Report for the First Quarter of 2015
April 2015
Report for the First Quarter of 2015 of BOE Technology Group Co., Ltd.
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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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
978,140,971.00 587,651,989.00 66.45%
the Company (RMB Yuan)
Net profit attributable to shareholders of
the Company after extraordinary gains and 880,748,144.00 242,830,402.00 262.70%
losses (RMB Yuan)
Net cash flows from operating activities
2,302,553,649.00 1,680,084,933.00 37.05%
(RMB Yuan)
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
77,108,963,441.00 76,155,071,579.00 1.25%
the Company (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
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Report for the First Quarter of 2015 of BOE Technology Group Co., Ltd.
losses
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.
II. Total number of shareholders at the period-end and shares held by the top ten
shareholders
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Report for the First Quarter of 2015 of BOE Technology Group Co., Ltd.
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 shares Number of the restricted Pledged or frozen shares
Name of shareholder Nature of shareholder
percentage (%) held shares held Status of shares Number of shares
Beijing State-owned Capital Operation and
State-owned Corporation 11.51% 4,063,333,333 4,063,333,333
Management Center
Chongqing Ezcapital Opto-electronics Industry
State-owned Corporation 8.50% 3,000,000,000 3,000,000,000 Pledged 1,414,150,000
Investment Co., 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 Finance-Assembled Funds Trust Plan Other 6.75% 2,380,952,380 2,380,952,380
of Huitai No. 66
Hua An Fund-HXB-Ping’an Trust-Ping’an Finance
Other 6.75% 2,380,952,380 2,380,952,380
* Assembled Funds Trust Plan of Huitai No. 72
Hua An Fund-ICBC-Zhongrong International
Trust-Zhongrong-Assembled Funds Trust Plan of Other 5.40% 1,904,761,904 1,904,761,904
Rongjing No. 1
Ping’an Dahua Fund-Ping’an Bank-Asset
Management Plan of Ping’an Dahua Ping’an Other 4.05% 1,428,571,428 1,428,571,428
Jincheng Wealth No. 31
Ping'an Dahua Fund- Ping’an Bank-Asset
Management Plan of Ping’an Dahua Ping’an Other 4.05% 1,428,571,428 1,428,571,428
Jincheng Wealth No. 34
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Report for the First Quarter of 2015 of BOE Technology Group Co., Ltd.
Shenzhen Ping’an Innovation Capital Investment Domestic non-state-owned
3.37% 1,190,476,190 1,190,476,190
Co., Ltd. corporation
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
Explanation on associated relationship or persons 1. When the Company completed private offering of shares in 2014, Beijing State-owned Capital Operation and Management Center
acting in concert among the above-mentioned transferred the 70% shares directly held to Beijing Electronic Shareholding Co., Ltd. for managing through Shares Management
shareholders Protocol, and Beijing Electronic Shareholding Co., Ltd. acquired the shareholders rights except for the disposition rights and equity
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Report for the First Quarter of 2015 of BOE Technology Group Co., Ltd.
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
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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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.
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
Website index to the disclosed
Overview of the significant event Date of disclosure
relevant interim report
The controlling shareholder of the Company changed from Beijing
BOE Investment & Development Co., Ltd. to Beijing Electronics
12 Mar. 2015 http://www.cninfo.com.cn/
Holdings Co., Ltd., and the actual controller remained Beijing
Electronics Holdings Co., Ltd.
The Company had accumulatively repurchased B share of
2 April.2015 http://www.cninfo.com.cn/
136,569,831 shares up to 31 Mar. 2015
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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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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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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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Report for the First Quarter of 2015 of BOE Technology Group Co., Ltd.
Section IV. Financial Statements
I. Financial statements
1. Consolidated balance sheet
Prepared by BOE Technology Group Co., Ltd.
