Core tips: It is expected that after the off-season in the first quarter of the industry, the demand for replenishment of inventory can be seen in the second quarter, and the second half of the year is expected to meet the peak season.
LGD's operating loss exceeded NT $20 billion in the fourth quarter of last year, setting a single quarter high. LGD was still quite conservative about the outlook for the first half of this year in last week's legal statement meeting. It is expected that the second quarter's shipment will warm up and the loss will shrink. The first half of this year is still at a low level, and the second half of this year will reverse upward. Yoda will also hold the substantive law on February 8, saying that the previous panel double tigers are expected to be cautious and optimistic in the second quarter, and the third quarter will meet the peak season.
Under the influence of many factors such as the decline of panel prices and the provision of inventory depreciation losses, the gross profit margin of Korean panel factory LGD turned negative in the fourth quarter of last year, resulting in an operating loss of 876 billion won, setting a record for the highest quarterly loss. In 2022, the consolidated revenue was about 26.15 trillion won, a decrease of 12.5% compared with the previous year, the loss of the industry was about 2.08 trillion won, and the net loss after tax was as high as 8.93 trillion won.
LGD's outlook for the first half of this year is still relatively conservative. The French conference pointed out that the overall economic environment is still poor, demand is weak, and the supply chain inventory adjustment is expected to continue into the first half of this year. However, LGD listed the inventory depreciation loss in the fourth quarter of last year. The first quarter is no longer affected. It is expected that the revenue will recover in the second quarter, and the loss will also be significantly reduced. The industry is expected to reverse and turn upward in the second half of the year.
In addition, Youda plans to hold a French speaking meeting on February 8, which will be hosted by Chairman Peng Shuanglang, and attended by General Manager Ke Furen, Senior Vice General Manager of Display Strategy Business Group Chen Jianbin, and Chief Financial Officer Zeng Yuzhi. In the fourth quarter of last year, under the strict control of the panel factory's capacity utilization rate, the price of TV panel stabilized, but the shipment was still at a low level. Yoda's consolidated revenue in the fourth quarter was NT $52.65 billion, with a quarterly increase of 5.9% and an annual decrease of 43.4%.
In the fourth quarter of last year, Groupon's revenue was about NT $47.913 billion, down 0.2%. The consolidated revenue of Caijing in a single quarter was about 3.733 billion yuan, with a quarterly decrease of 1.25% and an annual decrease of 29.14%. The market expects that the losses of Taiwan, China panel factories in the fourth quarter of last year are roughly the same as those in the third quarter. However, the losses of panel Shuanghu in the first three quarters exceed 10 billion Taiwan dollars, and the losses of 2022 may be the worst in ten years.
The previous panel double tigers have successively released a more positive outlook. As the price has reached a low point and the inventory situation has turned healthy, there have been some urgent orders at the end of last year. It is expected that after the off-season of the first quarter of the industry, the demand for replenishment of inventory can be seen in the second quarter, and the second half of the year is expected to meet the peak season.