CINNO Research：春节控产影响下 2月电视面板价格预计维持上涨

Core Viewpoint - The demand for TV panels is expected to remain strong in February due to international sports events and domestic subsidy policies, leading to a moderate price increase for most panel sizes [1][3]. Demand Side Summary - In January, the demand was bolstered by the World Cup and the continuation of the "trade-in" subsidy policy, resulting in a strong consumer market [3]. - Prices for mainstream panel sizes (32" to 85") showed an upward trend, while prices for ultra-large panels (98"/100") continued to decline, although the rate of decline has narrowed [3]. - In February, some brands are preemptively stocking up for new product launches, contributing to sustained demand and price increases for mainstream panel sizes [3]. Supply Side Summary - Panel manufacturers increased production line utilization rates in January to meet concentrated order deliveries, with an average utilization rate of 86.4% for high-generation lines [4]. - Due to the Spring Festival holiday, some production lines implemented production controls, leading to a projected decrease in average utilization rates to below 80% in February and a 10.3% decline in panel shipments [4]. - The overall price of LCD TV panels is expected to rise in February, with mainstream sizes projected to increase by $1, while ultra-large panel prices are expected to stabilize at $425 [4].