| 证券代码：000725 | 证券简称：京东方 | A | 公告编号：2025-084 | | --- | --- | --- | --- | | 证券代码：200725 | 证券简称：京东方 | B | 公告编号：2025-084 | 京东方科技集团股份有限公司 2025 年面向专业投资者公开发行科技创新公司债券 （第二期）票面利率公告 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"发行人"）发行不超 过人民币 100 亿元公司债券已获得中国证券监督管理委员会（证监许 可〔2024〕1330 号文）批复。京东方科技集团股份有限公司 2025 年 面向专业投资者公开发行科技创新公司债券（第二期）（以下简称"本 期债券"）发行规模为不超过 10 亿元（含 10 亿元）。 2025 年 11 月 4 日，发行人和主承销商在网下向专业机构投资者 进行了票面利率询价，利率询价区间为 1.50%-2.50%。根据网下向专 业机构投资者询价结果，经簿记建档，最终确定本期债券票面利率为 1.95%。 发行人将按上述票面利率于 202 ...

Core Insights - The global OLED laptop panel market is expected to reach a shipment volume of 12.7 million units by 2025, with a market penetration rate of 6% [1] - Rigid OLED (ROLED) will dominate the market with an estimated shipment of 12.1 million units, representing a 31% year-on-year growth [1][7] - Flexible OLED (FOLED) is projected to have a shipment of approximately 600,000 units, driven by flagship models like Huawei's 18-inch foldable PC [1] Market Trends - The OLED laptop market is witnessing rapid innovation, with new products being launched, such as Lenovo's Yoga Air X AI and Huawei's MateBook Fold [2] - The introduction of high-performance OLED screens is aligned with the trends in AI PC technology and the critical product iteration cycle in the PC market [2] Product Strategy - Samsung Display (SDC) is implementing a dual product strategy targeting both mainstream lightweight laptops and high-end gaming laptops, which is expected to enhance ROLED's market presence [6] - The mainstream FHD+ specifications for 14-inch and 16-inch laptops are being introduced to cater to traditional PC brands [6] Market Capacity and Production - The upcoming G8.6 OLED production lines are set to significantly impact the laptop panel market, with four new lines expected to come online in the next two years [10][11] - The G8.6 OLED production lines will focus on both Hybrid OLED and FOLED technologies, which offer advantages in display quality and thinness compared to traditional LCDs [11][15] Future Projections - By 2026, G8.6 OLED shipments are expected to reach around 1.7 million units, primarily driven by demand from Apple’s MacBook Pro [15] - The market for Hybrid OLED is anticipated to grow significantly by 2029, as it becomes the dominant technology in the high-end to mid-range laptop segments [18] Competitive Landscape - The competition between OLED and LCD technologies is expected to intensify, leading to a rapid upgrade in specifications across the laptop market [19] - The next five years are projected to be a revolutionary period for laptop display solutions, focusing on lighter, thinner, and smarter technologies [19]

Core Viewpoint - BOE and Intel announced a collaboration to launch an AI-based energy-saving solution for laptop displays, aiming to enhance device battery life while maintaining visual quality [1] Group 1: Technology Innovations - The solution integrates several innovative technologies, including AI Multi-Frequency Display (MFD), 1Hz ultra-low refresh rate, and SmartPower HDR [1] - The technology is designed to intelligently balance energy efficiency and picture quality [1] Group 2: Market Application - The new technology is expected to be first applied in OEM laptops powered by Intel platforms in 2026 [1]

Core Viewpoint - Karen Co., Ltd. announced a significant equipment procurement contract with Chengdu BOE Display Technology Co., Ltd., valued at approximately 198.41 million RMB (19.84 million RMB) [1][3]. Group 1: Contract Details - The contract signed between Karen's subsidiary, Suzhou Jiazhi Color Display Technology Co., Ltd. (Jiazhi Color), and Chengdu BOE includes a total amount of 198.41 million RMB [1]. - This contract is part of the ongoing development of BOE's 8.6-generation AMOLED panel production line, which has a total investment of 63 billion RMB and a designed capacity of 32,000 pieces per month [3]. Group 2: Company Background - Jiazhi Color was established in November 2017 and focuses on new display technologies, silicon-based micro-displays, and semiconductor industry testing and production systems [3]. - The company has developed the first domestic OLED De-mura equipment for the 8.6-generation line, which is crucial for OLED panel production, enhancing display uniformity and quality [6]. Group 3: Market Position and Future Prospects - The signing of this contract is expected to help the company maintain steady growth in the new display panel testing field, consolidating and enhancing its market competitiveness [6]. - Jiazhi Color has already secured multiple contracts with BOE this year, covering various equipment types essential for display technology [6].

| 证券代码：000725 | 证券简称：京东方 | A | 公告编号：2025-083 | | --- | --- | --- | --- | | 证券代码：200725 | 证券简称：京东方 | B | 公告编号：2025-083 | (本页无正文,为中信建投证券股份有限公司《关于延长"京东方科技集团股份 有限公司 2025 年面向专业投资者公开发行科技创新公司债券 (第二期)" 簿记建 档时间的公告》之盖章页） 关于延长京东方科技集团股份有限公司 2025 年面向专业投资者公开发行科技创新公司债券 （第二期）簿记建档时间的公告 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"发行人"）公开发行 不超过人民币 100 亿元公司债券已获得中国证券监督管理委员会（证 监许可〔2024〕1330 号文）批复。 根据《京东方科技集团股份有限公司 2025 年面向专业投资者公 开发行科技创新公司债券（第二期）发行公告》，发行人和簿记管理 人定于 2025 年 11 月 4 日 15 点到 18 点以簿记建档的方式向网下投资 者进 ...

