INTERIM REPORT 2022
August 2022
1
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. Gao Wenbao, President, Ms. Yang
Xiaoping, Chief Financial Officer, and Mr. Teng Jiao, 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 Company’s directors have attended the Board meeting for the review of this Report and
its summary.
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.
The Company has no interim dividend plan, either in the form of cash or stock.
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.
2
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 ...................................................................................................... 25
Part V Environmental and Social Responsibility .......................................................................... 28
Part VI Significant Events ............................................................................................................... 33
Part VII Share Changes and Shareholder Information ............................................................... 47
Part VIII Preferred Shares .............................................................................................................. 57
Part IX Bonds ................................................................................................................................... 58
Part X Financial Statements ........................................................................................................... 62
3
BOE Technology Group Co., Ltd. Interim Report 2022
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: 26 August 2022
4
BOE Technology Group Co., Ltd. Interim Report 2022
Definitions
Term Definition
“BOE”, the “Company”, BOE Technology Group Co., Ltd. and its consolidated subsidiaries, except where the context
the “Group” or “we” otherwise requires
The cninfo website http://www.cninfo.com.cn/
CSRC The China Securities Regulatory Commission
The Articles of Association The Articles of Association of BOE Technology Group Co., Ltd.
OLED Organic Light Emitting Diode
LED Light-emitting Diode
MLED Mini/Micro LED
TFT-LCD Thin Film Transistor Liquid Crystal Display
AMOLED Active-matrix Organic Light Emitting Diode
Oxide A compound of oxygen and another chemical element
Microdisplay Microdisplay technology
LCD Liquid Crystal Display
IoT Internet of Things
A type of radiation that can pass through objects that are not transparent and make it possible to
X-ray
see inside them
Mini/Micro LED Submillimeter/Micro Light Emitting Diode
IEC International Electrotechnical Commission
BP Back Plate
EPD Electrophoretic Display
AM Active Matrix
MNT Monitor, generally referring to the 27~34 inch model
VR/AR Virtual Reality /Augmented Reality
MNT QHD+ Monitor with QHD+ definition
NB Oxide A compound of oxygen and another chemical element
MBL Mobile
ISO International Organization for Standardization
TV Television
RGB Red Green Blue
3C Computer, communication and consumer electronics
P0.9 Point 0.9mm
SID The Society for Information Display
DIA Display Industry Awards
NB Notebook
SaaS Software-as-a-Service
Gaming Gaming monitor
C2P and C2S Whole-gadget models manufactured by the Company
5
BOE Technology Group Co., Ltd. Interim Report 2022
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 Luo Wenjie
12 Xihuan Middle Road, Beijing Economic- 12 Xihuan Middle Road, Beijing Economic-
Address
Technological Development Area, P.R.China Technological Development Area, P.R.China
Tel. 010-64318888 ext. 010-64318888 ext.
Fax 010-64366264 010-64366264
Email address liuhongfeng@boe.com.cn luowenjie@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 2021 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
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
6
BOE Technology Group Co., Ltd. Interim Report 2022
be found in the 2021 Annual Report.
3. Other Information
Indicate by tick mark whether any change occurred to other information in the Reporting Period.
□ Applicable Not applicable
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:
Change of accounting policy.
H1 2021 Change (%)
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
0.166 0.363 0.367 -54.77%
(RMB/share)
Weighted average return on equity
4.80% 13.40% 13.54% -8.74%
(%)
31 December 2021 Change (%)
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.
7
BOE Technology Group Co., Ltd. Interim Report 2022
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
-1,480,132.00 N/A
allowance write-offs)
Tax rebates, reductions and exemptions given with ultra vires approval or
0.00 N/A
in lack of official approval documents
Government subsidies charged to current profit or loss (exclusive of
government subsidies consistently given in the Company’s ordinary
2,960,353,628.00 N/A
course of business at fixed quotas or amounts as per governmental
policies or standards)
Capital occupation charges on non-financial enterprises that are charged
0.00 N/A
to current 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
0.00 N/A
Company’s enjoyable 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
0.00 N/A
management
Allowance for asset impairments due to acts of God such as natural
0.00 N/A
disasters
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
0.00 N/A
distinctly unfair prices
Current profit or loss on subsidiaries obtained in business combinations
involving enterprises under common control from the period-beginning to 0.00 N/A
combination dates, net
Gain or loss on contingencies that do not arise in the Company’s ordinary
0.00 N/A
course of business
Gain or loss on fair-value changes in held-for-trading financial assets and
liabilities & income from disposal of held-for-trading financial assets and 122,322,990.00 N/A
liabilities and available-for-sale financial assets (exclusive of the effective
8
BOE Technology Group Co., Ltd. Interim Report 2022
portion of hedges that arise in the Company’s ordinary course of
business)
Reversed portions of impairment allowances for receivables which are
20,528,284.00 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
0.00 N/A
subsequent measurement is carried out using the fair value method
Effects of all adjustments required by taxation, accounting and other
0.00 N/A
applicable laws and 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 85,481,075.00 N/A
Other gains and losses that meet the definition of exceptional gain/loss 0.00 N/A
Less: Income tax effects 92,067,447.00 N/A
Non-controlling interests effects (net of tax) 738,932,753.00 N/A
Total 2,356,205,645.00
Particulars about other gains and losses that meet the definition of exceptional gain/loss:
□ Applicable Not applicable
No such cases for 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 for the Reporting Period.
9
BOE Technology Group Co., Ltd. Interim Report 2022
Part III Management Discussion and Analysis
I Principal Activity of the Company in the Reporting Period
BOE Technology Group Co., Ltd. is an loT company providing intelligent interface products and professional services for information
interaction and human health. After years of professional cultivation, the Company has developed into a global leader in the field of
semiconductor display and a global innovative enterprise in the field of the Internet of Things. Based on a deep understanding of the
intrinsic laws of the market and practical exploration, and in order to further enhance its value creation capability, BOE has proposed
the development strategy of " Screen-Connected IoT " based on its core genes and capabilities, seizing the ubiquitous growth
opportunities of "screen", and fully leveraging its core advantage of "screen" to integrate screens into more market segments and
application scenarios by integrating more functions and deriving more forms. By doing so, BOE will realize the user perception
revolution of "screen as terminal" in the digital era, build an industrial ecology of "screen as platform and screen as system", and
reshape the value growth model. At the same time, based on the strategic design of " Screen-Connected IoT ", BOE will bring a new
connotation to the "1+4+N+Ecosystem" development structure under the new development pattern.
"1" represents semiconductor display, which is the core capacity and quality resources accumulated by BOE, as well as the source and
origin of the Company's transformation and development.
"4" is a high-potential channel and direction of development selected based on BOE's core competence and value chain extension, as
well as the four main fronts of the Company's IoT transformation, namely the IoT Innovation business, the Sensor and Solution business,
the MLED business and the Smart Medical Engineering business.
"N" refers to the subdivided application scenarios of IoT that are continuously explored and cultivated by BOE, as well as the specific
focus of the Company's IoT transformation development.
“Ecosystem” means the Company work with its partners by way of strategic investment, strategy cooperation, etc. to ensure the security
of the business ecosystem.
The Company's core businesses are summarized as follows:
1. Display Devices business
The Display Devices business offers integrated design and manufacturing services for devices, and is committed to providing interface
devices applying TFT-LCD, AMOLED, Microdisplay and other technologies, focusing on providing customers with high-quality
display devices for smartphones, tablet PCs, laptops, monitors, TVs, vehicle-mounted, electronic shelf label (ESL), industrial control,
household medical applications, applications on wearable devices, whiteboards, tiled display screens, commercial devices, VR/AR
devices, etc.
2. IoT Innovation business
The IoT Innovation business offers integrated design and manufacturing services for system solutions, and provides customers with
competitive smart terminal products for TVs, monitors, laptops, tablets, low-power devices, IoT, 3D display, etc. Backed by AI and
big data technologies, it focuses on products and services combining hardware and software, providing integrated IoT solutions for
segments including smart industrial parks, smart finance, smart government affairs and transportation, visual arts, smart energy, all-in-
one machines, etc.
3. Sensor and Solution business
The Sensor and Solution business offers integrated design and manufacturing services for system solutions, focuses on medical
biological segment, transportation and construction, consumer electronics, microwave communications, industrial sensors and other
fields, and provides customers with design and manufacturing of sensor devices and system solution services, with specific products
and solutions including back plates for flat panel X-ray detectors (FPXD), digital microfluidic chips, intelligent PDLC glass and PDLC
system solutions, fingerprint identification sensors and systems, as well as industrial sensors and solutions, among others.
10
BOE Technology Group Co., Ltd. Interim Report 2022
4. 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.
5. Smart Medical Engineering business
The Smart Medical Engineering business adopts the professional 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 major human-centered
services of health management, health technology, digital hospital, and technology services. It connects testing equipment, healthcare
workers and customers through the health IoT platform to build a smart health management ecosystem where customers enjoy health
services including prevention, treatment, therapy and nursing.
6. The "N" business
With a specific focus on "N", the Company provides hardware and software integrated system solutions for different industries,
including smart finance, smart industrial parks, visual art, smart retail, industrial IoT, and other fields, which can provide customers
with all-dimensional, one-stop and smart new experience under IoT scenarios. For example, smart retail provides customers with smart
retail solutions covering all fields such as malls and supermarkets, 3C, cosmetics, and household, realises online and offline integration
and upgrade, and offers the new experience of smart shopping; industrial IoT provides enterprises with solutions, products, and services
like smart production, smart factory, and cloud services, assists customers in digital intelligence transformation relying on its self-
developed industrial Internet platform, realises refined operation and management, achieves cost reduction and efficiency enhancement
from all procedures of design, supply, production, and sales, and offers all-dimensional, one-stop and smart industrial IoT solutions to
customers.
II Core Competitiveness Analysis
1. Steadily improved market position
The Company made breakthroughs in markets. In the five major application areas, our LCD market share ranked first in the world. We
further expanded high-end market segments, ranked first in the world in the market shares of NB Oxide and Gaming, and saw an
increase of over 20% in the sales of MNT QHD+. In terms of innovative application, the overall sales rose by over 50% year on year.
In terms of car displays, the Company's market share rose to the world's highest for the first time. The smart terminal product line was
gradually improved. We launched new products like 65-inch and 75-inch smart screens and C2P and C2S whole products, and saw a
year-on-year increase of over 160% in the sales of large-size products; we expanded new application scenarios for smart finance,
launched the industry's first elderly-friendly finance screen, and rolled out innovative scenario solutions such as green finance and
elderly-friendly services; in terms of smart parks, the Company successfully joined the smart industrial park working group of the
National Intelligence Standards Committee to promote the building of a standard industrial park system.
2. Continuously enhanced technological strength
Through the short-, medium- and long-term technology R&D mechanism, the Company productizes technology rapidly and actively
lays out forward-looking technology directions while realizing the incubation of technology value to ensure that the Company's
technological strength continues to lead. In terms of patents, in the first half of the year, the number of new patent applications exceeded
4,500, including more than 90% for inventions and over 33% for overseas patents; patent applications in respect of OLED, sensors,
artificial intelligence (AI) and other fields exceeded 50%. In terms of technical standards, the Company led the formulation and revision
of over 40 external standards, participated in the formulation and revision of more than 70 external standards, and raised over 20
proposals on technical standards. The ISO/IEC "Internet of Things (IoT) — IoT applications for electronic label system (ELS)" led by
the Company has been officially released. The four technical standards of the UHD video and audio broadcasting system for "100
11
BOE Technology Group Co., Ltd. Interim Report 2022
Cities and 1000 Screens" such as the Technical Requirements of the Public Display System (Outdoor) of UHD Video and Audio
Broadcasting System for "100 Cities and 1000 Screens", which were formulated with the Company's participation, have been officially
released as well. In terms of products and technologies, the Company was the first to release the world's highest refresh rate technology
for TV, MNT, and NB. For TV products, we launched the "black quartz" technology with image quality matching OLED and has passed
the product certification of brand customers. A 110-inch 8K naked-eye 3D product, the largest size in the world, and a 95-inch 8K
OLED smart terminal using the 8K AI image enhancement engine, also the largest size in the world, were debuted in the SID. The
establishment of the process route for the NB backlight with ultrathin glass was completed, marking the thinnest module in the industry.
For car display products, we launched the first oversize (more than 40 inches) and curved vehicle-grade OLED product in the world.
The Company was the first to launch the peep-proof display technology featuring a 360-degree swappable display. In respect of
mini/micro LED Company launched the first direct display glass P0.9 4K product in the world and won the award of best display
component product for its 86-inch COG AM Mini LED backlight unit from SID DIA. The smart screens were delivered in batches in
the automotive and construction fields. Besides, we launched a command centre control platform and an omnimedia transportation
control platform and implemented the all-route commanding bus station project.
3. Further progress in the effectiveness of lean management
BOE continuously optimized its operation mechanism, promoted the centralization and scale of products, continued to strengthen
platform linkages and connections and leveraged its advantages of intensification, continuously enhancing the efficiency of production
lines. Design, supply, production, and sales departments closely collaborated with each other and made concerted efforts to
continuously guarantee efficient and accurate delivery. Meanwhile, focusing on the Group's strategy policy of "high-quality", we
managed to increase the delivery rate of high-end products by 6.3% from last year.
The Company was in a leading position in China's electronics industry in respect of the management of the "double carbon" task; we
successfully promoted the analysis report on management scenarios of science-based targets, trials of carbon footprint verification for
products, greenhouse gas verification, assessment of the double carbon task by third-party technology consulting firms, and the report
on carbon emission reduction by customers; the 10.5th generation of TFT-LCD production line in Wuhan was recognised as a national
green factory. The 8.5th generation of TFT-LCD production line won a national award for benchmarking enterprises of smart
manufacturing; the 8.5th generation of TFT-LCD production line in Fuzhou became the first enterprise in the Chinese Mainland to be
awarded as the "lighthouse factory" in the industry.
4. Steadily advanced digital transformation
BOE continued to comprehensively advance 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 organisational vitality, strengthen IT system support, revitalize data capital,
and realise efficient digital operation. The Company continued to improve management efficiency and business efficiency. In the first
half of the year, the Company further optimised the management mechanism for digital transformation projects, deepened the
empowerment by the project management system, refined the hierarchical decision-making mechanism, constantly improved enterprise
structure governance, process and data management capabilities, and the development of professional capabilities, and promoted the
implementation of each digital transformation project in an orderly manner focusing on excellent data, products, and delivery.
III Analysis of Core Businesses
Overview:
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
12
BOE Technology Group Co., Ltd. Interim Report 2022
Change
Item H1 2022 H1 2021 Main reason for change
(%)
Demand for semiconductor
display lingered at low levels,
and major panel products
Operating revenue 91,610,241,869.00 108,618,018,710.00 -15.66%
experienced falling prices,
leading to a decline in
operating revenue.
Cost of sales 74,499,068,362.00 75,420,407,266.00 -1.22% N/A
Selling expense 1,862,479,468.00 2,295,547,697.00 -18.87% N/A
Administrative expense 2,948,599,229.00 3,245,612,412.00 -9.15% N/A
Decreased net interest
Finance costs 654,112,804.00 1,758,296,231.00 -62.80% expense in the Reporting
Period
Income tax expense 1,681,324,244.00 2,260,425,038.00 -25.62% N/A
R&D investments 5,689,976,471.00 5,535,141,416.00 2.80% N/A
Net cash generated from/used in
28,112,000,665.00 32,787,642,867.00 -14.26% N/A
operating activities
Net cash generated from/used in
-22,841,690,510.00 -21,356,987,489.00 - N/A
investing activities
Increased cash inflows from
Net cash generated from/used in
-3,178,244,904.00 -12,633,974,318.00 - borrowings received during
financing activities
the Reporting Period
Increased cash inflows from
Net increase in cash and cash
3,181,592,619.00 -1,723,109,268.00 - borrowings received during
equivalents
the Reporting Period
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 2022 H1 2021
As % of Change
Item As % of total
total (%)
Operating revenue operating Operating revenue
operating
revenue (%)
revenue (%)
Total 91,610,241,869.00 100% 108,618,018,710.00 100% -15.66%
By operating division
Display devices 82,641,917,513.00 90.21% 100,644,922,831.00 92.66% -17.89%
IoT innovation 13,490,882,043.00 14.73% 13,321,094,890.00 12.26% 1.27%
Sensor and solution 103,681,585.00 0.11% 79,166,852.00 0.07% 30.97%
MLED 411,634,393.00 0.45% 274,144,781.00 0.25% 50.15%
Smart medical
1,044,238,829.00 1.14% 863,981,458.00 0.80% 20.86%
engineering
Others and offset -6,082,112,494.00 -6.64% -6,565,292,102.00 -6.04% -7.36%
By product category
Display devices 82,641,917,513.00 90.21% 100,644,922,831.00 92.66% -17.89%
IoT innovation 13,490,882,043.00 14.73% 13,321,094,890.00 12.26% 1.27%
Sensor and solution 103,681,585.00 0.11% 79,166,852.00 0.07% 30.97%
MLED 411,634,393.00 0.45% 274,144,781.00 0.25% 50.15%
Smart medical
1,044,238,829.00 1.14% 863,981,458.00 0.80% 20.86%
engineering
Others and offset -6,082,112,494.00 -6.64% -6,565,292,102.00 -6.04% -7.36%
By operating segment
Mainland China 37,391,483,962.00 40.81% 50,358,289,184.00 46.36% -25.75%
Other regions in Asia 37,757,230,449.00 41.22% 44,464,483,584.00 40.94% -15.08%
13
BOE Technology Group Co., Ltd. Interim Report 2022
Europe 2,914,549,849.00 3.18% 3,602,389,524.00 3.32% -19.09%
America 13,503,340,713.00 14.74% 10,094,599,107.00 9.29% 33.77%
Other regions 43,636,896.00 0.05% 98,257,311.00 0.09% -55.59%
Operating division, product category or operating segment contributing over 10% of operating revenue or operating profit:
Applicable □ Not applicable
Unit: RMB
YoY change
YoY change YoY change
Gross profit in gross
Item Operating revenue Cost of sales in operating in cost of
margin profit
revenue (%) sales (%)
margin (%)
By operating division
Display devices 82,641,917,513.00 69,884,436,495.00 15.44% -17.89% -3.40% -12.68%
IoT innovation 13,490,882,043.00 12,263,288,192.00 9.10% 1.27% 3.87% -2.27%
By product category
Display devices 82,641,917,513.00 69,884,436,495.00 15.44% -17.89% -3.40% -12.68%
IoT innovation 13,490,882,043.00 12,263,288,192.00 9.10% 1.27% 3.87% -2.27%
By operating segment
Mainland China 37,391,483,962.00 29,333,965,536.00 21.55% -25.75% -18.68% -6.82%
Other regions in
37,757,230,449.00 30,966,230,745.00 17.99% -15.08% 4.53% -15.39%
Asia
America 13,503,340,713.00 11,568,639,131.00 14.33% 33.77% 70.49% -18.45%
Core business data of the prior year restated according to the changed statistical caliber for the Reporting Period:
□ Applicable Not applicable
IV Analysis of Non-Core Businesses
Applicable □ Not applicable
Unit: RMB
As % of total Recurrent
Item Amount Source/Reason
profit or not
Return on investment 646,167,675.00 13.20% Income recognized from associates Not
Gain/loss on changes
77,771,038.00 1.59% N/A Not
in fair value
Inventory valuation allowances
Asset impairments -4,528,459,543.00 -92.53% Not
established based on market conditions
Non-operating income 99,586,182.00 2.03% N/A Not
Non-operating expense 17,425,496.00 0.36% N/A Not
14
BOE Technology Group Co., Ltd. Interim Report 2022
V Analysis of Assets and Liabilities
1. Material Changes in Asset Composition
Unit: RMB
30 June 2022 31 December 2021 Change in Reason for
Item
Amount As % of total assets Amount As % of total assets percentage (%) material change
Monetary assets 84,788,918,128.00 19.00% 80,986,835,088.00 17.99% 1.01% N/A
Accounts receivable 25,711,089,557.00 5.76% 35,503,414,820.00 7.89% -2.13% N/A
Contract assets 88,068,862.00 0.02% 75,698,324.00 0.02% 0.00% N/A
Inventories 33,018,794,213.00 7.40% 27,805,161,436.00 6.18% 1.22% N/A
Investment property 1,137,543,991.00 0.25% 1,158,365,401.00 0.26% -0.01% N/A
Long-term equity
6,646,019,274.00 1.49% 6,040,948,317.00 1.34% 0.15% N/A
investments
Fixed assets 214,032,994,330.00 47.96% 227,141,366,885.00 50.45% -2.49% N/A
Construction in progress 40,146,851,520.00 9.00% 32,099,711,879.00 7.13% 1.87% N/A
Right-of-use assets 879,444,501.00 0.20% 753,164,237.00 0.17% 0.03% N/A
Short-term borrowings 2,766,638,569.00 0.62% 2,072,057,332.00 0.46% 0.16% N/A
Contract liabilities 3,306,387,693.00 0.74% 3,765,081,554.00 0.84% -0.10% N/A
Long-term borrowings 123,858,634,582.00 27.75% 116,078,666,587.00 25.78% 1.97% N/A
Lease liabilities 747,894,221.00 0.17% 669,130,264.00 0.15% 0.02% N/A
2. Major Assets Overseas
□ Applicable Not applicable
15
BOE Technology Group Co., Ltd. Interim Report 2022
3. Assets and Liabilities at Fair Value
Applicable □ Not applicable
Unit: RMB
Gain/loss on fair- Impairment
Cumulative fair-
value changes in allowance for Purchased in the Sold in the Other
Item Beginning amount value changes Ending amount
the Reporting the Reporting Reporting Period Reporting Period changes
charged to equity
Period Period
Financial assets
1. Held-for-trading
financial assets
10,635,068,300.00 77,771,038.00 0.00 0.00 42,272,000,000.00 35,581,000,000.00 0.00 17,317,207,971.00
(excluding derivative
financial assets)
2.Derivative financial
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
assets
3. Investments in
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
other debt obligations
4. Investments in
other equity 519,088,146.00 0.00 -197,519,293.00 0.00 18,036,272.00 0.00 0.00 550,228,080.00
instruments
Subtotal of financial
11,154,156,446.00 77,771,038.00 -197,519,293.00 0.00 42,290,036,272.00 35,581,000,000.00 0.00 17,867,436,051.00
assets
Investment property 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Productive living
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
assets
Others 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total of the above 11,154,156,446.00 77,771,038.00 -197,519,293.00 0.00 42,290,036,272.00 35,581,000,000.00 0.00 17,867,436,051.00
Financial liabilities 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Contents of other changes:
N/A
Significant changes to the measurement attributes of the major assets in the Reporting Period:
□ Yes No
16
BOE Technology Group Co., Ltd. Interim Report 2022
4. Restricted Asset Rights as at the Period-End
Unit: RMB
Item Ending carrying value Reason for restriction
Monetary assets 4,740,547,715.00 Mainly margin deposit
Endorsed and transferred with right of
Notes receivable 110,215,838.00 recourse, and put in pledge for the
issuance of notes payable
Inventories 0.00 N/A
Fixed assets 151,628,122,893.00 Mortgaged as collateral
Intangible assets 1,477,181,999.00 Mortgaged as collateral
Construction in progress 453,776,871.00 Mortgaged as collateral
Investment property 40,313,449.00 Mortgaged as collateral
Total 158,450,158,765.00
VI Investments Made
1. Total Investments Made
Applicable □ Not applicable
Investments made in this Reporting Investments made in the same period of
Change（%）
Period (RMB) last year (RMB)
252,036,272.00 796,092,446.00 -68.34%
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
17
BOE Technology Group Co., Ltd. Interim Report 2022
4. Financial Investments
(1) Securities Investments
Applicable □ Not applicable
Unit: RMB
Profit/loss
on fair Cumulative
Purchased Sold in
Accounting value fair value Profit/loss in
Variety of Code of Name of Initial Beginning in this this Ending carrying Accounting Funding
measurement changes changes this Reporting
securities securities securities investment cost carrying value Reporting Reporting value title source
model in this charged to Period
Period Period
Reporting equity
Period
Domestic/ Other equity
Electronic Fair value Self-
overseas SH600658 90,160,428.00 56,638,836.00 0.00 -32,971,701.00 0.00 0.00 206,209.00 57,188,727.00 instrument
Zone method funded
stock investment
Domestic/ Other equity
Bank of Fair value Self-
overseas HK01963 120,084,375.00 91,875,688.00 0.00 -30,022,420.00 0.00 0.00 9,563,780.00 90,061,955.00 instrument
Chongqing method funded
stock investment
Domestic/ New - Other equity
Fair value Self-
overseas HK01518 Century 140,848,850.00 19,810,485.00 0.00 124,529,381.0 0.00 0.00 0.00 16,319,469.00 instrument
method funded
stock Healthcare 0 investment
Other securities investments held at the
0.00 -- 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -- --
period-end
-
Total 351,093,653.00 -- 168,325,009.00 0.00 187,523,502.0 0.00 0.00 9,769,989.00 163,570,151.00 -- --
0
(2) Investments in Derivative Financial Instruments
Applicable □ Not applicable
Unit: RMB’0,000
Relationship Related- Initial Beginning Purchased Sold in Impairment Ending Ending Actual
Type of Start End
Counterparty with the party investment investment in the the allowance investment investment gain/loss
derivative date date
Company transaction amount amount Reporting Reporting (if any) amount amount in the
18
BOE Technology Group Co., Ltd. Interim Report 2022
or not Period Period as % of the Reporting
Company’s Period
ending net
asset value
Foreign 1 30
Financial Not related exchange
Not 77,145.97 January June 77,145.97 0.00 40,233.27 0.00 36,912.70 0.26% 191.48
institutions parties forward
contract 2022 2022
Total 77,145.97 -- -- 77,145.97 0.00 40,233.27 0.00 36,912.70 0.26% 191.48
Funding source Self-funded
Legal matters involved (if applicable) N/A
As of the end of the reporting period, the financial derivatives held by the company are foreign exchange forward contracts, and
Analysis of risks and control measures associated with the
the risks faced are related to the uncertainty of the foreign exchange market in the future. The company's control measures for
derivative investments held in the Reporting Period
the financial derivatives are as follows: the company controls the types of derivative transactions, reasonably matches the scale
(including but not limited to market, liquidity, credit,
of derivative transactions, and the transactions must match the company's production, operation and development planning,
operational and legal risks, etc.)
mainly for the purpose 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
should include measurement methods and related quotation of the external financial institutions.
assumptions and parameters)
Significant changes in accounting policies and specific
accounting principles adopted for derivative investments in No major changes
the Reporting Period compared to the last reporting period
Opinion of independent directors on derivative investments
N/A
and risk control
5. Use of Funds Raised
Applicable □ Not applicable
(1) Overall Usage of Funds Raised
Applicable □ Not applicable
Unit: RMB’0,000
Total funds Proportion of Amount of
Total funds Accumulative Total The usage and
Total funds used in the Accumulative accumulative funds raised
Year Way of raising with usage funds with usage unused destination of
raised Current fund used funds with usage idle for over
changed changed funds unused funds
Period changed two years
2021 Private 2,033,260 90,928 1,840,745 0 0 0.00% 192,515 Continuously 0
19
BOE Technology Group Co., Ltd. Interim Report 2022
placement of used for the
stocks construction of
equity investment
project
Renewable
2022 200,000 200,000 200,000 0 0 0.00% 0 N/A 0
corporate bonds
Total -- 2,233,260 290,928 2,040,745 0 0 0.00% 192,515 -- 0
Explanation of overall usage of funds raised
The Company raised RMB2,000,000,000 from the above-mentioned offering of renewable corporate bonds during the Reporting Period, and the net proceeds exclusive of issuance costs were
RMB1,989,000,000, which would be used for capital increase to subsidiary and replenishing the working capital. The raised funds of RMB2,000,000,000 have been used up in the Reporting
Period, conforming to the provisions of the prospectus.
The cumulative amount of raised funds through private placement of stocks was RMB20,332,599,995.83, and the net proceeds after deducting issuance costs were RMB19,869,507,400. In the
Reporting Period, the raised funds were used according to project investment plans, conforming to the relevant promise.
(2) Commitment Projects of Fund Raised
Applicable □ Not applicable
Unit: RMB’0,000
Investment Whether
Changed or Date of Realized
Committed Investment Investment Accumulative schedule as Whether occurred
not Committed reaching income in
investment project amount after amount in the investment the period- reached significant
(including investment intended the
and super raise fund adjustment Reporting amount as of the anticipated changes in
partial amount end (3)＝ use of the Reporting
arrangement (1) Period period-end (2) income project
changes) (2)/(1) project Period
feasibility
Committed investment project
Fuzhou BOE
Optoelectronics Not 300,000 300,000 0 300,000 100.00% - - N/A Not
Technology Co., Ltd.
Wuhan BOE
Optoelectronics Not 650,000 650,000 0 650,000 100.00% - - N/A Not
Technology Co., Ltd.
Chongqing BOE
Display Technology Not 600,000 600,000 88,035 508,365 84.73% - - N/A Not
Co., Ltd.
Yunnan Chuangshijie
Optoelectronics Not 100,000 100,000 0 0 0.00% - - N/A Not
Technology Co., Ltd.
Chengdu BOE
Not 50,000 50,000 2,893 49,120 98.24% - - N/A Not
Hospital Co., Ltd.
Supplementation of Not 286,951 286,951 0 286,951 100.00% - - N/A Not
20
BOE Technology Group Co., Ltd. Interim Report 2022
working capital
Chengdu BOE
Optoelectronics Not 100,000 100,000 100,000 100,000 100.00% - - N/A Not
Technology Co., Ltd.
Wuhan BOE
Optoelectronics Not 90,000 90,000 90,000 90,000 100.00% - - N/A Not
Technology Co., Ltd.
Supplementation of
Not 10,000 8,900 8,900 8,900 100.00% - - N/A Not
working capital
Subtotal of
committed -- 2,186,951 2,185,851 289,828 1,993,336 -- -- - -- --
investment project
Super raised funds arrangement
N/A
Total -- 2,186,951 2,185,851 289,828 1,993,336 -- -- - -- --
Condition and reason
for not reaching the
schedule and N/A
anticipated income
(by specific items)
Notes of condition of
significant changes
N/A
occurred in project
feasibility
Amount, usage and
schedule of super N/A
raise fund
Changes in
implementation
N/A
address of investment
project
Adjustment of
implementation mode N/A
of investment project
Advance investments Applicable
in projects financed As at 30 June 2022, the funds raised through Phase I of renewable corporate bonds of 2022 were used to swap with advance project investments of RMB1.9 billion.
with raised funds and
As at 30 June 2022, the Company had replaced the prior invested funds of the committed investment projects with the raised funds from the non-public offering of
swaps of such
advance investments shares for a total amount of RMB6,023.0660 million . Of these, RMB3 billion was to replace the Company's own funds invested in repaying the loan of Fuzhou Urban
with subsequent Construction Investment Group. RMB250 million was to replace the own funds invested in BOE Health Investment Management Company Limited, and
raised funds RMB2,773.0660 million was to replace the own funds invested in Chongqing BOE Display Technology Co., Ltd.
Idle fund
supplementing the N/A
current capital
21
BOE Technology Group Co., Ltd. Interim Report 2022
temporarily
Applicable
Amount of surplus in As at 30 June 2022, the funds raised through the renewable corporate bonds have been used up, with a balance of RMB3.2148 million in the raised funds account,
project which was the interest income generated during the deposit period.
implementation and As at 30 June 2022, the balance of the raised funds from the non-public offering of shares was RMB1,987.1914 million, representing the unused raised funds and
the reasons interest income generated during the deposit period.
Usage and
destination of unused As at 30 June 2022, the unspent raised funds will be paid for the purposes specified in the Issuance Report and Listing Notice.
funds
Problems incurred in
fund using and
N/A
disclosure or other
condition
(3) Changes in Items of Funds Raised
□ Applicable Not applicable
No such cases in the Reporting Period.
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
VIII Main Controlled and Joint Stock Companies
Applicable □ Not applicable
22
BOE Technology Group Co., Ltd. Interim Report 2022
Main subsidiaries and joint stock companies with an over 10% influence on the Company’s net profit
Unit: RMB
Relationship
Principal activities Registered
Name with the Total assets Net assets Operating revenue Operating profit Net profit
capital
Company
R&D, Production, and
sales of semi-conductor
Chongqing BOE display device, complete
Optoelectronics machine, and relevant
Subsidiary 19,226,000,000 51,086,339,315.00 42,050,779,329.00 14,584,108,287.00 4,735,993,509.00 4,022,938,055.00
Technology Co., products; import and
Ltd. export business and
technology consulting of
goods.
Investment construction,
Fuzhou BOE
R&D, Production, and
Optoelectronics
Subsidiary sales of relevant products 17,600,000,000 30,373,168,281.00 23,361,695,160.00 7,503,816,684.00 1,111,851,720.00 950,620,453.00
Technology Co.,
of TFT-LCD and its
Ltd.
matching products.
Hefei Xinsheng Investment construction,
R&D, Production, and
Optoelectronics
Subsidiary sales of relevant products 19,500,000,000 33,048,144,814.00 24,091,526,663.00 9,490,240,470.00 819,647,212.00 699,264,696.00
Technology Co., of TFT-LCD and its
Ltd. matching products.
Subsidiaries obtained or disposed in this Reporting Period
□ Applicable Not applicable
Information about major majority- and minority-owned subsidiaries:
N/A
IX Structured Bodies Controlled by the Company
□ Applicable Not applicable
X Risks Facing the Company and Countermeasures
Due to the challenges brought about by the pandemic and the ever-changing environment, the uncertainty of the global political and business environment continued to increase and the macro
environment was extraordinarily severe and complex. International geopolitical turbulence continued while inflation was spiking around the world, forcing central banks of many countries to
23
BOE Technology Group Co., Ltd. Interim Report 2022
regulate their economies through interest rate hikes, RRR cuts and other methods. However, the recovery of the global economy remained weak, dampening consumer confidence. Facing such an
environment, the Company withstood the pressure, insisted on guaranteeing the resource input into technology, continuously enhanced its technological strength and deepened the strategic
cooperation with upstream and downstream partners to overcome the current difficulties with joint efforts. Meanwhile, the Company continued to pursue innovation-driven development,
accelerated the IoT transformation, and actively promoted the building of a safe and sound industrial ecology to respond to the impact of the external environment on all fronts.
24
BOE Technology Group Co., Ltd. Interim Report 2022
Part IV Corporate Governance
I Annual and Extraordinary General Meeting Convened during the Reporting Period
1. General Meetings Convened during the Reporting Period
Investor
Convened Disclosure
Meeting Type participati Meeting resolutions
date date
on ratio
The following reports and proposals were deliberated and
approved, i.e., Report on the Work of the Board of Directors
for 2021, Report on the Work of the Board of Supervisors for
2021, Full Annual Report and Summary for 2021, Financial
Final Report for 2021 and Business Plan for 2022, Proposal
for the Distribution of Profits for 2021, Proposal on Borrowing
and Credit Line, Proposal on the Development of Structured
Deposits and Other Principal-protected Business, Proposal on
Provision of Guarantee by A Subsidiary of Beijing BOE
The 2021 Energy Technology Co., Ltd. for the 200,000 kW Photovoltaic
Annual
Annual 28 April 29 April
General 24.61% Project of Sonid Right Banner, Proposal on Provision of
General 2022 2022
Meeting Guarantee for BOE Vision Electronic Technology Co., Ltd.,
Meeting
Proposal on the Intended Appointment of an Audit Agency for
2022, Proposal on Repurchase of Domestic Listed Foreign
Investment Shares (B Share) of the Company, Proposal on
Purchase of Liability Insurance for Directors, Supervisors, and
Senior Managers, Proposal on the Amendment of the Articles
of Association of the Company and other Policies, Proposal on
the Amendment of the Rules of Procedure for the Supervisory
Committee, Election of Non-Independent Directors, Election
of Independent Directors, and Election of Supervisors.
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
Wang Jing Director Resigned 17 March 2022 Voluntary resignation
Resigned upon expiry Resigned upon expiry
Song Jie Director 28 April 2022
of tenure of tenure
Resigned upon expiry Resigned upon expiry
Hu Xiaolin Independent Director 28 April 2022
of tenure of tenure
Resigned upon expiry Resigned upon expiry
Li Xuan Independent Director 28 April 2022
of tenure of tenure
Chairman of the Resigned upon expiry Resigned upon expiry
Yang Xiangdong 28 April 2022
Supervisory Committee of tenure of tenure
Resigned upon expiry Resigned upon expiry
Wei Shuanglai Supervisor 28 April 2022
of tenure of tenure
25
BOE Technology Group Co., Ltd. Interim Report 2022
Resigned upon expiry Resigned upon expiry
Chen Xiaobei Supervisor 28 April 2022
of tenure of tenure
Resigned upon expiry Resigned upon expiry
Shi Hong Supervisor 28 April 2022
of tenure of tenure
Resigned upon expiry Resigned upon expiry
He Daopin Employee Supervisor 28 April 2022
of tenure of tenure
Resigned upon expiry Resigned upon expiry
Yao Xiangjun Senior management 28 April 2022
of tenure of tenure
Resigned upon expiry Resigned upon expiry
Zhang Zhaohong Senior management 28 April 2022
of tenure of tenure
Resigned upon expiry Resigned upon expiry
Zhong Huifeng Senior management 28 April 2022
of tenure of tenure
Fan Yuanning Director Elected 28 April 2022 Elected
Guo He Independent Director Elected 28 April 2022 Elected
Wang Duoxiang Independent Director Elected 28 April 2022 Elected
Chairman of the
Wang Jin Elected 28 April 2022 Elected
Supervisory Committee
Shi Xiaodong Supervisor Elected 28 April 2022 Elected
Xu Jinghe Supervisor Elected 28 April 2022 Elected
Wang Xiping Senior management Appointed 28 April 2022 Appointed
Yang Xiaoping Senior management Appointed 28 April 2022 Appointed
III Interim Dividend Plan
□ Applicable Not applicable
The Company has no interim dividend plan, either in the form of cash or stock.
