BOE Technology Group Co., Ltd. Abstract of First Quarter Report 2017
Stock code: 000725, 200725 Stock name: BOE A, BOE B Announcement No.: 2017-026
BOE TECHNOLOGY GROUP CO., LTD.
ABSTRACT OF FIRST QUARTER REPORT 2017
Section I Important Statements
The board of directors (the “Board”), the supervisory board (the “Supervisory Board”), as
well as the directors, supervisors and senior executive officers of BOE Technology Group Co.,
Ltd. (the “Company”) hereby guarantee the factuality, accuracy and completeness of the
contents of this Report, and shall be jointly and severally liable for any false representation,
misleading statements or material omissions in this Report.
All directors attended the board meeting for the review of this Report.
Mr. Wang Dongsheng, head of the Company, Mr. Chen Yanshun, president of the Execution
Committee (chief executive officer) of the Company, Ms. Sun Yun, accounting head for this
Report, and Ms. Yang Xiaoping, head of the accounting department (head of accounting),
hereby guarantee that the financial statements carried in this Report are factual, accurate and
complete.
This Report and its abstract have 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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BOE Technology Group Co., Ltd. Abstract of First Quarter Report 2017
Section II Company Profile
I Key financial results
Indicate by tick mark whether the Company retroactively restated any of its accounting data due to changes of accounting policies or
correction of accounting errors.
□ Yes √ No
Item January-March 2017 January-March 2016 +/-%
Operating revenues (RMB Yuan) 21,854,974,362.00 12,297,738,830.00 77.72%
Net profit attributable to shareholders of the Company (RMB) 2,413,015,650.00 108,325,454.00 2,127.56%
Net profit attributable to shareholders of the Company before
2,301,442,129.00 -1,356,749,356.00 -269.63%
exceptional profit and loss (RMB Yuan)
Net cash flows from operating activities (RMB Yuan) 6,216,049,821.00 2,767,654,463.00 124.60%
Basic earnings per share (RMB Yuan/share) 0.069 0.003 2,200.00%
Diluted earnings per share (RMB Yuan/share) 0.069 0.003 2,200.00%
Weighted average return on equity (%) 3.02% 0.14% 2.88%
Item March 31, 2017 December 31, 2016 +/-%
Total assets (RMB Yuan) 213,743,747,227.00 205,135,011,042.00 4.20%
Net assets attributable to shareholders of the Company (RMB
80,974,386,351.00 78,699,988,493.00 2.89%
Yuan)
Exceptional profit/loss
√ Applicable □ Not applicable
Unit: RMB Yuan
Item January-March 2017 Note
Profit/loss on disposal of non-current assets (including offset asset impairment
-16,105,130.00 N/A
provisions)
Tax rebates, reductions and exemptions due to approval beyond authority or the
0.00 N/A
lack of official approval documents
Government subsidies charged to the profit/loss for this Reporting Period (except
for the government grants closely related to the business of the Company and
136,068,201.00 N/A
given at a fixed quota or amount in accordance with the State’s uniform
standards)
Capital occupation charges on non-financial enterprises that are charged to the
0.00 N/A
profit/loss for this Reporting Period
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BOE Technology Group Co., Ltd. Abstract of First Quarter Report 2017
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 0.00 N/A
of identifiable net assets of investees when making investments
Profit/loss on non-monetary asset swap 0.00 N/A
Profit/loss on entrusting others with investments or asset management 0.00 N/A
Asset impairment provisions due to acts of God such as natural disasters 0.00 N/A
Profit/loss on debt restructuring 0.00 N/A
Restructuring costs in staff arrangement, integration, etc. 0.00 N/A
Profit/loss on the part over the fair value due to transactions with distinctly unfair
0.00 N/A
prices
Net Reporting Period profit/loss on subsidiaries acquired through business
0.00 N/A
mergers under the same control from the period-beginning to merger dates
Profit/loss on contingencies irrelevant to the Company’s routine business
0.00 N/A
activities
Profit/loss on fair value changes of transactional financial assets and liabilities &
investment income from disposal of transactional financial assets and liabilities
3,096,278.00 N/A
as well as financial assets available for sale, except for effective hedges related to
routine operations of the Company
Impairment provision reversal for accounts receivable on which the impairment
29,398.00 N/A
test is carried out separately
Profit/loss on entrusted loans 0.00 N/A
Profit/loss on fair value changes in investing properties of which the subsequent
0.00 N/A
measurement 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 0.00 N/A
and other relevant laws and regulations
Custody fee income when entrusted with operations 0.00 N/A
Non-operating income and expense other than the above 6,953,716.00 N/A
Other profit/loss that meet the definition of exceptional profit/loss 0.00 N/A
Less: Corporate income tax 16,601,478.00 N/A
Minority interests (after tax) 1,867,464.00 N/A
Total 111,573,521.00 --
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
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BOE Technology Group Co., Ltd. Abstract of First Quarter Report 2017
No such cases in this Reporting Period.
