FIRST QUARTERLY REPORT 2021
April 2021
BOE Technology Group Co., Ltd. First Quarterly Report 2021
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, 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 Quarterly Report 2021
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
Reason for any retrospectively adjustment or restatement
Other reasons
Q1 2020 Change (%)
Item Q1 2021
Before After After
Operating revenue (RMB) 49,655,379,519.00 25,879,940,117.00 23,887,380,060.00 107.87%
Net profit attributable to the listed
5,182,037,171.00 566,676,460.00 566,676,460.00 814.46%
company’s shareholders (RMB)
Net profit attributable to the listed
company’s shareholders before 4,484,934,082.00 -502,352,271.00 -502,352,271.00 -
exceptional items (RMB)
Net cash generated from/used in
14,522,832,708.00 5,223,671,919.00 5,223,671,919.00 178.02%
operating activities (RMB)
Basic earnings per share (RMB/share) 0.147 0.014 0.014 950.00%
Diluted earnings per share (RMB/share) 0.147 0.014 0.014 950.00%
Weighted average return on equity (%) 5.51% 0.50% 0.50% 5.01%
31 December 2020 Change (%)
Item 31 March 2021
Before After After
Total assets (RMB) 427,658,157,566.00 424,256,806,331.00 424,256,806,331.00 0.80%
Equity attributable to the listed
112,362,224,896.00 103,276,766,835.00 103,276,766,835.00 8.80%
company’s shareholders (RMB)
Other reasons
The operating revenue for Q1 2020 was represented in accordance with reviewed data, which caused no influence on other financial
indicators.
Exceptional gains and losses:
√ Applicable □ Not applicable
Unit: RMB
Item Q1 2021 Note
Gain or loss on disposal of non-current assets (inclusive of impairment allowance write-offs) 149,147,539.00 N/A
Tax rebates, reductions and exemptions with ultra vires approval or in lack of duly approved document 0.00 N/A
Government subsidies charged to current profit and loss (exclusive of government subsidies given in 627,394,493.00 N/A
3
BOE Technology Group Co., Ltd. First Quarterly Report 2021
the Company’s ordinary course of business at fixed quotas or amounts as per government’s uniform
standards )
Capital occupation charges on non-financial enterprises that are charged to current gains and losses 0.00 N/A
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 of identifiable net 0.00 N/A
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 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 prices 0.00 N/A
Current gains and losses on subsidiaries acquired through business mergers under same control from
0.00 N/A
period-beginning to merger dates, net
Gains and losses on contingencies that do not arise in the Company’s ordinary course of business 0.00 N/A
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
28,421,688.00 N/A
derivative financial assets and liabilities, and other creditors’ investment (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 are tested
2,844,705.00 N/A
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 measurement is
0.00 N/A
carried out using fair value method
Effects of all adjustments required by taxation, accounting and other applicable laws and regulations
0.00 N/A
on current gains and losses
Income from charges on entrusted management 0.00 N/A
Non-operating income and expense other than above 18,665,471.00 N/A
Other gains and losses that meet definition of nonrecurring gain/loss 0.00 N/A
Less: Income tax effects 81,244,762.00 N/A
Non-controlling interests effects (net of tax) 48,126,045.00 N/A
Total 697,103,089.00 --
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.
4
BOE Technology Group Co., Ltd. First Quarterly Report 2021
II Total Number of Shareholders and Holdings of Top 10 Shareholders at 31 March 2021
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
1,329,925 (including 1,292,791 A-shareholders and 37,134 B-shareholders)
period-end
Top 10 shareholders
Shares in pledge or
Shareholding Restricted
Name of shareholder Nature of shareholder Total shares held frozen
percentage shares held
Status Shares
Beijing State-owned Capital Operation State-owned legal
11.68% 4,063,333,333 0 N/A 0
and Management Center person
Hong Kong Securities Clearing
Foreign legal person 5.90% 2,051,846,141 0 N/A 0
Company Ltd.
Beijing BOE Investment & State-owned legal
2.36% 822,092,180 0 N/A 0
Development Co., Ltd. person
State-owned legal
Hefei Jianxiang Investment Co., Ltd. 1.91% 666,195,772 0 N/A 0
person
Chongqing Ezcapital Opto-electronic State-owned legal
1.33% 463,816,446 0 N/A 0
Industry Investment Co., Ltd. person
State-owned legal
Hefei Jianxin Investment Co., Ltd. 1.30% 452,016,095 0 N/A 0
person
Beijing Yizhuang Investment Holdings State-owned legal
1.12% 388,827,757 0 N/A 0
Co., Ltd person
China Construction Bank-GF
Technology Pioneer Mixed Type Other 0.98% 341,531,677 0 N/A 0
Securities Investment Fund
State-owned legal
Beijing Electronics Holdings Co., Ltd. 0.79% 273,735,583 0 N/A 0
person
Industrial and Commercial Bank of
China-GF Double Engines Upgrade Other 0.72% 249,000,000 0 N/A 0
Mixed Type Securities Investment Fund
Top 10 unrestricted shareholders
Shares by type
Name of shareholder Unrestricted shares held
Type Shares
Beijing State-owned Capital Operation
4,063,333,333 RMB ordinary share 4,063,333,333
and Management Center
5
BOE Technology Group Co., Ltd. First Quarterly Report 2021
Hong Kong Securities Clearing
2,051,846,141 RMB ordinary share 2,051,846,141
Company Ltd.
Beijing BOE Investment &
822,092,180 RMB ordinary share 822,092,180
Development Co., Ltd.
Hefei Jianxiang Investment Co., Ltd. 666,195,772 RMB ordinary share 666,195,772
Chongqing Ezcapital Opto-electronic
463,816,446 RMB ordinary share 463,816,446
Industry Investment Co., Ltd.
Hefei Jianxin Investment Co., Ltd. 452,016,095 RMB ordinary share 452,016,095
Beijing Yizhuang Investment Holdings
388,827,757 RMB ordinary share 388,827,757
Co., Ltd
China Construction Bank-GF
Technology Pioneer Mixed Type 341,531,677 RMB ordinary share 341,531,677
Securities Investment Fund
Beijing Electronics Holdings Co., Ltd. 273,735,583 RMB ordinary share 273,735,583
Industrial and Commercial Bank of
China-GF Double Engines Upgrade 249,000,000 RMB ordinary share 249,000,000
Mixed Type Securities Investment Fund
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 Ezcapital 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 Co.,
Related or acting-in-concert parties Ltd. when executing the voting rights of the shareholders.
among the shareholders above 4. After the non-public issuing of the Company in 2014, Beijing State-owned Capital
Operation and Management Center handed over 70% of the shares directly held by it to
Beijing Electronics Holdings Co., Ltd. for management through Stock Management
Protocol, and Beijing Electronics Holdings Co., Ltd. gained the incidental shareholders’
rights except for disposing right and usufruct of the shares, of which the rest 30% voting
right maintained unanimous with Beijing Electronics Holdings Co., Ltd. through the
agreement according to Implementation Protocol of Voting Right.
5. Except for 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 The shares held by Beijing Yizhuang Investment Holdings Co., Ltd. in the Company
in securities margin trading (if any) decreased by 31,709,700 shares due to engaging in securities financing.
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
6
BOE Technology Group Co., Ltd. First Quarterly Report 2021
No such cases in the Reporting Period.
2. Number of Preferred Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
7
BOE Technology Group Co., Ltd. First Quarterly Report 2021
Part III Significant Events
I Changes in Key Financial Statement Line Items and Explanation of why
√ Applicable □ Not applicable
1. Operating revenue rose 108% during Q1 2021 compared to Q1 2020, primarily driven by the rising prices of primary products, the
release of new production capacity, and changes to the consolidation scope in the Reporting Period.
