2016 Semi-annual Report
August 2016
2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Section I Important Statements, Contents and Terms
The board of directors (the “Board”), the board of supervisors (the “Board of Supervisors”)
as well as the directors, supervisors and senior management of BOE Technology Group Co.,
Ltd. (the “Company”) hereby guarantee the factuality, accuracy and completeness of the
contents of the Report, and shall be jointly and severally liable for any false representation,
misleading statements or material omissions in the Report.
All the directors attended the board meeting for the review of the Report.
The Company plans not to distribute cash dividends or bonus shares or convert capital
reserve into share capital.
Mr. Wang Dongsheng, Board Chairman, Mr. Chen Yanshun, President of the Executive
Committee (CEO), Ms. Sun Yun, accounting head for the Report, and Ms. Yang Xiaoping,
head of the accounting organ (head of accounting), hereby guarantee that the Financial
Report carried in the Report is factual, accurate and complete.
The Report has been prepared as per China’s Accounting Standards for Business Enterprises
and other relevant regulations.
The Report has been prepared in both Chinese and English. Should there be any
discrepancies or misunderstandings between the two versions, the Chinese version shall
prevail.
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Contents
Section I Important Statements, Contents and Terms .................................................................... 2
Section II Corporate Profile .............................................................................................................. 5
Section III Highlights of Accounting Data and Financial Indicators ............................................ 7
Section IV Report by the Board of Directors ................................................................................ 10
Section V Significant Events ........................................................................................................... 35
Section VI Share Changes and Shareholders’ Profile ................................................................... 52
Section VII Preference Shares ........................................................................................................ 59
Section VIII Directors, Supervisors and Senior Management ..................................................... 60
Section IX Financial Report ............................................................................................................ 64
Section X Documents Available for Reference ............................................................................ 216
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Terms
Term Meaning
BOE, the Company, Company BOE Technology Group Co., Ltd.
Stock Listing Rules Stock Listing Rules of Shenzhen Stock Exchange (Revised in 2014)
SZSE, the Stock Exchange Shenzhen Stock Exchange
CSRC China Securities Regulation Commission
CSRC Beijing China Securities Regulation Commission Beijing Bureau
Articles of Association Articles of Association of BOE Technology Group Co., Ltd.
The “Company Law” The “Company Law of the People’s Republic of China”
The “Securities Law” The “Securities Law of the People’s Republic of China”
The cninfo website http://www.cninfo.com.cn/
BOEOST BOE Optical Science and Technology Co., Ltd.
Chengdu BOE Chengdu BOE Optoelectronics Technology Co., Ltd.
Hefei BOE Hefei BOE Optoelectronics Technology Co., Ltd.
BOE Display Beijing BOE Display Technology Co., Ltd.
Hefei Xinsheng Hefei Xinsheng Optoelectronics Technology Co., Ltd.
Yuansheng Optoelectronics Ordos Yuansheng Optoelectronics Co., Ltd.
Chongqing BOE Chongqing BOE Optoelectronics Technology Co., Ltd.
OASIS Hospital OASIS International Hospital
SID TheSociety for InformationDisplay
Varitronix International Limited Varitronix International Limited
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Section II Corporate Profile
I Corporate information
Stock name BOE A, BOE B Stock code 000725, 200725
Stock exchange Shenzhen Stock Exchange
Company name in Chinese 京东方科技集团股份有限公司
Abbr. (if any) 京东方
Company name in English (if any) BOE TECHNOLOGY GROUP CO., LTD.
Abbr. (if any) BOE
Legal representative Wang Dongsheng
II Contact information
Item Board Secretary Securities Representative
Name Liu Hongfeng Cui Zhiyong
12 Xihuan Middle Road, Beijing 12 Xihuan Middle Road, Beijing
Address Economic-Technological Development Area, Economic-Technological Development Area,
P.R.China P.R.China
Tel. 010－64318888 ext. 010－64318888 ext.
Fax 010－64366264 010－64366264
E-mail liuhongfeng@boe.com.cn cuizhiyong@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 √ Not applicable
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 2015 Annual Report.
2. About information disclosure and where the Report is kept
Did any change occur to information disclosure media and the place where the Report is kept during the Reporting Period?
□ Applicable √ Not applicable
The newspapers designated by the Company for information disclosure, the website designated by the CSRC for disclosing the
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Report and the location where the Report is placed did not change during the Reporting Period. The said information can be found in
the 2015 Annual Report.
3. Change of the registered information
Did any change occur to the registered information during the Reporting Period?
□ Applicable √ Not applicable
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 2015 Annual Report.
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Section III Highlights of Accounting Data and Financial Indicators
I Major accounting data and financial indicators
Whether the Company performs any retroactive adjustments to or restatements of its accounting data of last year due to change in
accounting policies or correction of accounting errors
□ Yes √ No
Item Reporting Period Same period of last year YoY +/- (%)
Operating revenues (RMB Yuan) 26,448,310,717.00 22,970,848,112.00 15.14%
Net profit attributable to shareholders of the
-516,472,418.00 1,951,170,852.00 -126.47%
Company (RMB Yuan)
Net profit attributable to shareholders of the
Company after excluding exceptional profit and -2,309,697,388.00 1,576,397,937.00 -246.52%
loss (RMB Yuan)
Net cash flows from operating activities (RMB
2,734,086,955.00 5,453,391,488.00 -49.86%
Yuan)
Basic earnings per share (RMB Yuan/share) -0.015 0.055 -127.27%
Diluted earnings per share (RMB Yuan/share) -0.015 0.055 -127.27%
Weighted average return on equity (%) -0.67% 2.53% -3.20%
As at the end of the Reporting
Item As at the end of last year YoY +/- (%)
Period
Total assets (RMB Yuan) 170,275,785,022.00 152,592,894,442.00 11.59%
Net assets attributable to shareholders of the
76,601,140,771.00 77,485,275,564.00 -1.14%
Company (RMB Yuan)
II Differences between accounting data under domestic and overseas accounting standards
1. Differences of net profit and net assets disclosed in financial reports prepared under international and
Chinese accounting standards
□ Applicable √ Not applicable
No such differences for the Reporting Period.
2. Differences of net profit and net assets disclosed in financial reports prepared under overseas and
Chinese accounting standards
□ Applicable √ Not applicable
No such differences for the Reporting Period.
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
III Exceptional profit and loss
√ Applicable □ Not applicable
Unit: RMB Yuan
Item Amount Note
Profit/loss on disposal of non-current assets (including offset asset impairment provisions) 2,530,679.00 --
Tax rebates, reductions and exemptions due to approval beyond authority or the lack of official
0.00 --
approval documents
Government grants charged to the profit/loss for the Reporting Period (except for the
government grants closely related to the business of the Company and given at a fixed quota or 1,660,030,393.00 --
amount in accordance with the State’s uniform standards)
Capital occupation charges on non-financial enterprises that are charged to the profit/loss for
0.00 --
the Reporting Period
Profit due to the situation where investment costs for the Company to obtain subsidiaries,
associates and joint ventures are lower than the enjoyable fair value of identifiable net assets of 105,228,293.00 --
investees when making investments
Profit/loss on non-monetary asset swap 0.00 --
Profit/loss on entrusting others with investments or asset management 0.00 --
Asset impairment provisions due to acts of God such as natural disasters 0.00 --
Profit/loss on debt restructuring 0.00 --
Restructuring costs in staff arrangement, integration, etc. 0.00 --
Profit/loss on the part over the fair value due to transactions with distinctly unfair prices 0.00 --
Net Reporting Period profit/loss on subsidiaries acquired through business mergers under the
0.00 --
same control from the period-beginning to merger dates
Profit/loss on contingencies irrelevant to the Company’s normal business activities 0.00 --
Profit/loss on fair value changes of transactional financial assets and liabilities & investment
income from disposal of transactional financial assets and liabilities as well as financial assets
71,301,001.00 --
available for sale, except for effective hedges related to normal business operations of the
Company
Impairment provision reversal for accounts receivable on which the impairment test is carried
0.00 --
out separately
Profit/loss on entrusted loans 0.00 --
Profit/loss on fair value changes in investing properties of which the subsequent measurement
0.00 --
is carried out adopting the fair value method
Effect on Reporting Period profit/loss when a one-off adjustment is made to Reporting Period
profit/loss according to requirements of taxation, accounting and other relevant laws and 0.00 --
regulations
Custody fee income when entrusted with operations 0.00 --
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Non-operating income and expense other than the above 20,066,586.00 --
Other profit/loss that meet the definition of exceptional profit/loss 0.00 --
Less: Corporate income tax effects 38,222,530.00 --
Minority interests effects (after tax) 27,709,452.00 --
Total 1,793,224,970.00 --
Explanation of why the Company classified 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 reclassified any exceptional profit/loss item given as an example in the said explanatory announcement to recurrent profit/loss
□ Applicable √ Not applicable
No such cases in the Reporting Period.
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Section IV Report by the Board of Directors
I Overview
Up to the end of the Reporting Period, our operating revenues maintained a growing trend. For the first half of 2016, we expectedly
achieved operating revenues of approximately RMB26.4 billion, up 15.14% from the same period of last year. Meanwhile, our
percentages of the segment markets have risen steadily, our strength in technology and product innovation have further improved,
and In-Cell Touch , LTPS AMOLED and some other new technology have been productized and breakthroughs have been made in
the mass production of these products. Our 2.8” LTPS 1600 PPI, 7” FHD LTPS heteromorphic display, 82” 10K curved screen, Alta
Max, etc. were spoken highly of in the SID Display Week, the most influential event across the global display sector in US. In
addition, we applied for over 4,000 patents in the first half of the year, a 25% increase from a year earlier. Affected by financial
volatility and some non-economic factors, the first half of 2016 saw weak demand and growth in the global market. As for the
domestic economy, there were no signs of stabilization but mounting downward pressure, and the RMB volatility caused a harsh
environment for companies. In terms of the industry, the slowing-down growth in demand and the sharply falling prices in the five
major application markets led to loss across the industry, but the markets for products with high added value, new technology and
new applications still maintained a fast growth; meanwhile, the emerging new technology & materials, faster market penetration,
increasingly fierce competition of patents and reforming business models were producing an oversetting effect through cross-field
competition. In face of such a harsh market environment, we managed to do a good job in keeping a low stock of products, increasing
our shares in the segment markets and the touch modularized percentage of our products, strengthening our capabilities of technical
innovation and product development, making breakthroughs in intelligent manufacturing, pushing forward our major projects, trying
to minimize the impact of currency volatility on our business performance, etc.. Details about our performance by business division
are given as follows:
(1) Display device division
The market share kept increasing in market segments. According to IHS data, as at the end of the 2 nd quarter, the market share of
LCD smart phone and TPC nabbed the top spot in the world, the market share of MNT and TV ranked up to the 2nd place in the
world, and the market share of NB took the 4th place in the globe. With continuous enlargement of new market areas and new
strategic clients, the enhancement of cooperation with brand clients and the whole-machine factory industry chain, as well as the
expansion of client coverage, the Company has become the 1st supplier for plenty of brand clients. The capacity set a record high, the
added value kept rising, the bottleneck-procedures were optimized, and the technique capability was improved, which promoted the
increase of capacity and yield rate. The Beijing 8.5 Generation Line input-output touched new highs, and the capacity of the
Chongqing 8.5 Generation Line was rapidly improved. The integrated completion rate of production plans of all production lines
reached above 98%, which satisfied customers’ demands. The Company pushed forward the launch of projects of the touch-control
modules, the high resolution ratio products, and the new applications, so as to increase the ratio of products with high added-value,
and increase the contribution margin of the single baseplates. While focusing on market and customer demands, the Company kept
strengthening its technology capability. 130 new product models and 42 kinds of technologies were developed. The product
development was mainly based on the touch-control modules and high resolution ratio products. The technology of high resolution
ratio for middle and small size products was developed as planned, and was extended to VR/AR area. The Company optimized
intelligent integration technology, developed technologies of narrow frame, ultra-thin and ultra-light models, hook face, and
heteromorphism into production, and won high praises during the SID exhibition. As for supply system, the Company ensured its
stability, introduced new materials and new suppliers, and achieved the goal of cutting down BOM cost through strategic cooperation.
The Company applied homemade key materials, equipment, spare products and spare parts, and thus improved the dualization and
localization ratio. The Company intensified the tractive efforts brought by new materials and new technologies, emphasized more on
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
cooperation with core suppliers, so that the development of new technologies and the massive production of new products can be
stably processed.
(2) Smart system division
With Internet and artificial intelligence as the main direction, building mobile health, wisdom, screen couplet, intelligence, wisdom,
energy and five business intelligent manufacturing system. As for smart manufacturing division, the Company captured market
opportunities, and made breakthroughs in capacity and yield, reaching the planned target for the division. Among them, the big SBU
production and sales for one month hit historical high. The Company intensified more on procurement ratio of externally purchased
panels, as well as on dualistic introduction of materials, so as to cut down cost and improve efficiency. The Company promoted
project manager mechanism, and motivated the vigor and creative power of organizations. As for the mobile SBU unit, the Company
developed the industry’s leading technologies and products while cooperating with clients, and stabilized mass production. The
Company also developed new strategic clients while focusing on markets of the vehicle-mounted products, the industrial automatic
controlling products, medical products, and mobile payment products. The yield rate of module products was continuously being
improved. As for smart panel division, the Company pushed forward the transformation of business model to “providing consumers
with integrated solutions” through five big innovation projects, accomplished strategic source seeking for key projects, as well as the
development paths and cooperation module planning for all projects. The Company launched online/offline marketing plans for high
end production lines, such as 110”4K、98”4K, etc.,, which enlarged sales channels. The Company built the entrepreneurial culture for
internal staffs, optimized organization structures and business processes, and thus motived innovation vigor and cohesion force. As
for the mobile health division, the Company transformed thinking trains and constructed platforms through strategic source seeking,
strategic investment and cooperation, and as a result, provided health products and services to target groups. The Company cleared
up thoughts on the basis of big data analysis, constructed service and management module in a membership system, and founded the
basis of the Company’s development of public health service platform. As for smart energy division, the Company carried forward
projects of EPC, EMC, and photovoltaic power stations as scheduled, implemented the incentive system, and encouraged whole-staff
sales. The environmental lighting business reached the planned net profit index, the engineering projects progressed well, and the
promotion of plant factories made efforts. As for smart vehicle connection division, the Company purchased VARITRONIX, a HK
listed company, and perfected the business layout of vehicle-mounted display business and vehicle connection net system based on
the plat form of VARITRONIX.
(3) Health service division
With medical information and big data as the basic characteristics, strive to build O2O health care services, O2O health insurance
services, park three main business system solutions .As for OASIS Hospital, the Company strengthened more force on department
development, enlarged market, and refined management to improve business performance. The Company expanded B2B clients, and
gained sharp year-on-year increase in revenue, outpatient amount, and new client amount. As for Hefei Digital Hospital, the project
progressed well, the architecture design and medical planning were finished, and the system establishment and talents introduction
were being promoted as scheduled. As for the professional park, the Company gained surplus in revenue, and introduced globally
well-known enterprise for UBP/UCP divisions, stably implemented in-construction projects, and made smooth progress in project of
integration solutions. As for health insurance division, the Company confirmed the cooperate shareholders and signed founder
agreement, and submitted company preparation documents to the CIRC for review and approval.
II Analysis of main business
YoY movements in major financial data
Unit: RMB Yuan
Same period of last
Item Reporting Period YoY +/-% Main reason for movement
year
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Operating revenues 26,448,310,717.00 22,970,848,112.00 15.14% -
Increased as the sales volume
Operating costs 23,987,091,158.00 17,509,610,448.00 36.99%
increased
Increased as the sales volume
Selling expenses 696,216,454.00 532,688,703.00 30.70%
increased
Administrative expenses 2,311,090,435.00 2,252,419,046.00 2.60% -
Increase in exchange loss and
Finance expenses 1,234,879,010.00 176,341,089.00 600.28%
expensed interest
Lower earnings of the display device
Corporate income tax 56,258,311.00 411,060,664.00 -86.31%
division due to a declining market
R&D expenses 1,944,443,159.00 1,414,269,610.00 37.49% R&D enhancement
Net cash flows from operating Considerable drop in our main
2,734,086,955.00 5,453,391,488.00 -49.86%
activities product prices
Net cash flows from investing
-12,633,262,404.00 -11,570,264,006.00 9.19% -
activities
Net cash flows from financing Arrival of the funds raised through
13,870,080,988.00 1,699,283,524.00 716.23%
activities floating bonds
Net increase in cash and cash Arrival of the funds raised through
3,853,303,396.00 -4,495,264,852.00 -185.72%
equivalents floating bonds
Non-operating revenue 1,793,732,882.00 424,771,458.00 322.28% Increase in government subsidies
Major changes to the profit structure or sources of the Company in the Reporting Period:
□ Applicable √ Not applicable
No such cases in 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 √ Not applicable
No such cases in the Reporting Period.
Review the progress of the previously disclosed business plan in the Reporting Period:
Not applicable
III Breakdown of main business
Unit: RMB Yuan
Operating Operating Gross profit
Gross profit
Item Operating revenue Operating cost revenue: YoY cost: YoY margin: YoY
margin (%)
+/-% +/-% +/-%
By business segment
Display device 23,281,888,424.00 21,409,179,977.00 8.04% 11.58% 36.38% -16.73%
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Intelligent system 5,316,700,647.00 4,865,343,522.00 8.49% 39.47% 38.22% 0.83%
Health service 421,831,018.00 236,009,523.00 44.05% 21.04% 8.12% 6.68%
Other 397,746,294.00 2,591,623.00 99.35% 22.05% -56.49% 1.18%
Offset -2,969,855,666.00 -2,526,033,487.00 14.94% 24.74% 30.71% -3.89%
By product
Display devices 23,281,888,424.00 21,409,179,977.00 8.04% 11.58% 36.38% -16.73%
Intelligent systems 5,316,700,647.00 4,865,343,522.00 8.49% 39.47% 38.22% 0.83%
Health service 421,831,018.00 236,009,523.00 44.05% 21.04% 8.12% 6.68%
Other 397,746,294.00 2,591,623.00 99.35% 22.05% -56.49% 1.18%
Offset -2,969,855,666.00 -2,526,033,487.00 14.94% 24.74% 30.71% -3.89%
By geographical segment
China 14,391,492,598.00 12,838,812,012.00 10.79% 38.06% 64.38% -14.28%
Other Asian countries
10,389,678,151.00 9,602,026,112.00 7.58% 7.24% 27.76% -14.84%
and regions
Europe 700,538,195.00 659,442,935.00 5.87% -38.00% -21.75% -19.54%
America 898,981,043.00 824,312,271.00 8.31% -45.30% -35.39% -14.06%
Other regions 67,620,730.00 62,497,828.00 7.58% -20.53% -3.15% -16.57%
IV Core competitiveness analysis
1. The Company firmly promoted and implemented DSH business strategy, rapidly formed the layout of new business area,
consolidated businesses and improved global competitiveness
In the 1st half of Y2016, the BOE firmly promoted and implemented DSH business strategy, made efforts to strengthen and expand
display device (D) business, rapidly formed layout of smart system (S) business and health service (H) business, consolidated its
businesses and improved global competitiveness. As for display device business, the construction of the Chengdu 6th Generation
Flexible AMOLED Production Line, as well as the Fuzhou 8.5th Generation TFT-LCD Production Line were stably promoted, and
capped in advance. The Hefei 10.5th TFT-LCD Product Line project construction was rapidly promoted, and the equipment
examination progressed smoothly. The aforesaid projects offered the security both in capacity and technology for strengthening and
expanding display device business, as well as for making transformation and upgrade of the Company. As for smart system (S)
business, the acquirement of VARITRONIX made the foundation for developing smart vehicle connection business for smart system
business. As health service (H) business, the architecture design and medical planning of Hefei Digital Hospital project were finished,
and the system establishment and talents introduction were being promoted as scheduled.
2. The Company intensified on enlarging and maintaining strategic clients, and deeply ploughed and subdivided the markets
With the policy of “Deep cooperation, Collaborative development, and Value co-creation”, BOE has become the world top supplier
in display field. BOE has kept long-term and sustainable cooperation with well-known domestic and overseas clients, including
Samsung, LG, Hisense, Konka, Lenovo, Dell, and HP, ranking as the 1st supplier for plenty of international 1st class brands. While
intensifying on enlarging and maintaining strategic clients, the Company deeply ploughed and subdivided the markets, and realized
stable increase in market share in subdivided markets. As for display device business, according to IHS data, the market share of
LCD smart phone and tablets kept ranking as the world number 1, the market share of laptops ranked in the 4th place in the world,
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
and the displayer and TV business ranked in the 2nd place in the world.
3. The Company reinforced independent innovation, and further promoted its ability to innovate
The Company insisted on value creation driven by innovation, and achieved victories by continuous innovation in technologies and
products. In the 1st half of Y2016, the amount of patents applied broke through 4000, representing a year-on-year increase of 25%.
New technologies of TDDI, SLOC, LTPS AMOLED, and so on made breakthroughs in productization and massive production. The
Company promoted series of globally leading innovative products. Products and technologies, including 2.8" LTPS 1600 PPI, 7"
FHD LTPS heteromorphism display, hook-face product of 82" 10K hook face with the highest resolution rate in the world, and Alta
Max, won high praises in global industry in SID.
4. The Company pushed forward transformation and upgrade, and further promoted its brand image
With the promotion of transformation and upgrade, the Company’s products and service quality was further improved, the innovation
vigor of the organization was further motivated, the publicity and marketing promotion was further enhanced, and the Company’s
brand image was further improved. In the 1st half of Y2016, the CCTV news broadcasting the innovative brand image of the
Company for many times, together with the organization and implementation of significant exhibitions in China and overseas, for
example, the suppliers’ meeting, sharply improved the brand recognition and reputation of the Company.
V Investment analysis
1. Investments in equities of external parties
(1) Investments in external parties
√ Applicable □ Not applicable
Investments in external parties
Investment in the Reporting
Investment in the same period of last year (RMB Yuan) +/-%
Period (RMB Yuan)
467,187,000.00 17,150,625.00 2,624.02%
Investees’ profile
Proportion of the Company’s
Name of investee Main business investment in the investee’s
total equity interests (%)
Beijing Yingfei Hyleen Project investment, investment consulting service, investment
33.33%
Investment Center management
Hefei BOE Display Technology Investment, R&D, production and sale of TFT-LCD and related
7.78%
Co., Ltd. products
Equity investment in TMT (technology, media and
Danhua Capital II, L.P. 5.00%
telecommunication)
(2) Equity-holdings in financial enterprises
□ Applicable √ Not applicable
No such cases in the Reporting Period.
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
(3) Securities investments
√ Applicable □ Not applicable
Profit/los
Initial Closing
Variet Code Opening Closing s in the
investme Opening Closing book
y of of Name of securities-ho securities-ho Reportin Accounti Securitie
nt cost securities-ho securities-ho value
securit securit securities ldings ldings g Period ng title s source
(RMB ldings (%) ldings (%) (RMB
ies ies (share) (share) (RMB
Yuan) Yuan)
Yuan)
Huayi Transacti
HK00 Tencent 7,390,92 35,872,34 4,623,93 onal Subscrip
Stock 0 0.00% 60,735,780 0.44%
419 Entertain 3.00 7.00 7.00 financial tion
ment asset
Other securities
investments held at the 0.00 0 -- 0 -- 0.00 0.00 -- --
period-end
7,390,92 35,872,34 4,623,93
Total 0 -- 60,735,780 -- -- --
3.00 7.00 7.00
Disclosure date of the
announcement about the
Not applicable
board’s consent for the
securities investment
Disclosure date of the
announcement about the
general meeting’s Not applicable
consent for the securities
investment (if any)
Note: The Company subscribed for 400,000,000 shares of Varitronix International in April 2016, representing a stake of
approximately 54.70%, which has made the Company the controlling shareholder of Varitronix International. And Varitronix
International holds shares of Huayi Tencent Entertainment.
(4) Shareholdings in other listed companies
√ Applicable □ Not applicable
The Company’s Profit/loss in the
Initial Closing book
Stock shareholding Reporting Stock
Stock name investment cost value (RMB Accounting title
code percentage in the Period (RMB source
(RMB Yuan) Yuan)
investee (%) Yuan)
HK00903 TPV Technology 134,658,158 1.04% 30,814,570 205,296.00 Available-for-sale Subscription
financial assets
SH600658 Electronic Zone 90,160,428 1.69% 101,435,363 2,641,444.00 Available-for-sale Share swap
financial assets
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
HK01963 Bank of 120,084,375 0.93% 128,352,894 6,651,480.00 Available-for-sale Subscription
Chongqing financial assets
HK00003 Hong Kong and 2,126,541 0.0011% 9,341,587 0.00 Available-for-sale Subscription
China Gas financial assets
Total 347,029,502 -- 269,944,414 9,498,220.00 -- --
Note: The Company subscribed for 400,000,000 shares of Varitronix International in April 2016, representing a stake of
approximately 54.70%, which has made the Company the controlling shareholder of Varitronix International. And Varitronix
International holds shares of Hong Kong and China Gas.
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
2. Wealth management entrustment, derivative investments and entrustment loans
(1) Wealth management entrustment
√ Applicable □ Not applicable
Unit: RMB Ten Thousand Yuan
Related- Principal Actual gain
Anticipat
Related-pa party Amount of Payment actually Impairmen or loss in
Name of trustee Type of products Beginning date Ending date ed
rty relation transacti wealth determination recovered in t provision current
income
on or not current period period
Industrial and Commercial Bank wealth Pledgeable
No No 10,000 5 Feb. 2016 7 Apr. 2016 10,000 0 61 61
Bank of China management product principal
Industrial and Commercial Bank wealth Pledgeable
No No 48,000 30 Sep. 2015 27 Jan. 2016 48,000 0 631 137
Bank of China management product principal
Industrial and Commercial Bank wealth Pledgeable
No No 20,000 1 Dec. 2015 29 Mar. 2016 20,000 0 243 178
Bank of China management product principal
Industrial and Commercial Bank wealth Pledgeable
No No 10,000 3 Feb. 2016 10 May. 2016 10,000 0 97 97
Bank of China management product principal
Industrial and Commercial Bank wealth Pledgeable
No No 25,000 11 Dec. 2015 8 Apr. 2016 25,000 0 304 248
Bank of China management product principal
Bank wealth Pledgeable
China Everbright Bank No No 12,800 27 May 2016 27 Aug. 2016 0 0 98 36
management product principal
Bank wealth Pledgeable
China Development Bank No No 18,800 3 Jun. 2016 1 Sep. 2016 0 0 134 40
management product principal
Bank wealth Pledgeable
China Development Bank No No 20,000 4 Mar. 2016 5 Apr. 2016 20,000 0 47 47
management product principal
China Development Bank No No Bank wealth 10,000 30 May 2016 30 Jun. 2016 Pledgeable 10,000 0 23 23
17
2016 Semi-annual Report of BOE Technology Group Co., Ltd.
management product principal
Bank wealth Pledgeable
China Development Bank No No 20,000 28 Jun. 2016 28 Sep. 2016 0 0 146 3
management product principal
Bank wealth Pledgeable
Huishang Bank No No 20,000 11 Sep. 2015 6 Jan. 2016 20,000 0 269 12
management product principal
Bank wealth Pledgeable
Huishang Bank No No 30,000 15 Jan. 2016 5 May 2016 30,000 0 319 319
management product principal
Bank wealth Pledgeable
Huishang Bank No No 30,000 25 May 2016 25 Aug. 2016 0 0 253 99
management product principal
Bank wealth Pledgeable
Huishang Bank No No 15,000 24 Sep. 2015 20 Jan. 2016 15,000 0 213 34
management product principal
Bank wealth Pledgeable
Huishang Bank No No 15,000 13 Nov. 2015 9 Mar. 2016 15,000 0 192 112
management product principal
Bank wealth Pledgeable
China Construction Bank No No 100,000 27 May 2016 7 Jul. 2016 0 0 315 261
management product principal
China Minsheng Banking Bank wealth Pledgeable
No No 55,000 24 May 2016 26 Jul. 2016 0 0 313 184
Corp. Ltd. management product principal
China Minsheng Banking Bank wealth Pledgeable
No No 185,000 26 May. 2016 25 Aug. 2016 0 0 1,545 594
Corp. Ltd. management product principal
Bank wealth Pledgeable
Agricultural Bank of China No No 10,000 30 Jun. 2016 28 Sep. 2016 0 0 76 1
management product principal
Bank wealth Pledgeable
Ping An Bank No No 20,000 1 Apr. 2016 29 Apr. 2016 20,000 0 52 52
management product principal
Bank wealth Pledgeable
Ping An Bank No No 98,400 1 Apr. 2016 29 Apr. 2016 98,400 0 257 257
management product principal
Ping An Bank No No Bank wealth 128,400 6 May 2016 20 May 2016 Pledgeable 128,400 0 138 138
