HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for the First Quarter 2022
HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for
The First Quarter 2022
The Company and whole members of the Board of Directors guarantee that the information disclosed
is factual, accurate and complete, and there is no false record, misleading statement or material
omission.
Important content reminder:
1.The Board of Directors, the Board of Supervisors as well as all the directors, supervisors and senior
managers of HARBIN BOSHI AUTOMATION CO., LTD. (hereinafter referred to as “the Company”)
warrant the factuality, accuracy and completeness of this Report and there is no false record,
misleading statement or material omission. And they will be severally and jointly liable for this Report.
2.The person in charge of the Company, the person in charge of accounting work of the Company, and
the person in charge of accounting department of the Company warrant that the financial information
in this Report is factual, accurate and complete.
3. Whether this First Interim Report has been audited by auditing firm or not?
□Yes √No
I. Main financial data
1. Main accounting data and financial indicators
Indicate by check mark if there is any retrospectively restated accounting data of previous years.
□Yes √No
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HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for the First Quarter 2022
Increase/Decrease over the
Jan 1 to Mar 31, 2022 Jan 1 to Mar 31, 2021
same period of previous year
Operating Revenue (Yuan) 504,286,748.22 546,281,751.47 -7.69%
Net profit attributable to parent company’s
153,163,366.86 149,917,543.44 2.17%
shareholders (Yuan)
Net profit after deducting non-recurring
profit or loss attributable to shareholders of the 146,195,048.97 140,396,126.34 4.13%
parent company (Yuan)
Net cash flow from operating activities (Yuan) 55,942,302.81 106,876,043.79 -47.66%
Basic earnings per share (Yuan/share) 0.1498 0.1466 2.18%
Diluted earnings per share (Yuan/share) 0.1498 0.1466 2.18%
Weighted average return on equity 5.16% 5.67% -0.51%
Increase/decrease of Mar 31,
Mar 31, 2022 Dec 31, 2021
2022 over Dec 31, 2021
Total assets (Yuan) 5,166,790,485.06 4,901,945,419.82 5.40%
Total equity attributable to shareholders of the
3,066,054,181.56 2,879,793,106.39 6.47%
parent company (Yuan)
2. Non-recurring gains and losses
√ Applicable □Not applicable
Unit: RMB Yuan
Item Jan 1 to Mar 31, 2022 Note
Profit or loss from disposal of non-current assets (including the write-off of accrued
-229.97
for impairment of assets)
Governmental subsidy reckoned into current gains or losses (excluding the subsidy
enjoyed in quota or ration according to the unified national standards, which are 1,629,304.14
closely relevant to enterprise’s business)
Except for effectively hedging business related to normal business operations of the
Company, profit or loss arising from the changes in the fair value of financial assets
Income from cash
held for trading, financial liabilities held for trading, as well as investment income 6,306,036.02
management
from the disposal of financial assets held for trading, financial liabilities held for
trading, and investments in other debt obligations
Other non-operating income and expenses other than the above 1.37
Less: Impact on income tax 869,255.04
Impact on minority shareholders’ equity (after tax) 97,538.63
Total 6,968,317.89 --
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HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for the First Quarter 2022
Other gain/loss items that qualified the definition of non-recurring profit (gains)/losses:
□ Applicable √ Not applicable
The Company does not have other gain/loss items that qualified the definition of non-recurring profit
(gains)/losses.
Explanation on those non-recurring gain/loss listed in the “Q&A Announcement No.1 on Information
Disclosure for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss” defined as
recurring gain/loss.
□ Applicable √ Not applicable
The Company does not have the non-recurring gain/loss listed in the “Q&A Announcement No.1 on
Information Disclosure for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss”
defined as recurring gain/loss.
3. Particulars about changes in items of main accounting data and financial index and explanations of
reasons.
√ Applicable □Not applicable
Mar 31,2022 Dec 31,2021
Consolidated Balance Sheet items Change Reasons for the changes
(RMB Yuan) (RMB Yuan)
Due to the increase in ending balance of bank
Cash and cash equivalent 387,365,080.04 293,516,532.24 31.97%
deposits.
Due to the increase in product warranty compared
Contract assets 96,418,358.77 65,959,231.77 46.18%
with which of the beginning balance.
Mainly due to the impact on cash management
Other current assets 30,303,945.08 102,006,478.67 -70.29%
activities.
Due to the decrease in long-term product
Other non-current assets 8,445,943.95 16,767,197.42 -49.63% warranty compared with which of the beginning
balance.
