BOE Technology Group Company (000725) H2 2024 earnings summary

Executive summary

• Annual revenue reached RMB198.38 billion, up 13.66% year-over-year, with net profit attributable to shareholders at RMB5.32 billion, a 108.97% increase year-over-year.

• All major business lines showed strong momentum, with global LCD shipments and five major application products ranked number one worldwide.

• Flexible OLED shipments grew to nearly 140 million units, ranking second globally, and foldable shipments increased by about 40%.

• The company continued to lead in innovation, launching the world's first Z-shaped three-fold screen and iterating UB Cell technology for high-end TVs.

• Significant progress was made in MLED, sensor, and smart engineering medicine businesses, with notable revenue and operational improvements.

Financial highlights

• Operating revenue: RMB198.38 billion, up 13.66% year-over-year.

• Net profit attributable to shareholders: RMB5.32 billion, up 108.97% year-over-year.

• Net cash from operating activities: RMB47.74 billion, up 24.64% year-over-year.

• Basic and diluted EPS: RMB0.14, up 133.33% year-over-year.

• Gross margin for Display Devices: 12.76%; for IoT Innovation: 10.59%.

Outlook and guidance

• Focus on high-quality growth in Display Devices, with emphasis on ultra-large and high-refresh LCDs and technological breakthroughs in OLED.

• IoT Innovation to integrate AI and expand digital scenario solutions, aiming for business scale growth.

• Continued investment in sensors, MLED, and smart engineering medicine, with a strong push for sustainable and green development.

• Commitment to digital transformation and adherence to market-oriented, international, and professional development.