Lejin Display (LGD), the world's second largest panel maker, recently announced its earnings report. The second quarter revenue was up 10% from the first quarter, but the profit was unexpectedly down 14%. In response to weak market demand, it is expected to reduce production capacity in August. Utilization rate. Whether Taiwan’s panel makers will follow up will become the focus of the upcoming law conference.
AUO today (26), the stock price gapped higher, continued to consolidate slightly, the highest to 30.95 yuan. Optimistic about LED doubling LCD monitor panel shipments accounted for 30%, is expected to promote profit growth, foreign investment estimates, AUO's second quarter profit to see 10 billion yuan, and this season is also happy to watch.
In the first half of the year, the panel market was hot, but due to the poor market conditions in Europe and the United States, coupled with the high inventory in the third quarter, the third season was not booming, and LGD issued a message that the industry's upstream to downstream inventory increased, for the upcoming panel. The factory law said that it would cast a shocking bomb and add a lot of variables.
AUO (2409-TW) will take the lead in holding a law conference next Wednesday (28th). AUO earned 7.2 billion yuan in the first quarter. It is estimated that the second quarter will be able to see 10 billion yuan, but due to LGD earnings performance Under the unfavorable situation, coupled with the simultaneous release of doubts about the panel industry's economic climate in the second half of the year, AUO's financial report figures may be slightly under pressure.
The market estimates that the Korean Samsung and LGD panels together account for about 50% of the global market share. If the two major manufacturers can take the lead in reducing production, it will be expected to significantly stabilize the August and September panel prices.
According to foreign reports, affected by the European debt crisis, some LCD TV brand customers in other markets such as China, TV sales are not as expected, and future panel prices may continue to face price cuts.
The sales figures of LGD in the second quarter were lower than expected, mainly due to the high inventory of LCD TV manufacturers, resulting in a decrease in the number of panel orders.
HSBC Securities said that there are currently three major doubts about the panel factory, including the decline in market share, China's domestic brands may adjust inventory after the 11th Golden Week, due to market expectations for LED TV sales are too optimistic, it is expected that second- and third-line LED TVs will Adjusting inventory is expected to result in delays in terminal demand and panel demand, as well as when the upstream components have been cut by 3-5% since the beginning of July, and the company's third season is not booming.
HSBC believes that the panel inventory adjustment is expected to take 3-6 months, the panel industry uncertainty will increase, and the panel makers will be lowered, and the target price will be reduced from 42 yuan to 60 yuan. To 25 yuan, 30 yuan. For the second half of the panel factory's boom, and then covered with a layer of haze.
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