IV Equity Incentive Plans, Employee Stock Ownership Plans or Other Incentive Measures for
Employees
Applicable □ Not applicable
1. Equity Incentives
The Company held the 15th Meeting of the 9th Board of Directors and the 2nd Extraordinary General Meeting of 2020 on 27 August
2020 and 17 November 2020 respectively and deliberated and approved the 2020 Stock Option and Restricted Stock Grant Program,
in which the Company intends to implement the Equity Incentive Scheme, including both the Stock Option Incentive Scheme and the
Restricted Stock Incentive Scheme. 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 scheme by the Company. Following the approval of the Proposal on the First Grant of Stock Options
and Restricted Shares to Incentive Objects at the 20th Meeting of the 9th Board of Directors and the 8th Meeting of the 9th Supervisory
Committee, 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. Following the approval of the Proposal on
the Awarding of Reserved Stock Options to Incentive Objects at the 31st Meeting of the 9th Board of Directors and the 13th Meeting
of the 9th Supervisory Committee, the Company disclosed the Announcement on Completion of Registration of the Reserved and
Granted Stock Option of the 2020 Stock Option and Restricted Stock Incentive Scheme (Announcement No.: 2021-084) on 23 October
2021. The Company disclosed the Announcement on Adjustment of the Exercise Price of the Stock Option and the Restricted Share
26
BOE Technology Group Co., Ltd. Interim Report 2022
Repurchase Price in the 2020 Stock Option and Restricted Stock Incentive Scheme of the Company (Announcement No.: 2022-059)
on 30 August 2022. Since the equity distribution of the Company for 2021 has been completed, the restricted share repurchase price
involved in this incentive scheme is adjusted from RMB2.62/share to RMB2.41/share, the exercise price of the first grant of the stock
option is adjusted from RMB5.33/share to RMB5.12/share, and the exercise price of the reserved and granted stock option is adjusted
from RMB5.83/share to RMB5.62/share. The Company disclosed the Announcement on the Repurchase and Retirement of Certain
Restricted Shares (Announcement No.: 2022-060) and the Announcement on the Cancellation of Certain Stock Options
(Announcement No.: 2022-061) on 30 August 2022, in which the Company intends to repurchase and cancel 6,153,700 shares of
restricted shares and cancel a total of 24,073,200 shares of stock options in this incentive scheme that have been awarded to incentive
objects but have not been exercised by them since some incentive objects voluntarily resigned for personal reasons.
2. Implementation of Employee Stock Ownership Plans
□ Applicable Not applicable
3. Other Incentive Measures for Employees
□ Applicable Not applicable
27
BOE Technology Group Co., Ltd. Interim Report 2022
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
Name
Number
of Distribution Discharge Approved
Name of Way of of Discharge Total Excessive
major of discharge standards total
polluter discharge discharge concentration discharge discharge
pollut outlets implemented discharge
outlets
ants
COD Standard 94 mg/L 500mg/l 132t 828.418t None
emission
Beijing BOE
Amm after being Northwest
Optoelectronics
onia treated by 1 corner of
Technology
sewage factory 2.85 mg/L 45 mg/L 4.07t 59.173t None
Co., Ltd. nitrog
en treatment
system
The 4.5
Standard
generation TFT- COD 142.98mg/L 500mg/l 69.43t 607.66t None
emission
LCD production
after being
line of Chengdu North side of
Amm treated by 1
BOE factory
onia sewage
Optoelectronics 18.80mg/L 45mg/L 9.21t 54.69t None
nitrog treatment
Technology
en system
Co., Ltd.
Standard
COD 35.39mg/L 380mg/L 63.52t 1081.55t None
emission
Hefei BOE
after being Northwest
Optoelectronics Amm
treated by 1 corner of
Technology onia
sewage factory 1.92mg/L 30mg/L 3.47t 101.23t None
Co., Ltd. nitrog
treatment
en
system
COD 1 (main 135.56mg/L 500mg/l 337.5t 1570.32t None
discharge
Amm East gate of
Standard outlet of
onia factory
emission wastewate 20.04mg/L 45mg/l 49.78t 183.20t None
Beijing BOE nitrog
after being r)
Display en
treated by
Technology Co., 1(S2
COD sewage 47.83mg/L 500mg/l 2.00t 80.76t None
Ltd. Phase II
treatment South gate of
Amm discharge
system dormitory
onia outlet of
area 24.8mg/L 45mg/l 1.91t 6.06t None
nitrog sanitary
en sewage)
Standard
COD emission 128.5mg/L 350mg/L 382.13t 3135.04t None
Hefei Xinsheng
after being
Optoelectronics Amm Northeast side
treated by 1
Technology Co., onia of factory
sewage 8.47mg/L 35mg/L 24.89t 313.5t None
Ltd. nitrog treatment
en system
Standard
COD 108.34mg/L 500mg/L 71.067t 713.81t None
Erdos emission
Yuansheng Amm after being North side of
1
Optoelectronics onia treated by factory
Co., Ltd. sewage 3.98mg/L 45mg/L 1.27t 2.635t None
nitrog
en treatment
28
BOE Technology Group Co., Ltd. Interim Report 2022
system
The 6th
generation COD 47.27mg/L 500mg/L 88.557t 2443.16t None
Standard
flexible
emission
AMOLED
after being
production line North side of
Amm treated by 1
of Chengdu factory
onia sewage
BOE 18.14mg/L 45mg/L 33.727t 203.53t None
nitrog treatment
Optoelectronics
en system
Technology
Co., Ltd.
Standard
Chongqing COD emission 100.87mg/L 400mg/L 193.098t 1900.24t None
BOE after being
Amm South side of
Optoelectronics treated by 1
onia factory
Technology sewage 4.37mg/L 30mg/L 8.345t 146.17t None
Co., Ltd. nitrog treatment
en system
COD Standard 62.83mg/L 400mg/L 325.76t 4759.56t None
emission
Hefei BOE
Amm after being
Display North side of
onia treated by 1
Technology Co., factory
sewage 14.92mg/L 35mg/L 77.57t 416.46t None
Ltd. nitrog
en treatment
system
Standard
COD 12.89mg/L 500mg/L 32.14t 297.50t None
emission
Fuzhou BOE
after being
Optoelectronics Amm Northeast side
treated by 1
Technology onia of factory
sewage 0.26mg/L 45mg/L 0.66t 29.75t None
Co., Ltd. nitrog
treatment
en
system
Standard
COD emission 21.59mg/L 500mg/L 32.56t 7125.85t None
Mianyang BOE
after being
Optoelectronics Amm North side of
treated by 1
Technology onia factory
sewage 1.57mg/L 45mg/L 2.37t 368.58t None
Co., Ltd. nitrog treatment
en system
Standard
COD 8.54mg/L 400mg/L 8.21t 4171.2t None
emission
Chongqing
after being
BOE Display Amm North side of
treated by 1
Technology Co., onia factory
sewage 1.41mg/L 35mg/L 0.68t 398.4t None
Ltd. nitrog
treatment
en
system
Standard
COD 58.22mg/L 500mg/L 281.08t 2413.73t None
emission
Wuhan BOE
after being Northeast
Optoelectronics Amm
treated by 1 corner of
Technology onia
sewage factory 5.97mg/L 45mg/L 28.84t 217.24t None
Co., Ltd. nitrog
treatment
en
system
Standard
COD 94.2mg/L 500mg/L 172.45t 2215.01t None
emission
Nanjing BOE
after being
Display Amm South side of
treated by 1
Technology Co., onia factory
sewage 3.6mg/L 45mg/L 25.69t 183.67t None
Ltd. nitrog
treatment
en
system
Standard
COD 130.53mg/L 500mg/L 74.79t 4310.1t None
Chengdu CEC emission
Northwest
Panda Display Amm after being
1 corner of
Technology Co., onia treated by
factory 20.19mg/L 45mg/L 11.97t 148.8t None
Ltd. nitrog sewage
en treatment
29
BOE Technology Group Co., Ltd. Interim Report 2022
system
Discharged
COD 174.148mg/L 500mg/L 6.965t 88.491t None
into sewage
BOE (Hebei)
treatment
Mobile Display Amm North side of
plant 1
Technology Co., onia factory
through 8.812mg/L 45mg/L 0.364t 7.754t None
Ltd. nitrog
municipal
en
pipes
Industrial
and
COD 63.5mg/L 500mg/L 3.4t domestic None
sewage of
the project,
upon
treatment, is
discharged
to the
Standard industrial
Yunnan emission sewage
Chuangshijie after being Northwest plant of
Optoelectronics treated by 1 corner of Linkong
Technology Amm sewage factory Industrial
Co., Ltd. onia treatment Park in
system 10.9mg/L 45mg/L 0.27t None
nitrog Dianzhong
en New Zone,
Kunming,
Yunnan
Province
and included
in the total
discharge of
the sewage
plant.
Standard
COD emission 104mg/L 500mg/L 0.58t 11.114t None
BOE after being Northwest
Technology Amm treated by 1 corner of
Group Co., Ltd. onia sewage factory 3.59mg/L 45mg/L 0.02t 0.341t None
nitrog treatment
en system
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 subsidiaries and push forward the implementation of environment management.
Currently, the waste water which is generated by each subsidiary 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 subsidiary mainly comes from technology exhaust gas during production process,
30
BOE Technology Group Co., Ltd. Interim Report 2022
generally including 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, 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 subsidiary 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 by
subsidiaries 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 subsidiary formulates various management methods such as water pollution management standard, 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
Every subsidiary of the Company has formulated, updated and filed corresponding contingency plan for emergent environmental
incidents in local environmental protection departments according to their requirements. However, such contingency plan 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
Influence on
Rectification
Name Reason Case Result production and
measures
operation
N/A N/A N/A N/A N/A N/A
Other environment information that should be disclosed
No
Measures taken to decrease carbon emission in the Reporting Period and corresponding effects
Applicable □ Not applicable
31
BOE Technology Group Co., Ltd. Interim Report 2022
In the first half of 2022, to respond to the national goal to peak carbon emissions before 2030 and reach carbon neutrality before 2060,
the Company promoted the unified planning and effective implementation of carbon emission peak and carbon neutrality, clearly raised
a carbon emission management policy featuring "comprehensive coordination, continuous reduction in carbon emissions, value
extension and green development", and formulated measurable carbon emission management goals to continuously improve the
Company's performance in the management of carbon emission.
On the basis of the "624" action plan for peaking carbon emissions raised at the end of 2021, in the first half of 2022, the Company
coordinated all relevant undertakings and professional organisations, refined core projects for peak carbon emissions, implemented
specific action plans, and effectively advanced carbon emission peak and carbon neutrality by means of green management, green
products, green manufacturing, green recycling, green investment and green actions.
Subsidiaries achieve 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. Results of energy-saving and
emission reduction: The number of energy-saving and emission reduction projects was 264 in total in H1 2022. As at the end of June,
74.2903 million kWh of electricity, 2.7115 million tons of water, 0.1246 million cubic meters of natural gas, 0.3344 million cubic
meters of nitrogen, and 3.6 thousand cubic meters of vapor had been saved.
Meanwhile, in order to cope with the challenges and opportunities brought by carbon trading, subsidiaries in Beijing actively conducted
carbon emission trading and accumulated carbon trading experience to assist the Company in achieving its goals of carbon emission
peak and carbon neutrality.
Other related environment protection information
The Company 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, the Company 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.
32
BOE Technology Group Co., Ltd. Interim Report 2022
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 Term of
Commitment Promisor Details of commitment commitment Fulfillment
commitment commitment
making
Commitments made in share
- - - - - -
reform
Commitments made in
acquisition documents or
- - - - - -
shareholding alteration
documents
Commitments made in time of
- - - - - -
asset restructuring
Commitments made in time of
- - - - - -
IPO or refinancing
Equity incentive commitments - - - - - -
The Chairman of the In accordance with the Announcement on the
Board: Mr. Chen Commitments of not Reducing the Shareholding
Yanshun by Some Directors, Supervisors and Senior
Management (No.: 2020-001) disclosed by the
Vice Chairman of the
Company on 22 February 2020, some of the
Board: Mr. Liu During the term
Company’s directors, supervisors and senior
Xiaodong Director: as director,
managers, based on their confidence in the
Ms. Sun Yun and Mr. supervisor or
Company’s future development and their
Gao Wenbao senior manager,
recognition of the corporate value, promise not to
Other commitments made to Supervisor: Mr. Xu Other 21 February and in six
reduce or transfer any shares held in BOE (A Ongoing
minority interests Yangping, Mr. Yan commitments 2020 months after the
shares), not to entrust others to manage specific
Jun and Mr. Teng Jiao expiration of the
shares, not to authorize others to execute their
term (the term
Senior Management: voting right by means of any agreement, trust or
determined when
Ms. Feng Liqiong, other arrangements and not to require the
taking office).
Mr. Xie Zhongdong, Company to repurchase any specific shares
during the terms of office and within 6 months
Mr. Miao Chuanbin
after their tenures expire so as to promote the
and Mr. Liu Company’s continuous, stable and healthy
Hongfeng development and maintain the rights and
33
BOE Technology Group Co., Ltd. Interim Report 2022
Former Supervisor: interests of the Company and all shareholders.
Mr. He Daopin For any newly-added shares derived from the
assignment of rights and interests including the
Former Senior
share donation and the reserved funds converted
Management: Mr. Yao into share capital during the period
Xiangjun, Mr. Zhang (corresponding to the specific shares), they shall
Zhaohong, and Mr. still keep their promises till the commitment
Zhong Huifeng period expires.
Executed on time or not Yes
Specific reasons for failing to
fulfill commitments on time N/A
and plans for next step (if any)
34
BOE Technology Group Co., Ltd. Interim Report 2022
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.
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
No such cases in the Reporting Period.
Other legal matters:
Applicable □ Not applicable
Index to
General Involved amount Decisions Execution Disclosure
Provision Progress disclosed
information (RMB’0,000) and effects of decisions date
information
Litigations for 30,754.62 No N/A N/A N/A N/A N/A
35
BOE Technology Group Co., Ltd. Interim Report 2022
H1 2022
(including
carryforwards in
previous years )
IX Punishments and Rectifications
□ Applicable Not applicable
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
□ 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 or any other related parties.
6. Transactions with Related Parties by Finance Companies Controlled by the Company
□ Applicable Not applicable
The finance company controlled by the Company did not make deposits, receive loans or credit from and was not involved in any other
36
BOE Technology Group Co., Ltd. Interim Report 2022
finance business with any related parties.
7. Other Major Related-Party Transactions
Applicable □ Not applicable
None
Index to the public announcements about the said related-party transactions disclosed
Title of public announcement 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 Estimated Continuing Related-party Transactions for 2022 31 March 2022 www.cninfo.com.cn
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
37
BOE Technology Group Co., Ltd. Interim Report 2022
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.
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)
Disclosure date of Actual Actual Counter Having Guarantee for
Line of Type of Collateral (if Term of
Obligor the guarantee line occurrence guarantee guarantee (if expired or a related
guarantee guarantee any) guarantee
announcement date amount any) not party or not
N/A
Guarantees provided by the Company as the parent for its subsidiaries
Obligor Disclosure date of Line of Actual Actual Type of Collateral (if Counter Term of Having Guarantee for
38
BOE Technology Group Co., Ltd. Interim Report 2022
the guarantee line guarantee occurrence guarantee guarantee any) guarantee (if guarantee expired or a related
announcement date amount any) not party or not
Ordos YuanSheng
2017-3-17 to
Optoelectronics Co., 2016-11-30 547,315 2017-03-15 155,455 Joint-liability N/A N/A Not Not
Ltd. 2027-3-17
Chengdu BOE
2017-9-6 to
Optoelectronics 2017-04-24 2,251,908 2017-08-30 1,822,921 Joint-liability N/A N/A Not Not
Technology Co., Ltd. 2029-9-6
The secured
party
Hefei BOE Display provides a 2017-9-7 to
2016-11-30 1,657,533 2017-08-30 871,419 Joint-liability N/A Not Not
Technology Co., Ltd. counter 2027-9-7
guarantee for
the guarantor
Fuzhou BOE
2016-12-19 to
Optoelectronics 2015-12-09 1,321,331 2016-11-08 228,554 Joint-liability N/A N/A Not Not
Technology Co., Ltd. 2026-12-19
The secured
party
Mianyang BOE
provides a 2018-9-26 to
Optoelectronics Co., 2018-05-18 2,087,103 2018-09-18 1,969,581 Joint-liability N/A Not Not
counter 2031-9-26
Ltd.
guarantee for
the guarantor
The secured
party
Chongqing BOE
provides a 2020-12-31 to
Display Technology 2020-04-27 2,012,918 2020-12-29 1,049,387 Joint-liability N/A Not Not
counter 2033-12-31
Co., Ltd.
guarantee for
the guarantor
The secured
party
Wuhan BOE
provides a 2019-8-23 to
Optoelectronics 2019-03-25 1,989,932 2019-08-16 1,620,382 Joint-liability N/A Not Not
counter 2032-8-23
Technology Co., Ltd.
guarantee for
the guarantor
The secured
party
Nanjing BOE
provides a 2021-5-12 to
Display Technology 2020-09-23 180,000 2021-05-12 90,000 Joint-liability N/A Not Not
counter 2026-5-31
Co., Ltd.
guarantee for
the guarantor
The secured
Nanjing BOE
party 2021-5-12 to
Display Technology 2020-09-23 120,000 2021-05-12 120,000 Joint-liability N/A Not Not
provides a 2026-6-6
Co., Ltd.
counter
39
BOE Technology Group Co., Ltd. Interim Report 2022
guarantee for
the guarantor
The secured
party
Nanjing BOE
provides a 2021-7-29 to
Display Technology 2020-09-23 105,334 2021-07-29 52,679 Joint-liability N/A Not Not
counter 2025-6-17
Co., Ltd.
guarantee for
the guarantor
The secured
party
Nanjing BOE
provides a 2021-8-13 to
Display Technology 2020-09-23 19,098 2021-08-13 8,750 Joint-liability N/A Not Not
counter 2025-4-28
Co., Ltd.
guarantee for
the guarantor
The secured
party
Nanjing BOE
provides a 2021-12-27 to
Display Technology 2020-09-23 10,500 2021-12-27 7,500 Joint-liability N/A Not Not
counter 2026-8-24
Co., Ltd.
guarantee for
the guarantor
The secured
party
Chengdu BOE provides a 2020-6-15 to
2020-04-27 240,000 2020-06-15 140,309 Joint-liability N/A Not Not
Hospital Co., Ltd. counter 2042-6-30
guarantee for
the guarantor
Total actual amount of such
Total approved line for such guarantees in
0 guarantees in the Reporting -497,572
the Reporting Period (B1)
Period (B2)
Total actual balance of such
Total approved line for such guarantees at
12,542,972 guarantees at the end of the 8,136,938
the end of the Reporting Period (B3)
Reporting Period (B4)
Guarantees provided between subsidiaries
Disclosure date of Actual Actual Counter Having Guarantee for
Line of Type of Collateral (if Term of
Obligor the guarantee line occurrence guarantee guarantee (if expired or a related
guarantee guarantee any) guarantee
announcement date amount any) not party or not
Guangtai Solar Joint-
Equity 2017-12-20 to
Energy Technology N/A 5,450 2017-12-20 3,144 liability, N/A Not Not
interests 2029-4-6
(Suzhou) Co., Ltd. pledge
Joint-
Huanda Trading Equity 2017-6-15 to
N/A 14,600 2017-05-24 8,997 liability, N/A Not Not
(Hebei) Co., Ltd. interests 2031-3-16
pledge
Yangyuan 2020-9-30 to
N/A 3,800 2020-09-30 3,720 Joint-liability N/A N/A Not Not
Photovoltaic Power 2034-9-30
40
BOE Technology Group Co., Ltd. Interim Report 2022
Generation
(Huanggang) Co.,
Ltd.
Yaoguang New
2020-9-30 to
Energy (Shouguang) N/A 3,600 2020-09-30 3,524 Joint-liability N/A N/A Not Not
2034-9-30
Co., Ltd.
Suzhou Industrial
Park Taijing 2020-9-30 to
N/A 2,800 2020-09-30 2,741 Joint-liability N/A N/A Not Not
Photovoltaic Co., 2034-9-30
Ltd.
Qingmei Solar
2020-9-30 to
Energy Technology N/A 3,300 2020-09-30 2,920 Joint-liability N/A N/A Not Not
2034-9-30
(Lishui) Co., Ltd.
Qinghong Solar
2020-9-30 to
Energy Technology N/A 1,700 2020-09-30 1,504 Joint-liability N/A N/A Not Not
2034-9-30
(Jinhua) Co., Ltd.
Qinghui Solar
2020-9-30 to
Energy Technology N/A 1,100 2020-09-30 973 Joint-liability N/A N/A Not Not
2034-9-30
(Jinhua) Co., Ltd.
Hefei Hexu 2020-9-30 to
N/A 400 2020-09-30 392 Joint-liability N/A N/A Not Not
Technology Co., Ltd. 2034-9-30
Hefei Chenneng 2020-9-30 to
N/A 800 2020-09-30 783 Joint-liability N/A N/A Not Not
Technology Co., Ltd. 2034-9-30
Qinghao Solar Joint-
Equity 2017-12-18 to
Energy Technology N/A 890 2017-12-18 633 liability, N/A Not Not
interests 2032-12-18
(Jinhua) Co., Ltd. pledge
Xiangqing Solar Joint-
Equity 2017-12-18 to
Energy Technology N/A 3,476 2017-12-18 2,098 liability, N/A Not Not
interests 2032-12-18
(Dongyang) Co., Ltd pledge
Qingyue Solar Joint-
Equity 2017-12-18 to
Energy Technology N/A 960 2017-12-18 580 liability, N/A Not Not
interests 2032-12-18
(Wuyi) Co., Ltd pledge
Qingyou Solar Joint-
Equity 2017-12-18 to
Energy Technology N/A 2,210 2017-12-18 1,589 liability, N/A Not Not
interests 2032-12-18
(Longyou) Co., Ltd pledge
Qingfan Solar Joint-
Equity 2017-12-18 to
Energy Technology N/A 1,855 2017-12-18 1,120 liability, N/A Not Not
interests 2032-12-18
(Quzhou) Co., Ltd pledge
Taihang Electric
2020-12-3 to
Power Technology N/A 300 2020-12-03 271 Joint-liability N/A N/A Not Not
2034-12-3
(Ningbo) Co., Ltd
Guoji Energy 2020-12-3 to
N/A 1,800 2020-12-03 1,629 Joint-liability N/A N/A Not Not
(Ningbo) Co., Ltd. 2034-12-3
41
BOE Technology Group Co., Ltd. Interim Report 2022
Hongyang Solar
Energy Power 2020-12-3 to
N/A 2,500 2020-12-03 2,262 Joint-liability N/A N/A Not Not
Generation (Anji) 2034-12-3
Co., Ltd.
Ke’en Solar Energy
2020-12-3 to
Power Generation N/A 1,600 2020-12-03 1,448 Joint-liability N/A N/A Not Not
2034-12-3
(Pingyang) Co., Ltd.
Dongze Photovoltaic
2020-12-3 to
Power Generation N/A 1,400 2020-12-03 1,267 Joint-liability N/A N/A Not Not
2034-12-3
(Wenzhou) Co., Ltd.
Aifeisheng
Investment and 2020-12-3 to
N/A 700 2020-12-03 633 Joint-liability N/A N/A Not Not
Management 2034-12-3
(Wenzhou) Co, Ltd.
Beijing BOE Energy Charging 2017-10-24 to
N/A 12,800 2017-10-23 12,455 Pledge N/A Not Not
Technology Co., Ltd. right 2032-10-23
Beijing BOE Energy Charging 2018-9-26 to
N/A 20,560 2018-08-15 14,960 Pledge N/A Not Not
Technology Co., Ltd. right 2032-12-21
Beijing BOE Energy Charging 2017-12-1 to
N/A 25,418 2017-11-28 21,718 Pledge N/A Not Not
Technology Co., Ltd. right 2032-12-1
Hengchuang New
2018-1-31 to
Energy Technology N/A 6,892 2018-01-31 4,871 Joint-liability N/A N/A Not Not
2033-1-31
(Hong’an) Co., Ltd.
Junlong New Energy
2018-4-25 to
Technology N/A 8,459 2018-04-25 6,334 Joint-liability N/A N/A Not Not
2033-4-25
(Huaibin) Co., Ltd.
Shaoxing Guangnian
2018-12-13 to
New Energy Co., N/A 16,000 2018-12-13 13,491 Joint-liability N/A N/A Not Not
2033-12-12
Ltd.
Shaoxing Xuhui New 2018-12-13 to
N/A 4,500 2018-12-13 3,794 Joint-liability N/A N/A Not Not
Energy Co., Ltd. 2033-12-12
Hefei BOE Hospital 2018-4-27 to
2018-04-27 130,000 2018-04-27 124,500 Joint-liability N/A N/A Not Not
Co., Ltd. 2036-4-27
Juhui New Energy 2021-10-27 to
N/A 1,200 2021-10-27 1,125 Joint-liability N/A N/A Not Not
(Pinghu) Co., Ltd. 2036-10-27
Dinghui New Energy 2021-10-27 to
N/A 2,100 2021-10-27 1,969 Joint-liability N/A N/A Not Not
(Zhuji) Co., Ltd. 2036-10-27
Juhui New Energy 2021-10-27 to
N/A 8,700 2021-10-27 8,156 Joint-liability N/A N/A Not Not
(Shaoxing) Co., Ltd. 2036-10-27
The secured
party
Beijing BOE Life provides a 2021-12-29 to
N/A 60,000 2021-12-29 20,000 Joint-liability N/A Not Not
Technology Co., Ltd. counter 2039-12-28
guarantee for
the guarantor
42
BOE Technology Group Co., Ltd. Interim Report 2022
Total actual amount of such
Total approved line for such guarantees in
201,342 guarantees in the Reporting -8,572
the Reporting Period (C1)
Period (C2)
Total actual balance of such
Total approved line for such guarantees at
553,212 guarantees at the end of the 275,603
the end of the Reporting Period (C3)
Reporting Period (C4)
Total guarantee amount (total of the three kinds of guarantees above)
Total actual guarantee amount
Total guarantee line approved in the
201,342 in the Reporting Period -506,144
Reporting Period (A1+B1+C1)
(A2+B2+C2)
Total actual guarantee balance
Total approved guarantee line at the end of
13,096,184 at the end of the Reporting 8,412,541
the Reporting Period (A3+B3+C3)
Period (A4+B4+C4)
Total actual guarantee amount (A4+B4+C4) as % of the Company’s net assets 58.70%
Of which:
Balance of guarantees provided for shareholders, actual controller and their
0
related parties (D)
Balance of debt guarantees provided directly or indirectly for obligors with an
31,545
over 70% debt/asset ratio (E)
Amount by which the total guarantee amount exceeds 50% of the Company’s
1,246,694
net assets (F)
Total of the three amounts above (D+E+F) 1,278,239
Joint responsibilities possibly borne or already borne in the Reporting Period
N/A
for undue guarantees (if any)
Provision of external guarantees in breach of the prescribed procedures (if any) N/A
Compound guarantees
None
43
BOE Technology Group Co., Ltd. Interim Report 2022
3. Cash Entrusted for Wealth Management
Applicable □ Not applicable
Unit: RMB'0,000
Overdue amount
Specific type Capital resources Amount incurred Undue balance Overdue amount with provision for
impairment
Structured bank
Self-owned funds 1,670,000 1,670,000 0 0
deposits
Total 1,670,000 1,670,000 0 0
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. 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)
(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
44
BOE Technology Group Co., Ltd. Interim Report 2022
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 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
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
45
BOE Technology Group Co., Ltd. Interim Report 2022
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
XIV Significant Events of Subsidiaries
□ Applicable Not applicable
46
BOE Technology Group Co., Ltd. Interim Report 2022
Part VII Share Changes and Shareholder Information
I Share Changes
1. Share Changes
Unit: share
Before Increase/decrease (+/-) After
Bonus
Item New Bonus
Number Percentage issue from Other Subtotal Number Percentage
issues shares
profit
I. Restricted shares 3,972,199,930 10.33% 0 0 0 -2,931,809,540 -2,931,809,540 1,040,390,390 2.71%
1. Shares held by the state 0 0.00% 0 0 0 0 0 0 0.00%
2. Shares held by state-owned
1,472,764,818 3.83% 0 0 0 -754,631,964 -754,631,964 718,132,854 1.87%
corporations
3. Shares held by other domestic
1,898,530,477 4.94% 0 0 0 -1,602,922,641 -1,602,922,641 295,607,836 0.77%
investors
Among which: Shares held by
1,603,357,266 4.17% 0 0 0 -1,603,357,266 -1,603,357,266 0 0.00%
domestic corporations
Shares held by
295,173,211 0.77% 0 0 0 434,625 434,625 295,607,836 0.77%
domestic individuals
4. Shares held by foreign
600,904,635 1.56% 0 0 0 -574,254,935 -574,254,935 26,649,700 0.07%
investors
Among which: Shares held by
574,254,935 1.49% 0 0 0 -574,254,935 -574,254,935 0 0.00%
foreign corporations
Shares held by
26,649,700 0.07% 0 0 0 0 0 26,649,700 0.07%
foreign individuals
II. Non-restricted shares 34,473,546,552 89.67% 0 0 0 2,931,809,540 2,931,809,540 37,405,356,092 97.29%
1. RMB ordinary shares 33,537,433,064 87.23% 0 0 0 2,931,809,540 2,931,809,540 36,469,242,604 94.86%
2. Domestically listed foreign
936,113,488 2.43% 0 0 0 0 0 936,113,488 2.43%
shares
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 38,445,746,482 100.00% 0 0 0 0 0 38,445,746,482 100.00%
Reasons for share changes:
47
BOE Technology Group Co., Ltd. Interim Report 2022
Applicable □ Not applicable
During the Reporting Period, 2,932,244,165 shares that had been privately placed in 2021 were unlocked for public trading.
During the Reporting Period, the Company completed the re-election on 28 April 2022, leading to an increase of 434,625 shares in locked up shares held by senior management.
Approval of share changes:
□ Applicable Not applicable
Transfer of share ownership:
□ Applicable Not applicable
Progress on any share repurchase:
Applicable □ Not applicable
1. The Proposal on the Repurchase of Some Public Shares was approved at the 31st Meeting of the 9th Board of Directors on 27 August 2021. As such, the Company was approved to use its own
funds to repurchase some shares by way of centralized bidding within 12 months of the approval of the repurchase plan by the Board of Directors. In reality, the Company carried out the repurchase
plan during the period from 2 September 2021 to 28 February 2022. During the Reporting Period, the Company implemented the repurchase of the Company's shares by means of centralized
bidding through a special securities account for the repurchase, and the total number of A Shares repurchased was 39,580,919, accounting for approximately 0.1055% of the Company's A Shares
and 0.1029% of the Company's total share capital. As of 28 February 2022, the Company 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).
2. The Proposal on the Repurchase of Domestically Listed Foreign Shares (B-shares) was approved item by item at the 39th Meeting of the 9th Board of Directors on 30 March 2022 and the 2021
Annual General Meeting on 28 April 2022. As such, the Company was approved to use its own funds to repurchase B-shares within six months of the approval of the repurchase plan at the 2021
Annual General Meeting. The repurchased shares would be cancelled, which would lead to a corresponding decrease in the registered capital of the Company. As at 30 June 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 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).
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
48
BOE Technology Group Co., Ltd. Interim Report 2022
Item January-December 2021 January-June 2022
Basic earnings per share (RMB/share) 0.71 0.17
Diluted earnings per share (RMB/share) 0.71 0.17
Item 31 December 2021 30 June 2022
Equity per share attributable to the Company’s ordinary shareholders 3.39 3.35
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 Restricted
Restricted shares Restricted shares
shares amount shares amount Restricted shares
Name of the shareholders relieved of the increased of the Restricted reasons
at the period- at the period- relieved date
period period
begin end
Beijing Jing Guorui Soe Reform and Development Fund
718,132,854 0 0 718,132,854 Private placement 2023-02-21
(L.P.)
Fuqing Huirong Venture Capital Co., Ltd. 538,599,640 538,599,640 0 0 - 2022-02-21
MORGAN STANLEY & CO.INTERNATIONAL PLC. 271,095,152 271,095,152 0 0 - 2022-02-21
Caitong Fund - PSBC - Caitong Fund - No. 1 Asset
179,533,214 179,533,214 0 0 - 2022-02-21
Management Plan of Bohai Life in Yuquan
Yiwu Harmonious Jinhong Equity Investment Partnership
179,533,213 179,533,213 0 0 - 2022-02-21
(L.P.)
Shandong Haixiang Equity Investment Fund Management
147,163,387 147,163,387 0 0 - 2022-02-21
Co., Ltd.
Hongta Securities Co., Ltd. 143,626,570 143,626,570 0 0 - 2022-02-21
JPMORGAN CHASE BANK,NATIONAL ASSOCIATION 116,696,588 116,696,588 0 0 - 2022-02-21
Shanghai Gao Yi Asset Management Partnership (L.P.) - Gao
107,719,928 107,719,928 0 0 - 2022-02-21
Yi Xiaofeng No. 2 Zhixin Fund
Haitong Securities Co., Ltd. 99,030,520 99,030,520 0 0 - 2022-02-21
Other non-public offering restricted shareholders 1,149,245,953 1,149,245,953 0 0 - 2022-02-21
Locked shares of
Locked shares of executives 3,038,411 0 434,625 3,473,036 -
executives
Restricted shares for
Restricted shares for equity incentive 318,784,500 0 0 318,784,500 -
equity incentive
Total 3,972,199,930 2,932,244,165 434,625 1,040,390,390 -- --
49
BOE Technology Group Co., Ltd. Interim Report 2022
II Issuance and Listing of Securities
Applicable □ Not applicable
Name of Stock and Approved
issue price Termination date for Disclosure
derivative Issue date Issue amount Listing date amount for Disclosure index
(interest) trading date
securities thereof listing
Stock
N/A
Convertible corporate bonds, convertible corporate bonds separately traded and corporate bonds
2022 Public
Offering of
See the Announcement on the Listing on the
Renewable
Shenzhen Stock Exchange of the 2022 Public
Corporate Bonds of 25 March
3.50% 2,000,000,000 7 April 2022 2,000,000,000 25 March 2025 Offering of Renewable Corporate Bonds of BOE 7 April 2022
BOE (for 2022
(for Professional Investors) (Digital Economy)
professional
(Phase I) disclosed on http://www.cninfo.com.cn/
investors) (Digital
Economy) (Phase I)
Other derivative securities
N/A
Notes: None
III Shareholders and Their Holdings as at the Period-End
Unit: share
Number of ordinary shareholders at the period-end 1,641,390 (including 1,606,920 A-shareholders and 34,470 B-shareholders)
5% or greater ordinary shareholders or top 10 ordinary shareholders
Total ordinary Restricted Unrestricted Shares in pledge,
Nature of Shareholding Increase/decrease in the marked or frozen
Name of shareholder shares held at ordinary shares ordinary shares
shareholder percentage Reporting Period
the period-end held held Status Shares
Beijing State-owned Capital Operation State-owned
10.57% 4,063,333,333 - 0 4,063,333,333 N/A 0
and Management Company Limited legal person
Hong Kong Securities Clearing Foreign legal
3.75% 1,443,583,683 74,585,847 0 1,443,583,683 N/A 0
Company Ltd. person
Beijing BOE Investment & State-owned
2.14% 822,092,180 - 0 822,092,180 N/A 0
Development Co., Ltd. legal person
Beijing Jing Guorui Soe Reform and Other 1.87% 718,132,854 - 718,132,854 0 N/A 0
50
BOE Technology Group Co., Ltd. Interim Report 2022
Development Fund (L.P.)
State-owned
Hefei Jianxiang Investment Co., Ltd. 1.73% 666,195,772 - 0 666,195,772 N/A 0
legal person
Domestic non-
Fuqing Huirong Venture Capital Co.,
state-owned 1.40% 538,599,640 - 0 538,599,640 N/A 0
Ltd.
legal person
Sinatay Life Insurance Co., Ltd.-
Other 0.79% 305,330,128 - 0 305,330,128 N/A 0
Traditional Product
Beijing Yizhuang Investment Holdings State-owned
0.73% 280,721,832 119,131,000 0 280,721,832 N/A 0
Co., Ltd legal person
State-owned
Beijing Electronics Holdings Co., Ltd. 0.71% 273,735,583 - 0 273,735,583 N/A 0
legal person
Domestic non-
Ningxia Risheng High-tech Industry
state-owned 0.67% 257,152,466 147,973,200 0 257,152,466 N/A 0
Co., Ltd. legal person
Strategic investors or general
corporations becoming top-ten
N/A
ordinary shareholders due to placing
of new shares (if any) (see Note 3)
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 disposing right and usufruct of the shares, of which the rest 30%
Related or acting-in-concert parties
voting right maintained unanimous with Beijing Electronics Holdings Co., Ltd. through the agreement according to Implementation Protocol of Voting
among the shareholders above
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.
1. 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
Explain if any of the shareholders
a shareholder.
above was involved in
2. After the non-public issuing of the Company in 2014, Beijing State-owned Capital Operation and Management Company Limited handed over
entrusting/being entrusted with voting
70% of the shares directly held by it to Beijing Electronics Holdings Co., Ltd. for management through Stock Management Protocol, and Beijing
rights or waiving voting rights
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
51
BOE Technology Group Co., Ltd. Interim Report 2022
Right.
3. 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.
At the end of the Reporting Period, among the top ten shareholders of the Company, the special securities account for the repurchase of BOE
Special account for share repurchases
Technology Group Co., Ltd. held 528,186,052 A-shares, accounting for 1.37%. According to relevant regulations in the Rule No. 3 for Content and
(if any) among the top 10 shareholders
Format of Information Disclosure of the Company Issuing Securities Publicly, if there are repurchase accounts in the top ten shareholders of the
(see note 11)
Company, it should be specified, but these shareholders should not be included and listed as the top ten shareholders.
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
4,063,333,333 RMB ordinary share 4,063,333,333
and Management Company Limited
Hong Kong Securities Clearing
1,443,583,683 RMB ordinary share 1,443,583,683
Company Ltd.
Beijing BOE Investment &
822,092,180 RMB ordinary share 822,092,180
Development Co., Ltd.
