Abstract of the Report for the First Quarter of 2014 of BOE TECHNOLOGY GROUP CO., LTD.
Stock code: 200725 Stock abbreviation: BOE B Announcement No.: 2014-020
BOE TECHNOLOGY GROUP CO., LTD.
Abstract of the Report for the First Quarter of 2014
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 2014 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 Jan.- Mar. 2014 Jan.- Mar. 2013 +/- (%)
Operating revenues (RMB Yuan) 8,091,679,315.00 8,058,663,697.00 0.41%
Net profit attributable to shareholders of
587,651,989.00 286,903,021.00 104.83%
the Company (RMB Yuan)
Net profit attributable to shareholders of
the Company after extraordinary gains and 242,830,402.00 226,213,962.00 7.35%
losses (RMB Yuan)
Net cash flows from operating activities
1,680,084,933.00 1,460,591,533.00 15.03%
(RMB Yuan)
Basic EPS (RMB Yuan/share) 0.043 0.021 104.76%
Diluted EPS (RMB Yuan/share) 0.043 0.021 104.76%
Weighted average ROE (%) 1.15% 1.1% 0.05%
Item 31 Mar. 2014 31 Mar. 2013 +/- (%)
Total assets (RMB Yuan) 126,419,929,502 92,538,451,492.00 36.61%
Net assets attributable to shareholders of
73,853,872,881 28,251,815,361.00 161.41%
the Company (RMB Yuan)
Items and amounts of extraordinary gains and losses
√ Applicable □ Inapplicable
Unit: RMB Yuan
Amount as of Jan.-Mar.
Item Note
2014
Gains/losses on the disposal of non-current assets (including the offset part of asset
-1,287,435.00 N/A
impairment provisions)
Tax rebates, reductions or exemptions due to approval beyond authority or the lack
0.00 N/A
of official approval documents
Government grants recognized in the current period, except for those acquired in
the ordinary course of business or granted at certain quotas or amounts according to 406,694,091.00 N/A
the country’s unified standards
Capital occupation charges on non-financial enterprises that recorded into current
0.00 N/A
gains and losses
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Abstract of the Report for the First Quarter of 2014 of BOE TECHNOLOGY GROUP CO., LTD.
Gains due to that the investment costs for the Company to obtain subsidiaries,
associates and joint ventures are lower than the enjoyable fair value of the 0.00 N/A
identifiable net assets of the investees when making the investments
Gain/loss on non-monetary asset swap 0.00 N/A
Gain/loss on entrusting others with investments or asset management 0.00 N/A
Asset impairment provisions due to acts of God such as natural disasters 0.00 N/A
Gain/loss on debt restructuring 0.00 N/A
Expenses for business reorganization, such as expenses for staffing, reorganization
0.00 N/A
etc.
Gain/loss on the part over the fair value due to transactions with distinctly unfair
0.00 N/A
prices
Current gains and losses of subsidies acquired from business combination under the
0.00 N/A
same control as from period-begin to combination date
Gain/loss on contingent events irrelevant to the Company’s normal business 0.00 N/A
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
0.00 N/A
financial assets and tradable financial liabilities and financial assets available for
sales except for effective hedging related with normal businesses of the Company
Reversal of provision for impairment that made impairment test independently 0.00 N/A
Gain/loss on loans obtained by entrusting others 0.00 N/A
Gain/loss on change of the fair value of investing real estate of which the
0.00 N/A
subsequent measurement is carried out adopting the fair value method
Effect on current gains/losses when a one-off adjustment is made to current
gains/losses according to requirements of taxation, accounting and other relevant 0.00 N/A
laws and regulations
Custody fee income when entrusted with operation 0.00 N/A
Other non-operation income and expenses other than the above 0.00 N/A
Other gain/loss items that meet the definition of an extraordinary gain/loss 18,802,234.00 N/A
Less: Income tax effects 59,235,746.00 N/A
Minority interests effects (after tax) 20,151,557.00 N/A
Total 344,821,587.00 --
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
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Abstract of the Report for the First Quarter of 2014 of BOE TECHNOLOGY GROUP CO., LTD.
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
394,288 shareholders, including 357,708 A-share holders and B-share holders
period-end
Shares held by the top ten shareholders
Shareholdi Pledged or frozen shares
Number of the
Nature of ng Number of the
Name of shareholder restricted shares Status of Number of
shareholder percentage shares held
held shares shares
(%)
Being E-TOWN International State-owned
10.98% 1,484,159,406 0 Pledged 635,000,000
Investment & Development Co., Ltd. Corporation
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
Hefei Rongke Project Investment Co., State-owned
4.99% 675,026,803 675,026,803
Ltd. Corporation
Beijing BDA Technological Investment
Other 4.44% 600,000,000 0 Pledged 300,000,000
Development Co., Ltd.
