2015 Semi-annual Report
August 2015
2015 Semi-annual Report of BOE Technology Group Co., Ltd.
Section I. Important Reminders, Contents & Definitions
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 meeting for reviewing this report.
The Company’s profit distribution preplan upon review and approval of this board meeting:
Based on the total shares of 35,153,067,743, a cash dividend of RMB 0.10 (tax included) and 0
bonus shares (tax included) will be distributed for every 10 shares held by shareholders, and 0
shares will be increased to all shareholders for every 10 shares held by them with the capital
reserves.
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.
This report is prepared as per China’s Accounting Standards for Business Enterprises and
other relevant regulations.
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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2015 Semi-annual Report of BOE Technology Group Co., Ltd.
Contents
Section I. Important Reminders, Contents & Definitions .............................................................. 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 ........................................................................................................... 30
Section VI. Changes in Shares & Particulars about Shareholders.............................................. 40
Section VII. Preference Shares ....................................................................................................... 46
Section VIII. Directors, Supervisors & Senior Management Staff .............................................. 47
Section IX. Financial Report ........................................................................................................... 50
Section X. Documents Available for Reference ........................................................................... 187
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2015 Semi-annual Report of BOE Technology Group Co., Ltd.
Definitions
Term Refers to Contents
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 2014)
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‖
The cninfo website Refers to http://www.cninfo.com.cn/
BOEOST Refers to BOE Optical Science and Technology Co., Ltd.
Chengdu BOE Refers to Chengdu BOE Optoelectronics Technology Co., Ltd.
Hefei BOE Refers to Hefei BOE Optoelectronics Technology Co., Ltd.
BOE Display Refers to Beijing BOE Display Technology Co., Ltd.
Hefei Xinsheng Refers to Hefei Xinsheng Optoelectronics Technology Co., Ltd.
Yuansheng Optoelectronics Refers to Ordos Yuansheng Optoelectronics Co., Ltd.
Chongqing BOE Refers to Chongqing BOE Optoelectronics Technology Co., Ltd.
OASIS Hospital Refers to OASIS International Hospital
SID Refers to SID Display Week
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2015 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 the Company (if any) 京东方
English name of the Company (if any) BOE TECHNOLOGY GROUP CO., LTD.
Abbr. of the English name of the Company (if any) BOE
Legal representative of the Company Wang Dongsheng
II. Contact information
Item Company Secretary Securities Affairs Representative
Name Liu Hongfeng -
Contact address No. 10, Jiuxianqiao Road, Chaoyang District, Beijing, P.R.China -
Tel. 010－64318888 ext. -
Fax 010－64366264 -
E-mail liuhongfeng@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 2014 Annual Report.
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 2014
Annual Report.
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2015 Semi-annual Report of BOE Technology Group Co., Ltd.
3. Changes in the registered information
Did any change occur to the registered information during the reporting period?
□ Applicable √ Inapplicable
The registration date and place of the Company, its business license No., taxation registration No. and organizational code did not
change during the reporting period. The said information can be found in the 2014 Annual Report.
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2015 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) 22,970,848,112.00 16,113,171,584.00 42.56%
Net profit attributable to shareholders of the
1,951,170,852.00 1,041,635,714.00 87.32%
Company (RMB Yuan)
Net profit attributable to shareholders of the
Company after extraordinary gains and 1,576,397,937.00 550,289,218.00 186.47%
losses (RMB Yuan)
Net cash flows from operating activities
5,453,391,488.00 3,253,640,502.00 67.61%
(RMB Yuan)
Basic EPS (RMB Yuan/share) 0.055 0.050 10.00%
Diluted EPS (RMB Yuan/share) 0.055 0.050 10.00%
Weighted average ROE (%) 2.53% 2.38% 0.15%
Item As at the end of the reporting period As at the end of last year +/- (%)
Total assets (RMB Yuan) 140,855,989,366.00 136,240,283,477.00 3.39%
Net assets attributable to shareholders of the
78,096,913,076.00 76,155,071,579.00 2.55%
Company (RMB Yuan)
Did any change occur to the share capital and the owners’ equity was affected during the period from the end of the reporting period
to the disclosure date of this report due to new issue, additional issue, allotment, exercise of equity incentive, buy-back, etc.?
√ Yes □ No
Basic EPS based on the new share capital (RMB Yuan/share) 0.0555
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.
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2015 Semi-annual Report of BOE Technology Group Co., Ltd.
2. Differences of net profit and net assets disclosed in financial reports prepared under overseas and
Chinese accounting standards
□ Applicable √ Inapplicable
No difference.
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 offset part of asset impairment
-7,766,899.00 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 406,391,203.00 Naught
standards
Capital occupation charges on non-financial enterprises that were recorded into current gains and
0.00 Naught
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 investees when 0.00 Naught
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 control
0.00 Naught
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 impairment provisions for the accounts receivable on which the impairment test was
0.00 Naught
carried out separately
Gain/loss on loans obtained by entrusting others 0.00 Naught
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2015 Semi-annual Report of BOE Technology Group Co., Ltd.
Gain/loss on change of the fair value of investing real estate of which the subsequent measurement
0.00 Naught
is carried out adopting the fair value method
Effect on current gains/losses when a one-off adjustment is made to current gains/losses according
0.00 Naught
to requirements of taxation, accounting and other relevant laws and regulations
Custody fee income when entrusted with operation 0.00 Naught
Non-operating income and expenses other than the above 12,799,743.00 Naught
Other gain/loss items that meet the definition of an extraordinary gain/loss 0.00 Naught
Less: Income tax effects 35,414,794.00 Naught
Minority interests effects (after tax) 1,236,338.00 Naught
Total 374,772,915.00 --
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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2015 Semi-annual Report of BOE Technology Group Co., Ltd.
Section IV. Report of the Board of Directors
I. Overview
In the first half of 2015, the battle field of competition for the semi-conductor display industry moved from
technology, production capacity and prices to customer experience, product application expansion, industrial
eco-chain, business model innovation, etc. The traditional five major fields saw falling product prices because of
low market demands. Meanwhile, along with the hardware and software fusion, the application integration and the
service-oriented transformation, the display industry embraced a fifth application tide with the application of the
Internet of Things as its core. New technology, new markets and new applications arising from the fast growth in
the eight major new application markets brought new opportunities for the display industry. Despite the
complicated economic and market environments, our total assets exceeded RMB 140 billion and our net assets
surpassed RMB 78 billion as at the end of the reporting period. For the first half of 2015, we achieved operating
revenues of RMB 22.971 billion, up 42.56% year on year, and net profit attributable to shareholders of the
Company of RMB 1.951 billion, representing a rise of 87.32% from the same period of last year. And our
aggregate value at the capital market reached RMB 180 billion, up 54% from last year. In the reporting period, we
applied for 3,250 new patents and launched a series of world-leading innovative products, with which we went to
important exhibitions at home and abroad such as CeBIT in Hannover, Germany, FINETECH in Japan, SID and
Cine Gear in the US and CITE in Shenzhen, China. Our global influence kept growing. Operation in specific
business divisions is as follows:
(1) Display business
The marketizing transformation and disruptive innovation were promoted in display business.
For the display business, the Company deepened customer orientation, confirmed the first supplier, promoted the
marketing strategy of ―protection and attack‖, positively exploited new marketing area and new strategic clients,
and enhanced customer satisfaction. As a result, the total share of strategic customers for main products were
raised, the market share of mid-and-small size products kept ranking the first, and the market share of TV
products went up to 11%, ranking up as the fourth in the world. The Company carried forward disruptive product
innovation, and obtained good results in technology R&D, product development, market promotion, and
innovation management for new products and high-end products, such as the 1st 10K UHD display in the world,
the 1st color vision correction display, and the 941PPI4K-level mobile display with the highest resolution ratio in
the world. Meanwhile, the Company established interactive R&D and design platform with high efficiency to
realize technology sharing and process innovation. The Company pushed strategic transformation of product lines,
dug out the capacity of product lines, optimized product structure, and raised competitive power. The Company
also strengthened training on capability of process engineering, improved obstinate bad products, and increased
yield rate of product lines. The Company intensified the strategic partnership with suppliers to ensure stable
supply and lower cost, and provided support for annual operating goal by adjustment on dualization,
domestication, and structuralization. The Company intensified quality sense, and improved quick response to
quality issues by perfecting quality management system, promoting construction of standardization and process,
as well as well handling obstinate bad products. The Company propelled the process of key projects. The climbing
output and yield rate of Chongqing Generation 8.5 line were improved. As scheduled, the Company shall quickly
and efficiently carry forward the early-stage preparation and process engineering demonstration for projects of
Chengdu Generation 6 line, Hefei Generation 10.5 line, and Fuzhou Generation 8.5 line. And Chengdu Generation
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2015 Semi-annual Report of BOE Technology Group Co., Ltd.
6 line has been put into operation on 8 May.
(2) Smart system business
For the smart system business, the Company further strengthened on market insight and identification of new
products, new applications, and new channels, optimized planning process for disruptively innovative products
and channel structures, and carried forward key consumption and commercial projects.
Smart system business: The Company clearly defined product strategies and product roadmaps, and tentatively set
up high-end product systems around the core of Alta series, as well as the interactive online and offline marketing
model. The Alta product won 2 international awards, the iF Gold Award and the Red Dot Award, gradually
building its high-end brand image. Complete machine OEM business: the Company reinforced on enlarging new
clients and introducing product certification, optimized R&D process, developed new products, raised
competitiveness, overfulfilled the business index plan, and obtained stable profit growth. Backlight module
business: the Company positively expanded external markets and gained obvious effects, advanced outstanding
operation management, raised operating efficiency, overfulfilled the business index plan, and realized the demand
of ―half more assignments accomplished after half more time passed‖. Smart wearing business: The Company,
based on internet thinking, researched on combination of wearing technology and finance service, and smoothly
planned the 1st BOE smart wearing product combined with mobile finance application.
(3) Health service business
The Company finished strategic planning and target setting, and clearly planned the strategic execution roadmap
and action plan on health service business in future 5 years.
Health medical care business: With the plan of purchasing OASIS International Hospital going well as scheduled,
the health medical care business successfully launched. The Company established strategic cooperation with
Dignity Health, the globally well-known medical care company, and received strong support in aspects of
management and operation, talents training, technology innovation, long-distance medical care cooperation, as
well as resources sharing. The cloud platform project of health medical care went well. The IBM health big-data
cooperation project officially started, aiming at establishing a big-data platform for BOE health management on
the basis of cognitive computing, and offering support for the development of smart health medical care. The
Company planned the layout of smart health science and technology industry park, and won periodic
breakthrough. Industry park business: Under the commercial module of light-asset operation, the Company
positively promoted business enlargement and project implementation, and improved profit and cash flow.
II. Main business analysis
YoY movements in major financial data:
Unit: RMB Yuan
Item Reporting period Same period of last year YoY +/-% Main reasons for movements
The new production lines were running
Operating revenues 22,970,848,112.00 16,113,171,584.00 42.56% at full capacity and the yields were sold
out.
Increased along with the growth in
Operating costs 17,509,610,448.00 12,630,118,473.00 38.63%
operating revenues
Selling expenses 532,688,703.00 481,663,833.00 10.59% -
Administrative expenses 2,252,419,046.00 1,698,855,995.00 32.58% The new projects went into operation and
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2015 Semi-annual Report of BOE Technology Group Co., Ltd.
the R&D inputs increased.
Financial expenses 176,341,089.00 106,739,572.00 65.21% Expensed interest cost increased.
The main business generated more
Income tax expenses 411,060,664.00 156,020,200.00 163.47%
profits.
R&D inputs 1,414,269,610.00 934,158,103.00 51.40% R&D was enhanced.
Net cash flows from
5,453,391,488.00 3,253,640,502.00 67.61% Operating results saw growth.
operating activities
Net cash flows from
-11,570,264,006.00 -9,406,248,514.00 23.01% -
investing activities
The arrival of raised funds generated
Net cash flows from
1,699,283,524.00 30,604,020,368.00 -94.45% some cash inflows in the same period of
financing activities
last year.
The arrival of raised funds generated
Net increase in cash and
-4,495,264,852.00 24,494,958,224.00 -118.35% some cash inflows in the same period of
cash equivalents
last year.
Major changes in the profit structure or sources of the Company during the reporting period:
□ Applicable √ Inapplicable
No major changes 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
No such cases.
Review the reporting period progress of any previously disclosed business plan:
Chongqing 8.5G Line project: Put into production in this March, Chongqing 8.5G Line has now started mass production, with a
smooth release of its production capacity and a steadily improving yield rate.
III. Breakdown of main business
Unit: RMB Yuan
Increase/decrease Increase/decrease Increase/decrease
Gross of operating of operating cost of gross profit
Operating
Operating cost profit rate revenue over the over the same rate over the same
revenue
(%) same period of period of last year period of last year
last year (%) (%) (%)
Classified by industry
Display device 20,865,124,037.00 15,697,850,851.00 24.77% 48.07% 43.19% 2.57%
Intelligent system 3,812,170,284.00 3,520,053,099.00 7.66% 38.76% 39.54% -0.52%
Intelligent health
348,512,370.00 218,288,374.00 37.37% 13.37% 20.95% -3.92%
service
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2015 Semi-annual Report of BOE Technology Group Co., Ltd.
Other 325,890,582.00 5,956,099.00 98.17% -4.42% -5.59% 0.02%
Offset -2,380,849,161.00 -1,932,537,975.00 18.83% 73.33% 85.50% -5.33%
Classified by product
Display devices 20,865,124,037.00 15,697,850,851.00 24.77% 48.07% 43.19% 2.57%
Intelligent
3,812,170,284.00 3,520,053,099.00 7.66% 38.76% 39.54% -0.52%
systems
Intelligent health
348,512,370.00 218,288,374.00 37.37% 13.37% 20.95% -3.92%
service
Other 325,890,582.00 5,956,099.00 98.17% -4.42% -5.59% 0.02%
Offset -2,380,849,161.00 -1,932,537,975.00 18.83% 73.33% 85.50% -5.33%
Classified by region
China 10,423,935,040.00 7,810,513,563.00 25.07% 10.15% 15.05% -3.19%
Other Asian
countries and 9,688,474,487.00 7,515,877,756.00 22.42% 70.72% 52.54% 9.24%
regions
Europe 1,129,809,921.00 842,777,512.00 25.41% 191.82% 145.62% 14.03%
America 1,643,543,862.00 1,275,908,578.00 22.37% 179.64% 123.39% 19.55%
Other regions 85,084,802.00 64,533,039.00 24.15% Inapplicable Inapplicable Inapplicable
IV. Core competitiveness analysis
1. Reinforcing the foundation of core business, promoting the rapid development of new business and improving
sustainable development capacity
In the first half year, BOE has expanded the new business of wisdom system and health services, optimized
business layout and improved core competitiveness on the core foundation of display device. Division of display
device: Chongqing 8.5G line has put into production in March; Chengdu 6G line, Fuzhou 8.5G line, Hefei 10.5G
line and other new production lines have been implemented on schedule. Division of wisdom system: BOE
proprietary terminal product, Alta, has been listed in the market successfully. Division of health services: the
merger agreement has successfully signed with Oasis International Hospital; strategic memorandum of
understanding is signed with American Dignity Health Group for the all-dimensional strategic cooperation and
development of market in China; strategic cooperation agreement is signed with IBM to develop big data platform
of health management based on cognitive computing and improve analysis and processing capacity of health and
medical big data.
2. Further improving technology and product innovation capacity and launching a series of top innovative
products
It is to achieve success with innovation by upholding the principle of innovation driving creation and continuous
technology and product innovation. For technological innovation, in the first half year, more than 3,250 patents
have been applied by BOE, including 90% patents for invention. Until now, there are more than 320,000 patents
available for use. For the product innovation, in the first half year, BOE has launched a series of global leading
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2015 Semi-annual Report of BOE Technology Group Co., Ltd.
innovative products, including the first 10K ultrahigh definition display screen, first color correction screen and
first 4K medium and small display screen with maximum resolution ratio in the world, in which 82‖10K was a hit
with audiences in SID exhibition and awarded the prize of Best In Show. Its resolution ratio is 5 times of 4K
mobile display screen and 21 times of current full high definition (FHD) television. Pixel density of the 4.7 inch
UHD display screen with global maximum resolution ratio reaches 941PPI. The global first 9.55‖ flexible
transparent OLED is also launched in the market. Furthermore, the terminal product, Alta, has been successfully
launched in the market and been granted the international prizes of iF Gold Award and Red Dot Award.
3. Developing and maintaining strategic customers and segmenting market
Adhering to the principle of ―deep collaboration, collaborative development and value co-production‖, BOE has
been the world leading supplier in the display field to establish the long-term and sustainable cooperative
relationship with Samsung, LG, Hisense, Konka, Lenovo, Dell and HP. Besides strengthening and stabilizing
cooperation, BOE is also devoted to optimize product structure, segment market, and improve market share in the
five markets. Moreover, it has maintained the a leading market share of the first in mobile phone and tablet PC
and the top five in the world laptop, displayer and television.
4. Improving the global influence of the brand by high-quality products and technologies
Alta press conference was held successfully to improve the high-end brand image by its conciseness, pureness and
perfectionism. It has participated in the exhibitions to improve the global influence, such as CeBIT in Hanover
Germany, FINETECH in Japan, SID and Cine Gear in U.S. and CITE in Shenzhen.
V. Investment analysis
1. Investments in equities of external parties
(1) Investments in external parties
√Applicable □ Inapplicable
Investments in external parties
Investment amount in
reporting period (RMB Investment amount in same period of last year (RMB Yuan) +/-%
Yuan)
17,150,625.00 0.00 Inapplicable
Particulars about investees
Proportion of the Company’s
Name of investee Main business investment in the investee’s total
equity interests (%)
Fuzhou BOE Investment, construction, R&D, production and sales of the
Optoelectronics relevant products of thin film transistor LCD and its auxiliary 19.00%
Technology CO,. Ltd products
Equity investment in TMT (technology, media and
DanhuaCapital,L.P. 5.48%
telecommunication)
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2015 Semi-annual Report of BOE Technology Group Co., Ltd.
(2) Equity-holdings in financial enterprises
□Applicable√ Inapplicable
No such cases in the reporting period.
(3) Investment in securities
□ Applicable √ Inapplicable
No such cases in the reporting period.
（4）Shareholdings in other listed companies
√ Applicable □ Inapplicable
Change of
Initial The Company’s Gain/loss for
Closing book owner’s equity
investment shareholding reporting Source
Stock code Stock abbr. value (RMB in the reporting Accounting title
amount (RMB percentage in the period of stock
Yuan) period (RMB
Yuan) investee (%) (RMB Yuan)
Yuan)
HK00903 TPV 134,658,158 1.04% 31,313,425 193,252.00 -972,403 Available-for-sale Subscri
Technology financial assets ption
SH600658 Electronic 90,160,428 1.69% 148,568,929 2,553,068.00 33,484,471 Available-for-sale Share
Zone financial assets swap
HK01963 Bank of 120,084,375 0.93% 147,030,814 0 27,976,093 Available-for-sale Subscri
Chongqing financial assets ption
Total 344,902,961 -- 326,913,168 2,746,320.00 60,488,161 -- --
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2015 Semi-annual Report of BOE Technology Group Co., Ltd.
2. Wealth management entrustment, derivative investments and entrustment loans
(1) Wealth management entrustment
√ Applicable □ Inapplicable
Unit: RMB Ten Thousand
Principal
Related-party Impairment Actual gain
Related-party Amount of Payment actually Anticipated
Name of trustee transaction Type of products Beginning date Ending date provision (if or loss in
relation wealth determination recovered in income
or not any) current period
current period
Bank wealth Pledgeable
SPD Bank No No 10,000 2014/09/01 2015/02/28 10,000 0 78 78
management product income
Bank wealth Pledgeable
SPD Bank No No 15,000 2014/09/05 2015/03/04 15,000 0 125 125
management product income
Bank wealth Pledgeable
SPD Bank No No 1,000 2014/10/10 2015/01/08 1,000 0 1 1
management product income
Bank wealth Pledgeable
SPD Bank No No 15,000 2014/10/16 2015/04/14 15,000 0 207 207
management product income
Bank wealth Pledgeable
SPD Bank No No 1,000 2014/10/20 2015/01/17 1,000 0 2 2
management product income
Bank wealth Pledgeable
SPD Bank No No 10,000 2014/10/20 2015/01/18 10,000 0 23 23
management product income
Bank wealth Pledgeable
SPD Bank No No 1,000 2015/01/13 2015/04/13 1,000 0 11 11
management product income
Bank wealth Pledgeable
SPD Bank No No 1,000 2015/01/22 2015/04/22 1,000 0 11 11
management product income
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2015 Semi-annual Report of BOE Technology Group Co., Ltd.
Bank wealth Pledgeable
SPD Bank No No 10,000 2015/03/04 2015/06/02 10,000 0 121 121
management product income
Bank wealth Pledgeable
SPD Bank No No 15,000 2015/04/16 2015/07/15 0 0 157 0
management product income
Bank wealth Pledgeable
SPD Bank No No 1,000 2015/04/16 2015/07/15 0 0 9 0
management product income
Bank wealth Pledgeable
SPD Bank No No 15,000 2015/04/30 2015/07/29 0 0 123 0
management product income
Bank wealth Pledgeable
SPD Bank No No 1,000 2015/05/08 2015/08/06 0 0 7 0
management product income
Bank wealth Pledgeable
SPD Bank No No 400 2015/05/29 2015/08/27 0 0 2 0
management product income
Bank wealth Pledgeable
Bank of China No No 10,000 2014/09/22 2015/01/05 10,000 0 5 5
management product income
Bank wealth Pledgeable
Bank of China No No 15,000 2014/09/25 2015/01/15 15,000 0 28 28
management product income
Bank wealth Pledgeable
Bank of China No No 15,000 2014/09/29 2015/01/26 15,000 0 49 49
management product income
Bank wealth Pledgeable
Bank of China No No 20,000 2014/10/16 2015/01/19 20,000 0 47 47
management product income
Bank wealth Pledgeable
Bank of China No No 10,000 2014/10/29 2015/02/06 10,000 0 46 46
management product income
Bank wealth Pledgeable
Bank of China No No 10,000 2015/01/06 2015/04/08 10,000 0 121 121
management product income
Bank wealth Pledgeable
Bank of China No No 15,000 2015/01/16 2015/04/16 15,000 0 178 178
management product income
16
2015 Semi-annual Report of BOE Technology Group Co., Ltd.
Bank wealth Pledgeable
Bank of China No No 20,000 2015/01/20 2015/04/20 20,000 0 237 237
management product income
Bank wealth Pledgeable
Bank of China No No 15,000 2015/01/27 2015/04/27 15,000 0 178 178
management product income
Bank wealth Pledgeable
Huishang Bank No No 10,000 2014/09/24 2015/01/14 10,000 0 17 17
management product income
Bank wealth Pledgeable
Huishang Bank No No 15,000 2014/10/15 2015/01/14 15,000 0 26 26
management product income
Bank wealth Pledgeable
Huishang Bank No No 20,000 2014/11/18 2015/03/05 20,000 0 161 161
management product income
Bank wealth Pledgeable
Huishang Bank No No 10,000 2014/11/19 2015/03/04 10,000 0 80 80
management product income
Bank wealth Pledgeable
Huishang Bank No No 25,000 2015/01/16 2015/04/15 25,000 0 293 293
management product income
Bank wealth Pledgeable
Huishang Bank No No 10,000 2015/03/06 2015/08/05 0 0 160 0
management product income
Bank wealth Pledgeable
Huishang Bank No No 20,000 2015/03/06 2015/08/05 0 0 321 0
management product income
Bank wealth Pledgeable
Huishang Bank No No 25,000 2015/04/17 2015/08/12 0 0 258 0
management product income
Bank wealth Pledgeable
Huishang Bank No No 20,000 2015/04/22 2015/08/05 0 0 193 0
management product income
Bank wealth Pledgeable
Huishang Bank No No 20,000 2015/05/29 2015/08/26 0 0 79 0
management product income
Bank wealth Pledgeable
Huishang Bank No No 30,000 2015/05/29 2015/08/26 0 0 118 0
management product income
17
2015 Semi-annual Report of BOE Technology Group Co., Ltd.
Bank wealth Pledgeable
Huishang Bank No No 35,000 2015/06/04 2015/09/16 0 0 112 0
management product income
Bank wealth Pledgeable
Huishang Bank No No 15,000 2015/06/05 2015/09/23 0 0 46 0
management product income
Bank wealth Pledgeable
Huishang Bank No No 20,000 2015/06/05 2015/09/10 0 0 62 0
management product income
Bank wealth Pledgeable
Everbright Bank No No 19,000 2014/11/20 2015/02/20 19,000 0 120 120
management product income
Bank of Bank wealth Pledgeable
No No 15,000 2014/12/08 2015/03/05 15,000 0 127 127
Communications management product income
Bank of Bank wealth Pledgeable
No No 10,000 2015/02/09 2015/05/06 10,000 0 119 119
Communications management product income
Bank of Bank wealth Pledgeable
No No 15,000 2015/03/04 2015/06/02 15,000 0 189 189
Communications management product income
Bank of Bank wealth Pledgeable
No No 15,000 2015/03/06 2015/06/04 15,000 0 189 189
Communications management product income
Bank of Bank wealth Pledgeable
No No 10,000 2015/04/10 2015/07/08 0 0 112 0
Communications management product income
Bank of Bank wealth Pledgeable
No No 15,000 2015/04/20 2015/07/15 0 0 149 0
Communications management product income
Bank of Bank wealth Pledgeable
No No 10,000 2015/05/08 2015/08/05 0 0 71 0
Communications management product income
Bank of Bank wealth Pledgeable
No No 30,000 2015/05/29 2015/08/24 0 0 121 0
Communications management product income
Bank of Bank wealth Pledgeable
No No 25,000 2015/06/11 2015/09/09 0 0 59 0
Communications management product income
18
2015 Semi-annual Report of BOE Technology Group Co., Ltd.
Industrial and
Bank wealth Pledgeable
Commercial No No 25,500 2014/12/24 2015/07/30 0 0 620 0
management product income
Bank of China
Industrial and
Bank wealth Pledgeable
Commercial No No 13,500 2014/12/31 2015/04/01 13,500 0 162 162
management product income
Bank of China
Industrial and
Bank wealth Pledgeable
Commercial No No 10,000 2015/01/20 2015/04/20 10,000 0 120 120
management product income
Bank of China
Industrial and
Bank wealth Pledgeable
Commercial No No 19,000 2015/02/28 2015/07/30 0 0 305 0
management product income
Bank of China
Industrial and
Bank wealth Pledgeable
Commercial No No 13,500 2015/04/02 2015/08/03 0 0 158 0
management product income
Bank of China
Industrial and
Bank wealth Pledgeable
Commercial No No 10,000 2015/04/22 2015/08/13 0 0 92 0
management product income
Bank of China
Industrial and
Bank wealth Pledgeable
Commercial No No 48,000 2015/06/05 2015/09/28 0 0 158 0
management product income
Bank of China
Bank wealth Pledgeable
Industrial Bank No No 10,000 2015/06/15 2015/09/13 0 0 18 0
management product income
Total 814,900 -- -- -- 371,500 0 6,581 3,071
Source of the entrusted funds Self-owned funds
Cumulative overdue principals and gains 0
19
2015 Semi-annual Report of BOE Technology Group Co., Ltd.
Lawsuit (if applicable) Inapplicable
Disclosure date of the announcement about the board approving the 2015/04/21
wealth management entrustment (if any)
Disclosure date of the announcement about the general meeting 2015/05/21
approving the wealth management entrustment (if any)
20
2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
(2) Derivatives investment
□ Applicable √ Inapplicable
No such cases in the reporting period.
(3) Entrustment loans
□ Applicable √ Inapplicable
No such cases in the reporting period.
3. Use of raised funds
√Applicable □ Inapplicable
（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 563,859
Raised funds accumulatively input 3,339,615
Raised funds with changed use in the reporting period 350,000
Accumulative raised funds with changed use 350,000
Proportion of accumulative raised funds with changed use (%) 7.80%
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, of which the actual net raised monetary funds stood at RMB 30,351,705,053.64. Up to 30 June 2015, we have input RMB 6,995,000,000.00 into subsidiary Hefei
Xinsheng for carrying out the Hefei 8.5G Line project, another RMB 2,500,000,000.00 into subsidiary Hefei Xinsheng for carrying out the touch screen production line project, RMB
21
2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
2,500,000,000.00 into subsidiary Yuansheng Optoelectronics for carrying out the Ordos 5.5G Line project, RMB 15,200,000,000.00 into subsidiary Chongqing BOE for carrying out the
Chongqing 8.5G Line project, supplemented our working capital with RMB 1,651,705,053.34 and paid RMB 305,453,579.32 as issuance expense. The remaining raised funds of RMB
1,864,134,439.24 (including the derivative interest of RMB 263,592,381.57 for the raised funds) are deposited in our special deposit account for raised funds.
