The faceplate manufacturer of the liquid crystal passes the winter: It is limited to drop the result in production The price approaches the cost
Three quarterly reports that such faceplate manufacturers of liquid crystal as the friend reaches, very beautiful reveal recently reveal, dropping by global economic crisis and faceplate price of liquid crystal influences, company's achievement turns and develops rapidly, transfer from profit of the second quarter to the large loss of the third quater.
The insider points out, the drop trend of the faceplate price of the liquid crystal is difficult to change in a short time, the present price has already approached producer's cost, the faceplate manufacturer will be sadder from now on, the prosperous cycle rising of the trade may be wanted until next the second half.
Industrial securities red to think as to Chinese complete machine color TV manufacturer when the researcher, it is a advantage that the faceplate price of the liquid crystal drops medium and long-termly, but partial and neutral in short term, if the producer is indifferent in supply chain management, will face the difficult situation under the situation that the terminal demand is weak.
Factory's achievement of the faceplate assumes a hostile attitude
The trade personage uses " Worsen the intensity and go beyond expectancy " To describe the achievement of the third quater of faceplate manufacturer. Taiwan liquid crystal trade " One pair of tigers " The friend reaches and still realizes and makes profits in the very beautiful second quarter, but the loss of bursting on of the third quater.
It reach photoelectricity friend drop net profit to until third quarter new Taiwan dollar of 860 million yuan,with than dropping fiercely by 96%, the chain rate drops by 95.8%, it is the minimum level since 6 quarters. The friend reaches the photoelectricity and amalgamates the business receipt as the new Taiwan dollar of 104 billion yuan in the third quarter, chain rate drops by 15.7%.
Very beautiful unexpected in the third quater loss appears, the sales amount is a new Taiwan dollar of 81,900 million yuan, drop by 7% compared with the same period of last year, 3,470 million new Taiwan dollars for business losses Damien. 3,970 million yuan of new Taiwan dollar of net deficiency of very beautiful past three quarters, the net profit was the new Taiwan dollar of 13,720 million yuan at the same period last year.
A gleam of manufacturer is like this, the day of Line two manufacturer is difficult to more pass. Xiahua electronic ( 600870) Factural controller China reflect first half of the year last 6,189 million yuan new Taiwan dollar,but reverse achievement by a wide margin at the third quater, lose the new Taiwan dollar of 6,076 million yuan by a wide margin this season, nearly offset and lose for first half of the year and make profits. The gross margin percentage of TFT Division glides from 18.9% of the second quarter to the third quater - 9.3%. The analyst expects, drop by 10% and calculate with the faceplate price of jumbo size of the fourth quater of this year, China reflect probably suffer the loss 2008 the whole year.
The net profit is a new Taiwan dollar of 4,711 million yuan, the new Taiwan dollar of 3,210 million yuan of net deficiency of after tax in the third quarter in color brilliant first half, it is a new Taiwan dollar of 1,501 million yuan to add up to the after tax net profit in the past three quarters. Color the intersection of faceplate and total production reduce 3.3% than second quarter brilliant the third quater, up to 4,750,000, the intersection of jumbo size and the intersection of faceplate and 3,170,000 of production among them, 820,000 own brand monitor productions, average price of whole faceplate drops by about 26%.
The substantial fall of the price of the faceplate is the immediate cause causing every producer to lose. Very beautiful relevant persons in charge show, the major cause why the company loses in the third quater is the substantial decrease of the price of the faceplate, company's average sale univalent is dropped to 143 dollars by 183 dollars in the same period of last year, amount of decrease exceeded 20%. The total production of the faceplate is reduced by 3.3% compared with the second quarter in the brilliant third quarter of color, the average price of the whole faceplate drops by about 26%.
Links the general manager of advisory company and explains the bright star to point out: "Since five Junes, the faceplate price of the liquid crystal has begun to drop continuously, the amount of decrease generally exceeds 20% so far. Take TV liquid crystal faceplate with 32 -inch screen as examples, the price drops to 240 dollars in midyear about 300 dollars at the beginning of the year, the lowest quotation is only 210 dollars at present, amount of decrease is nearly 30%. "
Upstream manufacturer day is sad
An insider points out, the situation of this liquid crystal trade is very special, nearly the whole of trade visits and falls into and loses the condition. And according to the general law in the past, it was the terminal station that consumed weakly first, and then conducted to commission agent and intermediate quotient, and then conduct it to color TV complete machine manufacturer, faceplate manufacturer and material manufacturer of the upper reaches the most, conduct lagging for some time while being primary while being every during this time, " whether the intersection of faceplate and manufacturer and material manufacturer of the upper reaches nearly face the predicament in the third quater at the same time this time. "
Kang Ning is a glass substrate supplier of the global maximum, the products are mainly offered the faceplate manufacturer. Net profit 768 million the third quater such as company, chain rate drop suddenly 76%.
