The Report for the First Quarter of 2016
April 2016
The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
Section I Important Statements
The Board of Directors, the Supervisory Committee, directors, supervisors and
senior management staff of BOE Technology Group Co., Ltd. (hereinafter
referred to as “the Company”) warrant that the contents carried in this report
are without any false record, misleading statement or material omission. And
they shall be severally and jointly liable for the authenticity, accuracy and
completeness.
Mr. Wang Dongsheng, company principal, Mr. Chen Yanshun, company
president, Ms. Sun Yun, chief of the accounting work, and Ms. Yang Xiaoping,
chief of the accounting organ (chief of accounting), hereby confirm that the
Financial Report enclosed in this report is factual, accurate and complete.
All directors have attended the board session for reviewing this report.
This report is prepared in both Chinese and English. Should there be any
understanding discrepancy between the two versions, the Chinese version shall
prevail.
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The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
Section II Financial Results and Changes in Shareholders
I Financial results
Whether the Company performed any retroactive adjustments to or restatement of its accounting data due to changes of accounting
policies or correction of accounting errors
□ Yes √ No
Item January-March 2016 January-March 2015 +/-
Operating revenues (RMB) 12,297,738,830.00 11,582,854,379.00 6.17%
Net profit attributable to shareholders of the
108,325,454.00 978,140,971.00 -88.93%
Company (RMB)
Net profit attributable to shareholders of the
-1,356,749,356.00 880,748,144.00 -254.05%
Company after exceptional profit and loss (RMB)
Net operating cash flow (RMB) 2,767,654,463.00 2,302,553,649.00 20.20%
Basic earnings per share (RMB/share) 0.003 0.028 -89.29%
Diluted earnings per share (RMB/share) 0.003 0.028 -89.29%
Weighted average return on equity 0.14% 1.27% -1.13%
Item 31 March 2016 31 December 2015 +/-
Total assets (RMB) 162,807,233,819.00 152,592,894,442.00 6.69%
Net assets attributable to shareholders of the
77,552,636,290.00 77,485,275,564.00 0.09%
Company (RMB)
Exceptional profit and loss
√ Applicable □ Not applicable
Unit: RMB
Item January-March 2016 Note
Gains/losses on the disposal of non-current assets (including the
-178,441.00 -
offset part of asset impairment provisions)
Tax rebates, reductions or exemptions due to approval beyond
0.00 -
authority or the lack of official approval documents
Government grants recognized in the current period, except for
those acquired in the ordinary course of business or granted at
1,434,844,783.00 -
certain quotas or amounts according to the country’s unified
standards
Capital occupation charges on non-financial enterprises that
0.00 -
recorded into current gains and losses
Gains due to that the investment costs for the Company to obtain
0.00 -
subsidiaries, associates and joint ventures are lower than the
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The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
enjoyable fair value of the identifiable net assets of the investees
when making the investments
Gain/loss on non-monetary asset swap 0.00 -
Gain/loss on entrusting others with investments or asset
0.00 -
management
Asset impairment provisions due to acts of God such as natural
0.00 -
disasters
Gain/loss on debt restructuring 0.00 -
Expenses for business reorganization, such as expenses for
0.00 -
staffing, reorganization etc.
Gain/loss on the part over the fair value due to transactions with
0.00 -
distinctly unfair prices
Current gains and losses of subsidies acquired from business
combination under the same control as from period-begin to 0.00 -
combination date
Gain/loss on contingent events irrelevant to the Company’s
0.00 -
normal business
Gains and losses on change in fair value from tradable financial
assets and tradable financial liabilities, as well as investment
income from disposal of tradable financial assets and tradable
37,683,600.00 -
financial liabilities and financial assets available for sales, except
for effective hedging related with normal businesses of the
Company
Reversal of impairment provisions for the accounts receivable on
0.00 -
which impairment tests were carried out separately
Gain/loss on external entrustment loans 0.00 -
Gain/loss on change of the fair value of investing real estate of
which the subsequent measurement is carried out adopting the fair 0.00 -
value method
Effect on current gains/losses when a one-off adjustment is made
to current gains/losses according to requirements of taxation, 0.00 -
accounting and other relevant laws and regulations
Custody fee income when entrusted with operation 0.00 -
Non-operating incomes and expenses other than the above 0.00 -
Other gain/loss items that meet the definition of an extraordinary
7,105,977.00 -
gain/loss
Less: Income tax effects 9,064,919.00
Minority interests effects (after tax) 5,316,190.00
Total 1,465,074,810.00 --
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The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
Explain the reasons if the Company classifies an item as exceptional profit/loss according to the definition in the Explanatory
Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Profit and Loss,
or classifies any exceptional profit/loss item mentioned in the said explanatory announcement as recurrent profit/loss
□ Applicable √ Not applicable
No such cases in the Reporting Period.
