2014 Semi-annual Report
August 2014
2014 Semi-annual Report of BOE Technology Group Co., Ltd.
Section I. Important Reminders, Contents & Definition
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.
All directors attended the board session for reviewing this report.
The Company plans not to distribute cash dividends or bonus shares or turn capital reserve into share capital.
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 Report enclosed in this report is factual, accurate and complete.
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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2014 Semi-annual Report of BOE Technology Group Co., Ltd.
Contents
Section I. Important Reminders, Contents & Definition .............................................. 1
Section II. Company Profile .......................................................................................... 4
Section III. Highlights of Accounting Data & Financial Indicators ............................. 6
Section IV. Report of the Board of Directors ................................................................ 9
Section V. Significant Events ...................................................................................... 25
Section VI. Change in Shares & Shareholders ............................................................ 33
Section VII. Directors, Supervisors & Senior Management Staff .............................. 42
Section VIII. Financial Report .................................................................................... 45
Section IX. Documents Available for Reference ...................................................... 212
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2014 Semi-annual Report of BOE Technology Group Co., Ltd.
Definition
Term Refers to Definition
BOE, the Company, Company Refers to BOE Technology Group Co., Ltd.
Stock Listing Rules Refers to Stock Listing Rules of Shenzhen Stock Exchange (Revised in 2012)
SZSE, the Stock Exchange Refers to Shenzhen Stock Exchange
CSRC Refers to China Securities Regulation Commission
CSRC Beijing Refers to China Securities Regulation Commission Beijing Bureau
Articles of Association Refers to Articles of Association of BOE Technology Group Co., Ltd.
The “Company Law” Refers to The “Company Law of the People’s Republic of China”
The “Securities Law” Refers to The “Securities Law of the People’s Republic of China”
AMOLED Refers to Active Matrix/Organic Light Emitting Diode
LTPS Refers to Low Temperature Poly-silicon
The cninfo website Refers to http://www.cninfo.com.cn/
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2014 Semi-annual Report of BOE Technology Group Co., Ltd.
Section II. Company Profile
I. Basic information of the Company
Stock abbreviation BOE A, BOE B Stock code 000725, 200725
Stock exchange listed with Shenzhen Stock Exchange
Chinese name of the Company 京东方科技集团股份有限公司
Abbr. of the Chinese name of
京东方
the Company (if any)
English name of the Company
BOE TECHNOLOGY GROUP CO., LTD.
(if any)
Abbr. of the English name of
BOE
the Company (if any)
Legal representative of the
Wang Dongsheng
Company
II. Contact information
Item Company Secretary Securities Affairs Representative
Name Liu Hongfeng Xiao Zhaoxiong
No. 10, Jiuxianqiao Road, Chaoyang No. 10, Jiuxianqiao Road, Chaoyang
Contact address
District, Beijing, P.R.China District, Beijing, P.R.China
Tel. 010－64318888 ext. 010－64318888 ext.
Fax 010－64366264 010－64366264
E-mail liuhongfeng@boe.com.cn xiaozhaoxiong@boe.com.cn
III. Other information
1. Ways to contact the Company
Did any change occur to the registered address, office address and their postal codes, website address and email address of the
Company during the reporting period?
□ Applicable √ Inapplicable
The registered address, office address and their postal codes, website address and email address of the Company did not change
during the reporting period. The said information can be found in the 2013 Annual Report.
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2014 Semi-annual Report of BOE Technology Group Co., Ltd.
2. About information disclosure and where this report is placed
Did any change occur to information disclosure media and where this report is placed during the reporting period?
□ Applicable √ Inapplicable
The newspapers designated by the Company for information disclosure, the website designated by CSRC for disclosing this report
and the location where this report is placed did not change during the reporting period. The said information can be found in the 2013
Annual Report.
3. Change of the registered information
Did any change occur to the registered information during the reporting period?
√Applicable □ Inapplicable
Business license Registration code Organizational
Item Registration date Registration place
No. of taxation code
No. 10, Jiuxianqiao
At the beginning of the Road, Chaoyang
6 Dec. 2011 110000005012597 110105101101660 10110166-0
reporting period District, Beijing,
P.R.China
No. 10, Jiuxianqiao
At the end of the reporting Road, Chaoyang
13 Jun. 2014 110000005012597 110105101101660 10110166-0
period District, Beijing,
P.R.China
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2014 Semi-annual Report of BOE Technology Group Co., Ltd.
Section III. Highlights of Accounting Data & Financial Indicators
I. Major accounting data and financial indicators
Does the Company adjust retrospectively or restate accounting data of previous years due to change of any accounting policy or
correction of any accounting error?
□ Yes √ No
Item Reporting period Same period of last year YoY +/- (%)
Operating revenues (RMB Yuan) 16,113,171,584.00 16,254,326,067.00 -0.87%
Net profit attributable to shareholders of
1,041,635,714.00 859,288,893.00 21.22%
the Company (RMB Yuan)
Net profit attributable to shareholders of
the Company after extraordinary gains 550,289,218.00 767,426,780.00 -28.29%
and losses (RMB Yuan)
Net cash flows from operating activities
3,253,640,502.00 3,727,889,361.00 -12.72%
(RMB Yuan)
Basic EPS (RMB Yuan/share) 0.050 0.064 -21.88%
Diluted EPS (RMB Yuan/share) 0.050 0.064 -21.88%
Weighted average ROE (%) 2.38% 3.26% -0.88%
As at the end of the reporting
Item As at the end of last year +/- (%)
period
Total assets (RMB Yuan) 127,935,205,029.00 92,538,451,492.00 38.25%
Net assets attributable to shareholders of
74,357,433,156.00 28,251,815,361.00 163.20%
the Company (RMB Yuan)
II. Differences between accounting data under domestic and overseas accounting standards
1. Differences of net profit and net assets disclosed in financial reports prepared under international and
Chinese accounting standards
□ Applicable √ Inapplicable
No difference.
2. Differences of net profit and net assets disclosed in financial reports prepared under overseas and
Chinese accounting standards
□ Applicable √ Inapplicable
No difference.
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2014 Semi-annual Report of BOE Technology Group Co., Ltd.
III. Items and amounts of extraordinary gains and losses
√Applicable □ Inapplicable
Unit: RMB Yuan
Item Amount Explanation
Gains/losses on the disposal of non-current assets (including the -
-1,891,756.00
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
513,933,311.00
certain quotas or amounts according to the country’s unified
standards
Capital occupation charges on non-financial enterprises that were -
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 -
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 normal -
0.00
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
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2014 Semi-annual Report of BOE Technology Group Co., Ltd.
Reversal of impairment provisions for the accounts receivable on -
0.00
which the impairment test was carried out separately
Gain/loss on loans obtained by entrusting others 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 -
Non-operating income and expenses other than the above 27,306,440.00 -
Other gain/loss items that meet the definition of an extraordinary -
0.00
gain/loss
Less: Income tax effects 27,313,193.00 -
Minority interests effects (after tax) 20,688,306.00 -
Total 491,346,496.00 -
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
No such cases during the reporting period.
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2014 Semi-annual Report of BOE Technology Group Co., Ltd.
Section IV. Report of the Board of Directors
I. Overview
The first half of 2014 saw a mild recovery of the global economy, but quite a few uncertain and unstable factors still existed. In terms
of the industry as a whole, demand slowed down due to the economic and market environments; prices went down distinctively; and
competition was spreading from technology, production capacity, prices to customers, products, talent, intellectual property rights,
industrial chains and even business modes. With the traditional display panel still being the main competitive factor, competition for
customers became fiercer regarding the system, contents and innovative application products. Despite the sharp market fluctuations,
the fierce competition in the industry and the falling product prices, we managed to produce in a full capacity in the four production
lines and sell all the products produced. For the first half of 2014, the Company achieved operating revenues of RMB 16.1 billion
and net profit attributable to the Company of RMB 1.042 billion. The large and medium-sized products in particular contributed a lot
to the fulfillment of our business plan. In the first half of the year, we smoothly carried out a directional additional issue to raise
funds of RMB 45.7 billion. The 98”8K*4K product was successfully introduced to Japan NHK and shown in the America SID
Display Week. The production capacity and yield of the Hefei 8.5G Line went straight up and mass production was realized ahead of
schedule. The LTPS and Oxide techniques also improved steadily.
Operation of specific divisions:
1. Display device division:
(1) Large and medium-sized panel division: Firstly, we deepened cooperation with strategic customers, the notebook transfer-line
products were accepted by the customers, the mainstream display products kept a leading market share and the accumulative profit of
TV products was handsome. The efforts in new application market expansion produced good results, and the see-through displays
and the 110” module gradually came to mass production and sale. Secondly, we developed 22 new products, with the products of a
high gross profit rate accounting for 36% of them. Thirdly, we deepened lean management and the production capacity of the Beijing
8.5G Line hit a record high. Fourthly, the shift to small-sized products produced remarkable results, with the product structure
improved and the proportion of products with a high gross profit rate increased. Fifthly, we enhanced the supply chain management,
and new progress was made in the key material and equipment dualization and domestication projects.
(2) Medium and small-sized panel division: We solidified the customer foundation and the position of the biggest supplier. Through
the “early supplier introduction” mechanism, we achieved common interests with our customers. We designed a lot of new products
according to the customers’ needs and more samples were accepted when they were sent to customers for the first time. The
cutting-edge technology and the product innovation capability improved, quite a few high-performance cell phone screens were
developed, and a phasic breakthrough was made in the LTPS technology development. The Beijing 5G Line increased the proportion
of high-end cell phones. The Chengdu 4.5G Line pushed forward the transformation of products for vehicles, medical use and wear.
The transformation of the Hefei 6G Line towards small-sized products produced good results. The interconnection and cross-line
combined transportation mechanism among the production lines improved day by day. And the operating efficiency increased
through information sharing, centralized resource allocation, etc.
(3) Electronic material division and vacuum electrical appliance division: In terms of the electronic material division, the vacuum dry
pump maintenance project went on well and was put into operation as planned, and the photoresist products of Beijing Asahi Glass
Electronics Co., Ltd. were introduced to customers. As for the vacuum electrical appliance division, it dealt with the market changes,
vigorously developed the whole-appliance business and became a new business growth point.
2. Intellectual system division:
(1) Display terminal division: The product innovative planning, design and development capability was enhanced and the product
roadmaps were made clear. Considering the market demand for products of better quality, we improved the product performance and
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2014 Semi-annual Report of BOE Technology Group Co., Ltd.
ensured the profitability by fully satisfying customers’ needs. The BiTV 1.0 series and the 1.1 series of products were launched
successively, and the design and development of the BiSD high-end product proceeded in an orderly manner. Joining hands with
international consulting companies, we enhanced the BOE brand through internet influence and promoted physical stores to improve
the brand image when the BiTV product was launched.
(2) Lighting/photovoltaic division: The independent R&D ability was enhanced and the business mode was innovated. A lighting
series was launched and well received. We explored ambient lighting and photovoltaic system integration solutions and promoted the
quick birth of application integration innovative products.
(3) OEM division: We earnestly carried out the working policy of “follow the strategy, solidify the foundation and stabilize profit”.
As a result, the business results of the large and medium-sized as well as the small and medium-sized operations improved greatly
when compared with the same period of last year.
3. Health care and service division
(1) Professional park division: All main operating indicator objectives were fulfilled, providing a stable cash flow for the Group. The
park operation ability, the property service and the standardization management ability improved. A high-end brand park image took
shape, with recognition from the market and customers.
(2) Medical care division: The designs of the top layer and the future business mode were completed. The market research and
preliminary planning for the intelligent medical care park was initiated. The planning for a digital hospital and the design and
development of medical care products proceeded as scheduled.
(3) Cloud service project: The organizational structure design was completed. And the preliminary planning and design of cloud
computing products were also finished.
II. Main business analysis
YoY change of major financial data:
Unit: RMB Yuan
Item Reporting period Same period of YoY +/-% Main reasons for
last year change
Operating revenues 16,113,171,584.00 16,254,326,067.00 -0.87% --
Operating costs 12,630,118,473.00 12,461,334,555.00 1.35% --
Selling expenses 481,663,833.00 516,250,043.00 -6.70% --
Administrative expenses As the new
production lines
came to massive
production and
the Group
increased the
technology input,
1,698,855,995.00 1,449,893,803.00 17.17%
the R&D
expenses, the
labor cost, the
amortization of
intangible assets
and the like
increased.
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2014 Semi-annual Report of BOE Technology Group Co., Ltd.
Financial expenses Monetary funds
increased and the
106,739,572.00 193,412,657.00 -44.81% interest income
increased
accordingly.
Income tax expenses The operating
results improved
and the enterprise
156,020,200.00 23,290,836.00 569.88%
income tax
increased
accordingly.
R&D inputs 934,158,103.00 885,524,040.00 5.49% --
Net cash flows from --
3,253,640,502.00 3,727,889,361.00 -12.72%
operating activities
Net cash flows from investing --
-9,406,248,514.00 -7,512,653,893.00 25.21%
activities
The cash inflows
from financing
Net cash flows from activities
30,604,020,368.00 12,752,152,132.00 139.99%
financing activities increased due to
the additional
issue.
Net increase in cash and cash 176.65% The net cash and
equivalents cash equivalents
24,494,958,224.00 8,854,254,635.00 from the
additional issue
increased.
Major changes to the profit structure or sources of the Company during the reporting period:
□ Applicable √ Inapplicable
No major changes occurred to the profit structure or sources of the Company during the reporting period.
Reporting period progress of the future development planning in the disclosed documents of the Company such as share-soliciting
prospectuses, offering prospectuses, asset reorganization reports, etc.:
□ Applicable √ Inapplicable
The Company did not mention any future planning for the reporting period in its disclosed documents such as share-soliciting
prospectuses, offering prospectuses, asset reorganization reports, etc.
Review the progress of any previously disclosed business plan in the reporting period:
1. Concerning the Hefei 8.5G Line, it came to mass production in this February, the 30K production capacity for the first phase went
straight up, the highest product yield went over 97%, and the UHD TV and PAD products were well received by customers.
2. In regard with the Erdos 5.5G AMOLED project put into production in Nov. 2013, we proactively pushed forward its mass
production progress. Currently, the production line is ready for mass production and able to output small batches of smart cellphone
panels.
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2014 Semi-annual Report of BOE Technology Group Co., Ltd.
3. As for the Chongqing 8.5G Line of which the construction started in Jul. 2013, it went on well. And the structural capping of the
main plants has now completed.
III. Breakdown of main business
Unit: RMB Yuan
Increase/decrease Increase/decrease Increase/decrease
Gross of operating of operating of gross profit
Operating
Item Operating costs profit rate revenues over the costs over the rate over the
revenues
(%) same period of same period of same period of
last year (%) last year (%) last year (%)
Classified by industry
TFT-LCD 13,684,856,896.00 10,697,421,890.00 21.83% -3.10% -1.05% -1.62%
Display light
926,445,592.00 843,394,362.00 8.96% 10.85% 11.23% -0.31%
source
Display
1,742,432,325.00 1,617,639,224.00 7.16% 15.08% 14.32% 0.61%
system
Other 248,115,928.00 125,048,809.00 49.60% -45.33% -57.09% 13.81%
Offset -1,198,950,446.00 -1,182,304,606.00 1.39% -19.00% -17.20% -2.15%
Classified by product
TFT-LCD 13,684,856,896.00 10,697,421,890.00 21.83% -3.10% -1.05% -1.62%
Display light
926,445,592.00 843,394,362.00 8.96% 10.85% 11.23% -0.31%
source
Display
1,742,432,325.00 1,617,639,224.00 7.16% 15.08% 14.32% 0.61%
system
Other 248,115,928.00 125,048,809.00 49.60% -45.33% -57.09% 13.81%
Offset -1,198,950,446.00 -1,182,304,606.00 1.39% -19.00% -17.20% -2.15%
Classified by region
China 8,801,174,730.00 6,306,454,521.00 28.35% 7.35% 5.66% 1.14%
Other Asian
countries and 5,671,285,833.00 4,926,631,157.00 13.13% -2.85% 7.04% -8.02%
regions
Europe 343,448,144.00 299,839,503.00 12.70% -38.89% -43.46% 7.04%
America 586,991,588.00 568,274,498.00 3.19% -25.79% -18.38% -8.79%
IV. Core competitiveness analysis
1. We optimize our business layout and steadily increase our ability for sustainable development in the
future.
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2014 Semi-annual Report of BOE Technology Group Co., Ltd.
On the basis of solidifying and increasing the competitiveness of our display device business, we continue to
explore new development modes, look for new profit growth points and seek new opportunities for our
sustainable development. In the first half of the year, as the Hefei 8.5G Line and the Erdos 5.5G Line stepped
into normal operation, the product range was further enriched, more customers’ needs were satisfied and the
overall influence and competitiveness of our display device business were further enhanced. In terms of the
intelligent system business, we launched a series of new products such as 32”FHD, 42”FHD and
55”FHD/UHD; the OEM output increased significantly year on year; and the overall competitiveness of the
business improved remarkably. Meanwhile, new business exploration produced phasic results; and the top
layer design of the medical care business was completed successfully and carried out step by step. The sound
development of all the business divisions lays a foundation for improving the internal synergistic effect and
promoting business upgrading. It will also help us achieve sustainable development in the long run.
2. Innovation creates value. Our product and technology independent innovation capability improves
rapidly.
The key to survive is to improve the performance rapidly and constantly. We have always attached great
importance to R&D input and tried to increase the comprehensive technology competitiveness through
constant independent product and technology innovation. In the first half of the year, we filed 2,600 patent
applications. And we now have over 20,000 valid patents in total. We accumulate technologies and promote
continuous innovation of products, which receives international recognition. The BOE 30” Oxide AMOLED
Display Screen won the 2014 CITE Innovative Product and Application Gold Award. The 98” 8K Display
Screen won the CITE Innovation Gold Award and the SID Display Week “Best in Show" Award. Besides, we
have also launched quite a few cutting-edge products. For example, the 6" LTPS cellphone screen with its
pixel density reaching 500PPI, the cellphone screen adopting the most advanced touch-sensitive technology in
the industry and the thinnest and lightest cellphone screen in the world of 0.95mm in thickness.
3. We stick to the principle of “value for both parties” and continuously enhance the ability to expand
and cooperate with strategic customers.
Upholding the policy of “in-depth cooperation, collaborative development and value for both parties”, we
continue to enhance the cooperation with customers at home and abroad, and establish a long-term stable
strategic cooperation partnership with famous brands around the world. While enhancing the cooperation with
strategic customers, we constantly improve the customer structure, enhance expansion of strategic customers
and promote full production and sale of products. In the first half of the year, we initiated an annual strategic
cooperation with Konka, providing high-end LCD TV screens for it. Besides, we kept jointly promoting new
products with our strategic customers. During the CES period in 2014, we successfully conducted joint
product and brand promotions with customers, which improved the brand effect and solidified the partnership.
4. We cultivate talent hierarchically and purposefully and strengthen the human capital.
We adhere to a talent development mode of independent cultivation as the main way and new employment as
a support, enhance development of the talent ladder and develop talent in a progressive and fast manner. At
the same time, we constantly improve the organization, the flows and the mechanisms to stimulate the
enthusiasm and creativity of employees. In the first half of the year, we carried out a series of training
programs to cultivate management talents and leaders. We adopted more purposeful cultivation modes for
different talents. At the same time, we paid attention to the combination of training and practice to promote
the constant improvement of the talent cultivation system.
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2014 Semi-annual Report of BOE Technology Group Co., Ltd.
V. Investment analysis
1. Investments in equities of external parties
(1) Investments in external parties
□ Applicable √ Inapplicable
The Company did not invest in any external party in the reporting period.
(2) Equity-holdings in financial enterprises
√Applicable □ Inapplicable
Gain/lo
ss in
Initial the
Opening Opening Closing Closing Closing
Enterpris Enterprise investment reportin Accounti Equity
equity-holdi equity-holdi equity-holdi equity-holdi book value
e name variety cost (RMB g ng title source
ngs (share) ng ratio ngs (share) ng ratio (RMB Yuan)
Yuan) period
(RMB
Yuan)
Financial
Bank of
Commerc 120,084,375. 102,192,495. assets Subscripti
Chongqi 25,195,000 0.93% 25,195,000 0.93% 0.00
ial bank 00 00 available on
ng
for sale
120,084,375. 102,192,495.
Total 25,195,000 -- 25,195,000 -- 0.00 -- --
00 00
(3) Investment in securities
Shareholdings in other listed companies:
√Applicable □ Inapplicable
The Change of
Gain/loss in
Initial Company’s Closing book owner’s equity
Securities Securities the reporting Source of
investment cost shareholding value (RMB in the reporting Accounting title
code abbr. period (RMB stock
(RMB Yuan) percentage in Yuan) period (RMB
Yuan)
the investee Yuan)
HK00903 TPV 134,658,158.00 1.04% 27,650,339.00 0.00 -2,992,832.00
Available-for-sale
Technology Subscription
financial assets
SH600658 Electronic 90,160,428.00 1.69% 96,231,032.00 2,533,429.00 -19,049,816.00
Available-for-sale Share
Zone
financial assets exchange
Total 224,818,586.00 -- 123,881,371.00 2,533,429.00 -22,042,648.00 -- --
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2014 Semi-annual Report of BOE Technology Group Co., Ltd.
2. Wealth management entrustment, derivative investments and entrustment loans
(1) Wealth management entrustment
□ Applicable √ Inapplicable
The Company did not make any wealth management entrustment in the reporting period.
(2) Derivative investment
□ Applicable √ Inapplicable
The Company did not carry out any derivative investment in the reporting period.
(3) Entrustment loans
□ Applicable √ Inapplicable
There were no entrustment loans in the reporting period.
3. Use of raised funds
（1）Overview of the use of raised funds
√Applicable □ Inapplicable
Unit: RMB Ten thousand
Total raised funds 4,488,471
Raised funds input in the reporting period 1,895,708
Raised funds accumulatively input 1,895,708
Raised funds with changed use in the reporting period 0
Accumulative raised funds with changed use 0
Proportion of accumulative raised funds with changed
0.00%
use (%)
Overview of the use of raised funds
The total raised funds stood at RMB 45,712,999,989.30. After deducting the various issuance expense of RMB 828,294,936.66, the
net raised funds via asset and cash subscription stood at RMB 44,884,705,052.64. The total raised funds input in the reporting period
included the asset subscription of RMB 8,532,999,999.30 by Beijing State-owned Capital Management Center with its 48.92% stake
in Beijing BOE Display Technology Co., Ltd., and the subscription of RMB 5,999,999,999.70 by Hefei Jianxiang Investment Co.,
Ltd. with its creditor’s rights due from the Company and in regard with the investment projects of the funds raised through this
private offering. In the reporting period, we input the raised funds to the projects as planned.
（2）Projects invested with raised funds as promised
√Applicable □ Inapplicable
Unit: RMB Ten thousand
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2014 Semi-annual Report of BOE Technology Group Co., Ltd.
Projects
Project Investment Date when Material
invested with Accumulative Profit
changed Raised Investment Input in progress the project change in
raised capital as input up to generated in Reach the
or not capital after the up to the reaches the the
promised and the the expected
(including input as adjustment reporting period-end expected project
investments period-end reporting profit or not
partially promised (1) period (%)(3)＝ usable feasibility
with over-raised (2) period
changed) (2)/(1) condition or not
capital
Projects invested with raised capital as promised
8.5G TFT LCD
Project (Hefei
Xinsheng No 1,300,000 1,300,000 711,228 711,228 55.00% Dec. 2014 -5,830 Inapplicable No
Optoelectronics
8.5G)
Touch Screen
Production Line
Project ((Hefei No 250,000 250,000 56,069 56,069 22.00% Jun. 2015 346 Inapplicable No
Xinsheng
Optoelectronics)
5.5G
AM-OLED
No 400,000 400,000 29,989 29,989 7.00% Dec. 2015 -4,037 Inapplicable No
Project（Erdos
5.5G）
8.5G New
Semi-conductor
Display Device
& System No 1,520,000 1,520,000 79,951 79,951 5.00% Mar. 2016 -165 Inapplicable No
Project
(Chongqing
8.5G)
Supplementing
the working No 165,171 165,171 165,171 165,171 100.00% Inapplicable Inapplicable Inapplicable No
capital
BOE Display
Equity
No 853,300 853,300 853,300 853,300 100.00% Apr. 2014 13,543 Inapplicable No
Subscription
Project
Subtotal of
promised Inapplicable
-- 4,488,471 4,488,471 1,895,708 1,895,708 -- -- -- --
investment
projects
Investments of over-raised capital
16
2014 Semi-annual Report of BOE Technology Group Co., Ltd.
Inapplicable
Total -- 4,488,471 4,488,471 1,895,708 1,895,708 -- -- -- --
Reason for
failing to reach
scheduled
progress or
Naught
projected
income (explain
one project by
one project)
Explanation on
significant
changes in Naught
feasibility of
projects
Amount, usage
and usage
progress of Inapplicable
over-raised
capital
Change of the
implementation
location of any
Inapplicable
raised funds
investment
project
Adjustment of
the
implementation
method of any Inapplicable
raised funds
investment
project
Advanced input
and exchange of
any raised funds Inapplicable
investment
project
Idle raised
capital for
Inapplicable
temporarily
supplementing
17
2014 Semi-annual Report of BOE Technology Group Co., Ltd.
working capital
Outstanding
raised funds in
project Inapplicable
implementation
and reasons
Usage and
whereabouts of
The unused raised capital will be input to promised investment projects as planned.
unused raised
capital
Problems found
in the usage and
disclosure
Naught
affairs of raised
capital and other
situations
（3）Change of raised-funds-invested projects
□ Applicable √ Inapplicable
No change of raised-funds-invested projects during the reporting period.
（4）Projects invested with raised funds
For details, see
disclosed on the same date with this semi-annual report.
18
2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
4. Analysis to main subsidiaries and stock-participating companies
√ Applicable □ Inapplicable
Main subsidiaries and stock-participating companies:
Unit: RMB Yuan
Main Operating Operating
Company name Company variety Industry Registered capital Total assets Net assets Net profit
products/services revenues profit
Beijing BOE
Development and
Optoelectronics Semi-conductor
Subsidiary production of USD 649.11 6,667,286,823.00 5,021,781,540.00 1,724,945,013.00 191,967,128.00 182,894,540.00
Technology Co., display million
TFT-LCD
Ltd.
Chengdu BOE
Development and
Optoelectronics Semi-conductor
Subsidiary production of RMB 1.83 billion 3,188,649,788.00 2,080,906,691.00 1,497,623,696.00 42,361,753.00 50,310,101.00
Technology Co., display
TFT-LCD
Ltd.
Hefei BOE
Development and
Optoelectronics Semi-conductor
Subsidiary production of RMB 9 billion 17,657,233,622.00 9,179,511,190.00 3,571,382,466.00 225,385,241.00 557,783,338.00
Technology Co., display
TFT-LCD
Ltd.
Beijing BOE
Development and
Display Semi-conductor RMB 17.3772
Subsidiary production of 29,566,578,126.00 18,048,869,389.00 7,080,336,318.00 380,521,081.00 402,001,699.00
Technology Co., display billion
TFT-LCD
Ltd.
Hefei Xinsheng Investment,
Semi-conductor
Optoelectronics Subsidiary construction, RMB 19.5 billion 33,308,364,713.00 19,470,849,742.00 20,081,101.00 -60,885,886.00 -54,839,190.00
display
Technology Co., R&D, production
19
2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Ltd. and sales of the
relevant products
of thin film
transistor LCD
and its auxiliary
products
Production and
operation of the
relevant products
of the
Erdos Yuansheng
Semi-conductor active-matrix RMB 6.104
Optoelectronics Subsidiary 12,542,785,426.00 6,088,100,336.00 388,882.00 -65,533,608.00 -40,368,023.00
display organic light billion
Co., Ltd.
emitting diodes
display devices
and its auxiliary
products
5. Significant projects invested with non-raised funds
□ Applicable √ Inapplicable
No significant projects of investments with non-raised funds during the reporting period.
VI. Predict the operating results of Jan.-Sept. 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
20
2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
VII. Explanation by the Board of Directors and the Supervisory Committee about the “non-standard audit report” issued by the CPAs
firm for the reporting period
□ Applicable √ Inapplicable
VIII. Explanation by the Board of Directors about the “non-standard audit report” for last year
□ Applicable √ Inapplicable
IX. Implementation of profit allocation during the reporting period
Profit allocation plan implemented during the reporting period, especially execution and adjustment of the cash dividend plan and the plan for turning capital reserve into share capital:
□ Applicable √ Inapplicable
As the profit allocation plan for last year, the Company did not distribute cash dividends or bonus shares or turn capital reserve into share capital.
X. Preplan for profit distribution and turning capital reserve into share capital for the reporting period
□ Applicable √ Inapplicable
The Company planed not to distribute cash dividends or bonus shares or turn capital reserve into share capital for the reporting period.
XI. Registration form of receiving investigation & research, communication and interviews
√ Applicable □ Inapplicable
Main content of discussion and materials
Reception date Reception place Reception way Type of visitor Visitor
provided by the Company
Meeting Room of Main contents of discussion:
4 Jan. 2014 Field research Institution New China Fund Management Co., Ltd.
the Company 1. Information about corporate operation
4 Jan. 2014 Meeting Room of Field research Institution New China Fund Management Co., Ltd. and future development strategy.
21
2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
the Company 2. Industry situation and development
Telephone tendency.
6 Jan. 2014 Teleconference Institution Allianz GL
communication 3. Information about production lines of
the Company;
Meeting Room of
9 Jan. 2014 Field research Individual Individual investor 4. New products andtechnologies;
the Company
Materials provided:
Sinvo Capital Shareholding Co., Ltd., Anbang Asset
2012 Annual Report, 2013 Third Quarter
Management Co., Ltd., Zhongfu Investment Group,
Meeting Room of Report and Corporate brochure.
22 Jan. 2014 Field research Institution Everbright Securities Co., Ltd., China Life Asset
the Company
Management Company Limited, Bohai Securities
Co., Ltd., Sinom Shareholding Co., Ltd.
Meeting Room of CITIC-Prudential Life Insurance Company Ltd,
11 Feb. 2014 Field research Institution
the Company Bohai Securities Co., Ltd.
Meeting Room of
14 Feb. 2014 Field research Individual Individual investor
the Company
Telephone
26 Feb. 2014 Teleconference Institution Orient Asset Management Corporation
communication
TF Securities Co., Ltd., Shanghai Luan Investment
Meeting Room of
4 Mar. 2014 Field research Institution Co., Ltd., Zhonghai City Shareholding (Beijing)
the Company
Co., Ltd.
Meeting Room of
10 Mar. 2014 Field research Institution Owl Creek
the Company
Meeting Room of
11 Mar. 2014 Field research Individual Individual investor
the Company
Meeting Room of
13 Mar. 2014 Field research Institution HUATAI SECURITIES co., ltd
the Company
Meeting Room of
17 Mar. 2014 Field research Institution Alkeon Capital Management
the Company
22
2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Meeting Room of
18 Mar. 2014 Field research Individual Individual investor
the Company
J.P. Morgan Fund Management Co., Ltd., New
Meeting Room of
31 Mar. 2014 Field research Institution China Fund Management Co., Ltd., INDUSTRIAL
the Company
SECURITIES CO., LTD
Main contents of discussion:
New China Fund ManagementLtd., 1. Information about corporate operation
Co.,
INDUSTRIAL SECURITIES CO., LTD, Beijing and future development strategy.
Jiaxi Asset Management Co., Ltd., China Life Asset 2. Industry situation and development
Management Company Limited, Anbang Asset tendency.
Meeting Room of
23 Apr. 2014 Field research Institution Management Co., Ltd., Bohai Securities Co., Ltd., 3. Information about production lines of
the Company
First Capital Securities Co., Ltd., Yingda Taihe Life the Company;
Insurance Co., Ltd., Guodu Securities Co., Ltd., 4. New product technology
Beijing Ama Ranch Co., Ltd., Orient Asset Materials provided:
Management Corporation
Public information including 2013
Annual Report and Corporate brochure.
Capital Securities Investment Trust Co., Ltd., Claw Main contents of discussion:
Capital, Franklin Templeton SinoAm Securities 1. Information about corporate operation
Telephone Investment Trust Co., Ltd., Yuanta Funds Trust Co., and future development strategy.
13 May 2014 Teleconference Institution
communication Ltd., Shin Kong Life Insurance Co., Ltd., Risheng
2. Industry situation and development
Securities Investment Trust Co., Ltd., Guotai
tendency.
Comprehensive Securities Co., Ltd.
3. Information about production lines of
Telephone the Company;
28 May 2014 Teleconference Institution UOB Asset Management Ltd
communication
4. New product technology
Meeting Room of Materials provided:
28 May 2014 Field research Institution Deutsche Bank, MasterLink Securities
the Company
Public information including 2013
10 Jun. 2014 Meeting Room of Field research Institution Principal, Lighstreet, Citic Lyons Securities Co., Annual Report, 2014 First Quarter
23
2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
the Company Ltd. Report and Corporate brochure.
Telephone
12 Jun. 2014 Teleconference Institution SOCIETE GENERALE
communication
Telephone
17 Jun. 2014 Teleconference Institution Coatue Management
communication
Telephone
19 Jun. 2014 Teleconference Institution Yuanta Funds Trust Co., Ltd.
communication
24
2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Section V. Significant Events
I. Corporate governance
The situation of the Company’s governance did not differ in principle from the Company Law and the relevant CSRC requirements
in the reporting period.
II. Significant lawsuits or arbitrations
□ Applicable √ Inapplicable
The Company was not involved in any significant lawsuit or arbitration in the reporting period.
III. Media’s queries
□Applicable √Inapplicable
There was no media’s common query during the reporting period.
IV. Bankruptcy reorganization
□ Applicable √ Inapplicable
No event involving bankruptcy reorganization occurred to the Company in the reporting period.
V. Asset transactions
1. Purchase of assets
√ Applicable □ Inapplicable
Relations
Ratio of hip
the net between
profit the
Transact
Influenc contribu transacti
Transacti ion Influence
Asset e on the ted by Related-p on party
on party price on the
acquired Compan the asset arty and the Disclos Disclosure
or (RMB Progress Compan
or bought y’s to the transactio Compan ure date index
ultimate Ten y’s
in gain/los Compan n or not y
controller thousan operation
s y to the (applicab
d Yuan)
total le for
profit related-p
(%) arty
transacti
25
2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
ons)
The The
equities Compan
The net
involved y
profit
had all changed
contribu
transferr from
Chongqin ted to Announce
ed, and participat
g the ment on
Chongqi ion to
Jiangbei listed Purchasing
48.73% ng BOE share
Mouth compan Partly
equities of had holding
the ies from Equity of
Chongqing complet of
Central the Chongqing
BOE 51,216.6 ed the Chongqi 0.00065 24 May
Business purchasi No - BOE
Optoelectr 6 industria ng BOE % 2014
District ng date Technolog
onic l and and met
Develop to the y Co., Ltd.,
Technolog commer with the
ment and end of with the
y Co., Ltd. cial strategy
Investme the announce
registrat layout as
nt Co., reportin ment No.:
ion well as
Ltd. g period 2014-035
change enhanced
was of
procedu the
RMB
res. overall
6800
scale
merit.
The The
equities Compan The net
involved y profit
had all changed contribu
transferr from ted to Announce
ed, and participat the ment on
Chongqin Chongqi ion to listed Purchasing
2.05%
g Liang ng BOE share compan Partly
equities of
Jiang had holding ies from Equity of
Chongqing
New Area complet of the Chongqing
BOE 0.00003 24 May
Develop 2,264.85 ed the Chongqi purchasi No - BOE
Optoelectr % 2014
ment industria ng BOE ng date Technolog
onic
Investme l and and met to the y Co., Ltd.,
Technolog
nt Group commer with the end of with the
y Co., Ltd.
Co., Ltd. cial strategy the announce
registrat layout as reportin ment No.:
ion well as g period 2014-035
change enhanced was of
procedu the RMB
res. overall 6800
scale
26
2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
merit.
2. Sale of assets
□ Applicable √ Inapplicable
3. Business combination
√ Applicable □ Inapplicable
The Company included Chongqing BOE Technology Co., Ltd. into the consolidation scope, which had no influence on the business
continuity and the management stability.
VI. Implementation of equity incentive and its influence
□ Applicable √ Inapplicable
The Company did not make or carry out any equity incentive plan during the reporting period.
VII. Significant related-party transactions
1. Related-party transactions concerning routine operation
□ Applicable √ Inapplicable
There was no any related-party transaction concerning significant routine operation.
2. Related-party transactions arising from acquisition and sale of assets
□ Applicable √ Inapplicable
No related-party transaction arising from acquisition or sale of assets occurred to the Company during the reporting period.
3. Related-party transactions arising from joint investment in external parties
□ Applicable √ Inapplicable
No related-party transaction arising from joint investment in external parties occurred to the Company during the reporting period.
4. Credits and liabilities with related parties
□ Applicable √ Inapplicable
No credit or liability occurred between the Company and significant related parties during the reporting period.
27
2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
5. Other significant related-party transactions
□ Applicable √ Inapplicable
No other significant related-party transaction occurred to the Company during the reporting period.
VIII. Occupation of the Company’s funds for non-operating purposes by the controlling
shareholder and its related parties
□ Applicable √ Inapplicable
The controlling shareholder or its related parties did not occupy the Company’s funds for non-operating purposes during the reporting
period.
IX. Significant contracts and fulfillment thereof
1. Trusteeship, contracting and leasing
(1) Trusteeship
□ Applicable √ Inapplicable
The Company did not make any entrustment in the reporting period.
(2) Contracting
□ Applicable √ Inapplicable
The Company was not involved in any contracting in the reporting period.
(3) Leasing
□ Applicable √ Inapplicable
The Company was not involved in any leasing in the reporting period.
2. Guarantees provided by the Company
√ Applicable □ Inapplicable
Unit: RMB Ten Thousand Yuan
Guarantees provided by the company for external parties (excluding those for subsidiaries)
Disclosure
Guarantee
date on Actual
Actual for a
relevant Amount for occurrence date Type of Period of Executed
Guaranteed party guarantee related
announcement guarantee (date of guarantee guarantee or not
amount party or
of guaranteed agreement)
not
amount
28
2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Guarantees provided by the company for its subsidiaries
Disclosure
Guarantee
date on Actual
Actual for a
relevant Amount for occurrence date Type of Period of Executed
Guaranteed party guarantee related
announcement guarantee (date of guarantee guarantee or not
amount party or
of guaranteed agreement)
not
amount
Erdos Yuansheng
17 Jun. 2013
Photoelectricity Co.,
3 Apr. 2013 450,000 22 May 2013 445,334 Pledge to 9 Jun. No No
Ltd.
