Report for the First Quarter of 2014
Apr. 2014
Report for the First Quarter of 2014 of BOE TECHNOLOGY GROUP CO., LTD.
SectionI.ImportantReminders
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 2014 of BOE TECHNOLOGY GROUP CO., LTD.
SectionII.FinancialHighlights&ChangeofShareholders
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 286,903,021.00
the Company (RMB Yuan) 587,651,989.00 104.83%
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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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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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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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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Report for the First Quarter of 2014 of BOE TECHNOLOGY GROUP CO., LTD.
SectionIII.SignificantEvents
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
pon 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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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
IV. Securities investment
Shareholdings in other listed companies
√Applicable □Inapplicable
Percentage Closing Gain/los Changes in
of the book value s for the equity
Company’ (RMB report of the
Initial
s equity Yuan) period owners in
Code of Name of investment Source of
(%) (RMB the Accounting title
securities securities cost (RMB stock
Yuan) reporting
Yuan)
period
(RMB
Yuan)
TPV Financial assets
134,658,15
HK00903 Technolog 1.04% 24,729,686 0 -5,913,486 available-for-sal Subscribe
8
y e
Electronic Financial assets
SH60065 101,042,58 -14,238,26 Stock-for-stoc
City 90,160,428 1.69% 0 available-for-sal
8 3 4 k
e
Financial assets
Bank of 120,084,37 -11,009,74
HK01963 0.93% 97,572,806 0 available-for-sal Subscribe
Chongqing 5 4
e
Total 344,902,96 -- 223,345,07 0 -31,161,49 -- --
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Report for the First Quarter of 2014 of BOE TECHNOLOGY GROUP CO., LTD.
1 5 3
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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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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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Report for the First Quarter of 2014 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 50,531,922,101.00 20,464,553,422.00
Settlement reserves 0 0.00
Intra-group lendings 0 0.00
Transactional financial assets 0 0.00
Notes receivable 530,085,147.00 565,423,076.00
Accounts receivable 4,557,280,210.00 4,855,938,522.00
Accounts paid in advance 169,765,539.00 141,404,773.00
Premiums receivable 0 0.00
Reinsurance premiums receivable 0 0.00
Receivable reinsurance contract
0 0.00
reserves
Interest receivable 78,249,771.00 109,045,546.00
Dividend receivable 0 0.00
Other accounts receivable 660,638,348.00 618,124,736.00
Financial assets purchased under
0 0.00
agreements to resell
Inventories 3,793,976,626.00 3,018,804,659.00
Non-current assets due within 1 year 0 0.00
Other current assets 2,315,123,012.00 1,872,804,826.00
Total current assets 62,637,040,754.00 31,646,099,560.00
Non-current assets:
Loans by mandate and advances
0 0.00
granted
Available-for-sale financial assets 223,345,075.00 254,506,569.00
Held-to-maturity investments 0 0.00
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Report for the First Quarter of 2014 of BOE TECHNOLOGY GROUP CO., LTD.
Long-term accounts receivable 0 0.00
Long-term equity investment 991,222,703.00 989,848,083.00
Investing property 1,271,968,659.00 1,284,415,937.00
Fixed assets 33,294,194,483.00 32,495,665,045.00
Construction in progress 24,897,642,788.00 22,172,949,652.00
Engineering materials 0 0.00
Disposal of fixed assets 0 0.00
Production biological assets 0 0.00
Oil-gas assets 0 0.00
Intangible assets 1,980,602,324.00 2,025,945,856.00
R&D expense 0 0.00
Goodwill 51,502,898.00 51,502,898.00
Long-term deferred expenses 253,668,661.00 242,814,121.00
Deferred income tax assets 155,143,278.00 160,480,672.00
Other non-current assets 663,597,879.00 1,214,223,099.00
Total of non-current assets 63,782,888,748.00 60,892,351,932.00
126,419,929,502.00
Total assets 92,538,451,492.00
Current liabilities:
Short-term borrowings 1,701,873,299.00 12,122,769,840.00
Borrowings from Central Bank 0 0.00
Customer bank deposits and due to
0 0.00
banks and other financial institutions
Intra-group borrowings 0 0.00
Transactional financial liabilities 0 0.00
Notes payable 166,503,600.00 135,654,664.00
Accounts payable 4,868,052,270.00 5,667,182,852.00
Accounts received in advance 336,458,563.00 281,618,909.00
Financial assets sold for repurchase 0 0.00
Handling charges and commissions
0 0.00
payable
Employee’s compensation payable 538,156,852.00 845,898,437.00
Tax payable 198,423,516.00 190,205,223.00
Interest payable 367,152,858.00 314,004,348.00
Dividend payable 8,051,170.00 8,051,170.00
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Report for the First Quarter of 2014 of BOE TECHNOLOGY GROUP CO., LTD.
