BOE Technology Group Co., Ltd. Annual Report 2023
(Summary)
Stock Code: 000725, 200725 Stock Name: BOE-A, BOE-B Announcement No. 2024-020
BOE TECHNOLOGY GROUP CO., LTD.
ANNUAL REPORT 2023 (SUMMARY)
Part I Important Notes
This Summary is based on the full Annual Report of BOE Technology Group Co., Ltd. (together with its consolidated subsidiaries, the
“Company”, except where the context otherwise requires). In order for a full understanding of the Company’s operating results,
financial position and future development plans, investors should carefully read the aforesaid full text, which has been disclosed
together with this Summary on the media designated by the China Securities Regulatory Commission (the “CSRC”).
All the Company’s directors have attended the Board meeting for the review of this Report and its summary.
Independent auditor’s modified opinion:
□ Applicable Not applicable
Board-approved final cash and/or stock dividend plan:
Applicable □ Not applicable
Bonus issue from capital reserves:
□ Yes No
The Board has approved a final dividend plan for the Reporting Period. Based on 37,652,529,195 shares, a cash dividend of RMB0.3
(tax inclusive) per 10 shares is to be distributed to all the shareholders, with no bonus issue from either profit or capital reserves.
Board-approved final cash and/or stock dividend plan for preference shareholders:
□ Applicable Not applicable
This Report and its summary have been prepared in both Chinese and English. Should there be any discrepancies or misunderstandings
between the two versions, the Chinese versions shall prevail.
Part II Key Corporate Information
1. Stock Profile
Stock name BOE-A, BOE-B Stock code 000725, 200725
Stock exchange for stock
Shenzhen Stock Exchange
listing
Previous stock name (if any) N/A
Contact information Board Secretary Securities Representative
Name Liu Hongfeng Luo Wenjie
12 Xihuan Middle Road, Beijing Economic- 12 Xihuan Middle Road, Beijing Economic-
Office Address
Technological Development Area, P.R.China Technological Development Area, P.R.China
Fax 010-64366264 010-64366264
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BOE Technology Group Co., Ltd. Annual Report 2023
(Summary)
Tel. 010-64318888 ext. 010-64318888 ext.
E-mail address liuhongfeng@boe.com.cn luowenjie@boe.com.cn
2. Principal Activities or Products in the Reporting Period
(I) About the Company
In constant pursuit of excellence, BOE Technology Group Co., Ltd. is an innovative IoT company dedicated to providing intelligent
interface products and professional services for information interaction and human health.
With the vision “To Be the Most Respected Company on Earth”, and upholding the values of integrity & reliability, dedication to
customers, being people-oriented, openness and innovation, as well as the business philosophy of doing the right thing, innovation and
progress seeking, BOE has been forging ahead through innovation. Upon three decades of development in the industry, BOE has grown
into a world leader in the semiconductor display industry and an innovative company in the IoT sector. At present, it has a significant
number of intelligent manufacturing bases in Beijing, Hefei, Chengdu, Chongqing, Fuzhou, Mianyang, Wuhan, Kunming, Ordos, etc.,
with subsidiaries in the United States, Germany, Japan, South Korea, Singapore, India, Vietnam, Mexico, Brazil, the United Arab
Emirates and other countries and regions, as well as a service system that covers multiple regions of the world, such as Europe,
Americas, Asia, and Africa. To embrace the development trends of the IoT era, BOE has put in place a development architecture of
"1+4+N+Ecosystem", among which:
"1" represents semiconductor display, which is the core capacity and quality resources accumulated by BOE, as well as the source and
origin of the Company's transformation and development.
"4" is a high-potential channel and direction of development selected based on BOE's core competence and value chain extension, as
well as the four main fronts of the Company's IoT transformation, namely the IoT Innovation business, the Sensor business, the MLED
business and the Smart Engineering Medicine business.
"N" refers to the subdivided application scenarios of IoT that are continuously explored and cultivated by BOE, as well as the specific
focus of the Company's IoT transformation development.
“Ecosystem” is an industrial ecological development circle constructed by the Company in collaboration with many partners and by
aggregating the resources of the industrial chain and ecosystem chain.
