STHC(SZ:000045)2022-12-06 11:11Group 1: Company Background and Development - Shenzhen Textile (Group) Co., Ltd. was established in 1984 and went public in 1994 [2] - The company shifted focus to the production of polarizers due to the related production processes with textiles [3] - In 1995, the company partnered with ADS to establish Shenzhen Shengbo Optoelectronic Co., Ltd., which produced the first small-sized black-and-white polarizer in 1999 [3] Group 2: Market Position and Technology - The company transitioned from traditional textile to high-tech polarizer production, with plans for four polarizer production lines for TFT-LCD applications [4] - OLED technology is expected to grow, but currently, 90% of global flat panel display investments are still in LCD technology [4] - The company is developing a production line that can manufacture both LCD and OLED polarizers [4] Group 3: Challenges and Financial Performance - The main reasons for losses in the polarizer business include small scale and weak bargaining power with suppliers [5] - In 2015, the company improved yield rates and reduced losses, but faced increased costs due to the appreciation of the Japanese yen in 2016 [5] - The current yield rate for TV polarizers is around 95%, which is below leading competitors like Nitto Denko and Sumitomo Chemical, whose yield rates are approximately 98%-99% [6] Group 4: Future Plans and Strategic Goals - The company aims to continue developing the polarizer industry as its main focus during the 13th Five-Year Plan period [6] - Plans to introduce strategic investors to enhance operational capabilities and expand the industry scale [7]