BOE (BOE) releases 2023 semi-annual report, excluding non-single quarter net profit increased by 105% month-on-month

On August 29, BOE Technology Group Co., Ltd. (BOE A: 000725; BOE B: 200725) released its 2023 semi-annual report. In the first half of 2023, it achieved operating income of 80.178 billion yuan and a net profit attributable to shareholders of the listed company of 736 million yuan. Yuan. In the first half of 2023, BOE (BOE) maintained stable operations, and its profits have improved quarter by quarter since 2023. In the second quarter, the net profit after non-recurring gains and losses attributable to shareholders of listed companies increased by 105% quarter-on-quarter, and its performance continued to improve.

Since 2023, the market's overall consumer demand has gradually recovered, and the semiconductor display industry has shown an upward trend as a whole. In the first half of 2023, BOE (BOE) has firmly maintained its leading position in the semiconductor display field. Omdia data shows that BOE LCD display shipments continue to rank first in the world in five major application segments. In May 2023, BOE will debut at SID with a number of world-first new technology products empowered by the three major display technology brands of ADS Pro, f-OLED, and α-MLED, as well as cutting-edge innovative applications such as smart vehicles, naked-eye 3D, and Metaverse. International Display Week demonstrates technological leadership in the display field. In the OLED field, in the first half of 2023, BOE (BOE) will provide flexible OLED displays equipped with BOE (BOE) ultra-high frequency PWM dimming technology for Honor Magic5 series, Honor Magic Vs series, vivo X Flip, iQOO Neo8 series, and vivo S17 series products. screen, with both low power consumption and eye protection functions. Flexible AMOLED shipments exceeded 50 million units in the first half of the year, a year-on-year increase of nearly 80%. BOE also continues to promote the construction of e-sports display and vehicle-mounted display ecology. In the first half of the year, it joined hands with JD.com to establish the Best of Esports high-level e-sports alliance, including Intel, Dianhun Network, Huya Live, JDG Club, AGON, Hisense, Savior, and Machinery Many global first-tier brands such as BMW, Red Devils, ROG, Skyworth, Raytheon, and vivo have joined; in the first half of the year, BOE (BOE) joined hands with BYD, BAIC, Changan, GAC, Geely, Ideal, Chery, SAIC, NIO, Xpeng, FAW, etc. Domestic and foreign first-tier automobile brands appeared at the Shanghai Auto Show, explaining the development of large-screen, high-definition, intelligent and low-carbon smart cockpits in the automobile industry.

BOE's IoT innovation business under the "1+4+N+ ecological chain" development structure has made great progress, and the results of IoT transformation have continued to show. In the field of smart terminals, tablet computer terminals have achieved multiple business breakthroughs through self-research, self-purchasing, and self-production through innovative ODM models, and supplied new products to achieve breakthroughs in new E-Ink categories for customers. More than 10 3D display products released by 3D terminals cover full sizes from 7.9 to 110 inches, covering categories such as tablets, electronic photo frames, and all-in-one computers. Among them, the 7.9-inch electronic photo frame and Chinese original IP company ToyCity jointly appeared at the QTX Fashion Show. IoT terminals have joined hands with leading projector brands Weiguo and Cookaa to create new projector products, achieving a comprehensive breakthrough in the quality of LCD projectors, and successfully introduced overseas leading brand customers in the digital signage and whiteboard fields. In addition, BOE has made breakthroughs in TV terminals, display terminals, notebook computer terminals, low-power consumption and other products. In the field of system solutions, BOE will provide smart park solutions for Qingdao Mangrove Park and provide the park with a digital management platform with “visible status, manageable business, and controllable events”. In terms of smart finance, as of the first half of 2023, BOE's smart financial solutions cover more than 3,200 bank outlets, and the number of terminals connected to the smart outlet comprehensive management platform exceeds 12,000. In terms of brand products, BOE Cloud Smart Splicing Screen is launched, integrating leading AIoT technology, equipped with BOE (BOE) information release system and customized dual-mode operating system, optimizing traditional splicing methods to help increase the value of catering, beauty, shopping malls and other scenes.

