REPORT FOR THE FIRST QUARTER OF 2013
April 2013
Report for the First Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
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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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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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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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 Investment & RMB ordinary
940,000,001 940,000,001
Development Co., Ltd. shares
Beijing BOE Investment & Development Co., RMB ordinary
860,981,080 860,981,080
Ltd. shares
Beijing Economic-Technological Investment RMB ordinary
847,650,000 847,650,000
& Development Corp. shares
RMB ordinary
Hefei Rongke Project Investment Co., Ltd. 792,000,000 792,000,000
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 Investment RMB ordinary
600,000,000 600,000,000
Development Co., Ltd. shares
Beijing Industry Development & Investment RMB ordinary
390,893,974 390,893,974
Management Co., Ltd. shares
RMB ordinary
Beijing Electronics Holdings Co., Ltd. 275,303,883 275,303,883
shares
China Construction Bank—Yinhua Core RMB ordinary
202,836,146 202,836,146
Value Selected Stock Fund shares
Explanation on associated relationship or 1. Beijing Electronics Holdings Co., Ltd. holds 66.25% shares of Beijing BOE
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Report for the First Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
persons acting in concert among the Investment & Development Co., Ltd. and is its controlling shareholder.
above-mentioned shareholders 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 the other top ten shareholders exist associated relationship or not, or they
are persons acting in concert or not.
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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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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 larger than
Explanation about the 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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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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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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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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Report for the First Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
Section IV. Financial Statements
I. Financial statements
1. Consolidated balance sheet
Prepared by BOE TECHNOLOGY GROUP CO., LTD.
Unit: RMB Yuan
Item Closing balance Opening balance
Current Assets:
Monetary funds 16,540,286,439 15,211,851,133
Settlement reserves 0 0
Intra-group lendings 0 0
Transactional financial assets 0 0
Notes receivable 899,584,110 860,883,384
Accounts receivable 5,670,483,982 5,196,041,164
Accounts paid in advance 99,099,583 118,558,011
Premiums receivable 0 0
Reinsurance premiums receivable 0 0
Receivable reinsurance contract 0 0
reserves
Interest receivable 39,178,603 30,850,933
Dividend receivable 0 0
Other accounts receivable 765,923,647 459,082,392
Financial assets purchased under 0 0
agreements to resell
Inventories 2,886,258,773 2,668,906,527
Non-current assets due within 1 year 0 0
Other current assets 1,103,948,491 1,284,972,353
Total current assets 28,004,763,628 25,831,145,897
Non-current assets:
Loans by mandate and advances 0 0
granted
Available-for-sale financial assets 118,693,337 116,600,700
Held-to-maturity investments 0 0
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Report for the First Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
Long-term accounts receivable 0 0
Long-term equity investment 971,975,116 971,409,821
Investing property 1,285,808,878 1,309,561,041
Fixed assets 33,574,636,138 34,534,107,374
Construction in progress 2,763,092,704 2,294,256,409
Engineering materials 0 0
Disposal of fixed assets 136,957 0
Production biological assets 0 0
Oil-gas assets 0 0
Intangible assets 1,465,302,961 1,497,109,054
R&D expense 0 0
Goodwill 51,502,898 51,502,898
Long-term deferred expenses 220,138,506 222,578,163
Deferred income tax assets 47,685,049 47,700,956
Other non-current assets 449,317,988 229,388,552
Total of non-current assets 40,948,290,532 41,274,214,968
Total assets 68,953,054,160 67,105,360,865
Current liabilities:
Short-term borrowings 934,233,842 727,267,475
Borrowings from Central Bank 0 0
Customer bank deposits and due to 0 0
banks and other financial institutions
Intra-group borrowings 0 0
Transactional financial liabilities 0 0
Notes payable 59,361,988 51,621,956
Accounts payable 5,411,299,076 5,452,578,519
Accounts received in advance 917,111,066 647,932,719
Financial assets sold for repurchase 0 0
Handling charges and commissions 0 0
payable
Employee’s compensation payable 425,897,127 539,910,148
Tax payable 503,412,578 48,857,070