2. Cost of sales rose 77% during Q1 2021 compared to Q1 2020, primarily driven by the expanding operating revenue.
3. Selling expense rose 43% during Q1 2021 compared to Q1 2020, primarily driven by the expanding operating revenue.
4. Administrative expense rose 59% during Q1 2021 compared to Q1 2020, primarily driven by the expanding operating revenue.
5. R&D expense rose 46% during Q1 2021 compared to Q1 2020, primarily driven by greater R&D investments.
6. Financial expenses rose 44% during Q1 2021 compared to Q1 2020, primarily driven by the new projects were transferred into
operation，and changes to the consolidation scope in the Reporting Period.
7. Asset impairment loss declined 105% during Q1 2021 compared to Q1 2020, primarily driven by a decrease in the inventory
valuation allowance according to the lower of cost and net realizable value in the Reporting Period.
8. Other income declined 45% during Q1 2021 compared to Q1 2020, primarily driven by a decrease in government grants in the
Reporting Period.
9. Income tax expense rose 362% during Q1 2021 compared to Q1 2020, primarily driven by an increase in earnings in the Reporting
Period.
10. Accounts receivable as at 31 March 2021 rose 31% compared to 31 December 2020, primarily driven by an increase in amounts
due from customers with expanding operating revenue in the Reporting Period.
11. Net cash generated from operating activities rose 178% during Q1 2021 compared to Q1 2020, primarily driven by an increase in
operating profit with a larger business size.
12. Cash used in investing activities rose 68% during Q1 2021 compared to Q1 2020, primarily driven by the repurchase of
non-controlling interests and an increase in expenses on construction of new projects in the Reporting Period.
II Progress, Influence and Solutions with regard to 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
8
BOE Technology Group Co., Ltd. First Quarterly Report 2021
March 2020 to 19 March 2020, the issuing scale of RMB2 billion and the bonds’ ultimate nominal interest of 3.54%. The Company
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%. The Company disclosed 2021 "20BOEY1" Interest Payment
Announcement (Announcement No. 2021-016) on 23 February 2021. BOE Public Issuance of Renewable Corporate Bonds (to
Qualified Investors) (the First Issue) (epidemic prevention and control bonds) in 2020 was one year old until 27 February 2021.
According to the regulations, interest will be paid once a year during the interest-bearing period. The interest payment plan is
RMB36.40 (including tax) per 10 bonds. The Company disclosed 2021 "20BOEY2" Interest Payment Announcement (Announcement
No. 2021-018) on 17 March 2021. BOE Public Issuance of Renewable Corporate Bonds (to Qualified Investors) (the Second Issue)
(pandemic prevention and control bonds) in 2020 was one year old until 18 March 2021. According to the regulations, interest will
be paid once a year during the interest-bearing period. The interest payment plan is RMB35.40 (including tax) per 10 bonds. The
Company disclosed 2020 "20BOEY3" Interest Payment Announcement (Announcement No. 2021-035) on 23 April 2021. BOE
Public Issuance of Renewable Corporate Bonds (to Qualified Investors) (the Third Issue) in 2020 was one year old until 27 April
2021. According to the regulations, interest will be paid once a year during the interest-bearing period. The interest payment plan is
RMB35.00 (including tax) per 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
9
BOE Technology Group Co., Ltd. First Quarterly Report 2021
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, 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. The Supreme People’s Court
made the judgment that the case was treated as that the appellant LeTV Holdings (Beijing) Co., Ltd. automatically withdrew the
appeal on 8 July 2020. And the judgment of the first instance will take effect since the date when the written order is served. BOE
Technology (HK) Limited has submitted the Application for Execution to Beijing High People’s Court and the court has accepted the
execution application. On 24 December 2020, the Beijing No. 3 Intermediate People's Court made an Application for Execution that
LeTV Mobile Intelligent Information Technology (Beijing) Co., Ltd, and LeTV Holdings (Beijing) Co., Ltd. had been included in the
list of defaulters, and the court ruled to terminate this enforcement because the defaulters had no property available for execution.
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 16 January 2021, the Company disclosed the Announcement on the Resolution of the 21st Meeting of the 9th Board of Directors
(Announcement No.: 2021-001) and the Plan of Private Placement of A-Shares in 2021. According to the disclosure, the Company
intended to privately issue A-shares for no more than 35 special investors including Beijing Jingguorui State-owned Enterprise
Reform and Development Fund (Limited Partnership) for raised funds with net amount not exceeding RMB20 billion. The raised
funds will be used to acquire 24.06% equity in Wuhan BOE Optoelectronics Technology Co., Ltd., increase the capital in Chongqing
BOE Display Technology Co., Ltd. & construct the project of its 6G AMOLED Production Line, increase the capital in Yunnan
Chuangshijie Optoelectronics Technology Co., Ltd. & construct the project of 12-inch Si-based OLED, increase the capital in
Chengdu BOE Hospital Co., Ltd. & construct the project of Chengdu BOE Hospital, repay the loan of Fuzhou Urban Construction
Investment Group Co., Ltd., and supplement the working capital. On 10 February 2021, the Company disclosed the Announcement
on Receiving the Reply of SASAC regarding Private Placement of A-Shares in 2021 (Announcement No.: 2021-014). According to
the disclosure, the Company received the notice from its actual controller Beijing Electronics Holding Co., Ltd. saying the latter had
received the Reply on Private Placement of Shares by BOE Technology Group Co., Ltd. (JGZCQ[2021]No. 5) from State-owned
Assets Supervision and Administration Commission of People’s Government of Beijing Municipality who agreed the overall plan of
this private placement of shares not exceeding 6,959,679,752 shares in principle. On 1 April 2021, the Company disclosed the
Announcement on Applying the Acceptance of China Securities Regulatory Commission (CSRC) regarding the Private Placement of
A-Shares in 2021 (Announcement No.: 2021-021). According to the disclosure, CSRC inspected the application materials regarding
the private placement of A-Shares by listed company submitted by the Company in conformity with legal provisions and decided to
accept the administrative license application. On 12 April 2021, the Company disclosed the Announcement on Receiving the Notice
of First Review Feedback on Administrative Licensing Projects from the China Securities Regulatory Commission (CSRC)
(Announcement No.: 2021-023). According to the disclosure, the CSRC reviewed the administrative licensing application materials
submitted by the Company regarding the Approval of BOE Technology Group Co., Ltd. on the Private Placement of Shares
(A-Shares in the Main Board and SME Board, and B-Shares) by Listed Companies, required the Company and related agency to
provide written explanations and interpretations on relevant issues and to submit a written reply to the administrative license
acceptance department of the CSRC within 30 days. On 27 April 2021, the Company disclosed the Announcement on Delayed Reply
10
BOE Technology Group Co., Ltd. First Quarterly Report 2021
on the Notice of First Review Feedback on Administrative Licensing Projects from the China Securities Regulatory Commission
(CSRC) (Announcement No.: 2021-036). According to the disclosure, it is estimated that the Company will be unable to submit a
written reply to the CSRC within 30 days. After the prudent communication with related agency, the Company has submitted the
delayed reply application. And the Company will submit a written reply and application files with updated financial data before 8
June 2021 with related agency and perform the information disclosure obligation in time.
4. On 23 March 2021, the Company disclosed the Announcement on the Resolution of the 24th Meeting of the 9th Board of Directors
(Announcement No.: 2021-019). According to the disclosure, Mr. Zhang Yu was appointed as Vice President, CHRO and
Professional Manager by the Board with his tenure from the approval date by the Board to the expiration of the tenure of the 9th
Board of Director; and Ms. Su Xuefei was appointed as Securities Affairs Representative with her tenure from the approval date by
the Board to the expiration of the tenure of the 9th Board of Directors.
