THIRD QUARTER REPORT 2018
October 2018
BOE Technology Group Co., Ltd. Third Quarter Report 2018
Part I Important Notes
The Board of Directors (or the “Board”), the Supervisory Committee as well as the directors,
supervisors and senior management of BOE Technology Group Co., Ltd. (hereinafter referred
to as the “Company”) hereby guarantee the factuality, accuracy and completeness of the
contents of this Report and its summary, and shall be jointly and severally liable for any
misrepresentations, misleading statements or material omissions therein.
All the Company’s directors have attended the Board meeting for the review of this Report
and its summary.
Mr. Wang Dongsheng, the Company’s legal representative, Mr. Chen Yanshun, president of
the Company’s Execution Committee (Chief Executive Officer), Ms. Sun Yun, the Company’s
Chief Financial Officer, and Ms. Yang Xiaoping, head of the Company’s financial department
(equivalent to financial manager) hereby guarantee that the Financial Statements carried in
this Report are factual, accurate and complete.
This Report has been prepared in both Chinese and English. Should there be any
discrepancies or misunderstandings between the two versions, the Chinese version shall
prevail.
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BOE Technology Group Co., Ltd. Third Quarter Report 2018
Part II Key Corporate Information
I Key Consolidated Financial Information
Indicate by tick mark whether there is any retrospectively restated datum in the table below.
□ Yes √ No
Item 30 September 2018 31 December 2017 Change (%)
Total assets (RMB) 289,680,059,305.00 256,108,741,849.00 13.11%
Equity attributable to the listed company’s
85,818,805,445.00 84,809,816,377.00 1.19%
shareholders (RMB)
Item Q3 2018 YoY change (%) Q1-Q3 2018 YoY change (%)
Operating revenue (RMB) 25,990,508,323.00 4.79% 69,464,413,289.00 0.08%
Net profit attributable to the listed
403,860,235.00 -81.42% 3,379,066,735.00 -47.82%
company’s shareholders (RMB)
Net profit attributable to the listed
company’s shareholders before exceptional 119,979,875.00 -93.68% 1,098,848,634.00 -81.43%
items (RMB)
Net cash generated from/used in operating
-- -- 18,297,602,412.00 -1.05%
activities (RMB)
Basic earnings per share (RMB/share) 0.012 -80.65% 0.097 -47.57%
Diluted earnings per share (RMB/share) 0.012 -80.65% 0.097 -47.57%
Weighted average return on equity (%) 0.47% -82.33% 3.92% -50.75%
Exceptional gains and losses:
√ Applicable □ Not applicable
Unit: RMB
Item Q1-Q3 2018 Note
Gain or loss on disposal of non-current assets (inclusive of impairment allowance
-17,906,941.00 N/A
write-offs)
Tax rebates, reductions and exemptions given with ultra vires approval or in lack of
0.00 N/A
official approval documents
Government subsidies charged to current profit or loss (exclusive of government
subsidies given in the Company’s ordinary course of business at fixed quotas or amounts 2,431,679,361.00 N/A
as per government’s uniform standards)
Capital occupation charges on non-financial enterprises that are charged to current profit
0.00 N/A
or loss
3
BOE Technology Group Co., Ltd. Third Quarter Report 2018
Gain equal to the amount by which investment costs for the Company to obtain
subsidiaries, associates and joint ventures are lower than the Company’s enjoyable fair 9,317,244.00 N/A
value of identifiable net asset value of investees when making investments
Gain or loss on non-monetary asset swaps 0.00 N/A
Gain or loss on investments or assets entrusted to other entities for management 0.00 N/A
Allowance for asset impairments due to acts of God such as natural disasters 0.00 N/A
Gain or loss on debt restructuring 0.00 N/A
Restructuring costs in staff arrangement, integration, etc. 0.00 N/A
Gain or loss on over-fair value amount as a result of transactions with distinctly unfair
0.00 N/A
prices
Current profit or loss on subsidiaries obtained in business combinations involving
0.00 N/A
enterprises under common control from period-beginning to combination dates, net
Gain or loss on contingencies that do not arise in the Company’s ordinary course of
0.00 N/A
business
Gain or loss on fair-value changes in trading financial assets and liabilities & investment
income from disposal of trading financial assets and liabilities and available-for-sale
273,977,796.00 N/A
financial assets (exclusive of effective portion of hedges that arise in the Company’s
ordinary course of business)
Reversed portion of impairment allowance for accounts receivable which are tested
153,235.00 N/A
individually for impairment
Gain or loss on loan entrustments 0.00 N/A
Gain or loss on fair-value changes in investment property of which subsequent
0.00 N/A
measurement is carried out using fair value method
Effects of all adjustments required by taxation, accounting and other applicable laws and
0.00 N/A
regulations on current profit or loss
Income from charges on entrusted management 0.00 N/A
Non-operating income and expense other than above 48,197,584.00 N/A
Other gains and losses that meet definition of exceptional gain/loss 0.00 N/A
Less: Income tax effects 313,681,228.00 N/A
Non-controlling interests effects (net of tax) 151,518,950.00 N/A
Total 2,280,218,101.00 --
Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item defined or listed in the Explanatory
Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Gain/Loss
Items:
□ Applicable √ Not applicable
No such cases for the Reporting Period.
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BOE Technology Group Co., Ltd. Third Quarter Report 2018
II Total Number of Shareholders and Holdings of Top 10 Shareholders at 30 September 2018
1. Numbers of Ordinary Shareholders and Preferred Shareholders with Resumed Voting Rights as well as
Holdings of Top 10 Shareholders
Unit: share
1,423,472 (including 1,384,020 A-shareholders and 39,452 B-shareh
Number of ordinary shareholders
olders)
Top 10 shareholders
Shareholdin Restricted Shares in pledge or frozen
Name of shareholder Nature of shareholder Number of shares
g percentage shares Status Shares
Beijing State-owned
Capital Operation and State-owned legal person 11.68% 4,063,333,333 0 N/A 0
Management Center
Chongqing Ezcapital
Opto-electronics Industry State-owned legal person 7.62% 2,653,000,041 0 N/A 0
Investment Co., Ltd.
Hefei Jianxiang Investment
State-owned legal person 7.21% 2,510,142,953 0 N/A 0
Co., Ltd.
Beijing Yizhuang
Investment Holdings Co., State-owned legal person 3.57% 1,241,423,641 0 N/A 0
Ltd
Beijing BOE Investment &
State-owned legal person 2.36% 822,092,180 0 N/A 0
Development Co., Ltd.