(II) About the Company’s principal operations
1. The Display Devices business
The Display Devices business offers integrated design and manufacturing services for devices, and is committed to providing interface
devices applying TFT-LCD, AMOLED, Microdisplay and other technologies, focusing on providing customers with high-quality
display devices for smartphones, tablet PCs, laptops, monitors, TVs, vehicles, VR/AR devices, etc.
2. The IoT Innovation business
The IoT Innovation business offers integrated design and manufacturing services for system solutions, and provides customers with
competitive smart terminal products for TVs, monitors, laptops, tablets, low-power devices, IoT, 3D display, etc. Backed by AI and
big data technologies, it focuses on products and services combining hardware and software, providing integrated IoT solutions for
segments including smart industrial parks, smart finance, etc.
3. The Sensor business
The Sensor and Solution business offers integrated design and manufacturing services for glass- and silicon-based system solutions,
focuses on smart display windows, innovative glass-based sensor devices, MEMS sensors, industrial sensors, consumer electronics and
other fields, and provides customers with products and solutions including intelligent PDLC windows and PDLC system solutions,
industrial sensors and solutions, MEMS sensors, and back plates for flat panel X-ray detectors (FPXD), among others.
4. The MLED business
MLED business renders LED backlight products with high quality and reliability for LCD of TVs, monitors, notebooks, vehicles,
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BOE Technology Group Co., Ltd. Annual Report 2023
(Summary)
VR/AR devices, etc., as well as Mini/Micro-LED display products with high brightness, high reliability and high contrast for segment
markets of outdoor, commercial, transparent, specialized and other displays. All these products are designed and manufactured in an
integrated manner.
5. The Smart Engineering Medicine business
The Smart Engineering Medicine business adopts a professional service model to provide products, services and solutions in relation
to medical care, smart nursing, medical-engineering integration, etc. Meanwhile, this business is committed to providing a closed loop
of through-life health services with health management as the core, medical terminals as the traction, and digital hospitals and
recreational communities as the support. It connects testing equipment, healthcare workers and customers through the smart health
management ecosystem where customers enjoy professional health services including prevention, treatment, therapy and nursing.
6. The “N” business
With a specific focus on the "N" business, the Company provides hardware and software integrated system solutions for different
segments, including smart vehicle connection, industrial IoT, digital art, etc., which can provide customers with all-dimensional, one-
stop and smart new experience under IoT scenarios. For example, in terms of smart vehicle connection, the business integrates DMS,
gesture recognition, touch feedback, naked-eye 3D and other cutting-edge functions, focuses on the intelligent cockpit "HERO"
innovative application scenarios that include four dimensions of healthiness, entertainment, relaxation, and office, and provides
customers with professional integrated solutions, which can bring a new and more intelligent driving experience. The industrial IoT
business provides enterprises with solutions, products, and services like smart production, smart factory, and cloud services. Relying
on its self-developed industrial Internet platform, it helps realise refined operation and management and achieve cost reduction and
efficiency enhancement from all procedures of design, supply, production, and sales, offering all-dimensional, one-stop and smart
industrial IoT solutions to customers and empowering customers in their digital transformation. In the field of digital artworks, the
business adheres to "culture + technology" cross-field integration and innovation, launches the "one million digital culture experience
scenario programme" around International Standard H.629.1 for digital art display, and join hands with ecosystem partners at the
content-, technology- and application-ends, so as to empower culture with display products and solutions with more functions and
forms and better experience.
3. Key Financial Information
(1) Key Financial Information of the Past Three Years
Indicate by tick mark whether there is any retrospectively restated datum in the table below.
Yes □ No
Reason for retrospective restatement:
Change of accounting policy.
