BOE Technology Group Company (000725) H2 2025 earnings summary

Executive summary

• Achieved record operating revenue of RMB204.59 billion in 2025, up 3.13% year-over-year, with net profit attributable to shareholders rising 10.03% to RMB5.86 billion.

• Maintained global No. 1 shipment volume in five major LCD applications and automotive displays; flexible OLED shipments continued to grow.

• Innovation-driven businesses and new projects, including mass production at new Beijing and Vietnam lines, contributed to growth.

• Launched industry’s first sustainability brand “ONE” and all 18 display lines recognized as National Green Factories.

• Distributed RMB1.87 billion in cash dividends for 2024 (35% payout ratio), repurchased over RMB1.5 billion in A-shares, and cancelled ~RMB1 billion in treasury shares.

Financial highlights

• Operating revenue: RMB204.59 billion, up 3.13% year-over-year.

• Net profit attributable to shareholders: RMB5.86 billion, up 10.03% year-over-year.

• Gross margin: 15.64%, up 0.44 percentage points year-over-year.

• Basic and diluted EPS: RMB0.16, up from RMB0.14 in 2024.

• Net cash from operating activities: RMB48.82 billion, up 2.28% year-over-year.

• R&D investment: RMB13.98 billion, 6.83% of revenue.

Outlook and guidance

• Will continue to optimize product structure in LCD, expand OLED in IT and automotive, and accelerate IoT integration.

• Focus on digital transformation, AI+ strategy, and global expansion to reinforce industry leadership.

• Committed to sustainable development, targeting synergy between corporate growth, environmental, and social value.

• Shareholder return plan for 2025–2027: annual cash dividend ≥35% of net profit, annual share repurchase ≥RMB1.5 billion.