BOE TECHNOLOGY GROUP CO., LTD.
Report for the Third Quarter of 2013
October 2013
Report for the Third Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
Section I. Important Reminders
The Board of Directors, the Supervisory Committee as well as all directors, supervisors and senior
management staff of BOE Technology Group Co., Ltd. (hereinafter referred to as “the Company”)
warrant that this report is factual, accurate and complete without any false record, misleading
statement or material omission. And they shall be jointly and severally liable for that.
Except for the following director, all the other directors have attended in person the board session
for reviewing this report.
Reason for not
Name Position attending the session in Name of the proxy
person
Yu Ning Independent Director For the reason of work Ji Guoping
Mr. Wang Dongsheng, company principal, 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 statements enclosed in this report are factual,
accurate and complete.
This report is prepared in both Chinese and English. Should there be any discrepancy between the
two versions, the Chinese version shall prevail.
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Report for the Third Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
Section II. Financial Highlights & Change of Shareholders
I. Major accounting data and financial indexes
Does the Company adjust retrospectively or restate accounting data of previous years due to change of the
accounting policy or correction of any accounting error?
□ Yes √ No
Item 30 Sept. 2013 31 Dec. 2012 Increase/decrease (%)
Total assets (RMB Yuan) 90,614,581,894.00 67,105,360,865.00 35.03%
Net assets attributable to
shareholders of the Company 27,250,068,430.00 25,886,959,650.00 5.27%
(RMB Yuan)
YoY increase/decrease YoY increase/decrease
Item Jul.-Sept. 2013 Jan.-Sept. 2013
(%) (%)
Operating revenues (RMB Yuan) 8,519,445,647.00 13.38% 24,773,771,714.00 44.68%
Net profit attributable to
shareholders of the Company 499,824,938.00 229.68% 1,359,113,831.00 Inapplicable
(RMB Yuan)
Net profit attributable to
shareholders of the Company after
442,855,029.00 Inapplicable 1,210,281,809.00 Inapplicable
extraordinary gains and losses
(RMB Yuan)
Net cash flows from operating
-- -- 4,329,984,046 974.78%
activities (RMB Yuan)
Basic EPS (RMB Yuan/share) 0.037 236.36% 0.101 Inapplicable
Diluted EPS (RMB Yuan/share) 0.037 236.36% 0.101 Inapplicable
Weighted average ROE (%) 1.85% 203.28% 5.12% Inapplicable
Items and amounts of extraordinary gains and losses
√Applicable □Inapplicable
Unit: RMB Yuan
Item Amount as of Jan.-Sept. 2013 Note
Gains/losses on the disposal of non-current assets (including the
-86,709,983.00 --
offset part of asset impairment provisions)
Tax rebates, reductions or exemptions due to approval beyond
0.00 --
authority or the lack of official approval documents
Government grants recognized in the current period, except for
those acquired in the ordinary course of business or granted at
260,187,319.00 --
certain quotas or amounts according to the country’s unified
standards
Capital occupation charges on non-financial enterprises that
0.00 --
recorded into current gains and losses
Gains due to that the investment costs for the Company to obtain
subsidiaries, associates and joint ventures are lower than the
0.00 --
enjoyable fair value of the identifiable net assets of the investees
when making the investments
Gain/loss on non-monetary asset swap 0.00 --
Gain/loss on entrusting others with investments or asset
0.00 --
management
Asset impairment provisions due to acts of God such as natural
0.00 --
disasters
Gain/loss on debt restructuring 0.00 --
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Report for the Third Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
Expenses for business reorganization, such as expenses for
0.00 --
staffing, reorganization etc.
Gain/loss on the part over the fair value due to transactions with
0.00 --
distinctly unfair prices
Current gains and losses of subsidies acquired from business
combination under the same control as from period-begin to 0.00 --
combination date
Gain/loss on contingent events irrelevant to the Company’s
0.00 --
normal business
Gains and losses on change in fair value from tradable financial
assets and tradable financial liabilities, as well as investment
income from disposal of tradable financial assets and tradable
0.00 --
financial liabilities and financial assets available for sales, except
for effective hedging related with normal businesses of the
Company
Reversal of impairment provisions for the accounts receivable on
0.00 --
which impairment tests were carried out separately
Gain/loss on external entrustment loans 0.00 --
Gain/loss on change of the fair value of investing real estate of
which the subsequent measurement is carried out adopting the fair 0.00 --
value method
Effect on current gains/losses when a one-off adjustment is made
to current gains/losses according to requirements of taxation, 0.00 --
accounting and other relevant laws and regulations
Custody fee income when entrusted with operation 0.00 --
Other non-operating income and expenses other than the above 41,409,026.004 --
Other gain/loss items that meet the definition of an extraordinary
0.00 --
gain/loss
Less: Income tax effects 22,027,329.00 --
Minority interests effects (after tax) 44,027,011.00 --
Total 148,832,022.00 --
Explain the reasons if the Company classifies an item as an extraordinary gain/loss according to the definition in
the Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the
Public—Extraordinary Gains and Losses, or classifies any extraordinary gain/loss item mentioned in the said
explanatory announcement as a recurrent gain/loss item
□ Applicable √ Inapplicable
II. Total number of shareholders at the period-end and shares held by the top ten
shareholders
Unit: share
Total number of shareholders at the
396,374 shareholders, including 359,091 A-share holders and 37,283 B-share holders
period-end
Shares held by the top ten shareholders
Shareholdi Pledged or frozen shares
Nature of ng Number of the Number of the
Name of shareholder Status of Number of
shareholder percentage shares held restricted shares held
(%) shares shares
Being E-TOWN International
State-owned
Investment & Development Co., 10.98% 1,484,159,406 594,059,405 Pledged 635,000,000
Corporation
Ltd.
