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京东方B:2019年第三季度报告全文(英文版)2019-10-31  

						THIRD QUARTER REPORT 2019




        October 2019
    BOE Technology Group Co., Ltd.                                         Third Quarter Report 2019




                                     Part I Important Notes

The Board of Directors (or the “Board”), the Supervisory Committee as well as the directors,
supervisors and senior manage ment 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 mate rial omissions therein.
All the Company’s directors have attended the Board meeting for the review of this Report
and its summary.
Mr. Chen Yanshun, the Company’s legal representative, Mr. Liu Xiaodong, 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 departme nt
(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.




                                                                                                  2
         BOE Technology Group Co., Ltd.                                                                       Third Quarter Report 2019




                                    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

Reasons for the retrospective restatements:
Changes to the accounting policies.

                                                                                    31 December 2018                   Change (%)
                   Item                       30 September 2019
                                                                            Before                 Restated               Restated

Total assets (RMB)                             324,400,678,094.00      304,028,491,385.00 304,028,491,385.00                     6.70%

Equity attributable to the listed
                                                86,762,736,301.00       85,856,748,703.00       85,856,748,703.00                1.06%
company’s shareholders (RM B)

                   Item                              Q3 2019           YoY change (%)            Q1-Q3 2019           YoY change (%)

Operating revenue (RM B)                        30,682,823,546.00                     18.05%    85,722,032,233.00               23.40%

Net profit attributable to the listed
                                                     183,791,110.00                  -54.49%     1,852,239,559.00              -45.18%
company’s shareholders (RM B)

Net profit attributable to the listed
company’s shareholders before                       -840,490,839.00                -332.16%      -189,000,405.00             -110.13%
exceptional items (RM B)

Net cash generated from/used in
                                                       --                      --               16,526,989,409.00              -10.37%
operating activities (RM B)

Basic earnings per share (RM B/share)                          0.005                 -58.33%                  0.053            -45.36%

Diluted earnings per share (RM B/share)                        0.005                 -58.33%                  0.053            -45.36%

Weighted average return on equity (%)                          0.21%                 -55.32%               2.14%               -45.41%

Notes:
In the 2018 Annual Report, the net profit attributable to the listed company’s shareholders before exceptional gains and losses was
restated according to the audit results. According to the interpretations of the regulatory document CK [2018] No.15, government
subsidies received, whether related to assets or income, shall be presented as cash generated from operating activities” in the cash
flow statements. Above adjustment has no influence on total assets and equity attributable to the listed company ’s shareholders for
the end of last year.

Exceptional gains and losses:
√ Applicable □ Not applicable

                                                                                                                              Unit: RM B

                                              Item                                                     Q1-Q3 2019             Note

Gain or loss on disposal of non-current assets (inclusive of impairment allowance write-offs)            -10,469,354.00       N/A



                                                                                                                                         3
         BOE Technology Group Co., Ltd.                                                                   Third Quarter Report 2019


Tax rebates, reductions and exemptions with ultra vires approval or in lack of duly approved
                                                                                                                0.00    N/A
document

Government subsidies charged to current profit and loss (exclusive of government subsidies
given in the Company’s ordinary course of business at fixed quotas or amounts as per               1,433,252,399.00    N/A
government’s uniform standards )

Capital occupation charges on non-financial enterprises that are charged to current gains and
                                                                                                                0.00    N/A
losses

Income 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 value                  0.00    N/A
of identifiable net assets of investees when making investments

Gains and losses on non-monetary asset swap                                                                     0.00    N/A

Gains and losses on investment or asset management entrustments to other entities                               0.00    N/A

Allowance for asset impairments due to acts of God such as natural disasters                                    0.00    N/A

Gains and losses on debt restructuring                                                                          0.00    N/A

Restructuring costs in staff arrangement, integration, etc.                                                     0.00    N/A

Gains and losses on over-fair value amount as a result of transactions with distinctly unfair
                                                                                                                0.00    N/A
prices

Current gains and losses on subsidiaries acquired through business mergers under same
                                                                                                                0.00    N/A
control from period-beginning to merger dates, net

Gains and losses 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 and derivative
financial assets and liabilities & investment income from disposal of trading financial assets
and liabilities and derivative financial assets and liabilities, and other creditors’ investment     86,944,711.00     N/A
(exclusive of effective portion of hedges that arise in the Company’s ordinary course of
business)

Reversed portion of impairment allowance for accounts receivable and contract assets which
                                                                                                         393,516.00     N/A
are tested individually for impairment

Gains and losses on loan entrustment                                                                            0.00    N/A

Gains and losses 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 gains and losses

Income from charges on entrusted management                                                                     0.00    N/A

Non-operating income and expense other than above                                                     63,888,377.00     N/A

Other gains and losses that meet definition of nonrecurring gain/loss                                795,126,980.00     N/A

Less: Income tax effects                                                                              87,489,641.00     N/A

     Non-controlling interests effects (net of tax)                                                  240,407,024.00     N/A


                                                                                                                                 4
         BOE Technology Group Co., Ltd.                                                                        Third Quarter Report 2019


Total                                                                                                 2,041,239,964.00           --
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

             Item                  Amount                                               Reason

                                                  The Company undertook the transfer and share swap obligations for investments
                                                  from non-controlling interests of the Company ’s subsidiary Hefei Xinsheng
                                                  Optoelectronics Technology Co., Ltd. (hereinafter referred to as “Hefei Xinsheng”),
                                                  which was recorded into financial liabilities as applicable accounting standards
                                                  related to financial instruments. During the Reporting Period, the Company signed
Other gains and losses that
                                                  the Equity Transfer Agreement with Hefei Heping Investment Company Limited
meet definition of               795,126,980.00
                                                  (hereinafter referred to as “Hefei Heping”), in which the Company was agreed to be
nonrecurring gain/loss
                                                  transferred the 15.3846% shares in Hefei Xinsheng h eld by Hefei Heping. Once
                                                  upon completion of this transfer, Hefei Xinsheng will be a wholly -owned subsidiary
                                                  of the Company. The difference of RM B795,126,980.00 between the cash payment
                                                  and carrying financial liabilities was recorded into the current profit or loss as
                                                  required by standards.


II Total Numbe r of Shareholde rs and Holdings of Top 10 Shareholde rs at 30 September 2019

1. Numbers of Ordinary Shareholders and Preferred Shareholders with Resumed Voting Rights as well as
Holdings of Top 10 Shareholders

                                                                                                                                Unit: share

Number of ordinary shareholders                       1,434,390 (including 1,394,366 A-shareholders and 40,024 B-shareholders)

                                                           Top 10 shareholders

                                                                                                                      Shares in pledge or
                                                                 Shareholding      Number of        Restricted
         Name of shareholder            Nature of shareholder                                                               frozen
                                                                   percentage        shares           shares
                                                                                                                       Status     Shares

Beijing State-owned Capital            State-owned legal
                                                                       11.68%      4,063,333,333                  0     N/A             0
Operation and M anagement Center person

Chongqing Capital Opto-electronic State-owned legal
                                                                           7.60%   2,643,863,541                  0     N/A             0
Industry Investment Co., Ltd.          person

Hefei Jianxiang Investment Co.,        State-owned legal
                                                                           7.21%   2,510,142,953                  0     N/A             0
Ltd.                                   person

Beijing Yizhuang Investment            State-owned legal
                                                                           3.36%   1,168,209,006                  0     N/A             0
Holdings Co., Ltd                      person

Beijing BOE Investment &               State-owned legal
                                                                           2.36%    822,092,180                   0     N/A             0
Development Co., Ltd.                  person




                                                                                                                                            5
       BOE Technology Group Co., Ltd.                                                                        Third Quarter Report 2019


Hong Kong Securities Clearing
                                       Foreign legal person           1.37%       477,597,769                   0    N/A           0
Company Ltd.

Beijing Electronics Holdings Co.,      State-owned legal
                                                                      0.79%       273,735,583                   0    N/A           0
Ltd.                                   person

Central Huijin Assets M anagement      State-owned legal
                                                                      0.71%       248,305,300                   0    N/A           0
Co., Ltd                               person

                                       Domestic
Xiamen Hengxing Group Co., Ltd.        non-state-owned legal          0.47%       163,345,478                   0    N/A           0
                                       person

                                       Domestic
China Securities Finance
                                       non-state-owned legal          0.38%       132,480,249                   0    N/A           0
Corporation Limited
                                       person

                                                  Top 10 unrestricted shareholders

                                                                                                    Shares by type
        Name of shareholder                     Unrestricted shares
                                                                                            Type                        Shares

Beijing State-owned Capital
                                                               4,063,333,333 RM B-denominated ordinary stock           4,063,333,333
Operation and M anagement Center

Chongqing Capital Opto-electronic
                                                               2,643,863,541 RM B-denominated ordinary stock           2,643,863,541
Industry Investment Co., Ltd.

Hefei Jianxiang Investment Co.,
                                                               2,510,142,953 RM B-denominated ordinary stock           2,510,142,953
Ltd.

Beijing Yizhuang Investment
                                                               1,168,209,006 RM B-denominated ordinary stock           1,168,209,006
Holdings Co., Ltd

Beijing BOE Investment &
                                                                822,092,180 RM B-denominated ordinary stock             822,092,180
Development Co., Ltd.

Hong Kong Securities Clearing
                                                                477,597,769 RM B-denominated ordinary stock             477,597,769
Company Ltd.

Beijing Electronics Holdings Co.,
                                                                273,735,583 RM B-denominated ordinary stock             273,735,583
Ltd.

