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>> The market value of the first half of the year evaporated 80 billion. BOE actively deployed OLED panels to improve profitability. 13th,Sep,2018
Over the years, in the face of the "lack of core and less screen" dilemma, a large number of Chinese local companies have been working hard to change this situation and actively develop the panel industry. As a difficult-to-growth panel company, BOE has grown into a company with a loss in the years of production, production line and technology level in China's semiconductor display industry after years of mad investment in black hole.
BOE can be said to have achieved its own leap-forward development, which should have entered the performance of the flowering results. However, due to the low supply level of panel supply in the first half of this year, the price has dropped significantly compared with the same period of last year. In the first half of this year, BOE's net profit decreased by 30% year-on-year. Not only that, its market value evaporated more than 80 billion yuan in 8 months. .
Net profit for the first half of the year decreased by 30.85% year-on-year.
On August 28, BOE released its 2018 semi-annual performance report. The report shows that in the first half of this year, BOE realized revenue of 43.474 billion yuan, down 2.54% year-on-year; net profit attributable to shareholders of listed companies was 29.75. 100 million yuan, down 30.85% year-on-year; net profit after deduction was 979 million, a year-on-year drop of 75.64%.
The market value of the first half of the year evaporated 80 billion. BOE actively deployed OLED panels to improve profitability.
Specifically, BOE's operating income of 43.474 billion yuan in the first half of the year was mainly from display and sensor parts, IoT smart systems, and smart health services. Among them, the revenue from display and sensor parts business was approximately 39.169 billion yuan, accounting for more than 90% of total revenue. However, the revenue of this business decreased by 5.15% year-on-year, while the gross profit margin of the business in the first half of the year was 17.92%, down 10.22 percentage points year-on-year.
Regarding the “falling cliff” decline in profits, BOE stated that the overall growth of the panel market was lower than expected, oversupply, and market prices all the way down. BOE believes that the five mainstream display panel markets, such as monitors, tablets, notebook computers, smart phones and color TVs, are basically saturated and have limited growth space.
In addition, due to the decline in performance, in the two trading days after the release of the earnings report, BOE shares fell 2.98% and 4.47%. As of September 5, 2018, the total market value was about 115.5 billion yuan. At the beginning of 2018, BOE A's total market value was 200 billion yuan, and its market value in the past eight months evaporated by more than 80 billion yuan. The stock price fell more than 40%.
It is reported that BOE's share price fluctuates greatly. There are two main reasons: First, since the second half of last year, the TFT-LCD market has experienced large price fluctuations, and the prices of major products have fallen, which has affected the company's revenue and profits. The impact of the environment, the global capital market, especially China's capital market, has a relatively large decline.
In addition, in addition to oversupply of panels, supply prices have fallen significantly compared to the same period last year. Since the beginning of this year, the color TV market has continued to slump, and sales have even declined slightly. The demand for upstream panels is not strong, and it has also set a huge test for panel companies' revenue.
In fact, the sharp fall in profits is not a dilemma faced by a BOE company. Due to the influence of the panel industry cycle, the performance of Huaxing Optoelectronics, another large panel company in China, also showed a downward trend in the first half of the year.
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