In the past few decades, due to the characteristics of high input and long production cycle of the panel industry, in order to maintain the industry leadership, the panel manufacturers mainly through "counter-cyclical" investment, in the low economic conditions of the industry through more favorable price acquisition and market merger, construction of production lines.
In this round of panel cycle, with the withdrawal of backward production capacity, mainland panel manufacturers continue to release production capacity, and their market share further increased. According to Omdia's data, Chinese manufacturers began to open high-generation LCD production lines in 2011, and it is expected that the production capacity of high-generation LCD lines of Chinese manufacturers will rapidly increase to 68% in 2022. According to the research report of GF Securities in November, the acquisition and integration of other production lines by leading manufacturers in the panel industry, as well as the withdrawal of backward production capacity of South Korean factories, will drive the concentration of the supply side of the industry to increase rapidly, which will help narrow the cyclical fluctuations of the industry and improve the profitability of leading manufacturers.
In this context,TCL Technology, BOE and other head panel manufacturers have continuously invested in high-generation production lines and capacity expansion in the past, and gradually shifted to focus on the upstream core links of the value chain, such as equipment and technology, and rely on upstream and downstream collaboration to drive long-term growth.
At present, head panel manufacturers such as TCL Technology and BOE mainly accelerate the layout of the upstream Mini/Micro LED chip field through vertical integration.
At the beginning of this year, Xiamen Xinying Display Technology Co., LTD., a joint venture established by TCL CSOT and SAN 'an Semiconductor, invested 300 million yuan to build a Micro-LED research and development platform, purchased Micro-LED mass transfer, Bonding, detection and repair equipment, and committed to the research and development of new semiconductor display technology and Micro-LED display Industrialization of the project. Recently, BOE plans to subscribe no more than 2.1 billion yuan for Huachan Optoelectronics shares, which will quickly obtain the core technology of LED epitaxy/chip, form an independent development platform for MLED business, and then build a new display industry cluster and continuously consolidate its position in the semiconductor display industry.
From the perspective of the whole display industry chain, the head panel manufacturers rely on their own capital, technology and market advantages, which is expected to accelerate the technology iteration of the display industry, help the terminal scene quickly landing, and drive the panel industry to achieve long-term, healthy and sustainable development.
Accelerate the layout of Mini/MicroLED technology,TCL Technology and other land-based factories are expected to lead the industry in overtaking curves
Under the expectation of panel cycle inflection point, the continuous iteration of core technologies of the display industry chain is an important lever for the industry to break through the long-term inflection point. When the manufacturers of the head panel integrate the industrial chain, the focus of the layout of Mini LED/Micro LED field reflects this point.
In terms of technology and market, in recent years, Mini LED/Micro LED technology with features such as high resolution, high brightness, power saving and long service life has gradually matured, driving the upgrading of TV/IT terminal products and increasing terminal penetration rate. According to TrendForce,Mini LED/Micro LED display application has an annual compound growth rate of 18%, and the scale is expected to reach 188.6 billion yuan in 2030, with an annual compound growth rate of 18%.
In terms of industry competition, in the semiconductor display field, mainland panel manufacturers are still faced with challenges from OLED technology advantages of Japan and South Korea. MiniLED backlight technology can greatly improve the LCD display effect, and it has cost advantages compared with OLED. The accelerated layout of MiniLED /Micro LED will help realize overtaking in corners in the future technical level.
Take TCL Technology for example. Its subsidiary TCL CSOT has always paid great attention to Mini-LED display technology and actively arranged product R&D and innovation. As early as in May 2018, we started Mini LED research and development, and exhibited the world's first Mini LED TV in September of the same year. In August 2019, the world launched MLED obsidian products based on Mini-LED on TFT, and the first glass substrate integrated LED solution. In recent years,TCL CSOT has accelerated the application of Mini Led technology in the field of esports display based on its leading market position in the world.
In addition,TCL CSOT focuses on the continuous research and development of Mini LED, Micro LED and other new display technologies, and the recently put into production of t9 production line as the world's first import 4 mask The Oxide production line is the world's only high-generation panel line compatible with LCD, MicroLED, and IJPOLED, providing self-evident advantages in future technology and productivity.
Gestant Display Technology Co.,Ltd. could provide a series of LCD and OLED products, such as AMOLED Screen, PMOLED Screen, Round Display Screen, Flexible Display Screen, TFT LCD, Mono-LCD and Bar Display Screen. Customize PCBA/LCD/OLED/FPC/Backlight/Coverlens/TP solutions.
Gestant Display has established good business relations with major panel manufacturers in China (BOE / EDO/IVO/CSOT/Tianma/Visionox), and the glass supply is stable and sufficient. Gestant Display's products are widely used in Smart wear，Smart home，Outdoor photography，IP phones, Medical care, Industrial control equipment, Automotive and Vehicle displays, Instrumentation, and other Information terminal applications, which could offer long-term after-sale services(such as 2 years quality warranty, long-term supply) .