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In 2019, BOE's net profit attributable to shareholders of the parent company was RMB 1,918,643,871, and it appropriated statutory surplus reserves of RMB 368,556,446. After deducting the accumulated interest of perpetual bonds issued at the end of the year of RMB 56,109,589, the company realized distributable profits of RMB 1,493,977,836 for the year. The company's board of directors plans to distribute profits in 2019 at the rate of RMB 0.2 per 10 shares. The following is an excerpt from the original announcement: 2019 Annual Report I. Main accounting data and financial indicators II. Main business of the company during the reporting period Founded in April 1993, BOE Technology Group Co., Ltd. (BOE) is an Internet of Things company that provides smart terminal products and professional services for information interaction and human health. In 2019, BOE continued to adhere to the Internet of Things transformation strategy, continuously strengthened the construction of transformation and development capabilities, explored the needs of Internet of Things application scenarios, created competitive advantages in professional market segments, continued to strengthen marketing, technology and system capabilities, and deeply promoted the rapid development of the three major business sectors of terminal devices (D), smart Internet of Things (S), and smart medical engineering (H): The terminal device business segment includes two business groups: display and sensor devices and sensors and solutions. The display and sensor device business group is a B2B device integration design and manufacturing model. The display device business is committed to providing smart terminal devices in the fields of TFT-LCD, AMOLED, Microdisplay, etc., providing customers with display device products used in mobile phones, tablets, laptops, monitors, TVs, vehicles, electronic signs, splicing, industrial control, wearables, VR/AR, electronic tags, white goods, medical, mobile payments, interactive whiteboards and other products. The sensor device business focuses on hospital testing, home testing, communications and transportation, smart homes and other fields, providing customers with integrated design and manufacturing services for sensor devices; the sensor and solution business group is a B2B system solution design integration model, providing sensor system solutions for medical imaging, biological testing, smart windows, microwave communications, fingerprint recognition, industrial control and other fields. Products include X-ray flat panel detectors, digital microfluidic chips, dimming glass, fingerprint recognition systems, etc. (2) Smart Internet of Things (S) The Smart Internet of Things business segment includes three business groups: smart manufacturing services, IoT solutions and digital art. The Smart Manufacturing Services business group is a B2B whole machine integrated design and manufacturing model, providing global partners with the most competitive TV, display, electronic blackboard, electronic signage, commercial display, electronic label, self-service and mobile terminal and other whole machine intelligent manufacturing services; the IoT Solutions business group uses artificial intelligence and big data as supporting technologies, focuses on the market segments, and provides customers with overall solutions for IoT segments such as smart finance, digital hospital, business office, smart home, smart transportation, smart politics and education, and smart energy, empowering the industry; the Digital Art Business Group is an IoT platform model, relying on paper display, digital art cloud platform and artificial intelligence and other technical achievements, through cooperation with art institutions and art creators, to provide users with art appreciation, art encyclopedia popularization, picture book reading, photo sharing, art mall, visual aesthetics appreciation and other content products and services. (3) Smart Medical Engineering (H) The smart medical engineering business segment includes two business groups: mobile health and health services. The mobile health business group is a medical health IoT platform model, with businesses covering biochips, mobile testing equipment and solutions, App products and services, ecological chain products and other fields. It is people-centered, focusing on family, community and hospital scenarios, providing mobile health terminal products and services, and creating a "three-end collaborative linkage" medical health IoT platform; the health service business group is a B2C professional service model, with businesses covering digital hospitals, digital human bodies, regenerative medicine, health parks and other fields. With digital medical services as the core, smart health care, overall solutions for healthy communities, industrial park operation management and other services as extensions, it provides customers with professional health care services that integrate online and offline. III. Operating income composition 4. Discussion and analysis of business performance 1. Overview In 2019, the semiconductor display industry was in the longest and deepest trough in the history of industrial development, with oversupply exacerbated and industry competition becoming increasingly fierce. At the same time, economic and trade frictions have continued to occur around the world, trade protectionism has intensified, and unstable factors such as geopolitical turmoil have also brought great downward pressure on the global economy. In the severe market environment, BOE actively turned the market trough into an opportunity for corporate growth. In the overall shrinking environment of the industry market size, it achieved sustained and stable revenue growth. The company achieved revenue of approximately RMB 116.06 billion, a year-on-year increase of approximately 19.51%. 