The year-end bonus of 2021 accrued at the end of
Employee benefits payable 21,271,419.11 55,640,882.93 -61.77% the previous period, which was paid in Jan, 2022,
and the balance decreased.
Due to the subsidiary Boao Environment pay back
Non-current liabilities due within one year 2,273,649.58 15,584,251.66 -85.41%
the bank loan.
Consolidated Income Statement items from Jan 1 to Mar 31,2022 Jan 1 to Mar 31, 2021
the beginning of the year to the end of the Change Reasons for the changes
(RMB Yuan) (RMB Yuan)
reporting period
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HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for the First Quarter 2022
The increase of value-added tax led to surcharges
Taxes and surcharges 5,493,462.60 3,215,878.17 70.82%
increase.
The tax refund received from product with
Other income 12,886,757.68 24,924,414.47 -48.30% software decreased compared with which of the
same period of last year.
The investment income on equity method from
Investment income (loss is stated with “-”) 25,896,672.03 -3,630,366.42 813.33% associates and joint ventures increased
year-on-year.
Credit impairment losses (loss is stated Due to the impact of the provision for bad debts
11,240,084.91 3,731,390.95 -201.23%
with “-”) accrued.
Asset impairment losses (loss is stated with Mainly due to the impact of the provision for
-5,674,134.02 -960,513.98 490.74%
“-”) inventories and contract assets accrued.
The net profit of the subsidiary Boao
Environment decreased year-on-year, and the
Minority interests 138,461.49 3,751,352.94 -96.31%
proportion of interests shared by the minority
shareholders of the subsidiary decreased.
Consolidated Cash Flow Statement items Jan 1 to Mar 31,2022 Jan 1 to Mar 31, 2021
from the beginning of the year to the end of Change Reasons for the changes
(RMB Yuan) (RMB Yuan)
the reporting period
The cash outflows from operating activities, such
Net cash flows from operating activities 55,942,302.81 106,876,043.79 -47.66% as cash paid to employees and tax payments, etc.
increased year-on-year.
Mainly due to the impact of cash management
Net cash flows from investing activities 49,076,700.07 -129,866,710.84 137.79%
activities.
Due to the subsidiary pay back the bank loan this
Net cash flows from financing activities -10,871,914.95 -7,838,611.91 -38.70%
period.
II. Shareholders Information
1. Total number of common shareholders and preference shareholders with voting rights recovered
and top ten common shareholders
Unit: Share
Total preference shareholders with
Total number of shareholders of common
23,255 voting rights recovered at end of 0
stocks at the end of the reporting period
reporting period
Top 10 shareholders
Amount of Pledged or frozen
Name Nature Ownership Amount of shares held restricted stocks
shares held Status Amount
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HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for the First Quarter 2022
Unicom Kaixing Equity Investment
Management (Zhuhai Hengqin) Limited -
Lianchuang Weilai (Wuhan) Intelligent Others 17.11% 175,007,500
Manufacturing Industrial Investment
Partnership (Limited Partnership)
Deng Xijun Domestic natural person 9.31% 95,206,362 71,404,772
Zhang Yuchun Domestic natural person 8.09% 82,696,357 62,022,268
Wang Chungang Domestic natural person 5.61% 57,394,047 43,045,535
Harbin Institute of Technology Asset Domestic state-owned
5.00% 51,127,500
Investment Management Co. Ltd corporate
Cai Zhihong Domestic natural person 4.96% 50,677,029
Cai Hegao Domestic natural person 4.89% 50,000,000 37,500,000
Bank of China Co., Ltd.-China Merchant
Others 2.78% 28,379,609
Ruiwen Hybrid Securities Investment Fund
Tan Jianxun Domestic natural person 1.51% 15,432,533
Cheng Fang Domestic natural person 1.50% 15,325,238
Top 10 shareholders with unrestricted shares held
Type of shares
Name Amount of unrestricted shares held
Type Amount
Unicom Kaixing Equity Investment
Management (Zhuhai Hengqin) Limited -
Lianchuang Weilai (Wuhan) Intelligent 175,007,500 RMB ordinary shares 175,007,500
Manufacturing Industrial Investment
Partnership (Limited Partnership)
Harbin Institute of Technology Asset
51,127,500 RMB ordinary shares 51,127,500
Investment Management Co. Ltd
Cai Zhihong 50,677,029 RMB ordinary shares 50,677,029
Bank of China Co., Ltd.-China Merchant
28,379,609 RMB ordinary shares 28,379,609
Ruiwen Hybrid Securities Investment Fund
