FIRST QUARTER REPORT 2019
April 2019
BOE Technology Group Co., Ltd. First Quarter Report 2019
Part I Important Notes
The Board of Directors (or the “Board”), the Supervisory Committee as well as the directors,
supervisors and senior management of BOE Technology Group Co., Ltd. (hereinafter referred
to as the “Company”) hereby guarantee the factuality, accuracy and completeness of the
contents of this Report and its summary, and shall be jointly and severally liable for any
misrepresentations, misleading statements or material omissions therein.
All the Company’s directors have attended the Board meeting for the review of this Report
and its summary.
Mr. Wang Dongsheng, the Company’s legal representative, Mr. Chen Yanshun, President of
the Execution Committee (Chief Executive Officer) of the Company, Ms. Sun Yun, the
Company’s Chief Financial Officer, and Ms. Yang Xiaoping, head of the Company’s financial
department (equivalent to financial manager)hereby guarantee that the Financial Statements
carried in this Report are factual, accurate and complete.
This 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.
2
BOE Technology Group Co., Ltd. First Quarter Report 2019
Part II Key Corporate Information
I Key Financial Information
Indicate by tick mark whether there is any retrospectively restated datum in the table below.
□ Yes √ No
Item Q1 2019 Q1 2018 Change (%)
Operating revenue (RMB) 26,454,258,554.00 21,566,813,037.00 22.66%
Net profit attributable to the listed company’s shareholders (RMB) 1,051,781,919.00 2,018,692,554.00 -47.90%
Net profit attributable to the listed company’s shareholders before
352,304,432.00 1,238,599,228.00 -71.56%
exceptional items (RMB)
Net cash generated from/used in operating activities (RMB) 6,164,241,385.00 7,198,088,816.00 -14.36%
Basic earnings per share (RMB/share) 0.030 0.058 -48.28%
Diluted earnings per share (RMB/share) 0.030 0.058 -48.28%
Weighted average return on equity (%) 1.22% 2.35% -1.13%
Item 31 March 2019 31 December 2018 Change (%)
Total assets (RMB) 308,295,146,086.00 304,028,491,385.00 1.40%
Equity attributable to the listed company’s shareholders (RMB) 87,077,785,020.00 85,856,748,703.00 1.42%
Exceptional gains and losses:
√ Applicable □ Not applicable
Unit: RMB
Item Q1 2019 Note
Gain or loss on disposal of non-current assets (inclusive of impairment allowance write-offs) 265,209.00 N/A
Tax rebates, reductions and exemptions with ultra vires approval or in lack of duly approved
0.00 N/A
document
Government subsidies charged to current profit and loss (exclusive of government subsidies
given in the Company’s ordinary course of business at fixed quotas or amounts as per 718,192,876.00 N/A
government’s uniform standards )
Capital occupation charges on non-financial enterprises that are charged to current gains and
0.00 N/A
losses
Income equal to the amount by which investment costs for the Company to obtain
subsidiaries, associates and joint ventures are lower than the Company’s enjoyable fair value 0.00 N/A
of identifiable net assets of investees when making investments
Gains and losses on non-monetary asset swap 0.00 N/A
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BOE Technology Group Co., Ltd. First Quarter Report 2019
Gains and losses on investment or asset management entrustments to other entities 0.00 N/A
Allowance for asset impairments due to acts of God such as natural disasters 0.00 N/A
Gains and losses on debt restructuring 0.00 N/A
Restructuring costs in staff arrangement, integration, etc. 0.00 N/A
Gains and losses on over-fair value amount as a result of transactions with distinctly unfair
0.00 N/A
prices
Current gains and losses on subsidiaries acquired through business mergers under same
0.00 N/A
control from period-beginning to merger dates, net
Gains and losses on contingencies that do not arise in the Company’s ordinary course of
0.00 N/A
business
Gain or loss on fair-value changes in trading financial assets and liabilities and derivative
financial assets and liabilities & investment income from disposal of trading financial assets
and liabilities and derivative financial assets and liabilities, and other creditors’ investment 45,166,494.00 N/A
(exclusive of effective portion of hedges that arise in the Company’s ordinary course of
business)
Reversed portion of impairment allowance for accounts receivable and contract assets which
0.00 N/A
are tested individually for impairment
Gains and losses on loan entrustment 0.00 N/A
Gains and losses on fair value changes in investment property of which subsequent
0.00 N/A
measurement is carried out using fair value method
Effects of all adjustments required by taxation, accounting and other applicable laws and
0.00 N/A
regulations on current gains and losses
Income from charges on entrusted management 0.00 N/A
Non-operating income and expense other than above 31,130,674.00 N/A
Other gains and losses that meet definition of nonrecurring gain/loss 0.00 N/A
Less: Income tax effects 54,217,884.00 N/A
Non-controlling interests effects (net of tax) 41,059,882.00 N/A
Total 699,477,487.00 --
Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item defined or listed in the Explanatory
Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Gain/Loss
Items:
□ Applicable √ Not applicable
No such cases for the Reporting Period.
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BOE Technology Group Co., Ltd. First Quarter Report 2019
II Total Number of Shareholders and Holdings of Top 10 Shareholders at 31 March 2019
1. Numbers of Ordinary Shareholders and Preferred Shareholders with Resumed Voting Rights as well as Holdings of Top 10 Shareholders
Unit: share
Number of ordinary shareholders at the period-end 1,612,810 (including 1,573,114 A-shareholders and 39,696 B-shareholders)
Top 10 shareholders
Shareholding Shares in pledge or frozen
Name of shareholder Nature of shareholder Total shares held Restricted shares held
percentage Status Shares
Beijing State-owned Capital Operation and Management Center State-owned legal person 11.68% 4,063,333,333 0 N/A 0
Chongqing Ezcapital Opto-electronic Industry Investment Co., Ltd. State-owned legal person 7.62% 2,652,813,041 0 N/A 0
Hefei Jianxiang Investment Co., Ltd. State-owned legal person 7.21% 2,510,142,953 0 N/A 0
Beijing Yizhuang Investment Holdings Co., Ltd State-owned legal person 3.57% 1,241,423,641 0 N/A 0
Beijing BOE Investment & Development Co., Ltd. State-owned legal person 2.36% 822,092,180 0 N/A 0
Hong Kong Securities Clearing Company Ltd. Foreign legal person 1.13% 392,805,995 0 N/A 0
Beijing Electronics Holdings Co., Ltd. State-owned legal person 0.79% 273,735,583 0 N/A 0
Central Huijin Assets Management Co., Ltd State-owned legal person 0.71% 248,305,300 0 N/A 0
National Social Security Fund Portfolio 108 State-owned legal person 0.52% 180,722,899 0 N/A 0
China Securities Finance Corporation Limited State-owned legal person 0.38% 132,480,249 0 N/A 0
Top 10 unrestricted shareholders
Shares by type
Name of shareholder Unrestricted shares held
Type Shares
Beijing State-owned Capital Operation and Management Center 4,063,333,333 RMB ordinary share 4,063,333,333
Chongqing Ezcapital Opto-electronic Industry Investment Co., Ltd. 2,652,813,041 RMB ordinary share 2,652,813,041
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BOE Technology Group Co., Ltd. First Quarter Report 2019
Hefei Jianxiang Investment Co., Ltd. 2,510,142,953 RMB ordinary share 2,510,142,953
Beijing Yizhuang Investment Holdings Co., Ltd 1,241,423,641 RMB ordinary share 1,241,423,641
Beijing BOE Investment & Development Co., Ltd. 822,092,180 RMB ordinary share 822,092,180
Hong Kong Securities Clearing Company Ltd. 392,805,995 RMB ordinary share 392,805,995
Beijing Electronics Holdings Co., Ltd. 273,735,583 RMB ordinary share 273,735,583
Central Huijin Assets Management Co., Ltd 248,305,300 RMB ordinary share 248,305,300
National Social Security Fund Portfolio 108 180,722,899 RMB ordinary share 180,722,899
China Securities Finance Corporation Limited 132,480,249 RMB ordinary share 132,480,249
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 EzcCapital
Opto-electronic Industry 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
Related or acting-in-concert parties among the shareholders above Co., Ltd. when executing the voting rights of the shareholders.
