BOE’s market share rises, with profit up 87/100

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BOE’s market share rises, with profit up 87/100
Publish time:2015-08-25

BOE Technology Group Co., Ltd. (BOE) (BOE A Share: 000725; BOE B Share: 200725), one of the world’s leading providers of semiconductor display products and solutions, released the financial report on the first half of 2015 on August 24, posting continued increase in profits and a revenue of RMB 22.97 billion, up 42.6% year on year. Net profits attributable to shareholders totaled RMB 1.95 billion, a year-on-year growth of 87.3%, and net profits after extraordinary items amounted to RMB 1.58 billion, up 186.5% year on year.

Despite the fierce market competition and downward trend of the display industry in the first half of 2015, BOE scored remarkable results in display devices through flexibly adjusting production lines and optimizing product mix, ranking No. 1 in the world by shipments of panels for mobile phones and tablets and No. 4 by shipments of TV panels. Through continued innovations in products and technologies, BOE has consolidated its leadership in UHD display technology, and globally launched high-value-added products including 110-inch 8K displays, 82-inch 10K displays and 4.7-inch UHD panels with a pixel density of 941 PPI, expanding the applications of display products in such fields as wearable devices, automobiles, smart homes, and healthcare. As of June 30, 2015, BOE held more than 32,000 patents, and filed 3,250 new patent applications in the first half of 2015.

While consolidating its leadership in the display industry, BOE has also sought greater development in smart systems and smart healthcare services in a move to create the new sources of growth. It has launched the smart business platform and new-concept display terminal BOE Alta, and made active efforts in smart healthcare service, setting the direction for the shift towards a service provider. It acquired OASIS International Hospital, signed an MOU on cooperation with Dignity Health of the United States, and collaborated with IBM on big data to beef up its strength in healthcare.

In addition, BOE plans to spend RMB 1.5 billion initiating the Integrated Circuit Fund to invest in display-related integrated circuit fields, so as to strengthen its core competitiveness in the upstream and downstream segments. According to BOE Chairman Wang Dongsheng, BOE will continue focusing on the display technology, smart technology, sensor technology and IT application technology, extend from display products to smart systems and smart healthcare service to diversify the sources of profit, and comprehensively implement the new DSH strategy (Display, Smart systems, and Healthcare) for the fusion of software and hardware, integration of applications, and the shift towards a service provider.