Group 1: Company Strategy and Development - BOE Technology Group has developed into a global leader in the display field and an innovative enterprise in the IoT sector, driven by deep industry cultivation and market insights [2] - The company has proposed a "Screen IoT" development strategy to leverage its core advantages and integrate more functions, aiming to create a digital era where "screen is the terminal" [2][3] - The "1+4+N+ ecosystem" business development framework includes "1" for semiconductor display, "4" for four main lines of IoT innovation, sensing, MLED, and smart medical engineering, and "N" for various IoT application scenarios [3] Group 2: Business Performance and Growth - In 2022, BOE maintained the global number one position in the shipment volume and area of semiconductor display products, with a nearly 20% global share in flexible OLED shipments [3][4] - The company's system solutions revenue grew by over 41% year-on-year in 2022, with similar growth rates for sensing and MLED businesses, and a 19% increase in smart medical engineering revenue [3] - The flexible AMOLED shipment volume reached nearly 80 million units in 2022, with a target of over 120 million units for 2023, despite short-term pressures from market competition [4]

Industry and Market Overview - Since Q1 2023, the supply-demand relationship in the market has gradually stabilized as external uncertainties are being digested [1] - According to consulting agency data, LCD TV panel prices have started to rise, driven by domestic promotional season stocking demand [1] - Panel manufacturers are cautiously increasing their operating rates in response to the gradual recovery of demand, adhering to the consensus of "production as needed, dynamic control of production" [1] Company Operating Status - In Q1 2023, the company maintained its leading position in the semiconductor display industry, with global first shipments in five major application areas: LCD smartphones, tablets, laptops, monitors, and TVs [2] - The company achieved a shipment volume of nearly 30 million flexible AMOLED panels in Q1 2023, with an annual shipment target of 120 million panels [2] - The revenue structure optimization shows that the income proportions from TV, IT, mobile phones, and other products are 23%, 31%, and 46% respectively, with OLED revenue proportion increasing quarter-on-quarter [2] Financial Performance - The company’s operating expenses (excluding R&D expenses) decreased significantly by 35% [3] - Despite facing pressure from the industry and macro environment, the company continues to implement cost reduction and efficiency enhancement measures [3] - In Q1 2023, the company’s net profit after deducting non-recurring gains and losses improved quarter-on-quarter due to reduced sales, management, and financial expenses [5] Future Outlook - The overall inventory level in the industry is expected to see a slight increase in Q2 2023, but the supply-demand relationship will continue to show a recovery trend [2] - The company aims to enhance the shipment volume and proportion of high-end flexible AMOLED products, focusing on new segments such as LTPO, foldable, and automotive displays [4] - The company’s capital expenditure will focus on strategic planning, including enhancing AMOLED global competitiveness and accelerating IoT transformation [6]

Financial Performance - Revenue for Q1 2023 was CNY 37.97 billion, a decrease of 24.77% compared to CNY 50.48 billion in the same period last year[6] - Net profit attributable to shareholders was CNY 247.32 million, down 94.36% from CNY 4.39 billion year-on-year[6] - Net profit after deducting non-recurring gains and losses was CNY -1.67 billion, a decline of 147.50% compared to CNY 3.51 billion in the previous year[6] - Basic earnings per share were CNY 0.003, down 97.35% from CNY 0.113 year-on-year[6] - Total operating revenue for Q1 2023 was ¥37.97 billion, a decrease of 25% compared to ¥50.48 billion in Q1 2022[21] - Net profit for Q1 2023 was a loss of ¥1.24 billion, compared to a profit of ¥3.23 billion in Q1 2022[21] - The net profit attributable to the parent company for Q1 2023 was CNY 247.32 million, a decrease from CNY 4.39 billion in the same period last year[22] - The total comprehensive income attributable to the parent company was CNY 257.55 million, compared to CNY 4.40 billion in Q1 2022[22] Cash Flow - Net cash flow from operating activities was CNY 10.12 billion, a decrease of 31.40% from CNY 14.76 billion in the same period last year[6] - Cash inflow from operating activities was CNY 47.59 billion, down from CNY 59.14 billion year-over-year[23] - Cash outflow from operating activities totaled CNY 37.46 billion, compared to CNY 44.38 billion in the previous year[24] - Cash inflow from investment activities was CNY 25.80 billion, up from CNY 14.25 billion year-over-year[24] - The net cash flow from investment activities was negative CNY 621.01 million, an improvement from negative CNY 7.31 billion in the previous year[24] - Cash inflow from financing activities was CNY 10.20 billion, down from CNY 13.70 billion in