18
2016 Semi-annual Report of BOE Technology Group Co., Ltd.
management product principal
Bank wealth Pledgeable
Ping An Bank No No 40,000 24 May 2016 23 Jun. 2016 40,000 0 104 104
management product principal
Bank wealth Pledgeable
Ping An Bank No No 128,400 25 May 2016 8 Jun. 2016 128,400 0 135 135
management product principal
Bank wealth Pledgeable
Ping An Bank No No 128,400 15 Jun. 2016 13 Sep. 2016 0 0 1,061 177
management product principal
Bank wealth Pledgeable
Ping An Bank No No 40,000 30 Jun. 2016 28 Jul. 2016 0 0 101 4
management product principal
Bank wealth Pledgeable
Ping An Bank No No 40,000 27 May 2016 24 Jun. 2016 40,000 0 81 81
management product principal
Bank wealth Pledgeable
Ping An Bank No No 20,000 24 Jun. 2016 22 Jul. 2016 0 0 49 11
management product principal
Bank wealth Pledgeable
Ping An Bank No No 20,000 11 Mar. 2016 18 May 2016 20,000 0 116 116
management product principal
Bank wealth Pledgeable
Ping An Bank No No 20,000 27 May 2016 26 Aug. 2016 0 0 162 61
management product principal
Bank wealth Pledgeable
Ping An Bank No No 10,000 8 Apr. 2016 17 May 2016 10,000 0 35 35
management product principal
Bank wealth Pledgeable
Ping An Bank No No 20,000 4 May 2016 18 May 2016 20,000 0 21 21
management product principal
Bank wealth Pledgeable
Ping An Bank No No 10,000 26 May 2016 2 Jun. 2016 10,000 0 5 5
management product principal
Shanghai Pudong Bank wealth Pledgeable
No No 10,000 11 Mar. 2016 11 Apr. 2016 10,000 0 25 25
Development Bank management product principal
Shanghai Pudong No No Bank wealth 10,000 30 May 2016 29 Jun. 2016 Pledgeable 10,000 0 22 22
19
2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Development Bank management product principal
Shanghai Pudong Bank wealth Pledgeable
No No 10,000 13 Nov. 2015 20 Jan. 2016 10,000 0 97 27
Development Bank management product principal
Shanghai Pudong Bank wealth Pledgeable
No No 16,600 13 Nov. 2015 11 Feb. 2016 16,600 0 176 80
Development Bank management product principal
Shanghai Pudong Bank wealth Pledgeable
No No 30,000 23 Dec. 2015 22 Mar. 2016 30,000 0 333 300
Development Bank management product principal
Shanghai Pudong Bank wealth Pledgeable
No No 20,000 28 Jan. 2016 27 Apr. 2016 20,000 0 212 212
Development Bank management product principal
Shanghai Pudong Bank wealth Pledgeable
No No 26,600 25 Feb. 2016 25 Apr. 2016 26,600 0 184 184
Development Bank management product principal
Shanghai Pudong Bank wealth Pledgeable
No No 20,000 11 Mar. 2016 10 May 2016 20,000 0 138 138
Development Bank management product principal
Shanghai Pudong Bank wealth Pledgeable
No No 30,000 25 Mar. 2016 24 Apr. 2016 30,000 0 101 101
Development Bank management product principal
Shanghai Pudong Bank wealth Pledgeable
No No 30,000 25 Mar. 2016 24 Apr. 2016 30,000 0 101 101
Development Bank management product principal
Shanghai Pudong Bank wealth Pledgeable
No No 25,000 14 Apr. 2016 14 May 2016 25,000 0 84 84
Development Bank management product principal
Shanghai Pudong Bank wealth Pledgeable
No No 106,600 29 Apr. 2016 18 Mary 2016 106,600 0 172 172
Development Bank management product principal
Shanghai Pudong Bank wealth Pledgeable
No No 20,000 12 May 2016 19 May 2016 20,000 0 14 14
Development Bank management product principal
Shanghai Pudong Bank wealth Pledgeable
No No 80,000 25 May 2016 24 Jul. 2016 0 0 487 292
Development Bank management product principal
Shanghai Pudong No No Bank wealth 80,000 25 May 2016 23 Aug. 2016 Pledgeable 0 0 730 292
20
2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Development Bank management product principal
Shanghai Pudong Bank wealth Pledgeable
No No 40,000 27 May 2016 27 Jun. 2016 40,000 0 126 126
Development Bank management product principal
Shanghai Pudong Bank wealth Pledgeable
No No 10,000 9 Oct. 2015 7 Jan. 2016 10,000 0 108 7
Development Bank management product principal
Shanghai Pudong Bank wealth Pledgeable
No No 30,400 22 Oct. 2015 20 Jan. 2016 30,400 0 322 68
Development Bank management product principal
Shanghai Pudong Bank wealth Pledgeable
No No 30,000 26 Nov. 2015 24 Feb. 2016 30,000 0 318 191
Development Bank management product principal
Shanghai Pudong Bank wealth Pledgeable
No No 20,000 30 Nov. 2015 29 Feb. 2016 20,000 0 214 139
Development Bank management product principal
Shanghai Pudong Bank wealth Pledgeable
No No 25,000 14 Dec. 2015 14 Mar. 2016 25,000 0 268 215
Development Bank management product principal
Shanghai Pudong Bank wealth Pledgeable
No No 35,000 21 Dec. 2015 20 Mar. 2016 35,000 0 371 326
Development Bank management product principal
Shanghai Pudong Bank wealth Pledgeable
No No 10,000 11 Jan. 2016 11 Apr. 2016 10,000 0 112 112
Development Bank management product principal
Shanghai Pudong Bank wealth Pledgeable
No No 30,000 26 Feb. 2016 26 Apr. 2016 30,000 0 207 207
Development Bank management product principal
Shanghai Pudong Bank wealth Pledgeable
No No 15,000 11 Mar. 2016 11 Apr. 2016 15,000 0 55 55
Development Bank management product principal
Shanghai Pudong Bank wealth Pledgeable
No No 25,000 17 Mar. 2016 16 May 2016 25,000 0 173 173
Development Bank management product principal
Shanghai Pudong Bank wealth Pledgeable
No No 30,000 24 Mar. 2016 25 Apr. 2016 30,000 0 108 108
Development Bank management product principal
Shanghai Pudong No No Bank wealth 10,000 14 Apr. 2016 16 May 2016 Pledgeable 10,000 0 36 36
21
2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Development Bank management product principal
Shanghai Pudong Bank wealth Pledgeable
No No 25,000 14 Apr. 2016 16 May 2016 25,000 0 90 90
Development Bank management product principal
Shanghai Pudong Bank wealth Pledgeable
No No 30,000 4 May 2016 18 May 2016 30,000 0 36 36
Development Bank management product principal
Shanghai Pudong Bank wealth Pledgeable
No No 30,000 5 May 2016 18 May 2016 30,000 0 33 33
Development Bank management product principal
Shanghai Pudong Bank wealth Pledgeable
No No 70,000 25 May 2016 24 Jul. 2016 0 0 426 255
Development Bank management product principal
Shanghai Pudong Bank wealth Pledgeable
No No 60,000 27 May 2016 27 Jun. 2016 60,000 0 189 189
Development Bank management product principal
Bank wealth Pledgeable
Industrial Bank No No 10,000 28 Dec. 2015 28 Jan. 2016 10,000 0 32 28
management product principal
Bank wealth Pledgeable
Industrial Bank No No 10,000 28 Jan. 2016 20 May 2016 10,000 0 150 150
management product principal
Bank wealth Pledgeable
Industrial Bank No No 10,000 30 May 2016 30 Jul. 2016 0 0 49 25
management product principal
Bank wealth Pledgeable
China Citic Bank No No 10,000 26 May 2016 23 Jun. 2016 10,000 0 20 20
management product principal
Total 2,458,400 -- -- -- 1,578,400 0 13,915 8,316
Source of the entrusted funds Self-owned funds
Cumulative overdue principals and gains 0
Lawsuit (if applicable) Not applicable
Disclosure date of the announcement about the board approving the wealth 26 Apr. 2016
management entrustment (if any)
22
2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Disclosure date of the announcement about the general meeting approving 21 May 2016
the wealth management entrustment (if any)
Notes: the quota of the approved trust management by the Annual General Meeting of the Company was of RMB10 billion Yuan and the quota could be used repeatedly.
(2) Derivatives investment
□ Applicable √ Not applicable
No such cases in the Reporting Period.
(3) Entrustment loans
□ Applicable √ Not applicable
No such cases in the Reporting Period.
3. Use of raised funds
√ Applicable □ Not applicable
(1) Overview of the use of raised funds
√ Applicable □ Not applicable
RMB Ten thousand Yuan
Total raised funds 5,488,471
Raised funds input in the Reporting Period 1,243,401
Raised funds accumulatively input 5,052,278
Raised funds with changed use in the Reporting Period 0
Accumulative raised funds with changed use 350,000
23
2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Proportion of accumulative raised funds with changed use (%) 6.38%
Overview of the use of raised funds
The total raised funds stood of RMB5,488,471 billion Yuan.Among them, 2014 non-public raising money fo RMB45,712,999,989.30 Yuan. After deducting the various issuance expense of
RMB828,294,936.66 Yuan, the net raised funds via asset and cash subscription stood at RMB44,884,705,052.64, of which including the assets subscription of RMB8,532,999,999.30 Yuan
(Beijing State-owned Capital Operation and Management Center subscribed by 48.92% equities of Beijing BOE Display Technology Co., Ltd.) and RMB5,999,999,999.70 Yuan of the relevant
creditor's rights subscription with the issuance and raising funds investment projects of the Company that held by Hefei Jianxiang Investment Co., Ltd.. During the Reporting Period, the raised
funds gradually invested in each project according to the expected plans. The net amount of the raised funds of the 16BOE01 bonds was of RMB10 billion Yuan, and up to the period-end, the
used amount of the raised funds was of RMB8.963 billion Yuan, all of which used in supplementing the circulating funds which met with the agreement of the bond prospectus.
24
2016 Semi-annual Report of BOE Technology Group Co., Ltd.
(2) Projects invested with raised funds as promised
√ Applicable □ Not applicable
Unit: RMB Ten thousand Yuan
Project
Investment Material
changed or Investment Date when the Profit
Projects invested with raised capital Raised Input in the Accumulative progress up to Reach the change in the
not after project reaches the generated in
as promised and investments with capital input Reporting input up to the the period-end expected profit project
(including adjustment expected usable the Reporting
over-raised capital as promised Period period-end (2) (%)(3)＝ or not feasibility or
partially (1) condition Period
(2)/(1) not
changed)
Projects invested with raised capital as promised
1. Hefei 8.5G Line Project No 700,000 700,000 78,072 699,500 99.93% 1 Oct. 2014 451,480 Yes No
2. Touch Screen Production Line Not Not applicabl
No 250,000 250,000 0 250,000 100.00% 31 Dec. 2016 No
Project applicable e
Not Not applicabl
3. Erdos 5.5G Line Project No 400,000 400,000 97,130 380,000 95.00% 31 Dec. 2016 No
applicable e
Not applicabl
4. Chongqing 8.5G Line Project Yes 1,520,000 1,170,000 105,042 1,022,766 87.42% 31 Dec. 2015 374,413 No
e
5. Supplementing the working Not applicable Not Not applicabl
No 165,171 165,171 0 165,171 100.00% No
capital applicable e
6. Subscription to equity interests in Not applicable Not Not applicabl
No 853,300 853,300 0 853,300 100.00% No
BOE Display applicable e
7. Subscription to creditor’s rights Not applicable Not Not applicabl
No 600,000 600,000 0 600,000 100.00% No
on Hefei Jianxiang applicable e
8. 2016 Supplement circulating Not applicable Not Not applicabl
No 1,000,000 1,000,000 896,300 896,300 89.63% No
funds of the Company’s bonds applicable e
25
2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Subtotal of promised investment
-- 5,488,471 5,138,471 1,176,544 4,867,037 -- -- 825,893 -- --
projects
Investments of over-raised capital
Naught
Total -- 5,488,471 5,138,471 1,176,544 4,867,037 -- -- 825,893 -- --
Reason for failing to reach
scheduled progress or projected
No such cases in the Reporting Period.
income (explain one project by one
project)
Explanation on significant changes
Naught
in feasibility of projects
Amount, usage and usage progress
Not applicable
of over-raised capital
Change of the implementation
location of any raised funds Not applicable
investment project
Adjustment of the implementation
method of any raised funds Not applicable
investment project
Advanced input and exchange of
Not applicable
any raised funds investment project
Idle raised capital for temporarily
Not applicable
supplementing working capital
Outstanding raised funds in project
Not applicable
implementation and reasons
Usage and whereabouts of unused The unused raised capital will be input to promise investment projects as planned.
26
2016 Semi-annual Report of BOE Technology Group Co., Ltd.
raised capital
Problems found in the usage and
disclosure affairs of raised capital Naught
and other situations
Notes: among the realized benefits of the Reporting Period, Chongqing 8.5G Line Project and 30k production expansion project should be calculated together.
(3) Changes in raised-funds-invested projects
√ Applicable □ Not applicable
Unit: RMB Ten thousand Yuan
Total raised funds Investment Date when the Material change in
Actual input Actual cumulative Profit generated Reach the
Project before planned to be input progress up to the project reaches the the after-change
Project after change for Reporting input by in the Reporting expected profit
change for the project after period-end (3)＝ expected usable project feasibility
Period period-end (2) Period or not
change (1) (2)/(1) condition or not
Chongqing 8.5G 30K
Chongqing 8.5G Second quarter of
production expansion 350,000 66,857 185,242 52.93% 374,413 Not applicable No
Line Project 2016
project
Total -- 350,000 66,857 185,242 -- -- 374,413 -- --
Considering the narrowing profit margin for touch screen due to increasingly fierce competition, our analysis of market trends and
the actual situation of the project, the use of some raised funds has been adjusted according to the Proposal for Adjusting Use of
Some Raised Funds to Invest in Chongqing 8.5G Line 30K Production Expansion Project which was reviewed and approved at
Reasons for change, decision-making procedure and relevant
the 23rd Meeting of the Seventh Board of Directors dated 19 April 2015 and later at the 2014 Annual General Meeting dated 20
information disclosure (explain one project by one project)
May 2015. The adjustment details have been disclosed in the Announcement No. 2015-022 of BOE Technology Group Co., Ltd.
on Adjusting Use of 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 projected
Not applicable
income (explain one project by one project)
27
2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Explanation on significant changes in feasibility of projects
No significant changes.
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 30 Aug. 2016 www.cninfo.com.cn
28
2016 Semi-annual Report of BOE Technology Group Co., Ltd.
4. Analysis to main subsidiaries and shareholding companies
√ Applicable □ Not applicable
Main subsidiaries and shareholding companies:
Unit: RMB Yuan
Registered Operating
Company name Company variety Industry Main products/services Total assets Net assets Operating profit Net profit
capital revenues
Beijing BOE
Display Semi-conduct Development and RMB17.9 billion
Subsidiary 28,893,177,631.00 19,670,655,087.00 6,353,269,332.00 -757,755,043.00 -532,438,351.00
Technology Co., or display production of TFT-LCD Yuan
Ltd.
Investment, construction,
Hefei Xinsheng R&D, production and
Optoelectronics Semi-conduct sales of the relevant RMB19.50
Subsidiary 36,093,050,593.00 20,184,659,508.00 4,630,916,268.00 -1,005,868,405.00 -257,749,100.00
Technology Co., or display products of thin film billion Yuan
Ltd. transistor LCD and its
auxiliary products
Hefei BOE
Optoelectronics Semi-conduct R&D, production and RMB9.00 billion
Subsidiary 16,228,716,157.00 9,017,413,565.00 4,495,705,690.00 -161,830,098.00 -103,239,736.00
Technology Co., or display sales of TFT-LCD Yuan
Ltd.
Investment and
Chongqing BOE construction, R&D,
Optoelectronics Semi-conduct production and sales of RMB19.226
Subsidiary 34,725,579,791.00 18,846,342,653.00 3,827,127,846.00 -590,121,161.00 -429,443,581.00
Technology Co., or display the relevant products and billion Yuan
Ltd. the matched products of
TFT-LCD
29
2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Production and operation
Erdos of the relevant products of
Yuansheng Semi-conduct the active-matrix organic RMB8.904
Subsidiary 16,601,490,689.00 8,592,678,023.00 228,313,551.00 -121,789,239.00 -100,152,872.00
Optoelectronics or display light emitting diodes bililon Yuan
Co., Ltd. display devices and its
auxiliary products
Beijing BOE
Optoelectronics Semi-conduct R&D, design and RMB5.2069
Subsidiary 6,409,854,751.00 4,802,731,344.00 1,506,252,633.00 -156,004,597.00 -148,160,411.00
Technology Co., or display production of TFT-LCD billion Yuan
Ltd.
5. Significant projects invested with non-raised funds
□ Applicable √ Not applicable
No such cases in the Reporting Period.
30
2016 Semi-annual Report of BOE Technology Group Co., Ltd.
VI Performance forecast for January-September 2016
Warning of possible loss or considerable YoY movement in the accumulated net profit made during the period-beginning to the end
of the next Reporting Period, as well as the reasons
√ Applicable □ Not applicable
Forecast: Considerable decrease at the same direction
Type of the forecast data: range
Item January-September 2016 January-September 2015 +/- (%)
Forecast accumulative net
profit (RMB Ten thousand 5,000--10,000 199,239 decrease 95%-97%
Yuan)
Basic earnings per share
0.0014-0.0028- 0.057 decrease 95%-97%
(RMB Yuan/share)
This is mainly because the prices of our main products decreased significantly from a year earlier
due to the impact of the semi-conductor display sector. However, our performance for the third
quarter would increase significantly from the second quarter as the supply-demand situation has
Notes to the forecast improved since the second quarter, we accelerate launch of new products and improve our lean
management capability for lower costs, and the prices of our products are stabilizing and picking up
with a stronger market. In the fourth quarter, the market is expected to remain lively and we will
expectedly maintain stable earnings as we push through the relevant measures.
VII Explanation of the Board of Directors and the Board of Supervisors on the
“non-standard” auditor’s report issued by the CPAs firm for the Reporting Period
□ Applicable √ Not applicable
VIII Explanation of the Board of Directors on the issues mentioned in the “non-standard”
auditor’s report issued by the CPAs firm for last year
□ Applicable √ Not applicable
IX Profit distribution in the Reporting Period
Profit distribution plan implemented in the Reporting Period, especially execution and adjustment of any cash dividend plan and any
plan for converting capital reserve into share capital
√ Applicable □ Not applicable
On 20 May 2016, the 2015 Annual General Meeting reviewed and approved the Preliminary Plan for Profit Distribution 2015, which
31
2016 Semi-annual Report of BOE Technology Group Co., Ltd.
explicated the 2015 profits distribution proposal as: based on the total share capital of 35,153,067,743.00 shares, we would distribute
a cash dividend of RMB0.10 Yuan (tax included) per 10 shares to our shareholders by retained profits, which amounted to
RMB351,530,677.43 Yuan without any bonus share and any plan for converting capital reserve into share capital. The profits
distribution proposal had completed on 30 June 2016. For the details, please refer to the Announcement on the Execution of the 2015
Equity Distribution disclosed on 22 June 2016 (Announcement No.: 2016-050).
Special statement about the cash dividend policy
In compliance with the Company’s Articles of Association and the resolution of
Yes
the general meeting
Specific and clear dividend standard and ratio Yes
Complete decision-making procedure and mechanism Yes
Independent directors fulfilled their responsibilities and played their due role. Yes
Minority shareholders have the chance to fully express their opinion and desire
Yes
and their legal rights and interests were fully protected.
In adjustment or alteration of the cash dividend policy, the conditions and
Yes
procedure were in compliance with regulations and transparent.
X Preliminary plan for profit distribution and converting capital reserve into share capital for
the Reporting Period
□ Applicable √ Not applicable
The Company plans not to distribute cash dividends or bonus shares or convert capital reserve into share capital for the first half of
the year.
XI Visits paid to the Company for purposes of research, communication, interview, etc.
√ Applicable □ Not applicable
Main discussion and
Date of visit Place of meeting Way of visit Type of visitor Visitor materials provided by the
Company
Telephone
7 Jan. 2016 Teleconference Institution Sylebra Capital Management Main contents of
communication
discussion:
Meeting Room of Deutsche Bank, Ping An Asset 1. Information about
12 Jan. 2016 Field research Institution
the Company Management Co., Ltd, corporate operation and
Meeting Room of future development
15 Jan. 2016 Field research Institution ZBTD Asset Management Ltd.
the Company strategy.
Meeting Room of Credit Suisse (Hong Kong) 2. Industry situation and
25 Jan. 2016 Field research Institution
the Company Limited development tendency.
3. Information about
Meeting Room of
18 Feb. 2016 Field research Institution Bosera Funds certain production lines of
the Company
32
2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Telephone the Company;
19 Feb. 2016 Teleconference Institution Kontiki Capital Management
communication Materials provided: public
Sumitomo Mitsui Trust Ban, information such as the
Telephone
24 Feb. 2016 Teleconference Institution Mitsubishi UFJ Morgan Stanley corporate brochure.
communication
Securities
Surveyor Capital, Neuberger
Meeting Room of Berman Asia, 3W Fund
7 Mar. 2016 Field research Institution
the Company Management, Jefferies Finance
Group
Telephone
17 Mar. 2016 Teleconference Institution Alkeon Capital
communication
Meeting Room of
21 Apr. 2016 Field research Institution ADIA
the Company
Telephone
6 May 2016 Teleconference Institution Sylebra Capital
communication
Meeting Room of
10 May 2016 Field research Institution Trivest Advisors
the Company
GF Securities,
Guotai Junan Assets
Telephone
11 May 2016 Teleconference Institution Management, Bocom Main contents of
communication
Schroders, Orient Securities, discussion:
Shanghai Trust 1. Information about
Meeting Room of Sumitomo Asset corporate operation and
Mitsui
12 May 2016 Field research Institution
the Company Management Company; CLSA future development
strategy.
Meeting Room of
23 May 2016 Field research Institution Coatue Management 2. Industry situation and
the Company
development tendency.
Meeting Room of
27 May 2016 Field research Institution JP Morgan Asset Management 3. Information about
the Company
certain production lines of
Telephone the Company;
27 May 2016 Teleconference Institution Pictet Asset, Morgan Stanley
communication
Materials provided: public
Meeting Room of information such as the
6 Jun. 2016 Field research Institution Taikang Asset Management
the Company corporate brochure.
Mizuho Trust & Banking,
Telephone Mitsubishi UFJ Morgan Stanley
8 Jun. 2016 Teleconference Institution
communication Securities, Mitsubishi UFJ
Securities Holdings
Mitsubishi UFJ Morgan Stanley
Meeting Room of
13 Jun. 2016 Field research Institution Securities, Mitsubishi UFJ
the Company
Securities Holdings
16 Aug. 2016 Meeting Room of Field research Institution Broad Peak Investment
33
2016 Semi-annual Report of BOE Technology Group Co., Ltd.
the Company Advisers
Meeting Room of
24 Jun. 2016 Field research Institution Hillhouse Capital Management
the Company
Telephone
28 Jun. 2016 Teleconference Institution Fidelity International
communication
34
2016 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 √ Not applicable
The Company was not involved in any significant lawsuit or arbitration in the Reporting Period.
Other lawsuits
□ Applicable √ Not applicable
III. Media’s queries
□Applicable √Not applicable
There was no media’s common query during the Reporting Period.
IV. Bankruptcy reorganization
□ Applicable √ Not applicable
No event involving bankruptcy reorganization occurred to the Company in the Reporting Period.
35
2016 Semi-annual Report of BOE Technology Group Co., Ltd.
V. Asset transaction
1. Purchase of assets
√ Applicable □ Not applicable
Relationship
between the
Transactio Ratio of the net
Transactio Asset Related-pa transaction party
n price profit contributed
n party or acquired Influence on the Company’s Influence on the rty and the Disclosure Disclosure
(RMBTen Progress by the asset to the
ultimate or bought operation Company’s gain/loss transaction Company date index
thousand Company to the
controller in or not (applicable for
Yuan) total profit (%)
related-party
transactions)
The Company had
completed the equity
subscription delivery
There was no any Since the date of
process of VARITRONIX
0.4 billion significant influence on the purchase until the end
on 28 April 2016. After
Varitronix shares of continuity of the Company’s of the reporting for
which, the Company held www.cninfo
Internation Varitronix 117,236 business and the stability of listed companies net -0.51% No Not applicable 29 Apr. 2016
0.4 billion shares of .com.cn
al Limited Internation the management level from profit contribution
VARITRONIX, which
al Limited the assets purchase -297.61（ten thousand
covered bout 54.70% of the
business. yuan）
total shares capital and
became the controlling
shareholder of the latter.
Beijing 100% The Company had There was no any Since the date of
Shangjun equities of completed the delivery significant influence on the purchase until the end Not Not
42.03 0.74% No Not applicable
Properties Shangjun procedures such as the continuity of the Company’s of the reporting for applicable applicable
Developm Properties shareholders alternation on business and the stability of listed companies net
36
2016 Semi-annual Report of BOE Technology Group Co., Ltd.
ent Co., 25 April. the management level from profit contribution
Ltd. the assets purchase 434.6（ten thousand
business. yuan）
37
2016 Semi-annual Report of BOE Technology Group Co., Ltd.
2. Sale of assets
□ Applicable √ Not applicable
No such cases in the Reporting Period.
3. Business mergers
√ Applicable □ Not applicable
On 4 February 2016, the Company disclosed the Announcement on the Subscription of the Additional Issued Shares of Varitronix
International Limited (Announcement No.: 2016-011). The Company signed the Subscription Agreement between Varitronix
International Limited and BOE Technology Group Co., Ltd. on 3 February 2016 according to the development strategic of the
Company and based on the sufficient researches as well as demonstrations. The Company had subscripted more than 50% of the
Varitronix International Limited’s shares by self-owned funds and through the method of subscripting the additional issued shares of
the latter, and had integrated the superior resources as well as accelerated the execution of the global strategic of the vehicle-mounted
display career and as for the details, please refer to the relevant announcements. On 29 April 2016, the Company disclosed the
Announcement on the Completion on the Delivery of the Subscription of the Additional Issued Shares of Varitronix International
Limited (Announcement No.: 2016-043). The Company had completed the equity subscription delivery process of Varitronix
International Limited on 28 April 2016. After which, the Company held 0.4 billion shares of VARITRONIX, which covered bout
54.70% of the total shares capital and became the controlling shareholder of the latter and as for the details, please refer to the
relevant announcements.
VI Implementation of equity incentive and its influence
□ Applicable √ Not applicable
No such cases in the Reporting Period.
VII Significant related transactions
1. Related transactions arising from routine operation
□ Applicable √ Not applicable
No such cases in the Reporting Period.
2. Sale of assets
□ Applicable √ Not applicable
No such cases in the Reporting Period.
3. Business combination
√ Applicable □ Not applicable
The Company included Chongqing 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.
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
4. Credits and liabilities with related parties
□ Applicable √ Not applicable
No such cases in the Reporting Period.
5. Other significant related-party transactions
√ Applicable □ Not applicable
Naught
The website to disclose the interim announcements on significant related-party transactions
Disclosure date of the interim Website where the interim
Title of the interim announcement
announcement announcement was disclosed
Announcement on the Prediction of 2016 Annual Routine Related
25 Apr. 2016 www.cninfo.com.cn
Transaction 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 √ Not applicable
No such cases in the Reporting Period.
IX Significant contracts and fulfillment thereof
1. Trusteeship, contracting and leasing
(1) Trusteeship
□ Applicable √ Not applicable
No such cases in the Reporting Period.
(2) Contracting
□ Applicable √ Not applicable
No such cases in the Reporting Period.
(3) Leasing
□ Applicable √ Not applicable
No such cases in the Reporting Period.
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
2. Guarantees provided by the Company
√ Applicable □ Not applicable
Unit: RMB Ten thousand Yuan
Guarantees provided by the company for external parties (excluding those for subsidiaries)
Disclosure date on Actual occurrence Guarantee for
Amount for Actual guarantee Executed or
Guaranteed party relevant announcement date (date of Type of guarantee Period of guarantee a related party
guarantee amount not
of guaranteed amount agreement) or not
Not applicable
Guarantees provided by the company for its subsidiaries
Disclosure date on Actual occurrence Guarantee for
Amount for Actual guarantee Executed or
Guaranteed party relevant announcement date (date of Type of guarantee Period of guarantee a related party
guarantee amount not
of guaranteed amount agreement) or not
Erdos Yuansheng
Photoelectricity Co., 2 Apr. 2013 468,298 22 May 2013 431,874 Pledge 17 Jun. 2013 – 9 Jun. 2021 No No
Ltd.
Beijing BOE Display
14 Aug. 2014 1,047,923 30 Sep. 2014 306,902 Joint liability guarantee 27 Jan. 2011 – 26 Jan. 2020 No No
Technology Co., Ltd.
Hefei Xinsheng From the date of the
Photoelectric 14 Aug. 2014 137,000 8 Dec. 2014 22,000 Joint liability guarantee establishing the letter of No No
Technology Co., Ltd. guarantee – 28 Feb. 2019
Erdos Yuansheng
Optoelectronics Co., 14 Aug. 2014 468,298 30 Sep. 2014 431,874 Joint liability guarantee 17 Jun. 2013 – 9 Jun. 2021 No No
Ltd.
Chongqing BOE
14 Aug. 2014 1,412,446 29 Sep. 2014 1,010,155 Joint liability guarantee 5 Nov. 2014 – 5 Nov. 2022 No No
Photoelectric
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Technology Co., Ltd.
Hefei Xinsheng
Photoelectric 14 Aug. 2014 1,226,772 15 Jan. 2015 1,167,091 Joint liability guarantee 6 Jan. 2014 – 6 Jan. 2022 No No
Technology Co., Ltd.
Hefei BOE Photoelectric
14 Aug. 2014 738,119 12 Mar. 2015 358,231 Joint liability guarantee 23 Jul. 2010 – 23 Jul. 2019 No No
Co., Ltd.
Chongqing BOE From the date of the
Photoelectric 14 Aug. 2014 300,000 25 May 2015 175,000 Joint liability guarantee establishing the letter of No No
Technology Co., Ltd. guarantee – 31 Dec. 2020
Fuzhou BOE
29 Dec. 2015 – 28 Dec.
Photoelectric 10 Dec. 2015 1,326,240 29 Dec. 2015 234,115 Joint liability guarantee No No
2018
Technology Co., Ltd.
The total amount of guarantee limits for The total amount of actual occurrence of
subsidiaries approved in the Reporting Period 0 guarantee for subsidiaries in the Reporting -321,985
(B1) Period (B2)
The total balance of actual guarantee for
The total amount of guarantee for subsidiaries
6,656,797 subsidiaries up to the end of Reporting 3,705,368
approved up to the end of Reporting Period (B3)
Period (B4)
Guarantees provided by the subsidiaries for their subsidiaries
Disclosure date on Actual occurrence Guarantee for
Amount for Actual guarantee Executed or
Guaranteed party relevant announcement date (date of Type of guarantee Period of guarantee a related party
guarantee amount not
of guaranteed amount agreement) or not
Erdos Yuansheng Joint liability
14 Aug. 2014 468,298 30 Sep. 2014 431,874 17 Jun. 2013 – 9 Jun. 2021 No No
Photoelectric Co., Ltd. guarantee
The total amount of guarantee limits for The total amount of actual occurrence of
subsidiaries approved in the Reporting Period 0 guarantee for subsidiaries in the Reporting 0
(C1) Period (C2)
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
The total balance of actual guarantee for
The total amount of guarantee for subsidiaries
0 subsidiaries up to the end of Reporting 0
approved up to the end of Reporting Period (C3)
Period (C4)
The total amount of guarantee by the Company (the total amount of the first three items)
The total amount of actual occurrence of
The total amount of guarantee limits approved in
0 guarantee in the Reporting Period -321,985
the Reporting Period (A1+B1+C1)
(A2+B2+C2)
The total amount of guarantee approved up to the The total balance of actual guarantee up to
6,656,797 3,705,368
end of Reporting Period (A3+B3+C3) the end of Reporting Period (A4+B4+C4)
Proportion of total amount of actual guarantee (A4+B4+C4) in the net assets of the
48.37%
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
Note：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.，so C1、C2、C3、C4=0.
Explanation on guarantee that adopts complex method: Naught
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
(1) Illegal provision of guarantees for external parties
□ Applicable √ Not applicable
The Company did not illegally provide any guarantee for any external party in the Reporting Period.
3. Other significant contracts
□ Applicable √ Not applicable
There was no other significant contract of the Company in the Reporting Period.
4. Other significant transactions
□ Applicable √ Not applicable
The Company was not involved in any other significant transaction in the Reporting Period.
X. Implementation of commitments
1. 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 □ Not applicable
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
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
time of assets reorganization
Beijing State-owned Capital Operation and
Committed that the shares acquired from purchasing would not be
Management Center, Hefei Jianxiang Being
Commitments at the time of transferred from the first date of issuing the newly increased shares of 8 Apr. 2014 36 months
Investment Co., Ltd., Chongqing Capital executing
initial public issuance or the issuer within 36 months
Photoelectricity Investment Co., Ltd.
re-financing
Voluntarily committed that to lock-up the whole shares held by the Execution
Hefei Rongke Project Investment Co., Ltd. 9 Jan. 2014 24 months
Company for 24 months since 9 January 2014. completed
Committed not to decrease the shareholding of the non-restricted RMB
ordinary shares of 231,700 shares additional issued through the Execution
Beijing Electronics Holding Co., Ltd. 31 Jul. 2015 6 months
directional asset plan within 6 months during the execution period of completed
the additional issuance and after the completion of the execution.
Committed not to decrease the shareholding of the non-restricted RMB
Beijing BOE Investment & Development Co., ordinary shares of 6,311,100 shares additional issued through the Execution
24 Aug. 2015 6 months
Other commitments made Ltd. directional asset plan within 6 months during the execution period of completed
for medium and small the additional issuance and after the completion of the execution.
shareholders of the
Whole Directors, Supervisors, Senior Committed not to decrease the shareholding of the Company’s shares Execution
Company 11 Jul. 2015 6 months
Executives Staffs in future 6 months since 11 July 2015. completed
Beijing Electronics Holding Co., Ltd., Beijing
Committed not to decrease the shareholding of the Company’s shares Execution
BOE Investment & Development Co., Ltd., 28 Jan. 2016 6 months
in future 6 months since 28 January 2016. completed
Hefei Rongke Project Investment Co., Ltd.
