COVID-19's epidemic and trade frictions have brought shocks, but the country's "new infrastructure" has brought opportunities. In the first half of the year, with the release of new production capacity, BOE panel shipments increased by more than 65,438+05% year-on-year, maintaining the leading position in LCD screens in mobile phones, tablets, laptops, monitors, televisions and other fields. At the same time, the smart manufacturing business grew rapidly, and the sales of TV sets and electronic labels in China increased by more than 70% year-on-year.
In the first half of the year, the revenues of BOE port devices (mainly panels), smart IOT (mainly smart manufacturing) and smart medical sector increased by 10.75%, 3.6% and 6. 16% respectively. However, the gross profit margin of port devices, which accounted for 90% of BOE's revenue, decreased by 65,438+0.78 percentage points year-on-year to 65,438+03.78%, mainly due to the decrease in panel prices compared with the same period of last year. This has caused BOE's revenue growth and net profit decline.
TCL technology is related to this acquisition. In the first half of the year, TCL Technology achieved revenue of 29.33 billion yuan, a year-on-year increase of 12.3%. The net profit returned to the mother 12 1 100 million yuan, down 42.3% year-on-year; After deducting non-recurring gains and losses, the net profit returned to the mother was 65.438+0.8 billion, down 27.39% year-on-year. With the promotion of resumption of work and production after the epidemic, the net profit in the second quarter increased by 96% from the previous month.
Among them, the panel manufacturer TCL Huaxing made a profit of 195 1 billion yuan in the first half of the year, up by19.9% year-on-year; The net profit loss was 65.438+0.33 billion yuan, a year-on-year decrease of 65.438+0.10.52 billion yuan, and an improvement of 26.5438+0.5 billion yuan in the second quarter. The net profit of returning to the mother is 24 million yuan. At the same time, TCL's industrial finance, investment and venture capital businesses achieved a net profit of 654.38+0.2 billion yuan, which stabilized the company's profitability under the downturn of the panel industry.
During the downturn of the industry, TCL Technology successively acquired and formed alliances. It spent 65.438+0.0974 billion yuan to acquire the holding shares of Zhonghuan, which is mainly composed of semiconductors and photovoltaic materials. On the basis of semiconductor display (TCL Huaxing), industrial finance and investment, semiconductors and new energy (Zhonghuan Group) were added to the business structure of TCL Technology. On the evening of August 28th, TCL Technology also announced that TCL Huaxing spent $65.438+0.08 billion to acquire Suzhou Samsung 8.5 generation line to further expand the production capacity of large-size panels. In addition, in the first half of the year, TCL strategically invested 2 billion yuan in Japanese JOLED company, and also established a MicroLED joint laboratory with Sanan Optoelectronics.
Shenzhen Tianma's net profit growth performed well. Shentianma achieved operating income of 65.438+04.057 billion yuan in the first half of the year, down 3.69% year-on-year; The net profit of returning to the mother was 744 million yuan, a year-on-year increase of15.67%; After deducting non-recurring gains and losses, the net profit returned to the mother was 426 million yuan, a year-on-year increase of 54.4%.
Unlike BOE and TCL Technology, which have a large number of large-size LCD panels, Shenzhen Tianma mainly has small and medium-sized panels, which is also the reason why Shenzhen Tianma's net profit increased relatively well in the first half of the year. Because in the first half of this year, the price of large-size LCD panels, especially LCD TV panels, rebounded slightly at the beginning of the year, and fell again because the epidemic affected the terminal demand, and it did not continue to rise until June.
In addition, unlike the sluggish growth of LCD TV market with large-size panels as the "main battlefield", the demand for notebook computers, tablets and medical products in the downstream areas of small and medium-sized panels has increased in the case of declining sales of smart phones and car monitors. In addition, Shentianma continued to carry out technical innovation and product upgrade on the screen of LTPS-LCD (low temperature polysilicon-liquid crystal) mobile phone, such as launching multi-point fingerprint solution in the screen, so the gross profit margin of Shentianma display screen and display module increased by 3.83 percentage points year-on-year to 19.35% in the first half of the year.
At present, BOE, TCL Technology and Shenzhen Tianma are still expanding their panel production capacity. For example, BOE is building the 6th generation flexible AMOLED panel production line in Chongqing; TCL Huaxing Wuhan 6th generation flexible AMOED panel production line is in the process of mass production climbing; Shenzhen Tianma is building the sixth generation flexible AMOLED panel production line in Xiamen. In addition, there are still M&A opportunities in the industry. Therefore, it is expected that the revenue scale of the three giants in China display panel industry will continue to grow in the future, and efforts will be made to improve profitability through the application of new technologies such as Mini LED backlight and off-screen fingerprint.