The OLED concept sector reproduces the wave of ups and downs. Dongshan Precision, Dafu Technology, Helitai, Wanshun and many other companies responded to the progress of OLED industry participation through interactive platforms. It is worth noting that many companies have indicated that OLED related component technology is in the preparatory stage and has not yet mass production and shipment. Investors should pay attention to avoiding risks.
Wide range of applications
OLED display technology is considered to be an important direction for the development of future display technologies. It has wide color gamut, high contrast, low power consumption, bendability, self-illumination, etc. It can be widely used in mobile phones, TVs, tablets, VR/AR, and car. , wearable and other equipment. At present, OLED has been applied to mobile phones such as Samsung, Apple, and Huawei. With the release of some mobile phone brand collapsible phones, the application penetration rate will be further improved. According to IHS data, the market size of flexible OLED panels will increase from about 58 billion yuan in 2017 to about 99 billion yuan in 2020, and the average annual growth rate of OLED market will exceed 20%.
Recently, a number of OLED related companies have been well received by the market. It is worth noting that many of the company's related products in the OLED sector are still in a "conceptual" state and have not yet been mass-produced. Dongcai Technology has a daily limit of three consecutive trading days. The company announced on the evening of February 14 that the optical grade polyester base film project with an annual output of 20,000 tons of OLED display technology through the wholly-owned subsidiary Jiangsu Dongcai is still in the preparatory stage. The project is officially put into operation and is expected to be 28 Months. The construction progress of the project may not meet expectations, and there is uncertainty in the future.
OLED industry technology application field is wide, but the localization rate is low, and related technologies are still in the preparatory stage.
Wanshun shares said on the interactive platform on February 14 that the high-resistance diaphragm produced by the company is mainly used in quantum dot TV and flexible solar energy. It has relevant technical reserves in flexible OLED products and has not been mass-produced.
Dafu Technology said that the company has the ability to provide conductive fabrics for flexible electronic products, and has not yet involved materials used in flexible screens. The company's precision metal mask FMM is used in the evaporation of OLED panels and is currently working with downstream customers to conduct testing.
Helitai said that there has been a technical reserve in the field of flexible display and mass production experience in flexible bonding; there are successful cases in the field of OLED display modules. Dongshan Precision said that its main business is Weixin Electronics, which can be widely used in intelligent electronic terminals, automobiles, medical and other fields. Zhongjing Electronics said that the company does not directly produce OLED displays, but its subsidiary, Yuansheng Electronics, can provide component parts services for its downstream core customers' OLED displays. These products are mainly used in smartphone displays.
The GF Securities Research Institute pointed out that domestic suppliers are forming supply matching capabilities in terms of material supply in the OLED industry chain. For example, Wanrun shares of Luminescent Materials, Huiyang Huicheng; Sanli Spectrum of polarizer links; Dongshan Precision and Hongxin Electronics of FPC; Zhongying Electronics of driver IC; Ashi Chuang of Targets The product supply capability is expected to replace the share of overseas suppliers in the future and drive down the cost of OLED panels.
Low localization rate
The OLED panel industry chain is long, involving many parts and products, which can be roughly divided into upstream raw materials, mid-stream OLED panel manufacturing and module assembly, and downstream display application fields.
The domestic OLED industry upstream material suppliers are gradually forming supply capacity, but due to the high product technology threshold, there are not many mass productions. Most of the supply rights are in the hands of companies such as Japan, South Korea and the United States.
In terms of key equipment, the evaporation equipment involved in OLED panels is almost monopolized by Japanese manufacturers. The Japanese manufacturer Cannon Tokki's evaporation equipment has a tight production capacity and is exclusively taken over by Samsung. In recent years, the growth of equipment capacity has enabled domestic OLED panel manufacturers such as BOE and Visionox to purchase smoothly, laying a foundation for domestic OLED capacity expansion.
Chen Yanshun, chairman and CEO of BOE Executive Committee, said in an interview with China Securities Journal reporter that in the field of semiconductor display, Chinese companies are able to mass-produce products mainly at the raw material end. In terms of LCD display, the domestic materialization rate of domestic materials is about 65%. In terms of equipment, the most important equipment exposure machine is still mainly supplied by overseas companies; however, many equipments can basically be localized, and the localization rate is about 45%.
In terms of OLED display, the localization rate of materials is lower, probably less than 10%-15%. However, Chen Yanshun believes that as domestic OLED panel makers expand their production capacity, they will drive the development of upstream materials and equipment enterprises in the domestic OLED industry chain.