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 the above relationships, the Company does not know any other connected party or acting-in-concert party
among the top 10 shareholders.
Top 10 ordinary shareholders involved in securities margin trading
None
(if any)
Indicate by tick mark whether any of the top 10 ordinary shareholders or the top 10 unrestricted ordinary shareholders of the Company conducted any promissory repo during the Reporting
Period.
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BOE Technology Group Co., Ltd. First Quarter Report 2019
□ Yea √ No
No such cases in the Reporting Period.
2. Number of Preferred Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
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BOE Technology Group Co., Ltd. First Quarter Report 2019
Part III Significant Events
I Changes in Key Financial Statement Line Items and Explanation of why
√ Applicable □ Not applicable
1. The current portion of non-current liabilities as at 31 March 2019 rose 35% compared to 31 December 2018, primarily driven by
the transfer of the current portion of long-term borrowings into this item in Q 1 2019.
2. Bonds payable as at 31 March 2019 declined 94% compared to 31 December 2018, primarily driven by the advance cashing of
corporate bonds in Q 1 2019.
3. R&D expense went up 88% during Q 1 2019 compared to Q1 2018, primarily driven by a higher amount of R&D investment in
Q1 2019.
4. Finance costs went up 58% during Q 1 2019 compared to Q1 2018, primarily driven by a smaller exchange loss and a higher
interest expense resulted from the operation of new projects in Q1 2019.
5. Asset impairment loss went down 42% during Q 1 2019 compared to Q1 2018, primarily driven by a decrease in the inventory
valuation allowance recorded in Q1 2019 according to the lower of cost and net realizable value.
6. Return on investment went down 84% during Q 1 2019 compared to Q1 2018, primarily driven by a decrease in mature wealth
management products in Q1 2019.
II Progress, Influence and Solutions with regard to Significant Events
√ Applicable □ Not applicable
1. The wholly-owned subsidiary, BOE Technology (Hong Kong) Co., Ltd., filed lawsuits to Beijing Municipal Higher People's Court
against following Defendants: Letv Mobile Intelligent Information Technology (Beijing) Co., Ltd. (referred to as “Letv Mobile
hereinafter”) , TV Plus Holdings (Beijing) Limited, Leseil Mobile Technology (Beijing) Co., Ltd. and Jia Yueting, with the total
amount of claims being about US$41.84 million. Beijing Municipal Higher People's Court issued Notice of Case Acceptance and
Civil Ruling Paper for property preservation on 6 July 2017 and 31 July 2017 respectively. Letv Mobile raised the jurisdiction
objection to Beijing Municipal Higher People's Court, which was rejected, and also instituted an appeal to the Supreme People's
Court for verdict on jurisdiction objection. The Supreme People's Court made the final verdict and rejected the appeal of Letv mobile,
upholding the original verdict. On 8 March 2019, this case was heard for the first time by Beijing Municipal Higher People’s Court,
waiting for the notice or judgment from the court for the next step. For receivables corresponding to aforementioned amount of
claims, the Company has counted provision for bad debts as per regulations in accounting standard accordingly; therefore, it has
uncertain influences on the Company.
2. The corporate bonds (Phase I) of BOE Technology Group Co., Ltd. issued to public qualified investors from 21 March 2016 to 22
March 2016 reached 3 full years by 21 March 2019. According to regulations, the interest should be paid once per year during the
interest-bearing period. According to the agreed put provisions from Prospectus of the Corporate Bonds (Phase I) of BOE
Technology Group Co., Ltd. Issued to Public Qualified Investors in 2016, the Company published The First Reminder of No
Adjustments to Coupon Rate of Corporate Bonds “16BOE01” and Implementation Measures for Put-backs by Investors
(Announcement No.: 2019-001), The Second Reminder of No Adjustments to Coupon Rate of Corporate Bonds “16BOE01” and
Implementation Measures for Put-backs by Investors (Announcement No.: 2019-003), and The Third Reminder of No Adjustments to
Coupon Rate of Corporate Bonds “16BOE01” and Implementation Measures for Put-backs by Investors (Announcement No.:
2019-004) on 31 January 2019, 1 February 2019, and 12 February 2019 respectively. Investors can choose to sell all their holding
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BOE Technology Group Co., Ltd. First Quarter Report 2019
“16BOE01” or part of it back to the Company within the registered period of put-backs with the price of RMB100/piece (excluding
interests). In accordance with the data provided by Shenzhen Branch of China Securities Depository and Cleaning Corporation
Limited, the number of the put-backs of “16BOE01” was 96,705,976, and the price was RMB9,975,221,424.40 (including interests),
and the remaining number for trusteeship was 3,294,024. The Company issued Announcement on Payment “16BOE01” Interest 2019
(Announcement No.: 2019-009) on 14 March 2019, in which the interest should be paid as per the standard of RMB31.5
(tax-inclusive) for every 10 bonds. 21 March 2019 was the payment date for capital and interests of this put-back declaration, and the
Company has paid principal and the current interests to the bondholders of “16BOE01” declared effectively for put-back. The
Company convened the 1st Meeting of Bondholders in 2019 for 2016 Corporate Bonds on 28 March 2019, which reviewed and
approved the Proposal on Payment in Advance to 2016 Corporate Bonds of BOE Technology Group Co., Ltd, and the Company
disclosed Announcement on Resolutions Made at the 1st Meeting of Bondholders in 2019 for 2016 Corporate Bonds (Announcement
No.: 2019-022) on 29 March 2019. The Company paid the interests of “16BOE01” bonds from 21 March 2019 to 2 April 2019 and
its principal on 3 April 2019. The Bonds was delisted on 3 April 2019, and the record date of payment for principal and interests was
2 April 2019. The trading of “16BOE01” was terminated on the trading system of Shenzhen Stock Exchange on 3 April 2019.
3. The Company issued Pre-disclosure Announcement on Stock Reduction of Shareholders with More than 5% Stocks (I)
(Announcement No.: 2019-007) and Pre-disclosure Announcement on Stock Reduction of Shareholders with More than 5% Stocks
(II) (Announcement No.: 2019-008) on 6 March 2019; shareholders of the Company as Hefei Jianxiang Investment Co., Ltd. and
Chongqing EzcCapital Opto-electronic Industry Investment Co., Ltd. planned to reduce no more than 1.00% of general capital of the
Company by means of centralized competitive bidding within 3 months after 15 working days since the issuance of each
Announcement.
