Abstract of the Report for the First Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
Stock code: 200725 Stock abbreviation: JDFB Announcement No.: 2013-023
BOE TECHNOLOGY GROUP CO., LTD.
ABSTRACT OF THE REPORT FOR THE FIRST QUARTER OF 2013
Section I. Important Reminders
The Board of Directors, the Supervisory Committee, directors, supervisors and senior management staff of BOE
TECHNOLOGY GROUP CO., LTD. (hereinafter referred to as “the Company”) warrant that this report does not
contain any false record or misleading statement or omit any material fact and shall hereby accept, individually
and collectively, responsibility for the factuality, accuracy and completeness of the contents carried in this report.
Mr. Wang Dongsheng, Chairman of the Board, Mr. Chen Yanshun, President of the Company, Ms. Sun Yun, chief
of the accounting work, and Ms. Yang Xiaoping, chief of the accounting organ (chief of accounting), hereby
confirm that the Financial Report enclosed in this report is factual, accurate and complete.
All directors have attended the board session for reviewing this report.
This report is prepared in both Chinese and English. Should there be any understanding discrepancy between the
two versions, the Chinese version shall prevail.
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Abstract of the Report for the First Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
Section II. Financial Highlights & Change of Shareholders
I. Financial highlights
Does the Company adjust retrospectively or restate any accounting data of previous years?
□ Yes √ No
Jan.-Mar. 2013 Jan.-Mar. 2012 +/- (%)
Operating revenues (RMB Yuan) 8,058,663,697.00 4,147,641,280.00 94.3%
Net profit attributable to shareholders of
286,903,021.00 -494,562,773.00 158.01%
the Company (RMB Yuan)
Net profit attributable to shareholders of
the Company after extraordinary gains and 226,213,962.00 -539,841,091.00 141.9%
losses (RMB Yuan)
Net cash flows from operating activities
1,460,591,533.00 -44,245,959.00 3,401.07%
(RMB Yuan)
Basic EPS (RMB Yuan/share) 0.021 -0.037 156.76%
Diluted EPS (RMB Yuan/share) 0.021 -0.037 156.76%
Weighted average ROE (%) 1.1% -1.95% 3.05%
31 Mar. 2013 31 Dec. 2012 +/- (%)
Total assets (RMB Yuan) 68,953,054,160 67,105,360,865 2.75%
Net assets attributable to shareholders of
26,176,757,398 25,886,959,650 1.12%
the Company (RMB Yuan)
Items and amounts of extraordinary gains and losses
√ Applicable □ Inapplicable
Unit: RMB Yuan
Item 1 Jan. 2013-31 Mar. 2013 Explanation
Gain/loss on the disposal of non-current assets (including the
-515,369.00 --
offset part of the asset impairment provisions)
Government grants recognized in the current period, except for
those acquired in the ordinary course of business or granted at
66,663,832.00 --
certain quotas or amounts according to the government’s unified
standards
Other gain and loss items that meet the definition of an
16,724,480.00 --
extraordinary gain/loss
Income tax effects 2,968,418.00 --
Minority interests effects (after tax) 19,215,466.00 --
Total 60,689,059.00 --
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Abstract of the Report for the First Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
II. Total number of shareholders at the period-end and shareholdings of top 10 shareholders
Unit: share
Total number of shareholders at the
374,589
period-end
Shareholdings of top 10 shareholders
Number of Pledged or frozen shares
Name of Nature of Shareholding Total shares held
restricted shares
shareholder shareholder percentage (%) at the period-end Status of shares Number of shares
held
Being E-TOWN
International
State-owned
Investment & 11.35% 1,534,059,406 635,000,000 Pledged 635,000,000
Corporation
Development
Co., Ltd.
Beijing BOE
Investment & State-owned
6.37% 860,981,080 0
Development Corporation
Co., Ltd.
Beijing
Economic-Techn
ological State-owned
6.27% 847,650,000 0
Investment & Corporation
Development
Corp.
Hefei Rongke
Project State-owned
5.86% 792,000,000 0
Investment Co., Corporation
Ltd.
Hefei Xincheng
State-Owned
State-owned
Assets 5.55% 750,000,000 0
Corporation
Management Co.,
Ltd.
Hefei Lan Ke
State-owned
Investment Co., 4.99% 674,079,600 0
Corporation
Ltd.
Beijing BDA
Technological Domestic
Investment non-state-owned 4.44% 600,000,000 0
Development corporation
Co., Ltd.
