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京东方A:行业内厂商持续践行“按需生产”的经营策略
证券日报网讯 京东方A9月30日发布公告,在公司回答调研者提问时表示,行业内厂商持续践行"按需生 产"的经营策略,根据市场需求变化,灵活调整产线稼动率。根据咨询机构数据及分析,一季度,得益 于出口需求高涨和"以旧换新"政策刺激,终端需求整体旺盛,行业内企业普遍保持高稼动率,LCDTV 主流尺寸面板价格全面上涨;二季度,国际贸易环境和政策边际效应发生变化,面板采购需求有所降 温,行业内企业快速调整稼动率,应对需求变化;三季度以来,随着厂商去库存趋势结束,旺季面板备 货需求逐步恢复,行业稼动率有所恢复的同时,LCDTV部分尺寸价格经历小幅下降后,部分LCDTV面 板价格企稳;LCDIT方面,MNT、NB面板价格整体维持稳定。 (编辑 袁冠琳) ...
京东方A(000725) - 025-2025年9月29日投资者关系活动记录表
2025-09-30 01:08
Group 1: LCD Market Trends - The industry is adopting a "demand-driven production" strategy, adjusting production rates based on market demand [1] - In Q1, strong export demand and "trade-in" policies led to high demand, resulting in price increases for mainstream LCD TV panel sizes [1] - By Q2, changes in the international trade environment caused a decrease in panel procurement demand, prompting quick adjustments in production rates [1] - Since Q3, inventory destocking has ended, leading to a gradual recovery in panel stocking demand, although some LCD TV panel prices have slightly decreased [2] Group 2: Flexible AMOLED Business Progress - The company has established a competitive position in the flexible AMOLED market, covering major smartphone brands and expanding into automotive and IT applications [3] - In the first half of 2025, the company shipped over 71 million AMOLED panels, a 7.5% year-on-year increase, maintaining the top position in China and second globally [3] - Despite market competition and short-term depreciation pressures, the company's profitability needs improvement [3] Group 3: Future Industry Trends - The display industry is entering a rebalancing phase, shifting focus from scale and market share to high profitability, technology, and added value [4] - LCD technology will remain a mainstream application, with ongoing demand for larger TV sizes and high-resolution products [4] - OLED technology is also expanding, particularly in the IT and automotive sectors, with increasing LTPO shipments [4] Group 4: Depreciation Trends - All 8.5-generation production lines have completed depreciation, while several AMOLED production lines have been finalized [5] - Depreciation is expected to peak in 2025 as new projects are finalized and mature production lines depreciate [5] - The company aims to optimize product line positioning to enhance operational efficiency and profitability [5] Group 5: Future Capital Expenditure - The company is transitioning from rapid expansion to a mature phase in LCD production, focusing capital expenditures on strategic planning [6] - Future investments will center on semiconductor display business and innovative applications in IoT, sensors, MLED, and smart medical engineering [6] Group 6: Shareholder Return Plan - The company plans to distribute at least 35% of the annual net profit to shareholders in cash from 2025 to 2027 [7] - A minimum of RMB 1.5 billion will be allocated for share buybacks annually, with additional plans for mid-term profit distribution [7] - The return plan reflects a comprehensive analysis of operational conditions, industry status, and shareholder interests, aiming for sustainable growth and shared benefits [8]
京东方A:LCD TV部分尺寸价格经历小幅下降后,部分LCD TV面板价格企稳
Zheng Quan Ri Bao Wang· 2025-09-29 09:21
证券日报网讯 京东方A9月29日发布公告,在公司回答调研者提问时表示,行业内厂商持续践行"按需生 产"的经营策略,根据市场需求变化,灵活调整产线稼动率。根据咨询机构数据及分析,一季度,得益 于出口需求高涨和"以旧换新"政策刺激,终端需求整体旺盛,行业内企业普遍保持高稼动率,LCDTV 主流尺寸面板价格全面上涨;二季度,国际贸易环境和政策边际效应发生变化,面板采购需求有所降 温,行业内企业快速调整稼动率,应对需求变化;三季度以来,随着厂商去库存趋势结束,旺季面板备 货需求逐步恢复,行业稼动率有所恢复的同时,LCDTV部分尺寸价格经历小幅下降后,部分LCDTV面 板价格企稳;LCDIT方面,MNT、NB面板价格整体维持稳定。 ...