Central Huijin Assets M anagement
                                                                248,305,300 RM B-denominated ordinary stock             248,305,300
Co., Ltd

Xiamen Hengxing Group Co., Ltd.                                 163,345,478 RM B-denominated ordinary stock             163,345,478

China Securities Finance
                                                                132,480,249 RM B-denominated ordinary stock             132,480,249
Corporation Limited

                                       1. Beijing State-owned Capital Operation and M anagement Center held 100% equities of
                                       Beijing Electronics Holdings Co., Ltd.
Related or acting-in-concert parties
                                       2. Beijing Electronics Holdings Co., Ltd. held 66.25% equities of Beijing BOE Investment &
among shareholders above
                                       Development Co., Ltd. and was its controlling shareholder.
                                       3. After the non-public issuing of BOE in 2014, Hefei Jianxiang Investment Co., Ltd. and


                                                                                                                                       6
       BOE Technology Group Co., Ltd.                                                                    Third Quarter Report 2019


                                     Chongqing Capital Opto-electronic Industry 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 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 M anagement Center handed over 70% of the shares directly held by it to
                                     Beijing Electronics Holdings Co., Ltd. for management through Stock M anagement 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 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.

                                     The Company’s shareholder Beijing Yizhuang Investment Holdings Co., Ltd. decreased its
Top 10 ordinary shareholders
                                     shareholding in the Company of 30,709,600 shares for involved in refinancing business.
involved in securities margin
                                     The Company’s shareholder Xiamen Hengxing Group Co., Ltd. holds 42,926,898 shares
trading
                                     through the securities margin trading account.

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 Rep orting Period.
□ Yes √ 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 2019




                                           Part III Significant Events

I Changes in Key Financial State ment Line Items and Explanation of why

√ Applicable □ Not applicable
1. The Construction in progress as at 30 September 2019 rose 35% compared to 31 December 2018, primarily driven by increase
with the progress of new projects in the Reporting Period.

2. Short-term borrowings as at 30 September 2019 rose 75% compared to 31 December 2018, primarily driven by optimization of
debt structure and reduction of finance costs in the Reporting Period.
3. The current portion of non-current liabilities as at 30 Sep tember 2019 rose 88% compared to 31 December 2018, primarily driven
by the transfer of the current portion of long-term borrowings into this item in the Reporting Period.
4. Bonds payable as at 30 September 2019 declined 96% compared to 31 December 2018, p rimarily driven by the advance cashing of
corporate bonds in the Reporting period.

5. R&D expense went up 75% during the Reporting Period compared to the same period of last year, primarily driven by a higher
amount of R&D investment in the Reporting Period.

6. Finance costs went down 38% during the Reporting Period compared to the same period of last year, primarily driven by reduction
of finance costs arising from repayments of carrying convertible creditor’s rights by the Company during the Reporting Period.
7. Asset impairment loss went up 51% during the Reporting Period compared to the same period of last year, primarily driven by an
increase in the inventory valuation allowance recorded in the Reporting Period according to the lower of cost and net realizable
value.
8. Return on investment went down 71% during the Reporting Period compared to the same period of last year, primarily driven by a
decrease in mature wealth management products in the Reporting Period.
9. Net cash generated from/used in financing activities went up 38% during the Reporting Period compared to the same period of last
year, primarily driven by the putting in place of the project company ’s investment funds as the progress of the new project.


II Progress, Influence and Solutions with regard to Significant Events

√ Applicable □ Not applicable
1. The wholly-owned subsidiary, BOE Technology (Hong Kong) Co., Ltd., filed lawsuits to Beijing M unicipal Higher People's Court
against following Defendants: Letv M obile Intelligent Information Technology (Beijing) Co., Ltd. (referred to as “Letv M obile
hereinafter”) , TV Plus Holdings (Beijing) Limited, Leseil M obile Technology (Beijing) Co., Ltd. and Jia Yueting, with the total
amount of claims being about US$41.84 million. Beijing M unicipal 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 M obile raised the jurisdiction
objection to Beijing M unicipal Higher People's Court, which was rejected, and also instituted an appeal to the Supreme People's
Court for verdict on jurisdiction objection. The final verdict of the Supreme People's Court is that the appeal of Letv M obile is
rejected and the original verdict is maintained. On 8 M arch 2019, the case was first heard in the Beijing M unicipal Higher People’s
Court and the next step for the Company is to wait for notice or judgment from the court . For receivables corresp onding 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.




                                                                                                                                    8
       BOE Technology Group Co., Ltd.                                                                Third Quarter Report 2019


                                                                                                     Index to the related
                       Summary of the significant event                            Disclosure date
                                                                                                       announcement

Announcement on Signing Supplementary Agreement of Cooperation
                                                                               8 September 2019      www.cninfo.com.cn
Agreement on Life Science and Technology Industrial Base Project (II)

Progress of any share repurchases:
□ Applicable √ Not applicable
Progress of any reduction of the repurchased shares through centralized bidding:

□ Applicable √ Not applicable


III Commitments that the Company’s Actual Controller, Shareholders, Related Parties,
Acquirers, the Company Itself or Other Parties, Failed to Fulfill on Time during the
Reporting Period

□ Applicable √ Not applicable

No such cases in the Reporting Period.




                                                                                                                            9
                                                                    BOE Technology Group Co., Ltd.                                                                      Third Quarter Report 2019


IV Securities Investments

√ Applicable □ Not applicable
                                                                                                                                                                                          Unit: RM B

                                                                                      Gain/loss of
                                                                                                       Accumulative Purchased Sold in
 Variety                                               Accounting                    changes in fair                                         Gain/loss in
           Symbol of    Name of         Initial                       Beginning                        changes in fair   in the     the                        Ending        Accounting    Capital
      of                                              measurement                     value in the                                           Reporting
            security    security    investment cost                 carrying value                     value recorded Reporting Reporting                   carrying value      title       source
security                                                  model                        Reporting                                               Period
                                                                                                        into equities    Period    Period
                                                                                         Period

Domestic                                                                                                                                                                     Other
and                    TPV                            Fair value                                                                                                             equity       Self-owned
           HK00903                  134,658,158.00                   25,613,279.00 -24,470,177.00 -133,515,055.00           0.00      0.00    471,354.00     1,143,103.00
overseas               Technology                     method                                                                                                                 instruments funds
stock                                                                                                                                                                        investment

Domestic                                                                                                                                                                     Other
and                    Electronic                     Fair value                                                                                                             equity       Self-owned
           SH600658                  90,160,428.00                   83,995,943.00    56,125,880.00     49,961,395.00       0.00      0.00 1,883,379.00 140,121,823.00
overseas               Zone                           method                                                                                                                 instruments funds
stock                                                                                                                                                                        investment

Domestic                                                                                                                                                                     Other
and                    Bank of                        Fair value                                                                                                             equity       Self-owned
           HK01963                  120,084,375.00                   98,705,065.00    -4,000,184.00 -40,472,517.00          0.00      0.00 3,859,812.00 98,835,126.00
overseas               Chongqing                      method                                                                                                                 instruments funds
stock                                                                                                                                                                        investment

Domestic                                                                                                                                                                     Other
and                    China                          Fair value                                                                                                             equity       Self-owned
           HK06066                   70,041,364.00                   44,412,577.00    12,415,268.00 -12,468,379.00          0.00      0.00 2,044,411.00 58,945,138.00
overseas               Securities                     method                                                                                                                 instruments funds
stock                                                                                                                                                                        investment

Domestic               New                            Fair value                                                                                                             Other        Self-owned
           HK01518                  140,848,850.00                  125,909,253.00 -72,588,144.00 -87,705,450.00            0.00      0.00           0.00 57,630,071.00
and                    Century                        method                                                                                                                 equity       funds


                                                                                                                                                                                                     10
                                                                   BOE Technology Group Co., Ltd.                                                                          Third Quarter Report 2019
overseas                 Healthcare                                                                                                                                             instruments
stock                                                                                                                                                                           investment

Other securities investments held
                                                0.00      --                  0.00              0.00             0.00        0.00        0.00         0.00               0.00       --        --
at the period-end

Total                                 555,793,175.00      --       378,636,117.00 -32,517,357.00 -224,200,006.00             0.00        0.00 8,258,956.00 356,675,261.00           --        --

Disclosure date of the
announcement about the board’s
                                      N/A
consent for the securities
investment

Disclosure date of the
announcement about the general
                                      N/A
meeting’s consent for the
securities investment (if any)


V Wealth Manage ment Entrustment

√ Applicable □ Not applicable
                                                                                                                                                     Unit: RM B’0,000 (in RM B ten thousand yuan)

                Type of wealth management                             Funding source                      Principal                 Outstanding amount before maturity            Overdue amount

Wealth management product purchased from bank and
                                                                        Self-funded                                     674,150                                    455,750                          0
structural deposits

total                                                                                                                   674,150                                    455,750                          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




                                                                                                                                                                                                   11
       BOE Technology Group Co., Ltd.                                                                 Third Quarter Report 2019




VI Investments in Derivative Financial Instruments


□ Applicable √ Not applicable

No such cases in the Reporting Period.


VII Communications with the Investment Community such as Researches, Inquiries and
Inte rvie ws during the Reporting Period

√ Applicable □ Not applicable

           Date                   Way of communication   Type of communication party Index to main information communicated

24 July 2019                       One-on-one meeting            Institution
                                                                                     1. the main situations of the industry
27 August 2019                         By phone                  Institution
                                                                                     2. main operating information of the
4 September 2019                   One-on-one meeting            Institution         Company
12 September 2019                  One-on-one meeting            Institution         3. innovations of technology and
                                                                                     products
25 September 2019                  One-on-one meeting            Institution
                                                                                     4. future strategy layout
25 September 2019                  One-on-one meeting            Institution
                                                                                     For details, see www.cninfo.com.cn
26 September 2019                  One-on-one meeting            Individual


VIII Irregularities in the Provision of Guarantees


□ Applicable √ Not applicable

No such cases in the Reporting Period.