Hefei Jianxiang Investment Co., Ltd. 666,195,772 RMB ordinary share 666,195,772
Fuqing Huirong Venture Capital Co.,
538,599,640 RMB ordinary share 538,599,640
Ltd.
Sinatay Life Insurance Co., Ltd.-
305,330,128 RMB ordinary share 305,330,128
Traditional Product
Beijing Yizhuang Investment Holdings
280,721,832 RMB ordinary share 280,721,832
Co., Ltd
Beijing Electronics Holdings Co., Ltd. 273,735,583 RMB ordinary share 273,735,583
Ningxia Risheng High-tech Industry
257,152,466 RMB ordinary share 257,152,466
Co., Ltd.
Xu Lili 207,723,497 RMB ordinary share 207,723,497
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.
Related or acting-in-concert parties
4. After the non-public issuing of the Company in 2014, Beijing State-owned Capital Operation and Management Company Limited handed over
among top 10 unrestricted ordinary
70% of the shares directly held by it to Beijing Electronics Holdings Co., Ltd. for management through Stock Management Protocol, and Beijing
shareholders, as well as between top
Electronics Holdings Co., Ltd. gained the incidental shareholders’ rights except for disposing right and usufruct of the shares, of which the rest 30%
10 unrestricted ordinary shareholders
voting right maintained unanimous with Beijing Electronics Holdings Co., Ltd. through the agreement according to Implementation Protocol of Voting
and top 10 ordinary shareholders
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
52
BOE Technology Group Co., Ltd. Interim Report 2022
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, and shareholder
Xu Lili held 174,508,900 shares in the Company via her credit securities account.
Top 10 ordinary shareholders involved 2. The shares held by Beijing Yizhuang Investment Holdings Co., Ltd. in the Company increased by 119,131,000 shares due to securities refinancing.
in securities margin trading (if any) 3. Shareholders Beijing State-owned Capital Operation and Management Company Limited, Beijing BOE Investment & Development Co., Ltd.,
(see Note 4) Beijing Jing Guorui SOE Reform and 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.
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.
53
BOE Technology Group Co., Ltd. Interim Report 2022
IV Change in Shareholdings of Directors, Supervisors and Senior Management
Applicable □ Not applicable
Restricted
Restricted Restricted
Increase Decrease shares
shares shares
Beginning in the in the Ending granted in
Incumbent granted at granted at
Name Office title shareholding Reporting Reporting shareholding the
/Former the period- the period-
(share) Period Period (share) Reporting
beginning end
(share) (share) Period
(share) (share)
(share)
Chairman of
the Board and
Chen
Chairman of Incumbent 2,900,000 0 0 2,900,000 2,000,000 0 2,000,000
Yanshun
the Executive
Committee
Vice
Pan Jinfeng Chairman of Incumbent 0 0 0 0 0 0 0
the Board
Vice
Chairman of
Liu the Board and
Incumbent 2,480,000 0 0 2,480,000 1,800,000 0 1,800,000
Xiaodong member of the
Executive
Committee
Director,
President and
Gao Vice
Incumbent 1,860,700 0 0 1,860,700 1,500,000 0 1,500,000
Wenbao Chairman of
the Executive
Committee
Fan
Director Incumbent 0 0 0 0 0 0 0
Yuanning
Director,
member of the
Executive
Sun Yun Incumbent 1,989,481 0 0 1,989,481 1,500,000 0 1,500,000
Committee
and Executive
Vice President
Ye Feng Director Incumbent 0 0 0 0 0 0 0
Tang Independent
Incumbent 0 0 0 0 0 0 0
Shoulian Director
Zhang Independent
Incumbent 0 0 0 0 0 0 0
Xinmin Director
Independent
Guo He Incumbent 0 0 0 0 0 0 0
Director
Wang Independent
Incumbent 0 0 0 0 0 0 0
Jixiang Director
Chairman of
the
Wang Jin Incumbent 0 0 0 0 0 0 0
Supervisory
Committee
Sun Fuqing Supervisor Incumbent 0 0 0 0 0 0 0
Shi
Supervisor Incumbent 0 0 0 0 0 0 0
Xiaodong
Xu Jinghe Supervisor Incumbent 0 0 0 0 0 0 0
Yan Jun Employee Incumbent 32,000 0 0 32,000 0 0 0
54
BOE Technology Group Co., Ltd. Interim Report 2022
Supervisor
Xu Employee
Incumbent 35,000 0 0 35,000 0 0 0
Yangping Supervisor
Employee
Teng Jiao Incumbent 55,200 0 0 55,200 0 0 0
Supervisor
Member of the
Executive
Wang
Committee Incumbent 852,400 0 0 852,400 750,000 0 750,000
Xiping
and Executive
Vice President
Member of the
Executive
Feng Committee,
Incumbent 1,360,000 0 0 1,360,000 1,000,000 0 1,000,000
Liqiong Executive
Vice President
and CLO
Member of the
Executive
Zhang Yu Committee Incumbent 751,600 0 0 751,600 634,000 0 634,000
and Executive
Vice President
Senior Vice
Yang
President and Incumbent 742,300 0 0 742,300 634,000 0 634,000
Xiaoping
CFO
Senior Vice
President,
Chief Audit
Xie
Officer and Incumbent 1,057,000 0 0 1,057,000 750,000 0 750,000
Zhongdong
Chief Risk
Control
Officer
Senior Vice
Miao President and
Incumbent 758,800 0 0 758,800 650,000 0 650,000
Chuanbin Chief Culture
Officer
Vice President
Liu
and Board Incumbent 1,024,500 0 0 1,024,500 750,000 0 750,000
Hongfeng
Secretary
Wang Jing Director Former 0 0 0 0 0 0 0
Song Jie Director Former 0 0 0 0 0 0 0
Independent
Hu Xiaolin Former 0 0 0 0 0 0 0
Director
Independent
Li Xuan Former 0 0 0 0 0 0 0
Director
Chairman of
Yang the
Former 0 0 0 0 0 0 0
Xiangdong Supervisory
Committee
Wei
Supervisor Former 0 0 0 0 0 0 0
Shuanglai
Chen
Supervisor Former 0 0 0 0 0 0 0
Xiaobei
Shihong Supervisor Former 0 0 0 0 0 0 0
Employee
He Daopin Former 32,600 0 0 32,600 0 0 0
Supervisor
Yao Member of the
Former 1,265,000 0 0 1,265,000 1,000,000 0 1,000,000
Xiangjun Executive
55
BOE Technology Group Co., Ltd. Interim Report 2022
Committee
and Executive
Vice President
Member of the
Executive
Committee,
Zhang
Executive Former 1,498,800 0 0 1,498,800 1,000,000 0 1,000,000
Zhaohong
Vice
President,
MLED CEO
Member of the
Executive
Committee,
Executive
Zhong Vice President
Former 1,310,000 0 0 1,310,000 1,000,000 0 1,000,000
Huifeng and Chief
Operating
Results
Management
Officer
Total -- -- 20,005,381 0 0 20,005,381 14,968,000 0 14,968,000
V Change of the Controlling Shareholder or the Actual Controller
Change of the controlling shareholder in the Reporting Period
□ Applicable Not applicable
No such cases in the Reporting Period.
Change of the actual controller in the Reporting Period
□ Applicable Not applicable
No such cases in the Reporting Period.
56
BOE Technology Group Co., Ltd. Interim Report 2022
Part VIII Preference Shares
□ Applicable Not applicable
No preference shares in the Reporting Period.
57
BOE Technology Group Co., Ltd. Interim Report 2022
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
Unit: RMB
Balance Coupon Trade
Bond name Abbr. Bond code Date of issue Value date Maturity Way of redemption
(RMB’0,000) rate place
If the issuer does not
execute its right in the
deferred interest
payment,
2019 Public Offering of
corresponding
Renewable Corporate
28 October 29 October 29 October interests shall be paid
Bonds of BOE (for 19BOEY1 112741 8,000,000,000.00 4.00% SZSE
2019 2019 2022 for this issue of bonds
qualified investors) (Phase
yearly, and the last
I)
installment of interest
shall be paid with the
redemption of
principal.
2020 Public Offering of 20BOEY1 149046 27 February 28 February 28 February 2,000,000,000.00 3.64% If the issuer does not SZSE
58
BOE Technology Group Co., Ltd. Interim Report 2022
Renewable Corporate 2020 2020 2023 execute its right in the
Bonds of BOE (for deferred interest
qualified investors) (Phase payment,
I) (epidemic prevention corresponding
and control bonds) interests shall be paid
for this issue of bonds
yearly, and the last
installment of interest
shall be paid with the
redemption of
principal.
If the issuer does not
execute its right in the
deferred interest
2020 Public Offering of payment,
Renewable Corporate corresponding
Bonds of BOE (for interests shall be paid
20BOEY2 149065 18 March 2020 19 March 2020 19 March 2023 2,000,000,000.00 3.54% SZSE
qualified investors) (Phase for this issue of bonds
II) (epidemic prevention yearly, and the last
and control bonds) installment of interest
shall be paid with the
redemption of
principal.
If the issuer does not
execute its right in the
deferred interest
2020 Public Offering of payment,
Renewable Corporate corresponding
Bonds of BOE (for interests shall be paid
20BOEY3 149108 24 April 2020 27 April 2020 27 April 2023 2,000,000,000.00 3.50% SZSE
qualified investors) (Phase for this issue of bonds
III) (epidemic prevention yearly, and the last
and control bonds) installment of interest
shall be paid with the
redemption of
principal.
2022 Public Offering of If the issuer does not
Renewable Corporate execute its right in the
22BOEY1 149861 24 March 2022 25 March 2022 25 March 2025 2,000,000,000.00 3.50% SZSE
Bonds of BOE (for deferred interest
professional investors) payment,
59
BOE Technology Group Co., Ltd. Interim Report 2022
(Digital Economy) (Phase corresponding
I) interests shall be paid
for this issue of bonds
yearly, and the last
installment of interest
shall be paid with the
redemption of
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
2. The Trigger and Execution of the Option Clause of the Issuers or Investors and the Investor Protection Clause
Applicable □ Not applicable
For the renewable corporate bonds “19BOEY1”, “20BOEY1”, “20BOEY2”, “20BOEY3” and “22BOEY1”, 3 interest-bearing years shall be regarded as a cycle. At the end of each cycle, the
issuer shall have the right to conditionally extend the issue of bonds for another cycle (3 years) or choose to fully redeem the due bonds at the end of the cycle. All bonds issued in the Reporting
Period entitle the issuer the right in the deferred interest payment. As of the approval date of this Report for issue, the issuer has not executed the aforesaid option on these bonds.
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
60
BOE Technology Group Co., Ltd. Interim Report 2022
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 2022 31 December 2021 Change
Current ratio 1.75 1.56 12.18%
Debt/asset ratio 51.81% 51.72% 0.09%
Quick ratio 1.40 1.29 8.53%
Item H1 2022 H1 2021 Change
Net profit before exceptional
423,946 1,181,675 -64.12%
gains and losses
EBITDA/debt ratio 15.30% 25.98% -10.68%
Interest cover (times) 3.93 8.21 -52.13%
Cash-to-interest cover (times) 12.20 12.04 1.33%
EBITDA-to-interest cover
14.19 14.46 -1.87%
(times)
Loan repayment ratio (%) 100.00% 100.00% 0.00%
Interest payment ratio (%) 100.00% 100.00% 0.00%
61
BOE Technology Group Co., Ltd. Interim Report 2022
Part X Financial Statements
I Independent Auditor’s Report
Are these interim financial statements audited by an independent auditor?
□ Yes No
These interim financial statements have not been audited by an independent auditor.
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.
30 June 2022
Unit: RMB
Item 30 June 2022 1 January 2022
Current assets:
Monetary assets 84,788,918,128.00 80,986,835,088.00
Settlement reserve 0.00 0.00
Interbank loans granted 0.00 0.00
Held-for-trading financial assets 16,710,312,524.00 10,028,172,853.00
Derivative financial assets 0.00 0.00
Notes receivable 273,938,741.00 217,734,298.00
Accounts receivable 25,711,089,557.00 35,503,414,820.00
Accounts receivable financing 0.00 0.00
Prepayments 873,612,718.00 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 1,261,520,393.00 1,922,828,378.00
Including: Interest receivable 172,230.00 0.00
Dividends receivable 9,826,050.00 2,414,503.00
Financial assets purchased under resale agreements 0.00 0.00
Inventories 33,018,794,213.00 27,805,161,436.00
Contract assets 88,068,862.00 75,698,324.00
Assets held for sale 0.00 0.00
Current portion of non-current assets 8,255,656.00 7,700,735.00
Other current assets 2,966,432,667.00 3,578,919,710.00
Total current assets 165,700,943,459.00 161,239,345,649.00
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 27,146,189.00 29,918,542.00
Long-term equity investments 6,646,019,274.00 6,040,948,317.00
Investments in other equity instruments 550,228,080.00 519,088,146.00
Other non-current financial assets 606,895,447.00 606,895,447.00
Investment property 1,137,543,991.00 1,158,365,401.00
Fixed assets 214,032,994,330.00 227,141,366,885.00
62
BOE Technology Group Co., Ltd. Interim Report 2022
Construction in progress 40,146,851,520.00 32,099,711,879.00
Productive living assets 0.00 0.00
Oil and gas assets 0.00 0.00
Right-of-use assets 879,444,501.00 753,164,237.00
Intangible assets 10,774,722,746.00 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 598,516,872.00 636,530,502.00
Deferred income tax assets 183,028,594.00 190,335,524.00
Other non-current assets 3,877,023,562.00 7,477,427,483.00
Total non-current assets 280,590,422,093.00 288,993,257,756.00
Total assets 446,291,365,552.00 450,232,603,405.00
Current liabilities:
Short-term borrowings 2,766,638,569.00 2,072,057,332.00
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 469,414,068.00 827,958,031.00
Accounts payable 31,449,642,913.00 32,455,830,694.00
Advances from customers 102,092,958.00 146,140,084.00
Contract liabilities 3,306,387,693.00 3,765,081,554.00
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 2,799,938,528.00 5,133,155,237.00
Taxes payable 1,677,090,939.00 2,200,249,305.00
Other payables 20,706,959,082.00 23,835,374,942.00
Including: Interest payable 138,850.00 126,701.00
Dividends payable 49,630,531.00 6,561,972.00
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 27,352,987,482.00 28,874,958,714.00
Other current liabilities 4,032,121,872.00 4,051,532,509.00
Total current liabilities 94,663,274,104.00 103,362,338,402.00
Non-current liabilities:
Insurance contract reserve 0.00 0.00
Long-term borrowings 123,858,634,582.00 116,078,666,587.00
Bonds payable 355,835,127.00 359,586,437.00
Including: Preferred shares 0.00 0.00
Perpetual bonds 0.00 0.00
Lease liabilities 747,894,221.00 669,130,264.00
Long-term payables 776,386,166.00 906,592,838.00
Long-term employee benefits payable 0.00 0.00
Provisions 0.00 0.00
Deferred income 6,214,183,533.00 6,416,089,611.00
Deferred income tax liabilities 1,548,427,381.00 1,525,622,873.00
Other non-current liabilities 3,049,516,117.00 3,535,809,876.00
Total non-current liabilities 136,550,877,127.00 129,491,498,486.00
Total liabilities 231,214,151,231.00 232,853,836,888.00
Owners’ equity:
Share capital 38,445,746,482.00 38,445,746,482.00
Other equity instruments 16,206,214,165.00 14,146,997,427.00
Including: Preferred shares 0.00 0.00
63
BOE Technology Group Co., Ltd. Interim Report 2022
Perpetual bonds 16,206,214,165.00 14,146,997,427.00
Capital reserves 54,311,238,485.00 53,804,309,393.00
Less: Treasury stock 3,630,090,776.00 3,415,768,207.00
Other comprehensive income -371,270,524.00 113,551,147.00
Specific reserve 0.00 0.00
Surplus reserves 2,890,218,539.00 2,889,590,205.00
General reserve 0.00 0.00
Retained earnings 35,464,890,279.00 37,101,790,111.00
Total equity attributable to owners of the Company as the parent 143,316,946,650.00 143,086,216,558.00
Non-controlling interests 71,760,267,671.00 74,292,549,959.00
Total owners’ equity 215,077,214,321.00 217,378,766,517.00
Total liabilities and owners’ equity 446,291,365,552.00 450,232,603,405.00
Legal representative: Chen Yanshun Chief Executive Officer: Gao Wenbao
Chief Financial Officer: Yang Xiaoping Head of the Company’s Financial Department: Teng Jiao
2. Balance Sheet of the Company as the Parent
Unit: RMB
Item 30 June 2022 1 January 2022
Current assets:
Monetary assets 10,352,078,642.00 5,609,364,822.00
Held-for-trading financial assets 0.00 0.00
Derivative financial assets 0.00 0.00
Notes receivable 0.00 0.00
Accounts receivable 4,771,307,244.00 4,828,855,275.00
Accounts receivable financing 0.00 0.00
Prepayments 16,890,151.00 12,669,107.00
Other receivables 21,844,099,566.00 15,449,830,610.00
Including: Interest receivable 0.00 0.00
Dividends receivable 919,429,466.00 219,715,564.00
Inventories 12,216,637.00 15,853,238.00
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 173,882,985.00 167,179,023.00
Total current assets 37,170,475,225.00 26,083,752,075.00
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 213,375,779,799.00 210,945,821,235.00
Investments in other equity instruments 80,307,389.00 63,458,868.00
Other non-current financial assets 0.00 0.00
Investment property 256,683,073.00 261,526,129.00
Fixed assets 923,766,028.00 961,944,766.00
Construction in progress 589,550,574.00 551,352,449.00
Productive living assets 0.00 0.00
Oil and gas assets 0.00 0.00
Right-of-use assets 148,273,718.00 170,173,793.00
Intangible assets 1,172,615,249.00 1,243,806,868.00
Development costs 0.00 0.00
Goodwill 0.00 0.00
Long-term prepaid expense 426,413,480.00 441,560,097.00
Deferred income tax assets 0.00 0.00
Other non-current assets 1,608,509,389.00 1,744,751,520.00
64
BOE Technology Group Co., Ltd. Interim Report 2022
Total non-current assets 218,581,898,699.00 216,384,395,725.00
Total assets 255,752,373,924.00 242,468,147,800.00
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 169,971,210.00 61,519,244.00
Advances from customers 14,986,275.00 20,038,334.00
Contract liabilities 0.00 0.00
Employee benefits payable 258,878,329.00 640,728,285.00
Taxes payable 150,831,212.00 244,586,957.00
Other payables 3,377,602,469.00 2,880,884,768.00
Including: Interest payable 0.00 0.00
Dividends payable 6,486,733.00 6,561,972.00
Liabilities directly associated with assets held for sale 0.00 0.00
Current portion of non-current liabilities 8,794,466,619.00 10,909,326,195.00
Other current liabilities 21,040,775.00 29,190,783.00
Total current liabilities 12,787,776,889.00 14,786,274,566.00
Non-current liabilities:
Long-term borrowings 38,828,500,000.00 32,208,500,000.00
Bonds payable 0.00 0.00
Including: Preferred shares 0.00 0.00
Perpetual bonds 0.00 0.00
Lease liabilities 108,711,513.00 129,343,868.00
Long-term payables 0.00 0.00
Long-term employee benefits payable 0.00 0.00
Provisions 0.00 0.00
Deferred income 2,437,974,777.00 2,906,951,707.00
Deferred income tax liabilities 225,898,702.00 225,816,218.00
Other non-current liabilities 87,216,661,806.00 74,506,661,805.00
Total non-current liabilities 128,817,746,798.00 109,977,273,598.00
Total liabilities 141,605,523,687.00 124,763,548,164.00
Owners’ equity:
Share capital 38,445,746,482.00 38,445,746,482.00
Other equity instruments 16,206,214,165.00 14,146,997,427.00
Including: Preferred shares 0.00 0.00
Perpetual bonds 16,206,214,165.00 14,146,997,427.00
Capital reserves 53,924,472,274.00 53,598,033,152.00
Less: Treasury stock 3,630,090,776.00 3,415,768,207.00
Other comprehensive income 72,995,021.00 89,024,650.00
Specific reserve 0.00 0.00
Surplus reserves 2,890,218,539.00 2,889,590,205.00
Retained earnings 6,237,294,532.00 11,950,975,927.00
Total owners’ equity 114,146,850,237.00 117,704,599,636.00
Total liabilities and owners’ equity 255,752,373,924.00 242,468,147,800.00
3. Consolidated Income Statement
Unit: RMB
Item H1 2022 H1 2021
1. Revenue 91,610,241,869.00 108,618,018,710.00
Including: Operating revenue 91,610,241,869.00 108,618,018,710.00
Interest income 0.00 0.00
Insurance premium income 0.00 0.00
Handling charge and commission income 0.00 0.00
65
BOE Technology Group Co., Ltd. Interim Report 2022
2. Costs and expenses 85,954,099,199.00 88,446,068,320.00
Including: Cost of sales 74,499,068,362.00 75,420,407,266.00
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 627,834,518.00 793,904,356.00
Selling expense 1,862,479,468.00 2,295,547,697.00
Administrative expense 2,948,599,229.00 3,245,612,412.00
R&D expense 5,362,004,818.00 4,932,300,358.00
Finance costs 654,112,804.00 1,758,296,231.00
Including: Interest expense 1,503,427,051.00 2,438,979,548.00
Interest income 651,030,668.00 443,748,698.00
Add: Other income 2,976,852,563.00 1,131,779,224.00
Return on investment (“-” for loss) 646,167,675.00 25,936,741.00
Including: Share of profit or loss of joint ventures and associates 586,980,332.00 620,013.00
Income from the derecognition of financial assets at amortized cost
0.00 0.00
(“-” 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) 77,771,038.00 37,887,125.00
Credit impairment loss (“-” for loss) -19,995,527.00 -33,868,609.00
Asset impairment loss (“-” for loss) -4,528,459,543.00 -2,307,446,795.00
Asset disposal income (“-” for loss) 3,601,605.00 152,606,846.00
3. Operating profit (“-” for loss) 4,812,080,481.00 19,178,844,922.00
Add: Non-operating income 99,586,182.00 48,115,802.00
Less: Non-operating expense 17,425,496.00 21,548,141.00
4. Profit before tax (“-” for loss) 4,894,241,167.00 19,205,412,583.00
Less: Income tax expense 1,681,324,244.00 2,260,425,038.00
5. Net profit (“-” for net loss) 3,212,916,923.00 16,944,987,545.00
5.1 By operating continuity
5.1.1 Net profit from continuing operations (“-” for net loss) 3,212,916,923.00 16,944,987,545.00
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 6,595,661,738.00 12,917,163,177.00
5.2.1 Net profit attributable to non-controlling interests -3,382,744,815.00 4,027,824,368.00
6. Other comprehensive income, net of tax -497,059,876.00 -46,126,447.00
Attributable to owners of the Company as the parent -478,538,335.00 -28,421,976.00
6.1 Items that will not be reclassified to profit or loss -20,609,687.00 -84,109,200.00
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
-10,265,385.00 -64,314,237.00
profit or loss under the equity method
6.1.3 Changes in the fair value of investments in other equity
-10,344,302.00 -19,794,963.00
instruments
6.1.4 Changes in the fair value arising from changes in own credit
0.00 0.00
risk
6.1.5 Other 0.00 0.00
6.2 Items that will be reclassified to profit or loss -457,928,648.00 55,687,224.00
6.2.1 Other comprehensive income that will be reclassified to profit
51,684.00 0.00
or loss under the equity method
6.2.2 Changes in the fair value of investments in other debt
0.00 0.00
obligations
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
66
BOE Technology Group Co., Ltd. Interim Report 2022
6.2.5 Reserve for cash flow hedges 0.00 0.00
6.2.6 Differences arising from the translation of foreign currency-
-457,980,332.00 55,687,224.00
denominated financial statements
6.2.7 Other 0.00 0.00
Attributable to non-controlling interests -18,521,541.00 -17,704,471.00
7. Total comprehensive income 2,715,857,047.00 16,898,861,098.00
Attributable to owners of the Company as the parent 6,117,123,403.00 12,888,741,201.00
Attributable to non-controlling interests -3,401,266,356.00 4,010,119,897.00
8. Earnings per share
8.1 Basic earnings per share 0.166 0.367
8.2 Diluted earnings per share 0.166 0.367
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: Gao Wenbao
Chief Financial Officer: Yang Xiaoping Head of the Company’s Financial Department: Teng Jiao
4. Income Statement of the Company as the Parent
Unit: RMB
Item H1 2022 H1 2021
1. Operating revenue 2,712,812,036.00 3,056,487,143.00
Less: Cost of sales 5,281,222.00 5,740,484.00
Taxes and surcharges 26,370,648.00 17,736,708.00
Selling expense 0.00 0.00
Administrative expense 625,941,940.00 337,658,825.00
R&D expense 1,019,595,582.00 977,552,146.00
Finance costs 293,782,658.00 408,339,302.00
Including: Interest expense 322,061,288.00 450,708,097.00
Interest income 53,616,149.00 21,893,482.00
Add: Other income 488,504,655.00 484,261,261.00
Return on investment (“-” for loss) 1,516,746,783.00 1,697,393,282.00
Including: Share of profit or loss of joint ventures and associates 416,617,496.00 13,838,703.00
Income from the derecognition of financial assets at amortized cost
0.00 0.00
(“-” for loss)
Net gain on exposure hedges (“-” for loss) 0.00 0.00
Gain on changes in fair value (“-” for loss) 0.00 0.00
Credit impairment loss (“-” for loss) -636,303.00 -1,746,785.00
Asset impairment loss (“-” for loss) 0.00 0.00
Asset disposal income (“-” for loss) 0.00 0.00
2. Operating profit (“-” for loss) 2,746,455,121.00 3,489,367,435.00
Add: Non-operating income 3,538,481.00 4,925,381.00
Less: Non-operating expense 882,153.00 1,187,679.00
3. Profit before tax (“-” for loss) 2,749,111,449.00 3,493,105,137.00
Less: Income tax expense 230,231,274.00 261,110,109.00
4. Net profit (“-” for net loss) 2,518,880,175.00 3,231,995,028.00
4.1 Net profit from continuing operations (“-” for net loss) 2,518,880,175.00 3,231,995,028.00
4.2 Net profit from discontinued operations (“-” for net loss) 0.00 0.00
5. Other comprehensive income, net of tax -9,746,293.00 -77,752,212.00
5.1 Items that will not be reclassified to profit or loss -9,797,977.00 -77,752,212.00
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
-10,265,385.00 -64,314,236.00
profit or loss under the equity method
5.1.3 Changes in the fair value of investments in other equity
467,408.00 -13,437,976.00
instruments
5.1.4 Changes in the fair value arising from changes in own credit
0.00 0.00
risk
67
BOE Technology Group Co., Ltd. Interim Report 2022
5.1.5 Other 0.00 0.00
5.2 Items that will be reclassified to profit or loss 51,684.00 0.00
5.2.1 Other comprehensive income that will be reclassified to profit
51,684.00 0.00
or loss under the equity method
5.2.2 Changes in the fair value of investments in other debt
0.00 0.00
obligations
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 currency-
0.00 0.00
denominated financial statements
5.2.7 Other 0.00 0.00
6. Total comprehensive income 2,509,133,882.00 3,154,242,816.00
7. Earnings per share
7.1 Basic earnings per share 0.058 0.085
7.2 Diluted earnings per share 0.058 0.085
5. Consolidated Cash Flow Statement
Unit: RMB
Item H1 2022 H1 2021
1. Cash flows from operating activities:
Proceeds from sale of commodities and rendering of services 105,748,212,621.00 102,983,059,761.00
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 11,422,361,466.00 6,890,984,602.00
Cash generated from other operating activities 5,584,434,829.00 3,658,020,137.00
Subtotal of cash generated from operating activities 122,755,008,916.00 113,532,064,500.00
Payments for commodities and services 76,855,395,277.00 65,678,777,231.00
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 11,234,924,468.00 9,006,613,635.00
Taxes paid 3,972,911,897.00 3,697,784,048.00
Cash used in other operating activities 2,579,776,609.00 2,361,246,719.00
Subtotal of cash used in operating activities 94,643,008,251.00 80,744,421,633.00
Net cash generated from/used in operating activities 28,112,000,665.00 32,787,642,867.00
2. Cash flows from investing activities:
Proceeds from disinvestment 35,710,798,594.00 14,595,162,184.00
Return on investment 178,876,792.00 63,705,219.00
Net proceeds from the disposal of fixed assets, intangible assets and
4,016,426.00 15,950,030.00
other long-lived assets
Net proceeds from the disposal of subsidiaries and other business
0.00 0.00
units
68
BOE Technology Group Co., Ltd. Interim Report 2022
Cash generated from other investing activities 627,086,392.00 580,693,730.00
Subtotal of cash generated from investing activities 36,520,778,204.00 15,255,511,163.00
Payments for the acquisition of fixed assets, intangible assets and
15,758,092,463.00 22,725,541,463.00
other long-lived assets
Payments for investments 42,524,036,688.00 13,559,315,026.00
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 1,080,339,563.00 327,642,163.00
Subtotal of cash used in investing activities 59,362,468,714.00 36,612,498,652.00
Net cash generated from/used in investing activities -22,841,690,510.00 -21,356,987,489.00
3. Cash flows from financing activities:
Capital contributions received 1,073,997,000.00 5,412,784,000.00
Including: Capital contributions by non-controlling interests to
1,073,997,000.00 5,412,784,000.00
subsidiaries
Borrowings raised 34,623,869,532.00 19,163,654,139.00
Cash generated from other financing activities 5,212,625.00 1,050,916,089.00
Subtotal of cash generated from financing activities 35,703,079,157.00 25,627,354,228.00
Repayment of borrowings 27,288,608,429.00 24,273,242,173.00
Interest and dividends paid 10,659,724,426.00 6,563,653,470.00
Including: Dividends paid by subsidiaries to non-controlling interests 0.00 0.00
Cash used in other financing activities 932,991,206.00 7,424,432,903.00
Subtotal of cash used in financing activities 38,881,324,061.00 38,261,328,546.00
Net cash generated from/used in financing activities -3,178,244,904.00 -12,633,974,318.00
4. Effect of foreign exchange rates changes on cash and cash
1,089,527,368.00 -519,790,328.00
equivalents
5. Net increase in cash and cash equivalents 3,181,592,619.00 -1,723,109,268.00
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 79,805,078,702.00 66,341,627,103.00
6. Cash Flow Statement of the Company as the Parent
Unit: RMB
Item H1 2022 H1 2021
1. Cash flows from operating activities:
Proceeds from sale of commodities and rendering of services 3,060,528,996.00 2,330,732,897.00
Tax rebates 0.00 36,064,521.00
Cash generated from other operating activities 1,115,844,542.00 328,682,480.00
Subtotal of cash generated from operating activities 4,176,373,538.00 2,695,479,898.00
Payments for commodities and services 610,354,078.00 2,416,514,190.00
Cash paid to and for employees 1,117,218,033.00 962,945,173.00
Taxes paid 585,318,767.00 404,011,370.00
Cash used in other operating activities 26,588,246.00 91,513,902.00
Subtotal of cash used in operating activities 2,339,479,124.00 3,874,984,635.00
Net cash generated from/used in operating activities 1,836,894,414.00 -1,179,504,737.00
2. Cash flows from investing activities:
Proceeds from disinvestment 169,798,594.00 461,214,968.00
Return on investment 468,135,647.00 2,085,472,096.00
Net proceeds from the disposal of fixed assets, intangible assets and
0.00 4,330.00
other long-lived assets
Net proceeds from the disposal of subsidiaries and other business
0.00 0.00
units
Cash generated from other investing activities 2,743,609,848.00 1,149,998,526.00
Subtotal of cash generated from investing activities 3,381,544,089.00 3,696,689,920.00
Payments for the acquisition of fixed assets, intangible assets and
425,914,421.00 593,285,345.00
other long-lived assets
Payments for investments 1,987,008,586.00 12,698,003,442.00
Net payments for the acquisition of subsidiaries and other business 0.00 0.00
69
BOE Technology Group Co., Ltd. Interim Report 2022
units
Cash used in other investing activities 8,169,528,356.00 25,316,404.00
Subtotal of cash used in investing activities 10,582,451,363.00 13,316,605,191.00
Net cash generated from/used in investing activities -7,200,907,274.00 -9,619,915,271.00
3. Cash flows from financing activities:
Capital contributions received 0.00 0.00
Borrowings raised 20,500,000,000.00 8,365,000,000.00
Cash generated from other financing activities 12,710,000,000.00 12,768,112,185.00
Subtotal of cash generated from financing activities 33,210,000,000.00 21,133,112,185.00
Repayment of borrowings 14,039,500,000.00 7,150,000,000.00
Interest and dividends paid 8,778,110,111.00 4,231,130,463.00
Cash used in other financing activities 282,280,201.00 104,779.00
Subtotal of cash used in financing activities 23,099,890,312.00 11,381,235,242.00
Net cash generated from/used in financing activities 10,110,109,688.00 9,751,876,943.00
4. Effect of foreign exchange rates changes on cash and cash
6,521,149.00 -77,249,702.00
equivalents
5. Net increase in cash and cash equivalents 4,752,617,977.00 -1,124,792,767.00
Add: Cash and cash equivalents, beginning of the period 5,591,885,722.00 4,360,065,216.00
6. Cash and cash equivalents, end of the period 10,344,503,699.00 3,235,272,449.00
70
BOE Technology Group Co., Ltd. Interim Report 2022
7. Consolidated Statements of Changes in Owners’ Equity
H1 2022
Unit: RMB
H1 2022
Equity attributable to owners of the Company as the parent
Other equity instruments Non- Total
Item Other Spec Gen
Prefe Less: controlling owners’
Share Capital compreh ific Surplus eral Retained Ot
rred Perpetual Ot Treasury Subtotal interests equity
capital reserves ensive reser reserves reser earnings her
share bonds her stock
income ve ve
s
1.
Balance
as at the
end of 38,445,746 14,146,997 0.0 53,804,309 3,415,768, 113,551, 2,889,590, 36,941,121 0.0 142,925,54 73,947,595 216,873,14
0.00 0.00 0.00
the ,482.00 ,427.00 0 ,393.00 207.00 147.00 205.00 ,452.00 0 7,899.00 ,568.00 3,467.00
period of
prior
year
Add:
Adjustm
ent for
change 0.0 160,668,65 0.0 160,668,65 344,954,39 505,623,05
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
in 0 9.00 0 9.00 1.00 0.00
accounti
ng
policy
Adjustm
ent for
0.0 0.0
correctio 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
n of 0 0
previous
error
Adjustm
ent for
0.0 0.0
business 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
combinat 0 0
ion
under
71
BOE Technology Group Co., Ltd. Interim Report 2022
common
control
Other
0.0 0.0
adjustme 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
nts 0 0
2.
Balance
as at the
38,445,746 14,146,997 0.0 53,804,309 3,415,768, 113,551, 2,889,590, 37,101,790 0.0 143,086,21 74,292,549 217,378,76
beginnin 0.00 0.00 0.00
g of the ,482.00 ,427.00 0 ,393.00 207.00 147.00 205.00 ,111.00 0 6,558.00 ,959.00 6,517.00
Reportin
g Period
3.
Increase/
decrease - - - -
in the 2,059,216, 0.0 506,929,09 214,322,5 628,334.0 0.0 230,730,09
0.00 0.00 484,821, 0.00 0.00 1,636,899, 2,532,282, 2,301,552,1
period 738.00 0 2.00 69.00 0 0 2.00
(“-” for 671.00 832.00 288.00 96.00
decrease
)
3.1
Total - -
0.0 6,595,661, 0.0 6,117,123,4 2,715,857,0
compreh 0.00 0.00 0.00 0.00 0.00 478,538, 0.00 0.00 0.00 3,401,266,
ensive 0 738.00 0 03.00 47.00
335.00 356.00
income
3.2
Capital
increase
1,989,415, 0.0 506,559,78 214,322,5 0.0 2,281,652,3 910,245,59 3,191,897,8
d and 0.00 0.00 0.00 0.00 0.00 0.00 0.00
reduced 094.00 0 4.00 69.00 0 09.00 0.00 99.00
by
owners
3.2.1
Ordinary
shares 0.0 0.0 1,073,997, 1,073,997,0
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
increase 0 0 000.00 00.00
d by
owners
3.2.2
Capital
increase
d by 1,989,415, 0.0 0.0 1,989,415,0 1,989,415,0
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
holders 094.00 0 0 94.00 94.00
of other
equity
instrume
72
BOE Technology Group Co., Ltd. Interim Report 2022
nts
3.2.3
Share-
based
payment -
0.0 305,704,62 0.0 366,122,26 20,365,186 386,487,44
s 0.00 0.00 0.00 60,417,63 0.00 0.00 0.00 0.00 0.00
included 0 8.00 0 0.00 .00 6.00
2.00
in
owners’
equity
- - -
3.2.4 0.0 200,855,15 274,740,2 0.0
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 73,885,045. 184,116,59 258,001,64
Other 0 6.00 01.00 0
00 6.00 1.00
3.3 - - - -
Profit 69,801,644 0.0 0.0
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 8,238,216, 8,168,414,9 41,261,522 8,209,676,4
distributi .00 0 0
on 572.00 28.00 .00 50.00
3.3.1
Appropri
0.0 0.0
ation 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
surplus 0 0
reserves
3.3.2
Appropri
0.0 0.0
ation 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
general 0 0
reserve
3.3.3
Appropri
ation to - - - -
0.0 0.0
owners 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 7,954,814, 7,954,814,9 41,261,522 7,996,076,4
(or 0 0
928.00 28.00 .00 50.00
sharehol
ders)
- - -
3.3.4 69,801,644 0.0 0.0
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 283,401,64 213,600,00 0.00 213,600,00
Other .00 0 0
4.00 0.00 0.00
3.4
Transfers -
0.0 628,334.0 5,655,002. 0.0
within 0.00 0.00 0.00 0.00 0.00 6,283,33 0.00 0.00 0.00 0.00 0.00
owners’ 0 0 00 0
6.00
equity
3.4.1 0.0 0.0
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
Increase 0 0
73
BOE Technology Group Co., Ltd. Interim Report 2022
in capital
(or share
capital)
from
capital
reserves
3.4.2
Increase
in capital
(or share 0.0 0.0
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
capital) 0 0
from
surplus
reserves
3.4.3
Loss
0.0 0.0
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
surplus 0 0
reserves
3.4.4
Changes
in
defined
benefit 0.0 0.0
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
schemes 0 0
transferr
ed to
retained
earnings
3.4.5
Other
compreh
ensive -
0.0 628,334.0 5,655,002. 0.0
income 0.00 0.00 0.00 0.00 0.00 6,283,33 0.00 0.00 0.00 0.00 0.00
transferr 0 0 00 0
6.00
ed to
retained
earnings
3.4.6 0.0 0.0
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
Other 0 0
3.5
0.0 0.0
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
reserve 0 0
3.5.1 0.0 0.0
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
Increase 0 0
74
BOE Technology Group Co., Ltd. Interim Report 2022
in the
period
3.5.2
Used in 0.0 0.0
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
the 0 0
period
3.6 0.0 0.0
0.00 0.00 0.00 369,308.00 0.00 0.00 0.00 0.00 0.00 0.00 369,308.00 0.00 369,308.00
Other 0 0
4.