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Abstract of the Report for the First Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
Beijing Industry
Development &
On behalf of the
Investment 2.89% 390,893,974 0
country
Management Co.,
Ltd.
Beijing
Electronics On behalf of the
2.04% 275,303,883 2,000,000 Frozen 2,000,000
Holdings Co., country
Ltd.
China
Construction
Bank—Yinhua
Other 1.5% 202,836,146 0
Core Value
Selected Stock
Fund
Shareholdings of top 10 non-restricted shareholders
Variety of shares
Name of shareholder Number of non-restricted shares held
Variety Number
Being E-TOWN International
RMB ordinary
Investment & Development Co., 940,000,001 940,000,001
shares
Ltd.
Beijing BOE Investment & RMB ordinary
860,981,080 860,981,080
Development Co., Ltd. shares
Beijing Economic-Technological RMB ordinary
847,650,000 847,650,000
Investment & Development Corp. shares
Hefei Rongke Project Investment RMB ordinary
792,000,000 792,000,000
Co., Ltd. shares
Hefei Xincheng State-Owned Assets RMB ordinary
750,000,000 750,000,000
Management Co., Ltd. shares
RMB ordinary
Hefei Lan Ke Investment Co., Ltd. 674,079,600 674,079,600
shares
Beijing BDA Technological RMB ordinary
600,000,000 600,000,000
Investment Development Co., Ltd. shares
Beijing Industry Development & RMB ordinary
390,893,974 390,893,974
Investment Management Co., Ltd. shares
Beijing Electronics Holdings Co., RMB ordinary
275,303,883 275,303,883
Ltd. shares
China Construction Bank—Yinhua RMB ordinary
202,836,146 202,836,146
Core Value Selected Stock Fund shares
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Abstract of the Report for the First Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
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
Explanation on associated current effective laws and rules of the Company excluding right of disposition such as
relationship or persons acting in transfer, donation, mortgage etc. and usufruct (including claim for profit distribution and
concert among the above-mentioned claim for retained assets distribution).
shareholders 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 the other top ten shareholders exist associated relationship or not, or they are persons
acting in concert or not.
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Abstract of the Report for the First Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
Section III. Significant Events
I. Significant changes of the major accounting statement items and financial indicators for the
reporting period, as well as the reasons for these changes
1. Other receivables increased 67% over the year-begin mainly because the export VAT rebates receivable
increased.
2. Other non-current assets increased 96% over the year-begin mainly because the prepayments for fixed assets
increased.
3. Accounts received in advance increased 42% over the year-begin mainly because the advances from customers
increased.
4. Interest payable decreased 43% over the year-begin mainly because the interest on the syndicated loans for this
quarter was paid.
5. Other current liabilities increased 126% over the year-begin mainly because the pre-withdrawn earnest money
for the product quality increased.
6. Operating revenues increased 94% over the same period of last year mainly because the new projects produced
in a full capacity and the overall production capacity increased.
7. Operating costs increased 52% over the same period of last year mainly because operating revenues increased.
8. Sales expenses increased 126% over the same period of last year mainly because operating revenues increased.
9. Administrative expenses increased 46% over the same period of last year mainly because the new projects
produced in a full capacity and the R&D input increased.
10. Financial expenses increased 418% over the same period of last year mainly because the interest expenses
increased.
11. Non-operating income increased 38% over the same period of last year mainly because some debts were
wiped off and the governmental subsidies carried over in steps from deferred income to gain/loss increased.
12. Net cash flows from operating activities increased 3401% over the same period of last year mainly because the
main business reached full production and full sale, the operating revenues increased and the operating results
improved.
13. Net cash flows from investing activities increased 54% over the same period of last year mainly because the
new projects moved from the construction period to the operation period and the engineering and equipment
procurement decreased.
14. Net cash flows from financing activities increased 87% over the same period of last year mainly because the
Company repaid some trade borrowings last year and the cash outflows from financing activities decreased this
year.
