Omdia显示研究总经理谢勤益表示，2025年第二季度LCD电视面板出货量为5740万片，创2019年以来单 季最低水平，标志本轮景气循环触底，同时反映电视市场出货量呈现萎缩。 2025年4月、5月和6月的LCD电视面板出货量分别为1870万片、1950万片和1910万片，均创下自2019年 以来同期（月度）最低水平。由此，2025年第二季度总出货量为5740万片，创下自2019年以来第二季度 的最低纪录。此外，2025年上半年面板出货量也创下自2019年以来上半年表现的最弱水准。 Omdia 表示，自2019年以来，LCD电视面板出货量持续呈现下滑趋势，反映出以出货量为基础的市场增 长已趋于成熟。当前LCD电视的增长动能正转向以面积为基础的扩张，这意味着尽管数量需求正在放 缓，但对大尺寸面板的需求却持续增加。50英寸及以下的LCD电视面板出货量逐年减少；而大尺寸（55 英寸及以上），特别是超大尺寸（85英寸及以上）的需求则保持逐年增长。 Omdia统计显示，2025年第二季度各月份（4月、5月与6月），LCD电视面板出货量均创下自2019年以 来最低单月水平。此状况使得电视品牌与OEM厂商对2025年下半年 ...

Core Viewpoint - The transfer of 30% equity of Rainbow Optoelectronics to BOE is aimed at optimizing business structure and focusing on growth opportunities in the new display industry while maintaining control over Rainbow Optoelectronics [1][3]. Group 1: Equity Transfer Details - On July 25, Rainbow Co., Ltd. announced the completion of the transfer of 30% equity of its subsidiary Rainbow Optoelectronics to BOE, resulting in Rainbow Co., Ltd. holding 69.79% of the equity [1]. - Rainbow Optoelectronics operates a G8.6 TFT-LCD panel production line, which was built with an investment of 28 billion yuan, primarily producing LCD TV panels ranging from 32 inches to 100 inches with ultra-high resolutions (8K, 4K) [1]. Group 2: Financial Projections - Rainbow Co., Ltd. forecasts the operating revenue of Rainbow Optoelectronics from 2025 to 2031 as follows: 10.22 billion yuan, 10.83 billion yuan, 10.84 billion yuan, 10.85 billion yuan, 10.85 billion yuan, and entering a perpetual revenue of 10.85 billion yuan in 2031 [3]. Group 3: Industry Context and Strategic Intent - The LCD display panel industry has reached a stable market structure, with manufacturers in mainland China dominating the sector, leading to a dynamic balance of supply and demand [3]. - The equity transfer is part of a strategy to enhance the company's resilience to risks by reallocating resources towards the more promising substrate glass business [3]. - BOE's acquisition aligns with its strategic goals to strengthen its competitive advantage and overall business capabilities in the industry [3].

Core Viewpoint - The acquisition of a 30% stake in Rainbow Optoelectronics by BOE Technology Group reflects the strategic needs of both parties in the current industry landscape, aiming to enhance competitive advantages and optimize business structures [4][10]. Group 1: Company Overview - Rainbow Holdings announced that BOE Technology Group won the right to acquire a 30% stake in its subsidiary, Rainbow Optoelectronics, for approximately 484.86 million yuan [1]. - Rainbow Optoelectronics operates a G8.6 TFT-LCD panel production line, which was built with an investment of 28 billion yuan, primarily producing high-resolution LCD TV panels [2][6]. - After the transfer, Rainbow Holdings will retain a 69.79% stake in Rainbow Optoelectronics, maintaining its status as the controlling shareholder [3]. Group 2: Financial Performance - In 2024, Rainbow Holdings is projected to achieve total revenue of 11.664 billion yuan, a year-on-year increase of 1.73%, with LCD panel business revenue of 10.291 billion yuan, up 0.33% [6]. - The net profit attributable to the parent company is expected to reach 1.24 billion yuan, reflecting a significant year-on-year growth of 87.55% [6]. - Despite positive performance, the company faces structural risks due to its heavy reliance on the G8.6 production line and concentration in the TV panel market [6][7]. Group 3: Industry Context - The LCD panel industry has reached a dynamic balance in supply and demand, with Chinese manufacturers dominating the market [6]. - The acquisition by BOE is part of a broader trend of consolidation in the LCD industry, as companies seek to enhance their market positions through strategic mergers and acquisitions [10][11]. - The ongoing trend of resource concentration among leading companies is expected to reshape the industry landscape, with potential for further acquisitions as firms pivot towards OLED production lines [10][11].