In response to US tariffs and China’s “trade-in” policy, end-market players accelerated their purchases, leading to growth in LCD TV panel shipments and shipment area in the first half of 2025 compared to the same period in 2024. However, after a demand surge in the first quarter of 2025, demand began to cool in the second quarter, prompting end-market players to adjust inventories and panel manufacturers to follow suit by adjusting capacity utilization rates, resulting in price corrections for LCD TV panels.