IX Occupation of the Company’s Capital by the Controlling Shareholder or Its Related
Parties for Non-Operating Purposes


□ Applicable √ Not applicable

No such cases in the Reporting Period.




                                                                                                                              12
      BOE Technology Group Co., Ltd.                                                   Third Quarter Report 2019




                                         Part IV Financial Statements

I Financial Statements

1. Consolidated Balance Sheet

Prepared by BOE Technology Group Co., Ltd.
                                                                                                     Unit: RM B

                                  Item                      30 September 2019          31 December 2018

Current assets:

  M onetary capital                                              48,537,145,034.00           51,481,539,711.00

  Settlement reserve                                                            0.00                      0.00

  Interbank loans granted                                                       0.00                      0.00

  Trading financial assets                                        3,868,390,729.00                        0.00

  Financial assets at fair value through profit or loss                         0.00                      0.00

  Derivative financial assets                                                   0.00                      0.00

  Notes receivable                                                  178,506,526.00              656,781,577.00

  Accounts receivable                                            20,394,423,858.00           19,880,680,518.00

  Accounts receivable financing                                                 0.00                      0.00

  Prepayments                                                     1,150,697,091.00              770,633,448.00

  Premiums receivable                                                           0.00                      0.00

  Reinsurance receivables                                                       0.00                      0.00

  Receivable reinsurance contract reserve                                       0.00                      0.00

  Other receivables                                               1,306,620,088.00            2,454,174,971.00

     Including: Interests receivable                                199,832,235.00              140,597,317.00

                  Dividends receivable                                          0.00              3,711,768.00

  Financial assets purchased under resale agreements                            0.00                      0.00

  Inventories                                                    12,276,290,821.00           11,985,398,172.00

  Contractual assets                                                            0.00                      0.00

  Assets classified as held for sale                                            0.00                      0.00

  Current portion of non-current assets                                         0.00                      0.00

  Other current assets                                            9,932,441,785.00           12,463,073,779.00

Total current assets                                             97,644,515,932.00           99,692,282,176.00

Non-current assets:



                                                                                                             13
       BOE Technology Group Co., Ltd.                                               Third Quarter Report 2019


  Loans and advances to customers                                            0.00                      0.00

  Investments in debt obligations                                            0.00                      0.00

  Available-for-sale financial assets                                        0.00            734,022,359.00

  Investments in other debt obligations                                      0.00                      0.00

  Held-to-maturity investments                                               0.00                      0.00

  Long-term receivables                                                      0.00                      0.00

  Long-term equity investments                                   2,533,559,094.00          2,389,166,886.00

  Investments in other equity instruments                         699,346,221.00                       0.00

  Other non-current financial assets                                 2,066,450.00                      0.00

  Investment property                                            1,251,323,201.00          1,283,867,651.00

  Fixed assets                                                 127,361,926,032.00        128,157,730,995.00

  Construction in progress                                      76,098,791,074.00         56,423,354,887.00

  Productive living assets                                                   0.00                      0.00

  Oil and gas assets                                                         0.00                      0.00

  Right-of-use assets                                                        0.00                      0.00

  Intangible assets                                              6,961,496,297.00          5,937,679,394.00

  R&D expense                                                                0.00                      0.00

  Goodwill                                                        904,370,509.00             904,370,509.00

  Long-term prepaid expense                                       391,205,648.00             360,640,853.00

  Deferred income tax assets                                      230,327,653.00             252,373,622.00

  Other non-current assets                                      10,321,749,983.00          7,893,002,053.00

Total non-current assets                                       226,756,162,162.00        204,336,209,209.00

Total assets                                                   324,400,678,094.00        304,028,491,385.00

Current liabilities:

  Short-term borrowings                                          9,510,291,178.00          5,449,954,885.00

  Borrowings from central bank                                               0.00                      0.00

  Interbank loans obtained                                                   0.00                      0.00

  Trading financial liabilities                                              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 payable                                               1,247,223,048.00            591,109,272.00

     Accounts payable                                           19,207,745,420.00         22,213,956,616.00

     Advances from customers                                     1,461,459,542.00          1,218,934,743.00

     Contractual liabilities                                                 0.00                      0.00



                                                                                                          14
       BOE Technology Group Co., Ltd.                                                            Third Quarter Report 2019


     Financial assets sold under repurchase agreements                                    0.00                      0.00

  Customer deposits and interbank deposits                                                0.00                      0.00

  Payables for acting trading of securities                                               0.00                      0.00

  Payables for underwriting of securities                                                 0.00                      0.00

  Payroll payable                                                             1,582,501,516.00          2,224,931,171.00

  Taxes payable                                                                585,637,520.00             970,108,298.00

  Other payables                                                             27,455,003,339.00         22,956,979,828.00

     Including: Interest payable                                               369,070,169.00           1,016,761,921.00

                    Dividends payable                                             8,051,171.00             23,648,778.00

  Handling charges and commissions payable                                                0.00                      0.00

  Reinsurance payable                                                                     0.00                      0.00

  Liabilities directly associated with assets classified as held for sale                 0.00                      0.00

  Current portion of non-current liabilities                                 10,509,608,124.00          5,597,563,204.00

  Other current liabilities                                                   1,241,583,180.00          1,004,557,061.00

Total current liabilities                                                    72,801,052,867.00         62,228,095,078.00

Non-current liabilities:

  Insurance contract reserve                                                              0.00                      0.00

  Long-term borrowings                                                      109,410,456,896.00         94,780,077,864.00

  Bonds payable                                                                384,965,694.00          10,288,666,233.00

     Including: Preferred shares                                                          0.00                      0.00

Perpetual bonds                                                                           0.00                      0.00

  Lease liabilities                                                                       0.00                      0.00

  Long-term payables                                                          1,123,611,940.00          1,416,092,239.00

  Long-term payroll payable                                                               0.00                      0.00

  Provisions                                                                     16,457,010.00             16,457,010.00

  Deferred income                                                             2,352,999,803.00          2,187,558,533.00

  Deferred income tax liabilities                                             1,515,592,979.00          1,419,373,545.00

  Other non-current liabilities                                               7,705,969,476.00         11,334,873,322.00

Total non-current liabilities                                               122,510,053,798.00        121,443,098,746.00

Total liabilities                                                           195,311,106,665.00        183,671,193,824.00

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



                                                                                                                       15
       BOE Technology Group Co., Ltd.                                                                   Third Quarter Report 2019


Perpetual bonds                                                                                 0.00                        0.00

  Capital reserves                                                                38,240,644,938.00           38,213,100,596.00

  Less: Treasury stock                                                                          0.00                        0.00

  Other comprehensive income                                                        -255,541,230.00              -125,258,252.00

  Special reserves                                                                              0.00                        0.00

  Surplus reserves                                                                 1,152,625,429.00             1,152,626,310.00

  General reserve                                                                               0.00                        0.00

  Retained earnings                                                               12,826,608,401.00           11,817,881,286.00

Total equity attributable to owners of the Company as the parent                  86,762,736,301.00           85,856,748,703.00

Non-controlling interests                                                         42,326,835,128.00           34,500,548,858.00

Total owners’ equity                                                           129,089,571,429.00           120,357,297,561.00

Total liabilities and owners’ equity                                           324,400,678,094.00           304,028,491,385.00


Legal representative: Chen Yanshun                                 President of the Company ’s Execution Committee: Liu Xiaodong


Chief Financial Officer: Sun Yun                                      Head of the Company’s Financial Department: Yang Xiaoping


2. Balance Sheet of the Company as the Parent

                                                                                                                       Unit: RM B

                                   Item                                     30 September 2019            31 December 2018

Current assets:

  M onetary capital                                                                1,382,345,299.00             3,829,814,050.00

  Trading financial assets                                                                      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 receivable                                                                              0.00                1,500,000.00

  Accounts receivable                                                              1,141,481,714.00                36,952,623.00

  Accounts receivable financing                                                                 0.00                        0.00

  Prepayments                                                                         66,494,516.00                25,020,734.00

  Other receivables                                                                3,273,800,460.00             2,015,828,460.00

     Including: Interest receivable                                                   11,375,624.00                 9,659,279.00

                  Dividends receivable                                                10,404,147.00                14,115,915.00

  Inventories                                                                         12,851,513.00                 9,289,141.00

  Contractual assets                                                                            0.00                        0.00

  Assets classified as held for sale                                                            0.00                        0.00



                                                                                                                               16
       BOE Technology Group Co., Ltd.                                               Third Quarter Report 2019


  Current portion of non-current assets                           150,000,000.00             450,000,000.00

  Other current assets                                              16,676,131.00             47,805,096.00

Total current assets                                             6,043,649,633.00          6,416,210,104.00

Non-current assets:

  Investments in debt obligations                                            0.00                      0.00

  Available-for-sale financial assets                                        0.00            128,297,254.00

  Investments in other debt obligations                                      0.00                      0.00

  Held-to-maturity investments                                               0.00                      0.00

  Long-term receivables                                                      0.00                      0.00

  Long-term equity investments                                 149,524,795,210.00        143,499,733,485.00

  Investments in other equity instruments                         159,952,958.00                       0.00

  Other non-current financial assets                                         0.00                      0.00

  Investment property                                             282,935,963.00             290,253,475.00

  Fixed assets                                                    946,496,644.00             969,371,352.00

  Construction in progress                                        301,483,939.00             251,314,313.00

  Productive living assets                                                   0.00                      0.00

  Oil and gas assets                                                         0.00                      0.00