Beijing BDA Technological Investment Committed not to decrease the shareholding of the Company’s shares Execution
14 Feb. 2016 6 months
Development Co., Ltd. in future 6 months since 14 Feb. 2016. completed
Executed timely or not? Yes
Detailed reason for failing
to execute and the next plan Naught
(if any)
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
XI Engagement and disengagement of the CPAs firm
Has the semi-annual financial report been audited?
□Yes √ No
This semi-annual report is not audited.
XII Punishments and rectifications
□ Applicable √ Not applicable
No such cases in the Reporting Period.
XIII Delisting risk due to violation of any law or regulation
□ Applicable √ Not applicable
No such cases in the Reporting Period.
XIV Other significant events
√ Applicable □ Not applicable
1.On 4 February 2016, the Company disclosed the Announcement on the Subscription of the Additional Issued Shares of Varitronix
International Limited (Announcement No.: 2016-011). The Company signed the Subscription Agreement between Varitronix
International Limited and BOE Technology Group Co., Ltd. on 3 February 2016 according to the development strategic of the
Company and based on the sufficient researches as well as demonstrations. The Company had subscripted more than 50% of the
Varitronix International Limited’s shares by self-owned funds and through the method of subscripting the additional issued shares of
the latter, and had integrated the superior resources as well as accelerated the execution of the global strategic of the vehicle-mounted
display career and as for the details, please refer to the relevant announcements. On 29 April 2016, the Company disclosed the
Announcement on the Completion on the Delivery of the Subscription of the Additional Issued Shares of Varitronix International
Limited (Announcement No.: 2016-043). The Company had completed the equity subscription delivery process of Varitronix
International Limited on 28 April 2016. After which, the Company held 0.4 billion shares of VARITRONIX, which covered bout
54.70% of the total shares capital and became the controlling shareholder of the latter and as for the details, please refer to the
relevant announcements.
2. On 27 Dec. 2014, the Company disclosed the Announcement on the Investment and Construction of the Production Line Project of
Chengdu G6 LTPS/AMOLE (Announcement No.: 2014-058), which approved to invest and construction a production line of G6
LTPS/AMOLE in Chengdu, Sichuan Province, to produce the products such as the high-end cell phone display as well as the cell
phone display, and to execute the investment, construction and the operating platform of the production line by regarding Chengdu
BOE Photoelectric Technology Co., Ltd. as the project company. On 12 March 2016, the Company disclosed the Announcement on
the Additional Investment on the Production Line Project of Chengdu G6 LTPS/AMOLE (Announcement No.: 2016-015), which
approved to continue to enlarge the investment scale and to alter the major products as the display products of AMOLED as well as
to construct the Phase II project of the production line of G6 AMOLED (flexibility) with the specific information on the relevant
announcements.
3. On 10 December 2015, the Company disclosed the Annoucement on the Investemnt by CDB Development Fund on Fuzhou G8.5
Line Project (Announcement No.: 2015-082), and on 12 March 2016, the Company disclosed the Announcement on the Additional
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Investment on the Investment on by CDB Development Fund on Fuzhou G8.5 Line Project (Announcement No.: 2016-016), which
approved the CDB Development Fund to additionallly investemnt with RMB1.6 billion Yuan on Fuzhou BOE Photoelectric
Technology Co., Ltd. and the event had been reviewed and approved by the 2016 2nd Extraordinary General Meeting of the Company
with the specific information on relevant announcements.
4.On 20 May 2016, the 2015 Annual General Meeting was held, at which the proposals on re-election were considered and approved.
The re-elections were thus completed. For details, please refer to the Announcement No. 2016-045 on Resolutions of 2015 Annual
General Meeting. On the same day, the First Meeting of the Eighth Board of Directors and the First Meeting of the Eighth Board of
Supervisors were convened. For details, see the Announcement No. 2016-047 on Resolutions of the First Meeting of the Eighth Board
of Directors and the Announcement No. 2016-048 on Resolutions of the First Meeting of the Eighth Board of Supervisors.
5. On 21 March 2016, the Company disclosed the Announcement of the Coupon Rate of the Corporate Bond (Phase I) which
Publicly Issued for the Qualified Investors in 2016 (Announcement No.: 2016-024), and the corportate bond mentioned (referred to
as “16BOE01” for short, and the code of “112358”) was of RMB10 billion Yuan with the ultimate coupon rate of 3.15%.
6. On 26 April. 2016, the Company disclosed the Announcement on Promoting the Life Insurance Company Project (Announcement
No.: 2016-037), which the Compnay planed to promote the Guoxiang Life Insurance Co., Ltd. with other 4 companies and the
transaction had been reviewed and approved by the 38th Session of the 7th Board of Directors of the Company with the specific
information on relevant announcements.
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
XV Corporate bonds
Corporate bonds publicly offered and listed on the stock exchange which were undue before the approval date of the Report or were due but could not be redeemed in full
Yes
1. Basic information of the corporate bonds
Balance
Name Abbr. Code Issue date Due date (RMBTen Interest rate Redemption method
thoursand Yuan)
Corporate bond (Phase I) publicly issued for Interests paid by year with
the qualified investors in 2016 of BOE 16BOE01 112358 21 Mar. 2016 21 Mar. 2021 1,000,000 3.15% the principal paid once when
Technology Group Co., Ltd. expired.
Trading place of the listing or transfer of the corporate bonds SZSE
Appropriate arrangement of the investors Qualified investors
Situation of the interest payment of the corporate bonds during
The interest of the bonds still needn’t to be paid up to the approved presentation date of the 2016 Semi-annual Report.
the Reporting Period
Execution situation of the relevant regulation during the
The 3rd year-end of the bonds duration of the Reporting Period affiliated the option of raising the coupon rate of the issuers and
Reporting Period if the corporate bonds affiliated by the special
the putting back option of the investors; the bonds still needn’t to be executed up to the approved presentation date of the 2016
clauses such as the option clause of the issuers or the investors
Semi-annual Report.
and the changeable clause (if applicable)
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
2. List of the bond trustee and the rating organization
Bond trustee
Room 2203, North Tower of Shanghai Securities Zhu Mingqiang, Han Yong,
Name China Securities Office address Contact Tel 021-68801565
Building, No. 528 of Pudong South Road, Shanghai Sheng Cheng
Rating organization executed the tracking rating on the corporate bonds during the Reporting Period:
F 12, PICC Building, No. 2 of Jianguomenwai Avenue, Chaoyang
Name United Ratings Co., Ltd. Office address
District, Beijing
Alternation reason, executed process and the influences on the
investors’ benefits if there was alternation of the d bond trustees,
Not applicable
rating organizations engaged by the Company during the
Reporting Period (if applicable)
3. Usage of the raised funds of the corporate bonds
Usage of the raised funds of the corporate bonds and the Strictly used according to the application committed in the prospectus and executed the internal decision-making process
execution process according to the regulations approved by the Board of Directors as well as the Annual General Meeting.
Year-end balance (RMB Ten thoursand Yuan ) 105,306.97
The Company signed the Three-party Supervision Agreement on the Account and Funds of the Corporate Bonds which
publicly Issued for the Qualified Investors in 2016 by BOE Technology Group Co., Ltd. with Beijing Ya’ao Branch of Ping
situation of the special account of the raised funds
An Bank Co., Ltd, Beijing Hepingli Branch of CHINA CITIC BANK CORPORATION LIMITED and Beijing Branch of
China Merchants Bank Co., Ltd., upon which set up the raised funds account that ensured the earmarking of the raised funds.
Whether the application of the raised funds met with the usage,
Yes
use plan and other agreement committed on the prospectus
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
4. Rating situation of the Company bonds information
On 25 January 2016, United Ratings Co., Ltd. (hereinafter referred to as “United Ratings”) issued the Analysis Report of the 2016
Corporate Bonds Credit Rating of BOE Technology Group Co., Ltd., with the issuers’ main body credit rating of AAA and AAA of
the credit rating of the current corporate bonds. The main body of the credit rating of the Company was AAA, where the rating
outlook was stable, which reflected the rather strong debt paying ability which would basically not be influenced by the disadvantage
economic environment and rather low default risks. The credit rating of the bonds of the Reporting Period was AAA, which reflected
the rather high bond credit quality and the rather low credit risks.
On 24 June 2016, United Ratings issued the Tracking Rating Report of the 2016 Corporate Bonds Credit Rating of BOE Technology
Group Co., Ltd., with the issuers’ main body credit rating of AAA for a long period , where the rating outlook was stable. Meanwhile,
the credit rating of the bonds of the Reporting Period was AAA, which reflected the rather high bond credit quality and the rather low
credit risks. The tracking rating report has been disclosed at www.szse.cn and www.unitedratings.com.cn on 25 June 2016.
5. Credit-adding mechanism, repayment plan and other repayment guarantee measures of the Company
bonds
There was no guarantee of the corporate bonds of the Reporting Period.
The profits of the main business of the issuers was the main resources of the debt service fund of the bonds of the Reporting Period.
The debt repayment plan was as follows: during the duration period of the bonds of the Reporting Period, every 21 March of each
year from Y2017 to Y2021 is the interest date of the last interest accrual year (if met with the legal holidays or rest days, should
postpone which to the subsequent 1st working day); if the investors executed the put-back right, the interest date of the part of the
put-back bonds is every 21 March from Y2017 to Y2021 (if met with the legal holidays or rest days, should postpone which to the
subsequent 1st working day). The principal of the current bonds should be paid at one time when expired. The payment date of the
current bonds would be 21 March 2021 (if met with the legal holidays or rest days, should postpone which to the subsequent 1st
working day); if the investors executed the put-back right, the payment date of the part of the put-back bonds would be 21 March
2019 (if met with the legal holidays or rest days, should postpone which to the subsequent 1st working day).
The repayment guarantee measures of the corporate bonds of the Reporting Period: to formulate the Meeting Regulations of the
Bondholders and the repayment guarantee measures; to formulate and strictly carry out the funds management plans; to fully exert
the functions of the bond trustees; to strictly disclose the information; at the same time, when expected to fail to repay the principals
and interest of the bonds on time or failed to repay the principals and interest of the bonds when expired, the Company will at least
adopt the measures of the execution of the capital expenditures projects such as to postpone the significant external investment and
the purchase as well as merger and so on that guarantee the repayment of the debts.
During the Reporting Period, there was no alternation of the credit-adding mechanism, debt repayment plan and other repayment
guarantee measures of the corporate bonds.
6. Convening situation of the bonds holders meeting during the Reporting Period
No convention of the bondholders was held during the duration of the current bonds up to the approval quotation date of the 2016
Semi-annual Report.
7. List of the duty execution of the bonds trustee during the Reporting Period
As the bond trustee of the Reporting Period, China Securities Co., Ltd. constantly paid attention on the operating, finance and credit
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
situation of the Company strictly according to the relevant laws and regulations such as the Regulations of the Offering and Trading
of the Corporate Bonds, Professional Code of Conduct of the Bond Trustee of the Corporate Bonds and vigorously executed the
responsibilities as a trustee as well as maintained the legal interests of the bondholders; there was no any situation conflicted to the
Company’s interests when executing the relevant responsibilities of the trustee.
8. Major accounting dates and the financial indicators up to the period-end of the Reporting Period and the
year-end of last year (or the Reporting Period and the same period of last year)
Increase/decrease of the Reporting Period
Item 30 June 2016 31 Dec. 2015
over the last year-end
Liquidity ratio 291.74% 220.83% 70.91%
Debt-to-assets ratio 52.17% 48.65% 3.52%
Quick ratio 264.99% 197.94% 67.05%
Increase/decrease of the Reporting Period
Item Reporting Period Same period of last year
over the same period of last year
EBITDA times interest earned 5.34 7.02 -23.93%
Loan repayment rate 100.00% 100.00% 0.00%
Interest coverage 100.00% 100.00% 0.00%
Major reasons about the above accounting data and financial indicators exceeded 30% of the YoY changes
√ Applicable □ Not applicable
The liquidity ratio increased of 70.91% over that of the last year-end, mainly due to the increase of the circulating assets such as the
monetary funds for the completion of the issuance of the corporate bonds of the first half year;
The quick ratio increased of 67. 05% over that of the last year-end, mainly due to the increase of the circulating assets such as the
monetary funds for the completion of the issuance of the corporate bonds of the first half year.
9. Restricted situation of the assets right up to the period-end
Unit: RMB Yuan
Item Book value at the period-end Restricted reason
Monetary capital 4,483,037,966.00 Pledged for guarantee and the guarantee deposits
Had completed the endorsement transfer as well as affiliated with
Notes receivable 350,139,361.00
right of resources and pledged for opening the notes payable
Inventories 0.00 Naught
Fixed assets 53,512,922,062.00 Mortaged for guarantee
Intangible assets 633,129,338.00 Mortgaged for guarantee
Investment properties 167,211,591.00 Mortgaged for guarantee
Construction in progress 9,138,827,087.00 Mortgaged for guarantee
Total 68,285,267,405.00 --
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
10. Overdue outstanding debt of the Company
□ Applicable √ Not applicable
No such cases of the Company during the Reporting Period.
11. List of the interests payment for other debts and debt financing instruments during the Reporting
Period
No such cases of the Company during the Reporting Period.
12. List of the acquired bank credit lines, usage and the repayment of the bank loans
The operation and reputation of the Company was favorable and the profitability as well as the debt payment ability of the Company
was strong. the Company maintained the long-term cooperative partnerships with China Development Bank, Ping An Bank and
Industrial and Commercial Bank. Up to 30 June 2016, the total amount of the credit line of the major cooperative banks with the
Company was of RMB18.3 billion Yuan with the used credit line of RMB7.6 billion Yuan and the unused amount of which was of
RMB10.7 billion Yuan.
No banks’ delinquent accounts of the Company during the Reporting Period.
13. List of the execution of the agreements or the commitments related to the Company bonds raising
specification during the Reporting Period
Up to the approval quotation date of the 2016 Semi-annual Report, the Company strictly carried out each agreement and commitment
of the current bond prospectus, and there was no situation of the inefficient execution of the relevant agreements or commitments
according to the bond prospectus by the Company that caused the negative influences on the bonds investors.
14. Significant events occurred during the Reporting Period
There was no any significant event that listed in the Clause No. 45 of Administrative Methods for the Listing and Transactions of the
Corporate Bonds up to the approved representation date of the 2016 Semi-annual Report.
15. Whether there was guarantor of the corporate bonds
□ Yes √ No
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Section VI Share Changes and Shareholders’ Profile
I Changes in shares
Unit: Share
Before Increase/decrease (+/-) After
Item Increase from
Number Percentage New issues Bonus shares Other Subtotal Number Percentage
capital reserve
I. Shares subject to trading moratorium 10,597,612,766 0.00% 0 0 0 -675,160,058 -675,160,058 9,922,452,708 28.23%
1. State-owned shares 0 0.00% 0 0 0 0 0 0 0.00%
2. Shares held by state-owned corporations 10,595,502,993 30.14% 0 0 0 -675,026,803 -675,026,803 9,920,476,190 28.22%
3. Shares held by domestic investors 2,109,773 0.01% 0 0 0 -133,255 -133,255 1,976,518 0.01%
Among which: shares held by domestic legal person 0 0.00% 0 0 0 0 0 0 0.00%
Shares held by domestic natural person 2,109,773 0.01% 0 0 0 -133,255 -133,255 1,976,518 0.01%
4. Shares held by foreign investors 0 0.00% 0 0 0 0 0 0 0.00%
Among which: shares held by foreign legal person 0 0.00% 0 0 0 0 0 0 0.00%
Shares held by foreign natural person 0 0.00% 0 0 0 0 0 0 0.00%
II. Shares not subject to trading moratorium 24,555,454,977 69.85% 0 0 0 675,160,058 675,160,058 25,230,615,035 71.77%
1. RMB ordinary shares 23,353,364,808 66.43% 0 0 0 675,160,058 675,160,058 24,028,524,866 68.35%
2. Domestically listed foreign shares 1,202,090,169 3.42% 0 0 0 0 0 1,202,090,169 3.42%
3. Overseas listed foreign shares 0 0.00% 0 0 0 0 0 0 0.00%
4. Others 0 0.00% 0 0 0 0 0 0 0.00%
III. Total shares 35,153,067,743 100.00% 0 0 0 0 0 35,153,067,743 100.00%
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Reasons of changes in shares
√ Applicable □ Not applicable
1. On 11 January 2016, the restricted committed shares newly added by the company’s shareholders in 2014 were relieved with an amount of 675,026,803 shares.
2. On 22 October 2015, there were changes in the Senior Executives with all of their holding shares transferred to shares subject to trading moratorium and up to the period-end, the lockup
period of that part of the shares expired, which were then transferred as shares not subject to trading moratorium with the total amount of 517,405 shares; on 20 May 2016, there were changes in
the Directors, Supervisors and Senior Executive Staffs owning to the completion of the general election of the Board of Directors and Board of Supervisors, and the 75% of the Company’s
shares held by the newly served Directors, Supervisors and Senior Executives Staffs were transferred as shares subject to trading moratorium with all of the shares held by the left Directors,
Supervisors and Senior Executives Staffs transferred to shares subject to trading moratorium, so the newly increased shares subject to trading moratorium to 384,150 shares and the total
decreased amount of the above was of 133,255 shares.
Approval for share changes
□ Applicable √ Not applicable
Transfer of share ownership
□ Applicable √ Not applicable
Effects of share changes on the basic earnings per share, diluted earnings per share, net assets per share attributable to ordinary shareholders of the Company and other financial indicators over
last year and the last Reporting Period
□ Applicable √ Not applicable
Other information that the Company considers necessary or is required by the securities regulatory authorities to disclose
□ Applicable √ Not applicable
Changes in the total shares, shareholder structure, asset structure and liability structure
□ Applicable √ Not applicable
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
II Total number of shareholders and their shareholdings
Unit: share
Total number of ordinary Total number of preference shareholders who had
1,395,044 (including 1,347,444 A-shareholders and 47,600
shareholders at the end of the resumed their voting right at the end of the Reporting 0
B-shareholders)
Reporting Period Period (if any)
Shareholdings of ordinary shareholders with a stake over 5% or top 10 ordinary shareholders
Increase/decrease Number of Pledged or frozen shares
Number of ordinary Number of
Nature of Shareholding of shares during non-restricted
Name of shareholder shares held at the end of restricted ordinary
shareholder percentage the Reporting ordinary shares Status Number
the Reporting Period shares held
Period held
Beijing State-owned Capital State-owned
11.56% 4,063,333,333 0 4,063,333,333 0
Management Center corporation
Chongqing Capital
State-owned
Photoelectricity Investment Co., 8.53% 3,000,000,000 0 3,000,000,000 0 Pledged 955,000,000
corporation
Ltd.
Hefei Jianxiang Investment Co., State-owned
8.13% 2,857,142,857 0 2,857,142,857 0
Ltd. corporation
Hua An Fund － ICBC －
Zhongrong International Trust
Other 4.45% 1,564,126,904 0 0 1,564,126,904
－ Zhongrong － RJ No. 1
Assembled Funds Trust Plan
China Securities Finance
Other 2.74% 963,281,982 -87,796,949 0 963,281,982
Corporation Limited
Beijing BOE Investment & State-owned
2.34% 822,092,180 0 0 822,092,180
Development Co., Ltd. corporation
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Beijing
Economic-technological State-owned
1.93% 677,423,641 0 0 677,423,641
Investment & Development corporation
Corp
Hefei Rongke Project State-owned
1.92% 675,026,803 0 0 675,026,803
Investment Co., Ltd. corporation
Beijing BDA Technological
Investment Development Co., Other 1.60% 564,000,000 0 0 564,000,000
Ltd.
Beijing Electronics Holding Co. On behalf of the
0.78% 273,735,583 0 0 273,735,583
Ltd. government
Strategic investor or general corporation
becoming a top ten ordinary shareholder due to Not applicable
placing of new shares (if any) (see Note 3)
1. Beijing State-owned Capital Management Center held 100% equities of Beijing Electronics Holding Co. Ltd..
2 As the controlling shareholder,Beijing Electronics Holdings Co., Ltd. held 66.25% equities of Beijing BOE Investment & Development
Co., Ltd.
3. Beijing Economic-technological Investment & Development Corp held 49% equities of Beijing BDA Technological Investment
Development Co., Ltd., and the above two companies were persons acting in concert and both were controlled by Beijing Economic and
Technological Development Zone Management Committee.
Explanation on associated relationship or/and
4. After the non-public issuing of the Company in 2014, Hefei Jianxiang Investment Co., Ltd. and Chongqing Capital Photoelectricity
persons acting in concert among the
Investment Co., Ltd. agreed to maintain unanimous 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.
5. After the non-public issuing of the Company in 2014, Beijing State-owned Capital Operation and Management Center handed over its 70%
shares to Beijing Electronics Holdings Co., Ltd. for management through Stock Management Protocol, and Beijing Electronics Holdings Co.,
Ltd. gained the incidental shareholders’ rights except for disposing right and usufruct of the shares, of which the rest 30% voting right
maintained unanimous with Beijing Electronics Holdings Co., Ltd. through the agreement according to Implementation Protocol of Voting
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Right.
6. Except for relationship among the above shareholders, the Company is not aware of whether the other top ten shareholders exist associated
relationship or not, or they are persons acting in concert or not.
Shareholdings of the top ten non-restricted ordinary shareholders
Type of shares
Name of shareholder Number of non-restricted ordinary shares held at the period-end
Type Number
Hua An Fund－ICBC－Zhongrong International
Trust－Zhongrong－RJ No. 1 Assembled Funds 1,564,126,904 RMB ordinary share 1,564,126,904
Trust Plan
China Securities Finance Corporation Limited 963,281,982 RMB ordinary share 963,281,982
Beijing BOE Investment & Development Co.,
822,092,180 RMB ordinary share 822,092,180
Ltd.
Beijing Economic-technological Investment &
677,423,641 RMB ordinary share 677,423,641
Development Corp
Hefei Rongke Project Investment Co., Ltd. 675,026,803 RMB ordinary share 675,026,803
Beijing BDA Technological Investment
564,000,000 RMB ordinary share 564,000,000
Development Co., Ltd.
Beijing Electronics Holding Co. Ltd. 273,735,583 RMB ordinary share 273,735,583
Central Huijin Asset Management Co., Ltd. 248,305,300 RMB ordinary share 248,305,300
Chongqing Jiangbei Mouth CBD Investment
107,095,238 RMB ordinary share 107,095,238
Group Co., Ltd.
Sinotrans Air Transportation Development Co.,
78,200,000 RMB ordinary share 78,200,000
Ltd.
Explanation on associated relationship among the 1. Beijing State-owned Capital Management Center held 100% equities of Beijing Electronics Holding Co. Ltd..
top ten shareholders of tradable share not subject 2 As the controlling shareholder, Beijing Electronics Holdings Co., Ltd. held 66.25% equities of Beijing BOE Investment & Development
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
to trading moratorium, as well as among the top Co., Ltd..
ten shareholders of tradable share not subject to 3. Beijing Economic-technological Investment & Development Corp held 49% equities of Beijing BDA Technological Investment
trading moratorium and top ten shareholders, or Development Co., Ltd., and the above two companies were persons acting in concert and both were controlled by Beijing Economic and
explanation on acting-in-concert Technological Development Zone Management Committee.
4. After the non-public issuing of the Company in 2014, Hefei Jianxiang 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 declaration of intention of Beijing BOE Investment & Development Co., Ltd. through the Implementation
Protocol of Voting Right.
5. After the non-public issuing of the Company in 2014, Beijing State-owned Capital Operation and Management Center handed over its 70%
shares to Beijing Electronics Holdings Co., Ltd. for management through Stock Management Protocol, and Beijing Electronics Holdings Co.,
Ltd. gained the incidental shareholders’ rights except for disposing right and usufruct of the shares, of which the rest 30% voting right
maintained unanimous with Beijing Electronics Holdings Co., Ltd. through the agreement according to Implementation Protocol of Voting
Right.
6. Except for relationship among the above shareholders, the Company is not aware of whether the other top ten shareholders exist associated
relationship or not, or they are persons acting in concert or not.
Explanation on top ten non-restricted ordinary
shareholders participating in the securities lending Not applicable
and borrowing business
Did any of the top 10 ordinary shareholders or the top 10 non-restricted ordinary shareholders of the Company conduct any promissory repo during the Reporting Period?
□ Yea √ No
No such cases in the Reporting Period.
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III Change of the controlling shareholder or the actual controller
Change of the controlling shareholder in the Reporting Period
□ Applicable √ Not applicable
No such cases in the Reporting Period.
Change of the actual controller in the Reporting Period
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IV Any shareholding increase plan proposed or implemented by any shareholder or its
act-in-concert parties during the Reporting Period
□ Applicable √ Not applicable
To the best knowledge of the Company, no shareholder or its act-in-concert party proposed or implemented any shareholding increase
plan during the Reporting Period.
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Section VII Preference Shares
□ Applicable √ Not applicable
No preference shares in the Reporting Period.