II Total number of shareholders at the period-end and their shareholdings
1. Numbers of common shareholders and preference shareholders with resumed voting rights, as well as
shareholdings of top ten shareholders
Unit: share
1,056,889 (including 1,014,828 Total number of preference
Total number of common
A-share holders and 42,061 shareholders with resumed voting 0
shareholders at the period-end
B-share holders） rights at the period-end (if any)
Top ten shareholders
Nature of Shareholding Total shares held Number of restricted Pledged or frozen shares
Name of shareholder
shareholder percentage (%) at the period-end shares held Status Number
Beijing State-owned
State-owned
Capital Operation and 11.56% 4,063,333,333 4,063,333,333 -- 0
corporation
Management Center
Chongqing Ezcapital
Opto-electronics State-owned
8.53% 3,000,000,000 3,000,000,000 -- 0
Industry Investment corporation
Co., Ltd.
Hefei Jianxiang State-owned
8.13% 2,857,142,857 2,857,142,857 -- 0
Investment Co., Ltd. corporation
Beijing State-owned
Economic-Technologi corporation
3.53% 1,241,423,641 -- 0
cal Investment &
Development Corp.
Tianan Property
Insurance Co., Ltd. Other 3.45% 1,213,770,804 -- 0
－Baoying No. 1
China Securities Other
2.49% 876,936,082 -- 0
Finance Corp.
Beijing BOE State-owned
Investment & Corporation
2.34% 822,092,180 -- 0
Development Co.,
Ltd.
Hefei Rongke Project State-owned
1.92% 675,026,803 -- 0
Investment Co., Ltd. Corporation
National Social Other
1.07% 375,538,914 -- 0
Security Fund
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BOE Technology Group Co., Ltd. Abstract of First Quarter Report 2017
Portfolio 108
Beijing Electronics On behalf of the
0.78% 273,735,583 -- 0
Holdings Co., Ltd. government
Top ten non-restricted shareholders
Number of non-restricted shares Type of shares
Name of shareholder
held at the period-end Type Number
Beijing Economic-Technological Investment &
1,241,423,641 RMB common share 1,241,423,641
Development Corp.
Tianan Property Insurance Co., Ltd. －Baoying
1,213,770,804 RMB common share 1,213,770,804
No. 1
China Securities Finance Corp. 876,936,082 RMB common share 876,936,082
Beijing BOE Investment & Development Co.,
822,092,180 RMB common share 822,092,180
Ltd.
Hefei Rongke Project Investment Co., Ltd. 675,026,803 RMB common share 675,026,803
National Social Security Fund Portfolio 108 375,538,914 RMB common share 375,538,914
Beijing Electronics Holdings Co., Ltd. 273,735,583 RMB common share 273,735,583
Central Huijin Asset Management Co., Ltd. 248,305,300 RMB common share 248,305,300
National Social Security Fund Portfolio 111 212,381,398 RMB common share 212,381,398
Founder BEA Trust Co., Ltd- Founder
BEAHengsheng No.30 Securities Investment 208,652,800 RMB common share 208,652,800
Single Fund Trust
1. Beijing State-owned Capital Operation and Management Center held 100%
equities of Beijing Electronics Holdings Co., Ltd.
