BOE's net profit in 2020 is expected to be 4.8 billion yuan to 5.1 billion yuan, a year-on-year increase of 150% to 166%.

On January 29, BOE released its 2020 annual performance forecast, which pointed out that BOE's net profit in 2020 was 4.8 billion yuan to 5.1 billion yuan, a year-on-year increase of 150% to 166%; non-net profit was 2.5 billion yuan to 2.8 billion yuan.

The announcement also pointed out that BOE's performance surge in 2020 was mainly due to the following reasons:

The global spread of the COVID-19 pandemic has had an impact on the raw material supply and logistics issues in the semiconductor display industry chain. Faced with severe operational challenges, BOE has promptly adjusted its internal strategies and optimized its product structure. Sales of some products have increased significantly, and its full-year revenue has grown steadily compared to the previous year.

The semiconductor display industry is more prosperous than the same period last year, especially the demand for IT and TV products has rebounded significantly, and product prices have continued to rise since mid-2020. BOE's operating performance has increased significantly compared with the same period last year.

BOE's flexible AMOLED product shipments have increased significantly compared to 2019, but as the production line is still in the ramp-up period, the new depreciation is under short-term pressure. As shipments continue to increase, the company's overall competitiveness is expected to be further enhanced in the future.

Since the beginning of 2020, BOE has adhered to the direction of IoT transformation, actively seized development opportunities, strengthened risk warning, and achieved rapid development in many fields such as semiconductor display business, MiniLED, sensors and solutions, smart system innovation and creation, and smart medical and engineering business. The IoT transformation strategy has been steadily advancing.