With a net profit of 20 billion in nine months, has BOE beat Samsung Electronics?

According to news on October 7, screen giant BOE announced its performance forecast for the first three quarters of 2021. According to the contents of the notice, BOE’s net profit attributable to shareholders of listed companies during the notice period is around 20 billion yuan, which is a 700% increase compared to the same period in 2020.

As we all know, BOE had lost money for 14 years in a row, and was called a “losing money” state-owned enterprise in the industry. But now, “money-losing goods” have risen strongly, with a net profit of 20 billion yuan in just nine months.

With a net profit of 20 billion in nine months, has BOE beat Samsung Electronics?

There are three reasons why BOE will see a sharp increase in its performance in the first three quarters of 2021. One is that in the first half of this year, market demand continued to be strong, and the supply of raw materials such as screen driver chips was tight, which led to an increase in the prices of related products.

One is the first three quarters of 2021. Compared with the same period in 2020, the industry’s prosperity is higher. This brings development opportunities for Chinese screen giants including BOE, and at the same time enables BOE’s LCD business market share to be further increased.

As for the third reason, thanks to the rapid development of BOE’s multiple businesses.

With a net profit of 20 billion in nine months, has BOE beat Samsung Electronics?

In fact, there is another reason, that is, the congestion of shipping and the increase in logistics costs due to the long-term impact of the new crown epidemic. Therefore, the willingness of customers in the downstream of the industrial chain to stock up has been affected.

Under the influence of many factors, BOE’s performance during the forecast period has increased astonishingly. In addition, in the author’s opinion, BOE’s ability to seize the opportunity to make dazzling results at the right time also benefits from the company’s accumulation of technology.

According to news from IT House on October 7, BOE revealed that the company has applied for more than 4,500 patents since 2021, and invention patents account for more than 90%.

With a net profit of 20 billion in nine months, has BOE beat Samsung Electronics?

It should be noted that this is only the number of patents that BOE has applied for in less than a year. It can be seen that the company has made great efforts in technology research and development and innovation.

At the same time, it also means that the company has overcome difficulties along the way and has deeply realized the importance of core technology and technical barriers.

Looking at the global LCD panel market, Samsung Electronics is still the king in the OLED field, and BOE can only be behind for the time being.

However, I believe that BOE has a chance to surpass Samsung Electronics and become the world’s largest supplier of LCD panels. First of all, in the LCD field, BOE, as well as China Star Optoelectronics and other domestic giants have successfully ranked among the world’s forefront.

Secondly, Chinese companies such as BOE and Huaxing Optoelectronics have launched a comprehensive layout for Mini LED, which is regarded by the industry as the next-generation Display technology.

The latest news shows that in the third quarter of this year, BOE has jointly launched the world’s first active glass-based Mini LED TV with Skyworth.

In addition, the author has learned that BOE’s glass-based active P0.9 direct Display Mini LED products also have mass production capabilities.

With a net profit of 20 billion in nine months, has BOE beat Samsung Electronics?

Unlike OLED and LCD, this time, on Mini LED, Chinese companies are on the same starting line with giants such as Samsung Electronics in South Korea.

Judging from the current situation, both parties have begun to rush ahead. Although it is still uncertain who is temporarily ahead, it is certain that this time my country’s LCD panel suppliers will no longer be easily left behind, nor will they be long-term. In a situation of being constrained by others.

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