BOE(SZ:000725)2025-12-19 00:46Group 1: Market Performance and Product Trends - The company anticipates an increase in overall shipment volume and area for the year, driven by demand for TV products, despite a slowdown in large-size TV trends due to market dynamics [1] - IT product shipments are expected to grow rapidly due to replacement demand, while MNT product shipments are projected to remain flat year-on-year [1][2] - The OLED market is experiencing increased competition, with a significant rise in low-end Ramless product shipments and a shift towards overseas brand LTPO demand [3] Group 2: Technological Developments - The company announced an investment in an 8.6 generation AMOLED production line to produce high-end touch OLED displays for laptops and tablets, aiming to enhance competitiveness in the high-end market [4] - The company is focused on optimizing product structure to improve operational performance amidst short-term pressures [3] Group 3: Financial Outlook - Depreciation is expected to peak in 2025, with a gradual reduction in depreciation from existing production lines [5] - Capital expenditures are projected to peak in 2025, primarily for the 8.6 generation AMOLED production line and the 6th generation LCD LTPO/LTPS production line [6][7] - The company plans to repurchase minority shareholder equity based on operational and cash flow conditions, following a recent reduction in minority shareholder equity related to the Wuhan 10.5 generation LCD production line [8] Group 4: Shareholder Returns - The company has announced a shareholder return plan for 2025-2027, committing to distribute at least 35% of the net profit attributable to the parent company as cash dividends annually, and to allocate no less than RMB 1.5 billion for share repurchases [9][10] - This plan reflects a comprehensive analysis of the company's operational development, long-term strategy, and external financing environment, aiming to establish a stable and predictable shareholder return mechanism [10]