BOE Technology Group Co., Ltd.
In the news
- Chinese tech companies topple Japan, chase US in market share Aug 12, 2020
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- Washington blacklists key Apple supplier amid US-China decoupling Jul 22, 2020
- Apple opts for OLED screens for entire 5G iPhone range Jul 7, 2020
- LG and Samsung in full retreat before Chinese flat-panel onslaught Apr 19, 2020 See more articles on BOE Technology Group Co., Ltd.
Company Background
BOE Technology Group is China's largest liquid crystal display panel maker. BOE Technology's biggest competitor in the domestic market is TCL. BOE was established in 1993, following the reorganization of a state-owned vacuum tube plant in Beijing. The company has factories in Beijing, Hefei, Chongqing and other cities. It also has research and development centers in the U.S. and Japan.
BOE mainly produces LCD panels for flat-screen TVs, large monitors and smartphones. Its strength is in LCD panels for smartphones and tablets, a segment in which it holds the largest market share in the world.
The company has rapidly improved its technological capabilities and is building plants to produce the world's first 10.5-generation large panels. It also makes high-definition 8K displays.
BOE has strong fundraising ability, thanks to its backing from the Beijing city government, and is investing heavily in new plant construction, research and development. It is expanding its business in the following areas: LCD panels, displays and lighting technology and health care -- mostly "smart medicine" and hospital management employing information technology.
A state-run entity owned by the Beijing municipal government is BOE's largest shareholder with over 10% of its outstanding shares. The company has an employee stock ownership plan and was among the first state-owned companies to introduce a performance-based compensation system. With other Chinese manufacturers increasing investment to boost production of LCD panels, intensifying competition is a source of concern.
Business Summary
Financial Highlights
| Dec 2019 | CNY | USD |
| Revenue | 115,198.48M | 16,671.62M |
| Gross Profit | 14,931.42M | 2,160.88M |
| Operating income | -95.17M | -13.77M |
| Income before tax | 303.72M | 43.95M |
| Net income | 1,918.64M | 277.66M |
| EBITDA | 18,891.79M | 2,734.03M |
| Diluted EPS | 0.05 | 0.00 |
| Dividends Per Share | 0.01 | 0.00 |
| Total Assets | 340,412.20M | 48,869.77M |
| Total liabilities | 197,150.10M | 28,302.98M |
| Total equity | 95,058.12M | 13,646.60M |
| Operating cash flow | 26,176.46M | 3,788.28M |
| Currency in CNY | Currency in USD |
Historical Data
| Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | |
| Revenue | 48,590.86M | 68,436.39M | 93,092.09M | 96,330.25M | 115,198.48M |
| Gross Profit | 9,875.44M | 12,091.00M | 22,553.21M | 17,915.99M | 14,931.42M |
| Operating income | 2,697.06M | 3,345.55M | 10,784.97M | 4,927.40M | -95.17M |
| Income before tax | 2,008.49M | 2,527.52M | 9,740.90M | 4,136.21M | 303.72M |
| Net income | 1,636.27M | 1,882.57M | 7,567.68M | 3,435.12M | 1,918.64M |
| EBITDA | 10,567.14M | 13,266.17M | 22,729.49M | 18,844.72M | 18,891.79M |
| Diluted EPS | 0.04 | 0.05 | 0.21 | 0.09 | 0.05 |
| Dividends Per Share | 0.01 | 0.02 | 0.05 | 0.02 | 0.01 |
| Total Assets | 152,592.89M | 205,135.01M | 256,108.74M | 304,020.00M | 340,412.20M |
| Total liabilities | 71,835.81M | 110,624.83M | 149,562.52M | 181,483.63M | 197,150.10M |
