FIRST QUARTERLY REPORT 2022
April 2022
BOE Technology Group Co., Ltd. First Quarterly Report 2022
Stock Code: 000725 Stock Name: BOE-A Announcement No. 2022-039
Stock Code: 200725 Stock Name: BOE-B Announcement No. 2022-039
BOE TECHNOLOGY GROUP CO., LTD.
FIRST QUARTERLY REPORT 2022
BOE Technology Group Co., Ltd. (hereinafter referred to as the “Company”) and all the
members of the Company’s Board of Directors hereby guarantee that the contents of this
Report are true, accurate and complete and free of any misrepresentations, misleading
statements or material omissions.
Important Notes:
The Board of Directors (or the “Board”), the Supervisory Committee as well as the directors, supervisors and
senior management of BOE Technology Group Co., Ltd. (hereinafter referred to as the “Company”) hereby
guarantee the factuality, accuracy and completeness of the contents of this Report and its summary, and shall
be jointly and severally liable for any misrepresentations, misleading statements or material omissions therein.
All the Company’s directors have attended the Board meeting for the review of this Report and its summary.
Mr. Chen Yanshun, the Company’s legal representative, Mr. Liu Xiaodong, President of the Company, Ms.
Sun Yun, the Company’s Chief Financial Officer, and Ms. Yang Xiaoping, head of the Company’s financial
department (equivalent to financial manager) hereby guarantee that the Financial Statements carried in this
Report are factual, accurate and complete.
This Report has been prepared in both Chinese and English. Should there be any discrepancies or
misunderstandings between the two versions, the Chinese version shall prevail.
The financial statements in this Report have not been audited by an independent auditor.
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BOE Technology Group Co., Ltd. First Quarterly Report 2022
I Key Financial Information
(I) Key Accounting Data and Financial Indicators
Indicate by tick mark whether there is any retrospectively restated datum in the table below.
√ Yes □ No
Reason for any retrospectively adjustment or restatement
Changes of accounting policies
Q1 2021 Change (%)
Item Q1 2022
Before After After
Operating revenue (RMB) 50,475,809,458.00 49,655,379,519.00 50,275,246,475.00 0.40%
Net profit attributable to the listed
4,388,727,184.00 5,182,037,171.00 5,260,529,397.00 -16.57%
company’s shareholders (RMB)
Net profit attributable to the listed
company’s shareholders before exceptional 3,511,402,963.00 4,484,934,082.00 4,563,426,308.00 -23.05%
items (RMB)
Net cash generated from/used in operating
14,755,368,710.00 14,522,832,708.00 14,565,287,236.00 1.31%
activities (RMB)
Basic earnings per share (RMB/share) 0.113 0.147 0.149 -24.16%
Diluted earnings per share (RMB/share) 0.113 0.147 0.149 -24.16%
Weighted average return on equity (%) 3.25% 5.51% 5.59% -2.34%
31 December 2021 Change (%)
Item 31 March 2022
Before After After
Total assets (RMB) 457,064,241,891.00 449,726,980,355.00 450,232,603,405.00 1.52%
Equity attributable to the listed company’s
149,310,730,085.00 142,925,547,899.00 143,086,216,558.00 4.35%
shareholders (RMB)
Reason for accounting policy change and correction of accounting error:
As required by the Q&A on the Implementation of Fixed Assets Standards and the Interpretation of Accounting Standards for
Business Enterprises No. 15 issued by the Ministry of Finance, the Group retrospectively adjusted related items of financial
statements of the beginning of the year and those of the same period of last year. The above changes of accounting policies have
no significant influence on the Company’s financial status and operating results.