Index to the related
Summary of the significant event Disclosure date
announcement
Announcement on Project of Investing and Establishing Beijing BOE Life
26 March 2019 www.cninfo.com.cn
Science and Technology Industrial Base (Phase I)
Progress of any share repurchases:
□ Applicable √ Not applicable
Progress of any reduction of the repurchased shares through centralized bidding:
□ Applicable √ Not applicable
III Commitments that the Company’s Actual Controller, Shareholders, Related Parties,
Acquirers, the Company Itself or Other Parties, Failed to Fulfill on Time during the
Reporting Period
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IV Operating Performance Forecast for H1 2019
Warning of a forecast loss on or a forecast significant year-on-year change in the net profit of H1 2019, as well as explanation of
why:
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BOE Technology Group Co., Ltd. First Quarter Report 2019
□ Applicable √ Not applicable
10
BOE Technology Group Co., Ltd. First Quarter Report 2019
V Securities Investments
√ Applicable □ Not applicable
Gain/loss of Accumulative Purchased Sold in
Accounting Gain/loss
Variety of Symbol of Name of Initial Beginning changes in fair changes in fair in the thein Ending Accounting Capital
measurement
security security security investment cost carrying value value in the value recorded Reporting Reporting Reporting carrying value title source
model Period
Reporting Period into equities Period Period
Domestic Other
and TPV Fair value equity Self-owned
HK00903 134,658,158.00 25,613,279.00 0.00 9,987,282.00 0.00 0.00 0.00 38,030,589.00
overseas Technology method instruments funds
stock investment
Domestic Other
and Electronic Fair value equity Self-owned
SH600658 90,160,428.00 83,995,943.00 0.00 43,781,546.00 0.00 0.00 0.00 90,457,170.00
overseas Zone method instruments funds
stock investment
Domestic Other
and Bank of Fair value equity Self-owned
HK01963 120,084,375.00 98,705,065.00 0.00 -11,584,716.00 0.00 0.00 0.00 108,499,659.00
overseas Chongqing method instruments funds
stock investment
Domestic Other
and China Fair value equity Self-owned
HK06066 70,041,364.00 44,412,575.00 0.00 -1,855,538.00 0.00 0.00 0.00 68,185,826.00
overseas Securities method instruments funds
stock investment
Domestic Other
New
and Fair value equity Self-owned
HK01518 Century 140,848,850.00 125,909,255.00 0.00 -36,922,892.00 0.00 0.00 0.00 103,925,958.00
overseas method instruments funds
Healthcare
stock investment
11
BOE Technology Group Co., Ltd. First Quarter Report 2019
Other securities investments held at
0.00 -- 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -- --
the period-end
Total 555,793,175.00 -- 378,636,117.00 0.00 3,405,682.00 0.00 0.00 0.00 409,099,202.00 -- --
Disclosure date of the announcement
about the board’s consent for the N/A
securities investment
Disclosure date of the announcement
about the general meeting’s consent N/A
for the securities investment (if any)
VI Investments in Derivative Financial Instruments
□ Applicable √ Not applicable
No such cases in the Reporting Period.
12
BOE Technology Group Co., Ltd. First Quarter Report 2019
VII Communications with the Investment Community such as Researches, Inquiries and
Interviews during the Reporting Period
√ Applicable □ Not applicable
Date Way of communication Type of communication party Index to main information communicated
17 January 2019 One-on-one meeting Institution
Main contents:
21 January 2019 One-on-one meeting Institution 1. the main situations of the industry
22 January 2019 One-on-one meeting Institution 2. main operating information of the Company
15 February 2019 One-on-one meeting Institution 3. innovations of technology and products
25 February 2019 One-on-one meeting Institution 4. future strategy layout
For details, see www.cninfo.com.cn
26 March 2019 One-on-one meeting Institution
VIII Irregularities in the Provision of Guarantees
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IX Occupation of the Company’s Capital by the Controlling Shareholder or Its Related
Parties for Non-Operating Purposes
□ Applicable √ Not applicable
No such cases in the Reporting Period.
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BOE Technology Group Co., Ltd. First Quarter Report 2019
Part IV Financial Statements
I Financial Statements
1. Consolidated Balance Sheet
Prepared by BOE Technology Group Co., Ltd.
Unit: RMB
Item 31 March 2019 31 December 2018
Current assets:
Monetary capital 49,875,146,641.00 51,481,539,711.00
Settlement reserve 0.00 0.00
Interbank loans granted 0.00 0.00
Trading financial assets 5,165,010,209.00 0.00
Financial assets at fair value through profit or loss 0.00 0.00
Derivative financial assets 0.00 0.00
Notes and accounts receivable 18,291,151,255.00 20,537,462,095.00
Including: Notes receivable 249,576,484.00 656,781,577.00
Accounts receivable 18,041,574,771.00 19,880,680,518.00
Prepayments 995,850,752.00 770,633,448.00
Premiums receivable 0.00 0.00
Reinsurance receivables 0.00 0.00
Receivable reinsurance contract reserve 0.00 0.00
Other receivables 708,631,265.00 2,454,174,971.00
Including: Interest receivable 153,524,757.00 140,597,317.00
Dividends receivable 3,711,768.00 3,711,768.00
Financial assets purchased under resale agreements 0.00 0.00
Inventories 12,802,431,291.00 11,985,398,172.00
Contractual assets 0.00 0.00
Assets classified as held for sale 0.00 0.00
Current portion of non-current assets 0.00 0.00
Other current assets 8,061,234,978.00 12,463,073,779.00
Total current assets 95,899,456,391.00 99,692,282,176.00
Non-current assets:
14
BOE Technology Group Co., Ltd. First Quarter Report 2019
Loans and advances to customers 0.00 0.00
Investments in debt obligations 0.00 0.00
Available-for-sale financial assets 0.00 734,022,359.00
Investments in other debt obligations 13,046,664.00 0.00
Held-to-maturity investments 0.00 0.00
Long-term receivables 0.00 0.00
Long-term equity investments 2,444,706,447.00 2,389,166,886.00
Investments in other equity instruments 746,668,015.00 0.00
Other non-current financial assets 0.00 0.00
Investment property 1,273,733,185.00 1,283,867,651.00
Fixed assets 130,606,378,836.00 128,157,730,995.00
Construction in progress 59,754,270,991.00 56,423,354,887.00
Productive living assets 0.00 0.00
Oil and gas assets 0.00 0.00
Right-of-use assets 0.00 0.00
Intangible assets 6,591,394,536.00 5,937,679,394.00
R&D expense 0.00 0.00
Goodwill 904,370,509.00 904,370,509.00
Long-term prepaid expense 364,264,719.00 360,640,853.00
Deferred income tax assets 202,939,103.00 252,373,622.00
Other non-current assets 9,493,916,690.00 7,893,002,053.00
Total non-current assets 212,395,689,695.00 204,336,209,209.00
Total assets 308,295,146,086.00 304,028,491,385.00
Current liabilities:
Short-term borrowings 6,233,728,256.00 5,449,954,885.00
Borrowings from central bank 0.00 0.00
Interbank loans obtained 0.00 0.00
Trading financial liabilities 0.00 0.00
Financial liabilities at fair value through profit or loss 0.00 0.00
Derivative financial liabilities 0.00 0.00
Notes and accounts payable 21,692,639,566.00 22,805,065,888.00
Advances from customers 1,201,127,923.00 1,218,934,743.00
