INTERIM REPORT 2021
August 2021
BOE Technology Group Co., Ltd. Interim Report 2021
Part I Important Notes, Table of Contents and Definitions
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.
Mr. Chen Yanshun, the Company’s legal representative, Mr. Liu Xiaodong, President, Ms.
Sun Yun, Chief Financial Officer, and Ms. Yang Xiaoping, head of the financial department
(equivalent to financial manager) hereby guarantee that the Financial Statements carried in
this Report are factual, accurate and complete.
All the directors of the Company attended in person the Board meeting for the review of this
Report and its summary.
The Company has no interim dividend plan, either in the form of cash or stock.
Any plans for the future, development strategies and other forward-looking statements
mentioned in this Report and its summary shall NOT be considered as absolute promises of
the Company to investors. Therefore, investors are reminded to exercise caution when making
investment decisions. For further information, see “(X) Risks Facing the Company and
Countermeasures” in Part III herein.
This Report has been prepared as per the Chinese Accounting Standards for Business
Enterprises and other relevant regulations.
This Report and its summary have been prepared in both Chinese and English. Should there
be any discrepancies or misunderstandings between the two versions, the Chinese versions
shall prevail.
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BOE Technology Group Co., Ltd. Interim Report 2021
Table of Contents
Part I Important Notes, Table of Contents and Definitions ........................................................... 2
Part II Corporate Information and Key Financial Information ................................................... 6
Part III Management Discussion and Analysis ............................................................................. 10
Part IV Corporate Governance ...................................................................................................... 26
Part V Environmental and Social Responsibility .......................................................................... 28
Part VI Significant Events ............................................................................................................... 33
Part VII Share Changes and Shareholder Information ............................................................... 53
Part VIII Preferred Shares .............................................................................................................. 63
Part IX Bonds ................................................................................................................................... 64
Part X Financial Statements ........................................................................................................... 68
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BOE Technology Group Co., Ltd. Interim Report 2021
Documents Available for Reference
(I) The financial statements signed and sealed by the Company’s legal representative, President, Chief Financial Officer and head of
the financial department (equivalent to financial manager); and
(II) The originals of all the documents and announcements that the Company disclosed on www.cninfo.com.cn during the Reporting
Period.
All the above mentioned documents are available at the Board Secretary’s Office of the Company.
Chairman of the Board (signature): Mr. Chen Yanshun
Date of the Board’s approval of this Report: 27 August 2021
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BOE Technology Group Co., Ltd. Interim Report 2021
Definitions
Term Definition
“BOE”, the “Company”, the BOE Technology Group Co., Ltd. and its consolidated subsidiaries, except where the context
“Group” or “we” otherwise requires
The cninfo website http://www.cninfo.com.cn/
CSRC The China Securities Regulatory Commission
Microdisplay Microdisplay technology
LCD Liquid Crystal Display
AMOLED Active-matrix Organic Light Emitting Diode
OLED Organic Light Emitting Diode
Mini-LED Submillimeter Light Emitting Diode
P0.9 Point 0.9mm
AM Active matrix
Micro-LED Micro Light Emitting Diode
VR/AR Virtual Reality /Augmented Reality
TFT-LCD Thin Film Transistor Liquid Crystal Display
3C Computer, communication and consumer electronics
SID The Society for Information Display
IEC International Electrotechnical Commission
DIC Display Innovation China Expo
DIC AWARD Display Innovation China Award
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BOE Technology Group Co., Ltd. Interim Report 2021
Part II Corporate Information and Key Financial Information
I Corporate Information
Stock name BOE-A, BOE-B Stock code 000725, 200725
Changed stock name (if any) N/A
Stock exchange for stock listing Shenzhen Stock Exchange
Company name in Chinese 京东方科技集团股份有限公司
Abbr. (if any) 京东方
Company name in English (if any) BOE TECHNOLOGY GROUP CO., LTD.
Abbr. (if any) BOE
Legal representative Chen Yanshun
II Contact Information
Item Board Secretary Securities Representative
Name Liu Hongfeng Su Xuefei
12 Xihuan Middle Road, Beijing 12 Xihuan Middle Road, Beijing
Address Economic-Technological Development Area, Economic-Technological Development Area,
P.R.China P.R.China
Tel. 010－64318888 ext. 010－64318888 ext.
Fax 010－64366264 010－64366264
Email address liuhongfeng@boe.com.cn suxuefei@boe.com.cn
III Other Information
1. Contact Information of the Company
Indicate by tick mark whether any change occurred to the registered address, office address and their zip codes, website address and
email address of the Company in the Reporting Period.
□ Applicable √ Not applicable
No change occurred to the said information in the Reporting Period, which can be found in the 2020 Annual Report.
2. Media for Information Disclosure and Place where this Report is Lodged
Indicate by tick mark whether any change occurred to the information disclosure media and the place for keeping the Company’s
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BOE Technology Group Co., Ltd. Interim Report 2021
periodic reports in the Reporting Period.
□ Applicable √ Not applicable
The newspapers designated by the Company for information disclosure, the website designated by the CSRC for disclosing the
Company’s periodic reports and the place for keeping such reports did not change in the Reporting Period. The said information can
be found in the 2020 Annual Report.
IV Key Financial Information
Indicate by tick mark whether there is any retrospectively restated datum in the table below.
√ Yes □ No
Reason for retrospective restatement:
Other reason.
H1 2020 Change (%)
Item H1 2021
Before Restated Restated
Operating revenue (RMB) 107,285,327,026.00 60,867,073,506.00 56,751,329,065.00 89.04%
Net profit attributable to the listed
12,762,024,968.00 1,135,450,325.00 1,135,450,325.00 1,023.96%
company’s shareholders (RMB)
Net profit attributable to the listed
company’s shareholders before 11,661,616,772.00 -176,328,585.00 -176,328,585.00 —
exceptional gains and losses (RMB)
Net cash generated from/used in operating
32,745,188,339.00 9,716,675,534.00 9,716,675,534.00 237.00%
activities (RMB)
Basic earnings per share (RMB/share) 0.363 0.026 0.026 1,296.15%
Diluted earnings per share (RMB/share) 0.363 0.026 0.026 1,296.15%
Weighted average return on equity (%) 13.40% 1.05% 1.05% 12.35%
31 December 2020 Change (%)
Item 30 June 2021
Before Restated Restated
Total assets (RMB) 435,476,169,633.00 424,256,806,331.00 424,256,806,331.00 2.64%
Equity attributable to the listed company’s
111,945,985,236.00 103,276,766,835.00 103,276,766,835.00 8.39%
shareholders (RMB)
Quarterly operating revenue was restated according to the audited data, which had no impact on other financial indicators.
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BOE Technology Group Co., Ltd. Interim Report 2021
V Accounting Data Differences under China’s Accounting Standards for Business Enterprises
(CAS) and International Financial Reporting Standards (IFRS) and Foreign Accounting
Standards
1. Net Profit and Net Asset Differences under CAS and IFRS
□ Applicable √ Not applicable
No such differences for the Reporting Period.
2. Net Profit and Net Asset Differences under CAS and Foreign Accounting Standards
□ Applicable √ Not applicable
No such differences for the Reporting Period.
VI Exceptional Gains and Losses
√ Applicable □ Not applicable
Unit: RMB
Item Amount Note
Gain or loss on disposal of non-current assets (inclusive of impairment allowance write-offs) 147,769,658.00 N/A
Tax rebates, reductions and exemptions given with ultra vires approval or in lack of official
0.00 N/A
approval documents
Government subsidies charged to current profit or loss (exclusive of government subsidies given in
the Company’s ordinary course of business at fixed quotas or amounts as per the government’s 1,125,750,664.00 N/A
uniform standards)
Capital occupation charges on non-financial enterprises that are charged to current profit or loss 0.00 N/A
Gain 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
Gain or loss on non-monetary asset swaps 0.00 N/A
Gain or loss on assets entrusted to other entities for investment or management 0.00 N/A
Allowance for asset impairments due to acts of God such as natural disasters 0.00 N/A
Gain or loss on debt restructuring 0.00 N/A
Restructuring costs in staff arrangement, integration, etc. 0.00 N/A
Gain or loss on the over-fair value amount as a result of transactions with distinctly unfair prices 0.00 N/A
Current profit or loss on subsidiaries obtained in business combinations involving enterprises
0.00 N/A
under common control from the period-beginning to combination dates, net
Gain or loss 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 held-for-trading and derivative financial assets and liabilities 46,230,279.00 N/A
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BOE Technology Group Co., Ltd. Interim Report 2021
& income from disposal of held-for-trading and derivative financial assets and liabilities and other
investments in debt obligations (exclusive of the effective portion of hedges that arise in the
Company’s ordinary course of business)
Reversed portions of impairment allowances for accounts receivable and contract assets which are
12,706,456.00 N/A
tested individually for impairment
Gain or loss on loan entrustments 0.00 N/A
Gain or loss on fair-value changes in investment property of which subsequent measurement is
0.00 N/A
carried out using the fair value method
Effects of all adjustments required by taxation, accounting and other applicable laws and
0.00 N/A
regulations on current profit or loss
Income from charges on entrusted management 0.00 N/A
Non-operating income and expense other than the above 28,677,012.00 N/A
Other gains and losses that meet the definition of exceptional gain/loss 0.00 N/A
Less: Income tax effects 124,486,027.00 N/A
Non-controlling interests effects (net of tax) 136,239,846.00 N/A
Total 1,100,408,196.00 --
Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item defined or listed in the Explanatory
Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Gain/Loss
Items:
□ Applicable √ Not applicable
No such cases for the Reporting Period.
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BOE Technology Group Co., Ltd. Interim Report 2021
Part III Management Discussion and Analysis
I Principal Activity of the Company in the Reporting Period
(I) Principal Operations
Founded in April 1993, BOE Technology Group Co., Ltd. is an IoT company that provides smart ports and professional services for
information interaction and human health. After years of development, the Group has become a global leader in the semiconductor
display sector. The Company has established a "1+4+N" BG structure with display business as the core, which integrates MLED
business, Sensor and Solution business, Intelligence System and Innovation business, Smart Medical Engineering business and
extends to IoT scenarios and market segments such as Intelligent Car Networking, Smart Retail, Smart Finance, Smart Medicine and
Engineering, Industrial IoT, Smart Park, and Digital Art. The Company has established an industrial fund to build a safe, healthy and
competitive ecological chain finance and innovation investment platform. The Company has set up the Smart System Innovation
Center to facilitate cooperation between business groups and strategic partners to jointly create products and value for win-win
outcomes. For the first half of 2021, the Company recorded operating revenue of approximately RMB107.285 billion, up around
89.04% year-on-year; and a net profit attributable to the listed company’s shareholders of RMB12.762 billion, up 1,023.96%
year-on-year.
The specifics are as follows:
1. Display business
Display business offers TFT-LCD, AMOLED, Microdisplay and other intelligent interface devices designed and manufactured in an
integrated way, to create an integrated platform of semiconductor display panels, modules, whole products and services. Display
business provides customers with high-quality display devices such as smartphones, tablet PCs, laptops, monitors, TVs,
vehicle-mounted, electronic shelf label (ESL), tiled display screens, industrial control, wearable devices, VR/AR devices, electronic
tags, white goods, healthcare, mobile payment, and interactive whiteboards, as well as the most competitive intelligent services in 3C
display, smart IoT, system platform, and other fields.
2. Sensor and Solution business
Sensor and Solution business offers B2B customers integrated design and manufacturing services of sensor devices for use in
medical detection, household detection, communication & transportation, smart homes, etc., as well as sensor system solutions
regarding medical imaging, biological detection, smart screens, microwave communication, fingerprint identification and the like,
with products including flat panel X-ray detectors (FPXD), digital microfluidic chips, PDLC glass, fingerprint identification systems,
etc.
3. MLED business
MLED business renders Mini-LED backlight products with high reliability and high partition of dimming for LCD of mobile phones,
tablet PCs, laptops, monitors, TVs, vehicles, wearable devices, etc., as well as Mini/Micro-LED display products with high brightness,
high reliability and high contrast for segment markets of outdoor, commercial, transparent, specialized and other displays. All these
products are designed and manufactured in an integrated manner.
4. Intelligence System and Innovation business
Intelligence System and Innovation business offers overall system solutions under integrated design and backed by AI and big data,
such as smart finance, smart industrial parks, smart governments, smart office, smart transportation, city light space, smart energy
and other IoT solutions, for products and services combining hardware and software.
5. Smart Medical Engineering business
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BOE Technology Group Co., Ltd. Interim Report 2021
Smart Medical Engineering business adopts the professional healthcare service model to combine technologies with medicine and
integrate medicine and engineering with innovation, so as to provide families, communities and hospitals with the four core services
of health management, health technology, digital hospital, and technology services. The health IoT platform connects testing
equipment, medical workers and customers to build a smart health management ecosystem where customers enjoy health services
including prevention, treatment, therapy and nursing.
(II) Industry development
In the first half of the year, the semiconductor industry continued to improve, the industrial consolidation accelerated, resources were
further concentrated to leading enterprises. The COVID-19 has reshaped the way people live and work. Demand for applications
such as telecommuting, telemedicine, online education and online entertainment continues to grow. The continuous innovation of
LCD technology and the rapid development of new display technologies such as OLED and small spacing LED have boosted the
demand for new applications. Meanwhile, thanks to the continuous progress of 5G, AI, big data and other technologies, various
industries are undergoing digital transformation at a faster speed, which has brought great opportunities for the Company's IoT
transformation and development.
(III) Market position
1. Display business
Sales of display devices increased 18% year on year, and sales area increased 45% year on year. The market share of LCD
smartphones, tablet PCs, laptops, monitors and TVs continued to rank first in the world. The sales area of innovative application
devices increased by 66% year on year. The market share of electronic paper display devices continued to maintain above 60%. 3C
product sales increased by 38% year on year.
2. Sensor and Solution business
The sales of medical imaging in sensing business increased by 51% year on year, and the Company has made mass production and
shipped to global high-end medical device companies in Europe, the United States, Japan and South Korea. Smart screens have been
applied in subways in Beijing, Shenzhen, Qingdao and other places.
3. MLED business
MLED business saw rapid development, and the overall sales of the market share increased significantly. The world's first backlit
75-inch four-piece product of chip-on-glass was successfully mass-produced and delivered. Relying on chip-on-glass display process
and micron-level packaging process, the Company adopts the active driving mode, and the world's first glass-based active P0.9 direct
display products have the conditions for mass production.
4. Intelligence System and Innovation business
The smart whole products in smart systems innovation business have four series product lines, and the sales volume increased more
than twice year on year. A comprehensive management platform for smart outlets was built to boost smart finance, which has been
copied, promoted and applied. It has been successfully applied in the collective purchasing projects of ICBC Beijing, BOCOM Anhui,
Everbright Head Office and Huaxia Head Office. PSBC Wealth Center, Minsheng Head Office Smart Remote Banking and other
benchmarking projects have been created. Smart Part built a smart park digital platform and application platform, which has been
applied in some scenarios in Capital, Boda, Apartment Taupe, CITIC Pacific Plaza and other projects.
5. Smart Medical Engineering business
OASIS Hospital continued to make greater efforts to build market channels, and its outpatients and discharges grew by 86%and 55%
respectively year on year. The brand influence of Hefei Hospital was further enhanced, with its outpatients and growing by 131% and
123% respectively year on year. Smart medical care solutions of health technology have been implemented in Beijing, Chengdu and
other cities. A number of agents have been developed for gastric cancer gene methylation detection products. Regenerative medicine
cell storage has increased significantly.
(IV) Key performance drivers
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BOE Technology Group Co., Ltd. Interim Report 2021
1. Market condition
The domestic economy is gradually recovering and sees steady growth. The online economy stimulates the demand for consumer
electronics products. Benefited from the 14th Five-Year Plan, the digital economy has brought opportunities to the IoT scenarios,
such as IIOT, smart park and smart finance. The overseas pandemic is still severe, and the "contactless economy" characterized by
home living and telecommuting continues to drive the demand for display panels. The supply of raw materials such as driver IC and
chip-on-glass is tight, which affects the panel price to a certain extent.
2. The Company's operating capability
The Company's "1+4+N" BG structure further promoted steadily towards the goal of IoT innovation ecology, and all layers of
business showed a good momentum of coordinated development. Also, the Company enriched product categories and capacity
advantages to provide customers with competitive products and services. The Company established first-launch advantages in
multiple segments, improved the layout of core patents, and promoted innovation-driven development. BOE continued to improve
production line operation efficiency for lean management, so that its customer quality performance continued to stay ahead.
II Core Competitiveness Analysis
1. Excellent management team
Since the Company implemented the strategy of "conducting overseas acquisitions and taking root in domestic markets" and entered
the semiconductor display industry at a high starting point, it has developed into a leading enterprise in the industry after more than
20 years of concentrated efforts. The Company's management team has solid professional knowledge, rich industry experience,
leading management level and keen strategic vision. Thanks to their efforts, the Company continued to grow stronger in the
semiconductor display field, and grasped future development opportunities to firmly promote the Company's IoT transformation, and
rendered a lot of achievements. In the context of the complex global political and economic situation, repeated outbreaks and the
shortage of upstream resources and materials, the Company's management led the team to overcome difficulties and achieved
excellent results in the overall operation in the first half of the year, creating the best half-year performance in the history of the
Company.
2. Improved technology innovation system
The Company always respects technology and makes constant innovations, maintaining stable resource investment in technology
innovation. Through short- and medium-term technology R&D mechanism, the Company productizes technology rapidly. On this
basis, through the full research and judgment of the industry development, the Company actively lays out the forward-looking
technology direction and creates a dynamically iterative company-level technology innovation system to ensure that its technical
strength continues to lead the industry.
3. Abundant patent and technology innovation achievements
BOE continued to apply for and obtain more patents, with more than 4,500 new patent applications in the year. In particular, the
invention patent applications exceeded 90% and overseas patent applications exceeded 33%; patent applications in respect of OLED,
sensor, AI, big data and other fields exceeded 50%. New authorized patents amounted to 3,900, including over 1,200 overseas
patents. Besides, the Company led the formulation and revision of 36 external technical standards. The IEC international standard
Basic Rating and Characteristics of Flexible Display Devices and the national standard General Requirements for IoT Electronic Tag
System have been approved. The jointly formed group standard Technical Specification for Foldable Displays for Microcomputer
was officially released. The group standard Evaluation Specification for Artificial Intelligence Development Platform, which the
Company participated in, was officially released.
New breakthroughs have been made in technology application and innovation, and a number of products have been launched for the
first time worldwide. BOE's Flexible OLED sliding display won the SID Best Technology Demonstration award. The world's first
55-inch 4K AMQLED display prototype of the Company won DIC AWARD International Gold Award for Display Device
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BOE Technology Group Co., Ltd. Interim Report 2021
Innovation. Cadmium-free quantum dot top emitting device has stayed ahead in the industry in red and green efficiency, and has been
published in the international authoritative journal Nano Research. The world's first chip-on-glass active P0.9 direct display product
won two awards: CES 2021 Innovative Display Application of the Year and 2021 SID Best New Display Technology.
4. Leading lean management level and operational efficiency
BOE continuously optimized its operation mechanism, promoted the centralization and scale of products, and further enhanced the
efficiency of production lines. Chongqing Gen-8.5 LCD production line continued to miniaturize products and further improve the
production level. Beijing Gen-8.5 LCD production line, Fuzhou Gen-8.5 LCD production line, Nanjing Gen-8.5 LCD production line,
Chengdu Gen-8.6 LCD production line, Hefei Gen-10.5 LCD production line and Wuhan Gen-10.5 LCD production line hit a new
high by chips in a single month. In particular, since the acquisition of Nanjing Gen-8.5 LCD production line and Chengdu Gen-8.6
LCD production line, we have dug deeper into the potential of production lines, grasped market opportunities and successfully turned
losses into gains. The supply chain overcame the price increase of bulk commodities, and the tight supply of driver IC, polarizer,
glass and other upstream materials, repeated outbreaks and other adverse factors to ensure a stable supply of all materials. Beijing
Life Technology Industrial Base is in steady progress, and the renovation project of Suzhou Hospital has been basically completed.
BOE established the full life cycle with customer delivery value chain as the core, connected value chain with data chain and
continuously promoted the upgrading to digital operation.
5. Digital transformation
BOE is in the midst of a comprehensive digital transformation, with the top goal of building "a digital, visual BOE". The Company
promoted and implemented a series of digital change key measures to build an end-to-end digital management system of "agile
response, efficient coordination, and full coverage", so as to stimulate organizational vitality, strengthen IT system support, revitalize
data assets, and realize efficient digital operation. The Company continued to improve management efficiency and business
efficiency. At present, all digital change key projects are progressing in an orderly manner.
III Analysis of Core Businesses
See contents under the heading “I Principal Activity of the Company in the Reporting Period” above.
Year-on-year changes in key financial data:
Unit: RMB
Change
Item H1 2021 H1 2020 Main reason for change
(%)
Promising industry development, rise in prices of major
Operating
107,285,327,026.00 56,751,329,065.00 89.04% products, release of new capacity, and changes in the
revenue
consolidation scope
Cost of sales 73,745,889,031.00 47,153,846,668.00 56.39% Increase in operating revenue
Selling expense 2,295,502,342.00 1,450,825,484.00 58.22% Increase in operating revenue
Administrative
4,030,423,338.00 2,517,596,650.00 60.09% Increase in operating revenue
expense
New project going into operation, and changes in the
Finance costs 1,758,296,231.00 1,204,359,858.00 45.99%
consolidation scope
Income tax
2,260,425,038.00 495,807,024.00 355.91% Increase in profit
expense
R&D expense 5,929,786,929.00 3,924,151,095.00 51.11% Efforts to strengthen R&D
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BOE Technology Group Co., Ltd. Interim Report 2021
Net cash
generated
from/used in 32,745,188,339.00 9,716,675,534.00 237.00% Bigger business size with higher operating profit
operating
activities
Net cash
generated
Increase in construction expenditures for new projects
from/used in -21,314,532,961.00 -14,576,688,249.00 --
and investments inwealth management instruments
investing
activities
Net cash
generated Increase in expenditures on repurchase of non-controlling
from/used in -12,633,974,318.00 5,848,629,767.00 -316.02% interests, and decrease in renewable corporate bonds
financing issued
activities
Net increase in
cash and cash -1,723,109,268.00 1,336,418,453.00 -228.93% N/A
equivalents
Material changes to the profit structure or sources of the Company in the Reporting Period:
□ Applicable √ Not applicable
No such changes in the Reporting Period.
Breakdown of operating revenue:
Unit: RMB
H1 2021 H1 2020
As % of total As % of total
Item Change (%)
Operating revenue operating revenue Operating revenue operating revenue
(%) (%)
Total 107,285,327,026.00 100% 56,751,329,065.00 100% 89.04%
By operating division
Display business 104,673,381,879.00 97.57% 55,285,611,834.00 97.42% 89.33%
Intelligence System and
710,847,862.00 0.66% 454,883,859.00 0.80% 56.27%
Innovation business
Smart Medical
863,981,458.00 0.81% 704,620,573.00 1.24% 22.62%
Engineering business
MLED business 273,171,561.00 0.25% 0.00 0.00% —
Sensor and Solution
79,166,852.00 0.07% 62,999,853.00 0.11% 25.66%
business
Others and offset 684,777,414.00 0.64% 243,212,946.00 0.43% 181.55%
By product category
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BOE Technology Group Co., Ltd. Interim Report 2021
Display business 104,673,381,879.00 97.57% 55,285,611,834.00 97.42% 89.33%
Intelligence System and
710,847,862.00 0.66% 454,883,859.00 0.80% 56.27%
Innovation business
Smart Medical
863,981,458.00 0.81% 704,620,573.00 1.24% 22.62%
Engineering business
MLED business 273,171,561.00 0.25% 0.00 0.00% —
Sensor and Solution
79,166,852.00 0.07% 62,999,853.00 0.11% 25.66%
business
Others and offset 684,777,414.00 0.64% 243,212,946.00 0.43% 181.55%
By operating segment
Mainland China 49,456,134,518.00 46.10% 27,827,584,705.00 49.03% 77.72%
Other regions in Asia 44,033,957,730.00 41.04% 23,316,786,200.00 41.09% 88.85%
Europe 3,602,378,360.00 3.36% 2,114,536,683.00 3.73% 70.36%
America 10,094,599,107.00 9.41% 3,384,364,128.00 5.96% 198.27%
Other regions 98,257,311.00 0.09% 108,057,349.00 0.19% -9.07%
Note: In order to protect the Company’s core competitiveness and investors’ interests, as well as avoid the leakage of business secrets,
cost of sales is only presented with respect to the industry segment to which the Company belongs in the table below.
Operating division, product category or operating segment contributing over 10% of operating revenue or operating profit:
√ Applicable □ Not applicable
Unit: RMB
YoY change in YoY change
Gross profit YoY change in
Item Operating revenue Cost of sales operating in gross profit
margin cost of sales (%)
revenue (%) margin (%)
By operating division
Display
104,673,381,879.00 72,756,787,083.00 30.49% 89.33% 55.59% 15.07%
business
By product category
Display
104,673,381,879.00 72,756,787,083.00 30.49% 89.33% 55.59% 15.07%
business
By operating segment
Mainland
49,456,134,518.00 35,059,330,192.00 29.11% 77.72% 51.39% 12.33%
China
Other regions
44,033,957,730.00 28,963,326,982.00 34.23% 88.85% 50.91% 16.54%
in Asia
Core business data of the prior year restated according to the changed statistical caliber for the Reporting Period:
□ Applicable√ Not applicable
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BOE Technology Group Co., Ltd. Interim Report 2021
Reason for any over 30% YoY movements in the data above
√ Applicable □ Not applicable
The domestic economy is gradually recovering and sees steady growth. The online economy stimulates the demand for consumer
electronics products. Benefited from the 14th Five-Year Plan, digital economy has brought opportunities to the IoT scenarios, such as
IIOT, smart park and smart finance. The overseas pandemic is still severe, and the "contactless economy" characterized by home
living and telecommuting continues to drive the demand for display panels. The supply of raw materials such as driver IC and
chip-on-glass is tight, which affects the panel price to a certain extent. Sales of display devices increased 18% year on year, and sales
area increased 45% year on year. 3C product sales increased by 38% year on year. The sales area of innovative application devices
increased by 66% year on year. The revenue increased significantly.
IV Analysis of Non-Core Businesses
√ Applicable □ Not applicable
Unit: RMB
As % of profit
Item Amount Source/Reason Recurrent or not
before taxation
Return on
25,936,741.00 0.14% N/A Not
investment
Gain/loss on
changes in fair 37,887,125.00 0.20% N/A Not
value
Amount provided for inventory falling price
Asset impairments -2,307,446,795.00 -12.34% Not
impairment according to market conditions
Non-operating
48,115,802.00 0.26% N/A Not
income
Non-operating
21,548,141.00 0.12% N/A Not
expense
V Analysis of Assets and Liabilities
1. Material Changes in Asset Composition
Unit: RMB
30 June 2021 31 December 2020
Change in Reason for material
Item As % of As % of
Amount Amount percentage (%) change
total assets total assets
Monetary assets 71,388,786,223.00 16.39% 73,694,296,095.00 17.37% -0.98% N/A
Increase in operating
Accounts
36,105,667,536.00 8.29% 22,969,140,355.00 5.41% 2.88% revenue, and new
receivable
production line project
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BOE Technology Group Co., Ltd. Interim Report 2021
going into operation
Contract assets 42,346,704.00 0.01% 49,897,395.00 0.01% 0.00% N/A
Increase in operating
revenue, and new
Inventories 23,564,150,328.00 5.41% 17,875,454,490.00 4.21% 1.20%
production line project
going into operation
Investment
1,199,068,417.00 0.28% 1,196,168,511.00 0.28% 0.00% N/A
property
Long-term equity
3,455,420,187.00 0.79% 3,693,170,224.00 0.87% -0.08% N/A
investments
Fixed assets 224,483,239,199.00 51.55% 224,866,586,069.00 53.00% -1.45% N/A
Construction in 42,790,191,160.00
9.83% 42,575,849,952.00 10.04% -0.21% N/A
progress
Right-of-use
599,237,772.00 0.14% 0.00 0.00% 0.14% N/A
assets
Short-term
5,893,887,382.00 1.35% 8,599,569,471.00 2.03% -0.68% N/A
borrowings
Contract
3,513,356,959.00 0.81% 3,440,720,535.00 0.81% 0.00% N/A
liabilities
Long-term
132,226,258,609.00 30.36% 132,452,767,135.00 31.22% -0.86% N/A
borrowings
Lease liabilities 547,150,126.00 0.13% 0.00 0.00% 0.13% N/A
2. Major Assets Overseas
□ Applicable√ Not applicable
17
BOE Technology Group Co., Ltd. Interim Report 2021
3. Assets and Liabilities at Fair Value
√ Applicable □ Not applicable
Unit: RMB
Impairment
Gain/loss on fair-value Cumulative allowance
Beginning Purchased in the Sold in the Reporting
Item changes in the Reporting fair-value changes for the Other changes Ending amount
amount Reporting Period Period
Period charged to equity Reporting
Period
Financial assets
1.
Held-for-trading
financial assets
4,367,201,833.00 37,887,125.00 0.00 0.00 11,182,802,114.00 12,286,800,000.00 0.00 3,261,079,527.00
(excluding
derivative
financial assets)
2.Derivative
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
financial assets
3. Investments in
other debt 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
obligations
4. Investments in
other equity 533,645,423.00 0.00 -175,069,302.00 0.00 36,625,599.00 0.00 0.00 543,517,479.00
instruments
Subtotal of 11,219,427,713.00 0.00 3,804,597,006.00
4,900,847,256.00 37,887,125.00 -175,069,302.00 0.00 12,286,800,000.00
financial assets
Investment
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
property
Productive living 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
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BOE Technology Group Co., Ltd. Interim Report 2021
assets
Others 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total of the
4,900,847,256.00 37,887,125.00 -175,069,302.00 0.00 11,219,427,713.00 12,286,800,000.00 0.00 3,804,597,006.00
above
Financial
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
liabilities
Contents of other changes:
N/A
Significant changes to the measurement attributes of the major assets in the Reporting Period:
□ Yes √ No
19
BOE Technology Group Co., Ltd. Interim Report 2021
4. Restricted Asset Rights as at the Period-End
Item Ending carrying value Restriction reason
Monetary assets 4,898,511,123.00 As pledge for guarantee and as security deposits
Notes receivable 29,880,198.00 Endorsed with resource
Inventories 0.00 Naught
Fixed assets 159,026,382,261.00 As mortgage for guarantee
Intangible assets 1,636,495,867.00 As mortgage for guarantee
Construction in 11,680,731,138.00
As mortgage for guarantee
progress
Investment property 64,759,263.00 As mortgage for guarantee
Total 177,336,759,850.00 --
VI Investments Made
1. Total Investments Made
√ Applicable □ Not applicable
Investments made in this Reporting Period Investments made in the same period of last
Change（%）
(RMB) year (RMB)
796,092,446.00 347,061,271.00 129.38%
2. Significant Equity Investments Made in the Reporting Period
□ Applicable √ Not applicable
3. Significant Non-Equity Investments Ongoing in the Reporting Period
□ Applicable √ Not applicable
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BOE Technology Group Co., Ltd. Interim Report 2021
4. Financial Investments
(1) Securities Investments
√ Applicable □ Not applicable
Unit: RMB
Profit/los
s on fair
Initial Cumulative fair Purchase Sold in Profit/loss in
Variety of Code of Name of Accounting value Accountin Funding
Beginning value changes d in this this this Ending
investment measuremen changes
securities securities securities carrying value charged to Reporting Reportin Reporting carrying value g title source
t model in this
cost equity Period g Period Period
Reporting
Period
Other
Domestic/oversea SH60065 Electronic Fair value equity Self-funde
90,160,428.00 74,372,840.00 0.00 -31,596,972.00 0.00 0.00 1,924,620.00 58,563,456.00
s stock 8 Zone method instrument d
investment
Other
Bank of
Domestic/oversea 128,514,251.0 Fair value 102,845,668.0 108,382,711.0 equity Self-funde
HK01963 Chongqin 0.00 -20,131,540.00 0.00 0.00 9,378,620.00
s stock 0 method 0 0 instrument d
g
investment
Other
New
Domestic/oversea 134,067,764.0 Fair value -110,339,168.0 equity Self-funde
HK01518 Century 36,995,513.00 0.00 0.00 0.00 0.00 23,728,596.00
s stock 0 method 0 instrument d
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
352,742,443.0 214,214,021.0 -162,067,680.0 11,303,240.0 190,674,763.0
Total -- 0.00 0.00 0.00 -- --
0 0 0 0 0
Disclosure date of the announcement
N/A
about the board’s consent for the
21
BOE Technology Group Co., Ltd. Interim Report 2021
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
investment Actual
Purchased
Relationship Related-party Initial Beginning Sold in the Impairment Ending amount gain/loss in
Type of in the
Counterparty with the transaction investment Start date End date investment Reporting allowance investment as % of the the
derivative Reporting
Company or not amount amount Period (if any) amount Company’s Reporting
Period
ending net Period
asset value
Foreign
Financial Not related exchange 1 January 30 June
Not 118,687.93 118,687.93 37,581.89 42,572.06 -- 113,697.76 0.61% 47.69
institutions parties forward 2021 2021
contract
Total 118,687.93 -- -- 118,687.93 37,581.89 42,572.06 -- 113,697.76 0.61% 47.69
Funding source Self-funded
Legal matters involved (if applicable) N/A
Disclosure date of the announcement about the board’s
N/A
consent for the derivatives investment (if any)
Disclosure date of the announcement about the general
N/A
meeting’s consent for the derivatives investment (if any)
22
BOE Technology Group Co., Ltd. Interim Report 2021
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
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
operational and legal risks, etc.)
of cost locking and risk prevention.
Changes in market prices or fair value of derivative
investments in the Reporting Period (fair value analysis The fair value of the invested derivatives at the end of the reporting period shall be determined by reference to the market quotation of
should include measurement methods and related the external financial institutions.
assumptions and parameters)
Significant changes in accounting policies and specific
accounting principles adopted for derivative investments
No major changes
in the Reporting Period compared to the last reporting
period
Opinion of independent directors on derivative
N/A
investments and risk control
VII Sale of Major Assets and Equity Interests
1. Sale of Major Assets
□ Applicable √ Not applicable
No such cases in the Reporting Period.
2. Sale of Major Equity Interests
□ Applicable √ Not applicable
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BOE Technology Group Co., Ltd. Interim Report 2021
VIII Main Controlled and Joint Stock Companies
√ Applicable □ Not applicable
Main subsidiaries and joint stock companies with an over 10% influence on the Company’s net profit
Unit: RMB
Relationship
Name with the Principal activities Registered capital Total assets Net assets Operating revenue Operating profit Net profit
Company
Chongqing BOE Investment construction, R&D,
Optoelectronics Production, and sales of relevant
Subsidiary 19,226,000,000.00 41,725,990,096.00 31,927,026,573.00 14,875,276,392.00 4,963,768,253.00 4,120,374,990.00
Technology Co., products of TFT-LCD and its
Ltd. matching products.
Fuzhou BOE Investment construction, R&D,
Optoelectronics Production, and sales of relevant
Subsidiary 17,600,000,000.00 31,068,281,248.00 20,748,336,117.00 9,262,101,729.00 3,030,520,659.00 2,928,794,201.00
Technology Co., products of TFT-LCD and its
Ltd. matching products.
Beijing BOE
Display Development and production of
Subsidiary 17,882,913,500.00 43,592,700,793.00 22,046,389,040.00 22,101,088,507.00 2,721,209,816.00 2,294,526,934.00
Technology Co., TFT-LCD
Ltd.
Hefei BOE Investment construction, R&D, and
Display production of relevant products of
Subsidiary 24,000,000,000.00 42,790,838,081.00 23,251,900,230.00 10,056,857,841.00 2,117,781,713.00 2,117,875,480.00
Technology Co., TFT-LCD and its matching
Ltd. products.
Subsidiaries obtained or disposed in this Reporting Period
□ Applicable √ Not applicable
Information about major majority- and minority-owned subsidiaries:
Naught
24
BOE Technology Group Co., Ltd. Interim Report 2021
IX Structured Bodies Controlled by the Company
□ Applicable √ Not applicable
X Risks Facing the Company and Countermeasures
Macroeconomic environmental risks
In the first half of 2021, changes unseen in 100 years were accelerating, with COVID-19 outbreaks recurring and normalizing in some areas, instability and uncertainty in the external environment
significantly increasing. In such a context, competition and cooperation have become the main theme of future development among major countries. With global currency over-issue, the global
economy is expected to enter a period of economic upheaval based on fluctuations in the financial system. In the "14th Five-Year Plan", industry digitalization plays an important role in the
development of digital economy. While becoming a powerful engine for the development of the digital economy, it also mitigates the negative impact of the COVID-19 on the real economy and
brings opportunities to scenarios such as IIOT, smart park and smart finance. In this context, BOE kept optimizing its main business, continued to promote the IoT transformation strategy, persisted
in innovation-driven transformation and upgrading, accelerated the development of smart systems innovation, and focused on segment application scenarios to empower the IoT transformation in
the industry.
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BOE Technology Group Co., Ltd. Interim Report 2021
Part IV Corporate Governance
I Annual and Extraordinary General Meeting Convened during the Reporting Period
1. General Meetings Convened during the Reporting Period
Investor
Meeting Type participati Convened date Disclosure date Index to disclosed information
on ratio
Announcement on Resolution of the 1st
The 1st Extraordinary General Meeting of 2021
Extraordinary Extraordinary (2021-017) disclosed on China Securities
36.13% 26 February 2021 27 February 2021
General Meeting General Meeting Journal, Shanghai Securities News,
of 2021 Securities Times and Ta Kung Pao as well
as http://www.cninfo.com.cn.
Announcement on Resolution of the 2020
Annual General Meeting (2021-039)
The 2020 Annual Annual General disclosed on China Securities Journal,
32.31% 18 May 2021 19 May 2021
General Meeting Meeting Shanghai Securities News, Securities
Times and Ta Kung Pao as well as
http://www.cninfo.com.cn.
2. Extraordinary General Meetings Convened at the Request of Preference Shareholders with Resumed
Voting Rights
□ Applicable √ Not applicable
II Change of Directors, Supervisors and Senior Management
√Applicable □ Not applicable
Name Office title Type of change Date of change Reason for change
Zhang Yu Senior management Appointed 22 March 2021 Appointed
Wang Huacheng Independent director Left for term expiration 18 May 2021 Left for term expiration
Zhang Xinmin Independent director Elected 18 May 2021 Elected
III Interim Dividend Plan
□ Applicable √ Not applicable
The Company has no interim dividend plan, either in the form of cash or stock.
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BOE Technology Group Co., Ltd. Interim Report 2021
IV Equity Incentive Plans, Employee Stock Ownership Plans or Other Incentive Measures for
Employees
√ Applicable □ Not applicable
The Company disclosed the Announcement on the Resolution of the 15th Meeting of the 9th Board of Directors (Announcement No.:
2020-047) and the 2020 Stock Option and Restricted Stock Grant Program and other related announcements on 29 August 2020, in
which the Company intends to implement the Equity Incentive Scheme, including both the Stock Option Incentive Scheme and the
Restricted Stock Incentive Scheme. The source of the stock is the Company's A-shares repurchased from the secondary market. The
total stock options and restricted stock incentive plan stock interests shall not exceed 981,150,000 shares, including 639,900,000
stock options and 341,250,000 restricted stock shares, representing approximately 2.82% of the total 34,798,398,763 shares of the
Company's share capital at the time of the announcement of this draft incentive plan. On 30 October 2020, the Company received the
Approval on the Implementation of the Equity Incentive Scheme of BOE (J.G.Z. [2020] No. 77) from the State-owned Assets
Supervision and Administration Commission of People's Government of Beijing Municipality forwarded by Beijing Electronics
Holding Co., Ltd, the actual controller, and the State-owned Assets Supervision and Administration Commission of People's
Government of Beijing Municipality approved in principle the implementation of this incentive plan by the Company. The Company
disclosed the Announcement on the Adjustment of the List of Incentive Subjects and the Number of Equities Granted under the 2020
Stock Option and Restricted Stock Incentive Scheme (Announcement No.: 2020-081) and the Announcement on the First Grant of
Stock Options and Restricted Shares to Incentive Subjects (Announcement No.: 2020-082) on 22 December 2020 to determine that
the grant date/authorization date of the Incentive Scheme is 21 December 2020, and 596,229,700 stock options will be granted to
1,988 incentive recipients and 321,813,800 restricted shares will be granted to 793 incentive recipients. The Company disclosed the
Announcement on Completion of Registration of the First Grant of the 2020 Stock Option and Restricted Stock Incentive Scheme
(Announcement No.: 2020-086) on 31 December 2020. The conditions for the grant under the Incentive Scheme of the Company
have been fulfilled and the first registration of the grant has been completed. The completion date of the registration of the first grant
of options under the Stock Option Incentive Scheme was 25 December 2020. The option ticker was 037100 and the option ticker is
Eastern JLC1; the listing date of the restricted shares granted was 29 December 2020.
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BOE Technology Group Co., Ltd. Interim Report 2021
Part V Environmental and Social Responsibility
I Major Environmental Issues
Indicate by tick mark whether the Company or any of its subsidiaries is a heavily polluting business identified by the environmental protection authorities of China.
√ Yes □ No
Number of Discharge
Name of major Distribution of Discharge Total Approved total Excessive
Name of polluter Way of discharge discharge standards
pollutants discharge outlets concentration discharge discharge discharge
outlets implemented
Beijing BOE COD 47mg/L 500mg/L 65.887t 414.21t None
Optoelectronics Standard emission after being Northwest
Ammonia 1
Technology Co., treated by sewage treatment system corner of factory 5mg/L 45mg/L 6.857t 29.59t None
nitrogen
Ltd.
The 4.5 generation COD 123.68mg/L 500mg/L 65.97t 607.66t None
TFT-LCD
production line of
Standard emission after being North side of
Chengdu BOE Ammonia 1
treated by sewage treatment system factory 20.23mg/L 45mg/L 10.47t 54.69t None
Optoelectronics nitrogen
Technology Co.,
Ltd.
Hefei BOE COD 45.62 mg/L 380mg/L 84.48t 1081.55t None
Optoelectronics Standard emission after being Northwest
Ammonia 1
Technology Co., treated by sewage treatment system corner of factory 2.49 mg/L 30mg/L 4.61t 101.23t None
nitrogen
Ltd.
Beijing BOE COD Standard emission after being 1 (main East gate of 176mg/L 500mg/l 528.30t 1618.8t None
Display Technology Ammonia treated by sewage treatment system discharge factory 21.21mg/L 45mg/l 60.50t 134.4t None
28
BOE Technology Group Co., Ltd. Interim Report 2021
Co., Ltd. nitrogen outlet of
wastewater)
COD 1(S2 Phase II 24.17mg/L 500mg/l 2.00t 80.76t None
discharge
South gate of
Ammonia outlet of
dormitory area 24.42mg/L 45mg/l 1.91t 6.06t None
nitrogen sanitary
sewage)
Hefei Xinsheng COD 147mg/L 380mg/L 392.6t 3383.5375t None
Optoelectronics Standard emission after being Northeast gate
Ammonia 1
Technology Co., treated by sewage treatment system of factory 15.38mg/L 30mg/L 40.14t 267.1214t None
nitrogen
Ltd.
Erdos Yuansheng COD 68.88mg/L 500mg/L 47.01t 713.81t None
Standard emission after being North side of
Optoelectronics Co., Ammonia 1
treated by sewage treatment system factory 1.12mg/L 45mg/L 0.77t 76.82t None
Ltd. nitrogen
The 6th generation
flexible AMOLED COD 54.85mg/L 500mg/L 98.56t 2442.94t None
production line of
Standard emission after being North side of
Chengdu BOE 1
treated by sewage treatment system factory
Optoelectronics Ammonia
5.78 mg/L 45 mg/L 9.66t 203.53t None
Technology Co., nitrogen
Ltd.
Chongqing BOE COD 93.70mg/L 400mg/L 229.72t 1900.24t None
Optoelectronics Standard emission after being South side of
Ammonia 1
Technology Co., treated by sewage treatment system factory 5.32mg/L 30mg/L 13.06t 146.17t None
nitrogen
Ltd.
Hefei BOE Display COD 1 95.7mg/L 400mg/L 395.21t 1189.88t None
Standard emission after being North side of
Technology Co., Ammonia
treated by sewage treatment system factory 11.25mg/L 35mg/L 47.45t 118.98t None
Ltd. nitrogen
29
BOE Technology Group Co., Ltd. Interim Report 2021
Fuzhou BOE COD 90.61mg/L 500mg/L 44.22t 510.35t None
Optoelectronics Standard emission after being Northeast side
Ammonia 1
Technology Co., treated by sewage treatment system of factory 8.13mg/L 45 mg/L 1.13t 68.05t None
nitrogen
Ltd.
Mianyang BOE COD 31.31mg/L 500mg/L 56.83t 6911.3775t None
Optoelectronics Standard emission after being North side of
Ammonia 1
Technology Co., treated by sewage treatment system factory 1.99mg/L 45mg/L 3.61t 364.6771t None
nitrogen
Ltd.
Wuhan BOE COD 54.14mg/l 500mg/L 274.75t 391.7t None
Optoelectronics Standard emission after being Northeast corner
Ammonia 1
Technology Co., treated by sewage treatment system of factory 2.87mg/L 45mg/L 14.8t 19.6t None
nitrogen
Ltd.
Nanjing BOE COD 198.3mg/L 500mg/L 751.17t 2215.01t None
Standard emission after being South side of
Display Technology Ammonia 1
treated by sewage treatment system factory 7.59mg/L 45mg/L 28.62t 183.67t None
Co., Ltd. nitrogen
Chengdu CEC COD 195mg/L 500mg/L 558.18t 4310.1t None
Panda Display Standard emission after being Northwest
Ammonia 1
Technology Co., treated by sewage treatment system corner of factory 12 mg/L 45 mg/L 34.38t 148.8t None
nitrogen
Ltd.
COD 24.5mg/L 500mg/L 0.324t 13.554t None
Southeast side
BOE (Hebei) Ammonia
of factory 0.296mg/L 45mg/L 0.004t 1.01t None
Mobile Display nitrogen Discharged into sewage treatment
2
Technology Co., COD plant through municipal pipes 142mg/L 500mg/L 3.852t 74.937t None
Ltd. North side of
Ammonia
factory 4.93mg/L 45mg/L 0.128t 6.744t None
nitrogen
BOE Technology COD Standard emission after being Northwest 63.6mg/L 500mg/L 0.29t 11.114t None
1
Group Co., Ltd. Ammonia treated by sewage treatment system corner of factory 3.82mg/L 45mg/L 0.017t 0.341t None
30
BOE Technology Group Co., Ltd. Interim Report 2021
nitrogen
31
BOE Technology Group Co., Ltd. Interim Report 2021
Construction of pollution prevention equipment and operation condition
During the Reporting Period, the Company did not have any serious environmental problems. The Company builds sound
environment management systems and establishes the environment management organizations to supervise the overall environment
performance of the Company, work out the environment management objectives and related systems, conduct regular supervision
and instruction for the environment management of subordinate companies and push forward the implementation of environment
management.
Currently, the waste water which is generated by each subordinate enterprise of the Company can be divided in to industrial waste
water and household waste water. Rain water-waste water shunting system is adopted for drainage system to drain water separately
according to different natures. After collecting, the rain water is discharged into rain water pipeline of factory; after the rain water is
collected by rain water pipe network, the rain water is discharged. After being treated by sewage treatment system in factory,
industrial waste water is discharged into sewage treatment factory through municipal pipe network for intense treatment. Household
waste water comprises household fecal waste water and canteen oily waste water etc, after pretreatment, the waste water is
discharged into municipal sewage treatment factory. All industrial and household waste water is not discharged directly, and the
concentration and total amount of drainage satisfy the requirements of national and local relevant standards.
In additional, the exhaust gas which is emitted by each subordinate enterprise mainly comes from technology exhaust gas during
production process, generally including general exhaust gas, acid exhaust gas, alkaline exhaust gas, special exhaust gas and organic
exhaust gas etc. Various exhaust gas can be emitted after being treated by independent emission treatment system. The emission
concentration and total amount satisfy the national and local relevant standards.
“4R concept” for the use of materials has been used by the Company since 2007, that is recycle (Recycle), reduction (Reduce),
renewal (Renew) and responsibility (responsibly). The Company promises that the used materials are all in accordance with
requirements of national relevant environmental regulations and the registration, assessment, permission and restriction system of
chemicals. In additional, the Company promotes the recycle of package materials constantly. The waste materials which are
generated by each subordinate enterprise can be divided into general industrial solid waste, hazardous waste materials and household
waste materials, and they all handed over to qualified recycler for regular treatment. The disposal rate of hazardous waste materials is
100%.
The Company focuses on the recycle of water resource and advanced cleaning methods such as adverse cleaning etc are adopted for
processing equipment. Most high purity water and chemicals are recycled, reducing the consumption of high purity water, chemical
and other materials maximally and reducing the discharge of waste water and waste materials.
At present, each subordinate enterprise formulates various management methods such as water pollution management, air pollution
management standard, hazardous waste materials management standard, energy management standard etc. The methods specify the
operation and maintenance regulations and requirements of pollutant treatment system, establish regular monitoring and supervising
mechanism, in order to ensure the continuous stable operation of each system.
In recent years, the environmental emission index of the Company is up to national standards such as Sewage Comprehensive
Discharge Standard, Air Pollutant Comprehensive Emission Standard, Industrial Enterprise Environmental Noise Emission Standard
within Factory Boundary, etc and local standards. The Company will continue to promote the environmental management, devote to
forging green factory and improve environmental management level constantly.
