LCD panel makers collective life difficult for the winter – liquid crystal displ
AUO, Chi Mei LCD panel makers such as the recent disclosure of the three quarterly indicated by the global economic crisis and the impact of LCD panel prices, company performance has suddenly turned from the second quarter to third quarter earnings huge loss.
Insiders pointed out that LCD panel prices drop in the short term difficult to change, current prices have been approaching manufacturers shipping cost, panel makers will be more sad days ahead, the industry business cycle may have to wait until the second half up. When Societe Generale Securities researcher
red that domestic Machine TV manufacturers, LCD panel prices fell and long-term is positive, but short-term neutral pH, if the manufacturers supply chain management is not strong, weak demand in the terminal under the situation will continue to face difficult situation. Changing Faces
panel plant performance Industry to use the "deterioration than expected" to describe the results for the third quarter, panel makers. Taiwan's LCD industry, "Double Standard" AU Optronics and Chi Mei in the second quarter is still profitable, but suddenly the third quarter loss.
Third quarter net income fell to NT AU 860 million yuan, up 96% of severe decrease, the chain dropped 95.8%, for the six quarters since the lowest level. AUO's third quarter consolidated revenues of NT 104 billion yuan, down 15.7% chain.
Chi Mei unexpected loss in the third quarter, with sales of 819 million Taiwan dollars, down 7%, operating loss amounted to 3.47 billion Taiwan dollars. Chi Mei first three quarters of a net loss of NT 3.97 billion yuan, a year earlier to NT 13.72 billion yuan net profit.
Tier vendors like this, second-tier firms worse off. Xiamen Overseas Chinese Electronic (600,870) reflect the actual controller of the first half profit of 6.189 billion yuan of China NT, but the sharp downturn in the third quarter results, substantial losses of 6.076 billion yuan quarter, NT, almost offset the first half of the profits. TFT Division gross margin of 18.9% from the second quarter fell to three quarters of -9.3%. Analysts expect fourth quarter of this year, large-size panel prices fell 10%, the Chinese fear that the loss reflected the year 2008.
Caijing first half net profit to 4.711 billion yuan of NT, the third-quarter net loss of 3.21 billion yuan after tax of NT, the first three quarters, net income was 1.501 billion yuan total of NT. Caijing three quarters of the total panel shipments decrease 3.3% over the second quarter, reaching 4.75 million, of which large-size panel shipments of 3.17 million, own-brand monitor shipments of 820,000 units, the overall average selling prices fell by about 26%.
Panel prices fell sharply leading to a loss of the direct cause of the manufacturers. CMO official said, the company third quarter loss is mainly due to the sharp decline in panel prices, the company average price of 183 U.S. dollars from the same period last year dropped to 143 U.S. dollars, or more than 20%. Caijing total shipments in the third quarter panels in the second quarter decreased 3.3%, the overall average selling prices fell by about 26%.
Ovid Consulting General Manager Yu Leung-sing said: "five or six months from the start, LCD panel prices started to decline in a row, so far, the general decline in more than 20%. To 32-inch TV LCD panels, for example, around the beginning of the price at 300 dollars , years, down to 240 U.S. dollars, the current minimum bid of only 210 U.S. dollars, a drop of nearly 30%. "
Life difficult for the upstream firms
An industry point out that the situation in the LCD industry is very special, almost all the upstream and downstream sectors together into a loss situation. Accordance with the law than before, first terminal consumption weak, and then transfer to Proxy Providers and intermediaries, and then transfer to the TV machine manufacturers, panel manufacturers and the most upstream material manufacturers have during every transmission time lag, "this time is the panel of manufacturers and vendors upstream material is almost the same time difficulties faced by the third quarter. "
Corning is the world's largest glass substrate supplier of products available to the panel makers. The company's third quarter net profit of 768 million U.S. dollars, 76% of the chain sharply.
Time says that the upstream and downstream firms in the third quarter, while losses are mainly the global financial crisis far beyond the imagination, the whole industry chain of funds are very tight, with the beginning of color TV business machine more stock in the crisis, people pessimistic about the future demand is expected to lead to lower moments away, well in advance the impact of unfavorable factors.
Fast upstream LCD panel prices to fall, domestic color TV industry in a substantial positive. Procurement staff, a color TV manufacturers, said: "The current panel prices fell rapidly and directly reduce our procurement costs, sales of previously hot end result of our vendors can not get the panel situation does not occur on the upper reaches of the right to speak to a certain extent enhancement. "
Red that when the upstream panel prices will accelerate the decline in the price of machine, which will promote LCD TV Further spread, resulting in new market demands, the long-term trends, the domestic TV makers are good. But he also pointed out that in the short term impact on the domestic color TV manufacturers neutral. On the one hand, as panel prices this year showed a larger initial stock of domestic color TV manufacturers, if too large, inefficient supply chain management, currently has a considerable decline in value on the loss. This year, the impact of factors such as the Olympic Games, plus LCD TV in China is still in the popular stage, domestic color TV consumption has been showing rapid growth, but Europe and the U.S. consumer has been a sharp decline in TV terminals, the domestic market can hardly be optimistic.
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