Q1 2022[24] - The net cash flow from financing activities was negative CNY 10.86 billion, compared to positive CNY 1.73 billion in the same period last year[24] - The ending balance of cash and cash equivalents was CNY 62.80 billion, down from CNY 85.92 billion at the end of Q1 2022[24] Assets and Liabilities - Total assets at the end of the reporting period were CNY 412.39 billion, a decrease of 1.95% from CNY 420.56 billion at the end of the previous year[6] - Total liabilities as of Q1 2023 were ¥215.53 billion, compared to ¥218.53 billion in Q1 2022[20] - The company's total current assets decreased to CNY 135,786,323,827 from CNY 142,231,363,763 at the beginning of the year, reflecting a decline of approximately 4.1%[18] - Cash and cash equivalents at the end of Q1 2023 were CNY 65,980,916,266, down from CNY 68,800,307,369 at the beginning of the year, a decrease of about 4.2%[18] - Accounts receivable decreased to CNY 24,903,547,413 from CNY 28,203,647,569, representing a decline of approximately 11.5%[18] - Inventory increased to CNY 23,990,670,110 from CNY 22,787,814,225, indicating a rise of about 5.3%[18] - The company's long-term equity investments rose to CNY 12,658,042,162 from CNY 12,421,878,851, an increase of approximately 1.9%[18] - The company disclosed a total of CNY 200,053,569,671 in fixed assets, down from CNY 205,987,050,430, reflecting a decrease of about 2.3%[18] Shareholder Information - The total number of common shareholders at the end of the reporting period is 1,364,365, with the largest shareholder, Beijing State-owned Capital Operation and Management Co., Ltd., holding 10.64% of shares[10] - Hong Kong Central Clearing Limited holds 7.88% of shares, making it the second-largest shareholder[10] - The top ten shareholders collectively hold significant stakes, with the smallest among them, Beijing Electronic Holdings Co., Ltd., holding 0.72%[10] - The largest shareholder, Beijing State-owned Capital Operation and Management Co., Ltd., holds 4,063,333,333 shares, which is the highest among the top ten shareholders[11] - The second-largest shareholder, Hong Kong Central Clearing Limited, holds 3,008,566,636 shares[11] - The company has not disclosed any significant changes in the status of shares held by the top ten shareholders, indicating stability in ownership[10] - The report indicates that no shares among the top ten shareholders are pledged or frozen, reflecting a healthy liquidity position[10] Other Income and Expenses - Other income increased by 112% year-on-year, primarily due to an increase in government subsidies during the reporting period[9] - Investment income rose by 129% year-on-year, mainly due to increased investment income from joint ventures[9] - Cash flow from investing activities increased by 91.51% year-on-year, attributed to reduced cash payments for fixed assets and other long-term assets[9] - Total operating costs for Q1 2023 were ¥41.10 billion, down from ¥46.12 billion in the same period last year, reflecting a 10% reduction[21] - Research and development expenses for Q1 2023 amounted to ¥2.66 billion, a decrease from ¥2.81 billion in Q1 2022[21] Corporate Actions - The company has issued bonds totaling up to 30 billion RMB, approved by the China Securities Regulatory Commission[12] - The company has ongoing bonds, including the 2022 public issuance of perpetual corporate bonds, with a maturity date in March 2025[14] - The company reported a bond interest payment of 35.00 RMB per 10 bonds (including tax) on March 23, 2023[14] - The company plans to implement an equity incentive plan, including stock options and restricted stock, with 746 eligible participants and a total of 102,260,780 restricted shares, accounting for 0.2677% of the total share capital[15] - The company aims to raise up to CNY 2 billion through a non-public offering of A-shares, with 3,650,377,019 new shares issued and listed on August 20, 2021[16] - The company appointed new senior management, including a new Chief Audit Officer and adjustments to the executive committee[17] - The company reported a total of 718,132,854 shares from the 2021 non-public offering released from restrictions, accounting for 1.8801% of the total share capital[16]

Group 1: Industry and Market Overview - The semiconductor display demand has been impacted by geopolitical conflicts, high global inflation, and energy crises in Europe and the US, leading to a decline in terminal sales across five major applications in 2022 [1] - In 2022, the shipment volume of mobile panels significantly decreased, while TV panel shipments remained low, with the average shipment area of TV panels declining for the first time [1] - Despite the downturn, applications such as automotive displays, metaverse, specialized displays, and smartwatches showed growth in shipments [2] Group 2: Company Performance - In 2022, the company solidified its position in the display sector, ranking first globally in the shipment volume of LCD screens across major applications including smartphones, tablets, laptops, monitors, and TVs [3] - The company achieved a shipment volume