HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022
（Abstract）
Ⅰ. Important Notes
This Abstract is extracted from Semi-Annual Report 2022. In order to have a full understanding of the
operating results, financial condition and future development planning of the Company, investors are
suggested to read the full report carefully on the media designated by the China Securities Regulatory
Commission (the “CSRC”). The Company’s 2022 Semi-Annual Report is prepared and published in Chinese
version, and the English version is for reference only. Should there be any inconsistency between the
Chinese version and English version, the Chinese version shall prevail.
All directors attended the Board Meeting in person for reviewing of this Semi-Annual Report.
Indicate by check mark if independent auditor issues non-standard unqualified opinion.
□Applicable √Not applicable
Indicate by check mark if there is a pre-arranged plan of profit distribution or transferring capital reserve into
common stock for the report period which has been reviewed by the Board of Directors.
□Applicable √Not applicable
The Company does not plan to issue cash or equity dividends, nor to convert equity reserve into share capital
of the Company in the mid 2022.
Indicate by check mark if preplan for preferred stocks profit distribution to shareholders for the report period
which has been reviewed and approved by the Board of Directors.
□Applicable √Not applicable
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HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
II. Basic Situation of the Company
1. Company Profile
Stock Abbreviation Boshi Stock Code 002698
Stock Exchange for Stock
Shenzhen Stock Exchange
Listing
Stock abbreviations before the
None
change (if any)
Contact Person and Contact
Secretary of the Board Securities Affairs Representative
Information
Name Chen Bo Zhang Junhui
9 Donghu Street, Concentration Zone of 9 Donghu Street, Concentration Zone of
Contact Address Yingbin Road, Harbin Development Zone, Yingbin Road, Harbin Development Zone,
Heilongjiang province, China Heilongjiang province, China
Tel +86-451-84367021 +86-451-84367021
Email ir@boshi.cn zhangjh@boshi.cn
In order to speed up the planning and implementation of the construction function of the Company’s
regional headquarters and provide convenience for value investment, the Company has set up a “Securities
and Investment Affairs Office” at No. 1102, Building 2, Huijin Building, No. 55, Shangxiang Road, Huaqiao
Economic Development Zone, Kunshan City, Jiangsu Province. Welcome securities investors to inquire
about the further information.
2. Key Financial Data and Financial Indicators
Does the Company need to make retroactive adjustment or restatement of the accounting data of the previous
year.
□Yes √No
Increase/Decrease over the
2022 H1 2021 H1 same period of previous
year
Operating revenue (RMB) 1,028,107,177.93 1,115,555,107.33 -7.84%
Net profit attributable to shareholders of
264,380,786.00 286,687,578.90 -7.78%
the parent company (RMB)
Net profit after deducting non-recurring
profit or loss attributable to shareholders of 247,205,017.04 269,730,624.10 -8.35%
the parent company (RMB)
Net cash flow from operating activities 172,174,009.00 183,443,783.69 -6.14%
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HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
(RMB)
Basic earnings per share (RMB /share) 0.2586 0.2804 -7.77%
Diluted earnings per share (RMB /share) 0.2586 0.2804 -7.77%
Weighted average return on equity 8.69% 10.56% -1.87%
End of the current Increase/Decrease over
End of previous year
reporting period previous year end
Total assets (RMB) 5,227,400,818.77 4,901,945,419.82 6.64%
Total equity attributable to shareholders of
2,931,129,303.88 2,879,793,106.39 1.78%
the parent company (RMB)
3. Number of Shareholders and Shareholding
Unit: Share
Total number of shareholders of Total number of shareholders of
common stocks at the end of the 22,259 preferred stock with resumed voting 0
reporting period right at the end of the reporting period
Top 10 shareholders
Quantity of Pledged or frozen
Quantity of
Name Nature Ownership restricted stocks
stocks
stocks held Status Quantity
Unicom Kaixing Equity Investment
Management (Zhuhai Hengqin)
Limited - Lianchuang Weilai (Wuhan)
Others 17.11% 175,007,500 0
Intelligent Manufacturing Industrial
Investment Partnership (Limited
Partnership)
Deng Xijun Domestic natural person 9.41% 96,181,562 72,136,172
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 0
Investment Management Co. Ltd corporate
Cai Zhihong Domestic natural person 4.96% 50,677,029 0
