THIRD QUARTERLY REPORT 2024
October 2024
BOE Technology Group Co., Ltd. Third Quarterly Report 2024
Stock Code: 000725 Stock Name: BOE-A Announcement No. 2024-056
Stock Code: 200725 Stock Name: BOE-B Announcement No. 2024-056
BOE TECHNOLOGY GROUP CO., LTD.
THIRD QUARTERLY REPORT 2024
BOE Technology Group Co., Ltd. (hereinafter referred to as the “Company”) and all the
members of the Company’s Board of Directors hereby guarantee that the contents of this
Report are true, accurate and complete and free of any misrepresentations, misleading
statements or material omissions.
Important Notes:
The Board of Directors (or the “Board”), the Supervisory Committee as well as the directors, supervisors and
senior management of BOE Technology Group Co., Ltd. (hereinafter referred to as the “Company”) hereby
guarantee the factuality, accuracy and completeness of the contents of this Report, and shall be jointly and severally
liable for any misrepresentations, misleading statements or material omissions therein.
All the Company’s directors have attended the Board meeting for the review of this Report.
Mr. Chen Yanshun, the Company’s legal representative, Mr. Gao Wenbao, President of the Company, Ms. Yang
Xiaoping, the Company’s Chief Financial Officer, and Mr. Teng Jiao, head of the Company’s financial department
(equivalent to financial manager) hereby guarantee that the Financial Statements carried in this Report are factual,
accurate and complete.
This Report has been prepared in both Chinese and English. Should there be any discrepancies or
misunderstandings between the two versions, the Chinese version shall prevail.
The financial statements in this Report have not been audited by an independent auditor.
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BOE Technology Group Co., Ltd. Third Quarterly Report 2024
I Key Financial Information
(I) Key Accounting Data and Financial Indicators
Indicate by tick mark whether there is any retrospectively restated datum in the table below.
□Yes No
YoY
Item Q3 2024 YoY change (%) Q1-Q3 2024 change
(%)
Operating revenue (RMB) 50,345,285,330.00 8.65% 143,731,526,962.00 13.61%
Net profit attributable to the listed company’s
1,025,714,296.00 258.21% 3,309,765,650.00 223.80%
shareholders (RMB)
Net profit attributable to the listed company’s
694,457,953.00 651.97% 2,307,861,334.00 254.67%
shareholders before exceptional items (RMB)
Net cash generated from/used in operating
— — 33,869,252,080.00 46.88%
activities (RMB)
Basic earnings per share (RMB/share) 0.03 200.00% 0.09 350.00%
Diluted earnings per share (RMB/share) 0.03 200.00% 0.09 350.00%
Weighted average return on equity (%) 0.78% 0.57% 2.53% 1.82%
Item 30 September 2024 31 December 2023 YoY change (%)
Total assets (RMB) 417,412,481,177.00 419,187,099,795.00 -0.42%
Equity attributable to the listed company’s
132,019,192,350.00 129,428,307,067.00 2.00%
shareholders (RMB)
(II) Exceptional Gains and Losses
Applicable □ Not applicable
Unit: RMB
Item Q3 2024 Q1-Q3 2024 Note
Gain or loss on disposal of non-current assets (inclusive
2,429,065.00 40,550,615.00 N/A
of impairment allowance write-offs)
Government grants recognised in profit or loss (exclusive
of those that are closely related to the Company's normal
business operations and given in accordance with defined 293,751,031.00 1,061,315,838.00 N/A
criteria and in compliance with government policies, and
have a continuing impact on the Company's profit or loss)
Gain or loss on fair-value changes in financial assets and
liabilities held by a non-financial enterprise, as well as on
disposal of financial assets and liabilities (exclusive of 129,144,918.00 95,531,047.00 N/A
the effective portion of hedges that is related to the
Company's normal business operations)
Capital occupation charges on non-financial enterprises
0.00 0.00 N/A
that are charged to current gains and losses
Gains and losses on investment or asset management
0.00 0.00 N/A
entrustments to other entities
Gains and losses on loan entrustment 0.00 0.00 N/A
Allowance for asset impairments due to acts of God such
0.00 0.00 N/A
as natural disasters
Reversed portion of impairment allowance for accounts
525,498.00 3,621,887.00 N/A
receivable which are tested individually for impairment
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BOE Technology Group Co., Ltd. Third Quarterly Report 2024
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 0.00 0.00 N/A
fair value of identifiable net assets of investees when
making investments
Current gains and losses on subsidiaries acquired through
business mergers under same control from period- 0.00 0.00 N/A
beginning to merger dates, net