Interest payable 55,742,687 98,478,461
Dividend payable 8,051,170 8,051,170
Other accounts payable 2,681,495,073 3,201,279,824
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Report for the First Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
Reinsurance premiums payable 0 0
Insurance contract reserves 0 0
Payables for acting trading of 0 0
securities
Payables for acting underwriting of 0 0
securities
Non-current liabilities due within 1 1,480,806,819 1,544,020,648
year
Other current liabilities 214,068,912 94,629,652
Total current liabilities 12,691,480,338 12,414,627,642
Non-current liabilities:
Long-term borrowings 18,597,386,033 17,373,155,700
Bonds payable 0 0
Long-term payables 0 0
Specific payables 0 0
Estimated liabilities 16,536,806 16,536,805
Deferred income tax liabilities 376,438,313 388,933,221
Other non-current liabilities 1,603,374,664 1,647,293,045
Total non-current liabilities 20,593,735,816 19,425,918,771
Total liabilities 33,285,216,154 31,840,546,413
Owners’ equity (or shareholders’
equity)
Paid-up capital (or share capital) 13,521,542,341 13,521,542,341
Capital reserves 15,346,890,862 15,344,798,225
Less: Treasury stock 0 0
Specific reserves 0 0
Surplus reserves 499,092,613 499,092,613
Provisions for general risks 0 0
Retained profits -3,189,269,581 -3,476,172,602
Foreign exchange difference -1,498,837 -2,300,927
Total equity attributable to owners of 26,176,757,398 25,886,959,650
the Company
Minority interests 9,491,080,608 9,377,854,802
Total owners’ (or shareholders’) equity 35,667,838,006 35,264,814,452
Total liabilities and owners’ (or 68,953,054,160 67,105,360,865
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Report for the First Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
shareholders’) equity
Legal representative: Mr. Wang Dongsheng Chief of the accounting work: Ms. Sun Yun
Chief of the accounting organ: Ms. Yang Xiaoping
2. Balance sheet of the Company
Prepared by BOE TECHNOLOGY GROUP CO., LTD.
Unit: RMB Yuan
Item Closing balance Opening balance
Current Assets:
Monetary funds 1,800,585,438 2,270,122,495
Transactional financial assets 0 0
Notes receivable 1,000,000 8,029,371
Accounts receivable 75,477,723 65,227,239
Accounts paid in advance 1,668,923 7,427,483
Interest receivable 10,670,584 11,141,532
Dividend receivable 10,404,147 10,404,147
Other accounts receivable 338,698,888 315,211,684
Inventories 6,688,211 8,644,936
Non-current assets due within 1 year 0 0
Other current assets 50,319,129 48,503,107
Total current assets 2,295,513,043 2,744,711,994
Non-current assets:
Available-for-sale financial assets 118,693,337 116,600,700
Held-to-maturity investments 0 0
Long-term accounts receivable 0 0
Long-term equity investment 29,475,781,919 29,075,216,625
Investing property 165,879,220 167,026,713
Fixed assets 388,319,466 393,735,701
Construction in progress 182,948,133 155,430,341
Engineering materials 0 0
Disposal of fixed assets 0 0
Production biological assets 0 0
Oil-gas assets 0 0
Intangible assets 118,187,978 119,518,806
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Report for the First Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
R&D expense 0 0
Goodwill 0 0
Long-term deferred expenses 3,932,245 2,451,575
Deferred income tax assets 0 0
Other non-current assets 4,016,377 600,502
Total of non-current assets 30,457,758,675 30,030,580,963
Total assets 32,753,271,718 32,775,292,957
Current liabilities:
Short-term borrowings 0 0
Transactional financial liabilities 0 0
Notes payable 0 0
Accounts payable 11,960,239 37,592,580
Accounts received in advance 8,435,445 11,020,738
Employee’s compensation payable 44,162,013 84,881,764
Tax payable 14,792,712 14,285,183
Interest payable 0 0
Dividend payable 6,451,171 6,451,170
Other accounts payable 3,978,171,107 3,914,820,896
Non-current liabilities due within 1
50,000,000 50,000,000
year
Other current liabilities 0 0
Total current liabilities 4,113,972,687 4,119,052,331
Non-current liabilities:
Long-term borrowings 50,000,000 50,000,000
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 89,096,134 85,335,021
Total non-current liabilities 139,096,134 135,335,021
Total liabilities 4,253,068,821 4,254,387,352
Owners’ equity (or shareholders’
equity)
Paid-up capital (or share capital) 13,521,542,341 13,521,542,341
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Report for the First Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
Capital reserves 15,138,567,951 15,136,475,314
Less: Treasury stock 0 0
Specific reserves 0 0
Surplus reserves 499,092,613 499,092,613
Provisions for general risks 0 0
Retained profits -659000008 -636204663
Foreign exchange difference 0 0
Total owners’ (or shareholders’) equity 28,500,202,897 28,520,905,605
Total liabilities and owners’ (or
32,753,271,718 32,775,292,957
shareholders’) equity
Legal representative: Mr. Wang Dongsheng Chief of the accounting work: Ms. Sun Yun
Chief of the accounting organ: Ms. Yang Xiaoping
3. Consolidated income statement
Prepared by BOE TECHNOLOGY GROUP CO., LTD.
