BOE TECHNOLOGY GROUP CO., LTD.
THE THIRD QUARTERLY REPORT 2011
(Full Text)
October 2011
1
BOE TECHNOLOGY GROUP CO., LTD.
THE THIRD QUARTERLY REPORT 2011
§1 Important Notice
1.1 The Board of Directors, the Supervisory Committee, directors, supervisors and
other senior management personnel of BOE Technology Group Co., Ltd. (hereinafter
referred to as the Company) hereby guarantee that this report carries no false
information, misleading statements or major omissions, and accept, individually and
collectively, the responsibility for the factuality, accuracy and completeness of the
information set forth herein.
1.2 The Financial Report in this quarterly report has not been audited by a CPA firm.
1.3 Mr. Wang Dongsheng and Mr. Chen Yanshun, Person-in-charge of the Company,
Ms. Sun Yun, Person-in-charge of the accounting work, and Ms. Yang Xiaoping,
Person-in-charge of the accounting organ (Financial manager) hereby confirm the
factuality and completeness of the Financial Report in this quarterly report.
§2. Company Profile
2.1 Main accounting data and financial indexes
Unit: RMB Yuan
As at 30 Sept. 2011 As at 31 Dec. 2010 Increase/decrease (%)
Total assets (Yuan) 64,956,153,690.00 54,229,952,769.00 19.78%
Owners’ equity attributable to
22,743,662,796.00 24,955,013,046.00 -8.86%
shareholders of listed company (Yuan)
Share capital (Share) 13,521,542,341.00 11,267,951,951.00 20.00%
Net assets per share attributable to
shareholders of listed company (Yuan 1.68 2.21 -23.98%
/share)
Increase/decrease Increase/decrease
Jul.-Sept. 2011 Jan.-Sept. 2011
year-on-year (%) year-on-year (%)
Total operation income (Yuan) 3,574,602,557.00 77.34% 8,514,636,554.00 37.29%
Net profit attributable to shareholders -2,143,088,601.0
-927,604,124.00 -106.99% -116.73%
of listed company (Yuan) 0
Net cash flows generated from -1,045,906,306.0
- - -309.48%
operating activities (Yuan) 0
Net cash flows per share generated
- - -0.08 -166.67%
from operating activities (Yuan /share)
Basic earnings per share (Yuan /share) -0.07 -40.00% -0.16 -33.33%
Diluted earnings per share (Yuan
-0.07 -40.00% -0.16 -33.33%
/share)
Weighted average return on net assets
-3.99% -1.39% -8.99% -3.34%
(%)
Weighted average return on net assets
after deducting non-recurring gains -4.18% -1.46% -9.40% -3.52%
and losses (%)
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 9,061,219.00
Government subsidies measured into the current period
gains and losses, excluding those government subsidies
closely related to the Company’s normal business that the 82,728,932.00
Company enjoyed continually at the certain standard rating
and in conformity with provisions of policies of the State
Impairment reserves reversal of account receivables
3,000.00
individually taking the impairment tests
Gains and losses on change in fair value from tradable
-8,670,137.00
financial assets and tradable financial liabilities, as well as
2
investment income from disposal of tradable financial
assets and tradable financial liabilities and financial assets
available for sales except for effective hedging related
with normal businesses of the Company
Other non-operating income and expenses besides the
17,389,689.00
above items
Effect on income tax -330,116.00
Effect on minority interests -1,249,536.00
Total 98,933,051.00 -
2.2 Total number of shareholders and shareholding of top ten shareholders holding
tradable shares
Unit: share
465,373 shareholders (including 424,819 A-share holders and
Total number of shareholders
40,554 B-share holders)
Shareholding of top ten shareholders holding tradable shares
Number of tradable shares held
Full name of shareholder Type of share
at period-end
BEIJING BOE INVESTMENT &
860,981,080 RMB ordinary shares
DEVELOPMENT CO., LTD.
BEIJING E-TOWN INTERNATIONAL
700,000,001 RMB ordinary shares
INVESTMENT & DEVELOPMENT CO., LTD.
BEIJING ELECTRONICS HOLDING CO.,
275,303,883 RMB ordinary shares
LTD.
