In 2020, there was a general supply shortage in the market due to COVID-19, and the polarizing market is seeing a resurgence as investment returns. And due to the lack of material in the upstream of the polarizer, in the first half of this year, the polarizer has been in short supply. But Omdia predicts a surplus of more than 10% starting in the fourth quarter of 2022. In the face of short supply of polarizer, what new actions are there in the polarizer industry?
1. Shanjia Optoelectronic Polaroid Project settled in Chenzhou, Hunan Province
On January 18th, Yizhang County, Chenzhou City, Hunan Province held a project signing ceremony with Shenzhen Shanjia Photoelectric Technology Co., Ltd. Hunan Shanjia Optoelectronic Technology Co., Ltd. is invested and constructed by Shenzhen Shanjia Optoelectronic Technology Co., Ltd., which is located in the industrial undertaking park of Yizhang County Economic Development Zone. The project will invest 200 million yuan in the construction of polarizing film production line, and the annual output value is expected to reach 500 million yuan after putting into operation.
Shenzhen Shanjia Optoelectronic Technology Co., Ltd. was founded in 2017 and is mainly engaged in the technical development and sales of electronic components, the development and research of polarized light technology and the processing of polarized light materials, etc.
2. After the crossover of polarizer by Shanshan Corporation, it is planned to build two new production lines of polarizer for wide-format LCD
On March 3, shanshan shares, according to the announcement, based on the development trend of domestic flat-panel display industry continues to grow, in combination with a subsidiary company of zhangjiagang shan gold business planning, the company's board of directors agreed to zhangjiagang shan gold investment in zhangjiagang economic and technological development zone construction 2 LCD with polaroid production line, the amount of investment in fixed assets of about 2.187 billion yuan.
The company's holding subsidiary Suzhou Shanjin (70% of which is held by the company) holds 100% of Zhangjiagang Shanjin. Zhangjiagang Sunjin and Suzhou Sunjin Co., Ltd. are newly established companies for LG Chem's LCD polarizer business and related assets.
The new project will build two 1490mm wide LCD polarizer production lines, as well as supporting post-processing equipment, power and environmental protection facilities, with a planned production capacity of about 40 million square meters per year.
The proposed wide-width production line is suitable for the production of TV and IT polarizer, which is beneficial to reduce the import dependence of domestic polarizer and the production cost of domestic LCD panel manufacturers, and improve the level of home-made polarizer. At the same time, the proposed production line will effectively alleviate the company's Nanjing plant capacity constraints.
3. In order to make up the losses, Lite Optoelectronics announced a capital reduction after the sale of its Nanke plant last year
March 25, light plate manufacturers Lite photoelectric announced for capital reduction, to make up for losses.
In the Taiwan Stock Exchange on the same day, Zhao Jirong, chairman of the board, said in a major news conference, in order to improve the financial structure and make up for the accumulated losses on the book, the company plans to handle a capital reduction of more than 1.553 billion Taiwan dollars (equivalent to about 357 million yuan), cancel the shares of 155,333,396 shares, a capital reduction ratio of about 47.75 percent.
Earlier in the second half of 2020, Litenke Optoelectronics acquired the Litenke Polarizing Factory for NT $3.65 billion (about 840 million yuan), which helped Litenke make up for last year's operating loss and turn full-year results into a profit, ending four consecutive years of losses.
4. With a total investment of about 4.2 billion yuan, the world's largest single polarizer production base is under construction
On March 31, Fumi Intelligent Manufacturing Industrial Park Hengmei Optoelectronic Polaroid Project was officially built. The project is located in Fuzhou Airport Economic Zone, covering a land area of about 157.7 mu, with a total investment of about 4.2 billion yuan and a total construction area of about 124,000 square meters. It plans to build two polarizer production lines, including production workshop, substation, horizontal warehouse, comprehensive workshop, chemical warehouse, resource recovery plant, etc. After the completion of the project, it will become the world's largest single polarizer production base.
5. Sanli Spectrum plans to set up a wholly-owned subsidiary with 100 million yuan. Flexible AMOLED polarizer has been sent to customers for testing
On April 6, Sanlipu announced that it planned to invest RMB 10,000 million with its own funds or other self-raised funds to set up a "wholly-owned subsidiary Shenzhen Sanlipu Photoelectric Technology Co., Ltd." (tentative name) in Pingdi Sub-district Central Community, Longgang District, Shenzhen, with 100% equity.
It is reported that the main business scope of Shenzhen Sanlipu Optoelectronic Technology Co., Ltd. is the research and development and sales of polarizer, protective film, solar film and photoelectric materials. As one of the steps of the product layout of Sanlipu Polarizer, the establishment of a subsidiary is conducive to further promote the development of the company's polarizer business.
6. BOE /TCL Polaroid supplier Hengmei Optoelectronics plans to IPO and has been listed for guidance and filing
In April, Jiangsu Regulatory Bureau disclosed its area of enterprise guidance record information, Hengmei Optoelectronics has been on April 30, 2021 for guidance record registration, guidance agency for Haitong Securities.
It is understood that the Hengmei optoelectronic research and development team has successfully developed the ultra-large size UV glue hydrophobic type of high-quality polarizer, and smooth mass production; Line 2 has successfully mass produced 65 ", 70 ", 75 "and other mainstream ultra-large size TV polarizers, and stable delivery, mainly used in Samsung, Sony, Hisense and other high-end TV; At the same time, "86", "98", "105" and other oversize commercial display machines have been mass produced. The annual sales area will exceed 30 million square meters in 2020.
At present, the annual production capacity of Hengmei Optoelectronic is about 60 million square meters. It is expected that after the construction and integration of the existing production lines, the annual production capacity will reach 200 million square meters in 2023, which can meet 30% of the domestic market demand and greatly relieve the pressure of supply and demand of polarized film.
