In the evening of April 3, BOE released its annual report for 2022. According to the annual report, BOE's annual revenue was 178.414 billion yuan, down 19.28% year-on-year, and net profit was 7.551 billion yuan, down 70.91% year-on-year. The annual report said that the company's operational resilience to deal with the industry downturn has improved significantly.

BOE said that in 2022, in the macro environment of frequent geo-z-governance risks and global economic downturn, inflation continues to be high, consumer confidence and ability to consume is depressed, rigid spending inhibits upgrade consumption, brand end purchasing strategy tends to be conservative, semiconductor display industry supply and demand imbalance, the industry development is under significant pressure throughout the year. Semiconductor display mainstream application product prices fell throughout the year, the brand side panel procurement is conservative posture, the panel factory overall crop rate although maintain a relatively low level, but still facing a greater shipping pressure.

BOE 2022 annual report said, LCD mainstream application shipments throughout the year steady rise, in smart phones, tablet PCs, notebook computers, monitors, TVs and other five major application areas continue to hold steady in the world's first, splicing, car and other innovative applications shipments ranked first in the world; flexible AMOLED continued to maintain growth momentum, shipments further breakthroughs, year-on-year growth of more than three percent The shipment of flexible AMOLED continues to maintain its growth momentum, with further breakthroughs and year-on-year growth of over 30%.

From the specific business point of view, BOE mainly includes display devices, IoT innovation, sensing, MLED (Mini/Micro LED), intelligent medical industry and other businesses, these businesses in 2022 to achieve revenue of 157.949 billion yuan, 27.245 billion yuan, 307 million yuan, 847 million yuan, 2.203 billion yuan respectively. 2022 annual report also said that in Under the guidance of the "Screen of Things" strategy, BOE's IoT transformation business also achieved a series of bright results, system solution revenue grew 41.16% year-on-year, sensing business revenue grew 41.80% year-on-year, MLED business revenue grew 84.79% year-on-year, and smart medical business revenue grew 19.31% year-on-year. And we have successfully built a number of benchmark projects in IoT segmented application scenarios such as smart parks, smart finance and visual arts.

In addition, BOE's 2022 annual report shows that BOE invested 12.602 billion yuan in R&D, accounting for 7.06% of revenue, and the cumulative number of independent patent applications has exceeded 80,000 by 2022, with a total of over 40,000 validly granted patents worldwide.

In February this year, BOE accepted institutional research has said, according to the third-party consulting agency data, the second quarter of 2023 by the promotion of stockpiling and other factors, LCD TV shipments are expected to increase significantly, by the impact of the downturn in demand in 2022, the overall crop rate of the panel factory in the first quarter of 2023 is still at a low level, the inventory level is low, price increase demand is strong; March LCD TV panel prices will be the whole line Up, part of the large size up nearly 10%, LCD TV products will have the opportunity to usher in the volume and price. In addition, in 2023, large size LCD product demand area will return to growth, especially the TV market will continue to large size, the semiconductor display industry will return to normal off-peak season fluctuations.