Environmental Impact Assessment on Construction Project and Other Administrative Licenses for Environmental Protection
At present, corresponding environmental impact assessments have been conducted for all construction projects under the control of
the Company in conformity with applicable national and local laws and regulations, and corresponding administrative licenses have
also been obtained.
Contingency Plan for Emergent Environmental Incidents
The Company has formulated and filed corresponding contingency plan for emergent environmental incidents in the environmental
protection agency according to relevant requirements of local environmental protection bureaus. However, such contingency plan
32
BOE Technology Group Co., Ltd. Interim Report 2021
consists of comprehensive plan, special plan and on-site disposal plan, and involves various aspects such as waste water, exhaust gas,
hazardous wastes and dangerous chemicals etc. Meanwhile, drills must be conducted regularly.
Self-monitoring Plan
Currently, major pollutant-discharging units subordinated to the Company have worked out corresponding self-monitoring plan
according to relevant requirements put forward by the local environmental protection agency. The self-monitoring plans respectively
formulated by Beijing BOE Display Technology Co., Ltd. and Beijing BOE Optoelectronics Technology Co., Ltd. have been
published via Beijing Environmental Information Disclosure Platform for Enterprises and Institutions and the Company’s official
website.
Administrative penalties imposed for environmental issues during the Reporting Period
Name Reason Case Result Influence on production and operation Rectification measures
N/A N/A N/A N/A N/A N/A
Other environment information that should be disclosed
No
Other related environment protection information
The Company has set up a "Peak Emission" and "Carbon Neutrality" project team (including leading group, working group) and the
promotion groups of undertakings and organizations to clarify the composition of personnel and organizational responsibilities. The
on-site plant achieves the goal of energy-saving and emission reduction through the operation of the energy management system and
the incentive energy-saving program through refined management on the energy management platform. In the first half of 2021, 299
energy saving and emission reduction projects were carried out, including "CDA Partial Voltage, Voltage Reduction", "FFU Energy
Saving and Speed Reduction", "MAU Frequency Conversion Transformation", "PCW Free Cooling Energy Saving" and others. By
the end of June, about 103 million kWH of electricity and 183,800 cubic meters of natural gas had been saved, equivalent to a
reduction of greenhouse gas emissions by about 63,000 tons of CO2-e.
Meanwhile, in order to cope with the challenges and opportunities brought by carbon trading, BOE Beijing Factory takes the lead in
implementing carbon trading, actively carrying out carbon emission trading, CCER replacement quota and other work, to effectively
increase carbon reserves.
BOE fully considers design for recycling, universal design and minimal design of products in the product design stage, adheres to the
green management concept of the full life cycle of products, and follows the principles of minimizing energy and resource
consumption, minimizing the impact on the ecological environment and maximizing the recyclability.
In order to reduce the impact of the logistics transportation process on the environment, BOE and its partners constantly improve the
transportation management system, carry out reasonable layout and planning of transportation stations and routes, improve the
delivery efficiency, and reduce greenhouse gas emissions.
II Social Responsibility
The Company did not take any targeted measures to help people lift themselves out of poverty during the Reporting Period, also no
subsequent plans.
33
BOE Technology Group Co., Ltd. Interim Report 2021
Part VI Significant Events
1. Commitments of the Company’s Actual Controller, Shareholders, Related Parties and Acquirers, as well as the Company Itself and
other Entities Fulfilled in the Reporting Period or Ongoing at the Period-end
√ 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 - - - - - -
In accordance with the Announcement on
The Chairman of the Board:
the Commitments of not Reducing the
Mr. Chen Yanshun
Shareholding by Some Directors, During the term as
Vice Chairman of the Board:
Supervisors and Senior Management (No.: director, supervisor or
Mr. Liu Xiaodong Director:
2020-001) disclosed by the Company on 22 senior manager, and in
Ms. Sun Yun and Mr. Gao Other 21 February
Other commitments made to minority interests February 2020, some of the Company’s six months after the Ongoing
Wenbao commitments 2020
directors, supervisors and senior managers, expiration of the term
Supervisor: Mr. Xu
based on their confidence in the Company’s (the term determined
Yangping, Mr. He Daopin,
future development and their recognition of when taking office).
Mr. Yan Jun and Mr. Teng
the corporate value, promise not to reduce
Jiao
or transfer any shares held in BOE (A
34
BOE Technology Group Co., Ltd. Interim Report 2021
Senior Management: Mr. Yao shares), not to entrust others to manage
Xiangjun, Mr. Zhang specific shares, not to authorize others to
Zhaohong, Mr. Zhong execute their voting right by means of any
Huifeng, Ms. Feng Liqiong, agreement, trust or other arrangements and
Mr. Xie Zhongdong, Mr. not to require the Company to repurchase
Miao Chuanbin and Mr. Liu any specific shares during the terms of
Hongfeng office and within 6 months after their
tenures expire so as to promote the
Company’s continuous, stable and healthy
development and maintain the rights and
interests of the Company and all
shareholders. For any newly-added shares
derived from the assignment of rights and
interests including the share donation and
the reserved funds 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
N/A
on time and plans for next step (if any)
II 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.
35
BOE Technology Group Co., Ltd. Interim Report 2021
III Irregularities in the Provision of Guarantees
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IV Engagement and Disengagement of Independent Auditor
Are the interim financial statements audited?
□ Yes √ No
The interim financial statements have not been audited.
V Explanations Given by the Board of Directors and the Supervisory Committee Regarding the Independent Auditor's “Modified
Opinion” on the Financial Statements of the Reporting Period
□ Applicable √ Not applicable
VI Explanations Given by the Board of Directors Regarding the Independent Auditor's “Modified Opinion” on the Financial
Statements of Last Year
□ Applicable √ Not applicable
VII Insolvency and Reorganization
□ Applicable √ Not applicable
No such cases in the Reporting Period.
VIII Legal Matters
Significant lawsuits and arbitrations:
√ Applicable □ Not applicable
36
BOE Technology Group Co., Ltd. Interim Report 2021
Involved
General Disclosure Index to disclosed
amount Provision Progress Decisions and effects Execution of decisions
information date information
(RMB’0,000)
The first instance judgment result: I. The defendant (LETV For details, see
Mobile Intelligent Information Technology (Beijing) Co., Interim Report 2017
Ltd.) shall pay the plaintiff (BOE Technology (HK) of BOE Technology
The judgment of the first
Limited) the owed principal USD36,940,476.77 and the Group Co., Ltd.,
Disputes case of instance has taken effect. On 24 December 2020,
resulting interests (regarding the principal 2017 Annual Report,
sales contract BOE Technology (HK) the Beijing No. 3
USD12,871,274.5 as the interest basis from 8 September of BOE Technology
that BOE Limited has submitted the Intermediate People's
2016 to 1 March 2017, USD12,144,001.77 from 2 March Group Co., Ltd.,
Technology Application for Execution Court made an 29 August
2017 to the actual payment day, USD16,172,935 from 13 Interim Report 2018
(HK) Limited to Beijing Municipal High Application for 2017;
October 2016 to the actual payment day, USD8,488,690 of BOE Technology
sued LeTV People's Court. On 24 Execution that LeTV 24 April 2018;
from 10 November 2016 to the actual payment day, and Group Co., Ltd.,
Mobile December 2020, the Mobile Intelligent
US134,850 from 8 December 2016 to the actual payment 28 August 2018 Annual Report,
Intelligent Beijing No. 3 Intermediate Information
day; the annual interest rate shall be 6% (365 days) ), as 2018; of BOE Technology
Information People's Court made an Technology (Beijing)
well as the liquidated damages (regarding the principal 26 March Group Co., Ltd.,
Technology Application for Execution Co., Ltd, and LeTV
28,471.43 No USD2,052,248.71 as the basis from 30 April 2017 to 1 July 2019; Interim Report 2019
(Beijing) Co., that LeTV Mobile Holdings (Beijing)
2017, USD2,052,248.71 from May 31, 2017 to July 1, 27 August of BOE Technology
Ltd, LeTV Intelligent Information Co., Ltd. had been
2017, USD2,052,248.71 from 30 June 2017 to 1 July 2017, 2019; Group Co., Ltd.
Holdings Technology (Beijing) Co., included in the list of
and USD36,940,476.77 from July 2, 2017 to the actual 2019 Annual Report,
(Beijing) Co., Ltd, and LeTV Holdings defaulters, and the 28 April 2020;
payment day; the penalty standard was 0.03% per day); of BOE Technology
Ltd., Le Sai (Beijing) Co., Ltd. had court ruled to 29 August
under the Installment Payment Agreement within 10 days Group Co., Ltd.,
Mobile been included in the list of terminate this 2020; 13 April
after the judgment took effect; II. The defendant LETV Interim Report 2020
Technology defaulters, and the court enforcement because 2021.
Holdings (Beijing) Co., Ltd. shall burden the joint and of BOE Technology
(Beijing) Co., ruled to terminate this the defaulters had no
several guarantee for the debt owed by LETV Mobile Group Co., Ltd., and
Ltd. and Mr. enforcement because the property available for
Intelligent Information Technology (Beijing) Co., Ltd. 2020 Annual Report,
JiaYueting defaulters had no property execution.
Defined in the judgment (Item I); III. After the Defendant of BOE Technology
available for execution.
LETV Holdings (Beijing) Co., Ltd. burdens the joint and Group Co.,
several guarantee related to Item II, LETV Holdings Ltd.,disclosed on
(Beijing) Co., Ltd. shall have the right to claim www.cninfo.com.cn.
37
BOE Technology Group Co., Ltd. Interim Report 2021
compensation from LETV Mobile Intelligent Information
Technology (Beijing) Co., Ltd.; IV. 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 20 August 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; V. 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.
Other legal matters:
√ Applicable □ Not applicable
Involved amount Index to disclosed
General information Provision Progress Decisions and effects Execution of decisions Disclosure date
(RMB’0,000) information
Litigations for H1 2021
(including carryforwards in 15,216.83 No N/A N/A N/A N/A N/A
previous years )
38
BOE Technology Group Co., Ltd. Interim Report 2021
39
BOE Technology Group Co., Ltd. Interim Report 2021
IX Punishments and Rectifications
□ Applicable √ Not applicable
No such cases in the Reporting Period.
X Credit Quality of the Company as well as its Controlling Shareholder and De Facto
Controller
□ Applicable √ Not applicable
XI Major Related-Party Transactions
1. Continuing Related-Party Transactions
□ Applicable √ Not applicable
No such cases in the Reporting Period.
2. Related-Party Transactions Regarding Purchase or Sales of Assets or Equity Interests
□ Applicable √ Not applicable
No such cases in the Reporting Period.
3. Related Transactions Regarding Joint Investments in Third Parties
□ Applicable √ Not applicable
No such cases in the Reporting Period.
4. Amounts Due to and from Related Parties
□ Applicable √ Not applicable
No such cases in the Reporting Period.
5. Transactions with Related Finance Companies, or Finance Companies Controlled by the Company
□ Applicable √ Not applicable
The Company did not make deposits in, receive loans or credit from and was not involved in any other finance business with any
related finance company, finance company controlled by the Company or any other related parties.
6. Other Major Related-Party Transactions
√ Applicable □ Not applicable
Index to the public announcements about the said related-party transactions disclosed
Title of public announcement Disclosure date Disclosure website
40
BOE Technology Group Co., Ltd. Interim Report 2021
Announcement on Involvement in Related-party Transaction for Private Placement of 16 January 2021
www.cninfo.com.cn
A-shares
Announcement on the Prediction of 2021 Annual Routine Connected Transaction 13 April 2021 www.cninfo.com.cn
Announcement on Involvement in Related-party Transaction for Private Placement of 25 May 2021
www.cninfo.com.cn
A-shares (Revised)
XII Major Contracts and Execution thereof
1. Entrustment, Contracting and Leases
(1) Entrustment
□ Applicable √ Not applicable
No such cases in the Reporting Period.
(2) Contracting
□ Applicable √ Not applicable
No such cases in the Reporting Period.
(3) Leases
□ Applicable √ Not applicable
No such cases in the Reporting Period.
41
BOE Technology Group Co., Ltd. Interim Report 2021
2. Major Guarantees
√ Applicable □ Not applicable
Unit: RMB'0,000
Guarantees provided by the Company as the parent and its subsidiaries for external parties (exclusive of those for subsidiaries)
Guarantee
Disclosure date of Counter Having for a
Line of Actual Actual guarantee Type of
Obligor the guarantee line Collateral (if any) guarantee Term of guarantee expired related
guarantee occurrence date amount guarantee
announcement (if any) or not party or
not
N/A
Guarantees provided by the Company as the parent for its subsidiaries
Guarantee
Disclosure date of Counter Having for a
Line of Actual Actual guarantee Type of
Obligor the guarantee line Collateral (if any) guarantee Term of guarantee expired related
guarantee occurrence date amount guarantee
announcement (if any) or not party or
not
Ordos YuanSheng
17 March 2017 to 17 March
Optoelectronics 30 November 2016 543,671 15 March 2017 155,455 Joint-liability N/A N/A Not Not
2027
Co., Ltd.
Chengdu BOE
Optoelectronics 6 September 2017 to 6
24 April 2017 2,228,018 30 August 2017 2,071,497 Joint-liability N/A N/A Not Not
Technology Co., September 2029
Ltd.
Chengdu BOE
Optoelectronics Opening date of the letter of
24 April 2017 450,000 31 July 2017 91,850 Joint-liability N/A N/A Not Not
Technology Co., guarantee to 25 May 2027
Ltd.
42
BOE Technology Group Co., Ltd. Interim Report 2021
Chongqing BOE
Optoelectronics 29 September 5 November 2014 to 5
28 July 2014 1,376,225 127,371 Joint-liability N/A N/A Not Not
Technology Co., 2014 November 2024
Ltd.
The
secured
party
Hefei BOE Display
provides a 7 September 2017 to 7
Technology Co., 30 November 2016 1,620,572 30 August 2017 1,234,084 Joint-liability N/A Not Not
counter September 2027
Ltd.
guarantee
for the
guarantor
Fuzhou BOE
Optoelectronics 8 November 19 December 2016 to 19
9 December 2015 1,295,698 639,839 Joint-liability N/A N/A Not Not
Technology Co., 2016 December 2026
Ltd.
Fuzhou BOE
Opening date of the letter of
Optoelectronics 8 November
9 December 2015 300,000 48,000 Joint-liability N/A N/A guarantee to 24 September Not Not
Technology Co., 2016
2025
Ltd.
The
secured
party
Mianyang BOE
18 September provides a 26 September 2018 to 26
Optoelectronics 18 May 2018 2,064,573 1,885,662 Joint-liability N/A Not Not
2018 counter September 2031
Co., Ltd.
guarantee
for the
guarantor
43
BOE Technology Group Co., Ltd. Interim Report 2021
The
secured
party
Mianyang BOE Opening date of the letter of
provides a
Optoelectronics 18 May 2018 460,000 22 June 2018 137,000 Joint-liability N/A guarantee to 6 November Not Not
counter
Co., Ltd. 2027
guarantee
for the
guarantor
The
secured
party
Chongqing BOE
29 December provides a 31 December 2020 to 31
Display Technology 27 April 2020 1,975,927 759,829 Joint-liability N/A Not Not
2020 counter December 2033
Co., Ltd.
guarantee
for the
guarantor
The
secured
Wuhan BOE party
Optoelectronics provides a 23 August 2019 to 23
25 March 2019 1,952,865 16 August 2019 861,810 Joint-liability N/A Not Not
Technology Co., counter August 2032
Ltd. guarantee
for the
guarantor
The
Nanjing BOE secured
12 May 2021 to 31 May
Optoelectronics 23 September 2020 180,000 12 May 2021 135,000 Joint-liability N/A party Not Not
2027
Co., Ltd. provides a
counter
44
BOE Technology Group Co., Ltd. Interim Report 2021
guarantee
for the
guarantor
The
secured
party
Nanjing BOE
provides a 12 May 2021 to 6 June
Optoelectronics 23 September 2020 120,000 12 May 2021 120,000 Joint-liability N/A Not Not
counter 2026
Co., Ltd.
guarantee
for the
guarantor
The
secured
party
Chengdu BOE provides a 15 June 2020 to 30 June
27 April 2020 240,000 15 June 2020 115,309 Joint-liability N/A Not Not
Hospital Co., Ltd. counter 2042
guarantee
for the
guarantor
Total actual amount of such
Total approved line for such guarantees in
0 guarantees in the Reporting Period -1,235,976
the Reporting Period (B1)
(B2)
Total actual balance of such
Total approved line for such guarantees at
14,807,549 guarantees at the end of the 8,382,705
the end of the Reporting Period (B3)
Reporting Period (B4)
Guarantees provided between subsidiaries
Counter
Disclosure date of Line of Actual Actual guarantee Type of Having Guarantee
Obligor Collateral (if any) guarantee Term of guarantee
the guarantee line guarantee occurrence date amount guarantee expired for a
(if any)
45
BOE Technology Group Co., Ltd. Interim Report 2021
announcement or not related
party or
not
Guangtai Solar
20 December 20 December 2017 to 6
Energy Technology N/A 5,450 3,773 Joint-liability N/A N/A Not Not
2017 April 2029
(Suzhou) Co., Ltd.
Huanda Trading N/A 15 June 2017 to 16 March
14,600 24 May 2017 9,197 Joint-liability N/A N/A Not Not
(Hebei) Co., Ltd. 2031
Yangyuan N/A
Photovoltaic Power
30 September 30 September 2020 to 30
Generation 3,800 3,766 Joint-liability N/A N/A Not Not
2020 September 2034
(Huanggang) Co.,
Ltd.
Yaoguang New N/A
Energy 30 September 30 September 2020 to 30
3,600 3,568 Joint-liability N/A N/A Not Not
(Shouguang) Co., 2020 September 2034
Ltd.
Suzhou Industrial N/A
Park Taijing 30 September 30 September 2020 to 30
2,800 2,775 Joint-liability N/A N/A Not Not
Photovoltaic Co., 2020 September 2034
Ltd.
Qingmei Solar N/A
30 September 30 September 2020 to 30
Energy Technology 3,300 3,137 Joint-liability N/A N/A Not Not
2020 September 2034
(Lishui) Co., Ltd.
Qinghong Solar N/A
30 September 30 September 2020 to 30
Energy Technology 1,700 1,616 Joint-liability N/A N/A Not Not
2020 September 2034
(Jinhua) Co., Ltd.
Qinghui Solar N/A 1,100 30 September 1,046 Joint-liability N/A N/A 30 September 2020 to 30 Not Not
46
BOE Technology Group Co., Ltd. Interim Report 2021
Energy Technology 2020 September 2034
(Jinhua) Co., Ltd.
Hefei Hexu N/A
30 September 30 September 2020 to 30
Technology Co., 400 396 Joint-liability N/A N/A Not Not
2020 September 2034
Ltd.
Hefei Chenneng N/A
30 September 30 September 2020 to 30
Technology Co., 800 793 Joint-liability N/A N/A Not Not
2020 September 2034
Ltd.
Rongke New N/A
18 December 18 December 2017 to 18
Energy (Hefei) Co., 1,400 1,175 Joint-liability N/A N/A Not Not
2017 December 2032
Ltd.
Tianchi New N/A
18 December 18 December 2017 to 18
Energy (Hefei) Co., 1,100 920 Joint-liability N/A N/A Not Not
2017 December 2032
Ltd.
Qinghao Solar N/A
18 December 18 December 2017 to 18
Energy Technology 890 717 Joint-liability N/A N/A Not Not
2017 December 2032
(Jinhua) Co., Ltd.
Xiangqing Solar N/A
Energy Technology 18 December 18 December 2017 to 18
3,476 2,378 Joint-liability N/A N/A Not Not
(Dongyang) Co., 2017 December 2032
Ltd
Qingyue Solar N/A
18 December 18 December 2017 to 18
Energy Technology 960 657 Joint-liability N/A N/A Not Not
2017 December 2032
(Wuyi) Co., Ltd
Qingyou Solar N/A
18 December 18 December 2017 to 18
Energy Technology 2,210 1,801 Joint-liability N/A N/A Not Not
2017 December 2032
(Longyou) Co., Ltd
47
BOE Technology Group Co., Ltd. Interim Report 2021
Qingfan Solar N/A
18 December 18 December 2017 to 18
Energy Technology 1,855 1,269 Joint-liability N/A N/A Not Not
2017 December 2032
(Quzhou) Co., Ltd
Anhui BOE Energy N/A 27 December 27 December 2017 to 27
13,575 10,945 Joint-liability N/A N/A Not Not
Investment Co., Ltd 2017 December 2032
Taihang Electric N/A
3 December 2020 to 3
Power Technology 300 3 December 2020 291 Joint-liability N/A N/A Not Not
December 2034
(Ningbo) Co., Ltd
Guoji Energy N/A 3 December 2020 to 3
1,800 3 December 2020 1,746 Joint-liability N/A N/A Not Not
(Ningbo) Co., Ltd. December 2034
Hongyang Solar N/A
Energy Power 3 December 2020 to 3
2,500 3 December 2020 2,425 Joint-liability N/A N/A Not Not
Generation (Anji) December 2034
Co., Ltd.
Ke’en Solar Energy N/A
Power Generation 3 December 2020 to 3
1,600 3 December 2020 1,552 Joint-liability N/A N/A Not Not
(Pingyang) Co., December 2034
Ltd.
Dongze N/A
Photovoltaic Power
3 December 2020 to 3
Generation 1,400 3 December 2020 1,358 Joint-liability N/A N/A Not Not
December 2034
(Wenzhou) Co.,
Ltd.
Aifeisheng N/A
Investment and 3 December 2020 to 3
700 3 December 2020 679 Joint-liability N/A N/A Not Not
Management December 2034
(Wenzhou) Co, Ltd.
Beijing BOE N/A 12,800 23 October 2017 12,505 Pledge Charging right N/A 24 October 2017 to 23 Not Not
48
BOE Technology Group Co., Ltd. Interim Report 2021
Energy Technology October 2032
Co., Ltd.
Beijing BOE N/A
26 September 2018 to 21
Energy Technology 20,560 15 August 2018 16,400 Pledge Charging right N/A Not Not
December 2032
Co., Ltd.
Beijing BOE N/A
28 November 1 December 2017 to 1
Energy Technology 25,418 22,318 Pledge Charging right N/A Not Not
2017 December 2032
Co., Ltd.
Hengchuang New N/A
31 January 2018 to 31
Energy Technology 6,892 31 January 2018 5,521 Joint-liability N/A N/A Not Not
January 2033
(Hong’an) Co., Ltd.
Anhui BOE Energy N/A
25 April 2018 to 25 April
Investment Co., 2,060 25 April 2018 1,742 Joint-liability N/A N/A Not Not
2033
Ltd.
Junlong New N/A
25 April 2018 to 25 April
Energy Technology 8,459 25 April 2018 7,152 Joint-liability N/A N/A Not Not
2033
(Huaibin) Co., Ltd.
Shaoxing N/A
13 December 13 December 2018 to 12
Guangnian New 16,000 15,078 Joint-liability N/A N/A Not Not
2018 December 2033
Energy Co., Ltd.
Shaoxing Xuhui N/A
13 December 13 December 2018 to 12
New Energy Co., 4,500 4,241 Joint-liability N/A N/A Not Not
2018 December 2033
Ltd.
Hefei BOE Hospital 27 April 2018 to 27 April
27 April 2018 130,000 27 April 2018 110,500 Joint-liability N/A N/A Not Not
Co., Ltd. 2036
Total approved line for such guarantees in Total actual amount of such
0 1,411
the Reporting Period (C1) guarantees in the Reporting Period
49
BOE Technology Group Co., Ltd. Interim Report 2021
(C2)
Total actual balance of such
Total approved line for such guarantees at
298,005 guarantees at the end of the 253,435
the end of the Reporting Period (C3)
Reporting Period (C4)
Total guarantee amount (total of the three kinds of guarantees above)
Total guarantee line approved in the Reporting Total actual guarantee amount in the
0 -1,234,565
Period (A1+B1+C1) Reporting Period (A2+B2+C2)
Total actual guarantee balance at the
Total approved guarantee line at the end of the
15,105,554 end of the Reporting Period 8,636,140
Reporting Period (A3+B3+C3)
(A4+B4+C4)
Total actual guarantee amount (A4+B4+C4) as % of the Company’s net
77.15%
assets
Of which:
Balance of guarantees provided for shareholders, actual controller and
0
their related parties (D)
Balance of debt guarantees provided directly or indirectly for obligors
46,583
with an over 70% debt/asset ratio (E)
Amount by which the total guarantee amount exceeds 50% of the
3,038,841
Company’s net assets (F)
Total of the three amounts above (D+E+F) 3,038,841
Joint responsibilities possibly borne or already borne in the Reporting
N/A
Period for undue guarantees (if any)
Provision of external guarantees in breach of the prescribed procedures (if
N/A
any)
Compound guarantees
None
50
BOE Technology Group Co., Ltd. Interim Report 2021
3. Cash Entrusted for Wealth Management
√ Applicable □ Not applicable
Unit: RMB'0,000
Overdue amount
Amount Overdue
Specific type Capital resources Undue balance with provision for
incurred amount
impairment
Bank financial products and
Self-owned funds 501,500 261,000 0 0
structured deposit
Total 501,500 261,000 0 0
Note: Amount incurred refers to the maximum balance of cash entrusted for wealth management in the single day during the
Reporting Period
Particulars of entrusted cash management with single significant amount or low security, bad liquidity, and no capital preservation
□ Applicable √ Not applicable
Whether there is the case where the principal cannot be recovered at maturity or other case which may cause impairment for
entrusted asset management
□ Applicable √ Not applicable
4. Continuing Major Contracts
□ Applicable √ Not applicable
5. Other Major Contracts
□ Applicable √ Not applicable
No such cases in the Reporting Period.
XIII Other 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 publicly issued the renewable
corporate bonds (to qualified investors) (the third issue) (epidemic prevention and control bonds) (“20BOEY3” for short; Code:
51
BOE Technology Group Co., Ltd. Interim Report 2021
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 2020 "19BOEY1" Interest Payment Announcement (Announcement No. 2020-065)
on 22 October 2020. BOE Public Issuance of Renewable Corporate Bonds (to Qualified Investors) (the First Issue) in 2019 was one
year old until 29 October 2020. According to the regulations, interest will be paid once a year during the interest-bearing period. The
interest payment plan is RMB40.00 (including tax) per 10 bonds. 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 2021 "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) (pandemic prevention and control bonds) 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
52
BOE Technology Group Co., Ltd. Interim Report 2021
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, 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 for Non-Public Offering of A-Shares in 2021, and other related announcements, in which
the Company intends to make a non-public offering of A-shares to no more than 35 specific investors including Jing Guorui Fund. The
net fund raised was expected to be no more than 2 million. The raised funds will be used for "acquisition of 24.06% equity of Wuhan
BOE Optoelectronics Technology Co., Ltd.", "capital increase to Chongqing BOE Display Technology Co., Ltd. and construction of its
Gen-6 AMOLED (flexible) production line project", "capital increase to Yunnan Chuangshijie Optoelectronics Technology Co., Ltd.
and construction of its 12-inch silicon OLED project", "capital increase to Chengdu BOE Hospital and construction of Chengdu BOE
Hospital project", "repayment of Fuzhou Urban Construction Investment Group loan" and supplementation of working capital. On 22
June 2021, the Company disclosed the Announcement on the Approval of the Stock Issuance Examination and Verification Committee
of the China Securities Regulatory Commission on the Non-Public Offering of A-Shares (Announcement No. 2021-053), which tells
that the Stock Issuance Examination and Verification Committee of the China Securities Regulatory Commission reviewed the
application of BOE Technology Group Co., Ltd. for the non-public offering of A-shares on 21 June 2021. According to the examination
results of the meeting, the Company's application for the non-public offering of A Shares was approved. On 8 July 2021, the Company
disclosed the Announcement on the Approval of the China Securities Regulatory Commission for the Non-Public Offering of A-Shares
(Announcement No. 2021-054), which tells that the Company received the Reply on Approval of the Non-Public Offering of Shares by
BOE Technology Group Co., Ltd. (ZH.J.X.K. [2021] No. 2277) issued by the China Securities Regulatory Commission on 7 July 2021.
On 19 August 2021, the Company disclosed the Report on the Non-public Offering of A-shares by BOE Technology Group Co., Ltd. &
the Announcement on the Listing of these Shares (announcement No. 2021-058), along with other relevant announcements.
3,650,377,019 new shares were issued in the non-public offering, which were listed on the Shenzhen Stock Exchange on 20 August
2021.
4. On 28 May 2021, the Company disclosed the Announcement on the Implementation of Equity Distribution for the Year 2020
(Announcement No.: 2020-049), which tells that the Company's equity distribution plan for the year 2020 has been examined and
approved at the 2020 Annual General Meeting held on 18 May 2021. In the year 2020, the Company distributed profit to all
53
BOE Technology Group Co., Ltd. Interim Report 2021
shareholders at a rate of RMB1.00 per 10 shares, based on the deduction of the total capital of 34,770,212,630 shares held by the
Company through the buy-back account (wherein, the profit of B shares was paid by converting RMB into HKD at the central rate of
the exchange of RMB into HKD published by People's Bank of China on the first business day after the resolution of the General
Meeting of the Company), and the Company did not give any bonus shares or increase the capital by the provident fund.
Index to disclosure website
Overview of significant events Disclosure date
for interim report
Announcement on Intention to Purchasing Some Equity of the Subsidiary Wuhan 16 January 2021
www.cninfo.com.cn
BOE Optoelectronics Technology Co., Ltd.
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.
XIV Significant Events of Subsidiaries
□ Applicable √ Not applicable
54
BOE Technology Group Co., Ltd. Interim Report 2021
Part VII Share Changes and Shareholder Information
I Share Changes
1. Share Changes
Unit: share
Before Increase/decrease (+/-) After
Item Bonus issue
Number Percentage New issues Bonus shares Other Subtotal Number Percentage
from profit
I. Restricted shares 325,345,611 0.93% 0 0 0 -493,400 -493,400 324,852,211 0.93%
1. Shares held by the state 0 0.00% 0 0 0 0 0 0 0.00%
2. Shares held by state-owned
0 0.00% 0 0 0 0 0 0 0.00%
corporations
3. Shares held by other domestic
297,364,411 0.85% 0 0 0 -493,400 -493,400 296,871,011 0.85%
investors
Among which: Shares held by domestic
0 0.00% 0 0 0 0 0 0 0.00%
corporations
Shares held by domestic
297,364,411 0.85% 0 0 0 -493,400 -493,400 296,871,011 0.85%
individuals
4. Shares held by foreign investors 27,981,200 0.08% 0 0 0 0 0 27,981,200 0.08%
Among which: Shares held by foreign
0 0.00% 0 0 0 0 0 0 0.00%
corporations
Shares held by foreign
27,981,200 0.08% 0 0 0 0 0 27,981,200 0.08%
individuals
55
BOE Technology Group Co., Ltd. Interim Report 2021
II. Non-restricted shares 34,473,053,152 99.07% 0 0 0 493,400 493,400 34,473,546,552 99.07%
1. RMB ordinary shares 33,536,939,664 96.37% 0 0 0 493,400 493,400 33,537,433,064 96.38%
2. Domestically listed foreign shares 936,113,488 2.69% 0 0 0 0 0 936,113,488 2.69%
3. Overseas listed foreign shares 0 0.00% 0 0 0 0 0 0 0.00%
4. Other 0 0.00% 0 0 0 0 0 0 0.00%
III. Total shares 34,798,398,763 100.00% 0 0 0 0 0 34,798,398,763 100.00%
Reasons for share changes:
√ Applicable □ Not applicable
In accordance with the Guidance on Standard Operations of Listed Companies on Shenzhen Stock Exchange, the legal quota of transferable shares for Directors, Supervisors and senior
management of the Company shall be remeasured at the beginning of the year, resulting in a decrease of 493,400 shares in the locked shares of executives.
Approval of share changes:
□ Applicable √ Not applicable
Transfer of share ownership:
□ Applicable √ Not applicable
Progress on any share repurchase:
□ Applicable √ Not applicable
Progress on reducing the repurchased shares by means of centralized bidding:
□ Applicable √ Not applicable
Effects of share changes on the basic and diluted earnings per share, equity per share attributable to the Company’s ordinary shareholders and other financial indicators of the prior year and the
prior accounting period, respectively:
√ Applicable □ Not applicable
Item January-December 2020 January-June 2021
Basic earnings per share (RMB/share) 0.13 0.36
Diluted earnings per share (RMB/share) 0.13 0.36
Item 31 December 2020 30 June 2021
56
BOE Technology Group Co., Ltd. Interim Report 2021
Equity per share attributable to the Company’s ordinary shareholders 2.56 2.81
Other information that the Company considers necessary or is required by the securities regulator to be disclosed:
□ Applicable √ Not applicable
2. Changes in Restricted Shares
√ Applicable □ Not applicable
Unit: Share
Restricted shares amount Restricted shares relieved Restricted shares Restricted shares amount Restricted shares relieved
Name of the shareholders Restricted reasons
at the period-begin of the period increased of the period at the period-end date
Locked shares of Adjustment of legal quota
3,531,811 493,400 0 3,038,411 4 January 2021
executives for transferable shares
Total 3,531,811 493,400 0 3,038,411 -- --
II Issuance and Listing of Securities
√ Applicable □ Not applicable
Name of Stock and
issue price Approved amount Termination date for
derivative securities Issue date Issue amount Listing date Disclosure index Disclosure date
(interest) for listing trading
thereof
Stock
Non-public issued A share 12th Aug. 2021 5.57 3,650,377,019 20th Aug. 2021 3,650,377,019 - www.cninfo.com.cn 19th Aug. 2021
Convertible corporate bonds, convertible corporate bonds separately traded and corporate bonds
None
Other derivative securities
None
57
BOE Technology Group Co., Ltd. Interim Report 2021
Notes: None
III Shareholders and Their Holdings as at the Period-End
Number of ordinary shareholders at the period-end 1,448,425 (including 1,410,821 A-shareholders and 37,604 B-shareholders)
5% or greater ordinary shareholders or top 10 ordinary shareholders
Increase/decrease Restricted Shares in pledge, marked
Nature of Shareholding Total ordinary shares Unrestricted ordinary
Name of shareholder in the Reporting ordinary shares or frozen
shareholder percentage held at the period-end shares held
Period held Status Shares
Beijing State-owned Capital Operation and State-owned legal
11.68% 4,063,333,333 - 0 4,063,333,333 N/A 0
Management Center person
Hong Kong Securities Clearing Company Foreign legal N/A
5.96% 2,072,957,741 25,942,122 0 2,072,957,741 0
Ltd. person
Beijing BOE Investment & Development State-owned legal
2.36% 822,092,180 - 0 822,092,180 N/A 0
Co., Ltd. person
State-owned legal N/A
Hefei Jianxiang Investment Co., Ltd. 1.91% 666,195,772 -64,689,645 0 666,195,772 0
person
China Construction Bank-GF Technology
Pioneer Mixed Type Securities Investment Other 0.94% 327,197,639 -52,659,138 0 327,197,639 N/A 0
Fund
Chongqing Ezcapital Opto-electronics State-owned legal N/A
0.94% 326,229,746 -343,726,489 0 326,229,746 0
Industry Investment Co., Ltd. person
Beijing Yizhuang Investment Holdings Co., State-owned legal
0.81% 281,295,832 -83,411,066 0 281,295,832 N/A 0
Ltd person
State-owned legal N/A
Beijing Electronics Holdings Co., Ltd. 0.79% 273,735,583 - 0 273,735,583 0
person
58
BOE Technology Group Co., Ltd. Interim Report 2021
State-owned legal
Central Huijin Asset Management Co., Ltd. 0.71% 248,305,300 - 0 248,305,300 N/A 0
person
Foreign legal N/A
Norges Bank-Self-Owned Funds 0.71% 247,828,253 205,955,853 0 247,828,253 0
person
Strategic investors or general corporations
becoming top-ten ordinary shareholders due Naught
to placing of new shares (if any)
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-electronics Industry
Investment Co., Ltd, by entering into Implementation Protocol of Voting Right respectively, agreed to maintain all of the shares held by them
Related or acting-in-concert parties among respectively unanimous with Beijing BOE Investment & Development Co., Ltd. when executing the voting rights of the shareholders.
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.
1. After the non-public issuing of BOE in 2014, Hefei Jianxiang Investment Co., Ltd. and Chongqing Ezcapital Opto-electronics Industry
Investment Co., Ltd, by entering into Implementation Protocol of Voting Right respectively, agreed to maintain all of the shares held by them
Explain if any of the shareholders above respectively unanimous with Beijing BOE Investment & Development Co., Ltd. when executing the voting rights of the shareholders.
was involved in entrusting/being entrusted 2. After the non-public issuing of the Company in 2014, Beijing State-owned Capital Operation and Management Center handed over 70% of the
with voting rights or waiving voting rights 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.
Special account for share repurchases (if
Naught
any) among the top 10 shareholders
59
BOE Technology Group Co., Ltd. Interim Report 2021
Shareholdings of the top ten unrestricted ordinary shareholders
Shares by type
Name of shareholder Number of unrestricted ordinary shares held at the period-end
Type Shares
Beijing State-owned Capital Operation and
4,063,333,333 RMB ordinary share 4,063,333,333
Management Center
Hong Kong Securities Clearing Company
2,072,957,741 RMB ordinary share 2,072,957,741
Ltd.
Beijing BOE Investment & Development
822,092,180 RMB ordinary share 822,092,180
Co., Ltd.
Hefei Jianxiang Investment Co., Ltd. 666,195,772 RMB ordinary share 666,195,772
China Construction Bank-GF Technology
Pioneer Mixed Type Securities Investment 327,197,639 RMB ordinary share 327,197,639
Fund
Chongqing Ezcapital Opto-electronics
326,229,746 RMB ordinary share 326,229,746
Industry Investment Co., Ltd.
Beijing Yizhuang Investment Holdings Co.,
281,295,832 RMB ordinary share 281,295,832
Ltd
Beijing Electronics Holdings Co., Ltd. 273,735,583 RMB ordinary share 273,735,583
Central Huijin Asset Management Co., Ltd. 248,305,300 RMB ordinary share 248,305,300
Norges Bank-Self-Owned Funds 247,828,253 RMB ordinary share 247,828,253
1. Beijing State-owned Capital Operation and Management Center held 100% equities of Beijing Electronics Holdings Co., Ltd.
Related or acting-in-concert parties among 2. Beijing Electronics Holdings Co., Ltd. held 66.25% equities of Beijing BOE Investment & Development Co., Ltd. and was its controlling
top 10 unrestricted ordinary shareholders, as shareholder.
well as between top 10 unrestricted ordinary 3. After the non-public issuing of BOE in 2014, Hefei Jianxiang Investment Co., Ltd. and Chongqing Ezcapital Opto-electronics Industry
shareholders and top 10 shareholders Investment Co., Ltd., by entering into Implementation Protocol of Voting Right respectively, agreed to maintain all of the shares held by them
respectively unanimous with Beijing BOE Investment & Development Co., Ltd. when executing the voting rights of the shareholders.
60
BOE Technology Group Co., Ltd. Interim Report 2021
4. After the non-public issuing of the Company in 2014, Beijing State-owned Capital Operation and Management Center handed over 70% of the
shares directly held by it to Beijing Electronics Holdings Co., Ltd. for management through Stock Management Protocol, and Beijing Electronics
Holdings Co., Ltd. gained the incidental shareholders’ rights except for disposing right and usufruct of the shares, of which the rest 30% voting right
maintained unanimous with Beijing Electronics Holdings Co., Ltd. through the agreement according to Implementation Protocol of Voting Right.
5. Except for the above relationships, the Company does not know any other connected party or acting-in-concert party among the top 10
shareholders.
Top 10 ordinary shareholders involved in
Top 10 ordinary shareholders were not involved in securities margin trading. We are not aware of any shareholder engaging in securities financing.
securities margin trading (if any)
Indicate by tick mark whether any of the top 10 ordinary shareholders or the top 10 unrestricted ordinary shareholders of the Company conducted any promissory repo during the Reporting
Period.
□ Yes √ No
No such cases in the Reporting Period.
IV Change in Shareholdings of Directors, Supervisors and Senior Management
√ Applicable □ Not applicable
Restricted shares Restricted shares
Beginning Increase in the Decrease in the Ending Restricted shares granted
granted in the granted at the
Name Office title Incumbent/Former shareholding Reporting Reporting shareholding at the period-beginning
Reporting Period period-end
(share) Period (share) Period (share) (share) (share)
(share) (share)
Chairman of the Board,
Chen Yanshun Chief of Executive Incumbent 2,900,000 0 0 2,900,000 2,000,000 0 2,000,000
Committee
Pan Jinfeng Vice Chairman of the Board Incumbent 0 0 0 0 0 0 0
Vice Chairman of the Board,
Liu Xiaodong President, Vice Chairman of Incumbent 2,480,000 0 0 2,480,000 1,800,000 0 1,800,000
Executive Committee
Wang Director Incumbent 0 0 0 0 0 0 0
61
BOE Technology Group Co., Ltd. Interim Report 2021
Chenyang
Song Jie Director Incumbent 0 0 0 0 0 0 0
Director, member of
Executive Committee,
Sun Yun Incumbent 1,989,481 0 0 1,989,481 1,500,000 0 1,500,000
Executive vice president,
CFO
Director, member of
Executive Committee,
Gao Wenbao Incumbent 1,860,700 0 0 1,860,700 1,500,000 0 1,500,000
Executive vice president,
CEO of the Display business
Li Yantao Director Incumbent 0 0 0 0 0 0 0
Hu Xiaolin Independent director Incumbent 0 0 0 0 0 0 0
Li Xuan Independent director Incumbent 0 0 0 0 0 0 0
Tang Shoulian Independent director Incumbent 0 0 0 0 0 0 0
Zhang Xinmin Independent director Incumbent 0 0 0 0 0 0 0
Yang Chairman of the Supervisory
Incumbent 0 0 0 0 0 0 0
Xiangdong Committee
Xu Tao Supervisor Incumbent 0 0 0 0 0 0 0
Wei Shuanglai Supervisor Incumbent 0 0 0 0 0 0 0
Chen Xiaobei Supervisor Incumbent 0 0 0 0 0 0 0
Shi Hong Supervisor Incumbent 0 0 0 0 0 0 0
Xu Yangping Employee supervisor Incumbent 35,000 0 0 35,000 0 0 0
He Daopin Employee supervisor Incumbent 32,600 0 0 32,600 0 0 0
Yan Jun Employee supervisor Incumbent 32,000 0 0 32,000 0 0 0
Teng Jiao Employee supervisor Incumbent 55,200 0 0 55,200 0 0 0
62
BOE Technology Group Co., Ltd. Interim Report 2021
Member of Executive
Yao Xiangjun Committee, Executive vice Incumbent 1,265,000 0 0 1,265,000 1,000,000 0 1,000,000
president
Member of Executive
Zhang Committee, Executive vice
Incumbent 1,498,800 0 0 1,498,800 1,000,000 0 1,000,000
Zhaohong president, CEO of MLED
business
Member of Executive
Committee, Executive vice
Zhong Huifeng Incumbent 1,310,000 0 0 1,310,000 1,000,000 0 1,000,000
president, Chief Performance
Officer
Member of Executive
Feng Liqiong Committee, Executive vice Incumbent 1,360,000 0 0 1,360,000 1,000,000 0 1,000,000
president, lead counsel
Member of Executive
Xie Committee, Senior vice
Incumbent 1,057,000 0 0 1,057,000 750,000 0 750,000
Zhongdong president, Auditor General,
Chief Risk Officer
Member of Executive
Miao
Committee, vice president, Incumbent 758,800 0 0 758,800 650,000 0 650,000
Chuanbin
Chief Culture Officer
Vice president, Chief Human
Zhang Yu Incumbent 751,600 0 0 751,600 634,000 0 634,000
Resource Officer
Vice president, Secretary of
Liu Hongfeng Incumbent 1,024,500 0 0 1,024,500 750,000 0 750,000
the Board
Wang
Independent director Former 0 0 0 0 0 0 0
Huacheng
63
BOE Technology Group Co., Ltd. Interim Report 2021
Total -- -- 18,410,681 0 0 18,410,681 13,584,000 0 13,584,000
V Change of the Controlling Shareholder or the De Facto Controller
Change of the controlling shareholder in the Reporting Period
□ Applicable √ Not applicable
No such cases in the Reporting Period.
Change of the de facto controller in the Reporting Period
□ Applicable √ Not applicable
No such cases in the Reporting Period.
64
BOE Technology Group Co., Ltd. Interim Report 2021
Part VIII Preference Shares
□ Applicable √ Not applicable
No preference shares in the Reporting Period.
65
BOE Technology Group Co., Ltd. Interim Report 2021
Part IX Bonds
√ Applicable □ Not applicable
I Enterprise Bonds
□ Applicable √ Not applicable
No enterprise bonds in the Reporting Period.
II Corporate Bonds
√ Applicable □ Not applicable
1. Basic Information of the Corporate Bonds
Balance Coupo
Bond name Abbr. Bond code Date of issue Value date Maturity Way of redemption Trade place
(RMB’0,000) n rate
If the issuer does not execute its
right in the deferred interest
2019 Public Offering of
payment, corresponding
Renewable Corporate
interests shall be paid for this
Bonds of BOE (for 19BOEY1 112741 28 October 2019 29 October 2019 29 October 2022 8,000,000,000.00 4.00% SZSE
issue of bonds yearly, and the
qualified investors)
last installment of interest shall
(Phase I)
be paid with the redemption of
principal.
2020 Public Offering of If the issuer does not execute its
20BOEY1 149046 27 February 2020 28 February 2020 28 February 2023 2,000,000,000.00 3.64% SZSE
Renewable Corporate right in the deferred interest
66
BOE Technology Group Co., Ltd. Interim Report 2021
Bonds of BOE (for payment, corresponding
qualified investors) interests shall be paid for this
(Phase I) (epidemic issue of bonds yearly, and the
prevention and control last installment of interest shall
bonds) be paid with the redemption of
principal.
If the issuer does not execute its
2020 Public Offering of
right in the deferred interest
Renewable Corporate
payment, corresponding
Bonds of BOE (for
interests shall be paid for this
qualified investors) 20BOEY2 149065 18 March 2020 19 March 2020 19 March 2023 2,000,000,000.00 3.54% SZSE
issue of bonds yearly, and the
(Phase II) (epidemic
last installment of interest shall
prevention and control
be paid with the redemption of
bonds)
principal.
If the issuer does not execute its
2020 Public Offering of
right in the deferred interest
Renewable Corporate
payment, corresponding
Bonds of BOE (for
interests shall be paid for this
qualified investors) 20BOEY3 149108 24 April 2020 27 April 2020 27 April 2023 2,000,000,000.00 3.50% SZSE
issue of bonds yearly, and the
(Phase III) (epidemic
last installment of interest shall
prevention and control
be paid with the redemption of
bonds)
principal.
Appropriate arrangement of the investors (if any) Only for the qualified investors
Applicable trade mechanism centralized bidding trade and negotiated block trade
Risk of delisting (if any) and countermeasures Not
Overdue bonds
□ Applicable √ Not applicable
67
BOE Technology Group Co., Ltd. Interim Report 2021
2. The Trigger and Execution of the Option Clause of the Issuers or Investors and the Investor Protection
Clause
□ Applicable √ Not applicable
3. Adjustment of Credit Rating Results during the Reporting Period
□ Applicable √ Not applicable
4. Execution and Changes of Guarantee, Repayment Plan and Other Repayment Guarantee Measures as
well as Influence on Equity of Bond Investors during the Reporting Period
□ Applicable √ Not applicable
III Debt Financing Instruments of Non-financial Enterprises
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IV Convertible Corporate Bonds
□ Applicable √ Not applicable
No such cases in the Reporting Period.
V Losses of Scope of Consolidated Financial Statements during the Reporting Period
Exceeding 10% of Net Assets up the Period-end of Last Year
□ Applicable √ Not applicable
VI The Major Accounting Data and the Financial Indicators of the Recent 2 Years of the
Company up the Period-end
Unit: RMB’0,000
Item 30 June 2021 31 December 2020 Change
Current ratio 1.37 1.23 0.14
Debt/asset ratio 57.31% 59.13% -1.82%
Quick ratio 1.15 1.06 0.09
Item H1 2021 H1 2020 Change
Net profit after deducting non-recurring profit or loss 1,166,161.68 -17,632.86 -
Total debt ratio of EBITDA 23.75% 9.09% 14.66%
Times interest earned 8.02 1.27 531.50%
68
BOE Technology Group Co., Ltd. Interim Report 2021
Times interest earned of cash 12.03 6.03 99.50%
EBITDA-to-interest coverage (times) 14.27 5.37 165.74%
Loan repayment rate 100.00% 100.00% 0.00%
Interest coverage 100.00% 100.00% 0.00%
69
BOE Technology Group Co., Ltd. Interim Report 2021
Part X Financial Statements
I Independent Auditor’s Report
Are these interim financial statements audited by an independent auditor?
□ Yes √ No
The interim financial statements of the Company have not been audited.
II Financial Statements
Currency unit for the financial statements and the notes thereto: RMB
1. Consolidated Balance Sheet
Prepared by BOE Technology Group Co., Ltd.
