Abandoned LCD OLEDs at home and abroad. The electric pandas insist on the tenth generation line.


The first in China, the world's second LCD panel, has been revealed with the announcement of Great Wall Computer. According to the announcement of Great Wall Computer, the total investment of CLP's 10th generation line will reach 35 billion yuan, which is higher than the investment scale of Sharp's 10th generation line of 430 billion yen (about 30 billion yuan).

Panel demand has been in a downturn for a long time, the industry is generally losing money, the operating rate has just rebounded to about 85%, and Sharp's operating rate in Japan's 10th generation line is only about 30%.

Under the background of reducing the investment in LCDs and switching to OLEDs in major panel manufacturers around the world, whether the 10th generation line of CLP Panda will suffer long-term losses and the situation that “one investment is lagging behind” is quite questioned by the industry.

The only new LCD investment plan
According to the announcement, Top Victory, a subsidiary of Great Wall Computer Holdings, and Panda LCD, a subsidiary of CLP Panda, set up a joint venture with a total investment of 35 billion yuan to build a 10th generation TFT-LCD production line in Nanjing, China. The registered capital of the joint venture company is 17.5 billion yuan, of which Top Victory holds a shareholding ratio of 0.8%, and Panda LCD has a shareholding ratio of 99.2%.

“The global panel factory, including Taiwan, has no new LCD investment plans.” Li Yaqin, research director of Qunzhi Consulting, told reporters that this is the only new line of 10 generations. "A big background is global overcapacity. LCD technology has been developing for more than 20 years. The penetration rate of various product lines is very high. There is not much room for new growth. Taiwan’s CPT and Hanyu Caijing have begun to withdraw. Nanjing is investing now, and its investment route is inconsistent with the industrial development track."

The actual controllers of Panda LCD and Great Wall Computer are all Chinese electronics. Panda LCD is a joint venture company established by China Electronic Information Industry Group Co., Ltd., Panda Group, Nanjing New Industrialization Investment (Group) Co., Ltd. and Nanjing Xingang Development Corporation, of which Panda Group holds 51%; registered capital is 4.8 billion yuan. . In 2011, the company's operating income was 81.76 million yuan, net profit loss was 9.9 million yuan, and net assets were 4.782 billion yuan.

Against the market investment, this is obviously a gamble. Japan and South Korea's panel makers are gradually reducing or even abandoning their investment in LCD liquid crystal display. What's more, in addition to the mass production of BOE and Huaxing Optoelectronics, there are also the Guangzhou 8.5-generation line to be built on the 22nd, and the Samsung Suzhou and Kunshan projects to be built.

In the announcement, there is no shadow of Sharp. In September 2009, Sharp entered into a cooperation agreement with CLP Panda and the Nanjing Municipal Government. Sharp helped CLP Panda build a 6th generation LCD panel production line in Nanjing. At that time, it was reported that Nanjing had proposed additional conditions in the negotiations with Sharp on the introduction of the Sixth Generation Line, and started the Eighth Generation Line after the Sixth Generation Line. However, the Nanjing Eighth Line did not pass the approval in the last round of approval. Regarding the way in which Sharp will participate, yesterday, the relevant person in charge of Sharp only said: "There is no disclosure of relevant information, and there is no comment on investment and technology transfer issues."

Sharp is not excusable for investing in stocks. Sharp, which has the largest loss in the company's history, has just handed in Hon Hai. The latter has invested in Sharp's 10th generation line for 809 million US dollars and has acquired half of the capacity of the Sharp 10th generation line.

Domestic and foreign investment abandoned LCD to OLED

Great Wall Computer announced that by investing in joint ventures, TPV will achieve a stable supply of 60-inch / 70-inch panels. Ovid Consulting statistics show that the large size of the main role of the 2012 May season promotion, indicating that the annual color TV size will continue to drift to large size. Among them, the size of the medium and large size of 42 inches or more is more than 10%, exceeding the small size.

According to statistics, in the fourth quarter of last year, the market share of large-size panels of 32 inches or more (excluding 32 inches) was 42.1%, which was higher than 38.3% in the third quarter. The trend of large-scale is becoming more and more obvious, and the tenth generation line is more suitable for large-size cutting, and the economical efficiency can be one of the advantages.

However, Li Yaqin said that from the perspective of economic cutting, the ten-generation line and the eight-generation line did not bring a particularly obvious upgrade. The 8th generation line has been able to cut economical for many sizes, mainly under 60 inches, including 32 inches, and 46 inches, 50 inches and 55 inches, but 100 inches can also be cut. The tenth generation line is more economical is 50 inches and 60 inches, 65 inches and so on. "However, even if Sharp's tenth generation line is not full, it is uncertain whether this advantage can be played."

It is understood that the generation of LCD panel production lines is mainly divided according to the size of the glass substrate. The generations of the products are different in size, the product technology is not significantly different, and the production technology is slightly different. Such as the 32-inch TV, can not tell whether it is produced by the sixth-generation line or the seven-generation line or other generation lines, the same quality performance. In general, the higher the panel algebra, the larger the size of the panel, the more the number of screens to be cut, the higher the utilization and efficiency, and the price can be made cheaper.

In the case of overcapacity, industrial investment is more optimistic about the technology upgrade route, that is, after the completion of the CRT to LCD change, it began to advance to OLED.

A few days ago, Sony, which is withdrawing from S-LCD, plans to establish a joint venture factory with AUO for OLED TVs and panels to catch up with Samsung and LGD, which are leading in the O LED field. In February of this year, AUO also entered into an OLED strategic alliance with Japan's Idemitsu Kosan Co., Ltd. In addition, Panasonic plans to invest 20 billion to 30 billion yen to establish the 5th to 6th generation OLED panel trial production line. South Korea's Samsung will have an AMOLED eight-generation line trial plan with a monthly capacity of 6,000 glass substrates in June this year, and LGD plans to build an AMOLED eight-generation line test line with a monthly capacity of 8,000 glass substrates.

The domestic panel makers BOE and Tianma Microelectronics all have related investment plans. BOE has set up a 5.5-generation line. Tianma Microelectronics is investing 5.5 generations of LTPS lines in Xiamen, but it may be converted into AMOLED production lines. There are also related plans for Rainbow, Visionox, and Hongvision.

According to Havis Kwon, president and CEO of LG Electronics Home Entertainment, "Consumer demand for OLED displays will start to rise in 2013. By then, the price gap between OLED TVs and LCD TVs will shrink to about 30%."

The long-term loss of domestic high-generation line investment, as well as the effective demand for LCD and the impact of OLED, seem to indicate the fate of a new ten-generation line. However, CEC chairman Xiao Xiaowu seems to be unmoved. He told the media: “The SASAC requires us to become the industry leader. The loss in the early stage is inevitable, but the profitability of the 10th generation line must be the best.”

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