Balance
as at the -
38,445,746 16,206,214 0.0 54,311,238 3,630,090, 2,890,218, 35,464,890 0.0 143,316,94 71,760,267 215,077,21
end of 0.00 371,270, 0.00 0.00
the ,482.00 ,165.00 0 ,485.00 776.00 539.00 ,279.00 0 6,650.00 ,671.00 4,321.00
524.00
Reportin
g Period
H1 2021
Unit: RMB
H1 2021
Equity attributable to owners of the Company as the parent
Other equity instruments Non- Total
Item Other Spec Gen
Prefe Less: controlling owners’
Share Capital compreh ific Surplus eral Retained Ot
rred Perpetual Ot Treasury Subtotal interests equity
capital reserves ensive reser reserves reser earnings her
share bonds her stock
income ve ve
s
1.
Balance
as at the -
end of 34,798,398 14,146,997 0.0 37,435,655 1,036,298, 2,444,416, 15,509,794 0.0 103,276,76 70,120,967 173,397,73
0.00 22,198,0 0.00 0.00
the ,763.00 ,427.00 0 ,934.00 508.00 669.00 ,622.00 0 6,835.00 ,879.00 4,714.00
period of 72.00
prior
year
Add:
Adjustm
ent for
change 0.0 30,852,512 0.0 30,852,512. 10,034,656 40,887,168.
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
in 0 .00 0 00 .00 00
accounti
ng
policy
75
BOE Technology Group Co., Ltd. Interim Report 2022
Adjustm
ent for
0.0 0.0
correctio 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
n of 0 0
previous
error
Adjustm
ent for
business
0.0 0.0
combinat 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
ion 0 0
under
common
control
Other
0.0 0.0
adjustme 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
nts 0 0
2.
Balance
as at the -
34,798,398 14,146,997 0.0 37,435,655 1,036,298, 2,444,416, 15,540,647 0.0 103,307,61 70,131,002 173,438,62
beginnin 0.00 22,198,0 0.00 0.00
g of the ,763.00 ,427.00 0 ,934.00 508.00 669.00 ,134.00 0 9,347.00 ,535.00 1,882.00
72.00
Reportin
g Period
3.
Increase/
decrease - -
in the 51,007,123 0.0 4,161,389. 9,212,987, 0.0 8,824,356,6 4,186,024, 13,010,381,
0.00 0.00 373,763,32 0.00 70,035,8 0.00 0.00
period .00 0 00 291.00 0 10.00 478.00 088.00
(“-” for 8.00 65.00
decrease
)
3.1
Total -
0.0 12,917,163 0.0 12,888,741, 4,010,119, 16,898,861,
compreh 0.00 0.00 0.00 0.00 0.00 28,421,9 0.00 0.00 0.00
ensive 0 ,177.00 0 201.00 897.00 098.00
76.00
income
3.2
Capital
increase - - -
0.0 0.0 190,282,11
d and 0.00 0.00 0.00 376,241,70 0.00 0.00 0.00 0.00 0.00 0.00 376,241,70 185,959,59
reduced 0 0 7.00
7.00 7.00 0.00
by
owners
76
BOE Technology Group Co., Ltd. Interim Report 2022
3.2.1
Ordinary - -
shares 0.0 0.0
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 926,301,32 926,301,32
increase 0 0
d by 2.00 2.00
owners
3.2.2
Capital
increase
d by
0.0 0.0
holders 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
of other 0 0
equity
instrume
nts
3.2.3
Share-
based
payment
0.0 288,269,88 0.0 288,269,88 20,510,201 308,780,08
s 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
included 0 5.00 0 5.00 .00 6.00
in
owners’
equity
- -
3.2.4 0.0 0.0 1,096,073, 431,561,64
0.00 0.00 0.00 664,511,59 0.00 0.00 0.00 0.00 0.00 0.00 664,511,59
Other 0 0 238.00 6.00
2.00 2.00
3.3 - - - -
Profit 51,007,123 0.0 0.0
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3,741,628, 3,690,621,2 14,377,536 3,704,998,7
distributi .00 0 0
on 386.00 63.00 .00 99.00
3.3.1
Appropri
0.0 0.0
ation 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
surplus 0 0
reserves
3.3.2
Appropri
0.0 0.0
ation 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
general 0 0
reserve
3.3.3 - - - -
Appropri 0.0 0.0
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3,477,021, 3,477,021,2 14,377,536 3,491,398,7
ation to 0 0
owners 263.00 63.00 .00 99.00
77
BOE Technology Group Co., Ltd. Interim Report 2022
(or
sharehol
ders)
- - -
3.3.4 51,007,123 0.0 0.0
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 264,607,12 213,600,00 0.00 213,600,00
Other .00 0 0
3.00 0.00 0.00
3.4
Transfers -
0.0 4,161,389. 37,452,500 0.0
within 0.00 0.00 0.00 0.00 0.00 41,613,8 0.00 0.00 0.00 0.00 0.00
owners’ 0 00 .00 0
89.00
equity
3.4.1
Increase
in capital
(or share 0.0 0.0
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
capital) 0 0
from
capital
reserves
3.4.2
Increase
in capital
(or share 0.0 0.0
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
capital) 0 0
from
surplus
reserves
3.4.3
Loss
0.0 0.0
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
surplus 0 0
reserves
3.4.4
Changes
in
defined
benefit 0.0 0.0
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
schemes 0 0
transferr
ed to
retained
earnings
3.4.5 -
0.0 4,161,389. 37,452,500 0.0
Other 0.00 0.00 0.00 0.00 0.00 41,613,8 0.00 0.00 0.00 0.00 0.00
compreh 0 00 .00 0
89.00
78
BOE Technology Group Co., Ltd. Interim Report 2022
ensive
income
transferr
ed to
retained
earnings
3.4.6 0.0 0.0
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
Other 0 0
3.5
0.0 0.0
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
reserve 0 0
3.5.1
Increase 0.0 0.0
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 the 0 0
period
3.5.2
Used in 0.0 0.0
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
the 0 0
period
3.6 0.0 2,478,379. 0.0 2,478,379.0 2,478,379.0
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other 0 00 0 0 0
4.
Balance
as at the -
34,798,398 14,198,004 0.0 37,061,892 1,036,298, 2,448,578, 24,753,634 0.0 112,131,97 74,317,027 186,449,00
end of 0.00 92,233,9 0.00 0.00
the ,763.00 ,550.00 0 ,606.00 508.00 058.00 ,425.00 0 5,957.00 ,013.00 2,970.00
37.00
Reportin
g Period
8. Statements of Changes in Owners’ Equity of the Company as the Parent
H1 2022
Unit: RMB
H1 2022
Other equity instruments Specif
Item Less: Other
Preferr Capital ic Surplus Retained Oth Total owners’
Share capital Perpetual Oth Treasury comprehens
ed reserves reserv reserves earnings er equity
bonds er stock ive income
shares e
1. Balance
as at the 38,445,746,48 14,146,997,42 53,598,033,15 3,415,768,20 89,024,650. 2,889,590,20 11,950,975,92 117,704,599,63
0.00 0.00 0.00 0.00
end of the 2.00 7.00 2.00 7.00 00 5.00 7.00 6.00
period of
79
BOE Technology Group Co., Ltd. Interim Report 2022
prior year
Add:
Adjustment
for change
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
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
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 38,445,746,48 14,146,997,42 53,598,033,15 3,415,768,20 89,024,650. 2,889,590,20 11,950,975,92 117,704,599,63
0.00 0.00 0.00 0.00
of the 2.00 7.00 2.00 7.00 00 5.00 7.00 6.00
Reporting
Period
3. Increase/
decrease in - - -
2,059,216,738. 326,439,122.0 214,322,569.
the period 0.00 0.00 0.00 16,029,629. 0.00 628,334.00 5,713,681,395. 0.00 3,557,749,399.0
(“-” for 00 0 00
00 00 0
decrease)
3.1 Total -
2,518,880,175. 2,509,133,882.0
comprehens 0.00 0.00 0.00 0.00 0.00 0.00 9,746,293.0 0.00 0.00 0.00
ive income 00 0
0
3.2 Capital
increased 1,989,415,094. 326,069,814.0 214,322,569. 2,101,162,339.0
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
and reduced 00 0 00 0
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
1,989,415,094. 1,989,415,094.0
by holders 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
of other 00 0
equity
instruments
80
BOE Technology Group Co., Ltd. Interim Report 2022
3.2.3 Share-
based -
payments 326,069,814.0
0.00 0.00 0.00 0.00 60,417,632.0 0.00 0.00 0.00 0.00 0.00 386,487,446.00
included in 0
owners’ 0
equity
274,740,201. -
3.2.4 Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
00 274,740,201.00
- -
3.3 Profit
0.00 0.00 69,801,644.00 0.00 0.00 0.00 0.00 0.00 0.00 8,238,216,572. 0.00 8,168,414,928.0
distribution
00 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
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 7,954,814,928. 0.00 7,954,814,928.0
owners (or
shareholder 00 0
s)
-
3.3.3 -
0.00 0.00 69,801,644.00 0.00 0.00 0.00 0.00 0.00 0.00 283,401,644.0 0.00
Other 213,600,000.00
0
3.4
Transfers -
within 0.00 0.00 0.00 0.00 0.00 0.00 6,283,336.0 0.00 628,334.00 5,655,002.00 0.00 0.00
owners’ 0
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
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
capital)
from
surplus
81
BOE Technology Group Co., Ltd. Interim Report 2022
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
by surplus
reserves
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
schemes
transferred
to retained
earnings
3.4.5
Other
comprehens -
ive income 0.00 0.00 0.00 0.00 0.00 0.00 6,283,336.0 0.00 628,334.00 5,655,002.00 0.00 0.00
transferred 0
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
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
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
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
period
3.6 Other 0.00 0.00 0.00 0.00 369,308.00 0.00 0.00 0.00 0.00 0.00 0.00 369,308.00
4. Balance
as at the
38,445,746,48 16,206,214,16 53,924,472,27 3,630,090,77 72,995,021. 2,890,218,53 6,237,294,532. 114,146,850,23
end of the 0.00 0.00 0.00 0.00
Reporting 2.00 5.00 4.00 6.00 00 9.00 00 7.00
Period
82
BOE Technology Group Co., Ltd. Interim Report 2022
H1 2021
Unit: RMB
H1 2021
Other equity instruments Specif
Item Less: Other
Preferr Capital ic Surplus Retained Oth Total owners’
Share capital Perpetual Oth Treasury comprehensi
ed reserves reserv reserves earnings er equity
bonds er stock ve income
shares e
1. Balance
as at the end
34,798,398,76 14,146,997,42 36,696,079,36 1,036,298,508 90,713,133. 2,444,416,669 11,954,088,03 99,094,394,88
of the 0.00 0.00 0.00 0.00
period of 3.00 7.00 6.00 .00 00 .00 1.00 1.00
prior year
Add:
Adjustment
for change
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
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
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 34,798,398,76 14,146,997,42 36,696,079,36 1,036,298,508 90,713,133. 2,444,416,669 11,954,088,03 99,094,394,88
0.00 0.00 0.00 0.00
of the 3.00 7.00 6.00 .00 00 .00 1.00 1.00
Reporting
Period
3. Increase/
decrease in - - -
313,557,266.0
the period 0.00 0.00 51,007,123.00 0.00 0.00 119,366,101 0.00 4,161,389.00 472,180,858.0 0.00 222,821,181.0
(“-” for 0
.00 0 0
decrease)
3.1 Total -
3,231,995,028. 3,154,242,816.
comprehens 0.00 0.00 0.00 0.00 0.00 0.00 77,752,212. 0.00 0.00 0.00
ive income 00 00
00
3.2 Capital 0.00 0.00 0.00 0.00 308,780,087.0 0.00 0.00 0.00 0.00 0.00 0.00 308,780,087.0
83
BOE Technology Group Co., Ltd. Interim Report 2022
increased 0 0
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 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
of other
equity
instruments
3.2.3 Share-
based
payments 308,780,087.0 308,780,087.0
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
included in 0 0
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
0.00 0.00 51,007,123.00 0.00 0.00 0.00 0.00 0.00 0.00 3,741,628,386. 0.00 3,690,621,263.
distribution
00 00
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
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 3,477,021,263. 0.00 3,477,021,263.
owners (or
shareholder 00 00
s)
- -
3.3.3
0.00 0.00 51,007,123.00 0.00 0.00 0.00 0.00 0.00 0.00 264,607,123.0 0.00 213,600,000.0
Other
0 0
3.4
Transfers -
within 0.00 0.00 0.00 0.00 0.00 0.00 41,613,889. 0.00 4,161,389.00 37,452,500.00 0.00 0.00
owners’ 00
equity
84
BOE Technology Group Co., Ltd. Interim Report 2022
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
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
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
by surplus
reserves
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
schemes
transferred
to retained
earnings
3.4.5
Other
comprehens -
ive income 0.00 0.00 0.00 0.00 0.00 0.00 41,613,889. 0.00 4,161,389.00 37,452,500.00 0.00 0.00
transferred 00
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
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
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
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
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
85
BOE Technology Group Co., Ltd. Interim Report 2022
4. Balance
as at the end -
34,798,398,76 14,198,004,55 37,009,636,63 1,036,298,508 2,448,578,058 11,481,907,17 98,871,573,70
of the 0.00 0.00 28,652,968. 0.00 0.00
Reporting 3.00 0.00 2.00 .00 .00 3.00 0.00
00
Period
86
BOE Technology Group Co., Ltd. Interim Report 2022
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, Internet of Things (IoT) innovation business, sensor and application solutions, MLED
and smart medicine & engineering. For information about the Company’s subsidiaries, see Note IX herein.
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 VIII.
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 2022, the consolidated results of operations and results of operations
and the consolidated cash flows and cash flows in the first half year of 2022 of the Company.
These financial statements also comply with the disclosure requirements of “Regulation on the Preparation of Information Disclosures
by Companies Issuing Securities, No. 15: General Requirements for Financial Reports” as revised by the China Securities Regulatory
Commission (“CSRC”) in 2014.
2. Accounting period
The accounting year of the Group is from January 1 st 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
87
BOE Technology Group Co., Ltd. Interim Report 2022
operating cycle. The operating cycle of the main business of the Company usually is less than 12 months.
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 in accordance with V Significant Accounting
Policies and Estimates-9. Foreign Currency Businesses and Translation of Foreign Currency Financial Statements.
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, 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. 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.
88
BOE Technology Group Co., Ltd. Interim Report 2022
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
89
BOE Technology Group Co., Ltd. Interim Report 2022
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.
90
BOE Technology Group Co., Ltd. Interim Report 2022
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.
Note: The determination methods for conversion exchange rates under foreign currency transactions, translation methods for foreign
currency monetary items at the balance sheet date, accounting treatments for foreign exchange gains and losses, and accounting
treatments for translation of foreign currency financial statements shall be explained.
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.
A debt investment is measured at FVOCI 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 achieved by both collecting contractual cash flows and selling financial assets;
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.
On initial recognition of an equity investment that is not held for trading, the Group may irrevocably elect to present subsequent changes
in the investment’s fair value in other comprehensive income. This election is made on an investment-by-investment basis. The
instrument meets the definition of equity from the perspective of the issuer.
All financial assets not classified as measured at amortised cost or FVOCI as described above are measured at FVTPL. On initial
recognition, the Group may irrevocably designate a financial asset that otherwise meets the requirements to be measured at amortised
91
BOE Technology Group Co., Ltd. Interim Report 2022
cost or at FVOCI as at FVTPL if doing so eliminates or significantly reduces an accounting mismatch that would otherwise arise.
The business model refers to how the Group manages its financial assets in order to generate cash flows. That is, the Group’s business
model determines whether cash flows will result from collecting contractual cash flows, selling financial assets or both. The Group
determines the business model for managing the financial assets according to the facts and based on the specific business objective for
managing the financial assets determined by the Group’s key management personnel.
In assessing whether the contractual cash flows are solely payments of principal and interest, the Group considers the contractual terms
of the instrument. For the purposes of this assessment, ‘principal’ is defined as the fair value of the financial asset on initial recognition.
‘Interest’ is defined as consideration for the time value of money and for the credit risk associated with the principal amount outstanding
during a particular period of time and for other basic lending risks and costs, as well as a profit margin. The Group also assesses whether
the financial asset contains a contractual term that could change the timing or amount of contractual cash flows such that it would not
meet this condition.
(b) Subsequent measurement of financial assets
- Financial assets at FVTPL
These financial assets are subsequently measured at fair value. Net gains and losses, including any interest or dividend income, are
recognised in profit or loss unless the financial assets are part of a hedging relationship.
- Financial assets at amortised cost
These assets are subsequently measured at amortised cost using the effective interest method. A gain or loss on a financial asset that is
measured at amortised cost and is not part of a hedging relationship shall be recognised in profit or loss when the financial asset is
derecognised, through the amortisation process or in order to recognise impairment gains or losses.
- Debt investments at FVOCI
These assets are subsequently measured at fair value. Interest income calculated using the effective interest method, impairment and
foreign exchange gains and losses are recognised in profit or loss. Other net gains and losses are recognised in other comprehensive
income. On derecognition, gains and losses accumulated in other comprehensive income are reclassified to profit or loss.
- Equity investments at FVOCI
These assets are subsequently measured at fair value. Dividends are recognised as income in profit or loss. Other net gains and losses
are recognised in other comprehensive income. On derecognition, gains and losses accumulated in other comprehensive income are
reclassified to retained earnings.
(3) Classification and subsequent measurement of financial liabilities
Financial liabilities are classified as measured at FVTPL or amortised cost.
- Financial liabilities at FVTPL
92
BOE Technology Group Co., Ltd. Interim Report 2022
A financial liability is classified as at FVTPL if it is classified as held-for-trading (including derivative financial liability) or it is
designated as such on initial recognition.
Financial liabilities at FVTPL are subsequently measured at fair value and net gains and losses, including any interest expense, are
recognised in profit or loss, unless the financial liabilities are part of a hedging relationship.
- Financial liabilities at amortised cost
These financial liabilities are subsequently measured at amortised cost using the effective interest method.
(4) Offsetting
Financial assets and financial liabilities are generally presented separately in the balance sheet, and are not offset. However, a financial
asset and a financial liability are offset and the net amount is presented in the balance sheet when both of the following conditions are
satisfied:
- The Group currently has a legally enforceable right to set off the recognised amounts；
- The Group intends either to settle on a net basis, or to realise the financial asset and settle the financial liability simultaneously.
(5) Derecognition of financial assets and financial liabilities
Financial asset is derecognised when one of the following conditions is met:
- the Group’s contractual rights to the cash flows from the financial asset expire;
- the financial asset has been transferred and the Group transfers substantially all of the risks and rewards of ownership of the
financial asset; or；
- the financial asset has been transferred, although the Group neither transfers nor retains substantially all of the risks and rewards
of ownership of the financial asset, it does not retain control over the transferred asset.
Where a transfer of a financial asset in its entirety meets the criteria for derecognition, the difference between the two amounts below
is recognised in profit or loss:
- the carrying amount of the financial asset transferred measured at the date of derecognition;
- the sum of the consideration received from the transfer and, when the transferred financial asset is a debt investment at FVOCI,
any cumulative gain or loss that has been recognised directly in other comprehensive income for the part derecognised.
The Group derecognises a financial liability (or part of it) only when its contractual obligation (or part of it) is extinguished.
(6) Impairment
The Group recognises loss allowances for expected credit loss (ECL) on:
- financial assets measured at amortised cost;
- contract assets;
93
BOE Technology Group Co., Ltd. Interim Report 2022
- debt investments at FVOCI; and
Financial assets measured at fair value, including debt investments or equity securities at FVTPL, equity securities designated at FVOCI
and derivative financial assets, are not subject to the ECL assessment.
Measurement of ECLs
ECLs are a probability-weighted estimate of credit losses. Credit losses are measured as the present value of all cash shortfalls (i.e. the
difference between the cash flows due to the entity in accordance with the contract and the cash flows that the Group expects to receive).
The maximum period considered when estimating ECLs is the maximum contractual period (including extension options) over which
the Group is exposed to credit risk.
Lifetime ECLs are the ECLs that result from all possible default events over the expected life of a financial instrument.
12-month ECLs are the portion of ECLs that result from default events that are possible within the 12 months after the balance sheet
date (or a shorter period if the expected life of the instrument is less than 12 months).
Loss allowances for trade receivables and contract assets are always measured at an amount equal to lifetime ECL. ECLs on these
financial assets are estimated using a provision matrix based on the Group’s historical credit loss experience, adjusted for factors that
are specific to the debtors and an assessment of both the current and forecast general economic conditions at the balance sheet date.
Except for trade receivables and contract assets, the Group measures loss allowance at an amount equal to 12-month ECL for the
following financial instruments, and at an amount equal to lifetime ECL for all other financial instruments.
- If the financial instrument is determined to have low credit risk at the balance sheet date;
- If the credit risk on a financial instrument has not increased significantly since initial recognition.
Financial instruments that have low credit risk
The credit risk on a financial instrument is considered low if the financial instrument has a low risk of default, the borrower has a strong
capacity to meet its contractual cash flow obligations in the near term and adverse changes in economic and business conditions in the
longer term may, but will not necessarily, reduce the ability of the borrower to fulfil its contractual cash flow obligations.
Significant increases in credit risk
In assessing whether the credit risk of a financial instrument has increased significantly since initial recognition, the Group compares
the risk of default occurring on the financial instrument assessed at the balance sheet date with that assessed at the date of initial
recognition.
When determining whether the credit risk of a financial asset has increased significantly since initial recognition and when estimating
ECL, the Group considers reasonable and supportable information that is relevant and available without undue cost or effort, including
forward-looking information. In particular, the following information is taken into account:
- failure to make payments of principal or interest on their contractually due dates;
- an actual or expected significant deterioration in a financial instrument’s external or internal credit rating (if available);
94
BOE Technology Group Co., Ltd. Interim Report 2022
- an actual or expected significant deterioration in the operating results of the debtor; and
- existing or forecast changes in the technological, market, economic or legal environment that have a significant adverse effect on
the debtor’s ability to meet its obligation to the Group.
Depending on the nature of the financial instruments, the assessment of a significant increase in credit risk is performed on either an
individual basis or a collective basis. When the assessment is performed on a collective basis, the financial instruments are grouped
based on shared credit risk characteristics, such as past due status and credit risk ratings.
The Group assumes that the credit risk on a financial asset has increased significantly if it is more than 30 days past due.
Credit-impaired financial assets
At each balance sheet date, the Group assesses whether financial assets carried at amortised cost and debt investments at FVOCI are
credit-impaired. A financial asset is ‘credit-impaired’ when one or more events that have a detrimental impact on the estimated future
cash flows of the financial asset have occurred. Evidence that a financial asset is credit-impaired includes the following observable
data:
- significant financial difficulty of the borrower or issuer;
- a breach of contract, such as a default or delinquency in interest or principal payments;
- for economic or contractual reasons relating to the borrower’s financial difficulty, the Group having granted to the borrower a
concession that would not otherwise consider;
- it is probable that the borrower will enter bankruptcy or other financial reorganisation; or
- the disappearance of an active market for that financial asset because of financial difficulties.
Presentation of allowance for ECL
ECLs are remeasured at each balance sheet date to reflect changes in the financial instrument’s credit risk since initial recognition. Any
change in the ECL amount is recognised as an impairment gain or loss in profit or loss. The Group recognises an impairment gain or
loss for all financial instruments with a corresponding adjustment to their carrying amount through a loss allowance account, except
for debt investments that are measured at FVOCI, for which the loss allowance is recognised in other comprehensive income.
Write-off
The gross carrying amount of a financial asset is written off (either partially or in full) to the extent that there is no realistic prospect of
recovery. A write-off constitutes a derecognition event. This is generally the case when the Group determines that the debtor does not
have assets or sources of income that could generate sufficient cash flows to repay the amounts subject to the write-off. However,
financial assets that are written off could still be subject to enforcement activities in order to comply with the Group’s procedures for
recovery of amounts due.
Subsequent recoveries of an asset that was previously written off are recognised as a reversal of impairment in profit or loss in the
period in which the recovery occurs.
(7) Equity instrument
The consideration received from the issuance of equity instruments net of transaction costs is recognised in shareholders’ equity.
Consideration and transaction costs paid by the Company for repurchasing self-issued equity instruments are deducted from
95
BOE Technology Group Co., Ltd. Interim Report 2022
shareholders’ equity.
When the Company repurchases its own shares, those shares are treated as treasury shares. All expenditure relating to the repurchase
is recorded in the cost of the treasury shares, with the transaction recording in the share register. Treasury shares are excluded from
profit distributions and are presented as a deduction under shareholders’ equity in the balance sheet.
When treasury shares are cancelled, the share capital should be reduced to the extent of the total par value of the treasury shares
cancelled. Where the cost of the treasury shares cancelled exceeds the total par value, the excess is deducted from capital reserve (share
premium), surplus reserve and retained earnings sequentially. If the cost of treasury shares cancelled is less than the total par value, the
difference is credited to the capital reserve (share premium).
When treasury shares are disposed of, any excess of proceeds above cost is recognised in capital reserve (share premium); otherwise,
the shortfall is deducted against capital reserve (share premium), surplus reserve and retained earnings sequentially.
(8) Perpetual bonds
At initial recognition, the Group classifies the perpetual bonds issued or their components as financial assets, financial liabilities or
equity instruments based on their contractual terms and their economic substance after considering the definition of financial assets,
financial liabilities and equity instruments.
Perpetual bonds issued that should be classified as equity instruments are recognised in equity based on the actual amount received.
Any distribution of dividends or interests during the instruments’ duration is treated as profit appropriation. When the perpetual bonds
are redeemed according to the contractual terms, the redemption price is charged to equity.
11. Notes Receivable
See V Significant Accounting Policies and Estimates-10. Financial Instruments for details
12. Accounts Receivable
See V Significant Accounting Policies and Estimates-10. Financial Instruments for details
13. Accounts Receivable Financing
Naught
14. Other Receivables
The recognition method and accounting treatment of expected credit losses of other receivables
See V Significant Accounting Policies and Estimates-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
96
BOE Technology Group Co., Ltd. Interim Report 2022
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 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 V Significant Accounting Policies and Estimates-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.
97
BOE Technology Group Co., Ltd. Interim Report 2022
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.
18. Assets Held for Sale
The Group classifies a non-current asset or disposal group as held for sale when the carrying amount of a non-current asset or disposal
group will be recovered through a sale transaction rather than through continuing use.
A disposal group refers to a group of assets to be disposed of, by sale or otherwise, together as a whole in a single transaction and
liabilities directly associated with those assets that will be transferred in the transaction.
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.
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.
19. Investments in Debt Obligations
See V Significant Accounting Policies and Estimates-10. Financial Instruments for details
20. Other Investments in Debt Obligations
See V Significant Accounting Policies and Estimates-10. Financial Instruments for details
21. Long-term Receivables
See V Significant Accounting Policies and Estimates-10. Financial Instruments for details
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
98
BOE Technology Group Co., Ltd. Interim Report 2022
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,
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
99
BOE Technology Group Co., Ltd. Interim Report 2022
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.
– 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. See See V Significant Accounting Policies and Estimates-31. Impairment of Long-term Assets
for details about methods for impairment testing and impairment provision.
The life time, residual rate and yearly depreciation of various investment properties are respectively as follows:
100
BOE Technology Group Co., Ltd. Interim Report 2022
Item Life time Residual rate Yearly depreciation
Land use right 32-50 years 0% 2%-3.1%
Houses and buildings 20-40 years 0%-10% 2.3%-5%
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. 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, unless that the fixed assets meet the conditions of held-for-sale.
(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%
Naught
(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-26. 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.
101
BOE Technology Group Co., Ltd. Interim Report 2022
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 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
The Group recognises a right-of-use asset and a lease liability at the lease commencement date. The right-of-use asset is initially
measured at cost, which comprises the initial amount of the lease liability, any lease payments made at or before the commencement
date (less any lease incentives received), any initial direct costs incurred and an estimate of costs to dismantle and remove the underlying
asset or to restore the site on which it is located or restore the underlying asset to the condition required by the terms and conditions of
102
BOE Technology Group Co., Ltd. Interim Report 2022
the lease.
(2) Subsequent measurement
The right-of-use asset is depreciated using the straight-line method. If the lessee is reasonably certain to exercise a purchase option by
the end of the lease term, the right-of-use asset is depreciated over the remaining useful lives of the underlying asset. Otherwise, the
right-of-use asset is depreciated from the commencement date to the earlier of the end of the useful life of the right-of-use asset or the
end of the lease term. Impairment losses of right-of-use assets are accounted for in accordance with the accounting policy described in
31. Long-term asset impairment under V. Significant Accounting Policies and Accounting Estimates.
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 amortisation (where the estimated useful life is finite) and
impairment losses (see 31. Long-term asset impairment under V. Significant Accounting Policies and Accounting Estimates).
(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 – 20 years
Computer software 3 – 10 years
Others 5 – 20 years
Useful lives and amortisation methods of intangible asset with finite useful life are reviewed at least at each year-end. 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.
(2) Accounting Policies of Internal R & D Expenses
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 (see 31. Long-term asset impairment under V. Significant Accounting Policies and Accounting Estimates).
Other development expenditures are recognized as expenses in the period in which they are incurred.
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
103
BOE Technology Group Co., Ltd. Interim Report 2022
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.
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 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
104
BOE Technology Group Co., Ltd. Interim Report 2022
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 lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted
using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Group’s incremental borrowing rate.
(2) Subsequent measurement
A constant periodic rate is used to calculate the interest on the lease liability in each period during the lease term with a corresponding
charge to profit or loss or included in the cost of assets where appropriate. Variable lease payments not included in the measurement
of the lease liability are charged to profit or loss or included in the cost of assets where appropriate as incurred.
(3) Remeasurement
Under the following circumstances after the commencement date, the Group remeasures lease liabilities based on the present value of
revised lease payments:
- there is a change in the amounts expected to be payable under a residual value guarantee;
- there is a change in future lease payments resulting from a change in an index or a rate used to determine those payments;
- there is a change in the assessment of whether the Group will exercise a purchase, extension or termination option, or there is a change
in the exercise of the extension or termination option.
When the lease liability is remeasured, a corresponding adjustment is made to the carrying amount of the right-of-use asset, or is
recorded in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero.
The Group has elected not to recognise right-of-use assets and lease liabilities for short-term leases that have a lease term of 12 months
or less and leases of low-value assets. The Group recognises the lease payments associated with these leases in profit or loss or as the
cost of the assets where appropriate using the straight-line method or other systematic basis over the lease term.
105
BOE Technology Group Co., Ltd. Interim Report 2022
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.
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
106
BOE Technology Group Co., Ltd. Interim Report 2022
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.
The share-based payment of the Company was paid with shares settled in equity.
38. Other Financial Instruments such as Preferred Shares and Perpetual Bonds
See V Significant Accounting Policies and Estimates-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
107
BOE Technology Group Co., Ltd. Interim Report 2022
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 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.
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.
108
BOE Technology Group Co., Ltd. Interim Report 2022
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.
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
109
BOE Technology Group Co., Ltd. Interim Report 2022
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 V Significant Accounting Policies and Estimates-10. Financial Instruments for details). 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.
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.
110
BOE Technology Group Co., Ltd. Interim Report 2022
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, 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
111
BOE Technology Group Co., Ltd. Interim Report 2022
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
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
New leases standard has revised CAS No.21 – Leases issued by the MOF in 2006 ("previous leases standard"). Under new leases
standard, the Group no longer distinguishes between operating leases and finance leases. The Group recognises right-of-use assets and
lease liabilities for all leases (except for short-term leases and leases of low-value assets which are accounted for using practical
expedient). The specific accounting treatments are as follows:
The Group recognises a right-of-use asset and a lease liability at the lease commencement date. The right-of-use asset is initially
measured at cost, which comprises the initial amount of the lease liability, any lease payments made at or before the commencement
date (less any lease incentives received), any initial direct costs incurred and an estimate of costs to dismantle and remove the underlying
asset or to restore the site on which it is located or restore the underlying asset to the condition required by the terms and conditions of
the lease.
The right-of-use asset is depreciated using the straight-line method. If the lessee is reasonably certain to exercise a purchase option by
the end of the lease term, the right-of-use asset is depreciated over the remaining useful lives of the underlying asset. Otherwise, the
right-of-use asset is depreciated from the commencement date to the earlier of the end of the useful life of the right-of-use asset or the
end of the lease term. Impairment losses of right-of-use assets are accounted for in accordance with the accounting policy described in
31. Long-term asset impairment under V. Significant Accounting Policies and Accounting Estimates.
The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted
using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Group’s incremental borrowing rate.
A constant periodic rate is used to calculate the interest on the lease liability in each period during the lease term with a corresponding
charge to profit or loss or included in the cost of assets where appropriate. Variable lease payments not included in the measurement
of the lease liability are charged to profit or loss or included in the cost of assets where appropriate as incurred.
Under the following circumstances after the commencement date, the Group remeasures lease liabilities based on the present value of
revised lease payments:
112
BOE Technology Group Co., Ltd. Interim Report 2022
- there is a change in the amounts expected to be payable under a residual value guarantee;
- there is a change in future lease payments resulting from a change in an index or a rate used to determine those payments;
- there is a change in the assessment of whether the Group will exercise a purchase, extension or termination option, or there is a change
in the exercise of the extension or termination option.
When the lease liability is remeasured, a corresponding adjustment is made to the carrying amount of the right-of-use asset, or is
recorded in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero.
The Group has elected not to recognise right-of-use assets and lease liabilities for short-term leases that have a lease term of 12 months
or less and leases of low-value assets. The Group recognises the lease payments associated with these leases in profit or loss or as the
cost of the assets where appropriate using the straight-line method or other systematic basis over the lease term.
2. Lessor
The Group determines at lease inception whether each lease is a finance lease or an operating lease. A lease is classified as a finance
lease if it transfers substantially all the risks and rewards incidental to ownership of an underlying asset irrespective of whether the
legal title to the asset is eventually transferred. An operating lease is a lease other than a finance lease.
When the Group is a sub-lessor, it assesses the lease classification of a sub-lease with reference to the right-of-use asset arising from
the head lease, not with reference to the underlying asset. If a head lease is a short-term lease to which the Group applies practical
expedient described above, then it classifies the sub-lease as an operating lease.
Lease receipts from operating leases are recognised as income using the straight-line method or other systematic basis over the lease
term. The initial direct costs incurred in respect of the operating lease are initially capitalised and subsequently amortised in profit or
loss over the lease term on the same basis as the lease income. Variable lease payments not included in lease receipts are recognised
as income as they are earned.
(2) Accounting Treatments of Financial Lease
1. Lessee
New leases standard has revised CAS No.21 – Leases issued by the MOF in 2006 ("previous leases standard"). Under new leases
standard, the Group no longer distinguishes between operating leases and finance leases. The Group recognises right-of-use assets and
lease liabilities for all leases (except for short-term leases and leases of low-value assets which are accounted for using practical
expedient). The specific accounting treatments are the same as those in 42. Lease (1) Accounting treatment of operating leases 1. Lessee
under V. Significant Accounting Policies and Accounting Estimates.
2. Lessor
The Group determines at lease inception whether each lease is a finance lease or an operating lease. A lease is classified as a finance
lease if it transfers substantially all the risks and rewards incidental to ownership of an underlying asset irrespective of whether the
legal title to the asset is eventually transferred. An operating lease is a lease other than a finance lease.
113
BOE Technology Group Co., Ltd. Interim Report 2022
Under a finance lease, at the commencement date, the Group recognises the finance lease receivable and derecognises the finance lease
asset. The finance lease receivable is initially measured at an amount equal to the net investment in the lease. The net investment in the
lease is measured at the aggregate of the unguaranteed residual value and the present value of the lease receivable that are not received
at the commencement date, discounted using the interest rate implicit in the lease.
The Group calculates and recognises interest income for each period of the lease term based on a fixed periodic interest rate. The
derecognition and impairment of the finance lease receivable are recognised in accordance with the accounting policy described in 10.
Financial instruments under V. Significant Accounting Policies and Accounting Estimates. Variable lease payments not included in
the measurement of net investment in the lease are recognised as income as they are earned
43. Other Significant Accounting Policies and Estimates
(1) Related parties
If a party has the power to control, jointly control or exercise significant influence over another party, or vice versa, or where two or
more parties are subject to common control or joint control from another party, they are considered to be related parties. Related parties
may be individuals or enterprises. Enterprises with which the Company is under common control only from the State and that have no
other related party relationships are not regarded as related parties.
In addition to the related parties stated above, the Company determines related parties based on the disclosure requirements of
Administrative Procedures on the Information Disclosures of Listed Companies issued by the CSRC.
(2) Segment reporting
Reportable segments are identified based on operating segments which are determined based on the structure of the Group’s internal
organisation, management requirements and internal reporting system after taking the materiality principle into account. Two or more
operating segments may be aggregated into a single operating segment if the segments have the similar economic characteristics and
are same or similar in respect of the nature of each segment’s products and services, the nature of production processes, the types or
classes of customers for the products and services, the methods used to distribute the products or provide the services, and the nature
of the regulatory environment.