Unit: RMB Yuan
Item Jan.-Mar. 2013 Jan.-Mar. 2012
I. Total operating revenues 8,058,663,697 4,147,641,280
Including: Sales income 8,058,663,697 4,147,641,280
Interest income 0 0
Premium income 0 0
Handling charge and
0 0
commission income
II. Total operating cost 7,737,412,570 4,914,498,673
Including: Cost of sales 6,359,705,018 4,187,777,170
Interest expenses 0 0
Handling charge and
0 0
commission expenses
Surrenders 0 0
Net claims paid 0 0
Net amount withdrawn for the
0 0
insurance contract reserve
Expenditure on policy dividends 0 0
Reinsurance premium 0 0
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Report for the First Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
Taxes and associate charges 16,345,710 7,702,861
Selling and distribution expenses 276,288,031 122,244,706
Administrative expenses 683,539,722 469,276,557
Financial expenses 139,484,024 -43,866,488
Asset impairment loss 262,050,065 171,363,867
Add: Gain/(loss) from change in fair
0 0
value (“-” means loss)
Gain/(loss) from investment (“-”
565,295 -1,354,925
means loss)
Including: share of profits in associates
565,295 -1,354,925
and joint ventures
Foreign exchange gains (“-” means
0 0
loss)
III. Business profit (“-” means loss) 321,816,422 -768,212,318
Add: non-operating income 83,456,055 60,403,765
Less: non-operating expense 583,111 803,185
Including: loss from non-current asset
564,668 517,436
disposal
IV. Total profit (“-” means loss) 404,689,366 -708,611,738
Less: Income tax expense 4,560,539 1,921,950
V. Net profit (“-” means loss) 400,128,827 -710,533,688
Including: Net profit achieved by
combined parties before the 0 0
combinations
Attributable to owners of the
286,903,021 -494,562,773
Company
Minority shareholders’ income 113,225,806 -215,970,915
VI. Earnings per share -- --
(I) Basic earnings per share 0.021 -0.037
(II) Diluted earnings per share 0.021 -0.037
Ⅶ. Other comprehensive incomes 2,894,727 -16,965,037
Ⅷ. Total comprehensive incomes 403,023,554 -727,498,725
Attributable to owners of the
289,797,748 -511,527,810
Company
Attributable to minority
113,225,806 -215,970,915
shareholders
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Report for the First Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
Legal representative: Mr. Wang Dongsheng Chief of the accounting work: Ms. Sun Yun
Chief of the accounting organ: Ms. Yang Xiaoping
4. Income statement of the Company
Prepared by BOE TECHNOLOGY GROUP CO., LTD.