Beijing BOE Investment & State-owned
6.37% 860,981,080 0 -- --
Development Co., Ltd. Corporation
Beijing Economic-Technological State-owned
6.27% 847,650,000 0 Pledged 423,825,000
Investment & Development Corp. Corporation
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Report for the Third Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
Hefei Rongke Project Investment State-owned
4.99% 675,026,803 0 -- --
Co., Ltd. Corporation
Beijing BDA Technological
Other 4.44% 600,000,000 0 Pledged 300,000,000
Investment Development Co., Ltd.
China Construction Bank—Yinhua
Other 2.22% 300,000,000 0 -- --
Core Value Selected Stock Fund
Beijing Electronics Holdings Co.,
State 2.04% 275,303,883 0 Frozen 2,000,000
Ltd.
Hefei Xincheng State-Owned Assets State-owned
2.03% 274,848,276 0 -- --
Management Co., Ltd. Corporation
State-owned
Hefei Lan Ke Investment Co., Ltd. 0.9% 122,369,283 0 -- --
Corporation
Sinotrans Air Transportation
Other 0.83% 111,600,000 0 -- --
Development Co., Ltd.
Shares held by the top ten non-restricted share holders
Type of shares
Name of shareholder Number of non-restricted shares held
Type Number
Being E-TOWN International RMB ordinary
890,100,001 890,100,001
Investment & Development Co., Ltd. shares
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 Co., RMB ordinary
675,026,803 675,026,803
Ltd. shares
Beijing BDA Technological Investment RMB ordinary
600,000,000 600,000,000
Development Co., Ltd. shares
China Construction Bank—Yinhua RMB ordinary
300,000,000 300,000,000
Core Value Selected Stock Fund shares
RMB ordinary
Beijing Electronics Holdings Co., Ltd. 275,303,883 275,303,883
shares
Hefei Xincheng State-Owned Assets RMB ordinary
274,848,276 274,848,276
Management Co., Ltd. shares
RMB ordinary
Hefei Lan Ke Investment Co., Ltd. 122,369,283 122,369,283
shares
Sinotrans Air Transportation RMB ordinary
111,600,000 111,600,000
Development Co., Ltd. shares
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
Explanation on associated relationship
as transfer, donation, mortgage etc. and usufruct (including claim for profit distribution
or persons acting in concert among the
and claim for retained assets distribution).
above-mentioned 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 the relationship above, it is unknown whether
the other top ten shareholders are related parties or not, or they are persons acting in
concert or not.
Shareholders taking part in margin
Naught
financing and securities lending (if any)
Did any shareholder of the Company carry out an agreed buy-back in the reporting period?
□ Yes √ No
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Report for the Third Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
Section III. Significant Events
I. Major changes of main accounting statement items and financial indicators in the reporting
period, as well as reasons for the changes
1. Monetary funds increased 54% on the year-on-year basis mainly because of the new borrowings for new
projects and the operating cash inflows.
2. Prepayments increased 111% on the year-on-year basis mainly because the prepayments to suppliers increased.
3. Interest receivable increased 212% on the year-on-year basis mainly because the monetary funds increased.
4. Construction in process increased 688% on the year-on-year basis mainly because the consolidation scope
expanded and some new projects were in the stage of construction, bringing up engineering construction and
equipment procurement.
5. Other non-current assets increased 389% on the year-on-year basis mainly because the new project company
was newly consolidated and the prepayments for engineering equipment increased.
6. Short-term borrowings increased 1605% on the year-on-year basis mainly because of the new borrowings for
new projects and the expanded consolidation scope.
7. Notes payable increased 179% on the year-on-year basis mainly because some payments were made with notes.
8. Accounts received in advance decreased 51% on the year-on-year basis mainly because the advances from
customers decreased.
9. Taxes and fares payable increased 110% on the year-on-year basis mainly because the operating results
improved and the enterprise income tax increased accordingly.
10. Interest payable increased 88% on the year-on-year basis mainly because the short-term borrowings increased.
11. Other payables increased 63% on the year-on-year basis mainly because some new projects were in the stage
of construction and the payables for engineering equipment increased.
12. Other current liabilities increased 176% on the year-on-year basis mainly because our company provisioned
quality guarantee money according to a fixed proportion of revenue, the pre-withdrawn product quality guarantee
money increased as the operating revenues increased.
13. Operating revenues increased 45% on the year-on-year basis mainly because the new projects operated at full
capacity, lifting the overall production capacity.
14. Selling expenses increased 97% on the year-on-year basis mainly because it increased as the operating
revenues increased.
15. Administrative expenses increased 48% on the year-on-year basis mainly because the new projects operated at
full capacity and R&D efforts were enhanced.
16. Financial expenses increased 35% on the year-on-year basis mainly because the interest expenses increased.
17. Asset impairment loss increased 1046% on the year-on-year basis mainly because the inventory impairment
provision was made in the display device division at the lower between the cost and the net realizable value.
18. Investment gains (“-” for loss) increased 122% on the year-on-year basis mainly because the operation of
associates improved.
19. Non-operating expenses increased 552% on the year-on-year basis mainly because the loss on disposal of
fixed assets was recognized.
20. Net cash flows from operating activities increased 975% on the year-on-year basis mainly because the main
business improved.
21. Net cash flows from investing activities decreased 520% on the year-on-year basis mainly because the
investment expenses on new projects increased.
22. Net cash flows from financing activities increased 4107% on the year-on-year basis mainly because the cash
inflows from new project borrowings increased.
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Report for the Third Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
II. Progress and influence of significant events, as well as the analysis and explanation on
solutions
The Company’s plan for a private offering of A-shares for 2013 was officially accepted on 23 Aug. 2013 by CSRC for review.
Currently, the project is being reviewed and approved.
