Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
SEMI-ANNUAL REPORT 2012
Important Notes
The Board of Directors, the Supervisory Committee, directors, supervisors and senior
executives of BOE Technology Group Co., Ltd. (hereinafter referred to as ―the Company‖)
hereby assure that there are no false records, misleading statements or significant omissions
in this report, and shall shoulder any individual and/or joint liability concerning the
authenticity, accuracy and completeness of the contents of this report.
All directors attended the board session for reviewing this report. The financial report for the
first half of 2012 has not been audited by a CPA firm.
Chairman of the Board & Company Principal Mr. Wang Dongsheng, CEO Mr. Chen
Yanshun, Head of the Accounting Work Ms. Sun Yun, and Person-in-charge of the
Accounting Division (Head of Accounting) Ms.Yang Xiaoping hereby declare that the
Financial Report enclosed in this report is factual and complete.
English Translation for Reference Only. Should there be any discrepancy between the two
versions, the Chinese version shall prevail.
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
I. Company Profile
（I）Basic information
A-share code 000725 B-share code 200725
A-share abbreviation JDFA B-share abbreviation JDFB
Stock exchange listed with Shenzhen Stock Exchange
Legal Chinese name of the
京东方科技集团股份有限公司
Company
Abbr. of the legal Chinese
京东方
name of the Company
Legal English name of the
BOE TECHNOLOGY GROUP CO., LTD.
Company
Abbr. of the legal English
BOE
name of the Company
Legal representative of the
Wang Dongsheng
Company
Registered address No.10, Jiuxianqiao Road, Chaoyang District, Beijing
Postal code for the registered
100015
address
Office address No.10, Jiuxianqiao Road, Chaoyang District, Beijing
Postal code for the office
100015
address
Internet website of the
http://www.boe.com.cn
Company
Email address web.master@boe.com.cn
（II）For contact
Company Secretary Securities Affairs Representative
Name Feng Liqiong Liu Hongfeng
No.10, Jiuxianqiao Road, Chaoyang No.10, Jiuxianqiao Road, Chaoyang
Contact address
District, Beijing District, Beijing
Tel. 010－64318888 ext. 010－64318888 ext.
Fax 010－64366264 010－64366264
E-mail fengliqiong@boe.com.cn liuhongfeng@boe.com.cn
（III）About information disclosure and where the semi-annual report is placed
Newspapers designated by the Company for Securities Times, China Securities Journal, Shanghai Securities News, Ta Kung Pao
information disclosure (HK)
Internet website designated by CSRC for
http://www.cninfo.com.cn
disclosing the semi-annual report
Where the semi-annual report is placed Secretariat to the Board of Directors of the Company
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
II. Financial and Business Highlights
（I）Major accounting data and financial indexes
Any retrospective adjustment in previous financial statements?
□ Yes √ No □ Inapplicable
Major accounting data
Major accounting data Reporting period (Jan.-Jun.) Same period of last year Increase/decrease (%)
Gross operating revenues (RMB Yuan) 9,608,882,013.00 4,940,033,997.00 94.51%
Operating profit (RMB Yuan) -1,226,439,189.00 -1,394,938,605.00 12.08%
Total profit (RMB Yuan) -1,068,853,171.00 -1,329,248,016.00 19.59%
Net profit attributable to shareholders of
-786,882,196.00 -1,215,484,477.00 35.26%
the Company (RMB Yuan)
Net profit attributable to shareholders of
the Company after deducting non-recurring -907,917,180.00 -1,272,107,385.00 28.63%
gains and losses (RMB Yuan)
Net cash flow from operating activities
121,827,560.00 -614,189,947.00 119.84%
(RMB Yuan)
As at the end of this
As at the end of last year Increase/decrease (%)
reporting period
Total assets (RMB Yuan) 67,316,247,128.00 68,769,415,646.00 -2.11%
Owners’ equity attributable to shareholders
24,813,084,260.00 25,585,892,264.00 -3.02%
of the Company (RMB Yuan)
Share capital (share) 13,521,542,341.00 13,521,542,341.00 0%
Major financial indexes
Major financial indexes Reporting period (Jan.-Jun.) Same period of last year Increase/decrease (%)
Basic EPS (RMB Yuan/share) -0.058 -0.09 35.56%
Diluted EPS (RMB Yuan/share) -0.058 -0.09 35.56%
Basic EPS after deducting non-recurring
-0.067 -0.09 25.56%
gains and losses (RMB Yuan/share)
Fully diluted ROE（%） -3.17% -4.75% 1.58%
Weighted average ROE（%） -3.12% -4.99% 1.87%
Fully diluted ROE after deducting
-3.66% -4.97% 1.31%
non-recurring gains and losses（%）
Weighted average ROE after deducting
-3.6% -5.23% 1.63%
non-recurring gains and losses（%）
Net cash flow per share from operating
0.01 -0.05 120%
activities (RMB Yuan/share)
As at the end of this
As at the end of last year Increase/decrease (%)
reporting period
Net assets per share attributable to
shareholders of the Company (RMB 1.84 1.89 -2.65%
Yuan/share)
Liability/asset ratio（%） 49.52% 49.04% 0.48%
（II）Accounting data differences under the domestic and overseas accounting standards
1. Net profit and net asset differences between financial reports disclosed according to the international and
Chinese accounting standards respectively
□ Applicable √ Inapplicable
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
2. Net profit and net asset differences between financial reports disclosed according to the overseas and
Chinese accounting standards respectively
□ Applicable √ Inapplicable
3. Specific items involving significant difference
□ Applicable √ Inapplicable
4. Notes to accounting data differences under the domestic and overseas accounting standards
Naught
（III）Items of non-recurring gains and losses
√Applicable □Inapplicable
Items Amount (RMB Yuan) Notes
Gains and losses on disposal of non-current assets -376,902.00 -
Government grants recognized in the current year, except
for those acquired in the ordinary course of business or
149,746,711.00 -
granted at certain quotas or amounts according to the
country’s unified standards
Other non-operating incomes and expenses besides the
8,171,430.00 -
items above
Income tax effects -242,447.00 -
Total 157,298,792.00 --
III. Changes in Share Capital and Particulars about Shareholders
（I）Changes in share capital
1. Statement of changes of shares
√Applicable □Inapplicable
Before the change Increase/decrease (+, -) After the change
Proportion Proportion
Number Others Subtotal Number
(%) (%)
I. Shares subject to trading
2,094,137,906 15.49% -1,499,916,825 -1,499,916,825 594,221,081 4.39%
moratorium
1. State-owned shares 0 0% 0 0 0 0%
2. State-owned legal
2,094,059,405 15.49% -1,500,000,000 -1,500,000,000 594,059,405 4.39%
person shares
3. Other domestic shares 0 0% 0 0 0 0%
Including: Shares held by
domestic non-state-owned 0 0% 0 0 0 0%
legal persons
Shares held by
0 0% 0 0 0 0%
domestic individuals
4. Shares held by overseas
0 0% 0 0 0 0%
shareholders
Including: Shares held
by overseas legal 0 0% 0 0 0 0%
persons
Shares held by
0 0% 0 0 0 0%
overseas individuals
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
5. Shares held by senior
78,501 0% 83,175 83,175 161,676 0%
management staff
II. Shares not subject to
11,427,404,435 84.51% 1,499,916,825 1,499,916,825 12,927,321,260 95.61%
trading moratorium
1. Ordinary shares
10,088,744,435 74.61% 1,499,916,825 1,499,916,825 11,588,661,260 85.71%
denominated in RMB
2. Domestically listed
1,338,660,000 9.9% 0 0 1,338,660,000 9.9%
foreign shares
3. Overseas listed foreign
0 0% 0 0 0 0%
shares
4. Others 0 0% 0 0 0 0%
III. Total shares 13,521,542,341.00 100% 0 0 13,521,542,341.00 100%
2. Changes of shares subject to trading moratorium
√ Applicable □ Inapplicable
Reason for
Name of Shares at the Shares released in Shares increased Shares at the
trading Date of release
shareholder year-begin current year in current year year-end
moratorium
HEFEI
XINCHENG
STATE-OWNED Private
750,000,000 750,000,000 0 0 19 Jun. 2012
ASSETS offering
MANAGEMENT
CO., LTD
HEFEI LAN KE
Private
INVESTMENT 750,000,000 750,000,000 0 0 19 Jun. 2012
offering
CO., LTD.
Total 1,500,000,000 1,500,000,000 0 0 -- --
（II）Issuance and listing of securities
1. Securities issues in the previous three years
√ Applicable □ Inapplicable
Names of the
stock and its Issue price (RMB Number approved Date for trading
Date of issue Issue number Date for listing
derivative Yuan/share) for listing expiration
securities
Stocks:
Private A-share
1 Jun. 2009 2.4 5,000,000,000 10 Jun. 2009 5,000,000,000
offering
Private A-share
1 Dec. 2010 3.03 2,985,049,504 13 Dec. 2012 2,985,049,504
offering
Convertible corporate bonds, warrant bonds, corporate bonds
Naught
Warrants
Naught
2. Changes of the Company’s share number and structure, as well as the corresponding changes in its
asset-liability structure
□Applicable √Inapplicable
3. Existing employee shares
□Applicable √Inapplicable
（III）Shareholders and actual controller
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
1. Total number of shareholders at the end of the reporting period
The Company had 447,700 shareholders in total at the end of the reporting period.
2. Shareholding of the top ten shareholders
Particulars about shares held by the top ten shareholders
Number of Pledged or frozen shares
shares held
Name of shareholder (full Nature of Shareholding Total shares held
subject to Number of
name) shareholder percentage (%) at the period-end Status of shares
trading shares
moratorium
BEIJING E-TOWN
INTERNATIONAL
State-owned Pledged or
INVESTMENT & 11.35% 1,534,059,406 594,059,405 647,029,502
Corporation frozen
DEVELOPMENT CO.,
LTD
BEIJING BOE State-owned
INVESTMENT & Corporation
6.37% 860,981,080 - - -
DEVELOPMENT CO.,
LTD.
BEIJING
ECONOMIC-TECHNOLO State-owned Pledged or
6.27% 847,650,000 - 350,000,000
GICAL INVESTMENT & Corporation frozen
DEVELOPMENT CORP.
HEFEI RONGKE
State-owned
PROJECT INVESTMENT 5.86% 792,000,000 - - -
Corporation
CO., LTD.
HEFEI LAN KE State-owned
5.55% 750,000,000 - - -
INVESTMENT CO., LTD. Corporation
HEFEI XINCHENG
State-owned
STATE-OWNED ASSETS 5.55% 750,000,000 - - -
Corporation
MANAGEMENT CO., LTD
BEIJING BDA
TECHNOLOGICAL
State-owned
INVESTMENT 4.44% 600,000,000 - - -
Corporation
DEVELOPMENT CO.,
LTD.
BEIJING INDUSTRY
DEVELOPMENT &
On behalf of
INVESTMENT 3.27% 442,016,711 - - -
the country
MANAGEMENT CO.,
LTD.
CHINA CONSTRUCTION
Domestic
BANK—YINHUA CORE
non-state-owne 2.24% 303,019,637 - - -
VALUE SELECTED
d corporation
STOCK FUND
BEIJING ELECTRONICS On behalf of Pledged or
2.04% 275,303,883 - 168,418,605
HOLDING CO., LTD the country frozen
On 23 Jul. 2012, BEIJING E-TOWN INTERNATIONAL INVESTMENT &
DEVELOPMENT CO., LTD. released some tradable shares of the Company held by
Notes to particulars about shareholders it from pledge, For details, see the Announcement on Some Equity Interests of the
Company Held by Shareholder Being Released from Pledge (Announcement No.
2012-021) disclosed by the Company on 24 Jul. 2012.
Particulars about shares held by the top ten shareholders holding shares not subject to trading moratorium
√Applicable □Inapplicable
Number of shares held Type and number of shares
not subject to trading
Name of shareholder
moratorium at the Type Number
period-end
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
BEIJING E-TOWN INTERNATIONAL
940,000,001 A-share 940,000,001
INVESTMENT & DEVELOPMENT CO., LTD
BEIJING BOE INVESTMENT &
860,981,080 A-share 860,981,080
DEVELOPMENT CO., LTD.
BEIJING ECONOMIC-TECHNOLOGICAL
847,650,000 A-share 847,650,000
INVESTMENT & DEVELOPMENT CORP.
HEFEI RONGKE PROJECT INVESTMENT
792,000,000 A-share 792,000,000
CO., LTD.
HEFEI LAN KE INVESTMENT CO., LTD. 750,000,000 A-share 750,000,000
HEFEI XINCHENG STATE-OWNED ASSETS
750,000,000 A-share 750,000,000
MANAGEMENT CO., LTD
BEIJING BDA TECHNOLOGICAL
600,000,000 A-share 600,000,000
INVESTMENT DEVELOPMENT CO., LTD.
BEIJING INDUSTRY DEVELOPMENT &
442,016,711 A-share 442,016,711
INVESTMENT MANAGEMENT CO., LTD.
CHINA CONSTRUCTION BANK—YINHUA
303,019,637 A-share 303,019,637
CORE VALUE SELECTED STOCK FUND
BEIJING ELECTRONICS HOLDING CO., LTD 275,303,883 A-share 275,303,883
Explanation on associated relationship among the top ten shareholders or/and acting-in-concert
1. Beijing Electronics Holdings Co., Ltd. holds 66.25% shares of Beijing BOE Investment & Development Co., Ltd. and is its
controlling shareholder.
2. When the Company completed private offering of shares in 2010, Beijing E-TOWN International Investment & Development Co.,
Ltd. transferred all shares directly held to Beijing BOE Investment & Development Co., Ltd. for management, then BOE Investment
acquired the attached rights of the shares attributable to other shareholders in accordance with current effective laws and rules of the
Company excluding right of disposition such as transfer, donation, mortgage etc. and usufruct (including claim for profit distribution
and claim for retained assets distribution).
3. BEIJING ECONOMIC-TECHNOLOGICAL INVESTMENT & DEVELOPMENT CORP. holds 49% shares of BEIJING BDA
TECHNOLOGICAL INVESTMENT DEVELOPMENT CO., LTD.. Both of them are under the control of the Administration
Committee of Beijing Economic and Technological Development Zone, which makes them parties acting in concert.
4. Except for relationship among the above shareholders, the Company is not aware of whether there is any associated relationship or
not among top ten shareholders holding shares not subject to trading moratorium.
3. Controlling shareholder and actual controller
（1）Change of the controlling shareholder and actual controller
□Applicable √Inapplicable
（2）Particulars about the controlling shareholder and actual controller
Is there a new actual controller?
□ Yes √ No □ Inapplicable
Name of the actual controller BEIJING ELECTRONICS HOLDING CO., LTD
Type of the actual controller Local SASAC
Particulars:
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
（1）Controlling shareholder
Beijing BOE Investment & Development Co., Ltd. holds 6.37% of the total shares of the Company and is the controlling shareholder
of the Company with an actual voting right of 17.71% of the total share capital of the Company. Its general information is as follows:
Name: Beijing BOE Investment & Development Co., Ltd.
Legal Representative: Wang Dongsheng
Date of Foundation: 21 Apr. 2005
Address: No. 10 Jiuxianqiao Road, Chaoyang District, Beijing
Registered Capital: RMB 680.982 million
Type of the company: other limited liability corporation
Business scope: routine operating projects: R&D and production of electronic products, electronic raw materials and components; the
relevant technical development, technical consultation, technical service and transfer; sales of self-produced products.
(2) About the actual controller
Beijing Electronics Holdings Co., Ltd. holds 66.25% of the shares of Beijing BOE Investment & Development Co., Ltd. and 2.04%
of the shares of the Company directly. Therefore, it is the actual controller of the Company.
Beijing Electronics Holdings Co., Ltd. belongs to Beijing Municipal state-owned holding company, as well as a Beijing municipal
state-owned assets authorized operation unit. Its general information is as follows:
Name of the enterprise: Beijing Electronics Holding Co., Ltd.
Legal Representative: Wang Yan
Date of Foundation: 8 Apr. 1997
Location: No.12 Jiuxianqiao Road, Chaoyang District, Beijing
Registered Capital: RMB 1.30737 million
Type: Limited Company (State-owned sole corporations)
Business scope: operation and management of state-owned assets within authorization; communications equipments, audio & visual
products for broadcasting and television; computer and its supporting equipments and the applied products; electronic raw material
and components; home electric appliances and electronic products; electronic surveying instruments and meters; mechanical and
electric equipments; electronic transportation products and investment in business fields other than electronics and its management;
development of real estate, lease and sales of commodity apartments; property management.
(3) The property right and controlling relationship between the actual controller and the Company are as
follows:
State-owned Assets Supervision & Wang Dongsheng 20%, Jiang Yukun 10%, Liang Xinqing
Administration Commission of 10%, Zhao Caiyong 6.667%, Shi Dong 6.667%, Chen
Beijing People’s Government Yanshun 6.667%, Song Ying 6.667%, Han Guojian 6.667%,
Gong Xiaoqing 3.333%, Wang Yanjun 3.333%, Wang
100% Jiaheng 3.333%, Liu Xiaodong 3.333%, Ren Jianchang
1.667%, Sun Jiping 1.667%, Zhang Peng 1.667%, Wang
Beijing State-owned Capital Ai’zhen 1.667%, Mu Chengyuan 1.667%, Xu Yan 1.667%,
Management Administrative Center Hua Yulun 1.667%, Zhong Huifeng 1.667%
100% 100%
Beijing Intelligent Kechuang Technology
Beijing Electronics Holdings Co.,
Development Co., Ltd.
Ltd.
66.25% 33.75%
Beijing BOE Investment & Development Co., Ltd.
6.37%
2.04%
BOE Technology Group Co., Ltd.
Note: 1. The Company regards Beijing Intelligent Kechuang Technology Development Co., Ltd. as a platform to
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
implement equity incentive for the whole core technology manager, the aforesaid 20 subscribers are nominal
shareholders, each investment proportion is not actual equity proportion, the equities of Beijing Intelligent
Kechuang Technology Development Co., Ltd. are held in common by all implemented objectives of simulate plan
of equity incentive mechanism.
2. When the Company completed private offering of shares in 2010, Beijing E-TOWN International Investment &
Development Co., Ltd. transferred all shares directly held to Beijing BOE Investment & Development Co., Ltd.
(hereinafter refer to as ―BOE Investment‖) for management, then BOE Investment acquired the attached rights of
the shares attributable to other shareholders in accordance with current effective laws and rules of the Company,
excluding right of disposition such as transfer, donation, mortgage etc. and usufruct (including claim for profit
distribution and claim for retained assets distribution). As to the end of reporting period, BOE Investment held
2,395,040,486 shares with attributable voting right, which accounted for 17.71% of total share capital.
（4）The actual controller controls the Company via trust or other ways of asset management.
□Applicable √Inapplicable
4. Other corporate shareholders with a shareholding over 10%
√Applicable □Inapplicable
Registere
Legal Main operating business or d capital
Name of corporate shareholder Incorporated date Currency
representative management activities (RMB ’00
00)
BEIJING E-TOWN
Investment management,
INTERNATIONAL INVESTMENT Bai Wen 6 Feb. 2009 439,000 RMB
investment consulting service
& DEVELOPMENT CO., LTD
BEIJING E-TOWN INTERNATIONAL INVESTMENT & DEVELOPMENT CO., LTD.
Notes
holds 11.35% shares of the Company.
（IV）Convertible corporate bonds
□Applicable √Inapplicable
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
IV. Directors, Supervisors and Senior Management
（I）Shareholding changes of directors, supervisors and senior management
Shareholding Shareholding Receives
Share
Shareholdi increase decrease Shareholding Including: payment
options held
Beginning date of Ending date of ng at the during this during this at the restricted Reasons for from
Name Position Gender Age at the
office term office term period-begi reporting reporting period-end shares held change shareholder
period-end
n (share) period period (share) (share) units or other
(share)
(share) (share) related units?
Chairman of the
Wang
Board, Chief of
Dongshen Male 55 21 May 2010 20 May 2013 29,905 0 0 29,905 22,429 0 - No
the Execution
g
Committee
Yuan
Vice chairman Male 57 21 May 2010 20 May 2013 0 0 0 0 0 0 - Yes
Hanyuan
Liang
Vice chairman Male 60 21 May 2010 20 May 2013 11,963 0 0 11,963 8,972 0 - Yes
Xinqing
Chen Executing
Male 46 21 May 2010 20 May 2013 0 0 0 0 0 0 - No
Yanshun director, president
Executing
Han
director, executing Male 59 21 May 2010 20 May 2013 11,962 110,900 0 122,862 92,147 0 - No
Guojian
vice president
Wang Executing
Male 43 21 May 2010 20 May 2013 0 0 0 0 0 0 - No
Jiaheng director, executing
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
vice president
Gui
Director Female 39 21 May 2010 20 May 2013 0 0 0 0 0 0 - Yes
Jinghua
Dong Independent
Male 61 21 May 2010 20 May 2013 0 0 0 0 0 0 - No
Ansheng director
Ouyang Independent
Male 66 21 May 2010 20 May 2013 0 0 0 0 0 0 - No
Zhongcan director
Geng Independent
Male 58 21 May 2010 20 May 2013 0 0 0 0 0 0 - No
Jianxin director
Ji Independent
Male 65 21 May 2010 20 May 2013 0 0 0 0 0 0 - No
Guoping director
Convener of the
Wu
Supervisory Male 46 21 May 2010 20 May 2013 0 0 0 0 0 0 - Yes
Wenxue
Committee
Zhang
Supervisor Male 40 21 May 2010 20 May 2013 0 0 0 0 0 0 - Yes
Jinsong
Mu
Chengyua Supervisor Male 45 21 May 2010 20 May 2013 2,991 0 0 2,991 2,243 0 - Yes
n
Zhong Staff-representativ
Male 42 21 May 2010 20 May 2013 0 0 0 0 0 0 - No
Huifeng e supervisor
Staff-representativ
Yang Anle Male 42 21 May 2010 20 May 2013 0 0 0 0 0 0 - No
e supervisor
Liu Executing vice
Male 48 21 May 2010 20 May 2013 0 0 0 0 0 0 - No
Xiaodong president, COO
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Executing vice
Song Ying Female 55 21 May 2010 20 May 2013 29,905 0 0 29,905 22,429 0 - No
president
Wang Executing vice
Male 43 21 May 2010 20 May 2013 11,962 0 0 11,962 8,972 0 - No
Yanjun president
Senior vice
Sun Yun Female 43 21 May 2010 20 May 2013 5,981 0 0 5,981 4,486 0 - No
president, CFO
Dong Senior vice
Female 49 21 May 2010 20 May 2013 0 0 0 0 0 0 - No
Youmei president, CTO
Senior vice
Feng president, chief
Female 40 21 May 2010 20 May 2013 0 0 0 0 0 0 - No
Liqiong counsel, Secretary
of the Board
Yue Senior vice
Male 45 21 May 2010 20 May 2013 0 0 0 0 0 0 - No
Zhanqiu president
Li Senior vice
Male 43 21 May 2010 20 May 2013 0 0 0 0 0 0 - No
Xuezheng president
Vice president,
Xie
chief risk control
Zhongdon Male 43 22 Apr. 2011 20 May 2013 0 0 0 0 0 0 - No
officer, chief
g
auditor
Total -- -- -- -- -- 104,669 110,900 0 215,569 161,677 0 -- --
Equity incentives granted to directors, supervisors and senior management during the reporting period
□Applicable √Inapplicable
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
（II）Post-holding particulars
Post-holding in shareholders units
√Applicable □Inapplicable
Name of the
person holding Ending date Receives payment
Position in the Beginning date of
any post in any Name of the shareholder unit of office from the shareholder
shareholder unit office term
shareholder term unit?
unit
BEIJING ELECTRONICS
Vice President 1 Dec. 2008 -
HOLDING CO., LTD
Yuan Hanyuan Yes
BEIJING BOE INVESTMENT &
Vice Chairman 1 Feb. 2009 -
DEVELOPMENT CO., LTD.
BEIJING BOE INVESTMENT &
Liang Xinqing Director, President 1 Jun. 2005 - Yes
DEVELOPMENT CO., LTD.
BEIJING ELECTRONICS
Wu Wenxue Vice President 1 Mar. 2006 - Yes
HOLDING CO., LTD
BEIJING ELECTRONICS
Vice President 1 Aug. 2011 -
HOLDING CO., LTD
Zhang Jinsong Yes
BEIJING BOE INVESTMENT &
Director 1 Dec. 2009 -
DEVELOPMENT CO., LTD.
BEIJING ELECTRONICS Securities
1 Jun. 2006 -
HOLDING CO., LTD Investment Manager
Mu Chengyuan Yes
BEIJING BOE INVESTMENT &
Director, President 1 Dec. 2000 -
DEVELOPMENT CO., LTD.
Notes to
post-holding in
The staff above are on job, so the ending dates of their office terms are uncertain.
shareholder
units
Post-holding in other units
√Applicable □Inapplicable
Name of the
Beginni Ending
person holding Receives
Position in other ng date date of
Name of other unit payment from
any post in unit of office office
other unit?
term term
other units
Social Undertakings Development Department of
Gui Jinghua GM - - Yes
Beijing State-owned Assets Management Co., Ltd.
Dong Ansheng Faculty of Law of People’s University of China PhD supervisor - - Yes
Chief of the
Ouyang Theoretical Physics Institute for Chinese Academy of
Academic - - Yes
Zhongcan Sciences
Committee
Geng Jianxin Faculty of Business of People’s University of China PhD supervisor - - Yes
Notes to The staff above are external directors or independent directors, so the beginning and ending dates for their office
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
post-holding in terms cannot be certain.
other units
（III）Remuneration for directors, supervisors and senior management
Decision-making
procedure for the The allowances for the Company’s directors and supervisors were reviewed and approved at the 2007
remuneration of directors, Annual Shareholders’ General Meeting on 24 Apr. 2008. And the remuneration for senior executives
supervisors and senior was reviewed and approved at the 20th Session of the 6th Board of Directors on 25 Apr. 2012.
management
Basis for determining the
The Proposal on the Principles for Determining Allowance Standards for Directors and Supervisors and
remuneration of directors,
Remuneration for Senior Executives was reviewed and approved at the 2005 Annual Shareholders’
supervisors and senior
General Meeting on 29 May 2006.
management
Actual payment of the
remuneration of directors, For the reporting period, the total remuneration for directors, supervisors and senior executives given by
supervisors and senior the Company was RMB 6.0152 million (before tax).
management
（IV）Change of directors, supervisors and senior management
Name Position Way of change Date of change Reason for change
Naught - - - -
（V）Employees
Number of on-job employees 18,050
Number of retired employees for whom the Company shall bear
613
expenses
Function structure
Type of function Number of personnel
Production 9,083
Sale 430
Technical 6,608
Financial 310
Administration 1,619
Level of education
Level of education Number of personnel
Doctors 115
Masters 1,536
Bachelors 4,007
Junior college graduates 3,912
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
High school graduates and below 8,480
Notes to the employee particulars:
High school graduates and below included 4,945 technical secondary school graduates, 889 senior vocational school graduates and
2,646 others.
V Report of the Board of Directors
(I) Management discussion and analysis
1. Operation review of the Company in the reporting period
In Jan to Jun 2012, the global economy bottomed again and again, the consumer market is complex
and changeable, and the demand grew slowly. After two-year experience of depression and
adjustment, the industry is gradually becoming stable, and the industry of domestic crystal display
is gradually showing its advantages, for example, it market position in global competition. In the
first half year, the price of large-size LCD panel stopped falling at the year-begin, and the price of
small-size panel fell sharply.
Facing the industry trend, market trend, as well as global economy trend adjusted in a new round,
the Company firmly implemented the annual operation policy of ―deepening customer orientation,
intensifying SOPIC innovation and transformation, tamping the foundation, executing fine
management to ensuring annual profits‖, stably promote the strategy of ―full sales encourages full
production‖, and gained fine operating results in the first half year. The Company achieved
operating revenue of about RMB 9.6 billion, representing a Y on Y increase of 95% in the first half
year. The operating cash flow turned positive. The Beijing 5th-Generation Line operated with great
improvement, Chengdu 4.5th-Generation Line gained overall profit, Hefei 6th-Generation Line
realized profit for single month, Beijing 8.5th-Generation Line graded smoothly and produced in full
capacity in the end of Jul. 2012 with the raise of conformity rate to 94%. As advanced by the
Company’s persistence in deepening SOPIC innovation and transformation, the fundamental
capability of all business groups, centers, and organizations strengthened, the innovation capability
for products and technology was largely improved, and the enterprise competitive power and
market positions were improved obviously.
Operation of specific organizations
(1) Business of panel display
The production capacity of the 8.5th-Generation Line was effectively released in the first half year,
contributing remarkable growth of the Company’s overall shipment in global market. 32‖ product
reached No.1 in terms of market share in domestic market. As for medium-to-large-size panels, the
Company strengthen synergy and cooperation with strategic clients, consolidated and strengthened
cooperation with second-line clients, improving the sales volume greatly. As for TV panels,
Samsung from Korea was successfully introduced as our client, significantly contributing to the
accomplishment of the Company’s operation mission and the positive convertion of cash flow. As
for medium-to-small-size panels, the Company showed fine overall operation status, strengthened
the traction effect from clients, improved and maintained relationship with strategic clients,
15
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
intensified the transformation of production lines, enhanced the capability of new product plan and
development, product technology and craft, reinforced R&D of new technology, raised product
added value, efficiency of production lines, as well as production capacity.
In terms of product manufacture, the utilization ratio of production capacity and yield rate of
products were largely improved; quality assurance gradually rised, and product structure gradually
perfected; and the miniaturization upgrade and transformation of product lines were basically
accomplished. In terms of upply chain management, the Company took advantage of concentrated
bargaining, optimized supply chain structure, rapidly boosted BOM cost-down; strengthened deep
interaction among supply chain, product plan, and product development; strengthened cooperation
of technology and commerce with suppliers to achieve mutual benefit; reinforced standardized
construction and management in departments; boosted the domestication of materials. In terms of
product development, the development speed was largely improved, the application rate of results
of technology development was high, the capability of coordination and development rose, and the
product structure further optimized. In terms of technology development, 16 projects of technology
development were accomplished, 37 projects have been being executed, and 23 new projects were
in the plan, the R&D of cutting edge technologies, such as Oxide and AM-OLED, progressed well,
800 patents were submitted in the first half year, and the preparation of 7 international/domestic
industry technology standards was presided over by the Company, further strengthening the
Company’s discourse power and dominant right in the field of display standard.
(2) Business of display systems
The sales network was further improved and new sales channels, such as e-commerce and online
shopping, progressed greatly; the service standard has been largely enhanced; the Company
acquired the certification of national ―high-tech enterprise‖, and products of the Company entered
into the purchase list of Beijing municipal government.Sales volume in the first half year stably
grew, the development of new products achieved great progress, many products with strong
competitiveness, including MNT with touch function, were developed, and the development of
market and clients also got breakthrough, which meant strategic cooperation relations with
international first-tier clients were established.
(4) Business of light technology
Business of display lighting outperformed the plan, many products (including smart machines and
vehicle-mounted products) were introduced, the development of ultrathin, high brightness, and
backlight products was accomplished and the mass production was introduced, the automation of
medium-to-small-size backlight products continuously enlarged, the conformity rate stably rose,
and the capability of product technology and craft was further intensified. The business of ambient
lighting progressed smoothly in the first half year, with agreements with 34 franchisers signed and
B2B product sales realized, showing good result in stable propelling of projects in the industrial
park of lighting culture and science.
(5) Other business units
In terms of real estate business, the Company reinforced efforts to attract investment to the park,
raised customer satisfaction, and outperformed the net profit index previously planned. In terms of
vacuum molding, 3 strategic clients were added, the production line of light resistance was
16
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
accomplished, and the relocation work was gradually implemented as scheduled. In terms of energy
science and technology, the technology of deflector stand, which was independently researched and
developed and confirmed as non-destructive by real testing, was successfully declared to the 5MW
project of Zhongguancun.
2. Significant projects advanced orderly as scheduled
As for the Erdos 5.5th-Generation Line AM-OLED Project, the indicator for land used for project
construction was all reported, the plant construction progressed smoothly, and the roof-sealing
would be finished as scheduled in the year.
Is the Company’s actual business performance 20% lower or higher than any earning forecast or
business plan for the reporting period which has been publicly disclosed earlier?
□ Yes □ No √ Inapplicable
Analysis to the business and performances of the Company’s main subsidiaries and
stock-participating companies:
(Unit: RMB Ten thousand)
Company name Main product Registered capital Total Net asset Operating Operating Net profit
asset revenue profit
Beijing BOE Development USD 649.11 million 722,444 336,956 185,786 -14,924 -13,302
Optoelectronics and production
Technology Co., of TFT-LCD
Ltd.
Hefei BOE Development RMB 9 billion 1,770,986 723,404 365,619 -34,953 -30,556
Optoelectronics and production
Technology Co., of TFT-LCD
Ltd.
Beijing BOE Development RMB 17.3772 billion 2,882,958 1,655,909 222,616 -64,600 -57,912
Display and production
Technology Co., of TFT-LCD
Ltd.
Chengdu BOE Development RMB 1.83 billion 378,852 175,272 94,163 -1,735 58
Optoelectronics and production
Technology Co., of TFT-LCD
Ltd.
All risk factors that might have adverse impact on the Company’s effort to realize its future
development strategy and business goals:
17
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Risk factors:
1. Risks from external economy and market
In a short term, the recovery of global economy is uncertain, and the rapid growth of Chinese
economy will gradually slow down; electronic information industry is in the eve before
transformation, and the multi-network integration, mobile internet, cloud calculation, and smart
connection between things will bring about new waves of application, giving rise to a new round of
reorganization and shuffling of enterprises in the original industry chain.
2. Risks in panel display industry
The uncertainty in market expectation amplifies, the demand remains low, and the competitions
focusing on industry and economy commanding height among countries are more and more fierce,
and the demand for panel display is facing weak demand, fierce competitions, and rapid update of
product and technology.
Countermeasures:
1. Business groups of display devices
In terms of business of medium-to-large size products, the Company should adjust product structure
according to market change, and expand sales to ensure annual target. In terms of medium-to-small
size products, the Company should reinforce the development of strategic clients, accelerate the
speed of new product introduction, optimize product structure, improve craft technology and
capability, and accelerate the industrialization application of new technologies. In terms of global
supply chain organization, the Company should continuously cut down cost of supply chain, ensure
supply, propel the execution of key supporting projects for domestication, comprehensively
synchronize product plan and development, fully dig out and boost the cooperation and
mutual-profit creation with suppliers. In terms of product development organization, the Company
should ensure development speed, and speed up the commercialization of R&D efforts. In terms of
global manufacture, the Company should optimize product structure, improve efficiency of product
lines, and improve product quality, so as to ensure the achievement of annual business target.
2. Business groups of non-display devices
In terms of business group of display system brands, the Company should continuously deepen the
core value of brand, advance the work of self-built e-commerce shopping platform; integrate all key
links in supply chain, improve the timeliness of supply and the competitiveness of cost, further
satisfying users; and reinforce verification for foundries, as well as improve quality
competitiveness.
In terms of business group of OEM for complete machine brands, the Company should fully
integrate R&D power, promote featured products and low-cost products as soon as possible,
improve competitiveness; strengthen the development of products with self-owned brands, raise the
promotion of main-stream clients; optimize production-to-sale structure, and continuously cut down
BOM cost.
In terms of business group of lighting science and technology: As for business of display lighting,
the Company should emphasize on capability of planning market and products, enlarge new market
18
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
on the basis of serving current clients well, strengthen product structure adjustment, and propel
innovation concept. As for ambient lighting, the Company should perfect 3C identification for
products in B2C channel, and get energy-saving certification from government. As for business of
lighting culture and science, the Company should confirm the cooperator of LED project as soon as
possible, so as to ensure the progress of key projects of the year.
In terms of other businesses: As for real estate business, the Company should persist in customer
orientation, improve service quality, build UCP, and improve the brand image of UBP. As for
vacuum molding business, the Company should accelerate the optimization of product structure and
production layout. As for business of energy science and technology, the Company should further
deepen and refine the strategy of ―application + technology‖, so as to form core competitiveness.
1. Main business lines and their operating results
(1) Main business lines classified by industries and products
Unit: RMB Yuan
Increase/decrease
Increase/decrease Increase/decrease of
of operating
of operating cost gross margin
Operating Gross margin revenue
Industries/products Operating cost compared with the compared with the
revenue (%) compared with
same period last same period last
the same period
year (%) year (%)
last year (%)
By industry
12,199,149,140.
TFT-LCD 12,225,070,764.00 -0.2% 213.4% 172.1% 15.2%
00
1,014,288,844.0
Display lighting 956,036,513.00 5.7% 37.2% 34.7% 1.8%
0
Display systems 856,696,380.00 822,702,651.00 4% 31.2% 41.3% -6.9%
Other businesses 439,354,891.00 298,888,290.00 32% -51.5% -60.7% 16%
-5,180,948,753.
Offset -5,138,332,271.00 0.8% 279.1% 276.5% 0.7%
00
Total 9,328,540,502 9,164,365,947 1.8% 93.4% 76.9% 9.2%
By product
12,199,149,140.
TFT-LCD 12,225,070,764.00 -0.2% 213.4% 172.1% 15.2%
00
1,014,288,844.0
Display lighting 956,036,513.00 5.7% 37.2% 34.7% 1.8%
0
19
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Display systems 856,696,380.00 822,702,651.00 4% 31.2% 41.3% -6.9%
Other businesses 439,354,891.00 298,888,290.00 32% -51.5% -60.7% 16%
-5,180,948,753.
Offset -5,138,332,271.00 0.8% 279.1% 276.5% 0.7%
00
Total 9,328,540,502 9,164,365,947 1.8% 93.4% 76.9% 9.2%
Explanation to the reasons for any significant year-on-year change of the gross margin:
The overall gross margin of TFT-LCD business recorded YoY increase, mainly because, in the
reporting period, the production and sales scale of the Company’s TFT production line enlarged, the
product structure continuously optimized, and the product competitiveness improved.
The overall gross margin of other businesses recorded YoY increase, mainly because the Company
enhanced brand building in real estate business, improved rental rate, leading to increase of overall
revenue and gross margin.
(2)Main business lines classified by regions
Unit: RMB Yuan
Increase/decrease of operating
Regions Operating revenue revenue compared with the same
period of last year (%)
China 4,947,479,261.00 44.9%
Other Asian countries and regions 8,066,795,465.00 196.4%
Europe 641,719,191.00 577.0%
American countries 306,415,531.00 209.7%
Other countries 547,079,807.00 7618.0%
Offset -5,180,948,753.00 242.4%
Total 9,328,540,502 93.4%
Explanation to the main business performances classified by regions:
Sales income in different regions in the year recorded YoY increase, mainly because the full
production and full sales of Hefei 6th-Generation Line, together with the mass production of Beijing
8.5th-Generation Line resulted in scale expansion of overall operating revenue.
