Open 正道经营 以人为本 共赢生态 京东方 (BOE)2025 年可持续发展报告 1 关于本报告 时间范围 2025 年 1 月 1 日至 2025 年 12 月 31 日，部分内容超出上述时间范围。 发布周期 自 2010 年起，京东方科技集团股份有限公司已连续十六年向社会发布《可持续发 展报告》，发布周期为每年一期，上期报告于 2025 年 4 月发布。 涉及范畴 本报告涉及的内容与京东方的业务覆盖区域一致，包括京东方及其下辖公司的可 持续发展理念、战略和具体实践，以及在报告期内的企业运营状况。除特别说明外， 本报告范围与年度报告范围保持一致。 数据说明 本报告所引用的数据为截至 2025 年 12 月 31 日的最终统计数据。财务数据如与 2025 年年度报告有出入，以年度报告为准。 编制依据 本报告遵循《深圳证券交易所上市公司自律监管指引第 17 号——可持续发展报告 （试行）》，参照《深圳证券交易所上市公司自律监管指南第 3 号——可持续发 展报告编制（2026 年修订）》、全球可持续发展标准委员会（GSSB）发布的《GRI 可持续发展报告标准》（GRI Standards）进行编制，同时亦参考 ...

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2026年3月30 日召开第十一届董事会第十二次会议，审议通过了《关于变更公司注册资 本及修订<公司章程>及其附件的议案》。 公司于2026年1月注销回购的 A 股股份369,552,400股，公司总股本由 37,413,880,464股减少至37,044,328,064股，公司注册资本由37,413,880,464 元减少至37,044,328,064元。同时，为深入贯彻落实新修订的《公司法》， 公司根据法律法规和规范性文件的要求并结合实际情况对《公司章程》部 分内容进行修订，具体内容详见与本公告同日披露的《公司章程》修订对 照表。 本次变更事项尚需公司2025年度股东会审议通过，届时公司将及时办 理工商变更登记、备案等相关手续。 特此公告。 京东方科技集团股份有限公司 董 事 会 2026 年 3 月 31 日 京东方科技集团股份有限公司 关于变更注册资本及修订《公司章程》的公告 | 证券代码：000725 | 证券简称：京东方 | A | 公告编号：2026- ...

Core Viewpoint - The OLED industry is transitioning from "technological maturity" to "scale expansion," with a focus on large-size displays as a core development direction [2]. Group 1: Industry Trends - The industry is experiencing accelerated application penetration, diverse technological routes, and deep structural adjustments [2]. - Major domestic panel manufacturers like BOE, Visionox, and TCL are investing billions in building 8.6-generation and above high-generation lines, shifting the focus from smartphones to mid-size displays such as laptops and tablets [2]. Group 2: Upcoming Event - TrendForce will hold the 2026 DTS OLED Industry Summit Forum on April 23 in Shenzhen, featuring key representatives from the OLED supply chain and discussions on significant topics such as large-generation OLED evolution, FMM localization, IJP OLED technology development, breakthroughs in domestic OLED materials, and VIP AMOLED technology solutions [2][4]. Group 3: Event Agenda - The forum will include sessions on the strategic transition of AMOLED into the IT field, the evolution and strategic opportunities of large-generation OLED, challenges in FMM localization, advancements in IJP OLED technology, breakthroughs in domestic OLED red light materials, and future display solutions under ViP processing [5][6].

