首页 关于我们 研究报告 观点文章 半导体 TMT 金融与服务 汽车 English

留言
报告导航:研究报告TMT产业电子半导体
2007-2008年FPC(软板)行业研究报告
字数:6.8万 页数:210 图表数:139
中文电子版:8000元 中文纸版:7500元 发布日期:2008-07
英文电子版:2800美元 英文纸版:2600美元
编号:CA053 附件:下载 购买报告

  软板行业最早在日本兴起,时间大约是2002年。日本外的软板行业自2003年开始萌芽,2005年飞速扩展,2006年则出现下滑,2007年年中软板行业落至谷底,2008年开始复苏。
 
  在2005年,软板行业门槛低,利润高,吸引一大批企业进入。进入2006年,竞争变得日益激烈,供大于求的现象非常严重,很多企业为了生存不得不将价格一降再降,甚至赔本经营。同时,软板产业的下游客户,如大型的EMS厂家,增设软板部门,不再外包软板业务,导致软板行业雪上加霜。

  2007年是软板行业风雨飘摇的一年。首先是利润大幅度下滑,软板大厂M-FLEX 2007财年的净利润只有300万美元,而2006财年净利润达4040万美元,净利润下滑了93%。香港上市的佳通科技2007财年亏损2980万美元,而其2006财年则盈利1240万美元。其次是销售额下降,台湾第一大软板厂嘉联益,2004年销售额77.9亿台币,之后连续3年下滑,2007年销售额为65.41亿台币。再次是毛利率下滑,嘉联益2004年毛利率是29%,2007年下降到12%。韩国第一大软板企业Young Poong则将软板业务从上市公司里剥离,以免投资人的脸色太难看。大厂尚且如此,小厂就直接倒闭 。

  小厂的大量倒闭给软板行业带来了机会,软板行业自2008年初开始复苏。但是软板行业又面临了新的难题,这就是经济下滑。2008年伊始,全球经济出现了下滑的势头,高涨的油价,次贷危机,粮食价格暴涨。全球经济进入下降通道,尤其是新兴国家。软板的需求下滑源于消费类电子产品。 经济处于下降通道时,首先遭受打击的就是这些非刚性需求的消费类电子产品的需求:包括手机、笔记本电脑、平板电视、液晶显示器、数码相机、DV等产品。
日本企业是个例外,它们占据技术最高端。即便是行业普遍不景气的2007年,日本软板行业无论利润和销售额或者毛利率,不仅没有下降,还有所上升。

2007年全球前13大软板企业收入统计
200807291.gif

Flexible printed circuit or FPC, industry emerged firstly in Japan, which was about the year of 2002, and began appearing in other countries in 2003. In 2005, the industry developed rapidly, but not long after it began declining in the following year. The industry fell to the bottom in 2007 and started recovering in 2008.

In 2005, FPC industry had a low market entry threshold and a high profit, which had lured a large number of companies into the market. However, in the following year, competition in the industry became increasingly fierce and oversupply also became increasingly serious, forcing many companies to cut prices for survival or even operate in red. Meanwhile, downstream clients of FPC industry, like large EMS manufacturers, built their own FPC production lines to stop outsourcing FPC business, which was another heavy blow to the FPC industry.

2007 was a turbulent year to the FPC industry. Firstly of all, the profit dropped sharply. M-FLEX, a major FPC manufacturer, only achieved a net profit of US$3 million in fiscal year 2007 in comparison with that of US$40.4 million in fiscal year 2006, down 93% year on year. Besides, Jiatong Technology (Suzhou) Co., Ltd, a company listed on Hong Kong Stock Exchange, made a total loss of US$29.8 million in fiscal year 2007, compared to a total profit of US$12.4 million in fiscal year 2006. Secondly, there was a drop in sales revenue. For instance, Career Technology (MFG) Co., Ltd., Taiwan’s largest FPC company, has had a declining in sales revenue for three years consecutively since 2004, with its sales revenue falling to NT$6.54 billion in 2007 from NT$7.79 billion posted in 2004. Thirdly, gross profit margin dropped. In 2004, the gross profit margin of Career Technology (MFG) was 29%, but it decreased to 12% in 2007. Moreover, South Korean largest FPC producer Young Poong had to split its FPC business from the listed company so as to appease investors. Other small FPC manufacturers went bankruptcy directly.

However, the closedown of a large number of small FPC companies has brought opportunities to the FPC industry. The industry began to recover from the early beginning of 2008. Unfortunately, the FPC industry is faced with another predicament of a global economic slowdown, skyrocketing oil prices, sub-prime lending crisis and grain price hikes. A decreasing demand for consumer electronics including handset, notebook, flat panel TV, LCD, digital camera and DV, is the key reason behind the fall in FPC demand.

However, the Japanese FPC producers with the state-of-the-art technology are the exceptions. Even if when the industry was in a downturn in 2007, their sales revenue and gross profit margin all rose instead of drop.

Revenue of Global Top 13 FPC Producers, 2007
200807292.gif

    如果这份报告不能满足您的要求,我们还可以为您定制报告,请留言说明您的详细需求。

2005-2008 www.pday.com.cn 版权所有