Financial assets sold under repurchase agreements 0.00 0.00
Customer deposits and interbank deposits 0.00 0.00
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BOE Technology Group Co., Ltd. First Quarter Report 2019
Payables for acting trading of securities 0.00 0.00
Payables for underwriting of securities 0.00 0.00
Payroll payable 1,269,963,130.00 2,224,931,171.00
Taxes payable 733,397,450.00 970,108,298.00
Other payables 22,758,208,584.00 22,956,979,828.00
Including: Interest payable 252,445,480.00 1,016,761,921.00
Dividends payable 8,051,171.00 23,648,778.00
Handling charges and commissions payable 0.00 0.00
Reinsurance payables 0.00 0.00
Contractual liabilities 0.00 0.00
Liabilities directly associated with assets classified as held for sale 0.00 0.00
Current portion of non-current liabilities 7,556,602,983.00 5,597,563,204.00
Other current liabilities 1,086,728,649.00 1,004,557,061.00
Total current liabilities 62,532,396,541.00 62,228,095,078.00
Non-current liabilities:
Insurance contract reserve 0.00 0.00
Long-term borrowings 106,633,660,880.00 94,780,077,864.00
Bonds payable 629,445,083.00 10,288,666,233.00
Including: Preferred shares 0.00 0.00
Perpetual bonds 0.00 0.00
Lease liabilities 0.00 0.00
Long-term payables 1,307,079,824.00 1,416,092,239.00
Long-term payroll payable 0.00 0.00
Provisions 16,457,010.00 16,457,010.00
Deferred income 2,649,128,572.00 2,187,558,533.00
Deferred income tax liabilities 1,458,211,638.00 1,419,373,545.00
Other non-current liabilities 10,202,545,218.00 11,334,873,322.00
Total non-current liabilities 122,896,528,225.00 121,443,098,746.00
Total liabilities 185,428,924,766.00 183,671,193,824.00
Owners’ equity:
Share capital 34,798,398,763.00 34,798,398,763.00
Other equity instruments 0.00 0.00
Including: Preferred shares 0.00 0.00
Perpetual bonds 0.00 0.00
16
BOE Technology Group Co., Ltd. First Quarter Report 2019
Capital reserves 38,214,670,857.00 38,213,100,596.00
Less: Treasury stock 0.00 0.00
Other comprehensive income -166,590,853.00 -125,258,252.00
Special reserves 0.00 0.00
Surplus reserves 1,152,626,310.00 1,152,626,310.00
General reserve 0.00 0.00
Retained earnings 13,078,679,943.00 11,817,881,286.00
Total equity attributable to owners of the Company as the parent 87,077,785,020.00 85,856,748,703.00
Non-controlling interests 35,788,436,300.00 34,500,548,858.00
Total owners’ equity 122,866,221,320.00 120,357,297,561.00
Total liabilities and owners’ equity 308,295,146,086.00 304,028,491,385.00
Legal representative: Wang Dongsheng Chief Financial Officer: Sun Yun
Head of the Company’s Financial Department: Yang Xiaoping
2. Balance Sheet of the Company as the Parent
Unit: RMB
Item 31 March 2019 31 December 2018
Current assets:
Monetary capital 2,667,974,474.00 3,829,814,050.00
Trading financial assets 0.00 0.00
Financial assets at fair value through profit or loss 0.00 0.00
Derivative financial assets 0.00 0.00
Notes and accounts receivable 1,184,249,134.00 38,452,623.00
Including: Notes receivable 0.00 1,500,000.00
Accounts receivable 1,184,249,134.00 36,952,623.00
Prepayments 41,788,399.00 25,020,734.00
Other receivables 2,988,125,815.00 2,015,828,460.00
Including: Interest receivable 10,332,429.00 9,659,279.00
Dividends receivable 14,115,915.00 14,115,915.00
Inventories 9,599,554.00 9,289,141.00
Contractual assets 0.00 0.00
Assets classified as held for sale 0.00 0.00
Current portion of non-current assets 500,000,000.00 450,000,000.00
Other current assets 35,030,768.00 47,805,096.00
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BOE Technology Group Co., Ltd. First Quarter Report 2019
Total current assets 7,426,768,144.00 6,416,210,104.00
Non-current assets:
Investments in debt obligations 0.00 0.00
Available-for-sale financial assets 0.00 128,297,254.00
Investments in other debt obligations 0.00 0.00
Held-to-maturity investments 0.00 0.00
Long-term receivables 0.00 0.00
Long-term equity investments 144,743,554,939.00 143,499,733,485.00
Investments in other equity instruments 147,175,791.00 0.00
Other non-current financial assets 0.00 0.00
Investment property 288,811,264.00 290,253,475.00
Fixed assets 950,684,291.00 969,371,352.00
Construction in progress 267,128,991.00 251,314,313.00
Productive living assets 0.00 0.00
Oil and gas assets 0.00 0.00
Right-of-use assets 0.00 0.00
Intangible assets 1,185,571,674.00 514,186,496.00
R&D expense 0.00 0.00
Goodwill 0.00 0.00
Long-term prepaid expense 91,765,654.00 99,701,797.00
Deferred income tax assets 267,504,641.00 290,794,548.00
Other non-current assets 183,698,395.00 284,243,667.00
Total non-current assets 148,125,895,640.00 146,327,896,387.00
Total assets 155,552,663,784.00 152,744,106,491.00
Current liabilities:
Short-term borrowings 2,800,000,000.00 1,000,000,000.00
Trading financial liabilities 0.00 0.00
Financial liabilities at fair value through profit or loss 0.00 0.00
Derivative financial liabilities 0.00 0.00
Notes and accounts payable 36,017,407.00 35,322,286.00
Advances from customers 2,537,775,252.00 1,577,035,515.00
Contractual liabilities 0.00 0.00
Payroll payable 88,873,048.00 201,139,261.00
Taxes payable 152,178,466.00 250,558,556.00
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BOE Technology Group Co., Ltd. First Quarter Report 2019
Other payables 6,405,223,216.00 8,209,736,090.00
Including: Interest payable 126,523,572.00 330,964,989.00
Dividends payable 6,451,171.00 6,451,171.00
Liabilities directly associated with assets classified as held for sale 0.00 0.00
Current portion of non-current liabilities 2,593,400,000.00 2,590,000,000.00
Other current liabilities 0.00 0.00
Total current liabilities 14,613,467,389.00 13,863,791,708.00
Non-current liabilities:
Long-term borrowings 36,090,830,556.00 26,520,000,000.00
Bonds payable 328,712,026.00 9,976,533,425.00
Including: Preferred shares 0.00 0.00
Perpetual bonds 0.00 0.00
Lease liabilities 0.00 0.00
Long-term payables 0.00 0.00
Long-term payroll payable 0.00 0.00
Provisions 0.00 0.00
Deferred income 5,296,569,445.00 5,523,949,841.00
Deferred income tax liabilities 0.00 0.00
Other non-current liabilities 21,763,404,139.00 20,954,104,125.00
Total non-current liabilities 63,479,516,166.00 62,974,587,391.00
Total liabilities 78,092,983,555.00 76,838,379,099.00
Owners’ equity:
Share capital 34,798,398,763.00 34,798,398,763.00
Other equity instruments 0.00 0.00
Including: Preferred shares 0.00 0.00
Perpetual bonds 0.00 0.00
Capital reserves 37,590,966,191.00 37,590,966,191.00
Less: Treasury stock 0.00 0.00
Other comprehensive income -268,562,087.00 -28,507,585.00
Special reserves 0.00 0.00
Surplus reserves 1,152,626,310.00 1,152,626,310.00
Retained earnings 4,186,251,052.00 2,392,243,713.00
Total owners’ equity 77,459,680,229.00 75,905,727,392.00
Total liabilities and owners’ equity 155,552,663,784.00 152,744,106,491.00
19
BOE Technology Group Co., Ltd. First Quarter Report 2019
3. Consolidated Income Statement
Unit: RMB
Item Q1 2019 Q1 2018
1. Revenue 26,454,258,554.00 21,566,813,037.00
Including: Operating revenue 26,454,258,554.00 21,566,813,037.00
Interest income 0.00 0.00
Premium income 0.00 0.00
Handling charge and commission income 0.00 0.00