(II) Exceptional Gains and Losses
√ Applicable □ Not applicable
Unit: RMB
Item Q1 2022 Note
Gain or loss on disposal of non-current assets (inclusive of impairment allowance
231,829.00 N/A
write-offs)
Tax rebates, reductions and exemptions with ultra vires approval or in lack of duly
0.00 N/A
approved document
Government grants through profit or loss (exclusive of government grants continuously
given in the Company’s ordinary course of business at fixed quotas or amounts as per the 1,078,316,948.00 N/A
government’s policies and standards)
Capital occupation charges on non-financial enterprises that are charged to current gains
0.00 N/A
and losses
Income equal to the amount by which investment costs for the Company to obtain
subsidiaries, associates and joint ventures are lower than the Company’s enjoyable fair 0.00 N/A
value of identifiable net assets of investees when making investments
Gains and losses on non-monetary asset swap 0.00 N/A
Gains and losses on investment or asset management entrustments to other entities 0.00 N/A
Allowance for asset impairments due to acts of God such as natural disasters 0.00 N/A
Gains and losses on debt restructuring 0.00 N/A
Restructuring costs in staff arrangement, integration, etc. 0.00 N/A
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BOE Technology Group Co., Ltd. First Quarterly Report 2022
Gains and losses on over-fair value amount as a result of transactions with distinctly unfair
0.00 N/A
prices
Current gains and losses on subsidiaries acquired through business mergers under same
0.00 N/A
control from period-beginning to merger dates, net
Gains and losses on contingencies that do not arise in the Company’s ordinary course of
0.00 N/A
business
Gain or loss on fair-value changes in held-for-trading financial assets and liabilities &
investment income from disposal of held-for-trading financial assets and liabilities, and
61,783,623.00 N/A
available-for-sale financial assets (exclusive of effective portion of hedges that arise in the
Company’s ordinary course of business)
Reversed portion of impairment allowance for accounts receivable which are tested
16,068,217.00 N/A
individually for impairment
Gains and losses on loan entrustment 0.00 N/A
Gains and losses on fair value changes in investment property of which subsequent
0.00 N/A
measurement is carried out using fair value method
Effects of all adjustments required by taxation, accounting and other applicable laws and
0.00 N/A
regulations on current gains and losses
Income from charges on entrusted management 0.00 N/A
Non-operating income and expense other than above 16,795,674.00 N/A
Other gains and losses that meet definition of nonrecurring gain/loss 0.00 N/A
Less: Income tax effects 34,329,499.00 N/A
Non-controlling interests effects (net of tax) 261,542,571.00 N/A
Total 877,324,221.00 --
Other items that meet the definition of exceptional gain/loss:
□ Applicable √ Not applicable
No such cases in the Reporting Period.
Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item listed in the Explanatory Announcement
No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Gain/Loss Items:
□ Applicable √ Not applicable
No such cases in the Reporting Period.
(III) Changes in Key Financial Statement Line Items and Explanation of why
√ Applicable □ Not applicable
Changes in key line items of the income statement and explanation of why:
1. Selling expenses increased by 31% year-on-year, mainly due to the corresponding increase in the company's market
development.
2. Finance costs declined 34% during Q1 2022 compared to Q1 2021, primarily driven by the decreased interest expense as a
result of the repayment of some bank loans.
3. Other income rose 73% during Q1 2022 compared to Q1 2021, primarily driven by the increased government grants during
the Reporting Period.
4. Return on investment rose 2706% during Q1 2022 compared to Q1 2021, primarily driven by the increased returns recognized
on investments in associates during the Reporting Period.
5. Gain on changes in fair value rose 91% during Q1 2022 compared to Q1 2021, primarily driven by the increased gains on
investments in wealth management products during the Reporting Period.
Changes in key line items of the cash flow statement and explanation of why:
1. Net cash used in investing activities declined 61% during Q1 2022 compared to Q1 2021, primarily driven by the decreased
expenditures on new project construction, etc. during the Reporting Period.
II Shareholder Information
(I) Numbers of Ordinary Shareholders and Preference Shareholders with Resumed Voting Rights as
well as Holdings of Top 10 Shareholders
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BOE Technology Group Co., Ltd. First Quarterly Report 2022
Unit: share
Number of ordinary shareholders 1,645,844 (including 1,608,385 A-shareholders and 37,459 B-shareholders)
Top 10 shareholders
Shares in pledge,
Nature of Shareholding Total shares Restricted marked or frozen
Name of shareholder
shareholder percentage held shares
Status Shares
Beijing State-owned Capital Operation and State-owned
10.57% 4,063,333,333 0 N/A 0
Management Company Limited legal person
Foreign legal
Hong Kong Securities Clearing Company Ltd. 4.21% 1,618,569,408 0 N/A 0
person
Beijing BOE Investment & Development Co., State-owned
2.14% 822,092,180 0 N/A 0
Ltd. legal person
Beijing Jing Guorui Soe Reform and
Other 1.87% 718,132,854 718,132,854 N/A 0
Development Fund (L.P.)
