Core Viewpoint - BOE Technology Group has demonstrated strong financial performance in the first half of 2025, with significant revenue and profit growth, reflecting its resilience and high-quality development in the display industry [1][5]. Financial Performance - In the first half of 2025, BOE achieved operating revenue of 101.278 billion yuan, a year-on-year increase of 8.45% [1]. - The net profit attributable to shareholders reached 3.247 billion yuan, marking a year-on-year growth of 42.15% [1]. Industry Trends - The LCD industry is expected to maintain a stable upward trend over the next decade, driven by the exit of outdated production capacity and the increasing average size of televisions [3]. - BOE's LCD business is projected to continue providing stable cash flow, serving as a cornerstone for the company's high-quality development [3]. Product Performance - According to Omdia, BOE ranked first globally in the shipment volume of five major LCD applications in the first half of 2025 [5]. - The company also leads in the shipment of LCD oxide, products over 75 inches, and automotive displays [5]. - BOE's OLED business saw a shipment of over 71 million units, a year-on-year increase of 7.5%, outperforming the industry average and maintaining its position as the largest in China and second globally [5]. Strategic Innovations - BOE is actively pursuing strategic innovation in perovskite technology and glass-based packaging substrates, leveraging its expertise in the display sector [6]. - The perovskite photovoltaic pilot line has achieved a power generation efficiency exceeding 18%, with ongoing efforts to enhance performance [6]. - The glass-based packaging substrate pilot line commenced operations five months ahead of schedule, producing large-sized glass substrates that significantly improve integration for next-generation semiconductor packaging [6]. Capital Strategy - The company is transitioning from a phase of large-scale capacity construction to one focused on high-quality operational development [6]. - BOE expects depreciation and capital expenditures to gradually decline post-2025, allowing for a focus on technological value addition and efficiency improvement [6]. - The company aims to maintain an annual healthy operating cash flow of approximately 50 to 60 billion yuan and will optimize its capital strategy to enhance shareholder returns [6].

第一章 总 则 第一条 为明确京东方科技集团股份有限公司（以下简称"公司"）股东会 的职责权限，规范其运作程序，保证股东会依法行使职权，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》（以下简称"《证 券法》"）、《上市公司股东会规则》、《深圳证券交易所股票上市规则》（以下简称 "《股票上市规则》"）、《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》"）及《京东方科 技集团股份有限公司章程》（以下简称"《公司章程》"）的规定，制定本规则。 第二条 本规则自生效之日起，即成为规范公司股东会的组织与行为，规范 公司股东权利与义务的具有法律约束力的文件。 京东方科技集团股份有限公司 股东会议事规则 （2025 年 9 月 16 日经公司 2025 年第二次临时股东大会审议通过） 第三条 股东会由公司全体股东组成，是公司的最高权力机构。股东会应当 在《公司法》和《公司章程》规定的范围内行使职权。 公司不得通过授权的形式由董事会或其他机构和个人代为行使《公司法》规 定的股东会的法定职权。股东会授权董事会或其他机构和个 ...

| | | 第一章 总 则 第一条 为维护公司、股东、职工和债权人的合法权益，规范公司的组织和 行为，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》（以下简称《证券法》）和其他有关规定，制定本章程。 第二条 公司系依照《公司法》和其他有关规定成立的股份有限公司（以下 简称公司）。 公司由原北京电子管厂及其创业员工作为主发起人，经北京市经济体制改革 办公室以京体改办字(1992)第 22 号文批准，于 1993 年 4 月 9 日以定向募集方式 设立，后按《公司法》进行规范，1997 年 1 月 27 日，北京市人民政府办公厅京 政办函(1997)14 号文批准公司重新登记，后经国务院证券委员会和北京市人民 政府批准，公司于 1997 年 5 月 21 日公开发行人民币特种股票（"境内上市外资 股"），依法转为募集的股份有限公司；在北京市朝阳区市场监督管理局注册登 记，取得营业执照，统一社会信用代码 911100001011016602。 第三条 公司于 1997 年 5 月 19 日经国务院证券委员会证委发[1997]32 号 批准，首次向境外投资人发行的以外币认购并且在境内上 ...

