BOE(SZ:000725)2023-07-20 10:17Group 1: Industry and Market Overview - In the first half of 2023, the global macroeconomic situation is complex, with terminal consumer demand slowly recovering, and the semiconductor display industry gradually emerging from a low point, showing an upward trend [1] - According to consulting agency data, panel prices began to rise, and demand for panels in the traditional five major application areas improved quarter-on-quarter in the second quarter [1] - The average utilization rate of the LCD industry was approximately 74% in Q1 2023, maintaining around 80% in Q2 2023 [3] Group 2: Company Performance - In the first half of 2023, the company benefited from improved industry supply-side dynamics, with LCD TV product prices continuing to rise and IT product prices stabilizing [2] - The company's flexible AMOLED shipments exceeded 50 million units in the first half of 2023, representing a nearly 80% year-on-year growth, with an annual shipment target of 120 million units [2] - The company achieved a net profit after deducting non-recurring gains and losses in Q2 2023, with revenue growth quarter-on-quarter [2] Group 3: Product Pricing and Inventory - TV product prices are expected to continue the upward trend seen since Q1 2023 due to low inventory and proactive stocking by brand manufacturers [2] - The overall inventory of LCD panels was below normal levels in the first half of 2023, with TV and IT brand manufacturers maintaining inventory near standard levels [2] Group 4: Future Outlook and Strategic Focus - The company aims to enhance the shipment volume and proportion of high-end flexible AMOLED products, focusing on new segments such as LTPO, foldable displays, and automotive applications [2] - The MLED business is positioned as a key platform for the next generation of displays, with a focus on high brightness, high color gamut, and high dynamic contrast [4] - The company has established a strong presence in the automotive display sector, maintaining the top global shipment volume in 2022, with a production capacity of approximately 15 million automotive display modules annually [5]