As one of only two polarizers in China that can mass-produce important materials for liquid crystal panels, SLP Optoelectronics Technology Co., Ltd. (hereinafter referred to as "SLP"), which has just been established for ten years, is on May 12 The "IPO Prospectus" was formally disclosed on the day.
The prospectus shows that SLP is mainly engaged in the research and development, production and sales of polarizer products. The main products include TFT series and black and white series polarizers. The company's products are mainly used in consumer electronics display screens such as mobile phones, computers, and LCD TVs, as well as industrial control electronics display screens such as automotive electronics, medical equipment, instruments and meters, and can also be used in 3D glasses, anti-glare sunglasses, and so on.
The liquid crystal display module mainly includes six materials: a mixed liquid crystal material, a driver IC, a polarizer, a backlight module, a glass substrate, and a color filter. Polarizers account for about 10% of the cost of the entire LCD module, but it is also one of the most difficult areas for localization of LCD module technology.
According to the online understanding of new materials, currently only SLP and SB Optoelectronics can mass produce polarizers in China.
Difficult domestic polarizers
The full name of the polarizer is a polarizer, which is located on both sides of the LCD panel. By transmitting or blocking the light emitted from the backlight module, the pixel brightness is adjusted and colors are reproduced, so that the human eye can see a brightly colored display image. Without the polarizer, the LCD panel cannot display.
The prospectus shows that the production of polarizers involves product structure design, chemical material formulation, optical performance testing, high-precision key equipment design, automated process technology and control and other related technologies, including chemical, optical, physical, mechanical, functional materials and High-end knowledge in areas such as automation control is an advanced manufacturing industry with high integration and high-tech content. The technical threshold has been high.
The prospectus shows that due to the high threshold of polarizer technology, the market is mainly monopolized by LG Chem, Sumitomo Chemical and Nitto Denko. However, with the continuous technological accumulation in emerging markets, the market concentration of Japanese and South Korean manufacturers has decreased. It is estimated that from 2014 to 2018, the top three manufacturers have been LG Chem, Sumitomo Chemical, and Nitto Denko. Although the market structure has not changed much, the market share has dropped from 72% in 2014 to 66% in 2018. Regional and mainland Chinese manufacturers are gradually increasing their production capacity, and their market share is gradually increasing.
According to new materials online, currently, in addition to the three giants of global polarizers, LG Chem, Sumitomo Chemical and Nitto Denko, there are also BenQ Materials, Chi Mei Materials in China's Taiwan region, and domestic Trilip and Shengbo Optoelectronics. Among them, the actual output of SB Optoelectronics in 2016 was 8.667 million square meters . SLP's Shenzhen production capacity is 7 million square meters. After the completion of the first phase of the SLP roject in October 2016, SLP's production capacity has rapidly increased to 23 million square meters.