in Shanghai, BOE continues to lead. In the first half of the year, BOE's operating income was 6.867 billion yuan, a year-on-year increase of 1.59%; The net profit of returning to the mother was 1.135 billion yuan, a year-on-year decrease of 31.95%; The net profit after deducting non-recurring gains and losses was-176 million yuan, a year-on-year decrease of 127%.

COVID-19 epidemic and trade friction have brought shocks, but the country's "new infrastructure" has also brought opportunities. In the first half of the year, with the release of new production capacity, BOE's panel shipments increased by over 15% year-on-year, maintaining the leading position of LCD screens in the fields of mobile phones, tablets, laptops, monitors and televisions. At the same time, the intelligent manufacturing business is growing rapidly, with the sales of TV sets and electronic labels in China increasing by over 7% year-on-year.

in the first half of the year, the revenue of BOE's port devices (mainly panels), smart IOT (mainly intelligent manufacturing) and smart medical sector increased by 1.75%, 3.6% and 6.16% respectively. However, the gross profit margin of port devices, which accounted for 9% of BOE's revenue, decreased by 1.78 percentage points year-on-year to 13.78%, mainly due to the decrease in panel prices compared with the same period last year. This has caused BOE's revenue growth and net profit decline.

TCL technology is connected with the acquisition. In the first half of the year, TCL Technology achieved revenue of 29.33 billion yuan, up 12.3% year-on-year, based on the same caliber after the divestiture of household appliances business (asset restructuring) last year. The net profit of returning to the mother was 1.21 billion yuan, a year-on-year decrease of 42.3%; The net profit of returning to the mother after deducting non-recurring gains and losses was 18 million, a year-on-year decrease of 27.39%. 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, TCL Huaxing, a panel maker, earned 19.51 billion yuan in the first half of the year, up 19.9% year-on-year; The net profit loss was 133 million yuan, down 1.152 billion yuan year-on-year, and the ring in the second quarter improved by 215 million yuan compared with the first quarter; The net profit of returning to the mother was 24 million yuan. At the same time, TCL's industrial finance, investment and venture capital and other businesses achieved a net profit of 1.2 billion yuan, which stabilized the company's profitability in the downturn of the panel industry.

during the downturn of the industry, TCL technology made a series of acquisitions and alliances. Invested 1.974 billion yuan to acquire Zhonghuan Group, so as to gain the controlling stake in Zhonghuan, which is mainly engaged in semiconductors and photovoltaic materials, and added semiconductor and new energy (Zhonghuan Group) to TCL Technology's business structure on the basis of semiconductor display (TCL Huaxing), industrial finance and investment. On the evening of August 28th, TCL Technology also announced that TCL Huaxing spent $1.8 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 invested 2 billion yuan in Japanese JOLED company strategically, and also established a joint laboratory of MicroLED with Sanan Optoelectronics.

Shen Tianma performed better in net profit growth. In the first half of the year, Shentianma achieved an operating income of 14.57 billion yuan, a year-on-year decrease of 3.69%; The net profit of returning to the mother was 744 million yuan, a year-on-year increase of 15.67%; The net profit of returning to the mother after deducting non-recurring gains and losses was 426 million yuan, a year-on-year increase of 54.4%.

compared with BOE and TCL technology, Shenzhen Tianma focuses on small and medium-sized LCD 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, after the price of large-size LCD panels, especially LCD TV panels, rebounded slightly at the beginning of the year, it fell again because of the epidemic affecting terminal demand, and it did not continue to rise until June.

in addition, unlike the sluggish growth of LCD TV market in the main battlefield of large-size panels, the demand for notebook computers, tablet computers and medical products has increased in the downstream areas of small and medium-sized panels, although the sales of smart phones and car displays have declined. In addition, Shentianma continued to carry out technological innovation and product upgrade on the LTPS-LCD (low temperature polysilicon-liquid crystal) mobile phone screen, such as launching a 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 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 a 6 th 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 6th generation flexible AMOLED panel production line in Xiamen. In addition, there are still opportunities for mergers and acquisitions in the industry. Therefore, it is expected that the revenue scale of the three giants of China display panel industry will continue to grow in the future, and they will strive to improve their profitability through the application of new technologies such as Mini LED backlight and off-screen fingerprint.