Core Viewpoint - The Chinese display panel industry has seen significant investments in the 8.6-generation OLED production lines, totaling approximately 150 billion yuan, driven by the demand for high-end IT panels such as laptops and tablets [2][5][10]. Investment Landscape - Major players like BOE, Visionox, and TCL Huaxing are heavily investing in the 8.6-generation OLED production lines, with investments of 630 billion yuan, 550 billion yuan, and 295 billion yuan respectively [2][3]. - TCL Huaxing's recent announcement of a 295 billion yuan investment contrasts with its previous statement indicating no plans for new 8.6-generation lines [2][3]. Technology Choices - Companies are adopting different technological routes: BOE and Samsung Display are focusing on the mature "evaporation" process, while TCL Huaxing is investing in the "printing" process, and Visionox is pursuing its proprietary "ViP" technology [3][18][20]. - The 8.6-generation line's larger glass substrate size (2290mm x 2620mm) allows for more efficient cutting of mid-size IT panels compared to the previous 6-generation lines [5][6]. Market Dynamics - The shift from LCD to OLED in the high-end IT market was catalyzed by Apple's launch of the OLED iPad Pro, prompting manufacturers to invest heavily in OLED technology [7][10]. - Despite initial optimism, LG Display has expressed caution regarding the demand for 8.6-generation OLEDs, delaying its investment plans until 2026 due to market uncertainties [9][21]. Competitive Strategies - Companies are adopting different strategies based on their financial health and market outlook: - BOE and Samsung Display are betting on established technologies for certainty and speed [15]. - TCL Huaxing and Visionox are seeking to leverage new technologies for cost advantages [18][20]. - Deepinma and LG Display are focusing on maintaining profitability in existing operations while cautiously evaluating new investments [21][22]. Financial Performance - As of mid-2025, major Chinese panel manufacturers reported improved financial results, with BOE achieving a revenue of 101.28 billion yuan, a year-on-year increase of 8.45% [13]. - In contrast, LG Display faced a complex financial situation, with a slight revenue decline despite a significant reduction in losses [13][21]. Conclusion - The competition in the mid-size IT panel market is intensifying, with various companies pursuing distinct paths based on their assessments of technology, market potential, and financial stability [22].

经济观察报记者 郑晨烨 面板巨头不约同"盯"上了中尺寸IT面板：京东方（000725.SZ）相关投资630亿元、维信诺（002387） （002387.SZ）相关投资550亿元，TCL华星相关投资295亿元…… 自2023年11月起，在不到两年的时间里，中国显示面板行业在同一个细分领域——第8.6代OLED生产线 的公开投资计划总额，已约达1500亿元。这些巨额投资所争夺的，是未来数年笔记本电脑、平板电脑等 中尺寸高端显示屏的市场主导权。 在这一连串的巨额投资中，TCL华星是最新入局的一个。2025年9月12日，TCL科技（000100） （000100.SZ）公告，拟与其子公司TCL华星及广州市政府方面共同投资295亿元，建设一条8.6代印刷 OLED（有机发光二极管，一种在材料通电后可主动发光的显示技术）产线。与该笔巨额投资形成对比 的是，在2024年5月7日，针对当时的市场传言，TCL科技曾发布过一份澄清公告，内容很明确："公司 （包括下属控股子公司）目前无新建8代或8.6代OLED产线的投资计划。" 当然，整个行业围绕8.6代OLED的布局，也并非完全没有分歧：一方面，是早已开工且建设进度飞快的 京东 ...