CINNOResearch产业资讯，根据韩媒报道，TCL华星最早将于本月公布第8代喷墨打印OLED产线的投资计划。 8月6日，在首尔举办的K-Display产业论坛主题演讲结束后，TCL华星技术规划中心主任周明忠在被记者问及"第8代喷墨打印OLED投资进展情 况"时简短回应："将于本月或下月公布。"近期，显示行业不断有观点认为，TCL华星第8代喷墨打印OLED投资计划的公布已临近。 行业一位相关人士表示："与此前预计TCL华星7月左右公布第8代喷墨打印OLED投资计划相比，现在稍有延迟。"另一位相关人士则称："TCL 华星在公布相关投资计划前，将与地方政府就投资规模等事宜进行最终商议。" TCL华星曾在2020年公布第8代喷墨打印OLED"T8项目"，但此后未公布具体日程。不过，自去年下半年以来，行业内普遍预计TCL华星将在 2025年内决定是否投资第8代喷墨打印OLED。 当被记者问及"喷墨打印OLED中蓝色器件的相对尺寸"时，他回答："将与其他红色和绿色器件相近。"在FMMOLED中，由于蓝色器件效率较 低，其尺寸大于红色和绿色器件。TCL华星过去展出的喷墨打印OLED中，红、绿、蓝等器件尺寸相同，但近期 ...

Core Viewpoint - The panel prices for televisions are expected to stabilize in August 2025, while monitor and laptop panel prices remain unchanged [2][4]. Television Panels - The average price for 65-inch television panels is projected to be $172, a decrease of $1 or 0.6% from the previous month, with a range between $166 and $175 [6]. - The average price for 55-inch television panels is expected to be $123, also down by $1 or 0.8%, with a minimum of $117 and a maximum of $125 [6]. - The average price for 43-inch television panels is forecasted at $64, with a minimum of $62 and a maximum of $65 [7]. - The average price for 32-inch television panels is anticipated to be $35, with a minimum of $34 and a maximum of $36 [8]. Monitor Panels - The prices for monitor panels are expected to remain stable [10]. - The average price for 27-inch IPS panels is projected to be $63, with a minimum of $57.6 and a maximum of $65.8 [11]. - The average price for 23.8-inch IPS panels is expected to be $49.9, with a minimum of $47.1 and a maximum of $51.4 [12]. Laptop Panels - The prices for laptop panels are also expected to stay unchanged [14]. - The average price for 17.3-inch TN panels is stable at $38.3, with a minimum of $37.7 and a maximum of $39.8 [14]. - The average price for 15.6-inch Value IPS panels is projected to remain at $40.3, with a minimum of $38.6 and a maximum of $41.9 [14]. - The average price for 14.0-inch TN panels is stable at $26.9, with a minimum of $26.4 and a maximum of $28.1 [14]. - The average price for 11.6-inch TN panels is stable at $25.1, with a minimum of $24.2 and a maximum of $26.5 [14].

Core Insights - The global digital entertainment event ChinaJoy 2025 opened in Shanghai, showcasing TCL Huaxing's comprehensive esports display solutions in collaboration with partners like Samsung and Lenovo [1] Group 1: Company Developments - TCL Huaxing's CEO Zhao Jun highlighted that mid-sized OLED will be a significant industrial opportunity in the coming years, with a strategic focus on printed OLED technology for various applications [3] - The company aims to address traditional OLED challenges such as high costs, low yield, and limited form factors through printed OLED technology, with the first showcase being a medical display [3] - TCL Huaxing entered the esports display market in 2019 and has since become a leader, with its screens accounting for one in three esports displays globally from 2022 to 2024 [4] Group 2: Market Trends - The rise of foldable smartphones presents new opportunities for panel manufacturers, with TCL Huaxing continuously developing related technologies for future products [4] - There has been a decline in production capacity utilization for large TV displays since Q2, attributed to preemptive customer stocking in Q1, leading to a temporary drop in panel prices [4][5] - A forecast for Q3 indicates a 3-4% increase in TV panel shipments compared to Q2, driven by seasonal demand and inventory adjustments [5] Group 3: Industry Outlook - The panel industry has seen a shift from high volatility to more stable operations, with manufacturers adjusting production rates based on demand to avoid inefficient price competition [5] - TCL Huaxing has been exploring production strategies since 2022, transitioning from full production to demand-based manufacturing, which is expected to benefit the industry and the company in the long term [5]