5. On 13 April 2021, the Company disclosed the Announcement on the Resolution of the 25th Meeting of the 9th Board of Directors
(Announcement No.: 2021-0xx) and the Announcement on the Departure of an Independent Director at Tenure Expiration and the
Selection of a Replacement Independent Director (Announcement No.: 2021-0xx). According to the disclosure, Mr. Wang Huacheng
applied for departing from his position as Independent Director of the Company and other positions in related committees under the
Board due to the expiration of his tenure as Independent Director. At the 25th Meeting of the 9th Board of Directors, the Company
considered and approved the Proposal on Selecting Mr. Zhang Xinmin as an Independent Director of the 9 th Board of Directors, and
nominated Mr. Zhang Xinmin as a candidate for Independent Director of the 9th Board of Directors.
Index to disclosure
Overview of significant events Disclosure date website for interim
report
Announcement on Being Transferred Some Equity of Mianyang BOE
27 January 2021 www.cninfo.com.cn
Optoelectronics Technology Co., Ltd.
Announcement on Investing the Production Line Expansion of Advanced
23 March 2021 www.cninfo.com.cn
Generation TFT-LCD by Wuhan BOE Optoelectronics Technology Co., Ltd.
Progress of any share repurchases:
□ Applicable √ Not applicable
Progress of any reduction of the repurchased shares through centralized bidding:
□ Applicable √ Not applicable
11
BOE Technology Group Co., Ltd. First Quarterly Report 2021
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
Date of
Type of
Commitment Promisor Details of commitment commitment Term of commitment Fulfillment
commitment
making
Commitments made in share - - - -
- -
reform
Commitments made in - - - - - -
acquisition documents or
shareholding alteration
documents
Commitments made in time of - - - - - -
asset restructuring
Commitments made in time of - - - - - -
IPO or refinancing
Equity incentive commitments - - - - - -
The Chairman of the In accordance with the Announcement on the Commitments of
Board: Mr. Chen Yanshun not Reducing the Shareholding by Some Directors, Supervisors During the term as
Vice Chairman of the and Senior Management (No.: 2020-001) disclosed by the director, supervisor or
Board: Mr. Liu Xiaodong Company on 22 February 2020, some of the Company’s senior manager, and in
Other commitments made to Other 21 February
Director: Ms. Sun Yun directors, supervisors and senior managers, based on their six months after the Ongoing
minority interests commitments 2020
and Mr. Gao Wenbao confidence in the Company’s future development and their expiration of the term
Supervisor: Mr. Xu recognition of the corporate value, promise not to reduce or (the term determined
Yangping, Mr. He transfer any shares held in BOE (A shares), not to entrust others when taking office).
Daopin, Mr. Yan Jun and to manage specific shares, not to authorize others to execute their
12
BOE Technology Group Co., Ltd. First Quarterly Report 2021
Mr. Teng Jiao voting right by means of any agreement, trust or other
Senior Management: Mr. arrangements and not to require the Company to repurchase any
Yao Xiangjun, Mr. Zhang specific shares during the terms of office and within 6 months
Zhaohong, Mr. Zhong after their tenures expire so as to promote the Company’s
Huifeng, Ms. Feng continuous, stable and healthy development and maintain the
Liqiong, Mr. Xie rights and interests of the Company and all shareholders. For any
Zhongdong, Mr. Miao newly-added shares derived from the assignment of rights and
Chuanbin and Mr. Liu interests including the share donation and the reserved funds
Hongfeng converted into share capital during the period (corresponding to
the specific shares), they shall still keep their promises till the
commitment period expires.
Executed on time or not Yes
Specific reasons for failing to
fulfill commitments on time N/A
and plans for next step
IV Financial Investments
1. Securities Investments
√ Applicable □ Not applicable
Unit: RMB
Gain/loss
of changes Accumulative Purchased Gain/loss
Accounting Sold in the
Variety of Symbol of Name of Initial Beginning in fair changes in fair in the in Ending Accounting Capital
measurement Reporting
security security security investment cost carrying value value in the value recorded Reporting Reporting carrying value title source
model Period
Reporting into equities Period Period
Period
Domestic and SH600658 Electronic 90,160,428.00 Fair value 74,372,840.00 0.00 -21,011,558.00 0.00 0.00 0.00 69,148,870.00 Other equity Self-owned
13
BOE Technology Group Co., Ltd. First Quarterly Report 2021
overseas stock Zone method instruments funds
investment
Other equity
Domestic and Bank of Fair value Self-owned
HK01963 128,514,251.00 102,845,668.00 0.00 -15,012,811.00 0.00 0.00 0.00 113,501,440.00 instruments
overseas stock Chongqing method funds
investment
New Other equity
Domestic and Fair value Self-owned
HK01518 Century 134,067,764.00 36,995,513.00 0.00 -103,621,474.00 0.00 0.00 0.00 30,446,290.00 instruments
overseas stock method funds
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 352,742,443.00 -- 214,214,021.00 0.00 -139,645,843.00 0.00 0.00 0.00 213,096,600.00 -- --
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
Actual
Purchased in investment
Relationship Related-party Initial Beginning Sold in the Impairment Ending gain/loss in
Type of the amount as %
Counterparty with the transaction investment Start date End date investment Reporting allowance investment the
derivative Reporting of the
Company or not amount amount Period (if any) amount Reporting
Period Company’s
Period
ending net
14
BOE Technology Group Co., Ltd. First Quarterly Report 2021
asset value
Foreign
Financial Not related exchange 1 January 31 March
Not 118,687.93 118,687.93 20,557.92 43,304.87 - 95,940.98 0.54% -282.36
institutions parties forward 2021 2021
contract
Total 118,687.93 -- -- 118,687.93 20,557.92 43,304.87 - 95,940.98 0.54% -282.36
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 risks
Analysis of risks and control measures associated with
faced are related to the uncertainty of the foreign exchange market in the future. The company's control measures for the financial
the derivative investments held in the Reporting Period
derivatives are as follows: the company controls the types of derivative transactions, reasonably matches the scale of derivative
(including but not limited to market, liquidity, credit,
transactions, and the transactions must match the company's production, operation and development planning, mainly for the purpose of
operational and legal risks, etc.)
cost locking and risk prevention.
Changes in market prices or fair value of derivative
investments in the Reporting Period (fair value The fair value of the invested derivatives at the end of the reporting period shall be determined by reference to the market quotation of
analysis should include measurement methods and the external financial institutions.
related assumptions and parameters)
Significant changes in accounting policies and specific
accounting principles adopted for derivative
No major changes
investments in the Reporting Period compared to the
last reporting period
Opinion of independent directors on derivative
N/A
investments and risk control
15
BOE Technology Group Co., Ltd. First Quarterly Report 2021
V Progress of Projects Financed with Raised Funds
√ Applicable □ Not applicable
Unit: RMB’0,000
Accumulativ Investment Date of Whether
Changed Investment Investment Realized Whether
Committed e investment schedule as reaching occurred
or not Committed amount amount in income in reached
investment project amount as of the intended significant
(including investment after the the anticipat
and super raise the period-end use of changes in
partial amount adjustment Reporting Reporting ed
fund arrangement period-end (3)＝ the project
changes) (1) Period Period income
(2) (2)/(1) project feasibility
Committed investment project (19BOEY1)
Capital increase to
Not 450,000 445,600 - 445,600 100.00% Naught N/A N/A Not
subsidiries
Repayment of
Not 350,000 350,000 350,000 100.00% Naught N/A N/A Not
bank loan -
Subtotal of
committed -- 800,000 795,600 - 795,600 -- -- N/A -- --
investment project
Committed investment project (20BOEY1)
Capital increase to
Not 200,000 198,900 - 198,900 100.00% Naught N/A N/A Not
subsidiries
Repayment of
-- 200,000 198,900 - 198,900 -- -- N/A -- --
bank loan
Committed investment project (20BOEY2)
Capital increase to
Not 200,000 198,878 - 198,878 100.00% Naught N/A N/A Not
subsidiries
Repayment of
-- 200,000 198,878 - 198,878 -- -- N/A -- --
bank loan
Committed investment project (20BOEY3)
Capital increase in
Not 180,000 180,000 - 180,000 100.00% Naught N/A N/A Not
subsidiaries
Supplement to
No 20,000 18,888 - 18,888 100.00% Naught N/A N/A Not
working capital
Subtotal of
committed
-- 200,000 198,888 - 198,888 -- -- N/A -- --
investment
projects
16
BOE Technology Group Co., Ltd. First Quarterly Report 2021
Total committed
investment -- 1,400,000 1,392,266 - 1,392,266 -- -- -- --
projects
Condition and
reason for not
reaching the
schedule and No such cases in the Reporting Period.
