BOE(SZ:000725)2023-07-06 12:11Group 1: Industry Overview - The LCD industry has experienced significant fluctuations from Q2 2022 to Q1 2023, influenced by both internal development patterns and external uncertainties [1] - The demand surge in 2021 led to a preemptive consumption drawdown, resulting in rapid demand volatility [1] - The industry is currently in a recovery phase, with large-size LCD product prices continuously rising since Q1 2023 [1] Group 2: Supply and Demand Dynamics - The industry supply side is improving as excess production capacity gradually exits, leading to increased market concentration among leading companies [2] - The average operating rate in the LCD industry was approximately 74% in Q1 2023, with expectations of around 80% in Q2 2023 [2] - Market supply and demand dynamics are stabilizing, with LCD TV panel prices starting to rise since Q1 2023 due to improved purchasing motivation from major domestic brands [2] Group 3: Product Performance and Projections - The company achieved a flexible AMOLED shipment of nearly 80 million units in 2022, a year-on-year increase of over 30% [3] - For 2023, the company aims to exceed 120 million units in flexible AMOLED shipments, with Q1 2023 shipments nearing 30 million units [3] - The company’s revenue breakdown for 2022 shows display devices at 88.53%, IoT innovation at 15.27%, and other segments contributing smaller percentages [4] Group 4: Growth in Innovative Segments - In 2022, despite a weak display industry, the company’s four innovative segments showed strong growth, with system solutions revenue up over 41% and MLED business revenue up approximately 85% [4] - The sensor business also saw a year-on-year revenue increase of over 41%, while the smart medical business grew by over 19% [4]