Report for the First Quarter of 2011 of BOE Technology Group Co., Ltd.
BOE TECHNOLOGY GROUP CO., LTD.
REPORT FOR THE FIRST QUARTER OF 2011
§1 Important Notes
1.1 The Board of Directors, the Supervisory Committee, as well as directors,
supervisors and senior executives of BOE Technology Group Co., Ltd. (hereinafter
referred to as “the Company”) guarantee that this report does not contain any false
information, misleading statement or material omission and will take individual
and/or joint liabilities for the factuality, accuracy and completeness of this report.
1.2 Financial statements for the first quarter of 2011 have not been audited by an
accounting firm.
1.3 Mr. Wang Dongsheng, Chairman of the Board, Mr. Chen Yanshun, President of
the Company, Ms. Sun Yun, Chief Financial Officer of the Company, as well as Ms.
Yang Xiaoping, who is in charge of the Financial Planning Department, hereby
confirm that the financial statements enclosed in the quarterly report are factual and
complete.
[English Translation for Reference Only. Should there be any discrepancy between the
two versions, the Chinese version shall prevail.]
§2 Company Profile
2.1 Main accounting data and financial indices
Unit: RMB Yuan
31 Mar. 2011 31 Dec. 2010 Increase/decrease (%)
Total assets (Yuan) 56,984,860,545.00 54,229,952,769.00 5.08%
Owners’ equity attributable to shareholders of the
24,273,733,409.00 24,955,013,046.00 -2.73%
Company (Yuan)
Share capital (share) 11,267,951,951.00 11,267,951,951.00 0.00%
Net assets per share attributable to shareholders
2.15 2.21 -2.71%
of the Company (Yuan/share)
Jan.-Mar. 2011 Jan.-Mar. 2010 Increase/decrease (%)
Gross revenue (Yuan) 1,969,646,222.00 1,893,639,353.00 4.01%
Net profit attributable to shareholders of the
-674,781,964.00 -296,853,335.00 -127.31%
Company (Yuan)
Net cash flows from operating activities (Yuan) -366,268,678.00 33,675,569.00 -1,187.64%
Net cash flows per share from operating
-0.033 0.004 -925.00%
activities (Yuan/share)
Basic EPS (Yuan/share) -0.060 -0.040 -50.00%
Diluted EPS (Yuan/share) -0.060 -0.040 -50.00%
Weighted average ROE (%) -2.74% -1.66% -1.08%
Weighted average ROE after deducting
-2.81% -1.75% -1.06%
non-recurring gains and losses (%)
Report for the First Quarter of 2011 of BOE Technology Group Co., Ltd.
Items of non-recurring gains and losses
√Applicable □Inapplicable
Unit: RMB Yuan
Items of non-recurring gains and losses Amount Notes (if applicable)
Gains and losses from disposal of non-current assets -38,340.00
Government subsidies recorded into current gains and losses,
excluding those related closely to the routine business of the Company
12,278,777.00
and continuously enjoyed by the Company at fixed amounts or ratios
according to state policies and regulations
Other non-operating incomes and expenses 5,862,386.00
Income tax effects 3,719.00
Minority interests effects -1,025,003.00
Total 17,081,539.00 -
2.2 Total number of shareholders and shares held by the top ten shareholders not
subject to trading moratorium at the end of the reporting period
Unit: share
Total number of shareholders at the end of the 417,973, of which 378,031 were A-share holders and 39,942 were
reporting period B-share holders
Shares held by the top ten shareholders not subject to trading moratorium
Shares not subject to trading moratorium
Full name of shareholder Type of share
held at the period-end
1. Beijing BOE Investment & Development Co.,
717,484,233 RMB ordinary shares
Ltd.
2. Being E-TOWN International Investment &
583,333,334 RMB ordinary shares
Development Co., Ltd
3. Ke Xiping 277,800,000 RMB ordinary shares
4. Beijing Electronics Holdings Corporation 229,419,902 RMB ordinary shares
5. Beijing Zhi Shuai Investment Consulting Co.,
79,666,035 RMB ordinary shares
Ltd.