State-owned
Hefei Jianxiang Investment Co., Ltd. 1.73% 666,195,772 0 N/A 0
legal person
Domestic
Fuqing Huirong Venture Capital Group Co.,
non-state-owned 1.40% 538,599,640 0 N/A 0
Ltd.
legal person
Chongqing Ezcapital Opto-electronic Industry State-owned
0.85% 326,229,746 0 N/A 0
Investment Co., Ltd. legal person
Sinatay Life Insurance Co., Ltd.-Traditional
Other 0.79% 305,330,128 0 N/A 0
Product
State-owned
Beijing Yizhuang Investment Holdings Co., Ltd 0.73% 281,295,832 0 N/A 0
legal person
State-owned
Beijing Electronics Holdings Co., Ltd. 0.71% 273,735,583 0 N/A 0
legal person
Top 10 unrestricted shareholders
Shares by type
Name of shareholder Unrestricted shares held
Type Shares
Beijing State-owned Capital Operation and RMB-denominated
4,063,333,333 4,063,333,333
Management Company Limited ordinary share
RMB-denominated
Hong Kong Securities Clearing Company Ltd. 1,618,569,408 1,618,569,408
ordinary share
Beijing BOE Investment & Development Co., RMB-denominated
822,092,180 822,092,180
Ltd. ordinary share
RMB-denominated
Hefei Jianxiang Investment Co., Ltd. 666,195,772 666,195,772
ordinary share
Fuqing Huirong Venture Capital Group Co., RMB-denominated
538,599,640 538,599,640
Ltd. ordinary share
Chongqing Ezcapital Opto-electronic Industry RMB-denominated
326,229,746 326,229,746
Investment Co., Ltd. ordinary share
Sinatay Life Insurance Co., Ltd.-Traditional RMB-denominated
305,330,128 305,330,128
Product ordinary share
RMB-denominated
Beijing Yizhuang Investment Holdings Co., Ltd 281,295,832 281,295,832
ordinary share
RMB-denominated
Beijing Electronics Holdings Co., Ltd. 273,735,583 273,735,583
ordinary share
Caitong Fund-PSBC-Caitong Fund-Yuquan
RMB-denominated
Bohai Life Insurance No.1 Asset Management 179,533,214 179,533,214
ordinary share
Plan
1. Beijing State-owned Capital Operation and Management Company Limited held
100% equities of Beijing Electronics Holdings Co., Ltd.
Related or acting-in-concert parties among the
shareholders above 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.
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BOE Technology Group Co., Ltd. First Quarterly Report 2022
and Chongqing Ezcapital Opto-electronic Industry Investment Co., Ltd., by entering
into Implementation Protocol of Voting Right respectively, agreed to maintain all of
the shares held by them respectively unanimous with Beijing BOE Investment &
Development Co., Ltd. when executing the voting rights of the shareholders.
4. After the non-public issuing of the Company in 2014, Beijing State-owned Capital
Operation and Management Company Limited 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. During the non-public issuing of the Company in 2021, Beijing Jing Guorui Soe
Reform and Development Fund (L.P.) signed the Acting-in-Concert Agreement with
Beijing Electronics Holdings Co., Ltd.
6. Beijing State-owned Capital Operation and Management Company Limited
indirectly held 100% equities of Beijing Jingguorui Investment Management Co.,
Ltd. and directly held 77.5918% shares of Beijing Jing Guorui Soe Reform and
Development Fund (L.P.); Beijing Jingguorui Investment Management Co., Ltd. is
the general partner of Beijing Jing Guorui Soe Reform and Development Fund (L.P.).
In addition, among the nine members of the Investment Decision-Making Committee
of Beijing Jing Guorui Soe Reform and Development Fund (L.P.), three are
nominated by Beijing State-owned Capital Operation and Management Company
Limited.
