2月26日早间，全球显示面板龙头企业京东方（000725.SZ）发布最新投资者关系活动记录，针对市场关注的LCD TV面板价格走势、第8.6代OLED产线 建设进展等热点问题作出回应。 关于LCD TV面板价格走势，京东方表示，需求端受体育赛事备货和春节岁修等因素推动，2026年第一季度TV品牌厂商延续了2025年第四季度以来的积 极备货态势，TV面板出货量持续增长。供给方面，行业企业坚持"按需生产"的经营策略，灵活调整稼动率以匹配市场需求，预计3月整体稼动率将维持高 位。根据第三方咨询机构数据，2026年2月各主流尺寸TV面板价格已全面上涨，且涨幅持续扩大，预计3月TV面板价格将继续上行。 此外，京东方透露，其第8.6代AMOLED生产线已于2025年12月30日提前5个月成功点亮，计划于2026年下半年正式量产。 京东方成立于1993年4月，1997年进入显示终端领域，2001年1月在A股上市。显示器件是公司的核心业务，营收占比超过八成。此次点亮的第8.6代 AMOLED生产线为国内首条同世代线，项目总投资630亿元，落户成都高新区，占地面积92.52万平方米（约1388亩），设计产能为每月3.2万片玻璃 ...

2月25日，京东方接受了特定对象调研，针对有关LCD TV产品价格、存储涨价等问题进行了相关 答复： 1、 公司如何看待LCD TV产品价格趋势？ 答：需求端来看，受体育赛事、春节岁修等因素影响，一季度TV品牌厂延续了2025年四季度以来 较强劲的备货需求，TV类产品出货量持续走高。供给端，行业内厂商坚持"按需生产"策略，灵活 调整稼动率以匹配需求，预计三月份整体稼动率处于高位。 根据第三方咨询机构数据，2026年2月各主流尺寸TV产品价格维持全面上涨，且价格涨幅呈扩大 态势，预计3月份TV面板价格维持上涨。 2 、 公司目前创新业务的新进展？ 答：公司在"第N曲线"理论指导下，持续落实"屏之物联"发展战略，重点布局钙钛矿光伏、玻璃基 封装载板等创新业务。 钙钛矿业务方面，公司依托在显示产业长期积累的玻璃基加工能力、薄膜制备工艺能力、封装和 设备优势及大规模智能制造能力，有效赋能钙钛矿太阳能电池研发与生产。 玻璃基封装载板技术方面，公司已完成大板级玻璃载板中试线的建设并实现工艺通线。钙钛矿业 务和玻璃基先进封装业务作为公司"第N曲线"战略升维理论下布局的代表性业务，将持续推动公司 面向未来的成长。 3 、 存 ...

4、公司未来折旧和资本开支的趋势如何？ 答：目前，公司存量产线折旧持续减少，在建产线项目将 综合考虑爬坡情况进行分阶段转固，折旧金额在 2025 年达到 峰值。资本开支同样在 2025 年达到高峰，预计从 2027 年开始 有望大幅下降。 5、存储涨价对显示行业的影响？ 答：受存储涨价对消费电子冲击的影响，预计终端厂商与 面板厂商在部分产品类别将承受一定压力。分产品类别来看， 对笔记本电脑和智能手机终端需求有可能产生一定程度的影 响；综合考虑 TV 面积需求增长等因素，对电视终端需求影响 有限。 京东方科技集团股份有限公司 投资者关系活动记录表 编号：2026-006 | | √特定对象调研 □分析师会议 | | | | | --- | --- | --- | --- | --- | | | □媒体采访 □业绩说明会 | | | | | 投资者关系活动类别 | □新闻发布会 □路演活动 | | | | | | □现场参观 | | | | | | □其他 | | | | | 参与单位名称 | 华夏基金：朱熠、张帆、王君正、刘心任、徐恒、史琰鹏 | | | | | 时间 | 2026 年 2 月 25 日 | | ...

