Core Viewpoint - The upcoming Chinese Lunar New Year is expected to lead to a tighter supply-demand situation for LCD TV panels in Q1 2026 due to production cuts by major manufacturers [1] Group 1: Industry Impact - Major LCD TV panel manufacturers, including BOE, TCL CSOT, and HKC, plan to implement production halts of five to ten days to reduce labor costs and mitigate the risk of increased inventory [1] - The overall LCD TV panel utilization rate is projected to decrease by 3.5 percentage points to 87.7% in the first quarter, indicating a shift towards a tighter supply-demand balance [1]

Core Viewpoint - The panel prices for TVs and laptops remained stable in early April 2025, while monitor panel prices increased. The demand for TV panels showed signs of correction due to increased inventory levels among brand customers and uncertainties in external policy environments, leading to a downward adjustment in orders from most brand clients starting in April [3][5]. Group 1: TV Panel Market - The demand for TV panels has begun to correct, with brand customers increasing their inventory to a certain level, resulting in a downward adjustment of orders starting in April [3]. - The estimated procurement volume for major brand customers in the second quarter is expected to increase by 2% compared to the previous quarter, but this is a significant downward revision from earlier forecasts [3]. - Overall, the TV panel prices are expected to stabilize in April, reflecting a cautious attitude from panel manufacturers aiming to manage supply and demand effectively [3]. Group 2: Monitor Panel Market - The monitor panel prices are benefiting from a temporary exemption from tariffs, prompting some brand customers to actively stock up before the exemption period ends, which supports upward price momentum [5]. - The price increase for monitor panels in April is similar to the growth seen in March, with Open Cell panels rising by approximately $0.2 to $0.3 [5]. - Specific monitor panel sizes, such as 21.5 inches, 23.8 inches, and 27 inches, also experienced price increases of around $0.2 to $0.3 [5]. Group 3: Notebook Panel Market - Despite receiving a temporary tariff exemption, brand customers in the notebook segment have not shifted to an aggressive stocking strategy due to incomplete assembly capacity in Southeast Asia and uncertainties regarding future tariff changes [6]. - The cautious attitude of brand customers is reflected in the overall stability of notebook panel prices in April, with no significant changes expected [6]. - The supply chain remains cautious, as any sudden demand spikes may be constrained by insufficient component supplies [6].