anticipated
income (by
specific items)
Notes of condition
of significant
changes occurred Naught
in project
feasibility
Advance
investments in As of 31 March 2021, the Company swapped, with subsequent raised funds, a total of advance investments of
projects financed RMB4,515 million in projects financed with raised funds. To be specific, the funds raised in the first tranche of
with raised funds renewable corporate bonds of 2019 were swapped with advance investments of RMB785 million, the funds raised
and swaps of such in the first tranche of renewable corporate bonds of 2020 were swapped with advance investments of RMB1,600
advance million, the funds raised in the second tranche of renewable corporate bonds of 2020 were swapped with advance
investments with investments of RMB1,200 million, and the funds raised in the third tranche of renewable corporate bonds of 2020
subsequent raised were swapped with advance investments of RMB930 million.
funds
Idle fund
supplementing the
N/A
current capital
temporarily
Amount of
surplus in project The total amount of raised funds was used up. As of 31 March 2021, the balance in the raised funds account was
implementation RMB8.1381 million, which were interest accrued.
and the reasons
Usage and
destination of Naught
unused funds
Problems incurred
in fund using and
Naught
disclosure or other
condition
17
BOE Technology Group Co., Ltd. First Quarterly Report 2021
VI Operating Performance Forecast for January-June 2021
Warning of a forecast loss on or a forecast significant YoY change in accumulative net profit from the beginning of the year to the
end of the next reporting period, as well as explanation of why:
□ Applicable √ Not applicable
VII Significant Contracts Arising from the Company’s Ordinary Course of Business
□ Applicable √ Not applicable
VIII Cash Entrusted for Wealth Management
√ Applicable □ Not applicable
Unit: RMB’0,000
Specific type Capital resources Amount incurred Undue balance Overdue amount
Bank financial products and structured deposit Self-owned funds 501,500 320,400 0
Total 501,500 320,400 0
Note: The amount incurred of cash entrusted for wealth management refers to the maximum balance of such wealth management on
a single day during the Reporting Period.
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.
XI Communications with the Investment Community such as Researches, Inquiries and
Interviews Received during the Reporting Period
√ Applicable □ Not applicable
Date Place Way of Type of the Communication party Main discussions and Index to the
18
BOE Technology Group Co., Ltd. First Quarterly Report 2021
communic communicat materials provided by the relevant
ation ion party Company information
Penghua Fund, China Main content:
11 March 2021 Teleconference By phone Institution International Fund Man 1. Main situation of the
agement Co., Ltd. industry; www.cninfo.com.cn
2. Major operating
11 March 2021 Teleconference By phone Institution Xuzhang Investment
information of the Company.
19
BOE Technology Group Co., Ltd. First Quarterly Report 2021
Part IV Financial Statements
I Financial Statements
1. Consolidated Balance Sheet
Prepared by BOE Technology Group Co., Ltd.
Unit: RMB
Item 31 March 2021 31 December 2020
Current assets:
Monetary assets 70,432,014,729.00 73,694,296,095.00
Settlement reserve 0.00 0.00
Interbank loans granted 0.00 0.00
Held-for-trading financial assets 3,476,010,747.00 4,367,201,833.00
Derivative financial assets 0.00 0.00
Notes receivable 133,473,577.00 215,994,373.00
Accounts receivable 30,171,345,908.00 22,969,140,355.00
Accounts receivable financing 0.00 0.00
Prepayments 863,100,142.00 1,119,595,984.00
Premiums receivable 0.00 0.00
Reinsurance receivables 0.00 0.00
Receivable reinsurance contract reserve 0.00 0.00
Other receivables 667,457,675.00 658,114,833.00
Including: Interest receivable 3,208,499.00 2,037,452.00
Dividends receivable 1,842,137.00 1,842,137.00
Financial assets purchased under resale agreements 0.00 0.00
Inventories 20,535,550,576.00 17,875,454,490.00
Contract assets 54,727,680.00 49,897,395.00
Assets held for sale 0.00 186,892,645.00
Current portion of non-current assets 0.00 0.00
Other current assets 6,934,754,826.00 7,848,869,252.00
Total current assets 133,268,435,860.00 128,985,457,255.00
Non-current assets:
Loans and advances to customers 0.00 0.00
20
BOE Technology Group Co., Ltd. First Quarterly Report 2021
Investments in debt obligations 0.00 0.00
Investments in other debt obligations 0.00 0.00
Long-term receivables 0.00 0.00
Long-term equity investments 3,648,545,370.00 3,693,170,224.00
Investments in other equity instruments 1,142,991,935.00 533,645,423.00
Other non-current financial assets 0.00 0.00
Investment property 1,186,328,773.00 1,196,168,511.00
Fixed assets 227,572,866,096.00 224,866,586,069.00
Construction in progress 37,459,522,318.00 42,575,849,952.00
Productive living assets 0.00 0.00
Oil and gas assets 0.00 0.00
Right-of-use assets 1,677,380,461.00 0.00
Intangible assets 11,615,576,368.00 11,875,926,448.00
Development costs 0.00 0.00
Goodwill 1,400,357,242.00 1,400,357,242.00
Long-term prepaid expense 589,884,173.00 299,634,100.00
Deferred income tax assets 198,680,640.00 205,041,088.00
Other non-current assets 7,897,588,330.00 8,624,970,019.00
Total non-current assets 294,389,721,706.00 295,271,349,076.00
Total assets 427,658,157,566.00 424,256,806,331.00
Current liabilities:
Short-term borrowings 6,445,944,641.00 8,599,569,471.00
Borrowings from the central bank 0.00 0.00
Interbank loans obtained 0.00 0.00
Held-for-trading financial liabilities 0.00 0.00
Derivative financial liabilities 0.00 0.00
Notes payable 575,550,858.00 1,231,533,895.00
Accounts payable 32,553,579,091.00 27,164,171,682.00
Advances from customers 251,179,298.00 124,040,749.00
Contract liabilities 2,824,782,223.00 3,440,720,535.00
Financial assets sold under repurchase agreements 0.00 0.00
Customer deposits and interbank deposits 0.00 0.00
Payables for acting trading of securities 0.00 0.00
Payables for underwriting of securities 0.00 0.00
21
BOE Technology Group Co., Ltd. First Quarterly Report 2021
Employee benefits payable 2,755,885,011.00 3,758,623,797.00
Taxes payable 1,799,025,693.00 1,077,686,869.00
Other payables 28,297,139,001.00 32,867,709,024.00
Including: Interest payable 2,450,999.00 1,946,267.00
Dividends payable 20,627,507.00 6,451,171.00
Handling charges 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 25,343,848,429.00 24,500,550,121.00
Other current liabilities 2,463,114,477.00 2,194,716,852.00
Total current liabilities 103,310,048,722.00 104,959,322,995.00
Non-current liabilities:
Insurance contract reserve 0.00 0.00
Long-term borrowings 132,878,468,971.00 132,452,767,135.00
Bonds payable 386,647,731.00 398,971,739.00
Including: Preferred shares 0.00 0.00
Perpetual bonds 0.00 0.00
Lease liabilities 1,340,841,889.00 0.00
Long-term payables 969,520,614.00 2,114,175,683.00
Long-term employee benefits payable 0.00 0.00
Provisions 0.00 0.00
Deferred income 4,840,251,396.00 4,246,231,468.00
