Core Viewpoint - The Chinese panel industry is experiencing a recovery in the first half of 2025, with leading companies like TCL Technology and BOE achieving revenue growth and improved profits due to increased demand for large-size TVs and emerging applications like automotive and commercial displays, alongside advancements in flexible OLED, printed OLED, and MLED technologies [1][2][3]. Revenue and Profit Growth - TCL Technology reported a revenue of 85.6 billion yuan, a year-on-year increase of 6.7%, and a net profit of 1.88 billion yuan, up 89.3% [2]. - BOE achieved a revenue of 101.278 billion yuan, an 8.45% increase, with a net profit of 3.247 billion yuan, up 42.15% [3]. - Deepin Technology reversed its previous losses, reporting a revenue of 17.475 billion yuan, a 9.93% increase, and a net profit of 206 million yuan [3]. Market Dynamics - The panel market is stabilizing with improved demand and cost reductions, leading to enhanced profitability [2]. - The growth in large-size LCD production and the expansion of mid-size panels in various applications such as monitors, laptops, automotive, and mobile devices are contributing to revenue increases [2][3]. - The demand for panels is driven by the steady retail demand for TVs and the structural demand improvements in automotive, commercial, and gaming displays [3]. New Display Technologies - Companies are competing in new display technologies such as OLED, printed OLED, MLED, and Micro-LED [4]. - TCL's OLED business is growing, with an 8.7% increase in product sales, and it is expanding its printed OLED production capacity [4]. - BOE is advancing in flexible display solutions and has launched its first 8.6-generation AMOLED production line ahead of schedule [4]. Global Supply Chain and Production - TCL is establishing module factories in Vietnam and India to optimize costs and improve delivery speed to global customers [5]. - BOE's smart terminal factory in Vietnam is set to enhance its integrated industrial ecosystem [5]. - The establishment of overseas production and service networks helps mitigate trade friction and logistics volatility, enhancing the ability to secure international orders [5]. Industry Challenges - There are challenges in the industry, including potential impacts from cross-sector business operations and the cyclical fluctuations in panel prices [5]. - The third quarter is expected to see a recovery in panel supply alongside seasonal demand, with an estimated utilization rate of 86% for panel manufacturers [6].