京东方董事长陈炎顺：行业周期性减弱，LCD技术仍将主导市场

Core Viewpoint - BOE Technology Group is shifting its capital strategy focus from scale expansion to shareholder value creation, with a commitment to cash dividends and share buybacks [1][5][6] Group 1: Financial Performance and Shareholder Returns - From 2015 to 2024, BOE has implemented cash dividends for ten consecutive years, totaling nearly 22 billion RMB [1][6] - The company has announced a shareholder return plan that includes a commitment to distribute at least 35% of net profit as cash dividends annually and to allocate no less than 1.5 billion RMB for share buybacks each year [5][7] - As of 2023, BOE has completed share buybacks worth approximately 5.6 billion RMB for A-shares and nearly 1 billion HKD for B-shares [6] Group 2: Industry Position and Technology Outlook - BOE maintains a leading position in the LCD panel market, with a market share exceeding 90% and a focus on large-size, high-resolution products [2][3] - The company predicts that LCD technology will continue to dominate the market for the next decade, despite the emergence of new display technologies [2][3] - BOE is also investing in flexible OLED technology and has established the first 8.6-generation AMOLED production line in China [3] Group 3: Strategic Initiatives and Future Growth - The company is pursuing a "1+4+N" ecosystem strategy, focusing on display technology, glass-based processing, and large-scale intelligent manufacturing capabilities [3][4] - BOE has introduced the "N Curve" theory to explore new business growth areas, including glass-based innovation and perovskite photovoltaic devices [3] - The company is actively engaging in capital operations, including acquisitions and independent listings of subsidiaries to enhance its competitive edge [7]