Inter-segment revenues are measured on the basis of the actual transaction prices for such transactions for segment reporting. Segment
accounting policies are consistent with those for the consolidated financial statements.
(3) Profit distributions
Dividends or profit distributions proposed in the profit appropriation plan, which will be approved after the balance sheet date, are not
recognised as a liability at the balance sheet date, but are disclosed in the notes separately.
(4) Fair value measurement
Unless otherwise specified, the Group measures fair value as follows:
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market
participants at the measurement date.
When measuring fair value, the Group takes into account the characteristics of the particular asset or liability (including the condition
and location of the asset and restrictions, if any, on the sale or use of the asset) that market participants would consider when pricing
the asset or liability at the measurement date, and uses valuation techniques that are appropriate in the circumstances and for which
sufficient data and other information are available to measure fair value. Valuation techniques mainly include the market approach, the
income approach and the cost approach.
(5) Goodwill
The initial cost of goodwill represents the excess of cost of acquisition over the acquirer's interest in the fair value of the identifiable
net assets of the acquiree under a business combination not involving entities under common control.
114
BOE Technology Group Co., Ltd. Interim Report 2022
Goodwill is not amortised and is stated in the balance sheet at cost less accumulated impairment losses (see 31. Long-term asset
impairment under V. Significant Accounting Policies and Accounting Estimates). On disposal of an asset group or a set of asset groups,
any attributable goodwill is written off and included in the calculation of the profit or loss on disposal.
(6) Hedge accounting
Hedge accounting is a method which recognises in profit or loss (or other comprehensive income) the gain or loss on the hedging
instrument and the hedged item in the same accounting period(s) to represent the effect of risk management.
Hedged items are items that expose the Group to risks of changes in fair value or cash flows and that are designated as being hedged
and can be reliably measured. The Group's hedged items include a firm commitment that is settled with a fixed amount of foreign
currency and that exposes the Group to foreign currency risk.
A hedging instrument is a designated financial instrument whose changes in fair value or cash flows are expected to offset changes in
the fair value or cash flows of the hedged item. For a hedge of foreign currency risk, the foreign currency risk component of a non-
derivative financial asset or non-derivative financial liability may also be designated as a hedging instrument provided that it is not an
investment in an equity instrument for which an entity has elected to present changes in the fair value in other comprehensive income.
A hedging instrument is a designated financial instrument whose changes in fair value or cash flows are expected to offset changes in
the fair value or cash flows of the hedged item. For a hedge of foreign currency risk, the foreign currency risk component of a non-
derivative financial asset or non-derivative financial liability may also be designated as a hedging instrument provided that it is not an
investment in an equity instrument for which an entity has elected to present changes in the fair value in other comprehensive income.
The Group assesses at the inception of a hedging relationship, and on an ongoing basis, whether the hedging relationship meets the
hedge effectiveness requirements. A hedging relationship is regarded as having met the hedge effectiveness requirements if all of the
following conditions are satisfied:
- There is an economic relationship between the hedged item and the hedging instrument.
- The effect of credit risk does not dominate the value changes that result from the economic relationship.
- The hedge ratio of the hedging relationship is the same as that resulting from the quantity of the hedged item that the entity actually
hedges and the quantity of the hedging instrument that the entity actually uses to hedge that quantity of the hedged item.
The Group discontinues applying hedge accounting in any of the following circumstances:
- The hedging relationship no longer meets the risk management objective on the basis of which it qualified for hedge accounting.
- The hedging instrument expires or is sold, terminated or exercised.
- There is no longer an economic relationship between the hedged item and the hedging instrument or the effect of credit risk starts to
dominate the value changes that result from that economic relationship.
- The hedging relationship no longer meets other criteria for applying hedge accounting.
Cash flow hedges
A cash flow hedge is a hedge of the exposure to variability in cash flows. The portion of the gain or loss on a hedging instrument that
is determined to be an effective hedge is recognised in other comprehensive income as a cash flow hedge reserve. The amount of the
cash flow hedge reserve is adjusted to the lower of the following (in absolute amounts):
- the cumulative gain or loss on the hedging instrument from inception of the hedge;
- the cumulative change in present value of the expected future cash flows on the hedged item from inception of the hedge.
The change in the amount of the cash flow hedge reserve is recognised in other comprehensive income in each period.
The portion of the gain or loss on the hedging instrument that is determined to be ineffectiveness is recognised in profit or loss.
If a hedged forecast transaction subsequently results in the recognition of a non-financial asset or non-financial liability, or a hedged
forecast transaction for a non-financial asset or non-financial liability becomes a firm commitment for which fair value hedge
accounting is applied, the Group removes that amount from the cash flow hedge reserve and includes it in the initial cost or other
carrying amount of the asset or liability.
For cash flow hedges other than those covered above, that amount is reclassified from the cash flow hedge reserve to profit or loss as
a reclassification adjustment in the same period or periods during which the hedged expected future cash flows affect profit or loss.
115
BOE Technology Group Co., Ltd. Interim Report 2022
When the Group discontinues hedge accounting for a cash flow hedge, the amount of the accumulated cash flow hedge reserve
recognised in other comprehensive income is accounted for as follows:
- If the hedged future cash flows are still expected to occur, that amount will remain in the cash flow hedge reserve, and be accounted
for in accordance with the above policy.
- If the hedged future cash flows are no longer expected to occur, that amount is immediately reclassified from the cash flow hedge
reserve to profit or loss as a reclassification adjustment.
44. Changes in Significant Accounting Policies and Estimates
(1) Changes in Significant Accounting Policies
Applicable □ Not applicable
Contents of changes in accounting policies and
Approval procedures Note
reasons thereof
The Ministry of Finance issued the Accounting
Standards for Business Enterprises Interpretation No.
15 on 30 December 2021. The Company conducted
following accounting treatment as required by the
Standards: Reviewed and approved by the No significant influence on the
(1) Accounting treatment for sales of products or by- Board of Directors and the financial status and operating results
products by enterprises generated from fixed assets Executive Committee of the Company
before reaching the intended state of availability or
from the period of R&D;
(2) Presentation of centralized capital management;
(3) Judgment on onerous contracts.
Naught
(2) Changes in Accounting Estimates
□Applicable Not applicable
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
VAT services, based on tax laws. The remaining balance of output 6%, 9%, 13%
VAT, after subtracting the deductible input VAT of the period,
is VAT payable.
Consumption tax Naught Naught
Urban maintenance and construction tax Based on VAT paid, VAT exemption and offset for the period 7%, 5%
Enterprise income tax Based on taxable income 15%-30%
Education surcharge and local education
Based on VAT paid, VAT exemption and offset for the period 3%, 2%
surcharge
Notes of the disclosure situation of the taxpaying bodies with different enterprises income tax rate
116
BOE Technology Group Co., Ltd. Interim Report 2022
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%
Hefei BOE Display Light Source Co., Ltd. 15%
Chongqing BOE Display Lighting Co., Ltd. 15%
BOE (Hebei) Mobile 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%
Beijing Zhongxiangying Technology Co., Ltd. 15%
BOE Regenerative Medical Technologies Co. Ltd. 15%
Beijing BOE Health Technology Co., Ltd. 15%
Beijing BOE Energy Technology Co., Ltd. 15%
Yunnan Chuangshijie Optoelectronics 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
Company Policy basis
No. and Valid Period
In 2016, Ministry of Finance, General
Administration of Customs and SAT jointly
In June 2016, Ministry of Finance, General
issued CS [2016] No.30 Notice on various
Hefei BOE Display Technology Co., Ltd. Administration of Customs and SAT jointly
Policies related to VAT Payment by
Fuzhou BOE Optoelectronics Technology issued [2016] No.30 Document. According
Installments for the Imported Equipment
Co., Ltd. to the document, in terms of the new FPD
Involved in the New FPD Project. According
Chengdu BOE Optoelectronics Technology project and new key equipment imported
to the document, in terms of the new FPD
Co., Ltd. between 1 January 2015 and 31 December
project and new key equipment imported
Mianyang BOE Optoelectronics 2018. Import VAT could be paid by
between 1 January 2015 and 31 December
Technology Co., Ltd. installments within 6 years (72 consecutive
2018. Import VAT could be paid by
months) after the first device was imported.
installments within 6 years (72 consecutive
months) after the first device was imported.
Mianyang BOE Optoelectronics In December 2019, the Ministry of Finance, In 2019, the Ministry of Finance, the GACC
Technology Co., Ltd. General Administration of Customs and and the State Taxation Administration
Chongqing BOE Display Technology Co., SAT jointly issued Document [2019] No. 47, jointly issued the C.G.SH. [2019] No. 47
Ltd. which approved the import of key new Notice on the Phased VAT Payment Policy
equipment for the Active-matrix Organic for Imported Equipment of Active-matrix
Light Emitting Diode (AMOLED) display Organic Light Emitting Diode Display
device project between 1 January 2019 and Device Project, which approved the import
31 December 2020, with import value-added of key new device for Active-matrix Organic
tax allowed to be paid in phases over a Light Emitting Diode (AMOLED) display
period of six years (72 consecutive months) device project between 1 January 2019 and
117
BOE Technology Group Co., Ltd. Interim Report 2022
after the import of the first equipment. 31 December 2020, with import value-added
tax allowed to be paid in phases over a
period of six years (72 consecutive months)
after the import of the first device.
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 415,779.00 451,975.00
Bank deposits 79,996,367,571.00 76,760,433,855.00
Other monetary assets 4,792,134,778.00 4,225,949,258.00
Total 84,788,918,128.00 80,986,835,088.00
Of which: the total amount deposited overseas 6,597,965,680.00 7,197,634,319.00
Total amount of restriction in use by guaranteed,
4,740,547,715.00 4,152,705,165.00
pledged or frozen
Other notes:
As at 30 June 2022, other monetary funds were pledged by the Group amounting to RMB24,000,000 for short-term loans, and
USD1,493,532 and RMB38,760,000 were pledged for long-term loans. The rest of other restricted monetary funds, amounting to
RMB4,667,764,026, were the deposits in commercial banks as security.
2. Trading Financial Assets
Unit: RMB
Item Ending balance Beginning balance
Financial assets at fair value through profit or loss 16,710,312,524.00 10,028,172,853.00
Of which:
Wealth management products 16,710,312,524.00 10,028,172,853.00
Financial assets designated to be measured at fair value and
0.00 0.00
changes thereof recorded into the current profit or loss
Of which:
Total 16,710,312,524.00 10,028,172,853.00
Other notes:
N/A
3. Notes Receivable
(1) Notes Receivable Listed by Category
Unit: RMB
Item Ending balance Beginning balance
Bank acceptance bill 273,938,741.00 217,734,298.00
118
BOE Technology Group Co., Ltd. Interim Report 2022
Commercial acceptance bill 0.00 0.00
Total 273,938,741.00 217,734,298.00
Unit: RMB
Ending balance Beginning balance
Provision for Provision for
Book value Book value
impairment impairment
Category Withdra Carrying Withdra Carrying
Amou Percenta wal amounts Percenta wal amounts
Amount Amount Amount
nt ge proporti ge proporti
on on
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:
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
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
119
BOE Technology Group Co., Ltd. Interim Report 2022
Unit: RMB
Amount of recognition termination at the Amount of not terminated recognition at
Item
period-end the period-end
Bank acceptance bill 158,416,913.00 110,215,838.00
Commercial acceptance bill 0.00 0.00
Total 158,416,913.00 110,215,838.00
(5) Notes Transferred to Accounts Receivable Because Drawer of the Notes Failed to Execute the Contract or
Agreement
Unit: RMB
Amount of the notes transferred to accounts receivable at the
Item
period-end
Commercial acceptance bill 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
Reason for
Subsidiary Nature Amount verified procedures from connected
verification
performed transactions
N/A
Notes of the verification of notes receivable: N/A
120
BOE Technology Group Co., Ltd. Interim Report 2022
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 debt 1,688,810,640.00 6.54% 56,562,165.00 3.35% 1,632,248,475.00 1,275,228,505.00 3.58% 46,406,137.00 3.64% 1,228,822,368.00
provision
accrued
separately
Of which:
Accounts
receivable
for which
bad debt 24,117,373,340.00 93.46% 38,532,258.00 0.16% 24,078,841,082.00 34,309,953,455.00 96.42% 35,361,003.00 0.10% 34,274,592,452.00
provision
accrued
by group
Of which:
Total 25,806,183,980.00 100.00% 95,094,423.00 0.37% 25,711,089,557.00 35,585,181,960.00 100.00% 81,767,140.00 0.23% 35,503,414,820.00
Bad debt provision withdrawn separately:
Unit: RMB
Ending balance
Name
Book value Provision for impairment Withdrawal proportion Reason for withdrawal
Customers with high credit risks 57,099,934.00 56,562,165.00 99.06% N/A
Customers with low credit risks 1,631,710,706.00 0.00 0.00% N/A
Total 1,688,810,640.00 56,562,165.00
Bad debt provision accrued by group:
Unit: RMB
121
BOE Technology Group Co., Ltd. Interim Report 2022
Ending balance
Name
Book value Provision for impairment Withdrawal proportion
Customers with moderate credit risks 24,117,373,340.00 38,532,258.00 0.16%
Total 24,117,373,340.00 38,532,258.00
Notes of the basis of recognizing the group:
Customer group Basis
Customers with high credit risks With special matters, litigations or the deterioration of customers’ credit status
Customers with low credit risks Banks, insurance companies, large state-owned enterprises and public institutions
Customers with moderate credit risks Customers not included in Groups above
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
At all times the Group measures the impairment loss for accounts receivable at an amount equal to lifetime ECLs, and the ECLs are based on the number of overdue days and the expected loss
rate. According to the Group’s historical experience, different loss models are applicable to different customer groups.
Disclosed by aging
Unit: RMB
Ageing Ending balance
Within 1 year (including 1 year） 25,218,317,530.00
1 to 2 years 220,369,661.00
2 to 3 years 133,747,854.00
Over 3 years 233,748,935.00
3 to 4 years 147,532,211.00
4 to 5 years 70,897,365.00
Over 5 years 15,319,359.00
Total 25,806,183,980.00
122
BOE Technology Group Co., Ltd. Interim Report 2022
(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
Bad debt of
accounts 81,767,140.00 40,495,569.00 -20,528,284.00 -7,648,566.00 1,008,564.00 95,094,423.00
receivable
Total 81,767,140.00 40,495,569.00 -20,528,284.00 -7,648,566.00 1,008,564.00 95,094,423.00
Of which bad debt provision reversed or recovered with significant amount:
Unit: RMB
Subsidiary Amount reversed or recovered Way of recovery
N/A
(3) Accounts Receivable with Actual Verification during the Reporting Period
Unit: RMB
Item Amount verified
Accounts receivable with actual verification 7,648,566.00
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:
None
(4) Top 5 Accounts Receivable in Ending Balance Collected according to the Arrears Party
Unit: RMB
Proportion to the total ending
Ending balance of accounts Ending balance of bad debt
Subsidiary balance of accounts
receivable provisions
receivable
Sum of top 5 accounts
10,338,714,662.00 40.06% 0.00
receivable
Total 10,338,714,662.00 40.06%
(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
123
BOE Technology Group Co., Ltd. Interim Report 2022
Other notes: N/A
5. Prepayments
(1) List by Aging Analysis
Unit: RMB
Ending balance Beginning balance
Ageing
Amount Percentage Amount Percentage
Within 1 year 847,054,972.00 96.96% 1,088,149,020.00 97.78%
1 to 2 years 21,846,800.00 2.50% 9,828,654.00 0.88%
2 to 3 years 2,144,978.00 0.25% 2,531,759.00 0.23%
Over 3 years 2,565,968.00 0.29% 12,370,574.00 1.11%
Total 873,612,718.00 1,112,880,007.00
Notes of the reasons of the prepayment aging over 1 year with significant amount but failed settled in time:
N/A
(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 RMB539,042,675.00 that covered 61.70% of
the total amount of the ending balance of the prepayment at the period-end.
Other notes:
N/A
6. Other Accounts Receivable
Unit: RMB
Item Ending balance Beginning balance
Interest receivable 172,230.00 0.00
Dividends receivable 9,826,050.00 2,414,503.00
Other receivables 1,251,522,113.00 1,920,413,875.00
Total 1,261,520,393.00 1,922,828,378.00
(1) Interest Receivable
1) Category of Interest Receivable
Unit: RMB
Item Ending balance Beginning balance
Fixed time deposit 172,230.00 0.00
Entrusted loan 0.00 0.00
Bond investment 0.00 0.00
Total 172,230.00 0.00
2) Significant Overdue Interest
Unit: RMB
124
BOE Technology Group Co., Ltd. Interim Report 2022
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
(2) Dividend Receivable
1) Category of Dividend Receivable
Unit: RMB
Item(or investee) Ending balance Beginning balance
Bank of Chongqing 9,826,050.00 0.00
Illumina Fund I,L.P. 0.00 2,414,503.00
Total 9,826,050.00 2,414,503.00
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
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
VAT refunds and export tax rebate 14,088,288.00 253,311.00
Amount due from equity transfer 200,000,000.00 200,000,000.00
Security deposits 962,669,574.00 1,518,208,550.00
Others 83,836,117.00 210,995,830.00
Total 1,260,593,979.00 1,929,457,691.00
2) Withdrawal of Bad Debt Provision
Unit: RMB
Provision for Phase I Phase II Phase III Total
125
BOE Technology Group Co., Ltd. Interim Report 2022
impairment Expected credit losses Expected credit losses
Expected credit losses for the whole existence for the whole existence
in the next 12 months period (no credit period (with credit
impairment) impairment)
Balance of 1 January
0.00 0.00 9,043,816.00 9,043,816.00
2022
Balance of 1 January
2022 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
0.00 0.00 0.00 0.00
stage
-Reverse to First stage 0.00 0.00 0.00 0.00
Withdrawal of the
0.00 0.00 28,245.00 28,245.00
current period
Reversal of the current
0.00 0.00 0.00 0.00
period
Write-offs of the current
0.00 0.00 0.00 0.00
period
Verification of the
0.00 0.00 -195.00 -195.00
current period
Other changes 0.00 0.00 0.00 0.00
Balance of 30 June 2022 0.00 0.00 9,071,866.00 9,071,866.00
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） 952,348,121.00
1 to 2 years 43,427,881.00
2 to 3 years 21,641,752.00
Over 3 years 243,176,225.00
3 to 4 years 8,828,783.00
4 to 5 years 9,206,870.00
Over 5 years 225,140,572.00
Total 1,260,593,979.00
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
Beginning
Category Reversal or Ending balance
balance Withdrawal Write-off Others
recovery
Bad debt
provisions for
9,043,816.00 28,245.00 0.00 -195.00 0.00 9,071,866.00
other
receivables
Total 9,043,816.00 28,245.00 0.00 -195.00 0.00 9,071,866.00
N/A
Of which bad debt provision reversed or recovered with significant amount:
126
BOE Technology Group Co., Ltd. Interim Report 2022
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
Customer 1 195.00
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:
None
5) Top 5 Other Accounts Receivable in Ending Balance Collected according to the Arrears Party
Unit: RMB
Ending
Proportion to the balance of
Subsidiary Nature Ending balance Ageing total ending balance bad debt
of other receivables provision
s
Within 1 year (including 1
Customer A Security deposits 469,772,832.00 37.27% 0.00
year)
Equity transfer
Customer B accounts 200,000,000.00 Over 5 year 15.87% 0.00
receivable
Within 1 year (including 1
Customer C Security deposits 151,006,500.00 11.98% 0.00
year)
Within 1 year (including 1
Customer D Security deposits 100,671,000.00 7.99% 0.00
year)
Within 1 year (including 1
Customer E Security deposits 20,649,975.00 1.64% 0.00
year)
Total 942,100,307.00 74.73% 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
N/A
127
BOE Technology Group Co., Ltd. Interim Report 2022
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
7. 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
13,735,182,853.00 2,696,180,447.00 11,039,002,406.00 12,029,879,462.00 2,083,190,076.00 9,946,689,386.00
materials
Work in
6,551,623,291.00 1,610,041,622.00 4,941,581,669.00 4,080,209,516.00 732,973,017.00 3,347,236,499.00
progress
Finished
21,494,894,316.00 4,732,898,325.00 16,761,995,991.00 17,108,598,457.00 2,795,564,803.00 14,313,033,654.00
goods
Consumable
153,048,398.00 0.00 153,048,398.00 130,472,966.00 0.00 130,472,966.00
s
Consumptiv
e living 0.00 0.00 0.00 0.00 0.00 0.00
assets
Costs to
fulfil a
contract 123,165,749.00 0.00 123,165,749.00 67,728,931.00 0.00 67,728,931.00
with a
customer
Goods in
0.00 0.00 0.00 0.00 0.00 0.00
transit
Total 42,057,914,607.00 9,039,120,394.00 33,018,794,213.00 33,416,889,332.00 5,611,727,896.00 27,805,161,436.00
(2) Falling Price Reserves of Inventories and Impairment Provision for Contract Performance Costs
Unit: RMB
Increased amount Decrease
Beginning
Item Reverse or write- Ending balance
balance Withdrawal Others Others
off
Raw materials 2,083,190,076.00 805,565,400.00 3,994,636.00 196,569,665.00 0.00 2,696,180,447.00
Work in 732,973,017.00 970,008,571.00 891,562.00 93,831,528.00 0.00 1,610,041,622.00
128
BOE Technology Group Co., Ltd. Interim Report 2022
progress
Finished goods 2,795,564,803.00 3,824,559,337.00 883,763.00 1,888,109,578.00 0.00 4,732,898,325.00
Consumables 0.00 0.00 0.00 0.00 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 5,611,727,896.00 5,600,133,308.00 5,769,961.00 2,178,510,771.00 0.00 9,039,120,394.00
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
8. 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 88,068,862.00 0.00 88,068,862.00 75,698,324.00 0.00 75,698,324.00
Total 88,068,862.00 0.00 88,068,862.00 75,698,324.00 0.00 75,698,324.00
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
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
Write-
Withdrawal of the Reversal of the
Item offs/Verification of Reason for change
current period current period
the current period
N/A
Other notes:
N/A
9. Current Portion of Non-current Assets
Unit: RMB
Item Ending balance Beginning balance
Current portion of investments in debt 0.00 0.00
129
BOE Technology Group Co., Ltd. Interim Report 2022
obligations
Current portion of other investments in
0.00 0.00
debt obligations
Current portion of long-term receivabels 8,255,656.00 7,700,735.00
Total 8,255,656.00 7,700,735.00
Significant investments in debt obligations /other investments in debt obligations
Unit: RMB
Ending balance Beginning balance
Item Coupon Actual Maturity Coupon Actual Maturity
Par value Par value
rate interest rate date rate interest rate date
N/A
Other notes:
N/A
10. Other Current Assets
Unit: RMB
Item Ending balance Beginning balance
Contract acquisition cost 0.00 0.00
Costs receivables for recovering products
124,579,715.00 126,447,496.00
from a customer
VAT on tax credits 2,075,288,104.00 2,643,490,711.00
Input tax to be verified or deducted 479,859,579.00 575,209,816.00
Prepaid income taxes 38,404,635.00 20,739,659.00
Others 248,300,634.00 213,032,028.00
Total 2,966,432,667.00 3,578,919,710.00
Other notes:
N/A
11. Long-term Receivables
(1) List of Long-term Receivables
Unit: RMB
Ending balance Beginning balance Interval
of
Item Carrying Bad debt Carrying Bad debt
Carrying value Carrying value discount
amount provision amount provision rate
Finance lease 4.65%-
27,146,189.00 0.00 27,146,189.00 29,918,542.00 0.00 29,918,542.00
payment 39.22%
Of which:
unrealized - 4.65%-
0.00 -28,434,742.00 -31,683,072.00 0.00 -31,683,072.00
financing 28,434,742.00 39.22%
income
Sales of goods
0.00 0.00 0.00 0.00 0.00 0.00
by installments
Rendering of
services by 0.00 0.00 0.00 0.00 0.00 0.00
installments
Total 27,146,189.00 0.00 27,146,189.00 29,918,542.00 0.00 29,918,542.00
130
BOE Technology Group Co., Ltd. Interim Report 2022
Impairment of bad debt provision
Unit: RMB
First stage Second stage Third stage
Expected loss in the
Bad debt provision Expected loss in the Total
Expected credit loss of duration (credit
duration (credit
the next 12 months impairment not
impairment occurred)
occurred)
Balance of 1 January
0.00 0.00 0.00 0.00
2022
Balance of 1 January
2022 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
0.00 0.00 0.00 0.00
stage
-Reverse to First stage 0.00 0.00 0.00 0.00
Withdrawal of the
0.00 0.00 0.00 0.00
current period
Reversal of the current
0.00 0.00 0.00 0.00
period
Write-offs of the
0.00 0.00 0.00 0.00
current period
Verification of the
0.00 0.00 0.00 0.00
current period
Other changes 0.00 0.00 0.00 0.00
Balance of 30 June
0.00 0.00 0.00 0.00
2022
Changes of carrying amount with significant amount changed of loss provision in the reporting period
□Applicable Not applicable
N/A
(2) Derecognition of Long-term Receivables due to the Transfer of Financial Assets
N/A
(3) The Amount of the Assets and Liabilities Formed due to the Transfer and the Continued Involvement of
Long-term Receivables
N/A
Other notes:
N/A
131
BOE Technology Group Co., Ltd. Interim Report 2022
12. Long-term Equity Investment
Unit: RMB
Increase/decrease
Profit and
Beginning Declared Ending balance
loss on Adjustment Other Ending balance
Investee balance (carrying distribution for impairment
Additional Reduced investments of other equity Impairment (carrying value)
value) of cash Others provisions
investments investments confirmed comprehensi movemen provisions
dividends
according to ve income ts
or profits
equity law
I. Joint ventures
N/A
II. Associated enterprises
Beijing Nissin
Electronics
Precision 2,013,138.00 0.00 0.00 858,488.00 0.00 0.00 0.00 0.00 0.00 2,871,626.00 0.00
Component Co.,
Ltd.
Beijing Nittan
Electronic Co., 77,596,241.00 0.00 0.00 475,086.00 0.00 0.00 0.00 0.00 0.00 78,071,327.00 0.00
Ltd.
Beijing Infi-
Hailin Venture
0.00 0.00 0.00 1,596,566.00 0.00 0.00 0.00 0.00 0.00 1,596,566.00 0.00
Investment Co.,
Ltd.
Beijing Infi-
Hailin Venture
Investment 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
(Limited
Partnership)
Erdos BOE
Energy
631,808,521.00 0.00 0.00 -612,344.00 0.00 0.00 0.00 0.00 0.00 631,196,177.00 777,858,312.00
Investment Co.,
Ltd.
TPV Display
Technology 28,459,837.00 0.00 0.00 479,181.00 0.00 0.00 0.00 0.00 0.00 28,939,018.00 0.00
(China) Co., Ltd.
Beijing
Xindongneng -
396,305,719. -
Investment Fund 2,088,917,867.00 0.00 129,798,594.00 15,049,881.0 0.00 0.00 0.00 2,277,316,974.00 0.00
(Limited 00 63,058,137.00
0
Partnership)
132
BOE Technology Group Co., Ltd. Interim Report 2022
Beijing
Xindongneng -
Investment 8,640,494.00 0.00 0.00 1,630,439.00 0.00 0.00 2,000,000. 0.00 0.00 8,270,933.00 0.00
Management Co., 00
Ltd.
Shenzhen
Yunyinggu 369,308.0
41,093,186.00 0.00 0.00 1,974,946.00 93,053.00 0.00 0.00 0.00 43,530,493.00 0.00
Technology Co., 0
Ltd.
Beijing Xloong
Technologies Co., 21,091,552.00 0.00 0.00 -274,258.00 0.00 0.00 0.00 0.00 0.00 20,817,294.00 0.00
Ltd.
New On
Technology Co., 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2,070,042.00
Ltd.
Cnoga
8,058,251.00 0.00 0.00 0.00 0.00 0.00 0.00 8,199,181.00 140,930.00 0.00 266,848,672.00
Medical Ltd.
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 Collaborative 2,367,172.00 0.00 0.00 77,368.00 0.00 0.00 0.00 0.00 0.00 2,444,540.00 0.00
Technology
Centre Co., Ltd.
Tianjin
Xianzhilian -
Investment
4,648,632.00 0.00 0.00 4,117,196.00 0.00 0.00 3,150,000. 0.00 0.00 5,615,828.00 0.00
Management
Centre (Limited 00
Partnership)
Tianjin
Xianzhilian
137,302,513.
Investment Centre 968,341,880.00 234,000,000.00 0.00 0.00 0.00 0.00 0.00 0.00 1,339,644,393.00 0.00
(Limited 00
Partnership)
Beijing
Innovation
11,035,537.0
Industry 207,564,573.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 218,600,110.00 0.00
Investment Co., 0
Ltd.
BEHC Industrial
Investment Co., 231,777,557.00 0.00 0.00 1,835,865.00 4,743,127.00 0.00 0.00 0.00 0.00 238,356,549.00 0.00
Ltd.
133
BOE Technology Group Co., Ltd. Interim Report 2022
BOE Houji
Technology 927,761.00 0.00 0.00 -217,274.00 0.00 0.00 0.00 0.00 0.00 710,487.00 0.00
(Beijing) Co., Ltd.
Biochain
-
(Beijing) Science- 339,845,254.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 336,761,676.00 0.00
Technology.Inc 3,083,578.00
Beijing BOE
Microbial -
20,042,936.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 13,123,953.00 0.00
Technology Co., 6,918,983.00
Ltd.
BOE Art Cloud
Technology Co., 286,976,389.00 0.00 0.00 1,648,526.00 0.00 0.00 0.00 0.00 0.00 288,624,915.00 0.00
Ltd.
Guoke BOE
(Shanghai) Equity
Investment 1,183,512.00 0.00 0.00 -856,752.00 0.00 0.00 0.00 0.00 0.00 326,760.00 0.00
Management Co.,
Ltd.
Beijing YanDong
39,852,089.0
MicroElectronic 1,009,985,276.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,049,837,365.00 0.00
Co., Ltd. 0
Chongqing BOE
Smart Private
Equity Investment
59,608,288.00 0.00 0.00 -245,998.00 0.00 0.00 0.00 0.00 0.00 59,362,290.00 0.00
Fund Partnership
(Limited
Partnership)
- -
586,980,332. 369,308.0 -
Sub-total 6,040,948,317.00 234,000,000.00 129,798,594.00 10,213,701.0 5,150,000. 8,199,181.00 6,646,019,274.00 1,046,777,026.00
00 0 62,917,207.00
0 00
- -
586,980,332. 369,308.0 -
Total 6,040,948,317.00 234,000,000.00 129,798,594.00 10,213,701.0 5,150,000. 8,199,181.00 6,646,019,274.00 1,046,777,026.00
00 0 62,917,207.00
0 00
Other notes:
N/A
134
BOE Technology Group Co., Ltd. Interim Report 2022
13. Other Equity Instrument Investment
Unit: RMB
Item Ending balance Beginning balance
Beijing Electronics Zone High-Tech
57,188,727.00 56,638,836.00
Group Co., Ltd.
Zhejiang BOE Display Technology Co.,
321,256.00 321,256.00
Ltd.
Zhejiang Qiusheng Optoelectronics
248,776.00 248,776.00
Technology Co., Ltd.
Beijing Digital TV National Engineering
6,250,000.00 6,250,000.00
Laboratory Co., Ltd.
Qingdao Ultra HD Video Innovation
500,000.00 500,000.00
Technology Co., Ltd.
Bank of Chongqing 90,061,955.00 91,875,688.00
New Century Medical Treatment 16,319,469.00 19,810,485.00
Beijing Horizon Robotics Technology
33,181,760.00 31,722,880.00
Research and Development Co., Ltd.
Nanjing Xinjiayuan Technology Co.,
1,487,050.00 1,482,425.00
Ltd.
Danhua Capital, L.P. 33,557,000.00 31,878,500.00
Danhua Capital II, L.P. 67,114,000.00 63,757,002.00
Kateeva Inc. 80,167,673.00 76,157,736.00
ZGLUE INC. 0.00 0.00
Nanosys INC 50,335,500.00 47,817,750.00
Ceribell INC 8,724,812.00 8,288,403.00
Baebies INC 29,487,791.00 28,012,830.00
KA IMAGING INC. 1,931,320.00 1,834,716.00
MOOV INC. 26,956,672.00 25,608,316.00
Illumina Fund I,L.P. 28,753,409.00 25,607,407.00
ACQIS Technology, Inc. 1,342,280.00 1,275,140.00
Beijing Dongfang Electronic Industry
0.00 0.00
Co. Ltd.
Beijing Jingguoguan Equity Investment
16,298,630.00 0.00
Fund (Limited Partnership)
Total 550,228,080.00 519,088,146.00
Disclosure of Non-trading Equity Instrument Investment
Unit: RMB
Amoun
t Reason
transfe for
rred transfer
from ring
other from
Reason for being
Dividend compre other
Accumulative Accumulative designated at fair value
Item income hensiv compre
gains losses through other
recognized e hensive
comprehensive income
income income
to to
retaine retained
d earning
earning s
s
Beijing Electronics Zone With intention of long-
High-Tech Group Co., 206,209.00 0.00 8,447,433.00 0.00 term holding for N/A
Ltd. strategic reasons
Zhejiang BOE Display With intention of long-
0.00 0.00 0.00 0.00 N/A
Technology Co., Ltd. term holding for
135
BOE Technology Group Co., Ltd. Interim Report 2022
strategic reasons
Zhejiang Qiusheng With intention of long-
Optoelectronics 0.00 3,040,266.00 0.00 0.00 term holding for N/A
Technology Co., Ltd. strategic reasons
Beijing Digital TV With intention of long-
National Engineering 0.00 0.00 0.00 0.00 term holding for N/A
Laboratory Co., Ltd. strategic reasons
Qingdao Ultra HD With intention of long-
Video Innovation 0.00 0.00 0.00 0.00 term holding for N/A
Technology Co., Ltd. strategic reasons
With intention of long-
Bank of Chongqing 9,563,780.00 29,273,560.00 0.00 0.00 term holding for N/A
strategic reasons
With intention of long-
New Century Medical
0.00 0.00 123,619,079.00 0.00 term holding for N/A
Treatment
strategic reasons
Beijing Horizon With intention of long-
Robotics Technology
0.00 1,227,260.00 0.00 0.00 term holding for N/A
Research and
Development Co., Ltd. strategic reasons
With intention of long-
Nanjing Xinjiayuan
0.00 0.00 512,950.00 0.00 term holding for N/A
Technology Co., Ltd.
strategic reasons
With intention of long-
Danhua Capital, L.P. 4,865,400.00 8,667,504.00 0.00 0.00 term holding for N/A
strategic reasons
With intention of long-
Danhua Capital II, L.P. 0.00 13,267,050.00 0.00 0.00 term holding for N/A
strategic reasons
With intention of long-
Kateeva Inc. 0.00 0.00 2,694,793.00 0.00 term holding for N/A
strategic reasons
With intention of long-
ZGLUE INC. 0.00 0.00 10,405,488.00 0.00 term holding for N/A
strategic reasons
With intention of long-
Nanosys INC 0.00 0.00 13,500.00 0.00 term holding for N/A
strategic reasons
With intention of long-
Ceribell INC 0.00 62,529.00 0.00 0.00 term holding for N/A
strategic reasons
With intention of long-
Baebies INC 0.00 364,237.00 0.00 0.00 term holding for N/A
strategic reasons
With intention of long-
KA IMAGING INC. 0.00 0.00 76,201.00 0.00 term holding for N/A
strategic reasons
With intention of long-
MOOV INC. 0.00 0.00 906,167.00 0.00 term holding for N/A
strategic reasons
With intention of long-
Illumina Fund I,L.P. 0.00 5,839,017.00 0.00 0.00 term holding for N/A
strategic reasons
With intention of long-
ACQIS Technology, Inc. 0.00 0.00 221,680.00 0.00 term holding for N/A
strategic reasons
Beijing Dongfang With intention of long-
0.00 0.00 180,000.00 0.00 N/A
Electronic Industry Co. term holding for
136
BOE Technology Group Co., Ltd. Interim Report 2022
Ltd. strategic reasons
Beijing Jingguoguan With intention of long-
Equity Investment Fund 0.00 0.00 0.00 0.00 term holding for N/A
(Limited Partnership) strategic reasons
Other notes: N/A
14. Other Non-current Financial Assets
Unit: RMB
Item Ending balance Beginning balance
Equity investment 606,895,447.00 606,895,447.00
Total 606,895,447.00 606,895,447.00
Other notes: N/A
15. Investment Property
(1) Investment Property Adopted the Cost Measurement Mode
Applicable □ Not applicable
Unit: RMB
Construction
Item Houses and buildings Land use rights Total
in progress
I. Original carrying value
1. Beginning balance 1,022,831,969.00 687,434,677.00 0.00 1,710,266,646.00
2. Increased amount of the period 0.00 0.00 0.00 0.00
(1) Outsourcing 0.00 0.00 0.00 0.00
(2)Transfer from inventory/fixed
0.00 0.00 0.00 0.00
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 1,022,831,969.00 687,434,677.00 0.00 1,710,266,646.00
II. Accumulative depreciation and
accumulative amortization
1. Beginning balance 383,883,440.00 168,017,805.00 0.00 551,901,245.00
2. Increased amount of the period 14,010,060.00 6,811,350.00 0.00 20,821,410.00
(1)Withdrawal or amortization 14,010,060.00 6,811,350.00 0.00 20,821,410.00
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 397,893,500.00 174,829,155.00 0.00 572,722,655.00
III. Depreciation reserves
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 624,938,469.00 512,605,522.00 0.00 1,137,543,991.00
137
BOE Technology Group Co., Ltd. Interim Report 2022
1. Beginning carrying value 638,948,529.00 519,416,872.00 0.00 1,158,365,401.00
(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 214,032,994,330.00 227,141,366,885.00
Disposal of fixed assets 0.00 0.00
Total 214,032,994,330.00 227,141,366,885.00
(1) List of Fixed Assets
Unit: RMB
Item Plant & buildings Equipment Others Total
I. Original carrying value
1. Beginning balance 65,746,184,870.00 289,073,320,849.00 10,027,118,299.00 364,846,624,018.00
2. Increased amount of the
20,093,429.00 2,758,961,061.00 861,211,947.00 3,640,266,437.00
period
(1) Purchase 15,393,508.00 517,008,989.00 690,351,648.00 1,222,754,145.00
(2)Transfer from
17,944,723.00 2,374,576,693.00 213,556,293.00 2,606,077,709.00
construction in progress
(3) Business combination
0.00 0.00 0.00 0.00
increase
(4) Offset of government
0.00 -62,696,794.00 -11,753,413.00 -74,450,207.00
grants
(5) Differences arising
from translation of foreign
-13,244,802.00 -69,927,827.00 -30,942,581.00 -114,115,210.00
currency-denominated financial
statements
3. Decreased amount of the
0.00 261,345,826.00 65,899,497.00 327,245,323.00
period
(1) Disposal or scrap 0.00 261,345,826.00 65,899,497.00 327,245,323.00
4. Ending balance 65,766,278,299.00 291,570,936,084.00 10,822,430,749.00 368,159,645,132.00
II. Accumulative depreciation
1. Beginning balance 7,908,069,483.00 122,199,288,667.00 5,704,812,685.00 135,812,170,835.00
2. Increased amount of the
1,067,610,891.00 14,714,483,775.00 931,094,282.00 16,713,188,948.00
period
(1) Withdrawal 1,065,659,469.00 14,675,738,562.00 928,181,535.00 16,669,579,566.00
(2) Differences arising
from translation of foreign
1,951,422.00 38,745,213.00 2,912,747.00 43,609,382.00
currency-denominated financial
statements
3. Decreased amount of the
0.00 206,535,913.00 28,092,585.00 234,628,498.00
period
(1) Disposal or scrap 0.00 206,535,913.00 28,092,585.00 234,628,498.00
138
BOE Technology Group Co., Ltd. Interim Report 2022
4. Ending balance 8,975,680,374.00 136,707,236,529.00 6,607,814,382.00 152,290,731,285.00
III. Depreciation reserves
1. Beginning balance 34,480.00 1,704,957,933.00 188,093,885.00 1,893,086,298.00
2. Increased amount of the
0.00 0.00 0.00 0.00
period
(1) Withdrawal 0.00 0.00 0.00 0.00
3. Decreased amount of the
0.00 56,858,324.00 308,457.00 57,166,781.00
period
(1) Disposal or scrap 0.00 56,858,324.00 308,457.00 57,166,781.00
4. Ending balance 34,480.00 1,648,099,609.00 187,785,428.00 1,835,919,517.00
IV. Carrying value
1. Ending carrying value 56,790,563,445.00 153,215,599,946.00 4,026,830,939.00 214,032,994,330.00
2. Beginning carrying value 57,838,080,907.00 165,169,074,249.00 4,134,211,729.00 227,141,366,885.00
(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 81,238,273.00
(4) List of Fixed Assets with Certificate of Title Uncompleted
On 30 June 2022, the carrying value of fixed assets with certificate of title uncompleted totaled RMB6,825,687,457.00, 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 40,146,851,520.00 32,099,711,879.00
Engineering materials 0.00 0.00
Total 40,146,851,520.00 32,099,711,879.00
139
BOE Technology Group Co., Ltd. Interim Report 2022
(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 line-
29,398,398,474.00 0.00 29,398,398,474.00 24,774,517,248.00 0.00 24,774,517,248.00
Chongqing
Others 10,792,946,870.00 44,493,824.00 10,748,453,046.00 7,369,688,455.00 44,493,824.00 7,325,194,631.00
Total 40,191,345,344.00 44,493,824.00 40,146,851,520.00 32,144,205,703.00 44,493,824.00 32,099,711,879.00
(2) Changes in Significant Construction in Progress during the Reporting Period
Unit: RMB
Of which:
Other Capitalizati
Proportion of Amount of
decreased Accumulated on rate of
Transfer in accumulated capitalized Sources
Beginning Increased amount Ending Job amount of interests for
Item Budget intangible investment in interests for of
balance amount during the balance schedule interest the
assets constructions the funding
Reporting capitalization Reporting
to budget Reporting
Period Period
Period
The 6th
generation
Self-
AMOLED
29,398,3 raised
(flexible) 46,500,000,00 24,774,517,24 4,625,257,864.0 1,376,638.0 347,046,410.0 161,255,667.