II Total number of shareholders at the period-end and shareholdings of top ten shareholders
1. Numbers of common shareholders and preference shareholders with resumed voting rights as well as
shareholdings of top ten shareholders
Unit: share
Total number of common
1,455,885 (including: 1,408,069 A-shareholders and 47,816 B-shareholders)
shareholders at the period-end
Shareholdings of top ten shareholders
Shareholding Number of Pledged or frozen shares
Nature of Number of
Name of shareholder percentage restricted shares Status of Number of
shareholder shares held
(%) held shares shares
Beijing State-owned Capital State-owned
11.56% 4,063,333,333 0
Management Center Corporation
Chongqing Capital Photoelectricity State-owned 955,000,00
8.53% 3,000,000,000 Pledged
Investment Co., Ltd. Corporation 0
State-owned
Hefei Jianxiang Investment Co., Ltd. 8.13% 2,857,142,857 0
Corporation
Hua An Fund – ICBC - Zhongrong
International Trust – Zhongrong - RJ Other 4.45% 1,564,126,904 0
No. 1 Assembled Funds Trust Plan
China Securities Finance Corporation
Other 2.49% 876,935,991 0
Limited
Beijing BOE Investment & State-owned
2.34% 822,092,180 0
Development Co., Ltd. Corporation
Beijing Economic-Technological State-owned
1.93% 677,423,641 0
Investment & Development Corp. Corporation
Hefei Raycom Projects Investment State-owned
1.92% 675,026,803 0
Co., Ltd. Corporation
Beijing BDA Technological
Other 1.60% 564,000,000 0
Investment Development Co., Ltd.
Beijing Electronics Holdings Co., Ltd. Nation 0.78% 273,735,583 0
Shareholdings of top ten non-restricted shareholders
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The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
Variety of shares
Name of shareholder Number of non-restricted shares held
Variety Number
Hua An Fund – ICBC - Zhongrong International
RMB ordinary
Trust - Zhongrong - RJ No. 1 Assembled Funds 1,564,126,904 1,564,126,904
shares
Trust Plan
RMB ordinary
China Securities Finance Corporation Limited 876,935,991 876,935,991
shares
Beijing BOE Investment & Development Co., RMB ordinary
822,092,180 822,092,180
Ltd. shares
Beijing Economic-Technological Investment & RMB ordinary
677,423,641 677,423,641
Development Corp. shares
RMB ordinary
Hefei Raycom Projects Investment Co., Ltd. 675,026,803 675,026,803
shares
Beijing BDA Technological Investment RMB ordinary
564,000,000 564,000,000
Development Co., Ltd. shares
RMB ordinary
Beijing Electronics Holdings Co., Ltd. 273,735,583 273,735,583
shares
RMB ordinary
Central Huijin Investment Ltd. 248,305,300 248,305,300
shares
Chongqing Jiangbeizui CBD Investment Group RMB ordinary
107,095,238 107,095,238
Co., Ltd. shares
Sinotrans Air Transportation Development Co., RMB ordinary
78,200,000 78,200,000
Ltd. shares
1. Beijing State-owned Capital Management Center held 100% equities of Beijing
Electronics Holdings Co., Ltd..
2. Beijing Electronics Holdings Co., Ltd. held 66.25% shares of Beijing BOE
Investment & Development Co., Ltd., which was the controlling shareholder of
the latter.
3. Beijing Economic-Technological Investment & Development Corp. held 49%
shares of Beijing BDA Technological Investment Development Co., Ltd., the
Explanation on associated relationship or above mentioned companies were both controlled by the Beijing Economic -
persons acting in concert among the Technological Development Area Administration Committee and were the persons
above-mentioned shareholders acting in concert
4. When the Company completed private offering of shares in 2014, Hefei
Jianxiang Investment Co., Ltd., Chongqing Ezcapital Opto-electronics Industry
Investment Co., Ltd. maintained unanimous according to the declaration of
intention from Beijing BOE Investment & Development Co., Ltd. when executing
the voting rights of the shareholders of the Company through the agreement of the
Voting Rights Exercising Agreement
5. When the Company completed private offering of shares in 2014, Beijing
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The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
State-owned Capital Operation and Management Center transferred the 70%
shares directly held to Beijing Electronic Shareholding Co., Ltd. for managing
through Shares Management Protocol, and Beijing Electronic Shareholding Co.,
Ltd. acquired the shareholders rights except for the disposition rights and equity
rights attached to the equities; Beijing State-owned Capital Operation and
Management Center maintained its voting rights of the rest 30% equity directly
held by itself in accordance with Beijing Electronic Shareholding Co., Ltd.
through the agreement of the Voting Rights Exercising Agreement.
6. Except for relationship among the above shareholders, the Company is not
aware of whether the other top ten shareholders exist associated relationship or
not, or they are persons acting in concert or not.
Top ten common shareholders conducting
N/A
securities margin trading (if any)
Did any of the top ten common shareholders or the top ten non-restricted common shareholders of the Company conduct any
promissory repo during the Reporting Period?
□ Yea √ No
No such cases in the Reporting Period.
2. Total number of preference shareholders and shareholdings of the top ten of them
□ Applicable √ Not applicable
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The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
Section III Significant Events
I Changes in major accounting statement items and financial indicators for the Reporting
Period, as well as reasons for such changes
√ Applicable □ Not applicable
1. Financial costs increased 116% from the same period of last year, mainly due to the increase in exchange loss and interest
expenditure.
2. Non-operating revenue increased 1125% from the same period of last year, mainly due to the increase in governmental subsidies.
