京东方科技集团股份有限公司 投资者关系活动记录表 根据市场需求弹性调节产线稼动率。根据咨询机构数据，第三 季度行业平均稼动率整体提升，预计第四季度将回落至 80%以 下。由此，咨询机构预计，LCD 产品价格将出现分化，第四季 度 TV 产品价格小幅回调，IT 产品价格整体维持稳定。 展望明年，换机周期和 AI 赋能有望推动 IT 产品需求增长， 世界杯等体育赛事也将带动 TV 产品需求在一季度实现增长。 2、公司如何看待 OLED 供需及产品结构情况？ OLED 方面，下半年进入传统旺季，行业内三季度、四季 度出货量同、环比均实现提升，但行业整体仍呈现供过于求。 从产品结构看，下半年折叠产品出货量预计回落，海外品牌 LTPO 需求占比进一步提升，低端 Ramless 产品出货量快速增 长，国内 OLED 市场竞争日趋激烈。 3、OLED 技术在 IT 领域发展情况？ 编号：2025-030 | 投资者关系活动类别 | √特定对象调研 □分析师会议 | | --- | --- | | | □媒体采访 □业绩说明会 | | | □新闻发布会 □路演活动 | | | □现场参观 | | | □其他 | | 参与单位 ...

Group 1: Industry and Market Overview - In 2025, the total shipment volume and area of LCD products are expected to see slight year-on-year growth, driven by demand for small-sized TVs in emerging markets, while large-sized TV growth may slow temporarily [1][2] - IT product shipments, particularly for notebooks (NB) and tablet PCs (TPC), are projected to experience rapid growth due to replacement demand [2] - The average utilization rate in the industry is expected to rise in Q3 but fall below 80% in Q4, leading to a differentiated pricing outlook for LCD products [2] Group 2: Product Performance and Trends - For the first three quarters of 2025, the revenue structure of display devices is as follows: TV products (28%), IT products (37%), LCD mobile and other products (12%), and OLED products (23%) [5] - The global shipment volume of OLED products is anticipated to grow in 2025, although the overall market remains oversupplied [3][4] Group 3: Future Outlook and Capital Expenditure - The capital expenditure is expected to decline after peaking in 2025 due to significant investments in the Chengdu 8.6 generation OLED production line, with further spending focused on maintenance and innovative projects from 2027 onwards [6] - The company plans to utilize cash flow for minority shareholder equity buybacks, particularly in the context of improving cash flow and decreasing capital expenditures [7]