BOE(SZ:000725)2025-06-27 15:40Group 1: Market Trends and Product Pricing - The LCD industry is adopting a "production based on demand" strategy, adjusting production rates according to market demand changes. In Q1, driven by high export demand and "old-for-new" policies, overall terminal demand remained strong, leading to a general price increase for mainstream LCD TV panel sizes [2] - In June, prices for certain LCD TV products slightly decreased due to changes in the international trade environment and a cooling demand for panel procurement [2] - Prices for MNT and NB panels in the LCD IT segment remained stable [2] Group 2: Production Line Developments - The 8.6 generation AMOLED production line in Chengdu commenced equipment installation four months ahead of schedule on May 20, marking the transition from construction to operational phase [3] Group 3: Revenue Structure for 2024 - In 2024, the revenue structure for display devices is projected as follows: TV products (26%), IT products (34%), LCD mobile phones and other products (13%), and OLED products (27%) [4] Group 4: Depreciation and Future Trends - The company anticipates a depreciation of approximately RMB 38 billion in 2024, with an increase compared to 2023 due to the completion of depreciation for several high-generation production lines [5] - Future depreciation is expected to peak this year as new projects mature and existing production lines complete their depreciation [5] Group 5: Capital Expenditure Plans - The company is transitioning from a rapid expansion phase in LCD production to a mature phase, with future capital expenditures focusing on semiconductor display business and strategic planning [6][7] Group 6: Shareholder Return Strategy - The company announced a shareholder return plan for 2025-2027, committing to distribute at least 35% of the net profit attributable to shareholders in cash annually and to repurchase shares worth no less than RMB 1.5 billion each year [8] - The plan reflects a comprehensive analysis of operational conditions, long-term strategies, and shareholder interests, aiming to establish a stable and predictable return mechanism [8] - As part of this strategy, the company completed a stock buyback worth nearly RMB 1 billion by the end of May and is progressing with the 2024 profit distribution plan [8]