THIRD QUARTERLY REPORT 2020
October 2020
BOE Technology Group Co., Ltd. Third Quarterly Report 2020
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. Chen Yanshun, the Company’s legal representative, Mr. Liu Xiaodong, president of the
Company’s Execution Committee(Chief Executive Officer), 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.
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BOE Technology Group Co., Ltd. Third Quarterly Report 2020
Part II Key Corporate Information
I Key Consolidated Financial Information
Indicate by tick mark whether there is any retrospectively restated datum in the table below.
□ Yes √ No
Item 30 September 2020 31 December 2019 Change (%)
Total assets (RMB) 363,168,000,656.00 340,412,203,308.00 6.68%
Equity attributable to the listed
101,109,228,915.00 95,058,129,055.00 6.37%
company’s shareholders (RMB)
Item Q3 2020 YoY change (%) Q1-Q3 2020 YoY change (%)
Operating revenue (RMB) 40,820,898,656.00 33.04% 101,687,972,162.00 18.63%
Net profit attributable to the listed
1,340,387,777.00 629.30% 2,475,838,102.00 33.67%
company’s shareholders (RMB)
Net profit attributable to the listed
company’s shareholders before 1,064,128,213.00 - 887,799,628.00 -
exceptional items (RMB)
Net cash generated from/used in
13,751,838,874.00 178.83% 23,468,514,408.00 42.00%
operating activities (RMB)
Basic earnings per share (RMB/share) 0.035 600.00% 0.061 15.09%
Diluted earnings per share (RMB/share) 0.035 600.00% 0.061 15.09%
Weighted average return on equity (%) 1.37% 1.16% 2.42% 0.28%
Exceptional gains and losses:
√ Applicable □ Not applicable
Unit: RMB
Item Q1-Q3 2020 Note
Gain or loss on disposal of non-current assets (inclusive of impairment
-3,937,719.00 N/A
allowance write-offs)
Tax rebates, reductions and exemptions with ultra vires approval or in lack of
0.00 N/A
duly approved document
Government subsidies charged to current profit and loss (exclusive of
government subsidies given in the Company’s ordinary course of business at 1,855,998,083.00 N/A
fixed quotas or amounts as per government’s uniform standards )
Capital occupation charges on non-financial enterprises that are charged to
0.00 N/A
current gains and losses
Income equal to the amount by which investment costs for the Company to 0.00 N/A
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BOE Technology Group Co., Ltd. Third Quarterly Report 2020
obtain subsidiaries, associates and joint ventures are lower than the Company’s
enjoyable fair value of identifiable net assets of investees when making
investments
Gains and losses on non-monetary asset swap 0.00 N/A
Gains and losses on investment or asset management entrustments to other
0.00 N/A
entities
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
0.00 N/A
distinctly unfair prices
Current gains and losses on subsidiaries acquired through business mergers
0.00 N/A
under same control from period-beginning to merger dates, net
Gains and losses on contingencies that do not arise in the Company’s ordinary
0.00 N/A
course of business
Gain or loss on fair-value changes in held-for-trading financial assets and
liabilities and derivative financial assets and liabilities & investment income
from disposal of held-for-trading financial assets and liabilities and derivative 41,769,702.00 N/A
financial assets and liabilities, and other debt investments (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
7,805,828.00 N/A
assets which 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
0.00 N/A
subsequent measurement is carried out using fair value method
Effects of all adjustments required by taxation, accounting and other applicable
0.00 N/A
laws and regulations on current gains and losses
Income from charges on entrusted management 0.00 N/A
Non-operating income and expense other than above 55,534,652.00 N/A
Other gains and losses that meet definition of nonrecurring gain/loss 0.00 N/A
Less: Income tax effects 123,536,748.00 N/A
Non-controlling interests effects (net of tax) 245,595,324.00 N/A
Total 1,588,038,474.00 --
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 in the Reporting Period.
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BOE Technology Group Co., Ltd. Third Quarterly Report 2020
II Total Number of Shareholders and Holdings of Top 10 of Them as at the End of the
Reporting Period
1. Numbers of Ordinary Shareholders and Preference Shareholders with Resumed Voting Rights as well as
Holdings of Top 10 Shareholders
Unit: share
Number of ordinary shareholders 1,207,757 (including 1,168,162 A-shareholders and 39,595 B-shareholders)
Top 10 shareholders
Shares in pledge or
Nature of Shareholding Restricted
Name of shareholder Total shares held frozen
shareholder percentage shares
Status Shares
Beijing State-owned Capital Operation State-owned
11.68% 4,063,333,333 0 N/A 0
and Management Center corporation
Hong Kong Securities Clearing Foreign
5.21% 1,812,788,406 0 N/A 0
Company Ltd. corporation
State-owned
Hefei Jianxiang Investment Co., Ltd. 3.10% 1,078,869,310 0 N/A 0
corporation
Chongqing Ezcapital Opto-electronic State-owned
2.92% 1,014,888,138 0 N/A 0
Industry Investment Co., Ltd. corporation
Beijing BOE Investment & State-owned
2.36% 822,092,180 0 N/A 0
Development Co., Ltd. corporation
State-owned
Hefei Jianxin Investment Co., Ltd. 2.30% 800,000,000 0 N/A 0
corporation
Beijing Yizhuang Investment Holdings State-owned
1.46% 507,008,046 0 N/A 0
Co., Ltd corporation
Generali China－China Merchants
Bank－Generali Assets－Qihang No. 1 Other 0.94% 325,728,500 0 N/A 0
Asset Management Products
Generali China－China Merchants
Bank－Generali Assets－Chengping Other 0.88% 305,643,700 0 N/A 0
No. 1 Asset Management Products
China Merchants Bank Co., Ltd.－
Galaxy Innovation Growth Hybrid Other 0.87% 303,999,829 0 N/A 0
Securities Investment Fund
Top 10 unrestricted shareholders
Unrestricted ordinary Shares by class
Name of shareholder
shares held Class Shares
Beijing State-owned Capital Operation and 4,063,333,333 RMB-denominated ordinary share 4,063,333,333
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BOE Technology Group Co., Ltd. Third Quarterly Report 2020
Management Center
Hong Kong Securities Clearing Company Ltd. 1,812,788,406 RMB-denominated ordinary share 1,812,788,406
Hefei Jianxiang Investment Co., Ltd. 1,078,869,310 RMB-denominated ordinary share 1,078,869,310
Chongqing Ezcapital Opto-electronic Industry
1,014,888,138 RMB-denominated ordinary share 1,014,888,138
Investment Co., Ltd.
Beijing BOE Investment & Development Co., Ltd. 822,092,180 RMB-denominated ordinary share 822,092,180
Hefei Jianxin Investment Co., Ltd. 800,000,000 RMB-denominated ordinary share 800,000,000
Beijing Yizhuang Investment Holdings Co., Ltd 507,008,046 RMB-denominated ordinary share 507,008,046
Generali China－China Merchants Bank－Generali
325,728,500 RMB-denominated ordinary share 325,728,500
Assets－Qihang No. 1 Asset Management Products
Generali China－China Merchants Bank－Generali
Assets－Chengping No. 1 Asset Management 305,643,700 RMB-denominated ordinary share 305,643,700
Products
China Merchants Bank Co., Ltd.－Galaxy Innovation
303,999,829 RMB-denominated ordinary share 303,999,829
Growth Hybrid Securities Investment Fund
1. After the non-public issuing of BOE in 2014, Hefei Jianxiang Investment
Co., Ltd. and Chongqing Ezcapital Opto-electronic Industry Investment Co.,
Ltd., by entering into Implementation Protocol of Voting Right respectively,
Related or acting-in-concert parties among agreed to maintain all of the shares held by them respectively unanimous with
shareholders above Beijing BOE Investment & Development Co., Ltd. when executing the voting
rights of the shareholders.
2. Except for the above relationships, the Company does not know any other
connected party or acting-in-concert party among the top 10 shareholders.
The Company’s shareholder Beijing Yizhuang Investment Holdings Co., Ltd.
Top 10 ordinary shareholders involved in securities
decreased its shareholding in the Company of 46,944,800 shares for involved
margin trading (if any)
in refinancing business.
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.
□ Yes √ No
No such cases in the Reporting Period.
2. Number of Preference Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
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BOE Technology Group Co., Ltd. Third Quarterly Report 2020
Part III Significant Events
I Changes in Key Financial Statement Line Items and Explanation of why
√ Applicable □ Not applicable
1. Accounts receivable as at 30 September 2020 rose 42% compared to 31 December 2019, primarily driven by an increase in
amounts due from customers with expanding operating revenue in the Reporting Period.
2. Inventories as at 30 September 2020 rose 31% compared to 31 December 2019, primarily driven by expanding operating revenue
and the mass production in respect of new project in the Reporting Period.
3. Fixed assets as at 30 September 2020 rose 33% compared to 31 December 2019, primarily driven by the transfer of new
construction to fixed assets in the Reporting Period.
4. Construction in progress as at 30 September 2020 declined 38% compared to 31 December 2019, primarily driven by the transfer
of new construction to fixed assets in the Reporting Period.
5. The current portion of non-current liabilities as at 30 September 2020 rose 32% compared to 31 December 2019, primarily driven
by the transfer of long-term borrowings to this item in the Reporting Period.
6. Administrative expense rose 30% during Q1-Q3 2020 compared to Q1-Q3 2019, primarily driven by expanding operating revenue
in the Reporting Period.
7. Finance costs rose 40% during Q1-Q3 2020 compared to Q1-Q3 2019, primarily driven by Q1-Q3 2019 seeing the repayment of
convertible debt by the Company.
8. Return on investment rose 100% during Q1-Q3 2020 compared to Q1-Q3 2019, primarily driven by an increase in the Company’s
share of profit of associates in the Reporting Period.
9. Asset impairment loss rose 51% during Q1-Q3 2020 compared to Q1-Q3 2019, primarily driven by an increase in inventory
valuation allowances, which were made at the lower of cost and net realizable value.
10. Net cash generated from operating activities rose 42% during Q1-Q3 2020 compared to Q1-Q3 2019, primarily driven by an
increase in operating profit as a result of a bigger business size and an increase in tax and levy rebates.
