BOE(000725)2025-02-19 00:22Group 1: Market Trends and Demand - In 2024, global TV panel shipments and area are expected to grow, with a demand peak anticipated in Q2 due to overseas market events [1] - The average size of LCD TVs sold globally in 2024 is projected to be approximately 51.6 inches, an increase of about 1.1 inches year-on-year, while in China, the average size is expected to reach 65.8 inches, up by 3.4 inches [3] - The demand for LCD TVs is expected to continue growing, with projections indicating an increase to 54.5 inches by 2029 [3] Group 2: Pricing and Production Capacity - Starting from December 2024, prices for certain large-size LCD TV products began to rise, with a comprehensive price increase across mainstream sizes in January 2025 [1][2] - The industry operating rate was reported to be above 80% in January 2025, reflecting a recovery in terminal demand [2] Group 3: Financial Performance - The company anticipates a net profit attributable to shareholders of between 5.2 billion and 5.5 billion CNY for 2024, representing a year-on-year doubling [4] - For Q4 2024, the expected net profit is approximately 1.9 billion to 2.2 billion CNY, showing significant growth compared to the previous year [4] Group 4: AMOLED Business Development - The company expects to ship approximately 140 million flexible AMOLED units in 2024, with a notable improvement in product structure and an increase in the high-end product ratio [5][6] - The company is actively expanding into automotive and IT sectors to capture market opportunities and align with downstream customer needs [6] Group 5: Depreciation Trends - Overall depreciation is expected to slightly increase in 2024 due to new production line ramp-up and the expiration of mature line depreciation [6] - Depreciation amounts are projected to stabilize in 2024 and 2025, with a potential decrease starting in 2026 [6]