TrendForce集邦咨询日前公布2月面板价格趋势预测：2026年2月，电视面板价格预计将延续上涨态势， 显示器面板部分尺寸价格上涨，笔电面板价格预期下跌。目前预估2月份电视面板价格有机会呈现全面 上涨趋势，32英寸、43英寸与50英寸预估上涨1美元，55英寸、65英寸与75英寸则预计上涨2美元。 ...

2026 年面板产业链值得关注的三大因素：产品价格上涨催化、国产替 代加速（泰克膜、OLED 发光材料等）、新领域技术拓展（玻璃基芯片 封装、商业航天太阳翼电池片）。 摘要 面板产业链上游材料如膜等酝酿涨价，直接推动面板价格上涨。面板行 业竞争格局改善，产能趋紧，进一步巩固涨价趋势，有望提升相关企业 毛利率。 偏光片厂商若能顺利涨价，将显著改善经营状况，提高盈利能力。面板 厂商亦可借上游涨价之势，向下游顺价，提升自身盈利水平，值得关注。 当前涨价行情中，应重点关注竞争格局良好及国产化率较低但具增长潜 力的环节，如面板本身、泰克膜、OLED 发光材料等，受益于价格上涨 和国产替代双重驱动。 面板产业链未来发展方向包括玻璃基板封装技术和商业航天太阳翼电池 片技术。群创光电与台积电合作的玻璃基芯片封装已批量出货，京东方 布局钙钛矿太阳翼电池片。 新兴业务如玻璃基芯片封装和太阳翼电池片所需资本开支相对较小，可 沿用部分现有产线和工艺，投入产出比更高，群创光电的案例验证了这 一趋势。 面板产业链的涨价趋势主要由供给侧和需求侧两方面因素推动。从供给侧来看， 上游原材料价格上涨是主要原因。例如，偏光片及其上游材料如泰格膜、 ...

Summary of Panel Industry Conference Call Industry Overview - The panel industry is experiencing a mixed demand situation, with brand manufacturers maintaining high procurement levels despite declining sales data. In Q4, procurement in mainland China is expected to remain flat year-on-year at 23 million units, indicating positive market demand expectations despite inventory accumulation [1][3] - The global panel shipment volume is projected to reach 246 to 247 million units in 2025, with a slight increase expected in 2026. The overall shipment area is anticipated to grow by approximately 2%, driven by sustained high levels of small and medium-sized panel shipments [1][6] Key Insights and Arguments - **Demand Drivers**: Several factors are expected to positively influence demand in the first half of next year, including potential continuation of subsidy policies in mainland China, promotional events like the 618 shopping festival, and international events such as the World Cup and Winter Olympics. If the U.S. government issues additional subsidies, consumer demand could be further stimulated [1][4] - **Price Trends**: Panel manufacturers believe current prices are near the bottom, leading to price increases starting in November. Smaller clients are already feeling the pressure, while larger clients are expected to negotiate price increases in January. The ability of panel manufacturers to coordinate production during the Chinese New Year will significantly impact price increases in Q1 [1][4] - **Supply and Production Rates**: The current supply-demand situation in the LCD market shows a slight oversupply, with an excess rate of 13%-14% without considering capacity depreciation, and 11%-12% when accounting for it. The trend towards larger sizes and the retirement of older generations may lead to a tightening of LCD capacity in the next two to three years [3][15] Additional Important Points - **Inventory Management**: Brand manufacturers are expected to increase procurement in December and January to avoid supply shortages due to delayed factory operations after the late Chinese New Year. This procurement peak is anticipated to last until April or early May [1][4] - **Market Segmentation**: The demand for large and ultra-large televisions (65, 75, 85, 98, and 100 inches) remains strong, particularly in North America where prices are very competitive. The average price for a 100-inch TV is below $1,000, making these products attractive to consumers [7][8] - **Regional Performance**: By the end of 2025, the average screen size in North America is expected to reach 52 inches, while mainland China could see an average of 63 inches. Other regions like Southeast Asia and Oceania are projected to have average sizes around 45 inches [9] - **Profitability Challenges**: Current low panel prices are making it difficult for hardware manufacturers to achieve profitability. Rising costs of other raw materials are increasing overall production costs, leading many manufacturers to rely on software platforms for advertising revenue to offset hardware losses [5] Conclusion - The panel industry is navigating a complex landscape with mixed demand signals and pricing pressures. While there are positive indicators for future demand, particularly for large screens, manufacturers must carefully manage production and inventory to optimize profitability in a challenging market environment.

Core Viewpoint - The article discusses the sale of a 10% stake in LG Display (China) by Skyworth Group to LG Display (Guangzhou) for 1.3 billion yuan, marking Skyworth's exit from the investment, which is perceived as a "fire sale" given the significant undervaluation of the asset [1][5][13]. Group 1: Transaction Details - Skyworth's subsidiary signed an agreement to sell a 10% stake in LG Display (China) for 1.3 billion yuan, after which Skyworth will no longer hold any shares in the company [1][5]. - The sale price represents a significant discount, with the book value of the shares being approximately 740 million yuan, indicating a sale at about 55.5% and 62.7% of their book value [13][14]. - Skyworth aims to use the proceeds from the sale to improve liquidity and fund other business operations [14]. Group 2: Industry Context - LG Display's Guangzhou factory is a critical asset in the Chinese panel industry, with a total investment of 4 billion USD and a production capacity of 180K, contributing to 4% of the global TV panel market [10][11]. - The factory's operational challenges, including a drop in utilization rates to around 50%, have led to speculation about its future, with TCL and BOE expressing interest in acquiring the asset [8][10]. - The sale of the factory is seen as a reflection of the broader struggles within the global panel industry, where LG Display is shifting focus towards OLED and MLED technologies [10][11]. Group 3: Company Performance - Skyworth's revenue declined by 6.6% year-on-year to 29.83 billion yuan in the first half of the year, despite a slight increase in gross profit [19][21]. - The company has reduced its workforce by 3,000 employees while simultaneously increasing investment in facilities and equipment by over 60% to 342 million yuan [21]. - Skyworth's reliance on its home appliance segment, particularly TVs, has increased, with this segment accounting for 51.7% of total revenue, while other segments like new energy have seen significant declines [21][22].