Core Viewpoint - The article discusses the significant price increase of Chinese smartphones, which is not merely a result of greed or cost transfer, but rather a complex interplay of technology, brand narrative, user segmentation, global compliance, and geopolitical competition [61][64]. Group 1: Price Increase Trends - Major Chinese smartphone brands like vivo, Xiaomi, and OPPO are raising prices across all segments, with flagship models starting at 4399 yuan for vivo and 4499 yuan for Xiaomi [6][8]. - The price increase is described as a silent revolution, moving from high-end models to all price ranges, reflecting a shift in the market dynamics [5][8]. - Consumers express frustration over rising prices while simultaneously opting for installment plans, indicating a disconnect between income growth and smartphone pricing [10]. Group 2: Memory Chip Price Surge - The surge in memory prices is attributed to the dominance of Korean companies like SK Hynix, which have shifted their production focus to higher-margin products, leading to a supply crunch for standard DRAM and LPDDR [12][22]. - The BOM (Bill of Materials) cost for flagship smartphones is projected to increase from 18% in 2024 to 25% in 2026 due to rising memory costs [22]. - The competitive landscape has changed, with smartphone manufacturers losing bargaining power as suppliers tighten their pricing strategies [25]. Group 3: Display Technology Independence - Chinese display manufacturers like BOE are achieving technological parity with Samsung, marking a shift in the supply chain dynamics and reducing reliance on a single supplier [27][32]. - The introduction of advanced display technologies by domestic manufacturers allows smartphone brands to differentiate their products without being constrained by Samsung's supply terms [32]. - Although the cost of domestic displays is currently higher by 8%-12%, manufacturers are willing to pay for the security and independence it provides [32]. Group 4: Chipset Pricing and Self-Development - Qualcomm continues to increase prices for its chipsets, which has led to a growing concern among Chinese smartphone manufacturers about their dependency on a single supplier [38][39]. - The trend of self-developed chips is gaining momentum, with companies like Xiaomi and OPPO aiming to cover a significant portion of their flagship models with in-house solutions by 2026 [41][43]. - The strategy of gradually replacing high-cost components with self-developed alternatives is seen as a way to mitigate risks associated with reliance on external suppliers [44]. Group 5: Consumer Behavior and Market Dynamics - The average smartphone replacement cycle in China has extended from 24 months in 2019 to 30-36 months by 2026, prompting manufacturers to adjust their pricing strategies accordingly [49]. - Brands are leveraging AI capabilities to redefine the value proposition of smartphones, encouraging consumers to pay for "intelligence" rather than just hardware [50][66]. - The willingness of consumers to pay a premium for AI features indicates a shift in market expectations and the perceived value of smartphones [71]. Group 6: Future Implications - The ongoing price increases and shifts in technology are part of a broader social experiment regarding value perception in the smartphone market [73]. - The outcome of this experiment will determine which brands can sustain their presence in the market, particularly in the context of rising competition from domestic chip manufacturers and changing consumer preferences [74][75].

Core Viewpoint - The joint venture between Okura Industrial and Beijing BOE Materials Technology aims to enhance optical film manufacturing for large display screens, strengthening Okura's overseas market presence and leveraging BOE's sales network [2][4]. Group 1: Joint Venture Details - A joint venture will be established in Hefei, Anhui Province, focusing on the production and sales of optical films for large display screens [2]. - The registered capital of the joint venture is 600 million yuan, with Okura Industrial contributing 34% and BOE Materials contributing 66% [2]. Group 2: Strategic Goals - Okura Industrial aims to increase the overseas revenue share to 30% by 2030 [4]. - The company views China as a crucial market, given that Chinese manufacturers hold a significant share of the global polarizer market [4]. - To enhance information collection, Okura plans to establish a permanent office in Shanghai by 2025 [4].

Core Viewpoint - The global display industry is shifting its competitive focus from downstream capacity expansion to the upstream core materials and underlying technology, driven by the need for localization and supply chain security [2] Group 1: Joint Ventures and Investments - BOE and Okura Industrial have established a joint venture in Hefei, China, with a registered capital of 600 million RMB, where BOE holds a 66% stake [3][4] - The joint venture aims to manufacture and sell optical films for displays, capitalizing on the growing global display market [5] - Okura Industrial has seen significant profit growth in its new materials division due to increased orders for optical films used in large LCD TVs [5] Group 2: Expansion of Production Capacity - Flykey Materials has signed a project in Chizhou with a total investment of approximately 1 billion RMB, planning to build production lines for various organic synthesis materials [6] - The Chizhou project is expected to have an annual production capacity of around 40,000 tons and generate an annual output value exceeding 1.8 billion RMB once fully operational [6] - Flykey Materials is transitioning from a focus on display materials to a diversified semiconductor materials platform, enhancing its product matrix and vertical integration [6] Group 3: Industry Outlook - The localization of upstream materials and the stability of the supply chain are crucial for competitive advantage in the display industry [7] - The establishment of joint ventures and the acceleration of production capacity expansion are expected to promote the development of the domestic display materials industry chain [7][8]