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Section VIII Directors, Supervisors and Senior Management
I Shareholding changes of directors, supervisors and senior management
√ Applicable □ Not applicable
Opening Increase in the Decrease in Closing Number of granted Number of restricted Number of granted
Incumbent
Name Office title shareholding Current Period the Current shareholding restricted shares at the shares granted in the restricted shares at
/former
(share) (share) Period (share) (share) period-beginning (share) Current Period (share) the period-end (share)
Wang Dongsheng Chairman of the Board Current 299,905 0 0 299,905 0 0 0
Xie Xiaoming Executive Director Current 7,680 0 0 7,680 0 0 0
Executive Director,
Chen Yanshun President of the Executive Current 260,000 0 0 260,000 0 0 0
Council (CEO)
Wang Jing Director Current 0 0 0 0 0 0 0
Zhang Jingsong Director Current 0 0 0 0 0 0 0
Director, Vice Chairman
of the Executive
Liu Xiaodong Current 250,000 0 0 250,000 0 0 0
Committee, President and
COO
Song Jie Director Current 0 0 0 0 0 0
Director, Executive
Committee Member, SVP,
Yao Xiangjun Joint Chief Operating Current 100,000 0 0 100,000 0 0 0
Officer and CEO of
Intelligence System
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Business Group
Lv Tingjie Independent Director Current 0 0 0 0 0 0 0
Wang Huacheng Independent Director Current 0 0 0 0 0 0 0
Hu Xiaolin Independent Director Current 0 0 0 0 0 0 0
Supervisory Board
Chen Ming Current 0 0 0 0 0 0 0
Chairman (Convener)
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
Shi Hong Supervisor Current 0 0 0 0 0 0 0
Zhuang Haoyu Supervisor Current 0 0 0 0 0 0 0
Miao Chuanbin Employee Supervisor Current 0 0 0 0 0 0 0
Xu Yangping Employee Supervisor Current 0 0 0 0 0 0 0
He Daopin Employee Supervisor Current 0 0 0 0 0 0 0
Executive Vice President,
Strategy Committee
Secretary of the Board
Dong Youmei Current 200,000 0 0 200,000 0 0 0
and Director of the
Technology and Product
Strategy Committee
Executive Committee
Sun Yun Member, Executive Current 155,981 0 0 155,981 0 0 0
Vice-President, CFO
Executive Committee
Yue Zhanqiu Current 150,000 0 0 150,000 0 0 0
Member, SVP, Chief
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Information Officer
Feng Liqiong SVP, Lead Counsel Current 150,000 0 0 150,000 0 0 0
Executive Committee
Zhong Huifeng Current 150,000 0 0 150,000 0 0 0
Member, SVP, CHO
Executive Committee
Member, Senior Vice
Xie Zhongdong President, Chief Risk Current 110,000 0 0 110,000 0 0 0
Control Officer, Chief
Auditor
Executive Committee
Member, SVP, CEO of
Zhang Zhaohong Current 150,000 0 0 150,000 0 0 0
Display Device Business
Group
Executive Committee
Member, SVP, CEO of
Feng Qiang Current 100,000 0 0 100,000 0 0 0
Health Services Business
Group
SVP, Chief Investment
Yang Anle Current 100,000 0 0 100,000 0 0 0
Officer
Tong Guanshan SVP, CTO Current 0 0 0 0 0 0 0
Vice-President, Board
Liu Hongfeng Secretary and Executive Current 100,000 0 0 100,000 0 0 0
Committee Secretary
Vice-President, CSO and
Jing Linfeng Executive Secretary of Current 100,000 0 0 100,000 0 0 0
Executive Committee
Ji Guoping Independent Director Former 0 0 0 0 0 0 0
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Yu Ning Independent Director Former 0 0 0 0 0 0 0
Zhou Yanwen Employee Supervisor Former 0 0 0 0 0 0 0
Li Xuezheng SVP Former 186,600 0 0 186,600 0 0 0
Total -- -- 2,573,157 0 0 2,573,157 0 0 0
II Changes in directors, supervisors and senior management
√ Applicable □ Not applicable
Name Office title Type of change Date Reason
Director, Executive Committee Member, SVP, Joint Chief Operating Officer and
Yao Xiangjun Elected 20 May 2016 Elected
CEO of Intelligence System Business Group
Hu Xiaolin Independent Director Elected 20 May 2016 Elected
He Daopin Employee Supervisor Elected 20 May 2016 Elected
Executive Vice President, Strategy Committee Secretary of the Board and Director of
Dong Youmei Appointed and dismisses 20 May 2016 Appointed and dismisses
the Technology and Product Strategy Committee
Zhang Zhaohong Executive Committee Member, SVP, CEO of Display Device Business Group Engaged 20 May 2016 Engaged
Feng Qiang Executive Committee Member, SVP, CEO of Health Services Business Group Engaged 20 May 2016 Engaged
Yang Anle SVP, Chief Investment Officer Engaged 20 May 2016 Engaged
Tong Guanshan SVP, CTO Engaged 20 May 2016 Engaged
Jing Linfeng Vice-President, CSO and Executive Secretary of Executive Committee Engaged 20 May 2016 Engaged
Ji Guoping Independent Director Left as service term expired 20 May 2016 Left as service term expired
Yu Ning Independent Director Left 1 Jun. 2016 Passed away
Zhou Yanwen Employee Supervisor Left as service term expired 20 May 2016 Left as service term expired
Li Xuezheng SVP Left as service term expired 20 May 2016 Left as service term expired
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2016 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 44,519,079,579.00 38,866,861,836.00
Settlement reserve 0.00 0.00
Interbank lendings 0.00 0.00
Financial assets at fair value through profit/loss 35,872,347.00 0.00
Derivative financial assets 0.00 0.00
Notes receivable 1,065,793,439.00 362,053,092.00
Accounts receivable 10,729,817,649.00 8,192,514,361.00
Accounts paid in advance 603,407,804.00 226,447,504.00
Premiums receivable 0.00 0.00
Reinsurance premiums receivable 0.00 0.00
Receivable reinsurance contract reserve 0.00 0.00
Interest receivable 107,730,119.00 194,518,278.00
Dividends receivable 6,651,480.00 0.00
Other accounts receivable 533,059,122.00 593,329,847.00
Financial assets purchased under agreements to resell 0.00 0.00
Inventories 7,200,449,513.00 6,609,406,228.00
Assets held for sale 0.00 0.00
Non-current assets due within one year 25,062,419.00 0.00
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Other current assets 13,707,855,848.00 8,712,017,517.00
Total current assets 78,534,779,319.00 63,757,148,663.00
Non-current assets:
Loans and advances to customers 0.00 0.00
Available-for-sale financial assets 446,293,769.00 454,096,246.00
Held-to-maturity investments 0.00 0.00
Long-term accounts receivable 0.00 0.00
Long-term equity investments 1,700,914,108.00 1,260,302,959.00
Investment property 1,210,463,063.00 1,227,099,427.00
Fixed assets 63,258,787,740.00 63,565,099,405.00
Construction in progress 20,213,753,534.00 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 2,605,562,535.00 2,679,239,255.00
R&D expenses 0.00 0.00
Goodwill 197,963,688.00 197,963,688.00
Long-term deferred expenses 348,527,169.00 341,526,213.00
Deferred tax assets 101,021,236.00 117,105,220.00
Other non-current assets 1,657,718,861.00 347,851,674.00
Total non-current assets 91,741,005,703.00 88,835,745,779.00
Total assets 170,275,785,022.00 152,592,894,442.00
Current liabilities:
Short-term borrowings 1,675,552,145.00 5,091,974,830.00
Borrowings from the Central Bank 0.00 0.00
Money deposits accepted and inter-bank deposits 0.00 0.00
Interbank borrowings 0.00 0.00
Financial liabilities at fair value through profit/loss 0.00 0.00
Derivative financial liabilities 0.00 0.00
Notes payable 491,128,454.00 343,277,037.00
Accounts payable 11,123,142,770.00 9,849,935,031.00
Accounts received in advance 546,562,992.00 386,538,903.00
Financial assets sold for repurchase 0.00 0.00
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Fees and commissions payable 0.00 0.00
Payroll payable 701,777,969.00 1,092,103,138.00
Taxes and fares payable 179,704,984.00 224,415,009.00
Interest payable 464,064,882.00 348,173,849.00
Dividends payable 491,253,794.00 9,651,170.00
Other accounts payable 8,230,251,535.00 8,864,929,878.00
Reinsurance premiums payable 0.00 0.00
Insurance contract reserve 0.00 0.00
Payables for acting trading of securities 0.00 0.00
Payables for acting underwriting of securities 0.00 0.00
Liabilities held for sale 0.00 0.00
Non-current liabilities due within one year 2,556,088,170.00 2,283,535,113.00
Other current liabilities 459,770,397.00 376,906,959.00
Total current liabilities 26,919,298,092.00 28,871,440,917.00
Non-current liabilities:
Long-term borrowings 41,917,658,001.00 36,341,198,145.00
Bonds payable 9,954,719,298.00 0.00
Of which: Preference shares 0.00 0.00
Perpetual bonds 0.00 0.00
Long-term accounts payable 10,423,573.00 0.00
Long-term payroll payable 0.00 0.00
Special payables 0.00 0.00
Provisions 16,060,269.00 16,457,010.00
Deferred income 2,041,535,060.00 2,406,244,676.00
Deferred tax liabilities 450,354,946.00 435,880,215.00
Other non-current liabilities 7,530,096,383.00 6,170,843,660.00
Total non-current liabilities 61,920,847,530.00 45,370,623,706.00
Total liabilities 88,840,145,622.00 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
Of which: Preference shares 0.00 0.00
Perpetual bonds 0.00 0.00
Capital reserve 39,029,109,178.00 39,018,900,467.00
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Less: Treasury shares 0.00 0.00
Other comprehensive income 63,812,600.00 90,153,009.00
Special reserve 0.00 0.00
Surplus reserve 592,242,059.00 592,242,059.00
Provisions for general risks 0.00 0.00
Retained earnings 1,762,909,191.00 2,630,912,286.00
Equity attributable to owners of the Company 76,601,140,771.00 77,485,275,564.00
Minority interests 4,834,498,629.00 865,554,255.00
Total owners’ equity 81,435,639,400.00 78,350,829,819.00
Total liabilities and owners’ equity 170,275,785,022.00 152,592,894,442.00
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 Yuan
Item Closing balance Opening balance
Current Assets:
Monetary funds 5,053,676,982.00 3,327,934,443.00
Financial assets measured by fair value with the changes be included
0.00 0.00
in the current gains and losses
Derivative financial assets 0.00 0.00
Notes receivable 100,000.00 0.00
Accounts receivable 66,135,207.00 59,397,930.00
Accounts paid in advance 6,964,617.00 6,825,464.00
Interest receivable 18,700,426.00 52,437,366.00
Dividend receivable 90,941,079.00 90,941,079.00
Other accounts receivable 1,407,340,717.00 1,281,026,259.00
Inventories 11,380,078.00 10,846,799.00
Assets divided available for sale 0.00 0.00
Non-current assets due within 1 year 0.00 0.00
Other current assets 4,189,913,087.00 109,578,393.00
Total current assets 10,845,152,193.00 4,938,987,733.00
Non-current assets:
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Available-for-sale financial assets 150,937,964.00 176,683,497.00
Held-to-maturity investments 0.00 0.00
Long-term accounts receivable 0.00 0.00
Long-term equity investment 85,876,227,448.00 77,551,596,817.00
Investing property 167,132,204.00 169,723,827.00
Fixed assets 820,308,709.00 846,738,969.00
Construction in progress 424,886,414.00 160,409,258.00
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 657,207,657.00 638,764,378.00
R&D expense 0.00 0.00
Goodwill 0.00 0.00
Long-term deferred expenses 111,300,710.00 104,917,711.00
Deferred income tax assets 0.00 0.00
Other non-current assets 3,292,057,372.00 2,551,631,765.00
Total of non-current assets 91,500,058,478.00 82,200,466,222.00
Total assets 102,345,210,671.00 87,139,453,955.00
Current liabilities:
Short-term borrowings 0.00 0.00
Financial liabilities measured by fair value with the changes be
0.00 0.00
included in the current gains and losses
Derivative financial liabilities 0.00 0.00
Notes payable 0.00 0.00
Accounts payable 29,865,401.00 13,975,839.00
Accounts received in advance 340,801,630.00 3,439,149.00
Employee’s compensation payable 92,644,343.00 111,350,496.00
Tax payable 14,948,749.00 34,371,553.00
Interest payable 102,672,710.00 5,091,297.00
Dividend payable 6,451,170.00 6,451,170.00
Other accounts payable 6,005,992,459.00 7,507,464,657.00
Liabilities divided available for sale 0.00 0.00
Non-current liabilities due within 1 year 670,000,000.00 670,000,000.00
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Other current liabilities 0.00 0.00
Total current liabilities 7,263,376,462.00 8,352,144,161.00
Non-current liabilities:
Long-term borrowings 10,828,240,000.00 4,140,720,000.00
Bonds payable 9,954,719,298.00 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 135,361,036.00 151,809,223.00
Deferred income tax liabilities 1,432,555.00 0.00
Other non-current liabilities 0.00 0.00
Total non-current liabilities 20,919,752,889.00 4,292,529,223.00
Total liabilities 28,183,129,351.00 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: preferred shares 0.00 0.00
Perpetual capital securities 0.00 0.00
Capital reserves 38,153,747,101.00 38,152,869,635.00
Less: Treasury stock 0.00 0.00
Other comprehensive income 87,740,701.00 109,786,796.00
Specific reserves 0.00 0.00
Surplus reserves 592,242,059.00 592,242,059.00
Retained profits 175,283,716.00 486,814,338.00
Total owners’ equity 74,162,081,320.00 74,494,780,571.00
Total liabilities and owners’ equity 102,345,210,671.00 87,139,453,955.00
3. Consolidated income statement
Unit: RMB Yuan
Item Reporting Period Same period of last year
1. Operating revenues 26,448,310,717.00 22,970,848,112.00
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Including: Sales income 26,448,310,717.00 22,970,848,112.00
Interest income 0.00 0.00
Premium income 0.00 0.00
Fee and commission income 0.00 0.00
2. Operating costs 28,837,030,184.00 21,082,716,877.00
Including: Cost of sales 23,987,091,158.00 17,509,610,448.00
Interest expenses 0.00 0.00
Fee and commission expenses 0.00 0.00
Surrenders 0.00 0.00
Net claims paid 0.00 0.00
Net amount provided as insurance contract reserve 0.00 0.00
Expenditure on policy dividends 0.00 0.00
Reinsurance premium 0.00 0.00
Business tax and surtaxes 92,930,181.00 114,336,421.00
Selling expenses 696,216,454.00 532,688,703.00
Administrative expenses 2,311,090,435.00 2,252,419,046.00
Finance costs 1,234,879,010.00 176,341,089.00
Asset impairment loss 514,822,946.00 497,321,170.00
Add: Profit on fair value changes (“-” means loss) 4,623,937.00 0.00
Return on investment (“-” means loss) 64,994,322.00 64,659,150.00
Including: Share of profit/loss of associates and joint ventures -11,180,961.00 10,557,037.00
Foreign exchange profit (“-” means loss) 0.00 0.00
3. Operating profit (“-” means loss) -2,319,101,208.00 1,952,790,385.00
Add: Non-operating income 1,793,732,882.00 424,771,458.00
Including: Profit on disposal of non-current assets 4,788,368.00 1,481,675.00
Less: Non-operating expense 5,876,931.00 13,347,411.00
Including: Loss on disposal of non-current assets 2,257,689.00 9,248,574.00
4. Total profit (“-” means loss) -531,245,257.00 2,364,214,432.00
Less: Corporate income tax 56,258,311.00 411,060,664.00
5. Net profit (“-” means loss) -587,503,568.00 1,953,153,768.00
Net profit attributable to owners of the Company -516,472,418.00 1,951,170,852.00
Minority interests’ income -71,031,150.00 1,982,916.00
6. After-tax net amount of other comprehensive income -26,340,409.00 71,443,148.00
After-tax net amount of other comprehensive income -26,340,409.00
71,517,997.00
attributable to owners of the Company
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
6.1 Other comprehensive income that will not be reclassified
0.00 0.00
into profit/loss
6.1.1 Changes in net liabilities or assets with a defined
0.00 0.00
benefit plan upon re-measurement
6.1.2 Share of other comprehensive income of investees
0.00 0.00
that cannot be reclassified into profit/loss under the equity method
6.2 Other comprehensive income to be subsequently -26,340,409.00
71,517,997.00
reclassified into profit/loss
6.2.1 Share of other comprehensive income of investees -4,418,377.00
0.00
that will be reclassified into profit/loss under the equity method
6.2.2 Profit/loss on fair value changes of available-for-sale -44,147,531.00
72,615,730.00
financial assets
6.2.3 Profit/loss on reclassifying held-to-maturity
0.00 0.00
investments into available-for-sale financial assets
6.2.4 Effective profit/loss on cash flow hedges 0.00 0.00
6.2.5 Currency translation differences 22,225,499.00 -1,097,733.00
6.2.6 Other 0.00 0.00
After-tax net amount of other comprehensive income
0.00 -74,849.00
attributable to minority interests
7. Total comprehensive income -613,843,977.00 2,024,596,916.00
Attributable to owners of the Company -542,812,827.00 2,022,688,849.00
Attributable to minority interests -71,031,150.00 1,908,067.00
8. Earnings per share
8.1 Basic earnings per share -0.015 0.055
8.2 Diluted earnings per share -0.015 0.055
Where business mergers under the same control occurred in the Reporting Period, the net profit achieved by the merged parties
before the business mergers was RMB0.00 Yuan, with the corresponding amount for the last period being RMB0.00 Yuan.
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 Reporting Period Same period of last year
1. Operating revenues 693,427,051.00 395,131,526.00
Less: Operating costs 58,815,389.00 65,325,004.00
Business tax and surtaxes 2,344,938.00 5,608,886.00
Selling expenses 4,386,080.00 1,674,119.00
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Administrative expenses 569,405,477.00 466,597,959.00
Finance costs 60,850,293.00 -74,073,299.00
Asset impairment loss 0.00 0.00
Add: profit on fair value changes (“-” means loss) 0.00 0.00
Return on investment (“-” means loss) 18,377,124.00 465,346,985.00
Including: Share of profit/loss of associates and joint ventures -11,180,961.00 10,557,037.00
2. Operating profit (“-” means loss) 16,001,998.00 395,345,842.00
Add: Non-operating income 27,771,591.00 75,382,251.00
Including: Profit on disposal of non-current assets 83,799.00 24,000.00
Less: Non-operating expense 374,260.00 71,665.00
Including: Loss on disposal of non-current assets 8,690.00 1,555.00
3. Total profit (“-” means loss) 43,399,329.00 470,656,428.00
Less: Corporate income tax 3,399,274.00 0.00
4. Net profit (“-” means loss) 40,000,055.00 470,656,428.00
5. After-tax net amount of other comprehensive income -22,046,095.00 32,512,068.00
5.1 Other comprehensive income that will not be reclassified into
0.00 0.00
profit and loss
5.1.1 Changes in net liabilities or assets with a defined benefit plan
0.00 0.00
upon re-measurement
5.1.2 Share of other comprehensive income of investees that
0.00 0.00
cannot be reclassified into profit/loss under the equity method
5.2 Other comprehensive income to be subsequently reclassified into
-22,046,095.00 32,512,068.00
profit/loss
5.2.1 Share of other comprehensive income of investees that will
-4,418,377.00 0.00
be reclassified into profit/loss under the equity method
5.2.2 Profit/loss on fair value changes of available-for-sale
-17,627,718.00 32,512,068.00
financial assets
5.2.3 Profit/loss on reclassifying held-to-maturity investments into
0.00 0.00
available-for-sale financial assets
5.2.4 Effective profit/loss on cash flow hedges 0.00 0.00
5.2.5 Currency translation differences 0.00 0.00
5.2.6 Other 0.00 0.00
6. Total comprehensive income 17,953,960.00 503,168,496.00
7. Earnings per share
7.1 Basic earnings per share 0.0011 0.013
7.2 Diluted earnings per share 0.0011 0.013
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5. Consolidated cash flow statement
Unit: RMB Yuan
Item Reporting Period Same period of last year
1. Cash flows from operating activities:
Cash received from sale of commodities and rendering of service 24,660,608,318.00 22,930,542,755.00
Net increase in money deposits from customers and interbank
0.00 0.00
placements
Net increase in loans from the Central Bank 0.00 0.00
Net increase in 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 in deposits of policy holders and investment fund 0.00 0.00
Net increase in disposal of financial assets at fair value through
0.00 0.00
profit/loss
Interest, fees and commissions received 0.00 0.00
Net increase in interbank borrowings 0.00 0.00
Net increase in funds in repurchase business 0.00 0.00
Tax refunds received 1,773,162,511.00 1,552,640,958.00
Cash received from other operating activities 1,554,539,195.00 822,344,215.00
Subtotal of cash inflows from operating activities 27,988,310,024.00 25,305,527,928.00
Cash paid for goods and services 18,580,530,133.00 14,687,024,246.00
Net increase in loans and advances to customers 0.00 0.00
Net increase in funds deposited in the Central Bank and
0.00 0.00
interbank placements
Cash paid for claims of original insurance contracts 0.00 0.00
Interest, fees and commissions paid 0.00 0.00
Cash paid as policy dividends 0.00 0.00
Cash paid to and for employees 3,000,913,336.00 2,722,826,479.00
Taxes and fares paid 793,428,583.00 905,519,911.00
Cash paid for other operating activities 2,879,351,017.00 1,536,765,804.00
Subtotal of cash outflows from operating activities 25,254,223,069.00 19,852,136,440.00
Net cash flows from operating activities 2,734,086,955.00 5,453,391,488.00
2. Cash flows from investing activities:
Cash received from retraction of investments 15,988,345,399.00 3,721,672,760.00
Cash received as return on investments 83,197,527.00 44,876,285.00
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Net cash received from disposal of fixed assets, intangible assets
81,891,572.00 1,358,403.00
and other long-term assets
Net cash received from disposal of subsidiaries or other business
0.00 0.00
units
Cash received from other investing activities 882,751,810.00 820,946,320.00
Subtotal of cash inflows from investing activities 17,036,186,308.00 4,588,853,768.00
Cash paid to acquire fixed assets, intangible assets and other
7,098,361,611.00 10,480,124,471.00
long-term assets
Cash paid for investment 21,154,818,990.00 5,662,064,789.00
Net increase in pledged loans 0.00 0.00
Net cash paid to acquire subsidiaries and other business units 0.00 0.00
Cash paid for other investing activities 1,416,268,111.00 16,928,514.00
Subtotal of cash outflows from investing activities 29,669,448,712.00 16,159,117,774.00
Net cash flows from investing activities -12,633,262,404.00 -11,570,264,006.00
3. Cash flows from financing activities:
Cash received from capital contributions 3,008,499,427.00 0.00
Including: Cash received from minority shareholder
0.00 0.00
investments by subsidiaries
Cash received as borrowings 9,321,691,631.00 9,068,701,432.00
Cash received from issuance of bonds 10,000,000,000.00 0.00
Cash received from other financing activities 379.00 0.00
Subtotal of cash inflows from financing activities 22,330,191,437.00 9,068,701,432.00
Repayment of borrowings 7,177,513,007.00 6,579,675,703.00
Cash paid for interest expenses and distribution of dividends or
1,247,945,239.00 673,357,186.00
profit
Including: dividends or profit paid by subsidiaries to minority
0.00 0.00
interests
Cash paid for other financing activities 34,652,203.00 116,385,019.00
Sub-total of cash outflows from financing activities 8,460,110,449.00 7,369,417,908.00
Net cash flows from financing activities 13,870,080,988.00 1,699,283,524.00
4. Effect of foreign exchange rate changes on cash and cash
-117,602,143.00 -77,675,858.00
equivalents
5. Net increase in cash and cash equivalents 3,853,303,396.00 -4,495,264,852.00
Add: Opening balance of cash and cash equivalents 36,182,738,217.00 36,504,707,160.00
6. Closing balance of cash and cash equivalents 40,036,041,613.00 32,009,442,308.00
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
6. Cash flow statement of the Company
Unit: RMB Yuan
Item Reporting Period Same period of last year
1. Cash flows from operating activities:
Cash received from sale of commodities and rendering of service 319,644,675.00 95,679,936.00
Tax refunds received 1,327,240.00 0.00
Cash received from other operating activities 1,475,704,664.00 1,023,436,526.00
Subtotal of cash inflows from operating activities 1,796,676,579.00 1,119,116,462.00
Cash paid for goods and services 158,972,319.00 140,067,732.00
Cash paid to and for employees 248,492,467.00 271,101,912.00
Taxes and fares paid 62,726,325.00 30,543,680.00
Cash paid for other operating activities 1,872,139,111.00 301,950,992.00
Subtotal of cash outflows from operating activities 2,342,330,222.00 743,664,316.00
Net cash flows from operating activities -545,653,643.00 375,452,146.00
2. Cash flows from investing activities:
Cash received from retraction of investments 4,022,161,515.00 0.00
Cash received as return on investments 29,558,084.00 193,252.00
Net cash received from disposal of fixed assets, intangible assets and
185,464.00 24,000.00
other long-term assets
Net cash received from disposal of subsidiaries or other business
0.00 0.00
units
Cash received from other investing activities 10,654,523.00 137,529,798.00
Subtotal of cash inflows from investing activities 4,062,559,586.00 137,747,050.00
Cash paid to acquire fixed assets, intangible assets and other
490,766,406.00 57,579,111.00
long-term assets
Cash paid for investment 16,374,019,482.00 7,457,064,789.00
Net cash paid to acquire subsidiaries and other business units 0.00 0.00
Cash paid for other investing activities 1,101,301,713.00 457,828.00
Subtotal of cash outflows from investing activities 17,966,087,601.00 7,515,101,728.00
Net cash flows from investing activities -13,903,528,015.00 -7,377,354,678.00
3. Cash flows from financing activities:
Cash received from capital contributions 0.00 0.00
Cash received as borrowings 6,940,000,000.00 3,149,242,200.00
Cash received from issuance of bonds 10,000,000,000.00 0.00
Cash received from other financing activities 379.00 0.00
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Subtotal of cash inflows from financing activities 16,940,000,379.00 3,149,242,200.00
Repayment of borrowings 423,155,128.00 0.00
Cash paid for interest expenses and distribution of dividends or
402,453,000.00 9,665,367.00
profit
Cash paid for other financing activities 1,324.00 2,148,923,200.00
Sub-total of cash outflows from financing activities 825,609,452.00 2,158,588,567.00
Net cash flows from financing activities 16,114,390,927.00 990,653,633.00
4. Effect of foreign exchange rate changes on cash and cash equivalents 10,403,270.00 -316,325.00
5. Net increase in cash and cash equivalents 1,675,612,539.00 -6,011,565,224.00
Add: Opening balance of cash and cash equivalents 3,322,215,443.00 8,671,876,589.00
6. Closing balance of cash and cash equivalents 4,997,827,982.00 2,660,311,365.00
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7. Consolidated statement of changes in owners’ equity
Reporting Period
Unit: RMB Yuan
Reporting Period
Equity attributable to owners of the Company
Item Other equity instruments Less: Other General Total owners’
Special Minority interests
Share capital Preference Perpetual Capital reserve Treasury comprehensive Surplus reserve risk Retained earnings equity
Other reserve
shares bonds shares income reserve
1. Balance at
the end of the 35,153,067,743.00 0.00 0.00 0.00 39,018,900,467.00 0.00 90,153,009.00 0.00 592,242,059.00 0.00 2,630,912,286.00 865,554,255.00 78,350,829,819.00
prior year
Add:
Changes 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
accounting
policies
Correction 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
errors in prior
periods
Business
mergers under
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
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
2. Balance at
the beginning 35,153,067,743.00 0.00 0.00 0.00 39,018,900,467.00 0.00 90,153,009.00 0.00 592,242,059.00 0.00 2,630,912,286.00 865,554,255.00 78,350,829,819.00
of the year
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3. Increase/ 10,208,711.00 0.00 -26,340,409.00 0.00 0.00 0.00 -868,003,095.00 3,968,944,374.00 3,084,809,581.00
decrease in the
period (“-” 0.00 0.00 0.00 0.00
means
decrease)
3.1 Total 0.00 0.00 -26,340,409.00 0.00 0.00 0.00 -516,472,418.00 -71,031,150.00 -613,843,977.00
comprehensive 0.00 0.00 0.00 0.00
income
3.2 Capital 270,220.00 0.00 0.00 0.00 0.00 0.00 0.00 4,048,708,054.00 4,048,978,274.00
increased and
0.00 0.00 0.00 0.00
reduced by
owners
3.2.1 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3,000,000,000.00 3,000,000,000.00
Ordinary
shares 0.00 0.00 0.00 0.00
increased by
shareholders
3.2.2 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital
increased by
0.00 0.00 0.00 0.00
holders of
other equity
instruments
3.2.3 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Amounts of
share-based
0.00 0.00 0.00 0.00
payments
charged to
owners’ equity
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3.2.4 270,220.00 0.00 0.00 0.00 0.00 0.00 0.00 1,048,708,054.00 1,048,978,274.00
0.00 0.00 0.00 0.00
Other
3.3 Profit 379.00 0.00 0.00 0.00 0.00 0.00 -351,530,677.00 -8,732,530.00 -360,262,828.00
0.00 0.00 0.00 0.00
distribution
3.3.1 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Appropriation
0.00 0.00 0.00 0.00
to surplus
reserve
3.3.2 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Appropriation
0.00 0.00 0.00 0.00
to general risk
provisions
3.3.3 379.00 0.00 0.00 0.00 0.00 0.00 -351,530,677.00 -8,732,530.00 -360,262,828.00
Appropriation
0.00 0.00 0.00 0.00
to owners (or
shareholders)
3.3.4 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
3.4 Internal 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
carry-forward
0.00 0.00 0.00 0.00
of owners’
equity
3.4.1 New 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
increase of
capital (or
0.00 0.00 0.00 0.00
share capital)
from capital
reserve
3.4.2 New 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
increase of
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
capital (or
share capital)
from surplus
reserve
3.4.3 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Surplus reserve
0.00 0.00 0.00 0.00
for making up
loss
3.4.4 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
3.5 Special 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
3.5.1 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Withdrawn for 0.00 0.00 0.00 0.00
the period
3.5.2 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Used in the 0.00 0.00 0.00 0.00
period
3.6 Other 0.00 0.00 0.00 0.00 9,938,112.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 9,938,112.00
4. Closing 39,029,109,178.00 0.00 63,812,600.00 0.00 592,242,059.00 0.00 1,762,909,191.00 4,834,498,629.00 81,435,639,400.00
35,153,067,743.00 0.00 0.00 0.00
balance
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Same period of last year
Unit: RMB Yuan
Same period of last year
Equity attributable to owners of the Company
Item Other equity instruments Other General Minority Total owners’
Less: Treasury Specific Retained
Share capital Preference Perpetual Capital reserve comprehensive Surplus reserve risk interests equity
Other shares reserve earnings
shares bonds income reserve
1. 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
prior year
Add:
Changes 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
accounting
policies
Correction 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
errors in prior
periods
Business
mergers under
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
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
2. Balance at
the beginning 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
of the year
3. Increase/
decrease in the -136,569,831.00 0.00 0.00 0.00 -65,492,974.00 -198,004,581.00 49,522,398.00 0.00 88,573,198.00 0.00 1,196,166,613.00 61,219,615.00 1,391,423,600.00
period (“-”
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
means
decrease)
3.1 Total
comprehensive 0.00 0.00 0.00 0.00 0.00 0.00 49,522,398.00 0.00 0.00 0.00 1,636,270,488.00 1,764,596.00 1,687,557,482.00
income
3.2 Capital
increased and
-136,569,831.00 0.00 0.00 0.00 -65,492,974.00 -198,004,581.00 0.00 0.00 0.00 0.00 0.00 61,255,019.00 57,196,795.00
reduced by
owners
3.2.1
Ordinary
shares 0.00 0.00 0.00 0.00 74,396,532.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 74,396,532.00
increased by
shareholders
3.2.2
Capital
increased by
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
holders of
other equity
instruments
3.2.3
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
charged to
owners’ equity
3.2.4
-136,569,831.00 0.00 0.00 0.00 -139,889,506.00 -198,004,581.00 0.00 0.00 0.00 0.00 0.00 61,255,019.00 -17,199,737.00
Other
3.3 Profit
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 88,573,198.00 0.00 -440,103,875.00 -1,800,000.00 -353,330,677.00
distribution
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3.3.1
Appropriation
0.00 0.00 0.00 0.00 0.00 0.00 0.00 88,573,198.00 0.00 -88,573,198.00 0.00 0.00
to surplus
reserve
3.3.2
Appropriation
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
3.3.3
Appropriation
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -351,530,677.00 -1,800,000.00 -353,330,677.00
to owners (or
shareholders)
3.3.4
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
3.4 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
3.4.1
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
reserve
3.4.2
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
reserve
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3.4.3
Surplus
reserve 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
loss
3.4.4
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
3.5 Special
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
3.5.1
Withdrawn 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
the period
3.5.2
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
3.6 Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
4. Closing
35,153,067,743.00 0.00 0.00 0.00 39,018,900,467.00 0.00 90,153,009.00 0.00 592,242,059.00 0.00 2,630,912,286.00 865,554,255.00 78,350,829,819.00
balance
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8. Statement of changes in owners’ equity of the Company
Reporting Period
Unit: RMB Yuan
Reporting Period
Other equity instruments Less:
Item Other comprehensive Special
Share capital Preference Perpetual Capital reserve Treasury Surplus reserve Retained earnings Total owners’ equity
Other income reserve
shares bonds shares
1. Balance at
the end of the 35,153,067,743.00 0.00 0.00 0.00 38,152,869,635.00 0.00 109,786,796.00 0.00 592,242,059.00 486,814,338.00 74,494,780,571.00
prior year
Add:
Changes in
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
accounting
policies
Correction of
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
errors in prior
periods
Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
2. Balance at
the beginning 35,153,067,743.00 0.00 0.00 0.00 38,152,869,635.00 0.00 109,786,796.00 0.00 592,242,059.00 486,814,338.00 74,494,780,571.00
of the year
3. Increase/
decrease in the
0.00 0.00 0.00 0.00 877,466.00 0.00 -22,046,095.00 0.00 0.00 -311,530,622.00 -332,699,251.00
period (“-”
means
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
decrease)
3.1 Total 0.00 0.00 -22,046,095.00 0.00 0.00 40,000,055.00 17,953,960.00
comprehensive 0.00 0.00 0.00 0.00
income
3.2 Capital 0.00 0.00 0.00 0.00 0.00 0.00 0.00
increased and
0.00 0.00 0.00 0.00
reduced by
owners
3.2.1 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Ordinary
shares 0.00 0.00 0.00 0.00
increased by
shareholders
3.2.2 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital
increased by
0.00 0.00 0.00 0.00
holders of
other equity
instruments
3.2.3 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Amounts of
share-based
0.00 0.00 0.00 0.00
payments
charged to
owners’ equity
3.2.4 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
Other
3.3 Profit 379.00 0.00 0.00 0.00 0.00 -351,530,677.00 -351,530,298.00
0.00 0.00 0.00 0.00
distribution
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3.3.1 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Appropriation
0.00 0.00 0.00 0.00
to surplus
reserve
3.3.2 379.00 0.00 0.00 0.00 0.00 -351,530,677.00 -351,530,298.00
Appropriation
0.00 0.00 0.00 0.00
to owners (or
shareholders)
3.3.3 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
Other
3.4 Internal 0.00 0.00 0.00 0.00 0.00 0.00 0.00
carry-forward
0.00 0.00 0.00 0.00
of owners’
equity
3.4.1 0.00 0.00 0.00 0.00 0.00 0.00 0.00
New increase
of capital (or
0.00 0.00 0.00 0.00
share capital)
from capital
reserve
3.4.2 0.00 0.00 0.00 0.00 0.00 0.00 0.00
New increase
of capital (or
0.00 0.00 0.00 0.00
share capital)
from surplus
reserve
3.4.3 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Surplus
0.00 0.00 0.00 0.00
reserve for
making up
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
loss
3.4.4 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
Other
3.5 Special 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
reserve
3.5.1 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Withdrawn for 0.00 0.00 0.00 0.00
the period
3.5.2 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Used in the 0.00 0.00 0.00 0.00
period
3.6 Other 0.00 0.00 0.00 0.00 877,087.00 0.00 0.00 0.00 0.00 0.00 877,087.00
4. Closing 38,153,747,101.00 0.00 87,740,701.00 0.00 592,242,059.00 175,283,716.00 74,162,081,320.00
35,153,067,743.00 0.00 0.00 0.00
balance
Same period of last year
Unit: RMB Yuan
Same period of last year
Other equity instruments Other
Item Less: Treasury Special Retained Total owners’
Share capital Preference Perpetual Capital reserve comprehensive Surplus reserve
Other shares reserve earnings equity
shares bonds income
1. 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 prior year
Add: Changes in
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
accounting policies
Correction of
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
errors in prior periods
Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
2. 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
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
beginning of the year
3. Increase/ decrease in
the period (“-” means -136,569,831.00 0.00 0.00 0.00 -66,089,412.00 -198,004,581.00 37,135,441.00 0.00 88,573,198.00 445,628,107.00 566,682,084.00
decrease)
3.1 Total
0.00 0.00 0.00 0.00 0.00 0.00 37,135,441.00 0.00 0.00 885,731,982.00 922,867,423.00
comprehensive income
3.2 Capital increased
-136,569,831.00 0.00 0.00 0.00 -66,089,412.00 -198,004,581.00 0.00 0.00 0.00 0.00 -4,654,662.00
and reduced by owners
3.2.1 Ordinary
shares increased by 0.00 0.00 0.00 74,396,532.00 0.00 0.00 0.00 0.00 74,396,532.00
shareholders
3.2.2 Capital
increased by holders of 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
3.2.3 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
charged to owners’
equity
3.2.4 Other -136,569,831.00 0.00 0.00 0.00 -140,485,944.00 -198,004,581.00 0.00 0.00 0.00 0.00 -79,051,194.00
3.3 Profit distribution 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 88,573,198.00 -440,103,875.00 -351,530,677.00
3.3.1
Appropriation to surplus 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 88,573,198.00 -88,573,198.00 0.00
reserve
3.3.2
Appropriation to owners 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -351,530,677.00 -351,530,677.00
(or shareholders)
3.3.3 Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
3.4 Internal
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
carry-forward of
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
owners’ equity
3.4.1 New increase
of capital (or share
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
capital) from capital
reserve
3.4.2 New increase
of capital (or share
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
capital) from surplus
reserve
3.4.3 Surplus
reserve for making up 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
loss
3.4.4 Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
3.5 Special reserve 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
3.5.1 Withdrawn
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
3.5.2 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
period
3.6 Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
4. Closing balance 35,153,067,743.00 0.00 0.00 0.00 38,152,869,635.00 0.00 109,786,796.00 0.00 592,242,059.00 486,814,338.00 74,494,780,571.00
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2016 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 and the affiliated subsidiaries (hereinafter referred to as “the Group” for short) divided into three major business group:
display device business, intelligent system products and intelligent heath service.