Deferred income tax liabilities 1,471,200,732.00 1,427,601,154.00
Other non-current liabilities 4,602,485,031.00 5,260,001,443.00
Total non-current liabilities 146,489,416,364.00 145,899,748,622.00
Total liabilities 249,799,465,086.00 250,859,071,617.00
Owners’ equity:
Share capital 34,798,398,763.00 34,798,398,763.00
Other equity instruments 14,134,970,030.00 14,146,997,427.00
Including: Preferred shares 0.00 0.00
Perpetual bonds 14,134,970,030.00 14,146,997,427.00
Capital reserves 41,392,880,985.00 37,435,655,934.00
Less: Treasury stock 1,036,298,508.00 1,036,298,508.00
Other comprehensive income 67,597,767.00 -22,198,072.00
22
BOE Technology Group Co., Ltd. First Quarterly Report 2021
Specific reserve 0.00 0.00
Surplus reserves 2,444,416,669.00 2,444,416,669.00
General reserve 0.00 0.00
Retained earnings 20,560,259,190.00 15,509,794,622.00
Total equity attributable to owners of the Company as the
112,362,224,896.00 103,276,766,835.00
parent
Non-controlling interests 65,496,467,584.00 70,120,967,879.00
Total owners’ equity 177,858,692,480.00 173,397,734,714.00
Total liabilities and owners’ equity 427,658,157,566.00 424,256,806,331.00
Legal representative: ChenYanshun Chief Executive Officer: 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 31 March 2021 31 December 2020
Current assets:
Monetary assets 2,039,236,421.00 4,375,497,010.00
Held-for-trading financial assets 0.00 0.00
Derivative financial assets 0.00 0.00
Notes receivable 0.00 0.00
Accounts receivable 5,226,617,530.00 3,974,212,308.00
Accounts receivable financing 0.00 0.00
Prepayments 17,649,288.00 12,185,651.00
Other receivables 16,169,424,495.00 16,345,474,583.00
Including: Interest receivable 0.00 0.00
Dividends receivable 460,261,502.00 460,261,502.00
Inventories 18,835,071.00 18,622,283.00
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 176,318,048.00 177,761,718.00
Total current assets 23,648,080,853.00 24,903,753,553.00
Non-current assets:
Investments in debt obligations 0.00 0.00
23
BOE Technology Group Co., Ltd. First Quarterly Report 2021
Investments in other debt obligations 0.00 0.00
Long-term receivables 0.00 0.00
Long-term equity investments 192,067,532,951.00 182,135,057,208.00
Investments in other equity instruments 75,968,902.00 81,192,872.00
Other non-current financial assets 0.00 0.00
Investment property 268,790,713.00 271,212,241.00
Fixed assets 987,516,745.00 1,009,178,229.00
Construction in progress 459,260,990.00 418,343,961.00
Productive living assets 0.00 0.00
Oil and gas assets 0.00 0.00
Right-of-use assets 6,363,860.00 0.00
Intangible assets 1,341,222,012.00 1,380,069,827.00
Development costs 0.00 0.00
Goodwill 0.00 0.00
Long-term prepaid expense 414,476,843.00 105,439,681.00
Deferred income tax assets 0.00 0.00
Other non-current assets 2,609,663,606.00 2,611,437,988.00
Total non-current assets 198,230,796,622.00 188,011,932,007.00
Total assets 221,878,877,475.00 212,915,685,560.00
Current liabilities:
Short-term borrowings 0.00 0.00
Held-for-trading financial liabilities 0.00 0.00
Derivative financial liabilities 0.00 0.00
Notes payable 0.00 0.00
Accounts payable 37,125,323.00 272,241,469.00
Advances from customers 19,383,229.00 18,286,458.00
Contract liabilities 0.00 0.00
Employee benefits payable 148,645,751.00 516,060,153.00
Taxes payable 71,650,239.00 87,179,892.00
Other payables 5,801,619,272.00 6,541,918,681.00
Including: Interest payable 0.00 0.00
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 10,845,393,222.00 7,847,210,073.00
24
BOE Technology Group Co., Ltd. First Quarterly Report 2021
Other current liabilities 29,162,636.00 1,977,977.00
Total current liabilities 16,952,979,672.00 15,284,874,703.00
Non-current liabilities:
Long-term borrowings 38,714,047,455.00 38,360,714,121.00
Bonds payable 0.00 0.00
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 employee benefits payable 0.00 0.00
Provisions 0.00 0.00
Deferred income 3,407,020,280.00 3,633,342,446.00
Deferred income tax liabilities 384,914,008.00 385,697,604.00
Other non-current liabilities 62,576,304,472.00 56,156,661,805.00
Total non-current liabilities 105,082,286,215.00 98,536,415,976.00
Total liabilities 122,035,265,887.00 113,821,290,679.00
Owners’ equity:
Share capital 34,798,398,763.00 34,798,398,763.00
Other equity instruments 14,134,970,030.00 14,146,997,427.00
Including: Preferred shares 0.00 0.00
Perpetual bonds 14,134,970,030.00 14,146,997,427.00
Capital reserves 36,850,469,406.00 36,696,079,366.00
Less: Treasury stock 1,036,298,508.00 1,036,298,508.00
Other comprehensive income 86,272,759.00 90,713,133.00
Specific reserve 0.00 0.00
Surplus reserves 2,444,416,669.00 2,444,416,669.00
Retained earnings 12,565,382,469.00 11,954,088,031.00
Total owners’ equity 99,843,611,588.00 99,094,394,881.00
Total liabilities and owners’ equity 221,878,877,475.00 212,915,685,560.00
3. Consolidated Income Statement
Unit: RMB
Item Q1 2021 Q1 2020
1. Revenue 49,655,379,519.00 23,887,380,060.00
25
BOE Technology Group Co., Ltd. First Quarterly Report 2021
Including: Operating revenue 49,655,379,519.00 23,887,380,060.00
Interest income 0.00 0.00
Insurance premium income 0.00 0.00
Handling charge and commission income 0.00 0.00
2. Costs and expenses 41,999,820,924.00 24,373,530,198.00
Including: Cost of sales 35,687,365,024.00 20,181,444,162.00
Interest expense 0.00 0.00
Handling charge 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
0.00 0.00
reserve
Expenditure on policy dividends 0.00 0.00
Reinsurance premium expense 0.00 0.00
Taxes and surcharges 441,746,948.00 251,976,903.00
Selling expense 979,886,354.00 687,405,767.00
Administrative expense 1,868,531,804.00 1,174,986,767.00
R&D expense 2,289,899,747.00 1,568,083,480.00
Finance costs 732,391,047.00 509,633,119.00
Including: Interest expense 1,102,678,393.00 726,022,773.00
Interest income 212,662,119.00 231,913,339.00
Add: Other income 633,790,180.00 1,145,102,546.00
Return on investment (“-” for loss) 4,191,862.00 15,694,811.00
Including: Share of profit or loss of joint ventures
-1,651,195.00 -8,717,548.00
and associates
Income from the derecognition of
0.00 0.00
financial assets at 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) 24,615,626.00 16,408,377.00
Credit impairment loss (“-” for loss) -1,728,887.00 2,347,999.00
Asset impairment loss (“-” for loss) -1,259,128,818.00 -615,496,194.00
Asset disposal income (“-” for loss) 150,606,678.00 2,846,459.00
3. Operating profit (“-” for loss) 7,207,905,236.00 80,753,860.00
Add: Non-operating income 20,465,222.00 15,881,412.00
26
BOE Technology Group Co., Ltd. First Quarterly Report 2021
Less: Non-operating expense 1,760,338.00 14,163,570.00
4. Profit before tax (“-” for loss) 7,226,610,120.00 82,471,702.00
Less: Income tax expense 924,524,817.00 200,222,357.00
5. Net profit (“-” for net loss) 6,302,085,303.00 -117,750,655.00
5.1 By operating continuity
5.1.1 Net profit from continuing operations (“-” for net
6,302,085,303.00 -117,750,655.00
loss)
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 shareholders of the 5,182,037,171.00
566,676,460.00
Company as the parent