6. Beijing Industry Development & Investment
38,347,259 RMB ordinary shares
Management Co., Ltd.
7. Fields Pacific Limited 36,484,634 Domestically listed foreign shares
8. Chengdu Hi-tech Investment Group Ltd. 33,971,362 RMB ordinary shares
9. Huatai Securities Co., Ltd. 33,824,964 RMB ordinary shares
10. Chengdu Industry Investment Group Co.,
33,088,747 RMB ordinary shares
Ltd,
§3 Significant Events
3.1 Significant changes in main accounting statement items and financial indicators as
well as reasons for these changes
√Applicable □Non-applicable
1. Transactional financial assets were down 100% as compared to the end of last year,
which was mainly because forward foreign exchange agreements signed by the
Report for the First Quarter of 2011 of BOE Technology Group Co., Ltd.
Company in last year were settled in the reporting period.
2. Prepayments were up 117% as compared to the end of last year, which was mainly
because the Company made prepayments to some suppliers.
3. Other receivables were down 60% as compared to the end of last year, which was
mainly because the export VAT refunds receivable last year were collected in the
reporting period.
4. Other current assets were up 310% as compared to the end of last year, which was
mainly because overpaid VAT increased in the reporting period.
5. Construction in process was up 65% as compared to the end of last year, which was
mainly because some projects were still in the construction phase and payments for
construction and equipments increased accordingly.
6. Notes payable were up 68% as compared to the end of last year, which was mainly
because payables to suppliers increased.
7. Accounts received in advance were up 57% as compared to the end of last year,
which was mainly because advances from customers increased.
8. Non-current liabilities due within one year were up 73% as compared to the end of
last year, which was mainly because some long-term borrowings became due within
one year in the reporting period.
9. Selling expense was up 66% from a year earlier, which was mainly due to the
phasic mass production of new projects and the expansion of the consolidation scope.
10. Administrative expense was up 83% from a year earlier, which was mainly
because the consolidation scope expanded and input for the phasic mass production
and R&D of new projects increased.
11. Financial expense was down 3,067% from a year earlier, which was mainly
because monetary funds increased due to the private A-share offering and bank
deposit interest increased over last year.
12. Net cash flow by operation activities was down 1188% from a year earlier, which
was mainly because that the sale of main products was down, and the company
prepared more materials stock for the new beginning plant.
13.Net cash flow by investment activities was down 153% from a year earlier, which
was mainly because that some projects are in construction and the purchase of project
and equipment was increased.
14.Net cash flow by financing activities was up116%, which was mainly because that
the loan from the bank.
3.2 Progress of significant events as well as their influence and solutions
3.2.1 Non-standard audit opinion
□Applicable √Inapplicable
3.2.2 The Company provides funds for the controlling shareholder or its related
parties or provides external guarantees in violation of the prescribed procedure
√Applicable □Inapplicable
During the report period, the company paid 200,000.00RMB for controlling
shareholder, by the end of reporting period, the controlling shareholder has paid back
the money.
Report for the First Quarter of 2011 of BOE Technology Group Co., Ltd.
3.2.3 Significant contracts signed and executed concerning routine operation
□Applicable √Inapplicable
3.2.4 Other
√Applicable □Inapplicable
1. About the Hefei 6G TFT-LCD Production Line Project: The 6G production line
operated well in the reporting period with a stable product yield rate. It was expected
to reach full capacity (90K glass substrates per month as set) by the second quarter of
2011.
2. About the Beijing 8G TFT-LCD Production Line Project: The 8G production line
was in the process of equipment installation and debugging in the reporting period. It
was expected to put into production by the end of June 2011 and realize mass
production by the third quarter of the year.
