Di Yi Cai Jing·2025-07-14 13:03Core Insights - The LCD TV panel prices have seen an expanded decline in July, prompting leading panel manufacturers to shift from price competition to value-driven strategies through mergers, acquisitions, and enhancing high-value businesses [4][5][6] Industry Performance - The performance of panel-listed companies has shown significant divergence in the first half of the year, with some companies reporting profits while others face losses due to falling TV panel prices [4] - Deep Tianma expects a net profit of 190-220 million yuan for the first half of the year, a turnaround from losses, driven by increased market share in high-end flagship projects and a projected revenue growth of approximately 10% [4] - TCL Technology anticipates overall revenue between 82.6 billion and 90.6 billion yuan, with a net profit of 1.8-2 billion yuan, marking a year-on-year increase of 81%-101% [4] - In contrast, Rainbow Technology forecasts a net profit decline of 47.59% to 55.23%, attributed to lower TV panel prices impacting gross margins [4] Market Trends - The LCD TV panel prices continued to decline in July, with significant drops in various sizes, primarily due to weak terminal demand and hardware loss pressures [5][6] - Sigmaintell reports that the price drop for 32-inch panels increased from $1 in June to $2 in July, while larger panels saw similar increases in price reductions [5] - The display industry is entering a saturation phase, with companies like BOE shifting focus from scale and market share to high-value production [5][6] Mergers and Acquisitions - Industry consolidation is deepening, with TCL Huaxing completing the acquisition of LGD's 8.5-generation LCD panel production line, and BOE planning to acquire a 30% stake in Rainbow Optoelectronics for 4.849 billion yuan [6] - This acquisition is expected to increase BOE's market share in the 50-inch LCD TV panel segment from 10% to over 35% [6] Future Outlook - Analysts predict that LCD TV panel prices will continue to slightly decline in Q3, but may stabilize by the end of the quarter due to manufacturers' production strategies [7] - The downward price adjustment poses challenges for manufacturers to meet annual profit targets but may alleviate cost pressures for downstream brands, supporting overall market demand [7]