TECH

Chinese Panel-Makers Report Solid Earnings in 2025 as Market Recovers

Published: Apr. 3, 2026 6:39 p.m. GMT+8

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A BOE booth in Shanghai. Photo: VCG

Two of China’s largest display panel manufacturers reported stronger earnings in 2025, benefiting from a market recovery fueled by production cuts to stabilize prices. However, surging memory chip prices could dampen demand in 2026.

BOE Technology Group Co. Ltd. (000725.SZ) reported a 3.1% revenue increase to 204.6 billion yuan ($30 billion) for 2025, surpassing the 200 billion yuan mark for the first time in three years. Its net profit attributable to shareholders rose more than 10% to 5.9 billion yuan, according to its annual report released on Tuesday.

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BOE revenue rose 3.1% to 204.6B yuan, profit >10% to 5.9B yuan in 2025; TCL CSOT revenue +17.4% to 105.2B, profit +54.4% to 5.4B.
Chinese firms hold 76% global LCD market share in 2025, stabilizing via production cuts.
Surging memory prices to shrink global panel market 1.8% to $112.4B in 2026.

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Who’s Who

BOE Technology Group Co. Ltd.: BOE Technology Group Co. Ltd. (000725.SZ) reported 2025 revenue up 3.1% to 204.6 billion yuan ($30B), first time exceeding 200B yuan in three years. Net profit rose >10% to 5.9 billion yuan. Leads global LCD market with 27% share; CEO Feng Qiang says LCD TV panels have reached equilibrium. (52 words)

TCL Technology Group Corp.: TCL Technology Group Corp. (000100.SZ), via subsidiary TCL CSOT, holds 23% of global LCD market share in 2025 (second to BOE). TCL CSOT reported 2025 revenue up 17.4% to 105.2 billion yuan and net profit up 54.4% to 5.4 billion yuan, amid market recovery.

TCL CSOT: TCL CSOT, subsidiary of TCL Technology Group Corp. (000100.SZ), holds 23% of global LCD market share in 2025 (per Omdia). It reported 2025 revenue up 17.4% to 105.2 billion yuan and net profit up 54.4% to 5.4 billion yuan.

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