When point out,it is more suffer the loss at the same time not to visit by manufacturer at the third quater from head to foot, mainly it is influence of financial crises global that go beyond to imagine greatly, the whole trade fund chain is very in short, in addition, there are more stocks in color TV enterprises of the complete machine at the beginning of the year, when the crisis appears, people expect to pessimism of the future to lead to the fact the downstream demand disappears instant, the influence of the unfavourable factor is advanced greatly.
The fast drop of the faceplate price of the upstream liquid crystal, form the essence advantage to the domestic color TV trade. The purchase personnel of a color TV manufacturer show: "The price of the faceplate drops fast at present, reduce our purchase cost directly, it is sold fierily and leading to the fact our manufacturer did not get the situation of the faceplate will not take place either that terminal in the past, to on there last promotion is words of tour right. "
When think is it upstream whether there aren't faceplate the declines of price, this will promote the video further popularization of the liquid crystal, thus produced new market demand, in terms of medium and long-term trend, it is a advantage to the Chinese color TV manufacturer. But he points out, in a short time, the impact on Chinese color TV manufacturer is neutral. On one hand, because the amount of decrease of the price of the faceplate has been relatively big from the beginning of this year, the Chinese color TV manufacturer if the previous stock is too great, the efficiency of management of the supply chain is too low, there are the significant losses of making a reduction at present. From the beginning of this year, with the influence in factors such as the Olympic Games,etc., in addition, the LCD TV is still at the stage of popularization in China, the Chinese color TV consumes and presents the posture of growing at top speed all the time, but the color TV terminal station of the American-European area is being consumed and already glided sharply at present, the Chinese market feels embarrassed to mention the optimism too.
It is limited to drop the result in production
Price in order to contain is rapid to glide, many faceplate manufacturers and upstream manufacturers have already dropped in production voluntarily.
Chairman Kang Ning and concurrently CEO Wei gentle Germany expect, the company sells the total amount and glides 2%-13% compared with the same period of last year in the fourth quater, the company may join and drop the ranks in production, " during the third wealth season, the scientific and technological business of our display was adjusted the impact that bring by the supply chain. We believe the economic environment worsening constantly is influencing the retail demand of several items of business of ours, in the fourth wealth season, the economic recession may also be aggravated. If economy further worsens, we will consider that carry on greater adjustment to productivity and operation. "
Though the major manufacturers all join and drop the ranks in production and reduce the capital expenditure, the trade personage is still pessimistic to the price tendency in the fourth quater.
Explain the bright star to think, the faceplate manufacturer drops in production certain support function, but under the weakened environment of the demand, it is unable to produce the result of getting instant result in short term.
In investment, though several large manufacturers have made the plan of reducing the expenditure, but the construction and leading time of the fabrication facilities because of the faceplate factory are longer, as to material production, market of apparatus is cyclic to comparatively lag behind.
DisplaySearch makes the Vice President Charles Annis of area research to point out, though the faceplate has already obviously presented the situation for overly asking at present, but because the time point to delivering or installation of apparatus ordered before this, factory should basically deliver the faceplate according to the set time table too. The data display that DisplaySearch offers, the global liquid crystal faceplate trade apparatus capital expenditure will hit the new highest record in history in 2008, exceeds 13 billion dollars, the capital expenditure of the apparatus will drop to level of 10,060 million dollars next year, decreasing amplitude is 21%.
Brilliant general manager Zhou DingHui estimates the color, the faceplate price of jumbo size will relatively glide about 10% in the third quarter in the fourth quarter.
DisplaySearch thinks, the present faceplate price has already approached producer's cash cost (total cost - depreciation =Cash cost) ,The amount of decrease may be limited in the future. The analyst of DisplaySearch shows, takes 19 inches of faceplates as examples, the price of the fourth quater is predicted for every film of 74 dollars, this price has already been lower than in 79 dollars of 94 dollars for 7 generations of total cost of line production and cash cost, this is facing loss on behalf of faceplate manufacturer.
(Responsible editor: Yu ZhanTao)