Index to the relevant announcement
Overview of the significant event Date of disclosure
disclosed on the website
The issues concerning the private offing of A-shares were
reviewed and approved at the 2nd Session of the 7th Board 25 Jul. 2013 http://www.cninfo.com.cn/
of Directors.（2013-042）
The issues concerning the private offing of A-shares and
the relevant asset assessment report were approved by 3 Aug. 2013 http://www.cninfo.com.cn/
SASAC.（2013-047）
The supplementary agreement and the transfer agreement
about the private offing of A-shares were signed. 10 Aug. 2013 http://www.cninfo.com.cn/
（2013-049）
The issues concerning the private offing of A-shares were
reviewed and approved at the 3rd Special Shareholders’ 13 Aug. 2013 http://www.cninfo.com.cn/
General Meeting for 2013.（2013-050）
The Voting Right Exercise Agreement and the Stock
Management Agreement about the private offing of 20 Aug. 2013 http://www.cninfo.com.cn/
A-shares were signed. （2013-053）
III. 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
Commitment Time of making Period of
Commitment Contents Fulfillment
maker commitment commitment
Commitments made in a share reform -- -- -- -- --
Commitments made in an acquisition report or a
-- -- -- -- --
report on equity changes
Commitments made in asset reorganization -- -- -- -- --
The shares
Being subscribed in the
E-TOWN private offering of
Commitments made in the first public offering International the Company in
13 Dec. 2010 3 years In execution
or refinancing. Investment & 2010 are subject
Development to a trading
Co., Ltd. moratorium of 3
years.
Other commitments made to minority
-- -- -- -- --
shareholders
Executed in time or not? Yes
Detailed reason for failing to execute and the
Inapplicable
plan for the next step (If any)
IV. Predict the 2013 annual operating results
Warnings of possible loss or large-margin change of the accumulated net profit made during the period from the
beginning of the year to the end of the next reporting period compared with the same period of the last year
according to prediction, as well as explanations on the reasons
√Applicable □Inapplicable
Prediction: significant increase in the same direction
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Report for the Third Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
Type of the predicted data: Interval data
Jan.-Dec. 2013 Jan.-Dec. 2012 Increase/decrease (%)
Estimated accumulative net
180,000 -- 200,000 25,813 Increase 597% -- 675%
profit (RMB Ten thousand)
Basic EPS (RMB Yuan/share) 0.133 -- 0.148 0.019 Increase 597% -- 675%
1. The average price of panels in 2013 is expected to be steadier than 2012. In the second half of the
year, the prices of the large-sized panels may drop considerably while the prices of medium-and
small-sized panels will not change significantly;
2. The layout of the Company’s production lines will gradually improve, with a production capacity
Explanation about the much larger than the same period of last year and the continuous effects of scale operation. All
predictions production lines of the Company keep running at full capacity on good sales. The production
capacity of medium-and small-sized panels is further increased through further promoting the
adjustment of the product structure. What the Beijing 5G Line produces are all medium-and
small-sized panels. Mobile products have accounted for over 50% of the production of the Hefei 6G
Line. And the Beijing 8.5G Line has started the mass production of panels for tablet computers. The
further optimization of the product structure ensures the profitability of the Company in the weak
market and notably improves its ability to resist market fluctuations.
V. Securities investment
Shareholdings in other listed companies
√Applicable □Inapplicable
Percentage Closing book Gain/loss for Changes in the
of the value (RMB report period equity of the
Initial
Code of Name of Company’s Yuan) (RMB Yuan) owners in the Source of
investment cost Accounting title
securities securities equity (%) reporting stock
(RMB Yuan)
period (RMB
Yuan)
HK00903 TPV 134,658,158.00 1.04% 30,711,161.00 0.00 -10,574,028.00 Financial assets Subscribe
Technology available-for-sale
SH600658 Electronic 90,160,428.00 1.69% 92,205,039.00 2,170,108.00 16,889,528.00 Financial assets Stock-for-s
City available-for-sale tock
Total 224,818,586.00 -- 122,916,200.00 2,170,108.00 6,315,500.00 -- --
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Report for the Third Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
VI.Researches, visits and interviews received in the reporting period
Time of Way of Main discussion and materials
Place of reception Visitor type Visitor
reception reception provided by the Company
Fubon Investment Trust Companies, Main content discussed:
Telephone Yuanta Investment Trust Companies, 1.the operating situation, the future
2 Jul. 2013 Teleconference communic Institution Jih Sun Securities Investment Trust Companies, Unified Asset Management Investment development strategy of the
ation Trust Companies, Schroder Investment Trust Companies, Desheng Allianz Investment Company;
Trust Companies, Hontai Life Insurance (shares) Company, KGI Securities Co., Ltd. 2. Industry conditions and
development trend;
3. Situation of the several
Xiangcai Securities Co., Ltd. production lines of the Company;
The Company’s Field
17 Jul. 2013
meeting room
Institution , AJ Securities Co., Ltd., TX Investment Consulting Co., Ltd., Huatai Securities Co., Materials provided: Annual
research Ltd., Founder Securities Co., Ltd. report of the Company of 2011 and
2012, brochure and other public
information.
Guohai Franklin Fund Management Co., Ltd., Guotai Junan Assets Management
Corporation, New China Life Insurance Co., Ltd., Yingda Asset Management Co., Ltd.,
The Company’s Field
22 Aug. 2013 Institution GF Fund Management Co., Ltd., GTIA Allianz Fund Management Co., Ltd., Generale
meeting room research
Securities asset management company, Gfund Management Co., Ltd., Minsheng Life
Insurance Co., Ltd., Hua An Property Insurance Co., Ltd.
