Group 1 - BOE Technology Group Co., Ltd. has obtained a patent titled "Driving Circuit, Display Substrate, and Display Device," with authorization announcement number CN119968666B, applied on September 2023 [1] - BOE Technology Group Co., Ltd. was established in 1993 and is located in Beijing, primarily engaged in the manufacturing of computers, communications, and other electronic devices. The registered capital is approximately 37.41 billion RMB [1] - The company has invested in 74 enterprises, participated in 298 bidding projects, and holds 5,000 patent records along with 775 trademark records and 47 administrative licenses [1] Group 2 - Beijing BOE Display Technology Co., Ltd., established in 2009, is also located in Beijing and focuses on the same manufacturing sectors. The registered capital is approximately 894.15 million RMB [1] - This subsidiary has participated in 285 bidding projects, holds 5,000 patent records, and has 440 administrative licenses [1] - Beijing BOE Technology Development Co., Ltd., established in 2016, is located in Beijing with a registered capital of 38 million RMB [2] - This subsidiary has invested in 1 enterprise, participated in 91 bidding projects, holds 3,818 patent records, and has 4 administrative licenses [2]

Group 1 - BOE Technology Group Co., Ltd. has obtained a patent titled "Display Module, Display Device, and Control Method of Display Module," with authorization announcement number CN116543683B, and the application date is May 2023 [1] - BOE Technology Group Co., Ltd. was established in 1993 and is located in Beijing, primarily engaged in the manufacturing of computers, communications, and other electronic devices. The company has a registered capital of 37,413.880464 million RMB [1] - The company has invested in 74 enterprises, participated in 298 bidding projects, and has 775 trademark records and 5,000 patent records, along with 47 administrative licenses [1] Group 2 - Chengdu BOE Optoelectronics Technology Co., Ltd. was established in 2007 and is located in Chengdu, primarily engaged in the manufacturing of instruments and meters. The company has a registered capital of 2,500 million RMB [1] - Chengdu BOE Optoelectronics Technology Co., Ltd. has participated in 915 bidding projects, holds 5,000 patent records, and has 521 administrative licenses [1]

Core Viewpoint - BOE Technology Group Co., Ltd. (京东方A) has shown a positive stock performance with a year-to-date increase of 5.46% and a market capitalization of 166.12 billion yuan as of January 9. The company is primarily engaged in the production of optoelectronic and display devices, with a significant portion of its revenue coming from display devices [1][2]. Financial Performance - For the period from January to September 2025, BOE reported a revenue of 154.55 billion yuan, reflecting a year-on-year growth of 7.53%. The net profit attributable to shareholders was 4.60 billion yuan, marking a substantial increase of 39.03% compared to the previous year [2]. - Cumulatively, since its listing, BOE has distributed a total of 22.09 billion yuan in dividends, with 5.30 billion yuan distributed over the last three years [3]. Shareholder Structure - As of September 30, 2025, the number of BOE's shareholders decreased to 1.0459 million, a reduction of 4.36%. The average number of circulating shares per shareholder increased by 4.60% to 36,118 shares [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 2.705 billion shares, an increase of 658 million shares from the previous period. Other notable shareholders include Huatai-PB CSI 300 ETF and E Fund CSI 300 ETF, with varying changes in their holdings [3]. Stock Performance - On January 9, BOE's stock price rose by 2.07% to 4.44 yuan per share, with a trading volume of 709 million yuan and a turnover rate of 0.44%. The stock has shown consistent growth over various time frames, including a 6.22% increase over the past 20 days and an 8.29% increase over the past 60 days [1]. Business Segments - BOE's main business segments include display devices (83.27% of revenue), IoT innovation (17.96%), MLED (4.29%), smart medical engineering (0.91%), and sensing business (0.22%) [1]. - The company operates within the electronic-optical optoelectronics panel industry and is involved in various concept sectors such as electronic paper, full-screen displays, and foldable screens [1].

