[年报]京东方Ｂ(200725):2023年年度报告（英文版）
原标题:京东方Ｂ:2023年年度报告（英文版） As time passes, we continue to innovate and achieve new milestones. The year 2023 marked a significant milestone for BOE as we celebrated our 30th anniversary in the industry. Our journey to this point has been fraught with challenges, yet our unwavering resolve and dedication have borne fruit, which can be seen in the significant developmental strides we have achieved. This past year, with its backdrop of complex global, political, and economic shifts, as well as ongoing adjustments in industrial structures, has presented us with a unique array of challenges. However, the resilience and tenacity of the BOE team have ensured the stability and incremental growth of our operations. Our operating revenue and net profit before exceptional gains and losses have shown consistent quarterly growth. Most notably, our net profit attributable to shareholders before exceptional gains and losses, surged by 71.74% year on year, giving us a more solid foundation for sustained, high-quality growth. Expanding markets and enhancing industry standing We maintained our global leadership in terms of both shipment volume and shipment area of LCD, and did so across five mainstream product categories. Our innovative IoT products in segments such as low power consumption, tiled display screens, and digital signage continued to dominate global shipments. A record-high milestone was reached with nearly 120 million flexible OLED units shipped annually, and this was complemented by the initiation of China's first 8.6G AMOLED production line, further affirming our technological leadership. Our transformational endeavours have also borne fruit across various sectors. Our smart finance sector expanded its strategic customer base, while our sensor and smart medical engineering sectors have both achieved significant year-on-year growth in operating revenue. Our strategic integration with HC SemiTek in the MLED sector has also refined our industrial layout. Moreover, Zhongxiangying has been recognized as a national "Little Giant" firm for being professional, sophisticated, distinctive and novel, and Energy Technology is listed among the nation's third list of smart photovoltaic pilot demonstration enterprises. Driving innovation to empower high-quality industrial development BOE has cumulatively filed applications for over 90,000 patents as of 2023, with inventions comprising over 90% of the past year's filings and international patents exceeding 33%. And we were named for the sixth consecutive year to the Global Top 20 of the U.S. granted patent ranking. The globally acclaimed display industry event SID 2023 marked our debut of world-class technologies and highlighted our capture of nine prestigious awards, further enhancing our presence in the industry through leading technological innovation. The BOE Global Innovation Partner Conference 2023, the biggest ever in our history, served as a professional platform for ecosystem construction and collaborative exchange, drew unprecedented participation from industry experts, ecosystem partners, and leading companies worldwide, and fueled further momentum for high-quality development within the industry. To maintain the technological edge, BOE has established key innovation platforms in semiconductor displays, IoT innovation, and sensor devices. Together with our partners, our collaborative efforts in the advancement of key technology are accelerating the IoT transformation. In particular, our IoT innovation platform is dedicated to exploring specialized application scenarios, while the sensor technology platform is zeroing in on cutting-edge optoelectronic and novel sensor technologies. These initiatives are designed to cultivate a more open advancement. Using mechanisms to improve scientific management and enhance efficiency In the past year, we refined our operational and management mechanisms even further. With the operational mechanism "three offices and three managements" that integrates “an agile front office, an intensive middle office, and an efficient back office” with “strategy, procedures and performance”, our "Platform + Battle Team" operational model has strengthened management’s responsibility, establishing a matrixed management style where “Battle Teams lead engagements while Platforms handle infrastructure”. This system ensures a customer-centric and business-oriented methodology, effectively marshalling resources and fostering the development of capabilities. This setup not only facilitates the sharing of platform resources and capabilities to leverage economies of scale, but also maximizes internal efficiency and collaboration, propelling continuous business growth. Being listed among world-class demonstration enterprises by the State-owned Assets Supervision and Administration Commission of the State Council in 2023 along with six other local enterprises is a testament to our past endeavours and achievements, as well as the faith in our potential for future excellence. Staying committed to green development and resolutely pursuing a path of low carbon emissions In 2023, BOE published the Towards Carbon Neutrality: BOE’s Low-Carbon Development Report, which pledged carbon neutrality in our display operations by 2050. As part of our daily operations + and management, we unswervingly adhere to the sustainable development principles of "Green , + Innovation , Community+." By coordinating green management initiatives, building green factories, establishing green supply chains, and developing green, low-carbon products, we are showing our commitment to implementing comprehensive green development