BOE(000725)2025-03-13 13:02Group 1: LCD Industry Demand and Pricing - The demand for LCD TVs is strong due to the "old-for-new" policy in the domestic market and inventory buildup in overseas markets, with an average screen size of 51.6 inches globally in 2024, up by 1.1 inches year-on-year [1] - In China, the average screen size for LCD TVs is projected to be 65.8 inches in 2024, an increase of 3.4 inches year-on-year [1] - LCD TV panel prices have been rising since January 2025, with expectations for continued increases in March 2025 due to strong terminal demand [2] - The average utilization rate in the LCD industry has been above 80% since November 2024, indicating a recovery in production capacity [2] Group 2: Flexible AMOLED Business Progress - The company shipped approximately 140 million flexible AMOLED panels in 2024, showing a significant year-on-year growth and an improved product structure with a higher proportion of high-end products [3] - The company is actively expanding into automotive and IT sectors for mid-size innovative applications to capture market opportunities [3] Group 3: Production Line Developments - The 8.6-generation AMOLED production line project was initiated in March 2024 and is expected to achieve mass production by the end of 2026, enhancing the company's competitiveness in the semiconductor display industry [4] - The overall depreciation for the company is expected to slightly increase in 2024 due to new production lines, with fluctuations in depreciation anticipated in 2024 and 2025, followed by a potential decrease starting in 2026 [5] Group 4: Capital Expenditure and Strategic Focus - The company plans to repurchase minority shareholder equity based on operational performance and cash flow, with future capital expenditures aligned with strategic planning [5] - The focus of future capital expenditures will be on the semiconductor display business and extending the value chain into IoT innovations, sensors, MLED, and smart medical engineering [5]