The Company’s Field
23 Aug. 2013 Institution Guotai Junan Securities Asset Management Corporation Main content discussed:
meeting room research
Yingda Asset Management Co., Ltd., Zhongzhi Enterprise Group Co., Ltd., Zhongshan 1.the operating situation, the future
Securities Co., Ltd., China Minsheng Bank, Shenzhen Mingda Capital Management Co., development strategy of the
Ltd., Everbright Yongming Asset Management Co., Ltd., Xinan Securities Co., Ltd., Company;
Orient Securities Co., Ltd., Cinda Securities Co., Ltd., Beijing Tulip Capital Co., Ltd., 2. Industry conditions and
The Company’s Field Haitong Securities Co., Ltd., China Life Insurance Co., Ltd., Zju Jiuzhi Investment development trend;
27 Aug. 2013 Institution
meeting room research Management Co., Ltd., Minsheng Securities Co., Ltd., All View Consulting, Bohai 3. Situation of the several
Securities Co., Ltd., Eastern Spring Equity Investment Fund Management Co., Ltd., production lines of the Company;
BOCI Securities Co., Ltd., Beijing Jingfu Rongyuan Investment Management Co., Ltd., Materials provided: Annual report
Yimin Asset Management Co., Ltd., CICC, China Post & Capital Fund Management Co., of the Company of 2011 and 2012,
Ltd., SWS Research Co., Ltd., Fortune Securities Co., Ltd., Guosen Securities CO., Ltd. semi-annual report of 2013,
The Company’s Field brochure and other public
27 Aug. 2013 Individual Zhang Dingqiang information.
meeting room research
The Company’s Field
17 Sep. 2013 Institution Hong Yuan Securities Co., Ltd.
meeting room research
Telephone Capital Investment Trust Corporation, Central Reinsurance Corporation, PineBridge
27 Sep. 2013 Teleconference communic Institution Investments, CTBC Bank, Nan Shan Life Insurance, Ontario Investment Trust
ation Corporation, Prudential Investment Trust Corporation, Cathay Securities.
9
Report for the Third Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
VII、 Subsequent Events
On 23 Oct. 2013, the subordinate subsidiary Hefei Xinsheng Optoelectronics Technology Co., Ltd.
(hereinafter referred to as “Hefei Xinsheng”) received the Notice of the Ministry of Finance and the
General Administration of Customs Concerning the Third Batch of New Flat Panel Display Devices
Enjoying the Policy of Tax Paying by Installments (CGS [2013] No. 63) (hereinafter referred to as
the “Notice”). According to the Notice, as approved by the State of Council, the unpaid import VAT
of RMB 3 billion on the production equipment imported by Hefei Xinsheng for the 8.5G TFT-LCD
project might be paid by installments from Mar. 2013 to Feb. 2019, i.e. to withhold the import VAT
from Mar. 2013 to Feb. 2014; and to paid an import VAT of at least RMB 0.15 billion to the local
customs office of the project in the last 15 days of every quarter from Mar. 2014 to Feb. 2019. This
policy will produce a positive effect on the cash flows of the Company.
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Report for the Third 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 23,365,935,107.00 15,211,851,133.00
Settlement reserves 0.00 0.00
Intra-group lendings 0.00 0.00
Transactional financial assets 0.00 0.00
Notes receivable 760,409,630.00 860,883,384.00
Accounts receivable 5,329,676,563.00 5,196,041,164.00
Accounts paid in advance 249,825,413.00 118,558,011.00
Premiums receivable 0.00 0.00
Reinsurance premiums receivable 0.00 0.00
Receivable reinsurance contract 0.00 0.00
reserves
Interest receivable 96,346,279.00 30,850,933.00
Dividend receivable 0.00 0.00
Other accounts receivable 824,029,886.00 459,082,392.00
Financial assets purchased under 0.00 0.00
agreements to resell
Inventories 2,805,826,602.00 2,668,906,527.00
Non-current assets due within 1 year 0.00 0.00
Other current assets 1,153,245,359.00 1,284,972,353.00
Total current assets 34,585,294,839.00 25,831,145,897.00
Non-current assets:
Loans by mandate and advances 0.00 0.00
granted
Available-for-sale financial assets 122,916,200.00 116,600,700.00
Held-to-maturity investments 0.00 0.00
Long-term accounts receivable 0.00 0.00
Long-term equity investment 992,116,907.00 971,409,821.00
Investing property 1,271,685,267.00 1,309,561,041.00
Fixed assets 32,434,471,833.00 34,534,107,374.00
Construction in progress 18,087,835,581.00 2,294,256,409.00
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 1,678,201,309.00 1,497,109,054.00
R&D expense 0.00 0.00
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Report for the Third Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
Goodwill 51,502,898.00 51,502,898.00
Long-term deferred expenses 221,158,073.00 222,578,163.00
Deferred income tax assets 48,397,086.00 47,700,956.00
Other non-current assets 1,121,001,901.00 229,388,552.00
Total of non-current assets 56,029,287,055.00 41,274,214,968.00
Total assets 90,614,581,894.00 67,105,360,865.00
Current liabilities:
Short-term borrowings 12,402,326,012.00 727,267,475.00
Borrowings from Central Bank 0.00 0.00
Customer bank deposits and due to 0.00 0.00
banks and other financial institutions
Intra-group borrowings 0.00 0.00
Transactional financial liabilities 0.00 0.00
Notes payable 143,811,260.00 51,621,956.00
Accounts payable 5,194,895,733.00 5,452,578,519.00
Accounts received in advance 319,847,912.00 647,932,719.00