The details of the relevant information of the Company and its subsidiaries were on Notes IX. During the Reporting Period, as for the
situation of the newly increased and decreased subsidiaries, please refer to Notes VIII.
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
1. The financial statements have been prepared in accordance with the requirements of Accounting Standards for Business
Enterprises 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. 2016, the consolidated results of operations and results of operations and the
consolidated cash flows and cash flows in the first half year of 2016 of the Company.
2. 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.
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
4. Functional currency
1. 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.
2. 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
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
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
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 considers 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
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；
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
- 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
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
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
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
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
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
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.
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
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
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
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 splits the relevant liabilities and equities and firstly recognizes the fair value of the
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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.
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
Accounts receivable with the single amount of more than RMB50,000,000
for bad debts of the individually significant accounts
Yuan
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.
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(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 √Not applicable
In the groups, adopting balance percentage method to withdraw bad debt provision
□ Applicable √Not applicable
In the groups, adopting other methods to withdraw bad debt provision
√Applicable □Not applicable
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 impairment test is
Reason of individually
carried on individually for the individually insignificant receivables; if it is impaired after the impairment
withdrawing bad debt
test, the Company provides provision for impairment loss for the amount which is measured as the
provision:
difference between the asset's carrying amount and the present value of estimated future cash flows, and
withdraws relevant bad debt provision.
The Company provides provision for impairment loss for the amount which is measured as the difference
Withdrawal method for
between the asset's carrying amount and the present value of estimated future cash flows, and withdraws
bad debt provision:
relevant bad debt provision.
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.
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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.
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
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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. 22.
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
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
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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
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.
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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
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
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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 records 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.
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
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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.
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
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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
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
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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
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
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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
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
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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 sociability 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
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. Share-based payments
Recognition and measurement of share-based payments of the Company are based on the authentic, complete and effective
Share-based Payments Agreement. It is classified into equity-settled payment and cash-settled payment. The Company is based on an
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equity-settled payment.
(1) Equity-settled share-based payment
Where the Company receives employees’ service by share-based payment of equity settlement, the payment is measured by the fair
value of employees venting equity. The equity-settled share-based payment with an immediate vested right to receive employees’
service shall be accounted into the relevant costs and expenses on the granted date by reference to the fair value of equity instruments
and add capital reserves accordingly. The equity-settled share-based payment with a pending right to receive employees’ service
during the waiting period of service fulfilled or specified performance done shall take the current services into account of expenses,
costs and capital reserves by the reference to the fair value on the granted day of equity instruments on the every balance sheet date
during waiting period.
Recognition of fair value of equity instruments
As for the shares granted to employees, whose fair value shall be measured by the market price of the Company’s shares, and be
meanwhile modified by reference to the terms and conditions (excluding the feasible right conditions beyond market conditions ).
Where the transaction is not open to the market, the share price shall be measured by an estimated market price and be modified by
reference to the provisions and conditions.
As for the share options granted to employees, where the trade options similar to terms and conditions are transaction are
non-existent, whose fair value shall be estimated by option pricing models.
When the company is to recognize the fair value of equity instruments on granting day, it shall take the influence from the market
condition of vesting conditions and non vesting conditions specified in Share-based Payment Agreement. Where non vesting
conditions are existent in share-based payment, as long as the employees or the other party meet all the non market conditions of
venting conditions, such as service period, the Company shall recognize that it receives the costs and expenses corresponding to the
services.
(2) Cash-settled share-based payment
The cash-settled share-based payment shall be measured by the fair value of liabilities calculated on the basis of shares borne by the
Company or other equity instruments. The cash-settled share-based payment with immediate vested rights shall be accounted into
costs and expenses by reference to the fair value of liabilities borne by the Company on the grant day and add liabilities accordingly.
The cash-settled share-based payment with a pending right to receive employees’ service during the waiting period of service
fulfilled or specified performance done shall take the current services into account of expenses, costs and liabilities by the reference
to the fair value amount of liabilities borne by the Company based on the best estimation over the vested rights on the every balance
sheet date during waiting period.
The compliance to recognize the best estimation over the vested equity instruments: on the every balance sheet date during waiting
period, the Company makes a best estimation according to the latest follow-up information such as change in number of vested
employees, modifies the prediction over the quantity of vested equity instruments, and makes the best evaluation on the vested equity
instruments.
25. 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;
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– 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.
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.
26. 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.
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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.
27. 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
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.
28. 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 Notes V. 16 (3), are depreciated in accordance
with the Group’s depreciation policies described in Notes 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
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policies described in Notes V. 16 (3) and Notes 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.
29. 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
(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
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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.
30. Changes in main accounting policies and estimates
(1) Change of accounting policies
□ Applicable √ Not applicable
(2) Change of main accounting estimates
□ Applicable √ Not applicable
31. 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 laws. The remaining balance of output
VAT 5%, 6%, 11%, 13%, 17%
VAT, after subtracting the deductible input VAT of the period, is
VAT payable.
Consumption tax Naught Naught
Business tax Based on taxable revenue of sales 3%, 5%
City maintenance and construction tax Based on business tax paid, VAT payable and the VAT tax free 7%
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
for the Period
Enterprise income tax Based on taxable revenue 0 - 25%
Education surcharge and local education
Based on business tax paid 3%, 2%
surcharge
Notes of the disclosure situation of the taxpaying bodies with different enterprises income tax rate
Name Income tax rate
BOE Technology Group Co., Ltd. 15%
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%
Hefei Xinsheng Optoelectronics Technology Co., Ltd. 15%
Erdos Yuansheng Optoelectronics Co., Ltd. 15%
Chongqing BOE Optoelectronics Technology Co., Ltd. 15%
BOE (Hebei) Mobile Display Technology Co., Ltd. 15%
BOE Optical Science and Technology Co., Ltd. 15%
Beijing BOE Tea Valley Electronic Co., Ltd. 15%
Xiamen BOE Electronic Co., Ltd. 15%
Hefei BOE Display Light Source Co., Ltd. 15%
Beijing BOE Dedicated Display Technology Co., Ltd. 15%
Beijing BOE Vacuum Electronics Co., Ltd. 15%
Beijing BOE Vacuum Technology Co., Ltd. 15%
Beijing BOE Semi-conductor Co., Ltd. 15%
Hefei BOE Semi-conductor Co., Ltd. 15%
Beijing Asahi Electron Glass Co., Ltd. 15%
Beijing BOE Energy Technology Co., Ltd. 15%
Beijing BOE Multimedia Technology Co., Ltd. 15%
2. Tax preference
Name of company
Approval authority, approval document No. and
enjoying the preferential Basis of policy
valid period
policy
Hefei BOE In accordance with CS [2010] No. 100—Circular on On 4 November 2010, Ministry of Finance and
Optoelectronics Refund the Closing Retained Tax Deduction for State Administration of Taxation jointly issued
Technology Co., Ltd. the Imported Devices VAT of Partial Projects jointly the CS [2010] No. 100, approving to refund the
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
issued by Ministry of Finance and State Administration of closing retained tax deduction for the imported
Taxation, approving to refund the closing retained tax devices VAT of partial projects, such
deduction for the imported devices VAT of partial document executed from 1 December 2010.
projects.
Beijing BOE Display In accordance with CS [2011] No. 107—Circular on On 4 November 2010, Ministry of Finance and
Technology Co., Ltd. Refund the Closing Retained Tax Deduction for the State Administration of Taxation jointly issued
Hefei BOE Procured Equipments VAT of IC Enterprises jointly the CS [2011] No. 107, approving to refund the
Optoelectronics issued by Ministry of Finance and State Administration of closing retained tax deduction for the procured
Technology Co., Ltd. Taxation, approving to refund the closing retained tax equipments VAT of IC significant enterprises,
Hefei Xinsheng deduction for the procured equipments VAT of IC such document executed from 1 January 2011.
Optoelectronics significant enterprises.
Technology Co., Ltd.
Beijing BOE Display In accordance with CGS [2012] No. 17— Circular on On 4 November 2010, the Ministry of Finance
Technology Co., Ltd. Relevant Policies about Installed Tax Payment for the and General Administration of Customs jointly
Erdos Shengyuan VAT of Significant Imported Devices of New Flat Panel issued the CGS [2012] No. 17, approving he
Photoelectricity Co., Ltd. Display Items jointly issued by the Ministry of Finance new plat panel display significant enterprises to
and General Administration of Customs, approved the pay the VAT of imported new devices by
new plat panel display significant enterprises to pay the installment, such document executed from 1
VAT of imported new devices by installment. January 2011.
Beijing BOE In June 2012, the Ministry of Finance issued the CGS On 20 June 2012, the Ministry of Finance,
Optoelectronics [2012] No. 18, stipulating to provide the tariff and import General Administration of Customs and State
Technology Co., Ltd. VAT exemption and deduction for the building materials, Administration of Taxation jointly issued the CS
Chengdu BOE auxiliary systems, equipment accessories in clean room [2012] No. 18, providing the tax preferential
Optoelectronics (unavailable from domestic companies) imported by new policy of VAT and tariff for y new display
Technology Co., Ltd. display devices enterprises; and provide tariff exemption devices significant imported enterprises, the
Hefei BOE and deduction for production raw materials and valid period of such document is from 1 January
Optoelectronics consumption materials (unavailable from domestic 2012 to 31 December 2015.
Technology Co., Ltd. companies) imported by new display devices enterprises.
Beijing BOE Display
Technology Co., Ltd.
Hefei Xinsheng In April 2013, the Ministry of Finance issued the CGS In April 2013, the Ministry of Finance, General
Optoelectronics [2013] No. 25, affirmed that Hefei Xingchengguang Administration of Customs and State
Technology Co., Ltd. Electronic Technology Co., Ltd. and Erdos Yuansheng Administration of Taxation jointly issued the CS
Erdos Shengyuan Optoelectronics Co., Ltd. have the qualification of [2013] No. 25, providing the tax preferential
Photoelectricity Co., Ltd. enjoying the enterprise import taxes policies of the new policy of VAT and tariff for new display devices
type display device production. significant imported enterprises, the valid period
lasts to the end of Y2015.
Hefei Xinsheng According to the regulation of the “Notice on the Staging In September 2013, Ministry of Finance,
Optoelectronics Taxpaying Policy Enjoyed by the Third Batch of the New General Administration of Customs and State
Technology Co., Ltd. Type FPD Project” jointly issue by Ministry of Finance, Administration of Taxation jointly issued the
General Administration of Customs on CGS [2013] No. CGS [2013] No. 63, which approved the
63, which approved the enterprises with significant enterprises with significant projects of the new
projects of the new type FPD could pay the VAT of the type FPD could pay the VAT of the import link
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
import link of the key new devices by stage. of the key new devices by stage and the
document had been executed since March 2013.
Chongqing BOE In April 2014, the Ministry of Finance issued the CGS In April 2014, the Ministry of Finance, General
Optoelectronics [2014] No. 46, affirmed that Chongqing BOE Administration of Customs and State
Technology Co., Ltd. Optoelectronics Technology Co., Ltd. have the Administration of Taxation jointly issued the CS
qualification of enjoying the enterprise import taxes [2014] No. 46, providing the tax preferential
policies of the new type display device production. policy of VAT and tariff for y new 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
Item Closing balance Opening balance
Cash on hand 623,590.00 253,600.00
Bank deposits 40,035,404,987.00 36,182,484,617.00
Other monetary funds 4,483,039,369.00 2,684,123,619.00
Total 44,519,067,946.00 38,866,861,836.00
Of which: the total amount deposited in overseas 2,314,694,601.00 540,239,745.00
Other notes
Of which: the total amount deposited in overseas was equivalent to RMB2,314,694,601 Yuan (Y2015: RMB540,239,745 Yuan).
On 30 June 2016, the Company took USD56,477,250 among the other monetary capital (Y2015: USD36,550,000) as the pledge for
acquiring the short-term borrowings; took RMB268,000,000 Yuan among the other monetary capital (Y2014: RMB211,842,5600
Yuan) as the pledge for acquiring the long-term borrowings. he rest of the other monetary capital equivalent to RMB 3,840,526,025
Yuan (Y2015: RMB2,234,939,979 Yuan) was the margin deposit for security deposited in the commercial bank.
2. Financial assets measured by fair value and the changes be included in the current gains and losses
Unit: RMB Yuan
Item Closing balance Opening balance
Tradable financial assets 35,872,347.00 0.00
Of which: debt instruments investment 0.00 0.00
Equity instruments investment 35,872,347.00 0.00
Derivative instruments investment 0.00 0.00
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Other 0.00 0.00
Financial assets appointed to measure by fair value and the
0.00 0.00
changes be included in the current gains and losses
Of which: debt instruments investment 0.00 0.00
Equity instruments investment 0.00 0.00
Other 0.00 0.00
Total 35,872,347.00 0.00
Other notes:
Naught
3. Notes receivable
(1) Notes receivable listed by category
Item Closing balance Opening balance
Bank acceptance bill 1,064,007,897.00 353,803,012.00
Commercial acceptance bill 1,785,542.00 8,250,080.00
Total 1,065,793,439.00 362,053,092.00
(2) Notes receivable pledged by the Company at the period-end
Unit: RMB Yuan
Item Amount
Bank acceptance bill 3,444,240.00
Commercial acceptance bill 0.00
Total 3,444,240.00
(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 0.00 346,595,121.00
Commercial acceptance bill 0.00 100,000.00
Total 0.00 346,695,121.00
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(4) Notes transferred to accounts receivable because drawer of the notes fails to executed the contract or
agreement
Unit: RMB Yuan
Item Amount of the notes transferred to accounts receivable at the period-end
Naught
Other notes
Naught
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
4. 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
Withdrawal Book value Withdrawal Book value
Amount Proportion Amount Amount Proportion Amount
proportion proportion
Accounts receivable with
significant single amount for
0.00 0.00% 0.00 0.00% 0.00 0.00 0.00% 0.00 0.00% 0.00
which bad debt provision
separately accrued
Accounts receivable
withdrawn bad debt provision
10,712,724,771.00 99.50% 0.00 0.00% 10,712,724,771.00 8,175,630,706.00 99.17% 0.00 0.00% 8,175,630,706.00
according to credit risks
characteristics
Accounts receivable with
insignificant single amount
51,459,911.00 0.50% 34,367,033.00 66.78% 17,092,878.00 68,207,570.00 0.83% 51,323,915.00 75.25% 16,883,655.00
for which bad debt provision
separately accrued
Total 10,764,184,682.00 100.00% 34,367,033.00 0.32% 10,729,817,649.00 8,243,838,276.00 100.00% 51,323,915.00 0.62% 8,192,514,361.00
Accounts receivable with significant single amount for which bad debt provision separately accrued at the period-end
□ Applicable √ Not applicable
In the groups, accounts receivable adopting aging analysis method to accrue bad debt provision:
□ Applicable √ Not applicable
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In the groups, accounts receivable adopting balance percentage method to withdraw bad debt provision
□ Applicable √ Not applicable
In the groups, accounts receivable adopting other methods to accrue bad debt provision:
Name of the Withdrawal method of the bad Basic for recognizing the Closing balance Closing balance of Withdrawal
group bdet provision by group group the bad debt proportion
provision
Credit risks Other method Owns the similar credit risks 10,712,724,771.00 0.00 0.00%
portfolio 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 1,106,009.00 Yuan; the amount of the
collected part during the Reporting Period was of RMB 17,358,105.00 Yuan.
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
Naught
(3) The actual write-off accounts receivable
Unit: RMB Yuan
Item Amount
Customor 1 704,787.00
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 RMB3,953,427,105 Yuan that covered
36.73% of the total amount of the closing balance of the accounts receivable at the year-end, which no need to withdraw the bad debt
provision after the assessment.
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(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
5. Prepayment
(1) List by aging analysis
Unit: RMB Yuan
Closing balance Opening balance
Aging
Amount Proportion Amount Proportion
Within 1 year 595,829,763.00 98.74% 222,965,900.00 98.46%
1 to 2 years 4,698,889.00 0.78% 2,911,881.00 1.29%
2 to 3 years 2,598,766.00 0.43% 495,306.00 0.22%
Over 3 years 280,386.00 0.05% 74,417.00 0.03%
Total 603,407,804.00 -- 226,447,504.00 --
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
The total amount of the prepayment of the top 5 of the Group at the year-end was of RMB 388,173,252.00 Yuan that covered 64.33%
of the total amount of the closing balance of the prepayment at the year-end.
Other notes:
Naught
6. Interest receivable
(1) Category of interest receivable
Unit: RMB Yuan
Item Closing balance Opening balance
Fixed time deposit 107,730,119.00 194,518,278.00
Entrust loans 0.00 0.00
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Bond investment 0.00 0.00
Total 107,730,119.00 194,518,278.00
(2) Significant overdue interest
Whether occurred
Borrower Closing balance Overdue time Reason impairment and its
judgment basis
Naught
Other notes:
Naught
7. Dividend receivable
(1) Dividend receivable
Unit: RMB Yuan
Item (or investees) Closing balance Opening balance
Bank of Chongqing 6,651,480.00 0.00
Total 6,651,480.00 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
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8. 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
Withdrawal Book value Withdrawal Book value
Amount Proportion Amount Amount Proportion Amount
proportion proportion
Other accounts receivable with significant
single amount for which bad debt provision 0.00 0.00% 0.00 0.00% 0.00 0.00 0.00% 0.00 0.00% 0.00
separately accrued
Other accounts receivable withdrawn bad
debt provision according to credit risks 533,059,122.00 99.28% 0.00 0.00% 533,059,122.00 593,323,066.00 99.19% 0.00 0.00% 593,323,066.00
characteristics
Other accounts receivable with insignificant
single amount for which bad debt provision 3,889,682.00 0.72% 3,889,682.00 100.00% 0.00 4,833,965.00 0.81% 4,827,184.00 100.00% 6,781.00
separately accrued
Total 536,948,804.00 100.00% 3,889,682.00 0.72% 533,059,122.00 598,157,031.00 100.00% 4,827,184.00 0.81% 593,329,847.00
Other accounts receivable with significant single amount for which bad debt provision separately accrued at the period-end
□ Applicable √ Not applicable
In the groups, other accounts receivable adopting aging analysis method to accrue bad debt provision:
□ Applicable √ Not applicable
In the groups, other accounts receivable adopting balance percentage method to withdraw bad debt provision
□ Applicable √ Not applicable
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In the groups, other accounts receivable adopting other methods to accrue bad debt provision:
√ Applicable □ Not applicable
Name of the group Closing balance
Other accounts receivable Bad debt provision Withdrawal proportion
Credit risks portfolio 533,059,122.00 0.00 0.00%
Total 533,059,122.00 0.00 0.00%
(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 RMB0.00 Yuan; the amount of the reversed or
collected part during the Reporting Period was of RMB0.00 Yuan.
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
Naught
(3) The actual write-off other accounts receivable
Unit: RMB Yuan
Item Amount
Customer 1 937,502.00
Notes of the significant write-off other accounts receivable:
Unit: RMB Yuan
Whether from the
Name of the units Nature Amount Reason Process
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 58,601,506.00 105,110,154.00
Equity transfer fee of accounts receivable 200,000,000.00 200,000,000.00
Cash deposit and cash pledge 14,293,335.00 8,822,268.00
Other 264,053,963.00 284,224,609.00
Total 536,948,804.00 598,157,031.00
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
(5) Top 5 of the closing balance of the other accounts receivable colleted according to the arrears party
Unit: RMB Yuan
Proportion of the Closing balance of
total year end bad debt provision
Name of units Nature Closing balance Aging
balance of the
accounts receivable
Transfer amount of
Customer 1 the equities 200,000,000.00 Over 3 years 37.25% 0.00
receivable
Within 1 year, 1 to 2
Customer 2 Other 47,500,000.00 8.85% 0.00
years, 2 to 3 years
Customer 3 Other 41,200,000.00 Over 3 years 7.67% 0.00
Within 1 year, over 3
Customer 4 VAT refunds 27,638,301.00 5.15% 0.00
years
Customer 5 Export tax refunds 14,681,964.00 Within 1 year 2.73% 0.00
Total -- 331,020,265.00 -- 61.65% 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
Naught
(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
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9. 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 2,693,040,674.00 102,270,792.00 2,590,769,882.00 2,140,352,715.00 109,664,234.00 2,030,688,481.00
Goods in process 886,785,832.00 79,823,636.00 806,962,196.00 729,493,187.00 86,221,585.00 643,271,602.00
Inventory goods 4,387,258,314.00 695,053,572.00 3,692,204,742.00 4,670,195,081.00 838,807,123.00 3,831,387,958.00
Turnover
111,364,165.00 851,472.00 110,512,693.00 104,891,330.00 833,143.00 104,058,187.00
materials
Total 8,078,448,985.00 877,999,472.00 7,200,449,513.00 7,644,932,313.00 1,035,526,085.00 6,609,406,228.00
(2) Falling price reserves of inventory
Unit: RMB Yuan
Increased amount Decreased amount
Item Opening balance Closing balance
Withdrawal Other Reverse or write-off Other
Raw materials 109,664,234.00 53,905,798.00 0.00 61,299,240.00 0.00 102,270,792.00
Goods in process 86,221,585.00 59,716,137.00 0.00 66,114,086.00 0.00 79,823,636.00
Inventory goods 838,807,123.00 621,124,838.00 0.00 764,878,389.00 0.00 695,053,572.00
Turnover
833,143.00 107,688.00 0.00 89,359.00 0.00 851,472.00
materials
Total 1,035,526,085.00 734,854,461.00 0.00 892,381,074.00 0.00 877,999,472.00
Naught
(3) Notes of the closing balance of the inventory which includes capitalized borrowing expenses
Naught
(4) Completed unsettled assets formed from the construction contact at the period-end
Unit: RMB Yuan
Item Amount
Accumulative occurred cost 0.00
Accumulative recognized gross margin 0.00
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Less: estimated losses 0.00
Amount had executed settlement 0.00
Completed unsettled assets formed from the construction contract 0.00
Other notes:
Naught
10. 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
11. Non-current assets due within 1 year
Unit: RMB Yuan
Item Closing balance Opening balance
Bonds payable due within 1 year 25,062,419.00 0.00
Total 25,062,419.00 0.00
Other notes:
Naught
12. Other current assets
Unit: RMB Yuan
Item Closing balance Opening balance
VAT to be deducted 4,960,734,726.00 4,940,491,392.00
Pre-paid Income tax 123,459,555.00 123,348,135.00
Finance products 8,594,902,146.00 3,620,970,828.00
Other 28,759,421.00 27,207,162.00
Total 13,707,855,848.00 8,712,017,517.00
Other notes:
Naught
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13. Available-for-sale financial assets
(1) List of available-for-sale financial assets
Unit: RMB Yuan
Closing balance Opening balance
Item
Book balance Depreciation reserves Book value Book balance Depreciation reserves Book value
Available-for-sale liabilities 14,586,967.00 14,586,967.00
0.00 0.00 0.00 0.00
instruments:
Available-for-sale equity
150,279,655.00 604,375,901.00 150,279,655.00 454,096,246.00
instruments: 581,986,457.00 431,706,802.00
Measured by fair value 150,099,655.00 455,620,512.00 150,099,655.00 305,520,857.00
420,044,068.00 269,944,413.00
Measured by cost 161,942,389.00 180,000.00 161,762,389.00 148,755,389.00 180,000.00 148,575,389.00
Total 596,573,424.00 150,279,655.00 446,293,769.00 604,375,901.00 150,279,655.00 454,096,246.00
(2) Available-for-sale financial assets measured by fair value at the period-end
Unit: RMB Yuan
Available-for-sale equity Available-for-sale liabilities
Category of the available-for-sale financial assets Total
instruments instruments
Cost of the equity instruments/amortized cost of 347,029,503.00 11,857,879.00 358,887,382.00
the liabilities instruments
Fair value 269,944,413.00 14,586,967.00 284,531,380.00
Changes amount of the fair value accumulatively 73,014,565.00 2,729,088.00 75,743,653.00
recorded in other comprehensive income
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
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 Shareholding
Cash bonus of
proportion
Investee the Reporting
Period-begin Increase Decrease Period-end Period-begin Increase Decrease Period-end among the
Period
investees
Teralane
11,868,000.00 0.00 0.00 11,868,000.00 0.00 0.00 0.00 0.00 7.29% 0.00
Semiconductor Inc
Zhejiang BOE
Display Technology 570,032.00 0.00 0.00 570,032.00 0.00 0.00 0.00 0.00 7.03% 0.00
Co., Ltd.
Beijing Digital TV
National
6,250,000.00 0.00 0.00 6,250,000.00 0.00 0.00 0.00 0.00 12.50% 0.00
Engineering
Laboratory Co., Ltd.
DanhuaCapital, L.P. 23,308,625.00 0.00 0.00 23,308,625.00 0.00 0.00 0.00 0.00 5.48% 0.00
Danhua Capital II,
0.00 13,187,000.00 0.00 13,187,000.00 0.00 0.00 0.00 0.00 5.00% 0.00
L.P.
MetaCompany 30,733,954.00 0.00 0.00 30,733,954.00 0.00 0.00 0.00 0.00 5.66% 0.00
Kateeva 75,844,778.00 0.00 0.00 75,844,778.00 0.00 0.00 0.00 0.00 3.40% 0.00
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
Total 148,755,389.00 13,187,000.00 0.00 161,942,389.00 180,000.00 0.00 0.00 180,000.00 -- 0.00
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
(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 Available-for-sale liabilities
Available-for-sale equity instruments Total
financial assets instruments
Withdrawn impairment balance at the
150,279,655.00 0.00 150,279,655.00
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 value after the 0.00 0.00 0.00
period
Withdrawn impairment balance at the
150,279,655.00 0.00 150,279,655.00
period-end
(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 available-for-sale Fair value of the Falling range of the fair Continued falling time Withdrawn amount of Reason of not withdrawn
Investment cost
equity instruments period-end value against the cost (month) impairment the impairment
Naught
Other notes:
Naught
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14. Investment held-to-maturity
(1) List of investment held-to-maturity
Unit: RMB Yuan
Closing balance Opening balance
Item
Book balance Impairment provision Book value Book balance Impairment provision Book value
Convertible bonds for
17,960,946.00 17,960,946.00 0.00 17,960,946.00 17,960,946.00 0.00
HYDIS Technology
Total 17,960,946.00 17,960,946.00 0.00 17,960,946.00 17,960,946.00 0.00
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
(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:
Naught
15. Long-term accounts receivable
(1) List of the long-term accounts receivable
Unit: RMB Yuan
Closing balance Opening balance
Discount rate
Item Bad debt Bad debt
Book balance Book value Book balance Book value range
provision provision
Financing lease
0.00
amount
Total 0.00 0.00 --
(2) Long-term accounts receivable which terminate the recognition owning to the transfer of the financial
assets
Naught
(3) The amount of the assets and liabilities formed by the transfer and the continues involvement of
long-term accounts receivable
Naught
Other notes:
Naught
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16. Long-term equity investment
Unit: RMB Yuan
Increase/decrease
Cash
Gains and Withdra
bonus Closing
Reduce losses Adjustment wal of
Opening Changes or Closing balance of
Investees Additional d recognized of other impairm Oth
balance of other profits balance impairment
investment investm under the comprehen ent er
equity announc provision
ent equity sive income provisio
ed to
method n
issue
I. Joint ventures
Naught
II. Associated enterprises
Beijing
Nissin
Electroni
cs
Precision
-2,433,168.
Compone 3,011,145.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 577,977.00 0.00
00
nt Co.,
Ltd.
(Nissin
Electroni
cs)
Beijing
Nittan
Electroni
cs Co., 29,353,994.0 4,662,864.0 34,016,858.0
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Ltd. 0 0 0
(Nittan
Electroni
cs)
Beijing
Yingfei
Hailin
Venture -292,247.0
324,895.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 32,648.00 0.00
Capital 0
Managem
ent Co.,
Ltd.
134
2016 Semi-annual Report of BOE Technology Group Co., Ltd.
(Yingfei
Hailin)
Ordos
BOE
Energy
Investme
nt Co., 907,476,536. 907,469,291. 337,612,17
0.00 0.00 -7,245.00 0.00 0.00 0.00 0.00 0.00
Ltd. 00 00 7.00
(BOE
Energy
Investme
nt)
Beijing
Fly
117,872,528. 11,333,400. -312,506.0 -4,418,377. 877,087. 125,352,132.
Hailin 0.00 0.00 0.00 0.00 0.00
00 00 0 00 00 00
Investme
nt Center
TPV
Display
Technolo 23,715,205.0 1,718,405.0 25,433,610.0
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
gy 0 0 0
(China)
Co., Ltd.
Hefei
BOE
Display 85,566,875.0 444,000,00 -1,835,249. 527,731,626.
0.00 0.00 0.00 0.00 0.00 0.00 0.00
Technolo 0 0.00 00 00
gy Co.,
Ltd.
Beijing
Xindong
neng
Investme 370,261,522. -8,380,082. 361,881,440.
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
nt Fund 00 00 00
(limited
partnershi
p)
Beijing
Xindong
neng 1,921,429.00 0.00 0.00 755,313.00 0.00 0.00 0.00 0.00 0.00 2,676,742.00 0.00
Investme
nt
135
2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Managem
ent Co.,
Ltd.
Shenzhen
Yunyingg
u 58,411,007.0 -5,057,046. 53,353,961.0
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Technolo 0 00 0
gy Co.,
Ltd.
