BOE continues to explore and develop the "Nth curve" and will spend more than 1 trillion yuan on purchases to promote industrial development

On September 4, at the BOE 2024 Global Innovation Partner Conference, BOE (BOE) Chairman Chen Yanshun said, "By 2030, BOE plans to release more than 500 cooperative projects, invest more than 100 billion yuan in technology research and development, and spend more than 1 trillion yuan on purchases to promote industrial development."

In the past three decades of development, BOE has successfully achieved the transformation from a follower to a leader through important choices such as independent innovation, strategic mergers and acquisitions, diversified development, and continuous R&D investment, and has occupied an important position in the global display panel market.

Founded in 1993, BOE was restructured from the Beijing Electron Tube Factory. When entering the TFT-LCD industrial stage, BOE abandoned the introduction of production lines and joint ventures and chose the path of self-mastering technology. This strategic decision enabled BOE to quickly break through the foreign technology monopoly and break the market monopoly of Japanese and Korean panel giants.

In 2003, BOE officially entered the field of LCD flat panel display production by acquiring the TFT-LCD business, related patents and teams of South Korea's Hyundai Electronics. This merger not only improved BOE's technical level, but also laid a solid foundation for its subsequent development.

Since 2016, BOE has proposed and deepened the "Screen Internet of Things" strategy, combining semiconductor display business with IoT innovation and building a "1+4+N+Ecosystem" business structure. This strategy has enabled BOE to transform from a single display device manufacturer to an IoT company that provides smart terminal products and professional services.

Chen Yanshun said that in the more than 30 years of development, BOE has experienced many twists and turns, but it has always been able to turn the industry's lows into opportunities for corporate growth. This is all thanks to BOE's vigilance and forward-looking insight into industry development trends, and continued exploration of new development "Nth curves". From the initial electric vacuum devices, to LCD and OLED technologies, to the transformation of the Internet of Things, BOE has continuously adjusted its strategy and business direction to adapt to market changes. Behind each "curve" is BOE's deep understanding of industry development and forward-looking strategic layout.

In the process of more than 30 years of deep cultivation in semiconductor display, BOE has accumulated its three core advantages, namely: semiconductor display technology, glass-based processing and large-scale integrated intelligent manufacturing capabilities. Among them, in the wave of AI, BOE has built core technical capabilities such as model training, big data, and the Internet of Things based on the theoretical guidance of the "Nth Curve", deeply integrated artificial intelligence with the industry, and focused on the three major areas of "AI+manufacturing, AI+products, and AI+operations".

Chen Yanshun predicts that by 2030, the global market size that BOE's "1+4+N+ecological chain" business development architecture can reach will exceed one trillion US dollars. At the same time, BOE is committed to achieving the goal of environmental protection and promises to achieve carbon neutrality in its own operations by 2050.