智通财经APP获悉，7月21日，TrendForce集邦咨询公布了7月面板价格：2025年7月，电视面板价格下跌，显示器与笔记本面板价格稳定。受到部分品牌客 户修正第三季的采购订单影响，7月电视（TV）面板需求仍显疲软。品牌客户一方面通过修正订单来控管库存，一方面也借此作为议价的筹码。而对面板 厂而言，持续通过按需生产来稳定供需仍是首要目标，同时部分面板厂认为随着年末销售旺季的到来，品牌客户将会在8至9月增加采购量，届时需求转 强，面板价格应有机会开始呈现较为稳定的趋势。短期来看，7月份需求相对较弱下，面板价格依然呈现下探趋势。 2显示器面板 进入第三季度后，尽管部分面板厂仍期待显示器（MNT）面板价格能有微调上扬的空间，但实际上MNT面板需求已显露走缓趋势，仅少数尺寸规格的供 应存在小缺口。加上电视面板需求走缓、价格开始下滑的影响，预估7月份整体MNT面板价格走势中，无论是Open Cell面板还是面板模块，均已转向持平 态势。 3笔电面板 第三季笔电（NB）面板需求动能，在部分品牌客户展望转向乐观的背景下，预估7月与8月的面板需求将表现较佳。但面板厂出于维系客户关系的考量， 不敢贸然调涨价格，甚至需通过台 ...

Core Viewpoint - The article discusses the challenges of mergers and acquisitions (M&A) in the semiconductor industry, contrasting it with the more fluid M&A environment in Western markets, and highlights the mindset of founders regarding selling their companies to competitors [1][2]. Semiconductor Industry M&A Status - The semiconductor industry is categorized under "pan-semiconductor," sharing similarities with solar and display panel industries in terms of materials and equipment used [2]. - Founders returning from the U.S. may perceive local competitors from solar and display sectors as less sophisticated, leading to reluctance in M&A discussions [2][4]. Market Dynamics and IPO Standards - The standards for listing on the Science and Technology Innovation Board (科创板) are continuously rising, making it difficult for companies that would have qualified in the past to meet current criteria [5][6]. - The increasing standards across various boards reflect the evolving nature of industries and the need for companies to adapt to market expectations [6][7]. Barriers to M&A - Two significant barriers to M&A are the existence of listing performance agreements and valuation discrepancies between private companies and public counterparts [12]. - Many private companies have valuations that exceed those of similar public companies, complicating potential acquisition discussions [12]. Founder Mindset - Founders often have a strong attachment to their companies, viewing the idea of selling to a competitor as an insult, which can hinder M&A opportunities [4][21]. - The average age of entrepreneurs in the primary market is around 45, and their experiences often lead to a strong desire for an independent IPO rather than selling their companies [20][21]. Conclusion - The article emphasizes the need for continued efforts in the primary market to address the cultural and structural barriers to M&A, suggesting that a shift in mindset among founders is necessary for change [22].

Core Viewpoint - TrendForce's report indicates a continued decline in TV panel prices as of July 2025, while monitor and notebook panel prices remain stable [1] Group 1: TV Panel Market - Demand for TV panels remains weak, leading some brand clients to adjust their procurement orders for Q3 to control inventory and enhance bargaining power with panel manufacturers [1] - The downward trend in TV panel prices is impacting the pricing trends of monitor (MNT) panels [1] Group 2: Monitor Panel Market - The demand for monitor panels has also started to show signs of slowing down, with only a few specific sizes experiencing slight supply shortages [1] - As of July, the overall price trend for monitor panels, including both Open Cell panels and panel modules, is expected to stabilize [1]

| | | | T TrendForce | | --- | | 应用别 | प्तचे | 分辨率 | 出货型态 | | | 液晶显示屏价格下旬预测 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | (E | 를 | 均价 | 与前月差异(% | | | 电视 | een M | 3840x2160 | Open-Cell | I ea | 178 | 174 | -2.0 | -1.1% | | | SE .. M | 3840x2160 | Open-Cell | II d | 127 | 124 | -2.0 | -1.6% | | | 43"W | 1920x1080 | Open-Cell | 62 | રિ | 64 | -1.0 | -1.5% | | | 32"W | 1366x768 | Open-Cell | 34.0 | 36.0 | 35.0 | -1.0 | -2.8% | | 桌上显示器 | 27"W (IPS) | 1920x1080 | LED | 57.6 | ર્સ જ | 63 ...

" 今年6月，多地国补政策收紧或影响国内市场需求预期，叠加面板供应维持宽松，致使面板价格普遍下 行 。 进 入 7 月 ， 国 补 重 启 或 对 市 场 信 心 形 成 支 撑 ， 然 政 策 红 利 减 弱 及 消 费 潜 力 透 支 或 制 约 下 半 年 需 求 释 放；同时关税窗口期临近尾声，海外市场采购需求提前或延续供应宽松格局。预计今年7月整体面板价格 持续下行。 " | | | | Size & Resolution | | | Technology | Jun.25' | Jul.25'(E) | Differ | | --- | --- | --- | --- | --- | --- | --- | | 32" | 60Hz | HD | LCD | $33.0 | $32.0 | -$1.0 | | 43 " | 60Hz | FHD | LCD | $66.0 | $65.0 | -$1.0 | | 50" | 60Hz | UD | LCD | $94.0 | $92.0 | -$2.0 | | 55" | 60Hz | UD | LCD | $120.0 | $118.0 | -$ ...