0.00 98,474.0 65.91% 65.91% 3.51% and
productio 0.00 8.00 0 0 0 00
0 borrowi
n line-
ngs
Chongqin
g
29,398,3
46,500,000,00 24,774,517,24 4,625,257,864.0 1,376,638.0 347,046,410.0 161,255,667.
Total 0.00 98,474.0 -
0.00 8.00 0 0 0 00
0
(3) Provisions for Impairment of Construction in Progress during the Reporting Period
140
BOE Technology Group Co., Ltd. Interim Report 2022
Unit: RMB
Item Withdrawal amount Reason for withdrawal
N/A
Other notes:
N/A
141
BOE Technology Group Co., Ltd. Interim Report 2022
(4) Engineering Materials
Unit: RMB
Ending balance Beginning balance
Item Provision for Carrying Provision for Carrying
Book value Book value
impairment amounts impairment amounts
N/A
Total 0.00 0.00
Other notes: N/A
18. Right-of-Use Assets
Unit: RMB
Item Houses and buildings Equipment Others Total
I. Original carrying
value
1. Beginning balance 567,247,967.00 107,357,735.00 192,885,015.00 867,490,717.00
2. Increased amount
205,424,514.00 1,408,822.00 158,588.00 206,991,924.00
of the period
(1) Addition 196,418,051.00 3,483,436.00 208,949.00 200,110,436.00
(2) Exchange rate
9,006,463.00 -2,074,614.00 -50,361.00 6,881,488.00
change
3. Decreased amount
84,437.00 0.00 0.00 84,437.00
of the period
4. Ending balance 772,588,044.00 108,766,557.00 193,043,603.00 1,074,398,204.00
II. Accumulative
depreciation
1. Beginning balance 82,687,553.00 22,013,731.00 9,625,196.00 114,326,480.00
2. Increased amount
72,505,055.00 2,855,292.00 5,266,876.00 80,627,223.00
of the period
(1) Withdrawal 67,118,720.00 3,546,806.00 5,012,528.00 75,678,054.00
(2) Exchange rate
5,386,335.00 -691,514.00 254,348.00 4,949,169.00
change
3. Decreased amount
0.00 0.00 0.00 0.00
of the period
(1) Disposal 0.00 0.00 0.00 0.00
(2) Fluctuation of
exchange rate
4. Ending balance 155,192,608.00 24,869,023.00 14,892,072.00 194,953,703.00
III. Depreciation
reserves
1. Beginning balance 0.00 0.00 0.00 0.00
2. Increased amount
0.00 0.00 0.00 0.00
of 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
1. Ending carrying
617,395,436.00 83,897,534.00 178,151,531.00 879,444,501.00
value
2. Beginning
484,560,414.00 85,344,004.00 183,259,819.00 753,164,237.00
carrying value
Other notes: N/A
142
BOE Technology Group Co., Ltd. Interim Report 2022
19. Intangible Assets
(1) List of Intangible Assets
Unit: RMB
Patent and
Non-patent
Item Land use rights Patent proprietary Computer software Others Total
technology
technology
I. Original carrying value
1. Beginning balance 5,539,522,787.00 0.00 0.00 6,978,992,728.00 1,676,849,060.00 1,549,958,675.00 15,745,323,250.00
2. Increased amount of the
232,590.00 0.00 0.00 -10,218,312.00 81,683,962.00 1,208,292.00 72,906,532.00
period
(1) Purchase 232,590.00 0.00 0.00 8,727,783.00 41,174,149.00 0.00 50,134,522.00
(2) Internal R&D 0.00 0.00 0.00 0.00 0.00 0.00 0.00
(3) Business
0.00 0.00 0.00 0.00 0.00 0.00 0.00
combination increase
(4) Transfer from
0.00 0.00 0.00 0.00 40,513,856.00 112,297.00 40,626,153.00
construction in progress
(5) Exchange
0.00 0.00 0.00 -18,946,095.00 -4,043.00 1,095,995.00 -17,854,143.00
differences
3. Decreased amount of the
0.00 0.00 0.00 0.00 232,252.00 0.00 232,252.00
period
(1) Disposal 0.00 0.00 0.00 0.00 232,252.00 0.00 232,252.00
4. Ending balance 5,539,755,377.00 0.00 0.00 6,968,774,416.00 1,758,300,770.00 1,551,166,967.00 15,817,997,530.00
II. Accumulated amortization
1. Beginning balance 524,719,007.00 0.00 0.00 2,613,841,165.00 999,888,044.00 397,376,628.00 4,535,824,844.00
2. Increased amount of the
66,082,103.00 0.00 0.00 303,988,879.00 92,117,134.00 45,494,076.00 507,682,192.00
period
(1) Withdrawal 66,082,103.00 0.00 0.00 308,827,784.00 92,130,681.00 45,087,855.00 512,128,423.00
(2) Exchange
0.00 0.00 0.00 -4,838,905.00 -13,547.00 406,221.00 -4,446,231.00
differences
3. Decreased amount of
0.00 0.00 0.00 0.00 232,252.00 0.00 232,252.00
the period
(1) Disposal 0.00 0.00 0.00 0.00 232,252.00 0.00 232,252.00
4. Ending balance 590,801,110.00 0.00 0.00 2,917,830,044.00 1,091,772,926.00 442,870,704.00 5,043,274,784.00
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
143
BOE Technology Group Co., Ltd. Interim Report 2022
(1) Withdrawal 0.00 0.00 0.00 0.00 0.00 0.00 0.00
3. Decreased amount of
0.00 0.00 0.00 0.00 0.00 0.00 0.00
the 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 4,948,954,267.00 0.00 0.00 4,050,944,372.00 666,527,844.00 1,108,296,263.00 10,774,722,746.00
2. Beginning carrying
5,014,803,780.00 0.00 0.00 4,365,151,563.00 676,961,016.00 1,152,582,047.00 11,209,498,406.00
value
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
Unit: RMB
Item Carrying value Reason
N/A
Other notes:
N/A
144
BOE Technology Group Co., Ltd. Interim Report 2022
20. Goodwill
(1) Original Carrying Value of Goodwill
Unit: RMB
Increase Decrease
Name of the invested units or events Formed by
Beginning balance Ending balance
generating goodwill business Disposals
combination
Chengdu CEC Panda Display Technology
537,038,971.00 0.00 0.00 537,038,971.00
Co., Ltd.
Nanjing BOE Display Technology Co.,
155,714,415.00 0.00 0.00 155,714,415.00
Ltd.
BOE Healthcare Investment &
146,460,790.00 0.00 0.00 146,460,790.00
Management Co., Ltd.
Beijing Yinghe Century Co., Ltd. 42,940,434.00 0.00 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 Technology
4,423,876.00 0.00 0.00 4,423,876.00
Co., Ltd.
SES Imagotag SA Co.Ltd. 706,406,821.00 0.00 0.00 706,406,821.00
Hefei Jiangcheng Technical Co., Ltd. 9,391,961.00 0.00 0.00 9,391,961.00
Total 1,610,939,732.00 0.00 0.00 1,610,939,732.00
(2) Provisions for Impairment of Goodwill
Unit: RMB
Name of the invested units or events Increase Decrease
Beginning balance Ending balance
generating goodwill Withdrawal Disposal
BOE Healthcare Investment &
82,137,669.00 0.00 0.00 82,137,669.00
Management Co., Ltd.
Beijing BOE Optoelectronics Technology
4,423,876.00 0.00 0.00 4,423,876.00
Co., Ltd.
SES Imagotag SA Co.Ltd. 394,371,200.00 0.00 0.00 394,371,200.00
Total 480,932,745.00 0.00 0.00 480,932,745.00
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
N/A
Other notes:
N/A
21. Long-term Prepaid Expense
Unit: RMB
Amortization
Beginning Increased Other decreased
Item amount of the Ending balance
balance amount amount
period
145
BOE Technology Group Co., Ltd. Interim Report 2022
Payment for public facilities
51,962,118.00 0.00 6,542,763.00 0.00 45,419,355.00
construction and use
Cost of operating lease assets
10,325,942.00 7,329,297.00 5,164,811.00 0.00 12,490,428.00
improvement
Others 574,242,442.00 34,821,622.00 67,595,257.00 861,718.00 540,607,089.00
Total 636,530,502.00 42,150,919.00 79,302,831.00 861,718.00 598,516,872.00
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 Deductible
temporary Deferred tax assets temporary Deferred tax assets
differences differences
Provision for impairment of assets 103,389,472.00 22,381,659.00 113,867,486.00 24,884,958.00
Internal unrealized profit 0.00 0.00 0.00 0.00
Deductible tax losses 410,743,867.00 114,618,265.00 422,990,806.00 118,064,555.00
Changes in fair value of investments
138,973,307.00 20,845,996.00 139,523,200.00 20,928,480.00
in other equity instruments
Depreciation of fixed assets 207,688,047.00 36,254,242.00 201,462,125.00 34,642,083.00
Assessed value added by investing
122,672,343.00 30,668,086.00 125,449,252.00 31,362,313.00
real estate in subsidiaries
Others 297,214,805.00 48,206,693.00 516,022,153.00 50,481,965.00
Total 1,280,681,841.00 272,974,941.00 1,519,315,022.00 280,364,354.00
(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 2,116,503,658.00 561,518,738.00 2,197,597,331.00 584,383,821.00
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
0.00 0.00 0.00 0.00
in other equity instruments
Depreciation of fixed assets 6,650,188,539.00 1,023,512,407.00 6,388,163,232.00 984,779,332.00
Long-term equity investments 120,141,687.00 18,021,253.00 120,141,687.00 18,021,253.00
Others 198,672,019.00 35,321,330.00 167,106,175.00 28,467,297.00
Total 9,085,505,903.00 1,638,373,728.00 8,873,008,425.00 1,615,651,703.00
(3) Deferred Income Tax Assets or Liabilities Listed by Net Amount after Off-set
Unit: RMB
Mutual set-off amount Ending balance of Mutual set-off amount Beginning balance of
of deferred income tax deferred income tax of 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 89,946,347.00 183,028,594.00 90,028,830.00 190,335,524.00
146
BOE Technology Group Co., Ltd. Interim Report 2022
Deferred tax liabilities 89,946,347.00 1,548,427,381.00 90,028,830.00 1,525,622,873.00
(4) List of Unrecognized Deferred Income Tax Assets
Unit: RMB
Item Ending balance Beginning balance
Deductible temporary differences 20,564,945,146.00 24,215,956,667.00
Deductible tax losses 24,538,479,899.00 19,433,679,291.00
Total 45,103,425,045.00 43,649,635,958.00
(5) Deductible Losses of Unrecognized Deferred Income Tax Assets will Due in the Following Years
Unit: RMB
Year Ending amount Beginning amount Notes
2022 97,027,350.00 316,585,394.00 N/A
2023 113,941,428.00 290,518,573.00 N/A
2024 309,426,324.00 458,962,394.00 N/A
2025 710,217,945.00 1,276,919,825.00 N/A
2026 1,586,872,252.00 1,785,437,184.00 N/A
2027 1,128,002,131.00 14,979,073.00 N/A
2028 2,214,431,524.00 2,221,266,958.00 N/A
2029 4,952,769,121.00 5,296,070,440.00 N/A
2030 4,201,823,386.00 4,368,141,751.00 N/A
2031 2,366,194,417.00 2,406,109,565.00 N/A
2032 5,962,150,391.00 0.00 N/A
Others 895,623,630.00 998,688,134.00 N/A
Total 24,538,479,899.00 19,433,679,291.00
Other notes:
N/A
23. Other Non-current Assets
Unit: RMB
Ending balance Beginning balance
Item Provision Provision
Book value for Carrying amounts Book value for Carrying amounts
impairment impairment
Contract acquisition
0.00 0.00 0.00 0.00 0.00 0.00
cost
Costs to fulfil a
contract with a 0.00 0.00 0.00 0.00 0.00 0.00
customer
Costs receivables for
recovering products 0.00 0.00 0.00 0.00 0.00 0.00
from a customer
Contract assets 491,044.00 0.00 491,044.00 420,101.00 0.00 420,101.00
Deferred VAT for
0.00 0.00 0.00 1,407,330,930.00 0.00 1,407,330,930.00
imported equipment
Prepayment for fixed
324,390,301.00 0.00 324,390,301.00 572,510,455.00 0.00 572,510,455.00
assets
VAT on tax credits 1,013,166,019.00 0.00 1,013,166,019.00 3,424,055,815.00 0.00 3,424,055,815.00
Prepayments for
265,393,538.00 0.00 265,393,538.00 224,400,336.00 0.00 224,400,336.00
construction
Prepayment for
management fee of 183,867,218.00 0.00 183,867,218.00 204,757,059.00 0.00 204,757,059.00
loans
147
BOE Technology Group Co., Ltd. Interim Report 2022
Cash deposit 1,376,511,249.00 0.00 1,376,511,249.00 1,339,517,936.00 0.00 1,339,517,936.00
Others 713,204,193.00 0.00 713,204,193.00 304,434,851.00 0.00 304,434,851.00
Total 3,877,023,562.00 0.00 3,877,023,562.00 7,477,427,483.00 0.00 7,477,427,483.00
Other notes:
N/A
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 0.00
Guaranteed loan 901,475,000.00 1,352,433,750.00
Credit loan 1,865,163,569.00 719,623,582.00
Total 2,766,638,569.00 2,072,057,332.00
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
Other notes:
N/A
25. Notes Payable
Unit: RMB
Item Ending balance Beginning balance
Commercial acceptance bills 429,850,806.00 663,001,350.00
Bank acceptance bills 39,563,262.00 164,956,681.00
Total 469,414,068.00 827,958,031.00
The total overdue and outstanding notes payable at the period-end were RMB0.00.
26. Accounts Payable
(1) List of Accounts Payable
Unit: RMB
148
BOE Technology Group Co., Ltd. Interim Report 2022
Item Ending balance Beginning balance
Payables to related parties 140,379,125.00 142,557,107.00
Payables to third parties 31,309,263,788.00 32,313,273,587.00
Total 31,449,642,913.00 32,455,830,694.00
(2) Significant Accounts Payable Aging over One Year
Unit: RMB
Item Ending balance Unpaid/Un-carry-over reason
N/A
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 101,901,227.00 145,178,278.00
Advances from related parties 191,731.00 961,806.00
Total 102,092,958.00 146,140,084.00
(2) Significant Advances from Customers Aging over One Year
Unit: RMB
Item Ending balance Unpaid/ Un-carry-over reason
N/A
Other notes: N/A
28. Contract Liabilities
Unit: RMB
Item Ending balance Beginning balance
Sale of goods 3,306,387,693.00 3,765,081,554.00
Total 3,306,387,693.00 3,765,081,554.00
The amount of significant changes of carrying value and reason during the Reporting Period:
Unit: RMB
Item Amount changed Reason
N/A
29. Payroll Payable
(1) List of Payroll Payable
Unit: RMB
Item Beginning balance Increase Decrease Ending balance
I. Short-term salary 5,098,605,495.00 8,485,269,634.00 10,840,243,957.00 2,743,631,172.00
149
BOE Technology Group Co., Ltd. Interim Report 2022
II. Post-employment benefit-
34,235,855.00 712,130,853.00 690,383,850.00 55,982,858.00
defined contribution plans
III. Termination benefits 313,887.00 7,108,617.00 7,098,006.00 324,498.00
IV. Other benefits due within one
0.00 0.00 0.00 0.00
year
Total 5,133,155,237.00 9,204,509,104.00 11,537,725,813.00 2,799,938,528.00
(2) List of Short-term Salary
Unit: RMB
Item Beginning balance Increase Decrease Ending balance
1. Salary, bonus, allowance,
4,304,276,089.00 7,012,344,890.00 9,474,396,472.00 1,842,224,507.00
subsidy
2. Employee welfare 0.00 544,899,792.00 544,899,792.00 0.00
3. Social insurance 43,095,684.00 356,511,404.00 344,195,634.00 55,411,454.00
Of which: Medical insurance
38,317,039.00 330,426,473.00 319,455,586.00 49,287,926.00
premiums
Work-related injury
2,583,340.00 19,763,033.00 18,778,524.00 3,567,849.00
insurance
Maternity insurance 2,195,305.00 6,321,898.00 5,961,524.00 2,555,679.00
4. Housing fund 33,089,973.00 387,014,584.00 385,598,358.00 34,506,199.00
5. Labor union budget and
697,018,542.00 184,373,914.00 90,555,161.00 790,837,295.00
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. Bonus and allowance bond 20,553,209.00 0.00 0.00 20,553,209.00
9. Other short-term salary 571,998.00 125,050.00 598,540.00 98,508.00
Total 5,098,605,495.00 8,485,269,634.00 10,840,243,957.00 2,743,631,172.00
(3) List of Defined Contribution Plans
Unit: RMB
Item Beginning balance Increase Decrease Ending balance
1. Basic pension benefits 30,284,940.00 618,313,150.00 607,813,513.00 40,784,577.00
2. Unemployment insurance 906,583.00 19,886,963.00 19,743,844.00 1,049,702.00
3. Annuity 3,044,332.00 73,930,740.00 62,826,493.00 14,148,579.00
Total 34,235,855.00 712,130,853.00 690,383,850.00 55,982,858.00
Other notes:
N/A
30. Taxes Payable
Unit: RMB
Item Ending balance Beginning balance
Value-added tax 87,749,195.00 101,448,944.00
Consumption tax 0.00 0.00
Corporate income tax 729,658,045.00 1,266,575,648.00
Individual income tax 38,572,453.00 58,763,365.00
City maintenance and construction tax 419,008,837.00 383,455,432.00
Education surcharges and local education
299,672,620.00 274,382,851.00
surcharges
Others 102,429,789.00 115,623,065.00
Total 1,677,090,939.00 2,200,249,305.00
150
BOE Technology Group Co., Ltd. Interim Report 2022
Other notes:
N/A
31. Other Payables
Unit: RMB
Item Ending balance Beginning balance
Interest payable 138,850.00 126,701.00
Dividends payable 49,630,531.00 6,561,972.00
Other payables 20,657,189,701.00 23,828,686,269.00
Total 20,706,959,082.00 23,835,374,942.00
(1) Interest Payable
Unit: RMB
Item Ending balance Beginning balance
Long-term loan interest of installment
payment of interest and repay the due 0.00 0.00
capital
Enterprise bond interest 0.00 0.00
Interest paid for short-term borrowings 138,850.00 126,701.00
Interest of preferred shares/perpetual
0.00 0.00
bonds classified as financial liabilities
Others 0.00 0.00
Total 138,850.00 126,701.00
Significant overdue and outstanding interests:
Unit: RMB
Borrower Overdue amount Reason
N/A
Other notes:
N/A
(2) Dividends Payable
Unit: RMB
Item Ending balance Beginning balance
Ordinary share dividends 49,630,531.00 6,561,972.00
Dividends of preferred shares/perpetual
0.00 0.00
bonds classified as equity instruments
Others 0.00 0.00
Total 49,630,531.00 6,561,972.00
Other notes, including the reason for unpayment of significant dividends payable unpaid for over one year:
None
151
BOE Technology Group Co., Ltd. Interim Report 2022
(3) Other Accounts Payable
1) Other Accounts Payable Listed by Nature of Account
Unit: RMB
Item Ending balance Beginning balance
Projects and equipment 14,429,922,370.00 16,494,274,603.00
Fund transaction 3,103,057,528.00 3,077,116,568.00
Repurchase obligation of restricted
768,270,645.00 835,215,390.00
shares
Deferred VAT for imported equipment 0.00 927,825,520.00
Pre-withdrawal water and electricity &
448,261,464.00 348,955,956.00
logistics freight
Margin 531,774,369.00 537,788,828.00
External agency fee 156,583,359.00 193,251,964.00
Others 1,219,319,966.00 1,414,257,440.00
Total 20,657,189,701.00 23,828,686,269.00
2) Significant Other Accounts Payable Aging over One Year
Unit: RMB
Item Ending balance Unpaid/Un-carry-over reason
N/A
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 26,720,769,038.00 27,907,851,457.00
Bonds payable due within 1 year 0.00 0.00
Long-term accounts payable due within 1
207,794,145.00 520,546,343.00
year
Lease liabilities due within 1 year 64,156,359.00 92,788,055.00
Others 360,267,940.00 353,772,859.00
Total 27,352,987,482.00 28,874,958,714.00
Other notes: The interest rate of RMB long-term loans due within one year for the Group ranged from 0% to 5.88% in 2022 (2021:
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 132,489,079.00 141,997,964.00
Warranty provisions 3,606,031,076.00 3,595,808,261.00
Pending output VAT 183,413,008.00 216,565,073.00
Others 110,188,709.00 97,161,211.00
Total 4,032,121,872.00 4,051,532,509.00
Increase or decrease in short-term bonds payable:
152
BOE Technology Group Co., Ltd. Interim Report 2022
Unit: RMB
Issued Amortization
Interest Repayment
Face Issuance Maturity Issuance Beginning in the of premium Ending
Debenture at face during the
value date period amount balance Current and balance
value period
Period depreciation
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 610,306,000.00 551,057,843.00
Mortgage loan 70,712,167,474.00 76,397,414,046.00
Guaranteed loan 4,012,491,590.00 3,942,294,934.00
Credit loan 48,523,669,518.00 35,187,899,764.00
Total 123,858,634,582.00 116,078,666,587.00
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 2022 (2021: from 0% to 5.90%).
153
BOE Technology Group Co., Ltd. Interim Report 2022
35. Bonds Payable
(1) Bonds Payable
Unit: RMB
Item Ending balance Beginning balance
Euro PP 355,835,127.00 359,586,437.00
Total 355,835,127.00 359,586,437.00
(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
Issued Amortization arising from
Repayment
Issuance Maturity Beginning in the Interest at of premium translation of
Debenture Face value Issuance amount during the Ending balance
date period balance Current face value and foreign
period
Period depreciation currency
financial
statements
Euro PP 2016.12.29 7 years EUR10,000,000 71,955,154.00 0.00 1,230,049.00 51,922.00 0.00 -2,120,158.00 71,116,967.00
EUR10,000,000
Euro PP 2017.03.29 6 years EUR30,000,000 216,118,687.00 0.00 3,690,146.00 191,838.00 0.00 -6,368,285.00 213,632,386.00
EUR30,000,000
Euro PP 2019.07.22 6 years EUR10,000,000 71,512,596.00 0.00 1,599,063.00 85,794.00 0.00 -2,111,679.00 71,085,774.00
EUR10,000,000
-
Total —— EUR50,000,000 359,586,437.00 0.00 6,519,258.00 329,554.00 0.00 355,835,127.00
10,600,122.00
(3) Explanations on Share Transfer Conditions and Time for Convertible Corporate Bonds
N/A
154
BOE Technology Group Co., Ltd. Interim Report 2022
(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 Carrying Carrying Carrying Carrying
instruments Quantity Quantity Quantity Quantity
amounts amounts amounts amounts
N/A
Notes to the basis of classifying other financial instruments as financial liabilities
N/A
Other notes:
N/A
36. Lease Liabilities
Unit: RMB
Item Ending balance Beginning balance
Lease liabilities 747,894,221.00 669,130,264.00
Total 747,894,221.00 669,130,264.00
Other notes:
N/A
37. Long-term Accounts Payable
Unit: RMB
Item Ending balance Beginning balance
Long-term payables 776,386,166.00 906,592,838.00
Specific payables 0.00 0.00
Total 776,386,166.00 906,592,838.00
(1) Long-term Accounts Payable Listed by Nature of Account
Unit: RMB
Item Ending balance Beginning balance
Long-term payables 776,386,166.00 906,592,838.00
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 0.00 0.00
Other notes: N/A
155
BOE Technology Group Co., Ltd. Interim Report 2022
38. Deferred Income
Unit: RMB
Item Beginning balance Increase Decrease Ending balance Formed reason
Government grants 6,416,089,611.00 2,439,506,976.00 2,641,413,054.00 6,214,183,533.00 Government grants
Total 6,416,089,611.00 2,439,506,976.00 2,641,413,054.00 6,214,183,533.00
Item involving government grants:
Unit: RMB
Amount recorded Amount recorded
Amount offset Related to
Beginning Amount of newly into non-operating into other income
Item cost in the Other changes Ending balance assets/related to
balance subsidy income in the in Reporting
Reporting Period income
Reporting Period Period
Related to assets 3,865,273,297.00 572,892,883.00 0.00 439,754,949.00 0.00 62,913,373.00 3,935,497,858.00 Related to assets
Related to income 2,550,816,314.00 1,866,614,093.00 0.00 2,124,923,130.00 0.00 13,821,602.00 2,278,685,675.00 Related to income
Total 6,416,089,611.00 2,439,506,976.00 0.00 2,564,678,079.00 0.00 76,734,975.00 6,214,183,533.00 ——
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
3,015,214,692.00 3,020,160,654.00
provisions
Deferred VAT for imported equipment 0.00 479,505,410.00
Others 34,301,425.00 36,143,812.00
Total 3,049,516,117.00 3,535,809,876.00
Other notes:
N/A
40. Share Capital
156
BOE Technology Group Co., Ltd. Interim Report 2022
Unit: RMB
Increase/decrease (+/-)
Item Beginning balance Bonus issue from Ending balance
New issues Bonus shares Others Sub-total
profit
Total shares 38,445,746,482.00 0.00 0.00 0.00 0.00 0.00 38,445,746,482.00
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 Conditions for Conversion
financial classification or conversion status
instruments renewal status
29 October Equity
19BOEY1 4.00% RMB 100/bond 80 million RMB 8 billion 3+N years Not applicable Not applicable
2019 instrument
28 February Equity
20BOEY1 3.64% RMB 100/bond 20 million RMB 2 billion 3+N years Not applicable Not applicable
2020 instrument
Equity
20BOEY2 19 March 2020 3.54% RMB 100/bond 20 million RMB 2 billion 3+N years Not applicable Not applicable
instrument
Equity
20BOEY3 27 April 2020 3.50% RMB 100/bond 20 million RMB 2 billion 3+N years Not applicable Not applicable
instrument
Equity
22BOEY1 25 March 2022 3.50% RMB 100/bond 20 million RMB 2 billion 3+N years Not applicable Not applicable
instrument
(2) Changes in Financial Instruments such as Preferred Stock and Perpetual Bond Outstanding at the End of the Period
157
BOE Technology Group Co., Ltd. Interim Report 2022
Unit: RMB
Outstanding financial Period-beginning Increase Decrease Period-end
instruments Quantity Carrying amounts Quantity Carrying amounts Quantity Carrying amounts Quantity Carrying amounts
19BOEY1-original
80,000,000.00 7,957,047,264.00 0.00 0.00 0.00 0.00 80,000,000.00 7,957,047,264.00
value
20BOEY1-original
20,000,000.00 1,989,179,245.00 0.00 0.00 0.00 0.00 20,000,000.00 1,989,179,245.00
value
20BOEY2-original
20,000,000.00 1,989,320,755.00 0.00 0.00 0.00 0.00 20,000,000.00 1,989,320,755.00
value
20BOEY3-original
20,000,000.00 1,989,415,094.00 0.00 0.00 0.00 0.00 20,000,000.00 1,989,415,094.00
value
22BOEY1-original
0.00 0.00 20,000,000.00 1,989,415,094.00 0.00 0.00 20,000,000.00 1,989,415,094.00
value
19BOEY1-interest 0.00 56,986,301.00 0.00 158,684,931.00 0.00 0.00 0.00 215,671,232.00
20BOEY1-interest 0.00 61,431,233.00 0.00 36,100,822.00 0.00 72,800,000.00 0.00 24,732,055.00
20BOEY2-interest 0.00 55,864,110.00 0.00 35,109,041.00 0.00 70,800,000.00 0.00 20,173,151.00
20BOEY3-interest 0.00 47,753,425.00 0.00 34,712,329.00 0.00 70,000,000.00 0.00 12,465,754.00
22BOEY1-interest 0.00 0.00 0.00 18,794,521.00 0.00 0.00 0.00 18,794,521.00
Total 140,000,000.00 14,146,997,427.00 20,000,000.00 2,272,816,738.00 0.00 213,600,000.00 160,000,000.00 16,206,214,165.00
Changes in other equity instruments for the Current Period, explanation on reasons for the changes and basis for related accounting treatment:
On 30 June 2022, as the issued renewable corporate bonds aforementioned are classified as cumulative other equity instruments, the Company accrued interest of RMB283,401,644.00 on renewable
corporate bonds from undistributed profits and paid interest of RMB213,600,000.00.
Other notes:
N/A
158
BOE Technology Group Co., Ltd. Interim Report 2022
42. Capital Reserves
Unit: RMB
Item Beginning balance Increase Decrease Ending balance
Capital premium
53,267,488,127.00 196,029,051.00 1,654,497.00 53,461,862,681.00
(premium on stock)
Other capital reserves 536,821,266.00 319,398,222.00 6,843,684.00 849,375,804.00
Total 53,804,309,393.00 515,427,273.00 8,498,181.00 54,311,238,485.00
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
3,415,768,207.00 274,740,201.00 60,417,632.00 3,630,090,776.00
shares
Total 3,415,768,207.00 274,740,201.00 60,417,632.00 3,630,090,776.00
Other notes, including notes to increase and decrease during the Reporting Period and the reasons for changes:
N/A
159
BOE Technology Group Co., Ltd. Interim Report 2022
44. Other Comprehensive Income
Unit: RMB
Reporting Period
Less: Recorded in
Less: Recorded in
other
other
comprehensive Net-of-tax
Beginning comprehensive Net-of-tax amount
Item Income before income in prior amount Ending balance
balance income in prior Less: Income tax attributable to
taxation in the period and attributable to
period and expense shareholders of the
Current Period transferred in non-controlling
transferred in Company
retained earnings interests
profit or loss in the
in the Current
Current Period
Period
I. Other comprehensive income
that will not be reclassified to 34,424,335.00 -20,527,203.00 0.00 6,283,336.00 82,484.00 -26,893,023.00 0.00 7,531,312.00
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
207,633,206.00 -10,265,385.00 0.00 6,283,336.00 0.00 -16,548,721.00 0.00 191,084,485.00
reclassified to profit or loss under
equity method
Changes in fair value of
investments in other equity -173,208,871.00 -10,261,818.00 0.00 0.00 82,484.00 -10,344,302.00 0.00 -183,553,173.00
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 may be reclassified to profit 79,126,812.00 -476,450,189.00 0.00 0.00 0.00 -457,928,648.00 -18,521,541.00 -378,801,836.00
or loss
Of which: Other comprehensive
income that will be reclassified to -284,718.00 51,684.00 0.00 0.00 0.00 51,684.00 0.00 -233,034.00
profit or loss under equity method
Changes in fair value of
investment in other debt 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
obligations
Amount of financial assets
reclassified to other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
comprehensive 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
160
BOE Technology Group Co., Ltd. Interim Report 2022
Reserves for cash flow
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
hedges
Translation differences
arising from translation of foreign 79,411,530.00 -476,501,873.00 0.00 0.00 0.00 -457,980,332.00 -18,521,541.00 -378,568,802.00
currency financial statements
Total of other comprehensive
113,551,147.00 -496,977,392.00 0.00 6,283,336.00 82,484.00 -484,821,671.00 -18,521,541.00 -371,270,524.00
income
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
161
BOE Technology Group Co., Ltd. Interim Report 2022
45. Surplus Reserves
Unit: RMB
Item Beginning balance Increase Decrease Ending balance
Statutory surplus
2,599,918,896.00 628,334.00 0.00 2,600,547,230.00
reserve
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 2,889,590,205.00 628,334.00 0.00 2,890,218,539.00
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 adjustments 36,941,121,452.00 15,509,794,622.00
Total beginning balance of retained profits before 30,852,512.00
160,668,659.00
adjustments (increase+, decrease-)
Beginning balance of retained profits after adjustments 37,101,790,111.00 15,540,647,134.00
Add: Net profit attributable to owners of the Company as 25,960,751,647.00
6,595,661,738.00
the parent
Less: Appropriation for statutory surplus reserve 0.00 439,649,657.00
Withdrawal of discretional surplus reserves 0.00 0.00
Withdrawal of general reserve 0.00 0.00
Dividends to ordinary shares 7,954,814,928.00 3,476,073,919.00
Dividend of common stock transferred into share
0.00 0.00
capital
Interest on holders of other equity instruments 283,401,644.00 533,600,000.00
Transfer of other comprehensive income to retained
-5,655,002.00 -49,714,906.00
earnings
Retained earnings 35,464,890,279.00 37,101,790,111.00
List of adjustment of beginning retained profits:
(1) RMB160,668,659.00 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 89,179,455,575.00 72,658,074,746.00 106,912,632,987.00 74,211,708,811.00
Other operating
2,430,786,294.00 1,840,993,616.00 1,705,385,723.00 1,208,698,455.00
activities
Total 91,610,241,869.00 74,499,068,362.00 108,618,018,710.00 75,420,407,266.00
162
BOE Technology Group Co., Ltd. Interim Report 2022
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 goods 0.00 0.00 0.00
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:
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.