Financial assets sold for repurchase 0.00 0.00
Handling charges and commissions 0.00 0.00
payable
Employee’s compensation payable 594,853,504.00 539,910,148.00
Tax payable 102,814,571.00 48,857,070.00
Interest payable 185,265,015.00 98,478,461.00
Dividend payable 8,051,170.00 8,051,170.00
Other accounts payable 5,227,394,119.00 3,201,279,824.00
Reinsurance premiums payable 0.00 0.00
Insurance contract reserves 0.00 0.00
Payables for acting trading of 0.00 0.00
securities
Payables for acting underwriting of 0.00 0.00
securities
Non-current liabilities due within 1
1,094,699,785.00 1,544,020,648.00
year
Other current liabilities 261,167,794.00 94,629,652.00
Total current liabilities 25,535,126,875.00 12,414,627,642.00
Non-current liabilities:
Long-term borrowings 21,816,560,189.00 17,373,155,700.00
Bonds payable 0.00 0.00
Long-term payables 0.00 0.00
Specific payables 0.00 0.00
Estimated liabilities 16,457,009.00 16,536,805.00
Deferred income tax liabilities 383,764,976.00 388,933,221.00
Other non-current liabilities 1,811,240,166.00 1,647,293,045.00
Total non-current liabilities 24,028,022,340.00 19,425,918,771.00
Total liabilities 49,563,149,215.00 31,840,546,413.00
Owners’ equity (or shareholders’
equity)
Paid-up capital (or share capital) 13,521,542,341.00 13,521,542,341.00
Capital reserves 15,351,113,725.00 15,344,798,225.00
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Report for the Third Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
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 -2,117,058,771.00 -3,476,172,602.00
Foreign exchange difference -4,621,478.00 -2,300,927.00
Total equity attributable to owners of
27,250,068,430.00 25,886,959,650.00
the Company
Minority interests 13,801,364,249.00 9,377,854,802.00
Total owners’ (or shareholders’) equity 41,051,432,679.00 35,264,814,452.00
Total liabilities and owners’ (or
90,614,581,894.00 67,105,360,865.00
shareholders’) equity
Legal representative: Wang Dongsheng Person-in-charge of the accounting work: Sun Yun
Chief of the accounting division: 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 1,303,891,726.00 2,270,122,495.00
Transactional financial assets 0.00 0.00
Notes receivable 0.00 8,029,371.00
Accounts receivable 66,601,261.00 65,227,239.00
Accounts paid in advance 2,268,955.00 7,427,483.00
Interest receivable 16,005,161.00 11,141,532.00
Dividend receivable 8,204,147.00 10,404,147.00
Other accounts receivable 363,299,428.00 315,211,684.00
Inventories 7,472,982.00 8,644,936.00
Non-current assets due within 1 year 0.00 0.00
Other current assets 105,278,126.00 48,503,107.00
Total current assets 1,873,021,786.00 2,744,711,994.00
Non-current assets:
Available-for-sale financial assets 122,916,200.00 116,600,700.00
Held-to-maturity investments 0.00 0.00
Long-term accounts receivable 0.00 0.00
Long-term equity investment 36,076,630,360.00 29,075,216,625.00
Investing property 163,584,233.00 167,026,713.00
Fixed assets 379,403,990.00 393,735,701.00
Construction in progress 241,119,724.00 155,430,341.00
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 117,754,584.00 119,518,806.00
13
Report for the Third Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
R&D expense 0.00 0.00
Goodwill 0.00 0.00
Long-term deferred expenses 3,112,253.00 2,451,575.00
Deferred income tax assets 0.00 0.00
Other non-current assets 87,785.00 600,502.00
Total of non-current assets 37,104,609,129.00 30,030,580,963.00
Total assets 38,977,630,915.00 32,775,292,957.00
Current liabilities:
Short-term borrowings 6,000,000,000.00 0.00
Transactional financial liabilities 0.00 0.00
Notes payable 0.00 0.00
Accounts payable 8,539,156.00 37,592,580.00
Accounts received in advance 8,120,024.00 11,020,738.00
Employee’s compensation payable 59,944,125.00 84,881,764.00
Tax payable 13,333,003.00 14,285,183.00
Interest payable 121,283,333.00 0.00
Dividend payable 6,451,170.00 6,451,170.00
Other accounts payable 4,367,397,988.00 3,914,820,896.00
Non-current liabilities due within 1
50,000,000.00 50,000,000.00
year
Other current liabilities 0.00 0.00
Total current liabilities 10,635,068,799.00 4,119,052,331.00
Non-current liabilities:
Long-term borrowings 0.00 50,000,000.00
Bonds payable 0.00 0.00
Long-term payables 0.00 0.00
Specific payables 0.00 0.00
Estimated liabilities 0.00 0.00
Deferred income tax liabilities 0.00 0.00
Other non-current liabilities 76,627,404.00 85,335,021.00
Total non-current liabilities 76,627,404.00 135,335,021.00
Total liabilities 10,711,696,203.00 4,254,387,352.00
Owners’ equity (or shareholders’
equity)
Paid-up capital (or share capital) 13,521,542,341.00 13,521,542,341.00
Capital reserves 15,142,790,814.00 15,136,475,314.00
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 -897,491,056.00 -636,204,663.00
Foreign exchange difference 0.00 0.00
Total owners’ (or shareholders’) equity 28,265,934,712.00 28,520,905,605.00
Total liabilities and owners’ (or
38,977,630,915.00 32,775,292,957.00
shareholders’) equity
Legal representative: Wang Dongsheng Person-in-charge of the accounting work: Sun Yun
14
Report for the Third Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
Chief of the accounting division: Yang Xiaoping
3. Consolidated income statement for the reporting period
Prepared by BOE TECHNOLOGY GROUP CO., LTD.