Group 1 - The company anticipates a strong demand for LCD TV products as brands prepare for the upcoming Spring Festival, leading to increased shipment volumes. The industry is maintaining a "production on demand" strategy, with overall utilization rates remaining high. Prices for mainstream TV products are expected to rise in January 2026, with further increases anticipated in February [1][2]. Group 2 - AMOLED technology is becoming a key choice for high-end IT products due to its high picture quality and lightweight characteristics. The company's 8.6-generation AMOLED production line was successfully lit up five months ahead of schedule on December 30, 2025, marking a significant breakthrough in mid-size OLED technology development. Mass production is expected to begin in the second half of 2026, enhancing the company's competitiveness in the display industry [2]. Group 3 - The company is advancing its innovative business under the "N-th curve" theory, focusing on perovskite photovoltaics and glass-based packaging substrates. Leveraging its long-term experience in the display industry, the company is effectively supporting the research and production of perovskite solar cells. The construction of a pilot line for large glass substrates has been completed, and these innovative businesses are expected to drive future growth [3]. Group 4 - The company expects a decrease in depreciation of existing production lines, with capital expenditures peaking in 2025. From 2027 onwards, a significant reduction in capital expenditures is anticipated [4].

在技术发展方面，公司第8.6代AMOLED生产线已于2025年12月30日成功提前5个月点亮，标志着公司 在中尺寸OLED技术研发、工艺调试与量产准备方面率先取得关键性突破，该产线预计将于2026年下半 年进入量产阶段。创新业务方面，公司在"第N曲线"理论指导下持续落实"屏之物联"发展战略，重点布 局钙钛矿光伏、玻璃基封装载板等创新业务，其中玻璃基封装载板技术已完成大板级玻璃载板中试线建 设并实现工艺通线。 财务和股东回报规划方面，公司存量产线折旧持续减少，在建产线项目将综合考虑爬坡情况进行分阶段 转固，折旧金额和资本开支均在2025年达到峰值，预计从2027年开始资本开支有望大幅下降。2025年公 司于5月底完成注销价值近10亿元的库存股，6月完成2024年度利润分配现金分红约18.7亿元，年内完成 超15亿元的A股回购方案，完成《未来三年(2025年-2027年)股东回报规划》的承诺，未来将持续落实股 东回报规划。 2026年02月05日，京东方A披露接待调研公告，公司于02月04日接待睿远基金等1家机构调研。 财经频道更多独家策划、专家专栏，免费查阅>> 京东方Ａ（000725）最新股价为4.35元，较 ...

格隆汇2月5日丨京东方A(000725.SZ)近日在接待机构投资者调研时表示，公司在"第N曲线"理论指导 下，持续落实"屏之物联"发展战略，重点布局钙钛矿光伏、玻璃基封装载板等创新业务。钙钛矿业务方 面，公司依托在显示产业长期积累的玻璃基加工能力、薄膜制备工艺能力、封装和设备优势及大规模智 能制造能力，有效赋能钙钛矿太阳能电池研发与生产。玻璃基封装载板技术方面，公司已完成大板级玻 璃载板中试线的建设并实现工艺通线。钙钛矿业务和玻璃基先进封装业务作为公司"第N曲线"战略升维 理论下布局的代表性业务，将持续推动公司面向未来的成长。 ...

Group 1: Market Trends and Product Pricing - The demand for LCD TV products is strong due to pre-holiday stocking by brand manufacturers, leading to increased shipment volumes [1] - In January 2026, mainstream TV product prices rose across the board, with expectations for further price increases in February [1] Group 2: Technological Advancements - The company's 8.6 generation AMOLED production line was successfully lit up on December 30, 2025, five months ahead of schedule, marking a significant breakthrough in OLED technology [2] - The AMOLED production line is expected to enter mass production in the second half of 2026, enhancing the company's competitiveness in the IT sector [2] Group 3: Innovation and Strategic Development - The company is implementing the "N Curve" theory to drive its "screen IoT" strategy, focusing on innovative businesses such as perovskite photovoltaics and glass-based packaging substrates [3] - The perovskite solar cell development leverages the company's existing capabilities in glass processing and intelligent manufacturing [3] Group 4: Financial Outlook - Depreciation of existing production lines is expected to continue decreasing, with capital expenditures peaking in 2025 and anticipated to decline significantly from 2027 [4] - In 2025, the company completed a share buyback worth nearly 1 billion yuan and distributed approximately 1.87 billion yuan in cash dividends [6]