3. The Company’s subordinate subsidiary—Hefei BOE Optoelectronics Technology
Co., Ltd.—could apply for refunds of overpaid taxes for equipment imports about
RMB 1.6 billion in total, which was disclosed by the Company in the Announcement
No. 2010-058 on 22 Dec. 2010. Up to the end of the reporting period, Hefei BOE
Optoelectronics Technology Co., Ltd. received refunds of overpaid taxes for
equipment imports of RMB 276,532,419.60 in total.
3.3 Commitments made by the Company, its shareholders and actual controller
Commitments made by the Company, its directors, supervisors, senior executives,
shareholders holding over 5% of the Company’s shares, actual controller and other
related parties in the reporting period, or such commitments carried down into the
reporting period
□Applicable √Inapplicable
3.4 Warnings of possible loss or large-margin year-on-year change of the
accumulative net profit made during the period from the beginning of the year to the
end of the next reporting period according to prediction, as well as explanations on
the reasons
√Applicable □Inapplicable
Performance forecast Deficit
1 Jan.-30 Jun. 2011 1 Jan.-30 Jun. 2010 Increase/decrease (%)
Estimated accumulative net
-135,000.00 -- -125,000.00 -54,071.00 Decrease -150.00% -- -131.00%
profit (RMB Ten thousand)
Basic EPS (RMB Yuan/share) -0.12 -- -0.11 -0.07 Decrease -84.00% -- -70.00%
1. Since 2011, prices of the Company’s main products have been lingering at low levels.
2. The 5G production line of the Company was shifted to a product line for small-sized products,
Explanation on performance which led to some costs.
forecast 3. The 6G production line of the Company was put to trial production in Sept. 2010 and then mass
production in Nov. 2010. Some loss was incurred for the production line was on the way to reach its
full capacity in the reporting period.
3.5 Other significant events
Report for the First Quarter of 2011 of BOE Technology Group Co., Ltd.
3.5.1 Securities investments
□Applicable √Inapplicable
3.5.2 Researches, interviews and visits received in the reporting period
Way of Main discussion and information
Time Place Visitor
reception provided by the Company
Conference ABC-CA Fund Management,
Field
5 Jan. 2011 Room of the China Nature Asset Management,
research
Company SWS Research
6 Jan. 2011 By phone By phone Huatai Securities
Conference
Field
13 Jan. 2011 Room of the Dongxing Securities
research
Company
Conference
Field
14 Jan. 2011 Room of the Sinolink Securities
research
Company
Conference
Field
19 Jan. 2011 Room of the AVIC Securities, Zexi Investment
research
Company Main discussion:
Conference 1. Operation of the Company and its
Field Morgan Stanley Securities,
9 Feb. 2011 Room of the future development strategy;
research Morgan Stanley Asia Limited
Company 2. Current status and development
Conference trends in the industry;
Field
25 Feb. 2011 Room of the China Galaxy Securities 3. Particulars about the Chengdu
research
Company 4.5G Production Line, Beijing 5G
Conference Production Line, Hefei 6G
Field
3 Mar. 2011 Room of the KGI, KGI Asia Production Line and Beijing 8G
research
Company Production Line;
ChinaAMC, Beijing Longrising
Conference Asset Management, China Materials provided:
Field
9 Mar. 2011 Room of the International Fund Management, The 2009 Annual Report, the
research
Company SW Asset Management, HSBC brochure of the Company and other
Jintrust, SWS Research, NuWorld materials available for public access
Conference
Field
10 Mar. 2011 Room of the Caida Securities
research
Company
Conference
Field
17 Mar. 2011 Room of the Haitong Securities
research
Company
CongRong Investment
Management Co., Ltd., Shanghai,
Conference
Field Changsheng Fund Management,
18 Mar. 2011 Room of the
research HFT Investment Management,
Company
Lord Abbett China, Minsheng
Royal Fund Management,
Report for the First Quarter of 2011 of BOE Technology Group Co., Ltd.