Unit: RMB
Item 30 June 2021 31 December 2020
Current assets:
Monetary assets 71,388,786,223.00 73,694,296,095.00
Settlement reserve 0.00 0.00
Interbank loans granted 0.00 0.00
Held-for-trading financial assets 2,654,184,080.00 4,367,201,833.00
Derivative financial assets 0.00 0.00
Notes receivable 174,208,779.00 215,994,373.00
Accounts receivable 36,105,667,536.00 22,969,140,355.00
Accounts receivable financing 0.00 0.00
Prepayments 1,060,535,364.00 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 700,859,352.00 658,114,833.00
Including: Interest receivable 859,163.00 2,037,452.00
Dividends receivable 11,322,356.00 1,842,137.00
Financial assets purchased under resale agreements 0.00 0.00
Inventories 23,564,150,328.00 17,875,454,490.00
Contract assets 42,346,704.00 49,897,395.00
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BOE Technology Group Co., Ltd. Interim Report 2021
Assets held for sale 0.00 186,892,645.00
Current portion of non-current assets 0.00 0.00
Other current assets 6,141,435,729.00 7,848,869,252.00
Total current assets 141,832,174,095.00 128,985,457,255.00
Non-current assets:
Loans and advances to customers 0.00 0.00
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 3,455,420,187.00 3,693,170,224.00
Investments in other equity instruments 543,517,479.00 533,645,423.00
Other non-current financial assets 606,895,447.00 0.00
Investment property 1,199,068,417.00 1,196,168,511.00
Fixed assets 224,483,239,199.00 224,866,586,069.00
Construction in progress 42,790,191,160.00 42,575,849,952.00
Productive living assets 0.00 0.00
Oil and gas assets 0.00 0.00
Right-of-use assets 599,237,772.00 0.00
Intangible assets 11,350,958,890.00 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 612,527,937.00 299,634,100.00
Deferred income tax assets 70,100,453.00 205,041,088.00
Other non-current assets 6,532,481,355.00 8,624,970,019.00
Total non-current assets 293,643,995,538.00 295,271,349,076.00
Total assets 435,476,169,633.00 424,256,806,331.00
Current liabilities:
Short-term borrowings 5,893,887,382.00 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 385,911,481.00 1,231,533,895.00
Accounts payable 34,521,121,643.00 27,164,171,682.00
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BOE Technology Group Co., Ltd. Interim Report 2021
Advances from customers 214,642,319.00 124,040,749.00
Contract liabilities 3,513,356,959.00 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
Employee benefits payable 4,604,350,859.00 3,758,623,797.00
Taxes payable 2,004,711,367.00 1,077,686,869.00
Other payables 28,133,475,807.00 32,867,709,024.00
Including: Interest payable 722,695.00 1,946,267.00
Dividends payable 20,495,428.00 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 21,084,862,787.00 24,500,550,121.00
Other current liabilities 2,895,601,630.00 2,194,716,852.00
Total current liabilities 103,251,922,234.00 104,959,322,995.00
Non-current liabilities:
Insurance contract reserve 0.00 0.00
Long-term borrowings 132,226,258,609.00 132,452,767,135.00
Bonds payable 389,542,003.00 398,971,739.00
Including: Preferred shares 0.00 0.00
Perpetual bonds 0.00 0.00
Lease liabilities 547,150,126.00 0.00
Long-term payables 1,414,366,149.00 2,114,175,683.00
Long-term employee benefits payable 0.00 0.00
Provisions 0.00 0.00
Deferred income 5,808,303,532.00 4,246,231,468.00
Deferred income tax liabilities 1,566,679,732.00 1,427,601,154.00
Other non-current liabilities 4,376,989,047.00 5,260,001,443.00
Total non-current liabilities 146,329,289,198.00 145,899,748,622.00
Total liabilities 249,581,211,432.00 250,859,071,617.00
Owners’ equity:
Share capital 34,798,398,763.00 34,798,398,763.00
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BOE Technology Group Co., Ltd. Interim Report 2021
Other equity instruments 14,198,004,550.00 14,146,997,427.00
Including: Preferred shares 0.00 0.00
Perpetual bonds 14,198,004,550.00 14,146,997,427.00
Capital reserves 37,061,892,606.00 37,435,655,934.00
Less: Treasury stock 1,036,298,508.00 1,036,298,508.00
Other comprehensive income -92,233,937.00 -22,198,072.00
Specific reserve 0.00 0.00
Surplus reserves 2,448,578,058.00 2,444,416,669.00
General reserve 0.00 0.00
Retained earnings 24,567,643,704.00 15,509,794,622.00
Total equity attributable to owners of the Company as the parent 111,945,985,236.00 103,276,766,835.00
Non-controlling interests 73,948,972,965.00 70,120,967,879.00
Total owners’ equity 185,894,958,201.00 173,397,734,714.00
Total liabilities and owners’ equity 435,476,169,633.00 424,256,806,331.00
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 30 June 2021 31 December 2020
Current assets:
Monetary assets 3,241,883,218.00 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 5,020,452,900.00 3,974,212,308.00
Accounts receivable financing 0.00 0.00
Prepayments 18,955,784.00 12,185,651.00
Other receivables 15,731,631,758.00 16,345,474,583.00
Including: Interest receivable 0.00 0.00
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BOE Technology Group Co., Ltd. Interim Report 2021
Dividends receivable 60,055,861.00 460,261,502.00
Inventories 16,731,575.00 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 130,356,135.00 177,761,718.00
Total current assets 24,160,011,370.00 24,903,753,553.00
Non-current assets:
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 194,551,663,624.00 182,135,057,208.00
Investments in other equity instruments 65,383,488.00 81,192,872.00
Other non-current financial assets 0.00 0.00
Investment property 266,369,185.00 271,212,241.00
Fixed assets 963,707,906.00 1,009,178,229.00
Construction in progress 521,114,957.00 418,343,961.00
Productive living assets 0.00 0.00
Oil and gas assets 0.00 0.00
Right-of-use assets 192,073,868.00 0.00
Intangible assets 1,298,636,272.00 1,380,069,827.00
Development costs 0.00 0.00
Goodwill 0.00 0.00
Long-term prepaid expense 445,924,350.00 105,439,681.00
Deferred income tax assets 0.00 0.00
Other non-current assets 2,407,367,504.00 2,611,437,988.00
Total non-current assets 200,712,241,154.00 188,011,932,007.00
Total assets 224,872,252,524.00 212,915,685,560.00
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 46,140,862.00 272,241,469.00
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BOE Technology Group Co., Ltd. Interim Report 2021
Advances from customers 47,151,929.00 18,286,458.00
Contract liabilities 0.00 0.00
Employee benefits payable 174,269,129.00 516,060,153.00
Taxes payable 122,577,256.00 87,179,892.00
Other payables 4,759,539,130.00 6,541,918,681.00
Including: Interest payable 0.00 0.00
Dividends payable 6,532,990.00 6,451,171.00
Liabilities directly associated with assets held for sale 0.00 0.00
Current portion of non-current liabilities 7,714,623,351.00 7,847,210,073.00
Other current liabilities 61,588,923.00 1,977,977.00
Total current liabilities 12,925,890,580.00 15,284,874,703.00
Non-current liabilities:
Long-term borrowings 39,811,547,455.00 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 210,519,756.00 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 3,182,733,030.00 3,633,342,446.00
Deferred income tax liabilities 383,326,196.00 385,697,604.00
Other non-current liabilities 69,486,661,807.00 56,156,661,805.00
Total non-current liabilities 113,074,788,244.00 98,536,415,976.00
Total liabilities 126,000,678,824.00 113,821,290,679.00
Owners’ equity:
Share capital 34,798,398,763.00 34,798,398,763.00
Other equity instruments 14,198,004,550.00 14,146,997,427.00
Including: Preferred shares 0.00 0.00
Perpetual bonds 14,198,004,550.00 14,146,997,427.00
Capital reserves 37,009,636,632.00 36,696,079,366.00
Less: Treasury stock 1,036,298,508.00 1,036,298,508.00
Other comprehensive income -28,652,968.00 90,713,133.00
Specific reserve 0.00 0.00
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BOE Technology Group Co., Ltd. Interim Report 2021
Surplus reserves 2,448,578,058.00 2,444,416,669.00
Retained earnings 11,481,907,173.00 11,954,088,031.00
Total owners’ equity 98,871,573,700.00 99,094,394,881.00
Total liabilities and owners’ equity 224,872,252,524.00 212,915,685,560.00
3. Consolidated Income Statement
Unit: RMB
Item H1 2021 H1 2020
1. Revenue 107,285,327,026.00 56,751,329,065.00
Including: Operating revenue 107,285,327,026.00 56,751,329,065.00
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 87,626,534,237.00 56,083,675,871.00
Including: Cost of sales 73,745,889,031.00 47,153,846,668.00
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 reserve 0.00 0.00
Expenditure on policy dividends 0.00 0.00
Reinsurance premium expense 0.00 0.00
Taxes and surcharges 793,904,356.00 512,614,113.00
Selling expense 2,295,502,342.00 1,450,825,484.00
Administrative expense 4,030,423,338.00 2,517,596,650.00
R&D expense 5,002,518,939.00 3,244,433,098.00
Finance costs 1,758,296,231.00 1,204,359,858.00
Including: Interest expense 2,438,979,548.00 1,498,088,250.00
Interest income 443,748,698.00 421,677,692.00
Add: Other income 1,131,779,224.00 1,525,518,015.00
Return on investment (“-” for loss) 25,936,741.00 15,141,467.00
Including: Share of profit or loss of joint ventures and associates 620,013.00 -27,648,162.00
Income from the derecognition of financial assets at amortized cost
0.00 0.00
(“-” for loss)
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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) 37,887,125.00 19,723,299.00
Credit impairment loss (“-” for loss) -33,868,609.00 805,913.00
Asset impairment loss (“-” for loss) -2,307,446,795.00 -1,643,281,210.00
Asset disposal income (“-” for loss) 152,606,846.00 11,657,251.00
3. Operating profit (“-” for loss) 18,665,687,321.00 597,217,929.00
Add: Non-operating income 48,115,802.00 52,193,491.00
Less: Non-operating expense 21,548,141.00 32,759,545.00
4. Profit before tax (“-” for loss) 18,692,254,982.00 616,651,875.00
Less: Income tax expense 2,260,425,038.00 495,807,024.00
5. Net profit (“-” for net loss) 16,431,829,944.00 120,844,851.00
5.1 By operating continuity
5.1.1 Net profit from continuing operations (“-” for net loss) 16,431,829,944.00 120,844,851.00
5.1.2 Net profit from discontinued operations (“-” for net loss) 0.00 0.00
5.2 By ownership
5.2.1 Net profit attributable to owners of the Company as the parent 12,762,024,968.00 1,135,450,325.00
5.2.1 Net profit attributable to non-controlling interests 3,669,804,976.00 -1,014,605,474.00
6. Other comprehensive income, net of tax -46,126,447.00 226,968,107.00
Attributable to owners of the Company as the parent -28,421,976.00 207,001,047.00
6.1 Items that will not be reclassified to profit or loss -84,109,200.00 171,165,163.00
6.1.1 Changes caused by remeasurements on defined benefit schemes 0.00 0.00
6.1.2 Other comprehensive income that will not be reclassified to profit
-64,314,237.00 198,406,448.00
or loss under the equity method
6.1.3 Changes in the fair value of investments in other equity instruments -19,794,963.00 -27,241,285.00
6.1.4 Changes in the fair value arising from changes in own credit risk 0.00 0.00
6.1.5 Other 0.00 0.00
6.2 Items that will be reclassified to profit or loss 55,687,224.00 35,835,884.00
6.2.1 Other comprehensive income that will be reclassified to profit or
0.00 0.00
loss under the equity method
6.2.2 Changes in the fair value of investments in other debt obligations 0.00 0.00
6.2.3 Other comprehensive income arising from the reclassification of
0.00 0.00
financial assets
6.2.4 Credit impairment allowance for investments in other debt
0.00 0.00
obligations
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6.2.5 Reserve for cash flow hedges 0.00 0.00
6.2.6 Differences arising from the translation of foreign
55,687,224.00 35,835,884.00
currency-denominated financial statements
6.2.7 Other 0.00 0.00
Attributable to non-controlling interests -17,704,471.00 19,967,060.00
7. Total comprehensive income 16,385,703,497.00 347,812,958.00
Attributable to owners of the Company as the parent 12,733,602,992.00 1,342,451,372.00
Attributable to non-controlling interests 3,652,100,505.00 -994,638,414.00
8. Earnings per share
8.1 Basic earnings per share 0.363 0.026
8.2 Diluted earnings per share 0.363 0.026
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 H1 2021 H1 2020
1. Operating revenue 3,056,487,143.00 1,289,883,326.00
Less: Cost of sales 5,740,484.00 7,626,334.00
Taxes and surcharges 17,736,708.00 17,148,416.00
Selling expense 0.00 0.00
Administrative expense 337,658,825.00 306,582,567.00
R&D expense 977,552,146.00 843,196,784.00
Finance costs 408,339,302.00 487,597,032.00
Including: Interest expense 450,708,097.00 500,962,725.00
Interest income 21,893,482.00 16,419,166.00
Add: Other income 484,261,261.00 504,756,999.00
Return on investment (“-” for loss) 1,697,393,282.00 840,807,733.00
Including: Share of profit or loss of joint ventures and associates 13,838,703.00 -11,034,399.00
Income from the derecognition of financial assets at amortized cost
0.00 0.00
(“-” for loss)
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BOE Technology Group Co., Ltd. Interim Report 2021
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) -1,746,785.00 -2,659,079.00
Asset impairment loss (“-” for loss) 0.00 0.00
Asset disposal income (“-” for loss) 0.00 0.00
2. Operating profit (“-” for loss) 3,489,367,435.00 970,637,846.00
Add: Non-operating income 4,925,381.00 4,134,686.00
Less: Non-operating expense 1,187,679.00 192,770.00
3. Profit before tax (“-” for loss) 3,493,105,137.00 974,579,762.00
Less: Income tax expense 261,110,109.00 16,164,266.00
4. Net profit (“-” for net loss) 3,231,995,028.00 958,415,496.00
4.1 Net profit from continuing operations (“-” for net loss) 3,231,995,028.00 958,415,496.00
4.2 Net profit from discontinued operations (“-” for net loss) 0.00 0.00
5. Other comprehensive income, net of tax -77,752,212.00 206,469,234.00
5.1 Items that will not be reclassified to profit or loss -77,752,212.00 206,469,234.00
5.1.1 Changes caused by remeasurements on defined benefit schemes 0.00 0.00
5.1.2 Other comprehensive income that will not be reclassified to profit
-64,314,236.00 198,406,448.00
or loss under the equity method
5.1.3 Changes in the fair value of investments in other equity instruments -13,437,976.00 8,062,786.00
5.1.4 Changes in the fair value arising from changes in own credit risk 0.00 0.00
5.1.5 Other 0.00 0.00
5.2 Items that will be reclassified to profit or loss 0.00 0.00
5.2.1 Other comprehensive income that will be reclassified to profit or
0.00 0.00
loss under the equity method
5.2.2 Changes in the fair value of investments in other debt obligations 0.00 0.00
5.2.3 Other comprehensive income arising from the reclassification of
0.00 0.00
financial assets
5.2.4 Credit impairment allowance for investments in other debt
0.00 0.00
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 3,154,242,816.00 1,164,884,730.00
7. Earnings per share
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BOE Technology Group Co., Ltd. Interim Report 2021
7.1 Basic earnings per share 0.085 0.021
7.2 Diluted earnings per share 0.085 0.021
5. Consolidated Cash Flow Statement
Unit: RMB
Item H1 2021 H1 2020
1. Cash flows from operating activities:
Proceeds from sale of commodities and rendering of services 102,845,512,014.00 62,408,341,810.00
Net increase in customer deposits and interbank deposits 0.00 0.00
Net increase in borrowings from the central bank 0.00 0.00
Net increase in loans from other financial institutions 0.00 0.00
Premiums received on original insurance contracts 0.00 0.00
Net proceeds from reinsurance 0.00 0.00
Net increase in deposits and investments of policy holders 0.00 0.00
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 6,890,984,602.00 5,066,622,972.00
Cash generated from other operating activities 3,658,020,137.00 3,154,292,472.00
Subtotal of cash generated from operating activities 113,394,516,753.00 70,629,257,254.00
Payments for commodities and services 65,583,684,012.00 51,194,153,930.00
Net increase in loans and advances to customers 0.00 0.00
Net increase in deposits in the central bank and in interbank loans
0.00 0.00
granted
Payments for claims on original insurance contracts 0.00 0.00
Net increase in 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 9,006,613,635.00 5,812,713,363.00
Taxes paid 3,697,784,048.00 1,664,294,527.00
Cash used in other operating activities 2,361,246,719.00 2,241,419,900.00
Subtotal of cash used in operating activities 80,649,328,414.00 60,912,581,720.00
Net cash generated from/used in operating activities 32,745,188,339.00 9,716,675,534.00
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BOE Technology Group Co., Ltd. Interim Report 2021
2. Cash flows from investing activities:
Proceeds from disinvestment 14,595,162,184.00 13,329,383,031.00
Return on investment 63,705,219.00 94,522,413.00
Net proceeds from the disposal of fixed assets, intangible assets and
15,950,030.00 3,619,576.00
other long-lived assets
Net proceeds from the disposal of subsidiaries and other business units 0.00 0.00
Cash generated from other investing activities 580,693,730.00 159,875,747.00
Subtotal of cash generated from investing activities 15,255,511,163.00 13,587,400,767.00
Payments for the acquisition of fixed assets, intangible assets and other
22,683,086,935.00 19,239,182,973.00
long-lived assets
Payments for investments 13,559,315,026.00 8,874,322,149.00
Net increase in pledged loans granted 0.00 0.00
Net payments for the acquisition of subsidiaries and other business
0.00 0.00
units
Cash used in other investing activities 327,642,163.00 50,583,894.00
Subtotal of cash used in investing activities 36,570,044,124.00 28,164,089,016.00
Net cash generated from/used in investing activities -21,314,532,961.00 -14,576,688,249.00
3. Cash flows from financing activities:
Capital contributions received 5,412,784,000.00 3,309,530,000.00
Including: Capital contributions by non-controlling interests to
5,412,784,000.00 3,309,530,000.00
subsidiaries
Borrowings raised 19,163,654,139.00 27,894,445,943.00
Cash generated from other financing activities 1,050,916,089.00 1,436,274,535.00
Subtotal of cash generated from financing activities 25,627,354,228.00 32,640,250,478.00
Repayment of borrowings 24,273,242,173.00 23,856,277,822.00
Interest and dividends paid 6,563,653,470.00 2,727,548,410.00
Including: Dividends paid by subsidiaries to non-controlling interests 0.00 8,117,072.00
Cash used in other financing activities 7,424,432,903.00 207,794,479.00
Subtotal of cash used in financing activities 38,261,328,546.00 26,791,620,711.00
Net cash generated from/used in financing activities -12,633,974,318.00 5,848,629,767.00
4. Effect of foreign exchange rates changes on cash and cash equivalents -519,790,328.00 347,801,401.00
5. Net increase in cash and cash equivalents -1,723,109,268.00 1,336,418,453.00
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 66,341,627,103.00 51,606,740,026.00
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6. Cash Flow Statement of the Company as the Parent
Unit: RMB
Item H1 2021 H1 2020
1. Cash flows from operating activities:
Proceeds from sale of commodities and rendering of services 2,330,732,897.00 1,659,668,361.00
Tax rebates 36,064,521.00 0.00
Cash generated from other operating activities 328,682,480.00 227,427,089.00
Subtotal of cash generated from operating activities 2,695,479,898.00 1,887,095,450.00
Payments for commodities and services 2,416,514,190.00 1,757,010,176.00
Cash paid to and for employees 962,945,173.00 641,151,291.00
Taxes paid 404,011,370.00 207,510,679.00
Cash used in other operating activities 91,513,902.00 199,311,877.00
Subtotal of cash used in operating activities 3,874,984,635.00 2,804,984,023.00
Net cash generated from/used in operating activities -1,179,504,737.00 -917,888,573.00
2. Cash flows from investing activities:
Proceeds from disinvestment 461,214,968.00 2,871,711.00
Return on investment 2,085,472,096.00 170,939,834.00
Net proceeds from the disposal of fixed assets, intangible assets and
4,330.00 9,361.00
other long-lived assets
Net proceeds from the disposal of subsidiaries and other business units 0.00 0.00
Cash generated from other investing activities 1,149,998,526.00 97,293,535.00
Subtotal of cash generated from investing activities 3,696,689,920.00 271,114,441.00
Payments for the acquisition of fixed assets, intangible assets and other
593,285,345.00 164,209,417.00
long-lived assets
Payments for investments 12,698,003,442.00 9,073,757,750.00
Net payments for the acquisition of subsidiaries and other business
0.00 0.00
units
Cash used in other investing activities 25,316,404.00 465,233,548.00
Subtotal of cash used in investing activities 13,316,605,191.00 9,703,200,715.00
Net cash generated from/used in investing activities -9,619,915,271.00 -9,432,086,274.00
3. Cash flows from financing activities:
Capital contributions received 0.00 0.00
Borrowings raised 8,365,000,000.00 14,220,000,000.00
Cash generated from other financing activities 12,768,112,185.00 1,579,420,973.00
82
BOE Technology Group Co., Ltd. Interim Report 2021
Subtotal of cash generated from financing activities 21,133,112,185.00 15,799,420,973.00
Repayment of borrowings 7,150,000,000.00 6,840,000,000.00
Interest and dividends paid 4,231,130,463.00 472,262,049.00
Cash used in other financing activities 104,779.00 184,060,000.00
Subtotal of cash used in financing activities 11,381,235,242.00 7,496,322,049.00
Net cash generated from/used in financing activities 9,751,876,943.00 8,303,098,924.00
4. Effect of foreign exchange rates changes on cash and cash equivalents -77,249,702.00 4,870,348.00
5. Net increase in cash and cash equivalents -1,124,792,767.00 -2,042,005,575.00
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 3,235,272,449.00 1,638,764,473.00
83
BOE Technology Group Co., Ltd. Interim Report 2021
7. Consolidated Statements of Changes in Owners’ Equity
H1 2021
Unit: RMB
H1 2021
Equity attributable to owners of the Company as the parent
Other equity instruments
Spec Gen Non-contr Total
Item Other
Pref olling owners’
Less: Treasury ific eral Othe
Share capital erred Othe Capital reserves comprehensive Surplus reserves Retained earnings Subtotal
stock reser reser r interests equity
Perpetual bonds
shar r income
ve ve
es
1.
Balan
ce as
at the
end of 103,276,766,8 70,120,96 173,397,734
34,798,398,763.00 0.00 14,146,997,427.00 0.00 37,435,655,934.00 1,036,298,508.00 -22,198,072.00 0.00 2,444,416,669.00 0.00 15,509,794,622.00 0.00
the 35.00 7,879.00 ,714.00
period
of
prior
year
Add:
Adjust
ment
for 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
chang
e in
accou
84
BOE Technology Group Co., Ltd. Interim Report 2021
nting
policy
Adjust
ment
for
correc 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
tion of
previo
us
error
Adjust
ment
for
busine
ss
combi 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
nation
under
comm
on
contro
l
Other
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
adjust
ments
2. 34,798,398,763.00 0.00 14,146,997,427.00 0.00 37,435,655,934.00 1,036,298,508.00 -22,198,072.00 0.00 2,444,416,669.00 0.00 15,509,794,622.00 0.00 103,276,766,8 70,120,96 173,397,734
85
BOE Technology Group Co., Ltd. Interim Report 2021
Balan 35.00 7,879.00 ,714.00
ce as
at the
begin
ning
of the
Repor
ting
Period
3.
Increa
se/
decrea
se in
8,669,218,401. 3,828,005, 12,497,223,
the 0.00 0.00 51,007,123.00 0.00 -373,763,328.00 0.00 -70,035,865.00 0.00 4,161,389.00 0.00 9,057,849,082.00 0.00
00 086.00 487.00
period
(“-”
for
decrea
se)
3.1
Total
compr
12,733,602,99 3,652,100, 16,385,703,
ehensi 0.00 0.00 0.00 0.00 0.00 0.00 -28,421,976.00 0.00 0.00 0.00 12,762,024,968.00 0.00
2.00 505.00 497.00
ve
incom
e
3.2 -376,241,707. 190,282,1 -185,959,59
0.00 0.00 0.00 0.00 -376,241,707.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capita 00 17.00 0.00
86
BOE Technology Group Co., Ltd. Interim Report 2021
l
increa
sed
and
reduce
d by
owner
s
3.2.1
Ordin
ary
shares -926,301,3 -926,301,32
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
increa 22.00 2.00
sed by
owner
s
3.2.2
Capita
l
increa
sed by
holder 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
s of
other
equity
instru
ments
3.2.3 288,269,885.0 20,510,20 308,780,086
0.00 0.00 0.00 0.00 288,269,885.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Share- 0 1.00 .00
87
BOE Technology Group Co., Ltd. Interim Report 2021
based
payme
nts
includ
ed in
owner
s’
equity
3.2.4 -664,511,592. 1,096,073, 431,561,646
0.00 0.00 0.00 0.00 -664,511,592.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other 00 238.00 .00
3.3
Profit -3,690,621,26 -14,377,53 -3,704,998,7
0.00 0.00 51,007,123.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -3,741,628,386.00 0.00
distrib 3.00 6.00 99.00
ution
3.3.1
Appro
priatio
n to 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
surplu
s
reserv
es
3.3.2
Appro
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
priatio
n to
genera
88
BOE Technology Group Co., Ltd. Interim Report 2021
l
reserv
e
3.3.3
Appro
priatio
n to -3,477,021,26 -14,377,53 -3,491,398,7
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -3,477,021,263.00 0.00
owner 3.00 6.00 99.00
s (or
shareh
olders
)
-213,600,000. -213,600,00
3.3.4 0.00 0.00 51,007,123.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -264,607,123.00 0.00 0.00
00 0.00
Other
3.4
Transf
ers
within 0.00 0.00 0.00 0.00 0.00 0.00 -41,613,889.00 0.00 4,161,389.00 0.00 37,452,500.00 0.00 0.00 0.00 0.00
owner
s’
equity
3.4.1
Increa
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
se in
capital
(or
89
BOE Technology Group Co., Ltd. Interim Report 2021
share
capital
) from
capital
reserv
es
3.4.2
Increa
se in
capital
(or
share 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
capital
) from
surplu
s
reserv
es
3.4.3
Loss
offset
by 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
surplu
s
reserv
es
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
90
BOE Technology Group Co., Ltd. Interim Report 2021
3.4.4
Chang
es in
define
d
benefi
t
schem
es
transf
erred
to
retain
ed
earnin
gs
3.4.5
Other
compr
ehensi
ve
incom
0.00 0.00 0.00 0.00 0.00 0.00 -41,613,889.00 0.00 4,161,389.00 0.00 37,452,500.00 0.00 0.00 0.00 0.00
e
transf
erred
to
retain
ed
earnin
91
BOE Technology Group Co., Ltd. Interim Report 2021
gs
3.4.6 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other
3.5
Specif
ic 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
reserv
e
3.5.1
Increa
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
se in
the
period
3.5.2
Used 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
in the
period
3.6 2,478,379.0
0.00 0.00 0.00 0.00 2,478,379.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2,478,379.00 0.00
Other 0
4.
Balan
ce as 111,945,985,2 73,948,97 185,894,958
34,798,398,763.00 0.00 14,198,004,550.00 0.00 37,061,892,606.00 1,036,298,508.00 -92,233,937.00 0.00 2,448,578,058.00 0.00 24,567,643,704.00 0.00
at the 36.00 2,965.00 ,201.00
end of
the
92
BOE Technology Group Co., Ltd. Interim Report 2021
Repor
ting
Period
93
BOE Technology Group Co., Ltd. Interim Report 2021
H1 2020
Unit: RMB
H1 2020
Equity attributable to owners of the Company as the parent
Other equity instruments Less: Specif Gener
Item Non-controllin Total owners’
Other
Preferr Capital Treasu ic Surplus al Retained Oth
Share capital Perpetual Oth comprehensi Subtotal g interests equity
ed reserves ry reserv reserves reserv earnings er
bonds er ve income
shares stock e e
1. Balance
as at the end 34,798,398,763 8,013,156,853. 38,353,242,364 -4,566,639.0 1,516,139,709 12,381,758,005 95,058,129,055. 45,999,567,919 141,057,696,974
0.00 0.00 0.00 0.00 0.00 0.00
of the period .00 00 .00 0 .00 .00 00 .00 .00
of prior year
Add:
Adjustment
for change 533,906,114.0 -533,906,114.0
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
in 0 0
accounting
policy
Adjustment
for
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
correction
of previous
error
Adjustment
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
for business
combination
94
BOE Technology Group Co., Ltd. Interim Report 2021
under
common
control
Other
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
adjustments
2. Balance
as at the
beginning of 34,798,398,763 8,013,156,853. 38,353,242,364 -4,566,639.0 2,050,045,823 11,847,851,891 95,058,129,055. 45,999,567,919 141,057,696,974
0.00 0.00 0.00 0.00 0.00 0.00
the .00 00 .00 0 .00 .00 00 .00 .00
Reporting
Period
3. Increase/
decrease in
6,184,847,697. 214,932,128. 6,614,403,412.0 2,512,782,634. 9,127,186,046.0
the period 0.00 0.00 0.00 4,921.00 0.00 0.00 0.00 0.00 214,618,666.00 0.00
00 00 0 00 0
(“-” for
decrease)
3.1 Total
207,001,047. 1,135,450,325. 1,342,451,372.0 -994,638,414.0
comprehensi 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 347,812,958.00
00 00 0 0
ve income
3.2
Capital
5,967,915,094. 5,968,250,773.0 3,588,270,616. 9,556,521,389.0
increased 0.00 0.00 0.00 335,679.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
00 0 00 0
and reduced
by owners
3.2.1
Ordinary 3,595,303,298. 3,595,303,298.0
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
shares 00 0
increased by
95
BOE Technology Group Co., Ltd. Interim Report 2021
owners
3.2.2
Capital
increased by 5,967,915,094. 5,967,915,094.0 5,967,915,094.0
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
holders of 00 0 0
other equity
instruments
3.2.3
Share-based
payments
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
included in
owners’
equity
3.2.4 Other 0.00 0.00 0.00 0.00 335,679.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 335,679.00 -7,032,682.00 -6,697,003.00
3.3 Profit -912,900,578.0
0.00 0.00 216,932,603.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -695,967,975.00 -80,849,568.00 -776,817,543.00
distribution 0
3.3.1
Appropriati
on to 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
surplus
reserves
3.3.2
Appropriati
on to 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
general
reserve
3.3.3 -695,967,975.0
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -695,967,975.00 -80,849,568.00 -776,817,543.00
Appropriati 0
96
BOE Technology Group Co., Ltd. Interim Report 2021
on to
owners (or
shareholders
)
3.3.4 -216,932,603.0
0.00 0.00 216,932,603.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other 0
3.4
Transfers
within 0.00 0.00 0.00 0.00 0.00 0.00 7,931,081.00 0.00 0.00 0.00 -7,931,081.00 0.00 0.00 0.00 0.00
owners’
equity
3.4.1
Increase in
capital (or
share 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
capital)
from capital
reserves
3.4.2
Increase in
capital (or
share 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
capital)
from surplus
reserves
3.4.3
Loss offset
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
by surplus
reserves
97
BOE Technology Group Co., Ltd. Interim Report 2021
3.4.4
Changes in
defined
benefit
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
schemes
transferred
to retained
earnings
3.4.5
Other
comprehensi
ve income 0.00 0.00 0.00 0.00 0.00 0.00 7,931,081.00 0.00 0.00 0.00 -7,931,081.00 0.00 0.00 0.00 0.00
transferred
to retained
earnings
3.4.6
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other
3.5 Specific
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
reserve
3.5.1
Increase in 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
the period
3.5.2
Used in the 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
period
3.6 Other 0.00 0.00 0.00 0.00 -330,758.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -330,758.00 0.00 -330,758.00
4. Balance 34,798,398,763 14,198,004,550 38,353,247,285 210,365,489. 2,050,045,823 12,062,470,557 101,672,532,467 48,512,350,553 150,184,883,020
0.00 0.00 0.00 0.00 0.00 0.00
as at the end .00 .00 .00 00 .00 .00 .00 .00 .00
98
BOE Technology Group Co., Ltd. Interim Report 2021
of the
Reporting
Period
8. Statements of Changes in Owners’ Equity of the Company as the Parent
H1 2021
Unit: RMB
H1 2021
Other equity instruments Other
Item Less: Treasury Specific Total owners’
Share capital Preferred Capital reserves comprehensive Surplus reserves Retained earnings Other
Perpetual bonds Other stock reserve equity
shares income
1. Balance as at the end
of the period of prior 34,798,398,763.00 0.00 14,146,997,427.00 0.00 36,696,079,366.00 1,036,298,508.00 90,713,133.00 0.00 2,444,416,669.00 11,954,088,031.00 0.00 99,094,394,881.00
year
Add: Adjustment for
change in accounting 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
policy
Adjustment for
correction of previous 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
error
Other adjustments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
2. Balance as at the
beginning of the 34,798,398,763.00 0.00 14,146,997,427.00 0.00 36,696,079,366.00 1,036,298,508.00 90,713,133.00 0.00 2,444,416,669.00 11,954,088,031.00 0.00 99,094,394,881.00
Reporting Period
3. Increase/ decrease in
0.00 0.00 51,007,123.00 0.00 313,557,266.00 0.00 -119,366,101.00 0.00 4,161,389.00 -472,180,858.00 0.00 -222,821,181.00
the period (“-” for
99
BOE Technology Group Co., Ltd. Interim Report 2021
decrease)
3.1 Total
0.00 0.00 0.00 0.00 0.00 0.00 -77,752,212.00 0.00 0.00 3,231,995,028.00 0.00 3,154,242,816.00
comprehensive income
3.2 Capital increased
0.00 0.00 0.00 0.00 308,780,087.00 0.00 0.00 0.00 0.00 0.00 0.00 308,780,087.00
and reduced by owners
3.2.1 Ordinary shares
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
increased by owners
3.2.2 Capital increased
by holders of other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
equity instruments
3.2.3 Share-based
payments included in 0.00 0.00 0.00 0.00 308,780,087.00 0.00 0.00 0.00 0.00 0.00 0.00 308,780,087.00
owners’ equity
3.2.4 Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
3.3 Profit distribution 0.00 0.00 51,007,123.00 0.00 0.00 0.00 0.00 0.00 0.00 -3,741,628,386.00 0.00 -3,690,621,263.00
3.3.1 Appropriation
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
to surplus reserves
3.3.2 Appropriation
to owners (or 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -3,477,021,263.00 0.00 -3,477,021,263.00
shareholders)
3.3.3 Other 0.00 0.00 51,007,123.00 0.00 0.00 0.00 0.00 0.00 0.00 -264,607,123.00 0.00 -213,600,000.00
3.4 Transfers within
0.00 0.00 0.00 0.00 0.00 0.00 -41,613,889.00 0.00 4,161,389.00 37,452,500.00 0.00 0.00
owners’ equity
3.4.1 Increase in
capital (or share capital) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
from capital reserves
100
BOE Technology Group Co., Ltd. Interim Report 2021
3.4.2 Increase in
capital (or share capital) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
from surplus reserves
3.4.3 Loss offset by
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
surplus reserves
3.4.4 Changes in
defined benefit schemes
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
transferred to retained
earnings
3.4.5 Other
comprehensive income
0.00 0.00 0.00 0.00 0.00 0.00 -41,613,889.00 0.00 4,161,389.00 37,452,500.00 0.00 0.00
transferred to retained
earnings
3.4.6 Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
3.5 Specific reserve 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
3.5.1 Increase in the
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
period
3.5.2 Used in the
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
period
3.6 Other 0.00 0.00 0.00 0.00 4,777,179.00 0.00 0.00 0.00 0.00 0.00 0.00 4,777,179.00
4. Balance as at the end
34,798,398,763.00 0.00 14,198,004,550.00 0.00 37,009,636,632.00 1,036,298,508.00 -28,652,968.00 0.00 2,448,578,058.00 11,481,907,173.00 0.00 98,871,573,700.00
of the Reporting Period
H1 2020
Unit: RMB
H1 2020
Item
Share capital Other equity instruments Capital reserves Less: Other Specific Surplus reserves Retained Other Total owners’ equity
101
BOE Technology Group Co., Ltd. Interim Report 2021
Preferred Treasury comprehensive reserve earnings
Perpetual bonds Other
shares stock income
1. Balance as at the end of
34,798,398,763.00 0.00 8,013,156,853.00 0.00 37,608,039,685.00 0.00 193,638,576.00 0.00 1,516,139,709.00 4,781,488,839.00 0.00 86,910,862,425.00
the period of prior year
Add: Adjustment for
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 533,906,114.00 4,805,155,025.00 0.00 5,339,061,139.00
change in accounting policy
Adjustment for
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
correction of previous error
Other adjustments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
2. Balance as at the
beginning of the Reporting 34,798,398,763.00 0.00 8,013,156,853.00 0.00 37,608,039,685.00 0.00 193,638,576.00 0.00 2,050,045,823.00 9,586,643,864.00 0.00 92,249,923,564.00
Period
3. Increase/ decrease in the
0.00 0.00 6,184,847,697.00 0.00 -330,758.00 0.00 206,469,234.00 0.00 0.00 45,514,918.00 0.00 6,436,501,091.00
period (“-” for decrease)
3.1 Total comprehensive
0.00 0.00 0.00 0.00 0.00 0.00 206,469,234.00 0.00 0.00 958,415,496.00 0.00 1,164,884,730.00
income
3.2 Capital increased and
0.00 0.00 5,967,915,094.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5,967,915,094.00
reduced by owners
3.2.1 Ordinary shares
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
increased by owners
3.2.2 Capital increased by
holders of other equity 0.00 0.00 5,967,915,094.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5,967,915,094.00
instruments
3.2.3 Share-based payments
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
included in owners’ equity
3.2.4 Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
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3.3 Profit distribution 0.00 0.00 216,932,603.00 0.00 0.00 0.00 0.00 0.00 0.00 -912,900,578.00 0.00 -695,967,975.00
3.3.1 Appropriation to
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
surplus reserves
3.3.2 Appropriation to
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -695,967,975.00 0.00 -695,967,975.00
owners (or shareholders)
3.3.3 Other 0.00 0.00 216,932,603.00 0.00 0.00 0.00 0.00 0.00 0.00 -216,932,603.00 0.00 0.00
3.4 Transfers within
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
owners’ equity
3.4.1 Increase in
capital (or share capital) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
from capital reserves
3.4.2 Increase in
capital (or share capital) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
from surplus reserves
3.4.3 Loss offset by
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
surplus reserves
3.4.4 Changes in
defined benefit schemes
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
transferred to retained
earnings
3.4.5 Other
comprehensive income
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
transferred to retained
earnings
3.4.6 Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
3.5 Specific reserve 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
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3.5.1 Increase in the
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
period
3.5.2 Used in the
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
period
3.6 Other 0.00 0.00 0.00 0.00 -330,758.00 0.00 0.00 0.00 0.00 0.00 0.00 -330,758.00
4. Balance as at the end of
34,798,398,763.00 0.00 14,198,004,550.00 0.00 37,607,708,927.00 0.00 400,107,810.00 0.00 2,050,045,823.00 9,632,158,782.00 0.00 98,686,424,655.00
the Reporting Period
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III Company Profile
Founded in Beijing on 9 April 1993 and headquartered in the city, BOE Technology Group Co., Ltd. (hereinafter referred to as the
“Company”) is a company limited by shares. Its parent and ultimate controller is Beijing Electronics Holding Co., Ltd. (“Electronics
Holding”). The Company and its affiliated subsidiaries (hereinafter jointly referred to as the “Group”) are divided into five major
business divisions, namely, display business, smart systems innovation business, smart medicine & engineering integration business,
sensor and application solution business and MLED business. For information about the Company’s subsidiaries, see Part IV herein.
For information about the Company’s subsidiaries, see Note IX.
The consolidation scope for consolidated financial statements was determined based on control including the Company and
subsidiaries controlled by the Company.
Information about subsidiaries was presented in Note IX.
The increase and decrease of subsidiaries was listed in Note IX.
IV Basis for the Preparation of Financial Statements
1. Preparation Basis
The financial statements have been prepared on the basis of going concern.
2. Continuing Operations
The Company had the continuing operations ability within 12 months since the end of the Reporting Period.
V Significant Accounting Policies and Estimates
Reminder of the specific accounting policies and estimates:
Naught
1. Statement of Compliance with the Accounting Standards for Business Enterprises
The financial statements have been prepared in accordance with the requirements of Accounting Standards for Business Enterprises
issued by the Ministry of Finance (hereinafter referred to as MOF). These financial statements present truly and completely the
consolidated financial position and financial position as of 30 June 2021, the consolidated results of operations and results of
operations and the consolidated cash flows and cash flows in the first half year of 2021 of the Company.
2. Accounting period
The accounting year of the Group is from January 1st to December 31st.
3. Operating Cycle
The Company regarded the period from purchasing the assets for processing to realizing the cash or cash equivalents as the normal
operating cycle. The operating cycle of the main business of the Company usually is less than 12 months.
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4. Recording Currency
The Company’s functional currency is Renminbi. These financial statements are presented in Renminbi. The basis of choosing the
functional currency for the Company and its subsidiaries is that it’s the pricing and settlement currency for the main business. Some
subsidiaries of the Company adopt the currency other than RMB as the recording currency. The Company translates the foreign
currency financial statement of subsidiaries when compiling the financial statement.
5. Accounting Treatments for a Business Combination Involving Entities Under and those not Under
Common Control
(1) Business combination involving entities under common control
A business combination involving enterprises under common control is a business combination in which all of the combining
enterprises are ultimately controlled by the same party or parties both before and after the business combination, and that control is
not transitory. The assets and liabilities obtained are measured at the carrying amounts as recorded by the enterprise being combined
at the combination date. The difference between the carrying amount of the net assets obtained and the carrying amount of
consideration paid for the combination (or the total face value of shares issued) is adjusted to share premium in the capital reserve. If
the balance of share premium is insufficient, any excess is adjusted to retained earnings. Other direct expenses occur when the Group
conducting business combinations is recognized in current profit and loss. The combination date is the date on which one combining
enterprise effectively obtains control of the other combining enterprises.
(2) Business combinations involving entities not under common control
A business combination involving entities not under common control is a business combination in which all of the combining entities
are not ultimately controlled by the same party or parties both before and after the business combination. When the Group acts as the
combination party, the cost of a business combination paid by the acquirer is the aggregate of the fair value at the acquisition date of
assets given (including share equity of the acquiree held before the combination date), liabilities incurred or assumed, and equity
securities issued by the acquirer. Any excess of the cost of a business combination over the acquirer’s interest in the fair value of the
acquiree’s identifiable net assets is recognized as goodwill (see Note III-17), while any excess of the acquirer’s interest in the fair
value of the acquiree’s identifiable net assets over the cost of a business combination is recognized in profit or loss. The cost of
equity securities or liability securities as on combination consideration offering is recognized in initial recording capital on equity
securities or liability securities. Other direct expenses occur when the Group conducting business combinations is recognized in
current profit and loss. The difference between the fair value and the carrying amount of the assets given is recognized in profit or
loss. The Group, at the acquisition date, recognized the acquiree’s identifiable asset, liabilities and contingent liabilities at their fair
value at that date. The acquisition date is the date on which the acquirer effectively obtains control of the acquiree.
In a business combination not under same control realized by two or more transactions of exchange, for the equities of the purchases
held before the purchase date, the Group will execute the remeasurement according to the fair value of the equity on the purchase
date with the difference between the fair value and its book value be recorded in the current investment income or other
comprehensive income. The other comprehensive income which could be reclassified in the gains and losses afterwards under the
measurement of the equity method and the changes of the equities of the other owners that involved with the afterwards equity of the
purchases held before the purchase date should be transferred in the current investment income (see Note III-11-(2)-(b)). When the
equity in the acquiree held before the acquisition date is the investment in equity instrument at fair value through other
comprehensive income, the other comprehensive income recognized before the acquisition date shall be transferred into retained
earnings on the acquisition date.
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6. Preparation Methods for Consolidated Financial Statements
(1) General principle
The scope of consolidated financial statements is determined on the base of control, which comprise the Company and its
subsidiaries. The term “control” is the power of the Group upon an investee, with which it can take part in relevant activities of the
investee to obtain variable returns and is able to influence the amount of returns. When judging whether the Group owns the right on
the investees or not, the Group only considers the substantive rights related to the investees (including the substantive rights enjoyed
by the Group itself and by the other parties). The financial status, operating results and cash flow of subsidiaries are included in the
consolidated financial statements from the date that control commences until the date that control ceases.
Equity, profit or loss attributable to minority shareholders is presented separately under the item of shareholders’ equity in
consolidated income statement and the net profits in the consolidated income statement.
If current loss shoulder by minority shareholders of a subsidy over the proportion enjoyed by minority shareholders in a subsidy at
owners’ equity at period-begin, its balance still offset minority shareholders’ equity.
When the accounting period or accounting policies of a subsidiary are different from those of the Company, the Company makes
necessary adjustments to the financial statements of the subsidiary based on the Company’s own accounting period or accounting
policies. Intra-group balances and transactions, and any unrealized profit or loss arising from intra-group transactions, are eliminated
in preparing the consolidated financial statements. Unrealized losses resulting from intra-group transactions are eliminated in the
same way as unrealized gains but only to the extent that there is no evidence of impairment.
(2) Acquiring the subsidiaries from merger
Where a subsidiary was acquired during the Reporting Period, through a business combination involving entities under common
control, the financial statements of the subsidiary are included in the consolidated financial statements based on book value in the
consolidated balance sheet of the subsidiary’s assets, liabilities and results of operations as if the combination had occurred at the
date that common control was established. Therefore the opening balances and the comparative figures of the consolidated financial
statements are restated.
Where a subsidiary was acquired during the Reporting Period, through a business combination involving entities not under common
control, when prepared the consolidated financial statements, the Company shall included the acquired subsidiaries into the
consolidated scope from the acquisition date basing on the fair value of the identifiable assets, liabilities at the acquisition date.
(3) Disposing the subsidiaries
Where the control of former subsidiary was lost, any disposal profit or loss occurred shall be recorded into the investment income
during the period of losing control right. As for remaining equity investment, the Group will re-account it according to the fair value
at the date the control was lost. Any profit or loss occurred shall be recorded into the investment income during the period of losing
control right.
Where the Group losses control on its original subsidiaries due to step by step disposal of equity investments through multiple
transactions, should judge whether is the package deal according to the following principles:
- These deals are at the same time or under the condition of considering the influence of each other to concluded;
- These transactions only when be regarded as a whole could achieve a complete business result;
- The occurrence of a deal depends on at least one other transactions；
- A deal alone is not economical, it is economical with other trading together.
If each deal not belongs to a package deal, as for each deal before losing the control right on the subsidiaries, should be disposed
according to the accounting policies of partly disposing the equity investment of the subsidiaries under the situation not losing the
control right.
If each deal belongs to a package deal, considered as a transaction and conduct accounting treatment, however, before losing control,
the differences between every disposal cost and the shares of the book value of the corresponding net assets continuously calculated
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since the purchase date of the subsidiary of disposal investment are confirmed as other comprehensive income in consolidated
financial statements, which together transferred into the current profits and losses in the loss of control , when the Group losing
control on its subsidiary.
(4) Changes of non-controlling interests
Where the Company acquires a minority interest from a subsidiary’s minority shareholders or disposes of a portion of an interest in a
subsidiary without a change in control, the difference between the amount by which the minority interests are adjusted and the
amount of the consideration paid or received is adjusted to the capital reserve (share premium) in the consolidated balance sheet. If
the credit balance of capital reserve (share premium) is insufficient, any excess is adjusted to retained earnings.
7. Classification of Joint Arrangements and Accounting Treatment of Joint Operations
A joint arrangement refers to an arrangement jointly controlled by two participants or above and all the participants are restricted by
the arrangement; and two or more participants execute the jointly control on the arrangement. Any of the participant should not
individually control the arrangement, while any of the participant that owns the jointly control could stop other participants or the
participants group from individually control the arrangement.
Joint arrangements divided into joint operations and joint ventures. A joint operation refers to a joint arrangement where the
participant party enjoys assets and has to bear liabilities related to the arrangement. A joint venture refers to a joint arrangement
where the participant party is only entitled to the net assets of the arrangement.
The participant party should confirm the following items related to the interests portion among the jointly operation and execute the
accounting treatment according to the regulations of the relevant ASBE: recognizes the assets and liabilities that it holds and bears in
the joint operation, and recognizes the jointly-held assets and jointly-borne liabilities according to the Group’s stake in the joint
operation; recognizes the income from sale of the Group’s share in the output of the joint operation; recognizes the income from sale
of the joint operation’s outputs according to the Group’s stake in it; and recognizes the expense solely incurred to the Group and the
expense incurred to the joint operation according to the Group’s stake in it.
8. Recognition Standard for Cash and Cash Equivalents
In the Group’s understanding, cash and cash equivalents include cash on hand, any deposit that can be used for cover, and short-term
and high circulating investments, which are easily convertible into known amount of cash and whose risks in change of value are
minimal.
9. Foreign Currency Businesses and Translation of Foreign Currency Financial Statements
When the Group receives capital in foreign currencies from investors, the capital is translated to Renminbi at the spot exchange rate
at the date of the receipt. Other foreign currency transactions are, on initial recognition, translated to Renminbi at the spot exchange
rates at the dates of the transactions.
Monetary items denominated in foreign currencies are translated to Renminbi at the spot exchange rate at the balance sheet date. The
resulting exchange differences are recognized in profit or loss, except those arising from the principals and interests on foreign
currency borrowings specifically for the purpose of acquisition, construction of qualifying assets. Non-monetary items denominated
in foreign currencies that are measured at historical cost are translated to Renminbi using the foreign exchange rate at the transaction
date. Non-monetary items denominated in foreign currencies that are measured at fair value are translated using the foreign exchange
rate at the date the fair value is determined; the exchange differences, if it’s the difference arising from the non-monetary item of
non-transactional equity investments designated to be measured at fair value and changes thereof recorded into other comprehensive
income, it shall be considered as other comprehensive income; other differences shall be recognized in current profit or loss.