（2）Projects invested with raised funds as promised
√Applicable □ Inapplicable
Unit: RMB Ten thousand
Projects invested with Investment Date when the
Project changed or Raised Investment Input in the Accumulative Profit generated Reach the Material change
raised capital as promised progress up to project reaches the
not (including capital input after reporting input up to the in the reporting expected profit in the project
and investments with the period-end expected usable
partially changed) as promised adjustment (1) period period-end (2) period or not feasibility or not
over-raised capital (%)(3)＝(2)/(1) condition
Projects invested with raised capital as promised
1. Hefei 8.5G Line Project No 700,000 700,000 209,754 548,065 78.29% 2014/10/01 597,085 Inapplicable No
2. Touch Screen
No 250,000 250,000 43,972 227,537 91.01% Q4,2015 0 Inapplicable No
Production Line Project
3. Ordos 5.5G Line Project No 400,000 400,000 23,189 247,119 61.78% Q4,2015 0 Inapplicable No
4. Chongqing 8.5G Line
Yes 1,520,000 1,170,000 286,944 698,423 59.69% Q3,2015 0 Inapplicable No
Project
5. Supplementing the
No 165,171 165,171 0 165,171 100.00% Inapplicable Inapplicable Inapplicable No
working capital
6. Subscription to equity
No 853,300 853,300 0 853,300 100.00% Inapplicable Inapplicable Inapplicable Inapplicable
interests in BOE Display
7. Subscription to
creditor’s rights on Hefei No 600,000 600,000 0 600,000 100.00% Inapplicable Inapplicable Inapplicable Inapplicable
Jianxiang
Subtotal of promised -- 4,488,471 4,138,471 563,859 3,339,615 -- -- Inapplicable -- --
22
2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
investment projects
Investments of over-raised capital
Total -- 4,488,471 4,138,471 563,859 3,339,615 -- -- Inapplicable -- --
Reason for failing to reach
scheduled progress or
No such cases in the reporting period.
projected income (explain
one project by one project)
Explanation on significant
changes in feasibility of Naught
projects
Amount, usage and usage
progress of over-raised Inapplicable
capital
Change of the
implementation location of
Inapplicable
any raised funds
investment project
Adjustment of the
implementation method of
Inapplicable
any raised funds
investment project
Advanced input and
exchange of any raised Inapplicable
funds investment project
Idle raised capital for
temporarily supplementing Inapplicable
working capital
23
2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Outstanding raised funds
in project implementation Inapplicable
and reasons
Usage and whereabouts of
The unused raised capital will be input to promise investment projects as planned.
unused raised capital
Problems found in the
usage and disclosure
Naught
affairs of raised capital and
other situations
（3）Changes in raised-funds-invested projects
√ Applicable □ Inapplicable
Unit: RMB Ten thousand
Total raised funds Material change
Investment Date when the
planned to be Actual cumulative Profit generated in Reach the in the
Project after Project before Actual input for progress up to the project reaches
input for the input by the reporting expected profit or after-change
change change reporting period period-end (3)＝ the expected
project after period-end (2) period not project feasibility
(2)/(1) usable condition
change (1) or not
Chongqing 8.5G
Chongqing 8.5G
30K production 350,000 11,324 11,324 3.24% 2Q,2016 0 Inapplicable No
Line Project
expansion project
Total -- 350,000 11,324 11,324 -- -- 0 -- --
Considering the narrowing profit margin for touch screen due to increasingly fierce competition, our analysis of market trends and the
Reasons for change, decision-making procedure and actual situation of the project, the use of some raised funds has been adjusted according to the Proposal for Adjusting Use of Some
relevant information disclosure (explain one project by Raised Funds to Invest in Chongqing 8.5G Line 30K Production Expansion Project which was reviewed and approved at the 23 rd
one project) Meeting of the Seventh Board of Directors dated 19 April 2015 and later at the 2014 Annual General Meeting dated 20 May 2015. The
adjustment details have been disclosed in the Announcement No. 2015-022 of BOE Technology Group Co., Ltd. on Adjusting Use of
24
2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Some Raised Funds to Invest in Chongqing 8.5G Line 30K Production Expansion Project dated 20 April 2015.
Reason for failing to reach scheduled progress or
Inapplicable
projected income (explain one project by one project)
Explanation on significant changes in feasibility of
No significant changes.
projects after change
（4）Projects invested with raised funds
Overview of raised-funds-invested projects Disclosure date Disclosure index
Special Report on Deposit and Actual Use of Raised Funds 25 August 2015 www.cninfo.com.cn
4. Analysis to main subsidiaries and shareholding companies
√ Applicable □ Inapplicable
Main subsidiaries and shareholding companies:
Unit: RMB Yuan
Company Registered Operating
Company name Industry Main products/services Total assets Net assets Operating profit Net profit
variety capital revenues
RMB
Beijing BOE Display Semi-conductor Development and production of
Subsidiary 17.3772 30,980,898,743.00 19,866,873,669.00 8,193,538,559.00 1,273,568,985.00 1,139,458,311.00
Technology Co., Ltd. display TFT-LCD
billion
Investment, construction, R&D,
Hefei Xinsheng production and sales of the
Semi-conductor RMB 19.5
Optoelectronics Subsidiary relevant products of thin film 37,023,671,945.00 20,781,975,921.00 6,052,827,957.00 989,997,969.00 900,950,095.00
display billion
Technology Co., Ltd. transistor LCD and its auxiliary
products
25
2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
5. Significant projects invested with non-raised funds
□ Applicable √ Inapplicable
No such cases in the reporting period.
VI. Predict the operating results of Jan.-Sept. 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
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
Bonus shares for every 10 shares (share) 0
Dividend for every 10 shares (RMB Yuan) (tax included) 0.10
Increased shares for every 10 shares (share) 0
Total shares as the basis for the distribution preplan (share) 35,153,067,743
Total cash dividends (RMB Yuan) (tax included) 351,530,677.43
Distributable profit (RMB Yuan) 464,777,016.00
Percentage of the cash dividends in the total distributed profit (%) 100.00%
Cash dividend policy:
26
2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Where the Company is in the growth stage and has any major spending plan, cash dividends distributed shall account for at least 20%
in the profit distribution.
Details about the pre-plan for profit distribution and turning capital reserve into share capital
As the profit distribution pre-plan for the reporting period, the Company intends to, based on its total shares of 35,153,067,743,
distribute a cash dividend of RMB 0.1 (tax included) to all shareholders for every 10 shares they hold, without bonus shares or
turning capital reserves into share capital. The said pre-plan is in compliance with the Company’s Articles of Association and relevant
approval procedure, and the independent directors have expressed their independent opinion on the pre-plan, which fully protects the
legal rights and interests of the minority investors.
27
2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
XI. Registration form of receiving investigation & research, communication and interviews
√ Applicable □ Inapplicable
Main content of discussion and
Reception date Reception place Reception way Type of visitor Visitor
materials provided by the Company
Meeting Room of the
14 Jan. 2015 Field research Institution Orient Securities Co., Ltd.
Company
Telephone
23 Jan. 2015 Teleconference Institution Barclays Bank
communication
Meeting Room of the Main contents of discussion:
23 Jan. 2015 Field research Institution China International Capital Corporation Ltd., individual investor
Company
1. Information about corporate operation
Telephone Institution& and future development strategy.
4 Feb. 2015 Teleconference Highbridge Capital Management LLC
communication Individual 2. Industry situation and development
Essence Securities Co., Ltd., China Life Insurance Asset Management Co., tendency.
Meeting Room of the
5 Feb. 2015 Field research Institution Ltd., China Post & Capital Fund Management Co.,Ltd., Shanghai Zexi 3. Information about certain production
Company
Investment Management Co., Ltd. lines of the Company;
Telephone Materials provided:
12 Feb. 2015 Teleconference Institution Coatue Management
communication 2013 Annual Report, 2014 Semi-annual
Beijing No. 8.5 Report, 2014 Third Quarter Report and
5 Mar. 2015 Field research Individual Individual investor Corporate brochure.
generation line
Meeting Room of the
9 Mar. 2015 Field research Institution Oppenheimer
Company
Meeting Room of the
19 Mar. 2015 Field research Institution Daiwa Securities, Sumitomo Mitsui Asset Management Company, Limited
Company
Orient Securities Company Limited, GTJA Allianz Fund management Limited
Telephone Main contents of discussion:
23 Apr. 2015 Teleconference Institution Company, Guosen Securities Assets Management Department, QHKY Asset
communication 1. Information about corporate operation
Management Co., Ltd.
28
2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Meeting Room of the and future development strategy.
24 Apr. 2015 Field research Institution Keywise Capital
Company 2. Industry situation and development
Telephone tendency.
29 Apr. 2015 Teleconference Institution Highbridge Capital Management LLC
communication 3. Information about certain production
lines of the Company;
Telephone
30 Apr. 2015 Teleconference Institution D.E. SHAW Materials provided:
communication
2014 Annual Report, 2014 First Quarter
Meeting Room of the
5 May 2015 Field research Institution Nomura Securities Report and Corporate brochure.
Company
Meeting Room of the
7 May 2015 Field research Institution Qualcomm securities, UBS, BARCLAYS
Company
Telephone
12 May 2015 Teleconference Institution Ashmore
communication
Telephone
19 May 2015 Teleconference Institution Mizuho
communication
Meeting Room of the
25 May 2015 Field research Institution Columbus Circle Investors
Company
Meeting Room of the
10 Jun. 2015 Field research Institution Rongtong Fund Management Co., Ltd.
Company
Golden Eagle Asset Management Co., Ltd., Fuanda Fund Management Co.,
Telephone
23 Jun. 2015 Teleconference Institution Ltd., Orient Securities Co., Ltd., China Asset Management Co., Ltd., E Fund
communication
Management Co., Ltd., Founder Fubon Fund Management Co., Ltd.
HSBC Securities, Shanghai Milestone Asset Management Co., Ltd., Sinolink
Meeting Room of the Securities Co Ltd., Founder Fubon Fund Management Co., Ltd., Zexi
24 Jun. 2015 Field research Institution
Company Investment Management Co., Ltd., Minsheng Securities Co., Ltd., Shanghai
Securities Co., Ltd.
29
2015 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
Significant lawsuits and arbitrations
□ Applicable √ Inapplicable
The Company was not involved in any significant lawsuit or arbitration in the reporting period.
Other lawsuits
□ Applicable √ Inapplicable
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
30
2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
1. Purchase of assets
√ Applicable □ Inapplicable
Relationship between
Transaction Ratio of the net
the transaction party
Transaction price Influence on the profit contributed Related-party
Asset acquired Influence on the and the Company Disclosure Disclosure
party or ultimate (RMB Ten Progress Company’s by the asset to the transaction
or bought in Company’s gain/loss (applicable for date index
controller thousand operation Company to the or not
related-party
Yuan) total profit (%)
transactions)
The equities
The net profit
involved had all Purchased the
contributed to the
transferred, and European Company
100% equity of listed companies
had completed the as the overseas
BOE from the purchasing
Zhang Jian 38.9 industrial and platform, which met 0.07% No Inapplicable Inapplicable Inapplicable
Technology date to the end of the
commercial with the strategic
Europe GmbH reporting period was
registration layout of the
of RMB 145.4 ten
change Company.
thousand yuan.
procedures.
2. Sale of assets
□ Applicable √ Inapplicable
The Company was not involved with any sale of assets during the reporting period.
31
2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
3. Business combination
√ Applicable □ Inapplicable
The Company included BOE Technology Europe GmbH and Chongqing BOE Display Lighting Co., Ltd. in 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 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 related parties during the reporting period.
5. Other significant related-party transactions
√ Applicable □ Inapplicable
Naught
The website to disclose the interim announcements on significant related-party transactions
Disclosure date of the Website where the interim
Title of the interim announcement
interim announcement announcement was disclosed
Announcement on the Prediction of 2015 Annual Routine
21 Apr. 2015 www.cninfo.com.cn
Related Transaction of BOE Technology Group Co., Ltd.
32
2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
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 2
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.
33
2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
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 date
on relevant Guarantee for
Amount for Actual occurrence date Actual guarantee Executed or
Guaranteed party announcement of Type of guarantee Period of guarantee a related party
guarantee (date of agreement) amount not
guaranteed or not
amount
Total guarantee line approved for external Total actual occurred amount of guarantee for
parties during the reporting period 0 external parties during the reporting period 0
(A1) (A2)
Total guarantee line that has been approved for
Total actual guarantee balance for external
external parties at the end of the reporting 0 0
parties at the end of the reporting period (A4)
period (A3)
Guarantees provided by the company for its subsidiaries
Disclosure date on Amount Actual occurrence Guarantee
Actual guarantee Executed
Guaranteed party relevant announcement for date (date of Type of guarantee Period of guarantee for a related
amount or not
of guaranteed amount guarantee agreement) party or not
Ordos Yuansheng Optoelectronics Co.,
2 Apr. 2013 450,000 22 May 2013 443,453 Pledge 17 Jun. 2013 – 9 Jun. 2021 No No
Ltd.
Beijing BOE Display Technology Co.,
14 Aug. 2014 1,050,000 30 Sep. 2014 539,588 Joint liability guarantee 27 Jan. 2011 – 26 Jan. 2020 No No
Ltd.
Hefei Xin Sheng Optoelectronics 25 Mar. 2014 – 28 Feb.
14 Aug. 2014 300,000 8 Dec. 2014 86,000 Joint liability guarantee No No
Technology Co., Ltd. 2019
Ordos Yuan Sheng Optoelectronics 14 Aug. 2014 450,000 30 Sep. 2014 443,453 Joint liability guarantee 17 Jun. 2013 – 9 Jun. 2021 No No
34
2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Co., Ltd.
Chongqing BOE Optoelectronics
14 Aug. 2014 1,320,000 29 Sep. 2014 654,155 Joint liability guarantee 5 Nov. 2014 – 5 Nov. 2022 No No
Technology Co., Ltd.
Hefei Xin Sheng Optoelectronics
14 Aug. 2014 1,131,016 15 Jan. 2015 1,131,016 Joint liability guarantee 6 Jan. 2014 – 6 Jan. 2022 No No
Technology Co., Ltd.
Hefei BOE Optoelectronics Co., Ltd. 14 Aug. 2014 705,224 12 Mar. 2015 514,265 Joint liability guarantee 23 Jun. 2010 – 23 Jun. 2019 No No
From the date of the
Chongqing BOE Optoelectronics
14 Aug. 2014 300,000 25 May 2015 60,000 Joint liability guarantee establishing the letter of No No
Technology Co., Ltd.
guarantee – 31 Dec. 2020
The total amount of actual occurrence of
The total amount of guarantee limits for subsidiaries approved
0 guarantee for subsidiaries in the reporting 1,226,535
in the reporting period (B1)
period (B2)
The total balance of actual guarantee for
The total amount of guarantee for subsidiaries approved up to
5,256,240 subsidiaries up to the end of reporting 3,428,477
the end of reporting period (B3)
period (B4)
Guarantees provided by the subsidiaries for their subsidiaries
Disclosure date on
Actual occurrence Guarantee
relevant Amount for Actual guarantee Executed
Guaranteed party date (date of Type of guarantee Period of guarantee for a related
announcement of guarantee amount or not
agreement) party or not
guaranteed amount
Ordos Yuan Sheng
2 Apr. 2013 450,000 22 May 2013 443,453 Pledge 17 Jun. 2013 – 9 Jun. 2021 No No
Optoelectronics Co., Ltd.
The total amount of actual occurrence of
The total amount of guarantee limits for subsidiaries
0 guarantee for subsidiaries in the reporting 0
approved in the reporting period (C1)
period (C2)
The total amount of guarantee for subsidiaries The total balance of actual guarantee for
0 0
approved up to the end of reporting period (C3) subsidiaries up to the end of reporting period
35
2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
(C4)
The total amount of guarantee by the Company (the total amount of the first three items)
The total amount of guarantee limits approved The total amount of actual occurrence of
0 1,226,535
in the reporting period (A1+B1+C1) guarantee in the reporting period (A2+B2+C2)
The total amount of guarantee approved up to The total balance of actual guarantee up to the
5,256,240 3,428,477
the end of reporting period (A3+B3+C3) end of reporting period (A4+B4+C4)
Proportion of total amount of actual guarantee (A4+B4+C4) in the net assets of the
43.90%
Company
Among which:
Amount of guarantees provided for shareholders, actual controller and other related
0
parties (D)
Amount of debt guarantees provided directly or indirectly for parties with asset-liability
0
ratio exceeding 70% (E)
Proportion of total guarantee amount exceeding 50% of the Company’s net assets (F) 0
Total amount of the above three guarantees (D+E+F) 0
Explanation on possibility of taking several and joint liability involving immature
Naught
guarantees (if any)
Explanation on external guarantees provided by violating regulated procedures (if any) Naught
Explanation on guarantee that adopts complex method
The Company provided a joint-liability guarantee for a syndicated loan for Erdos Yuansheng Optoelectronics Co., Ltd. In the meantime, the Company, Hefei BOE Optoelectronics Technology
Co., Ltd. and Beijing BOE Display Technology Co., Ltd. provided guarantees for the said syndicated loan for Erdos Yuansheng Optoelectronics Co., Ltd. with their stakes in Erdos Haosheng
Energy Investment Co., Ltd. as the pledges.
(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.
36
2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
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 in the reporting period by the Company or its shareholders with equities of over 5% or such commitments
carried down into the reporting period
√ Applicable □ Inapplicable
Date of Period of
Commitment Commitment maker Contents of commitment Execution
commitment commitment
Commitments made in a share reform
Commitments made in acquisition reports or report on
changes in equity
Commitments made at the time of assets reorganization
Beijing State-owned Capital Operation Committed that the shares acquired from
and Management Center, Hefei Jianxiang purchasing would not be transferred from Being
8 Apr. 2014 36 months
Investment Co., Ltd., Chongqing Capital the first date of issuing the newly increased executing
Commitments at the time of initial public issuance or Optoelectronics Investment Co., Ltd. shares of the issuer within 36 months
re-financing HuaAn Funds Management Co., Ltd. Committed that the shares acquired from
Minsheng Royal Fund Management Co., purchasing would not be transferred from Completed
8 Apr. 2014 12 months
Ltd., Ping An Uob Fund Management the first date of issuing the newly increased executing
Co., Ltd. shares of the issuer within 36 months
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Other commitments made for medium and small
shareholders of the Company
Executed timely or not? Yes
Detailed reason for failing to execute and the next plan
Naught
(if any)
XI. Engagement and disengagement of the CPAs firm
Has the semi-annual financial report been audited?
□ Yes √ No
The semi-annual report had not been audited.
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. According to the Prompted Notice of BOE Technology Group Co., Ltd (Notice No.: 2015-008) released on 21 March, 2015 by the Company, the Company’s controlling shareholder has been
changed from Beijing BOE Investment & Development Co., Ltd to Beijing Electronics Holding Co., Ltd and the Company’s actual controller remains unchanged, which is Beijing Electronics
Holding Co., Ltd. Refer to the reference notice for specific information.
2. According to the Notice About Investment and Construction of 10.5G Thin Film Transistor Liquid Crystal Display Production-Line Project of BOE Technology Group Co., Ltd (Notice No.:
38
2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
2015-021) released on 21 April, 2015 by the Company, it is planned to invest and set up 10.5G thin film transistor liquid Crystal Display production line in Hefei. The project has been approved
by 2014 Annual General Meeting. Refer to the Notice for specific information.
3. According to the Share Buybacks Long-term Mechanism of BOE Technology Group Co., Ltd (2014-2016) released on 22 April, 2014 by the Company and Plan About Buyback of Partial
Public Shares of BOE Technology Group Co., Ltd released on 29 July, 2014, currently the Plan has been approved by 2nd Extraordinary General Meeting in 2014。 Up to the expiration of the
buy-back period on 13 August 2015, we had bought back a total of 136,569,831 B-shares, which were cancelled on 18 August 2015. For details, see the Announcement of BOE Technology
Group Co., Ltd. on Completion of Buy-back and Cancellation of Some Public Shares & Changes in Shares disclosed on 20 August 2015 (Notice No.: 2015-049).
4. According to the Notice About Signing Investment Framework Agreement (Notice No.: 2015-026) released on 21 April, 2015 by the Company and Notice About Investment and
Construction of 8.5G New Semiconductor Display Device Production Line Project in Fuzhou of BOE Technology Group Co., Ltd (Notice No.: 2015-040) released on 19 June, 2015, it is
planned to invest and set up 8.5G new semiconductor display device production line in Fuzhou. The project has been approved by the 2nd Extraordinary General Meeting in 2015. Refer to the
Notice for specific information.
5. According to the Notice About Acquisition of All Stock Equity of Mingde Investment Co., Ltd and Addition of Registered Capital by BOE Technology Group Co., Ltd (Notice No.: 2015-041)
released on 19 June, 2015 by the Company, currently the acquisition is in progress. The Company will hold 100% shares of Mingde Investment after acquisition for the better development of
wisdom health and medical undertakings. After transaction, it is planned to develop Mingde Investment as the investment development platform for the Company’s health and medical
undertakings. Registered capital will be added to 3 billion Yuan to guarantee the follow-up project implementation. The project has been approved by the 2nd Extraordinary General Meeting in
2015. Refer to the Notice for specific information.
6. According to the Notice About Resolutions of the 2nd Extraordinary General Meeting of BOE Technology Group Co., Ltd (Notice No.: 2015-049) released on 7 July, 2015 by the Company,
Mr. Zhang Jinsong is elected as the non-independent director in the 7th Board of Directors; Mr. Wang Huacheng is elected the independent director in the 7th Board of Directors; Mr. Chen Ming
and Ms. Shi Hong are elected the supervisors in the 7th Board of Supervisors.
7. According to the Notice About Resolutions of the 26th Meeting of the 7th Board of Directors of BOE Technology Group Co., Ltd (Notice No.: 2015-055) released on 30 July, 2015 by the
Company, Mr. Xie Xiaoming is elected deputy chairman in the 7th Board of Directors.
8. According to the Notice About Resolutions of the 11th Meeting of the 7th Board of Directors of BOE Technology Group Co., Ltd (Notice No.: 2015-056) released on 30 July, 2015 by the
Company, Mr. Chen Ming is elected chairman in the 7th Board of Supervisors.
9. Up to 9 July 2015, Chongqing BOE had received a total of RMB 100 million from the special fund from the budget of Chongqing Liangjiang New District Administration Committee, which
would be used for the Chongqing BOE 8.5G new-typed semi-conductor display device and system project.
39
2015 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
Item Percenta Percentag
Number Other Subtotal Number
ge e
I. Shares subject to trading
22,445,286,295 63.60% -11,847,831,005 -11,847,831,005 10,597,455,290 30.03%
moratorium
1. State-owned shares 0 0.00% 0 0 0 0.00%
2. Shares held by
10,595,502,993 30.02% 0 0 10,595,502,993 30.02%
state-owned corporations
3. Shares held by domestic
11,849,783,302 33.58% -11,847,831,005 -11,847,831,005 1,952,297 0.00%
investors
Among which: shares held
11,847,619,043 33.57% -11,847,619,043 -11,847,619,043 0 0.00%
by domestic legal person
Shares held by
2,164,259 0.01% -211,962 -211,962 1,952,297 0.01%
domestic natural person
4. Shares held by foreign
0 0.00% 0 0 0 0.00%
investors
Among which: shares held
0 0.00% 0 0 0 0.00%
by foreign legal person
Shares held by foreign
0 0.00% 0 0 0 0.00%
natural person
II. Shares not subject to
12,844,351,279 36.40% 11,847,831,005 11,847,831,005 24,692,182,284 69.97%
trading moratorium
1. RMB ordinary shares 11,505,691,279 32.60% 11,847,831,005 11,847,831,005 23,353,522,284 66.18%
2. Domestically listed
1,338,660,000 3.79% 0 0 1,338,660,000 3.79%
foreign shares
3. Overseas listed foreign
0 0.00% 0 0 0 0.00%
shares
4. Others 0 0.00% 0 0 0 0.00%
III. Total shares 35,289,637,574 100.00% 0 0 35,289,637,574 100.00%
Reasons of changes in shares
√ Applicable □ Inapplicable
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
1. On 15 Apr. 2015, part of the 2014 non-public offering shares of the Company had unlocked with the number of the unlocked
restricted shares of 11,847,619,043 shares.
2. On 26 Dec. 2014, there were changes of the senior executives and their whole shareholding had transferred to the shares subject to
trading moratorium, while up the period-end, which were transferred as the shares not subject to trading moratorium with the total
amount of 211,962 shares.
Approval of changes in shares
□ Applicable√ Inapplicable
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
Other contents that the Company thinks necessary or is asked by securities regulators to be disclosed
□ Applicable √ Inapplicable
Explanation of the changes in the sum of the shares and the structure of the shareholders and the structure of the assets as well as the
liabilities of the Company
□ Applicable √ Inapplicable
II. Number of shareholders and shareholding
Unit: share
1,674,791 shareholders Total number of preferred
Total number of common
(including 1,629,450 A-share shareholders that had restored
shareholders at the end of the 0
holders and 45,341 B-share the voting right at the end of the
reporting period
holders) reporting period (if any)
Shareholding of common shareholders holding more than 5% shares or the top 10 of common shareholders
Number of Increase and Number of Number of Pledged or frozen
Holding shareholding at decrease of shares held shares held shares
Name of Nature of
percenta the end of the shares during subject to not subject to
shareholder shareholder Status of Number of
ge (%) reporting reporting trading trading
shares shares
period period moratorium moratorium
Beijing State-owned
State-owned
Capital 11.51% 4,063,333,333 0 4,063,333,333 0 0
corporation
Management Center
Chongqing Capital
State-owned 1,414,150,00
Photoelectricity 8.50% 3,000,000,000 0 3,000,000,000 0 Pledged
corporation 0
Investment Co., Ltd.
Hefei Jianxiang State-owned
8.10% 2,857,142,857 0 2,857,142,857 0 0
Investment Co., Ltd. corporation
Hua An Fund －
Other 4.43% 1,564,126,904 -340,635,000 0 1,564,126,904 0
ICBC － Zhongrong
41
2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
International Trust
－ Zhongrong － RJ
No. 1 Assembled
Funds Trust Plan
Beijing BOE
Investment & State-owned
2.31% 815,781,080 -45,200,000 0 815,781,080 0
Development Co., corporation
Ltd.
Beijing
Economic-technolog State-owned
1.92% 677,423,641 -170,226,359 0 677,423,641 Pledged 423,825,000
ical Investment & corporation
Development Corp
Hefei Rongke
State-owned
Project Investment 1.91% 675,026,803 0 675,026,803 0 0
corporation
Co., Ltd.
Beijing BDA
Technological
Investment Other 1.60% 564,000,000 -36,000,000 0 564,000,000 0
Development Co.,
Ltd.
Beijing Electronics
Nation 0.78% 273,503,883 -1,800,000 0 273,503,883 0
Holding Co. Ltd.
CSOP Asset
Management Foreign
0.34% 120,101,700 58,617,200 0 120,101,700 0
Limited － CSOP corporation
A50 ETF
1. Beijing Electronics Holdings Co., Ltd. held 66.25% equities of Beijing BOE Investment &
Development Co., Ltd. and was its controlling shareholder.
2. Beijing Economic-technological Investment & Development Corp held 49% equities of
Beijing BDA Technological Investment Development Co., Ltd., and the above two companies
were both controlled by Beijing Economic and Technological Development Zone Management
Committee as well as were persons acting in concert.
Explanation on associated 3. After the non-public issuing of the Company in 2014, Hefei Jianxiang Investment Co., Ltd.
relationship or/and persons acting and Chongqing Capital Photoelectricity Investment Co., Ltd. agreed to maintain unanimous
in concert among the when executing the voting rights of the shareholders of the Company with the whole
above-mentioned shareholders shareholdings according to the declaration of intention of Beijing BOE Investment &
Development Co., Ltd. through the Implementation Protocol of Voting Right.
4. 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
42
2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Holdings Co., Ltd. through the agreement according to Implementation Protocol of Voting
Right.
5. 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.
Particulars about shares held by top 10 common shareholders not subject to trading moratorium
Number of shares held not subject to Type of share
Name of shareholder
trading moratorium at the end of the period Type of share Number
Hua An Fund － ICBC － Zhongrong
RMB ordinary
International Trust － Zhongrong － RJ No. 1 1,564,126,904 1,564,126,904
share
Assembled Funds Trust Plan
Beijing BOE Investment & Development Co., RMB ordinary
815,781,080 815,781,080
Ltd. share
Beijing Economic-Technological Investment & RMB ordinary
677,423,641 677,423,641
Development Corp. share
Beijing BDA Technological Investment RMB ordinary
564,000,000 564,000,000
Development Co., Ltd. share
RMB ordinary
Beijing Electronics Holdings Co., Ltd. 273,503,883 273,503,883
share
CSOP Asset Management Limited－CSOP A50 RMB ordinary
120,101,700 120,101,700
ETF share
Chongqing Jiangbeizui CBD Investment Group RMB ordinary
107,095,238 107,095,238
Co., Ltd. share
Sinotrans Air Transportation Development Co., RMB ordinary
78,200,000 78,200,000
Ltd. share
RMB ordinary
Harbin Fangge Economic and Trade Co., Ltd. 66,705,000 66,705,000
share
Guotai Junan－CCB－Hong Kong Shanghai RMB ordinary
60,764,441 60,764,441
HSBC Bank Co., Ltd. share
1. Beijing Electronics Holdings Co., Ltd. held 66.25% equities of Beijing BOE
Investment & Development Co., Ltd. and was its controlling shareholder.
Explanation on associated relationship among 2. Beijing Economic-technological Investment & Development Corp held 49%
the top ten shareholders of tradable share not equities of Beijing BDA Technological Investment Development Co., Ltd., and the
subject to trading moratorium, as well as among above two companies were both controlled by Beijing Economic and
the top ten shareholders of tradable share not Technological Development Zone Management Committee as well as were
subject to trading moratorium and top ten persons acting in concert.
shareholders, or explanation on 3. After the non-public issuing of the Company in 2014, Hefei Jianxiang
acting-in-concert Investment Co., Ltd. and Chongqing Capital Photoelectricity Investment Co., Ltd.
agreed to maintain unanimous when executing the voting rights of the
shareholders of the Company with the whole shareholdings according to the
43
2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
declaration of intention of Beijing BOE Investment & Development Co., Ltd.
through the Implementation Protocol of Voting Right.
4. 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.
5. 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.
Particular about shareholder participate in the
securities lending and borrowing business (if Naught
any)
Did any top 10 common shareholders or the top 10 common shareholders not subject to trading moratorium of the Company carry
out an agreed buy-back in the reporting period?
□ Yes √ No
The top 10 common shareholders or the top 10 common shareholders not subject to trading moratorium of the Company had not
carried out any agreed buy-back in the reporting period.
III. Change of the controlling shareholder or the actual controller
Change of the controlling shareholder in the reporting period
√ Applicable □ Inapplicable
Name of the new controlling shareholder Beijing Electronics Holding Co., Ltd.
Change date 10 Mar. 2015
Index of the inquiry of the designate website http://www.cninfo.com.cn
Disclosure date of the designate website 12 Mar. 2015
Change of the actual controller in the reporting period
□ Applicable √ Inapplicable
There was no any change of the actual controller of the Company in the reporting period.
IV. Particulars on shareholding increase scheme during the reporting period proposed or
implemented by the shareholders and act-in-concert persons
√ Applicable □ Inapplicable
Name of the Number of the Proportion of the Number of the Proportion of the Initial disclosure Disclosure date of
shareholders/nam shareholding shareholding actual increased actual increased date of the the end of the
e of the persons increase scheme increase scheme shareholding shareholding e shareholding execution of the
44
2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
acting in concert increase scheme shareholding
increase scheme
Naught
Notes of other situation
The controlling shareholder of the Company and the actual controller, Beijing Electronics Holding Co., Ltd.and Beijing BOE
Investment & Development Co., Ltd. committed to increase the shareholding of the Company through the methods such as the
directional asset management plan of the securities companies or the fund companies within 6 months on 9 Jul. 2015 with the
increase amount of the shareholding of not less than RMB 23.47 million (of which the increased amount of the shareholding of
BOE Investment was not less than RMB 22.62 million and Beijing Electronics Holding of not less than 0.85 million), and committed
not to increase the shareholding within 6 months since the date of the shareholding increase.