Cai Hegao Domestic natural person 4.89% 50,000,000 37,500,000
Bank of China Co., Ltd.-China
Merchant Ruiwen Hybrid Securities Others 2.96% 30,295,391 0
Investment Fund
Tan Jianxun Domestic natural person 1.51% 15,432,533 0
Cheng Fang Domestic natural person 1.49% 15,249,238 0
Explanation on the above-mentioned Deng Xijun, Zhang Yuchun, Wang Chungang, and Cai Hegao keep concerted action through
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HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
shareholders’ affiliated relationship or the Concert Action Agreement and jointly control the company at the end of the reporting
concerted action period; Cai Zhihong is the son of Cai Hegao, he independently exercised shareholder rights
based on his personal wishes, he has not signed concerted action agreement or reached a
similar agreement or arrangement with 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 the shareholders that
are engaged in margin trading Not applicable
business
Note: During the reporting period, based on full confidence in the Company’s sustainable and healthy
development and full recognition of the Company’s intrinsic value, Mr. Deng Xijun, the chairman and
general manager of the Company, increased his holdings of the Company’s shares by 975,200 shares
through centralized bidding.
4. Change of the controlling shareholder or the actual controller
Change of the controlling shareholder in the reporting period
□Applicable √Not applicable
The controlling shareholder did not change in the reporting period.
Change of the actual controller in the reporting period
□Applicable √Not applicable
The actual controller did not change in the reporting period.
5. Number of preference shareholders and shareholdings of top 10 of them
□Applicable √Not applicable
The Company had no preference shareholders in the reporting period.
6. Corporate bonds that existed on the date when this Report was authorized for issue
□Applicable √Not applicable
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HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
Ⅲ.Important Issues
Regarding the Company proposes to issue public convertible corporate bonds:
The Company held the fourteenth meeting of the fourth Board of Directors and the eleventh meeting of the
fourth Board of Supervisors on April 13th, 2022, as well as the 2021 Annual General Meeting on May 6th,
2022. The meeting above reviewed and approved Proposal on the Company’s Public Offering of Convertible
Corporate Bonds. The total amount of funds raised by the proposed public issuance of convertible corporate
bonds shall not exceed RMB 450 million.
On August 22nd, 2022, the 94th working meeting of the 18th Issuance Examination Committee of the China
Securities Regulatory Commission in 2022 reviewed the Company’s application for public issuance of
convertible corporate bonds. According to the review results of the meeting, the Company’s application for
the public issuance of convertible corporate bonds has been approved by the China Securities Regulatory
Commission.
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HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
Ⅳ. Operating Performance Discussion and Analysis
1. Company Main Businesses during the Reporting Period
(1) Main businesses and industry development status
Company Business and Industry Development Status
According to the proportion of revenue during the reporting period, the Company’s main businesses in its
industry are shown in the following figure：
The Company has been cultivating in the field of intelligent equipment for a long time, and the high-end
intelligent equipment with independent intellectual property rights has been continuously upgrading for
Chinese Manufacturing. Replacing imported equipment or being the first set of innovative applications,
promote the technological progress of related industries. The Company’s intelligent manufacturing
equipments are applied in petrochemical, chemical, grain, building materials, new energy, food, medicine,
port, fodder in the post-processing intelligent manufacturing field, as well as loading and transferring
scenarios for finished products in many industries, to provide customers with efficient intelligent
manufacturing equipment and intelligent factory overall solutions. The Company’s technology and product
of intelligent equipment are in the leading position in the domestic application field, there is no competitor of
the same scale; The Company products and technology application are in the worldwide leading position in
some fields.
