TIANMA(SZ:000050)2022-12-08 03:06Group 1: Market Trends and Projections - The Chinese smartphone industry is currently weak, but there is a growing demand for high-resolution screens, with a projected compound annual growth rate (CAGR) of 24.1% for LTPS panel demand area by 2020 [2] - The average screen size of smartphones continues to increase, with mainstream specifications in 2015 concentrated around 5 to 5.5 inches, and FHD becoming the standard for high-end smartphones [6] - The global small to medium-sized display market is expected to grow at a CAGR of 5%, with a demand CAGR of 12% for production capacity [6] Group 2: Company Developments and Strategies - The company has established the first domestic LTPS production line (G5.5) in 2010, which reached design capacity by the end of 2014, covering mainstream domestic and international customers [5] - Two G6 LTPS production lines are being constructed, each with an investment of 12 billion RMB, with a planned capacity of 30,000 sheets of 6th generation LTPS TFT glass substrates per month [5] - The company is focusing on increasing its market share in the professional display sector, which has high entry barriers and customer loyalty [3] Group 3: Product Applications and Innovations - The company's products have been applied in the automotive sector for nearly 20 years, with a stable growth trend in the number of vehicles and screen installation rates [3] - The company’s subsidiary NLT holds over 30% market share in the global mid to high-end medical display market, benefiting from stable demand due to aging populations [4] - The company has developed in-cell technology, which is expected to become a trend in display products, offering advantages such as reduced thickness and lower material costs [6] Group 4: Financial and Operational Insights - The non-public offering price is set at no less than 17.92 RMB per share, based on the average trading price over the previous 20 trading days [7] - The company is considering various incentive plans, including equity incentives, to boost future development [7] - The company plans to upgrade existing a-Si equipment to meet the production needs of professional display screens [4]