3. Corporate income tax decreased 94% from the same period of last year, mainly due to the decreased profit on display devices.
4. Notes receivable increased 74% from the opening amount, mainly because some deals were settled using notes.
5. Accounts paid in advance decreased 35% from the opening amount, mainly because the prepayments to suppliers decreased.
6. Long-term equity investments increased 34% from the opening amount, mainly due to the increased investments in associates.
7. Other non-current assets increased 368% from the opening amount, mainly because the prepayments for acquisition of long-term
assets and the deferred import VAT increased.
8. Short-term borrowings decreased 82% from the opening amount, mainly because more bank loans were repaid as the projects
proceeded.
9. Notes payable increased 89% from the opening amount, mainly because some deals were settled using notes.
10. Interest payable decreased 77% from the opening amount, mainly because borrowing interest was paid.
11. Bonds payable increased by RMB9.952 billion from the opening amount, mainly due to the bonds issued in the Reporting Period.
12. Net investment cash outflow decreased 72% from the same period of last year, mainly because the expenses on construction of
new projects decreased.
13. Net financing cash outflow increased 345% from the same period of last year, mainly because more bank loans were repaid as the
projects proceeded.
II Progress of significant events and analysis & explanations on their influence and solutions
√ Applicable □ Not applicable
Index to the relevant
Date of announcement
Overview of the significant event
disclosure disclosed on the
website
China Development Fund Co., Ltd. appended investment of RMB1.6 billion on Fuzhou
BOE Optoelectronics Technology Co., Ltd. and the event had been reviewed and approved 13 Mar. 2016 www.cninfo.com.cn
by 2016 2nd Extraordinary General Meeting of the Company.
In 2016, the Company executed the public offering of the corporate bonds (Phase I) to the
qualified investors (called “16BOE01” for short with the code of “112358”), which was of 23 Mar. 2016 www.cninfo.com.cn
10 billion with the final nominal interest rate of 3.15%.
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The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
III Commitments of the Company, its shareholders, actual controller, acquirer, directors, supervisors, senior management or other
related parties fulfilled in the Reporting Period or ongoing at the period-end
√ Applicable □ Not applicable
Type of Date of commitment Term of
Commitment Commitment maker Contents Fulfillment
commitment making commitment
Commitments made in share reform
Commitments made in acquisition
documents or shareholding alteration
documents
Commitments made in time of asset
restructuring
Beijing State-owned Capital
The shares acquired from this subscription
Operation and Management Center,
Commitment shall not be transferred within 36 months
Hefei Jianxiang Investment Co.,
concerning from the first trading date of these newly 8 Apr. 2014 36 months In execution
Ltd., Chongqing Capital
Commitments made in time of IPO or restricted shares increased shares in the private placement by
Photoelectricity Investment Co.,
refinancing the issuer.
Ltd.
Commitment Voluntarily committed to lock up the whole
Hefei Raycom Projects Investment
concerning held shares of the Company of 24 months 9 Jan. 2014 24 months Fulfilled
Co., Ltd.
restricted shares since 9 January 2014.
Commitments concerning stock
ownership incentive
Committed not to decrease the shareholding
Commitment during the shareholding increase execution
Other commitments made to minority Beijing Electronics Holdings Co.,
concerning period and within 6 months after the 31 Jul. 2015 6 months Fulfilled
shareholders Ltd.
others completion of the execution of 231,700
unrestricted RMB ordinary shares increased
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The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
by the directional asset plan.
Committed not to decrease the shareholding
during the shareholding increase execution
Commitment
Beijing BOE Investment period and within 6 months after the
concerning 24 Aug, 2015 6 months Fulfilled
Development Co., Ltd. completion of the execution of
others
6,311,100unrestricted RMB ordinary shares
increased by the directional asset plan.
Commitment Committed not to decrease the shareholding
Whole Directors, Supervisors and
concerning of the Company’s shares within the future 6 11 Jul. 2015 6 months Fulfilled
Senior Executives
others months since 11 July 2015.
Beijing Electronics Holdings Co.,
Ltd., Beijing BOE Investment Commitment Committed not to decrease the shareholding
Development Co., Ltd., Hefei concerning of the Company’s shares within the future 6 28 Jan. 2016 6 months In execution
Raycom Projects Investment Co., others months since 28 Jan 2016.
ltd.
Commitment Committed not to decrease the shareholding
Beijing BDA Technological
concerning of the Company’s shares within the future 6 14 Feb. 2016 6 months In execution
Investment Development Co., Ltd.
others months since 14 February 2016.
