Gelonghui, April 11 | BOE A (000725.SZ) announced its results forecast for the first quarter of 2024. Net profit attributable to shareholders of listed companies during the reporting period was 80 million yuan to 100,000 yuan, an increase of 223%-304% over the same period of the previous year; net profit after deducting non-recurring profit and loss of 460 million yuan to 66,000 yuan, loss of 166.7.93 million yuan for the same period last year; basic earnings per share was about 0.021 yuan/share — 0.026 yuan/share.
During the reporting period, although the semiconductor display industry was in a traditional low season, thanks to a good supply pattern and the early release of downstream demand, the industry's boom picked up significantly after the Spring Festival. In the first quarter of 2024, revenue, net profit attributable to shareholders of listed companies, and net profit after deducting non-recurring profit and loss all increased year-on-year.
On the LCD side, the demand side is affected by sporting event stocking demand and high price increases expectations, and end customer orders are released early. The supply side has always adhered to the “on-demand production” strategy. February was affected by the Spring Festival and New Year holidays, and the operating rate remained low; in March, boosted by the release of orders, the operating rate increased rapidly. In terms of product prices, the prices of TV products have been rising across the board since February, and the increase in March showed an expanding trend; the upward trend in IT product prices has begun to show initial signs. The company gives full play to its technical and production capacity advantages to enhance product value through innovation and promote the healthy development of the industry.
In terms of OLEDs, the company's flexible AMOLED product shipments reached a record high in 2023. Shipments continued to increase year-on-year in the first quarter of 2024. The annual shipment target for 2024 is expected to be 160 million pieces, an increase of more than 30% over the previous year. The company continues to push for flexible AMOLED high-end demand, and it has a clear competitive advantage, especially in high-end products represented by folding. The company's AMOLED business is still facing significant depreciation pressure in the short term. With the further increase in shipments and the further development of high-end products, the profitability of mature production lines is expected to continue to improve.