Unit: RMB Yuan
Item Closing balance Opening balance
Current Assets:
Monetary funds 36,572,785,233.00 40,172,401,999.00
Settlement reserves 0.00 0.00
Intra-group lendings 0.00 0.00
Financial assets measured at fair value of which changes are recorded in
0.00 0.00
current profits and losses
Derivative financial assets 0.00 0.00
Notes receivable 356,189,850.00 501,172,383.00
Accounts receivable 7,596,364,487.00 6,615,762,122.00
Accounts paid in advance 62,745,936.00 150,734,013.00
Premiums receivable 0.00 0.00
Reinsurance premiums receivable 0.00 0.00
Receivable reinsurance contract reserves 0.00 0.00
Interest receivable 289,509,584.00 275,877,747.00
Dividend receivable 0.00 0.00
Other accounts receivable 596,358,914.00 720,716,550.00
Financial assets purchased under agreements to resell 0.00 0.00
Inventories 5,036,243,739.00 4,163,304,029.00
Assets held for sale 0.00 0.00
Non-current assets due within 1 year 0.00 0.00
Other current assets 6,187,724,760.00 6,085,764,454.00
Total current assets 56,697,922,503.00 58,685,733,297.00
Non-current assets:
Loans by mandate and advances granted 0.00 0.00
Available-for-sale financial assets 386,002,813.00 323,530,493.00
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Report for the First Quarter of 2015 of BOE Technology Group Co., Ltd.
Held-to-maturity investments 0.00 0.00
Long-term accounts receivable 0.00 0.00
Long-term equity investment 641,755,139.00 638,819,435.00
Investing real estate 1,247,311,859.00 1,251,820,763.00
Fixed assets 49,698,254,777.00 49,398,396,189.00
Construction in progress 24,007,282,897.00 21,868,641,210.00
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 2,101,548,672.00 2,158,510,516.00
R&D expense 0.00 0.00
Goodwill 51,502,898.00 51,502,898.00
Long-term deferred expenses 314,890,060.00 303,984,682.00
Deferred income tax assets 132,124,897.00 138,779,625.00
Other non-current assets 1,370,358,463.00 1,420,564,369.00
Total of non-current assets 79,951,032,475.00 77,554,550,180.00
Total assets 136,648,954,978.00 136,240,283,477.00
Current liabilities:
Short-term borrowings 1,527,493,068.00 2,158,988,600.00
Borrowings from Central Bank 0.00 0.00
Customer bank deposits and due to banks and other financial institutions 0.00 0.00
Intra-group borrowings 0.00 0.00
Financial liabilities measured at fair value of which changes are recorded
0.00 0.00
in current profits and losses
Derivative financial liabilities 0.00 0.00
Notes payable 544,726,413.00 258,737,884.00
Accounts payable 7,432,906,582.00 6,691,237,683.00
Accounts received in advance 759,799,232.00 314,712,632.00
Financial assets sold for repurchase 0.00 0.00
Handling charges and commissions payable 0.00 0.00
Payroll payable 814,584,439.00 1,151,622,921.00
Tax payable 306,624,738.00 318,219,650.00
Interest payable 67,141,328.00 219,407,964.00
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Report for the First Quarter of 2015 of BOE Technology Group Co., Ltd.
Dividend payable 9,651,170.00 8,051,170.00
Other accounts payable 6,027,105,529.00 7,550,386,025.00
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
Liabilities held for sale 0.00 0.00
Non-current liabilities due within 1 year 770,110,708.00 15,000,000.00
Other current liabilities 365,940,621.00 290,588,570.00
Total current liabilities 18,626,083,828.00 18,976,953,099.00
Non-current liabilities:
Long-term borrowings 33,580,546,293.00 33,631,104,669.00
Bonds payable 0.00 0.00
Of which: preferred shares 0.00 0.00
Perpetual bonds 0.00 0.00
Long-term payables 0.00 0.00
Long-term payroll payables 0.00 0.00
Specific payables 0.00 0.00
Estimated liabilities 16,457,010.00 16,457,010.00
Deferred income 2,516,556,163.00 2,441,846,447.00
Deferred income tax liabilities 355,680,030.00 347,949,970.00
Other non-current liabilities 3,643,625,779.00 3,866,566,063.00
Total non-current liabilities 40,112,865,275.00 40,303,924,159.00
Total liabilities 58,738,949,103.00 59,280,877,258.00
Owners’ equity:
Share capital 35,289,637,574.00 35,289,637,574.00
Other equity instruments 0.00 0.00
Of which: preferred shares 0.00 0.00
Perpetual bonds 0.00 0.00
Capital reserves 39,084,913,744.00 39,084,393,441.00
Less: Treasury stock 277,055,776.00 198,004,581.00
Other comprehensive income 94,912,394.00 40,630,611.00
Specific reserves 0.00 0.00
Surplus reserves 503,668,861.00 503,668,861.00
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Report for the First Quarter of 2015 of BOE Technology Group Co., Ltd.