1,597,915,13 455,333,40 -11,180,961 -4,418,377. 877,087. 2,038,526,28 337,612,17
Subtotal 0.00 0.00 0.00 0.00
6.00 0.00 .00 00 00 5.00 7.00
1,597,915,13 455,333,40 -11,180,961 -4,418,377. 877,087. 2,038,526,28 337,612,17
Total 0.00 0.00 0.00 0.00
6.00 0.00 .00 00 00 5.00 7.00
Other notes:
Naught
17. Investment property
(1) Investment property adopted the cost measurement mode
√ Applicable □ Not applicable
Unit: RMB Yuan
Houses and construction in
Item Land use right Total
buildings progress
I. Original book value
1. Opening balance 854,334,573.00 659,779,217.00 0.00 1,514,113,790.00
2. Increased amount of the period 2,185,443.00 0.00 0.00 2,185,443.00
(1) Outsourcing 0.00 0.00 0.00 0.00
(2) Transfer of inventory\fixed 2,185,443.00 0.00
0.00 2,185,443.00
assets\project under construction
(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
(1) Disposal 0.00 0.00 0.00 0.00
(2) Other transfer 0.00 0.00 0.00 0.00
4. Closing balance 856,520,016.00 659,779,217.00 0.00 1,516,299,233.00
II. Accumulative depreciation and
accumulative amortization
1.Opening balance 202,669,357.00 84,345,006.00 0.00 287,014,363.00
2. Increased amount of the period 10,980,593.00 7,841,214.00 0.00 18,821,807.00
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
(1) Withdrawal or amortization 10,980,593.00 7,841,214.00 0.00 18,821,807.00
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 213,649,950.00 92,186,220.00 0.00 305,836,170.00
III. Depreciation reserves
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 642,870,066.00 567,592,997.00 0.00 1,210,463,063.00
2. Opening book value 651,665,216.00 575,434,211.00 0.00 1,227,099,427.00
(2) Investment property adopted fair value measurement mode
□ Applicable √ Not applicable
(3) Details of investment property failed to accomplish certification of property
Unit: RMB Yuan
Item Book value Reason
Naught
Other notes:
Naught
18. Fixed assets
(1) List of fixed assets
Unit: RMB Yuan
Item Houses and buildings Machinery equipment Transportation Total
I. Original
book value
1. Opening 19,601,399,268.00 73,620,519,802.00 827,314,126.00 94,049,233,196.00
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
balance
2.
Increased
215,249,034.00 3,988,385,268.00 304,417,413.00 4,508,051,715.00
amount of the
Period
(1)
75,224,490.00 222,952,979.00 199,184,557.00 497,362,026.00
Purchase
(2)
Transfer of
12,660,136.00 3,576,642,594.00 85,314,287.00 3,674,617,017.00
project under
construction
(3)
Enterprise
124,606,858.00 184,702,235.00 19,487,315.00 328,796,408.00
combination
increase
(4) Exchange
2,757,550.00 4,087,460.00 431,254.00 7,276,264.00
rate effect
3.
Decreased
7,189,815.00 74,699,760.00 19,608,676.00 101,498,251.00
amount of the
Period
(1)
Disposal or 7,189,815.00 74,699,760.00 19,608,676.00 101,498,251.00
Scrap
4. Closing
19,809,458,487.00 77,534,205,310.00 1,112,122,863.00 98,455,786,660.00
balance
II.
Accumulative
depreciation
1. Opening
2,133,566,863.00 27,422,371,406.00 282,075,525.00 29,838,013,794.00
balance
2.
Increased
326,960,108.00 4,353,060,520.00 129,850,252.00 4,809,870,880.00
amount of the
Period
(1)
326,960,108.00 4,353,060,520.00 129,850,252.00 4,809,870,880.00
Withdrawal
2.
Business 0.00 0.00 0.00 0.00
combination
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
not under the
same control
3.
Decreased
9,146,270.00 69,296,376.00 17,395,215.00 95,837,861.00
amount of the
Period
(1)
Disposal or 9,146,270.00 69,296,376.00 17,395,215.00 95,837,861.00
Scrap
4. Closing
2,451,380,701.00 31,706,135,550.00 394,530,562.00 34,552,046,813.00
balance
III.
Depreciation
reserves
1. Opening
1,161,260.00 643,793,809.00 1,164,928.00 646,119,997.00
balance
2.
Increased
0.00 0.00 0.00 0.00
amount of the
Period
(1)
0.00 0.00 0.00 0.00
Withdrawal
3.
Decreased
0.00 1,138,129.00 29,761.00 1,167,890.00
amount of the
Period
(1)
Disposal or 0.00 1,138,129.00 29,761.00 1,167,890.00
Scrap
4. Closing
1,161,260.00 642,655,680.00 1,135,167.00 644,952,107.00
balance
IV. Book
value
1. Closing
17,356,916,526.00 45,185,414,080.00 716,457,134.00 63,258,787,740.00
book value
2. Opening
17,466,671,145.00 45,554,354,587.00 544,073,673.00 63,565,099,405.00
book value
(2) List of temporarily idle fixed assets
Unit: RMB Yuan
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
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 11,291,665.00 3,722,783.00 0.00 7,568,882.00
(4) Fixed assets leased out from operation lease
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
19. Construction in progress
(1) List of construction in progress
Unit: RMB Yuan
Closing balance Opening balance
Item Depreciation Depreciation
Book balance Book value Book balance Book value
reserves reserves
The 8.5th
Generation
TFT-LCD Project
of Hefei 3,928,159,055.00 0.00 3,928,159,055.00 3,848,879,771.00 0.00 3,848,879,771.00
Xinsheng and the
touch screen
project
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AM-OLED
Project of
11,201,156,206.00 0.00 11,201,156,206.00 10,517,718,706.00 0.00 10,517,718,706.00
Yuansheng
Optoelectronics
The 8.5th
Generation
TFT-LCD Project 320,011,687.00 0.00 320,011,687.00 2,634,406,927.00 0.00 2,634,406,927.00
of Chongqing
BOE
The 8.5th
Generation
New Type
Semiconductor 2,104,296,436.00 0.00 2,104,296,436.00 460,185,529.00 0.00 460,185,529.00
Display Device
Project of
Fuzhou
The 6th
Generation
LTPS/AMOLED 1,463,379,941.00 0.00 1,463,379,941.00 126,732,620.00 0.00 126,732,620.00
Production Line
Project
Others 1,198,061,665.00 1,311,456.00 1,196,750,209.00 1,058,849,595.00 1,311,456.00 1,057,538,139.00
Total 20,215,064,990.00 1,311,456.00 20,213,753,534.00 18,646,773,148.00 1,311,456.00 18,645,461,692.00
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(2) Changes of significant construction in progress
Unit: RMB Yuan
Proportion
Of which: the
Amount that Other estimated Accumulative Capitalizatio
Project amount of the Capital
Increased transferred to decreased of the amount of n rate of the
Name o f item Estimated number Opening balance Closing balance progres capitalized resource
amount fixed assets of amount of project capitalized interests of
s interests of s
the period the period accumulativ interests the period
the period
e input
The 8.5th
Generation
Fund
TFT-LCD
raised
Project of 33,897,000,000.0 3,848,879,771.0 33,550,033.0 3,928,159,055.0
285,132,270.00 172,302,953.00 72.95% 72.95% 3,831,721.00 0.00 0.00% by
Hefei 0 0 0 0
issuing
Xinsheng and
share
the touch
screen project
AM-OLED Fund
Project of raised
20,020,000,000.0 10,517,718,706. 11,201,156,206. 682,504,672.0 119,185,762.0
Yuansheng 683,437,500.00 0.00 0.00 57.23% 57.23% 5.07% by
0 00 00 0 0
Optoelectronic issuing
s share
The 8.5th
Fund
Generation
raised
TFT-LCD 30,000,000,000.0 2,634,406,927.0 3,038,565,862. 11,262,294.0 152,277,930.0
735,432,917.00 320,011,687.00 71.04% 71.04% 0.00 4.97% by
Project of 0 0 00 0 0
issuing
Chongqing
share
BOE
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
The 8.5th
Generation Fund
New Type raised
26,985,000,000.0 1,644,110,908. 2,104,296,436.0
Semiconductor 460,185,529.00 0.00 0.00 7.63% 7.63% 4,384,554.00 4,384,554.00 2.38% by
0 00 0
Display Device issuing
Project of share
Fuzhou
The 6th
Generation
44,800,000,000.0 1,336,647,320. 1,463,379,941.0
LTPS/AMOLE 126,732,620.00 0.00 0.00 2.98% 2.98% 0.00 0.00 0.00% Others
0 00 0
D Production
Line Project
155,702,000,000. 17,587,923,553. 4,684,760,915. 3,210,868,815. 44,812,327.0 19,017,003,325. 690,720,947.0 275,848,246.0
Total -- -- --
00 00 00 00 0 00 0 0
(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
20. Intangible assets
(1) List of intangible assets
Unit: RMB Yuan
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Item Land use right Patent right Non-patent right Special technology Computer software Patent right and other Total
I. Original book value
1. Opening balance 1,300,366,510.00 1,007,722,861.00 572,981,178.00 959,121,583.00 3,840,192,132.00
2. Increased amount of
26,570,232.00 0.00 24,942,550.00 66,851,121.00 118,363,903.00
the Period
(1) Purchase 11,309,071.00 0.00 24,942,550.00 66,851,121.00 103,102,742.00
(2) Internal R&D 0.00 0.00 0.00 0.00 0.00
(3) Enterprise
15,261,161.00 0.00 0.00 0.00 15,261,161.00
combination increase
3. Decreased amount of the
69,590,054.00 0.00 0.00 0.00 69,590,054.00
Period
(1) Disposal 69,590,054.00 0.00 0.00 0.00 69,590,054.00
4. Closing balance 1,257,346,688.00 1,007,722,861.00 597,923,728.00 1,025,972,704.00 3,888,965,981.00
II. Accumulated amortization
1. Opening balance 111,021,207.00 521,825,815.00 315,817,972.00 211,816,430.00 1,160,481,424.00
2. Increased amount of
10,031,823.00 34,950,176.00 24,424,812.00 53,055,345.00 122,462,156.00
the Period
(1) Withdrawal 10,031,823.00 34,950,176.00 24,424,812.00 53,055,345.00 122,462,156.00
3. Decreased amount of
0.00 0.00 0.00 0.00 0.00
the Period
(1) Disposal 0.00 0.00 0.00 0.00 0.00
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4. Closing balance 121,053,030.00 556,775,991.00 340,242,784.00 264,871,775.00 1,282,943,580.00
III. Depreciation reserves
1. Opening balance 0.00 0.00 471,453.00 0.00 471,453.00
2. Increased amount of
0.00 0.00 0.00 0.00 0.00
the Period
(1) Withdrawal 0.00 0.00 0.00 0.00 0.00
3. Decreased amount of
0.00 0.00 0.00 0.00 0.00
the Period
(1) Disposal 0.00 0.00 0.00 0.00 0.00
4. Closing balance 0.00 0.00 471,453.00 0.00 471,453.00
IV. Book value
1. Closing book value 1,136,293,658.00 450,946,870.00 257,209,491.00 761,100,929.00 2,605,550,948.00
2. Opening book value 1,189,345,303.00 485,897,046.00 256,691,753.00 747,305,153.00 2,679,239,255.00
The proportion of 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% .
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
(2) Details of fixed assets failed to accomplish certification of land use right
Unit: RMB Yuan
Item Book value Reason
Naught
Other notes:
Naught
21. Goodwill
(1) Original book value of goodwill
Unit: RMB Yuan
Name of the investees or the
Opening balance Increase Decrease Closing balance
events formed goodwill
Beijing Yinghe Century Co.,
42,940,434.00 0.00 0.00 0.00 0.00 42,940,434.00
Ltd.
Gaochuang (Suzhou) Electronics
8,562,464.00 0.00 0.00 0.00 0.00 8,562,464.00
Co., Ltd.
Beijing BOE Optoelectronics
4,423,876.00 0.00 0.00 0.00 0.00 4,423,876.00
Technology Co., Ltd.
BOE Healthcare Co., Ltd. 146,460,790.00 0.00 0.00 0.00 0.00 146,460,790.00
Total 202,387,564.00 0.00 0.00 0.00 0.00 202,387,564.00
(2) Impairment provision of goodwill
Unit: RMB Yuan
Name of the investees or the
Opening balance Increase Decrease Closing balance
events formed goodwill
Beijing BOE Optoelectronics
4,423,876.00 0.00 0.00 0.00 0.00 4,423,876.00
Technology Co., Ltd.
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:
See V.22
Other notes:
Naught
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
22. Long-term unamortized expenses
Unit: RMB Yuan
Amortization
Item Opening balance Increased amount Decrease Closing balance
amount
Cost of operating lease assets
10,254,474.00 0.00 849,877.00 0.00 9,404,597.00
improvement
Cost of construction and use of
144,183,461.00 0.00 7,685,112.00 0.00 136,498,349.00
public facilities
Others 187,088,278.00 37,769,010.00 21,825,651.00 407,414.00 202,624,223.00
Total 341,526,213.00 37,769,010.00 30,360,640.00 407,414.00 348,527,169.00
Other notes:
Naught
23. 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 tax Deductible temporary Deferred income tax
difference assets difference assets
Assets impairment
92,819,038.00 22,608,317.00 153,660,274.00 38,165,517.00
provision
Unrealized internal sales
0.00 0.00 0.00 0.00
gain and loss
Deductible losses 122,194,828.00 30,548,707.00 122,194,824.00 30,548,708.00
Differences of
depreciation and 23,677.00 3,553.00 23,677.00 3,553.00
amortization
Evaluation increment of
subsidiary with
155,995,455.00 38,998,864.00 158,772,372.00 39,693,093.00
immovable property
investment
Others 35,641,439.00 8,861,795.00 34,656,467.00 8,694,349.00
Total 406,674,437.00 101,021,236.00 469,307,614.00 117,105,220.00
(2) Deferred income tax liabilities had not been off-set
Unit: RMB Yuan
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Closing balance Opening balance
Item Deductible Deferred income tax
Deductible temporary difference Deferred income tax liabilities
temporary difference liabilities
Asset evaluation 1,156,119,006.00 286,170,396.00
increment of
business
1,141,068,053.00 285,267,013.00
combination not
under the same
control
Change in fair value
of available-for-sale 28,168,564.00 4,647,813.00 28,168,564.00 4,647,813.00
financial assets
Differences of
depreciation and 480,159,642.00 72,516,358.00 391,241,676.00 58,686,251.00
amortization
Changes in the fair
value of financing 19,748,041.00 2,962,206.00 21,473,098.00 3,220,965.00
products
Long-term equity
560,387,820.00 84,058,173.00 560,387,820.00 84,058,173.00
investment
Total 2,244,583,073.00 450,354,946.00 2,142,339,211.00 435,880,215.00
(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 the liabilities after off-set at assets and liabilities at the liabilities after off-set at
period-end the period-end period-begin the period-begin
Deferred income tax
0.00 101,021,236.00 0.00 117,105,220.00
assets
Deferred income tax
0.00 450,354,946.00 0.00 435,880,215.00
liabilities
(4) List of unrecognized deferred income tax assets
Unit: RMB Yuan
Item Closing balance Opening balance
Deductible temporary difference 3,653,860,881.00 4,004,972,209.00
Deductible losses 3,177,186,993.00 1,555,680,596.00
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Total 6,831,047,874.00 5,560,652,805.00
(5) Deductible losses of unrecognized deferred income tax assets will due the following years
Unit: RMB Yuan
Years Closing amount Opening amount Notes
Y 2016 0.00 99,532,368.00 Naught
Y 2017 398,831,789.00 280,647,569.00 Naught
Y 2018 179,900,672.00 185,377,579.00 Naught
Y 2019 191,711,373.00 231,252,534.00 Naught
Y 2020 731,725,605.00 758,870,546.00 Naught
Y 2021 1,675,017,554.00 0.00 Naught
Total 3,177,186,993.00 1,555,680,596.00 --
Other notes:
Naught
24. Other non-current assets
Unit: RMB Yuan
Item Closing balance Opening balance
Prepayment for construction 867,921,051.00 38,134,743.00
Prepayment for procurement of fixed assets 152,275,185.00 225,828,407.00
Prepayment for procurement of intangible
121,052,479.00 1,348,349.00
assets
The VAT collection of imported equipment 507,195,223.00 75,720,270.00
Others 9,274,923.00 6,819,905.00
Total 1,657,718,861.00 347,851,674.00
Other notes:
Naught
25. Short-term loans
(1) Category of short-term loans
Unit: RMB Yuan
Item Closing balance Opening balance
Pledge loan 876,461,166.00 223,892,165.00
Mortgage loan 10,000,000.00 10,000,000.00
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Guaranteed loan 172,411,200.00 3,896,160,000.00
Credit loan 616,679,779.00 961,922,665.00
Total 1,675,552,145.00 5,091,974,830.00
Notes of short-term loans category
Naught
(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 RMB0.00 Yuan, of which the situation
of the significant overdue but not returned short-term borrowings as follows:
Unit: RMB Yuan
Entity Closing balance Borrowing rate Overdue time Overdue rate
Naught
Other notes:
Naught
26. Notes payable
Unit: RMB Yuan
Category Closing balance Opening balance
Trade acceptance 0.00 0.00
Bank acceptance bill 491,128,454.00 343,277,037.00
Total 491,128,454.00 343,277,037.00
The total amount of the due but not pay notes payable at the period-end was of RMB0.00 Yuan.
27. Accounts payable
(1) List of accounts payable
Unit: RMB Yuan
Item Closing balance Opening balance
Account payable of related party 10,231,111.00 11,313,820.00
Account payable of third party 11,112,911,659.00 9,838,621,211.00
Total 11,123,142,770.00 9,849,935,031.00
(2) Notes of the accounts payable aging over one year
Unit: RMB Yuan
Item Closing balance Unpaid/ Un-carry-over reason
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Naught
Other notes:
Naught
28. Advance from customers
(1) List of advance from customers
Unit: RMB Yuan
Item Closing balance Opening balance
Advance from customers of related party 0.00 2,700.00
Advance from customers of third party 546,562,992.00 386,536,203.00
Total 546,562,992.00 386,538,903.00
(2) Significant advance from customers aging over one year
Unit: RMB Yuan
Item Closing balance Unpaid/ Un-carry-over reason
Naught
(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
0.00
contract
Other notes:
Naught
29. Payroll payable
(1) List of Payroll payable
Unit: RMB Yuan
Item Opening balance Increase Decrease Closing balance
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
I. Short-term salary 1,051,226,920.00 2,902,632,223.00 3,294,781,217.00 659,077,926.00
II. Post-employment
benefit-defined 25,755,886.00 282,221,646.00 280,409,969.00 27,567,563.00
contribution plans
III. Termination benefits 15,120,332.00 5,471,141.00 5,458,993.00 15,132,480.00
IV. Other benefits due
0.00 0.00 0.00 0.00
within one year
Total 1,092,103,138.00 3,190,325,010.00 3,580,650,179.00 701,777,969.00
(2) List of Short-term salary
Unit: RMB Yuan
Item Opening balance Increase Decrease Closing balance
1. Salary, bonus,
802,297,623.00 2,281,842,272.00 2,684,318,625.00 399,821,270.00
allowance, subsidy
2. Employee welfare 0.00 269,934,247.00 269,934,247.00 0.00
3. Social insurance 34,946,466.00 129,670,900.00 131,338,197.00 33,279,169.00
Of which: 1. Medical
33,257,964.00 108,531,444.00 110,203,936.00 31,585,472.00
insurance premiums
Work-related injury
685,379.00 11,248,481.00 11,143,067.00 790,793.00
insurance
Maternity insurance 1,003,123.00 9,890,975.00 9,991,194.00 902,904.00
4. Housing fund 18,494,267.00 115,960,153.00 128,382,596.00 6,071,824.00
5. Labor union budget
and employee education 182,715,621.00 66,385,713.00 42,986,473.00 206,114,861.00
budget
6.Short-term absence
0.00 0.00 0.00 0.00
with payment
7. Short-term profit
0.00 0.00 0.00 0.00
sharing plan
8. Employee bonus and
7,282,591.00 0.00 0.00 7,282,591.00
welfare fund
9. Other 5,490,352.00 38,838,938.00 37,821,079.00 6,508,211.00
Total 1,051,226,920.00 2,902,632,223.00 3,294,781,217.00 659,077,926.00
(3) List of drawing scheme
Unit: RMB Yuan
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Item Opening balance Increase Decrease Closing balance
1. Basic pension benefits 22,621,515.00 258,395,258.00 255,986,738.00 25,030,035.00
2. Unemployment
1,284,085.00 15,426,808.00 15,435,698.00 1,275,195.00
insurance
Annuity 1,850,286.00 8,399,580.00 8,987,533.00 1,262,333.00
Total 25,755,886.00 282,221,646.00 280,409,969.00 27,567,563.00
Other notes:
Naught
30. Taxes payable
Unit: RMB Yuan
Item Closing balance Opening balance
VAT 24,155,263.00 6,034,483.00
Consumption tax 0.00 0.00
Business tax 0.00 2,950,474.00
Corporate income tax 28,076,776.00 51,227,464.00
Personal income tax 16,226,631.00 26,686,375.00
Urban maintenance and construction tax 48,240,779.00 61,736,456.00
Others 63,005,535.00 75,779,757.00
Total 179,704,984.00 224,415,009.00
Other notes:
Naught
31. Interest payable
Unit: RMB Yuan
Item Closing balance Opening balance
Long-term loan interest of installment
payment of interest and repay the due 202,460,209.00 189,536,603.00
capital
Enterprise bond interest 88,027,397.00
Interest paid for short-term loans 173,577,276.00 158,637,246.00
Total 464,064,882.00 348,173,849.00
Particulars of significant overdue unpaid interest:
Unit: RMB Yuan
Entity Overdue amount Overdue reason
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Naught
Other notes:
Naught
32. Dividends payable
Unit: RMB Yuan
Item Closing balance Opening balance
Common stock dividends 491,253,793.86 9,651,170.64
Preferred stock\sustainable debt interest
0.00 0.00
classified as equity instrument
Others 0.00 0.00
Total 491,253,794.00 9,651,170.00
Notes: including significant unpaid dividends payable over one year, the unpaid reason shall be disclosed:
Naught
33. Other accounts payable
(1) Other accounts payable listed by nature of the account
Unit: RMB Yuan
Item Closing balance Opening balance
Engineering and equipment 6,333,710,540.00 6,809,238,439.00
The VAT collection of imported equipment 679,302,113.00 980,993,091.00
Margin 347,063,209.00 186,443,738.00
Pre-withdrawal water and electricity 235,037,117.00 183,198,773.00
Logistics freight 7,178,713.00 80,380,590.00
External agency fee 60,981,926.00 32,624,494.00
Others 566,977,917.00 592,050,753.00
Total 8,230,251,535.00 8,864,929,878.00
(2) Other significant accounts payable with aging over one year
Unit: RMB Yuan
Item Closing balance Unpaid/ Un-carry-over reason
Naught
Other notes:
Naught
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34. Non-current liabilities due within 1 year
Unit: RMB Yuan
Item Closing balance Opening balance
Long-term loans due within 1 year 2,554,451,743.00 2,283,535,113.00
Bonds payable due within 1 year 0.00 0.00
Long-term account payable due within 1
1,636,427.00 0.00
year
Total 2,556,088,170.00 2,283,535,113.00
Other notes:
Naught
35. Other current-liabilities
Unit: RMB Yuan
Item Closing balance Opening balance
Short term bond 0.00 0.00
Quality assurance deposit 449,813,064.00 329,744,101.00
Convertible creditor's right 0.00 40,500,000.00
Others 9,957,333.00 6,662,858.00
Total 459,770,397.00 376,906,959.00
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 balance
issue par amortization period
Naught
Other notes:
Naught
36. Long-term loan
(1) Category of long-term loan
Unit: RMB Yuan
Item Closing balance Opening balance
Pledge loan 17,310,000.00 19,755,000.00
Mortgage loan 31,072,108,001.00 32,011,893,389.00
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Guaranteed loan 0.00 0.00
Credit loan 10,828,240,000.00 4,309,549,756.00
Total 41,917,658,001.00 36,341,198,145.00
Notes of short-term loans category:
Naught
Other notes including interest rate range:
Naught
37. Bonds payable
(1) Bonds payable
Unit: RMB Yuan
Item Closing balance Opening balance
In 2016, BOE Technology Group Co., Ltd.
public issued Corporate bond to the qualify 9,954,719,298.00 0.00
investors (Phase I)
Total 9,954,719,298.00 0.00
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(2) Increase /decrease of bonds payable (excluding other financial instruments classified as preferred stock, perpetual capital securities and others of
financial liabilities)
Unit: RMB Yuan
5 years (Attached
In 2016, BOE
end of 3 years,
Technology Group
the issuer
Co., Ltd. public
100.00 3/21/2016 increase coupon 10,000,000,000.00 0.00 10,000,000,000.00 90,529,714.00 2,502,317.00 0.00 9,954,719,298.00
issued Corporate
rate option and
bond to the qualify
investors selling
investors (Phase I)
back options
Total -- -- -- 10,000,000,000.00 0.00 10,000,000,000.00 90,529,714.00 2,502,317.00 0.00 9,954,719,298.00
(3) Explanation of convertible conditions, time for convertible company bonds
Naught
(4)Explanation of other financial instruments classified as financial liabilities
Basic situation of outstanding preferred stock, perpetual capital securities and other financial instrument at the period-end
Naught
Change in outstanding preferred stock, perpetual capital securities and other financial instrument at the period-end
Unit: RMB Yuan
Outstanding Opening period Increase Decrease Closing period
financial instrument Amount Book value Amount Book value Amount Book value Amount Book value
Naught
Notes to judgment of other financial instrument classified as financial liabilities
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Naught
Other notes:
Naught
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38. Long-term payable
(1) Long-term payable listed by nature of the account
Unit: RMB Yuan
Item Closing balance Opening balance
Financing lease after-sales leaseback 10,423,573.00 0.00
Other notes:
Naught
39. Estimated liabilities
Unit: RMB Yuan
Item Closing balance Opening balance Formed reason
External guaranty 0.00 0.00
Pending litigation 0.00 0.00
Product quality assurance 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
Others 16,060,269.00 16,457,010.00
indemnity incurred accordingly, the Group
withdrew the relevant estimated liabilities
according to reasonable estimation of losses.
Total 16,060,269.00 16,457,010.00 --
Other notes, including significant assumptions, valuation explanation related to significant estimated liabilities:
Naught
40. Deferred revenue
Unit: RMB Yuan
Item Opening balance Increase Decrease Closing balance Formed reason
Government 4,346,000.00 369,055,616.00 Government
2,406,244,676.00 2,041,535,060.00
subsidies subsidies
Total 2,406,244,676.00 4,346,000.00 369,055,616.00 2,041,535,060.00 --
Item involving government subsidies:
Unit: RMB Yuan
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Amount recorded
Related to
Amount of into non-operating
Item Opening balance Other changes Closing balance assets/related
newly subsidy income in Report
income
Period
Government 2,208,511,573.00 2,000,000.00 215,315,070.00 1,995,196,503.00
Related to the
subsidies related to 0.00
assets
the assets
Government 197,733,103.00 2,346,000.00 153,740,546.00 46,338,557.00
Related to the
subsidies related to 0.00
income
the income
Total 2,406,244,676.00 4,346,000.00 369,055,616.00 0.00 2,041,535,060.00 --
Other notes:Naught
41. Other non-current liabilities
Unit: RMB Yuan
Item Closing balance Opening balance
Convertible creditor's right 3,702,101,160.00 3,595,123,390.00
Equity investment with redemption items 3,320,800,000.00 2,500,000,000.00
The VAT collection of imported equipment 507,195,223.00 75,720,270.00
Total 7,530,096,383.00 6,170,843,660.00
Other notes:
Naught
42. Share capital
Unit: RMB Yuan
Increase/decrease (+/-)
Capitalized
Item Opening balance New shares Closing balance
Bonus shares Capital Others Subtotal
issued
reserves
The sum of
35,153,067,743.00 0.00 0.00 0.00 0.00 0.00 35,153,067,743.00
shares
Other notes:
Naught
43. Capital surplus
Unit: RMB Yuan
Item Opening balance Increase Decrease Closing balance
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Capital premium 38,115,575,868.00 0.00 0.00 38,115,575,868.00
Other capital reserves 903,324,599.00 10,208,711.00 0.00 913,533,310.00
Total 39,018,900,467.00 10,208,711.00 0.00 39,029,109,178.00
Other notes, including changes and reason of change:
Naught
44. Treasury stock
Unit: RMB Yuan
Item Opening balance Increase Decrease Closing balance
Naught
Total 0.00 0.00
Other notes, including changes and reason of change:
Naught
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45. Other comprehensive income
Unit: RMB Yuan
Reporting Period
Less: recorded
in other
comprehensive
Attributable
Opening income in Less:
Item Amount before income tax in Attributable to owners of the to minority Closing balance
balance prior period Income tax
current period Company after tax shareholders
and transferred expense
after tax
to profit or
loss in current
period
I. Other comprehensive income can not be
0.00 0.00 0.00 0.00 0.00 0.00 0.00
reclassified into profits and losses in future
Of which: changes in net assets and
liabilities of recalculated defined benefit 0.00 0.00 0.00 0.00 0.00 0.00 0.00
plans
Share of other comprehensive income of
investees measured by the equity method 0.00 0.00 0.00 0.00 0.00 0.00 0.00
not reclassifiable to profit or loss
II. Other comprehensive reclassified into -26,340,409.00
90,153,009.00 -26,599,167.00 0.00 -258,758.00 0.00 63,812,600.00
profits or losses
Of which: other comprehensive income as -4,418,377.00
per equity method recognized into profit 26,510,264.00 -4,418,377.00 0.00 0.00 0.00 22,091,887.00
and loss in future
Profits or losses of change in fair value of 124,321,870.00 -44,406,289.00 0.00 -258,758.00 -44,147,531.00 0.00 80,174,339.00
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available-for-sale financial assets
Of which: other comprehensive income as
per equity method recognized into profit 0.00 0.00 0.00 0.00 0.00 0.00 0.00
and loss in future
Effective hedging gains and losses on cash
0.00 0.00 0.00 0.00 0.00 0.00 0.00
flows
Converted difference of the foreign
-60,679,125.00 22,225,499.00 0.00 0.00 22,225,499.00 0.00 -38,453,626.00
currency financial statement
-26,340,409.00
Total 90,153,009.00 -26,599,167.00 0.00 -258,758.00 0.00 63,812,600.00
Other explanation, including the active part of the hedging gains/losses of cash flow transfer to initial recognization adjustment for the arbitraged items:
Naught
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46. Surplus reserves
Unit: RMB Yuan
Item Opening balance Increase Decrease Closing balance
Statutory surplus reserves 302,570,750.00 0.00 0.00 302,570,750.00
Discretionary surplus
289,671,309.00 0.00 0.00 289,671,309.00
reserves
Reserve fund 0.00 0.00 0.00 0.00
Enterprise expansion
0.00 0.00 0.00 0.00
fund
Others 0.00 0.00 0.00 0.00
Total 592,242,059.00 0.00 0.00 592,242,059.00
Other notes, including changes and reason of change
Naught
47. Retained profits
Unit: RMB Yuan
Item Reporting Period Last period
Opening balance of retained profits before adjustments 2,630,912,286.00 1,434,745,673.00
Total opening balance of retained profits before adjustments
0.00 0.00
(Increase+，decrease-)
Opening balance of retained profits after adjustments 2,630,912,286.00 1,434,745,673.00
Add: Net profit attributable to owners of the Company -516,472,418.00 1,951,170,852.00
Less: Withdrawal of statutory surplus reserves 0.00 47,065,643.00
Withdrawal of discretional surplus reserves 0.00 0.00
Withdrawal of generic risk reserve 0.00 0.00
Dividend of common stock payable 351,530,677.00 0.00
Dividend of common stock transfer into share capital 0.00 0.00
Closing retained profits 1,762,909,191.00 3,338,850,882.00
List of adjustment of opening retained profits:
1) RMB0.00 Yuan opening retained profits was affected by retrospective adjustment conducted according to the Accounting
Standards for Business Enterprises and relevant new regulations.
2) RMB0.00 Yuan opening retained profits was affected by changes on accounting policies.
3) RMB0.00 Yuan opening retained profits was affected by correction of significant accounting errors.
4) RMB0.00 Yuan opening retained profits was affected by changes in combination scope arising from same control.