(3) Reasons for significant changes in main business and its structure
□Applicable √Inapplicable
20
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
(4) Reasons for significant changes in profitability of main business (gross margin) compared
with that in the last year
□Applicable √Inapplicable
(5) Analysis on reasons of significant changes in profit breakdown compared with the last
year
□Applicable √Inapplicable
(6) Business nature, main products/services, net profit and other particulars about
stock-participating companies which made a contribution over 10% to the Company’s net
profit for the reporting period
□Applicable √Inapplicable
(7) Problems and difficulties encountered in operation
□Applicable √Inapplicable
2. Internal control rules in relation to fair value measurement
√Applicable □Inapplicable
Items related to fair value measurement:
Unit: RMB Yuan
Gains/losses on Accumulative fair
Impairment
fair value changes value changes
Item Opening amount provisions for the Closing amount
in the reporting recorded into
reporting period
period equity
Financial assets
Including: 1.
Financial assets
measured at fair
value whose
0 0 0 0 0
changes are
recorded into
current gains and
losses
Of which:
derivative 0 0 0 0 0
financial assets
2.
Available-for-sale 74,718,931.00 13,007,430.00 87,726,361.00
financial assets
Subtotal of 74,718,931.00 13,007,430.00 87,726,361.00
21
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
financial assets
Financial liabilities 0 0 0 0 0
Investment
0 0 0 0 0
property
Productive
0 0 0 0 0
biological assets
Others 0 0 0 0 0
Total 74,718,931.00 13,007,430.00 87,726,361.00
Where the value estimation technique was adopted to determine fair value for the same or similar
items within the two years, is there any significant difference between the value estimation results?
If yes, please state in detail.
□Yes √ No □Inapplicable
3. Foreign-currency financial assets and liabilities held
√Applicable □Inapplicable
Unit: RMB Yuan
Gains/losses on Accumulative fair
Impairment
fair value changes value changes
Item Opening amount provisions for the Closing amount
in the reporting recorded into
reporting period
period equity
Financial assets
Including: 1.
Financial assets
measured at fair
value whose
0 0 0 0 0
changes are
recorded into
current gains and
losses
Of which:
derivative 0 0 0 0 0
financial assets
2. Loans and
0 0 0 0 0
receivables
3.
Available-for-sale 28,043,307.00 2,935,840.00 30,979,147.00
financial assets
22
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
4.
Held-to-maturity 0 0 0 0 0
investments
Subtotal of
28,043,307.00 2,935,840.00 30,979,147.00
financial assets
Financial
0 0 0 0 0
liabilities
（II）Investments
1. General utilization of the raised funds
□Applicable √Inapplicable
Unit: RMB Ten thousand
Total raised capital 2,296,886
Total raised capital input in the reporting period 371,008
Accumulative raised capital input 2,137,256
Total raised capital of which the use was changed
0
in the reporting period
Accumulative raised capital of which the use was
423,191
changed
Proportion of accumulative raised capital of
18.42%
which the use was changed
General utilization of the raised funds
The utilization of raised funds of the Company is now in stable process as scheduled.
23
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
2. Projects promised to be invested with raised funds
√Applicable □Inapplicable
Unit: RMB Ten thousand
Significant
Changed Total Accumulative Investment Date when
Total Invested Benefit change
Committed investment projects projects or investment invested progress as at the project Reached
committed amount in the realized in occurred to
and investment direction of not (partial after amount as at the end of the reached projected
investment of reporting the reporting feasibility of
extra raised funds change adjustment the end of the period (%)(3) serviceable benefit or not
raised funds period period the project or
included) (1) period (2) ＝(2)/(1) condition
not
Committed investment projects
Production line of
6th-Generation TFT-LCD (6G No 1,078,331 895,950 34,504 853,689 95.28% 1 May 2011 -30,556 No No
Project)
Supplementing current capital
No 100,000 282,381 282,381 100% N/A N/A N/A No
(2009)
Production line of
8.5th-Generation TFT-LCD No 850,000 850,000 336,504 732,631 86.19% 1 Jul 2012 -57,912 N/A No
(8.5G Project)
Supplementing current capital
No 44,365 44,365 44,365 100% N/A N/A N/A No
(2010)
Subtotal of committed
- 2,072,696 2,072,696 371,008 1,913,066 - - -88,468 - -
investment projects
Situation and reason on failing None
24
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
to catch up with the planned
progress or achieve the
estimated earnings (with details
of each involved project)
Explanation on significant
None
change of project feasibility
Amount, usage, and utilization □ Applicable √ Inapplicable
progress of extra raised funds None
□ Applicable √ Inapplicable
Change of implementation place
of projects invested by raised □ Occurred in the reporting period □ Occurred in previous years
funds
None
□ Applicable √ Inapplicable
Adjustment in implementation
way of projects invested by □ Occurred in the reporting period □ Occurred in previous years
raised funds
None
√ Applicable □ Inapplicable
Before raised funds of Y2009 were available, in accordance with Proposal on Investing and Establishing 6 th-Generation TFT-LCD Production Line
Preliminary input and Project and Proposal on Issuance Scheme of Private Offering of A stock approved by voting at the 17th Session of the 5th Board of Directors on 7
replacement of projects invested Nov. 2008 and the 2nd Shareholders’ General Meeting 2008 on 25 Nov. 2008, the Company preliminarily input self raised funds of RMB
by raised funds 1,309,500,000.00 to construction of 6G Project. After raised funds of Y2009 became available, based on the Management Method of Raised Funds
of Listed Companies of Shenzhen Stock Exchange, and as reviewed and passed by the 26th Session of the 5th Board of Directors on 23 Jun. 2009,
the Company replaced the preliminary self-raised funds put into 6G Project by raised funds of RMB 1,309,500,000.00.
Temporarily supplementing √ Applicable □ Inapplicable
25
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
current capital with idle raised
In light of Public Notice of BOE Technology Group Co., Ltd. on Supplementing Current Capital with Some Idle Raised Funds by its Controlled
funds
Subsidiary on 21 Aug. 2009, in order to improve the service efficiency of raised Funds, and under the premise of not changing whereabouts of
raised funds and not influencing normal operation of raised funds projects, temporarily idle capital of less than RMB 900 million in the regulatory
account of raised funds of Hefei BOE Co., Ltd. were used to supplement current capital need in other accounts of Hefei BOE Co., Ltd. with a
limited period of 6 months, so as to be applied in daily payments and other businesses in other accounts. Hefei BOE Co., Ltd. has returned the
aforesaid raised proceeds to the special account in time according to stipulations.
√ Applicable □ Inapplicable
As reviewed and approved by the 17th Session in 2008 of the 5th Board of Directors, the Company originally intended to use RMB 9 billion from
Surplus of raised funds during raised funds in 2009 to invest the 6G project, and promised to use the extra surplus to construct the 6G project when the actual net raised funds
the implementation of projects exceeded the intended total input of raised funds. At present, the financial structure of 6G project is rational, and the operating capital is enough
and reason thereof and stable, meeting daily operation demands. On 22 Apr. 2011, the 8th Session of the 6th Board of Directors reviewed and approved the Proposal on
Using Surplus Funds Privately Raised in 2009 to Supplement Current Capital, agreeing to use the surplus raised funds of RMB 1,910,185,759.45
(including capital of RMB 1,823,808,831.30 and derivative interest of RMB 86,376,928.15), which was deposited by Hefei BOE in the special
account for raised funds of the Company till 31 Mar. 2011 and originally promised to be invested to 6G project, to supplement current capital.
I. The remaining raised funds in 2009 would be used for construction and operation of the Hefei 6G Line, which are currently put into the special
accounts for raised funds and strictly managed by Hefei BOE Optoelectronics Technology Co., Ltd.—the company in charge of the project
Usage and whereabouts of the
implementation; II. The remaining raised funds in 2010 would be used for construction and operation of the Beijing 8.5G Line, which are currently
remaining raised funds
put into the special accounts for raised funds and strictly managed by Beijing BOE Display Technology Co., Ltd. —the company in charge of the
project implementation.
Existing problems or other
conditions during the usage and None
disclosure of raised funds
26
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
3. Change of projects invested with raised funds
□Applicable √Inapplicable
4. Significant projects invested with non-raised funds
√Applicable □Inapplicable
Unit: RMB Ten thousand
Disclosure date of
Amount for
Project name the first Project progress Project earnings
the project
announcement
AM-OLED Project of
31 Dec. 2011 44,522 2% Inapplicable
Yuansheng Optoelectronics
Total 44,522 -- --
Notes to significant projects invested with non-raised funds
None
(III) Revision of the Board of Directors’ business plan for the second half of the
year
□Applicable √Inapplicable
(IV) Business performance estimate for Jan.-Sept. 2012
Warnings of estimated possible losses or major changes of the accumulative net profit
achieved during the period from the beginning of the year to the end of the next
reporting period compared with the same period of last year, as well as the reasons
√Applicable □Inapplicable
Business performance forecast: loss
Type of the business performance forecast data
□ Exact number √ Interval number
Jan.-Sept. 2012 Jan.-Sept. 2011
Estimated cumulative net
-78,000 -- -70,000 -214,309
profit (RMB Ten thousand)
Basic EPS (RMB Yuan/share) -0.06 -- -0.05 -0.16
1. Since 2012, prices for liquid crystal panels have become stable, prices for
medium-and-large-sized panels have bounced back while those for small-sized have dropped
Notes to the business obviously. As the 8.5G Line reaches its full production capacity, the shipment of the Company has
performance forecast jumped to No. 5 worldwide, which means that the Company has had the business basis for it to
compete in the global market.
27
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
2. In terms of all the production lines, the Company made sure their full production and a full sale
while at the same time proactively adjusting the product structure, accelerating development of
products with high added value and increasing competitiveness of its products. It is expected that
the 4.5G, 5G and 6G lines will generate profit in the third quarter and that the performance of the
8.5G line will improve. The third quarter of 2012 is expected to see profit in terms of the overall
business performance of the Company.
（V）Explanation of the Board of Directors on “Non-standard Auditing Report”
issued by the CPA firm for the reporting period
□Applicable √Inapplicable
（VI）Explanation of the Board of Directors on changes and solutions of the
issues involved in the “Non-standard Auditing Report” issued by the CPA firm
for last year
□Applicable √Inapplicable
（VII）State the discussion results of the Board of Directors on the reasons and
influence of the Company’s accounting policy and estimate alterations or
significant accounting error correction
□Applicable √Inapplicable
（VIII）Formulation and execution of the Company’s cash dividend policy
In order to improve and perfect the sustainable, stable, and scientific mechanism for
cash dividends, positively return investors, fully protect shareholders’ legal rights, for
example, return on assets, on the basis of perfecting and implementing relevant
stipulations in Articles of Association, the Company drafted its dividend policy
according to the spirit conveyed by the Notice on Further Implementing Cash
Dividend Related Issues of Listed Companies issued by CSRC and the Notice on
Further Perfecting Cash Dividend Related Issues of Listed Companies (JZGSF [2012]
No.101) issued by Beijing Securities Regulatory Bureau.
I. Formulation principle of dividend policy
Considering factors including current completion environment, industry features,
development strategy, and development period, and viewing the reality conditions
including social capital cost, external financing environment, and cash flow status, the
Board formulated sustainable, stable, and rational return mechanism to ensure the
consistency and stability of profit distribution policy on the basis of taking full advice
from minority shareholders, independent directors, and the Supervisory Committee.
I. Planning of dividend policy
In view of middle-to-long term development strategy and plan, as well as short-term
development target of the Company, The Board of the Company made following
plans for return for shareholders in future 3 years according to profit distribution
policy ruled in Articles of Association.
28
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
(I) Principles for profit distribution
1. The Company shall take return for shareholders into full consideration. After
offsetting accumulative loss, the Company shall distribute dividends to shareholders
according to the stipulated proportion of distributable profit in consolidated statement
realized in that very year.
2. The profit distribution policy shall keep consistence and stability, and concurrently
take care of long-term profit of the Company, overall profit of all shareholders, and
the sustainable development of the Company.
3. The Company shall prior adopt cash dividends as the way of profit distribution.
(II) Form and period of profit distribution
The Company shall distribute dividends in the way of cash, shares, or the combination
of cash and shares. If allowed, the Company can have interim profit distribution.
(III) Terms for profit distribution
1. Terms for cash dividends: The Company shall use cash to distribute dividends
when profit and accumulative retained profit of that very year is positive. Profit
distributed by cash every year shall not be less than 10% of distributable profit in the
realized consolidated statement of the very year. Special circumstance should be
deliberated by the Shareholders General Meeting and clearly defined in Articles of
Association.
2. Terms for share dividends: When the operating status is good, and the Board agrees
that stock price of the Company can’t match the scale of share capital of the Company,
and distribution of share dividends shall benefit the integrated profit of all
shareholders of the Company, the Company can propose Preplan for Distribution of
Share Dividends under the circumstance of meeting the aforesaid terms for cash
dividends.
III. Formulation procedures of dividend policy
The dividend policy was discussed and approved by the Board, and was submitted
and approved in special resolution in the Shareholders General Meeting after being
reviewed by independent directors. Meanwhile, profit distribution policy for return
planning has been clearly defined in Articles of Association.
（IX）Pre-plan for profit distribution or turning capital reserve into share
capital
□Applicable √Inapplicable
（X）The accumulative retained profit as at the end of 2011 is a positive number
but the Company has not put forward a cash dividend pre-plan.
□Applicable √Inapplicable
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
(XI) Other events for disclosure
None
（XII）The Company’s liabilities, credit changes and future cash arrangements
for debt-clearing (Only listed companies with convertible corporate bonds are
required to fill the table below.)
□Applicable √Inapplicable
VI Significant Events
(I) Corporate governance
In strict accordance with laws and regulations including Company Law, Securities
Law, Code of Corporate Governance for Listed Companies, as well as the Standard
Operation Index for Companies Listed in the Mainboard of Shenzhen Stock Exchange,
the Company continuously perfected corporate governance structure, improved
internal control system, and raised corporate governance level.
In the reporting period, according to the requirements of the Notice on Developing
Self-check and Self-correction for Standard Operation of Listed Companies in Beijing
jurisdiction, the Company executed self-check and self-correction for the Company
Board, Supervisory Committee, the senior management, and the standard operation of
information disclosure, and prepared the report and correction plan for self-check and
self-correction. The activity of self-check and self-correction showed little difference
between the details of standard operation of the Company and the requirements of
regulatory departments. The Company would further perfect standard governance
according to the correction plan.
As required by CSRC, the Company has officially implemented internal control
standards since 2012. As at 30 Jun 2012, the Company had internally executed
thorough internal control standards, including financial reports, and had included all
subsidiaries in the range of consolidated statements into the scope of execution of
internal control standards. In light of the schedule of work plan of the execution of
internal control standard of Y2012, the Company finished refining, simplification, and
optimization of core business processes and key management and control processes,
revised system manual, and updated risk list on the basis of optimized processes.
(II) Execution of the plans for profit distribution, turning capital reserve into
share capital or new share issuance which had been made in the previous period
and were carried out in the reporting period
□ Applicable √ Inapplicable
(III) Significant litigations and arbitrations
□Applicable √Inapplicable
30
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
The Company was not involved in any significant lawsuit or arbitration during the
reporting period.
(IV) Bankruptcy or reorganization events
□Applicable √Inapplicable
(V) Holding equity of other listed companies and joint financial enterprises
1. Securities investment
□Applicable √Inapplicable
Notes to securities investment:
2. Holding equity of other listed companies
√Applicable □Inapplicable
Change of
Proportio Gain/loss
owners’
Initial n in the Closing in the
equity
Stock Stock investment company carrying reporting Accounting Stock
during the
code abbr. amount ’s total amount period title source
reporting
(RMB Yuan) equity (RMB Yuan) (RMB
period
(%) Yuan)
(RMB Yuan)
TPV Available-for-s
134,658,158. 30,979,147. 2,935,840.0 Subscripti
HK0903 Technolog 1.04% 0.00 ale financial
00 00 0 on
y assets
Available-for-s
SH60065 Electronic 90,160,428.0 56,747,214. 1,669,314. 10,071,590. Share
1.69% ale financial
8 Zone 0 00 00 00 exchange
assets
224,818,586. 87,726,361. 1,669,314. 13,007,430.
Total -- -- --
00 00 00 00
Notes to holding equity of other listed companies:
3. Holding equity of non-listed financial enterprises
□Applicable √Inapplicable
Notes to holding equity of non-listed financial enterprises
None
4. Trading stocks of other listed companies
□Applicable √Inapplicable
Notes to trading stocks of other listed companies
None
31
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
(VI) Assets transaction events
1. Purchase of assets
□Applicable √Inapplicable
2. Sale of assets
□Applicable √Inapplicable
3. Exchange of assets
□Applicable √Inapplicable
4. Business combination
□Applicable √Inapplicable
5. Progress of these events after the publication of the assets reorganization
report or public notices on the purchases or sales of assets, as well as the
influences of these events on the operation results and financial status of the
Company in this reporting period
□Applicable √Inapplicable
(VII) Explanation on shareholding increase scheme during the reporting period
proposed or implemented by the principal shareholders and act-in-concert
persons
□Applicable √Inapplicable
(VIII) Implementation situation and influence of equity incentive plan of the
Company
□Applicable √Inapplicable
(IX) Significant related-party transactions
1. Related-party transactions relevant to routine operation
□ Applicable √Inapplicable
2. Related-party transactions regarding purchase and sales of assets
□Applicable √Inapplicable
3. Significant related-party transitions with joint investments
□Applicable √Inapplicable
32
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
4. Significant credits and liabilities with related parties
□Applicable √Inapplicable
I□Applicable √Inapplicable
□Applicable √Inapplicable
5. Other significant related-party transactions
Naught
(X) Significant contracts and execution
1. The trust, contract and lease whose profits reaching more than 10% (including 10%) of
the total profits of the Company in the reporting period
(1) Status of trust
□Applicable √Inapplicable
（2）Particulars about contracting
□Applicable √Inapplicable
（3）Particulars about leasing
□Applicable √Inapplicable
2. Guarantees provided by the Company
√ Applicable □ Inapplicable
Unit: RMB Ten thousand
Guarantees provided by the Company for external parties (excluding those for subsidiaries)
Disclosure Guarante
Actual
date of Actual e for a
Amount for occurrence date Type of Period of Executed
Guaranteed party relevant guarantee related
guarantee (date of guarantee guarantee or not
announcem amount party or
agreement)
ent not
From the
guarantee
contract
Beijing Agricultural
4 Jun. 2012 1,500 - 0 Pledge signing date No No
Guarantee Co., Ltd.
to the date
when the
liabilities
33
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
under the
contract are
all repaid
Total external guarantee line Total actual occurred amount
approved during the reporting 1,500 of external guarantee during -
period (A1) the reporting period (A2)
Total external guarantee line that Total actual external guarantee
has been approved at the end of 1,500 balance at the end of the -
the reporting period (A3) reporting period (A4)
Guarantees provided by the Company for its subsidiaries
Disclosure Guarante
Actual
date of Actual e for a
Amount for occurrence date Type of Period of Executed
Guaranteed party relevant guarantee related
guarantee (date of guarantee guarantee or not
announcem amount party or
agreement)
ent not
Beijing BOE 8 Apr.
Optoelectronics 8 Apr. 2005 468,043 31 Mar. 2005 217,429 Warranty 2005-13 Apr. No No
Technology Co., Ltd. 2014
Total guarantee line approved for Total actual occurred amount
the subsidiaries during the of guarantee for the
0 0
reporting period subsidiaries during the
(B1) reporting period (B2)
Total guarantee line that has been
Total actual guarantee balance
approved for the subsidiaries at
468,043 for the subsidiaries at the end 217,429
the end of the reporting period
of the reporting period (B4)
(B3)
Total guarantee amount provided by the Company (total of the above-mentioned two kinds of guarantees)
Total guarantee line approved Total actual occurred amount
during the reporting period 1,500 of guarantee during the 0
(A1+B1) reporting period (A2+B2)
Total guarantee line that has been
Total actual guarantee balance
approved at the end of the
469,543 at the end of the reporting 217,429
reporting period
period (A4+B4)
(A3+B3)
Proportion of total guarantee amount (A4+B4) to the net assets
8.76%
of the Company
Of which:
Amount of guarantee for shareholders, actual controller and
0
related parties (C)
Amount of debt guarantee provided for the guaranteed party 0
34
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
whose asset-liability ratio is not less than 70% directly or
indirectly (D)
Part of the amount of the total guarantee over 50% of net assets
0
(E)
Total amount of the above three guarantees (C+D+E) 0
Explanation on possible bearing joint responsibility of
Naught
liquidation due to immature guarantee
Explanation on provision of guarantees for external parties in
Naught
violation of the prescribed procedure
3. Entrusted financial management
□Applicable √Inapplicable
4. Performance of significant contracts relevant to routine operation
□Applicable √Inapplicable
5. Other significant contracts
□Applicable √Inapplicable
(XI) Explanation on issuing corporate bonds
□Applicable √Inapplicable
(XII) Performance of commitments
1. Commitments made by the Company or shareholders holding over 5% of the Company’s
shares in the reporting period, or such commitments carried down into the reporting period
□Applicable √Inapplicable
2. The Company’s assets or projects exist profitable prediction and the reporting period is in
such prediction period, it states the profits from the assets or projects reaching original
prediction and relevant reasons
□Applicable √Inapplicable
(XIII) Items of other comprehensive income
Unit: RMB Yuan
35
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Items This reporting period Same period of last year
1. Profits/(losses) from available-for-sale financial assets 13,007,430.00 -21,300,944.00
Less: Effects on income tax generating from
- -
available-for-sale financial assets
Net amount transferred into profit and loss in the current
period that recognized into other comprehensive income in - -
prior period
Subtotal 13,007,430.00 -21,300,944.00
2. Interests in the investee entities’ other comprehensive
- -
income as per equity method
Less: Effects on income tax generating from the interests in
the investee entities’ other comprehensive income as per - -
equity method
Net amount transferred into profit and loss in the current
period that recognized into other comprehensive income in - -
prior period
Subtotal - -
3. Profits/(losses) from cash flow hedging instrument - -
Less: Effects on income tax generating from cash flow
- -
hedging instrument
Net amount transferred into profit and loss in the current
period that recognized into other comprehensive income in - -
prior period
The adjustment value that is the converted initial recognition
- -
amount of arbitrage project
Subtotal - -
4. Converted amount of foreign currency financial statements 1,066,762.00 314,125.00
Less: Net value of disposal of oversea operations that
- -
recognized into current profit and loss
Subtotal 1,066,762.00 314,125.00
5. Other - -
Less: Effects on income tax generating from the others that
- -
included into other comprehensive income
Net amount transferred into profit and loss in the current
period that recognized into other comprehensive income in - -
prior period
Subtotal - -
Total 14,074,192.00 -20,986,819.00
36
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
(XIV) Particulars about researches, visits and interviews received in this
reporting period
Main discussion and
Time of Way of
Place of reception Visitor type Visitor materials provided by
reception reception
the Company
Conference Room of
9 Jan. 2012 Field research Institution Azentus Capital
the Company
Longzhong
Conference Room of
11 Jan. 2012 Field research Institution Investment, CITIC
the Company
Securities
Daiwa Securities,
18 Jan. 2012 Over phone By phone Institution Daiwa Securities
(HK) Main discussion:
BOC International 1. Operation status and
7 Feb. 2012 Over phone By phone Institution
(China) future development
strategies of the
YCT Investment
16 Feb. 2012 Over phone By phone Institution Company;
Management
2. Present status and
Daiwa Securities
Conference Room of development trends in
24 Feb. 2012 Field research Institution and Beijing Office
the Company the industry;
of Daiwa Securities
3. Particulars about
Citibank Hong Chengdu 4.5G Line,
2 Mar. 2012 Over phone By phone Institution
Kong Beijing 5G Line, Hefei
6 Mar. 2012 Over phone By phone Institution Huatai Securities 6G Line, Beijing 8.5G
Line and Inner
Conference Room of Fino wave
7 Mar. 2012 Field research Institution Mongolia Erdos 5.5G
the Company investments
AMOLED Line.
Conference Room of
8 Mar. 2012 Field research Institution Dacheng Fund Materials provided by
the Company
the Company:
Conference Room of
9 Mar. 2012 Field research Institution Yinhua Fund The Company’s annual
the Company
reports for 2010 and
Shanghai Office of 2011, brochure and
Merrill Lynch, other materials available
Merrill Lynch for public access
16 Mar. 2012 Ritz-Carlton Hotel Field research Institution
(Asia-Pacific) Co.,
Ltd., Cephei capital,
Mitsubishi UFJ
Conference Room of Everbright
19 Mar. 2012 Field research Institution
the Company Securities
Sylebra Capital
20 Mar. 2012 Over phone By phone Institution
Management
37
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
GF Securities, Jiahe
Life, Cinda
Conference Room of Securities, Zexi
7 May 2012 Field research Institution
the Company Investment,
Zhongzhi Enterprise
Group
China Securities,
Lion Fund,
Changsheng Fund,
Enterprise
Management Center
of Beijing Anquan
Conference Room of
11 May 2012 Field research Institution Xingye, Minsheng
the Company
Securities,
AVIVA-COFCO,
Dacheng Fund,
Shanghai Liuhe
Investment, GF
Securities
Everbright
17 May 2012 Over phone By phone Institution
Securities
Industrial Securities,
Orient Securities
Conference Room of
22 May 2012 Field research Institution Asset Management,
the Company
Mizuho Corporate
Bank
Conference Room of Kylin Management
24 May 2012 Field research Institution
the Company LLC
FrankLin Templeton
Conference Room of
15 Jun. 2012 Field research Institution Sealand Fund
the Company
Management
Shenzhen Central
18 Jun. 2012 Over phone By phone Institution Solomon Capital
Investment
Conference Room of Asian Century
19 Jun. 2012 Field research Institution
the Company Quest
(XV) Particulars about engagement and disengagement of CPAs firm
Has this interim report been audited?
□ Yes √ No □ Inapplicable
38
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Has the CPAs firm been changed?
□ Yes □ No √ Inapplicable
(XVI) Particulars about punishment and rectification order received by the
Company, its directors, supervisors, senior executives, shareholders, actual
controller and acquirer
□Applicable √Inapplicable
(XVII) Explanation on other significant events
√Applicable □Inapplicable
On 14 Aug. 2012, the Company, the People’s Government of Hefei City and Chaohu City
Construction and Investment Co., Ltd. signed the Framework Agreement Regarding Making
Investment in the Hefei Xincheng Optoelectronics Technology Co., Ltd. TFT-LCD 8.5G
Production Line Project. According to the Agreement, the Company will, with Hefei Xincheng
Optoelectronics Technology Co., Ltd. as the platform for investment, construction and operation,
invest to build a TFT-LCD 8.5G whole-process production line in Hefei City. For details, see the
Announcement on Signing an Investment Framework Agreement (Announcement No. 2012-024)
disclosed by the Company on 16 Aug. 2012.
(XVIII) Particulars about significant changes in the profitability, asset status and
credit status of the Company’s convertible bonds guarantor
(Only listed companies which issue convertible corporate bonds are required to fill the form below.)
□Applicable √Inapplicable
(XIX) Index for information disclosure
Internet website for disclosing
Newspapers for disclosing
Event Publishing date information and the searching
information and relevant page
approach
China Securities Journal,
Announcement on Correction http://www.cninfo.com.cn/finalpa
Securities Times, Shanghai
of the 2011 Annual Earnings 31 Jan. 2012 ge/2012-01-31/60481585.PDF?w
Securities News and Ta Kung
Forecast ww.cninfo.com.cn
Pao
China Securities Journal,
Announcement on Resolutions http://www.cninfo.com.cn/finalpa
th th
Securities Times, Shanghai
of the 19 Session of the 6 29 Mar. 2012 ge/2012-03-29/60750119.PDF?w
Securities News and Ta Kung
Board of Directors ww.cninfo.com.cn
Pao
39
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
China Securities Journal,
http://www.cninfo.com.cn/finalpa
2011 Annual Preliminary Securities Times, Shanghai
14 Apr. 2012 ge/2012-04-14/60829863.PDF?w
Earnings Estimate Securities News and Ta Kung
ww.cninfo.com.cn
Pao
China Securities Journal,
http://www.cninfo.com.cn/finalpa
Earnings Forecast for the First Securities Times, Shanghai
14 Apr. 2012 ge/2012-04-14/60829864.PDF?w
Quarter of 2012 Securities News and Ta Kung
ww.cninfo.com.cn
Pao
China Securities Journal,
Announcement on Resolutions http://www.cninfo.com.cn/finalpa
th th
Securities Times, Shanghai
of the 20 Session of the 6 27 Apr. 2012 ge/2012-04-27/60922694.PDF?w
Securities News and Ta Kung
Board of Directors ww.cninfo.com.cn
Pao
China Securities Journal,
Announcement on the 8th http://www.cninfo.com.cn/finalpa
th
Securities Times, Shanghai
Session of the 6 Supervisory 27 Apr. 2012 ge/2012-04-27/60922703.PDF?w
Securities News and Ta Kung
Committee ww.cninfo.com.cn
Pao
China Securities Journal,
http://www.cninfo.com.cn/finalpa
Securities Times, Shanghai
2011 Annual Report (Abstract) 27 Apr. 2012 ge/2012-04-27/60922681.PDF?w
Securities News and Ta Kung
ww.cninfo.com.cn
Pao
China Securities Journal,
Announcement on Expected http://www.cninfo.com.cn/finalpa
Securities Times, Shanghai
Routine Related-party 27 Apr. 2012 ge/2012-04-27/60922679.PDF?w
Securities News and Ta Kung
Transactions for 2012 ww.cninfo.com.cn
Pao
China Securities Journal,
http://www.cninfo.com.cn/finalpa
Earnings Forecast for the First Securities Times, Shanghai
27 Apr. 2012 ge/2012-04-27/60922680.PDF?w
Half of 2012 Securities News and Ta Kung
ww.cninfo.com.cn
Pao
China Securities Journal,
Notice on convening the 2011 http://www.cninfo.com.cn/finalpa
Securities Times, Shanghai
Annual Shareholders’ General 27 Apr. 2012 ge/2012-04-27/60922695.PDF?w
Securities News and Ta Kung
Meeting ww.cninfo.com.cn
Pao
China Securities Journal,
http://www.cninfo.com.cn/finalpa
Report of the First Quarter Securities Times, Shanghai
27 Apr. 2012 ge/2012-04-27/60922709.PDF?w
Report for 2012 Securities News and Ta Kung
ww.cninfo.com.cn
Pao
China Securities Journal,
Announcement on Affiliated http://www.cninfo.com.cn/finalpa
Securities Times, Shanghai
Subsidiary Being Granted 17 May 2012 ge/2012-05-17/61007443.PDF?w
Securities News and Ta Kung
Government Subsidies ww.cninfo.com.cn
Pao
Suggestive Announcement on China Securities Journal, 24 May 2012 http://www.cninfo.com.cn/finalpa
40
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
convening the 2011 Annual Securities Times, Shanghai ge/2012-05-24/61038163.PDF?w
Shareholders’ General Meeting Securities News and Ta Kung ww.cninfo.com.cn
Pao
China Securities Journal,
Announcement on Resolutions http://www.cninfo.com.cn/finalpa
Securities Times, Shanghai
of the 2011 Annual 31 May 2012 ge/2012-05-31/61068577.PDF?w
Securities News and Ta Kung
Shareholders’ General Meeting ww.cninfo.com.cn
Pao
China Securities Journal,
http://www.cninfo.com.cn/finalpa
Securities Times, Shanghai
Suggestive Announcement 2 Jun. 2012 ge/2012-06-02/61079206.PDF?w
Securities News and Ta Kung
ww.cninfo.com.cn
Pao
China Securities Journal,
Announcement on Resolutions http://www.cninfo.com.cn/finalpa
st th
Securities Times, Shanghai
of the 21 Session of the 6 5 Jun. 2012 ge/2012-06-05/61088763.PDF?w
Securities News and Ta Kung
Board of Directors ww.cninfo.com.cn
Pao
Announcement on Beijing China Securities Journal,
http://www.cninfo.com.cn/finalpa
Asahi Glass Electronics Co., Securities Times, Shanghai
5 Jun. 2012 ge/2012-06-05/61088762.PDF?w
Ltd. Proving an External Securities News and Ta Kung
ww.cninfo.com.cn
Counter-guarantee Pao
China Securities Journal,
Suggestive Announcement on http://www.cninfo.com.cn/finalpa
Securities Times, Shanghai
Unlocking A-share Privately 15 Jun. 2012 ge/2012-06-15/61139900.PDF?w
Securities News and Ta Kung
Offered in 2009 ww.cninfo.com.cn
Pao
China Securities Journal,
http://www.cninfo.com.cn/finalpa
Securities Times, Shanghai
Suggestive Announcement 22 Jun. 2012 ge/2012-06-22/61170134.PDF?w
Securities News and Ta Kung
ww.cninfo.com.cn
Pao
China Securities Journal,
Announcement on Progress of http://www.cninfo.com.cn/finalpa
Securities Times, Shanghai
Affiliated Subsidiary Being 26 Jun. 2012 ge/2012-06-26/61178413.PDF?w
Securities News and Ta Kung
Granted Government Subsidies ww.cninfo.com.cn
Pao
VII. Financial Report
(I) Auditor’s report
Has this interim report been audited?
□ Yes √ No □ Inapplicable
41
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
(II) Financial statements
√Yes □No □ Inapplicable
The monetary unit in the financial statements of the financial report is RMB Yuan if not specified otherwise.
Monetary unit of notes to financial statements: RMB Yuan
1. Consolidated balance sheet
Prepared by BOE Technology Group Co., Ltd.