2. Beijing Electronics Holdings Co., Ltd. held 66.25% equities of Beijing BOE
Investment & Development Co., Ltd. and was its controlling shareholder.
3. After the non-public issuing of BOE in 2014, Hefei Jianxiang Investment Co.,
Ltd. and Chongqing Capital Photoelectricity Investment Co., Ltd., by entering
into Implementation Protocol of Voting Right respectively, agreed to maintain
all of the shares held by them respectively unanimous with Beijing BOE
Investment & Development Co., Ltd. when executing the voting rights of the
Related or acting-in-concert parties among the
shareholders.
shareholders above
4. After the non-public issuing of the Company in 2014, Beijing State-owned
Capital Operation and Management Center handed over 70% of the shares
directly held by it to Beijing Electronics Holdings Co., Ltd. for management
through Stock Management Protocol, and Beijing Electronics Holdings Co., Ltd.
gained the incidental shareholders’ rights except for disposing right and usufruct
of the shares, of which the rest 30% voting right maintained unanimous with
Beijing Electronics Holdings Co., Ltd. through the agreement according to
Implementation Protocol of Voting Right.
5. Except for relationship among the above shareholders, the Company is not
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BOE Technology Group Co., Ltd. Abstract of First Quarter Report 2017
aware of whether the other top ten shareholders exist associated relationship or
not, or they are persons acting in concert or not.
Top ten common shareholders conducting
N/A
securities margin trading (if any)
Indicate by tick mark whether any of the top ten common shareholders or the top ten non-restricted common shareholders of the
Company conducted any promissory repo during this Reporting Period.
□ Yea √ No
No such cases in this Reporting Period.
2. Total number of preference shareholders and shareholdings of the top ten of them
□ Applicable √ Not applicable
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BOE Technology Group Co., Ltd. Abstract of First Quarter Report 2017
Section III Significant Events
I Changes in the key financial results of this Reporting Period, as well as the reasons for such
changes
√ Applicable □ Not applicable
1. Operating revenues increased 78% from the same period of last year, mainly because of a larger business size and the higher
product prices.
2. Operating costs increased 35% from the same period of last year, mainly because of the increased operating revenues.
3. Selling expenses increased 122% from the same period of last year, mainly because of the increased operating revenues.
4. Non-operating revenues decreased 90% from the same period of last year, mainly because of the decreased governmental
subsidies.
5. Corporate income tax increased 3395% from the same period of last year, mainly because of the considerable growth in earnings.
6. Other current assets increased 73% from the opening amount, mainly because of more investment in wealth management products.
7. Long-term equity investments increased 48% from the opening amount, mainly because of more investment in associates.
8. Construction in progress increased 37% from the opening amount, mainly because the new projects proceeded.
9. Long-term accounts payable increased 78% from the opening amount, mainly because of the increased financial leasing.
10. Net cash inflows from operating activities increased 125% from the same period of last year, mainly because of a larger business
size and better operating profit.
11. Net cash outflows from investing activities increased 1040% from the same period of last year, mainly because of a higher
expenditure on new construction projects.
12. Net cash inflows from financing activities increased 271% from the same period of last year, mainly because more borrowings
were secured.