Unit: RMB
Change of
31
December
31 December 2022 2023 over 31 December 2021
Item 31 December 2023 31
December
2022 (%)
Before Restated Restated Before Restated
Total assets 419,187,099,795.00 420,562,103,212.00 420,567,865,936.00 -0.33% 449,726,980,355.00 450,232,603,404.00
Equity
129,428,307,067.00 136,089,410,395.00 136,086,175,204.00 -4.89% 142,925,547,899.00 143,204,240,947.00
attributable to the
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BOE Technology Group Co., Ltd. Annual Report 2023
(Summary)
listed company’s
shareholders
2023-over-
2022 2022 change 2021
Item 2023 (%)
Before Restated Restated Before Restated
Operating revenue 174,543,445,895.00 178,413,731,179.00 178,413,731,179.00 -2.17% 219,309,799,505.00 221,035,718,012.00
Net profit
attributable to the
2,547,435,360.00 7,550,877,790.00 7,541,423,198.00 -66.22% 25,830,935,500.00 25,960,751,646.00
listed company’s
shareholders
Net profit
attributable to the
listed company’s
-632,561,344.00 -2,228,652,161.00 -2,238,106,753.00 71.74% 23,937,539,752.00 24,067,355,898.00
shareholders
before exceptional
gains and losses
Net cash
generated
from/used in 38,301,826,884.00 43,021,967,305.00 43,021,967,305.00 -10.97% 62,270,556,324.00 62,698,688,556.00
operating
activities
Basic earnings per
share 0.06 0.19 0.19 -68.42% 0.71 0.71
(RMB/share)
Diluted earnings
per share 0.06 0.19 0.19 -68.42% 0.71 0.71
(RMB/share)
Weighted average
return on equity 1.89% 5.45% 5.45% -3.56% 23.84% 23.93%
(%)
Reason for accounting policy change and correction of accounting error:
As required by Interpretations No. 16 and No. 15 for the Accounting Standards for Business Enterprises issued by the Ministry of
Finance, the Group has retrospectively restated relevant financial statement items at the beginning of the year and in the same period
of last year. The said changes of accounting policies have no significant impact on the Company’s financial condition and operating
results.
(2) Key Financial Information by Quarter
Unit: RMB
Item Q1 Q2 Q3 Q4
Operating revenue 37,973,495,034.00 42,204,380,186.00 46,337,198,045.00 48,028,372,630.00
Net profit attributable to the listed
247,315,140.00 488,494,469.00 286,347,794.00 1,525,277,957.00
company’s shareholders
Net profit attributable to the listed
company’s shareholders before -1,667,931,828.00 83,491,537.00 92,352,417.00 859,526,530.00
exceptional gains and losses
Net cash generated from/used in
10,122,426,068.00 6,121,243,055.00 6,815,610,632.00 15,242,547,129.00
operating activities
Indicate by tick mark whether any of the quarterly financial data in the table above or their summations differs materially from what
have been disclosed in the Company’s quarterly or interim reports.
□ Yes No
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BOE Technology Group Co., Ltd. Annual Report 2023
(Summary)
4. Share Capital and Shareholder Information at the Period-End
(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
Number of ordinary
1,262,795 (including 1,231,014 A- shareholders at the month- 1,189,106（including 1,157,510 A-
shareholders at the
shareholders and 31,781 B-shareholders) end prior to the disclosure shareholders and 31,596 B-shareholders）
period-end
of this Report
Top 10 shareholders (exclusive of shares lent in refinancing)
Total shares Shares in pledge, marked
Shareholding Restricted or frozen
Name of shareholder Nature of shareholder held at the
percentage shares held
period-end Status Shares
Beijing State-owned Capital
State-owned legal
Operation and Management Company 10.79% 4,063,333,333 0 N/A 0
person
Limited
Hong Kong Securities Clearing
Foreign legal person 6.05% 2,278,498,375 0 N/A 0
Company Ltd.
Beijing BOE Investment & State-owned legal
2.18% 822,092,180 0 N/A 0
Development Co., Ltd. person
Beijing Jing Guorui Soe Reform and
Other 1.91% 718,132,854 0 N/A 0
Development Fund (L.P.)