First-Trust Fund Management,
E-Fund Management, Haitong
Securities, Zhonghai Fund,
Huatai-PineBridge, First State
Investments, Harfor Fund
Management, China Southern
Fund, Ping An Asset
Management, GF Securities,
Dacheng Fund, CITIC Securities,
Harvest Fund
3.6 Derivative investments
□Applicable √Inapplicable
3.6.1 Derivative investments held at the end of the reporting period
□Applicable √Inapplicable
§4 Attachments
4.1 Balance Sheet
Prepared by BOE Technology Group Co., Ltd. 31 Mar. 2011 Unit: RMB Yuan
Closing balance Opening balance
Items
Consolidation The Company Consolidation The Company
Current Assets:
Monetary funds 20,830,639,175.00 2,794,947,630.00 23,997,831,673.00 11,570,776,269.00
Settlement reserves
Lendings to banks and other
financial institutions
Transactional financial assets 67,794,013.00
Notes receivable 428,420,157.00 1,009,939.00 378,937,778.00 1,309,602.00
Accounts receivable 1,460,472,955.00 53,910,233.00 1,263,204,267.00 51,608,542.00
Accounts paid in advance 87,444,793.00 2,357,012.00 40,275,676.00 7,261,899.00
Premiums receivable
Reinsurance premiums
receivable
Receivable reinsurance contract
reserves
Interest receivable 57,234,109.00 6,402,382.00 57,851,997.00 13,899,504.00
Dividend receivable 8,204,147.00 8,204,147.00
Other accounts receivable 134,171,235.00 550,439,455.00 333,128,771.00 521,691,925.00
Financial assets purchased
under agreements to resell
Inventories 1,427,181,550.00 1,712,815.00 1,300,479,825.00 1,566,813.00
Non-current assets due within 1
year
Other current assets 1,445,713,410.00 23,653,691.00 352,781,119.00 22,389,271.00
Report for the First Quarter of 2011 of BOE Technology Group Co., Ltd.
Total current assets 25,871,277,384.00 3,442,637,304.00 27,792,285,119.00 12,198,707,972.00
Non-current assets:
Entrusted loans and advances
granted
Available-for-sale financial
173,174,403.00 173,174,403.00 173,899,899.00 173,899,899.00
assets
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investment 61,881,116.00 25,501,563,744.00 63,164,307.00 16,842,762,737.00
Investing property 1,391,985,132.00 186,292,523.00 1,407,773,542.00 187,567,077.00
Fixed assets 14,792,334,187.00 371,241,596.00 15,287,867,884.00 377,003,935.00
Construction in progress 13,357,178,363.00 18,954,528.00 8,098,446,109.00 15,050,501.00
Engineering materials
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets 1,104,039,605.00 66,665,565.00 1,112,496,157.00 58,347,672.00
R&D expense
Goodwill 55,926,774.00 55,926,774.00
Long-term deferred expenses 12,255,401.00 4,328,504.00 13,270,680.00 4,601,663.00
Deferred income tax assets 50,524,175.00 51,053,166.00
Other non-current assets 114,284,005.00 56,365,390.00 173,769,132.00 58,112,218.00
Total of non-current assets 31,113,583,161.00 26,378,586,253.00 26,437,667,650.00 17,717,345,702.00
Total assets 56,984,860,545.00 29,821,223,557.00 54,229,952,769.00 29,916,053,674.00
Current liabilities:
Short-term borrowings 5,740,195,094.00 30,184,201.00 4,964,412,066.00 74,889,216.00
Borrowings from Central Bank
Customer bank deposits and
due to banks and other financial
institutions
Borrowings from banks and
other financial institutions
Transactional financial
liabilities
Notes payable 62,335,921.00 37,148,093.00
Accounts payable 2,464,814,117.00 42,003,348.00 2,267,112,387.00 5,061,943.00
Accounts received in advance 129,381,385.00 1,539,604.00 82,635,808.00 614,107,270.00
Financial assets sold for
repurchase
Handling charges and
commissions payable
Employee’s compensation
165,985,911.00 34,618,002.00 256,486,006.00 31,770,662.00
payable
Report for the First Quarter of 2011 of BOE Technology Group Co., Ltd.
