BOE Loss of 2.1 Billion Yuan in the First Three Quarters is expected to Surpass 3 Billion in Annual Losses

On Saturday, BOE A disclosed about three quarterly reports. The report said that in the first three quarters, the company had a cumulative loss of 2.143 billion yuan, and it is also expected that the total annual loss this year will exceed 3 billion yuan.

In the first three quarters, BOE A achieved an operating income of 8.515 billion yuan and a loss of 2.143 billion yuan. The loss in the third quarter was 928 million yuan. According to the report, the global terminal consumer market continues to be sluggish, and the company’s main LCD panel prices continue to decline, which is the main reason for the large losses.

BOE A also expects that the net profit attributable to shareholders of listed companies this year will be a loss of 3.2 billion yuan - 3 billion yuan, more than the 2 billion yuan in the same period last year. Due to the loss for two consecutive years, according to relevant regulations, the company's stock trading will be implemented warning of delisting risk.

However, the company announced a share transfer plan last Wednesday. The company’s holding subsidiary, BOE Optoelectronics, intends to transfer 80% of the shares of BOE Energy, of which 60% is transferred to Beijing Industrial Development Investment Management Co., Ltd. with a transaction price of RMB 2.7 billion. 20% was transferred to another listed company, Haohua Energy. The transaction price was 900 million yuan, totaling 3.6 billion yuan. BOE A said that it is fully promoting equity transfer.

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