State-owned legal
Hefei Jianxiang Investment Co., Ltd. 1.77% 666,195,772 0 N/A 0
person
Fuqing Huirong Venture Capital Co., Domestic non-state-
1.42% 535,302,540 0 In pledge 15,000,000
Ltd. owned legal person
Perseverance Asset Management-
Perseverance Xiaofeng No.2 Zhixin Other 0.93% 349,999,919 0 N/A 0
Fund
Ningxia Risheng High-tech Industry Domestic non-state-
0.90% 339,525,766 0 N/A 0
Co., Ltd. owned legal person
Xu Lili Foreign natural person 0.89% 336,599,581 0 N/A 0
FOTIC-Foreign Trade Trust-
Perseverance Xiaofeng Hongyuan Other 0.88% 329,988,907 0 N/A 0
Assembled Fund Trust Plan
1. Beijing State-owned Capital Operation and Management Company Limited indirectly held 100% equities
of Beijing Jingguorui Investment Management Co., Ltd. and directly held 77.5918% shares of Beijing Jing
Guorui Soe Reform and Development Fund (L.P.); Beijing Jingguorui Investment Management Co., Ltd. is
the general partner of Beijing Jing Guorui Soe Reform and Development Fund (L.P.). In addition, among the
Related or acting-in-concert parties
nine members of the Investment Decision-Making Committee of Beijing Jing Guorui Soe Reform and
among the shareholders above
Development Fund (L.P.), three are nominated by Beijing State-owned Capital Operation and Management
Company Limited.
2. Except for the above relationships, the Company does not know any other connected party or acting-in-
concert party among the top 10 shareholders.
1. Shareholder Ningxia Risheng High-tech Industry Co., Ltd. totally held 339,525,766 shares in the Company,
among which, 42,583,700 shares were held via its general securities account and 296,942,066 shares via its
customer credit transactions secured securities account in Ping An Securities Co., Ltd.
2. Shareholder Xu Lili totally held 336,599,581 shares in the Company, among which, 10,657,200 shares were
held via its general securities account, 248,713,498 shares via its customer credit transactions secured
Shareholders involved in securities securities account in GF Securities Co., Ltd. and 77,228,883 shares via its customer credit transactions secured
margin trading (if any) securities account in Ping An Securities Co., Ltd.
3. The shares held by Shareholder Fuqing Huirong Venture Capital Co., Ltd. in the Company increase by
1,318,200 shares due to securities refinancing.
4. Except for the aforesaid, the remaining top 10 ordinary shareholders were not involved in securities
refinancing.
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BOE Technology Group Co., Ltd. Annual Report 2023
(Summary)
Note: 1. After the non-public issuing of BOE in 2014, Hefei Jianxiang Investment Co., Ltd., by entering into Implementation Protocol
of Voting Right, 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.
2.The number of ordinary shareholders at the month-end prior to the disclosure of this Report is as of 20 March 2024. At the month-
end prior to the disclosure of this Report (29 March 2024), the number of A-shareholders is 1,150,568. Due to the "T+3" trading rule
for B-shares, the Company had had no access, by the date of this Report’s disclosure, to the number of its B-shareholders at the month-
end prior to the disclosure of this Report from China Securities Depository and Clearing Corporation Limited.
Top 10 shareholders involved in refinancing shares lending
Applicable □ Not applicable
Unit: share
Top 10 shareholders involved in refinancing shares lending
Shares in the common
Shares lent in refinancing Shares in the common Shares lent in refinancing
account and credit
and not yet returned at the account and credit account and not yet returned at the
account at the period-
period-begin at the period-end period-end
Full name of shareholder begin
As % of As % of As % of As % of
Total shares total share Total shares total share Total shares total share Total shares total share
capital capital capital capital
Fuqing Huirong Venture
533,984,340 1.40% 4,615,300 0.01% 535,302,540 1.42% 3,297,100 0.01%
Capital Co., Ltd.