Unit: RMB Yuan
Item Note 30 Jun. 2012 31 Dec. 2011
Current Assets:
Monetary funds 15,575,508,881.00 20,325,469,116.00
Settlement reserves 0.00 0.00
Intra-group lendings 0.00 0.00
Transactional financial assets 0.00 0.00
Notes receivable 551,484,685.00 340,293,997.00
Accounts receivable 3,386,388,813.00 2,560,795,545.00
Accounts paid in advance 154,633,989.00 64,799,585.00
Premiums receivable 0.00 0.00
Reinsurance premiums receivable 0.00 0.00
Receivable reinsurance contract reserves 0.00 0.00
Interest receivable 46,241,459.00 105,243,519.00
Dividend receivable 0.00 0.00
Other accounts receivable 1,790,351,375.00 1,735,824,884.00
Financial assets purchased under
0.00 0.00
agreements to resell
Inventories 2,573,854,565.00 2,116,218,705.00
Non-current assets due within 1 year 0.00 0.00
Other current assets 2,369,304,313.00 696,796,503.00
Total current assets 26,447,768,080.00 27,945,441,854.00
Non-current assets:
Loans by mandate and advances granted 0.00 0.00
Available-for-sale financial assets 87,726,361.00 74,718,931.00
Held-to-maturity investments 0.00 0.00
Long-term accounts receivable 0.00 0.00
Long-term equity investment 946,293,066.00 958,879,205.00
42
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Investing property 1,318,606,167.00 1,340,984,989.00
Fixed assets 30,775,533,119.00 28,388,863,004.00
Construction in progress 5,752,763,007.00 8,412,921,608.00
Engineering materials 0.00 0.00
Disposal of fixed assets 0.00 0.00
Production biological assets 0.00 0.00
Oil-gas assets 0.00 0.00
Intangible assets 1,404,317,912.00 1,454,669,394.00
R&D expense 0.00 0.00
Goodwill 51,502,898.00 51,502,898.00
Long-term deferred expenses 233,867,070.00 22,860,526.00
Deferred income tax assets 49,166,758.00 47,892,088.00
Other non-current assets 248,702,690.00 70,681,149.00
Total of non-current assets 40,868,479,048.00 40,823,973,792.00
Total assets 67,316,247,128.00 68,769,415,646.00
Current liabilities:
Short-term borrowings 2,224,836,847.00 6,487,193,510.00
Borrowings from Central Bank 0.00 0.00
Customer bank deposits and due to banks
0.00 0.00
and other financial institutions
Intra-group borrowings 0.00 0.00
Transactional financial liabilities 0.00 0.00
Notes payable 30,627,813.00 27,918,268.00
Accounts payable 4,495,407,684.00 3,630,464,475.00
Accounts received in advance 417,560,487.00 186,069,735.00
Financial assets sold for repurchase 0.00 0.00
Handling charges and commissions payable 0.00 0.00
Employee’s compensation payable 319,282,739.00 368,442,775.00
Tax payable 32,327,394.00 47,338,545.00
Interest payable 120,424,129.00 110,964,115.00
Dividend payable 8,051,170.00 6,451,170.00
Other accounts payable 3,712,075,555.00 4,285,822,157.00
Reinsurance premiums payable 0.00 0.00
Insurance contract reserves 0.00 0.00
43
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Payables for acting trading of securities 0.00 0.00
Payables for acting underwriting of
0.00 0.00
securities
Non-current liabilities due within 1 year 1,834,719,878.00 1,716,776,716.00
Other current liabilities 52,108,874.00 88,652,956.00
Total current liabilities 13,247,422,570.00 16,956,094,422.00
Non-current liabilities:
Long-term borrowings 18,094,805,396.00 14,700,018,374.00
Bonds payable 0.00 0.00
Long-term payables 0.00 0.00
Specific payables 0.00 0.00
Estimated liabilities 30,080,844.00 30,080,844.00
Deferred income tax liabilities 410,958,274.00 414,561,354.00
Other non-current liabilities 1,552,328,495.00 1,623,176,746.00
Total non-current liabilities 20,088,173,009.00 16,767,837,318.00
Total liabilities 33,335,595,579.00 33,723,931,740.00
Owners’ equity (or shareholders’ equity)
Paid-up capital (or share capital) 13,521,542,341.00 13,521,542,341.00
Capital reserves 15,315,956,376.00 15,302,948,946.00
Less: Treasury stock 0.00 0.00
Specific reserves 0.00 0.00
Surplus reserves 499,092,613.00 499,092,613.00
Provisions for general risks 0.00 0.00
Retained profits -4,521,188,189.00 -3,734,305,993.00
Foreign exchange difference -2,318,881.00 -3,385,643.00
Total equity attributable to owners of the
24,813,084,260.00 25,585,892,264.00
Company
Minority interests 9,167,567,289.00 9,459,591,642.00
Total owners’ (or shareholders’) equity 33,980,651,549.00 35,045,483,906.00
Total liabilities and owners’ (or
67,316,247,128.00 68,769,415,646.00
shareholders’) equity
Legal representative: Mr. Wang Dongsheng Person-in-charge of the accounting work: Ms. Sun Yun
Chief of the accounting division: Ms. Yang Xiaoping
44
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
2. Balance sheet of the Company
Unit: RMB Yuan
Item Note 30 Jun. 2012 31 Dec. 2011
Current Assets:
Monetary funds 2,227,510,191.00 3,043,542,028.00
Transactional financial assets 0 0
Notes receivable 1,250,000.00 3,863,762.00
Accounts receivable 58,574,392.00 55,112,379.00
Accounts paid in advance 8,193,004.00 2,982,710.00
Interest receivable 6,682,038.00 9,141,082.00
Dividend receivable 10,404,147.00 8,204,147.00
Other accounts receivable 306,278,781.00 389,156,441.00
Inventories 1,642,996.00 1,306,051.00
Non-current assets due within 1
0 0
year
Other current assets 41,794,339.00 28,797,744.00
Total current assets 2,662,329,888.00 3,542,106,344.00
Non-current assets:
Available-for-sale financial assets 87,726,361.00 74,718,931.00
Held-to-maturity investments 0 0
Long-term accounts receivable 0 0
Long-term equity investment 27,643,980,498.00 27,656,535,260.00
Investing property 169,321,700.00 172,908,765.00
Fixed assets 371,543,034.00 393,096,085.00
Construction in progress 89,261,489.00 26,832,993.00
Engineering materials 0 0
Disposal of fixed assets 0 0
Production biological assets 0 0
Oil-gas assets 0 0
Intangible assets 99,317,549.00 99,478,210.00
R&D expense 0 0
Goodwill 0 0
Long-term deferred expenses 3,019,278.00 3,586,980.00
Deferred income tax assets 0 0
45
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Other non-current assets 5,768,029.00 4,457,280.00
Total of non-current assets 28,469,937,938.00 28,431,614,504.00
Total assets 31,132,267,826.00 31,973,720,848.00
Current liabilities:
Short-term borrowings 0 34,663,422.00
Transactional financial liabilities 0 0
Notes payable 0 0
Accounts payable 12,396,999.00 13,236,221.00
Accounts received in advance 290,500,449.00 287,038,716.00
Employee’s compensation
36,929,204.00 61,693,468.00
payable
Tax payable 15,641,719.00 21,739,121.00
Interest payable 0 1,088,911.00
Dividend payable 6,451,170.00 6,451,170.00
Other accounts payable 2,170,376,379.00 2,893,384,484.00
Non-current liabilities due within
50,000,000.00 100,000,000.00
1 year
Other current liabilities 0 0
Total current liabilities 2,582,295,920.00 3,419,295,513.00
Non-current liabilities:
Long-term borrowings 100,000,000.00 100,000,000.00
Bonds payable 0 0
Long-term payables 0 0
Specific payables 0 0
Estimated liabilities 0 0
Deferred income tax liabilities 0 0
Other non-current liabilities 42,993,323.00 60,063,972.00
Total non-current liabilities 142,993,323.00 160,063,972.00
Total liabilities 2,725,289,243.00 3,579,359,485.00
Owners’ equity (or shareholders’
equity)
Paid-up capital (or share capital) 13,521,542,341.00 13,521,542,341.00
Capital reserves 15,107,600,975.00 15,094,593,545.00
Less: Treasury stock 0 0
Specific reserves 0 0
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Surplus reserves 499,092,613.00 499,092,613.00
General risk provision 0 0
Retained profits -721,257,346.00 -720,867,136.00
Foreign exchange difference 0 0
Total owners’ (or shareholders’)
28,406,978,583.00 28,394,361,363.00
equity
Total liabilities and owners’ (or
31,132,267,826.00 31,973,720,848.00
shareholders’) equity
3. Consolidated income statement
Unit: RMB Yuan
Item Note Jan.-Jun. 2012 Jan.-Jun. 2011
I. Total operating revenues 9,608,882,013.00 4,940,033,997.00
Including: Sales income 9,608,882,013.00 4,940,033,997.00
Interest income 0 0
Premium income 0 0
Handling charge and
0 0
commission income
II. Total operating cost 10,831,568,433.00 6,326,899,814.00
Including: Cost of sales 9,502,396,703.00 5,344,717,781.00
Interest expenses 0 0
Handling charge and
0 0
commission expenses
Surrenders 0 0
Net claims paid 0 0
Net amount withdrawn for
0 0
the insurance contract reserve
Expenditure on policy
0 0
dividends
Reinsurance premium 0 0
Taxes and associate charges 15,264,131.00 10,971,045.00
Selling and distribution
254,457,109.00 169,760,957.00
expenses
Administrative expenses 950,037,835.00 817,952,938.00
Financial expenses 121,301,724.00 -75,281,816.00
Asset impairment loss -11,889,069.00 58,778,909.00
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Add: Gain/(loss) from change in fair
0.00 -8,670,137.00
value (―-‖ means loss)
Gain/(loss) from investment
-3,752,769.00 597,349.00
(―-‖ means loss)
Including: share of profits in
-5,766,868.00 -2,832,684.00
associates and joint ventures
Foreign exchange gains (―-‖ means
0 0
loss)
III. Business profit (―-‖ means loss) -1,226,439,189.00 -1,394,938,605.00
Add: non-operating income 160,092,355.00 73,239,677.00
Less: non-operating expense 2,506,337.00 7,549,088.00
Including: loss from non-current
1,598,969.00 6,907,321.00
asset disposal
IV. Total profit (―-‖ means loss) -1,068,853,171.00 -1,329,248,016.00
Less: Income tax expense 8,253,509.00 -2,709,700.00
V. Net profit (―-‖ means loss) -1,077,106,680.00 -1,326,538,316.00
Including: Net profit achieved
by combined parties before the 0.00 0.00
combinations
Attributable to owners of the
-786,882,196.00 -1,215,484,477.00
Company
Minority shareholders’ income -290,224,484.00 -111,053,839.00
VI. Earnings per share -- --
(I) Basic earnings per share -0.058 -0.09
(II) Diluted earnings per share -0.058 -0.09
Ⅶ. Other comprehensive incomes 14,074,192.00 -20,986,819.00
Ⅷ. Total comprehensive incomes -1,063,032,488.00 -1,347,525,135.00
Attributable to owners of the
-772,808,004.00 -1,236,471,296.00
Company
Attributable to minority
-290,224,484.00 -111,053,839.00
shareholders
Where business mergers under the same control occurred in this report period, the net profit achieved by the
merged parties before the business mergers was RMB 0.
Legal representative: Mr. Wang Dongsheng Person-in-charge of the accounting work: Ms. Sun Yun
Chief of the accounting division: Ms. Yang Xiaoping
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
4. Income statement of the Company
Unit: RMB Yuan
Item Note Jan.-Jun. 2012 Jan.-Jun. 2011
I. Total sales 170,706,040.00 91,857,703.00
Less: cost of sales 51,546,737.00 38,700,083.00
Business taxes and surcharges 4,066,025.00 2,247,936.00
Distribution expenses 4,206,680.00 44,121.00
Administrative expenses 166,584,372.00 145,296,254.00
Financial costs -47,647,828.00 -51,123,213.00
Impairment loss 295,830.00 153,695.00
Add: gain/(loss) from change in fair
0 0
value (―-‖ means loss)
Gain/(loss) from investment (―-‖
-1,521,393.00 697,296.00
means loss)
Including: income form investment
-5,735,492.00 -2,732,738.00
on associates and joint ventures
II. Business profit (―-‖ means loss) -9,867,169.00 -42,763,877.00
Add: non-business income 10,053,675.00 14,616,065.00
Less: non-business expense 576,716.00 180,556.00
Including: loss from non-current
576,716.00 180,556.00
asset disposal
III. Total profit (―-‖ means loss) -390,210.00 -28,328,368.00
Less: income tax expense 0 0
IV. Net profit (―-‖ means loss) -390,210.00 -28,328,368.00
V. Earnings per share -- --
(I) Basic earnings per share -0.00003 -0.0021
(II) Diluted earnings per share -0.00003 -0.0021
VI. Other comprehensive income 13,007,430.00 -21,300,944.00
VII. Total comprehensive income 12,617,220.00 -49,629,312.00
5. Consolidated cash flow statement
Unit: RMB Yuan
Item Jan.-Jun. 2012 Jan.-Jun. 2011
I. Cash flows from operating activities:
Cash received from sale of 8,437,761,719.00 3,944,504,377.00
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
commodities and rendering of service
Net increase of deposits from
0 0
customers and dues from banks
Net increase of loans from the central
0 0
bank
Net increase of funds borrowed from
0 0
other financial institutions
Cash received from premium of
0 0
original insurance contracts
Net cash received from reinsurance
0 0
business
Net increase of deposits of policy
0 0
holders and investment fund
Net increase of disposal of tradable
0 0
financial assets
Cash received from interest, handling
0 0
charges and commissions
Net increase of intra-group
0 0
borrowings
Net increase of funds in repurchase
0 0
business
Tax refunds received 145,153,216.00 236,511,314.00
Other cash received relating to
246,832,198.00 535,191,754.00
operating activities
Subtotal of cash inflows from operating
8,829,747,133.00 4,716,207,445.00
activities
Cash paid for goods and services 6,999,915,587.00 3,999,021,124.00
Net increase of customer lendings
0 0
and advances
Net increase of funds deposited in the
central bank and amount due from 0 0
banks
Cash for paying claims of the original
0 0
insurance contracts
Cash for paying interest, handling
0 0
charges and commissions
Cash for paying policy dividends 0 0
Cash paid to and for employees 1,008,017,259.00 683,572,295.00
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Various taxes paid 121,916,940.00 101,014,106.00
Other cash payment relating to
578,069,787.00 546,789,867.00
operating activities
Subtotal of cash outflows from
8,707,919,573.00 5,330,397,392.00
operating activities
Net cash flows from operating activities 121,827,560.00 -614,189,947.00
II. Cash flows from investing activities:
Cash received from withdrawal of
7,170,127.00 0
investments
Cash received from return on
1,669,314.00 3,430,033.00
investments
Net cash received from disposal of
fixed assets, intangible assets and other 2,038,815.00 1,054,188.00
long-term assets
Net cash received from disposal of
0 0
subsidiaries or other business units
Other cash received relating to
147,741,915.00 1,694,201,045.00
investing activities
Subtotal of cash inflows from
158,620,171.00 1,698,685,266.00
investing activities
Cash paid to acquire fixed assets,
intangible assets and other long-term 2,349,407,153.00 11,595,565,436.00
assets
Cash paid for investment 0 315,135,550.00
Net increase of pledged loans 0 0
Net cash paid to acquire subsidiaries
0 15,306,439.00
and other business units
Other cash payments relating to
7,367,347.00 6,403,063,351.00
investing activities
Subtotal of cash outflows from
2,356,774,500.00 18,329,070,776.00
investing activities
Net cash flows from investing activities -2,198,154,329.00 -16,630,385,510.00
III. Cash Flows from Financing
Activities:
Cash received from capital
0 0
contributions
Including: Cash received from
0 0
minority shareholder investments by
51
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
subsidiaries
Cash received from borrowings 6,111,806,234.00 13,076,509,060.00
Cash received from issuance of
0 0
bonds
Other cash received relating to
1,779,312,938.00 58,505,525.00
financing activities
Subtotal of cash inflows from financing
7,891,119,172.00 13,135,014,585.00
activities
Repayment of borrowings 7,111,042,789.00 3,657,302,209.00
Cash paid for interest expenses and
532,077,943.00 236,467,968.00
distribution of dividends or profit
Including: dividends or profit paid
0 0
by subsidiaries to minority shareholders
Other cash payments relating to
10,227,877.00 25,047,038.00
financing activities
Sub-total of cash outflows from
7,653,348,609.00 3,918,817,215.00
financing activities
Net cash flows from financing activities 237,770,563.00 9,216,197,370.00
IV. Effect of foreign exchange rate
18,124,469.00 3,915,256.00
changes on cash and cash equivalents
V. Net increase in cash and cash
-1,820,431,737.00 -8,024,462,831.00
equivalents
Add: Opening balance of cash and
12,959,533,670.00 19,097,948,638.00
cash equivalents
VI. Closing balance of cash and cash
11,139,101,933.00 11,073,485,807.00
equivalents
6. Cash flow statement of the Company
Unit: RMB Yuan
Item Jan.-Jun. 2012 Jan.-Jun. 2011
I. Cash flows from operating activities:
Cash received from sale of
62,089,359.00 34,094,945.00
commodities and rendering of service
Tax refunds received 0 141,215.00
Other cash received relating to
147,096,507.00 99,152,872.00
operating activities
Subtotal of cash inflows from operating 209,185,866.00 133,389,032.00
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
activities
Cash paid for goods and services 7,010,864.00 60,273,770.00
Cash paid to and for employees 131,694,825.00 77,032,973.00
Various taxes paid 15,012,233.00 21,512,453.00
Other cash payment relating to
714,260,562.00 123,680,010.00
operating activities
Subtotal of cash outflows from
867,978,484.00 282,499,206.00
operating activities
Net cash flows from operating activities -658,792,618.00 -149,110,174.00
II. Cash flows from investing activities:
Cash received from retraction of
7,170,027.00 0
investments
Cash received from return on
1,669,314.00 3,430,033.00
investments
Net cash received from disposal of
fixed assets, intangible assets and other 0 972,287.00
long-term assets
Net cash received from disposal of
0 20,000,000.00
subsidiaries or other business units
Other cash received relating to
42,788,163.00 64,117,692.00
investing activities
Subtotal of cash inflows from
51,627,504.00 88,520,012.00
investing activities
Cash paid to acquire fixed assets,
intangible assets and other long-term 81,918,256.00 24,953,787.00
assets
Cash paid for investment 0 8,975,135,550.00
Net cash paid to acquire subsidiaries
0 0
and other business units
Other cash payments relating to
0 0
investing activities
Subtotal of cash outflows from
81,918,256.00 9,000,089,337.00
investing activities
Net cash flows from investing activities -30,290,752.00 -8,911,569,325.00
III. Cash Flows from Financing
Activities:
Cash received from capital
0 0
contributions
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Cash received from borrowings 0 30,338,847.00
Cash received from issuance of
0
bonds
Other cash received relating to
41,642,000.00 17,878,000.00
financing activities
Subtotal of cash inflows from financing
41,642,000.00 48,216,847.00
activities
Repayment of borrowings 84,021,667.00 47,956,027.00
Cash paid for interest expenses and
1,315,665.00 1,349,289.00
distribution of dividends or profit
Other cash payments relating to
7,476,924.00
financing activities
Sub-total of cash outflows from
85,337,332.00 56,782,240.00
financing activities
Net cash flows from financing activities -43,695,332.00 -8,565,393.00
IV. Effect of foreign exchange rate
-2,356.00 4,473,829.00
changes on cash and cash equivalents
V. Net increase in cash and cash
-732,781,058.00 -9,064,771,063.00
equivalents
Add: Opening balance of cash and
2,951,867,533.00 11,478,796,269.00
cash equivalents
VI. Closing balance of cash and cash
2,219,086,475.00 2,414,025,206.00
equivalents
7. Consolidated statement of changes in owners’ equity
Reporting period
Unit: RMB Yuan
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Reporting period
Equity attributable to owners of the Company
Item Minority Total owners’
Less: General
Paid-up capital (or Specific
Capital reserve treasury Surplus reserve risk Retained profit Others interests equity
share capital) reserve
stock reserve
I. Balance at the end of the
13,521,542,341.00 15,302,948,946.00 - - 499,092,613.00 - -3,734,305,993.00 -3,385,643.00 9,459,591,642.00 35,045,483,906.00
previous year
Add: change of accounting
- - - - - - - - - -
policy
Correction of errors in
- - - - - - - - - -
previous periods
Other - - - - - - - - - -
II. Balance at the beginning of
13,521,542,341.00 15,302,948,946.00 - - 499,092,613.00 - -3,734,305,993.00 -3,385,643.00 9,459,591,642.00 35,045,483,906.00
the year
III. Increase/ decrease of amount
- 13,007,430.00 - - - - -786,882,196.00 1,066,762.00 -292,024,353.00 -1,064,832,357.00
in the year (―-‖ means decrease)
(I) Net profit - - - - - - -786,882,196.00 -290,224,484.00 -1,077,106,680.00
(II)Other comprehensive
- 13,007,430.00 - - - - - 1,066,762.00 131.00 14,074,323.00
incomes
Subtotal of (I) and (II) -- 13,007,430.00 - - - - -786,882,196.00 1,066,762.00 -290,224,353.00 -1,063,032,357.00
(III) Capital paid in and
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
reduced by owners
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
1. Capital paid in by owners - - - - - - - - - -
2. Amounts of share-based
payments recognized in owners’ - - - - - - - - - -
equity
3. Others - - - - - - - - - -
(IV)Profit distribution 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -1,800,000.00 -1,800,000.00
1. Appropriations to surplus
- - - - - - - - - -
reserves
2. Appropriations to general
- - - - - - - - - -
risk provisions
3. Appropriations to owners
- - - - - - - - -1,800,000.00 -1,800,000.00
(or shareholders)
4. Other - - - - - - - -
(V) Internal carry-forward of
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
owners’ equity
1. New increase of capital
(or share capital) from capital - - - - - - - - - -
public reserves
2. New increase of capital
(or share capital) from surplus - - - - - - - - - -
reserves
3. Surplus reserves for
- - - - - - - - - -
making up losses
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
4. Other - - - - - - - - - -
(Ⅵ) Specific reserve - - - - - - - - - 0.00
1. Withdrawn for the period - - - - - - - - - -
2. Used in the period - - - - - - - - - -
(Ⅶ) Other - - - - - - - - - -
IV. Closing balance 13,521,542,341.00 15,315,956,376.00 - - 499,092,613.00 - -4,521,188,189.00 -2,318,881.00 9,167,567,289.00 33,980,651,549.00
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Last year
Unit: RMB Yuan
Last year
Equity attributable to owners of the Company
Item Less: General Minority Total owners’
Paid-up capital (or Specific
Capital reserve treasury Surplus reserve risk Retained profit Others interests equity
share capital) reserve
stock reserve
I. Balance at the end of the previous
11,267,951,951.00 17,484,354,151.00 - - 499,092,613.00 - -4,295,172,470.00 -1,213,199.00 9,304,795,207.00 34,259,808,253.00
year
Add: retrospective adjustments due
to business combinations under the - - - - - - - - - -
same control
Add: change of accounting policy - - - - - - - - - -
Correction of errors in previous
- - - - - - - - - -
periods
Other - - - - - - - - - -
II. Balance at the beginning of the year 11,267,951,951.00 17,484,354,151.00 - - 499,092,613.00 - -4,295,172,470.00 -1,213,199.00 9,304,795,207.00 34,259,808,253.00
III. Increase/ decrease of amount in the
2,253,590,390.00 -2,181,405,205.00 - - - - 560,866,477.00 -2,172,444.00 154,796,435.00 785,675,653.00
year (―-‖ means decrease)
(I) Net profit - - - - - - 560,866,477.00 - 132,810,840.00 693,677,317.00
(II) Other comprehensive incomes - 72,185,185.00 - - - - - -2,172,444.00 -21,266,498.00 48,746,243.00
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Subtotal of (I) and (II) - 72,185,185.00 - - - - 560,866,477.00 -2,172,444.00 111,544,342.00 742,423,560.00
(III) Capital paid in and reduced by
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4,000,000.00 4,000,000.00
owners
1. Capital paid in by owners - - - - - - - - 4,000,000.00 4,000,000.00
2. Amounts of share-based
- - - - - - - - - -
payments recognized in owners’ equity
3. Others - - - - - - - - - -
(IV) Profit distribution 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
1. Appropriations to surplus
- - - - - - - - - -
reserves
2. Appropriations to general risk
- - - - - - - - - -
provisions
3. Appropriations to owners (or
- - - - - - - - - -
shareholders)
4. Other - - - - - - - - - -
(V) Internal carry-forward of
2,253,590,390.00 -2,253,590,390.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
owners’ equity
1. New increase of capital (or
share capital) from capital public 2,253,590,390.00 -2,253,590,390.00
reserves
2. New increase of capital (or
- - - - - - - - - -
share capital) from surplus reserves
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
3. Surplus reserves for making up
- - - - - - - - - -
losses
4. Other - - - - - - - - - -
(Ⅵ) Specific reserve - - - - - - - - - -
1. Withdrawn for the period - - - - - - - - - -
2. Used in the period - - - - - - - - - -
(Ⅶ) Other - - - - - - - - 39,252,093.00 39,252,093.00
IV. Closing balance 13,521,542,341.00 15,302,948,946.00 - - 499,092,613.00 - -3,734,305,993.00 -3,385,643.00 9,459,591,642.00 35,045,483,906.00
8. Statement of changes in owners’ equity of the Company
Reporting period
Unit: RMB Yuan
Reporting period
Less:
Item Paid-up capital (or Specific General Total owners’
Capital reserve treasury Surplus reserve Retained profit
share capital) reserve risk reserve equity
stock
I. Balance at the end of the previous
13,521,542,341.00 15,094,593,545.00 - - 499,092,613.00 - -720,867,136.00 28,394,361,363.00
year
Add: change of accounting policy - - - - - - - - - -
Correction of errors in previous
- - - - - - - - - -
periods
Other - - - - - - - - - -
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
II. Balance at the beginning of the
13,521,542,341.00 15,094,593,545.00 - - 499,092,613.00 - -720,867,136.00 28,394,361,363.00
year
III. Increase/ decrease of amount in
- 13,007,430.00 - - - - -390,210.00 12,617,220.00
the year (―-‖ means decrease)
(I) Net profit - - - - - - -390,210.00 -390,210.00
(II) Other comprehensive incomes - 13,007,430.00 - - - - - 13,007,430.00
Subtotal of (I) and (II) - 13,007,430.00 - - - - -390,210.00 12,617,220.00
(III) Capital paid in and reduced by
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
owners
1. Capital paid in by owners - - - - - - - - - -
2. Amounts of share-based
payments recognized in owners’ - - - - - - - - - -
equity
3. Others - - - - - - - - - -
(IV) Profit distribution 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
1. Appropriations to surplus
- - - - - - - - - -
reserves
2. Appropriations to general risk
- - - - - - - - - -
provisions
3. Appropriations to owners (or
- - - - - - - - - -
shareholders)
4. Other - - - - - - - - - -
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
(V) Internal carry-forward of
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
owners’ equity
1. New increase of capital (or
share capital) from capital public - - - - - - - - - -
reserves
2. New increase of capital (or
- - - - - - - - - -
share capital) from surplus reserves
3. Surplus reserves for making up
- - - - - - - - - -
losses
4. Other - - - - - - - - - -
(Ⅵ) Specific reserve - - - - - - - - - -
1. Withdrawn for the period - - - - - - - - - -
2. Used in the period - - - - - - - - - -
(Ⅶ) Other - - - - - - - - - -
IV. Closing balance 13,521,542,341.00 15,107,600,975.00 - - 499,092,613.00 - -721,257,346.00 28,406,978,583.00
Last year
Unit: RMB Yuan
Last year
Less:
Item Paid-up capital (or Specific General Total owners’
Capital reserve treasury Surplus reserve Retained profit
share capital) reserve risk reserve equity
stock
I. Balance at the end of the previous 11,267,951,951.00 17,297,265,248.00 - - 499,092,613.00 - -535,799,077.00 28,528,510,735.00
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
year
Add: change of accounting policy - - - - - - - - - -
Correction of errors in previous
- - - - - - - - - -
periods
Other - - - - - - - - - -
II. Balance at the beginning of the year 11,267,951,951.00 17,297,265,248.00 - - 499,092,613.00 - -535,799,077.00 28,528,510,735.00
III. Increase/ decrease of amount in the
2,253,590,390.00 -2,202,671,703.00 - - - - -185,068,059.00 -134,149,372.00
year (―-‖ means decrease)
(I) Net profit - - - - - - -185,068,059.00 -185,068,059.00
(II) Other comprehensive incomes - 50,918,687.00 - - - - - 50,918,687.00
Subtotal of (I) and (II) - 50,918,687.00 - - - - -185,068,059.00 -134,149,372.00
(III) Capital paid in and reduced by
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
owners
1. Capital paid in by owners - - - - - - - - - -
2. Amounts of share-based
payments recognized in owners’ - - - - - - - - - -
equity
3. Others - - - - - - - - - -
(IV) Profit distribution 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
1. Appropriations to surplus
- - - - - - - - - -
reserves
2. Appropriations to general risk - - - - - - - - - -
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
provisions
3. Appropriations to owners (or
- - - - - - - - - -
shareholders)
4. Other - - - - - - - - - -
(V) Internal carry-forward of
2,253,590,390.00 -2,253,590,390.00 0.00 0.00 0.00 0.00 0.00 0.00
owners’ equity
1. New increase of capital (or
share capital) from capital public 2,253,590,390.00 -2,253,590,390.00 - - - - - -
reserves
2. New increase of capital (or
- - - - - - - - - -
share capital) from surplus reserves
3. Surplus reserves for making up
- - - - - - - - - -
losses
4. Other - - - - - - - - - -
(Ⅵ) Specific reserve - - - - - - - - - -
1. Withdrawn for the period - - - - - - - - - -
2. Used in the period - - - - - - - - - -
(Ⅶ) Other - - - - - - - - - -
IV. Closing balance 13,521,542,341.00 15,094,593,545.00 - - 499,092,613.00 - -720,867,136.00 28,394,361,363.00
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
(III) Company profile
BOE Technology Group Company Limited (the ―Company‖) is a company limited by shares
established on 9 April 1993 at Beijing, with its head office located in Beijing. The parent of the
Company is Beijing Electronic Tube Factory (after ―debt-equity swap‖ restructuring converted to
―Beijing Orient Investment and Development Company Limited‖ (―BOID‖)). The Company’s
ultimate holding company is Beijing Electronics Holdings Co., Ltd. (―Electronics Holdings‖).
The Company was established with the approval of the Office of Economic Restructuring of
Beijing Municipality JTGBZ [1992] No. 22, founded by the former Beijing Electronic Tube
Factory as the main promoter by way of directional stock flotation. The former Beijing Electronic
Tube Factory transferred its related assets and liabilities to the Company. Such assets and
liabilities had been valued by the State-owned Assets Supervision and Administration Commission.
The Company used the revaluation amount as the initial value for Company’s accounting records.
As approved by the State Council Securities Commission through document ZWF [1997] No. 32,
the Company issued 115,000,000 B shares on 19 May 1997 at the Shenzhen Stock Exchange, with
a face value of RMB 1.00 each, getting listed on 10 June 1997 at the Shenzhen Stock Exchange.
As approved by the China Securities Regulatory Commission (―CSRC‖) through document
ZJGSZ [2000] No. 197, the Company issued 60,000,000 ordinary shares denominated in
Renminbi on 23 November 2000 at Shenzhen Stock Exchange, with a face value of RMB 1.00
each, getting listed on 12 January 2001 at the Shenzhen Stock Exchange.
As approved by the CSRC through document ZJFXZ [2004] No. 2, ―The Notice on approving
BOE Technology Group Company Limited’s Further Share Offering‖, the Company additionally
issued 316,400,000 B shares on 16 Jan 2004, with a face value of RMB 1.00 each and issuing
value of HKD 6.32, which raised capital amounting to HKD 1,999,648,000. After accounting for
all the relevant issuance fees, the B shares further offering raised capital of HKD 1,922,072,431
(RMB 2,048,160,383), with total share capital increasing to RMB 975,864,800.
Pursuant to the resolution approved by the 2003 Annual General Meeting held on 28 May 2004,
the Company implemented its plan of transferring capital reserve into share capital at the rate of
―5 shares for every 10 shares‖ to all shareholders in June 2004. Upon the completion of the
transfer, the Company’s total share capital increased to RMB 1,463,797,200.
Pursuant to the resolution passed by the 2005 First Special Shareholders’ General Meeting held on
5 July 2005, based on the total share capital of 1,463,797,200 shares as at 31 December 2004, the
Company transferred capital reserve into share capital at the rate of ―5 shares for every 10 share‖
to all shareholders on 19 July 2005. Upon completion of the transfer, the Company’s total share
capital increased to RMB 2,195,695,800.
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
In accordance with ―The Approval Notice on BOE’s State-owned Share Reform Plan‖ issued by
Stated-owned Assets Supervision and Administration Commission of Beijing Municipality
(JGZCQZ [2005] No. 119), the Company implemented its state-owned share reform plan agreed
by the shareholders on 24 November 2005. According to the plan, those registered tradable
RMB-denominated ordinary share shareholders on 29 November 2005 would receive 4.2 shares
for every 10 listed shares. This had contributed to the change in percentage of tradable and
non-tradable shares of the Company.
Pursuant to the 21st Session of the Forth Board of Directors and the Special Shareholders’ General
Meeting held on 18 April 2006 and 19 May 2006 respectively, and the approval from the CSRC
through document ZJFXZ [2006] No. 36, the Company issued 675,872,095 non-public targeted
ordinary shares (A shares) with face value of RMB 1. On 9 October 2006, the Company
completed shares registration and escrow in China Securities Depository and Clearing Corporation
Limited Shenzhen branch. Upon completion of the issuance, the Company’s total share capital
increased to RMB 2,871,567,895.
Pursuant to the Third Session of the Fifth Board of Directors and the 2007 Forth Special
Shareholders’ General Meeting held on 29 August 2007 and 26 September 2007 respectively, and
the approval from the CSRC through document ZJFXZ [2008] No. 587, the Company issued
411,334,552 non-public targeted RMB-denominated ordinary share with a face value of RMB 1.
On 16 July 2008, the Company completed shares registration and escrow in China Securities
Depository and Clearing Corporation Limited Shenzhen branch. Upon completion of the issuance,
the Company’s total share capital increased to RMB 3,282,902,447.
Pursuant to the 17th Session of the Fifth Board of Directors and the 2008 Second Special General
Meeting held on 7 November 2008 and 25 November 2008 respectively, and approval from the
CSRC through document ZJFXZ [2009] No. 369, the Company issued 5,000,000,000 non-public
targeted RMB-denominated ordinary share with a face value of RMB 1. On 4 June 2009, the
Company completed shares registration and escrow in China Securities Depository and Clearing
Corporation Limited Shenzhen branch. Upon completion of the issuance, the Company’s total
share capital increased to RMB 8,282,902,447. The Company revised its Articles of Association
on June 2009, and obtained the renewed the business license as legal person with No.
110000005012597 on 7 August 2009.
Pursuant to the Second Session of the Sixth Board of Directors and the 2010 Second Special
Shareholders’ General Meeting held on 21 Jul. 2010 as well as approval from the CSRC through
document ZJFXZ [2010]1324 No. 1324, the Company issued 2,985,049,504 non-public targeted
RMB-denominated ordinary share with a face value of RMB 1. On 7 Dec. 2010, the Company
completed shares registration and escrow in China Securities Depository and Clearing Corporation
Limited Shenzhen branch. Upon completion of the issuance, the Company’s total share capital
increased to RMB 11,267,951,951.
Pursuant to the Eighth Session of the Sixth Board of Directors held on 22 Apr. 2011 and the 2010
Shareholders’ General Meeting held on 30 May 2011, basing on the total share capital of
11,267,951,951 up to 31 Dec. 2010, the Company implemented its plan of transferring capital
reserve into share capital at the rate of ―2 shares for every 10 shares‖ to all shareholders in Jun.
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
2011. Upon the completion of the transfer, the Company’s total share capital increased to RMB
13,521,542,341.
The Company and its subsidiaries (―the Group‖) comprise four main business segments on a
worldwide basis: TFT-LCD business, display light source products business, display system
products business and other business. Other business includes precision parts and materials
business, PV business and office property lease business, etc.
(Ⅳ) Main accounting policies, accounting estimates and corrections of prior
accounting errors
1. Basis for preparation of financial statements
The financial statements have been prepared on the basis of going concern.
2. Statement of compliance with Corporate Accounting Standards
The financial statements have been prepared in accordance with the requirements of ―Accounting
Standards for Business Enterprises—Basic Standard‖ and 38 Specific Standards issued by the
Ministry of Finance (MOF) on 15 February 2006, and application guidance, bulletins and other
relevant accounting regulations issued subsequently (collectively referred to as ―Accounting
Standards for Business Enterprises‖ or ―CAS‖). These financial statements present truly and
completely the consolidated financial position and financial position as of 30 Jun. 2012, the
consolidated results of operations and results of operations and the consolidated cash flows and
cash flows in the first half year of 2012 of the Company. These financial statements also comply
with the disclosure requirements of ―Regulation on the Preparation of Information Disclosures of
Companies Issuing Public Shares, No. 15: General Requirements for Financial Reports‖ as revised
by the China Securities Regulatory Commission (hereinafter referred to as ―CSRC‖) in 2010.
3. Accounting period
The accounting year of the Group is from 1 January to 31 December.
4. Functional currency
The Company’s functional currency is renminbi. These financial statements are presented in
renminbi. The basis of choosing the functional currency for the Company and its subsidiaries is
that it’s the pricing and settlement currency for the main business. The Company translates the
financial statements of subsidiaries from their respective functional currencies into renminbi if the
subsidiaries’ functional currencies are not renminbi.
Functional currency of overseas subsidiaries:
The overseas subsidiaries adopt the currency in its main operating environment as the functional
currency, and then translate the financial statements from their respective functional currencies
into renminbi while preparing the financial statements.
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
5. Accounting treatments for a business combination involving entities under and those not
under common control
(1) Business combination involving entities under common control
A business combination involving enterprises under common control is a business combination in
which all of the combining enterprises are ultimately controlled by the same party or parties both
before and after the business combination, and that control is not transitory. The assets and
liabilities obtained are measured at the carrying amounts as recorded by the enterprise being
combined at the combination date. The difference between the carrying amount of the net assets
obtained and the carrying amount of consideration paid for the combination (or the total face value
of shares issued) is adjusted to share premium in the capital reserve. If the balance of share
premium is insufficient, any excess is adjusted to retained earnings. Other direct expenses occur
when the Group conducting business combinations is recognised in current profit and loss. The
combination date is the date on which one combining enterprise effectively obtains control of the
other combining enterprises.
(2) Business combinations involving entities not under common control
A business combination involving entities not under common control is a business combination in
which all of the combining entities are not ultimately controlled by the same party or parties both
before and after the business combination. When the Group acts as the combination party, the cost
of a business combination paid by the acquirer is the aggregate of the fair value at the acquisition
date of assets given (including share equity of the acquiree held before the combination date),
liabilities incurred or assumed, and equity securities issued by the acquirer. Any excess of the cost
of a business combination over the acquirer’s interest in the fair value of the acquiree’s identifiable
net assets is recognised as goodwill, while any excess of the acquirer’s interest in the fair value of
the acquiree’s identifiable net assets over the cost of a business combination is recognised in profit
or loss. The cost of equity securities or liability securities as on combination consideration offering
is recognised in initial recording capital on equity securities or liability securities. Other direct
expenses occur when the Group conducting business combinations is recognised in current profit
and loss. The difference between the fair value and the carrying amount of the assets given is
recognised in profit or loss. The Group, at the acquisition date, recognized the acquiree’s
identifiable asset, liabilities and contingent liabilities at their fair value at that date. The acquisition
date is the date on which the acquirer effectively obtains control of the acquiree.
6. Preparation methods for consolidated financial statements
(1) Preparation methods for consolidated financial statements
The scope of consolidated financial statements is determined on the base of control, which
comprise the Company and its subsidiaries. Control is the power to govern the financial and
operating policies of an entity so as to obtain benefits from its operating activities. The financial
status, operating results and cash flow of subsidiaries are included in the consolidated financial
statements from the date that control commences until the date that control ceases.
Where a subsidiary was acquired during the reporting period, through a business combination
involving entities under common control, the financial statements of the subsidiary are included in
the consolidated financial statements as if the combination had occurred at the date that common
control was established. Therefore the opening balances and the comparative figures of the
consolidated financial statements are restated. In the preparation of the consolidated financial
statements, the subsidiary’s assets, liabilities and results of operations are included in the
consolidated balance sheet based on their carrying amounts; while results of operations are
included in the consolidated income statement, from the date that common control was
established.
Where a subsidiary was acquired during the reporting period, through a business combination
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
involving entities not under common control, when prepared the consolidated financial statements,
the Company shall included the acquired subsidiaries into the consolidated scope from the
acquisition date basing on the fair value of the identifiable assets, liabilities at the acquisition date.
Where a business combination involving entities not under common control was realized through
two or more transactions and by several steps, for equity held by acquiree before the acquisition
date, the Group will re-account the equity according to fair value at the acquisition date and the
difference between the fair value and its carrying value is recognized as investment income. If the
said equity is involving in other comprehensive income, other relevant comprehensive income is
transferred into investment income at the acquisition date.
Where the Company acquires a minority interest from a subsidiary’s minority shareholders or
disposes of a portion of an interest in a subsidiary without a change in control, the difference
between the amount by which the minority interests are adjusted and the amount of the
consideration paid or received is adjusted to the capital reserve (share premium) in the
consolidated balance sheet. If the credit balance of capital reserve (share premium) is insufficient,
any excess is adjusted to retained earnings.
Where the control of former subsidiary was lost for disposal of part of equity investment or other
reasons, the Group terminated to recognize the assets, liabilities, minority interest and other items
of equities relevant to the subsidiary. As for remaining equity investment after disposal, the Group
will re-account it according to the fair value at the date the control was lost. Any profit or loss
occurred shall be recorded into the investment income during the period of losing control right.
Equity, profit or loss attributable to minority shareholders is presented separately under the item of
shareholders’ equity in consolidated income statement and the net profits in the consolidated
income statement.
If current loss shoulder by minority shareholders of a subsidy over the proportion enjoyed by
minority shareholders in a subsidy at owners’ equity at period-begin, its balance still offset
minority shareholders’ equity.
When the accounting period or accounting policies of a subsidiary are different from those of the
Company, the Company makes necessary adjustments to the financial statements of the subsidiary
based on the Company’s own accounting period or accounting policies. Intra-group balances and
transactions, and any unrealized profit or loss arising from intra-group transactions, are eliminated
in preparing the consolidated financial statements. Unrealized losses resulting from intra-group
transactions are eliminated in the same way as unrealized gains but only to the extent that there is
no evidence of impairment.
(2) As for the event about purchasing and then selling (or selling and then purchasing) equities of
the same subsidiary, the Company shall disclose relevant accounting treatment methods.
7. Standards in recognizing cash and cash equivalents
Cash and cash equivalents comprise cash on hand, demand deposits, and short-term, highly liquid
investments, which are readily convertible into known amounts of cash and are subject to an
insignificant risk of change in value.
8. Foreign currency and accounting method for foreign currency
(1) Foreign currency business
When the Group receives capital in foreign currencies from investors, the capital is translated to
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
renminbi at the spot exchange rate at the date of the receipt. Other foreign currency transactions
are, on initial recognition, translated to renminbi at the spot exchange rates at the dates of the
transactions.
A spot exchange rate is an exchange rate quoted by the People’s Bank of China, the State
Administration of Foreign Exchanges or a cross rate determined based on quoted exchange rates.
