Abstract of the Report for the First Quarter of 2015 of BOE Technology Group Co., Ltd.
Stock code: 200725 Stock abbreviation: BOE B Announcement No.: 2015-027
BOE TECHNOLOGY GROUP CO., LTD.
Abstract of the Report for the First Quarter of 2015
Section I. Important Reminders
The Board of Directors, the Supervisory Committee, directors, supervisors and senior management staff of BOE
Technology Group Co., Ltd. (hereinafter referred to as “the Company”) warrant that this report does not contain
any false record or misleading statement or omit any material fact and shall hereby accept, individually and
collectively, responsibility for the factuality, accuracy and completeness of the contents carried in this report.
Mr. Wang Dongsheng, Chairman of the Board, Mr. Chen Yanshun, President of the Company, Ms. Sun Yun, chief
of the accounting work, and Ms. Yang Xiaoping, chief of the accounting organ (chief of accounting), hereby
confirm that the Financial Report enclosed in this report is factual, accurate and complete.
All directors have attended the board session for reviewing this report.
This report is prepared in both Chinese and English. Should there be any understanding discrepancy between the
two versions, the Chinese version shall prevail.
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Abstract of the Report for the First Quarter of 2015 of BOE Technology Group Co., Ltd.
Section II. Financial Highlights & Change of Shareholders
I. Major accounting data and financial indexes
Does the Company adjust retrospectively or restate accounting data of previous years due to change of the accounting policy or
correction of any accounting error?
□ Yes √ No
Jan.- Mar. 2015 Jan.- Mar. 2014 +/- (%)
Operating revenues (RMB Yuan) 11,582,854,379.00 8,091,679,315.00 43.15%
Net profit attributable to shareholders of the Company
978,140,971.00 587,651,989.00 66.45%
(RMB Yuan)
Net profit attributable to shareholders of the Company
880,748,144.00 242,830,402.00 262.70%
after extraordinary gains and losses (RMB Yuan)
Net cash flows from operating activities (RMB Yuan) 2,302,553,649.00 1,680,084,933.00 37.05%
Basic EPS (RMB Yuan/share) 0.028 0.043 -34.88%
Diluted EPS (RMB Yuan/share) 0.028 0.043 -34.88%
Weighted average ROE (%) 1.27% 1.15% 0.12%
31 Mar. 2015 31 Dec. 2014 +/- (%)
Total assets (RMB Yuan) 136,648,954,978.00 136,240,283,477.00 0.30%
Net assets attributable to shareholders of the Company
77,108,963,441.00 76,155,071,579.00 1.25%
(RMB Yuan)
Note: The basic EPS for the same period of last year was based on the total shares of 13,521,542,341 in number. On 8 Apr. 2014, the
total shares of the Company increased to 35,289,637,574 shares upon a private offering. Up to 31 Mar. 2015, the Company has
bought back 136,569,831 shares. The basic EPS for the reporting period is weighted as such.
Items and amounts of extraordinary gains and losses
√ Applicable □ Inapplicable
Unit: RMB Yuan
Item Jan.-Mar. 2015 Note
Gains/losses on the disposal of non-current assets (including the offset part of asset impairment
-5,946,463.00 Naught
provisions)
Tax rebates, reductions or exemptions due to approval beyond authority or the lack of official
0.00 Naught
approval documents
Government grants recognized in the current period, except for those acquired in the ordinary
course of business or granted at certain quotas or amounts according to the country’s unified 108,155,724.00 Naught
standards
Capital occupation charges on non-financial enterprises that recorded into current gains and
0.00 Naught
losses
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Abstract of the Report for the First Quarter of 2015 of BOE Technology Group Co., Ltd.
Gains due to that the investment costs for the Company to obtain subsidiaries, associates and
joint ventures are lower than the enjoyable fair value of the identifiable net assets of the 0.00 Naught
investees when making the investments
Gain/loss on non-monetary asset swap 0.00 Naught
Gain/loss on entrusting others with investments or asset management 0.00 Naught
Asset impairment provisions due to acts of God such as natural disasters 0.00 Naught
Gain/loss on debt restructuring 0.00 Naught
Expenses for business reorganization, such as expenses for staffing, reorganization etc. 0.00 Naught
Gain/loss on the part over the fair value due to transactions with distinctly unfair prices 0.00 Naught
Current gains and losses of subsidies acquired from business combination under the same
0.00 Naught
control as from period-begin to combination date
Gain/loss on contingent events irrelevant to the Company’s normal business 0.00 Naught
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 Naught
financial liabilities and financial assets available for sales except for effective hedging related
with normal businesses of the Company
Reversal of provision for impairment that made impairment test independently 0.00 Naught
Gain/loss on loans obtained by entrusting others 0.00 Naught
Gain/loss on change of the fair value of investing real estate of which the subsequent
0.00 Naught
measurement is carried out adopting the fair value method
Effect on current gains/losses when a one-off adjustment is made to current gains/losses
0.00 Naught
according to requirements of taxation, accounting and other relevant laws and regulations
Custody fee income when entrusted with operation 0.00 Naught
Other non-operation income and expenses other than the above 0.00 Naught
Other gain/loss items that meet the definition of an extraordinary gain/loss 7,679,752.00 Naught
Less: Income tax effects 12,034,049.00 Naught
Minority interests effects (after tax) 462,137.00 Naught
Total 97,392,827.00 --
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 in the reporting period.
