.95 million units, with a market share of 34.8%.
According to industry sources, the increase in LGD shipments should be attributed to the strong buying momentum of Apple Watch. LGD's first-quarter earnings report was inferior, and the first time in six years, there was a net loss. The outside world expects AMOLED shipments to improve, which can boost the company's performance.
Mainland manufacturers and EverDisplay Optronics ranked third, with a market share of 16.2%. Next is Taiwan's AUO, with a market share of 5.7%. Then there is the mainland factory BOE, with a market share of 1.5%. 3. Research and development: Some TV panels of small size rose in the peak season to July;
According to the research report of the research group, the supply and demand of the global LCD TV panel market in the third quarter was tight. Due to the entry into the global market, the demand for panel stocks increased compared with the second quarter, which led to the small price of some TV panels in early July. rise.
Qunzhi Consulting said that in addition to the peak season demand drove the price of TV panels to rise, the panel factory actively adjusted the size structure, resulting in tight supply and demand of LCD TV panels worldwide. In July, the price of small-size TV panels rebounded slightly, and the price of large-size TV panels fell. One of the reasons.
Qunzhi Consulting investigated that after the 32-inch TV panel price rebounded slightly in June, it maintained its upward trend in July, and the average price per piece rose by about US$3 (about NT$91.28).
According to the survey, the supply and demand of the 39.5 to 43-inch TV panel approached the balance in the third quarter. As the panel factory actively promoted the price increase, the price rose slightly in the first ten days of July. The panel inventory remained high from 49吋 to 50吋, and the new capacity was continuously released. In the third quarter, supply and demand were relatively loose. However, the previous price has been fully adjusted. In July, the price of this size panel stabilized.
In addition, the 55th TV panel was actively stocked by TV manufacturers in the third quarter, and the supply and demand gradually became more balanced. The price stabilized in July.
As for the large-size TV panel, Qunzhi Consulting said that TV manufacturers have successively responded to the North American market during the peak season, which has led to an increase in demand for 65-inch TV panels. In July, prices have stopped falling and there is still a chance to rise in the future.
However, the Optoelectronics Technology Industry Association believes that because China's display panel industry is a key strategic industry, it must be self-sufficient in the future, in addition to the mass production of the BOE 10.5 generation line, other panel manufacturers in mainland China such as Huaxing Optoelectronics, CLP Panda And the production of Hon Hai's 10.5-generation line, the panel price is bound to fall, which will stimulate the consumer market demand for oversized TV.
Therefore, the Optoelectronics Technology Industry Association will evaluate that after the 10.5 generation line capacity of each panel factory will be opened, the price of LCD TV panels from 40吋 to 55吋 will still be squeezed, and the trend of sharp price cuts will be inevitable.
4. Rainbow stock layout high generation production line annual income is expected to reach 10 billion;
Recently, Rainbow Shares (6.92 +2.22%, diagnostic stocks) received the decision of the State Administration of Markets, and the decision was not prohibited for the newly established joint venture case of Rainbow Shares and Corning Singapore Holdings Limited (hereinafter referred to as 'Corning Company') , no further review is carried out.
This means that the joint venture between Rainbow and Corning is officially approved.
Prior to the resolution of the shareholders meeting of Rainbow Shareholders, it was decided to sign a “joint venture contract” with Corning. The two parties jointly invested and established a Sino-foreign joint venture company in Shuangliu District, Chengdu, Sichuan Province, and Xianyang High-tech Zone in Shaanxi Province to build a 8.6+ generation TFT- LCD glass substrate back processing production line.
According to the previous announcement, the new production line will be put into operation in September 2018. 'Because it is approved now, the production date may be postponed. We are working hard to make progress. ' Rainbow Shares Dong Mi Long Tao accepts the "Securities Daily" reporter Said in the interview.
Layout Xianyang and Chengdu
The cooperation between Rainbow Shares and Corning Company began as early as May 26 last year. At that time, Rainbow shares announced that recently, Rainbow shares and Corning Display Technology (China) Co., Ltd. signed a joint venture cooperation memorandum, the two sides will jointly fund Established a joint venture in China. Subsequently, the cooperation between the two sides continued to advance.
According to the information, Corning is an indirect wholly-owned subsidiary of Corning Incorporated, which is mainly used as an investment platform company for Corning in the United States.
'The company occupies 51% of the joint venture.' Long Tao told the Securities Daily that Rainbow and Corning will set up a Sino-foreign joint venture in Xianyang High-tech Industrial Development Zone and Chengdu Shuangliu District respectively. The investment scope is to build a 8.6-generation LCD glass substrate back-end processing production line.