Tax payable 16,720,172.00 1,521,469.00 15,603,988.00 2,223,606.00
Interest payable 67,681,243.00 156,121.00 55,863,170.00 1,324,503.00
Dividend payable 6,453,111.00 6,453,111.00 6,453,111.00 6,453,111.00
Other accounts payable 3,513,253,830.00 937,789,502.00 3,091,332,938.00 387,298,564.00
Reinsurance premiums payable
Insurance contract reserves
Payables for acting trading of
securities
Payables for acting
underwriting of securities
Non-current liabilities due
449,188,400.00 200,000,000.00 260,068,100.00 200,000,000.00
within 1 year
Other current liabilities 33,045,797.00 23,407,481.00
Total current liabilities 12,649,054,981.00 1,254,265,358.00 11,060,523,148.00 1,323,128,875.00
Non-current liabilities:
Long-term borrowings 9,501,605,076.00 7,504,827,507.00
Bonds payable
Long-term payables
Specific payables
Estimated liabilities 37,049,896.00 37,049,896.00
Deferred income tax liabilities 292,827,802.00 294,904,213.00
Other non-current liabilities 968,102,923.00 62,155,734.00 1,072,839,752.00 64,414,064.00
Total non-current liabilities 10,799,585,697.00 62,155,734.00 8,909,621,368.00 64,414,064.00
Total liabilities 23,448,640,678.00 1,316,421,092.00 19,970,144,516.00 1,387,542,939.00
Owners’ equity (or shareholders’
equity)
Paid-up capital (or share
11,267,951,951.00 11,267,951,951.00 11,267,951,951.00 11,267,951,951.00
capital)
Capital reserves 17,483,628,655.00 17,296,539,752.00 17,484,354,151.00 17,297,265,248.00
Less: Treasury stock
Specific reserves
Surplus reserves 499,092,613.00 499,092,613.00 499,092,613.00 499,092,613.00
Provisions for general risks
Retained profits -4,969,954,434.00 -558,781,851.00 -4,295,172,470.00 -535,799,077.00
Foreign exchange difference -6,985,376.00 -1,213,199.00
Total equity attributable to owners
24,273,733,409.00 28,504,802,465.00 24,955,013,046.00 28,528,510,735.00
of the Company
Minority interests 9,262,486,458.00 9,304,795,207.00
Total owners’ equity 33,536,219,867.00 28,504,802,465.00 34,259,808,253.00 28,528,510,735.00
Total liabilities and owners’
56,984,860,545.00 29,821,223,557.00 54,229,952,769.00 29,916,053,674.00
equity
4.2 Income Statement
Report for the First Quarter of 2011 of BOE Technology Group Co., Ltd.