Hong Kong Securities
Foreign legal person 1.42% 493,694,620 0 N/A 0
Clearing Company Ltd.
National Social Security
Other 1.07% 371,014,227 0 N/A 0
Fund Portfolio 108
Beijing Electronics
State-owned legal person 0.79% 273,735,583 0 N/A 0
Holdings Co., Ltd.
Central Huijin Assets
State-owned legal person 0.71% 248,305,300 0 N/A 0
Management Co., Ltd
China Securities Finance
Other 0.38% 132,480,249 0 N/A 0
Corporation Limited
Top 10 unrestricted shareholders
Shares by type
Name of shareholder Unrestricted shares
Type Shares
Beijing State-owned Capital Operation and Management Center 4,063,333,333 RMB-denominated 4,063,333,333
5
BOE Technology Group Co., Ltd. Third Quarter Report 2018
ordinary stock
Chongqing Ezcapital Opto-electronics Industry Investment Co., RMB-denominated
2,653,000,041 2,653,000,041
Ltd. ordinary stock
RMB-denominated
Hefei Jianxiang Investment Co., Ltd. 2,510,142,953 2,510,142,953
ordinary stock
RMB-denominated
Beijing Yizhuang Investment Holdings Co., Ltd 1,241,423,641 1,241,423,641
ordinary stock
RMB-denominated
Beijing BOE Investment & Development Co., Ltd. 822,092,180 822,092,180
ordinary stock
RMB-denominated
Hong Kong Securities Clearing Company Ltd. 493,694,620 493,694,620
ordinary stock
RMB-denominated
National Social Security Fund Portfolio 108 371,014,227 371,014,227
ordinary stock
RMB-denominated
Beijing Electronics Holdings Co., Ltd. 273,735,583 273,735,583
ordinary stock
RMB-denominated
Central Huijin Assets Management Co., Ltd 248,305,300 248,305,300
ordinary stock
RMB-denominated
China Securities Finance Corporation Limited 132,480,249 132,480,249
ordinary stock
1. Beijing State-owned Capital Operation and Management
Center held 100% equities of Beijing Electronics Holdings Co.,
Ltd.
2. Beijing Electronics Holdings Co., Ltd. held 66.25% equities of
Beijing BOE Investment & Development Co., Ltd. and was its
controlling shareholder.
3. After the non-public issuing of BOE in 2014, Hefei Jianxiang
Investment Co., Ltd. and Chongqing Capital Photoelectricity
Investment Co., Ltd., by entering into Implementation Protocol
of Voting Right respectively, agreed to maintain all of the shares
held by them respectively unanimous with Beijing BOE
Related or acting-in-concert parties among shareholders above
Investment & Development Co., Ltd. when executing the voting
rights of the shareholders.
4. After the non-public issuing of the Company in 2014, Beijing
State-owned Capital Operation and Management Center handed
over 70% of the shares directly held by it to Beijing Electronics
Holdings Co., Ltd. for management through Stock Management
Protocol, and Beijing Electronics Holdings Co., Ltd. gained the
incidental shareholders’ rights except for disposing right and
usufruct of the shares, of which the rest 30% voting right
maintained unanimous with Beijing Electronics Holdings Co.,
Ltd. through the agreement according to Implementation
6
BOE Technology Group Co., Ltd. Third Quarter Report 2018
Protocol of Voting Right.
5. Except for the above relationships, the Company does not
know any other connected party or acting-in-concert party
among the top 10 shareholders.
Top 10 ordinary shareholders involved in securities margin
Naught
trading
Indicate by tick mark whether any of the top 10 ordinary shareholders or the top 10 unrestricted ordinary shareholders of the
Company conducted any promissory repo during the Reporting Period.
□ Yea √ No
No such cases in the Reporting Period.
2. Number of Preferred Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
7
BOE Technology Group Co., Ltd. Third Quarter Report 2018
Part III Significant Events
I Changes in Selected Consolidated Financial Statement Line Items and Explanation of why
√ Applicable □ Not applicable
Unit: RMB
30 September 2018 31 December 2017 (or Change
Item Explanation of why
(or Q1~Q3 2018) Q1~Q3 2017) (%)
Mass production on new production lines and
Inventories 12,178,965,256.00 8,957,719,381.00 36%
additions to the consolidation scope
Long-term equity Shift of associate to subsidiary during the
4,036,661,192.00 6,928,854,415.00 -42%
investments current period
Construction in Rise in investments in new constructions in the
67,442,708,371.00 50,761,250,426.00 33%
progress current period
Rise in material purchases as a result of the
Notes and accounts
22,096,470,048.00 16,749,587,533.00 32% production and sales ramp-up in the current
payable
period
Current portion of
6,068,813,097.00 9,109,708,511.00 -33% Repayment of bank loans in the current period
non-current liabilities
Finance costs 2,242,661,339.00 1,413,361,041.00 59% Greater exchange loss and interest expenditure
Decline in inventory valuation allowances,
Asset impairment loss 783,454,658.00 1,757,042,642.00 -55% which were recorded at the lower of the cost
and the net realizable value
Rise in government subsidies in the current
Other investment 2,261,274,910.00 458,317,281.00 393%
period
Higher gains on wealth management products
Investment income 258,565,775.00 61,147,940.00 323%
during the current period
Net cash generated
Rise in bank loan repayments in the current
from/used in financing 11,681,695,994.00 27,057,943,017.00 -57%
period
activities
II Progress, Influence and Solutions Associated with Significant Events
√ Applicable □ Not applicable
1. The wholly-owned subsidiary, BOE Technology (Hong Kong) Co., Ltd., filed lawsuits to Beijing Municipal Higher People's Court
against following Defendants: Letv Mobile Intelligent Information Technology (Beijing) Co., Ltd. (referred to as “Letv Mobile”
hereinafter) , TV Plus Holdings (Beijing) Limited, Leseil Mobile Technology (Beijing) Co., Ltd. and JiaYueting, with the total
8
BOE Technology Group Co., Ltd. Third Quarter Report 2018
amount of claims being about US$41.84 million. Beijing Municipal Higher People's Court issued Notice of Case Acceptance and
Civil Ruling Paper for property preservation on 6 July 2017 and 31 July 2017 respectively. Letv Mobile raised the jurisdiction
objection to Beijing Municipal Higher People's Court, which was rejected, and also instituted an appeal to the Supreme People's
Court for verdict on jurisdiction objection. On 29 June 2018, the Supreme People's Court issued the final verdict to dismiss Letv
Mobile’s appeal and sustain the original ruling. For receivables corresponding to aforementioned amount of claims, the Company has
counted provision for bad debts as per regulations in accounting standard accordingly; therefore, it has uncertain influences on the
Company.
index to disclosure website
Overview of significant events Disclosure date
for interim report
Announcement on Connected Transaction regarding Participation in
31 July 2018 www.cninfo.com.cn
Beijing Electronic Control Industrial Investment Co., Ltd.
