证券日报网讯 京东方A9月30日发布公告，在公司回答调研者提问时表示，行业内厂商持续践行"按需生 产"的经营策略，根据市场需求变化，灵活调整产线稼动率。根据咨询机构数据及分析，一季度，得益 于出口需求高涨和"以旧换新"政策刺激，终端需求整体旺盛，行业内企业普遍保持高稼动率，LCDTV 主流尺寸面板价格全面上涨；二季度，国际贸易环境和政策边际效应发生变化，面板采购需求有所降 温，行业内企业快速调整稼动率，应对需求变化；三季度以来，随着厂商去库存趋势结束，旺季面板备 货需求逐步恢复，行业稼动率有所恢复的同时，LCDTV部分尺寸价格经历小幅下降后，部分LCDTV面 板价格企稳；LCDIT方面，MNT、NB面板价格整体维持稳定。 （编辑 袁冠琳） ...

证券日报网讯 京东方A9月29日发布公告，在公司回答调研者提问时表示，行业内厂商持续践行"按需生 产"的经营策略，根据市场需求变化，灵活调整产线稼动率。根据咨询机构数据及分析，一季度，得益 于出口需求高涨和"以旧换新"政策刺激，终端需求整体旺盛，行业内企业普遍保持高稼动率，LCDTV 主流尺寸面板价格全面上涨；二季度，国际贸易环境和政策边际效应发生变化，面板采购需求有所降 温，行业内企业快速调整稼动率，应对需求变化；三季度以来，随着厂商去库存趋势结束，旺季面板备 货需求逐步恢复，行业稼动率有所恢复的同时，LCDTV部分尺寸价格经历小幅下降后，部分LCDTV面 板价格企稳；LCDIT方面，MNT、NB面板价格整体维持稳定。 ...

京东方A在机构调研时表示，三季度以来，随着厂商去库存趋势结束，旺季面板备货需求逐步恢复，行 业稼动率有所恢复的同时，LCD TV部分尺寸价格经历小幅下降后，部分LCD TV面板价格企稳；LCD IT方面，MNT、NB面板价格整体维持稳定。 ...

人民财讯9月29日电，京东方Ａ（000725）在机构调研时表示，三季度以来，随着厂商去库存趋势结 束，旺季面板备货需求逐步恢复，行业稼动率有所恢复的同时，LCD TV部分尺寸价格经历小幅下降 后，部分LCD TV面板价格企稳；LCD IT方面，MNT、NB面板价格整体维持稳定。 ...

Group 1 - TrendForce reported a recovery in TV panel demand, with prices stabilizing in late August after a decline [1] - The demand for small-sized TV panels has significantly increased due to expected limited supply and relatively low prices, leading to a stronger purchasing momentum compared to Q2 [1] - It is anticipated that prices for TV panels ranging from 32 inches to 75 inches will stabilize, reflecting a trend towards equilibrium [1] Group 2 - The demand for notebook (NB) panels is expected to maintain a strong momentum, with a slight projected increase of 1.8% in Q3 [2] - Panel manufacturers are cautious about raising prices due to ongoing competition for customer orders, opting instead to maintain stable pricing through discounts [2] - The price trend for NB panels in August is expected to remain flat across the board [2]

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: Semiconductor Industry - SMIC achieved a record sales revenue of $2.2472 billion in Q1 2025, representing a year-on-year growth of 28.4%, with a gross margin remaining stable and an operating profit of $395.71 million, up 12,766.6% year-on-year [3] - For Q2, SMIC projects a revenue decline of 4% to 6% and a gross margin of 18% to 20%, indicating a mixed outlook for the second half of the year [3] - Hua Hong Semiconductor reported Q1 sales revenue of $540.9 million, a year-on-year increase of 17.6%, with a gross margin of 9.2%, up 2.8 percentage points year-on-year [4] - Hua Hong expects Q2 sales revenue to be between $550 million and $570 million, with a gross margin between 7% and 9%, amid uncertainties in customer demand and procurement costs [5] Group 2: Display Panel Industry - In May, domestic panel manufacturers increased production control and reduced utilization rates to stabilize prices, leading to a forecast of stable panel prices for the month [6] - Analysts believe that while end-market demand may experience temporary adjustments, domestic panel companies are well-prepared to respond through dynamic capacity adjustments and product optimization [6] - BOE indicated that the average utilization rate in the LCD industry has been above 80% since Q1 2025, but anticipates flexible adjustments in production lines in response to declining demand in Q2 [7] - The consolidation of the industry is accelerating, with BOE open to acquiring shares in Huacai and TCL completing the acquisition of LGD's Guangzhou factory, which will optimize the industry structure [7] Group 3: Automotive Industry - Geely Auto announced plans to fully merge with Zeekr Technology, aiming to enhance competitiveness in the smart electric vehicle sector through resource integration and cost reduction [8] - Post-merger, Geely's brands will maintain independent positioning while seeking collaborative development in technology, products, and supply chains [8] - Geely's chairman emphasized the importance of adapting to market competition and economic conditions to enhance innovation and profitability, creating long-term value in the global smart electric vehicle market [8]