7. 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
N/A
securities margin trading
Note: As of the end of the Reporting Period, among the Top 10 shareholders, the special securities account of the Company for
repurchase held 528,186,052 shares, accounting for 1.37%.
(II) Number of Preference Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
III 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) (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 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 Company publicly issued the renewable corporate bonds
(to qualified investors) (the third issue) (epidemic prevention and control bonds) (“20BOEY3” for short; Code: 149108) in 2020
with the issue term from 24 April 2020 to 27 April 2020. The Company disclosed 2022 "20BOEY1" Interest Payment
Announcement (Announcement No. 2022-006) on 24 February 2022. The interest payment plan was RMB36.40 (including tax)
every ten bonds. The Company disclosed 2022 "20BOEY2" Interest Payment Announcement (Announcement No. 2022-013) on
17 March 2022. The interest payment plan was RMB35.40 (including tax) per ten bonds. The Company publicly issued
renewable corporate bonds (digital economy) to professional investors (the first issue) (“22BOEY1” for short; Code: 149861) in
2022 with the issue term from 24 March 2022 to 25 March 2022, the issuing scale of RMB2 billion and the bonds’ ultimate
nominal interest rate of 3.50%. The Company disclosed 2022 "20BOEY3" Interest Payment Announcement (Announcement No.
2022-037) on 23 April 2022. The interest payment plan was RMB35.00 (including tax) per ten bonds.
2. 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 20 billion. 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. On 18 February 2022,
the Company disclosed the Suggestive Announcement on Relieving Restricted Non-publicly Offered A Shares in 2021
(Announcement No.: 2022-005). On 21 February 2022, 2,932,244,165 restricted shares of non-publicly offered A shares in 2021
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BOE Technology Group Co., Ltd. First Quarterly Report 2022
were relieved and could be traded in the market. The number of the relieved restricted shares accounted for 8.5058% of
non-restricted shares of the Company, and 7.6270% of the total share capital of the Company.
3. Following the approval of the Proposal on the Repurchase of Some Public Shares at the 31st Meeting of the 9th Board of
Directors, the Company disclosed the Announcement No. 2021-067 on the Repurchase of Some Public Shares on 31 August 2021.
The Company carried out the first repurchase on 2 September 2021 and disclosed the Announcement No. 2021-077 on the First
Repurchase of Some Public Shares on 3 September 2021. On 2 March 2022, the Company disclosed the Announcement on the
Completed Implementation of Share Repurchase Programme and Repurchase Implementation Results (Announcement No.:
2022-007). As at 28 February 2022, the Company has implemented the repurchase of the Company's shares by means of
centralized bidding through a special securities account for the repurchase, and the cumulative number of A Shares repurchased
was 499,999,919, accounting for approximately 1.3330% of the Company's A Shares and 1.3005% of the Company's total share
capital, with the highest transaction price of RMB5.96 per share and the lowest transaction price of RMB4.68 per share. The total
amount paid was RMB2,620,105,418.52 (including other fixed expenses such as commissions). The above repurchase of the
Company was in line with the requirements of relevant laws and regulations, as well as the established repurchase programme of
the Company. The total fund of this share repurchase didn't exceed the amount proposed to be used in the repurchase programme,
and the number of shares repurchased has reached the cap of shares under the repurchase programme. So far, this share repurchase
has been implemented and completed as planned.
4. The Company has disclosed the Indicative Announcement on the General Election of the Board of Directors (Announcement
No.: 2022-008) and the Indicative Announcement on the General Election of the Supervisory Committee (Announcement No.:
2022-009) on 2 March 2022 and convened the 39th Meeting of the 9th Board of Directors and the 16th Meeting of the 9th
Supervisory Committee on 30 March 2022, reviewing and approving proposals related to the general election. For more details,
please refer to related announcements.
Overview of significant event Disclosure date Disclosure website
Announcement on Related-party Transactions regarding the Capital
15 March 2022 www.cninfo.com.cn
Increase in Tianjin Xianzhilian Investment Centre (Limited Partnership)
IV Quarterly Financial Statements
(I) Financial Statements
1. Consolidated Balance Sheet
Prepared by BOE Technology Group Co., Ltd.