Provisions for general risks 0.00 0.00
Retained profits 2,412,886,644.00 1,434,745,673.00
Total equity attributable to owners of the Company 77,108,963,441.00 76,155,071,579.00
Minority interests 801,042,434.00 804,334,640.00
Total owners’ equity 77,910,005,875.00 76,959,406,219.00
Total liabilities and owners’ equity 136,648,954,978.00 136,240,283,477.00
Legal representative: Wang Dongsheng Person-in-charge of the accounting work: Sun Yun
Chief of the accounting division: Yang Xiaoping
2. Balance sheet of the Company
Unit: RMB Yuan
Item Closing balance Opening balance
Current Assets:
Monetary funds 2,319,558,789.00 8,801,283,810.00
Financial assets measured at fair value of which changes are recorded in
0.00 0.00
current profits and losses
Derivative financial assets 0.00 0.00
Notes receivable 1,042,517.00 5,318,912.00
Accounts receivable 77,906,210.00 59,490,497.00
Accounts paid in advance 12,196,602.00 3,995,544.00
Interest receivable 153,546,952.00 131,061,842.00
Dividend receivable 90,941,079.00 88,741,079.00
Other accounts receivable 1,132,318,021.00 1,050,896,232.00
Inventories 4,533,788.00 5,055,934.00
Assets held for sale 0.00 0.00
Non-current assets due within 1 year 0.00 0.00
Other current assets 100,361,794.00 97,212,285.00
Total current assets 3,892,405,752.00 10,243,056,135.00
Non-current assets:
Available-for-sale financial assets 212,211,805.00 166,058,318.00
Held-to-maturity investments 0.00 0.00
Long-term accounts receivable 0.00 0.00
Long-term equity investment 73,980,352,850.00 67,577,417,145.00
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Report for the First Quarter of 2015 of BOE Technology Group Co., Ltd.
Investing real estate 173,611,262.00 174,907,073.00
Fixed assets 360,860,108.00 360,386,719.00
Construction in progress 494,848,830.00 439,161,911.00
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 472,275,078.00 498,655,457.00
R&D expense 0.00 0.00
Goodwill 0.00 0.00
Long-term deferred expenses 107,404,125.00 107,514,008.00
Deferred income tax assets 0.00 0.00
Other non-current assets 8,151,897.00 12,851,569.00
Total of non-current assets 75,809,715,955.00 69,336,952,200.00
Total assets 79,702,121,707.00 79,580,008,335.00
Current liabilities:
Short-term borrowings 0.00 0.00
Financial liabilities measured at fair value of which changes are recorded
0.00 0.00
in current profits and losses
Derivative financial liabilities 0.00 0.00
Notes payable 0.00 0.00
Accounts payable 35,667,286.00 23,725,287.00
Accounts received in advance 26,687,852.00 6,255,398.00
Payroll payable 73,420,262.00 144,350,801.00
Tax payable 10,519,139.00 32,443,336.00
Interest payable 6,750,250.00 217,750.00
Dividend payable 6,451,171.00 6,451,170.00
Other accounts payable 4,733,807,407.00 4,678,071,031.00
Liabilities held for sale 0.00 0.00
Non-current liabilities due within 1 year 0.00 0.00
Other current liabilities 0.00 0.00
Total current liabilities 4,893,303,367.00 4,891,514,773.00
Non-current liabilities:
Long-term borrowings 670,000,000.00 670,000,000.00
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Report for the First Quarter of 2015 of BOE Technology Group Co., Ltd.