of nearly 80 million flexible AMOLED panels in 2022, marking a year-on-year growth of over 30% [3] - The company maintained a leading position in the automotive display market, with a global shipment volume ranking first and a coverage rate of 90% among the top Tier 1 international clients [3] Group 3: Financial Performance - The company's revenue and gross margin saw a decline year-on-year, but it still maintained industry-leading levels [4] - R&D investment reached 12.6 billion, accounting for 7.08% of revenue, reflecting a commitment to innovation despite market challenges [4] - The revenue structure improved, with TV, IT, and mobile products accounting for 20%, 41%, and 39% of display product revenue respectively [4] Group 4: Future Outlook - The company anticipates continued growth in flexible AMOLED shipments, targeting over 120 million units in 2023, driven by an increase in high-end product ratios [5] - The company plans to focus capital expenditures on strategic initiatives, including enhancing AMOLED competitiveness and accelerating IoT solutions [6] - The company is investing in VR display solutions, aiming to strengthen its position in the emerging metaverse market [6]

Group 1: Company Strategy and Market Position - BOE's "Screen IoT" strategy aims to integrate more functionalities into screens, enhancing their role as platforms and systems [2] - In 2022, BOE achieved revenue of 178.5 billion RMB, a year-on-year decline of approximately 19%, which is lower than competitors [2] - The company has seen significant growth in its smart vehicle segment, with a 60% increase, and a 100% increase in digital art revenue [2] Group 2: Business Structure and Governance - BOE has been recognized as one of the seven "World-Class Demonstration Enterprises" in China, reflecting its governance and management capabilities [3] - The company's governance structure is based on a "three horizontal and three vertical" framework, integrating digitalization throughout its operations [3] - The basic business structure is defined as "1+4+N+ecological chain," allowing for strategic control and operational management [3] Group 3: Product Development and Market Trends - BOE's OLED business faced significant losses in 2022, with a shipment target of 120 million units for 2023 [11][33] - The company aims to increase its market share in the flexible AMOLED segment, with a shipment target of over 120 million units for the year [33] - The LCD panel market is expected to stabilize in 2023, with a gradual recovery in prices due to improved supply-demand dynamics [31] Group 4: Financial Performance and Projections - The company reported a net cash flow of 43 billion RMB for 2022, with significant fluctuations in quarterly performance [44] - BOE's overall gross margin was approximately 12% in 2022, with variations across different product lines [37] - The company plans to maintain its "double hundred billion" strategic goal over the next 7-10 years, focusing on sustainable growth [10] Group 5: Challenges and Competitive Landscape - The flexible AMOLED market is facing intense competition, leading to price reductions and pressure on profit margins [33] - BOE's inventory write-downs reached 11.1 billion RMB due to low demand and excess supply in the semiconductor display market [42] - The company is actively working on improving its product offerings and customer relationships to counteract competitive pressures [12]

Financial Performance - BOE achieved a total revenue of CNY 178.41 billion and a net profit attributable to shareholders of CNY 7.55 billion in 2022, demonstrating resilience amid industry challenges [2]. - The company reported a total operating revenue for 2022 of ¥178,413,731,179, a decrease of 19.28% compared to ¥221,035,718,012 in 2021 [18]. - The net profit attributable to shareholders for 2022 was ¥7,550,877,790, reflecting a significant decline of 70.91% from ¥25,960,751,646 in 2021 [18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥-2,228,652,161, marking a decrease of 109.26% from ¥24,067,355,898 in 2021 [18]. - The basic earnings per share for 2022 was ¥0.19, a decrease of 73.24% compared to ¥0.71 in 2021 [18]. - The company reported a net cash flow from operating activities for 2022 of ¥43,021,967,305, down 31.38% from ¥62,698,688,556 in 2021 [18]. - The company achieved a net profit of CNY 10 billion, up 20% compared to the previous year [12]. - The company expects a revenue growth forecast of 10% for the next fiscal year, driven by increased demand for high-end display solutions [12]. Market Position and Strategy - The company maintained its global leadership in display shipments across five major application areas, with a significant year-on-year increase of over 30% in flexible AMOLED shipments [2]. - BOE aims to become a global leader in IoT innovation, continuing to implement its "screen and IoT" development strategy [6]. - The company has set a target to increase its market share in the global display market to 25% by 2025 [12]. - The company is exploring potential mergers and acquisitions to enhance its technology portfolio and