The hottest price rise is like a double-edged swor

2022-09-23
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"Price rise" is like a "double-edged sword"

over the past few years, TV prices have been falling, but prices have "soared" in recent months. The reason is that recently, the prices of various industrial raw materials have soared, especially subject to the wide-ranging rise in the prices of copper, steel, plastics and other raw materials, and finally chose to absorb the pressure of rising costs by raising prices

however, the price rise is like a "double-edged sword", which makes end consumers complain, but makes LCD panels and other industries in the upper reaches of the industrial chain earn a lot

the rising price of raw materials is the main reason

since the second half of 2016, the home appliance industry has faced greater pressure to increase prices. The prices of raw materials such as copper, aluminum, steel and LCD panels have risen, forcing home appliance enterprises to choose to increase prices

take Internet TV as an example. When announcing the price increase on February 27, LETV said that due to the lack of panel supply in the upstream supply chain, the panel price continued to rise too fast, the purchase cost of components and other comprehensive factors, the amount of ecological subsidy hardware for a single TV continued to increase

as for the rise in TV prices, Li Yaqin, deputy general manager of Qunzhi consulting, pointed out in an interview with "the prospect of daily economic progress is very decadent". First, the panel price has increased significantly in this round and lasted longer than expected. In the past, the price rise and fall was from half a year to three quarters, which was quite regular, but this round of price rise basically started from the second quarter of 2016, and so far some sizes are still rising. Judging from the price rise time of the whole panel, it has been almost a year; Secondly, in the domestic market, the entry-level 40 inch and 43 inch prices have increased by more than 60% since they began to rise, while the large sizes such as 55 inch and 65 inch have increased by about 21% to 22%. In general, such a large increase is indeed a great pressure on the profits of color TV manufacturers

Li Yaqin said that in this round of price increases, no brand can be spared. He just said that the increase depends on the affordability. According to Li Yaqin, color TV manufacturers are losing money on 40 inch TVs. Therefore, color TV manufacturers adopt two directions to adjust their profits: one is the collective transformation to a profitable high-end; First, price increases. In addition to panels, the semiconductors of TVs are mainly DDR and EMMC, which have increased by 30% - 40% since the fourth quarter of last year, and DDR even tripled

insiders of a domestic panel manufacturer also told that as the price of TV panels accounts for 60% to 70% of the price of the whole machine, the rise in the price of panels has led to the rise in the price of TV launched by the brand of the whole machine, and Internet TV is no exception

according to the price monitoring of the business club, the average increase in the price of plastic products since the third quarter of 2016 is 4. 92%, of which the PVC price increased by 25 year-on-year. 79%, ABS prices rose 13 year-on-year. 67%, and the price of PP also increased by 1 year-on-year. 39%, which are the main plastic raw materials used in the manufacturing of household appliances

according to the salesperson of a well-known household appliance brand in China, "the prices of raw materials of household appliances are rising across the board, not only the prices of copper, zinc, aluminum and so on, but also the prices of cartons."

from February 13 to February 14, Nine Dragons Paper, a leading paper enterprise, announced that the prices of Taicang nine dragons, Dongguan Nine Dragons Kraft linerboard and corrugated paper increased by 200 yuan/ton, and many paper enterprises in Fuyang whiteboard base announced that the prices of finished paper increased by 100 to 150 yuan/ton at the same time. This is the third round of price increase of base paper since February

Southwest Securities (6.950, -0.02, -0.29%) recently released a research report on the home appliance industry, which showed that the prices of copper, aluminum and plastic, the main raw materials of home appliances, increased significantly in 2016, stimulating the cost rise of the home appliance industry chain. After a period of adjustment, PPI gradually transmitted to CPI, the atmosphere of price war in the air conditioning market gradually dissipated, and the terminal price began to rise. "We expect that in the first half of 2017, the terminal price of air conditioning will increase slowly, and the increase in terminal price will offset the pressure brought by the rising cost and improve the profitability of the industry. At the same time, the terminal price increase will objectively help promote industrial upgrading."

there are not a few people who share the same view with Southwest Securities. Chen Jianmi, a researcher at Shanghai Securities, also pointed out in the investment strategy report that commodity prices are global pricing. Benefiting from the global economic recovery, the US CPI exceeded expectations, and the price of raw materials will rise more or fall less in the future. In addition, the cycle of copper price rise to air conditioning products is about 6 months, and copper accounts for more than 20% of the cost of air conditioning. Copper prices have soared since early November last year, and the entire air conditioning industry will rise again from March to April. At present, copper has broken through the previous high at the end of November, and the price rise will continue to be transmitted

hongshibin also told that in addition to bulk commodities, the state now pays more and more attention to environmental protection, and the cost of environmental protection should also be considered for spare parts of household appliances such as plastics and cartons