  Right-of-use assets                                                        0.00                      0.00

  Intangible assets                                              1,522,170,424.00            514,186,496.00

  R&D expense                                                                0.00                      0.00

  Goodwill                                                                   0.00                      0.00

  Long-term prepaid expense                                       107,306,817.00              99,701,797.00

  Deferred income tax assets                                      224,671,813.00             290,794,548.00

  Other non-current assets                                          82,216,747.00            284,243,667.00

Total non-current assets                                       153,152,030,515.00        146,327,896,387.00

Total assets                                                   159,195,680,148.00        152,744,106,491.00

Current liabilities:

  Short-term borrowings                                          4,660,000,000.00          1,000,000,000.00

  Trading financial liabilities                                              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 payable                                                              0.00                      0.00

  Accounts payable                                                  81,092,199.00             35,322,286.00

  Advances from customers                                        1,427,418,603.00          1,577,035,515.00



                                                                                                          17
       BOE Technology Group Co., Ltd.                                                           Third Quarter Report 2019


  Contractual liabilities                                                                0.00                      0.00

  Payroll payable                                                             132,962,108.00             201,139,261.00

  Taxes payable                                                                39,814,864.00             250,558,556.00

  Other payables                                                             5,361,530,234.00          8,209,736,090.00

     Including: Interest payable                                              252,600,302.00             330,964,989.00

                    Dividends payable                                            6,451,171.00              6,451,171.00

  Liabilities directly associated with assets classified as held for sale                0.00                      0.00

  Current portion of non-current liabilities                                 2,263,400,000.00          2,590,000,000.00

  Other current liabilities                                                    15,060,807.00                       0.00

Total current liabilities                                                   13,981,278,815.00         13,863,791,708.00

Non-current liabilities:

  Long-term borrowings                                                      33,237,742,361.00         26,520,000,000.00

  Bonds payable                                                                          0.00          9,976,533,425.00

     Including: Preferred shares                                                         0.00                      0.00

Perpetual bonds                                                                          0.00                      0.00

  Lease liabilities                                                                      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                                                            4,848,876,487.00          5,523,949,841.00

  Deferred income tax liabilities                                                        0.00                      0.00

  Other non-current liabilities                                             29,897,240,829.00         20,954,104,125.00

Total non-current liabilities                                               67,983,859,677.00         62,974,587,391.00

Total liabilities                                                           81,965,138,492.00         76,838,379,099.00

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                                                          37,599,121,411.00         37,590,966,191.00

  Less: Treasury stock                                                                   0.00                      0.00

  Other comprehensive income                                                   -82,341,718.00            -28,507,585.00

  Special reserves                                                                       0.00                      0.00

  Surplus reserves                                                           1,152,625,429.00          1,152,626,310.00



                                                                                                                      18
       BOE Technology Group Co., Ltd.                                                        Third Quarter Report 2019


  Retained earnings                                                       3,762,737,771.00          2,392,243,713.00

Total owners’ equity                                                    77,230,541,656.00         75,905,727,392.00

Total liabilities and owners’ equity                                   159,195,680,148.00        152,744,106,491.00


3. Consolidated Income Statement for Q3

                                                                                                            Unit: RM B

                                     Item                               Q3 2019                   Q3 2018

1. Revenue                                                               30,682,823,546.00         25,990,508,323.00

  Including: Operating revenue                                           30,682,823,546.00         25,990,508,323.00

                Interest income                                                       0.00                      0.00

                Premium income                                                        0.00                      0.00

                Handling charge and commission income                                 0.00                      0.00

2. Costs and expenses                                                    31,097,785,874.00         25,699,006,841.00

  Including: Cost of sales                                               27,057,692,052.00         21,245,420,721.00

                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 policy reserve                                 0.00                      0.00

                Expenditure on policy dividends                                       0.00                      0.00

                Reinsurance premium expense                                           0.00                      0.00

                Taxes and surcharges                                       214,937,325.00             200,057,483.00

                Selling expense                                            631,659,702.00             751,560,070.00

                Administrative expense                                    1,371,592,653.00          1,471,377,632.00

                R&D expense                                               1,607,788,491.00            989,103,251.00

                Finance costs                                              214,115,651.00           1,041,487,684.00

                   Including: Interest expense                               64,529,664.00            852,142,227.00

                                Interest income                            238,386,295.00             195,757,126.00

  Add: Other income                                                        274,484,937.00             357,114,751.00

             Return on investment (“-” for loss)                           62,422,694.00             91,641,762.00

             Including: Share of profit or loss of joint ventures and
                                                                             40,210,928.00             -2,412,689.00
associates

             Derecognition income of financial assets    measured at
                                                                                      0.00                      0.00
amortized cost




                                                                                                                   19
         BOE Technology Group Co., Ltd.                                                     Third Quarter Report 2019


     Foreign exchange gain (“-” for loss)                                          0.00                      0.00

     Net gain on exposure hedges (“-” for loss)                                    0.00                      0.00

     Gain on changes in fair value (“-” for loss)                        75,790,778.00                       0.00

     Credit impairment loss (“-” for loss)                                 -811,324.00                       0.00

     Assets impairment loss (“-” for loss)                              -584,698,398.00           -325,305,398.00

     Asset disposal income (“-” for loss)                                  -599,481.00                -431,247.00

3. Operating profit (“-” for loss)                                      -588,373,122.00            414,521,350.00

  Add: Non-operating income                                                28,303,377.00              32,215,068.00

  Less: Non-operating expense                                              18,339,210.00              25,909,519.00

4. Profit before tax (“-” for loss)                                     -578,408,955.00            420,826,899.00

  Less: Income tax expense                                                218,461,783.00             279,701,576.00

5. Net profit (“-” for net loss)                                        -796,870,738.00            141,125,323.00

  5.1 By operating continuity

     5.1.1 Net profit from continuing operations (“-” for net loss)     -796,870,738.00            141,125,323.00

     5.1.2 Net profit from discontinued operations (“-” for net loss)              0.00                      0.00

  5.2 By ownership

     5.2.1 Net profit attributable to owners of the Company as the
                                                                          183,791,110.00             403,860,235.00
parent

     5.2.2 Net profit attributable to non-controlling interests           -980,661,848.00           -262,734,912.00

6. Other comprehensive income, net of tax                                  40,095,872.00             -19,565,137.00

  Attributable to owners of the Company as the parent                      27,776,614.00             -68,881,892.00

  6.1 Items that will not be reclassified to profit or loss                -23,120,769.00                      0.00

     6.1.1 Changes caused by remeasurements on defined benefit
                                                                                     0.00                      0.00
pension schemes

     6.1.2 Other comprehensive income that will not be reclassified
                                                                                     0.00                      0.00
to profit or loss under the equity method

     6.1.3 Changes in the fair value of investments in other equity
                                                                           -23,120,769.00                      0.00
instruments

     6.1.4 Changes in the fair value of the company’s credit risks                  0.00                      0.00

     6.1.5 Other                                                                     0.00                      0.00

  6.2 Items that will be reclassified to profit or loss                    50,897,383.00             -68,881,892.00

     6.2.1 Other comprehensive income that will be reclassified to
                                                                                     0.00                      0.00
profit or loss under the equity method

     6.2.2 Changes in the fair value of investments in other debt
                                                                                     0.00                      0.00
obligations

     6.2.3 Gain/Loss on changes in the fair value of available-for-sale              0.00            -51,328,248.00


                                                                                                                  20
       BOE Technology Group Co., Ltd.                                                                          Third Quarter Report 2019


financial assets

     6.2.4   Other      comprehensive     income    arising   from     the
                                                                                                      0.00                        0.00
reclassification of financial assets

     6.2.5   Gain/Loss      arising    from   the   reclassification    of
                                                                                                      0.00                        0.00
held-to-maturity investments to available-for-sale financial assets

     6.2.6 Allowance for credit impairments in investments in other
                                                                                                      0.00                        0.00
debt obligations

     6.2.7 Reserve for cash flow hedges                                                               0.00                        0.00

     6.2.8 Differences arising from the translation of foreign
                                                                                            50,897,383.00               -17,553,644.00
currency-denominated financial statements

     6.2.9 Other                                                                                      0.00                        0.00

  Attributable to non-controlling interests                                                 12,319,258.00                49,316,755.00

7. Total comprehensive income                                                             -756,774,866.00               121,560,186.00

  Attributable to owners of the Company as the parent                                      211,567,724.00               334,978,343.00

  Attributable to non-controlling interests                                               -968,342,590.00              -213,418,157.00

8. Earnings per share

  8.1 Basic earnings per share                                                                       0.005                       0.012

  8.2 Diluted earnings per share                                                                     0.005                       0.012

Where business combinations under common control occurred in the current period, the net profit achieved by the acquirees bef ore
the combinations was RM B0.00, with the amount for the same period of last year being RM B0.00.
Legal representative: Chen Yanshun                                     President of the Company ’s Execution Committee: Liu Xiaodong


Chief Financial Officer: Sun Yun                                             Head of the Company’s Financial Department: Yang Xiaoping


4. Income Statement of the Company as the Parent for Q3

                                                                                                                              Unit: RM B

                                   Item                                                Q3 2019                      Q3 2018

1. Operating revenue                                                                       804,092,949.00               880,896,282.00

  Less: Cost of sales                                                                         4,639,853.00               11,375,516.00

         Taxes and surcharges                                                               13,328,825.00                10,756,707.00

         Selling expense                                                                              0.00                  114,342.00

         Administrative expense                                                            177,461,557.00               208,556,956.00

         R&D expense                                                                       562,250,371.00               333,106,008.00

         Finance costs                                                                     247,532,655.00               287,967,713.00