2021
Total guarantee line approved for Total actual occurred amount
the subsidiaries during the reporting of guarantee for the
0 0
period subsidiaries during the
(B1) reporting period (B2)
Total guarantee line that has been Total actual guarantee balance
approved for the subsidiaries at the 450,000 for the subsidiaries at the end 445,334
end of the reporting period (B3) of the reporting period (B4)
Total guarantee amount provided by the company (total of the above-mentioned two kinds of guarantees)
Total actual occurred amount
Total guarantee line approved
0 of guarantee during the 0
during the reporting period (A1+B1)
reporting period (A2+B2)
Total guarantee line that has been
Total actual guarantee balance
approved at the end of the reporting
450,000 at the end of the reporting 445,334
period
period (A4+B4)
(A3+B3)
Proportion of total guarantee amount (A4+B4) to the net assets of
5.99%
the Company
Of which:
Amount of guarantees provided for shareholders, actual controller
0
and other related parties (C)
Amount of debt guarantees provided directly or indirectly for
0
parties with asset-liability ratio exceeding 70% (D)
Proportion of total guarantee amount exceeding 50% of the
0
Company’s net assets (E)
Total amount of the above three guarantees (C+D+E) 0
Explanation on possibility of taking several and joint liability
N/A
involving immature guarantees (if any)
Explanation on external guarantees provided by violating N/A
29
2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
regulated procedures(if any)
Explanation on guarantee that adopts complex method
Naught
(1) Illegal provision of guarantees for external parties
□ Applicable √ Inapplicable
The Company did not illegally provide any guarantee for any external party in the reporting period.
3. Other significant contracts
□ Applicable √ Inapplicable
There was no other significant contract of the Company in the reporting period.
4. Other significant transactions
□ Applicable √ Inapplicable
The Company was not involved in any other significant transaction in the reporting period.
X. Commitments made by the Company or any shareholder holding over 5% of the
Company’s shares in the reporting period or such commitments carried down into the
reporting period
√ Applicable □ Inapplicable
Commitment Contents of Date of Period of
Commitment Execution
maker commitment commitment commitment
Commitments of share reform - - - - -
Commitments made in acquisition report
- - - - -
or in report on changes of equity
- - - - -
Beijing Committed
State-owned that the
Capital shares
Operation and acquired from
Management purchasing
Center, Hefei would not be Being
3 Apr. 2014 36 months
Jianxiang transferred performing
Investment from the first
Co., Ltd., date of issuing
Chongqing the newly
Capital increased
Photoelectricity shares of the
30
2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Investment issuer within
Co., Ltd. 36 months
Committed
that the
HuaAn Funds shares
Management acquired from
Co., Ltd. purchasing
Minsheng would not be
Royal Fund transferred Being
3 Apr. 2014 12 months
Management from the first performing
Co., Ltd., Ping date of issuing
An Uob Fund the newly
Management increased
Co., Ltd. shares of the
issuer within
36 months
Commitments made at the time of assets - - - - -
reorganization
Commitments made in the initial public Yes
offering or refinancing
Commitments made by the company to
Inapplicable
other medium and small shareholders
XI. Engagement and disengagement of the CPAs firm
Has the semi-annual financial report been audited?
□ Yes √ No
XII. Punishments and rectifications
□ Applicable √ Inapplicable
No punishment or rectification in the reporting period.
XIII. Delisting risk due to violation of laws or regulations
□ Applicable √ Inapplicable
No such risk in the reporting period.
XIV. Other significant events
√ Applicable □ Inapplicable
1. On 24 Feb. 2014, the Company disclosed the Announcement on Partly of the Directors, Supervisors, Senior Executives and Other
31
2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Core Managers of BOE Technology Group Co., Ltd. Who Planed to Purchase of the Stocks of the Company, and up to 30 Jun. 2014,
partly Directors, Supervisors, Senior Executives and partly of other core managers of the Company had completed the execution by
self-owned funds through second market, of which the details please refer to the Announcement on Partly of the Directors,
Supervisors, Senior Executives and Other Core Managers Completed the Execution of Purchasing the Stocks of the Company on 2
Jul. 2014.
2. On 8 Apr. 2014, the Company disclosed the Issuing Report and Listing Announcement on Non-public Issuing Stocks. The RMB
ordinary shares (A-shares) of 21,768,095,233 in number privately issued by the Company on 4 Apr. 2014 went public on 8 Apr. 2014.
3. On 22 Apr. 2014, the Company disclosed the Repurchase long-term mechanism of BOE Technology Group Co., Ltd. (2014-2016)
as well as the Preplan of Repurchasing Partly of the Social Public Shares by BOE Technology Group Co., Ltd., and the preplan had
reviewed and approved by the 2nd Extraordinary General Meeting in 2014, which was under relevant works such examination and
approval of foreign exchange, declaration of creditors and account opening of special securities as planed.
4. On 24 May 2014, the Company disclosed Announcement on Purchasing Partly of the Equities of Chongqing BOE Optoelectronic
Co., Ltd. by BOE Technology Group Co., Ltd. as well as disclosed the Announcement on the Progress of BOE Technology Group
Co., Ltd. of the Investment Project of Issuing Non-public for Raising Funds on 24 Jul. 2014, and the Company has now finished the
acquisition and holds about 93.17% equities of Chongqing BOE. For the details, please refer to the above announcements.
5. On 29 Jul. 2014, the Company disclosed the Announcement on BOE Technology Co., Ltd. Purchasing Partly of the Equities of
Hefei Xinsheng Optoelectronics technology Co., Ltd., of which the proposal on the Company purchasing partly equities of Hefei
Xinsheng Optoelectronics technology Co., Ltd., had been reviewed and approved by the Y2014 2nd Extraordinary General Meeting of
the Company. Currently, the acquisition is proceeding.
32
2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Section VI. Change in Shares & Shareholders
I. Change in shares
Unit: Share
Before the change Increase/decrease (+, -) After the change
Capitalizati
Item Bonus on of Percentag
Number Percentage New shares Other Subtotal Number
shares capital e
reserve
I. Shares
subject to 21,768,095,2 22,445,032,16 22,445,233,30
201,143 0.00% 0 0 676,936,928 63.60%
trading 33 1 4
moratorium
1.
State-owned 0 0.00% 0 0 0 0 0 0 0.00%
shares
2. Shares
held by 9,920,476,19 10,595,502,99 10,595,502,99
0 0.00% 0 0 675,026,803 30.02%
state-owned 0 3 3
corporations
3. Shares
held by 11,847,619,0 11,849,529,16 11,849,730,31
201,143 0.00% 0 0 1,910,125 33.58%
domestic 43 8 1
investors
Among
which:
11,847,619,0 11,847,619,04 11,847,619,04
shares held 0 0.00% 0 0 0 33.57%
43 3 3
by domestic
legal person
Shares held
by domestic
201,143 0.00% 0 0 0 1,910,125 1,910,125 2,111,268 0.01%
natural
person
4. Shares
held by
0 0.00% 0 0 0 0 0 0 0.00%
foreign
investors
Among 0 0.00% 0 0 0 0 0 0 0.00%
33
2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
which:
shares held
by foreign
legal person
Shares held
by foreign
0 0.00% 0 0 0 0 0 0 0.00%
natural
person
II. Shares
not subject 13,521,341,19 -676,936,92 12,844,404,27
100.00% 0 0 0 -676,936,928 36.40%
to trading 8 8 0
moratorium
1.RMB
12,182,681,19 -676,936,92 11,505,744,27
ordinary 90.10% 0 0 0 -676,936,928 32.60%
8 8 0
shares
2.Domestica
lly listed
1,338,660,000 9.90% 0 0 0 0 0 1,338,660,000 3.79%
foreign
shares
3. Overseas
listed
0 0.00% 0 0 0 0 0 0 0.00%
foreign
shares
4. Others 0 0.00% 0 0 0 0 0 0 0.00%
III. Total 13,521,542,34 21,768,095,2 21,768,095,23 35,289,637,57
100.00% 0 0 0 100.00%
shares 1 33 3 4
Reasons of changes in shares
√ Applicable □ Inapplicable
(1) On 8 Apr. 2014, the non-pubic issued Share A of 21,768,095,233 shares listed on exchanges, and the total shares of the
Company increased from 13,521,542,341 shares to 35,289,637,574.
(2) During the reporting period, the Senior Executives of the Company increased the holding of the Company’ shares, and some
Senior Executives resigned upon expiration of their office terms in Jul. 2013, whose shareholdings were unlocked in Jan. 2014. As
such, the shares subject to trading moratorium increased by 1,910,125 shares.
(3) Hefei Raycom Project Investment Co., Ltd. voluntary committed to lock the whole shares of the Company for 24 months from 9
Jan. 2014, which increased the shares subject to trading moratorium of 675,026,803 shares.
Approval of changes in shares
√ Applicable □ Inapplicable
On 24 Dec. 2013, CSRC approved and issued the Reply on the Approval on the Non-public Issuing Shares of BOE Technology
Group Co., Ltd. (ZJXK [2013] No. 615), which approved the Company to issue the non-public new shares of no more than 22.4
billion. Confirmed by the Shenzhen Branch of CSDC, the non-public shares issued by the Company had normally listed on
exchanges on 8 Apr. 2014, and had totally issued Share A of 21,768,095,233 shares with the totally shares of the Company increased
34
2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
from 13,521,542,341 shares to 35,289,637,574 shares.
Particulars about transferring ownership of shares
□ Applicable √ Inapplicable
Influence of changes in shares on financial indicators of the recent year or the recent term including basic EPS, diluted EPS, net asset
value per share belonging to common stock holders of the Company, etc.
√ Applicable □ Inapplicable
Unit: RMB Yuan
Item Jan.-Dec. 2013 Jan.-Jun. 2014
Basic EPS 0.174 0.050
Diluted EPS 0.174 0.050
Item 31 Dec. 2013 30 Jun. 2014
Net asset value per share attributed to
the common shareholders of the 2.00 2.11
Company
Other contents that the Company thinks it is necessary to disclose or that securities regulatory institutions demand to disclose
□ Applicable √ Inapplicable
Change of the total shares, shareholder structure, asset structure and liability structure
√ Applicable □ Inapplicable
During the reporting period, the Company issued 21,768,095,233 shares of the non-public Share A, and the total shares of the
Company increased from 13,521,542,341 shares to 35,289,637,574 shares. The closing total assets of the Company increased from
the opening RMB 92,538,451,492 to RMB 127,935,205,029, with the liability-to-asset ratio decreased from 58.77% to 40.48%.
II. Total number of shareholders and their shareholdings
Unit: Share
Total number of common 385,963 shareholders (including Total number of preferred share holders who
shareholders at the end of 348,808 A-share holders and 3 had resumed their voting right at the end of 0
the reporting period 7,155 B-share holders) the reporting period (if any)
Shareholdings of shareholders holding more than 5% shares or top 10 shareholders
Number of Pledged or frozen
Increase/decrease
Shareholding shares held at Number of Number of shares
Name of Nature of of shares during
percentage the end of the restricted non-restricted Status
shareholder shareholder the reporting Number of
(%) reporting shares held shares held of
period shares
period shares
Beijing
State-owned
State-owned
Capital 11.51% 4,063,333,333 4,063,333,333 4,063,333,333 0 - 0
Corporation
Management
Center
Chongqing State-owned 8.50% 3,000,000,000 3,000,000,000 3,000,000,000 0 Pledged 955,000,000
35
2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Capital Corporation
Photoelectricity
Investment Co.,
Ltd.
Hefei Jianxiang
State-owned
Investment Co., 8.10% 2,857,142,857 2,857,142,857 2,857,142,857 0 - 0
Corporation
Ltd.
Minsheng Royal
Fund－CMBC
－Ping An Trust
－Ping An
Other 6.75% 2,380,952,380 2,380,952,380 2,380,952,380 0 - 0
Wealth－Huitai
No. 66
Assembled
Funds Trust Plan
Hua An Fund－
HXB－Ping An
Trust－Ping An
Wealth * Huitai Other 6.75% 2,380,952,380 2,380,952,380 2,380,952,380 0 - 0
No. 72
Assembled
Funds Trust
Hua An Fund－
ICBC－
Zhongrong
International
Other 5.40% 1,904,761,904 1,904,761,904 1,904,761,904 0 - 0
Trust－
Zhongrong－RJ
No. 1 Assembled
Funds Trust Plan
BeijingE-TOWN
International
State-owned
Investment & 4.21% 1,484,159,406 0 0 1,484,159,406 - 0
Corporation
Development
Co., Ltd.
Ping An Dahua
Fund－Ping An
Bank－Ping An
Golden Orange Other 4.05% 1,428,571,428 1,428,571,428 1,428,571,428 0 - 0
Wealth No. 31
Asset
Management
36
2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Plan
Ping An Dahua
Fund－Ping An
Bank－Ping An
Golden Orange
Other 4.05% 1,428,571,428 1,428,571,428 1,428,571,428 0 - 0
Wealth No. 34
Asset
Management
Plan
Shenzhen Ping
An New Capital Other 3.37% 1,190,476,190 1,190,476,190 1,190,476,190 0 - 0
Co., Ltd.
On 8 Apr. 2014, the Company issued 21,768,095,233 shares of the non-public Share A, and the
total shares of the Company increased from 13,521,542,341 shares to 35,289,637,574 shares. 9
shareholders of Beijing State-owned Capital Operation and Management Center, Chongqing
Capital Photoelectricity Investment Co., Ltd. and Hefei Jianxiang Investment Co., Ltd. were all
participated in the non-public issuing project and had became the top 10 shareholders of the
Company, with the specific subscription situation as follows:
No. Name of Subscribed Proportion Restricted Expected date of
shareholders shares (share) Stock relieving the
Trade restricted stock
Period trade
(month)
1 Beijing 4,063,333,333 11.51% 36 7 Apr. 2017
State-owned
Strategic investor or general
Capital
corporation becoming a top ten
Operation and
shareholder due to placing of
Management
new shares (if any)
Center
2 Chongqing 3,000,000,000 8.50% 36 7 Apr. 2017
Capital
Photoelectricity
Investment Co.,
Ltd.
3 Hefei Jianxiang 2,857,142,857 8.10% 36 7 Apr. 2017
Investment Co.,
Ltd.
4 Minsheng Royal 2,380,952,380 6.75% 12 7 Apr. 2015
Fund－CMBC－
Ping An Trust－
Ping An Wealth
－Huitai No. 66
37
2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Assembled
Funds Trust Plan
5 Hua An Fund－ 2,380,952,380 6.75% 12 7 Apr. 2015
HXB － Ping An
Trust － Ping An
Wealth ＊ Huitai
No. 72
Assembled
Funds Trust
6 Hua An Fund－ 1,904,761,904 5.40% 12 7 Apr. 2015
ICBC －
Zhongrong
International
Trust －
Zhongrong － RJ
No. 1
Assembled
Funds Trust Plan
7 Ping An Dahua 1,428,571,42 4.05% 12 7 Apr. 2015
Fund－Ping An
Bank － Ping An
Golden Orange
Wealth No. 31
Asset
Management
Plan
8 Ping An Dahua 1,428,571,42 4.05% 12 7 Apr. 2015
Fund－Ping An
Bank － Ping An
Golden Orange
Wealth No. 34
Asset
Management
Plan
9 Shenzhen Ping 1,190,476,190 3.37% 12 7 Apr. 2015
An New Capital
Co., Ltd.
1. When the Company completed private offering of shares in 2010, Beijing E-TOWN
Explanation on associated
International Investment & Development Co., Ltd. transferred all shares directly held to Beijing
relationship or/and persons
BOE Investment & Development Co., Ltd. for management, then BOE Investment acquired the
acting in concert among the
attached rights of the shares attributable to other shareholders in accordance with current effective
above-mentioned shareholders
laws and rules of the Company excluding right of disposition such as transfer, donation, mortgage
38
2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
etc. and usufruct (including claim for profit distribution and claim for retained assets distribution).
2. After the non-public issuing of the Company in 2014, Beijing State-owned Capital Operation
and Management Center handed over its 70% shares to Beijing Electronics Holdings Co., Ltd. for
management through Stock Management Protocol, and Beijing Electronics Holdings Co., Ltd.
gained the incidental shareholders’ rights except for disposing right and usufruct of the shares, of
which the rest 30% voting right maintained unanimous with Beijing Electronics Holdings Co., Ltd.
through the agreement according to Implementation Protocol of Voting Right; Beijing Electronics
Holdings Co., Ltd. held 66.25% equities of Beijing BOE Investment Development Co., Ltd. and
was its controlling shareholder.
3. Except for relationship among the above shareholders, the Company is not aware of whether the
other top ten shareholders exist associated relationship or not, or they are persons acting in concert
or not.
Shareholdings of the top ten shareholders holding non-restricted shares
Type of share
Name of shareholder Number of non-restricted shares held at the period-end
Type Number
Beijing E-TOWN International RMB
Investment & Development Co., 1,484,159,406 ordinary 1,484,159,406
Ltd. shares
RMB
Beijing BOE Investment &
860,981,080 ordinary 860,981,080
Development Co., Ltd.
shares
RMB
Beijing Economic-Technological
847,650,000 ordinary 847,650,000
Investment & Development Corp.
shares
RMB
Hefei Rongke Project Investment
600,000,000 ordinary 600,000,000
Co., Ltd.
shares
RMB
Beijing BDA Technological
275,303,883 ordinary 275,303,883
Investment Development Co., Ltd.
shares
RMB
Beijing Electronics Holdings Co.,
274,848,276 ordinary 274,848,276
Ltd.
shares
RMB
Hefei Xincheng State-Owned
122,369,283 ordinary 122,369,283
Assets Management Co., Ltd.
shares
RMB
Hefei Lan Ke Investment Co., Ltd. 111,600,000 ordinary 111,600,000
shares
39
2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
RMB
Sinotrans Air Transportation
105,335,839 ordinary 105,335,839
Development Co., Ltd.
shares
RMB
CSOP Asset Management Limited
87,478,200 ordinary 87,478,200
－CSOP A50 ETF
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 as transfer, donation, mortgage
etc. and usufruct (including claim for profit distribution and claim for retained assets
distribution).
3. BEIJING ECONOMIC-TECHNOLOGICAL INVESTMENT & DEVELOPMENT CORP.
Explanation on associated holds 49% shares of BEIJING BDA TECHNOLOGICAL INVESTMENT DEVELOPMENT
relationship or/and persons acting CO., LTD. Both of them are under the control of the Administration Committee of Beijing
in concert among the top ten Economic and Technological Development Zone, which makes them parties acting in concert.
tradable shareholders and between 4. After the non-public issuing of the Company in 2014, Hefei Jianxiang Investment Co., Ltd. and
the top ten tradable shareholders Chongqing Capital Photoelectricity Investment Co., Ltd. maintained unanimous with the
and the top ten shareholders intention of Beijing BOE Investment Development Co., Ltd. when executing the voting right of
the whole shares through the agreement according to Implementation Protocol of Voting Right.
5. After the non-public issuing of the Company in 2014, Beijing State-owned Capital Operation
and Management Center handed over its 70% shares to Beijing Electronics Holdings Co., Ltd. for
management through Stock Management Protocol, and Beijing Electronics Holdings Co., Ltd.
gained the incidental shareholders’ rights except for disposing right and usufruct of the shares, of
which the rest 30% voting right maintained unanimous with Beijing Electronics Holdings Co.,
Ltd. through the agreement according to Implementation Protocol of Voting Right
6. Except for relationship among the above shareholders, the Company is not aware of whether
the other top ten shareholders exist associated relationship or not, or they are persons acting in
concert or not.
Explanation on the top 10
shareholders participating in the
Naught
margin trading business (if any)
Did any shareholder of the Company carry out an agreed buy-back in the reporting period?
□ Yes √ No
No shareholder of the Company carried out any agreed buy-back in the reporting period.
40
2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
III. Change of the controlling shareholder or the actual controller
Change of the controlling shareholder in the reporting period
□ Applicable √ Inapplicable
The controlling shareholder of the Company did not change in the reporting period.
Change of the actual controller in the reporting period
□ Applicable √ Inapplicable
The actual controller of the Company did not change in the reporting period.
IV. Any shareholding increase plan proposed or implemented by any shareholder or its
act-in-concert party during the reporting period
□ Applicable √ Inapplicable
To the best knowledge of the Company, no shareholder or its act-in-concert party proposed or implemented any shareholding increase
plan during the reporting period.
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Section VII. Directors, Supervisors & Senior Management Staff
I. Change of shareholdings of directors, supervisors and senior management staff
√ Applicable □ Inapplicable
Restricte Restricted
Shareholdin Shareholdin
d shares shares Restricted
Shareholdin g increase g decrease Shareholdin
held at granted shares held
Current/ g at the during the during the g at the
Name Position the during this at the
former period-begin reporting reporting period-end
period- reporting period-
(share) period period (share)
begin period end (share)
(share) (share)
(share) (share)
Chairman of the
Wang Board and Chief of
Current 29,905 270,000 0 299,905 0 0 0
Dongsheng Execution
Committee
Wu Vice Chairman of
Current 0 0 0 0 0 0 0
Wenxue the Board
Chen Executive Director,
Current 0 260,000 0 260,000 0 0 0
Yanshun President
Wang Jing Director Current 0 0 0 0 0 0 0
Xie
Director Current 7,680 0 0 7,680 0 0 0
Xiaoming
Director, Executive
Liu
Vice President, Current 0 250,000 0 250,000 0 0 0
Xiaodong
COO
Director,
Wang
Executive Vice Current 0 250,000 0 250,000 0 0 0
Jiaheng
President, COO
Song Jie Director Current 0 0 0 0 0 0 0
Geng Independent
Current 0 0 0 0 0 0 0
Jianxin Director
Independent
Ji Guoping Current 0 0 0 0 0 0 0
Director
Independent
Yu Ning Current 0 0 0 0 0 0 0
Director
Independent
Lv Tingjie Current 0 0 0 0 0 0 0
Director
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Zhang Supervisory Board
Current 0 0 0 0 0 0 0
Jingsong Chairman
Xu Tao Supervisor Current 0 0 0 0 0 0 0
Mu
Supervisor Current 2,991 0 0 2,991 0 0 0
Chengyuan
Zhao Wei Supervisor Current 0 0 0 0 0 0 0
Zhang
Supervisor Current 0 0 0 0 0 0 0
Chunming
Zhuang
Supervisor Current 0 0 0 0 0 0 0
Haoyu
Zhong Employee
Current 0 150,000 0 150,000 0 0 0
Huifeng Supervisor
Zhou Employee
Current 0 0 0 0 0 0 0
Yanwen Supervisor
Xu Employee
Current 0 0 0 0 0 0 0
Yangping Supervisor
Executive Vice
Song Ying Current 29,905 200,000 0 229,905 0 0 0
President, CHO
Wang Executive Vice
Current 11,962 200,000 0 211,962 0 0 0
Yanjun President
Dong Senior Vice
Current 0 200,000 0 200,000 0 0 0
Youmei President, CTO
Senior Vice
Sun Yun Current 5,981 150,000 0 155,981 0 0 0
President, CFO
Li Senior Vice
Current 0 186,600 0 186,600 0 0 0
Xuezheng President, CMO
Yue Senior Vice
Current 0 150,000 0 150,000 0 0 0
Zhanqiu President
Senior Vice
Feng
President, Chief Current 0 150,000 0 150,000 0 0 0
Liqiong
Counsel
Vice President,
Xie Chief Risk Control
Current 0 110,000 0 110,000 0 0 0
Zhongdong Officer, Chief
Auditor
Yao
Vice President, CSO Current 0 100,000 0 100,000 0 0 0
Xiangjun
Liu Vice President,
Current 0 100,000 0 100,000 0 0 0
Hongfeng Secretary of Board
43
2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
of Directors
Ouyang Independent
Former 0 0 0 0 0 0 0
Zhongcan Director
Total -- -- 88,424 2,726,600 0 2,815,024 0 0 0
II. Change of directors, supervisors and senior management staff
√ Applicable □ Inapplicable
Name Position Type Date Reason
Wang Jing Director Elected 30 May 2014 Co-opted
Independent
Lv Tingjie Elected 30 May 2014 By-election
Director
Ouyang Independent Left as the term
30 May 2014 Left as the term expired
Zhongcan Director expired
44
2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Section VIII. Financial Report
I. Audit report
Has this semi-annual report been audited?
□ Yes √ No
The semi-annual financial report has not been audited.
II. Financial statements
Currency unit for the statements in the notes to these financial statements: RMB Yuan
1. Consolidated balance sheet
Prepared by BOE Technology Group Co., Ltd.
Unit: RMB Yuan
Item Closing balance Opening balance
Current Assets:
Monetary funds 44,591,345,895.00 20,464,553,422.00
Settlement reserves 0.00 0.00
Intra-group lendings 0.00 0.00
Transactional financial assets 0.00 0.00
Notes receivable 441,895,086.00 565,423,076.00
Accounts receivable 5,122,439,581.00 4,855,938,522.00
Accounts paid in advance 223,122,002.00 141,404,773.00
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Premiums receivable 0.00 0.00
Reinsurance premiums receivable 0.00 0.00
Receivable reinsurance contract reserves 0.00 0.00
Interest receivable 211,529,571.00 109,045,546.00
Dividend receivable 0.00 0.00
Other accounts receivable 573,638,739.00 618,124,736.00
Financial assets purchased under agreements to resell 0.00 0.00
Inventories 3,587,133,465.00 3,018,804,659.00
Non-current assets due within 1 year 0.00 0.00
Other current assets 2,760,053,570.00 1,872,804,826.00
Total current assets 57,511,157,909.00 31,646,099,560.00
Non-current assets:
Loans by mandate and advances granted 0.00 0.00
Available-for-sale financial assets 226,073,866.00 254,506,569.00
Held-to-maturity investments 0.00 0.00
Long-term accounts receivable 0.00 0.00
Long-term equity investment 988,203,148.00 989,848,083.00
Investing property 1,279,438,548.00 1,284,415,937.00
Fixed assets 32,589,747,763.00 32,495,665,045.00
Construction in progress 31,877,217,133.00 22,172,949,652.00
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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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Oil-gas assets 0.00 0.00
Intangible assets 2,156,864,047.00 2,025,945,856.00
R&D expense 0.00 0.00
Goodwill 51,502,898.00 51,502,898.00
Long-term deferred expenses 250,145,319.00 242,814,121.00
Deferred income tax assets 150,708,239.00 160,480,672.00
Other non-current assets 854,146,159.00 1,214,223,099.00
Total of non-current assets 70,424,047,120.00 60,892,351,932.00
Total assets 127,935,205,029.00 92,538,451,492.00
Current liabilities:
Short-term borrowings 3,275,833,980.00 12,122,769,840.00
Borrowings from Central Bank 0.00 0.00
Customer bank deposits and due to banks and other
0.00 0.00
financial institutions
Intra-group borrowings 0.00 0.00
Transactional financial liabilities 0.00 0.00
Notes payable 390,854,698.00 135,654,664.00
Accounts payable 5,566,571,822.00 5,667,182,852.00
Accounts received in advance 273,950,001.00 281,618,909.00
Financial assets sold for repurchase 0.00 0.00
Handling charges and commissions payable 0.00 0.00
Employee’s compensation payable 766,545,400.00 845,898,437.00
Tax payable 163,315,283.00 190,205,223.00
Interest payable 269,081,089.00 314,004,348.00
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Dividend payable 8,051,170.00 8,051,170.00
Other accounts payable 6,824,411,233.00 6,062,245,439.00
Reinsurance premiums payable 0.00 0.00
Insurance contract reserves 0.00 0.00
Payables for acting trading of securities 0.00 0.00
Payables for acting underwriting of securities 0.00 0.00
Non-current liabilities due within 1 year 75,152,800.00 308,628,826.00
Other current liabilities 315,921,887.00 255,465,666.00
Total current liabilities 17,929,689,363.00 26,191,725,374.00
Non-current liabilities:
Long-term borrowings 26,363,575,078.00 20,995,628,956.00
Bonds payable 0.00 0.00
Long-term payables 0.00 0.00
Specific payables 0.00 0.00
Estimated liabilities 16,457,010.00 16,457,010.00
Deferred income tax liabilities 385,845,850.00 382,048,433.00
Other non-current liabilities 7,090,627,512.00 6,798,328,315.00
Total non-current liabilities 33,856,505,450.00 28,192,462,714.00
Total liabilities 51,786,194,813.00 54,384,188,088.00
Owners’ equity (or shareholders’ equity)
Paid-up capital (or share capital) 35,289,637,574.00 13,521,542,341.00
Capital reserves 38,702,221,956.00 15,407,622,455.00
Less: Treasury stock 0.00 0.00
48
2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
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 -81,171,194.00 -1,122,806,908.00
Foreign exchange difference -52,347,793.00 -53,635,140.00
Total equity attributable to owners of the Company 74,357,433,156.00 28,251,815,361.00
Minority interests 1,791,577,060.00 9,902,448,043.00
Total owners’ (or shareholders’) equity 76,149,010,216.00 38,154,263,404.00
Total liabilities and owners’ (or shareholders’) equity 127,935,205,029.00 92,538,451,492.00
Legal representative: Mr. Wang Dongsheng President of the Company: Mr. Chen Yanshun
Person-in-charge of the accounting work: Ms. Sun Yun Chief of the accounting division: Ms. Yang Xiaoping
2. Balance sheet of the Company
Prepared by BOE Technology Group Co., Ltd.
Unit: RMB Yuan
Item Closing balance Opening balance
Current Assets:
Monetary funds 13,352,360,143.00 1,712,111,176.00
Transactional financial assets 0.00 0.00
Notes receivable 250,000.00 878,816.00
Accounts receivable 60,930,784.00 58,956,394.00
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Accounts paid in advance 14,521,941.00 11,340,225.00
Interest receivable 65,055,920.00 8,270,202.00
Dividend receivable 8,204,147.00 8,204,147.00
Other accounts receivable 302,269,544.00 508,906,713.00
Inventories 4,119,704.00 3,620,138.00
Non-current assets due within 1 year 0.00 0.00
Other current assets 78,612,628.00 66,790,488.00
Total current assets 13,886,324,811.00 2,379,078,299.00
Non-current assets:
Available-for-sale financial assets 123,881,371.00 145,924,019.00
Held-to-maturity investments 0.00 0.00
Long-term accounts receivable 0.00 0.00
Long-term equity investment 63,563,904,601.00 36,197,880,338.00
Investing property 177,498,697.00 162,436,740.00
Fixed assets 363,111,621.00 374,290,680.00
Construction in progress 325,789,689.00 270,846,366.00
Engineering materials 0.00 0.00
Disposal of fixed assets 0.00 0.00
Production biological assets 0.00 0.00
Oil-gas assets 0.00 0.00
Intangible assets 461,339,494.00 488,384,056.00
R&D expense 0.00 0.00
Goodwill 0.00 0.00
50
2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Long-term deferred expenses 2,425,308.00 2,765,222.00
Deferred income tax assets 0.00 0.00
Other non-current assets 4,479,379.00 7,466,369.00
Total of non-current assets 65,022,430,160.00 37,649,993,790.00
Total assets 78,908,754,971.00 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 24,728,193.00 29,441,014.00
Accounts received in advance 1,128,774.00 2,163,584.00
Employee’s compensation payable 80,502,213.00 132,366,527.00
Tax payable 32,805,873.00 11,962,775.00
Interest payable 83,783,333.00 213,283,333.00
Dividend payable 6,451,171.00 6,451,170.00
Other accounts payable 5,291,523,573.00 5,131,239,943.00
Non-current liabilities due within 1 year 50,000,000.00 50,000,000.00
Other current liabilities 0.00 0.00
Total current liabilities 5,570,923,130.00 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
51
2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Specific payables 0.00 0.00
Estimated liabilities 0.00 0.00
Deferred income tax liabilities 0.00 0.00
Other non-current liabilities 70,089,869.00 75,118,764.00
Total non-current liabilities 70,089,869.00 75,118,764.00
Total liabilities 5,641,012,999.00 11,652,027,110.00
Owners’ equity (or shareholders’ equity)
Paid-up capital (or share capital) 35,289,637,574.00 13,521,542,341.00
Capital reserves 38,260,365,804.00 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 -781,354,019.00 -809,388,608.00
Foreign exchange difference 0.00 0.00
Total owners’ (or shareholders’) equity 73,267,741,972.00 28,377,044,979.00
Total liabilities and owners’ (or shareholders’) equity 78,908,754,971.00 40,029,072,089.00
Legal representative: Mr. Wang Dongsheng President of the Company: Mr. Chen Yanshun
Person-in-charge of the accounting work: Ms. Sun Yun Chief of the accounting division: Ms. Yang Xiaoping
3. Consolidated income statement
Prepared by BOE Technology Group Co., Ltd.
Unit: RMB Yuan
52
2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Item Reporting period Same period of last year
I. Total operating revenues 16,113,171,584.00 16,254,326,067.00
Including: Sales income 16,113,171,584.00 16,254,326,067.00
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 15,340,525,002.00 15,206,525,353.00
Including: Cost of sales 12,630,118,473.00 12,461,334,555.00
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
Reinsurance premium 0.00 0.00
Taxes and associate charges 37,970,365.00 65,939,290.00
Selling and distribution expenses 481,663,833.00 516,250,043.00
Administrative expenses 1,698,855,995.00 1,449,893,803.00
Financial expenses 106,739,572.00 193,412,657.00
Asset impairment loss 385,176,764.00 519,695,005.00
Add: Gain/(loss) from change in fair value (“-” means loss) 0.00 0.00
Gain/(loss) from investment (“-” means loss) 6,924,389.00 1,624,989.00
Including: share of profits in associates and joint ventures 4,390,960.00 -545,119.00
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Foreign exchange gains (“-” means loss) 0.00 0.00
III. Business profit (“-” means loss) 779,570,971.00 1,049,425,703.00
Add: non-operating income 548,360,205.00 205,996,429.00
Less: non-operating expense 9,012,209.00 66,850,527.00
Including: loss from non-current asset disposal 2,964,174.00 64,092,449.00
IV. Total profit (“-” means loss) 1,318,918,967.00 1,188,571,605.00
Less: Income tax expense 156,020,200.00 23,290,836.00
V. Net profit (“-” means loss) 1,162,898,767.00 1,165,280,769.00
Including: Net profit achieved by combined parties
0.00 0.00
before the combinations
Attributable to owners of the Company 1,041,635,714.00 859,288,893.00
Minority shareholders’ income 121,263,053.00 305,991,876.00
VI. Earnings per share -- --
(I) Basic earnings per share 0.050 0.064
(II) Diluted earnings per share 0.050 0.064
VII. Other comprehensive incomes -27,145,356.00 9,520,272.00
VIII. Total comprehensive incomes 1,135,753,411.00 1,174,801,041.00
Attributable to owners of the Company 1,014,490,358.00 868,809,165.00
Attributable to minority shareholders 121,263,053.00 305,991,876.00
Legal representative: Mr. Wang Dongsheng President of the Company: Mr. Chen Yanshun
Person-in-charge of the accounting work: Ms. Sun Yun Chief of the accounting division: Ms. Yang Xiaoping
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
4. Income statement of the Company
Prepared by BOE Technology Group Co., Ltd.
Unit: RMB Yuan
Item Reporting period Same period of last year
I. Total sales 394,606,138.00 222,130,321.00
Less: cost of sales 56,752,883.00 56,605,491.00
Business taxes and surcharges 3,096,694.00 5,000,399.00
Distribution expenses 1,132,622.00 1,483,100.00
Administrative expenses 354,310,649.00 280,192,364.00
Financial costs -28,061,118.00 -552,914.00
Impairment loss 0.00 -34,499.00
Add: gain/(loss) from change in fair value (“-” means loss) 0.00 0.00
Gain/(loss) from investment (“-” means loss) 6,582,590.00 1,624,989.00
Including: income form investment on associates and joint
4,049,161.00 -545,119.00
ventures
II. Business profit (“-” means loss) 13,956,998.00 -118,938,631.00
Add: non-business income 14,162,919.00 12,888,424.00
Less: non-business expense 85,328.00 12,980.00
Including: loss from non-current asset disposal 1,935.00 10,180.00
III. Total profit (“-” means loss) 28,034,589.00 -106,063,187.00
Less: income tax expense 0.00 0.00
IV. Net profit (“-” means loss) 28,034,589.00 -106,063,187.00
V. Earnings per share -- --
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
(I) Basic earnings per share 0.001 -0.0078
(II) Diluted earnings per share 0.001 -0.0078
VI. Other comprehensive income -22,042,649.00 9,951,770.00
VII. Total comprehensive income 5,991,940.00 -96,111,417.00
Legal representative: Mr. Wang Dongsheng President of the Company: Mr. Chen Yanshun
Person-in-charge of the accounting work: Ms. Sun Yun Chief of the accounting division: Ms. Yang Xiaoping
5. Consolidated cash flow statement
Prepared by BOE Technology Group Co., Ltd.
Unit: RMB Yuan
Item Reporting period Same period of last year
I. Cash flows from operating activities:
Cash received from sale of commodities and rendering 17,820,222,805.00 14,931,452,858.00
of 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 0.00 0.00
investment fund
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
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 696,134,294.00 910,989,260.00
Other cash received relating to operating activities 678,900,597.00 233,307,610.00
Subtotal of cash inflows from operating activities 19,195,257,696.00 16,075,749,728.00
Cash paid for goods and services 12,914,791,942.00 9,599,582,069.00
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
0.00 0.00
contracts
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 1,823,070,067.00 1,388,434,186.00
Various taxes paid 421,384,320.00 660,484,495.00
Other cash payment relating to operating activities 782,370,865.00 699,359,617.00
Subtotal of cash outflows from operating activities 15,941,617,194.00 12,347,860,367.00
Net cash flows from operating activities 3,253,640,502.00 3,727,889,361.00
II. Cash flows from investing activities:
Cash received from withdrawal of investments 0.00 0.00
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Cash received from return on investments 3,411,262.00 2,170,108.00
Net cash received from disposal of fixed assets,
363,662.00 172,514.00
intangible assets and other long-term assets
Net cash received from disposal of subsidiaries or
0.00 0.00
other business units
Other cash received relating to investing activities 402,699,692.00 848,472,428.00
Subtotal of cash inflows from investing activities 406,474,616.00 850,815,050.00
Cash paid to acquire fixed assets, intangible assets and
9,255,316,417.00 8,327,919,358.00
other long-term assets
Cash paid for investment 6,000,461.00 33,633,862.00
Net increase of pledged loans 0.00 0.00
Net cash paid to acquire subsidiaries and other
534,815,100.00 0.00
business units
Other cash payments relating to investing activities 16,591,152.00 1,915,723.00
Subtotal of cash outflows from investing activities 9,812,723,130.00 8,363,468,943.00
Net cash flows from investing activities -9,406,248,514.00 -7,512,653,893.00
III. Cash Flows from Financing Activities:
Cash received from capital contributions 30,752,700,690.00 35,042,000.00
Including: Cash received from minority shareholder
0.00 0.00
investments by subsidiaries
Cash received from borrowings 12,045,540,367.00 14,933,910,972.00
Cash received from issuance of bonds 0.00 0.00
Other cash received relating to financing activities 48,165,983.00 104,956.00
Subtotal of cash inflows from financing activities 42,846,407,040.00 14,969,057,928.00
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Repayment of borrowings 10,518,896,513.00 1,559,865,258.00
Cash paid for interest expenses and distribution of
755,323,762.00 498,345,823.00
dividends or profit
Including: dividends or profit paid by subsidiaries to
0.00 0.00
minority shareholders
Other cash payments relating to financing activities 968,166,397.00 158,694,715.00
Sub-total of cash outflows from financing activities 12,242,386,672.00 2,216,905,796.00
Net cash flows from financing activities 30,604,020,368.00 12,752,152,132.00
IV. Effect of foreign exchange rate changes on cash and
43,545,868.00 -113,132,965.00
cash equivalents
V. Net increase in cash and cash equivalents 24,494,958,224.00 8,854,254,635.00
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 40,969,934,073.00 22,410,741,327.00
Legal representative: Mr. Wang Dongsheng President of the Company: Mr. Chen Yanshun
Person-in-charge of the accounting work: Ms. Sun Yun Chief of the accounting division: Ms. Yang Xiaoping
6. Cash flow statement of the Company
Prepared by BOE Technology Group Co., Ltd.
