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Supply Chain:

According to the purchase of Chinese brands in November, on the panel supply side, although the capacity of panel plants began to recover slightly, the overall operation remained at a low level; On the demand side, the overall market performance of the "11.11." shopping festival in the Chinese market was lower than expected, but TCL/Hisense and other leading brands achieved counter trend growth by their supply chain and multi-brand operation advantages; The performance of TCL/Hisense's "Black Friday" market in the North American market exceeded expectations, but the brands were generally pessimistic about the market expectations after the promotion season. Influenced by the increase of brands' inventory demand at the end of the year, the market feedback on the recovery of large-size demand, the contraction of small-size demand, and other factors, the procurement strategy generally continued to shrink, and the contraction of the demand of small-size panels was significant. According to the research data of Sigmantell, in November, the purchase volume of TOP7 Chinese brands' panels was 8.6 million pieces, a 29% increase YoY, but a 3% decrease MoM. In December, the expected purchase volume of brands was generally lowered, ensuring a healthy inventory at the end of the year. It is expected that the purchase volume in December will be reduced to 6.5 million pieces, down 25% MoM. Affected by the Y23Q1 Spring Festival holiday on the production capacity of TV set makers, and the arrival of the market off-season, It is expected that the contracting trend of procurement strategy will be maintained to Y23Q1.

Brand analysis:

(1) Hisense
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(2) TCL
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(3) Skyworth
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(4) Changhong
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(5) Konka
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(6) Xiaomi
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TV Set Shipment：
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Brand analysis:

(1) Hisense
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(2) TCL
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(3) Skyworth
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(4) Changhong
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(5) Haier
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(6) Konka
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(7) Xiaomi
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Inventory Status：
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