| Total equity | 77,485.27M | 78,699.98M | 84,809.81M | 85,849.38M | 95,058.12M |
| Operating cash flow | 10,677.97M | 10,222.48M | 26,381.50M | 26,040.09M | 26,176.46M |
| Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | |
| Revenue | 7,731.09M | 10,301.16M | 13,774.64M | 14,557.97M | 16,671.62M |
| Gross Profit | 1,571.24M | 1,819.95M | 3,337.15M | 2,707.56M | 2,160.88M |
| Operating income | 429.11M | 503.57M | 1,595.83M | 744.65M | -13.77M |
| Income before tax | 319.56M | 380.44M | 1,441.34M | 625.08M | 43.95M |
| Net income | 260.34M | 283.36M | 1,119.77M | 519.13M | 277.66M |
| EBITDA | 1,681.29M | 1,996.84M | 3,363.23M | 2,847.92M | 2,734.03M |
| Diluted EPS | 0.00 | 0.00 | 0.03 | 0.01 | 0.00 |
| Dividends Per Share | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Assets | 23,498.96M | 29,517.95M | 39,328.73M | 44,280.99M | 48,869.77M |
| Total liabilities | 11,062.55M | 15,918.38M | 22,967.21M | 26,433.37M | 28,302.98M |
| Total equity | 11,932.56M | 11,324.55M | 13,023.62M | 12,504.09M | 13,646.60M |
| Operating cash flow | 1,698.92M | 1,538.70M | 3,903.61M | 3,935.32M | 3,788.28M |
Valuation Measures
| Dec 2019 | |
| PER | 82.39 |
| ROA | 0.59% |
| ROE | 2.12% |
| Operating margin | -0.08% |
| Profit margin | 1.66% |
Key executives
- Chairman & General Manager: Yan Shun Chen
- Co-Vice Chairman & President: Xiao Dong Liu
- Co-Chief Operating Officer & EVP: Xiang Jun Yao
- Chief Financial Officer, Director & Executive VP: Yun Sun
- Co-Vice Chairman & Executive Vice President: Wenbao Gao
Shareholders
- Beijing State-Owned Assets Supervision & Administration (15.2%)
- Chongqing Yuzi Optoelectronics Industry Investment Co. Ltd. (5.1%)
- Hefei Jianxiang Investment Co. Ltd. (5.0%)
- Beijing Econ & Tech Dev Area State-Owned Assets Mgmt Office (2.7%)
- Generali China Asset Management Co. Ltd. (1.3%)
- BOE Technology Group Co., Ltd. (1.0%)
- GF Fund Management Co., Ltd. (0.7%)
- China Investment Corp. (Investment Management) (0.7%)
- JPMorgan Asset Management (Asia Pacific) Ltd. (0.5%)
- Bank of Communications Schroder Fund Management Co., Ltd. (0.4%)
Contact Details
- Website:http://www.boe.com.cn
- Address: 12 Xihuan Middle Road, Economic-Technological Dev Area, Beijing, 100176, China
- Phone: +86.10.64366264
Related Companies
- BOE Technology America, Inc.
- Boe Smart Retail Hk Co. Ltd.
- Hefei BOE Display Technology Co., Ltd.
- Hefei BOE Display Light Co. Ltd.
- Boe Optoelectronics Holding Co. Ltd.
- Beijing Oriental Medical Care Investment Management Co. Ltd.
- Boe Technology Hk Ltd.
- Hefei Xinsheng Optoelectric Technology Co. Ltd.
- Chongqing BOE Optoelectronics Technology Co., Ltd.
- Ordos Yuansheng Optoelectronics Co. Ltd.
- Beijing BOE Display Technology Co. Ltd.
- Beijing BOE Video Technology Co., Ltd.
- Beijing BOE Optoelectronics Technology Co. Ltd.
- Beijing BOE Properties Ltd.
- Beijing Matsushita Color CRT Co. Ltd.
- Beijing Asahi Glass Electronics Co. Ltd.
- Zhejiang BOE Display Technology Co. Ltd.
- Hydis
- BOE Varitronix Limited
- SES-imagotag SA
Competitors
- LG Display Co., Ltd
- Innolux Corp.
- Au Optronics Corp.
- Kopin Corporation
- Hannstar Display Corp.
- Radiant Opto-Electronics Corp.
- e-Litecom Co., Ltd
- CoAsia Electronics Corp.
- INVENIA Co., Ltd.
- Shaanxi Baoguang Vacuum Electronic Apparatus Co., Ltd. Class A
- Techwing, Inc.
- Tianjin Jingwei Huikai Optoelectronic Co., Ltd. Class A
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Last Updated on 30 Sep, 2020
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