BOE Technology Group Co., Ltd. Interim Report 2022 (Summary)
Stock Code: 000725, 200725 Stock Name: BOE-A, BOE-B Announcement No. 2022-064
BOE TECHNOLOGY GROUP CO., LTD.
INTERIM REPORT 2022 (SUMMARY)
Part I Important Notes
This Summary is based on the full Interim Report of BOE Technology Group Co., Ltd. (together with its consolidated subsidiaries, the
“Company”, except where the context otherwise requires). In order for a full understanding of the Company’s operating results,
financial condition and future development plans, investors should carefully read the aforesaid full report, which has been disclosed
together with this Summary on the media designated by the China Securities Regulatory Commission (the “CSRC”).
All the Company’s directors have attended the Board meeting for the review of this Report and its summary.
Independent auditor’s modified opinion:
□ Applicable Not applicable
Board-approved interim cash and/or stock dividend plan for ordinary shareholders:
□ Applicable Not applicable
The Company has no interim dividend plan, either in the form of cash or stock.
Board-approved interim cash and/or stock dividend plan for preferred shareholders:
□ Applicable Not applicable
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.
Part II Key Corporate Information
1. Stock Profile
Stock name BOE-A, BOE-B Stock code 000725, 200725
Stock exchange for stock listing Shenzhen Stock Exchange
Changed stock name (if any) N/A
Contact information Board Secretary Securities Representative
Name Liu Hongfeng Luo Wenjie
12 Xihuan Middle Road, Beijing 12 Xihuan Middle Road, Beijing
Office address Economic-Technological Development Economic-Technological Development
Area, P.R.China Area, P.R.China
Tel. 010-64318888 ext. 010-64318888 ext.
E-mail address liuhongfeng@boe.com.cn luowenjie@boe.com.cn
2. Key Financial Information
Indicate by tick mark whether there is any retrospectively restated datum in the table below.
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BOE Technology Group Co., Ltd. Interim Report 2022 (Summary)
Yes □ No
Reason for retrospective restatement:
Change of accounting policy.
Change
H1 2021
Item H1 2022 (%)
Before Restated Restated
Operating revenue (RMB) 91,610,241,869.00 107,285,327,026.00 108,618,018,710.00 -15.66%
Net profit attributable to the listed
6,595,661,738.00 12,762,024,968.00 12,917,163,177.00 -48.94%
company’s shareholders (RMB)
Net profit attributable to the listed
company’s shareholders before 4,239,456,093.00 11,661,616,772.00 11,816,754,981.00 -64.12%
exceptional gains and losses (RMB)
Net cash generated from/used in
28,112,000,665.00 32,745,188,339.00 32,787,642,867.00 -14.26%
operating activities (RMB)
Basic earnings per share (RMB/share) 0.166 0.363 0.367 -54.77%
Diluted earnings per share (RMB/share) 0.166 0.363 0.367 -54.77%
Weighted average return on equity (%) 4.80% 13.40% 13.54% -8.74%
Change
31 December 2021
Item 30 June 2022 (%)
Before Restated Restated
Total assets (RMB) 446,291,365,552.00 449,726,980,355.00 450,232,603,405.00 -0.88%
Equity attributable to the listed
143,316,946,650.00 142,925,547,899.00 143,086,216,558.00 0.16%
company’s 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.
3. Shareholders and Their Holdings as at the End of the Reporting Period
Unit: share
Number of ordinary shareholders
1,641,390 (including 1,606,920 A-shareholders and 34,470 B-shareholders)
at the period-end
Top 10 shareholders
Shares in pledge,
Nature of Shareholding Number of Restricted
Name of shareholder marked or frozen
shareholder percentage shares shares
Status Shares
Beijing State-owned Capital
State-owned
Operation and Management 10.57% 4,063,333,333 0 N/A 0
legal person
Company Limited
Hong Kong Securities Clearing Foreign legal
3.75% 1,443,583,683 0 N/A 0
Company Ltd. person
Beijing BOE Investment & State-owned
2.14% 822,092,180 0 N/A 0
Development Co., Ltd. legal person
Beijing Jing Guorui Soe Reform
Other 1.87% 718,132,854 718,132,854 N/A 0
and Development Fund (L.P.)