A rate that approximates the spot exchange rate is a rate determined under a systematic and
rational method, normally the average exchange rate of the current period or the weighted average
exchange rate.
Monetary items denominated in foreign currencies are translated to renminbi at the spot exchange
rate at the balance sheet date. The resulting exchange differences are recognised in profit or loss,
except those arising from the principals and interests on foreign currency borrowings specifically
for the purpose of acquisition, construction of qualifying assets. Non-monetary items denominated
in foreign currencies that are measured at historical cost are translated to renminbi using the
foreign exchange rate at the transaction date. Non-monetary items denominated in foreign
currencies that are measured at fair value are translated using the foreign exchange rate at the date
the fair value is determined; the exchange differences, if it’s the difference arising from the
non-monetary item of available-for-sale financial assets, which shall be considered as other
comprehensive income and recognised in capital reserve; other differences shall be recognised in
current profit or loss.
(2) Translations of financial statements in foreign currencies
The assets and liabilities of foreign operation are translated to renminbi at the spot exchange rate
at the balance sheet date. The equity items, excluding ―Retained earning‖, are translated to
renminbi at the spot exchange rates at the transaction dates. The income and expenses of foreign
operation are translated to renminbi at rates that approximate the spot exchange rates at the
transaction dates. The resulting exchange differences are recognised in a separate component of
equity. Upon disposal of a foreign operation, the cumulative amount of the exchange differences
recognised in equity which relates to that foreign operation is transferred to profit or loss in the
period in which the disposal occurs.
9. Financial instruments
(1) Category of financial instruments
Financial instruments comprise monetary funds, bonds investment, equity investment other than
long-term equity investment (see Note VIII (IV) 12), receivables, payables, borrowings and share
capital, etc..
(2) Recognition and measurement of financial instruments
A financial asset or financial liability is recognised in the balance sheet when the Group becomes a
party to the contractual provisions of a financial instrument.
The Group classifies financial assets and liabilities into different categories at initial recognition
based on the purpose of acquiring assets or assuming liabilities: financial assets and financial
liabilities at fair value through profit or loss, loans and receivables, held-to-maturity investments,
available-for-sale financial assets and other financial liabilities.
Financial assets and liabilities are measured initially at fair value. For financial assets and
liabilities at fair value through profit or loss, any directly attributable transaction costs are charged
to profit or loss; for other categories of financial assets and financial liabilities, any attributed
transaction costs are included in their initial costs. Subsequent to initial recognition financial
assets and liabilities are measured as follows:
– Financial assets and financial liabilities at fair value through profit or loss (including financial
assets or financial liabilities held for trading)
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
A financial asset or financial liability held by the Group is classified as at fair value through profit
or loss if it is acquired or incurred principally for the purpose of selling or repurchasing it in the
near term or if it is a derivative.
Subsequent to initial recognition, financial assets and financial liabilities at fair value through
profit or loss are measured at fair value, and changes therein are recognised in profit or loss.
– Receivables
Receivables are non-derivative financial assets with fixed or determinable payments that are not
quoted in an active market.
Subsequent to initial recognition, receivables are subsequently stated at amortized cost using the
effective interest method.
– Held-to-maturity investments
Held-to-maturity investments are non-derivative financial assets with fixed or determinable
payments and fixed maturity that the Group has the positive intention and ability to hold to
maturity.
Subsequent to initial recognition, held-to-maturity investments are stated at amortized cost using
the effective interest method.
– Available-for-sale financial assets
Available-for-sale financial assets include non-derivative financial assets that are designated upon
initial recognition as available for sale and other financial assets which do not fall into any of the
above categories.
As for the available-for-sale financial assets whose fair value cannot be reliably measured is
measured at cost subsequent to initial recognition; except that, subsequent to initial recognition,
other available-for-sale financial assets are measured at fair value and changes therein, except for
impairment losses and foreign exchange gains and losses from monetary financial assets, which
are recognised directly in profit or loss, are considered as other comprehensive income to be
recognised directly in capital reserves. When an investment is derecognised, the cumulative gain
or loss in equity is removed from equity and recognised in profit or loss. Dividend income from
these equity instruments is recognised in profit or loss when the investee declares the dividends.
Interest on available-for-sale financial assets calculated using the effective interest method is
recognised in profit or loss.
– Other financial liabilities
Financial liabilities other than the financial liabilities at fair value through profit or loss are
classified as other financial liabilities.
Other financial liabilities include the liabilities arising from financial guarantee contracts.
Financial guarantees are contracts that require the issuer (i.e. the guarantor) to make specified
payments to reimburse the beneficiary of the guarantee (the holder) for a loss the holder incurs
because a specified debtor fails to make payment when due, in accordance with the terms of a debt
instrument. Where the Group issues a financial guarantee, subsequent to initial recognition, the
guarantee is measured at the higher of the amount initially recognised less accumulated
amortisation and the amount of a provision determined in accordance with the principles of
contingent liabilities.
Except for the liabilities arising from financial guarantee contracts described above, subsequent to
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
initial recognition, other financial liabilities are measured at amortized cost using the effective
interest method.
(3) Recognition and accounting method for transfer of financial assets
A financial asset is derecognised if the Group’s contractual rights to the cash flows from the
financial asset expire or if the Group transfers substantially all the risks and rewards of ownership
of the financial asset to another party.
Where a transfer of a financial asset in its entirety meets the criteria of the derecognition, the
difference between the two amounts below is recognised in profit or loss:
– carrying amount of the financial asset transferred
– the sum of the consideration received from the transfer and any cumulative gain or loss that has
been recognised directly in equity.
(4) Derecognition conditions of financial liabilities
The Group derecognises a financial liability (or part of it) only when the underlying present
obligation (or part of it) is discharged.
(5) Recognition method for fair value of financial assets and financial liabilities
As for a financial asset or financial liability with an active market, the Company determined its
fair value by the quoted price in the active market.
If no active market exists for a financial instrument, a valuation technique is used to establish the
fair value. Valuation techniques include using recent arm’s length market transactions between
knowledgeable, willing parties; reference to the current fair value of another instrument that is
substantially the same; or discounted cash flow analysis and option pricing models. The Group
calibrates its valuation technique and tests it for validity periodically.
(6) Withdrawal of impairment provision for financial assets (excluding accounts receivable)
The carrying amounts of financial assets (other than those at fair value through profit or loss) are
reviewed at each balance sheet date to determine whether there is objective evidence of
impairment.
Objective evidence of impairment includes but not is limited to the followings:
(a) A serious financial difficulty occurs to the issuer or debtor;
(b) The debtor breaches any of the contractual stipulations, for example, fails to pay or delays the
payment of interests or the principal, etc.;
(c) The debtor will probably become bankrupt or carry out other financial reorganizations;
(d) The financial asset can no longer continue to be traded in the active market due to serious
financial difficulties of the issuer;
(e) Any seriously disadvantageous change has occurred to technical, market, economic or legal
environment, etc. wherein the issuer of instruments operates its business, which makes the
investor of an equity instrument unable to take back its investment;
(f) Where the fair value of the equity instrument investment drops significantly or not
contemporarily;
– Held-to-maturity investments
Held-to-maturity investments are assessed for impairment on an individual basis. An impairment
loss in respect of a held-to-maturity investment is calculated as the excess of its carrying amount
over the present value of the estimated future cash flows (exclusive of future credit losses that
have not been incurred) discounted at the original effective interest rate. All impairment losses are
recognised in profit or loss.
If, after an impairment loss has been recognised on held-to-maturity investments, there is
objective evidence of a recovery in value of the financial asset which can be related objectively to
an event occurring after the impairment was recognised, the previously recognised impairment
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
loss is reversed through profit or loss. The reversed carrying amount shall not be any more than
the post-amortization costs of the said financial asset on the day of reverse under the assumption
that no provision is made for the impairment.
– Available-for-sale financial assets
Available-for-sale financial assets are assessed for impairment on an individual basis. When an
available-for-sale financial asset is impaired, the cumulative loss arising from a decline in fair
value that has been recognised directly in equity is removed from equity and recognised in profit
or loss even though the financial asset has not been derecognised.
If, after an impairment loss has been recognised on an available-for-sale debt instrument, the fair
value of the debt instrument increases in a subsequent period and the increase can be objectively
related to an event occurring after the impairment loss was recognised, the impairment loss is
reversed through profit or loss. An impairment loss recognised for an investment in an equity
instrument classified as available-for-sale is not reversed through profit or loss.
(7) As for event about reclassifying the undue held-to-maturity investment into available-for-sale
financial assets, the Company shall state the basis of changes in holding purpose or ability
Naught
10. Recognition criteria and withdrawal methods for bad debts provision of accounts
receivable
Receivables are assessed for impairment both on an individual basis and on a collective group
basis.
Where impairment is assessed on an individual basis, an impairment loss in respect of a receivable
is calculated as the excess of its carrying amount over the present value of the estimated future
cash flows (exclusive of future credit losses that have not been incurred) discounted at the original
effective interest rate. All impairment losses are recognised in profit or loss.
The assessment is made collectively where receivables share similar credit risk characteristics
(including those having not been individually assessed as impaired), based on their historical loss
experiences, and adjusted by the observable figures reflecting present economic conditions.
If, after an impairment loss has been recognised on receivables, there is objective evidence of a
recovery in value of the financial asset which can be related objectively to an event occurring after
the impairment was recognised, the previously recognised impairment loss is reversed through
profit or loss. The reversed carrying amount shall not be any more than the post-amortization costs
of the said financial asset on the day of reverse under the assumption that no provision is made for
the impairment.
(1) Bad debt provision for individually significant accounts receivable
Judgement basis or monetary standards of
provision for bad debts of the individually 5% of the balance of such account
significant accounts receivable
On balance sheet day, the impairment test is
carried on individually for the individually
Method of individual provision for bad debts of
significant receivables; if it is impaired after the
the individually significant accounts receivable
impairment test, the Company provides
provision for impairment loss for the amount
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
which is measured as the difference between
the asset's carrying amount and the present
value of estimated future cash flows, and
withdraws relevant bad debt provision.
(2) Accounts receivable for which bad debt provisions are made on the group basis
Withdrawal method of
Name of group bad debt provision on Recognition basis of group
the group basis
Other current account Other method With the same credit risk characteristics
In the groups, adopting aging analysis method to withdraw bad debt provision:
□ Applicable √Inapplicable
In the groups, adopting balance percentage method to withdraw bad debt provision
□ Applicable √Inapplicable
In the groups, adopting other methods to withdraw bad debt provision
□ Applicable √Inapplicable
(3) Accounts receivable with an insignificant single amount but for which the bad debt provision
is made individually
Reason of individually withdrawing bad debt provision:
It refers to the receivables with the closing individual amount not reaching the monetary standards
for the above said ―accounts receivable with significant amount‖. On balance sheet day, the
impairment test is carried on individually for the individually insignificant receivables; if it is
impaired after the impairment test, the Company provides provision for impairment loss for the
amount which is measured as the difference between the asset's carrying amount and the present
value of estimated future cash flows, and withdraws relevant bad debt provision.
Withdrawal method for bad debt provision:
The Company provides provision for impairment loss for the amount which is measured as the
difference between the asset's carrying amount and the present value of estimated future cash
flows, and withdraws relevant bad debt provision.
11. Inventories
(1) Classification
Inventories include raw materials, work in progress, finished goods and reusable materials.
Reusable materials include low-value consumables, packaging materials and other materials,
which can be used repeatedly but do not meet the definition of fixed assets.
(2) Pricing method for outgoing inventories
□ First-in first-out method √ Weighted average method □ Specific identification method □ Other
Cost of inventories is calculated using the weighted average method.
(3) Recognition basis of net realizable value and withdrawal method of depreciation reserves for
inventories
Inventories are initially measured by the cost. Cost of inventories comprises all costs of purchase,
costs of conversion and other costs. Inventories are initially measured at their actual cost. In
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addition to the purchasing cost of raw materials, work in progress and finished goods include
direct labor costs and an appropriate allocation of production overheads.
On the balance sheet day, inventories are carried at the lower of cost and net realizable value.
Net realizable value is the estimated selling price in the normal course of business less the
estimated costs to completion and the estimated expenses and related taxes necessary to make the
sale. The net realizable value of materials held for use in the production of inventories is measured
based on the net realizable value of the finished goods in which they will be incorporated. The net
realizable value of the quantity of inventory held to satisfy sales or service contracts is based on
the contract price. If the quantities of inventories specified in sales contracts are less than the
quantities held by the Group, the net realizable value of the excess portion of inventories shall be
based on general selling prices.
Any excess of the cost over the net realizable value of each class of inventories is recognised as a
provision for diminution in the value of inventories, and then recorded into current profit or loss.
(4) Inventory system for inventories:
√ Perpetual inventory system □ Periodic inventory system □ Other
The Group maintains a perpetual inventory system.
(5) Amortization method of the low-value consumption goods and packing articles
Low-value consumption goods
Amortisation method: one-off amortization method
The low-value consumption goods adopt one-off amortization method, and recorded into the costs
or current profit or loss of relevant assets.
Packing articles
Amortisation method: one-off amortization method
The packing articles adopt one-off amortization method, and recorded into the costs or current
profit or loss of relevant assets.
12. Long-term equity investments
(1) Recognition of initial investment cost
(a) Long-term equity investments acquired through a business combination
– The initial investment cost of a long-term equity investment obtained through a business
combination involving entities under common control is the Company’s share of the subsidiary’s
equity at the combination date. The difference between the initial investment cost and the carrying
amounts of the consideration given is adjusted to share premium in capital reserve. If the balance
of the share premium is insufficient, any excess is adjusted to retained earnings.
– For other long-term equity investment obtained through entities not under common control, the
fair values, on the acquisition date, of the assets given, the liabilities incurred or assumed and the
equity securities issued by the acquirer in exchange for the control on the acquiree shall be
recognized as initial investment cost of the long-term equity investment. For long-term equity
investment obtained through a business combination involving entities not under common control
by two or more transactions and by several steps, the initial investment cost is recognized as the
aggregation of the carrying value of acquirees’ equity investment before the acquisition date held
by the Company and newly investment cost at the acquisition date.
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(b) Long-term equity investments acquired otherwise than through a business combination
– An investment in a subsidiary acquired otherwise than through a business combination is
initially recognised at initial investment cost if the Group acquires the investment by cash, or at
the fair value of the equity securities issued if an investment is acquired by issuing equity
securities, or at the value stipulated in the investment contract or agreement if an investment is
contributed by shareholders.
(2) Subsequent measurement and recognition of profits or losses
(a) Investments in subsidiaries
In the Company’s financial statements, investments in subsidiaries are accounted for using the cost
method. Cash dividends or profit distributions declared by subsidiaries and attributed to the
Company shall be recognised as investment income, without dividing whether it’s the net profit
realized by the investee before the investment or after the investment, except those that have been
declared but unpaid at the time of acquisition and therefore included in the price paid or
consideration. The investments are stated at cost less impairment losses in the balance sheet.
In the Group’s consolidated financial statements, investments in subsidiaries are accounted for in
accordance with the principles described in Note VIII (IV) 6.
(b) Investment in jointly controlled enterprises and associates
A jointly controlled enterprise is an enterprise which operates under joint control (see Note VIII
(IV) 12 (3)) in accordance with a contractual agreement between the Group and other parties.
An associate is an enterprise over which the Group has significant influence (see Note VIII (IV)
12 (3)).
Upon the subsequent measurement, an investment in a jointly controlled enterprise or an associate
is accounted for using the equity method, unless the investment is classified as held for sale.
The Group makes the following accounting treatments when using the equity method:
– Where the initial investment cost of a long-term equity investment exceeds the Group’s interest
in the fair value of the investee’s identifiable net assets at the date of acquisition, the investment is
initially recognised at the initial investment cost. Where the initial investment cost is less than
the Group’s interest in the fair value of the investee’s identifiable net assets at the date of
acquisition, the investment is initially recognised at the investor’s share of the fair value of the
investee’s identifiable net assets, and the difference is charged to profit or loss.
– After the acquisition of the investment, the Group recognizes its share of the investee’s net
profits or losses after deducting the amortisation of the debit balance of equity investment
difference, which was recognised by the Group before the first-time adoption of CAS, as
investment income or losses, and adjusts the carrying amount of the investment accordingly. The
debit balance of the equity investment difference is amortized using the straight-line method over
a period which is determined in accordance with previous accounting standards. Once the
investee declares any cash dividends or profits distributions, the carrying amount of the
investment is reduced by that attributable to the Group.
The Group recognizes its share of the investee’s net profits or losses after making appropriate
adjustments to align the accounting policies or accounting periods with those of the Group based
on the fair values of the investee’s identifiable net assets at the date of acquisition. Unrealised
profits and losses resulting from transactions between the Group and its associates or jointly
controlled enterprises are eliminated to the extent of the Group’s interest in the associates or
jointly controlled enterprises. Unrealised losses resulting from transactions between the Group
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and its associates or jointly controlled enterprises are eliminated in the same way as unrealised
gains but only to the extent that there is no evidence of impairment.
– The Group discontinues recognising its share of net losses of the investee after the carrying
amount of the long-term equity investment and any long-term interest that in substance forms part
of the Group’s net investment in the associate or the jointly controlled enterprise is reduced to zero,
except to the extent that the Group has an obligation to assume additional losses. Where net profits
are subsequently made by the associate or jointly controlled enterprise, the Group resumes
recognising its share of those profits only after its share of the profits equals the share of losses not
recognised.
(3) The basis for determination of joint control or significant influence over investee enterprise
Joint control is the contractually agreed sharing of control over an investee’s economic activity,
and exists only when the strategic financial and operating decisions relating to the activity require
the unanimous consent of the parties sharing the control. The following evidences shall be
considered when determining whether the Group can exercise joint control over an investee:
● no single venturer is in a position to control the operating activities unilaterally;
●operating decisions relating to the investee’s economic activity require the unanimous consent of
the parties sharing control;
● if the parties sharing control appoint one venturer as the operator or manager of the joint venture
through the contractual arrangement, the operator must act within the financial and operating
policies that have been agreed by the venturers in accordance with the contractual arrangement.
Significant influence is the power to participate in the financial and operating policy decisions of
an investee but is not control or joint control over those policies. The following one or more
evidences shall be considered when determining whether the Group can exercise significant
influence over an investee:
representation on the board of directors or equivalent governing body of the investee;
participation in policy-making processes, including participation in decisions about dividends
or other distributions;
material transactions between the investor and the investee;
interchange of managerial personnel; or
provision of essential technical information.
(4) Impairment test and method of provision for impairment loss
If any indication exists that an asset may be impaired, the recoverable amount of the asset is
estimated. The recoverable amount of an asset, asset group or set of asset groups is the higher of
its fair value less costs to sell and its present value of expected future cash flows. An asset group is
the smallest identifiable group of assets that generates cash inflows that are largely independent of
the cash inflows from other assets or asset groups. An asset group is composed of assets directly
relating to cash-generation. Identification of an asset group is based on whether major cash
inflows generated by the asset group are largely independent of the cash inflows from other assets
or asset groups. In identifying an asset group, the Group also considers how management monitors
the Group’s operations and how management makes decisions about continuing or disposing of
the Group’s assets.
An asset’s fair value less costs to sell is the amount determined by the price of a sale agreement in
an arm’s length transaction, less the costs that are directly attributable to the disposal of the asset.
The present value of expected future cash flows of an asset is determined by discounting future
cash flows, estimated to be derived from continuing use of the asset and from its ultimate disposal,
to their present value using a pre-tax discount rate that reflects current market assessments of the
time value of money and the risks specific to the asset.
If the result of the recoverable amount calculation indicates that the recoverable amount of an
asset is less than its carrying amount, the carrying amount of the asset is reduced to its recoverable
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amount. That reduction is recognised as an impairment loss and charged to profit or loss for the
current period. A provision for impairment loss of the asset is recognised accordingly. For
impairment losses related to an asset group or a set of asset groups, first reduce the carrying
amount of any goodwill allocated to the asset group or set of asset groups, and then reduce the
carrying amount of the other assets in the asset group or set of asset groups on a pro rata basis.
However, the carrying amount of an impaired asset will not be reduced below the highest of its
individual fair value less costs to sell (if determinable), the present value of expected future cash
flows (if determinable) and zero.
Once an impairment loss is recognised, its is not reserved in a subsequent period.
For other long-term equity investments, the carrying amount is required to be tested for
impairment at the balance sheet date. If there is objective evidence that the investments may be
impaired, the impairment shall be assessed on an individual basis. The impairment loss is
measured as the amount by which the carrying amount of the investment exceeds the present value
of estimated future cash flows discounted at the current market rate of return for a similar financial
asset. Such impairment losses are not reversed. The other long-term equity investments are
stated at cost less impairment losses in the balance sheet.
13. Investment property
An investment property is a property held either to earn rental income or for capital appreciation
or both. Investment property is accounted for using the cost model and stated in the balance sheet
at cost less accumulated depreciation, amortisation and impairment loss. Investment property is
depreciated or amortized using the straight-line method over its estimated useful life, unless the
investment property is classified as held for sale (see Note VIII (IV) 29).
The useful lives and estimated residual values as well as annual depreciation rate of each class of
investment property are as follows:
Useful life Residual value Annual
(years) rate (%) depreciation rate
(%)
Buildings 25 -35 years 3%-10% 2.6%-3.9%
Land use rights 32 -50 years 0% 2%-3.1%
If any indication exists that an asset may be impaired, the recoverable amount of the asset is
estimated. The recoverable amount of an asset, asset group or set of asset groups is the higher of
its fair value less costs to sell and its present value of expected future cash flows. An asset group is
the smallest identifiable group of assets that generates cash inflows that are largely independent of
the cash inflows from other assets or asset groups. An asset group is composed of assets directly
relating to cash-generation. Identification of an asset group is based on whether major cash
inflows generated by the asset group are largely independent of the cash inflows from other assets
or asset groups. In identifying an asset group, the Group also considers how management monitors
the Group’s operations and how management makes decisions about continuing or disposing of
the Group’s assets.
An asset’s fair value less costs to sell is the amount determined by the price of a sale agreement in
an arm’s length transaction, less the costs that are directly attributable to the disposal of the asset.
The present value of expected future cash flows of an asset is determined by discounting future
cash flows, estimated to be derived from continuing use of the asset and from its ultimate disposal,
to their present value using a pre-tax discount rate that reflects current market assessments of the
time value of money and the risks specific to the asset.
If the result of the recoverable amount calculation indicates that the recoverable amount of an
asset is less than its carrying amount, the carrying amount of the asset is reduced to its recoverable
amount. That reduction is recognised as an impairment loss and charged to profit or loss for the
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current period. A provision for impairment loss of the asset is recognised accordingly. For
impairment losses related to an asset group or a set of asset groups, first reduce the carrying
amount of any goodwill allocated to the asset group or set of asset groups, and then reduce the
carrying amount of the other assets in the asset group or set of asset groups on a pro rata basis.
However, the carrying amount of an impaired asset will not be reduced below the highest of its
individual fair value less costs to sell (if determinable), the present value of expected future cash
flows (if determinable) and zero.
Once an impairment loss is recognised, its is not reserved in a subsequent period.
14. Fixed assets
(1)Recognized standard of fixed assets
Fixed assets represent the tangible assets held by the Group for use in the production of goods or
supply of services for rental to others or for operation and administrative purposes with useful
lives over one year.
The cost of a purchased fixed asset comprises the purchase price, related taxes, and any directly
attributable expenditure for bringing the asset to working condition for its intended use. The cost
of self-constructed assets is measured in accordance with the policy set out in Note VIII (IV) 15.
Where parts of an item of fixed assets have different useful lives or provide benefits to the Group
in different patterns thus necessitating use of different depreciation rates or methods, each part is
recognised as a separate fixed asset.
The subsequent costs, including the cost of replacing part of an item of fixed assets, are recognised
in the carrying amount of the item if the recognition criteria are satisfied, and the carrying amount
of the replaced part is derecognised. The costs of the day-to-day servicing of fixed assets are
recognised in profit or loss as incurred.
Fixed assets are stated in the balance sheet at cost less accumulated depreciation and impairment
losses.
(2) Recognition basis and pricing method of fixed assets by finance lease
Naught
(3) Depreciation methods of fixed assets
Fixed assets are depreciated using the straight-line method over their estimated useful lives, unless
the fixed asset is classified as held for sale (see note VIII (IV) 29).
The useful lives and estimated residual values as well as annual depreciation rate of each kind of
fixed assets are as follows:
Category of fixed assets Useful life (Y) Estimated residual values (%) Annual deprecation rate
Housing and building 20-40 years 3%-10% 2.3%-4.9%
Machinery equipments 3-15 years 0-10% 6%-33.3%
Electronic equipments and other - - -
Transportation vehicle - - -
Other equipments 2-10 years 0-10% 9%-50%
Fixed assets acquired under
-- -- --
finance lease:
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Of which: housing and building - - -
Machinery equipments - - -
Electronic equipments and other - - -
Transportation vehicle - - -
Other equipments - - -
(4) Testing method of impairment and withdrawal method of provision for impairment on fixed
assets
If any indication exists that an asset may be impaired, the recoverable amount of the asset is
estimated. The recoverable amount of an asset, asset group or set of asset groups is the higher of
its fair value less costs to sell and its present value of expected future cash flows. An asset group is
the smallest identifiable group of assets that generates cash inflows that are largely independent of
the cash inflows from other assets or asset groups. An asset group is composed of assets directly
relating to cash-generation. Identification of an asset group is based on whether major cash
inflows generated by the asset group are largely independent of the cash inflows from other assets
or asset groups. In identifying an asset group, the Group also considers how management monitors
the Group’s operations and how management makes decisions about continuing or disposing of
the Group’s assets.
An asset’s fair value less costs to sell is the amount determined by the price of a sale agreement in
an arm’s length transaction, less the costs that are directly attributable to the disposal of the asset.
The present value of expected future cash flows of an asset is determined by discounting future
cash flows, estimated to be derived from continuing use of the asset and from its ultimate disposal,
to their present value using a pre-tax discount rate that reflects current market assessments of the
time value of money and the risks specific to the asset.
If the result of the recoverable amount calculation indicates that the recoverable amount of an
asset is less than its carrying amount, the carrying amount of the asset is reduced to its recoverable
amount. That reduction is recognised as an impairment loss and charged to profit or loss for the
current period. A provision for impairment loss of the asset is recognised accordingly. For
impairment losses related to an asset group or a set of asset groups, first reduce the carrying
amount of any goodwill allocated to the asset group or set of asset groups, and then reduce the
carrying amount of the other assets in the asset group or set of asset groups on a pro rata basis.
However, the carrying amount of an impaired asset will not be reduced below the highest of its
individual fair value less costs to sell (if determinable), the present value of expected future cash
flows (if determinable) and zero.
Once an impairment loss is recognised, its is not reserved in a subsequent period.
(5) Other explanations
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15. Construction in progress
(1) Categories of construction in progress
The enterprise’s self-constructed fixed asset includes self construction and contract construction.
(2) Standards and time of transferring construction in progress into fixed asset
The construction in progress has been finished and reached the expected conditions for use.
(3) Impairment test method and withdrawal method for impairment provision of construction in
progress
If any indication exists that an asset may be impaired, the recoverable amount of the asset is
estimated. The recoverable amount of an asset, asset group or set of asset groups is the higher of
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its fair value less costs to sell and its present value of expected future cash flows. An asset group is
the smallest identifiable group of assets that generates cash inflows that are largely independent of
the cash inflows from other assets or asset groups. An asset group is composed of assets directly
relating to cash-generation. Identification of an asset group is based on whether major cash
inflows generated by the asset group are largely independent of the cash inflows from other assets
or asset groups. In identifying an asset group, the Group also considers how management monitors
the Group’s operations and how management makes decisions about continuing or disposing of
the Group’s assets.
An asset’s fair value less costs to sell is the amount determined by the price of a sale agreement in
an arm’s length transaction, less the costs that are directly attributable to the disposal of the asset.
The present value of expected future cash flows of an asset is determined by discounting future
cash flows, estimated to be derived from continuing use of the asset and from its ultimate disposal,
to their present value using a pre-tax discount rate that reflects current market assessments of the
time value of money and the risks specific to the asset.
If the result of the recoverable amount calculation indicates that the recoverable amount of an
asset is less than its carrying amount, the carrying amount of the asset is reduced to its recoverable
amount. That reduction is recognised as an impairment loss and charged to profit or loss for the
current period. A provision for impairment loss of the asset is recognised accordingly. For
impairment losses related to an asset group or a set of asset groups, first reduce the carrying
amount of any goodwill allocated to the asset group or set of asset groups, and then reduce the
carrying amount of the other assets in the asset group or set of asset groups on a pro rata basis.
However, the carrying amount of an impaired asset will not be reduced below the highest of its
individual fair value less costs to sell (if determinable), the present value of expected future cash
flows (if determinable) and zero.
Once an impairment loss is recognised, its is not reserved in a subsequent period.
16. Borrowing costs
(1) Recognition principles for capitalization of borrowing costs
Borrowing costs of the Company incurred directly attributable to the acquisition, construction of a
qualifying asset are capitalized as part of the cost of the asset.
(2) Capitalization period of borrowing costs
The capitalizations period is the period from the date of commencement of capitalization of
borrowing costs to the date of cessation of capitalization, excluding any period over which
capitalization is suspended.
Capitalization of borrowing costs commences when meeting the following three conditions:
expenditure for the asset is being incurred, borrowing costs are being incurred and activities of
acquisition, construction or production that are necessary to prepare the asset for its intended use
or sale are in progress. If failed to meet any one of the condition, relevant borrowing costs shall
not be capitalized.
When the qualified asset under acquisition and construction or production is ready for the intended
use or sale, the capitalization of the borrowing costs shall be ceased.
If each part of the qualified asset under acquisition and construction or production is constructed
and completed respectively, the Group shall determine the time of ceasing capitalization of the
borrowing costs according to different situation.
Where each part of a qualified asset under acquisition and construction or production is completed
separately and is ready for use or sale during the continuing construction of other parts, and if the
acquisition and construction or production activities which are necessary to prepare this part of the
asset for the intended use or sale have already been completed substantially, the capitalization of
the borrowing costs in relation to this part of asset shall be ceased. Because such part of asset has
reached the expected condition of use or sale.
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(3) Period for suspending capitalization of borrowing costs
Where the acquisition and construction or production of a qualified asset is interrupted abnormally
and the interruption period lasts for more than 3 months, the capitalization of the borrowing costs
shall be suspended.
(4) Calculation method of capitalized amount of borrowing costs
(a) As for specifically borrowed loans for the acquisition and construction or production of assets
eligible for capitalization, the to-be-capitalized amount of interests shall be determined in light of
the actual cost incurred of the specially borrowed loan at the present period minus the income of
interests earned on the unused borrowing loans as a deposit in the bank or as a temporary
investment.
(b) Where a general borrowing is used for the acquisition and construction or production of assets
eligible for capitalization, the enterprise shall calculate and determine the to-be-capitalized amount
of interests on the general borrowing by multiplying the weighted average asset disbursement of
the part of the accumulative asset disbursements minus the general borrowing by the capitalization
rate of the general borrowing used. The capitalization rate shall be calculated and determined in
light of the weighted average interest rate of the general borrowing.
(c) During the period of capitalization, the amount of interest capitalized during each accounting
period shall not exceed the amount of interest actually incurred to the relevant borrowings in the
current period.
When the Group determines the to-be-capitalized amount of interests (including the amortization
of discounts or premiums) in each accounting period, it shall firstly judge the funds source
occupied by the assets eligible for capitalization during the process of acquisition, construction
and production. If the occupied funds are specifically borrowed loan, the to-be-capitalized amount
of interests shall be determined in light of the actual cost incurred of the specially borrowed loan
in each accounting period. If the Group gained the income of interests earned on the unused
borrowing loans as a deposit in the bank or as a temporary investment, it shall minus the relevant
interest income or investment income from the to-be-capitalized amount, so as to reflect the actual
costs of assets eligible for capitalization.
17. Biological assets
Naught
18. Oil gas assets
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19. Intangible assets
(1) Pricing method of intangible assets
Intangible assets are stated in the balance sheet at cost less accumulated amortisation (where the
estimated useful life is finite) and impairment losses (see note II.20). For an intangible asset with
finite useful life, its cost less residual value and impairment loss is amortised on the straight-line
method over its estimated useful life, unless the intangible asset is classified as held for sale.
(2) Estimated useful life of intangible assets with limited useful life.
For an intangible asset with finite useful life, its cost less residual value and impairment loss is
amortised on the straight-line method over its estimated useful life, unless the intangible asset is
classified as held for sale.
Item Estimated useful life Basis
Land use rights 40-50 years Period stipulated by the Land Use Right Certificate
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Period agreed in the contract or estimated to bring economic
Special technology 9-20 years
benefits for the Company
Period agreed in the contract or estimated to bring economic
Computer software 3-10 years
benefits for the Company
Period agreed in the contract or estimated to bring economic
Patent and others 5-10 years
benefits for the Company
(3) Judgment basis of intangible assets with uncertain useful life
An intangible asset is regarded as having an indefinite useful life and is not amortised when there
is no foreseeable limit to the period over which the asset is expected to generate economic benefits
for the Group. At the balance sheet date, the Group doesn’t have any intangible assets with
indefinite useful lives.
(4) Withdrawal of impairment provision of intangible assets
If any indication exists that an asset may be impaired, the recoverable amount of the asset is
estimated. The recoverable amount of an asset, asset group or set of asset groups is the higher of
its fair value less costs to sell and its present value of expected future cash flows. An asset group is
the smallest identifiable group of assets that generates cash inflows that are largely independent of
the cash inflows from other assets or asset groups. An asset group is composed of assets directly
relating to cash-generation. Identification of an asset group is based on whether major cash
inflows generated by the asset group are largely independent of the cash inflows from other assets
or asset groups. In identifying an asset group, the Group also considers how management monitors
the Group’s operations and how management makes decisions about continuing or disposing of
the Group’s assets.
An asset’s fair value less costs to sell is the amount determined by the price of a sale agreement in
an arm’s length transaction, less the costs that are directly attributable to the disposal of the asset.
The present value of expected future cash flows of an asset is determined by discounting future
cash flows, estimated to be derived from continuing use of the asset and from its ultimate disposal,
to their present value using a pre-tax discount rate that reflects current market assessments of the
time value of money and the risks specific to the asset.
If the result of the recoverable amount calculation indicates that the recoverable amount of an
asset is less than its carrying amount, the carrying amount of the asset is reduced to its recoverable
amount. That reduction is recognised as an impairment loss and charged to profit or loss for the
current period. A provision for impairment loss of the asset is recognised accordingly. For
impairment losses related to an asset group or a set of asset groups, first reduce the carrying
amount of any goodwill allocated to the asset group or set of asset groups, and then reduce the
carrying amount of the other assets in the asset group or set of asset groups on a pro rata basis.
However, the carrying amount of an impaired asset will not be reduced below the highest of its
individual fair value less costs to sell (if determinable), the present value of expected future cash
flows (if determinable) and zero.
Once an impairment loss is recognised, it is not reserved in a subsequent period.
(5) Criteria of dividing the research phase and development phase of internal R&D project
Research is original and planned investigation undertaken with the prospect of gaining new
scientific or technical knowledge and understanding. Development is the application of research
findings or other knowledge to a plan or design for the production of new or substantially
improved materials, devices, or products before the start of commercial production or use.
(6) Calculation of the expenditures of internal R&D project
Expenditures on the research phase are recognised in profit or loss when incurred. Expenditures
on the development phase are capitalised if development costs can be measured reliably, the
product or process is technically and commercially feasible, and the Group intends to and has
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sufficient resources to complete development. Capitalised development costs are stated at cost
less impairment losses in the balance sheet. Other development expenditures are recognised as
expenses in the period in which they are incurred.
20. Amortization method of long-term deferred expenses
Long-term deferred expenses are amortised on a straight-line method within the benefit period:
Item Amortisation period (years)
Cost of operating lease assets improvement 3-10 years
Cost of construction and use of public facilities 3-40 years
Others 3-10 years
21. Assets transfer with repurchasing conditions
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22. Estimated liabilities
(1) Criteria of estimated liabilities
A provision is recognised for an obligation related to a contingency if the Group has a present
obligation that can be estimated reliably, and it is probable that an outflow of economic benefits
will be required to settle the obligation.
(2) Measurement of estimated liabilities
Where the effect of time value of money is material, provisions are determined by discounting the
expected future cash flows.
23. Share-based payment and equity instruments
(1) Categories of share-based payment
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(2) Recognition method of fair value of equity instruments
Naught
(3) Recognition basis of the best estimate of the vested equity instruments
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(4) Accounting treatment relevant to implement, revise and terminate share-based payment plan
Naught
24. Repurchase of shares of the Company
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25. Revenue
(1) Criteria for recognition time of revenue from sale of goods
Revenue is the gross inflow of economic benefit arising in the course of the Group’s ordinary
activities when the inflows result in increase in shareholder’s equity, other than increase relating to
contributions from shareholders. Revenue is recognised in profit or loss when it is probable that
the economic benefits will flow to the Group, the revenue and costs can be measured reliably and
the following respective conditions are met:
Revenue from sale of goods is recognised when all of the general conditions stated above and
following conditions are satisfied:
–The significant risks and rewards of ownership of goods have been transferred to the buyer;
–The Group retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold.
–Revenue from the sale of goods is measured at the fair value of the considerations received or
receivable under the sales contract or agreement.
(2) Recognition basis of revenue from transferring use rights of assets
Revenue from rendering of services is measured at the fair value of the considerations received or
receivable under the contract or agreement.
(3) Recognition basis and method for the schedule of contracted project when recognizing the
revenue from providing labour services and construction contract by percentage-of-completion
method
Naught
26. Government grants
(1) Types
Government grants consist of the government grants pertinent to assets and government grants
pertinent to income.
(2) Accounting treatment method
A government grant related to an asset is recognised initially as deferred income and amortised to
profit or loss on a straight-line basis over the useful life of the asset. A grant that compensates the
Group for expenses to be incurred in the subsequent periods is recognised initially as deferred
income and recognised in profit or loss in the same periods in which the expenses are recognised.
A grant that compensates the Group for expenses incurred is recognised in profit or loss
immediately.
27. Deferred income tax assets and liabilities
(1) Recognition basis of deferred income tax assets
The Group use the balance sheet liability method to calculate its income tax, which is recognized
in accordance with a difference between the carrying amount of an asset or liability and its tax
base (temporary difference). For any deductible loss that can be carried forward to the next year to
deduct the income tax according to the stipulations of tax law, relevant deferred income tax assets
shall be recognized.
The deferred income tax asset shall be determined to the extent that the amount of taxable income
to be offset by the deductible loss or tax deduction to be likely obtained.
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
For the deductible temporary difference relating to the investments of the subsidiary companies,
associated enterprises and joint enterprises, the enterprise shall recognize the corresponding
deferred income tax assets for those that meet the following requirements:
(a)The temporary differences are likely to be reversed in the expected future; and
(b)It is likely to acquire any amount of taxable income that may be used for deducting the
deductible temporary differences.
