| 证券代码：000725 | 证券简称：京东方 | A | 公告编号：2024-023 | | --- | --- | --- | --- | | 证券代码：200725 | 证券简称：京东方 | B | 公告编号：2024-023 | 京东方科技集团股份有限公司 2023 年度股东大会决议公告 2、本次股东大会未涉及变更前次股东大会决议。 一、会议召开和出席情况 1、时间： （1）现场会议开始时间：2024 年 4 月 26 日 10:00 （2）网络投票时间： 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 通过深圳证券交易所交易系统进行网络投票的具体时间为：2024 年 4 月 26 日的交易时间，即 9:15-9:25，9:30-11:30 和 13:00-15:00。 特别提示： 通过深圳证券交易所互联网投票系统投票的具体时间为：2024 年 4 月 26 日 9:15 至 15:00 中的任意时间。 1、本次股东大会未出现否决议案的情形。 参加网络投票表决的股东 239 人，代表股份 5,110,486,446 股，占公 司有效表决权股份总数的 ...

| 证券代码：000725 | 证券简称：京东方 | A | 公告编号：2024-025 | | --- | --- | --- | --- | | 证券代码：200725 | 证券简称：京东方 | B | 公告编号：2024-025 | 京东方科技集团股份有限公司 关于回购注销限制性股票减少注册资本 暨通知债权人的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、 完整，没有虚假记载、误导性陈述或重大遗漏。 京东方科技集团股份有限公司（以下简称"公司"）于2024年3月 29日召开第十届董事会第二十八次会议和第十届监事会第九次会议， 并于2024年4月26日召开了2023年度股东大会，审议通过了《关于回购 注销部分限制性股票的议案》。具体内容详见公司2024年4月2日刊登 于巨潮资讯网的《关于回购注销部分限制性股票的公告》（公告编号： 2024-016）。 公司部分激励对象因个人原因离职、身故、退休、个人业绩考核 条件未达标原因，根据《京东方科技集团股份有限公司 2020 年股票 期权与限制性股票激励计划（草案）》以及《2020 年股票期权与限制 性股票管理办法》，公司董事会决定回购注销17名激励对 ...

京东方科技集团股份有限公司 董事会议事规则 （2024 年 4 月 26 日经公司 2023 年度股东大会审议通过） 第一章 总 则 第一条 为规范和完善京东方科技集团股份有限公司（以下简称"公司"、 "本公司"）的公司治理，保证公司经营管理工作的顺利进行，根据《中华人民 共和国公司法》（以下简称"《公司法》"）、《中华人民共和国证券法》、《上市公司 治理准则》、《深圳证券交易所股票上市规则》（以下简称"《上市规则》"）、《深圳 证券交易所上市公司自律监管指引第 1 号——主板上市公司规范运作》（以下简 称"《监管指引第 1 号—规范运作》"）和《京东方科技集团股份有限公司章程》 （以下简称"《公司章程》"）的有关规定，并结合公司的实际情况，制定本规则。 第二条 董事会是公司经营管理的决策机构，维护公司和全体股东的利益， 负责公司发展目标和重大经营活动的决策。 第三条 本规则是董事会及董事会议事的行为准则，除非有主体限制，其内 容适用于公司全体董事及其他董事会参加人（包括但不限于董事会秘书）。 第四条 制定本规则的目的是规范公司董事会工作程序，提高董事会工作 效率和科学决策的水平。 第五条 董事会原则上每年度 ...

Group 1 - BOE (京东方) has commenced the second phase of its smart terminal project in Vietnam with a total investment of 2.02 billion RMB, focusing on the production of TVs, displays, and electronic paper [1] - The Smart GOAL strategy was unveiled, emphasizing technological innovation, global service, smart manufacturing, supply chain integration, and green low-carbon initiatives [1] - The project aims to produce 3 million TVs, 7 million displays, and 40 million electronic papers annually, with mass production expected by 2025 [1] Group 2 - The project is strategically located in the Ho Chi Minh industrial zone and is expected to enhance BOE's global industrial layout and service optimization [1] - It will create approximately 4,000 jobs and promote the development of local upstream and downstream industries in Vietnam [1] - BOE's smart terminal business has achieved over 10 million unit sales in various applications, including TVs and displays, and has adopted a new ODM model for tablets and laptops [1] Group 3 - BOE's Q1 2024 profit forecast indicates a net profit of 800 million to 1 billion RMB, representing a year-on-year increase of 223% to 304% [3][4] - The expected net profit after deducting non-recurring gains and losses is between 460 million and 660 million RMB, compared to a loss of 1.67 billion RMB in the same period last year [4] - Basic earnings per share are projected to be approximately 0.021 to 0.026 RMB, up from 0.003 RMB per share in the previous year [4]