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The assets and liabilities of foreign operation are translated to Renminbi at the spot exchange rate at the balance sheet date. The
equity items, excluding “Retained earning” and “Difference arising from translation of foreign currency financial statements in other
comprehensive income”, are translated to Renminbi at the spot exchange rates at the transaction dates. The income and expenses of
foreign operation are translated to Renminbi at rates that approximate the spot exchange rates at the transaction dates. The resulting
exchange differences are listed in other comprehensive income. Upon disposal of a foreign operation, the cumulative amount of the
exchange differences recognized in equity which relates to that foreign operation is transferred to profit or loss in the period in which
the disposal occurs.
10. Financial instruments
(1) Recognition and initial measurement of financial assets and financial liabilities
A financial asset or financial liability is recognised in the balance sheet when the Group becomes a party to the contractual provisions
of a financial instrument.
Financial assets (unless it is a trade receivable without a significant financing component) and financial liabilities is measured
initially at fair value. For financial assets and financial liabilities at fair value through profit or loss, any related directly attributable
transaction costs are charged to profit or loss; for other categories of financial assets and financial liabilities, any related directly
attributable transaction costs are included in their initial costs. A trade receivable without a significant financing component is
initially measured at the transaction price according to Accounting Standards for Business Enterprises No.14-Revenue.
(2) Classification and subsequent measurement of financial assets
(a) Classification of financial assets
The classification of financial assets is generally based on the business model in which a financial asset is managed and its
contractual cash flow characteristics. On initial recognition, a financial asset is classified as measured at amortised cost, at fair value
through other comprehensive income (“FVOCI”), or at fair value through profit or loss (“FVTPL”).
Financial assets are not reclassified subsequent to their initial recognition unless the Group changes its business model for managing
financial assets in which case all affected financial assets are reclassified on the first day of the first reporting period following the
change in the business model.
A financial asset is measured at amortised cost if it meets both of the following conditions and is not designated as at FVTPL:
- it is held within a business model whose objective is to hold assets to collect contractual cash flows; and
- its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal
amount outstanding.
11. Notes Receivable
The Company will always measure the provision for notes receivable whether including major financing components or not based on
the amount similar to that of expected credit losses for the whole existence period and the amount increased or reversed of
impairment for losses generated shall be recorded into the current profit or loss as gains or losses of impairment.
Note: The method of determining the expected credit loss of notes receivable and the accounting treatment are described, including
the method of assessing whether the credit risk has increased considerably since the initial recognition, and the combination method
of assessing the expected credit based on the combination.
12. Accounts Receivable
The recognition standard and withdrawal method of bad debt provision for accounts receivable of the Company since 2019 are as
follows:
For accounts receivable, the Group measures the loss provision by the amount that is equivalent to the expected credit loss of the
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entire duration. The Group uses preparation matrix to calculate the expected credit loss of the financial assets aforementioned based
on historical experience of credit losses. Relevant historical experience is based on particular factors of the borrowers on the balance
sheet date, and adjustment will be made to the current status and the estimation of the future economic status.
The expected credit loss is calculated with the overdue days and the loss given default comparison table as the basis. According to
the historical experience of the Group, different loss models apply to different segments of customer groups.
Note: the method of determining the expected credit loss of accounts receivable and the accounting treatment are described,
including the method of assessing whether the credit risk has increased considerably since the initial recognition, and the
combination method of assessing the expected credit based on the combination.
The Company shall comply with the disclosure requirements of the Guidelines No. 10 of Shenzhen Stock Exchange on Industry
Information Disclosure -- Listed Companies Engaging in Business Related to Explosives for Civil Uses.
Note: according to different business models, the recognition of receivables, credit policy and bad debt provision policy are disclosed
in detail.
The Company shall comply with the disclosure requirements of the Guidelines No. 6 of Shenzhen Stock Exchange on Industry
Information Disclosure -- Listed Companies Engaging in Home Furnishing and Decoration Business.
Note: according to different business models, the recognition of receivables, payment collection conditions and bad debt provision
policy are disclosed in detail.
The Company shall comply with the disclosure requirements of the Guidelines No. 7 of Shenzhen Stock Exchange on Industry
Information Disclosure -- Listed Companies Engaging in Civil Engineering Construction Business.
Note: according to different business models, the recognition of receivables, payment collection conditions and bad debt provision
policy are disclosed in detail.
13. Accounts Receivable Financing
Naught
14. Other Receivables
The recognition method and accounting treatment of expected credit losses of other receivables
The recognition method and accounting treatment of expected credit losses of other receivables
See Note V. 10 Financial Instruments for details
15. Inventory
(1) Classification and cost of inventories
Inventories include raw materials, work in progress, finished goods and reusable materials. Reusable materials include low-value
consumables, packaging materials and other materials, which can be used repeatedly but do not meet the definition of fixed assets.
Inventories are initially measured by the cost. Cost of inventories comprises all costs of purchase, costs of conversion and other costs.
Inventories are initially measured at their actual cost. In addition to the purchasing cost of raw materials, work in progress and
finished goods include direct labor costs and an appropriate allocation of production overheads.
(2) Pricing method for outgoing inventories
Cost of inventories is calculated using the weighted average method.
Revolving materials such as the low priced and easily worn articles and the packing materials should be amortized by adopting
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one-time amortization method and be recorded in the cost of the relevant assets or the current gains and losses.
(3) Recognition basis of net realizable value and withdrawal method of depreciation reserves for inventories
On the balance sheet day, inventories are carried at the lower of cost and net realizable value.
Net realizable value is the estimated selling price in the normal course of business less the estimated costs to completion and the
estimated expenses and related taxes necessary to make the sale. The net realizable value of materials held for use in the production
of inventories is measured based on the net realizable value of the finished goods in which they will be incorporated. The net
realizable value of the quantity of inventory held to satisfy sales or service contracts is based on the contract price. If the quantities of
inventories specified in sales contracts are less than the quantities held by the Group, the net realizable value of the excess portion of
inventories shall be based on general selling prices.
Any excess of the cost over the net realizable value of each class of inventories is recognized as a provision for diminution in the
value of inventories, and then recorded into current profit or loss.
(4) Inventory system for inventories
The Group maintains a perpetual inventory system.
16. Contract Assets
Contract assets refer to the right that the Group has to charge consideration from customers due to the transfer of commodities to
them, and the right depends on other factors than time lapse. If the Group sells two highly distinguishable commodities to a customer,
and has the right to receive payment due to the delivery of one of the commodities, but with the collection of the payment depending
on the delivery of the other, the Group will treat this right of payment as a contract asset.
See Note V. 10 Financial Instruments for details
17. Contract Costs
Contract costs are either the incremental costs of obtaining a contract with a customer or the costs to fulfill a contract with a customer.
Incremental costs of obtaining a contract are those costs that the Group incurs to obtain a contract with a customer that it would not
have incurred if the contract had not been obtained. The Group recognizes as an asset the incremental costs of obtaining a contract
with a customer if it expects to recover those costs. Other costs of obtaining a contract are expensed when incurred. Incremental costs
incurred as the Group obtains a contract refer to those costs which will not incur without entering into a contract.
If the costs to fulfill a contract with a customer are not within the scope of inventories or other accounting standards, the Group
recognizes an asset from the costs incurred to fulfill a contract only if those costs meet all of the following criteria:
the costs relate directly to an existing contract or to a specifically identifiable anticipated contract, including direct labor, direct
materials, allocations of overheads (or similar costs), costs that are explicitly chargeable to the customer and other costs that are
incurred only because the Group entered into the contract;
the costs enhance resources of the Group that will be used in satisfying performance obligations in the future;
the costs are expected to be recovered.
Assets recognized for the incremental costs of obtaining a contract and assets recognized for the costs to fulfill a contract (the "assets
related to contract costs") are amortized on a systematic basis that is consistent with the transfer to the customer of the goods or
services to which the assets relate and recognized in profit or loss for the current period.
The Group recognizes an impairment loss in profit or loss to the extent that the carrying amount of an asset related to contract costs
exceeds:
remaining amount of consideration that the Group expects to receive in exchange for the goods or services to which the asset relates;
the costs that relate directly to providing those goods or services that have not yet been recognized as expenses.
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18. Assets Held for Sale
The Group should divide the non-current assets (or the disposal group, that is an asset group concurrently be disposed through selling
or other methods as an entirety in a transaction and the liabilities directly related to the assets from the transfer among the transaction,
the same below )which simultaneously meet with the following conditions as the assets held for sale.
– The non-current assets or disposal group could be immediately sold under the current condition in accordance with the usual terms
of selling this kind of assets in similar transactions;
– The sale is extremely possible that is to say, the Company has made a resolution regarding a sales planning and signed a legally
binding purchase agreement with other party, and the sale is expected to be finished within one year.
When the non-current assets be divided as assets held for sale (excluding financial assets), the Group measures the non-current assets
held for sale, deferred income tax assets and the investment properties be follow-up measured by the fair value mode according to the
lower one between the book value and the fair value after deducting the net amount of the disposal expenses, while the deference that
the book value higher than the fair value which deducted the disposal expenses should be recognized as the impairment losses of the
assets.
The fixed assets and intangible assets be divided as assets held for sale and the investment properties be follow-up measured by the
cost mode would not be withdrawn, depreciated or amortized, while the long-term equity investment be divided as assets held for
sale that measured by equity method should cease the equity method measurement.
19. Investments in Debt Obligations
See Note V. 10 Financial Instruments for details
20. Other Investments in Debt Obligations
See Note V. 10 Financial Instruments for details
21. Long-term Receivables
Naught
22. Long-term Equity Investments
(1) Recognition of the investment cost of the long-term equity investment
(a) Long-term equity investments acquired through a business combination– The initial investment cost of a long-term equity
investment obtained through a business combination involving entities under common control is the Company’s share of the
subsidiary’s equity at the combination date. The difference between the initial investment cost and the carrying amounts of the
consideration given is adjusted to share premium in capital reserve. If the balance of the share premium is insufficient, any excess is
adjusted to retained earnings. For the long-term equity investment of the subsidiaries formed from the enterprise merger under the
same control that realized step by step of the multiple transaction not belong to package deal, the Company would adjust the capital
stock premium among the capital surplus according to the difference between the initial investment cost of the long-term equity
investment recognized according to the above principles and the sum of the book value of the long-term equity investment before
reaching the merger and the book value of the newly paid consideration which be further received on the merger date, and if the
balance of the share premium is insufficient, any excess is adjusted to retained earnings.
– For other long-term equity investment obtained through entities not under common control, the fair values, on the acquisition date,
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of the assets given, the liabilities incurred or assumed and the equity securities issued by the acquirer in exchange for the control on
the acquiree shall be recognized as initial investment cost of the long-term equity investment. For long-term equity investment
obtained through a business combination involving entities not under common control by two or more transactions and by several
steps, the initial investment cost is recognized as the aggregation of the carrying value of acquirees’ equity investment before the
acquisition date held by the Company and newly investment cost at the acquisition date.
(b) Long-term equity investments acquired otherwise than through a business combination
For the Long-term equity investments acquired otherwise than through a business combination, if the long-term investment is
acquired by paying cash, the Group shall, upon initial recognition, take the purchase price actually paid as the initial investment cost ;
For the long-term equity investment obtained by issuing equity securities, the Group takes the fair value of equity securities issued as
the initial investment cost.
(2) Subsequent measurement and recognition of profits or losses of the long-term equity investment
(a) Investments in subsidiaries
In the Company’s financial statements, investments in subsidiaries are accounted for using the cost method, unless the investment is
classified as held for sale. Cash dividends or profit distributions declared by subsidiaries and attributed to the Company shall be
recognized as investment income, without dividing whether it’s the net profit realized by the investee before the investment or after
the investment, except those that have been declared but unpaid at the time of acquisition and therefore included in the price paid or
consideration.
The investment into the subsidiaries is stated at cost less impairment losses in the balance sheet.
As for the impairment testing method and impairment provisions for investments in subsidiaries, please refer to V. Significant
Accounting Policies and Estimates-31. Long-term Asset Impairment.
In the Group’s consolidated financial statements, long-term equity investments in subsidiaries are treated in accordance with V.
Significant Accounting Policies and Estimates-6. Preparation Method for Consolidated Financial Statements.
(b) Investment in jointly controlled enterprises and associates
The joint enterprise refers to an arrangement that the Group and other joint operation parties execute jointly control and only enjoy
the rights of their own net assets.
An associate is an enterprise over which the Group has significant influence.
Upon the subsequent measurement, an investment in a jointly controlled enterprise or an associate is accounted for using the equity
method, unless the investment is classified as held for sale.
The Group makes the following accounting treatments when using the equity method:
– Where the initial investment cost of a long-term equity investment exceeds the Group’s interest in the fair value of the investee’s
identifiable net assets at the date of acquisition, the investment is initially recognized at the initial investment cost. Where the initial
investment cost is less than the Group’s interest in the fair value of the investee’s identifiable net assets at the date of acquisition, the
investment is initially recognized at the investor’s share of the fair value of the investee’s identifiable net assets, and the difference is
charged to profit or loss.
– After the acquisition of the investment, the Group recognizes its share of the investee’s net profits or losses after deducting the
amortization of the debit balance of equity investment difference, which was recognized by the Group before the first-time adoption
of CAS, as investment income or losses, and adjusts the carrying amount of the investment accordingly. The debit balance of the
equity investment difference is amortized using the straight-line method over a period which is determined in accordance with
previous accounting standards. Once the investee declares any cash dividends or profits distributions, the carrying amount of the
investment is reduced by that attributable to the Group. As for the other changes of the owners’ equities except for the net gains and
losses, other comprehensive income and profits distribution of the joint ventures or associated enterprises (hereinafter referred to as
“changes of other owners’ equities”), the Group included which in the shareholders’ equities according to the portion ought to be
enjoyed or shared, and at the same time adjust the book value of the long-term equity investment.
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– The Group recognizes its share of the investee’s net profits or losses, other comprehensive income and changes of other owners’
equities after making appropriate adjustments to align the accounting policies or accounting periods with those of the Group based on
the fair values of the investee’s identifiable net assets at the date of acquisition. Unrealized profits and losses resulting from
transactions between the Group and its associates or jointly controlled enterprises are eliminated to the extent of the Group’s interest
in the associates or jointly controlled enterprises. Unrealized losses resulting from transactions between the Group and its associates
or jointly controlled enterprises are eliminated in the same way as unrealized gains but only to the extent that there is no evidence of
impairment.
– The Group discontinues recognizing its share of net losses of the investee after the carrying amount of the long-term equity
investment and any long-term interest that in substance forms part of the Group’s net investment in the associate or the jointly
controlled enterprise is reduced to zero, except to the extent that the Group has an obligation to assume additional losses. Where net
profits are subsequently made by the associate or jointly controlled enterprise, the Group resumes recognizing its share of those
profits only after its share of the profits equals the share of losses not recognized.
As for the impairment testing method and impairment provisions for investments in joint ventures and associated enterprises, please
refer to V. Significant Accounting Policies and Estimates-31. Long-term Asset Impairment.
(3) The basis for determination of joint control or significant influence over investee enterprise
Joint control refers to the control jointly owned on certain arrangement according to relevant agreement and the relevant activities of
the arrangement (which are the activities cause significant influences on the arrangement) could only execute the decision-making
through the unanimous consent of the parties sharing control.
The following evidences shall be considered when determining whether the Group can exercise joint control over an investee:
No single venture is in a position to control the operating activities unilaterally;
Operating decisions relating to the investee’s economic activity require the unanimous consent of the parties sharing control.
Significant influence is the power to participate in the financial and operating policy decisions of an investee but is not control or
joint control over those policies.
23. Investment Property
Measurement model for investment property
Cost measurement
Method of depreciation and amortization
The Company classified its real estate held for earning rents or capital appreciation or for both into the investment property. The
Company applied the cost model to measure the investment real estate. Namely, it would be presented in the Balance Sheet through
deducting the accumulated depreciation, amortization and the depreciation reserves from the costs. Besides, the Company would
calculate and withdraw or amortize the investment real estate by using the straight-line method within the service life through
deducting the predicted net residual value and the accumulated provision reserves from the costs, unless the investment real estate
could meet corresponding held-for-sale conditions.
24. Fixed Assets
(1) Conditions for Recognition
Fixed assets represent the tangible assets held by the Group for use in the production of goods or supply of services for rental to
others or for operation and administrative purposes with useful lives over one year. The cost of a purchased fixed asset comprises the
purchase price, related taxes, and any directly attributable expenditure for bringing the asset to working condition for its intended use.
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The cost of self-constructed assets is measured in accordance with the policy set out in Note V. Significant Accounting Policies and
Estimates-25. Construction in Progress. Where parts of an item of fixed assets have different useful lives or provide benefits to the
Group in different patterns thus necessitating use of different depreciation rates or methods, each part is recognized as a separate
fixed asset. The subsequent costs, including the cost of replacing part of an item of fixed assets, are recorded into fixed asset cost
when the economic interests related to costs may flow into the Group, and the carrying amount of the replaced part is derecognized.
The costs of the day-to-day servicing of fixed assets are recognized in profit or loss as incurred. Fixed assets are stated in the balance
sheet at cost less accumulated depreciation and impairment losses.
(2) Depreciation Methods
Category of fixed assets Depreciation method Depreciable life Residual value rate (%) Yearly depreciation
Workshops and buildings Straight-line method 10-50 years 3%-10% 1.8%-9.7%
Equipments Straight-line method 2-25 years 0-10% 3.6%-50%
Others Straight-line method 2-10 years 0-10% 9.0%-50%
(3) Recognition Basis, Pricing and Depreciation Method of Fixed Assets by Finance Lease
Naught
25. Construction in Progress
The cost of the self-constructed fixed asset including the engineering materials, direct labor, borrowing expenses met with the
capitalization condition (refer to V. Significant Accounting Policies and Estimates, Borrowing Costs and the necessary expenses
happened before the assets reach the expected available state.
When the self-constructed fixed asset reaches the available state, should transfer into the fixed assets, before which should be listed
among the construction in progress and not withdraw the depreciation.
26. Borrowing Costs
Borrowing costs incurred directly attributable to the acquisition and construction of a qualifying asset are capitalized as part of the
cost of the asset. Other borrowing costs are recognised as financial expenses when incurred.
During the capitalisation period, the amount of interest (including amortisation of any discount or premium on borrowing) to be
capitalised in each accounting period is determined as follows:
-Where funds are borrowed specifically for the acquisition and construction of a qualifying asset, the amount of interest to be
capitalised is the interest expense calculated using effective interest rates during the period less any interest income earned from
depositing the borrowed funds or any investment income on the temporary investment of those funds before being used on the asset.
-To the extent that the Group borrows funds generally and uses them for the acquisition and construction of a qualifying asset, the
amount of borrowing costs eligible for capitalisation is determined by applying a capitalisation rate to the weighted average of the
excess amounts of cumulative expenditure on the asset over the above amounts of specific borrowings. The capitalisation rate is the
weighted average of the interest rates applicable to the general-purpose borrowings.
The effective interest rate is determined as the rate that exactly discounts estimated future cash flow through the expected life of the
borrowing or, when appropriate, a shorter period to the initially recognised amount of the borrowings.
During the capitalisation period, exchange differences related to the principal and interest on a specific-purpose borrowing
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denominated in foreign currency are capitalised as part of the cost of the qualifying asset. The exchange differences related to the
principal and interest on foreign currency borrowings other than a specific-purpose borrowing are recognised as a financial expense
when incurred.
The capitalisation period is the period from the date of commencement of capitalisation of borrowing costs to the date of cessation of
capitalisation, excluding any period over which capitalisation is suspended. Capitalisation of borrowing costs commences when
expenditure for the asset is being incurred, borrowing costs are being incurred and activities of acquisition and construction that are
necessary to prepare the asset for its intended use are in progress, and ceases when the assets become ready for their intended use.
When the parts of the qualifying assets acquired or constructed that are eligible for capitalisation are completed separately, and each
part is available for use in other parts of the construction process or can be sold externally, and for the purpose of making the parts of
the assets ready for use or necessary for the sales status, the acquisition or construction activities have been substantially completed,
the Group ceases the capitalization of the borrowing costs related to the parts of the assets. Capitalisation of borrowing costs is
suspended when the acquisition and construction activities are interrupted abnormally for a period of more than three months.
27. Living Assets
Naught
28. Oil and Gas Assets
Naught
29. Right-of-Use Assets
The term "right-of-use assets" refers to the right of the Group as the lessee to use the leased assets during the lease term
(1) Initial measurement
After the commencement date of the lease term, the Group uses the cost for subsequent measurement of right-of-use assets. The cost
includes:
Initial measurement amount of lease obligation;
Lease payments made on or before the lease inception date (if a lease incentive exists, deduct the amount related to the lease
incentive already taken);
The initial direct costs incurred, i.e., the incremental costs incurred to achieve the lease;
costs expected to be incurred by the Group for dismantling and removing the leased asset(s), restoring the premises where the leased
asset(s) is/are located, or restoring the leased asset(s) to the status agreed in the leasing clauses (except for costs incurred for
inventory production).
(2) Follow-up measurement
After the commencement date of the lease term, the Group uses the cost model for subsequent measurement of right-of-use assets.
Depreciation of right-of-use assets
The Group depreciates the right-of-use assets in accordance with relevant depreciation provisions of the Accounting Standards for
Business Enterprises No. 4 - Fixed Assets.
Impairment of right-of-use assets
The Group will determine the impairment of the right-of-use assets and conduct accounting treatment of the impairment losses
already identified in accordance with relevant provisions of the Accounting Standards for Business Enterprises No. 8 - Asset
Impairment.
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30. Intangible Assets
(1) Pricing Method, Useful life and Impairment test
(a) Pricing method of intangible assets
Intangible assets are stated in the balance sheet at cost less accumulated amortization (where the estimated useful life is finite) and
impairment losses. For an intangible asset with finite useful life, its cost less residual value and impairment losses are amortized on
the straight-line method over its estimated useful life, unless the intangible assets are classified as held for sale.
(b) Estimated useful life of intangible assets with limited useful life
As for the intangible assets with limited useful life, after deducting the salvage of the cost and the impairment provision, the Group
amortized the intangible assets through straight line method within the expected service life, unless the intangible assets are classified
as held for sale.
The respective amortisation periods for intangible assets are as follows:
Item Amortisation period (years)
Land use rights 20 - 50 years
Patent and proprietary technology 5 - 20years
Computer software 3 - 10years
Others 5 - 20years
(c) Judgment basis of intangible assets with uncertain useful life
An intangible asset is regarded as having an indefinite useful life and is not amortized when there is no foreseeable limit to the period
over which the asset is expected to generate economic benefits for the Group. At the balance sheet date, the Group doesn’t have any
intangible assets with indefinite useful lives.
(d) Withdrawal of impairment provision of intangible assets
If any indication exists that an asset may be impaired, the recoverable amount of the asset is estimated. The recoverable amount of an
asset, asset group or set of asset groups is the higher of its fair value less costs to sell and its present value of expected future cash
flows. An asset group is the smallest identifiable group of assets that generates cash inflows that are largely independent of the cash
inflows from other assets or asset groups. An asset group is composed of assets directly relating to cash-generation. Identification of
an asset group is based on whether major cash inflows generated by the asset group are largely independent of the cash inflows from
other assets or asset groups. In identifying an asset group, the Group also considers how management monitors the Group’s
operations and how management makes decisions about continuing or disposing of the Group’s assets. An asset’s fair value less costs
to sell is the amount determined by the price of a sale agreement in an arm’s length transaction, less the costs that are directly
attributable to the disposal of the asset. The present value of expected future cash flows of an asset is determined by discounting
future cash flows, estimated to be derived from continuing use of the asset and from its ultimate disposal, to their present value using
a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset.
If the result of the recoverable amount calculation indicates that the recoverable amount of an asset is less than its carrying amount,
the carrying amount of the asset is reduced to its recoverable amount. That reduction is recognized as an impairment loss and charged
to profit or loss for the current period. A provision for impairment loss of the asset is recognized accordingly. For impairment losses
related to an asset group or a set of asset groups, first reduce the carrying amount of any goodwill allocated to the asset group or set
of asset groups, and then reduce the carrying amount of the other assets in the asset group or set of asset groups on a pro rata basis.
However, the carrying amount of an impaired asset will not be reduced below the highest of its individual fair value less costs to sell
(if determinable), the present value of expected future cash flows (if determinable) and zero.
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Once an impairment loss is recognized, it is not reserved in a subsequent period.
Note: the valuation method of intangible assets shall be described. For intangible assets with limited service life, the estimated
service life shall be described. Where the service life of intangible assets cannot be determined, the judgment basis of its service life
uncertainty and the procedures for rechecking its service life shall be described.
Note: the valuation method of intangible assets shall be described. For intangible assets with limited service life, the estimated
service life shall be described. Where the service life of intangible assets cannot be determined, the judgment basis of its service life
uncertainty and the procedures for rechecking its service life shall be described.
(2) Accounting Policies of Internal R & D Expenses
(a) Criteria of dividing the research phase and development phase of internal R&D project
Research is original and planned investigation undertaken with the prospect of gaining new scientific or technical knowledge and
understanding. Development is the application of research findings or other knowledge to a plan or design for the production of new
or substantially improved materials, devices, or products before the start of commercial production or use.
(b) Calculation of the expenditures of internal R&D project
Expenditures of internal R&D project of the Group divides into expenditures on the research phase and expenditures on the
development phase.
Expenditures on the research phase are recognized in profit or loss when incurred. Expenditures on the development phase are
capitalized if development costs can be measured reliably, the product or process is technically and commercially feasible, and the
Group intends to and has sufficient resources to complete development. Capitalized development costs are stated at cost less
impairment losses in the balance sheet. Other development expenditures are recognized as expenses in the period in which they are
incurred.
Note: Based on the characteristics of the Company's internal R&D projects, the specific criteria for dividing the research stage and
development stage, as well as the specific conditions for capitalization of the expenditure in the development stage shall be
described.
The Company shall comply with the disclosure requirements of the Guidelines No. 4 of Shenzhen Stock Exchange on Industry
Information Disclosure -- Listed Companies Engaging in Seed Industry and Planting Business.
Note: companies adopting different R&D modes shall disclose their R&D expenditure accounting policies according to the
characteristics of different R&D activities. For example, for overall R&D activities such as the building of scientific research system
and breakthrough varieties, as well as the specific R&D activities for the research of varieties in segment markets, the criteria for
dividing the research stage and the development stage and the specific conditions for capitalization of the expenditure in the
development stage shall be disclosed respectively.
31. Impairment of Long-term Assets
The Group executes the impairment test on the assets with impairment indication and evaluates the recoverable amount of the assets.
Besides, whether there is impairment indication, the Group will evaluate the recoverable amount of the goodwill at the year-end. The
Group will amortize the book value of the good according to the benefit situation in the synergistic effect from the enterprise merger
by the relevant assets group or the combination of the assets group and based on which executes the impairment test of the goodwill.
The recoverable amount of an asset, asset group or set of asset groups is the higher of its fair value less costs to sell and its present
value of expected future cash flows. An asset group is the smallest identifiable group of assets that generates cash inflows that are
largely independent of the cash inflows from other assets or asset groups. Fair value refers to the price received from selling an asset
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or paid for transferring a liability in the orderly transaction on the measurement date by the market participants. When the Group
evaluating the fair value, should consider the characteristics when executing pricing of the relevant assets or liabilities on the
measurement date of the market participants (including the assets conditions and the location, the restrictions of the sales or use of
the assets and so on) as well as adopt the evaluation technology that applicable under the current circumstance and owns adequate
available data and supported by other information. The evaluation technology used mainly including the market method, equity
method and cost method.
An asset group is the smallest identifiable group of assets that generates cash inflows that are largely independent of the cash inflows
from other assets or asset groups. An asset group is composed of assets directly relating to cash-generation. Identification of an asset
group is based on whether major cash inflows generated by the asset group are largely independent of the cash inflows from other
assets or asset groups. In identifying an asset group, the Group also considers how management monitors the Group’s operations and
how management makes decisions about continuing or disposing of the Group’s assets.
The present value of expected future cash flows of an asset is determined by discounting future cash flows, estimated to be derived
from continuing use of the asset and from its ultimate disposal, to their present value using a pre-tax discount rate that reflects current
market assessments of the time value of money and the risks specific to the asset.
If the result of the recoverable amount calculation indicates that the recoverable amount of an asset is less than its carrying amount,
the carrying amount of the asset is reduced to its recoverable amount. That reduction is recognized as an impairment loss and charged
to profit or loss for the current period. A provision for impairment loss of the asset is recognized accordingly. For impairment losses
related to an asset group or a set of asset groups, first reduce the carrying amount of any goodwill allocated to the asset group or set
of asset groups, and then reduce the carrying amount of the other assets in the asset group or set of asset groups on a pro rata basis.
However, the carrying amount of an impaired asset will not be reduced below the highest of its individual fair value less costs to sell
(if determinable), the present value of expected future cash flows (if determinable) and zero.
Once an impairment loss is recognized, it is not reserved in a subsequent period.
32. Long-term Deferred Expenses
Long-term deferred expenses are amortized on a straight-line method within the benefit period:
Item Amortization period (years)
Cost of construction and use of public facilities 10-15 years
Cost of operating lease assets improvement 2-10 years
Others 2-10 years
33. Contract Liabilities
Contract liabilities refer to the Company’s obligations in transferring commodities or services to the client for the received or
predicted consideration. Contract assets and contract liabilities under the same contract shall be presented based on the net amount.
34. Payroll
(1) Accounting Treatment of Short-term Compensation
During the accounting period of an employee' providing services, the Group recognizes the actual occurred or withdrawn worker
wages, bonuses and the social insurance charges such as the medical insurance premiums, industrial injury insurance premium and
birth insurance premium according to the specified benchmark and proportion as well as the housing funds as the liabilities and
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records which in the current gains and losses or the relevant asset costs.
(2) Accounting Treatment of the Welfare after Demission
The defined contribution plans participated by the Group including: the basic endowment insurance and unemployment insurance
among the social security system set up and managed by the government institutions according to the requirements of the relevant
Chinese regulations of the employees of the Group and the corporation pension plan approved and set up by the relevant departments
according to the relevant policies of the state enterprise annuity system. The payment amount of the basic endowment insurance and
the unemployment insurance should be calculated according to the benchmark and the proportion stipulated by the nation. The
enterprise annuity should be withdrawn according to the certain proportion of the total amount of the worker wages of the employees
voluntarily participated in the pension plan. During the accounting period of the employees providing the service, the Company
recognizes the deposited amount as the liabilities and records in the current gains and losses or the relevant asset costs.
(3) Accounting Treatment of the Demission Welfare
The Group relieves the labor relations with the employees before the maturity of the labor contracts or puts forward the advice for
compensation for encouraging the employees voluntarily accept the reduction, and recognizes the liabilities caused from the
demission welfare on the earlier date of the followings and at the same time records which in the current gains and losses:
When the Group could not unilaterally withdraw the demission welfare provided owning to the termination of the labor relations or
the reduction advice:
The Group owns specific and formal reorganization plan that concerning the payment of the demission welfare; and the time when
the reorganization plan had been executed or had announced the main content of the plan to the parties influenced by which, then led
all parties formed the rational expectations about the Group is going to execute the reorganization.
(4) Accounting Treatment of the Welfare of Other Long-term Staffs
The welfare of other long-term staffs refers to the all the employees compensation except for the short-term compensation, welfare
after demission and demission welfare, which including the long-term compensated absences, long-term sociability benefits and
long-term profit sharing plan and so on. The Group not involved with any other long-term employee's welfare.
35. Lease Liabilities
(1) Initial measurement
The Group initially measures the lease obligation at the present value of the lease payments outstanding at the commencement date of
the lease term.
1) Lease payments
The term "lease payments" refers to the payments made by the Group to the lessor in terms of the use of the leased asset(s) within the
lease term, including:
a) fixed lease payments and substantial fixed lease payments (if a lease incentive exists, deduct the amount related to the lease
incentive);
b) the variable lease payments that depend on indexation or ratio, which are determined according to the indexation or ratio on the
commencement date of the lease term in the initial measurement;
c) the exercise price of the purchase option, when applicable, if the Group is reasonably certain that the option will be exercised;
d) payments required to be made for exercising the option to terminate the lease if the lease term reflects that the Group will exercise
such an option;
e) payments estimated to be made in line with the secured residual value provided by the Group.
2) Rate of discount
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When calculating the present value of the lease payments, the Group uses the interest rate implicit in lease as the rate of discount,
which is the interest rate at which the sum of the present value of the lessor's lease receipts and the present value of the unsecured
residual value equals the sum of the fair value of the leased asset and the lessor's initial direct expenses. If the Group fails to
determine the interest rate implicit in lease, the incremental interest rate on borrowing will be used as the rate of discount. The
incremental interest rate on borrowing shall mean the interest rate payable by the Group to borrow funds under similar mortgage
conditions during similar periods to acquire assets close to the value of the right-of-use assets under similar economic circumstances.
(2) Follow-up measurement
The Group calculates the interest expenses of the lease obligations during each period of the lease term at a fixed periodic interest
rate, and includes them (Where the Accounting Standards for Business Enterprises No. 17 - Borrowing Costs and other standards
provide that such interest expenses shall be included in the cost of related assets, such provisions shall be observed.) in profit or loss
for the current period. Periodic interest rate refers to the rate of discount used by the Group for the initial measurement of lease
obligations, or the revised rate of discount used by the Group for the remeasurement of lease obligations due to a change in lease
payments or a change in the lease.
(3) Remeasurement
After the commencement date of the lease, if any of the following circumstances occurs, the Group will redetermine the lease
payment and remeasure the lease obligation using the present value of the changed lease payment and the revised rate of discount;
① there is a change in real fixed payment；
② there is a change in the amounts expected to be payable under a residual value guarantee；
③ there is a change in future lease payments resulting from a change in an index or a rate used to determine those payments；
④ there is a change in the assessment or the fact of an option to purchase、renewal and termination the underlying asset .
36. Provisions
A provision is recognized for an obligation related to a contingency if the Group has a present obligation that can be estimated
reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation.
The estimated liabilities should be executed the initial measurement according to the best estimated number needed to be spent when
caring out the relevant current obligations. As for those with significant influences on the time value of money, the estimated
liabilities should be confirmed according to the amount after the discount of the estimated future cash flow. When recognizing the
best estimated number, the Group comprehensively considers the factors such as the risks, uncertainty and the time value of money
related to the contingencies. There is a contiguous range of the needed expenses and the possibility of various results within the range
is the same and the best estimated number should be recognized according to the mediant within the range; under other circumstance,
the best estimated number should be handled respectively according to the following situations:
If the contingencies involve with a single item, should be recognized according to the most likely happened amount.
If the contingencies involve with various items, should be recognized according to the calculation of various possible results and
the relevant probabilities.
The Group executes the reexamination of the book value of the estimated liabilities on the balance sheet date and adjusts the book
value according to the current best estimated number.
37. Share-based Payment
The Group conducts accounting treatment in accordance with relevant provisions of the Accounting Standards for Business
Enterprises No. 11 - Share-based Payment and the application guide.
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Share-based payment is a transaction in which an enterprise grants equity instruments or takes liabilities based on equity instruments
in order to obtain services provided by employees and other parties.
Share-based payments include equity-settled share-based payment and cash-settled share-based payment.
If an equity-settled share-based payment is adopted for services provided by employees, it shall be measured at the fair value of the
equity instrument granted to employees.
Cash-settled share-based payment shall be measured at the fair value of liabilities calculated and determined on the basis of shares or
other equity instruments undertaken by the enterprise.
The Group makes corresponding accounting treatment according to the implementation schedule of the equity incentive plan.
(1) Grant date
For an equity-settled share-based payment, if the right can be exercised immediately after the grant, the fair value of the equity
instruments shall, on the grant date, be included in the relevant costs or expenses and the capital reserves shall be increased
accordingly.
For a cash-settled share-based payment, if the right can be exercised immediately after the grant, the fair value of the obligations
borne by the Company shall, on the grant date, be included in the relevant costs or expenses and the obligations shall be increased
accordingly.
Neither equity-settled share-based payments nor cash-settled share-based payments, except for share-based payments which can be
exercised immediately, undergo accounting treatment on the grant date.
(2) Each balance sheet date in the vesting period
Vesting period refers to the period during which the vesting conditions are satisfied.
For share-based payments subject to the prescribed period of service, the vesting period is the period from the grant date to the
vesting date. For share-based payments subject to prescribed performance, the length of the vesting period is estimated at the grant
date based on the most likely performance results.
For a share-based payment, if the right cannot be exercised until the vesting period ends or until the prescribed performance
conditions are met, on each balance sheet date within the vesting period, the services acquired in the current period shall, based on
the best estimate of the information about the exercisable right and at the fair value of the equity instrument on the grant date for
equity-settled share-based payments, be included in the costs or expenses and the corresponding obligations. For a cash-settled
share-based payment, the services acquired in the current period shall be included in the costs or expenses and the corresponding
obligations at the fair value of the obligations borne by the enterprise.
(3) Vesting date
Vesting date refers to the date on which the vesting conditions are satisfied and the employees and other parties have the right to
acquire equity instruments or cash from the enterprise.
Vesting date refers to the date on which employees and other parties exercise their rights and acquire cash or equity instruments.
For an equity-settled share-based payment, no adjustment will be made to the related costs or expenses recognized and to the total
owner's equity after the vesting date. On the vesting date, share capital or treasury stock and share premium shall be recognized based
on the exercise situation, and capital reserves recognized during the vesting period shall be carried forward.
For cash-settled share-based payments, the enterprise shall re-measure the fair value of the obligations on each balance sheet date and
settlement date after the vesting date and before the settlement of the relevant obligations, and the changes shall be included in the
profit and loss of the current period. On the vesting date, the recognized obligations shall be carried forward at the time of settlement
according to the exercise.
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38. Other Financial Instruments such as Preferred Shares and Perpetual Bonds
Refer to V.-10. Financial Instruments for details.
39. Revenue
Accounting policies for recognition and measurement of revenue
Revenue is the gross inflow of economic benefits arising in the course of the Group’s ordinary activities when the inflows result in
increase in shareholders’ equity, other than increase relating to contributions from shareholders.
Revenue is recognised when the Group satisfies the performance obligation in the contract by transferring the control over relevant
goods or services to the customers.
Where a contract has two or more performance obligations, the Group determines the stand-alone selling price at contract inception
of the distinct good or service underlying each performance obligation in the contract and allocates the transaction price in proportion
to those stand-alone selling prices. The Group recognises as revenue the amount of the transaction price that is allocated to each
performance obligation. The stand-alone selling price is the price at which the Group would sell a promised good or service
separately to a customer. If a stand-alone selling price is not directly observable, the Group considers all information that is
reasonably available to the entity, maximises the use of observable inputs to estimate the stand-alone selling price.
For the contract which the Group grants a customer the option to acquire additional goods or services (such as, loyalty points,
discount coupons for future purchase, etc.,), the Group assesses whether the option provides a material right to the customer. If the
option provides a material right, the Group recognises the option as a performance obligation, and recognises revenue when those
future goods or services are transferred or when the option expires. If the stand-alone selling price for a customer’s option to acquire
additional goods or services is not directly observable, the Group estimates it, taking into account all relevant information, including
the difference in the discount that the customer would receive when exercising the option or without exercising the option, and the
likelihood that the option will be exercised.
For the contract with a warranty, the Group analyses the nature of the warranty provided, if the warranty provides the customer with
a distinct service in addition to the assurance that the product complies with agreed-upon specifications, the Group recognises for the
promised warranty as a performance obligation. Otherwise, the Group accounts for the warranty in accordance with the requirements
of CAS No.13 – Contingencies.
The transaction price is the amount of consideration to which the Group expects to be entitled in exchange for transferring promised
goods or services to a customer, excluding amounts collected on behalf of third parties. The Group recognises the transaction price
only to the extent that it is highly probable that a significant reversal in the amount of cumulative revenue recognised will not occur
when the uncertainty associated with the variable consideration is subsequently resolved. To determine the transaction price for
contracts in which a customer promises consideration in a form other than cash, the Group measures the non-cash consideration at
fair value. If the Group cannot reasonably estimate the fair value of the non-cash consideration, the Group measures the consideration
indirectly by reference to the stand-alone selling price of the goods or services promised to the customer in exchange for the
consideration. Where the contract contains a significant financing component, the Group recognises the transaction price at an
amount that reflects the price that a customer would have paid for the promised goods or services if the customer had paid cash for
those goods or services when (or as) they transfer to the customer. The difference between the amount of promised consideration and
the cash selling price is amortised using an effective interest method over the contract term. The Group does not adjust the
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consideration for any effects of a significant financing component if it expects, at contract inception, that the period between when
the Group transfers a promised good or service to a customer and when the customer pays for that good or service will be one year or
less.
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The Group satisfies a performance obligation over time if one of the following criteria is met; or otherwise, a performance obligation
is satisfied at a point in time:
- the customer simultaneously receives and consumes the benefits provided by the Group’s performance as the Group performs;
- the customer can control the asset created or enhanced during the Group’s performance; or
- the Group’s performance does not create an asset with an alternative use to it and the Group has an enforceable right to
payment for performance completed to date.
For performance obligation satisfied over time, the Group recognises revenue over time by measuring the progress towards complete
satisfaction of that performance obligation. When the outcome of that performance obligation cannot be measured reasonably, but the
Group expects to recover the costs incurred in satisfying the performance obligation, the Group recognises revenue only to the extent
of the costs incurred until such time that it can reasonably measure the outcome of the performance obligation.
For performance obligation satisfied at a point in time, the Group recognises revenue at the point in time at which the customer
obtains control of relevant goods or services. To determine whether a customer has obtained control of goods or services, the Group
considers the following indicators:
- the Group has a present right to payment for the goods or services;
- the Group has transferred physical possession of the goods to the customer;
- the Group has transferred the legal title of the goods or the significant risks and rewards of ownership of the goods to the
customer; and
- the customer has accepted the goods or services.
The Group determines whether it is a principal or an agent, depending on whether it obtains control of the specified good or service
before that good or service is transferred to a customer. The Group is a principal if it controls the specified good or service before
that good or service is transferred to a customer, and recognises revenue in the gross amount of consideration to which it has received
(or receivable). Otherwise, the Group is an agent, and recognises revenue in the amount of any fee or commission to which it expects
to be entitled. The fee or commission is the net amount of consideration that the Group retains after paying the other party the
consideration, or is the established amount or proportion.
For the sale of a product with a right of return, the Group recognises revenue when the Group obtains control of that product, in the
amount of consideration to which the Group expects to be entitled in exchange for the product transferred (i.e. excluding the amount
of which expected to be returned), and recognises a refund liability for the products expected to be returned. Meanwhile, an asset is
recognised in the amount of carrying amount of the product expected to be returned less any expected costs to recover those products
(including potential decreases in the value of returned products), and carry forward to cost in the amount of carrying amount of the
transferred products less the above costs. At the end of each reporting period, the Group updates its assessment of future sales return.
If there is any change, it is accounted for as a change in accounting estimate.
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The Group determines whether the licence transfers to a customer either at a point in time or over time. If all of the following criteria
are met, revenue is recognised for performance obligations satisfied over time. Otherwise, revenue is recognised for performance
obligations satisfied at a point in time.
- the contract requires, or the customer reasonably expects, that the Group will undertake activities that significantly affect the
intellectual property to which the customer has rights;
- the rights granted by the licence directly expose the customer to any positive or negative effects of the Group’s activities; and
- those activities do not result in the transfer of a good or a service to the customer as those activities occur.
The Group recognises revenue for a sales-based or usage-based royalty promised in exchange for a licence of intellectual property
only when (or as) the later of the following events occurs:
- the subsequent sale or usage occurs; and
- the performance obligation has been satisfied (or partially satisfied).
For a change in the scope or price of a contract that is approved by the parties to the contract, the Group accounts for the contract
modification according to the following situations:
- The addition of promised goods or services are distinct and the price of the contract increases by an amount of consideration
reflects stand-alone selling prices of the additional promised goods or services, the Group shall account for a contract modification as
a separate contract.
- If the above criteria are not met, and the remaining goods or services are distinct from the goods or services transferred on the
date of the contract modification, the Group accounts for the contract modification as if it were a termination of the existing contract
and the creation of a new contract.
- If the above criteria are not met, and the remaining goods or services are not distinct from the goods or services transferred on
the date of the contract modification, the Group accounts for the contract modification as if it were a part of the existing contract. The
effect that the contract modification has on the revenue is recognised as an adjustment to revenue in the reporting period.
A contract asset is the Group’s right to consideration in exchange for goods or services that it has transferred to a customer when that
right is conditional on something other than the passage of time. The Group recognises loss allowances for expected credit loss on
contract assets (see Note III.9(6)). Accounts receivable is the Group’s right to consideration that is unconditional (only the passage of
time is required). A contract liability is the Group’s obligation to transfer goods or services to a customer for which the Group has
received consideration (or an amount of consideration is due) from the customer.
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The following is the description of accounting policies regarding revenue from the Group’s principal activities:
(1) Sale of goods
The sales contracts/orders signed between the Group and its customers usually contain various trading terms. Depending on the
trading terms, customers obtain control of the goods when the goods are delivered and received, or when they are received by the
carrier. Revenue of sale of goods is recognised at that point in time.
For the transfer of goods with a right of return, revenue is recognised to the extent that it is highly probable that a significant reversal
in the amount of cumulative revenue recognised will not occur. Therefore, the amount of revenue recognised is adjusted for the
amount expected to be returned, which are estimated based on the historical data. The Group recognises a refund liability based on
the amount expected to be returned. An asset is initially measured by reference to the former carrying amount of the product expected
to be returned less any expected costs to recover those products (including potential decreases in the value to the Group of returned
products). At each balance sheet date, the Group updates the measurement of the refund liability for changes in expectations about
the amount of funds. The above asset and liability are adjusted accordingly.
(2) Rendering of services
The Group recognises the revenue from rendering of services within a certain period of time according to the progress of the
performance as the customer simultaneously receives and consumes the benefits provided by the Group’s performance as the Group
performs. Otherwise, for performance obligation satisfied at a point in time, the Group recognises revenue at the point in time at
which the customer obtains control of relevant services.
Note: accounting policies used in revenue recognition and measurement, and judgments and changes in judgments that materially
affect the determination of the point and amount of revenue recognition include the method for determining the performance progress
and the reasons for adopting the method, the judgment relating to the point at which the customer acquires control of the transferred
commodity, the methods for determining the transaction price, estimating the variable consideration included in the transaction price,
apportioning transaction price, and measuring similar obligations such as the funds expected to be returned to the customer.
Differences in accounting policies for the recognition of revenue caused by different business models for the same type of business
Naught
Note: if there are differences in revenue recognition accounting policies for similar businesses due to different business models, they
shall be disclosed separately.
40. Government grants
Government grants are non-reciprocal transfers of monetary or non-monetary assets from the government to the Group except for
capital contributions from the government in the capacity as an investor in the Group.
A government grant is recognised when there is reasonable assurance that the grant will be received and that the Group will comply
with the conditions attaching to the grant.
If a government grant is in the form of a transfer of a monetary asset, it is measured at the amount received or receivable. If a
government grant is in the form of a transfer of a non-monetary asset, it is measured at fair value.
Government grants related to assets are grants whose primary condition is that the Group qualifying for them should purchase,
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construct or otherwise acquire long-term assets. Government grants related to income are grants other than those related to assets.
Those related to daily activities of the Company are included in other income or used to write off related cost based on the nature of
economic businesses, or included in non-operating income and expense in respect of those not related to daily activities of the
Company.
With respect to the government grants related to assets, if the Group first obtains government grants related to assets and then
recognizes the long-term assets purchased and constructed, deferred income is included in profit and loss based on a reasonable and
systematic approach by stages when related assets are initially depreciated or amortized; or the deferred income is written off against
the carrying amount of the asset when the asset becomes ready for its intended status or intended use. If the Group obtains
government grants related to the assets after relevant long-term assets are put into use, deferred income is included in profit and loss
based on a reasonable and systematic approach by stages within the remaining useful life of relevant assets, or the deferred income is
written off against the carrying amount of relevant asset when the grants are obtained; the assets shall be depreciated or amortized
based on the carrying amount after being offset and the remaining useful life of relevant assets.
For the government grants related to income which are used to compensate for related costs or losses of the Group in the future
period, it shall be recognized as deferred income, and included in profit and loss or used to offset related costs; otherwise it shall be
directly included in profit and loss or used to offset related costs.
In respect of the policy-based preferential loan interest subsidy obtained by the Group, if the interest subsidy is appropriated to the
lending bank which shall provide loans to the Group at the policy-based preferential interest rate, the actual loan amount is used as
the entry value and relevant borrowing costs are calculated on the basis of the loan principal and the preferential interest rate. If the
interest subsidy is directly appropriated to the Group, relevant borrowing costs shall be offset by corresponding interest subsidy. If
borrowing costs are capitalized as part of the cost of the asset (see Note V. Significant Accounting Policies and Estimates-26.
Borrowing Costs), the interest subsidy shall be used to offset relevant asset costs.
Note: Specific criteria for asset-related government subsidies and income-related government subsidies shall be distinguished. If the
government document does not specify the subsidy object, the judgment basis for determining the government subsidy is
asset-related or income-related shall be described. Whether government subsidies adopt the gross method or the net method shall be
disclosed. If the gross method is adopted, the amortization method of deferred income related to government subsidies and the
recognition method of the amortization period shall also be disclosed. The time when government subsidies are confirmed shall be
disclosed.