京东方:显示产业正进入再平衡时期,MiniLED及OLED在高端市场将持续快速成长
Core Viewpoint - BOE Technology Group (京东方) is adapting its production strategies in response to market demand fluctuations, with a focus on maintaining high utilization rates and optimizing its product offerings in both LCD and AMOLED segments [1][2][3][4] Group 1: LCD Market Dynamics - The LCD industry is experiencing a shift in supply and demand, with high utilization rates in Q1 due to strong export demand and government policies stimulating consumer purchases [1] - In Q2, demand for panel procurement decreased due to changes in the international trade environment, prompting companies to adjust their production rates [1] - By Q3, inventory reduction trends are expected to continue, with some stabilization in LCD TV panel prices as demand recovers [1] - The trend towards larger TV sizes and higher resolution products is enhancing the market vitality of LCDs [4] Group 2: AMOLED Business Development - BOE has established a strong presence in the flexible AMOLED market, covering major smartphone brands and expanding into automotive and IT applications [1][2] - The company announced the investment in an 8.6-generation AMOLED production line, set to begin mass production by the end of 2026, which will enhance its competitiveness in the high-end market [2] - The overall shipment of AMOLED products is expected to increase in the second half of the year due to new product launches from downstream brand manufacturers [2][3] Group 3: Technology and Industry Trends - The display industry is entering a rebalancing phase, with a focus on high profitability, advanced technology, and high added value rather than just scale and market share [3][4] - The application of Oxide technology and MiniLED backlighting is expected to enhance the performance of high-end LCD products, allowing them to maintain a significant presence in the market [3] - BOE is actively promoting supply chain localization and collaborative development within the industry to mitigate supply risks and foster innovation [4]
京东方A(000725) - 022-2025年8月8日投资者关系活动记录表
2025-08-08 09:36
Group 1: LCD Market Trends - The LCD industry is experiencing a recovery in demand, with panel prices expected to stabilize or rise again in Q3 2025 after a slight decline [1][2] - In Q1 2025, strong export demand and policies like "trade-in" stimulated overall demand, leading to high operating rates across the industry [1] - By Q2 2025, the international trade environment changed, causing a cooling in panel procurement demand, prompting companies to adjust their operating rates [1] Group 2: Flexible AMOLED Business Development - The company has established a strong capacity and technological advantage in the flexible AMOLED sector, covering major top brand clients in mobile phones and expanding into automotive and IT applications [3] - The shipment volume of flexible AMOLED is expected to increase in the second half of 2025 due to new product launches from downstream brand manufacturers [3] Group 3: IT Sector Technology Trends - LCD remains the mainstream technology in the IT sector, with Mini LED backlit LCD and OLED products expected to grow rapidly in the high-end market [4] - Flexible AMOLED products are anticipated to gain market share in high-end IT products due to their superior display quality and lightweight design [4][5] Group 4: 8.6 Generation AMOLED Production Line Progress - The company announced the investment in the 8.6 generation AMOLED production line in November 2023, aimed at producing high-end touch OLED displays for laptops and tablets [6] - The project is on track, with completion of the foundation in March 2024 and equipment installation starting in May 2025, four months ahead of schedule [6] Group 5: Future Industry Development Trends - The display industry is entering a rebalancing phase, shifting from a focus on scale and market share to high profitability, technology, and added value [7] - LCD will continue to be the mainstream application technology in the medium to long term, while OLED is expected to capture more opportunities in the high-end and mid-size markets [8]
京东方A(000725) - 021-2025年8月7日投资者关系活动记录表
2025-08-08 01:12