Executed on time Yes
Specific reasons for failing to fulfill
commitments on time and plans for N/A
next step
IV Operating result forecast for January-June 2016
Warning of possible loss or considerable YoY change of the accumulated net profit made during the period-beginning to the end of the next reporting period according to prediction, as well as
explanations on the reasons:
□ Applicable √ Not applicable
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The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
V Securities investments
√ Applicable □ Not applicable
Variety of Code of Name of Opening Opening Closing Closing Profit/loss in Source of
Initial Closing book
number of shareholding number of shareholding the Reporting Accounting title
securities securities securities value securities
investment cost shares held percentage shares held percentage Period
TPV Financial assets
Stock HK00903 134,658,158.00 24,360,191 1.04% 24,360,191 1.04% 20,705,334.00 0.00 Subscribe
Technology available-for-sale
Electronic Financial assets
Stock SH600658 90,160,428.00 9,819,493 1.69% 9,819,493 1.69% 111,942,220.00 0.00 Stock-for-stock
Zone available-for-sale
Bank of Financial assets
Stock HK01963 120,084,375.00 25,195,000 0.93% 25,195,000 0.93% 132,089,380.00 0.00 Subscribe
Chongqing available-for-sale
Other securities investment held at the
0.00 0 -- 0 -- 0.00 0.00 -- --
period-end
Total 344,902,961.00 59,374,684 -- 59,374,684 -- 264,736,934.00 0.00 -- --
Disclosure date of the board announcement
N/A
on approval of the securities investment
Disclosure date of the general meeting
announcement on approval of the securities N/A
investment (if any)
VI Investments in derivative financial instruments
□ Applicable √ Not applicable
No such cases in the Reporting Period.
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The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
VII Visits paid to the Company in the Reporting Period for purposes of research,
communication, interview, etc.
√ Applicable □ Not applicable
Date of visit Way of visit Type of visitor Index to main inquiry information
2016-01-07 Teleconference Institution Main discussion:
2016-01-12 Field research Institution 1. The operating situation, the future
development strategy of the Company;
2016-01-15 Field research Institution
2. Industry conditions and development
2016-01-25 Field research Institution
trend;
2016-02-18 Field research Institution 3. Situation of the several production
2016-02-19 Teleconference Institution lines of the Company;
2016-02-24 Teleconference Institution Materials provided by the Company: the
company brochure and other public
2016-03-07 Field research Institution
information.
2016-03-17 Teleconference Institution
VIII Illegal provision of guarantees for external parties
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IX Occupation of the Company’s funds by the controlling shareholder or its related parties
for non-operating purposes
□ Applicable √ Not applicable
No such cases in the Reporting Period.
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The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
Section IV Financial Statements
I Financial statements
1. Consolidated balance sheet
Prepared by BOE Technology Group Co., Ltd.
Unit: RMB
Item Closing balance Opening balance
Current assets:
Monetary funds 47,770,767,906.00 38,866,861,836.00
Settlement reserves 0.00 0.00
Lendings to banks and other financial
0.00 0.00
institutions
Financial assets measured at fair
value with fair value changes included
0.00 0.00
in the profit and loss for the Reporting
Period
Derivative financial assets 0.00 0.00
Notes receivable 629,524,293.00 362,053,092.00
Accounts receivable 7,626,082,142.00 8,192,514,361.00
Accounts paid in advance 146,418,990.00 226,447,504.00
Premiums receivable 0.00 0.00
Reinsurance premiums receivable 0.00 0.00
Receivable reinsurance contract
0.00 0.00
reserves
Interest receivable 102,873,613.00 194,518,278.00
Dividends receivable 0.00 0.00
Other accounts receivable 908,282,661.00 593,329,847.00
Financial assets purchased under
0.00 0.00
agreement to resell
Inventories 6,388,611,021.00 6,609,406,228.00
Assets held for sale 0.00 0.00
Non-current assets due within one
0.00 0.00
year
Other current assets 8,766,975,957.00 8,712,017,517.00
Total current assets 72,339,536,583.00 63,757,148,663.00
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The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
Non-current assets:
Loans and advances to customers 0.00 0.00
Available-for-sale financial assets 413,312,323.00 454,096,246.00
Held-to-maturity investments 0.00 0.00
Long-term accounts receivable 0.00 0.00
Long-term equity investments 1,693,922,362.00 1,260,302,959.00
Investment property 1,227,516,773.00 1,227,099,427.00
Fixed assets 61,832,697,539.00 63,565,099,405.00
Construction in progress 20,384,123,931.00 18,645,461,692.00
Engineering materials 0.00 0.00
Disposal of fixed assets 0.00 0.00
Productive living assets 0.00 0.00
Oil-gas assets 0.00 0.00
Intangible assets 2,633,021,936.00 2,679,239,255.00
R&D expense 0.00 0.00
Goodwill 197,963,688.00 197,963,688.00
Long-term deferred expenses 343,499,182.00 341,526,213.00
Deferred income tax assets 112,619,058.00 117,105,220.00
Other non-current assets 1,629,020,444.00 347,851,674.00
Total non-current assets 90,467,697,236.00 88,835,745,779.00