Other accounts payable 7,469,587,639.00 6,062,245,439.00
Reinsurance premiums payable 0 0.00
Insurance contract reserves 0 0.00
Payables for acting trading of
0 0.00
securities
Payables for acting underwriting of
0 0.00
securities
Non-current liabilities due within 1
452,574,843.00 308,628,826.00
year
Other current liabilities 312,946,213.00 255,465,666.00
Total current liabilities 16,419,780,823.00 26,191,725,374.00
Non-current liabilities:
Long-term borrowings 27,586,775,863.00 20,995,628,956.00
Bonds payable 0 0.00
Long-term payables 0 0.00
Specific payables 0 0.00
Estimated liabilities 16,457,010.00 16,457,010.00
Deferred income tax liabilities 380,329,143.00 382,048,433.00
Other non-current liabilities 6,852,033,775.00 6,798,328,315.00
Total non-current liabilities 34,835,595,791.00 28,192,462,714.00
Total liabilities 51,255,376,614.00 54,384,188,088.00
Owners’ equity (or shareholders’
equity)
Paid-up capital (or share capital) 13,521,542,341.00 13,521,542,341.00
Capital reserves 60,422,067,315.00 15,407,622,455.00
Less: Treasury stock 0 0.00
Specific reserves 0 0.00
Surplus reserves 499,092,613.00 499,092,613.00
Provisions for general risks 0 0.00
Retained profits -535,154,919.00 -1,122,806,908.00
Foreign exchange difference -53,674,469.00 -53,635,140.00
Total equity attributable to owners of
73,853,872,881.00 28,251,815,361.00
the Company
Minority interests 1,310,680,007.00 9,902,448,043.00
Total owners’ (or shareholders’) equity 75,164,552,888.00 38,154,263,404.00
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Report for the First Quarter of 2014 of BOE TECHNOLOGY GROUP CO., LTD.
Total liabilities and owners’ (or
126,419,929,502.00 92,538,451,492.00
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 32,483,480,231.00 1,712,111,176.00
Transactional financial assets 0.00 0.00
Notes receivable 200,000.00 878,816.00
Accounts receivable 70,823,248.00 58,956,394.00
Accounts paid in advance 12,475,024.00 11,340,225.00
Interest receivable 3,742,408.00 8,270,202.00
Dividend receivable 8,204,147.00 8,204,147.00
Other accounts receivable 340,158,936.00 508,906,713.00
Inventories 3,875,197.00 3,620,138.00
Non-current assets due within 1 year 0.00 0.00
Other current assets 72,271,593.00 66,790,488.00
Total current assets 32,995,230,784.00 2,379,078,299.00
Non-current assets:
Available-for-sale financial assets 125,772,269.00 145,924,019.00
Held-to-maturity investments 0.00
Long-term accounts receivable 0.00 0.00
Long-term equity investment 44,732,254,957.00 36,197,880,338.00
Investing property 161,289,247.00 162,436,740.00
Fixed assets 366,324,557.00 374,290,680.00
Construction in progress 297,469,878.00 270,846,366.00
Engineering materials 0.00 0.00
Disposal of fixed assets 0.00 0.00
Production biological assets 0.00 0.00
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Report for the First Quarter of 2014 of BOE TECHNOLOGY GROUP CO., LTD.
Oil-gas assets 0.00 0.00
Intangible assets 473,549,803.00 488,384,056.00
R&D expense 0.00 0.00
Goodwill 0.00 0.00
Long-term deferred expenses 2,418,191.00 2,765,222.00
Deferred income tax assets 0.00 0.00
Other non-current assets 10,025,366.00 7,466,369.00
Total of non-current assets 46,169,104,268.00 37,649,993,790.00
Total assets 79,164,335,052.00 40,029,072,089.00
Current liabilities:
Short-term borrowings 0.00 6,000,000,000.00
Transactional financial liabilities 0.00 0.00
Notes payable 0.00 0.00
Accounts payable 40,626,526.00 29,441,014.00
Accounts received in advance 11,663,380.00 2,163,584.00
Employee’s compensation payable 60,839,769.00 132,366,527.00
Tax payable 36,999,707.00 11,962,775.00
Interest payable 296,283,333.00 213,283,333.00
Dividend payable 6,451,171.00 6,451,170.00
Other accounts payable 5,511,993,240.00 5,131,239,943.00
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 6,014,857,126.00 11,576,908,346.00
Non-current liabilities:
Long-term borrowings 0.00 0.00
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 71,806,466.00 75,118,764.00
Total non-current liabilities 71,806,466.00 75,118,764.00
Total liabilities 6,086,663,592.00 11,652,027,110.00
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Report for the First Quarter of 2014 of BOE TECHNOLOGY GROUP CO., LTD.