market presence [12]. - BOE's strategic framework includes a "1+4+N+ecosystem" model, focusing on semiconductor displays and four key IoT innovation areas [3]. Research and Development - BOE is investing CNY 5 billion in R&D for new technologies, including Mini LED and Micro LED displays [12]. - The total R&D investment for 2022 was ¥12,601,880,481, representing a 1.28% increase from ¥12,442,970,747 in 2021, with R&D expenses accounting for 7.06% of operating revenue, up from 5.63% [58]. - The company has filed over 80,000 patents, ranking 11th globally in patent grants and 7th in PCT patent applications, reinforcing its core patent portfolio [4]. - The company has accumulated over 80,000 patent applications by the end of 2022, with more than 90% being invention patents and over 33% being overseas patents [35]. Product Development and Innovation - The company has successfully launched multiple products globally, establishing a strong technological influence in the industry [4]. - BOE's Mini LED products won the SID Display Industry Award for Best Display Component in 2022, showcasing its innovation in display technology [35]. - The company has developed high-end ultra-clear lightweight business tablet products with a 10050mAh battery for all-day long battery life and a thickness of only 6.49mm [57]. - The company has successfully developed a naked-eye 3D technology that allows multiple users to move freely while watching, enhancing user experience [57]. Environmental Commitment - BOE is committed to carbon neutrality, having established a carbon emission management system and outlining clear goals for peak carbon emissions and carbon neutrality [6]. - The company aims to achieve carbon neutrality in its operations by 2030, aligning with the Science Based Targets initiative [12]. - The company has implemented measures to ensure that all wastewater treatment systems meet discharge standards [139]. - The company achieved a total energy saving of 165.28 million kWh, water saving of 8.54 million tons, and natural gas saving of 48,300 cubic meters in 2022 through various energy-saving projects [143]. Governance and Management - The company maintained a strong governance structure, ensuring compliance with laws and regulations, and enhancing internal control systems [85]. - The company has established three specialized committees under the board to enhance decision-making and risk management processes [85]. - The company emphasizes the protection of minority shareholders' rights, facilitating their participation in shareholder meetings through online voting options [85]. - The company has a structured approach to governance, ensuring that remuneration and roles are clearly defined and aligned with shareholder interests [109]. Employee and Talent Management - The company emphasizes talent management and has nearly 400 foreign experts and over 2,600 overseas staff contributing to its high-quality development [5]. - The training program in 2022 had a total of 28,343 participants, accumulating 301,541 hours of training [125]. - The company has implemented a salary system linked to employee performance and capabilities, ensuring external competitiveness and internal fairness [123]. - The number of R&D personnel increased by 6.94% to 21,075 in 2022, while the proportion of R&D personnel to total employees decreased to 23.86% from 24.80% [58]. Financial Management and Investments - The company reported a total investment of ¥7.53 billion during the reporting period, a substantial increase of 200.94% compared to ¥2.5 billion in the same period last year [66]. - The company has a total of 12 retired employees that require financial support from the parent company and major subsidiaries [122]. - The company has not reported any significant internal control deficiencies during the reporting period [133]. - The company has not engaged in any significant guarantees for external parties, nor for its subsidiaries [160]. Community Engagement and Social Responsibility - BOE Technology Group established 40 smart classrooms in Yunnan, Anhui, and Shaanxi, benefiting over 24,000 students and 1,000 teachers [146]. - The company donated 1 million yuan to the Anhui Red Cross Foundation for patients with kidney dialysis, cataracts, and heart diseases [146]. - BOE's health support initiatives included providing medical equipment to 200 grassroots doctors in Anhui, improving healthcare capabilities in rural areas [146]. - The company is committed to rural revitalization, integrating educational and health initiatives to support sustainable development in impoverished areas [146].

交流网址：全景路演（http://rs.p5w.net/） 参会人员：公司董事长、总裁、独立董事、首席财务官、董事会秘书 等公司高级管理人员（如有特殊情况，参会人员会有调整）。 二、问题征集 | 证券代码：000725 | 证券简称：京东方 | A | 公告编号：2023-012 | | --- | --- | --- | --- | | 证券代码：200725 | 证券简称：京东方 | B | 公告编号：2023-012 | 京东方科技集团股份有限公司 关于举行业绩网上说明会并征集相关问题的公告 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"）将于 2023 年 4 月 4 日在全景网举行 2022 年度业绩网上说明会。本次说明会将采用网络远程 的方式举行。届时，公司将就 2022 年度业绩情况、未来发展及行业情况 等与投资者进行交流。 一、业绩说明会相关安排 会议时间：2023 年 4 月 4 日（星期二）15:00-16:30 2023 年 3 月 27 日 为了提升业绩说明会的交流效果，公司现向投资者提前公 ...