practices. Meanwhile, we are also aiming to share our low-carbon development experiences with our industry partners through a replicable and referential decarbonization blueprint, one that is designed to aid the industry's transition towards green development. As we forge ahead, BOE remains dedicated to leading by example in terms of making low-carbon commitments, endeavouring to safeguard our planet and create a better future for the world. Looking back at our 30-year journey, BOE has played a pivotal role in leading China's semiconductor display industry from its nascent stages to global prominence. Looking forward, we are poised to continue this trajectory of excellence, creating a brighter future for the industry and society at large. We are also committed to doubling down on our strategy of "Empower IoT with Display", joining forces with numerous ecosystem partners as we embark on another 30-year journey of brilliance in the IoT era! We deeply appreciate the unwavering trust and support of our shareholders throughout. As we embark on the next 30 years and continue taking steps towards realizing BOE's grand vision, we also look forward to your continued partnership in “Building a World-class Company and Embracing a Better Future”! Part I Important Notes, Table of Contents and Definitions The Board of Directors (or the “Board”), the Supervisory Committee as well as the directors, supervisors and senior management of BOE Technology Group Co., Ltd. (hereinafter referred to as the “Company”) hereby guarantee the factuality, accuracy and completeness of the contents of this Report and its summary, and shall be jointly and severally liable for any misrepresentations, misleading statements or material omissions therein. Mr. Chen Yanshun, the Company’s legal representative, Mr. Gao Wenbao, President, Ms. Yang Xiaoping, Chief Financial Officer, and Mr. Teng Jiao, head of the financial department (equivalent to financial manager) hereby guarantee that the Financial Statements carried in this Report are factual, accurate and complete. All the Company’s directors have attended the Board meeting for the review of this Report and its summary. Any plans for the future and other forward-looking statements mentioned in this Report shall NOT be considered as absolute promises of the Company to investors. Investors, among others, shall be sufficiently aware of the risk and shall differentiate between plans and forecasts and promises. The Board has approved a final dividend plan for the Reporting Period. Based on 37,652,529,195 shares, a cash dividend of RMB0.3 (tax inclusive) per 10 shares is to be distributed to all the shareholders, with no bonus issue from either profit or capital reserves. This Report and its summary have been prepared in Chinese and translated into English. Should there be any discrepancies or misunderstandings between the two versions, the Chinese versions shall prevail. Table of Contents Message to Our Shareholders ........................................................................................................... 1 Part I Important Notes, Table of Contents and Definitions ........................................................... 3 Part II Corporate Information and Key Financial Information ................................................... 9 Part III Management Discussion and Analysis ............................................................................. 14 Part IV Corporate Governance ...................................................................................................... 50 Part V Environmental and Social Responsibility .......................................................................... 83 Part VI Significant Events ............................................................................................................... 91 Part VII Share Changes and Shareholder Information ............................................................. 108 Part VIII Preferred Shares ............................................................................................................ 118 Part IX Bonds ................................................................................................................................. 119 Part X Financial Statements ......................................................................................................... 122 Documents Available for Reference (I) The financial statements signed and sealed by the Company’s legal representative, President, Chief Financial Officer and head of the financial department (equivalent to financial manager); (II) The original of the Independent Auditor’s Report sealed by the CPA firm and signed and sealed by the certified public accountants; (III) The originals of all the documents and announcements that the Company disclosed on www.cninfo.com.cn during the Reporting Period; and (IV) This Report disclosed in other securities markets. All the above mentioned documents are available at the Board Secretary’s Office of the Company. Chairman of the Board (signature): Mr. Chen Yanshun Date of the Board’s approval of this Report: 29 March 2024 Definitions
Part II Corporate Information and Key Financial Information I Corporate Information
The independent audit firm hired by the Company:
□ Applicable ? Not applicable The independent financial advisor hired by the Company to exercise constant supervision over the Company in the Reporting Period: □ Applicable ? Not applicable VI Key Financial Information Indicate by tick mark whether there is any retrospectively restated datum in the table below. ? Yes □ No Reason for retrospective restatement: Change of accounting policy.