Group 1 - The core viewpoint of the news is that Woge Optoelectronics (stock code: sh603773) has reached its daily limit up, with a price of 42.55 yuan, reflecting a 10.01% increase and a total market capitalization of 9.559 billion yuan [1] Group 2 - Woge Optoelectronics is transitioning from traditional display business to high-end fields such as Mini LED, focusing on glass-based Mini LED backlight modules with an annual production capacity of 6.05 million pieces, aligning with new display technology trends [2] - The company has full-process capabilities in the commercial aerospace sector, including UTG processing and CPI slurry, meeting the flexible substrate and protection needs for satellite flexible solar wings, with ongoing business collaborations and product testing [2] - In the first half of 2025, the company's R&D expenses accounted for 7.44%, higher than the industry average, with a total of 439 patents, indicating strong ongoing investment in R&D to enhance technical strength and drive business transformation [2]

Core Viewpoint - BOE Technology Group has reported positive developments in its LCD and AMOLED production lines, with increased demand and pricing in the TV segment, alongside advancements in perovskite solar cell technology and glass-based packaging substrates. Group 1: LCD and AMOLED Production - Since December 2025, the demand for TV products has surged due to preparations for upcoming sports events, leading to increased procurement by brand manufacturers and higher TV product shipment volumes [1][3] - The industry maintains a "just-in-time production" strategy, resulting in high overall utilization rates, with mainstream TV product prices rising across all sizes in January 2026 [3] - The 8.6-generation AMOLED production line was successfully lit up on December 30, 2025, five months ahead of schedule, and is expected to enter mass production in the second half of 2026, enhancing the company's competitiveness in the display industry [4] Group 2: Depreciation and Capital Expenditure - The depreciation of existing production lines is continuously decreasing, with the depreciation amount expected to peak in 2025 [5] - 2025 marks the peak year for capital expenditures, primarily for the 8.6-generation AMOLED production line in Chengdu and the 6th generation LCD LTPO/LTPS production line in Beijing, with continued investment in the Chengdu project in 2026 and a significant decline in capital expenditures anticipated starting in 2027 [6] Group 3: Perovskite Solar Cell and Glass-Based Packaging - The company is leveraging its technological and manufacturing advantages in the display industry to develop perovskite solar cells, achieving industry-leading efficiency levels and setting four world records in component efficiency through third-party testing [2][8] - The company has completed the construction of a pilot line for large glass substrates and is initiating technical and product development collaborations with leading domestic and international clients [8]

Group 1: LCD TV Product Price Trends - The demand for TV products has increased due to preparations for upcoming sporting events, leading to higher procurement by brand manufacturers since December 2025 [1] - The overall production rate in the industry remains high as manufacturers adopt a "production based on demand" strategy [1] - As of January 2026, prices for mainstream TV products across various sizes have risen significantly [1] Group 2: OLED Technology Development - AMOLED technology is becoming a key choice for high-end IT products due to its high picture quality and lightweight characteristics [2] - The company's 8.6 generation AMOLED production line was successfully lit up five months ahead of schedule on December 30, 2025, marking a significant breakthrough in mid-size OLED technology [2] - Mass production of this line is expected to begin in the second half of 2026, enhancing the company's competitiveness in the display industry [2] Group 3: Depreciation and Capital Expenditure Trends - The depreciation of existing production lines is continuously decreasing, with capital expenditures expected to peak in 2025 [3] - From 2027 onwards, a significant decline in capital expenditures is anticipated [3] Group 4: Perovskite Project Progress - The company is leveraging its long-term experience in the display industry to advance the research and production of perovskite solar cells [4] - The efficiency of perovskite photovoltaic components has reached industry-leading levels, with rigid single-junction components achieving a champion efficiency of 27.61% [4] - The company is focused on improving the efficiency and lifespan of perovskite products to address industrialization challenges [5] Group 5: Glass-Based Packaging Technology - The company has completed the construction of a pilot line for large glass-based packaging boards and has initiated technical and product development collaborations with leading domestic and international clients [5] Group 6: Shareholder Return Planning - In May 2025, the company completed the cancellation of inventory shares valued at nearly 1 billion yuan and distributed approximately 1.87 billion yuan in cash dividends in June 2025 [5] - The company plans to execute a share repurchase scheme exceeding 1.5 billion yuan within the year and is committed to its shareholder return plan for 2025-2027 [5]