II. Commitments made by the Company or any shareholder with a shareholding over 5% in
the reporting period or such commitments carried down into the reporting period
Commitment Contents of Date of Period of
Commitment Execution
maker commitment commitment commitment
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Abstract of the Report for the First Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
The term of
Being E-TOWN locking shares
International purchased
Commitment made in IPO or re-financing Investment & through 13 Dec. 2010 Three years In execution
Development non-public
Co., Ltd. issuance in 2010
is three years
Executed in time or not Yes
Specific reason for failing to fulfill the
N/A
commitment and the plan for the next step
Promised time needed to solve the
N/A
problems
Way of solving the problems N/A
Execution In execution
III. Predict the operating results of Jan.-Jun. 2013
Warning of possible loss or considerable YoY change of the accumulated net profit made during the period-begin to the end of the
next reporting period according to prediction, as well as explanations on the reasons:
√ Applicable □ Inapplicable
Prediction: turning deficit to profit
Type of the predicted data: interval data
Jan.-Jun. 2013 Jan.-Jun. 2012 +/- (%)
Predicted accumulative net
60,000 -- 65,000 -78,688 Up 176% -- 183%
profit (RMB Ten thousand)
Basic EPS (RMB Yuan/share) 0.044 -- 0.048 -0.058 Up 176% -- 183%
1. Starting from 2013, the average price of the Company’s main products is higher than that of the
same period of last year, with the prices of medium-and large-sized products expected to rise
steadily in the second quarter of the year. Meanwhile, the production capacity is also obviously
Explanation about the larger than the same period of last year. The result of the scale operation has started to show.
predictions 2. In the first half of 2013, all production lines will keep full production and sale. The product
structure adjustment and raw material cost control will produce some marked results. The
proportion of products with high added value will increase. And the operating revenues and the
gross profit rate will both increase over the same period of last year.
IV. Researches, visits and interviews received in the reporting period
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Abstract of the Report for the First Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
Main discussion and materials provided
Time of reception Place of reception Way of reception Visitor type Visitor
by the Company
Conference Room of the
14 Jan. 2013 Field research Individual Li Feng
Company
Wedge Ptrns, Wedge Partner
17 Jan. 2013 Teleconference By phone Institution
Asset Management
Conference Room of the First Capital Securities Co.,
17 Jan. 2013 Field research Institution
Company Ltd.
HuaAn Fund Management
Co., Ltd., Shenyin & Main discussion: 1. Operation of the
Conference Room of the Wanguo Securities, CCB Company and its future development
23 Jan. 2013 Field research Institution
Company Principal Asset Management strategies; 2. Industry situation and
Co., Ltd., Yinhua Fund development trends; 3. The several
Management Co., Ltd. production lines of the Company.
Conference Room of the Materials provided by the Company: the
29 Jan. 2013 Field research Institution Arete Research Asia Ltd
Company annual reports of 2010 and 2011, the
brochure and other materials for public
Atlantis Investment
Management(H.K)Limited, access
Central Asset Investments,
SWS, BOC International
(China) Limited, Cape Asset
CICC Conference Room
30 Jan. 2013 Field research Institution Management, Shenzhen
(Hong Kong)
Lynch Investment Co., Ltd.
Value Partners,
TELLIGENT, J.P.Morgan
Asset Management, CAPE,
Star Capital, China Asset
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Abstract of the Report for the First Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
Management (Hong Kong),
JK Capital, China Everbight
Limited, Manulife Asset
Management, Eagle Asset
Management, Fuh Hwa Asset
Management, AMP Capital,
LIM Advisors, Xiangying
Asset Management, Hang
Seng Investment, Haitong
International, Cowin
Investment, Orient Overseas
Container Line Limited,
Wisewin Investment
Management (Asia) Limited,
Light Horse Asset
Management Limited
Tian Hong Asset
Management, Huashang
Conference Room of the
22 Feb. 2013 Field research Institution Fund Management, CCB
Company
Principal Asset Management,
Cinda Securities
Conference Room of the
25 Feb. 2013 Field research Institution Alkeon Capital Management
Company
27 Feb. 2013 Teleconference By phone Institution Oppenheimer & Co.Inc.
Conference Room of the Shanghai Xinquan
28 Feb. 2013 Field research Institution
Company Investment Co., Ltd.
6 Mar. 2013 Teleconference By phone Institution Allianz Globai Investors
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Abstract of the Report for the First Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
Hua Chuang Securities,
Conference Room of the ICBC Credit Suisse Asset
13 Mar. 2013 Field research Institution
Company Management, BOC
International (China)
Conference Room of the Minsheng Securities,
14 Mar. 2013 Field research Institution
Company Dacheng Fund Management
Huashang Fund
Conference Room of the Management, CCB Principal
19 Mar. 2013 Field research Institution
Company Asset Management, Tian
Hong Asset Management
China Galaxy Investment
Management, China
Conference Room of the
22 Mar. 2013 Field research Institution Universal Management,
Company
Guosen Securities, Minsheng
Royal Fund Management
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Abstract of the Report for the First Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
Chairman of the Board: Mr. Wang Dongsheng (signature)
Date of the Board of Directors approving to report:
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