Unit: RMB Yuan
Item Jul.-Sept. 2013 Jul.-Sept. 2012
I. Total operating revenues 8,519,445,647.00 7,514,025,988.00
Including: Sales income 8,519,445,647.00 7,514,025,988.00
Interest income 0.00 0.00
Premium income 0.00 0.00
Handling charge and
0.00 0.00
commission income
II. Total operating cost 7,897,893,045.00 7,597,662,397.00
Including: Cost of sales 6,314,847,161.00 6,756,083,331.00
Interest expenses 0.00 0.00
Handling charge and
0.00 0.00
commission expenses
Surrenders 0.00 0.00
Net claims paid 0.00 0.00
Net amount withdrawn for the
0.00 0.00
insurance contract reserve
Expenditure on policy dividends 0.00 0.00
Reinsurance premium 0.00 0.00
Taxes and associate charges 27,933,909.00 8,536,772.00
Selling and distribution expenses 313,173,805.00 166,716,825.00
Administrative expenses 790,339,794.00 559,398,046.00
Financial expenses 207,026,050.00 175,852,044.00
Asset impairment loss 244,572,326.00 -68,924,621.00
Add: Gain/(loss) from change in fair
0.00 0.00
value (“-” means loss)
Gain/(loss) from investment (“-”
401,091.00 -5,571,477.00
means loss)
Including: share of profits in associates
401,091.00 -5,226,692.00
and joint ventures
Foreign exchange gains (“-” means
0.00 0.00
loss)
III. Business profit (“-” means loss) 621,953,693.00 -89,207,886.00
Add: non-operating income 99,819,133.00 253,665,126.00
Less: non-operating expense 24,077,434.00 11,440,469.00
Including: loss from non-current asset
23,518,843.00 10,340,704.00
disposal
IV. Total profit (“-” means loss) 697,695,392.00 153,016,771.00
Less: Income tax expense 50,430,764.00 -976,873.00
V. Net profit (“-” means loss) 647,264,628.00 153,993,644.00
Including: Net profit achieved by
combined parties before the 0.00 0.00
combinations
Attributable to owners of the
499,824,938.00 151,609,285.00
Company
Minority shareholders’ income 147,439,690.00 2,384,359.00
15
Report for the Third Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
VI. Earnings per share -- --
(I) Basic earnings per share 0.037 0.011
(II) Diluted earnings per share 0.037 0.011
Ⅶ. Other comprehensive incomes -5,525,323.00 -3,951,591.00
Ⅷ. Total comprehensive incomes 641,739,305.00 150,042,053.00
Attributable to owners of the
494,299,615.00 147,657,694.00
Company
Attributable to minority
147,439,690.00 2,384,359.00
shareholders
Legal representative: Wang Dongsheng Person-in-charge of the accounting work: Sun Yun
Chief of the accounting division: Yang Xiaoping
4. Income statement of the Company for the reporting period
Prepared by BOE TECHNOLOGY GROUP CO., LTD.
Unit: RMB Yuan
Item Jul.-Sept. 2013 Jul.-Sept. 2012
I. Total sales 108,669,519.00 104,721,478.00
Less: cost of sales 32,914,963.00 24,103,875.00
Business taxes and surcharges 2,765,620.00 3,140,981.00
Distribution expenses 291,639.00 2,561,175.00
Administrative expenses 154,762,594.00 104,623,824.00
Financial costs 79,400,354.00 -22,257,227.00
Impairment loss 0.00 27,080.00
Add: gain/(loss) from change in fair
0.00 0.00
value (“-” means loss)
Gain/(loss) from investment (“-” means
401,091.00 564,817.00
loss)
Including: income form investment on
401,091.00 -4,268,081.00
associates and joint ventures
II. Business profit (“-” means loss) -161,064,560.00 -6,913,413.00
Add: non-business income 5,849,108.00 11,082,647.00
Less: non-business expense 7,754.00 0.00
Including: loss from non-current asset
7,754.00 0.00
disposal
III. Total profit (“-” means loss) -155,223,206.00 4,169,234.00
Less: income tax expense 0.00 0.00
IV. Net profit (“-” means loss) -155,223,206.00 4,169,234.00
V. Earnings per share -- --
(I) Basic earnings per share -0.0115 0.0003
(II) Diluted earnings per share -0.0115 0.0003
VI. Other comprehensive income -3,636,270.00 -4,431,203.00
VII. Total comprehensive income -158,859,476.00 -261,969.00
Legal representative: Wang Dongsheng Person-in-charge of the accounting work: Sun Yun
Chief of the accounting division: Yang Xiaoping
16
Report for the Third Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
5. Consolidated income statement for Jan.-Sept. 2013
Prepared by BOE TECHNOLOGY GROUP CO., LTD.