2. Costs and expenses 25,956,845,201.00 20,263,550,173.00
Including: Cost of sales 21,782,563,658.00 17,087,543,193.00
Interest expense 0.00 0.00
Handling charge and commission expense 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 expense 0.00 0.00
Taxes and surcharges 226,900,931.00 126,606,726.00
Selling expense 692,725,472.00 645,056,446.00
Administrative expense 1,088,056,984.00 1,042,782,270.00
R&D expense 1,446,311,254.00 767,711,603.00
Finance costs 592,127,674.00 374,634,713.00
Including: Interest expense 1,045,208,338.00 624,044,167.00
Interest income 212,034,995.00 190,990,756.00
Asset impairment loss 128,159,228.00 219,215,222.00
Credit impairment loss 0.00 0.00
Add: Other income 708,917,047.00 969,676,260.00
Return on investment (“-” for loss) 13,643,831.00 83,598,808.00
Including: Share of profit or loss of joint ventures and associates -827,046.00 1,295,650.00
Foreign exchange gain (“-” for loss) 0.00 0.00
Net gain on exposure hedges (“-” for loss) 0.00 0.00
Gain on changes in fair value (“-” for loss) 34,134,042.00 339,163.00
Asset disposal income (“-” for loss) 148,256.00 1,632,178.00
3. Operating profit (“-” for loss) 1,254,256,529.00 2,358,509,273.00
20
BOE Technology Group Co., Ltd. First Quarter Report 2019
Add: Non-operating income 43,268,744.00 36,995,667.00
Less: Non-operating expense 2,745,286.00 6,417,967.00
4. Profit before tax (“-” for loss) 1,294,779,987.00 2,389,086,973.00
Less: Income tax expense 452,920,271.00 452,265,009.00
5. Net profit (“-” for net loss) 841,859,716.00 1,936,821,964.00
5.1 By operating continuity
5.1.1 Net profit from continuing operations (“-” for net loss) 841,859,716.00 1,936,821,964.00
5.1.2 Net profit from discontinued operations (“-” for net loss) 0.00 0.00
5.2 By ownership
5.2.1 Net profit attributable to owners of the Company as the parent 1,051,781,919.00 2,018,692,554.00
5.2.1 Net profit attributable to non-controlling interests -209,922,203.00 -81,870,590.00
6. Other comprehensive income, net of tax 153,368,686.00 26,569,758.00
Attributable to owners of the Company as the parent 164,858,780.00 79,286,210.00
6.1 Items that will not be reclassified to profit or loss 32,749,507.00 0.00
6.1.1 Changes caused by remeasurements on defined benefit
0.00 0.00
pension schemes
6.1.2 Other comprehensive income that will not be reclassified to
0.00 0.00
profit or loss under the equity method
6.1.3 Changes in the fair value of investments in other equity
32,749,507.00 0.00
instruments
6.1.4 Changes in the fair value of the company’s credit risks 0.00 0.00
6.1.5 Other 0.00 0.00
6.2 Items that will be reclassified to profit or loss 132,109,273.00 79,286,210.00
6.2.1 Other comprehensive income that will be reclassified to
0.00 0.00
profit or loss under the equity method
6.2.2 Changes in the fair value of investments in other debt
0.00 0.00
obligations
6.2.3 Gain/Loss on changes in the fair value of available-for-sale
0.00 11,492,337.00
financial assets
6.2.4 Other comprehensive income arising from the
0.00 0.00
reclassification of financial assets
6.2.5 Gain/Loss arising from the reclassification of
0.00 0.00
held-to-maturity investments to available-for-sale financial assets
6.2.6 Allowance for credit impairments in investments in other
0.00 0.00
debt obligations
6.2.7 Reserve for cash flow hedges 0.00 0.00
6.2.8 Differences arising from the translation of foreign
132,109,273.00 67,793,873.00
currency-denominated financial statements
21
BOE Technology Group Co., Ltd. First Quarter Report 2019
6.2.9 Other 0.00 0.00
Attributable to non-controlling interests -11,490,094.00 -52,716,452.00
7. Total comprehensive income 995,228,402.00 1,963,391,722.00
Attributable to owners of the Company as the parent 1,216,640,699.00 2,097,978,764.00
Attributable to non-controlling interests -221,412,297.00 -134,587,042.00
8. Earnings per share
8.1 Basic earnings per share 0.030 0.058
8.2 Diluted earnings per share 0.030 0.058
Where business combinations under common control occurred in the current period, the net profit achieved by the acquirees before
the combinations was RMB0.00, with the amount for the same period of last year being RMB0.00.
Legal representative: Wang Dongsheng Chief Financial Officer: Sun Yun
Head of the Company’s Financial Department: Yang Xiaoping
4. Income Statement of the Company as the Parent
Unit: RMB
Item Q1 2019 Q1 2018
1. Operating revenue 1,550,181,250.00 1,357,965,239.00
Less: Cost of sales 5,726,539.00 4,315,232.00
Taxes and surcharges 11,878,427.00 11,104,418.00
Selling expense 9,331.00 289,489.00
Administrative expense 163,686,723.00 167,963,569.35
R&D expense 412,873,692.00 232,327,650.65
Finance costs 263,332,770.00 158,619,260.00
Including: Interest expense 299,804,031.00 171,461,456.04
Interest income 11,512,552.00 8,397,222.02
Asset impairment loss 0.00 0.00
Credit impairment loss 0.00 0.00
Add: Other income 227,895,820.00 227,603,341.00
Return on investment (“-” for loss) 805,532,954.00 1,295,650.00
Including: Share of profit or loss of joint ventures and associates -827,046.00 1,295,650.00
Net gain on exposure hedges (“-” for loss) 0.00 0.00
Gain on changes in fair value (“-” for loss) 0.00 0.00
Asset disposal income (“-” for loss) 0.00 0.00
2. Operating profit (“-” for loss) 1,726,102,542.00 1,012,244,611.00
22
BOE Technology Group Co., Ltd. First Quarter Report 2019
Add: Non-operating income 1,416,727.00 1,217,875.00
Less: Non-operating expense 206,858.00 314,221.00
3. Profit before tax (“-” for loss) 1,727,312,411.00 1,013,148,265.00
Less: Income tax expense 189,406,330.00 148,804,250.00
4. Net profit (“-” for net loss) 1,537,906,081.00 864,344,015.00
4.1 Net profit from continuing operations (“-” for net loss) 1,537,906,081.00 864,344,015.00
4.2 Net profit from discontinued operations (“-” for net loss) 0.00 0.00
5. Other comprehensive income, net of tax 16,046,756.00 -15,563,430.00
5.1 Items that will not be reclassified to profit or loss 16,046,756.00 0.00
5.1.1 Changes caused by remeasurements on defined benefit
0.00 0.00
pension schemes
5.1.2 Other comprehensive income that will not be reclassified to
0.00 0.00
profit or loss under the equity method
5.1.3 Changes in the fair value of investments in other equity
16,046,756.00 0.00
instruments
5.1.4 Changes in the fair value of the company’s credit risks 0.00 0.00
5.1.5 Other 0.00 0.00
5.2 Items that will be reclassified to profit or loss 0.00 -15,563,430.00
5.2.1 Other comprehensive income that will be reclassified to profit
0.00 0.00
or loss under the equity method
5.2.2 Changes in the fair value of investments in other debt
0.00 0.00
obligations
5.2.3 Gain/Loss on changes in the fair value of available-for-sale
0.00 -15,563,430.00
financial assets
5.2.4 Other comprehensive income arising from the reclassification
0.00 0.00
of financial assets
5.2.5 Gain/Loss arising from the reclassification of held-to-maturity
0.00 0.00
investments to available-for-sale financial assets
5.2.6 Allowance for credit impairments in investments in other debt
0.00 0.00
obligations
5.2.7 Reserve for cash flow hedges 0.00 0.00
5.2.8 Differences arising from the translation of foreign
0.00 0.00