Owners’ equity (or shareholders’
equity)
Paid-up capital (or share capital) 13,521,542,341.00 13,521,542,341.00
Capital reserves 60,030,351,936.00 15,165,798,633.00
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 -973,315,430.00 -809,388,608.00
Foreign exchange difference 0.00 0.00
Total owners’ (or shareholders’) equity 73,077,671,460.00 28,377,044,979.00
Total liabilities and owners’ (or
79,164,335,052.00 40,029,072,089.00
shareholders’) equity
Legal representative: Wang Dongsheng Person-in-charge of the accounting work: Sun Yun
Chief of the accounting division: Yang Xiaoping
3. Consolidated income statement
Prepared by BOE TECHNOLOGY GROUP CO., LTD.
Unit: RMB Yuan
Item Jan.-Mar. 2014 Jan.-Mar. 2013
I. Total operating revenues 8,091,679,315.00 8,058,663,697.00
Including: Sales income 8,091,679,315.00 8,058,663,697.00
Interest income 0.00 0.00
Premium income 0.00 0.00
Handling charge and commission income 0.00 0.00
II. Total operating cost 7,763,093,362.00 7,737,412,570.00
Including: Cost of sales 6,483,118,788.00 6,359,705,018.00
Interest expenses 0.00 0.00
Handling charge and commission expenses 0.00 0.00
Surrenders 0.00 0.00
Net claims paid 0.00 0.00
Net amount withdrawn for the insurance contract
0.00 0.00
reserve
Expenditure on policy dividends 0.00 0.00
16
Report for the First Quarter of 2014 of BOE TECHNOLOGY GROUP CO., LTD.
Reinsurance premium 0.00 0.00
Taxes and associate charges 11,732,346.00 16,345,710.00
Selling and distribution expenses 236,028,598.00 276,288,031.00
Administrative expenses 774,557,649.00 683,539,722.00
Financial expenses 184,859,104.00 139,484,024.00
Asset impairment loss 72,796,877.00 262,050,065.00
Add: Gain/(loss) from change in fair value (“-” means loss) 0.00 0.00
Gain/(loss) from investment (“-” means loss) 1,374,620.00 565,295.00
Including: share of profits in associates and joint ventures 1,374,620.00 565,295.00
Foreign exchange gains (“-” means loss) 0.00 0.00
III. Business profit (“-” means loss) 329,960,573.00 321,816,422.00
Add: non-operating income 427,416,825.00 83,456,055.00
Less: non-operating expense 3,207,936.00 583,111.00
Including: loss from non-current asset disposal 1,888,224.00 564,668.00
IV. Total profit (“-” means loss) 754,169,462.00 404,689,366.00
Less: Income tax expense 64,483,087.00 4,560,539.00
V. Net profit (“-” means loss) 689,686,375.00 400,128,827.00
Including: Net profit achieved by combined parties
0.00 0.00
before the combinations
Attributable to owners of the Company 587,651,989.00 286,903,021.00
Minority shareholders’ income 102,034,386.00 113,225,806.00
VI. Earnings per share -- --
(I) Basic earnings per share 0.043 0.021
(II) Diluted earnings per share 0.043 0.021
VII. Other comprehensive incomes -31,101,945.00 2,894,727.00
VIII. Total comprehensive incomes 658,584,430.00 403,023,554.00
Attributable to owners of the Company 556,550,044.00 289,797,748.00
Attributable to minority shareholders 102,034,386.00 113,225,806.00
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
Prepared by BOE TECHNOLOGY GROUP CO., LTD.
17
Report for the First Quarter of 2014 of BOE TECHNOLOGY GROUP CO., LTD.
