BOE expects net profit in the first quarter of this year to be 800 million-1 billion yuan, a year-on-year increase of 223%-304%

According to news from this site on April 11, BOE Technology Group Co., Ltd. today released the first quarter forecast for 2024. It is expected that the net profit in the first quarter will be 800 million yuan to 1 billion yuan, a year-on-year increase of 223% to 304%.

In terms of LCD, TV product prices have increased across the board since February, and the increase showed an expanding trend in March; IT product prices have begun to rebound.

In terms of OLED, the company's flexible AMOLED product shipments hit a new high in a single year in 2023. Shipments in the first quarter of 2024 will still maintain year-on-year growth, and the annual shipment target for 2024 is expected to be 160 million pieces. A year-on-year increase of over 30%. The company's AMOLED business is still facing greater 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.

This website previously reported that BOE’s survey minutes earlier this month showed that the company’s flexible AMOLED shipments have maintained substantial growth in recent years. In 2023, flexible AMOLED Shipments for the whole year were nearly 120 million pieces, a year-on-year increase of nearly 50%, setting a new high for single-year shipments. BOE Fangfang also stated that the shipment volume of folding and LTPO products in the mobile phone market will increase rapidly in 2023, with LTPO products becoming the mainstream choice for high-end flagship mobile phones; the company's flexible AMOLED products have strong competition in high-end flagship mobile phone products such as folding and LTPO Advantages and shipments are at the forefront of the industry.

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"BOE: Flexible AMOLED shipment target this year exceeds 160 million pieces"

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