8月手机面板行情：旺季需求支撑，LTPS/AMOLED价格持平

Core Viewpoint - The overall mobile panel market maintains high operating rates during the traditional peak season in Q3, with varying dynamics across different panel types [3]. Group 1: a-Si Panels - Demand for a-Si panels remains strong, driving major manufacturers to operate at full capacity. However, aggressive pricing strategies by module manufacturers to secure new project orders have led to a slight decline in a-Si module prices [3]. - Key raw materials, such as driver ICs, are in a price down cycle, contributing to the pressure on module pricing [3]. Group 2: LTPS Panels - LTPS production lines benefit from strong demand in the automotive and non-mobile sectors, maintaining high operating rates. The LTPS production status at Tianma is expected to continue until the end of the year [3]. - Despite the robust performance in non-mobile applications, the smartphone sector shows a relatively balanced supply-demand relationship, keeping panel prices stable in the short term [3]. Group 3: AMOLED Panels - The demand for rigid AMOLED panels has significantly declined due to mainstream mobile brands shifting towards flexible AMOLED technology. Price reductions by major manufacturers like Samsung Display have had limited effects on stimulating demand [3]. - In the flexible AMOLED market, manufacturers are operating close to full capacity due to pre-peak season stocking, but new project prices are under pressure due to intense competition during the bidding phase, while old project prices remain stable [3]. - Forecasts indicate a slight decline in a-Si module prices in August and September 2025, while LTPS and rigid AMOLED panel prices are expected to remain stable in the short term [3].