Bonds payable 0.00 0.00
Of which: preferred shares 0.00 0.00
Perpetual bonds 0.00 0.00
Long-term payables 0.00 0.00
Long-term payroll payables 0.00 0.00
Specific payables 0.00 0.00
Estimated liabilities 0.00 0.00
Deferred income 239,029,920.00 90,395,075.00
Deferred income tax liabilities 0.00 0.00
Other non-current liabilities 0.00 0.00
Total non-current liabilities 909,029,920.00 760,395,075.00
Total liabilities 5,802,333,287.00 5,651,909,848.00
Owners’ equity:
Share capital 35,289,637,574.00 35,289,637,574.00
Other equity instruments 0.00 0.00
Of which: preferred shares 0.00 0.00
Perpetual bonds 0.00 0.00
Capital reserves 38,218,959,047.00 38,218,959,047.00
Less: Treasury stock 277,055,776.00 198,004,581.00
Other comprehensive income 118,804,842.00 72,651,355.00
Specific reserves 0.00 0.00
Surplus reserves 503,668,861.00 503,668,861.00
Retained profits 45,773,872.00 41,186,231.00
Total owners’ equity 73,899,788,420.00 73,928,098,487.00
Total liabilities and owners’ equity 79,702,121,707.00 79,580,008,335.00
3. Consolidated income statement
Unit: RMB Yuan
Item Jan.-Mar. 2015 Jan.-Mar. 2014
I. Total operating revenues 11,582,854,379.00 8,091,679,315.00
Including: Sales income 11,582,854,379.00 8,091,679,315.00
Interest income 0.00 0.00
Premium income 0.00 0.00
Handling charge and commission income 0.00 0.00
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Report for the First Quarter of 2015 of BOE Technology Group Co., Ltd.
II. Total operating costs 10,515,842,490.00 7,763,093,362.00
Including: Cost of sales 8,699,864,739.00 6,483,118,788.00
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 reserve 0.00 0.00
Expenditure on policy dividends 0.00 0.00
Reinsurance premium 0.00 0.00
Taxes and associate charges 37,064,077.00 11,732,346.00
Selling and distribution expenses 292,575,878.00 236,028,598.00
Administrative expenses 1,125,646,463.00 774,557,649.00
Financial expenses 171,609,882.00 184,859,104.00
Asset impairment loss 189,081,451.00 72,796,877.00
Add: Gain/(loss) from change in fair value (“-” means loss) 0.00 0.00
Gain/(loss) from investment (“-” means loss) 31,384,877.00 1,374,620.00
Including: share of profits in associates and joint ventures 2,935,706.00 1,374,620.00
Foreign exchange gains (“-” means loss) 0.00 0.00
III. Business profit (“-” means loss) 1,098,396,766.00 329,960,573.00
Add: non-operating income 117,948,521.00 427,416,825.00
Including: Gains on disposal of non-current assets 3,369,650.00 600,789.00
Less: non-operating expense 8,158,910.00 3,207,936.00
Including: Losses on disposal of non-current assets 6,388,118.00 1,888,224.00
IV. Total profit (“-” means loss) 1,208,186,377.00 754,169,462.00
Less: Income tax expense 230,942,461.00 64,483,087.00
V. Net profit (“-” means loss) 977,243,916.00 689,686,375.00
Net profit attributable to owners of the Company 978,140,971.00 587,651,989.00
Minority shareholders’ income -897,055.00 102,034,386.00
VI. After-tax net amount of other comprehensive incomes 54,206,935.00 -31,101,945.00
After-tax net amount of other comprehensive incomes attributable to
54,281,783.00 -31,101,945.00
owners of the Company
(I) Other comprehensive incomes that will not be reclassified into
0.00 0.00
gains and losses
1. Changes in net liabilities or assets with a defined benefit plan
0.00 0.00
upon re-measurement
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Report for the First Quarter of 2015 of BOE Technology Group Co., Ltd.