Gains and losses on non-monetary asset swap 0.00 0.00 N/A
Gains and losses on debt restructuring 0.00 0.00 N/A
One-off costs incurred by the Company as a result of
discontinued operations, such as expenses for employee 0.00 0.00 N/A
arrangements
One-time effect on profit or loss due to adjustments in
0.00 0.00 N/A
tax, accounting and other laws and regulations
One-time share-based payments recognized due to
0.00 0.00 N/A
cancellation and modification of equity incentive plans
Gain or loss on changes in the fair value of employee
benefits payable after the vesting date for cash-settled 0.00 0.00 N/A
share-based payments
Gain or loss on fair-value changes in investment property
of which subsequent measurement is carried out using the 0.00 0.00 N/A
fair value method
Income from transactions with distinctly unfair prices 0.00 0.00 N/A
Gain or loss on contingencies that are unrelated to the
0.00 0.00 N/A
Company's normal business operations
Income from charges on entrusted management 0.00 0.00 N/A
Non-operating income and expense other than the above 38,699,907.00 108,190,346.00 N/A
Other gains and losses that meet the definition of
0.00 0.00 N/A
exceptional gain/loss
Less: Income tax effects 33,818,809.00 38,023,346.00 N/A
Non-controlling interests effects (net of tax) 99,475,267.00 269,282,071.00 N/A
Total 331,256,343.00 1,001,904,316.00 --
Other items that meet the definition of exceptional gain/loss:
□Applicable Not applicable
No such cases in the Reporting Period.
Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item listed in the Explanatory Announcement No.
1 on Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Gain/Loss Items:
□Applicable Not applicable
No such cases in the Reporting Period.
(III) Changes in Key Financial Statement Line Items and Explanation of why
Applicable □ Not applicable
Changes in key line items of the balance sheet and explanation of why:
1. Construction in progress as at 30 September 2024 declined 32% compared to 1 January 2024, primarily driven by new construction
projects transferred to fixed assets during the Reporting Period.
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BOE Technology Group Co., Ltd. Third Quarterly Report 2024
Changes in key line items of the income statement and explanation of why:
1. Other income declined 51% during Q1-Q3 2024 compared to Q1-Q3 2023, primarily driven by the decreased government grants
during the Reporting Period.
2. Asset impairment loss rose 186% during Q1-Q3 2024 compared to Q1-Q3 2023, primarily driven by the inventory valuation
allowances established according to the lower between the costs and net realizable value during the Reporting Period.
3. Return on investment declined 121% during Q1-Q3 2024 compared to Q1-Q3 2023, primarily driven by the decreased returns
recognized on investments in associates during the Reporting Period.
4. Gain on changes in fair value declined 49% during Q1-Q3 2024 compared to Q1-Q3 2023, primarily driven by the changes in the
fair value of investments in equity instruments during the Reporting Period.
Changes in key line items of the cash flow statement and explanation of why:
1. Net cash generated from operating activities rose 46.88% during Q1-Q3 2024 compared to Q1-Q3 2023, primarily driven by the
increased sales during the Reporting Period.
2. Net cash generated from investing activities declined 562.05% during Q1-Q3 2024 compared to Q1-Q3 2023, primarily driven by
the increased payments for the construction and acquisition of long-lived assets during the Reporting Period.
3. Net cash generated from financing activities rose 62.27% during Q1-Q3 2024 compared to Q1-Q3 2023, primarily driven by the
repayment of perpetual bonds and the repurchase of equities during the same period of last year.
II Shareholder Information
(I) Numbers of Ordinary Shareholders and Preference Shareholders with Resumed Voting Rights as well
as Holdings of Top 10 Shareholders
Unit: share
Number of ordinary shareholders 1,164,635 (including 1,133,471 A-shareholders and 31,164 B-shareholders)
Top 10 shareholders (exclusive of shares lent in refinancing)
Shareho Shares in pledge, marked or
Nature of lding Total shares Restricted frozen
Name of shareholder
shareholder percenta held shares
Status Shares
ge
Beijing State-owned Capital Operation State-owned
10.79% 4,063,333,333 0 N/A 0
and Management Company Limited legal person
Hong Kong Securities Clearing Company Foreign
7.13% 2,682,567,255 0 N/A 0
Ltd. legal person
Beijing BOE Investment & Development State-owned
2.18% 822,092,180 0 N/A 0
Co., Ltd. legal person
Beijing Jing Guorui Soe Reform and
Other 1.91% 718,132,854 0 N/A 0
Development Fund (L.P.)