41. Deferred Income Tax Assets/Deferred Income Tax Liabilities
(1) Recognition basis of deferred income tax assets
The Group uses the balance sheet liability method to calculate its income tax, which is recognized in accordance with a difference
between the carrying amount of an asset or liability and its tax base (temporary difference). For any deductible loss that can be
carried forward to the next year to deduct the income tax according to the stipulations of tax law, relevant deferred income tax assets
shall be recognized. The deferred income tax asset shall be determined to the extent that the amount of taxable income to be offset by
the deductible loss or tax deduction to be likely obtained. For the deductible temporary difference relating to the investments of the
subsidiary companies, associated enterprises and joint enterprises, the enterprise shall recognize the corresponding deferred income
tax assets for those that meet the following requirements: the temporary differences are likely to be reversed in the expected future;
and it is likely to acquire any amount of taxable income that may be used for deducting the deductible temporary differences.
(2) Recognition basis of deferred income tax liabilities
The Group uses the balance sheet liability method to calculate its income tax, which is recognized in accordance with a difference
between the carrying amount of an asset or liability and its tax base (temporary difference). As for the temporary difference from the
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initial recognition of goodwill, no deferred income tax liabilities shall be recognized. The taxable temporary differences relating to the
investments of subsidiary companies, associated enterprises and joint enterprises shall recognized as corresponding deferred income
tax liabilities, however, excluding those that simultaneously satisfy the following conditions: the investing enterprise can control the
time of the reverse of temporary differences; and the temporary differences are unlikely to reverse in the excepted future.
42. Lease
(1) Accounting Treatment of Operating Lease
1. Lessee
The Group shall, when as the lessee, on the commencement date of the lease term, recognize the right-of-use assets and lease
obligations for the lease, unless it is a simplified short-term lease or low-value asset lease.
After the commencement date of the lease term, the Group uses the cost model for subsequent measurement of right-of-use assets. The
Group depreciates the right-of-use assets in accordance with relevant depreciation provisions of the Accounting Standards for Business
Enterprises No. 4 - Fixed Assets. If the lessee can reasonably ascertain that the ownership of the leasehold property will be obtained at
the end of the lease term, it shall depreciate the leasehold property over its remaining service life. If it is not reasonably certain that the
ownership of the leasehold property will be obtained at the end of the lease term, it shall depreciate the leased asset(s) over the lease
term or the remaining service life, whichever is shorter. The Group will determine the impairment of the right-of-use assets and conduct
accounting treatment of the impairment losses already identified in accordance with relevant provisions of the Accounting Standards
for Business Enterprises No. 8 - Asset Impairment.
The Group calculates the interest expenses of the lease obligations during each period of the lease term at a fixed periodic interest rate,
and includes them in profit or loss for the current period. Where the Accounting Standards for Business Enterprises No. 17 - Borrowing
Costs and other standards provide that such interest expenses shall be included in the cost of related assets, such provisions shall be
observed. For short-term leases and low-value asset leases which the group choose simplify accounting treatment,in each period within
the lease term, the relevant lease payments are included in cost of the related assets or profit or loss for the current period on a
straight-line basis or other reasonable methods.
2. Lessor
In the case of the Group is the lessor, it recognizes the receipts of the operating lease incurred during each period of the lease term as
rentals by the straight-line method or other reasonable methods. The Group capitalizes the initial direct costs related to the operating
lease upon incurrence thereof and, within the lease term, apportions and includes such costs in the current profit or loss on the basis
same as the recognition of rentals.
For the fixed assets in the assets under operating lease, the Group shall adopt the depreciation policy of similar assets to calculate and
distill depreciation. For other assets under operating lease, the Group shall amortize them in a systematic and reasonable manner in
accordance with the accounting standards for enterprises applicable to the assets. The Group will determine the impairment of assets
under operating lease and conduct accounting treatment in accordance with relevant provisions of the Accounting Standards for
Business Enterprises No. 8 - Asset Impairment.
(2) Accounting Treatments of Financial Lease
1. Lessee
The Group shall, when as the lessee, on the commencement date of the lease term, recognize the right-of-use assets and lease
obligations for the lease, unless it is a simplified short-term lease or low-value asset lease.
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After the commencement date of the lease term, the Group uses the cost model for subsequent measurement of right-of-use assets. The
Group depreciates the right-of-use assets in accordance with relevant depreciation provisions of the Accounting Standards for Business
Enterprises No. 4 - Fixed Assets. If the lessee can reasonably ascertain that the ownership of the leasehold property will be obtained at
the end of the lease term, it shall depreciate the leasehold property over its remaining service life. If it is not reasonably certain that the
ownership of the leasehold property will be obtained at the end of the lease term, it shall depreciate the leased asset(s) over the lease
term or the remaining service life, whichever is shorter. The Group will determine the impairment of the right-of-use assets and conduct
accounting treatment of the impairment losses already identified in accordance with relevant provisions of the Accounting Standards
for Business Enterprises No. 8 - Asset Impairment.
The Group calculates the interest expenses of the lease obligations during each period of the lease term at a fixed periodic interest rate,
and includes them in profit or loss for the current period. Where the Accounting Standards for Business Enterprises No. 17 - Borrowing
Costs and other standards provide that such interest expenses shall be included in the cost of related assets, such provisions shall be
observed. For short-term leases and low-value asset leases which the group choose simplify accounting treatment,in each period within
the lease term, the relevant lease payments are included in cost of the related assets or profit or loss for the current period on a
straight-line basis or other reasonable methods.
2. Lessor
The Group shall, when as the lessor, on the commencement date of the lease term, recognize the finance lease receivables for the
finance lease and derecognize the leased asset(s) of the finance lease. The Group shall also calculate and confirm the interest income at
a fixed periodic interest rate in each period in the lease term.
43. Other Significant Accounting Policies and Estimates
Naught
44. Changes in Significant Accounting Policies and Estimates
(1) Changes in Significant Accounting Policies
√ Applicable □ Not applicable
Contents of changes in accounting policies and reasons
Approval procedures Note
thereof
The Ministry of Finance issued the revised Accounting The Accounting Standards for Business
Reviewed and approved by
Standards for Business Enterprises No.21-Leases Enterprises No.21-Leases did not cause any
the Board of Directors and
(hereinafter referred to as the “New Standards governing significant influence on the financial status
the Executive Committee
Leases”) on 7 December 2018. and operating results of the Company.
(2) Changes in Accounting Estimates
□ Applicable √ Not applicable
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BOE Technology Group Co., Ltd. Interim Report 2021
(3) Adjustments to the Financial Statements at the Beginning of the First Execution Year of any New
Standards Governing Leases since 2021
Applicable
Items of balance sheets at the beginning of the year need to be adjusted or not
√ 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
Accounts receivable financing 0.00 0.00 0.00
Prepayments 1,119,595,984.00 1,111,189,292.00 -8,406,692.00
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 agreements 0.00 0.00 0.00
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 128,985,457,255.00 128,977,050,563.00 -8,406,692.00
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
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BOE Technology Group Co., Ltd. Interim Report 2021
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 224,866,586,069.00 224,770,354,605.00 -96,231,464.00
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 0.00 619,995,119.00 619,995,119.00
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
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 295,271,349,076.00 295,781,132,116.00 509,783,040.00
Total assets 424,256,806,331.00 424,758,182,679.00 501,376,348.00
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 agreements 0.00 0.00 0.00
Customer deposits and interbank deposits 0.00 0.00 0.00
Payables for acting trading of securities 0.00 0.00 0.00
Payables for underwriting of securities 0.00 0.00 0.00
Employee benefits payable 3,758,623,797.00 3,758,623,797.00 0.00
Taxes payable 1,077,686,869.00 1,077,686,869.00 0.00
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BOE Technology Group Co., Ltd. Interim Report 2021
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 payable 0.00 0.00 0.00
Reinsurance payables 0.00 0.00 0.00
Liabilities directly associated with assets held for sale 0.00 0.00 0.00
Current portion of non-current liabilities 24,500,550,121.00 24,538,420,167.00 37,870,046.00
Other current liabilities 2,194,716,852.00 2,194,716,852.00 0.00
Total current liabilities 104,959,322,995.00 104,997,193,041.00 37,870,046.00
Non-current liabilities:
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 0.00 565,344,418.00 565,344,418.00
Long-term payables 2,114,175,683.00 2,012,337,567.00 -101,838,116.00
Long-term employee benefits 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 145,899,748,622.00 146,363,254,924.00 463,506,302.00
Total liabilities 250,859,071,617.00 251,360,447,965.00 501,376,348.00
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
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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 Company as
103,276,766,835.00 103,276,766,835.00 0.00
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 424,256,806,331.00 424,758,182,679.00 501,376,348.00
Note for adjustment:
The Company starts to implement the Accounting Standards for Business Enterprises No. 21-Leases revised in 2018 since 1 January
2021 and adjusts the financial statements of the first execution year as required by standards.
Balance Sheet of the Company as the Parent
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
Accounts receivable 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
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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
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 assets held for sale 0.00 0.00 0.00
Current portion of non-current liabilities 7,847,210,073.00 7,847,210,073.00 0.00
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:
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BOE Technology Group Co., Ltd. Interim Report 2021
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
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 starts to implement the Accounting Standards for Business Enterprises No. 21-Leases revised in 2018 since 1 January
2021 and adjusts the financial statements of the first execution year as required by standards.
(4) Retroactive Adjustments to Comparative Data of Prior Years when First Execution of any New
Standards Governing Leases since 2021
□ Applicable √ Not applicable
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BOE Technology Group Co., Ltd. Interim Report 2021
45. Others
Naught
VI. Taxation
1. Main Taxes and Tax Rate
Category of taxes Tax basis Tax rate
Output VAT is calculated on the income from product sales, provision of
taxable labor services and provision of taxable services, based on tax
VAT 6%, 9%, 13%
laws. The remaining balance of output VAT, after subtracting the
deductible input VAT of the period, is VAT payable.
Consumption tax Naught Naught
Urban maintenance and
Based on VAT paid and the VAT tax free for the Period 7%, 5%
construction tax
Enterprise income tax Based on taxable income 15%-30%
Education surcharge and local
Based on VAT paid and the VAT tax free for the Period 3%, 2%
education surcharge
Notes of the disclosure situation of the taxpaying bodies with different enterprises income tax rate
Name Income tax rate
BOE Technology Group Co., Ltd. 15%
Beijing BOE Optoelectronics Technology Co., Ltd. 15%
Chengdu BOE Optoelectronics Technology Co., Ltd. 15%
Hefei BOE Optoelectronics Technology Co., Ltd. 15%
Beijing BOE Display Technology Co., Ltd. 15%
Hefei Xinsheng Optoelectronics Technology Co., Ltd. 15%
Erdos Yuansheng Optoelectronics Co., Ltd. 15%
Chongqing BOE Optoelectronics Technology Co., Ltd. 15%
Hefei BOE Display Technology Co., Ltd. 15%
Fuzhou BOE Optoelectronics Technology Co., Ltd. 15%
Mianyang BOE Optoelectronics Technology Co., Ltd. 15%
Wuhan BOE Optoelectronics Technology Co., Ltd. 15%
Nanjing BOE Display Technology Co., Ltd. 15%
Chengdu CEC Panda Display Technology Co., Ltd. 15%
BOE Optical Science and Technology Co., Ltd. 15%
Beijing BOE Tea Valley Electronic Co., Ltd. 15%
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BOE Technology Group Co., Ltd. Interim Report 2021
Hefei BOE Display Light Source Co., Ltd. 15%
Chongqing BOE Display Lighting Co., Ltd. 15%
BOE (Hebei) Mobile Display Technology Co., Ltd. 15%
Beijing Smart-aero Display Technology Co., Ltd. 15%
Chongqing BOE Intelligent Electronic System Co., Ltd. 15%
Suzhou K-Tronics Co., Ltd. 15%
Beijing BOE Vacuum Electronics Co., Ltd. 15%
Beijing BOE Vacuum Technology Co., Ltd. 15%
BOE Smart IoT Technology Co., Ltd. 15%
BOE Regenerative Medical Technologies Co. Ltd. 15%
Beijing BOE Health Technology Co., Ltd. 15%
Chengdu BOE Smart Technology Co., Ltd. 15%
Chengdu BOE Smart IoT Technology Co., Ltd. 15%
Hefei BOE Semi-conductor Co., Ltd. 15%
Beijing BOE Energy Technology Co., Ltd. 15%
Chongqing BOE Electronic Technology Co., Ltd. 15%
Beijing BOE Sensor Technology Co., Ltd. 15%
2. Tax Preference
Authority of Approval, Approval Document No. and Valid
Company Policy basis
Period
In June 2016, Ministry of Finance
Hefei BOE Display In 2016, Ministry of Finance, General Administration of
issued [2016] No.30 Document.
Technology Co., Ltd. Customs and SAT jointly issued CS [2016] No.30 Notice
According to the document, in terms
Fuzhou BOE Optoelectronics on various Policies related to VAT Payment by
of the new FPD project and new key
Technology Co., Ltd. Installments for the Imported Equipment Involved in the
equipment imported between 1
Chengdu BOE Optoelectronics New FPD Project. According to the document, in terms of
January 2015 and 31 December 2018.
Technology Co., Ltd. the new FPD project and new key equipment imported
Import VAT could be paid by
Mianyang BOE between 1 January 2015 and 31 December 2018. Import
installments within 6 years (72
Optoelectronics Technology VAT could be paid by installments within 6 years (72
consecutive months) after the first
Co., Ltd. consecutive months) after the first device was imported.
device was imported.
Mianyang BOE In December 2019, the Ministry of In 2019, the Ministry of Finance, the GACC and the State
Optoelectronics Technology Finance issued Document [2019] No. Taxation Administration and the Ministry of Finance issued
Co., Ltd. 47, which approved the import of key the C.G.SH. [2019] No. 47 Notice on the Phased VAT
Chongqing BOE Display new equipment for the Active-matrix Payment Policy for Imported Equipment of Active-matrix
Technology Co., Ltd. Organic Light Emitting Diode Organic Light Emitting Diode Display Device Project,
(AMOLED) display device project which approved the import of key new device for
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BOE Technology Group Co., Ltd. Interim Report 2021
between 1 January 2019 and 31 Active-matrix Organic Light Emitting Diode (AMOLED)
December 2020, with import display device project between 1 January 2019 and 31
value-added tax allowed to be paid in December 2020, with import value-added tax allowed to be
phases over a period of six years (72 paid in phases over a period of six years (72 consecutive
consecutive months) after the import of months) after the import of the first device.
the first equipment.
3. Others
Naught
VII. Notes on Major Items in Consolidated Financial Statements of the Company
1. Cash At Bank and on Hand
Unit: RMB
Item Ending balance Beginning balance
Cash on hand 1,084,972.00 401,041.00
Bank deposits 66,486,441,590.00 68,205,179,419.00
Other monetary assets 4,901,259,661.00 5,488,715,635.00
Total 71,388,786,223.00 73,694,296,095.00
Of which: the total amount deposited overseas 8,495,452,936.00 7,025,632,935.00
Total amount of restriction in use by guaranteed, pledged or frozen 4,898,511,123.00 5,488,099,634.00
Other notes:
Including: Total overseas deposits were equivalent to RMB8,495,452,936.220 (2020: RMB7,025,632,935).
As at 30 June 2021, the Group did not pledge any monetary assets for short-term borrowings and long-term borrowings, and other
restricted monetary funds, amounting to RMB4,898,511,123, were mainly the deposits in commercial banks as security.
As at 31 December 2020, other monetary assets were pledged by the Group amounting to USD152,091,672 for short-term loans, and
RMB99,133,679 were pledged for long-term loans. The rest of other restricted monetary funds, amounting to RMB 4,396,583,003,
were the deposits in commercial banks as security.
2. Financial Assets Held for Trading
Unit: RMB
Item Ending balance Beginning balance
Financial assets at fair value through profit or loss 2,654,184,080.00 4,367,201,833.00
Of which:
Wealth management products 2,654,184,080.00 4,367,201,833.00
Financial assets designated to be measured at fair value and changes thereof 0.00 0.00
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BOE Technology Group Co., Ltd. Interim Report 2021
recorded into the current profit or loss
Of which:
Total 2,654,184,080.00 4,367,201,833.00
Other notes: N/A
3. Notes Receivable
(1) Notes Receivable Listed by Category
Unit: RMB
Item Ending balance Beginning balance
Bank acceptance bill 174,208,779.00 215,994,373.00
Commercial acceptance bill 0.00 0.00
Total 174,208,779.00 215,994,373.00
Unit: RMB
Ending balance Beginning balance
Provision for Provision for
Book value Book value
impairment impairment
Category Withdra Carrying Withdraw Carrying
Percenta wal amounts Percentag al amounts
Amount Amount Amount Amount
ge proportio e proportio
n n
Notes receivable for
which bad debt
N/A
provision accrued
separately
Of which:
Notes receivable for
which bad debt
N/A
provision accrued by
group
Of which:
N/A
Total
Bad debt provision withdrawn separately: 0.00
Unit: RMB
Name Ending balance
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BOE Technology Group Co., Ltd. Interim Report 2021
Book value Provision for impairment Withdrawal proportion Reason for withdrawal
N/A
Total -- --
Bad debt provision accrued by group: 0.00
Unit: RMB
Ending balance
Name
Book value Provision for impairment Withdrawal proportion
N/A
Total --
Notes of the basis of recognizing the group: None
If the bad debt provision for notes receivable was withdrawn in accordance with the general model of expected credit losses,
information related to bad debt provision shall be disclosed by reference to the disclosure method of other receivables:
□ Applicable √ Not applicable
(2) Bad Debt Provision Withdrawn, Reversed or Recovered in the Reporting Period
Information of withdrawal of bad debt provision:
Unit: RMB
Changes in the Reporting Period
Beginning
Category Reversal or Ending balance
balance Withdrawal Write-off Others
recovery
N/A
Total
Of which bad debt provision reversed or recovered with significant amount:
□ Applicable √ Not applicable
(3) Notes Receivable Pledged by the Company at the Period-end
Unit: RMB
Item Amount
Bank acceptance bill 0.00
Commercial acceptance bill 0.00
Total 0.00
(4) Notes Receivable which Had Endorsed by the Company or Had Discounted and Had not Due on the
Balance Sheet Date at the Period-end
Unit: RMB
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BOE Technology Group Co., Ltd. Interim Report 2021
Amount of recognition termination at the Amount of not terminated recognition at
Item
period-end the period-end
Bank acceptance bill 0.00 29,880,198.00
Commercial acceptance bill 0.00 0.00
Total 0.00 29,880,198.00
(5) Notes Transferred to Accounts Receivable Because Drawer of the Notes Failed to Execute the Contract
or Agreement
Unit: RMB
Item Amount of the notes transferred to accounts receivable at the period-end
Commercial acceptance bill 0.00
Total 0.00
Other notes:
N/A
(6) Notes Receivable with Actual Verification for the Reporting Period
Unit: RMB
Item Amount verified
N/A
Of which, verification of significant notes receivable:
Unit: RMB
Verification Whether generated from
Subsidiary Nature Amount verified Reason for verification
procedures performed connected transactions
N/A
Total
Notes of the verification of notes receivable: Non
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BOE Technology Group Co., Ltd. Interim Report 2021
4. Accounts Receivable
(1) Accounts Receivable Disclosed by Category
Unit: RMB
Ending balance Beginning balance
Book value Provision for impairment Book value Provision for impairment
Category
Withdrawal Carrying amounts Withdrawal Carrying amounts
Amount Percentage Amount Amount Percentage Amount
proportion proportion
Accounts receivable for which bad
1,452,996,712.00 4.01% 68,560,314.00 4.72% 1,384,436,398.00 1,097,075,607.00 4.76% 41,752,588.00 3.81% 1,055,323,019.00
debt provision accrued separately
Of which:
Accounts receivable for which bad 34,741,614,414.00 95.99% 20,383,276.00 0.06% 34,721,231,138.00
21,929,927,770.00 95.24% 16,110,434.00 0.07% 21,913,817,336.00
debt provision accrued by group
Of which:
Total 36,194,611,126.00 100.00% 88,943,590.00 0.25% 36,105,667,536.00 23,027,003,377.00 100.00% 57,863,022.00 0.25% 22,969,140,355.00
Bad debt provision withdrawn separately: None
Unit: RMB
Ending balance
Name
Book value Provision for impairment Withdrawal proportion Reason for withdrawal
N/A
Total
Bad debt provision accrued by group: None
Unit: RMB
Name Ending balance
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BOE Technology Group Co., Ltd. Interim Report 2021
Book value Provision for impairment Withdrawal proportion
Portfolio of credit risk 36,194,611,126.00 88,943,590.00 0.25%
Total 36,194,611,126.00 88,943,590.00 --
-Notes of the basis of recognizing the group:
N/A
Please refer to the relevant information of disclosure of bad debt provision of other accounts receivable if adopting the general mode of expected credit loss to withdraw bad debt provision of
notes receivable.
√ Applicable □ Not applicable
2021
Book value Provision for impairment
Category Amount Proportion (%) Amount Proportion (%) Carrying amounts
Bad debt provision
withdrawn separately
-Customers with high 70,148,590.00 0.19% 68,560,314.00 97.74% 1,588,276.00
credit risk
Customers with low 1,382,848,122.00 3.82% 0.00 0.00% 1,382,848,122.00
credit risk
Bad debt provision
accrued by group
-Customers with 34,741,614,414.00 95.99% 20,383,276.00 0.06% 34,721,231,138.00
medium credit risk
Total 36,194,611,126.00 100.00% 88,943,590.00 0.25% 36,105,667,536.00
144
BOE Technology Group Co., Ltd. Interim Report 2021
Disclosed by aging
Unit: RMB
Ageing Ending balance
Within 1 year (including 1 year） 35,643,956,238.00
1 to 2 years 205,598,700.00
2 to 3 years 221,515,431.00
Over 3 years 123,540,757.00
3 to 4 years 92,936,694.00
4 to 5 years 6,764,216.00
More than 5 years 23,839,847.00
Total 36,194,611,126.00
(2) Bad Debt Provision Withdrawn, Reversed or Recovered in the Reporting Period
Information of withdrawal of bad debt provision:
Unit: RMB
Beginning Changes in the Reporting Period
Category Ending balance
balance Withdrawal Reversal or recovery Write-off Others
Bad debt of
57,863,022.00 45,978,502.00 -12,155,388.00 -2,439,492.00 -303,054.00 88,943,590.00
accounts receivable
Total 57,863,022.00 45,978,502.00 -12,155,388.00 -2,439,492.00 -303,054.00 88,943,590.00
Of which bad debt provision reversed or recovered with significant amount:
Unit: RMB
Subsidiary Amount reversed or recovered Way of recovery
N/A
Total
(3) Accounts Receivable with Actual Verification during the Reporting Period
Unit: RMB
Item Amount verified
N/A
Of which the verification of significant accounts receivable:
Unit: RMB
Verification Whether generated
Reason for
Subsidiary Nature Amount verified procedures from connected
verification
performed transactions
145
BOE Technology Group Co., Ltd. Interim Report 2021
N/A
Total
Notes: None
(4) Top 5 Accounts Receivable in Ending Balance Collected according to the Arrears Party
Unit: RMB
Ending balance of accounts Proportion to the total ending Ending balance of bad debt
Subsidiary
receivable balance of accounts receivable provisions
Sum of top 5 accounts
15,597,173,326.00 43.09% 0.00
receivable
Total 15,597,173,326.00 43.09%
(5) Accounts Receivable Derecognized Due to the Transfer of Financial Assets
N/A
(6) The Amount of the Assets and Liabilities Formed by the Transfer and the Continued Involvement of
Accounts Receivable
N/A
Other notes:
N/A
5. Accounts Receivable Financing
Unit: RMB
Item Ending balance Beginning balance
N/A
Total 0.00 0.00
Increase/decrease in accounts receivable financing in the Reporting Period and changes in fair value
□ Applicable √ Not applicable
If the provision for impairment of accounts receivable financing was withdrawn in accordance with the general model of expected
credit losses, information related to provision for impairment shall be disclosed by reference to the disclosure method of other
receivables:
□ Applicable √ Not applicable
Other notes:
N/A
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BOE Technology Group Co., Ltd. Interim Report 2021
6. Prepayments
(1) List by Aging Analysis
Unit: RMB
Ending balance Beginning balance
Ageing
Amount Percentage Amount Percentage
Within 1 year 1,002,884,882.00 94.56% 1,000,241,405.00 90.02%
1 to 2 years 13,406,564.00 1.26% 18,143,348.00 1.63%
2 to 3 years 16,366,855.00 1.55% 84,733,056.00 7.62%
Over 3 years 27,877,063.00 2.63% 8,071,483.00 0.73%
Total 1,060,535,364.00 -- 1,111,189,292.00 --
Notes of the reasons of the prepayment aging over 1 year with significant amount but failed settled in time:
The Group has no such over-1-year-old prepayments with a substantial amount that were not settled in time.
(2) Top 5 of the Ending Balance of the Prepayments Collected according to the Prepayment Target
The total amount of the prepayment of the top 5 of the Group at the period-end was of RMB599,318,890.00 that covered 56.51% of
the total amount of the ending balance of the prepayment at the period-end.
Other notes: N/A
7. Other Accounts Receivable
Unit: RMB
Item Ending balance Beginning balance
Interest receivable 859,163.00 2,037,452.00
Dividends receivable 11,322,356.00 1,842,137.00
Other receivables 688,677,833.00 654,235,244.00
Total 700,859,352.00 658,114,833.00
(1) Interest Receivable
1) Category of Interest Receivable
Unit: RMB
Item Ending balance Beginning balance
Fixed time deposit 859,163.00 2,037,452.00
Entrusted loan 0.00 0.00
Bond investment 0.00 0.00
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BOE Technology Group Co., Ltd. Interim Report 2021
Total 859,163.00 2,037,452.00
2) Significant Overdue Interest
Unit: RMB
Whether occurred
Borrower Ending balance Overdue time Reason impairment and its
judgment basis
N/A
Total
Other notes: N/A
3) Withdrawal of Bad Debt Provision
□ Applicable √ Not applicable
(2) Dividend Receivable
1) Category of Dividend Receivable
Unit: RMB
Item(or investee) Ending balance Beginning balance
Bank of Chongqing 9,397,735.00 0.00
Beijing Electronic Zone High-tech Group 1,924,621.00
1,842,137.00
Co., Ltd.
Total 11,322,356.00 1,842,137.00
2) Significant Dividend Receivable Aging Over One Year
Unit: RMB
Whether occurred
Item(or investee) Ending balance Ageing Unrecovered reason impairment and its
judgment basis
N/A
Total
3) Withdrawal of Bad Debt Provision
□ Applicable √ Not applicable
Other notes: N/A
148
BOE Technology Group Co., Ltd. Interim Report 2021
(3) Other Accounts Receivable
1) Other Account Receivable Classified by Account Nature
Unit: RMB
Nature of other receivables Ending carrying balance Beginning carrying balance
VAT refunds and export tax rebate 129,497.00 41,149,236.00
Amount due from equity transfer 200,000,000.00 200,000,000.00
Security deposits 281,840,889.00 171,340,282.00
Others 215,637,047.00 250,789,738.00
Total 697,607,433.00 663,279,256.00
2) Withdrawal of Bad Debt Provision
Unit: RMB
Phase I Phase II Phase III
Expected credit Expected credit losses for Expected credit losses for
Provision for impairment Total
losses in the next 12 the whole existence period the whole existence period
months (no credit impairment) (with credit impairment)
Balance of 1 January
0.00 0.00 9,044,012.00 9,044,012.00
2021
Balance of 1 January
2021 in the current —— —— —— ——
period
--Transferred to the
0.00 0.00 0.00 0.00
Phase II
-Transfer to Third stage 0.00 0.00 0.00 0.00
-Reverse to Second stage 0.00 0.00 0.00 0.00
-Reverse to First stage 0.00 0.00 0.00 0.00
Withdrawal of the current
0.00 0.00 45,783.00 45,783.00
period
Reversal of the current
0.00 0.00 288.00 288.00
period
Write-offs of the current
0.00 0.00 0.00 0.00
period
Verification of the
0.00 0.00 159,907.00 159,907.00
current period
Other changes 0.00 0.00 0.00 0.00
149
BOE Technology Group Co., Ltd. Interim Report 2021
Balance of 30 June 2021 0.00 0.00 8,929,600.00 8,929,600.00
Changes of carrying amount with significant amount changed of loss provision in the current period
□ Applicable √ Not applicable
Disclosed by aging
Unit: RMB
Ageing Ending balance
Within 1 year (including 1 year） 388,017,020.00
1 to 2 years 38,830,906.00
2 to 3 years 13,390,411.00
Over 3 years 257,369,096.00
3 to 4 years 11,835,682.00
4 to 5 years 591,752.00
More than 5 years 244,941,662.00
Total 697,607,433.00
3) Bad Debt Provision Withdrawn, Reversed or Recovered in the Reporting Period
Information of withdrawal of bad debt provision:
Unit: RMB
Changes in the Reporting Period
Category Beginning balance Reversal or Ending balance
Withdrawal Write-off Others
recovery
Bad debt provisions for
9,044,012.00 45,783.00 -288.00 -159,907.00 0.00 8,929,600.00
other receivables
Total 9,044,012.00 45,783.00 -288.00 -159,907.00 0.00 8,929,600.00
Of which bad debt provision reversed or recovered with significant amount:
Unit: RMB
Subsidiary Amount reversed or recovered Way of recovery
N/A
Total --
4) Other Accounts Receivable with Actual Verification during the Reporting Period
Unit: RMB
Item Amount verified
Customer 1 159,907.00
Of which the verification of significant other accounts receivable:
150
BOE Technology Group Co., Ltd. Interim Report 2021
Unit: RMB
Verification
Reason for Whether generated from
Subsidiary Nature Amount verified procedures
verification connected transactions
performed
N/A
Total -- -- -- --
Notes: None
5) Top 5 Other Accounts Receivable in Ending Balance Collected according to the Arrears Party
Unit: RMB
Ending
Proportion to the total
balance of
Subsidiary Nature Ending balance Ageing ending balance of
bad debt
other receivables
provisions
Customer A Others 200,000,000.00 More than 5 years 28.54% 0.00
Customer B Others 78,240,796.00 Within 1 year 11.16% 0.00
Customer C Security deposits 38,327,127.00 Within 1 year 5.47% 0.00
Customer D Security deposits 18,947,166.00 Within 1 year 2.70%
Water, electricity, gas, heat, power 18,725,114.00 Within 1 year and 1 to 2.67%
Customer E 0.00
fees, etc. 2 years
Total -- 354,240,203.00 -- 50.54% 0.00
6) Accounts Receivable Involving Government Grants
Unit: RMB
Project of government Estimated recovering
Subsidiary Ending balance Ending aging
grants time, amount and basis
N/A
7) Other Accounts Receivable Derecognized Due to the Transfer of Financial Assets
N/A
8) Amount of Assets and Liabilities Due to the Transfer of Other Account Receivable and Continued
Involvement
N/A
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BOE Technology Group Co., Ltd. Interim Report 2021
8. Inventories
Whether the Company shall comply with the disclosure requirements for real estate industry
No
(1) Category of Inventories
Unit: RMB
Ending balance Beginning balance
Falling price Falling price
reserves or reserves or
Item impairment impairment
Book value Carrying amounts Book value Carrying amounts
provision for provision for
contract contract
performance costs performance costs
Raw
11,441,157,031.00 1,808,646,557.00 9,632,510,474.00 8,068,822,655.00 933,491,391.00 7,135,331,264.00
materials
Work in
3,400,711,094.00 635,561,765.00 2,765,149,329.00 2,811,789,420.00 583,885,537.00 2,227,903,883.00
progress
Finished
13,042,997,061.00 2,115,071,978.00 10,927,925,083.00 10,074,715,347.00 1,767,518,826.00 8,307,196,521.00
goods
Consumable
168,412,988.00 0.00 168,412,988.00 162,817,575.00 0.00 162,817,575.00
s
Consumptiv
e living 0.00 0.00 0.00 0.00 0.00 0.00
assets
Costs to
fulfil a
contract 70,152,454.00 0.00 70,152,454.00 42,205,247.00 0.00 42,205,247.00
with a
customer
Goods in
0.00 0.00 0.00 0.00 0.00 0.00
transit
Total 28,123,430,628.00 4,559,280,300.00 23,564,150,328.00 21,160,350,244.00 3,284,895,754.00 17,875,454,490.00
(2) Falling Price Reserves of Inventories and Impairment Provision for Contract Performance Costs
Unit: RMB
Increased amount Decrease
Beginning
Item Reverse or Ending balance
balance Withdrawal Others Others
write-off
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Raw materials 933,491,391.00 1,128,858,869.00 0.00 253,703,703.00 0.00 1,808,646,557.00
Work in progress 583,885,537.00 319,745,271.00 0.00 268,069,043.00 0.00 635,561,765.00
Finished goods 1,767,518,826.00 1,235,443,087.00 0.00 887,889,935.00 0.00 2,115,071,978.00
Consumables 0.00 23,838.00 0.00 23,838.00 0.00 0.00
Consumptive
0.00 0.00 0.00 0.00 0.00 0.00
living assets
Costs to fulfil a
contract with a 0.00 0.00 0.00 0.00 0.00 0.00
customer
Total 3,284,895,754.00 2,684,071,065.00 0.00 1,409,686,519.00 0.00 4,559,280,300.00
N/A
(3) Notes to the Ending Balance of Inventories Including Capitalized Borrowing Expense
N/A
(4) Amount of Contract Performance Costs Amortized in the Reporting Period
N/A
9. Contract Assets
Unit: RMB
Ending balance Beginning balance
Item Provision for Carrying Provision for Carrying
Book value Book value
impairment amounts impairment amounts
Contract assets 42,554,504.00 207,800.00 42,346,704.00 50,105,195.00 207,800.00 49,897,395.00
Total 42,554,504.00 207,800.00 42,346,704.00 50,105,195.00 207,800.00 49,897,395.00
The amount of significant changes in the carrying value of contract assets and reason during the Reporting Period:
Unit: RMB
Item Amount changed Reason
N/A
Total ——
Please refer to the relevant information of disclosure of bad debt provision of other contract assets if adopting the general mode of
expected credit loss to withdraw bad debt provision of notes receivable.
□ Applicable √ Not applicable
Additions, recoveries or reversals of provision for contract assets during the Reporting Period
Unit: RMB
Item Withdrawal of the current Reversal of the current Write-offs/Verification of Reason for change
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BOE Technology Group Co., Ltd. Interim Report 2021
period period the current period
N/A
Total ——
Other notes:
N/A
10. Held-for-sale Assets
Unit: RMB
Ending carrying Provision for Ending carrying Estimated Estimated
Item Fair value
balance impairment value disposal cost disposal time
N/A
Total ——
Other notes:
N/A
11. Other Current Assets
Unit: RMB
Item Ending balance Beginning balance
Contract acquisition cost of 0.00 0.00
Costs receivables for recovering products
69,857,582.00 131,986,424.00
from a customer
VAT on tax credits 5,391,537,246.00 6,447,432,350.00
Input tax to be verified or deducted 558,251,603.00 1,068,285,033.00
Wealth management products 0.00 2,611,572.00
Prepaid income taxes 15,945,090.00 23,710,045.00
Others 105,844,208.00 174,843,828.00
Total 6,141,435,729.00 7,848,869,252.00
Other notes: N/A
154
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12. Long-term Equity Investment
Unit: RMB
Increase/decrease
Profit and loss Declared
Adjustment of Impai Ending balance
Beginning balance on investments distribution of Ending balance
Investee Additional Reduced other Other equity rment for impairment
(carrying value) confirmed cash Others (carrying value)
investments investments comprehensive movements provi provisions
according to dividends or
income sions
equity law profits
I. Joint ventures
N/A
Sub-total
II. Associated enterprises
Beijing Nissin
Electronics
Precision 263,858.00 0.00 0.00 938,625.00 0.00 0.00 0.00 0.00 0.00 1,202,483.00 0.00
Component Co.,
Ltd.
Beijing Nittan
Electronic Co., 71,396,821.00 0.00 0.00 4,753,636.00 0.00 0.00 0.00 0.00 0.00 76,150,457.00 0.00
Ltd.
Beijing
Infi-Hailin
Venture 1,166,524.00 0.00 0.00 -830,360.00 0.00 0.00 0.00 0.00 0.00 336,164.00 0.00
Investment Co.,
Ltd.
155
BOE Technology Group Co., Ltd. Interim Report 2021
Erdos BOE
Energy
906,163,137.00 0.00 0.00 -332,005.00 0.00 0.00 0.00 0.00 0.00 905,831,132.00 777,858,312.00
Investment Co.,
Ltd.
Beijing Fly
Hailin
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Investment
Center (LLP)
TPV Display
Technology 24,828,264.00 0.00 0.00 2,014,621.00 0.00 0.00 0.00 0.00 0.00 26,842,885.00 0.00
(China) Limited
Beijing
XindongNeng
2,058,142,325.00 0.00 319,214,968.00 6,750,375.00 -66,822,001.00 0.00 -2,000,000.00 0.00 0.00 1,676,855,731.00 0.00
Investment Fund
(LLP)
Beijing
Xindongneng
Investment 7,921,626.00 0.00 0.00 1,852,544.00 0.00 0.00 0.00 0.00 0.00 9,774,170.00 0.00
Management
Co., Ltd.
Shenzhen
Yunyinggu 1,152,357.0
21,910,887.00 0.00 0.00 -3,337,280.00 -134,514.00 0.00 0.00 0.00 19,591,450.00 0.00
Technology Co., 0
Ltd.
Beijing Xloong
Technologies 19,766,940.00 0.00 0.00 123,032.00 0.00 773,082.00 0.00 0.00 0.00 20,663,054.00 0.00
Co., Ltd.
New on 2,400,038.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -27,091.00 2,372,947.00 0.00
156
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Technology Co.,
Ltd.
Cnoga Medical -2,638,849. 260,679,465.00 248,691,927.00
266,520,324.00 0.00 0.00 -3,202,010.00 0.00 0.00 0.00 0.00
Co., Ltd. 00
Hefei Xin Jing
Yuan Electronic
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Materials Co.,
Ltd.
Beijing
Zhonglianhe
Ultra HD
2,426,909.00 0.00 0.00 -402,819.00 0.00 0.00 0.00 0.00 0.00 2,024,090.00 0.00
Collaborative
Technology
Centre Co., Ltd.
Tianjin
Xianzhilian
Investment
991,163.00 0.00 0.00 8,041,801.00 0.00 0.00 0.00 0.00 0.00 9,032,964.00 0.00
Management
Center (Limited
Partnership)
Tianjin
Xianzhilian
-2,298,800.0
Investment 474,207,278.00 0.00 0.00 -15,160,073.00 0.00 0.00 0.00 0.00 456,748,405.00 0.00
0
Center (Limited
Partnership)
Beijing
Innovation 204,063,254.00 0.00 0.00 997,328.00 0.00 0.00 0.00 0.00 0.00 205,060,582.00 0.00
Industry
157
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Investment Co.,
Ltd.
Beijing Electric
Control Industry
200,283,114.00 0.00 0.00 809,487.00 2,642,278.00 0.00 0.00 0.00 0.00 203,734,879.00 0.00
Investment Co.,
Ltd.
BOE Houji
Technology
917,633.00 0.00 0.00 -454,073.00 0.00 0.00 0.00 0.00 0.00 463,560.00 0.00
(Beijing) Co.,
Ltd.
BioChain
(Beijing)
200,203,487.00 150,000,000.00 0.00 -1,897,578.00 0.00 0.00 0.00 0.00 0.00 348,305,909.00 0.00
Science &
Technology, Inc.
Shenzhen
Jiangcheng
5,011,461.00 0.00 4,851,265.00 -143,937.00 0.00 0.00 0.00 0.00 -16,259.00 0.00 0.00
Technology Co.,
Ltd.
Hunan BOE
Yiyun Science
253,630,000.00 0.00 0.00 1,368,215.00 0.00 0.00 0.00 0.00 0.00 254,998,215.00 0.00
& Technology
Co., Ltd.
Guoke BOE
(Shanghai)
Equity
0.00 2,571,400.00 0.00 -1,269,516.00 0.00 0.00 0.00 0.00 0.00 1,301,884.00 0.00
Investment
Management
Co., Ltd.
158
BOE Technology Group Co., Ltd. Interim Report 2021
-2,682,199. 4,481,970,426.00 1,026,550,239.0
Sub-total 4,722,215,043.00 152,571,400.00 324,066,233.00 620,013.00 -64,314,237.00 -373,361.00 -2,000,000.00 0.00
00 0
-2,682,199. 4,481,970,426.00 1,026,550,239.0
Total 4,722,215,043.00 152,571,400.00 324,066,233.00 620,013.00 -64,314,237.00 -373,361.00 -2,000,000.00 0.00
00 0
Other notes:
N/A
13. Other Equity Instrument Investment
Unit: RMB
Item Ending balance Beginning balance
Beijing Electronics Zone High-Tech Group Co., Ltd. 58,563,456.00 74,372,840.00
Zhejiang BOE Display Technology Co., Ltd. 321,256.00 321,256.00
Zhejiang Qiusheng Optoelectronics Technology Co., Ltd. 248,776.00 248,776.00
Beijing Digital TV National Engineering Laboratory Co., Ltd. 6,250,000.00 6,250,000.00
Qingdao Ultra HD Video Innovation Technology Co., Ltd. 500,000.00 0.00
Bank of Chongqing 108,382,711.00 102,845,668.00
New Century Medical Treatment 23,728,596.00 36,995,513.00
Beijing Horizon Robotics Technology Research and
32,285,480.00 0.00
Development Co., Ltd.
Danhua Capital,L.P. 32,300,500.00 32,624,500.00
Danhua Capital II,L.P. 64,601,000.00 65,249,007.00
Kateeva Inc. 77,165,895.00 77,939,931.00
ZGLUE INC. 0.00 0.00
Nanosys INC 48,450,750.00 48,936,750.00
159
BOE Technology Group Co., Ltd. Interim Report 2021
Ceribell INC 8,398,123.00 8,482,363.00
Baebies INC 28,383,657.00 28,668,368.00
KAIMAGING INC. 1,859,004.00 1,877,651.00
MOOV INC. 25,947,313.00 26,207,585.00
Illumina Fund I,L.P. 24,838,942.00 21,320,235.00
ACQIS Technology,Inc. 1,292,020.00 1,304,980.00
Total 543,517,479.00 533,645,423.00
Disclosure of Non-trading Equity Instrument Investment
Unit: RMB
Reason for
Amount transferred from
Reason for being designated at fair transferring from
Dividend income Accumulative other comprehensive
Item Accumulative gains value through other comprehensive other comprehensive
recognized losses income to retained
income income to retained
earnings
earnings
With the intention of establishing or
Beijing Electronics Zone High-Tech Group
1,924,620.00 24,318,059.00 0.00 0.00 maintaining a long-term investment for N/A
Co., Ltd.
strategic reasons
With the intention of establishing or
Zhejiang BOE Display Technology Co.,
0.00 0.00 0.00 0.00 maintaining a long-term investment for N/A
Ltd.
strategic reasons
With the intention of establishing or
Zhejiang Qiusheng Optoelectronics
1,629,959.00 3,040,266.00 0.00 0.00 maintaining a long-term investment for N/A
Technology Co., Ltd.
strategic reasons
With the intention of establishing or
Beijing Digital TV National Engineering
0.00 0.00 0.00 0.00 maintaining a long-term investment for N/A
Laboratory Co., Ltd.
strategic reasons
160
BOE Technology Group Co., Ltd. Interim Report 2021
With the intention of establishing or
Qingdao Ultra HD Video Innovation
0.00 0.00 0.00 0.00 maintaining a long-term investment for N/A
Technology Co., Ltd.
strategic reasons
With the intention of establishing or
Bank of Chongqing 9,378,620.00 49,765,507.00 0.00 0.00 maintaining a long-term investment for N/A
strategic reasons
With the intention of establishing or
New Century Medical Treatment 0.00 910,302.00 0.00 0.00 maintaining a long-term investment for N/A
strategic reasons
With the intention of establishing or
Beijing Horizon Robotics Technology
0.00 0.00 0.00 0.00 maintaining a long-term investment for N/A
Research and Development Co., Ltd.
strategic reasons
Danhua Capital,L.P. With the intention of establishing or
3,517,466.00 8,288,945.00 0.00 0.00 maintaining a long-term investment for N/A
strategic reasons
Danhua Capital II,L.P. With the intention of establishing or
0.00 13,800,800.00 0.00 0.00 maintaining a long-term investment for N/A
strategic reasons
Kateeva Inc. With the intention of establishing or
0.00 0.00 0.00 0.00 maintaining a long-term investment for N/A
strategic reasons
ZGLUE INC. With the intention of establishing or
0.00 0.00 0.00 0.00 maintaining a long-term investment for N/A
strategic reasons
Nanosys INC With the intention of establishing or
0.00 0.00 0.00 0.00 maintaining a long-term investment for N/A
strategic reasons
161
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Ceribell INC With the intention of establishing or
0.00 0.00 0.00 0.00 maintaining a long-term investment for N/A
strategic reasons
Baebies INC With the intention of establishing or
0.00 0.00 0.00 0.00 maintaining a long-term investment for N/A
strategic reasons
KAIMAGING INC. With the intention of establishing or
0.00 0.00 0.00 0.00 maintaining a long-term investment for N/A
strategic reasons
MOOV INC. With the intention of establishing or
0.00 0.00 0.00 0.00 maintaining a long-term investment for N/A
strategic reasons
Illumina Fund I,L.P. With the intention of establishing or
0.00 974,930.00 0.00 0.00 maintaining a long-term investment for N/A
strategic reasons
ACQIS Technology,Inc. With the intention of establishing or
0.00 0.00 0.00 0.00 maintaining a long-term investment for N/A
strategic reasons
Total 16,450,665.00 101,098,809.00 0.00 0.00 - -
Other notes:
N/A
162
BOE Technology Group Co., Ltd. Interim Report 2021
14. Other Non-current Financial Assets
Unit: RMB
Item Ending balance Beginning balance
Equity investment 606,895,447.00 0.00
Total 606,895,447.00 0.00
Other notes:
15. Investment Property
(1) Investment Property Adopted the Cost Measurement Mode
√ Applicable □ Not applicable
Unit: RMB
Houses and Construction in
Item Land use rights Total
buildings progress
I. Original carrying value
1. Beginning balance 1,016,178,842.00 687,434,677.00 0.00 1,703,613,519.00
2. Increased amount of the period 24,925,550.00 0.00 0.00 24,925,550.00
(1) Outsourcing 0.00 0.00 0.00 0.00
(2)Transfer from inventory/fixed
24,925,550.00 0.00 0.00 24,925,550.00
assets/construction in progress
(3) Business combination increase 0.00 0.00 0.00 0.00
3. Decreased amount of the period 0.00 0.00 0.00 0.00
(1) Disposal 0.00 0.00 0.00 0.00
(2) Other transfer 0.00 0.00 0.00 0.00
4. Ending balance 1,041,104,392.00 687,434,677.00 0.00 1,728,539,069.00
II. Accumulative depreciation and accumulative
amortization
1. Beginning balance 352,793,837.00 154,651,171.00 0.00 507,445,008.00
2. Increased amount of the period 15,241,271.00 6,784,373.00 0.00 22,025,644.00
(1)Withdrawal or amortization 15,241,271.00 6,784,373.00 0.00 22,025,644.00
3. Decreased amount of the period 0.00 0.00 0.00 0.00
(1) Disposal 0.00 0.00 0.00 0.00
(2) Other transfer 0.00 0.00 0.00 0.00
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BOE Technology Group Co., Ltd. Interim Report 2021
4. Ending balance 368,035,108.00 161,435,544.00 0.00 529,470,652.00
III. Depreciation reserves 0.00 0.00 0.00 0.00
1. Beginning balance 0.00 0.00 0.00 0.00
2. Increased amount of the period 0.00 0.00 0.00 0.00
(1) Withdrawal 0.00 0.00 0.00 0.00
3. Decreased amount of the period 0.00 0.00 0.00 0.00
(1) Disposal 0.00 0.00 0.00 0.00
(2) Other transfer 0.00 0.00 0.00 0.00
4. Ending balance 0.00 0.00 0.00 0.00
IV. Carrying value
1. Ending carrying value 673,069,284.00 525,999,133.00 0.00 1,199,068,417.00
2. Beginning carrying value 663,385,005.00 532,783,506.00 0.00 1,196,168,511.00
(2) Investment Property Adopted the Fair Value Measurement Mode
□ Applicable √ Not applicable
(3) Investment Property with Certificate of Title Uncompleted
Unit: RMB
Item Carrying amounts Reason
N/A
Other notes:
N/A
16. Fixed Assets
Unit: RMB
Item Ending balance Beginning balance
Fixed assets 224,483,239,199.00 224,770,354,605.00
Disposal of fixed assets 0.00 0.00
Total 224,483,239,199.00 224,770,354,605.00
(1) List of Fixed Assets
Unit: RMB
Item Plant & buildings Equipment Others Total
I. Original carrying value
164
BOE Technology Group Co., Ltd. Interim Report 2021
1. Beginning balance 62,366,734,483.00 260,069,085,898.00 6,938,507,880.00 329,374,328,261.00
2. Increased amount of the period 2,081,832,004.00 13,785,630,762.00 735,505,178.00 16,602,967,944.00
(1) Purchase 657,223.00 341,805,281.00 476,676,417.00 819,138,921.00
(2)Transfer from construction in
2,083,331,852.00 13,445,714,309.00 262,974,049.00 15,792,020,210.00
progress
(3) Business combination increase 0.00 0.00 0.00 0.00
(4) Differences arising from
translation of foreign
-2,157,071.00 -1,888,828.00 -4,145,288.00 -8,191,187.00
currency-denominated financial
statements
3. Decreased amount of the period 28,372,507.00 293,577,433.00 151,214,701.00 473,164,641.00
(1) Disposal or scrap 3,446,957.00 293,577,433.00 151,214,701.00 448,239,091.00
(2) Other decreased amount 24,925,550.00 0.00 0.00 24,925,550.00
4. Ending balance 64,420,193,980.00 273,561,139,227.00 7,522,798,357.00 345,504,131,564.00
II. Accumulative depreciation
1. Beginning balance 6,298,998,834.00 93,606,173,935.00 3,437,354,358.00 103,342,527,127.00
2. Increased amount of the period 820,936,797.00 14,786,695,271.00 684,923,054.00 16,292,555,122.00
(1) Withdrawal 822,056,424.00 14,791,742,161.00 686,005,455.00 16,299,804,040.00
(2) Differences arising from
translation of foreign
-1,119,627.00 -5,046,890.00 -1,082,401.00 -7,248,918.00
currency-denominated financial
statements
3. Decreased amount of the period 2,252,947.00 247,961,880.00 115,533,386.00 365,748,213.00
(1) Disposal or scrap 2,252,947.00 247,961,880.00 115,533,386.00 365,748,213.00
4. Ending balance 7,117,682,684.00 108,144,907,326.00 4,006,744,026.00 119,269,334,036.00
III. Depreciation reserves
1. Beginning balance 1,073,381.00 1,182,586,123.00 77,787,025.00 1,261,446,529.00
2. Increased amount of the period 0.00 437,361,555.00 80,555,861.00 517,917,416.00
(1) Withdrawal 0.00 437,361,555.00 80,555,861.00 517,917,416.00
3. Decreased amount of the period 0.00 26,502,427.00 1,303,189.00 27,805,616.00
(1) Disposal or scrap 0.00 26,502,427.00 1,303,189.00 27,805,616.00
4. Ending balance 1,073,381.00 1,593,445,251.00 157,039,697.00 1,751,558,329.00
IV. Carrying value
1. Ending carrying value 57,301,437,915.00 163,822,786,650.00 3,359,014,634.00 224,483,239,199.00
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BOE Technology Group Co., Ltd. Interim Report 2021
2. Beginning carrying value 56,066,662,268.00 165,280,325,840.00 3,423,366,497.00 224,770,354,605.00
(2) Temporarily Idle Fixed Assets
Unit: RMB
Accumulated Provision for
Item Book value Carrying amounts Notes
depreciation impairment
N/A
(3) Fixed Assets Leased out by Operating Lease
Unit: RMB
Item Ending carrying value
Fixed assets leased out by operating lease 140,349,330.00
(4) List of Fixed Assets with Certificate of Title Uncompleted
On 30 June 2021, the carrying value of fixed assets with certificate of title uncompleted totaled RMB14,375,816,239.00, and the
certificate of title was in process.