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Abstract of the Report for the First Quarter of 2015 of BOE Technology Group Co., Ltd.
II. Total number of shareholders at the period-end and shares held by the top ten shareholders
1. Total number of common shareholders at the period-end and shares held by the top ten common shareholders
Unit: Share
Total number of common shareholders at the
601,471 (shareholders, including 565,030 A-share holders and 36,411 B-share holders)
period-end
Shares held by the top ten common shareholders
Shareholding Number of the Number of the Pledged or frozen shares
Name of shareholder Nature of shareholder
percentage (%) shares held restricted shares held Status of shares Number of shares
Beijing State-owned Capital Operation and Management Center State-owned Corporation 11.51% 4,063,333,333 4,063,333,333
Chongqing Ezcapital Opto-electronics Industry Investment Co.,
State-owned Corporation 8.50% 3,000,000,000 3,000,000,000 Pledged 1,414,150,000
Ltd.
Hefei Jianxiang Investment Co., Ltd. State-owned Corporation 8.10% 2,857,142,857 2,857,142,857
Minsheng Royal Fund-CMBC-Ping’an Trust-Ping’an
Other 6.75% 2,380,952,380 2,380,952,380
Finance-Assembled Funds Trust Plan of Huitai No. 66
Hua An Fund-HXB-Ping’an Trust-Ping’an Finance * Assembled
Other 6.75% 2,380,952,380 2,380,952,380
Funds Trust Plan of Huitai No. 72
Hua An Fund-ICBC-Zhongrong International
Other 5.40% 1,904,761,904 1,904,761,904
Trust-Zhongrong-Assembled Funds Trust Plan of Rongjing No. 1
Ping’an Dahua Fund-Ping’an Bank-Asset Management Plan of
Other 4.05% 1,428,571,428 1,428,571,428
Ping’an Dahua Ping’an Jincheng Wealth No. 31
Ping'an Dahua Fund- Ping’an Bank-Asset Management Plan of
Other 4.05% 1,428,571,428 1,428,571,428
Ping’an Dahua Ping’an Jincheng Wealth No. 34
Domestic non-state-owned
Shenzhen Ping’an Innovation Capital Investment Co., Ltd. 3.37% 1,190,476,190 1,190,476,190
corporation
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Abstract of the Report for the First Quarter of 2015 of BOE Technology Group Co., Ltd.
Beijing BOE Investment & Development Co., Ltd. State-owned Corporation 2.44% 860,981,080 0
Shares held by the top ten non-restricted common share holders
Type of shares
Name of shareholder Number of non-restricted common shares held
Type Number
Beijing BOE Investment & Development Co., Ltd. 860,981,080 RMB ordinary shares 860,981,080
Beijing Economic-Technological Investment &
677,423,641 RMB ordinary shares 677,423,641
Development Corp.
Beijing BDA Technological Investment Development
574,000,000 RMB ordinary shares 574,000,000
Co., Ltd.
Beijing Electronics Holdings Co., Ltd. 275,303,883 RMB ordinary shares 275,303,883
Hefei Xincheng State-Owned Assets Management Co.,
274,848,276 RMB ordinary shares 274,848,276
Ltd.
Sinotrans Air Transportation
81,800,000 RMB ordinary shares 81,800,000
Development Co., Ltd.