7. Samsung accelerates development of depolarized OLED with the first batch expected to be used in the Galaxy Fold 3
In April, ETNens Korea published a report detailing efforts by Samsung Display to offer non-polarized displays, called Pol-less OLED, a structure called On Cell Polarizers (OCP) and Color On Encapsulation (COE), The first batch of AMOLED depolarizers are expected to be available in the Galaxy Fold 3 in the third quarter of this year.
Current prototypes made using the Pol-less process are reported to increase brightness by 20 to 30 percent, and the combination of Pol-less and LTPO reduces power consumption by more than 30 percent.
To commercialize the new process, challenges such as capacity need to be overcome. The process is expected to be used in the production of the Galaxy Fold 3 in the third quarter of this year and could be used in both rolled-up and flexible OLED's, which also represents another way for Samsung's display to stand out from the competition. Of course, all other mobile OLED vendors are also working on this process.
In the face of this trend, Nito is the preferred choice for SDC's current foldable AMOLED for polarizer suppliers. Although its number of foldable products is still relatively small, Nito faces the most immediate risk. Sumitomo Chemical, the main supplier of SDC flexible OLED to Samsung and Apple, is also at risk if the process is phased out on other flexible displays.
8, Longhua film 2,500mm polarized film PMMA base film mass production and supply
On May 8, Longhua Film released news that the company received a notice on May 6 from an important downstream polarizer customer that the base film of Longhua Film ultra large width PMMA polarizer has completely passed the customer's verification, and the production line is officially in mass production and supply. This marks that Longhua Film has become the first domestic manufacturer to achieve mass production and supply of polarized film PMMA base film (PVA protective film, compensation film).
Currently, a number of 2,500mm PMMA polarizer production lines have been put into production or are under construction in China, and the production capacity of ultra-wide polarizer will be released in a concentrated way. In order to better meet the base film demand brought by the production line of 2,500mm ultra-wide polarizer, In 2019, Longhua Film decided to take the lead in building the world's first 2,500mm wide polarized film base film production line. In 2020, the company successfully overcame the impact of the epidemic to ensure the rapid installation and commissioning of the production line.
Longhua Film is a high-tech enterprise focusing on the research and development, production and sales of PC, PMMA and their composite polymer functional films. Longhua Film has developed into a domestic technology leading supplier of PC, PMMA and their composite polymer functional films, and is the first manufacturer in China that uses PC material to produce polarized film phase difference film.
The company's main product lines include cover materials, optical structure materials, printing and flame retardant materials, etc., which are important substrates for the manufacturing of consumer electronics backboards, front cover panels for touch display screens, liquid crystal displays and road traffic signs.
9, Wanwei High-tech 7 million PVA optical film project capping, can be applied to large size polarizing film group
May 31, anhui wanwei group annual output of 7 million square meters of polyvinyl alcohol optical film project factory ceiling, is expected to be completed and put into operation in the second half of this year.
It is reported that the annual output of 7 million square meters of polyvinyl alcohol optical film project is the company's "Fourteenth Five-Year" development plan of the first batch of ten new material projects in one of the key projects, was included in the Anhui Province "triple innovation" one of the major projects.
The project, with a total investment of 354 million yuan, will be started on November 25, 2020, covering an area of 39.7 mu and a construction area of 23,000 square meters. With the self-produced polyvinyl alcohol (PVA) as the raw material, it can be applied to the manufacturing of LCD devices of 60 inches and below. The construction period of the project is 12 months. After the completion of the project, it can produce 7 million square meters of PVA optical film with a width of 3,400 mm and a thickness of 40-75 m per year.
At present, the main works of the workshop have been fully capped, and the civil works are expected to be completed by the end of July. The next step will be the internal decoration, purification construction and equipment installation of the workshop, and the project construction is expected to be completed by the end of October.
10. Shanshan shares acquired 70% shares of LG Chem, and completed the asset delivery of LCD polarizer business
In February 2021, the assets of LG Chem's LCD Polaroid Business acquired by Shanshan will be completed. Shanshan will enter the global LCD Polaroid Market, which is dominated by only a few companies, and become one of the leading enterprises in the LCD Polaroid Industry.
Then, on May 31, shanshan shares relevant implementation progress of the material assets purchase announcement, KPMG consulting (Hong Kong) co., LTD in mainland China 12 months prior to delivery of the asset EBITDA specific audit work has been finished, the asset, the two sides agreed the deal's promise of performance, LG chem don't need to pay cash compensation of listed companies.
It is understood that the performance commitment is the sum of the actual monthly EBITDA of the LCD polarizer business of the underlying transaction for 12 consecutive complete natural months prior to the Closing Date in mainland China. Not less than 70% of the sum of the converted monthly EBITDA measures for 12 consecutive full natural months as set forth in Appendix VIII of the Framework Agreement.
In addition, the registration procedure for the change of intellectual property rights related to the LCD polaroid business is still in progress, and the closing work of the LCD polaroid business of LG Taiwan is also in progress.
11. Polaroid films are directly supplied to BOE, China Electric Panda, and Guanshi Technology will be listed on the Shanghai Stock Exchange
On June 17, Nanjing Guanshi Technology Co., Ltd. (hereinafter referred to as "Guanshi Technology") was approved by China Securities Regulatory Commission (CSRC) for initial public offering and will be listed on the Shanghai Stock Exchange.
The initial public offering of the Company shall not exceed 18.275 million shares, accounting for 25.00% of the total post-issue share capital. According to the prospectus, the company plans to raise 500 million yuan, which will be used for projects such as functional structures, ultra-high-definition liquid crystal display panels and research and development centers.