         Including: Interest expense                                                       241,987,314.00               296,503,529.00

                     Interest income                                                          6,493,528.00               10,680,666.00



                                                                                                                                     21
       BOE Technology Group Co., Ltd.                                                        Third Quarter Report 2019


  Add: Other income                                                         234,796,640.00            230,746,114.00

        Return on investment (“-” for loss)                                40,393,087.00             -2,272,624.00

        Including: Share of profit or loss of joint ventures and
                                                                             40,210,928.00             -2,281,972.00
associates

          Derecognition income of financial assets            measured at
                                                                                      0.00                      0.00
amortized cost

        Net gain on exposure hedges (“-” for loss)                                  0.00                      0.00

        Gain on changes in fair value (“-” for loss)                                0.00                      0.00

        Credit impairment loss (“-” for loss)                                       0.00                      0.00

        Assets impairment loss (“-” for loss)                                       0.00                      0.00

        Asset disposal income (“-” for loss)                                        0.00                      0.00

2. Operating profit (“-” for loss)                                         74,069,415.00            257,492,530.00

  Add: Non-operating income                                                    127,852.00               1,026,267.00

  Less: Non-operating expense                                                  126,852.00               1,532,297.00

3. Profit before tax (“-” for loss)                                        74,070,415.00            256,986,500.00

  Less: Income tax expense                                                   20,460,727.00             30,344,396.00

4. Net profit (“-” for net loss)                                           53,609,688.00            226,642,104.00

  4.1 Net profit from continuing operations (“-” for net loss)             53,609,688.00            226,642,104.00

  4.2 Net profit from discontinued operations (“-” for net loss)                    0.00                      0.00

5. Other comprehensive income, net of tax                                    17,375,934.00             -4,076,480.00

  5.1 Items that will not be reclassified to profit or loss                  17,375,934.00                      0.00

     5.1.1 Changes caused by remeasurements on defined benefit
                                                                                      0.00                      0.00
pension schemes

     5.1.2 Other comprehensive income that will not be reclassified
                                                                                      0.00                      0.00
to profit or loss under the equity method

     5.1.3 Changes in the fair value of investments in other equity
                                                                             17,375,934.00                      0.00
instruments

     5.1.4 Changes in the fair value of the company’s credit risks                   0.00                      0.00

     5.1.5 Other                                                                      0.00                      0.00

  5.2 Items that will be reclassified to profit or loss                               0.00             -4,076,480.00

     5.2.1 Other comprehensive income that will be reclassified to
                                                                                      0.00                      0.00
profit or loss under the equity method

     5.2.2 Changes in the fair value of investments in other debt
                                                                                      0.00                      0.00
obligations

     5.2.3 Gain/Loss on changes in the fair value of available-for-sale
                                                                                      0.00             -4,076,480.00
financial assets



                                                                                                                   22
       BOE Technology Group Co., Ltd.                                                              Third Quarter Report 2019


     5.2.4   Other      comprehensive     income    arising   from     the
                                                                                            0.00                      0.00
reclassification of financial assets

     5.2.5   Gain/Loss       arising   from   the   reclassification    of
                                                                                            0.00                      0.00
held-to-maturity investments to available-for-sale financial assets

     5.2.6 Allowance for credit impairments in investments in other
                                                                                            0.00                      0.00
debt obligations

     5.2.7 Reserve for cash flow hedges                                                     0.00                      0.00

     5.2.8 Differences arising from the translation of foreign
                                                                                            0.00                      0.00
currency-denominated financial statements

     5.2.9 Other                                                                            0.00                      0.00

6. Total comprehensive income                                                     70,985,622.00             222,565,624.00

7. Earnings per share

 7.1 Basic earnings per share                                                             0.0015                    0.0065

 7.2 Diluted earnings per share                                                           0.0015                    0.0065


5. Consolidated Income Statement for Q1~Q3

                                                                                                                 Unit: RM B

                                   Item                                      Q1~Q3 2019               Q1~Q3 2018

1. Revenue                                                                     85,722,032,233.00         69,464,413,289.00

  Including: Operating revenue                                                 85,722,032,233.00         69,464,413,289.00

              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                                                84,988,854,900.00         67,386,014,248.00

  Including: Cost of sales                                                     72,870,025,283.00         56,390,002,852.00

              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 policy reserve                                         0.00                      0.00

              Expenditure on policy dividends                                               0.00                      0.00

              Reinsurance premium expense                                                   0.00                      0.00

              Taxes and surcharges                                               639,790,732.00             502,623,237.00

              Selling expense                                                   1,996,946,988.00          2,046,342,664.00

              Administrative expense                                            3,568,776,147.00          3,615,086,182.00


                                                                                                                         23
         BOE Technology Group Co., Ltd.                                                           Third Quarter Report 2019


               R&D expense                                                    4,532,446,727.00           2,589,297,974.00

               Finance costs                                                  1,380,869,023.00           2,242,661,339.00

                  Including: Interest expense                                 1,600,091,473.00           2,279,883,467.00

                              Interest income                                   637,209,152.00             541,745,812.00

  Add: Other income                                                           1,392,437,864.00           2,261,274,910.00

         Investment income (“-” for loss)                                      75,988,065.00             258,565,775.00

          Including: Share of profit or loss of joint ventures and
                                                                                 23,638,967.00             -31,991,268.00
associates

                     Derecognition income of financial assets measured
                                                                                          0.00                       0.00
at amortized cost

         Foreign exchange gain (“-” for loss)                                           0.00                       0.00

         Net gain on exposure hedges (“-” for loss)                                     0.00                       0.00

         Gain on changes in fair value (“-” for loss)                         131,456,933.00                       0.00

         Credit impairment loss (“-” for loss)                                -21,041,769.00                       0.00

         Assets impairment loss (“-” for loss)                              -1,182,805,265.00           -783,454,658.00

         Asset disposal income (“-” for loss)                                    -225,802.00                -589,758.00

3. Operating profit (“-” for loss)                                          1,128,987,359.00           3,814,195,310.00

  Add: Non-operating income                                                     124,646,909.00             128,856,936.00

  Less: Non-operating expense                                                    30,187,550.00              33,563,330.00

4. Profit before tax (“-” for loss)                                         1,223,446,718.00           3,909,488,916.00

  Less: Income tax expense                                                      892,236,824.00             939,270,136.00

5. Net profit (“-” for net loss)                                              331,209,894.00           2,970,218,780.00

  5.1 By operating continuity (“-” for net loss)

     5.1.1 Net profit from continuing operations (“-” for net loss)           331,209,894.00           2,970,218,780.00

     5.1.2 Net profit from discontinued operations (“-” for net loss)                   0.00                       0.00

  5.2 By ownership

     5.2.1 Net profit attributable to owners of the Company as the
                                                                              1,852,239,559.00           3,379,066,735.00
parent

     5.2 2. Net profit attributable to non-controlling interests              -1,521,029,665.00           -408,847,955.00

6. Other comprehensive income, net of tax                                        88,992,377.00            -242,834,533.00

  Attributable to owners of the Company as the parent                            75,908,403.00            -307,168,409.00

  6.1 Items that will not be reclassified to profit or loss                     -46,727,821.00                       0.00

     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                     0.00                       0.00



                                                                                                                        24
       BOE Technology Group Co., Ltd.                                                                         Third Quarter Report 2019


not be reclassified to profit or loss under equity method

     6.1.3 Changes in the fair value of investments in other equity
                                                                                           -46,727,821.00                        0.00
instruments

     6.1.4 Changes in the fair value of the company’s credit risks                                  0.00                        0.00

     6.1.5 Other                                                                                     0.00                        0.00

  6.2 Items that may subsequently be reclassified to profit or loss                       122,636,224.00              -307,168,409.00

     6.2.1 Share of other comprehensive income of investees that will                                                            0.00
                                                                                          175,359,777.00
be reclassified to profit or loss under equity method

     6.2.2 Changes in the fair value of investments in other debt                                                                0.00
                                                                                                     0.00
obligations

     6.2.3 Gain/Loss on changes in fair value of available-for-sale                                                   -142,383,300.00
                                                                                                     0.00
financial assets

     6.2.4.   Other     comprehensive    income      arising from     the
                                                                                                     0.00                        0.00
reclassification of financial assets

     6.2.5 Gain/Loss arising from reclassification of held-to-maturity
                                                                                                     0.00                        0.00
investments to available-for-sale financial assets

     6.2.6 Allowance for credit impairments in investments in other
                                                                                                     0.00                        0.00
debt obligations

     6.2.7 Reserve for cash flow hedges                                                              0.00                        0.00

     6.2.8    Differences    arising   from   translation   of   foreign                                              -164,785,109.00
                                                                                           -52,723,553.00
currency-denominated financial statements

     6.2.9 Other                                                                                     0.00                        0.00

  Attributable to non-controlling interests                                                13,083,974.00                64,333,876.00

7. Total comprehensive income                                                             420,202,271.00             2,727,384,247.00

  Attributable to owners of the Company as the parent                                   1,928,147,962.00             3,071,898,326.00

  Attributable to non-controlling interests                                             -1,507,945,691.00             -344,514,079.00

8. Earnings per share

  8.1 Basic earnings per share                                                                      0.053                       0.097

  8.2 Diluted earnings per share                                                                    0.053                       0.097

Where business combinations under common control occurred in the current period, the net profit achieved by the acquirees bef ore
the combinations was RM B0.00, with the amount for the same period of last year being RM B0.00.
Legal representative: Chen Yanshun                                    President of the Company ’s Execution Committee: Liu Xiaodong


Chief Financial Officer: Sun Yun                                            Head of the Company’s Financial Department: Yang Xiaoping