II Progress, Influence and Solutions in respect of Significant Events
√ Applicable □ Not applicable
1. On 18 October 2019, the Company disclosed the Announcement on the Company’s Application for CSRC’s Approval for its
Public Issue of Renewable Corporate Bonds (Announcement No. 2019-052), and the Company received the No. [2019] 1801
Approval from CSRC. Based on the approval, the Company could publicly issue the renewable corporate bonds with the nominal
value no more than RMB30 billion to qualified investors. The Company publicly issued renewable corporate bonds (to qualified
investors) (the first issue) (“19BOEY1” for short; Code: 112741) in 2019 with the issue term from 28 October 2019 to 29 October
2019, the issuing scale of RMB8 billion and the bonds’ ultimate nominal interest rate of 4.0%. The Company publicly issued
renewable corporate bonds (to qualified investors) (the first issue) (epidemic prevention and control bonds) (“20BOEY1” for short;
Code: 149046) in 2020 with the issue term from 27 February 2020 to 28 February 2020, the issuing scale of RMB2 billion and the
bonds’ ultimate nominal interest of 3.64%. The Company publicly issued the renewable corporate bonds (to qualified investors) (the
second issue) (epidemic prevention and control bonds) (“20BOEY2” for short; Code: 149065) in 2020 with the issue term from 18
March 2020 to 19 March 2020, the issuing scale of RMB2 billion and the bonds’ ultimate nominal interest of 3.54%. The Company
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BOE Technology Group Co., Ltd. Third Quarterly Report 2020
publicly issued the renewable corporate bonds (to qualified investors) (the third issue) (epidemic prevention and control bonds)
(“20BOEY3” for short; Code: 149108) in 2020 with the issue term from 24 April 2020 to 27 April 2020, the issuing scale of RMB2
billion and the bonds’ ultimate nominal interest of 3.50%. 29 October 2020 represented the one-year mark for the renewable
corporate bonds (to qualified investors) (the first issue) publicly issued by the Company in 2019 with the issue term from 28 October
2019 to 29 October 2019. According to the relevant rules, interest is payable annually during the interest period. On 22 October 2020,
the Company disclosed the Announcement No. 2020-065 on the Payment of Interest for “19BOEY1” for 2020 with RMB40.00 (tax
inclusive)/10 bonds.
2. The Company’s wholly-owned subsidiary BOE Technology (HK) Limited filed a lawsuit on the sales contract dispute to the superior
people’s court in Beijing, and the defendants included LETV Mobile Intelligent Information Technology (Beijing) Co., Ltd.
(hereinafter referred to as “LETV Mobile”), LETV Holdings (Beijing) Co., Ltd., Le Sai Mobile Technology (Beijing) Co., Ltd. and Jia
Yueting with the claimed amount of USD41.84 million in total. However, Beijing Municipal Superior People’s Court respectively
issued the Notice of Acceptance and the Civil Ruling Paper on Property Preservation on July 6, 2017 and July 31, 2017. LETV Mobile
ever put forward the jurisdiction objection to Beijing Municipal Superior People’s Court, which was rejected, and then launched a
lawsuit on the judgment of the jurisdiction objection to the Supreme People’s Court. Finally, the Supreme People’s Court made the
final ruling, rejected the appeal of LETV Mobile and affirmed the original judgment. On 8 March 2019, the first hearing was held in
Beijing Municipal Superior People’s Court. On 19 February 2020, Beijing Municipal Superior People’s Court issued the first instance
judgment:
(1) The defendant (LETV Mobile Intelligent Information Technology (Beijing) Co., Ltd.) shall pay the plaintiff (BOE Technology (HK)
Limited) the owed principal USD36,940,476.77 and the resulting interests (regarding the principal USD12,871,274.5 as the interest
basis from 8 September 2016 to 1 March 2017, USD12,144,001.77 from 2 March 2017 to the actual payment day, USD16,172,935
from October 13, 2016 to the actual payment day, USD8,488,690 from November 10, 2016 to the actual payment day, and US134,850
from 8 December 2016 to the actual payment day; the annual interest rate shall be 6% (365 days)), as well as the liquidated damages
(regarding the principal USD2,052,248.71 as the basis from 30 April 2017 to 1 July 2017, USD2,052,248.71 from 31 May 2017 to 1
July 2017, USD2,052,248.71 from 30 June 2017 to 1 July 2017, and USD36,940,476.77 from 2 July 2017 to the actual payment day;
the penalty standard was 0.03% per day); under the Installment Payment Agreement within 10 days after the judgment took effect;
(2) The defendant LETV Holdings (Beijing) Co., Ltd. shall burden the joint and several guarantee for the debt owed by LETV Mobile
Intelligent Information Technology (Beijing) Co., Ltd. Defined in the judgment (Item I);
(3) After the Defendant LETV Holdings (Beijing) Co., Ltd. burdens the joint and several guarantee related to Item II, LETV Holdings
(Beijing) Co., Ltd. shall have the right to claim compensation from LETV Mobile Intelligent Information Technology (Beijing) Co.,
Ltd.;
(4) The defendant(LETV Mobile Intelligent Information Technology (Beijing) Co., Ltd.) shall pay the plaintiff (BOE Technology (HK)
Limited) the owed principal USD2,459,090.91 and the resulting interests (regarding the principal USD2,459,090.91 as the interest
basis from 27 May 2017 to 19 August 2019 with the PBC’s benchmark interest rate for loan during the same period as the standard;
USD2,459,090.91 from August 20, 2019 to the actual payment day with the quoted interest rate of the loan market issued by the
national inter-bank offer center as the standard; the year shall have 365 days) under the Purchase Order with the goods payment
USD2.75 million;
(5) Other claims of the plaintiff (BOE Technology (HK) Limited) shall be rejected.
If the defendant LETV Mobile Intelligent Information Technology (Beijing) Co., Ltd. and LETV Holdings (Beijing) Co., Ltd. fails to
fulfill their payment obligation as scheduled in the judgment, the Defendant shall pay the double debt interests during the delayed
period according to Article 253 of Civil Procedure Law of the People’s Republic of China.
The litigation fee was RMB1,465,371.63, of which, RMB5,371.63 shall be paid by the plaintiff BOE Technology (HK) Limited
(already paid), and RMB1.46 million shall be jointly burdened by LETV Mobile Intelligent Information Technology (Beijing) Co., Ltd.
and LETV Holdings (Beijing) Co., Ltd. (payment within 7 days after the judgment took effect); the preservation fee was RMB5000,
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BOE Technology Group Co., Ltd. Third Quarterly Report 2020
which shall be jointly burdened by LETV Mobile Intelligent Information Technology (Beijing) Co., Ltd. and LETV Holdings (Beijing)
Co., Ltd. (payment within 7 days after the judgment took effect).
On 17 March 2020, BOE Technology (HK) Limited received the petition for appeal submitted by LETV Holdings (Beijing) Co., Ltd. to
the court. LETV Holdings (Beijing) Co., Ltd. failed to pay the fee for the appeal it had instituted. On 8 July 2020, the Supreme
People’s Court ruled that the appellant LETV Holdings (Beijing) Co., Ltd. was deemed to have withdrawn its appeal and that the
first-instance judgment take into effect upon its arrival to the appellant. BOE Technology (HK) Limited has filed an Application for
Enforcement to Beijing Higher People’s Court, and the court has accepted the application for further handling. The Company has
calculated corresponding bad-debt provision for the account receivables equaling the above-mentioned claimed amount according to
the accounting standards, which has uncertain influence on the Company.
3. On 29 August 2020, the Company disclosed the Announcement No. 2020-047 on the Resolutions of the 15th Meeting of the 9th
Board of Directors, the Plan for the Grant of Share Options and Restricted Shares for 2020 and other relevant announcements. As
such, the Company intended to carry out an equity incentive plan, which would comprise a share option incentive and a restricted
share incentive. The shares needed would be sourced from RMB-denominated ordinary shares (A-shares) of the Company
repurchased from the secondary market. The total shares under the plan would not exceed 981,150,000 shares, which included
639,900,000 share options and 341,250,000 restricted shares, together representing around 2.82% of the Company’s total share
capital of 34,798,398,763 shares at the time when the draft of the equity incentive plan was disclosed in an announcement. The share
option and restricted share incentive plan of 2020 is still subject to approval of the State-Owned Assets Supervision and
Administration Commission of People’s Government of Beijing Municipality and of the Company’s general meeting.
Summary of the significant event Date of disclosure Index to disclosure
Announcement on the Acquisition of a 16.67% Interest in BEHC Industrial
24 July 2020 www.cninfo.com.cn
Investment from NAURA & the Related-Party Transaction
Announcement on the Intension to Acquire Interests in Nanjing CEC Panda FPD
24 September 2020 www.cninfo.com.cn
Technology Co., Ltd. and Chengdu CEC Panda Display Technology Co., Ltd.
Progress of any share repurchase:
√ Applicable □ Not applicable
Following the approval of the Proposal on the Repurchase of Certain Public Shares at the 15th Meeting of the 9th Board of Directors,
the Company disclosed the Announcement No. 2020-049 on the Plan for the Repurchase of Certain Public Shares dated 29 August
2020. The Company carried out the first repurchase on 2 September 2020 and disclosed the Announcement No. 2020-056 on the First
Repurchase of Certain Public Shares dated 3 September 2020. On 4 September 2020, the Company disclosed the Announcement No.
2020-057 on Progress of the Repurchase of Certain Public Shares and the Announcement No. 2020-058 on the Completion of the
Share Repurchase Plan & the Repurchase Results. As such, as of 3 September 2020, the Company repurchased, through its securities
account for repurchase and by way of centralized bidding, a total of 349,999,933 A-shares, accounting for approximately 1.03% of
the Company’s total A-shares and approximately 1.01% of the Company’s total shares. With the highest trading price being
RMB5.79/share and the lowest being RMB5.54/share, this repurchase cost a total of RMB1,998,774,693.72 (including commissions
and other fixed fees). As such, the number of shares repurchased reached the upper limit of the repurchase plan, marking the
completion of the implementation of the plan.
Progress of any reduction of the repurchased shares through centralized bidding:
□ Applicable √ Not applicable
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BOE Technology Group Co., Ltd. Third Quarterly Report 2020
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
Type of Date of commitment Term of
Commitment Promisor Details of commitment 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
Commitment made in IPO or
- - - - - -
refinancing
Commitment made in stock
- - - - - -
ownership incentive
According to the Announcement on the Commitment of Part of Directors, Supervisors and
During the term
Senior Managers Not to Reduce Shareholding of the Company disclosed on 22 February
as director,
Part of 2020 (Announcement No.: 2020-001), the Company’s directors, supervisors and senior
supervisor or
directors, managers, based on their confidence in the Company’s future development and their
senior manager,
supervisors recognition of the corporate value, promise not to reduce or transfer any shares held in BOE
Other commitments made to Other and in six
and senior (A shares), not to entrust others to manage specific shares, not to authorize others to execute 21 February 2020 Ongoing
minority shareholders commitment months after the
managers of their voting right by means of any agreement, trust or other arrangements and not to require
expiration of the
the the Company to repurchase any specific shares during the terms of office and within 6 months
term (the term
Company after their tenures expire so as to promote the Company’s continuous, stable and healthy
determined
development and maintain the rights and interests of the Company and all shareholders. For
when taking
any newly-added shares derived from the assignment of rights and interests including the
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BOE Technology Group Co., Ltd. Third Quarterly Report 2020
share donation and the reserved funds converted into share capital during the period office).
(corresponding to the specific shares), they shall still keep their promises till the commitment
period expires.