II Progress of significant events and their influence and solutions
√ Applicable □ Not applicable
1. According to the Notice About the Resolution of the 10th Meeting of the 8th Board of Directors(Notice No.: 2017-005) released on
March 4, 2017 by the Company, the Bill of Investing and Subscribing the Stock of Conga was approved that the Company would
subscribe the stock of Cnoga through its wholly owned subsidiary BOE Optoelectronics Co., Ltd with investment of USD50 million,
carrying out strategic cooperation with Cnoga Company, and developing products, like noninvasive multi-parameters detectors,
combination of glucose meter, and etc. for details, see the Notice of Investing and Subscribing the Stock of Conga (2017-006)
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BOE Technology Group Co., Ltd. Abstract of First Quarter Report 2017
disclosed on that day by the Company.
2. The Company Securities issued publicly for Qualified Investors in 2016 of BOE Technology Group Co., Ltd issued from March 21,
2016 to March 22, 2016 by the Company is about to be issued for one year to March 21, 2017. According to the rules, interests
should be paid once a year within the interest-bearing period. According to the Notice about Payment of Interest in 2017 of
"16BOE01"(Notice No.: 2017-007) disclosed on March 15, 2017, interest should be paid for RMB31.5 Yuan (including tax) per 10
bonds in this payment of interest plan.
3. On July 17, 2016, the Company disclosed the "Proposal on Repurchasing Some Public Shares of the Company", which was
considered and approved at the Third Special Shareholders' General Meeting in 2016. On September 20, 2016, the company
implemented the program of repurchasing part of the public shares for the first time. Up to March 31, 2017, the Company had
repurchased 88,692,299 A shares and 110,500,528 B shares. For details, please refer to the "Notice on Progress in Repurchase of
Some Public Shares" (Announcement No.: 2017-012) disclosed by the Company on 6 April.
4. On March 31, 2017, the Company disclosed the Announcement on the Agreement on Signing Investment Cooperation Framework
(Announcement No.: 2017-010). The Company and Yunnan North Oreide Optoelectronic Sci-tech Co., Ltd., Gao Ping Sci-tech
(Shenzhen) Co., Ltd. signed the "Investment Cooperation Framework Agreement", intending to cooperate in research and
development, production and sales of OLED micro-display in the field of consumer electronics.
5.The 9th board meeting of the 8th board of Directors was held on 11th January 2017, and the Bill of participating in subscribing
New Century Healthcare Initial Public offering stocks was approved during the meeting. BOE would subscribe 21.55 million stocks
of New Century Healthcare listed on The Stock Exchange of Hong Kong ltd. through its wholly owned subsidiary BOE (Hongkong),
paying 160,206386.05 HKD (Relevant fees included).
Summary of significant event Disclosure date Disclosure website
Announcement on Signing Investment Agreement 02/07/2017 www.cninfo.com.cn
Announcement on Signing Investment and Cooperation Agreement 03/24/2017 www.cninfo.com.cn
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BOE Technology Group Co., Ltd. Abstract of First Quarter Report 2017
III Overdue commitments of the Company’s actual controller, shareholders, related parties and acquirer, as well as the Company and
other commitment makers in this Reporting Period or ongoing at the period-end
√ Applicable □ Not applicable
Type of Date of commitment Period of
Commitment Commitment maker Contents Fulfillment
commitment making commitment
Commitments made in share reform
Commitments made in acquisition documents or
shareholding alteration documents
Commitments made in time of asset restructuring
Beijing State-owned Capital Committed that the shares
Operation and Management acquired from purchasing
Restricted
Center, Hefei Jianxiang would not be transferred from
Commitments made in time of IPO or refinancing shares 04/08/2014 36 months Ongoing
Investment Co., Ltd., Chongqing the first date of issuing the
commitments
Capital Optoelectronics newly increased shares of the
Investment Co., Ltd. issuer within 36 months
Commitments concerning stock ownership incentive
Other commitments made to minority interests