Changes in shares that the top 10 shareholders lend in refinancing compared with the prior period
Applicable □ Not applicable
Unit: share
Changes in shares that the top 10 shareholders lend in refinancing compared with the end of the prior period
Shares in the common account and credit
Increase/dec Shares lent in refinancing and not yet
account plus shares lent in refinancing and
rease in the returned at the period-end
Full name of shareholder not yet returned at the period-end
Reporting
Period As % of total share As % of total
Total shares Total shares
capital share capital
Perseverance Asset Management-
Increase 0 0.00% 349,999,919 0.93%
Perseverance Xiaofeng No.2 Zhixin Fund
Xu Lili Increase 0 0.00% 336,599,581 0.89%
FOTIC-Foreign Trade Trust- Perseverance
Xiaofeng Hongyuan Assembled Fund Trust Increase 0 0.00% 329,988,907 0.88%
Plan
Sinatay Life Insurance Co., Ltd.-Traditional
Decrease 0 0.00% 305,330,128 0.81%
Product
Beijing Electronics Holdings Co., Ltd. Decrease 0 0.00% 273,735,583 0.73%
Beijing Yizhuang Investment Holdings Co.,
Decrease 0 0.00% 109,295,841 0.29%
Ltd
(2) Number of Preferred Shareholders and Shareholdings of Top 10 of Them
□ Applicable Not applicable
No preferred shareholders in the Reporting Period.
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BOE Technology Group Co., Ltd. Annual Report 2023
(Summary)
(3) Ownership and Control Relations between the Actual Controller and the Company
Note: 1. After the non-public issuing of the Company in 2014, Beijing State-owned Capital Operation and Management Company
Limited handed over 70% of the shares directly held by it to Beijing Electronics Holdings Co., Ltd. for management through Stock
Management Protocol, and Beijing Electronics Holdings Co., Ltd. gained the incidental shareholders’ rights except for disposing right
and usufruct of the shares, of which the rest 30% voting right maintained unanimous with Beijing Electronics Holdings Co., Ltd.
through the agreement according to Implementation Protocol of Voting Right.
2. During the non-public issuing of the Company in 2021, Beijing Jing Guorui Soe Reform and Development Fund (L.P.) signed the
Acting-in-Concert Agreement with Beijing Electronics Holdings Co., Ltd.
3. Beijing BOE Investment & Development Co., Ltd. completed the capital reduction on 1 December 2023 and became the wholly-
owned subsidiary of Beijing Electronics Holdings Co., Ltd.
5. Outstanding Bonds at the Date when this Report Was Authorized for Issue
Applicable □ Not applicable
(1) Bond Profile
Balance
Coupon
Bond name Abbr. Bond code Date of issue Maturity (RMB’0,00
rate
0)
2022 Public Offering of
Renewable Corporate Bonds of
BOE (for professional 22BOEY1 149861 24 March 2022 25 March 2025 200,000 3.50%
investors) (Digital Economy)
(Phase I)
The 2020 Public Offering of Renewable Corporate Bonds of BOE (for qualified investors)
(Phase I) (Epidemic Prevention and Control Bonds) (bond name: 20BOEY1; nominal
value: RMB2 billion) were redeemed in full on 28 February 2023.
Bond redemption and interest The 2020 Public Offering of Renewable Corporate Bonds of BOE (for qualified investors)
payment during the Reporting Period (Phase II) (Epidemic Prevention and Control Bonds) (bond name: 20BOEY2; nominal
value: RMB2 billion) were redeemed in full on 20 March 2023.
The 2020 Public Offering of Renewable Corporate Bonds of BOE (for qualified investors)
(Phase III) (Epidemic Prevention and Control Bonds) (bond name: 20BOEY3; nominal
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BOE Technology Group Co., Ltd. Annual Report 2023
(Summary)
value: RMB2 billion) were redeemed in full on 27 April 2023.
(2) Latest Rating and Rating Change
On 26 May 2023, United Credit Ratings Co., Ltd. issued the Follow-up Rating Report of the 2023 for the Renewable Corporate Bonds
of BOE Technology Group Co., Ltd. According to the Report, the issuer was still granted with a corporate long-term credit rating of
AAA with rating outlook rated as Stable; the bond credit rating remained AAA. The Follow-up Rating Report was published on
http://www.cninfo.com.cn/ and the website of United Ratings at www.unitedratings.com.cn on 26 May 2023.