45
2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Section VII. Situation of the Preferred Shares
□ Applicable √ Inapplicable
There was no any preferred share of the Company during the reporting period.
46
2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Section VIII. Directors, Supervisors, Senior Management Staffs
I. Changes in shareholding of directors, supervisors and senior management staffs
√ Applicable □ Inapplicable
Shareholding Shareholding Shareholding Restricted shares
Shareholding at Restricted shares Restricted shares
increase during decrease during at the granted during this
Name Position Current/former the period-begin held at the period- held at the period-
the reporting the reporting period-end reporting period
(share) begin (share) end (share)
period (share) period (share) (share) (share)
Chairman of the Board
Wang
and Chief of Execution Current 299,905 0 0 299,905 0 0 0
Dongsheng
Committee
Executive Director,
Chen Yanshun Current 260,000 0 0 260,000 0 0 0
President
Wang Jing Director Current 0 0 0 0 0
Xie Xiaoming Director Current 7,680 0 0 7,680 0 0 0
Director, Executive Vice
Liu Xiaodong Current 250,000 0 0 250,000 0 0 0
President, COO
Director,
Wang Jiaheng Executive Vice Current 250,000 0 0 250,000 0 0 0
President, CO- COO
Song Jie Director Current 0 0 0 0 0 0 0
Ji Guoping Independent Director Current 0 0 0 0 0 0 0
Yu Ning Independent Director Current 0 0 0 0 0 0 0
47
2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Lv Tingjie Independent Director Current 0 0 0 0 0 0 0
Xu Tao Supervisor Current 0 0 0 0 0 0 0
Mu Chengyuan Supervisor Current 2,991 0 0 2,991 0 0 0
Zhao Wei Supervisor Current 0 0 0 0 0 0 0
Zhuang Haoyu Supervisor Current 0 0 0 0 0 0 0
Zhong Huifeng Employee Supervisor Current 150,000 0 0 150,000 0 0 0
Zhou Yanwen Employee Supervisor Current 0 0 0 0 0 0 0
Xu Yangping Employee Supervisor Current 0 0 0 0 0 0 0
Executive Vice
Song Ying Current 229,905 0 0 229,905 0 0 0
President, CHRO
Senior Vice President,
Dong Youmei Current 200,000 0 0 200,000 0 0 0
CTO
Senior Vice President,
Sun Yun Current 155,981 0 0 155,981 0 0 0
CFO
Yao Xiangjun Senior Vice President Current 100,000 0 0 100,000 0 0 0
Li Xuezheng Senior Vice President Current 186,600 0 0 186,600 0 0 0
Senior Vice President,
Yue Zhanqiu Current 150,000 0 0 150,000 0 0 0
CIO
Senior Vice President,
Feng Liqiong Current 150,000 0 0 150,000 0 0 0
Chief Counsel
Senior Vice President,
Xie Zhongdong Chief Risk Control Current 110,000 0 0 110,000 0 0 0
Officer, Chief Auditor
Secretary of Board of
Liu Hongfeng Current 100,000 0 0 100,000 0 0 0
Directors
48
2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Vice Chairman of the
Wu Wenxue Former 0 0 0 0 0 0 0
Board
Geng Jianxin Independent Director Former 0 0 0 0 0 0 0
Supervisory Board
Zhang Jingsong Former 0 0 0 0 0 0 0
Chairman
Zhang
Supervisor Former 0 0 0 0 0 0 0
Chunming
Total -- -- 2,603,062 0 0 2,603,062 0 0 0
II. Change of directors, supervisors and senior management staff
√ Applicable □ Inapplicable
Name Position Type Date Reason
Vice Chairman of the
Wu Wenxue Left 5 May 2015 Career moves
Board
Geng Jianxin Independent Director Left as the term expired 5 May 2015 Left as the term expired
Supervisory Board
Zhang Jingsong Left 5 May 2015 Career moves
Chairman
Zhang Chunming Supervisor Left 17 Apr. 2015 Career moves
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Section IX. 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 35,265,302,750.00 40,172,401,999.00
Settlement reserves 0.00 0.00
Intra-group lendings 0.00 0.00
Financial assets measured by fair value with the changes be included in
0.00 0.00
the current gains and losses
Derivative financial assets 0.00 0.00
Notes receivable 218,474,506.00 501,172,383.00
Accounts receivable 7,394,263,585.00 6,615,762,122.00
Accounts paid in advance 324,688,294.00 150,734,013.00
Premiums receivable 0.00 0.00
Reinsurance premiums receivable 0.00 0.00
Receivable reinsurance contract reserves 0.00 0.00
Interest receivable 241,603,019.00 275,877,747.00
Dividend receivable 0.00 0.00
Other accounts receivable 603,411,448.00 720,716,550.00
Financial assets purchased under agreements to resell 0.00 0.00
Inventories 5,713,761,409.00 4,163,304,029.00
Assets divided available for sale 0.00 0.00
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Non-current assets due within 1 year 0.00 0.00
Other current assets 8,561,271,404.00 6,085,764,454.00
Total current assets 58,322,776,415.00 58,685,733,297.00
Non-current assets:
Loans by mandate and advances granted 0.00 0.00
Available-for-sale financial assets 391,669,279.00 323,530,493.00
Held-to-maturity investments 0.00 0.00
Long-term accounts receivable 0.00 0.00
Long-term equity investment 658,876,472.00 638,819,435.00
Investing property 1,240,587,632.00 1,251,820,763.00
Fixed assets 48,184,498,059.00 49,398,396,189.00
Construction in progress 28,736,450,388.00 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 2,065,601,239.00 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 310,050,863.00 303,984,682.00
Deferred income tax assets 125,575,848.00 138,779,625.00
Other non-current assets 768,400,273.00 1,420,564,369.00
Total of non-current assets 82,533,212,951.00 77,554,550,180.00
Total assets 140,855,989,366.00 136,240,283,477.00
Current liabilities:
Short-term borrowings 1,730,844,677.00 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 by fair value with the changes be included
0.00 0.00
in the current gains and losses
Derivative financial liabilities 0.00 0.00
Notes payable 374,532,677.00 258,737,884.00
Accounts payable 7,635,913,251.00 6,691,237,683.00
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Accounts received in advance 560,166,338.00 314,712,632.00
Financial assets sold for repurchase 0.00 0.00
Handling charges and commissions payable 0.00 0.00
Employee’s compensation payable 958,619,433.00 1,151,622,921.00
Tax payable 264,262,867.00 318,219,650.00
Interest payable 275,780,996.00 219,407,964.00
Dividend payable 9,651,170.00 8,051,170.00
Other accounts payable 6,494,069,469.00 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 divided available for sale 0.00 0.00
Non-current liabilities due within 1 year 881,030,022.00 15,000,000.00
Other current liabilities 373,827,226.00 290,588,570.00
Total current liabilities 19,558,698,126.00 18,976,953,099.00
Non-current liabilities:
Long-term borrowings 36,049,803,922.00 33,631,104,669.00
Bonds payable 0.00 0.00
Of which: preferred shares 0.00 0.00
Perpetual capital securities 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 2,408,415,114.00 2,441,846,447.00
Deferred income tax liabilities 366,199,375.00 347,949,970.00
Other non-current liabilities 3,553,263,879.00 3,866,566,063.00
Total non-current liabilities 42,394,139,300.00 40,303,924,159.00
Total liabilities 61,952,837,426.00 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
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Perpetual capital securities 0.00 0.00
Capital reserves 39,082,597,284.00 39,084,393,441.00
Less: Treasury stock 277,055,776.00 198,004,581.00
Other comprehensive income 112,148,608.00 40,630,611.00
Specific reserves 0.00 0.00
Surplus reserves 550,734,504.00 503,668,861.00
Provisions for general risks 0.00 0.00
Retained profits 3,338,850,882.00 1,434,745,673.00
Total equity attributable to owners of the Company 78,096,913,076.00 76,155,071,579.00
Minority interests 806,238,864.00 804,334,640.00
Total owners’ equity 78,903,151,940.00 76,959,406,219.00
Total liabilities and owners’ equity 140,855,989,366.00 136,240,283,477.00
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 2,710,568,306.00 8,801,283,810.00
Financial assets measured by fair value with the changes be included in
0.00 0.00
the current gains and losses
Derivative financial assets 0.00 0.00
Notes receivable 1,372,038.00 5,318,912.00
Accounts receivable 76,535,016.00 59,490,497.00
Accounts paid in advance 23,375,410.00 3,995,544.00
Interest receivable 69,462,707.00 131,061,842.00
Dividend receivable 540,784,707.00 88,741,079.00
Other accounts receivable 3,257,738,011.00 1,050,896,232.00
Inventories 5,330,056.00 5,055,934.00
Assets divided available for sale 0.00 0.00
Non-current assets due within 1 year 0.00 0.00
Other current assets 106,704,934.00 97,212,285.00
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Total current assets 6,791,871,185.00 10,243,056,135.00
Non-current assets:
Available-for-sale financial assets 198,570,386.00 166,058,318.00
Held-to-maturity investments 0.00 0.00
Long-term accounts receivable 0.00 0.00
Long-term equity investment 75,027,474,183.00 67,577,417,145.00
Investing property 172,315,450.00 174,907,073.00
Fixed assets 362,875,167.00 360,386,719.00
Construction in progress 523,240,834.00 439,161,911.00
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 467,316,781.00 498,655,457.00
R&D expense 0.00 0.00
Goodwill 0.00 0.00
Long-term deferred expenses 114,970,953.00 107,514,008.00
Deferred income tax assets 0.00 0.00
Other non-current assets 6,769,393.00 12,851,569.00
Total of non-current assets 76,873,533,147.00 69,336,952,200.00
Total assets 83,665,404,332.00 79,580,008,335.00
Current liabilities:
Short-term borrowings 0.00 0.00
Financial liabilities measured by fair value with the changes be included
0.00 0.00
in the current gains and losses
Derivative financial liabilities 0.00 0.00
Notes payable 0.00 0.00
Accounts payable 24,854,519.00 23,725,287.00
Accounts received in advance 452,763,002.00 6,255,398.00
Employee’s compensation payable 98,970,178.00 144,350,801.00
Tax payable 10,570,518.00 32,443,336.00
Interest payable 2,038,106.00 217,750.00
Dividend payable 6,451,171.00 6,451,170.00
Other accounts payable 4,823,688,365.00 4,678,071,031.00
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Liabilities divided available 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 5,419,335,859.00 4,891,514,773.00
Non-current liabilities:
Long-term borrowings 3,818,923,200.00 670,000,000.00
Bonds payable 0.00 0.00
Of which: preferred shares 0.00 0.00
Perpetual capital securities 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 74,929,485.00 90,395,075.00
Deferred income tax liabilities 0.00 0.00
Other non-current liabilities 0.00 0.00
Total non-current liabilities 3,893,852,685.00 760,395,075.00
Total liabilities 9,313,188,544.00 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 capital securities 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 105,163,423.00 72,651,355.00
Specific reserves 0.00 0.00
Surplus reserves 550,734,504.00 503,668,861.00
Retained profits 464,777,016.00 41,186,231.00
Total owners’ equity 74,352,215,788.00 73,928,098,487.00
Total liabilities and owners’ equity 83,665,404,332.00 79,580,008,335.00
3. Consolidated income statement
Unit: RMB Yuan
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Item Jan.-Jun. 2015 Jan.-Jun 2014
I. Total operating revenues 22,970,848,112.00 16,113,171,584.00
Including: Sales income 22,970,848,112.00 16,113,171,584.00
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 21,082,716,877.00 15,340,525,002.00
Including: Cost of sales 17,509,610,448.00 12,630,118,473.00
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 114,336,421.00 37,970,365.00
Selling and distribution expenses 532,688,703.00 481,663,833.00
Administrative expenses 2,252,419,046.00 1,698,855,995.00
Financial expenses 176,341,089.00 106,739,572.00
Asset impairment loss 497,321,170.00 385,176,764.00
Add: Gain/(loss) from change in fair value (―-‖ means loss) 0.00 0.00
Gain/(loss) from investment (―-‖ means loss) 64,659,150.00 6,924,389.00
Including: share of profits in associates and joint ventures 10,557,037.00 4,390,960.00
Foreign exchange gains (―-‖ means loss) 0.00 0.00
III. Business profit (―-‖ means loss) 1,952,790,385.00 779,570,971.00
Add: non-operating income 424,771,458.00 548,360,205.00
Of which: gains from non-current asset disposal 1,481,675.00 1,072,418.00
Less: non-operating expense 13,347,411.00 9,012,209.00
Of which: losses from non-current asset disposal 9,248,574.00 2,964,174.00
IV. Total profit (―-‖ means loss) 2,364,214,432.00 1,318,918,967.00
Less: Income tax expense 411,060,664.00 156,020,200.00
V. Net profit (―-‖ means loss) 1,953,153,768.00 1,162,898,767.00
Attributable to owners of the Company 1,951,170,852.00 1,041,635,714.00
Minority shareholders’ income 1,982,916.00 121,263,053.00
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
VI. After-tax net amount of other comprehensive incomes 71,443,148.00 -27,145,356.00
After-tax net amount of other comprehensive incomes attributable to
71,517,997.00 -27,145,356.00
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
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
71,517,997.00 -27,145,356.00
gains 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
72,615,730.00 -28,432,703.00
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 -1,097,733.00 1,287,347.00
6. Other 0.00 0.00
After-tax net amount of other comprehensive incomes attributable to
-74,849.00 0.00
minority shareholders
VII. Total comprehensive incomes 2,024,596,916.00 1,135,753,411.00
Attributable to owners of the Company 2,022,688,849.00 1,014,490,358.00
Attributable to minority shareholders 1,908,067.00 121,263,053.00
VIII. Earnings per share
(I) Basic earnings per share 0.055 0.050
(II) Diluted earnings per share 0.055 0.050
For the business combination under the same control of the current period, the net profits realized before the combination of the
combined party were of RMB 000 and the net profits realized of the combined party of the last period were of RMB 000.
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.-Jun. 2015 Jan.-Jun 2014
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
I. Total sales 395,131,526.00 394,606,138.00
Less: cost of sales 65,325,004.00 56,752,883.00
Business taxes and surcharges 5,608,886.00 3,096,694.00
Distribution expenses 1,674,119.00 1,132,622.00
Administrative expenses 466,597,959.00 354,310,649.00
Financial costs -74,073,299.00 -28,061,118.00
Impairment loss 0.00 0.00
Add: gain/(loss) from change in fair value (―-‖ means loss) 0.00 0.00
Gain/(loss) from investment (―-‖ means loss) 465,346,985.00 6,582,590.00
Of which: income form investment on associates and joint ventures 10,557,037.00 4,049,161.00
II. Business profit (―-‖ means loss) 395,345,842.00 13,956,998.00
Add: non-business income 75,382,251.00 14,162,919.00
Of which: gains from non-current asset disposal 24,000.00 2,100.00
Less: non-business expense 71,665.00 85,328.00
Of which: losses from non-current asset disposal 1,555.00 1,935.00
III. Total profit (―-‖ means loss) 470,656,428.00 28,034,589.00
Less: income tax expense 0.00 0.00
IV. Net profit (―-‖ means loss) 470,656,428.00 28,034,589.00
V. After-tax net amount of other comprehensive incomes 32,512,068.00 -22,042,649.00
(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
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
32,512,068.00 -22,042,649.00
gains 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
32,512,068.00 -22,042,649.00
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 0.00 0.00
6. Other 0.00 0.00
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
VI. Total comprehensive incomes 503,168,496.00 5,991,940.00
VII. Earnings per share
(I) Basic earnings per share 0.013 0.001
(II) Diluted earnings per share 0.013 0.001
5. Consolidated cash flow statement
Unit: RMB Yuan
Item Jan.-Jun. 2015 Jan.-Jun 2014
I. Cash flows from operating activities:
Cash received from sale of commodities and rendering of service 22,930,542,755.00 17,820,222,805.00
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 dispose of the financial assets measured by fair value
0.00 0.00
with the changes be included in the 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 1,552,640,958.00 696,134,294.00
Other cash received relating to operating activities 822,344,215.00 678,900,597.00
Subtotal of cash inflows from operating activities 25,305,527,928.00 19,195,257,696.00
Cash paid for goods and services 14,687,024,246.00 12,914,791,942.00
Net increase of customer lendings and advances 0.00 0.00
Net increase of funds deposited in the central bank and amount due
0.00 0.00
from 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 2,722,826,479.00 1,823,070,067.00
Various taxes paid 905,519,911.00 421,384,320.00
Other cash payment relating to operating activities 1,536,765,804.00 782,370,865.00
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Subtotal of cash outflows from operating activities 19,852,136,440.00 15,941,617,194.00
Net cash flows from operating activities 5,453,391,488.00 3,253,640,502.00
II. Cash flows from investing activities:
Cash received from withdrawal of investments 3,721,672,760.00 0.00
Cash received from return on investments 44,876,285.00 3,411,262.00
Net cash received from disposal of fixed assets, intangible assets and
1,358,403.00 363,662.00
other 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 820,946,320.00 402,699,692.00
Subtotal of cash inflows from investing activities 4,588,853,768.00 406,474,616.00
Cash paid to acquire fixed assets, intangible assets and other long-term
10,480,124,471.00 9,255,316,417.00
assets
Cash paid for investment 5,662,064,789.00 6,000,461.00
Net increase of pledged loans 0.00 0.00
Net cash paid to acquire subsidiaries and other business units 0.00 534,815,100.00
Other cash payments relating to investing activities 16,928,514.00 16,591,152.00
Subtotal of cash outflows from investing activities 16,159,117,774.00 9,812,723,130.00
Net cash flows from investing activities -11,570,264,006.00 -9,406,248,514.00
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 9,068,701,432.00 12,045,540,367.00
Cash received from issuance of bonds 0.00 0.00
Other cash received relating to financing activities 0.00 48,165,983.00
Subtotal of cash inflows from financing activities 9,068,701,432.00 42,846,407,040.00
Repayment of borrowings 6,579,675,703.00 10,518,896,513.00
Cash paid for interest expenses and distribution of dividends or profit 673,357,186.00 755,323,762.00
Including: dividends or profit paid by subsidiaries to minority
0.00 0.00
shareholders
Other cash payments relating to financing activities 116,385,019.00 968,166,397.00
Sub-total of cash outflows from financing activities 7,369,417,908.00 12,242,386,672.00
Net cash flows from financing activities 1,699,283,524.00 30,604,020,368.00
IV. Effect of foreign exchange rate changes on cash and cash equivalents -77,675,858.00 43,545,868.00
V. Net increase in cash and cash equivalents -4,495,264,852.00 24,494,958,224.00
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
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 32,009,442,308.00 40,969,934,073.00
6. Cash flow statement of the Company
Unit: RMB Yuan
Item Jan.-Jun. 2015 Jan.-Jun 2014
I. Cash flows from operating activities:
Cash received from sale of commodities and rendering of service 95,679,936.00 73,929,641.00
Tax refunds received 0.00 698,357.00
Other cash received relating to operating activities 1,023,436,526.00 691,284,156.00
Subtotal of cash inflows from operating activities 1,119,116,462.00 765,912,154.00
Cash paid for goods and services 140,067,732.00 101,533,737.00
Cash paid to and for employees 271,101,912.00 213,401,635.00
Various taxes paid 30,543,680.00 21,738,682.00
Other cash payment relating to operating activities 301,950,992.00 209,045,481.00
Subtotal of cash outflows from operating activities 743,664,316.00 545,719,535.00
Net cash flows from operating activities 375,452,146.00 220,192,619.00
II. Cash flows from investing activities:
Cash received from retraction of investments 0.00 0.00
Cash received from return on investments 193,252.00 3,373,429.00
Net cash received from disposal of fixed assets, intangible assets and
24,000.00 67,400.00
other long-term assets
Net cash received from disposal of subsidiaries or other business units 0.00
Other cash received relating to investing activities 137,529,798.00 15,236,429.00
Subtotal of cash inflows from investing activities 137,747,050.00 18,677,258.00
Cash paid to acquire fixed assets, intangible assets and other long-term
57,579,111.00 66,256,870.00
assets
Cash paid for investment 7,457,064,789.00 12,001,000,461.00
Net cash paid to acquire subsidiaries and other business units 0.00 6,834,815,100.00
Other cash payments relating to investing activities 457,828.00 93,996.00
Subtotal of cash outflows from investing activities 7,515,101,728.00 18,902,166,427.00
Net cash flows from investing activities -7,377,354,678.00 -18,883,489,169.00
III. Cash Flows from Financing Activities:
Cash received from capital contributions 0.00 30,752,700,690.00
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Cash received from borrowings 3,149,242,200.00 0.00
Cash received from issuance of bonds 0.00
Other cash received relating to financing activities 0.00 0.00
Subtotal of cash inflows from financing activities 3,149,242,200.00 30,752,700,690.00
Repayment of borrowings 0.00 0.00
Cash paid for interest expenses and distribution of dividends or profit 9,665,367.00 215,500,000.00
Other cash payments relating to financing activities 2,148,923,200.00 236,267,369.00
Sub-total of cash outflows from financing activities 2,158,588,567.00 451,767,369.00
Net cash flows from financing activities 990,653,633.00 30,300,933,321.00
IV. Effect of foreign exchange rate changes on cash and cash equivalents -316,325.00 16,425.00
V. Net increase in cash and cash equivalents -6,011,565,224.00 11,637,653,196.00
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 2,660,311,365.00 13,340,123,956.00
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
7. Consolidated Statement of Changes in Owners’ Equity
Jan.-Jun. 2015
Unit: RMB Yuan
Jan.-Jun. 2015
Equity attributable to owners of the Company
Other equity instruments
Item Minority Total owners’
Other General
Perpetual Less: treasury Specific
Share capital Capital reserve comprehensive Surplus reserve risk Retained profit interests equity
Preferred
capital Other stock reserve
shares income reserve
securities
I. Balance at
the end of the 35,289,637,574.00 0.00 0.00 0.00 39,084,393,441.00 198,004,581.00 40,630,611.00 0.00 503,668,861.00 0.00 1,434,745,673.00 804,334,640.00 76,959,406,219.00
previous year
Add:
change of
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
accounting
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 0.00 0.00 0.00
previous
periods
Business
combination
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
under the same
control
Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
II. Balance at 35,289,637,574.00 0.00 0.00 0.00 39,084,393,441.00 198,004,581.00 40,630,611.00 0.00 503,668,861.00 0.00 1,434,745,673.00 804,334,640.00 76,959,406,219.00
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
the
period-begin
III. Increase/
decrease in the
period (―-‖ 0.00 0.00 0.00 0.00 -1,796,157.00 79,051,195.00 71,517,997.00 0.00 47,065,643.00 0.00 1,904,105,209.00 1,904,224.00 1,943,745,721.00
means
decrease)
(I) Total
amount of the
0.00 0.00 0.00 0.00 0.00 0.00 71,517,997.00 0.00 0.00 0.00 1,951,170,852.00 1,908,067.00 2,024,596,916.00
comprehensive
income
(II) Capital
paid in and
0.00 0.00 0.00 0.00 -1,796,157.00 79,051,195.00 0.00 0.00 0.00 0.00 0.00 1,796,157.00 -79,051,195.00
reduced by
owners
1. Common
shares
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
invested by the
shareholders
2. Capital
invested by the
owners of 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
other equity
instruments
3. Amounts of
share-based
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
payments
recognized in
64
2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
owners’ equity
4. Others 0.00 0.00 0.00 0.00 -1,796,157.00 79,051,195.00 0.00 0.00 0.00 0.00 0.00 1,796,157.00 -79,051,195.00
(III) Profit
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 47,065,643.00 0.00 -47,065,643.00 -1,800,000.00 -1,800,000.00
distribution
1.
Appropriations
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 47,065,643.00 0.00 -47,065,643.00 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 0.00 0.00 0.00
to general risk
provisions
3.
Appropriations
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -1,800,000.00 -1,800,000.00
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 0.00 0.00 0.00
(IV)
Internal
carry-forward 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
of owners’
equity
1. 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 0.00 0.00 0.00
share capital)
from capital
public reserves
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
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 0.00 0.00 0.00
share 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 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 0.00 0.00 0.00
(V) Specific
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
reserve
1. Withdrawn
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
for the period
2. Used in the
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
period
(VI) Other 0.00 0.00 0.00 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 0.00 0.00 0.00 39,082,597,284.00 277,055,776.00 112,148,608.00 0.00 550,734,504.00 0.00 3,338,850,882.00 806,238,864.00 78,903,151,940.00
balance
Jan.-Jun. 2014
Unit: RMB Yuan
Jan.-Jun. 2014
Equity attributable to owners of the Company
Item Total owners’
Other equity instruments Other General
Less: treasury Specific Minority interests
Share capital Capital reserve comprehensive Surplus reserve risk Retained profit equity
Preferred Perpetual Other stock reserve
income reserve
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
shares capital
securities
I. Balance at
the end of the 13,521,542,341.00 0.00 0.00 0.00 15,347,919,192.00 0.00 6,068,123.00 0.00 499,092,613.00 0.00 -1,122,806,908.00 9,902,448,043.00 38,154,263,404.00
previous year
Add:
change of
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
accounting
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 0.00 0.00 0.00
previous
periods
Business
combination
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
under the same
control
Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
II. Balance at
the 13,521,542,341.00 0.00 0.00 0.00 15,347,919,192.00 0.00 6,068,123.00 0.00 499,092,613.00 0.00 -1,122,806,908.00 9,902,448,043.00 38,154,263,404.00
period-begin
III. Increase/
decrease in the
period (―-‖ 21,768,095,233.00 0.00 0.00 0.00 23,736,474,249.00 198,004,581.00 34,562,488.00 0.00 4,576,248.00 0.00 2,557,552,581.00 -9,098,113,403.00 38,805,142,815.00
means
decrease)
(I) Total
0.00 0.00 0.00 0.00 0.00 0.00 34,562,488.00 0.00 0.00 0.00 2,562,128,829.00 153,859,989.00 2,750,551,306.00
amount of the
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
comprehensive
income
(II) Capital
paid in and
21,768,095,233.00 0.00 0.00 0.00 23,728,718,567.00 198,004,581.00 0.00 0.00 0.00 0.00 0.00 -9,239,251,750.00 36,059,557,469.00
reduced by
owners
1. Common
shares
21,768,095,233.00 0.00 0.00 0.00 23,116,609,820.00 0.00 0.00 0.00 0.00 0.00 0.00 44,884,705,053.00
invested by the
shareholders
2. Capital
invested by the
owners of 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
other equity
instruments
3. Amounts of
share-based
payments 0.00 0.00 0.00 0.00 612,108,747.00 0.00 0.00 0.00 0.00 0.00 0.00 -9,225,017,444.00 -8,612,908,697.00
recognized in
owners’ equity
4. Others 0.00 0.00 0.00 0.00 0.00 198,004,581.00 0.00 0.00 0.00 0.00 0.00 -14,234,306.00 -212,238,887.00
(III) Profit
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4,576,248.00 0.00 -4,576,248.00 -12,721,642.00 -12,721,642.00
distribution
1.
Appropriations
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4,576,248.00 0.00 -4,576,248.00 0.00 0.00
to surplus
reserves
2. 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Appropriations
to general risk
provisions
3.
Appropriations
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -12,721,642.00 -12,721,642.00
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 0.00 0.00 0.00
(IV)
Internal
carry-forward 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
of owners’
equity
1. 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 0.00 0.00 0.00
share capital)
from capital
public 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 0.00 0.00 0.00
share 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 0.00 0.00 0.00
making up
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2015 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 0.00 0.00 0.00
(V) Specific
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
reserve
1. Withdrawn
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
for the period
2. Used in the
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
period
(VI) Other 0.00 0.00 0.00 0.00 7,755,682.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 7,755,682.00
IV. Closing
35,289,637,574.00 0.00 0.00 0.00 39,084,393,441.00 198,004,581.00 40,630,611.00 0.00 503,668,861.00 0.00 1,434,745,673.00 804,334,640.00 76,959,406,219.00
balance
8. Statement of changes in owners’ equity of the Company
Jan.-Jun. 2015
Unit: RMB Yuan
Jan.-Jun. 2015
Other equity instruments
Other
Item Less: treasury Specific Total owners’
Perpetual
Share capital Preferred Capital reserve comprehensive Surplus reserve Retained profit
capital Other stock reserve equity
shares income
securities
I. Balance at the end of
35,289,637,574.00 0.00 0.00 0.00 38,218,959,047.00 198,004,581.00 72,651,355.00 0.00 503,668,861.00 41,186,231.00 73,928,098,487.00
the previous year
Add: change of
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
accounting 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 0.00
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
previous periods
Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
II. Balance at the
35,289,637,574.00 0.00 0.00 0.00 38,218,959,047.00 198,004,581.00 72,651,355.00 0.00 503,668,861.00 41,186,231.00 73,928,098,487.00
period-begin
III. Increase/ decrease in
the period (―-‖ means 0.00 0.00 0.00 0.00 0.00 79,051,195.00 32,512,068.00 0.00 47,065,643.00 423,590,785.00 424,117,301.00
decrease)
(I) Total amount of the
0.00 0.00 0.00 0.00 0.00 0.00 32,512,068.00 0.00 0.00 470,656,428.00 503,168,496.00
comprehensive income
(II) Capital paid in
0.00 0.00 0.00 0.00 0.00 79,051,195.00 0.00 0.00 0.00 0.00 -79,051,195.00
and reduced by owners
1. Common shares
invested by the 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
shareholders
2. Capital invested by
the owners of other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
equity instruments
3. Amounts of
share-based payments
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
recognized in owners’
equity
4. Others 0.00 0.00 0.00 0.00 0.00 79,051,195.00 0.00 0.00 0.00 0.00 -79,051,195.00
(III) Profit distribution 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 47,065,643.00 -47,065,643.00 0.00
1. Appropriations to
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 47,065,643.00 -47,065,643.00 0.00
surplus reserves
2. Appropriations to
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
general risk provisions
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
3. Appropriations to
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
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 0.00
(IV) 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 0.00
equity
1. New increase of
capital (or share capital)
0.00 0.00 0.00 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 0.00 0.00 0.00
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 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 0.00
(V) Specific reserve 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
1. Withdrawn for the
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
period
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 0.00
(VI) Other 35,289,637,574.00 0.00 0.00 0.00 38,218,959,047.00 277,055,776.00 105,163,423.00 0.00 550,734,504.00 464,777,016.00 74,352,215,788.00
Jan.-Jun. 2014
Unit: RMB Yuan
Jan.-Jun. 2014
Item Other equity instruments Less: treasury Other Specific Total owners’
Share capital Capital reserve Surplus reserve Retained profit
Preferred Perpetual Other stock comprehensive reserve equity
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
shares capital income
securities
I. Balance at the end of
13,521,542,341.00 0.00 0.00 0.00 15,094,593,545.00 0.00 71,205,088.00 0.00 499,092,613.00 -809,388,608.00 28,377,044,979.00
the previous year
Add: change of
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
accounting 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 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 0.00
II. Balance at the
13,521,542,341.00 0.00 0.00 0.00 15,094,593,545.00 0.00 71,205,088.00 0.00 499,092,613.00 -809,388,608.00 28,377,044,979.00
period-begin
III. Increase/ decrease in
the period (―-‖ means 21,768,095,233.00 0.00 0.00 0.00 23,124,365,502.00 198,004,581.00 1,446,267.00 0.00 4,576,248.00 850,574,839.00 45,551,053,508.00
decrease)
(I) Total amount of the
0.00 0.00 0.00 0.00 0.00 0.00 1,446,267.00 0.00 0.00 855,151,087.00 856,597,354.00
comprehensive income
(II) Capital paid in and
21,768,095,233.00 0.00 0.00 0.00 23,116,609,820.00 198,004,581.00 0.00 0.00 0.00 0.00 44,686,700,472.00
reduced by owners
1. Common shares
invested by the 21,768,095,233.00 0.00 0.00 0.00 23,116,609,820.00 198,004,581.00 0.00 0.00 0.00 0.00 44,686,700,472.00
shareholders
2. Capital invested by the
owners of other equity 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
instruments
3. Amounts of
share-based payments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
recognized in owners’
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
equity
4. Others 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
(III) Profit distribution 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4,576,248.00 -4,576,248.00 0.00
1. Appropriations to
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4,576,248.00 -4,576,248.00 0.00
surplus reserves
2. Appropriations to
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
general risk provisions
3. Appropriations to
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
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 0.00
(IV) 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 0.00
equity
1. New increase of
capital (or share capital)
0.00 0.00 0.00 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 0.00 0.00 0.00
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 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 0.00
(V) Specific reserve 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
1. Withdrawn for the
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
period
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
2. Used in the period 0.00 0.00 0.00 0.00 7,755,682.00 0.00 0.00 0.00 0.00 0.00 7,755,682.00
(VI) Other 35,289,637,574.00 0.00 0.00 0.00 38,218,959,047.00 198,004,581.00 72,651,355.00 0.00 503,668,861.00 41,186,231.00 73,928,098,487.00
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
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 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 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
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
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.