(5) Disposal of Fixed Assets
Unit: RMB
Item Ending balance Beginning balance
N/A
Total 0.00 0.00
Other notes: N/A
17. Construction in Progress
Unit: RMB
Item Ending balance Beginning balance
Construction in progress 42,790,191,160.00 42,575,849,952.00
Engineering materials 0.00 0.00
Total 42,790,191,160.00 42,575,849,952.00
166
BOE Technology Group Co., Ltd. Interim Report 2021
(1) List of Construction in Progress
Unit: RMB
Ending balance Beginning balance
Item Provision for Provision for
Book value Carrying amounts Book value Carrying amounts
impairment impairment
The 6th generation AMOLED (flexible) production
22,319,102,053.00 0.00 22,319,102,053.00 11,920,916,965.00 0.00 11,920,916,965.00
line-Chongqing
The 6th generation AMOLED project Mianyang 9,517,943,217.00 0.00 9,517,943,217.00 10,195,964,634.00 0.00 10,195,964,634.00
The 10.5th generation TFT-LCD project Wuhan 1,460,661,000.00 0.00 1,460,661,000.00 10,551,056,190.00 0.00 10,551,056,190.00
Others 9,575,522,404.00 83,037,514.00 9,492,484,890.00 9,907,912,163.00 0.00 9,907,912,163.00
Total 42,873,228,674.00 83,037,514.00 42,790,191,160.00 42,575,849,952.00 0.00 42,575,849,952.00
(2) Changes in Significant Construction in Progress during the Reporting Period
Unit: RMB
Proportion
of
Other Of which: Capitalizatio
accumulate
decreased Accumulated Amount of n rate of
d Job Sources
Beginning Increased Transfer in amount amount of capitalized interests for
Item Budget Ending balance investment schedul of
balance amount intangible assets during the interest interests for the
in e funding
Reporting capitalization the Reporting Reporting
constructio
Period Period Period
ns to
budget
The 6th Lending
46,500,000,000.0 11,920,916,965. 10,975,819,448. 22,319,102,054. 73,829,709.0
generation 577,634,359.00 0.00 49.67% 49.67% 75,072,417.00 0.15% by
0 00 00 00 0
AMOLED financial
167
BOE Technology Group Co., Ltd. Interim Report 2021
(flexible) institution
production s
line-Chongqi
ng
The 6th Lending
generation by
46,500,000,000.0 10,195,964,634. 1,505,580,771.0 9,517,943,217.0 1,295,761,491. 97,231,712.0
AMOLED 827,559,354.00 0.00 91.10% 91.10% 0.85% financial
0 00 0 0 00 0
project institution
Mianyang s
The 10.5th Lending
generation by
46,000,000,000.0 10,551,056,190. 1,034,255,128.0 10,124,513,227. 137,091.0 1,460,661,000.0 25,169,417.0
TFT-LCD 79.63% 79.63% 1,063,424.00 3.23% financial
0 00 0 00 0 0 0
project institution
Wuhan s
139,000,000,000. 32,667,937,789. 12,837,633,930. 12,207,728,357. 137,091.0 33,297,706,271. 1,371,897,332. 196,230,838.
Total -- -- --
00 00 00 00 0 00 00 00
(3) Provisions for Impairment of Construction in Progress during the Reporting Period
Unit: RMB
Item Withdrawal amount Reason for withdrawal
KE8 whole machine
Since the project failed to meet the preset technical specifications and could not be transferred to fixed assets, impairment
automatic production line 38,543,690.00
provisions were withdrawn.
value project
The intelligent
manufacturing project of the Since the project was disused and could not further be transferred to fixed assets subsequently, impairment provisions were
44,493,824.00
mobile display system of withdrawn.
BOE Optical Science and
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Technology industrial park
Total 83,037,514.00 --
Other notes:
N/A
(4) Engineering Materials
Unit: RMB
Ending balance Beginning balance
Item
Book value Provision for impairment Carrying amounts Book value Provision for impairment Carrying amounts
N/A
Total
Other notes:
N/A
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BOE Technology Group Co., Ltd. Interim Report 2021
18. Right-of-Use Assets
Unit: RMB
Item Houses and buildings Equipment Others Total
I. Original carrying value
1. Beginning balance 376,911,028.00 107,357,735.00 158,144,293.00 642,413,056.00
2. Increased amount of
29,495,706.00 0.00 -8,736.00 29,486,970.00
the period
(1) Addition 29,914,218.00 0.00 0.00 29,914,218.00
(2) Exchange rate change -418,512.00 0.00 -8,736.00 -427,248.00
3. Decreased amount
1,055,744.00 0.00 246,739.00 1,302,483.00
of the period
4. Ending balance 405,350,990.00 107,357,735.00 157,888,818.00 670,597,543.00
II. Accumulative
depreciation
1. Beginning balance 4,864,383.00 17,553,554.00 0.00 22,417,937.00
2. Increased amount of
44,463,048.00 1,573,196.00 3,961,334.00 49,997,578.00
the period
(1) Withdrawal 44,501,727.00 1,573,196.00 3,964,396.00 50,039,319.00
(2) Exchange rate
-38,679.00 0.00 -3,062.00 -41,741.00
change
3. Decreased amount
1,055,744.00 0.00 0.00 1,055,744.00
of the period
(1) Disposal 1,055,744.00 0.00 0.00 1,055,744.00
4. Ending balance 48,271,687.00 19,126,750.00 3,961,334.00 71,359,771.00
III. Depreciation reserves
1. Beginning balance 0.00 0.00 0.00 0.00
2. Increased amount of
0.00 0.00 0.00 0.00
the period
(1) Withdrawal 0.00 0.00 0.00 0.00
3. Decreased amount
0.00 0.00 0.00 0.00
of the period
(1) Disposal 0.00 0.00 0.00 0.00
4. Ending balance 0.00 0.00 0.00 0.00
IV. Carrying value
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1. Ending carrying
357,079,303.00 88,230,985.00 153,927,484.00 599,237,772.00
value
2. Beginning carrying
372,046,645.00 89,804,181.00 158,144,293.00 619,995,119.00
value
Other notes:
N/A
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19. Intangible Assets
(1) List of Intangible Assets
Unit: RMB
Non-patent Patent and proprietary
Item Land use rights Patent Computer software Others Total
technology technology
I. Original carrying value
1. Beginning balance 5,252,723,967.00 0.00 0.00 6,942,969,070.00 1,538,996,080.00 1,551,008,011.00 15,285,697,128.00
2. Increased amount of the
426,818.00 0.00 0.00 -5,254,147.00 19,048,488.00 -346,680.00 13,874,479.00
period
(1) Purchase 0.00 0.00 0.00 0.00 8,063,177.00 0.00 8,063,177.00
(2) Internal R&D 0.00 0.00 0.00 0.00 0.00 0.00 0.00
(3) Business combination
0.00 0.00 0.00 23,036,292.00 0.00 0.00 23,036,292.00
increase
(4) Transfer from
426,818.00 0.00 0.00 0.00 10,997,079.00 0.00 11,423,897.00
construction in progress
(5) Exchange rate change 0.00 0.00 0.00 -28,290,439.00 -11,768.00 -346,680.00 -28,648,887.00
3. Decreased amount of the
0.00 0.00 0.00 0.00 2,599,497.00 0.00 2,599,497.00
period
(1) Disposal 0.00 0.00 0.00 0.00 2,599,497.00 0.00 2,599,497.00
4. Ending balance 5,253,150,785.00 0.00 0.00 6,937,714,923.00 1,555,445,071.00 1,550,661,331.00 15,296,972,110.00
II. Accumulated amortization
1. Beginning balance 398,056,104.00 0.00 0.00 1,950,769,869.00 808,673,901.00 252,270,806.00 3,409,770,680.00
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2. Increased amount of the 63,135,102.00
0.00 0.00 325,233,720.00 104,996,983.00 45,413,433.00 538,779,238.00
period
(1) Withdrawal 63,135,102.00 0.00 0.00 325,233,720.00 104,996,983.00 45,413,433.00 538,779,238.00
3. Decreased amount of the
0.00 0.00 0.00 0.00 2,536,698.00 0.00 2,536,698.00
period
(1) Disposal 0.00 0.00 0.00 0.00 2,536,698.00 0.00 2,536,698.00
4. Ending balance 461,191,206.00 0.00 0.00 2,276,003,589.00 911,134,186.00 297,684,239.00 3,946,013,220.00
III. Depreciation reserves
1. Beginning balance 0.00 0.00 0.00 0.00 0.00 0.00 0.00
2. Increased amount of the
0.00 0.00 0.00 0.00 0.00 0.00 0.00
period
(1) Withdrawal 0.00 0.00 0.00 0.00 0.00 0.00 0.00
3. Decreased amount of the
0.00 0.00 0.00 0.00 0.00 0.00 0.00
period
(1) Disposal 0.00 0.00 0.00 0.00 0.00 0.00 0.00
4. Ending balance 0.00 0.00 0.00 0.00 0.00 0.00 0.00
IV. Carrying value
1. Ending carrying value 4,791,959,579.00 0.00 0.00 4,661,711,334.00 644,310,885.00 1,252,977,092.00 11,350,958,890.00
2. Beginning carrying value 4,854,667,863.00 0.00 0.00 4,992,199,201.00 730,322,179.00 1,298,737,205.00 11,875,926,448.00
The proportion of intangible assets generated from the internal R&D of the Company to the balance of intangible assets at the period-end: 0.00%.
(2) Land Use Right with Certificate of Title Uncompleted
As at 30 June 2021, the carrying value of land use right with certificate of title uncompleted totaled RMB4,380,868,454.00.
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20. Goodwill
(1) Original Carrying Value of Goodwill
Unit: RMB
Increase Decrease
Name of the invested units or
Beginning balance Formed by business Ending balance
events generating goodwill Disposals
combination
0.00
Beijing Yinghe Century Co., Ltd. 42,940,434.00 0.00 42,940,434.00
Suzhou K-Tronics Co., Ltd. 8,562,464.00 0.00 0.00 8,562,464.00
Beijing BOE Optoelectronics
4,423,876.00 0.00 0.00 4,423,876.00
Technology Co., Ltd.
BOE Healthcare Investment &
146,460,790.00 0.00 0.00 146,460,790.00
Management Co., Ltd.
SES Imagotag SA Co.Ltd. 706,406,821.00 0.00 0.00 706,406,821.00
Nanjing BOE Display Technology
155,714,415.00 0.00 0.00 155,714,415.00
Co., Ltd.
Chengdu CEC Panda Display
537,038,971.00 0.00 0.00 537,038,971.00
Technology Co., Ltd.
Total 1,601,547,771.00 0.00 0.00 1,601,547,771.00
(2) Provisions for Impairment of Goodwill
Unit: RMB
Name of the invested units or Increase Decrease
Beginning balance Ending balance
events generating goodwill Withdrawal Disposals
Beijing BOE Optoelectronics
4,423,876.00 0.00 0.00 0.00 0.00 4,423,876.00
Technology Co., Ltd.
SES Imagotag SA Co.Ltd. 196,766,653.00 0.00 0.00 0.00 0.00 196,766,653.00
Total 201,190,529.00 0.00 0.00 0.00 0.00 201,190,529.00
Information of assets group or the combination of assets group where goodwill is
N/A
Notes of the testing process of goodwill impairment, key parameters(growth rate of predictive period in estimating he present value
of future cash flow, grow rate of stable period, profit rate, discount rate, predictive period, etc.) and the recognition method of
goodwill impairment losses:
N/A
The influence of testing goodwill
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N/A
Other notes:
N/A
21. Long-term Prepaid Expense
Unit: RMB
Amortization
Other decreased
Item Beginning balance Increased amount amount of the Ending balance
amount
period
Payment for public facilities
67,332,342.00 0.00 10,729,088.00 0.00 56,603,254.00
construction and use
Cost of operating lease assets
14,172,826.00 6,411,920.00 5,850,901.00 0.00 14,733,845.00
improvement
Others 204,148,317.00 393,852,411.00 56,721,206.00 88,684.00 541,190,838.00
Total 285,653,485.00 400,264,331.00 73,301,195.00 88,684.00 612,527,937.00
Other notes:
N/A
22. Deferred Income Tax Assets/Deferred Income Tax Liabilities
(1) Deferred Income Tax Assets Had Not Been Off-set
Unit: RMB
Ending balance Beginning balance
Item Deductible temporary Deductible temporary
Deferred tax assets Deferred tax assets
differences differences
Provision for impairment of assets 118,092,267.00 26,150,984.00 122,139,756.00 27,180,254.00
Internal unrealized profit 0.00 0.00 0.00 0.00
Deductible tax losses 51,875,506.00 8,564,931.00 424,212,759.00 132,565,377.00
Changes in fair value of
investments in other equity 137,598,574.00 20,639,786.00 121,789,193.00 18,268,379.00
instruments
Depreciation of fixed assets 178,676,182.00 30,059,805.00 179,801,722.00 30,341,276.00
Assessed value added by
investing real estate in 128,226,195.00 32,056,549.00 131,003,100.00 32,750,775.00
subsidiaries
Others 37,830,926.00 5,693,724.00 64,633,800.00 14,628,946.00
Total 652,299,650.00 123,165,779.00 1,043,580,330.00 255,735,007.00
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(2) Deferred Income Tax Liabilities Had Not Been Off-set
Unit: RMB
Ending balance Beginning balance
Item Taxable temporary Deferred tax Taxable temporary Deferred tax
difference liabilities difference liabilities
Revaluation due to business
combinations involving entities not 2,321,077,229.00 685,236,839.00 2,395,173,489.00 713,559,149.00
under common control
Changes in fair value of investment in
0.00 0.00 0.00 0.00
other debt obligations
Changes in fair value of investments in
0.00 0.00 0.00 0.00
other equity instruments
Depreciation of fixed assets 5,749,659,365.00 889,439,806.00 4,622,699,062.00 721,371,438.00
Long-term equity investments 120,141,687.00 18,021,253.00 120,141,687.00 18,021,253.00
Others 147,213,571.00 27,047,160.00 142,029,410.00 25,343,233.00
Total 8,338,091,852.00 1,619,745,058.00 7,280,043,648.00 1,478,295,073.00
(3) Deferred Income Tax Assets or Liabilities Listed by Net Amount after Off-set
Unit: RMB
Mutual set-off amount of Ending balance of Mutual set-off amount of Beginning balance of
deferred income tax deferred income tax deferred income tax deferred income tax
Item
assets and liabilities at assets or liabilities after assets and liabilities at assets or liabilities after
the period-end off-set the period-begin off-set
Deferred tax assets 53,065,326.00 70,100,453.00 50,693,919.00 205,041,088.00
Deferred tax liabilities 53,065,326.00 1,566,679,732.00 50,693,919.00 1,427,601,154.00
(4) List of Unrecognized Deferred Income Tax Assets
Unit: RMB
Item Ending balance Beginning balance
Deductible temporary differences 16,433,674,565.00 16,442,282,572.00
Deductible tax losses 20,915,582,781.00 25,680,094,343.00
Total 37,349,257,346.00 42,122,376,915.00
(5) Deductible Losses of Unrecognized Deferred Income Tax Assets will Due in the Following Years
Unit: RMB
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Year Ending amount Beginning amount Notes
2021 102,645,613.00 78,927,101.00 N/A
2022 98,246,826.00 416,996,721.00 N/A
2023 135,362,224.00 518,668,889.00 N/A
2024 360,856,618.00 1,129,623,213.00 N/A
2025 1,906,800,069.00 2,987,078,958.00 N/A
2026 1,392,445,769.00 848,779,232.00 N/A
2027 32,297,550.00 128,972,134.00 N/A
2028 2,696,282,356.00 5,149,658,963.00 N/A
2029 7,681,944,414.00 10,575,127,795.00 N/A
2030 3,342,865,531.00 2,846,283,820.00 N/A
2031 2,741,166,985.00 0.00 N/A
Others 424,668,826.00 999,977,517.00 N/A
Total 20,915,582,781.00 25,680,094,343.00 --
Other notes:
N/A
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23. Other Non-current Assets
Unit: RMB
Ending balance Beginning balance
Item Provision for Provision for
Book value Carrying amounts Book value Carrying amounts
impairment impairment
Contract acquisition cost of 0.00 0.00 0.00 0.00 0.00 0.00
Costs to fulfil a contract with a customer 14,415,767.00 0.00 14,415,767.00 0.00 0.00 0.00
Costs receivables for recovering products from a
0.00 0.00 0.00 0.00 0.00 0.00
customer
Contract assets 0.00 0.00 0.00 0.00 0.00 0.00
Deferred VAT for imported equipment 1,644,509,638.00 0.00 1,644,509,638.00 2,444,720,228.00 0.00 2,444,720,228.00
Prepayment for fixed assets 580,885,477.00 0.00 580,885,477.00 1,476,495,591.00 0.00 1,476,495,591.00
VAT on tax credits 3,301,993,510.00 0.00 3,301,993,510.00 3,720,414,204.00 0.00 3,720,414,204.00
Prepayments for construction 147,880,815.00 0.00 147,880,815.00 130,568,100.00 0.00 130,568,100.00
Gains from transfer of exploration right 512,802,600.00 0.00 512,802,600.00 512,802,600.00 0.00 512,802,600.00
Others 329,993,548.00 0.00 329,993,548.00 339,969,296.00 0.00 339,969,296.00
Total 6,532,481,355.00 0.00 6,532,481,355.00 8,624,970,019.00 0.00 8,624,970,019.00
Other notes:
N/A
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24. Short-term Borrowings
(1) Category of Short-term Borrowings
Unit: RMB
Item Ending balance Beginning balance
Pledge loan 0.00 0.00
Mortgage loan 0.00 600,623,333.00
Guaranteed loan 3,350,216,061.00 4,117,356,012.00
Credit loan 2,543,671,321.00 3,881,590,126.00
Total 5,893,887,382.00 8,599,569,471.00
Notes of category of short-term borrowings:
N/A
(2) Overdue and Outstanding Short-term Borrowings
The total overdue and outstanding short-term borrowings was RMB0.00, of which, the significant ones were listed as follows:
Unit: RMB
Borrower Ending balance Loan interest rate Overdue time Overdue charge rate
N/A
Total —— —— ——
Other notes: N/A
25. Notes Payable
Unit: RMB
Item Ending balance Beginning balance
Commercial acceptance bills 68,323,122.00 100,709,756.00
Bank acceptance bills 317,588,359.00 1,130,824,139.00
Total 385,911,481.00 1,231,533,895.00
The total overdue and outstanding notes payable at the period-end were RMB0.00.
26. Accounts Payable
(1) List of Accounts Payable
Unit: RMB
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Item Ending balance Beginning balance
Payables to related parties 151,422,772.00 108,759,439.00
Payables to third parties 34,369,698,871.00 27,055,412,243.00
Total 34,521,121,643.00 27,164,171,682.00
(2) Significant Accounts Payable Aging over One Year
Unit: RMB
Item Ending balance Unpaid/Un-carry-over reason
N/A
Total
Other notes: N/A
27. Advances from Customers
(1) List of Advances from Customers
Unit: RMB
Item Ending balance Beginning balance
Advances from third parties 208,523,536.00 118,022,230.00
Advances from related parties 6,118,783.00 6,018,519.00
Total 214,642,319.00 124,040,749.00
(2) Significant Advances from Customers Aging over One Year
The Group has no significant advances from customers aging over one year.
28. Contract Liabilities
Unit: RMB
Item Ending balance Beginning balance
Sale of goods 3,513,356,959.00 3,440,720,535.00
Total 3,513,356,959.00 3,440,720,535.00
The amount of significant changes of carrying value and reason during the Reporting Period:
Unit: RMB
Item Amount changed Reason
N/A
Total ——
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BOE Technology Group Co., Ltd. Interim Report 2021
29. Payroll Payable
(1) List of Payroll Payable
Unit: RMB
Item Beginning balance Increase Decrease Ending balance
I. Short-term salary 3,733,572,462.00 9,675,025,642.00 8,845,210,317.00 4,563,387,787.00
II. Post-employment benefit-defined
21,628,033.00 526,398,888.00 510,262,925.00 37,763,996.00
contribution plans
III. Termination benefits 3,423,302.00 8,434,288.00 8,658,514.00 3,199,076.00
IV. Other benefits due within one year 0.00 0.00 0.00 0.00
Total 3,758,623,797.00 10,209,858,818.00 9,364,131,756.00 4,604,350,859.00
(2) List of Short-term Salary
Unit: RMB
Item Beginning balance Increase Decrease Ending balance
Salary, bonus, allowance, 3,184,794,255.00 8,379,666,501.00 7,659,990,032.00 3,904,470,724.00
subsidy
2. Employee welfare 0.00 456,768,648.00 456,768,648.00 0.00
3. Social insurance 32,667,412.00 281,126,245.00 290,166,830.00 23,626,827.00
Of which: Medical 29,551,408.00 259,055,632.00 269,095,766.00 19,511,274.00
insurance premiums
Work-related injury 1,614,132.00 14,296,627.00 13,373,489.00 2,537,270.00
insurance
Maternity insurance 1,501,872.00 7,773,986.00 7,697,575.00 1,578,283.00
4. Housing fund 27,141,059.00 318,883,662.00 319,832,304.00 26,192,417.00
5.Labor union budget and 467,724,919.00 201,834,787.00 86,536,051.00 583,023,655.00
employee education budget
6. Short-term compensated 0.00 0.00 0.00 0.00
absence
7. Short-term profit-sharing plan 0.00 0.00 0.00 0.00
8. Other short-term salary 21,244,817.00 36,745,799.00 31,916,452.00 26,074,164.00
Total 3,733,572,462.00 9,675,025,642.00 8,845,210,317.00 4,563,387,787.00
(3) List of Defined Contribution Plans
Unit: RMB
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BOE Technology Group Co., Ltd. Interim Report 2021
Item Beginning balance Increase Decrease Ending balance
1. Basic pension benefits 19,052,829.00 481,744,470.00 466,253,709.00 34,543,590.00
2. Unemployment 1,110,934.00 23,371,636.00 23,159,290.00 1,323,280.00
insurance
3. Annuity 1,464,270.00 21,282,782.00 20,849,926.00 1,897,126.00
Total 21,628,033.00 526,398,888.00 510,262,925.00 37,763,996.00
Other notes:
30. Taxes Payable
Unit: RMB
Item Ending balance Beginning balance
Value-added tax 53,212,058.00 40,678,414.00
Consumption tax 0.00 0.00
Corporate income tax 1,147,438,959.00 442,103,385.00
Individual income tax 38,415,905.00 60,823,097.00
City maintenance and construction tax 357,585,703.00 239,633,339.00
Education surcharges and local education
256,009,273.00 171,225,887.00
surcharges
Others 152,049,469.00 123,222,747.00
Total 2,004,711,367.00 1,077,686,869.00
Other notes:
N/A
31. Other Payables
Unit: RMB
Item Ending balance Beginning balance
Interest payable 722,695.00 1,946,267.00
Dividends payable 20,495,428.00 6,451,171.00
Other payables 28,112,257,684.00 32,859,311,586.00
Total 28,133,475,807.00 32,867,709,024.00
(1) Interest Payable
Unit: RMB
Item Ending balance Beginning balance
Long-term loan interest of installment 0.00 0.00
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BOE Technology Group Co., Ltd. Interim Report 2021
payment of interest and repay the due
capital
Enterprise bond interest 0.00 0.00
Interest paid for short-term borrowings 722,695.00 1,946,267.00
Interest of preferred shares/perpetual bonds
0.00 0.00
classified as financial liabilities
Others 0.00 0.00
Total 722,695.00 1,946,267.00
Significant overdue and outstanding interests:
Unit: RMB
Borrower Overdue amount Reason
N/A
Total ——
Other notes: N/A
(2) Dividends Payable
Unit: RMB
Item Ending balance Beginning balance
Ordinary share dividends 20,495,428.00 6,451,171.00
Dividends of preferred shares/perpetual
0.00 0.00
bonds classified as equity instruments
Total 20,495,428.00 6,451,171.00
Other notes, including the reason for unpayment of significant dividends payable unpaid for over one year: None
(3) Other Accounts Payable
1) Other Accounts Payable Listed by Nature of Account
Unit: RMB
Item Ending balance Beginning balance
Projects and equipment 18,495,740,129.00 22,081,009,426.00
Fund transaction 3,050,406,568.00 3,044,729,475.00
Equity acquisition fee 2,236,488,561.00 2,236,488,561.00
Deferred VAT for imported equipment 1,118,961,930.00 1,920,558,529.00
Repurchase obligation of restricted shares 875,333,536.00 875,333,536.00
Pre-withdrawal water and electricity & 605,251,407.00 711,995,694.00
logistics freight
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Margin 550,703,857.00 576,740,323.00
External agency fee 35,443,063.00 95,378,987.00
Others 1,143,928,633.00 1,317,077,055.00
Total 28,112,257,684.00 32,859,311,586.00
2) Significant Other Accounts Payable Aging over One Year
Unit: RMB
Item Ending balance Unpaid/Un-carry-over reason
N/A
Total
Other notes: N/A
32. Non-current Liabilities Due within One Year
Unit: RMB
Item Ending balance Beginning balance
Long-term loans due within 1 year 20,190,928,616.00 23,521,529,001.00
Bonds payable due within 1 year 0.00 0.00
Long-term accounts payable due within 1
863,469,148.00 970,462,538.00
year
Lease liabilities due within 1 year 30,465,023.00 46,428,628.00
Total 21,084,862,787.00 24,538,420,167.00
Other notes:
The interest rate of RMB long-term loans due within one year for the Group ranged from 0% to 5.88% in 2021 (2020: from 0% to
5.88%).
33. Other Current Liabilities
Unit: RMB
Item Ending balance Beginning balance
Short-term bonds payable 0.00 0.00
Refund liability 103,173,583.00 144,834,876.00
Warranty provisions 2,425,781,641.00 1,615,534,790.00
Pending output VAT 278,214,253.00 278,791,002.00
Others 88,432,153.00 155,556,184.00
Total 2,895,601,630.00 2,194,716,852.00
Increase or decrease in short-term bonds payable:
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BOE Technology Group Co., Ltd. Interim Report 2021
Unit: RMB
Repaym
Issued in Amortization
ent
Debentur Face Issuance Maturity Issuance Beginnin the Interest at of premium Ending
during
e value date period amount g balance Current face value and balance
the
Period depreciation
period
N/A
Total —— —— ——
Other notes:
N/A
34. Long-term Borrowings
(1) Category of Long-term Borrowings
Unit: RMB
Item Ending balance Beginning balance
Pledge loan 604,337,067.00 1,013,068,498.00
Mortgage loan 84,238,939,663.00 86,808,171,431.00
Guaranteed loan 3,461,547,083.00 3,243,676,147.00
Credit loan 43,921,434,796.00 41,387,851,059.00
Total 132,226,258,609.00 132,452,767,135.00
Notes of the category of long-term borrowings:
N/A
Other notes, including the interest rate range:
The interest rate of RMB long-term loans for the Group ranged from 0% to 5.90% in 2021 (2020: from 0% to 5.90%).
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35. Bonds Payable
(1) Bonds Payable
Unit: RMB
Item Ending balance Beginning balance
EuroPP 389,542,003.00 398,971,739.00
Total 389,542,003.00 398,971,739.00
(2) Increase/Decrease of Bonds Payable (Excluding Other Financial Instruments Classified as Financial Liabilities such as Preferred Shares and Perpetual
Bonds)
Unit: RMB
Translation
differences
Amortization arising from
Repayment
Maturity Issuance Beginning Issued in the Interest at face of premium translation of
Debenture Face value Issuance date during the Ending balance
period amount balance Current Period value and foreign
period
depreciation currency
financial
statements
EuroPP 78,473,000.00 2016.12.29 7 years 78,473,000.00 79,866,803.00 0.00 1,356,870.00 55,253.00 0.00 -3,395,593.00 77,883,333.00
EuroPP 235,419,000.00 2017.03.29 6 years 235,419,000.00 239,802,540.00 0.00 4,070,611.00 204,087.00 0.00 -10,195,958.00 233,881,280.00
EuroPP 75,977,975.00 2019.07.22 6 years 75,977,975.00 79,302,396.00 0.00 1,763,931.00 90,270.00 0.00 -3,379,207.00 77,777,390.00
Total -- -- -- 389,869,975.00 398,971,739.00 0.00 7,191,412.00 349,610.00 0.00 -16,970,758.00 389,542,003.00
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(3) Explanations on Share Transfer Conditions and Time for Convertible Corporate Bonds
N/A
(4) Other Financial Instruments Classified as Financial Liabilities
Basic situation of other financial instruments outstanding at the period-end such preferred shares and perpetual bonds
N/A
Changes in financial instruments outstanding at the period-end such preferred shares and perpetual liabilities
Unit: RMB
Outstanding Period-beginning Increase Decrease Period-end
financial
Quantity Carrying amounts Quantity Carrying amounts Quantity Carrying amounts Quantity Carrying amounts
instruments
N/A
Total
Notes to the basis of classifying other financial instruments as financial liabilities
N/A
Other notes: N/A
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36. Lease Liabilities
Unit: RMB
Item Ending balance Beginning balance
Lease liabilities 547,150,126.00 565,344,418.00
Total 547,150,126.00 565,344,418.00
Other notes:
N/A
37. Long-term Accounts Payable
Unit: RMB
Item Ending balance Beginning balance
Long-term payables 1,414,366,149.00 2,012,337,567.00
Specific payables 0.00 0.00
Total 1,414,366,149.00 2,012,337,567.00
(1) Long-term Accounts Payable Listed by Nature of Account
Unit: RMB
Item Ending balance Beginning balance
Long-term payables 1,414,366,149.00 2,012,337,567.00
Other notes: N/A
(2) Specific Payable
Unit: RMB
Item Beginning balance Increase Decrease Ending balance Formed reason
N/A
Total 0.00 0.00 --
Other notes:
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38. Deferred Income
Unit: RMB
Item Beginning balance Increase Decrease Ending balance Formed reason
Government grants 4,246,231,468.00 2,751,511,028.00 1,189,438,964.00 5,808,303,532.00 Government grants
Total 4,246,231,468.00 2,751,511,028.00 1,189,438,964.00 5,808,303,532.00 --
Item involving government grants:
Unit: RMB
Amount recorded
Amount recorded Amount offset cost Related to
Amount of newly into non-operating
Item Beginning balance into other income in in the Reporting Other changes Ending balance assets/related to
subsidy income in the
Reporting Period Period income
Reporting Period
related to assets 2,846,739,619.00 941,378,294.00 0.00 171,893,814.00 0.00 70,329,500.00 3,545,894,599.00 related to assets
related to income 1,399,491,849.00 1,810,132,734.00 0.00 656,915,650.00 0.00 290,300,000.00 2,262,408,933.00 related to income
Total 4,246,231,468.00 2,751,511,028.00 0.00 828,809,464.00 0.00 360,629,500.00 5,808,303,532.00 ——
Other notes: N/A
39. Other Non-current Liabilities
Unit: RMB
Item Ending balance Beginning balance
Contract liabilities 0.00 0.00
Contribution of non-controlling interests with redemption
3,567,199,214.00 3,710,474,960.00
provisions
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Deferred VAT for imported equipment 750,509,638.00 1,472,958,998.00
Others 59,280,195.00 76,567,485.00
Total 4,376,989,047.00 5,260,001,443.00
Other notes:
N/A
40. Share Capital
Unit: RMB
Increase/decrease (+/-)
Item Beginning balance Bonus issue from Ending balance
New issues Bonus shares Others Sub-total
profit
Total shares 34,798,398,763.00 0.00 0.00 0.00 0.00 0.00 34,798,398,763.00
Other notes: N/A
41. Other Equity Instrument
(1) The Basic Information of Other Financial Instruments such as Preferred Stock and Perpetual Bond Outstanding at the End of the Period
Outstanding Issuance date Accounting Interest rate Issuance price Quantity Amount Maturity date or Conditions for Conversion status
financial classification renewal status conversion
instruments
19BOEY1 29 October 2019 Equity instrument 4.0% RMB 100/bond 80 million RMB 8 billion 3+N years Not applicable Not applicable
20BOEY1 28 February 2020 Equity instrument 3.64% RMB 100/bond 20 million RMB 2 billion 3+N years Not applicable Not applicable
20BOEY2 19 March 2020 Equity instrument 3.54% RMB 100/bond 20 million RMB 2 billion 3+N years Not applicable Not applicable
20BOEY3 27/4/2020 Equity instrument 3.50% RMB 100/bond 20 million RMB 2 billion 3+N years Not applicable Not applicable
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(2) Changes in Financial Instruments such as Preferred Stock and Perpetual Bond Outstanding at the End of the Period
Unit: RMB
Outstanding Period-beginning Increase Decrease Period-end
financial
Quantity Carrying amounts Quantity Carrying amounts Quantity Carrying amounts Quantity Carrying amounts
instruments
19BOEY1-original
80,000,000 7,957,047,264.00 0 0.00 0 0.00 80,000,000 7,957,047,264.00
value
20BOEY1original
20,000,000 1,989,179,245.00 0 0.00 0 0.00 20,000,000 1,989,179,245.00
value
20BOEY2original
20,000,000 1,989,320,755.00 0 0.00 0 0.00 20,000,000 1,989,320,755.00
value
20BOEY3original
20,000,000 1,989,415,094.00 0 0.00 0 0.00 20,000,000 1,989,415,094.00
value
19BOEY1-interest 0 56,986,301.00 0 158,684,932.00 0 0.00 0 215,671,233.00
20BOEY1-interest 0 61,431,233.00 0 36,100,822.00 0 72,800,000.00 0 24,732,055.00
20BOEY2-interest 0 55,864,110.00 0 35,109,041.00 0 70,800,000.00 0 20,173,151.00
20BOEY3-interest 0 47,753,425.00 0 34,712,328.00 0 70,000,000.00 0 12,465,753.00
Total 140,000,000 14,146,997,427.00 0 264,607,123.00 0 213,600,000.00 140,000,000 14,198,004,550.00
Changes in other equity instruments for the Current Period, explanation on reasons for the changes and basis for related accounting treatment:
On 30 June 2021, as the issued renewable corporate bonds aforementioned are classified as cumulative other equity instruments, the Company accrued interest of RMB264,607,123.00on
renewable corporate bonds from undistributed profits and paid interest of RMB213,600,000.00.
Other notes:
N/A
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42. Capital Reserves
Unit: RMB
Item Beginning balance Increase Decrease Ending balance
Capital premium (premium on stock) 37,546,517,053.00 2,851,741.00 0.00 37,549,368,794.00
Other capital reserves -110,861,119.00 653,190,440.00 1,029,805,509.00 -487,476,188.00
Total 37,435,655,934.00 656,042,181.00 1,029,805,509.00 37,061,892,606.00
Other notes, including notes to increase and decrease during the Reporting Period and the reasons for changes:
N/A
43. Treasury shares
Unit: RMB
Item Beginning balance Increase Decrease Ending balance
Repurchase of public shares 1,036,298,508.00 0.00 0.00 1,036,298,508.00
Total 1,036,298,508.00 0.00 0.00 1,036,298,508.00
Other notes, including notes to increase and decrease during the Reporting Period and the reasons for changes:
N/A
44. Other Comprehensive Income
Unit: RMB
Reporting Period
Less: Less: Net-of-tax
Beginning Net-of-tax amount
Item Income before taxation in Recorded in Recorded in Less: Income amount Ending balance
balance attributable to shareholders
the Current Period other other tax expense attributable to
of the Company
comprehensive comprehensive non-controlling
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income in income in interests
prior period prior period
and transferred and transferred
in profit or in retained
loss in the earnings in the
Current Current
Period Period
I. Other comprehensive income that
61,411,897.00 -128,094,497.00 0.00 0.00 -2,371,408.00 -125,723,089.00 0.00 -64,311,192.00
will not be reclassified to profit or loss
Of which: Changes caused by
re-measurements on defined benefit 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
pension schemes
Other comprehensive income
that will not be reclassified to profit or 194,002,494.00 -105,928,126.00 0.00 0.00 0.00 -105,928,126.00 0.00 88,074,368.00
loss under equity method
Changes in fair value of
investments in other equity -132,590,597.00 -22,166,371.00 0.00 0.00 -2,371,408.00 -19,794,963.00 0.00 -152,385,560.00
instruments
Changes in fair value of
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
enterprise credit risk
II. Other comprehensive income that
-83,609,969.00 37,982,753.00 0.00 0.00 0.00 55,687,224.00 -17,704,471.00 -27,922,745.00
may be reclassified to profit or loss
Of which: Other comprehensive
income that will be reclassified to 11,835.00 0.00 0.00 0.00 0.00 0.00 0.00 11,835.00
profit or loss under equity method
Changes in fair value of
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
investment in other debt obligations
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Amount of financial assets
reclassified to other comprehensive 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
income
Provision for credit
impairment of investment in other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
debt obligations
Reserves for cash flow hedges 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Translation differences arising
from translation of foreign currency -83,621,804.00 37,982,753.00 0.00 0.00 0.00 55,687,224.00 -17,704,471.00 -27,934,580.00
financial statements
Total of other comprehensive income -22,198,072.00 -90,111,744.00 0.00 0.00 -2,371,408.00 -70,035,865.00 -17,704,471.00 -92,233,937.00
Other notes, including the note to the adjustment of the initial recognition amount of hedged item transferred from the effective gain/loss on cash flow hedges:
N/A
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45. Surplus Reserves
Unit: RMB
Item Beginning balance Increase Decrease Ending balance
Statutory surplus reserve 2,154,745,360.00 4,161,389.00 0.00 2,158,906,749.00
Discretionary surplus
289,671,309.00 0.00 0.00 289,671,309.00
reserve
Reserve fund 0.00 0.00 0.00 0.00
Enterprise expansion
0.00 0.00 0.00 0.00
fund
Others 0.00 0.00 0.00 0.00
Total 2,444,416,669.00 4,161,389.00 0.00 2,448,578,058.00
Notes to surplus reserves, including the note to increase and decrease in the Reporting Period and the reason for changes:
N/A
46. Retained Profits
Unit: RMB
Item Reporting Period Same period of last year
Opening balance of retained profits before
15,509,794,622.00 12,381,758,005.00
adjustments
Total beginning balance of retained profits before
0.00 -533,906,114.00
adjustments (increase+, decrease-)
Beginning balance of retained profits after
15,509,794,622.00 11,847,851,891.00
adjustments
Add: Net profit attributable to owners of the
12,762,024,968.00 5,035,627,952.00
Company as the parent
Less: Appropriation for statutory surplus reserve 0.00 -373,919,158.00
Withdrawal of discretional surplus reserves 0.00 0.00
Withdrawal of general reserve 0.00 0.00
Dividends to ordinary shares 3,477,021,263.00 695,967,975.00
Dividend of common stock transferred into
0.00 0.00
share capital
Interest on holders of other equity instruments -264,607,123.00 -485,925,480.00
Transfer of other comprehensive income to -37,452,500.00 -171,164,417.00
retained earnings
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BOE Technology Group Co., Ltd. Interim Report 2021
Effect of accounting for disposal of subsidiaries to 0.00 -3,454,053.00
equity method
Others 0.00 -7,508,922.00
Retained earnings 24,567,643,704.00 15,509,794,622.00
List of adjustment of beginning retained profits:
(1) RMB0.00 beginning retained profits was affected by retrospective adjustment conducted according to the Accounting Standards
for Business Enterprises and relevant new regulations.
(2) RMB0.00 beginning retained profits was affected by changes in accounting policies.
(3) RMB0.00 beginning retained profits was affected by correction of significant accounting errors.
(4) RMB0.00 beginning retained profits was affected by changes in combination scope arising from same control.
(5) RMB0.00 beginning retained profits was affected totally by other adjustments.
47. Operating Revenue and Cost of Sales
Unit: RMB
Reporting Period Same period of last year
Item
Income Cost Income Cost
Principal activities 105,579,941,303.00 72,537,190,576.00 54,933,350,804.00 45,791,259,112.00
Other operating activities 1,705,385,723.00 1,208,698,455.00 1,817,978,261.00 1,362,587,556.00
Total 107,285,327,026.00 73,745,889,031.00 56,751,329,065.00 47,153,846,668.00
Relevant information of revenue
Unit: RMB
Category of contracts Segment 1 Segment 2 Total
Types of products 0.00 0.00 0.00
Of which:
By operating places 0.00 0.00 0.00
Of which:
By types of market or customers 0.00 0.00 0.00
Of which:
Types of contracts 0.00 0.00 0.00
Of which:
By the time of transferring
0.00 0.00 0.00
goods
Of which:
By contract term 0.00 0.00 0.00
Of which:
By marketing channel 0.00 0.00 0.00
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BOE Technology Group Co., Ltd. Interim Report 2021
Of which:
Total 0.00 0.00 0.00
Information related to performance obligations:
The amount of revenue corresponding to performance obligations of contracts signed but not performed or not fully performed yet
was RMB0.00 at the period-end, among which RMB0.00 was expected to be recognized in 0 year, RMB0.00 in 0 year and RMB0.00
in 0 year.
Information related to transaction value assigned to residual performance obligations:
The amount of revenue corresponding to performance obligations of contracts signed but not performed or not fully performed yet
was RMB0.00 at the period-end, among which RMB0.00 was expected to be recognized in 0 year, RMB0.00 in 0 year and RMB0.00
in 0 year.
Other notes:
N/A
48. Taxes and Surtaxes
Unit: RMB
Item Reporting Period Same period of last year
Consumption tax 0.00 0.00
City maintenance and construction tax 203,891,270.00 131,932,109.00
Education Surcharge 146,864,277.00 94,874,954.00
Resources tax 0.00 0.00
Property tax 292,983,778.00 192,626,452.00
Land use tax 28,491,208.00 19,149,316.00
Vehicle and vessel tax 0.00 0.00
Stamp duty 85,587,761.00 56,744,347.00
Others 36,086,062.00 17,286,935.00
Total 793,904,356.00 512,614,113.00
Other notes:
N/A
49. Selling Expense
Unit: RMB
Item Reporting Period Same period of last year
Warranty provisions 1,415,523,949.00 606,173,023.00
Staff cost 592,486,021.00 358,124,169.00
Others 287,492,372.00 486,528,292.00
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BOE Technology Group Co., Ltd. Interim Report 2021
Total 2,295,502,342.00 1,450,825,484.00
Other notes:
N/A
50. Administrative Expense
Unit: RMB
Item Reporting Period Same period of last year
Staff cost 2,140,478,405.00 1,159,256,892.00
Repair expense 795,919,047.00 612,443,318.00
Depreciation and amortization 433,446,892.00 288,718,246.00
Others 660,578,994.00 457,178,194.00
Total 4,030,423,338.00 2,517,596,650.00
Other notes:
N/A
51. Development Costs
Unit: RMB
Item Reporting Period Same period of last year
Staff cost 2,552,552,731.00 1,417,861,105.00
Material expenses 1,107,308,334.00 607,485,518.00
Depreciation and amortization 968,153,920.00 708,260,662.00
Others 374,503,954.00 510,825,813.00
Total 5,002,518,939.00 3,244,433,098.00
Other notes:
N/A
52. Finance Costs
Unit: RMB
Item Reporting Period Same period of last year
Interest expense 2,438,979,548.00 1,498,088,250.00
Interest income -443,748,698.00 -421,677,692.00
Net loss on exchange -295,822,911.00 92,435,224.00
Others 58,888,292.00 35,514,076.00
Total 1,758,296,231.00 1,204,359,858.00
Other notes:
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BOE Technology Group Co., Ltd. Interim Report 2021
N/A
53. Other Income
Unit: RMB
Sources Reporting Period Same period of last year
Government grants related to assets 171,893,815.00 155,425,862.00
Government grants related to income 952,619,529.00 1,365,472,248.00
Others 7,265,880.00 4,619,905.00
Total 1,131,779,224.00 1,525,518,015.00
54. Investment Income
Unit: RMB
Item Reporting Period Same period of last year
Income from long-term equity investments accounted for using
620,013.00 -27,648,162.00
equity method
Investment income from disposal of long-term equity investments -1,490,516.00 0.00
Investment income arising from holding of trading financial
0.00 0.00
assets
Investment income from disposal of financial assets held for
8,343,154.00 14,126,141.00
trading
Dividend income received from holding of other equity
16,450,665.00 10,349,867.00
instrument investment
Gain from remeasurement of remaining equity interests to fair
0.00 0.00
value upon the loss of control
Interest income of investment in debt obligations during holding
2,013,425.00 10,281,395.00
period
Interest income of investment in other debt obligations during
0.00 0.00
holding period
Investment income from disposal of investment in other debt
0.00 8,032,226.00
obligations
Gains from debt restructuring 0.00 0.00
Total 25,936,741.00 15,141,467.00
Other notes:
N/A
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55. Gains from Changes in Fair Value
Unit: RMB
Sources Reporting Period Same period of last year
Financial assets held for trading 37,887,125.00 19,723,299.00
Of which: Gains from changes in fair value of
0.00 0.00
derivative financial instruments
Trading financial liabilities 0.00 0.00
Investment property measured by fair value 0.00 0.00
Total 37,887,125.00 19,723,299.00
Other notes:
N/A
56. Credit Impairment Loss
Unit: RMB
Item Reporting Period Same period of last year
Bad debt loss of other receivables -45,495.00 -4,584.00
Impairment loss of investment in debt obligations 0.00 0.00
Impairment loss of investment in other debt obligations 0.00 0.00
Bad debt loss of long-term receivables 0.00 0.00
Bad debt loss of accounts receivables -33,823,114.00 810,497.00
Total -33,868,609.00 805,913.00
Other notes:
N/A
57. Asset Impairment Loss
Unit: RMB
Item Reporting Period Same period of last year
I. Bad debt loss 0.00 0.00
II. Loss on inventory valuation and contract performance
-1,706,491,865.00 -1,633,588,287.00
cost
III. Impairment losses on long-term equity investment 0.00 0.00
IV. Impairment losses on investment property 0.00 0.00
V. Fixed assets impairment losses -517,917,416.00 -9,692,923.00
VI. Impairment losses on engineering materials 0.00 0.00
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BOE Technology Group Co., Ltd. Interim Report 2021
VII. Impairment losses on construction in progress -83,037,514.00 0.00
VIII. Impairment losses on productive living assets 0.00 0.00
IX. Impairment losses on oil and gas assets 0.00 0.00
X. Impairment losses on intangible assets 0.00 0.00
XI. Goodwill impairment losses 0.00 0.00
XII. Impairment Losses of Contract Assets 0.00 0.00
XIII. Others 0.00 0.00
Total -2,307,446,795.00 -1,643,281,210.00
Other notes:
N/A
58. Asset Disposal Income
Unit: RMB
Sources Reporting Period Same period of last year
Gains from asset disposals 152,606,846.00 11,657,251.00
59. Non-operating Income
Unit: RMB
Amount recorded in the current
Item Reporting Period Same period of last year
non-recurring profit or loss
Income from non-monetary
0.00 0.00 0.00
assets exchange
Donations accepted 0.00 0.00 0.00
Government grants 1,237,320.00 1,218,000.00 1,237,320.00
Others 46,878,482.00 50,975,491.00 46,878,482.00
Total 48,115,802.00 52,193,491.00 48,115,802.00
Government grants recorded into current profit or loss:
Unit: RMB
Whether
Distrib subsidies Special Related to
Distribution Reporting Same period
Item ution Nature influence the subsidy assets/related
entity Period of last year
reason current or not to income
profit or loss
Policy Municipal Due to engage in
Subsid related to
incentives People’s special industry that No No 1,237,320.00 1,218,000.00
y income
and others Government, the state encouraged
201
BOE Technology Group Co., Ltd. Interim Report 2021
National and supported, gained
Development and subsidy (obtaining in
Reform line with the law and
Commission, the regulations of
Bureau of national policy)
Finance, etc.
