Sputtering process is the bottleneck of production capacity. Capacitive screens are still in short supply next year. Currently, the bottleneck of production capacity of glass capacitive screens is the sputtering process. In the CF (color film) process of common TFT-LCDs, the sputtering process only takes 24 seconds. Yes, but Sputter for projected capacitive screens takes 65-70 seconds, which means that the production capacity is almost half off.
In addition, the purchase of sputtering equipment is also time consuming, and the purchase cycle is at least six months. Due to the time-consuming expansion of the sputtering process, the capacity expansion was slow, and the manufacturers could not increase the output based on the original capacity. According to Foxconn’s demand for OCA film, Apple’s iPad orders are expected to reach 40 million units next year; the touch screen factory’s capacity is far from enough.
Laibao Hi-Tech Co., Ltd.: Leading the domestic touch panel and enjoying rapid growth in the industry: The company has accumulated in the field of ITO conductive glass for many years, and it has demonstrated its persistence value through the indirect supply to Apple. Since the touch screen field is in need of talents and experience, the company has obvious advantages in these two areas. With the capacity of Glass capacitive screens continuing to be tight, upstream material suppliers will enjoy the premium effect caused by the short supply of products. In the future, the company will continue to expand the production of small and medium-sized products. The medium and large-sized projects will become the bright spots in the future. We think that Leybold Tech is the most worthy investment target for domestic touch screens.
Ultrasound Electronics: Music Phone capacitive screen exclusive supplier: Ultrasonic Electronics Lenovo Music Phone touch screen, but the current yield level does not contribute to profitability, the future expansion of yield rate can be increased to make a greater contribution to profit still need to observe .
Yushun Electronics: STN to make a touch screen is not difficult: the company from the main STN to touch the screen to meet market trends, but the touch panel needs talent and circuit design capabilities will test the company. The yield of the sputtering process and the size of the glass substrate may limit the company's rapid expansion of production capacity and good cost control. In the short term, the touch screen may have limited contribution to the company.
Jinfu New Materials: continue to be optimistic about the optical film cutting market: The company hopes to cut through the Japanese OCA glue into the apple supply chain with its experience in the cutting process on optical films; however, 3M should still maintain over 70% in the Apple OCA glue market next year. Market share, and the cut is basically not outsourced. Therefore, the company can only compete with the Taiwan factory in less than 30% of the market, and its cutting is difficult. The yield control is not easy. We are optimistic about the future growth of the company in the optical film cutting market, but OCA glue and light guide plates maintain a more neutral view of the company's future profit contribution.
Shen Tianma A: The foundation of Shang Tianma is solid, and the market for small and medium-sized panels is being deeply ploughed: The company recently repurchased Tianma, and in the future, Wuhan and Chengdu may be merged into it. Apart from the value of restructuring, the solid foundation of Shangtian Mazha has made the company a lot of revenue, but there are some problems in the company's switch to touch screens in the thickness of glass substrates, the bottleneck of sputtering process, and the number of generation lines is not the most economical. In addition, AMOLED still needs more time to observe the future.
ST Tianlong: The production yield of optical film is the key: The company has entered the field of optical films. Since the yield rate is the most critical issue, it takes time to run-in equipment and personnel. In addition, it needs continuous efforts in raw material acquisition and downstream channel development. . It is difficult to make profit in the brightening film market. In the past, there were many cases of failure of the diffusion film in the Asia Pacific region (especially Korean factories), and the company’s future profitability was highly uncertain.
In addition, the purchase of sputtering equipment is also time consuming, and the purchase cycle is at least six months. Due to the time-consuming expansion of the sputtering process, the capacity expansion was slow, and the manufacturers could not increase the output based on the original capacity. According to Foxconn’s demand for OCA film, Apple’s iPad orders are expected to reach 40 million units next year; the touch screen factory’s capacity is far from enough.
Laibao Hi-Tech Co., Ltd.: Leading the domestic touch panel and enjoying rapid growth in the industry: The company has accumulated in the field of ITO conductive glass for many years, and it has demonstrated its persistence value through the indirect supply to Apple. Since the touch screen field is in need of talents and experience, the company has obvious advantages in these two areas. With the capacity of Glass capacitive screens continuing to be tight, upstream material suppliers will enjoy the premium effect caused by the short supply of products. In the future, the company will continue to expand the production of small and medium-sized products. The medium and large-sized projects will become the bright spots in the future. We think that Leybold Tech is the most worthy investment target for domestic touch screens.
Ultrasound Electronics: Music Phone capacitive screen exclusive supplier: Ultrasonic Electronics Lenovo Music Phone touch screen, but the current yield level does not contribute to profitability, the future expansion of yield rate can be increased to make a greater contribution to profit still need to observe .
Yushun Electronics: STN to make a touch screen is not difficult: the company from the main STN to touch the screen to meet market trends, but the touch panel needs talent and circuit design capabilities will test the company. The yield of the sputtering process and the size of the glass substrate may limit the company's rapid expansion of production capacity and good cost control. In the short term, the touch screen may have limited contribution to the company.
Jinfu New Materials: continue to be optimistic about the optical film cutting market: The company hopes to cut through the Japanese OCA glue into the apple supply chain with its experience in the cutting process on optical films; however, 3M should still maintain over 70% in the Apple OCA glue market next year. Market share, and the cut is basically not outsourced. Therefore, the company can only compete with the Taiwan factory in less than 30% of the market, and its cutting is difficult. The yield control is not easy. We are optimistic about the future growth of the company in the optical film cutting market, but OCA glue and light guide plates maintain a more neutral view of the company's future profit contribution.
Shen Tianma A: The foundation of Shang Tianma is solid, and the market for small and medium-sized panels is being deeply ploughed: The company recently repurchased Tianma, and in the future, Wuhan and Chengdu may be merged into it. Apart from the value of restructuring, the solid foundation of Shangtian Mazha has made the company a lot of revenue, but there are some problems in the company's switch to touch screens in the thickness of glass substrates, the bottleneck of sputtering process, and the number of generation lines is not the most economical. In addition, AMOLED still needs more time to observe the future.
ST Tianlong: The production yield of optical film is the key: The company has entered the field of optical films. Since the yield rate is the most critical issue, it takes time to run-in equipment and personnel. In addition, it needs continuous efforts in raw material acquisition and downstream channel development. . It is difficult to make profit in the brightening film market. In the past, there were many cases of failure of the diffusion film in the Asia Pacific region (especially Korean factories), and the company’s future profitability was highly uncertain.
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