Finance, the Group has retrospectively restated relevant financial statement items at the beginning of the year and in the same period of last year. The said changes of accounting policies have no significant impact on the Company’s financial condition and operating results. Indicate by tick mark whether the lower of the net profit attributable to the listed company’s shareholders before and after exceptional gains and losses was negative for the last three accounting years, and the latest independent auditor’s report indicated that there was uncertainty about the Company’s ability to continue as a going concern. □ Yes ? No Indicate by tick mark whether the lower of the net profit attributable to the listed company’s shareholders before and after exceptional gains and losses was negative. ? Yes □ No
1. Net Profit and Equity under CAS and IFRS □ Applicable ? Not applicable No difference for the Reporting Period. 2. Net Profit and Equity under CAS and Foreign Accounting Standards □ Applicable ? Not applicable No difference for the Reporting Period. VIII Key Financial Information by Quarter Unit: RMB
have been disclosed in the Company’s quarterly or interim reports. □ Yes ? No IX Exceptional Gains and Losses ? Applicable □ Not applicable Unit: RMB
No such cases for the Reporting Period. Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item listed in the Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Gain/Loss Items: □ Applicable ? Not applicable No such cases for the Reporting Period. Part III Management Discussion and Analysis I Industry Overview for the Reporting Period Looking back in 2023, the global geopolitical landscape was fraught with tension, the industrial chain underwent accelerated restructuring, and the broader consumer market exhibited sluggish performance. The semiconductor display industry consistently unleashed its supply-side capacity, while the tepid recovery in end-user demand led to a more cautious procurement stance among panel buyers. Consequently, the industry operated under considerable strain. Despite the challenges, ample opportunities persist. Today, semiconductor displays fuel a multitude of industries, and the seamless integration within the Internet of Everything's ecosystem drives the swift evolution of demand-side scenarios. This spans across intelligent screens, industrial sensors, automotive electronics, and various consumer terminals. Bolstered by ongoing innovations and breakthroughs in UHD, ultra-high-refresh, flexible OLED, Mini/MicroLED, and other advanced display technologies, these advancements continually boost the performance of terminals. Notably, vehicle-mounted and foldable screen applications have experienced a surge in growth and development. The accelerated digital transformation has unleashed fresh business prospects. Semiconductor display technology, when fused with artificial intelligence, the Internet of Things, and other cutting-edge innovations, significantly propels the burgeoning growth of markets for industrial IoT, Intelligent Car Networking, smart finance, smart industrial parks, smart energy and other IoT application industries. Concurrently, the nation is steadfastly advancing the Healthy China initiative, fostering and endorsing health tech innovations, and expediting the establishment of a health service system featuring the integration of prevention and treatment and the integration of medicine and health care. This strategic move offers expansive development potential for the medical and health sectors, invigorating the expanding medical services market encompassing medical engineering, recreational communities, and health IoT solutions. II Principal Operations of the Company in the Reporting Period (I) About the Company In constant pursuit of excellence, BOE Technology Group Co., Ltd. is an innovative IoT company dedicated to providing intelligent interface products and professional services for information interaction and human health. With the vision “To Be the Most Respected Company on Earth”, and upholding the values of integrity & reliability, dedication to customers, being people-oriented, openness and innovation, as well as the business philosophy of doing the right thing, innovation and progress seeking, BOE has been forging ahead through innovation. Upon three decades of development in the industry, BOE has grown into a world leader in the semiconductor display industry and an innovative company in the IoT sector. At present, it has a significant number of intelligent manufacturing bases in Beijing, Hefei, Chengdu, Chongqing, Fuzhou, Mianyang, Wuhan, Kunming, Ordos, etc., with subsidiaries in the United States, Germany, Japan, South Korea, Singapore, India, Vietnam, Mexico, Brazil, the United Arab （未完）  |