III Commitments that the Company’s Actual Controller, Shareholders, Related Parties and
Acquirers, as well as the Company Itself and Other Parties, Failed to Fulfill on Time during
Reporting Period
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IV 2018 Annual Operating Performance Forecast
Warning of a forecast loss on or a forecast significant year-on-year change in net profit for year 2018, as well as explanation of why:
□ Applicable √ Not applicable
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BOE Technology Group Co., Ltd. Third Quarter Report 2018
V Securities Investments
√ Applicable □ Not applicable
Unit: RMB
Gain/
Loss
on
fair-v
Accumulated Purchase Fundin
Security Security Initial Measurem alue Sold in Gain/loss in
Beginning fair-value d in Ending carrying Account
Security type ent chang Reporting Reporting g
code name investment cost method carrying amount es in changes charged Reportin Period Period
amount ing title
to equity g Period source
Repor
ting
Perio
d
Availabl
e-for-sal
Domestically/Ove TPV Fair value Self-fu
HK00903 134,658,158.00 21,584,703.00 0.00 -13,251,799.00 0.00 0.00 196,070.00 14,791,508.00 e
rseas listed stock Technology method nded
financial
assets
Availabl
e-for-sal
Domestically/Ove Electronic Fair value Self-fu
SH600658 90,160,428.00 108,996,372.00 0.00 23,298,083.00 0.00 0.00 1,875,523.00 69,973,707.00 e
rseas listed stock Zone method nded
financial
assets
Availabl
e-for-sal
Domestically/Ove Bank of Fair value Self-fu
HK01963 120,084,375.00 130,968,760.00 0.00 -15,895,655.00 0.00 0.00 3,033,233.00 104,188,720.00 e
rseas listed stock Chongqing method nded
financial
assets
BlackRock Availabl
Fair value Self-fu
Funds BLK Global 0.00 6,347,799.00 0.00 2,081,841.00 0.00 6,179,429.00 2,570,403.00 0.00 e-for-sal
method nded
Allocation e
10
BOE Technology Group Co., Ltd. Third Quarter Report 2018
Fund (USD) financial
A2 assets
Availabl
e-for-sal
Domestically/Ove China Fair value Self-fu
HK06066 70,041,364.00 65,856,319.00 0.00 -24,453,603.00 0.00 0.00 0.00 45,587,761.00 e
rseas listed stock Securities method nded
financial
assets
Availabl
New century e-for-sal
Domestically/Ove Fair value Self-fu
HK01518 medical 140,895,855.00 178,837,871.00 0.00 605,921.00 0.00 662,426.00 1,127,547.00 141,501,776.00 e
rseas listed stock method nded
treatment financial
assets
Availabl
Z-Obee e-for-sal
Domestically/Ove Fair value Self-fu
HK00948 Holdings 0.00 246,566.00 0.00 305,200.00 0.00 290,658.00 299,797.00 0.00 e
rseas listed stock method nded
Ltd. financial
assets
Other securities investments held at the
0.00 -- 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -- --
period-end
Total 555,840,180.00 -- 512,838,390.00 0.00 -27,310,012.00 0.00 7,132,513.00 9,102,573.00 376,043,472.00 -- --
Disclosure date of announcement on
N/A
Board’s consent for securities investments
Disclosure date of announcement on general
meeting’s consent for securities investments N/A
(if any)
11
BOE Technology Group Co., Ltd. Third Quarter Report 2018
VI Wealth Management Entrustment
√ Applicable □ Not applicable
Unit: RMB’0,000 (in RMB ten thousand yuan)
Outstanding amount
Type of wealth management Funding source Principal Overdue amount
before maturity
Wealth management product
Self-funded 1,257,000 583,200 0
purchased from bank
Total 1,257,000 583,200 0
High-risk wealth management entrustments with amounts that are individually significant, or with low security, low liquidity, or no
protection of the principal:
□ Applicable √ Not applicable
Wealth management entrustments with possible impairments including an expectedly unrecoverable principal:
□ Applicable √ Not applicable
VII Investments in Derivative Financial Instruments
□ Applicable √ Not applicable
No such cases in the Reporting Period.
VIII Visits Paid to the Company for Purposes of Research, Communication, Interview, etc.
during Reporting Period
√ Applicable □ Not applicable
Date of visit Way of visit Type of visitor About
3 July 2018 By one-on-one meeting Institution
4 July 2018 By one-on-one meeting Institution
5 July 2018 By one-on-one meeting Institution
12 July 2018 By one-on-one meeting Institution Performance of the Company for the first
half of the year and industrial situation;
17 July 2018 By one-on-one meeting Institution
Main operating information of the
18 July 2018 By one-on-one meeting Institution
Company; Technology and product
26 July 2018 By one-on-one meeting Institution innovation; Future strategic layout.
29 August 2018 By one-on-one meeting Institution
13 September 2018 By one-on-one meeting Institution
20 September 2018 By one-on-one meeting Institution
12
BOE Technology Group Co., Ltd. Third Quarter Report 2018
IX Irregularities in Provision of Guarantees for External Parties
□ Applicable √ Not applicable
No such cases in the Reporting Period.
X Occupation of the Company’s Capital by Controlling Shareholder or Its Related Parties for
Non-Operating Purposes
□ Applicable √ Not applicable
No such cases in the Reporting Period.
13
BOE Technology Group Co., Ltd. Third Quarter Report 2018
Part IV Financial Statements
I Financial Statements
1. Consolidated Balance Sheet
Prepared by BOE Technology Group Co., Ltd.