Unit: RMB Yuan
Item Reporting period Same period of last year
I. Cash flows from operating activities:
Cash received from sale of commodities and rendering
73,929,641.00 68,985,759.00
of service
Tax refunds received 698,357.00 0.00
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Other cash received relating to operating activities 691,284,156.00 990,049,207.00
Subtotal of cash inflows from operating activities 765,912,154.00 1,059,034,966.00
Cash paid for goods and services 101,533,737.00 87,554,037.00
Cash paid to and for employees 213,401,635.00 159,879,247.00
Various taxes paid 21,738,682.00 13,165,257.00
Other cash payment relating to operating activities 209,045,481.00 506,269,881.00
Subtotal of cash outflows from operating activities 545,719,535.00 766,868,422.00
Net cash flows from operating activities 220,192,619.00 292,166,544.00
II. Cash flows from investing activities:
Cash received from retraction of investments 0.00 0.00
Cash received from return on investments 3,373,429.00 2,170,108.00
Net cash received from disposal of fixed assets,
67,400.00 36,500.00
intangible 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 15,236,429.00 20,958,901.00
Subtotal of cash inflows from investing activities 18,677,258.00 23,165,509.00
Cash paid to acquire fixed assets, intangible assets and
66,256,870.00 181,426,307.00
other long-term assets
Cash paid for investment 12,001,000,461.00 968,340,512.00
Net cash paid to acquire subsidiaries and other business
6,834,815,100.00 4,100,000,000.00
units
Other cash payments relating to investing activities 93,996.00 0.00
Subtotal of cash outflows from investing activities 18,902,166,427.00 5,249,766,819.00
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Net cash flows from investing activities -18,883,489,169.00 -5,226,601,310.00
III. Cash Flows from Financing Activities:
Cash received from capital contributions 30,752,700,690.00 0.00
Cash received from borrowings 0.00 4,100,000,000.00
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 4,100,000,000.00
Repayment of borrowings 0.00 0.00
Cash paid for interest expenses and distribution of
215,500,000.00 0.00
dividends or profit
Other cash payments relating to financing activities 236,267,369.00 0.00
Sub-total of cash outflows from financing activities 451,767,369.00 0.00
Net cash flows from financing activities 30,300,933,321.00 4,100,000,000.00
IV. Effect of foreign exchange rate changes on cash and
16,425.00 -2,357.00
cash equivalents
V. Net increase in cash and cash equivalents 11,637,653,196.00 -834,437,123.00
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 13,340,123,956.00 1,429,882,481.00
Legal representative: Mr. Wang Dongsheng President of the Company: Mr. Chen Yanshun
Person-in-charge of the accounting work: Ms. Sun Yun Chief of the accounting division: Ms. Yang Xiaoping
7. Consolidated Statement of Changes in Owners’ Equity
Prepared by BOE Technology Group Co., Ltd.
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Jan.-Jun. 2014
Unit: RMB Yuan
Reporting period
Equity attributable to owners of the Company
Item
Less: General
Paid-up capital (or Specific Minority interests Total owners’ equity
Capital reserve treasury Surplus reserve risk Retained profit Others
share capital) reserve
stock reserve
I. Balance at the
end of the 13,521,542,341.00 15,407,622,455.00 0.00 0.00 499,092,613.00 0.00 -1,122,806,908.00 -53,635,140.00 9,902,448,043.00 38,154,263,404.00
previous year
Add: change
of accounting 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
policy
Correction of
errors in 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
previous periods
Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
II. Balance at the
beginning of the 13,521,542,341.00 15,407,622,455.00 0.00 0.00 499,092,613.00 0.00 -1,122,806,908.00 -53,635,140.00 9,902,448,043.00 38,154,263,404.00
year
III. Increase/
decrease in the
period (“-” 21,768,095,233.00 23,294,599,501.00 0.00 0.00 0.00 0.00 1,041,635,714.00 1,287,347.00 -8,110,870,983 .00 37,994,746,812.00
means
decrease)
(I) Net
0.00 0.00 0.00 0.00 0.00 0.00 1,041,635,714.00 0.00 121,263,053.00 1,162,898,767.00
profit
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
(II) Other
comprehensive 0.00 -28,432,703.00 0.00 0.00 0.00 0.00 0.00 1,287,347.00 0.00 -27,145,356.00
incomes
Subtotal of
0.00 -28,432,703.00 0.00 0.00 0.00 0.00 1,041,635,714.00 1,287,347.00 121,263,053.00 1,135,753,411.00
(I) and (II)
(III) Capital
paid in and
21,768,095,233.00 23,323,032,204.00 0.00 0.00 0.00 0.00 0.00 0.00 -8,232,134,036.00 36,858,993,401.00
reduced by
owners
1. Capital
paid in by 21,768,095,233.00 23,116,609,820.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 44,884,705,053.00
owners
2.
Amounts of
share-based
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
payments
recognized in
owners’ equity
3. Others 0.00 206,422,384.00 0.00 0.00 0.00 0.00 0.00 0.00 -8,232,134,036.00 -8,025,711,652.00
(IV) Profit
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
distribution
1.
Appropriations
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
to surplus
reserves
2.
Appropriations 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
to general risk
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
provisions
3.
Appropriations
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
to owners (or
shareholders)
4. Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
(V) Internal
carry-forward of 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
owners’ equity
1. New
increase of
capital (or share
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
capital) from
capital public
reserves
2. New
increase of
capital (or share 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
capital) from
surplus reserves
3. Surplus
reserves for 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
making up losses
4. Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
(VI) Specific
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
reserve
1.
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Withdrawn for
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
the period
2. Used in
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
the period
(VII) Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
IV. Closing 35,289,637,574.00 38,702,221,956.00 0.00 0.00 499,092,613.00 0.00 -81,171,194.00 -52,347,793.00 1,791,577,060.00 76,149,010,216.00
balance
Last year
Unit: RMB Yuan
Last year
Equity attributable to owners of the Company
Item Less: General Minority Total owners’
Paid-up capital (or Specific
Capital reserve treasury Surplus reserve risk Retained profit Others interests equity
share capital) reserve
stock reserve
I. Balance at the end of the previous
13,521,542,341.00 15,344,798,225.00 0.00 0.00 499,092,613.00 0.00 -3,476,172,602.00 -2,300,927.00 9,377,854,802.00 35,264,814,452.00
year
Add: retrospective adjustment due
to business combination under the 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
same control
Add: change of accounting policy 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Correction of errors in previous
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
periods
Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
II. Balance at the beginning of the
13,521,542,341.00 15,344,798,225.00 0.00 0.00 499,092,613.00 0.00 -3,476,172,602.00 -2,300,927.00 9,377,854,802.00 35,264,814,452.00
year
III. Increase/ decrease in the period
0.00 62,824,230.00 0.00 0.00 0.00 0.00 2,353,365,694.00 -51,334,213.00 524,593,241.00 2,889,448,952.00
(“-” means decrease)
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
(I) Net profit 0.00 0.00 0.00 0.00 0.00 0.00 2,353,365,694.00 0.00 618,763,497.00 2,972,129,191.00
(II) Other comprehensive incomes 0.00 17,821,494.00 0.00 0.00 0.00 0.00 0.00 -51,334,213.00 0.00 -33,512,719.00
Subtotal of (I) and (II) 0.00 17,821,494.00 0.00 0.00 0.00 0.00 2,353,365,694.00 -51,334,213.00 618,763,497.00 2,938,616,472.00
(III) Capital paid in and reduced by
0.00 45,002,736.00 0.00 0.00 0.00 0.00 0.00 0.00 -94,170,256.00 -49,167,520.00
owners
1. Capital paid in by owners 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 14,351,281.00 14,351,281.00
2. Amounts of share-based
payments recognized in owners’ 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
equity
3. Others 0.00 45,002,736.00 0.00 0.00 0.00 0.00 0.00 0.00 -108,521,537.00 -63,518,801.00
(IV) Profit distribution 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
1. Appropriations to surplus
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
reserves
2. New increase of capital (or
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
share capital) from surplus reserves
3. Surplus reserves for making up
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
losses
4. Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
(V) Internal carry-forward of owners’
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
equity
1. New increase of capital (or
share capital) from capital public 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
reserves
2. New increase of capital (or
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
share capital) from surplus reserves
3. Surplus reserves for making up 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
losses
4. Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
(VI) Specific reserve 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
1. Withdrawn for the period 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
2. Used in the period 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
(VII) Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
IV. Closing balance 13,521,542,341.00 15,407,622,455.00 0.00 0.00 499,092,613.00 0.00 -1,122,806,908.00 -53,635,140.00 9,902,448,043.00 38,154,263,404.00
Legal representative: Mr. Wang Dongsheng President of the Company: Mr. Chen Yanshun
Person-in-charge of the accounting work: Ms. Sun Yun Chief of the accounting division: Ms. Yang Xiaoping
8. Statement of changes in owners’ equity of the Company
Prepared by BOE Technology Group Co., Ltd.
Jan.-Jun. 2014
Unit: RMB Yuan
Reporting period
Less:
Item Paid-up capital (or Specific General risk
Capital reserve treasury Surplus reserve Retained profit Total owners’ equity
share capital) reserve reserve
stock
I. Balance at the end of the previous year 13,521,542,341.00 15,165,798,633.00 0.00 0.00 499,092,613.00 0.00 -809,388,608.00 28,377,044,979.00
Add: change of accounting policy 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Correction of errors in previous periods 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
II. Balance at the beginning of the year 13,521,542,341.00 15,165,798,633.00 0.00 0.00 499,092,613.00 0.00 -809,388,608.00 28,377,044,979.00
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
III. Increase/ decrease in the period (“-” 21,768,095,233.00 23,094,567,171.00 0.00 0.00 0.00 0.00 28,034,589.00 44,890,696,993.00
means decrease)
(I) Net profit 0.00 0.00 0.00 0.00 0.00 0.00 28,034,589.00 28,034,589.00
(II) Other comprehensive incomes 0.00 -22,042,649.00 0.00 0.00 0.00 0.00 0.00 -22,042,649.00
Subtotal of (I) and (II) 0.00 -22,042,649.00 0.00 0.00 0.00 0.00 28,034,589.00 5,991,940.00
(III) Capital paid in and reduced by 21,768,095,233.00 23,116,609,820.00 0.00 0.00 0.00 0.00 0.00 44,884,705,053.00
owners
1. Capital paid in by owners 21,768,095,233.00 23,116,609,820.00 0.00 0.00 0.00 0.00 0.00 44,884,705,053.00
2. Amounts of share-based payments
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
recognized in owners’ equity
3. Others 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
(IV) Profit distribution 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
1. Appropriations to surplus reserves 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
2. Appropriations to general risk
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
provisions
3. Appropriations to owners (or
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
shareholders)
4. Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
(V) Internal carry-forward of owners’
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
equity
1. New increase of capital (or share
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
capital) from capital public reserves
2. New increase of capital (or share
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
capital) from surplus reserves
3. Surplus reserves for making up 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
losses
4. Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
(VI) Specific reserve 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
1. Withdrawn for the period 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
2. Used in the period 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
(VII) Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
IV. Closing balance 35,289,637,574.00 38,260,365,804.00 0.00 0.00 499,092,613.00 0.00 -781,354,019.00 73,267,741,972.00
Last year
Unit: RMB Yuan
Last year
Item Paid-up capital (or Less: treasury General risk Total owners’
Capital reserve Specific reserve Surplus reserve Retained profit
share capital) stock reserve equity
I. Balance at the end of the previous year 13,521,542,341.00 15,136,475,314.00 0.00 0.00 499,092,613.00 0.00 -636,204,663.00 28,520,905,605.00
Add: change of accounting policy 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Correction of errors in previous periods 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
II. Balance at the beginning of the year 13,521,542,341.00 15,136,475,314.00 0.00 0.00 499,092,613.00 0.00 -636,204,663.00 28,520,905,605.00
III. Increase/ decrease in the period (“-” means
0.00 29,323,319.00 0.00 0.00 0.00 0.00 -173,183,945.00 -143,860,626.00
decrease)
(I) Net profit 0.00 0.00 0.00 0.00 0.00 0.00 -173,183,945.00 -173,183,945.00
(II) Other comprehensive incomes 0.00 29,323,319.00 0.00 0.00 0.00 0.00 0.00 29,323,319.00
Subtotal of (I) and (II) 0.00 29,323,319.00 0.00 0.00 0.00 0.00 -173,183,945.00 -143,860,626.00
(III) Capital paid in and reduced by owners 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
1. Capital paid in by owners 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
2. Amounts of share-based payments
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
recognized in owners’ equity
3. Others 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
(IV) Profit distribution 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
1. Appropriations to surplus reserves 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
2. Appropriations to general risk provisions 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
3. Appropriations to owners (or
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
shareholders)
4. Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
(V) Internal carry-forward of owners’ equity 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
1. New increase of capital (or share capital)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
from capital public reserves
2. New increase of capital (or share capital)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
from surplus reserves
3. Surplus reserves for making up losses 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
4. Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
(VI) Specific reserve 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
1. Withdrawn for the period 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
2. Used in the period 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
(VII) Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
IV. Closing balance 13,521,542,341.00 15,165,798,633.00 0.00 0.00 499,092,613.00 0.00 -809,388,608.00 28,377,044,979.00
Legal representative: Mr. Wang Dongsheng President of the Company: Mr. Chen Yanshun
Person-in-charge of the accounting work: Ms. Sun Yun Chief of the accounting division: Ms. Yang Xiaoping
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III. Company profile
BOE Technology Group Company Limited (the “Company”) is a company limited by shares established on 9 April 1993 at Beijing, with its head office located in Beijing. The parent of the
Company is Beijing Electronic Tube Factory (after “debt-equity swap” restructuring converted to “Beijing Orient Investment and Development Company Limited” (“BOID”)). The Company’s
ultimate holding company is Beijing Electronics Holdings Co., Ltd. (“Electronics Holdings”).
The Company was established with the approval of the Office of Economic Restructuring of Beijing Municipality JTGBZ [1992] No. 22, founded by the former Beijing Electronic Tube Factory
as the main promoter by way of directional stock flotation. The former Beijing Electronic Tube Factory transferred its related assets and liabilities to the Company. Such assets and liabilities had
been valued by the State-owned Assets Supervision and Administration Commission. The Company used the revaluation amount as the initial value for Company’s accounting records.
As approved by the State Council Securities Commission through document ZWF [1997] No. 32, the Company issued 115,000,000 B shares on 19 May 1997 at the Shenzhen Stock Exchange,
with a face value of RMB 1.00 each, getting listed on 10 June 1997 at the Shenzhen Stock Exchange. As approved by the China Securities Regulatory Commission (“CSRC”) through document
ZJGSZ [2000] No. 197, the Company issued 60,000,000 ordinary shares denominated in Renminbi on 23 November 2000 at Shenzhen Stock Exchange, with a face value of RMB 1.00 each,
getting listed on 12 January 2001 at the Shenzhen Stock Exchange.
As approved by the CSRC through document ZJFXZ [2004] No. 2, “The Notice on approving BOE Technology Group Company Limited’s Further Share Offering”, the Company additionally
issued 316,400,000 B shares on 16 Jan 2004, with a face value of RMB 1.00 each and issuing value of HKD 6.32, which raised capital amounting to HKD 1,999,648,000. After accounting for
all the relevant issuance fees, the B shares further offering raised capital of HKD 1,922,072,431 (RMB 2,048,160,383), with total share capital increasing to RMB 975,864,800.
Pursuant to the resolution approved by the 2003 Annual General Meeting held on 28 May 2004, the Company implemented its plan of transferring capital reserve into share capital at the rate of
“5 shares for every 10 shares” to all shareholders in June 2004. Upon the completion of the transfer, the Company’s total share capital increased to RMB 1,463,797,200.
Pursuant to the resolution passed by the 2005 First Special Shareholders’ General Meeting held on 5 July 2005, based on the total share capital of 1,463,797,200 shares as at 31 December 2004,
the Company transferred capital reserve into share capital at the rate of “5 shares for every 10 share” to all shareholders on 19 July 2005. Upon completion of the transfer, the Company’s total
share capital increased to RMB 2,195,695,800.
In accordance with “The Approval Notice on BOE’s State-owned Share Reform Plan” issued by Stated-owned Assets Supervision and Administration Commission of Beijing Municipality
(JGZCQZ [2005] No. 119), the Company implemented its state-owned share reform plan agreed by the shareholders on 24 November 2005. According to the plan, those registered tradable
RMB-denominated ordinary share shareholders on 29 November 2005 would receive 4.2 shares for every 10 listed shares. This had contributed to the change in percentage of tradable and
non-tradable shares of the Company.
Pursuant to the 21st Session of the Forth Board of Directors and the Special Shareholders’ General Meeting held on 18 April 2006 and 19 May 2006 respectively, and the approval from the
CSRC through document ZJFXZ [2006] No. 36, the Company issued 675,872,095 non-public targeted ordinary shares (A shares) with face value of RMB 1. On 9 October 2006, the Company
completed shares registration and escrow in China Securities Depository and Clearing Corporation Limited Shenzhen branch. Upon completion of the issuance, the Company’s total share capital
increased to RMB 2,871,567,895.
Pursuant to the Third Session of the Fifth Board of Directors and the 2007 Forth Special Shareholders’ General Meeting held on 29 August 2007 and 26 September 2007 respectively, and the
approval from the CSRC through document ZJFXZ [2008] No. 587, the Company issued 411,334,552 non-public targeted RMB-denominated ordinary share with a face value of RMB 1. On 16
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
July 2008, the Company completed shares registration and escrow in China Securities Depository and Clearing Corporation Limited Shenzhen branch. Upon completion of the issuance, the
Company’s total share capital increased to RMB 3,282,902,447.
Pursuant to the 17th Session of the Fifth Board of Directors and the 2008 Second Special General Meeting held on 7 November 2008 and 25 November 2008 respectively, and approval from the
CSRC through document ZJFXZ [2009] No. 369, the Company issued 5,000,000,000 non-public targeted RMB-denominated ordinary share with a face value of RMB 1. On 4 June 2009, the
Company completed shares registration and escrow in China Securities Depository and Clearing Corporation Limited Shenzhen branch. Upon completion of the issuance, the Company’s total
share capital increased to RMB 8,282,902,447. The Company revised its Articles of Association on June 2009, and obtained the renewed the business license as legal person with No.
110000005012597 on 7 August 2009.
Pursuant to the Second Session of the Sixth Board of Directors and the 2010 Second Special Shareholders’ General Meeting held on 21 Jul. 2010 as well as approval from the CSRC through
document ZJFXZ [2010]1324 No. 1324, the Company issued 2,985,049,504 non-public targeted RMB-denominated ordinary share with a face value of RMB 1. On 7 Dec. 2010, the Company
completed shares registration and escrow in China Securities Depository and Clearing Corporation Limited Shenzhen branch. Upon completion of the issuance, the Company’s total share capital
increased to RMB 11,267,951,951.
Pursuant to the Eighth Session of the Sixth Board of Directors held on 22 Apr. 2011 and the 2010 Shareholders’ General Meeting held on 30 May 2011, basing on the total share capital of
11,267,951,951 up to 31 Dec. 2010, the Company implemented its plan of transferring capital reserve into share capital at the rate of “2 shares for every 10 shares” to all shareholders in Jun.
2011. Upon the completion of the transfer, the Company’s total share capital increased to RMB 13,521,542,341.
Through the resolution of the 2nd Session of the 7th Board of Directors on 24 Jul. 2013 and the approval of the 3rd Extraordinary General Meeting on 12 Aug. 2013 as well as the approval of
ZJXK [2013] No. 615 document of CSRC on 24 Dec. 2013, the Company increased the issuing of the non-public Renminbi common shares to the specified targets of RMB 1 that amounted to
21,768,095,233 shares, which completed the share register hosting in Shenzhen Branch of CSDC on 7 Apr. 2014 that after the increase, the share capital of the Company changed into RMB
35,289,637,574.
The Company and its subsidiaries (hereinafter referred to as “the Group”) divided into 4 major business branches in the world: such as thin film transistor liquid crystal display device
(hereinafter referred to as “TFT-LCD”) business, display light source products business, display system products business and other business, of which other business including precision parts
and materials business, photovoltaic business and office property leasing business etc.
IV. Main accounting policies, accounting estimates and corrections of prior accounting errors
1. Basis for preparation of financial statements
The financial statements have been prepared on the basis of going concern.
2. Statement of compliance with Corporate Accounting Standards
The financial statements have been prepared in accordance with the requirements of “Accounting Standards for Business Enterprises—Basic Standard” and 38 Specific Standards issued by the
Ministry of Finance (MOF) on 15 February 2006, and application guidance, bulletins and other relevant accounting regulations issued subsequently (collectively referred to as “Accounting
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Standards for Business Enterprises” or “CAS”). These financial statements present truly and completely the consolidated financial position and financial position as of 30 Jun. 2012, the
consolidated results of operations and results of operations and the consolidated cash flows and cash flows in the first half year of 2012 of the Company. These financial statements also comply
with the disclosure requirements of “Regulation on the Preparation of Information Disclosures of Companies Issuing Public Shares, No. 15: General Requirements for Financial Reports” as
revised by the China Securities Regulatory Commission (hereinafter referred to as “CSRC”) in 2010.
3. Accounting period
The accounting year of the Group is from 1 January to 31 December.
4. Functional currency
The Company’s functional currency is Renminbi. These financial statements are presented in renminbi. The basis of choosing the functional currency for the Company and its subsidiaries is that
it’s the pricing and settlement currency for the main business. The Company translates the financial statements of subsidiaries from their respective functional currencies into Renminbi if the
subsidiaries’ functional currencies are not Renminbi.
5. Accounting treatments for a business combination involving entities under and those not under common control
(1) Business combination involving entities under common control
A business combination involving enterprises under common control is a business combination in which all of the combining enterprises are ultimately controlled by the same party or parties
both before and after the business combination, and that control is not transitory. The assets and liabilities obtained are measured at the carrying amounts as recorded by the enterprise being
combined at the combination date. The difference between the carrying amount of the net assets obtained and the carrying amount of consideration paid for the combination (or the total face
value of shares issued) is adjusted to share premium in the capital reserve. If the balance of share premium is insufficient, any excess is adjusted to retained earnings. Other direct expenses occur
when the Group conducting business combinations is recognized in current profit and loss. The combination date is the date on which one combining enterprise effectively obtains control of the
other combining enterprises.
(2) Business combinations involving entities not under common control
A business combination involving entities not under common control is a business combination in which all of the combining entities are not ultimately controlled by the same party or parties
both before and after the business combination. When the Group acts as the combination party, the cost of a business combination paid by the acquirer is the aggregate of the fair value at the
acquisition date of assets given (including share equity of the acquiree held before the combination date), liabilities incurred or assumed, and equity securities issued by the acquirer. Any excess
of the cost of a business combination over the acquirer’s interest in the fair value of the acquiree’s identifiable net assets is recognized as goodwill, while any excess of the acquirer’s interest in
the fair value of the acquiree’s identifiable net assets over the cost of a business combination is recognized in profit or loss. The cost of equity securities or liability securities as on combination
consideration offering is recognized in initial recording capital on equity securities or liability securities. Other direct expenses occur when the Group conducting business combinations is
recognized in current profit and loss. The difference between the fair value and the carrying amount of the assets given is recognized in profit or loss. The Group, at the acquisition date,
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
recognized the acquiree’s identifiable asset, liabilities and contingent liabilities at their fair value at that date. The acquisition date is the date on which the acquirer effectively obtains control of
the acquiree.
6. Preparation methods for consolidated financial statements
(1) Preparation methods for consolidated financial statements
The scope of consolidated financial statements is determined on the base of control, which comprise the Company and its subsidiaries. Control is the power to govern the financial and operating
policies of an entity so as to obtain benefits from its operating activities. The financial status, operating results and cash flow of subsidiaries are included in the consolidated financial statements
from the date that control commences until the date that control ceases.
Where a subsidiary was acquired during the reporting period, through a business combination involving entities under common control, the financial statements of the subsidiary are included in
the consolidated financial statements as if the combination had occurred at the date that common control was established. Therefore the opening balances and the comparative figures of the
consolidated financial statements are restated. In the preparation of the consolidated financial statements, the subsidiary’s assets, liabilities and results of operations are included in the
consolidated balance sheet based on their carrying amounts; while results of operations are included in the consolidated income statement, from the date that common control was established.
Where a subsidiary was acquired during the reporting period, through a business combination involving entities not under common control, when prepared the consolidated financial statements,
the Company shall included the acquired subsidiaries into the consolidated scope from the acquisition date basing on the fair value of the identifiable assets, liabilities at the acquisition date.
Where a business combination involving entities not under common control was realized through two or more transactions and by several steps, for equity held by acquiree before the
acquisition date, the Group will re-account the equity according to fair value at the acquisition date and the difference between the fair value and its carrying value is recognized as investment
income. If the said equity is involving in other comprehensive income, other relevant comprehensive income is transferred into investment income at the acquisition date.
Where the Company acquires a minority interest from a subsidiary’s minority shareholders or disposes of a portion of an interest in a subsidiary without a change in control, the difference
between the amount by which the minority interests are adjusted and the amount of the consideration paid or received is adjusted to the capital reserve (share premium) in the consolidated
balance sheet. If the credit balance of capital reserve (share premium) is insufficient, any excess is adjusted to retained earnings.
Where the control of former subsidiary was lost for disposal of part of equity investment or other reasons, the Group terminated to recognize the assets, liabilities, minority interest and other
items of equities relevant to the subsidiary. As for remaining equity investment after disposal, the Group will re-account it according to the fair value at the date the control was lost. Any profit
or loss occurred shall be recorded into the investment income during the period of losing control right. Equity, profit or loss attributable to minority shareholders is presented separately under
the item of shareholders’ equity in consolidated income statement and the net profits in the consolidated income statement.
If current loss shoulder by minority shareholders of a subsidy over the proportion enjoyed by minority shareholders in a subsidy at owners’ equity at period-begin, its balance still offset minority
shareholders’ equity.
When the accounting period or accounting policies of a subsidiary are different from those of the Company, the Company makes necessary adjustments to the financial statements of the
subsidiary based on the Company’s own accounting period or accounting policies. Intra-group balances and transactions, and any unrealized profit or loss arising from intra-group transactions,
are eliminated in preparing the consolidated financial statements. Unrealized losses resulting from intra-group transactions are eliminated in the same way as unrealized gains but only to the
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extent that there is no evidence of impairment.
(2) As for the event about purchasing and then selling (or selling and then purchasing) equities of the same subsidiary, the Company shall disclose relevant
accounting treatment methods.
Naught
7. Standards in recognizing cash and cash equivalents
Cash and cash equivalents comprise cash on hand, demand deposits, and short-term, highly liquid investments, which are readily convertible into known amounts of cash and are subject to an
insignificant risk of change in value.
8. Foreign currency and accounting method for foreign currency
(1) Foreign currency business
When the Group receives capital in foreign currencies from investors, the capital is translated to Renminbi at the spot exchange rate at the date of the receipt. Other foreign currency transactions
are, on initial recognition, translated to renminbi at the spot exchange rates at the dates of the transactions.
A spot exchange rate is an exchange rate quoted by the People’s Bank of China, the State Administration of Foreign Exchanges or a cross rate determined based on quoted exchange rates. A
rate that approximates the spot exchange rate is a rate determined under a systematic and rational method, normally the average exchange rate of the current period or the weighted average
exchange rate.
Monetary items denominated in foreign currencies are translated to Renminbi at the spot exchange rate at the balance sheet date. The resulting exchange differences are recognized in profit or
loss, except those arising from the principals and interests on foreign currency borrowings specifically for the purpose of acquisition, construction of qualifying assets. Non-monetary items
denominated in foreign currencies that are measured at historical cost are translated to Renminbi using the foreign exchange rate at the transaction date. Non-monetary items denominated in
foreign currencies that are measured at fair value are translated using the foreign exchange rate at the date the fair value is determined; the exchange differences, if it’s the difference arising
from the non-monetary item of available-for-sale financial assets, which shall be considered as other comprehensive income and recognized in capital reserve; other differences shall be
recognized in current profit or loss.
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(2) Translations of financial statements in foreign currencies
The assets and liabilities of foreign operation are translated to Renminbi at the spot exchange rate at the balance sheet date. The equity items, excluding “Retained earning”, are translated to
Renminbi at the spot exchange rates at the transaction dates. The income and expenses of foreign operation are translated to Renminbi at rates that approximate the spot exchange rates at the
transaction dates. The resulting exchange differences are recognized in a separate component of equity. Upon disposal of a foreign operation, the cumulative amount of the exchange differences
recognized in equity which relates to that foreign operation is transferred to profit or loss in the period in which the disposal occurs.
9. Financial instruments
(1) Category of financial instruments
Financial instruments comprise monetary funds, bonds investment, equity investment other than long-term equity investment, receivables, payables, borrowings and share capital, etc.
(2) Recognition and measurement of financial instruments
A financial asset or financial liability is recognized in the balance sheet when the Group becomes a party to the contractual provisions of a financial instrument.
The Group classifies financial assets and liabilities into different categories at initial recognition based on the purpose of acquiring assets or assuming liabilities: financial assets and financial
liabilities at fair value through profit or loss, loans and receivables, held-to-maturity investments, available-for-sale financial assets and other financial liabilities.
Financial assets and liabilities are measured initially at fair value. For financial assets and liabilities at fair value through profit or loss, any directly attributable transaction costs are charged to
profit or loss; for other categories of financial assets and financial liabilities, any attributed transaction costs are included in their initial costs. Subsequent to initial recognition financial assets
and liabilities are measured as follows:
– Financial assets and financial liabilities at fair value through profit or loss (including financial assets or financial liabilities held for trading)
A financial asset or financial liability held by the Group is classified as at fair value through profit or loss if it is acquired or incurred principally for the purpose of selling or repurchasing it in
the near term or if it is a derivative.
Subsequent to initial recognition, financial assets and financial liabilities at fair value through profit or loss are measured at fair value, and changes therein are recognized in profit or loss.
– Receivables
Receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market.
Subsequent to initial recognition, receivables are subsequently stated at amortized cost using the effective interest method.
– Held-to-maturity investments
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Held-to-maturity investments are non-derivative financial assets with fixed or determinable payments and fixed maturity that the Group has the positive intention and ability to hold to maturity.
Subsequent to initial recognition, held-to-maturity investments are stated at amortized cost using the effective interest method.
– Available-for-sale financial assets
Available-for-sale financial assets include non-derivative financial assets that are designated upon initial recognition as available for sale and other financial assets which do not fall into any of
the above categories.
As for the available-for-sale financial assets whose fair value cannot be reliably measured is measured at cost subsequent to initial recognition; except that, subsequent to initial recognition,
other available-for-sale financial assets are measured at fair value and changes therein, except for impairment losses and foreign exchange gains and losses from monetary financial assets, which
are recognized directly in profit or loss, are considered as other comprehensive income to be recognized directly in capital reserves. When an investment is derecognized, the cumulative gain or
loss in equity is removed from equity and recognized in profit or loss. Dividend income from these equity instruments is recognized in profit or loss when the investee declares the dividends.
Interest on available-for-sale financial assets calculated using the effective interest method is recognized in profit or loss.
– Other financial liabilities
Financial liabilities other than the financial liabilities at fair value through profit or loss are classified as other financial liabilities.
Other financial liabilities include the liabilities arising from financial guarantee contracts. Financial guarantees are contracts that require the issuer (i.e. the guarantor) to make specified
payments to reimburse the beneficiary of the guarantee (the holder) for a loss the holder incurs because a specified debtor fails to make payment when due, in accordance with the terms of a
debt instrument. Where the Group issues a financial guarantee, subsequent to initial recognition, the guarantee is measured at the higher of the amount initially recognized less accumulated
amortization and the amount of a provision determined in accordance with the principles of contingent liabilities.
Except for the liabilities arising from financial guarantee contracts described above, subsequent to initial recognition, other financial liabilities are measured at amortized cost using the effective
interest method.
(3) Recognition and accounting method for transfer of financial assets
A financial asset is derecognized if the Group’s contractual rights to the cash flows from the financial asset expire or if the Group transfers substantially all the risks and rewards of ownership of
the financial asset to another party.
Where a transfer of a financial asset in its entirety meets the criteria of derecognition, the difference between the two amounts below is recognized in profit or loss:
– Carrying amount of the financial asset transferred
– The sum of the consideration received from the transfer and any cumulative gain or loss that has been recognized directly in equity.
(4) Derecognition conditions of financial liabilities
The Group derecognizes a financial liability (or part of it) only when the underlying present obligation (or part of it) is discharged.
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(5) Recognition method for fair value of financial assets and financial liabilities
As for a financial asset or financial liability with an active market, the Company determined its fair value by the quoted price in the active market.
If no active market exists for a financial instrument, a valuation technique is used to establish the fair value. Valuation techniques include using recent arm’s length market transactions between
knowledgeable, willing parties; reference to the current fair value of another instrument that is substantially the same; or discounted cash flow analysis and option pricing models. The Group
calibrates its valuation technique and tests it for validity periodically.
Notes: the recognition method the financial assets and financial liabilities, including the recognition method of the fair value of the financial assets and financial liabilities caused by continued
involvement.
(6) Withdrawal of impairment provision for financial assets (excluding accounts receivable)
The carrying amounts of financial assets (other than those at fair value through profit or loss) are reviewed at each balance sheet date to determine whether there is objective evidence of
impairment.
Objective evidence of impairment includes but not is limited to the followings:
(a) A serious financial difficulty occurs to the issuer or debtor;
(b) The debtor breaches any of the contractual stipulations, for example, fails to pay or delays the payment of interests or the principal, etc.;
(c) The debtor will probably become bankrupt or carry out other financial reorganizations;
(d) The financial asset can no longer continue to be traded in the active market due to serious financial difficulties of the issuer;
(e) Any seriously disadvantageous change has occurred to technical, market, economic or legal environment, etc. wherein the issuer of instruments operates its business, which makes the
investor of an equity instrument unable to take back its investment;
(f) Where the fair value of the equity instrument investment drops significantly or not contemporarily (which the fair value declined of 50%) or not contemporarily (which the fair value
constantly declined over than 9 months) etc.
– Held-to-maturity investments
Held-to-maturity investments are assessed for impairment on an individual basis. An impairment loss in respect of a held-to-maturity investment is calculated as the excess of its carrying
amount over the present value of the estimated future cash flows (exclusive of future credit losses that have not been incurred) discounted at the original effective interest rate. All impairment
losses are recognized in profit or loss.
If, after an impairment loss has been recognized on held-to-maturity investments, there is objective evidence of a recovery in value of the financial asset which can be related objectively to an
event occurring after the impairment was recognized, the previously recognized impairment loss is reversed through profit or loss. The reversed carrying amount shall not be any more than the
post-amortization costs of the said financial asset on the day of reverse under the assumption that no provision is made for the impairment.
– Available-for-sale financial assets
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Available-for-sale financial assets are assessed for impairment on an individual basis. When an available-for-sale financial asset is impaired, the cumulative loss arising from a decline in fair
value that has been recognized directly in equity is removed from equity and recognized in profit or loss even though the financial asset has not been derecognized.
If, after an impairment loss has been recognized on an available-for-sale debt instrument, the fair value of the debt instrument increases in a subsequent period and the increase can be
objectively related to an event occurring after the impairment loss was recognized, the impairment loss is reversed through profit or loss. An impairment loss recognized for an investment in
an equity instrument classified as available-for-sale is not reversed through profit or loss.
(7) As for event about reclassifying the undue held-to-maturity investment into available-for-sale financial assets, the Company shall state the basis of
changes in holding purpose or ability
Naught
10. Recognition criteria and withdrawal methods for bad debts provision of accounts receivable
Accounts receivable uses individual method and compound method to assess the impairment losses contemporary.
When assesses through the individual method and the current price discounted according to the original actual interest rate of the estimated future cash flow of the accounts receivable (not
including the future credit losses not happened) lower than the book value, the Group should write-down the current value of the book value of the accounts receivable and the written-down
amount should be recognized as the assets impairment losses that included into the current gains and losses.
When assess the impairment losses through the compound method, the losses amount is adjusted and recognized according to the previous losses experience of the accounts receivable with the
similar characteristics of the credit risks (including the accounts receivable assessed by individual method but not caused impairment) as well as according to the observed data which reflect the
current economic condition.
After recognizing the impairment losses of the accounts receivable, if there is objective evidence indicates the value of the financial assets had recovered, and is objectively relevant to the events
happened after the losses, the Group should reverse the original recognized impairment losses and included into the current gains and losses. The book value after reverse should not exceed the
amortized cost of the financial assets which are supposed not to withdraw the impairment provision on the reverse date.
(1) Bad debt provision for individually significant accounts receivable
Judgement basis or monetary standards of
provision for bad debts of the individually RMB 50,000,000
significant accounts receivable
Method of individual provision for bad debts of On balance sheet day, the impairment test is carried on individually for the individually significant receivables; if it is impaired after the
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
the individually significant accounts receivable impairment test, the Company provides provision for impairment loss for the amount which is measured as the difference between the asset's
carrying amount and the present value of estimated future cash flows, and withdraws relevant bad debt provision.
(2) Accounts receivable for which bad debt provisions are made on the group basis
Name of group Withdrawal method of bad debt provision on the group basis Recognition basis of group
Portfolio of credit risk Other method With the same credit risk characteristics
In the groups, adopting aging analysis method to withdraw bad debt provision:
□ Applicable √Inapplicable
In the groups, adopting balance percentage method to withdraw bad debt provision
□ Applicable √Inapplicable
In the groups, adopting other methods to withdraw bad debt provision
√Applicable □Inapplicable
Name of group Notes of method
Portfolio of Pursuant to experience of loss of account receivable with similar credit risk characteristic (including account receivable which has not occurred impairment by some ways of
credit risk evaluation), and observable data reflecting current economic position to investigate and confirm
(3) Accounts receivable with an insignificant single amount but for which the bad debt provision is made individually
It refers to the receivables with the closing individual amount not reaching the monetary standards for the above said
“accounts receivable with significant amount”. On balance sheet day, the impairment test is carried on individually for the
Reason of individually withdrawing bad debt provision: individually insignificant receivables; if it is impaired after the impairment test, the Company provides provision for
impairment loss for the amount which is measured as the difference between the asset's carrying amount and the present
value of estimated future cash flows, and withdraws relevant bad debt provision.