Total assets 162,807,233,819.00 152,592,894,442.00
Current liabilities:
Short-term borrowings 940,198,511.00 5,091,974,830.00
Borrowings from the Central Bank 0.00 0.00
Money deposits accepted and
0.00 0.00
inter-bank deposits
Loans from banks and other financial
0.00 0.00
institutions
Financial liabilities measured at fair
value with fair value changes included
0.00 0.00
in the profit and loss for the Reporting
Period
Derivative financial liabilities 0.00 0.00
Notes payable 650,128,517.00 343,277,037.00
Accounts payable 9,878,595,496.00 9,849,935,031.00
Accounts received in advance 521,461,313.00 386,538,903.00
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The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
Financial assets sold for repurchase 0.00 0.00
Handling charges and commissions
0.00 0.00
payable
Payroll payable 716,821,667.00 1,092,103,138.00
Taxes and fares payable 191,195,124.00 224,415,009.00
Interest payable 80,519,121.00 348,173,849.00
Dividends payable 9,651,170.00 9,651,170.00
Other accounts payable 8,003,809,037.00 8,864,929,878.00
Reinsurance premiums payable 0.00 0.00
Insurance contract reserves 0.00 0.00
Payables for acting trading of
0.00 0.00
securities
Payables for acting underwriting of
0.00 0.00
securities
Liabilities held for sale 0.00 0.00
Non-current liabilities due within one
2,188,250,073.00 2,283,535,113.00
year
Other current liabilities 382,218,625.00 376,906,959.00
Total current liabilities 23,562,848,654.00 28,871,440,917.00
Non-current liabilities:
Long-term borrowings 37,544,574,931.00 36,341,198,145.00
Bonds payable 9,952,486,839.00 0.00
Of which: Preference shares 0.00 0.00
Perpetual bonds 0.00 0.00
Long-term accounts payable 0.00 0.00
Long-term payroll payable 0.00 0.00
Special payables 0.00 0.00
Estimated liabilities 16,457,010.00 16,457,010.00
Deferred income 2,235,661,752.00 2,406,244,676.00
Deferred income tax liabilities 435,770,545.00 435,880,215.00
Other non-current liabilities 7,656,209,857.00 6,170,843,660.00
Total non-current liabilities 57,841,160,934.00 45,370,623,706.00
Total liabilities 81,404,009,588.00 74,242,064,623.00
Owners’ equity:
Share capital 35,153,067,743.00 35,153,067,743.00
Other equity instruments 0.00 0.00
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The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
Of which: Preference shares 0.00 0.00
Perpetual bonds 0.00 0.00
Capital reserves 39,027,961,492.00 39,018,900,467.00
Less: Treasury stock 0.00 0.00
Other composite income 40,127,256.00 90,153,009.00
Special reserves 0.00 0.00
Surplus reserves 592,242,059.00 592,242,059.00
Provisions for general risks 0.00 0.00
Retained profit 2,739,237,740.00 2,630,912,286.00
Total equity attributable to owners of
77,552,636,290.00 77,485,275,564.00
the Company
Minority interests 3,850,587,941.00 865,554,255.00
Total owners’ equity 81,403,224,231.00 78,350,829,819.00
Total liabilities and owners’ equity 162,807,233,819.00 152,592,894,442.00
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
Item Closing balance Opening balance
Current Assets:
Monetary funds 13,272,895,687.00 3,327,934,443.00
Financial assets measured at fair
value with fair value changes included
0.00 0.00
in the profit and loss for the Reporting
Period
Derivative financial assets 0.00 0.00
Notes receivable 1,050,000.00 0.00
Accounts receivable 68,562,764.00 59,397,930.00
Accounts paid in advance 10,357,585.00 6,825,464.00
Interest receivable 14,442,802.00 52,437,366.00
Dividends receivable 90,941,079.00 90,941,079.00
Other accounts receivable 1,391,484,368.00 1,281,026,259.00
Inventories 11,077,142.00 10,846,799.00
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The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
Assets held for sale 0.00 0.00
Non-current assets due within one
0.00 0.00
year
Other current assets 111,938,480.00 109,578,393.00
Total current assets 14,972,749,907.00 4,938,987,733.00
Non-current assets:
Available-for-sale financial assets 151,335,586.00 176,683,497.00
Held-to-maturity investments 0.00 0.00
Long-term accounts receivable 0.00 0.00
Long-term equity investments 80,026,298,702.00 77,551,596,817.00
Investment property 168,428,016.00 169,723,827.00
Fixed assets 836,602,655.00 846,738,969.00
Construction in progress 215,518,237.00 160,409,258.00
Engineering materials 0.00 0.00
Disposal of fixed assets 0.00 0.00
Productive living assets 0.00 0.00
Oil-gas assets 0.00 0.00
Intangible assets 615,500,660.00 638,764,378.00
R&D expense 0.00 0.00
Goodwill 0.00 0.00
Long-term deferred expenses 97,456,188.00 104,917,711.00
Deferred income tax assets 0.00 0.00
Other non-current assets 2,858,414,590.00 2,551,631,765.00
Total non-current assets 84,969,554,634.00 82,200,466,222.00
Total assets 99,942,304,541.00 87,139,453,955.00
Current liabilities:
Short-term borrowings 0.00 0.00
Financial liabilities measured at fair
value with fair value changes included
0.00 0.00
in the profit and loss for the Reporting
Period
Derivative financial liabilities 0.00 0.00
Notes payable 0.00 0.00
Accounts payable 14,215,398.00 13,975,839.00
Accounts received in advance 533,824,782.00 3,439,149.00
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The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
Payroll payable 71,687,083.00 111,350,496.00
Taxes and fares payable 25,924,083.00 34,371,553.00
Interest payable 16,296,943.00 5,091,297.00
Dividends payable 6,451,170.00 6,451,170.00
