BOE's net profit in the first three quarters of 2024 increased by three digits. "Screen Internet of Things" led the company's high-quality development

On October 30, BOE Technology Group Co., Ltd. released its third quarter report for 2024. In the first three quarters, the company achieved operating income of 143.732 billion yuan, an increase of 13.61% over the same period last year; net profit attributable to shareholders of listed companies was 3.310 billion yuan, a significant increase of 223.80% year-on-year. Among them, the third quarter achieved operating income of 50.345 billion yuan, an increase of 8.65% over the same period last year; net profit attributable to shareholders of listed companies was 1.026 billion yuan, an increase of 258.21% year-on-year. With its stable business strategy and industry-leading technological advantages, BOE (BOE) maintains its leading position in the semiconductor display industry while continuing to promote the in-depth layout and results of the "1+4+N+ ecological chain" in various market segments, and continuously deepens the transformation and application of the "Screen Internet of Things" strategy in multiple business scenarios. Facing the next thirty years, BOE (BOE) actively promotes the construction of the "Nth curve" of industrial development, creates a new business growth pole, and continuously stimulates the vitality of the industrial ecology.

In addition to its outstanding performance, BOE has also continued to increase its investment and exploration in cutting-edge technology and IoT transformation, injecting new vitality into the future development of the global display and IoT industries. In the third quarter, BOE's Global Innovation Partner Conference was successfully held, fully demonstrating the company's important breakthroughs in cutting-edge technology and the results of IoT transformation and innovation, and released the strategic dimension-upgrading "Nth Curve" theory of corporate innovation and development. This theory not only carries the profound heritage of corporate culture, but also deeply expands core advantageous resources. Under the guidance of the "Nth Curve" theory, BOE has focused on emerging fields such as glass-based and perovskite. Among them, the pilot line of perovskite photovoltaic cells took only 38 days from equipment moving in to the output of the first batch of samples, setting a new industry record. This breakthrough marks that BOE has taken an important step on the road to the industrialization of perovskite photovoltaics. With outstanding strength and efficient speed, it strives to create the key growth pole of the "Nth Curve" and continue to lead the industry towards intelligent and sustainable development.

Maintaining a leading position in the semiconductor display field, technological innovation leads the industry development

In the first three quarters of 2024, BOE (BOE Oriental Technology Group Co., Ltd.) continued to consolidate its leading position in the semiconductor display field with its forward-looking global market layout. Not only did it maintain the world's leading patent application volume, but it also led the industry with its independently developed ADS Pro top technology. It also continued to make breakthroughs in the flexible AMOLED market, and achieved fruitful results in various technological innovations. According to data from market research firm Omdia, BOE's overall display shipments and LCD display shipments in five major mainstream application fields ranked first in the world. In terms of patents, BOE has accumulated more than 90,000 independent patent applications, of which more than 90% are invention patents and more than 30% are overseas patents, and its technology and product innovation capabilities have steadily improved. At the same time, BOE continues to demonstrate strong innovation capabilities and market influence. BOE's independently developed and unique top-tier technology in the field of LCD display, ADS Pro, is not only the mainstream LCD display technology with the highest shipment volume in the world, but also the most widely used hard-screen LCD display technology. With its outstanding performance in high ambient light contrast, no color shift at all viewing angles, high refresh rate and dynamic picture optimization, ADS Pro technology has become the first choice for customers' high-end flagship products, and its market shipments and customer adoption are far ahead, demonstrating the vigorous vitality of LCD display technology and greatly promoting the healthy development of the global display industry. In the field of flexible display, in the first three quarters of 2024, BOE's flexible AMOLED product shipments increased further. The Honor Magic6 series was equipped with BOE's first OLED low-power solution, opening a new era of flexible OLED low-power consumption, which won wide acclaim from the market and customers. The joint release of the new 2K+LTPO all-round high-end screen with OPPO and OnePlus customers marked another comprehensive technological innovation of flexible display. With significant improvements in picture quality, performance and eye protection, it once again defined the new industry standard for high-end flexible OLED screens. At the same time, BOE (BOE Technology Group Co., Ltd.) accelerated its AMOLED industry layout. The first domestic 8.6-generation AMOLED production line it invested in took only 183 days from start of construction to topping out. It set a new industry benchmark with its scientific, efficient and high-quality speed, and promoted the OLED display industry to quickly enter the medium-size development stage.