Hefei Jianxiang Investment Co., State-owned
1.73% 666,195,772 0 N/A 0
Ltd. legal person
Fuqing Huirong Venture Capital Domestic non- 1.40% 538,599,640 0 N/A 0
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BOE Technology Group Co., Ltd. Interim Report 2022 (Summary)
Co., Ltd. state-owned
legal person
Sinatay Life Insurance Co., Ltd.-
Other 0.79% 305,330,128 0 N/A 0
Traditional Product
Beijing Yizhuang Investment State-owned
0.73% 280,721,832 0 N/A 0
Holdings Co., Ltd legal person
Beijing Electronics Holdings Co., State-owned
0.71% 273,735,583 0 N/A 0
Ltd. legal person
Domestic non-
Ningxia Risheng High-tech
state-owned 0.67% 257,152,466 0 N/A 0
Industry Co., Ltd. legal person
1. Beijing State-owned Capital Operation and Management Company Limited 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., by
entering into Implementation Protocol of Voting Right, agreed to maintain all of the shares held
by it unanimous with Beijing BOE Investment & Development Co., Ltd. when executing the
voting rights as a shareholder.
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
Related or acting-in-concert disposing right and usufruct of the shares, of which the rest 30% voting right maintained
parties among the shareholders unanimous with Beijing Electronics Holdings Co., Ltd. through the agreement according to
Implementation Protocol of Voting Right.
above 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.
1. Shareholder Ningxia Risheng High-tech Industry Co., Ltd. held 232,612,566 shares in the
Company via its credit securities account.
2. The shares held by Beijing Yizhuang Investment Holdings Co., Ltd. in the Company
increased by 119,131,000 shares due to securities refinancing.
3. Shareholders Beijing State-owned Capital Operation and Management Company Limited,
Shareholders involved in
Beijing BOE Investment & Development Co., Ltd., Beijing Jing Guorui SOE Reform and
securities margin trading (if any)
Development Fund (L.P.), Hefei Jianxiang Investment Co., Ltd., Fuqing Huirong Venture
Capital Co., Ltd., Beijing Electronics Holdings Co., Ltd. and Sinatay Life Insurance Co.,
Ltd.-Traditional Product were not involved in securities refinancing.
4. Except for the aforesaid, the Company does not know any other top-10 ordinary
shareholder who was involved in securities refinancing.
4. Change of the Controlling Shareholder or the Actual Controller in the Reporting Period
Change of the controlling shareholder in the Reporting Period:
□ Applicable Not applicable
The controlling shareholder remained the same in the Reporting Period.
Change of the actual controller in the Reporting Period:
□ Applicable Not applicable
The actual controller remained the same in the Reporting Period.
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BOE Technology Group Co., Ltd. Interim Report 2022 (Summary)
5. Number of Preferred Shareholders and Shareholdings of Top 10 of Them
□ Applicable Not applicable
No preferred shareholders in the Reporting Period.