Fulfilled on time or not Yes
Specific reasons for failing to fulfill commitments on
N/A
time and plans for next step
IV Operating result forecast for January-June 2017
Warning of a forecast deficit or considerable YoY change in the accumulative net profit made during the period from the beginning of the year to the end of the next reporting period, as well as
explanation of why: □ Applicable √ Not applicable
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BOE Technology Group Co., Ltd. Abstract of First Quarter Report 2017
V Securities investments
√ Applicable □ Not applicable
Initial Opening Opening Closing Closing Profit/loss in
Variety of Code of Closing book
this Reporting
Name of securities investment cost shareholding shareholding shareholding shareholding value (RMB Accounting title Source
securities securities Period (RMB
Yuan)
(RMB Yuan) (share) percentage (share) percentage Yuan)
TPV Technology Available-for-sale
Stock HK00903 134,658,158.00 24,360,191 1.04% 24,360,191 1.04% 45,759,912.00 0.00 Subscribed for
financial asset
Electronic Zone Available-for-sale Obtained in a
Stock SH600658 90,160,428.00 9,819,493 1.69% 9,819,493 1.69% 132,563,156.00 0.00
financial asset stock swap
Available-for-sale
Stock HK01963 Bank of Chongqing 120,084,375.00 25,195,000 0.93% 25,195,000 0.93% 150,561,178.00 0.00 Subscribed for
financial asset
Available-for-sale
Stock HK06066 China Securities 70,041,364.00 11,387,500 0.16% 11,387,500 0.16% 72,802,193.00 0.00 Subscribed for
financial asset
New Century Available-for-sale
Stock HK01518 142,474,623.00 21,550,000 4.49% 21,550,000 4.49% 138,538,161.00 0.00 Subscribed for
Healthcare financial asset
Black Rock Global
Available-for-sale
Stock BLK Allocation Fund A2 4,004,297.00 16,989 0.06% 16,989 0.06% 6,186,680.00 0.00 Subscribed for
financial asset
USD
Other securities investments held at the
0.00 0 -- 0 -- 0.00 0.00 -- --
period-end
Total 561,423,245.00 92,329,173.00 -- 92,329,173.00 -- 546,411,280.00 0.00 -- --
Disclosure date of the announcement about the
N/A
board’s consent for the securities investment
Disclosure date of the announcement about the
general meeting’s consent for the securities N/A
investment (if any)
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BOE Technology Group Co., Ltd. Abstract of First Quarter Report 2017
VI Investments in derivative financial instruments
□ Applicable √ Not applicable
No such cases in the Reporting Period.
VII Visits paid to the Company in the Reporting Period for purposes of research,
communication, interview, etc.
√ Applicable □ Not applicable
Date of visit Way of visit Type of visitor Main inquiry information
01/04/2017 Field survey Institution
01/05/2017 Field survey Institution
01/09/2017 Field survey Institution
01/12/2017 Field survey Institution
01/12/2017 Field survey Institution
01/19/2017 Field survey Institution
02/08/2017 Field survey Institution
02/08/2017 Field survey Institution
02/08/2017 Phone talk Institution
02/16/2017 Phone talk Institution Main discussions:
02/20/2017 Phone talk Institution 1. The status quo and future outlook of
the Company;
02/21/2017 Field survey Institution
2. The status quo and development
02/28/2017 Field survey Institution trends of the industry; and
02/28/2017 Field survey Institution 3. The production lines of the Company.
02/28/2017 Phone talk Institution
02/28/2017 Field survey Institution
02/28/2017 Phone talk Institution
03/07/2017 Field survey Institution
03/14/2017 Field survey Institution
03/14/2017 Field survey Institution
03/20/2017 Field survey Institution
03/22/2017 Phone talk Institution
03/23/2017 Field survey Institution
03/28/2017 Field survey Institution
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BOE Technology Group Co., Ltd. Abstract of First Quarter Report 2017
VIII Illegal provision of guarantees for external parties
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IX Occupation of the Company’s funds by the controlling shareholder or its related parties
for non-operating purposes
□ Applicable √ Not applicable
No such cases in the Reporting Period.
Board Chairman: Mr. Wang Dongsheng
Date of the Approval of this Report by the Board: April 24, 2017
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