Core Viewpoint - BOE Technology Group (京东方A) demonstrated steady growth in its performance for the first half of 2025, with significant advancements in various business segments and a clear strategy for future development [2][3]. Group 1: Performance Overview - In the first half of 2025, BOE's overall performance showed steady growth, with notable increases in revenue and net profit, with net profit rising by 82% and 33% respectively [3]. - The company maintained its leading position in the global LCD market, with significant increases in the shipment of various products, including a 60% year-on-year increase in shipments of products larger than 80 inches [2]. - The OLED business also saw growth, with a 7.5% increase in shipments compared to the same period last year, surpassing the industry average growth of 4% [4]. Group 2: Strategic Developments - BOE is focusing on high-end transformation in its product structure, particularly in the OLED segment, and has successfully launched core customer projects [2]. - The company is implementing its "Screen IoT" development strategy, with innovative business segments such as 京东方精电 and 京东方华灿 showing revenue growth of 8% and 34% respectively [2]. - Key projects, including the sixth-generation semiconductor display production line and the 8.6-generation AMOLED production line, have been successfully launched ahead of schedule, enhancing operational resilience [3]. Group 3: Future Outlook and Capital Expenditure - The company plans to focus future capital expenditures on new growth areas rather than significant investments in LCD and OLED expansions [4]. - The depreciation costs are expected to peak this year and then decline significantly, with the company having ample financial reserves to support future growth initiatives [4]. - The company has outlined a shareholder return plan, committing to distribute at least 35% of net profit as cash dividends annually, with nearly 1.9 billion yuan already distributed this year [5]. Group 4: Technological Advancements - BOE is leveraging its accumulated process capabilities in OLED to develop perovskite technology, with stable efficiency achieved in pilot lines [6]. - The company is actively collaborating with clients for testing and validation of glass-based packaging substrates, although some technical challenges remain [6]. Group 5: Investor Engagement - During the investor meeting, the management addressed questions regarding industry technology trends, capital expenditure, and shipment targets, indicating a proactive approach to investor relations [4]. - The company emphasized the importance of ensuring technology maturity and stable yield rates before large-scale investments in new technologies [4].

"为什么要帮别人建产线，不能先搞好自己的产线吗？"这是仁烁光能董事会秘书、战略发展总监许兰库 常被问到的问题。仁烁光能由南京大学教授谭海仁创办，是一家押注全钙钛矿叠层路线的光伏企业。 2024年年中，一家客户找到仁烁光能，希望其协助建设钙钛矿产线。该项目完成后，"钙钛矿整线技术 服务"成为仁烁光能的一项正式业务。今年6月，仁烁光能正式发布了这项业务。 许兰库说，从接触的潜在客户来看，目前对钙钛矿产线感兴趣的企业主要包括三类：计划转型的传统企 业、产业资本、创业企业。此外，部分高校和科研院所也有委托建设研发线的意愿。其中一些企业认可 光伏发展前景，希望抓住市场机遇，却缺乏相应的技术积累，因此有合作建线的需求。 钙钛矿在理论上具备高光电转换效率，成本仅为晶硅光伏的三分之一，目前已完成从实验室研发到量产 技术的开发。今年以来，华能集团、三峡能源（600905）等央企能源集团都在分批次采购，建设实验基 地。正因如此，钙钛矿被市场视为下一代光伏技术的重要路线之一。 目前，市场上提供钙钛矿整线技术服务的企业主要分为两类：一类是已成功搭建量产线的钙钛矿创业企 业，如仁烁光能、极电光能；另一类是光伏设备企业，如捷佳伟创（30 ...