Prepared by BOE Technology Group Co., Ltd. Jan.-Mar. 2011 Unit: RMB Yuan
Jan.-Mar. 2011 Jan.-Mar. 2010
Items
Consolidation The Company Consolidation The Company
I. Total operating revenues 1,969,646,222.00 47,030,268.00 1,893,639,353.00 50,220,892.00
Including: Sales income 1,969,646,222.00 1,893,639,353.00
Interest income
Premium income
Handling charge and
commission income
II. Total operating cost 2,719,468,666.00 69,399,404.00 2,244,330,519.00 57,106,156.00
Including: Cost of sales 2,225,369,739.00 21,198,211.00 1,879,557,273.00 19,945,334.00
Interest expenses
Handling charge and
commission expenses
Surrenders
Net claims paid
Net amount withdrawn for
the insurance contract reserve
Expenditure on policy
dividends
Reinsurance premium
Taxes and associate
4,430,424.00 1,437,591.00 4,100,445.00 1,709,542.00
charges
Selling and distribution
71,767,816.00 43,182,256.00 78,785.00
expenses
Administrative expenses 465,049,868.00 69,997,747.00 253,948,969.00 45,033,143.00
Financial expenses -96,207,662.00 -23,280,862.00 -3,037,574.00 -9,677,736.00
Asset impairment loss 49,058,481.00 46,717.00 66,579,150.00 17,088.00
Add: Gain/(loss) from change in
-8,670,137.00
fair value (“-” means loss)
Gain/(loss) from investment
-1,283,192.00 -1,198,993.00 -1,957,005.00 -1,838,262.00
(“-” means loss)
Including: share of profits in
associates and joint ventures
Foreign exchange gains (“-”
means loss)
III. Business profit (“-” means
-759,775,773.00 -23,568,129.00 -352,648,171.00 -8,723,526.00
loss)
Add: non-operating income 18,919,093.00 589,882.00 19,217,767.00 4,096,832.00
Less: non-operating expense 816,270.00 4,526.00 249,756.00 10,855.00
Including: loss from non-current
342,281.00 4,526.00 45,189.00
asset disposal
IV. Total profit (“-” means loss) -741,672,950.00 -22,982,773.00 -333,680,160.00 -4,637,549.00
Report for the First Quarter of 2011 of BOE Technology Group Co., Ltd.
Less: Income tax expense -818,944.00 -1,674,191.00
V. Net profit (“-” means loss) -740,854,006.00 -22,982,773.00 -332,005,969.00 -4,637,549.00
Attributable to owners of the
-674,781,964.00 -22,982,773.00 -296,853,335.00 -4,637,549.00
Company
Minority shareholders’
-66,072,042.00 -35,152,634.00
income
VI. Earnings per share
(I) basic earnings per share -0.060 -0.0020 -0.040 -0.0010
(II) diluted earnings per
-0.060 -0.0020 -0.040 -0.0010
share
Ⅶ. Other comprehensive incomes -6,497,673.00 -6,497,673.00 12,448,188.00 12,448,188.00
Ⅷ. Total comprehensive incomes -747,351,679.00 -29,480,446.00 -319,557,781.00 7,810,639.00
Attributable to owners of the
-681,279,637.00 -29,480,446.00 -284,405,147.00 7,810,639.00
Company
Attributable to minority
-66,072,042.00 -35,152,634.00
shareholders
4.3 Cash Flow Statement
Prepared by BOE Technology Group Co., Ltd. Jan.-Mar. 2011 Unit: RMB Yuan
Jan.-Mar. 2011 Jan.-Mar. 2010
Items
Consolidation The Company Consolidation The Company
I. Cash flows from operating
activities:
Cash received from sale of
commodities and rendering of 1,951,481,717.00 18,446,230.00 1,845,550,068.00 22,479,022.00
service
Net increase of deposits from
customers and dues from banks
Net increase of loans from the
central bank
Net increase of funds borrowed
from other financial institutions
Cash received from premium of
original insurance contracts
Net cash received from
reinsurance business
Net increase of deposits of
policy holders and investment
fund
Net increase of disposal of
tradable financial assets
Cash received from interest,
handling charges and
Report for the First Quarter of 2011 of BOE Technology Group Co., Ltd.
