Due to the difference in the proportion disclosed in the supply of display equipment at the opening ceremony of the Beijing Winter Olympic Games, A-share "display Duo" BOE and Leyard Optoelectronic Co.Ltd(300296) had a "data fight", which made the two head companies that had never regarded each other as competitors and rarely had a "confrontation in the air".
In recent years, both Beijing and East have been at the top of the track. The former is called "panel Mao", and the market share of flexible display continues to rank first in China and second in the world. With the rise of the panel industry from cycle to growth expectation, BOE's performance also soared. Compared with the scale net profit of 2 billion yuan in 2019, it suddenly soared to more than 20 billion yuan in the first three quarters of last year.
Leyard Optoelectronic Co.Ltd(300296) is the leader of A-share LED display. In recent years, it has participated in the supply chain system of many major events such as the centennial of the founding of the party, the National Day celebration, the opening and closing ceremonies of the military games and the 2008 Beijing Olympic Games. It is the main supplier of LED display screens for major events. It has won the "single champion product of manufacturing industry" by the Ministry of industry and information technology of the people's Republic of China, and has occupied the first position in the global LED display market for five consecutive years. After the "burden shedding" operation of compressing traditional businesses such as cultural tourism lighting and withdrawing goodwill, the LED production capacity doubled last year, and the revenue scale of more than 5.8 billion yuan in the first three quarters also achieved a year-on-year growth rate of more than 30%.
The "data fight" of "show two heroes" focuses on the supply proportion of ground screens with an area of more than 10000 square meters at the opening ceremony of the recent Beijing Winter Olympic Games. BOE told the media that "the 8K UHD ground display system with an area of more than 10000 square meters at the opening ceremony of the Beijing Winter Olympic Games was provided by BOE", while Leyard Optoelectronic Co.Ltd(300296) made it clear that the supply ratio between the company and BOE was "73". What is the truth?
dispute over "two male" data
"This morning, the reporter called Boe Technology Group Co.Ltd(000725) as an investor. The staff responded that the 8K UHD ground display system with an area of more than 10000 square meters at the opening ceremony of the Beijing Winter Olympic Games was provided by BOE." This is the news broke by the media on February 8.
On February 4, the high-profile winter ice and snow sports event officially opened. A brand-new visual feast integrating digital technology and aesthetic innovation, with a sense of science and technology, three-dimensional, dynamic, aestheticism and experience, made China's latest scientific and technological innovation amazing and present in front of the world. Before and after the aforementioned news release, the market was still interested in the technology "filled" at the opening ceremony of the Winter Olympic Games. One of the concerns fell on the opening ceremony stage composed of ground screen, ice cube, ice waterfall and North-South stand screen. This stage was all made of LED display, especially the ground screen of the opening ceremony, which became the largest LED screen in the world. The suppliers behind it have always been the focus of the capital market.
"Seeing such publicity, I feel confused and angry. Whether in my wechat group chat or in my circle of friends, everyone is talking about BOE supplying the ground screen of the Winter Olympic Games. Haven't we done anything?" Liu Haiyi, the general director of the Winter Olympics project of Leyard Optoelectronic Co.Ltd(300296) group, told the securities times, "in fact, it is clearly Leyard Optoelectronic Co.Ltd(300296) that has contracted 70% of the supply screen. How can it become a 10000 square meter ground screen, which has been provided by BOE? Is this suspected of unfair competition?"
Liu Haizhi told reporters in detail the screen area and specific participation in the Winter Olympics. According to his introduction, the opening ceremony stage is all made of LED display, with a total area of about 14500 square meters, Leyard Optoelectronic Co.Ltd(300296) provides an LED screen with a total area of about 10000 square meters, accounting for about 70% of the total display area.