(2) Recognition basis of deferred income tax liabilities
The Group use the balance sheet liability method to calculate its income tax, which is recognized
in accordance with a difference between the carrying amount of an asset or liability and its tax
base (temporary difference). As for the temporary difference from the initial recognition of
goodwill, no deferred income tax liabilities shall be recognized.
The taxable temporary differences relating to the investments of subsidiary companies, associated
enterprises and joint enterprises shall recognized as corresponding deferred income tax liabilities,
however, excluding those that simultaneously satisfy the following conditions:
(a) The investing enterprise can control the time of the reverse of temporary differences; and
(b) The temporary differences are unlikely to reverse in the excepted future.
28. Operating lease and finance lease
(1) Accounting treatments of operating lease
(a) Operating lease charges
Rental payments under operating leases are recognised as costs or expenses on a straight-line basis
over the lease term.
(b) Assets leased out under operating leases
Fixed assets leased out under operating leases, except for investment property (see Note VIII (IV)
14 (3)), are depreciated in accordance with the Group’s depreciation policies described in Note
VIII (IV) 14 (4). Impairment losses are provided for in accordance with the accounting policy
described in Note II.20. Income derived from operating leases is recognised in the income
statement using the straight-line method over the lease term. If initial direct costs incurred in
respect of the assets leased out are material, the costs are initially capitalised and subsequently
amortised in profit or loss over the lease term on the same basis as the lease income. Otherwise,
the costs are charged to profit or loss immediately.
(2) Accounting treatments of finance lease
When the Group acquires an asset under a finance lease, the asset is measured at an amount equal
to the lower of its faire values and the present value of the minimum lease payments, each
determined at the inception of the lease. The minimum lease payments are recorded as long-term
payables. The difference between the value of the leased assets and the minimum lease payments
is recognised as unrecognised finance charges. Initial direct costs that are attributable to a
finance lease incurred by the Group are added to the amounts recognised for the leased asset.
Depreciation and impairment losses are accounted for in accordance with the accounting policies
described in Note VIII (IV) 14 (3) and Note VIII (IV) 14 (4), respectively.
If there is reasonable certainty that the Group will obtain ownership of a leased asset at the end of
the lease term, the leased asset is depreciated over its estimated useful life. Otherwise, the leased
asset is depreciated over the shorter of the lease term and its estimated useful life.
Unrecognised finance charge under finance lease is amortised using an effective interest method
over the lease term. The amortisation is accounted for in accordance with policies of borrowing
costs (see Note VIII (IV) 16).
At the balance sheet date, long-term payables arising from finance leases, net of the unrecognised
finance charges, are presented into long-term payables and non-current liabilities due within one
year, respectively in the balance sheet.
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
29. Assets held for sale
(1) Recognition criteria of available-for-sale assets
A non-current asset is classified as held for sale when the Group has made a decision and signed a
non-cancellable agreement on the transfer of the asset with the transferee, and the transfer is
expected to be completed within one year. Such non-current assets may be fixed assets, intangible
assets, and investment property subsequently measured using the cost model, long-term equity
investment etc. (not include financial assets and deferred income tax assets).
(2) Accounting treatments of the assets held for sale
Non-current assets held for sale are stated at the lower of carrying amount and net realisable value.
Any excess of the carrying amount over the net realisable value is recognised as impairment loss.
At balance sheet date, non-current assets held for sale are still presented under corresponding asset
classification as they were.
30. Capitalization of assets business
Naught
31. Hedging accounting
Naught
32. Changes in main accounting policies and estimates
Were the main accounting policies or estimates changed during the reporting period?
□Yes √ No □ Inapplicable
(1) Change of accounting policies
Were the main accounting policies changed during the reporting period?
□Yes √ No □ Inapplicable
(2) Change of accounting estimates
Were the main accounting estimates changed during the reporting period?
□Yes √ No □ Inapplicable
33. Correction of previous accounting errors
Was any accounting error made in previous periods discovered in the reporting period?
□Yes √ No □ Inapplicable
(1) Retrospective restatement method
Was any previous accounting errors adopting retrospective restatement method discovered in the
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
reporting period?
□Yes √ No □ Inapplicable
(2) Prospective application method
Was any previous accounting errors adopting prospective application method discovered in the
reporting period?
□Yes √ No □ Inapplicable
34. Other main accounting policies, accounting estimates as well as compilation method of
financial statements
(1) Related parties
If a party has the power to control, jointly control or exercise significant influence over another
party, or vice versa, or where two or more parties are subject to common control, joint control, or
significant influence from another party, they are considered to be related parties. Related parties
may be individuals or enterprises. Enterprises with which the Company is under common control
only from the State and that have no other related party relationships are not regarded as related
parties of the Group. Related parties of the Group and the Company include, but are not limited
to:
(a) the Company’s parent
(b) the Company’s subsidiaries
(c) enterprises that are controlled by the Company’s parent
(d) investors that have joint control or over exercise significant influence over the Group
(e) enterprise or individuals if a party has control, joint control or significant influence over both
the enterprises or individuals and the Group
(f) joint ventures of the Group, including subsidies of joint ventures
(g) associates of the Group, including subsidies of associates
(h) principal individual investors and close family members of such individuals
(i) key management personnel of the Group and close family members of such individuals
(j) key management personnel of the Company’s parent
(k) close family members of key management personnel of the Company’s parent; and
(l) other enterprises that are jointly controlled or significantly influenced by principal individual
investors, key management personnel of the Group, and close family members of such individuals.
Besides the related parties stated above determined in accordance with the requirements of CAS,
the following enterprises and individuals are considered as (but not restricted to) related parties
based on the disclosure requirements of ―Administrative Procedures on the Information
Disclosures of Listed Companies‖ issued by the CSRC:
(m) enterprises, or persons that act in concert, that hold 5% or more of the Company’s shares
(n) individuals and close family members of such individuals who directly or indirectly hold 5%
or more of the Company’s shares
(o) enterprises that satisfy any of the aforesaid conditions in (a), (c) and (m) during the past 12
months or will satisfy them within the next 12 months pursuant to a relevant agreement
(p) individuals who satisfy any of the aforesaid conditions in (i), (j) and (n) during the past 12
months or will satisfy them within the next 12 months pursuant to a relevant agreement; and
(q) enterprises, other than the Company and subsidiaries controlled by the Company, which are
controlled directly or indirectly by an individual defined in (i), (j), (n) or (p), or in which such an
individual assumes the position of a director or senior executive.
(2) Segment reporting
Reportable segments are identified based on operating segments which are determined based on
the structure of the Group’s internal organization, management requirements and internal reporting
system. An operating segment is recognised when all of the following conditions have been
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
satisfied:
– the component engages in business activities from which it may earn revenues and incur
expenses;
– whose operating results are regularly reviewed by the Group’s management to make decisions
about resource to be allocated to the segment and assess its performance; and
– for which financial information regarding financial position, results of operations and cash flows
is available.
Two or more operating segments may be aggregated into a single operating segment if the
segments have similar economic characteristics, and are similar in respect of the following
conditions:
– the nature of products and services
– the nature of production processes
– the type or class of customers for the products and services
– the methods used to distribute the products or provide the services
– the nature of the regulatory environment
When the Group drafts the report of an operating segment, transaction income from operating
segments is measured at the basis of actual transaction price. Policies adopts in preparing the
report of an operating segment shall in accordance with accounting policies adopted in the
preparation of financial statements of the Group.
(Ⅴ). Taxation
1. Main types of taxes and corresponding rates
Category of taxes Tax basis Tax rate
Output VAT is calculated on product
sales and taxable services revenue, based
on tax laws. The remaining balance of
VAT 13% or 17%
output VAT, after subtracting the
deductible input VAT of the period, is
VAT payable.
Consumption tax Naught Naught
Business tax Based on taxable revenue of sales 5%
Based on business tax paid and VAT
City maintenance and construction tax 7%
payable
Enterprise income tax Based on taxable revenue 0-25%
The income tax rates adopted by each subsidiary and branch factory
The companies of the Group enjoying the preferential tax rate of enterprise income tax are as
follows:
1. The national specially supported hi-tech enterprises include: Beijing BOE Optoelectronics
Technology Co., Ltd., Chengdu BOE Optoelectronics Technology Co., Ltd., Hefei BOE
Optoelectronics Technology Co., Ltd, Suzhou BOE Chatani Electronics Co., Ltd., BOE Hyundai
LCD (Beijing) Display Technology Co., Ltd., Beijing BOE Special Display Technology Co., Ltd.,
Beijing BOE Vacuum Electronics Co., Ltd., BOE Semi-conductor Co., Ltd., Beijing Asahi
Electron Glass Co., Ltd., Beijing BOE Vacuum Technology Co., Ltd. and Beijing BOE
Multimedia Technology Co. Ltd. Their enterprise income tax rates in 2012 are all 15%.
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
2. The foreign-invested enterprises enjoying ―2-year exemption and 3-year 50% reduction‖ during
the transition period of enterprise income tax: BOE (Hebei) Mobile Technology Co., Ltd., its
enterprise income tax rate in 2012 is 12.5%.
Except the above companies enjoying the tax preference and the overseas subsidiaries enjoying
local taxes, other companies of the Group adopt a tax rate of 25%.
2. Tax preference and official documents
1. Enterprise income tax
preference:
Name of company enjoying the Approval authority, approval document
Tax rate Basis of policy
preferential policy No. and valid period
15% According to the Order The Company obtained the certificate of
No. 63 of the Chairman of high-tech enterprise numbered
the People's Republic of GF201111000041 on 14 Sept. 2011,
China—the Corporate which was entitled jointly by Beijing
Beijing BOE Income Tax Law of the Municipal Science & Technology
Optoelectronics Technology Co., People’s Republic of Commission, Finance Bureau of Beijing,
Ltd. China (―new tax law‖) Beijing Municipal Office of State
treatment No. 28, Administration of Taxation, and Beijing
corporate income tax for Local Taxation Bureau, subject to a
key advanced and preferential enterprise income tax rate of
high-tech enterprises 15% within the valid period three years.
15% supported by the State The Company obtained the certificate of
shall be at a preferential high-tech enterprise number
tax rate of 15%. GR201051000051 on 28 Jul. 2010, which
was entitled jointly by Science &
Technology Department of Sichuan
Chengdu BOE Optoelectronics
Province, Finance Bureau of Sichuan
Technology Co., Ltd.
Province, Sichuan Provincial Office, SAT
and Sichuan Local Taxation Bureau,
subject to a preferential enterprise income
tax rate of 15% within the valid period
three years.
15% The Company obtained the certificate of
high-tech enterprise number
GR201034000024 on 28 May 2010, which
was entitled jointly by Science &
Technology Bureau of An’hui Province,
Hefei BOE Optoelectronics
Anhui Provincial Department of Finance,
Technology Co., Ltd
Anhui Provincial Office of SAT and Local
Taxation Bureau of Anhui Province,
subject to a preferential enterprise income
tax rate of 15% within the valid period
three years.
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
15% The Company obtained the certificate of
high-tech enterprise number
GF201132000300 on 9 Sept. 2011, which
was entitled jointly by Science &
Technology Bureau of Jiangsu Province,
Suzhou BOE Chatani Electronics
Jiangsu Provincial Department of Finance,
Co., Ltd.
Jiangsu Provincial Office of SAT and
Local Taxation Bureau of Jiangsu
Province, subject to a preferential
enterprise income tax rate of 15% within
the valid period three years.
15% Obtained High-tech Enterprises Certificate
No GR200911002274 jointly issued by
Beijing Municipal Science & Technology
Commission, Beijing Municipal Financial
BOE Hyundai LCD (Beijing) Bureau, Beijing Municipal State
Display Technology Co., Ltd. Administration of Taxation and Beijing
Municipal Local Administration of
Taxation on 26 June 2009. Subject to a
preferential enterprise income tax rate of
15% within the valid period of three years.
15% Obtained High-tech Enterprises Certificate
No GR200911000685 jointly issued by
Beijing Municipal Science & Technology
Commission, Beijing Municipal Financial
Bureau, Beijing Municipal State
Beijing BOE Special Display
Administration of Taxation and Beijing
Technology Co., Ltd.
Municipal Local Administration of
Taxation on 26 December 2009. Subject
to a preferential enterprise income tax rate
of 15% within the valid period of three
years.
15% Obtained once again the High-tech
Enterprises Certificate No
GF201111000395 jointly issued by
Beijing Municipal Science & Technology
Commission, Beijing Municipal Financial
Beijing BOE Vacuum Electronics
Bureau, Beijing Municipal State
Co., Ltd.
Administration of Taxation and Beijing
Municipal Local Administration of
Taxation on 14 Sept. 2011. Subject to a
preferential enterprise income tax rate of
15% within the valid period of three years.
BOE Semi-conductor Co., Ltd. 15% Obtained once again the High-tech
91
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Enterprises Certificate No
GF201111000163 jointly issued by
Beijing Municipal Science & Technology
Commission, Beijing Municipal Financial
Bureau, Beijing Municipal State
Administration of Taxation and Beijing
Municipal Local Administration of
Taxation on 14 Sept. 2011. Subject to a
preferential enterprise income tax rate of
15% within the valid period of three years.
15% Obtained High-tech Enterprises Certificate
No GR200911000589 jointly issued by
Beijing Municipal Science & Technology
Commission, Beijing Municipal Financial
Beijing Asahi Electron Glass Co., Bureau, Beijing Municipal State
Ltd. Administration of Taxation and Beijing
Municipal Local Administration of
Taxation on 26 June 2009. Subject to a
preferential enterprise income tax rate of
15% within the valid period of three years.
15% Obtained High-tech Enterprises Certificate
No GR200911000084 jointly issued by
Beijing Municipal Science & Technology
Commission, Beijing Municipal Financial
Beijing BOE Vacuum Technology Bureau, Beijing Municipal State
Co., Ltd. Administration of Taxation and Beijing
Municipal Local Administration of
Taxation on 27 May 2009. Subject to a
preferential enterprise income tax rate of
15% within the valid period of three years.
15% Obtained High-tech Enterprises Certificate
No GR201111000485 jointly issued by
Beijing Municipal Science & Technology
Commission, Beijing Municipal Financial
Beijing BOE Multimedia Bureau, Beijing Municipal State
Technology Co. Ltd. Administration of Taxation and Beijing
Municipal Local Administration of
Taxation on 21 Nov. 2011. Subject to a
preferential enterprise income tax rate of
15% within the valid period of three years.
12.5% According to State According to State Council, Notice of the
BOE (Hebei) Mobile Technology Council, Notice of the State Council on the Implementation of
Co., Ltd. State Council on the the Transitional Preferential Policies in
Implementation of the respect of corporate Income Tax (Guofa
92
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Transitional Preferential (2007) No.39), the foreign-invested
Policies in respect of enterprises are exempted from the
corporate Income Tax enterprise income tax in the first and
(Guofa (2007) No.39), second years starting from the earning
since 1 Jan. 2008, the fiscal year, and shall pay the tax in half of
enterprises that previously the enterprise income tax rate from the
enjoy ―2-year exemption third year to the fifth year. However, if
and 3-year 50% such an enterprise has not enjoyed the
reduction‖, ―5-year preferential treatments yet because of its
exemption and 5 year failure to make profits, its preferential
50% reduction‖ of the time period shall be calculated from 2008.
enterprise income tax And the year of 2009 is the second year
may, after the for tax exemption, while the year of 2012
implementation of the is the third year for 50% tax deduction.
new tax law, continue to
enjoy the relevant
preferential treatments
under the preferential
measures and the time
period prescribed in the
former tax law,
administrative regulations
and relevant documents
until the expiration of the
said time period.
However, if such an
enterprise has not enjoyed
the preferential treatments
yet because of its failure
to make profits, its
preferential time period
shall be calculated from
2008.
2. Customs VAT and tariff tax preference
Name of company enjoying the Approval authority, approval document
Basis of policy
preferential policy No. and valid period
In accordance with CS[2010] No. On 4 Nov. 2010, Ministry of Finance and
100—Circular on Refund the Closing State Administration of Taxation jointly
Retained Tax Deduction for issued the CS[2010] No. 100, approving to
Hefei BOE Optoelectronics the Imported Devices VAT of Partial refund the closing retained tax deduction
Technology Co., Ltd. Projects jointly issued by Ministry of for the imported devices VAT of partial
Finance and State Administration of projects, such document executed from 1
Taxation, approving to refund the Dec. 2010.
closing retained tax deduction for the
93
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
imported devices VAT of partial
projects.
In accordance with CS[2011] No. On 4 Nov. 2010, Ministry of Finance and
107—Circular on Refund the Closing State Administration of Taxation jointly
Retained Tax Deduction for issued the CS[2011] No. 107, approving to
the Procured Equipments VAT of IC refund the closing retained tax deduction
Beijing BOE Display Technology
Enterprises jointly issued by Ministry for the procured equipments VAT of IC
Co., Ltd. , Hefei BOE
of Finance and State Administration significant enterprises, such document
Optoelectronics Technology Co.,
of Taxation, approving to refund the executed from 1 Jan. 2011.
Ltd.
closing retained tax deduction for the
procured equipments VAT of IC
significant enterprises.
In accordance with CGS[2012] No. On 4 Nov. 2010, the Ministry of Finance
17— Circular on Relevant Policies and General Administration of Customs
about Installed Tax Payment for the jointly issued the CGS[2012] No. 17,
VAT of Significant Imported Devices approving he new plat panel display
of New Flat Panel Display Items significant enterprises to pay the VAT of
Beijing BOE Display Technology
jointly issued by the Ministry of imported new devices by installment, such
Co., Ltd. , Ordos Yuansheng
Finance and General Administration document executed from 1 Jan. 2011.
Optoelectronics Co., Ltd.
of Customs, approved the new plat
panel display significant enterprises
to pay the VAT of imported new
devices by installment.
On Apr. 2012, the Ministry of On 4 Nov. 2012, the Ministry of Finance,
Finance issued the CGS[2012] No. General Administration of Customs and
16, stipulating to provide the tariff State Administration of Taxation jointly
and import VAT exemption and issued the CS [2012] No. 16, providing the
deduction for the building materials, tax preferential policy of VAT and tariff
auxiliary systems , equipment for y new display devices significant
accessories in clean room imported enterprises, the valid period of
Beijing BOE Display Technology
(unavailable from domestic such document is from 1 Jan. 2012 to 31
Co., Ltd.
companies) imported by new display Dec. 2015.
devices enterprises; and provide tariff
exemption and deduction for
production raw materials and
consumption materials (unavailable
from domestic companies) imported
by new display devices enterprises.
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
(Ⅵ) Business combination and consolidated financial statements
General instruction of business combination and consolidated financial statements:
1. Subsidiaries
95
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
(1) Subsidiaries obtained by establishment and investment
Unit: RMB Ten thousand Yuan
Actual
The The
amount of Other Included in Deductible
Registered Business Registered Business proportion proportion Minority
Subsidiaries Type Currency investments essential consolidated minority
place nature capital scope of holding of voting interest
at the investment statement interests
shares（%） rights（%）
period-end
Beijing Manufactur
e and sale of
BOE Manufactur vacuum
Other
Vacuum e of electronic
limited Beijing, products
Electronics electronic 3,500.00 CNY 1,925.00 55% 55% Yes 5,312.72
liability China
Co., Ltd. vacuum
company
(Vacuum devices
Electronics)
Beijing Manufactur
e and sale of
BOE Manufactur electronic
Vacuum Limited e of tubes
Beijing,
Technology liability electronic 3,200.00 CNY 3,200.00 100% 100% Yes
China
Co., Ltd. company vacuum
(Vacuum devices
Technology)
Beijing Developme
Limited Developme
Beijing, nt of display
BOE liability nt of display 6,000.00 CNY products 6,000.00 100% 100% Yes
China and sale of
Special company products
electronic
96
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Display and sale of products
Technology electronic
Co., Ltd. products
(Special
Display)
Beijing Lease and
operation of
Yinghe offices and
Century Other middle
Property grade hotel
Co., Ltd. limited Beijing, houses;
managemen 23,310.52 CNY 33,303.74 100% 100% Yes
(Yinghe liability China business
t and
Century) company entertainme
nt service;
toll parking
lots
Suzhou Developme
nt and
BOE Manufactur manufacture
Chatani Limited e of of backlight
Suzhou, and related 1,873.31
Electronics liability electronic 18,648.51 CNY parts and 19,308.79 90.51% 90.51% Yes
China
Co., Ltd. company components components
for LCD
(Suzhou and parts
Chatani)
BOE Developme
nt,
Hyundai Manufactur manufacture
Limited
LCD Beijing, e of and sale of
liability 500.00 USD liquid 3,103.85 75% 75% Yes 1,834.96
(Beijing) China electronic display for
company
Display devices mobile
termination
Technology
97
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Co., Ltd.
(BOE
Hyundai)
Beijing Research,
developmen
BOE t, design
Optoelectro Limited Manufactur and
Beijing, manufacture
nics liability e of 64,911.00 USD of 417,228.81 82.49% 82.49% Yes 50,162.01 -2,329.23
China
Technology company TFT-LCD TFT-LCD
Co., Ltd.
(BOEOT)
BOE Manufactur
e and sale of
(Hebei) mobile flat
Manufactur
Mobile Limited screen
Langfang, e of display
Technology liability 2,000.00 USD technical 12,030.75 75% 75% Yes 3,746.42
China electronic
Co., Ltd. company products
device and related
(BOE services
Hebei)
Beijing Developme
nt of
BOE TFT-LCD,
Other
Display Manufactur manufacture
limited Beijing, 1,737,719.9 and sale of
Technology e of CNY LCD 870,500.00 50.09% 50.09% Yes 826,977.30 -28,903.70
liability China 3
Co., TFT-LCD
company
Ltd. (BOE
Display)
Beijing Limited Beijing, Sales of Sale of 1,513.65
20,000.00 CNY computer 20,000.00 100% 100% Yes -36.35
BOE liability China electronic software
98
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Multimedia company products and
hardware 、
Technology
the numeral
Co. Ltd. regards the
audio
(Multimedia
frequency
BOE) technology
Beijing Integration
Integration and
BOE application
and of
Energy Limited
Beijing, application photovoltaic
Technology liability 2,900.00 CNY system sale 2,900.00 100% 100% Yes
China of of
Co., Ltd. company
photovoltaic photovoltaic
(BOE system and
system ancillary
Energy)
facilities
Beijing Manufactur
e of LCD
BOE Video TV, LCD;
Technology R&D and technology
Limited developmen
Co., Ltd. Beijing, manufacture t of terminal
liability 50,000.00 CNY 50,000.00 100% 100% Yes 1,256.56 -116.25
(BOE China of electronic products
company and systems
Video) products such as
TFT-LCD
display and
TV
Beijing Technology
promotion,
Zhongpingx property
Limited Property
un Beijing, managemen
liability managemen 1,000.00 CNY t, and sale 1,000.00 100% 100% Yes
Technology China of electronic
company t
Co., Ltd. products
(Beijing
99
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Zhongpingx
un)
Beijing Technology
promotion,
Zhongxiang property
ying managemen
Limited Property t, and sale
Technology Beijing, of electronic
liability managemen 1,000.00 CNY 1,000.00 100% 100% Yes
Co., Ltd. China products
company t
(Beijing
Zhongxiang
ying)
Ordos Manufactur
Yuansheng e and sales
Optoelectro of
Limited Manufactur
nics Co., Ordos, AM-OLED 200,000.00
liability e of 200,400.00 CNY 99.8% 99.8% Yes 398.13 -1.00
Ltd. China products
company AM-OLED
(Yuansheng and
Optoelectro auxiliary
nics) products
Processing,
Beijing Manufactur
manufacturi
BOE e of
ng and sales
Semi-condu Limited photoelectro
Beijing, 1,500.00 of precision 945.00
ctor Co., liability nic device CNY 63% 63% Yes 2,413.96 -101.54
China electronic
Ltd. (BOE company and other
components
Semi-condu electronic
,
ctor ) device
semi-condu
100
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
ctor devices
and micro
module;
micro-electr
onics
devices and
electronic
materials;
projects of
communicat
ions, radio
and
television
equipment
Developme
nt,
construction
, property
Beijing
managemen
BOE Land Limited Property
Beijing, 5,542.00 t and 773.15 2,974.92
Co., Ltd. liability managemen CNY 70% 70% Yes
China auxiliary
（ BOE company t
services for
Land）
industrial
plants and
ancillary
facilities;
101
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Real estate
information
consultancy
(excluding
intermediar
y services);
Lease of
commercial
facilities,
services and
other
supporting
service
facilities
R&D,
production
and sales of
Beijing self-produce
BOE Digital Manufactur d digital
Limited
Technology Beijing, e of home camera and 2.63
liability 1,000.00 USD 1,513.65 75% 75% Yes
Co., Ltd. China video digital video
company
（ BOE equipment products
Digital） through
wireless
transmission
platform
102
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Beijing
BOE
Limited Sales of Sales of
Marketing Beijing,
liability electronic 50.00 CNY LCD 50.00 100% 100% Yes
Co., Ltd. China
company products products
（ BOE
Marketing）
BOE
Limited Seongnam, Sales of Sales of
(Korea）Co.,
liability Gyeonggi, electronic 10.00 USD electronic 78.85 100% 100% Yes
Ltd.（"BOE
company Korea products products
Korea"）
Design, Design,
BOE manufacture manufacture
Optoelectro , trade, , trade,
nics investment investment
Limited British
Holding and and
liability Virgin 60.00 USD 198.47 100% 100% Yes
Co., Ltd. financing financing
company Islands
（ Optoelect activities of activities of
ronics electronic electronic
Holding） information information
industry industry
Other notes to subsidiaries obtained by establishment and investment:
Naught
103
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
(2) Subsidiaries obtained by business combination under the same control
Naught
(3) Subsidiaries obtained by business combination not under the same control
Unit: RMB Ten thousand Yuan
Actual
amount The The Include Deducti
Other
of proporti proporti d in ble
Registe Registe essentia Minorit
Subsidi Busines Currenc Busines investm on of on of consoli minorit
Type red red l y
aries s nature y s scope ents at holding voting dated y
place capital investm interest
the shares rights stateme interest
ent
period- （%） （%） nt s
end
Chengd
u BOE
Optoele
TFT-L
ctronics
CD;
Technol Other
Manufa R&D,
ogy limited Chengd
cture of 183,00 product 183,31
Co., liability u, CNY 100% 100% Yes
TFT-L 0.00 ion and 5.00
Ltd. compan China
CD sales of
（Chen y
TFT-L
gdu
CD
Optoele
ctronics
）
Sales of
Manufa
Beijing TV
cture of
Asahi bracket
optoele
Glass glass
Limited ctronic
Electro rod and
liability Beijing, devices 6,157.6 3,088.8
nics CNY CTV 100% 100% Yes
compan China and 8 5
Co., low-me
y other
Ltd. lting-po
electron
（Asah int
ic
i Glass） solder
devices
glass
Hefei One Manufa R&D,
BOE person Hefei, cture of 900,00 product 900,00
CNY 100% 100% Yes
Optoele limited China TFT-L 0.00 ion and 0.00
ctronics liability CD sales of
104
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Technol compan TFT-L
ogy y CD
Co.,
Ltd.
（Hefei
BOE）
Beijing
Matsus
Propert
hita
y
Color Other
Propert manage
CRT limited 124,07 36,130. 201,47
Beijing, y ment
Co., liability 5.40 CNY 43 80% 80% Yes 5,348.0
China manage and
Ltd. compan 0
ment parking
（Mats y
service,
ushita
etc.
Color
CRT）
Other notes to subsidiaries obtained by business combination not under the same control:
Naught
2. Special purpose entities or operating entities with control right formed by entrusted operation or lease
□ Applicable √ Inapplicable
Other explanation on special purpose entities or operating entities with control right formed by entrusted operation
or lease:
3. Explanation on changes in consolidated scope
Explanation on changes in consolidated scope:
□ Applicable √ Inapplicable
4. Subsidiaries that newly and no longer combined into consolidation scope in the reporting period
Naught
5. Business combination under the same control during the reporting period
Naught
6. Business combination not under the same control during the reporting period
Naught
105
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
7. Subsidiaries reduced by selling equities without control right during the reporting period
Naught
8. The counter purchases in the reporting period
Naught
9. Mergers in the reporting period
Naught
10. Exchange rates of major items in financial statements for foreign entities
Exchange rates of major items in financial statements：
Currency Closing exchange rate Average exchange rate in the reporting period
USD 6.324900 6.305386
SGD 4.969000 4.990200
KRW 0.005534 0.005554
NTD 0.212721 0.213146
Translation method of foreign financial statements:
1. The asset and liability items in the balance sheets shall be translated at a spot exchange rate on the balance sheet
date. Among the owner’s equity items, except for the items as ―undistributed profits‖, other items shall be
translated at the spot exchange rate at the time when they are incurred.
2. The income and expense items in the profit statements shall be translated at the spot exchange rate of the
transaction date.
3. The differences arising from the translation of foreign currency financial statements in compliance with the
aforesaid Items 1 and 2 shall be presented separately as the differences arising from the translation of foreign
currency financial statements under the owner’s equities of the consolidated balance sheets.
(Ⅶ) Notes on major items in consolidated financial statements of the Company
1. Monetary funds
Unit: RMB Yuan
Closing balance Opening balance
Item Amount in foreign Exchan Amount in Exchange
Amount in RMB Amount in RMB
currency ge rate foreign currency rate
Cash: -- -- 538,148.00 -- -- 599,473.00
RMB -- -- 266,835.00 -- -- 191,532.00
USD 21,874.00 6.3249 138,353.00 33,796.00 6.3009 212,944.00
HKD 9,665.00 0.8152 7,879.00 9,665.00 0.8107 7,835.00
106
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
JPY 53,561.00 0.0796 4,266.00 634,501.00 0.0811 51,460.00
KRW 2,458,258.00 0.0055 13,604.00 3,591,596.00 0.0055 19,693.00
EUR 9,615.00 7.871 75,678.00 9,615.00 8.1622 78,480.00
TWD 28,577.00 0.2127 6,079.00 54,216.00 0.208 11,277.00
SGD 1,881.00 4.969 9,347.00 2,065.00 4.8682 10,051.00
GBP 397.00 9.8169 3,901.00 397.00 9.7204 3,859.00
MYR 3,804.00 1.9788 7,527.00 3,804.00 1.9889 7,565.00
CHF 710.00 6.59 4,679.00 710.00 6.7282 4,777.00
Bank deposit: -- -- 11,138,563,785.00 -- -- 12,958,934,197.00
RMB -- -- 9,733,977,501.00 -- -- 12,330,720,843.00
USD 211,663,070.00 6.3249 1,338,747,752.00 97,535,602.00 6.3009 614,562,072.00
HKD 1,214,927.00 0.8152 990,433.00 1,214,884.00 0.8107 984,906.00
JPY 718,187,337.00 0.0796 57,202,185.00 121,155,539.00 0.0811 9,828,752.00
KRW 968,451,572.00 0.0055 5,359,411.00 253,875,188.00 0.0055 1,390,220.00
EUR 135,921.00 7.871 1,069,838.00 910.00 8.1622 7,427.00
TWD 4,464,425.00 0.2127 949,676.00 6,922,965.00 0.208 1,439,977.00
SGD 53,731.00 4.969 266,989.00 4.8682
Other monetary funds: -- -- 4,436,406,948.00 -- -- 7,365,935,446.00
RMB -- -- 4,091,235,412.00 -- -- 7,263,622,285.00
USD 53,049,598.00 6.3249 335,533,403.00 15,991,396.00 6.3009 100,760,186.00
JPY 121,009,103.00 0.0796 9,638,133.00 19,148,195.00 0.0811 1,552,975.00
Total -- -- 15,575,508,881.00 -- -- 20,325,469,116.00
Special explanation shall be made for the accounts limited by being mortgaged, pledged or frozen, deposited
overseas or with potential collecting risks:
On 30 Jun. 2012, the Group pledged RMB 2,139,056,841 and USD 34,839,656 under other monetary funds to
gain a loan of JPY 21,684,727,809 and USD 54,215,948; the remaining other monetary funds valued RMB
2,076,992,769 (as of 31 Dec. 2011: RMB 3,354,535,563) was the warranty deposit deposited in commercial
banks.
2. Trading financial assets
(1) Trading financial assets
Naught
(2) Trading financial assets with realizable limit
Naught
(3) Hedging instruments and notes to relevant hedging transaction
Naught
107
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
3. Notes receivable
(1) Category of notes receivable
Unit: RMB Yuan
Category Closing balance Opening balance
Bank acceptance bill 536,086,837.00 304,866,896.00
Commercial acceptance bill 15,397,848.00 35,427,101.00
0.00
Total 551,484,685.00 340,293,997.00
(2) Notes receivable pledged at period-end
Unit: RMB Yuan
Issuing entity Date of issuance Expiring date Amount Remark
Shaoxing Kelaiduo
5 Jan. 2012 5 Jul. 2012 400,000.00 Bank acceptance bill
Textiles Co., Ltd.
Bangbu Tianyang
Hardware Co., Ltd. of 13 Jan. 2012 13 Jul. 2012 300,000.00 Bank acceptance bill
Anhui Tianyang Group
Bangbu Tianyang
Hardware Co., Ltd. of 9 Mar. 2012 8 Sept. 2012 300,000.00 Bank acceptance bill
Anhui Tianyang Group
Hainan Xinxing
29 Feb. 2012 29 Aug. 2012 223,500.00 Bank acceptance bill
Appliance Co., Ltd.
Dongfeng Xiaokang
13 Jan. 2012 12 Jul. 2012 220,000.00 Bank acceptance bill
Motor Co., Ltd.
Total -- -- 1,443,500.00 --
Note:
Naught
(3) Notes transferred to accounts receivable because drawer of the notes fails to execute the contract or
agreement, and undue notes endorsed to other parties at the end of the period
Unit: RMB Yuan
Issuing entity Date of issuance Expiring date Amount Remark
Naught
Total -- -- 0.00 --
Notes:
Undue notes endorsed to other parties by the Company
Unit: RMB Yuan
Issuing entity Date of issuance Expiring date Amount Remark
ZTE Mobile Telecom
28 May 2012 28 Oct. 2012 21,551,018.00 Bank acceptance bill
Co., Ltd.
108
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
ZTE Corporation 22 Feb. 2012 26 Jul. 2012 20,000,000.00 Bank acceptance bill
ZTE Corporation 20 Mar. 2012 28 Aug. 2012 20,000,000.00 Bank acceptance bill
ZTE Mobile Telecom
28 Feb. 2012 28 Jul. 2012 19,831,491.00 Bank acceptance bill
Co., Ltd.
Huizhou BYD Electrics
31 May 2012 31 Aug. 2012 19,276,308.00 Bank acceptance bill
Co., Ltd.
Total -- -- 100,658,817.00 --
Note:
Naught
Notes of commercial acceptance bill that already discounted or pledged:
Naught
4. Dividends receivable
Naught
5. Interest receivable
(1) Interest receivable
Unit: RMB Yuan
Increase in current Decrease in current
Item Opening balance Closing balance
period period
Bank deposit interest 105,243,519.00 119,487,219.00 178,489,279.00 46,241,459.00
Total 105,243,519.00 119,487,219.00 178,489,279.00 46,241,459.00
(2) Overdue interest
Naught
(3) Notes to interest receivable
On 30 Jun. 2012, there was no interest receivable due to shareholders holding 5% (including 5%) voting rights of
the Company (Y2011: naught).
On 30 Jun. 2012, the Group had no individually significant overdue interest receivable (Y2011: naught).
On 30 Jun. 2012, the Group had no individually significant interest receivable in foreign currency (Y2011:
naught).
6. Accounts receivable
(1) Accounts receivable listed by categories
Unit: RMB Yuan
Category Closing balance Opening balance
109
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Book balance Bad debt provision Book balance Bad debt provision
Proportion Proportion Proportion Proportion
Amount Amount Amount Amount
(%) (%) (%) (%)
Accounts receivable with
significant single amount
1,820,572,0 3,882,861.0 906,924,3
and individually 54% 0% 35% 3,882,861.00 0%
96.00 0 39.00
withdrawn bad debt
provision
Accounts receivable for which bad debt provisions are made on the group basis
Subtotal of the groups 0.00 0% 0.00 0.00 0% 0.00 0%
Accounts receivable with
insignificant single
1,582,257,1 12,557,560. 1,670,318 12,564,179.0
amount and individually 46% 1% 65% 1%
38.00 00 ,246.00 0
withdrawn bad debt
provision
3,402,829,2 16,440,421. 2,577,242 16,447,040.0
Total -- -- -- --
34.00 00 ,585.00 0
Notes to category of accounts receivable:
Monetary standards of the individually significant accounts receivable is the amount reaching 5% of the account
balance.
Accounts receivable with significant single amount and individually withdrawn bad debt provision
√Applicable □Inapplicable
Unit: RMB Yuan
Provision for bad Withdrawing
Content of accounts receivable Book balance Reason
debt proportion（%）
Calculated by
Canada PTL Corporation 3,882,861.00 3,882,861.00 100%
collectable amount
Calculated by
Other 1,816,689,235.00 0.00 0%
collectable amount
Total 1,820,572,096.00 3,882,861.00 --
In the groups, accounts receivable adopting aging analysis method to withdraw bad debt provision:
□Applicable √Inapplicable
In the groups, accounts receivable adopting balance percentage method to withdraw bad debt provision
□Applicable√ Inapplicable
In the groups, accounts receivable adopting other methods to withdraw bad debt provision
□Applicable√ Inapplicable
Other closing individually insignificant but provisions for bad debts individually accounts receivable:
√Applicable □Inapplicable
Unit: RMB Yuan
Content of accounts Withdrawing proportion
Book balance Provision for bad debt Reason
receivable （%）
Inner Mongolia Mobile Calculated by collectable
715,000.00 715,000.00 100%
Digital TV Co.,ltd. amount
110
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Sichuan Mobile Digital Calculated by collectable
238,800.00 238,800.00 100%
TV Co., Ltd. amount
Baoding Yitaike Electric Calculated by collectable
252,700.00 252,700.00 100%
Equipment Co., Ltd. amount
Calculated by collectable
Other 1,581,050,638.00 11,351,060.00 1%
amount
Total 1,582,257,138.00 12,557,560.00 1% --
(2) Accounts receivable reversed or collected in the reporting period
Naught
(3) The write-off accounts receivable
Naught
(4) Particulars about accounts receivable due to shareholders holding 5% (including 5%) voting rights of
the Company
□Applicable√ Inapplicable
(5) Information of top 5 accounts receivable:
Unit: RMB Yuan
The relationship with the
Name of entity Amount Aging Proportion
Company
Samsung Electronics
Non-related party 703,364,848.00 Within one year 21%
Co., Ltd.