1. D, S, and H three major business sectors develop port devices simultaneously (D) The market position of display devices has continued to improve steadily, with overall sales increasing by 16% year-on-year. The sales market share of the five major mainstream products, including smartphone LCD screens, tablet screens, laptop screens, monitor screens, and TV screens, continues to rank first in the world; the construction of new production lines of the Display and Sensor Devices Business Group has been smoothly promoted, and the flexible AMOLED business has achieved a breakthrough. The 10.5-generation TFT-LCD production line in Hefei has achieved full production; the 6th-generation flexible AMOLED production line in Mianyang and the 10.5-generation TFT-LCD production line in Wuhan have achieved mass production, and the pile foundation of the 6th-generation flexible AMOLED production line in Chongqing has been completed; the sales of innovative applications have increased by nearly 50% year-on-year, and the market share has increased rapidly. The sensor and solution business has grown rapidly, and the shipment volume of the medical imaging business has increased by more than 70% year-on-year; the core client of the biological detection Flowcell product accounted for more than 50% in a single month. Smart Internet of Things (S) The quality of smart manufacturing services has been improved. The borderless full-screen series products have been fully introduced into mass production for brand customers. The sales volume of TV sets in the domestic market has increased by 180% year-on-year, becoming the preferred supplier for many strategic customers; new applications such as commercial displays, electronic table signs, smart cash registers, and smart watches have all achieved mass production and shipment. IoT solutions have undertaken demonstration projects such as the National Day performance and Daxing International Airport; smart finance has provided intelligent upgrade services for more than 1,000 financial outlets; smart retail overseas areas have introduced strategic investment and strengthened strategic cooperation, and the Chinese area has won bids for multiple intelligent transformation projects. The digital art display system has been approved as an ITU international standard, clarifying the international technical specifications for the display of digital artworks; the platform has exceeded 30,000 professional works, and the number of user-uploaded content has exceeded 1.5 million; it has been authorized by the Ministry of Culture and Tourism to establish a national digital cultural industry innovation center. Smart Medical Engineering (H) The mobile health product system was further improved, with more than 10 BOE brand products and more than 50 ecological chain products put on the market for sale; the company obtained the qualification for omni-channel medical device operation and sales, improved the construction of online and offline marketing platforms, and achieved a new high in hardware sales throughout the year; the integrated biochip detection system received special support from the Beijing Municipal Science and Technology Commission and completed the development of DEMO products; and accelerated the implementation of solutions such as respiratory and chronic disease management, cardiovascular disease management, diabetes management, smart first aid, smart health care communities, and smart public health examinations. Health Service Mingde Hospital's outpatient volume increased by 20% year-on-year; Hefei BOE Hospital has achieved nearly 100,000 outpatient visits since its opening in March, and has fully carried out various types of level 4 surgeries, treated hundreds of difficult and complicated diseases, and obtained the first batch of Internet hospital qualifications in Anhui Province; the regenerative medicine heart membrane has completed cell testing by the China Food and Drug Inspection Institute, and completed small animal experiments and large animal pre-experiments; the expansion of health parks has been steadily advancing, and life science and technology industrial parks have been established in various places. 2. Progress has been made in innovation segmentation and application market expansion The Sensor and Solution Business Group's Smart Window business launched the world's first high-speed rail smart window product, which was successfully used on the "Beijing-Xiong'an" high-speed rail train; the IoT Solution Business Group implemented 5G holographic classroom solutions, smart conferences, smart homes and other products and solutions; the Digital Art Business Group successfully launched new products such as Funbook and Painting Screen S3; the Mobile Health Business Group launched self-developed products such as breast milk analyzer and sleep monitor 2.0, and the Mobile Health App 4.0 was released and launched; the Health Service Business Group launched commercial storage products for newborn umbilical cord stem cells, and the Digital Human Body released App 2.0; the Light and Shadow Art Solution made its debut at the celebration event for the 70th anniversary of the founding of New China. 3. Further improvement of technological innovation capabilities In 2019, the number of new patent applications exceeded 9,600, of which more than 3,600 were overseas patents, and more than 4,000 patent applications were in important fields such as flexible AMOLED, sensing, artificial intelligence, and big data; more than 5,000 new patent authorizations were obtained, of which more than 2,000 were overseas patent authorizations; progress was made in the research and development of transformational technologies such as sensors, artificial intelligence, big data, and medical-engineering integration, ranking 6th in the ranking of Chinese companies' artificial intelligence technology invention patents, and image super-resolution, gesture recognition, and target detection algorithms won championships in top international competitions; presided over the formulation and revision of 29 external technical standards, of which 13 were new, and the ITU international standard for the independently developed digital art display system was approved, seizing the discourse power and commanding heights of international standards in the field of digital culture, and 2 ultra-high-definition telemedicine international standards were approved by the ITU. 2020 First Quarter Report I. Main accounting data and financial indicators |
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