BOE(SZ:000725)2023-04-03 16:00Financial 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].