BOE Releases Strong Half-Year Performance Forecast for 2024
On July 12, 2024, BOE Technology Group Co., Ltd. (BOE A: 000725; BOE B: 200725) announced its performance forecast for the first half of 2024, projecting a net profit attributable to shareholders of the listed company between 2.1 billion and 2.3 billion yuan.
This represents a remarkable year-on-year (YoY) growth of 185% to 213%. The forecast also indicates a significant increase in net profit after deducting non-recurring gains and losses.
With a robust operational strategy and industry-leading technological advantages, BOE continues to drive its “Screen Internet of Things” strategy through technological innovation and green development.
The company has shown consistent improvement in profitability since 2024, demonstrating its strong technical capabilities and resilience in the global semiconductor display sector, laying a solid foundation for favorable overall performance throughout the year.
Industry outlook
Since the beginning of 2024, the semiconductor display industry has seen a rise in market sentiment, with an ongoing optimization of the industry landscape.
In the first half of 2024, BOE has maintained its position as a market leader in the display sector. According to market research firm Omdia, BOE continues to rank first globally in terms of both overall shipments and shipments across five key sub-segments in the LCD display market.
In May 2024, BOE made a significant impact at the SID International Display Week by showcasing numerous globally debuted innovative technology products and cutting-edge applications. The company introduced the concept of “All-Scene AI Smart Display” and related solutions.
BOE emerged as the most awarded company at the SID Honors Awards, highlighting its technological foresight, leadership, and the global influence of Chinese display technology on the world stage.
Awards and innovations
In July 2024, BOE again garnered recognition, winning eight awards at the DIC AWARD 2024 for its cutting-edge technologies, including the large-size oxide smart cockpit for vehicles, “AI + Display” picture enhancement technology, and green low-carbon display solutions.
This further establishes BOE as a trendsetter in the display industry with its focus on “Technology + Green.”
In the LCD display sector, the demand for TV panels has surged due to major sporting events and e-commerce promotions.
As the global leader in semiconductor displays, BOE has maintained its position as the top supplier of TV displays for six consecutive years (Omdia data), adhering to a “demand-driven production” strategy while continuously optimizing its product structure.
Expanding in flexible displays
In the flexible display market, BOE’s shipments of flexible AMOLED products continued to grow YoY in the first half of 2024.
The company is also deeply engaged in the high-end AMOLED market, exemplified by its investment in China’s first 8.6-generation AMOLED production line.
This move accelerates the OLED display industry into the mid-size development phase and continues to empower flagship models for top global smartphone brands like Honor, OPPO, and Vivo.
Looking ahead
2024 marks a pivotal starting point for BOE as it embarks on the next thirty years under the guidance of its “Screen Internet of Things” strategy.
Moving forward, BOE will continue to focus on its core business and high-quality development principles.
The company aims to solidify its leading position in the semiconductor display sector while promoting high-quality growth across all its business units.
By enhancing the synergy effects of its industrial ecosystem, BOE is poised to accelerate the formation of new productive forces in the industry, ensuring steady operations and long-term sustainable development for the year ahead.
By following the path set by industry pioneers like BOE, Hongguang Display seeks to establish itself as a competitive player in the global display market, contributing to the growth of the semiconductor display industry and delivering exceptional value to its clients.