Unit: RMB Yuan
Item Jan.-Sept. 2013 Jan.-Sept. 2012
I. Total operating revenues 24,773,771,714.00 17,122,908,001.00
Including: Sales income 24,773,771,714.00 17,122,908,001.00
Interest income 0.00 0.00
Premium income 0.00 0.00
Handling charge and
0.00 0.00
commission income
II. Total operating cost 23,104,417,159.00 18,429,230,830.00
Including: Cost of sales 18,776,181,716.00 16,258,480,034.00
Interest expenses 0.00 0.00
Handling charge and
0.00 0.00
commission expenses
Surrenders 0.00 0.00
Net claims paid 0.00 0.00
Net amount withdrawn for the
0.00 0.00
insurance contract reserve
Expenditure on policy dividends 0.00 0.00
Reinsurance premium 0.00 0.00
Taxes and associate charges 93,873,199.00 23,800,903.00
Selling and distribution expenses 829,423,848.00 421,173,934.00
Administrative expenses 2,240,233,597.00 1,509,435,881.00
Financial expenses 400,438,707.00 297,153,768.00
Asset impairment loss 764,266,092.00 -80,813,690.00
Add: Gain/(loss) from change in fair
0.00 0.00
value (“-” means loss)
Gain/(loss) from investment (“-”
2,026,080.00 -9,324,246.00
means loss)
Including: share of profits in associates
-144,028.00 -10,993,560.00
and joint ventures
Foreign exchange gains (“-” means
0.00 0.00
loss)
III. Business profit (“-” means loss) 1,671,380,635.00 -1,315,647,075.00
Add: non-operating income 305,814,323.00 413,757,481.00
Less: non-operating expense 90,927,961.00 13,946,806.00
Including: loss from non-current asset
87,611,292.00 11,939,673.00
disposal
IV. Total profit (“-” means loss) 1,886,266,997.00 -915,836,400.00
Less: Income tax expense 73,721,600.00 7,276,636.00
V. Net profit (“-” means loss) 1,812,545,397.00 -923,113,036.00
Including: Net profit achieved by
combined parties before the 0.00 0.00
combinations
Attributable to owners of the
1,359,113,831.00 -635,272,911.00
Company
Minority shareholders’ income 453,431,566.00 -287,840,125.00
VI. Earnings per share -- --
17
Report for the Third Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
(I) Basic earnings per share 0.101 -0.047
(II) Diluted earnings per share 0.101 -0.047
Ⅶ. Other comprehensive incomes 3,994,949.00 10,122,601.00
Ⅷ. Total comprehensive incomes 1,816,540,346.00 -912,990,435.00
Attributable to owners of the
1,363,108,780.00 -625,150,310.00
Company
Attributable to minority
453,431,566.00 -287,840,125.00
shareholders
Legal representative: Wang Dongsheng Person-in-charge of the accounting work: Sun Yun
Chief of the accounting division: Yang Xiaoping
6. Income statement of the Company for Jan.-Sept. 2013
Prepared by BOE TECHNOLOGY GROUP CO., LTD.
Unit: RMB Yuan
Item Jan.-Sept. 2013 Jan.-Sept. 2012
I. Total sales 330,799,840.00 275,427,518.00
Less: cost of sales 89,520,454.00 75,650,612.00
Business taxes and surcharges 7,766,019.00 7,207,006.00
Distribution expenses 1,774,739.00 6,767,855.00
Administrative expenses 434,954,958.00 271,208,196.00
Financial costs 78,847,440.00 -69,905,055.00
Impairment loss -34,499.00 322,910.00
Add: gain/(loss) from change in fair
0.00 0.00
value (“-” means loss)
Gain/(loss) from investment (“-” means
2,026,080.00 -956,576.00
loss)
Including: income form investment on
-144,028.00 -10,003,573.00
associates and joint ventures
II. Business profit (“-” means loss) -280,003,191.00 -16,780,582.00
Add: non-business income 18,737,532.00 21,136,322.00
Less: non-business expense 20,734.00 576,716.00
Including: loss from non-current asset
17,934.00 576,716.00
disposal
III. Total profit (“-” means loss) -261,286,393.00 3,779,024.00
Less: income tax expense 0.00 0.00
IV. Net profit (“-” means loss) -261,286,393.00 3,779,024.00
V. Earnings per share -- --
(I) Basic earnings per share -0.0193 0.0003
(II) Diluted earnings per share -0.0193 0.0003
VI. Other comprehensive income 6,315,500.00 8,576,227.00
VII. Total comprehensive income -254,970,893.00 12,355,251.00
Legal representative: Wang Dongsheng Person-in-charge of the accounting work: Sun Yun
Chief of the accounting division: Yang Xiaoping
18
Report for the Third Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
7. Consolidated cash flow statement for Jan.-Sept. 2013
Prepared by BOE TECHNOLOGY GROUP CO., LTD.
Unit: RMB Yuan
Item Jan.-Sept. 2013 Jan.-Sept. 2012
I. Cash flows from operating activities:
Cash received from sale of
24,110,584,754.00 14,319,558,754.00
commodities and rendering of service
Net increase of deposits from 0.00 0.00
customers and dues from banks
Net increase of loans from the central 0.00 0.00
bank
Net increase of funds borrowed from 0.00 0.00
other financial institutions
Cash received from premium of 0.00 0.00
original insurance contracts
Net cash received from reinsurance 0.00 0.00
business
Net increase of deposits of policy 0.00 0.00
holders and investment fund
Net increase of disposal of tradable 0.00 0.00
financial assets
Cash received from interest, handling 0.00 0.00
charges and commissions
Net increase of intra-group 0.00 0.00
borrowings
Net increase of funds in repurchase 0.00 0.00
business
Tax refunds received 542,257,891.00 328,064,879.00
Other cash received relating to
573,065,143.00 1,199,931,838.00
operating activities
Subtotal of cash inflows from operating
25,225,907,788.00 15,847,555,471.00
activities
Cash paid for goods and services 16,516,878,041.00 12,842,348,981.00
Net increase of customer lendings 0.00 0.00
and advances
Net increase of funds deposited in the 0.00 0.00
central bank and amount due from
banks
Cash for paying claims of the original 0.00 0.00
insurance contracts
Cash for paying interest, handling 0.00 0.00
charges and commissions
Cash for paying policy dividends 0.00 0.00
Cash paid to and for employees 2,018,007,461.00 1,489,779,233.00
Various taxes paid 1,103,573,320.00 157,740,382.00
Other cash payment relating to
1,257,464,920.00 954,815,169.00
operating activities
Subtotal of cash outflows from
20,895,923,742.00 15,444,683,765.00
operating activities