Unit: RMB Yuan
Item Jan.-Mar. 2013 Jan.-Mar. 2012
I. Sales income 115,417,654 77,049,315
Less: cost of sales 31,075,921 25,086,807
Business taxes and surcharges 2,551,661 2,000,122
Distribution expenses 1,213,807 335,231
Administrative expenses 118,118,721 72,575,419
Financial costs -13,354,000 -22,863,402
Impairment loss 0 48,575
Add: gain/(loss) from change in fair
0 0
value (“-” means loss)
Gain/(loss) from investment (“-” means
565,295 -1,354,925
loss)
Including: income form investment on
565,295 -1,354,925
associates and joint ventures
II. Business profit (“-” means loss) -23,623,161 -1,488,362
Add: non-business income 830,616 4,711,960
Less: non-business expense 2,800 0
Including: loss from non-current asset
0 0
disposal
III. Total profit (“-” means loss) -22,795,345 3,223,598
Less: income tax expense 0 0
IV. Net profit (“-” means loss) -22,795,345 3,223,598
V. Earnings per share -- --
(I) Basic earnings per share -0.0017 0.0002
(II) Diluted earnings per share -0.0017 0.0002
VI. Other comprehensive income 2,092,637 -17,507,589
VII. Total comprehensive income -20,702,708 -14,283,991
Legal representative: Mr. Wang Dongsheng Chief of the accounting work: Ms. Sun Yun
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Report for the First Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
Chief of the accounting organ: Ms. Yang Xiaoping
5. Consolidated cash flow statement
Prepared by BOE TECHNOLOGY GROUP CO., LTD.
Unit: RMB Yuan
Item Jan.-Mar. 2013 Jan.-Mar. 2012
I. Cash flows from operating activities:
Cash received from sale of
7,362,659,563.00 3,777,236,834.00
commodities and rendering of service
Net increase of deposits from
customers and dues from banks
Net increase of loans from the central
bank
Net increase of funds borrowed from
other financial institutions
Cash received from premium of
original insurance contracts
Net cash received from reinsurance
business
Net increase of deposits of policy
holders and investment fund
Net increase of disposal of tradable
financial assets
Cash received from interest, handling
charges and commissions
Net increase of intra-group
borrowings
Net increase of funds in repurchase
business
Tax refunds received 277,597,406.00 50,483,943.00
Other cash received relating to
133,863,470.00 124,401,105.00
operating activities
Subtotal of cash inflows from operating
7,774,120,439.00 3,952,121,882.00
activities
Cash paid for goods and services 4,961,761,422.00 3,169,018,349.00
Net increase of customer lendings
and advances
19
Report for the First Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
Net increase of funds deposited in the
central bank and amount due from
banks
Cash for paying claims of the original
insurance contracts
Cash for paying interest, handling
charges and commissions
Cash for paying policy dividends
Cash paid to and for employees 767,737,467.00 525,852,372.00
Various taxes paid 234,395,085.00 43,105,083.00
Other cash payment relating to
349,634,932.00 258,392,037.00
operating activities
Subtotal of cash outflows from
6,313,528,906.00 3,996,367,841.00
operating activities
Net cash flows from operating activities 1,460,591,533.00 -44,245,959.00
II. Cash flows from investing activities:
Cash received from withdrawal of
investments
Cash received from return on
investments
Net cash received from disposal of
fixed assets, intangible assets and other 57,410.00 86,500.00
long-term assets
Net cash received from disposal of
subsidiaries or other business units
Other cash received relating to
232,745,776.00 132,480,714.00
investing activities
Subtotal of cash inflows from
232,803,186.00 132,567,214.00
investing activities
Cash paid to acquire fixed assets,
intangible assets and other long-term 1,298,473,831.00 2,498,938,550.00
assets
Cash paid for investment
Net increase of pledged loans
Net cash paid to acquire subsidiaries
and other business units
Other cash payments relating to
21,199,726.00 7,370,726.00
investing activities
20
Report for the First Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
Subtotal of cash outflows from
1,319,673,557.00 2,506,309,276.00
investing activities
Net cash flows from investing activities -1,086,870,371.00 -2,373,742,062.00
III. Cash Flows from Financing
Activities:
Cash received from capital
contributions
Including: Cash received from
minority shareholder investments by
subsidiaries