KE XIPING 254,000,000 RMB ordinary shares
BEIJING INDUSTRY DEVELOPMENT &
46,016,711 RMB ordinary shares
INVESTMENT MANAGEMENT CO., LTD.
Domestically listed foreign
CITI(NOMINEES)LIMITED 43,661,561
shares
Domestically listed foreign
HUANG YINGBIN 43,171,594
shares
CHENGDU HI-TECH INVESTMENT GROUP
40,765,635 RMB ordinary shares
LTD.
CHENGDU INDUSTRY INVESTMENT
39,706,497 RMB ordinary shares
GROUP CO., LTD.
UBS CUSTODY SERVICES SINGAPORE PTE. Domestically listed foreign
33,362,328
LTD shares
§3. Significant events
3.1 Particulars about large-margin changes in main items of accounting statements
and financial indexes, as well as reasons for the changes
√Applicable □Inapplicable
1. Transactional financial assets decreased 100% over the end of last year, which was
mainly because some forward foreign exchange contracts signed last year to avoid any
foreign currency exchange risk that might be incurred by exchange rate fluctuations
were settled in the reporting period.
2. Account receivables increased 65% over the end of last year, which was mainly
because receivables from customers due to products sold to them increased after the
new projects realized mass production.
3. Prepayments increased 154% over the end of last year, which was mainly because
prepayments for purchases increased in the reporting period.
4. Interest receivable increased 50% over the end of last year, which was mainly
because monetary funds increased due to the private A-share issue carried out by the
Company last year.
5. Other receivables decreased 55% over the end of last year, which was mainly
because the VAT export rebates receivable last year were received by the Company in
the reporting period.
3
6. Inventory increased 42% over the end of last year, which was mainly because the
new projects realized mass production.
7. Other current assets increased 286% over the end of last year, which was mainly
because the overpaid VAT increased in the reporting period.
8. Available-for-sale financial assets decreased 38% over the end of last year, which
was mainly because fair values of available-for-sale financial assets dropped in the
reporting period.
9. Construction in process increased 121% over the end of last year, which was mainly
because some projects were still in the construction period and the expenses on
construction and equipment purchases increased accordingly.
10. Short-term borrowings increased 84% over the end of last year, which was mainly
because some foreign-currency borrowings were obtained for the projects still in the
construction period.
11. Accounts payable increased 41% over the end of last year, which was mainly
because payables to suppliers increased.
12. Accounts received in advance increased 154% over the end of last year, which was
mainly because advances from customers increased.
13. Interest payable increased 63% over the end of last year, which was mainly due to
more borrowings.
14. Non-current liabilities due within one year increased 276% over the end of last
year, which was mainly because some long-term borrowings became due within one
year.
15. Long-term borrowings increased 88% over the end of last year, which was mainly
due to more borrowings for the new projects.
16. Operating revenues increased 37% over the same period of last year, which was
mainly because the new production lines were finished and put into operation,
generating more sales incomes.
17. Operating cost increased 48% over the same period of last year, which was mainly
because the new production lines were finished and put into operation and the
operating cost increased along with the growth of operating revenues.
18. Selling expense increased 80% over the same period of last year, which was mainly
because the new production lines were finished and put into operation and the
consolidation scope expanded.
19. Financial expense increased 227% over the same period of last year, which was
mainly because the interest expense increased in the reporting period.
20. Asset impairment loss increased 265% over the same period of last year, which was
mainly because some provisions were made for inventories and other assets according
to market conditions.
21. Non-business income increased 117% over the same period of last year, which was
mainly because governmental subsidies increased in the reporting period.
22. Net cash flows from operating activities decreased 309% over the same period of
last year, which was mainly due to fluctuations in markets for main products in the
reporting period.
3.2 Progress and influence of significant events, as well as the analysis on solutions
3.2.1 Concerning non-standard audit opinions
□Applicable √Inapplicable
3.2.2 Whether the Company provided funds for the controlling shareholder or its
related parties or provided guarantees for external parties in violation of prescribed
4
procedures
√Applicable □Inapplicable
During the report period, the company paid 630,000.00RMB for controlling
shareholder, by the end of reporting period, the controlling shareholder has paid back
the money.