Net cash flows from operating activities 4,329,984,046.00 402,871,706.00
II. Cash flows from investing activities:
Cash received from withdrawal of 0.00 7,170,027.00
19
Report for the Third Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
investments
Cash received from return on
2,170,108.00 6,846,996.00
investments
Net cash received from disposal of
fixed assets, intangible assets and other 730,348.00 3,119,574.00
long-term assets
Net cash received from disposal of 0.00 0.00
subsidiaries or other business units
Other cash received relating to
1,651,185,101.00 240,821,768.00
investing activities
Subtotal of cash inflows from
1,654,085,557.00 257,958,365.00
investing activities
Cash paid to acquire fixed assets,
intangible assets and other long-term 12,456,769,266.00 2,724,901,135.00
assets
Cash paid for investment 13,633,862.00 20,000,000.00
Net increase of pledged loans 0.00 0.00
Net cash paid to acquire subsidiaries 0.00 0.00
and other business units
Other cash payments relating to
4,644,780,677.00 7,370,726.00
investing activities
Subtotal of cash outflows from
17,115,183,805.00 2,752,271,861.00
investing activities
Net cash flows from investing activities -15,461,098,248.00 -2,494,313,496.00
III. Cash Flows from Financing
Activities:
Cash received from capital
15,042,000.00 0.00
contributions
Including: Cash received from 0.00 0.00
minority shareholder investments by
subsidiaries
Cash received from borrowings 19,019,933,498.00 8,413,066,483.00
Cash received from issuance of 0.00 0.00
bonds
Other cash received relating to
38,130,534.00 2,068,554,764.00
financing activities
Subtotal of cash inflows from financing
19,073,106,032.00 10,481,621,247.00
activities
Repayment of borrowings 3,377,364,032.00 9,979,481,877.00
Cash paid for interest expenses and
804,396,735.00 841,012,593.00
distribution of dividends or profit
Including: dividends or profit paid 0.00 0.00
by subsidiaries to minority shareholders
Other cash payments relating to
573,778,664.00 18,451,189.00
financing activities
Sub-total of cash outflows from
4,755,539,431.00 10,838,945,659.00
financing activities
Net cash flows from financing activities 14,317,566,601.00 -357,324,412.00
IV. Effect of foreign exchange rate
-74,552,107.00 19,575,668.00
changes on cash and cash equivalents
V. Net increase in cash and cash
3,111,900,292.00 -2,429,190,534.00
equivalents
Add: Opening balance of cash and
13,556,486,692.00 12,959,533,670.00
cash equivalents
20
Report for the Third Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
VI. Closing balance of cash and cash
16,668,386,984.00 10,530,343,136.00
equivalents
Legal representative: Wang Dongsheng Person-in-charge of the accounting work: Sun Yun
Chief of the accounting division: Yang Xiaoping
8. Cash flow statement of the Company for Jan.-Sept. 2013
Prepared by BOE TECHNOLOGY GROUP CO., LTD.
Unit: RMB Yuan
Item Jan.-Sept. 2013 Jan.-Sept. 2012
I. Cash flows from operating activities:
Cash received from sale of
110,146,853.00 88,744,648.00
commodities and rendering of service
Tax refunds received 759,601,734.00 0.00
Other cash received relating to
586,164,039.00 1,144,681,428.00
operating activities
Subtotal of cash inflows from operating
1,455,912,626.00 1,233,426,076.00
activities
Cash paid for goods and services 135,227,602.00 38,240,584.00
Cash paid to and for employees 222,781,561.00 187,791,948.00
Various taxes paid 16,853,855.00 11,707,569.00
Other cash payment relating to
579,115,628.00 816,385,712.00
operating activities
Subtotal of cash outflows from
953,978,646.00 1,054,125,813.00
operating activities
Net cash flows from operating activities 501,933,980.00 179,300,263.00
II. Cash flows from investing activities:
Cash received from retraction of 0.00
7,170,027.00
investments
Cash received from return on
4,370,108.00 6,846,996.00
investments
Net cash received from disposal of
fixed assets, intangible assets and other 122,900.00 675,684.00
long-term assets
Net cash received from disposal of 0.00 0.00
subsidiaries or other business units
Other cash received relating to
30,613,152.00 58,560,738.00
investing activities
Subtotal of cash inflows from
35,106,160.00 73,253,445.00
investing activities
Cash paid to acquire fixed assets,
intangible assets and other long-term 201,086,471.00 104,430,555.00
assets
Cash paid for investment 2,889,340,512.00 20,000,000.00
Net cash paid to acquire subsidiaries 0.00
4,100,000,000.00
and other business units
Other cash payments relating to 0.00
1,861,335.00
investing activities
Subtotal of cash outflows from
7,192,288,318.00 124,430,555.00
investing activities
Net cash flows from investing activities -7,157,182,158.00 -51,177,110.00
21
Report for the Third Quarter of 2013 of BOE TECHNOLOGY GROUP CO., LTD.
III. Cash Flows from Financing
Activities:
Cash received from capital 0.00 0.00
contributions
Cash received from borrowings 6,000,000,000.00 0.00
Cash received from issuance of 0.00 0.00
bonds
Other cash received relating to 0.00
41,642,000.00
financing activities
Subtotal of cash inflows from financing
6,000,000,000.00 41,642,000.00
activities
Repayment of borrowings 50,000,000.00 134,021,667.00
Cash paid for interest expenses and 0.00
1,315,665.00
distribution of dividends or profit
Other cash payments relating to 0.00
500,000,000.00
financing activities
Sub-total of cash outflows from
50,000,000.00 635,337,332.00
financing activities
Net cash flows from financing activities 5,950,000,000.00 -593,695,332.00
IV. Effect of foreign exchange rate
-137,387.00 -2,356.00
changes on cash and cash equivalents
V. Net increase in cash and cash
-705,385,565.00 -465,574,535.00
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
1,558,934,039.00 2,486,292,998.00
equivalents
Legal representative: Wang Dongsheng Person-in-charge of the accounting work: Sun Yun
Chief of the accounting division: Yang Xiaoping
22
Report for the Third 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:
23