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Polaroid last spring Chi Mei prices have soared nearly 10%
    As a panel of supporting devices, in the first half of this year, helpless is not with the polarizer film prices soared and soared. Although panel prices soared this year, but in the TFT-LCD cost structure accounted for 10% to 20% of the polarizer has suffered serious bargain, especially the polarizer upstream components rely heavily on Japanese imports, leading to polarizer manufacturers operating And the yen is closely related to the trend. In the first half, Chi Mei material and Ming substrate, especially by the upper reaches of the yen rose and the lower bargaining double attack, leading to the first half of the three companies are at a loss.
    But into the second half, the price began to rumors polarizer improved, but has been "thunder and little rain," the price is not up, the market rumors that the market price of the first few months to the polarizer; but to the fourth quarter, according to market news Said the price of polarizing films from the fourth quarter, single-quarter price increases of 3% to 7%. In the good news to promote,   December 27, Chi Mei material, Ritter and Ming stock prices are both soaring, including Chi Mei shares skyrocketed 9.66%, Li special soared 9.88%, while the stock also soared nearly 8% base.
    It is understood that the first three quarters of this year, affected by the appreciation of the yen, the global polarizer plant only Nitto Denko can maintain profitability, Taiwan Polaroid films, the first three quarters of 2016 Chi Mei material net loss of up to 2.52 yuan per NT , The net loss of 1.48 yuan per share, the net loss of 1.18 yuan per share. From the revenue side, then, Chi Mei materials revenue of about 4.778 billion yuan NT, after-tax net loss of 852 million yuan NT; Ming base revenue in the first half of 6.302 billion yuan NT, NT $ 145 million after-tax loss; Net revenues in the first half of about 1.479 billion yuan NT, after-tax net loss of 210 million NT.
    Among them, the price of the substrate is too low, and even in September, the company shut down the factory, but also carried out heavy layoffs. After the closure of the Nanke factory, the main production capacity of the Ming base is concentrated in the Taoyuan plant and Longtan plant. While the special forces in the first half also began to transition, including automotive and industrial products, the proportion of shipments increased rapidly to five percent, in addition, the Korean Polaroid factory also closed the old production line, it is estimated that the year shut down as many as seven production lines; Reduction in the fourth quarter of polarizing film in short supply. At the same time, the second half of this year, strong panel demand, spare parts supply chain has become tight, and never increase the price of polarized film prices finally.
    According to Chi Mei material, from the third quarter polarizer production capacity is quite tight, to the fourth quarter, the order is still very strong, and customer coordination, for non-profitable products to raise prices, the overall price of polarized film steady. Power pointed out that the second half of the price of polarized light can be seen stabilized situation, this year's strategic capacity to switch to car, industrial applications, small and medium size applications, the price is relatively superior to the general bulk products.
    From the panel plant side, this year's group of 8.6 on behalf of the plant, BOE's 8.5-generation plant, the 8.6-generation plant and the benefit of the LGD and Huaxing photoelectric 8.5 generation plants have expanded production in the market strong demand, Of the production capacity is gradually reduced, and the closure of the old factory is basically not to return to work, however, with the polarizer prices higher, does not rule out the next new polarizer the possibility of resumption of the old factory, of course, depends on Polaroid prices rise.
    From the fourth quarter of the reasons for the price of polarizers in addition to production capacity to reduce the strong market demand, there is a very important reason that is the depreciation of the yen, it is understood that recently, the yen depreciation rate reached nearly 10% , According to polarizer manufacturers said that the yen depreciation increased, the fourth quarter there will be a good exchange earnings injection, single-season profit and loss performance will be significantly improved. At the same time, with the material inventory digestion, the devaluation of the impact of the cost of response from December, the impact of the first quarter of next year will be more obvious, benefit from product price increases with the yen to go down, polarizer factory gross margin Has improved.
    In addition, according to Chi Mei material that is still the largest group of customers, but the increase in mainland China, new orders caused by fear of short supply, new factory in Kunshan too late to supply, do not rule out outsourcing to his factory foundry. It is understood that Chi Mei material Taiwan existing four polarizer production line, even then how to bottleneck, can not catch up with the needs of new orders. So the beginning of the second quarter of next year's Kunshan plant, as long as stable production scale, will be timely supply to new customers; even if the new orders to increase, Kunshan new plant second production line can be followed immediately.
    In mainland China, mainland China panel plant in recent years continue to expand new capacity, coupled with South Korean polarizer although the market demand, but the price is not good, so that some products lose money to sell, I am afraid that only the Japanese plant to make money. Optical film manufacturers such as Sheng Bo, three profiling, etc., are used to produce CSTN or with polarizing film after the cutting of the main processing, imports of polarized light in front of more dependent on foreign manufacturers, but this situation is also a big change this year .
    It is worth mentioning that the three profit spectrum in Hefei investment of 1 billion yuan (nearly NT 5 billion), the establishment of two annual production capacity of 16 million square meters of polarizer production line formally put into production, Chi Mei material, the substrate such as Taiwan Polaroid Film industry competition pressure; AUO, group and other panel plants have the opportunity to purchase more price advantage of the components. At present, the company has built three production lines of polarizing film in southern China. The two wide-width TFT polarizing film production lines in Hefei are respectively 1490mm, 10 million square meters and 1330mm. , With an annual capacity of about 600 million square meters. In addition, the three spectrum also plans to build in 2020, two 2300mm polarizer production line and two 1490mmTFT polarizer production line. The next six production lines are expected to put into operation, the three profitable polarizer annual output will reach 80 million square meters. ??
    In addition, in February this year, Tung Yuk photoelectric and the world's three major polarizer giant Sumitomo Chemical Co., Ltd., one of the polarizer film production, horizontal cut into the panel upstream of the core raw materials in the field of polarizer. According to Tung Yuk Optoelectronics, it cooperated with Sumitomo Chemical Co., Ltd., Touyou Fine Chemical Co., Ltd. and Tumi   International Co., Ltd. to set up a subsidiary company, "Asahi Electronic Materials Technology (Wuxi) Co., Ltd.", to purchase, Polaroid processing and sales in China. There is no doubt that Taiwan polarizer manufacturers is bound to face the pressure of the mainland manufacturers, while the mainland manufacturers until the release of production capacity, the polarizer prices will be eased.