Polarizing substrate (8215-TW) held a meeting on November 2, due to the panel industry economic downturn, Chairman Chen Jianzhi pointed out that the third quarter of the average polarizing ASP down about 4-6%, the fourth quarter is expected to be pressure, in addition, the electric vehicle industry is also affected by the environment, growth slowed down, It is estimated that the original annual production capacity of 100 million square meters of battery isolation membrane at the Wuhu plant in China will be postponed to the first half of next year.
Chen Jianzhi said that the panel industry economy since May and June this year began a cliff recession, and he said that the current environment has not returned, although Taiwan panel factory due to early control of inventory now some urgent orders, but Chinese customers are still lower production, so the overall industry economy is not good.
Chen Jianzhi further pointed out that at present, the average industrial profitability is about 50%, and the Ming substrate is about 65%. Judging from the current situation, it is expected that the industrial correction will continue for one to two quarters, and the international financial industry has not yet seen a bright opportunity, and it is still hard at this stage.
Legal person asked whether the polaroid prices have hit bottom, and George Chen said, oneself also hope to have a floor, general manager of Liu Jiarui complement, in the third quarter, polaroid ASP average is 4-6% drop in the second quarter, the fourth quarter panel demand, laptops, IT panel is still weak, TV is a little stabilizing, but unstable customer status, forecast the price will be down again.
Battery diaphragm career is influenced by environment growth, Liu Jiarui said that this year the battery isolation membrane in revenue growth forecast at 20%, but in wuhu factory production equipment installed delay, expected annual capacity during the first half of next year is expected to increase to 100 million square meters, the annual capacity this year fell on 40 million square meters, is expected in the first quarter of 2025, Taiwan's yunlin factory, By then, the annual capacity of the two sides will maintain the target of 170 million square meters.
Customer, Liu Jiarui said, at present Thailand cell customers have a certain amount, Japan also has a car cell plant volume, the second is expected to be in the fourth quarter of this year trial production, next year's contribution, also revealed that the fourth quarter of next year will have another Japanese car factory to join, Ming substrate is currently focusing on the hybrid car.
As for the distribution of interest, capital expenditure, Chen Jianzhi said, Ming substrate in the past dividend rate maintained around 50%, Chief financial Officer Wang Shengxing explained that this year due to the delayed delivery of equipment, the annual capital expenditure estimated at 1.4 billion yuan, but in the next three years, the total capital expenditure of 5 to 6 billion yuan plan remains unchanged.
Ming substrate today also announced October revenue, monthly revenue reached 1.166 billion yuan, a monthly increase of 5%, annual decrease of 10.7%, the cumulative first October revenue reached 13.088 billion yuan, annual decrease of 4.5%.
