2025年第二季度，LG Display实现营收 5.587万亿韩元 （约合人民币292.20亿元），环比减少 8%，同比减少17%；实现营业亏损1160亿韩元（约合人民币6.07亿元），上一季度的营业利润 为335亿韩元，去年同期为亏损937亿韩元；净利润为8,910亿韩元（约合人民币46.60元），上 一季度净亏损2,370亿韩元，去年同期净亏损4,710亿韩元。 2025年上半年，LG Display营收11.652万亿韩元（约合人民币609.40亿元），同比下降3%；营 业亏损826亿韩元（约合人民币4.32亿元），与去年同期相比，减亏了4805亿韩元（去年同期收 入为11.961万亿韩元，营业亏损为5631亿韩元）。 7月24日，LG Display公布了2025年第二季度业绩。 图片来源：LG Display LG Display表示，由于第二季度是传统的淡季，在下半年新品发布前需求会有所下降，因此移动 产品出货量环比下降。此外，本期业绩还受到包括LG Display退出液晶电视业务（转而推进以 OLED为中心的业务结构的战略）、韩元兑美元汇率走弱因素影响。 得益于汇率波动和其他收益带来的外汇收益 ...

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]

Core Viewpoint - Harbin Weidi Electronics Co., Ltd. reported a net profit of 5.06 million yuan for 2024, with a significant recovery from previous losses, but the gross margin dropped to 15.18% in Q1 2025 from 26.57% in 2024, indicating a structural change in the business model and product mix [1][3][4]. Business Performance - The company achieved a net profit of 5.06 million yuan in 2024, with a non-recurring net profit of 4.15 million yuan, both showing a turnaround from negative figures [1]. - The gross margin for 2024 was 26.57%, which increased by approximately 2.73 percentage points year-on-year, but fell to 15.18% in Q1 2025 [1][3]. Customer and Sales Structure - The company disclosed its top ten customers for 2024 and Q1 2025, primarily in commercial vehicle electronics, with a total sales amount of 6,021.95 million yuan, accounting for 92.31% of sales [2][3]. - The sales structure includes direct sales to major clients, with credit terms varying from payment upon delivery to one-month installments [2]. Gross Margin Fluctuation - The significant drop in gross margin in Q1 2025 is attributed to a change in the sales mix, with the share of high-margin commercial vehicle electronics decreasing from 99.42% in 2024 to 34.99% in Q1 2025 due to the introduction of new passenger vehicle electronic products [3][4]. - The gross margin for commercial vehicle electronics improved slightly from 26.62% in 2024 to 28.98% in Q1 2025, while the margin for passenger vehicle electronics was reported at 12.27% [3][8]. Inventory and Impairment - The year-end inventory balance was reported at 108 million yuan, with an increase of approximately 16.40% year-on-year, and the provision for inventory impairment decreased by 75.26% to 1.33 million yuan [9][10]. - The company’s inventory impairment provision ratio decreased from 14.19% in 2023 to 11.94% in 2024, indicating a lower risk of impairment due to the addition of passenger vehicle electronics inventory, which has a lower impairment risk [10][12]. Accounts Receivable - The year-end accounts receivable balance was 45.84 million yuan, reflecting a 50.34% increase, while the provision for bad debts decreased to 9.88 million yuan, with the provision ratio dropping from 35.55% to 17.98% [20][21]. - The significant decrease in the bad debt provision ratio is attributed to an increase in accounts receivable that are less than one year old, which have a higher collection rate [21].

【IT之家】 5月6日，LG Display宣布，将参加于5月13日在美国加利福尼亚州圣何塞举办的SID Display Week 2025，届时将展示面向汽车领域的未来显示技术。 其中的亮点产品是一款名为"Driving the Future"的可拉伸汽车显示屏，该技术专注于为电动汽车等 高科技汽车解决方案提供大尺寸、自适应且沉浸式的显示技术。 图片来源：LG Display 据介绍，这款显示屏可安装在车辆的中控台上，能够扩展至其原始尺寸的150%，在拉伸过程中不 会损失分辨率或色彩保真度，依然能保持每英寸100像素（ppi）和全RGB色彩质量。 其独特之处在于，该屏幕能够让触控按键凸起，即使在驾驶过程中也能轻松操作。LG Display表 示，这是一种可将车内任何空间都变成显示屏的可拉伸汽车显示解决方案，其面板质量与普通屏 幕相当。 #LGD #车用显示 #OLED 【WitsView面板产业交流群】 ▶ 关于集邦 该技术有望消除对单独的汽车显示屏和物理按钮的需求，将两者无缝整合为一个单元。通过简单 的触摸操作，平面显示屏可以变成凸起的触控按钮，方便用户在驾驶过程中操作。 此外，LG Display还在研 ...