Unit: RMB
Item 30 September 2018 31 December 2017
Current assets:
Monetary capital 53,087,082,081.00 57,128,659,576.00
Settlement reserve 0.00 0.00
Interbank loans granted 0.00 0.00
Financial assets at fair value through profit or loss 0.00 0.00
Derivative financial assets 0.00 0.00
Notes and accounts receivable 19,694,977,483.00 16,347,031,379.00
Including: Notes receivable 533,324,430.00 833,268,127.00
Accounts receivable 19,161,653,053.00 15,513,763,252.00
Prepayments 987,661,510.00 587,126,751.00
Premiums receivable 0.00 0.00
Reinsurance receivables 0.00 0.00
Receivable reinsurance contract reserve 0.00 0.00
Other receivables 724,420,493.00 818,024,132.00
Financial assets purchased under resale agreements 0.00 0.00
Inventories 12,178,965,256.00 8,957,719,381.00
Assets classified as held for sale 0.00 0.00
Current portion of non-current assets 0.00 17,303,152.00
Other current assets 12,465,582,300.00 15,924,433,978.00
Total current assets 99,138,689,123.00 99,780,298,349.00
Non-current assets:
Loans and advances to customers 0.00 0.00
Available-for-sale financial assets 766,169,370.00 859,899,356.00
Held-to-maturity investments 0.00 0.00
Long-term receivables 0.00 0.00
14
BOE Technology Group Co., Ltd. Third Quarter Report 2018
Long-term equity investments 4,036,661,192.00 6,928,854,415.00
Investment property 1,268,961,384.00 1,296,662,205.00
Fixed assets 106,323,512,619.00 88,625,296,761.00
Construction in progress 67,442,708,371.00 50,761,250,426.00
Productive living assets 0.00 0.00
Oil and gas assets 0.00 0.00
Intangible assets 5,383,958,273.00 2,982,664,308.00
R&D expense 0.00 0.00
Goodwill 841,479,045.00 197,963,688.00
Long-term prepaid expense 394,830,975.00 379,829,430.00
Deferred income tax assets 185,662,548.00 106,255,657.00
Other non-current assets 3,897,426,405.00 4,189,767,254.00
Total non-current assets 190,541,370,182.00 156,328,443,500.00
Total assets 289,680,059,305.00 256,108,741,849.00
Current liabilities:
Short-term borrowings 1,563,009,194.00 3,249,736,430.00
Borrowings from central bank 0.00 0.00
Customer deposits and interbank deposits 0.00 0.00
Interbank loans obtained 0.00 0.00
Financial liabilities at fair value through profit or loss 0.00 0.00
Derivative financial liabilities 0.00 0.00
Notes and accounts payable 22,096,470,048.00 16,749,587,533.00
Advances from customers 789,492,542.00 781,324,522.00
Financial assets sold under repurchase agreements 0.00 0.00
Handling charges and commissions payable 0.00 0.00
Payroll payable 1,787,731,588.00 2,217,066,944.00
Taxes payable 673,476,286.00 775,621,146.00
Other payables 19,796,895,018.00 16,122,413,130.00
Reinsurance payables 0.00 0.00
Insurance contract reserve 0.00 0.00
Payables for acting trading of securities 0.00 0.00
Payables for underwriting of securities 0.00 0.00
Liabilities directly associated with assets classified as
0.00 0.00
held for sale
Current portion of non-current liabilities 6,068,813,097.00 9,109,708,511.00
15
BOE Technology Group Co., Ltd. Third Quarter Report 2018
Other current liabilities 1,102,987,556.00 730,709,590.00
Total current liabilities 53,878,875,329.00 49,736,167,806.00
Non-current liabilities:
Long-term borrowings 91,696,478,647.00 78,973,633,010.00
Bonds payable 9,973,978,795.00 9,966,467,496.00
Including: Preferred shares 0.00 0.00
Perpetual bonds 0.00 0.00
Long-term payables 1,549,439,574.00 1,176,250,982.00
Long-term payroll payable 0.00 0.00
Provisions 16,457,010.00 16,457,010.00
Deferred income 8,115,602,224.00 2,261,955,307.00
Deferred income tax liabilities 1,340,866,351.00 563,302,910.00
Other non-current liabilities 10,418,882,740.00 9,130,244,495.00
Total non-current liabilities 123,111,705,341.00 102,088,311,210.00
Total liabilities 176,990,580,670.00 151,824,479,016.00
Owners’ equity:
Share capital 34,798,398,763.00 34,798,398,763.00
Other equity instruments 0.00 0.00
Including: Preferred shares 0.00 0.00
Perpetual bonds 0.00 0.00
Capital reserves 38,262,622,157.00 38,585,515,122.00
Less: Treasury stock 0.00 0.00
Other comprehensive income -156,565,476.00 150,602,933.00
Specific reserve 0.00 0.00
Surplus reserves 889,640,475.00 889,640,475.00
General reserve 0.00 0.00
Retained earnings 12,024,709,526.00 10,385,659,084.00
Total equity attributable to owners of the Company as the 85,818,805,445.00
84,809,816,377.00
parent
Non-controlling interests 26,870,673,190.00 19,474,446,456.00
Total owners’ equity 112,689,478,635.00 104,284,262,833.00
Total liabilities and owners’ equity 289,680,059,305.00 256,108,741,849.00
Legal representative: Wang Dongsheng Chief Financial Officer: Sun Yun Financial Officer: Yang Xiaoping
16
BOE Technology Group Co., Ltd. Third Quarter Report 2018
2. Balance Sheet of the Company as the Parent
Unit: RMB
Item 30 September 2018 31 December 2017
Current assets:
Monetary capital 4,737,795,583.00 2,990,801,501.00
Financial assets at fair value through profit or loss 0.00 0.00
Derivative financial assets 0.00 0.00
Notes and accounts receivable 41,692,757.00 39,897,385.00
Including: Notes receivable 1,000,000.00 0.00
Accounts receivable 40,692,757.00 39,897,385.00
Prepayments 58,539,027.00 10,315,083.00
Other receivables 1,924,663,029.00 1,835,131,720.00
Inventories 12,722,646.00 12,751,847.00
Assets classified as held for sale 0.00 0.00
Current portion of non-current assets 632,000,000.00 3,648,840,000.00
Other current assets 7,531,966.00 61,082,075.00
Total current assets 7,414,945,008.00 8,598,819,611.00
Non-current assets:
Available-for-sale financial assets 103,453,247.00 149,269,107.00
Held-to-maturity investments 0.00 0.00
Long-term receivables 0.00 0.00
Long-term equity investments 139,837,379,654.00 121,193,680,391.00
Investment property 291,365,998.00 292,544,063.00
Fixed assets 963,926,933.00 982,985,346.00
Construction in progress 250,593,462.00 274,400,649.00
Productive living assets 0.00 0.00
Oil and gas assets 0.00 0.00
Intangible assets 499,452,594.00 530,490,988.00
R&D expense 0.00 0.00
Goodwill 0.00 0.00
Long-term prepaid expense 108,134,949.00 112,776,691.00
Deferred income tax assets 98,549,668.00 150,206,185.00
