夏普再抛液晶面板厂 昔日“液晶之父”怎么了？

Core Viewpoint - Sharp has announced an asset transfer agreement with Aoi Electronics, selling its second factory and part of the land at its Mie base, while also assisting Aoi in introducing semiconductor packaging production lines. This move is part of Sharp's strategy to shift towards a brand-centric business structure and reduce its asset-heavy operations [2][4]. Financial Performance - Sharp's financial performance has been declining, with a nearly 9% year-on-year revenue drop in FY2023, amounting to 2.321 trillion yen (approximately 107.4 billion RMB), and a net loss of 149.98 billion yen (approximately 6.9 billion RMB). The decline is primarily attributed to asset write-downs in its panel business, particularly due to the shrinking market for small to medium-sized panels [2][3]. Historical Context - Sharp was a pioneer in the LCD display field, starting research in the 1970s and establishing a complete panel production system by the 1990s. At its peak, Sharp held nearly 30% of the global LCD panel market share, earning the title "Father of LCD" [2]. - However, after 2008, Sharp failed to adapt to industry trends and lost market share, dropping from approximately 28% in 2009 to below 20% in 2012, and further to 12% by 2015. The acquisition by Foxconn in 2016 was seen as a potential turnaround, but differences in technology and market strategy hindered effective integration [3]. Strategic Moves - Sharp has initiated a series of asset optimization actions, including the closure of its 10th generation line in Sakai, which could not meet the demands of the flexible display era, and the sale of TV factories in Poland and Mexico. These actions have improved cash flow and are expected to lead to profitability in FY2024 [3][4]. - The collaboration with Aoi Electronics indicates a new direction for Sharp, leveraging its precision manufacturing expertise to participate in the growing semiconductor packaging market. Analysts suggest that if Sharp can establish a stable partnership, it may expand into related services such as equipment maintenance and technical consulting, creating a new revenue stream [4]. Market Environment - The LCD panel market has become increasingly oligopolistic, with leading companies leveraging economies of scale to reduce costs. Sharp's heavy asset structure puts it at a disadvantage in cost control, making the sale of idle factories a necessary step to alleviate financial pressure and improve its balance sheet for future transformation [4].