Unit: RMB Yuan
Item Jan.-Mar. 2014 Jan.-Mar. 2013
I. Total sales 92,668,217.00 115,417,654.00
Less: cost of sales 33,509,018.00 31,075,921.00
Business taxes and surcharges 1,367,836.00 2,551,661.00
Distribution expenses 650,962.00 1,213,807.00
Administrative expenses 149,560,940.00 118,118,721.00
Financial costs 76,150,896.00 -13,354,000.00
Impairment loss 0.00 0.00
Add: gain/(loss) from change in fair value (“-” means loss) 0.00 0.00
Gain/(loss) from investment (“-” means loss) 1,374,620.00 565,295.00
Including: income form investment on associates and joint
1,374,620.00 565,295.00
ventures
II. Business profit (“-” means loss) -167,196,815.00 -23,623,161.00
Add: non-business income 3,309,122.00 830,616.00
Less: non-business expense 39,129.00 2,800.00
Including: loss from non-current asset disposal 0.00 0.00
III. Total profit (“-” means loss) -163,926,822.00 -22,795,345.00
Less: income tax expense 0.00 0.00
IV. Net profit (“-” means loss) -163,926,822.00 -22,795,345.00
V. Earnings per share -- --
(I) Basic earnings per share -0.0121 -0.0017
(II) Diluted earnings per share -0.0121 -0.0017
VI. Other comprehensive income 44,864,553,303.00 2,092,637.00
VII. Total comprehensive income 44,700,626,481.00 -20,702,708.00
Legal representative: Wang Dongsheng Person-in-charge of the accounting work: Sun Yun
Chief of the accounting division: Yang Xiaoping
5. Consolidated cash flow statement
Prepared by BOE TECHNOLOGY GROUP CO., LTD.
Unit: RMB Yuan
Item Jan.-Mar. 2014 Jan.-Mar. 2013
I. Cash flows from operating activities:
18
Report for the First Quarter of 2014 of BOE TECHNOLOGY GROUP CO., LTD.
Cash received from sale of commodities and rendering of
9,220,709,287.00 7,362,659,563.00
service
Net increase of deposits from customers and dues from
0.00 0.00
banks
Net increase of loans from the central bank 0.00 0.00
Net increase of funds borrowed from other financial
0.00 0.00
institutions
Cash received from premium of original insurance
0.00 0.00
contracts
Net cash received from reinsurance business 0.00 0.00
Net increase of deposits of policy holders and investment
0.00 0.00
fund
Net increase of disposal of tradable financial assets 0.00 0.00
Cash received from interest, handling charges and
0.00 0.00
commissions
Net increase of intra-group borrowings 0.00 0.00
Net increase of funds in repurchase business 0.00 0.00
Tax refunds received 466,644,640.00 277,597,406.00
Other cash received relating to operating activities 623,329,006.00 133,863,470.00
Subtotal of cash inflows from operating activities 10,310,682,933.00 7,774,120,439.00
Cash paid for goods and services 6,935,866,360.00 4,961,761,422.00
Net increase of customer lendings and advances 0.00 0.00
Net increase of funds deposited in the central bank and
0.00 0.00
amount due from banks
Cash for paying claims of the original insurance contracts 0.00 0.00
Cash for paying interest, handling charges and
0.00 0.00
commissions
Cash for paying policy dividends 0.00 0.00
Cash paid to and for employees 1,085,869,294.00 767,737,467.00
Various taxes paid 255,430,063.00 234,395,085.00
Other cash payment relating to operating activities 353,432,283.00 349,634,932.00
Subtotal of cash outflows from operating activities 8,630,598,000.00 6,313,528,906.00
Net cash flows from operating activities 1,680,084,933.00 1,460,591,533.00
II. Cash flows from investing activities:
Cash received from withdrawal of investments 0.00 0.00
Cash received from return on investments 0.00 0.00
19
Report for the First Quarter of 2014 of BOE TECHNOLOGY GROUP CO., LTD.
Net cash received from disposal of fixed assets, intangible
128,324.00 57,410.00
assets and other long-term assets
Net cash received from disposal of subsidiaries or other
0.00 0.00
business units
Other cash received relating to investing activities 883,712,077.00 232,745,776.00
Subtotal of cash inflows from investing activities 883,840,401.00 232,803,186.00
Cash paid to acquire fixed assets, intangible assets and
4,042,846,525.00 1,298,473,831.00
other long-term assets
Cash paid for investment 5,971,884.00 0.00
Net increase of pledged loans 0.00 0.00
Net cash paid to acquire subsidiaries and other business
0.00 0.00
units
Other cash payments relating to investing activities 22,452,465.00 21,199,726.00
Subtotal of cash outflows from investing activities 4,071,270,874.00 1,319,673,557.00
Net cash flows from investing activities -3,187,430,473.00 -1,086,870,371.00
III. Cash Flows from Financing Activities:
Cash received from capital contributions 30,752,700,690.00 0.00
Including: Cash received from minority shareholder
0.00 0.00
investments by subsidiaries
Cash received from borrowings 7,953,942,608.00 1,908,751,739.00
Cash received from issuance of bonds 0.00 0.00
Other cash received relating to financing activities 31,788,804.00 11,591,711.00
Subtotal of cash inflows from financing activities 38,738,432,102.00 1,920,343,450.00
Repayment of borrowings 6,139,782,895.00 670,908,643.00
Cash paid for interest expenses and distribution of
306,689,900.00 277,659,730.00
dividends or profit
Including: dividends or profit paid by subsidiaries to
0.00 0.00
minority shareholders
Other cash payments relating to financing activities 443,411,961.00 39,631,410.00
Sub-total of cash outflows from financing activities 6,889,884,756.00 988,199,783.00
Net cash flows from financing activities 31,848,547,346.00 932,143,667.00
IV. Effect of foreign exchange rate changes on cash and cash
35,386,569.00 -34,307,742.00
equivalents
V. Net increase in cash and cash equivalents 30,376,588,375.00 1,271,557,087.00
Add: Opening balance of cash and cash equivalents 16,474,975,849.00 13,556,486,692.00
VI. Closing balance of cash and cash equivalents 46,851,564,224.00 14,828,043,779.00
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Report for the First Quarter of 2014 of BOE TECHNOLOGY GROUP CO., LTD.