Other non-current assets 301,965,295.00 480,909,226.00
Total non-current assets 142,454,821,800.00 124,167,262,646.00
17
BOE Technology Group Co., Ltd. Third Quarter Report 2018
Total assets 149,869,766,808.00 132,766,082,257.00
Current liabilities:
Short-term borrowings 0.00 0.00
Financial liabilities at fair value through profit or loss 0.00 0.00
Derivative financial liabilities 0.00 0.00
Notes and accounts payable 42,992,846.00 50,152,503.00
Advances from customers 1,727,192,663.00 1,375,022,585.00
Payroll payable 170,319,668.00 283,000,193.00
Taxes payable 61,130,646.00 119,584,927.00
Other payables 7,391,716,205.00 10,032,392,970.00
Liabilities directly associated with assets classified as
0.00 0.00
held for sale
Current portion of non-current liabilities 3,090,000,000.00 4,031,840,000.00
Other current liabilities 0.00 0.00
Total current liabilities 12,483,352,028.00 15,891,993,178.00
Non-current liabilities:
Long-term borrowings 26,720,000,000.00 23,943,000,000.00
Bonds payable 9,973,978,795.00 9,966,467,496.00
Including: Preferred shares 0.00 0.00
Perpetual bonds 0.00 0.00
Long-term payables 0.00 0.00
Long-term payroll payable 0.00 0.00
Provisions 0.00 0.00
Deferred income 5,742,736,897.00 130,652,127.00
Deferred income tax liabilities 0.00 0.00
Other non-current liabilities 19,150,000,000.00 7,600,000,000.00
Total non-current liabilities 61,586,715,692.00 41,640,119,623.00
Total liabilities 74,070,067,720.00 57,532,112,801.00
Owners’ equity:
Share capital 34,798,398,763.00 34,798,398,763.00
Other equity instruments 0.00 0.00
Including: Preferred shares 0.00 0.00
Perpetual bonds 0.00 0.00
Capital reserves 37,590,966,191.00 37,588,541,593.00
Less: Treasury stock 0.00 0.00
18
BOE Technology Group Co., Ltd. Third Quarter Report 2018
Other comprehensive income 153,154,008.00 192,097,489.00
Specific reserve 0.00 0.00
Surplus reserves 889,640,475.00 889,640,475.00
Retained earnings 2,367,539,651.00 1,765,291,136.00
Total owners’ equity 75,799,699,088.00 75,233,969,456.00
Total liabilities and owners’ equity 149,869,766,808.00 132,766,082,257.00
3. Consolidated Income Statement for Q3
Unit: RMB
Item Q3 2018 Q3 2017
1. Revenue 25,990,508,323.00 24,803,328,149.00
Including: Operating revenue 25,990,508,323.00 24,803,328,149.00
Interest income 0.00 0.00
Premium income 0.00 0.00
Handling charge and commission income 0.00 0.00
2. Operating costs and expenses 26,024,312,239.00 22,425,267,847.00
Including: Cost of sales 21,245,420,721.00 19,040,130,225.00
Interest expense 0.00 0.00
Handling charge and commission expense 0.00 0.00
Surrenders 0.00 0.00
Net claims paid 0.00 0.00
Net amount provided as insurance contract
0.00 0.00
reserve
Expenditure on policy dividends 0.00 0.00
Reinsurance premium expense 0.00 0.00
Taxes and surcharges 200,057,483.00 144,335,774.00
Selling expense 751,560,070.00 760,132,128.00
Administrative expense 1,471,377,632.00 568,679,877.00
R&D expense 989,103,251.00 1,264,145,472.00
Finance costs 1,041,487,684.00 314,247,859.00
Including: Interest expense 852,142,227.00 524,655,338.00
Interest income 195,757,126.00 229,837,025.00
Asset impairment loss 325,305,398.00 333,596,512.00
Add: Other income 357,114,751.00 183,014,417.00
19
BOE Technology Group Co., Ltd. Third Quarter Report 2018
Investment income (“-” for loss) 91,641,762.00 41,985,789.00
Including: Share of profit or loss of joint
-2,412,689.00 4,320,922.00
ventures and associates
Gain on changes in fair value (“-” for loss) 0.00 0.00
Foreign exchange gain (“-” for loss) 0.00 0.00
Asset disposal income (“-” for loss) -431,247.00 527,112.00
3. Operating profit (“-” for loss) 414,521,350.00 2,603,587,620.00
Add: Non-operating income 32,215,068.00 45,382,701.00
Less: Non-operating expense 25,909,519.00 36,738,470.00
4. Profit before tax (“-” for loss) 420,826,899.00 2,612,231,851.00
Less: Income tax expense 279,701,576.00 412,765,482.00
5. Net profit (“-” for net loss) 141,125,323.00 2,199,466,369.00
5.1 Net profit from continuing operations (“-” for net 141,125,323.00
2,199,466,369.00
loss)
5.2 Net profit from discontinued operations (“-” for net
0.00 0.00
loss)
Net profit attributable to owners of the Company as the
403,860,235.00 2,173,061,620.00
parent
Net profit attributable to non-controlling interests -262,734,912.00 26,404,749.00
6. Other comprehensive income, net of tax -19,565,137.00 -21,113,647.00
Attributable to owners of the Company as the parent -68,881,892.00 -4,000,944.00
6.1 Items that will not be reclassified to profit or
0.00 0.00
loss
6.1.1 Changes in net liabilities or assets caused by
0.00 0.00
remeasurements on defined benefit pension schemes
6.1.2 Share of other comprehensive income of
investees that will not be reclassified to profit or loss 0.00 0.00
under equity method
6.2 Items that may subsequently be reclassified to
-68,881,892.00 -4,000,944.00
profit or loss
6.2.1 Share of other comprehensive income of
investees that will be reclassified to profit or loss under 0.00 0.00
equity method
6.2.2 Gain/Loss on changes in fair value of
-51,328,248.00 21,235,545.00
available-for-sale financial assets
6.2.3 Gain/Loss arising from reclassification of
held-to-maturity investments to available-for-sale 0.00 0.00
financial assets
6.2.4 Effective gain/loss on cash flow hedges 0.00 0.00
20
BOE Technology Group Co., Ltd. Third Quarter Report 2018
6.2.5 Differences arising from translation of
-17,553,644.00 -25,236,489.00
foreign currency-denominated financial statements
6.2.6 Other 0.00 0.00
Attributable to non-controlling interests 49,316,755.00 -17,112,703.00
7. Total comprehensive income 121,560,186.00 2,178,352,722.00
Attributable to owners of the Company as the parent 334,978,343.00 2,169,060,676.00
Attributable to non-controlling interests -213,418,157.00 9,292,046.00
8. Earnings per share
8.1 Basic earnings per share 0.012 0.062
8.2 Diluted earnings per share 0.012 0.062
Where business combinations under common control occurred in the current period, the net profit achieved by the acquirees before
the combinations was RMB0.00, with the amount for the same period of last year being RMB0.00.