Summary of Key Points Core Viewpoint - On November 4th, a total of 124 companies announced 129 stock repurchase updates, indicating a significant activity in stock buybacks within the market [1] Group 1: Stock Repurchase Approvals - Two companies had their stock repurchase plans approved by shareholders' meetings, highlighting ongoing corporate strategies to enhance shareholder value [1] - Among the approved repurchase plans, one company proposed a buyback exceeding 10 million [1] Group 2: Stock Repurchase Implementation Progress - 111 companies disclosed their stock repurchase implementation progress, showcasing a robust engagement in buyback activities [1] - The companies with the highest repurchase amounts included: - GoerTek Inc. with 940 million - BOE Technology Group with 704 million - Hengrui Medicine with 535 million [1] Group 3: Completed Stock Repurchases - Eleven companies completed their stock repurchase plans, with seven companies reporting buybacks exceeding 10 million [1] - The companies with the highest completed repurchase amounts were: - Decai Co. with 69.99 million - Langjin Technology with 50.00 million - New City with 40.00 million [1]

Core Insights - The display industry is recognized as a strategic, foundational, and leading sector, with significant investments and innovations showcased at the 2025 World Display Industry Innovation Development Conference in Chengdu [1][2] - The integration of flexible AMOLED display technology with AI is transforming smart home environments, making them more interactive and responsive [1][4] - China is projected to achieve a market share of 52% in AMOLED display shipments in 2024, surpassing international competitors for the first time [1] Industry Developments - A total of 13 new projects in the new display industry, with a total investment of 15.74 billion yuan, were signed at the conference, covering various segments of the display supply chain [1] - Key breakthroughs in core equipment were highlighted, including the launch of domestically produced G8.6 OLED mass production equipment, which enhances China's capabilities in high-end display manufacturing [2] - The G8.6 OLED multi-application inkjet film deposition platform and other equipment are set to improve production efficiency and quality, supporting larger and more cost-effective OLED manufacturing [2] Innovation and AI Integration - The conference featured the release of ten innovative products and technologies that reflect the latest advancements in the new display industry, emphasizing collaborative innovation across the supply chain [3] - AI is playing a crucial role in enhancing the quality and efficiency of the display industry, with leading companies leveraging AI technologies to drive high-quality development [3][4] - Various AI applications were showcased, including smart office solutions and flexible AMOLED displays that facilitate real-time health monitoring and remote medical diagnostics [4][5] Technological Advancements - The introduction of high-refresh-rate screens and low-power technologies by companies like Visionox is essential for meeting the demands of AI-driven applications [5] - Innovations such as ultra-narrow bezels and flexible display technologies are enhancing user experiences and adapting to diverse AI scenarios [5]

Core Viewpoint - BOE anticipates that the replacement cycle and AI empowerment will drive growth in IT product demand in the coming year, while major sporting events like the World Cup are expected to boost TV product demand in the first quarter [1] Industry Outlook - The industry is expected to achieve supply-demand balance by 2027, driven by the potential exit of outdated production lines and the continued trend towards larger display sizes, which will further increase area demand [1]

| 注册金额 | 100 亿元 | | --- | --- | | 本期发行金额 | 不超进16亿元(含10亿元) | | 増信情况 | 元担保 | | 发行人主体信用等级 | AAA | | 牵头主承销商、簿记管理 人、受托管理人 | 中信建投证券股份有限公司 | | 联席主承销商 | 国联民生证券承销保荐有限公司 东兴证券股份有限公司 | | | 华泰联合证券有限责任公司 | | | 第一创业证券承销保荐有限责任公司 | 声明 主承销商已对募集说明书进行了核查，确认不存在虚假记载、误导性陈述和 重大遗漏，并对其真实性、准确性和完整性承担相应的法律责任。 发行人承诺在本期债券发行环节，不直接或者间接认购自己发行的债券。债 券发行的利率或者价格应当以询价、协议定价等方式确定，发行人不会操纵发行 定价、暗箱操作，不以代持、信托等方式谋取不正当利益或向其他相关利益主体 输送利益，不直接或通过其他利益相关方向参与认购的投资者提供财务资助、变 相返费，不出于利益交换的目的通过关联金融机构相互持有彼此发行的债券，不 实施其他违反公平竞争、破坏市场秩序等行为。 发行人如有董事、高级管理人员、持股比例超过 5%的股东及其他 ...

营建投证券股份有限公司 A SECURITIES CO.,LTD. (住所:北京市朝阳区安立路 66号4号楼) 京东方科技集团股份 RA 公司 (住所:北京市朝阳区 酉仙桥路 2025 年面向专业投资者公开发行科技创新 公司债券(第二期)发行公告 牵头主承销商/簿记管理人/债券受托管理人 联席主承销商 | 国联民生承销保存 (住所:中国(上海)自由贸易 试验区浦明路 8 号) (住所:北京市西城区金融大街 5 号(新盛大厦)12、15层) (住所:深圳市前海深港合作区 南山街道桂湾五路 128 号前海深 港基金小镇 B7 栋 401) 一创投行 (住所:北京市西城区武定侯街 6 号卓著中心 10 层) 签署日期: 2025年 = 月 3 日 01051013 乐兴证券股份有限公司 DONGXING SECUR厅IS CO.,LTD. 品 华泰联合证券 2、本次债券采取分期发行的方式，其中京东方科技集团股份有限公司 2025 年面向专业投资者公开发行科技创新公司债券（第二期）（以下简称"本期债券"） 为注册文件项下第二期发行，本期债券发行规模为不超过人民币 10 亿元（含 10 亿元）。每张面值为 100 元， ...