Leyard Optoelectronic Co.Ltd(300296) also specially produced the legend of on-site screen supplier. Among them, the ground screen of the opening ceremony, as the largest LED screen in the world, covers an area of about 11500 square meters and Leyard Optoelectronic Co.Ltd(300296) provides more than 7000 square meters (the yellow part in the center of the ground screen in the figure). More than 1200 square meters of ice waterfall, more than 700 square meters of ice cube and about 1000 square meters of live broadcast screens on the north and south sides of the bird's nest are also provided by Leyard Optoelectronic Co.Ltd(300296) (dark yellow part in the figure below).
In this legend, Leyard Optoelectronic Co.Ltd(300296) refers to BOE as a "friend business", and it is clear that BOE only provides about 4500 square meters (gray semi arc parts on both sides of the figure below).
In addition to the screen in the figure above, Li Jun said that Leyard Optoelectronic Co.Ltd(300296) also provided a display broadcast control system for the whole performance at the Winter Olympic Games. The actual video resolution of the ground led stage is 14880x7248, up to 4 8K resolutions (the physical resolution can be doubled), which perfectly presents the naked eye 3D effect.
According to Leyard Optoelectronic Co.Ltd(300296) , among the stage props of the opening ceremony, the contract contractor of bingwuhuan is Liangchen and the contract contractor of snowflake torch platform is BOE.
BOE recognized the statement of "making a torch platform". According to the company, in order to realize the creative concept that the director group's torch platform should shine like a diamond, BOE's core R & D team has developed a single pixel controllable special-shaped display product with the narrowest luminous surface in the industry through more than 500 design drawings and nearly 10 rounds of sample preparation, which fully presents the line feeling of snowflakes and exquisite picture display effect, Turn the artistic creativity of the director group into reality.
Specifically, the huge snowflake screen lit by the torch radiates from the center to the surrounding, shining a wave like bright light layer by layer. Behind the fast changing and perfect synchronous display screen, the Boe Technology Group Co.Ltd(000725) IOT technology system and the self-developed synchronous / asynchronous compatible messaging system are adopted. The asynchronous centralized control can quickly distribute large-scale video content in a very short time, Synchronous centralized control ensures that 102 double-sided screens achieve millisecond response; In addition, the high redundancy control system of main circuit + loop backup ensures the reliability of the broadcast control system of the flare station.
why data friction?
Although they are in the same display industry and the leaders of their respective sub circuits, BOE and Leyard Optoelectronic Co.Ltd(300296) do not have a direct competitive relationship. On the contrary, the two sides will occasionally cooperate before.
Some industry insiders told reporters that BOE and Leyard Optoelectronic Co.Ltd(300296) had cooperation in different modes such as "general contracting subcontracting" in some previous major international events. Moreover, there will be a certain scale of procurement relationship between the two companies for each other's products.
For a long time, BOE, as a joint-stock enterprise actually controlled by Beijing SASAC and Leyard Optoelectronic Co.Ltd(300296) as a private listed "white horse company", one is located in the southeast of Beijing and the other in the northwest. Both companies are moving steadily on their own tracks.
From the perspective of the company itself, BOE plays a special role in the development history of China's LCD display industry. Previously, BOE led China's LCD display industry to realize the process from scratch, from existence to large, and from large to strong. At present, one display screen of every four smart terminals in the world comes from BOE. According to the data of omdia, a global market research organization, BOE ranked among the top in the world in terms of liquid crystal display volume in five application fields such as smart phones, tablets, laptops, monitors and TVs in the first half of 2021.
On this basis, the global market share of LCD mainstream applications has been further improved. In addition, according to the data from Qunzhi consulting, the market share of BOE flexible display continues to rank first in China and second in the world.