5) RMB0.00 Yuan opening retained profits was affected totally by other adjustments.
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48. Revenue and Cost of Sales
Unit: RMB Yuan
Reporting Period Same period of last year
Item
Sales revenue Cost of sales Sales revenue Cost of sales
Main operations 24,881,976,506.00 22,771,274,960.00 21,917,479,361.00 16,736,885,573.00
Other operations 1,566,334,211.00 1,215,816,198.00 1,053,368,751.00 772,724,875.00
Total 26,448,310,717.00 23,987,091,158.00 22,970,848,112.00 17,509,610,448.00
49. Business tax and surcharges
Unit: RMB Yuan
Item Reporting Period Same period of last year
Consumption tax 0.00 0.00
Business tax 12,436,707.00 16,468,247.00
Urban maintenance and construction tax 45,553,431.00 56,145,938.00
Education Surcharge 33,002,047.00 40,468,922.00
Resource tax 0.00 0.00
Others 1,937,996.00 1,253,314.00
Total 92,930,181.00 114,336,421.00
Other notes:
Naught
50. Sales expenses
Unit: RMB Yuan
Item Reporting Period Same period of last year
Labor cost 143,741,326.00 134,349,195.00
Logistic transport fees 126,171,928.00 92,303,114.00
Product quality assurance 216,781,885.00 161,630,644.00
Others 209,521,315.00 144,405,750.00
Total 696,216,454.00 532,688,703.00
Other notes:
Naught
51. Administrative expenses
Unit: RMB Yuan
165
2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Item Reporting Period Same period of last year
Labor cost 560,645,612.00 586,790,222.00
Depreciation and amortization 210,067,005.00 165,605,068.00
R&D expenses 738,474,486.00 751,855,875.00
Maintenance cost 299,838,449.00 324,289,194.00
Others 502,064,883.00 423,878,687.00
Total 2,311,090,435.00 2,252,419,046.00
Other notes:
Naught
52. Financial expenses
Unit: RMB Yuan
Item Reporting Period Same period of last year
Interest expenses 822,841,814.00 757,096,215.00
Interest income -248,305,319.00 -414,387,936.00
Net amount of exchange loss (gains: negative) 645,198,892.00 -162,626,091.00
Others 15,143,623.00 -3,741,099.00
Total 1,234,879,010.00 176,341,089.00
Other notes:
Naught
53. Asset impairment loss
Unit: RMB Yuan
Item Reporting Period Same period of last year
I. Bad debt loss -16,280,180.00 2,088,282.00
II. Inventory falling price loss 531,103,126.00 495,232,888.00
Impairment losses of available-for-sale financial assets 0.00 0.00
IV. Held-to-maturity investments 0.00 0.00
V. Impairment losses of long-term equity investment 0.00 0.00
VI. Investment property 0.00 0.00
VII. Impairment losses of fix asset impairment loss 0.00 0.00
VIII. Engineering materials for impairment losses 0.00 0.00
IX. Impairment losses of construction in process 0.00 0.00
X. Production biological assets 0.00 0.00
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XI. Asset impairment loss 0.00 0.00
XII. Impairment losses of intangible asset 0.00 0.00
XIII. Impairment losses of good will 0.00 0.00
XIV. Other 0.00 0.00
Total 514,822,946.00 497,321,170.00
Other notes:
Naught
54. Gains and losses from changes in fair value
Unit: RMB Yuan
Sources Reporting Period Same period of last year
2. Financial assets measured by fair value and the changes be included
4,623,937.00 0.00
in the current profits and losses
Of which, gains on the changes in the fair value of derivative
0.00 0.00
financial instruments
Financial liabilities measured by fair value and the changes included in
0.00 0.00
the current gains and losses
Investment property adopted fair value measurement mode 0.00 0.00
Total 4,623,937.00 0.00
Other notes:
Naught
55. Investment income
Unit: RMB Yuan
Item Reporting Period Same period of last year
Long-term equity investment income accounted by equity method -11,180,961.00 10,557,037.00
Investment income arising from disposal of long-term equity
0.00 0.00
investments
Investment income received from financial assets measured by fair
value and the changes be included in the current profits and losses -13,042,225.00 0.00
during holding period
Investment income received from disposal of financial assets
measured by fair value and the changes be included in the current 0.00 0.00
profits and losses during holding period
Investment income of held to maturity investment during holding
0.00 0.00
period
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Investment income received from holding of available-for-sale 9,498,220.00
2,746,320.00
financial assets
Investment income received from disposal of available-for-sale 0.00
0.00
financial assets
After losing control, gain from the remaining stock remeasured at fair
0.00 0.00
value
Investment income from wealth management products on maturity 79,719,288.00 51,355,793.00
Total 64,994,322.00 64,659,150.00
Other notes:
Naught
56. Non-operating gains
Unit: RMB Yuan
Recorded in the amount of the
Item Reporting Period Same period of last year
non-recurring gains and losses
Total gains from disposal of
4,788,368.00 1,481,675.00 4,788,368.00
non-current assets
Including: Gains from disposal
1,135,331.00 1,481,675.00 1,135,331.00
of fixed assets
Gains from disposal of
3,653,037.00 0.00 3,653,037.00
intangible assets
Debt restructuring 0.00 0.00 0.00
income from non-monetary
0.00 0.00 0.00
assets exchange
Accepting donations 0.00 0.00 0.00
Government subsidies 1,660,030,393.00 406,391,203.00 1,660,030,393.00
Others 128,914,121.00 16,898,580.00 128,914,121.00
Total 1,793,732,882.00 424,771,458.00 1,793,732,882.00
Government subsidies recorded into current profits and losses
Other notes:Naught
57. Non-operating expenses
Unit: RMB Yuan
Recorded in the amount of the
Item Reporting Period Same period of last year
non-recurring gains and losses
Loss on disposal of non-current
2,257,689.00 9,248,574.00 2,257,689.00
assets
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Including: Loss on disposal of
2,257,689.00 9,248,574.00 2,257,689.00
fixed assets
Losses from disposal of
0.00 0.00 0.00
intangible assets
Loss on debt reconstruction 0.00 0.00 0.00
Non-monetary asset exchange
0.00 0.00 0.00
losses
Donation 0.00 5,000.00 0.00
Others 3,619,242.00 4,093,837.00 3,619,242.00
Total 5,876,931.00 13,347,411.00 5,876,931.00
Other notes:
Naught
58. Income tax expense
(1) Lists of income tax expense
Unit: RMB Yuan
Item Reporting Period Same period of last year
Current income tax expense 25,699,596.00 379,607,482.00
Deferred income tax expense 30,558,715.00 31,453,182.00
Total 56,258,311.00 411,060,664.00
(2) Adjustment process of accounting profit and income tax expense
Unit: RMB Yuan
Item Reporting Period
Total profits -531,245,257.00
Current income tax expense accounted by tax and relevant regulations -79,686,789.00
Influence of different tax rate suitable to subsidiary -57,475.00
Influence of income tax before adjustment 0.00
Influence of non taxable income -10,152,970.00
Influence of not deductable costs, expenses and losses 7,147,445.00
Influence of deductable losses of deferred income tax assets derecognized used in
-98,496,380.00
previous period
Influence of deductible temporary difference or deductible losses of deferred income
259,969,788.00
tax assets derecognized in Reporting Period.
Making up the annual losses of previous years -22,465,308.00
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Income tax expense 56,258,311.00
Other notes:
Naught
59. Other comprehensive income
Refer to the Notes. 57
60. 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 subsidies related to income 1,288,275,799.00 198,151,361.00
Interest income 161,872,743.00 103,723,264.00
Tender bond / performance bond received 35,509,926.00 18,220,402.00
Exchange earning from carry-forward,
521,087.00 1,084,048.00
repurchase
Others 68,359,640.00 501,165,140.00
Total 1,554,539,195.00 822,344,215.00
Notes to other cash received relevant to operating activities:
Naught
(2) Other cash paid relevant to operating activities:
Unit: RMB Yuan
Item Reporting Period Same period of last year
Daily spending paid 2,203,273,931.00 1,124,698,063.00
Bank service charges 10,978,187.00 17,745,833.00
Cash deposit 54,387,310.00 16,816,831.00
Restrictive deposit in financial institutions increased 219,615,038.00 72,862,647.00
Others 391,096,551.00 304,642,430.00
Total 2,879,351,017.00 1,536,765,804.00
Notes to other cash paid relevant to operating activities:
Naught
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(3) Other cash received relevant to investment activities
Unit: RMB Yuan
Item Reporting Period Same period of last year
Cash inflow from combination of subsidiary 657,102,662.00 0.00
Interest income 137,545,845.00 349,454,085.00
Tender shall / guarantee money for a bid 83,723,914.00 5,888,410.00
Government subsidies related to assets 2,000,000.00 179,740,000.00
Restrictive deposit in financial institutions recovered 0.00 278,070,265.00
Others 2,379,389.00 7,793,560.00
Total 882,751,810.00 820,946,320.00
Notes to other cash received relevant to investment activities
Naught
(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 27,752,918.00 2,709,050.00
Restrictive deposit in financial institutions increased 1,278,387,586.00 0.00
Others 110,127,607.00 14,219,464.00
Total 1,416,268,111.00 16,928,514.00
Notes to other cash paid relevant to investment activities:
Naught
(5) Other cash received relevant to financing activities
Unit: RMB Yuan
Item Reporting Period Same period of last year
Scrappy interest of dividends 379.00 0.00
Total 379.00 0.00
Notes to other cash received relevant to financing activities:
Naught
(6) Other cash paid relevant to financing activities
Unit: RMB Yuan
Item Reporting Period Same period of last year
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Bank service charges 34,652,203.00 75,393,744.00
Paid raise interest 0.00 40,991,275.00
Total 34,652,203.00 116,385,019.00
Notes to other cash paid relevant to financing activities:
Naught
61. Supplemental information for Cash Flow Statement
(1) Information of net profit to net cash flows generated from operating activities
Unit: RMB Yuan
Same period of last
Supplemental information Reporting Period
year
1. Reconciliation of net profit to net cash flows generated from
-- --
operating activities
Net profit -587,503,568.00 1,953,153,768.00
Add: Provision for impairment of assets 514,822,946.00 497,321,170.00
Depreciation of fixed assets, of oil-gas assets, of productive biological
4,809,870,880.00 3,590,977,357.00
assets
Amortization of intangible assets 122,450,569.00 122,743,131.00
Long-term unamortized expenses 30,360,640.00 47,685,498.00
Losses on disposal of fixed assets, intangible assets and other long-term
-3,840,860.00 7,713,598.00
assets (gains: negative)
Loss on retirement of fixed assets (gains: negative) -684,336.00 -731,624.00
Losses from variation of fair value (gains: negative) -4,623,937.00 0.00
Financial cost (gains: negative) 1,234,879,010.00 176,341,089.00
Investment loss (gains: negative) -64,994,322.00 -64,659,152.00
Decrease in deferred income tax assets (gains: negative) 16,083,984.00 13,203,777.00
Increase in deferred income tax liabilities
14,474,731.00 18,249,405.00
(“-” means decrease)
Decrease in inventory (gains: negative) -1,003,386,330.00 -1,684,902,995.00
Decrease in accounts receivable from operating activities (gains:
-4,079,163,191.00 -2,460,643,170.00
negative)
Increase in payables from operating activities (decrease: negative) 2,117,729,336.00 3,465,067,596.00
Others -382,388,597.00 -228,127,960.00
Net cash flows generated from operating activities 2,734,086,955.00 5,453,391,488.00
2. Significant investing and financing activities without involvement of -- --
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
cash receipts and payments
Conversion of debt into capital 0.00 0.00
Company bonus convertible due within one year 0.00 0.00
Fix assets under financing lease 0.00 0.00
3. Net increase in cash and cash equivalents: -- --
Closing balance of cash 40,036,041,613.00 32,009,442,308.00
Less: Opening balance of cash 36,182,738,217.00 36,504,707,160.00
Add: Closing balance of cash equivalents 0.00 0.00
Less: Opening balance of cash equivalents 0.00 0.00
Net increase in cash and cash equivalents 3,853,303,396.00 -4,495,264,852.00
(2) Net Cash paid of obtaining the subsidiary
Unit: RMB Yuan
Item Amount
Cash or cash equivalent paid for enterprise combination 1,172,360,000.00
Of which: --
Less: cash and cash equivalents held by subsidiary on purchase date 1,829,462,662.00
Of which: --
Add: cash or cash equivalent paid for enterprise combination in previous period 0.00
Of which: --
Net Cash paid of obtaining the subsidiary -657,102,662.00
Other notes:
Naught
(3) Net Cash receive from disposal of the subsidiary
Unit: RMB Yuan
Item Amount
Disposal of cash or cash equivalent of subsidiary in Reporting Period 0.00
Of which: --
Less: cash and cash equivalents held by subsidiary on losing control date 0.00
Of which: --
Disposal of cash or cash equivalent of subsidiary in previous period 0.00
Of which: --
Net Cash receive of disposal of the subsidiary 0.00
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Other notes:
Naught
(4) Cash and cash equivalents
Unit: RMB Yuan
Item Closing balance Opening balance
I. Cash 40,036,041,613.00 36,182,738,217.00
Including: Cash on hand 623,590.00 253,600.00
Bank deposit on demand 40,035,418,023.00 36,182,484,617.00
Other monetary funds on demand 0.00 0.00
Payable of due from central bank 0.00 0.00
Deposits in other banks 0.00 0.00
Call loans to banks 0.00 0.00
II. Cash and cash equivalents 0.00 0.00
Of which: Bond investment due within three months 0.00 0.00
III. Closing balance of cash and cash equivalents 40,036,041,613.00 36,182,738,217.00
Note: the restricted cash and cash equivalents of the Company and
4,483,037,966.00 2,684,123,619.00
the subsidiaries of the Group used
Other notes:
Naught
62. Notes to items of changes in owner's equity
Notes to name of "other" item adjusted closing balance and the adjustment amount:
63. The assets with the ownership or use right restricted
Unit: RMB Yuan
Item Closing book value Restricted reason
Monetary capital 4,483,037,966.00 The pledge use for guarantee and margin deposit
Has been endorsement for transfer and the right of recourse
Notes receivable 350,139,361.00
attached and pledge use for opening account payable
Inventories 0.00 Naught
Fixed assets 53,512,922,062.00 The pledge use for guarantee
Intangible assets 633,129,338.00 The pledge use for guarantee
Investment property 167,211,591.00 The pledge use for guarantee
Construction in progress 9,138,827,087.00 The pledge use for guarantee
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Total 68,285,267,405.00 --
Other notes:
Naught
64. Foreign currency monetary items
(1) Foreign currency monetary items
Unit: RMB Yuan
Closing convert to RMB
Item Closing foreign currency balance Exchange rate
balance
Including: USD 2,411,774,678.00 6.6312 15,992,960,246.00
EUR 316,640.00 7.3750 2,335,224.00
HKD 696,331,250.00 0.8547 595,154,320.00
JPY 551,445,761.00 0.0645 35,563,289.00
GBP 397.00 8.9212 3,545.00
MYR 3,804.00 1.6527 6,287.00
TWD 26,395,044.00 0.2032 5,363,473.00
KRW 953,903,583.00 0.0056 5,315,151.00
SGD 28,515.00 4.9239 140,407.00
CHF 701.00 6.7730 4,747.00
INR 8,039,734.00 0.0982 789,502.00
Including: USD 1,045,413,794.00 6.6321 6,932,347,954.00
EUR 0.00 7.375 0.00
HKD 0.00 0.8547 0.00
JPY 2,636,657,873.00 0.0645 170,064,433.00
GBP 45,703.00 8.9212 407,726.00
Long-term borrowings -- -- 0.01
Including: USD 4,502,592,266.00 6.6312 29,857,589,834.00
EUR 0.00 7.3750 0.00
HKD 0.00 0.8548 0.00
Other notes:
Naught
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
(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 √ Not applicable
65. Other
Naught
VIII. Changes of merge scope
1. Business combination not under the same control
(1) Business combination under the same control during the Reporting Period
Unit: RMB Yuan
Income of Net profit of
Time to Equity Way of
Name of Time to obtain Purchase Recognition acquiree from acquiree from
obtain proportion equity
acquiree cost date judgment purchase date purchase date
equity obtained obtained
to period-end to period-end
Business Completed
Thursday, Thursday,
Varitronix combination equity
April 28, 1,172,360,000.00 54.70% April 28, 322,492,005.00 -2,976,092.00
Co., Ltd. not under the delivery and
2016 2016
same control payment
Beijing Business
Saturday, Completed
Shangjun combination 25 April
June 25, 420,300.00 100.00% equity 38,798,949.80 4,346,328.70
Real Estate not under the 2016
2016 delivery
Co., Ltd. same control
Other notes:
Naught
(2) Combination cost and goodwill
Unit: RMB Yuan
Combination cost Varitronix Co., Ltd. Beijing Shangjun Real Estate Co., Ltd.
--Cash 1,172,360,000.00 420,300.00
Total 1,172,360,000.00 420,300.00
Less: share of fair value of net identifiable 1,277,588,293.00
420,300.00
assets obtained
Amount of goodwill/ combination cost less -105,228,293.00
0.00
than share of fair value of net identifiable
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
assets obtained
Notes to recognition method, contingent consideration and its changes in fair value of combination cost:
Naught
Main reason of large amount goodwill formed:
Naught
Other notes:
Naught
(3) The identifiable assets and liabilities of acquiree at purchase date
Unit: RMB Yuan
Item Varitronix Co., Ltd. Beijing Shangjun Real Estate Co., Ltd.
Fair value on purchase Book value on purchase Fair value on purchase Book value on purchase
Item
date date date date
Monetary capital 1,825,336,198.00 1,825,336,198.00 4,126,464.00 4,126,464.00
Accounts receivable 391,642,391.00 391,642,391.00 1,271,542.00 1,271,542.00
Inventories 353,013,834.00 353,013,834.00 68,845.00 68,845.00
Fixed assets 341,639,324.00 310,247,166.00 8,900.00 14,487.00
Intangible assets 15,261,161.00 9,050,368.00 4,126,464.00 4,126,464.00
Loan 0.00 0.00
Payable 75,955,164.00 75,955,164.00 335,084.00 335,084.00
Deferred income tax 197,658,962.00 197,658,962.00
0.00 0.00
liabilities
Net assets 12,020,956.00 6,380,513.00 420,300.00 425,887.00
Less: minority interests 2,335,627,591.00 2,303,665,083.00 0.00 0.00
Net assets obtained 1,058,039,298.00 1,043,560,283.00 420,300.00 425,887.00
Recognition methods of identifiable assets and liabilities:
The assets reevaluated by the third party.
Contingent liabilities of acquiree bared in enterprises merger:
Naught
Other notes:
Naught
(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
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
(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
Naught
(6) Other notes
Naught
2. The disposal of subsidiary
Whether there is a single disposal of the investment to subsidiary and lost control
□ Yes √ No
Whether there are multiple transactions step by step dispose the investment to subsidiary and lost control in Reporting Period
□ Yes √ No
3. 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:
The Company's subsidiary BOE Optoelectronics Holding Co., Ltd. (Optoelectronics Holding)set up BOE India Co., Ltd.; the
Company set up BOE Intelligent technology Co., Ltd. (Intelligent Technology)
4. Other
Naught
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
IX. Equity in other entities
1. Equity in subsidiary
(1) The structure of the enterprise group
Holding percentage (%) Way of
Name Main operating place Registration place Nature of business
Directly Indirectly gaining
Beijing BOE Vacuum Electronics Co.,
Beijing, China Beijing, China Manufacture and sale of vacuum electronic products 55.00% 0.00% Investment
Ltd.
Beijing BOE Vacuum Technology Co.,
Beijing, China Beijing, China Manufacture and sale of electronic tubes 100.00% 0.00% Investment
Ltd.
Beijing BOE Special Display Development of display products and sale of
Beijing, China Beijing, China 100.00% 0.00% Investment
Technology Co., Ltd. electronic products
Development and research of real estate, motor
Beijing Yinghe Century Co., Ltd. Beijing, China Beijing, China 100.00% 0.00% Investment
vehicles public parking service; market research
BOE Optoelectronics Technology Co., Development and manufacture of backlight and
Suzhou, China Suzhou, China 92.44% 0.00% Investment
Ltd. related parts and components for LCD
BOE Hyundai LCD (Beijing) Display Development, manufacture and sale of liquid display
Beijing, China Beijing, China 75.00% 0.00% Investment
Technology Co., Ltd. for mobile termination
Beijing BOE Optoelectronics Research, development, design and manufacture of
Beijing, China Beijing, China 82.49% 17.51% Investment
Technology Co., Ltd. TFT-LCD
BOE (Hebei) Mobile Technology Co., Manufacture and sale of mobile flat screen display
Langfang, China Langfang, China 100.00% 0.00% Investment
Ltd. technical products and related services
Beijing BOE Display Technology Co., Development of TFT-LCD, manufacture and sale of
Beijing, China Beijing, China 100.00% 0.00% Investment
Ltd. LCD
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Beijing BOE Multimedia Technology Sale of computer software and hardware, the numeral
Beijing, China Beijing, China 100.00% 0.00% Investment
Co. Ltd. regards the audio frequency technology
Beijing BOE Energy Technology Co., Integration and application of photovoltaic system
Beijing, China Beijing, China 100.00% 0.00% Investment
Ltd. sale of photovoltaic system and ancillary facilities
Manufacture of LCD TV, LCD; technology
Beijing BOE Video Technology Co.,
Beijing, China Beijing, China development of terminal products and systems such 100.00% 0.00% Investment
Ltd.
as TFT-LCD display and TV
Beijing BOE Smart Commerce Co., Technology promotion, property management, and
Beijing, China Beijing, China 100.00% 0.00% Investment
Ltd. sales of electronic products
Beijing Zhongxiangying Technology Technology promotion, property management, and
Beijing, China Beijing, China 100.00% 0.00% Investment
Co., Ltd. sales of electronic products
Erdos Haosheng Energy Investment
Ordos, China Ordos, China Energy investment 20.00% 80.00% Investment
Co., Ltd.
Ordos Yuansheng Optoelectronics Co., Manufacture and sales of AM-OLED products and
Ordos, China Ordos, China 100.00% 0.00% Investment
Ltd. auxiliary products
Processing, manufacturing and sales of precision
Beijing BOE Semi-conductor Co., electronic components, semi-conductor devices and
Beijing, China Beijing, China 80.77% 0.00% Investment
Ltd. micro module; micro-electronics devices and
electronic materials; import and export of goods
Design, manufacturing and sales of
BOE Optoelectronics Holding Co., Virgin Islands,
Hong Kong, China electronic-information industry related products, 100.00% 0.00% Investment
Ltd British
investment and financing businesses
Business
Chengdu BOE Optoelectronics combination
Chengdu, China Chengdu, China TFT-LCD; R&D, production and sales of TFT-LCD 100.00% 0.00%
Technology Co., Ltd. not under the
same control
Beijing Asahi Glass Electronics Co., Beijing, China Beijing, China Sales of TV bracket glass rod and CTV 100.00% 0.00% Business
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Ltd. low-melting-point solder glass combination
not under the
same control
Business
Hefei BOE Optoelectronics combination
Hefei, China Hefei, China R&D, production and sales of TFT-LCD 100.00% 0.00%
Technology Co., Ltd. not under the
same control
Business
Colour TV set, Display tube, materials of color RPTV
BeijingMatsushita Color CRT Co., combination
Beijing, China Beijing, China projection tube, and electronic parts; property 88.80% 0.00%
Ltd. not under the
management and parking service, etc.
same control
Business
Investment, construction, R&D, production and sales
Hefei Xinsheng Optoelectronics combination
Hefei, China Hefei, China of the relevant products of thin film transistor LCD 84.59% 0.03%
Technology Co., Ltd. not under the
and its auxiliary products
same control
Business
Investment, construction, R&D, production and sales
Chongqing BOE Optoelectronics combination
Chongqing, China Chongqing, China of the relevant products of thin film transistor LCD 88.18% 0.00%
Technology Co., Ltd. not under the
and its auxiliary products
same control
Business
Investment, construction, R&D, production and sales
Fuzhou BOE Optoelectronic combination
Fuzhou, China Fuzhou, China of the relevant products of thin film transistor LCD 51.82% 0.00%
Technology Co., Ltd. not under the
and its auxiliary products
same control
Sale of electronic products, mechanical equipment
BOE Intelligent technology Co., Ltd. Beijing, China Beijing, China and spare parts, computer software, hardware and 100.00% 0.00% Investment
auxiliary equipment
Business
BOE HealthcareCo., Ltd. Beijing, China Beijing, China Investment management and project investment 100.00% 0.00%
combination
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
not under the
same control
Notes: holding proportion in subsidiary different from voting proportion:
Naught
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:
Naught
Significant structure entities and controlling basis in the scope of combination:
Naught
Basis of determine whether the Company is the agent or the principal:
Naught
Other notes:
Naught
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
(2) Significant not wholly owned subsidiary
Unit: RMB Yuan
The profits and losses Declaring dividends Balance of minority
Shareholding proportion
Name arbitrate to the minority distribute to minority shareholder at closing
of minority shareholder
shareholders shareholder period
Naught
Holding proportion of minority shareholder in subsidiary different from voting proportion:
Naught
Other notes:
Naught
(3) The main financial information of significant not wholly owned subsidiary
Unit: RMB Yuan
Closing balance Opening balance
Name Current Non-current Total Current Non-current Total Current Non-current Total Current Non-current Total
assets assets assets liabilities liability liabilities assets assets assets liabilities liability liabilities
Naught
Unit: RMB Yuan
Reporting Period Same period of last year
Total Total
Name Operation Operating Operation Operating
Net profit comprehensive Net profit comprehensive
revenue cash flow revenue cash flow
income income
Naught
Other notes:
Naught
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
The third party increased share capital to Chongqing BOE amounted to RMB3 billion Yuan, the percentage of shares held by the
Company decreased from 96.92% to 81.80% after the capital increase. The Company increased share capital to Optical Science and
technology amounted to RMB60 million Yuan, the percentage of shares held by the Company increased from 91.2 to 92.44% after
the capital increase.
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
(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 Optoelectronics BOE Optoelectronics Technology
Item
Technology Co., Ltd. Co., Ltd.
--Cash 3,000,000,000.00 60,000,000.00
-Fair value of non-cash assets 0.00 0.00
Total of purchase cost /disposal consideration 3,000,000,000.00 60,000,000.00
Less: subsidiary net assets proportion calculated by
3,009,061,025.00 60,270,220.00
share proportion obtained/disposal
Difference 0.00 0.00
Of which: Adjustment of capital reserves -9,061,025.00 -270,220.00
Surplus reserves adjustments 0.00 0.00
Retained profits adjustments 0.00 0.00
Other notes:
Naught
3. Equity in joint venture arrangement or associated enterprise
(1) Summary financial information of insignificant joint venture or associated enterprise
Unit: RMB Yuan
Item Closing balance/ Reporting Period Opening balance /last period
Joint venture: -- --
Total investment book value 0.00 0.00
The total of following items according to the
-- --
shareholding proportions
--Net profits 0.00 0.00
--Other comprehensive income 0.00 0.00
--Total comprehensive income 0.00 0.00
Associated enterprise: -- --
Total investment book value 1,700,914,108.00 1,260,302,959.00
The total of following items according to the
-- --
shareholding proportions
--Net profits -11,180,961.00 4,748,739.00
--Other comprehensive income -4,418,377.00 26,510,264.00
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
--Total comprehensive income -15,599,338.00 31,259,003.00
Other notes:
Naught
(2) Note to the significant restrictions of the ability of joint venture or associated enterprise transfer funds
to the Company
Naught
(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
accumulatively derecognized Period Reporting Period
Naught
Other notes:
Naught
(4) The unrecognized commitment related to joint venture investment
Naught
(5) Contingent liabilities related to joint venture or associated enterprise investment
Naught
4. Significant common operation
Proportion /share portion
Name Main operating place Registration place Nature of business
Directly Indirectly
Naught
Notes to holding proportion or share portion in common operation different from voting proportion:
Naught
Basis of common operation as a single entity, classify as common operation
Naught
Other notes:
Naught
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
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Naught
6. Other
Naught
X. The risk related 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.
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 33% and 1% respectively of all receivables (38% and 1% in 2015).
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, 2016, 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
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
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, 2016, under the circumstance without changes of other variables，it is supposed that the rising/ falling interest rate at
100 base points will result in reduction/ increase of 253,549,000Yuan (RMB200,740,000Yuan in 2015) 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, 2016, the foreign assets liabilities item with significant risk exposure settled by USD, the total net liabilities exposure
of USD item risk exposure was USD 1,757,638,247 (USD3,506,829,240 in 2015) discounted into RMB was RMB 11,655,250,746
Yuan (RMB22,771,925,816 Yuan in 2015) at spot rate on balance sheet date. Under the circumstance without changes of other
variables, 5% fluctuation in exchange rate of RMB against U.S. dollar will result in increase/ reduction of 590,641,263 Yuan
(RMB943,464,255 Yuan in 2015) for stockholders’ equity and net profits.
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
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 items Fair value measurement Fair value measurement
Total
at level 1 items at level 2 items at level 3
I. Consistent fair value
-- -- -- --
measurement
(I) Financial assets
calculated by fair value
35,872,347.00 0.00 0.00 35,872,347.00
and changes record into
current profits or losses
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
1. Trading financial
35,872,347.00 0.00 0.00 35,872,347.00
assets
(1) Debt instruments
0.00 0.00 0.00 0.00
investment
(2) Equity tool
35,872,347.00 0.00 0.00 35,872,347.00
investment
(3) Derivative financial
0.00 0.00 0.00 0.00
assets
2. Financial assets
assigned measured by
fair value and the
0.00 0.00 0.00 0.00
changes be included in
the current gains and
losses
(1) Debt instruments
0.00 0.00 0.00 0.00
investment
(2) Equity tool
0.00 0.00 0.00 0.00
investment
(II) Available-for-sale 284,531,380.00 284,531,380.00
0.00 0.00
financial assets
(1) Debt instruments 14,586,967.00 14,586,967.00
0.00 0.00
investment
(2) Equity tool 269,944,413.00 269,944,413.00
0.00 0.00
investment
(3) Other 0.00 0.00 0.00 0.00
(III)Investment property 0.00 0.00 0.00 0.00
1. Lease the land use
0.00 0.00 0.00 0.00
right
2. Rental buildings 0.00 0.00 0.00 0.00
3. Land use right held
and prepared to transfer 0.00 0.00 0.00 0.00
after appreciation
(IV)Biological assets 0.00 0.00 0.00 0.00
1.Consumable biological
0.00 0.00 0.00 0.00
assets
2. Productive biological
0.00 0.00 0.00 0.00
assets
Total assets of consistent
320,403,727.00 0.00 0.00 320,403,727.00
fair value measurement
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
(V)Transaction financial
0.00 0.00 0.00 0.00
liabilities
Of which: tradable bond
0.00 0.00 0.00 0.00
issued
Derivative
0.00 0.00 0.00 0.00
financial liabilities
Others 0.00 0.00 0.00 0.00
(VI) Refer as financial
liabilities measured by
fair value and the 0.00 0.00 0.00 0.00
changes included in the
current gains and losses
Total liabilities of
consistent fair value 0.00 0.00 0.00 0.00
measurement
II. Inconsistent fair value
-- -- -- --
measurement
(I) Assets held for sale 0.00 0.00 0.00 0.00
Total assets
inconsistently measured 0.00 0.00 0.00 0.00
at fair value
Total liabilities
inconsistent measured at 0.00 0.00 0.00 0.00
fair value
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
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
5. Sensitiveness analysis on unobservable parameters and adjustment information between opening and
closing book value of consistent fair value measurement items at level 3
Naught
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
Naught
7. Changes in the valuation technique in the current period and the reason for change
Naught
8. Fair value of financial assets and liabilities not measured at fair value
Naught
9. Other
Naught
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
Registration place Nature of business Registered capital parent company
company company against the
against the Company
Company (%)
(%)
Operation and
No.12 Jiuxian
management of RMB1,307,370,000
Electronics Holding Bridge, Zhaoyang 0.78% 11.21%
state-owned assets Yuan
District, Beijing
within authorization
Notes: Information on the parent company:
Naught
The finial control of the Company was Electronics Holding
Other notes:
Naught
2. Subsidiaries of the Company
See details to Notes 1, IX.