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 131,231,387.00 203,891,270.00
Education Surcharge 94,462,019.00 146,864,277.00
Resources tax 0.00 0.00
Property tax 284,268,154.00 292,983,778.00
Land use tax 24,478,318.00 28,491,208.00
Vehicle and vessel tax 0.00 0.00
Stamp duty 82,804,123.00 85,587,761.00
Others 10,590,517.00 36,086,062.00
Total 627,834,518.00 793,904,356.00
Other notes: N/A
49. Selling Expense
Unit: RMB
Item Reporting Period Same period of last year
Warranty provisions 956,829,173.00 1,415,523,949.00
Staff cost 578,952,537.00 592,486,021.00
163
BOE Technology Group Co., Ltd. Interim Report 2022
Share payments 46,359,186.00 36,313,013.00
Others 280,338,572.00 251,224,714.00
Total 1,862,479,468.00 2,295,547,697.00
Other notes:
N/A
50. Administrative Expense
Unit: RMB
Item Reporting Period Same period of last year
Staff cost 1,599,827,857.00 2,140,478,405.00
Depreciation and amortization 413,687,986.00 433,446,892.00
Share payments 110,814,289.00 86,503,091.00
Others 824,269,097.00 585,184,024.00
Total 2,948,599,229.00 3,245,612,412.00
Other notes:
N/A
51. Development Costs
Unit: RMB
Item Reporting Period Same period of last year
Staff cost 2,400,991,826.00 2,329,473,723.00
Material expenses 920,452,382.00 858,112,914.00
Depreciation and amortization 1,003,150,020.00 916,105,490.00
Equity incentives 124,763,007.00 131,420,331.00
Others 912,647,583.00 697,187,900.00
Total 5,362,004,818.00 4,932,300,358.00
Other notes:
N/A
52. Finance Costs
Unit: RMB
Item Reporting Period Same period of last year
Interest expense 1,503,427,051.00 2,438,979,548.00
Interest income -651,030,668.00 -443,748,698.00
Net loss on exchange -244,097,140.00 -295,822,911.00
Others 45,813,561.00 58,888,292.00
Total 654,112,804.00 1,758,296,231.00
Other notes:
N/A
53. Other Income
Unit: RMB
Sources Reporting Period Same period of last year
Government grants related to assets 439,754,949.00 171,893,815.00
Government grants related to income 2,518,837,330.00 952,619,529.00
Others 18,260,284.00 7,265,880.00
164
BOE Technology Group Co., Ltd. Interim Report 2022
Total 2,976,852,563.00 1,131,779,224.00
54. Investment Income
Unit: RMB
Item Reporting Period Same period of last year
Income from long-term equity investments accounted for using equity
586,980,332.00 620,013.00
method
Investment income from disposal of long-term equity investments 0.00 -1,490,516.00
Investment income arising from holding of trading financial assets 0.00 0.00
Investment income from disposal of financial assets held for trading 44,551,952.00 8,343,154.00
Dividend income received from holding of other equity instrument
14,635,391.00 16,450,665.00
investment
Gain from remeasurement of remaining equity interests to fair value
0.00 0.00
upon the loss of control
Interest income of investment in debt obligations during holding
0.00 2,013,425.00
period
Interest income of investment in other debt obligations during holding
0.00 0.00
period
Investment income from disposal of investment in other debt
0.00 0.00
obligations
Gains from debt restructuring 0.00 0.00
Total 646,167,675.00 25,936,741.00
Other notes: N/A
55. Gains from Changes in Fair Value
Unit: RMB
Sources Reporting Period Same period of last year
Financial assets held for trading 77,771,038.00 37,887,125.00
Of which: Gains from changes in 0.00
fair value of derivative financial 0.00
instruments
Trading financial liabilities 0.00 0.00
Investment property measured by fair 0.00
0.00
value
Total 77,771,038.00 37,887,125.00
Other notes: N/A
56. Credit Impairment Loss
Unit: RMB
Item Reporting Period Same period of last year
Bad debt loss of other receivables -28,243.00 -45,495.00
Impairment loss of investment in debt
0.00 0.00
obligations
Impairment loss of investment in other
0.00 0.00
debt obligations
Bad debt loss of long-term receivables 0.00 0.00
Bad debt loss of accounts receivables -19,967,284.00 -33,823,114.00
Total -19,995,527.00 -33,868,609.00
Other notes:
N/A
165
BOE Technology Group Co., Ltd. Interim Report 2022
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
-4,520,260,362.00 -1,706,491,865.00
cost
III. Impairment losses on long-term equity investment -8,199,181.00 0.00
IV. Impairment losses on investment property 0.00 0.00
V. Fixed assets impairment losses 0.00 -517,917,416.00
VI. Impairment losses on engineering materials 0.00 0.00
VII. Impairment losses on construction in progress 0.00 -83,037,514.00
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 -4,528,459,543.00 -2,307,446,795.00
Other notes:
N/A
58. Asset Disposal Income
Unit: RMB
Sources Reporting Period Same period of last year
Gains from fixed asset disposals 3,601,605.00 152,606,846.00
Total 3,601,605.00 152,606,846.00
59. Non-operating Income
Unit: RMB
Amount recorded in the
Item Reporting Period Same period of last year current non-recurring profit or
loss
Income from non-monetary
0.00 0.00 0.00
assets exchange
Donations accepted 2,000.00 0.00 2,000.00
Government grants 1,761,349.00 1,237,320.00 1,761,349.00
Others 97,822,833.00 46,878,482.00 97,822,833.00
Total 99,586,182.00 48,115,802.00 99,586,182.00
Government grants recorded into current profit or loss:
Unit: RMB
Whether
subsidies
Special Related to
Distribution Distribution influence Reporting Same period of
Item Nature subsidy or assets/related
entity reason the current Period last year
not to income
profit or
loss
Municipal Due to engage in
People’s special industry
Policy
Government that the state Related to
incentives Subsidy No No 1,761,349.00 1,237,320.00
, National encouraged and income
and others
Developme supported, gained
nt and subsidy (obtaining
166
BOE Technology Group Co., Ltd. Interim Report 2022
Reform in line with the
Commission law and the
, Bureau of regulations of
Finance, etc. national policy)
Other notes:
N/A
60. Non-operating Expense
Unit: RMB
Amount recorded in the
Item Reporting Period Same period of last year current non-recurring profit or
loss
Non-monetary asset exchange
0.00 0.00 0.00
losses
Donations provided 1,808,206.00 1,605,298.00 1,808,206.00
Others 15,617,290.00 19,942,843.00 15,617,290.00
Total 17,425,496.00 21,548,141.00 17,425,496.00
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 1,657,492,994.00 1,984,034,420.00
Deferred income tax expense 23,831,250.00 276,390,618.00
Total 1,681,324,244.00 2,260,425,038.00
(2) Adjustment Process of Accounting Profit and Income Tax Expense
Unit: RMB
Item Reporting Period
Profit before taxation 4,894,241,167.00
Current income tax expense accounted at statutory/applicable tax rate 734,136,175.00
Influence of applying different tax rates by subsidiaries 62,335,517.00
Influence of income tax before adjustment 0.00
Influence of non-taxable income -1,608,955.00
Effect of non-deductible costs, expense and losses 1,606,517.00
Influence of deductible loss of unrecognized deferred income tax assets in prior
-346,716,100.00
period
Influence of deductible temporary difference or deductible loss of unrecognized
1,186,744,986.00
deferred income tax assets in the Reporting Period
Others 44,826,104.00
Income tax expenses 1,681,324,244.00
Other notes:
N/A
62. Other Comprehensive Income
Refer to Notes 44 for details.
167
BOE Technology Group Co., Ltd. Interim Report 2022
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 4,610,789,391.00 3,304,516,231.00
Restricted deposits and others 973,645,438.00 353,503,906.00
Total 5,584,434,829.00 3,658,020,137.00
Notes: None
N/A
(2) Cash Used in Other Operating Activities
Unit: RMB
Item Reporting Period Same period of last year
Daily expenditure paid 2,141,762,138.00 2,071,733,547.00
Daily operation margins, deposits, and
438,014,471.00 289,513,172.00
others paid
Total 2,579,776,609.00 2,361,246,719.00
Notes: None
N/A
(3) Cash Generated from Other Investing Activities
Unit: RMB
Item Reporting Period Same period of last year
Interest income from investment
604,391,438.00 569,135,155.00
activities
Investment-based margins and others
22,694,954.00 11,558,575.00
received
Total 627,086,392.00 580,693,730.00
Notes: None
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
658,308,951.00 286,150,106.00
institutions
Investment-based margins and others
422,030,612.00 41,492,057.00
returned
Total 1,080,339,563.00 327,642,163.00
Notes: None
168
BOE Technology Group Co., Ltd. Interim Report 2022
N/A
(5) Cash Generated from Other Financing Activities
Unit: RMB
Item Reporting Period Same period of last year
Recovery of restricted deposits in
0.00 1,007,134,885.00
financial institutions
Dividends of A and B shares returned
5,212,625.00 43,781,204.00
and others
Total 5,212,625.00 1,050,916,089.00
Notes: None
N/A
(6) Cash Used in Other Financing Activities
Unit: RMB
Item Reporting Period Same period of last year
Repurchase of shares 274,740,201.00 6,489,085,322.00
Leasing-related principals and interests
658,251,005.00 935,347,581.00
and others
Total 932,991,206.00 7,424,432,903.00
Notes: None
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 3,212,916,923.00 16,944,987,545.00
Add: Provision for impairment of assets 4,548,455,070.00 2,341,315,404.00
Depreciation of fixed assets, oil-gas assets, and productive
16,649,076,929.00 16,104,794,927.00
living assets
Depreciation of right-to-use assets 74,631,909.00 164,503,238.00
Amortization of intangible assets 480,460,970.00 528,499,995.00
Amortization of long-term deferred expenses 79,302,831.00 66,159,277.00
Losses on disposal of fixed assets, intangible assets and
-3,601,605.00 -152,137,294.00
other long-lived assets (gains: negative)
Losses on scrap of fixed assets (gains: negative) 5,081,737.00 3,074,286.00
Losses from variation of fair value (gains: negative) -77,771,038.00 -37,887,125.00
Finance costs (gains: negative) 1,687,897,812.00 1,886,733,641.00
Investment loss (gains: negative) -646,167,675.00 -25,936,741.00
Decrease in deferred income tax assets (gains: negative) 3,698,440.00 134,940,635.00
Increase in deferred income tax liabilities (“-” means
20,929,956.00 139,078,578.00
decrease)
169
BOE Technology Group Co., Ltd. Interim Report 2022
Decrease in inventory (gains: negative) -9,786,577,845.00 -6,965,171,404.00
Decrease in accounts receivable generated from operating
10,599,972,473.00 -13,418,180,813.00
activities (gains: negative)
Increase in accounts payable used in operating activities
1,146,723,792.00 13,229,155,339.00
(decrease: negative)
Others 116,969,986.00 1,843,713,379.00
Net cash inflow from operating activities 28,112,000,665.00 32,787,642,867.00
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 79,805,078,702.00 66,341,627,103.00
Less: Beginning balance of cash 76,623,486,083.00 68,064,736,371.00
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 3,181,592,619.00 -1,723,109,268.00
(2) Net Cash Paid For Acquisition of Subsidiaries
Unit: RMB
Item Amount
Cash or cash equivalents paid in the Reporting Period for business
0.00
combination occurring in the Reporting Period
Of which:
Less: Cash and cash equivalents held by subsidiaries on the date of
0.00
purchase date
Of which:
Add: Cash or cash equivalents paid in the Reporting Period for
0.00
business combination occurring in the prior period
Of which:
Net payments for acquisition of subsidiaries 0.00
Other notes:
N/A
(3) Net Cash Receive from Disposal of the Subsidiaries
Unit: RMB
Item Amount
Cash or cash equivalents received in the Reporting Period from
0.00
disposal of subsidiaries in the Current Period
Of which:
Less: Cash and cash equivalents held by subsidiaries on the
0.00
date of losing control power
Of which:
Add: Cash or cash equivalents received in the Reporting Period
0.00
from disposal of subsidiaries in the prior period
Of which:
170
BOE Technology Group Co., Ltd. Interim Report 2022
Net cash received from disposal of subsidiaries 0.00
Other notes:
N/A
(4) Cash and Cash Equivalent
Unit: RMB
Item Ending balance Beginning balance
I. Cash 79,805,078,702.00 76,623,486,083.00
Including: Cash on hand 415,779.00 451,975.00
Bank deposits available on demand 79,753,075,861.00 76,549,790,015.00
Other monetary funds available on demand 51,587,062.00 73,244,093.00
Accounts deposited in the central bank available
0.00 0.00
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 three months 0.00 0.00
III. Ending balance of cash and cash equivalents 79,805,078,702.00 76,623,486,083.00
Of which: Cash and cash equivalents with restriction in
use for the Company as the parent or subsidiaries of the 0.00 0.00
Group
Other notes:
N/A
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 4,740,547,715.00 Mainly margin deposit
Endorsed and transferred with right of
Bills receivable 110,215,838.00 recourse, and put in pledge for the
issuance of notes payable
Inventories 0.00 N/A
Fixed assets 151,628,122,893.00 Mortgaged as collateral
Intangible assets 1,477,181,999.00 Mortgaged as collateral
Construction in progress 453,776,871.00 Mortgaged as collateral
Investment properties 40,313,449.00 Mortgaged as collateral
Total 158,450,158,765.00
Other notes: N/A
171
BOE Technology Group Co., Ltd. Interim Report 2022
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 2,778,127,228.00 6.7114 18,645,123,076.00
EUR 133,140,400.00 7.0084 933,101,182.00
HKD 66,304,393.00 0.8552 56,702,854.00
Accounts receivable
Including: USD 2,316,065,127.00 6.7114 15,544,039,494.00
EUR 106,765,852.00 7.0084 748,257,795.00
HKD 0.00 0.8552 0.00
Long-term loans
Including: USD 4,246,186,285.00 6.7114 28,497,854,633.00
EUR 31,168,278.00 7.0084 218,439,760.00
HKD 0.00 0.8552 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
68. Government Grants
(1) Basic Information on Government Grants
Unit: RMB
Amount recorded in the
Category Amount Listed items
current profit or loss
Government grants related to assets with Other income/fixed
985,262,643.00 985,262,643.00
influence on the current profit or loss assets/intangible assets
Government grants related to income with Other income/non-operating
3,564,839,705.00 3,564,839,705.00
influence on the current profit or loss income/finance costs
Total 4,550,102,348.00 —— 4,550,102,348.00
(2) Return of Government Grants
□Applicable Not applicable
Other notes:
N/A
69. Other
N/A
172
BOE Technology Group Co., Ltd. Interim Report 2022
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
Name of Date of Cost of Proportion Method of determinin revenue net profit
Acquisition
the equity equity of equities equity g the from the from the
date
acquiree 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 0.00
--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
Others 0.00
Total acquisition cost 0.00
Less: Share of the fair value of the identifiable net assets acquired 0.00
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
Item
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
173
BOE Technology Group Co., Ltd. Interim Report 2022
Liabilities: 0.00 0.00
Loans 0.00 0.00
Payables 0.00 0.00
Deferred tax liabilities 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
□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 revenue profit from
Proportion
the from the the The The
of equity
judgment Basis for beginning beginning combined combined
Name of interests
about the determinin of the of the party's party's net
the acquired in Combinatio
business g the current current revenue profit
combined the n date
combinatio combinatio period, in period, in during the during the
party business
n under n date which the which the comparison comparison
combinatio
common combinatio combinatio period period
n
control n occurred, n occurred,
to the to the
combinatio combinatio
n date n date
N/A
Other notes:
N/A
174
BOE Technology Group Co., Ltd. Interim Report 2022
(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
--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
Item
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
Liabilities: 0.00 0.00
Loans 0.00 0.00
Payables 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
175
BOE Technology Group Co., Ltd. Interim Report 2022
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 Environmental Energy Technology Co., Ltd., with 100% shareholding.
6. Other
N/A
176
BOE Technology Group Co., Ltd. Interim Report 2022
IX. Equity in Other Entities
1. Interests in Subsidiaries
(1) Subsidiaries
Principal place Shareholding percentage
Name of the Subsidiary Registered place Business nature Acquisition method
of business Direct Indirect
Beijing BOE Optoelectronics Research and development (“R&D”), design
Beijing, China Beijing, China 0.00% 100% Founded by investment
Technology Co., Ltd. and manufacturing of TFT-LCD
Chengdu BOE Optoelectronics R&D, design, production and sales of new Business combinations
Technology Co., Ltd. (“Chengdu Chengdu, China Chengdu, China display devices and modules and other 100.00% 0.00% involving entities not
Optoelectronics”) electronic components. under common control
Investment, construction, R&D, production and Business combinations
Hefei BOE Optoelectronics
Hefei, China Hefei, China sales of the relevant products of thin film 100.00% 0.00% involving entities not
Technology Co., Ltd.
transistor LCD and its auxiliary products. under common control
Beijing BOE Display Technology Development of TFT-LCD, manufacturing and
Beijing, China Beijing, China 97.17% 2.83% Founded by investment
Co., Ltd. (“Beijing BOE Display”) sale of LCD
Investment, construction, R&D, production and Business combinations
Hefei Xinsheng Optoelectronics
Hefei, China Hefei, China sales of the relevant products of thin film 99.97% 0.03% involving entities not
Technology Co., Ltd.
transistor LCD and its auxiliary products. under common control
Erdos Yuansheng Optoelectronics
Manufacture and sales of AM-OLED products
Co., Ltd. (“Yuansheng Erdos, China Erdos, China 100.00% 0.00% Founded by investment
and auxiliary products.
Optoelectronics”)
R&D, production and sales of semi-conducting
Chongqing BOE Optoelectronics Business combinations
Chongqing, Chongqing, display devices, complete machine and related
Technology Co., Ltd. (“Chongqing 100.00% 0.00% involving entities not
China China products; import & export of goods and
BOE”) under common control
technology consulting.
Fuzhou BOE Optoelectronics Investment, construction, R&D, production and Business combinations
Technology Co., Ltd. (“Fuzhou Fuzhou, China Fuzhou, China sales of the relevant products of thin film 83.24% 0.00% involving entities not
BOE”) transistor LCD and its auxiliary products. under common control
Manufacture of LCD TV, LCD; technology
Beijing BOE Video Technology Co.,
Beijing, China Beijing, China development of terminal products and systems 100.00% 0.00% Founded by investment
Ltd. (“BOE Video”)
such as TFT-LCD display and TV
Beijing BOE Vacuum Electronics Manufacture and sale of vacuum electronic
Beijing, China Beijing, China 57.89% 0.00% Founded by investment
Co., Ltd. products
Beijing BOE Vacuum Technology
Beijing, China Beijing, China Manufacture and sale of electronic tubes. 100.00% 0.00% Founded by investment
Co., Ltd.
Management of engineering projects; real estate
Beijing Yinghe Century Co., Ltd. Beijing, China Beijing, China development; public parking lot for motor 100.00% 0.00% Founded by investment
vehicles service; office lease.
177
BOE Technology Group Co., Ltd. Interim Report 2022
BOE Optical Science and Technology
R&D, production and sales of LCD, back light
Co., Ltd. (“Optical Science and Suzhou, China Suzhou, China 95.17% 0.00% Founded by investment
for display and related components.
Technology”)
BOE Hyundai LCD (Beijing) Display Development, manufacture and sale of liquid
Beijing, China Beijing, China 75.00% 0.00% Founded by investment
Technology Co., Ltd. display for mobile termination.
BOE (Hebei) Mobile Technology Co., Langfang, Langfang, Manufacture and sale of mobile flat screen
100.00% 0.00% Founded by investment
Ltd. (“BOE Hebei”) China China display technical products and related services.
Technology development, technology transfer,
technology consulting and technology services;
sales of computer software, hardware and
auxiliary equipment, digital video and audio
technology products, electronic digital
products, video telephone, mobile phones and
spare parts, hardware (excluding electric
bicycle), household appliances, photographic
equipment, sporting goods, Class I medical
devices, lamps, stationery, cosmetics, bathroom
appliances, knitwear and textile, clothing, daily
necessities, timepieces, glasses, toys and food;
Beijing BOE Multimedia Technology equipment maintenance; import and export of
Beijing, China Beijing, China 100.00% 0.00% Founded by investment
Co. Ltd. (“BOE Multimedia”) goods; basic software services; application
software service; machinery and equipment
leases; design, production, agency and
publication of advertisements. (Market
participants independently select the business
activities and carry out the business activities in
accordance with laws and regulations; sales of
food and business activities subject to approval
in accordance with laws and regulations,
operations may be conducted only with the
approval of relevant government authorities;
business activities prohibited and restricted by
the industrial policies of the state and the city.
Design, consultancy and service of solar cell,
Beijing BOE Energy Technology Co., photovoltaic system, wind power system and
Beijing, China Beijing, China 80.11% 0.00% Founded by investment
Ltd. (“BOE Energy”) solar thermal system as well as the assembly
units; energy-saving service.
Beijing BOE Life Technology Co., Technology promotion services, property
Beijing, China Beijing, China 100.00% 0.00% Founded by investment
Ltd. (“BOE Life Technology”) management, sales of electronic products
Beijing Zhongxiangying Technology Technology promotion services, property
Beijing, China Beijing, China 100.00% 0.00% Founded by investment
Co., Ltd. (“Zhongxiangying”) management, sales of electronic products
178
BOE Technology Group Co., Ltd. Interim Report 2022
Ordos City Haosheng Energy
Ordos, China Ordos, China Energy investment 0.00% 100.00% Founded by investment
Investment Co., Ltd.
Processing, manufacturing and sales of
precision electronic components, semi-
BOE Semi-conductor Co., Ltd. Beijing, China Beijing, China conductor devices, micro modules, 84.00% 0.00% Founded by investment
microelectronic devices and electronic
materials; import & export of goods
BOE Optoelectronics Holding Co., British Virgin
Hong Kong Investment holding 100.00% 0.00% Founded by investment
Ltd ("Optoelectronics Holding") Islands
BOE (Korea) Co.,Ltd. Korea Korea Wholesale and retail trade 100.00% 0.00% Founded by investment
Business combinations
BOE Health Investment Management Investment management and project
Beijing, China Beijing, China 100.00% 0.00% involving entities not
Co., Ltd. (“Health Investment”) investment.
under common control
Colour TV set, display tube, colour RPTV
Business combinations
Beijing Matsushita Color CRT Co., projection tube and materials of electronic
Beijing, China Beijing, China 88.80% 0.00% involving entities not
Ltd. (“Matsushita Color CRT”) components; property management and parking
under common control
services, etc.
Business combinations
Hefei BOE Display Technology Co., Investment, R & D and production of products
Hefei, China Hefei, China 8.33% 0.00% involving entities not
Ltd. (“Hefei Technology”) related to TFT-LCD and the supporting facility
under common control
Beijing BOE Technology
Development, transfer, consulting and service
Development Co., Ltd. (“Technology Beijing, China Beijing, China 100.00% 0.00% Founded by investment
of technology
Development”)
Investment, construction, R&D, production and
Hefei BOE Zhuoyin Technology Co.,
Hefei, China Hefei, China sales of products related to OLED display 75.00% 0.00% Founded by investment
Ltd. (“Zhuoyin Technology”)
device and auxiliary products.
Development, construction, property
management and supporting service of
industrial plants and supporting facilities;
Beijing BOE Land Co., Ltd. Beijing, China Beijing, China information consulting of real estate; lease of 70.00% 0.00% Founded by investment
commercial 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 maintenance;
development, transfer, consulting and service
Beijing BOE Marketing Co., Ltd. Beijing, China Beijing, China 100.00% 0.00% Founded by investment
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
Yunnan Chuangshijie Optoelectronic
service providing of display technology; service
Technology Co., Ltd. ("Yunnan Kunming, China Kunming, China 79.10% 0.00% Founded by investment
providing of computer software/hardware and
BOE")
network systems; construction, operation and
179
BOE Technology Group Co., Ltd. Interim Report 2022
management of e-commerce platforms;
providing 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
Wuhan BOE Optoelectronics sales, technology development, transfer, Business combinations
Technology Co., Ltd. (“Wuhan Wuhan, China Wuhan, China consulting, and service of the relevant products 47.14% 0.00% involving entities not
BOE”) of thin film transistor LCD and its auxiliary under common control
products
Mianyang BOE Optoelectronics Production of display panel for high-end smart Business combinations
Mianyang, Mianyang,
Technology Co., Ltd. (“Mianyang phones, folding laptops etc. and R&D, 83.46% 0.00% involving entities not
China China
BOE”) production and sales of modules. under common control
R&D, manufacture and sales of semiconductor
Chongqing BOE Display Technology Business combinations
Chongqing, Chongqing, display devices, whole widget and relevant
Co., Ltd. (“Chongqing BOE 38.46% 0.00% involving entities not
China China products, import and export of goods and
Display”) under common control
technical consulting
Development, testing, consulting, service and
transfer of technologies in X-ray sensors, micro
fluidic chips, biochemical chips, gene chips,
Beijing BOE Sensing Technology
Beijing, China Beijing, China security sensors, microwave antenna, biological 100.00% 0.00% Founded by investment
Co., Ltd.
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 electronic components, and technology Business combinations
Fuzhou BOE Display Technology
Fuzhou, China Fuzhou, China development, technology transfer, technical 43.46% 0.00% involving entities not
Co., Ltd.
consulting, related fields related to display under common control
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 0.00% 60.20% involving entities not
France France
downstream software around electronic shelf under common control
labels Platform, image recognition and big data
analytics resources to create a complete
solution for the retail industry.
180
BOE Technology Group Co., Ltd. Interim Report 2022
Investment, R&D, manufacturing and sales of
direct display, sensors related to the display,
back light source for LCD and supporting
Hefei BOE Xingyu Technology Co.,
Hefei, China Hefei, China components; enterprise management consulting 63.77% 0.00% Founded by investment
Ltd.
and service; house rental; equipment rental;
technology development, transfer and
consulting services.
Technology development, software
development, sales of stationery supplies,
sports supplies and home appliances; business
management, economic and trade consultancy,
BOE Education Technology Co., Ltd. Beijing, China Beijing, China education consultancy, public relations 100.00% 0.00% Founded by investment
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
Oriental Chengqi (Beijing) Business consulting; ticketing agents, tourism consulting,
Beijing, China Beijing, China 100.00% 0.00% Founded by investment
Technology Co., Ltd. warehousing services, public relations services,
car rental; import and export of goods,
technology import and export; beauty services,
medical services; inbound tourism business;
Internet information services.
Project investment; investment management.
("1. The company shall not raise funds in any
public manner; 2. It shall not conduct securities
products and financial derivative transactions in
any public manner; 3. It shall not issue loans; 4.
It shall not provide guarantees for enterprises
other those it invests in; 5. It shall not promise
any principal guarantee or minimum return to
BOE Innovation Investment Co., Ltd. Beijing, China Beijing, China investors; (Market participants independently 100.00% 0.00% Founded by investment
select the business activities and carry out the
business activities in accordance with laws and
regulations; sales of food and business
activities subject to approval in accordance
with laws and regulations, operations may be
conducted only with the approval of relevant
government authorities; business activities
prohibited and restricted by the industrial
181
BOE Technology Group Co., Ltd. Interim Report 2022
policies of the state and the city.))
Provision of hardware and software integrated
system solutions for the IoT market segment;
BOE Smart Technology Co., Ltd. Beijing, China Beijing, China smart city, smart transport, smart finance, smart 100.00% 0.00% Founded by investment
parks and the display terminal products such as
the smart all-in-one machines
R&D, manufacturing and sales of TFT-LCD
panels, color filters and whole liquid crystal
modules; provision of products and business-
related services, as well as other business
activities associated with the foregoing;
Nanjing BOE Display Technology Business combinations
proprietary and agency import and export of
Co., Ltd. (Formerly Nanjing CEC Nanjing, China Nanjing, China 80.83% 0.00% involving entities not
various goods and technologies (excluding
Panda FPD Technology Co., Ltd.) under common control
goods and technologies restricted by state or
import & export prohibited). (For items that
require approval by law, the 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 technical services; foreign trade in form of
Chengdu, China Chengdu, China 35.03% 0.00% involving entities not
Technology Co., Ltd. import and export of goods and technology.
under common control
(For items that require approval by law, 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
BOE Jingxin Technology Co., Ltd. Beijing, China Beijing, China 100.00% 0.00% Founded by investment
1.4); information processing and storage support
services; general 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,
182
BOE Technology Group Co., Ltd. Interim Report 2022
software and auxiliary equipment, as well as
electronic products.
Energy-saving technology, new energy
technology for environmental protection,
environmental protection equipment, solar
power generation, technology development,
technology consulting, technology transfer,
technology promotion, technology services, and
technology testing for building integrated
photovoltaics and green building, electric
power, and power station operation and
maintenance; software development; internet
data services (data centres in Internet data
services, excluding cloud computing data
centres with a PUE over 1.4); information
processing and storage support services (data
centres in information processing and storage
support services, excluding cloud computing
data centres with a PUE over 1.4); energy
management contracting; water contamination
BOE Environmental Energy
Beijing, China Beijing, China governance; atmospheric pollution governance; 100.00% 0.00% Founded by investment
Technology Co., Ltd.
solid wastes governance; soil pollution control
and remediation services; environmental
protection monitoring; installation,
maintenance and lease of equipment;
professional design services; property
management; sales of special equipment for
environmental protection, illuminating
equipment, electronic products, machinery and
equipment, electrical equipment, instruments,
hardware products, computers, software and
ancillary equipment, and chemical products
(excluding licensed chemical products); import
and export of goods; import and export of
technologies; agency of import & export;
power service; construction engineering design;
electrical installation services; miscellaneous
engineering construction activities; general
contracting of housing construction and
183
BOE Technology Group Co., Ltd. Interim Report 2022
municipal infrastructure project engineering;
construction labour subcontracting.
Explanations that the shareholding percentage is different from the voting right percentage in subsidiaries:
(1) BOE signed the Agreement of Acting in Concert with Hefei Core Screen Industrial Investment Fund (Limited Partnership) and Hefei Xingrong Investment Co., Ltd. Based on the agreement,
Hefei Core Screen Industrial Investment Fund (Limited Partnership) and Hefei Xingrong Investment Co., Ltd. agreed to act as the persons acting in concert according to the wishes of the Company,
and exercised the voting rights unconditionally and irrevocably in accordance with the opinions of the Company. Therefore, BOE owns 100% of the voting right ratio to Hefei BOE Display and
includes it in the consolidation scope.
(2) BOE signed the Agreement of Acting in Concert with Wuhan Airport Economic Development Zone Industrial Development Investment Group Co., Ltd. and Hubei Changbai Industrial
Investment Fund Partnership (Limited Partnership). Based on the agreement, Wuhan Airport Economic Development Zone Industrial Development Investment Group Co., Ltd. and Hubei Changbai
Industrial Investment Fund Partnership (Limited Partnership) agreed to act as the persons acting in concert according to the wishes of the Company, and exercised the voting rights unconditionally
and irrevocably in accordance with the opinions of the Company. Therefore, BOE owns 100% of the voting right ratio to Wuhan BOE Optoelectronics Technology and includes it in the
consolidation scope.
(3) BOE signed the Agreement of Acting in Concert with Chongqing Strategic Emerging Industry Equity Investment Fund Partnership (Limited Partnership) and Chongqing Yuzi Optoelectronic
Industry Investment Co., Ltd., Chongqing Jianxin Junheng Private Equity Fund Partnership (Limited Partnership), and Chongqing Jingping Equity Investment Fund Partnership (Limited
Partnership). Based on the agreement, Chongqing Strategic Emerging Industry Equity Investment Fund Partnership (Limited Partnership) and Chongqing Yuzi Optoelectronic Industry Investment
Co., Ltd., Chongqing Jianxin Junheng Private Equity Fund Partnership (Limited Partnership), and Chongqing Jingping Equity Investment Fund Partnership (Limited Partnership) agreed to act as
the persons acting in concert according to the wishes of the Company, and exercised the voting rights unconditionally and irrevocably in accordance with the opinions of the Company. Therefore,
BOE owns 100% of the voting right ratio to Chongqing BOE Display Technology and includes it in the consolidation scope.
(4) BOE signed the Agreement of Acting in Concert with Fuqing City Invested-Construction Investment Group Co., Ltd. and Fuzhou Urban Construction Investment Group Co., Ltd. Based on the
agreement, Fuqing City Invested-Construction Investment Group Co., Ltd. and Fuzhou Urban Construction Investment Group Co., Ltd. agreed to act as the persons acting in concert according to
the wishes of the Company, and exercised the voting rights unconditionally and irrevocably in accordance with the opinions of the Company. Therefore, BOE owns 100% of the voting right ratio
to Fuzhou BOE Display Technology Co., Ltd. and includes it in the consolidation scope.
(5) BOE signed an agreement of acting in concert with Chengdu Advanced Manufacturing Industry Investment Co., Ltd., Chengdu Airport Xingcheng Investment Group Co., Ltd., Chengdu
Xihanggang Industrial Development Investment Co., Ltd., Nanjing Panda Information Industry Group Co., Ltd., and China Electronics Corporation, aiming to control Chengdu CEC Panda Display
Technology Co., Ltd. by acting in concert. Chengdu Advanced Manufacturing Industry Investment Co., Ltd., Chengdu Airport Xingcheng Investment Group Co., Ltd., Chengdu Xihanggang
Industrial Development Investment Co., Ltd., Nanjing Panda Information Industry Group Co., Ltd., and China Electronics Corporation agreed to act as the persons acting in concert according to
the wishes of the Company on exercising their shareholders' rights at the Board of Directors and voting rights on recommended directors in Chengdu CEC Panda Display Technology Co., Ltd.,
on the premise of not harming their interests. Therefore, BOE owns 96.75% of the voting right ratio to Chengdu CEC Panda Display Technology Co., Ltd. and includes it in the consolidation
scope.
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
184
BOE Technology Group Co., Ltd. Interim Report 2022
Basis for the determining the Company as the agent or the trustor:
N/A
Other notes:
N/A
185
BOE Technology Group Co., Ltd. Interim Report 2022
(2) Significant Not Wholly-owned Subsidiary
Unit: RMB
Shareholding proportion of The profit or loss attributable Declaring dividends distributed to Ending balance of non-
Name of the Subsidiary
non-controlling interests to non-controlling interests non-controlling interests controlling interests
Hefei BOE Display Technology Co., Ltd. 91.67% -1,039,789,016.00 0.00 21,391,024,075.00
Mianyang BOE Optoelectronics Technology Co.,
16.54% -263,619,017.00 0.00 3,672,714,980.00
Ltd.
Wuhan BOE Optoelectronics Technology Co., Ltd. 52.86% -654,648,293.00 0.00 14,491,042,564.00
Notes that the shareholding percentage is different from the voting right percentage of non-controlling shareholders in subsidiaries:
N/A
Other notes:
N/A
(3) The Main Financial Information of Significant Not Wholly-owned Subsidiary
Unit: RMB
Name of Ending balance Beginning balance
the Non- Non- Non- Non-
Subsidiar Current Current Total Current Current Total
current Total assets current current Total assets current
y assets liabilities liabilities assets liabilities liabilities
assets liabilities assets liabilities
Hefei
BOE
Display 15,291,826, 22,092,758, 37,384,584, 6,620,745, 7,429,025,8 14,049,770, 15,797,281, 24,332,972, 40,130,254, 7,432,659, 8,237,784,0 15,670,443,
Technolo 342.00 648.00 990.00 068.00 33.00 901.00 551.00 509.00 060.00 554.00 12.00 566.00
gy Co.,
Ltd.
Mianyang
BOE
Optoelect
11,608,383, 38,559,607, 50,167,991, 8,731,073, 19,231,869, 27,962,942, 9,246,943,0 43,427,820, 52,674,763, 7,343,085, 21,547,455, 28,890,540,
ronics
Technolo 193.00 867.00 060.00 644.00 168.00 812.00 07.00 893.00 900.00 123.00 635.00 758.00
gy Co.,
Ltd.
Wuhan
BOE 10,420,937, 40,208,548, 50,629,485, 8,537,925, 14,677,555, 23,215,481, 12,711,279, 37,827,474, 50,538,754, 7,311,202, 15,031,465, 22,342,668,
Optoelect 031.00 309.00 340.00 943.00 304.00 247.00 779.00 491.00 270.00 489.00 931.00 420.00
ronics
186
BOE Technology Group Co., Ltd. Interim Report 2022
Technolo
gy Co.,
Ltd.
Unit: RMB
Reporting Period Same period of last year
Name of the Total Cash flows from Total Cash flows from
Subsidiary Operating income Net profit comprehensive operating Operating income Net profit comprehensive operating
income activities income activities
Hefei BOE
Display
6,859,750,975.00 -1,134,274,044.00 -1,134,274,044.00 -87,608,184.00 10,056,857,841.00 2,117,875,480.00 2,117,875,480.00 3,427,977,081.00
Technology
Co., Ltd.
Mianyang BOE
Optoelectronics
5,554,777,261.00 -1,593,827,191.00 -1,593,827,191.00 4,096,026,311.00 7,139,702,888.00 -884,043,896.00 -884,043,896.00 983,913,609.00
Technology
Co., Ltd.
Wuhan BOE
Optoelectronics
7,746,898,476.00 -1,238,456,854.00 -1,238,456,854.00 427,041,611.00 6,959,030,521.00 1,509,628,810.00 1,509,628,810.00 1,578,297,899.00
Technology
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
187
BOE Technology Group Co., Ltd. Interim Report 2022
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 held 53.86% of shares in Hefei Xingyu before the change and 63.77% after.
The Company held 100.00% of shares in Energy Technology before the change and 80.11% after.
(2) The Effects of the Transaction on Non-controlling Interests and Equity Attributable to Owners of the Company as the
Parent
Unit: RMB
Hefei Xingyu Energy Technology
Purchase cost/disposal consideration 169,364,156.00 0.00
--Cash 169,364,156.00 0.00
--Fair value of non-cash assets 0.00 0.00
Total of purchase cost /disposal consideration 169,364,156.00 0.00
Less: Subsidiary net assets proportion calculated by share
167,813,830.00 196,029,055.00
proportion obtained/disposal
Difference 1,550,326.00 -196,029,055.00
Of which: Adjustment of capital reserves -1,550,326.00 196,029,055.00
Surplus reserves adjustments 0.00 0.00
Retained profits adjustments 0.00 0.00
Other notes:
N/A
3. Equity in Joint Ventures or Associated Enterprises
(1) Significant Joint Ventures or Associated Enterprises
Shareholding percentage Accounting
treatment
method for the
Principal place Registered
Name Business nature investment in
of business place Direct Indirect joint 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
Ending balance/Reporting Period
Item last year
N/A
188
BOE Technology Group Co., Ltd. Interim Report 2022
Other notes:
N/A
(3) The Main Financial Information of Significant Associated Enterprises
Unit: RMB
Beginning balance/The same period of
Ending balance/Reporting Period
Item last 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
Item Ending balance/Reporting Period
last year
Joint venture:
Total carrying value of investment 0.00 0.00
The total of following items according to
the 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 6,646,019,274.00 6,040,948,317.00
The total of following items according to
the shareholding proportions
--Net profit 586,980,332.00 620,013.00
--Other comprehensive income -10,213,701.00 -64,314,237.00
--Total comprehensive income 576,766,631.00 -63,694,224.00
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 accumulative
Name losses in previous the share of net profit) in unrecognized losses in
accumulatively derecognized Reporting Period Reporting Period
Hefei Xin Jing Yuan Electronic
-20,352,876.00 4,094,002.00 -16,258,874.00
Materials Co., Ltd.