In terms of sensing business, BOE's medical imaging revenue doubled year-on-year in the first half of 2023. It has made remarkable achievements in developing overseas markets. It has in-depth cooperation with European and American leading customers and completed the project of its first customized dynamic backplane product. In terms of smart windows, it has achieved independent operation and achieved innovative breakthroughs in business models, including 3 new pre-installation designated customers in the passenger car field. In terms of industrial sensors, more than 20 self-developed photoelectric sensors have been delivered to mass production, and the first optical fiber color sensor has been delivered to mass production, with industry-leading product specifications.

In terms of MLED business, in the field of direct display, BOE continues to expand overseas markets such as Europe, South America, Asia-Pacific, and the Middle East and achieve order placement. COG LTPS P0.5 MLED products made their debut at SID International Display Week; the full range of COB P0.9-1.5 products achieved multiple project implementations; in the field of backlight, BOE (BOE) and Skyworth launched the industry's first 31.5-inch active screen that supports high brush Skyworth D80, a professional glass-based Mini LED professional display, has also continued to be shipped stably in notebook computers, vehicles and other fields. It exclusively supplies Mini LED displays for ASUS ROG Magic 16 Star Edition and flip version notebook computers, and is the first dual-mode Mini LED display. The screen empowers the Razer Blade 16 gaming laptop.

In terms of smart medical business, the influenza A/B virus nucleic acid joint detection kit (fluorescence PCR) independently developed and produced by BOE (BOE) has obtained the registration certificate from the National Medical Products Administration (NMPA), which plays an important role in promoting laboratory medicine; As of the end of June, BOE has provided gastrointestinal cancer methylation, lung cancer, cardiovascular and cerebrovascular early detection services to nearly 150,000 people; health technology has launched its first healthy city project, and signed a letter of intent to cooperate with the Ziyang Municipal People's Government to join forces Promote the high-quality development of Ziyang City's medical and health care industry; the Internet of Things Hospital focuses on the needs of the "old and young" group and launches specialized full-course product services such as comprehensive myopia prevention and control therapy for adolescents. As of the end of June 2023, it has served more than 30,000 customers. ; Exclusive healthcare’s VIP customer service volume increased by nearly 400% year-on-year in the first half of 2023; In the first half of 2023, the total outpatient volume of BOE’s digital hospitals located in Beijing, Hefei, Chengdu, Suzhou and other places increased by more than 63% year-on-year, and the total discharge volume increased by more than 63% year-on-year A year-on-year increase of over 97%.

At the same time, the "N" business in BOE's "1+4+N+ ecological chain" business structure is showing a flourishing development trend. Beijing Zhongxiangying, a subsidiary of BOE (BOE), is responsible for 18 projects including display devices, sensors, and Internet of Things equipment. The construction and operation of the "Industrial Internet Logo Analysis Secondary Node" in key national industries will be licensed by the Industrial Internet Logo Registration Service Agency in the first half of 2023; its subsidiary BOE Precision will continue its leading position in the automotive display market in the first half of 2023, making appearances at CES, SID, etc. International exhibition, bringing large-size oxide automotive products to the market for the first time; Suzhou Bay Digital Art Museum, the first full-scenario digital art museum built by its subsidiary BOE Art Cloud, has been put into operation, integrating digital art exhibitions, industry alliance bases, and innovative achievements It integrates functions such as an exhibition center and youth science popularization base; in the first half of the year, its subsidiary Zoomlion Super HD completed the "Pearl of the Yangtze River" renovation of the Yibin Three Rivers and Six Banks lighting project, and the "Mianyang Window" city giant screen and other benchmark projects. At the same time, 8K live broadcast services have been launched rapidly, and 6 8K live broadcast/recording events have been completed, including IPC2023 and 2023 Yizhuang Tongming Lake Half Marathon; its smart energy subsidiary focuses on zero-carbon comprehensive energy services, with 650MW of self-owned power stations and development of 4 million carbon sinks. mu, the annual carbon dioxide emission reduction is approximately 1.1 million tons/year, helping upstream and downstream carbon compliance.

BOE has always practiced the sustainable development concepts of Green+, Innovation+, and Community+, and built an industrial value innovation ecosystem "Powered by BOE". Continuously improve the environmental management system and green operations of the entire process, and efficiently utilize resources and energy. On June 28, it released the "Road to Carbon Neutrality: BOE Display Low-Carbon Development Report", disclosing display low-carbon development goals for the first time and promising to achieve carbon neutrality in its own operations by 2050.