On behalf of
Beijing Electronics Holdings Co., Ltd. 2.04% 275,303,883 0 Frozen 2,000,000
the country
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.
CMBC—Yinhua Shenzheng 100 Index
Other 0.65% 88,114,061 0
Securities Investment Fund
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
1,484,159,406 1,484,159,406
Investment & Development Co., Ltd. shares
Beijing BOE Investment & RMB ordinary
860,981,080 860,981,080
Development Co., Ltd. shares
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Abstract of the Report for the First Quarter of 2014 of BOE TECHNOLOGY GROUP CO., LTD.
Beijing Economic-Technological RMB ordinary
847,650,000 847,650,000
Investment & Development Corp. shares
Beijing BDA Technological Investment RMB ordinary
600,000,000 600,000,000
Development Co., Ltd. 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
CMBC—Yinhua Shenzheng 100 Index RMB ordinary
88,114,061 88,114,061
Securities Investment Fund shares
ICBC—Rongtong Shenzheng 100 Index RMB ordinary
67,034,651 67,034,651
Securities Investment Fund 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.
Top 10 shareholders taking part in
margin financing and securities lending Naught
(if any)
Did any shareholder of the Company carry out an agreed buy-back in the reporting period?
□ Yes √ No
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Abstract of the Report for the First Quarter of 2014 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. Monetary funds increased 147% from the opening amount mainly because of the private stock placement in the reporting period.
2. Other non-current assets decreased 45% from the opening amount mainly because the prepayments for engineering equipment
decreased.
3. Short-term borrowings decreased 86% from the opening amount mainly because some borrowings were repaid.
4. Non-current liabilities due within 1 year increased 47% from the opening amount mainly because of the transfer from long-term
borrowings.
5. Capital reserve increased 292% from the opening amount mainly because of the private stock placement in the reporting period.
6. Minority interests decreased 87% from the opening amount mainly because minority shareholders' equity subscribed shares of
listed company in the reporting period.
7. Financial expenses increased 33% from the same period of last year mainly because the net exchange gain and the interest
expenses decreased.
8. Asset impairment loss decreased 72% from the same period of last year mainly because the inventory falling-price provisions were
offset at the principle of the lower between the cost and the net realizable value in the display device business segment.
9. Investment gain increased 143% from the same period of last year mainly because the operating performances of associates
improved.
10. Non-operating income increased 412% from the same period of last year mainly because the governmental subsidies increased.
11. Income tax expenses increased 1314% from the same period of last year mainly because the main business profit increased.
12. Net cash outflows from investing activities increased 193% from the same period of last year mainly because the construction of
new projects caused more spending on engineering and equipment procurement.
13. Net cash inflows from financing activities increased 3317% from the same period of last year mainly because of the additional
issue in the reporting period.
II. Progress of significant events and analysis & explanations on their influence and solutions
Upon approval by the Document ZJXK [2013] No. 1615 issued by China Securities Regulatory Commission, the Company carried
out a private placement of 21,768,095,233 Renminbi ordinary shares to certain investors at the par value of RMB 1/share. This
private placement raised RMB 45,712,999,989, with RMB 8,532,999,999 acquired by tangible assets as consideration, and the
remaining RMB 37,179,999,990 (including RMB 6,000,000,000 of debt held by Hefei Jianxiang investment Co., Ltd. regarding this
private placement as consideration) by cash. Deducting issuing charges RMB 828,294,936, the net capital raised amounted to RMB
44,884,705,053. This sum of capital was acquired by the Company on 25 March 2014. KPMG Huazhen (Special General Partnership)
thereby verified this private placement on 26 March 2014, and issued capital verification report (KPMG Huazhen yanzi
NO.1400530). This private placement was finalized on 4 April 2014. The Company issued “Report on Private Offering of A Shares
and Announcement of Listing” on 4 April 2014, and the new issues of shares went public on 8 April 2014.Upon approval by the
Document ZJXK [2013] No. 1615 issued by China Securities Regulatory Commission, the Company carried out a private placement
of 21,768,095,233 Renminbi ordinary shares to certain investors at the par value of RMB 1/share.
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Abstract of the Report for the First Quarter of 2014 of BOE TECHNOLOGY GROUP CO., LTD.
