Do it bigger and bigger-obviously the future development trend of touch screen. Apple has promoted touch screens in people's daily lives, while companies such as Samsung have made the trend of enlargement of touch screens clearer.
Because the competition for small-size touch screens is too fierce, relatively speaking, the market space for large-size touch screens is more optimistic. Since the beginning of this week, Huiguan Co., Ltd. has experienced multiple daily limits since it received orders for Lenovo's large-size touch screens.
“After the previous large-scale production of small-size touch screens, the current overall output is relatively large, the market is relatively saturated, and the threshold is low, and there are many funds to enter. Relatively speaking, the yield of large-size touch screens is not high yet. Wide space. "On May 24, Zhang Yang, an analyst at Guojin Securities Wealth Management Center, said.
Nonetheless, the touch screen sector is one of the popular sectors this year. After the previous surge, the current valuation is already very high. Analysts suggest that investors should intervene after the sector's callback.
Large-size touch screen market space is optimistic
Compared with other leading companies in the touch screen industry, Huiguan has not received much attention in the capital market before, and this time, due to a paper announcement, the company has experienced multiple daily limits.
On the evening of May 20th, the company issued an announcement saying that it has successively received notices of Lenovo's project cooperation in supplying touch screens. The letter shows that the company has become one of the main suppliers of some of Lenovo's product projects, and the product projects will successively purchase touch screens from the company between August 2013 and April 2015.
This is the first cooperation between Lenovo and Huiguan Co., Ltd., and it is also the first time that Huiguan Co., Ltd. passed the Microsoft test and certification of its large-size infrared touch screen prototype on November 23 last year, and its products have once again been recognized by computer manufacturers.
Lenovo executive Gerry Smith said in an interview with the media that Lenovo and the entire PC industry have underestimated the demand for Windows 8 touch screen devices. From the current sales situation, the demand for Windows 8 touch-screen PCs exceeds expectations.
According to reports, the biggest highlight of Windows 8 is to support touch operation functions, so you need to use a large-size touch screen. It is generally believed that a large size refers to a touch screen larger than 10.4 inches.
"The reason why large-size touch screens are respected is because ultra-books and large-screen smartphones are gradually favored by consumers. Manufacturers are increasingly investing in large touch screen technology research and development, and their future growth is worth expecting. At the same time, non-Apple Mobile phone and computer manufacturers have sprung up and placed revenue growth points in the field of large touch screen products, which can effectively drive the rapid development of the entire market. "Wang Ningyuan, an IT industry researcher at CIC Consulting.
Guojin Securities said in a research report released that there is a supply gap for ultra-large touch screens. Currently, only OGS technology and GF2 technology can realize large-size touch screens. The most high-end smartphones from the non-Apple camp will counterattack in 2013, and the most suitable non-Apple camp is the OGS technology.
According to a research report released by Ping An Securities, in the field of small and medium screens, the situation of judging overcapacity will still exist in the future. This year, there is a very high possibility that there will be a shortage of supply in medium and large sizes. Moreover, due to the rapid increase in demand for touch screen area in 2014, the overall industry in 2014 still has a very high probability to maintain a high prosperity.
Leading company layout large-size touch screen
At present, there are multiple technical paths for large-size touch screens.
"The most popular touch screen technologies are P + F and P + G technologies, GG and GFF technologies, OGS and In-Cell, while the large touch screen technology is dominated by OGS and GFF, and the most suitable non-Apple camp is the OGS technology .In-Cell technology still has shortcomings in terms of yield and cost. If it can be effectively improved in the short term and put into commercial operation, its development prospects will also be very impressive. "Wang Ningyuan said.
Ping An Securities believes that from 2010 to 2012, the overall touch screen market maintained a trend of rapid growth, mainly benefiting from the high growth of smartphone shipments. However, due to the introduction of production capacity and fierce competition, most touch screen manufacturers have experienced the pain of falling profit margins. However, since the third quarter of last year, with the shipment of touch notebooks and the rapid advancement of tablet computers, the overall supply and demand situation of the touch industry has continued to improve.
The brokerage believes that for the touch screen industry, the increase in the size of smartphones is an extremely favorable trend. The average size of touch screen smartphones in 2012 was about 3.5 inches, and it will increase to about 4 inches in 2013. According to estimates, the overall area of ​​demand for touch screens from smart phones has increased by about 55.7%.
Driven by smart phones, tablet computers and touch-type notebooks, the touch screen industry will maintain an industry growth rate of approximately 20% in the next two years. With the continuous maturity of the technology of first-tier manufacturers and the exertion of scale effects, market share will be more and more concentrated in the hands of first-tier manufacturers.
"At present, the leading companies in the touch screen industry have basically been laid out in terms of large-size touch screens, and orders have gradually begun to generate." Zhang Yang believes.
Wang Ningyuan said that the favor of large-size touch screens is expected to drive the rapid development of the entire industry chain, including Leibao High-tech (002106.SZ), Changxin Technology (300008.SZ), Shenzhen Tianma A (000050.SZ), and Ophelia (002456 .SZ) and other companies are expected to benefit.
Dongguan Securities believes that with the adjustment of product structure, Leibao High-Tech's overall gross profit margin still has a downward trend, but the company's OGS production capacity is gradually released to meet the demand for large-scale touch-based ultra-large touch, and the revenue is expected to be doubled. The company's profit turning point has come.
Ou Feiguang has already achieved certain results in the notebook field, and has officially mass-produced ultrabook touch screens such as Samsung 13.3, 15.1 inches, Lenovo 14.11, 15.6 inches and so on.
Changxin Technology stated in the first quarter report this year that the company has successfully developed medium and large-sized module products and installed them in terminal products. With the launch of Windows 8 operating system with touch function in October 2012, large and medium-sized smart terminals such as tablet computers, touch notebooks, and all-in-ones will also grow rapidly.
In addition, Wanshun Co., Ltd. (300057.SZ) has also entered the touch screen segment due to its involvement in the conductive film business. ITO conductive film accounts for 24% of the total cost of the touch screen, which is the core material of the touch screen. Some brokerages released research reports that they are optimistic about Wanshun's business. However, the conductive film business accounted for a small proportion of the company's operating income. At the end of last year, this business accounted for only 1.32%.
Sector valuation is high
"After the previous surge in the touch screen sector, the current valuation is already high. In addition, the second quarter is the traditional off-season of the industry, so at this time, we do not recommend investors to enter. It will be better to intervene after the stock price pulls back. Choice. "Zhang Yang said.
Wind statistics show that the current valuation of the touch screen concept sector is already high. For example, the dynamic price-earnings ratio of Ophelia and Leybold Technology has reached a high of 51.26 times and 41.62 times. Due to the suspension of trading for many days, the current dynamic price-earnings ratio of Changxin Technology is only 27 times. Wanshun shares have a 24.88 times valuation because of the relatively small business involved.
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