京东方Ｂ：2025年年度报告（英文版）

ANNUALREPORT2025 April2026 MessagetoOurShareholders Withanotheryearbehindus,wehavedeliveredstrongresultsandmademeaningfulstrides. Lookingbackon2025,theglobalindustriallandscapeunderwentprofoundchanges,withopportunitiesandchallengescloselyintertwined.Withthesteadfasttrustandbackingofourshareholders,theentireBOEteamhasrisentochallengesbygainingstrengthamidtransformationandadvancingthroughinnovation,drivingtheCompanyforwardonastableandsustainablepath.OnbehalfofBOE,Iwouldliketoextendoursincerestgratitudetoallshareholdersandpartners. DuringtheReportingPeriod,ourcorestrengthsgrewevenstronger,breakthroughsinemergingfieldsaccelerated,and our strategic industry footprint continued to take solid shape.Specifically,BOE hasmaintainedthe world’s No.1 shipment volume across five major LCD mainstream applications andautomotivedisplays,whileshipmentsofflexibleOLEDdeviceshavealsoachievedsteadygrowth.Theinnovation-drivenbusinessesgainedstrongmomentum.Multipleentities,includingBOEVaritronix,BOEEnergy,andUPTC,haveearnedtop-tierindustryqualificationsandaccolades,furtherreinforcingtheirbenchmarkpresenceintheirrespectivenichesegments.Newprojectdeploymenthasadvancedsmoothly.Thesixth-generationnewdisplayproductionlineinBeijingandPhaseIIofthesmartterminalprojectinVietnamhavesuccessfullyenteredmassproduction,whilethefirstproductonthe8.6-generationAMOLEDproductionlineinChengduwaslitupaheadofschedule.Atthesametime,strategicinitiativessuchasZhuhaiBOEMLED,BeijingBOEHospital,andYantaiMaterialsResearchInstitutehavedeliveredtangibleresults,layingasolidfoundationfortheCompany’slong-term,high-qualitygrowth.TheseachievementsaretheresultofBOE’scontinuousexplorationanddeepcommitmenttohigh-qualityindustrialdevelopment. Overthepastyear,weremainedcommittedtostrategicguidanceandplannedtheCompany’sfuturefromalong-term perspective.Throughout our business journey,we have continuously refined a strategicdevelopmentsystemthatisuniquelyBOE.Thissystemhasgraduallybecomescientificandwell-groundedwiththestrategyof"EmpowerIoTwithDisplay"astheguidingprincipleforourdevelopment,the“NthCurve”theory as the framework for strategic evolution,the“1+4+N+Ecosystem”architecture as ourbusinessdevelopmentpathway,the“ThreeHorizontalsandThreeVerticals”and“RigorousBackbonewithDelegatedBranches”mechanismsasoperationalandmanagementsupport,andthe“ThreeMindsandFiveSpirits”astheculturalfoundation.Weanchoredourdirectionwithaclearstrategyandsupportedbusinessbreakthroughswithawell-establishedsystem,steadilydeliveringsustainablegrowthintheCompany’svalue. Overthepastyear,weremainedcommittedtoinnovation-drivendevelopment,ledindustrialupgradingthroughglobaltechnologydebuts,andcontinuouslystrengthenedourcorecompetitiveness.Inthedisplaybusiness,theworld’s first high-PPI under-display camera OLED gaming smartphone display won the"DisplayoftheYear"awardatDisplayWeek.UBCell4.0TVproductsachievedultra-highcolorgamutandfullviewingangleswithoutcolordistortion,deliveringanexceptionalvisualexperiencecomparabletoOLEDquality.Ininnovativebusinesses,theMLEDbusiness,incollaborationwithBOEHCSemiTek,developedtheMPDP0.6double-sidedposterdisplay,whichwonthe"BestofShowAwards"atInfoComm2025intheUnitedStates.ThespinesurgeryexpertteamatChengduBOEHospitalcompletedtheworld’sfirstreverse-folding deformity correction surgery.The R&D and pilot production line for glass-basedpackagingsubstratesachievedfullprocessintegration.Perovskitephotovoltaicmoduleefficiencysetfournewworldrecords. Wefirmlyadvancedthe“AI+”strategy.InAI+manufacturing,wepioneeredtheindustry’sfirstBOEAIfactory,leveraging our self-developed Blue Whale display large model to continuously enhancemanufacturingefficiency.InAI+products,weestablishedafull-chaininnovationmodelspanning“devices–completeproducts–systems–scenarios".InAI+operations,wefocusedonkeyareassuchasmarketinsights,productionplanning,and integrated supply,continuously driving quality improvement and efficiencyenhancement.BOEisdedicatedtobuildingrobustproductandtechnologymoatsthroughcomprehensiveinnovationpractices,continuouslystrengtheningtheCompany’ssustainableprofitability. Overthe past year,we remained committed to sustainable development,conveying corporateresponsibilityandhuman-centriccarethrough"green+technology".Wefirmlybelievethatagreatenterpriseshouldnotonlyleadintechnologyandmarketscale,butalsoleverageinnovativetechnologiestosafeguardabetterlifeandcreatesustainablesocialvalue.Wecollaboratedwithindustrychainpartnersthroughjointinnovationtodrivegreen,low-carbon,anddecarbonizationeffortsthroughouttheentirelifecycleofthedisplayindustry.Todate,all18ofourdisplaymanufacturingproductionlineshavebeenrecognizedas"NationalGreenFactories",withthebenchmarkeffectofgreenmanufacturingcontinuingtoexpand.InApril2025,welaunchedthedisplayindustry’sfirstsustainabilitybrand,"ONE",embodying"Open,Next,andEarth",andelevatingsustainabledevelopmentfromcorporatepracticetoanindustrystandard.Lookingahead,wewillfurtherdeepenoursustainabledevelopmentstrategy,guidedbythevaluepropositionof"CreatingValuefo