Deng Xijun 23,801,590 RMB ordinary shares 23,801,590
Zhang Yuchun 20,674,089 RMB ordinary shares 20,674,089
Tan Jianxun 15,432,533 RMB ordinary shares 15,432,533
Cheng Fang 15,325,238 RMB ordinary shares 15,325,238
Wang Chungang 14,348,512 RMB ordinary shares 14,348,512
Cai Hegao 12,500,000 RMB ordinary shares 12,500,000
Deng Xijun, Zhang Yuchun, Wang Chungang, and Cai Hegao keep concerted action through the
Explanation on the above-mentioned
Concerted Action Agreement and jointly control the Company at the end of the reporting period; Cai
shareholders’ affiliated relationship or
Zhihong is the son of Cai Hegao, he independently exercised shareholder rights based on his personal
concerted action
wishes, he has not signed concerted action agreement or reached a similar agreement or arrangement with
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HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for the First Quarter 2022
Cai Hegao, nor has other concerted action plan, they are not persons acting in concert; Cheng Fang and
Tan Jianxun are the sponsors of shareholders. Cheng Fang is the sister of Wang Chungang’s wife. In
addition, the Company is not made aware whether there is any affiliated relationship between the
above-mentioned shareholders or whether they are persons acting in concert as defined in Administrative
Measures for the Acquisition of Listed Companies.
Explanation on top 10 shareholders that are
Not applicable
engaged in margin trading business
2.The total number of preferred shareholders and the top 10 preferred shareholders’ shareholdings of
the Company
□Applicable √Not applicable
III. Other Significant Events
□Applicable √Not applicable
IV. Quarterly Financial Statements
1. Financial statements
(1)Consolidated Balance Sheet
Prepared by HARBIN BOSHI AUTOMATION CO., LTD. Unit: Yuan
Item Mar 31 ,2022 Dec 31, 2021
Current assets:
Cash and cash equivalent 387,365,080.04 293,516,532.24
Financial assets held for trading 876,027,165.53 845,595,470.49
Derivative financial assets
Notes receivable 251,501,040.76 229,646,179.07
Accounts receivable 726,259,798.96 686,517,240.24
Financing receivable 101,620,437.60 79,149,044.16
Advance payment 158,337,898.44 122,894,199.23
Other receivables 18,681,775.40 15,263,337.81
Thereof: Interest receivable
Dividend receivable
Inventories 1,656,819,142.75 1,634,635,126.78
Contract assets 96,418,358.77 65,959,231.77
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HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for the First Quarter 2022
Assets held for sale
Non-current assets due within one year
Other current assets 30,303,945.08 102,006,478.67
Total current assets 4,303,334,643.33 4,075,182,840.46
Non-current assets:
Debt investments
Other debt investments
Long-term receivable
Long-term equity investment 413,940,795.28 368,931,927.57
Investment in other equity instruments 54,843,027.56 54,843,027.56
Other non-current financial assets
Investment real estate 6,667,764.82 6,765,974.62
Fixed assets 221,693,770.04 227,527,890.89
Construction in progress
Productive biological assets
Oil and gas assets
Right-of-use assets 3,752,730.41 1,536,107.89
Intangible assets 63,899,063.96 59,203,985.82
Development expenditure
Goodwill 56,583,814.35 57,640,668.16
Long-term deferred expenses
Deferred income tax assets 33,628,931.36 33,545,799.43
Other non-current assets 8,445,943.95 16,767,197.42
Total non-current assets 863,455,841.73 826,762,579.36
Total assets 5,166,790,485.06 4,901,945,419.82
Current liabilities:
Short-term loans 30,130,000.00 25,130,000.00
Financial liabilities held for trading
Derivative financial liabilities
Notes payable
Accounts payable 164,498,036.94 169,654,369.55
Advance from customers 387,000.00 93,199.97
Contract liabilities 1,328,101,709.77 1,183,763,174.21
Employee benefits payable 21,271,419.11 55,640,882.93
Taxes payable 63,624,534.80 50,017,507.87
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HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for the First Quarter 2022
Other payables 2,310,229.41 1,310,296.34
Thereof: Interest payable
Dividend payable
Liabilities held for sale
Non-current liabilities due within one year 2,273,649.58 15,584,251.66
Other current liabilities 79,476,846.67 87,335,615.64
Total current liabilities 1,692,073,426.28 1,588,529,298.17
Non-current liabilities:
Long-term loans
Bonds payable
Thereof: Preferred stock