Industrial and Commercial Bank of China
Co., Ltd.- Huatai-Pinebridge CSI 300 Other 1.88% 707,161,547 0 N/A 0
Exchange-Traded Fund
State-owned
Hefei Jianxiang Investment Co., Ltd. 1.77% 666,195,772 0 N/A 0
legal person
Domestic
Fuqing Huirong Venture Capital Group non-state-
1.43% 538,599,640 0 N/A 0
Co., Ltd. owned legal
person
China Construction Bank Co., Ltd.- E
Fund CSI 300 Initiating Exchange-Traded Other 1.25% 470,565,623 0 N/A 0
Fund
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BOE Technology Group Co., Ltd. Third Quarterly Report 2024
Perseverance Asset Management-
Other 0.94% 352,999,919 0 N/A 0
Perseverance Xiaofeng No.2 Zhixin Fund
Domestic
Ningxia Risheng High-tech Industry Co., non-state-
0.88% 331,487,366 0 N/A 0
Ltd. owned legal
person
Top 10 unrestricted shareholders (exclusive of shares lent in refinancing and locked shares of executives)
Shares by class and number
Name of shareholder Unrestricted shares held
Status Shares
Beijing State-owned Capital Operation RMB ordinary
4,063,333,333 4,063,333,333
and Management Company Limited share
Hong Kong Securities Clearing Company RMB ordinary
2,682,567,255 2,682,567,255
Ltd. share
Beijing BOE Investment & Development RMB ordinary
822,092,180 822,092,180
Co., Ltd. share
Beijing Jing Guorui Soe Reform and RMB ordinary
718,132,854 718,132,854
Development Fund (L.P.) share
Industrial and Commercial Bank of China
RMB ordinary
Co., Ltd.- Huatai-Pinebridge CSI 300 707,161,547 707,161,547
share
Exchange-Traded Fund
RMB ordinary
Hefei Jianxiang Investment Co., Ltd. 666,195,772 666,195,772
share
Fuqing Huirong Venture Capital Group RMB ordinary
538,599,640 538,599,640
Co., Ltd. share
China Construction Bank Co., Ltd.- E
RMB ordinary
Fund CSI 300 Initiating Exchange-Traded 470,565,623 470,565,623
share
Fund
Perseverance Asset Management- RMB ordinary
352,999,919 352,999,919
Perseverance Xiaofeng No.2 Zhixin Fund share
Ningxia Risheng High-tech Industry Co., RMB ordinary
331,487,366 331,487,366
Ltd. share
1. Beijing State-owned Capital Operation and Management Company Limited indirectly held 100%
equities of Beijing Jing Guorui Investment Management Co., Ltd. and directly held 77.5918% shares
of Beijing Jing Guorui Soe Reform and Development Fund (L.P.); Beijing Jing Guorui Investment
Management Co., Ltd. is the general partner of Beijing Jing Guorui Soe Reform and Development
Related or acting-in-concert parties
Fund (L.P.). In addition, among the nine members of the Investment Decision-Making Committee
among the shareholders above
of Beijing Jing Guorui Soe Reform and 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. held 331,487,366 shares in the
Company via its customer credit transactions secured securities account in Orient Securities
Top 10 ordinary shareholders involved in
Company Limited.
securities margin trading (if any)
2. Except for the aforesaid, as of the end of the Reporting Period, the remaining top 10 ordinary
shareholders of the Company were not involved in securities margin trading.
5% or greater shareholders, top 10 shareholders and Top 10 unrestricted shareholders involved in refinancing shares lending
Applicable □ Not applicable
Unit: share
5% or greater shareholders, top 10 shareholders and Top 10 unrestricted shareholders involved in refinancing shares lending
Shares in the common Shares lent in Shares in the common Shares lent in
account and credit refinancing and not account and credit refinancing and not
account at the period- yet returned at the account at the period- yet returned at the
Full name of shareholder
begin period-begin end period-end
As % of Total As % As % of Total As % of
Total shares Total shares
total shares of total shares total share
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BOE Technology Group Co., Ltd. Third Quarterly Report 2024
share total share capital
capital share capital
capital
Industrial and Commercial Bank of
China Co., Ltd.- Huatai-Pinebridge 279,619,047 0.74% 140,700 0.00% 707,161,547 1.88% 0 0.00%
CSI 300 Exchange-Traded Fund
Fuqing Huirong Venture Capital Group
535,302,540 1.42% 3,297,100 0.01% 538,599,640 1.43% 0 0.00%
Co., Ltd.