Legal representative: Wang Dongsheng Chief Financial Officer: Sun Yun Financial Officer: Yang Xiaoping
4. Income Statement of the Company as the Parent for Q3
Unit: RMB
Item Q3 2018 Q3 2017
1. Operating revenue 880,896,282.00 529,426,781.00
Less: Cost of sales 11,375,516.00 22,804,344.00
Taxes and surcharges 10,756,707.00 449,900.00
Selling expense 114,342.00 169,256.00
Administrative expense 208,556,956.00 145,362,352.00
R&D expense 333,106,008.00 247,715,348.00
Finance costs 287,967,713.00 131,735,582.00
Including: Interest expense 296,503,529.00 140,397,611.00
Interest income 10,680,666.00 13,503,667.00
Asset impairment loss 0.00 0.00
Add: Other income 230,746,114.00 10,259,445.00
Investment income (“-” for loss) -2,272,624.00 4,182,766.00
Including: Share of profit or loss of joint
-2,281,972.00 4,320,922.00
ventures and associates
Gain on changes in fair value (“-” for loss) 0.00 0.00
Asset disposal income (“-” for loss) 0.00 0.00
2. Operating profit (“-” for loss) 257,492,530.00 -4,367,790.00
Add: Non-operating income 1,026,267.00 211,963.00
21
BOE Technology Group Co., Ltd. Third Quarter Report 2018
Less: Non-operating expense 1,532,297.00 121,522.00
3. Profit before tax (“-” for loss) 256,986,500.00 -4,277,349.00
Less: Income tax expense 30,344,396.00 0.00
4. Net profit (“-” for net loss) 226,642,104.00 -4,277,349.00
4.1 Net profit from continuing operations (“-” for net
226,642,104.00 -4,277,349.00
loss)
4.2 Net profit from discontinued operations (“-” for net
0.00 0.00
loss)
5. Other comprehensive income, net of tax -4,076,480.00 -27,332,567.00
5.1 Items that will not be reclassified to profit or loss 0.00 0.00
5.1.1 Changes in net liabilities or assets caused by
0.00 0.00
remeasurements on defined benefit pension schemes
5.1.2 Share of other comprehensive income of
investees that will not be reclassified to profit or loss 0.00 0.00
under equity method
5.2 Items that may subsequently be reclassified to
-4,076,480.00 -27,332,567.00
profit or loss
5.2.1 Share of other comprehensive income of
investees that will be reclassified to profit or loss under 0.00 0.00
equity method
5.2.2 Gain/Loss on changes in fair value of
-4,076,480.00 -27,332,567.00
available-for-sale financial assets
5.2.3 Gain/Loss arising from reclassification of
held-to-maturity investments to available-for-sale 0.00 0.00
financial assets
5.2.4 Effective gain/loss on cash flow hedges 0.00 0.00
5.2.5 Differences arising from translation of foreign
0.00 0.00
currency-denominated financial statements
5.2.6 Other 0.00 0.00
6. Total comprehensive income 222,565,624.00 -31,609,916.00
7. Earnings per share
7.1 Basic earnings per share 0.0065 -0.0001
7.2 Diluted earnings per share 0.0065 -0.0001
5. Consolidated Income Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2018 Q1~Q3 2017
1. Revenue 69,464,413,289.00 69,408,356,144.00
22
BOE Technology Group Co., Ltd. Third Quarter Report 2018
Including: Operating revenue 69,464,413,289.00 69,408,356,144.00
Interest income 0.00 0.00
Premium income 0.00 0.00
Handling charge and commission income 0.00 0.00
2. Operating costs and expenses 68,169,468,906.00 61,820,017,178.00
Including: Cost of sales 56,390,002,852.00 51,275,396,814.00
Interest expense 0.00 0.00
Handling charge and commission expense 0.00 0.00
Surrenders 0.00 0.00
Net claims paid 0.00 0.00
Net amount provided as insurance contract
0.00 0.00
reserve
Expenditure on policy dividends 0.00 0.00
Reinsurance premium expense 0.00 0.00
Taxes and surcharges 502,623,237.00 500,036,766.00
Selling expense 2,046,342,664.00 1,988,692,991.00
Administrative expense 3,615,086,182.00 2,670,203,499.00
R&D expense 2,589,297,974.00 2,215,283,425.00
Finance costs 2,242,661,339.00 1,413,361,041.00
Including: Interest expense 2,279,883,467.00 1,756,184,975.00
Interest income 541,745,812.00 606,657,457.00
Asset impairment loss 783,454,658.00 1,757,042,642.00
Add: Other income 2,261,274,910.00 458,317,281.00
Investment income (“-” for loss) 258,565,775.00 61,147,940.00
Including: Share of profit or loss of joint
-31,991,268.00 -9,369,632.00
ventures and associates
Gain on changes in fair value (“-” for loss) 0.00 0.00
Foreign exchange gain (“-” for loss) 0.00 0.00
Asset disposal income (“-” for loss) -589,758.00 -2,593,427.00
3. Operating profit (“-” for loss) 3,814,195,310.00 8,105,210,760.00
Add: Non-operating income 128,856,936.00 98,913,684.00
Less: Non-operating expense 33,563,330.00 57,068,973.00
4. Profit before tax (“-” for loss) 3,909,488,916.00 8,147,055,471.00
Less: Income tax expense 939,270,136.00 1,353,027,097.00
5. Net profit (“-” for net loss) 2,970,218,780.00 6,794,028,374.00
23
BOE Technology Group Co., Ltd. Third Quarter Report 2018
5.1 Net profit from continuing operations (“-” for net
2,970,218,780.00 6,794,028,374.00
loss)
5.2 Net profit from discontinued operations (“-” for net
0.00 0.00
loss)
Net profit attributable to owners of the Company as the
3,379,066,735.00 6,475,667,220.00
parent
Net profit attributable to non-controlling interests -408,847,955.00 318,361,154.00
6. Other comprehensive income, net of tax -242,834,533.00 -35,115,613.00
Attributable to owners of the Company as the parent -307,168,409.00 5,367,252.00
6.1 Items that will not be reclassified to profit or
0.00 0.00
loss
6.1.1 Changes in net liabilities or assets caused by
0.00 0.00
remeasurements on defined benefit pension schemes
6.1.2 Share of other comprehensive income of
investees that will not be reclassified to profit or loss 0.00 0.00
under equity method
6.2 Items that may subsequently be reclassified to
-307,168,409.00 5,367,252.00
profit or loss
6.2.1 Share of other comprehensive income of
investees that will be reclassified to profit or loss under 0.00 0.00
equity method
6.2.2 Gain/Loss on changes in fair value of
-142,383,300.00 19,080,453.00
available-for-sale financial assets
6.2.3 Gain/Loss arising from reclassification of
held-to-maturity investments to available-for-sale 0.00 0.00
financial assets
6.2.4 Effective gain/loss on cash flow hedges 0.00 0.00
6.2.5 Differences arising from translation of
-164,785,109.00 -13,713,201.00
foreign currency-denominated financial statements
6.2.6 Other 0.00 0.00
Attributable to non-controlling interests 64,333,876.00 -40,482,865.00
7. Total comprehensive income 2,727,384,247.00 6,758,912,761.00
Attributable to owners of the Company as the parent 3,071,898,326.00 6,481,034,472.00
Attributable to non-controlling interests -344,514,079.00 277,878,289.00
8. Earnings per share
8.1 Basic earnings per share 0.097 0.185
8.2 Diluted earnings per share 0.097 0.185
Where business combinations under common control occurred in the current period, the net profit achieved by the acquirees before
the combinations was RMB0.00, with the amount for the same period of last year being RMB0.00.