6. Income Statement of the Company as the Parent for Q1~Q3

                                                                                                                            Unit: RM B



                                                                                                                                    25
       BOE Technology Group Co., Ltd.                                                               Third Quarter Report 2019


                                        Item                                  Q1~Q3 2019               Q1~Q3 2018

1. Operating revenue                                                             3,693,788,781.00          3,027,757,238.00

  Less: Cost of sales                                                              13,866,441.00              24,162,249.00

        Taxes and surcharges                                                       32,091,950.00              34,788,558.00

        Selling expense                                                                      0.00                547,948.00

        Administrative expense                                                    480,568,050.00             535,278,413.00

        R&D expense                                                              1,496,046,336.00            826,657,662.00

        Finance costs                                                             737,047,649.00             666,905,601.00

             Including: Interest expense                                          746,772,224.00             696,539,636.00

                        Interest income                                            24,854,626.00              31,590,749.00

  Add: Other income                                                               702,776,927.00             763,173,779.00

          Investment income (“-” for loss)                                      832,587,366.00             882,196,406.00

           Including: Share of profit or loss of joint ventures and
                                                                                   23,691,240.00             -19,884,534.00
associates

                             Derecognition income of financial assets
                                                                                             0.00                      0.00
measured at amortized cost

        Net gain on exposure hedges (“-” for loss)                                         0.00                      0.00

        Gain on changes in fair value (“-” for loss)                                       0.00                      0.00

        Credit impairment loss (“-” for loss)                                     -7,044,401.00                      0.00

        Assets impairment loss (“-” for loss)                                              0.00                      0.00

        Asset disposal income (“-” for loss)                                               0.00                      0.00

2. Operating profit (“-” for loss)                                             2,462,488,247.00          2,584,786,992.00

  Add: Non-operating income                                                          2,575,137.00              4,344,115.00

  Less: Non-operating expense                                                         975,890.00               2,108,640.00

3. Profit before tax (“-” for loss)                                            2,464,087,494.00          2,587,022,467.00

  Less: Income tax expense                                                        305,734,696.00             244,757,659.00

4. Net profit (“-” for net loss)                                               2,158,352,798.00          2,342,264,808.00

  4.1 Net profit from continuing operations (“-” for net loss)                 2,158,352,798.00          2,342,264,808.00

  4.2 Net profit from discontinued operations (“-” for net loss)                           0.00                      0.00

5. Other comprehensive income, net of tax                                         202,267,125.00             -38,943,481.00

  5.1 Items that will not be reclassified to profit or loss                        26,907,348.00                       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
                                                                                             0.00                      0.00
not be reclassified to profit or loss under equity method



                                                                                                                          26
         BOE Technology Group Co., Ltd.                                                             Third Quarter Report 2019


             5.1.3 Changes in the fair value of investments in other debt
                                                                                   26,907,348.00                       0.00
obligations

             5.1.4 Changes in the fair value of the company’s credit
                                                                                             0.00                      0.00
risks

             5.1.5 Other                                                                     0.00                      0.00

  5.2 Items that may subsequently be reclassified to profit or loss               175,359,777.00             -38,943,481.00

        5.2.1 Share of other comprehensive income of investees that will
                                                                                  175,359,777.00                       0.00
be reclassified to profit or loss under equity method

        5.2.2 Changes in the fair value of investments in other debt
                                                                                             0.00                      0.00
obligations

        5.2.3 Gain/Loss on changes in fair value of available-for-sale
                                                                                             0.00            -38,943,481.00
financial assets

          5.2.4     Other comprehensive income         arising from the
                                                                                             0.00                      0.00
reclassification of financial assets

        5.2.5 Gain/Loss arising from reclassification of held-to-maturity
                                                                                             0.00                      0.00
investments to available-for-sale financial assets

        5.2.6 Allowance for credit impairments in investments in other
                                                                                             0.00                      0.00
debt obligations

        5.2.7 Reserve for cash flow hedges                                                   0.00                      0.00

        5.2.8     Differences   arising   from   translation   of   foreign
                                                                                             0.00                      0.00
currency-denominated financial statements

        5.2.9 Other                                                                          0.00                      0.00

6. Total comprehensive income                                                    2,360,619,923.00          2,303,321,327.00

7. Earnings per share

 7.1 Basic earnings per share                                                              0.0620                    0.0673

 7.2 Diluted earnings per share                                                            0.0620                    0.0673


7. Consolidated Cash Flow Statement for Q1~Q3

                                                                                                                  Unit: RM B

                                     Item                                     Q1~Q3 2019               Q1~Q3 2018

1. Cash flows from operating activities:

  Proceeds from sale of commodities and rendering of services                   90,795,247,871.00         60,772,530,957.00

  Net increase in customer deposits and interbank deposits                                   0.00                      0.00

  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



                                                                                                                          27
        BOE Technology Group Co., Ltd.                                                       Third Quarter Report 2019


  Net proceeds from reinsurance                                                       0.00                      0.00

  Net increase in deposits and investments of policy holders                          0.00                      0.00

  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

Net proceeds from acting trading of securities                                        0.00                      0.00

  Tax rebates                                                             5,540,874,958.00          6,005,591,808.00

  Cash generated from other operating activities                          5,004,310,777.00          4,658,687,543.00

Subtotal of cash generated from operating activities                    101,340,433,606.00         71,436,810,308.00

  Payments for commodities and services                                  68,399,418,986.00         38,239,152,251.00

Net increase in loans and advances to customers                                       0.00                      0.00

  Net increase in deposits in central bank and in interbank loans
                                                                                      0.00                      0.00
granted

  Payments for claims on original insurance contracts                                 0.00                      0.00

  Net increase in interbank loans granted                                             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                                          8,056,691,079.00          7,486,983,925.00

  Taxes paid                                                              2,790,851,592.00          2,335,162,753.00

  Cash used in other operating activities                                 5,566,482,540.00          4,935,757,639.00

Subtotal of cash used in operating activities                            84,813,444,197.00         52,997,056,568.00

Net cash generated from/used in operating activities                     16,526,989,409.00         18,439,753,740.00

2. Cash flows from investing activities:

  Proceeds from disinvestment                                            26,937,918,625.00         56,395,382,400.00

  Return on investment                                                     341,466,867.00             640,439,103.00

  Net proceeds from the disposal of fixed assets, intangible assets
                                                                             33,905,351.00             24,665,452.00
and other long-lived assets

  Net proceeds from the disposal of subsidiaries and other business
                                                                                      0.00                      0.00
units

Cash generated from other investing activities                            1,110,244,320.00          3,274,861,792.00

Subtotal of cash generated from investing activities                     28,423,535,163.00         60,335,348,747.00

  Payments for the acquisition of fixed assets, intangible assets and
                                                                         37,854,619,360.00         37,753,522,657.00
other long-lived assets

  Payments for investments                                               24,285,645,875.00         54,265,549,688.00

  Net increase in pledged loans granted                                               0.00                      0.00



                                                                                                                   28
        BOE Technology Group Co., Ltd.                                                        Third Quarter Report 2019


  Net payments for the acquisition of subsidiaries and other business
                                                                                       0.00                      0.00
units

Cash used in other investing activities                                      81,359,067.00             505,424,898.00

Subtotal of cash used in investing activities                             62,221,624,302.00         92,524,497,243.00

Net cash generated from/used in investing activities                     -33,798,089,139.00        -32,189,148,496.00

3. Cash flows from financing activities:

  Capital contributions received                                           9,396,220,000.00          4,212,024,400.00

  Including: Capital contributions by non-controlling interests to
                                                                           9,396,220,000.00          4,212,024,400.00
subsidiaries

  Borrowings obtained                                                     37,923,426,290.00         28,080,875,769.00

  Cash generated from other financing activities                            357,634,475.00           1,831,147,947.00

Subtotal of cash generated from financing activities                      47,677,280,765.00         34,124,048,116.00

  Repayments of borrowings                                                25,867,488,701.00         16,354,302,160.00

  Payments for interest and dividends                                      5,442,071,700.00          5,874,569,087.00

  Including: Dividends paid by subsidiaries to non-controlling
                                                                             36,394,420.00                       0.00
interests

Cash used in other financing activities                                     259,564,952.00             213,480,875.00

Subtotal of cash used in financing activities                             31,569,125,353.00         22,442,352,122.00

Net cash generated from/used in financing activities                      16,108,155,412.00         11,681,695,994.00

4. Effect of foreign exchange rate changes on cash and cash                 457,359,826.00
                                                                                                       827,974,389.00
equivalents

5. Net increase in cash and cash equivalents                                -705,584,492.00         -1,239,724,373.00

  Add: Cash and cash equivalents, beginning of the period                 43,350,696,520.00         47,913,287,583.00

6. Cash and cash equivalents, end of the period                           42,645,112,028.00         46,673,563,210.00


8. Cash Flow Statement of the Company as the Parent for Q1~Q3

                                                                                                            Unit: RM B

                                   Item                                 Q1~Q3 2019               Q1~Q3 2018

1. Cash flows from operating activities:

  Proceeds from sale of commodities and rendering of services              3,672,204,949.00          3,396,625,349.00

  Tax rebates                                                                          0.00             25,803,518.00

  Cash generated from other operating activities                            348,439,553.00             624,672,967.00

Subtotal of cash generated from operating activities                       4,020,644,502.00          4,047,101,834.00

  Payments for commodities and services                                    2,417,299,531.00            398,673,820.00

  Cash paid to and for employees                                            911,369,102.00             699,458,250.00


                                                                                                                    29
        BOE Technology Group Co., Ltd.                                                      Third Quarter Report 2019


  Taxes paid                                                              662,913,180.00             367,901,747.00