Unit: RMB
Item 31 March 2022 31 December 2021
Current assets:
Monetary assets 91,436,348,757.00 80,986,835,088.00
Settlement reserve 0.00 0.00
Loans to other banks and financial institutions 0.00 0.00
Held-for-trading financial assets 8,939,174,385.00 10,028,172,853.00
Derivative financial assets 0.00 0.00
Notes receivable 254,132,199.00 217,734,298.00
Accounts receivable 32,640,867,099.00 35,503,414,820.00
Receivables financing 0.00 0.00
Prepayments 1,227,680,594.00 1,112,880,007.00
Premiums receivable 0.00 0.00
Reinsurance receivables 0.00 0.00
Receivable reinsurance contract reserve 0.00 0.00
Other receivables 1,633,752,335.00 1,922,828,378.00
Including: Interest receivable 373,076.00 0.00
Dividends receivable 0.00 2,414,503.00
Financial assets purchased under resale agreements 0.00 0.00
Inventories 30,513,074,522.00 27,805,161,436.00
Contract assets 79,972,798.00 75,698,324.00
Assets held for sale 0.00 0.00
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BOE Technology Group Co., Ltd. First Quarterly Report 2022
Current portion of non-current assets 7,977,244.00 7,700,735.00
Other current assets 4,372,823,495.00 3,578,919,710.00
Total current assets 171,105,803,428.00 161,239,345,649.00
Non-current assets:
Loans and advances to customers 0.00 0.00
Debt investments 0.00 0.00
Other debt investments 0.00 0.00
Long-term receivables 27,469,739.00 29,918,542.00
Long-term equity investments 6,234,927,253.00 6,040,948,317.00
Investments in other equity instruments 538,386,832.00 519,088,146.00
Other non-current financial assets 606,895,447.00 606,895,447.00
Investment property 1,147,892,694.00 1,158,365,401.00
Fixed assets 220,663,509,732.00 227,141,366,885.00
Construction in progress 35,282,157,712.00 32,099,711,879.00
Productive living assets 0.00 0.00
Oil and gas assets 0.00 0.00
Right-of-use assets 818,555,025.00 753,164,237.00
Intangible assets 10,965,363,725.00 11,209,498,406.00
Development costs 0.00 0.00
Goodwill 1,130,006,987.00 1,130,006,987.00
Long-term prepaid expense 602,853,236.00 636,530,502.00
Deferred income tax assets 186,970,015.00 190,335,524.00
Other non-current assets 7,753,450,066.00 7,477,427,483.00
Total non-current assets 285,958,438,463.00 288,993,257,756.00
Total assets 457,064,241,891.00 450,232,603,405.00
Current liabilities:
Short-term borrowings 3,251,018,316.00 2,072,057,332.00
Borrowings from the central bank 0.00 0.00
Loans from other banks and financial institutions 0.00 0.00
Held-for-trading financial liabilities 0.00 0.00
Derivative financial liabilities 0.00 0.00
Notes payable 496,011,302.00 827,958,031.00
Accounts payable 35,963,435,756.00 32,455,830,694.00
Advances from customers 131,373,866.00 146,140,084.00
Contract liabilities 3,403,827,561.00 3,765,081,554.00
Financial assets sold under repurchase agreements 0.00 0.00
Customer deposits and deposits from other banks and financial
0.00 0.00
institutions
Payables for acting trading of securities 0.00 0.00
Payables for underwriting of securities 0.00 0.00
Employee benefits payable 3,288,826,039.00 5,133,155,237.00
Taxes and levies payable 2,006,965,888.00 2,200,249,305.00
Other payables 22,525,577,032.00 23,835,374,942.00
Including: Interest payable 132,742.00 126,701.00
Dividends payable 47,489,124.00 6,561,972.00
Fees and commissions payable 0.00 0.00
Reinsurance payables 0.00 0.00