Other accounts payable 8,301,452,962.00 7,507,464,657.00
Liabilities held for sale 0.00 0.00
Non-current liabilities due within one
670,000,000.00 670,000,000.00
year
Other current liabilities 0.00 0.00
Total current liabilities 9,639,852,421.00 8,352,144,161.00
Non-current liabilities:
Long-term borrowings 5,802,240,000.00 4,140,720,000.00
Bonds payable 9,952,486,839.00 0.00
Of which: Preference shares 0.00 0.00
Perpetual bonds 0.00 0.00
Long-term payables 0.00 0.00
Long-term payroll payables 0.00 0.00
Special payables 0.00 0.00
Estimated liabilities 0.00 0.00
Deferred income 145,621,375.00 151,809,223.00
Deferred income tax liabilities 0.00 0.00
Other non-current liabilities 0.00 0.00
Total non-current liabilities 15,900,348,214.00 4,292,529,223.00
Total liabilities 25,540,200,635.00 12,644,673,384.00
Owners’ equity:
Share capital 35,153,067,743.00 35,153,067,743.00
Other equity instruments 0.00 0.00
Of which: Preference shares 0.00 0.00
Perpetual bonds 0.00 0.00
Capital reserves 38,152,869,635.00 38,152,869,635.00
Less: Treasury stock 0.00 0.00
Other composite income 84,438,885.00 109,786,796.00
Special reserves 0.00 0.00
Surplus reserves 592,242,059.00 592,242,059.00
Retained profit 419,485,584.00 486,814,338.00
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The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
Total owners’ equity 74,402,103,906.00 74,494,780,571.00
Total liabilities and owners’ equity 99,942,304,541.00 87,139,453,955.00
3. Consolidated income statement
Unit: RMB
Item January-March 2016 January-March 2015
1. Operating revenues 12,297,738,830.00 11,582,854,379.00
Including: Sales income 12,297,738,830.00 11,582,854,379.00
Interest income 0.00 0.00
Premium income 0.00 0.00
Handling charge and commission
0.00 0.00
income
2. Total operating costs 13,650,818,155.00 10,515,842,490.00
Including: Cost of sales 11,522,931,968.00 8,699,864,739.00
Interest expenses 0.00 0.00
Handling charge and commission
0.00 0.00
expenses
Surrenders 0.00 0.00
Net claims paid 0.00 0.00
Net amount provided as insurance
0.00 0.00
contract reserves
Expenditure on policy dividends 0.00 0.00
Reinsurance premium 0.00 0.00
Business tax and surtaxes 44,346,672.00 37,064,077.00
Selling expenses 311,709,165.00 292,575,878.00
Administrative expenses 1,197,906,250.00 1,125,646,463.00
Financial costs 370,574,464.00 171,609,882.00
Asset impairment loss 203,349,636.00 189,081,451.00
Add: Profit/loss on fair value changes
0.00 0.00
(“-” means loss)
Profit/loss on investment (“-” means
27,303,004.00 31,384,877.00
loss)
Including: Share of profit in
-10,380,596.00 2,935,706.00
associates and joint ventures
Foreign exchange profit (“-” means
0.00 0.00
loss)
3. Operating profit (“-” means loss) -1,325,776,321.00 1,098,396,766.00
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The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
Add: Non-operating income 1,444,402,211.00 117,948,521.00
Including: Profit on disposal of
703,250.00 3,369,650.00
non-current assets
Less: Non-operating expense 2,629,891.00 8,158,910.00
Including: Loss on disposal of
881,691.00 6,388,118.00
non-current assets
4. Total profit (“-” means loss) 115,995,999.00 1,208,186,377.00
Less: Corporate income tax 13,575,834.00 230,942,461.00
5. Net profit (“-” means loss) 102,420,165.00 977,243,916.00
Net profit attributable to owners of
108,325,454.00 978,140,971.00
the Company
Minority shareholders’ income -5,905,289.00 -897,055.00
6. After-tax net amount of other
-50,025,753.00 54,206,935.00
composite income
After-tax net amount of other
composite income attributable to owners -50,025,753.00 54,281,783.00
of the Company
6.1 Other composite income that
will not be reclassified into profit and 0.00 0.00
loss
6.1.1 Changes in net liabilities
or assets with a defined benefit plan upon 0.00 0.00
re-measurement
6.1.2 Enjoyable share in other
comprehensive income in investees that
0.00 0.00
cannot be reclassified into profit and loss
under the equity method
6.2 Other composite income that
-50,025,753.00 54,281,783.00
will be reclassified into profit and loss
6.2.1 Enjoyable share in other
composite income in investees that will
0.00 0.00
be reclassified into profit and loss under
the equity method
6.2.2 Profit and loss on fair
value changes of available-for-sale -46,260,436.00 55,892,270.00
financial assets
6.2.3 Profit and loss on
reclassifying held-to-maturity
0.00 0.00
investments into available-for-sale
financial assets
6.2.4 Effective hedging profit
0.00 0.00
and loss on cash flow
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The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
6.2.5 Foreign-currency
-3,765,317.00 -1,610,487.00
financial statement translation difference
6.2.6 Other 0.00 0.00
After-tax net amount of other
composite income attributable to 0.00 -74,848.00
minority shareholders
7. Total composite income 52,394,412.00 1,031,450,851.00
Attributable to owners of the
58,299,701.00 1,032,422,754.00
Company
Attributable to minority
-5,905,289.00 -971,903.00
shareholders
8. Earnings per share
8.1 Basic earnings per share 0.003 0.028
8.2 Diluted earnings per share 0.003 0.028
Where business mergers under the same control occurred in this reporting period, the net profit achieved by the merged parties before
the business mergers was RMB000, with the corresponding amount for the same period of last year being RMB000.