China Construction Bank Co., Ltd.- E
Fund CSI 300 Initiating Exchange- 105,023,223 0.28% 127,200 0.00% 470,565,623 1.25% 0 0.00%
Traded Fund
Note: The ‘period-begin’ in the table above refers to 1 January 2024.
Changes in top 10 shareholders and top 10 unrestricted shareholders due to refinancing shares lending/return compared with the prior
period
□Applicable Not applicable
(II) Number of Preference Shareholders and Shareholdings of Top 10 of Them
□Applicable Not applicable
III Other Significant Events
Applicable □ Not applicable
1. On 9 July 2024, the Company disclosed the Announcement on Resignation of Director (Announcement No: 2024-038). Mr. Zhu
Baocheng submitted his resignation as a director and Vice Chairman of the Board of the Company due to work arrangement, and will
not hold any position in the Company after his resignation. On 25 July 2024, the Company disclosed the Announcement on the
Resolutions of the First Extraordinary General Meeting of Shareholders of 2024 (Announcement No: 2024-040). The Proposal on
Electing Supervisor of the 10th Supervisory Committee of the Company was approved, with Mr. Song Ligong elected as a supervisor
of the 10th Supervisory Committee. On 25 July 2024, the Company disclosed the Announcement on Resignation of Senior
Management (Announcement No: 2024-041). Mr. Liu Xiaodong submitted his resignation as a member of the Executive Committee
of the Company due to age, and will continue to hold a position in the Company to carry forward significant projects, etc. after his
resignation. On 25 July 2024, the Company disclosed the Announcement on the Resolutions of the 32nd Meeting of the 10th Board of
Directors (Announcement No: 2024-042). The Proposal on Adjusting the Composition of the Executive Committee and Appointing
Senior Management was approved. The current senior management member, Mr. Feng Qiang, was promoted from a member of the
Executive Committee and Executive Vice President to Vice Chairman of the Executive Committee. The Board of Directors appointed
Mr. Liu Zhiqiang as a member of the Executive Committee and Senior Vice President. On 21 September 2024, the Company disclosed
the Announcement on Resignation of Senior Management (Announcement No: 2024-051). Mr. Zhang Yu submitted his resignation
as a member of the Executive Committee and Executive Vice President of the Company due to work arrangement, and will not hold
any position in the Company after his resignation. On 16 October 2024, the Company disclosed the Announcement on Resignation of
Director (Announcement No: 2024-053). Mr. Wu Lishun submitted his resignation as a director and a member of the special
committees of the Board of Directors of the Company due to work arrangement, and will not hold any position in the Company after
his resignation. On 31 October 2024, the Company disclosed the Announcement on the Resolutions of the 38th Meeting of the 10th
Board of Directors (Announcement No: 2024-054). The Proposal on Appointing Senior Management was approved. The Board of
Directors appointed Mr. Liu Jing as a member of the Executive Committee and Vice President and Mr. Yun Xiangnan as a member
of the Executive Committee and Vice President.
2. The Company held the 15th Meeting of the 9th Board of Directors and the 2nd Extraordinary General Meeting of 2020 on 27
August 2020 and 17 November 2020 respectively and deliberated and approved the 2020 Stock Option and Restricted Stock Grant
Program, in which the Company intends to implement the Equity Incentive Scheme, including both the Stock Option Incentive
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BOE Technology Group Co., Ltd. Third Quarterly Report 2024
Scheme and the Restricted Stock Incentive Scheme. Following the approval of the Proposal on the First Grant of Stock Options and
Restricted Shares to Incentive Objects at the 20th Meeting of the 9th Board of Directors and the 8th Meeting of the 9th Supervisory
Committee, the Company disclosed the Announcement on Completion of Registration of the First Grant of the 2020 Stock Option
and Restricted Stock Incentive Scheme (Announcement No. 2020-086) on 30 December 2020. Following the approval of the Proposal
on the Awarding of Reserved Stock Options to Incentive Objects at the 31st Meeting of the 9th Board of Directors and the 13th
Meeting of the 9th Supervisory Committee, the Company disclosed the Announcement on Completion of Registration of the Reserved
and Granted Stock Option of the 2020 Stock Option and Restricted Stock Incentive Scheme (Announcement No.: 2021-084) on 23
October 2021. The Company disclosed the Announcement on the Achievement of the Exercise Conditions for the Second Exercise
Period of the Stock Options Reserved for Grant under the 2020 Stock Option and Restricted Stock Incentive Plan (Announcement
No. 2024-048) on 28 August 2024. The total number of incentive recipients meeting the conditions for the exercise of options is 83,
and the number of stock options exercisable is 8,116,020, accounting for 0.02% of the Company’s total share capital.