3.2.3 Signing and execution of significant contracts concerning the routine operation
□Applicable √Inapplicable
3.2.4 Others
√Applicable □Inapplicable
1. About the Beijing 8G TFT-LCD Production Line Project: The project had
successfully realized mass production in the third quarter of 2011 with comprehensive
product yield rate as 85%.
2. The Company’s subordinate subsidiary—Hefei BOE Optoelectronics Technology
Co., Ltd.—could apply for refunds of overpaid taxes for equipment imports, which was
disclosed by the Company in the Announcement No. 2010-058 on 22 Nov. 2010. Up to
30 Sept. 2011, Hefei BOE Optoelectronics Technology Co., Ltd. had received refunds
of overpaid taxes for equipment imports of RMB 1.283 billion in total.
3.3 Fulfillment of commitments made by the Company, shareholders and the actual
controller
Commitments made by the Company, its directors, supervisors, senior executives,
shareholders with an over 5% shareholding, actual controller and other stakeholders
during the reporting period, or such commitments carried down into the reporting
period:
□Applicable √Inapplicable
3.4 Warnings of possible losses or major changes of the accumulative net profit
achieved during the period from the year-begin to the end of the next reporting period
compared with the same period of last year, as well as explanation on reasons
√Applicable □Inapplicable
Performance forecast Deficit
1 Jan. 2010-31
1 Jan. 2011-31 Dec. 2011 Increase/ decrease (%)
Dec. 2010
Estimated accumulative net
-320,000.00 -- -300,000.00 -200,381.31 Decrease - -- -
profit (RMB Ten thousand)
Basic earnings per share (RMB
-0.26 -- -0.24 -0.242 Decrease - -- -
Yuan/share)
1. Reasons: Since the beginning of the second half of 2011, the global electronic
end-consumer market remains weak. Consequently, prices of the Company’s main
LCD panel products also remain at low levels, which may lead to a relatively large
deficit for the year 2011.
Other explanations:
1. On 24 Oct. 2011, the Proposal on a Subsidiary’s Transferring Equities of Ordos
BOE Energy Investment Limited was reviewed and approved by the Company’s
Board of Directors. For details of the proposal, please refer to the announcement
Notes to performance forecast (No. 2011-035) disclosed by the Company on 26 Oct. 2011. Currently, the Company
is trying its best to push forward the said equity transfer. And it is uncertain whether
the equity transfer can be concluded within this year and how it will influence this
year’s gains and losses. Investors are kindly reminded to keep an eye on investment
risks.
2. Due to the deficit in 2010, if the Company continues to go into a deficit for 2011,
a delisting risk warning will be issued on the Company’s stock trading according to
the Stock Listing Rules of the Shenzhen Stock Exchange. Investors are kindly
reminded to keep an eye on investment risks.
3. The Company will disclose in detail specific data about its business performance
5
in 2011 in the 2011 annual report.
3.5 Other significant events that need to be explained
3.5.1 Investments into securities
□Applicable √Inapplicable
3.5.2 Researches, interviews and visits received in the reporting period
Main discussion and
Way of
Time Place Visitor materials provided by
reception
the Company
Daiwa Securities SMBC – Cathay
Conference
Field Co., Ltd. (Taiwan), Daiwa Securities,
1 Jul. 2011 Room of the
researchDaiwa Securities SMBC Co., Ltd.
