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在线翻译:
szdaily -> Markets -> 
BOE Technology shares decline after screen prices drop
    2018-06-21  08:53    Shenzhen Daily

BOE Technology Group Co.’s stock market reversal is dramatic even by China’s standards. It took less than a year for the Apple Inc. supplier to go from one of the nation’s best-performing stocks to among its worst — a precipitous selloff that may not be over.

BOE Technology, China’s largest maker of screens for TVs and phones, shed more than more than 30 percent of its value this year, the steepest decline among the 50 biggest companies listed in Shanghai and Shenzhen. That was prompted by ballooning supply and plunging prices for the large screens that comprise most of its business. Even earning a coveted spot on Apple’s list of top 200 suppliers couldn’t overcome fears that demand-supply imbalances will persist, analysts say.

That’s a far cry from 2017, when its shares more than doubled, net income quadrupled and executives talked up their prospects of getting into lucrative smartphone screens.

BOE Technology ranked fifth in terms of gains among China’s 50 largest publicly traded stocks. And the company sketched bold plans to get into next-generation OLED, or organic light-emitting diode, screens and of supplying future iPhones.

“BOE Technology’s ride is over. Right now, I can’t see catalysts for growth,” said Zhang Haidong, head of research for Jinkuang Investment Management. “Despite getting onto Apple’s suppliers list, its prospects remain tied to TVs, and they don’t look great.”

Valuation is part of the challenge. Despite its recent slide, BOE Technology trades at more than 15 times current-year earnings, a higher multiple than industry leader Samsung Electronics Co.(SD-Agencies)

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