BOE(000725)2025-01-24 01:20Financial Performance - In 2024, the company expects a net profit attributable to shareholders of between 5.2 billion and 5.5 billion CNY, doubling year-on-year [1] - The estimated net profit for Q4 2024 is approximately 1.9 billion to 2.2 billion CNY, showing significant year-on-year growth and nearly doubling quarter-on-quarter [1][2] Market Dynamics - The demand for LCD TV products surged due to the "old-for-new" policy in mainland China and promotional activities in overseas markets, leading to increased shipment volumes and a rise in product prices [2][3] - The LCD industry’s operating rate was above 80% in December 2024, recovering from a low in October [3] Product Development - The company shipped over 40 million flexible AMOLED panels in Q4 2024, with a significant improvement in product structure and a 40% increase in foldable product shipments [2][4][5] - In 2024, the total shipment of flexible AMOLED panels reached approximately 140 million, with a notable increase in high-end product ratios [4] Depreciation and Capital Expenditure - The overall depreciation in 2024 is expected to slightly increase due to new production lines and the expiration of mature lines [6] - Future capital expenditures will focus on semiconductor display business and strategic areas such as IoT innovation, MLED, and smart medical technology [7] New Business Initiatives - The company is actively developing perovskite solar cells, achieving a sample with an industry-leading conversion efficiency [8][9] - The "AI+" strategy has been launched to enhance production efficiency and innovation across various business areas [9] Shareholder Returns - From 2015 to 2023, the company has implemented cash dividends totaling over 20 billion CNY, maintaining a payout ratio of over 30% of net profit [10] - The company has repurchased shares amounting to over 4.6 billion CNY in A-shares and nearly 1 billion HKD in B-shares from 2020 to 2022 [10]