The “1+4+N” business layout has achieved remarkable results and created a diversified development pattern

While continuing to deepen its presence in the display industry, BOE has always adhered to innovative development. Its "1+4+N+Ecosystem" business has also shown new vitality under the empowerment of innovative technologies, and has achieved remarkable results in various market segments. BOE's IoT innovation business continues to develop rapidly in the two major areas of smart terminals and system solutions. In the field of smart terminals, BOE has officially released its "Smart GOAL" business goal, and is committed to building a one-stop, efficient, agile, green and low-carbon smart manufacturing system that integrates software and hardware, serves the world, and maintains the world's first place in shipments in market segments such as whiteboards, splicing, and electronic price tags (ESL) (data source: Dixian, Omdia, etc.); in the field of system solutions, BOE continues to deepen its presence in multiple IoT segment scenarios such as smart parks and smart finance, and actively expands new boundaries of human-computer interaction and collaboration. In the sensing business, BOE's light curtain technology and MEMS sensing technologies accelerate the empowerment of Chery Automobile and promote the intelligent transformation of automobiles; the first domestic group standard "Technical Specifications for Electronic Dye Liquid Crystal Dimming Glass for Passenger Vehicles" was released, and in the field of smart windows, the mass production and delivery of the dimming window of Zeekr's first standard model was exceeded, achieving a 200% increase in orders, opening a new chapter in the innovation and application of light curtain technology; at the same time, 6 strategic customers were introduced in the field of industrial sensors, and extensive cooperation will be carried out in project cooperation and product research and development in the future. In the MLED business, the BOE MLED Zhuhai project was fully launched, marking the company's further in-depth layout in the MLED field and laying a solid foundation for the expansion of the global MLED market. In terms of smart medical and engineering business, BOE has strengthened the integration of technology and medicine, opened up the entire chain of "prevention, treatment and nursing", and continuously promoted the intelligent upgrade of medical and health services. The Chengdu BOE Smart Medical and Nursing Community has officially been put into operation, innovating the medical and nursing integration model, and becoming an important milestone in BOE's layout in the field of smart medical and nursing; Hefei BOE Hospital has joined the Yangtze River Delta Alliance for Thoracic Tumors, and joined hands with high-quality expert resources to benefit local patients; BOE Health Research Institute has cooperated with Shanxi Cancer Hospital to carry out clinical research on NK cell therapy for bladder cancer, promoting medical technology innovation.

BOE also focuses on the "N" business to provide overall solutions integrating software and hardware for different industries, including smart car, digital art, AI+, ultra-high-definition display, smart energy and other sub-sectors, to create a new business growth curve. In the field of car, BOE continues to maintain the world's first shipment volume and shipment area of ​​car display screens (data source: Omdia), and its smart cockpit products are fully applied to major global mainstream automobile brands such as Changan Automobile, Geely Automobile, Weilai, and Ideal. In the field of digital art, Yiyun Technology has made new breakthroughs in naked-eye 3D display technology and other aspects. The naked-eye 3D screen debuted at the National Museum, and Yiyun Digital Art Center (Wangfujing) and Yiyun Digital Art Center (Yibin) officially opened. Innovative display technology has added luster to many fields. In the field of AI+, BOE has applied artificial intelligence technology products, services, and solutions to manufacturing, office, medical, retail and other segmented scenarios. Relying on the self-developed artificial intelligence platform and derivative technology set, it has created AI yield analysis systems, AI display knowledge question and answer systems, display industrial large models, etc., greatly improving production efficiency. In the field of ultra-high definition, BOE Zhonglian Ultra-HD has enabled the upgrade of Hefei High-tech Zone bus stations and Chengdu Shuangliu International Airport T1 Terminal through products such as 8K ultra-high-definition display technology, ultra-thin fully laminated electronic bus stops and outdoor LCD advertising screens, helping to significantly improve the level of intelligent transportation services. In terms of green development, BOE's energy business has accelerated the promotion of zero-carbon integrated energy services in multiple scenarios such as industry, commerce, and parks, and successfully implemented multiple energy trusteeship projects and carbon asset management projects, helping the society to achieve a carbon dioxide emission reduction of approximately 330,000 tons.