【总投资20.2亿元 京东方越南智慧终端二期项目正式开工】财联社4月18日电，BOE（京东方）越南智 慧终端二期项目开工仪式在越南巴蒂头顿省富美市举行。作为京东方首个海外自主投建的智慧工厂，越 南二期项目总投资20.2亿元人民币，主要生产电视、显示器及电子纸等产品。京东方越南智慧终端二期 项目地处胡志明工业圈，将建设年产300万台电视、700万台显示器及4000万电子纸等智慧终端的智能工 厂，预计2025年量产。 ...

Investment Rating - The report maintains a "Buy" rating for the company [7]. Core Views - The company's profitability is improving quarter by quarter, solidifying its leading position in the industry [7]. - The company reported a revenue of 174.54 billion yuan for 2023, a year-on-year decrease of 2.17%, and a net profit attributable to shareholders of 2.55 billion yuan, down 66.22% year-on-year [7]. - The company forecasts a net profit of 0.8 to 1.0 billion yuan for Q1 2024, with a non-recurring net profit of 0.46 to 0.66 billion yuan [7]. Summary by Sections Financial Performance - The company achieved a total revenue of 174.54 billion yuan in 2023, with a year-on-year decline of 2.17% [8]. - The net profit attributable to shareholders was 2.55 billion yuan, reflecting a significant year-on-year decrease of 66.22% [8]. - In Q4 2023, the company reported a revenue of 48.03 billion yuan, a year-on-year increase of 5.17%, and a net profit of 1.53 billion yuan, down 32.22% year-on-year [7]. Business Structure and Growth - The company continues to develop its "1+4+N" business structure, with display devices generating approximately 1470.53 billion yuan in revenue [7]. - The company maintains the largest global market share in LCD applications and has significantly increased its flexible OLED product shipments [7]. - The IoT innovation business generated 38.9 billion yuan in revenue, with smart terminal profits increasing by 105% year-on-year [7]. Market Position and Competitive Landscape - The company remains the global leader in LCD shipments and has optimized its product structure to focus on high-end flagship products [7]. - The exit and restructuring of Korean and Japanese panel manufacturers present integration opportunities for the company [7]. - The company has a flexible OLED market share of 16.4%, ranking second globally and first domestically [7]. Profit Forecast Adjustments - The profit forecasts for 2024 and 2025 have been adjusted to 4.55 billion yuan and 7.69 billion yuan, respectively, with a new forecast for 2026 at 9.66 billion yuan [7]. - The price-to-earnings ratios for 2024 to 2026 are projected at 35, 21, and 16 times, respectively [7].

Investment Rating - The investment rating for the company is "Buy-A" [2] Core Views - The company maintains its leading position in the semiconductor display sector and continues to drive its transformation into the Internet of Things (IoT) [1] - The company's net profit for Q1 2024 is expected to be between 800 million to 1 billion yuan, representing a year-on-year growth of 223% to 304% [1] - In 2023, the company achieved a total revenue of 174.543 billion yuan, with quarterly revenue showing a consistent upward trend [1] - The company remains the global leader in LCD shipments across major application areas, with significant advancements in high-end flagship products and OLED technology [1][4] - The supply-demand dynamics in the industry are improving, with a slowdown in LCD capacity expansion and an anticipated recovery in demand for 2024 [2][4] Summary by Sections Financial Performance - The company reported quarterly revenues of 37.973 billion, 42.204 billion, 46.337 billion, and 48.028 billion yuan for Q1 to Q4 in 2023, with net profits of 247 million, 488 million, 286 million, and 1.525 billion yuan respectively [1] - Revenue projections for 2024 to 2026 are adjusted to 199.887 billion, 213.440 billion, and 234.421 billion yuan, with growth rates of 14.5%, 6.8%, and 9.8% respectively [4] - The net profit forecast for 2024 to 2026 is set at 4.142 billion, 8.131 billion, and 11.955 billion yuan, with growth rates of 62.6%, 96.3%, and 47.0% respectively [4] Market Dynamics - The LCD production line expansion is nearing its end, leading to a more optimized supply structure, with Chinese manufacturers increasing their market share to 70% in 2023 [2] - The overall demand in 2023 was weak, but a recovery is expected in 2024, particularly in the TV panel market, driven by major sporting events [2][4] - The IT panel market is anticipated to rebound as PC hardware upgrades stimulate replacement demand [4] Strategic Initiatives - The company is actively pursuing IoT transformation, achieving significant market penetration in various sectors, including smart finance and digital healthcare [1] - The launch of new high-end products and strategic partnerships in key industries is expected to enhance the company's market position [1][4]