United Credit Ratings Co., Ltd. is expected to issue the Follow-up Rating Report of the 2024 for the Renewable Corporate Bonds of
BOE Technology Group Co., Ltd. in May 2024. The Company will disclose the follow-up rating analysis report to investors on
http://www.cninfo.com.cn/ in time.
(3) Selected Financial Information of the Company for the Past Two Years
Unit: RMB'0,000
Item 2023 2022 Change
Debt/asset ratio 52.81% 51.96% 0.85%
Net profit before exceptional
-63,256 -223,811 71.74%
gains and losses
EBITDA/debt ratio 27.05% 25.57% 1.48%
Interest cover (times) 1.45 1.01 43.56%
Part III Significant Events
1. On 18 October 2019, the Company disclosed the Announcement on the Company’s Application for CSRC’s Approval for its Public
Issue of Renewable Corporate Bonds (Announcement No. 2019-052), and the Company received the No. [2019] 1801 Approval from
CSRC. Based on the approval, the Company could publicly issue the renewable corporate bonds with the nominal value no more than
RMB30 billion to qualified investors. Among them, the redeemed and delisted bonds are detailed in the table below:
Bond Date of Redemption
Bond name Abbr. Maturity and delisting Disclosure index
code issue
date
2019 Public Offering of Renewable
28 October 29 October 31 October
Corporate Bonds of BOE (for qualified 19BOEY1 112741
2019 2022 2022
investors) (Phase I)
2020 Public Offering of Renewable
27 28
Corporate Bonds of BOE (for qualified 28 February
20BOEY1 149046 February February
investors) (Phase I) (epidemic 2023
2020 2023
prevention and control bonds)
2020 Public Offering of Renewable www.cninfo.com.cn
Corporate Bonds of BOE (for qualified 18 March 19 March 20 March
20BOEY2 149065
investors) (Phase II) (epidemic 2020 2023 2023
prevention and control bonds)
2020 Public Offering of Renewable
Corporate Bonds of BOE (for qualified 24 April 27 April
20BOEY3 149108 27 April 2023
investors) (Phase III) (epidemic 2020 2023
prevention and control bonds)
The bond outstanding as of the disclosure date of this Report is as follows:
Bond name Abbr. Bond code Date of issue Maturity
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BOE Technology Group Co., Ltd. Annual Report 2023
(Summary)
2022 Public Offering of Renewable
Corporate Bonds of BOE (for
22BOEY1 149861 24 March 2022 25 March 2025
professional investors) (Digital
Economy) (Phase I)
The Company disclosed 2024 "22BOEY1" Interest Payment Announcement (Announcement No. 2024-005) on 21 March 2024. The
interest payment plan was RMB35.00 (including tax) every ten bonds.
2. On 16 January 2021, the Company disclosed the Announcement on the Resolution of the 21st Meeting of the 9th Board of Directors
(Announcement No. 2021-001) and the Plan for Non-Public Offering of A-Shares in 2021, and other related announcements, in which
the Company intends to make a non-public offering of A-shares to no more than 35 specific investors including Jing Guorui Fund. The
net fund raised was expected to be no more than RMB20 billion. On 19 August 2021, the Company disclosed the Report on the Non-
public Offering of A-shares by BOE Technology Group Co., Ltd. & the Announcement on the Listing of these Shares (announcement
No. 2021-058), along with other relevant announcements. 3,650,377,019 new shares were issued in the non-public offering, which
were listed on the Shenzhen Stock Exchange on 20 August 2021. The Company disclosed the Suggestive Announcement on Relieving
Restricted Non-publicly Offered A Shares in 2021 (Announcement No. 2023-004) on 17 February 2023. A total of 718,132,854
restricted shares of the Company's non-publicly offered A shares in 2021 were relieved on 20 February 2023 and could be traded on
the market thereafter. The number of the relieved restricted shares accounted for 1.9324% of the Company's non-restricted shares, and
1.8801% of the Company's total share capital.