Other notes:
N/A
60. Non-operating Expense
Unit: RMB
Amount recorded in the current
Item Reporting Period Same period of last year
non-recurring profit or loss
Non-monetary asset exchange
0.00 0.00 0.00
losses
Donations provided 1,605,298.00 11,196,143.00 1,605,298.00
Others 19,942,843.00 21,563,402.00 19,942,843.00
Total 21,548,141.00 32,759,545.00 21,548,141.00
Other notes:
N/A
61. Income Tax Expense
(1) List of Income Tax Expense
Unit: RMB
Item Reporting Period Same period of last year
Current income tax expense 1,984,034,420.00 476,420,992.00
Deferred income tax expense 276,390,618.00 19,386,032.00
Total 2,260,425,038.00 495,807,024.00
(2) Adjustment Process of Accounting Profit and Income Tax Expense
Unit: RMB
Item Reporting Period
Profit before taxation 18,692,254,982.00
Current income tax expense accounted at statutory/applicable tax
2,803,838,247.00
rate
Influence of applying different tax rates by subsidiaries 107,451,063.00
202
BOE Technology Group Co., Ltd. Interim Report 2021
Influence of income tax before adjustment 0.00
Influence of non-taxable income -3,948,241.00
Effect of non-deductible costs, expense and losses 1,817,214.00
Influence of deductible loss of unrecognized deferred income tax
-1,486,243,221.00
assets in prior period
Influence of deductible temporary difference or deductible loss
of unrecognized deferred income tax assets in the Reporting 579,811,751.00
Period
Others 257,698,225.00
Income tax expenses 2,260,425,038.00
Other notes:
N/A
62. Other Comprehensive Income
Refer to Notes 44 for details.
63. Cash Flow Statement
(1) Cash Generated from Other Operating Activities
Unit: RMB
Item Reporting Period Same period of last year
Government grants related to income 3,304,516,231.00 2,051,309,903.00
Restricted deposits and others 353,503,906.00 1,102,982,569.00
Total 3,658,020,137.00 3,154,292,472.00
Notes: None
N/A
(2) Cash Used in Other Operating Activities
Unit: RMB
Item Reporting Period Same period of last year
Daily expenditure paid 2,071,733,547.00 1,730,224,599.00
Daily operation margins, deposits, and
511,195,301.00
others paid 289,513,172.00
Total 2,361,246,719.00 2,241,419,900.00
Notes:
N/A
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BOE Technology Group Co., Ltd. Interim Report 2021
(3) Cash Generated from Other Investing Activities
Unit: RMB
Item Reporting Period Same period of last year
Interest income from investment activities 206,651,265.00 101,645,769.00
Investment-based margins and others
374,042,465.00 58,229,978.00
received
Total 580,693,730.00 159,875,747.00
Notes:
N/A
(4) Cash Used in Other Investing Activities
Unit: RMB
Item Reporting Period Same period of last year
Increase in restricted deposits in financial
286,150,106.00 23,276,426.00
institutions
Investment-based margins and others
41,492,057.00 27,307,468.00
returned
Total 327,642,163.00 50,583,894.00
Notes:
N/A
(5) Cash Generated from Other Financing Activities
Unit: RMB
Item Reporting Period Same period of last year
Recovery of restricted deposits in financial
1,007,134,885.00 1,400,844,492.00
institutions
Individual income tax and others withheld
43,781,204.00 35,430,043.00
by A-B Shares
Total 1,050,916,089.00 1,436,274,535.00
Notes:
N/A
(6) Cash Used in Other Financing Activities
Unit: RMB
Item Reporting Period Same period of last year
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BOE Technology Group Co., Ltd. Interim Report 2021
Repurchase of equities of non-controlling
6,489,085,322.00 0.00
shareholders
Leasing-related principals and interests and
935,347,581.00 207,794,479.00
others
Total 7,424,432,903.00 207,794,479.00
Notes:
N/A
64. Supplemental Information for Cash Flow Statement
(1) Supplemental Information for Cash Flow Statement
Unit: RMB
Supplemental information Reporting Period Same period of last year
1. Reconciliation of net profit to net cash flows generated from
-- --
operating activities:
Net profit 16,431,829,944.00 120,844,851.00
Add: Provision for impairment of assets 2,341,315,404.00 1,644,087,123.00
Depreciation of fixed assets, oil-gas assets, and productive
16,104,794,927.00 9,733,828,170.00
living assets
Depreciation of right-to-use assets 164,503,238.00 0.00
Amortization of intangible assets 528,499,995.00 151,109,865.00
Amortization of long-term deferred expenses 66,159,277.00 66,705,586.00
Losses on disposal of fixed assets, intangible assets and other
-152,137,294.00 -3,754,816.00
long-lived assets (gains: negative)
Losses on scrap of fixed assets (gains: negative) 3,074,286.00 11,267,094.00
Losses from variation of fair value (gains: negative) -37,887,125.00 -19,723,299.00
Finance costs (gains: negative) 1,886,733,641.00 1,356,619,662.00
Investment loss (gains: negative) -25,936,741.00 -15,141,467.00
Decrease in deferred income tax assets (gains: negative) 134,940,635.00 57,549,826.00
Increase in deferred income tax liabilities (“-” means
139,078,578.00 -36,740,949.00
decrease)
Decrease in inventory (gains: negative) -6,965,171,404.00 -5,185,028,859.00
Decrease in accounts receivable generated from operating
-13,418,180,813.00 -931,804,185.00
activities (gains: negative)
Increase in accounts payable used in operating activities 13,699,858,412.00 2,623,637,968.00
(decrease: negative)
Others 1,843,713,379.00 143,218,964.00
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BOE Technology Group Co., Ltd. Interim Report 2021
Net cash inflow from operating activities 32,745,188,339.00 9,716,675,534.00
2. Significant investing and financing activities without involvement of
-- --
cash receipts and payments:
Transfer of debt to capital 0.00 0.00
Convertible corporate bonds due within one year 0.00 0.00
Fixed assets leased in through financing 0.00 0.00
3. Net increase/decrease of cash and cash equivalent: -- --
Ending balance of cash 66,341,627,103.00 51,606,740,026.00
Less: Beginning balance of cash 68,064,736,371.00 50,270,321,573.00
Add: Ending balance of cash equivalents 0.00 0.00
Less: Beginning balance of cash equivalents 0.00 0.00
Net increase in cash and cash equivalents -1,723,109,268.00 1,336,418,453.00
(2) Cash and Cash Equivalent
Unit: RMB
Item Ending balance Beginning balance
I. Cash 66,341,627,103.00 68,064,736,371.00
Including: Cash on hand 1,084,972.00 401,041.00
Bank deposits available on demand 66,337,793,599.00 68,063,719,329.00
Other monetary funds available on 2,748,532.00
616,001.00
demand
Accounts deposited in the central
0.00 0.00
bank available for payment
Deposits in other banks 0.00 0.00
Accounts of interbank 0.00 0.00
II. Cash equivalents 0.00 0.00
Of which: Bond investment expired within
0.00 0.00
three months
III. Ending balance of cash and cash 66,341,627,103.00
68,064,736,371.00
equivalents
Of which: Cash and cash equivalents with 2,748,532.00
restriction in use for the Company as the 616,001.00
parent or subsidiaries of the Group
Other notes:
N/A
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BOE Technology Group Co., Ltd. Interim Report 2021
65. Notes to Items in Statements of Changes in Owners’ Equity
Notes to names under the item of “Other” in the adjusted ending balance for the same period of last year and the corresponding
amount:
N/A
66. Assets with Restricted Ownership or Right to Use
Unit: RMB
Item Ending carrying value Reason for restriction
Cash at bank 4,898,511,123.00 Pledged as collateral and margin deposit
Bills receivable 29,880,198.00 Endorsed with resource
Inventories 0.00 N/A
Fixed assets 159,026,382,261.00 Mortgaged as collateral
Intangible assets 1,636,495,867.00 Mortgaged as collateral
Construction in progress 11,680,731,138.00 Mortgaged as collateral
Investment properties 64,759,263.00 Mortgaged as collateral
Total 177,336,759,850.00 --
Other notes:
N/A
67. Foreign Currency Monetary Items
(1) Foreign Currency Monetary Items
Unit: RMB
Ending foreign currency Ending balance converted to
Item Exchange rate
balance RMB
Cash at bank -- --
Including: USD 3,522,450,951.00 6.4601 22,755,385,391.00
EUR 128,903,429.00 7.6862 990,777,538.00
HKD 15,470,839.00 0.8321 12,873,285.00
Accounts receivable -- --
Including: USD 3,494,725,108.00 6.4601 22,576,273,670.00
EUR 98,940,345.00 7.6862 760,475,280.00
HKD 0.00 0.8321 0.00
Long-term loans -- --
Including: USD 5,068,171,853.00 6.4601 32,740,896,988.00
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BOE Technology Group Co., Ltd. Interim Report 2021
EUR 182,138,465.00 7.6862 1,399,952,670.00
HKD 0.00 0.8321 0.00
Other notes:
N/A
(2) Notes to Overseas Entities Including: for Significant Oversea Entities, Main Operating Place, Recording
Currency and Selection Basis Shall Be Disclosed; if there Are Changes in Recording Currency, Relevant
Reasons Shall Be Disclosed.
□ Applicable √ Not applicable
VIII. Changes of Consolidation Scope
1. Business Combinations Involving Entities Not Under Common Control
(1) Business Combinations Involving Entities Not Under Common Control Occurred During the Reporting
Period
Unit: RMB
The The
Basis for acquiree's acquiree's net
Date of Cost of Proportion of Method of determining revenue from profit from
Name of the Acquisition
equity equity equities equity the the the
acquiree date
acquisition acquisition acquired acquisition acquisition acquisition acquisition
date date to the date to the
period-end period-end
N/A
Other notes: N/A
(2) Acquisition Cost and Goodwill
Unit: RMB
Acquisition cost
--Cash 0.00
--Fair value of non-cash assets 0.00
--Fair value of issued or assumed debts 0.00
--Fair value of issued equity securities 0.00
--Fair value of the contingent consideration 0.00
--Fair value of equity interests held before the acquisition date on 0.00
the acquisition date
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BOE Technology Group Co., Ltd. Interim Report 2021
Others 0.00
Total acquisition cost 0.00
Less: Share of the fair value of the identifiable net assets 0.00
acquired
Amount of goodwill/acquisition cost less than share of the fair 0.00
value of the identifiable net assets acquired
Notes to the method for determining the fair value of the acquisition cost and contingent consideration and its changes: None
Main reasons for the formation of large-amount goodwill: None
Other notes: N/A
(3) Identifiable Assets and Liabilities of the Acquiree on the Acquisition Date
Unit: RMB
Fair value on the acquisition date Carrying value on the acquisition date
Assets: 0.00 0.00
Cash at bank 0.00 0.00
Receivables 0.00 0.00
Inventories 0.00 0.00
Fixed assets 0.00 0.00
Intangible assets 0.00 0.00
0.00 0.00
Liabilities: 0.00 0.00
Loans 0.00 0.00
Payables 0.00 0.00
Deferred tax liabilities 0.00 0.00
0.00 0.00
Net assets 0.00 0.00
Less: Non-controlling interests 0.00 0.00
Net assets acquired 0.00 0.00
Method for determining the fair value of identifiable assets and assets: None
Contingent liabilities of the acquiree assumed in the business combination: None
Other notes: N/A
(4) Gain or Loss from Remeasurement of Equity Interests Held before the Acquisition Date at Fair Value
Whether there were several transactions to realize business combinations and acquire controls during the Reporting Period
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BOE Technology Group Co., Ltd. Interim Report 2021
□ Yes √ No
(5) Notes to Failure to Reasonably Determine the Combination Consideration or the Fair Value of
Identifiable Assets and Liabilities of the Acquiree on the Acquisition Date or at the End of the Current
Period
N/A
(6) Other Notes
N/A
2. Business Combinations Involving Entities Under Common Control
(1) Business Combinations Involving Entities Under Common Control Occurred During the Reporting
Period
Unit: RMB
The The
combined combined
party's party's net
Basis for the
revenue from profit from The The
Proportion of judgment
Basis for the beginning the beginning combined combined
equity about the
Name of the determining of the current of the current party's party's net
interests business Combination
combined the period, in period, in revenue profit during
acquired in combination date
party combination which the which the during the the
the business under
date combination combination comparison comparison
combination common
occurred, to occurred, to period period
control
the the
combination combination
date date
N/A
Other notes: N/A
(2) Acquisition Cost
Unit: RMB
Acquisition cost
--Cash 0.00
--Carrying value of non-cash assets 0.00
--Carrying value of issued or assumed debts 0.00
--Carrying value of issued equity securities 0.00
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BOE Technology Group Co., Ltd. Interim Report 2021
--Contingent consideration 0.00
Notes to contingent consideration and its changes: None
Other notes: None
(3) The Carrying Value of Assets and Liabilities of the Combined Party on the Combination Date
Unit: RMB
Combination date End of the previous period
Assets: 0.00 0.00
Cash at bank 0.00 0.00
Receivables 0.00 0.00
Inventories 0.00 0.00
Fixed assets 0.00 0.00
Intangible assets 0.00 0.00
0.00 0.00
Liabilities: 0.00 0.00
Loans 0.00 0.00
Payables 0.00 0.00
0.00 0.00
Net assets 0.00 0.00
Less: Non-controlling interests 0.00 0.00
Net assets acquired 0.00 0.00
Contingent liabilities of the combined party assumed in business combinations: None
Other notes: N/A
3. Counter Purchase
Basic information of the transactions, basis of the counter purchase, basis and whether assets and liabilities retained by the listed
company constitute business, determination of the combination cost, the amount and calculation of the equity amount adjusted in
treatment for the equity transaction:
N/A
4. Disposal of Subsidiary
Whether there is a single disposal of the investment to the subsidiary and lost control?
□ Yes √ No
Whether there are several disposals of the investment to the subsidiary and lost controls?
□ Yes √ No
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5. Changes in Combination Scope for Other Reasons
Note to changes in combination scope for other reasons (such as newly establishment or liquidation of subsidiaries, etc.) and relevant
information:
In the year, the Company newly established one subsidiary, BOE Jingxin Technology Co., Ltd., with 100% shareholding.
6. Other
N/A
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BOE Technology Group Co., Ltd. Interim Report 2021
IX. Equity in Other Entities
1. Interests in Subsidiaries
(1) Subsidiaries
Principal place Registered Shareholding percentage
Name of the Subsidiary Business nature Acquisition method
of business place Direct Indirect
Beijing BOE Optoelectronics Beijing, Research and development (“R&D”), design and manufacturing
Beijing, China 82.49% 17.51% Founded by investment
Technology Co., Ltd. China of TFT-LCD
Chengdu BOE Optoelectronics Business combinations
Chengdu, Chengdu, R&D, design, production and sales of new display devices and
Technology Co., Ltd. (“Chengdu 100.00% 0.00% involving entities not under
China China modules and other electronic components.
Optoelectronics”) common control
Investment, construction, R&D, production and sales of the Business combinations
Hefei BOE Optoelectronics
Hefei, China Hefei, China relevant products of thin film transistor LCD and its auxiliary 100.00% 0.00% involving entities not under
Technology Co., Ltd.
products. common control
Beijing BOE Display Technology Co., Beijing,
Beijing, China Development of TFT-LCD, manufacturing and sale of LCD 97.17% 2.83% Founded by investment
Ltd. (“Beijing BOE Display”) China
Investment, construction, R&D, production and sales of the Business combinations
Hefei Xinsheng Optoelectronics
Hefei, China Hefei, China relevant products of thin film transistor LCD and its auxiliary 99.97% 0.03% involving entities not under
Technology Co., Ltd.
products. common control
Erdos Yuansheng Optoelectronics Co., Manufacture and sales of AM-OLED products and auxiliary
Erdos, China Erdos, China 100.00% 0.00% Founded by investment
Ltd. (“Yuansheng Optoelectronics”) products.
Chongqing BOE Optoelectronics R&D, production and sales of semi-conducting display devices, Business combinations
Chongqing, Chongqing,
Technology Co., Ltd. (“Chongqing complete machine and related products; import & export of 100.00% 0.00% involving entities not under
China China
BOE”) goods and technology consulting. common control
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BOE Technology Group Co., Ltd. Interim Report 2021
Fuzhou BOE Optoelectronics Investment, construction, R&D, production and sales of the Business combinations
Fuzhou,
Technology Co., Ltd. (“Fuzhou Fuzhou, China relevant products of thin film transistor LCD and its auxiliary 81.25% 0.00% involving entities not under
China
BOE”) products. common control
Manufacture of LCD TV, LCD; technology development of
Beijing BOE Video Technology Co., Beijing,
Beijing, China terminal products and systems such as TFT-LCD display and 100.00% 0.00% Founded by investment
Ltd. (“BOE Video”) China
TV
Beijing BOE Vacuum Electronics Co., Beijing,
Beijing, China Manufacture and sale of vacuum electronic products 55.00% 0.00% Founded by investment
Ltd. China
Beijing BOE Vacuum Technology Beijing,
Beijing, China Manufacture and sale of electronic tubes. 100.00% 0.00% Founded by investment
Co., Ltd. China
Beijing Smart Aero Display
Technology Co., Ltd. (Formerly Beijing, Development of display products and sale of electronic
Beijing, China 100.00% 0.00% Founded by investment
Beijing BOE Special Display China products.
Technology Co., Ltd.)
Beijing, Management of engineering projects; real estate development;
Beijing Yinghe Century Co., Ltd. Beijing, China 100.00% 0.00% Founded by investment
China public parking lot for motor vehicles service; office lease.
BOE Optical Science and Technology
Suzhou, R&D, production and sales of LCD, back light for display and
Co., Ltd. (“Optical Science and Suzhou, China 95.17% 0.00% Founded by investment
China related components.
Technology”)
BOE Hyundai LCD (Beijing) Display Beijing, Development, manufacture and sale of liquid display for mobile
Beijing, China 75.00% 0.00% Founded by investment
Technology Co., Ltd. China termination.
BOE (Hebei) Mobile Technology Co., Langfang, Langfang, Manufacture and sale of mobile flat screen display technical
100.00% 0.00% Founded by investment
Ltd. (“BOE Hebei”) China China products and related services.
Beijing BOE Multimedia Technology Beijing, Sales of computer software and hardware, digital video-audio
Beijing, China 100.00% 0.00% Founded by investment
Co. Ltd. (“BOE Multimedia”) China products
Beijing BOE Energy Technology Co., Beijing, Design, consultancy and service of solar cell, photovoltaic
Beijing, China 100.00% 0.00% Founded by investment
Ltd. (“BOE Energy”) China system, wind power system and solar thermal system as well as
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BOE Technology Group Co., Ltd. Interim Report 2021
the assembly units; energy-saving service.
Beijing BOE Life Technology Co., Beijing, Technology promotion services, property management, sales of
Beijing, China 100.00% 0.00% Founded by investment
Ltd. (“BOE Life Technology”) China electronic products
Beijing Zhongxiangying Technology Beijing, Technology promotion services, property management, sales of
Beijing, China 100.00% 0.00% Founded by investment
Co., Ltd. (“Zhongxiangying”) China electronic products
Ordos City Haosheng Energy Ordos,
Ordos, China Energy investment 0.00% 100.00% Founded by investment
Investment Co., Ltd. China
Processing, manufacturing and sales of precision electronic
Beijing, components, semi-conductor devices, micro modules,
BOE Semi-conductor Co., Ltd. Beijing, China 84.00% 0.00% Founded by investment
China microelectronic devices and electronic materials; import &
export of goods
British
BOE Optoelectronics Holding Co., Design, manufacturing and sales of electronic-information
Hong Kong Virgin 100.00% 0.00% Founded by investment
Ltd ("Optoelectronics Holding") industry related products, investment and financing businesses.
Islands
Business combinations
BOE Health Investment Management Beijing,
Beijing, China Investment management and project investment. 100.00% 0.00% involving entities not under
Co., Ltd. (“Health Investment”) China
common control
Colour TV set, display tube, colour RPTV projection tube and Business combinations
Beijing Matsushita Color CRT Co., Beijing,
Beijing, China materials of electronic components; property management and 88.80% 0.00% involving entities not under
Ltd. (“Matsushita Color CRT”) China
parking services, etc. common control
Business combinations
Hefei BOE Display Technology Co., Investment, R & D and production of products related to
Hefei, China Hefei, China 8.33% 0.00% involving entities not under
Ltd. (“Hefei Technology”) TFT-LCD and the supporting facility
common control
Beijing BOE Technology
Beijing,
Development Co., Ltd. (“Technology Beijing, China Development, transfer, consulting and service of technology 100.00% 0.00% Founded by investment
China
Development”)
Hefei BOE Zhuoyin Technology Co., Hefei, China Hefei, China Investment, construction, R&D, production and sales of 75.00% 0.00% Founded by investment
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BOE Technology Group Co., Ltd. Interim Report 2021
Ltd. (“Zhuoyin Technology”) products related to OLED display device and auxiliary
products.
Development, construction, property management and
supporting service of industrial plants and supporting facilities;
Beijing,
Beijing BOE Land Co., Ltd. Beijing, China information consulting of real estate; lease of commercial 70.00% 0.00% Founded by investment
China
facilities, commercial attendants and the supporting service
facilities; motor vehicles public parking service.
Sales of communication equipment, hardware & software of
computer and peripheral units, electronic products, equipment
Beijing, maintenance; development, transfer, consulting and service
Beijing BOE Marketing Co., Ltd. Beijing, China 100.00% 0.00% Founded by investment
China providing of technologies; import & export of goods and
technologies, agency of import & export; manufacturing
consignment of electronic products and LCD devices.
Development, spread, transfer, consulting and service providing
of display technology; service providing of computer
Yunnan Chuangshijie Optoelectronic software/hardware and network systems; construction,
Yunnan,
Technology Co., Ltd. ("Yunnan Yunnan, China operation and management of e-commerce platforms; providing 77.81% 0.00% Founded by investment
China
BOE") service of conferences; undertaking of exhibitions; computer
animation design; production, R&D and sales of OLED micro
display devices and AR/VR complete machine; storage services
Investment, construction, R&D, production and sales,
Business combinations
Wuhan BOE Optoelectronics Wuhan, technology development, transfer, consulting, and service of the
Wuhan, China 23.08% 0.00% involving entities not under
Technology Co., Ltd. (“Wuhan BOE”) China relevant products of thin film transistor LCD and its auxiliary
common control
products
Mianyang BOE Optoelectronics Business combinations
Sichuan, Sichuan, Production of display panel for high-end smart phones, folding
Technology Co., Ltd. (“Mianyang 83.46% 0.00% involving entities not under
China China laptops etc. and R&D, production and sales of modules.
BOE”) common control
Chongqing BOE Display Technology Chongqing, Chongqing, R&D, manufacture and sales of semiconductor display devices, 38.46% 0.00% Business combinations
216
BOE Technology Group Co., Ltd. Interim Report 2021
Co., Ltd. (“Chongqing BOE Display”) China China whole widget and relevant products, import and export of goods involving entities not under
and technical consulting common control
Development, testing, consulting, service and transfer of
technologies in X-ray sensors, micro fluidic chips, biochemical
Beijing BOE Sensing Technology Co., Beijing,
Beijing, China chips, gene chips, security sensors, microwave antenna, 100.00% 0.00% Founded by investment
Ltd. China
biological sensors, internet of things, and modules, systems and
equipment of other semiconducting sensors.
R&D, production and sales of semiconductor display
device-related products and related products; import or export
of goods or technology; display device and component, other
Business combinations
Fuzhou BOE Display Technology Co., Fuzhou, electronic components, and technology development,
Fuzhou, China 43.46% 0.00% involving entities not under
Ltd. China technology transfer, technical consulting, related fields related
common control
to display devices and electronic products, technical services;
business management consulting; property management; house
rental; machinery and equipment rental
Supports color electronic paper, segment LCD, TFT-LCD
display, covering ESL multi-frequency protocol, Wi-Fi, BLE
and NFC; multiple communication methods, integrated Business combinations
Nanterre, Nanterre,
SES Imagotag SA Co.Ltd. electronic paper supply chain resources and downstream 0.00% 68.48% involving entities not under
France France
software around electronic shelf labels Platform, image common control
recognition and big data analytics resources to create a
complete solution for the retail industry.
Investment, R&D, manufacturing and sales of direct display,
sensors related to the display, back light source for LCD and
Hefei BOE Xingyu Technology Co.,
Hefei, China Hefei, China supporting components; enterprise management consulting and 43.40% 0.00% Founded by investment
Ltd.
service; house rental; equipment rental; technology
development, transfer and consulting services.
Beijing, Technology development, software development, sales of
BOE Education Technology Co., Ltd. Beijing, China 100.00% 0.00% Founded by investment
China stationery supplies, sports supplies and home appliances;
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BOE Technology Group Co., Ltd. Interim Report 2021
business management, economic and trade consultancy,
education consultancy, public relations services; research and
experiment development of natural science, engineering
technology, and agricultural science; copyright agency and arts
and crafts creation services.
Technology development; sales of primary edible agricultural
products; translation services, conference services; business
management, real estate information consulting; ticketing
Oriental Chengqi (Beijing) Business Beijing, agents, tourism consulting, warehousing services, public
Beijing, China 100.00% 0.00% Founded by investment
Technology Co., Ltd. China relations services, car rental; import and export of goods,
technology import and export; beauty services, medical
services; inbound tourism business; Internet information
services.
Beijing,
BOE Innovation Investment Co., Ltd. Beijing, China Project investment and investment management. 100.00% 0.00% Founded by investment
China
Information system integration services; technology
development, technology transfer; software development;
Internet data services; real estate brokerage business; motor
Beijing,
BOE Smart Technology Co., Ltd. Beijing, China vehicle public parking services; conference services; project 100.00% 0.00% Founded by investment
China
management; property management; lease of office space and
commercial space; labour subcontracting; import and export of
goods, technology import and export; human resource services.
R&D, manufacturing and sales of TFT-LCD panels, color filters
and whole liquid crystal modules; provision of products and
Nanjing BOE Display Technology business-related services, as well as other business activities Business combinations
Nanjing, Beijing,
Co., Ltd. (Formerly Nanjing CEC associated with the foregoing; proprietary and agency import 80.83% 0.00% involving entities not under
China China
Panda FPD Technology Co., Ltd.) and export of various goods and technologies (excluding goods common control
and technologies restricted by state or import & export
prohibited). (For items that require approval by law, the
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BOE Technology Group Co., Ltd. Interim Report 2021
approval from related authorities must be obtained before
engagement in the business activities)
R&D, production and sales of TFT-LCD panels and modules,
liquid crystal display monitors, televisions, instruments,
machinery equipment and accessories as well as provision of Business combinations
Chengdu CEC Panda Display Sichuan, Sichuan,
technical services; foreign trade in form of import and export of 35.03% 0.00% involving entities not under
Technology Co., Ltd. China China
goods and technology. (For items that require approval by law, common control
the approval from related authorities must be obtained before
engagement in the business activities)
Technology development, technology consultancy, technology
transfer, and technology services; basic software services;
application software services; computer system services;
Internet data services (excluding data centers in Internet data
services and cloud computing data center with PUE over 1.4);
Beijing,
BOE Jingxin Technology Co., Ltd. Beijing, China information processing and storage support services; general 100.00% 100.00% Founded by investment
China
contracting, professional contracting, and labor subcontracting;
equipment installation, maintenance, and leasing; literary and
artistic creation; computer animation design; product design;
enterprise management consulting; sales of computers, software
and auxiliary equipment, as well as electronic products.
Explanations that the shareholding percentage is different from the voting right percentage in subsidiaries:
The Company and the shareholder of Hefei Display, Hefei Core Screen Industrial Investment Fund (Limited Partnership) signed a concerted action agreement on 30 November 2016, Hefei Core
Screen Industrial Investment Fund (Limited Partnership) agreed to act as a concerted action according to the wishes of the Company, and exercised the voting rights unconditionally and
irrevocably in accordance with the opinions of the Company. Therefore, the Company’s voting right ratio to Hefei is 71.67%.
The Company signed an agreement of acting in concert with the shareholder of Wuhan BOE, Wuhan Airport Economic Development Zone Industrial Development Investment Group Co., Ltd.
on 25 December 2018. Wuhan Airport Economic Development Zone Industrial Development Investment Group Co., Ltd. agreed to follow the Company’s will to act as a person acting in
concert, unconditionally and irrevocably exercising voting rights in accordance with the opinions of the Company, the voting rights of the Company to Wuhan BOE is 69.23%.
The Company and shareholders of Chongqing BOE Display, Chongqing Strategic Emerging Industry Equity Investment Fund Partnership (Limited Partnership) and Chongqing Yuzi
Optoelectronics Industry Investment Co., Ltd. signed a concerted action agreement on December 25, 2018. Chongqing Strategic Emerging Industry Equity Investment Fund Partnership
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BOE Technology Group Co., Ltd. Interim Report 2021
(Limited Partnership) and Chongqing Yuzi Optoelectronics Industry Investment Co., Ltd. agreed to act as a concerted action according to the will of the Company, and exercise the voting rights
unconditionally and irrevocably in accordance with the opinions of the Company. Therefore, the proportion of voting rights displayed by the Company on Chongqing BOE is 100%.
The Company and Shareholder of Fuzhou BOE Display, Fuqing City Invested-Construction Investment Group Co., Ltd and Fuzhou Urban Construction Investment Group Co., Ltd signed a
concerted action agreement on 21 January 2019. Fuqing City Invested-Construction Investment Group Co., Ltd and Fuzhou Urban Construction Investment Group Co., Ltd agreed to act as a
concerted action according to the will of the Company, and exercise the voting rights unconditionally and irrevocably in accordance with the opinions of the Company. Therefore, the proportion
of voting rights displayed by the Company on Fuzhou BOE Display is 100%.
The Company signed an agreement of acting in concert with shareholders of Chengdu CEC Panda, Chengdu Advanced Manufacturing Industry Investment Co., Ltd., Chengdu Airport
Xingcheng Investment Group Co., Ltd., and Chengdu Airport Xingcheng Construction Management Co., Ltd. on 17 December 2020, and then signed an agreement of acting in concert with
Nanjing CEC Panda Information Industry Group Co., Ltd. and China Electronics Corporation on 31 December 2020. The above-mentioned five companies agreed to act as persons acting in
concert according to the will of the Company, and exercise the voting rights unconditionally and irrevocably in accordance with the opinions of the Company. Therefore, the proportion of
voting rights of the Company to Chengdu CEC Panda is 96.75%.
Basis for the control over the investees with half or less voting right and for not controlling the investees with over half voting right:
N/A
Basis for the control over the significant structured entities included in the scope of combination:
N/A
Basis for the determining the Company as the agent or the trustor:
N/A
Other notes:
N/A
220
BOE Technology Group Co., Ltd. Interim Report 2021
(2) Significant Not Wholly-owned Subsidiary
Unit: RMB
Declaring
Shareholding The profit or loss
dividends
proportion of attributable to Ending balance of
Name of the Subsidiary distributed to
non-controlling non-controlling non-controlling interests
non-controlling
interests interests
interests
Mianyang BOE Optoelectronics
16.54% -146,220,860.00 0.00 3,951,643,130.00
Technology Co., Ltd.
Wuhan BOE Optoelectronics
76.92% 1,161,206,480.00 0.00 21,027,074,603.00
Technology Co., Ltd.
Notes that the shareholding percentage is different from the voting right percentage of non-controlling shareholders in subsidiaries:
N/A
Other notes:
N/A
221
BOE Technology Group Co., Ltd. Interim Report 2021
(3) The Main Financial Information of Significant Not Wholly-owned Subsidiary
Unit: RMB
Name of Ending balance Beginning balance
the Non-cur
Current Current Non-current Total Current Non-current Current Non-current
Subsidia rent Total assets Total assets Total liabilities
assets liabilities liabilities liabilities assets assets liabilities liabilities
ry assets
Mianyan
g BOE
Optoelec 44,483,3
9,366,248,2 53,849,628, 9,693,340,993 20,264,853,744. 29,958,194,73 5,001,552,7 45,771,813,31 50,773,366,081. 8,221,423,949 19,783,319,39 28,004,743,347.
tronics 80,192.0
22.00 414.00 .00 00 7.00 67.00 4.00 00 .00 8.00 00
Technolo 0
gy Co.,
Ltd.
Wuhan
BOE
Optoelec 36,106,0
13,426,914, 49,532,965, 6,010,243,597 16,186,431,404. 22,196,675,00 11,748,881, 34,698,575,56 46,447,456,786. 5,369,267,140 15,257,510,86 20,626,778,008.
tronics 50,523.0
914.00 437.00 .00 00 1.00 218.00 8.00 00 .00 8.00 00
Technolo 0
gy Co.,
Ltd.
Unit: RMB
Reporting Period Same period of last year
Name of the Cash flows from
Total comprehensive Cash flows from Total comprehensive
Subsidiary Operating income Net profit Operating income Net profit operating
income operating activities income
activities
222
BOE Technology Group Co., Ltd. Interim Report 2021
Mianyang
BOE
Optoelectroni
7,139,702,888.00 -884,043,896.00 -884,043,896.00 983,913,609.00 17,328,050.00 -187,115,154.00 -187,115,154.00 4,285,855.00
cs
Technology
Co., Ltd.
Wuhan BOE
Optoelectroni
6,959,030,521.00 1,509,628,810.00 1,509,628,810.00 1,578,297,899.00 53,521,966.00 -213,855,820.00 -213,855,820.00 318,356,092.00
Technology
cs Co., Ltd.
Other notes:
N/A
(4) Significant Limitation on the Use of Assets and Liquidation of Debts of the Company
N/A
(5) Financial Support or Other Support Provided for Structured Entities Included in the Scope of Consolidated Financial Statements
N/A
Other notes:
N/A
223
BOE Technology Group Co., Ltd. Interim Report 2021
2. Transactions That Cause Changes in the Group’s Interests in Subsidiaries That Do Not Result in Loss of
Control
(1) Explanations on Changes in Owner’s Equity of Subsidiary
The Company paid the consideration of RMB6,339,085,322.00 in March 2021 to purchase non-controlling equity interests of
RMB5,700,000,000.00 of Mianyang BOE; non-controlling interests increased the investment in Mianyang BOE by
RMB1,000,000,000.00. The Company held 66.67% of shares in Mianyang BOE before the capital increase and 83.46% of shares
after the capital increase.
The Company increased its investment in Yunnan Chuangshijie by RMB109,820,000.00 in March and April 2021; non-controlling
interests increased the investment in Yunnan Chuangshijie by RMB75,850,000.00. The Company held 79.96% of shares in Yunnan
Chuangshijie before the capital increase and 77.81% of shares after the capital increase.
The company sold 8.28% of the shares of SES Imagotag SA Co. Ltd. in April 2021 and received of EUR 57,200,000.00.
The Company held 68.48% of shares in Yunnan Chuangshijie before the capital decrease and 60.20% of shares after the capital
decrease.
(2) The Effects of the Transaction on Non-controlling Interests and Equity Attributable to Owners of the
Company as the Parent
Unit: RMB
SES Imagotag SA
Mianyang BOE Yunnan Chuangshijie
Co.Ltd.
Purchase cost/disposal consideration 6,339,085,322.00 109,820,000.00 -434,868,720.00
--Cash 6,339,085,322.00 109,820,000.00 -434,868,720.00
--Fair value of non-cash assets 0.00 0.00 0.00
Total of purchase cost /disposal consideration 6,339,085,322.00 109,820,000.00 -434,868,720.00
Less: Subsidiary net assets proportion calculated by share -146,828,923.00
5,389,366,941.00 112,510,239.00
proportion obtained/disposal
Difference 949,718,381.00 -2,690,239.00 -288,039,797.00
Of which: Adjustment of capital reserves -949,718,381.00 2,690,239.00 288,039,797.00
Surplus reserves adjustments 0.00 0.00 0.00
Retained profits adjustments 0.00 0.00 0.00
Other notes:
N/A
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BOE Technology Group Co., Ltd. Interim Report 2021
3. Equity in Joint Ventures or Associated Enterprises
(1) Significant Joint Ventures or Associated Enterprises
Shareholding percentage Accounting treatment
Principal method for the
Registered
Name place of Business nature investment in joint
place Direct Indirect
business ventures or associated
enterprises
N/A
Explanations that the shareholding percentage is different from the voting right percentage in joint ventures or associated enterprises:
N/A
Basis of the voting rights below 20% but with major influence, or without major influence but with over 20% (included) voting rights
held:
N/A
(2) The Main Financial Information of Significant Joint Ventures
Unit: RMB
Beginning balance/The same period of last
Ending balance/Reporting Period
year
N/A
Other notes: N/A
(3) The Main Financial Information of Significant Associated Enterprises
Unit: RMB
Beginning balance/The same period of last
Ending balance/Reporting Period
year
N/A
Other notes: N/A
(4) Summary Financial Information of Insignificant Joint Ventures or Associated Enterprises
Unit: RMB
Beginning balance/The same period of last
Ending balance/Reporting Period
year
Joint venture: -- --
Total carrying value of investment 0.00 0.00
The total of following items according to the -- --
225
BOE Technology Group Co., Ltd. Interim Report 2021
shareholding proportions
--Net profit 0.00 0.00
--Other comprehensive income 0.00 0.00
--Total comprehensive income 0.00 0.00
Associated enterprise: -- --
Total carrying value of investment 3,455,420,187.00 3,693,170,224.00
The total of following items according to the
-- --
shareholding proportions
--Net profit 620,013.00 -27,648,162.00
--Other comprehensive income -64,314,237.00 198,406,448.00
--Total comprehensive income -63,694,224.00 170,758,286.00
Other notes:
N/A
(5) Note to the Significant Restrictions on the Ability of Joint Ventures or Associated Enterprises to
Transfer Funds to the Company
N/A
(6) The Excess Loss of Joint Ventures or Associated Enterprises
Unit: RMB
The cumulative recognized
The derecognized losses (or the
losses in previous The accumulative unrecognized
Name share of net profit) in Reporting
accumulatively losses in Reporting Period
Period
derecognized
Hefei Xin Jing Yuan Electronic
-18,207,308.00 -2,398,832.00 -20,606,140.00
Materials Co., Ltd.
Other notes:
As at 30 June 2021, Hefei Xinjingyuan Electronic Materials Co., Ltd. has continuously incurred losses. Since the Company has no
obligation to undertake extra losses for it, the recognition of the share of its net losses born by the Company shall be limited to that
the carrying value of long-term equity investments is reduced to zero. As at 30 June 2021, the accumulative unrecognized investment
losses are RMB20,606,140.00.
(7) The Unrecognized Commitment Related to Investment to Joint Ventures
N/A
(8) Contingent Liabilities Related to Investment to Joint Ventures or Associated Enterprises
N/A
226
BOE Technology Group Co., Ltd. Interim Report 2021
4. Significant Common Operation
Principal place of Proportion /share portion
Name Registered place Business nature
business Direct Indirect
N/A
Notes to holding proportion or share portion in common operation different from voting proportion:
N/A
For common operation as a single entity, basis of classifying as common operation:
N/A
Other notes:
N/A
5. Equity in the Structured Entity Excluded in the Scope of Consolidated Financial Statements
Notes to the structured entity excluded in the scope of consolidated financial statements:
N/A
6. Other
N/A
X. The Risk Related to Financial Instruments
(1) Credit Risk
Credit risk refers to the risk of financial losses to one party of a financial instrument due to the failure of obligation performance by
the other party. The credit risk of the Group is mainly from accounts receivable. And the management will continue to monitor the
exposure of these credit risks.
The cash at bank of the Group is mainly held with well-known financial institutions. Management does not foresee any significant
credit risks from these deposits and does not expect that these financial institutions may default and cause losses to the Group.
As for accounts receivable, the Group has worked out the credit policies based on actual situation to evaluate customers’ credit so as
to decide the limit of sales on credit and credit period. The credit evaluation is conducted on the basis of a customer’s financial
condition, external rating and historical transaction records. The accounts receivable will expire within 15 to 120 days since the issue
date of account bills. The debtors of overdue accounts receivable will be required to pay off all outstanding balance before obtaining
further credit lines. In general, the Group will not ask customers to offer any collateral.
The credit risk of the Group is mainly influenced by characteristics of customers, not the industries, countries or regions they are in.
Thus, the concentration of material credit risks is mainly generated from material accounts receivable and contract assets of the
Group from individual customers. On the balance sheet date, the accounts receivable of the Group and the Company's top five
customers respectively account for 42% and 0.03% (in 2020: 33% and 0.02%) of total accounts receivable and total contract assets of
the Group and the Company. What’s more, the accounts receivable of the Group not overdue and without impairment are mainly
from customers without debt records recently.
The maximum credit risk exposure born by the Group is the carrying amount of each financial asset in the balance sheet. As stated in
Note XIV, the Group has no external guarantee that will bring credit risks to the Group as at 30 June 2021.
227
BOE Technology Group Co., Ltd. Interim Report 2021
(2) Liquidity Risk
Liquidity risk is the risk that an enterprise will encounter difficulty in meeting obligations that are settled by delivering cash or
another financial asset. The Company and its individual subsidiaries are responsible for their own cash management, including
short-term investment of cash surpluses and the raising of loans to cover expected cash demands (subject to approval by the
Company’s board when the borrowings exceed certain predetermined levels). The Group’s policy is to regularly monitor its liquidity
requirements and its compliance with lending covenants, to ensure that it maintains sufficient reserves of cash, readily realizable
marketable securities and adequate committed lines of funding from major financial institutions to meet its liquidity requirements in
the short and longer term.
(3) Interest Rate Risk
Interest-bearing financial instruments at variable rates and at fixed rates expose the Group to cash flow interest rate risk and fair
value interest risk, respectively. The Group determines the appropriate weightings of the fixed and floating rate interest-bearing
instruments based on the current market conditions and performs regular reviews and monitoring to achieve an appropriate mix of
fixed and floating rate exposure. The Group does not enter into financial derivatives to hedge interest rate risk.
As at 30 June 2021, it is estimated that a general increase/decrease of 100 basis points in interest rates of variable rate instrument,
with all other variables held constant, would decrease/increase the Group's net profit and equity by RMB523.65million (2020:
RMB557.44 million).
In respect of the exposure to cash flow interest rate risk arising from floating rate non-derivative instruments held by the Group at the
balance sheet date, the impact on the net profit and equity is estimated as an annualized impact on interest expense or income of such
a change in interest rates. The analysis is performed on the same basis for the previous year.
(4) Foreign Currency Risk
In respect of cash at bank and on hand, accounts receivable and payable, short-term loans and other assets and liabilities denominated
in foreign currencies other than the functional currency, the Group ensures that its net exposure is kept to an acceptable level by
buying or selling foreign currencies at spot rates when necessary to address short-term imbalances.
(a)The Group’s exposure as at 30 June to currency risk arising from recognized foreign currency assets or liabilities is mainly
denominated in US dollar. The amount of the USD exposure is net liabilities exposure USD2,151,445,251 (2020 net liabilities exposure:
USD2,618,785,628), translated into RMB13,898,551,466 (2020: RMB17,087,314,344), using the spot rate at the balance sheet date.
Differences resulting from the translation of the financial statements denominated in foreign currency are excluded.
(b) Assuming all other risk variables remained constant, a 5% strengthening/weakening of the Renminbi against the US dollar at 30
June would have increased/decreased both the Group's equity and net profit by the amount RMB342,588,632 (2020:
RMB333,959,173).
The sensitivity analysis above assumes that the change in foreign exchange rates had been applied to re-measure those financial
instruments held by the Group which expose the Group to foreign currency risk at the balance sheet date. The analysis excludes
differences that would result from the translation of the financial statements denominated in foreign currency. The analysis is
performed on the same basis for the previous year.
XI. The Disclosure of Fair Value
1. Ending Fair Value of Assets and Liabilities at Fair Value
Unit: RMB
Ending fair value
Item Level 1 Fair value Level 2 Fair value Level 3 Fair value
Total
measurement measurement measurement
228
BOE Technology Group Co., Ltd. Interim Report 2021
I. Consistent fair value measurement -- -- -- --
----(I) Trading financial assets 0.00 0.00 3,261,079,527.00 3,261,079,527.00
1. Financial assets at fair value through profit
0.00 0.00 3,261,079,527.00 3,261,079,527.00
or loss
(1) Debt instruments investment 0.00 0.00 2,654,184,080.00 2,654,184,080.00
(2) Equity instruments investment 0.00 0.00 606,895,447.00 606,895,447.00
(3) Derivative financial assets 0.00 0.00 0.00 0.00
2. Financial assets assigned measured by fair
value and the changes be included in the 0.00 0.00 0.00 0.00
current gains and losses
(1) Debt instruments investment 0.00 0.00 0.00 0.00
(2) Equity instruments investment 0.00 0.00 0.00 0.00
(II) Investment in other debt obligations 0.00 0.00 0.00 0.00
(III) Other equity instrument investment 190,674,763.00 0.00 352,842,716.00 543,517,479.00
(IV) Investment property 0.00 0.00 0.00 0.00
1. Lease the land use right 0.00 0.00 0.00 0.00
2. Rental buildings 0.00 0.00 0.00 0.00
3. Land use right held and prepared to transfer
0.00 0.00 0.00 0.00
after appreciation
(V)Biological assets 0.00 0.00 0.00 0.00
1.Consumable biological assets 0.00 0.00 0.00 0.00
2. Productive living assets 0.00 0.00 0.00 0.00
Total assets measured at fair value on a
0.00 0.00 0.00 0.00
recurring basis
(VI)Trading financial liabilities 0.00 0.00 0.00 0.00
Of which: Tradable bond issued 0.00 0.00 0.00 0.00
Derivative financial liabilities 0.00 0.00 0.00 0.00
Others 0.00 0.00 0.00 0.00
(VII) Refer as financial liabilities measured
by fair value and the changes included in the 0.00 0.00 0.00 0.00
current gains and losses
Total liabilities of consistent fair value
0.00 0.00 0.00 0.00
measurement
II. Inconsistent fair value measurement -- -- -- --
----(I) Assets held for sale 0.00 0.00 0.00 0.00
Total assets inconsistently measured at fair 0.00 0.00 0.00 0.00
229
BOE Technology Group Co., Ltd. Interim Report 2021
value
Total liabilities inconsistently measured at fair
0.00 0.00 0.00 0.00
value
2. Basis of Determining the Market Price for Recurring and Non-recurring Fair Value Measurements
Categorized within Level 1
The unadjusted offer in active market obtaining same assets or liabilities on the calculation date.
3. Consistent and Inconsistent Fair Value Measurement Items at Level 2, Valuation Techniques Adopted,
the Qualitative and Quantitative Information of Important Parameters
Observable input value of related assets or liabilities except level 1 input value.
4. Consistent and Inconsistent Fair Value Measurement Items at Level 3, Valuation Techniques Adopted,
the Qualitative and Quantitative Information of Important Parameters
The unobservable input value of related assets or liabilities.
5. Consistent Fair Value Measurement Items at Level 3, Adjustment between the Beginning Carrying
Value and the Ending Carrying Value and Sensitivity Analysis on Unobservable Parameters
N/A
6. Explain the Reason for Conversion and the Policy Governing when the Conversion Happens if
Conversion Happens among Consistent Fair Value Measurement Items at Different Level
N/A
7. Changes in Valuation Techniques in the Reporting Period and Reasons for the Changes
N/A
8. Fair Value of Financial Assets and Liabilities Not Measured at Fair Value
N/A
9. Other
N/A
230
BOE Technology Group Co., Ltd. Interim Report 2021
XII. Connected Party and Connected Transaction
1. Information on the Company as the Parent
Proportion of Proportion of
share held by voting rights
the Company as owned by the
Company name Registered place Business nature Registered capital
the parent Company as the
against the parent against the
Company (%) Company (%)
Operation and
Beijing No. 12, Jiuxianqiao management of
Electronics Road, Chaoyang state-owned assets RMB3,139,210,000.00 0.79% 17.68%
Holding Co., Ltd. District, Beijing within authorization,
etc.
Notes to the Company as the parent:
N/A
The final controller of the Company is Beijing Electronics Holding Co., Ltd.
Other notes:
N/A
2. Subsidiaries of the Company
Refer to Note IX.-1 for details.
3. Information on the Joint Ventures and Associated Enterprises of the Company
For information of significant joint ventures or associated enterprises of the Company, please refer to Note IX-3.
List of other joint ventures and associated enterprises that made connected transactions with the Company generating balance during
or before the Reporting Period:
Name Relationship with the Company
Beijing Nissin Electronics Precision Component Co., Ltd. Associate of the Group and the Company
Beijing Nittan Electronic Co., Ltd. Associate of the Group and the Company
Beijing Xindongneng Investment Management Co., Ltd. Associate of the Group and the Company
TPV Display Technology (China) Limited Associate of the Group and the Company
Hunan BOE Yiyun Science & Technology Co., Ltd. Associate of the Group and the Company
Beijing Zhonglianhe Ultra HD Collaborative Technology Centre Associate of the Group
Co., Ltd.