Company
(Beijing)
The Sumitomo Trust & Banking
Conference Company Limited, Deutsche
Field
5 Jul. 2011 Room of the Securities Inc., Qilu Securities Co.,
research Main discussion:
Company Ltd., Huatai Securities Co., Ltd.,
Huatai Asset Management Co., Ltd. 1. Operation of the
Company and its future
Communicat
Jiangsu Z&H Fund Investment Co., development strategy;
13 Jul. 2011 Phone research ion by
Ltd. 2. Current status and
phone
development trends in
Guodu Securities Co., Ltd., Cinda
the industry;
Securities Co., Ltd., Hongyuan
3. Particulars about the
Securities Co., Ltd., CITIC Securities
Chengdu 4.5G
Co., Ltd., Bohai Securities Co., Ltd.,
Production Line, Beijing
Industrial Securities Co., Ltd., China
5G Production Line,
Conference Securities Co., Ltd., Guotai Junan
Field Hefei 6G Production
14 Jul. 2011 Room of the Securities Co., Ltd., CICC, Founder
research Line and Beijing 8.5G
Company Securities Co., Ltd., Chang Xin Asset
Production Line;
Management Co., Ltd., China Post
Securities Co., Ltd., Huachuang
Materials provided:
Securities Co., Ltd., China Galaxy
The 2010 Annual
Securities Co., Ltd., Shenyin &
Report, the brochure of
Wanguo Securities Co., Ltd.
the Company and other
Communicat
Wuhan Jialun Investment materials available for
29 Aug. 2011 Phone research ion by
Management Co., Ltd. public access
phone
Conference
Field
7 Sept. 2011 Room of the Asian century Quest Capital.LLC
research
Company
Conference
Field
13 Sept. 2011 Room of the TX Investment Consulting Co., Ltd.
research
Company
3.6 Investment on derivative products
□Applicable √Inapplicable
3.6.1 Number of derivative products held at the end of the reporting period
□Applicable √Inapplicable
§4 Appendix
4.1 Balance sheet
Prepared by BOE Technology Group Co., Ltd. 30 Sept. 2011 Unit: RMB Yuan
Balance as at 30 Sept. 2011 Balance as at 31 Dec. 2010
Items
Consolidation The Company Consolidation The Company
Current assets:
Monetary capital 19,684,537,758.00 2,608,457,758.00 23,997,831,673.00 11,570,776,269.00
Settlement funds - - - -
Outgoing call loans - - - -
Transaction financial assets - - 67,794,013.00 -
Notes receivable 468,059,649.00 2,049,851.00 378,937,778.00 1,309,602.00
6
Accounts receivables 2,083,599,248.00 62,241,613.00 1,263,204,267.00 51,608,542.00
Prepayments 102,254,523.00 1,855,254.00 40,275,676.00 7,261,899.00
Premium receivables - - - -
Receivables from reinsures - - - -
Reinsurance contract reserve
- - - -
receivables
Interest receivables 86,537,208.00 14,121,158.00 57,851,997.00 13,899,504.00
Dividend receivables - 8,204,147.00 - 8,204,147.00
Other receivables 149,443,189.00 247,879,349.00 333,128,771.00 521,691,925.00
Financial assets purchased
- - - -
under agreements to resell
Inventories 1,849,196,851.00 1,233,310.00 1,300,479,825.00 1,566,813.00
Non-current assets due within 1
- - - -
year
Other current assets 1,361,432,332.00 25,687,978.00 352,781,119.00 22,389,271.00
Total current assets 25,785,060,758.00 2,971,730,418.00 27,792,285,119.00 12,198,707,972.00
Non-current assets: - - -
Loan and payment on other’s
- - - -
behalf disbursed
Available-for-sale financial
108,291,709.00 108,291,709.00 173,899,899.00 173,899,899.00
assets
Investments held to maturity - - - -
Long-term receivables - - - -