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
Item January-March 2016 January-March 2015
1. Operating revenues 262,893,282.00 201,159,171.00
Less: Operating costs 35,480,917.00 35,344,186.00
Business tax and surtaxes 1,759,065.00 3,091,601.00
Selling expenses 3,909,692.00 842,344.00
Administrative expenses 276,576,389.00 221,718,364.00
Financial costs 8,127,014.00 -55,188,853.00
Asset impairment loss 0.00 0.00
Add: profit/loss on fair value changes
0.00 0.00
(“-” means loss)
Profit/loss on investment (“-”
-10,380,596.00 5,135,706.00
means loss)
Including: Income form
investment on associates and joint -10,380,596.00 2,935,706.00
ventures
2. Operating profit (“-” means loss) -73,340,391.00 487,235.00
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The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
Add: Non-operating income 6,259,917.00 4,152,071.00
Including: Profit on disposal of
83,799.46 24,000.00
non-current assets
Less: Non-operating expense 248,280.00 51,665.00
Including: Loss on disposal of
8,690.44 1,555.00
non-current assets
3. Total profit (“-” means loss) -67,328,754.00 4,587,641.00
Less: Corporate income tax 0.00 0.00
4. Net profit (“-” means loss) -67,328,754.00 4,587,641.00
5. After-tax net amount of other
-25,347,911.00 46,153,487.00
composite income
5.1 Other composite income that will
0.00 0.00
not be reclassified into profit and loss
5.1.1 Changes in net liabilities or
assets with a defined benefit plan upon 0.00 0.00
re-measurement
5.1.2 Enjoyable share in other
composite income in investees that
0.00 0.00
cannot be reclassified into profit and
loss under the equity method
5.2 Other composite income that will
-25,347,911.00 46,153,487.00
be reclassified into profit and loss
5.2.1 Enjoyable share in other
composite income in investees that will
0.00 0.00
be reclassified into profit and loss under
the equity method
5.2.2 Profit and loss on fair value
changes of available-for-sale financial -25,347,911.00 46,153,487.00
assets
5.2.3 Profit and loss on
reclassifying held-to-maturity
0.00 0.00
investments into available-for-sale
financial assets
5.2.4 Effective hedging profit and
0.00 0.00
loss on cash flow
5.2.5 Foreign-currency financial
0.00 0.00
statement translation difference
5.2.6 Other 0.00 0.00
6. Total composite income -92,676,665.00 50,741,128.00
7. Earnings per share
7.1 Basic earnings per share -0.0019 0.0001
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The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
7.2 Diluted earnings per share -0.0019 0.0001
5. Consolidated cash flow statement
Unit: RMB
Item January-March 2016 January-March 2015
1. Operating cash flow:
Cash received from sale of
14,752,531,095.00 11,797,439,308.00
commodities and rendering of service
Net increase in money deposits from
0.00 0.00
customers and inter-bank placements
Net increase in loans from the
0.00 0.00
Central Bank
Net increase in funds borrowed from
0.00 0.00
other financial institutions
Cash received from premium of
0.00 0.00
original insurance contracts
Net cash received from reinsurance
0.00 0.00
business
Net increase in deposits of policy
0.00 0.00
holders and investment fund
Net increase in disposal of financial
assets measured at fair value with fair
0.00 0.00
value changes included in the profit
and loss for the Reporting Period
Cash received from interest,
0.00 0.00
handling charges and commissions
Net increase in loans from banks and
0.00 0.00
other financial institutions
Net increase in funds in repurchase
0.00 0.00
business
Tax refunds received 918,783,988.00 809,203,320.00
Other operating cash received 1,835,570,896.00 317,948,130.00
Subtotal of operating cash inflow 17,506,885,979.00 12,924,590,758.00
Cash paid for goods and services 10,966,517,491.00 6,950,991,322.00
Net increase in loans and advances
0.00 0.00
to customers
Net increase in funds deposited in
the Central Bank and inter-bank 0.00 0.00
placements
Cash for paying claims of original
0.00 0.00
insurance contracts
Cash for paying interest, handling 0.00 0.00
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The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
charges and commissions
Cash for paying policy dividends 0.00 0.00
Cash paid to and for employees 1,700,736,984.00 1,632,621,593.00
Taxes and fares paid 322,119,905.00 370,696,004.00
Other cash payment relating to
1,749,857,136.00 1,667,728,190.00
operating activities
Subtotal of operating cash outflow 14,739,231,516.00 10,622,037,109.00
Net operating cash flow 2,767,654,463.00 2,302,553,649.00
2. Investment cash flow:
Cash received from retraction of
3,375,161,515.00 1,963,618,349.00
investments
Cash received from return on
42,798,081.00 24,830,822.00
investments
Net cash received from disposal of
fixed assets, intangible assets and other 135,071.00 431,413.00
long-term assets
Net cash received from disposal of
0.00 0.00
subsidiaries or other business units