Group 1: Market Position and Growth - By 2024, Chinese companies will control 65% of global polarizer production capacity, expected to exceed 80% by 2027 [1] - In 2025, China's display panel production will account for 70% of the global market share, meaning 7 out of every 10 display panels produced worldwide will come from China [2] - The market size of China's display panel industry will reach 1.3 trillion yuan in 2024, capturing over 50% of the global market [3] Group 2: Key Players and Performance - BOE Technology Group leads the smartphone panel market with a projected shipment of 610 million units in 2025, holding a 68.8% market share in 2024 [2] - In the large-size LCD TV panel market, BOE holds a 25.9% market share, while Huaxing Optoelectronics and Huike occupy 20.2% and 14.4% respectively [2] - In 2024, BOE's revenue is expected to be 198.38 billion yuan, with a net profit of 5.32 billion yuan, marking a significant recovery from previous losses [7] Group 3: Technological Advancements - The introduction of 15 AMOLED production lines is challenging the dominance of South Korean manufacturers, with flexible screens and MiniLED technology driving a new display revolution [3] - Chinese companies are adopting a dual-track strategy, focusing on both LCD and OLED technologies to maintain market leadership [6] - The OLED gaming monitor segment is experiencing rapid growth, with a 132% increase in global shipments in 2024 [8] Group 4: Emerging Markets and Opportunities - The global automotive display panel market is projected to reach 232 million units in 2024, with a 6.3% year-on-year growth [8] - BOE holds a 17.6% market share in the automotive display sector, collaborating with various automotive brands [9] - The esports monitor market in China is expected to grow by 12.4% in 2025, driven by increasing consumer demand and the introduction of new products [12] Group 5: Strategic Developments - The acquisition of LG Chem's OLED polarizer business by Shanshan Holdings is a significant move towards vertical integration in the industry [4] - The construction of the world's first 3000mm ultra-wide polarizer production line by Hengmei Optoelectronics is set to enhance production capacity significantly [5] - The dual strategy of focusing on both LCD and OLED technologies has allowed Chinese manufacturers to effectively compete in the global market [6][13]

6月30日，据深交所最新披露显示，惠科股份IPO申请已正式获受理。 根据当日更新的招股书显示，惠科此次拟募集85亿元，投资建设"长沙新型OLED研发升级项 目"（总投资30亿）、"长沙Oxide研发及产业化项目"（总投资30亿）以及"绵阳Mini-LED智能制 造项目"（总投资25亿）。 | )ま | 项目名称 | 项目投资总额 | 拟使用募集 | 备案情况 | 环评情况 | | --- | --- | --- | --- | --- | --- | | 官 | | | 资金金额 | | | | 1 | 长沙新型 OLED | 303.113.26 | 250.000.00 | LJK20250101 | 浏环商 | | | 研发升级项目 | | | | (2025) 19号 | | 2 | 长沙 Oxide 研发 及产业化项目 | 300.007.36 | 300,000.00 | LJK2025098 | 长环评(浏经 开) (2025) | | | | | | | 10 号 | | 3 | 绵阳 Mini-LED | 254.455.17 | 200.000.00 | 川投资备【2501-510703- ...

Group 1 - TrendForce reported a decrease in TV panel prices for June 2025, while monitor and laptop panel prices remained stable [1] - The forecast indicates that the price of 32-inch TV panels will remain unchanged, while 43-inch, 50-inch, and 55-inch panels are expected to drop by 1 USD [1] - For larger sizes, 65-inch and 75-inch TV panels are projected to decrease by 1 to 2 USD [1]

Group 1 - The core viewpoint is that China's OLED display panel and module output value will exceed 100 billion RMB in 2024, representing a year-on-year growth of 38% and capturing 52% of the international market share [1] - The small screen industry has attracted over 200 billion RMB in investments, involving more than 500 companies and creating employment for over 100,000 people [1] - China's OLED output value has surpassed 100 billion RMB, accounting for more than half of the global market, which has driven the new display industry's output value to exceed 100 billion USD [1]

Core Viewpoint - In June 2025, prices for certain television panels have decreased, while prices for monitor and laptop panels have remained stable [1][4]. Group 1: Television Panels - The average price for a 65-inch television panel is $176, down by $1 or 0.6% from the previous month, with a range between $171 and $180 [5]. - The average price for a 55-inch television panel is $126, also down by $1 or 0.8%, with a range between $121 and $129 [5]. - The average price for a 43-inch television panel is $65, down by $1 or 1.5%, with a range between $63 and $66 [6]. - The average price for a 32-inch television panel is $36, with a range between $35 and $37 [6]. Group 2: Monitor Panels - In June, prices for monitor panels have remained unchanged from the previous month [7]. - The average price for a 27-inch IPS panel is $63, with a range between $57.6 and $65.8 [8]. - The average price for a 23.8-inch IPS panel is $49.9, with a range between $47.1 and $51.4 [8]. Group 3: Laptop Panels - In June, prices for laptop panels have also remained stable compared to the previous month [10]. - The average price for a 17.3-inch TN panel is $38.3, with a range between $37.7 and $39.8 [10]. - The average price for a 15.6-inch Value IPS panel is $40.3, unchanged from the previous month, with a range between $38.6 and $41.9 [10]. - The average price for a 14.0-inch TN panel is $26.9, with a range between $26.4 and $28.1 [10]. - The average price for an 11.6-inch TN panel is $25.1, with a range between $24.2 and $26.5 [10].