3. The Company disclosed the Announcement on the Public Offering of Corporate Bonds to Professional Investors Obtaining
Registration Approval from the CSRC (Announcement No. 2024-052) on 9 October 2024. The Company received the CSRC Permit
[2024] No. 1330, which agreed to the Company's public offering of corporate bonds with an aggregate nominal value of no more than
RMB10 billion to professional investors.
IV Quarterly Financial Statements
(I) Financial Statements
1. Consolidated Balance Sheet
Prepared by BOE Technology Group Co., Ltd.
Unit: RMB
Item 30 September 2024 1 January 2024
Current assets:
Monetary assets 78,187,712,310.00 72,467,392,718.00
Settlement reserve 0.00 0.00
Loans to other banks and financial institutions 0.00 0.00
Held-for-trading financial assets 6,594,822,403.00 7,755,964,495.00
Derivative financial assets 0.00 0.00
Notes receivable 396,823,205.00 375,577,011.00
Accounts receivable 33,134,986,943.00 33,365,416,490.00
Receivables financing 469,610,187.00 408,534,622.00
Prepayments 636,540,101.00 558,659,780.00
Premiums receivable 0.00 0.00
Reinsurance receivables 0.00 0.00
Receivable reinsurance contract reserve 0.00 0.00
Other receivables 598,130,921.00 726,659,207.00
Including: Interest receivable 0.00 0.00
Dividends receivable 0.00 0.00
Financial assets purchased under resale agreements 0.00 0.00
Inventories 24,471,616,670.00 24,119,667,325.00
Including: Data resource 0.00 0.00
Contract assets 98,974,492.00 95,710,742.00
Assets held for sale 0.00 0.00
Current portion of non-current assets 7,479,738.00 8,683,381.00
Other current assets 3,331,237,475.00 3,308,338,931.00
Total current assets 147,927,934,445.00 143,190,604,702.00
Non-current assets:
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BOE Technology Group Co., Ltd. Third Quarterly Report 2024
Loans and advances to customers 0.00 0.00
Debt investments 0.00 0.00
Other debt investments 0.00 0.00
Long-term receivables 488,242.00 3,341,844.00
Long-term equity investments 13,188,405,407.00 13,731,696,627.00
Investments in other equity instruments 502,419,179.00 494,629,577.00
Other non-current financial assets 2,318,679,164.00 2,253,778,325.00
Investment property 1,866,040,015.00 1,412,553,446.00
Fixed assets 209,816,408,816.00 210,371,476,524.00
Construction in progress 20,317,424,822.00 29,670,115,546.00
Productive living assets 0.00 0.00
Oil and gas assets 0.00 0.00
Right-of-use assets 798,924,796.00 724,344,345.00
Intangible assets 11,272,897,833.00 11,565,585,700.00
Including: Data resource 0.00 0.00
Development costs 116,823,331.00 166,977,531.00
Including: Data resource 0.00 0.00
Goodwill 704,705,586.00 704,705,586.00
Long-term prepaid expense 479,425,796.00 534,494,564.00
Deferred income tax assets 596,174,045.00 396,877,020.00
Other non-current assets 7,505,729,700.00 3,965,918,458.00
Total non-current assets 269,484,546,732.00 275,996,495,093.00
Total assets 417,412,481,177.00 419,187,099,795.00
Current liabilities:
Short-term borrowings 1,758,410,444.00 1,746,184,534.00
Borrowings from the central bank 0.00 0.00
Loans from other banks and financial institutions 0.00 0.00
Held-for-trading financial liabilities 0.00 0.00
Derivative financial liabilities 0.00 0.00
Notes payable 1,490,370,364.00 919,313,033.00
Accounts payable 33,538,474,593.00 32,977,603,351.00
Advances from customers 23,293,181.00 94,704,981.00
Contract liabilities 3,092,227,082.00 3,000,168,620.00
Financial assets sold under repurchase agreements 0.00 0.00
Customer deposits and deposits from other banks and
0.00 0.00
financial institutions
