Group 1 - The core viewpoint of the article indicates that BOE A expects growth in both shipment volume and area for LCD products in 2023, despite a temporary slowdown in the trend towards larger sizes due to increased demand for smaller TV products driven by emerging markets [1] - The IT product segment is anticipated to see rapid growth in shipment volume due to replacement demand, while MNT product shipments are expected to remain flat year-on-year [1] - The industry is adopting a "production based on demand" strategy, adjusting production line utilization rates according to market demand elasticity, with an overall increase in average utilization rates in Q3, but a forecasted decline to below 80% in Q4 [1] Group 2 - LCD product prices are expected to show differentiation, with a slight decline in TV product prices in Q4, while IT product prices are projected to remain stable [1] - Looking ahead to next year, the replacement cycle and AI integration are expected to drive demand growth for IT products, while upcoming sports events like the World Cup are likely to boost TV product demand in Q1 [1]

人民财讯11月24日电，京东方A(000725)11月21日在机构调研时表示，LCD方面，TV产品出货受国补、 抢出口刺激需求前移，年内淡旺波动明显熨平，全年出货量、出货面积均有望实现增长；但受新兴市场 需求带动中小尺寸TV产品出货量提升影响，大尺寸化趋势阶段性放缓。IT产品受换机需求带动，全年 出货量有望实现较快增长，MNT产品出货量预计同比持平。 ...

11月21日，京东方（BOE）在核心能力大楼接待了中国人寿资产管理、中泰证券等2家机构的特定对象 调研。公司副总裁、董事会秘书郭红携团队就LCD与OLED市场供需格局、价格趋势、技术布局及股东 回报规划等核心议题与机构投资者进行深入交流。 LCD市场：供需分化下价格走势分化，四季度TV价回调IT稳 谈及LCD市场，京东方指出，2025年TV产品需求受国补及抢出口政策刺激，年内出货量与出货面积有 望实现增长，但大尺寸化趋势因新兴市场中小尺寸需求提升而阶段性放缓。IT产品则受益于换机需求， 全年出货量预计较快增长，其中显示器（MNT）产品出货量同比持平。 行业供给端呈现"按需生产"特征，三季度平均稼动率整体提升，四季度预计回落至80%以下。在此背景 下，咨询机构预测LCD产品价格将分化：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2026年，换机周期与AI技术赋能有望持续拉动IT产品需求，而世界杯等体育赛事或推动TV产品需 求在一季度迎来增长。 OLED竞争：折叠屏需求回落低端产品增长，LTPO技术锁定高端 OLED市场方面，尽管下半年进入传统旺季，行业三季度、四季度出货量同环比均有提升，但整体仍 ...

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 ...

（编辑 袁冠琳） 证券日报网讯 京东方A11月21日发布公告，在公司回答调研者提问时表示，LCD方面，TV产品出货受 国补、抢出口刺激需求前移，年内淡旺波动明显熨平，全年出货量、出货面积均有望实现增长；但受新 兴市场需求带动中小尺寸TV产品出货量提升影响，大尺寸化趋势阶段性放缓。IT产品受换机需求带 动，全年出货量有望实现较快增长，MNT产品出货量预计同比持平。为应对需求变化，行业内厂商坚 持"按需生产"的经营策略，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。 ...

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：2025-029 | 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 | | 参与单位名称 | 华宝基金：毛文博、马文博 | | | 申银万国证券：袁航 | | 时间 | 2025 年 11 月 20 日 | | 地点 | 电话会议 | | 上市公司接待人员姓名 | 罗文捷 证券事务代表 | | | 于含悦 董事会秘书室工作人员 | | | 吴易霖 董事会秘书室工作人员 讨论的主要内容为回答投资者提问，问答情况如下： | | | 1、公司如何看待 LCD 供需及产品价格趋势？ | | | 答：LCD 方面，TV 产品出货受国补、抢出口刺激需求前 | | 投资者关系活动主要内 | 移，年内淡旺波动明显熨平，全年出货量、出货面积均有望实 | | 容介绍 | 现增长；但受新兴市场需求带动中小尺寸 TV 产品出货量提升 | | | 影响，大尺寸化趋势阶段性放缓。IT 产品受换机需求带动，全 | | | 年出货量 ...

截至9月30日，同兴达股东户数3.47万，较上期减少10.66%；人均流通股7205股，较上期增加11.93%。 2025年1月-9月，同兴达实现营业收入76.05亿元，同比增长9.24%；归母净利润-1538.17万元，同比减少 121.23%。 分红方面，同兴达A股上市后累计派现1.52亿元。近三年，累计派现3886.39万元。 机构持仓方面，截止2025年9月30日，同兴达十大流通股东中，香港中央结算有限公司位居第五大流通 股东，持股294.88万股，为新进股东。 责任编辑：小浪快报 11月20日，同兴达盘中上涨2.20%，截至13:18，报14.37元/股，成交3509.17万元，换手率0.99%，总市 值47.07亿元。 资金流向方面，主力资金净流出74.54万元，大单买入151.70万元，占比4.32%，卖出226.25万元，占比 6.45%。 同兴达今年以来股价跌4.97%，近5个交易日涨1.99%，近20日涨2.94%，近60日跌9.17%。 资料显示，深圳同兴达科技股份有限公司位于广东省深圳市龙华区观湖街道鹭湖社区澜清一路3号荣超 新时代广场B座18-21层，成立日期2004年4月30日，上 ...

Vi e w p o i n t | 06 Nov 2025 00:46:00 ET │ 14 pages 2026E new technology — Mgmt. anticipates their new technology launched in 2026E to be likely a disruptive innovation to the industry. Compared to God's Eye in 2025, next year's new technologies will be more intuitive and better able to solve user pain points, per mgmt. (Continued) | Earnings Summary | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | Year to | Net Profit | Diluted EPS | EPS growth | P/E | P/B | ROE | Yield | | 31 Dec | (R ...

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]

Group 1: LCD Market Outlook - The total shipment volume and area of LCD products are expected to see a slight year-on-year increase in 2025 [1] - TV product shipments and area are projected to grow, but the trend towards larger sizes is temporarily slowing due to increased demand for smaller-sized TVs in emerging markets [1] - IT products, driven by replacement demand, are expected to see rapid growth in shipments, while MNT product shipments are anticipated to remain flat [1][2] - The average utilization rate in the industry is expected to drop below 80% in Q4 2025, following a peak in Q3 [2] Group 2: AMOLED Business Progress - The company has established a competitive position in the flexible AMOLED market, covering major top smartphone brands and increasing the proportion of high-end products [3] - The shipment target for flexible AMOLED in 2025 aims for double-digit growth from 140 million units in the previous year [3][4] - The third quarter OLED shipment volume was approximately 40 million units, with expectations for double-digit growth for the year [5] Group 3: Capital Expenditure Trends - Future capital expenditures are expected to decline, with 2025 being a peak year due to significant investments in the Chengdu 8.6 generation OLED production line [6] - Expenditures in 2026 will still occur for subsequent equipment purchases, but a significant drop is anticipated starting in 2027 as new production line investments are not planned [6][7]