panel enterprises become big winners

the price rise is like a "double-edged sword". On the one hand, it brings painful reactions to the consumer side, but on the other hand, Dr. Deakin has begun to use graphene materials, which also means that the mineral, chemical and metal casting industries will further stabilize. According to the data released by the National Bureau of statistics, in January 2017, industrial producer prices (PPI) rose for the fifth consecutive month, with a year-on-year increase of 6. 9%, the largest increase since August 2011. In addition, the National Bureau of statistics also pointed out that industries such as petroleum processing, ferrous and non-ferrous metal smelting and processing, chemical raw materials and chemical products manufacturing affected PPI by about 5% year-on-year. 7%。

"daily economy" noted that in this round of rising prices, enterprises producing panels have become big winners

as one of the world's largest LCD panel manufacturers, South Korea's lgdisplay company released its financial report for the fourth quarter of 2016 at the end of January, which showed that the company achieved an operating profit of 904.3 billion won in the quarter, and its revenue in the quarter increased by 18% year-on-year to 7. 9 trillion won. It is worth mentioning that due to the rise in panel prices, lgdisplay's operating profit in the quarter almost doubled year-on-year, setting a record high profit

looking at the domestic market, BOE technology group, a liquid crystal panel manufacturer (hereinafter referred to as "BOE a (3.220, 0.01, 0.31%)"), has turned losses into profits. According to the financial report released by BOE a, the company achieved revenue of 264 in the first half of 2016. 4.8 billion yuan, an increase of 15% over the same period last year. 14%; The net profit attributable to the shareholders of the listed company is -5. 1.6 billion yuan, but in the third quarter of 2016, the company achieved operating income of 193. 9.4 billion yuan, with a net profit attributable to shareholders of listed companies of 6. 5.7 billion yuan, a year-on-year increase of 1494. 35%。

tcl group (3.620, 0.00, 0.00%) released the third quarter report of 2016, which showed that the group achieved an operating revenue of 776 in the first three quarters. 900 million yuan, an increase of 4. 83%; Realize net profit 20. RMB 400million, net profit attributable to shareholders of listed companies 15. 400million yuan, benefiting from the improvement of performance in the third quarter, the year-on-year decline was significantly narrowed. TCL achieved a net profit of 12% in the third quarter. 500 million yuan, an increase of 140 year-on-year. 3%; Net profit attributable to shareholders of listed company 9. 3.2 billion yuan, a year-on-year increase of 110. 4%。 TCL group said that benefiting from the significant improvement of the performance of csot and multimedia in the third quarter, the year-on-year decline in the performance of the group in the first three quarters narrowed significantly. According to the data, with the recovery of LCD panel prices and the improvement of production capacity and efficiency, csot achieved a net profit of 7% in the third quarter. 7.2 billion yuan, a year-on-year increase of 40. 1%。

according to the "2016 third quarter report review of the household appliance industry" released by Changjiang Securities (10.270, -0.03, -0.29%), the main business of the household appliance sector in the first three quarters increased by 9% year-on-year. 12%, with an increase of 20% in three quarters. 60%, significantly increasing the growth rate of main businesses month on month. It is expected that the overall growth rate of main businesses in the industry in the fourth quarter is expected to continue to improve under the background of a low base. In addition, the net profit attributable to the industry in the first three quarters increased by 20% year-on-year. 44%, with an increase of 32 in the third quarter. 91%, generally speaking, it is better than the market expectation; Among them, white electricity accounted for the highest proportion, while the modulus of glass fiber reinforced materials was between 20 and 24 GPA, and the performance in the first three quarters increased by 14 year-on-year. 97%。

insiders of the above panel manufacturing enterprises told that the rise of panels was on the one hand affected by the adjustment of production lines by panel suppliers. In order to expand the production capacity of AMOLED panels, Samsung closed plant L in December 2016, and this production line accounted for about 15% of Samsung's overall LCD panel production capacity and 3% of the global production capacity, resulting in the increasingly serious problem of LCD panel supply and demand; On the other hand, the global LCD TV panel market will continue to develop in the direction of large-size, and large-size panels above 45 inches are expected to maintain more than 5% 7 Be sure to turn off the power switch when exchanging the head mold; With the growth of TV, the upgrade of TV size also needs to consume more panels. From 32 inches to 65 inches, the panel price generally rose, with an increase of $10 to $60. Most panel manufacturers in the upstream supply chain increased their prices unanimously

in addition, Great Wall Securities released a research report on February 8, which pointed out that the actual supply of the panel industry has not increased in the short term. Without a significant decline in the demand side, the tight supply and demand situation of the industry will continue, and the mainstream panel price will continue to rise in the first quarter of 2017

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