Core Insights - BOE (京东方) showcased over 60 cutting-edge display technologies and IoT solutions at CES 2026, including the global debut of the "HERO 2.0 Smart Cockpit," highlighting its leadership in automotive displays, AI, and green low-carbon technologies [1][6][24] Group 1: Event Participation and Strategy - BOE has participated in CES for five consecutive years, significantly enhancing its industry and overseas influence, marking a crucial step in its global strategic layout [3] - During the event, BOE engaged in deep exchanges with over 40 global ecosystem partners, including top automotive companies and renowned consumer electronics firms [5] Group 2: HERO 2.0 Smart Cockpit Features - The HERO 2.0 Smart Cockpit focuses on audio-visual experience, interaction methods, and scenario applications, representing a comprehensive breakthrough in smart vehicle technology [6] - It features the world's first Micro LED PHUD with 50,000 nits brightness, ensuring clear visuals even in bright daylight, and a 15.6-inch automotive-grade UB Cell central display with local dimming technology [8] - The cockpit includes the first intelligent independent vehicle amplifier with all-scenario noise reduction and AI audio restoration, delivering Hi-Res audio and emergency communication capabilities [10] Group 3: Interaction and Application - The HERO 2.0 Smart Cockpit utilizes AI technology for multi-modal interactions, achieving a 98% recognition rate for complex commands, and features a partitioned dimming sunroof with 99% UV blockage [10] - Users can control various functions such as air conditioning and smart home devices through the central system, achieving "car-home" and "car-business" connectivity [10][12] Group 4: Display Technology Innovations - BOE presented advancements in three major display technology brands: ADS Pro, f-OLED, and α-MLED, showcasing solutions like dual-screen automotive displays and a 17-inch OLED rollable terminal [13][15][17] - The α-MLED technology demonstrated high contrast and color performance suitable for diverse applications, including conference management systems [17] Group 5: AI Integration and Product Launches - AI technology is deeply integrated into BOE's products, including the AI-integrated C100 series and the world's first 3D ultrasonic fingerprint smart car key, enhancing user interaction and security [19] - The company also launched smart pet tanks and smart fish tanks, emphasizing a blend of ecological aesthetics and intelligent technology [19] Group 6: Ecosystem Collaboration and Market Position - As a leader in the automotive display sector, BOE is committed to deepening ecosystem cooperation, with its automotive display shipments and area maintaining a global lead in 2024 [20] - BOE's solutions are widely adopted by various brands in the new energy vehicle sector, enhancing product competitiveness through customized offerings [20][22] Group 7: Commitment to Green Development - BOE emphasizes green development through low-power oxide technology and LTPO innovations, alongside green factory construction and low-carbon supply chain management [24]

声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 来源：市场资讯 国家知识产权局信息显示，京东方科技集团股份有限公司和成都京东方光电科技有限公司取得一项名 为"补偿参数调整方法、调整装置、显示装置及程序产品"的专利，授权公告号CN119252178B，申请日 期为2024年9月。 天眼查资料显示，京东方科技集团股份有限公司，成立于1993年，位于北京市，是一家以从事计算机、 通信和其他电子设备制造业为主的企业。企业注册资本3741388.0464万人民币。通过天眼查大数据分 析，京东方科技集团股份有限公司共对外投资了74家企业，参与招投标项目297次，财产线索方面有商 标信息775条，专利信息5000条，此外企业还拥有行政许可47个。 成都京东方光电科技有限公司，成立于2007年，位于成都市，是一家以从事仪器仪表制造业为主的企 业。企业注册资本2500000万人民币。通过天眼查大数据分析，成都京东方光电科技有限公司参与招投 标项目915次，专利信息5000条，此外企业还拥有行政许可521个。 ...