Liabilities directly associated with assets held for sale 0.00 0.00
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BOE Technology Group Co., Ltd. First Quarterly Report 2022
Current portion of non-current liabilities 29,600,021,863.00 28,874,958,714.00
Other current liabilities 4,355,045,910.00 4,051,532,509.00
Total current liabilities 105,022,103,533.00 103,362,338,402.00
Non-current liabilities:
Insurance contract reserve 0.00 0.00
Long-term borrowings 114,905,035,601.00 116,078,666,587.00
Bonds payable 356,266,922.00 359,586,437.00
Including: Preference shares 0.00 0.00
Perpetual bonds 0.00 0.00
Lease liabilities 750,713,346.00 669,130,264.00
Long-term payables 838,775,810.00 906,592,838.00
Long-term employee benefits payable 0.00 0.00
Provisions 0.00 0.00
Deferred income 7,562,992,795.00 6,416,089,611.00
Deferred income tax liabilities 1,609,263,577.00 1,525,622,873.00
Other non-current liabilities 3,098,148,335.00 3,535,809,876.00
Total non-current liabilities 129,121,196,386.00 129,491,498,486.00
Total liabilities 234,143,299,919.00 232,853,836,888.00
Owners’ equity:
Share capital 38,445,746,482.00 38,445,746,482.00
Other equity instruments 16,136,312,495.00 14,146,997,427.00
Including: Preference shares 0.00 0.00
Perpetual bonds 16,136,312,495.00 14,146,997,427.00
Capital reserves 53,961,853,431.00 53,804,309,393.00
Less: Treasury stock 3,607,870,206.00 3,415,768,207.00
Other comprehensive income 127,495,451.00 113,551,147.00
Specific reserve 0.00 0.00
Surplus reserves 2,889,590,205.00 2,889,590,205.00
General reserve 0.00 0.00
Retained earnings 41,357,602,227.00 37,101,790,111.00
Total equity attributable to owners of the Company as the parent 149,310,730,085.00 143,086,216,558.00
Non-controlling interests 73,610,211,887.00 74,292,549,959.00
Total owners’ equity 222,920,941,972.00 217,378,766,517.00
Total liabilities and owners’ equity 457,064,241,891.00 450,232,603,405.00
Legal representative: Chen Yanshun President of the Company’s Execution Committee: Liu Xiaodong
Chief Financial Officer: Sun Yun Head of the Company’s Financial Department: Yang Xiaoping
2. Consolidated Income Statement
Unit: RMB
Item Q1 2022 Q1 2021
1. Revenues 50,475,809,458.00 50,275,246,475.00
Including: Operating revenue 50,475,809,458.00 50,275,246,475.00
Interest income 0.00 0.00
Insurance premium income 0.00 0.00
Fee and commission income 0.00 0.00
2. Costs and expenses 46,115,162,970.00 42,386,221,496.00
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BOE Technology Group Co., Ltd. First Quarterly Report 2022
Including: Cost of sales 39,684,611,253.00 36,503,164,071.00
Interest expense 0.00 0.00
Fee and commission expense 0.00 0.00
Surrenders 0.00 0.00
Net insurance claims paid 0.00 0.00
Net amount provided as insurance contract reserve 0.00 0.00
Expenditure on policy dividends 0.00 0.00
Reinsurance premium expense 0.00 0.00
Taxes and levies 330,652,660.00 441,746,948.00
Selling expense 1,287,186,541.00 979,913,793.00
Administrative expense 1,519,761,605.00 1,516,010,667.00
R&D expense 2,806,213,073.00 2,212,994,970.00
Finance costs 486,737,838.00 732,391,047.00
Including: Interest expense 867,262,005.00 1,102,678,393.00
Interest income 283,152,157.00 212,662,119.00
Add: Other income 1,094,340,931.00 633,790,180.00
Return on investment (“-” for loss) 117,605,433.00 4,191,862.00