Fulfill on time or not Yes
Specific reasons for failing to
fulfill commitments on time and None
plans for next step (if any)
IV Financial Investments
1. Securities Investments
√ Applicable □ Not applicable
Unit: RMB
Gain/loss
on Purchased
Accounting Opening Cumulative Gain/loss in Closing
Type of Code of Name of Initial fair-value in the Sold in the Funding
measurement carrying fair-value changes the current carrying Accounting title
securities securities securities investment cost changes in current current period source
method amount through equity period amount
the current period
period
Other equity
Domestic and Electronic Fair value
SH600658 90,160,428.00 72,585,692.00 0.00 -15,375,169.00 0.00 0.00 1,842,137.00 74,785,259.00 instrument Self-funded
overseas stock Zone method
investment
Other equity
Domestic and Bank of Fair value
HK01963 120,084,375.00 105,407,103.00 0.00 -31,306,873.00 0.00 0.00 5,877,804.00 88,777,502.00 instrument Self-funded
overseas stock Chongqing method
investment
Domestic and China Fair value Other equity
HK06066 70,041,364.00 68,545,920.00 0.00 6,144,610.00 0.00 70,041,364.00 0.00 0.00 Self-funded
overseas stock Securities method instrument
11
BOE Technology Group Co., Ltd. Third Quarterly Report 2020
investment
New Other equity
Domestic and Fair value
HK01518 Century 140,848,850.00 53,586,259.00 0.00 -122,572,847.00 0.00 0.00 0.00 18,276,003.00 instrument Self-funded
overseas stock method
Healthcare investment
Other securities investments held at the
0.00 -- 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -- --
period-end
Total 421,135,017.00 -- 300,124,974.00 0.00 -163,110,279.00 0.00 70,041,364.00 7,719,941.00 181,838,764.00 -- --
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 for N/A
the securities investment (if any)
2. Investments in Derivative Financial Instruments
√ Applicable □ Not applicable
Unit: RMB’0,000
Ending
Purchased investment Actual
Relationship Related-party Initial Sold in Impairment
Operating Beginning in Ending as % of the gain/loss in
with the transaction Type of derivative investment Beginning date Ending date Reporting allowance
party investment Reporting investment Company’s Reporting
Company or not amount Period (if any)
Period ending net Period
assets
Financial Not a related Foreign exchange 30 September
No 78,133.44 1 January 2020 78,133.44 134,273.58 92,617.36 - 119,789.66 0.78% 683.17
institutions party forwards contract 2020
Total 78,133.44 -- -- 78,133.44 134,273.58 92,617.36 - 119,789.66 0.78% 683.17
12
BOE Technology Group Co., Ltd. Third Quarterly Report 2020
Funding source Self-funded
Legal matters involved (if applicable) N/A
As of the end of the reporting period, the financial derivatives held by the company are foreign exchange forward contracts, and the
Analysis of risks and control measures associated with
risks faced are related to the uncertainty of the foreign exchange market in the future. The company's control measures for the financial
derivative investments held in Reporting Period (including but
derivatives are as follows: the company controls the types of derivative transactions, reasonably matches the scale of derivative
not limited to market risk, liquidity risk, credit risk, operational
transactions, and the transactions must match the company's production, operation and development planning, mainly for the purpose
risk, legal risk, etc.)
of cost locking and risk prevention.
Changes in market prices or fair value of derivative
investments in Reporting Period (fair value analysis should The fair value of the invested derivatives at the end of the reporting period shall be determined by reference to the market quotation of
include measurement method and related assumptions and the external financial institutions.
parameters)
Major changes in accounting policies and specific accounting
principles adopted for derivative investments in Reporting No major changes
Period compared to last reporting period
Opinion of independent directors on derivative investments
N/A
and risk control
13
BOE Technology Group Co., Ltd. Third Quarterly Report 2020
V Progress of Projects Financed with Raised Funds
√ Applicable □ Not applicable
Unit: RMB’0,000
Total investment of raised funds in
Amount of raised funds (Note 1) 1,392,266 646,796
the Reporting Period
Amount with usage changed of raised funds during
——
the Reporting Period
Accumulative amount with usage changed of raised Total accumulative investment of
—— 1,392,266
funds raised funds
Proportion of total accumulative amount with usage
0%
changed of raised funds
Projects has
been Total Total
Accumulative Progress of Whether major
changed or committed investment
Committed investment Investment in investment as of investment as of changes occur
not investment after
projects Q1-Q3 the period-end the period-end (3) in project
(including of raised adjustment
(2) =(2)/(1) feasibility
partial funds (1)
changes)
19BOEY1
Capital increase to
No 450,000 445,600 50,130 445,600 100% ——
subsidiries
Repayment No 350,000 350,000 - 350,000 100% ——
Subtotal of committed investment projects 800,000 795,600 50,130 795,600 100% ——
20BOEY1
Capital increase to
No 200,000 198,900 198,900 198,900 100% ——
subsidiries
Subtotal of committed investment projects 200,000 198,900 198,900 198,900 100% ——
20BOEY2
Capital increase to
No 200,000 198,878 198,878 198,878 100% ——
subsidiries
Subtotal of committed investment projects 200,000 198,878 198,878 198,878 100% ——
20BOEY3
Capital increase to
No 180,000 180,000 180,000 180,000 100% ——
subsidiries
Supplement to working No 20,000 18,888 18,888 18,888 100% ——
14
BOE Technology Group Co., Ltd. Third Quarterly Report 2020
capital
Subtotal of committed investment projects 200,000 198,888 198,888 198,888 - ——
Total committed investment projects 1,400,000 1,392,266 646,796 1,392,266 - ——
Situation and reasons for not meeting schemed
No
progress or anticipated income
Note to major changes in project feasibility No
Amount, usage and progress of over-raised funds No
Changes in implementation place of projects financed
No
with raised funds
Adjustment of implementation method of projects
No
financed with raised funds
As of 30 September 2020, the Company has replaced RMB4,515 million of
up-front investment of committed investment projects by raised funds, of which
RMB785 million was replaced for up-front investment projects of raised funds
Up-front investment and replacement of projects by 2019 initial renewable corporation bonds, RMB1,600 million was replaced
financed with raised funds for up-front investment projects of raised funds by 2020 first renewable
corporation bonds, and RMB1,200 million was replaced by 2020 second
corporation bonds and RMB930 million was replaced by 2020 third corporation
bonds.
Supplement to working capital temporarily by idle
No
raised funds
Surplus amount of raised funds for projects and
No
reasons
Usage and destination for unused raised funds No
Problems or others when using raised funds and
No
disclosing
Note 1: The amount of raised funds was the net amount after the total amount of raised funds by renewable corporation bonds
through public issue deducting issuances cost (tax inclusive).
VI 2020 Annual Operating Performance Forecast
Warning of a forecast loss on or a forecast significant year-on-year change in the 2020 annual net profit, as well as explanation of
why:
□ Applicable √ Not applicable
VII Significant Contracts Arising from the Company’s Ordinary Course of Business
□ Applicable √ Not applicable
15
BOE Technology Group Co., Ltd. Third Quarterly Report 2020
VIII Cash Entrusted for Wealth Management
√ Applicable □ Not applicable
Unit: RMB’0,000
Unrecovered overdue
Type Funding source Amount Undue amount
amount
Bank’s wealth management product and
Self-funded 716,300 329,937 0
structured deposit
Total 716,300 329,937 0
High-risk wealth management transactions with a significant single amount, or with low security, low liquidity or no principal
protection:
√ Applicable □ Not applicable
Wealth management transactions with possible impairments including an expectedly unrecoverable principal:
□ Applicable √ Not applicable
IX Irregularities in the Provision of Guarantees
□ Applicable √ Not applicable
No such cases in the Reporting Period.
X Occupation of the Company’s Capital by the Controlling Shareholder or any of Its Related
Parties for Non-Operating Purposes
□ Applicable √ Not applicable
No such cases in the Reporting Period.
16
BOE Technology Group Co., Ltd. Third Quarterly Report 2020
XI Communications with the Investment Community such as Researches, Inquiries and Interviews Received during the Reporting
Period
√ Applicable □ Not applicable
Type of Major discussion Index to main
Way of
Date Place communication Communication party content and information
communication
party information provided communicated
China Re Asset, China Post Securities, China Post Fund, China Yingli, BOC
International Securities, ZTC, CITIC Securities, CITIC New Future Fund, CITIC
Holdings, China Securities, China Fund, Zhong Ou AMC, CICC, AVIC Fund, Fortune
Growth Captial, Changjiang Securities, Yinhua Fund, CGS, Galaxy AMC, Evalueserve,
Yansheng Investment, Asia-Pacific P&C, Xingzheng Securities, Sinvo Fund, New China 1. 2020 semi-annual
Fund, Southwest Securities, Minmetals Securities, Wanlian Securities, DayLing performance of the
(Beijing) Investment Management, Tianhong Fund, Tian An Life, Taikang Management, Company and main
Manulife Teda, Shenzhen Dongfangjunzheng Capitals, Social Security Fund, Shanghai situation of the