3. The Company disclosed the Announcement on Resignation of Senior Management (Announcement No. 2023-006) on 2 March 2023,
due to the change of work, Mr. Miao Chuanbin applied for resignation as Senior Vice President and Chief Culture Officer and will not
hold any position in the Company after his resignation. The Company disclosed the Announcement on Resignation of Senior
Management (Announcement No. 2023-013) on 1 April 2023, due to personal reasons, Mr. Xie Zhongdong applied for resignation as
Senior Vice President, Chief Audit Officer and Chief Risk Control Officer and will not hold any position in the Company after his
resignation. The Company disclosed the Announcement of Resolutions of the 13th Meeting of the 10th Board of Directors
(Announcement No. 2023-014) on 4 April 2023, at the 13th Meeting of the 10th Board of Directors, the Company considered and
approved the Proposal on the Appointment of Senior Management of the Company and Adjustment of the Composition of the Executive
Committee of the Company, the Board of Directors appointed Mr. Feng Qiang as a member of the Executive Committee and Executive
Vice President, Mr. Guo Huaping as Senior Vice President and Chief Cultural Officer; and to adjust the current senior management of
the Company, Ms. Yang Xiaoping, from Senior Vice President and Chief Financial Officer to a member of the Executive Committee,
Executive Vice President and Chief Financial Officer. The Company disclosed the Announcement of Resolutions of the 15th Meeting
of the 10th Board of Directors (Announcement No. 2023-028) on 29 April 2023. At the 15th Meeting of the 10th Board of Directors
of the Company, the Proposal on the Appointment of Senior Management of the Company was reviewed and approved, and the Board
of Directors appointed Mr. Yue Zhanqiu as Senior Vice President and Chief Audit Officer of the Company.
4. On 31 May 2023, the Company disclosed the Announcement No. 2023-034 on the Distribution of the 2022 Fial Dividend. As the
2022 Final Dividend Plan had been approved at the 2022 Annual General Meeting on 5 May 2023, the Company distributed a 2022
final dividend of RMB0.61 per 10 shares (dividend to B-shareholders paid in HKD according to the central parity rate of RMB and
HKD declared by the People’s Bank of China on the first working day immediately after the date of the relevant general meeting
resolution), with no bonus issue from either profit or capital reserves.
5. On 25 July 2023, the Company disclosed the Announcement on the Resolutions of the 17th Meeting of the 10th Board of Directors
(Announcement No. 2023-037) that Mr. Wu Lishun was nominated by the Company’s de facto controller, Beijing Electronics Holdings
Co., Ltd., as a non-independent director for the 10th Board of Directors of the Company. On 15 August 2023, the Company disclosed
the Announcement on the Resolutions of the 1st Extraordinary General Meeting of 2023 (Announcement No. 2023-041), at which the
Proposal on the Election of Non-independent Director of the 10th Board of Directors of the Company was deliberated and approved,
and Mr. Wu Lishun was elected as a non-independent director of the 10th Board of Directors of the Company.
6. On 27 August 2020, the Company held the 15th Meeting of the 9th Board of Directors and approved the Proposal on the Repurchase
of Certain Public Shares of the Company, whereby the Company proposed to use its own funds to repurchase a portion of RMB-
denominated ordinary shares (A-Shares) issued by the Company by means of centralized bidding for the purpose of the implementation
of the Company’s equity incentive plan. The implementation of the share repurchase plan of the Company was completed on 3
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BOE Technology Group Co., Ltd. Annual Report 2023
(Summary)
September 2020 and 349,999,933 A-Shares were accumulatively repurchased via centralized bidding. For details, please refer to the
Announcement on the Completion of the Implementation of the Share Repurchase Plan and the Results of the Implementation
(Announcement No. 2020-058) disclosed by the Company on 5 September 2020. On 21 December 2020, the Company granted
321,813,800 restricted shares to 793 incentive targets and details are in the relevant announcement disclosed by the Company on 22
December 2020. On 25 July 2023, the Company disclosed the Announcement on the Resolutions of the 17th meeting of the 10th Board
of Directors (Announcement No.: 2023-037) and the Announcement on the Cancellation of Certain Treasury Shares in the Company’s
Special Securities Account for Repurchase (Announcement No.: 2023-038). In accordance with the Rules for the Repurchase of Shares
by Listed Companies and Shenzhen Stock Exchange Listed Companies Self-Regulatory Guidelines No. 9 - Share Repurchase, the
remaining unutilized 28,186,133 shares in the special securities account for repurchase will expire three years from 5 September 2023,
and the Company shall cancelled them and handle relevant cancellation procedures in accordance with regulations. On 15 August 2023,
the Company disclosed the Announcement on the Resolutions of the 1st Extraordinary General Meeting of 2023 (Announcement No.