commissions
Net increase of borrowings
from banks and other financial
institutions
Net increase of funds in
repurchase business
Tax refunds received 208,854,987.00 71,071.00 8,368,715.00
Other cash received relating to
174,819,796.00 24,502,392.00 380,217,149.00 329,636,290.00
operating activities
Subtotal of cash inflows from
2,335,156,500.00 43,019,693.00 2,234,135,932.00 352,115,312.00
operating activities
Cash paid for goods and
1,946,823,979.00 33,186,195.00 1,735,168,924.00 8,614,862.00
services
Net increase of customer
lendings and advances
Net increase of funds deposited
in the central bank and amount
due from banks
Cash for paying claims of the
original insurance contracts
Cash for paying interest,
handling charges and
commissions
Cash for paying policy
dividends
Cash paid to and for employees 360,383,125.00 44,055,669.00 200,313,322.00 20,742,107.00
Various taxes paid 139,459,883.00 9,920,371.00 61,784,689.00 21,854,283.00
Other cash payment relating to
254,758,191.00 34,563,010.00 203,193,428.00 50,760,629.00
operating activities
Subtotal of cash outflows from
2,701,425,178.00 121,725,245.00 2,200,460,363.00 101,971,881.00
operating activities
Net cash flows from operating
-366,268,678.00 -78,705,552.00 33,675,569.00 250,143,431.00
activities
II. Cash flows from investing
activities:
Cash received from disposal of
investments
Cash received from return on
investments
Net cash received from disposal
of fixed assets, intangible assets 992,000.00 969,167.00 24,422,174.00
and other long-term assets
Cash inflows from combined
36,338,187.00
subsidiaries
Report for the First Quarter of 2011 of BOE Technology Group Co., Ltd.
Net cash received from disposal
of subsidiaries or other business
units
Return of restricted deposits in
1,552,196.00
financial institutions
Other cash received relating
331,534,887.00 22,973,826.00 29,299,468.00 31,582,500.00
to investing activities
Subtotal of cash inflows
368,865,074.00 23,942,993.00 53,721,642.00 33,134,696.00
from investing activities
Cash paid to acquire fixed
assets, intangible assets and other 6,213,351,370.00 12,294,410.00 1,345,978,645.00 82,765,144.00
long-term assets
Increase of restricted deposits
2,080,624,905.00 1,821,250,729.00
in financial institutions
Cash paid for investment 8,660,000,000.00 27,695,991.00 227,695,991.00
Net increase of pledged loans
Net cash paid to acquire
subsidiaries and other business 15,306,439.00
units
Other cash payments relating to
investing activities
Subtotal of cash outflows from
8,309,282,714.00 8,672,294,410.00 3,194,925,365.00 310,461,135.00
investing activities
Net cash flows from investing
-7,940,417,640.00 -8,648,351,417.00 -3,141,203,723.00 -277,326,439.00
activities
III. Cash flows from financing
activities:
Cash received from capital
1,500,000,000.00
contributions
Including: Cash received from
minority shareholder investments
by subsidiaries
Cash received from
5,029,205,308.00 832,060,703.00 41,066,460.00
borrowings
Cash received from issuance
of bonds
Other cash received relating to
684,792,609.00 47,500,000.00
financing activities
Subtotal of cash inflows from
5,713,997,917.00 47,500,000.00 2,332,060,703.00 41,066,460.00
financing activities
Repayment of borrowings 1,822,557,682.00 40,147,677.00 556,316,663.00
Cash paid for interest
expenses and distribution of 127,226,927.00 1,127,867.00 41,706,492.00 1,824,388.00
dividends or profit
Report for the First Quarter of 2011 of BOE Technology Group Co., Ltd.
Including: dividends or profit
paid by subsidiaries to minority
shareholders
Other cash payments relating
29,305,182.00 7,476,924.00 1,217,840.00 8,701.00
to financing activities
Sub-total of cash outflows from
1,979,089,791.00 48,752,468.00 599,240,995.00 1,833,089.00
financing activities
Net cash flows from financing
3,734,908,126.00 -1,252,468.00 1,732,819,708.00 39,233,371.00
activities
IV. Effect of foreign exchange
rate changes on cash and cash 8,753,397.00 -19,200.00 -1,624,395.00 65,276.00
equivalents
V. Net increase in cash and cash
-4,563,024,795.00 -8,728,328,637.00 -1,376,332,841.00 12,115,639.00
equivalents
Add: Cash and cash
19,097,948,638.00 11,478,796,269.00 15,003,596,344.00 2,788,892,804.00
equivalents at the period-begin
VI. Cash and cash equivalents at
14,534,923,843.00 2,750,467,632.00 13,627,263,503.00 2,801,008,443.00
the period-end
4.4 Auditor’s report
Auditor’s opinion: un-audited
