BOE Technology Group achieves record profit growth in 2024

BOE Technology Group (SZSE:000725) reported a significant surge in profits for 2024, driven by its "Screen of Things" (SoT) strategy and favorable market dynamics. The company's annual revenue reached CNY 198.38 billion, a 13.66% increase compared to the previous year. Operating profit soared by 224.67% to CNY 4.93 billion, and net profit attributable to shareholders jumped by 108.97% to CNY 5.32 billion. The company’s basic earnings per share increased by 133.33% to CNY 0.14. This growth was fueled by strategic initiatives in LCD and flexible AMOLED technologies, coupled with strong demand in key application areas such as TVs and mobile devices. The company maintains its leading position in global shipments for key product categories, especially extra-large displays. BOE expects this positive momentum to continue into the first quarter of 2025, with a projected net profit increase of 63%-68% year-over-year, reaching between CNY 1.6 billion and CNY 1.65 billion. This performance underscores BOE's ability to capitalize on market opportunities and drive innovation in the semiconductor display industry.