Group 1: LCD Market Trends - The industry is adopting a "production based on demand" strategy, adjusting production rates according to market needs [1] - In Q1, strong export demand and "old-for-new" policies led to high production rates and price increases for mainstream LCD TV panel sizes [1] - Since Q2, the international trade environment has changed, leading to a cooling of panel procurement demand and adjustments in production rates [1] - By August, with the recovery of stocking demand, some LCD TV panel prices began to stabilize, and overall industry production rates are expected to recover [2] Group 2: Flexible AMOLED Business Progress - The company has established a capacity scale and technical advantages in the flexible AMOLED field, covering major top brand customers in mobile phones [3] - The shipment volume of flexible AMOLED is expected to increase in the second half of the year due to new product launches from downstream brand manufacturers [3] Group 3: IT Sector Technology Development Trends - LCD will remain the mainstream technology choice in the IT sector, with Mini LED backlit LCD products and OLED products growing rapidly in the high-end market [4] - Flexible AMOLED products are expected to penetrate high-end IT products due to their superior display effects and lightweight design [4] - The company is investing in an 8.6 generation AMOLED production line to enhance its competitiveness in the semiconductor display industry [6] Group 4: Future Industry Development Trends - The display industry is entering a rebalancing phase, shifting from a focus on scale and market share to high profitability, technology, and added value [7] - LCD demand structure is optimizing, with a trend towards larger TV sizes and high-resolution products [8] - OLED's market share in IT and automotive sectors is expected to grow, presenting more opportunities [8] Group 5: Supply Chain Advantages - The company emphasizes supply chain construction and collaborative development, promoting localization and synergy within the industry [8] - It maintains strong relationships with suppliers and collaborates with customers and research institutions to develop leading technologies [8]
SHEIN生态赋能,中小工厂转型“技术派”的实践样本
Sou Hu Cai Jing· 2025-08-05 10:30
Core Insights - The global fashion industry is undergoing a transformation driven by digitalization, with SHEIN exemplifying the "on-demand fashion" model that shifts from "predictive production" to "demand-driven" strategies [1][3][9] Industry Challenges - The traditional fashion industry relies on a "predictive production" model, which involves long lead times of 3 to 6 months for product development, while the lifecycle of trending items can be as short as one week [3] - The complexity of the fashion supply chain, including product planning, material procurement, production, and logistics, typically requires 6 to 12 months to complete [3] SHEIN's Innovative Approach - SHEIN's "small order quick response" model allows for the production of only 100 to 200 pieces initially, enabling real-time sales data to dictate further production, thus maintaining low inventory levels [3][4] - The company employs digital upgrades and smart tools throughout the design and production processes, significantly reducing trial and error, waste, and costs while enhancing efficiency [4][6] Digital Empowerment of Suppliers - SHEIN provides suppliers with digital tools to synchronize production standards and offers extensive training to instill lean management principles, resulting in improved operational efficiency [8][9] - The transformation of traditional manufacturing practices into modern, demand-driven operations is evident in the case of suppliers like Xie Shuangtao, who transitioned from experience-based order taking to a more responsive production model [6][8] Market Response and Sustainability - SHEIN's digital ecosystem enables rapid market response and precise supply-demand matching, leading to higher sell-through rates and reduced resource waste, contributing to sustainable growth [9]
京东方A:行业内厂商持续践行“按需生产”的经营策略
Zheng Quan Ri Bao Wang· 2025-07-30 08:17
Core Viewpoint - BOE Technology Group Co., Ltd. (京东方A) announced that the industry is adopting a "demand-driven production" strategy, adjusting production line utilization rates flexibly according to market demand changes [1] Industry Summary - In the first quarter, driven by strong export demand and the "trade-in" policy, overall terminal demand was robust, leading to high utilization rates across the industry, with prices of mainstream LCD TV panel sizes rising [1] - Since the second quarter, changes in the international trade environment and policy effects have led to a cooling of panel procurement demand, prompting companies to quickly adjust their utilization rates in response to demand fluctuations [1] - As of July, manufacturers continued to reduce inventory, resulting in a slight decline in prices for certain sizes of LCD TV panels [1] - Looking ahead to August, with the gradual recovery of peak season panel stocking demand, the industry utilization rate is expected to recover, and LCD TV panel prices are likely to stabilize [1]