2. Enjoyable shares in other comprehensive incomes in investees
0.00 0.00
that cannot be reclassified into gains and losses under the equity method
(II) Other comprehensive incomes that will be reclassified into gains
54,281,783.00 -31,101,945.00
and losses
1. Enjoyable shares in other comprehensive incomes in investees
0.00 0.00
that will be reclassified into gains and losses under the equity method
2. Gains and losses on fair value changes of available-for-sale
55,892,270.00 -31,161,493.00
financial assets
3. Gains and losses on reclassifying held-to-maturity investments
0.00 0.00
into available-for-sale financial assets
4. Effective hedging gains and losses on cash flows 0.00 0.00
5. Foreign-currency financial statement translation difference -1,610,487.00 59,548.00
6. Other 0.00 0.00
After-tax net amount of other comprehensive incomes attributable to
-74,848.00 0.00
minority shareholders
VII. Total comprehensive incomes 1,031,450,851.00 658,584,430.00
Attributable to owners of the Company 1,032,422,754.00 556,550,044.00
Attributable to minority shareholders -971,903.00 102,034,386.00
VIII. Earnings per share
(I) Basic earnings per share 0.028 0.043
(II) Diluted earnings per share 0.028 0.043
Where business mergers under the same control occurred in this reporting period, the net profit achieved by the merged parties before
the business mergers was RMB XXX, with the corresponding amount for the same period of last year being RMB XXX.
Legal representative: Wang Dongsheng Person-in-charge of the accounting work: Sun Yun
Chief of the accounting division: Yang Xiaoping
4. Income statement of the Company
Unit: RMB Yuan
Item Jan.-Mar. 2015 Jan.-Mar. 2014
I. Total sales 201,159,171.00 92,668,217.00
Less: cost of sales 35,344,186.00 33,509,018.00
Business taxes and surcharges 3,091,601.00 1,367,836.00
Distribution expenses 842,344.00 650,962.00
Administrative expenses 221,718,364.00 149,560,940.00
Financial costs -55,188,853.00 76,150,896.00
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Report for the First Quarter of 2015 of BOE Technology Group Co., Ltd.
Impairment loss 0.00 0.00
Add: gain/(loss) from change in fair value (“-” means loss) 0.00 0.00
Gain/(loss) from investment (“-” means loss) 5,135,706.00 1,374,620.00
Including: income form investment on associates and joint ventures 2,935,706.00 1,374,620.00
II. Business profit (“-” means loss) 487,235.00 -167,196,815.00
Add: non-operating income 4,152,071.00 3,309,122.00
Including: Gains on disposal of non-current assets 24,000.00 2,100.00
Less: non-operating expense 51,665.00 39,129.00
Including: Losses on disposal of non-current assets 1,555.00 0.00
III. Total profit (“-” means loss) 4,587,641.00 -163,926,822.00
Less: Income tax expense 0.00 0.00
IV. Net profit (“-” means loss) 4,587,641.00 -163,926,822.00
V. After-tax net amount of other comprehensive incomes 46,153,487.00 -20,151,750.00
(I) Other comprehensive incomes that will not be reclassified into gains
0.00 0.00
and losses
1. Changes in net liabilities or assets with a defined benefit plan upon
0.00 0.00
re-measurement
2. Enjoyable shares in other comprehensive incomes in investees that
0.00 0.00
cannot be reclassified into gains and losses under the equity method
(II) Other comprehensive incomes that will be reclassified into gains and
46,153,487.00 -20,151,750.00
losses
1. Enjoyable shares in other comprehensive incomes in investees that
0.00 0.00
will be reclassified into gains and losses under the equity method
2. Gains and losses on fair value changes of available-for-sale financial
46,153,487.00 -20,151,750.00
assets
3. Gains and losses on reclassifying held-to-maturity investments into
0.00 0.00
available-for-sale financial assets
4. Effective hedging gains and losses on cash flows 0.00 0.00
5. Foreign-currency financial statement translation difference 0.00 0.00
6. Other 0.00 0.00
VI. Total comprehensive incomes 50,741,128.00 -184,078,572.00
VII. Earnings per share
(I) Basic earnings per share 0.0001 -0.012
(II) Diluted earnings per share 0.0001 -0.012
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Report for the First Quarter of 2015 of BOE Technology Group Co., Ltd.