Technology Lengze Investment, Kingdom Capital, Credit Suisse Founder Securities, PICC, First industry;
Innovation Seafront Fund, Ping An Securities, Ping An Haiguo (Beijing) Management, Pengyang
2. Main operating
1 September Centre and AMC, ABC Life, Minsheng Securities, Minsheng Royal Fund, Kaiyuan Securities, For details, see
One-site visit Institutions information of the
2020 Meeting Room Genharmony, JT Asset, Greenwoods Asset, Jingjing Investment, Jiangxin Fund, CCB www.cninfo.com.cn
Company;
of the Principle, Harvest Fund, JYAH Asset, HSBC Jintrust, HSBC Securities, China Everwin
3. Innovations of
Company Asset, Huaxi Securities, Huatai Securities, Huashang Fund, Huarong Securities, Huajin
technology and
Kaiyuan, Hua Chuang Securities, Hongta Securities, Sequoia Capital, Union Asset,
products;
Guosen Securities, Guotai Junan, China Life AMP, Guosheng Securities, Guolian
4. Future strategy
Securities, Gfund Management, Guohou AMC, Guodu Securities, GF Securities, GF
layout
Fund, Fengpei Investment, Fenghe Zhengqin, Founder Securities, Orient Securities,
Orient Fund, Dong’an Investment, Tebon Securities, Damu Capital, Dajia Asset, Broad
Fund, Beixin Ruifeng Fund, Wenboqisheng Investment, Tagee Asset Management,
Starock Investment, Beijing Runda Sheng’an Asset Management, Beijing Huairang
Asset Management, Beijing Richland Capital Management, Haiyan Capital Mangement,
17
BOE Technology Group Co., Ltd. Third Quarterly Report 2020
Beijing Chenjun Asset Management, Beijing Baiquan Huizhong Investment, Macau
Qixin Belt and Road Industrial Fund
Zundao Assets, ZKI Insurance, Chongqing Boyong Funds, China Re Asset, China Post
Securities, China Post Life Insurance, China Post Funds, BOC Funds, BOC International
Securities, BOC International, China Galaxy International, Generali China, Generali
Asset, Zhongxuan Investment Management, CITIC Capital, CITIC Securities, China
Securities, China Fund, CITIC Prudential, CITIC Prudential Fund, Zhongtai Securities,
Zhong Rong Hui Xin Futures, Zhongrongding Investment, Zhong Ou Asset
Management, CS Richland Asset, CICC Asset Management, CICC, Bank Of Beijing
Scotiabank Asset Management, AVIC Fund, China Life Asset Management, PICC, CSIC
Finance Company, FGC, Zheshang Securities, Zhejiang Yisheng Asset Management,
China Merchants Fund, Changxin Fund, Changsheng Fund, Changjiang Securities,
1. Main situation of
Changjiang Pension Insurance, Great Wall Securities, Great Wall Glory Securities,
the industry;
Yunshan Investment, Yuanhao Capital, COWIN, Winsure Capital, AIA Asset
2. Main operating
Management, Yourong Asset, Maxwealth Fund, Infore Capital, Yingda Securities,
information of the
24 September Yinhua Fund, China Galaxy Securities, Galaxy AMC, Flying Tiger, Evalueserve, For details, see
Teleconference By phone Institutions Company;
2020 Evalueserve, Nomura Securities Hong Kong, Nomura Orient International Securities, www.cninfo.com.cn
3. The Company’s
API P&C, Xunchang Investment, Xuanbu Investment, Industrial Securities Asset
participation in
Management, Xingyin Fund, Industrial Securities, CIB Fund, Starlux Investments, Cinda
industrial
Securities, Xinyuan Asset Management, Sinvo Fund, New Times Securities, New Power
consolidation
Capital, New China Assets Management, New China Asset, Xishan Capital, Southwest
Securities, Tibet Eastmoney Fund, Western Securities, Western Leadbank Fund, Winning
Ventures, Windsor Capital, Future Assets, Wanjia Asset, Tongtai AMC, Tongben
Investment, China Nature Asset Management, Tiansun Investment, Tianhong Asset
Management, Tianfeng Securities, Skywind International, Tianchong Capital, Tianan
Life, Tianan Property Insurance, First-trust Fund, Taikang Asset Management, Manulife
TEDA Fund, Taiping Asset, Taiping Pension, Timewise International Capital
Corporation, Shunfeng Asset, Capital Securities, Mega Trust Investment, Rock Bay
Investment, Shicheng Holding, Shenzhen Zhengyuan Investment, Shenzhen Xinran
Asset Management, ShenZhen Wukong Investment, Shenzhen Spruces Capital,
18
BOE Technology Group Co., Ltd. Third Quarterly Report 2020
Shenzhen Zhicheng Haiwei Investment, Shenzhen Rongshu Investment Management,
Shenzhen Hongchou Investment, Shenzhen Shandao IMC, Shenzhen Shanshi Fund,
ShenZhen QianHai Hawking Capital, Shenzhen Longteng Assets, Shenzhen KingTower,
Shenzhen Jinyou Chuangzhi Asset Management, Shenzhen Guanghuiyuan Asset
Management, Shenzhen Hillview Capital Management, Shenzhen Orient Junzheng
Capital Management, Shenwan Hongyuan Securities, Shanghai Jurassic Asset
Management, Shanghai SHCB Investment Management, Shanghai Ztcapital
Management, Shanghai Yinshi Capital Management, Shanghai Yijinghui Capital
Management, Shanghai Sunsource Investment, Shanghai Top Capital Management,
Shanghai Tanyi, Shanghai Elegant Investment, Shanghai Hawthorn Asset Management,
Shanghai Qunbo Asset Management, Shanghai Mingyu Asset Management, Shanghai
Intewise Capital, Shanghai Kingsun Investment Management, Shanghai Trend Capital,
Shanghai Hanpu Investment, Shanghai Guoxin Investment, Shanghai Dingling Asset
Management, Shanghai Biaopu Investment, Sumitomo Mitsui DS Asset Management,
Credit Suisse Founder Securities, Credit Suisse Founder, PICC Asset Management,
Shanghai Quanli Asset Management, Shanghai Knight Investment, Qingdao Anzhi
Capital, First Qianhai Fund, Cloud Alpha, Pearl Investment, Zhiling Sanlian Asset
Management, Ping An Asset Management, Ping An Securities, Ping An Pension
Insurance, Pengyang Fund, Panjing Investment, Lord Abbett China Asset Management,
ABC Life, ABC-CA Fund, Ningbo Yuehai Xiehe Asset Management, Nixi Capital,
Monita Research, Minya Fund, DIB Asset, Mingyu Asset, Minsheng Securities
Investment Department, Minsheng Securities, Minsheng Trust, Minsheng Royal Fund,
Macquarie Securities, Longwin Investment, Long Hang Assets, Lowrisk Asset,
Commando Capital, V. Stone Fund, Kaiding Investment, Kaiyuan Securities, J.K. Life,
JT Asset Management, Invesco Great Wall, Greenwoods, Goldstate Securities, Golden
Eagle Fund, BOCOM Schroder Fund, Winfast Holding, Kiingsun Investment, CCB
Pension Management, CCB Investment, CCB Wealth, Harvest Fund, Co-Stone Asset,
HSBC Jinxin, HSBC, High-flyer Quant, Huaxia Bank Asset Management Department,
Huaxia Future Investment, Huaxi Securities, Huatai Securities Asset Management,
Huatai Securities, Huatai Baoxing Fund, Huashang Fund, CR Yuanta Fund, Huarong
19
BOE Technology Group Co., Ltd. Third Quarterly Report 2020
Securities, Huaneng Trust, Huajin Securities, Harfor Fund, Huachuang Securities
Self-support, Huachuang Securities, Mirae Asset, Hwabao WP Fund, Hubei Dingfeng
Asset, Hongsheng Asset, Honghu Investment, Hongde Fund, Hongdao Investment,
Honggang Asset, Hongyi Horizon Fund, HSAM, Hengyuan Capital, Hang Seng Qianhai
Fund, Heng An Standard Life, Union Asset, KWG Group Holdings, Juji Asset,
Hangzhou Hao Sheng Investment, Hangzhou Gufu Asset Management, Korea
Investment, Haitong Securities, Guoyuan Securities, Guosen Securities, UBS SDIC,
Guotai Junan Securities Asset Management, Guotai Junan Securities, Guotai Junan
International. Guotai Junan, China Life AMP, Guosheng Securities, Guolian Securities,
CPIC Fund, Guohua Life, Sealand Securities, Guangzhou Xuanyuan Asset Management,
Hui Chuang Fu Xiang, Red Cat Asset, Guangyin Wealth Management, GF Securities,
GF Fund, Everbright Securities, Sun Life Everbright Asset Management, Everbright
PGIM, Everest Investment, Gaozheng Investment, Goldman Sachs, Fuxi Capital,
Full-Good Investment, Fusion Fund, Fupei Investment, Fengpei Investment, Fenghe
Zhengqin, Fengcang Fund, Founder Asset Management, Founder Securities Asset
Management, Founder Securities, Founder Fubon Fund, Fangyuan Fund, DH Fund
Management, Dongxing Securities, Soochow Securities, Soochow Fund, Donghai
Securities Asset Management, Donghai Fund, Orient Securities, Eastmoney Securities,
Northeast Securities Self-support, Northeast Securities, Dingcheng Life, Diecai Asset,
DJ Asset, Elephant Asset, Dajia Asset, Pureking Fund, TryValue Asset Management,
Chuancai Securities, Chengsi Investment, Caitong Securities, Fortune Securities,
Brilliance Capital, Boze Asset, Boyuan Fund, Bosera Asset, Bodu Investment, Broad
Fund, Botong Investment, Beixin Ruifeng Fund, Beijing ZhiKai Investment, Beijing
Yunchengtai, Beijing Yongyuan Antai, Beijing Yan Hnag Investment, Beijing
International Trust, Beijing WenboQisheng Investment, Beijing Taozhu Investment,
Beijing Shennong Capital, Beijing Forest Lake Assets, Beijing Rundasheng’an Asset
Management, Beijing Qingtian Puruiming Capital Management, Beijing Heju Asset,
HZPH Investment, Beijing Gushan Investment, Beijing Dingsa Fund, Beijing
Chengyang Investment, Beijing Chengsheng Investment, Power Pacific, Oscar and
Partners Capital, Essence Securities Asset Management Department, Essence Funds, TX
20
BOE Technology Group Co., Ltd. Third Quarterly Report 2020
Capital, Sherwood capital , RWC Partners, Q Fund Management, PAG, OPPO,
Oppenheimer&Co , Octo Rivers AM, Oberweis Asset Mgt, Morgan Stanley, Mighty
Divine, Inventio Capital, eFusion Capital, Cyber atlas capital, Bank of America , Aspex,
Acuity knowledge partner
1. Main situation of
the industry;
2. Main operating
information of the
25 September Company; For details, see
Teleconference By phone Institutions Orient Securities Asset Management
2020 3. Innovations of www.cninfo.com.cn
technology and
products;
4. Future strategy
layout
21
BOE Technology Group Co., Ltd. Third Quarterly Report 2020
Part IV Financial Statements
I Financial Statements
1. Consolidated Balance Sheet
Prepared by BOE Technology Group Co., Ltd.
