Economic UncertaintyCore businesses are facing second-half headwinds combining ultra-lean automotive OEM inventories, product delays due to tariff uncertainties, and advance purchase-related headwinds.
Market CompetitionOversupply from Chinese foundries and lukewarm consumer tech demand have intensified competition, particularly in the LCD segment.
Revenue DeclineChina panel OEMs are adopting a cautious inventory stance reflecting the tariff situation, with low second-half visibility leading us to model continued revenue sequential declines in displays.