The Company provides provision for impairment loss for the amount which is measured as the difference between the asset's
Withdrawal method for bad debt provision:
carrying amount and the present value of estimated future cash flows, and withdraws relevant bad debt provision
11. Inventories
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(1) Classification
Inventories include raw materials, work in progress, finished goods and reusable materials. Reusable materials include low-value consumables, packaging materials and other materials, which
can be used repeatedly but do not meet the definition of fixed assets.
(2) Pricing method for outgoing inventories
□ First-in first-out method √ Weighted average method □ Specific identification method □ Other
Cost of inventories is calculated using the weighted average method.
(3) Recognition basis of net realizable value and withdrawal method of depreciation reserves for inventories
Inventories are initially measured by the cost. Cost of inventories comprises all costs of purchase, costs of conversion and other costs. Inventories are initially measured at their actual cost.
In addition to the purchasing cost of raw materials, work in progress and finished goods include direct labor costs and an appropriate allocation of production overheads.
On the balance sheet day, inventories are carried at the lower of cost and net realizable value.
Net realizable value is the estimated selling price in the normal course of business less the estimated costs to completion and the estimated expenses and related taxes necessary to make the sale.
The net realizable value of materials held for use in the production of inventories is measured based on the net realizable value of the finished goods in which they will be incorporated. The net
realizable value of the quantity of inventory held to satisfy sales or service contracts is based on the contract price. If the quantities of inventories specified in sales contracts are less than the
quantities held by the Group, the net realizable value of the excess portion of inventories shall be based on general selling prices.
Any excess of the cost over the net realizable value of each class of inventories is recognized as a provision for diminution in the value of inventories, and then recorded into current profit or
loss.
(4) Inventory system for inventories:
System for inventories: Perpetual inventory system
The Group maintains a perpetual inventory system.
(5) Amortization method of the low-value consumption goods and packing articles
Low-value consumption goods
Amortization method: one-off amortization method
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The low-value consumption goods adopt one-off amortization method, and recorded into the costs or current profit or loss of relevant assets.
Packing articles
Amortization method: one-off amortization method
The packing articles adopt one-off amortization method, and recorded into the costs or current profit or loss of relevant assets.
12. Long-term equity investments
(1) Recognition of initial investment cost
(a) Long-term equity investments acquired through a business combination
– The initial investment cost of a long-term equity investment obtained through a business combination involving entities under common control is the Company’s share of the subsidiary’s
equity at the combination date. The difference between the initial investment cost and the carrying amounts of the consideration given is adjusted to share premium in capital reserve. If the
balance of the share premium is insufficient, any excess is adjusted to retained earnings.
– For other long-term equity investment obtained through entities not under common control, the fair values, on the acquisition date, of the assets given, the liabilities incurred or assumed and
the equity securities issued by the acquirer in exchange for the control on the acquiree shall be recognized as initial investment cost of the long-term equity investment. For long-term equity
investment obtained through a business combination involving entities not under common control by two or more transactions and by several steps, the initial investment cost is recognized as
the aggregation of the carrying value of acquirees’ equity investment before the acquisition date held by the Company and newly investment cost at the acquisition date.
(b) Long-term equity investments acquired otherwise than through a business combination
– An investment in a subsidiary acquired otherwise than through a business combination is initially recognized at initial investment cost if the Group acquires the investment by cash, or at the
fair value of the equity securities issued if an investment is acquired by issuing equity securities, or at the value stipulated in the investment contract or agreement if an investment is contributed
by shareholders.
(2) Subsequent measurement and recognition of profits or losses
(a) Investments in subsidiaries
In the Company’s financial statements, investments in subsidiaries are accounted for using the cost method. Cash dividends or profit distributions declared by subsidiaries and attributed to the
Company shall be recognized as investment income, without dividing whether it’s the net profit realized by the investee before the investment or after the investment, except those that have
been declared but unpaid at the time of acquisition and therefore included in the price paid or consideration.
The investment of the subsidiaries is stated at cost less impairment losses in the balance sheet.
In the Group’s consolidated financial statements, investments in subsidiaries are accounted for in accordance with the principles.
(b) Investment in jointly controlled enterprises and associates
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A jointly controlled enterprise is an enterprise which operates under joint control in accordance with a contractual agreement between the Group and other parties.
An associate is an enterprise over which the Group has significant influence.
Upon the subsequent measurement, an investment in a jointly controlled enterprise or an associate is accounted for using the equity method, unless the investment is classified as held for sale.
The Group makes the following accounting treatments when using the equity method:
– Where the initial investment cost of a long-term equity investment exceeds the Group’s interest in the fair value of the investee’s identifiable net assets at the date of acquisition, the
investment is initially recognized at the initial investment cost. Where the initial investment cost is less than the Group’s interest in the fair value of the investee’s identifiable net assets at the
date of acquisition, the investment is initially recognized at the investor’s share of the fair value of the investee’s identifiable net assets, and the difference is charged to profit or loss.
– After the acquisition of the investment, the Group recognizes its share of the investee’s net profits or losses after deducting the amortization of the debit balance of equity investment
difference, which was recognized by the Group before the first-time adoption of CAS, as investment income or losses, and adjusts the carrying amount of the investment accordingly. The
debit balance of the equity investment difference is amortized using the straight-line method over a period which is determined in accordance with previous accounting standards. Once the
investee declares any cash dividends or profits distributions, the carrying amount of the investment is reduced by that attributable to the Group.
The Group recognizes its share of the investee’s net profits or losses after making appropriate adjustments to align the accounting policies or accounting periods with those of the Group based
on the fair values of the investee’s identifiable net assets at the date of acquisition. Unrealized profits and losses resulting from transactions between the Group and its associates or jointly
controlled enterprises are eliminated to the extent of the Group’s interest in the associates or jointly controlled enterprises. Unrealized losses resulting from transactions between the Group and
its associates or jointly controlled enterprises are eliminated in the same way as unrealized gains but only to the extent that there is no evidence of impairment.
– The Group discontinues recognizing its share of net losses of the investee after the carrying amount of the long-term equity investment and any long-term interest that in substance forms part
of the Group’s net investment in the associate or the jointly controlled enterprise is reduced to zero, except to the extent that the Group has an obligation to assume additional losses. Where net
profits are subsequently made by the associate or jointly controlled enterprise, the Group resumes recognizing its share of those profits only after its share of the profits equals the share of losses
not recognized.
For the other changes in the owner’s equities of jointly controlled enterprises and associates except for the net gains and losses, the Group should adjust the book value of the long-term equity
investment and included into the shareholders’ equities.
(c) Other long-term equity investment is refer to the long-term investment that the investee enterprises not under the control of the Group, under the same control, and the Group had significant
influence on them, as well as there is no offer amount the active market with the fair value should be reliable measured amount the active market.
The Group adopts the cost method to have follow-up measurement for other long-term equity investment and recognized the cash dividends distributed by the investee units or the profits
partly owned by the Group as investment income, and not divide whether are belongs to the net profits realized by the investee units before and after investment, however, except for the price
actually paid when gaining the investment or the cash dividends or the profits included in the consideration that had declared but not distributed.
(3) The basis for determination of joint control or significant influence over investee enterprise
Joint control is the contractually agreed sharing of control over an investee’s economic activity, and exists only when the strategic financial and operating decisions relating to the activity
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require the unanimous consent of the parties sharing the control. The following evidences shall be considered when determining whether the Group can exercise joint control over an investee:
No single venturer is in a position to control the operating activities unilaterally;
Operating decisions relating to the investee’s economic activity require the unanimous consent of the parties sharing control;
If the parties sharing control appoint one venturer as the operator or manager of the joint venture through the contractual arrangement, the operator must act within the financial and operating
policies that have been agreed by the venturers in accordance with the contractual arrangement.
Significant influence is the power to participate in the financial and operating policy decisions of an investee but is not control or joint control over those policies. The following one or more
evidences shall be considered when determining whether the Group can exercise significant influence over an investee:
Representation on the board of directors or equivalent governing body of the investee;
Participation in policy-making processes, including participation in decisions about dividends or other distributions;
Material transactions between the investor and the investee;
Interchange of managerial personnel; or
Provision of essential technical information.
(4) Impairment test and method of provision for impairment loss
If any indication exists that an asset may be impaired, the recoverable amount of the asset is estimated. The recoverable amount of an asset, asset group or set of asset groups is the higher of its
fair value less costs to sell and its present value of expected future cash flows. An asset group is the smallest identifiable group of assets that generates cash inflows that are largely independent
of the cash inflows from other assets or asset groups. An asset group is composed of assets directly relating to cash-generation. Identification of an asset group is based on whether major cash
inflows generated by the asset group are largely independent of the cash inflows from other assets or asset groups. In identifying an asset group, the Group also considers how management
monitors the Group’s operations and how management makes decisions about continuing or disposing of the Group’s assets.
An asset’s fair value less costs to sell is the amount determined by the price of a sale agreement in an arm’s length transaction, less the costs that are directly attributable to the disposal of the
asset. The present value of expected future cash flows of an asset is determined by discounting future cash flows, estimated to be derived from continuing use of the asset and from its ultimate
disposal, to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset.
If the result of the recoverable amount calculation indicates that the recoverable amount of an asset is less than its carrying amount, the carrying amount of the asset is reduced to its recoverable
amount. That reduction is recognized as an impairment loss and charged to profit or loss for the current period. A provision for impairment loss of the asset is recognized accordingly. For
impairment losses related to an asset group or a set of asset groups, first reduce the carrying amount of any goodwill allocated to the asset group or set of asset groups, and then reduce the
carrying amount of the other assets in the asset group or set of asset groups on a pro rata basis. However, the carrying amount of an impaired asset will not be reduced below the highest of its
individual fair value less costs to sell (if determinable), the present value of expected future cash flows (if determinable) and zero.
Once an impairment loss is recognized, it is not reserved in a subsequent period.
For other long-term equity investments, the carrying amount is required to be tested for impairment at the balance sheet date. If there is objective evidence that the investments may be impaired,
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the impairment shall be assessed on an individual basis. The impairment loss is measured as the amount by which the carrying amount of the investment exceeds the present value of estimated
future cash flows discounted at the current market rate of return for a similar financial asset. Such impairment losses are not reversed. The other long-term equity investments are stated at cost
less impairment losses in the balance sheet.
13. Investment property
An investment property is a property held either to earn rental income or for capital appreciation or both. After deducting the estimated net salvage and accumulative impairment provision of the
cost by the Group, the investment property is depreciated or amortized using the straight-line method over its estimated useful life, unless the investment property is classified as held for sale.
The useful lives and estimated residual values as well as annual depreciation rate of each class of investment property are as follows:
Useful life (years) Residual value rate (%) Annual depreciation rate (%)
Buildings 25 years-35 years 3%-10% 2.6%-3.9%
Land use rights 32 years-50 years 0% 2%-3.1%
If any indication exists that an asset may be impaired, the recoverable amount of the asset is estimated. The recoverable amount of an asset, asset group or set of asset groups is the higher of its
fair value less costs to sell and its present value of expected future cash flows. An asset group is the smallest identifiable group of assets that generates cash inflows that are largely independent
of the cash inflows from other assets or asset groups. An asset group is composed of assets directly relating to cash-generation. Identification of an asset group is based on whether major
cash inflows generated by the asset group are largely independent of the cash inflows from other assets or asset groups. In identifying an asset group, the Group also considers how management
monitors the Group’s operations and how management makes decisions about continuing or disposing of the Group’s assets.
An asset’s fair value less costs to sell is the amount determined by the price of a sale agreement in an arm’s length transaction, less the costs that are directly attributable to the disposal of the
asset. The present value of expected future cash flows of an asset is determined by discounting future cash flows, estimated to be derived from continuing use of the asset and from its ultimate
disposal, to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset.
If the result of the recoverable amount calculation indicates that the recoverable amount of an asset is less than its carrying amount, the carrying amount of the asset is reduced to its recoverable
amount. That reduction is recognized as an impairment loss and charged to profit or loss for the current period. A provision for impairment loss of the asset is recognized accordingly. For
impairment losses related to an asset group or a set of asset groups, first reduce the carrying amount of any goodwill allocated to the asset group or set of asset groups, and then reduce the
carrying amount of the other assets in the asset group or set of asset groups on a pro rata basis. However, the carrying amount of an impaired asset will not be reduced below the highest of its
individual fair value less costs to sell (if determinable), the present value of expected future cash flows (if determinable) and zero.
Once an impairment loss is recognized, it is not reserved in a subsequent period.
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14. Fixed assets
(1)Recognized standard of fixed assets
Fixed assets represent the tangible assets held by the Group for use in the production of goods or supply of services for rental to others or for operation and administrative purposes with useful
lives over one year. The cost of a purchased fixed asset comprises the purchase price, related taxes, and any directly attributable expenditure for bringing the asset to working condition for its
intended use. The cost of self-constructed assets is measured in accordance with the policy set out in Note VIII (IV) 15. Where parts of an item of fixed assets have different useful lives or
provide benefits to the Group in different patterns thus necessitating use of different depreciation rates or methods, each part is recognized as a separate fixed asset. The subsequent costs,
including the cost of replacing part of an item of fixed assets, are recognized in the carrying amount of the item if the recognition criteria are satisfied, and the carrying amount of the replaced
part is derecognized. The costs of the day-to-day servicing of fixed assets are recognized in profit or loss as incurred. Fixed assets are stated in the balance sheet at cost less accumulated
depreciation and impairment losses.
(2) Recognition basis and pricing method of fixed assets by finance lease
From the beginning of lease term, the Group makes entry value of lease assets be the lower one between fair value of assets by lease from the beginning of leasehold and the minimum lease
payment, makes the minimum lease payment as entry value of long-term account receivable and its differences as unconfirmed lease expenditure. The Group reckons the initial direct expenses
due to financial lease into value of assets by lease. As for those can be confirmed rationally to get the ownership of assets by lease when the lease term due, the assets by lease shall be
withdrawn depreciation with life. Otherwise, assets by lease shall be withdrawn depreciation between the shorter term of lease term and useful life of assets. As for unconfirmed financial lease
expenses, the Group adopts effective interest method to amortize during every lease term and handles in line with principle of borrowing costs. As for balance sheet date, the Group shall deducts
balance of unconfirmed lease expenses from the account receivable relating to financial lease and displays respectively long-term liabilities and long-term liabilities due within one year.
(3) Depreciation methods of fixed assets
After deducting the estimated net salvage and accumulative impairment provision of the cost by the Group, the investment property is depreciated or amortized using the straight-line method
over its estimated useful life, unless the investment property is classified as held for sale.
The Group reexamines the service life, estimated net salvage and depreciation method at least at every year-end.
Category of fixed assets Useful life (Y) Estimated residual values Annual deprecation rate
Housing and building 20-40 years 3%-10% 2.3%-4.9%
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Machinery equipments 3-15 years 0%-10% 6%-33.3%
Other equipments 2-10 years 0.00% 9%-50%
(4) Testing method of impairment and withdrawal method of provision for impairment on fixed assets
If any indication exists that an asset may be impaired, the recoverable amount of the asset is estimated. The recoverable amount of an asset, asset group or set of asset groups is the higher of its
fair value less costs to sell and its present value of expected future cash flows. An asset group is the smallest identifiable group of assets that generates cash inflows that are largely independent
of the cash inflows from other assets or asset groups. An asset group is composed of assets directly relating to cash-generation. Identification of an asset group is based on whether major cash
inflows generated by the asset group are largely independent of the cash inflows from other assets or asset groups. In identifying an asset group, the Group also considers how management
monitors the Group’s operations and how management makes decisions about continuing or disposing of the Group’s assets.
An asset’s fair value less costs to sell is the amount determined by the price of a sale agreement in an arm’s length transaction, less the costs that are directly attributable to the disposal of the
asset. The present value of expected future cash flows of an asset is determined by discounting future cash flows, estimated to be derived from continuing use of the asset and from its ultimate
disposal, to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset.
If the result of the recoverable amount calculation indicates that the recoverable amount of an asset is less than its carrying amount, the carrying amount of the asset is reduced to its recoverable
amount. That reduction is recognized as an impairment loss and charged to profit or loss for the current period. A provision for impairment loss of the asset is recognized accordingly. For
impairment losses related to an asset group or a set of asset groups, first reduce the carrying amount of any goodwill allocated to the asset group or set of asset groups, and then reduce the
carrying amount of the other assets in the asset group or set of asset groups on a pro rata basis. However, the carrying amount of an impaired asset will not be reduced below the highest of its
individual fair value less costs to sell (if determinable), the present value of expected future cash flows (if determinable) and zero.
Once an impairment loss is recognized, it is not reserved in a subsequent period.
(5) Other explanations
15. Construction in progress
(1) Categories of construction in progress
The enterprise’s self-constructed fixed asset includes self construction and contract construction. The cost of the self-constructed fixed asset including the engineering materials, direct labor,
borrowing expenses met with the capitalization condition and the necessary expenses happened before the assets reach the expected available state.。
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(2) Standards and time of transferring construction in progress into fixed asset
When the self-constructed fixed asset reaches the available state, should transfer into the fixed assets, before which should be listed among the construction in progress and not withdraw the
depreciation.
(3) Impairment test method and withdrawal method for impairment provision of construction in progress
If any indication exists that an asset may be impaired, the recoverable amount of the asset is estimated. The recoverable amount of an asset, asset group or set of asset groups is the higher of its
fair value less costs to sell and its present value of expected future cash flows. An asset group is the smallest identifiable group of assets that generates cash inflows that are largely independent
of the cash inflows from other assets or asset groups. An asset group is composed of assets directly relating to cash-generation. Identification of an asset group is based on whether major
cash inflows generated by the asset group are largely independent of the cash inflows from other assets or asset groups. In identifying an asset group, the Group also considers how management
monitors the Group’s operations and how management makes decisions about continuing or disposing of the Group’s assets.
An asset’s fair value less costs to sell is the amount determined by the price of a sale agreement in an arm’s length transaction, less the costs that are directly attributable to the disposal of the
asset. The present value of expected future cash flows of an asset is determined by discounting future cash flows, estimated to be derived from continuing use of the asset and from its ultimate
disposal, to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset.
If the result of the recoverable amount calculation indicates that the recoverable amount of an asset is less than its carrying amount, the carrying amount of the asset is reduced to its recoverable
amount. That reduction is recognized as an impairment loss and charged to profit or loss for the current period. A provision for impairment loss of the asset is recognized accordingly. For
impairment losses related to an asset group or a set of asset groups, first reduce the carrying amount of any goodwill allocated to the asset group or set of asset groups, and then reduce the
carrying amount of the other assets in the asset group or set of asset groups on a pro rata basis. However, the carrying amount of an impaired asset will not be reduced below the highest of its
individual fair value less costs to sell (if determinable), the present value of expected future cash flows (if determinable) and zero.
Once an impairment loss is recognized, it is not reserved in a subsequent period.
16. Borrowing costs
(1) Recognition principles for capitalization of borrowing costs
Borrowing costs of the Company incurred directly attributable to the acquisition, construction of a qualifying asset are capitalized as part of the cost of the asset.
(2) Capitalization period of borrowing costs
The capitalizations period is the period from the date of commencement of capitalization of borrowing costs to the date of cessation of capitalization, excluding any period over which
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capitalization is suspended.
When the capital expenses and the borrowing expenses had happened and the necessary purchasing and construction activity which was for leading the capital to reach the expected available
state had began, the borrowing expenses had began capitalization.
When the qualified asset under acquisition and construction or production is ready for the intended use or sale, the capitalization of the borrowing costs shall be ceased.
If each part of the qualified asset under acquisition and construction or production is constructed and completed respectively, the Group shall determine the time of ceasing capitalization of the
borrowing costs according to different situation.
Where each part of a qualified asset under acquisition and construction or production is completed separately and is ready for use or sale during the continuing construction of other parts, and if
the acquisition and construction or production activities which are necessary to prepare this part of the asset for the intended use or sale have already been completed substantially, the
capitalization of the borrowing costs in relation to this part of asset shall be ceased. Because such part of asset has reached the expected condition of use or sale.
(3) Period for suspending capitalization of borrowing costs
Where the acquisition and construction or production of a qualified asset is interrupted abnormally and the interruption period lasts for more than 3 months, the capitalization of the borrowing
costs shall be suspended.
(4) Calculation method of capitalized amount of borrowing costs
- As for specifically borrowed loans for the acquisition and construction or production of assets eligible for capitalization, the to-be-capitalized amount of interests shall be determined in light of
the actual cost incurred of the specially borrowed loan at the present period minus the income of interests earned on the unused borrowing loans as a deposit in the bank or as a temporary
investment.
- Where a general borrowing is used for the acquisition and construction or production of assets eligible for capitalization, the enterprise shall calculate and determine the to-be-capitalized
amount of interests on the general borrowing by multiplying the weighted average asset disbursement of the part of the accumulative asset disbursements minus the general borrowing by the
capitalization rate of the general borrowing used. The capitalization rate shall be calculated and determined in light of the weighted average interest rate of the general borrowing.
- During the period of capitalization, the amount of interest capitalized during each accounting period shall not exceed the amount of interest actually incurred to the relevant borrowings in the
current period.
When the Group determines the to-be-capitalized amount of interests (including the amortization of discounts or premiums) in each accounting period, it shall firstly judge the funds source
occupied by the assets eligible for capitalization during the process of acquisition, construction and production. If the occupied funds are specifically borrowed loan, the to-be-capitalized amount
of interests shall be determined in light of the actual cost incurred of the specially borrowed loan in each accounting period. If the Group gained the income of interests earned on the unused
borrowing loans as a deposit in the bank or as a temporary investment, it shall minus the relevant interest income or investment income from the to-be-capitalized amount, so as to reflect the
actual costs of assets eligible for capitalization.
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17. Intangible assets
(1) Pricing method of intangible assets
Intangible assets are stated in the balance sheet at cost less accumulated amortization (where the estimated useful life is finite) and impairment losses. For an intangible asset with finite useful
life, its cost less residual value and impairment losses are amortized on the straight-line method over its estimated useful life, unless the intangible assets are classified as held for sale.
(2) Estimated useful life of intangible assets with limited useful life
As for the intangible assets with limited useful life, after deducting the salvage of the cost and the impairment provision, the Group amortized the intangible assets through straight line method
within the expected service life, unless the intangible assets are classified as held for sale.
Item Estimated useful life Basis
Land use rights 40-50 years Period stipulated by the Land Use Right Certificate
Special technology 9-20 years Period agreed in the contract or estimated to bring economic benefits for the Company
Computer software 3-10 years Period agreed in the contract or estimated to bring economic benefits for the Company
Patent and others 5-10 years Period agreed in the contract or estimated to bring economic benefits for the Company
(3) Judgment basis of intangible assets with uncertain useful life
An intangible asset is regarded as having an indefinite useful life and is not amortized when there is no foreseeable limit to the period over which the asset is expected to generate economic
benefits for the Group. At the balance sheet date, the Group doesn’t have any intangible assets with indefinite useful lives.
(4) Withdrawal of impairment provision of intangible assets
If any indication exists that an asset may be impaired, the recoverable amount of the asset is estimated. The recoverable amount of an asset, asset group or set of asset groups is the higher of its
fair value less costs to sell and its present value of expected future cash flows. An asset group is the smallest identifiable group of assets that generates cash inflows that are largely independent
of the cash inflows from other assets or asset groups. An asset group is composed of assets directly relating to cash-generation. Identification of an asset group is based on whether major cash
inflows generated by the asset group are largely independent of the cash inflows from other assets or asset groups. In identifying an asset group, the Group also considers how management
monitors the Group’s operations and how management makes decisions about continuing or disposing of the Group’s assets.
An asset’s fair value less costs to sell is the amount determined by the price of a sale agreement in an arm’s length transaction, less the costs that are directly attributable to the disposal of the
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asset. The present value of expected future cash flows of an asset is determined by discounting future cash flows, estimated to be derived from continuing use of the asset and from its ultimate
disposal, to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset.
If the result of the recoverable amount calculation indicates that the recoverable amount of an asset is less than its carrying amount, the carrying amount of the asset is reduced to its recoverable
amount. That reduction is recognized as an impairment loss and charged to profit or loss for the current period. A provision for impairment loss of the asset is recognized accordingly. For
impairment losses related to an asset group or a set of asset groups, first reduce the carrying amount of any goodwill allocated to the asset group or set of asset groups, and then reduce the
carrying amount of the other assets in the asset group or set of asset groups on a pro rata basis. However, the carrying amount of an impaired asset will not be reduced below the highest of its
individual fair value less costs to sell (if determinable), the present value of expected future cash flows (if determinable) and zero.
Once an impairment loss is recognized, it is not reserved in a subsequent period.
(5) Criteria of dividing the research phase and development phase of internal R&D project
Research is original and planned investigation undertaken with the prospect of gaining new scientific or technical knowledge and understanding. Development is the application of research
findings or other knowledge to a plan or design for the production of new or substantially improved materials, devices, or products before the start of commercial production or use.
(6) Calculation of the expenditures of internal R&D project
Expenditures of internal R&D project of the Group divides into expenditures on the research phase and expenditures on the development phase.
Expenditures on the research phase are recognized in profit or loss when incurred. Expenditures on the development phase are capitalized if development costs can be measured reliably, the
product or process is technically and commercially feasible, and the Group intends to and has sufficient resources to complete development. Capitalized development costs are stated at cost less
impairment losses in the balance sheet. Other development expenditures are recognized as expenses in the period in which they are incurred.
18. Amortization method of long-term deferred expenses
Long-term deferred expenses are amortized on a straight-line method within the benefit period:
Item Amortization period (years)
Cost of operating lease assets improvement 3-10 years
Cost of construction and use of public facilities 10-15 years
Others 3-10 years
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19. Estimated liabilities
(1) Criteria of estimated liabilities
A provision is recognized for an obligation related to a contingency if the Group has a present obligation that can be estimated reliably, and it is probable that an outflow of economic benefits
will be required to settle the obligation.
(2) Measurement of estimated liabilities
Where the effect of time value of money is material, provisions are determined by discounting the expected future cash flows.
20. Revenue
(1) Criteria for recognition time of revenue from sale of goods
Revenue is the gross inflow of economic benefit arising in the course of the Group’s ordinary activities when the inflows result in increase in shareholder’s equity, other than increase relating to
contributions from shareholders. Revenue is recognized in profit or loss when it is probable that the economic benefits will flow to the Group, the revenue and costs can be measured reliably
and the following respective conditions are met:
Revenue from sale of goods is recognized when all of the general conditions stated above and following conditions are satisfied:
–The significant risks and rewards of ownership of goods have been transferred to the buyer;
–The Group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold.
–Revenue from the sale of goods is measured at the fair value of the considerations received or receivable under the sales contract or agreement.
(2) Recognition basis of revenue from transferring use rights of assets
Revenue from rendering of services is measured at the fair value of the considerations received or receivable under the contract or agreement.
(3) Recognition basis of revenue from rendering labor services
The Group confirms amount of rendering services according to received or receivable contract or treaty.
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(4) Recognition basis and method for the schedule of contracted project when recognizing the revenue from providing labor services and construction
contract by percentage-of-completion method
In balance sheet date, if the outcome of labor services can be reliably estimated, revenue from rendering services shall be confirmed by percentage-of-completion method, progress of rendering
services shall be affirmed by percentage of labor services have already provided to total labor services should be provided.
As for the outcome of labor services can not be reliably estimated, if labor services expenses estimated can receive compensation, revenue from rendering services shall be confirmed by labor
services costs and carried down by the same amount; if labor services expenses estimated can not receive compensation, services costs shall be reckoned into current loss and gain and revenue
from providing labor services shall not be confirmed.
On balance sheet date, if the results of the construction contract could be reliable evaluated, the contract income and the contract expenditure should be recognized according to the completion
percentage method.
The Group recognized the progress of the contract completion according to the percentage of the accumulative actual happened contract cost among the expected total contract cost.
If the result of the construction contract couldn’t be reliable evaluated, the Group should dispose according to the follwing situations respectively:
If the contract cost could be returned, the contract income should be recognized according to the actual contract cost which could be returned, and the contract cost should be recognized as
contract expenditure during the period when happened;
If the contract cost could not be returned, should be recognized as contract expenditure at the time when happened, and not be recognized as contract income.
21. Government grants
(1) Types
Government grants consist of the government grants pertinent to assets and government grants pertinent to income. The government grants gained by the Company and for purchasing and
construction or for forming the long-term assets through other methods are as the government grants related to the assets, and the other government grants except for the assets-related grants that
gained by the Group are as the government grants related to the revenues.
(2) Accounting policy
A government grant related to an asset is recognized initially as deferred income and amortized to profit or loss on a straight-line basis over the useful life of the asset. A grant that compensates
the Group for expenses to be incurred in the subsequent periods is recognized initially as deferred income and recognized in profit or loss in the same periods in which the expenses are
recognized. A grant that compensates the Group for expenses incurred is recognized in profit or loss immediately
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22. Deferred income tax assets and liabilities
(1) Recognition basis of deferred income tax assets
The Group uses the balance sheet liability method to calculate its income tax, which is recognized in accordance with a difference between the carrying amount of an asset or liability and its tax
base (temporary difference). For any deductible loss that can be carried forward to the next year to deduct the income tax according to the stipulations of tax law, relevant deferred income tax
assets shall be recognized. The deferred income tax asset shall be determined to the extent that the amount of taxable income to be offset by the deductible loss or tax deduction to be likely
obtained. For the deductible temporary difference relating to the investments of the subsidiary companies, associated enterprises and joint enterprises, the enterprise shall recognize the
corresponding deferred income tax assets for those that meet the following requirements: the temporary differences are likely to be reversed in the expected future; and it is likely to acquire any
amount of taxable income that may be used for deducting the deductible temporary differences.
(2) Recognition basis of deferred income tax liabilities
The Group uses the balance sheet liability method to calculate its income tax, which is recognized in accordance with a difference between the carrying amount of an asset or liability and its tax
base (temporary difference). As for the temporary difference from the initial recognition of goodwill, no deferred income tax liabilities shall be recognized. The taxable temporary differences
relating to the investments of subsidiary companies, associated enterprises and joint enterprises shall recognized as corresponding deferred income tax liabilities, however, excluding those that
simultaneously satisfy the following conditions: the investing enterprise can control the time of the reverse of temporary differences; and the temporary differences are unlikely to reverse in the
excepted future.
23. Operating lease and finance lease
(1) Accounting treatments of operating lease
(a) Operating lease charges
Rental payments under operating leases are recognized as costs or expenses on a straight-line basis over the lease term.
(b) Assets leased out under operating leases
Fixed assets leased out under operating leases, except for investment property (see Note VIII (IV) 14 (3), are depreciated in accordance with the Group’s depreciation policies described in Note
VIII (IV) 14 (4). Impairment losses are provided for in accordance with the accounting policy. Income derived from operating leases is recognized in the income statement using the straight-line
method over the lease term. If initial direct costs incurred in respect of the assets leased out are material, the costs are initially capitalized and subsequently amortized in profit or loss over the
lease term on the same basis as the lease income. Otherwise, the costs are charged to profit or loss immediately.
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(2) Accounting treatments of finance lease
When the Group acquires an asset under a finance lease, the asset is measured at an amount equal to the lower of its faire values and the present value of the minimum lease payments, each
determined at the inception of the lease. The minimum lease payments are recorded as long-term payables. The difference between the value of the leased assets and the minimum lease
payments is recognized as unrecognized finance charges. Initial direct costs that are attributable to a finance lease incurred by the Group are added to the amounts recognized for the leased asset.
Depreciation and impairment losses are accounted for in accordance with the accounting policies described in Note VIII (IV) 14 (3) and Note VIII (IV) 14 (4), respectively.
If there is reasonable certainty that the Group will obtain ownership of a leased asset at the end of the lease term, the leased asset is depreciated over its estimated useful life. Otherwise, the
leased asset is depreciated over the shorter of the lease term and its estimated useful life.
Unrecognized finance charge under finance lease is amortized using an effective interest method over the lease term. The amortization is accounted for in accordance with policies of borrowing
costs.
At the balance sheet date, long-term payables arising from finance leases, net of the unrecognized finance charges, are presented into long-term payables and non-current liabilities due within
one year, respectively in the balance sheet.
(3) Accounting disposal of leaseback
24. Assets held for sale
(1) Recognition criteria of available-for-sale assets
A non-current asset is classified as held for sale when the Group has made a decision and signed a non-cancelable agreement on the transfer of the asset with the transferee, and the transfer is
expected to be completed within one year. Such non-current assets may be fixed assets, intangible assets, and investment property subsequently measured using the cost model, long-term equity
investment etc. (not includes financial assets and deferred income tax assets).
(2) Accounting treatments of the assets held for sale
Non-current assets held for sale are stated at the lower of carrying amount and net realizable value. Any excess of the carrying amount over the net realizable value is recognized as impairment
loss. At balance sheet date, non-current assets held for sale are still presented under corresponding asset classification as they were.
25. Changes in main accounting policies and estimates
Were the main accounting policies or estimates changed during the reporting period?
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
□Yes √ No
(1) Change of accounting policies
Were the main accounting policies changed during the reporting period?
□Yes √ No
(2) Change of accounting estimates
Were the main accounting estimates changed during the reporting period?
□Yes √ No
26. Correction of previous accounting errors
Was any accounting error made in previous periods discovered in the reporting period?
□Yes √ No
(1) Retrospective restatement method
Was any previous accounting errors adopting retrospective restatement method discovered in the reporting period?
□Yes √ No
(2) Prospective application method
Was any previous accounting errors adopting prospective application method discovered in the reporting period?
□Yes √ No
27. Other main accounting policies, accounting estimates as well as compilation method of financial statements
(1) Related parties
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
If a party has the power to control, jointly control or exercise significant influence over another party, or vice versa, or where two or more parties are subject to common control, joint control, or
significant influence from another party, they are considered to be related parties. Related parties may be individuals or enterprises. Enterprises with which the Company is under common
control only from the State and that have no other related party relationships are not regarded as related parties of the Group. Related parties of the Group and the Company include, but are not
limited to:
(a) the Company’s parent
(b) the Company’s subsidiaries
(c) enterprises that are controlled by the Company’s parent
(d) investors that have joint control or over exercise significant influence over the Group
(e) enterprise or individuals if a party has control, joint control or significant influence over both the enterprises or individuals and the Group
(f) joint ventures of the Group, including subsidies of joint ventures
(g) associates of the Group, including subsidies of associates
(h) principal individual investors and close family members of such individuals
(i) key management personnel of the Group and close family members of such individuals
(j) key management personnel of the Company’s parent
(k) close family members of key management personnel of the Company’s parent; and
(l) other enterprises that are jointly controlled or significantly influenced by principal individual investors, key management personnel of the Group, and close family members of such
individuals.
Besides the related parties stated above determined in accordance with the requirements of CAS, the following enterprises and individuals are considered as (but not restricted to) related parties
based on the disclosure requirements of “Administrative Procedures on the Information Disclosures of Listed Companies” issued by the CSRC:
(m) enterprises, or persons that act in concert, that hold 5% or more of the Company’s shares
(n) individuals and close family members of such individuals who directly or indirectly hold 5% or more of the Company’s shares
(o) enterprises that satisfy any of the aforesaid conditions in (a), (c) and (m) during the past 12 months or will satisfy them within the next 12 months pursuant to a relevant agreement
(p) individuals who satisfy any of the aforesaid conditions in (i), (j) and (n) during the past 12 months or will satisfy them within the next 12 months pursuant to a relevant agreement; and
(q) enterprises, other than the Company and subsidiaries controlled by the Company, which are controlled directly or indirectly by an individual defined in (i), (j), (n) or (p), or in which such an
individual assumes the position of a director or senior executive.
(2) Segment reporting
Reportable segments are identified based on operating segments which are determined based on the structure of the Group’s internal organization, management requirements and internal
reporting system. An operating segment is recognized when all of the following conditions have been satisfied:
– the component engages in business activities from which it may earn revenues and incur expenses;
– whose operating results are regularly reviewed by the Group’s management to make decisions about resource to be allocated to the segment and assess its performance; and
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
– for which financial information regarding financial position, results of operations and cash flows is available.
Two or more operating segments may be aggregated into a single operating segment if the segments have similar economic characteristics, and are similar in respect of the following conditions:
– The nature of products and services
– The nature of production processes
– The type or class of customers for the products and services
– The methods used to distribute the products or provide the services
– The nature of the regulatory environment
When the Group drafts the report of an operating segment, transaction income from operating segments is measured at the basis of actual transaction price. Policies adopts in preparing the report
of an operating segment shall in accordance with accounting policies adopted in the preparation of financial statements of the Group.
V. Taxation
1. Main types of taxes and corresponding rates
Category of taxes Tax basis Tax rate
Output VAT is calculated on product sales and taxable services revenue, based on tax laws. The remaining balance of output VAT, 6%，
VAT
after subtracting the deductible input VAT of the period, is VAT payable. 17%
Consumption tax Naught N/A
Business tax Based on taxable revenue of sales 5%
City maintenance and construction tax Based on business tax paid and VAT payable 7%，5%
Enterprise income tax Based on taxable revenue 0-25%
Extra charge of education funds and extra charge
Based on business tax paid and VAT payable 3%，2%
of local education funds
The income tax rates adopted by each subsidiary and branch factory
The companies of the Group enjoying the preferential tax rate of enterprise income tax are as follows:
1. The national specially supported hi-tech enterprises include: Beijing BOE Optoelectronics Technology Co., Ltd., Chengdu BOE Optoelectronics Technology Co., Ltd., Hefei BOE
Optoelectronics Technology Co., Ltd., BOE (Hebei) Mobile Display Technology Co., Ltd., BOE Electricity Technology Co., Ltd., BOE Hyundai LCD (Beijing) Display Technology Co., Ltd.,
Beijing BOE Special Display Technology Co., Ltd., Beijing BOE Vacuum Electronics Co., Ltd., BOE Semi-conductor Co., Ltd., Beijing Asahi Electron Glass Co., Ltd., Beijing BOE Vacuum
Technology Co., Ltd. and Beijing BOE Multimedia Technology Co. Ltd. Their enterprise income tax rates in 2012 are all 15%.
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
2. The foreign-invested enterprises enjoying “2-year exemption and 3-year 50% reduction” during the transition period of enterprise income tax: BOE (Hebei) Mobile Technology Co., Ltd., its
enterprise income tax rate in 2014 is 12.5%.
Except the above companies enjoying the tax preference and the overseas subsidiaries enjoying local taxes, other companies of the Group adopt a tax rate of 25%.