证券研究报告 | 2024年04月11日 京东方 A（000725.SZ） 买入 盈利能力逐季改善，LCD 行业开启稳定盈利新阶段 核心观点 公司研究·财报点评 4Q23营收同环比增长，盈利能力逐季度改善。公司发布2023年年报，2023 电子·光学光电子 年营收1745.43亿元（YoY-2.2%），归母净利润25.47亿元（YoY-66.3%）。 证券分析师：胡剑 证券分析师：胡慧 4Q23营收480.28亿元（YoY +5.2%，QoQ +3.6%），归母净利润15.25亿元 021-60893306 021-60871321 hujian1@guosen.com.cn huhui2@guosen.com.cn （YoY -32.5%，QoQ +432.7%）。2023年在供给端按需生产背景下，LCD TV S0980521080001 S0980521080002 面板价格温和波动，公司盈利能力逐步改善，自3Q22公司毛利率持续环比 证券分析师：周靖翔 证券分析师：叶子 改善，4Q23毛利率16.2%（YoY +10.3pct，QoQ +1.4pct）。 021-60375402 0755-81982 ...

证券研究报告 ＃＃iinndduussttrryyIIdd＃＃ 显示器件 ＃investSuggestion＃ ＃ ＃d京yCo东mpa方ny＃ A （ 000725 ） investSug 增持 ( 维ges持tionC）h 000725 面板价格持续上＃ 涨title＃ ，看好后市需求 ange＃ ＃createTime1＃ 2024 年04 月10 日 投资要点 ＃市场ma数rk据etData＃ ＃summary＃  事件：公司发布2023年年报，2023年全年实现营业收入1745.43亿元，同 市场数据日期 2024-04-09 比下降2.17%；归母净利润25.47亿元，同比下降66.26%；扣非归母净利润 收盘价（元） 4.33 -6.33亿元，同比减亏15.96亿；发布利润分配预案，拟每10股派发红利0.3 总股本（百万股） 37652.53 元（含税），股利支付率达到44%较上年有所提高。第四季度营业收入480.28 流通股本（百万股） 37453.57 亿元，同比增长5.17%，环比增长3.65%；归母净利润15.25亿元，同比下降 净资产（百万元） 129428.31 32.50%，环比 ...

Financial Performance - The estimated net profit attributable to shareholders for Q1 2024 is projected to be between 800 million and 1 billion CNY, representing a year-on-year growth of 223% to 304% compared to 247.32 million CNY in the same period last year[3]. - The net profit after deducting non-recurring gains and losses is expected to be between 460 million and 660 million CNY, a significant improvement from a loss of 1.66793 billion CNY in the previous year[3]. - Basic earnings per share are anticipated to be approximately 0.021 to 0.026 CNY, compared to 0.003 CNY per share in the same period last year[3]. - Detailed financial data for Q1 2024 will be disclosed in the quarterly report, urging investors to pay attention to investment risks[6]. Industry Trends - The semiconductor display industry is experiencing a recovery in Q1 2024 due to favorable supply conditions and early release of downstream demand, despite being in a traditional off-season[4]. - In the LCD segment, the demand has been boosted by preparations for sports events and rising price expectations, leading to an early release of customer orders[5]. Product Performance - The company achieved a record high shipment of flexible AMOLED products in 2023, with Q1 2024 shipments continuing to grow year-on-year, and a target of 160 million units for the full year, representing over 30% growth[5]. Strategic Focus - The company aims to focus on "core business and high-quality development" in 2024, enhancing operational efficiency and technology levels under the "Screen IoT" strategy[5]. - The company plans to improve profitability of mature production lines as shipment volumes increase and high-end products gain traction, despite facing significant depreciation pressure in the AMOLED business[5]. - The company emphasizes a "demand-driven production" strategy, with production rates improving significantly in March following order releases[5].