Long-term equity investments 59,381,694.00 25,823,080,070.00 63,164,307.00 16,842,762,737.00
Investment properties 1,370,259,249.00 183,896,440.00 1,407,773,542.00 187,567,077.00
Fixed assets 18,319,247,209.00 382,145,671.00 15,287,867,884.00 377,003,935.00
Construction in progress 17,908,031,218.00 9,155,730.00 8,098,446,109.00 15,050,501.00
Engineering materials - - - -
Disposal of fixed assets - - - -
Production biological assets - - - -
Oil-gas assets - - - -
Intangible assets 1,077,242,433.00 66,976,739.00 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 12,326,220.00 3,831,797.00 13,270,680.00 4,601,663.00
Deferred income tax assets 49,747,912.00 - 51,053,166.00 -
Other non-current assets 210,638,514.00 86,107,531.00 173,769,132.00 58,112,218.00
Total non-current assets 39,171,092,932.00 26,663,485,687.00 26,437,667,650.00 17,717,345,702.00
Total assets 64,956,153,690.00 29,635,216,105.00 54,229,952,769.00 29,916,053,674.00
Current liabilities: - - - -
Short-term borrowings 9,134,478,561.00 52,856,453.00 4,964,412,066.00 74,889,216.00
Borrowings from central bank - - - -
Deposits received and held for
- - - -
others
Call loan received - - - -
Trading financial liabilities - - - -
Notes payable 64,313,453.00 - 37,148,093.00 -
Accounts payable 3,192,772,008.00 6,768,237.00 2,267,112,387.00 5,061,943.00
7
Advances from customers 209,622,885.00 613,038,588.00 82,635,808.00 614,107,270.00
Financial assets sold under
- - - -
agreements to repurchase
Handling charges and
- - - -
commissions payable
Payroll payables 231,978,772.00 35,340,443.00 256,486,006.00 31,770,662.00
Taxes payable 20,338,959.00 4,858,217.00 15,603,988.00 2,223,606.00
Interest payables 90,824,059.00 713,552.00 55,863,170.00 1,324,503.00
Dividend payables 6,451,171.00 6,451,171.00 6,453,111.00 6,453,111.00
Other payables 3,633,372,125.00 244,361,147.00 3,091,332,938.00 387,298,564.00
Accounts due to reinsurance - - - -
Insurance contract reserves - - - -
Trusted trading of securities - - - -
Trusted selling of securities - - - -
Non-current liabilities due
977,732,630.00 200,000,000.00 260,068,100.00 200,000,000.00
within 1 year
Other current liabilities 44,579,490.00 23,407,481.00
Total current liabilities 17,606,464,113.00 1,164,387,808.00 11,060,523,148.00 1,323,128,875.00
Non-current liabilities: - - - -
Long-term borrowings 14,098,653,764.00 7,504,827,507.00
Bonds payable - - - -
Long-term payables - - - -
Special payables - - - -
Estimated liabilities 36,282,611.00 37,049,896.00
Deferred tax liabilities 286,965,139.00 294,904,213.00
Other non-current liabilities 1,030,683,383.00 62,133,901.00 1,072,839,752.00 64,414,064.00
Total non-current liabilities 15,452,584,897.00 62,133,901.00 8,909,621,368.00 64,414,064.00
Total liabilities 33,059,049,010.00 1,226,521,709.00 19,970,144,516.00 1,387,542,939.00
Owners’ equity (or shareholders’
- - - -
equity)
Paid-in capital (or share capital) 13,521,542,341.00 13,521,542,341.00 11,267,951,951.00 11,267,951,951.00
Capital surplus 15,165,155,571.00 14,978,066,668.00 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
General risk provision - - - -
Retained earnings -6,438,261,071.00 -590,007,226.00 -4,295,172,470.00 -535,799,077.00
Foreign exchange difference -3,866,658.00 -1,213,199.00
Total owners’ equity
