BOE's FY2024 Net Profit Expected to be 5.2 Billion to 5.5 Billion Yuan, Innovation-Driven Performance Significantly Improved

    On January 20, BOE Technology Group Co., Ltd (BOE A: 000725; BOE B: 200725) released its 2024 annual results forecast, expecting to achieve net profit attributable to shareholders of listed companies of RMB 5.2 billion to RMB 5.5 billion for the whole year, an increase of 104% to 116% over the same period of the previous year, with a significant improvement in operating results. Relying on sound business strategies and industry-leading technological advantages, BOE has continued to build new business growth poles under its “Screen of Things” strategy and actively constructed the “Nth curve” of industrial development, with various business highlights and innovations emerging, laying the foundation for innovative and high-quality development in 2025. This has laid a good foundation for innovative and high-quality development in 2025.


    In 2024, the international environment will be complicated and volatile, the domestic economy will be generally favorable, and the industry will show a pattern of “weak growth and rebalancing”. In the face of many internal and external challenges, BOE continued to maintain its leading position in the semiconductor display field and doubled its year-on-year growth in operating results. according to Omdia data, BOE continued to be the world's No. 1 in terms of overall display shipments and shipments of LCDs for five mainstream applications. In terms of patents, BOE has accumulated more than 100,000 independent patent applications, of which more than 30,000 are related to flexible OLEDs. Among the annual new patent applications, more than 90% are invention patents and more than 33% are overseas patents. The 2024 annual statistical report released by IFI Claims, a global authoritative patent service organization, shows that BOE is ranked the 12th in the world in the U.S. patent license list, and among the global TOP20 for the seventh consecutive year, and has not only become one of the only two mainland Chinese enterprises in the TOP20, but also the only Chinese enterprise in the field of semiconductor display. In the field of LCD display, BOE has been ranked No. 1 in the world in terms of TV display shipments for six consecutive years (Omdia data), and its high-end LCD technology ADS Pro with independent intellectual property rights is not only the mainstream LCD technology with the highest shipment volume in the world at present, but also the hard-screen LCD technology with the widest application, covering all types of products, from cell phones, tablet PCs, notebooks, monitors to TVs, and has become the most widely-used hard-screen LCD technology in the world. ADS Pro is not only the world's highest shipment volume mainstream LCD technology, but also the most widely used hard-screen LCD technology, covering all product types from mobile phones, tablet PCs, notebooks, monitors and TVs, and has become the first choice of high-end models for the world's major first-tier terminal brands. In the field of flexible display, BOE will ship about 140 million tablets in 2024, with year-on-year growth, significant optimization of product structure, and significant increase in the proportion of high-end. Among them, BOE launched the world's first tri-fold screen, and the overall shipment of folded products increased by about 40%; Tandem dual-layer tandem smartphone terminal solution is solely for flagship models of many brands, and has realized mass production and shipment. At the same time, BOE has also actively laid out innovative medium-sized applications such as automotive, IT, etc. The first 8.6th generation AMOLED production line invested in China took only 183 days from the commencement of construction to topping out, setting a new benchmark in the industry with scientific, efficient and high-quality speed, and pushing the OLED display industry to rapidly move into the medium-sized stage of development.

    While continuously plowing into the display industry, BOE's “1+4+N+Eco-chain” development structure has seen a surge of innovative achievements in other business segments. Among them, IoT innovation business has made great progress in two major fields, namely smart terminals and system solutions. Smart terminal business has grown significantly, maintaining the world's first shipment volume in whiteboard, splicing, electronic price label (ESL) and other market segments (Dixi Data, etc.); in the field of system solutions, BOE has already provided smart financial services for 4,100 bank outlets in 31 provinces and municipal areas in China. In the sensing business, BOE (BOE) has accelerated the empowerment of Chery Automobile with its light curtain technology and MEMS sensing and other technologies, and has doubled its year-on-year revenue growth in the field of smart windows, and has exceeded the mass production and delivery of the dimming window of the first standard model of Extreme Krypton. In the MLED business, BOE completed the commissioning of Huacan Zhuhai MLED project, marking the company's further in-depth layout in the MLED field and laying a solid foundation for the expansion of the global MLED market. In terms of intelligent medical and industrial business, BOE continued to promote the intelligent upgrade of medical and healthcare services. The main structure of its Beijing BOE Hospital was officially opened, and the Chengdu BOE Intelligent Medical and Nutritional Community was officially put into operation, which has become an important milestone in BOE's layout of intelligent medical and nutritional field.

    Under the guidance of the “N” curve theory, BOE has created a new curve of business growth in a number of segments such as smart car, smart energy, digital art, AI+, chalcogenide, and ultra-high-definition. In the field of in-vehicle, BOE continues to be the world's No. 1 in terms of in-vehicle display shipments and shipment area (data source: Omdia); in the field of intelligent energy, BOE (BOE) Energy's New Third Board listing has been accepted smoothly; in the field of digital art, Yiyun Technology has built digital art centers in many places across the country, such as Suzhou, Beijing, and Yibin; and in the field of AI+, in 2024 BOE (BOE) has officially announced “AI+”, which means that the company will be able to create a new business growth curve in a number of niche areas. In the field of AI+, BOE officially released the “AI+” strategy, focusing on the three core areas of AI+manufacturing, AI+products, and AI+operations, and actively promoting the innovative application and empowerment of AI in manufacturing, product innovation, and business management; in the field of chalcocite, BOE has successfully produced the industry's first 2.4×1.2m pilot line samples in just 38 days. 1.2m pilot line samples, marking an important step in the industrialization of chalcogenide; in the field of ultra-high-definition (UHD), BOE (BOE) Zoomlion UHD has successfully built a series of benchmark projects such as Liangmahe Platinum Palace Gate and MGM MACAU Digital Art Museum.

    Standing at the new starting point of 2025, BOE will adhere to the development path of “marketization, internationalization and specialization”, continue to consolidate the leading position of semiconductor display business while promoting the blossoming of various businesses, and at the same time, through the “Green+”, “Innovation+”, “Innovation+”, “Innovation+”, “Innovation+”, “Innovation+”, “Innovation+”, “Innovation+”, “Innovation+” and “Innovation+”. At the same time, through the sustainable development concepts of “Green+”, “Innovation+”, and “Community+”, we will realize sound operation and high-quality sustainable development through “Technology+Green”, and contribute more to the better life of human beings. We will contribute more wisdom and strength to the better life of human beings!