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集邦示警TV面板市况不妙 品牌大砍单…群创、友达戒备
Jing Ji Ri Bao· 2025-04-21 23:35
集邦科技研究副总范博毓表示,由于整体需求回档,当下面板厂的态度比首季保守,也因此,4月电视 面板价格将由首季的涨价态势全面转为持平。 范博毓分析,4月电视面板需求开始修正,主要是品牌客户库存已增加到一定水位,加上川普政府的关 税措施后续仍充满不确定性,大多数品牌厂从4月开始下修订单,仅少数客户第2季增加面板需求。 集邦观察,主要电视品牌客户第2季采购量预估仅季增2%,较前一版本下修不少。考量近期电视面板报 价已从首季上扬格局转为平盘,随着需求走弱,后续报价走势承压,面板厂期望透过5月以产能调控策 略因应,借此让供需趋于稳定,以降低后续价格下跌风险。 面板市况急转直下,研调机构集邦科技(TrendForce)昨(21)日示警,电视需求本季起走弱,大多数 电视品牌本月下修订单,使得本季电视面板采购量恐仅季增2%,远不如预期。 展望后市,面板双虎同声认为美国关税政策是最大不确定性。群创董事长洪进扬坦言,关税议题确实让 客户们下急单抢拉货,但也可能导致下半年传统旺季需求受影响,面临"旺季不旺"压力。 法人指出,电视面板是目前面板业者最重要的出海口,随着电视品牌厂下修订单,将不利面板产业,群 创(3481)、友达(24 ...
友达、群创等6家面板厂公布3月营收
WitsView睿智显示· 2025-04-10 10:01
【WitsView整理】 4月9日,友达、群创、彩晶、凌巨、铼宝、华凌6家台湾地区面板厂商公布 2025年3月营收,具体情况如下: 友达 友达光电公布2025年3月营收为新台币258.53亿元 (约人民币57.47亿元) ,同比增加21.93%。 2025年第一季度,公司营收约为721.02亿新台币(约人民币160.28亿元),同比增长21.23%。 | 项目 | 营业收入净额 | | --- | --- | | 本月 : | 25,852,917 | | 去年同期 : | 21,203,584 | | 增减金额: | 4,649,333 | | 增减百分比: | 21.93 | | 本年累计: | 72,101,871 | | 去年累计: | 59,477,331 | | 增减金额: | 12,624,540 | | 增减百分比: | 21.23 | | 备注/营收变化原因说明 : | | 群创 2025年第一季度,公司营收约为559.32亿新台币 (约人民币124.34亿元 ) ,同比增长10.77%。大 尺寸合并出货量共计2,508万片,较上季减少2.7%;中小尺寸合并出货量共计8,506万片,较上季增 ...
晨报|“对等关税”,影响几何?
中信证券研究· 2025-04-08 00:20
风险因素:政策执行力度不及预期;自然灾害导致农产品减产;粮食价格剧烈波动。 农林牧渔|反制关税提振农产品价格,种植链直接受益 反制关税措施之下,农业种植产业链是稀缺的、直接受益的板块。第一,本轮关税风 暴再次凸显粮食安全的极端重要性。种源自主可控,已成为保障国家粮食安全的重中 之重。种业和粮食种植板块或将再受政策强力支持。第二,农产品价格或有提振,直 接带来种业、种植公司业绩增长预期;农产品加工板块预计也将出现结构性机会。 风险因素:关税政策再次调整风险;农产品价格超预期波动风险;产业支持政策不及 预期风险。 盛夏|中信证券 农林牧渔和食品饮料行业首席分析师 S1010516110001 农林牧渔|聚焦粮食安全与科技创新,夯实农业强国根基 规划文件定位为未来十年中央农村工作的顶层设计文件,是中长期农业产业政策的重 要风向标。规划聚焦粮食安全与科技创新,强调筑牢农业强国的物质基础与科技根 基。粮食安全方面,强调耕地保护与产能提升双管齐下。科技创新方面,种业被定位 为农业科技创新的重中之重,将成为发展农业新质生产力的主要方向。规划为种业、 粮食种植等板块提供了中长期政策红利和政策确定性。推荐种子和粮食种植板块。另 ...