22,743,662,796.00 28,408,694,396.00 24,955,013,046.00 28,528,510,735.00
attributable to the Company
Minority interest 9,153,441,884.00 9,304,795,207.00
Total owner’s equity 31,897,104,680.00 28,408,694,396.00 34,259,808,253.00 28,528,510,735.00
Total liabilities & owner’s equity 64,956,153,690.00 29,635,216,105.00 54,229,952,769.00 29,916,053,674.00
4.2 Income statement for Jul.-Sept. 2011
Prepared by BOE Technology Group Co., Ltd. Jul.-Sept. 2011 Unit: RMB Yuan
Jul.-Sept. 2011 Jul.-Sept. 2010
Items
Consolidation The Company Consolidation The Company
8
I. Total operation revenue 3,574,602,557.00 48,808,606.00 2,015,634,016.00 52,638,038.00
Including: sales revenue 3,574,602,557.00 48,808,606.00 2,015,634,016.00 52,638,038.00
Interest income - - - -
Premium income - - - -
Handling charges and
- - - -
commission income
II. Total operation cost 4,601,302,728.00 78,477,445.00 2,563,916,109.00 51,281,737.00
Including: cost of sales 3,933,386,632.00 21,241,267.00 2,125,493,876.00 18,876,643.00
Interest expenses - - - -
Handling charges and
- - - -
commission expenses
Insurance discharge
- - - -
payment
Claim expenses-net - - - -
Provision for insurance
- - - -
contract reserve-net
Insurance policy dividends
- - - -
paid
Reinsurance expenses - - - -
Business taxes and
6,616,591.00 2,040,213.00 4,415,026.00 1,855,703.00
surcharges
Sales expenses 103,150,895.00 498,605.00 54,614,550.00 706,082.00
Administrative expenses 363,510,977.00 72,446,197.00 387,236,499.00 45,494,375.00
Financial expenses 124,509,310.00 -17,825,232.00 -16,584,832.00 -15,964,567.00
Impairment loss 70,128,323.00 76,395.00 8,740,990.00 313,501.00
Add: gain/loss from changes in
- - - -
fair value (―-‖ for loss)
Gain/loss from investment
-949,930.00 -949,930.00 -1,340,590.00 -1,300,144.00
(―-‖ for loss)
Including: investment
gain from associates and joint -949,930.00 -949,930.00 -1,340,590.00 -1,300,144.00
ventures
Gain/loss from foreign
exchange difference (―-‖ for - - - -
loss)
III. Operation profit (―-‖ for
-1,027,650,101.00 -30,618,769.00 -549,622,683.00 56,157.00
loss)
Add: non-operating incomes 46,843,668.00 4,744,004.00 24,542,511.00 15,799,860.00
Less: non-operating expenses 3,354,418.00 5,016.00 3,613,030.00
Including: loss from disposal
2,776,416.00 5,016.00 3,456,162.00
of non-current assets
IV. Total profit (―-‖ for total
-984,160,851.00 -25,879,781.00 -528,693,202.00 15,856,017.00
loss)
Less: income tax expenses 982,049.00 1,306,598.00
V. Net profit (―-‖ for total loss) -985,142,900.00 -25,879,781.00 -529,999,800.00 15,856,017.00
Attributable to owners of the
-927,604,124.00 -25,879,781.00 -448,137,532.00 15,856,017.00
Company
Minority interest -57,538,776.00 -81,862,268.00
VI. Earnings per share - - - -
(I) Basic EPS -0.07 -0.002 -0.05 0.002
(II) Diluted EPS -0.07 -0.002 -0.05 0.002
9
Ⅶ. Other composite income -47,274,830.00 -44,307,246.00 13,060,326.00 12,713,874.00
Ⅷ. Total composite income -1,032,417,730.00 -70,187,027.00 -516,939,474.00 28,569,891.00
Attributable to owners of the
-974,878,954.00 -70,187,027.00 -435,077,206.00 28,569,891.00
Company
Attributable to minority
-57,538,776.00 -81,862,268.00
shareholders
Where there were business combinations under the same control in this reporting
period, the combined parties achieved net profit of RMB 0.00 before the
combinations.