Legal representative: Wang Dongsheng Person-in-charge of the accounting work: Sun Yun
Chief of the accounting division: Yang Xiaoping
6. Cash flow statement of the Company
Prepared by BOE TECHNOLOGY GROUP CO., LTD.
Unit: RMB Yuan
Item Jan.-Mar. 2014 Jan.-Mar. 2013
I. Cash flows from operating activities:
Cash received from sale of commodities and rendering of
38,708,872.00 31,481,291.00
service
Tax refunds received 540,186.00 0.00
Other cash received relating to operating activities 300,175,856.00 122,050,655.00
Subtotal of cash inflows from operating activities 339,424,914.00 153,531,946.00
Cash paid for goods and services 48,088,325.00 43,125,205.00
Cash paid to and for employees 132,210,190.00 108,437,778.00
Various taxes paid 19,480,900.00 1,593,603.00
Other cash payment relating to operating activities 98,472,402.00 72,602,657.00
Subtotal of cash outflows from operating activities 298,251,817.00 225,759,243.00
Net cash flows from operating activities 41,173,097.00 -72,227,297.00
II. Cash flows from investing activities:
Cash received from retraction of investments 0.00 0.00
Cash received from return on investments 0.00 0.00
Net cash received from disposal of fixed assets, intangible
2,100.00 36,000.00
assets and other long-term assets
Net cash received from disposal of subsidiaries or other
0.00 0.00
business units
Other cash received relating to investing activities 10,562,426.00 10,212,111.00
Subtotal of cash inflows from investing activities 10,564,526.00 10,248,111.00
Cash paid to acquire fixed assets, intangible assets and
26,914,282.00 7,679,449.00
other long-term assets
Cash paid for investment 6,000,000.00 400,000,000.00
Net cash paid to acquire subsidiaries and other business
0.00 0.00
units
Other cash payments relating to investing activities 2,168,040.00 0.00
Subtotal of cash outflows from investing activities 35,082,322.00 407,679,449.00
21
Report for the First Quarter of 2014 of BOE TECHNOLOGY GROUP CO., LTD.
Net cash flows from investing activities -24,517,796.00 -397,431,338.00
III. Cash Flows from Financing Activities:
Cash received from capital contributions 30,752,700,690.00 0.00
Cash received from borrowings 0.00 0.00
Cash received from issuance of bonds 0.00 0.00
Other cash received relating to financing activities 0.00 0.00
Subtotal of cash inflows from financing activities 30,752,700,690.00 0.00
Repayment of borrowings 0.00 0.00
Cash paid for interest expenses and distribution of
0.00 0.00
dividends or profit
Other cash payments relating to financing activities 0.00 0.00
Sub-total of cash outflows from financing activities 0.00 0.00
Net cash flows from financing activities 30,752,700,690.00 0.00
IV. Effect of foreign exchange rate changes on cash and cash
18,319.00 -2,356.00
equivalents
V. Net increase in cash and cash equivalents 30,769,374,310.00 -469,660,991.00
Add: Opening balance of cash and cash equivalents 1,702,470,760.00 2,264,319,604.00
VI. Closing balance of cash and cash equivalents 32,471,845,070.00 1,794,658,613.00
Legal representative: Wang Dongsheng Person-in-charge of the accounting work: Sun Yun
Chief of the accounting division: Yang Xiaoping
II. Audit report
Is this report audited?
□ Yes √ No
This report is not audited.
22