The "Securities Daily" reporter learned that the total investment of the first phase of the project is 60 million US dollars; the registered capital is 20 million US dollars, the two sides are funded in cash according to their respective shareholding ratio.
According to the previous announcement of Rainbow Shares, the two-way cooperation project in Chengdu is expected to be put into operation in September 2018. It can produce up to 110,000 glass substrates per month, and the maximum annual sales after production is expected to exceed 80 million US dollars. After the push, we are rushing to the stage and strive for early production. 'Long Tao told the Securities Daily reporter.
Turning losses into profits
2017 is an important year for Rainbow shares. After years of losses, Rainbow shares finally turned around in this year. According to Rainbow's 2017 annual report, in addition to government subsidies, the company turned losses to a large extent. Thanks to the layout of the glass substrate.
In recent years, the demand for electronic products such as smartphones, tablets, LCD TVs, and notebook computers has continued to grow in the end consumer market, driving the scale of the flat panel display industry to expand. In 2018, global glass substrate demand is expected to exceed 500 million square meters for the first time. The customs, domestic demand will be expected to exceed 200 million square meters, the product supply gap is still about half, especially G8.5+, G6LTPS high-precision glass substrates and other products, currently almost 100% dependence on imports, imports from local manufacturers Substitute business opportunities are huge. Based on this, major players in the industry have shifted their business focus to the high-generation panel production line of G8.5 and above. Rainbow shares are gradually upgrading their production lines to the high-generation production line.
In 2017, the shares of Rainbow have been fixed, and the net amount of funds raised is 19.04 billion yuan. The projects invested are the projects of capital increase in Xianyang and Hefei.
Among them, Xianyang Rainbow Optoelectronics Technology Co., Ltd. invested RMB 14 billion in the construction of G8.6TFT-LCD project. According to the “Securities Daily” reporter, the total investment of the project is 28 billion yuan, which is the first 8.6-generation LCD panel production line in Northwest China; Rainbow (Hefei) LCD Glass Co., Ltd. invested 5.22 billion yuan in the construction of G8.5 liquid crystal substrate glass production line, the total investment of the project is 6.003 billion yuan.
At present, the G8.6 LCD panel production line has been officially put into production. It is expected that the first phase of the project will be completed in August 2018. Huaan Securities (5.59 +1.45%, diagnostic stock) analysis, it is expected that the G8.6 LCD panel production line will reach full production by the end of 2018. After the completion of production, the annual sales income will reach 10 billion yuan. If this goal is achieved, it will be 29.7 times of 2016 revenue. The G8.5 glass substrate production line has been put into construction, and it is expected to bring annual sales income of 2.022 billion to Rainbow Shares after production. yuan.
Huaan Securities believes that these will help Rainbow shares become the leader of domestic LCD substrate glass, and the company's future performance is expected to achieve qualitative changes.
Long Tao told the "Securities Daily" reporter: 'The joint venture project has no direct connection with the fixed-income project of last year. It is the company's first investment in order to speed up the progress. ' According to the announcement, after the production line of the joint venture company is completed and put into production, the product will be used. The related party is not less than 70% of its supporting sales. Securities Daily 5.PIDA: Chinese panel makers are provoking price wars in the global panel market;
According to Korean media, BOE, one of the key panel factories in mainland China, is provoking a price war in the global LCD market. Currently, the price of 65-inch LCD panels is 'bargained' to between 240 and 250 US dollars. Like SDC, LGD is under pressure.
Since the mainland of China has faced the world with the rise of a big country, the '2025 Made in China' policy has been vigorously promoted, and a series of key investment projects have been proposed, including the display panel industry, and since the large-size LCD panel production line in China, large-sized panels have been The effect seems to have gradually emerged.
BOE is located in Hefei's 10.5 generation line. The original production schedule was estimated to be Q2 in 2018. According to the Korean media, the current production schedule seems to have advanced two seasons. The output at the end of Q4 2017 has been released.
According to the international panel quotation, the price of other large-size panels, in the first half of 2018, seems to be subject to the price-cutting effect of the 65-inch panel of BOE. The price has been falling all the way. Observing and counting the global large-size panel price changes in the first half of 2018, 40吋, 43吋, 49/50吋, 55吋 and other sizes all show different degrees of downward trend. It is estimated that the price will continue to fall in the second half of 2018. The global large-size panel price changes in the first half of 2018, as shown.
