Industry wind direction 丨 Terminal manufacturers have released new products one after another, and the localization rate of OLED supply chain has accelerated

Recently, terminal electronic brand manufacturers have successively released high -end products equipped with OLED screens. It is expected to rapidly increase the sales of OLED related products in the quarterly dimension and increase the attention of the sector.

Although the iPhone14 series products are currently criticized, it is still expected to increase the sales volume of OLED related products in the quarterly dimension in the quarterly dimension.

It is understood that with the smartphone industry as a high -end strategy in 2021, the world's global AMOLED smartphone panel shipments were about 668 million pieces, exceeding 600 million pieces for the first time, an increase of 36.3%year -on -year. According to Cinnoresearch data, in the first half of 2022, the global AMOLED smartphone panel shipments were about 278 million pieces, a year -on -year decrease of 10.5%. Despite the influence of macroeconomics and epidemic conditions, the shipment of OLED panel has fluctuated, but it has remained continuously improved for a long time.

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Gu Yuan Securities analysis pointed out that with the improvement of the production capacity of OLED panel manufacturers and the gradual localization of supporting materials, the upstream enterprises upstream of the industrial chain will have great market space. OLED panel raw materials cancel the optical structure, LCD layer, and backlit module, etc., adding organic luminous materials. Therefore, the cost structure of the OLED panel is also very different. Comprehensive comparative cost structures, equipment, organic materials and drivers in the upstream industrial chain of OLED panels upstream industrial chain The IC field has greater elasticity.

1. Equipment side: Elasticity is mainly reflected in the increase of steam -plating equipment, as well as the increase of steamed plating and transfer equipment brought about by the upgrade of larger size OLED panels. Due to the industry's prosperity and downstream panel plant investment cycle, the market is greater. Has volatility;

2. Material side: OLED organic materials are part of the core component of OLED panel manufacturing. It is also one of the most technical barriers in the OLED industry chain. The cost in OLED panels is relatively high. Investment and production capacity climb, the scale of the OLED panel market has grown rapidly, and the market of upstream OLED organic materials will continue to expand rapidly in the market in the field of mobile phones and television. Although there is a general cost reduction trend in various links of the OLED panel, the material side has the minimum pressure on the material side. Therefore, the pressure of upstream manufacturers on the material side is expected to be smaller, which is expected to become one of the most benefited parts of the OLED industry expansion;

3. Drive IC: Similar to the panel pattern, OLED driver IC is currently mainly based on Korean manufacturers. Domestic IC design manufacturers have a very broad space for replacement.

Here, by integrating the latest research report information of more than 10 brokerage firms such as Tianfeng, Anxin, Guoxin, it brings 4 companies to fans and friends for reference only.

1. Jiangfeng Electronics

The company builds a target material and component production base in Huizhou and Wuhan, Huizhou and Hubei in Guangdong, and expands the production capacity of high -pure metal sputtering targets and related machine components. Construction of a large -scale integrated circuit in Yuyao and Haining in Zhejiang in Zhejiang, a large -scale integrated circuit production line for high -pure metals to further expand the company's large -scale production capacity of targets and loops in high -pure aluminum targets, titanium targets, copper and copper alloy targets. The company's participation in Ningbo Chuangrun and layout of upstream raw materials have achieved some domestic replacement. The expansion of production capacity and the strengthening of the industrial chain layout provide guarantee for the continuous growth of the company's revenue and profits. (Northeast Securities)

2. Qi Zhi Technology

The company's layout of the upstream PET base film, LCP film -level resin and film (5G application), OLED luminous material, silicon -based OLED miniature display technology, fully integrate resources, technology, and market advantages, and achieve coordinated development with the company's existing business. In terms of independent research and development, the company is committed to the accumulation of independent coating technology and the accumulation of formulas and the improvement of research and development. It actively promotes the research and development and testing of functional thin film products in emerging fields. Reserve new products include blocking film, protective film, semiconductor, medical and other film films Waiting materials. While maintaining the leading position of the optical film industry, the company actively builds a functional thin film platform. (CITIC Securities)

3. Overflow electricity

The company is engaged in the research and development, design, manufacturing and sales of mask version, and is one of the earliest and largest mask versions of mainland China. Through more than 20 years of hard work, the company's products have completed a leap from low -precision, small size to high progress, and large size. In 2020, the company ranked fourth in the global tablet market with sales of 387 million yuan and 7.12%. In the field of tablet display, the company's G8.5 high -precision TFT mask version and G6 accuracy AMOLED/LTPS mask version have been mass -produced; Supply of many customers of the version (HTM) products. (Anxin Securities)

4. Kangguan Technology

The company's main business is the development, production and sales of intelligent display products. The main products include smart interaction display products in the commercial field, smart TVs in the home field.The company has always maintained a steady increase in volume and industry status. The customized software and hardware customized R & D design, small batches of multiple models flexible manufacturing, differentiated market strategies and high -quality customer resources together form the company's organic and unified competitive advantage.In the future, the popularization rate of consumption upgrade smart TVs will increase, the leaders of the industry will gradually highlight the advantages, and differentiated competition strategies bring a larger market space.The large -scale design and production enterprise represented by Kang Guan Technology is based on the customization of full components, with small batch and customized flexible services as a breakthrough. By establishing a product cost control system, it gradually becomes a strategic partner of the world's well -known brand display brand.Essence(Tianfeng Securities) Daily Economic News

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