For details, see the “Report on the Results of the Private Placement & Announcement on Listing”.
Website index to the disclosed
Overview of the significant event Date of disclosure
relevant interim report
Transfer of the assets of Beijing BOE Display Technology Co., Ltd. in
the private placement of BOE Technology Group Co., Ltd. (see 21 Mar. 2014 http://www.cninfo.com.cn
Announcement No. 2014-008)
Government subsidies received by the controlled subsidiaries of BOE
19 Mar. 2014 http://www.cninfo.com.cn
Technology Group Co., Ltd. (see Announcement No. 2014-007
The relevant progress of government subsidies received by the controlled
subsidiaries of BOE Technology Group Co., Ltd. and (see Announcement 21 Mar. 2014 http://www.cninfo.com.cn
No. 2014-009)
III. Predict the operating results of Jan.-Jun. 2014
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
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Abstract of the Report for the First Quarter of 2014 of BOE TECHNOLOGY GROUP CO., LTD.
IV. Securities investment
Shareholdings in other listed companies
√Applicable □Inapplicable
Changes in the
Percentage of the Closing book Gain/loss for equity of the
Code of Name of Initial investment
Company’s value (RMB report period owners in the Accounting title Source of stock
securities securities cost (RMB Yuan)
equity (%) Yuan) (RMB Yuan) reporting period
(RMB Yuan)
TPV Technology Financial assets
HK00903 134,658,158 1.04% 24,729,686 0 -5,913,486 Subscribe
available-for-sale
Electronic City Financial assets
SH600658 90,160,428 1.69% 101,042,583 0 -14,238,264 Stock-for-stock
available-for-sale
Bank of Financial assets
HK01963 120,084,375 0.93% 97,572,806 0 -11,009,744 Subscribe
Chongqing available-for-sale
Total 344,902,961 -- 223,345,075 0 -31,161,493 -- --
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Abstract of the Report for the First Quarter of 2014 of BOE TECHNOLOGY GROUP CO., LTD.
V. Researches, visits and interviews received in the reporting period
Place of Way of Visitor Main discussion and materials provided
Time of reception Visitor
reception reception type by the Company
The
4 Jan. 2014 Company’s Field research Institution New China Fund Management Co., Ltd.
meeting room
Telephone
6 Jan. 2014 Teleconference Institution Allianz GL
communication
The
Main content discussed:
9 Jan. 2014 Company’s Field research Individual Individual investor
meeting room 1. The operating situation, the future
development strategy of the Company;
The Sinvo Capital Shareholding Co., Ltd., Anbang Asset Management Co., Ltd., Zhongfu
2. Industry conditions and development
22 Jan. 2014 Company’s Field research Institution Investment Group, Everbright Securities Co., Ltd., China Life Asset Management Co.,
trend;
meeting room Ltd., Bohai Securities Co., Ltd., Sinom Shareholding Co., Ltd.
3. Situation of the several production
The
lines of the Company;
11 Feb. 2014 Company’s Field research Institution CITIC-Prudential Life Insurance Co., Ltd., Bohai Securities Co., Ltd.
Materials provided:
meeting room
Annual report of the Company of 2012,
The
brochure and other public information.
14 Feb. 2014 Company’s Field research Individual Individual investor
meeting room
Telephone
26 Feb. 2014 Teleconference Institution Orient Asset Management Corporation
communication
The TF Securities Co., Ltd., Shanghai Luan Investment Co., Ltd., Zhonghai City
4 Mar. 2014 Field research Institution
Company’s Shareholding (Beijing) Co., Ltd.
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Abstract of the Report for the First Quarter of 2014 of BOE TECHNOLOGY GROUP CO., LTD.
meeting room
The
10 Mar. 2014 Company’s Field research Institution Owl Creek
meeting room
The
11 Mar. 2014 Company’s Field research Individual Individual investor
meeting room
The
13 Mar. 2014 Company’s Field research Institution Huatai Securities Co., Ltd.
meeting room
The
17 Mar. 2014 Company’s Field research Institution Alkeon Capital Management
meeting room
The
18 Mar. 2014 Company’s Field research Individual Individual investor
meeting room
The
China International Fund Management Co., Ltd., New China Fund Management Co.,
31 Mar. 2014 Company’s Field research Institution
Ltd., Industrial Securities Co., Ltd.
meeting room
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Abstract of the Report for the First Quarter of 2014 of BOE TECHNOLOGY GROUP CO., LTD.
Chairman of the Board (signature): Mr. Wang Dongsheng
Date of the Board of Directors approving submission of this report:
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