京东方A：未来资本开支整体呈下降趋势

Core Viewpoint - BOE Technology Group announced a downward trend in overall capital expenditures in the future, with 2025 expected to be the peak year due to significant investments in the Chengdu 8.6-generation OLED production line project [1] Capital Expenditure Summary - 2025 is projected to be the peak year for capital expenditures, primarily driven by the Chengdu 8.6-generation OLED production line project [1] - In 2026, there will still be some expenditures mainly for subsequent equipment procurement [1] - Starting from 2027, capital expenditures are expected to decline significantly as mass production is completed and there are no new production line investment plans [1] Future Spending Areas - Future expenditures will mainly consist of maintenance costs and investments in innovative fields such as perovskite and glass-based packaging substrates [1] - The funding requirements for these innovative areas are expected to be significantly lower than those for panel production line construction [1]