2. Tax preference and official documents
1. Enterprise income tax preference
Name of company enjoying the preferential policy Tax rate Basis of policy Approval authority, approval document No. and valid period
BEO Technology Group Co., Ltd. 15% The Company obtained the certificate of high-tech enterprise numbered
GF201111000469 on 14 Sept. 2011, which was entitled jointly by Beijing
Municipal Science & Technology Commission, Finance Bureau of Beijing,
Beijing Municipal Office of State Administration of Taxation, and Beijing Local
Taxation Bureau, subject to a preferential enterprise income tax rate of 15%
within the valid period three years.
15% According to the Order No. 63 of the The Company obtained the certificate of high-tech enterprise numbered
Chairman of the People's Republic of GF201111000041 on 14 Sept. 2011, which was entitled jointly by Beijing
Beijing BOE China—the Corporate Income Tax Law Municipal Science & Technology Commission, Finance Bureau of Beijing,
Optoelectronics Technology Co., Ltd. of the People’s Republic of China Beijing Municipal Office of State Administration of Taxation, and Beijing Local
(“new tax law”) treatment No. 28, Taxation Bureau, subject to a preferential enterprise income tax rate of 15%
corporate income tax for key advanced within the valid period three years.
15% and high-tech enterprises supported by The Company obtained the certificate of high-tech enterprise number
the State shall be at a preferential tax GR201351000009 on 20 Jun. 2013, which was entitled jointly by Science &
rate of 15%. Technology Department of Sichuan Province, Finance Bureau of Sichuan
Chengdu BOE Optoelectronics Technology Co., Ltd.
Province, Sichuan Provincial Office, SAT and Sichuan Local Taxation Bureau,
subject to a preferential enterprise income tax rate of 15% within the valid period
three years.
15% The Company obtained the certificate of high-tech enterprise number
Hefei BOE Optoelectronics Technology Co., Ltd GR201334000052 on 12 Jul. 2013, which was entitled jointly by Science &
Technology Bureau of Anhui Province, Anhui Provincial Department of Finance,
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Anhui Provincial Office of SAT and Local Taxation Bureau of Anhui Province,
subject to a preferential enterprise income tax rate of 15% within the valid period
three years.
BOE Orient LCD (Beijing) Display Technology Co., 15% The Company obtained the certificate of high-tech enterprise numbered
Ltd. GF201211001010 on 13 Dec. 2012, which was entitled jointly by Beijing
Municipal Science & Technology Commission, Finance Bureau of Beijing,
Beijing Municipal Office of State Administration of Taxation, and Beijing Local
Taxation Bureau, subject to a preferential enterprise income tax rate of 15%
within the valid period three years.
BOE (Hebei) Mobile Display Technology Co., Ltd. 15% The Company obtained the certificate of high-tech enterprise number
GR201211001010 on 13 Dec. 2012, which was entitled jointly by Science &
Technology Bureau of Hebei Province, Hebei Provincial Department of Finance,
Hebei Provincial Office of SAT and Local Taxation Bureau of Hebei Province,
subject to a preferential enterprise income tax rate of 15% within the valid period
three years.
BOE Electricity Technology Co., Ltd. 15% The Company obtained the certificate of high-tech enterprise number
GR201132000300 on 9 Sep. 2011, which was entitled jointly by Science &
Technology Bureau of Jiangsu Province, Jiangsu Provincial Department of
Finance, Jiangsu Provincial Office of SAT and Local Taxation Bureau of Hebei
Province, subject to a preferential enterprise income tax rate of 15% within the
valid period three years.
Beijing BOE Chatani Electronics Co., Ltd. 15% The Company obtained the certificate of high-tech enterprise numbered
GF201211000565 on 4 May. 2012, which was entitled jointly by Beijing
Municipal Science & Technology Commission, Finance Bureau of Beijing,
Beijing Municipal Office of State Administration of Taxation, and Beijing Local
Taxation Bureau, subject to a preferential enterprise income tax rate of 15%
within the valid period three years.
BOE Hyundai LCD (Beijing) Display Technology Co., 15% Obtained High-tech Enterprises Certificate No GR200911002274 jointly issued
Ltd. by Beijing Municipal Science & Technology Commission, Beijing Municipal
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Financial Bureau, Beijing Municipal State Administration of Taxation and Beijing
Municipal Local Administration of Taxation on 26 June 2009. Subject to a
preferential enterprise income tax rate of 15% within the valid period of three
years.
15% Obtained once again the High-tech Enterprises Certificate No GF201111000395
jointly issued by Beijing Municipal Science & Technology Commission, Beijing
Municipal Financial Bureau, Beijing Municipal State Administration of Taxation
Beijing BOE Vacuum Electronics Co., Ltd.
and Beijing Municipal Local Administration of Taxation on 14 Sept. 2011.
Subject to a preferential enterprise income tax rate of 15% within the valid period
of three years.
15% Obtained once again the High-tech Enterprises Certificate No GF201111000163
jointly issued by Beijing Municipal Science & Technology Commission, Beijing
Municipal Financial Bureau, Beijing Municipal State Administration of Taxation
BOE Semi-conductor Co., Ltd.
and Beijing Municipal Local Administration of Taxation on 14 Sept. 2011.
Subject to a preferential enterprise income tax rate of 15% within the valid period
of three years.
15% Obtained High-tech Enterprises Certificate No GR200911000589 jointly issued
by Beijing Municipal Science & Technology Commission, Beijing Municipal
Financial Bureau, Beijing Municipal State Administration of Taxation and Beijing
Beijing Asahi Electron Glass Co., Ltd.
Municipal Local Administration of Taxation on 26 June 2009. Subject to a
preferential enterprise income tax rate of 15% within the valid period of three
years.
15% Obtained High-tech Enterprises Certificate No GR200911000084 jointly issued
by Beijing Municipal Science & Technology Commission, Beijing Municipal
Financial Bureau, Beijing Municipal State Administration of Taxation and Beijing
Beijing BOE Vacuum Technology Co., Ltd.
Municipal Local Administration of Taxation on 27 May 2009. Subject to a
preferential enterprise income tax rate of 15% within the valid period of three
years.
Beijing BOE Multimedia Technology Co. Ltd. 15% Obtained High-tech Enterprises Certificate No GR201111000485 jointly issued
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
by Beijing Municipal Science & Technology Commission, Beijing Municipal
Financial Bureau, Beijing Municipal State Administration of Taxation and Beijing
Municipal Local Administration of Taxation on 21 Nov. 2011. Subject to a
preferential enterprise income tax rate of 15% within the valid period of three
years.
2. Customs VAT and tariff tax preference:
Name of company enjoying the preferential policy Basis of policy Approval authority, approval document No. and valid period
In accordance with CS[2010] No. 100—Circular on Refund the On 4 Nov. 2010, Ministry of Finance and State Administration
Closing Retained Tax Deduction for of Taxation jointly issued the CS[2010] No. 100, approving to
the Imported Devices VAT of Partial Projects jointly issued by refund the closing retained tax deduction for the imported
Hefei BOE Optoelectronics Technology Co., Ltd.
Ministry of Finance and State Administration of Taxation, devices VAT of partial projects, such document executed
approving to refund the closing retained tax deduction for the from 1 Dec. 2010.
imported devices VAT of partial projects.
In accordance with CS[2011] No. 107—Circular on Refund the On 14 Nov. 2011, Ministry of Finance and State Administration
Closing Retained Tax Deduction for the Procured Equipments of Taxation jointly issued the CS[2011] No. 107, approving to
Beijing BOE Display Technology Co., Ltd., Hefei BOE VAT of IC Enterprises jointly issued by Ministry of Finance refund the closing retained tax deduction for the procured
Optoelectronics Technology Co., Ltd. and State Administration of Taxation, approving to refund the equipments VAT of IC significant enterprises, such document
Hefei Xinchengguang Electronic Technology Co., Ltd. closing retained tax deduction for the procured equipments executed from 1 Jan. 2011.
VAT of IC significant enterprises.
In accordance with CGS[2012] No. 17— Circular on Relevant On 21 Mar. 2012, the Ministry of Finance and General
Policies about Installed Tax Payment for the VAT of Administration of Customs jointly issued the CGS[2012] No.
Significant Imported Devices of New Flat Panel Display Items 17, approving he new plat panel display significant enterprises
Beijing BOE Display Technology Co., Ltd., Ordos Yuansheng jointly issued by the Ministry of Finance and General to pay the VAT of imported new devices by installment, such
Optoelectronics Co., Ltd. Administration of Customs, approved the new plat panel document executed from 1 Jan. 2011.
display significant enterprises to pay the VAT of imported new
devices by installment.
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
In Apr. 2012, the Ministry of Finance issued the CGS [2012] On 4 Nov. 2012, the Ministry of Finance, General
No. 16, stipulating to provide the tariff and import VAT Administration of Customs and State Administration of
exemption and deduction for the building materials, auxiliary Taxation jointly issued the CS [2012] No. 16, providing the tax
systems, equipment accessories in clean room (unavailable from preferential policy of VAT and tariff for y new display devices
Beijing BOE Display Technology Co., Ltd. domestic companies) imported by new display devices significant imported enterprises, the valid period of such
enterprises; and provide tariff exemption and deduction for document is from 1 Jan. 2012 to 31 Dec. 2015.
production raw materials and consumption materials
(unavailable from domestic companies) imported by new
display devices enterprises.
Hefei Xinsheng Optoelectronics Technology Co., Ltd. In Apr. 2013, the Ministry of Finance issued the CGS [2013] In Apr. 2013, the Ministry of Finance, General Administration
Ordos Yuansheng Optoelectronics Co., Ltd. No. 25, affirmed that Hefei Xinsheng Optoelectronics of Customs and State Administration of Taxation jointly issued
Technology Co., Ltd. and Ordos Yuansheng Optoelectronics the CS [2013] No. 25, providing the tax preferential policy of
Co., Ltd. have the qualification of enjoying the enterprise VAT and tariff for y new display devices significant imported
import taxes policies of the new type display device production. enterprises, the valid period lasts to the end of Y2015.
VI. Business combination and consolidated financial statements
1. Subsidiaries
(1) Subsidiaries obtained by establishment and investment
Unit: RMB Yuan
Balance of
parent
The company’s
Actual amount Other The Included in Deductible
Registered Business Registered Business proportion Minority equity
Subsidiaries Type of investments essential proportion of consolidated minority
place nature capital scope of holding interest after
at the period-end investment voting rights statement interests
shares deducting
the
difference
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
that loss of
minority
interests
exceed
equity
obtained
by
minority
shareholde
rs
Beijing BOE Manufacture
Other Manufacture of
Vacuum and sale of
limited Beijing, electronic RMB 60,998,794.
Electronics Co., vacuum 19,250,000.00 0.00 55.00% 55.00% Yes 0.00 0.00
liability China vacuum 35,000,000 00
Ltd. (Vacuum electronic
company devices
Electronics) products
Beijing BOE Manufacture
Vacuum Manufacture of and sale of
Limited
Technology Co., Beijing, electronic RMB electronic
liability 32,000,000.00 0.00 100.00% 100.00% Yes 0.00 0.00 0.00
Ltd. China vacuum 32,000,000 tubes
company
(Vacuum devices
Technology)
Beijing BOE Development Developmen
Special Display of display t of display
Limited
Technology Co., Beijing, products and RMB products and
liability 80,000,000.00 0.00 100.00% 100.00% Yes 0.00 0.00 0.00
Ltd. (Special China sale of 80,000,000 sale of
company
Display) electronic electronic
products products
Beijing Yinghe Other RMB Lease and
Beijing, Property
Century Co., limited 233,105,20 operation of 333,037,433.00 0.00 100.00% 100.00% Yes 0.00 0.00 0.00
China management
Ltd. (Yinghe liability 0 offices and
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Century) company middle
grade hotel
houses;
business and
entertainme
nt service;
toll parking
lots
Suzhou BOE Developmen
Chatani t and
Electronics Co., Manufacture of manufacture
Limited RMB
Ltd. (Suzhou Suzhou, electronic of backlight 1,400,784.0
liability 337,710,42 329,961,914.00 0.00 90.51% 90.51% Yes 0.00 0.00
Chatani) China components and related 0
company 4
and parts parts and
components
for LCD
BOE Hyundai Developmen
LCD (Beijing) t,
Display manufacture
Limited Manufacture of
Technology Co., Beijing, USD and sale of 28,471,069.
liability electronic 31,038,525.00 0.00 75.00% 75.00% Yes 0.00 0.00
Ltd. (BOE China 5,000,000 liquid 00
company devices
Hyundai) display for
mobile
termination
Beijing BOE Research,
Optoelectronics Limited USD development
Beijing, Manufacture of 4,172,288,084.0 761,685,270
Technology Co., liability 649,110,00 , design and 0.00 82.49% 82.49% Yes 0.00 0.00
China TFT-LCD 0 .00
Ltd. (BOEOT) company 0 manufacture
of TFT-LCD
BOE (Hebei) Limited Langfang, Manufacture of USD Manufacture 518,140,140.00 0.00 94.06% 94.06% Yes 36,803,327. 0.00 0.00
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Mobile liability China electronic 84,150,000 and sale of 00
Technology Co., company device mobile flat
Ltd. (BOE screen
Hebei) display
technical
products and
related
services
Beijing BOE Developmen
Display Other t of
USD
Technology Co., limited Beijing, Manufacture of TFT-LCD, 17,237,999,999. 179,666,248
17,377,199, 0.00 99.01% 99.01% Yes 0.00 0.00
Ltd. (BOE liability China TFT-LCD manufacture 00 .00
300
Display) company and sale of
LCD
Beijing BOE Sale of
computer
Multimedia software and
Limited Sales of RMB
Technology Beijing, hardware 、 15,957,753.
liability electronic 400,000,00 the numeral 400,000,000.00 0.00 100.00% 100.00% Yes 0.00 0.00
Co. Ltd. China regards the 00
company products 0
(Multimedia audio
frequency
BOE) technology
Beijing BOE Integration
Energy and
Technology Co., application
Ltd. (BOE Integration and of
Limited
Energy) Beijing, application of RMB photovoltaic
liability 50,000,000.00 0.00 100.00% 100.00% Yes 0.00 0.00 0.00
China photovoltaic 50,000,000 system sale
company
system of
photovoltaic
system and
ancillary
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
facilities
Manufacture
of LCD TV,
LCD;
technology
Beijing BOE
R&D and development
Video Limited RMB
Beijing, manufacture of of terminal 13,982,014.
Technology Co., liability 560,000,00 560,000,000.00 0.00 100.00% 100.00% Yes 0.00 0.00
China electronic products and 00
Ltd. (BOE company 0
products systems
Video)
such as
TFT-LCD
display and
TV
Technology
Beijing promotion,
Zhongpingxun Limited property
Beijing, Property RMB
Technology Co., liability management 10,000,000.00 0.00 100.00% 100.00% Yes 0.00 0.00 0.00
China management 10,000,000
Ltd. (Beijing company , and sale of
Zhongpingxun) electronic
products
Technology
Beijing promotion,
Zhongxiangying Limited property
Beijing, Property RMB
Technology Co., liability management 10,000,000.00 0.00 100.00% 100.00% Yes 0.00 0.00 0.00
China management 10,000,000
Ltd. (Beijing company , and sale of
Zhongxiangying) electronic
products
Erdos Haosheng Other
Ordos, Energy RMB Energy
Energy limited 10,000,000.00 0.00 100.00% 100.00% Yes 0.00 0.00 0.00
China Investment 30,000,000 investment
Investment Co., liability
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Ltd. (“Haosheng company
Energy”)
Ordos Manufacture
Yuansheng and sales of
Limited RMB
Optoelectronics Ordos, Manufacture of AM-OLED 6,104,000,000.0
liability 6,104,000,0 0 100% 100% Yes 0.00 0 0
Co., Ltd. China AM-OLED products and 0
company 00
(Yuansheng auxiliary
Optoelectronics) products
Processing,
manufacturi
ng and sales
of precision
electronic
components,
semi-conduc
tor devices
Manufacture of
and micro
Beijing BOE photoelectronic
Limited module;
Semi-conductor Beijing, device and RMB 10,633,231. -359,704.0
liability micro-electr 9,450,000.00 0 80.77% 80.77% Yes 0
Co., Ltd. (BOE China other 11,700,000 00 0
company onics
Semi-conductor ) electronic
devices and
device
electronic
materials;
projects of
communicat
ions, radio
and
television
equipment
Beijing BOE Limited Beijing, Property RMB Developmen 7,731,474.00 0 70% 70% Yes 34,358,022. 0 0
108
2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Land Co., Ltd. liability China management 55,420,000 t, 00
(BOE Land) company construction
, property
management
and
auxiliary
services for
industrial
plants and
ancillary
facilities;
Real estate
information
consultancy
(excluding
intermediary
services);
Lease of
commercial
facilities,
services and
other
supporting
service
facilities
Beijing BOE R&D,
Digital Limited Manufacture of production
Beijing, USD
Technology Co., liability home video and sales of 12,416,550.00 0 75% 75% Yes 23,913.00 0 0
China 10,000,000
Ltd. (BOE company equipment self-produce
Digital) d digital
109
2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
camera and
digital video
products
through
wireless
transmission
platform
Beijing BOE
Limited Sales of Sales of
Marketing Co., Beijing, RMB
liability electronic LCD 500,000.00 0 100% 100% Yes 0.00 0 0
Ltd. (BOE China 500,000
company products products
Marketing)
BOE (Korea) Limited Seongnam, Sales of Sales of
USD
Co., Ltd. ("BOE liability Gyeonggi, electronic electronic 788,450.00 0 100% 100% Yes 0.00 0 0
100,000
Korea") company Korea products products
Design,
Design,
manufacture
manufacture,
BOE ,trade,
trade,
Optoelectronics investment
Limited British investment and
Holding Co., USD and
liability Virgin financing 1,984,685.00 0 100% 100% Yes 0.00 0 0
Ltd. 600,000 financing
company Islands activities of
(Optoelectronics activities of
electronic
Holding) electronic
information
information
industry
industry
Other notes to subsidiaries obtained by establishment and investment:
Naught
(2) Subsidiaries obtained by business combination under the same control
Unit: RMB Yuan
110
2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Balance of
parent
company’s
equity after
deducting
Actual the
The The
amount of Other Included in Deductible difference
Registered Business Registered Business proportion proportion Minority
Subsidiaries Type investments essential consolidated minority that loss of
place nature capital scope of holding of voting interest
at the investment statement interests minority
shares rights
period-end interests
exceed
equity
obtained by
minority
shareholders
Naught
Notes about subsidiaries obtained by business combination under the same control
(3) Subsidiaries obtained by business combination not under the same control
Unit: RMB Yuan
Balance of
parent
The The company’s
Other
Actual amount of proportio proportio Included in Deductibl equity after
Registere Business essential Minority
Subsidiaries Type Registered capital Business scope investments at n of n of consolidate e minority deducting
d place nature investmen interest
the period-end holding voting d statement interests the
t
shares rights difference
that loss of
minority
111
2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
interests
exceed
equity
obtained by
minority
shareholder
s
Chengdu BOE Other TFT-LCD;
Optoelectronics limited R&D,
Chengdu, Manufacture RMB
Technology Co., liability production and 1,833,149,991.00 0.00 100.00% 100.00% Yes 0.00 0.00 0.00
China of TFT-LCD 1,830,000,000
Ltd. (Chengdu compan sales of
Optoelectronics) y TFT-LCD
Manufacture
of Sales of TV
Beijing Asahi Limited
optoelectroni bracket glass rod
Glass Electronics liability Beijing,
c devices and RMB 61,576,840 and CTV 30,888,470.00 0.00 100.00% 100.00% Yes 0.00 0.00 0.00
Co., Ltd. (Asahi compan China
other low-melting-poi
Glass) y
electronic nt solder glass
devices
One
Hefei BOE person R&D,
Optoelectronics limited Hefei, Manufacture RMB production and
9,000,000,000.00 0.00 100.00% 100.00% Yes 0.00 0.00 0.00
Technology Co., liability China of TFT-LCD 9,000,000,000 sales of
Ltd. (Hefei BOE) compan TFT-LCD
y
Other
BeijingMatsushit Property
limited
a Color CRT Co., Beijing, Property RMB management and 145,908,234.0
liability 424,823,089.00 0.00 88.80% 88.80% Yes 0.00 0.00
Ltd. (Matsushita China management 1,240,754,049 parking service, 0
compan
Color CRT) etc.
y
112
2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Other
Hefei Xinsheng R&D,
limited
Optoelectronics Hefei, Manufacture RMB production and 15,495,000,000.0
liability 0.00 79.49% 79.49% Yes 0.00 0.00 0.00
Technology Co., China of TFT-LCD 19,500,000,000 sales of 0
compan
Ltd. TFT-LCD
y
Chongqing BOE Other TFT-LCD;
Optoelectronics limited R&D,
Chengdu, Manufacture RMB7,326,000,00 502,721,216.0
Technology Co., liability production and 6,839,669,199.00 0.00 93.17% 93.17% Yes 0.00 0.00
China of TFT-LCD 0 0
Ltd. (Chongqing compan sales of
BOE) y TFT-LCD
Other notes to subsidiaries obtained by business combination not under the same control:
Naught
113
2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
2. Explanation on changes in consolidated scope
According to
(announcement No. 2014-035) disclosed by the Company on 24 May 2014, the said equity acquisition was completed. After the
acquisition, the Company held a 51.27% stake in Chongqing BOE, making it the controlling shareholder of Chongqing BOE. As
such, Chongqing BOE was consolidated.
√Applicable □Inapplicable
Comparing to last year, this year increased 1 consolidation unit, because
Enterprise consolidation under the same control
Comparing to last year, this year decreased none consolidation unit, because
3. Subsidiaries that newly and no longer combined into consolidation scope in the reporting period
The subsidiaries, special purpose entities and operating entities with control right formed by entrusted operation or lease that newly
included in the consolidated scope
Unit: RMB Yuan
Name Closing net assets Net profit in current period
Chongqing BOE Optoelectronic Technology Co., Ltd. 7,322,919,662.00 -1,652,082
The subsidiaries, special purpose entities and operating entities with control right formed by entrusted operation or lease that not
longer included in the consolidated scope
Unit: RMB Yuan
Net profit from year-begin to
Name Net asset at the disposal date
disposal date
Naught
Other notes to changes in consolidated scope:
Naught
4. Business combination not under the same control during the reporting period
Unit: RMB Yuan
The combined party Amount of goodwill Calculation method of goodwill
The outcome of investment costs of mergering
Chongqing BOE Optoelectronic
0.00 enterprises and fair value of net assets of mergered
Technology Co., Ltd.
enterprises
Other notes to business combination not under same control:
Naught
Whether there was any situation of multiple transactions which realized the enterprise merger step by step and gained the control
right during the reporting period?
□ Applicable √ Inapplicable
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
5. Exchange rates of major items in financial statements for foreign entities
Depreciation rate in main financial statement Average exchange rate of currencies at period-end
USD 6.1528 6.1365
JPY 0.0608 0.0599
HKD 0.7938 0.7912
VII. Notes on major items in consolidated financial statements of the Company
1. Monetary funds
Unit: RMB Yuan
Closing balance Opening balance
Item Amount in Exchange Amount in Exchange
Amount in RMB Amount in RMB
foreign currency rate foreign currency rate
Cash: -- -- 372,323.00 -- -- 390,112.00
RMB -- -- 177,202.00 -- -- 178,691.00
USD 11,872.00 615.28% 73,043.00 12,119.00 609.69% 73,888.00
HKD 9,666.00 79.38% 7,672.00 9,665.00 78.62% 7,599.00
JPY 102,351.00 6.08% 6,225.00 83,566.00 5.78% 4,830.00
KRW 513,773.00 0.61% 3,152.00 615,189.00 0.57% 3,510.00
Other currency 105,029.00 121,594.00
Bank deposition -- -- 40,969,561,750.00 -- -- 16,474,585,737.00
RMB -- -- 39,078,296,025.00 -- -- 13,658,469,673.00
USD 299,735,610.00 615.28% 1,844,213,261.00 412,313,423.00 609.69% 2,513,834,777.00
HKD 1,215,859.00 79.38% 965,088.00 1,215,642.00 78.62% 955,738.00
JPY 576,185,054.00 6.08% 35,043,575.00 5,146,530,617.00 5.78% 297,320,468.00
KRW 1,038,857,702.00 0.61% 6,373,392.00 378,474,561.00 0.57% 2,157,305.00
Other currency 4,670,409.00 1,847,776.00
Other monetary funds -- -- 3,621,411,822.00 -- -- 3,989,577,573.00
RMB -- -- 2,894,052,737.00 -- -- 3,279,798,350.00
USD 111,165,316.00 615.28% 683,977,956.00 103,893,919.00 609.69% 633,430,833.00
HKD 713,270,783.00 6.08% 43,381,129.00 1,321,587,877.00 5.78% 76,348,390.00
Total -- -- 44,591,345,895.00 -- -- 20,464,553,422.00
Special explanation shall be made for the accounts limited by being mortgaged, pledged or frozen, deposited overseas or with
potential collecting risks:
115
2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
On 30 Jun. 2014, the Group pledged RMB374,934,970and USD 643,047,599 under other monetary funds to gain short-term loan.
The remaining other monetary funds valued RMB2,603,429,252 (as of 2013 RMB 3,266,667,662) was the warranty deposit
deposited in commercial banks.
2. Notes receivable
(1) Category of notes receivable
Unit: RMB Yuan
Category Closing balance Opening balance
Bank acceptance bill 441,105,086.00 562,223,076.00
Commercial acceptance bill 790,000.00 3,200,000.00
Total 441,895,086.00 565,423,076.00
(2) Notes receivable pledged at period-end
Unit: RMB Yuan
Issuing entity Date of issuance Expiring date Amount Remark
Naught
(3) Notes transferred to accounts receivable because drawer of the notes fails to execute the contract or
agreement, and undue notes endorsed to other parties at the end of the period
Notes transferred to accounts receivable because drawer of the notes fails to execute the contract or agreement
Unit: RMB Yuan
Issuing entity Date of issuance Expiring date Amount Remark
Naught
Notes:
Naught
Undue notes endorsed to other parties by the Company
Unit: RMB Yuan
Issuing entity Date of issuance Expiring date Amount Remark
Entity 1 17 Mar. 2014 15 Jul. 2014 10,564,279.00
Entity 2 22 Apr. 2014 22 Jul. 2014 10,000,000.00
Entity 3 16 May 2014 18 Aug. 2014 10,000,000.00
Entity 4 16 May 2014 18 Aug. 2014 10,000,000.00
Entity 5 28 May 2014 28 Aug. 2014 10,000,000.00
Total -- -- 50,564,279.00 --
Note:
Naught
116
2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Notes of commercial acceptance bill that already discounted or pledged:
Naught
3. Dividends receivable
Unit: RMB Yuan
Whether relating
Opening Reason for
Item Increase Decrease Closing amount accounts occur
amount unrecoverable
impairment
Dividends receivable aging
0.00 0.00 0.00 0.00
less than one year
Of which: -- -- -- -- -- --
Dividends receivable aging
0.00 0.00 0.00 0.00
over one year
Of which: -- -- -- -- -- --
Total 0.00 0.00 0.00 0.00 -- --
Notes
4. Interest receivable
(1) Interest receivable
Unit: RMB Yuan
Item Opening amount Increase Decrease Closing amount
Bank deposit interest 109,045,546.00 233,877,233.00 131,393,208.00 211,529,571.00
Total 109,045,546.00 233,877,233.00 131,393,208.00 211,529,571.00
(2) Overdue interest
Unit: RMB Yuan
Borrowing entity Overdue days (day) Amount of overdue interest
Naught
(3) Notes to interest receivable
On 30 Jun. 2014, there was no any account of the shareholders who held 5% (including 5%) of the interest receivable of the
Company (Y2013: naught).
On 30 Jun. 2014, there was no any individual significant overdue interest receivable of the Group (Y2013: naught).
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
5. Accounts receivable
(1) Accounts receivable listed by categories
Unit: RMB Yuan
Closing balance Opening balance
Book balance Bad debt provision Book balance Bad debt provision
Category
Proportio Proportio Proportio Proportio
Amount Amount Amount Amount
n n n n
Accounts
receivable with
significant single
amount and 0.00 0.00% 0.00 0.00% 0.00 0.00% 0.00 0.00%
individually
withdrawn bad
debt provision
Accounts receivable for which bad debt provisions are made on the group basis
Portfolio of
5,116,996,092
credit risk 99.77% 0.00 0.00% 4,838,888,759.0 99.36% 0.00 0.00%
.00
0
Subtotal of the
5,116,996,092
groups 99.77% 0.00 0.00% 4,838,888,759.0 99.36% 0.00 0.00%
.00
0
Accounts
receivable
with
insignificant
6,529,011.0 54.53% 14,361,786.0 45.72%
single amount 11,972,500.00 0.23% 0.64%
0 31,411,549.00 0
and
individually
withdrawn bad
debt provision
5,128,968,592.0
Total -- 6,529,011.00 -- 4,870,300,308.00 -- 14,361,786.00 --
0
Notes to category of accounts receivable
Accounts receivable with significant single amount and individually withdrawn bad debt provision
□Applicable √Inapplicable
In the groups, accounts receivable adopting aging analysis method to withdraw bad debt provision:
□Applicable √Inapplicable
In the groups, accounts receivable adopting balance percentage method to withdraw bad debt provision
□Applicable √ Inapplicable
In the groups, accounts receivable adopting other methods to withdraw bad debt provision
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
√ Applicable □Inapplicable
Unit: RMB Yuan
Name of equity Book balance Provision for bad-debt
Portfolio of credit risk 5,116,996,092.00 0.00
Total 5,116,996,092.00 0.00
Other closing individually insignificant but provisions for bad debts individually accounts receivable:
√Applicable □Inapplicable
Unit: RMB Yuan
Content of accounts
Book balance Provision for bad debt Withdrawing proportion Reason
receivable
54.53% Calculated by collectable
Loan 11,972,500.00 6,529,011.00
amount
Total 11,972,500.00 6,529,011.00 -- --
(2) Accounts receivable reversed or collected in the reporting period
Unit: RMB Yuan
Recognition basis of Reversed or collected
Content of accounts Reversed or collected Reversed or collected
original bad debt amount of the accrued
receivable reason amount
provision bad debt provision
After measurement, it
According to expected
Loan is expected can be 6,280,412.00 5,722,473.00
receivable amounts
received.
Total -- -- 6,280,412.00 --
The withdrawal of bad debt provision of accounts receivable with significant single amount or insignificant single amount but
individually made impairment test at the end of reporting period:
Unit: RMB Yuan
Content of accounts
Book balance Bad debt amount Withdrawing proportion Reason
receivable
Calculated by collectable
Loan 11,972,500.00 6,529,011.00 54.53%
amount
Total 11,972,500.00 6,529,011.00 -- --
Notes to accounts receivable with insignificant single amount but large risks of groups after grouping by credit risks characteristics:
Naught
(3) The write-off accounts receivable
Unit: RMB Yuan
Nature of accounts Whether arising from
Name of entity Write-off time Write-off amount Write-off reason
receivable related party
119
2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
transaction or not?
Considered
irrecoverable after
Company 1 Goods payment 30 Jun. 2014 1,634,030.00 measuring the No
estimated
recoverable amount
Considered
irrecoverable after
Company 2 Goods payment 30 Jun. 2014 1,386,774.00 measuring the No
estimated
recoverable amount
Notes to write off of accounts receivable:
Naught
(4) Particulars about accounts receivable due to shareholders holding 5% (including 5%) voting rights of
the Company
Unit: RMB Yuan
Closing amount Opening amount
Name of entity Amount withdrawing Amount withdrawing
Book balance Book balance
bed-debt provision bed-debt provision
Naught
(5) Information of top five accounts receivable:
Unit: RMB Yuan
The relationship with the
Name of entity Amount Aging Proportion
Company
Client 1 Non-related party 636,837,611.00 Within one year 12.42%
Client 2 Non-related party 361,033,513.00 Within one year 7.04%
Client 3 Within one year /1 to 2
Non-related party 172,882,063.00 3.37%
years/2 to 3 years
Client 4 Non-related party 122,353,109.00 Within one year 2.39%
Client 5 Non-related party 120,501,931.00 Within one year 2.35%
Total -- 1,413,608,227.00 -- 27.57%
(6) The amounts due from related parties
Unit: RMB Yuan
The relationship with the
Name of entity Amount Proportion
Company
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Ultimate controller and its
Related party 1 644,679.00 0.01%
affiliated enterprises
Related party 2 Associated enterprise 121,674,974.00 2.37%
Related party 3 Associated enterprise 556,227.00 0.01%
Related party 4 Associated enterprise 19,558.00 0.00%
Total -- 122,895,438.00 2.39%
(7) Information of accounts receivable that terminated recognition
Unit: RMB Yuan
Gains or loses related to the termination of
Item Amount of termination
recognition
Naught
(8) If securitization is carried out on accounts receivable as the underlying assets, please list amount of
assets and liabilities arising from further involvement
Unit: RMB Yuan
Item Period-end
Assets:
Naught
Liabilities:
Naught
6. Other accounts receivable
(1) Other accounts receivable disclosed by type:
Unit: RMB Yuan
Closing balance Opening balance
Category
Balance Provision for bad debts Balance Provision for bad debts
Amount Proportion Amount Proportion Amount Proportion Amount Proportion
Other accounts
receivable that
is individually
significant and 0.00 0.00% 0.00 0.00% 0.00 0.00% 0.00 0.00%
provisions for
bad debts
individually
Other accounts receivable that provisions for bad debts by group
121
2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Portfolio of
573,577,759.00 98.13% 0.00 0.00% 618,124,736.00 98.28% 0.00 0.00%
credit risk
Subtotal of
573,577,759.00 98.13% 0.00 0.00% 618,124,736.00 98.28% 0.00 0.00%
group
Other accounts
receivable that
is individually
99.44%
insignificant 10,903,896.00 1.87% 10,842,916.00 10,835,625.00 1.72% 10,835,625.00 100.00%
but provisions
for bad debts
individually
Total 584,481,655.00 -- 10,842,916.00 -- 628,960,361.00 -- 10,835,625.00 --
Notes to category of other accounts receivable:
Naught
Other accounts receivable with significant single amount and individually withdrawn bad debt provision
□Applicable √Inapplicable
In the groups, other accounts receivable adopting aging analysis method to withdraw bad debt provision:
□Applicable √Inapplicable
In the groups, other accounts receivable adopting balance percentage method to withdraw bad debt provision
□Applicable√ Inapplicable
In the groups, other accounts receivable adopting other methods to withdraw bad debt provision
√Applicable □Inapplicable
Unit: RMB Yuan
Name of equity Book balance Provision for bad debt
Portfolio of credit risk 573,577,759.00 0.00
Total 573,577,759.00 0.00
Other closing individually insignificant but provisions for bad debts individually other accounts receivable:
√Applicable □Inapplicable
Unit: RMB Yuan
Content of other accounts
Book balance Provision for bad debt Withdrawing proportion Reason
receivable
Calculated by collectable
Materials 8,943,791.00 8,943,791.00 100.00%
amount
Calculated by collectable
Devices 973,358.00 973,358.00 100.00%
amount
Calculated by collectable
Rents 2,206.00 2,206.00 100.00%
amount
93.81% Calculated by collectable
Other 984,541.00 923,561.00
amount
Total 10,903,896.00 10,842,916.00 -- --
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
(2) Information of other accounts receivable reversed or recovered in the reporting period
Unit: RMB Yuan
Content of other accounts Reason for reversed or Basis for determination Accrued amount before Amount of reversed or
receivable recovered of bad debts provision reversal or recovery recovered
Naught
Withdrawal of closing individually significant or insignificant but provisions for bad debts individually accounts
receivable:
Unit: RMB Yuan
Content Book balance Amount of bad debts Withdrawal percentage Reason
Calculated by collectable
Materials 8,943,791.00 8,943,791.00 100.00%
amount
Calculated by collectable
Devices 973,358.00 973,358.00 100.00%
amount
Calculated by collectable
Rents 2,206.00 2,206.00 100.00%
amount
93.81% Calculated by collectable
Other 984,541.00 923,561.00
amount
Total 10,903,896.00 10,842,916.00 -- --
Notes of individually insignificant but was of big risk after grouped by credit risk other accounts receivable:
Naught
(3) Information of other accounts receivable written off in the reporting period
Unit: RMB Yuan
Whether arising from
Nature of other
Name of company Write off date Write off amount Write off reason related party
accounts receivable
transactions or not
Naught
Notes of written-off of other accounts receivable:
Naught
(4) Other accounts receivable is due from shareholders with more than 5% (including 5%) of the voting
shares of the Company
Unit: RMB Yuan
Closing balance Opening balance
Name of entity Withdrawal amount Withdrawal amount
Book balance Book balance
of bad debts of bad debts
Naught
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
(5) Nature or details of other significant accounts receivable
Unit: RMB Yuan
Nature or details of the
Name of entity Amount Proportion of the total
amount
Client 1 200,000,000.00 Equity transfer account 34.87%
Total 200,000,000.00 -- 34.87%
Notes
Naught
(6) Information of top five other accounts receivable
Unit: RMB Yuan
Relationship with the
Name of entity Amount Aging Proportion of the total
Company
Client 1 Non-related party 200,000,000.00 2 to 3 years 34.22%
Client 2 Non-related party 49,418,409.00 Within 1 year/1 to 2 years 8.46%
Client 3 Non-related party 42,052,326.00 Within 1 year 7.19%
Client 4 Non-related party 27,052,315.00 Within 1 year 4.63%
Client 5 Non-related party 16,317,957.00 2 to 3 years 2.79%
Total -- 334,841,007.00 -- 57.29%
(7) Information of the amounts due from related parties
Unit: RMB Yuan
Name of entity Relationship with the Company Amount Proportion
Related party 1 Corporate shareholder 106,200.00 0.02%
Ultimate controller and affiliated
Related party 2 55,784.00 0.01%
enterprise
Total -- 161,984.00 0.03%
(8) Information of other accounts receivable that terminated recognition
Unit: RMB Yuan
Gains or loses related to the termination of
Item Amount of termination
recognition
Naught
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
(9) If securitization is carried out on other accounts receivable as the underlying assets, please list amount
of assets and liabilities arising from further involvement
Unit: RMB Yuan
Item Period-end
Assets:
Naught
Liabilities:
Naught
(10) Government subsidy recognized according to the accounts receivable during the reporting period
Unit: RMB Yuan
Reason failed to
recover the expected
Government Closing Closing Expected Expected Expected
Unit amount on the
subsidy item balance aging charging time charging amount charging basis
expected time (if
any)
Naught
7. Prepayment
(1) List by aging analysis:
Unit: RMB Yuan
Closing balance Opening balance
Aging
Amount Proportion Amount Proportion
Within 1 year 220,912,962.00 99.00% 140,207,693.00 97.00%
1 year to 2
1,642,954.00 1.00% 752,330.00 3.00%
years
2 years to 3
195,221.00 0.00% 279,775.00 0.00%
years
Over 3 years 370,865.00 0.00% 164,975.00 0.00%
Total 223,122,002.00 -- 141,404,773.00 --
Notes of aging of prepayment:
On 30 Jun. 2014, the prepayment over 1 year of the Group was mainly the accounts of the purchasing activities which had not settled.
