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Supply Chain:

After "618", the Chinese market entered a low season for sales, and due to the contraction of the procurement strategy of global brands, the demand for panel procurement of Chinese TV brands has turned conservative. However, under the pressure of high inventory, Chinese panel makers actively sold Chinese brands with goods at the end of Q2, which eventually resulted in the actual purchase of Chinese brands higher than the original plan, which may have a certain impact on the panel procurement strategies of Chinese brands in Q3. According to research data from Sigmaintell, the panel purchases of China's top 7 brands in June were 7.48 million pieces, a substantial increase of 12.5% YoY. It is expected that Chinese brands will still implement the on-demand purchasing strategy in Q3.

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：

The first half of the year has ended. The Chinese market was hit by the epidemic in the first half of the year. The real estate industry has entered a downward cyclical turning point. The economic transformation is facing huge challenges. The purchasing power of consumers is weak. The TV market demand did not bring about substantial recovery or growth due to the "618" promotion, but the brand performance was differentiated. After the "618" mid-year promotion, Hisense, TCL, MI and other leading brands continue to exert their efforts. Global shipments are expected to grow against the trend in 2022, while other brands face a loss of scale and market share. According to statistics from Sigmaintell, the TV shipments of China's top7 brands in June were 7.66 million units, an increase of 11% YoY; of which 4.95 million units were exported, an increase of 17.2% YoY, and more of the increase came from emerging markets which demand recovered such as India; Although top brands such as TCL/Hisense/MI are actively deployed in the Chinese market. Domestic sales were driven by the "6.18" promotion. Top7 brands shipped 2.71 million units, a slight increase of 1% YoY. However, due to the continued sluggish economic vitality and lack of consumer confidence, the YoY growth in shipments may not be sustainable. It is expected that the performance of the Chinese market in the second half of the year is still not optimistic.

Brand analysis:

(1) Hisense
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(2) TCL
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(3) Skyworth
......

(4) Changhong
......

(5) Haier
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(6) Konka
......

(7) Xiaomi
......

Inventory Status：
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