BOE Technology Group Company (000725) H1 2024 earnings summary

Executive summary

• Achieved strong financial recovery in H1 2024, with significant year-over-year growth in revenue and net profit.

• Maintained global leadership in LCD shipments and expanded flexible OLED shipments by over 25% year-over-year.

• Continued high R&D investment, technological innovation, and global expansion, with new projects and product launches.

Financial highlights

• Operating revenue rose 16.47% year-over-year to RMB 93.39 billion in H1 2024.

• Net profit attributable to shareholders surged 210.41% year-over-year to RMB 2.28 billion.

• Net profit before exceptional gains and losses was RMB 1.61 billion, compared to a loss of RMB 1.58 billion in H1 2023.

• Basic and diluted EPS both increased to RMB 0.06, up from RMB 0.02 year-over-year.

• Net cash from operating activities increased 53.16% year-over-year to RMB 24.88 billion.

Outlook and guidance

• Focus on “Empower IoT with Display” strategy and “1+4+N+Ecosystem” business model for diversified growth.

• Continued prioritization of R&D, innovation, and global market expansion.

• No interim dividend planned for H1 2024.