(2) Information of the top 5 prepayment
Unit: RMB Yuan
125
2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Name of entity Relationship Amount Time Reason for unsettled
Entity 1 External supplier 36,557,710.00 Normal prepayment
Entity 2 External supplier 28,376,832.00 Normal prepayment
Entity 3 External supplier 27,067,470.00 Normal prepayment
Entity 4 External supplier 17,819,739.00 Normal prepayment
Entity 5 External supplier 17,661,573.00 Normal prepayment
Total -- 127,483,324.00 -- --
Notes of important companies of prepayment:
On 30 Jun. 2014, the top 5 prepayment of the Group were all aging within 1 year.
(3) Information about amount due from shareholders with more than 5% (including 5%) of the voting
shares of the Company in prepayment
Unit: RMB Yuan
Closing balance Opening balance
Name of entity The amount of bad The amount of bad
Book balance Book balance
debt provision debt provision
Naught
(4) Notes of prepayment
Naught
8. Inventory
(1) Category
Unit: RMB Yuan
Closing balance Opening balance
Item Impairment of Impairment of
Book balance Book value Book balance Book value
inventories inventories
Raw materials 1,221,800,403.00 74,355,101.00 1,147,445,302.00 1,037,799,204.00 56,125,364.00 981,673,840.00
Construction contract
454,356,075.00 55,874,925.00 398,481,150.00 428,358,175.00 82,373,214.00 345,984,961.00
assets
Inventory goods 2,436,467,334.00 481,044,676.00 1,955,422,658.00 1,945,811,938.00 339,094,214.00 1,606,717,724.00
Turnover material 85,784,355.00 0.00 85,784,355.00 84,428,134.00 0.00 84,428,134.00
Total 4,198,408,167.00 611,274,702.00 3,587,133,465.00 3,496,397,451.00 477,592,792.00 3,018,804,659.00
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(2) Provision for falling price of inventories
Unit: RMB Yuan
Opening book Decease
Category Increase Closing book balance
balance Reversal Write-off
Raw materials 56,125,364.00 101,392,161.00 15,268,684.00 67,893,740.00 74,355,101.00
Construction contract
82,373,214.00 6,482,441.00 20,116,659.00 12,864,071.00 55,874,925.00
assets
Inventory goods 339,094,214.00 341,858,263.00 24,408,544.00 175,499,257.00 481,044,676.00
Turnover material 0.00 0.00
Total 477,592,792.00 449,732,865.00 59,793,887.00 256,257,068.00 611,274,702.00
(3) Details of provision for falling price of inventories
Proportion of reversal of
Basis on provision for falling price of
Item Reasons for reversal provision for impairment of
inventories
inventories to closing balance
The lower one of cost and realizable net Increase of market price for the
Raw materials 1.25%
value for the products products
The lower one of cost and realizable net Increase of market price for the
1.00%
Inventory goods value for the products products
Construction contract The lower one of cost and realizable net Increase of market price for the
4.43%
assets value for the products products
Notes of inventory:
9. Other current assets
Unit: RMB Yuan
Item Closing balance Opening balance
To-be-deducted VAT 2,755,152,877.00 1,868,850,052.00
Income tax prepayment 408,642.00 380,634.00
Other 4,492,051.00 3,574,140.00
Total 2,760,053,570.00 1,872,804,826.00
Notes of other current assets:
Naught
10. Available-for-sale financial assets
(1) Information of available-for-sale financial assets
Unit: RMB Yuan
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Item Closing fair value Opening fair value
Available-for-sale bonds 0.00 0.00
Available-for-sale equity instruments 226,073,866.00 254,506,569.00
Others 0.00 0.00
Total 226,073,866.00 254,506,569.00
In the reporting period, the Company reclassified the held-to-maturity investment into available-for-sale financial assets, a total of
RMB 000 was reclassified, which takes 000% of total matured investment before reclassification.
Notes of available-for-sale financial assets:
Naught
(2) Long-term liability investment of available-for-sale financial assets
Unit: RMB Yuan
Accrued
Initial Interest in the accounts
Opening Closing
Item Category Balance investment Matured date reporting receivable or
balance balance
cost period received
interest
Naught
Notes of long-term liability investment of available-for-sale financial assets
(3) Impairment of available for sale financial assets
Unit: RMB Yuan
Equity instruments Debt instruments
Category Other Total
available for sale available for sale
Cost of equity instruments/amortized
344,902,961.00 0.00 0.00 344,902,961.00
cost of debt instruments
Fair value at the period-end 226,073,866.00 0.00 0.00 226,073,866.00
Changed amount of the fair value
accumulatively included into other 31,270,560.00 0.00 0.00 31,270,560.00
comprehensive profits
Amount of the withdrawn impairment 150,099,655.00 0.00 0.00 150,099,655.00
(4) Changes in impairment of available for sale financial assets during the reporting period
Unit: RMB Yuan
Equity instruments Debt instruments
Category Other Total
available for sale available for sale
Amount of the withdrawn 150,099,655.00 0.00 0.00 150,099,655.00
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impairment at the
period-begin
Withdrawal of this year 0.00 0.00 0.00 0.00
Of which: reversed from
other comprehensive 0.00 0.00 0.00 0.00
profits
Decrease of this year 0.00 0.00 0.00 0.00
Of which: the fair value
recovered and reversed at 0.00 0.00 0.00 0.00
the period-end
Amount of the withdrawn
impairment at the 150,099,655.00 0.00 0.00 150,099,655.00
period-end
(5) The fair value falling sharply or continue falling of equity instruments available for sale
Unit: RMB Yuan
Equity Falling range Reasons for the withdrawal of
Withdrawal
instruments of the fair Constant falling impairment according to the
Cost Fair value impairment
available for value relative time difference between the cost and
amount
sale (itemize) to the cost the fair value at the period-end
11. Held-to-maturity investment
(1) Information
Unit: RMB Yuan
Item Closing book balance Opening book balance
Convertible bonds for HYDIS Technology 17,960,946.00 17,960,946.00
Provision for impairment of held-to-maturity
-17,960,946.00 -17,960,946.00
investment
Total 0.00 0.00
Notes:
The held-to-maturity investment of the Group and the Company was the originally held convertible bonds of HYDIS Technology Co.,
Ltd. (hereinafter referred to as “HYDIS Technology”).
Due to poor operation, HYDIS Technology couldn’t pay the remaining convertible bonds to the Company. The Company had
withdrawn the provision for impairment of uncollected convertible bonds valued of RMB 17,960,946 (USD 2,170,000) in 2005.
On 30 Jun. 2014, the Company had not received any equities or interest, the collectability of such bonds had uncertainty, so the
Group and the Company maintained the original withdrawn impairment provision.
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(2) Information of held-to-maturity investment sold in the reporting period but was not matured
Unit: RMB Yuan
Item Amount Percentage of the investment amount before sales
Naught
Notes of undue held-to-maturity investment sold in the reporting period:
12. Long-term accounts receivable
Unit: RMB Yuan
Category Closing balance Opening balance
Total 0.00 0.00
13. Investment to joint ventures and associated enterprises
Unit: RMB Yuan
Percentage of Voting Total operation
Net profit of
Name of holding shares percentage of Total closing Total closing Net closing revenue of the
the reporting
investee of the the Company in assets liabilities assets reporting
period
Company investee period
I. Joint ventures
II. Associated enterprises
Beijing Nissin
Electronics
Precision
Component 27.04% 27.04% 104,122,501.00 125,617,401.00 -21,494,900.00 37,451,378.00 -19,492,478.00
Co., Ltd.
(Nissin
Electronics)
Beijing Nittan
Electronics Co.,
40.00% 40.00% 78,867,525.00 17,671,842.00 61,195,683.00 51,173,018.00 9,179,344.00
Ltd. (Nittan
Electronics)
Beijing Yingfei
Hailin Venture
Capital
35.00% 35.00% 6,750,796.00 7,918,468.00 -1,167,672.00 2,912,621.00 397,887.00
Management
Co., Ltd.
(Yingfei Hailin)
Ordos BOE
20.00% 20.00% 81,902,665.00 34,449,286.00 47,453,379.00 0.00 -101,621.00
Energy
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Investment Co.,
Ltd. (BOE
Energy
Investment)
Beijing Fly
Hailin
40.00% 40.00% 29,558,983.00 17,040,000.00 12,518,983.00 0.00 -2,927,091.00
Investment
Center
Notes if significant differences exist between the important accounting policies and accounting estimations of joint ventures,
associated enterprises and the Company:
Naught
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14. Long-term equity investment
(1) List of long-term equity investment
Unit: RMB Yuan
Explanation
for
indifferences
Withdrawn
Share between the Cash bonus
Voting impairment
Accounting Initial Opening Closing holding share Impairment in the
Investee Increase/decrease percentage provision in
method investment cost balance balance percentage holding provision reporting
in investee the reporting
in investee percentage period
period
and voting
percentage
in investee
Beijing Nissin Electronics
Equity
Precision Component Co., 18,613,234.00 0.00 0.00 0.00 27.04% 27.04% Naught 0.00 0.00 0.00
method
Ltd. (Nissin Electronics)
Beijing Nittan Electronics
Equity
Co., Ltd. (Nittan 6,650,640.00 20,814,107.00 3,671,740.00 24,485,847.00 40.00% 40.00% Naught 0.00 0.00 840,000.00
method
Electronics)
Beijing Yingfei Hailin
Venture Capital Equity
350,000.00 0.00 0.00 0.00 35.00% 35.00% Naught 0.00 0.00 0.00
Management Co., Ltd method
(Yingfei Hailin)
Ordos BOE Energy
Equity
Investment Co., Ltd. 2,000,000.00 907,511,000.00 -20,324.00 907,490,676.00 20.00% 20.00% Naught 0.00 0.00 0.00
method
(BOE Energy Investment)
Equity
Beijing Yingfei Hailin 30,000,000.00 28,178,429.00 -1,170,836.00 27,007,593.00 40.00% 40.00% Naught 0.00 0.00 0.00
method
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Investment Center
Hefei Xincheng
Optoelectronics Cost method 6,826,000,000.00 4,854,099.00 -4,854,099.00 0.00 93.17% 93.17% Naught 0.00 0.00 0.00
Technology
TPV display technology Equity
10,851,114.00 9,802,416.00 728,584.00 10,531,000.00 8.00% 8.00% Naught 0.00 0.00 0.00
(China) Co., Ltd. method
Teralane Semiconductor
Cost method 11,868,000.00 11,868,000.00 0.00 11,868,000.00 7.29% 7.29% Naught 0.00 0.00 0.00
Inc
National Engineering
Laboratory for Cost method 6,250,000.00 6,250,000.00 0.00 6,250,000.00 12.50% 12.50% Naught 0.00 0.00 0.00
Digital TV(Beijing)
Zhejiang BOE Display
Cost method 570,032.00 570,032.00 0.00 570,032.00 7.03% 7.03% Naught 0.00 0.00 0.00
Technology CO., Ltd.
Other Cost method 180,000.00 180,000.00 0.00 180,000.00 0.00% 0.00% Naught 180,000.00 0.00 0.00
Total -- 6,913,333,020.00 990,028,083.00 -1,644,935.00 988,383,148.00 -- -- -- 180,000.00 0.00 840,000.00
(2) Information of the limitation on the capability to transfer capital to investee
Unit: RMB Yuan
Item that with limitation on the capability to transfer capital to
Reason for limitation Investment losses unrecognized in current period
investee
Naught
Notes of long-term equity investment:
Naught
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15. Investment property
(1) Investment property calculated by cost
Unit: RMB Yuan
Item Opening book balance Increase Decrease Closing book balance
I. Total cost 1,493,181,902.00 11,279,181.00 0.00 1,504,461,083.00
1. Property and buildings 833,402,685.00 11,279,181.00 0.00 844,681,866.00
2. Land use right 659,779,217.00 0.00 0.00 659,779,217.00
II Accumulated depreciation and
208,765,965.00 16,256,570.00 0.00 225,022,535.00
amortization
1. Property and buildings 151,681,981.00 16,066,629.00 0.00 167,748,610.00
2. Land use right 57,083,984.00 189,941.00 0.00 57,273,925.00
III. Total net book value of
1,284,415,937.00 -4,977,389.00 0.00 1,279,438,548.00
investment real estate
1. Property and buildings 681,720,704.00 -4,787,448.00 0.00 676,933,256.00
2. Land use right 602,695,233.00 -189,941.00 0.00 602,505,292.00
IV. Accumulated amount of
provision for impairment of 0.00 0.00 0.00 0.00
investment real estate
1. Property and buildings 0.00 0.00 0.00 0.00
2. Land use right 0.00 0.00 0.00 0.00
V. Total book value of investment
1,284,415,937.00 -4,977,389.00 0.00 1,279,438,548.00
real estate
1. Property and buildings 681,720,704.00 -4,787,448.00 0.00 676,933,256.00
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2. Land use right 602,695,233.00 -189,941.00 0.00 602,505,292.00
Unit: RMB Yuan
The reporting period
Amount of amortization and depreciation in the reporting period 16,256,570.00
Withdrawal amount of provision for impairment of investment real estate in the reporting period 0.00
16. Fixed assets
(1) Fixed assets details
Unit: RMB Yuan
Decrease in the reporting
Item Opening book balance Increase in the reporting period Closing book balance
period
I. Total original book value 49,880,662,377.00 2,636,364,021.00 376,534,572.00 52,140,491,826.00
Including: Property and building 10,238,067,168.00 438,903,894.00 0.00 10,676,971,062.00
Machineries 39,434,620,711.00 2,166,390,921.00 374,334,899.00 41,226,676,733.00
Vehicles 207,974,498.00 31,069,206.00 2,199,673.00 236,844,031.00
Increase in the reporting Decrease in the reporting
-- Opening book balance Closing book balance Opening book balance
period period
II. Accumulated depreciation： 16,729,774,721.00 0.00 2,348,691,847.00 160,489,425.00 18,917,977,143.00
Including: Property and building 1,104,710,024.00 0.00 460,526,690.00 0.00 1,565,236,714.00
Machineries 15,537,022,601.00 0.00 1,866,162,538.00 158,223,611.00 17,244,961,528.00
Vehicles 88,042,096.00 0.00 22,002,619.00 2,265,814.00 107,778,901.00
-- Opening book balance -- Opening book balance
III. The net book value of fixed assets 33,150,887,656.00 -- 33,222,514,683.00
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Including: Property and building 9,133,357,144.00 -- 9,111,734,348.00
Machineries 23,897,598,110.00 -- 23,981,715,205.00
Vehicles 119,932,402.00 -- 129,065,130.00
IV. Total impairment provision 655,222,611.00 -- 632,766,920.00
Including: Property and building 1,038,901.00 -- 805,883.00
Machineries 654,183,710.00 -- 631,961,037.00
Vehicles 0.00 -- 0.00
V. Total book value of fixed assets 32,495,665,045.00 -- 32,589,747,763.00
Including: Property and building 9,132,318,243.00 -- 9,110,928,465.00
Machineries 23,243,414,400.00 -- 23,349,754,168.00
Vehicles 119,932,402.00 -- 129,065,130.00
Depreciation amount of this reporting period was RMB 2,348,691,847.00 and RMB 2,403,526,991.00 was transferred into fixed assets from construction project.
(2) Fixed assets leased in from financing lease
Unit: RMB Yuan
Item Original book value Accrued depreciation Net book value
Property and building 11,291,665.00 3,215,405.00 8,076,260.00
17. Construction in progress
(1) List of construction in progress
Unit: RMB Yuan
Item Closing balance Opening balance
Book balance Impairment Book value Book balance Impairment Book value
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provision provision
th
The 8.5 Generation
TFT-LCD Project of 995,018,151.00 0.00 995,018,151.00 1,858,377,755.00 0.00 1,858,377,755.00
BOE Display
The 6th Generation
TFT-LCD Project of 128,524,844.00 0.00 128,524,844.00 51,050,315.00 0.00 51,050,315.00
Hefei Optoelectronics
The 4.5th Generation
TFT-LCD Project of
127,480,714.00 0.00 127,480,714.00 42,456,647.00 0.00 42,456,647.00
Chengdu
Optoelectronics
AM-OLED Project of
Yuansheng 7,911,113,470.00 0.00 7,911,113,470.00 7,295,379,869.00 0.00 7,295,379,869.00
Optoelectronics
Hefei Xinsheng
19,985,432,094.00 0.00 19,985,432,094.00 11,982,854,552.00 0.00 11,982,854,552.00
Optoelectronics Project
Operation, research and
209,602,073.00 0.00 209,602,073.00 169,980,530.00 0.00 169,980,530.00
development Center
BOE Photoelectricity
Expansion Engineering 52,471,666.00 0.00 52,471,666.00 92,371,920.00 0.00 92,371,920.00
P6 Project
Chongqing 8.5th
Generation of the New
Type of Semiconductor 1,439,260,713.00 0.00 1,439,260,713.00 0.00 0.00 0.00
Display Device and
System Project
Other 1,029,743,174.00 1,429,766.00 1,028,313,408.00 681,907,830.00 1,429,766.00 680,478,064.00
Total 31,878,646,899.00 1,429,766.00 31,877,217,133.00 22,174,379,418.00 1,429,766.00 22,172,949,652.00
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(2) Significant changes in construction in progress
Unit: RMB Yuan
Name of Budget Opening Increase Transferred Other Project Proje Capitalizatio Including: Capitalizat Source Closing
balance to fixed decrease
project assets input ct n of capitalizatio ion of of balance
percenta proce interest n of interest funding
ge of ss interest this rate (%)
budget period
th
The 8.5
Generation Raised
TFT-LCD 27,473,860,000 1,858,377,755 946,752,347.0 1,810,111,95 670,159,136. 30,428,194. and 995,018,151.0
0.00 87.00% - 3.43%
Project of .00 .00 0 1.00 00 00 raise 0
BOE funds
Display
The 6th
Generation
Raised
TFT-LCD
16,000,000,000 169,294,278.0 91,819,749.0 126,503,941. and 128,524,844.0
Project of 51,050,315.00 0.00 85.00% - 0.00 0.00%
.00 0 0 00 raise 0
Hefei
funds
Optoelectro
nics
The 4.5th
Generation
Raised
TFT-LCD
3,675,170,000. 104,177,480.0 19,025,625.0 and 127,480,714.0
Project of 42,456,647.00 127,788.00 94.00% - 4,622,238.00 0.00 0.00%
00 0 0 raise 0
Chengdu
funds
Optoelectro
nics
AM-OLED 20,500,000,000 7,295,379,869 899,568,044.0 283,834,44 236,228,629. 104,841,28 Self-rais 7,911,113,470
0.00 41.00% - 5.28%
Project of .00 .00 0 3.00 00 3.00 ed .00
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Yuansheng
Optoelectro
nics
Hefei
Xinsheng
33,897,500,000 11,982,854,55 8,465,968,798 463,391,256. 688,499,655. 210,782,15 Self-rais 19,985,432,09
Optoelectro 0.00 68.00% - 2.71%
.00 2.00 .00 00 00 3.00 ed 4.00
nics Project
Operation,
research
169,980,530.0 Self-rais 209,602,073.0
and 409,000,000.00 39,621,543.00 0.00 0.00 52.00% - 0.00 0.00 0.00%
0 ed 0
developmen
t Center
BOE
Photoelectri
city 41,711,990.0 Self-rais
108,120,000.00 92,371,920.00 1,811,736.00 0.00 87.00% - 0.00 0.00 0.00% 52,471,666.00
Expansion 0 ed
Engineering
P6 Project
Chongqing
8.5th
Generation
of the New Raised
Type of 30,000,000,000 1,439,260,713 1,290,000.0 and 1,439,260,713
0.00 0.00 0.00 5.00% - 1,290,000.00 5.70%
Semiconduc .00 .00 0 raise .00
tor Display funds
Device and
System
Project
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Other
681,907,830.0 239,132,117. Self-rais
0.00 586,967,461.0 0.00 0.00% - 0.00 0.00 0.00% 1,029,743,174
0 00 ed
0 .00
Total
132,063,650,00 22,174,379,41 2,665,192,68 283,962,23 1,727,303,59 347,341,63
12,653,422,40 -- -- -- -- 31,878,646,89
0.00 8.00 8.00 1.00 9.00 0.00
0.00 9.00
Notes of significant changes in construction in progress:
Naught
(3) Impairment provision of construction in progress
Unit: RMB Yuan
Decrease in the reporting
Item Opening amount Increase in the reporting period Closing balance Reason for withdrawal
period
Installation and reformation of
1,429,766.00 0.00 0.00 1,429,766.00
equipments
Total 1,429,766.00 0.00 0.00 1,429,766.00 --
18. Intangible assets
(1) Information
Unit: RMB Yuan
Item Opening balance Increase in the reporting period Decrease in the reporting period Closing balance
I. Total original book value 2,741,607,195.00 238,728,437.00 1,468,951.00 2,978,866,681.00
Of which: software 485,961,800.00 20,231,779.00 6,800.00 506,186,779.00
Land usage right 804,112,148.00 213,331,498.00 0.00 1,017,443,646.00
Patent right 40,297,560.00 872,949.00 0.00 41,170,509.00
Non-patent technology 1,001,402,087.00 3,556,680.00 1,462,151.00 1,003,496,616.00
Trademark right 0.00 0.00 0.00 0.00
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Copyright 0.00 0.00 0.00 0.00
Franchise 409,833,600.00 735,531.00 0.00 410,569,131.00
II. Total accrued amortization 715,189,886.00 106,341,295.00 0.00 821,531,181.00
Of which: software 210,442,290.00 26,391,549.00 0.00 236,833,839.00
Land usage right 66,055,372.00 10,374,735.00 0.00 76,430,107.00
Patent right 15,263,688.00 1,945,713.00 0.00 17,209,401.00
Non-patent technology 383,926,502.00 37,975,531.00 0.00 421,902,033.00
Trademark right 0.00 0.00 0.00 0.00
Copyright 0.00 0.00 0.00 0.00
Franchise 39,502,034.00 29,653,767.00 0.00 69,155,801.00
III. Total net book value of intangible
2,026,417,309.00 132,387,142.00 1,468,951.00 2,157,335,500.00
assets
Of which: software 275,519,510.00 -6,159,770.00 6,800.00 269,352,940.00
Land usage right 738,056,776.00 202,956,763.00 0.00 941,013,539.00
Patent right 25,033,872.00 -1,072,764.00 0.00 23,961,108.00
Non-patent technology 617,475,585.00 -34,418,851.00 1,462,151.00 581,594,583.00
Trademark right 0.00 0.00 0.00 0.00
Copyright 0.00 0.00 0.00 0.00
Franchise 370,331,566.00 -28,918,236.00 0.00 341,413,330.00
IV. Total impairment provision 471,453.00 0.00 0.00 471,453.00
Of which: software 471,453.00 0.00 0.00 471,453.00
Land usage right 0.00 0.00 0.00 0.00
Patent right 0.00 0.00 0.00 0.00
Non-patent technology 0.00 0.00 0.00 0.00
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Trademark right 0.00 0.00 0.00 0.00
Copyright 0.00 0.00 0.00 0.00
Franchise 0.00 0.00 0.00 0.00
V. Total book value of intangible assets 2,025,945,856.00 132,387,142.00 1,468,951.00 2,156,864,047.00
Of which: software 275,048,057.00 -6,159,770.00 6,800.00 268,881,487.00
Land usage right 738,056,776.00 202,956,763.00 0.00 941,013,539.00
Patent right 25,033,872.00 -1,072,764.00 0.00 23,961,108.00
Non-patent technology 617,475,585.00 -34,418,851.00 1,462,151.00 581,594,583.00
Trademark right 0.00 0.00 0.00 0.00
Copyright 0.00 0.00 0.00 0.00
Franchise 370,331,566.00 -28,918,236.00 0.00 341,413,330.00
Amortization was of RMB 106,341,295 in the reporting period.
(2) Company development expense
Unit: RMB Yuan
Decrease
Item Opening balance Increase Recognized into current Closing balance
Recognized as intangible assets
gains/losses
Development expense percentage of total expenditure of R&D projects in the reporting period.
Percentage of intangible assets arising from inner R&D of the Company was taken in closing book value of intangible assets.
Notes of R&D projects of the Company, those that include individual value of more than RMB 1 million and recognized with a basis of assessed value, please
disclose name of evaluation authority and method of evaluation:
19. Goodwill
Unit: RMB Yuan
Name of investee or event that generated goodwill Opening balance Increase in the reporting Decrease in the reporting Closing balance Impairment provision
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period period at period-end
Beijing Yinghe Century Co., Ltd. 42,940,434.00 0.00 0.00 42,940,434.00 0.00
Suzhou Gaochuang 8,562,464.00 0.00 0.00 8,562,464.00 0.00
BOE Optoelectronics 4,423,876.00 0.00 0.00 4,423,876.00 4,423,876.00
Total 55,926,774.00 0.00 0.00 55,926,774.00 4,423,876.00
Notes of test method of goodwill impairment and impairment withdrawal method:
Whether there is the indication of impairment or not, the Group shall estimate the recoverable amount of goodwill at the end of each fiscal year. The Group amortizes
the book value of goodwill in accordance with the situation of related asset group or combination of asset groups gaining benefits from the synergy effect of
enterprise merger, and conducts the impairment test of goodwill basing on such situation.
20. Long-term amortization expense
Unit: RMB Yuan
Item Opening balance Increase Amortization balance Other decrease Closing balance Reason for other decrease
Cost of operating lease
14,032,610.00 0.00 1,056,401.00 0.00 12,976,209.00
assets improvement
Cost of construction and
174,923,909.00 0.00 7,685,112.00 0.00 167,238,797.00
use of public facilities
Other 53,857,602.00 25,318,958.00 9,246,247.00 0.00 69,930,313.00
Total 242,814,121.00 25,318,958.00 17,987,760.00 0.00 250,145,319.00 --
Notes of long-term amortization expense:
Naught
21. Deferred tax assets and liabilities
(1) Deferred tax assets and liabilities are not listed as the net value after offset
Deferred tax assets and liabilities that already recognized
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Unit: RMB Yuan
Item Closing balance Opening balance
Deferred income tax assets:
Provision for impairment of assets 54,540,465.00 55,482,013.00
Formation expenses 0.00 0.00
Deductible losses 0.00 0.00
Differences of depreciation and amortization 3,553.00 3,553.00
Assessment of value-added to the investment of Yinghe Century 41,775,789.00 42,470,020.00
Employee payroll payable 622,054.00 236,892.00
Undistributed deficit 44,969,606.00 53,491,422.00
Other 8,796,772.00 8,796,772.00
Subtotal 150,708,239.00 160,480,672.00
Deferred income tax liabilities:
Assessed value of transactional financial instruments and derivative
0.00 0.00
financial instruments
Variation in fair value of financial assets available for sale recorded into
0.00 0.00
capital reserves
Assessed value add of Matsushita Color CRT 222,463,664.00 225,095,645.00
Assessed value add of Gaochuang Assets 21,440,003.00 22,252,788.00
Long-term equity investment 134,700,000.00 134,700,000.00
Assessed value of transactional financial instruments and derivative
7,242,183.00
financial instruments
Variation in fair value of financial assets available for sale recorded into
385,845,850.00 382,048,433.00
capital reserves
List of unrecognized deferred income tax assets
Unit: RMB Yuan
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Item Closing balance Opening balance
Deductable temporary difference 2,380,181,709.00 2,103,389,706.00
Deductible losses 1,743,678,023.00 2,120,019,584.00
Total 4,123,859,732.00 4,223,409,290.00
Deductible losses of unrecognized deferred income tax assets will due in the following years
Unit: RMB Yuan
Year Closing balance Opening balance Remark
2014 394,408,282.00 451,111,772.00
2015 428,776,707.00 352,439,731.00
2016 262,701,795.00 550,367,760.00
2017 354,714,825.00 367,697,695.00
2018 152,970,849.00 398,402,626.00
2019 150,105,565.00 0.00
Total 1,743,678,023.00 2,120,019,584.00 --
List of taxable differences and deductible differences items
Unit: RMB Yuan
Temporary differences amount
Item
Closing balance Opening balance
Taxable differences items
Assessed value add of Matsushita Color CRT 889,854,657.00 900,382,580.00
Assessed value add of Gaochuang Assets 85,760,011.00 89,011,152.00
Long-term equity investment 898,000,000.00 898,000,000.00
Other 28,968,733.00 0.00
Subtotal 1,902,583,401.00 1,887,393,732.00
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Deductible differences item
Provision for impairment of assets 222,334,960.00 228,611,918.00
Differences of depreciation and amortization 23,677.00 23,677.00
Assessment of value-added to the investment of Yinghe Century 167,103,154.00 169,880,080.00
Employee payroll payable 3,871,020.00 1,455,667.00
Undistributed deficit 179,878,421.00 213,965,688.00
Other 35,187,090.00 35,187,090.00
Subtotal 608,398,322.00 649,124,120.00
(2) Deferred income tax assets and liabilities are listed as the net value after offset
Components items of deferred income tax assets and liabilities after mutual set-off
Unit: RMB Yuan
Deductible or taxable
Deferred income tax assets or Deductible or taxable tempora Deferred income tax assets or
temporary differences after
Item liabilities after mutual set-off at ry differences after mutual se liabilities after mutual set-off at
mutual set-off at the opening of
the end of the period t-off at the end of the period the opening of the period
the period
Deferred income tax assets 150,708,239.00 160,480,672.00
Deferred income tax liabilities 385,845,850.00 382,048,433.00
Notes of deferred income tax assets and the deferred income tax liabilities
Unit: RMB Yuan
Item Amounts of the mutual set-off in the period
Notes of deferred income tax assets and the deferred income tax liabilities
22. List of provision for assets impairment
Unit: RMB Yuan
Decrease
Item Opening book balance Increase Closing book balance
Reversal Written off
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I. Provision for bad debt 25,197,411.00 960,259.00 5,722,473.00 3,063,270.00 17,371,927.00
II. Provision for inventory falling price 477,592,792.00 449,732,865.00 59,793,887.00 256,257,068.00 611,274,702.00
III. Impairment provision of
150,099,655.00 0.00 0.00 0.00 150,099,655.00
available-for-sale financial assets
IV. Impairment provision of held-to-maturity
17,960,946.00 0.00 0.00 0.00 17,960,946.00
investment
V. Impairment provision of long-term equity
180,000.00 0.00 0.00 0.00 180,000.00
investment
VI. Impairment provision of investment
0.00 0.00 0.00 0.00 0.00
property
VII. Impairment provision of fixed assets 655,222,611.00 0.00 0.00 22,455,691.00 632,766,920.00
VIII. Impairment provision of engineering
0.00 0.00 0.00 0.00 0.00
materials
IX. Impairment provision of construction in
1,429,766.00 0.00 0.00 1,429,766.00
progress
X. Impairment provision of productive
0.00 0.00 0.00 0.00 0.00
biological assets
Including: mature productive biological
0.00 0.00 0.00 0.00 0.00
assets
XI. Impairment provision of oil gas assets 0.00 0.00 0.00 0.00 0.00
XII. Impairment provision of intangible
471,453.00 0.00 0.00 0.00 471,453.00
assets
XIII. Impairment provision of goodwill 4,423,876.00 0.00 0.00 0.00 4,423,876.00
Total 1,332,578,510.00 450,693,124.00 65,516,360.00 281,776,029.00 1,435,979,245.00
Note:
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23. Other non-current assets
Unit: RMB Yuan
Item Closing amount Opening amount
Prepayment for procurement of fixed assets 199,096,536.00 400,197,786.00
Prepayment for construction 152,204,613.00 357,002,020.00
Accrued deductible VAT 498,445,042.00 442,726,532.00
Other 4,399,968.00 14,296,761.00
Total 854,146,159.00 1,214,223,099.00
Note:
On 30 Jun. 2014, the other non-current assets of the Group and the Company were mainly the prepayment for relevant items of forming non-current assets.
24. Short-term loan
(1) Category
Unit: RMB Yuan
Category Closing balance Opening balance
Pledge loan 1,519,976,884.00 546,524,569.00
Mortgage loan 30,000,000.00 10,000,000.00
Guarantee loan 0.00 4,877,520,000.00
Credit loan 1,725,857,096.00 6,688,725,271.00
Total 3,275,833,980.00 12,122,769,840.00
Notes of category of short-term loan:
As of 30 Jun. 2014, monetary resources with a book value of RMB 769,977,178were used as a pledge for a short-term loan of USD 117,576,356 and JPY3,665,667,000 in the
group.
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As of 30 Jun. 2014, plants and buildings with a book value of RMB 13,596,861 and land usage right of RMB 8,473,412 were used as a pledge for a short-term loan of RMB 20,000,000 in the
group..
As of 30 Jun. 2014, plants and buildings with a book value of RMB 12,463,992 and land usage right of RMB 4,185,119 were used as a pledge for a short-term loan of RMB 10,000,000 in the
group.
As of 30 Jun. 2014, monetary resources with a book value of RMB 178,005,392, account receivable of RMB 48,434,829 and note receivable of RMB 327,483,928 were used as a pledge for a
short-term loan of USD 93,230,000 in the group.
(2) List of unsettled mature short-term loan
Unit: RMB Yuan
Entity Amount Interest Rate (%) Purpose of loan fund Reason of failing to settle Estimated repayment period
Naught
RMB 000 had been repaid after the balance sheet date.
Note to short term loan, including conditions and new mature date of extension expiry mature short-term loan
25. Notes payable
Unit: RMB Yuan
Category Closing balance Opening balance
Trade acceptance bill 0.00 18,559,072.00
Bank acceptance bill 390,854,698.00 117,095,592.00
Total 390,854,698.00 135,654,664.00
RMB390, 854,698.00 will be due in next fiscal period.
Notes of notes payable:
As of 30 Jun. 2014, there was no note payable of shareholders with more than 5% (including 5%) of voting shares of the Company in the balance of note payable.
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26. Accounts payable
(1) Information
Unit: RMB Yuan
Item Closing balance Opening balance
Related party payable 58,441,757.00 20,197,750.00
Third party payable 5,508,130,065.00 5,646,985,102.00
Total 5,566,571,822.00 5,667,182,852.00
(2) The accounts payable to shareholders with more than 5% (including 5%) of the voting shares of the Company
Unit: RMB Yuan
Name of entity Closing balance Opening balance
Naught
(3) Note to large accounts payable aging over one year
As of 30 Jun. 2014, there was no individual significant accounts payable aging over one year
27. Advance from customers
(1) Information
Unit: RMB Yuan
Item Closing balance Opening balance
Receive in advance 273,950,001.00 281,618,909.00
Total 273,950,001.00 281,618,909.00
(2) Advance from customers to shareholders with more than 5% (including 5%) of the voting shares of the Company
Unit: RMB Yuan
Name of entity Closing balance Opening balance
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(3) Note to advance from customers aging over one year
28. Payroll payable
Unit: RMB Yuan
Item Opening book balance Increase Decrease Closing book balance
I. Salary, bonus, allowance,
628,707,455.00 1,499,638,260.00 1,619,122,418.00 509,223,297.00
subsidy
II. Employee welfare 0.00 182,368,167.00 182,368,167.00 0.00
III. Social insurance 43,804,705.00 205,460,827.00 203,311,081.00 45,954,451.00
1.Medical insurance premiums 27,806,871.00 63,074,954.00 61,529,015.00 29,352,810.00
2.Endowment insurance 14,103,079.00 121,702,539.00 121,339,752.00 14,465,866.00
3.Unemployment insurance 879,515.00 9,556,806.00 9,597,658.00 838,663.00
4.Employment injury insurance 254,147.00 6,284,193.00 6,094,038.00 444,302.00
5.Maternity insurance 761,093.00 4,842,335.00 4,750,618.00 852,810.00
IV. Housing fund 9,382,838.00 56,916,215.00 63,859,262.00 2,439,791.00
V. Redemption for terminations
15,283,411.00 115,708.00 209,764.00 15,189,355.00
of labor contract
VI. Others 148,720,028.00 253,976,793.00 208,958,315.00 193,738,506.00
1. Labor union budget 33,244,202.00 22,775,993.00 18,576,757.00 37,443,438.00
2. Employee education budget 88,675,638.00 17,784,321.00 4,993,626.00 101,466,333.00
3. Employee bonus and welfare
20,192,808.00 478,115.00 3,379,587.00 17,291,336.00
fund
4.Other 6,607,380.00 212,938,364.00 182,008,345.00 37,537,399.00
Total 845,898,437.00 2,198,475,970.00 2,277,829,007.00 766,545,400.00
RMB 0.00 is the amounts in arrears in the payroll payable.
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The labor union budget and employee education budget is RMB 23,570,383.00, and the non-monetary benefits are RMB 0.00, the compensation for terminating the labor contract is RMB
209,764.00.
29. Taxes payable
Unit: RMB Yuan
Item Closing balance Opening balance
VAT 7,409,570.00 3,013,089.00
Consumption tax 0.00 0.00
Business tax 2,393,520.00 3,156,277.00
Corporate income tax 71,551,391.00 89,732,969.00
Personal income tax 12,912,714.00 32,654,736.00
Urban maintenance and construction tax 23,315,427.00 29,838,108.00
Educational surcharges and local educational surcharges 16,653,876.00 21,947,282.00
Other 29,078,785.00 9,862,762.00
Total 163,315,283.00 190,205,223.00
Notes of taxes payable: for the taxable income of branch companies and factories approved to be inter-adjusted by their local tax authorities, the Company shall
specified their calculation procedure.
30. Interest payable
Unit: RMB Yuan
Item Closing balance Opening balance
Interest payable on long-term borrowings that interest was paid by stages and
177,879,460.00 93,808,867.00
principle was repay upon due
Interest of corporate bond 0.00 0.00
Interest payable on short-term borrowings 91,201,629.00 215,987,148.00
Other 0.00 4,208,333.00
Total 269,081,089.00 314,004,348.00
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Note:
Naught
31. Dividends payable
Unit: RMB Yuan
Name of company Closing balance Opening balance Reason for unsettlement over 1 year
Beijing Picture Tubes Factory 1,504,649.00 1,504,649.00
Beijing Huayin Industrial Development Company 1,436,963.00 1,436,963.00
Minority shareholders of Vacuum Appliance 1,600,000.00 1,600,000.00
Internal employee’s shares 2,603,025.00 2,603,025.00
Other 906,533.00 906,533.00
Total 8,051,170.00 8,051,170.00 --
Notes:
As of 30 Jun. 2014, dividends payable is unpaid mainly because non-current shareholders did not claim relevant dividends and the unpaid cash dividends of the minority shareholders of
Vacuum Appliance.
As of 30 Jun. 2014, there was no single significant dividends payable marked on foreign currency.