Through the approval from the 2014 2nd Extraordinary General Meeting held on 14 Aug. 2014, the Company repurchased part of the
issued social public shares by the way of centralized competitive trading in SZSE within 12 months since the resolution date and
completed the first repurchase on 26 Sep. 2014. Up to 30 Jun. 2015, the Company had repurchased 136,569,831 shares.
The Company and its subsidiaries (hereinafter referred to as ―the Group‖) divided into three main business group: display devices
business, intelligent system products and wisdom health services.
In 2015, the Company included BOE Technology Europe GmbH and Chongqing BOE Display Lighting Co., Ltd. into the
consolidated scope, and for the relevant information please refer to Notes IX, Equities among other entities and Notes VIII, Changes
of the consolidated scope.
IV. Basis for preparation of financial statements
1. Basis for the preparation
The financial statements have been prepared on the basis of going concern.
2. Continuing operations
The continuing operations ability of the Company was favorable.
V. Significant accounting policies and estimates
Reminder of the specific accounting policies and estimates:
Naught
1. Statement of Compliance with the Accounting Standards for Business Enterprises
The financial statements have been prepared in accordance with the requirements of Accounting Standards for Business Enterprises
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
issued by the Ministry of Finance (MOF) . These financial statements present truly and completely the consolidated financial position
and financial position as of 30 Jun. 2015, the consolidated results of operations and results of operations and the consolidated cash
flows and cash flows in the first half year of 2015 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 2014.
2. Accounting period
The accounting year of the Group is from 1 January to 31 December.
3. Operating cycle
The Company regarded the period from purchasing the assets for processing to realizing the cash or cash equivalents as the normal
operating cycle. The operating cycle of the main business of the Company usually is less than 12 months.
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 foreign currency financial statement of subsidiaries when compiling the financial statement.
The currency where the overseas subsidiaries and their main economic circumstances of the operation involved is the functional
currency. Renminbi is the bookkeeping base currency when preparing the financial statements for the reporting period.
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
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
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, 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.
In a business combination not under same control realized by two or more transactions of exchange, for the equities of the purchasees
held before the purchase date, the Group will execute the remeasurement according to the fair value of the equity on the purchase
date with the difference between the fair value and its book value be recorded in the current investment income. The other
comprehensive income which could be reclassified in the gains and losses afterwards and the changes of the equities of the other
owners under the measurement of the equity method that involved with the afterwards equity of the purchasees held before the
purchase date should be transferred in the current investment income.
6. Preparation methods for consolidated financial statements
(1) General principle
The scope of consolidated financial statements is determined on the base of control, which comprise the Company and its
subsidiaries. The term ―control‖ is the power of the Group upon an investee, with which it can take part in relevant activities of the
investee to obtain variable returns and is able to influence the amount of returns. When judging whether the Group owns the right on
the investees or not, the Group only consider the substantive rights related to the investees (including the substantive rights enjoyed
by the Group itself and by the other parties). 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.
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 extent that there is no evidence of impairment.
(2) Acquiring the subsidiaries from merger
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
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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.
(3) Disposing the subsidiaries
Where the control of former subsidiary was lost, 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.
Where the Group losses control on its original subsidiaries due to step by step disposal of equity investments through multiple
transactions, should judge whether is the package deal according to the following principles:
- These deals are at the same time or under the condition of considering the influence of each other to concluded;
- These transactions only when be regarded as a whole could achieve a complete business result;
- The occurrence of a deal depends on at least one other transactions；
- A deal alone is not economical, it is economical with other trading together.
If each deal not belongs to a package deal, as for each deal before losing the control right on the subsidiaries, should be disposed
according to the accounting policies of partly disposing the equity investment of the subsidiaries under the situation not losing the
control right.
If each deal belongs to a package deal, considered as a transaction and conduct accounting treatment, however, before losing control,
the differences between every disposal cost and the shares of the book value of the corresponding net assets continuously calculated
since the purchase date of the subsidiary of disposal investment are confirmed as other comprehensive income in consolidated
financial statements, which together transferred into the current profits and losses in the lose of control , when the Group losing
control on its subsidiary.
(4) Changes of the equities of the minority shareholders
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.
7. Classification of joint arrangements and accounting treatment of joint operations
A joint arrangement refers to an arrangement jointly controlled by two participants or above and all the participants are both
restricted by the arrangement; and two or more participants execute the jointly control on the arrangement. Any of the participant
should not individually control the arrangement, while any of the participant that owns the jointly control could stop other
participants or the participants group from individually control the arrangement.
Joint arrangements divided into joint operations and joint ventures. A joint operation refers to a joint arrangement where the
participant party enjoys assets and has to bear liabilities related to the arrangement. A joint venture refers to a joint arrangement
where the participant party is only entitled to the net assets of the arrangement.
The participant party should confirm the following items related to the interests portion among the jointly operation and execute the
accounting treatment according to the regulations of the relevant ASBE: recognizes the assets and liabilities that it holds and bears in
the joint operation, and recognizes the jointly-held assets and jointly-borne liabilities according to the Group’s stake in the joint
operation; recognizes the income from sale of the Group’s share in the output of the joint operation; recognizes the income from sale
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of the joint operation’s outputs according to the Group’s stake in it; and recognizes the expense solely incurred to the Group and the
expense incurred to the joint operation according to the Group’s stake in it.
8. Recognition standard for cash and cash equivalents
In the Group’s understanding, cash and cash equivalents include cash on hand, any deposit that can be used for cover, and short-term
and high circulating investments, which are easily convertible into known amount of cash and whose risks in change of value are
minimal.
9. Foreign currency businesses and translation of foreign currency financial statements
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.
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.
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.
10. Financial instruments
Financial instruments comprise monetary funds, bonds investment, equity investment other than long-term equity investment,
receivables, payables, borrowings and share capital, etc.
(1) Recognition and measurement of the financial assets and financial liabilities
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
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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
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.
(2) Presentation of finanical assets and financial liabilities
The financial assets and financial liablities are respectively presentated in the balance sheet without mutual offset. However, for those
simultaneously meet with the following conditions, should be presentated in the balance sheet by the net amnount after mutual offset:
-The Group owns the legal right of neutralizing the recognized amount and the right is executable at present:
-The Group plans to settle by the net amount or to realize the financial assets and to clear off the financial liabilities at the same time.
(3) Derecognition of finanical assets and financial liabilities
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.
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The Group derecognizes a financial liability (or part of it) only when the underlying present obligation (or part of it) is discharged.
(4) Impariment of financial assets
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.
For the methods of the impairment of the relevant accounts receivable, please refer to Notes V. 11. The methods of the impairment of
other financial assets are as follows:
– 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
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. However, for the investment on the equity
instruments without any quoted price among the active market with the fair value could not be reliable measured, should not be
reversed.
(5) Equity investments
After the consideration received from issuing the equity instruments by the Company deducted the transaction expenses, should be
recorded in the shareholders’ equities. To repurchase the consideration and transaction expenses paid for the equity instruments and
to decrease the shareholders’ equities.
When repurchasing the shares of the Company, those repurchased shares should be managed as the treasury stocks, and the whole
expenses should be transferred as the treasury stocks cost and at the same time executes the future reference registration. The treasury
stocks would not participate in the profits distribution and would be represented as the allowance items of the shareholders’ equities
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among the sheet balance.
When executing the written-off of the treasury stocks, should decrease the share capital according to the total amount of the face
value of the stocks and for the part that the cost of the treasury stocks exceeds the total amount of the face value, should successively
write down the capital surplus (capital stock premium), earned surplus and retained earnings; for the cost of the treasury stocks less
than the total amount of the face value, the part that lower than the total amount of the face value should increase the capital surplus
(capital stock premium).
When transferring the treasury stocks, for the part of the revenues of the transfer that higher than the cost of the treasury stocks,
should increase the capital surplus (capital stock premium); for the part that lower than the cost of the treasury stocks, should
successively write down the capital surplus (capital stock premium), earned surplus and retained earnings.
(6) Convertible instruments
– Convertible instruments
For the convertible instruments issued by the Group which could be converted as the equity shares and when converting, the shares
number and the amount of the consideration are fixed, the Group consider which as the compound instruments that includes the
components of liabilities and equities.
When executing the initial recognition, the Group spilts the relevant liabilities and equities and firstly recognizes the fair value of the
liabilities (including the fair value of the non-equity embedded derivative possibly included) then deducts the fair value of the
liabilities component from the fair value of the compound instruments as the value of the equities component as well as record which
in the equities component. The transaction expenses occurred from issuing the compound instruments, should amortize which
according to each proportion of the total issuance price between the liabilities component and the equities component.
After the initial recognition, for the liabilities component without appointed to be measured by fair value and to be recorded in the
current gains and losses with the changes, should be measured by the effective interest method according to the amortized cost. And
the equities component would not be remeasured after the initial measurement.
When converting the convertible instruments, the Group transfers the liabilities component and the equities component to the
relevant subjects. When the convertible instruments are redeemed, the price paid and the occurred transaction expenses should be
distributed to the equities and liabilities component. The methods of the distribution price and the transaction expenses are
unanimous with the distribution methods adopt when issuing the instruments. After the distribution of the price and transaction
expenses, for the differences between which and the book value of the equities component and between the book value of the
liabilities component, the part related to the equities component should be recorded in the equity while the part related to the
liabilities component should be recorded in the gains and losses.
– Other convertible instruments excluding the equities component
For the other convertible instruments excluding the equities component issued by the Group, when executing the initial recognition,
the derivative instruments component of the convertible instruments should be measured by fair value while the remained part should
be regarded as the initial recognized amount of the main debt instruments.
After the initial recognition, for the derivative instruments component, should be measured by fair value, and the gains or losses
formed from the changes of the fair value should be recorded in the current gains and losses. As for the main debt instruments,
should be measured by the effective interest rate according to the amortized cost.
When converting the convertible instruments, the Group transfers the main debt instruments and derivative instruments to the
relevant subjects. When the convertible instruments are redeemed, the deference between the paid price and the book value of the
main debt instruments as well as the derivative instruments should be recorded in the gains and losses.
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11. Receivables
(1) Accounts receivable with significant single amount for which the bad debt provision is made
individually
Judgement basis or monetary standards of provision
for bad debts of the individually significant Accounts receivable with the single amount of more than RMB 50,000,000
accounts receivable
On balance sheet day, the impairment test is carried on individually for the
individually significant receivables; if it is impaired after the impairment test,
Method of individual provision for bad debts of the the Company provides provision for impairment loss for the amount which is
individually significant accounts receivable 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 which the bad debt provision is withdrawn by credit risk characteristics
Name of portfolios Bad debt provision method
Portfolio of credit risk Other method
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
Withdrawal proportion for accounts Withdrawal proportion for other accounts
Name of the group
receivable receivable
Portfolio of credit risk 0.00% 0.00%
(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
Reason of individually
impairment test is carried on individually for the individually insignificant receivables; if it is
withdrawing bad debt
impaired after the impairment test, the Company provides provision for impairment loss for the
provision:
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
Withdrawal method for bad
difference between the asset's carrying amount and the present value of estimated future cash flows,
debt provision:
and withdraws relevant bad debt provision.
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12. Inventory
(1) Classification and cost of inventories
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.
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.
(2) Pricing method for outgoing inventories
Cost of inventories is calculated using the weighted average method.
Revolving materials such as the low priced and easily worn articles and the packing materials should be amortized by adopting
one-time amortization method and be recorded in the cost of the relevant assets or the current gains and losses.
(3) Recognition basis of net realizable value and withdrawal method of depreciation reserves for inventories
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:
The Group maintains a perpetual inventory system.
13. Divided as assets held for sale
The Group should divide the non-current assets which simultaneously meet with the following conditions as the assets held for sale.
The disposal group refers to an asset group concurrently be disposed through selling or other methods as an entirety in a transaction
and the liabilities directly related to the assets from the transfer among the transaction.
– The assets could be immediately sold only according to the usual terms of selling this kind of assets under the current condition;
– The Group had made resolutions on disposing the non-current assets;
– The enterprises had signed the irrevocable assignment agreement with the transferees; and the transfer will be completed within 1
year.
When the non-current assets be divided as assets held for sale, the Group measures the non-current assets held for sale, deferred
income tax assets and the investment properties be follow-up measured by the fair value mode according to the lower one between
the book value and the fair value after deducting the net amount of the disposal expenses, while the deference that the book value
higher than the fair value which deducted the disposal expenses should be recognized as the impairment losses of the assets.
The fixed assets and intangible assets be divided as assets held for sale and the investment properties be follow-up measured by the
cost mode would not be withdrawn, depreciated or amortized, while the long-term equity investment be divided as assets held for
sale that measured by equity method should cease the equity method measurement.
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14. Long-term equity investments
(1) Recognition of the investment cost of the long-term equity investment
(a) Investments in subsidiaries
– 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 the long-term equity investment of the subsidiaries
formed from the enterprise merger under the same control that realized step by step of the multiple transaction not belong to package
deal, the Company would adjust the capital stock premium among the capital surplus according to the difference between the initial
investment cost of the long-term equity investment recognized according to the above principles and the sum of the book value of the
long-term equity investment before reaching the merger and the book value of the newly paid consideration which be further
received on the merger date, and 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 of the long-term equity investment
(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.
For the impairment test methods and the withdrawal methods of the impairment of the investment of the subsidiaries, please refer to
the Notes V. 20.
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
The joint enterprise refers to an arrangement that the Group and other joint operation parties execute jointly control and only enjoy
the rights of their own net assets.
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
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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. As for the other changes of the owners’ equities except for the net gains and
losses, other comprehensive income and profits distribution of the joint ventures or associated enterprises (hereinafter referred to as
―changes of other owners’ equities‖), the Group included which in the shareholders’ equities according to the portion ought to be
enjoyed or shared, and at the same time adjust the book value of the long-tern equity investment.
The Group recognizes its share of the investee’s net profits or losses, other comprehensive income and changes of other owners’
equities 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 impairment test methods and the withdrawal methods of the impairment provision of the investment on the joint ventures and
the associated enterprises by the Group, please refer to Notes V. 20.
(3) The basis for determination of joint control or significant influence over investee enterprise
Joint control refers to the control jointly owned on certain arrangement according to relevant agreement and the relevant activities of
the arrangement (which are the activities cause significant influences on the arrangement) could only execute the decision-making
through the unanimous consent of the parties sharing control.
The following evidences shall be considered when determining whether the Group can exercise joint control over an investee:
No single venture 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.
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.
(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
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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, 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.
15. Investment real estates
Measurement mode of investment real estates
Measurement of cost method
Depreciation or amortization method
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-40 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
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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. Fixed assets
(1) Conditions for recognition
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 IX (V) 17. 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) Depreciation methods
Expected net salvage
Category of fixed assets Method Useful life Annual deprecation
value
Housing and building Average method of useful life 20-40 years 10.00% 2.3%-4.9%
Machinery equipments Average method of useful life 3-15 years 10.00% 6%-33.3%
Other equipments Average method of useful life 2-10 years 0.00% 9%-50%
(3) Recognition basis, pricing and depreciation method of fixed assets by finance lease
On the begin date of the lease term, the financing leased assets of the Group should be recorded in the entry value according to the
lower one between the fair value of the leasing assets and the net value of the minimum lease payment, and the minimum lease
payment should be regarded as the entry value of the long-term account payable with the difference be recognized as the
unrecognized financial charges. The Group record the initial direct costs of the financial lease in the leased assets value. If it is
reasonable to be certain that the lessee will obtain the ownership of the leased assets when the lease term expires, the leased assets
shall be fully depreciated within the available age limit. Otherwise, the leased assets shall be fully depreciated over the shorter one of
the lease term or its available age limit. The Group amortizes the unrecognized financial charges by the effective interest rate method
within each period during the lease term and manages according to the principles of the borrowing costs. On the balance sheet date,
the Group will respectively list the difference from the long-term account payable related to the finance lease minuses the
unrecognized financial charges as the long-term liabilities and the long-term liabilities due within 1 year.
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17. 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.。
(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.
18. 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 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.
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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 recognizing the effective interest rate of the borrowings, that means to discount the future cash flow of the
borrowings during the expected duration or the applicable shorter period to be the interest rate used of the recognized amount during
the initial recognition of the borrowings.
During the capitalization period, should capitalize the exchange differences of the principal and the interests of the Foreign currency
specific borrowings and record which in the cost of the assets that meet with the conditions of the capitalization. As for the exchange
differences from the principal and the interests of the other foreign currency borrowings except for the foreign currency specific
borrowings, should be regarded as the financial expenses and included in the current gains and losses.
19. Intangible assets
(1) Pricing method, useful life and impairment test
(a) 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.
(b) 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
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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
(c) 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.
(d) 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 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.
(2) Accounting polices of internal R & D expenses
(a) 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.
(b) 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
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incurred.
20. Impairment of long-term assets
The Group executes the impairment test on the assets with impairment indication and evaluates the recoverable amount of the assets.
Besides, whether there is impairment indication, the Group will evaluate the recoverable amount of the goodwill at the year-end. The
Group will amortize the book value of the good according to the benefit situation in the synergistic effect from the enterprise merger
by the relevant assets group or the combination of the assets group and based on which executes the impairment test of the goodwill.
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. Fair value refers to the price received from selling an asset
or paid for transferring a liability in the orderly transaction on the measurement date by the market participants. When the Group
evaluating the fair value, should consider the characteristics when executing pricing of the relevant assets or liabilities on the
measurement date of the market participants (including the assets conditions and the location, the restrictions of the sales or use of
the assets and so on) as well as adopt the evaluation technology that applicable under the current circumstance and owns adequate
available data and supported by other information. The evaluation technology used mainly including the market method, equity
method and cost method.
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.
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.
21. 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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22. Payroll
(1) Accounting treatment of short-term compensation
During the accounting period of an employee' providing services, the Group recognizes the worker wages, bonuses and the social
insurance charges such as the medical insurance premiums, industrial injury insurance premium and birth insurance premium that the
Group pays according to the specified benchmark and proportion as well as the housing funds as the liabilities and records which in
the current gains and losses or the relevant asset costs.
(2) Accounting treatment of the welfare after demission
Welfare after demission refers to the various of the compensation and welfare provided after the retirement of the employees or after
the labor relation relieved by the enterprise owning to not receiving the service provided by the employees, except for the short-term
compensation and the demission welfare. Specifically divided as defined contribution plans and defined benefit plans. The defined
contribution plans participated by the Group including: the basic endowment insurance and unemployment insurance among the
social security system set up and managed by the government institutions according to the requirements of the relevant Chinese
regulations of the employees of the Group and the corporation pension plan approved and set up by the relevant departments
according to the relevant policies of the state enterprise annuity system. The payment amount of the basic endowment insurance and
the unemployment insurance should be calculated according to the benchmark and the proportion stipulated by the nation. The
enterprise annuity should be withdrawn according to the certain proportion of the total amount of the worker wages of the employees
voluntarily participated in the pension plan. During the accounting period of the employees providing the service, the Company
recognizes the deposited amount as the liabilities and records in the current gains and losses or the relevant asset costs. The Group
not involved with any defined benefit plans.
(3) Accounting treatment of the demission welfare
The Group relieves the labor relations with the employees before the maturity of the labor contracts or puts forward the advice for
compensation for encouraging the employees voluntarily accept the reduction, and recognizes the liabilities caused from the
demission welfare on the earlier date of the followings and at the same time records which in the current gains and losses:
When the Group could not unilaterally withdraw the demission welfare provided owning to the termination of the labor relations or
the reduction advice:
The Group owns specific and formal reorganization plan that concerning the payment of the demission welfare; and the time when
the reorganization plan had been executed or had announced the main content of the plan to the parties influenced by which, then led
all parties formed the rational expectations about the Group is going to execute the reorganization.
(4) Accounting treatment of the welfare of other long-term staffs
The welfare of other long-term staffs refers to the all the employees compensation except for the short-term compensation, welfare
after demission and demission welfare, which including the long-term compensated absences, long-term socisability benefits and
long-term profit sharing plan and so on. The Group not involved with any other long-term employee's welfare.
23. Estimated liabilities
(1) Criteria of estimated liabilities
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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
The estimated liabilities should be executed the initial measurement according to the best estimated number needed to be spent when
caring out the relevant current obligations. As for those with significant influences on the time value of money, the estimated
liabilities should be confirmed according to the amount after the discount of the estimated future cash flow. When recognizing the
best estimated number, the Group comprehensively considers the factors such as the risks, uncertainty and the time value of money
related to the contingencies. There is a contiguous range of the needed expenses and the possibility of various results within the range
is the same and the best estimated number should be recognized according to the mediant within the range; under other circumstance,
the best estimated number should be handled respectively according to the following situations:
If the contingencies involve with a single item, should be recognized according to the most likely happened amount.
If the contingencies involve with various items, should be recognized according to the calculation of various possible results and
the relevant probabilities.
The Group executes the reexamination of the book value of the estimated liabilities on the balance sheet date and adjusts the book
value according to the current best estimated number.
24. Revenue
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.
(1) Selling commodities
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) Providing labour services
The Group confirms amount of rendering services according to received or receivable contract or treaty.
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.
(3) Construction contract revenue
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.
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If the result of the construction contract couldn’t be reliable evaluated, the Group should dispose according to the following 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.
(4) Interest revenue
Interest revenue is recognized according to the calculation of the time of lending monetary capital and the effective interest rate.
(5) Royalty revenue of the intangible assets
Royalty revenue of the intangible assets is recognized according to the charging time and methods agreed by the contracts or the
protocol.
25. Government subsidies
(1) Judgment basis and accounting treatment of government subsidies related to assets
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.
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.
(2) Judgment basis and accounting treatment of government subsidies related to profits
The other government grants except for the assets-related grants that gained by the Group are as the government grants related to the
revenues.
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.
26. Deferred income tax assets/deferred income tax 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
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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.
27. Lease
(1) Accounting treatment 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 IX (V) 16 (3), are depreciated in accordance
with the Group’s depreciation policies described in Note IX (V) 22. 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.
(2) Accounting treatments of financial 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 IX (V) 16 (3) and Note IX (V) 22, 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.
28. Other significant accounting policies and estimates
(1) Related parties
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
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(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
– 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.
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29. Changes in main accounting policies and estimates
(1) Change of accounting policies
□ Applicable √ Inapplicable
(2) Change of main accounting estimates
□ Applicable √ Inapplicable
30. Other
Naught
VI. Taxation
1. Main taxes and tax rate
Category of taxes Tax basis Tax rate
Output VAT is calculated on product sales and taxable services revenue, based on tax
VAT laws. The remaining balance of output VAT, after subtracting the deductible input VAT 6%, 13%, 17%
of the period, is VAT payable.
Consumption tax Naught Naught
Business tax Based on taxable revenue of sales 3%, 5%
City maintenance and
Based on business tax paid and VAT payable 7%, 5%
construction tax
Enterprise income tax Based on taxable revenue 0-25%
Notes of the disclosure situation of the taxpaying bodies with different enterprises income tax rate
Name Income tax rate
Beijing BOE Optoelectronics Technology Co., Ltd. 15%
Chengdu BOE Optoelectronics Technology Co., Ltd. 15%
Hefei BOE Optoelectronics Technology Co., Ltd. 15%
Beijing BOE Display Technology Co., Ltd. 15%
Beijing BOE CHATANI Electronics Co.,Ltd. 15%
Xiamen BOE Electronics Co.,Ltd. 15%
Hefei BOE Display Lighting Co., Ltd. 15%
Hefei Xinsheng Optoelectronics Technology Co., Ltd. 15%
BOE (Hebei) Mobile Display Technology Co., Ltd. 15%
BOE Optical Science and Technology Co., Ltd. 15%
BOE Hyundai LCD (Beijing) Display Technology Co., Ltd. 15%
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Beijing BOE Vacuum Electronics Co., Ltd. 15%
Beijing BOE Semi-conductor Co., Ltd. 15%
Beijing Asahi Electron Glass Co., Ltd. 15%
Beijing BOE Vacuum Technology Co., Ltd. 15%
Beijing BOE Dedicated Display Technology Co., Ltd. 15%
Beijing BOE Energy Technology Co., Ltd. 15%
Beijing BOE Multimedia Technology Co., Ltd. 15%
2. Tax preference
Name of company enjoying the Approval authority, approval document No.
Basis of policy
preferential policy and valid period
Hefei BOE Optoelectronics In accordance with CS [2010] No. On 4 Nov. 2010, Ministry of Finance and
Technology Co., Ltd. 100—Circular on Refund the Closing Retained State Administration of Taxation jointly
Tax Deduction for issued the CS [2010] No. 100, approving to
the Imported Devices VAT of Partial Projects refund the closing retained tax deduction for
jointly issued by Ministry of Finance and State the imported devices VAT of partial projects,
Administration of Taxation, approving to refund such document executed from 1 Dec. 2010.
the closing retained tax deduction for the
imported devices VAT of partial projects.
Beijing BOE Display In accordance with CS [2011] No. On 14 Nov. 2011, Ministry of Finance and
Technology Co., Ltd. 107—Circular on Refund the Closing Retained State Administration of Taxation jointly
Hefei BOE Optoelectronics Tax Deduction for the Procured Equipments issued the CS [2011] No. 107, approving to
Technology Co., Ltd. VAT of IC Enterprises jointly issued by refund the closing retained tax deduction for
Hefei Xinsheng Optoelectronics Ministry of Finance and State Administration of the procured equipments VAT of IC
Technology Co., Ltd. Taxation, approving to refund the closing significant enterprises, such document
retained tax deduction for the procured executed from 1 Jan. 2011.
equipments VAT of IC significant enterprises.
Beijing BOE Display In accordance with CGS [2012] No. 17— On 11 Apr. 2010, the Ministry of Finance and
Technology Co., Ltd. Circular on Relevant Policies about Installed General Administration of Customs jointly
Ordos Yuansheng Optoelectronics Tax Payment for the VAT of Significant issued the CGS [2012] No. 17, approving he
Co., Ltd. Imported Devices of New Flat Panel Display new plat panel display significant enterprises
Items jointly issued by the Ministry of Finance to pay the VAT of imported new devices by
and General Administration of Customs, installment, such document executed from 1
approved the new plat panel display significant Jan. 2011.
enterprises to pay the VAT of imported new
devices by installment.
Beijing BOE Display In Apr. 2012, the Ministry of Finance issued the On 4 Nov. 2012, the Ministry of Finance,
Technology Co., Ltd. CGS [2012] No. 16, stipulating to provide the General Administration of Customs and State
tariff and import VAT exemption and deduction Administration of Taxation jointly issued the
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
for the building materials, auxiliary systems, CS [2012] No. 16, providing the tax
equipment accessories in clean room preferential policy of VAT and tariff for y new
(unavailable from domestic companies) display devices significant imported
imported by new display devices enterprises; enterprises, the valid period of such document
and provide tariff exemption and deduction for 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.
Beijing BOE Optoelectronics In June 2012, the Ministry of Finance issued the On 20 June 2012, the Ministry of Finance, the
Technology Co., Ltd. Document CGS [2012] No. 18 to implement on General Administration of Customs and the
Chengdu BOE Optoelectronics new-typed display device makers, during the State Administration of Taxation jointly
Technology Co., Ltd. period from 1 January 2012 to 31 December issued the Document CS [2012] No. 18 to
Hefei BOE Optoelectronics 2015, a tariff and import VAT exemption or unveil an import VAT and tariff preferential
Technology Co., Ltd. reduction policy for importing decontamination policy to enterprises responsible for
chamber building materials and mating systems, significant new-typed display device projects,
Beijing BOE Display
equipment parts, etc. that the country was unable with a valid term from 1 January 2012 to 31
Technology Co., Ltd.
to produce yet as well as a tariff exemption or December 2015.
reduction policy for importing productive raw
materials and consumables that the country was
unable to produce yet.
Hefei Xinsheng Optoelectronics In Apr. 2013, the Ministry of Finance issued the In Apr. 2013, the Ministry of Finance, General
Technology Co., Ltd. CGS [2013] No. 25, affirmed that Hefei Administration of Customs and State
Ordos Yuansheng Optoelectronics Xingchengguang Electronic Technology Co., Administration of Taxation jointly issued the
Co., Ltd. Ltd. and Ordos Yuansheng Optoelectronics Co., CS [2013] No. 25, providing the tax
Ltd. have the qualification of enjoying the preferential policy of VAT and tariff for y new
enterprise import taxes policies of the new type display devices significant imported
display device production. enterprises, the valid period lasts to the end of
Y2015.