Konka Group Co., Ltd. Non-related party 111,082,494.00 Within one year 3%
BEIJING GEHUA CATV
Non-related party 73,205,473.00 Within one year 2%
NETWORK CO., LTD
ZTE Kangxun Telecom
Non-related party 68,419,714.00 Within one year 2%
Company. Limited
Lenovo Mobile Telecom
Non-related party 67,369,076.00 Within one year 2%
Co., Ltd.
Total -- 1,023,441,605.00 -- 30%
(6) The amounts due from related parties
Unit: RMB Yuan
The relationship with the
Name of entity Amount Proportion
Company
Beijing Electronics Holding Ultimate controller and its 630,000.00 0.02%
111
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Co., Ltd. and its affiliated affiliated enterprises
enterprises
Beijing Nissin Electronics
Precision Component Co., Associated enterprise 670,000.00 0.02%
Ltd.
Beijing Nittan Electronics
Associated enterprise 400,000.00 0.01%
Co., Ltd.
Total -- 1,700,000.00 0.05%
(7) Information of accounts receivable that terminated recognition
Naught
(8) If securitization is carried out on accounts receivable as the underlying assets, please list amount of
assets and liabilities arising from further involvement
Naught
7. Other accounts receivable
(1) Other accounts receivable disclosed by type:
Unit: RMB Yuan
Closing balance Opening balance
Category Book balance Provision for bad debts Book balance Provision for bad debts
Proportio Proportio Proportion Proportio
Amount Amount Amount Amount
n (%) n (%) (%) n (%)
Other accounts
receivable that is
1,599,900,00 1,599,900,00
individually significant 89% 0.00 92% 0.00
0.00 0.00
and provisions for bad
debts individually
Other accounts receivable that provisions for bad debts by group
Subtotal of group 0.00 0% 0.00 0.00 0% 0.00
Other accounts
receivable that is
201,808,209. 11,356,834.0 146,325,797.
individually insignificant 11% 6% 8% 10,400,913.00 7%
00 0 00
but provisions for bad
debts individually
1,801,708,20 11,356,834.0 1,746,225,79
Total -- -- -- 10,400,913.00 --
9.00 0 7.00
Notes to category of other accounts receivable:
112
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Monetary standards of the individually significant other accounts receivable is the amount reaching 5% of the
account balance.
Other accounts receivable with significant single amount and individually withdrawn bad debt provision
√Applicable □Inapplicable
Unit: RMB Yuan
Content of other accounts Withdrawing proportion
Book balance Bad debt amount Reason
receivable （%）
Beijing Industrial
Calculated by collectable
Developing Investment 1,349,900,000.00
amount
Management Co., Ltd.
Beijing Haohua Energy Calculated by collectable
250,000,000.00
Resource Co., Ltd. amount
Total 1,599,900,000.00 0.00 -- --
In the groups, other accounts receivable adopting aging analysis method to withdraw bad debt provision:
□Applicable √Inapplicable
In the groups, other accounts receivable adopting balance percentage method to withdraw bad debt provision
□Applicable√ Inapplicable
In the groups, other accounts receivable adopting other methods to withdraw bad debt provision
□Applicable√ Inapplicable
Other closing individually insignificant but provisions for bad debts individually other accounts receivable:
√Applicable □Inapplicable
Unit: RMB Yuan
Content of other accounts Withdrawing proportion
Book balance Provision for bad debt Reason
receivable （%）
Beijing Shiyuanda
Calculated by collectable
Electronics Technology 1,355,929.00 1,355,929.00 100%
amount
Co., Ltd.
DONGWOO Calculated by collectable
2,099,519.00 2,099,519.00 100%
FINE-CHEM CO.,LTD. amount
MARUBENI Calculated by collectable
2,297,756.00 2,297,756.00 100%
(SHANGHAI) CO.,LTD. amount
Other 196,055,005.00 5,603,630.00 3%
Total 201,808,209.00 11,356,834.00 6% --
(2) Information of other accounts receivable reversed or recovered in the reporting period
Notes of individually insignificant but was of big risk after grouped by credit risk other accounts receivable:
Naught
(3) Information of other accounts receivable written off in the reporting period
113
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Naught
(4) Other accounts receivable is due from shareholders with more than 5% (including 5%) of the voting
shares of the Company
□Applicable √Inapplicable
(5) Nature or details of other significant accounts receivable
Unit: RMB Yuan
Nature or details of the
Name of entity Amount Proportion of the total (%)
amount
Beijing Industrial Developing
Investment Management Co., 1,349,900,000.00 Equity transfer account 75%
Ltd.
Beijing Haohua Energy
250,000,000.00 Equity transfer account 14%
Resource Co., Ltd.
Total 1,599,900,000.00 -- 89%
Notes:
The above account is the equity transfer account of Ordos BOE Energy Investment Co., Ltd..
(6) Information of top five other accounts receivable
Unit: RMB Yuan
Relationship with the Proportion of the total
Name of entity Amount Aging
Company (%)
Beijing Industrial
Developing Investment Non-related party 1,349,900,000.00 Within one year 75%
Management Co., Ltd.
Beijing Haohua Energy
Non-related party 250,000,000.00 Within one year 14%
Resource Co., Ltd.
Beijing Land Reserve
Non-related party 29,613,195.00 Within one year 2%
Centre
BEIJING GEHUA CATV
Non-related party 16,714,200.00 Within one year 1%
NETWORK CO., LTD
China Construction Third
Engineering Joint-stock Non-related party 16,317,957.00 Within one year 1%
Ltd.
Total -- 1,662,545,352.00 -- 93%
(7) Information of the amounts due from related parties
Naught
114
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
(8) Information of other accounts receivable that terminated recognition
Naught
(9) If securitization is carried out on other accounts receivable as the underlying assets, please list amount
of assets and liabilities arising from further involvement
Naught
8. Prepayment
(1) List by aging analysis:
Unit: RMB Yuan
Closing balance Opening balance
Aging Proportion Proportion
Amount Amount
(%) (%)
Within 1 year 150,124,379.00 97% 62,028,366.00 96%
1 year to 2
4,137,619.00 3% 2,642,685.00 4%
years
2 years to 3
370,416.00 120,902.00
years
Over 3 years 1,575.00 7,632.00
Total 154,633,989.00 -- 64,799,585.00 --
Notes of aging of prepayment:
(2) Information of the top 5 prepayment
Unit: RMB Yuan
Relationship with the
Name of entity Amount Aging Reason for unsettled
Company
Beijing Electric Power
Non-related party 50,467,440.00
Corporation
Hefei Power Supply
Company under Anhui
Non-related party 17,242,955.00
Electric Power
Corporation
Dongguan Branch of
ShenZhen Cultraview
Non-related party 13,630,286.00
Digital Technology Co.,
Ltd.
115
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Chengdu Branch of
Kerry EAS Logistics Co., Non-related party 13,000,000.00
Ltd.
Taiwan Top Electronics
Non-related party 10,625,200.00
Co., Ltd.
Total -- 104,965,881.00 -- --
Notes of important companies of prepayment:
Naught
(3) Information about amount due from shareholders with more than 5% (including 5%) of the voting
shares of the Company in prepayment
□ Applicable √ Inapplicable
(4) Notes of prepayment
On 30 Jun. 2012, the Group’s prepayments over one year are those unsettled account during the procurement
process.
9. Inventory
(1) Category
Unit: RMB Yuan
Closing balance Opening balance
Item Impairment of Impairment of
Book balance Book value Book balance Book value
inventories inventories
Raw materials 1,124,852,445.00 174,798,088.00 950,054,357.00 997,314,148.00 145,917,538.00 851,396,610.00
Construction
409,920,626.00 54,586,606.00 355,334,020.00 309,464,795.00 64,214,708.00 245,250,087.00
contract assets
Inventory goods 1,510,556,928.00 339,719,630.00 1,170,837,298.00 1,348,337,963.00 417,867,852.00 930,470,111.00
Turnover material 97,628,890.00 97,628,890.00 89,101,897.00 89,101,897.00
Consumable
biological assets
Total 3,142,958,889.00 569,104,324.00 2,573,854,565.00 2,744,218,803.00 628,000,098.00 2,116,218,705.00
(2) Impairment of inventories
Unit: RMB Yuan
Opening book Decrease
Category Increase Closing book balance
balance Reversal Written off
Raw materials 145,917,538.00 53,430,824.00 18,498,383.00 6,051,891.00 174,798,088.00
Construction contract 64,214,708.00 2,514,910.00 9,387,610.00 2,755,402.00 54,586,606.00
116
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
assets
Inventory goods 417,867,852.00 222,366,810.00 267,216,056.00 33,298,976.00 339,719,630.00
Turnover material
Consumable biological
assets
Total 628,000,098.00 278,312,544.00 295,102,049.00 42,106,269.00 569,104,324.00
(3) Details of provision for falling price of inventories
Proportion of reversal of
Basis on provision for falling
Item Reasons for reversal provision for impairment of
price of inventories
inventories to closing balance
The lower one of cost and
Increase of market price for the
Raw materials realizable net value for the 1.64%
products
products
The lower one of cost and
Increase of market price for the
realizable net value for the 17.69%
products
Inventory goods products
The lower one of cost and
Increase of market price for the
Construction contract assets realizable net value for the 2.29%
products
products
Turnover material
Consumable biological assets
Notes of inventory:
Naught
10. Other current assets
Unit: RMB Yuan
Item Closing balance Opening balance
To-be-deducted VAT 2,368,345,917.00 695,017,280.00
Income tax prepayment 746,777.00
Other 958,396.00 1,032,446.00
Total 2,369,304,313.00 696,796,503.00
Notes of other current assets:
Naught
11. Available-for-sale financial assets
(1) Information of available-for-sale financial assets
Unit: RMB Yuan
117
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Item Closing fair value Opening fair value
Available-for-sale bonds
Available-for-sale equity instruments 87,726,361.00 74,718,931.00
Others
Total 87,726,361.00 74,718,931.00
Notes of available-for-sale financial assets:
On 30 Jun. 2012, the Group’s available-for-sale financial assets include stock investment on TPV Technology Co.,
Ltd. (hereinafter referred to as ―TPV Technology‖) and Beijing Electronic Zone Investment And Development Co.,
Ltd. (hereinafter referred to as ―Electronic Zone‖), and relevant closing balance is measured at fair value.
(2) Long-term liability investment of available-for-sale financial assets
Naught
12. Held-to-maturity investment
(1) Information
Unit: RMB Yuan
Item Closing book balance Opening book balance
Convertible bonds for HYDIS
17,960,946.00 17,960,946.00
Technology
Provision for impairment of
-17,960,946.00 -17,960,946.00
held-to-maturity investment
Total 0.00 0.00
Note:
The held-to-maturity investment of the Group and the Company was the originally held convertible bonds of
HYDIS Technology Co., Ltd. (hereinafter referred to as ―HYDIS Technology‖).
Due to poor operation, HYDIS Technology couldn’t pay the remaining convertible bonds to the Company. The
Company had withdrawn the provision for impairment of uncollected convertible bonds valued USD 2,170,000 in
2005.
On 30 Jun. 2012, the Company had not received any equities or interest, the collectability of such bonds had
uncertainty, so the Group and the Company maintained the original withdrawn impairment provision.
(2) Information of held-to-maturity investment sold in the reporting period but was not matured
Naught
13. Long-term accounts receivable
Naught
118
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
14. Investment to joint ventures and associated enterprises
Unit: RMB Yuan
Percenta Voting Total
Net
ge of percenta operatio
Nature Total profit of
Name Registra Legal Nature Register holding ge of Total Net n
of Currenc closing the
of tion represen of ed shares the closing closing revenue
enterpri y liabilitie reportin
investee place tative business capital of the Compan assets assets of the
ses s g
Compan y in reportin
period
y investee g period
I. Joint ventures
Technol
ogy
develop
ment,
investm
ent
consulta
ncy, real
estate
informat
ion
Beijing
consulta
Dongfa
ncy,
ng
investm
Hengton
Limited ent
g Li
liability Beijing, advising 5,000,0 4,238,7 4,238,7 -62,751.
Technol Hongsh CNY 50% 50% 0.00 0.00
compan China , 00.00 46.00 46.00 00
ogy an
y enterpri
Develop
se
ment
image
Co.,
plan,
Ltd.
enterpri
se
manage
ment
consulta
ncy;
sales of
construc
tion
material
s
II. Associated enterprises
119
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Beijing Develop
Nissin ment
Electron and
ics producti
Precisio on of
Limited
n electron
liability Beijing, Liang 10,100, 134,023 102,653 31,370, 14,470, -14,105,
Compon gun and USD 35.6% 35.6%
compan China Xinqing 000.00 ,178.00 ,135.00 043.00 530.00 480.00
ent Co., relevant
y
Ltd. parts;
（Nissi sales of
n self-pro
Electron duced
ics） products
Develop
ment
and
producti
Beijing on of
Nittan terminal
Electron s,
Limited
ics Co., connect
liability Beijing, Liang 2,000,0 70,514, 35,144, 35,370, 43,193, -664,29
Ltd. ors, USD 40% 40%
compan China Xinqing 00.00 886.00 448.00 438.00 799.00 2.00
（Nitta crimpin
y
n g
Electron machine
ics） ; sales
of
self-pro
duced
products
Beijing
Yingfe Investm
i ent
Hailin manage
Ventur ment,
e Limited assets
Wang
Capital liability Beijing, manage 1,000,0 75,071. 184,511. -109,44 -1,109,4
Dongsh CNY 35% 35% 0.00
Manag compan China ment 00.00 00 00 0.00 40.00
eng
ement y and
Co., investm
Ltd ent
（Ying consulta
fei ncy
Hailin
120
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
）
Ordos
BOE
Energy
Invest
Other
ment
limited Energy
Co., Ordos, Shi 30,000, 9,684,3 202,077 9,482,3 -498,39
liability investm CNY 20% 20% 0.00
Ltd. China Youwen 000.00 87.00 .00 10.00 1.00
compan ent
（BO
y
E
Energy
Invest
ment）
Notes if significant differences exist between the important accounting policies and accounting estimations of
joint ventures, associated enterprises and the Company:
Naught
15. Long-term equity investment
121
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
(1) List of long-term equity investment
Unit: RMB Yuan
Explanation for
indifferences
Withdrawn
between the
Share holding Voting impairment Cash bonus in
Accounting Initial Opening Increase/decrea share holding Impairment
Investee Closing balance percentage in percentage in provision in the the reporting
method investment cost balance se percentage and provision
investee investee reporting period
voting
period
percentage in
investee
Beijing
Dongfang
Hengtong
Equity method 2,500,000.00 2,150,749.00 -31,376.00 2,119,373.00 50% 50% 0.00 0.00 0.00
Technology
Development
Co., Ltd.
Beijing Nissin
Electronics
Precision
Component Equity method 18,613,234.00 9,008,337.00 -5,021,551.00 3,986,786.00 35.6% 35.6% 0.00 0.00 0.00
Co., Ltd.
（Nissin
Electronics）
Beijing Nittan
Electronics
Equity method 6,650,640.00 14,364,270.00 -265,717.00 14,098,553.00 40% 40% 0.00 0.00 0.00
Co., Ltd.
（Nittan
122
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Electronics）
Julong
Electronics
Co., Ltd. Equity method 8,000,000.00 6,819,271.00 -6,819,271.00 0.00 40% 40% 0.00 0.00 0.00
(Julong
Electronics)
BeijingYingfei
Hailin Venture
Capital
Management Equity method 350,000.00 348,546.00 -348,546.00 0.00 35% 35% 0.00 0.00 0.00
Co., Ltd
（Yingfei
Hailin）
Ordos BOE
Energy
Investment Co.,
Equity method 2,000,000.00 900,000,000.00 -99,678.00 899,900,322.00 20% 20% 0.00 0.00 0.00
Ltd.（BOE
Energy
Investment）
Beijing
Municipal
Administration
& Cost method 2,500,000.00 2,500,000.00 0.00 2,500,000.00 2.5% 2.5% 0.00 0.00 0.00
Communicatio
ns Card Co.,
Ltd.
Teralane
Cost method 11,868,000.00 11,868,000.00 0.00 11,868,000.00 7.29% 7.29% 0.00 0.00 0.00
Semiconductor
123
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Inc
National
Engineering
Laboratory for Cost method 6,250,000.00 6,250,000.00 0.00 6,250,000.00 12.5% 12.5% 0.00 0.00 0.00
Digital TV(Beij
ing)
Hefei Xincheng
Optoelectronics Cost method 5,000,000.00 5,000,000.00 0.00 5,000,000.00 10% 10% 0.00 0.00 0.00
Technology
Zhejiang BOE
Display
Cost method 570,032.00 570,032.00 0.00 570,032.00 7.03% 7.03% 0.00 0.00 0.00
Technology
Ltd.
Other Cost method 280,000.00 280,000.00 0.00 280,000.00 0% 0% 280,000.00 0.00 0.00
Total -- 64,581,906.00 959,159,205.00 -12,586,139.00 946,573,066.00 -- -- -- 280,000.00 0.00 0.00
124
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
(2) Information of the limitation on the capability to transfer capital to investee
Naught
16. Investment property
(1) Investment property calculated by cost
√ Applicable □Inapplicable
Unit: RMB Yuan
Item Opening book balance Increase Decrease Closing book balance
I. Total cost 1,465,526,839.00 341,059.00 4,761,599.00 1,461,106,299.00
1. Property and
805,747,622.00 341,059.00 4,761,599.00 801,327,082.00
buildings
2. Land use right 659,779,217.00 659,779,217.00
II Accumulated
depreciation and 124,541,850.00 19,550,464.00 1,592,182.00 142,500,132.00
amortization
1. Property and
96,336,562.00 12,934,248.00 1,592,182.00 107,678,628.00
buildings
2. Land use right 28,205,288.00 6,616,216.00 34,821,504.00
III. Total net book
value of investment 1,340,984,989.00 - 1,318,606,167.00
real estate
1. Property and
709,411,060.00 - 693,648,454.00
buildings
2. Land use right 631,573,929.00 - 624,957,713.00
IV. Accumulated
amount of provision
0.00 - 0.00
for impairment of
investment real estate
1. Property and
-
buildings
2. Land use right -
V. Total book value of
1,340,984,989.00 - 1,318,606,167.00
investment real estate
1. Property and
709,411,060.00 - 693,648,454.00
buildings
2. Land use right 631,573,929.00 - 624,957,713.00
125
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Unit: RMB Yuan
The reporting period
Amount of amortization and depreciation in the reporting period 19,550,464.00
Withdrawal amount of provision for impairment of investment real estate
in the reporting period
(2) Investment real estate measured by fair value
√Applicable □Inapplicable
Explanation on investment real estates that changed the measurement method and have not completed to handle
the property right certificate during the reporting period, and relevant explanation on the reason for failing to
complete to handle the property right certificate and the expected completion time:
Naught
17. Fixed assets
(1) Fixed assets details
Unit: RMB Yuan
Opening book Decrease in the Closing book
Item Increase in the reporting period
balance reporting period balance
I. Total original book value 38,456,675,016.00 4,050,183,296.00 25,767,214.00 42,481,091,098.00
Including: Property and
9,269,133,267.00 7,869,786.00 9,542,110.00 9,267,460,943.00
building
Machineries 29,073,410,901.00 4,006,172,111.00 14,583,025.00 33,064,999,987.00
Vehicles 114,130,848.00 36,141,399.00 1,642,079.00 148,630,168.00
Closing book
Opening book Increase in the Withdrawal in the Decrease in the
-- balance in current
balance reporting period reporting period reporting period
period
II. Accumulated
9,332,014,894.00 0.00 1,648,245,940.00 11,907,010.00 10,968,353,824.00
depreciation
Including: Property and
477,101,930.00 155,884,864.00 1,072,009.00 631,914,785.00
building
Machineries 8,824,538,707.00 1,480,059,279.00 10,052,896.00 10,294,545,090.00
Vehicles 30,374,257.00 12,301,797.00 782,105.00 41,893,949.00
Opening book Closing balance in
-- --
balance current period
III. The net book value of
29,124,660,122.00 -- 31,512,737,274.00
fixed assets
Including: Property and
8,792,031,337.00 -- 8,635,546,158.00
building
Machineries 20,248,872,194.00 -- 22,770,454,897.00
126
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Vehicles 83,756,591.00 -- 106,736,219.00
--
IV. Total impairment
735,797,118.00 -- 737,204,155.00
provision
Including: Property and
1,038,901.00 -- 1,038,901.00
building
Machineries 734,758,217.00 -- 736,165,254.00
Vehicles --
--
V. Total book value of fixed
28,388,863,004.00 -- 30,775,533,119.00
assets
Including: Property and
8,790,992,436.00 -- 8,634,507,257.00
building
Machineries 19,514,113,977.00 -- 22,034,289,643.00
Vehicles 83,756,591.00 -- 106,736,219.00
--
Depreciation amount of this reporting period was RMB 1,648,245,940.00, RMB 3,905,177,685.00 was transferred
into fixed assets from construction project.
(2) Temporary idle fixed assets
Naught
(3) Fixed assets leased in from financing lease
√Applicable □Inapplicable
Unit: RMB Yuan
Item Book value Accumulated depreciation Net book value
Property and building 11,291,665.00 2,708,028.00 8,583,637.00
Machineries 0.00
Vehicles 0.00
(4) Fixed assets leased out from operation lease
□Applicable √ Inapplicable
(5) Information of hold-for-sale fixed assets at period-end
Naught
(6) Information of fixed assets failed to accomplish certification of property
Naught
18. Construction in progress
(1)
Unit: RMB Yuan
127
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Closing balance Opening balance
Item Impairment Impairment
Book balance Book value Book balance Book value
provision provision
The 8.5th Generation
4,886,969,383. 4,886,969,383. 8,160,563,599.
TFT-LCD Project of BOE 8,160,563,599.00
00 00 00
Display
The 6th Generation TFT-LCD
Project of Hefei 231,289,617.00 231,289,617.00 44,136,975.00 44,136,975.00
Optoelectronics
The 4.5th Generation
TFT-LCD Project of Chengdu 16,727,776.00 16,727,776.00 7,088,898.00 7,088,898.00
Optoelectronics
National Engineering
Laboratory for TFT-LCD 2,513,905.00 2,513,905.00
technology
AM-OLED Project of
445,218,888.00 445,218,888.00 60,547,475.00 60,547,475.00
Yuansheng Optoelectronics
Other 172,675,653.00 118,310.00 172,557,343.00 138,189,066.00 118,310.00 138,070,756.00
5,752,881,317. 5,752,763,007. 8,413,039,918.
Total 118,310.00 118,310.00 8,412,921,608.00
00 00 00
128
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
(2) Significant changes in construction in progress
Unit: RMB Yuan
Including:
Project input Capitalization
Name of Opening Transferred to Other Project Capitalization capitalization Source of Closing
Budget Increase percentage of of interest rate
project balance fixed assets decrease process of interest of interest funding balance
budget (%)
this period
The 8.5th
Generation Self-financing
20,803,000,00 8,160,563,599 484,198,027.0 3,757,792,243 756,868,088.0 423,520,392.0 4,886,969,383
TFT-LCD 0.00 99% 3.72% and raised
0.00 .00 0 .00 0 0 .00
Project of funds
BOE Display
The 6th
Generation
TFT-LCD Self-financing
16,000,000,00 220,316,661.0 126,503,941.0 231,289,617.0
Project of 44,136,975.00 33,164,019.00 0.00 78% and raised
0.00 0 0 0
Hefei funds
Optoelectroni
cs
The 4.5th
Generation
TFT-LCD Self-financing
3,133,610,000
Project of 7,088,898.00 72,138,171.00 62,499,293.00 0.00 98% 5,325,534.00 4,626,200.00 2.31% and raised 16,727,776.00
.00
Chengdu funds
Optoelectroni
cs
National 259,020,000.0 2,513,905.00 2,513,905.00 0.00 93% 100% Self-financing
129
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Engineering 0
Laboratory for
TFT-LCD
technology
AM-OLED
Project of
22,000,000,00 384,671,413.0 445,218,888.0
Yuansheng 60,547,475.00 0.00 2% Self-financing
0.00 0 0
Optoelectroni
cs
138,070,756.0 116,977,432.0 172,557,343.0
Other 82,490,845.00 0.00
0 0 0
62,195,630,00 8,412,921,608 1,278,301,704 3,938,460,305 888,697,563.0 5,752,763,007
Total 0.00 -- -- 428,146,592 -- --
0.00 .00 .00 .00 7 .00
Notes of significant changes in construction in progress:
Naught
130
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
(3) Impairment provision of construction in progress
Unit: RMB Yuan
Increase in the Decrease in the Reason for
Item Opening amount Closing balance
reporting period reporting period withdrawal
Installation and
reformation of 118,310.00 118,310.00
equipments
Total 118,310.00 0.00 0.00 118,310.00 --
(4) Information of procedures of significant construction in progress
Naught
(5) Notes of construction in progress
Naught
19. Engineering materials
Unit: RMB Yuan
Naught
20. Clearance of fixed assets
Unit: RMB Yuan
Naught 21. Productive biological assets
（1）Measured by cost
□Applicable √Inapplicable
（2）Measured by fair value
□Applicable √Inapplicable
22. Oil and gas assets
Naught
131
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
23. Intangible assets
(1) Information
Unit: RMB Yuan
Opening book Increase in the reporting Decrease in the reporting
Item Closing book balance
balance period period
I. Total original book
1,855,978,214.00 10,491,780.00 0.00 1,866,469,994.00
value
Land use right 472,366,679.00 472,366,679.00
Special technology 961,139,328.00 961,139,328.00
Patent 40,297,560.00 40,297,560.00
Computer software 382,174,647.00 10,491,780.00 392,666,427.00
II. Total accrued
400,884,512.00 60,843,262.00 0.00 461,727,774.00
amortization
Land use right 33,552,568.00 4,849,344.00 38,401,912.00
Special technology 243,217,910.00 33,440,234.00 276,658,144.00
Patent 7,556,850.00 1,926,711.00 9,483,561.00
Computer software 116,557,184.00 20,626,973.00 137,184,157.00
III. Total net book value of
1,455,093,702.00 - 1,404,742,220.00
intangible assets
Land use right 438,814,111.00 - 433,964,767.00
Special technology 717,921,418.00 - 684,481,184.00
Patent 32,740,710.00 - 30,813,999.00
Computer software 265,617,463.00 - 255,482,270.00
IV. Total impairment
424,308.00 - 424,308.00
provision
Land use right -
Special technology -
Patent -
Computer software 424,308.00 - 424,308.00
Total book value of
1,454,669,394.00 - 1,404,317,912.00
intangible assets
Land use right 438,814,111.00 - 433,964,767.00
Special technology 717,921,418.00 - 684,481,184.00
Patent 32,740,710.00 - 30,813,999.00
Computer software 265,193,155.00 - 255,057,962.00
Amortization was of RMB 60,843,262.00 in the reporting period.
(2) Company development expense
Unit: RMB Yuan
Item Opening balance Increase Decrease Closing balance
132
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Recognized into Recognized as
current gains/losses intangible assets
Labor cost 204,827,896.00 204,827,896.00
Raw materials cost 207,172,145.00 207,172,145.00
Depreciation
expense of fixed 49,394,059.00 49,394,059.00
assets
Long-term deferred
1,098,833.00 1,098,833.00
expenses
Amortization of
2,947,636.00 2,947,636.00
intangible assets
Other expenses 99,546,314.00 99,546,314.00
Total 0.00 564,986,883.00 564,986,883.00 0.00 0.00
The percentage of development expense accounted for 90% of the total expenditure of R&D projects in the
reporting period.
The percentage of the value of intangible assets formed from the internal R&D of the Company accounted for 0%
of the closing book value of intangible assets.
Based on the market environment and the implementation of the R & D project, the company's development
expense is recognized in current profit and loss.
(3) Information of intangible assets that failed to accomplish certification of property
Naught
24. Goodwill
Unit: RMB Yuan
Impairment
Name of investee or event that Increase in the Decrease in the
Opening balance Closing balance provision at
generated goodwill reporting period reporting period
period-end
Yinghe Century 42,940,434.00 0.00 0.00 42,940,434.00 0.00
Suzhou Gaochuang 8,562,464.00 0.00 0.00 8,562,464.00 0.00
BOE Optoelectronics 4,423,876.00 0.00 0.00 4,423,876.00 4,423,876.00
Total 55,926,774.00 0.00 0.00 55,926,774.00 4,423,876.00
Notes of test method of goodwill impairment and impairment withdrawal method:
Whether there is the indication of impairment or not, the Group shall estimate the recoverable amount of goodwill
at the end of each fiscal year. The Group amortizes the book value of goodwill in accordance with the situation of
related asset group or combination of asset groups gaining benefits from the synergy effect of enterprise merger,
then conducts the impairment test of goodwill basing on such situation.
25. Long-term amortization expense
Unit: RMB Yuan
133
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Amortization Reason for other
Item Opening balance Increase Other decrease Closing balance
balance decrease
Cost of operating
lease assets 3,000,028.00 1,745,350.00 1,254,678.00
improvement
Cost of
construction and
200,540,949.00 2,561,704.00 197,979,245.00
use of public
facilities
Other 19,860,498.00 20,729,809.00 5,957,160.00 34,633,147.00
Total 22,860,526.00 221,270,758.00 10,264,214.00 0.00 233,867,070.00 --
Notes of long-term amortization expense:
Naught
26. Deferred tax assets and liabilities
(1) Deferred tax assets and liabilities are not listed as the net value after offset
√ Applicable □ Inapplicable
Deferred tax assets and liabilities that already recognized
Unit: RMB Yuan
Item Closing balance Opening balance
Deferred income tax assets:
Provision for impairment of assets 2,582,435.00 2,355,101.00
Formation expenses
Deductible losses
Differences of depreciation and amortization 5,089.00 13,712.00
Employee payroll payable 276,329.00 276,329.00
Unrealized profit or loss of the Group 46,302,905.00 45,246,946.00
Subtotal 49,166,758.00 47,892,088.00
Deferred income tax liabilities:
Assessed value of transactional financial
instruments and derivative financial instruments
Variation in fair value of financial assets available
for sale recorded into capital reserves
Assessed value add of Matsushita Color CRT 239,304,101.00 241,936,082.00
Assessed value add of Gaochuang Assets 24,736,814.00 25,707,913.00
Long-term equity investment 134,700,000.00 134,700,000.00
Other 12,217,359.00 12,217,359.00
Subtotal 410,958,274.00 414,561,354.00
List of unrecognized deferred income tax assets
Unit: RMB Yuan
Item Closing balance Opening balance
134
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Deductible temporary difference 2,057,874,086.00 2,121,942,625.00
Deductible losses 4,980,443,693.00 3,942,760,960.00
Total 7,038,317,779.00 6,064,703,585.00
Deductible losses of unrecognized deferred income tax assets will due in the following years
Unit: RMB Yuan
Year Closing balance Opening balance Remark
2012 0.00 93,226,328.00
2013 405,386,953.00 407,075,600.00
2014 781,647,926.00 782,228,480.00
2015 1,152,953,309.00 1,153,378,219.00
2016 1,507,277,243.00 1,506,852,333.00
2017 1,133,178,262.00 0.00
Total 4,980,443,693.00 3,942,760,960.00 --
List of taxable differences and deductible differences items
Unit: RMB Yuan
Temporary differences amount
Item
Closing balance Opening balance
Taxable differences items
Assessed value add of Matsushita Color CRT 957,216,406.00 967,744,328.00
Assessed value add of Gaochuang Assets 98,947,255.00 102,831,652.00
Long-term equity investment 898,000,000.00 898,000,000.00
Other 46,879,472.00 46,879,472.00
Subtotal 2,001,043,133.00 2,015,455,452.00
Deductible differences item
Provision for impairment of assets 17,188,985.00 15,673,429.00
Differences of depreciation and amortization 33,924.00 91,411.00
Employee payroll payable 1,842,193.00 1,842,194.00
Unrealized profit or loss of the Group 195,607,340.00 180,987,788.00
Subtotal 214,672,442.00 198,594,822.00
(2) Deferred income tax assets and liabilities are listed as the net value after offset
□Applicable √ Inapplicable
Notes of deferred income tax assets and liabilities
27. List of provision for assets impairment
Unit: RMB Yuan
Opening book Decrease Closing book
Item Increase
balance Reversal Written off balance
I. Provision for bad debt 26,847,953.00 2,936,925.00 1,987,623.00 0.00 27,797,255.00
II. Provision for inventory
628,000,098.00 278,312,544.00 295,102,049.00 42,106,269.00 569,104,324.00
falling price
III. Impairment provision of
available-for-sale financial 150,099,655.00 0.00 0.00 0.00 150,099,655.00
assets
135
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
IV. Impairment provision of
17,960,946.00 0.00 0.00 0.00 17,960,946.00
held-to-maturity investment
V. Impairment provision of
280,000.00 0.00 0.00 0.00 280,000.00
long-term equity investment
VI. Impairment provision of
0.00 0.00 0.00 0.00 0.00
investment property
VII. Impairment provision of
735,797,118.00 3,951,134.00 2,544,097.00 737,204,155.00
fixed assets
VIII. Impairment provision of
0.00 0.00 0.00 0.00 0.00
engineering materials
IX. Impairment provision of
118,310.00 0.00 0.00 0.00 118,310.00
construction in progress
X. Impairment provision of
0.00 0.00 0.00 0.00
productive biological assets
Including: mature
0.00 0.00 0.00 0.00 0.00
productive biological assets
XI. Impairment provision of
0.00 0.00 0.00 0.00 0.00
oil gas assets
XII. Impairment provision of
424,308.00 0.00 0.00 0.00 424,308.00
intangible assets
XIII. Impairment provision of
4,423,876.00 0.00 0.00 0.00 4,423,876.00
goodwill
XIV. Others 0.00 0.00 0.00 0.00 0.00
1,507,412,829.0
Total 1,563,952,264.00 285,200,603.00 297,089,672.00 44,650,366.00
0
Notes of the list of assets impairment:
Naught
28. Other non-current assets
Unit: RMB Yuan
Item Closing balance Opening balance
Prepayment for procurement of fixed assets 205,612,970.00 25,439,024.00
Prepayment for technology approval contracts 567,639.00 40,000.00
Prepayment for construction 1,717,388.00 10,019,201.00
Other 40,804,693.00 35,182,924.00
Total 248,702,690.00 70,681,149.00
Notes of other non-current assets:
On 30 Jun. 2012, the other non-current assets of the Group and the Company were mainly the prepayment for
relevant items of forming non-current assets.
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
29. Short-term loan
(1)Category
Unit: RMB Yuan
Item Closing balance Opening balance
Pledge loan 1,692,338,207.00 3,227,404,067.00
Mortgage loan 17,120,374.00 10,000,000.00
Guarantee loan 0.00 0.00
Credit loan 515,378,266.00 3,249,789,443.00
Total 2,224,836,847.00 6,487,193,510.00
Notes of category of short-term loan:
As of 30 Jun. 2012:
(a) Land use right with a book value of RMB8,845,869 was used as a mortgage for a short term loan of RMB 10,000,000 in the
group.
(b) Notes receivable with a book value of RMB3,000,000 was used as a pledge for a short-term loan of RMB3,000,000 in the group.
(c) Plants and buildings with a book value of RMB33,081,916 and land use right of RMB871,528 was used as a mortgage for a
short-term loan of USD1,124,719 in the group.
(d) Monetary capital respectively with book value of RMB1,610,389,040 and USD34,839,656 is used as a pledge for short-term loan
of USD42,385,948 and JPY16,904,727,809 in the group.
(e) Accounts receivable with a book value of RMB84,313,175 was used as a pledge for a short-term loan of USD10,000,000 in the
group.
(f) Notes receivable with a book value of RMB5,520,785 and monetary capital with a book value of RMB6,895,159 were used as a
pledge for a short-term loan of USD1,830,000 in the group.
(g) There was no short-term loan of above mentioned balance from shareholders holding over 5% (including 5%) voting shares of the
Company.
(2) List of unsettled mature short-term loan
Naught
30. Trading financial liabilities
Naught
31. Notes payable
Unit: RMB Yuan
Category Closing balance Opening balance
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Trade acceptance bill 0.00 0.00
Bank acceptance bill 30,627,813.00 27,918,268.00
Total 30,627,813.00 27,918,268.00
RMB0.00 will be due in next fiscal period.
Notes of notes payable:
Naught
32. Accounts payable
(1)
Unit: RMB Yuan
Item Closing balance Opening balance
Accounts payable 4,495,407,684.00 3,630,464,475.00
Total 4,495,407,684.00 3,630,464,475.00
(2) The accounts payable to shareholders with more than 5% (including 5%) of the voting shares of the
Company
□Applicable √Inapplicable
Notes of the accounts payable aging over one year:
Naught
33. Advance from customers
(1)
Unit: RMB Yuan
Item Closing balance Opening balance
Receive in advance 417,560,487.00 186,069,735.00
Total 417,560,487.00 186,069,735.00
(2) Advanced from customers from shareholders with more than 5% (including 5%) of the voting shares of
the Company
□Applicable √Inapplicable
Notes of significant advance from customers aging over one year:
As of 30 Jun. 2012, there was no specific significant accounts receive in advance with aging of over 1 year.
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
34. Payroll payable
Unit: RMB Yuan
Item Opening book balance Increase Decrease Closing book balance
I. Salary, bonus,
233,465,878.00 795,023,542.00 844,300,983.00 184,188,437.00
allowance, subsidy
II. Employee welfare 0.00 68,002,102.00 68,002,102.00 0.00
III. Social insurance 26,980,707.00 99,727,605.00 92,969,184.00 33,739,128.00
Medical insurance
24,073,339.00 29,491,526.00 27,665,406.00 25,899,459.00
premiums
Endowment
2,174,791.00 60,515,076.00 56,377,815.00 6,312,052.00
insurance
Unemployment
408,786.00 4,464,029.00 4,336,162.00 536,653.00
insurance
Employment injury
185,488.00 2,752,765.00 2,496,772.00 441,481.00
insurance
Maternity insurance 138,303.00 2,504,209.00 2,093,029.00 549,483.00
IV. Housing fund 3,193,965.00 33,589,413.00 35,889,545.00 893,833.00
V. Redemption for
terminations of labor 15,479,100.00 183,105.00 129,884.00 15,532,321.00
contract
VI. Others 89,323,125.00 37,780,847.00 42,174,952.00 84,929,020.00
Labor union budget
and employee 71,969,458.00 23,329,795.00 28,551,872.00 66,747,381.00
education budget
Employee bonus and
15,443,238.00 1,671,969.00 871,550.00 16,243,657.00
welfare fund
Other 1,910,429.00 12,779,083.00 12,751,530.00 1,937,982.00
Total 368,442,775.00 1,034,306,614.00 1,083,466,650.00 319,282,739.00
RMB0.00 is the amounts in arrears in the payroll payable.
The labor union budget and employee education budget is RMB 28,551,872.00, and the non-monetary benefits are RMB0.00, as well
as the compensation for terminating the labour contract is RMB129,884.00.
