BOE Reached CNY 20 billion in Net Profit as of Q3 2021

Consumer Discretionary Author: EqualOcean News Nov 01, 2021 04:50 PM (GMT+8)

In the first half of 2021, BOE continued to rank first in the world in terms of display shipments in the five application areas of smartphones, tablets, notebook computers, monitors and TVs.


BOE released its Q3 earnings report for the period ended September 30, 2021, on October 28.

·       Operating income was CNY 56 billion, a 46.8% year-on-year increase.

·       Net profit was CNY 7.3 billion, a 441.1% year-on-year increase.

·       Debt ratio was 13.88%.

·       Gross margin reached 44.32%.

·       Financial expenses were CNY 99 million.

The First three-quarter financial reports for the IoT firm are as below:

·       Revenue was CNY 163.3 billion, a 72% year-on-year increase.

·       Net profit was CNY 20 billion, a 708.4% year-on-year increase.

BOE issued the "Announcement on Provision for Asset Devaluation in the First Three Quarters of 2021." The company’s provision for inventory depreciation in the first three quarters of 2021 was 3.949 billion yuan, transferred back 1.24 billion yuan, and resold 792 million yuan. Inventory impairment losses in the first three quarters of 2021. The total profit is 1.918 billion yuan.

The company also released the investment project – "BOE Chengdu vehicle display project" with CNY 2.5 billion. The project strives to start production at the end of 2022, with an annual output of approximately 14.4 million onboard display screens after reaching full capacity.