  Cash used in other operating activities                                 430,459,939.00             234,107,331.00

Subtotal of cash used in operating activities                            4,422,041,752.00          1,700,141,148.00

Net cash generated from/used in operating activities                      -401,397,250.00          2,346,960,686.00

2. Cash flows from investing activities:

  Proceeds from disinvestment                                             366,360,000.00             506,160,000.00

  Return on investment                                                    638,155,513.00             785,144,132.00

  Net proceeds from the disposal of fixed assets, intangible assets
                                                                                  740.00                 232,676.00
and other long-lived assets

  Net proceeds from the disposal of subsidiaries and other business
                                                                                     0.00                      0.00
units

  Cash generated from other investing activities                          568,637,974.00           3,516,832,697.00

Subtotal of cash generated from investing activities                     1,573,154,227.00          4,808,369,505.00

  Payments for the acquisition of fixed assets, intangible assets and
                                                                          986,386,306.00             221,434,709.00
other long-lived assets

  Payments for investments                                               6,011,944,700.00         18,757,457,360.00

  Net payments for the acquisition of subsidiaries and other business
                                                                                     0.00                      0.00
units

  Cash used in other investing activities                                2,317,224,712.00            200,000,400.00

Subtotal of cash used in investing activities                            9,315,555,718.00         19,178,892,469.00

Net cash generated from/used in investing activities                    -7,742,401,491.00        -14,370,522,964.00

3. Cash flows from financing activities:

  Capital contributions received                                                     0.00                      0.00

  Borrowings obtained                                                   15,791,142,361.00         10,367,000,000.00

  Cash generated from other financing activities                         9,161,162,232.00         16,993,246,939.00

Subtotal of cash generated from financing activities                    24,952,304,593.00         27,360,246,939.00

  Repayments of borrowings                                              14,143,195,075.00          3,932,732,992.00

  Payments for interest and dividends                                    1,912,890,527.00          2,255,848,689.00

  Cash used in other financing activities                                3,201,796,768.00          7,500,000,000.00

Subtotal of cash used in financing activities                           19,257,882,370.00         13,688,581,681.00

Net cash generated from/used in financing activities                     5,694,422,223.00         13,671,665,258.00

4. Effect of foreign exchange rate changes on cash and cash
                                                                             1,907,767.00             98,891,103.00
equivalents

5. Net increase in cash and cash equivalents                            -2,447,468,751.00          1,746,994,083.00

  Add: Cash and cash equivalents, beginning of the period                3,829,814,050.00          2,990,801,501.00



                                                                                                                  30
          BOE Technology Group Co., Ltd.                                                            Third Quarter Report 2019


6. Cash and cash equivalents, end of the period                             1,382,345,299.00               4,737,795,584.00


II Adjustments to the Financial Statements

1. Adjustments to the Financial Statements at the Beginning of the Execution of any New Standards
Governing Financial Instruments, Revenue or Leases from 2019

√ Applicable □ Not applicable

Consolidated Balance Sheet
                                                                                                                  Unit: RM B

                       Item                       31 December 2018          1 January 2019                 Adjusted

Current assets:

  M onetary capital                                   51,481,539,711.00        51,481,539,711.00                       0.00

  Settlement reserve                                                 0.00                    0.00                      0.00

  Interbank loans granted                                            0.00                    0.00                      0.00

  Trading financial assets                                           0.00       5,534,413,566.00           5,534,413,566.00

  Financial assets at fair value through profit
                                                                     0.00                    0.00                      0.00
or loss

  Derivative financial assets                                        0.00                    0.00                      0.00

  Notes receivable                                      656,781,577.00           656,781,577.00                        0.00

  Accounts receivable                                 19,880,680,518.00        19,874,667,809.00              -6,012,709.00

  Accounts receivable financing                                      0.00                    0.00                      0.00

  Prepayments                                           770,633,448.00           770,633,448.00                        0.00

  Premiums receivable                                                0.00                    0.00                      0.00

  Reinsurance receivables                                            0.00                    0.00                      0.00

  Receivable reinsurance contract reserve                            0.00                    0.00                      0.00

  Other receivables                                    2,454,174,971.00         2,453,289,708.00                -885,263.00

     Including: Interest receivable                     140,597,317.00           140,597,317.00                        0.00

                  Dividends receivable                     3,711,768.00             3,711,768.00                       0.00

  Financial assets purchased under resale
                                                                     0.00                    0.00                      0.00
agreements

  Inventories                                         11,985,398,172.00        11,985,398,172.00                       0.00

  Contractual assets                                                 0.00                    0.00                      0.00

  Assets classified as held for sale                                 0.00                    0.00                      0.00

  Current portion of non-current assets                              0.00                    0.00                      0.00

  Other current assets                                12,463,073,779.00         6,928,660,213.00          -5,534,413,566.00




                                                                                                                          31
       BOE Technology Group Co., Ltd.                                                     Third Quarter Report 2019


Total current assets                             99,692,282,176.00    99,685,384,204.00             -6,897,972.00

Non-current assets:

  Loans and advances to customers                             0.00                 0.00                      0.00

  Investments in debt obligations                             0.00                 0.00                      0.00

  Available-for-sale financial assets              734,022,359.00                  0.00           -734,022,359.00

  Investments in other debt obligations                       0.00                 0.00                      0.00

  Held-to-maturity investments                                0.00                 0.00                      0.00

  Long-term receivables                                       0.00                 0.00                      0.00

  Long-term equity investments                    2,389,166,886.00     2,389,166,886.00                      0.00

  Investments in other equity instruments                     0.00      721,155,927.00             721,155,927.00

  Other non-current financial assets                          0.00        12,866,432.00             12,866,432.00

  Investment property                             1,283,867,651.00     1,283,867,651.00                      0.00

  Fixed assets                                  128,157,730,995.00   128,157,730,995.00                      0.00

  Construction in progress                       56,423,354,887.00    56,423,354,887.00                      0.00

  Productive living assets                                    0.00                 0.00                      0.00

  Oil and gas assets                                          0.00                 0.00                      0.00

  Right-of-use assets                                         0.00                 0.00                      0.00

  Intangible assets                               5,937,679,394.00     5,937,679,394.00                      0.00

  R&D expense                                                 0.00                 0.00                      0.00

  Goodwill                                         904,370,509.00       904,370,509.00                       0.00

  Long-term prepaid expense                        360,640,853.00       360,640,853.00                       0.00

  Deferred income tax assets                       252,373,622.00       252,373,622.00                       0.00

  Other non-current assets                        7,893,002,053.00     7,893,002,053.00                      0.00

Total non-current assets                        204,336,209,209.00   204,336,209,209.00                      0.00

Total assets                                    304,028,491,385.00   304,021,593,413.00             -6,897,972.00

Current liabilities:

  Short-term borrowings                           5,449,954,885.00     5,449,954,885.00                      0.00

  Borrowings from central bank                                0.00                 0.00                      0.00

  Interbank loans obtained                                    0.00                 0.00                      0.00

  Trading financial liabilities                               0.00                 0.00                      0.00

  Financial liabilities at fair value through
                                                              0.00                 0.00                      0.00
profit or loss

  Derivative financial liabilities                            0.00                 0.00                      0.00

  Notes payable                                    591,109,272.00       591,109,272.00                       0.00




                                                                                                                32
       BOE Technology Group Co., Ltd.                                                     Third Quarter Report 2019


  Accounts payable                               22,213,956,616.00    22,213,956,616.00                      0.00

  Advances from customers                         1,218,934,743.00     1,218,934,743.00                      0.00

  Contractual liabilities                                     0.00                 0.00                      0.00

  Financial assets sold under repurchase
                                                              0.00                 0.00                      0.00
agreements

  Customer deposits and interbank deposits                    0.00                 0.00                      0.00

  Payables for acting trading of securities                   0.00                 0.00                      0.00

  Payables for underwriting of securities                     0.00                 0.00                      0.00

  Payroll payable                                 2,224,931,171.00     2,224,931,171.00                      0.00

  Taxes payable                                    970,108,298.00       970,108,298.00                       0.00

  Other payables                                 22,956,979,828.00    22,956,979,828.00                      0.00

     Including: Interest payable                  1,016,761,921.00     1,016,761,921.00                      0.00

                    Dividends payable                23,648,778.00        23,648,778.00                      0.00

  Handling charges and commissions payable                    0.00                 0.00                      0.00

  Reinsurance payables                                        0.00                 0.00                      0.00

  Liabilities directly associated with assets
                                                              0.00                 0.00                      0.00
classified as held for sale

  Current portion of non-current liabilities      5,597,563,204.00     5,597,563,204.00                      0.00

  Other current liabilities                       1,004,557,061.00     1,004,557,061.00                      0.00

Total current liabilities                        62,228,095,078.00    62,228,095,078.00                      0.00

Non-current liabilities:

  Insurance contract reserve                                  0.00                 0.00                      0.00

  Long-term borrowings                           94,780,077,864.00    94,780,077,864.00                      0.00

  Bonds payable                                  10,288,666,233.00    10,288,666,233.00                      0.00

     Including: Preferred shares                              0.00                 0.00                      0.00

Perpetual bonds                                               0.00                 0.00                      0.00

  Lease liabilities                                           0.00                 0.00                      0.00

  Long-term payables                              1,416,092,239.00     1,416,092,239.00                      0.00

  Long-term payroll payable                                   0.00                 0.00                      0.00

  Provisions                                         16,457,010.00        16,457,010.00                      0.00

  Deferred income                                 2,187,558,533.00     2,187,558,533.00                      0.00

  Deferred income tax liabilities                 1,419,373,545.00     1,419,373,545.00                      0.00