Including: Share of profit or loss of joint ventures and
97,835,782.00 -1,651,195.00
associates
Income from the derecognition of financial assets at
0.00 0.00
amortized cost (“-” for loss)
Exchange gain (“-” for loss) 0.00 0.00
Net gain on exposure hedges (“-” for loss) 0.00 0.00
Gain on changes in fair value (“-” for loss) 46,893,075.00 24,615,626.00
Credit impairment loss (“-” for loss) -12,689,672.00 -1,728,887.00
Asset impairment loss (“-” for loss) -1,356,086,452.00 -1,259,128,818.00
Asset disposal income (“-” for loss) -16,896.00 150,606,678.00
3. Operating profit (“-” for loss) 4,250,692,907.00 7,441,371,620.00
Add: Non-operating income 21,307,453.00 20,465,222.00
Less: Non-operating expense 4,263,055.00 1,760,338.00
4. Gross profit (“-” for loss) 4,267,737,305.00 7,460,076,504.00
Less: Income tax expense 1,042,650,624.00 924,524,817.00
5. Net profit (“-” for net loss) 3,225,086,681.00 6,535,551,687.00
5.1 By operating continuity
5.1.1 Net profit from continuing operations (“-” for net loss) 3,225,086,681.00 6,535,551,687.00
5.1.2 Net profit from discontinued operations (“-” for net
0.00 0.00
loss)
5.2 By ownership
5.2.1 Net profit attributable to owners of the Company as
4,388,727,184.00 5,260,529,397.00
the parent
5.2.1 Net profit attributable to non-controlling interests -1,163,640,503.00 1,275,022,290.00
6. Other comprehensive income, net of tax -27,966,654.00 81,021,763.00
Attributable to owners of the Company as the parent 13,944,304.00 89,795,839.00
6.1 Items that will not be reclassified to profit or loss 17,430,815.00 -1,357,488.00
6.1.1 Changes caused by remeasurements on defined
0.00 0.00
benefit schemes
6.1.2 Other comprehensive income that will not be
0.00 0.00
reclassified to profit or loss under the equity method
6.1.3 Changes in the fair value of investments in other
17,430,815.00 -1,357,488.00
equity instruments
6.1.4 Changes in the fair value arising from changes in
0.00 0.00
own credit risk
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BOE Technology Group Co., Ltd. First Quarterly Report 2022
6.1.5 Other 0.00 0.00
6.2 Items that will be reclassified to profit or loss -3,486,511.00 91,153,327.00
6.2.1 Other comprehensive income that will be
0.00 0.00
reclassified to profit or loss under the equity method
6.2.2 Changes in the fair value of other debt investments 0.00 0.00
6.2.3 Other comprehensive income arising from the
0.00 0.00
reclassification of financial assets
6.2.4 Credit impairment allowance for other debt
0.00 0.00
investments
6.2.5 Reserve for cash flow hedges 0.00 0.00
6.2.6 Differences arising from the translation of foreign
-3,486,511.00 91,153,327.00
currency-denominated financial statements
6.2.7 Other 0.00 0.00
Attributable to non-controlling interests -41,910,958.00 -8,774,076.00
7. Total comprehensive income 3,197,120,027.00 6,616,573,450.00
Attributable to owners of the Company as the parent 4,402,671,488.00 5,350,325,236.00
Attributable to non-controlling interests -1,205,551,461.00 1,266,248,214.00
8. Earnings per share
8.1 Basic earnings per share 0.113 0.149
8.2 Diluted earnings per share 0.113 0.149
Where business combinations under common control occurred in the current period, the net profit achieved by the acquirees
before the combinations was RMB0.00, with the amount for the same period of last year being RMB0.00 .
