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，未来行业趋势方面，显示产 业正进入再平衡时期，在持续调整优化。一方面，供给端正在进入存量时代，需求端库存实现加速去 化。另一方面，行业格局实现重塑，行业从过去的追求"规模和市场份额"逐渐转向追求"高盈利、高技 术、高附加值"，通过践行"按需生产"，持续迈向高质量发展。从产品趋势来看，LCD仍将是未来中长 期显示行业的主流应用技术，OLED高端细分市场也在不断突破。其中，LCD需求结构不断优化，TV大 尺寸化趋势势不可挡，高分辨率、高刷新率产品的推陈出新带来LCD旺盛的市场生命力；OLED中 LTPO出货量持续提升，OLED在IT、车载等中尺寸市场也将迎来更多机遇。 ...

Core Viewpoint - The display industry is entering a rebalancing phase, with ongoing adjustments and optimizations in supply and demand dynamics [1] Industry Trends - The supply side is transitioning into a stock era, while the demand side is experiencing accelerated inventory destocking [1] - The industry landscape is being reshaped, shifting focus from "scale and market share" to "high profitability, high technology, and high added value" [1] - The industry is moving towards high-quality development through "production on demand" [1] Product Trends - LCD technology will remain the mainstream application in the display industry in the medium to long term, while OLED is making breakthroughs in high-end segments [1] - The demand structure for LCD is continuously optimizing, with a strong trend towards larger TV sizes and innovations in high-resolution and high-refresh-rate products [1] - The market share of foldable OLED screens is steadily increasing, and OLED is expected to find more opportunities in the IT and automotive mid-size markets [1]

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]

Group 1 - The resignation of She Xiaomin, COO of Huacan Optoelectronics, was announced due to work adjustments, but he will continue to serve as a director [1][3] - Huacan Optoelectronics is a subsidiary of BOE Technology Group, specializing in LED chips and advanced semiconductor solutions, crucial for BOE's display products [4] - The company has seen a significant turnover in its executive team, with seven high-level resignations in 2024 alone, indicating a trend of short-term concentrated changes [4][5] Group 2 - The new COO, Cai Hexun, has been appointed to replace She Xiaomin, with a background in management at other technology firms [3][4] - The average age of Huacan's board and senior management is 47 years, with a median age of 44 years, indicating a relatively mature leadership team [5] - The total compensation for Huacan's board and senior management has increased from 10.18 million yuan in 2022 to 14.82 million yuan in 2024, reflecting a 45.54% increase over the three years [5] Group 3 - BOE's chairman, Chen Yanshun, emphasized the company's commitment to returning value to investors through share buybacks and profit distribution as the industry enters a new phase [6] - The display industry is undergoing a rebalancing, shifting from competition based on scale and market share to a focus on high profitability, technology, and added value [6]

Group 1 - The core point of the article is the resignation of Guo Huaping, a senior executive at BOE Technology Group, due to work changes, marking a trend of high-level resignations within the company over the past year [2][5] - Guo Huaping's resignation is effective immediately upon submission to the board, and he will no longer hold any positions within the company or its subsidiaries [2] - The company has experienced a significant turnover in its executive team, with seven high-level resignations in 2024 alone, including key positions such as vice chairman and executive vice president [5] Group 2 - The global large-size LCD TV panel shipment in May 2025 reached 19.3 million units, a year-on-year decline of 7.5%, indicating a weak demand in the TV terminal market [5][6] - The average size of panels has increased to 49.9 inches, reflecting a trend towards larger screens, despite the overall market challenges [6] - BOE's chairman, Chen Yanshun, stated that the company is entering a new phase of development and is committed to returning value to investors through share buybacks and profit distribution [6] Group 3 - Guo Huaping has no shares in the company, and the board expressed gratitude for his contributions during his tenure [5] - Recent market dynamics show that TV brands are cutting orders, affecting the production rates of panel manufacturers, which are operating below 80% capacity [6] - A recent report from Guosheng Securities predicts BOE's net profit for 2025 to be 9.415 billion yuan, with a "buy" rating assigned to the stock [7]