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 董事会每年度至少召开两次会议，如有必要或根据国家有关法律、 法规、《公司章程》和本规则的有关规定，可召开董事会临时会议。 京东方科技集团股份有限公司 董事会议事规则 （2025 年 9 月 16 日经公司 2025 年第二次临时股东大会审议通过） 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 ...

| 证券代码：000725 | 证券简称：京东方 | A | 公告编号：2025-070 | | --- | --- | --- | --- | | 证券代码：200725 | 证券简称：京东方 | B | 公告编号：2025-070 | 京东方科技集团股份有限公司 董 事 会 2025 年 9 月 16 日 1 因 公 司 注 销 库 存 股 及 回 购 注 销 限 制 性 股 票 ， 股 份 总 数 由 37,645,016,203股减少至37,413,880,464股，注册资本由37,645,016,203元减 少至37,413,880,464元。同时，为深入贯彻落实新修订的《中华人民共和 国公司法》，推动上市公司优化公司治理机制，提高规范运作水平，公司 根据中国证监会和深圳证券交易所最新制度要求对《京东方科技集团股份 有限公司章程》（以下简称"《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》。同时公司调整了公司治理架 构，不再设置监事会和监事，由董事会风控和审计委员会行使《公司法》 规定的监事会的职权，相应废止《监事会议事规则》。 本次变更事项已经公司2025年第二次临时 ...

| 证券代码：000725 | 证券简称：京东方 | A | 公告编号：2025-069 | | --- | --- | --- | --- | | 证券代码：200725 | 证券简称：京东方 | B | 公告编号：2025-069 | 京东方科技集团股份有限公司 2025 年第二次临时股东大会决议公告 1、本次股东大会未出现否决议案的情形。 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：2025 年 9 月 16 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。 特别提示： 易所股票上市规则》及《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。 7、出席本次股东大会并投票表决的股东及股东代理人共 4,815 人， 代表股份（有效表决股数）11,032,256,031 股，占公司有效表决权股份总 数的 29.6174%。 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：2025 年 9 月 16 日的交易时间，即 9:15-9:25， ...

中国北京市朝阳区建国路 77 号华贸中心 3 号写字楼 34 层 邮政编码 100025 电话: (86-10) 5809-1000 传真: (86-10) 5809-1100 北京市竞天公诚律师事务所 为出具本法律意见书，本所律师审查了公司提供的有关本次股东大会的文件， 包括但不限于公司第十一届董事会第八次会议决议、第十一届监事会第四次会议 决议以及根据上述内容刊登的公告、关于召开本次股东大会的通知、议案和决议 等，同时听取了公司就有关事实的陈述和说明，列席了本次股东大会。公司承诺 其所提供的文件和所作的陈述和说明是完整、真实和有效的，无任何隐瞒、疏漏 之处。 在本法律意见书中，本所根据本法律意见书出具日或以前发生的事实及本所 律师对该事实的了解，仅就本次股东大会的程序事宜所涉及的相关法律问题发表 1 法律意见，保证本法律意见书不存在虚假记载、误导性陈述及重大遗漏。本所同 意公司将本法律意见书作为本次股东大会必需文件公告，并依法对所出具之法律 意见承担责任。未经本所书面同意，本法律意见书不得用于其他任何目的。 基于上述，根据中国法律法规的要求，按照律师行业公认的业务标准、道德 规范和勤勉尽责精神，本所谨出具 ...