Zhang Dingqiang 71,453,798 RMB ordinary shares 71,453,798
CSOP Asset Management- CSOP FTSE China A50ETF 48,874,400 RMB ordinary shares 48,874,400
ICBC—Rongtong Shenzheng 100 Index Securities
45,495,047 RMB ordinary shares 45,495,047
Investment Fund
Bank of China Limited-Harvest Shanghai and Shen
zhen 300 Exchange-traded Securities Investment Fu 43,159,525 RMB ordinary shares 43,159,525
nd
1. When the Company completed private offering of shares in 2014, Beijing State-owned Capital Operation and Management Center
Explanation on associated relationship or persons transferred the 70% shares directly held to Beijing Electronic Shareholding Co., Ltd. for managing through Shares Management
acting in concert among the above-mentioned Protocol, and Beijing Electronic Shareholding Co., Ltd. acquired the shareholders rights except for the disposition rights and equity
shareholders rights attached to the equities; Beijing State-owned Capital Operation and Management Center maintained its voting rights of the rest
30% equity directly held by itself in accordance with Beijing Electronic Shareholding Co., Ltd. through the agreement of the Voting
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Abstract of the Report for the First Quarter of 2015 of BOE Technology Group Co., Ltd.
Rights Exercising Agreement;
2. BEIJING ECONOMIC-TECHNOLOGICAL INVESTMENT & DEVELOPMENT CORP. holds 49% shares of BEIJING BDA
TECHNOLOGICAL INVESTMENT DEVELOPMENT CO., LTD. Both of them are under the control of the Administration Committee
of Beijing Economic and Technological Development Zone, which makes them parties acting in concert.
3. When the Company completed private offering of shares in 2014, Hefei Jianxiang Investment Co., Ltd. and Chongqing Ezcapital
Opto-electronics Industry Investment Co., Ltd. maintained unanimous with the declaration of intention of Beijing BOE Investment &
Development Co., Ltd. when executing the voting rights of the whole shares held by the shareholders of the Company through the
agreement on the Voting Rights Exercising Agreement.
4. Except for relationship among the above shareholders, the Company is not aware of whether the other top ten shareholders exist
associated relationship or not, or they are persons acting in concert or not.
Top 10 common shareholders taking part in securities Shareholder Zhang Dingqiang holds 71,453,798 shares in the Company through a client account of collateral securities for margin
margin trading (if any) trading in Founder Securities Co., Ltd.
Did any of the Company’s top 10 common shareholders or top 10 non-restricted common shareholders conduct any buy-back upon agreement in the reporting period?
□ Yes √ No
No such cases in the reporting period.
2. Total number of preferred shareholders at the period-end and shares held by the top ten preferred shareholders
□ Applicable √ Inapplicable
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Abstract of the Report for the First Quarter of 2015 of BOE Technology Group Co., Ltd.
Section III. Significant Events
I. Significant changes of the major accounting statement items and financial indicators for the
reporting period, as well as the reasons for these changes
√ Applicable □ Inapplicable
1. Operating revenues increased 43% year on year mainly because new production lines went into mass production.
1. Operating revenues increased 43% year on year mainly because new production lines went into mass production.
2. Operating costs increased 34% year on year mainly because new production lines went into mass production.
3. Administrative expenses increased 45% year on year because the consolidation scope enlarged and the effort in R&D was
enhanced.
4. Asset impairment loss increased 160% year on year mainly because falling price provisions were made for inventories at the lower
between their costs and net realizable value.
5. Investment gains increased 2183% year on year mainly because of the gains on the new wealth management products.
6. Non-operating incomes decreased 72% year on year mainly because governmental subsidies were received in the same period of
last year.
7. Income tax expenses increased 258% year on year mainly because our main business continuously generated profits.
8. Prepayments decreased 58% from the opening amount mainly because prepayments to suppliers decreased.
9. Notes payable increased 111% from the opening amount mainly because some deals were settled using notes.
10 Interest payable decreased 69% from the opening amount mainly because borrowing interest was paid.
11. Non-current liabilities due within one year increased 5034% from the opening amount mainly because some long-term
borrowings became due within one year.
12、Net cash inflows from operating activities increased 37% year on year mainly because new production lines went into mass
production.
13. Net cash outflows from investing activities increased 67% year on year mainly because the expenses on engineering and
equipment procurement increased for construction of new projects.
14. Net cash inflows from financing activities decreased 102% year on year mainly because the financing cash inflows increased in
the same period of last year from the additional issue.
II. Progress of significant events and analysis & explanations on their influence and solutions
√ Applicable □ Inapplicable
Date of Website index to the disclosed
Overview of the significant event
disclosure relevant interim report
The controlling shareholder of the Company changed from Beijing BOE
Investment & Development Co., Ltd. to Beijing Electronics Holdings Co., Ltd., 12 Mar. 2015 http://www.cninfo.com.cn/
and the actual controller remained Beijing Electronics Holdings Co., Ltd.