Unit: RMB
Item 30 September 2020 31 December 2019
Current assets:
Monetary assets 62,338,112,869.00 56,972,723,239.00
Settlement reserve 0.00 0.00
Loans to other banks and financial institutions 0.00 0.00
Held-for-trading financial assets 910,181,955.00 5,809,184,994.00
Derivative financial assets 0.00 0.00
Notes receivable 222,062,722.00 331,145,492.00
Accounts receivable 25,674,013,316.00 18,135,687,806.00
Receivables financing 0.00 0.00
Prepayments 726,343,577.00 626,985,706.00
Premiums receivable 0.00 0.00
Reinsurance receivables 0.00 0.00
Receivable reinsurance contract reserve 0.00 0.00
Other receivables 788,820,007.00 706,171,112.00
Including: Interest receivable 280,235,641.00 215,977,831.00
Dividends receivable 1,842,137.00 0.00
Financial assets purchased under resale agreements 0.00 0.00
Inventories 16,265,621,739.00 12,396,194,762.00
Contract assets 0.00 0.00
Assets held for sale 186,518,605.00 173,910,820.00
Current portion of non-current assets 0.00 0.00
Other current assets 9,690,494,284.00 9,296,637,067.00
Total current assets 116,802,169,074.00 104,448,640,998.00
Non-current assets:
Loans and advances to customers 0.00 0.00
22
BOE Technology Group Co., Ltd. Third Quarterly Report 2020
Debt investments 0.00 0.00
Other debt investments 0.00 0.00
Long-term receivables 0.00 0.00
Long-term equity investments 3,406,202,480.00 2,718,037,934.00
Investments in other equity instruments 523,401,702.00 632,076,647.00
Other non-current financial assets 0.00 0.00
Investment property 1,208,688,308.00 1,241,242,850.00
Fixed assets 167,494,871,440.00 125,786,241,938.00
Construction in progress 53,901,883,532.00 87,376,782,527.00
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 7,637,768,665.00 7,416,416,829.00
Development costs 0.00 0.00
Goodwill 707,603,856.00 707,603,856.00
Long-term prepaid expense 314,054,561.00 345,424,409.00
Deferred income tax assets 211,838,738.00 248,153,761.00
Other non-current assets 10,959,518,300.00 9,491,581,559.00
Total non-current assets 246,365,831,582.00 235,963,562,310.00
Total assets 363,168,000,656.00 340,412,203,308.00
Current liabilities:
Short-term borrowings 4,240,667,951.00 6,366,717,121.00
Borrowings from the central bank 0.00 0.00
Loans from other banks and financial institutions 0.00 0.00
Held-for-trading financial liabilities 0.00 0.00
Derivative financial liabilities 0.00 0.00
Notes payable 727,826,836.00 2,028,917,980.00
Accounts payable 25,347,767,660.00 21,183,567,553.00
Advances from customers 2,733,395,727.00 1,260,732,785.00
Contract liabilities 2,421,726,639.00 0.00
Financial assets sold under repurchase agreements 0.00 0.00
Customer deposits and deposits from other banks and financial
0.00 0.00
institutions
Payables for acting trading of securities 0.00 0.00
Payables for underwriting of securities 0.00 0.00
23
BOE Technology Group Co., Ltd. Third Quarterly Report 2020
Employee benefits payable 3,256,850,569.00 2,373,745,454.00
Taxes and levies payable 1,228,361,027.00 730,996,129.00
Other payables 24,725,257,378.00 24,570,589,610.00
Including: Interest payable 489,675,323.00 721,325,540.00
Dividends payable 6,451,171.00 14,568,242.00
Fees and commissions payable 0.00 0.00
Reinsurance payables 0.00 0.00
Liabilities directly associated with assets held for sale 0.00 0.00
Current portion of non-current liabilities 24,916,426,330.00 18,849,281,019.00
Other current liabilities 1,671,444,463.00 1,013,738,515.00
Total current liabilities 91,269,724,580.00 78,378,286,166.00
Non-current liabilities:
Insurance contract reserve 0.00 0.00
Long-term borrowings 107,860,877,820.00 107,730,595,615.00
Bonds payable 408,394,604.00 387,878,384.00
Including: Preference shares 0.00 0.00
Perpetual bonds 0.00 0.00
Lease liabilities 0.00 0.00
Long-term payables 1,006,027,147.00 984,520,824.00
Long-term employee benefits payable 0.00 0.00
Provisions 0.00 16,457,010.00
Deferred income 2,208,095,551.00 2,204,400,566.00
Deferred income tax liabilities 1,458,976,736.00 1,451,825,357.00
Other non-current liabilities 5,407,861,433.00 8,200,542,412.00
Total non-current liabilities 118,350,233,291.00 120,976,220,168.00
Total liabilities 209,619,957,871.00 199,354,506,334.00
Owners’ equity:
Share capital 34,798,398,763.00 34,798,398,763.00
Other equity instruments 14,332,500,989.00 8,013,156,853.00
Including: Preference shares 0.00 0.00
Perpetual bonds 14,332,500,989.00 8,013,156,853.00
Capital reserves 38,424,066,128.00 38,353,242,364.00
Less: Treasury stock 1,998,774,694.00 0.00
Other comprehensive income 234,328,204.00 -4,566,639.00
24
BOE Technology Group Co., Ltd. Third Quarterly Report 2020
Specific reserve 0.00 0.00
Surplus reserves 2,050,045,823.00 1,516,139,709.00
General reserve 0.00 0.00
Retained earnings 13,268,663,702.00 12,381,758,005.00
Total equity attributable to owners of the Company as the parent 101,109,228,915.00 95,058,129,055.00
Non-controlling interests 52,438,813,870.00 45,999,567,919.00
Total owners’ equity 153,548,042,785.00 141,057,696,974.00
Total liabilities and owners’ equity 363,168,000,656.00 340,412,203,308.00
Legal representative: Chen Yanshun President of the Company’s Execution Committee: Liu Xiaodong
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 30 September 2020 31 December 2019
Current assets:
Monetary assets 1,755,721,852.00 3,680,770,048.00
Held-for-trading financial assets 0.00 0.00
Derivative financial assets 0.00 0.00
Notes receivable 82,626,373.00 84,230,531.00
Accounts receivable 5,367,620,145.00 646,533,115.00
Receivables financing 0.00 0.00
Prepayments 129,949,476.00 77,682,682.00
Other receivables 6,938,500,983.00 4,827,398,094.00
Including: Interest receivable 7,476,236.00 11,884,080.00
Dividends receivable 1,842,137.00 941,634,611.00
Inventories 17,252,710.00 13,935,401.00
Contract assets 0.00 0.00
Assets held for sale 0.00 0.00
Current portion of non-current assets 0.00 0.00
Other current assets 34,523,408.00 109,497,897.00
Total current assets 14,326,194,947.00 9,440,047,768.00
Non-current assets:
Debt investments 0.00 0.00
25
BOE Technology Group Co., Ltd. Third Quarterly Report 2020
Other debt investments 0.00 0.00
Long-term receivables 0.00 0.00
Long-term equity investments 170,317,896,310.00 159,389,864,760.00
Investments in other equity instruments 81,605,291.00 79,405,724.00
Other non-current financial assets 0.00 0.00
Investment property 273,269,859.00 280,525,802.00
Fixed assets 1,005,428,571.00 949,104,308.00
Construction in progress 321,566,189.00 358,933,667.00
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 1,411,796,919.00 1,493,632,264.00
Development costs 0.00 0.00
Goodwill 0.00 0.00
Long-term prepaid expense 109,748,011.00 109,216,398.00
Deferred income tax assets 0.00 360,268,466.00
Other non-current assets 158,958,229.00 162,516,190.00
Total non-current assets 173,680,269,379.00 163,183,467,579.00
Total assets 188,006,464,326.00 172,623,515,347.00
Current liabilities:
Short-term borrowings 0.00 1,220,000,000.00
Held-for-trading financial liabilities 0.00 0.00
Derivative financial liabilities 0.00 0.00
Notes payable 0.00 0.00
Accounts payable 32,053,718.00 27,919,341.00
Advances from customers 15,745,900.00 2,117,568,995.00
Contract liabilities 96,762,330.00 0.00
Employee benefits payable 165,970,658.00 252,206,075.00
Taxes and levies payable 201,343,936.00 107,287,957.00
Other payables 2,946,375,972.00 5,260,470,974.00
Including: Interest payable 388,888,429.00 95,859,219.00
Dividends payable 6,451,171.00 6,451,171.00
Liabilities directly associated with assets held for sale 0.00 0.00
Current portion of non-current liabilities 14,600,440,787.00 5,490,440,787.00
26
BOE Technology Group Co., Ltd. Third Quarterly Report 2020
Other current liabilities 13,141.00 1,423,133.00
Total current liabilities 18,058,706,442.00 14,477,317,262.00
Non-current liabilities:
Long-term borrowings 28,800,701,574.00 33,310,701,574.00
Bonds payable 0.00 0.00
Including: Preference 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 employee benefits payable 0.00 0.00
Provisions 0.00 0.00
Deferred income 3,855,781,467.00 4,627,393,256.00
Deferred income tax liabilities 582,248,729.00 0.00
Other non-current liabilities 39,076,661,805.00 33,297,240,830.00
Total non-current liabilities 72,315,393,575.00 71,235,335,660.00
Total liabilities 90,374,100,017.00 85,712,652,922.00
Owners’ equity:
Share capital 34,798,398,763.00 34,798,398,763.00
Other equity instruments 14,332,500,989.00 8,013,156,853.00
Including: Preference shares 0.00 0.00
Perpetual bonds 14,332,500,989.00 8,013,156,853.00
Capital reserves 37,610,180,927.00 37,608,039,685.00
Less: Treasury stock 1,998,774,694.00 0.00
Other comprehensive income 376,827,376.00 193,638,576.00
Specific reserve 0.00 0.00
Surplus reserves 2,050,045,823.00 1,516,139,709.00
Retained earnings 10,463,185,125.00 4,781,488,839.00
Total owners’ equity 97,632,364,309.00 86,910,862,425.00
Total liabilities and owners’ equity 188,006,464,326.00 172,623,515,347.00
3. Consolidated Income Statement for Q3
Unit: RMB
Item Q3 2020 Q3 2019
1. Revenues 40,820,898,656.00 30,682,823,546.00
27
BOE Technology Group Co., Ltd. Third Quarterly Report 2020
Including: Operating revenue 40,820,898,656.00 30,682,823,546.00
Interest income 0.00 0.00
Insurance premium income 0.00 0.00
Fee and commission income 0.00 0.00
2. Costs and expenses 39,348,855,319.00 31,097,785,874.00
Including: Cost of sales 33,224,749,252.00 27,057,692,052.00
Interest expense 0.00 0.00
Fee and commission expense 0.00 0.00
Surrenders 0.00 0.00
Net insurance 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 levies 242,449,005.00 214,937,325.00
Selling expense 1,018,598,325.00 631,659,702.00
Administrative expense 2,134,275,006.00 1,371,592,653.00
R&D expense 2,006,550,087.00 1,607,788,491.00
Finance costs 722,233,644.00 214,115,651.00
Including: Interest expense 918,134,261.00 64,529,664.00
Interest income 222,433,818.00 238,386,295.00
Add: Other income 337,434,367.00 274,484,937.00
Return on investment (“-” for loss) 136,550,419.00 62,422,694.00
Including: Share of profit or loss of joint ventures and
111,498,368.00 40,210,928.00
associates
Income from the derecognition of financial assets at
0.00 0.00
amortized cost (“-” for loss)
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) 2,984,227.00 75,790,778.00
Credit impairment loss (“-” for loss) 1,666,681.00 -811,324.00
Asset impairment loss (“-” for loss) -137,129,208.00 -584,698,398.00
Asset disposal income (“-” for loss) 6,425,567.00 -599,481.00
3. Operating profit (“-” for loss) 1,819,975,390.00 -588,373,122.00
Add: Non-operating income 39,423,897.00 28,303,377.00