Other notes:
As at 30 June 2022, 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
189
BOE Technology Group Co., Ltd. Interim Report 2022
carrying value of long-term equity investments is reduced to zero. And the accumulative unrecognized investment losses are
RMB16,258,874.
(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
4. 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 7 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.
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 38% and 0.001% (in 2021: 39% and 0.001%) 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 2022.
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.
190
BOE Technology Group Co., Ltd. Interim Report 2022
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 2022, 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 RMB672.93 million (2021: RMB549.53
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 USD2,002,631,924 (2021 net liabilities exposure:
USD177,293,137), translated into RMB13,440,463,895 (2021: RMB1,130,367,854), 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 RMB272,498,323 (2021: decrease/increase
RMB164,148,318).
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
I. Consistent fair value measurement -- -- -- --
----(I) Trading financial assets 0.00 0.00 17,317,207,971.00 17,317,207,971.00
1. Financial assets at fair value
0.00 0.00 17,317,207,971.00 17,317,207,971.00
through profit or loss
(1) Debt instruments investment 0.00 0.00 16,710,312,524.00 16,710,312,524.00
(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
0.00 0.00 0.00 0.00
changes be included in the 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
191
BOE Technology Group Co., Ltd. Interim Report 2022
(II) Investment in other debt
0.00 0.00 0.00 0.00
obligations
(III) Other equity instrument
163,570,151.00 0.00 386,657,929.00 550,228,080.00
investment
(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
0.00 0.00 0.00 0.00
to transfer 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
0.00 0.00 0.00 0.00
on a 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
0.00 0.00 0.00 0.00
liabilities
Others 0.00 0.00 0.00 0.00
(VII) Refer as financial liabilities
measured by fair value and the
0.00 0.00 0.00 0.00
changes included in the current
gains and losses
Total liabilities of consistent fair
0.00 0.00 0.00 0.00
value measurement
II. Inconsistent fair value
-- -- -- --
measurement
----(I) Assets held for sale 0.00 0.00 0.00 0.00
Total assets inconsistently measured
0.00 0.00 0.00 0.00
at fair value
Total liabilities inconsistently
0.00 0.00 0.00 0.00
measured at fair 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
192
BOE Technology Group Co., Ltd. Interim Report 2022
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
XII. Connected Party and Connected Transaction
1. Information on the Company as the Parent
Proportion of
Proportion of share
voting rights
held by the
owned by the
Company name Registered place Business nature Registered capital Company as the
Company as the
parent against the
parent against the
Company (%)
Company (%)
Operation and
No. 12,
management of
Beijing Electronics Jiuxianqiao Road, RMB3,139,210,00
state-owned assets 0.71% 17.45%
Holding Co., Ltd. Chaoyang District, 0.00
within
Beijing
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
193
BOE Technology Group Co., Ltd. Interim Report 2022
Beijing Nittan Electronic Co., Ltd. Associate of the Group and the Company
BOE Yiyun Technology Co., Ltd. Associate of the Group and the Company
TPV Display Technology (China) Limited Associate of the Group and the Company
Beijing Xindongneng Investment Management Co., Ltd. Associate of the Group and the Company
Shenzhen Yunyinggu Technology Co., Ltd. Associate of the Group and the Company
BioChain (Beijing) Science & Technology, Inc. Associate of the Group
Beijing BOE Microbial Technology Co., Ltd. Associate of the Group
Hefei Xinjingyuan Electronic Materials Co., Ltd. Associate of the Group
BOE Houji Technology (Beijing) Co., Ltd. Associate of the Group
Changzhou Xiruojia Medical Technology Co., Ltd. Subsidiary of associate of the Group
Beijing BioChain Medical Laboratory 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 Zhengdong Electronic Power 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 Electrical Control Jiuyi Industrial Development
Under the same control of the ultimate holding company
Company
Beijing Smart-aero Display Technology Co., Ltd. Under the same control of the ultimate holding company
Nortel New Energy Technology (Jiangsu) 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
NAURA Technology Group 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
Beijing C&W 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
761 Workshop (Beijing) Technology Development Co., Ltd. Under the same control of the ultimate holding company
Beijing Ripeness Sanyuan Instrumentation 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 Dongdian Industrial Development Co., Ltd. Under the same control of the ultimate holding company
Beijing BOE Investment Development 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 Zhaowei Electronics (Group) Co., Ltd. Under the same control of the ultimate holding company
Beijing C&W Self-service Equipment Technology Co. , Ltd. Under the same control of the ultimate holding company
Associate of enterprise that is under the same control of the
Xin Xiang Microelectronic (Hong Kong) Co., Ltd.
ultimate holding company
Associate of enterprise that is under the same control of the
Beijing Senju Electronic Materials Co., Ltd.
ultimate holding company
Beijing Yizhuang Environmental Technology Group Co., Ltd. Other
China Minsheng Banking Corporation Limited Other
Hefei Construction and Investment Holdings (Group) Co., Ltd. Other
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
194
BOE Technology Group Co., Ltd. Interim Report 2022
Unit: RMB
Whether
Nature of Reporting The approval Same period of
Name of related party exceed trade
transaction Period trade credit last year
credit or not
Beijing Electronics Holding Co., Purchase of
105,041,971.00 750,000,000.00 No 266,829,360.00
Ltd and its affiliated companies goods
Beijing Electronics Holding Co., Receiving of
3,257,510.00 20,000,000.00 No 1,522,372.00
Ltd and its affiliated companies services
Purchase of
Other related parties 39,589,302.00 450,000,000.00 No 129,714,767.00
goods
Receiving of
Other related parties 2,132.00 500,000.00 No 1,328,899.00
services
Information of sales of goods and provision of labor service
Unit: RMB
Same period of
Name of related party Nature of transaction Reporting Period
last year
Beijing Electronics Holding Co., Ltd and its affiliated
Sale of goods 434,437,945.00 5,234,597.00
companies
Beijing Electronics Holding Co., Ltd and its affiliated
Rendering of services 6,730,172.00 3,739,611.00
companies
Other related parties Sale of goods 60, 851,429.00 126,028,273.00
Other related parties Rendering of services 1,101,089.00 264,969.00
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
Income
Name of the Name of the
recognized in
entruster/contra entrustee/ Type Start date Due date Pricing basis
the Reporting
ctee contractor
Period
N/A
Notes to connected trusteeship/contract: N/A
Lists of entrust/contractee
Unit: RMB
Income
Name of the Name of the
recognized in
entruster/contra entrustee/ Type Start date Due date Pricing basis
the Reporting
ctee contractor
Period
N/A
Notes to entrust/contractee: N/A
195
BOE Technology Group Co., Ltd. Interim Report 2022
(3) Information on Connected Lease
The Company served as the lessor:
Unit: RMB
The lease income confirmed in the Reporting The lease income confirmed in the same
Name of lessee Type of assets leased
Period period of last year
Beijing Electronics Holding Co., Ltd and its
Investment properties 1,741,177.00 102,491.00
affiliated companies
Other related parties Investment properties 532,189.00 573,156.00
The Company served as the lessee:
Unit: RMB
Rental expenses of short-term Variable lease payments not
Income expense of lease
lease simplified treated and low- included in the measurement of Paid rent Increased right-of-use assets
Type of liabilities undertaken
value asset lease (if applicable) lease liabilities (if applicable)
Name of lessor assets
leased The same The same The same The same The same
Reporting Reporting Reporting Reporting Reporting
period of last period of last period of last period of last period of last
Period Period Period Period Period
year year year year year
Beijing
Electronics
Holding Co., Fixed
0.00 1,678.00 0.00 0.00 1,254,182.00 1,254,182.00 146,784.00 146,784.00 0.00 0.00
Ltd and its assets
affiliated
companies
Other related Fixed
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
parties assets
Notes to connected lease: N/A
(4) Connected Guarantee
The Company served as the guarantee
Unit: RMB
Secured party Amount Start date Due date Whether completely performed
N/A
196
BOE Technology Group Co., Ltd. Interim Report 2022
The Company served as the secured party
Unit: RMB
Guarantee Amount Start date Due date Whether completely performed
N/A
Notes to connected guarantee: N/A
197
BOE Technology Group Co., Ltd. Interim Report 2022
(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
70,157,777.00 69,055,577.00
personnel
(8) Other Connected Transactions
During the Reporting Period, the Company conducted the normal commercial deposit and loan business with China Minsheng Banking
Corporation Limited. Specifically, the interest income from bank deposits was RMB9,243,785.00 and interest expenses from loans
stood at RMB12,943,979.00.
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
165,183,994.00 2,513.00 39,312,053.00 2,300.00
receivable its affiliated companies
Contract Beijing Electronics Holding Co., Ltd and
122,743.00 0.00 122,743.00 0.00
assets its affiliated companies
Other Beijing Electronics Holding Co., Ltd and
1,471,308.00 0.00 1,712,918.00 0.00
receivables its affiliated companies
Beijing Electronics Holding Co., Ltd and
Prepayments 1,828,134.00 0.00 1,046,184.00 0.00
its affiliated companies
Accounts
Other related parties 65,379,708.00 4,881,906.00 49,642,856.00 4,881,231.00
receivable
Contract
Other related parties 513,430.00 0.00 0.00 0.00
assets
Other
Other related parties 345,269.00 0.00 188,859.00 0.00
receivables
Prepayments Other related parties 200,343.00 0.00 71,961.00 0.00
198
BOE Technology Group Co., Ltd. Interim Report 2022
(2) Accounts Payable
Unit: RMB
Item Name of related party Ending carrying balance Beginning carrying balance
Beijing Electronics Holding
Accounts payable Co., Ltd and its affiliated 43,813,357.00 62,722,051.00
companies
Beijing Electronics Holding
Other payables Co., Ltd and its affiliated 174,798,763.00 171,671,859.00
companies
Beijing Electronics Holding
Advance payments received Co., Ltd and its affiliated 38,431.00 803,401.00
companies
Beijing Electronics Holding
Contract liabilities Co., Ltd and its affiliated 8,775.00 8,033.00
companies
Accounts payable Other related parties 96,565,768.00 79,835,056.00
Other payables Other related parties 6,509,536.00 6,515,280.00
Advance payments received Other related parties 153,300.00 158,405.00
Contract liabilities Other related parties 337,784.00 3,709,467.00
7. Commitments of the Related Parties
As at the balance sheet date, the commitments of the related parties, which are signed but not listed in financial statement, are for the
procurement of equipment. The amount in the current period was RMB16,594,169.00, as compared with RMB182,785,156.00 in the
previous period.
8. Other
N/A
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
0.00
the 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:
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.
199
BOE Technology Group Co., Ltd. Interim Report 2022
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 implementation was completed on 22 October 2021. The actual number of grantees was 110, with a number
of grants of 33,000,000 shares.
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 (First grant: RMB1.68/share, RMB1.93/share and
RMB2.09/share, respectively; reserved grant: RMB1.70/share, RMB2.02/share and RMB2.17/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 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 grant date
and the subscription price in RMB (First: RMB1.68/share,
RMB1.93/share and RMB2.09/share, respectively; Second:
Method for determining the fair value of equity instruments at
RMB1.70/share, RMB2.02/share and RMB2.17/share,
the grant date
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.
Basis of determining the number of equity instruments At each balance sheet date during the vesting period, the best
200
BOE Technology Group Co., Ltd. Interim Report 2022
expected to vest estimation is made according to the latest information, such as
the number of employees who are granted options and the
completion of performance indicators, and the number of
equity 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
N/A
the previous estimate
Payment of the cumulative amount included in capital reserves
920,416,425.00
with equity-settled shares
Total costs recognized by equity-settled share-based payment in
326,069,814.00
the Reporting Period
Other notes:
N/A
3. Cash-settled Share-based Payments
□Applicable Not applicable
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
Unit: RMB
The Group 30 June 2022 31 December 2021
Outward investment contract signed but not performed or not
32,128,069,883.00 36,353,906,810.00
performed fully
Outward investment contract authorized but contract not
89,076,750,923.00 84,007,549,386.00
signed
Total 121,204,820,806.00 120,361,456,196.00
Unit: RMB
The Group 30 June 2022 31 December 2021
Outward investment contract signed but not performed or not
26,625,505,707.00 25,226,123,138.00
performed fully
Outward investment contract authorized but contract not
0.00 0.00
signed
Total 26,625,505,707.00 25,226,123,138.00
201
BOE Technology Group Co., Ltd. Interim Report 2022
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 Other Significant Events
1. Debt Restructuring
N/A
2. Assets Replacement
(1) Replacement of Non-monetary Assets
N/A
(2) Replacement of Other Assets
N/A
3. 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).
4. Segment Information
(1) Recognition Basis and Accounting Policies of Reportable Segment
(a) Display business — The Display Devices business offers integrated design and manufacturing services for devices, and is committed
to providing interface devices applying TFT-LCD, AMOLED, Microdisplay and other technologies, focusing on providing customers
with high-quality display devices for smartphones, tablet PCs, laptops, monitors, TVs, vehicle-mounted, electronic shelf label (ESL),
202
BOE Technology Group Co., Ltd. Interim Report 2022
industrial control, household medical applications, applications on wearable devices, whiteboards, tiled display screens, commercial
devices, VR/AR devices, etc.
(b) Internet of Things (IoT) innovation business — The IoT Innovation business offers integrated design and manufacturing services
for system solutions, and provides customers with competitive smart terminal products for TVs, monitors, laptops, tablets, low-power
devices, IoT, 3D display, etc. Backed by AI and big data technologies, it focuses on products and services combining hardware and
software, providing integrated IoT solutions for segments including smart industrial parks, smart finance, smart government affairs and
transportation, visual arts, smart energy, all-in-one machines, etc.
(c) Sensor and application solutions — The Sensor and Solution business offers integrated design and manufacturing services for
system solutions, focuses on medical biological segment, transportation and construction, consumer electronics, microwave
communications, industrial sensors and other fields, and provides customers with design and manufacturing of sensor devices and
system solution services, with specific products and solutions including back plates for flat panel X-ray detectors (FPXD), digital
microfluidic chips, intelligent PDLC glass and PDLC system solutions, fingerprint identification sensors and systems, as well as
industrial sensors and solutions, among others.
(d) MLED — 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.
(e) Smart medicine and engineering — The Smart Medical Engineering business adopts the professional 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 major human-centered services of health management, health technology, digital hospital, and technology
services. It connects testing equipment, healthcare workers and customers through the health IoT platform to build a smart health
management ecosystem where customers enjoy health services including prevention, treatment, therapy and nursing.
(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 the display business, IoT innovation business,
sensor and application solutions, MLED and smart medicine and engineering and other businesses. As these business segments
manufacture and sell different products, apply different manufacturing processes and specify 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.
203
BOE Technology Group Co., Ltd. Interim Report 2022
(2) The Financial Information of Reportable Segment
Unit: RMB
Smart medicine & Sensor and
Smart systems
Item Display business engineering MLED business application solutions Others and offset Total
innovation business
integration business business
Operating income 82,641,917,513.00 13,490,882,043.00 103,681,585.00 411,634,393.00 1,044,238,829.00 -6,082,112,494.00 91,610,241,869.00
Operating costs 69,884,436,495.00 12,263,288,192.00 83,170,915.00 422,333,369.00 848,276,386.00 -9,002,436,995.00 74,499,068,362.00
(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
5. Other Important Transactions and Matters Impacting Investors' Decision-making
N/A
6. Other
N/A
204
BOE Technology Group Co., Ltd. Interim Report 2022
XVI 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 4,774,903,423.00 99.99% 4,090,353.00 0.09% 4,770,813,070.00 4,832,284,906.00 99.98% 4,090,353.00 0.08% 4,828,194,553.00
provision
accrued
separately
Of which:
Accounts
receivable
for which
bad debt 540,349.00 0.01% 46,175.00 8.55% 494,174.00 835,021.00 0.02% 174,299.00 20.87% 660,722.00
provision
accrued by
group
Of which:
Total 4,775,443,772.00 100.00% 4,136,528.00 0.09% 4,771,307,244.00 4,833,119,927.00 100.00% 4,264,652.00 0.09% 4,828,855,275.00
Bad debt provision withdrawn separately:
Unit: RMB
Ending balance
Name
Book value Provision for impairment Withdrawal proportion Reason for withdrawal
Customers with high credit risks 4,090,353.00 4,090,353.00 100.00% N/A
Customers with low credit risks 4,770,813,070.00 0.00 0.00% N/A
Total 4,774,903,423.00 4,090,353.00
Bad debt provision accrued by group:
205
BOE Technology Group Co., Ltd. Interim Report 2022
Unit: RMB
Ending balance
Name
Book value Provision for impairment Withdrawal proportion
Customers with moderate credit risks 540,349.00 46,175.00 8.55%
Total 540,349.00 46,175.00
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
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
accounts receivable.
Applicable □ Not applicable
At all times the Group measures the impairment loss for accounts receivable at an amount equal to lifetime ECLs, and the ECLs are based on the number of overdue days and the expected loss
rate. According to the Group’s historical experience, different loss models are applicable to different customer groups.
Disclosed by aging
Unit: RMB
Ageing Ending balance
Within 1 year (including 1 year） 4,368,130,081.00
1 to 2 years 182,281,809.00
2 to 3 years 209,571,841.00
Over 3 years 15,460,041.00
3 to 4 years 14,236,057.00
4 to 5 years 0.00
More than 5 years 1,223,984.00
Total 4,775,443,772.00
206
BOE Technology Group Co., Ltd. Interim Report 2022
(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
Bad debt of
accounts 4,264,652.00 24,021.00 -152,145.00 0.00 0.00 4,136,528.00
receivable
Total 4,264,652.00 24,021.00 -152,145.00 0.00 0.00 4,136,528.00
Of which bad debt provision reversed or recovered with significant amount:
Unit: RMB
Subsidiary Amount reversed or recovered Way of recovery
N/A
(3) Accounts Receivable with Actual Verification during the Reporting Period
Unit: RMB
Item Amount verified
Accounts receivable with actual verification 0.00
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
Proportion to the total ending
Ending balance of accounts Ending balance of bad debt
Subsidiary balance of accounts
receivable provisions
receivable
Sum of top 5 accounts
4,297,098,823.00 89.98% 0.00
receivable
Total 4,297,098,823.00 89.98%
(5) Accounts Receivable Derecognized Due to the Transfer of Financial Assets
N/A
207
BOE Technology Group Co., Ltd. Interim Report 2022
(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 919,429,466.00 219,715,564.00
Other receivables 20,924,670,100.00 15,230,115,046.00
Total 21,844,099,566.00 15,449,830,610.00
(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
Unit: RMB
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
(2) Dividend Receivable
1) Category of Dividend Receivable
Unit: RMB
Item(or investee) Ending balance Beginning balance
BeijingMatsushita Color CRT Co., Ltd.
214,240,861.00 214,240,861.00
(BMCC)
BOE (Korea) Co., Ltd. 5,265,528.00 5,474,703.00
Hefei BOE Optoelectronics Technology
300,000,000.00 0.00
Co., Ltd.
208
BOE Technology Group Co., Ltd. Interim Report 2022
Beijing BOE Display Technology Co.,
100,000,000.00 0.00
Ltd.
Hefei Xinsheng Optoelectronics
299,923,077.00 0.00
Technology Co., Ltd.
Total 919,429,466.00 219,715,564.00
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
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 20,734,630,143.00 15,065,482,829.00
Others 197,606,294.00 171,434,127.00
Total 20,932,236,437.00 15,236,916,956.00
2) Withdrawal of Bad Debt Provision
Unit: RMB
Phase I Phase II Phase III
Expected credit losses Expected credit losses
Provision for impairment Expected credit losses for the whole existence for the whole existence Total
in the next 12 months period (no credit period (with credit
impairment) impairment)
Balance of 1 January 2022 0.00 0.00 6,801,910.00 6,801,910.00
Balance of 1 January 2022 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
0.00 0.00 764,427.00 764,427.00
period
Reversal of the current period 0.00 0.00 0.00 0.00
Write-offs of the current
0.00 0.00 0.00 0.00
period
Verification of the current
0.00 0.00 0.00 0.00
period
Other changes 0.00 0.00 0.00 0.00
Balance of 30 June 2022 0.00 0.00 7,566,337.00 7,566,337.00
209
BOE Technology Group Co., Ltd. Interim Report 2022
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） 12,657,995,654.00
1 to 2 years 6,485,379,818.00
2 to 3 years 1,722,373,288.00
Over 3 years 66,487,677.00
3 to 4 years 37,871,169.00
4 to 5 years 5,514,186.00
More than 5 years 23,102,322.00
Total 20,932,236,437.00
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
Beginning
Category Reversal or Ending balance
balance Withdrawal Write-off Others
recovery
Bad debt
provisions for
6,801,910.00 764,427.00 0.00 0.00 0.00 7,566,337.00
other
receivables
Total 6,801,910.00 764,427.00 0.00 0.00 0.00 7,566,337.00
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
210
BOE Technology Group Co., Ltd. Interim Report 2022
5) Top 5 Other Accounts Receivable in Ending Balance Collected according to the Arrears Party
Unit: RMB
Proportion to
the total Ending
ending balance of
Subsidiary Nature Ending balance Ageing
balance of bad debt
other provisions
receivables
Transaction Within 1 year (including 1
Customer A 4,643,582,801.00 22.18% 0.00
amount year), 1 to 2 years, 2 to 3 years
Transaction Within 1 year (including 1
Customer B 3,174,737,849.00 15.17% 0.00
amount year), 1 to 2 years, 2 to 3 years
Within 1 year (including 1
Transaction year), 1 to 2 years, 2 to 3
Customer C 2,895,947,531.00 13.83% 0.00
amount years, 3 to 4 fours and 4 to 5
years
Within 1 year (including 1
Transaction
Customer D 2,411,352,447.00 year), 1 to 2 years, 2 to 3 11.52% 0.00
amount
years, and 3 to 4 fours
Transaction Within 1 year (including 1
Customer E 2,027,632,475.00 9.69% 0.00
amount year), 1 to 2 years, 2 to 3 years
Total 15,153,253,103.00 72.39% 0.00
6) Accounts Receivable Involving Government Grants
Unit: RMB
Estimated
Project of
Subsidiary Ending balance Ending aging recovering time,
government grants
amount and basis
N/A
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
211
BOE Technology Group Co., Ltd. Interim Report 2022
3. Long-term Equity Investment
Unit: RMB
Ending balance Beginning balance
Item Provision for Provision for
Book value Carrying amounts Book value Carrying amounts
impairment impairment
Investment to subsidiaries 209,995,888,482.00 32,000,000.00 209,963,888,482.00 207,777,846,290.00 32,000,000.00 207,745,846,290.00
Investment to joint ventures and
3,411,891,317.00 0.00 3,411,891,317.00 3,199,974,945.00 0.00 3,199,974,945.00
associated enterprises
Total 213,407,779,799.00 32,000,000.00 213,375,779,799.00 210,977,821,235.00 32,000,000.00 210,945,821,235.00
(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.,
342,184,564.00 0.00 0.00 0.00 4,565,664.00 346,750,228.00 0.00
Ltd.
Beijing BOE Land Co., Ltd. 8,568,773.00 0.00 0.00 0.00 407,340.00 8,976,113.00 0.00
BOE (Heibei) Mobile Display
1,354,940,194.00 0.00 0.00 0.00 600,036.00 1,355,540,230.00 0.00
Technology Co., Ltd.
BOE Hyundai LCD (Beijing)
36,624,841.00 0.00 0.00 0.00 2,395,728.00 39,020,569.00 0.00
Display Technology Co., Ltd.
Beijing BOE Vacuum
19,577,537.00 0.00 0.00 0.00 159,342.00 19,736,879.00 0.00
Electronics Co., Ltd.
Beijing BOE Vacuum
0.00 0.00 0.00 0.00 0.00 0.00 32,000,000.00
Technology Co., Ltd.
Beijing BOE Optoelectronics
4,198,742,954.00 0.00 4,172,288,084.00 0.00 6,816,222.00 33,271,092.00 0.00
Technology Co., Ltd.
BOE Optical Science and
662,168,271.00 0.00 0.00 0.00 2,720,964.00 664,889,235.00 0.00
Technology Co., Ltd.
Beijing BOE Sales Co., Ltd. 31,014,071.00 0.00 0.00 0.00 250,086.00 31,264,157.00 0.00
Chengdu BOE Optoelectronics
25,055,603,860.00 0.00 0.00 0.00 24,089,190.00 25,079,693,050.00 0.00
Technology Co., Ltd.
BOE (Korea) Co., Ltd. 3,900,987.00 0.00 0.00 0.00 1,608,000.00 5,508,987.00 0.00
BOE Optoelectronics Holding
3,211,961,538.00 0.00 0.00 0.00 0.00 3,211,961,538.00 0.00
Co., Ltd.
Beijing BOE Display 17,520,168,739.00 0.00 0.00 0.00 57,491,466.00 17,577,660,205.00 0.00
212
BOE Technology Group Co., Ltd. Interim Report 2022
Technology Co., Ltd.
Beijing BOE Energy
854,286,893.00 0.00 0.00 0.00 1,942,704.00 856,229,597.00 0.00
Technology Co., Ltd.
Beijing BOE Multimedia
400,000,000.00 0.00 0.00 0.00 0.00 400,000,000.00 0.00
Technology Co., Ltd.
Hefei BOE Optoelectronics
9,032,079,808.00 0.00 0.00 0.00 13,863,840.00 9,045,943,648.00 0.00
Technology Co., Ltd.
Beijing Matsushita Colour
2,527,690.00 0.00 0.00 0.00 1,172,250.00 3,699,940.00 0.00
Innovation Co., Ltd.
Beijing BOE Vision Electronic
4,094,913,328.00 330,595,800.00 0.00 0.00 1,296,498.00 4,426,805,626.00 0.00
Technology Co., Ltd.
Beijing BOE Life Technology
10,000,000.00 0.00 0.00 0.00 0.00 10,000,000.00 0.00
Co., Ltd.
Beijing Zhongxiangying
100,578,919.00 0.00 0.00 0.00 424,452.00 101,003,371.00 0.00
Technologies Co., Ltd.
Ordos Yuansheng
11,808,874,625.00 0.00 0.00 0.00 2,428,434.00 11,811,303,059.00 0.00
Optoelectronics Co., Ltd.
Hefei Xinsheng
Optoelectronics Technology 20,122,733,179.00 0.00 0.00 0.00 15,196,494.00 20,137,929,673.00 0.00
Co., Ltd.
Chongqing BOE
Optoelectronics Technology 19,584,823,404.00 0.00 0.00 0.00 7,117,440.00 19,591,940,844.00 0.00
Co., Ltd.
Hefei BOE Display
2,020,815,508.00 0.00 0.00 0.00 9,277,638.00 2,030,093,146.00 0.00
Technology Co., Ltd.
Fuzhou BOE Optoelectronics
14,687,793,781.00 0.00 0.00 0.00 6,065,382.00 14,693,859,163.00 0.00
Technology Co., Ltd.
BOE Healthcare Investment &
7,283,180,411.00 220,000,000.00 0.00 0.00 398,886.00 7,503,579,297.00 0.00
Management Co., Ltd.
BOE Wisdom IOT Technology
13,441,936.00 0.00 0.00 0.00 6,865,536.00 20,307,472.00 0.00
Co., Ltd.
Hefei BOE Zhuoyin
602,251,996.00 0.00 0.00 0.00 1,095,558.00 603,347,554.00 0.00
Technology Co., Ltd.
Beijing BOE Technology
1,724,087.00 0.00 0.00 0.00 352,266.00 2,076,353.00 0.00
Development Co., Ltd.
Yunnan Chuangshijie
Optoelectronics Technology 1,514,944,989.00 0.00 0.00 0.00 1,746,552.00 1,516,691,541.00 0.00
Co., Ltd.
Beijing BOE Sensor
221,944,202.00 4,213,288,084.00 0.00 0.00 5,802,222.00 4,441,034,508.00 0.00
Technology Co., Ltd.
Mianyang BOE
22,329,872,372.00 0.00 0.00 0.00 6,216,570.00 22,336,088,942.00 0.00
Optoelectronics Co., Ltd.
Wuhan BOE Optoelectronics
12,511,267,959.00 0.00 0.00 0.00 6,342,084.00 12,517,610,043.00 0.00
Technology Co., Ltd.
Chongqing BOE Display 9,085,662,024.00 218,750,000.00 0.00 0.00 3,651,234.00 9,308,063,258.00 0.00
213
BOE Technology Group Co., Ltd. Interim Report 2022
Technology Co., Ltd.
Fuzhou BOE Display
22,454,088.00 0.00 0.00 0.00 170,712.00 22,624,800.00 0.00
Technology Co., Ltd.
Hefei BOE Xingyu
335,731,430.00 169,364,156.00 0.00 0.00 568,356.00 505,663,942.00 0.00
Technology Co., Ltd.
BOE Innovation Investment
2,964,000,000.00 234,000,000.00 0.00 0.00 85,356.00 3,198,085,356.00 0.00
Co., Ltd.
BOE Education Technology
27,881,265.00 0.00 0.00 0.00 1,316,358.00 29,197,623.00 0.00
Co., Ltd.
BOE Smart Technology Co.,
1,822,000,000.00 250,000,000.00 0.00 0.00 0.00 2,072,000,000.00 0.00
Ltd.
Nanjing BOE Display
5,591,893,772.00 0.00 0.00 0.00 3,244,668.00 5,595,138,440.00 0.00
Technology Co., Ltd.
Chengdu CEC Panda Display
7,550,673,783.00 0.00 0.00 0.00 3,114,414.00 7,553,788,197.00 0.00
Technology Co., Ltd.
Dongfang Chengqi (Beijing)
8,000,000.00 2,000,000.00 0.00 0.00 1,691,742.00 11,691,742.00 0.00
Business Technology Co., Ltd.
BOE Mled Technology Co.,
600,366,251.00 455,000,000.00 0.00 0.00 5,834,310.00 1,061,200,561.00 0.00
Ltd.
BOE Environmental Energy
0.00 50,000,000.00 0.00 0.00 0.00 50,000,000.00 0.00
Technology Co., Ltd.
Others* 84,222,261.00 0.00 0.00 0.00 38,946,242.00 123,168,503.00 0.00
Total 207,745,846,290.00 6,142,998,040.00 4,172,288,084.00 0.00 247,332,236.00 209,963,888,482.00 32,000,000.00
(2) Investment to Joint Ventures and Associated Enterprises
Unit: RMB
Increase/decrease
Profit and loss Ending
Beginning Declared
on Adjustment of Ending balance balance for
The investor balance distribution
Additional Reduced investments other Other equity Impairment (carrying value) impairment
(carrying value) of cash Others
investments investments confirmed comprehensive movements provisions provisions
dividends or
according to income
profits
equity law
I. Joint ventures
N/A
II. Associated enterprises
Beijing
Nissin
Electronics 2,013,138.00 0.00 0.00 858,488.00 0.00 0.00 0.00 0.00 0.00 2,871,626.00 0.00
Precision
Component
214
BOE Technology Group Co., Ltd. Interim Report 2022
Co., Ltd.
Beijing
Nittan
77,596,241.00 0.00 0.00 475,086.00 0.00 0.00 0.00 0.00 0.00 78,071,327.00 0.00
Electronic
Co., Ltd.
Beijing Infi-
Hailin
Venture 0.00 0.00 0.00 1,596,566.00 0.00 0.00 0.00 0.00 0.00 1,596,566.00 0.00
Investment
Co., Ltd.
Beijing Fly
Hailin
Investment 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Center
(LLP)
Erdos BOE
Energy
76,107,007.00 0.00 0.00 -91,847.00 0.00 0.00 0.00 0.00 0.00 76,015,160.00 0.00
Investment
Co., Ltd.
TPV
Display
Technology 28,459,837.00 0.00 0.00 479,181.00 0.00 0.00 0.00 0.00 0.00 28,939,018.00 0.00
(China)
Limited
Beijing
XindongNe -
2,088,917,867.0 129,798,59 396,305,719.0 2,277,316,974.0
ng 0.00 -15,049,881.00 0.00 0.00 0.00 63,058,137. 0.00
Investment 0 4.00 0 0
00
Fund (LLP)
Beijing
Xindongnen -
g
8,640,494.00 0.00 0.00 1,630,439.00 0.00 0.00 2,000,000.0 0.00 0.00 8,270,933.00 0.00
Investment
Managemen 0
t Co., Ltd.
Shenzhen
Yunyinggu
41,093,186.00 0.00 0.00 1,974,946.00 93,053.00 369,308.00 0.00 0.00 0.00 43,530,493.00 0.00
Technology
Co., Ltd.
Beijing
Xloong
21,091,552.00 0.00 0.00 -274,258.00 0.00 0.00 0.00 0.00 0.00 20,817,294.00 0.00
Technologie
s Co., Ltd.
Beijing 207,564,573.00 0.00 0.00 11,035,537.00 0.00 0.00 0.00 0.00 0.00 218,600,110.00 0.00
215
BOE Technology Group Co., Ltd. Interim Report 2022
Innovation
Industry
Investment
Co., Ltd.
Beijing
Electric
Control
231,777,557.00 0.00 0.00 1,835,865.00 4,743,127.00 0.00 0.00 0.00 0.00 238,356,549.00 0.00
Industry
Investment
Co., Ltd.
BOE Yiyun
Science &
215,529,981.00 0.00 0.00 1,648,526.00 0.00 0.00 0.00 0.00 0.00 217,178,507.00 0.00
Technology
Co., Ltd.
Guoke BOE
(Shanghai)
Equity
1,183,512.00 0.00 0.00 -856,752.00 0.00 0.00 0.00 0.00 0.00 326,760.00 0.00
Investment
Managemen
t Co., Ltd.
Chengdu
BOE
Automotive 200,000,000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 200,000,000.00 0.00
Electronics
Co., Ltd.
- -
3,199,974,945.0 129,798,59 416,617,496.0 3,411,891,317.0
Sub-total 0.00 -10,213,701.00 369,308.00 2,000,000.0 0.00 63,058,137. 0.00
0 4.00 0 0
0 00
- -
3,199,974,945.0 129,798,59 416,617,496.0 3,411,891,317.0
Total 0.00 -10,213,701.00 369,308.00 2,000,000.0 0.00 63,058,137. 0.00
0 4.00 0 0
0 00
216
BOE Technology Group Co., Ltd. Interim Report 2022
(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 2,707,458,580.00 5,154,112.00 3,046,433,371.00 3,174,980.00
Other operating
5,353,456.00 127,110.00 10,053,772.00 2,565,504.00
activities
Total 2,712,812,036.00 5,281,222.00 3,056,487,143.00 5,740,484.00
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:
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.
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
Item Reporting Period Same period of last year
Income from long-term equity investments accounted for using
1,099,923,077.00 1,680,000,000.00
cost method
Income from long-term equity investments accounted for using
416,617,496.00 13,838,703.00
equity method
Investment income from disposal of long-term equity
0.00 0.00
investments
217
BOE Technology Group Co., Ltd. Interim Report 2022
Investment income arising from holding of trading financial
0.00 0.00
assets
Investment income from disposal of financial assets held for
0.00 0.00
trading
Dividend income received from holding of other equity
206,210.00 3,554,579.00
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
0.00 0.00
holding 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 0.00
obligations
Total 1,516,746,783.00 1,697,393,282.00
6. Other
N/A
XVII 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 -1,480,132.00 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 recognized in the current period, except for those acquired in the
ordinary course of business or granted at certain quotas or amounts according to the 2,960,353,628.00 N/A
government’s unified standards
Capital occupation charges on non-financial enterprises that are charged to current profit or
0.00 N/A
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 fair 0.00 N/A
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 unfair
0.00 N/A
prices
Current profit or loss on subsidiaries obtained in business combinations involving
0.00 N/A
enterprises 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
0.00 N/A
business
Gain or loss on fair-value changes in held-for-trading financial assets and liabilities &
income from disposal of held-for-trading financial assets and liabilities and available-for-
122,322,990.00 N/A
sale financial assets (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 which are tested
20,528,284.00 N/A
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 and 0.00 N/A
218
BOE Technology Group Co., Ltd. Interim Report 2022
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 85,481,075.00 N/A
Other items qualified as extraordinary gain and loss 0.00 N/A
Less: Income tax effects 92,067,447.00 N/A
Non-controlling interests effects 738,932,753.00 N/A
Total 2,356,205,645.00 --
Others that meets the definition of non-recurring gain/loss:
□Applicable Not applicable
No such cases in the Reporting Period.
Explain the reasons if the Company classifies any extraordinary gain/loss item mentioned in the Explanatory Announcement No. 1 on
Information Disclosure for Companies Offering Their Securities to the Public—Non-recurring Gains and Losses as a recurrent gain/loss
item
□Applicable Not applicable
2. Return on Equity and Earnings Per Share
EPS (Yuan/share)
Weighted average return on
Profit as of Reporting Period Basic earnings per share Diluted earnings per
net assets
(RMB/share) share (RMB/share)
Net profit attributable to the Company’s
4.80% 0.166 0.166
ordinary equity shareholders
Net profit excluding extraordinary gain
and loss attributable to the Company’s 2.99% 0.104 0.104
ordinary equity shareholders
3. Differences between Accounting Data under Domestic and Overseas Accounting Standards
(1) Differences of Net Profit and Net Assets Disclosed in Financial Reports Prepared under International and
Chinese Accounting Standards
□Applicable Not applicable
(2) Differences of Net profit and Net assets Disclosed in Financial Reports Prepared under Overseas and
Chinese Accounting Standards
□Applicable Not applicable
(3) Explain Reasons for the Differences between Accounting Data under Domestic and Overseas Accounting
Standards; for any Adjustment Made to the Difference Existing in the Data Audited by the Foreign Auditing
Agent, Such Foreign Auditing Agent’s Name Shall Be Clearly Stated
N/A
4. Other
N/A
219