Hefei Xinsheng Optoelectronics As per CGS [2013] No. 63—The Notice of the In September 2013, the Ministry of Finance
Technology Co., Ltd. Ministry of Finance and the General and the General Administration of Customs
Administration of Customs Regarding a Tax jointly issued the Document CGS [2013] No.
Amortization Policy for a Third Batch of 63 to allow enterprises to pay their import
New-Typed Panel Display Device Projects, VAT by installments for the key new
enterprises have been allowed to pay their equipment for significant new-typed panel
import VAT by installments for the key new display device projects, effective from March
equipment for significant new-typed panel 2013.
display device projects.
Chongqing BOE Optoelectronics In Apr. 2014, the Ministry of Finance issued the In Apr. 2014, the Ministry of Finance, General
Technology Co., Ltd. CGS [2014] No. 46, affirmed that Chongqing Administration of Customs and State
BOE Optoelectronics Technology Co., Ltd. have Administration of Taxation jointly issued the
the qualification of enjoying the enterprise CS [2014] No. 46, providing the tax
import taxes policies of the new type display preferential policy of VAT and tariff for y new
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
device production. display devices significant imported
enterprises, the valid period lasts to the end of
Y2015.
3. Other
Naught
VII. Notes on major items in consolidated financial statements of the Company
1. Monetary funds
Unit: RMB Yuan Unit: RMB Yuan
Item Closing balance Opening balance
Cash on hand 266,492.00 318,386.00
Bank deposits 32,009,175,816.00 36,504,388,774.00
Other monetary funds 3,255,860,442.00 3,667,694,839.00
Total 35,265,302,750.00 40,172,401,999.00
Of which: the total amount deposited in
2,162,427,986.00 1,050,839,545.00
overseas
Other notes
Of which: the total amount deposited in overseas was equivalent to RMB 2,098,635,810 (Y2014: RMB 1,050,839,545).
On 30 Jun. 2015, the Company took RMB 789,130,000 and USD 9,347 among the other monetary capital (Y2014: RMB
748,564,299, USD 49,400,000) as the pledge for acquiring the short-term borrowings. The rest of the other monetary capital
equivalent to RMB 2,280,514,181 (Y2014: RMB 2,616,851,940) was the margin deposit for security deposited in the commercial
bank.
2. Notes receivable
(1) Notes receivable listed by category
Unit: RMB Yuan
Item Closing balance Opening balance
Bank acceptance bill 215,349,506.00 500,308,383.00
Commercial acceptance bill 3,125,000.00 864,000.00
Total 218,474,506.00 501,172,383.00
(2) Notes receivable pledged by the Company at the period-end
Unit: RMB Yuan
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Item Amount
Bank acceptance bill 0.00
Commercial acceptance bill 0.00
Total 0.00
(3) Notes receivable which had endorsed by the Company or had discounted and had not due on the
balance sheet date at the period-end
Unit: RMB Yuan
Amount of recognition termination at the Amount of not terminated recognition at
Item
period-end the period-end
Bank acceptance bill 0.00 41,971,249.00
Commercial acceptance bill 0.00 2,185,000.00
Total 0.00 44,156,249.00
(4) Notes transferred to accounts receivable because drawer of the notes fails to executed the contract or
agreement
Unit: RMB Yuan
Amount of the notes transferred to accounts receivable at the
Item
period-end
Commercial acceptance bill 0.00
Total 0.00
Other notes
Naught
3. Accounts receivable
(1) Accounts receivable disclosed by category
Unit: RMB Yuan
Closing balance Opening balance
Book balance Bad debt provision Book balance Bad debt provision
Category Withdra
Book
Proportio wal Proportio Withdrawal Book value
Amount Amount value Amount Amount
n proportio n proportion
n
Accounts receivable
with significant 0.00 0.00% 0.00 0.00% 0.00 0.00 0.00% 0.00 0.00% 0.00
single amount for
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
which bad debt
provision separately
accrued
Accounts receivable
withdrawn bad debt 6,607,9
7,391,44 7,391,449 6,607,941,0
provision according 99.24% 0.00 0.00% 41,006. 99.01% 0.00 0.00%
9,028.00 ,028.00 06.00
to credit risks 00
characteristics
Accounts receivable
with insignificant
single amount for 56,695,9 53,881,3 2,814,557 66,121, 58,300,29 7,821,116.0
0.76% 95.04% 0.99% 88.17%
which bad debt 47.00 90.00 .00 414.00 8.00 0
provision separately
accrued
6,674,0
7,448,14 53,881,3 7,394,263 58,300,29 6,615,762,1
Total 100.00% 0.72% 62,420. 100.00% 0.87%
4,975.00 90.00 ,585.00 8.00 22.00
00
Accounts receivable with significant single amount for which bad debt provision separately accrued at the period-end
□ Applicable √ Inapplicable
In the groups, accounts receivable adopting aging analysis method to accrue 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 accrue bad debt provision:
Unit: RMB Yuan
Name of the Withdrawal method of Basic for recognizing the Closing balance Closing balance of Withdrawal
group the bad bdet provision group the bad debt proportion
by group provision
Credit risks Other method Owns the similar credit 7,391,449,028.00 0 0.00%
portfolio risks characteristics
(2) Accounts receivable withdraw, reversed or collected during the reporting period
The withdrawal amount of the bad debt provision during the reporting period was of RMB 2,276,056.00 the amount of the reversed
or collected part during the reporting period was of RMB 209,780.00.
Of which the significant amount of the reversed or collected part during the reporting period was of RMB 000:
Unit: RMB Yuan
Name of the units Reversed or collected amount Method
Naught
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
(3) The actual write-off accounts receivable
Unit: RMB Yuan
Item Amount
Credit risks portfolio 6,485,184.00
Of which the significant actual write-off accounts receivable:
Unit: RMB Yuan
Whether occurred
Name of the units Nature Amount Reason Process from the related
transactions
Naught
Notes of the write-off the accounts receivable: Naught
(4) Top 5 of the closing balance of the accounts receivable colleted according to the arrears party
The total amount of the accounts receivable of the top 5 of the Group at the year-end was of 3,718,387,687.00 that covered 50% of
the total amount of the closing balance of the accounts receivable at the year-end, which had not withdrawn the corresponding bad
debt provision.
(5) Account receivable which terminate the recognition owning to the transfer of the financial assets
Naught
(6) The amount of the assets and liabilities formed by the transfer and the continues involvement of
accounts receivable
Naught
Other notes: Naught
4. Prepayment
(1) List by aging analysis
Unit: RMB Yuan
Closing balance Opening balance
Aging
Amount Proportion Amount Proportion
Within 1 year 319,797,446.00 98.49% 148,835,790.00 98.74%
1 to 2 years 4,465,958.00 1.38% 1,372,083.00 0.91%
2 to 3 years 206,247.00 0.06% 285,505.00 0.19%
Over 3 years 218,643.00 0.07% 240,635.00 0.16%
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Total 324,688,294.00 -- 150,734,013.00 --
Notes of the reasons of the prepayment ages over 1 year with significant amount but failed settled in time: Naught
(2) Top 5 of the closing balance of the prepayment colleted according to the prepayment target
Unit: RMB Yuan
Name of the Relationship Amount Proportion Reason
units
Unit 1 External supplier 92,886,186.00 29% Both were normal prepayments
Unit 2 External supplier 25,337,278.00 8% Both were normal prepayments
Unit 3 External supplier 10,470,182.00 3% Both were normal prepayments
Unit 4 External supplier 8,490,444.00 3% Both were normal prepayments
Unit 5 External supplier 7,125,338.00 2% Both were normal prepayments
Total -- 144,309,428.00 44% --
Notes: Naught
5. Interest receivable
(1) Category of interest receivable
Unit: RMB Yuan
Item Closing balance Opening balance
Fixed time deposit 241,603,019.00 275,877,747.00
Entrust loans 0.00 0.00
Bond investment 0.00 0.00
Total 241,603,019.00 275,877,747.00
(2) Significant overdue interest
Whether occurred
Borrower Closing balance Overdue time Reason impairment and its
judgment basis
Naught
Notes: Naught
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
6. Dividend receivable
(1) Dividend receivable
Unit: RMB Yuan
Item (or investees) Closing balance Opening balance
Naught
Total 0.00 0.00
(2) Significant dividend receivable aged over 1 year
Unit: RMB Yuan
Whether occurred
Item (or investees) Closing balance Aging Reason impairment and its
judgment basis
Naught
Notes: Naught
7. Other accounts receivable
(1) Other accounts receivable disclosed by category
Unit: RMB Yuan
Closing balance Opening balance
Book balance Bad debt provision Book balance Bad debt provision
Category Withdra
Book
Proportio wal Proportio Withdrawal Book value
Amount Amount value Amount Amount
n proportio n proportion
n
Other accounts
receivable with
significant single
0.00 0.00% 0.00 0.00% 0.00 0.00 0.00% 0.00 0.00% 0.00
amount for which
bad debt provision
separately accrued
Other accounts
receivable withdrawn
603,411, 603,411,4 720,716 720,716,55
bad debt provision 98.56% 0.00 0.00% 98.79% 0.00 0.00%
448.00 48.00 ,550.00 0.00
according to credit
risks characteristics
Other accounts 8,840,19 1.44% 8,840,19 100.00% 0.00 8,818,1 1.21% 8,818,190 100.00% 0.00
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
receivable with 6.00 6.00 90.00 .00
insignificant single
amount for which
bad debt provision
separately accrued
612,251, 8,840,19 603,411,4 729,534 8,818,190 720,716,55
Total 100.00% 1.44% 100.00% 1.21%
644.00 6.00 48.00 ,740.00 .00 0.00
Other accounts receivable with significant single amount for which bad debt provision separately accrued at the period-end
□ Applicable √ Inapplicable
In the groups, other accounts receivable adopting aging analysis method to accrue 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 accrue bad debt provision:
√ Applicable □ Inapplicable
Unit: RMB Yuan
Name of the Withdrawal method of Basic for recognizing the Closing balance Closing balance of Withdrawal
group the bad bdet provision group the bad debt proportion
by group provision
Credit risks Other method Owns the similar credit 603,411,448.00 0 0.00%
portfolio risks characteristics
(2) Accounts receivable withdraw, reversed or collected during the reporting period
The withdrawal amount of the bad debt provision during the reporting period was of RMB 22,006.00；the amount of the reversed or
collected part during the reporting period was of RMB 0.00.
Of which the significant amount of the reversed or collected part during the reporting period:
Unit: RMB Yuan
Name of units Reversed or collected amount Method
Naught
(3) The actual write-off other accounts receivable
Unit: RMB Yuan
Item Amount
Naught
Notes of the significant write-off other accounts receivable:
Unit: RMB Yuan
Name of the units Nature Amount Reason Process Whether from the
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
related transactions
Naught
Notes of write-off other accounts receivable: Naught
(4) Other accounts receivable classified by the nature of accounts
Unit: RMB Yuan
Nature Closing book balance Opening book balance
VAT refunds 152,447,959.00 259,218,524.00
Equity transfer fee of accounts receivable 200,000,000.00 200,000,000.00
Cash deposit and cash pledge 31,695,545.00 29,873,154.00
Other 228,108,140.00 240,443,062.00
Total 612,251,644.00 729,534,740.00
(5) Top 5 of the closing balance of the other accounts receivable colleted according to the arrears party
Unit: RMB Yuan
Proportion of the
total year end Closing balance of
Name of units Nature Closing balance Aging
balance of the bad debt provision
accounts receivable
Equity transfer
Company 1 200,000,000.00 Over 3 years 32.67% 0.00
account
Company 2 Export tax refunds 105,729,002.00 Within 1 year 17.27% 0.00
1 to 2 years; over 3
Company 3 Current account 41,200,000.00 6.73% 0.00
years
Within 1 year; 1 to 2
Unauthorized input
Company 4 30,753,432.00 years; 2 to 3 years; 5.02% 0.00
tax
over 3 years
Company 5 Cash deposit 26,000,000.00 2 to 3 years 4.25% 0.00
Total -- 403,682,434.00 -- 65.93% 0.00
(6) Accounts receivable involved with government subsidies
Unit: RMB Yuan
Project of government Estimated received time,
Name of units Closing balance Closing age
subsidies amount and basis
Naught
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
(7) Other account receivable which terminate the recognition owning to the transfer of the financial assets
Naught
(8) The amount of the assets and liabilities formed by the transfer and the continues involvement of other
accounts receivable
Naught
Other notes: Naught
8. Inventory
(1) Category of inventory
Unit: RMB Yuan
Closing balance Opening balance
Item Falling price Falling price
Book balance Book value Book balance Book value
reserves reserves
Raw materials 1,920,910,589.00 85,155,777.00 1,835,754,812.00 1,427,203,733.00 105,944,450.00 1,321,259,283.00
Goods in process 703,664,811.00 68,147,473.00 635,517,338.00 590,133,599.00 53,862,026.00 536,271,573.00
Inventory goods 3,821,728,051.00 676,519,951.00 3,145,208,100.00 2,749,796,229.00 535,694,180.00 2,214,102,049.00
Turnover
97,404,229.00 123,070.00 97,281,159.00 91,671,124.00 0.00 91,671,124.00
materials
Consumptive
0.00 0.00 0.00 0.00 0.00 0.00
biological assets
Completed
unsettled assets
formed from the 0.00 0.00 0.00 0.00 0.00 0.00
construction
contacts
Total 6,543,707,680.00 829,946,271.00 5,713,761,409.00 4,858,804,685.00 695,500,656.00 4,163,304,029.00
(2) Falling price reserves of inventory
Unit: RMB Yuan
Increased amount Decreased amount
Item Opening balance Reverse or Closing balance
Withdrawal Other Other
write-off
Raw materials 105,944,450.00 63,850,756.00 0.00 84,639,429.00 0.00 85,155,777.00
Goods in process 53,862,026.00 43,244,119.00 0.00 28,958,672.00 0.00 68,147,473.00
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Inventory goods 535,694,180.00 569,734,595.00 0.00 428,908,824.00 0.00 676,519,951.00
Turnover
0.00 123,070.00 0.00 0.00 0.00 123,070.00
materials
Consumptive
0.00 0.00 0.00 0.00 0.00 0.00
biological assets
Completed
unsettled assets
formed from the 0.00 0.00 0.00 0.00 0.00 0.00
construction
contacts
Total 695,500,656.00 676,952,540.00 0.00 542,506,925.00 0.00 829,946,271.00
9. Assets divided as held-to-sold
Unit: RMB Yuan
Estimated disposal
Item Closing book value Fair value Estimated disposal time
expense
Naught
Other notes: Naught
10. Non-current assets due within 1 year
Unit: RMB Yuan
Item Closing balance Opening balance
Naught
Total 0.00 0.00
Other notes: Naught
11. Other current assets
Unit: RMB Yuan
Item Closing balance Opening balance
VAT to be deducted 4,079,958,976.00 3,533,043,636.00
Pre-paid Income tax 122,870.00 17,603,629.00
Finance products 4,468,870,003.00 2,520,714,295.00
Other 12,319,555.00 14,402,894.00
Total 8,561,271,404.00 6,085,764,454.00
Other notes: Naught
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
12. Available-for-sale financial assets
(1) List of available-for-sale financial assets
Unit: RMB Yuan
Closing balance Opening balance
Item Depreciation Depreciation
Book balance Book value Book balance Book value
reserves reserves
Available-for-sale
0.00 0.00 0.00 0.00 0.00 0.00
liabilities instruments:
Available-for-sale equity
541,948,934.00 150,279,655.00 391,669,279.00 473,810,148.00 150,279,655.00 323,530,493.00
instruments:
Measured by fair
477,012,823.00 150,099,655.00 326,913,168.00 416,524,662.00 150,099,655.00 266,425,007.00
value
Measured by cost 64,936,111.00 180,000.00 64,756,111.00 57,285,486.00 180,000.00 57,105,486.00
Total 541,948,934.00 150,279,655.00 391,669,279.00 473,810,148.00 150,279,655.00 323,530,493.00
(2) Available-for-sale financial assets measured by fair value at the period-end
Unit: RMB Yuan
Category of the
Available-for-sale equity Available-for-sale liabilities
available-for-sale financial Total
instruments instruments
assets
Cost of the equity
instruments/amortized cost of 344,902,961.00 0.00 344,902,961.00
the liabilities instruments
Fair value 326,913,168.00 0.00 326,913,168.00
Changes amount of the fair
value accumulatively recorded 132,109,862.00 0.00 132,109,862.00
in other comprehensive income
Withdrawn impairment amount 150,099,655.00 0.00 150,099,655.00
(3) Available-for-sale financial assets measured by cost at the period-end
Unit: RMB Yuan
Book balance Impairment provision Shareholdi Cash
ng bonus of
Investee Period-beg Period-beg proportion the
Increase Decrease Period-end Increase Decrease Period-end
in in among the reporting
investees period
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Teralane
11,868,000 11,868,000
Semicond 0.00 0.00 0.00 0.00 0.00 0.00 7.29% 0.00
.00 .00
uctor Inc
Zhejiang
570,032.00 0.00 0.00 570,032.00 0.00 0.00 0.00 0.00 7.03% 0.00
BOE
Beijing
Digital TV
National
6,250,000. 6,250,000.
Engineerin 0.00 0.00 0.00 0.00 0.00 0.00 12.50% 0.00
00 00
g
Laboratory
Co., Ltd.
Meta 30,733,954 30,733,954
0.00 0.00 0.00 0.00 0.00 0.00 7.24% 0.00
Company .00 .00
Danhua
7,683,500. 7,650,625. 15,334,125
Capital, L. 0.00 0.00 0.00 0.00 0.00 5.48% 0.00
00 00 .00
P.
Other 180,000.00 0.00 0.00 180,000.00 180,000.00 0.00 0.00 180,000.00 0.00% 0.00
57,285,486 7,650,625. 64,936,111
Total 0.00 180,000.00 0.00 0.00 180,000.00 -- 0.00
.00 00 .00
(4) Changes of the impairment of the available-for-sale financial assets during the reporting period
Unit: RMB Yuan
Category of the
Available-for-sale equity Available-for-sale liabilities
available-for-sale financial Total
instruments instruments
assets
Withdrawn impairment balance
150,279,655.00 0.00 150,279,655.00
at the period-begin
Withdrawn amount of the period 0.00 0.00 0.00
Of which: transferred from other
0.00 0.00 0.00
comprehensive income
Decreased in the period 0.00 0.00 0.00
Of which: recovered and
reversed amount of the fair 0.00 0.00 0.00
value after the period
Withdrawn impairment balance
150,279,655.00 0.00 150,279,655.00
at the period-end
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
(5) Relevant notes of the fair value of the available-for-sale equity instruments which seriously fell or
temporarily fell but not withdrawn the impairment provision
Unit: RMB Yuan
Item of
Falling range of Withdrawn Reason of not
available-for-sale Fair value of the Continued falling
Investment cost the fair value amount of withdrawn the
equity period-end time (month)
against the cost impairment impairment
instruments
Naught
Other notes: Naught
13. Investment held-to-maturity
(1) List of investment held-to-maturity
Unit: RMB Yuan
Closing balance Opening balance
Item Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Convertible
bonds for HYDIS 17,960,946.00 17,960,946.00 0.00 17,960,946.00 17,960,946.00 0.00
Technology
Total 17,960,946.00 17,960,946.00 0.00 17,960,946.00 17,960,946.00 0.00
(2) Significant held-to-maturity investment at the period-end
Unit: RMB Yuan
Bond item Par value Nominal interest rate Actual interest rate Due date
Naught
(3) Re-classified held-to-maturity investment during the reporting period
Naught
Other 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. 2015, 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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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
14. Long-term equity investment
Unit: RMB Yuan
Increase/decrease
Closing
Adjustment Cash bonus or
Gains and losses Withdrawal of Closing balance of
Investees Opening balance Additional Reduced of other Changes of profits
recognized under the impairment Other balance impairment
investment investment comprehensi other equity announced to
equity method provision provision
ve income issue
I. Joint ventures
II. Associated enterprises
Beijing Nissin
Electronics Precision
787,850.00 0.00 0.00 4,360,963.00 0.00 0.00 0.00 0.00 0.00 5,148,813.00 0.00
Component Co., Ltd.
(Nissin Electronics)
Beijing Nittan
Electronics Co., Ltd. 26,604,013.00 0.00 0.00 2,223,450.00 0.00 0.00 0.00 0.00 0.00 28,827,463.00 0.00
(Nittan Electronics)
Beijing Yingfei
Hailin Venture
Capital Management 131,573.00 0.00 0.00 875,311.00 0.00 0.00 0.00 0.00 0.00 1,006,884.00 0.00
Co., Ltd. (Yingfei
Hailin)
Ordos BOE Energy
Investment Co., Ltd. 907,476,536.0 337,612,177.0
907,483,229.00 0.00 0.00 -6,693.00 0.00 0.00 0.00 0.00 0.00
(BOE Energy 0 0
Investment)
Beijing Fly Hailin
26,731,396.00 0.00 0.00 -2,006,764.00 0.00 0.00 0.00 0.00 0.00 24,724,632.00 0.00
Investment Center
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
TPV Display
Technology (China) 14,693,551.00 0.00 0.00 5,129,349.00 0.00 0.00 0.00 0.00 0.00 19,822,900.00 0.00
Co., Ltd.
Fuzhou BOE
9,500,000.0
Optoelectronics 0.00 0.00 -18,579.00 0.00 0.00 0.00 0.00 0.00 9,481,421.00 0.00
0
Technology Co., Ltd.
9,500,000.0 996,488,649.0 337,612,177.0
Subtotal 976,431,612.00 0.00 10,557,037.00 0.00 0.00 0.00 0.00 0.00
0 0 0
9,500,000.0 996,488,649.0 337,612,177.0
Total 976,431,612.00 0.00 10,557,037.00 0.00 0.00 0.00 0.00 0.00
0 0 0
Other notes: Naught
15. Investment property
(1) Investment property adopted the cost measurement mode
√ Applicable □ Inapplicable
Unit: RMB Yuan
Item Houses and buildings Land use right construction in progress Total
I. Original book value
1. Opening balance 838,438,988.00 659,779,216.00 0.00 1,498,218,204.00
2. Increased amount of the period 5,416,799.00 0.00 0.00 5,416,799.00
(1) Outsourcing 0.00 0.00 0.00 0.00
(2) Transfer of inventory\fixed assets\project under construction 5,416,799.00 0.00 0.00 5,416,799.00
(3) Increased from enterprise merger 0.00 0.00 0.00 0.00
3. Decreased amount of the period 0.00 0.00 0.00 0.00
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
(1) Disposal 0.00 0.00 0.00 0.00
(2) Other transfer 0.00 0.00 0.00 0.00
4. Closing balance 843,855,787.00 659,779,216.00 0.00 1,503,635,003.00
II. Accumulative depreciation and accumulative amortization
1.Opening balance 174,662,880.00 71,734,561.00 0.00 246,397,441.00
2. Increased amount of the period 10,306,517.00 6,343,413.00 0.00 16,649,930.00
(1) Withdrawal or amortization 10,306,517.00 6,343,413.00 0.00 16,649,930.00
3. Decreased amount of the period 0.00 0.00 0.00 0.00
(1) Disposal 0.00 0.00 0.00 0.00
(2) Other transfer 0.00 0.00 0.00 0.00
4. Closing balance 184,969,397.00 78,077,974.00 0.00 263,047,371.00
III. Depreciation reserves 0.00 0.00 0.00 0.00
1.Opening balance 0.00 0.00 0.00 0.00
2. Increased amount of the period 0.00 0.00 0.00 0.00
(1) Withdrawal 0.00 0.00 0.00 0.00
3. Decreased amount of the period 0.00 0.00 0.00 0.00
(1) Disposal 0.00 0.00 0.00 0.00
(2) Other transfer 0.00 0.00 0.00 0.00
4. Closing balance 0.00 0.00 0.00 0.00
IV. Book value
1. Closing book value 658,886,390.00 581,701,242.00 0.00 1,240,587,632.00
2. Opening book value 663,776,108.00 588,044,655.00 0.00 1,251,820,763.00
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
(2) Investment property adopted fair value measurement mode
□ Applicable √ Inapplicable
16. Fixed assets
(1) List of fixed assets
Unit: RMB Yuan
Item Plant &buildings Equipment Others Total
I. Original book value
1. Opening balance 14,182,678,253.00 57,622,804,472.00 359,349,156.00 72,164,831,881.00
2. Increased amount of the period 544,050,804.00 1,782,554,448.00 110,900,285.00 2,437,505,537.00
(1) Purchase 19,787,576.00 132,797,809.00 16,599,843.00 169,185,228.00
(2) Transfer of project under construction 524,263,228.00 1,649,520,856.00 94,300,442.00 2,268,084,526.00
(3) Increased from enterprise merger 0.00 235,783.00 0.00 235,783.00
3. Decreased amount of the period 46,161.00 163,891,424.00 3,527,260.00 167,464,845.00
(1) Disposal or scrap 46,161.00 148,619,397.00 2,409,976.00 151,075,534.00
4. Closing balance 14,726,682,896.00 59,241,467,496.00 466,722,181.00 74,434,872,573.00
II. Accumulative depreciation
1.Opening balance 1,560,835,053.00 20,394,357,685.00 147,414,673.00 22,102,607,411.00
2. Increased amount of the period 271,207,612.00 3,295,846,867.00 38,966,663.00 3,606,021,142.00
(1) Withdrawal 271,207,612.00 3,295,846,867.00 32920591.00 3,599,975,070.00
3. Decreased amount of the period 0.00 112,502,749.00 3,355,469.00 115,858,218.00
(1) Disposal or scrap 0.00 112,502,749.00 3,355,469.00 115,858,218.00
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
4. Closing balance 1,832,042,665.00 23,577,701,803.00 183,025,867.00 25,592,770,335.00
III. Depreciation reserves 0.00 0.00 0.00 0.00
1.Opening balance 1,073,381.00 662,722,006.00 32,894.00 663,828,281.00
2. Increased amount of the period 2,944,708.00 0.00 4,941,303.00 7,886,011.00
(1) Withdrawal 2944708.00 0.00 4941303.00 7,886,011.00
3. Decreased amount of the period 0.00 14,025,989.00 84,124.00 14,110,113.00
(1) Disposal or scrap 0.00 14,025,989.00 84,124.00 14,110,113.00
4. Closing balance 4,018,089.00 648,696,017.00 4,890,073.00 657,604,179.00
IV. Book value
1. Closing book value 12,890,622,142.00 35,015,069,676.00 278,806,241.00 48,184,498,059.00
2. Opening book value 12,620,769,819.00 36,565,724,781.00 211,901,589.00 49,398,396,189.00
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
(2) List of temporarily idle fixed asset
Unit: RMB Yuan
Accumulative Impairment
Item Original book value Book value Notes
depreciation provision
Naught
(3) Fixed assets leased in from financing lease
Unit: RMB Yuan
Accumulative
Item Original book value Impairment provision Book value
depreciation
Houses and buildings 4,860,855.00 3,215,405.00 0.00 1,645,449.00
(4) Fixed assets leased out from operation leas
Unit: RMB Yuan
Item Closing book value
Naught
(5) Details of fixed assets failed to accomplish certification of property
Unit: RMB Yuan
Item Book value Reason
Naught
Other notes: Naught
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
17. Construction in progress
(1) List of construction in progress
Unit: RMB Yuan
Closing balance Opening balance
Item
Book balance Impairment provision Book value Book balance Impairment provision Book value
The 8.5th Generation TFT-LCD Project of BOE Display 311,275,005.00 0.00 311,275,005.00 553,302,360.00 0.00 553,302,360.00
Operation, research and development Center 330,927,843.00 0.00 330,927,843.00 274,695,231.00 0.00 274,695,231.00
AM-OLED Project of Yuansheng Optoelectronics 9,516,061,897.00 0.00 9,516,061,897.00 9,162,623,595.00 0.00 9,162,623,595.00
The 8.5th Generation TFT-LCD Project of Hefei
3,319,673,710.00 0.00 3,319,673,710.00 3,906,050,826.00 0.00 3,906,050,826.00
Xinsheng and the touchscreen project
P6 project of the expansion of BOE Optoelectronics 16,465,816.00 0.00 16,465,816.00 40,397,835.00 0.00 40,397,835.00
The 8.5th Generation TFT-LCD Project of Chongqing
14,451,400,983.00 0.00 14,451,400,983.00 7,103,041,619.00 0.00 7,103,041,619.00
BOE
Other 791,956,590.00 1,311,456.00 790,645,134.00 829,841,200.00 1,311,456.00 828,529,744.00
Total 28,737,761,844.00 1,311,456.00 28,736,450,388.00 21,869,952,666.00 1,311,456.00 21,868,641,210.00
(2) Changes of significant construction in progress
Unit: RMB Yuan
Proporti Capita
Of which: the
Amount that Other on Accumulative lizatio
Increased amount of the Capital
transferred to decreased estimate Project amount of n rate
Name o f item Estimated number Opening balance amount of the Closing balance capitalized resource
fixed assets of amount of the d of the progress capitalized of the
period interests of the s
the period period project interests interes
period
accumul ts of
122
2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
ative the
input period
The 8.5th Self-fin
Generation ancing
TFT-LCD 29,262,860,000.00 553,302,360.00 155,140,934.00 397,168,289.00 0.00 311,275,005.00 84.00% 84.00% 651,239,090.00 and
Project of borrowin
BOE Display gs
Operation,
research and Self-fin
435,000,000.00 274,695,231.00 56,232,612.00 0.00 0.00 330,927,843.00 80.00% 80.00% 0.00 0.00
development ancing,
Center
AM-OLED Self-fin
Project of ancing,
Yuansheng 9,516,061,897.0 borrowin
20,500,000,000.00 9,162,623,595.00 378,467,061.00 0.00 25,028,759.00 48.00% 48.00% 441,962,943.00 76,244,138.00 5.27%
Optoelectroni 0 gs and
cs Capital-r
aising r
The 8.5th
Generation
Self-fin
TFT-LCD
ancing,
Project of
1,171,242,000.0 3,319,673,710.0 borrowin
Hefei 33,897,000,000.00 3,906,050,826.00 584,864,884.00 0.00 70.00% 70.00% 932,592,650.00 101,033.00 3.11%
0 0 gs and
Xinsheng and
Capital-r
the
aising
touchscreen
project
P6 project of
Self-fin
the expansion 108,120,000.00 40,397,835.00 1,432,000.00 25,364,019.00 0.00 16,465,816.00 88.00% 88.00% 0.00 0.00
ancing,
of BOE
123
2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD.