24
BOE Technology Group Co., Ltd. Third Quarter Report 2018
6. Income Statement of the Company as the Parent for Q1~Q3
Unit: RMB
Item Q1~Q3 2018 Q1~Q3 2017
1. Operating revenue 3,027,757,238.00 1,234,889,796.00
Less: Cost of sales 24,162,249.00 28,474,942.00
Taxes and surcharges 34,788,558.00 19,019,285.00
Selling expense 547,948.00 1,190,400.00
Administrative expense 535,278,413.00 387,637,790.00
R&D expense 826,657,662.00 689,780,098.00
Finance costs 666,905,601.00 337,091,462.00
Including: Interest expense 696,539,636.00 376,890,181.00
Interest income 31,590,749.00 51,167,887.00
Asset impairment loss 0.00 0.00
Add: Other income 763,173,779.00 19,888,228.00
Investment income (“-” for loss) 882,196,406.00 598,700,736.00
Including: Share of profit or loss of joint
-19,884,534.00 -9,369,632.00
ventures and associates
Gain on changes in fair value (“-” for loss) 0.00 0.00
Asset disposal income (“-” for loss) 0.00 -110,106.00
2. Operating profit (“-” for loss) 2,584,786,992.00 390,174,677.00
Add: Non-operating income 4,344,115.00 2,442,585.00
Less: Non-operating expense 2,108,640.00 797,870.00
3. Profit before tax (“-” for loss) 2,587,022,467.00 391,819,392.00
Less: Income tax expense 244,757,659.00 7,327,135.00
4. Net profit (“-” for net loss) 2,342,264,808.00 384,492,257.00
4.1 Net profit from continuing operations (“-” for net
2,342,264,808.00 384,492,257.00
loss)
4.2 Net profit from discontinued operations (“-” for net
0.00 0.00
loss)
5. Other comprehensive income, net of tax -38,943,481.00 -21,301,621.00
5.1 Items that will not be reclassified to profit or loss 0.00 0.00
5.1.1 Changes in net liabilities or assets caused by
0.00 0.00
remeasurements on defined benefit pension schemes
5.1.2 Share of other comprehensive income of
investees that will not be reclassified to profit or loss 0.00 0.00
under equity method
25
BOE Technology Group Co., Ltd. Third Quarter Report 2018
5.2 Items that may subsequently be reclassified to
-38,943,481.00 -21,301,621.00
profit or loss
5.2.1 Share of other comprehensive income of
investees that will be reclassified to profit or loss under 0.00 0.00
equity method
5.2.2 Gain/Loss on changes in fair value of
-38,943,481.00 -21,301,621.00
available-for-sale financial assets
5.2.3 Gain/Loss arising from reclassification of
held-to-maturity investments to available-for-sale 0.00 0.00
financial assets
5.2.4 Effective gain/loss on cash flow hedges 0.00 0.00
5.2.5 Differences arising from translation of foreign
0.00 0.00
currency-denominated financial statements
5.2.6 Other 0.00 0.00
6. Total comprehensive income 2,303,321,327.00 363,190,636.00
7. Earnings per share
7.1 Basic earnings per share 0.0673 0.0110
7.2 Diluted earnings per share 0.0673 0.0110
7. Consolidated Cash Flow Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2018 Q1~Q3 2017
1. Cash flows from operating activities:
Proceeds from sale of commodities and rendering of
60,772,530,957.00 68,660,537,726.00
services
Net increase in customer deposits and interbank
0.00 0.00
deposits
Net increase in borrowings from central bank 0.00 0.00
Net increase in loans from other financial institutions 0.00 0.00
Premiums received on original insurance contracts 0.00 0.00
Net proceeds from reinsurance 0.00 0.00
Net increase in deposits and investments of policy
0.00 0.00
holders
Net increase in proceeds from disposal of financial
0.00 0.00
assets at fair value through profit or loss
Interest, handling charges and commissions received 0.00 0.00
Net increase in interbank loans obtained 0.00 0.00
Net increase in proceeds from repurchase transactions 0.00 0.00
26
BOE Technology Group Co., Ltd. Third Quarter Report 2018
Tax rebates 6,005,730,169.00 6,141,348,934.00
Cash generated from other operating activities 4,515,605,387.00 1,189,087,137.00
Subtotal of cash generated from operating activities 71,293,866,513.00 75,990,973,797.00
Payments for commodities and services 38,238,359,784.00 43,814,203,995.00
Net increase in loans and advances to customers 0.00 0.00
Net increase in deposits in central bank and in
0.00 0.00
interbank loans granted
Payments for claims on original insurance contracts 0.00 0.00
Interest, handling charges and commissions paid 0.00 0.00
Policy dividends paid 0.00 0.00
Cash paid to and for employees 7,486,983,925.00 6,008,117,704.00
Taxes paid 2,335,162,753.00 3,219,791,480.00
Cash used in other operating activities 4,935,757,639.00 4,457,853,330.00
Subtotal of cash used in operating activities 52,996,264,101.00 57,499,966,509.00
Net cash generated from/used in operating activities 18,297,602,412.00 18,491,007,288.00
2. Cash flows from investing activities:
Proceeds from disinvestment 56,395,382,400.00 16,678,325,660.00
Investment income 640,439,103.00 253,736,670.00
Net proceeds from disposal of fixed assets, intangible
24,665,452.00 58,162,797.00
assets and other long-lived assets
Net proceeds from disposal of subsidiaries or other
0.00 0.00
business units
Cash generated from other investing activities 3,417,013,120.00 2,713,352,560.00
Subtotal of cash generated from investing activities 60,477,500,075.00 19,703,577,687.00
Payments for acquisition of fixed assets, intangible