4月2日早间重要公告一览
Xi Niu Cai Jing· 2025-04-02 04:54
Group 1: Company Performance - Western Gold achieved operating revenue of 7.001 billion yuan in 2024, a year-on-year increase of 56.68%, and net profit of 290 million yuan, turning from loss to profit [1] - Jihong Co. reported operating revenue of 5.529 billion yuan in 2024, a year-on-year decrease of 17.41%, with net profit down 47.28% to 182 million yuan [2] - Sanli Co. achieved operating revenue of 227 million yuan in 2024, a year-on-year increase of 14.35%, but reported a net loss of 49.88 million yuan, narrowing the loss by 56.50% [2] - Sanli Co. reported operating revenue of 2.590 billion yuan in 2024, a year-on-year increase of 25.25%, with net profit of 68.09 million yuan, up 59.07% [4] - Huaiqi Mountain achieved operating revenue of 1.631 billion yuan in 2024, a year-on-year increase of 15.60%, with net profit of 196 million yuan, up 17.74% [6] - Huayuan Holdings reported operating revenue of 2.449 billion yuan in 2024, a year-on-year increase of 1.60%, with net profit of 70.74 million yuan, up 739% [8] - Hangfa Power achieved operating revenue of 47.880 billion yuan in 2024, a year-on-year increase of 9.48%, but net profit decreased by 39.48% to 860 million yuan [10] - Zhongcai Energy reported operating revenue of 2.324 billion yuan in 2024, a year-on-year decrease of 24.21%, with net profit down 94.70% to 760,240 yuan [10] - Longxing Technology achieved operating revenue of 4.355 billion yuan in 2024, a year-on-year increase of 1.95%, with net profit of 142 million yuan, up 28.70% [11] - Jinying Co. reported operating revenue of 1.308 billion yuan in 2024, a year-on-year decrease of 4.52%, with net profit down 36.73% to 22.35 million yuan [12] - Zhujiang Co. achieved operating revenue of 1.558 billion yuan in 2024, a year-on-year decrease of 52.38%, but net profit turned to profit at 15.57 million yuan [12] - Chuanwang Media reported operating revenue of 288 million yuan in 2024, a year-on-year increase of 20.05%, but net profit decreased by 24.02% to 23.80 million yuan [13] - Ronglian Technology achieved operating revenue of 2.022 billion yuan in 2024, a year-on-year decrease of 14.91%, with net profit of 28.11 million yuan, up 107.87% [13] - Oufeiguang reported operating revenue of 20.437 billion yuan in 2024, a year-on-year increase of 21.19%, but net profit decreased by 24.09% to 58.38 million yuan [14] Group 2: Dividend Proposals - Western Gold proposed a cash dividend of 0.5 yuan per 10 shares [1] - Jihong Co. proposed a cash dividend of 1.58 yuan per 10 shares [2] - Sanli Co. proposed a cash dividend of 1.50 yuan per 10 shares [4] - Huaiqi Mountain proposed a cash dividend of 4.00 yuan per 10 shares [6] - Huayuan Holdings proposed a cash dividend of 1.00 yuan per 10 shares [8] - Hangfa Power proposed a cash dividend of 0.97 yuan per 10 shares [10] - Zhongcai Energy proposed a cash dividend of 0.05 yuan per 10 shares [10] - Longxing Technology proposed a cash dividend of 1.20 yuan per 10 shares [11] - Jinying Co. proposed a cash dividend of 1.00 yuan per 10 shares [12] - Zhujiang Co. proposed a cash dividend of 1.25 yuan per 10 shares [12] - Chuanwang Media proposed a cash dividend of 1.25 yuan per 10 shares [13] - Ronglian Technology proposed a cash dividend of 0.0425 yuan per share [13] - Oufeiguang proposed a cash dividend of 0.0178 yuan per share [14]
群创已成立新公司,专攻Micro LED技术
WitsView睿智显示· 2025-03-27 07:06