4.3 Income statement for Jan.-Sept. 2011
Prepared by BOE Technology Group Co., Ltd. Jan.-Sept. 2011 Unit: RMB Yuan
Jan.-Sept. 2011 Jan.-Sept. 2010
Items
Consolidation The Company Consolidation The Company
I. Total operation revenue 8,514,636,554.00 140,666,309.00 6,202,063,899.00 155,348,854.00
Including: sales revenue 8,514,636,554.00 140,666,309.00 6,202,063,899.00 155,348,854.00
Interest income - - - -
Premium income - - - -
Handing charges and
- - - -
commission income
II. Total operation cost 10,928,202,542.00 213,796,321.00 7,383,372,275.00 154,742,199.00
Including: cost of sales 9,278,104,413.00 59,941,350.00 6,250,732,367.00 55,960,526.00
Interest expenses - - - -
Handling charges and
- - - -
commission expenses
Insurance discharge payment - - - -
Claim expenses-net - - - -
Provision for insurance
- - - -
contract reserve-net
Insurance policy dividends
- - - -
paid
Reinsurance expenses - - - -
Business taxes and
17,587,636.00 4,288,149.00 13,582,943.00 5,948,748.00
surcharges
Sales expenses 272,911,852.00 542,726.00 151,517,241.00 1,068,182.00
Administrative expenses 1,181,463,915.00 217,742,451.00 917,230,556.00 129,415,394.00
Financial expenses 49,227,494.00 -68,948,445.00 15,039,747.00 -38,313,394.00
Asset impairment loss 128,907,232.00 230,090.00 35,269,421.00 662,743.00
Add: gain/loss from changes in
-8,670,137.00
fair value (―-‖ for loss)
Gain/loss from investment
-352,581.00 -252,634.00 4,169,923.00 -3,306,213.00
(―-‖ for loss)
Including: investment
gain from associates and joint -3,782,614.00 -3,682,668.00 2,011,566.00 -4,699,016.00
ventures
Gain/loss from foreign
- - - -
exchange difference (―-‖ for loss)
III. Operation profit (―-‖ for loss) -2,422,588,706.00 -73,382,646.00 -1,177,138,453.00 -2,699,558.00
Add: non-operating incomes 120,083,345.00 19,360,069.00 55,247,602.00 23,305,898.00
Less: non-operating expenses 10,903,506.00 185,572.00 9,496,871.00 3,062,914.00
10
Including: loss from disposal
9,683,737.00 185,572.00 8,023,304.00 2,062,914.00
of non-current assets
IV. Total profit (―-‖ for total loss) -2,313,408,867.00 -54,208,149.00 -1,131,387,722.00 17,543,426.00
Less: income tax expenses -1,727,651.00 16,291,254.00 14,159,922.00
V. Net profit (―-‖ for total loss) -2,311,681,216.00 -54,208,149.00 -1,147,678,976.00 3,383,504.00
Attributable to owners of the
-2,143,088,601.00 -54,208,149.00 -988,843,759.00 3,383,504.00
Company
Minority interest -168,592,615.00 -158,835,217.00
VI. Earnings per share - - - -
(I) Basic EPS -0.16 -0.00 -0.12 0.00
(II) Diluted EPS -0.16 -0.00 -0.12 0.00
Ⅶ. Other composite income -68,261,649.00 -65,608,190.00 -22,692,892.00 -16,449,876.00
Ⅷ. Total composite income -2,379,942,865.00 -119,816,339.00 -1,170,371,868.00 -13,066,372.00
Attributable to owners of the
-2,211,350,250.00 -119,816,339.00 -1,011,536,651.00 -13,066,372.00
Company
Attributable to minority
-168,592,615.00 -158,835,217.00
shareholders
Where there were business combinations under the same control from the year-begin
to the period-end, the combined parties achieved net profit of RMB 0.00 before the
combinations.
4.4 Cash flow statement for Jan.-Sept. 2011
Prepared by BOE Technology Group Co., Ltd. Jan.-Sept. 2011 Unit: RMB Yuan
Jan.-Sept. 2011 Jan.-Sept. 2010
Items
Consolidation The Company Consolidation The Company
I. Cash flows from operating
activities
Cash received from sales of
6,946,995,699.00 65,712,685.00 5,993,924,770.00 69,007,889.00
goods or rendering of services
Net increase of deposits
received from and held for
customers
Net increase of borrowings
from central bank
Net increase of inter-bank
loans from other financial
institutions
Cash received against
original insurance contract
Net Cash received from
reinsurance
Net increase of client
deposits and investments
Net increase in disposal of
transaction financial assets
Interests, handling charges
and commission received
Net increase of call loan
Net increase of cash received
under repurchasing
Tax and fare refunded 248,672,878.00 141,215.00 24,789,262.00