currency-denominated financial statements
5.2.9 Other 0.00 0.00
6. Total comprehensive income 1,553,952,837.00 848,780,585.00
7. Earnings per share
7.1 Basic earnings per share 0.044 0.248
7.2 Diluted earnings per share 0.044 0.248
23
BOE Technology Group Co., Ltd. First Quarter Report 2019
5. Consolidated Cash Flow Statement
Unit: RMB
Item Q1 2019 Q1 2018
1. Cash flows from operating activities:
Proceeds from sale of commodities and rendering of services 28,976,834,648.00 23,118,428,990.00
Net increase in customer deposits and interbank deposits 0.00 0.00
Net increase in borrowings from the central bank 0.00 0.00
Net increase in loans from other financial institutions 0.00 0.00
Premiums received on original insurance contracts 0.00 0.00
Net proceeds from reinsurance 0.00 0.00
Net increase in deposits and investments of policy holders 0.00 0.00
Net increase in proceeds from disposal of financial assets at fair value
0.00 0.00
through profit or loss
Interest, handling charges and commissions received 0.00 0.00
Net increase in interbank loans obtained 0.00 0.00
Net increase in proceeds from repurchase transactions 0.00 0.00
Net proceeds from acting trading of securities 0.00 0.00
Tax rebates 2,355,511,638.00 1,805,270,382.00
Cash generated from other operating activities 2,570,053,908.00 2,205,347,118.00
Subtotal of cash generated from operating activities 33,902,400,194.00 27,129,046,490.00
Payments for commodities and services 20,594,035,550.00 13,690,161,934.00
Net increase in loans and advances to customers 0.00 0.00
Net increase in deposits in the central bank and in interbank loans
0.00 0.00
granted
Payments for claims on original insurance contracts 0.00 0.00
Net increase in financial assets held for trading purposes 0.00 0.00
Net increase in interbank loans granted 0.00 0.00
Interest, handling charges and commissions paid 0.00 0.00
Policy dividends paid 0.00 0.00
Cash paid to and for employees 3,330,366,285.00 2,994,748,596.00
Taxes paid 1,145,908,172.00 753,214,990.00
Cash used in other operating activities 2,667,848,802.00 2,492,832,154.00
Subtotal of cash used in operating activities 27,738,158,809.00 19,930,957,674.00
Net cash generated from/used in operating activities 6,164,241,385.00 7,198,088,816.00
2. Cash flows from investing activities:
24
BOE Technology Group Co., Ltd. First Quarter Report 2019
Proceeds from disinvestment 9,102,274,502.00 16,230,696,269.00
Return on investment 103,065,934.00 130,869,955.00
Net proceeds from the disposal of fixed assets, intangible assets and
23,832,600.00 5,615,725.00
other long-lived assets
Net proceeds from the disposal of subsidiaries and other business units 0.00 0.00
Cash generated from other investing activities 404,836,348.00 2,311,084,521.00
Subtotal of cash generated from investing activities 9,634,009,384.00 18,678,266,470.00
Payments for the acquisition of fixed assets, intangible assets and
13,135,877,971.00 11,114,423,433.00
other long-lived assets
Payments for investments 7,598,763,556.00 19,209,443,548.00
Net increase in pledged loans granted 0.00 0.00
Net payments for the acquisition of subsidiaries and other business
0.00 0.00
units
Cash used in other investing activities 1,583,359,747.00 1,421,766,786.00
Subtotal of cash used in investing activities 22,318,001,274.00 31,745,633,767.00
Net cash generated from/used in investing activities -12,683,991,890.00 -13,067,367,297.00
3. Cash flows from financing activities:
Capital contributions received 1,549,510,000.00 10,800,000.00
Including: Capital contributions by non-controlling interests to
1,549,510,000.00 10,800,000.00
subsidiaries
Borrowings obtained 20,199,473,125.00 11,080,692,010.00
Net proceeds from the issuance of bonds 0.00 0.00
Cash generated from other financing activities 292,244,720.00 871,517,387.00
Subtotal of cash generated from financing activities 22,041,227,845.00 11,963,009,397.00
Repayments of borrowings 14,696,160,916.00 4,142,696,634.00
Payments for interest and dividends 1,916,272,904.00 1,613,157,999.00
Including: Dividends paid by subsidiaries to non-controlling
0.00 0.00
interests
Cash used in other financing activities 761,344,064.00 466,162,322.00
Subtotal of cash used in financing activities 17,373,777,884.00 6,222,016,955.00
Net cash generated from/used in financing activities 4,667,449,961.00 5,740,992,442.00
4. Effect of foreign exchange rate changes on cash and cash equivalents -265,879,224.00 -597,677,611.00
5. Net increase in cash and cash equivalents -2,118,179,768.00 -725,963,650.00
Add: Cash and cash equivalents, beginning of the period 43,350,696,520.00 47,913,287,583.00
6. Cash and cash equivalents, end of the period 41,232,516,752.00 47,187,323,933.00
25
BOE Technology Group Co., Ltd. First Quarter Report 2019
6. Cash Flow Statement of the Company as the Parent
Unit: RMB
Item Q1 2019 Q1 2018
1. Cash flows from operating activities:
Proceeds from sale of commodities and rendering of services 2,196,646,203.00 1,294,746,503.00
Tax rebates 0.00 0.00
Cash generated from other operating activities 83,421,848.00 657,722,589.00
Subtotal of cash generated from operating activities 2,280,068,051.00 1,952,469,092.00
Payments for commodities and services 121,424,803.00 127,644,428.00
Cash paid to and for employees 365,563,871.00 302,566,071.00
Taxes paid 310,536,542.00 161,742,076.00
Cash used in other operating activities 1,718,497,541.00 187,172,675.00
Subtotal of cash used in operating activities 2,516,022,757.00 779,125,250.00
Net cash generated from/used in operating activities -235,954,706.00 1,173,343,842.00
2. Cash flows from investing activities:
Proceeds from disinvestment 306,360,000.00 142,759,980.00
Return on investment 537,081,499.00 0.00
Net proceeds from the disposal of fixed assets, intangible assets and
140.00 310.00
other long-lived assets
Net proceeds from the disposal of subsidiaries and other business units 0.00 0.00
Cash generated from other investing activities 61,722,270.00 506,485,679.00
Subtotal of cash generated from investing activities 905,163,909.00 649,245,969.00
Payments for the acquisition of fixed assets, intangible assets and
746,350,526.00 79,067,306.00
other long-lived assets
Payments for investments 1,281,730,200.00 5,928,800,200.00
Net payments for the acquisition of subsidiaries and other business
0.00 0.00
units
Cash used in other investing activities 1,800,155,397.00 0.00
Subtotal of cash used in investing activities 3,828,236,123.00 6,007,867,506.00
Net cash generated from/used in investing activities -2,923,072,214.00 -5,358,621,537.00
3. Cash flows from financing activities:
Capital contributions received 0.00 0.00
Borrowings obtained 11,864,230,556.00 7,367,000,000.00
Net proceeds from the issuance of bonds 0.00 0.00
Cash generated from other financing activities 759,851,347.00 0.00
26
BOE Technology Group Co., Ltd. First Quarter Report 2019
Subtotal of cash generated from financing activities 12,624,081,903.00 7,367,000,000.00
Repayments of borrowings 10,160,597,600.00 1,340,000,000.00
Payments for interest and dividends 441,999,300.00 418,524,483.00
Cash used in other financing activities 499,280.00 0.00
