BOE(SZ:000725)2023-04-06 22:58Group 1: Industry and Market Overview - The semiconductor display demand has been impacted by geopolitical conflicts, high global inflation, and energy crises in Europe and the US, leading to a decline in terminal sales across five major applications in 2022 [1] - In 2022, the shipment volume of mobile panels significantly decreased, while TV panel shipments remained low, with the average shipment area of TV panels declining for the first time [1] - Despite the downturn, applications such as automotive displays, metaverse, specialized displays, and smartwatches showed growth in shipments [2] Group 2: Company Performance - In 2022, the company solidified its position in the display sector, ranking first globally in the shipment volume of LCD screens across major applications including smartphones, tablets, laptops, monitors, and TVs [3] - The company achieved a shipment volume of nearly 80 million flexible AMOLED panels in 2022, marking a year-on-year growth of over 30% [3] - The company maintained a leading position in the automotive display market, with a global shipment volume ranking first and a coverage rate of 90% among the top Tier 1 international clients [3] Group 3: Financial Performance - The company's revenue and gross margin saw a decline year-on-year, but it still maintained industry-leading levels [4] - R&D investment reached 12.6 billion, accounting for 7.08% of revenue, reflecting a commitment to innovation despite market challenges [4] - The revenue structure improved, with TV, IT, and mobile products accounting for 20%, 41%, and 39% of display product revenue respectively [4] Group 4: Future Outlook - The company anticipates continued growth in flexible AMOLED shipments, targeting over 120 million units in 2023, driven by an increase in high-end product ratios [5] - The company plans to focus capital expenditures on strategic initiatives, including enhancing AMOLED competitiveness and accelerating IoT solutions [6] - The company is investing in VR display solutions, aiming to strengthen its position in the emerging metaverse market [6]