The estimated distribution date and amount as well as other arrangements for payroll payable:
Naught
35. Taxes payable
Unit: RMB Yuan
Item Closing balance Opening balance
139
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
VAT 1,293,035.00 1,206,885.00
Consumption tax
Business tax 2,104,371.00 5,934,499.00
Corporate income tax 21,236,040.00 26,743,768.00
Personal income tax 7,186,447.00 9,383,749.00
Urban maintenance and construction tax 229,504.00 496,089.00
Other taxes and fares 277,997.00 3,573,555.00
Total 32,327,394.00 47,338,545.00
36. Interest payable
Unit: RMB Yuan
Item Closing balance Opening balance
Interest payable on long-term borrowings that interest
114,047,154.00 99,232,410.00
was paid by stages and principle was repay upon due
Interest of corporate bond
Interest payable on short-term borrowings 6,376,975.00 11,731,705.00
Total 120,424,129.00 110,964,115.00
Notes:
Naught
37. Dividends payable
Unit: RMB Yuan
Reason for unsettlement over 1
Name of company Closing balance Opening balance
year
Beijing Picture Tubes Factory 1,504,649.00 1,504,649.00 Naught
Beijing Huayin Industrial
1,436,963.00 1,436,963.00 Naught
Development Company
Internal employee’s shares 2,603,025.00 2,603,025.00 Naught
Other 2,506,533.00 906,533.00 Naught
Total 8,051,170.00 6,451,170.00 --
Notes:
As of 30 Jun. 2012, dividends payable is unpaid mainly because non-current shareholders didn’t claim relevant dividends.
As of 30 Jun. 2012, there was no single significant dividends payable marked on foreign currency.
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
38. Other accounts payable
(1)
Unit: RMB Yuan
Item Closing balance Opening balance
Other accounts payable 3,712,075,555.00 4,285,822,157.00
Total 3,712,075,555.00 4,285,822,157.00
(2) Other accounts payable from shareholders with more than 5% (including 5%) of the voting shares of
the Company
□Applicable √Inapplicable
(3) Notes of the other large amount accounts payable aging over 1 year
Naught
(4) Notes of other accounts payable with significant amount
Naught
39. Estimated liabilities
Unit: RMB Yuan
Item Opening balance Increase Decrease Closing balance
External offering
guarantee
Unsettled lawsuit
Product quality guarantee
Responsibility of
reorganization
Dismissal welfare
Loss contract to be
executed
Treaty to be executed 30,080,844.00 30,080,844.00
Other 0.00 0.00
Total 30,080,844.00 0.00 0.00 30,080,844.00
Notes:
In 2009, the Group ceased producting serveral products and stopped fulfilling the purchase contract related to production. Due to the
indemnity incurred accordingly, the Group withdrew the relevant estimmated liabilities according to reasonable estimation of losse.
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
As the amount of estimated liabilities has uncertainty, the profit and loss might be affected if the estimation of the estimated
liabilities changes.
40. Non-current liabilities due within 1 year
(1)
Unit: RMB Yuan
Item Closing balance Opening balance
Long-term loan due within 1 year 1,834,719,878.00 1,716,776,716.00
Bonds payable due within 1 year 0.00 0.00
Long-term accounts payable due within 1 year 0.00 0.00
Total 1,834,719,878.00 1,716,776,716.00
(2)Long-term loan due within 1 year
Long-term loan due within 1 year
Unit: RMB Yuan
Item Closing balance Opening balance
Pledge loan 380,717,440.00 389,280,000.00
Mortgage loan 15,000,000.00 15,000,000.00
Guarantee loan 0.00 0.00
Credit loan 50,000,000.00 100,000,000.00
Mortgage and guarantee 1,389,002,438.00 1,212,496,716.00
Total 1,834,719,878.00 1,716,776,716.00
RMB0.00 of long-term loan due within 1 year was of mature loan with extended term.
Top five long-term loan due within 1 year
Unit: RMB Yuan
Closing balance Opening balance
Foreign Foreign
Creditor Starting date Ending date Currency Rate (%)
currency RMB balance currency RMB balance
balance balance
Chengjian
Branch of
461,175,009. 288,914,684.
China 8 Apr. 2005 7 Apr. 2013 CNY 6.8%
00 00
Construction
Bank
Beijing 8 Apr. 2005 7 Apr. 2013 USD 2.27% 57,142,857.0 361,422,857. 34,135,021.0 215,081,352.
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Branch of 0 00 0 00
China
Development
Bank
The Royal
Bank of
2,390,000,00 190,358,720. 2,400,000,00 194,640,000.
Scotland 16 Dec. 2010 16 Jul. 2012 JPY 2.4%
0.00 00 0.00 00
Beijing
Branch
The Royal
Bank of
2,390,000,00 190,358,720. 2,400,000,00 194,640,000.
Scotland 7 Apr. 2011 7 Nov. 2012 JPY 2.4%
0.00 00 0.00 00
Beijing
Branch
Beijing
Branch of
27,000,000.0 170,772,300. 27,000,000.0 170,124,300.
China 29 Oct. 2008 29 Oct. 2012 USD 4.24%
0 00 0 00
Development
Bank
1,374,087,60 1,063,400,33
Total -- -- -- -- -- --
6.00 6.00
RMB000 was paid back after Balance Sheet Date:
Notes of long-term borrowings due within 1 year:
As of 30 Jun. 2012:
(a) For information of colleteral of non-current liabilities due within 1 year of the Group, see to Note. –Long-term loan.
(b) As for non-current liablitiies due within 1 year of the Group, an amount of JPY4,780,000,000 was gain by the pledge of monetary
capital with a book value of RMB521,772,642.
(c) There was no non-current liabilities due within 1 year from shareholders with over 5% (including 5%) voting equity of the
Company.
(3)Bonds payab
Naught
(4)Long-term accounts payable due within 1 year
Naught
41. Other current liabilities
Unit: RMB Yuan
143
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Item Closing book balance Opening book balance
Product quality assurance deposit 52,108,874.00 88,652,956.00
Total 52,108,874.00 88,652,956.00
Notes: As of 30 Jun. 2012 and 31 Dec. 2011, balance of other current liabilities of the Group was all product quality assurance
deposit for products assumed.
The product quality assurance deposit mainly related to the products after-sales repair warranty to customers. The provision of such
estimated liabilities was reasonabley estimated by the Management, based on historical acutal repoair expenses and current actual
sales outcomes.
42. Long-term loan
(1)Category of long-term loan
Unit: RMB Yuan
Item Closing balance Opening balance
Pledge loan 0.00 0.00
Mortgage loan 15,648,736,946.00 11,771,621,666.00
Guarantee loan 0.00 0.00
Credit loan 200,000,000.00 200,000,000.00
Mortgage and guarantee 2,246,068,450.00 2,728,396,708.00
Total 18,094,805,396.00 14,700,018,374.00
As at 30 Jun. 2012:
(a) The Group’s long-term loans, amounting to RMB81,629,373 and USD154,378,058, and non-current liabilities
due within one year, amounting to RMB613,364,256 and USD79,505,744, were gained by mortgaging the plants
and buildings with a carrying amount of RMB640,492,650, machinery equipment of RMB2,185,018,704 and land
use right of RMB9,148,600, which were partially guaranteed by Beijing Electronics Holding Co., Ltd..
(b) The Group’s long-term loans, amounting to RMB448,000,000 and USD117,000,000, and non-current
liabilities due within one year, amounting to RMB102,000,000 and USD27,000,000, were gained by mortgaging
the plants and buildings with a carrying amount of RMB143,999,69, machinery equipment of RMB1,341,286,706
and land use right of RMB14,122,422, of which the Renminbi loans were guaranteed by CDHT Investment Group
Co., Ltd., while the U.S. Dollar loans were guaranteed by Chengdu Industry Investment Group Co., Ltd. and
CDHT Investment Group Co., Ltd..
(c) The Group’s long-term loans, amounting to RMB2,690,600,000 and USD635,540,000, were gained by
mortgaging the plants and buildings with a carrying amount of RMB2,230,980,919, machinery equipment of
RMB 8,272,000,064 and land use right of RMB90,672,635.
(d) The Group’s long-term loans, amounting to RMB5,074,720,000 and USD600,000,000, were gained by
mortgaging the plant and buildings with a carrying amount of RMB4,999,309,735, machinery equipment of
RMB9,979,259,552, construction in process of RMB4,893,394,384 and land use right of RMB168,934,529.
(e) The Group’s long-term loans with amount of RMB68,750,000 and non-current liabilities due within 1 year
with the amount of RMB15,000,000 were gained by mortgaging the investment property with a carrying amount
of RMB192,121,254.
(f) No amount due to shareholders who hold 5% or more of the voting rights of the Company was included in the
144
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
above balance of long-term loans.
(2)The top five long-term loans
Unit: RMB Yuan
Closing balance Opening balance
Foreign Foreign
Creditor Starting date Ending date Currency Rate (%)
currency RMB amount currency RMB amount
amount amount
Beijing
Branch of
600,000,000. 3,794,940,00 127,867,079. 805,677,680.
China 27 Jan. 2011 26 Jan. 2020 USD 3.65%
00 0.00 00 00
Development
Bank
Anhui
Branch of
542,670,000. 3,432,333,48 542,670,000. 3,419,309,40
China 9 Jul. 2010 9 Jul. 2019 USD 3.93%
00 3.00 00 3.00
Development
Bank
Beijing
Branch of
2,006,040,00 2,006,040,00
China 27 Jan. 2011 26 Jan. 2020 CNY 6.8%
0.00 0.00
Development
Bank
Develop zone
branch of the
1,668,680,00 1,545,720,00
Agricultural 27 Jan. 2011 26 Jan. 2020 CNY 6.8%
0.00 0.00
Bank of
China
Town God
Temple
899,180,000. 899,180,000.
Branch of 9 Jul. 2010 9 Jul. 2019 CNY 6.8%
00 00
Huishang
Bank
11,801,173,4 8,675,927,08
Total -- -- -- -- -- --
83.00 3.00
Notes of long-term loan: for the long-term loans arising from mature loans with extended term, the Company shall explain the
conditions of extension, principal, interest, expected repayment arrangement:
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
43. Bonds payable
Naught
44. Long-term payable
(1) The top five long-term payable
Naught
(2)List of the financing lease payable under the long-term loan
Naught
45. Specific payable
Naught
46. Other non-current liabilities
Unit: RMB Yuan
Item Closing book balance Opening book balance
Other non-current liabilities related to assets
-The 8.5th Generation TFT-LCD Project 621,790,125.00 670,241,304.00
-The 6th Generation TFT-LCD Project 333,095,238.00 363,809,524.00
-Research platform of common technology on
11,428,571.00 12,500,000.00
panel display
-Contracted for construction plant in industrial
12,040,000.00 12,400,000.00
zone of Hebei
-Construction of National Engineering Laboratory
22,857,143.00 25,000,000.00
for TFT-LCD technology
-Government grants on other technology project 528,812,079.00 494,743,679.00
Other non-current liabilities related to income
-Technological development of TFT-LCD
1,611,900.00 2,686,500.00
platform for large dimension HDTV
-Development of integrated technology of array
595,000.00 595,000.00
substrate
-Government grants on other technology project 20,098,439.00 41,200,739.00
Total 1,552,328,495.00 1,623,176,746.00
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Notes of other non-current liabilities, including various government grants received pertinent to assets and pertinent to income and
their closing balance in reporting period:
In the reporting period, government grants received pertinent to assets is of RMB53,000,000.00, with a closing balance of
RMB52,821,428.55, mainly was capital discount of RMB50 million distributed to Hefei BOE Optoelectronics Technology Co., Ltd.
in accordance with Forward Announcement on Guiding the Approval of Capital Discount Project and Issuing Investment Plan as for
the Development of Provincial Strategic Emerging Industry 2011. While the Company received government grants pertinent to
income is of RMB10,655,800, with a closing balance of RMB4,1 81,800.00.
47. Share capital
Unit: RMB Yuan
Increase/Decrease (+/-)
Opening Capitalization Closing
Issuing new
balance Bonus shares of public Other Subtotal balance
shares
reserves
Total shares 13,521,542,341 0 13,521,542,341
Notes of changes in share capital, for those action of increasing capital or decreasing capital in the reporting period, the Company
shall disclose the name of the accounting firm executing the capital verification and document number of the capital verification
report; for joint-stock companies running for less than three years, only the net assets shall be specified for particulars before
establishment; while for case of totally changing the limited liability companies into joint-stock companies, capital verification on the
establishment shall be specified:
Naught
48. Treasury stock
Notes
Naught
49. Special reserves
Notes
Naught
50. Capital reserves
Unit: RMB Yuan
Item Opening balance Increase Decrease Closing balance
Capital premium (share
15,065,055,460.00 15,065,055,460.00
capital premium)
Other capital reserves
--Fair value change on
13,007,430.00 13,007,430.00
available-for-sale financial
147
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
assets
--Provision for equity
259,913,487.00 259,913,487.00
investment
--Acquisition of minority equity
-22,020,001.00 -22,020,001.00
of subsidiaries
Total 15,302,948,946.00 13,007,430.00 0.00 15,315,956,376.00
Notes:
Naught
51. Surplus reserves
Unit: RMB Yuan
Item Opening balance Increase Decrease Closing balance
Statutory surplus reserves 209,421,304.00 209,421,304.00
Discretional surplus reserves 289,671,309.00 289,671,309.00
Reserve fund
Enterprise development funds
Other
Total 499,092,613.00 0.00 0.00 499,092,613.00
Notes of surplus reserves: for surplus reserves transferred to share capital, compensating losses and distributed as dividends, relevant
resolutions shall be explained:
As of 30 Jun. 2012, the Company was of a condition that with accrued uncompensated loss, then the Company didn’t withdrawal
statutory surplus reserves and discretional reserves from Jan. to Jun. of 2012.
52. Provision for general risk
Naught
53. Retained profits
Unit: RMB Yuan
Withdrawal or distributed
Item Amount
proportion
Opening balance of retained profits before
-3,734,305,993.00 --
adjustments
Adjustments of opening balance of retained
--
profits (―+‖ means add, ―-‖ means reduce)
Opening balance of retained profits after
-3,734,305,993.00 --
adjustments
Add: Net profit attributable to owners of the -786,882,196.00 --
148
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Company
Less: Withdrawal of statutory surplus reserves
Withdrawal of discretional surplus reserves
Withdrawal of provision for general risk
Dividend of common stock payable
Dividend of common stock converted into
share capital
Closing retained profits -4,521,188,189.00 --
List of adjustment of opening retained profits:
1) RMB000 opening retained profits was affected by retrospective adjustment conducted according to the Accounting Standards for
Business Enterprises and relevant new regulations.
2) RMB000 opening retained profits was affected by changes on accounting policies.
3) RMB000 opening retained profits was affected by correction of significant accounting errors.
4) RMB000 opening retained profits was affected by changes in combination scope arising from same control.
5) RMB000 opening retained profits was affected totally by other adjustments.
Notes: as for IPO companies, if the accumulated profits were enjoyed by new and original shareholders according to the resolutions
made at the shareholders’ general meeting before public offering, the Company shall explain clearly; if the accumulated profits were
distributed before public offering and enjoyed by the original shareholders according to the resolutions made at the shareholders’
general meeting, the Company shall clearly disclose the audited profits of dividends payable enjoyed by the original shareholders:
Naught
54. Revenue and Cost of Sales
(1) Revenue, Cost of Sales
Unit: RMB Yuan
Item Reporting period Same period of last year
Sales of main business 9,328,540,502.00 4,824,073,408.00
Other operating income 280,341,511.00 115,960,589.00
Cost of sales 9,502,396,703.00 5,344,717,781.00
(2) Main business (Classified by industry)
√Applicable □Inapplicable
Unit: RMB Yuan
Reporting period Same period of last year
Industry
Revenue of sales Costs of sales Revenue of sales Costs of sales
TFT-LCD 12,199,149,140.00 12,225,070,764.00 3,892,833,598.00 4,493,304,229.00
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Display light source 1,014,288,844.00 956,036,513.00 739,170,416.00 709,889,305.00
Display system 856,696,380.00 822,702,651.00 653,132,721.00 582,258,545.00
Other business 439,354,891.00 298,888,290.00 905,440,371.00 760,709,966.00
Offset -5,180,948,753.00 -5,138,332,271.00 -1,366,503,698.00 -1,364,744,937.00
Total 9,328,540,502.00 9,164,365,947.00 4,824,073,408.00 5,181,417,108.00
(3)Main business (Classified by product)
√Applicable □Inapplicable
Unit: RMB Yuan
Reporting period Same period of last year
Product
Revenue of sales Costs of sales Revenue of sales Costs of sales
TFT-LCD 12,199,149,140.00 12,225,070,764.00 3,892,833,598.00 4,493,304,229.00
Display light source 1,014,288,844.00 956,036,513.00 739,170,416.00 709,889,305.00
Display system 856,696,380.00 822,702,651.00 653,132,721.00 582,258,545.00
Other business 439,354,891.00 298,888,290.00 905,440,371.00 760,709,966.00
Offset -5,180,948,753.00 -5,138,332,271.00 -1,366,503,698.00 -1,364,744,937.00
Total 9,328,540,502.00 9,164,365,947.00 4,824,073,408.00 5,181,417,108.00
(4) Main business (Classified by area)
√Applicable □Inapplicable
Unit: RMB Yuan
Reporting period Same period of last year
Area
Revenue of sales Costs of sales Revenue of sales Costs of sales
China 4,947,479,261.00 4,566,896,634.00 3,414,971,933.00 3,280,767,468.00
Other countries and regions of
8,066,795,465.00 8,275,273,403.00 2,721,437,448.00 3,078,267,090.00
Asia
Europe 641,719,191.00 631,829,037.00 94,788,942.00 87,469,547.00
America 306,415,531.00 292,663,485.00 98,931,637.00 92,730,658.00
Other countries 547,079,807.00 536,035,659.00 7,088,405.00 6,927,282.00
Offset -5,180,948,753.00 -5,138,332,271.00 -1,513,144,957.00 -1,364,744,937.00
Total 9,328,540,502.00 9,164,365,947.00 4,824,073,408.00 5,181,417,108.00
(5) The revenue of sales from the top five customers
Unit: RMB Yuan
150
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Customer Main business revenue Proportion of total business revenue (%)
SAMSUNG ELECTRONICS CO.
2,311,737,030 24%
LTD
TPV Technology Limited 362,294,386 4%
Konka Group Co., Ltd. 338,333,988 4%
Lenovo Group Co., Ltd. 198,486,120 2%
ZTE Kangxun Telecom Company
170,669,482 2%
Limited
Total 3,381,521,006 36%
55. Revenue from the construction contracts
□Applicable √Inapplicable
Notes of revenue from the construction contracts:
56. Business tax and surcharges
Unit: RMB Yuan
Same period of last
Item Reporting period Calculation and payment standard
year
Consumption tax
Business tax 12,583,751.00 7,481,878.00 Taxed by taxable operating revenue
Urban maintenance and construction Taxed by actual taxable operation tax and
1,506,006.00 1,945,244.00
tax VAT payable
Education surtax Taxed by actual taxable operation tax and
677,496.00 1,168,534.00
VAT payable
Resources tax
Taxed by actual taxable operation tax and
Local education surtax 496,878.00 375,389.00
VAT payable
Total 15,264,131.00 10,971,045.00 --
Notes:
Naught
57. Gains and losses from changes in fair value
Unit: RMB Yuan
Source Reporting period Same period of last year
Trading financial assets -8,670,137.00
151
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Including: gains from the changes in fair value of
-8,670,137.00
derivative financial instruments
Trading financial liabilities
Investment property calculated in fair value
Other 0.00 0.00
Total 0.00 -8,670,137.00
Notes:
Naught
58. Investment income
(1) List of investment income
Unit: RMB Yuan
Item Reporting period Same period of last year
Long-term equity investment income accounted by
0.00 0.00
cost method
Long-term equity investment income accounted by
-5,766,868.00 -2,832,684.00
equity method
Investment income arising from disposal of
344,785.00 0.00
long-term equity investments
Investment income received from holding of trading
0.00 0.00
financial assets
Investment income received from holding of
0.00 0.00
held-to-maturity investments
Investment income received from holding of
1,669,314.00 3,430,033.00
available-for-sale financial assets
Investment income received from disposal of
0.00 0.00
trading financial assets
Investment income received from holding of
0.00 0.00
held-to-maturity investments
Investment income received from available-for-sale
0.00 0.00
financial assets
Other 0.00 0.00
Total -3,752,769.00 597,349.00
(2) Long-term equity investment income accounted by cost method
Naught
152
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
(3) Long-term equity investment income accounted by equity method
Unit: RMB Yuan
Same period of last
Name of investee Reporting period Reason for increase/decrease
year
Beijing Dongfang Hengtong Joint venture that operation condition is
-31,376.00 -99,946.00
Technology Development Co., Ltd. turning better.
Beijing Nissin Electronics Precision Associated company that with an
-5,021,551.00 -3,246,756.00
Component Co., Ltd. increase in losses.
Associated company that with an
Beijing Nittan Electronic Co., Ltd. -265,717.00 532,000.00
increase in losses.
Julong Electronics Co., Ltd. 0.00 -17,982.00 Already liquidated
Beijing Yingfei Hailing Venture Associated company that with an
-348,546.00
Investment and Management Co., Ltd. increase in losses.
Erdos BOE Energy Investment Co., Associated company that with an
-99,678.00
Ltd. increase in losses.
Total -5,766,868.00 -2,832,684.00 --
59. Impairment losses
Unit: RMB Yuan
Item Reporting period Same period of last year
I. Bad debts losses 949,302.00 1,005,623.00
II. Inventory falling price losses -16,789,505.00 57,773,286.00
III. Impairment losses of available-for-sale financial
assets
IV. Impairment losses of held-to-maturity of investment
V. Impairment losses of long-term equity investment
VI. Impairment losses of investment property
VII. Impairment losses of fixed assets 3,951,134.00
VIII. Impairment losses of engineering materials
IX. Impairment loss of construction in progress
X. Impairment losses of productive biological assets
XI. Impairment losses of oil and gas assets
XII. Impairment losses of intangible assets
XIII. Impairment losses of goodwill
XIV. Other
153
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Total -11,889,069.00 58,778,909.00
60. Non-operating gains
(1)
Unit: RMB Yuan
Item Reporting period Same period of last year
Total gains from disposal of non-current assets 1,216,796.00 17,368,311.00
Including：Gains from disposal of fixed assets 1,176,769.00 17,283,495.00
Gains from disposal of intangible assets
Gains from debt reconstruction
Gains from non-monetary assets exchange
Acceptance of donations 1,408,000.00
Government grants 149,746,711.00 43,299,784.00
Other 9,128,848.00 11,163,582.00
Total 160,092,355.00 73,239,677.00
(2) List of government grants
Unit: RMB Yuan
Item Reporting period Same period of last year Note
Discount on loan for project 10,285,343.00 2,883,200.00
Government grants on other science
139,461,368.00 40,416,584.00
and research project
Total 149,746,711.00 43,299,784.00 --
Notes:
Naught
61. Non-operating expenses
Unit: RMB Yuan
Item Reporting period Same period of last year
Loss on disposal of non-current assets 1,598,969.00 6,907,321.00
Including: Loss on disposal of fixed assets 1,594,123.00 6,907,321.00
Loss on disposal of intangible assets
Loss on debt reconstruction
Loss on exchange of non-monetary assets
154
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
External donation
Other 907,368.00 641,767.00
Total 2,506,337.00 7,549,088.00
Notes:
Naught
62. Income tax expense
Unit: RMB Yuan
Item Reporting period Same period of last year
Current income tax expense accounted by tax and relevant
13,131,257.00 2,020,292.00
regulations
Adjustment of income tax -4,877,748.00 -4,729,992.00
Total 8,253,509.00 -2,709,700.00
63. Calculation procedure of basic earnings per share and diluted earnings per share
Reporting period Same period of last year
Combining net profts/ (losses) attributable to common -781,114,226 -1,215,484,477
shareholders of the Company
Weighted average amount of outstanding common shares of 13,521,542,341 13,521,542,341
theCompany
Basic/diluted earnings per share/(losses) (yuan/share) -0.058 -0.090
64. Other comprehensive income
Unit: RMB Yuan
Item Reporting period Same period of last year
1. Profits/(losses) from available-for-sale financial assets 13,007,430.00 -21,300,944.00
Less: Effects on income tax generating from available-for-sale
financial assets
Net amount transferred into profit and loss in the current period
that recognized into other comprehensive income in prior
period
Subtotal 13,007,430.00 -21,300,944.00
2. Interests in the investee entities’ other comprehensive
income as per equity method
155
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Less: Effects on income tax generating from the interests in the
investee entities’ other comprehensive income as per equity
method
Net amount transferred into profit and loss in the current period
that recognized into other comprehensive income in prior
period
Subtotal 0.00 0.00
3. Profits/(losses) from cash flow hedging instrument
Less: Effects on income tax generating from cash flow hedging
instrument
Net amount transferred into profit and loss in the current period
that recognized into other comprehensive income in prior
period
The adjustment value that is the converted initial recognition
amount of arbitrage project
Subtotal 0.00 0.00
4. Converted amount of foreign currency financial statements 1,066,762.00 314,125.00
Less: Net value of disposal of oversea operations that
recognized into current profit and loss
Subtotal 1,066,762.00 314,125.00
5. Other
Less: Effects on income tax generating from the others that
included into other comprehensive income
Net amount transferred into profit and loss in the current period
that recognized into other comprehensive income in prior
period
Subtotal 0.00 0.00
Total 14,074,192.00 -20,986,819.00
Notes:
Naught
65. Notes of Cash Flow Statemen
(1)Other cash received relevant to operating activities
Unit: RMB Yuan
Item Amount
Exchange income arising from buying exchange 56,397,038.00
Guarantee money for a bid 11,665,647.00
Other 178,769,513.00
156
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Total 246,832,198.00
Notes:
(2) Other cash paid relevant to operating activities
Unit: RMB Yuan
Item Amount
Administration expense on cash payment 150,352,887.00
Production charges on cash payment 2,217,352.00
Sales expense on cash payment 185,280,178.00
Other 240,219,370.00
Total 578,069,787.00
Notes:
(3) Other cash received relevant to investment activities
Unit: RMB Yuan
Item Amount
Receipt of VAT refund on import equipments 93,800,683.00
Other 53,941,232.00
Total 147,741,915.00
Notes:
(4) Other cash paid relevant to investment activities
Unit: RMB Yuan
Item Amount
Refund on bid/performance bond 5,200,000.00
Other 2,167,347.00
Total 7,367,347.00
Notes:
(5) Other cash received relevant to financing activities
Unit: RMB Yuan
157
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Item Amount
Receipt of refund on interest 50,000,000.00
Interest income arising from deposit of guarantee money 70,188,265.00
Collecting limited deposit of financial units for acquiring equipments 1,651,985,705.00
Other 7,138,968.00
Total 1,779,312,938.00
Notes:
(6) Other cash paid relevant to financing activities
Unit: RMB Yuan
Item Amount
Paid for agency service by bank consortium for loan 4,000,000.00
Other 6,227,877.00
Total 10,227,877.00
Notes of other cash paid relevant to financing activities:
66. Supplemental information for Cash Flow Statement
(1) Supplemental information for Cash Flow Statement
Unit: RMB Yuan
Supplemental information Reporting period Same period of last year
1. Reconciliation of net profit to net cash flows generated
-- --
from operations：
Net profit -1,077,106,680.00 -1,326,538,316.00
Add: Provision for assets impairments -11,889,069.00 58,778,909.00
Depreciation of fixed assets, oil-gas assets and productive
1,833,011,576.00 1,244,059,211.00
biological assets
Amortization of intangible assets 61,395,795.00 40,038,496.00
Amortization of long-term deferred expense 9,563,362.00 7,019,080.00
Losses/gains on disposal of property, intangible asset and
-8,537,025.00 131,606.00
other long-term assets (gains: negative)
Losses/gains on scrapped of fixed assets (gains:
-3,064.00 0.00
negative)
Losses/gains from variation of fair value (gains: negative) 0.00 8,670,137.00
Financial cost (income: negative) 121,301,724.00 -75,281,816.00
158
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Investment loss (gains: negative) 3,752,769.00 -597,349.00
Decrease in deferred tax assets (increase: negative) -394,003.00 932,265.00
Increase in deferred tax liabilities (decrease: negative) -3,603,080.00 -5,662,259.00
Decrease in inventory (increase: negative) -303,781,948.00 -828,674,656.00
Decrease in accounts receivable from operating activities
-1,597,470,740.00 -893,659,861.00
(increase: negative)
Increase in accounts payable from operating activities
1,095,587,944.00 1,156,594,606.00
(decrease: negative)
Others 0.00 0.00
Net cash flows generated from operating activities 121,827,560.00 -614,189,947.00
2. Significant investing and financing activities without
-- --
involvement of cash receipts and payments
Debt converted into capital
Convertible company bonds due within 1 year
Financing leased fixed assets
3. Change of cash and cash equivalent: -- --
Closing balance of Cash 11,139,101,933.00 11,073,485,807.00
Less: opening balance of cash 12,959,533,670.00 19,097,948,638.00
Plus: closing balance of cash equivalent
Less: opening balance of cash equivalents
The net increase in cash and cash equivalents -1,820,431,737.00 -8,024,462,831.00
(2)Relevant information of acquisition or disposal of subsidiaries and other operation entities in the
reporting period
Unit: RMB Yuan
Supplemental information Reporting period Same period of last year
I. Relevant information on acquisition of subsidiaries and
-- --
other operation entities:
1. Price of acquisition of subsidiaries and other operation
15,306,439.00
entities
2. Cash and cash equivalents paid for acquisition of
15,306,439.00
subsidiaries and other operation entities
Less: Cash and cash equivalents held by subsidiaries
and other operation entities
3. Net cash acquired from subsidiaries and other operation
15,306,439.00
entities
4. Net assets acquired from subsidiaries 0.00 34,500,924.00
Current assets 142,742,214.00
159
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Non-current assets 7,758.00
Current liabilities 108,249,048.00
Non-current liabilities 0.00
II. Relevant information on disposal of subsidiaries and
-- --
other operation entities
1. Price of disposal of subsidiaries and other operation
entities
2. Cash and cash equivalents received for disposal of
subsidiaries and other operation entities
Less: Cash and cash equivalents held by subsidiaries
and other operation entities
3. Net cash received from disposal of subsidiaries and other
operation entities
4. Net assets on disposal of subsidiaries 0.00 0.00
Current assets
Non-current assets
Current liabilities
Non-current liabilities
(3)Composition of cash and cash equivalents
Unit: RMB Yuan
Item Reporting period Same period of last year
I. Cash 11,139,101,933.00 12,959,533,670.00
Including: Cash on hand 538,148.00 599,473.00
Bank deposit on demand 11,138,563,785.00 12,958,934,197.00
Other monetary funds on demand
Central Bank deposit on demand
Due from banks
Call loan to banks
II. Cash equivalents
Including: bond investments due in three months
III. Closing balance of cash and cash equivalents 11,139,101,933.00 12,959,533,670.00
Notes:
67. Notes to statement of changes in owners’ equity
Naught
160
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
(VIII) Accounting treatment of assets securitization business
1. Notes of main trade arrangement and its accounting treatment of assets securitization business as well as
articles of bankruptcy remote
Naught
2. Main information about the special purpose entities in which the Company has no control right but bears
relevant risks:
Naught
(IX) Related Parties and Related-party Transactions
1. Information of the parent company of the Company
Unit: RMB Yuan
The
parent The
The parent
Busine Legal compan ultimate
Parent Relations Register Business Registered Curren company's Organizati
ss Representat y's controlling
company hip ed place nature Capital cy shareholdi on Code
Type ive voting party of the
ng (%)
right Company
(%)
State
–owned
Assets
Supervision
Operation
and
and
Limite Administrat
manageme
d ion
Electroni nt of
Actual liabilit Beijing, 1,307,370,000 Commissio 63364799-
cs Wang Yan state-owne CNY 2.04% 8.41%
controller y China .00 n of the 8
Holding d assets
compa State
within
ny Council of
authorizati
the People's
on
Government
of Beijing
Municipalit
y
Limite Manufactu State
Controllin d Beijing，Wang re and sale 680,982,000.0 –owned 10110124-
BOID CNY 6.37% 6.37%
g liabilit China Dongsheng of 0 Assets 9
y electronic Supervision
161
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
compa products and
ny Administrat
ion
Commissio
n of the
People's
Government
of Beijing
Municipalit
y
Notes:
Naught
2. Information of subsidiaries of the Company
Unit: RMB Yuan
Percenta
Percentag
Legal ge of
Business Registered Business Registered Curren e of Organizati
Full name Type representat voting
type place nature capital cy Sharehold on code
ive right
ing (%)
(%)
Manufactur
Beijing BOE Controlli
Limited e of
Optoelectronic ng Beijing, Chen 649,110,000.0 74935339
liability TFT-LCD USD 82.49% 82.49%
s Technology subsidiar China Yanshun 0 3
company and related
Co., Ltd. y
parts
Manufactur
Chengdu BOE Controlli Other
e of
Optoelectronic ng limited Chengdu, Wang 1,830,000,000. 66755664
TFT-LCD CNY 100% 100%
s Technology subsidiar liability China Jiaheng 00 8
and related
Co., Ltd. y company
parts
Limited
liability Manufactur
Hefei BOE Controlli
company e of
Optoelectronic ng Chen 9,000,000,000. 68082289
(Solely-ow Hefei, China TFT-LCD CNY 100% 100%
s Technology subsidiar Yanshun 00 1
ned by and related
Co., Ltd y
legal parts
person)
Beijing BOE Manufactur
Controlli Other
Display Wang e of
ng limited Beijing, 17,377,199,30 68435138
Technology Dongshen TFT-LCD CNY 50.09% 50.09%
subsidiar liability China 0.00 8
Co., Ltd. g and related
y company
(BOE Display) parts
162
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
BOE (Hebei) Controlli Manufactur
Limited
Mobile ng Langfang,C Zhang e of 78574713
liability 20,000,000.00 USD 75% 75%
Technology subsidiar hina Zhaohong electronic 8
company
Co., Ltd. y components
BOE Hyundai
Controlli Manufactur
LCD (Beijing) Limited
ng Beijing, Zhang e of 73765024
Display liability 5,000,000.00 USD 75% 75%
subsidiar China Zhaohong electronic 3
Technology company
y components
Co., Ltd.
Developme
Beijing BOE nt of
Controlli
Special Limited display
ng Beijing, Sun 70022206
Display liability products 60,000,000.00 CNY 100% 100%
subsidiar China Shenglin 9
Technology company and sale of
y
Co., Ltd. electronic
products
Manufactur
Beijing BOE Controlli Other
e of
Vacuum ng limited Beijing, Ren 63370950
electronic 35,000,000.00 CNY 55% 55%
Electronics subsidiar liability China Jianchang 3
vacuum
Co., Ltd. y company
components
Manufactur
Beijing BOE Controlli
Limited e of
Vacuum ng Beijing, 66050630
liability Zhou Yuan electronic 32,000,000.00 CNY 100% 100%
Technology subsidiar China 6
company vacuum
Co., Ltd. y
components
Controlli
Limited Property
Beijing BOE ng Beijing, Wang 60003888
liability managemen 55,420,000.00 CNY 70% 70%
Land Co., Ltd. subsidiar China Yanjun 9
company t
y
Controlli Other
Beijing Yinghe Property
ng limited Beijing, Wang 233,105,200.0 60006648
Century Co., managemen CNY 100% 100%
subsidiar liability China Yanjun 0 4
Ltd. t
y company
Beijing BOE Controlli
Limited Sales of
Multimedia ng Beijing, Chen 200,000,000.0 69504225
liability electronic CNY 100% 100%
Technology subsidiar China Yanshun 0 7
company products
Co. Ltd. y
Beijing Asahi Controlli Manufactur
Limited
Glass ng Beijing, Wang e of 60001557
liability 61,576,840.00 CNY 100% 100%
Electronics subsidiar China Yanjun optoelectro 2
company
Co., Ltd. y nic
163
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
components
and
electronic
components
Controlli
Beijing BOE Limited Sales of
ng Beijing, Li 79160756
Marketing Co., liability electronic 500,000.00 CNY 100% 100%
subsidiar China Xuezheng 1
Ltd. company products
y
Beijing BOE
Controlli Merger and
Energy Limited
ng Beijing, Liang application 69321350
Science and liability 29,000,000.00 CNY 100% 100%
subsidiar China Xinqing of PV X
Technology company
y system
Co., Ltd.
Controlli Other
BeijingMatsus Property
ng limited Beijing, Chen 1,240,754,049. 60000014
hita Color managemen CNY 80% 80%
subsidiar liability China Yanshun 00 3
CRT Co., Ltd. t
y company
Controlli
Limited Seongnam, Sales of
BOE (Korea) ng Li 41066571
liability Gyeonggi-d electronic 100,100.00 USD 100% 100%
Co., Ltd. subsidiar Xuezheng 8
company o, Korea products
y
Design,
manufactur
BOE Controlli e, trade and
Limited
Optoelectronic ng Chen investment 09266572
liability BVI 600,000.00 USD 100% 100%
s Holding Co., subsidiar Yanshun of X
company
Ltd. y electronic
information
industry
Home films
Beijing BOE Controlli and
Limited Wang
Digital ng Beijing, television, 60008644
liability Dongshen 10,000,000.00 USD 75% 75%
Technology subsidiar China equipment 2
company g
Co., Ltd. y manufactur
e
Manufactur
Suzhou BOE Controlli
Limited e of
Chatani ng Suzhou, Dong 186,485,134.0 73574009
liability electronics CNY 90.51% 90.51%
Electronics subsidiar China Qiang 0 3
company and relevant
Co., Ltd. y
component
Beijing BOE Controlli Limited Beijing, Chen R&D, 500,000,000.0 69495680
CNY 100% 100%
Vision-electro ng liability China Yanshun manufactur 0 7
164
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
nic Co., Ltd. subsidiar company e and sales
y of
electronic
products
Manufactur
e of
Controlli optoelectro
Beijing BOE Limited
ng Beijing, nics 10171147
Semi-conducto liability Cao Hong 15,000,000.00 CNY 63% 63%
subsidiar China components 7
r company
y and other
electronic
components
Active
matrix
Erdos Controlli organic
Limited
Yuansheng ng Chen light 2,004,000,000. 57566474
liability Erdos, China CNY 99.8% 99.8%
Optoelectronic subsidiar Yanshun emitting 00 8
company
s Co., Ltd. y diode
display
device
Beijing Controlli
Limited Property
Zhongpingxun ng Beijing, Wang 57522132
liability managemen 10,000,000.00 CNY 100% 100%
Technology subsidiar China Yanjun -2
company t
Co., Ltd. y
Beijing Controlli
Limited Property
Zhongxiangyin ng Beijing, Wang 57532230
liability managemen 10,000,000.00 CNY 100% 100%
g Technology subsidiar China Yanjun -6
company t
Co., Ltd. y
165
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
3. Information of joint ventures and associated enterprises
Unit: RMB Yuan
Total sales
Percentage Net profit
Legal Percentage Total Total Total of revenue
Name of Business Registered Business Registered of in the Relationshi Organizatio
representati Currency of voting closing closing closing net in the
investee type address nature capital shareholdin reporting p n code
ve rights (%) assets liabilities assets reporting
g (%) period
period
I. Joint
-- -- -- -- -- -- -- -- -- -- -- -- -- -- --
venture
Technology
developme
nt,
investment
consultancy
, property
Beijing
information
Dongfang
Limited consultancy
Hengtong Beijing, Li 5,000,000. 4,238,746. 4,238,746. Joint
liability , CNY 50% 50% 0.00 -62,751.00
Technology China Hongshan 00 00 00 venture
company investment
Developme
counselor,
nt Co., Ltd.
developme
nt of
corporate
image,
corporate
manageme
166
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
nt
consultanc
y; sales of
constructio
n materials
II.