Financial Data and Key Indicators Changes - In Q2 2025, sales declined by 8% quarter-over-quarter (QoQ) to KRW 87 trillion, representing a 17% year-over-year (YoY) decline due to the seasonal off-peak period for smartphones and the termination of the LCD TV business [3][4] - Operating profit posted a loss of KRW 116 billion, influenced by the stronger Korean won and the end of the LCD TV business [3] - Cumulative sales for the first half of the year amounted to KRW 11.652 trillion, with an operating loss of KRW 82.6 billion, although operating loss improved by KRW 480.5 billion YoY [4] - Net income turned positive at KRW 89.8 billion, driven by improved foreign exchange gains and non-operating income [4] - EBITDA for Q2 stood at KRW 1.054 trillion, maintaining an EBITDA margin of approximately 19% for the seventh consecutive quarter [4] Business Line Data and Key Indicators Changes - Q2 shipment area decreased by 26% QoQ due to the termination of the LCD TV business, aligning with guidance of a mid-twenty percent decrease [5] - Average Selling Price (ASP) per square meter increased by 32% QoQ to $10.56, attributed to the exit from the LCD TV business [5] - TV revenue accounted for 20% of total sales, down two percentage points QoQ, while mobile and others declined to 28% due to weak panel shipments [6] - The automotive segment grew to 10% of total revenue, with the OLED portion increasing to 56% [7] Market Data and Key Indicators Changes - The smartphone business showed a meaningful shipment growth of over 20% YoY, with expectations to outperform last year's full-year performance [26] - The medium panel IT OLED segment is expected to address new high-end market demand, while the demand for medium-sized panel products is projected to grow slightly [30] - Large OLED panel shipments are expected to reach the mid-six million range, an increase over the previous year, with continuous growth in both panel shipments and set sales [34] Company Strategy and Development Direction - The company is committed to restructuring around OLED technology, focusing on technological differentiation, product quality enhancement, and cost innovation [10][11] - Investment in new OLED technology is planned, with a total investment amount of KRW 1.26 trillion over the next two years [19] - The company aims to solidify its leadership in the premium market with a diverse OLED panel lineup and improve profitability through cost improvements [13] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing macroeconomic uncertainties but expressed confidence in performance improvement in the second half of the year [11][22] - The company expects a steep rebound in performance driven by expansion across both large and small OLED panel businesses [11] - Management emphasized the importance of establishing a cost structure that ensures stable profitability despite external changes [35] Other Important Information - Cash and cash equivalents at the end of Q2 amounted to KRW 1.666 trillion, with a debt ratio of 268% and net debt to equity ratio at 155%, both showing significant decreases [7][8] - CapEx for the year is expected to be in the low KRW 2 trillion range, similar to last year, with a focus on investment efficiency [15] Q&A Session Summary Question: OLED technology investment and future performance - The company is shifting focus from LCD to OLED, with a KRW 1.26 trillion investment planned for new OLED technology over two years [19][20] - Performance improvement is expected to continue, with a commitment to turning a profit for the full year of 2025 [22][23] Question: Smartphone business outlook and tablet OLED panel shipments - The smartphone business is expected to grow, with a meaningful shipment increase planned for the second half [26] - Tablet OLED shipments are anticipated to increase YoY, despite a sluggish global IT market [27][28] Question: Medium panel LCD business strategy and profitability - Demand for medium-sized panels is expected to grow slightly, with a focus on B2B and high-end areas to improve profitability [30][31] Question: Large OLED panel sales outlook and monitor opportunities - Large OLED panel shipments are on track to meet original plans, with expected growth in both panel shipments and set sales [34][35]

Core Viewpoint - The average utilization rate of domestic TFT-LCD panel manufacturers in China is expected to decline by 1-2 percentage points quarter-on-quarter in Q3 2025 [1]. Summary by Sections Section 1: Current Utilization Rates - The report provides statistics on the average utilization rates of various LCD production lines in China for Q2 2025, including specific data for major manufacturers such as BOE, CSOT, TM, HKC, and CHOT [4]. Section 2: Future Predictions - A forecast for the average utilization rate of TFT-LCD panel manufacturers in China for Q3 2025 indicates a slight decrease compared to the previous quarter [1].