32. Other accounts payable
(1) Information
Unit: RMB Yuan
Item Closing balance Opening balance
Other accounts payable 6,824,411,233.00 6,062,245,439.00
Total 6,824,411,233.00 6,062,245,439.00
(2) Other accounts payable from shareholders with more than 5% (including 5%) of the voting shares of the Company
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Unit: RMB Yuan
Item Closing balance Opening balance
Naught
(3) Notes of the other large amount accounts payable aging over 1 year
Naught
(4) Notes of other accounts payable with significant amount
Naught
33. Estimated liabilities
Unit: RMB Yuan
Item Opening balance Increase Decrease Closing balance
Loss contract to be executed 16,457,010.00 0.00 0.00 16,457,010.00
Total 16,457,010.00 0.00 0.00 16,457,010.00
Notes:
In 2009, the Group ceased producing several products and stopped fulfilling the purchase contract related to production. Due to the indemnity incurred accordingly, the Group withdrew the
relevant estimated liabilities according to reasonable estimation of losses.
34. Non-current liabilities due within 1 year
(1) Information
Unit: RMB Yuan
Item Closing balance Opening balance
Long-term loan due within 1 year 75,152,800.00 308,628,826.00
Bonds payable due within 1 year 0.00 0.00
Long-term accounts payable due within 1 year 0.00 0.00
Total 75,152,800.00 308,628,826.00
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(2) Long-term loan due within 1 year
Long-term loan due within 1 year
Unit: RMB Yuan
Item Closing balance Opening balance
Pledge loan 0.00 0.00
Mortgage loan 15,000,000.00 244,781,926.00
Guarantee loan 0.00 0.00
Credit loan 50,000,000.00 50,000,000.00
Mortgage and guarantee 10,152,800.00 13,846,900.00
Total 75,152,800.00 308,628,826.00
RMB0.00 of long-term loan due within 1 year was of mature loan with extended term.
Top five long-term loans due within 1 year
Unit: RMB Yuan
Closing balance Opening balance
Creditor Starting date Ending date Currency Rate (%) Foreign currency Foreign currency
RMB balance RMB balance
balance balance
BOE Group 23 Feb. 2006 30 Sep. 2014 CNY 0.00% 0.00 50,000,000.00 0.00 50,000,000.00
Yinghe 5 Jan. 2010 30 Jun. 2015 CNY 6.55% 0.00 15,000,000.00 0.00 15,000,000.00
Chengdu BOE 24 Dec. 2008 29 Oct. 2014 USD 4.01% 1,000,000.00 6,152,800.00 1,000,000.00 6,096,900.00
Chengdu BOE 26 Mar. 2009 29 Oct. 2014 CNY 6.55% 0.00 4,000,000.00 0.00 4,000,000.00
Total -- -- -- -- -- 75,152,800.00 -- 75,096,900.00
Mature loan of long-term loan due within 1 year:
Unit: RMB Yuan
Creditor Amount of loan Overdue date Annual rate (%) Usage Reason for unsettlement Estimated settle date
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
RMB0.00 was paid back after Balance Sheet Date:
Notes of long-term borrowings due within 1 year
(3) Bonds payable due within 1 year
Unit: RMB Yuan
Accrued interest
Name of the Opening interest Interest paid in Closing interest
Face value Issuing date Bond period Issuing amount in reporting Closing balance
bonds payable reporting period payable
period
Note:
(4) Long-term accounts payable due within 1 year
Unit: RMB Yuan
Creditor Term Initial amount Rate (%) Accrued interest Closing balance Conditions
Naught
Note:
35. Other current liabilities
Unit: RMB Yuan
Item Closing balance Opening balance
Guarantee loan 315,921,887.00 255,465,666.00
Total 315,921,887.00 255,465,666.00
Note:
As of 30 Jun. 2014, the balance of other current liability was the quality assurance deposits of the product. The quality assurance deposits of the product mainly bare the warranty expense of the
products sold, whose withdrawal shall be referred to actual amount and the actual sales of warranty expense in previous years, withholding in line with the reasonable evaluation recognized by
the management.
36. Long-term loan
(1) Category of long-term loan
Unit: RMB Yuan
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Item Closing balance Opening balance
Pledge loan 0.00 0.00
Mortgage loan 21,332,953,892.00 15,871,302,956.00
Guarantee loan 0.00 0.00
Credit loan 276,693,186.00 100,000,000.00
Mortgage and guarantee 300,584,000.00 597,814,000.00
Mortgage and pledge 4,453,344,000.00 4,426,512,000.00
Total 26,363,575,078.00 20,995,628,956.00
Note:
As at 30 Jun. 2014: the Group’s long-term loans, amounting to RMB 116,000,000 and USD 30,000,000, and non-current liabilities due within one year, amounting to RMB 4,000,000 and USD
1,000,000, were gained by mortgaging the plants and buildings with a carrying amount of RMB 136,343,702, machinery equipment of RMB 727,862,134and land use right of RMB 13,508,403,
of which the Renminbi loans were guaranteed by CDHT Investment Group Co., Ltd., while the U.S. Dollar loans were guaranteed by Chengdu Industry Investment Group Co., Ltd. and CDHT
Investment Group Co., Ltd..
As at 30 Jun. 2014, the Group’s long-term loans, amounting to RMB2,617,851,547 and USD 525,390,545, were gained by mortgaging the plants and buildings with a carrying amount of
RMB2,067,884,030, machinery equipment of RMB 5,801,151,547 and land use right of RMB 86,779,714.
As at 30 Jun. 2014, the Group’s long-term loans, amounting to RMB2,596,683,000 and USD 800,000,000, were gained by mortgaging the plants and buildings with a carrying amount of
RMB4,815,194,156, machinery equipment of RMB 13,101,272,372 and land use right of RMB161,783,861.
As at 30 Jun. 2014, the Group’s long-term loans, amounting to USD 1,288,000,000, were gained by mortgaging the plants and buildings with a carrying amount of RMB344, 049,967, land use
right of RMB204, 437,618 and construction in progress of RMB 19,985,432,094.
As at 30 Jun. 2014, the Group’s long-term loans, amounting to RMB 1,500,000,000 and USD 480,000,000, were gained by mortgaging the plants and buildings with a carrying amount of
RMB311, 981,942, land use right of RMB52,321,545 and construction in progress of RMB 7,911,113,470. Meanwhile, BOE Technology Group Co., Ltd. mortgaged its holding of 20% equity
of BOE Energy Investment, 20% equity of Haosheng Energy, 65% equity of BOE Energy Investment held by Hefei BOE and 15% equity of Haosheng Energy held by BOE Display.
As at 30 Jun. 2014: the Group’s long-term loans, amounting to RMB 38,750,000 and non-current liabilities due within one year, amounting to RMB15,000,000, were gained by mortgaging
investment property amounting to RMB 179,666,422( Of which: the plants and buildings was with a carrying amount of RMB 176,564,104 and land use right of RMB3,102,318)
As at 30 Jun. 2014, there was no long term loan of shareholders with more than 5% (including 5%) shares voting in the aforesaid balance.
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(2) The top five long-term loans
Unit: RMB Yuan
Closing balance Opening balance
Creditor Starting date Ending date Currency Rate (%) Foreign currency
Foreign currency amount RMB amount RMB amount
amount
Hefei Xinsheng
Optoelectronics 6 Jan. 2014 6 Jan. 2022 USD 4.65% 1,088,000,000.00 6,694,246,400.00 0.00 0.00
Technology Co., Ltd.
Yuansheng
17 Jun. 2013 9 Jun 2021 USD 4.63% 480,000,000.00 2,953,344,000.00 480,000,000.00 2,926,512,000.00
Optoelectronics
BOE Display 15 Jun. 2012 26 Jan. 2020 USD 3.43% 465,132,921.00 2,861,869,835.00 465,132,921.00 2,835,868,904.00
Yuansheng
17 Jun. 2013 9 Jun. 2021 CNY 6.55% 0.00 1,500,000,000.00 0.00 1,500,000,000.00
Optoelectronics
BOE Display 1 Feb. 2013 26 Jan. 2020 USD 3.43% 190,000,000.00 1,169,032,000.00 190,000,000.00 1,158,411,000.00
Total -- -- -- -- -- 15,178,492,235.00 -- 8,420,791,904.00
Notes of long-term loan: for the long-term loans arising from mature loans with extended term, the Company shall explain the conditions of extension, principal, interest, expected repayment
arrangement:
37. Other non-current liabilities
Unit: RMB Yuan
Item Closing book balance Opening book balance
Convertible obligatory right 4,357,389,525.00 4,238,967,274.00
Deferred income 2,235,004,445.00 2,116,634,509.00
VAT of collection of imported equipment 498,233,542.00 442,726,532.00
Total 7,090,627,512.00 6,798,328,315.00
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Note:
Liabilities related to governmental subsidy
Unit: RMB Yuan
Amount recorded into
New subsidy amount in Related to assets/Related to
Item Opening balance non-operating income in Other changes Closing balance
the reporting period revenue
the reporting period
-The 8.5th Generation
819,020,413.00 0.00 54,414,457.00 0.00 764,605,956.00 Related to assets
TFT-LCD Project
-The 6th Generation TFT-LCD
283,809,524.00 0.00 34,285,714.00 0.00 249,523,810.00 Related to assets
Project
-Research platform of
common technology on panel 8,214,286.00 0.00 1,071,429.00 0.00 7,142,857.00 Related to assets
display
-Contracted for construction
plant in industrial zone of 10,960,000.00 0.00 360,000.00 0.00 10,600,000.00 Related to assets
Hebei
-Construction of National
Engineering Laboratory for 16,428,571.00 0.00 2,142,857.00 0.00 14,285,714.00 Related to assets
TFT-LCD technology
-Government grants on other
937,066,853.00 281,351,098.00 71,696,905.00 0.00 1,146,721,046.00 Related to assets
technology project
-Technological development of
900,000.00 0.00 0.00 0.00 900,000.00 Related to revenue
TFT-LCD platform
-Technological development of
high generation line graphic
800,000.00 0.00 400,000.00 0.00 400,000.00 Related to revenue
display and advanced
packaging with large size
159
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-Government grants on other
39,434,862.00 3,720,000.00 2,329,800.00 0.00 40,825,062.00 Related to revenue
technology project
Total 2,116,634,509.00 285,071,098.00 166,701,162.00 0.00 2,235,004,445.00 --
38. Share capital
Unit: RMB Yuan
Increase/Decrease (+/-)
Opening balance Capitalization of Closing balance
Issuing new shares Bonus shares Other Subtotal
public reserves
Total shares 13,521,542,341.00 21,768,095,233.00 21,768,095,233.00 35,289,637,574.00
Note: if there was capital increase or capital decrease in the reporting period, shall disclose the name of public accounting firm of perform capital verification and reference number of capital
verification for the company operating less than 3 years, just indicate net assets before establishment. Limited liability Company changed into joint - stock company shall indicate the capital
verification when the company establish.
39. Capital reserves
Unit: RMB Yuan
Item Opening balance Increase Decrease Closing balance
Capital premium (share capital premium) 15,065,055,460.00 23,116,609,820.00 0.00 38,181,665,280.00
Other capital reserves 342,566,995.00 212,142,831.00 34,153,150.00 520,556,676.00
Total 15,407,622,455.00 23,328,752,651.00 34,153,150.00 38,702,221,956.00
Note:
40. Surplus reserves
Unit: RMB Yuan
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Item Opening balance Increase Decrease Closing balance
Statutory surplus reserves 209,421,304.00 0.00 0.00 209,421,304.00
Discretional surplus reserves 289,671,309.00 0.00 0.00 289,671,309.00
Total 499,092,613.00 0.00 0.00 499,092,613.00
Notes of surplus reserves: for surplus reserves transferred to share capital, compensating losses and distributed as dividends, relevant resolutions shall be explained:
41. Retained profits
Unit: RMB Yuan
Item Amount Withdrawal or distributed proportion
Opening balance of retained profits before adjustments -1,122,806,908.00 --
Total of opening retain profits adjustments (Add +, Less - 0.00 --
Opening balance of retained profits after adjustments -1,122,806,908.00 --
Add: Net profit attributable to owners of the Company 1,041,635,714.00 --
Withdrawal of discretional surplus reserves 0.00
Withdrawal of provision for general risk 0.00
Dividend of common stock payable 0.00
Dividend of common stock converted into share capital 0.00
Closing retained profits -81,171,194.00 --
List of adjustment of opening retained profits:
1) RMB* opening retained profits was affected by retrospective adjustment conducted according to the Accounting Standards for Business Enterprises and relevant new regulations.
2) RMB* opening retained profits was affected by changes on accounting policies.
3) RMB* opening retained profits was affected by correction of significant accounting errors.
4) RMB* opening retained profits was affected by changes in combination scope arising from same control.
5) RMB* opening retained profits was affected totally by other adjustments.
Notes: as for IPO companies, if the accumulated profits were enjoyed by new and original shareholders according to the resolutions made at the shareholders’ general meeting before public
offering, the Company shall explain clearly; if the accumulated profits were distributed before public offering and enjoyed by the original shareholders according to the resolutions made at the
shareholders’ general meeting, the Company shall clearly disclose the audited profits of dividends payable enjoyed by the original shareholders.
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Naught
42. Revenue and Cost of Sales
(1) Revenue, Cost of Sales
Unit: RMB Yuan
Item Reporting period Same period of last year
Sales of main business 15,402,900,295.00 15,445,799,068.00
Other operating income 710,271,289.00 808,526,999.00
Cost of sales 12,630,118,473.00 12,461,334,555.00
(2) Main business (Classified by industry)
Unit: RMB Yuan
Reporting period Same period of last year
Industry
Revenue of sales Costs of sales Revenue of sales Costs of sales
TFT-LCD 13,684,856,896.00 10,697,421,890.00 14,122,237,495.00 10,811,045,284.00
Display light source 926,445,592.00 843,394,362.00 835,761,531.00 758,224,637.00
Display system 1,742,432,325.00 1,617,639,224.00 1,514,162,402.00 1,414,995,125.00
Other business 248,115,928.00 125,048,809.00 453,855,631.00 291,415,984.00
Offset -1,198,950,446.00 -1,182,304,606.00 -1,480,217,991.00 -1,427,821,059.00
Total 15,402,900,295.00 12,101,199,679.00 15,445,799,068.00 11,847,859,971.00
(3) Main business (Classified by product)
Unit: RMB Yuan
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Reporting period Same period of last year
Product
Revenue of sales Costs of sales Revenue of sales Costs of sales
TFT-LCD 13,684,856,896.00 10,697,421,890.00 14,122,237,495.00 10,811,045,284.00
Display light source 926,445,592.00 843,394,362.00 835,761,531.00 758,224,637.00
Display system 1,742,432,325.00 1,617,639,224.00 1,514,162,402.00 1,414,995,125.00
Other business 248,115,928.00 125,048,809.00 453,855,631.00 291,415,984.00
Offset -1,198,950,446.00 -1,182,304,606.00 -1,480,217,991.00 -1,427,821,059.00
Total 15,402,900,295.00 12,101,199,679.00 15,445,799,068.00 11,847,859,971.00
(4) Main business (Classified by area)
Unit: RMB Yuan
Reporting period Same period of last year
Area
Revenue of sales Costs of sales Revenue of sales Costs of sales
China 8,801,174,730.00 6,306,454,521.00 8,198,906,192.00 5,968,460,723.00
Other countries and regions of Asia 5,671,285,833.00 4,926,631,157.00 5,837,465,382.00 4,602,665,798.00
Europe 343,448,144.00 299,839,503.00 562,045,856.00 530,269,729.00
America 586,991,588.00 568,274,498.00 790,992,756.00 696,225,457.00
Other countries 0.00 0.00 56,388,882.00 50,238,264.00
Total 15,402,900,295.00 12,101,199,679.00 15,445,799,068.00 11,847,859,971.00
(5) The revenue of sales from the top five customers
Unit: RMB Yuan
Customer Main business revenue Proportion of total business revenue (%)
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Customer 1 3,778,832,761.00 23.00%
Customer 2 936,982,154.00 6.00%
Customer 3 642,762,859.00 4.00%
Customer 4 637,403,724.00 4.00%
Customer 5 387,980,137.00 2.00%
Total 6,383,961,635.00 39.00%
Note:
43. Business tax and surcharges
Unit: RMB Yuan
Item Reporting period Same period of last year Calculation and payment standard
Consumption tax 0.00 0.00
Business tax 14,339,614.00 13,068,460.00 5% of taxable operating revenue
Urban maintenance and construction tax 13,605,585.00 30,691,398.00 5%,7% of taxable operation tax and VAT payable
Education surtax 10,025,166.00 22,172,618.00 2%,3% of taxable operation tax and VAT payable
Resources tax 0.00 0.00
Other 0.00 6,814.00
Total 37,970,365.00 65,939,290.00 --
Note:
44. Selling expenses
Selling expenses mainly refer to the labor cost and other selling expenses incurred by the Group in the selling process.
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45. Administrative expenses
Administrative expenses mainly refer to the labor cost, R&D expenses and other administrative expenses incurred by the management personnel of the Group.
46. Financial expense
Unit: RMB Yuan
Item Reporting period Same period of last year
Interest expenses 424,150,685.00 529,545,161.00
Interest income (incomes: negative) -384,942,552.00 -159,453,380.00
Net amount of exchange loss (gains: negative) 58,164,204.00 -188,523,072.00
Other 9,367,235.00 11,843,948.00
Total 106,739,572.00 193,412,657.00
47. Investment income
(1) List of investment income
Unit: RMB Yuan
Item Reporting period Same period of last year
Long-term equity investment income accounted by cost method 0.00 0.00
Long-term equity investment income accounted by equity method 4,390,960.00 -545,119.00
Investment income arising from disposal of long-term equity investments 0.00 0.00
Investment income received from holding of trading financial assets 0.00 0.00
Investment income received from holding of held-to-maturity investments 0.00 0.00
Investment income received from holding of available-for-sale financial
2,533,429.00 2,170,108.00
assets
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Investment income received from disposal of trading financial assets 0.00 0.00
Investment income received from holding of held-to-maturity investments 0.00 0.00
Investment income received from available-for-sale financial assets 0.00 0.00
Other 0.00 0.00
Total 6,924,389.00 1,624,989.00
(2) Long-term equity investment income accounted by equity method
Unit: RMB Yuan
Name of investee Reporting period Same period of last year Reason for increase/decrease
Naught
(3) Long-term equity investment income accounted by equity method
Unit: RMB Yuan
Name of investee Reporting period Same period of last year Reason for increase/decrease
Beijing Nittan Electronic Co., Ltd. 4,511,738.00 2,201,973.00 Associated company earnings increase
AOC Display technology (China) Co., Ltd. 728,584.00 0.00 Associated company profit in reporting period
Erdos BOE Energy Investment Co., Ltd. -20,324.00 -95,615.00 Associated company loss reduced
Beijing Yingfei Hailing Investment Center -1,170,836.00 -582,783.00 Associated company loss increase
Total 4,049,162.00 1,523,575.00 --
Notes of investment income: make notes if there is significant limitation for recovery of investment income. If there isn’t the said limitation, notes too.
Naught
48. Impairment losses
Unit: RMB Yuan
Item Reporting period Same period of last year
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I. Bad debts losses -4,762,214.00 358,813.00
II. Inventory falling price losses 389,938,978.00 519,336,192.00
III. Impairment losses of available-for-sale financial assets 0.00 0.00
IV. Impairment losses of held-to-maturity of investment 0.00 0.00
V. Impairment losses of long-term equity investment 0.00 0.00
VI. Impairment losses of investment property 0.00 0.00
VII. Impairment losses of fixed assets 0.00 0.00
VIII. Impairment losses of engineering materials 0.00 0.00
IX. Impairment loss of construction in progress 0.00 0.00
X. Impairment losses of productive biological assets 0.00 0.00
XI. Impairment losses of oil and gas assets 0.00 0.00
XII. Impairment losses of intangible assets 0.00 0.00
XIII. Impairment losses of goodwill 0.00 0.00
XIV. Other 0.00 0.00
Total 385,176,764.00 519,695,005.00
49. Non-operating gains
(1)
Unit: RMB Yuan
The amount included in the current
Item Reporting period Same period of last year
non-recurring gains and losses
Total gains from disposal of non-current assets 1,072,418.00 706,669.00 1,072,418.00
Including：Gains from disposal of fixed assets 1,063,257.00 706,669.00 1,063,257.00
Gains from disposal of intangible assets 0.00 0.00 0.00
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Gains from debt reconstruction 0.00 0.00 0.00
Gains from non-monetary assets exchange 0.00 0.00 0.00
Acceptance of donations 0.00 0.00 0.00
Government grants 513,933,311.00 167,557,892.00 513,933,311.00
Other 33,354,476.00 37,731,868.00 33,354,476.00
Total 548,360,205.00 205,996,429.00 548,360,205.00
Note:
Naught
(2) List of government grants recorded into current profit and loss
Unit: RMB Yuan
Related to assets/Related to income Belong to non-recurring profit and
Item Reporting period Same period of last year
revenue loss or not
Discount on loan for project 18,134,285.00 13,329,564.00 Related to assets Yes
Government grants on other science Related to assets
141,355,204.00 124,176,043.00 Yes
and research project
Government grants on other science
354,443,822.00 30,052,285.00 Related to revenue Yes
and research project
Total 513,933,311.00 167,557,892.00 -- --
Naught
50. Non-operating expenses
Unit: RMB Yuan
The amount included in the current
Item Reporting period Same period of last year
non-recurring gains and losses
Loss on disposal of non-current assets 2,964,174.00 64,092,449.00 2,964,174.00
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Including: Loss on disposal of fixed assets 2,964,174.00 64,092,449.00 2,964,174.00
Loss on disposal of intangible assets 0.00 0.00 0.00
Loss on debt reconstruction 0.00 0.00 0.00
Loss on exchange of non-monetary assets 0.00 0.00 0.00
External donation 5,000.00 1,000,000.00 5,000.00
Other 6,043,035.00 1,758,078.00 6,043,035.00
Total 9,012,209.00 66,850,527.00 9,012,209.00
Note:
Naught
51. Income tax expense
Unit: RMB Yuan
Item Reporting period Same period of last year
Current income tax expense accounted by tax and relevant regulations 142,450,350.00 26,556,355.00
Adjustment of income tax 13,569,850.00 -3,265,519.00
Total 156,020,200.00 23,290,836.00
52. Calculation procedure of basic earnings per share and diluted earnings per share
Jan.—Jun. 2014
Basic Diluted
EPS EPS
Net profit/loss (RMB Yuan) attributable to common a 1,041,635,714 1,041,635,714
shareholders of the parent Company
Add：weighted average amount of common shares issued in b 20,777,574,085 20,777,574,085
this year
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Basic & Diluted EPS attributable to the parent Company ） c=a/b 0.050 0.050
53. Other comprehensive income
Unit: RMB Yuan
Item Reporting period Last period
1. Profits/(losses) from available-for-sale financial assets -28,432,703.00 9,951,770.00
Less: Effects on income tax generating from available-for-sale financial assets 0.00 0.00
Net amount transferred into profit and loss in the current period that recognized into other
0.00 0.00
comprehensive income in prior period
Subtotal -28,432,703.00 9,951,770.00
2. Interests in the investee entities’ other comprehensive income as per equity method 0.00 0.00
Less: Effects on income tax generating from the interests in the investee entities’ other
0.00 0.00
comprehensive income as per equity method
Net amount transferred into profit and loss in the current period that recognized into other
0.00 0.00
comprehensive income in prior period
Subtotal 0.00 0.00
3. Profits/(losses) from cash flow hedging instrument 0.00 0.00
Less: Effects on income tax generating from cash flow hedging instrument 0.00 0.00
Net amount transferred into profit and loss in the current period that recognized into other
0.00 0.00
comprehensive income in prior period
The adjustment value that is the converted initial recognition amount of arbitrage project 0.00 0.00
Subtotal 0.00 0.00
4. Converted amount of foreign currency financial statements 1,287,347.00 -431,498.00
Less: Net value of disposal of oversea operations that recognized into current profit and loss 0.00 0.00
Subtotal 1,287,347.00 -431,498.00
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5. Other 0.00 0.00
Less: Effects on income tax generating from the others that included into other
0.00 0.00
comprehensive income
Net amount transferred into profit and loss in the current period that recognized into other
0.00 0.00
comprehensive income in prior period
Subtotal 0.00 0.00
Total -27,145,356.00 9,520,272.00
Note:
Naught
54. Notes of Cash Flow Statement
(1) Other cash received relevant to operating activities
Unit: RMB Yuan
Item Amount
Government subsidies related to profits 353,236,009.00
Interest income 99,159,654.00
Guarantee money for a bid / performance bond received 52,267,837.00
Exchange income arising from carry-forward, repurchase 769,518.00
Other 173,467,579.00
Total 678,900,597.00
Notes:
Naught
(2) Other cash paid relevant to operating activities
Unit: RMB Yuan
Item Amount
Daily spending paid 706,861,919.00
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Exchange income arising from carry-forward, repurchase 1,156,143.00
Margin deposits 27,527,093.00
Bank service charges 7,516,752.00
Other 39,308,958.00
Total 782,370,865.00
Note:
(3) Other cash received relevant to investment activities
Unit: RMB Yuan
Item Amount
Interest incomes 159,855,821.00
Tender shall / guarantee money for a bid 104,879,260.00
Government subsidies related to formation of assets 129,635,609.00
Other 8,329,002.00
Total 402,699,692.00
Notes:
Naught
(4) Other cash paid relevant to investment activities
Unit: RMB Yuan
Item Amount
Refund on bid/performance bond / safety construction bond 15,138,000.00
Other 1,453,152.00
Total 16,591,152.00
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Notes:
Naught
(5) Other cash received relevant to financing activities
Unit: RMB Yuan
Item Amount
Interest income arising from deposit of guarantee money 47,313,117.00
Government subsidy related to project loan discount 849,000.00
Other 3,866.00
Total 48,165,983.00
Note:
(6) Other cash paid relevant to financing activities
Unit: RMB Yuan
Item Amount
Paid the bank loan principal and interest 71,708,072.00
Bank charges 4,356,990.00
Cash receive from withdrawing the action 8,228,880.00
Paid raise interest 110,956.00
Restrictive deposit in financial institutions increased 647,494,130.00
Issuance expenses paid and the like 236,267,369.00
Total 968,166,397.00
Note:
Naught
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55. Supplementary information to cash flow statement
(1) Supplementary information to cash flow statement
Unit: RMB Yuan
Supplemental information Reporting period Same period of last year
1. Reconciliation of net profit to net cash flows generated from operations： -- --
Net profit 1,162,898,767.00 1,165,280,769.00
Add: Provision for assets impairments 385,176,764.00 519,693,766.00
Depreciation of fixed assets, oil-gas assets and productive biological assets 2,318,091,904.00 2,144,349,551.00
Amortization of intangible assets 105,142,402.00 67,677,116.00
Amortization of long-term deferred expense 23,631,886.00 14,394,130.00
Losses/gains on disposal of property, intangible asset and other long-term assets
-4,215,514.00 62,027,597.00
(gains: negative)
Losses/gains on scrapped of fixed assets (gains: negative) -200,112.00 539,633.00
Losses/gains from variation of fair value (gains: negative) 0.00 0.00
Financial cost (income: negative) 106,739,572.00 193,412,657.00
Investment loss (gains: negative) -6,582,590.00 -1,624,989.00
Decrease in deferred tax assets (increase: negative) 147,688.00 185,021.00
Increase in deferred tax liabilities (decrease: negative) -806,973.00 -3,450,540.00
Decrease in inventory (increase: negative) -648,569,543.00 -474,697,305.00
Decrease in accounts receivable from operating activities (increase: negative) -752,208,857.00 -1,416,916,674.00
Increase in accounts payable from operating activities (decrease: negative) 564,395,108.00 1,457,018,629.00
Others 0.00 0.00
Net cash flows generated from operating activities 3,253,640,502.00 3,727,889,361.00
2. Significant investing and financing activities without involvement of cash receipts -- --
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and payments
Debt converted into capital 0.00
Convertible company bonds due within 1 year 0.00
Financing leased fixed assets 0.00
3. Change of cash and cash equivalent: -- --
Closing balance of Cash 40,969,934,073.00 22,410,741,327.00
Less: opening balance of cash 16,474,975,849.00 13,556,486,692.00
Plus: closing balance of cash equivalent 0.00 0.00
Less: opening balance of cash equivalents 0.00 0.00
The net increase in cash and cash equivalents 24,494,958,224.00 8,854,254,635.00
(2) Relevant information of acquisition or disposal of subsidiaries and other operation entities in the reporting period
Unit: RMB Yuan
Supplemental information Reporting period Same period of last year
I. Relevant information on acquisition of subsidiaries and other operation entities: -- --
1. Price of acquisition of subsidiaries and other operation entities 534,815,100.00 0.00
2. Cash and cash equivalents paid for acquisition of subsidiaries and other operation
534,815,100.00 4,100,000,000.00
entities
Less: Cash and cash equivalents held by subsidiaries and other operation entities 0.00 761,701,824.00
3. Net cash acquired from subsidiaries and other operation entities 534,815,100.00 0.00
4. Net assets acquired from subsidiaries 1,034,101,406.00 8,069,945,032.00
Current assets 6,035,171,422.00 5,786,863,420.00
Non-current assets 1,408,712,018.00 4,993,606,925.00
Current liabilities 6,339,062,034.00 2,400,525,313.00
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Non-current liabilities 70,720,000.00 310,000,000.00
II. Relevant information on disposal of subsidiaries and other operation entities -- --
1. Price of disposal of subsidiaries and other operation entities 0.00 0.00
2. Cash and cash equivalents received for disposal of subsidiaries and other operation 0.00
0.00
entities
Less: Cash and cash equivalents held by subsidiaries and other operation entities 0.00 0.00
3. Net cash received from disposal of subsidiaries and other operation entities 0.00 0.00
4. Net assets on disposal of subsidiaries 0.00 0.00
Current assets 0.00 0.00
Non-current assets 0.00 0.00
Current liabilities 0.00 0.00
Non-current liabilities 0.00 0.00
(3) Composition of cash and cash equivalents
Unit: RMB Yuan
Item Reporting period Same period of last year
I. Cash 40,969,934,073.00 16,474,975,849.00
Including: Cash on hand 372,323.00 390,112.00
Bank deposit on demand 40,969,561,750.00 16,474,585,737.00
Other monetary funds on demand 0.00 0.00
Central Bank deposit on demand 0.00 0.00
Due from banks 0.00 0.00
Call loan to banks 0.00 0.00
II. Cash equivalents 0.00 0.00
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Including: bond investments due in three months 0.00 0.00
III. Closing balance of cash and cash equivalents 40,969,934,073.00 16,474,975,849.00
Notes:
Naught
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VIII. Related party and related Transaction
1. Information related to parent company of the Company
Proportion of
Proportion of
voting rights
share held by The ultimate
Name of parent Registration of Legal Name of parent owned by parent Organization
Relationship Type Business scope parent company controller of the
company place representative company company against code
against the Company
the Company
Company (%)
(%)
State –owned
Assets
Supervision and
No.12 Jiuxian Operation and Administration
Limited liability Bridge, management of Commission of
Electronics Actual RMB
company Zhaoyang Wang Yan state-owned 0.78% 8.84% the State 63364799-8
Holding controller 1,307,370,000
(state-owned) District, assets within Council of the
Beijing authorization People's
Government of
Beijing
Municipality
State –owned
Assets
No.10 Jiuxian Manufacture
Other limited Supervision and
Bridge, Wang and sale of RMB
BOID Controlling liability 2.44% 6.65% Administration 10110124-9
Zhaoyang Dongsheng electronic 680,982,000
company Commission of
District, Beijing products
the State
Council of the
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People's
Government of
Beijing
Municipality
Naught
2. Information of subsidiaries of the Company
Proportion of
Registration of Legal Proportion of
Name Type Business Type Business scope Registered capital holding shares Organization code
place representative voting rights (%)
(%)
Beijing BOE
Manufacture of
Optoelectronics Controlling Limited liability
Beijing, China Chen Yanshun TFT-LCD and USD 649,110,000 82.49% 82.49% 749353393
Technology Co., subsidiary company
related parts
Ltd.
Chengdu BOE
Manufacture of
Optoelectronics Controlling Other limited RMB
Chengdu, China Zhang Zhaohong TFT-LCD and 100.00% 100.00% 667556648
Technology Co., subsidiary liability company 1,830,000,000
related parts
Ltd.
Hefei BOE Limited liability
Manufacture of
Optoelectronics Controlling company RMB
Hefei, China Chen Yanshun TFT-LCD and 100.00% 100.00% 680822891
Technology Co., subsidiary (Solely-owned by 9,000,000,000
related parts
Ltd legal person)
Beijing BOE
Display Manufacture of
Controlling Other limited RMB
Technology Co., Beijing, China Wang Dongsheng TFT-LCD and 99.01% 99.01% 684351388
subsidiary liability company 17,377,199,300
Ltd. (BOE related parts
Display)
Hebei Xinsheng Controlling Other limited Hefei, China Chen Yanshun Manufacture of RMB 79.49% 79.49% 694100662
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Optoelectronics subsidiary liability company TFT-LCD and 19,500,000,000
Technology Co., related parts
Ltd.
BOE (Hebei)
Manufacture of
Mobile Controlling Limited liability
Langfang,China Liu Xiaodong electronic USD 84,150,000 94.06% 94.06% 785747138
Technology Co., subsidiary company
components
Ltd.
BOE Hyundai
LCD (Beijing) Manufacture of
Controlling Limited liability
Display Beijing, China Liu Xiaodong electronic USD 5,000,000 75.00% 75.00% 737650243
subsidiary company
Technology Co., components
Ltd.
Development of
Beijing BOE
display products
Special Display Controlling Limited liability
Beijing, China Sun Shenglin and sale of RMB 80,000,000 100.00% 100.00% 700222069
Technology Co., subsidiary company
electronic
Ltd.
products
Beijing BOE
Manufacture of
Vacuum Controlling Other limited
Beijing, China Ren Jianchang electronic vacuum RMB 35,000,000 55.00% 55.00% 633709503
Electronics Co., subsidiary liability company
components
Ltd.
Beijing BOE
Manufacture of
Vacuum Controlling Limited liability
Beijing, China Zhou Yuan electronic vacuum RMB 32,000,000 100.00% 100.00% 660506306
Technology Co., subsidiary company
components
Ltd.
Beijing BOE Land Controlling Limited liability Property
Beijing, China Wang Yanjun RMB 55,420,000 70.00% 70.00% 600038889
Co., Ltd. subsidiary company management
Beijing Yinghe Controlling Other limited Beijing, China Wang Yanjun Property RMB 100.00% 100.00% 600066484
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Century Co., Ltd. subsidiary liability company management 233,105,200
Beijing BOE
Multimedia Controlling Limited liability Sales of electronic RMB
Beijing, China Chen Yanshun 100.00% 100.00% 695042257
Technology Co. subsidiary company products 400,000,000
Ltd.
Manufacture of
Beijing Asahi optoelectronic
Controlling Limited liability
Glass Electronics Beijing, China Wang Yanjun components and RMB 61,576,840 100.00% 100.00% 600015572
subsidiary company
Co., Ltd. electronic
components
Beijing BOE
Controlling Limited liability Sales of electronic
Marketing Co., Beijing, China Li Xuezheng RMB 500,000 100.00% 100.00% 791607561
subsidiary company products
Ltd.
Beijing BOE
Merger and
Energy Science Controlling Limited liability
Beijing, China Li Xiao application of PV RMB 50,000,000 100.00% 100.00% 69321350X
and Technology subsidiary company
system
Co., Ltd.
BeijingMatsushita
Controlling Other limited Property RMB
Color CRT Co., Beijing, China Chen Yanshun 88.80% 88.80% 600000143
subsidiary liability company management 1,240,754,049
Ltd.
Seongnam,
BOE (Korea) Co., Controlling Limited liability Sales of electronic
Gyeonggi-do, Li Xuezheng USD 100,000 100.00% 100.00% 410665718
Ltd. subsidiary company products
Korea
Design,
BOE manufacture,
Controlling Limited liability
Optoelectronics BVI Chen Yanshun trade and USD 600,000 100.00% 100.00% 09266572X
subsidiary company
Holding Co., Ltd. investment of
electronic
181
2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
information
industry
Beijing BOE Home films and
Digital Controlling Limited liability television,
Beijing, China Wang Dongsheng USD 10,000,000 75.00% 75.00% 600086442
Technology Co., subsidiary company equipment
Ltd. manufacture
Manufacture of
BOE Light
Controlling Limited liability electronics and RMB
Technology, Co., Suzhou, China Lu Rui 90.51% 90.51% 735740093
subsidiary company relevant 337,710,424
Ltd.
component
R&D,
Beijing BOE
Controlling Limited liability manufacture and RMB
Vision-electronic Beijing, China Lu Rui 100.00% 100.00% 694956807
subsidiary company sales of electronic 560,000,000
Co., Ltd.
products
Manufacture of
optoelectronics
Beijing BOE Controlling Limited liability
Beijing, China Cao Hong components and RMB 11,700,000 80.77% 80.77% 101711477
Semi-conductor subsidiary company
other electronic
components
Active matrix
Erdos Yuansheng
Controlling Limited liability organic light RMB
Optoelectronics Erdos, China Chen Yanshun 100.00% 100.00% 575664748
subsidiary company emitting diode 6,104,000,000
Co., Ltd.
display device
Beijing
Zhongpingxun Controlling Limited liability Property
Beijing, China Wang Yanjun RMB 10,000,000 100.00% 100.00% 57522132-2
Technology Co., subsidiary company management
Ltd.
Beijing Controlling Limited liability Beijing, China Wang Yanjun Property RMB 10,000,000 100.00% 100.00% 57532230-6
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Zhongxiangying subsidiary company management
Technology Co.,
Ltd.
Investment,
construction,
R&D, production
Chongqing BOE and sales of new
Optoelectronics Controlling Limited liability type of RMB
Chongqing, China Chen Yanshun 93.17% 93.17% 059893448
Technology Co., subsidiary company semiconductor 7,326,000,000
Ltd display device,
complete machine
and related
products
3. Information of joint ventures and associated enterprise
Registered Legal Percentage of Percentage of
Name of investee Business type Business nature Registered capital Relationship Organization code
address representative shareholding (%) voting rights (%)
I. Joint venture
II. Associated enterprise
Development and
Beijing Nissin
manufacture of
Electronics
Limited liability electron gun and Associated
Precision Beijing, China Liang Xinqing USD 13,300,000 27.04% 27.04% 600042335
company its components; corporation
Component Co.,
sales of self-made
Ltd.
products
Beijing Nittan Development and
Limited liability Associated
Electronics Co., Beijing, China Liang Xinqing production of USD 2,000,000 40.00% 40.00% 600042036
company corporation
Ltd. terminal,
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
connector,
pressure machine;
sales of self-made
products
Investment
Beijing Yingfei
management,
Hailing Venture
Limited liability assets Associated
Investment and Beijing, China Wang Dongsheng RMB 1,000,000 35.00% 35.00% 587743347
company management and corporation
Management Co.,
investment
Ltd.
consultancy
Erdos BOE
Energy Other limited Energy Associated
Erdos, China Wang Yanjun RMB 50,000,000 20.00% 20.00% 581759030
Investment Co., liability company investment corporation
Ltd.