Less: Non-operating expense 22,982,486.00 18,339,210.00
28
BOE Technology Group Co., Ltd. Third Quarterly Report 2020
4. Gross profit (“-” for loss) 1,836,416,801.00 -578,408,955.00
Less: Income tax expense 446,300,763.00 218,461,783.00
5. Net profit (“-” for net loss) 1,390,116,038.00 -796,870,738.00
5.1 By operating continuity
5.1.1 Net profit from continuing operations (“-” for net loss) 1,390,116,038.00 -796,870,738.00
5.1.2 Net profit from discontinued operations (“-” for net
0.00 0.00
loss)
5.2 By ownership
5.2.1 Net profit attributable to owners of the Company as 1,340,387,777.00
183,791,110.00
the parent
5.2.1 Net profit attributable to non-controlling interests 49,728,261.00 -980,661,848.00
6. Other comprehensive income, net of tax 5,048,362.00 40,095,872.00
Attributable to owners of the Company as the parent 24,264,521.00 27,776,614.00
6.1 Items that will not be reclassified to profit or loss -29,133,661.00 -23,120,769.00
6.1.1 Changes caused by remeasurements on defined
0.00 0.00
benefit schemes
6.1.2 Other comprehensive income that will not be
-17,087,280.00 0.00
reclassified to profit or loss under the equity method
6.1.3 Changes in the fair value of investments in other
-12,046,381.00 -23,120,769.00
equity instruments
6.1.4 Changes in the fair value arising from changes in
0.00 0.00
own credit risk
6.1.5 Other 0.00 0.00
6.2 Items that will be reclassified to profit or loss 53,398,182.00 50,897,383.00
6.2.1 Other comprehensive income that will be
0.00 0.00
reclassified to profit or loss under the equity method
6.2.2 Changes in the fair value of other debt investments 0.00 0.00
6.2.3 Other comprehensive income arising from the
0.00 0.00
reclassification of financial assets
6.2.4 Credit impairment allowance for other debt
0.00 0.00
investments
6.2.5 Reserve for cash flow hedges 0.00 0.00
6.2.6 Differences arising from the translation of foreign
53,398,182.00 50,897,383.00
currency-denominated financial statements
6.2.7 Other 0.00 0.00
Attributable to non-controlling interests -19,216,159.00 12,319,258.00
7. Total comprehensive income 1,395,164,400.00 -756,774,866.00
Attributable to owners of the Company as the parent 1,364,652,298.00 211,567,724.00
29
BOE Technology Group Co., Ltd. Third Quarterly Report 2020
Attributable to non-controlling interests 30,512,102.00 -968,342,590.00
8. Earnings per share
8.1 Basic earnings per share 0.035 0.005
8.2 Diluted earnings per share 0.035 0.005
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: Chen Yanshun President of the Company’s Execution Committee: Liu Xiaodong
Chief Financial Officer: Sun Yun Head of the Company’s Financial Department: Yang Xiaoping
4. Income Statement of the Company as the Parent for Q3
Unit: RMB
Item Q3 2020 Q3 2019
1. Operating revenue 1,653,837,063.00 804,092,949.00
Less: Cost of sales 3,502,515.00 4,639,853.00
Taxes and levies 8,311,911.00 13,328,825.00
Selling expense 0.00 0.00
Administrative expense 150,023,573.00 177,461,557.00
R&D expense 458,683,338.00 562,250,371.00
Finance costs 230,073,090.00 247,532,655.00
Including: Interest expense 240,835,556.00 241,987,314.00
Interest income 4,321,863.00 6,493,528.00
Add: Other income 232,823,147.00 234,796,640.00
Return on investment (“-” for loss) 112,314,671.00 40,393,087.00
Including: Share of profit or loss of joint ventures and
112,314,666.00 40,210,928.00
associates
Income from the derecognition of financial assets at
0.00 0.00
amortized cost (“-” for loss)
Net gain on exposure hedges (“-” for loss) 0.00 0.00
Gain on changes in fair value (“-” for loss) 0.00 0.00
Credit impairment loss (“-” for loss) -4,732,644.00 0.00
Asset impairment loss (“-” for loss) 0.00 0.00
Asset disposal income (“-” for loss) 0.00 0.00
2. Operating profit (“-” for loss) 1,143,647,810.00 74,069,415.00
Add: Non-operating income 1,243,486.00 127,852.00
30
BOE Technology Group Co., Ltd. Third Quarterly Report 2020
Less: Non-operating expense 7,169,314.00 126,852.00
3. Gross profit (“-” for loss) 1,137,721,982.00 74,070,415.00
Less: Income tax expense 172,199,203.00 20,460,727.00
4. Net profit (“-” for net loss) 965,522,779.00 53,609,688.00
4.1 Net profit from continuing operations (“-” for net loss) 965,522,779.00 53,609,688.00
4.2 Net profit from discontinued operations (“-” for net loss) 0.00 0.00
5. Other comprehensive income, net of tax -23,280,434.00 17,375,934.00
5.1 Items that will not be reclassified to profit or loss -23,280,434.00 17,375,934.00
5.1.1 Changes caused by remeasurements on defined benefit
0.00 0.00
schemes
5.1.2 Other comprehensive income that will not be
-17,087,279.00 0.00
reclassified to profit or loss under the equity method
5.1.3 Changes in the fair value of investments in other
-6,193,155.00 17,375,934.00
equity instruments
5.1.4 Changes in the fair value arising from changes in own
0.00 0.00
credit risk
5.1.5 Other 0.00 0.00
5.2 Items that will be reclassified to profit or loss 0.00 0.00
5.2.1 Other comprehensive income that will be reclassified
0.00 0.00
to profit or loss under the equity method
5.2.2 Changes in the fair value of other debt investments 0.00 0.00
5.2.3 Other comprehensive income arising from the
0.00 0.00
reclassification of financial assets
5.2.4 Credit impairment allowance for other debt
0.00 0.00
investments
5.2.5 Reserve for cash flow hedges 0.00 0.00
5.2.6 Differences arising from the translation of foreign
0.00 0.00
currency-denominated financial statements
5.2.7 Other 0.00 0.00
6. Total comprehensive income 942,242,345.00 70,985,622.00
7. Earnings per share
7.1 Basic earnings per share 0.0240 0.0015
7.2 Diluted earnings per share 0.0240 0.0015
5. Consolidated Income Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2020 Q1~Q3 2019
31
BOE Technology Group Co., Ltd. Third Quarterly Report 2020
1. Revenues 101,687,972,162.00 85,722,032,233.00
Including: Operating revenue 101,687,972,162.00 85,722,032,233.00
Interest income 0.00 0.00
Insurance premium income 0.00 0.00
Fee and commission income 0.00 0.00
2. Costs and expenses 99,548,275,631.00 84,988,854,900.00
Including: Cost of sales 84,494,340,361.00 72,870,025,283.00
Interest expense 0.00 0.00
Fee and commission expense 0.00 0.00
Surrenders 0.00 0.00
Net insurance 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 levies 755,063,118.00 639,790,732.00
Selling expense 2,469,423,809.00 1,996,946,988.00
Administrative expense 4,651,871,656.00 3,568,776,147.00
R&D expense 5,250,983,185.00 4,532,446,727.00
Finance costs 1,926,593,502.00 1,380,869,023.00
Including: Interest expense 2,416,222,511.00 1,600,091,473.00
Interest income 644,111,510.00 637,209,152.00
Add: Other income 1,862,952,382.00 1,392,437,864.00
Return on investment (“-” for loss) 151,691,886.00 75,988,065.00
Including: Share of profit or loss of joint ventures and
83,850,206.00 23,638,967.00
associates
Income from the derecognition of financial assets at
0.00 0.00
amortized cost (“-” for loss)
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) 22,707,526.00 131,456,933.00
Credit impairment loss (“-” for loss) 2,472,594.00 -21,041,769.00
Asset impairment loss (“-” for loss) -1,780,410,418.00 -1,182,805,265.00
Asset disposal income (“-” for loss) 18,082,818.00 -225,802.00
3. Operating profit (“-” for loss) 2,417,193,319.00 1,128,987,359.00
Add: Non-operating income 91,617,388.00 124,646,909.00
32
BOE Technology Group Co., Ltd. Third Quarterly Report 2020
Less: Non-operating expense 55,742,031.00 30,187,550.00
4. Gross profit (“-” for loss) 2,453,068,676.00 1,223,446,718.00
Less: Income tax expense 942,107,787.00 892,236,824.00
5. Net profit (“-” for net loss) 1,510,960,889.00 331,209,894.00
5.1 By operating continuity
5.1.1 Net profit from continuing operations (“-” for net loss) 1,510,960,889.00 331,209,894.00
5.1.2 Net profit from discontinued operations (“-” for net
0.00 0.00
loss)
5.2 By ownership
5.2.1 Net profit attributable to owners of the Company as 2,475,838,102.00
1,852,239,559.00
the parent
5.2.1 Net profit attributable to non-controlling interests -964,877,213.00 -1,521,029,665.00
6. Other comprehensive income, net of tax 232,016,469.00 88,992,377.00
Attributable to owners of the Company as the parent 231,265,568.00 75,908,403.00
6.1 Items that will not be reclassified to profit or loss 142,031,502.00 -46,727,821.00
6.1.1 Changes caused by remeasurements on defined
0.00 0.00
benefit schemes
6.1.2 Other comprehensive income that will not be
181,319,168.00 0.00
reclassified to profit or loss under the equity method
6.1.3 Changes in the fair value of investments in other
-39,287,666.00 -46,727,821.00
equity instruments
6.1.4 Changes in the fair value arising from changes in
0.00 0.00
own credit risk
6.1.5 Other 0.00 0.00
6.2 Items that will be reclassified to profit or loss 89,234,066.00 122,636,224.00
6.2.1 Other comprehensive income that will be
0.00 175,359,777.00
reclassified to profit or loss under the equity method
6.2.2 Changes in the fair value of other debt investments 0.00 0.00
6.2.3 Other comprehensive income arising from the
0.00 0.00
reclassification of financial assets
6.2.4 Credit impairment allowance for other debt
0.00 0.00
investments
6.2.5 Reserve for cash flow hedges 0.00 0.00
6.2.6 Differences arising from the translation of foreign
89,234,066.00 -52,723,553.00
currency-denominated financial statements
6.2.7 Other 0.00 0.00
Attributable to non-controlling interests 750,901.00 13,083,974.00
7. Total comprehensive income 1,742,977,358.00 420,202,271.00
33
BOE Technology Group Co., Ltd. Third Quarterly Report 2020
Attributable to owners of the Company as the parent 2,707,103,670.00 1,928,147,962.00
Attributable to non-controlling interests -964,126,312.00 -1,507,945,691.00
8. Earnings per share
8.1 Basic earnings per share 0.061 0.053
8.2 Diluted earnings per share 0.061 0.053
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: Chen Yanshun President of the Company’s Execution Committee: Liu Xiaodong
Chief Financial Officer: Sun Yun Head of the Company’s Financial Department: Yang Xiaoping
6. Income Statement of the Company as the Parent for Q1~Q3
Unit: RMB
Item Q1~Q3 2020 Q1~Q3 2019
1. Operating revenue 2,943,720,389.00 3,693,788,781.00
Less: Cost of sales 11,128,849.00 13,866,441.00
Taxes and levies 25,460,327.00 32,091,950.00
Selling expense 0.00 0.00
Administrative expense 456,606,140.00 480,568,050.00
R&D expense 1,301,880,122.00 1,496,046,336.00
Finance costs 717,670,122.00 737,047,649.00
Including: Interest expense 741,798,281.00 746,772,224.00
Interest income 20,741,029.00 24,854,626.00
Add: Other income 737,580,146.00 702,776,927.00