BioChain (Beijing) Science & Technology, Inc. Associate of the Group
BOE Houji Technology (Beijing) Co., Ltd. Associate of the Group
231
BOE Technology Group Co., Ltd. Interim Report 2021
Changzhou Xiruojia Medical Technology Co., Ltd. Subsidiary of associate of the Group
Other notes:
N/A
4. Information on Other Related Parties
Name of other related parties Relationship with the Company
Beijing BOE Investment Development Co., Ltd. Under the same control of the ultimate holding company
Beijing NAURA Microelectronics Equipment Co., Ltd. Under the same control of the ultimate holding company
Sevenstar Semiconductor Technologies Co., Ltd. Under the same control of the ultimate holding company
Beijing Zhaowei Technology Development Co., Ltd. Under the same control of the ultimate holding company
Beijing C&W Intelligent Equipment Co., Ltd. Under the same control of the ultimate holding company
Beijing Dongdian Industrial Development Co., Ltd. Under the same control of the ultimate holding company
Beijing Zhengdong Electronic Power Group Co., Ltd. Under the same control of the ultimate holding company
Beijing Yansong Economic and Trade Co., Ltd. Under the same control of the ultimate holding company
Beijing Ether Electronics Group Co., Ltd. Under the same control of the ultimate holding company
Beijing Electronics Holding & SK Technology Co., Ltd. Under the same control of the ultimate holding company
Beidian Aisite (Jiangsu) Technology Co., Ltd. Under the same control of the ultimate holding company
Beijing Zhaowei Electronics (Group) Co., Ltd. Under the same control of the ultimate holding company
761 Workshop (Beijing) Technology Development Co., Ltd. Under the same control of the ultimate holding company
Beijing Electric Control Industry Investment Co., Ltd. Under the same control of the ultimate holding company
Xin Xiang Microelectronic (Hong Kong) Co., Ltd. Associate of enterprise that is under the same control of the
ultimate holding company
Beijing Senju Electronic Materials Co., Ltd. Associate of enterprise that is under the same control of the
ultimate holding company
Beijing Asahi Electronic Materials Co., Ltd. Others
Beijing Yizhuang Water Co., Ltd. Others
China Minsheng Banking Corporation Limited Others
Other notes:
N/A
5. Transactions with Related Parties
(1) Information on Acquisition of Goods and Reception of Labor Service
Information on acquisition of goods and reception of labor service
Unit: RMB
232
BOE Technology Group Co., Ltd. Interim Report 2021
Whether
Nature of The approval trade Same period of
Name of related party Reporting Period exceed trade
transaction credit last year
credit or not
Beijing Electronics Holding Co., Ltd and its Purchase of
266,829,360.00 647,000,000.00 No 74,502,480.00
affiliated companies goods
Beijing Electronics Holding Co., Ltd and its Receiving of
1,522,372.00 45,000,000.00 No 1,836,188.00
affiliated companies services
Purchase of
Other related parties 129,714,767.00 380,200,000.00 No 202,163,441.00
goods
Receiving of
Other related parties 1,328,899.00 10,100,000.00 No 1,570,667.00
services
Information of sales of goods and provision of labor service
Unit: RMB
Same period of last
Name of related party Nature of transaction Reporting Period
year
Beijing Electronics Holding Co., Ltd and its
Sale of goods 5,234,597.00 75,050.00
affiliated companies
Beijing Electronics Holding Co., Ltd and its
Rendering of services 3,739,611.00 1,863,450.00
affiliated companies
Other related parties Sale of goods 126,028,273.00 16,211,639.00
Other related parties Rendering of services 264,969.00 27,043.00
Explanation of Information on Acquisition of Goods and Reception of Labor Service
N/A
(2) Connected Trusteeship/Contract and Entrust/Contractee
Lists of connected trusteeship/contract:
Unit: RMB
Name of the Name of the Income
entruster/contract entrustee/ Type Start date Due date Pricing basis recognized in the
ee contractor Reporting Period
N/A
Notes to connected trusteeship/contract
N/A
Lists of entrust/contractee
Unit: RMB
Name of the Name of the Income
entruster/contract entrustee/ Type Start date Due date Pricing basis recognized in the
ee contractor Reporting Period
233
BOE Technology Group Co., Ltd. Interim Report 2021
N/A
Notes to entrust/contractee
N/A
(3) Information on Connected Lease
The Company served as the lessor:
Unit: RMB
The lease income confirmed in The lease income confirmed in
Name of lessee Type of assets leased
the Reporting Period the same period of last year
Beijing Electronics Holding
Co., Ltd and its affiliated Investment properties 102,491.00 87,545.00
companies
Other related parties Investment properties 573,156.00 474,771.00
The Company served as the lessee:
Unit: RMB
The lease income confirmed in The lease income confirmed in
Name of lessor Type of assets leased
the Reporting Period the Same period of last year
Beijing Electronics Holding
Co., Ltd and its affiliated Fixed assets 1,402,644.00 1,471,272.00
companies
Notes to connected lease
N/A
(4) Connected Guarantee
The Company served as the guarantee
Unit: RMB
Whether completely
Secured party Amount Start date Due date
performed
N/A
The Company served as the secured party
Unit: RMB
Whether completely
Guarantee Amount Start date Due date
performed
N/A
Notes to connected guarantee
N/A
234
BOE Technology Group Co., Ltd. Interim Report 2021
(5) Interbank Borrowing and Lending of Capital by Connected Party
Unit: RMB
Name of related party Amount of funding Inception date Maturity date Note
Funds received
N/A
Funds provided
N/A
(6) Assets Transfer and Debt Restructuring of Connected Party
Unit: RMB
Name of related party Nature of transaction Reporting Period Same period of last year
N/A
(7) Remuneration for Key Management Personnel
Unit: RMB
Item Reporting Period Same period of last year
Remuneration of key management 69,055,577.00 25,527,806.00
personnel
(8) Other Connected Transactions
N/A
6. Receivables from and Payables to Related Parties
(1) Accounts Receivable
Unit: RMB
Ending balance Beginning balance
Item Name of related party Provision for Provision for
Book value Book value
impairment impairment
Accounts Beijing Electronics Holding Co., Ltd and its
156,608.00 0.00 78,138.00 0.00
receivable affiliated companies
Other Beijing Electronics Holding Co., Ltd and its
1,314,079.00 0.00 1,108,034.00 0.00
receivables affiliated companies
Beijing Electronics Holding Co., Ltd and its
Prepayments 902,006.00 0.00 840,736.00 0.00
affiliated companies
235
BOE Technology Group Co., Ltd. Interim Report 2021
Accounts 66,413,634.00
Other related parties 0.00 6,900,349.00 0.00
receivable
Other 1,907,616.00
Other related parties 0.00 5,674,947.00 0.00
receivables
Prepayments Other related parties 6,090,493.00 0.00 8,712,791.00 0.00
Contract assets Other related parties 693,124.00 0.00 0.00 0.00
(2) Accounts Payable
Unit: RMB
Beginning carrying
Item Name of related party Ending carrying balance
balance
Beijing Electronics Holding Co., Ltd and its
Accounts payable 51,082,252.00 39,136,061.00
affiliated companies
Beijing Electronics Holding Co., Ltd and its
Other payables 188,790,712.00 137,685,259.00
affiliated companies
Beijing Electronics Holding Co., Ltd and its
Advance payments received 0.00 12,815.00
affiliated companies
Beijing Electronics Holding Co., Ltd and its
Contract liabilities 84,120.00 0.00
affiliated companies
Accounts payable Other related parties 100,340,520.00 70,597,799.00
Other payables Other related parties 11,898,926.00 174,048.00
Advance payments received Other related parties 6,118,783.00 71,155.00
Contract liabilities Other related parties 695,930.00 270,612.00
7. Commitments of the Related Parties
Item 2021 2020
Procurement of equipment 182,785,156.00 122,293,128.00
8. Other
N/A
236
BOE Technology Group Co., Ltd. Interim Report 2021
XIII. Share-based Payments
1. Overview of Share-based Payments
√ Applicable □ Not applicable
Unit: RMB
The total amount of equity instruments granted to the Company during the
0.00
Reporting Period
The total amount of equity instruments exercised by the Company during
0.00
the Reporting Period
The total amount of equity instruments of the Company that expire during
0.00
the Reporting Period
Scope of the exercise price of outstanding stock options of the Company
--
at the end of the Reporting Period and remaining contract term
Scope of the exercise price of other outstanding equity instruments of the
--
Company at the end of the Reporting Period and remaining contract term
Other notes:
No new equity instruments were granted to the Company during the Reporting Period.
On 17 November 2020, the General Meeting of the Company approved the implementation of share options and restricted share
incentive plans since 2020. The shares for the share options and restricted share incentive plans are from the Company's Renminbi
A-share ordinary shares repurchased from the secondary market. Vesting plans of share options and restricted share incentive plans
are presented as follows:
(1) Share option incentive plan
The share option incentive plan is classified into initial grant and reserved grant. The initial grant date was 21 December 2020,
and the implementation was completed on 25 December 2020. The actual number of grantees was 1,988, with a number of grants of
596,229,700 shares; the number of reserved grants was 33,000,000 shares. The grant date, grant recipients, and implementation
completion date, etc. are to be confirmed.
The share options are exercised in three phases after 24 months from the grant date. The exercise ratios for each phase are 34%,
33%, and 33%, respectively. The corresponding exercise dates are 2 years, 3 years, and 4 years from the grant date.
The fair value of equity instruments at the grant date is determined based on the difference between the assessed fair value of the
exercisable share options at each grant date and the subscription price in RMB (RMB1.68/share, RMB1.93/share and RMB2.09/share,
respectively).
When the Company's performance meets the corresponding criteria, the proportion of exercisable rights of the above-mentioned
share options is determined based on the business performance of the incentive object's operation and the contribution value of the
incentive object. In accordance with the plan, the Company will deregister the current exercisable shares of the options obtained by
the incentive objects if the exercise criteria stipulated in this plan are not met.
(2) Restricted share incentive plan
The grant date of restricted share incentive plan was 21 December 2020, and the implementation was completed on 29
December 2020. The actual number of grantees was 793, with a number of grants of 321,813,800 share.
The lock-up periods of the restricted shares are 24, 36 and 48 months from the grant date. During the lock-up period, restricted
shares granted to the incentive object under this plan shall not be transferred, used for guarantee or debt repayment before the lock-up
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BOE Technology Group Co., Ltd. Interim Report 2021
release. Lock-up restricted shares are released in three phases after 24 months from the grant date. The release ratios for each phase
are 34%, 33%, and 33%, respectively. The corresponding release dates are 2 years, 3 years, and 4 years from the grant date. The
actual number released shall be based on the performance assessment result in the previous year.
The fair value of equity instruments at the grant date is determined based on the difference between the fair value of shares at
the grant date and the subscription price at RMB2.68/share.
When the Company's performance meets the corresponding criteria, the release proportion of the above-mentioned restricted
shares is determined based on the business performance of the incentive object's operation and the contribution value of the incentive
object. The Company will repurchase the locked restricted shares at the granted price of the incentive objects if the release criteria
stipulated in this plan are not met, and the incentive object shall not release the restricted shares for the current period.
2. Equity-settled Share-based Payments
√ Applicable □ Not applicable
Unit: RMB
Share option: The fair value of equity instruments at the grant date is determined based on
the difference between the assessed fair value of the exercisable share options at each
Method for determining the fair value of grant date and the subscription price in RMB (RMB1.68/share, RMB1.93/share and
equity instruments at the grant date RMB2.09/share, respectively). Restricted shares: The fair value of equity instruments at
the grant date is determined based on the difference between the fair value of shares at the
grant date and the subscription price at RMB2.68/share.
At each balance sheet date during the vesting period, the best estimation is made
according to the latest information, such as the number of employees who are granted
Basis of determining the number of
options and the completion of performance indicators, and the number of equity
equity instruments expected to vest
instruments expected to vest is revised accordingly. On the vesting date, the estimated
number is equal to the number of equity instruments that are ultimately vested.
Causes for material difference between
the current estimate and the previous N/A
estimate
Payment of the cumulative amount
included in capital reserves with 304,279,820.00
equity-settled shares
Total costs recognized by equity-settled
share-based payment in the Reporting 291,568,623.00
Period
Other notes:
N/A
3. Cash-settled Share-based Payments
□ Applicable √ Not applicable
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4. Modification and Termination of Share-based Payments
N/A
5. Others
N/A
XIV Commitments and Contingency
1. Significant commitments
Significant commitments on the balance sheet date
(1) Capital Commitments
The Group 30 June 2021 31 December 2020
Outward investment contract signed but not performed or 44,123,314,294.00 58,885,156,561.00
not performed fully
Outward investment contract authorized but contract not 75,392,343,393.00 74,192,859,943.00
signed
Total 119,515,657,687.00 133,078,016,504.00
(2) Operating Commitments
The Group 30 June 2021 31 December 2020
Within 1 year (including 1 year） 88,877,469.00 76,151,901.00
Over 1 year and within 2 years (including 2 years) 47,303,873.00 38,471,518.00
Over 2 years and within 3 years (including 3 years) 26,109,026.00 21,725,645.00
Over 3 years 27,013,084.00 33,043,339.00
Total 189,303,452.00 169,392,403.00
The Company 30 June 2021 31 December 2020
Outward investment contract signed but not performed or 35,155,612,052.00 39,391,365,336.00
not performed fully
Outward investment contract authorized but contract not 0.00 0.00
signed
Total 35,155,612,052.00 39,391,365,336.00
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BOE Technology Group Co., Ltd. Interim Report 2021
2. Contingency
(1) Significant Contingency on the Balance Sheet Date
N/A
(2) Explanations Should Also Be Given when there Was No Significant Contingency to Disclose
There was no significant contingency to disclose.
3. Other
N/A
XV Events after Balance Sheet Date
1. Significant Non-adjusted Events
Unit: RMB
Influence number to the
Reason of inability to estimate
Item Content financial position and operating
influence number
results
N/A
2. Profit Distribution
N/A
3. Sales Return
N/A
4. Notes to Other Events after Balance Sheet Date
In July 2021, with the approval document No. 2277 [2021] of the China Securities Regulatory Commission ("CSRC"), the Company
issued 3,650,377,019 RMB ordinary shares to specific investors through private placements at the face value of RMB1/share and
issue price of RMB5.57/share, raising RMB20,332,599,995.83 in total. The net amount of funds actually raised through this
non-public offering was RMB19,869,507,400.00 after deducting issuance expenses of RMB463,092,595.83 (excluding VAT)
including underwriting and sponsoring fees, audit, and capital verification expenses which totaled RMB463,092,595.83. The
availability of the above funds has been verified by KPMG Huazhen LLP (Special General Partnership), which issued the Capital
Verification Report on Non-public Offering of RMB Ordinary Shares by BOE Technology Group Co., Ltd. (B.M.W.H.ZH.Y.Z.
No.2100934).
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BOE Technology Group Co., Ltd. Interim Report 2021
XVI Other Significant Events
1. Correction of Accounting Errors in Previous Period
(1) Retrospective Restatement
Unit: RMB
Name of the report item of each
Correction of accounting errors Processing program Cumulative impact
comparison period impacted
N/A
(2) Prospective Application
Reasons for adopting the prospective
Correction of accounting errors Approval procedure
application
N/A
2. Debt Restructuring
N/A
3. Assets Replacement
(1) Replacement of Non-monetary Assets
N/A
(2) Replacement of Other Assets
N/A
4. Pension Plans
In order to ensure and improve the living standards of BOE retirees and put in place a multi-layer old-age security system and a
long-term talent retaining mechanism, as per China’s relevant policies and regulations, BOE has established the annuity programme
since January 2014. The annuity fund consists of the contributions by the Company (paid as per the government’s regulations
according to the applicable taxation policy), the contributions by employees (deducted by the Company from their salaries according
to the applicable taxation policy) and the returns on investment by the fund (operated by the relevant government department
according to the investment principle of high security and moderate income).
5. Discontinued Operations
Unit: RMB
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BOE Technology Group Co., Ltd. Interim Report 2021
Profit of
discontinued
Profit before Income tax operations
Item Income Expense Net profit
taxation expenses attributable to
owners of the
parent company
N/A
Other notes: N/A
6. Segment Information
(1) Recognition Basis and Accounting Policies of Reportable Segment
The Group management reviews the operation performance and allocates resources according to the business segments below.
(a) Display business—Display business offers TFT-LCD, AMOLED, Microdisplay and other intelligent interface devices designed and
manufactured in an integrated way, to create an integrated platform of panels, modules, whole products and services. Display business
provides customers with high-quality display devices such as smartphones, tablet PCs, laptops, monitors, TVs, vehicle-mounted,
electronic shelf label (ESL), tiled display screens, industrial control, wearable devices, VR/AR devices, electronic tags, white goods,
healthcare, mobile payment, and interactive whiteboards, as well as the most competitive intelligent services in 3C display, smart IoT,
system platform, and other fields.
(b) Smart systems innovation business — The smart systems innovation business integrates designs of system solutions. Supported by
AI and big data technologies, the Smart System Innovation BG focuses on software-hardware-integrated products and services and
offers integrated IoT solutions of smart governments, smart cities, smart transportation, smart finance, smart education, smart industrial
parks and smart energy.
(c) Smart medicine and engineering business — The smart medicine and engineering business adopts the professional healthcare
service model to combine technologies with medicine and integrate medicine and engineering with innovation, so as to provide families,
communities and hospitals with the four core services of health management, health technology, digital hospital, and technology
services. The health IoT platform connects testing equipment, medical workers and customers to build a smart health management
ecosystem where customers enjoy health services including prevention, treatment, therapy and nursing.
(d) Sensor and application solutions business — The sensor and application solutions business integrates design and manufacturing of
B2B system solutions. This business focuses on medical detection, household detection, communication and transportation, smart
homes and other fields to provide customers with integrated design and manufacturing services of sensor devices; besides, this business
provides sensor system solutions of medical imaging, biological detection, smart screens, microwave communication, fingerprint
identification and the like, with products including flat panel X-ray detectors (FPXD), digital microfluidic chips, PDLC glass,
fingerprint identification systems, etc.
(e) MLED business — The MLED business integrates design and manufacturing of devices and provides MLED backlight products
with strong reliability and high dynamic range that allow precisely brightness adjustment for smartphones, tablet PCs, laptops, monitors,
TVs and other products; besides, it provides MLED display products with high brightness, strong reliability and high dynamic range for
use in outdoor display, commercial display and other scenarios.
(f) Others — Other service mainly includes technical development service and patent maintenance service. The main reason to separate
the segments is that the Group independently manages display business, smart systems innovation business, smart medicine &
engineering integration business, sensor and application solutions business, MLED business, and other businesses. Because the
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BOE Technology Group Co., Ltd. Interim Report 2021
business segments manufacture and distribute different products, apply different manufacturing processes and specifies in gross profit,
the business segments are managed independently. The management evaluates the performance and allocates resources according to
the profit of each business segment and does not take financing cost and investment income into account
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BOE Technology Group Co., Ltd. Interim Report 2021
(2) The Financial Information of Reportable Segment
Unit: RMB
Smart medicine &
Smart systems engineering Sensor and application
Item Display business MLED business Others and offset Total
innovation business integration solutions business
business
Operating
104,673,381,879.00 710,847,862.00 863,981,458.00 273,171,561.00 79,166,852.00 684,777,414.00 107,285,327,026.00
income
Operating
72,756,787,082.00 560,197,945.00 572,687,964.00 256,255,419.00 55,296,538.00 -455,335,917.00 73,745,889,031.00
costs
(3) If There Was no Reportable Segment, or the Total Amount of Assets and Liabilities of Each Reportable Segment Could not Be Reported, Relevant
Reasons Shall Be Clearly Stated
The Company develops various businesses by using common assets and liabilities and therefore, it could not analyze assets and liabilities of each reportable segment respectively by business.
(4) Other Notes
N/A
7. Other Important Transactions and Matters Impacting Investors' Decision-making
N/A
8. Other
N/A
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BOE Technology Group Co., Ltd. Interim Report 2021
XVII Notes of Main Items in the Financial Statements of the Company as the Parent
1. Accounts Receivable
(1) Accounts Receivable Disclosed by Category
Unit: RMB
Ending balance Beginning balance
Book value Provision for impairment Book value Provision for impairment
Category Carrying Carrying
Withdrawal Withdrawal
Amount Percentage Amount amounts Amount Percentage Amount amounts
proportion proportion
Accounts receivable for which
bad debt provision accrued 5,038,758,439.00 99.99% 19,069,682.00 0.38% 5,019,688,757.00 3,993,801,591.00 99.98% 20,262,337.00 0.51% 3,973,539,254.00
separately
Of which:
Accounts receivable for which
bad debt provision accrued by 810,709.00 0.01% 46,566.00 5.74% 764,143.00 712,270.00 0.02% 39,216.00 5.51% 673,054.00
group
Of which:
Total 5,039,569,148.00 100.00% 19,116,248.00 0.38% 5,020,452,900.00 3,994,513,861.00 100.00% 20,301,553.00 0.51% 3,974,212,308.00
Bad debt provision withdrawn separately:
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BOE Technology Group Co., Ltd. Interim Report 2021
Unit: RMB
Ending balance
Name
Book value Provision for impairment Withdrawal proportion Reason for withdrawal
N/A
Bad debt provision withdrawn separately:
Unit: RMB
Ending balance
Name
Book value Provision for impairment Withdrawal proportion Reason for withdrawal
Bad debt provision accrued by group:
Unit: RMB
Ending balance
Name
Book value Provision for impairment Withdrawal proportion
Portfolio of credit risk 5,039,569,148.00 19,116,248.00 0.38%
Total 5,039,569,148.00 19,116,248.00 --
-Notes of the basis of recognizing the group:
Customer group Basis
Customers with high credit risk With special matters, litigations or the deterioration of customers’
credit status
Customers with low credit risk Banks, insurance companies, large state-owned enterprises and
public institutions
Customers with moderate credit risk Customers not included in Groups above
Bad debt provision accrued by group:
Unit: RMB
Ending balance
Name
Book value Provision for impairment Withdrawal proportion
N/A
Total
-Notes of the basis of recognizing the group:
Please refer to the relevant information of disclosure of bad debt provision of other accounts receivable if adopting the general mode
of expected credit loss to withdraw bad debt provision of notes receivable.
√ Applicable □ Not applicable
2021
Book value Provision for impairment
Category Amount Proportio Amount Proportio Carrying amounts
n (%) n (%)
246
BOE Technology Group Co., Ltd. Interim Report 2021
Bad debt
provision
withdrawn
separately
-Customers 4,330,476.00 0.09% 4,090,353.00 94.46% 240,123.00
with high
credit risk
Customers 5,034,427,963.00 99.90% 14,979,329.00 0.30% 5,019,448,634.00
with low
credit risk
Bad debt
provision
accrued by
group
-Customers 810,709.00 0.01% 46,566.00 5.74% 764,143.00
with
medium
credit risk
Total 5,039,569,148.00 100.00% 19,116,248.00 0.38% 5,020,452,900.00
Disclosed by aging
Unit: RMB
Ageing Ending balance
Within 1 year (including 1 year） 4,765,927,237.00
1 to 2 years 237,563,616.00
2 to 3 years 34,854,310.00
Over 3 years 1,223,985.00
3 to 4 years 0.00
4 to 5 years 0.00
More than 5 years 1,223,985.00
Total 5,039,569,148.00
(2) Bad Debt Provision Withdrawn, Reversed or Recovered in the Reporting Period
Information of withdrawal of bad debt provision:
Unit: RMB
Beginning Changes in the Reporting Period
Category Ending balance
balance Withdrawal Reversal or Write-off Others
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BOE Technology Group Co., Ltd. Interim Report 2021
recovery
Bad debt of 20,301,553.00 7,486.00 -136.00 -1,192,655.00 0.00 19,116,248.00
accounts
receivable
Total 20,301,553.00 7,486.00 -136.00 -1,192,655.00 0.00 19,116,248.00
Of which bad debt provision reversed or recovered with significant amount:
Unit: RMB
Subsidiary Amount reversed or recovered Way of recovery
N/A
N/A
(3) Accounts Receivable with Actual Verification during the Reporting Period
Unit: RMB
Item Amount verified
N/A
Of which the verification of significant accounts receivable:
Unit: RMB
Verification Whether generated
Reason for
Subsidiary Nature Amount verified procedures from connected
verification
performed transactions
N/A
Notes:
N/A
(4) Top 5 Accounts Receivable in Ending Balance Collected according to the Arrears Party
Unit: RMB
Ending balance of accounts Proportion to the total ending Ending balance of bad debt
Subsidiary
receivable balance of accounts receivable provisions
Sum of top 5 accounts
4,586,279,497.00 91.01% 0.00
receivable
Total 4,586,279,497.00 91.01%
(5) Accounts Receivable Derecognized Due to the Transfer of Financial Assets
N/A
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BOE Technology Group Co., Ltd. Interim Report 2021
(6) The Amount of the Assets and Liabilities Formed by the Transfer and the Continued Involvement of
Accounts Receivable
N/A
Other notes:
N/A
2. Other Accounts Receivable
Unit: RMB
Item Ending balance Beginning balance
Interest receivable 0.00 0.00
Dividends receivable 60,055,861.00 460,261,502.00
Other receivables 15,671,575,897.00 15,885,213,081.00
Total 15,731,631,758.00 16,345,474,583.00
(1) Interest Receivable
1) Category of Interest Receivable
Unit: RMB
Item Ending balance Beginning balance
Fixed time deposit 0.00 0.00
Entrusted loan 0.00 0.00
Bond investment 0.00 0.00
Total 0.00 0.00
2) Significant Overdue Interest
Whether occurred
Borrower Ending balance Overdue time Reason impairment and its
judgment basis
N/A
Other notes:
N/A
3) Withdrawal of Bad Debt Provision
□ Applicable √ Not applicable
249
BOE Technology Group Co., Ltd. Interim Report 2021
(2) Dividend Receivable
1) Category of Dividend Receivable
Unit: RMB
Item(or investee) Ending balance Beginning balance
BeijingMatsushita Color CRT Co., Ltd.
52,294,259.00 52,294,259.00
(BMCC)
BOE (Korea) Co., Ltd. 5,836,980.00 6,125,106.00
Chongqing BOE Optoelectronics Technology
0.00 400,000,000.00
Co., Ltd.
Beijing Electronic Zone High-tech Group Co.,
1,924,622.00 1,842,137.00
Ltd.
Total 60,055,861.00 460,261,502.00
2) Significant Dividend Receivable Aging over One Year
Unit: RMB
Unrecovered Whether occurred impairment
Item(or investee) Ending balance Ageing
reason and its judgment basis
N/A
Total
3) Withdrawal of Bad Debt Provision
□ Applicable √ Not applicable
Other notes: N/A
(3) Other Accounts Receivable
1) Other Account Receivable Classified by Account Nature
Unit: RMB
Nature of other receivables Ending carrying balance Beginning carrying balance
Transaction amount 15,484,143,336.00 15,844,170,864.00
Others 239,111,648.00 90,981,869.00
Total 15,723,254,984.00 15,935,152,733.00
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BOE Technology Group Co., Ltd. Interim Report 2021
2) Withdrawal of Bad Debt Provision
Unit: RMB
Phase I Phase II Phase III
Expected credit losses
Expected credit losses for
Provision for impairment Expected credit losses in for the whole existence Total
the whole existence period
the next 12 months period (no credit
(with credit impairment)
impairment)
Balance of 1 January 2021 0.00 0.00 49,939,652.00 49,939,652.00
Balance of 1 January 2021 in the
—— —— —— ——
current period
--Transferred to the Phase II 0.00 0.00 0.00 0.00
-Transfer to Third stage 0.00 0.00 0.00 0.00
-Reverse to Second stage 0.00 0.00 0.00 0.00
-Reverse to First stage 0.00 0.00 0.00 0.00
Withdrawal of the current period 0.00 0.00 1,739,435.00 1,739,435.00
Reversal of the current period 0.00 0.00 0.00 0.00
Write-offs of the current period 0.00 0.00 0.00 0.00
Verification of the current period 0.00 0.00 0.00 0.00
Other changes 0.00 0.00 0.00 0.00
Balance of 30 June 2021 0.00 0.00 51,679,087.00 51,679,087.00
Changes of carrying amount with significant amount changed of loss provision in the current period
□ Applicable √ Not applicable
Disclosed by aging
Unit: RMB
Ageing Ending balance
Within 1 year (including 1 year） 10,596,317,268.00
1 to 2 years 5,021,719,335.00
2 to 3 years 47,500,949.00
Over 3 years 57,717,432.00
3 to 4 years 6,928,384.00
4 to 5 years 9,329,305.00
More than 5 years 41,459,743.00
Total 15,723,254,984.00
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BOE Technology Group Co., Ltd. Interim Report 2021
3) Bad Debt Provision Withdrawn, Reversed or Recovered in the Reporting Period
Information of withdrawal of bad debt provision:
Unit: RMB
Changes in the Reporting Period
Category Beginning balance Reversal or Ending balance
Withdrawal Write-off Others
recovery
Bad debt provisions for
49,939,652.00 1,739,435.00 0.00 0.00 0.00 51,679,087.00
other receivables
Total 49,939,652.00 1,739,435.00 0.00 0.00 0.00 51,679,087.00
N/A
Of which bad debt provision reversed or recovered with significant amount:
Unit: RMB
Subsidiary Amount reversed or recovered Way of recovery
N/A
N/A
4) Other Accounts Receivable with Actual Verification during the Reporting Period
Unit: RMB
Item Amount verified
N/A
Of which the verification of significant other accounts receivable:
Unit: RMB
Verification Whether generated
Reason for
Subsidiary Nature Amount verified procedures from connected
verification
performed transactions
N/A
Notes of verification of other receivables:
N/A
5) Top 5 Other Accounts Receivable in Ending Balance Collected according to the Arrears Party
Unit: RMB
Proportion to the Ending balance
Subsidiary Nature Ending balance Ageing total ending balance of bad debt
of other receivables provisions
Transaction Within 1 year, 1 to 2 years, 2 to 3
Customer A 5,160,796,365.00 32.81% 0.00
amount years, 3 to 4 fours, and more than 5
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BOE Technology Group Co., Ltd. Interim Report 2021
years
Transaction
Customer B 3,246,960,246.00 Within 1 year and 1 to 2 years 20.64% 0.00
amount
Transaction Within 1 year, 1 to 2 years, and 2 to
Customer C 2,100,738,055.00 13.35% 0.00
amount 3 years
Transaction
Customer D 1,973,226,134.00 Within 1 year and 1 to 2 years 12.54% 0.00
amount
Transaction Within 1 year, 1 to 2 years, 2 to 3
Customer E 1,878,543,646.00 11.94% 0.00
amount years, and 3 to 4 fours
Total -- 14,360,264,446.00 -- 91.28% 0.00
6) Accounts Receivable Involving Government Grants
Unit: RMB
Project of government Estimated recovering
Subsidiary Ending balance Ending aging
grants time, amount and basis
N/A
7) Other Accounts Receivable Derecognized Due to the Transfer of Financial Assets
N/A
8) Amount of Assets and Liabilities Due to the Transfer of Other Account Receivable and Continued
Involvement
N/A
Other notes:
N/A
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BOE Technology Group Co., Ltd. Interim Report 2021
3. Long-term Equity Investment
Unit: RMB
Ending balance Beginning balance
Item
Book value Provision for impairment Carrying amounts Book value Provision for impairment Carrying amounts
Investment to subsidiaries 192,210,766,946.00 92,000,000.00 192,118,766,946.00 179,426,966,866.00 92,000,000.00 179,334,966,866.00
Investment to joint
ventures and associated 2,432,896,678.00 0.00 2,432,896,678.00 2,800,090,342.00 0.00 2,800,090,342.00
enterprises
Total 194,643,663,624.00 92,000,000.00 194,551,663,624.00 182,227,057,208.00 92,000,000.00 182,135,057,208.00
(1) Investment to Subsidiaries
Unit: RMB
Increase/decrease Ending balance for
Beginning balance Ending balance
Investee Additional Reduced Impairment impairment
(carrying value) Others (carrying value)
investments investments provisions provisions
BOE Semi-conductor Co., Ltd. 9,450,000.00 0.00 0.00 0.00 0.00 9,450,000.00 0.00
Beijing Yinghe Century Co., Ltd. 333,275,229.00 0.00 0.00 0.00 4,280,334.00 337,555,563.00 0.00
Beijing BOE Land Co., Ltd. 7,752,973.00 0.00 0.00 0.00 386,970.00 8,139,943.00 0.00
BOE (Heibei) Mobile Display Technology Co.,
1,353,691,563.00 0.00 0.00 0.00 729,758.00 1,354,421,321.00 0.00
Ltd.
BOE Hyundai LCD (Beijing) Display
31,181,960.00 0.00 0.00 0.00 2,581,776.00 33,763,736.00 0.00
Technology Co., Ltd.
Beijing BOE Vacuum Electronics Co., Ltd. 19,258,410.00 0.00 0.00 0.00 151,374.00 19,409,784.00 0.00
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BOE Technology Group Co., Ltd. Interim Report 2021
Beijing BOE Vacuum Technology Co., Ltd. 0.00 0.00 0.00 0.00 0.00 0.00 32,000,000.00
Beijing BOE Optoelectronics Technology Co.,
4,172,973,427.00 0.00 0.00 0.00 12,336,288.00 4,185,309,715.00 0.00
Ltd.
Beijing Smart Aero Display Technology Co.,
40,113,695.00 0.00 0.00 0.00 2,046,510.00 42,160,205.00 60,000,000.00
Ltd.
BOE Optical Science and technology Co., Ltd. 659,042,674.00 0.00 0.00 0.00 1,453,644.00 660,496,318.00 0.00
Beijing BOE Marketing Co., Ltd. 30,513,199.00 0.00 0.00 0.00 237,588.00 30,750,787.00 0.00
Chengdu BOE Optoelectronics Technology Co.,
25,004,494,319.00 0.00 0.00 0.00 24,198,030.00 25,028,692,349.00 0.00
Ltd.
BOE (Korea) Co., Ltd. 873,317.00 0.00 0.00 0.00 1,527,638.00 2,400,955.00 0.00
BOE Optoelectronics Holdings Co., Ltd. 3,211,961,538.00 0.00 0.00 0.00 0.00 3,211,961,538.00 0.00
Beijing BOE Display Technology Co., Ltd. 17,421,341,981.00 0.00 0.00 0.00 47,310,882.00 17,468,652,863.00 0.00
Beijing BOE Energy Technology Co., Ltd. 850,110,069.00 0.00 0.00 0.00 1,981,242.00 852,091,311.00 0.00
Beijing BOE Multimedia Technology Co., Ltd. 400,000,000.00 0.00 0.00 0.00 0.00 400,000,000.00 0.00
Hefei BOE Optoelectronics Technology Co.,
9,000,846,416.00 0.00 0.00 0.00 15,235,488.00 9,016,081,904.00 0.00
Ltd.
BeijingMatsushita Color CRT Co., Ltd. 64,903.00 0.00 0.00 0.00 1,168,200.00 1,233,103.00 0.00
Beijing BOE Video Technology Co., Ltd.
4,093,536,288.00 0.00 0.00 0.00 653,196.00 4,094,189,484.00 0.00
(“BOE Video”)
Beijing BOE Life Technology Co., Ltd. 10,000,000.00 0.00 0.00 0.00 0.00 10,000,000.00 0.00
Beijing Zhongxiangying Technologies Co., Ltd. 50,014,864.00 0.00 0.00 0.00 267,552.00 50,282,416.00 0.00
Ordos Yuansheng Optoelectronics Co., Ltd. 11,804,123,592.00 0.00 0.00 0.00 2,224,656.00 11,806,348,248.00 0.00
Hefei Xinsheng Optoelectronics Technology
20,084,018,610.00 0.00 0.00 0.00 18,709,254.00 20,102,727,864.00 0.00
Co., Ltd.
Chongqing BOE Optoelectronics Technology 19,565,866,421.00 0.00 0.00 0.00 9,212,790.00 19,575,079,211.00 0.00
255
BOE Technology Group Co., Ltd. Interim Report 2021
Co., Ltd.
Hefei BOE Display Technology Co., Ltd. 1,999,338,939.00 0.00 0.00 0.00 10,324,710.00 2,009,663,649.00 0.00
Fuzhou BOE Optoelectronics Technology Co.,
14,300,602,919.00 150,000,000.00 0.00 0.00 10,095,108.00 14,460,698,027.00 0.00
Ltd.
BOE Healthcare Investment & Management
6,093,167,584.00 480,000,000.00 0.00 0.00 243,252.00 6,573,410,836.00 0.00
Co., Ltd.
BOE Wisdom IOT Technology Co., Ltd.
142,344,796.00 0.00 142,000,000.00 0.00 6,206,322.00 6,551,118.00 0.00
(“Wisdom IOT Technology”)
Hefei BOE Zhuoyin Technology Co., Ltd. 600,066,764.00 0.00 0.00 0.00 1,201,800.00 601,268,564.00 0.00
Beijing BOE Technology Development Co.,
1,018,591.00 0.00 0.00 0.00 334,644.00 1,353,235.00 0.00
Ltd.
Yunnan Chuangshijie Optoelectronic
1,290,918,433.00 109,820,000.00 0.00 0.00 1,591,794.00 1,402,330,227.00 0.00
Technology Co., Ltd.
Beijing BOE Sensing Technology Co., Ltd. 50,348,624.00 41,000,000.00 0.00 0.00 6,275,334.00 97,623,958.00 0.00
Mianyang BOE Optoelectronics Technology
15,977,360,915.00 6,339,085,322.00 0.00 0.00 6,854,838.00 22,323,301,075.00 0.00
Co., Ltd.
Wuhan BOE Optoelectronics Co., Ltd. 5,998,882,896.00 0.00 0.00 0.00 5,982,846.00 6,004,865,742.00 0.00
Chongqing BOE Display Technology Co., Ltd. 3,958,981,997.00 2,085,566,000.00 0.00 0.00 3,431,220.00 6,047,979,217.00 0.00
Fuzhou BOE Display Technology Co., Ltd. 21,748,591.00 0.00 0.00 0.00 334,644.00 22,083,235.00 0.00
Hefei BOE Xingyu Technology Co., Ltd. 219,197,471.00 0.00 0.00 0.00 1,052,448.00 220,249,919.00 0.00
BOE Innovation Investment Co., Ltd. 440,000,000.00 757,000,000.00 0.00 0.00 0.00 1,197,000,000.00 0.00
BOE Education Technology Co., Ltd. 25,073,981.00 0.00 0.00 0.00 1,331,616.00 26,405,597.00 0.00
BOE Smart Technology Co., Ltd. 1,440,000,000.00 222,000,000.00 0.00 0.00 0.00 1,662,000,000.00 0.00
Nanjing BOE Display Technology Co., Ltd. 5,591,221,400.00 0.00 0.00 0.00 0.00 5,591,221,400.00 0.00
Chengdu CEC Panda Display Technology Co., 3,020,000,000.00 2,265,000,000.00 0.00 0.00 0.00 5,285,000,000.00 0.00
256
BOE Technology Group Co., Ltd. Interim Report 2021
Ltd.
Oriental Chengqi (Beijing) Business
8,000,000.00 0.00 0.00 0.00 0.00 8,000,000.00 0.00
Technology Co., Ltd.
BOE Jingxin Technology Co., Ltd. 0.00 235,000,000.00 0.00 0.00 0.00 235,000,000.00 0.00
Others 2,187,517.00 0.00 0.00 0.00 39,375,012.00 41,562,529.00 0.00
Total 179,334,966,866.00 12,684,471,322.00 142,000,000.00 0.00 241,328,758.00 192,118,766,946.00 92,000,000.00
All the others are the equityincentive payments used to pay to the sub-subsidiaries of each subsidiary ofthe BOE Group.
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BOE Technology Group Co., Ltd. Interim Report 2021
(2) Investment to Joint Ventures and Associated Enterprises
Unit: RMB
Increase/decrease
Profit and loss on Ending
Beginning Adjustment of Declared
investments Ending balance balance for
The investor balance (carrying Additional Reduced other Other equity distribution of Impairment
confirmed Others (carrying value) impairment
value) investments investments comprehensive movements cash dividends provisions
according to provisions
income or profits
equity law
I. Joint ventures
N/A
II. Associated enterprises
Beijing Nissin
Electronics
Precision 263,858.00 0.00 0.00 938,625.00 0.00 0.00 0.00 0.00 0.00 1,202,483.00 0.00
Component Co.,
Ltd.
Beijing Nittan
Electronic Co., 71,396,821.00 0.00 0.00 4,753,636.00 0.00 0.00 0.00 0.00 0.00 76,150,457.00 0.00
Ltd.
Beijing Infi-Hailin
Venture
1,166,524.00 0.00 0.00 -830,360.00 0.00 0.00 0.00 0.00 0.00 336,164.00 0.00
Investment Co.,
Ltd.
Erdos BOE
Energy 8,163,137.00 0.00 0.00 -332,005.00 0.00 0.00 0.00 0.00 0.00 7,831,132.00 0.00
Investment Co.,
258
BOE Technology Group Co., Ltd. Interim Report 2021
Ltd.
Beijing Fly Hailin
Investment Center 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
(LLP)
TPV Display
Technology 24,828,264.00 0.00 0.00 2,014,621.00 0.00 0.00 0.00 0.00 0.00 26,842,885.00 0.00
(China) Limited
Beijing
XindongNeng
2,058,142,325.00 0.00 319,214,968.00 6,750,375.00 -66,822,001.00 0.00 -2,000,000.00 0.00 0.00 1,676,855,731.00 0.00
Investment Fund
(LLP)
Beijing
Xindongneng
Investment 7,921,626.00 0.00 0.00 1,852,544.00 0.00 0.00 0.00 0.00 0.00 9,774,170.00 0.00
Management Co.,
Ltd.
Shenzhen
Yunyinggu
21,910,887.00 0.00 0.00 -3,337,280.00 -134,514.00 1,152,357.00 0.00 0.00 0.00 19,591,450.00 0.00
Technology Co.,
Ltd.
Beijing Xloong
Technologies Co., 19,766,940.00 0.00 0.00 123,032.00 0.00 773,082.00 0.00 0.00 0.00 20,663,054.00 0.00
Ltd.
Beijing
Innovation
Industry 204,063,254.00 0.00 0.00 997,328.00 0.00 0.00 0.00 0.00 0.00 205,060,582.00 0.00
Investment Co.,
Ltd.
259
BOE Technology Group Co., Ltd. Interim Report 2021
Beijing Electric
Control Industry
200,283,114.00 0.00 0.00 809,487.00 2,642,278.00 0.00 0.00 0.00 0.00 203,734,879.00 0.00
Investment Co.,
Ltd.
Hunan BOE
Yiyun Science &
182,183,592.00 0.00 0.00 1,368,215.00 0.00 0.00 0.00 0.00 0.00 183,551,807.00 0.00
Technology Co.,
Ltd.
Guoke BOE
(Shanghai) Equity
Investment 0.00 2,571,400.00 0.00 -1,269,516.00 0.00 0.00 0.00 0.00 0.00 1,301,884.00 0.00
Management Co.,
Ltd.
Sub-total 2,800,090,342.00 2,571,400.00 319,214,968.00 13,838,702.00 -64,314,237.00 1,925,439.00 -2,000,000.00 0.00 0.00 2,432,896,678.00 0.00
Total 2,800,090,342.00 2,571,400.00 319,214,968.00 13,838,702.00 -64,314,237.00 1,925,439.00 -2,000,000.00 0.00 0.00 2,432,896,678.00 0.00
260
BOE Technology Group Co., Ltd. Interim Report 2021
(3) Other Notes
N/A
4. Operating Revenue and Cost of Sales
Unit: RMB
Reporting Period Same period of last year
Item
Income Cost Income Cost
Principal activities 3,046,433,371.00 3,174,980.00 1,279,370,090.00 4,782,548.00
Other operating activities 10,053,772.00 2,565,504.00 10,513,236.00 2,843,786.00
Total 3,056,487,143.00 5,740,484.00 1,289,883,326.00 7,626,334.00
Relevant information of revenue
Unit: RMB
Category of contracts Segment 1 Segment 2 Total
Types of products 0.00 0.00 0.00
Of which:
By operating places 0.00 0.00 0.00
Of which:
By types of market or
0.00 0.00 0.00
customers
Of which:
Types of contracts 0.00 0.00 0.00
Of which:
By the time of
0.00 0.00 0.00
transferring goods
Of which:
By contract term 0.00 0.00 0.00
Of which:
By marketing channel 0.00 0.00 0.00
Of which:
Total 0.00 0.00 0.00
Information related to performance obligations:
Generally, the Group undertakes the contract performance obligations of providing customers with commodity sales and services.
For commodity sales obligation, if sales return terms are provided, the recognition of revenue should be capped at the cumulative
recognized revenue that will probably not be reversed; for contract performance obligation fulfilled in a time period, the revenue
should be recognized according to the progress towards contract completion; for quality assurance provided for customers, as it is
generally guaranteed quality assurance, it is not treated as an individual contract performance obligation.
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BOE Technology Group Co., Ltd. Interim Report 2021
Information related to transaction value assigned to residual performance obligations:
The amount of revenue corresponding to performance obligations of contracts signed but not performed or not fully performed yet
was RMB0.00 at the period-end, among which RMB0.00 was expected to be recognized in 0 year, RMB0.00 in 0 year and RMB0.00
in 0 year.
Other notes:
N/A
5. Investment Income
Unit: RMB
Same period of last
Item Reporting Period
year
Income from long-term equity investments accounted for using cost method 1,680,000,000.00 850,000,000.00
Income from long-term equity investments accounted for using equity
13,838,703.00 -11,034,399.00
method
Investment income from disposal of long-term equity investments 0.00 0.00
Investment income arising from holding of trading financial assets 0.00 0.00
Investment income from disposal of financial assets held for trading 0.00 0.00
Dividend income received from holding of other equity instrument
3,554,579.00 1,842,132.00
investment
Gain from remeasurement of remaining equity interests to fair value upon the
0.00 0.00
loss of control
Interest income of investment in debt obligations during holding period 0.00 0.00
Interest income of investment in other debt obligations during holding period 0.00 0.00
Investment income from disposal of investment in other debt obligations 0.00 0.00
Total 1,697,393,282.00 840,807,733.00
6. Other
N/A
XVIII Supplementary Materials
1. Items and Amounts of Non-recurring Profit or Loss
√ Applicable □ Not applicable
Unit: RMB
Item Amount Note
Gains/losses on the disposal of non-current assets 147,769,658.00 N/A
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BOE Technology Group Co., Ltd. Interim Report 2021
Tax rebates, reductions and exemptions given with ultra vires approval or in lack of
0.00 N/A
official approval documents
Government subsidies charged to current profit or loss (exclusive of government
subsidies given in the Company’s ordinary course of business at fixed quotas or 1,125,750,664.00 N/A
amounts as per the government’s uniform standards)
Capital occupation charges on non-financial enterprises that are charged to current
0.00 N/A
profit or loss
Gain 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 0.00 N/A
fair value of identifiable net assets of investees when making investments
Gain or loss on non-monetary asset swaps 0.00 N/A
Gain or loss on assets entrusted to other entities for investment or management 0.00 N/A
Allowance for asset impairments due to acts of God such as natural disasters 0.00 N/A
Gain or loss on debt restructuring 0.00 N/A
Restructuring costs in staff arrangement, integration, etc. 0.00 N/A
Gain or loss on the over-fair value amount as a result of transactions with distinctly
0.00 N/A
unfair prices
Current profit or loss on subsidiaries obtained in business combinations involving
enterprises under common control from the period-beginning to combination dates, 0.00 N/A
net
Gain or loss on contingencies that do not arise in the Company’s ordinary course of
0.00 N/A
business
Gain or loss on fair-value changes in held-for-trading and derivative financial assets
and liabilities & income from disposal of held-for-trading and derivative financial
46,230,279.00 N/A
assets and liabilities and other investments in debt obligations (exclusive of the
effective portion of hedges that arise in the Company’s ordinary course of business)
Reversed portions of impairment allowances for accounts receivable and contract
12,706,456.00 N/A
assets which are tested individually for impairment
Gain or loss on loan entrustments 0.00 N/A
Gain or loss on fair-value changes in investment property of which subsequent
0.00 N/A
measurement is carried out using the fair value method
Effects of all adjustments required by taxation, accounting and other applicable laws
0.00 N/A
and regulations on current profit or loss
Income from charges on entrusted management 0.00 N/A
Other non-operating income and expenses besides items above 28,677,012.00 N/A
Other items qualified as extraordinary gain and loss 0.00 N/A
Less: Income tax effects 124,486,027.00 N/A
Non-controlling interests effects 136,239,846.00 N/A
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BOE Technology Group Co., Ltd. Interim Report 2021
Total 1,100,408,196.00 --
Explain the reasons if the Company classifies an item as an extraordinary gain/loss according to the definition in the Explanatory
Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Non-recurring Profit or
Loss, or classifies any extraordinary gain/loss item mentioned in the said explanatory announcement as a recurrent gain/loss item.
□ Applicable √ Not applicable
2. Return on Equity and Earnings Per Share
EPS (Yuan/share)
Weighted average
Profit as of Reporting Period Basic earnings per share Diluted earnings per
return on net assets
(RMB/share) share (RMB/share)
Net profit attributable to the Company’s ordinary equity
13.40% 0.363 0.363
shareholders
Net profit excluding extraordinary gain and loss
attributable to the Company’s ordinary equity 12.22% 0.331 0.331
shareholders
3. Other
N/A
264
