BOE(SZ:000725) Zheng Quan Shi Bao Wang·2025-09-16 12:14Core Viewpoint - BOE reported strong financial performance for the first half of 2025, with revenue exceeding 101.27 billion RMB and a net profit of 3.25 billion RMB, reflecting year-on-year growth of 8.45% and 42.15% respectively [1] Group 1: Financial Performance - In the first half of 2025, BOE achieved revenue of 101.27 billion RMB and a net profit of 3.25 billion RMB, marking year-on-year increases of 8.45% and 42.15% [1] - The company emphasized that the LCD industry has entered a weak cycle of development, with a positive outlook for the next three years due to factors such as the exit of old capacity and increasing average TV sizes [1] Group 2: Product Performance - BOE maintained its position as the global leader in the shipment of five major LCD applications, with significant growth in LCD oxide, 75-inch and larger products, and automotive displays [1] - The OLED segment saw shipments exceed 71 million units in the first half of 2025, growing by 7.5% year-on-year, outperforming the industry growth rate of over 4% [1] Group 3: Innovation and Strategic Focus - BOE is focusing on innovative business areas such as perovskite technology and glass-based packaging substrates, with stable efficiency achieved in pilot lines and a breakthrough in power generation efficiency exceeding 18% [2] - The company is transitioning from large-scale capacity construction to high-quality operational development, with a focus on technology enhancement and efficiency improvement [2] Group 4: Shareholder Returns - 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 RMB for share buybacks [3] - In the first half of 2025, BOE completed a profit distribution of 1.87 billion RMB and repurchased approximately 700 million RMB worth of shares [3]