Recently, BOE, the panel leader, held the Launching Ceremony of Perovsk ite Photovoltaic Project . According to the live video, seven leaders and guests participated in the launching ceremony. According to the
data, BOE was founded in 1993 and formally entered the field of display terminals four years later. In 2001, the company was listed in Shenzhen. At present, the display device business is the company's largest source of revenue, accounting for 80% of revenue. According to the monthly shipment data of the global LCD TV panel market released by Luotu Technologies on August 31 this year, BOE ranked first in the shipment list with 5.1 million pieces.
However, even the leader can not escape the industry cycle. It is reported that the panel industry has entered a downward cycle since 2021. Affected by the market downturn, in 2022, the company achieved a revenue of 178.414 billion yuan, a year-on-year decline of 19.28%; the net profit attributable to the parent company was 7.551 billion yuan, a year-on-year decline of 70.91%, and the gross profit rate hit a new low in the past ten years.
Last September, Chen Yanshun, chairman of Beijing Oriental, said at the performance presentation that "the panel industry has reached the bottom stage and there are signs of stopping falling", trying to send a positive signal to the outside world, but it was not until the second half of this year that Jingdong realized this optimism to the outside world. In the third quarter of 2023, the company achieved a revenue of 46.34 billion yuan, an increase of 12.65% over the same period last year; the net profit attributable to the parent company was 286 million yuan, compared with the loss of 1.3 billion yuan in the third quarter of last year, the company realized a profit year on year.
Although the panel industry has shown signs of recovery, BOE, which has suffered many losses, has begun to seek to develop new businesses to offset the adverse impact of the panel industry cycle on the company's revenue. However, according to the company's 2023 semi-annual report, apart from the fact that the innovative business of the Internet of Things can account for 21.72% of the total revenue, the company's smart medical business, sensor business, MLED and other businesses do not account for a high proportion, and it is difficult to be a major responsibility in the short term.
Source: 2023 semi-annual report
of the company Although the results show that the new business is not progressing smoothly, BOE's persistence in the new growth point of business has long been expected by the outside world. Previously, the industry has always believed that even if BOE wants to expand new business, it is still in the field of electronic display, which expected that the company suddenly announced the launch of a perovskite project completely unrelated to the current business.
This may be related to another giant in the panel industry. In September
2019, Zhonghuan Group started the mixed reform, and TCL Technology included 100% of the former shares with 12.5 billion yuan. After the completion of the mixed reform, Zhonghuan Group immediately began to expand at a high speed in the photovoltaic industry . From 2020 to 2022, Zhonghuan Group, renamed TCL Zhonghuan, achieved revenue of 19.057 billion yuan, 41.105 billion yuan and 67.01 billion yuan respectively, gradually becoming an important profit growth point of TCL technology. In the first half of
2023, TCL Technology achieved revenue of 85.19 billion, of which TCL Central contributed 34.898 billion, accounting for more than 40%. During the downturn of panel business, the company successfully held up half the sky.
TCL Technology's acquisition of Zhonghuan Group has also become a much-told story, which is the envy of the outside world. It is hard to say that BOE is not one of them. A number of companies
have entered the market, and the business process in the perovskite field has been accelerated
. In addition to BOE, a number of companies have recently announced the entry of perovskite. In early November, BYD said in its research activities that it would actively lay out perovskite battery technology. Subsequently, the relevant technology patents of Ningde Times were approved on the 20th of this month. According to the DataBM. Com of digital new energy, automobile giants Great Wall, Toyota, photovoltaic giants Longji Green Energy and Jingke Energy have all entered the perovskite field. In terms of
industry, three enterprises, Xiexin Optoelectronics, Fiber Nano Optoelectronics and Electrode Light Energy, have completed the construction of 100 MW production lines, of which the 1GW perovskite production line of Electrode Light Energy of Great Wall Holdings has been started in Wuxi in April this year. In terms of
efficiency, on the 12th of this month, Professor Ke Weijun and Professor Fang Guoguo of Wuhan University raised the steady-state efficiency of narrow band-gap perovskite sub-cells to 27.62%, providing a new way to improve the performance of all-perovskite tandem solar cells. Subsequently, Shanghai Lotte Perovskite Photoelectric Technology Co., Ltd. announced on the 21st that the company's perovskite solar cells achieved a third-party certification efficiency of 26.25%. Xiexin Optoelectronics also announced on the 23rd that the 1000mm X 2000mm perovskite single junction module has set a new world record and obtained 18.04% photoelectric conversion efficiency certification.
As the third generation of photovoltaic technology, compared with the current crowded track of crystalline silicon photovoltaic, perovskite companies are in the blue sea market to be developed. The advantages of 50% theoretical conversion efficiency, easy availability of raw materials and simple process open up a broad market space for perovskite. This also provides a new imagination for the future performance of enterprises such as Beijing Oriental, BYD and Great Wall.
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