Legal representative: Chen Yanshun President of the Company’s Execution Committee: Liu Xiaodong
Chief Financial Officer: Sun Yun Head of the Company’s Financial Department: Yang Xiaoping
3. Consolidated Cash Flow Statement
Unit: RMB
Item Q1 2022 Q1 2021
1. Cash flows from operating activities:
Proceeds from sale of commodities and rendering of services 53,193,351,085.00 45,271,895,773.00
Net increase in customer deposits and deposits from other
0.00 0.00
banks and financial institutions
Net increase in borrowings from the central bank 0.00 0.00
Net increase in loans from other financial institutions 0.00 0.00
Premiums received on original insurance contracts 0.00 0.00
Net proceeds from reinsurance 0.00 0.00
Net increase in deposits and investments of policy holders 0.00 0.00
Interest, fees and commissions received 0.00 0.00
Net increase in loans from other banks and financial
0.00 0.00
institutions
Net increase in proceeds from repurchase transactions 0.00 0.00
Net proceeds from acting trading of securities 0.00 0.00
Tax and levy rebates 2,472,173,743.00 3,313,056,369.00
Cash generated from other operating activities 3,471,152,956.00 2,404,235,560.00
Subtotal of cash generated from operating activities 59,136,677,784.00 50,989,187,702.00
Payments for commodities and services 33,048,052,229.00 27,945,824,119.00
Net increase in loans and advances to customers 0.00 0.00
Net increase in deposits in the central bank and other banks
0.00 0.00
and financial institutions
Payments for claims on original insurance contracts 0.00 0.00
Net increase in loans to other banks and financial institutions 0.00 0.00
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BOE Technology Group Co., Ltd. First Quarterly Report 2022
Interest, fees and commissions paid 0.00 0.00
Policy dividends paid 0.00 0.00
Cash paid to and for employees 6,289,071,717.00 5,234,398,791.00
Taxes and levies paid 3,330,582,091.00 1,591,889,266.00
Cash used in other operating activities 1,713,603,037.00 1,651,788,290.00
Subtotal of cash used in operating activities 44,381,309,074.00 36,423,900,466.00
Net cash generated from/used in operating activities 14,755,368,710.00 14,565,287,236.00
2. Cash flows from investing activities:
Proceeds from disinvestment 13,709,979,844.00 6,945,083,730.00
Return on investment 49,787,931.00 38,345,717.00
Net proceeds from the disposal of fixed assets, intangible
1,961,256.00 28,883,902.00
assets and other long-lived assets
Net proceeds from the disposal of subsidiaries and other
0.00 0.00
business units
Cash generated from other investing activities 483,998,970.00 345,469,057.00
Subtotal of cash generated from investing activities 14,245,728,001.00 7,357,782,406.00
Payments for the acquisition of fixed assets, intangible assets
7,192,075,500.00 12,860,450,056.00
and other long-lived assets
Payments for investments 12,725,853,914.00 13,093,098,515.00
Net increase in pledged loans granted 0.00 0.00
Net payments for the acquisition of subsidiaries and other
0.00 0.00
business units
Cash used in other investing activities 1,641,148,452.00 120,044,162.00
Subtotal of cash used in investing activities 21,559,077,866.00 26,073,592,733.00
Net cash generated from/used in investing activities -7,313,349,865.00 -18,715,810,327.00
3. Cash flows from financing activities:
Capital contributions received 550,000,000.00 4,412,784,000.00
Including: Capital contributions by non-controlling interests
550,000,000.00 4,412,784,000.00
to subsidiaries
Borrowings received 13,149,138,371.00 11,174,149,007.00
Cash generated from other financing activities 295,482.00 459,334,021.00
Subtotal of cash generated from financing activities 13,699,433,853.00 16,046,267,028.00
Repayment of borrowings 9,848,275,263.00 12,067,500,252.00
Interest and dividends paid 1,524,112,902.00 1,870,277,309.00
Including: Dividends paid by subsidiaries to non-controlling
0.00 0.00
interests
Cash used in other financing activities 593,623,351.00 403,063,436.00
Subtotal of cash used in financing activities 11,966,011,516.00 14,340,840,997.00
Net cash generated from/used in financing activities 1,733,422,337.00 1,705,426,031.00
4. Effect of foreign exchange rates changes on cash and cash
122,409,685.00 171,780,599.00
equivalents
5. Net increase in cash and cash equivalents 9,297,850,867.00 -2,273,316,461.00
Add: Cash and cash equivalents, beginning of the period 76,623,486,083.00 68,064,736,371.00
6. Cash and cash equivalents, end of the period 85,921,336,950.00 65,791,419,910.00
(II) Independent Auditor’s Report
Indicate by tick mark whether the financial statements above have been audited by an independent auditor.
□ Yes √ No
These financial statements have not been audited by such an auditor.
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BOE Technology Group Co., Ltd. First Quarterly Report 2022
BOE Technology Group Co., Ltd.
Board of Directors
27 April 2022
12
