Zhi Tong Cai Jing·2026-02-05 02:07Core Viewpoint - The electronic industry panel manufacturers are continuing their production control strategies, leading to price increases for large-sized panels, which are expected to persist due to demand from events like the World Cup [1][2]. Group 1: Panel Price Trends - Large-sized panel prices are expected to continue rising as manufacturers maintain production control, with demand remaining stable [2]. - AVC data indicates that all sizes of TV panels saw price increases in late January, with some monitor panels also experiencing price hikes [1][2]. - The tight supply-demand situation for TV panels is extending to monitor panels, with expectations of price increases in February [2]. Group 2: Capital Expenditure Trends - The large-scale capital expenditure cycle in the panel industry is nearing its end, with leading manufacturers expected to significantly reduce future spending [3]. - According to BOE's announcement, 2025 will be the peak year for capital expenditure, with a significant decline anticipated starting in 2027 [3]. - TCL Technology is focusing on investments aligned with the accelerated penetration of OLED in the mid-size market, with no major new production line investments planned beyond the T8 line [3]. Group 3: Mobile OLED Panel Market - Mobile OLED panel prices are under short-term pressure, but the impact is expected to be manageable [4]. - The penetration rate of mobile OLED panels is anticipated to continue increasing, which may offset the decline in overall smartphone shipments [4]. - Omdia forecasts that global smartphone AMOLED panel shipments will decrease slightly to 810 million units in 2026, a minor decline from 817 million in 2025 [4]. Group 4: Investment Recommendations - The favorable supply-demand relationship and the expected continuation of price increases for large-sized panels suggest potential investment opportunities in panel manufacturers such as TCL Technology, BOE A, and others [5]. - Related material manufacturers and display driver chip manufacturers are also highlighted as potential investment targets [5].