5.2.2 Net profit attributable to non-controlling interests 1,120,048,132.00 -684,427,115.00
6. Other comprehensive income, net of tax 81,021,763.00 50,132,108.00
Attributable to owners of the Company as the parent 89,795,839.00 52,015,219.00
6.1 Items that will not be reclassified to profit or loss -1,357,488.00 -11,802,049.00
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
0.00 0.00
reclassified to profit or loss under the equity method
6.1.3 Changes in the fair value of investments in other
-1,357,488.00 -11,802,049.00
equity instruments
6.1.4 Changes in the fair value arising from changes
0.00 0.00
in own credit risk
6.1.5 Other 0.00 0.00
6.2 Items that will be reclassified to profit or loss 91,153,327.00 63,817,268.00
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 investments in other
0.00 0.00
debt obligations
6.2.3 Other comprehensive income arising from the
0.00 0.00
reclassification of financial assets
6.2.4 Credit impairment allowance for investments in
0.00 0.00
other debt obligations
6.2.5 Reserve for cash flow hedges 0.00 0.00
6.2.6 Differences arising from the translation of
91,153,327.00 63,817,268.00
foreign currency-denominated financial statements
27
BOE Technology Group Co., Ltd. First Quarterly Report 2021
6.2.7 Other 0.00 0.00
Attributable to non-controlling interests -8,774,076.00 -1,883,111.00
7. Total comprehensive income 6,383,107,066.00 -67,618,547.00
Attributable to owners of the Company as the parent 5,271,833,010.00 618,691,679.00
Attributable to non-controlling interests 1,111,274,056.00 -686,310,226.00
8. Earnings per share
8.1 Basic earnings per share 0.147 0.014
8.2 Diluted earnings per share 0.147 0.014
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 Chief Executive Officer: 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
Unit: RMB
Item Q1 2021 Q1 2020
1. Operating revenue 1,897,160,472.00 458,313,194.00
Less: Cost of sales 4,442,847.00 4,593,916.00
Taxes and surcharges 9,456,667.00 8,049,055.00
Selling expense 0.00 0.00
Administrative expense 157,003,608.00 146,050,618.00
R&D expense 437,217,798.00 413,372,812.00
Finance costs 666,214,035.00 239,766,061.00
Including: Interest expense 678,550,417.00 253,001,175.00
Interest income 12,278,440.00 14,200,127.00
Add: Other income 254,682,521.00 244,223,994.00
Return on investment (“-” for loss) -1,433,731.00 -8,717,548.00
Including: Share of profit or loss of joint ventures
-1,433,731.00 -8,717,548.00
and associates
Income from the derecognition of
0.00 0.00
financial assets at 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) -793,109.00 -1,514,688.00
28
BOE Technology Group Co., Ltd. First Quarterly Report 2021
Asset impairment loss (“-” for loss) 0.00 0.00
Asset disposal income (“-” for loss) 0.00 0.00
2. Operating profit (“-” for loss) 875,281,198.00 -119,527,510.00
Add: Non-operating income 1,503,722.00 511,266.00
Less: Non-operating expense 633,757.00 52,759.00
3. Profit before tax (“-” for loss) 876,151,163.00 -119,069,003.00
Less: Income tax expense 133,284,122.00 0.00
4. Net profit (“-” for net loss) 742,867,041.00 -119,069,003.00
4.1 Net profit from continuing operations (“-” for net loss) 742,867,041.00 -119,069,003.00
4.2 Net profit from discontinued operations (“-” for net
0.00 0.00
loss)
5. Other comprehensive income, net of tax -4,440,374.00 -11,802,049.00
5.1 Items that will not be reclassified to profit or loss -4,440,374.00 -11,802,049.00
5.1.1 Changes caused by remeasurements on defined
0.00 0.00
benefit schemes
5.1.2 Other comprehensive income that will not be
0.00 0.00
reclassified to profit or loss under the equity method
5.1.3 Changes in the fair value of investments in other
-4,440,374.00 -11,802,049.00
equity instruments
5.1.4 Changes in the fair value arising from changes in
0.00 0.00
own 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
0.00 0.00
reclassified to profit or loss under the equity method
5.2.2 Changes in the fair value of investments in other
0.00 0.00
debt obligations
5.2.3 Other comprehensive income arising from the
0.00 0.00
reclassification of financial assets
5.2.4 Credit impairment allowance for investments in
0.00 0.00
other debt obligations
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 738,426,667.00 -130,871,052.00
29
BOE Technology Group Co., Ltd. First Quarterly Report 2021
7. Earnings per share
7.1 Basic earnings per share 0.018 -0.003
7.2 Diluted earnings per share 0.018 -0.003
5. Consolidated Cash Flow Statement
Unit: RMB
Item Q1 2021 Q1 2020
1. Cash flows from operating activities:
Proceeds from sale of commodities and rendering of
45,134,348,026.00 28,186,187,305.00
services
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
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 3,313,056,369.00 2,661,689,752.00
Cash generated from other operating activities 2,404,235,560.00 2,378,278,509.00
Subtotal of cash generated from operating activities 50,851,639,955.00 33,226,155,566.00
Payments for commodities and services 27,850,730,900.00 22,371,364,151.00
Net increase in loans and advances to customers 0.00 0.00
Net increase in deposits in the central bank and in
0.00 0.00
interbank loans granted
Payments for claims on original insurance contracts 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 5,234,398,791.00 3,275,179,588.00
Taxes paid 1,591,889,266.00 877,551,385.00
Cash used in other operating activities 1,651,788,290.00 1,478,388,523.00
30
BOE Technology Group Co., Ltd. First Quarterly Report 2021
Subtotal of cash used in operating activities 36,328,807,247.00 28,002,483,647.00
Net cash generated from/used in operating activities 14,522,832,708.00 5,223,671,919.00
2. Cash flows from investing activities:
Proceeds from disinvestment 6,945,083,730.00 7,088,558,339.00
Return on investment 38,345,717.00 42,462,797.00
Net proceeds from the disposal of fixed assets, intangible
28,883,902.00 2,505,929.00
assets and other long-lived assets
Net proceeds from the disposal of subsidiaries and other
0.00
business units
Cash generated from other investing activities 483,016,804.00 351,693,093.00
Subtotal of cash generated from investing activities 7,495,330,153.00 7,485,220,158.00
Payments for the acquisition of fixed assets, intangible
12,860,450,056.00 10,191,638,257.00
assets and other long-lived assets
Payments for investments 13,093,098,515.00 4,900,152,790.00
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 215,137,381.00 485,596,441.00
Subtotal of cash used in investing activities 26,168,685,952.00 15,577,387,488.00
Net cash generated from/used in investing activities -18,673,355,799.00 -8,092,167,330.00
3. Cash flows from financing activities:
Capital contributions received 4,412,784,000.00 0.00
Including: Capital contributions by non-controlling
4,412,784,000.00 0.00
interests to subsidiaries
Borrowings raised 11,174,149,007.00 18,555,241,380.00
Cash generated from other financing activities 459,334,021.00 15,327,185.00
Subtotal of cash generated from financing activities 16,046,267,028.00 18,570,568,565.00
Repayment of borrowings 12,067,500,252.00 14,471,417,731.00