5. Consolidated cash flow statement
Unit: RMB Yuan
Item Jan.-Mar. 2015 Jan.-Mar. 2014
I. Cash flows from operating activities:
Cash received from sale of commodities and rendering of service 11,797,439,308.00 9,220,709,287.00
Net increase of deposits from customers and dues from banks 0.00 0.00
Net increase of loans from the central bank 0.00 0.00
Net increase of funds borrowed from other financial institutions 0.00 0.00
Cash received from premium of original insurance contracts 0.00 0.00
Net cash received from reinsurance business 0.00 0.00
Net increase of deposits of policy holders and investment fund 0.00 0.00
Net increase of disposal of financial assets measured at fair value of which
0.00 0.00
changes are recorded into current gains and losses
Cash received from interest, handling charges and commissions 0.00 0.00
Net increase of intra-group borrowings 0.00 0.00
Net increase of funds in repurchase business 0.00 0.00
Tax refunds received 809,203,320.00 466,644,640.00
Other cash received relating to operating activities 317,948,130.00 623,329,006.00
Subtotal of cash inflows from operating activities 12,924,590,758.00 10,310,682,933.00
Cash paid for goods and services 6,950,991,322.00 6,935,866,360.00
Net increase of customer lendings and advances 0.00 0.00
Net increase of funds deposited in the central bank and amount due from
0.00 0.00
banks
Cash for paying claims of the original insurance contracts 0.00 0.00
Cash for paying interest, handling charges and commissions 0.00 0.00
Cash for paying policy dividends 0.00 0.00
Cash paid to and for employees 1,632,621,593.00 1,085,869,294.00
Various taxes paid 370,696,004.00 255,430,063.00
Other cash payment relating to operating activities 1,667,728,190.00 353,432,283.00
Subtotal of cash outflows from operating activities 10,622,037,109.00 8,630,598,000.00
Net cash flows from operating activities 2,302,553,649.00 1,680,084,933.00
II. Cash flows from investing activities:
Cash received from withdrawal of investments 1,963,618,349.00 0.00
Cash received from return on investments 24,830,822.00 0.00
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Report for the First Quarter of 2015 of BOE Technology Group Co., Ltd.
Net cash received from disposal of fixed assets, intangible assets and other
431,413.00 128,324.00
long-term assets
Net cash received from disposal of subsidiaries or other business units 0.00 0.00
Other cash received relating to investing activities 449,475,347.00 883,712,077.00
Subtotal of cash inflows from investing activities 2,438,355,931.00 883,840,401.00
Cash paid to acquire fixed assets, intangible assets and other long-term
5,519,405,867.00 4,042,846,525.00
assets
Cash paid for investment 1,977,564,789.00 5,971,884.00
Net increase of pledged loans 0.00 0.00
Net cash paid to acquire subsidiaries and other business units 4,000,000.00 0.00
Other cash payments relating to investing activities 253,826,518.00 22,452,465.00
Subtotal of cash outflows from investing activities 7,754,797,174.00 4,071,270,874.00
Net cash flows from investing activities -5,316,441,243.00 -3,187,430,473.00
III. Cash Flows from Financing Activities:
Cash received from capital contributions 0.00 30,752,700,690.00
Including: Cash received from minority shareholder investments by
0.00 0.00
subsidiaries
Cash received from borrowings 1,566,209,834.00 7,953,942,608.00
Cash received from issuance of bonds 0.00 0.00
Other cash received relating to financing activities 0.00 31,788,804.00
Subtotal of cash inflows from financing activities 1,566,209,834.00 38,738,432,102.00
Repayment of borrowings 1,619,177,601.00 6,139,782,895.00
Cash paid for interest expenses and distribution of dividends or profit 396,665,682.00 306,689,900.00
Including: dividends or profit paid by subsidiaries to minority
0.00 0.00
shareholders
Other cash payments relating to financing activities 168,363,230.00 443,411,961.00
Sub-total of cash outflows from financing activities 2,184,206,513.00 6,889,884,756.00
Net cash flows from financing activities -617,996,679.00 31,848,547,346.00
IV. Effect of foreign exchange rate changes on cash and cash equivalents 105,885,330.00 35,386,569.00
V. Net increase in cash and cash equivalents -3,525,998,943.00 30,376,588,375.00
Add: Opening balance of cash and cash equivalents 36,504,707,160.00 16,474,975,849.00
VI. Closing balance of cash and cash equivalents 32,978,708,217.00 46,851,564,224.00
6. Cash flow statement of the Company
Unit: RMB Yuan
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Report for the First Quarter of 2015 of BOE Technology Group Co., Ltd.