Payables for acting trading of securities 0.00 0.00
Payables for underwriting of securities 0.00 0.00
Employee benefits payable 3,706,856,991.00 3,100,911,276.00
Taxes and levies payable 1,500,345,151.00 1,317,080,022.00
Other payables 17,584,374,440.00 19,487,760,965.00
Including: Interest payable 0.00 175,698.00
Dividends payable 24,144,928.00 39,014,714.00
Fees and commissions payable 0.00 0.00
Reinsurance payables 0.00 0.00
Liabilities directly associated with assets held for sale 0.00 0.00
Current portion of non-current liabilities 35,304,787,600.00 24,437,027,442.00
Other current liabilities 3,536,040,429.00 3,085,773,591.00
Total current liabilities 101,535,180,275.00 90,166,527,815.00
Non-current liabilities:
Insurance contract reserve 0.00 0.00
Long-term borrowings 104,822,667,640.00 121,546,339,022.00
Bonds payable 0.00 0.00
Including: Preference shares 0.00 0.00
Perpetual bonds 0.00 0.00
Lease liabilities 699,547,736.00 542,141,496.00
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BOE Technology Group Co., Ltd. Third Quarterly Report 2024
Long-term payables 155,682,099.00 171,611,393.00
Long-term employee benefits payable 0.00 0.00
Provisions 3,580,000.00 3,580,000.00
Deferred income 4,777,199,716.00 4,763,051,955.00
Deferred income tax liabilities 1,481,485,123.00 1,694,639,729.00
Other non-current liabilities 2,493,961,716.00 2,500,522,066.00
Total non-current liabilities 114,434,124,030.00 131,221,885,661.00
Total liabilities 215,969,304,305.00 221,388,413,476.00
Owners’ equity:
Share capital 37,649,981,416.00 37,652,529,195.00
Other equity instruments 2,025,759,110.00 2,043,402,946.00
Including: Preference shares 0.00 0.00
Perpetual bonds 2,025,759,110.00 2,043,402,946.00
Capital reserves 52,219,856,580.00 52,113,580,746.00
Less: Treasury stock 228,132,634.00 462,036,240.00
Other comprehensive income -1,083,732,526.00 -1,136,997,224.00
Specific reserve 141,209,525.00 66,472,402.00
Surplus reserves 3,571,778,635.00 3,571,778,635.00
General reserve 0.00 0.00
Retained earnings 37,722,472,244.00 35,579,576,607.00
Total equity attributable to owners of the Company as the parent 132,019,192,350.00 129,428,307,067.00
Non-controlling interests 69,423,984,522.00 68,370,379,252.00
Total owners’ equity 201,443,176,872.00 197,798,686,319.00
Total liabilities and owners’ equity 417,412,481,177.00 419,187,099,795.00
Legal representative: Chen Yanshun President of the Company’s Execution Committee: Gao Wenbao
Chief Financial Officer: Yang Xiaoping Head of the Company’s Financial Department: Teng Jiao
2. Consolidated Income Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2024 Q1~Q3 2023
1. Revenues 143,731,526,962.00 126,515,073,265.00
Including: Operating revenue 143,731,526,962.00 126,515,073,265.00
Interest income 0.00 0.00
Insurance premium income 0.00 0.00
Fee and commission income 0.00 0.00
2. Costs and expenses 138,602,226,180.00 129,569,938,404.00
Including: Cost of sales 120,031,045,882.00 112,401,485,781.00
Interest expense 0.00 0.00
Fee and commission expense 0.00 0.00
Surrenders 0.00 0.00
Net insurance claims paid 0.00 0.00
Net amount provided as insurance contract reserve 0.00 0.00
Expenditure on policy dividends 0.00 0.00
Reinsurance premium expense 0.00 0.00
Taxes and levies 948,343,350.00 832,447,130.00
Selling expense 3,276,431,919.00 2,844,265,710.00
Administrative expense 4,279,365,236.00 4,263,034,730.00
R&D expense 8,823,894,392.00 8,146,625,989.00
Finance costs 1,243,145,401.00 1,082,079,064.00
Including: Interest expense 3,037,656,516.00 3,049,519,745.00
