Core Viewpoint - The global esports market is experiencing a recovery in the first half of 2025, leading to increased demand for monitors and gaming laptops, which in turn injects growth momentum into the panel industry [1][3]. Group 1: Esports Market Growth - The global esports monitor retail market is expected to grow by 34% year-on-year this year, while the gaming laptop retail market is projected to increase by 15% in the first half of the year [1]. - In Q1 of this year, China's esports monitor shipments reached 2.58 million units, a year-on-year increase of 56%, with high-end 4K esports monitors seeing a shipment growth of 71.5% [3]. Group 2: Panel Industry Dynamics - Despite the recovery in esports demand, the overall panel industry is still undergoing structural adjustments, with a temporary decline in panel prices due to seasonal factors [6]. - Starting from Q3, the panel industry is expected to see improved demand, with TV panel shipments projected to increase by 3% to 4% compared to Q2, driven by traditional sales peaks and domestic policies [6]. Group 3: Technological Advancements and Market Opportunities - TCL Huaxing is optimizing its mid-size production lines and accelerating the development of mid-size OLED technology, viewing it as a significant industrial opportunity for the coming years [4]. - The global esports monitor market is projected to reach approximately $11.35 billion by 2025, with a compound annual growth rate of about 6.6% until 2035 [4]. Group 4: Supply Chain and Production Strategies - The company emphasizes the importance of maintaining flexibility in technology, supply chain, and product structure to remain competitive in the industry [1]. - TCL Huaxing has achieved over 50% localization in its supply chain materials and aims to strengthen both domestic and global supply chain capabilities [7].

Group 1 - The core viewpoint is that BOE Technology Group Co., Ltd. (京东方A) has observed a continuation of inventory destocking trends among manufacturers since July, leading to a slight decrease in LCD TV panel prices [1] - Looking ahead to August, the company anticipates a gradual recovery in panel stocking demand during the peak season, which is expected to stabilize the LCD TV panel prices [1] - The industry operating rate is projected to recover as demand for LCD TV panels increases [1]