Group 1 - The core viewpoint of the article highlights the establishment of Advanced MicroLux by Innolux, focusing on MicroLED technology development and manufacturing, led by former chairman Wang Zhichao [1][3] - Innolux has been actively investing in MicroLED technology, collaborating with eLux to simplify mass transfer and repair processes through color conversion technology, which aims to reduce production costs and improve yield rates [3][4] - The company has already implemented MicroLED technology in automotive and large-sized televisions, with plans for mass production in 1-2 years for large displays and 2-3 years for automotive displays [3][4] Group 2 - The new company, Advanced MicroLux, is expected to not only serve the group but also market its new mass transfer technology externally, enhancing the group's strategic positioning in the MicroLED sector [4] - The article mentions that the MicroLED market is still in the early stages of mass production, indicating that further time is needed for various panel manufacturers to advance in this area [4] - A detailed report on MicroLED market trends and technology cost analysis is set to be published, covering various applications including large displays, wearable devices, and automotive displays [6]
【国信电子胡剑团队|LCD行业月报】预计3月LCD TV面板价格延续增长
剑道电子· 2025-03-26 03:26
点击 关注我们 报告发布日期:2025年3月20日 报告名称:《LCD行业月报- 预计3月LCD TV面板价格延续增长 》 分析师:胡剑 S0980521080001/胡慧 S0980521080002/ 叶 子 S0980522100003 / 詹浏洋 S0980524060001 / 张大为 S0980524100002/李书颖S0980522100003 联系人:连欣然 完整报告请扫描下方二维码 国信研究 LCD行业月报-预计3月LCD TV面板价格延 续揭长 2025-03-20 | 胡剑 胡慧 叶子 张大为 连欣然 行情&业绩回顾:2025年2月至今面板(申万)指数 上涨2.24%,3Q24中国主要LCD厂商平均毛利率同环比下 滑行情回顾:2025年2月至今面板(申万)指数上涨2.24% ,跑输上证指数、深证成指、沪深300指数1.09pct、3.4 8pct、0.24pct;其中深天马A、龙腾光电分别上涨1.07% 、1.35%,京东方A、TCL科技、彩虹股份分别下跌3.36 %、6.39%、8.14%。估值方面,截至3月13日A股面板行 业总市值5624.67亿元,整体PB (LF) 为1.61 ...
电子行业周度报告:关注英伟达GTC大会-2025-03-18
Jinyuan Securities· 2025-03-18 01:17
Investment Rating - The report maintains an "Overweight" rating for the electronic industry [3][41]. Core Insights - The domestic electronic industry experienced a slight decline of 0.62% last week, with a valuation percentile of 80% over the past 10 years, indicating strong domestic performance compared to overseas semiconductor indices [3][8]. - Notable individual stocks that performed well include Shenghong Technology, Litong Electronics, Nanya New Materials, and Jianghai Co., which have gained market recognition [3][8]. - The semiconductor sector saw a year-on-year export growth of 11.91% in the first two months of 2025, with the top ten wafer foundries expected to achieve record revenues in Q4 2024 [4][26]. Industry Data Tracking - The DRAM market is showing signs of recovery, particularly for DDR5 products, with SK Hynix experiencing strong demand and prices rising to $4.95 per unit [10]. - The eMMC market is also seeing steady price increases, driven by strong demand despite limited transaction volumes [11]. - China's integrated circuit exports reached $25.104 billion, reflecting a significant increase in trade activity [26]. Key Industry News - The smartphone production is expected to increase by 9.2% in Q4 2024, driven by Apple's production peak and consumer subsidies in China [30]. - The PC market in mainland China is projected to grow by 3% in 2025, following a rebound in Q4 2024 [30]. - The panel market is facing potential price increases due to U.S. tariff policies, which may affect future pricing strategies [32]. Company Announcements - Shenghong Technology reported a net profit increase of 272.12% to 367.54% for Q1 2025 compared to the previous year [34]. - The company Xinyuan Micro plans to acquire Aisheng for its display driver chips and related technologies [40]. - Huahai Chengke is set to acquire a 70% stake in Hengsuohuawei, a semiconductor packaging materials company, for 1.12 billion yuan [38].