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
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
Shenzhen Yunyinggu Technology Co., Ltd. Associated enterprise with the Group and the Company
Beijing Nittan Electronic Co., Ltd. Associated enterprise with the Group and the Company
TPV Display Technology (China) Limited Associated enterprise with the Group and the Company
Hefei BOE Display Technology Co., Ltd. ) Associated enterprise with the Group and the Company
Beijing Xindongneng Investment Management Co., Ltd. Associated enterprise with the Group and the Company
Kateeva, Inc. Associated enterprise with the Group and the Company
Other notes:
Naught
4. Information on other related parties of the Company
Name Relationship
Enterprises that are controlled by the Company’s ultimate holding
Beijing Jile Electronics Group Co., Ltd.
company
Enterprises that are controlled by the Company’s ultimate holding
Beijing Electronic City Co., Ltd.
company
Enterprises that are controlled by the Company’s ultimate holding
Beijing Sevenstar Huasheng Electronics & Machinery Co., Ltd.
company
Enterprises that are controlled by the Company’s ultimate holding
Beijing Sevenstar Front Electronics Co., Ltd.
company
Enterprises that are controlled by the Company’s ultimate holding
Beijing Sevenstar-hitech Electronics Co., Ltd.
company
Enterprises that are controlled by the Company’s ultimate holding
Beijing Sevenstar Electronics Co., Ltd.
company
Enterprises that are controlled by the Company’s ultimate holding
Beijing Zhengdong Electronic Power Group Co., Ltd.
company
Enterprises that are controlled by the Company’s ultimate holding
Beijing Yandong Microelectronic Co., Ltd.,
company
Enterprises that are controlled by the Company’s ultimate holding
Beijing Orient Electronics Material Corp.
company
Beijing Dongdian Industrial Development Co., Ltd. Enterprises that are controlled by the Company’s ultimate holding
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
company
Enterprises that are controlled by the Company’s ultimate holding
Beijing PCB Square Corporation
company
Enterprises that are controlled by the Company’s ultimate holding
Beijing Sevenstar Integrated Circuit Co., Ltd.
company
Beijing Northern Microelectronics Foundation Equipment Enterprises that are controlled by the Company’s ultimate holding
Technology Research Center company
Enterprises that are controlled by the Company’s ultimate holding
Beijing Zhaowei Technology Development Co., Ltd.
company
Associated individual in the entity performed as a senior
Beijing Zhaowei Electronic Group Co., Ltd.
management personnel
Other notes:
Naught
5. List of related-party transactions
(1) Information on acquisition of goods and reception of labor service (unit: ten thousand Yuan)
Information on acquisition of goods and reception of labor service
Unit: RMB Yuan
The approval trade Whether exceed Same period of
Related party Content Reporting Period
credit trade credit or not last year
Beijing Electronics Holding
Purchase of goods 77,008,531.00 650,000,000.00 No 18,695,212.00
Co., Ltd and its subsidiaries
Beijing Electronics Holding
Accepting labor services 1,911,217.00 6,000,000.00 No 942,193.00
Co., Ltd and its subsidiaries
Beijing Nissin Electronics
Precision Component Co., Purchase of goods 55,961.00 2,000,000.00 No 339,217.00
Ltd.
Kateeva, Inc Purchase of goods 2,163,732.00 200,000,000.00 No 0.00
Shenzhen Yunyinggu
Purchase of goods 0.00 15,000,000.00 No 0.00
Technology Co., Ltd.
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 its
Sale of goods 57,904.00 65,818.00
subsidiaries
Beijing Electronics Holding Co., Ltd and its
Render service 28,963.00 0.00
subsidiaries
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Beijing Nittan Electronic Co., Ltd. Sale of goods 455,489.00 374,741.00
TPV Display Technology (China) Limited Sale of goods 117,507,459.00 137,492,894.00
Beijing Xindongneng Investment Management
Render service 23,857.00 0.00
Co., Ltd.
Hefei BOE Display Technology Co., Ltd.) Sale of goods 50,594.00 0.00
Notes:
Naught
(2) Related trusteeship/contract
Lists of related trusteeship/contract:
Unit: RMB Yuan
Name of the Income
Name of the
entrustee/ Type Initial date Due date Pricing basis recognized in the
entruster/contractee
contractor Reporting Period
Naught
Notes:
Naught
Lists of entrust/contractee
Unit: RMB Yuan
Name of the Charge
Name of the
entrustee/ Type Initial date Due date Pricing basis recognized in the
entruster/contractee
contractor Reporting Period
Naught
Notes:
Naught
(3) Information of related lease
The Company was lessor:
Unit: RMB Yuan
Category of leased The lease income confirmed The lease income
Name of lessee
assets in this year confirmed in last year
Beijing Electronics Holding Co., Ltd and its
Investment property 339,332.00 348,087.00
subsidiaries
Other related parties Investment property 1,216,899.00 708,622.00
The Company was lessee:
Unit: RMB Yuan
lessor Category of leased The lease income confirmed Category of leased assets
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
assets in this year
Beijing Electronics Holding Co., Ltd and its
Investment property 19,367.00 15,461.00
subsidiaries
Notes:
Naught
(4) Related-party guarantee
The Company was guarantor:
Unit: RMB Yuan
Execution accomplished
Secured party Guarantee amount Start date End date
or not
Naught
The Company was Secured party
Unit: RMB Yuan
Execution accomplished
Guarantor: Guarantee amount Start date End date
or not
Naught
Notes:
Naught
(5) Inter-bank lending of capital of related parties：
Unit: RMB Yuan
Amount borrowed and
Related party Initial date Due date Explanation
loaned
Borrowed
Naught
Loaned
Naught
(6) Related party asset transfer and debt restructuring
Unit: RMB Yuan
Related party Content Reporting Period Same period of last year
Naught
(7) Rewards for the key management personnel
Unit: RMB Yuan
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Item Reporting Period Same period of last year
Rewards for the key management personnel 18,968,374.00 10,210,728.00
(8) Other related-party transactions
Naught
6. Receivables and payables of related parties
(1) Receivables
Unit: RMB Yuan
Closing balance Opening balance
Name o f item Related party Bad debt
Book balance Bad debt provision Book balance
provision
Beijing Electronics Holding
Account receivable 366,565.00 0.00 140,319.00 0.00
Co., Ltd and its subsidiaries
Account receivable Other related parties 50,763,102.00 55,623.00 98,405,432.00 55,623.00
Other accounts
Other related parties 27,272.00 0.00 1,055,976.00 0.00
receivable
Beijing Electronics Holding
Prepayment 579,150.00 0.00 0.00 0.00
Co., Ltd and its subsidiaries
Prepayment Other related parties 0.00 0.00 1,771,736.00 0.00
Other non-current
Other related parties 71,121,293.00 0.00 0.00 0.00
assets
(2) Payables
Unit: RMB Yuan
Name o f item Related party Closing book balance Opening book balance
Beijing Electronics Holding Co., Ltd and its
Accounts payable 7,449,623.00 1,441,881.00
subsidiaries
Accounts payable Other related parties 2,781,488.00 9,871,939.00
Beijing Electronics Holding Co., Ltd and its
Advance from customers 0.00 2,700.00
subsidiaries
Beijing Electronics Holding Co., Ltd and its
Other account payable 68,387,734.00 47,936,248.00
subsidiaries
Other account payable Other related parties 149,691.00 149,691.00
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
7. Related party commitment
Naught
8. Other
Naught
XIII. Stock payment
1. The Stock payment overall situation
□ Applicable √ Not applicable
2. The Stock payment settled by equity
□ Applicable √ Not applicable
3. The Stock payment settled by cash
□ Applicable √ Not applicable
4. Modification and termination of the stock payment
Naught
5. Other
Naught
XIV. Commitments
1. Significant commitments
Significant commitments at balance sheet date
(1) Capital commitments
The Group 30 June 2016 31 December 2015
Investment contracts entered into but not performed or 18,807,048,586.00 5,327,996,929.00
performed partially
Investment contracts authorized but not entered into 45,948,822,525.00 60,550,486,510.00
Total 64,755,871,111.00 65,878,483,439.00
The Company’s investment contracts authorized but not entered into mainly included the fixed assets
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
that Chengdu BOE, Chongqing BOE, Fuzhou BOE and Yuansheng Optoelectronics planned to purchase
in 2016 and project equipment that the Group planned to purchase in 2016.
The Company 30 June 2016 31 December 2015
Investment contracts entered into but not performed or
29,272,257,463.00 36,044,597,742.00
performed partially
Investment contracts authorized but not entered into 0.00 92,652,892.00
Total 29,272,257,463.00 36,137,250,634.00
The Company’s investment contracts entered into but not performed or performed partially mainly
included guaranteed investments in Chengdu BOE, Chongqing BOE, Fuzhou BOE and Yuansheng
Optoelectronics..
(2) Operating commitments
As at 30 June, the total future minimum lease payments under irrevocable operating leases of the
Group’s properties were payable as follows:
Item 30 June 2016 31 December 2015
Within 1 year (including 1 year) 19,069,220.00 20,347,968.00
Over 1 year and within 2 years (including 2 year) 16,152,566.00 20,499,876.00
Over 2 year and within 3 years (including 3 year) 8,800,623.00 17,601,350.00
Over 3 years 34,254,421.00 39,958,929.00
Total 78,276,830.00 98,408,123.00
As at 30 June 2016, the Company had no significant operating lease commitments.
2. Contingency
(1) Significant contingency at balance sheet date
Naught
(2) The Company have no significant contingency to disclose, also should be stated
There was no significant contingency in the Company.
3. Other
Naught
XV. Events after balance sheet date
1. Profit distribution
Unit: RMB Yuan
Planning allocation of profits or dividends 0.00
Profits or dividends approved, reviewed and issue by the declaration 0.00
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
XVI. 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
(1) Segment reporting considerations
The Group principal decision-makers review the operation performance and distribute resources in accordance to the business
segments below.
(a) Display parts - This business mainly involves the R&D, production and distribution on the panel and module for TFT-LCD and
AM-OLED.
(b) Smart system -This business mainly involves the development, manufacture and sales of display terminal products and system;
OEM service for terminal products and system of TV, display, special display product; offering safe, energy-saving, healthy,
fashionable quality illumination service and solutions; the integration and operation for solar energy application system (e.g.
photovoltaic-thermal system), including key parts and overall solution for this area.
(c) Healthcare service -This business mainly covers Health Cloud, Health & Medical product, and Park Solution. Health Cloud is an
information management system based on cloud computing and cloud server; Health & Medical product and service mainly includes
wearable and testing equipments; Park Solution refers to professional solution for technology estate and heath estate and so on.
(d) Others - other service mainly includes technical development service and patent maintenance service
The main reason to separate the segments is that the Group independently manages the display parts business, the smart system
business, and healthcare service businesses. Because the business segments manufacture and distribute different products, apply to
different manufacturing processes and specify in gross profit, the business segments are managed independently. The management
evaluates the performance and allocates resources according to the profit of each business segment and does not take financing cost
and investment income into account.
(2) Accounting policy for the measurements of segment profit or loss, assets and liabilities
For the purposes of assessing segment performance and allocating resources between segments, the Group’s management regularly
reviews the assets, liabilities, revenue, cost and results of operations, attributable to each reportable segment on the following bases:
Segment assets include all tangible, intangible, other non-current and current assets, such as accounts receivable, with the exception
of deferred tax assets and other unallocated corporate assets. Segment liabilities include payables, bank borrowings and other
non-current liabilities attributable to the individual segments, but exclude deferred tax liabilities and other unallocated corporate
liabilities.
Financial performance is operating income (including operating income from external customers and inter-segment operating income)
after deducting expenses, depreciation, amortization, impairment losses, gains or losses from changes in fair value, investment gain,
non-operating income and expenses and income tax expenses attributable to the individual segments. Inter-segment sales are
determined with reference to prices charged to external parties for similar orders.
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(2) The financial information of reportable segment
Unit: RMB Yuan
Display devices Intelligent system
Item Health services Others Offset in segment Total
business business
Operation
23,281,888,424.00 5,316,700,647.00 421,831,018.00 397,746,294.00 -2,969,855,666.00 26,448,310,717.00
revenue
Operation cost 21,409,179,977.00 4,865,343,522.00 236,009,523.00 2,591,623.00 -2,526,033,487.00 23,987,091,158.00
(3) There was no reportable segment, or the total amount of assets and liabilities of each part of reportable
segment, shall disclose the reason.
Naught
(4) Other notes
Naught
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XVII. Notes of main items in the financial statements of the Company
1. 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
Withdrawal Book value Withdrawal Book value
Amount Proportion Amount Amount Proportion Amount
proportion proportion
Accounts receivable with
insignificant single amount for
0.00 0.00% 0.00 0.00% 0.00 0.00 0.00% 0.00 0.00% 0.00
which bad debt provision
separately accrued
Accounts receivable withdrawal
of bad debt provision of by 42,398,891.00 61.38% 0.00 0.00% 42,398,891.00 35,709,167.00 57.04% 0.00 0.00% 35,709,167.00
credit risks characteristics:
Accounts receivable with
insignificant single amount for
26,681,805.00 38.62% 2,945,489.00 11.04% 23,736,316.00 26,896,114.00 42.96% 3,207,351.00 11.92% 23,688,763.00
which bad debt provision
separately accrued
Total 69,080,696.00 100.00% 2,945,489.00 4.26% 66,135,207.00 62,605,281.00 100.00% 3,207,351.00 5.12% 59,397,930.00
Accounts receivable with single significant amount and withdrawal bad debt provision separately at end of period
□ Applicable √ Not applicable
In the groups, accounts receivable adopting aging analysis method to withdraw bad debt provision:
□ Applicable √ Not applicable
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
In the groups, accounts receivable adopting balance percentage method to withdraw bad debt provision:
□ Applicable √ Not applicable
In the groups, accounts receivable adopting other methods to withdraw bad debt provision:
Name of the group Withdraw methods for bad Basis Closing balance Closing balance of bad debt Withdrawal proportion
debt provision by group provision
Credit risk group Other methods With similar credit risks 42,398,891.00 0.00 0.00%
characteristics
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
(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 RMB2, 945,488.00 Yuan; the amount of the
reversed or collected part during the Reporting Period was of RMB0.00 Yuan.
Significant amount of reversed or recovered bad debt provision:
Unit: RMB Yuan
Name of the entity Amount Method
Naught
Naught
(3) The actual write-off accounts receivable
Unit: RMB Yuan
Item Amount
Credit risk group 261,863.00
Of which: significant actual verification of accounts receivable
Unit: RMB Yuan
Whether occurred
Name of the entity Nature Amount Reason Procedure because of related
party transactions
Naught
Notes:
Naught
(4) Top five of account receivable of closing balance collected by arrears party
The total amount of top five of account receivable of closing balance collected by arrears party was RMB57, 099,303 Yuan, 82.66%
of total closing balance of account receivable, the relevant closing balance of bad debt provision withdrawn was RMB473, 228 Yuan.
(5) Derecogniziton of account receivable due to the transfer of 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
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2. Other accounts receivable
(1) Other accounts receivable disclosed by category
Unit: RMB Yuan
Closing balance Opening balance
Bad debt Bad debt
Book balance Book balance
provision provision
Category Withdraw Withdraw
Book value Book value
Proporti Amou al Proporti Amou al
Amount Amount
on nt proportio on nt proportio
n n
Other
accounts
receivable
with
insignifican
t 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
bad debt
1,407,340,717. 1,407,340,717. 1,281,026,259. 1,281,026,259.
provision 100.00% 0.00 0.00% 100.00% 0.00 0.00%
00 00 00 00
according
to credit
risks
characteristi
cs
Other
accounts
receivable
with
0.00 0.00% 0.00 0.00% 0.00 0.00 0.00% 0.00 0.00% 0.00
insignifican
t single
amount for
which bad
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
debt
provision
separately
accrued
1,407,340,717. 1,407,340,717. 1,281,026,259. 1,281,026,259.
Total 100.00% 0.00 0.00% 100.00% 0.00 0.00%
00 00 00 00
Other receivable with single significant amount and withdrawal bad debt provision separately at end of period：
□ Applicable √ Not applicable
In the groups, other accounts receivable adopting aging analysis method to withdraw bad debt provision:
□ Applicable √ Not applicable
In the groups, other accounts receivable adopting balance percentage method to withdraw bad debt provision:
□ Applicable √ Not applicable
In the groups, other accounts receivable adopting other methods to withdraw bad debt provision:
√ Applicable □ Not applicable
Name of the group Closing balance
Other accounts receivable Bad debt provision Withdrawal proportion
Credit risk group 1,407,340,717.00 0.00 0.00%
Total 1,407,340,717.00 0.00 0.00%
(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 RMB0.00 Yuan; the amount of the reversed or
collected part during the Reporting Period was of RMB0.00 Yuan.
Of which the significant amount of the reversed or collected part during the Reporting Period:
Unit: RMB Yuan
Name of the entity Reversed or collected amount Method
Naught
Naught
(3) The actual write-off other accounts receivable
Unit: RMB Yuan
Item Amount
Naught
Of which significant actual verification of other accounts receivable:
Unit: RMB Yuan
Whether occurred
Name of the entity Nature Amount Reason Procedure because of related
party transactions
Naught
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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
Intercourse funds 1,063,808,427.00 777,919,107.00
Rent receivable 209,448,315.00 209,470,610.00
Technology using costs 77,893,171.00 227,819,480.00
Others 56,190,804.00 65,817,062.00
Total 1,407,340,717.00 1,281,026,259.00
(5) Top 5 of the closing balance of the other accounts receivable collected according to the arrears party
Unit: RMB Yuan
Closing balance of
Name of the entity Nature Closing balance Aging Proportion%
bad debt provision
Customer 1 Rent receivable 189,831,548.00 Over 3 years 13.49% 0.00
Customer 2 Intercourse funds 303,695,076.00 Within 1 year 21.58% 0.00
Technology using
Customer 3 23,042,234.00 Within 1 year 1.64% 0.00
costs
Technology using
Customer 4 23,725,750.00 Within 1 year 1.69% 0.00
costs
Within 1 year, 1-2 years,
Customer 5 Intercourse funds 702,286,001.00 49.90% 0.00
2-3 years
Total -- 1,242,580,609.00 -- 88.29% 0.00
(6) Account receivable involving government subsidies
Unit: RMB Yuan
Project of government Estimated recovering
Name of the entity Closing balance Closing aging
subsidies time, amount and basis
Naught
(7) Other account receivable derecognized due to the transfer of financial assets
Naught
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(8) Amount of transfer other account receivable and assets and liabilities formed by its continuous
involvement
Naught
Other notes:
Naught
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3. Long-term equity investment
Unit: RMB Yuan
Closing balance Opening balance
Item
Book balance Depreciation reserves Book value Book balance Depreciation reserves Book value
Investment to the
84,808,117,713.00 72,416,550.00 84,735,701,163.00 76,924,098,231.00 72,416,550.00 76,851,681,681.00
subsidiary
Investment to joint
ventures and associated 1,140,526,285.00 0.00 1,140,526,285.00 699,915,136.00 0.00 699,915,136.00
enterprises
Total 85,948,643,998.00 72,416,550.00 85,876,227,448.00 77,624,013,367.00 72,416,550.00 77,551,596,817.00
(1) Investment to the subsidiary
Unit: RMB Yuan
Withdrawn
impairment provision Closing balance of
Investee Opening balance Increase Decrease Closing balance
in the Reporting impairment provision
Period
Beijing BOE Vacuum Electronics Co., Ltd. 19,250,000.00 0.00 0.00 19,250,000.00 0.00 0.00
Beijing Yinghe Century Co., Ltd. 333,037,433.00 0.00 0.00 333,037,433.00 0.00 0.00
Beijing BOE Semi-conductor Co., Ltd. 9,450,000.00 0.00 0.00 9,450,000.00 0.00 0.00
BOE Optoelectronics Technology Co., Ltd. 359,961,914.00 60,000,000.00 0.00 419,961,914.00 0.00 0.00
BOE Hyundai LCD (Beijing) Display Technology
31,038,525.00 0.00 0.00 31,038,525.00 0.00 0.00
Co., Ltd.
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BOE (Hebei) Mobile Technology Co., Ltd. 553,651,020.00 0.00 0.00 553,651,020.00 0.00 0.00
Beijng BOE Land Co., Ltd. 7,731,474.00 0.00 0.00 7,731,474.00 0.00 0.00
Beijing Zhongxiangying Technology Co., Ltd. 10,000,000.00 0.00 0.00 10,000,000.00 0.00 0.00
Beijing Zhongpingxun Technology Co., Ltd. 10,000,000.00 0.00 0.00 10,000,000.00 0.00 0.00
Beijing BOE Optoelectronics Technology Co., Ltd. 4,172,288,084.00 0.00 0.00 4,172,288,084.00 0.00 0.00
Beijing BOE Special Display Technology Co., Ltd. 100,000,000.00 0.00 0.00 100,000,000.00 60,000,000.00 60,000,000.00
BOE Optoelectronics Holdings Co., Ltd. 210,894,285.00 33,519,482.00 0.00 244,413,767.00 0.00 0.00
BOE (Korea) Co., Ltd. 788,450.00 0.00 0.00 788,450.00 0.00 0.00
Beijing BOE Marketing Co., Ltd. 500,000.00 0.00 0.00 500,000.00 0.00 0.00
Beijing BOE Digital Technology Co., Ltd. 12,416,550.00 0.00 0.00 12,416,550.00 12,416,550.00 12,416,550.00
Beijing BOE Vacuum Technology Co., Ltd. 32,000,000.00 0.00 0.00 32,000,000.00 0.00 0.00
Beijing Asahi Glass Electronics Co., Ltd. 30,888,470.00 0.00 0.00 30,888,470.00 0.00 0.00
Chengdu BOE Optoelectronics Technology Co., Ltd. 2,833,149,991.00 2,200,000,000.00 0.00 5,033,149,991.00 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
BeijingMatsushita Color CRT Co., Ltd. 424,823,089.00 0.00 0.00 424,823,089.00 0.00 0.00
Beijing BOE Multimedia Technology Co. Ltd. 400,000,000.00 0.00 0.00 400,000,000.00 0.00 0.00
Beijing BOE Energy Technology Co., Ltd. 50,000,000.00 0.00 0.00 50,000,000.00 0.00 0.00
Beijing BOE Video Technology Co., Ltd. 560,000,000.00 400,000,000.00 0.00 960,000,000.00 0.00 0.00
Beijing BOE Display Technology Co., Ltd. 17,418,713,599.00 0.00 0.00 17,418,713,599.00 0.00 0.00
Ordos Yuansheng Optoelectronics Co., Ltd. 6,904,000,000.00 2,000,000,000.00 0.00 8,904,000,000.00 0.00 0.00
Erdos Haosheng Energy Investment Co., Ltd. 2,000,000.00 0.00 0.00 2,000,000.00 0.00 0.00
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., 15,739,669,199.00 0.00 0.00 15,739,669,199.00 0.00 0.00
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Ltd.
Fuzhou BOE Optoelectronic Technology Co., Ltd. 509,542,079.00 3,040,500,000.00 0.00 3,550,042,079.00 0.00 0.00
Intelligent Technology 0.00 50,000,000.00 0.00 50,000,000.00 0.00 0.00
BOE Healthcare Co., Ltd. 613,154,069.00 100,000,000.00 0.00 713,154,069.00 0.00 0.00
Total 76,924,098,231.00 7,884,019,482.00 0.00 84,808,117,713.00 72,416,550.00 72,416,550.00
(2) Investment to joint ventures and associated enterprises
Unit: RMB Yuan
Increase/decrease in Reporting Period
Closing
Investment profit Adjustment of
Opening Other Declaration of Withdrawn balance of
Investee Additional Negative and loss recognized other Closing balance
balance equity cash dividends impairment Others impairment
investment investment under the equity comprehensive
changes or profits provision provision
method income
I. Joint ventures
Naught
II. Associated enterprises
Beijing Nissin
Electronics Precision
3,011,145.00 0.00 0.00 -2,433,168.00 0.00 0.00 0.00 0.00 0.00 577,977.00 0.00
Component Co., Ltd.
(Nissin Electronics )
Beijing Nittan
Electronic Co., Ltd. 29,353,994.00 0.00 0.00 4,662,864.00 0.00 0.00 0.00 0.00 0.00 34,016,858.00 0.00
(Nittan Electronics)
Beijing Yingfei
324,895.00 0.00 0.00 -292,247.00 0.00 0.00 0.00 0.00 0.00 32,648.00 0.00
Hailin Venture
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Capital Management
Co., Ltd. (Yingfei
Hailin)
Ordos BOE Energy
Investment Co., Ltd.
9,476,536.00 0.00 0.00 -7,245.00 0.00 0.00 0.00 0.00 0.00 9,469,291.00 0.00
(BOE Energy
Investment)
Beijing Fly Hailin
117,872,528.00 11,333,400.00 0.00 -312,506.00 -4,418,377.00 877,087.00 0.00 0.00 0.00 125,352,132.00 0.00
Investment Center
TPV Display
Technology (China) 23,715,205.00 0.00 0.00 1,718,405.00 0.00 0.00 0.00 0.00 0.00 25,433,610.00 0.00
Limited
Hefei BOE Display
Technology Co., 85,566,875.00 444,000,000.00 0.00 -1,835,249.00 0.00 0.00 0.00 0.00 0.00 527,731,626.00 0.00
Ltd. )
Beijing
Xindongneng
370,261,522.00 0.00 0.00 -8,380,082.00 0.00 0.00 0.00 0.00 0.00 361,881,440.00 0.00
Investment Fund
(LLP)
Beijing
Xindongneng
Investment 1,921,429.00 0.00 0.00 755,313.00 0.00 0.00 0.00 0.00 0.00 2,676,742.00 0.00
Management Co.,
Ltd.
Shenzhen Yunyinggu
58,411,007.00 0.00 0.00 -5,057,046.00 0.00 0.00 0.00 0.00 0.00 53,353,961.00 0.00
Technology Co., Ltd.
Subtotal 699,915,136.00 455,333,400.00 0.00 -11,180,961.00 -4,418,377.00 877,087.00 0.00 0.00 0.00 1,140,526,285.00 0.00
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Total 699,915,136.00 455,333,400.00 0.00 -11,180,961.00 -4,418,377.00 877,087.00 0.00 0.00 0.00 1,140,526,285.00 0.00
(3) Other notes
Naught
211
2016 Semi-annual Report of BOE Technology Group Co., Ltd.
4. Revenue and Cost of Sales
Unit: RMB Yuan
Reporting Period Same period of last year
Item
Sales revenue Cost of sales Sales revenue Cost of sales
Main operations 0.00 0.00 0.00 0.00
Other operations 693,427,051.00 58,815,389.00 395,131,526.00 65,325,004.00
Total 693,427,051.00 58,815,389.00 395,131,526.00 65,325,004.00
Other notes: naught
5. Investment income
Unit: RMB Yuan
Item Reporting Period Same period of last year
Long-term equity investment income accounted by cost method 20,375,903.00 452,043,629.00
Long-term equity investment income accounted by equity method -11,180,961.00 10,557,037.00
Investment income arising from disposal of long-term equity investments 0.00 0.00
Investment income received from financial assets measured by fair value and
0.00 0.00
the changes be included in the current profits and losses during holding period
Investment income received from disposal of financial assets measured by
fair value and the changes be included in the current profits and losses during 0.00 0.00
holding period
Investment income of held to maturity investment during holding period 0.00 0.00
Investment income received from holding of available-for-sale financial assets 2,846,740.00 2,746,319.00
Investment income received from disposal of available-for-sale financial assets 0.00 0.00
After losing control, gain from the remaining stock premeasured at fair value 0.00 0.00
Investment income from wealth management products on maturity 6,335,442.00 0.00
Total 18,377,124.00 465,346,985.00
6. Other
Naught
XVIII. Supplementary materials
1. Items and amounts of extraordinary gains and losses
√ Applicable □ Not applicable
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Unit: RMB Yuan
Item Amount Explanation
Gains/losses on the disposal of non-current assets 2,530,679.00 Naught
Tax return and relief approved ultra vires or without any official approval
0.00 Naught
documents
Tax rebates, reductions or exemptions due to approval beyond authority
1,660,030,393.00 Naught
or the lack of official approval documents
Capital occupation charges on non-financial enterprises that are recorded
0.00 Naught
into current gains and losses
Gains due to that the investment costs for the Company to obtain
subsidiaries, associates and joint ventures are lower than the enjoyable
105,228,293.00 Naught
fair value of the identifiable net assets of the investees when making the
investments
Gain/loss on non-monetary asset swap 0.00 Naught
Gain/loss on entrusting others with investments or asset management 0.00 Naught
Asset impairment provisions due to acts of God such as natural disasters 0.00 Naught
Gains and losses from debt restructuring 0.00 Naught
Expenses on business reorganization, such as expenses on staff
0.00 Naught
arrangements, integration, etc.
Gain/loss on the part over the fair value due to transactions with distinctly
0.00 Naught
unfair prices
Current net gains and losses of subsidiaries acquired in business
combination under the same control from period-begin to combination 0.00 Naught
date
Profit and loss from contingencies irrelative to the normal business
0.00 Naught
operations of company
Gain/loss from change of fair value of transactional assets and liabilities,
and investment gains from disposal of transactional financial assets and
71,301,001.00 Naught
liabilities and available-for-sale financial assets, other than valid hedging
related to the Company’s common businesses
Depreciation reserves returns of receivables with separate depreciation
0.00 Naught
test
Gain/loss on entrustment loans 0.00 Naught
Gain/loss on change of the fair value of investing real estate of which the
0.00 Naught
subsequent 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 according to requirements of taxation, accounting and 0.00 Naught
other relevant laws and regulations
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Custody fee income when entrusted with operation 0.00 Naught
Other non-operating income and expenses other than the above 20,066,586.00 Naught
Project confirmed with the definition of non-recurring gains and losses
0.00 Naught
and losses
Less: Income tax effects 38,222,530.00 Naught
Minority interests effects 27,709,452.00 Naught
Total 1,793,224,970.00 --
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 √ Not applicable
2. Return on equity and earnings per share
EPS (Yuan/share)
Profit as of Reporting Period Weighted average ROE (%)
EPS-basic EPS-diluted
Net profit attributable to common
-0.67% -0.015 -0.015
shareholders of the Company
Net profit attributable to common
shareholders of the Company after -2.99% -0.066 -0.066
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 √ Not applicable
(2) Differences of net profit and net assets disclosed in financial reports prepared under overseas and
Chinese accounting standards
□ Applicable √ Not applicable
(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
Naught
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
4. Other
Naught
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2016 Semi-annual Report of BOE Technology Group Co., Ltd.
Section X. Documents Available For Reference
(I) The Financial Report has been signed by the head of the Company, President of the Executive Committee
(CEO) and Chief Financial Officer.
(II) 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 above mentioned 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: 26 Aug 2016
216