6. Outstanding Bonds at the Date when this Report Was Authorized for Issue
Applicable □ Not applicable
(1) Bond Profile
Bond Balance Coupon
Bond name Abbr. Date of issue Maturity
code (RMB’0,000) rate
2019 Public Offering of Renewable
28 October 29 October
Corporate Bonds of BOE (for 19BOEY1 112741 800,000 4.00%
2019 2022
qualified investors) (Phase I)
2020 Public Offering of Renewable
Corporate Bonds of BOE (for
27 February 28 February
qualified investors) (Phase I) 20BOEY1 149046 200,000 3.64%
2020 2023
(epidemic prevention and control
bonds)
2020 Public Offering of Renewable
Corporate Bonds of BOE (for
18 March 19 March
qualified investors) (Phase II) 20BOEY2 149065 200,000 3.54%
2020 2023
(epidemic prevention and control
bonds)
2020 Public Offering of Renewable
Corporate Bonds of BOE (for
24 April
qualified investors) (Phase III) 20BOEY3 149108 27 April 2023 200,000 3.50%
2020
(epidemic prevention and control
bonds)
2022 Public Offering of Renewable
Corporate Bonds of BOE (for 24 March 25 March
22BOEY1 149861 200,000 3.50%
professional investors) (Digital 2022 2025
Economy) (Phase I)
(2) Relevant Financial Information as of the End of the Reporting Period
Unit: RMB'0,000
Item 30 June 2022 31 December 2021
Debt/asset ratio 51.81% 51.72%
Item H1 2022 H1 2021
EBITDA-to-interest cover (times) 14.19 14.46
Part III Significant Events
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)
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BOE Technology Group Co., Ltd. Interim Report 2022 (Summary)
(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 RMB20 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 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. Following the approval of the Proposal on the Repurchase of Domestically Listed Foreign Shares (B-shares) at the 39th Meeting of
the 9th Board of Directors and the 2021 Annual General Meeting, the Company disclosed the Announcement No. 2022-030 on the
Plan for the Repurchase of Domestically Listed Foreign Shares (B-shares) on 31 March 2022 and the Report on the Repurchase of
Domestically Listed Foreign Shares (B-shares) (Announcement No. 2022-046) on 10 May 2022. The Company carried out the first
repurchase on 27 June 2022 and disclosed the Announcement No. 2022-050 on the First Repurchase of Domestically Listed Foreign
Shares (B-shares) on 28 June 2022. On 2 July 2022, the Company disclosed the Announcement No. 2022-051 on the Progress of the
Repurchase of Domestically Listed Foreign Shares (B-shares). As at 30 June 2022, the Company has implemented the repurchase of
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BOE Technology Group Co., Ltd. Interim Report 2022 (Summary)
the Company's shares by means of centralized bidding through a special securities account for the repurchase, and the cumulative
number of B-shares repurchased was 24,630,889, accounting for approximately 2.6312% of the Company's B-shares and 0.0641% of
the Company's total share capital, with the highest transaction price of HKD4.10 per share and the lowest transaction price of HKD3.65
per share. The total amount paid was HKD97,262,535.91 (net of transaction costs). 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.
5. On 29 April 2022, the Company disclosed the Announcement No. 2022-041 on the Resolutions of the 2021 Annual General Meeting,
the Announcement No. 2022-043 on the Resolutions of the First Meeting of the 10th Board of Directors, and the Announcement No.
2022-044 on the Resolutions of the First Meeting of the 10th Supervisory Committee. Re-election proposals were approved at these
meetings. As such, the re-election has been completed. For further information, see the relevant announcements.
6. On 24 May 2022, the Company disclosed the Announcement No. 2022-048 on the Distribution of the 2021 Final Dividend. As the
2021 Final Dividend Plan had been approved at the 2021 Annual General Meeting on 28 April 2022, the Company distributed a 2021
final dividend of RMB2.10 per 10 shares (dividend to B-shareholders paid in HKD according to the central parity rate of RMB and
HKD declared by the People’s Bank of China on the first working day immediately after the date of the relevant general meeting
resolution), with no bonus issue from either profit or capital reserves.
Overview of significant event Disclosure date Disclosure website
Announcement on Capital Increase to Tianjin Xianzhi Chain Investment
15 March 2022 www.cninfo.com.cn
Center (Limited Partnership) and the Related-party Transaction
Announcement on the Receipt of Equity Interests in Hefei BOE Display
20 July 2022 www.cninfo.com.cn
Technology Co., Ltd. and the Related-party Transaction
Chairman of the Board (signature): Mr. Chen Yanshun
Date of the Board’s approval of this Report: 26 August 2022
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