Optoelectroni
cs Technology
The 8.5th Self-fin
Generation ancing,
TFT-LCD 7,910,787,187.0 519,261,353.0 14,451,400,983. 223,278,477.0 borrowin
30,000,000,000.00 7,103,041,619.00 43,166,470.00 26.00% 26.00% 245,797,858.00 4.48%
Project of 0 0 00 0 gs and
Chongqing Capital-r
BOE aising
Other 0.00 829,841,200.00 435,761,049.00 469,183,722.00 4,461,937.00 791,956,590.00 0.00% 0.00% 0.00 0.00 Other
114,202,980,000.0 9,522,685,727.0 2,106,124,500.0 548,752,049.0 28,737,761,844. 2,271,592,541.0 299,623,648.0
Total 21,869,952,666.00 -- -- --
0 0 0 0 00 0 0
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD
(3) List of the withdrawal of the impairment provision of the construction in progress
Unit: RMB Yuan
Item Withdrawn amount Reason
Naught
Other notes:
Naught
18. Intangible assets
(1) Information
Unit: RMB Yuan
Item Land use right Patent Non-patents Software Total
I. Total original
book value
1. Opening balance 1,019,618,912.00 520,195,356.00 1,006,133,623.00 534,171,311.00 3,080,119,202.00
2. Increase in the
0.00 1,198,063.00 304,668.00 13,745,677.00 15,248,408.00
reporting period
(1) Purchase 0.00 1,198,063.00 304,668.00 13,745,677.00 15,248,408.00
(2) Internal R &D 0.00 0.00 0.00 0.00 0.00
(3) Increase from
enterprise 0.00 0.00 0.00 0.00 0.00
combination
3. Decrease in the
0.00 0.00 0.00 0.00 0.00
reporting period
(1) Purchase 0.00 0.00 0.00 0.00 0.00
4. Closing balance 1,019,618,912.00 521,393,419.00 1,006,438,291.00 547,916,988.00 3,095,367,610.00
II. Total accrued
amortization
1. Opening balance 88,512,122.00 119,201,638.00 449,709,106.00 263,714,367.00 921,137,233.00
2. Increase in the
10,172,573.00 33,973,090.00 35,926,626.00 28,085,396.00 108,157,685.00
reporting period
(1) Withdrawal 10,172,573.00 33,973,090.00 35,926,626.00 28,085,396.00 108,157,685.00
3. Decrease in the
0.00 0.00 0.00 0.00 0.00
reporting period
(1) Disposal 0.00 0.00 0.00 0.00 0.00
4. Closing balance 98,684,695.00 153,174,728.00 485,635,732.00 291,799,763.00 1,029,294,918.00
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD
III. Total impairment
provision
1. Opening balance 0.00 0.00 0.00 471,453.00 471,453.00
2. Increase in the
0.00 0.00 0.00 0.00 0.00
reporting period
(1) Withdrawal 0.00 0.00 0.00 0.00 0.00
3. Decrease in the
0.00 0.00 0.00 0.00 0.00
reporting period
(1) Disposal 0.00 0.00 0.00 0.00 0.00
4. Closing balance 0.00 0.00 0.00 471,453.00 471,453.00
IV. Total book value
of intangible assets
1. Book value of the
920,934,217.00 368,218,691.00 520,802,559.00 255,645,772.00 2,065,601,239.00
period-end
2. Book value of the
931,106,790.00 400,993,718.00 556,424,517.00 269,985,491.00 2,158,510,516.00
period-begin
The proportion the intangible assets formed from the internal R&D through the Company amount the balance of the intangible assets
at the period-end was 0.00%.
(2) Details of fixed assets failed to accomplish certification of land use right
Unit: RMB Yuan
Item Book value Reason
Naught
Other notes: Naught
19. Goodwill
(1) Original book value of goodwill
Unit: RMB Yuan
Name of the investees or the events formed
Opening balance Increase Decrease Closing balance
goodwill
Beijing Yinghe Century Co., Ltd. 42,940,434.00 0.00 0.00 0.00 0.00 42,940,434.00
K-Tronics (Suzhou) Technology Co., Ltd 8,562,464.00 0.00 0.00 0.00 0.00 8,562,464.00
Beijing BOE Optoelectronics Technology Co., Ltd. 4,423,876.00 0.00 0.00 0.00 0.00 4,423,876.00
Total 55,926,774.00 0.00 0.00 0.00 0.00 55,926,774.00
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD
(2) Impairment provision of goodwill
Unit: RMB Yuan
Name of the investees or the events formed goodwill Opening balance Increase Decrease Closing balance
Beijing BOE Optoelectronics Technology Co., Ltd. 4,423,876.00 0.00 0.00 0.00 0.00 4,423,876.00
Total 4,423,876.00 0.00 0.00 0.00 0.00 4,423,876.00
Notes of the testing process of goodwill impairment, parameters and the recognition method of goodwill impairment losses:
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.
Other notes: Naught
20. Long-term unamortized expenses
Unit: RMB Yuan
Item Opening balance Increase Amortization amount Decrease Closing balance
Cost of operating lease assets
11,954,227.00 0.00 849,877.00 0.00 11,104,350.00
improvement
Cost of construction and use of
159,553,685.00 0.00 7,685,112.00 0.00 151,868,573.00
public facilities
Other 132,476,770.00 33,473,390 18,872,220 0.00 147,077,940
Total 303,984,682.00 33,473,390 27,407,209 0.00 310,050,863
Other notes: Naught
21. Deferred income tax assets/deferred income tax liabilities
(1) Deferred income tax assets had not been off-set
Unit: RMB Yuan
Closing balance Opening balance
Item Deductible temporary Deferred income Deductible temporary Deferred income tax
difference tax assets difference assets
Assets impairment provision 168,773,461.00 42,066,768.00 169,685,860.00 42,223,368.00
Unrealized profits of the
0.00 0.00 0.00 0.00
internal transactions
Deductible losses 136,619,056.00 34,154,764.00 185,140,308.00 46,285,077.00
Differences of depreciation and
23,677.00 3,553.00 23,677.00 3,553.00
amortization
Assessment of value-added to 161,549,307.00 40,387,327.00 164,326,226.00 41,081,557.00
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD
the investment of Yinghe
Century
Employee payroll payable 591,429.00 100,543.00 1,901,035.00 323,177.00
Other 35,451,577.00 8,862,893.00 35,451,577.00 8,862,893.00
Total 503,008,507.00 125,575,848.00 556,528,683.00 138,779,625.00
(2) Deferred income tax liabilities had not been off-set
Unit: RMB Yuan
Closing balance Opening balance
Item Deductible temporary Deferred income tax Deductible temporary Deferred income tax
difference liabilities difference liabilities
Asset evaluation increment of
the enterprise merger not under 937,394,208.00 234,348,552.00 950,655,360.00 237,663,840.00
the same control
Changes of the fair value of the
available-for-sale financial 0.00 0.00 0.00 0.00
assets
Difference of the depreciation
297,124,928.00 44,568,739.00 154,002,972.00 23,100,446.00
amortization
Finance products 21,492,740.00 3,223,911.00 20,714,295.00 3,127,511.00
Long-term equity investment 560,387,820.00 84,058,173.00 560,387,820.00 84,058,173.00
Total 1,816,399,696.00 366,199,375.00 1,685,760,447.00 347,949,970.00
(3) Deferred income tax assets or liabilities listed by net amount after off-set
Unit: RMB Yuan
Mutual set-off amount of Amount of deferred Mutual set-off amount of Amount of deferred
deferred income tax income tax assets or deferred income tax income tax assets or
Item
assets and liabilities at liabilities after off-set at assets and liabilities at liabilities after off-set at
the period-end the period-end the period-begin the period-begin
Deferred income tax
0.00 125,575,848.00 0.00 138,779,625.00
assets
Deferred income tax
0.00 366,199,375.00 0.00 347,949,970.00
liabilities
(4) List of unrecognized deferred income tax assets
Unit: RMB Yuan
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Item Closing amount Opening amount
Deductible temporary difference 3,681,644,240 2,945,109,382.00
Deductible losses 1,567,613,417 1,137,178,435.00
Total 5,249,257,657 4,082,287,817.00
(5) Deductible losses of unrecognized deferred income tax assets will due the following years
Unit: RMB Yuan
Years Closing amount Opening amount Note
Y 2015 334,564,948.00 276,900,139.00
Y 2016 239,551,456.00 147,477,751.00
Y 2017 345,700,921.00 303,999,410.00
Y 2018 194,199,145.00 179,737,332.00
Y 2019 177,731,940.00 229,063,803.00
Y 2020 275,865,008.00 0.00
Total 1,567,613,418.00 1,137,178,435.00 --
Other notes: Naught
22. Other non-current assets
Unit: RMB Yuan
Item Closing balance Opening balance
Prepayment for construction 51,597,840.00 115,232,105.00
Prepayment for procurement of fixed assets 417,169,101.00 804,249,999.00
The VAT collection of imported equipment 66,293,839.00 485,986,004.00
Other 233,339,493.00 15,096,261.00
Total 768,400,273.00 1,420,564,369.00
Other notes: N/A
23. Short-term loans
(1) Category of short-term loans
Unit: RMB Yuan
Item Closing balance Opening balance
Pledge loan 976,606,990.00 1,046,392,788.00
Mortgage loan 30,000,000.00 30,000,000.00
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Guarantee loan 0.00 0.00
Credit loan 724,237,687.00 1,082,595,812.00
Total 1,730,844,677.00 2,158,988,600.00
Other notes: N/A
(2) List of the short-term loans overdue but not return
The total amount of the overdue but not return short-term borrowings at the period-end was of RMB 000, of which the situation of
the significant overdue but not return short-term borrowings as follows:
Unit: RMB Yuan
Borrower Closing balance Borrowing rate Overdue time Overdue rate
N/A
Other notes: N/A
24. Notes payable
Unit: RMB Yuan
Category Closing balance Opening balance
Trade acceptance bill 374,532,677.00 258,737,884.00
Bank acceptance bill 0.00 0.00
Total 374,532,677.00 258,737,884.00
The total amount of the due but not pay notes payable at the period-end was of RMB 000.
25. Accounts payable
(1) List of accounts payable
Unit: RMB Yuan
Category Closing balance Opening balance
Related party payable 2,430,806.00 12,976,023.00
Third party payable 7,633,482,445.00 6,678,261,660.00
Total 7,635,913,251.00 6,691,237,683.00
(2) Notes of the accounts payable aging over one year
Unit: RMB Yuan
Name of creditor Amount Unpaid reason
N/A
Other notes: N/A
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26. Advance from customers
(1) List of advance from customers
Unit: RMB Yuan
Category Closing balance Opening balance
Advance from related party 3,823.00 100,928.00
Advance from third party 560,162,515.00 314,611,704.00
Total 560,166,338.00 314,712,632.00
(2) Significant advance from customers aging over one year
Unit: RMB Yuan
Item Closing balance Unpaid/ Un-carry-over reason
N/A
(3) Particulars of settled but unfinished projects formed by construction contract at period-end.
Unit: RMB Yuan
Item Amount
Cost accumulatively occurred 0.00
Gross margin accumulatively recognized 0.00
Less: estimate losses 0.00
Amount had conduct the settlement 0.00
Completed unsettlement project formed by the construction contract 0.00
Other notes: N/A
27. Payroll payable
(1) List of Payroll payable
Unit: RMB Yuan
Item Opening balance Increase Decrease Closing balance
I. Short-term salary 1,101,654,236.00 2,700,240,364.00 2,878,610,364.00 923,284,236.00
II. Post-employment benefit -
34,848,353.00 207,688,173.00 222,321,661.00 20,214,865.00
defined contribution plans
III. Demission welfare 15,120,332.00 1,220,327.00 1,220,327.00 15,120,332.00
IV. Other welfare due within
0.00 0.00 0.00 0.00
one year
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Total 1,151,622,921.00 2,909,148,864.00 3,102,152,352.00 958,619,433.00
(2) List of Short-term salary
Unit: RMB Yuan
Item Opening balance Increase Decrease Closing balance
1. Salary, bonus, allowance, subsidy 888,236,228.00 2,191,416,206.00 2,370,868,697.00 708,783,737.00
2. Employee welfare 0.00 239,595,512.00 239,595,512.00 0.00
3. Social insurance 34,142,462.00 102,001,517.00 103,742,761.00 32,401,218.00
Including: 1. Medical insurance premiums 32,329,441.00 85,483,877.00 87,159,028.00 30,654,290.00
Work-related injury insurance 606,425.00 8,957,904.00 9,094,427.00 469,902.00
Maternity insurance 1,206,596.00 7,559,736.00 7,489,306.00 1,277,026.00
4. Housing fund 11,509,770.00 84,442,872.00 87,223,672.00 8,728,970.00
5. Labor union budget and employee education
158,223,788.00 52,898,574.00 45,475,677.00 165,646,685.00
budget
6. Short-term absence with payment 0.00 0.00 0.00 0.00
7. Employee bonus and welfare fund 7,282,591.00 0.00 0.00 7,282,591.00
8. Other 2,259,397.00 29,885,683.00 31,704,045.00 441,035.00
Total 1,101,654,236.00 2,700,240,364.00 2,878,610,364.00 923,284,236.00
(3) List of drawing scheme
Unit: RMB Yuan
Item Opening balance Increase Decrease Closing balance
1. Basic pension benefits 23,742,078.00 186,514,182.00 193,248,594.00 17,007,666.00
2. Unemployment insurance 1,312,546.00 11,343,383.00 11,551,652.00 1,104,277.00
3. Annuity 9,793,729.00 9,830,608.00 17,521,415.00 2,102,922.00
Total 34,848,353.00 207,688,173.00 222,321,661.00 20,214,865.00
Other notes: N/A
28. Taxes payable
Unit: RMB Yuan
Item Closing balance Opening balance
VAT 3,313,399.00 31,074,915.00
Consumption tax 0.00 0.00
Business tax 2,959,198.00 2,951,913.00
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Corporate income tax 140,824,319.00 166,876,477.00
Personal income tax 14,914,362.00 20,207,177.00
Urban maintenance and construction tax 45,010,147.00 22,602,452.00
Educational surcharges and local educational surcharges 32,155,023.00 16,347,348.00
Other 25,086,419.00 58,159,368.00
Total 264,262,867.00 318,219,650.00
Other notes: N/A
29. Interest payable
Unit: RMB Yuan
Item Closing balance Opening balance
Interest payable on long-term borrowings that interest was paid by stages and principle
273,220,773.00 215,818,523.00
was repay upon due
Interest of corporate bond 0.00 0.00
Interest payable on short-term borrowings 2,560,223.00 3,589,441.00
Interest of preferred stock/perpetual bond classified as financial liabilities 0.00 0.00
Other 0.00 0.00
Total 275,780,996.00 219,407,964.00
Particulars of significant overdue unpaid interest:
Unit: RMB Yuan
Entity Overdue amount Overdue reason
N/A
Other notes: N/A
30. Dividends payable
Unit: RMB Yuan
Item Closing balance Opening balance
Common stock dividends 9,651,170.00 8,051,170.00
Stock dividends of preferred stock/perpetual bond classfied as equity
0.00 0.00
instrument
Other 0.00 0.00
Total 9,651,170.00 8,051,170.00
Note: Including significant unpaid dividends payable over one year, the unpaid reason shall be disclosed:
As of 30 Jun. 2015, 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.
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31. Other accounts payable
(1) Other accounts payable listed by nature of the account
Unit: RMB Yuan
Item Closing balance Opening balance
Engineering and equipment 4,744,843,357.00 5,419,231,049.00
The VAT collection of imported equipment 707,343,191.00 914,032,323.00
Purchase of patent right 178,730,106.00 152,169,522.00
Margin 142,066,534.00 162,396,662.00
Pre-withdrawal water and electricity 145,371,255.00 156,822,593.00
Logistics freight 52,587,459.00 62,611,588.00
External agency fee 12,791,646.00 15,638,959.00
Royalties payment of technology 8,884,378.00 45,467,483.00
Tender offers 177,294,400.00 195,206,440.00
Other 324,157,143.00 426,809,406.00
Total 6,494,069,469.00 7,550,386,025.00
(2) Other significant accounts payable with aging over one year
Unit: RMB Yuan
Item Closing balance Unpaid/ Un-carry-over reason
N/A
Other notes: N/A
32. Non-current liabilities due within 1 year
Unit: RMB Yuan
Item Closing balance Opening balance
Long-term loan due within 1 year 881,030,022.00 15,000,000.00
Bonds payable due within 1 year 0.00 0.00
Long-term accounts payable due within 1 year 0.00 0.00
Total 881,030,022.00 15,000,000.00
Other notes: N/A
33. Other current-liabilities
Unit: RMB Yuan
Item Closing balance Opening balance
Short term bond 0.00 0.00
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Quality assurance deposit 373,827,226.00 290,588,570.00
Total 373,827,226.00 290,588,570.00
Changes on short term bonds payable:
Unit: RMB Yuan
The Withdraw Overflow Pay in
Name of Book Issue Opening Closing
Issue date Period current interest at discount current
the bond value amount balance period
issue par amortization period
N/A
Other notes: N/A
34. Long-term loan
(1) Category of long-term loan
Unit: RMB Yuan
Item Closing balance Opening balance
Pledge loan 22,200,000.00 17,495,000.00
Mortgage loan 31,982,481,142.00 32,099,191,292.00
Guarantee loan 0.00 0.00
Credit loan 4,045,122,780.00 1,514,418,377.00
Total 36,049,803,922.00 33,631,104,669.00
Notes: N/A
Other notes including interest rate range: N/A
35. Accrued liabilities
Unit: RMB Yuan
Closing Opening
Item Formation reasons
balance balance
External guaranty 0.00 0.00
Pending litigation 0.00 0.00
PQA 0.00 0.00
Restructuring obligations 0.00 0.00
Loss contract to be executed 0.00 0.00
In 2009, the Group ceased producing several products and stopped
fulfilling the purchase contract related to production. Due to the
Other 16,457,010.00 16,457,010.00
indemnity incurred accordingly, the Group withdrew the relevant
estimated liabilities according to reasonable estimation of losses.
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Total 16,457,010.00 16,457,010.00 --
Other notes, including related important assumptions and estimates of accrued liabilities:
36. Deferred income
Unit: RMB Yuan
Item Opening balance Increase Decrease Closing balance Formation reasons
Government Government
2,441,846,447.00 200,019,316.00 233,450,649.00 2,408,415,114.00
subsidies subsidies
Total 2,441,846,447.00 200,019,316.00 233,450,649.00 2,408,415,114.00 --
Items involved in government subsidies:
Unit: RMB Yuan
Amount accrued
Amount of newly Related to the
Item Opening balance in non-business Other changes Closing balance
subsidy assets/ income
income
-The 8.5th
Related to the
Generation 848,409,935.00 0.00 70,809,524.00 0.00 777,600,411.00
assets
TFT-LCD Project
-The 6th
Related to the
Generation 215,238,096.00 0.00 34,285,714.00 0.00 180,952,382.00
assets
TFT-LCD Project
-Research
platform of
Related to the
common 6,071,429.00 0.00 1,071,429.00 0.00 5,000,000.00
assets
technology on
panel display
-Contracted for
construction plant Related to the
10,240,000.00 0.00 360,000.00 0.00 9,880,000.00
in industrial zone assets
of Hebei
-Construction of
National
Engineering Related to the
12,142,857.00 0.00 2,142,857.00 0.00 10,000,000.00
Laboratory for assets
TFT-LCD
technology
-Government
grants on other Related to the
1,283,785,303.00 114,910,910.00 89,493,357.00 0.00 1,309,202,856.00
technology assets
project
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Full HD large
size technological
development of
180,000.00 0.00 180,000.00 0.00 0.00 Related to income
TFT-LCD
platform use for
TV
Technological
development of
170,000.00 0.00 170,000.00 0.00 0.00 Related to income
array substrate
integration
-Government
grants on other
65,608,827.00 85,108,406.00 34,937,768.00 0.00 115,779,465.00 Related to income
technology
project
Total 2,441,846,447.00 200,019,316.00 233,450,649.00 0.00 2,408,415,114.00 --
Other notes: N/A
37. Other non-current liabilities
Unit: RMB Yuan
Item Closing balance Opening balance
Convertible obligatory right 3,486,970,040.00 3,380,580,059.00
The VAT of collection of imported equipment 66,293,839.00 485,986,004.00
Total 3,553,263,879.00 3,866,566,063.00
Other notes: N/A
38. Share capital
Unit: RMB Yuan
Increase/decrease (+/-)
Capitalization
Opening balance Newly Closing balance
Bonus shares of public Other Subtotal
issue share
reserves
The sum of
35,289,637,574.00 0.00 0.00 0.00 0.00 0.00 35,289,637,574.00
shares
Other notes: N/A
39. Capital reserves
Unit: RMB Yuan
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Item Opening balance Increase Decrease Closing balance
Capital premium 38,181,665,280.00 0.00 0.00 38,181,665,280.00
Other capital reserves 902,728,161.00 520,303.00 2,316,460.00 900,932,004.00
Total 39,084,393,441.00 520,303.00 2,316,460.00 39,082,597,284.00
Other notes, including changes and reason of change:
40. Treasury stock
Unit: RMB Yuan
Item Opening balance Increase Decrease Closing balance
Shareholder repurchase stock 198,004,581.00 79,051,195.00 0.00 277,055,776.00
Total 198,004,581.00 79,051,195.00 0.00 277,055,776.00
Other notes, including changes and reason of change:
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41. Other comprehensive income
Unit: RMB Yuan
Reporting period
Less: Amount
transferred into profit
and loss in the current
After-tax attribute After-tax attribute Closing
Item Opening balance Amount incurred period that Less: income tax
to the parent to minority balance
before income tax recognized into other expense
company shareholder
comprehensive
income in prior
period
1.Other comprehensive income will be
0.00 0.00 0.00 0.00 0.00 0.00 0.00
reclassified into income or loss in the future
Of which: changes in net assets and liabilities
0.00 0.00 0.00 0.00 0.00 0.00 0.00
of recalculated defined benefit plans
Share of other comprehensive income of
investees measured by the equity method not 0.00 0.00 0.00 0.00 0.00 0.00 0.00
reclassifiable to profit or loss
II. Other comprehensive income reclassified
40,630,611.00 73,546,139.00 0.00 2,102,991.00 71,517,997.00 -74,849.00 112,148,608.00
into profit and loss in future
Of which, shares in other comprehensive
income reclassified into profits or losses in
0.00 0.00 0.00 0.00 0.00 0.00 0.00
future in investee entity under the equity
method
Profits or losses from the change of fair value
89,133,636.00 74,643,872.00 0.00 2,102,991.00 72,615,730.00 -74,849.00 161,749,366.00
of available for sale financial assets
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Gain or loss on reclassification of
held-to-maturity investments to 0.00 0.00 0.00 0.00 0.00 0.00 0.00
available-for-sale financial assets
Effective elements of gain or loss of cash flow
0.00 0.00 0.00 0.00 0.00 0.00 0.00
hedges
Converted amount of foreign currency financial
-48,503,025.00 -1,097,733.00 0.00 0.00 -1,097,733.00 0.00 -49,600,758.00
statements
Total 40,630,611.00 73,546,139.00 0.00 2,102,991.00 71,517,997.00 -74,849.00 112,148,608.00
Other notes, including the adjustment of the recognition of initial amount of effective part of the cash flow hedging gains and losses transfer into arbitraged items:
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42. Surplus reserves
Unit: RMB Yuan
Item Opening balance Increase Decrease Closing balance
Statutory surplus reserves 213,997,552.00 47,065,643.00 0.00 261,063,195.00
Discretional surplus reserves 289,671,309.00 0.00 0.00 289,671,309.00
Reserve fund 0.00 0.00 0.00 0.00
Enterprise development fund 0.00 0.00 0.00 0.00
Other 0.00 0.00 0.00 0.00
Total 503,668,861.00 47,065,643.00 0.00 550,734,504.00
Other note, including changes and reason of change
43. Retained profits
Unit: RMB Yuan
Item Reporting period Same period of last year
Opening balance of retained profits before adjustments 1,434,745,673.00 -1,122,806,908.00
Total of opening balance of retained profits before adjustments
0.00 0.00
(Add +, Less -)
Opening balance of retained profits after adjustments 1,434,745,673.00 -1,122,806,908.00
Add: Net profit attributable to owners of the Company 1,951,170,852.00 1,041,635,714.00
Less: Withdrawal of statutory surplus reserves 47,065,643.00 0.00
Withdrawal of discretional surplus reserves 0.00 0.00
Withdrawal of provision for general risk 0.00 0.00
Dividend of common stock payable 0.00 0.00
Dividend of common stock converted into share capital 0.00 0.00
Closing retained profits 3,338,850,882.00 -81,171,194.00
List of adjustment of opening retained profits:
1) RMB 000 opening retained profits was affected by retrospective adjustment conducted according to the Accounting Standards for
Business Enterprises and relevant new regulations.
2) RMB 000 opening retained profits was affected by changes on accounting policies.
3) RMB 000 opening retained profits was affected by correction of significant accounting errors.
4) RMB 000 opening retained profits was affected by changes in combination scope arising from same control.
5) RMB 000 opening retained profits was affected totally by other adjustments.