The Company had accumulatively repurchased B share of 136,569,831 shares
2 April.2015 http://www.cninfo.com.cn/
up to 31 Mar. 2015
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Abstract of the Report for the First Quarter of 2015 of BOE Technology Group Co., Ltd.
III. Commitments made by the Company or shareholders holding over 5% of the Company’s
shares in the reporting period or such commitments carried down into the reporting period
√ Applicable □ Inapplicable
Commitment Date of making Period of
Commitment Contents Fulfillment
maker commitment commitment
Commitments of share reform
Commitments made in acquisition report
or in report on changes of equity
Commitments made in asset
reorganization
Beijing
Committed that
State-owned
the shares
Capital
acquired from
Operation and
purchasing
Management
would not be
Center, Hefei
transferred from
Jianxiang 8 Apr. 2014 36 months In execution
the first date of
Investment Co.,
issuing the
Ltd., Chongqing
newly increased
Capital
shares of the
Photoelectricity
issuer within 36
Investment Co.,
months
Commitments made in IPO or refinancing. Ltd.
Committed that
HuaAn Funds the shares
Management acquired from
Co., Ltd. purchasing
Minsheng Royal would not be
Fund transferred from
8 Apr. 2014 12 months In execution
Management the first date of
Co., Ltd., Ping issuing the
An Uob Fund newly increased
Management shares of the
Co., Ltd. issuer within 12
months
Other commitments made to the
Company’s minority shareholders
Executed in time or not? Yes
Detailed reason for failing to execute and
Inapplicable
the plan for the next step (If any)
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Abstract of the Report for the First Quarter of 2015 of BOE Technology Group Co., Ltd.
IV. Predict the operating results for Jan.-Jun. 2015
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
V. Securities investment
□ Applicable √ Inapplicable
No such cases in the reporting period.
VI. Shareholdings in other listed companies
√Applicable □Inapplicable
Gain/loss Changes in the
Percentage of
Initial Closing book for report equity of the
Code of Name of the Source of
investment cost value (RMB period owners in the Accounting title
securities securities Company’s stock
(RMB Yuan) Yuan) (RMB reporting period
equity (%)
Yuan) (RMB Yuan)
TPV Financial assets
HK00903 134,658,158 1.04% 34,153,402 0 1,867,574 Subscribe
Technology available-for-sale
Electronic Financial assets Stock-for-s
SH600658 90,160,428 1.69% 159,370,371 0 44,285,913
City available-for-sale tock
Bank of Financial assets
HK01963 120,084,375 0.93% 127,722,928 0 8,668,207 Subscribe
Chongqing available-for-sale
Total 344,902,961 -- 321,246,701 0 54,821,694 -- --
VII. Investments in derivatives
□ Applicable √ Inapplicable
No such cases in the reporting period.
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Abstract of the Report for the First Quarter of 2015 of BOE Technology Group Co., Ltd.
VIII. Researches, visits and interviews received in the reporting period
√Applicable □Inapplicable
Main discussion and materials provided
Time of reception Place of reception Way of reception Visitor type Visitor
by the Company
2015/01/14 The Company’s Conference Room Field research Institution Orient Securities Co., Ltd.
Main discussion:
2015/01/23 Teleconference By phone Institution Barclays Bank
1. The operating situation, the future
2015/01/23 The Company’s Conference Room Field research Institution and Individual CICC, individual investors
development strategy of the Company;
2015/02/04 Teleconference By phone Institution Highbridge Capital Management LLC 2. Industry conditions and development
Essence Securities Co., Ltd., China Life trend;
Asset Management Co., Ltd., China Post & 3. Situation of the several production
2015/02/05 The Company’s Conference Room Field research Institution Capital Fund Management Co., Ltd., lines of the Company;
Shangahi Zexi Investment Management Materials provided by the Company:
Co., Ltd. the 2013 Annual Report of the Company,
2015/02/12 Teleconference By phone Institution Coatue Management the 2014 Semi-annual Report, the Report
for the Third Quarter of 2014, the
2015/03/05 Beijing 8.5G Line Field research Individual Individual investor
company brochure and other public
2015/03/09 The Company’s Conference Room Field research Institution Oppenheimer
information.
Daiwa Securities, Sumitomo Mitsui Asset
2015/03/19 The Company’s Conference Room Field research Institution
Management Company, Limited
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Abstract of the Report for the First Quarter of 2015 of BOE Technology Group Co., Ltd.
Chairman of the Board: Mr. Wang Dongsheng (signature)
Date of the Board of Directors approving to report: 22 Apr 2015
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