Cash received from borrowings 1,908,751,739.00 1,939,588,837.00
Cash received from issuance of
bonds
Other cash received relating to
11,591,711.00 1,860,423,368.00
financing activities
Subtotal of cash inflows from financing
1,920,343,450.00 3,800,012,205.00
activities
Repayment of borrowings 670,908,643.00 3,005,378,302.00
Cash paid for interest expenses and
277,659,730.00 291,848,940.00
distribution of dividends or profit
Including: dividends or profit paid
by subsidiaries to minority shareholders
Other cash payments relating to
39,631,410.00 3,904,395.00
financing activities
Sub-total of cash outflows from
988,199,783.00 3,301,131,637.00
financing activities
Net cash flows from financing activities 932,143,667.00 498,880,568.00
IV. Effect of foreign exchange rate
-34,307,742.00 5,246,049.00
changes on cash and cash equivalents
V. Net increase in cash and cash
1,271,557,087.00 -1,913,861,404.00
equivalents
Add: Opening balance of cash and
13,556,486,692.00 12,959,533,670.00
cash equivalents
VI. Closing balance of cash and cash
14,828,043,779.00 11,045,672,266.00
equivalents
Legal representative: Mr. Wang Dongsheng Chief of the accounting work: Ms. Sun Yun
Chief of the accounting organ: Ms. Yang Xiaoping
21
Report for the First Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
6. Cash flow statement of the Company
Prepared by BOE TECHNOLOGY GROUP CO., LTD.
Unit: RMB Yuan
Item Jan.-Mar. 2013 Jan.-Mar. 2012
I. Cash flows from operating activities:
Cash received from sale of
31,481,291.00 30,553,895.00
commodities and rendering of service
Tax refunds received
Other cash received relating to
122,050,655.00 89,540,015.00
operating activities
Subtotal of cash inflows from operating
153,531,946.00 120,093,910.00
activities
Cash paid for goods and services 43,125,205.00 17,308,364.00
Cash paid to and for employees 108,437,778.00 69,807,870.00
Various taxes paid 1,593,603.00 4,384,186.00
Other cash payment relating to
72,602,657.00 615,454,249.00
operating activities
Subtotal of cash outflows from
225,759,243.00 706,954,669.00
operating activities
Net cash flows from operating activities -72,227,297.00 -586,860,759.00
II. Cash flows from investing activities:
Cash received from retraction of
investments
Cash received from return on
investments
Net cash received from disposal of
fixed assets, intangible assets and other 36,000.00
long-term assets
Net cash received from disposal of
subsidiaries or other business units
Other cash received relating to
10,212,111.00 13,570,631.00
investing activities
Subtotal of cash inflows from
10,248,111.00 13,570,631.00
investing activities
Cash paid to acquire fixed assets,
intangible assets and other long-term 7,679,449.00 71,890,482.00
assets
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Report for the First Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
Cash paid for investment 400,000,000.00
Net cash paid to acquire subsidiaries
and other business units
Other cash payments relating to
investing activities
Subtotal of cash outflows from
407,679,449.00 71,890,482.00
investing activities
Net cash flows from investing activities -397,431,338.00 -58,319,851.00
III. Cash Flows from Financing
Activities:
Cash received from capital
contributions
Cash received from borrowings
Cash received from issuance of
bonds
Other cash received relating to
83,385,627.00
financing activities
Subtotal of cash inflows from financing
83,385,627.00
activities
Repayment of borrowings 34,021,667.00
Cash paid for interest expenses and
1,315,665.00
distribution of dividends or profit
Other cash payments relating to
financing activities
Sub-total of cash outflows from
35,337,332.00
financing activities
Net cash flows from financing activities 48,048,295.00
IV. Effect of foreign exchange rate
-2,356.00 -2,357.00
changes on cash and cash equivalents
V. Net increase in cash and cash
-469,660,991.00 -597,134,672.00
equivalents
Add: Opening balance of cash and
2,264,319,604.00 2,951,867,533.00
cash equivalents
VI. Closing balance of cash and cash
1,794,658,613.00 2,354,732,861.00
equivalents
Legal representative: Mr. Wang Dongsheng Chief of the accounting work: Ms. Sun Yun
Chief of the accounting organ: Ms. Yang Xiaoping
23
Report for the First Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
II. Audit report
Is this report audited?
□ Yes √ No
24
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:
25