Interest and dividends paid 1,870,277,309.00 1,850,451,609.00
Including: Dividends paid by subsidiaries to
0.00 0.00
non-controlling interests
Cash used in other financing activities 403,063,436.00 226,677,401.00
Subtotal of cash used in financing activities 14,340,840,997.00 16,548,546,741.00
Net cash generated from/used in financing activities 1,705,426,031.00 2,022,021,824.00
4. Effect of foreign exchange rates changes on cash and cash
234,579,051.00
equivalents 171,780,599.00
31
BOE Technology Group Co., Ltd. First Quarterly Report 2021
5. Net increase in cash and cash equivalents -2,273,316,461.00 -611,894,536.00
Add: Cash and cash equivalents, beginning of the period 68,064,736,371.00 50,270,321,573.00
6. Cash and cash equivalents, end of the period 65,791,419,910.00 49,658,427,037.00
6. Cash Flow Statement of the Company as the Parent
Unit: RMB
Item Q1 2021 Q1 2020
1. Cash flows from operating activities:
Proceeds from sale of commodities and rendering of
687,105,299.00 1,067,949,887.00
services
Tax rebates 26,680,026.00 0.00
Cash generated from other operating activities 147,954,213.00 91,767,665.00
Subtotal of cash generated from operating activities 861,739,538.00 1,159,717,552.00
Payments for commodities and services 1,278,781,940.00 1,352,312,807.00
Cash paid to and for employees 516,720,782.00 409,617,020.00
Taxes paid 263,267,463.00 147,997,702.00
Cash used in other operating activities 66,765,651.00 146,442,687.00
Subtotal of cash used in operating activities 2,125,535,836.00 2,056,370,216.00
Net cash generated from/used in operating activities -1,263,796,298.00 -896,652,664.00
2. Cash flows from investing activities:
Proceeds from disinvestment 332,797,624.00 0.00
Return on investment 0.00 0.00
Net proceeds from the disposal of fixed assets, intangible
1,320.00 0.00
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 962,263,830.00 39,485,444.00
Subtotal of cash generated from investing activities 1,295,062,774.00 39,485,444.00
Payments for the acquisition of fixed assets, intangible
417,011,188.00 54,360,642.00
assets and other long-lived assets
Payments for investments 10,145,686,022.00 4,147,118,750.00
Net payments for the acquisition of subsidiaries and other
0.00 0.00
business units
Cash used in other investing activities 25,211,288.00 15,041,557.00
Subtotal of cash used in investing activities 10,587,908,498.00 4,216,520,949.00
32
BOE Technology Group Co., Ltd. First Quarterly Report 2021
Net cash generated from/used in investing activities -9,292,845,724.00 -4,177,035,505.00
3. Cash flows from financing activities:
Capital contributions received 0.00 0.00
Borrowings raised 3,800,000,000.00 8,970,000,000.00
Cash generated from other financing activities 5,359,999,995.00 907,024,018.00
Subtotal of cash generated from financing activities 9,159,999,995.00 9,877,024,018.00
Repayment of borrowings 480,000,000.00 3,990,000,000.00
Interest and dividends paid 471,853,983.00 247,128,977.00
Cash used in other financing activities 104,779.00 350,000.00
Subtotal of cash used in financing activities 951,958,762.00 4,237,478,977.00
Net cash generated from/used in financing activities 8,208,041,233.00 5,639,545,041.00
4. Effect of foreign exchange rates changes on cash and cash
17,738,068.00 9,235,574.00
equivalents
5. Net increase in cash and cash equivalents -2,330,862,721.00 575,092,446.00
Add: Cash and cash equivalents, beginning of the period 4,360,065,216.00 3,680,770,048.00
6. Cash and cash equivalents, end of the period 2,029,202,495.00 4,255,862,494.00
II Adjustments to the Financial Statements
1. Adjustments to the Financial Statements at the Beginning of the First Execution Year of the New
Standards Governing Leases since 2021
√ 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 2020 1 January 2021 Adjusted
Current assets:
Monetary assets 73,694,296,095.00 73,694,296,095.00 0.00
Settlement reserve 0.00 0.00 0.00
Interbank loans granted 0.00 0.00 0.00
Held-for-trading financial assets 4,367,201,833.00 4,367,201,833.00 0.00
Derivative financial assets 0.00 0.00 0.00
Notes receivable 215,994,373.00 215,994,373.00 0.00
Accounts receivable 22,969,140,355.00 22,969,140,355.00 0.00
33
BOE Technology Group Co., Ltd. First Quarterly Report 2021
Receivables financing 0.00 0.00 0.00
Prepayments 1,119,595,984.00 1,111,719,928.00 -7,876,056.00
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 658,114,833.00 658,114,833.00 0.00
Including: Interest receivable 2,037,452.00 2,037,452.00 0.00
Dividends receivable 1,842,137.00 1,842,137.00 0.00
Financial assets purchased under resale
0.00 0.00 0.00
agreements
Inventories 17,875,454,490.00 17,875,454,490.00 0.00
Contract assets 49,897,395.00 49,897,395.00 0.00
Assets held for sale 186,892,645.00 186,892,645.00 0.00
Current portion of non-current assets 0.00 0.00 0.00
Other current assets 7,848,869,252.00 7,848,869,252.00 0.00
Total current assets 128,985,457,255.00 128,977,581,199.00 -7,876,056.00
Non-current assets:
Loans and advances to customers 0.00 0.00 0.00
Investments in debt obligations 0.00 0.00 0.00
Investments in other debt obligations 0.00 0.00 0.00
Long-term receivables 0.00 0.00 0.00
Long-term equity investments 3,693,170,224.00 3,693,170,224.00 0.00
Investments in other equity instruments 533,645,423.00 533,645,423.00 0.00
Other non-current financial assets 0.00 0.00 0.00
Investment property 1,196,168,511.00 1,196,168,511.00 0.00
Fixed assets 224,866,586,069.00 223,677,725,540.00 -1,188,860,529.00
Construction in progress 42,575,849,952.00 42,575,849,952.00 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 1,697,705,801.00 1,697,705,801.00
Intangible assets 11,875,926,448.00 11,875,926,448.00 0.00
Development costs 0.00 0.00 0.00
Goodwill 1,400,357,242.00 1,400,357,242.00 0.00
Long-term prepaid expense 299,634,100.00 285,653,485.00 -13,980,615.00
34
BOE Technology Group Co., Ltd. First Quarterly Report 2021
Deferred income tax assets 205,041,088.00 205,041,088.00 0.00
Other non-current assets 8,624,970,019.00 8,624,970,019.00 0.00
Total non-current assets 295,271,349,076.00 295,766,213,733.00 494,864,657.00
Total assets 424,256,806,331.00 424,743,794,932.00 486,988,601.00
Current liabilities:
Short-term borrowings 8,599,569,471.00 8,599,569,471.00 0.00
Borrowings from the central bank 0.00 0.00 0.00
Interbank loans obtained 0.00 0.00 0.00
Held-for-trading financial liabilities 0.00 0.00 0.00
Derivative financial liabilities 0.00 0.00 0.00
Notes payable 1,231,533,895.00 1,231,533,895.00 0.00
Accounts payable 27,164,171,682.00 27,164,171,682.00 0.00
Advances from customers 124,040,749.00 124,040,749.00 0.00
Contract liabilities 3,440,720,535.00 3,440,720,535.00 0.00
Financial assets sold under repurchase
0.00 0.00 0.00
agreements
Customer deposits and interbank
0.00 0.00 0.00
deposits
Payables for acting trading of securities 0.00 0.00 0.00
Payables for underwriting of securities 0.00 0.00 0.00
Employee benefits payable 3,758,623,797.00 3,758,623,797.00 0.00
Taxes and levies payable 1,077,686,869.00 1,077,686,869.00 0.00
Other payables 32,867,709,024.00 32,867,709,024.00 0.00