Group 1 - The 2026 CES in Las Vegas showcased numerous Chinese companies with leading technologies, highlighting "Chinese manufacturing" [1] - TCL participated for the 33rd time, becoming the largest Chinese brand by exhibition area, focusing on "screen universe" and "AI life" [1] - TCL aims to enhance R&D in AI applications and next-generation display technologies, exploring foundational and cutting-edge technology [1] Group 2 - Hisense, as the global official sponsor of the 2026 World Cup, presented customized products and showcased breakthroughs in AI and smart hardware [1] - Hisense unveiled its first commercial humanoid robot, Harley, which interacts with visitors and explains the advantages of its "black technology" products [1] - BOE exhibited over 60 cutting-edge display technologies and IoT solutions, including the global debut of the "HERO2.0 smart cockpit" [2] Group 3 - New Stone, a leader in unmanned delivery, introduced AI-driven next-generation logistics solutions and showcased its RoboVan product line [2] - New Stone aims to accelerate global development, targeting over 50,000 overseas deliveries of unmanned vehicles by 2027 [2] - CES is recognized as one of the largest consumer technology events globally, featuring over 4,100 exhibitors from more than 150 countries, focusing on AI, digital health, energy technology, and robotics [2]

Core Viewpoint - The article highlights the significant advancements made by BOE Technology Group at CES 2026, showcasing over 60 cutting-edge technologies and IoT solutions, including the global debut of the "HERO 2.0 Smart Cockpit," emphasizing China's leadership in global technological innovation and its commitment to high-quality development in the "technology + green" industry [1][9]. Group 1: Smart Cockpit Innovations - BOE launched the "HERO 2.0 Smart Cockpit," which integrates multiple industry-leading technologies to enhance audio-visual experiences, interaction methods, and application scenarios [2]. - The "HERO 2.0 Smart Cockpit" features a Micro LED PHUD with an ultra-high brightness of 50,000 nits, AI voice and gesture control with a 98% command recognition rate, and a 15.6-inch automotive-grade UB Cell central display [2][4]. - The cockpit includes a UB Cell smart wood-patterned table that supports seamless integration of entertainment, relaxation, and office scenarios, redefining the human-vehicle relationship [4]. Group 2: Display Technology Advancements - BOE showcased its latest achievements in three major display technology brands: ADS Pro, f-OLED, and α-MLED, contributing to an open, green, and collaborative ecosystem for the global industry [5]. - The ADS Pro display solution features a 15.6-inch dual-screen with high contrast and low reflection, while the f-OLED segment introduced the world's first all-OLED smart cockpit solution [5][6]. - The α-MLED technology includes a P0.9 ultra-thin HDR Micro LED integrated machine with a contrast ratio of 20,000:1 and a flagship product achieving a refresh rate of 7,680 Hz [6]. Group 3: AI and Sustainable Development - BOE introduced AI-enabled products such as the C100 series AI all-in-one machine and smart pet tanks, promoting the integration of ecological aesthetics and smart technology [8]. - The company displayed over 20 green products at CES 2026, marking a historical high, and engaged in deep exchanges with over 40 global ecological partners [9]. - BOE's sustainable development strategy includes the launch of the "ONE" brand, with significant reductions in power consumption and carbon emissions for its products, and recognition of its manufacturing bases as provincial green factories [10].

