Panel procurement has fallen to a historical low, manufacturers want to use "clear inventory+diversification" break

The panel industry is hard to say. According to Cinno Research monthly panel factory production survey data, in August this year, the average dynamic rate of domestic LCD panel factories was 68.9%, a decrease of 4.4 percentage points from July, reaching a historical low. This also broke the expectations of the previous part of the industry in the third quarter of the industry.

In addition, in order to control and reduce the inventory level, panel manufacturers have expanded production reduction, and the decline in display panel shipments has further expanded. According to the statistics of Ovarwo, 10.7 million units were shipped in August this year, a year -on -year decrease of 25.9%and a decrease of 7.8%month -on -month, which once again refreshed the minimum record of shipments this year.

In this context, all parties of the panel industry chain are frequent, looking for the road of breaking the situation.

Terminal demand shrinks

Panel price continues to fall

From the perspective of analysts in the industry, the limited demand for overall panels is the key to improving the mobility of the crop.

Judging from the specific data of Cinno Research, last month, the average dynamic rate of the panel low (G4.5-G6) was 68.3%, a decrease of 2.8 percentage points from the previous month; The rate was 69%, a decrease of 4.6 percentage points from the previous month, of which the average dynamic rate of G10.5/11 high generation lines fell to 71.3%, a decrease of 3.5 percentage points from the previous month.

Since the beginning of this year, the consumer electronics market has been sluggish, and industry manufacturers such as television have become more cautious and have lowered their expectations. AVC Revo data shows that in the second quarter of this year, the top 11 brand factory panel procurement decreased, and in the third quarter, it fell to a historical low. In the second half of the year, the panel procurement plan continued to weaken year -on -year. This also speeds up the price of panel.

In addition to the stability of the market, the current board factory actively adjusts the rivers of the crowd to stabilize the price. Ovarwo analysts said that in August this year, the mainstream panel factories have lowered to 70%, and will be further reduced in September and October. Among them, in September this year, the overall mobility rate of BOE may drop below 65%; TCL Huaxing's overall population rate is reduced to 69%, of which the two G10.5 rivers have been less than 60%. In addition, Huike currently moves 70%, the dynamic rate of groups is reduced to 74%, and Sharp continues to run at a rate of less than 50%.

Yi Xianzhen, deputy general manager of Dixian Information Consultation, told the reporter of the Securities Daily, "Global inflation and other factors have continued to shrink the terminal demand. The shipment of the TV TV machine throughout the year is expected to only be 212 million units, a year -on -year decline 5%, the weakness of the demand side has caused the shipments of the TV panel to the lowest value in recent years. Under the circumstances where the supply is too required, the price of panels continues to fall. At present, the price of some size panels is approaching or even below the material cost. Business loss is already very serious. "

According to Dixian statistics, the global TV panel factory's losses in the third quarter are expected to exceed 40%. "Under such circumstances, the panel factory is unwilling to operate at a loss again, so it continues to reduce the rate of crop, and the rate of rivers has reached a new low in recent years. Keep the low rotate operation. "Yi Xianzheng said.

Accelerate the inventory

Enterprise adheres to the diversified layout

Through the significant adjustment of manufacturers' row rates, the number of global panel production is rapidly declining, and the inventory of panel factories has begun to decline. Chen Hui, general manager of Ovarwo, told a reporter from the Securities Daily that in August this year, the production volume of panels was lower than the number of panel manufacturers in the month. With the further downward motion of the panel factory in September and October The inventory will continue to be de -degraded.

The panel market has suddenly encountered cold since the second quarter of this year, causing manufacturers to operating pressure suddenly. In the first half of this year, a number of listed companies' performance declined. Among them, Shen Tianma A achieved a net profit of 370 million yuan in the first half of the year, a decrease of 30.19%year -on -year; Victoria lost 1.149 billion yuan.

Peng Shuanglang, chairman of the Taiwan -funded panel giant Aiya Optoelectronics, said that in the third quarter, it is the traditional peak season for brand sales and stocking. However, this year, due to the factors such as the previous Saigang and the increase in inventory, the decline in terminal demand, the brand customers repaired orders, reduced the pull -ups, reducing pulling pulls, reducing pulling pull -ups, reducing pulling pull -ups, reducing pulling pull -ups, reducing pulling pull -ups, reducing pulling pull -ups, reducing pulling pull -ups, reducing pulling pulls. It may take a period of digestion channel inventory to adjust the inventory priority.

"The panel manufacturer will accelerate the clearing inventory in the second half of the year. As panel manufacturers control the output and stable price, the market's game will also increase the price of the market." Yi Xianzhen believes.

Since September this year, many panel giants have stated that they will have a diversified layout.

In an interview with the Securities Daily reporter recently, the senior management of BOE said that the current enterprises have worked hard to seek breakthroughs. BOE has achieved research and development breakthroughs and mass production and commercial use on MINI/MicroLED technology, and provides products and solutions through the Baicheng Qianping Project for products and solutions to conduct. Diversified exploration. BOE will further realize the full coverage of the products in the fields of COG/COB/SMD full PITCH products and backlight.

Huike also said that the panel market is about to bottom out, and the industry's shipments are expected to rise.

The upstream and downstream listed companies of the panel industry chain also felt the "chill".On September 20, the main business showed that 800 million time and space with LCD materials stated at the performance briefing that the overseas market in the TV industry has entered the peak sales season since the third quarter of this year, but from the perspective of overseas TV sales, in the third quarter, in the third quarter, in the third quarterThe global panel industry will continue to be in a low prosperity state, the overall inventory of the industry is higher, and the riversal rate of panel companies is low.800 million time and space stated that it will be aimed at the shortage and blankness of the domestic electronic materials field. While doing a good job of the main business of the existing LCD materials, it will further expand and promote the development of other materials business for a diversified layout.

Chen Hui believes that in the context of maintaining a low rotation strategy of panel factories, panel inventory will gradually drop to a reasonable level. As the demand for panel gradually recover, the supply and demand of panels are expected to recover balance.Exploration "Strategy.

Reporter Jia Li

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