Subtotal of cash used in financing activities 10,603,096,180.00 1,758,524,483.00
Net cash generated from/used in financing activities 2,020,985,723.00 5,608,475,517.00
4. Effect of foreign exchange rate changes on cash and cash equivalents -23,798,379.00 17,463.00
5. Net increase in cash and cash equivalents -1,161,839,576.00 1,423,215,285.00
Add: Cash and cash equivalents, beginning of the period 3,829,814,050.00 2,990,801,501.00
6. Cash and cash equivalents, end of the period 2,667,974,474.00 4,414,016,786.00
II Adjustments to the Financial Statements
1. Adjustments to the Financial Statements at the Beginning of the First Execution Year of any New
Standards Governing Financial Instruments, Revenue or Leases
√ Applicable □ Not applicable
Consolidated Balance Sheet
Unit: RMB
Item 31 December 2018 1 January 2019 Adjusted
Current assets:
Monetary capital 51,481,539,711.00 51,481,539,711.00 0.00
Settlement reserve 0.00 0.00 0.00
Interbank loans granted 0.00 0.00 0.00
Trading financial assets N/A 5,534,413,566.00 5,534,413,566.00
Financial assets at fair value through profit or loss 0.00 N/A 0.00
Derivative financial assets 0.00 0.00 0.00
Notes and accounts receivable 20,537,462,095.00 20,537,462,095.00 0.00
Including: Notes receivable 656,781,577.00 656,781,577.00 0.00
Accounts receivable 19,880,680,518.00 19,880,680,518.00 0.00
Prepayments 770,633,448.00 770,633,448.00 0.00
Premiums receivable 0.00 0.00 0.00
Reinsurance receivables 0.00 0.00 0.00
Receivable reinsurance contract reserve 0.00 0.00 0.00
Other receivables 2,454,174,971.00 2,454,174,971.00 0.00
Including: Interest receivable 140,597,317.00 140,597,317.00 0.00
27
BOE Technology Group Co., Ltd. First Quarter Report 2019
Dividends receivable 3,711,768.00 3,711,768.00 0.00
Financial assets purchased under resale agreements 0.00 0.00 0.00
Inventories 11,985,398,172.00 11,985,398,172.00 0.00
Contractual assets N/A 0.00 0.00
Assets classified as held for sale 0.00 0.00 0.00
Current portion of non-current assets 0.00 0.00 0.00
Other current assets 12,463,073,779.00 6,928,660,213.00 -5,534,413,566.00
Total current assets 99,692,282,176.00 99,692,282,176.00 0.00
Non-current assets:
Loans and advances to customers 0.00 0.00 0.00
Investments in debt obligations N/A 0.00 0.00
Available-for-sale financial assets 734,022,359.00 N/A -734,022,359.00
Investments in other debt obligations N/A 12,866,432.00 12,866,432.00
Held-to-maturity investments 0.00 N/A 0.00
Long-term receivables 0.00 0.00 0.00
Long-term equity investments 2,389,166,886.00 2,389,166,886.00 0.00
Investments in other equity instruments N/A 721,155,927.00 721,155,927.00
Other non-current financial assets N/A 0.00 0.00
Investment property 1,283,867,651.00 1,283,867,651.00 0.00
Fixed assets 128,157,730,995.00 128,157,730,995.00 0.00
Construction in progress 56,423,354,887.00 56,423,354,887.00 0.00
Productive living assets 0.00 0.00 0.00
Oil and gas assets 0.00 0.00 0.00
Right-of-use assets N/A 0.00 0.00
Intangible assets 5,937,679,394.00 5,937,679,394.00 0.00
R&D expense 0.00 0.00 0.00
Goodwill 904,370,509.00 904,370,509.00 0.00
Long-term prepaid expense 360,640,853.00 360,640,853.00 0.00
Deferred income tax assets 252,373,622.00 252,373,622.00 0.00
Other non-current assets 7,893,002,053.00 7,893,002,053.00 0.00
Total non-current assets 204,336,209,209.00 204,336,209,209.00 0.00
Total assets 304,028,491,385.00 304,028,491,385.00 0.00
Current liabilities:
Short-term borrowings 5,449,954,885.00 5,449,954,885.00 0.00
28
BOE Technology Group Co., Ltd. First Quarter Report 2019
Borrowings from central bank 0.00 0.00 0.00
Interbank loans obtained 0.00 0.00 0.00
Trading financial liabilities N/A 0.00 0.00
Financial liabilities at fair value through profit or loss 0.00 N/A 0.00
Derivative financial liabilities 0.00 0.00 0.00
Notes and accounts payable 22,805,065,888.00 22,805,065,888.00 0.00
Advances from customers 1,218,934,743.00 1,218,934,743.00 0.00
Financial assets sold under repurchase agreements 0.00 0.00 0.00
Customer deposits and interbank deposits 0.00 0.00 0.00
Payables for acting trading of securities 0.00 0.00 0.00
Payables for underwriting of securities 0.00 0.00 0.00
Payroll payable 2,224,931,171.00 2,224,931,171.00 0.00
Taxes payable 970,108,298.00 970,108,298.00 0.00
Other payables 22,956,979,828.00 22,956,979,828.00 0.00
Including: Interest payable 1,016,761,921.00 1,016,761,921.00 0.00
Dividends payable 23,648,778.00 23,648,778.00 0.00
Handling charges and commissions payable 0.00 0.00 0.00
Reinsurance payables 0.00 0.00 0.00
Contractual liabilities N/A 0.00 0.00
Liabilities directly associated with assets classified as held
0.00 0.00 0.00
for sale
Current portion of non-current liabilities 5,597,563,204.00 5,597,563,204.00 0.00
Other current liabilities 1,004,557,061.00 1,004,557,061.00 0.00
Total current liabilities 62,228,095,078.00 62,228,095,078.00 0.00
Non-current liabilities:
Insurance contract reserve 0.00 0.00 0.00
Long-term borrowings 94,780,077,864.00 94,780,077,864.00 0.00
Bonds payable 10,288,666,233.00 10,288,666,233.00 0.00
Including: Preferred shares 0.00 0.00 0.00
Perpetual bonds 0.00 0.00 0.00
Lease liabilities N/A 0.00 0.00
Long-term payables 1,416,092,239.00 1,416,092,239.00 0.00
Long-term payroll payable 0.00 0.00 0.00
Provisions 16,457,010.00 16,457,010.00 0.00
Deferred income 2,187,558,533.00 2,187,558,533.00 0.00
29
BOE Technology Group Co., Ltd. First Quarter Report 2019
Deferred income tax liabilities 1,419,373,545.00 1,419,373,545.00 0.00
Other non-current liabilities 11,334,873,322.00 11,334,873,322.00 0.00
Total non-current liabilities 121,443,098,746.00 121,443,098,746.00 0.00
Total liabilities 183,671,193,824.00 183,671,193,824.00 0.00
Owners’ equity:
Share capital 34,798,398,763.00 34,798,398,763.00 0.00
Other equity instruments 0.00 0.00 0.00
Including: Preferred shares 0.00 0.00 0.00
Perpetual bonds 0.00 0.00 0.00
Capital reserves 38,213,100,596.00 38,213,100,596.00 0.00
Less: Treasury stock 0.00 0.00 0.00
Other comprehensive income -125,258,252.00 -331,449,633.00 -206,191,381.00
Special reserves 0.00 0.00 0.00
Surplus reserves 1,152,626,310.00 1,152,626,310.00 0.00
General reserve 0.00 0.00 0.00
Retained earnings 11,817,881,286.00 12,024,072,667.00 206,191,381.00
Total equity attributable to owners of the Company as the
85,856,748,703.00 85,856,748,703.00 0.00
parent
Non-controlling interests 34,500,548,858.00 34,500,548,858.00 0.00
Total owners’ equity 120,357,297,561.00 120,357,297,561.00 0.00
Total liabilities and owners’ equity 304,028,491,385.00 304,028,491,385.00 0.00
Note for adjustment:
The Group began to implement the Accounting Standards for Business Enterprises No. 22 - Recognition and Measurement of
Financial Instruments, the Accounting Standards for Business Enterprises No. 23 – Transfer of Financial Assets, the Accounting
Standards for Business Enterprises No. 24 – Hedging Accounting, and the Accounting Standards for Business Enterprises No. 37 –
Presentation of Financial Instruments revised in 2017 from 1 January 2019. The Company adjusted related items of the Financial
Statements at the Beginning of the First Execution Year according to the requirements of the standards.
