If Russia has any significant ally at the moment, it would be China. However, the Chinese government is clearly threading with caution with regard to its support for Russia. Chinese manufacturing giant, Huawei, recently joined the bandwagon to technically abandon the Russian market. Now, another Chinese manufacturer has denied having a production line in Russia. There were speculations that BOE has a production line in Russia. However, in response to the question of “whether the company’s products have business dealings with Russian customers”, BOE said on the investor interaction platform yesterday that the company currently has no production lines in Russia.
BOE also claims that it will continue to pay attention to upstream raw material supply and downstream terminal market changes to ensure that products are delivered to global customers on schedule. In response to the progress of the situation in Russia and Ukraine, it will flexibly adjust its business strategy to reduce corporate risks.
According to reports, BOE has developed a variety of flexible AMOLED products that can be bent, folded and rolled. The company has provided high-end flexible AMOLED products for many global first-line brands. The financial report shows that in 2021, BOE A’s revenue will be 219.31 billion yuan, a year-on-year increase of 61.79% after adjustment.
Chinese manufacturer, BOE is doing quite well
After more than 20 years of catching up, Chinese companies are now the number one manufacturers of LCD displays. In fact, the presence of Chinese brands is pushing the likes of Samsung out of the market. BOE is the world’s largest LCD panel factory. In the OLED field, BOE is still very much behind South Korean manufacturer, Samsung. However, a recent report claims that this year, BOE’s OLED shipments will soar by 70%.
According to reports, BOE plans to increase OLED panel deliveries by nearly 70% this year. Its two production lines in Chengdu and Mianyang will run at full capacity this fiscal year. The third production line in Chongqing is in full production. This will increase BOE’s OLED production from 60 million units in 2021 to 100 million units this year.
The report also points out that although BOE currently occupies the world’s largest share in the LCD panel field, surpassing its Korean competitors, in the field of OLED panels, South Korea’s Samsung Electronics and LG Display are still in a leading position. The launch of BOE’s Chongqing factory and the construction of its new Chengdu factory will bring BOE closer to its Korean competitors.