At 48, Feng Qiang, the newly appointed CEO of BOE Technology Group, has steered the company to a robust start in 2025, marking a seamless leadership transition for the global display industry leader.
Strong Shareholder Confidence
During the annual shareholders’ meeting on May 23, over 96% of investors approved key resolutions, including the 2024 annual report, reflecting unwavering trust in BOE’s strategic direction. Under Feng’s leadership, the company reported Q1 revenue exceeding RMB 50 billion, a 10% year-on-year increase, with net profit surging 64% to RMB 1.6 billion. These results underscore BOE’s resilience and execution capabilities amid evolving market dynamics.
Picture from 21 Century Business Review
Chairman Chen Yanshun praised Feng as “an exemplary leader among young executives,” highlighting his pivotal roles in strategic planning and operational excellence.
The BOE giant, with approximately RMB 200 billion in revenue, is quietly transitioning its leadership team.
Strategic Leadership Transition
Feng Qiang, a 26-year BOE veteran, ascended to the CEO role in January 2025, now ranking second on the board. His promotion aligns with BOE’s commitment to fostering young talent. The executive committee, now led by Feng, comprises nine members — 4 was born in 1970s and 5 in 1980s, with the youngest at 36 years old—signaling a blend of experience and innovation.
Picture from 21 Century Business Review
At recent industry forums, including “ONE” Brand Launch Forum and SID International Display Week, Feng emphasized for several times BOE’s core philosophy: “Innovation driven by market needs and technological advancement remains our compass.”
Riding the Panel Industry’s Growth Wave
BOE’s display business, contributing RMB 165 billion revenue annually, continues to dominate global markets for TVs, smartphones, and automotive screens. The current industry upcycle, characterized by tight supply-demand dynamics has propelled price hikes and profitability. “The global LCD TV panel market faces tight supply and demand,” Li Xiaoyan, a senior analyst at Sigmaintell’s TV division, told 21CBR. The supply-demand equilibrium threshold is 5.5%, but from January to March, the ratio stood at 4.6% for LCD TV panels.
Feng attributed this success to overseas demand, stable IT panel procurement, and policy-driven growth in mid-to-low-end smartphones.
Riding this momentum, Feng Qiang started strong, with BOE reaping substantial profits. From January to March, BOE net profit reached 1.6 billion yuan, up 64% year-on-year.
Feng explained that rising prices for mainstream TV panel sizes were driven by overseas customer stockpiling, while IT panel prices remained stable due to sustained procurement demand.
Additionally, boosted by government “trade-in” policies, mid-to-low-end smartphone shipments increased, improving industry conditions. BOE’s flexible OLED shipments grew steadily, nearing 140 million units annually.
Feng is also accelerating moves into high-end markets, shifting toward “four highs”: high-profit applications, high-value-added products, advanced technologies, and premium brands.
On May 20, BOE’s Chengdu 8.6th-generation AMOLED production line began equipment installation four months ahead of schedule, transitioning to operational readiness and laying the groundwork for mass production. Tandem OLED technology, targeting at high-end flagship devices, is projected to exceed 1 million shipments by 2025.
By April, shifting international trade dynamics and diminishing returns from policies like “trade-in” programs introduced new uncertainties, which has abruptly increased potential pressure. Management predicts LCD TV panel procurement demand will cool in May, with prices stabilizing. The exit of outdated low-end capacity will benefit leading players. BOE’s display panel business, under the leadership of Feng Qiang, has confidence to face this brutal downturns.
Navigating Challenges, Building Future Growth
While near-term headwinds—such as rising depreciation costs (RMB 38 billion in 2023, peaking in 2025 as the RMB 63 billion investment poroject - 8.6th-generation AMOLED – entering operation ) and geopolitical uncertainties—pose challenges, BOE remains steadfast in its long-term vision.
While near-term headwinds—such as rising depreciation costs (RMB 38 billion in 2023, peaking in 2025 as the RMB 63 billion investment poroject - 8.6th-generation AMOLED – entering operation ) and geopolitical uncertainties—pose challenges, BOE remains steadfast in its long-term vision.
Guided by Chairman Chen’s “Nth Curve” strategy, the company is diversifying into high-potential sectors like perovskite solar cells, which share synergies with semiconductor displays. BOE recently achieved a milestone by producing the industry’s first 4×1.2m perovskite sample in just 38 days. With RMB 35 billion annual R&D investment (7% of revenue) and over 100,000 patents, BOE aims to transcend traditional display boundaries and unlock trillion-dollar opportunities.
Balancing Legacy and Innovation
Despite early-stage ventures like smart healthcare (currently <1% of revenue), BOE’s dual focus on core strengths and emerging technologies ensures sustainable growth. Feng’s leadership will be tested in harmonizing legacy businesses with new engines, but the company’s track record and strategic agility position it to thrive across cycles.
Looking Ahead
“BOE’s mission is to lead through innovation,” stated Feng. “As we embrace the Nth Curve, we are not just adapting to change—we are shaping the future of displays and beyond.” With a young, dynamic leadership team and unwavering R&D commitment, BOE is poised to redefine industry standards and deliver value to stakeholders worldwide.
Founded in April 1993, BOE Technology Group Co., Ltd. (BOE) is a leading IoT innovation company providing intelligent interface products and services for information interaction and human health. Our “1+4+N+eco-chain” business architecture is centered on Semiconductor Display and features the integrated development of four business groups, namely, IoT Innovation, Sensors and Solutions, MLED and Smart Engineering Medicine.