Perpetual debt
Lease liabilities 1,035,810.73 364,078.19
Long-term payables 6,000,000.00 6,000,000.00
Long-term employee benefits payable
Estimated liabilities 3,496,008.31 4,202,180.70
Deferred income 7,346,182.80 8,369,857.05
Deferred income tax liability 13,398,763.74 13,350,055.20
Other non-current liabilities 210,072,280.39 233,253,274.34
Total non-current liabilities 241,349,045.97 265,539,445.48
Total Liabilities 1,933,422,472.25 1,854,068,743.65
Shareholders' equity:
Share capital 1,022,550,000.00 1,022,550,000.00
Other equity instruments
Thereof: Preferred stock
Perpetual debt
Capital reserve 201,548,772.96 168,298,491.29
Minus: treasury shares
Other comprehensive income 14,297,757.67 15,452,263.61
Special reserve 27,143,204.27 26,141,271.69
Surplus reserve 255,493,157.09 255,493,157.09
General risk reserve
Retained earnings 1,545,021,289.57 1,391,857,922.71
Total equity attributable to shareholders of parent
3,066,054,181.56 2,879,793,106.39
company
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HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for the First Quarter 2022
Minority shareholder equity 167,313,831.25 168,083,569.78
Total shareholders' equity 3,233,368,012.81 3,047,876,676.17
Total liabilities and shareholders' equity 5,166,790,485.06 4,901,945,419.82
Legal representative: Deng Xijun Director of Finance: Sun Zhiqiang Prepared by: Wang Peihua
(2)Consolidated Income Statement
Unit: Yuan
Item Current period Last period
1. Total revenue 504,286,748.22 546,281,751.47
Thereof : Operating revenue 504,286,748.22 546,281,751.47
2. Total cost 374,497,565.09 390,910,713.21
Thereof: Cost of sales 304,956,236.67 329,073,920.47
Taxes and surcharges 5,493,462.60 3,215,878.17
Selling expenses 18,514,567.31 16,890,482.47
General and administrative expenses 28,743,732.58 24,597,082.34
Research and development expenses 16,829,101.44 16,321,372.60
Financial expenses -39,535.51 811,977.16
Thereof : Interest expenses 391,974.12 344,479.07
Interest income 1,545,360.24 35,314.93
Add: Other income 12,886,757.68 24,924,414.47
Investment income (loss is stated with “-”) 25,896,672.03 -3,630,366.42
Thereof: Investment income from associates and joint
21,352,331.05 -7,616,168.62
ventures
Gain from the derecognition of the financial assets measured
at amortized cost
Exchange income (Loss is listed with “-”)
Net exposure hedging gains ("-" for losses)
Gains from changes in fair value (loss is stated with “-”) 1,761,695.04 2,804,313.55
Credit impairment losses (loss is stated with “-”) 11,240,084.91 3,731,390.95
Asset impairment losses (loss is stated with “-”) -5,674,134.02 -960,513.98
Gains from disposal of assets (loss is stated with “-”) 72.23 -16,983.16
3. Operating profit (loss is stated with “-”) 175,900,331.00 182,223,293.67
Add: Non-operating income 1.37
Less: Non-operating expenses 302.22 236.75
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HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for the First Quarter 2022
4. Total profit (loss is stated with “-”) 175,900,030.15 182,223,056.92
Less: Income tax expenses 22,598,201.80 28,554,160.54
5. Net profit (loss is stated with “-”) 153,301,828.35 153,668,896.38
(1) Classified by continuity of operations
Net profit from continuing operations(loss is stated with “-”) 153,301,828.35 153,668,896.38
Net profit from discontinued operations(loss is stated with “-”)
(2) Classified by ownership of the equity
Attributable to shareholders of the Parent Company 153,163,366.86 149,917,543.44
Minority interests 138,461.49 3,751,352.94
6. Other comprehensive income, net of tax -2,269,516.24 -4,551,275.98
Other comprehensive income attributable to shareholders of the
-1,154,505.94 -2,321,150.75
Parent Company, net of tax
(1) Other comprehensive income items which will not be
reclassified subsequently to profit or loss
1) Changes arising from re-measurement of defined benefit
plan
2) Other comprehensive income that will not be transferred
subsequently to profit or loss under the equity method
3) Changes in the fair value of the investment in other
equity instruments
4)Changes in the fair value of the Company’s own credit
risk
5)Others
(2) Other comprehensive income items which will be reclassified
-1,154,505.94 -2,321,150.75
subsequently to profit or loss
1) Other comprehensive income that will be transferred
subsequently to profit or loss under the equity method