京东方A(000725) - 020-2025年7月29日投资者关系活动记录表
2025-07-30 00:50
Group 1: LCD Market Trends - The industry is adopting a "production on demand" strategy, adjusting production rates based on market demand fluctuations [1] - In Q1, driven by strong export demand and the "old-for-new" policy, the overall terminal demand was robust, leading to a comprehensive price increase for mainstream LCD TV panel sizes [1] - Since July, a trend of inventory reduction has continued, resulting in a slight price decrease for certain LCD TV sizes [1] Group 2: Flexible AMOLED Business Progress - The company has established a capacity scale and technological advantage in the flexible AMOLED sector, covering major top brand clients in mobile phones with a significant increase in high-end product share [3] - The flexible AMOLED shipment target for 2025 is set at 170 million units, following a projected shipment of 140 million units in 2024, reflecting continued growth despite competitive market pressures [3] Group 3: Revenue Structure for Display Devices - In 2024, the revenue structure for the company's display devices is projected to be: TV products (26%), IT products (34%), LCD mobile phones and others (13%), and OLED products (27%) [4] Group 4: OLED Technology in IT Sector - Flexible AMOLED products are expected to gain market share in high-end IT products due to their superior display quality and lightweight design [5] - The company announced an investment in an 8.6-generation AMOLED production line, aimed at producing high-end touch OLED displays for laptops and tablets, with mass production expected by the end of 2026 [6] Group 5: Future Industry Trends - The display industry is entering a rebalancing phase, shifting from a focus on scale and market share to high profitability, technology, and added value [7] - LCD technology will remain the mainstream application in the medium to long term, while OLED is expected to capture more opportunities in high-end segments and mid-size markets [7]
京东方A(000725) - 019-2025年7月24日投资者关系活动记录表
2025-07-25 00:40
Group 1: LCD Market Trends - The LCD industry is implementing a "demand-driven production" strategy, adjusting production rates based on market demand fluctuations [1] - In Q1 2025, the industry maintained high production rates due to strong export demand and "trade-in" policies, leading to a comprehensive price increase for mainstream LCD TV panel sizes [1] - By July 2025, prices for certain LCD TV sizes experienced a slight decline, while prices for MNT and NB panels remained stable [2] Group 2: Production Capacity and Utilization - The average utilization rate in the LCD industry began to recover in November 2024, remaining high in Q1 2025; however, it decreased in Q2 2025 due to a drop in demand [3] - Panel manufacturers are continuing to adjust production rates in Q3 2025 to align with demand [3] Group 3: Flexible AMOLED Business Development - The company has established a strong position in the flexible AMOLED sector, building capacity and technical advantages while accumulating a solid customer base [4] - The company is actively expanding into automotive and IT applications, aiming to capture market opportunities and meet downstream customer needs [4] Group 4: Future Industry Trends - The trend towards larger sizes in TV products is expected to continue, driving growth in area demand; IT demand is relatively stable with some high-end product trends emerging [5] - The penetration rate of flexible AMOLED products in smartphones is steadily increasing, with further growth anticipated in mid-size IT and automotive applications as technology matures [5] Group 5: MLED Business Progress - The MLED business is a key component of the company's "1+4+N+ecosystem" strategy, focusing on a full industry chain including COB, COG, SMD, and Micro LED technologies [6][7] - The launch of the Zhuhai Crystal Chip COB production line marks a significant advancement in the company's MLED manufacturing capabilities [7] - A joint venture with Shanghai Film Group aims to enhance movie screening experiences through MLED technology [7]