Core Viewpoint - The A-share market in 2025 shows a positive trend, with the Shanghai Composite Index returning to 4000 points and nearly 80% of listed companies experiencing stock price increases, supported by significant capital repurchases and increases by industry players [1][2] Group 1: Market Performance - In 2025, the total transaction volume of the A-share market reached a historic record of 420 trillion yuan [1] - A total of 1494 listed companies implemented share repurchases, with a total amount of 142.736 billion yuan [1] - 534 companies announced shareholding increases, with a maximum proposed increase amount of 83.922 billion yuan [1] Group 2: Capital Support - The trend of repurchases and increases is supported by a special loan program, with 522 companies or their shareholders disclosing repurchase and increase loan situations, amounting to a maximum of 111.165 billion yuan [1] - As of January 8, 2026, the number of disclosed repurchase and increase loans reached 789, with a total maximum loan amount of 160.62 billion yuan [1] Group 3: Leading Companies - In 2025, 293 companies repurchased over 100 million yuan, with 15 companies repurchasing over 1 billion yuan, and one company exceeding 10 billion yuan [3] - Midea Group led with a total repurchase amount of 11.545 billion yuan, being the only company to exceed 10 billion yuan in repurchases for the year [3] - Guizhou Moutai repurchased a total of 6 billion yuan in 2025, marking its first-ever cancellation-style repurchase since its listing [4] Group 4: Loan Policy Changes - The People's Bank of China optimized the stock repurchase and increase loan policy, reducing the self-funding ratio requirement from 30% to 10% and extending the maximum loan term from 1 year to 3 years [6] - The total quota for the combined tools of 500 billion yuan for securities, funds, and insurance companies and 300 billion yuan for stock repurchase and increase loans was raised to 800 billion yuan [6] Group 5: Economic Impact - The stock repurchase and increase loans provide low-cost funding for companies, facilitating effective market value management and enhancing investor confidence [7] - Recommendations for future loan programs include expanding coverage to more quality enterprises and optimizing pricing mechanisms [7]

Core Viewpoint - Dazhu Laser's subsidiary, Shenzhen Dazhu Semiconductor Equipment Technology Co., has won multiple bids for the 8.6-generation AMOLED production line project from BOE Technology Group, indicating a strong position in the OLED manufacturing equipment market [1][9]. Group 1: Project Details - Dazhu Semiconductor won the bid for four laser cutting machines for BOE's 8.6-generation AMOLED production line project on December 31, 2025 [1]. - On January 8, 2026, Dazhu Semiconductor secured another bid for one laser cutting machine for the same project [2]. - The total investment for BOE's 8.6-generation AMOLED production line project is 63 billion CNY, with the construction reaching full completion ahead of schedule [3][11]. Group 2: Technology and Equipment - The laser cutting machines are essential for high-precision cutting of glass substrates or flexible films in OLED panel manufacturing, crucial for defining screen shapes and accommodating camera openings [6][13]. - The industry widely uses ultrafast lasers, such as picosecond or femtosecond UV lasers, to minimize thermal effects and ensure clean cutting edges [6][14]. - Dazhu Semiconductor's equipment includes various types of laser devices, such as laser contour cutting machines and laser chamfering machines, which are vital for the OLED manufacturing process [6][13]. Group 3: Industry Trends - The Chinese display industry is accelerating the localization of key equipment, with domestic laser companies achieving stable operation of their equipment in mainstream panel manufacturers, thus reducing reliance on imports [7][14]. - Dazhu Laser reported a revenue of 596 million CNY in the first half of 2025 from its semiconductor equipment business, highlighting its ongoing technological upgrades and successful bids for multiple projects [9][14].

Core Insights - The CES event highlights the growing importance of display technology in consumer electronics, with a focus on the integration of AI and high-quality displays in smart cockpit solutions [2][5] - Chinese display manufacturers, particularly BOE, are emerging as leaders in the industry, with significant investments in R&D and a shift towards high-end technology rather than competing solely on price [2][5][6] Industry Trends - The market for smart cockpit displays is projected to grow to $18.3 billion by 2030, driven by consumer demand for high-quality displays in vehicles [2] - The competition among display manufacturers is intensifying, leading to price wars, but companies like BOE emphasize maintaining quality over reducing prices [6][7] Company Developments - BOE showcased its "HERO2.0 smart cockpit" at CES, featuring advanced Micro LED technology with 50,000 nits brightness and 115% NTSC color gamut, along with AI functionalities for enhanced user experience [3][5] - The company has invested over HKD 900 million in R&D for its automotive business over the past three years, indicating a strategic shift towards integrating AI and software with hardware [5][6] Strategic Focus - BOE aims to create an innovative ecosystem around high-value applications, focusing on the integration of AI and sustainable development in its product offerings [5][6] - The company is expanding its global presence, with operations in 16 countries and nearly 600 ecosystem partners, emphasizing the need for deeper integration into local markets [7]