Core Viewpoint - Since 2025, the technological wave centered around generative AI and spatial computing is reshaping various industries with unprecedented depth and breadth, particularly in display technology [2]. Group 1: Event Overview - TrendForce will hold the 2026 New Display Industry Seminar in Shenzhen on April 22-23, 2023, featuring a special OLED industry summit [2]. - Key representatives from the OLED industry, including BOE, TCL Huaxing, Visionox, and others, will participate, with eight in-depth thematic presentations covering various aspects of the OLED industry [2]. Group 2: Agenda Highlights - The agenda includes discussions on the evolution of large-generation OLED industries, domestic FMM (Fine Metal Mask) challenges, IJP (Inkjet Printing) OLED technology advancements, breakthroughs in domestic OLED materials, and VIP AMOLED technology solutions [4]. - Specific sessions will address strategic opportunities in large-generation OLED, the challenges of domestic FMM, and the balance between picture quality and power consumption in AMOLED technology [4][5].

Core Viewpoint - Beijing BOE Materials Technology Co., Ltd. has increased its registered capital from 500 million RMB to 520 million RMB, indicating a positive development for the company [2][3]. Group 1: Company Developments - The registered capital increase of 20 million RMB reflects the company's growth and potential for further investments [3]. - BOE Materials has made a new investment in Tongcheng Oriental (Shanghai) Display Technology Co., Ltd., acquiring a 20% stake with a subscribed capital of 20 million RMB [3]. - The company is involved in various sectors, including new material technology research and sales of chemical products and electronic materials [4]. Group 2: Research and Development Initiatives - The Yantai BOE Materials Research Institute is a significant step for the company in advancing next-generation material technologies, serving as a key laboratory for semiconductor display material innovation [5]. - The research institute will focus on creating an automated materials R&D and industrialization system, enhancing efficiency and precision in material development [4][5]. - The facility will cover an area of 33,000 square meters with a total construction area of 55,000 square meters, integrating R&D, testing, and administrative functions [4].

京东方科技集团股份有限公司 2026 年面向专业投资者公开 2 （以下无正文） 1 （本页无正文，为《京东方科技集团股份有限公司 2026 年面向专业 投资者公开发行科技创新公司债券（第二期）在深圳证券交易所上市 的公告》之盖章页） 发行人：京东方科技集团股份有限公司 年 月 日 发行科技创新公司债券（第二期） 在深圳证券交易所上市的公告 根据深圳证券交易所债券上市的有关规定，京东方科技集团股份有限公司 2026 年面向专业投资者公开发行科技创新公司债券（第二期）符合深圳证券交 易所债券上市条件，将于 2026 年 3 月 24 日起在深圳证券交易所上市，并面向专 业投资者中的机构投资者交易，交易方式包括匹配成交、点击成交、询价成交、 竞买成交和协商成交。债券相关要素如下： | 债券名称 | 京东方科技集团股份有限公司 年面向专业投资者公开发行科技创 2026 | | --- | --- | | | 新公司债券（第二期） | | 债券简称 | 26BOEK2 | | 债券代码 | 524715.SZ | | 信用评级 | 主体 AAA、债项无 | | 评级机构 | 联合资信评估股份有限公司 | | 发行总额（ ...

| 证券代码：000725 | 证券简称：京东方 | A | 公告编号：2026-009 | | --- | --- | --- | --- | | 证券代码：200725 | 证券简称：京东方 | B | 公告编号：2026-009 | 京东方科技集团股份有限公司 2026 年面向专业投资者公开发行科技创新公司债券 （第二期）发行结果公告 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 2026 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》，京东方科技集团股份有限公司 2026 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），发行价格为每张 100 元， 采取网下面向专业机构投资者询价配售的方式。 本期债券发行时间自 2026 年 3 月 18 日至 2026 年 ...