Investment Rating - The report maintains a "Recommended" rating for the OLED industry chain related equipment stocks [5]. Core Insights - The construction of the 8.6 generation OLED production lines is accelerating, with TCL Technology announcing a joint investment of 29.5 billion RMB to build a new production line, expected to start in November 2025 and take 24 months to complete [1][8]. - The demand for OLED panels in automotive and IT applications is expected to drive significant growth, with AMOLED panel shipments projected to exceed 1.33 billion units by 2030, capturing 35% of the market share [3][21]. - The report highlights the competitive landscape, noting that major players like Samsung Display, BOE, and Visionox are also investing heavily in 8.6 generation OLED production lines, with total investments nearing 170 billion RMB [1][11]. Summary by Sections Section 1: Industry Developments - TCL, Samsung Display, BOE, and Visionox are all actively investing in 8.6 generation OLED production lines, with TCL's new line set to produce approximately 22,500 glass substrates per month [1][11]. - The report discusses the three main OLED technologies: FMM OLED, ViP OLED, and printed OLED, each with its advantages and disadvantages [2][20]. Section 2: Market Trends - The report anticipates a compound annual growth rate (CAGR) of 33% for laptops and 27% for automotive displays by 2030, indicating strong demand for OLED technology in these sectors [3][21]. - Counterpoint Research data shows that Samsung Display held a 37% market share in the global OLED panel market as of Q2 2025, with significant growth in laptop and display panel shipments [22][26]. Section 3: Investment Recommendations - The report suggests focusing on companies within the OLED supply chain, including Aolide, Linde Equipment, Dazhu Laser, and Maiwei Co., which are positioned to benefit from the growth in OLED production [4][31][35][38].

Group 1 - The core viewpoint of the news is that BOE Technology Group achieved significant growth in the first half of 2025, with revenue exceeding 100 billion yuan and a notable increase in net profit [1][3] - In the first half of 2025, BOE's revenue reached 101.278 billion yuan, representing a year-on-year growth of 8.45%, while net profit attributable to shareholders was 3.247 billion yuan, up 42.15% year-on-year [1] - BOE's chairman emphasized that the LCD industry has entered a weak cycle of development, with a stable upward trend expected over the next three years due to factors such as the exit of outdated capacity and increasing average TV sizes [1][2] Group 2 - According to Omdia, BOE maintained its position as the global leader in the shipment of five major LCD applications in the first half of 2025, with significant growth in OLED shipments as well [2] - BOE's OLED market share in the first half of 2025 exceeded 71 million units, reflecting a year-on-year growth of 7.5%, surpassing the industry growth rate of over 4% [2] - The company is focusing on innovative businesses, including perovskite technology and glass-based packaging substrates, with promising developments in both areas [2] Group 3 - BOE has transitioned from a phase of large-scale capacity construction to a focus on high-quality operational development, with expectations of reaching peak depreciation and capital expenditure in 2025 [3] - The company aims to maintain an operating cash flow of approximately 50 to 60 billion yuan annually, with plans to enhance shareholder returns through profit distribution and share buybacks [3] - BOE has announced a shareholder return plan for the next three years, committing to distribute no less than 35% of the annual net profit in cash and to allocate at least 1.5 billion yuan for share buybacks each year [3] Group 4 - The performance briefing highlighted BOE's strong confidence in its future development, commitment to the capital market, and intention to reward investors [4]

Group 1 - The core viewpoint of the article emphasizes that the LCD industry has entered a phase of weak cyclical development, with a positive outlook for the next three years due to factors such as the exit of outdated capacity and the increasing average size of televisions [1] - The company expects to maintain an operating cash flow of approximately 50 billion to 60 billion RMB annually, transitioning from a phase of large-scale capacity construction to high-quality operational development [1] - The company plans to focus on three main areas for capital strategy transformation: ensuring daily operations, enhancing profits through buybacks of minority interests, and increasing returns to investors [1] Group 2 - In the first half of 2025, the company's revenue exceeded 100 billion RMB, reaching 101.28 billion RMB, with a year-on-year growth of 8.45%, and a net profit attributable to shareholders of 3.25 billion RMB, up 42.15% year-on-year [2] - The company disclosed a shareholder return plan for the next three years, committing to distribute at least 35% of the annual net profit in cash and to allocate no less than 1.5 billion RMB for share buybacks each year [2] - As of the end of August 2025, the company had completed a profit distribution of 1.87 billion RMB for 2024 and had repurchased and canceled shares worth approximately 700 million RMB [2]