Group 1: Panel Price Trends - In July 2025, TV panel prices declined while monitor and laptop panel prices remained stable, influenced by brand customers adjusting their procurement orders for Q3 [1] - The average price for 32-inch and 43-inch TV panels is expected to drop by $1, while 50-inch and 55-inch panels will decrease by $2, and 65-inch and 75-inch panels will fall by $3 [3] - The overall trend for monitor panels has shifted to a stable state due to slowing demand and the impact of declining TV panel prices [4] Group 2: Market Demand and Supply - TV panel demand remains weak in July, with brand customers managing inventory through order adjustments and using this as leverage for negotiations [1] - Despite expectations for a potential increase in monitor panel prices, demand has shown signs of slowing, with only a few specifications experiencing minor supply shortages [4] - Laptop panel demand is anticipated to perform well in July and August, but manufacturers are hesitant to raise prices, opting instead for discounts to maintain customer relationships [5]

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]

Core Viewpoint - The panel prices are expected to decline in July 2025, particularly for TV panels, while monitor and laptop panel prices are anticipated to remain stable [3][4][6]. Group 1: TV Panels - Demand for TV panels remains weak, leading some brand clients to adjust their procurement orders for Q3 while negotiating better prices with panel manufacturers [3][4]. - The forecast indicates a price drop of $1 for 32-inch and 43-inch panels, and a $2 drop for 50-inch, 55-inch, 65-inch, and 75-inch panels [4]. Group 2: Monitor Panels - The demand for monitor panels has also shown signs of slowing down, with only a few specifications experiencing slight supply shortages [4]. - The overall price trend for monitor panels is expected to stabilize, influenced by the declining prices of TV panels [4]. Group 3: Laptop Panels - There is a slight increase in optimism regarding the demand for laptop panels, with brand clients becoming more proactive in negotiations for better pricing [6]. - The overall price for laptop panels is expected to remain stable in July, with future price movements dependent on negotiations between brand clients and manufacturers [6].

Core Viewpoint - The article discusses the impact of domestic subsidy policies and international tariff changes on the panel market, indicating a downward trend in panel prices due to weakened demand and supply conditions [2][3][4]. Group 1: Market Demand - In June, tightening of national subsidy policies in various regions affected domestic market demand expectations, leading to a general decline in panel prices [2][3]. - The "old-for-new" subsidy policy is closely linked to domestic market demand, with retail sales of home appliances showing continuous positive growth until June [4]. - The expected recovery of national subsidies in July may boost market confidence, but the overall demand in the second half of the year may still face pressure due to reduced subsidy amounts and heightened eligibility criteria [3][4]. Group 2: Market Supply - Panel suppliers have adjusted production rates in response to weakened demand, with the average utilization rate of G8.5 production lines around 73% in Q2, down approximately 4 percentage points from the previous quarter [5]. - The overall utilization rate for high-generation lines is expected to remain around 80% in July, with potential adjustments to production to stabilize panel prices [5][6]. - The article anticipates that panel prices will continue to decline in July, with price reductions of $1 to $3 expected across various panel sizes compared to June [6]. Group 3: Price Trends - The article provides a detailed price forecast for various panel sizes, indicating a continued downward trend in prices for July, with specific price points for sizes ranging from 32" to 85" [6]. - The expected prices for July are $32 for 32", $65 for 43", $92 for 50", $118 for 55", $169 for 65", $227 for 75", and $307 for 85" [6].

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]