BOE's Net Profit Climbs 162.46% in 2020, Followed by Stock Price Rise

Technology Author: 马渭淞 Editor: 张宇喆 Apr 13, 2021 11:46 AM (GMT+8)

Founded in 1993, BOE's core business includes IoT, smart medical and Interface devices.


According to the company's 12 April report, BOE realized an operating revenue of CNY 135.55 billion in 2020, a year-on-year increase of 16.80%, while the net profit attributable to shareholders made a huge leap of 162.46% to CNY 5.04 billion.

BOE stated that the double growth of revenue and net profit was mainly due to the rapid development of its display business, whose revenue jumped 16.03% to CNY 131.97 billion, and whose gross profit rate boosted 4.79% to 18.34%.

The shipment of display screens ranks first worldwide both in overall shipment and in the five major sub-fields.

BOE's flexible OLED product shipment also achieved a breakthrough, jumping up more than 100% in 2020 and ranking first in the domestic industry and second in the world, according to Sigmaintell.

In addition, the sales volume of BOE's innovative application products increased by more than 60%, and the sales area increased by more than 70%.

BOE also invested CNY 9.44 billion in R&D, with a year-on-year growth of 7.9%. By the end of the fiscal year, BOE had obtained more than 70000 patents, of which invention patents accounted for more than 90% of the company's annual new applications.

It is also worth noting that BOE expects the net profit attributable to shareholders to skyrocket 782% in 1Q 2021, reaching CNY 5-5.2 billion.

BOE specializes in smart products and professional services, especially human health tech and data transmission needs.