Core Viewpoint - BOE Technology Group Co., Ltd. is experiencing positive market movements with a recent stock price increase and significant institutional interest, indicating a favorable outlook for the company and the LCD industry overall [1][2]. Group 1: Trading Information - As of June 6, 2025, BOE A shares closed at 3.94 CNY, up 3.68% from the previous week [1]. - On June 6, a block trade occurred with institutional net purchases amounting to 202.12 thousand CNY [2]. Group 2: Industry Insights - The LCD industry is seeing a normalization in supply and demand, with manufacturers adopting a "production based on demand" strategy, leading to a reduction in inventory levels [3]. - The mainstream LCD TV panel prices have been rising since January 2025, but demand is expected to cool down in the second quarter, stabilizing prices in May [3]. Group 3: Company Developments - BOE has made significant progress in its flexible AMOLED business, establishing a competitive edge in production capacity and technology, and is actively engaging with major smartphone brands [3]. - The Chengdu 8.6-generation AMOLED production line project has commenced equipment installation four months ahead of schedule, transitioning from construction to operational phase [4]. - The company anticipates a depreciation expense of approximately 38 billion CNY in 2024, with depreciation expected to peak this year as new projects come online and older lines reach the end of their depreciation period [4]. Group 4: Financial Announcements - BOE has received a loan commitment of 1.8 billion CNY from China Construction Bank for stock repurchase purposes, with a loan term of three years [5].

Group 1: BOE Technology Group Co., Ltd. (京东方A) - BOE Technology indicated that the prices of mainstream LCD TV panels will rise starting January 2025 and continue until March 2025 [1] - The average operating rate of the LCD industry is expected to increase from November 2024, maintaining above 80% in Q1 2025 [1] - The company aims to ship approximately 140 million flexible MOLED panels in 2024, with a target of 170 million in 2025 [1] - Depreciation is projected to be around 38 billion in 2024, with minimal fluctuations in 2025 and 2026 [1] - Capital expenditures will focus on semiconductor display business and IoT innovations [1] - In 2024, the revenue breakdown for display devices will be 26% from TV, 34% from IT, and 40% from mobile and other products, with OLED business revenue accounting for 27% [1] - The company plans to repurchase minority shareholder equity based on operational performance and cash flow [1] Group 2: Guangguang Technology (聚光科技) - Changes in tariff policies have increased procurement costs for scientific instruments but present strategic opportunities for domestic manufacturers [2] - The company's business restructuring has improved gross margins and reduced costs, with plans to increase investment in advantageous business areas [2] - The subsidiary, Lingxi Optoelectronics, has a high-precision greenhouse gas analyzer, with a rapidly growing contract amount expected in 2024 [2] - Laboratory instruments are experiencing good growth, and the environmental monitoring market is steadily increasing, focusing on high-end instruments centered around mass spectrometers [2] - The company aims to establish a modern environmental management model based on "intelligent perception - precise decision-making - closed-loop management" [2] - Goodwill is approximately 200 million, with impairment testing required based on the operational status of each company [2] Group 3: Shanghai Mingcun Investment Management Co., Ltd. (明汯投资) - Shanghai Mingcun Investment was established in 2014 with a registered capital of 10 million, focusing on quantitative investment [3] - The company utilizes strong data mining, statistical analysis, and software development capabilities to create a systematic trading and asset management platform [3] - Investment strategies include quantitative stock selection, CTA, and arbitrage, with a diverse strategy development team [3] - The firm has a deep understanding of the financial securities market, covering market analysis, strategy development, asset allocation, risk management, and system development [3] - Mingcun Investment is recognized as a leading quantitative investment institution in China, integrating international experience with local market conditions [3]