BOE Technology Group released its 2011 annual performance report. BOE achieved total operating revenue of 12.741 billion yuan in 2011, a year-on-year increase of 58.77%; operating profit of 157 million yuan, up 106.76% year-on-year; total profit of 846 million yuan, up 137.75% year-on-year; The net profit of the company's shareholders was 560 million yuan, a year-on-year increase of 127.99%; the basic earnings per share was 0.041 yuan, an increase of 120.30%.
The report shows the company's 2011 operating conditions, financial status and major factors affecting business performance:
(1) Affected by the continued low global electronic consumer market in 2011, the company's main LCD panel products continued to fall, resulting in a large operating loss in 2011;
(2) In 2011, the company's 5th generation TFT-LCD production line was adjusted for product structure, and the miniaturization equipment was transformed, resulting in a decrease in production line utilization rate. The company's 8.5th generation production line began mass production in September 2011, and the fourth quarter. During the production rampage period, a certain loss occurred;
(3) The equity transfer of the subsidiary company of the company to Ordos City BOE Energy Investment Co., Ltd. was completed at the end of 2011 and is expected to generate approximately RMB 3.72 billion in revenue;
(4) The company received partial loan interest subsidies and research and development subsidies in the fourth quarter of 2011, which had a positive impact on 2011 results.
BOE said that the main reason for the increase or decrease in the company's performance indicators was more than 30%: (1) The year-on-year increase in total operating income was mainly due to the increase in production capacity of the company's production line during the reporting period; (2) operating profit, total profit, and attributable to listing The net profit, basic earnings per share, and weighted average return on equity of the company's shareholders increased significantly year-on-year mainly due to the company's profit during the reporting period.
In addition, BOE pointed out that the company disclosed the “2011 Annual Results Announcement Amendment Announcement†on January 31, 2012. The net profit attributable to shareholders of the listed company was increased by 12% compared with the previous performance estimate. The transfer of the equity of the Ordos City BOE Energy Investment Co., Ltd. for the subsidiary company is expected to increase.
BOE expects a net profit loss of 500 million to 600 million yuan attributable to shareholders of listed companies in the first quarter of 2012, compared with a loss of 675 million yuan in the same period last year; the basic earnings per share of Q1 in 2012 was about 0.037 yuan - 0.044 yuan, compared with the same period last year. The loss is about 0.05 yuan.
BOE said that the main reasons for the changes in Q1 performance are: 1. In the first quarter of 2012, the prices of the company's main products have not recovered significantly, and continue to be at a low level; the production capacity of the 8.5th generation production line is still in the climbing stage, resulting in a certain loss. 2, the company's 4.5th production line and the 5th generation production line after 2011 product structure adjustment, the proportion of small size products increased significantly, product competitiveness significantly improved;
BOE emphasizes that the company's sixth-generation production line is fully sold, operating conditions and cash flow are working well, and it is expected that the first quarter of 2012 will improve year-on-year.
The report shows the company's 2011 operating conditions, financial status and major factors affecting business performance:
(1) Affected by the continued low global electronic consumer market in 2011, the company's main LCD panel products continued to fall, resulting in a large operating loss in 2011;
(2) In 2011, the company's 5th generation TFT-LCD production line was adjusted for product structure, and the miniaturization equipment was transformed, resulting in a decrease in production line utilization rate. The company's 8.5th generation production line began mass production in September 2011, and the fourth quarter. During the production rampage period, a certain loss occurred;
(3) The equity transfer of the subsidiary company of the company to Ordos City BOE Energy Investment Co., Ltd. was completed at the end of 2011 and is expected to generate approximately RMB 3.72 billion in revenue;
(4) The company received partial loan interest subsidies and research and development subsidies in the fourth quarter of 2011, which had a positive impact on 2011 results.
BOE said that the main reason for the increase or decrease in the company's performance indicators was more than 30%: (1) The year-on-year increase in total operating income was mainly due to the increase in production capacity of the company's production line during the reporting period; (2) operating profit, total profit, and attributable to listing The net profit, basic earnings per share, and weighted average return on equity of the company's shareholders increased significantly year-on-year mainly due to the company's profit during the reporting period.
In addition, BOE pointed out that the company disclosed the “2011 Annual Results Announcement Amendment Announcement†on January 31, 2012. The net profit attributable to shareholders of the listed company was increased by 12% compared with the previous performance estimate. The transfer of the equity of the Ordos City BOE Energy Investment Co., Ltd. for the subsidiary company is expected to increase.
BOE expects a net profit loss of 500 million to 600 million yuan attributable to shareholders of listed companies in the first quarter of 2012, compared with a loss of 675 million yuan in the same period last year; the basic earnings per share of Q1 in 2012 was about 0.037 yuan - 0.044 yuan, compared with the same period last year. The loss is about 0.05 yuan.
BOE said that the main reasons for the changes in Q1 performance are: 1. In the first quarter of 2012, the prices of the company's main products have not recovered significantly, and continue to be at a low level; the production capacity of the 8.5th generation production line is still in the climbing stage, resulting in a certain loss. 2, the company's 4.5th production line and the 5th generation production line after 2011 product structure adjustment, the proportion of small size products increased significantly, product competitiveness significantly improved;
BOE emphasizes that the company's sixth-generation production line is fully sold, operating conditions and cash flow are working well, and it is expected that the first quarter of 2012 will improve year-on-year.
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