Item Jan.-Mar. 2015 Jan.-Mar. 2014
I. Cash flows from operating activities:
Cash received from sale of commodities and rendering of service 50,318,798.00 38,708,872.00
Tax refunds received 0.00 540,186.00
Other cash received relating to operating activities 329,566,686.00 300,175,856.00
Subtotal of cash inflows from operating activities 379,885,484.00 339,424,914.00
Cash paid for goods and services 49,971,986.00 48,088,325.00
Cash paid to and for employees 196,573,028.00 132,210,190.00
Various taxes paid 18,517,675.00 19,480,900.00
Other cash payment relating to operating activities 116,680,420.00 98,472,402.00
Subtotal of cash outflows from operating activities 381,743,109.00 298,251,817.00
Net cash flows from operating activities -1,857,625.00 41,173,097.00
II. Cash flows from investing activities:
Cash received from retraction of investments 0.00 0.00
Cash received from return on investments 0.00 0.00
Net cash received from disposal of fixed assets, intangible assets and other
24,000.00 2,100.00
long-term assets
Net cash received from disposal of subsidiaries or other business units 0.00 0.00
Other cash received relating to investing activities 35,686,166.00 10,562,426.00
Subtotal of cash inflows from investing activities 35,710,166.00 10,564,526.00
Cash paid to acquire fixed assets, intangible assets and other long-term
18,918,169.00 26,914,282.00
assets
Cash paid for investment 6,417,564,789.00 6,000,000.00
Net cash paid to acquire subsidiaries and other business units 0.00 0.00
Other cash payments relating to investing activities 451,550.00 2,168,040.00
Subtotal of cash outflows from investing activities 6,436,934,508.00 35,082,322.00
Net cash flows from investing activities -6,401,224,342.00 -24,517,796.00
III. Cash Flows from Financing Activities:
Cash received from capital contributions 0.00 30,752,700,690.00
Cash received from borrowings 0.00 0.00
Cash received from issuance of bonds 0.00 0.00
Other cash received relating to financing activities 0.00 0.00
Subtotal of cash inflows from financing activities 0.00 30,752,700,690.00
Repayment of borrowings 0.00 0.00
Cash paid for interest expenses and distribution of dividends or profit 0.00 0.00
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Report for the First Quarter of 2015 of BOE Technology Group Co., Ltd.
Other cash payments relating to financing activities 10,750.00 0.00
Sub-total of cash outflows from financing activities 10,750.00 0.00
Net cash flows from financing activities -10,750.00 30,752,700,690.00
IV. Effect of foreign exchange rate changes on cash and cash equivalents 151,273.00 18,319.00
V. Net increase in cash and cash equivalents -6,402,941,444.00 30,769,374,310.00
Add: Opening balance of cash and cash equivalents 8,671,876,589.00 1,702,470,760.00
VI. Closing balance of cash and cash equivalents 2,268,935,145.00 32,471,845,070.00
II. Auditor’s report
Is this report audited?
□ Yes √ No
This report is not audited.
Chairman of the Board: Mr. Wang Dongsheng (signature)
Date of the Board of Directors approving to report: 22 Apr 2015
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