Return on investment (“-” for loss) 953,122,404.00 832,587,366.00
Including: Share of profit or loss of joint ventures and
101,280,267.00 23,691,240.00
associates
Income from the derecognition of financial assets at
0.00 0.00
amortized cost (“-” for loss)
Net gain on exposure hedges (“-” for loss) 0.00 0.00
Gain on changes in fair value (“-” for loss) 0.00 0.00
Credit impairment loss (“-” for loss) -7,391,723.00 -7,044,401.00
Asset impairment loss (“-” for loss) 0.00 0.00
Asset disposal income (“-” for loss) 0.00 0.00
2. Operating profit (“-” for loss) 2,114,285,656.00 2,462,488,247.00
34
BOE Technology Group Co., Ltd. Third Quarterly Report 2020
Add: Non-operating income 5,378,172.00 2,575,137.00
Less: Non-operating expense 7,362,084.00 975,890.00
3. Gross profit (“-” for loss) 2,112,301,744.00 2,464,087,494.00
Less: Income tax expense 188,363,469.00 305,734,696.00
4. Net profit (“-” for net loss) 1,923,938,275.00 2,158,352,798.00
4.1 Net profit from continuing operations (“-” for net loss) 1,923,938,275.00 2,158,352,798.00
4.2 Net profit from discontinued operations (“-” for net loss) 0.00 0.00
5. Other comprehensive income, net of tax 183,188,800.00 202,267,125.00
5.1 Items that will not be reclassified to profit or loss 183,188,800.00 26,907,348.00
5.1.1 Changes caused by remeasurements on defined benefit
0.00 0.00
schemes
5.1.2 Other comprehensive income that will not be
181,319,169.00 0.00
reclassified to profit or loss under the equity method
5.1.3 Changes in the fair value of investments in other
1,869,631.00 26,907,348.00
equity instruments
5.1.4 Changes in the fair value arising from changes in own
0.00 0.00
credit risk
5.1.5 Other 0.00 0.00
5.2 Items that will be reclassified to profit or loss 0.00 175,359,777.00
5.2.1 Other comprehensive income that will be reclassified
0.00 175,359,777.00
to profit or loss under the equity method
5.2.2 Changes in the fair value of other debt investments 0.00 0.00
5.2.3 Other comprehensive income arising from the
0.00 0.00
reclassification of financial assets
5.2.4 Credit impairment allowance for other debt
0.00 0.00
investments
5.2.5 Reserve for cash flow hedges 0.00 0.00
5.2.6 Differences arising from the translation of foreign
0.00 0.00
currency-denominated financial statements
5.2.7 Other 0.00 0.00
6. Total comprehensive income 2,107,127,075.00 2,360,619,923.00
7. Earnings per share
7.1 Basic earnings per share 0.0452 0.0620
7.2 Diluted earnings per share 0.0452 0.0620
7. Consolidated Cash Flow Statement for Q1~Q3
Unit: RMB
35
BOE Technology Group Co., Ltd. Third Quarterly Report 2020
Item Q1~Q3 2020 Q1~Q3 2019
1. Cash flows from operating activities:
Proceeds from sale of commodities and rendering of services 106,805,169,135.00 90,795,247,871.00
Net increase in customer deposits and deposits from other
0.00 0.00
banks and financial institutions
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
Interest, fees and commissions received 0.00 0.00
Net increase in loans from other banks and financial
0.00 0.00
institutions
Net increase in proceeds from repurchase transactions 0.00 0.00
Net proceeds from acting trading of securities 0.00 0.00
Tax and levy rebates 8,233,724,253.00 5,540,874,958.00
Cash generated from other operating activities 4,032,552,930.00 5,004,310,777.00
Subtotal of cash generated from operating activities 119,071,446,318.00 101,340,433,606.00
Payments for commodities and services 80,674,328,209.00 68,399,418,986.00
Net increase in loans and advances to customers 0.00 0.00
Net increase in deposits in the central bank and other banks
0.00 0.00
and financial institutions
Payments for claims on original insurance contracts 0.00 0.00
Net increase in loans to other banks and financial institutions 0.00 0.00
Interest, fees and commissions paid 0.00 0.00
Policy dividends paid 0.00 0.00
Cash paid to and for employees 8,403,254,858.00 8,056,691,079.00
Taxes and levies paid 2,365,112,815.00 2,790,851,592.00
Cash used in other operating activities 4,160,236,028.00 5,566,482,540.00
Subtotal of cash used in operating activities 95,602,931,910.00 84,813,444,197.00
Net cash generated from/used in operating activities 23,468,514,408.00 16,526,989,409.00
2. Cash flows from investing activities:
Proceeds from disinvestment 17,966,529,908.00 26,937,918,625.00
Return on investment 104,230,363.00 341,466,867.00
Net proceeds from the disposal of fixed assets, intangible
23,052,445.00 33,905,351.00
assets and other long-lived assets
36
BOE Technology Group Co., Ltd. Third Quarterly Report 2020
Net proceeds from the disposal of subsidiaries and other
0.00 0.00
business units
Cash generated from other investing activities 280,538,504.00 1,110,244,320.00
Subtotal of cash generated from investing activities 18,374,351,220.00 28,423,535,163.00
Payments for the acquisition of fixed assets, intangible assets
31,446,427,395.00 37,854,619,360.00
and other long-lived assets
Payments for investments 14,555,472,385.00 24,285,645,875.00
Net increase in pledged loans granted 0.00 0.00
Net payments for the acquisition of subsidiaries and other
0.00 0.00
business units
Cash used in other investing activities 1,842,907,614.00 81,359,067.00
Subtotal of cash used in investing activities 47,844,807,394.00 62,221,624,302.00
Net cash generated from/used in investing activities -29,470,456,174.00 -33,798,089,139.00
3. Cash flows from financing activities:
Capital contributions received 7,278,817,913.00 9,396,220,000.00
Including: Capital contributions by non-controlling interests
7,278,817,913.00 9,396,220,000.00
to subsidiaries
Borrowings received 35,951,776,137.00 37,923,426,290.00
Cash generated from other financing activities 1,648,733,929.00 357,634,475.00
Subtotal of cash generated from financing activities 44,879,327,979.00 47,677,280,765.00
Repayment of borrowings 25,245,672,400.00 25,867,488,701.00
Interest and dividends paid 4,927,891,915.00 5,442,071,700.00
Including: Dividends paid by subsidiaries to non-controlling
86,783,362.00 36,394,420.00
interests
Cash used in other financing activities 2,470,947,772.00 259,564,952.00
Subtotal of cash used in financing activities 32,644,512,087.00 31,569,125,353.00
Net cash generated from/used in financing activities 12,234,815,892.00 16,108,155,412.00
4. Effect of foreign exchange rates changes on cash and cash
-706,047,476.00 457,359,826.00
equivalents
5. Net increase in cash and cash equivalents 5,526,826,650.00 -705,584,492.00
Add: Cash and cash equivalents, beginning of the period 50,270,321,573.00 43,350,696,520.00
6. Cash and cash equivalents, end of the period 55,797,148,223.00 42,645,112,028.00
8. Cash Flow Statement of the Company as the Parent for Q1~Q3
Unit: RMB
Item Q1~Q3 2020 Q1~Q3 2019
1. Cash flows from operating activities:
37
BOE Technology Group Co., Ltd. Third Quarterly Report 2020
Proceeds from sale of commodities and rendering of services 2,570,800,568.00 3,672,204,949.00
Tax and levy rebates 0.00 0.00
Cash generated from other operating activities 447,628,612.00 348,439,553.00
Subtotal of cash generated from operating activities 3,018,429,180.00 4,020,644,502.00
Payments for commodities and services 2,508,174,321.00 2,417,299,531.00
Cash paid to and for employees 697,128,994.00 911,369,102.00
Taxes and levies paid 258,568,704.00 662,913,180.00
Cash used in other operating activities 462,513,922.00 430,459,939.00
Subtotal of cash used in operating activities 3,926,385,941.00 4,422,041,752.00
Net cash generated from/used in operating activities -907,956,761.00 -401,397,250.00
2. Cash flows from investing activities:
Proceeds from disinvestment 264,150,877.00 366,360,000.00
Return on investment 870,939,834.00 638,155,513.00
Net proceeds from the disposal of fixed assets, intangible
12,261.00 740.00
assets and other long-lived assets
Net proceeds from the disposal of subsidiaries and other
0.00 0.00
business units
Cash generated from other investing activities 155,586,683.00 568,637,974.00
Subtotal of cash generated from investing activities 1,290,689,655.00 1,573,154,227.00
Payments for the acquisition of fixed assets, intangible assets
302,876,946.00 986,386,306.00
and other long-lived assets
Payments for investments 13,679,441,750.00 6,011,944,700.00
Net payments for the acquisition of subsidiaries and other
0.00 0.00
business units
Cash used in other investing activities 472,666,847.00 2,317,224,712.00
Subtotal of cash used in investing activities 14,454,985,543.00 9,315,555,718.00
Net cash generated from/used in investing activities -13,164,295,888.00 -7,742,401,491.00
3. Cash flows from financing activities:
Capital contributions received 0.00 0.00
Borrowings received 14,220,000,000.00 15,791,142,361.00
Cash generated from other financing activities 8,285,507,261.00 9,161,162,232.00
Subtotal of cash generated from financing activities 22,505,507,261.00 24,952,304,593.00
Repayment of borrowings 6,840,000,000.00 14,143,195,075.00
Interest and dividends paid 1,339,660,328.00 1,912,890,527.00
Cash used in other financing activities 2,184,060,000.00 3,201,796,768.00
Subtotal of cash used in financing activities 10,363,720,328.00 19,257,882,370.00
38
BOE Technology Group Co., Ltd. Third Quarterly Report 2020
Net cash generated from/used in financing activities 12,141,786,933.00 5,694,422,223.00
4. Effect of foreign exchange rates changes on cash and cash
5,417,520.00 1,907,767.00
equivalents
5. Net increase in cash and cash equivalents -1,925,048,196.00 -2,447,468,751.00
Add: Cash and cash equivalents, beginning of the period 3,680,770,048.00 3,829,814,050.00
6. Cash and cash equivalents, end of the period 1,755,721,852.00 1,382,345,299.00
II Adjustments to the Financial Statements
1. Adjustments to the Financial Statements at the Beginning of the First Execution Year (2020) of the New
Accounting Standards Governing Revenue and Leases
√ Applicable □ Not applicable
Whether the Company needs to adjust the items in balance sheet at the beginning of the year
√ Yes □ No
Consolidated Balance Sheet
Unit: RMB
Item 31 December 2019 1 January 2020 Adjusted
Current assets:
Monetary assets 56,972,723,239.00 56,972,723,239.00 0.00
Settlement reserve 0.00 0.00 0.00
Loans to other banks and
0.00 0.00 0.00
financial institutions
Held-for-trading financial
5,809,184,994.00 5,809,184,994.00 0.00
assets
Derivative financial assets 0.00 0.00 0.00
Notes receivable 331,145,492.00 331,145,492.00 0.00
Accounts receivable 18,135,687,806.00 18,170,971,650.00 35,283,844.00
Receivables financing 0.00 0.00 0.00
Prepayments 626,985,706.00 626,985,706.00 0.00
Premiums receivable 0.00 0.00 0.00