44. Revenue and Cost of Sales
Unit: RMB Yuan
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Reporting period Same period of last year
Item
Revenue Cost Revenue Cost
Main operation 21,917,479,361.00 16,736,885,573.00 15,402,900,295.00 12,101,199,679.00
Other operation 1,053,368,751.00 772,724,875.00 710,271,289.00 528,918,794.00
Total 22,970,848,112.00 17,509,610,448.00 16,113,171,584.00 12,630,118,473.00
45. Business tax and surcharges
Unit: RMB Yuan
Item Reporting period Same period of last year
Consumption tax 0.00 0.00
Business tax 16,468,247.00 14,339,614.00
Urban maintenance and construction tax 56,145,938.00 13,605,585.00
Education surtax 40,468,922.00 10,025,166.00
Resources tax 0.00 0.00
Other 1,253,314.00 0.00
Total 114,336,421.00 37,970,365.00
Other notes: N/A
46. Sales expenses
Unit: RMB Yuan
Item Reporting period Same period of last year
Labor cost 134,349,195.00 100,744,554.00
Logistics transport 92,303,114.00 83,833,403.00
Products quality guarantee deposit 161,630,644.00 128,686,529.00
Other 144,405,750.00 168,399,347.00
Total 532,688,703.00 481,663,833.00
Other notes: N/A
47. Administrative expenses
Unit: RMB Yuan
Item Reporting period Same period of last year
Labor cost 586,790,222.00 565,596,273.00
Depreciation and amortization 165,605,068.00 130,944,235.00
Research and development expense 751,855,875.00 462,927,945.00
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Maintenance cost 324,289,194.00 256,644,271.00
Other 423,878,687.00 282,743,271.00
Total 2,252,419,046.00 1,698,855,995.00
Other notes: N/A
48. Financial expenses
Unit: RMB Yuan
Item Reporting period Same period of last year
Interest expenses 757,095,045.00 424,150,685.00
Interest income (incomes: negative) -414,387,936.00 -384,942,552.00
Net amount of exchange loss (gains: negative) -162,626,091.00 58,164,204.00
Other -3,739,929.00 9,367,235.00
Total 176,341,089.00 106,739,572.00
Other notes: N/A
49. Asset impairment loss
Unit: RMB Yuan
Item Reporting period Same period of last year
I. Bad debts losses 2,088,282.00 -4,762,214.00
II. Inventory falling price losses 495,232,888.00 389,938,978.00
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 497,321,170.00 385,176,764.00
Other notes: N/A
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50. Gains on the changes in the fair value
Unit: RMB Yuan
Source Reporting period Same period of last year
Financial assets measured at fair value and changes recorded
0.00 0.00
into current profits or losses
Of which: income from change in fair value of derivative
0.00 0.00
financial instruments
Financial liabilities measured at fair value and changes
0.00 0.00
recorded into current profits or losses
Investment property measured at fair value 0.00 0.00
Total 0.00 0.00
Other notes: N/A
51. Investment income
Unit: RMB Yuan
Item Reporting period Same period of last year
Long-term equity investment income accounted by equity method 10,557,037.00 4,390,960.00
Investment income arising from disposal of long-term equity investments 0.00 0.00
Investment income from financial assets measured at fair value and changes
0.00 0.00
recorded into current profits or losses during holding period
Investment income from disposal of financial assets measured by fair value
0.00 0.00
with changes in fair value recognised in profit or loss
Investment income received from holding of held-to-maturity investments
0.00 0.00
during holding period
Investment income received from available for sale financial assets during
54,102,113.00 2,533,429.00
holding period
Investment income from disposal of available for sale financial assets 0.00 0.00
Investment income from the remaining equity recalculated by fair value after
0.00 0.00
losing control
Total 64,659,150.00 6,924,389.00
Other notes: N/A
52. Non-operating gains
Unit: RMB Yuan
Same period of last Recorded in the amount of the
Item Reporting period
year non-recurring gains and losses
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Total gains from disposal of non-current assets 1,481,675.00 1,072,418.00 1,481,675.00
Including：Gains from disposal of fixed assets 1,481,675.00 1,063,257.00 1,481,675.00
Gains from disposal of intangible assets 0.00 0.00 0.00
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 406,391,203.00 513,933,311.00 406,391,203.00
Other 16,898,580.00 33,354,476.00 16,898,580.00
Total 424,771,458.00 548,360,205.00 424,771,458.00
Government subsidies recorded into current profits and losses
Unit: RMB Yuan
Item Reporting period Same period of last year Related to the assets/ income
Discount on loan for project 26,176,481.00 18,134,285.00 Related to the assets
Government grants on other 171,986,400.00
141,355,204.00 Related to the assets
science and research project
Government grants on other
208,228,322.00 354,443,822.00 Related to the income
science and research project
Total 406,391,203.00 513,933,311.00 --
Other notes: N/A
53. Non-operating expenses
Unit: RMB Yuan
The amount included in the
Item Reporting period Same period of last year current non-recurring gains and
losses
Loss on disposal of non-current assets 9,248,574.00 2,964,174.00 9,248,574.00
Including: Loss on disposal of fixed assets 9,248,574.00 2,964,174.00 9,248,574.00
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 5,000.00 5,000.00
Other 4,093,837.00 6,043,035.00 4,093,837.00
Total 13,347,411.00 9,012,209.00 13,347,411.00
Other notes: N/A
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54. Income tax expense
(1) Lists of income tax expense
Unit: RMB Yuan
Item Reporting period Same period of last year
Current income tax expense 379,607,482.00 142,450,350.00
Deferred income tax expense 31,453,182.00 13,569,850.00
Total 411,060,664.00 156,020,200.00
55. Other comprehensive income
Refer to the notes (41), VII
56. Supplementary information to cash flow statement
(1) Other cash received relevant to operating activities
Unit: RMB Yuan
Item Reporting period Same period of last year
Government grants related to income 198,151,361.00 353,236,009.00
Interest income 103,723,264.00 99,159,654.00
Tender bond / performance bond received 18,220,402.00 52,267,837.00
Exchange earning from carry-forward, repurchase 1,084,048.00 769,518.00
Restrictive deposit in financial institutions recovered 0.00 0.00
Other 501,165,140.00 173,467,579.00
Total 822,344,215.00 678,900,597.00
Notes: N/A
(2) Other cash paid relevant to operating activities
Unit: RMB Yuan
Item Reporting period Same period of last year
Daily spending paid 1,124,698,063.00 706,861,919.00
Exchange income arising from carry-forward, repurchase 0.00 1,156,143.00
Bank service charges 17,745,833.00 27,527,093.00
Cash deposit 16,816,831.00 7,516,752.00
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Restrictive deposit in financial institutions increased 72,862,647.00 0.00
Other 304,642,430.00 39,308,958.00
Total 1,536,765,804.00 782,370,865.00
Notes: N/A
(3) Other cash received relevant to investment activity
Unit: RMB Yuan
Item Reporting period Same period of last year
Interest incomes 349,454,085.00 159,855,821.00
Tender shall / guarantee money for a bid 5,888,410.00 104,879,260.00
Government subsidies related to formation of assets 179,740,000.00 129,635,609.00
Restrictive deposit in financial institutions recovered 278,070,265.00 0.00
Other 7,793,560.00 8,329,002.00
Total 820,946,320.00 402,699,692.00
Notes: N/A
(4) Other cash paid relevant to investment activity
Unit: RMB Yuan
Item Reporting period Same period of last year
Refund on bid/performance bond / safety construction bond 2,709,050.00 15,138,000.00
Restrictive deposit in financial institutions increased 0.00 0.00
Other 14,219,464.00 1,453,152.00
Total 16,928,514.00 16,591,152.00
Notes: N/A
(5) Other cash received relevant to financing activities
Unit: RMB Yuan
Item Reporting period Same period of last year
Interest income arising from deposit of guarantee money 0.00 47,313,117.00
Government subsidy related to project loan discount 0.00 849,000.00
Other 0.00 3,866.00
Total 0.00 48,165,983.00
Notes: N/A
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(6) Other cash paid relevant to financing activities
Unit: RMB Yuan
Item Reporting period Same period of last year
Paid the bank loan principal and interest 0.00 71,708,072.00
Bank charges 75,393,744.00 4,356,990.00
Cash receive from withdrawing the action 0.00 8,228,880.00
Paid raise interest 0.00 110,956.00
Restrictive deposit in financial institutions increased 0.00 647,494,130.00
Issuance expenses paid and the like 0.00 236,267,369.00
Paid raise interest 40,991,275.00 0.00
Total 116,385,019.00 968,166,397.00
Notes: N/A
57. Supplementary information to cash flow statement
(1) Information of net profit to net cash flows generated from operating activities
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 1,953,153,768.00 1,162,898,767.00
Add: Provision for assets impairments 497,321,170.00 385,176,764.00
Depreciation of fixed assets, oil-gas assets and productive biological
3,590,977,357.00 2,318,091,904.00
assets
Amortization of intangible assets 122,743,131.00 105,142,402.00
Amortization of long-term deferred expense 47,685,498.00 23,631,886.00
Losses/gains on disposal of property, intangible asset and other
7,713,598.00 -4,215,514.00
long-term assets (gains: negative)
Losses/gains on scrapped of fixed assets (gains: negative) -731,624.00 -200,112.00
Losses/gains from variation of fair value (gains: negative) 0.00 0.00
Financial cost (income: negative) 176,341,089.00 106,739,572.00
Investment loss (gains: negative) -64,659,152.00 -6,582,590.00
Decrease in deferred tax assets (increase: negative) 13,203,777.00 147,688.00
Increase in deferred tax liabilities (decrease: negative) 18,249,405.00 -806,973.00
Decrease in inventory (increase: negative) -1,684,902,995.00 -648,569,543.00
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Decrease in accounts receivable from operating activities (increase:
-2,460,643,170.00 -752,208,857.00
negative)
Increase in accounts payable from operating activities (decrease:
3,465,067,596.00 564,395,108.00
negative)
Others -228,127,960.00 0.00
Net cash flows generated from operating activities 5,453,391,488.00 3,253,640,502.00
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 32,009,442,308.00 40,969,934,073.00
Less: opening balance of cash 36,504,707,160.00 16,474,975,849.00
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 -4,495,264,852.00 24,494,958,224.00
(2) Net Cash paid of obtaining the subsidiary
Unit: RMB Yuan
Amount
Cash and cash equivalents paid for enterprise combination in reporting period 389,007.00
Of which: --
Less: cash and cash equivalents the subsidiaries held on purchase date 1,131,875.00
Of which: --
Add: cash and cash equivalents paid in reporting period for enterprise
0.00
combination in previous period
Of which: --
Net cash from obtaining the subsidiaries -742,868.00
Notes: N/A
(3) Net Cash receive of disposal of the subsidiary
Unit: RMB Yuan
Amount
Cash and cash equivalents received from disposal of subsidiaries in reporting period 0.00
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Of which: --
Less: cash and cash equivalents the subsidiary held on losing control date 0.00
Of which: --
Add: cash and cash equivalents received in reporting period for disposal of subsidiaries in previous period 0.00
Of which: --
Net cash received from disposal of subsidiaries 0.00
Notes: N/A
(4) Cash and cash equivalents
Unit: RMB Yuan
Item Closing balance Opening balance
I. Cash 32,009,442,308.00 36,504,707,160.00
Including: Cash on hand 266,492.00 318,386.00
Bank deposit on demand 32,009,175,816.00 36,504,388,774.00
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
Including: bond investments due in three months 0.00 0.00
III. Closing balance of cash and cash equivalents 32,009,442,308.00 36,504,707,160.00
Of which: cash and cash equivalents with use right restricted of subsidiaries
3,255,860,442.00 3,667,694,839.00
in the parent company or Group
Notes: N/A
58. Note of statement of changes in the owner's equity
Explain ―other‖ project name and adjustment amount of the adjustment of closing balance in previous year, etc.:
59. The assets with the ownership or use right restricted
Unit: RMB Yuan
Item Closing book value Restricted reason
Monetary capital 3,255,860,442.00 The pledge use for guarantee and margin deposit
Notes receivable 44,156,249.00 Has been endorsement for transfer and the right of recourse attached
inventory 0.00 Naught
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fixed assets 41,423,756,406.00 The pledge use for guarantee
Intangible assets 718,381,677.00 The pledge use for guarantee
Investment property 173,439,006.00 The pledge use for guarantee
Construction in progress 553,302,360.00 The pledge use for guarantee
Total 46,168,896,140.00 --
Notes: N/A
60. Foreign currency monetary items
(1) Foreign currency monetary items
Unit: RMB Yuan
Item Closing foreign currency balance Exchange rate Closing convert to RMB balance
Monetary capital -- -- 5,154,919,127.00
Including: USD 805,292,403.00 6.1136 4,923,235,633.00
EUR 687,604.00 6.8699 4,723,773.00
HKD 7,498,771.00 0.7886 5,913,606.00
Yen 4,285,562,395.00 0.0501 214,500,969.00
HKD 7,498,771.00 0.7886 5,913,606.00
GBP 397.00 9.6422 3,831.00
SF 710.00 6.5979 4,685.00
SGD 208,682.00 4.5580 951,171.00
KRW 1,467,662,271.00 0.0055 8,013,436.00
TWD 6,110,880.00 0.1998 1,221,041.00
MYR 1,416.00 1.6387 2,321.00
Receivables -- -- 5,357,841,774.00
Including: USD 876,292,769.00 6.1136 5,357,303,473.00
EUR 586.00 6.8699 4,026.00
HKD 0.00 0.7886 0.00
SGD 117,217.00 4.5580 534,275.00
Long-term loan -- -- 2,321.00
Including: USD 4,789,939,119.00 6.1136 29,283,771,797.00
EUR 0.00 6.8699 0.00
HKD 0.00 0.7886 0.00
Long-term loans due within one
-- 642,657,230.00
year
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Including: USD 105,119,280.00 6.1136 642,657,230.00
Other receivables -- 16,796,869.00
Including: USD 2,063,337.00 6.1136 12,614,417.00
Yen 2,377,446.00 0.0501 118,996.00
Other foreign currency 4,063,456.00
Short- term loan -- 1,700,844,677.00
Including: USD 278,206,732.00 6.1136 1,700,844,677.00
Payables -- 7,635,913,251.00
Including: USD 616,414,620.00 6.1136 3,768,512,421.00
Yen 15,703,249,561.00 0.0501 786,732,803.00
SGD 950.00 4.5580 4330.00
TWD 4,590,035.00 0.1998 917,089.00
EUR 12,442.00 6.8699 85,476.00
Other payables -- 6,494,069,469.00
Including: USD 264,086,326.00 6.1136 1,614,518,163.00
Yen 13,038,942,315.00 0.0501 653,251,010.00
KRW 130,101,091.00 0.0055 715,556.00
TWD 6,150,811.00 0.1998 1,228,932.00
EUR 918,839.00 6.8699 6,312,331.00
Notes: N/A
(2) Note to oversea entities including: for significant oversea entities, shall disclose main operating place,
recording currency and selection basis, if there are changes into recording currency, shall also disclose the
reason.
□ Applicable √ Inapplicable
61. Other
N/A
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VIII. Changes of merge scope
1. Business merger not under same control
(1) Business merger not under same control in reporting period
Unit: RMB Yuan
Income of Net profits of
Time and place of
Cost of gaining Proportion of Way to gain the Recognition basis of acquiree during acquiree during the
Name of acquiree gaining the stock Purchase date
the stock rights stock rights stock rights purchase date the purchase date purchase date to
rights
to period-end period-end
Completed the
industrial and
commercial
Enterprise registration and
BOETechnologyEuropeGmbH 19 Feb. 2015 389,007.00 100.00% combination not 19 Feb. 2015 shareholding rights 2,184,542.00 1,454,399.00
under same control transfer, and the
directors were
appointed by the
Company
Notes: N/A
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(2) Combined cost and goodwill
Unit: RMB Yuan
Combined cost BOE Technology Europe GmbH
--Cash 389,007.00
--Fair value of non-cash assets 0.00
-- Fair value of liabilities issued or born 0.00
-- Fair value of equity securities issued 0.00
-- Fair value of contingent consideration 0.00
-- Fair value of equity on purchase date held before purchase date 0.00
--Other 0.00
Total combined cost 389,007.00
Less: received definable net assets fair proportion 1,388,046.00
Amount that Goodwill / combined cost less than definable net assets fair
-999,039.00
proportion
Notes to determination method, consideration and changes of fair value of combined cost: N/A
The main formation reason for the large goodwill: N/A
Other notes: N/A
(3) The identifiable assets and liabilities of acquiree on purchase date
Unit: RMB Yuan
BOE Technology Europe GmbH
Fair value on purchase date Book value on purchase date
Assets: 1,443,989.00 1,443,989.00
Monetary capital 1,131,875.00 1,131,875.00
Account receivables 0.00 0.00
Inventor 0.00 0.00
Fixed assets 110,755.00 110,755.00
Intangible assets 0.00 0.00
Other current assts 201,358.00 201,358.00
Liabilities: 55,943.00 55,943.00
Borrowings 0.00 0.00
Account payables 12,532.00 12,532.00
Deferred income tax liabilities 0.00 0.00
Other current liabilities 8,298.00 8,298.00
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Other non-current liabilities 35,113.00 35,113.00
Net assets 1,388,046.00 1,388,046.00
Less: minority equity 0.00 0.00
Net assets received 1,388,046.00 1,388,046.00
The recognition method of the fair value of identifiable assets and liabilities: N/A
Contingent liability of acquiree undertaken by business merger: N/A
Other notes: N/A
(4) The profit or loss from equity held by the date before acquisition in accordance with the fair value
measured again
Whether there is a transaction that through multiple transaction step by step to realize enterprises merger and gaining the control
during the reporting period
□ Yes √ No
(5) Note to merger could not be determined reasonable consideration or Identifiable assets, Fair value of
liabilities of the acquiree at acquisition date or closing period of the merge
N/A
(6) Other notes:
N/A
2. Other reasons for the changes in combination scope
Notes to reasons for the changes in combination scope (Newly established subsidiary and subsidiary of liquidation) and relevant
information:
BOE Optical Science and Technology Co., Ltd. (BOEOST), a subsidiary of the Company, incorporated sub-subsidiary Chongqing
BOE Display Lighting Co., Ltd. and the Company indirectly held a stake of 90.51% in the new sub-subsidiary at the time. Later on,
the Company increased its investment in BOEOST, which consequently increased the Company’s indirect stake in the new
sub-subsidiary to 91.2%.
N/A
3. Other
N/A
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IX. Equity in other entities
1. Equity in subsidiary
(1) The structure of the enterprise group
Main Proportion of
Registration Way of
Name of the subsidiary operating Nature of business shareholding
place gaining
place Directly Indirectly
Beijing BOE Vacuum Electronics Co., Ltd. (Vacuum Beijing, Beijing, Manufacture and sale of vacuum electronic products
55.00% 0.00% Investment
Electronics) China China
Beijing BOE Vacuum Technology Co., Ltd. (Vacuum Beijing, Beijing, Manufacture and sale of electronic tubes
100.00% 0.00% Investment
Technology) China China
Beijing BOE Special Display Technology Co., Ltd. (Special Beijing, Beijing, Development of display products and sale of electronic products
100.00% 0.00% Investment
Display) China China
Beijing Yinghe Century Co., Ltd. (Yinghe Century) Beijing, Beijing, Development and research of real estate, motor vehicles public
100.00% 0.00% Investment
China China parking service; market research
BOE Optical Science and Technology Co., Ltd. (BOEOST) Suzhou, Suzhou, Development and manufacture of backlight and related parts and
91.20% 0.00% Investment
China China components for LCD
BOE Hyundai LCD (Beijing) Display Technology Co., Ltd. Beijing, Beijing, Development, manufacture and sale of liquid display for mobile
75.00% 0.00% Investment
(BOE Hyundai) China China termination
Beijing BOE Optoelectronics Technology Co., Ltd. Beijing, Beijing, Research, development, design and manufacture of TFT-LCD
82.49% 17.51% Investment
(BOEOT) China China
BOE (Hebei) Mobile Technology Co., Ltd. (BOE Hebei) Langfang, Langfang, Manufacture and sale of mobile flat screen display technical products
100.00% 0.00% Investment
China China and related services
Beijing BOE Display Technology Co., Ltd. (BOE Display) Beijing, Beijing, Development of TFT-LCD, manufacture and sale of LCD
100.00% 0.00% Investment
China China
Beijing BOE Multimedia Technology Co. Ltd. Beijing, Beijing, Sale of computer software and hardware、the numeral regards the
audio frequency technology 100.00% 0.00% Investment
(Multimedia BOE) China China
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Beijing BOE Energy Technology Co., Ltd. (BOE Energy) Beijing, Beijing, Integration and application of photovoltaic system sale of photovoltaic
100.00% 0.00% Investment
China China system and ancillary facilities
Beijing BOE Vision-Electronic Technology Co., Ltd. Beijing, Beijing, Manufacture of LCD TV, LCD; technology development of terminal
100.00% 0.00% Investment
(BOEVT) China China products and systems such as TFT-LCD display and TV
Beijing Zhongpingxun Technology Co., Ltd. (Beijing Beijing, Beijing, Technology promotion, property management, and sale of electronic
100.00% 0.00% Investment
Zhongpingxun) China China products
Beijing Zhongxiangying Technology Co., Ltd. (Beijing Beijing, Beijing, Technology promotion, property management, and sale of electronic
100.00% 0.00% Investment
Zhongxiangying) China China products
Ordos Haosheng Energy Investment Co., Ltd. (―Haosheng Ordos, Ordos,
Energy investment 20.00% 80.00% Investment
Energy‖) China China
Ordos Yuansheng Optoelectronics Co., Ltd. (Yuansheng Ordos, Ordos,
Manufacture and sales of AM-OLED products and auxiliary products 100.00% 0.00% Investment
Optoelectronics) China China
Processing, manufacturing and sales of precision electronic
Beijing BOE Semi-conductor Co., Ltd. (BOE Beijing, Beijing, components, semi-conductor devices and micro module;
80.77% 0.00% Investment
Semi-conductor ) China China micro-electronics devices and electronic materials; import and export
of goods
British
BOE Optoelectronics Holding Co.,Ltd (Optoelectronics Beijing, Design, manufacture, trade, investment and financing activities of
Virgin 100.00% 0.00% Investment
Holding) China electronic information industry
Islands
Enterprise
Chengdu BOE Optoelectronics Technology Co., Ltd. Chengdu, Chengdu, combination
TFT-LCD; R&D, production and sales of TFT-LCD 100.00% 0.00%
(Chengdu Optoelectronics) China China not under
same control
Enterprise
Beijing, Beijing, combination
Beijing Asahi Glass Electronics Co., Ltd. (Asahi Glass) Sales of TV bracket glass rod and CTV low-melting-point solder glass 100.00% 0.00%
China China not under
same control
Hefei BOE Optoelectronics Technology Co., Ltd. (Hefei Hefei, Hefei, Enterprise
R&D, production and sales of TFT-LCD 100.00% 0.00%
BOE) China China combination
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not under
same control
Enterprise
BeijingMatsushita Color CRT Co., Ltd. (Matsushita Color Beijing, Beijing, Colour TV set, Display tube, materials of color RPTV projection tube, combination
88.80% 0.00%
CRT) China China and electronic parts; property management and parking service, etc. not under
same control
Enterprise
Hefei, Hefei, combination
Hefei Xinsheng Optoelectronics Technology Co., Ltd. R&D, production and sales of TFT-LCD 84.59% 0.03%
China China not under
same control
Enterprise
Chongqing BOE Optoelectronics Technology Co., Ltd. Chongqing, Chongqing, combination
TFT-LCD; R&D, production and sales of TFT-LCD 96.92% 0.00%
(Chongqing BOE) China China not under
same control
Beijing BOE SalesCo., LTD Beijing, Beijing, Sale of electronic products 100.00% 0.00% Investment
China China
BOE (Korea) Co., Ltd. Seongnam, Seongnam, Sale of electronic products 100.00% 0.00% Investment
Gyeonggi Gyeonggi
Beijing BOE Digital Technology Co., Ltd.(Digital Beijing, Beijing, Domestic film and television, equipment manufacturing 100.00% 0.00% Investment
Technology) China China
Beijing BOE Land Co., Ltd. (BOE Land) Beijing, Beijing, Property management service, toll parking lots 70.00% 0.00% Investment
China China
Notes: holding proportion in subsidiary different from voting proportion: N/A
Basis of holding half or less voting rights but still been controlled investee and holding more than half of the voting rights not been controlled investee: N/A
Significant structure entities and controlling basis in the scope of combination: N/A
Basis of determine whether the Company is the agent or the principal: N/A
Other notes: N/A
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(2) Significant not wholly owned subsidiary
Unit: RMB Yuan
Shareholding The profits and losses Declaring dividends Balance of minority
Name proportion of minority arbitrate to the minority distribute to minority shareholder at closing
shareholder shareholders shareholder period
N/A
Holding proportion of minority shareholder in subsidiary different from voting proportion: N/A
Other notes: N/A
(3) The main financial information of significant not wholly owned subsidiary
Unit: RMB Yuan
Closing balance Opening balance
Non-curr Non-curr Non-curr Non-curr
Name Current Total Current Total current Total Current Total
ent ent ent ent
assets assets liabilities liability assets assets liabilities liability
assets liability assets liability
N/A
Unit: RMB Yuan
Reporting period Same period of last year
Total Total
Name Operation Operating Operation Operating
Net profit comprehensi Net profit comprehensi
revenue cash flow revenue cash flow
ve income ve income
N/A
Other notes: N/A
2. The transaction of the Company with its owner’s equity share changed but still controlling the subsidiary
(1) Note to owner’s equity share changed in subsidiary
N/A
(2) The transaction’s influence to equity of minority shareholders and attributable to the owner's equity of
the parent company
Unit: RMB Yuan
Chongqing BOE BOEOST
--Cash 640,000,000.00 30,000,000.00
--Fair value of non-cash assets 0.00 0.00
Total of purchase cost/disposal of consideration 640,000,000.00 30,000,000.00
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Less: net assets proportion of subsidiaries measured at
640,520,303.00 27,683,540.00
obtaining/disposal of equity proportion
Difference 0.00 0.00
Of which: Adjustment of capital reserves 520,303.00 -2,316,460.00
Adjustment of surplus reserves 0.00 0.00
Adjustment of retained profits 0.00 0.00
Other notes: N/A
3. Equity in joint venture arrangement or associated enterprise
(1) Insignificant joint venture arrangement or associated enterprise
Unit: RMB Yuan
Closing balance /2015 Opening balance/2014
Joint venture: -- --
The total of following items according to the
-- --
shareholding proportions
Associated enterprise: -- --
Total of investment book value 658,876,472.00 638,819,435.00
The total of following items according to the
-- --
shareholding proportions
--Net profits 10,557,037.00 3,569,978.00
-- Other comprehensive income 0.00 0.00
--Total of comprehensive income 10,557,037.00 3,569,978.00
Other notes: N/A
(2) Note to the significant restrictions of the ability of joint venture or associated enterprise transfer funds
to the Company
There was no significant restriction of the ability of invested enterprise transfer funds to the Company
(3) The excess loss of joint venture or associated enterprise
Unit: RMB Yuan
The cumulative recognized The derecognized losses or the The noncumulative
Name losses in previous share of net profit in reporting unrecognized losses in reporting
accumulatively derecognized period period
N/A
Other notes: N/A
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(4) The unrecognized commitment related to joint venture investment
N/A
(5) Contingent liabilities related to joint venture or associated enterprise investment
N/A
4. Significant common operation
Proportion /share portion
Name Main operating place Registration place Business nature
Directly Indirectly
N/A
Note to holding proportion or share portion in common operation different from voting proportion: N/A
Basis of common operation as a single entity, classify as common operation: N/A
Other notes: N/A
5. Equity of structure entity not including in the scope of consolidated financial statements
Related notes to structure entity not including in the scope of consolidated financial statements: N/A
6. Other
N/A
X. Risks related to financial instruments
Risks related to financial instruments in daily activities for the Group include:
- Credit risk
- Liquidity risk
- Interest rate risk
- Foreign exchange risk
- Other price risks
The risk exposure and causes, changes in this year, risk management objectives, policies and procedures, methods of measuring risks
and changes in this year will be discussed below.
Risk management objective of the Company is to balance the risks and profits, minimize the negative effects to business performance
and maximize the profits for stockholders and other equity investors. On the basis of risk management objectives, basic strategies of
risk management are to determine and analyze all possible risks, establish appropriate risk baseline, control and manage risks and
monitor all risks timely and reliably within defined scope. The Group will regularly review the risk management policies and internal
control system to adapt to the market and changes of operating activities. The Internal Audit Department will regularly review or
randomly inspect whether implementation of internal control system satisfies risk management policies.
(1) Credit risk
Credit risk is the possibility of financial loss to one party of financial instruments from unfulfillment of obligations of the other party.
Credit risk of the Group mainly comes from accounts receivable. The management of this group will monitor the credit risk
exposure.
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Except that the monetary capital (other than cash) is deposited in financing institution with good credit, the management does not
believe that other important credit risks exist or losses are not expected to be made to the group due to the other party’s breach.
For the accounts receivable, the board of directors has formulated the credit policies according to actual conditions to determine the
credit sale limit and credit term by credit assessment. Credit assessment is performed according to customer s’ financial situation,
external ratings and transaction history. Relevant accounts receivable will expire within 15-120 days after billing date. Debtor of
accounts receivable overdue will be required to pay off the outstanding balance to obtain the credit line.
In order to monitor the credit risk, this group will analyze the customer data by aging, maturity date and other factors.
Credit risk of this group is affected by the customer characteristics, but not the industry, country or region. Therefore, concentration
of important credit risk is relied on the important accounts receivable of individual customers. On balance sheet date, accounts
receivable of the Group and top 5 customers account for 50% and 69% respectively of all receivables (47% and 85% in 2014).
Furthermore, accounts receivable without expiry or decrease in value are most related to customers without arrears recently.
The largest credit risk exposure of this group is the book amount of each financial asset on the balance sheet. Until June 30, 2015, the
group did not provide any guaranty that may cause credit risk.
(2) Liquidity risk
Liquidity risk refers to that with capital shortage when the Company is fulfilling obligations of cash payment or payment by other
financial assets methods. The Company and its subsidiaries are responsible for its own cash management, including short-term
investment of cash surplus and loan financing to satisfy prospective cash needs (if the borrowing exceeds preauthorized upper limit,
it shall be approved by the board of directors). It is the group’s policy to regularly monitor short-term and long-term circulating
capital needs and confirm whether it satisfies loan agreement in order to keep sufficient cash reserve and negotiable securities
available for realization and obtain sufficient reserve fund as promised by financing institution to satisfy the demands of short-term
and long-term circulating capital.
(3) Interest rate risk
Interest bearing financial instruments of fixed interest rate and floating interest rate will impose interest rate risks of fair value and
cash flow on the Group. Proportion of fixed interest rate and floating interest rate instruments is decided by marketing environment.
The Group will regularly review and maintain the combination of fixed and floating interest rate instruments. The Group will not
hedge interest rate risk by derivative financial instruments.
Until 30 June, 2015, under the circumstance without changes of other variables，it is supposed that the rising/ falling interest rate
rises/ falls at 100 base point will result in reduction/ increase of RMB 217,260,000 Yuan (RMB 81,680,000Yuan in 2014) for net
profits and stockholders’ equity and increase/ reduction of 11,170,000 Yuan (1,260,000 Yuan in 2014) for net profits and
stockholders’ equity.
Until balance sheet date, the group has not held any financial instruments that may impose fair value interest rate risk on the Group.
For the floating interest rate but not derivative instruments held by the Group and imposing the Group with interest rate risk of cash
flow on balance sheet date, the net profits and owners’ equity in the above sensitivity analysis will affect the annual interest expenses
or income due to above variation of interest rate.
(4) Foreign exchange risk
For the monetary capital, accounts receivable and payable, short-term borrowing and other foreign currency assets and liabilities not
valued by bookkeeping base currency, if short-term unbalance occurs, the Group will buy or sell the foreign currencies at market
exchange rate to maintain net risk exposure at an acceptable level.
Until 30 June, under the circumstance without changes of other variables, 5% fluctuation in exchange rate of RMB against U.S.
dollar, Japanese yen and Hong Kong dollar will result in increase/ reduction of 1,217,030,000 Yuan and 65,670,000 Yuan for
stockholders’ equity and increase/ reduction of 1,227,070,000 Yuan and 67,500,000 Yuan for gains and losses regardless of
capitalization. .
Above sensitivity analysis is performed based on changes of exchange rate on balance sheet date and re-measurement of financial
instruments of foreign exchange risk according to changed exchange rate held by the Group on balance sheet date. Above analysis
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excludes differences of the foreign currency conversion. Analysis of the last year is based on similar assumption and methods.
(5) Other price risks
Other price risks include equity price risk, commodity price risk, etc.
XI. The disclosure of the fair value
1. Closing fair value of assets and liabilities calculated by fair value
Unit: RMB Yuan
Closing fair value
Item Fair value measurement Fair value measurement Fair value measurement
Total
items at level 1 items at level 2 items at level 3
I. Consistent fair value
-- -- -- --
measurement
(I) Financial assets
measured by fair value
0.00 0.00 0.00 0.00
and changes recorded into
current profits and losses
1. Tradable financial
0.00 0.00 0.00 0.00
assets
(1) Debt instrument
0.00 0.00 0.00 0.00
investment
(2) Equity instrument
0.00 0.00 0.00 0.00
investment
(3) Derivative financial
0.00 0.00 0.00 0.00
assets
2. Appointed financial
assets calculated by fair
value and changes record 0.00 0.00 0.00 0.00
into current profits or
losses
(1) Debt instrument
0.00 0.00 0.00 0.00
investment
(2) Equity instrument
0.00 0.00 0.00 0.00
investment
(II) Available for sale
326,913,168.00 0.00 4,468,870,003.00 4,795,783,171.00
financial assets
(1) Debt instrument
0.00 0.00 0.00 0.00
investment
(2) Equity instrument 326,913,168.00 0.00 0.00 326,913,168.00
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investment
(3) Other 0.00 0.00 4,468,870,003.00 4,468,870,003.00
(III) Investment property 0.00 0.00 0.00 0.00
1. Rental land use right 0.00 0.00 0.00 0.00
2. Rental buildings 0.00 0.00 0.00 0.00
3.Land use right held and
ready to transfer after 0.00 0.00 0.00 0.00
appreciation
(IV) Biological assets 0.00 0.00 0.00 0.00
1. Consumptive biological
0.00 0.00 0.00 0.00
assets
2. Productive biological
0.00 0.00 0.00 0.00
asset
Total assets consistently
326,913,168.00 0.00 4,468,870,003.00 4,795,783,171.00
calculated by fair value
(V) Trading financial
0.00 0.00 0.00 0.00
liabilities
Of which；Trading bond
0.00 0.00 0.00 0.00
issued
Financial derivative
0.00 0.00 0.00 0.00
liabilities
Other 0.00 0.00 0.00 0.00
(IV) Appointed financial
liabilities calculated by
fair value and changes 0.00 0.00 0.00 0.00
record into current profits
or losses
Total liabilities
consistently calculated by 0.00 0.00 0.00 0.00
fair value
II. Inconsistent fair value
-- -- -- --
measurement
(I) Assets held for sale 0.00 0.00 0.00 0.00
Total assets inconsistently
0.00 0.00 0.00 0.00
calculated by fair value
Total liabilities
inconsistently calculated 0.00 0.00 0.00 0.00
by fair value
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2. Market price recognition basis for consistent and inconsistent fair value measurement items at level 1
The unadjusted offer in active market obtaining same assets or liabilities on calculation date
3. Valuation technique adopted and nature and amount determination of important parameters for
consistent and inconsistent fair value measurement items at level 2
Observable input value of related assets or liabilities except level 1 input value
4. Valuation technique adopted and nature and amount determination of important parameters for
consistent and inconsistent fair value measurement items at level 3
The unobservable input value of related assets or liabilities
5. Sensitiveness analysis on unobservable parameters and adjustment information between opening and
closing book value of consistent fair value measurement items at level 3
N/A
6. Explain the reason for conversion and the policy governing when the conversion happens if conversion
happens among consistent fair value measurement items at different levels
N/A
7. Changes in the valuation technique in the current period and the reason for change
N/A
8. Fair value of financial assets and liabilities not measured at fair value
N/A
9. Other
N/A
XII. Related party and related Transaction
1. Information related to parent company of the Company
Proportion of voting
Proportion of share
rights owned by
Name of parent held by parent
Registered place Business scope Registered capital parent company
company company against the
against the Company
Company (%)
(%)
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Operation and
No.12 Jiuxian
management of
Electronics Holding Bridge, Zhaoyang RMB 1,307,370,000 0.81% 8.84%
state-owned assets
District, Beijing
within authorization
No.10 Jiuxian Manufacture and
BOID Bridge, Zhaoyang sale of electronic RMB 680,982,000 2.40% 6.45%
District, Beijing products
Notes: N/A
The finial control of the Company was Electronics Holding
Other notes: N/A
2. Subsidiaries of the Company
See details to Notes 1, IX.
