面板月度数据跟踪

Investment Rating - The industry investment rating is "Outperform the Market" [9] Core Insights - In September, TV panel prices continued to decline month-on-month, with prices for 32/43/50/55/65-inch panels at $36/$62/$101/$126/$172 respectively. The "old-for-new" consumption subsidy policy has stimulated demand for large-size panels in the Chinese market, while international brands remain conservative in their procurement strategies due to inventory and operational pressures. It is expected that LCD TV panel prices may stabilize starting in October due to production control and partial demand recovery [2] - For monitor panels, prices saw a slight month-on-month decrease in September, with 23.8-inch and 27-inch monitor panel prices at $44.4 and $56.6 respectively. The consensus among panel manufacturers is to adjust production capacity due to the certainty of declining demand. Despite efforts to control production, overall monitor panel prices are expected to continue a downward trend [5] - Notebook panel prices remained stable in September, with 14.0-inch and 15.6-inch notebook panel prices both at $26.3. The low-end demand in the notebook panel market is showing a downward trend, but with upcoming promotional seasons, brand manufacturers are actively stocking up, which is expected to keep overall mainstream market prices stable in October [6] Summary by Sections TV Panels - September TV panel prices showed a month-on-month decline, with significant demand for large-size panels driven by local subsidy policies. Prices are expected to stabilize in October [2] Monitor Panels - Monitor panel prices experienced a slight decrease in September, with manufacturers agreeing on the need to adjust production due to declining demand. Prices are anticipated to continue to decline [5] Notebook Panels - Notebook panel prices remained unchanged in September, with low-end demand declining. However, upcoming promotional events are expected to maintain price stability in the mainstream market [6]