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BOE Technology Group Co., Ltd. Third Quarterly Report 2024
Interest income 1,757,214,611.00 1,490,881,748.00
Add: Other income 1,486,572,111.00 3,028,949,599.00
Return on investment (“-” for loss) -147,989,541.00 708,920,094.00
Including: Share of profit or loss of joint ventures
-297,377,764.00 614,405,306.00
and associates
Income from the derecognition of
0.00 0.00
financial assets at amortized cost (“-” for loss)
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) 64,434,231.00 126,636,801.00
Credit impairment loss (“-” for loss) -31,082,421.00 15,296,112.00
Asset impairment loss (“-” for loss) -3,844,557,105.00 -1,344,978,071.00
Asset disposal income (“-” for loss) 10,809,326.00 12,242,941.00
3. Operating profit (“-” for loss) 2,667,487,383.00 -507,797,663.00
Add: Non-operating income 165,887,427.00 267,233,438.00
Less: Non-operating expense 55,832,151.00 48,065,446.00
4. Gross profit (“-” for loss) 2,777,542,659.00 -288,629,671.00
Less: Income tax expense 840,256,816.00 1,107,368,073.00
5. Net profit (“-” for net loss) 1,937,285,843.00 -1,395,997,744.00
5.1 By operating continuity
5.1.1 Net profit from continuing operations (“-” for net
1,937,285,843.00 -1,395,997,744.00
loss)
5.1.2 Net profit from discontinued operations (“-” for net
0.00 0.00
loss)
5.2 By ownership
5.2.1 Net profit attributable to shareholders of the Company
3,309,765,650.00 1,022,157,403.00
as the parent (“-” for net loss)
5.2.2 Net profit attributable to non-controlling interests (“-”
-1,372,479,807.00 -2,418,155,147.00
for net loss)
6. Other comprehensive income, net of tax 63,130,099.00 294,067,594.00
Attributable to owners of the Company as the parent 67,824,592.00 206,138,073.00
6.1 Items that will not be reclassified to profit or loss 41,258,125.00 24,851,001.00
6.1.1 Changes caused by remeasurements on defined
0.00 0.00
benefit schemes
6.1.2 Other comprehensive income that will not be
6,186,990.00 11,074,578.00
reclassified to profit or loss under the equity method
6.1.3 Changes in the fair value of investments in other
35,071,135.00 13,776,423.00
equity instruments
6.1.4 Changes in the fair value arising from changes in
0.00 0.00
own credit risk
6.1.5 Other 0.00 0.00
6.2 Items that will be reclassified to profit or loss 26,566,467.00 181,287,072.00
6.2.1 Other comprehensive income that will be
0.00 40,654.00
reclassified to profit or loss under the equity method
6.2.2 Changes in the fair value of other debt investments 0.00 0.00
6.2.3 Other comprehensive income arising from the
0.00 0.00
reclassification of financial assets
6.2.4 Credit impairment allowance for other debt
0.00 0.00
investments
6.2.5 Reserve for cash flow hedges 0.00 0.00
6.2.6 Differences arising from the translation of foreign
26,566,467.00 181,246,418.00
currency-denominated financial statements
6.2.7 Other 0.00 0.00
Attributable to non-controlling interests -4,694,493.00 87,929,521.00
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BOE Technology Group Co., Ltd. Third Quarterly Report 2024
7. Total comprehensive income 2,000,415,942.00 -1,101,930,150.00
7.1 Attributable to owners of the Company as the parent 3,377,590,242.00 1,228,295,476.00
7.2 Attributable to non-controlling interests -1,377,174,300.00 -2,330,225,626.00
8. Earnings per share
8.1 Basic earnings per share 0.09 0.02
8.2 Diluted earnings per share 0.09 0.02
Where business combinations under common control occurred in the current period, the net profit achieved by the acquirees before
the combinations was RMB0.00, with the amount for the same period of last year being RMB0.00.