Since China's display panel industry is a key strategic industry, it must be self-sufficient in the future, so it will not be subject to other factors. Therefore, other 10.5-line LCD panel factories in mainland China, such as: Huaxing Optoelectronics, China Power When the production lines such as Panda and Sharp started, the price will inevitably continue to decline, stimulating the demand for ultra-large-size TV in the consumer market. Therefore, the current price of 40吋~55吋 LCD panel is squeezed and the price will be greatly reduced. Ctimes 6. JDI sprint vehicle dashboard;
Japan Display Company (JDI) is betting on the dashboard market for vehicles. It is believed that in the era of electric vehicles, panels will become an important selling point for all future vehicles, and it is expected to increase JDI sales to global automakers and make up for smart phone panel sales. Downturn.
Bloomberg News reports that although most new cars now have a central information panel that provides navigation and entertainment functions, more and more car manufacturers are beginning to replace the dashboards in front of the car with flat screens, such as BMW, Brunswick. The latest models of the big factory, let JDI have a good opportunity to sell.
The JDI Automotive Division earned 100 billion yen ($900 million) in revenue annually, predicting that the department's sales will grow 40% by March 2020.
JDI, which has control of about 30% of the market in the European auto market, is also expanding its market in the US. 7. Beware of OLED technology leaking, Samsung 'staring' former employees;
South Korea has successively reported that the panel factory employees illegally voted for the mainland or transferred mobile phone secret technology documents, raising the doubts about technology outflows. According to the Korean media Newsis, the Korean court recently issued a Samsung Display (Samsung Display) for the departure of employees to prohibit the transfer of leave Disciplinary application. Samsung Display requires certain employees to sign a two-year non-competition clause before leaving the company, but there is a non-compliance with the employee after submitting the signed non-disclosure agreement, instead of contributing to the mainland competitors within the time limit. Defendant A in 2017 After leaving the Samsung monitor in August, he lied to enter a ship safety management company in South Korea, but in September of the same year he went to Chengdu Zhongguang Technology to report. Chengdu Zhongguang is a partner of BOE, and has the same major shareholder as BOE. Adjacent to the BOE factory. The Korean court held that A's bank account salary record did not specify the company name. BOE had deliberately concealed the suspicion that A could stay in the relationship company. Another case was the employment of Samsung Display's partner employees. In order to transfer 5,130 pieces of OLED technology files from August 24, 2017 to February 23, 2018 Handed over to mainland panel makers. Mainland manufacturers have proposed to B that if they carry OLED technology, they will be given three times the annual salary guarantee (about 200 million won). B遂 and three other colleagues will steal secrets. The Korean prosecution was reported in 2018. In March, when a group of people including B wanted to carry a hard disk with confidential documents, they arrested at the airport and immediately blocked the technology outflow crisis. Continental panel makers such as BOE tried to get flexible OLED production technology as soon as possible. Incentives attract talents from the Korean industry. Take OLED technology as an example. In 2013, it was incorporated into the national key technology by the Korea Ministry of Industry, Trade and Resources (MOTIE). 95% of the world's OLED panels are produced by Korean factories. Samsung Display in the first quarter of 2018 The market share of small and medium-sized flexible OLEDs is as high as 97.4%. The Korean industry believes that in order to prevent the outflow of advanced technology, in addition to providing additional incentives for the R&D team, the relevant partners should also have a perfect confidentiality system to improve the confidentiality of relevant personnel. Consciousness. For this reason, the government has allocated funds to protect budgetary funds and set up full-time units to promote it. Korean scholars said that the current technology-related compensation measures have not been perfected, leading to people. The flow of staff, and the level of confidentiality management of SMEs is not enough. New technologies are not independent research and development of large enterprises. It is necessary to strengthen the confidentiality level of the entire industrial network. Education should also be educated for R&D personnel. The research and development results are not shared by the individual assets. According to the Korean media daily economic report, three senior engineers who had resigned from the Samsung Electronics panel field in 2018 turned to BOE to assist BOE in developing a film bonding process for OLED substrates. The Korean industry said that the mainland has recently With the "3355" (three years of work, three years of salary, five years of work, five times a year), Han employees have been tempted to change jobs. Currently, there are 50 Samsung Electronics, 50 LG Electronics and SK Hynix (SK). Hynix) about 100 people left the company to work in BOE. In addition to the panel factory, the cooperation factory has already become the target of technology and manpower for mainland manufacturers. The South Korean government said that the outflow of cutting-edge industries such as semiconductors, monitors and smart phones is becoming more and more serious. In 2015, only 3 incidents of talent outflows using government funds to develop national key technologies were seized, and in 2016, it was increased to 7. Prevention and remedial difficulty of getting high. DIGITIMES