Other cash received relating to
137,655,360.00 449,475,347.00
investment activities
Subtotal of investment cash inflow 3,555,750,027.00 2,438,355,931.00
Cash paid to acquire fixed assets,
intangible assets and other long-term 3,388,778,286.00 5,519,405,867.00
assets
Cash paid for investment 938,110,831.00 1,977,564,789.00
Net increase in pledged loans 0.00
Net cash paid to acquire subsidiaries
0.00 4,000,000.00
and other business units
Other cash payments relating to
740,357,996.00 253,826,518.00
investment activities
Subtotal of investment cash outflow 5,067,247,113.00 7,754,797,174.00
Net investment cash flow -1,511,497,086.00 -5,316,441,243.00
3. Financing cash flow:
Cash received from capital
0.00 0.00
contributions
Including: Cash received from
minority shareholder investments by 0.00 0.00
subsidiaries
Cash received as borrowings 2,595,534,651.00 1,566,209,834.00
Cash received from issuance of 0.00 0.00
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The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
bonds
Other financing cash received 800,000,000.00 0.00
Subtotal of financing cash inflow 3,395,534,651.00 1,566,209,834.00
Repayment of borrowings 5,390,276,492.00 1,619,177,601.00
Cash paid for interest expenses and
753,606,797.00 396,665,682.00
distribution of dividends or profit
Including: dividends or profit paid
by subsidiaries to minority 0.00 0.00
shareholders
Other cash payments relating to
1,116,728.00 168,363,230.00
financing activities
Sub-total of financing cash outflow 6,145,000,017.00 2,184,206,513.00
Net financing cash flow -2,749,465,366.00 -617,996,679.00
4. Effect of foreign exchange rate
4,628,616.00 105,885,330.00
changes on cash and cash equivalents
5. Net increase in cash and cash
-1,488,679,373.00 -3,525,998,943.00
equivalents
Add: Opening balance of cash and
36,182,738,217.00 36,504,707,160.00
cash equivalents
6. Closing balance of cash and cash
34,694,058,844.00 32,978,708,217.00
equivalents
6. Cash flow statement of the Company
Unit: RMB
Item January-March 2016 January-March 2015
1. Operating cash flow:
Cash received from sale of
573,128,227.00 50,318,798.00
commodities and rendering of service
Tax refunds received 0.00 0.00
Other operating cash received 928,941,523.00 329,566,686.00
Subtotal of operating cash inflow 1,502,069,750.00 379,885,484.00
Cash paid for goods and services 69,348,311.00 49,971,986.00
Cash paid to and for employees 160,383,773.00 196,573,028.00
Taxes and fares paid 24,407,533.00 18,517,675.00
Other operating cash payments 261,007,195.00 116,680,420.00
Subtotal of operating cash outflow 515,146,812.00 381,743,109.00
Net operating cash flow 986,922,938.00 -1,857,625.00
2. Investment cash flow:
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The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
Cash received from retraction of
40,161,515.00 0.00
investments
Cash received from return on
0.00 0.00
investments
Net cash received from disposal of
fixed assets, intangible assets and other 0.00 24,000.00
long-term assets
Net cash received from disposal of
0.00 0.00
subsidiaries or other business units
Other cash received relating to
2,835,529.00 35,686,166.00
investment activities
Subtotal of investment cash inflow 42,997,044.00 35,710,166.00
Cash paid to acquire fixed assets,
intangible assets and other long-term 142,493,297.00 18,918,169.00
assets
Cash paid for investment 2,554,082,482.00 6,417,564,789.00
Net cash paid to acquire subsidiaries
0.00 0.00
and other business units
Other investment cash payments 402,181,938.00 451,550.00
Subtotal of investment cash outflow 3,098,757,717.00 6,436,934,508.00
Net investment cash flow -3,055,760,673.00 -6,401,224,342.00
3. Financing cash flow:
Cash received from capital
0.00 0.00
contributions
Cash received as borrowings 1,948,000,000.00 0.00
Cash received from issuance of
0.00 0.00
bonds
Other financing cash received 0.00 0.00
Subtotal of financing cash inflow 1,948,000,000.00 0.00
Repayment of borrowings 0.00 0.00
Cash paid for interest expenses and
33,878,157.00 0.00
distribution of dividends or profit
Other cash payments relating to
0.00 10,750.00
financing activities
Sub-total of financing cash outflow 33,878,157.00 10,750.00
Net financing cash flow 1,914,121,843.00 -10,750.00
4. Effect of foreign exchange rate
-6,592,861.00 151,273.00
changes on cash and cash equivalents
5. Net increase in cash and cash
-161,308,753.00 -6,402,941,444.00
equivalents
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The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
Add: Opening balance of cash and
3,322,215,443.00 8,671,876,589.00
cash equivalents
6. Closing balance of cash and cash
3,160,906,690.00 2,268,935,145.00
equivalents
II Auditor’s report
Is this Report audited?
□ Yes √ No
This Report is not audited.
Board Chairman (signature):
Wang Dongsheng
Date of the Board’s approval: 25 April 2016
26