Leyard Optoelectronic Co.Ltd(300296) is an excellent white horse in the eyes of financial institutions and capital markets. In recent years, it has been deeply cultivated and steadily developed in LED track. Li Jun, chairman of the board of directors, also holds social posts such as vice chairman of Beijing Federation of industry and Commerce and President of Beijing Centergate Technologies (Holding) Co.Ltd(000931) listed company association, and is regarded as a well-known "spokesperson" in the circle of private enterprises. In 2018, he once waved the banner and shouted for the private economy and was known as the "chairman of the A-share" company. In recent years, Leyard Optoelectronic Co.Ltd(300296) has gradually entered a three-year climbing period by compressing traditional businesses such as cultural tourism and lighting, withdrawing goodwill impairment in batches, continuously expanding LED production capacity and deep drilling in high-end market technologies such as micro. The net profit exceeded RMB 6.5 billion in the first three quarters of 2022, with a year-on-year increase of more than RMB 6.5 billion and a year-on-year increase of 5.8% respectively.
LCD and led belong to different sub circuits. Why do they have different expressions at the Winter Olympics?
One of the reasons is closely related to the market trust and brand premium value brought by large-scale events.
The aforementioned industry insiders told reporters that the world's largest ground screen with more than 10000 square meters is very eye-catching in itself. After all, the larger the screen, the higher the technical threshold. "From the perspective of industrial law, any product does not rule out a certain proportion of failure rate. The larger the screen, the more conspicuous the failure will be. For a 10000 square meter ground screen, if you want to avoid any technical problems, it depends on hard core technology."
Therefore, it is estimated that large-scale events can often become the best mirror to reflect the company's hard core strength. For example, the whole project cycle of the opening ceremony of the Beijing Winter Olympic Games spans the summer and rainy seasons in Beijing and the winter and snow seasons from December to February of the next year. In order to ensure the smooth holding of the opening ceremony, the design team needs to research and develop waterproof, anti-skid, anti glare High load high-performance LED display module to adapt to extreme environments such as outdoor low temperature and freezing. At the same time, considering the safety, the design of structural components is mainly made of metal materials, some parts are made of plastic materials with flame retardant grade, and the devices are distributed to ensure uniform heat dissipation and avoid the risk of heat accumulation.
Liu Haiyi agreed with this view. "For large-scale international events such as the Winter Olympics, the brand value is much higher than the economic benefits." Liu Haiyi pointed out that Leyard Optoelectronic Co.Ltd(300296) plays an important and key role in the supply of screen products at the opening ceremony of the Winter Olympic Games, including preliminary scheme design, assistance, testing and other links. Like the company's previous display equipment support for major activities of the party and the state, the company hopes that the Beijing Winter Olympics can also become a benchmark project of Leyard Optoelectronic Co.Ltd(300296) . Liu Haiyi speculated that in terms of screen supply ratio, BOE released relevant information without verification by the management, causing harm to Leyard Optoelectronic Co.Ltd(300296) and other brands.
Li Jun also told reporters that both the Winter Olympics publicity and the letter phi of listed companies have high requirements for preciseness. For industry participants, both LCD line and LED line also need Chinese manufacturers to work together to maintain the benign development of the market.
As the implementation unit of technical support for the opening and closing ceremonies of the 2022 Winter Olympic Games and the winter Paralympic Games in Beijing, the relevant person in charge of China Aerospace said that the data fight of "showing the two heroes" was only a small spray in the process of the successful holding of the Winter Olympic Games. On the one hand, both companies have made important contributions to the Winter Olympics; On the other hand, preciseness and pragmatism have always been important principles followed by all preparations and participants for the Winter Olympics. "Previously, China Aerospace decided to learn from the experience supporting the successful holding of the Beijing 2008 Olympic Games, relying on its strong Aerospace Hi-Tech Holding Group Co.Ltd(000901) strength and the implementation ability of system engineering, Aerospace Hi-Tech Holding Group Co.Ltd(000901) The group has set up a special management and technical team for the Winter Olympics. According to the green, shared, open and honest concept of hosting the Olympics and the simple, safe and wonderful requirements of hosting the games, the group has spared no effort to ensure the completion of all projects of the Winter Olympics project with quality and quantity with the idea and concept of aerospace system engineering. "