2)Changes in the fair value of other debt investments
3)Amount of financial assets reclassified and included in
other comprehensive income
4) Credit impairment reserves for other debt investment
5) Cash flow hedging reserve
6) Translation differences arising from translation of
-1,154,505.94 -2,321,150.75
foreign currency financial statements
7)Others
Other comprehensive income attributable to minority shareholders,
-1,115,010.30 -2,230,125.23
net of tax
7. Total comprehensive income 151,032,312.11 149,117,620.40
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HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for the First Quarter 2022
Attributable to shareholders of the Parent Company 152,008,860.92 147,596,392.69
Minority interests -976,548.81 1,521,227.71
8. Earnings per share
(1) Basic earnings per share 0.1498 0.1466
(2) Diluted earnings per share 0.1498 0.1466
Legal representative: Deng Xijun Director of Finance: Sun Zhiqiang Prepared by: Wang Peihua
(3)Consolidated Cash Flow Statement
Unit: Yuan
Item Current period Last period
1. Cash flows from operating activities
Cash received from sales of goods or rendering of services 514,418,145.84 514,143,479.89
Refund of taxes and surcharges 11,829,089.68 20,795,564.90
Other cash receipts relating to operating activities 3,292,892.48 5,390,510.85
Sub-total of cash inflows from operating activities 529,540,128.00 540,329,555.64
Cash paid for goods and services 268,538,637.32 258,417,803.82
Cash paid to employees and paid on behalf of employees 132,880,681.95 113,207,814.04
Payments of taxes and surcharges 51,220,106.86 39,657,300.43
Other cash payments relating to operating activities 20,958,399.06 22,170,593.56
Sub-total of cash outflows from operating activities 473,597,825.19 433,453,511.85
Net cash flows from operating activities 55,942,302.81 106,876,043.79
2. Cash flows from investing activities
Cash received from withdrawing investments 674,630,000.00 685,770,000.00
Cash received from investment income 14,201,242.45 3,985,802.20
Net cash received from disposal of fixed assets, intangible assets and
174.23 12,368.08
other long term assets
Net cash received from disposal of subsidiaries and other operating
units
Other cash receipts relating to investing activities
Sub-total of cash inflows from investing activities 688,831,416.68 689,768,170.28
Cash paid to acquire fixed assets, intangible assets and other
6,454,716.61 7,434,881.12
long-term assets
Cash paid to acquire investments 633,300,000.00 812,200,000.00
Net increase of mortgaged loans
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HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for the First Quarter 2022
Net cash paid to acquire subsidiaries and other operating units
Other cash payments relating to investing activities
Sub-total of cash outflows from investing activities 639,754,716.61 819,634,881.12
Net cash flows from investing activities 49,076,700.07 -129,866,710.84
3. Cash flows from financing activities
Cash received from capital contributions
Thereof: Cash received by subsidiaries from minority shareholders’
capital contributions
Cash received from borrowings 16,130,000.00 9,000,000.00
Other cash receipts from financing activities
Sub-total of cash inflows from financing activities 16,130,000.00 9,000,000.00
Cash repayments of borrowings 26,130,000.00 9,000,000.00
Distribution of dividends or profits and payments for interest
358,457.47 7,834,483.79
expenses
Thereof: Cash payments for dividends or profit to minority
7,350,000.00
shareholders by subsidiaries
Other cash payments relating to financing activities 513,457.48 4,128.12
Sub-total of cash outflows from financing activities 27,001,914.95 16,838,611.91
Net cash flows from financing activities -10,871,914.95 -7,838,611.91
4. Effect of foreign exchange rate changes on cash and cash equivalents -53,449.63 -1,801,957.60
5. Net increase in cash and cash equivalents 94,093,638.30 -32,631,236.56
Add: Cash and cash equivalents at the beginning of period 290,330,558.56 113,464,591.58
6. Cash and cash equivalents at the end of period 384,424,196.86 80,833,355.02
2. Auditor’s report
Whether this First Interim Report has been audited by auditing firm or not?
□Yes √No
The First Interim Report has not been audited by auditing firm.
Board of Directors
HARBIN BOSHI AUTOMATION CO., LTD.
April 28th, 2022
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