Balance Sheet of the Company as the Parent
Unit: RMB
Item 31 December 2018 1 January 2019 Adjusted
Current assets:
Monetary capital 3,829,814,050.00 3,829,814,050.00 0.00
Trading financial assets N/A 0.00 0.00
Financial assets at fair value through profit or loss 0.00 N/A 0.00
Derivative financial assets 0.00 0.00 0.00
30
BOE Technology Group Co., Ltd. First Quarter Report 2019
Notes and accounts receivable 38,452,623.00 38,452,623.00 0.00
Including: Notes receivable 1,500,000.00 1,500,000.00 0.00
Accounts receivable 36,952,623.00 36,952,623.00 0.00
Prepayments 25,020,734.00 25,020,734.00 0.00
Other receivables 2,015,828,460.00 2,015,828,460.00 0.00
Including: Interest receivable 9,659,279.00 9,659,279.00 0.00
Dividends receivable 14,115,915.00 14,115,915.00 0.00
Inventories 9,289,141.00 9,289,141.00 0.00
Contractual assets N/A 0.00 0.00
Assets classified as held for sale 0.00 0.00 0.00
Current portion of non-current assets 450,000,000.00 450,000,000.00 0.00
Other current assets 47,805,096.00 47,805,096.00 0.00
Total current assets 6,416,210,104.00 6,416,210,104.00 0.00
Non-current assets:
Investments in debt obligations N/A 0.00 0.00
Available-for-sale financial assets 128,297,254.00 N/A -128,297,254.00
Investments in other debt obligations N/A 0.00 0.00
Held-to-maturity investments 0.00 N/A 0.00
Long-term receivables 0.00 0.00 0.00
Long-term equity investments 143,499,733,485.00 143,499,733,485.00 0.00
Investments in other equity instruments N/A 128,297,254.00 128,297,254.00
Other non-current financial assets N/A 0.00 0.00
Investment property 290,253,475.00 290,253,475.00 0.00
Fixed assets 969,371,352.00 969,371,352.00 0.00
Construction in progress 251,314,313.00 251,314,313.00 0.00
Productive living assets 0.00 0.00 0.00
Oil and gas assets 0.00 0.00 0.00
Right-of-use assets N/A 0.00 0.00
Intangible assets 514,186,496.00 514,186,496.00 0.00
R&D expense 0.00 0.00 0.00
Goodwill 0.00 0.00 0.00
Long-term prepaid expense 99,701,797.00 99,701,797.00 0.00
Deferred income tax assets 290,794,548.00 290,794,548.00 0.00
Other non-current assets 284,243,667.00 284,243,667.00 0.00
31
BOE Technology Group Co., Ltd. First Quarter Report 2019
Total non-current assets 146,327,896,387.00 146,327,896,387.00 0.00
Total assets 152,744,106,491.00 152,744,106,491.00 0.00
Current liabilities:
Short-term borrowings 1,000,000,000.00 1,000,000,000.00 0.00
Trading financial liabilities N/A 0.00 0.00
Financial liabilities at fair value through profit or loss 0.00 N/A 0.00
Derivative financial liabilities 0.00 0.00 0.00
Notes and accounts payable 35,322,286.00 35,322,286.00 0.00
Advances from customers 1,577,035,515.00 1,577,035,515.00 0.00
Contractual liabilities N/A 0.00 0.00
Payroll payable 201,139,261.00 201,139,261.00 0.00
Taxes payable 250,558,556.00 250,558,556.00 0.00
Other payables 8,209,736,090.00 8,209,736,090.00 0.00
Including: Interest payable 330,964,989.00 330,964,989.00 0.00
Dividends payable 6,451,171.00 6,451,171.00 0.00
Liabilities directly associated with assets classified as
0.00 0.00 0.00
held for sale
Current portion of non-current liabilities 2,590,000,000.00 2,590,000,000.00 0.00
Other current liabilities 0.00 0.00 0.00
Total current liabilities 13,863,791,708.00 13,863,791,708.00 0.00
Non-current liabilities:
Long-term borrowings 26,520,000,000.00 26,520,000,000.00 0.00
Bonds payable 9,976,533,425.00 9,976,533,425.00 0.00
Including: Preferred shares 0.00 0.00 0.00
Perpetual bonds 0.00 0.00 0.00
Lease liabilities N/A 0.00 0.00
Long-term payables 0.00 0.00 0.00
Long-term payroll payable 0.00 0.00 0.00
Provisions 0.00 0.00 0.00
Deferred income 5,523,949,841.00 5,523,949,841.00 0.00
Deferred income tax liabilities 0.00 0.00 0.00
Other non-current liabilities 20,954,104,125.00 20,954,104,125.00 0.00
Total non-current liabilities 62,974,587,391.00 62,974,587,391.00 0.00
Total liabilities 76,838,379,099.00 76,838,379,099.00 0.00
Owners’ equity:
32
BOE Technology Group Co., Ltd. First Quarter Report 2019
Share capital 34,798,398,763.00 34,798,398,763.00 0.00
Other equity instruments 0.00 0.00 0.00
Including: Preferred shares 0.00 0.00 0.00
Perpetual bonds 0.00 0.00 0.00
Capital reserves 37,590,966,191.00 37,590,966,191.00 0.00
Less: Treasury stock 0.00 0.00 0.00
Other comprehensive income -28,507,585.00 -284,608,843.00 -256,101,258.00
Special reserves 0.00 0.00 0.00
Surplus reserves 1,152,626,310.00 1,152,626,310.00 0.00
Retained earnings 2,392,243,713.00 2,648,344,971.00 256,101,258.00
Total owners’ equity 75,905,727,392.00 75,905,727,392.00 0.00
Total liabilities and owners’ equity 152,744,106,491.00 2,648,344,971.00 0.00
Note for adjustment:
The Company began to implement the Accounting Standards for Business Enterprises No. 22 - Recognition and Measurement of
Financial Instruments, the Accounting Standards for Business Enterprises No. 23 – Transfer of Financial Assets, the Accounting
Standards for Business Enterprises No. 24 – Hedging Accounting, and the Accounting Standards for Business Enterprises No. 37 –
Presentation of Financial Instruments revised in 2017 from 1 January 2019. The Company adjusted related items of the Financial
Statements at the Beginning of the First Execution Year according to the requirements of the standards.
2. Retrospective Restatement of Previous Comparative Data due to the First Execution of any New
Standards Governing Financial Instruments or Leases
□ Applicable √ Not applicable
III Independent Auditor’s Report
Indicate by tick mark whether the financial statements above have been audited by an independent auditor.
□Yes √ No
These financial statements have not been audited by such an auditor.
Chairman of the Board (signature)：Wang Dongsheng
Date of the Board’s approval of this Report: 29 April 2019
33