Associated -- -- -- -- -- -- -- -- -- -- -- -- -- -- --
enterprise
Developme
nt and
Beijing manufactur
Nissin e of
Limited
Electronics Beijing, Liang electron 10,100,000 134,023,17 102,653,13 31,370,043 14,470,530 -14,105,48 Associated
liability USD 35.6% 35.6%
Precision China Xinqing gun and its .00 8.00 5.00 .00 .00 0.00 enterprise
company
Component component
Co., Ltd. s; sales of
self-made
products
Developme
nt and
production
Beijing
Limited of terminal,
Nittan Beijing, Liang 2,000,000. 70,514,886 35,144,448 35,370,438 43,193,799 -664,292.0 Associated
liability connector, USD 40% 40%
Electronics China Xinqing 00 .00 .00 .00 .00 0 enterprise
company pressure
Co., Ltd.
machine;
sales of
self-made
167
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
products
Beijing Investment
Yingfei manageme
Hailing nt, assets
Limited
Venture Beijing, Wang manageme 1,000,000. -109,440.0 -1,109,440. Associated
liability CNY 35% 35% 75,071.00 184,511.00 0.00
Investment China Dongsheng nt and 00 0 00 enterprise
company
and investment
Manageme consultanc
nt Co., Ltd. y
Erdos BOE Other
Energy limited Erdos, Shi Energy 30,000,000 9,684,387. 9,482,310. -498,391.0 Associated
CNY 20% 20% 202,077.00 0.00
Investment liability China Youwen investment .00 00 00 0 enterprise
Co., Ltd. company
168
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
4. Information of other related parties of the Company
Name of other related party Relationship Organization code
Beijing State-owned Assets Management Investor that has significant influence on
40059216-4
Co., Ltd. the Group
Being E-TOWN International Investment Corporation that holds over 5% shares of
68435529-0
& Development Co., Ltd. the Company
Beijing Economic-Technological Corporation that holds over 5% shares of
10112832-9
Investment & Development Corp. the Company
Hefei Rongke Project Investment Co., Corporation that holds over 5% shares of
56496672-4
Ltd. the Company
Corporation that holds over 5% shares of
Hefei Lan Ke Investment Co., Ltd. 68084769-3
the Company
Hefei Xincheng State-Owned Assets Corporation that holds over 5% shares of
74085934-7
Management Co., Ltd. the Company
Beijing BDA Technological Investment Person act-in-concert that holds over 5%
72261378-1
Development Co., Ltd. shares of the Company
Corporation controlled by the same
Beijing Jile Electronics Group Co., Ltd. 101209006
ultimate controlling company
Beijing Electronic Zone Investment and Corporation controlled by the same
101514043
Development Co., Ltd. ultimate controlling company
Beijing Sevenstar Huasheng Corporation controlled by the same
774078573
Electronics&Machinery Co., Ltd. ultimate controlling company
Beijing Senvenstar Front Electronics Co., Corporation controlled by the same
76675202X
LTD. ultimate controlling company
Beijing Sevenstar Hongtai Electronics Corporation controlled by the same
783954088
Equipment Co., Ltd. ultimate controlling company
Corporation controlled by the same
Beijing Sevenstar City Real Estate Co. Ltd. 726377528
ultimate controlling company
Beijing Sevenstar Flight Electronic Co., Corporation controlled by the same
717781924
Ltd ultimate controlling company
Beijing BBEF Science & Technology Co., Corporation controlled by the same
726341699
Ltd ultimate controlling company
Beijing Zhengdong Electronic Power Corporation controlled by the same
101101150
Group Co., Ltd. ultimate controlling company
Beijing Yandong Microelectronics Co., Corporation controlled by the same
101125734
Ltd. ultimate controlling company
Beijing Orient Electronic Materials Corporation controlled by the same 10171140X
169
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Company ultimate controlling company
Beijing Dongdian Industrial Development Corporation controlled by the same
101832586
Corporation ultimate controlling company
Beijing Jiuxin Property Management Corporation controlled by the same
721410763
Limited liability company ultimate controlling company
Notes:
Naught
5. Related-party transactions
(1) Purchase of goods and acceptance of service
Unit: RMB Yuan
Pricing method Reporting period Same period of last year
and
Content of the
Related party decision-making Proportio Proportio
transaction Amount Amount
procedures for the n (%) n (%)
transaction
Based on market
Beijing Electronics price and pricing
Supplemental raw
Holding Co., Ltd and after fair 4,910,000.00 0.05% 27,290,000.00 0.21%
materials
its subsidiaries discussion by each
party.
Based on market
Beijing Electronics Repair and price and pricing
Holding Co., Ltd and transformation, service after fair 2,630,000.00 7.48% 7,220,000.00 26.4%
its subsidiaries and processing discussion by each
party.
Based on market
Beijing Nissin price and pricing
Metal frame,
Electronics Precision after fair 4,680,000.00 0.05% 6,000,000.00 0.05%
lampshade
Component Co., Ltd. discussion by each
party.
Sales of goods and rendering of service
Unit: RMB Yuan
Pricing method Reporting period Same period of last year
and
Content of the
Related party decision-making Proportio Proportio
transaction Amount Amount
procedures for the n (%) n (%)
transaction
Electronics Holding Products, power and Based on market
60,000.00 0% 640,000.00 0.01%
and its subsidiaries energy price and pricing
170
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
after fair
discussion by each
party.
Based on market
price and pricing
Electronics Holding
Offering service after fair 10,000.00 0.01% 30,000.00 0.04%
and its subsidiaries
discussion by each
party.
Based on market
price and pricing
Beijing Nittan
Power, energy after fair 330,000.00 0% 740,000.00 0.01%
Electronics Co., Ltd.
discussion by each
party.
Based on market
price and pricing
Beijing Nittan
Offering service after fair 10,000.00 0.01% 70,000.00 0.1%
Electronics Co., Ltd.
discussion by each
party.
Based on market
Beijing Nissin price and pricing
Electronics Precision Offering service after fair 20,000.00 0.03% 90,000.00 0.13%
Component Co., Ltd. discussion by each
party.
(2)Information of related party trust/contract
Naught
(3)Information of related-party lease
Rental situation of the Company
Unit: RMB Yuan
Rental
Rental
Information Pricing income
Category of Amount of income
Name of Name of of the basis for the recognized
the leased the leased Initial date Ending date effect on
lessor lessee leased rental in the
assets assets the
assets income reporting
Company
period
BOE Beijing
30 Jun. Lease
Technology Jiuxin House Intact 1 Jan. 2012 30,259.00
2012 contract
Group Co., Property
171
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Ltd. Managemen
t Co., Ltd.
BOE Beijing
Technology Nittan 26 Nov. Lease
House Intact 1 Jan. 2012 644,173.00
Group Co., Electronic 2015 contract
Ltd. Co., Ltd.
Lease situation of the Company
Naught
Notes of related-party lease
The above lease was an on-going lease.
(4)Information of related-party guarantee
Unit: RMB Yuan
Whether the
Guarantor Secured party Guarantee amount Initial date Due date guarantee was
accomplished or not
BOE Optoelectronic
Electronics Holding 21,747,285,288.00 31 Mar. 2005 1 Apr. 2014 No
Technology Co., Ltd.
Notes:
This guarantee was provided by Electronics Holding for BOE Optoelectronic Technology Co., Ltd. to gaining syndicated loan.
(5)Related-party call loan
Naught
(6)Information about assets transfer, debt reorganization of related parties
Naught
(7)Other related-party transaction
Naught
6. Amounts due from/to related parties
Amount due from related parties
Unit: RMB Yuan
Name Related party Closing balance Opening balance
Electronics Holding and
Accounts receivable 630,000.00 503,000.00
its subsidiaries
172
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Electronics Holding and
Prepaid accounts 5,050,000.00 1,031,600.00
its subsidiaries
Beijing Nissin
Accounts receivable Electronics Precision 670,000.00 674,900.00
Component Co., Ltd.
Beijing Nittan
Accounts receivable 400,000.00 510,400.00
Electronic Co., Ltd.
Amount due to related parties
Unit: RMB Yuan
Name Related party Closing balance Opening balance
Electronics Holding and its
Accounts payable 13,280,000.00 5,621,800.00
subsidiaries
Electronics Holding and its
Other accounts payable 5,750,000.00 6,662,500.00
subsidiaries
Beijing Nissin Electronics
Accounts payable Precision Component Co., 2,310,000.00 1,788,600.00
Ltd.
Beijing Nissin Electronics
Other accounts payable Precision Component Co., 20,000.00 15,000.00
Ltd.
(X) Share-based Payment
1. Overview of share-based payment
Naught
2. Information of equity-settled share-based payment
Naught
3. Information of cash-settled share-based payment
Naught
4. Information of share-based payment service
Naught
173
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
5. Modification, termination of share-based payment
Naught
(XI) Contingency
1. Contingent liabilities and its financial effect arising from unsettled litigation or arbitration
The Group is defendant in certain lawsuit as well as the plaintiff in other proceedings arising in the ordinary
course of business. Although the outcomes of such contigencies, lawsuits or other proceedings cannot be
determined at present, management believes that any resulting liabilities will not have a material adverse impact
on the financial position or operating results of the Group.
2. Contingent liabilities and its financial effect arising from loan guarantee offered to other companies
(1) The Group’s guarantees provided for external entities
As at 30 Jun. 2012, there wasn’t any guarantee provided by the Group for external entities.
(2) Guarantees provided for internal entities
As at 30 Jun. 2012, the Company and Electronics Holding provided a joint guarantee for the long-term loan which was borrowed by
a subsidiary of the Company, Beijing BOE Optoelectronics Technology Co., Ltd. (hereinafter refer to as―BOEOT‖), with the
committed guarantee amount of USD740,000,000 (in 2011: USD740,000,000).Pursuant to the guarantee agreement, as at 30 Jun.
2012, the guarantee amount actually provided by the Company was RMB2,174,285,288 (in 2011:RMB2,483,563,823). In the
meanwhile, the Company chared guarantee money on BOEOT and the guarantee money will be expired until Apr. 2014.
Other contingent liabilities and its financial effect:
Naught
(XII) Commitments
1. Significant commitments
1. Capital commitment
Unit: RMB Yuan
30 Jun. 2012 31 Dec. 2011
External investment contracts entered into but not 4,495,562,303 2,817,048,043
performed or partially performed
External investment contracts authorized but not 1,277,413
21,964,845
entered into
Total 4,496,839,716 2,839,012,888
2. Operating lease commitment
Unit: RMB Yua
30 Jun. 2012 31 Dec. 2011
174
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Within 1 year (including 1 year) 13,138,691 11,408,873
1 years to 2 years (including 2 year) 6,227,822 7,870,972
2 years to 3 years (including 2 year) 4,540,314 6,252,318
Over 3 years 1,815,220 3,025,814
Total 25,722,047 28,557,977
2. Fulfillment of previous commitments
In accordance with contract process then completed with plan.
(XIII)Events after the Balance Sheet Date
1. Notes of significant events after the Balance Sheet Date
Naught
2. Notes of profit distribution after Balance Sheet Date
Naught
3. Notes of other events after Balance Sheet Date
Naught
(XIV)Notes of other significant events
1. Exchange of non-monetary assets
Naught
2. Debt reorganization
Naught
3. Business combination
Naught
4. Lease
Naught
175
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
5. Closing financial instruments that externally issued and convertible into shares
Naught
6. Main content and significant changes of annuity plan
Naught
7. Other significant events
Naught
(XV) Notes of main items in the financial statements of the Company
1. Accounts receivable
(1) Accounts receivable
Unit: RMB Yuan
Closing balance Opening balance
Book balance Provision for bad debts Balance Provision for bad debts
Category Propo
Proporti Proporti Proporti
Amount rtion Amount Amount Amount
on (%) on (%) on (%)
(%)
Accounts receivable with
significant single amount
and individually
withdrawn bad debt
provision
Accounts receivable for which bad debt provisions are made on the group basis
Subtotal of the groups
Accounts receivable with
insignificant single
amount but individually 61,948,143.00 100% 3,373,751.00 5% 58,150,087.00 100% 3,037,708.00 5%
withdrawn bad debt
provision
Total 61,948,143.00 -- 3,373,751.00 -- 58,150,087.00 -- 3,037,708.00 --
Notes to category of accounts receivable:
The basis of single significant accounts was 5% of the balace of this item.
Accounts receivable with significant single amount and individually withdrawn bad debt provision at period-end
□Applicable √Inapplicable
In the groups, accounts receivable adopting aging analysis method to withdraw bad debt provision:
176
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
□Applicable √Inapplicable
In the groups, accounts receivable adopting balance percentage method to withdraw bad debt provision:
□Applicable √Inapplicable
In the groups, accounts receivable adopting other methods to withdraw bad debt provision:
□Applicable √Inapplicable
Accounts receivable with insignificant single amount but individually withdrawn bad debt provision at period-end:
√Applicable □Inapplicable
Unit: RMB Yuan
Content of accounts
Book balance Bad debts provision Withdrawal proportion Withdrawal reason
receivable
Ningbo Yinzhou
Calculated by
Huasheng CRT 146,597.00 146,597.00 100%
recoverable amount
Components Works
Shanghai Shengxing
Calculated by
Electrical Apparatus 89,160.00 89,160.00 100%
recoverable amount
Works
Shaoxing Huaguang
Calculated by
Technology Industrial 85,640.00 85,640.00 100%
recoverable amount
Co., Ltd.
Calculated by
Other 61,626,746.00 3,052,354.00 5%
recoverable amount
Total 61,948,143.00 3,373,751.00 5% --
(2)Information of accounts receivable reversed or recovered in the report period
Naught
(3)Information of accounts receivable that written off in the report period
Naught
(4)Information of shareholders with more than 5% (including 5%) of the voting shares of the Company in
accounts receivable in report period
□Applicable √Inapplicable
(5)Nature or content of other accounts receivable with significant amount
Naught
177
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
(6) Top five accounts receivable
Unit: RMB Yuan
Name of company Relationship Amount Term Proportion (%)
Beijing Yinghe Century
Subsidiary 21,667,309.00 Over 1 year 35%
Co., Ltd.
Beijing BOE Vacuum
Subsidiary 19,319,323.00 Over 1 year 31%
Technology Co., Ltd.
Beijing BOE Land Co.,
Subsidiary 4,010,882.00 Over 1 year 7%
Ltd.
Beijing BOE Special
Display Technology Co., Subsidiary 2,491,800.00 Over 1 year 4%
Ltd.
Beijing BOE Vacuum
Subsidiary 1,887,878.00 Over 1 year 3%
Technology Co., Ltd.
Total -- 49,377,192.00 -- 80%
(7) Accounts receivable due from related parties
Unit: RMB Yuan
Name of company Relationship Amount Proportion (%)
Beijing Yinghe Century Co.,
Subsidiary 21,667,309.00 35%
Ltd.
Beijing BOE Vacuum
Subsidiary 19,319,323.00 31%
Technology Co., Ltd.
Beijing BOE Land Co., Ltd. Subsidiary 4,010,882.00 7%
Beijing BOE Special Display
Subsidiary 2,491,800.00 4%
Technology Co., Ltd.
Beijing BOE Vacuum
Subsidiary 1,887,878.00 3%
Technology Co., Ltd.
Beijing Nissin Electronics
Precision Component Co., Associated company 646,055.00 1%
Ltd.
Beijing Nittan Electronic Co.,
Associated company 397,197.00 1%
Ltd.
Other Subsidiary 1,689,746.00 2%
Total -- 52,110,190.00 84%
178
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
(8)
RMB0.00 was transferred from the accounts receivable not meeting the conditions of termination recognition.
(9) If securitization is carried out on accounts receivable as the underlying asset, please brief on the
arrangement of relevant transactions
Naught
2. Other accounts receivable
(1) Other accounts receivable
Unit: RMB Yuan
Closing balance Opening balance
Provision for bad
Book balance Provision for bad debts Book balance
debts
Category
Propo Propo Propo Propo
Amount rtion Amount rtion Amount rtion Amount rtion
(%) (%) (%) (%)
Other accounts receivable
with significant single
amount and individually 210,992,248.00 69% 327,392,494.00 84%
withdrawn bad debt
provision
Other accounts receivable for which bad debt provisions are made on the group basis
Subtotal of the groups
Other accounts receivable
with insignificant single
amount but individually 95,406,476.00 31% 119,943.00 0.13% 61,924,103.00 16% 160,156.00 0.26%
withdrawn bad debt
provision
Total 306,398,724.00 -- 119,943.00 -- 389,316,597.00 -- 160,156.00 --
Notes:
The basis of single significant accounts was 5% of the balace of this item.
Other accounts receivable with significant single amount and individually withdrawn bad debt provision at period-end:
√Applicable □Inapplicable
Unit: RMB Yuan
Content of other accounts
Book value Bad debts provision Withdrawal proportion Reason
receivable
Beijing BOE 41,435,625.00 Calculated by
179
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Vision-technology Co., recoverable amount
Ltd.
Calculated by
Other 169,556,623.00
recoverable amount
Total 210,992,248.00 -- --
In the groups, other accounts receivable adopting aging analysis method to withdraw bad debt provision:
□Applicable √Inapplicable
In the groups, other accounts receivable adopting balance percentage method to withdraw bad debt provision:
□Applicable √Inapplicable
In the groups, other accounts receivable adopting other methods to withdraw bad debt provision:
□Applicable √Inapplicable
Other accounts receivable with insignificant single amount but individually withdrawn bad debt provision at period-end:
√Applicable □Inapplicable
Unit: RMB Yuan
Content of other accounts
Book balance Bad debts provision Withdrawal proportion Withdrawal reason
receivable
Beijing Ouya Air Co., Calculated by
342,695.00 119,943.00 35%
Ltd. recoverable amount
Calculated by
Other 95,063,781.00
recoverable amount
Total 95,406,476.00 119,943.00 0.13% --
(2)Information of other accounts receivable reversed or recovered in the reporting period
Naught
(3)Information of the write-off other accounts receivable
Naught
(4) The other accounts receivable due from shareholders with more than 5% (including 5%) of the voting
shares of the Company in the reporting period
□Applicable √Inapplicable
(5)Nature or content of other accounts receivable with significant amount
Naught
180
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
(6) Top five other accounts receivable
Unit: RMB Yuan
Name of company Relationship Amount Term Proportion (%)
Chengdu BOE
Optoelectronics Subsidiary 103,427,131.00 Within 1 year 34%
Technology Co., Ltd.
Beijing BOE
Vision-technology Co., Subsidiary 41,435,625.00 Within 1 year 13%
Ltd.
Beijing BOE
Optoelectronics Subsidiary 29,891,667.00 Within 1 year 10%
Technology Co., Ltd.
Beijing BOE Display
Technology Co., Ltd. Subsidiary 29,225,120.00 Within 1 year 10%
(BOE Display)
Hefei BOE
Optoelectronics Subsidiary 20,000,031.00 Within 1 year 6%
Technology Co., Ltd
Total -- 223,979,574.00 -- 73%
(7) Other account receivable due from related parties
Unit: RMB Yuan
Name of company Relationship Amount Proportion (%)
Chengdu BOE
Optoelectronics Technology Subsidiary 103,427,131.00 34%
Co., Ltd.
Beijing BOE
Subsidiary 41,435,625.00 13%
Vision-technology Co., Ltd.
Beijing BOE Optoelectronics
Subsidiary 29,891,667.00 10%
Technology Co., Ltd.
Beijing BOE Display
Technology Co., Ltd. (BOE Subsidiary 29,225,120.00 10%
Display)
Hefei BOE Optoelectronics
Subsidiary 20,000,031.00 6%
Technology Co., Ltd
Other Subsidiary 26,023,748.00 9%
Total -- 250,003,322.00 82%
181
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
(8)
RMB0.00 was transferred from the other accounts receivable not meeting the conditions of termination recognition.
(9) If securitization is carried out on the other accounts receivable as the underlying asset, please brief on
the arrangement of relevant transactions
Naught
3. Long-term equity investments
Unit: RMB Yuan
Explanati
ons on
Withdraw
difference
al amount
s between
of Cash
Sharehold Voting sharehold Provision
Accounti Initial impairme bonus in
The Opening Increase/ Closing ing right ing for
ng investmen nt the
investee balance decrease balance Proportio Proportio proportio impairme
method t cost provision reporting
n n n and nt loss
in the period
voting
reporting
right
period
proportio
n
Beijing
BOE
Vacuum
Electroni
Cost 19,250,00 19,250,00 19,250,00
cs Co., 55% 55%
method 0.00 0.00 0.00
Ltd.
("Vacuum
Electroni
cs ")
Beijing
Yinghe
Century
Land Co., Cost 333,037,4 333,037,4 333,037,4
100% 100%
Ltd.("Yin method 33.00 33.00 33.00
ghe
Century
")
Beijing Cost 9,450,000 9,450,000 9,450,000
63% 63%
BOE method .00 .00 .00
182
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Semi-con
ductor
Co., Ltd.
Suzhou
BOE
Chatani
Electroni Cost 193,087,9 193,087,9 193,087,9
90.51% 90.51%
cs Co., method 04.00 04.00 04.00
Ltd.
("Suzhou
Chatani")
BOE
Hyundai
LCD
(Beijing)
Display
Cost 31,038,52 31,038,52 31,038,52
Technolo 75% 75%
method 5.00 5.00 5.00
gy Co.,
Ltd.
("BOE
Hyundai
")
BOE
(Hebei)
Mobile
Technolo Cost 120,307,5 120,307,5 120,307,5
75% 75%
gy Co., method 00.00 00.00 00.00
Ltd.
("BOE
Hebei")
Beijing
BOE Cost 7,731,474 7,731,474 7,731,474
70% 70%
Land Co., method .00 .00 .00
Ltd.
Beijing
Zhongxian
gying
Technolog Cost 10,000,00 10,000,00 10,000,00
100% 100%
y Co., Ltd. method 0.00 0.00 0.00
(Beijing
Zhongxian
gying)
183
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Beijing
Zhongping
xun
Technolog Cost 10,000,00 10,000,00 10,000,00
100% 100%
y Co., Ltd. method 0.00 0.00 0.00
(Beijing
Zhongping
xun) (c)
Beijing
BOE
Optoelect
ronics
Technolo Cost 4,172,288 4,172,288 4,172,288
82.49% 82.49%
gy Co., method ,084.00 ,084.00 ,084.00
Ltd.("BO
E
Optoelect
ronics")
Beijing
BOE
Special
Display
Technolo Cost 60,000,00 60,000,00 60,000,00 60,000,00
100% 100%
gy Co., method 0.00 0.00 0.00 0.00
Ltd.("
Special
Display
")
BOE
Optoelect
Cost 1,984,685 1,984,685 1,984,685
ronicsc 100% 100%
method .00 .00 .00
Holding
Co., Ltd.
BOE
Cost 788,450.0 788,450.0 788,450.0
(Korea) 100% 100%
method 0 0 0
Co., Ltd.
Beijing
BOE
Cost 500,000.0 500,000.0 500,000.0
Marketin 100% 100%
method 0 0 0
g Co.,
Ltd.
Beijing Cost 12,416,55 12,416,55 12,416,55 75% 75% 12,416,55
184
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
BOE method 0.00 0.00 0.00 0.00
Digital
Technolo
gy Co.,
Ltd.
Beijing
BOE
Vacuum
Technolo
Cost 32,000,00 32,000,00 32,000,00
gy Co., 100% 100%
method 0.00 0.00 0.00
Ltd.("
Vacuum
Technolo
gy ")
Beijing
Asahi
Glass
Electroni Cost 30,888,47 30,888,47 30,888,47
100% 100%
cs Co., method 0.00 0.00 0.00
Ltd.("
Asahi
Glass ")
Chengdu
BOE
Optoelect
ronics
Technolo Cost 1,833,149 1,833,149 1,833,149
100% 100%
gy Co., method ,991.00 ,991.00 ,991.00
Ltd.("
Chengdu
Optoelect
ronics")
Hefei
BOE
Optoelect
ronics Cost 9,000,000 9,000,000 9,000,000
100% 100%
Technolo method ,000.00 ,000.00 ,000.00
gy Co.,
Ltd("Hefe
i BOE ")
BeijingM
Cost 361,304,2 361,304,2 361,304,2
atsushita 80% 80%
method 88.00 88.00 88.00
Color
185
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
CRT Co.,
Ltd.
("Matsus
hita Color
CRT ")
Beijing
BOE
Multimed
ia
Technolo Cost 200,000,0 200,000,0 200,000,0
100% 100%
gy Co. method 00.00 00.00 00.00
Ltd.("
BOE
Multimed
ia ")
Beijing
BOE
Energy
Science
and Cost 29,000,00 29,000,00 29,000,00
100% 100%
Technolo method 0.00 0.00 0.00
gy Co.,
Ltd.
("BOE
Energy ")
Beijing
BOE
Vision-te
Cost 500,000,0 500,000,0 500,000,0
chnology 100% 100%
method 00.00 00.00 00.00
Co., Ltd.
("BOE
Vision")
Beijing
BOE
Display
Technolo
gy Co., Cost 8,705,000 8,705,000 8,705,000
50.09% 50.09%
Ltd. method ,000.00 ,000.00 ,000.00
(BOE
Display)(
" BOE
Display")
Erdos Cost 2,000,000 2,000,000 2,000,000 99.8% 99.8%
186
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Yuanshen method ,000.00 ,000.00 ,000.00
g
Optoelect
ronics
Co., Ltd.
("Yuansh
eng
Optoelect
ronics")
The
Company,
Hefei
BOE and
BOE
Display
jointly
invested
and
establishe
d
Haosheng
Energy
Erdos with
Haosheng capital of
Energy RMB
Investme 2,000,000
Cost 2,000,000 2,000,000 2,000,000
nt Co., 20% 100% ,
method .00 .00 .00
Ltd. RMB6,50
(―Haoshe 0,000 and
ng RMB1,50
Energy‖) 0,000
respective
ly. The
Company
directly
enjoyed
20%
voting
shares of
Haosheng
Energy,
and
indirectly
enjoyed
187
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
80%
voting
shares of
Haosheng
Energy by
subsidiari
es.
Beijing
Nissin
Electroni
cs
Precision
Equity 18,613,23 9,008,337 -5,021,55 3,986,787
Compone 35.6% 35.6%
method 4.00 .00 0.00 .00
nt Co.,
Ltd.
("Nissin
Electroni
cs")
Beijing
Nittan
Electroni
c Co., Equity 6,650,640 14,364,27 -265,717. 14,098,55
40% 40%
Ltd.(" method .00 0.00 00 3.00
Nittan
Electroni
c")
Julong
Electroni
cs Co.,
Equity 8,000,000 6,819,271 -6,819,27
Ltd.(" 0.00 40% 40%
method .00 .00 1.00
Julong
Electroni
cs")
Beijing
Yingfei
Hailing
Venture
Investme Equity 350,000.0 348,546.0 -348,546.
0.00 35% 35%
nt and method 0 0 00
Managem
ent Co.,
Ltd.("Yin
gfei
188
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Hailing")
Erdos
BOE
Energy
Investme
nt Co., Equity 2,000,000 2,000,000 -99,678.0 1,900,322
20% 20%
Ltd.(" method .00 .00 0 .00
BOE
Energy
Investme
nt ")
Beijing
Municipa
l
Administr
Cost 2,500,000 2,500,000 2,500,000
ation & 2.5% 2.5%
method .00 .00 .00
Communi
cation
Card Co.,
Ltd.
Teralane
11,868,00 11,868,00 11,868,00
Semicond 7.29% 7.29%
0.00 0.00 0.00
uctor Inc.
National
Engineeri
ng
Laborator Cost 6,250,000 6,250,000 6,250,000
12.5% 12.5%
y for method .00 .00 .00
Digital T
V(Beijing
)
Zhejiang
BOE
Display Cost 106,391,6 106,391,6 106,391,6 105,821,6
7.03% 7.03%
Technolo method 35.00 35.00 35.00 03.00
gy Co,
Ltd.
Cost 280,000.0 280,000.0 280,000.0 280,000.0
Other
method 0 0 0 0
27,838,12 27,835,05 -12,554,7 27,822,49 178,518,1
Total -- -- -- --
6,863.00 3,413.00 62.00 8,651.00 53.00
Notes:
189
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Naught
4. Revenue and Cost of Sales
(1) Revenue, Cost of Sales
Unit: RMB Yuan
Item Reporting period Same period of last year
Main business revenue 56,713,623.00 50,503,219.00
Other business revenue 113,992,417.00 41,354,483.00
Cost of sales 51,546,737.00 38,700,083.00
(2)Main business (Classified by industry)
√Applicable □Inapplicable
Unit: RMB Yuan
Reporting period Same period of last year
Industry
Revenue of sales Cots of sales Revenue of sales Cots of sales
Other business 56,713,623.00 47,618,614.00 50,503,219.00 34,965,577.00
Total 56,713,623.00 47,618,614.00 50,503,219.00 34,965,577.00
(3)Main business (Classified by product)
√Applicable □Inapplicable
Unit: RMB Yuan
Reporting period Same period of last year
Product
Revenue of sales Cots of sales Revenue of sales Cots of sales
Other business 56,713,623.00 47,618,614.00 50,503,219.00 34,965,577.00
Total 56,713,623.00 47,618,614.00 50,503,219.00 34,965,577.00
(4) Main business (Classified by area)
√Applicable □Inapplicable
Unit: RMB Yuan
Reporting period Same period of last year
Area
Revenue of sales Cots of sales Revenue of sales Cots of sales
China 56,713,623.00 47,618,614.00 50,503,219.00 34,965,577.00
Total 56,713,623.00 47,618,614.00 50,503,219.00 34,965,577.00
190
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
(5) Revenue of sales from the top five customers
Unit: RMB Yuan
Proportion of
Customers Total revenue of sales total revenue of
sales (%)
21ViaNet Group, Inc 16,542,541.00 29%
Beijing Yinghe Century Technology Development Co., Ltd. 5,194,409.00 9%
95Teleweb Information Co Ltd 2,210,770.00 4%
Beijing BOE Vacuum Technology Co., Ltd. 2,277,718.00 4%
TPV Technology 2,327,766.00 4%
Total 28,553,204.00 50%
Notes:
Naught
5. Investment income
(1)List of investment income
Unit: RMB Yuan
Item Reporting period Same period of last year
Long-term equity investment income accounted by cost
2,200,000.00
method
Long-term equity investment income accounted by equity
-5,735,492.00 -2,732,738.00
method
Investment income arising from disposal of long-term equity
344,785.00
investments
Investment income received from holding of trading financial
assets
Investment income received from holding of held-to-maturity
investments
Investment income received from holding of
1,669,314.00 3,430,034.00
available-for-sale financial assets
Investment income received from disposal of trading
financial assets
Investment income received from holding of held-to-maturity
investments
Investment income received from available-for-sale financial
assets
Other
Total -1,521,393.00 697,296.00
191
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
(2)Long-term equity investment income accounted by cost method
Unit: RMB Yuan
Same period of last
Name of investee Reporting period Reason for increase/decrease YoY
year
Distribution of dividends in investee
Beijing BOE Vacuum Electronics Co., Ltd. 2,200,000.00
company
Total 2,200,000.00 --
(3) Long-term equity investment income accounted by equity method
Unit: RMB Yuan
Same period of last
Name of investee Reporting period Reason for increase/decrease YoY
year
Associated company that with an
Nissin Electronics -5,021,551.00 -3,246,756.00
increase in losses.
Associated company that with an
Nittan Electronics -265,717.00 532,000.00
increase in losses.
Julong Electronics -17,982.00 Already liquidated
Associated company that with an
Yingfei Hailin -348,546.00
increase in losses.
Associated company that with an
BOE Energy Investment -99,678.00
increase in losses.
Total -5,735,492.00 -2,732,738.00 --
Notes:
No limits.
6. Supplemental information of Cash Flow Statement
Unit: RMB Yuan
Supplemental information Reporting period Same period of last year
1. Reconciliation of net profit to net cash flows generated from
-- --
operations：
Net profit -390,210.00 -28,328,368.00
Add: Provision for assets impairments 295,830.00 153,695.00
Depreciation of fixed assets, oil and gas assets and productive
18,985,451.00 19,182,673.00
biological assets
Amortization of intangible assets 2,807,979.00 1,969,093.00
Amortization of long-term deferred expense 567,703.00 551,952.00
192
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
Losses/gains on disposal of property, intangible asset and other
-8,718,680.00 138,400.00
long-term assets (gains: negative)
Losses/gains on scrapped of fixed assets (gains: negative)
Losses/gains from variation of fair value (gains: negative)
Financial cost (income: negative) -47,647,828.00 -51,919,194.00
Investment loss (gains: negative) 1,521,393.00 -715,278.00
Decrease in deferred tax assets (increase: negative)
Increase in deferred tax liabilities (decrease: negative)
Decrease in inventory (increase: negative) -336,945.00 -223,440.00
Decrease in accounts receivable from operating activities (increase:
128,345,879.00 -24,880,403.00
negative)
Increase in accounts payable from operating activities (decrease:
-754,223,190.00 -65,039,306.00
negative)
Others
Net cash flows generated from operating activities -658,792,618.00 -149,110,174.00
2. Significant investing and financing activities without
-- --
involvement of cash receipts and payments
Debt converted into capital
Convertible company bonds due within 1 year
Financing leased fixed assets
3. Change of cash and cash equivalent: -- --
Closing balance of cash 2,219,086,475.00 2,414,025,206.00
Less: opening balance of cash 2,951,867,533.00 11,478,796,269.00
Plus: closing balance of cash equivalent
Less: opening balance of cash equivalents
The net increase in cash and cash equivalents -732,781,058.00 -9,064,771,063.00
7. Information of assets and liabilities recognized by evaluation value from the counter purchase
Naught
(XVI)Supplemental information
1. Return on equity and earnings per share
Unit: RMB Yuan
The weighted average ROE EPS
Profit in the reporting period
(%) Basic EPS Diluted EPS
Net profit attributable to the Company's -3.12% -0.058 -0.058
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Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
common stock shareholders
Net profit attributable to shareholders of the
Company's common stock after deducting -3.6% -0.067 -0.067
non-recurring gains and losses
2. Particulars on the abnormal conditions of main items in the financial statements of the Company and
relevant reasons
1) Analysis on movement of main items in Balance Unit: RMB Ten thousand
Sheet
Item 2012-6-30 2011-12-31 Rate of Reason for movement
movermen
t
Notes receivable 55,148 34,029 62% Part of accounts receivable due from customers was collected by
bill of exchange
Accounts receivable 338,639 256,080 32% Volume production and revenue was expanded by stage on new
projects, then increased accounts receivable
Advance payment 15,463 6,480 139% Volume production and revenue was expanded by stage on new
projects, then increased advance payment on purchasing for
appliers
Interest receivable 4,624 10,524 -56% Fixed deposit was reduced in reporting period
Other current assets 236,930 69,680 240% VAT credit balance was increase in reporting period
Construction in 575,276 841,292 -32% New project was under volume production by stage in reporting
process period, then construction in process was transferred into fixed
assets
Long-term deferred 23,387 2,286 923% Other deferred expenses aging over one year was increased in
expenses reporting period
Other non-current 24,870 7,068 252% Purchase prepayment for long-term assets was increased in
assets reporting period
Short-term loan 222,484 648,719 -66% Recovery of trading finance loan in reporting period
Advance receivables 41,756 18,607 124% Advance accounts from customers was increased in reporting
period
Taxes in charge 3,233 4,734 -32% Reduce of corporate income tax, business tax and individual
income tax in reporting period
Other current 5,211 8,865 -41% Write-off of product quality guarantee deposit withdrawn in
liabilities previous with the sales of products
2) Analysis on movement of main items on Income Unit: RMB Ten thousand
Statement
Item Jan. to Jun. 2012 Jan. to Jun. 2011 Rate of Main effect factor
194
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
moverment
Business revenue 960,888 494,003 95% Mainly because productivity of production line was improve
and sales of main products was increasing by volume
production of new project by stage, then made increase of
sales revenue;
Business cost 950,240 534,472 78% Mainly because productivity of production line was improve
and sales of main products was increasing by volume
production of new project by stage, then business cost was
increased by expansion of business revenue;
Sales expense 25,446 16,976 50% Mainly because productivity of production line was improve
and sales of main products was increasing by volume
production of new project by stage, then business cost was
increased by expansion of business revenue;
Financial expense 12,130 -7,528 261% Mainly because net interest cost was increased
Assets impairment -1,189 5,878 -120% The Company offset impairment based on the lower of cost
and net realizable value;
Investment -375 60 -728% Mainly because the Company recognized investment loss on
income (loss: associated companies;
negative)
Non-operating 16,009 7,324 119% Mainly because the Company writes off deferred income on
revenue a project according to the completion by stage
3)Analysis of change of Cash Flow Unit: RMB Ten thousand
Item Jan.–Jun. 2012 Jan.-Jun. 2011 Change rate Main influence factor
Net cash flow 12,183 -61,419 120% Business revenue was expanded in reporting period and
arising from price of main products was picking up
operating
activities
Net cash flow -219,815 -1,663,038 87% New projects were transferred into operation from
arising from construction, then purchase expense on engineer and
investment equipments was reduced
activities
Net cash flow 23,777 921,620 -97% New projects were transferred into operation from
arising from construction, then cash inflow arising from specific loan
financing was reduced
activities
195
Semi-annual Report 2012 of BOE Technology Group Co., Ltd.
VIII. Documents for Reference
Documents for Reference
1. Financial statements signed and sealed by legal representative, principal of accounting work, and manager of finance department;
2. In the reporting period, all originals of the Company’s documents and public notices have been publicly disclosed in newspapers
designated by CSRC.
Chairman of the Board of Directors: Mr. Wang Dongsheng
Date for submission approved by the Board of Directors: 27 August, 2012
196