3. Information on the joint ventures and associated enterprises of the Company
For the details of significant joint venture and associated enterprise of the Company, see Notes 3, IX.
Information on other joint venture and associated enterprise of occurring related party transactions with the Company in reporting
period, or form balance due to related party transactions in previous period:
Name Relationship
Beijing Nissin Electronics Precision Component Co., Ltd. Associated enterprise with the Group and the Company
Beijing Nittan Electronics Co., Ltd. Associated enterprise with the Group and the Company
TPV Technology (Beijing) Co., Ltd. Associated enterprise with the Group and the Company
Other notes: N/A
4. Information on other related parties of the Company
Name Relationship
Corporation that holds over 5% shares of the Company during
Beijing State-owned Assets Management Co., Ltd.
past 12 months
Being E-TOWN International Investment & Development Co., Corporation that holds over 5% shares of the Company during
Ltd. past 12 months
Beijing Economic-Technological Investment & Development
Corporation controlled by the same ultimate controlling company
Corp.
Beijing Sevenstar Huasheng Electronics Machinery Co., Ltd. Corporation controlled by the same ultimate controlling company
Beijing Senvenstar Front Electronics Co., Ltd. Corporation controlled by the same ultimate controlling company
Beijing Sevenstar Huachuang Integrated Circuit Equipment Co.,
Corporation controlled by the same ultimate controlling company
Ltd.
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Beijing Sevenstar Hongtai Electronics Equipment Co., Ltd. Corporation controlled by the same ultimate controlling company
Beijing Sevenstar Electronics Co.,Ltd. Corporation controlled by the same ultimate controlling company
Beijing Sevenstar Flight Electronic Co., Ltd. Corporation controlled by the same ultimate controlling company
Beijing Jile Electronics Group Co., Ltd. Corporation controlled by the same ultimate controlling company
Beijing BBEF Science & Technology Co., Ltd. Corporation controlled by the same ultimate controlling company
Beijing Zhengdong Electronic Power Group Co., Ltd. Corporation controlled by the same ultimate controlling company
Beijing YanDong Microelectronics Co., Ltd. Corporation controlled by the same ultimate controlling company
Beijing Oriental Electronic Materials Co., Ltd. Corporation controlled by the same ultimate controlling company
Beijing Dongdian Industrial Development Co., Ltd. Corporation controlled by the same ultimate controlling company
Beijing PCB Source Corporation Corporation controlled by the same ultimate controlling company
Associated individual in the entity performed as a senior
Beijing Xinyihua Technology Co., Ltd.
management personnel in the past 12 months
Associated individual in the entity performed as a senior
Fuyang Xinyihua Materials Technology Co., Ltd.
management personnel in the past 12 months
Associated individual in the entity performed as a senior
Hefei Xinyihua Intelligent Machine Co., Ltd.
management personnel in the past 12 months
Other notes: N/A
5. List of related-party transactions
(1) Information on acquisition of goods and reception of labor service (unit: ten thousand Yuan)
Acquisition of goods and reception of labor service
Unit: RMB Yuan
Reporting Trading limit Over the trading Same period of
Related-party Content
period approved limit or not? last year
Beijing Electronics Holding Co., Ltd and Purchase of
18,695,212.00 180,000,000.00 No 118,009,222.00
its subsidiaries goods
Beijing Electronics Holding Co., Ltd and Receiving labor
942,193.00 3,100,000.00 No 1,015,136.00
its subsidiaries services
Beijing Nissin Electronics Precision Purchase of
339,217.00 3,000,000.00 No 1,118,865.00
Component Co., Ltd. goods
Beijing Xinyihua Technology Co., Ltd. Purchase of
85,112,371.00 170,000,000.00 No 4,563,000.00
and its subsidiaries goods
Information of sales of goods and provision of labor service
Unit: RMB Yuan
Related-party Content Reporting period Same period of last year
Beijing Electronics Holding Co., Ltd and Sale of goods 65,818.00 133,135.00
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its subsidiaries
Beijing Nittan Electronics Co., Ltd. Sale of goods 374,741.00 366,008.00
TPV Technology (Beijing) Co., Ltd. Sale of goods 137,492,894.00 230,994,417.00
Beijing Xinyihua Technology Co., Ltd.
Sale of goods 1,335,043.00 0.00
and its subsidiaries
Beijing Xinyihua Technology Co., Ltd. Rendering of
913,536.00 13,800.00
and its subsidiaries service
Notes: N/A
(2) Related trusteeship/contract
Lists of related trusteeship/contract:
Unit: RMB Yuan
Name of the Name of the Income
entruster/contract entrustee/ Type Initial date Due date Pricing basis recognized in the
ee contractor reporting period
N/A
Notes: N/A
Lists of entrust/contractee
Unit: RMB Yuan
Name of the Name of the Charge
entruster/contract entrustee/ Type Initial date Due date Pricing basis recognized in the
ee contractor reporting period
N/A
Notes: N/A
(3) Information of related lease
The Company was lessor:
Unit: RMB Yuan
Category of The lease income confirmed in The lease income confirmed in
Name of lessee
leased assets this year last year
Beijing Electronics Holding Co., Ltd and its Investment
348,087.00 394,183.00
subsidiaries property
Investment
Other related parties 708,622.00 708,591.00
property
The Company was lessee:
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Unit: RMB Yuan
Category of leased The lease income
Lessor Category of leased assets
assets confirmed in this year
Beijing Electronics Holding Co., Ltd and its
Investment property 15,461.00 0.00
subsidiaries
Notes: N/A
(4) Related-party guarantee
The Company was guarantor:
Unit: RMB Yuan
Secured party Guarantee amount Start date End date Execution accomplished or not
N/A
The Company was Secured party
Unit: RMB Yuan
Guarantor: Guarantee amount Start date End date Execution accomplished or not
N/A
Notes: N/A
(5) Inter-bank lending of capital of related parties：
Unit: RMB Yuan
Amount borrowed and
Related party Initial date Due date Explanation
loaned
Borrowed
N/A
Loaned
N/A
(6) Related party asset transfer and debt restructuring
Unit: RMB Yuan
Related party Content Reporting period Same period of last year
N/A
(7) Rewards for the key management personnel
Unit: RMB Yuan
Item Reporting period Same period of last year
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Rewards for the key management
10,210,728.00 11,794,344.00
personnel
(8) Other related-party transactions
N/A
6. Receivables and payables of related parties
(1) Receivables
Unit: RMB Yuan
Closing period Opening period
Item Related party Bad debt Bad debt
Book balance Book balance
provision provision
Beijing Electronics Holding Co.,
Account receivable 427,065.00 66,118.00 66,118.00 66,118.00
Ltd and its subsidiaries
Account receivable Other related parties 40,100,385.00 55,623.00 105,562,106.00 55,623.00
Beijing Electronics Holding Co.,
Other account receivable 0.00 0.00 33,637.00 0.00
Ltd and its subsidiaries
Other account receivable Other related parties 802,524.00 0.00 246,819.00 0.00
Beijing Electronics Holding Co.,
Prepayment 168,791.00 0.00 0.00 0.00
Ltd and its subsidiaries
Prepayment Other related parties 28,799,341.00 0.00 0.00 0.00
(2) Payables
Unit: RMB Yuan
Item Related party Closing book value Opening book value
Beijing Electronics Holding Co., Ltd and
Accounts payable 2,162,570.00 12,271,609.00
its subsidiaries
Accounts payable Other related parties 268,236.00 704,414.00
Other accounts Beijing Electronics Holding Co., Ltd and
44,813,295.00 43,726,125.00
payable its subsidiaries
Other accounts
Other related parties 20,427,214.00 15,000.00
payable
Account receivable in Beijing Electronics Holding Co., Ltd and
2,700.00 16,108.00
advance its subsidiaries
Account receivable in
Other related parties 1,123.00 84,820.00
advance
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7. Related party commitment
N/A
8. Other
N/A
XIII. Commitments and contingency
Significant commitments at balance sheet date
(1) Capital commitments
30 Jun. 2015 31, Dec, 2014
External investment contracts entered into but not performed or partially 9,810,094,467.00 12,480,876,966.00
performed
External investment contracts authorized but not entered into contact 37,204,051,715.00 21,630,781,244.00
Total 47,014,146,182.00 34,111,658,210.00
(2) Operating commitments
30 Jun. 2015 31, Dec, 2014
Within 1 year (including 1 year) 4,370,902.00 2,476,476.00
1 years to 2 years (including 2 year) 2,481,296.00 1,749,144.00
2 years to 3 years (including 2 year) 2,351,097.00 1,847,097.00
Over 3 years 657,925.00 1,077,473.00
Total 9,861,220.00 7,150,190.00
2. Contingency
(1) Significant contingency at balance sheet date
N/A
(2) The Company have no significant contingency to disclose, also should be stated
There was no significant contingency in the Company.
3. Other
N/A
XIV. Events after the balance sheet date
1. Profit distribution
Unit: RMB Yuan
Profits or dividends intended to be distributed 351,530,677.43
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Profits or dividends declared for distribution upon review and
351,530,677.43
approval
XV. Other significant events
1. Pension plan
Since 2014, the Group established pension plan in line with the related policies of private pension system and replies of related
department; withdraw enterprise pension in line with the total amount of employees’ voluntary participation in pension plan.
2. Segment information
(1) Recognition basis and accounting policies of reportable segment
The Group was based on the internal organizational structure, management requirements, internal reporting system recognized the
operating segments and based on the operating segments to recognize reportable segment. Operating segments were referred to
constituent part in the Group satisfying the following conditions simultaneously:
- The generate revenue and expenses of the constituent part occurred in daily activities;
-The management of the Group could make regular assessment on the operating results of the constituent part, decided to deploy
resources to it and evaluate its performance;
- The management of the Group could obtain the related accounting information such as financial position, operating results and cash
flows etc. of the constituent part.
If there are similar economic characteristics between the two or more operating segments and are same or similar simultaneously in
following aspects, which could be combined as one operating segment:
-Nature of each product or labor;
-Nature of production process;
-Client type of product or labor
-Way of selling products or rendering of service
-The production of products and rendering of service were influence by the law, administrative laws and regulations.
When preparing the reportable segment, the transaction income between segments measured by the actual price as the basis, the
accounting policies adopted when preparing the reportable segment was the same with the accounting policies when preparing
financial statement of the Group.
(2) The financial information of reportable segment
Unit: RMB Yuan
Intelligent system
Display devices Wisdom health Offset between
Item products and Other Total
business services segment
services
Operation
3,812,170,284.00 348,512,370.00 325,890,582.00 -2,380,849,161.00
revenue 20,865,124,037.00 22,970,848,112.00
Main business 3,583,948,108.00 0.00 0.00 -2,047,222,000.00
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income 20,380,753,253.00 21,917,479,361.00
Other operating
484,370,784.00 228,222,176.00 348,512,370.00 325,890,582.00 -333,627,161.00 1,053,368,751.00
revenue
Operating costs 3,520,053,099.00 218,288,374.00 5,956,099.00 -1,932,537,975.00
15,697,850,851.00 17,509,610,448.00
Main business
3,306,393,483.00 0.00 0.00 -1,880,946,232.00
cost 15,311,438,322.00 16,736,885,573.00
Other
386,412,529.00 213,659,616.00 218,288,374.00 5,956,099.00 -51,591,743.00 772,724,875.00
operational costs
(3) There was no reportable segment, or the total amount of assets and liabilities of each part of reportable
segment, shall disclose the reason.
N/A
(4) Other notes
N/A
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XII. Notes of main items in the financial statements of the Company
1. Accounts receivable
(1) Accounts receivable classified by category
Unit: RMB Yuan
Closing balance Opening balance
Book balance Provision for bad debts Book balance Provision for bad debts
Category Withdrawal
Proportion Withdrawal Book value Proportion Book value
Amount Amount Amount Amount Proportion
(%) Proportion (%) (%)
(%)
Accounts receivable with significant single
0.00 0.00% 0.00 0.00% 0.00 0.00 0.00% 0.00 0.00% 0.00
amount individually withdraw bad debt provision
Accounts receivable withdrawal of bad debt
50,249,128.00 0.67% 0.00 0.00% 50,249,128.00 29,949,896.00 47.68% 0.00 0.00% 29,949,896.00
provision of by credit risks characteristics:
Accounts receivable with insignificant single
29,605,947.00 0.40% 3,320,059.00 11.21% 26,285,888.00 32,860,660.00 52.32% 3,320,059.00 10.10% 29,540,601.00
amount individually withdraw bad debt provision
Total 79,855,075.00 1.07% 3,320,059.00 4.16% 76,535,016.00 62,810,556.00 100.00% 3,320,059.00 5.29% 59,490,497.00
Accounts receivable with significant single amount individually withdraw 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:
Unit: RMB Yuan
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Name of the group Withdraw methods for bad debt Basis Closing balance Closing balance of bad debt Withdrawal proportion
provision by group provision
Credit risk group Other methods With similar credit risks characteristics 50,249,128.00 0 0.00%
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(2) Bad debt provision withdrawal, reversed or recovered in the report period
The amount of bad debt provision was RMB 000; the amount of reversed or recovered bad debt provision in the
report period was of RMB 000.
Significant amount of reversed or recovered bad debt provision
Unit: RMB Yuan
Entity Amount Method
N/A
(3) Particulars of the actual verification of accounts receivable during the reporting period
Unit: RMB Yuan
Item Amount
N/A
Of which: significant actual verification of accounts receivable
Unit: RMB Yuan
Whether occurred because of related
Name of the entity Nature Amount Reason Procedure
party transactions
N/A
Notes: N/A
(4) Top five of account receivable of closing balance collected by arrears party
Unit: RMB Yuan
The total balance of account receivable of top five was RMB 54,763,480.00, 69% of the closing balance of account receivable, the
relevant closing balance of bad debt provision was RMB 787,797.
(5) Derecogniziton of account receivable due to the transfer of financial assets
N/A
(6) The amount of the assets and liabilities formed by the transfer and the continues involvement of
accounts receivable
N/A
Other notes: N/A
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2. Other account receivable
(1) Other account receivable classified by category
Unit: RMB Yuan
Closing balance Opening balance
Book balance Provision for bad debts Book balance Provision for bad debts
Category
Proportion Withdrawal Book value Proportion Withdrawal Book value
Amount Amount Amount Amount
(%) proportion (%) proportion
Other accounts receivable with significant
single amount individually withdraw bad 0.00 0.00% 0.00 0.00% 0.00 0.00 0.00% 0.00 0.00% 0.00
debt provision
Other accounts receivable withdrawal of
bad debt provision of by credit risks 3,257,738,011.00 100.00% 0.00 0.00% 3,257,738,011.00 1,050,896,232.00 100.00% 0.00 0.00% 1,050,896,232.00
characteristics:
Other accounts receivable with insignificant
single amount individually withdraw bad 0.00 0.00% 0.00 0.00% 0.00 0.00 0.00% 0.00 0.00% 0.00
debt provision
Total 3,257,738,011.00 100.00% 0.00 0.00% 3,257,738,011.00 1,050,896,232.00 100.00% 0.00 0.00% 1,050,896,232.00
Other accounts receivable with significant single amount individually withdraw 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
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Unit: RMB Yuan
Name of the Withdraw methods for Basis Closing balance Closing balance of Name of the
group bad debt provision by bad debt provision group
group
Credit risk group Other methods With similar credit risks 3,257,738,011.00 0 0.00%
characteristics
(2) Bad debt provision withdrawal, reversed or recovered in the report period
The amount of bad debt provision was RMB 000; the amount of reversed or recovered bad debt provision in the
report period was of RMB 000.
Significant amount of reversed or recovered bad debt provision
Unit: RMB Yuan
Entity Amount Method
N/A
(3) Particulars of the actual verification of other accounts receivable during the reporting period
Unit: RMB Yuan
Item Amount
N/A
Of which: significant actual verification of other accounts receivable
Unit: RMB Yuan
Whether occurred because of related party
Name of the entity Nature Amount Reason Procedure
transactions
N/A
Notes: N/A
(4) Other account receivable classified by account nature
Unit: RMB Yuan
Nature Closing book value Opening book value
Current account 2,932,358,901.00 691,910,521.00
Rent receivable 196,493,200.00 210,031,545.00
Technology using costs 85,516,796.00 97,945,776.00
Other 43,369,114.00 51,008,390.00
Total 3,257,738,011.00 1,050,896,232.00
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(5) The top five other account receivable classified by debtor at period end
Unit: RMB Yuan
Closing balance of
Entity Nature Closing balance Aging Proportion%
bad debt provision
Subsidiary Current account &
1,959,367,668.00 Within 1 year, 1-2 years 60.15% 0.00
1 technology using costs
Subsidiary Current account &
696,134,480.00 Within 1 year 21.37% 0.00
2 technology using costs
Subsidiary Current account &
222,482,699.00 Within 1 year 6.83% 0.00
3 technology using costs
Subsidiary
Rent receivable 189,702,568.00 1-2 years 5.82% 0.00
4
Subsidiary Current account &
50,177,298.00 Within 1 year 1.54% 0.00
5 technology using costs
Total -- 3,117,864,713.00 -- 95.71% 0.00
(6) Accounts receivable involved with government subsidies
Unit: RMB Yuan
Project of government Estimated received time,
Name of units Closing balance Closing age
subsidies amount and basis
N/A
(7) Other account receivable which terminate the recognition owning to the transfer of the financial assets
N/A
(8) The amount of the assets and liabilities formed by the transfer and the continues involvement of other
accounts receivable
N/A
Other notes:
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3. Long term equity investment
Unit: RMB Yuan
Closing balance Opening balance
Item
Book balance bad debt provision Book value Book balance bad debt provision Book value
Investment to the subsidiary 75,001,402,083.00 72,416,550.00 74,928,985,533.00 67,571,402,083.00 72,416,550.00 67,498,985,533.00
Investment to joint venture & associated enterprise 98,488,650.00 0.00 98,488,650.00 78,431,612.00 0.00 78,431,612.00
Total 75,099,890,733.00 72,416,550.00 75,027,474,183.00 67,649,833,695.00 72,416,550.00 67,577,417,145.00
(1) Investment to the subsidiary
Unit: RMB Yuan
Withdrawn impairment provision in Closing balance of
Entity Opening balance Increase Decrease Closing balance
the reporting period impairment provision
Beijing BOE Optoelectronics Technology Co., Ltd. 4,172,288,084.00 0.00 0.00 4,172,288,084.00 0.00 0.00
Chengdu BOE Optoelectronics Technology Co., Ltd. 1,833,149,991.00 1,000,000,000.00 0.00 2,833,149,991.00 0.00 0.00
Hefei BOE Optoelectronics Technology Co., Ltd.
9,000,000,000.00 0.00 0.00 9,000,000,000.00 0.00 0.00
(―Optoelectronics Technology‖)
Beijing BOE Display Technology Co., Ltd. (BOE
17,418,713,599.00 0.00 0.00 17,418,713,599.00 0.00 0.00
Display) (― Display Technology‖)
BeijingMatsushita Color CRT Co., Ltd. (Matsushita
424,823,089.00 0.00 0.00 424,823,089.00 0.00 0.00
Color CRT)
Ordos Yuansheng Optoelectronics Co., Ltd. (― Yuansheng
6,104,000,000.00 0.00 0.00 6,104,000,000.00 0.00 0.00
Optoelectronics‖)
Beijing BOE Vision-Electronic Technology Co., Ltd.
560,000,000.00 0.00 0.00 560,000,000.00 0.00 0.00
(BOEVT)
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BOE Optical Science and Technology Co., Ltd.
329,961,914.00 30,000,000.00 0.00 359,961,914.00 0.00 0.00
(BOEOST)
Beijing Yinghe Century Co., Ltd. (Yinghe Century) 333,037,433.00 0.00 0.00 333,037,433.00 0.00 0.00
Beijing BOE Land Co., Ltd. (BOE Land) 7,731,474.00 0.00 0.00 7,731,474.00 0.00 0.00
BOE (Hebei) Mobile Technology Co., Ltd 553,651,020.00 0.00 0.00 553,651,020.00 0.00 0.00
BOE Hyundai LCD (Beijing) Display Technology Co.,
31,038,525.00 0.00 0.00 31,038,525.00 0.00 0.00
Ltd. (BOE Hyundai)
Beijing BOE Special Display Technology Co., Ltd
100,000,000.00 0.00 0.00 100,000,000.00 0.00 60,000,000.00
(―Special Display‖)
Beijing BOE Vacuum Electronics Co., Ltd. (Vacuum
19,250,000.00 0.00 0.00 19,250,000.00 0.00 0.00
Electronics)
Beijing BOE Semi-conductor Co., Ltd. (BOE
9,450,000.00 0.00 0.00 9,450,000.00 0.00 0.00
Semi-conductor )
Beijing Asahi Glass Electronics Co., Ltd. (Asahi Glass) 30,888,470.00 0.00 0.00 30,888,470.00 0.00 0.00
Beijing BOE Vacuum Technology Co., Ltd. (―Vacuum
32,000,000.00 0.00 0.00 32,000,000.00 0.00 0.00
Technology‖)
Beijing BOE Energy Science and Technology Co., Ltd. 50,000,000.00 0.00 0.00 50,000,000.00 0.00 0.00
BOE (Korea) Co., Ltd. 788,450.00 0.00 0.00 788,450.00 0.00 0.00
Beijing BOE SalesCo., LTD 500,000.00 0.00 0.00 500,000.00 0.00 0.00
BOE Optoelectronics Holding Co., Ltd. (Optoelectronics
210,894,285.00 0.00 0.00 210,894,285.00 0.00 0.00
Holding)
Beijing BOE Digital Technology Co., Ltd. 12,416,550.00 0.00 0.00 12,416,550.00 0.00 12,416,550.00
Beijing BOE Multimedia Technology Co. Ltd.
400,000,000.00 0.00 0.00 400,000,000.00 0.00 0.00
(―Multimedia Technology‖)
Beijing Zhongxiangying Technology Co., Ltd. (Beijing 10,000,000.00 0.00 0.00 10,000,000.00 0.00 0.00
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Zhongxiangying)
Beijing Zhongpingxun Technology Co., Ltd. (Beijing
10,000,000.00 0.00 0.00 10,000,000.00 0.00 0.00
Zhongpingxun)
Ordos Haosheng Energy Investment Co., Ltd. (―Haosheng
2,000,000.00 0.00 0.00 2,000,000.00 0.00 0.00
Energy‖)
Hefei Xinsheng Optoelectronics Technology Co., Ltd. 16,575,150,000.00 0.00 0.00 16,575,150,000.00 0.00 0.00
Chongqing BOE Optoelectronics Technology Co., Ltd.
9,339,669,199.00 6,400,000,000.00 0.00 15,739,669,199.00 0.00 0.00
(Chongqing BOE)
Total 67,571,402,083.00 7,430,000,000.00 0.00 75,001,402,083.00 0.00 72,416,550.00
(2) Investment to joint ventures and associated enterprises
Unit: RMB Yuan
Increase/decrease in reporting period
Investment Closing
Adjustment of
Opening profit and loss Declaration of Withdrawn Closing balance of
Name of investee Additional Negative other Other equity
balance recognized cash dividends impairment Other balance impairment
investment investment comprehensive changes
under the equity or profits provision provision
income
method
I. Joint ventures
II. Associated enterprises
Beijing Nissin
Electronics Precision
787,850.00 0.00 0.00 4,360,963.00 0.00 0.00 0.00 0.00 0.00 5,148,813.00 0.00
Component Co., Ltd.
(Nissin Electronics)
Beijing Nittan
26,604,013.00 0.00 0.00 2,223,450.00 0.00 0.00 0.00 0.00 0.00 28,827,463.00 0.00
Electronics Co., Ltd.
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(Nittan Electronics)
Beijing Yingfei Hailin
Venture Capital
131,573.00 0.00 0.00 875,311.00 0.00 0.00 0.00 0.00 0.00 1,006,884.00 0.00
Management Co., Ltd.
(Yingfei Hailin)
Ordos BOE Energy
Investment Co., Ltd.
9,483,229.00 0.00 0.00 -6,693.00 0.00 0.00 0.00 0.00 0.00 9,476,536.00 0.00
(BOE Energy
Investment)
Beijing Fly Hailin
26,731,396.00 0.00 0.00 -2,006,764.00 0.00 0.00 0.00 0.00 0.00 24,724,632.00 0.00
Investment Center
TPV display technology
14,693,551.00 0.00 0.00 5,129,349.00 0.00 0.00 0.00 0.00 0.00 19,822,900.00 0.00
(China) Co., Ltd.
Fuzhou BOE
Optoelectronics 0.00 9,500,000.00 0.00 -18,578.00 0.00 0.00 0.00 0.00 0.00 9,481,422.00 0.00
Technology Co., Ltd.
Subtotal 78,431,612.00 9,500,000.00 0.00 10,557,038.00 0.00 0.00 0.00 0.00 0.00 98,488,650.00 0.00
Total 78,431,612.00 9,500,000.00 0.00 10,557,038.00 0.00 0.00 0.00 0.00 0.00 98,488,650.00 0.00
(3) Other notes
N/A
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4. Revenues and operating costs
Unit: RMB Yuan
Reporting period Same period of last year
Item
Revenues Operating costs Revenues Operating costs
Main operations 0.00 0.00 0.00 0.00
Other operations 395,131,526.00 65,325,004.00 394,606,138.00 56,752,883.00
Total 395,131,526.00 65,325,004.00 394,606,138.00 56,752,883.00
Other notes: N/A
5. Investment income
Unit: RMB Yuan
Same period of
Item Reporting period
last year
Long-term equity investment income accounted by cost method 452,043,628.00 0.00
Long-term equity investment income accounted by equity method 10,557,037.00 4,049,161.00
Investment income arising from disposal of long-term equity investments 0.00 0.00
Investment income from financial assets measured at fair value and changes recorded into
0.00 0.00
current profits or losses during holding period
Investment income from disposal of financial assets measured at fair value and changes
0.00 0.00
recorded into current profits or losses
Investment income from held to maturity investment during reporting period 0.00 0.00
Investment income from available for sale financial assets during holding period 2,746,320.00 2,533,429.00
Investment income from disposal of available for sale financial assets 0.00 0.00
Income from the remaining equity recalculated by fair value, after losing control 0.00 0.00
Total 465,346,985.00 6,582,590.00
6. Other
N/A
XVIII. Supplementary information
1. Items and amounts of extraordinary gains and losses
√Applicable □ Inapplicable
Unit: RMB Yuan
Item Amount Explanation
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2015 Semi-annual Report of BOE TECHNOLOGY GROUP CO., LTD
Gains/losses on the disposal of non-current assets (including the offset part of asset
-7,766,899.00 No
impairment provisions)
Tax rebates, reductions or exemptions due to approval beyond authority or the lack of
0.00 No
official approval documents
Government grants recognized in the current period, except for those acquired in the
ordinary course of business or granted at certain quotas or amounts according to the 406,391,203.00 No
country’s unified standards
Capital occupation charges on non-financial enterprises that were recorded into current
0.00 No
gains and 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 0.00 No
the investees when making the investments
Gain/loss on non-monetary asset swap 0.00 No
Gain/loss on entrusting others with investments or asset management 0.00 No
Asset impairment provisions due to acts of God such as natural disasters 0.00 No
Gain/loss on debt restructuring 0.00 No
Expenses for business reorganization, such as expenses for staffing, reorganization etc. 0.00 No
Gain/loss on the part over the fair value due to transactions with distinctly unfair prices 0.00 No
Current gains and losses of subsidies acquired from business combination under the same
0.00 No
control as from period-begin to combination date
Gain/loss on contingent events irrelevant to the Company’s normal business 0.00 No
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
0.00 No
assets and tradable 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 which the impairment
0.00 No
test was 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
0.00 No
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 No
according to requirements of taxation, accounting and other relevant laws and regulations
Custody fee income when entrusted with operation 0.00 No
Non-operating income and expenses other than the above 12,799,743.00 No
Other gain/loss items that meet the definition of an extraordinary gain/loss 0.00 No
Less: Income tax effects 35,414,794.00 No
Minority interests effects (after tax) 1,236,338.00 No
Total 374,772,915.00 --
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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
2. Return on equity (ROE) and earnings per share (EPS)
EPS（Yuan/share）
Profit as of reporting period Weighted average ROE (%)
EPS-basic EPS-diluted
Net profit attributable to common shareholders of the Company 2.53% 0.055 0.055
Net profit attributable to common shareholders of the Company
2.04% 0.045 0.045
after deduction of non-recurring profit and loss
3. 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
(2) Differences of net profit and net assets disclosed in financial reports prepared under overseas and
Chinese accounting standards
□ Applicable √ Inapplicable
(3) Explain reasons for the differences between accounting data under domestic and overseas accounting
standards, for audit data adjusting differences had been foreign audited, should indicate the name of the
foreign institutions
N/A
4. Other
N/A
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Section X. Documents Available For Reference
(I) The Financial Report has been signed by the head of the Company, President and Chief Financial Officer.
(1I) In the reporting period, all originals of the Company’s documents and public notices have been publicly disclosed on Securities
Times, Ta Kung Pao and http://www.cninfo.com.cn.
All the abovementioned documents are available at the Office of the Board of Directors.
Chairman of the Board: Mr. Wang Dongsheng (signature)
Date of the Board of Directors approving to report: 21 Aug 2015
187