电子行业周度报告:关注英伟达GTC大会
Jinyuan Securities· 2025-03-18 01:17
Investment Rating - The report maintains an "Overweight" rating for the electronic industry [3][41]. Core Insights - The domestic electronic industry experienced a slight decline of 0.62% last week, with a valuation percentile of 80% over the past 10 years, indicating strong relative performance compared to overseas semiconductor indices [3][8]. - Notable individual stocks that performed well include Shenghong Technology, Litong Electronics, Nanya New Materials, and Jianghai Co., which have gained market recognition [3][8]. - The semiconductor sector saw a year-on-year export growth of 11.91% in the first two months of 2025, with the top ten wafer foundries expected to achieve record revenues in Q4 2024 [4][26]. - The smartphone production is projected to increase by 9.2% in Q4 2024, driven by Apple's production peak and subsidy policies in China [5][30]. - The report highlights the upcoming NVIDIA GTC conference as a significant event for monitoring technological advancements in AI and semiconductor sectors [41]. Industry Data Tracking - The DRAM market is showing signs of recovery, particularly for DDR5 products, with prices rising due to strong demand [10][11]. - The eMMC market is also experiencing steady price increases, although transaction volumes have not significantly surged [11]. - China's integrated circuit exports reached $25.1 billion in the first two months of 2025, marking an 11.91% increase year-on-year [26]. - The PC market in mainland China is expected to grow by 3% in 2025, following a rebound in Q4 2024 [30]. Key Industry News - The semiconductor industry is witnessing a significant increase in demand, with the top ten foundries projected to generate $38.48 billion in revenue in Q4 2024, a nearly 10% increase from the previous quarter [26][29]. - The consumer electronics sector is expected to see a modest increase in smartphone production in 2025, with a forecasted growth of 1.5% [30]. - The panel market is facing potential price increases due to tariff adjustments, which may affect procurement strategies [32]. Company Announcements - Shenghong Technology reported a net profit increase of 272.12% to 367.54% for Q1 2025 compared to the same period last year [34]. - The company Xinyuan Micro plans to acquire Aisheng Technology, which specializes in display driver chips and related products [40]. - Huahai Chengke is set to acquire a 70% stake in Hengsu Huawai, a leading semiconductor packaging materials company, for 1.12 billion yuan [38].
存储大厂涨价,关注存储产业链
Huafu Securities· 2025-03-18 00:54
➢ 风险提示 AI 大模型需求不及预期;下游终端出货不及预期;市场竞争加剧 风险;地缘政治风险;行业景气不及预期。 | + | | --- | 强于大市(维持评级) 一年内行业相对大盘走势 电子 2025 年 03 月 17 日 电子 存储大厂涨价,关注存储产业链 投资要点: ➢ 建议关注存储产业链重点公司: ➢ 德明利、江波龙、佰维存储、香农芯创、朗科科技、同有科技、 兆易创新、普冉股份、东芯股份、恒烁股份、聚辰股份、北京君正、 澜起科技等。 3、【华福电子】行业专题报告:智能驾驶大势所 趋,车载 CIS 蓄势待发——2025.02.17 证 券 研 究 报 告 诚信专业 发现价值 1 请务必阅读报告末页的声明 行 业 研 究 -0.20 -0.06 0.08 0.22 0.36 0.50 3/18 5/29 8/9 10/20 12/31 3/13 电子 沪深300 团队成员 | 分析师: | 杨钟(S0210522110003) | | --- | --- | | YZ3979@hfzq.com.cn | | | 分析师: | 郭其伟(S0210523080001) | | gqw30259@hfzq. ...
景气趋势与盈利预期改善的交集
HTSC· 2025-03-17 03:00
Group 1: Economic Trends - The economic index for the entire industry continued to rise in February, indicating an improvement in the economic climate[1] - Key areas of improvement include midstream manufacturing, consumer goods, and certain cyclical products[1] - The real estate chain is recovering with a 32% year-on-year increase in housing sales in 30 major cities in February[4] Group 2: Midstream Manufacturing - Significant improvement in midstream manufacturing, driven by demand in sectors like construction machinery, automation, and specialized equipment[2] - Excavator sales in January-February increased by 27.2% year-on-year, indicating strong demand[2] - Prices for photovoltaic materials and battery components have rebounded, suggesting a recovery in supply-demand dynamics[2] Group 3: Consumer Demand - Domestic consumption is showing signs of recovery, particularly in dairy products and travel services, benefiting from the Spring Festival[3] - The average daily passenger volume for civil aviation in February showed positive year-on-year growth, reflecting improved demand[3] - The price decline for milk has narrowed, indicating a potential price recovery in consumer goods[3] Group 4: Price Trends in Cyclical Products - Precious metals prices continued to rise, with COMEX gold prices increasing year-on-year[4] - Energy metals like cobalt and nickel are experiencing price strength, while lithium resources are showing short-term weakness[4] - Chemical products such as PVC and urea have seen price improvements, indicating a positive trend in the chemical sector[4] Group 5: Risks and Considerations - Risks include the possibility of domestic economic recovery falling short of expectations and external demand not meeting projections[6] - There is a potential risk of model failure, which could impact forecasts and investment strategies[6]