CSC(601066) 证券时报网·2025-01-22 00:19Core Viewpoint - The report from CITIC Securities indicates that the historical contradiction between the profit margins of upstream panel manufacturers and downstream appliance manufacturers in the black electronics industry is influenced by cyclical attributes and competitive landscape [1] Group 1: Industry Trends - The acceleration of large-size and MiniLED technology since the national subsidy in 2024 is expected to break the "curse of black electronics" [1] - A potential scenario of simultaneous profit margin increases for upstream panel manufacturers and improved profitability for downstream appliance manufacturers, while consumers benefit from lower prices, is anticipated [1] Group 2: Investment Opportunities - There will be significant investment opportunities emerging in both upstream and downstream segments of the black electronics industry [1]