Reinsurance receivables 0.00 0.00 0.00
Receivable reinsurance
0.00 0.00 0.00
contract reserve
Other receivables 706,171,112.00 706,171,112.00 0.00
Including: Interest
215,977,831.00 215,977,831.00 0.00
receivable
Dividends 0.00 0.00 0.00
39
BOE Technology Group Co., Ltd. Third Quarterly Report 2020
receivable
Financial assets purchased
0.00 0.00 0.00
under resale agreements
Inventories 12,396,194,762.00 12,396,194,762.00 0.00
Contract assets 0.00 0.00 0.00
Assets held for sale 173,910,820.00 173,910,820.00 0.00
Current portion of non-current
0.00 0.00 0.00
assets
Other current assets 9,296,637,067.00 9,330,892,119.00 34,255,052.00
Total current assets 104,448,640,998.00 104,518,179,894.00 69,538,896.00
Non-current assets:
Loans and advances to
0.00 0.00 0.00
customers
Debt investments 0.00 0.00 0.00
Other debt investments 0.00 0.00 0.00
Long-term receivables 0.00 0.00 0.00
Long-term equity investments 2,718,037,934.00 2,718,037,934.00 0.00
Investments in other equity
632,076,647.00 632,076,647.00 0.00
instruments
Other non-current financial
0.00 0.00 0.00
assets
Investment property 1,241,242,850.00 1,241,242,850.00 0.00
Fixed assets 125,786,241,938.00 125,786,241,938.00 0.00
Construction in progress 87,376,782,527.00 87,376,782,527.00 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 0.00 0.00 0.00
Intangible assets 7,416,416,829.00 7,416,416,829.00 0.00
Development costs 0.00 0.00 0.00
Goodwill 707,603,856.00 707,603,856.00 0.00
Long-term prepaid expense 345,424,409.00 345,424,409.00 0.00
Deferred income tax assets 248,153,761.00 182,880,117.00 -65,273,644.00
Other non-current assets 9,491,581,559.00 9,491,581,559.00 0.00
Total non-current assets 235,963,562,310.00 235,898,288,666.00 -65,273,644.00
Total assets 340,412,203,308.00 340,416,468,560.00 4,265,252.00
Current liabilities:
40
BOE Technology Group Co., Ltd. Third Quarterly Report 2020
Short-term borrowings 6,366,717,121.00 6,366,717,121.00 0.00
Borrowings from the central
0.00 0.00 0.00
bank
Loans from other banks and
0.00 0.00 0.00
financial institutions
Held-for-trading financial
0.00 0.00 0.00
liabilities
Derivative financial liabilities 0.00 0.00 0.00
Notes payable 2,028,917,980.00 2,028,917,980.00 0.00
Accounts payable 21,183,567,553.00 21,217,822,605.00 34,255,052.00
Advances from customers 1,260,732,785.00 297,330,727.00 -963,402,058.00
Contract liabilities 0.00 963,402,058.00 963,402,058.00
Financial assets sold under
0.00 0.00 0.00
repurchase agreements
Customer deposits and deposits
from other banks and financial 0.00 0.00 0.00
institutions
Payables for acting trading of
0.00 0.00 0.00
securities
Payables for underwriting of
0.00 0.00 0.00
securities
Employee benefits payable 2,373,745,454.00 2,373,745,454.00 0.00
Taxes and levies payable 730,996,129.00 730,996,129.00 0.00
Other payables 24,570,589,610.00 24,570,589,610.00 0.00
Including: Interest payable 721,325,540.00 721,325,540.00 0.00
Dividends
14,568,242.00 14,568,242.00 0.00
payable
Fees and commissions payable 0.00 0.00 0.00
Reinsurance payables 0.00 0.00 0.00
Liabilities directly associated
0.00 0.00 0.00
with assets held for sale
Current portion of non-current
18,849,281,019.00 18,849,281,019.00 0.00
liabilities
Other current liabilities 1,013,738,515.00 1,049,022,359.00 35,283,844.00
Total current liabilities 78,378,286,166.00 78,447,825,062.00 69,538,896.00
Non-current liabilities:
Insurance contract reserve 0.00 0.00 0.00
Long-term borrowings 107,730,595,615.00 107,730,595,615.00 0.00
41
BOE Technology Group Co., Ltd. Third Quarterly Report 2020
Bonds payable 387,878,384.00 387,878,384.00 0.00
Including: Preference shares 0.00 0.00 0.00
Perpetual bonds 0.00 0.00 0.00
Lease liabilities 0.00 0.00 0.00
Long-term payables 984,520,824.00 984,520,824.00 0.00
Long-term employee benefits
0.00 0.00 0.00
payable
Provisions 16,457,010.00 16,457,010.00 0.00
Deferred income 2,204,400,566.00 2,204,400,566.00 0.00
Deferred income tax liabilities 1,451,825,357.00 1,386,551,713.00 -65,273,644.00
Other non-current liabilities 8,200,542,412.00 8,200,542,412.00 0.00
Total non-current liabilities 120,976,220,168.00 120,910,946,524.00 -65,273,644.00
Total liabilities 199,354,506,334.00 199,358,771,586.00 4,265,252.00
Owners’ equity:
Share capital 34,798,398,763.00 34,798,398,763.00 0.00
Other equity instruments 8,013,156,853.00 8,013,156,853.00 0.00
Including: Preference shares 0.00 0.00 0.00
Perpetual bonds 8,013,156,853.00 8,013,156,853.00 0.00
Capital reserves 38,353,242,364.00 38,353,242,364.00 0.00
Less: Treasury stock 0.00 0.00 0.00
Other comprehensive income -4,566,639.00 -4,566,639.00 0.00
Specific reserve 0.00 0.00 0.00
Surplus reserves 1,516,139,709.00 2,050,045,823.00 533,906,114.00
General reserve 0.00 0.00 0.00
Retained earnings 12,381,758,005.00 11,847,851,891.00 -533,906,114.00
Total equity attributable to
owners of the Company as the 95,058,129,055.00 95,058,129,055.00 0.00
parent
Non-controlling interests 45,999,567,919.00 45,999,567,919.00 0.00
Total owners’ equity 141,057,696,974.00 141,057,696,974.00 0.00
Total liabilities and owners’
340,412,203,308.00 340,416,468,560.00 4,265,252.00
equity
Note for adjustment:
The Group has implemented the Accounting Standards for Business Enterprises No. 14 - Revenue revised in 2017 from 1 January
2020, and adjusted relevant items of the financial statements at the beginning of the first execution year according to the
requirements of the standards.
42
BOE Technology Group Co., Ltd. Third Quarterly Report 2020
Balance Sheet of the Company as the Parent
Unit: RMB
Item 31 December 2019 1 January 2020 Adjusted
Current assets:
Monetary assets 3,680,770,048.00 3,680,770,048.00 0.00
Held-for-trading financial
0.00 0.00 0.00
assets
Derivative financial assets 0.00 0.00 0.00
Notes receivable 84,230,531.00 84,230,531.00 0.00
Accounts receivable 646,533,115.00 4,659,505,636.00 4,012,972,521.00
Receivables financing 0.00 0.00 0.00
Prepayments 77,682,682.00 77,682,682.00 0.00
Other receivables 4,827,398,094.00 4,827,398,094.00 0.00
Including: Interest
11,884,080.00 11,884,080.00 0.00
receivable
Dividends
941,634,611.00 941,634,611.00 0.00
receivable
Inventories 13,935,401.00 13,935,401.00 0.00
Contract assets 0.00 0.00 0.00
Assets held for sale 0.00 0.00 0.00
Current portion of
0.00 0.00 0.00
non-current assets
Other current assets 109,497,897.00 109,497,897.00 0.00
Total current assets 9,440,047,768.00 13,453,020,289.00 4,012,972,521.00
Non-current assets:
Debt investments 0.00 0.00 0.00
Other debt investments 0.00 0.00 0.00
Long-term receivables 0.00 0.00 0.00
Long-term equity
159,389,864,760.00 159,389,864,760.00 0.00
investments
Investments in other equity
79,405,724.00 79,405,724.00 0.00
instruments
Other non-current financial
0.00 0.00 0.00
assets
Investment property 280,525,802.00 280,525,802.00 0.00
Fixed assets 949,104,308.00 949,104,308.00 0.00
Construction in progress 358,933,667.00 358,933,667.00 0.00
43
BOE Technology Group Co., Ltd. Third Quarterly Report 2020
Productive living assets 0.00 0.00 0.00
Oil and gas assets 0.00 0.00 0.00
Right-of-use assets 0.00 0.00 0.00
Intangible assets 1,493,632,264.00 1,493,632,264.00 0.00
Development costs 0.00 0.00 0.00
Goodwill 0.00 0.00 0.00
Long-term prepaid
109,216,398.00 109,216,398.00 0.00
expense
Deferred income tax assets 360,268,466.00 0.00 -360,268,466.00
Other non-current assets 162,516,190.00 162,516,190.00 0.00
Total non-current assets 163,183,467,579.00 162,823,199,113.00 -360,268,466.00
Total assets 172,623,515,347.00 176,276,219,402.00 3,652,704,055.00
Current liabilities:
Short-term borrowings 1,220,000,000.00 1,220,000,000.00 0.00
Held-for-trading financial
0.00 0.00 0.00
liabilities
Derivative financial
0.00 0.00 0.00
liabilities
Notes payable 0.00 0.00 0.00
Accounts payable 27,919,341.00 27,919,341.00 0.00
Advances from customers 2,117,568,995.00 -150,706,885.00 -2,268,275,880.00
Contract liabilities 0.00 0.00 0.00
Employee benefits payable 252,206,075.00 252,206,075.00 0.00
Taxes and levies payable 107,287,957.00 107,287,957.00 0.00
Other payables 5,260,470,974.00 5,260,470,974.00 0.00
Including: Interest
95,859,219.00 95,859,219.00 0.00
payable
Dividends
6,451,171.00 6,451,171.00 0.00
payable
Liabilities directly
associated with assets held 0.00 0.00 0.00
for sale
Current portion of
5,490,440,787.00 5,490,440,787.00 0.00
non-current liabilities
Other current liabilities 1,423,133.00 1,423,133.00 0.00
Total current liabilities 14,477,317,262.00 12,209,041,382.00 -2,268,275,880.00
Non-current liabilities:
44
BOE Technology Group Co., Ltd. Third Quarterly Report 2020
Long-term borrowings 33,310,701,574.00 33,310,701,574.00 0.00
Bonds payable 0.00 0.00 0.00
Including: Preference
0.00 0.00 0.00
shares
Perpetual
0.00 0.00 0.00
bonds
Lease liabilities 0.00 0.00 0.00
Long-term payables 0.00 0.00 0.00
Long-term employee
0.00 0.00 0.00
benefits payable
Provisions 0.00 0.00 0.00
Deferred income 4,627,393,256.00 4,627,393,256.00 0.00
Deferred income tax
0.00 581,918,794.00 581,918,794.00
liabilities
Other non-current
33,297,240,830.00 33,297,240,830.00 0.00
liabilities
Total non-current liabilities 71,235,335,660.00 71,817,254,454.00 581,918,794.00
Total liabilities 85,712,652,922.00 84,026,295,836.00 -1,686,357,086.00
Owners’ equity:
Share capital 34,798,398,763.00 34,798,398,763.00 0.00
Other equity instruments 8,013,156,853.00 8,013,156,853.00 0.00
Including: Preference
0.00 0.00 0.00
shares
Perpetual
8,013,156,853.00 8,013,156,853.00 0.00
bonds
Capital reserves 37,608,039,685.00 37,608,039,685.00 0.00
Less: Treasury stock 0.00 0.00 0.00
Other comprehensive
193,638,576.00 193,638,576.00 0.00
income
Specific reserve 0.00 0.00 0.00
Surplus reserves 1,516,139,709.00 2,050,045,823.00 533,906,114.00
Retained earnings 4,781,488,839.00 9,586,643,866.00 4,805,155,027.00
Total owners’ equity 86,910,862,425.00 92,249,923,566.00 5,339,061,141.00
Total liabilities and owners’
172,623,515,347.00 176,276,219,402.00 3,652,704,055.00
equity
Note for adjustment:
The Group has implemented the Accounting Standards for Business Enterprises No. 14 - Revenue revised in 2017 from 1 January
2020, and adjusted relevant items of the financial statements at the beginning of the first execution year according to the
requirements of the standards.
45
BOE Technology Group Co., Ltd. Third Quarterly Report 2020
2. Retrospective Adjustments to the Comparative Data of Prior Periods due to the First Execution in 2020
of the New Accounting Standards Governing Revenue and 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): Chen Yanshun
Date of the Board’s approval of this Report: 29 October 2020
46