37,753,522,657.00 35,760,451,600.00
assets and other long-lived assets
Payments for investments 54,265,549,688.00 30,495,761,172.00
Net increase in pledged loans granted 0.00 0.00
Net payments for acquisition of subsidiaries and other
0.00 8,399,081.00
business units
Cash used in other investing activities 505,424,898.00 1,150,788,952.00
Subtotal of cash used in investing activities 92,524,497,243.00 67,415,400,805.00
Net cash generated from/used in investing activities -32,046,997,168.00 -47,711,823,118.00
3. Cash flows from financing activities:
Capital contributions received 4,212,024,400.00 11,505,150,000.00
Including: Capital contributions by non-controlling
4,212,024,400.00 11,505,150,000.00
interests to subsidiaries
27
BOE Technology Group Co., Ltd. Third Quarter Report 2018
Increase in borrowings obtained 28,080,875,769.00 32,033,861,904.00
Net proceeds from issuance of bonds 0.00 0.00
Cash generated from other financing activities 1,831,147,947.00 14,496,263.00
Subtotal of cash generated from financing activities 34,124,048,116.00 43,553,508,167.00
Repayment of borrowings 16,354,302,160.00 11,236,228,804.00
Payments for interest and dividends 5,874,569,087.00 4,307,704,845.00
Including: Dividends paid by subsidiaries to
0.00 0.00
non-controlling interests
Cash used in other financing activities 213,480,875.00 951,631,501.00
Subtotal of cash used in financing activities 22,442,352,122.00 16,495,565,150.00
Net cash generated from/used in financing activities 11,681,695,994.00 27,057,943,017.00
4. Effect of foreign exchange rate changes on cash and
827,974,389.00 -927,057,213.00
cash equivalents
5. Net increase in cash and cash equivalents -1,239,724,373.00 -3,089,930,026.00
Add: Cash and cash equivalents, beginning of the period 47,913,287,583.00 49,354,810,388.00
6. Cash and cash equivalents, end of the period 46,673,563,210.00 46,264,880,362.00
8. Cash Flow Statement of the Company as the Parent for Q1~Q3
Unit: RMB
Item Q1~Q3 2018 Q1~Q3 2017
1. Cash flows from operating activities:
Proceeds from sale of commodities and rendering of
3,396,625,349.00 879,853,858.00
services
Tax rebates 25,803,518.00 13,333,576.00
Cash generated from other operating activities 624,672,967.00 614,660,499.00
Subtotal of cash generated from operating activities 4,047,101,834.00 1,507,847,933.00
Payments for commodities and services 398,673,820.00 331,019,244.00
Cash paid to and for employees 699,458,250.00 539,284,451.00
Taxes paid 367,901,747.00 220,220,479.00
Cash used in other operating activities 234,107,331.00 2,862,076,874.00
Subtotal of cash used in operating activities 1,700,141,148.00 3,952,601,048.00
Net cash generated from/used in operating activities 2,346,960,686.00 -2,444,753,115.00
2. Cash flows from investing activities:
Proceeds from disinvestment 506,160,000.00 0.00
Investment income 785,144,132.00 1,605,616,700.00
Net proceeds from disposal of fixed assets, intangible 232,676.00 2,096.00
28
BOE Technology Group Co., Ltd. Third Quarter Report 2018
assets and other long-lived assets
Net proceeds from disposal of subsidiaries or other
0.00 0.00
business units
Cash generated from other investing activities 3,516,832,697.00 1,114,275,822.00
Subtotal of cash generated from investing activities 4,808,369,505.00 2,719,894,618.00
Payments for acquisition of fixed assets, intangible
221,434,709.00 132,200,597.00
assets and other long-lived assets
Payments for investments 18,757,457,360.00 17,159,624,980.00
Net payments for acquisition of subsidiaries and other
0.00 0.00
business units
Cash used in other investing activities 200,000,400.00 700,921,165.00
Subtotal of cash used in investing activities 19,178,892,469.00 17,992,746,742.00
Net cash generated from/used in investing activities -14,370,522,964.00 -15,272,852,124.00
3. Cash flows from financing activities:
Capital contributions received 0.00 0.00
Increase in borrowings obtained 10,367,000,000.00 15,833,000,000.00
Net proceeds from issuance of bonds 0.00 0.00
Cash generated from other financing activities 16,993,246,939.00 3,880,581.00
Subtotal of cash generated from financing activities 27,360,246,939.00 15,836,880,581.00
Repayment of borrowings 3,932,732,992.00 0.00
Payments for interest and dividends 2,255,848,689.00 1,566,799,827.00
Cash used in other financing activities 7,500,000,000.00 609,376,971.00
Sub-total of cash used in financing activities 13,688,581,681.00 2,176,176,798.00
Net cash generated from/used in financing activities 13,671,665,258.00 13,660,703,783.00
4. Effect of foreign exchange rate changes on cash and
98,891,103.00 -7,909,075.00
cash equivalents
5. Net increase in cash and cash equivalents 1,746,994,083.00 -4,064,810,531.00
Add: Cash and cash equivalents, beginning of the period 2,990,801,501.00 7,548,700,412.00
6. Cash and cash equivalents, end of the period 4,737,795,584.00 3,483,889,881.00
II Independent Auditor’s Report
Indicate by tick mark whether the financial statements above have been audited by an independent auditor. □Yes √ No
These financial statements have not been audited by such an auditor.
Chairman of the Board (signature)：
Wang Dongsheng
Date of the Board’s approval of this Report: 26 October 2018
29