Other cash received from 757,652,972.00 209,700,808.00 642,508,946.00 879,080,304.00
11
operating activities
Sub-total of cash inflow
7,953,321,549.00 275,554,708.00 6,661,222,978.00 948,088,193.00
from operating activities
Cash paid for goods and
6,799,800,994.00 93,870,069.00 5,515,658,167.00 35,086,032.00
services
Net increase of loans and
advances from customers
Net increase of deposits in
central bank, banks and other
financial institutions
Cash paid for original
contract claim
Cash paid for interests,
handling charges and
commissions
Cash paid for policy
dividends
Cash paid to and for
1,013,484,045.00 107,402,356.00 583,366,091.00 51,169,473.00
employees
Taxes and fares paid 144,311,438.00 27,910,843.00 147,901,071.00 72,579,537.00
Other cash paid relating to
1,041,631,378.00 278,783,689.00 669,723,275.00 300,564,529.00
operating activities
Sub-total of cash outflows
8,999,227,855.00 507,966,957.00 6,916,648,604.00 459,399,571.00
from operating activities
Net cash flow from
-1,045,906,306.00 -232,412,249.00 -255,425,626.00 488,688,622.00
operating activities
II. Cash Flows from investing
activities
Cash received from
37,066,443.00
investment retractions
Cash received from
3,430,033.00 3,430,033.00 2,838,604.00 2,838,801.00
investment income
Net cash received from
disposal of fixed assets, intangible 1,089,108.00 972,287.00 12,006,264.00
assets and other long-term assets
Net cash received from
disposal of subsidiaries and other
operating units
Other cash received relating
1,456,606,939.00 355,128,317.00 309,295,740.00 52,352,975.00
to investing activities
Sub-total of cash inflows
1,461,126,080.00 359,530,637.00 324,140,608.00 92,258,219.00
of investing activities
Cash paid for acquiring fixed
assets, intangible assets and other 15,760,161,627.00 54,591,899.00 10,006,820,707.00 195,170,323.00
long-term assets
Cash paid for acquiring
24,446,914.00 8,983,446,914.00 28,195,991.00 367,695,991.00
investments
Net increase of pledge loans
Net cash paid for acquisition
of subsidiaries and other operating 15,306,439.00 20,000,000.00 253,900,000.00
units
Other cash paid relating to
2,986,245,887.00 4,728,361,663.00 356,219,660.00
investing activities
Sub-total of cash outflows
18,786,160,867.00 9,058,038,813.00 15,017,278,361.00 919,085,974.00
of investing activities
Net cash flow from
-17,325,034,787.00 -8,698,508,176.00 -14,693,137,753.00 -826,827,755.00
investing activities
12
III. Cash Flows from financing
activities:
Cash received from
5,500,000,000.00
absorbing investments
Including: Cash received
from minority shareholders of
subsidiaries
Cash received from
19,641,916,106.00 30,338,847.00 8,641,057,787.00 48,536,987.00
borrowings
Cash received from bonds
issuing
Other cash received relating
85,367,637.00 14,948,000.00 121,180,306.00
to financing activities
Sub-total of cash inflows
19,727,283,743.00 45,286,847.00 14,262,238,093.00 48,536,987.00
of financing activities
Cash paid for settling debts 8,167,198,497.00 52,032,252.00 3,180,806,064.00 978,970.00
Cash paid for distribution of
dividends or profits or 415,904,247.00 1,471,096.00 166,458,114.00 2,016,748.00
reimbursing interest
Including: dividends or
profits paid to minority
shareholders by subsidiaries
Other cash paid relating to
2,124,277,148.00 7,476,924.00 13,749,942.00 40,842.00
financing activities
Sub-total of cash outflows
10,707,379,892.00 60,980,272.00 3,361,014,120.00 3,036,560.00
of financing activities
Net cash flows of
9,019,903,851.00 -15,693,425.00 10,901,223,973.00 45,500,427.00
financing activities
IV. Effect of foreign exchange
-43,168,022.00 -756,662.00 -13,514,370.00 -240,902.00
rate on cash and cash equivalents
V. Net decrease in cash and cash
-9,394,205,264.00 -8,947,370,512.00 -4,060,853,776.00 -292,879,608.00
equivalents
Add : Opening amount of
19,097,948,638.00 11,478,796,269.00 15,230,490,504.00 2,789,984,272.00
cash and cash equivalents
VI. Closing balance of cash and
9,703,743,374.00 2,531,425,757.00 11,169,636,728.00 2,497,104,664.00
cash equivalents
4.5 Auditor’s report
Audit opinion: Unaudited
13
