At present, the panel industry is affected by the recovery of demand and the accelerated clearance of the supply side, and price fluctuations tend to stabilize. Against the background of the accelerated withdrawal of Japanese and Korean manufacturers, the share and voice of domestic panel manufacturers have steadily increased, driving the increase in demand for domestic substitution of polarizers.
Against this background, polarizers are expected to show an accelerated localization in the future. At the same time, in the field of higher-end OLED polarizers, domestic manufacturers' production capacity and yield are expected to achieve breakthroughs. We are optimistic about the performance release and profitability improvement of manufacturers in the domestic polarizer industry chain under the general trend of accelerated domestic production.
The situation of several key domestic companies in the industry chain is as follows:
1. Ningbo Shanshan Co., Ltd.
Founded in Ningbo, Zhejiang, the company started with clothing business and later transformed into the field of lithium battery negative electrode materials, becoming the first domestic industrialized negative electrode material company, and successively laid out positive electrode materials and electrolyte businesses. After years of development, it has become the world's largest comprehensive supplier of lithium-ion battery materials. In 2021, the acquisition of LG Chemical's LCD polarizer business became the global leader in polarizer business, and achieved the localization of polarizers with innovative technical capabilities and key solutions.
2. Sanlipu Company
LCD+OLED dual layout, differentiated positioning in the small and medium-sized market. The company is mainly engaged in the research and development, production and sales of polarizer products. Its main products include TFT series and black and white series polarizers. It is one of the few domestic companies with the ability to produce polarizers for TFT-LCD. The company is differentiated in the small and medium-sized market. With the increase in OLED penetration in the small and medium-sized market and the company's OLED product technology research and capacity ramp-up, the company's scale benefits are expected to be released faster.
3. Shenzhen Textile Company
Founded in 1984, it is mainly engaged in the production and import and export trade of textiles, clothing and related products, and also operates property leasing, warehousing, real estate development, hotels and other businesses. Focusing on LCD polarizer business, it drives the company's industrial transformation and upgrading.
The company's important businesses include: high-tech industries represented by LCD polarizers; textile and clothing industries represented by overseas clothing processing and high-end seamless underwear; and property leasing represented by Shenzhen Textile Building located in the prosperous commercial district of Huaqiang North in Shenzhen. Based on the actual situation of the enterprise, the company took the initiative to adjust its industrial structure, actively promoted industrial transformation and upgrading, and concentrated on developing polarizers for LCDs, a high-tech industry with independent intellectual property rights and broad market prospects. It has successfully transformed from the traditional textile and garment processing industry into the flat panel display industry.