Legal representative: Chen Yanshun President of the Company’s Execution Committee: Gao Wenbao
Chief Financial Officer: Yang Xiaoping Head of the Company’s Financial Department: Teng Jiao
3. Consolidated Cash Flow Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2024 Q1~Q3 2023
1. Cash flows from operating activities:
Proceeds from sale of commodities and rendering of services 157,029,796,628.00 128,861,224,373.00
Net increase in customer deposits and deposits from other
0.00 0.00
banks and financial institutions
Net increase in borrowings from the central bank 0.00 0.00
Net increase in loans from other financial institutions 0.00 0.00
Premiums received on original insurance contracts 0.00 0.00
Net proceeds from reinsurance 0.00 0.00
Net increase in deposits and investments of policy holders 0.00 0.00
Interest, fees and commissions received 0.00 0.00
Net increase in loans from other banks and financial
0.00 0.00
institutions
Net increase in proceeds from repurchase transactions 0.00 0.00
Net proceeds from acting trading of securities 0.00 0.00
Tax and levy rebates 7,412,260,417.00 7,559,093,705.00
Cash generated from other operating activities 2,460,372,219.00 4,181,752,774.00
Subtotal of cash generated from operating activities 166,902,429,264.00 140,602,070,852.00
Payments for commodities and services 108,325,875,778.00 95,755,057,940.00
Net increase in loans and advances to customers 0.00 0.00
Net increase in deposits in the central bank and other banks
0.00 0.00
and financial institutions
Payments for claims on original insurance contracts 0.00 0.00
Net increase in loans to other banks and financial institutions 0.00 0.00
Interest, fees and commissions paid 0.00 0.00
Policy dividends paid 0.00 0.00
Cash paid to and for employees 14,671,663,429.00 13,385,072,461.00
Taxes and levies paid 4,141,702,815.00 3,088,503,388.00
Cash used in other operating activities 5,893,935,162.00 5,314,157,308.00
Subtotal of cash used in operating activities 133,033,177,184.00 117,542,791,097.00
Net cash generated from/used in operating activities 33,869,252,080.00 23,059,279,755.00
2. Cash flows from investing activities:
Proceeds from disinvestment 29,124,904,292.00 58,685,205,131.00
Return on investment 598,537,867.00 416,695,592.00
Net proceeds from the disposal of fixed assets, intangible
94,270,981.00 16,546,021.00
assets and other long-lived assets
Net proceeds from the disposal of subsidiaries and other
0.00 0.00
business units
12
BOE Technology Group Co., Ltd. Third Quarterly Report 2024
Cash generated from other investing activities 2,086,355,404.00 3,102,733,058.00
Subtotal of cash generated from investing activities 31,904,068,544.00 62,221,179,802.00
Payments for the acquisition of fixed assets, intangible assets
23,528,299,873.00 15,107,704,462.00
and other long-lived assets
Payments for investments 31,323,487,421.00 50,370,146,815.00
Net increase in pledged loans granted 0.00 0.00
Net payments for the acquisition of subsidiaries and other
0.00 165,331,097.00
business units
Cash used in other investing activities 13,576,187.00 46,233,055.00
Subtotal of cash used in investing activities 54,865,363,481.00 65,689,415,429.00
Net cash generated from/used in investing activities -22,961,294,937.00 -3,468,235,627.00
3. Cash flows from financing activities:
Capital contributions received 2,663,757,000.00 1,438,770,202.00
Including: Capital contributions by non-controlling interests
2,663,757,000.00 1,438,770,202.00
to subsidiaries
Borrowings received 28,296,631,553.00 22,403,007,817.00
Cash generated from other financing activities 32,859,119.00 47,648,917.00
Subtotal of cash generated from financing activities 30,993,247,672.00 23,889,426,936.00
Repayment of borrowings 33,303,275,960.00 24,579,665,192.00
Interest and dividends paid 5,420,980,532.00 7,302,357,493.00
Including: Dividends paid by subsidiaries to non-controlling
27,452,890.00 76,330,524.00
interests
Cash used in other financing activities 486,625,574.00 13,784,654,546.00
Subtotal of cash used in financing activities 39,210,882,066.00 45,666,677,231.00
Net cash generated from/used in financing activities -8,217,634,394.00 -21,777,250,295.00
4. Effect of foreign exchange rates changes on cash and cash
-92,500,888.00 771,184,697.00
equivalents
5. Net increase in cash and cash equivalents 2,597,821,861.00 -1,415,021,470.00
Add: Cash and cash equivalents, beginning of the period 52,092,981,748.00 64,382,037,764.00
6. Cash and cash equivalents, end of the period 54,690,803,609.00 62,967,016,294.00
(II) Adjustments to Financial Statement Items at the Beginning of the Year of the First Implementation of
the New Accounting Standards Implemented since 2024
□ 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.
BOE Technology Group Co., Ltd.
Board of Directors
30 October 2024
13