2023-041) that the Proposal on the Cancellation of Certain Treasury Shares in the Company’s Special Securities Account for
Repurchase was deliberated and approved at the meeting. On 31 August 2023, the Company disclosed the Announcement on the
Completion of the Cancellation of Certain Treasury Shares in the Company’s Special Securities Account for Repurchase and Share
Changes (Announcement No.: 2023-050). The aforesaid 28,186,133 treasury shares have been cancelled on 29 August 2023 with the
Shenzhen branch of China Securities Depository and Clearing Co., Ltd., with the cancelled number of shares, date of completion and
term of retirement all in compliance with the applicable laws and regulations.
7. According to the Proposal of Repurchase of Certain Public Shares by the Company deliberated and adopted in the thirty-first meeting
of the ninth session of the Board of Directors meeting held on 27 August 2021, the Company is allowed to use its own funds to
repurchase certain of its shares for the implementation of the Company’s share incentive plan. On 28 February 2022, the
implementation of the proposal to repurchase certain of its shares through centralised price bidding transactions was completed, and
the cumulative number of A shares repurchased amounted to 499,999,919, details of which are set out in the Announcement on the
Completed Implementation of Share Repurchase Programme and Repurchase Implementation Results (Announcement No. 2022-007)
dated 2 March 2022. On 29 November 2023, the Company disclosed the Announcement of Resolutions of the Twenty-third Meeting of
the Tenth Session of the Board of Directors (Announcement No. 2023-063) and the Announcement on Changing the Purpose of the
Repurchased Shares and Cancelling Them (Announcement No. 2023-065), which stated that according to the actual situation of the
Company and in order to safeguard the interests of the general public of investors, the Company intends to change the purpose of the
repurchase of the Company’s shares for the year 2021 from “for the implementation of the Company’s share incentive program” to
“for cancellation and corresponding reduction of registered capital”. On 15 December 2023, the Company disclosed the Announcement
of Resolutions of the Third Extraordinary General Meeting of 2023 (Announcement No. 2023-068), at which the Resolution on
Changing the Use of the Repurchased Shares for the Purposes of the Repurchase and for Cancellation was deliberated and approved.
On 27 December 2023, the Company disclosed the Announcement on the Completion of the Retirement of Repurchased Shares &
Share Changes (Announcement No. 2022-071). The aforesaid 499,999,919 treasury shares have been cancelled on 25 December 2023
with the Shenzhen branch of China Securities Depository and Clearing Co., Ltd., with the cancelled number of shares, date of
completion and term of retirement all in compliance with the applicable laws and regulations.
Overview of significant event Disclosure date Disclosure website
Announcement on the Signing of Supplemental Agreement (III) to the
Cooperation Agreement for the Life Science and Technology Industrial Base 10 June 2023 www.cninfo.com.cn
Project
Announcement on Investment and Construction of BOE Vietnam Project 29 August 2023 www.cninfo.com.cn
Announcement on Participation of Subsidiary in Establishment of Beijing-
Tianjin Joint Development (Beijing) Equity Investment Fund Partnership 31 October 2023 www.cninfo.com.cn
(Limited Partnership) and the Related-party Transaction
Announcement on the Investment for the Development of the Project of the
29 November 2023 www.cninfo.com.cn
Production Lines of the 8.6th Generation AMOLED
Announcement on Participation of Subsidiary in Establishment of Beijing
29 November 2023 www.cninfo.com.cn
Xianzhilian Phase II Venture Capital Fund (Limited Partnership)
10
BOE Technology Group Co., Ltd. Annual Report 2023
(Summary)
Chairman of the Board (signature): Mr. Chen Yanshun
Date of the Board’s approval of this Report: 29 March 2024
11
