On August 27, 2018, BOE Technology Group Co., Ltd. (BOE) (BOE A Share: 000725; BOE B Share: 200725) released its semi-annual financial report, with revenue of RMB43.474 billion. Net profits to shareholders totaled RMB2.975 billion.

“In the first half of 2018, the global LCD panel market was sluggish. The large-size panel markets such as TV panels were not as good as expected, and the growth of the average size and area of shipped panels slowed down. With the arrival of the peak sales season in the second half of 2018, the demand for large-size panels will resume growing, and the global panel market will pick up.” An analyst with Sigmaintell Consulting said. Although the market environment has challenged manufacturers, BOE has further optimized its product structure. With the mass production of Hefei's Gen 10.5 TFT-LCD production line, the proportion of large-size UHD display shipment has increased significantly. BOE has started its 8K cooperation with multiple color TV brands. Meanwhile, flexible display products mass-produced by Chengdu's Gen 6 flexible AMOLED production line have been applied to famous world brands.

According to IHS, a global market-research institute, BOE ranked first in the world in shipments of panels for smart phone, tablet, notebook, monitor and TV in the first half of 2018.

Also, BOE offers integrated IoT solutions in the fields of smart retail, digital art, smart transport, smart home and smart healthcare. BOE has taken advantage of the online-offline integration of the new retail industry to provide smart retail IoT solutions for more than 15,000 stores in more than 55 countries around the world. The sales volume of BOE iGallery, a digital art IoT product, increased by 170% month on month, the new users of BOE iGallery have achieved an increase of 35,000 and the volume of artwork transactions has grownfive-fold. Regarding healthcare services, BOE’s mobile healthcare products and services have provided users with personalized treatment and health management schemes. Hefei Digital Hospital will provide efficient and high-quality healthcare services for online and offline users in the second half of the year.

Liu Hongfeng, BOE’s Vice President and Secretary to Chairman, said, “With the further transformation of IoT, BOE has been speeding up the development of Display and Sensor Devices, Smart Systems and Healthcare Services. The market will be further recovered in the second half of the year, which also provides a good external environment for the development of the industry. It is expected that BOE’s annual revenue will stabilize at a higher level and its global market position will be further enhanced.”

BOE Yields Revenue of RMB43.474 billion in 1st H 2018