  Other non-current liabilities                  11,334,873,322.00    11,334,873,322.00                      0.00

Total non-current liabilities                   121,443,098,746.00   121,443,098,746.00                      0.00

Total liabilities                               183,671,193,824.00   183,671,193,824.00                      0.00


                                                                                                                33
          BOE Technology Group Co., Ltd.                                                                    Third Quarter Report 2019


Owners’ equity:

  Share capital                                          34,798,398,763.00            34,798,398,763.00                          0.00

  Other equity instruments                                             0.00                          0.00                        0.00

     Including: Preferred shares                                       0.00                          0.00                        0.00

Perpetual bonds                                                        0.00                          0.00                        0.00

  Capital reserves                                       38,213,100,596.00            38,213,100,596.00                          0.00

  Less: Treasury stock                                                 0.00                          0.00                        0.00

  Other comprehensive income                               -125,258,252.00               -331,449,633.00            -206,191,381.00

  Specific reserve                                                     0.00                          0.00                        0.00

  Surplus reserves                                        1,152,626,310.00              1,152,625,429.00                      -881.00

  General reserve                                                      0.00                          0.00                        0.00

  Retained earnings                                      11,817,881,286.00            12,018,320,805.00              200,439,519.00

Total equity attributable to owners of the
                                                         85,856,748,703.00            85,850,995,960.00               -5,752,743.00
Company as the parent

Non-controlling interests                                34,500,548,858.00            34,499,403,629.00               -1,145,229.00

Total owners’ equity                                   120,357,297,561.00           120,350,399,589.00               -6,897,972.00

Total liabilities and owners’ equity                   304,028,491,385.00           304,021,593,413.00               -6,897,972.00

Note for adjustment:
The Group began to implement the Accounting Standards for Business Enterprises No. 22 - Recognition and M easurement of
Financial Instruments, the Accounting Standards for Business Enterprises No. 23 – Transfer of Financial Assets, the Accounting
Standards for Business Enterprises No. 24 – Hedging Accounting, and the Accounting Standards for Business Enterprises No. 37 –
Presentation of Financial Instruments revised in 2017 from 1 January 2019. The Company adjusted related items of the Financial
Statements at the Beginning of the First Execution Year according to the requirements of the standards.
Balance Sheet of the Company as the Parent

                                                                                                                          Unit: RM B

                        Item                        31 December 2018               1 January 2019                  Adjusted

Current assets:

  M onetary capital                                       3,829,814,050.00              3,829,814,050.00                         0.00

  Trading financial assets                                             0.00                          0.00                        0.00

  Financial assets at fair value through profit
                                                                       0.00                          0.00                        0.00
or loss

  Derivative financial assets                                          0.00                          0.00                        0.00

  Notes receivable                                            1,500,000.00                  1,500,000.00                         0.00

  Accounts receivable                                        36,952,623.00                 36,952,623.00                         0.00

  Accounts receivable financing                                        0.00                          0.00                        0.00

  Prepayments                                                25,020,734.00                 25,020,734.00                         0.00


                                                                                                                                    34
       BOE Technology Group Co., Ltd.                                                 Third Quarter Report 2019


  Other receivables                           2,015,828,460.00     2,015,819,544.00                 -8,916.00

     Including: Interest receivable               9,659,279.00         9,659,279.00                      0.00

                 Dividends receivable            14,115,915.00        14,115,915.00                      0.00

  Inventories                                     9,289,141.00         9,289,141.00                      0.00

  Contractual assets                                      0.00                 0.00                      0.00

  Assets classified as held for sale                      0.00                 0.00                      0.00

  Current portion of non-current assets        450,000,000.00       450,000,000.00                       0.00

  Other current assets                           47,805,096.00        47,805,096.00                      0.00

Total current assets                          6,416,210,104.00     6,416,201,188.00                 -8,916.00

Non-current assets:

  Investments in debt obligations                         0.00                 0.00                      0.00

  Available-for-sale financial assets          128,297,254.00                  0.00           -128,297,254.00

  Investments in other debt obligations                   0.00                 0.00                      0.00

  Held-to-maturity investments                            0.00                 0.00                      0.00

  Long-term receivables                                   0.00                 0.00                      0.00

  Long-term equity investments              143,499,733,485.00   143,499,733,485.00                      0.00

  Investments in other equity instruments                 0.00      128,297,254.00             128,297,254.00

  Other non-current financial assets                      0.00                 0.00                      0.00

  Investment property                          290,253,475.00       290,253,475.00                       0.00

  Fixed assets                                 969,371,352.00       969,371,352.00                       0.00

  Construction in progress                     251,314,313.00       251,314,313.00                       0.00

  Productive living assets                                0.00                 0.00                      0.00

  Oil and gas assets                                      0.00                 0.00                      0.00

  Right-of-use assets                                     0.00                 0.00                      0.00

  Intangible assets                            514,186,496.00       514,186,496.00                       0.00

  R&D expense                                             0.00                 0.00                      0.00

  Goodwill                                                0.00                 0.00                      0.00

  Long-term prepaid expense                      99,701,797.00        99,701,797.00                      0.00

  Deferred income tax assets                   290,794,548.00       290,794,548.00                       0.00

  Other non-current assets                     284,243,667.00       284,243,667.00                       0.00

Total non-current assets                    146,327,896,387.00   146,327,896,387.00                      0.00

Total assets                                152,744,106,491.00   152,744,097,575.00                 -8,916.00

Current liabilities:

  Short-term borrowings                       1,000,000,000.00     1,000,000,000.00                      0.00



                                                                                                            35
       BOE Technology Group Co., Ltd.                                                   Third Quarter Report 2019


  Trading financial liabilities                              0.00                0.00                      0.00

  Financial liabilities at fair value through
                                                             0.00                0.00                      0.00
profit or loss

  Derivative financial liabilities                           0.00                0.00                      0.00

  Notes payable                                              0.00                0.00                      0.00

  Accounts payable                                 35,322,286.00       35,322,286.00                       0.00

  Advances from customers                        1,577,035,515.00    1,577,035,515.00                      0.00

  Contractual liabilities                                    0.00                0.00                      0.00

  Payroll payable                                 201,139,261.00      201,139,261.00                       0.00

  Taxes payable                                   250,558,556.00      250,558,556.00                       0.00

  Other payables                                 8,209,736,090.00    8,209,736,090.00                      0.00

     Including: Interest payable                  330,964,989.00      330,964,989.00                       0.00

                    Dividends payable                6,451,171.00        6,451,171.00                      0.00

  Liabilities directly associated with assets
                                                             0.00                0.00                      0.00
classified as held for sale

  Current portion of non-current liabilities     2,590,000,000.00    2,590,000,000.00                      0.00

  Other current liabilities                                  0.00                0.00                      0.00

Total current liabilities                       13,863,791,708.00   13,863,791,708.00                      0.00

Non-current liabilities:

  Long-term borrowings                          26,520,000,000.00   26,520,000,000.00                      0.00

  Bonds payable                                  9,976,533,425.00    9,976,533,425.00                      0.00

     Including: Preferred shares                             0.00                0.00                      0.00

Perpetual bonds                                              0.00                0.00                      0.00

  Lease liabilities                                          0.00                0.00                      0.00

  Long-term payables                                         0.00                0.00                      0.00

  Long-term payroll payable                                  0.00                0.00                      0.00

  Provisions                                                 0.00                0.00                      0.00

  Deferred income                                5,523,949,841.00    5,523,949,841.00                      0.00

  Deferred income tax liabilities                            0.00                0.00                      0.00

  Other non-current liabilities                 20,954,104,125.00   20,954,104,125.00                      0.00

Total non-current liabilities                   62,974,587,391.00   62,974,587,391.00                      0.00

Total liabilities                               76,838,379,099.00   76,838,379,099.00                      0.00

Owners’ equity:

  Share capital                                 34,798,398,763.00   34,798,398,763.00                      0.00

  Other equity instruments                                   0.00                0.00                      0.00


                                                                                                              36
       BOE Technology Group Co., Ltd.                                                                       Third Quarter Report 2019


     Including: Preferred shares                                         0.00                        0.00                      0.00

Perpetual bonds                                                          0.00                        0.00                      0.00

  Capital reserves                                       37,590,966,191.00            37,590,966,191.00                        0.00

  Less: Treasury stock                                                   0.00                        0.00                      0.00

  Other comprehensive income                                -28,507,585.00               -284,608,843.00            -256,101,258.00

  Specific reserve                                                       0.00                        0.00                      0.00

  Surplus reserves                                        1,152,626,310.00              1,152,625,429.00                    -881.00

  Retained earnings                                       2,392,243,713.00              2,648,336,936.00             256,093,223.00

Total owners’ equity                                    75,905,727,392.00            75,905,718,476.00                   -8,916.00

Total liabilities and owners’ equity                   152,744,106,491.00           152,744,097,575.00                   -8,916.00

Note for adjustment:
The Group began to implement the Accounting Standards for Business Enterprises No. 22 - Recognition and M easurement of
Financial Instruments, the Accounting Standards for Business Enterprises No. 23 – Transfer of Financial Assets, the Accounting
Standards for Business Enterprises No. 24 – Hedging Accounting, and the Accounting Standards for Business Enterprises No. 37 –
Presentation of Financial Instruments revised in 2017 from 1 January 2019. The Company adjusted related items of the Financial
Statements at the Beginning of the First Execution Year according to the requirements of the standards.


2. Retrospective Restatement of Previous Comparative Data due to the Execution of any New Standards
Governing Financial Instruments or Leases from 2019

□ Applicable √ Not applicable


III 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):Chen Yanshun
                                                           Date of the Board’s approval of this Report: 30th October 2019




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