群智咨询：供应收缩积累上涨动能 预计1月面板价格将温和上涨

Core Viewpoint - The panel supply contraction in Q1 has led to a cooling of brand procurement, while a rising trend in global TV panel prices is beginning to emerge, with expectations of a mild price increase in January [1] Supply Side - In December, panel prices stabilized across the board due to controlled production by manufacturers, with expectations for a mild increase in January [1] - Major manufacturers are showing a strong commitment to production control during the Spring Festival, which is expected to be more intense than during the National Day holiday in 2025 [1] - The price trends for various sizes are as follows: - 32": Demand supports a balanced supply, with a stable average price in December and an expected increase of $1 in January [1] - 50": Limited demand but supply pressure from larger sizes, with prices stabilizing in December and an expected increase of $1 in January [1] - 55": Supply is becoming concentrated, leading to a gradual stabilization of prices in December and an expected increase of $1 in January [1] - Large sizes: Strong production control at G10.5 has significantly improved supply-demand dynamics, with stable prices in December and expectations for a mild increase in January [1] Demand Side - In Q1, brand procurement has shifted from panel stocking to inventory digestion, leading to a decrease in overall demand compared to the previous quarter [1] - The end of event stocking has weakened the overall procurement drive for Q1, while the Spring Festival holiday in China has temporarily paused procurement activities [1] - Despite some positive stimuli from rising storage prices and tax refund seasons, overall brand procurement demand is still expected to decrease compared to the previous quarter [1]