Project
investment,
Beijing Yingfei
Limited investment Associated
Hailing Beijing, China Wang Dongsheng Inapplicable 40.00% 40.00% 597670532
partnership advisory, enterprise
Investment Center
investment
management
Development,
production and
sales of LCD
TPV Display digital television,
Limited Liability Associated
Technology Beijing, China Xie Jicong LCD, plasma, USD 21,739,100 8.00% 8.00% 551352539
Company corporation
(China) Co., Ltd. digital television,
liquid crystal
display modules
& components
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
and semi-finished
product suite and
production of
mold
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
4. Information of other related parties of the Company
Name of other related party Relationship Organization code
Beijing State-owned Assets Management Corporation that holds over 5% shares of
68435529-0
Co., Ltd. the Company
Being E-TOWN International Investment Corporation that holds over 5% shares of
10112832-9
& Development Co., Ltd. the Company
Beijing Economic-Technological Corporation controlled by the same
101514043
Investment & Development Corp. ultimate controlling company
Beijing Sevenstar Huasheng Electronics Corporation controlled by the same
774078573
Machinery Co., Ltd. ultimate controlling company
Beijing Senvenstar Front Electronics Co., Corporation controlled by the same
76675202X
Ltd. ultimate controlling company
Beijing Sevenstar Huachuang Integrated Corporation controlled by the same
668436971
Circuit Equipment Co., Ltd. ultimate controlling company
Beijing Sevenstar Hongtai Electronics Corporation controlled by the same
783954088
Equipment Co., Ltd. ultimate controlling company
Corporation controlled by the same
Beijing Sevenstar Electronics Co.,Ltd. 726377528
ultimate controlling company
Beijing Sevenstar Flight Electronic Co., Corporation controlled by the same
717781924
Ltd. ultimate controlling company
Corporation controlled by the same
Beijing Jile Electronics Group Co., Ltd. 101209006
ultimate controlling company
Beijing BBEF Science & Technology Co., Corporation controlled by the same
726341699
Ltd. ultimate controlling company
Beijing Zhengdong Electronic Power Corporation controlled by the same
101101150
Group Co., Ltd. ultimate controlling company
Beijing YanDong Microelectronics Co., Corporation controlled by the same
101125734
Ltd. ultimate controlling company
Beijing Oriental Electronic Materials Co., Corporation controlled by the same
10171140X
Ltd. ultimate controlling company
Beijing Dongdian Industrial Development Corporation controlled by the same
101832586
Co., Ltd. ultimate controlling company
Corporation controlled by the same
Beijing PCB Source Corporation 71774666X
ultimate controlling company
Associated individual in the entity
Beijing Xinyihua Technology Co., Ltd. performed as a senior management 067278840
personnel
Hefei Xinyihua Intelligent Machine Co., Associated individual in the entity 073945216
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Ltd. performed as a senior management
personnel
Note:
5. Related-party transactions
(1) Purchase of goods and acceptance of service
Unit: RMB Yuan
Pricing method and Reporting period Same period of last year
Content of the decision-making
Related party Proportion Proportion
transaction procedures for the Amount Amount
(%) (%)
transaction
Based on market
Beijing Electronics price and pricing
Supplemental raw
Holding Co., Ltd and after fair 118,009,222.00 0.61% 27,970,000.00 0.24%
materials
its subsidiaries discussion by each
party.
Based on market
Beijing Electronics Repair and price and pricing
Holding Co., Ltd and transformation, service after fair 1,015,136.03 0.88% 1,360,000.00 0.29%
its subsidiaries and processing discussion by each
party.
Based on market
Beijing Nissin price and pricing
Metal frame,
Electronics Precision after fair 1,118,865.00 0.01% 3,710,000.00 0.03%
lampshade
Component Co., Ltd. discussion by each
party.
Based on market
Hefei Xin Yi Hua price and pricing
Intelligent Machine Equipment after fair 4,563,000.00 0.02% 0.00 0.00%
Co., Ltd. discussion by each
party.
Sales of goods and rendering of service
Unit: RMB Yuan
Pricing method and Reporting period Same period of last year
Content of the decision-making
Related party Proportion Proportion
transaction procedures for the Amount Amount
(%) (%)
transaction
Based on market
Electronics Holding Products, power,
price and pricing 133,135.00 0.00% 90,000.00 0%
and its subsidiaries energy
after fair
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
discussion by each
party.
Based on market
price and pricing
Beijing Nittan Products, power,
after fair 366,008.00 0.00% 400,000.00 0.05%
Electronic Co., Ltd. energy
discussion by each
party.
Based on market
TPV Display price and pricing
Technology (China) Products after fair 230,994,417.00 1.02% 0.00 0.00%
Co., Ltd. discussion by each
party.
Based on market
Hefei Xin Yi Hua price and pricing
Intelligent Machine Render service after fair 13,800.00 0.33% 0.00 0.00%
Co., Ltd. discussion by each
party.
(2) Related deposit/contract
Naught
(3) Related leased items
Leased items of the company
Unit: RMB Yuan
The lease income
Category of Pricing evidence
Name of lesser Name of lessee Start date of lease End date of lease confirmed in the
leased assets of lease income
report period
Beijing Nittan
BOE Technology
Electronic Co., House 1 Jan. 2012 26 Nov. 2015 Lease contract 708,591.00
Group Co., Ltd.
Ltd.
Beijing Dongdian
BOE Technology Industrial
House 1 Sep. 2013 31 Aug. 2014 Lease contract 37,824.00
Group Co., Ltd. Development Co.,
Ltd.
Beijing Dongdian
BOE Technology Industrial
House 1 Jan. 2014 31 Dec. 2014 Lease contract 13,315.00
Group Co., Ltd. Development Co.,
Ltd.
Beijing Dongdian
BOE Technology Industrial
House 24 Jun. 2012 23 Jun. 2015 Lease contract 343,044.00
Group Co., Ltd. Development Co.,
Ltd.
(4) Related-party guarantee
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Naught
(5) Inter-bank lending capital by related party
Naught
(6) Asset assignment and debt restructuring of related party
Naught
(7) Other related transactions
Naught
6. Accounts receivable and payable of related parties
Accounts receivable and prepaid of listed related parties
Unit: RMB Yuan
Closing balance Opening balance
Name Related party
Book balance Bad-debt provision Book balance Bad-debt provision
Electronics Holding
Accounts receivable 644,679.00 66,118.00 369,118.00 66,118.00
and its subsidiaries
Beijing Nissin
Accounts receivable Electronics Precision 556,227.00 0.00 556,227.00 0.00
Component Co., Ltd.
Beijing Nittan
Accounts receivable 19,558.00 0.00 308,104.00 0.00
Electronic Co., Ltd.
Electronics Holding
Other accounts receivable 161,983.00 0.00 127,900.00 0.00
and its subsidiaries
Electronics Holding
Prepayment 0.00 0.00 1,054,304.00 0.00
and its subsidiaries
TPV Display
Accounts receivable Technology (China) 121,674,973.00 0.00 17,445,784.00 0.00
Co., Ltd.
Amount due to listed related parties
Unit: RMB Yuan
Name Related party Closing balance Opening balance
Electronics Holding and its
Accounts payable 57,928,188.00 18,033,100.00
subsidiaries
Electronics Holding and its
Other accounts payable 9,589,725.00 9,674,243.00
subsidiaries
Beijing Nissin Electronics
Accounts payable Precision Component Co., 57,269.00 2,164,650.00
Ltd.
Beijing Nissin Electronics
Other accounts payable Precision Component Co., 15,000.00 15,000.00
Ltd.
Accounts payable Hefei Xin Yi Hua Intelligent 456,300.00 0.00
189
2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Machine Co., Ltd.
190
2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
IX. Contingencies
1. Contingent liability and financial impacts caused by pending action or arbitration
Naught
2. Contingent liability and financial impacts caused by provision of guarantee for other company
Naught
X. Commitments
1. Significant commitments
(1) Capital commitments
30 Jun. 2014 31, Dec, 2013
External investment contracts entered into but not performed or partially
13,613,142,482 12,703,040,205
performed
External investment contracts authorized but not entered into contact 29,486,394,106 10,003,636,566
Total 43,099,536,588 22,706,676,771
(2) Operating commitments
30 Jun. 2014 31, Dec, 2013
Within 1 year (including 1 year) 3,806,338 10,818,146
1 years to 2 years (including 2 year) 2,540,119 4,918,939
2 years to 3 years (including 2 year) 1,856,425 1,847,096
Over 3 years 2,924,569 3,109,279
Total 11,127,451 20,693,460
2. Fulfillment of previous commitments
They were fulfilled as scheduled in the contracts.
XI. Events after the balance sheet date
1. Significant events after the balance sheet date
Naught
Unit: RMB Yuan
Impacts on the
Reason of fail to
Item Content financial situation
estimate the impacts
and operation results
According to July 25,2014 the Second interim shareholders
meeting “the motion about providing security to the
subsidiaries ”, BOE will provide guarantee which equals to
Matters to provide
RMB 53.2 billion for the loan of Hefei BOE,Heifei Xinsheng, Naught —
guarantee for subsidiary
BOE display, Yuan Sheng Optoelectronics, Chongqing BOE
and long-term guarantee amount of Heifei Xinsheng and
Chongqing BOE. Until now, the relevant guarantee agreemeynt
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
have not yet been signed.
According to August 14,2014 the Second interim shareholders
meeting “proposal about break-even financial service”, in the
premise that the sufficient fund for daily operations and risk
Matters regarding
control, short-term break even financial services will be used its
short-term break even Naught —
own funds no more than 2.5 billion yuan. The limit for the fund
financial services
can be used repeated. At present, our Group is actively
preparing the prior period of financial services that will be
lauched recently.
According to June 25,2014 Seventh 15th the Board Directors
Matters regarding the
meeting “the emotion about acquisition of Beijing BOE
acquisition of part of the
Optoelectonics Technology Co., Ltd.”, our Group is going to
shares of Beijing BOE Naught —
acquired 17.51% of HYDIS Technology Co., ltd. (hereinafter
Optoelectronics
referrd to as HYDIS) stock rights. Until now, the equity
Technology Co., Ltd.
acquisition is in progress.
XII. Other significant events
1. Assets and liabilities measured by fair value
Unit: RMB Yuan
Changes of gains Accumulative
Withdrawn
and losses of fair changes of fair
Item Opening amount impairment in Closing amount
value in the value included in
reporting period
reporting period equity
Financial assets
1.Financial assets
recognized into current
gains and losses by
0.00 0.00 0.00 0.00 0.00
calculated in fair value
(excluded derivative
financial assets)
2.Derivative financial
0.00 0.00 0.00 0.00 0.00
assets
3.Available-for-sale 0.00
254,506,569.00 0.00 -28,432,703.00 226,073,866.00
financial assets
Subtotal of financial 0.00
254,506,569.00 0.00 -28,432,703.00 226,073,866.00
assets
Others 0.00 0.00 0.00 0.00 0.00
Total 254,506,569.00 0.00 -28,432,703.00 0.00 226,073,866.00
Financial liabilities 0.00 0.00 0.00 0.00 0.00
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
2. Foreign financial assets and financial liability
Unit: RMB Yuan
Changes of
gains and Withdrawn
Accumulative changes of
losses of fair impairment in
Item Opening amount fair value included in Closing amount
value in the reporting
equity
reporting period
period
Financial assets
Available-for-sale
139,225,722.00 0.00 -9,382,888.00 0.00 129,842,834.00
financial assets
Subtotal of financial
139,225,722.00 0.00 -9,382,888.00 0.00 129,842,834.00
assets
XIII. Notes to the financial statements of the Company
1. Accounts receivable
(1) Accounts receivable
Unit: RMB Yuan
Closing balance Opening balance
Items Book value Provision for bad debts Book value Provision for bad debts
Amount Proportion Amount Proportion Amount Proportion Amount Proportion
Accounts receivable
with significant
single amount and
0.00 0.00% 0.00 0.00% 0.00 0.00% 0.00 0.00%
individually
withdrawn bad debt
provision
Accounts receivable for which bad debt provisions are made on the group basis
Credit risk groups 36,231,337.00 56.47% 0.00 0.00% 34,922,928.00 56.16% 0.00 0.00%
Subtotal of the
36,231,337.00 56.47% 0.00 0.00% 34,922,928.00 56.16% 0.00 0.00%
groups
Accounts receivable
with insignificant
single amount but 11.56% 11.84%
27,927,842.00 43.53% 3,228,395.00 27,261,861.00 43.84% 3,228,395.00
individually
withdrawn bad debt
provision
Total 64,159,179.00 -- 3,228,395.00 -- 62,184,789.00 -- 3,228,395.00 --
Notes to category of accounts receivable:
Naught
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Accounts receivable with significant single amount and individually withdrawn bad debt provision at period-end
□Applicable √Inapplicable
In the groups, accounts receivable adopting aging analysis method to withdraw bad debt provision:
□Applicable √Inapplicable
In the groups, accounts receivable adopting balance percentage method to withdraw bad debt provision:
□Applicable √Inapplicable
In the groups, accounts receivable adopting other methods to withdraw bad debt provision:
√Applicable □Inapplicable
Unit: RMB Yuan
Name of the group Book balance Bad debts provision
Group of credit risks 36,231,337.00 0.00
Total 36,231,337.00 0.00
Accounts receivable with insignificant single amount and individually withdrawn bad debt provision at period-end
√Applicable □Inapplicable
Unit: RMB Yuan
Content of accounts
Book balance Bad debts provision Withdrawal proportion Withdrawal reason
receivable
11.56% Calculated by recoverable
Payment for goods 27,927,842.00 3,228,395.00
amount
Total 27,927,842.00 3,228,395.00 -- --
(2) Information of accounts receivable reversed or recovered in the report period
Unit: RMB Yuan
Withdrawal amount of
Content of accounts Reason for reversal or Basis on recognition of Reversed or recovered
bad debt provision before
receivable recovery provision for bad debts amount
the reversal or recovery
Naught
The withdrawal of bad debt provision of accounts receivable with significant single amount or insignificant single amount but
individually made impairment test at the end of report period:
Unit: RMB Yuan
Content of accounts Withdrawal proportion
Book balance Amount of bad debts Reason
receivable (%)
11.56% Calculated by
Payment for goods 27,927,842.00 3,228,395.00
recoverable amount
Total 27,927,842.00 3,228,395.00 -- --
Notes to accounts receivable with insignificant single amount but large risks of groups after grouping by credit risks characteristics:
Naught
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
(3) Accounts receivable that written off in the reporting period
Unit: RMB Yuan
Whether occurred
Entity Nature Time Amount Reason because of related
party transactions
Naught
Note:
Naught
(4) Accounts receivable of shareholders with more than 5% (including 5%) of the voting shares of the
Company in reporting period
Unit: RMB Yuan
Closing amount Opening amount
Entity
Book balance Bad debt provision Book balance Bad debt provision
Naught
（5）Nature or content of other receivables with large amounts
Naught
(6) Accounts receivable due to the top five entities
Unit: RMB Yuan
Name of company Relationship Amount Term Proportion (%)
1 Within 1 year /1-2 years
Customer 1 Subsidiary 21,869,829.00 34.09%
/2-3 years
1 Within 1 year /1-2 years
Customer 2 Subsidiary 20,776,775.00 32.38%
/2-3 years /over 3 years
Customer 3 Non-related party 3,753,911.00 Within 1 year 5.85%
Customer 4 Subsidiary 3,041,660.00 Within 1 year 4.74%
Customer 5 Non-related party 2,672,218.00 Within 1 year 4.16%
Total -- 52,114,393.00 -- 81.22%
(7) Accounts receivable due from related parties
Unit: RMB Yuan
Name of company Relationship Amount Proportion (%)
Related party 1 Subsidiary 21,869,829.00 34.09%
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Related party 2 Subsidiary 20,776,775.00 32.38%
Related party 3 Subsidiary 3,920,099.00 6.11%
Ultimate control and its affiliated
Related party 4 179,303.00 0.28%
enterprises
Related party 5 Associated company 65,565.00 0.10%
Other Subsidiary 5,221,120.00 8.14%
Total -- 52,032,691.00 81.10%
（8）
Transfer amount of account receivable not qualify for derecognization conditions was RMB 0.00
（9）Account receivable for the asset securitization need to briefly explain Related arrangement
Naught
2. Other accounts receivable
（1）Other accounts receivable
Unit: RMB Yuan
Closing balance Opening balance
Book balance Bad debt provision Book balance Bad debt provision
Category
Proportion Proportion Proportion Proportion
Amount Amount Amount Amount
(%) (%) (%) (%)
Other accounts receivable
with significant single
Proportion Proportion
amount and individually Proportion (%) Amount Amount Proportion (%) Amount 0.00%
(%) (%)
withdrawn bad debt
provision
Other accounts receivable for which bad debt provisions are made on the group basis
Group of credit risks 302,269,544.00 100.00% 0.00 0.00% 508,906,713.00 100.00% 0.00 0.00%
Subtotal of the groups 302,269,544.00 100.00% 0.00 0.00% 508,906,713.00 100.00% 0.00 0.00%
Other accounts receivable
with insignificant single
amount but individually 0.00 0.00% 0.00 0.00% 0.00 0.00% 0.00 0.00%
withdrawn bad debt
provision
Total 302,269,544.00 -- 0.00 -- 508,906,713.00 -- 0.00 --
Notes:
Naught
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Other accounts receivable with significant single amount and individually withdrawn bad debt provision at period-end:
□Applicable √Inapplicable
In the groups, other accounts receivable adopting aging analysis method to withdraw bad debt provision:
□Applicable √Inapplicable
In the groups, other accounts receivable adopting balance percentage method to withdraw bad debt provision:
□Applicable √Inapplicable
In the groups, other accounts receivable adopting other methods to withdraw bad debt provision:
√Applicable □Inapplicable
Unit: RMB Yuan
Name of the groups Book balance Bad debts of provision
Group of credit risks 302,269,544.00 0.00
Total 302,269,544.00 0.00
Other accounts receivable with insignificant single amount but individually withdrawn bad debt provision at period-end:
□Applicable √Inapplicable
(2) Other accounts receivable returned or collected during the reporting period
Unit: RMB Yuan
Basic of recognizing the Accumulative amount of
Reason of returned or Amount of returned or
Content original bad debt bad debt provision before
collected collected
provision returned or collected
Naught
Other account receivable with significant or insignificant single amount but individually made impairment test at the end of
reporting period
Unit: RMB Yuan
Content of other Withdrawal proportion
Book balance Amount of bad debts Reason
accounts receivable (%)
Naught
Notes to accounts receivable with insignificant single amount but large risks of groups after grouping by credit risks characteristics:
Naught
(3) Other Accounts receivable that written off in the reporting period
Unit: RMB Yuan
Whether occurred
Entity Nature Time Amount Reason because of related party
transactions
Naught
Note:
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Naught
(4) Other accounts receivable of shareholders with more than 5% (including 5%) of the voting shares of
the Company in reporting period
Unit: RMB Yuan
Closing amount Opening amount
Entity
Book balance Bad provision Book balance Bad provision
Naught
（5）Nature or content of other receivables with large amounts
Naught
(6) Other accounts receivable due to the top five entities
Unit: RMB Yuan
Name of company Relationship Amount Term Proportion (%)
Customer 1 Subsidiary 189,702,568.00 Within 1year/1 to 2years 62.76%
Customer 2 Subsidiary 19,742,826.00 2-3 years 6.53%
Customer 3 Non-related party 16,495,000.00 2-3 years 5.46%
Customer 4 Subsidiary 7,600,000.00 Within 1year 2.51%
Customer 5 Subsidiary 6,274,268.00 Within 1year 2.08%
Total -- 239,814,662.00 -- 79.34%
(7) Other account receivable due from related parties
Unit: RMB Yuan
Name of company Relationship Amount Proportion (%)
Related party 1 Subsidiary 189,702,568.00 62.76%
Related party 2 Subsidiary 19,742,826.00 6.53%
Related party 3 Subsidiary 7,600,000.00 2.51%
Related party 4 Subsidiary 6,274,268.00 2.08%
Other Subsidiary 13,194,637.00 4.37%
Total -- 236,514,299.00 78.25%
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
（8）
Transfer amount of account receivable not qualify for derecognization conditions was RMB 0.00
（9）Account receivable for the asset securitization need to briefly explain Related arrangement
Naught
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
3. Long-term equity investments
Unit: RMB Yuan
Reasons for
Voting inconformity
Withdrawal
Shareholding power between Cash
Increasing or of
Accounting Initial investment proportion proportion Shareholding Depreciation dividends
Investee Opening balance decreasing Closing balance depreciation
method cost for investee for proportion reserves for this
amount reserves for
(%) investee and Voting period
this period
(%) power
proportion
Beijing BOE Vacuum Cost
19,250,000.00 19,250,000.00 0.00 19,250,000.00 55.00% 55.00% No 0.00 0.00 0.00
Electronics Co., Ltd. method
Beijing Yinghe Century
Cost
Land Co., Ltd.("Yinghe 333,037,433.00 333,037,433.00 0.00 333,037,433.00 100.00% 100.00% No 0.00 0.00 0.00
method
Century
Beijing BOE Cost
9,450,000.00 9,450,000.00 0.00 9,450,000.00 80.77% 80.77% No 0.00 0.00 0.00
Semi-conductor method
BOE Optoelectronics
Technology Co., Ltd. Cost
329,961,914.00 329,961,914.00 0.00 329,961,914.00 90.51% 90.51% No 0.00 0.00 0.00
(Optoelectronics method
Technology)
BOE Hyundai LCD
Cost
(Beijing) Display 31,038,525.00 31,038,525.00 0.00 31,038,525.00 75.00% 75.00% No 0.00 0.00 0.00
method
Technology Co., Ltd.
BOE (Hebei) Mobile Cost
518,140,140.00 518,140,140.00 0.00 518,140,140.00 94.06% 94.06% No 0.00 0.00 0.00
Technology Co., Ltd method
Beijing BOE Land Co., Cost 7,731,474.00 7,731,474.00 0.00 7,731,474.00 70.00% 70.00% No 0.00 0.00 0.00
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Ltd. method
Beijing Zhongxiangying Cost
10,000,000.00 10,000,000.00 0.00 10,000,000.00 100.00% 100.00% No 0.00 0.00 0.00
Technology Co., Ltd. method
Beijing Zhongpingxun Cost
10,000,000.00 10,000,000.00 0.00 10,000,000.00 100.00% 100.00% No 0.00 0.00 0.00
Technology Co., Ltd. method
Beijing BOE
Cost
Optoelectronics 4,172,288,084.00 4,172,288,084.00 0.00 4,172,288,084.00 82.49% 82.49% No 0.00 0.00 0.00
method
Technology Co., Ltd.
Beijing BOE Special
Cost
Display Technology Co., 80,000,000.00 80,000,000.00 0.00 80,000,000.00 100.00% 100.00% No 60,000,000.00 0.00 0.00
method
Ltd (" Special Display ")
BOE Optoelectronics Cost
1,984,685.00 1,984,685.00 0.00 1,984,685.00 100.00% 100.00% No 0.00 0.00 0.00
Holding Co., Ltd. method
Cost
BOE (Korea) Co., Ltd. 788,450.00 788,450.00 0.00 788,450.00 100.00% 100.00% No 0.00 0.00 0.00
method
Beijing BOE marketing Cost
500,000.00 500,000.00 0.00 500,000.00 100.00% 100.00% No 0.00 0.00 0.00
co., LTD method
Beijing BOE Digital Cost
12,416,550.00 12,416,550.00 0.00 12,416,550.00 75.00% 75.00% No 12,416,550.00 0.00 0.00
Technology Co., Ltd method
Beijing BOE Vacuum
Cost
Technology Co., Ltd.(" 32,000,000.00 32,000,000.00 0.00 32,000,000.00 100.00% 100.00% No 0.00 0.00 0.00
method
Vacuum Technology ")
Beijing Asahi Glass
Cost
Electronics Co., Ltd.(" 30,888,470.00 30,888,470.00 0.00 30,888,470.00 100.00% 100.00% No 0.00 0.00 0.00
method
Asahi Glass ")
Chengdu BOE Cost
1,833,149,991.00 1,833,149,991.00 0.00 1,833,149,991.00 100.00% 100.00% No 0.00 0.00 0.00
Optoelectronics method
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Technology Co., Ltd.("
Optoelectronics
Technology ")
Hefei BOE
Optoelectronics
Cost
Technology Co., 9,000,000,000.00 9,000,000,000.00 0.00 9,000,000,000.00 100.00% 100.00% No 0.00 0.00 0.00
method
Ltd("Hefei
Optoelectronics")
BeijingMatsushita Color
Cost
CRT Co., Ltd.(" 424,823,089.00 424,823,089.00 0.00 424,823,089.00 88.80% 88.80% No 0.00 0.00 0.00
method
Matsushita Color ")
Beijing BOE Multimedia
Cost
Technology Co. Ltd.(" 400,000,000.00 400,000,000.00 0.00 400,000,000.00 100.00% 100.00% No 0.00 0.00 0.00
method
Multimedia Technology ")
Beijing BOE Energy
Cost
Science and Technology 50,000,000.00 50,000,000.00 0.00 50,000,000.00 100.00% 100.00% No 0.00 0.00 0.00
method
Co., Ltd
Beijing BOE
Cost
Vision-electronic Co., 560,000,000.00 560,000,000.00 0.00 560,000,000.00 100.00% 100.00% No 0.00 0.00 0.00
method
Ltd.("Vision-electronic ")
Beijing BOE Display
Technology Co., Ltd. Cost
17,237,999,999.00 8,705,000,000.00 8,532,999,999.00 17,237,999,999.00 99.01% 99.01% No 0.00 0.00 0.00
(BOE Display)(" Display method
Technology ")
Erdos Yuansheng
Optoelectronics Co., Cost
6,104,000,000.00 3,604,000,000.00 2,500,000,000.00 6,104,000,000.00 100.00% 100.00% No 0.00 0.00 0.00
Ltd.(" Yuansheng method
Optoelectronics ")
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Our
company,
Hefei BOE
and BOE
Display
providing
RMB
2000000
yuan,
6500000
Erdos Hao Sheng Energy
Cost yuan and
Investment co., LTD(" 2,000,000.00 2,000,000.00 0.00 2,000,000.00 20.00% 100.00% 0.00 0.00 0.00
method 1500000
Hao Sheng Energy ")
yuan jointly
funded Hao
Sheng
Energy. The
company has
20% direct
vote, and
80% indirect
vote through
subsidiaries.
Hefei Xinsheng
Optoelectronics Cost
15,495,000,000.00 6,000,000,000.00 9,495,000,000.00 15,495,000,000.00 79.49% 79.49% No 0.00 0.00 0.00
Technology co., LTD method
(“Hefei Xinsheng”)
Chongqing BOE
Cost
Optoelectronics 6,839,669,199.00 4,854,099.00 6,834,815,100.00 6,839,669,199.00 93.17% 93.17% No 0.00 0.00 0.00
method
Technology Co. Ltd("
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Chongqing BOE")
Beijing Nissin Electronics
Equity
Precision Component Co., 18,613,234.00 0.00 0.00 0.00 27.04% 27.04% No 0.00 0.00 0.00
method
Ltd.
Beijing Nittan Electronics Equity
6,650,640.00 20,814,107.00 3,671,740.00 24,485,847.00 40.00% 40.00% No 0.00 0.00 840,000.00
Co., Ltd. method
Beijing Yin Fei Hai Lin
Investment Management Equity
350,000.00 0.00 0.00 0.00 35.00% 35.00% No 0.00 0.00 0.00
Co., Ltd.(" Yin Fei Hai method
Lin ")
Erdos BOE energy
Equity
investment Co., Ltd. (" 2,000,000.00 9,511,000.00 -20,324.00 9,490,676.00 20.00% 20.00% No 0.00 0.00 0.00
method
BOE energy investment ")
Beijing Yin Fei Hai Lin Equity
30,000,000.00 28,178,429.00 -1,170,836.00 27,007,593.00 40.00% 40.00% No 0.00 0.00 0.00
investment centre method
TPV Display Technology Equity
10,851,114.00 9,802,416.00 728,584.00 10,531,000.00 8.00% 8.00% No 0.00 0.00 0.00
(China) Co., Ltd. method
Cost
TeralaneSemiconductorInc 11,868,000.00 11,868,000.00 0.00 11,868,000.00 7.29% 7.29% No 0.00 0.00 0.00
method
Beijing Digital TV
National Engineering Cost
6,250,000.00 6,250,000.00 0.00 6,250,000.00 12.50% 12.50% No 0.00 0.00 0.00
Laboratory co., LTD method
ZhejiangBOE Display
Cost
Technology co., LTD 106,391,635.00 106,391,635.00 0.00 106,391,635.00 7.03% 7.03% No 105,821,603.00 0.00 0.00
method
Other Cost 180,000.00 180,000.00 0.00 180,000.00 0.00% 0.00% No 180,000.00 0.00 0.00
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
method
Total -- 63,739,272,626.00 36,376,298,491.00 27,366,024,263.00 63,742,322,754.00 -- -- -- 178,418,153.00 0.00 840,000.00
Notes:
Naught
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
4. Revenue and Cost of Sales
(1) Revenue, Cost of Sales
Unit: RMB Yuan
Item Reporting period Same period of last year
Main business revenue 0.00 4,116,232.00
Other business revenue 394,606,138.00 218,014,089.00
Total 394,606,138.00 222,130,321.00
Cost of sales 56,752,883.00 56,605,491.00
(2)Main business (Classified by industry)
Unit: RMB Yuan
Reporting period Same period of last year
Industry
Revenue of sales Cots of sales Revenue of sales Cots of sales
Other business 0.00 0.00 4,116,232.00 3,304,074.00
Total 0.00 0.00 4,116,232.00 3,304,074.00
(3) Main business (Classified by product)
Unit: RMB Yuan
Reporting period Same period of last year
Product
Revenue of sales Costs of sales Revenue of sales Costs of sales
Other business 0.00 0.00 4,116,232.00 3,304,074.00
Total 0.00 0.00 4,116,232.00 3,304,074.00
(4) Main business (Classified by area)
Unit: RMB Yuan
Reporting period Same period of last year
Area
Revenue of sales Costs of sales Revenue of sales Costs of sales
Other business 0.00 0.00 4,116,232.00 3,304,074.00
Total 0.00 0.00 4,116,232.00 3,304,074.00
(5) Revenue of sales from the top five customers
Unit: RMB Yuan
Customers Total revenue of sales Proportion of total
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
revenue of sales (%)
Customer1 8,685,333.00 2.00%
Customer2 10,202,337.00 3.00%
Customer3 1,437,107.00 0.00%
Customer4 1,154,063.00 0.00%
Customer5 1,296,041.00 0.00%
Total 22,774,881.00 5.00%
Notes:
Naught
5. Investment income
(1)List of investment income
Unit: RMB Yuan
Item Reporting period Same period of last year
Long-term equity investment income accounted by cost
0.00 0.00
method
Long-term equity investment income accounted by equity
4,049,161.00 -545,119.00
method
Investment income arising from disposal of long-term equity
0.00 0.00
investments
Investment income received from holding of trading financial
0.00 0.00
assets
Investment income received from holding of held-to-maturity
0.00 0.00
investments
Investment income received from holding of available-for-sale
2,533,429.00 2,170,108.00
financial assets
Investment income received from disposal of trading financial
0.00 0.00
assets
Investment income received from holding of held-to-maturity
0.00 0.00
investments
Investment income received from available-for-sale financial
0.00 0.00
assets
Other 0.00 0.00
Total 6,582,590.00 1,624,989.00
（2）Long-term equity investment income accounted by cost method
Unit: RMB Yuan
Name of investee Reporting period Same period of last Reason for increase/decrease YoY
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
year
Naught
(3) Long-term equity investment income accounted by equity method
Unit: RMB Yuan
Same period of last
Name of investee Reporting period Reason for increase/decrease YoY
year
Associated corporation earnings
Nittan Electronics 4,511,738.00 2,201,973.00
increased
Associated corporation profited in
TPV Display Technology (China) Co., Ltd. 728,584.00 0.00
reporting period
Ordos BOE Energy Investment Co., Ltd. -20,324.00 -95,615.00 Associated corporation loss decreased
Beijing Yingfei HaiLin Investment Center -1,170,836.00 -582,783.00 Associated corporation loss increased
Total 4,049,162.00 1,523,575.00 --
Note
Naught
6. Supplemental information of Cash Flow Statement
Unit: RMB Yuan
Supplemental information Reporting period Same period of last year
1. Reconciliation of net profit to net cash flows generated from
-- --
operations：
Net profit 28,034,589.00 -106,063,187.00
Add: Provision for assets impairments 0.00 -34,499.00
Depreciation of fixed assets, oil and gas assets and productive
23,008,366.00 21,766,397.00
biological assets
Amortization of intangible assets 34,517,372.00 4,219,742.00
Amortization of long-term deferred expense 700,065.00 1,008,887.00
Losses/gains on disposal of property, intangible asset and other
-7,795,416.00 0.00
long-term assets (gains: negative)
Losses/gains on scrapped of fixed assets (gains: negative) 824.00 0.00
Losses/gains from variation of fair value (gains: negative) 0.00 0.00
Financial cost (income: negative) -28,061,118.00 -552,914.00
Investment loss (gains: negative) -6,582,590.00 -1,624,989.00
Decrease in deferred tax assets (increase: negative) 0.00 0.00
Increase in deferred tax liabilities (decrease: negative) 0.00 0.00
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Decrease in inventory (increase: negative) -499,566.00 1,566,810.00
Decrease in accounts receivable from operating activities (increase:
281,224,092.00 -83,669,751.00
negative)
Increase in accounts payable from operating activities (decrease: -104,353,999.00 455,550,048.00
negative)
Others 0.00 0.00
Net cash flows generated from operating activities 220,192,619.00 292,166,544.00
2. Significant investing and financing activities without involvement
-- --
of cash receipts and payments
Debt converted into capital 0.00 0.00
Convertible company bonds due within 1 year 0.00 0.00
Financing leased fixed assets 0.00 0.00
3. Change of cash and cash equivalent: -- --
Closing balance of cash 13,340,123,956.00 1,429,882,481.00
Less: opening balance of cash 1,702,470,760.00 2,264,319,604.00
Plus: closing balance of cash equivalent 0.00 0.00
Less: opening balance of cash equivalents 0.00 0.00
The net increase in cash and cash equivalents 11,637,653,196.00 -834,437,123.00
XIV. Supplementary information
1 Items and amounts of extraordinary gains and losses
Unit: RMB Yuan
Item Amount Note
Gains/losses on the disposal of non-current assets (including the
-1,891,756.00 No
offset part of asset impairment provisions)
Tax rebates, reductions or exemptions due to approval beyond
0.00 No
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
513,933,311.00 No
certain quotas or amounts according to the country’s unified
standards
Capital occupation charges on non-financial enterprises that
0.00 No
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 No
enjoyable fair value of the identifiable net assets of the investees
when making the investments
Gain/loss on non-monetary asset swap 0.00 No
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2014 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Gain/loss on entrusting others with investments or asset
0.00 No
management
Asset impairment provisions due to acts of God such as natural
0.00 No
disasters
Gain/loss on debt restructuring 0.00 No
Expenses for business reorganization, such as expenses for
0.00 No
staffing, reorganization etc.
Gain/loss on the part over the fair value due to transactions with
0.00 No
distinctly unfair prices
Current gains and losses of subsidies acquired from business
combination under the same control as from period-begin to 0.00 No
combination date
Gain/loss on contingent events irrelevant to the Company’s normal
0.00 No
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 No
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 No
which impairment tests were carried out separately
Gain/loss on loans obtained by entrusting others 0.00 No
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 No
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 No
accounting and other relevant laws and regulations
Custody fee income when entrusted with operation 0.00 No
Other non-operating income and expenses other than the above 27,306,440.00 No
Other gain/loss items that meet the definition of an extraordinary
0.00 No
gain/loss
Less: Income tax effects 27,313,193.00 No
Minority interests effects (after tax) 20,688,306.00 No
Total 491,346,496.00 --
Government grants recognized in the current period was recurrent profit and loss item, shall specify disclosure reason item by item.
□ Applicable √ Inapplicable
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2. Return on equity and earnings per share
Unit: RMB Yuan
The weighted average ROE EPS
Profit in the reporting period
(%) Basic EPS Diluted EPS
Net profit attributable to the Company's
2.38% 0.050 0.050
common stock shareholders
Net profit attributable to shareholders of the
Company's common stock after deducting 1.26% 0.029 0.029
non-recurring gains and losses
3. Particulars on the abnormal conditions of main items in the financial statements of the Company and
relevant reasons
1. Monetary capital increased 118% compare to the same period last year, mainly because the increase of the loan of project
construction and operating cash revenue.
2. Accounts payable in advance increased 58% compare to the same period last year, mainly because of the increase of the purchase
amount provided by the supplier in advance.
3. Interest receivable increased 94%, mainly because the interest increase with the increase of monetary capital
4. Other current assets Increased 47% compare to the same period last year, mainly because the VAT in the forehead increased in the
reporting period.
5. Construction in process increased 44% compare to the same period last year, mainly because the combination scope increased and
part of the new project at the stage of construction, engineering construction and equipment procurement increased too.
6. Short-term borrowing decreased by 73%,% compare to the same period last year, primarily for the repayment of part of the
borrowing.
7. Notes payable increased by 188%, compare to the same period last year, partly caused by payment settlement in paper form.
8. Non-current liabilities due within one year decreased by 76% compare to the same period last year, primarily for the repayment of
part of the borrowing.
9. Share capital increased by 161%, compare to the same period last year, primarily for the Company issuing additional stocks.
10. Capital reserve increased by 151%, compare to the same period last year, primarily for the Company issuing additional stocks,
the price of stock was higher than the book value.
11. Business tax and surcharges decreased by 42% compare to the same period last year, primarily for the decrease of the export tax
rebates for free.
12. Financial expense decreased by 45% compare to the same period last year, primarily for the increase of monetary capital and
related interest income.
13. Investment income( Loss “-“) increased by 326%, compare to the same period last year, primarily for joint venture operating
conditions improved and participation in profit.
14. Non-operating income increased by 166%, compare to the same period last year, primarily for gaining the government subsidy.
15. Non-operating expense decreased by 87% compare to the same period last year, primarily for the loss of disposal of non-current
assets decreased.
16. Income tax increased by 570%, compare to the same period last year, primarily for the increase of enterprise income tax.
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Section IX. Documents Available for Reference
(1) Financial statements signed and sealed by legal representative, president of the company , principal of accounting work, and manager of finance department
(II) In the reporting period, all originals of the Company’s documents and public notices have been publicly disclosed in Securities Times, Ta Kung Pao and http://www,cninfo.com.cn.
All the above documents prepared and placed at the Office of Board of Directors.
212