Including: Interest payable 1,946,267.00 1,946,267.00 0.00
Dividends payable 6,451,171.00 6,451,171.00 0.00
Handling charges and commissions
0.00 0.00 0.00
payable
Reinsurance payables 0.00 0.00 0.00
Liabilities directly associated with
0.00 0.00 0.00
assets classified as held for sale
Current portion of non-current
24,500,550,121.00 24,614,807,403.00 114,257,282.00
liabilities
Other current liabilities 2,194,716,852.00 2,194,716,852.00 0.00
Total current liabilities 104,959,322,995.00 105,073,580,277.00 114,257,282.00
Non-current liabilities:
35
BOE Technology Group Co., Ltd. First Quarterly Report 2021
Insurance contract reserve 0.00 0.00 0.00
Long-term borrowings 132,452,767,135.00 132,452,767,135.00 0.00
Bonds payable 398,971,739.00 398,971,739.00 0.00
Including: Preferred shares 0.00 0.00 0.00
Perpetual bonds 0.00 0.00 0.00
Lease liabilities 0.00 1,253,448,652.00 1,253,448,652.00
Long-term payables 2,114,175,683.00 1,233,458,350.00 -880,717,333.00
Long-term payroll payable 0.00 0.00 0.00
Provisions 0.00 0.00 0.00
Deferred income 4,246,231,468.00 4,246,231,468.00 0.00
Deferred income tax liabilities 1,427,601,154.00 1,427,601,154.00 0.00
Other non-current liabilities 5,260,001,443.00 5,260,001,443.00 0.00
Total non-current liabilities 145,899,748,622.00 146,272,479,941.00 372,731,319.00
Total liabilities 250,859,071,617.00 251,346,060,218.00 486,988,601.00
Owners’ equity:
Share capital 34,798,398,763.00 34,798,398,763.00 0.00
Other equity instruments 14,146,997,427.00 14,146,997,427.00 0.00
Including: Preferred shares 0.00 0.00 0.00
Perpetual bonds 14,146,997,427.00 14,146,997,427.00 0.00
Capital reserves 37,435,655,934.00 37,435,655,934.00 0.00
Less: Treasury stock 1,036,298,508.00 1,036,298,508.00 0.00
Other comprehensive income -22,198,072.00 -22,198,072.00 0.00
Specific reserve 0.00 0.00 0.00
Surplus reserves 2,444,416,669.00 2,444,416,669.00 0.00
General reserve 0.00 0.00 0.00
Retained earnings 15,509,794,622.00 15,509,794,622.00 0.00
Total equity attributable to owners of the
103,276,766,835.00 103,276,766,835.00 0.00
Company as the parent
Non-controlling interests 70,120,967,879.00 70,120,967,879.00 0.00
Total owners’ equity 173,397,734,714.00 173,397,734,714.00 0.00
Total liabilities and owners’ equity 424,256,806,331.00 424,743,794,932.00 486,988,601.00
Note for adjustment:
The Company began to implement the Accounting Standards for Business Enterprises No. 21 - Leases revised in 2018 from 1
January 2021. 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
36
BOE Technology Group Co., Ltd. First Quarterly Report 2021
Unit: RMB
Item 31 December 2020 1 January 2021 Adjusted
Current assets:
Monetary assets 4,375,497,010.00 4,375,497,010.00 0.00
Held-for-trading financial assets 0.00 0.00 0.00
Derivative financial assets 0.00 0.00 0.00
Notes receivable 0.00 0.00 0.00
Accounts receivable 3,974,212,308.00 3,974,212,308.00 0.00
Receivables financing 0.00 0.00 0.00
Prepayments 12,185,651.00 12,185,651.00 0.00
Other receivables 16,345,474,583.00 16,345,474,583.00 0.00
Including: Interest receivable 0.00 0.00 0.00
Dividends receivable 460,261,502.00 460,261,502.00 0.00
Inventories 18,622,283.00 18,622,283.00 0.00
Contract assets 0.00 0.00 0.00
Assets held for sale 0.00 0.00 0.00
Current portion of non-current assets 0.00 0.00 0.00
Other current assets 177,761,718.00 177,761,718.00 0.00
Total current assets 24,903,753,553.00 24,903,753,553.00 0.00
Non-current assets:
Investments in debt obligations 0.00 0.00 0.00
Investments in other debt obligations 0.00 0.00 0.00
Long-term receivables 0.00 0.00 0.00
Long-term equity investments 182,135,057,208.00 182,135,057,208.00 0.00
Investments in other equity instruments 81,192,872.00 81,192,872.00 0.00
Other non-current financial assets 0.00 0.00 0.00
Investment property 271,212,241.00 271,212,241.00 0.00
Fixed assets 1,009,178,229.00 1,002,750,947.00 -6,427,282.00
Construction in progress 418,343,961.00 418,343,961.00 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 6,427,282.00 6,427,282.00
Intangible assets 1,380,069,827.00 1,380,069,827.00 0.00
Development costs 0.00 0.00 0.00
37
BOE Technology Group Co., Ltd. First Quarterly Report 2021
Goodwill 0.00 0.00 0.00
Long-term prepaid expense 105,439,681.00 105,439,681.00 0.00
Deferred income tax assets 0.00 0.00 0.00
Other non-current assets 2,611,437,988.00 2,611,437,988.00 0.00
Total non-current assets 188,011,932,007.00 188,011,932,007.00 0.00
Total assets 212,915,685,560.00 212,915,685,560.00 0.00
Current liabilities:
Short-term borrowings 0.00 0.00 0.00
Held-for-trading financial liabilities 0.00 0.00 0.00
Derivative financial liabilities 0.00 0.00 0.00
Notes payable 0.00 0.00 0.00
Accounts payable 272,241,469.00 272,241,469.00 0.00
Advances from customers 18,286,458.00 18,286,458.00 0.00
Contract liabilities 0.00 0.00 0.00
Employee benefits payable 516,060,153.00 516,060,153.00 0.00
Taxes payable 87,179,892.00 87,179,892.00 0.00
Other payables 6,541,918,681.00 6,541,918,681.00 0.00
Including: Interest payable 0.00 0.00 0.00
Dividends payable 6,451,171.00 6,451,171.00 0.00
Liabilities directly associated with
0.00 0.00 0.00
assets classified as held for sale
Current portion of non-current
7,847,210,073.00 7,847,210,073.00 0.00
liabilities
Other current liabilities 1,977,977.00 1,977,977.00 0.00
Total current liabilities 15,284,874,703.00 15,284,874,703.00 0.00
Non-current liabilities:
Long-term borrowings 38,360,714,121.00 38,360,714,121.00 0.00
Bonds payable 0.00 0.00 0.00
Including: Preferred 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 0.00 0.00 0.00
Long-term employee benefits payable 0.00 0.00 0.00
Provisions 0.00 0.00 0.00
Deferred income 3,633,342,446.00 3,633,342,446.00 0.00
38
BOE Technology Group Co., Ltd. First Quarterly Report 2021
Deferred income tax liabilities 385,697,604.00 385,697,604.00 0.00
Other non-current liabilities 56,156,661,805.00 56,156,661,805.00 0.00
Total non-current liabilities 98,536,415,976.00 98,536,415,976.00 0.00
Total liabilities 113,821,290,679.00 113,821,290,679.00 0.00
Owners’ equity:
Share capital 34,798,398,763.00 34,798,398,763.00 0.00
Other equity instruments 14,146,997,427.00 14,146,997,427.00 0.00
Including: Preferred shares 0.00 0.00 0.00
Perpetual bonds 14,146,997,427.00 14,146,997,427.00 0.00
Capital reserves 36,696,079,366.00 36,696,079,366.00 0.00
Less: Treasury stock 1,036,298,508.00 1,036,298,508.00 0.00
Other comprehensive income 90,713,133.00 90,713,133.00 0.00
Specific reserve 0.00 0.00 0.00
Surplus reserves 2,444,416,669.00 2,444,416,669.00 0.00
Retained earnings 11,954,088,031.00 11,954,088,031.00 0.00
Total owners’ equity 99,094,394,881.00 99,094,394,881.00 0.00
Total liabilities and owners’ equity 212,915,685,560.00 212,915,685,560.00 0.00
Note for adjustment:
The Company began to implement the Accounting Standards for Business Enterprises No. 21 - Leases revised in 2018 from 1
January 2021. 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 the New
Standards Governing Leases since 2021
□ 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 April 2021
39