Intelligent Manufacturing Equipment:
“Manufacturing is the main body of the national economy, the foundation of building the country, the
instrument of rejuvenating the country and the foundation of strengthening the country.” Made in China
2025 points out that China’s manufacturing industry has an obvious gap in independent innovation ability,
resource utilization efficiency, industrial structure level, informatization degree, quality and efficiency, and
the task of transformation, upgrading and leapfrog development is urgent and arduous. The State attaches
great importance to the development of high-end equipment manufacturing industry from the strategic height,
and the development of intelligent manufacturing is a strategic task of long-term persistence, which will
accelerate the integrated development of the new generation of information technology and manufacturing
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HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
technology and take intelligent manufacturing as the main direction of the in-depth integration of
informatization and industrialization. China plans that by 2035, digitalization and networking will be
popularized in all manufacturing enterprises above designated size, and key enterprises in key industries will
basically become intelligent. The overall strength of the robot industry has reached the international leading
level, and robots have become an important part of economic development, people’s lives and social
governance.
The Company’s intelligent manufacturing equipment mainly covers post-processing intelligent
manufacturing equipment for solid materials, post-processing intelligent manufacturing equipment for
rubbers, robot and complete system equipment, intelligent logistics and warehousing system, etc., which can
provide customers from single equipment, complete equipment to intelligent manufacturing overall solutions
and can provide customers with continuous intelligent equipment upgrading services, help more
manufacturing enterprises to digital and intelligent transformation and upgrading and towards high-quality
development.
In the face of the historic opportunities of Made in China 2025, 2035 and the urgent demand for intelligent
equipment and intelligent factories in the post-pandemic era, the Company will concentrate on advantages,
integrate resources, accumulate competitiveness, with rich product lines and intelligent manufacturing
overall solutions, to respond and guide market demand, strive to achieve better and rapid development and
bring continuous returns to shareholders.
Industrial Service Rooted in the Intelligent Manufacturing Equipment：
On March 16th, 2021, the National Development and Reform Commission, the Ministry of Science and
Technology, the Ministry of Industry and Information Technology and the like totaling thirteen departments
jointly issued the Opinions on Accelerating the High-quality Development of the Manufacturing Service
Industry, pointing out, “ Improve the efficiency of the manufacturing industry, make use of new generation
information technologies, such as 5G, big data, cloud computing, artificial intelligence and Blockchain,
vigorously to develop intelligent manufacturing, achieve accurate and efficient matching between supply and
demand and promote the fundamental reform of the manufacturing development model and the reform of
enterprise forms.” Manufacturing service industry “is an important support for improving the
competitiveness and comprehensive strength of manufacturing products, promoting the transformation and
upgrading of manufacturing industry and high-quality development. At present, China’s manufacturing
service industry supply quality is not high, the degree of specialization and socialization is not enough, the
role of leading the manufacturing value chain is not obvious, and there is still a gap between the
requirements of building a modern economic system and realizing high-quality economic development.” “By
2025, the role of the manufacturing service industry will be significantly enhanced in improving the quality
and efficiency, innovation capacity, and efficiency of resource allocation, and play a more prominent role in
supporting and leading the high-quality development of the manufacturing industry” to “realize the coupling
and integration of the manufacturing industry and the manufacturing service industry”.
The production and operation management service of the Company’s intelligent equipment includes
integrated industrial services for equipment operation, repair, maintenance, finished products outbound &
inbound, transfer, truck loading and so on. The professional work presents a trend of outsourcing. The
Company takes precautions, relying on the leading technology advantage, and continues to vigorously
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HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
promote the strategy of product and service integration. The professional, economic, high-quality and
efficient service has been recognized and praised by users, and will help customers reduce costs and increase
efficiency and improve production efficiency. The Company’s industrial service revenue has increased year
after year. During the reporting period, the overall revenue of industrial services accounted for nearly 30% of
the Company’s total revenue.
Based on the Company’s outstanding achievements in the integrated development of intelligent
manufacturing equipment and industrial services, the Company was identified as “Pilot Unit of Advanced
Manufacturing and Modern Service Industry” in August 2021 by the National Development and Reform
Commission. The Company’s industrial services of intelligent equipment, on the one hand, will maintain a
steady growth with the growth of product sales and equipment implement stock. On the other hand, this will
give an active response to the customer’s deep service demand, after the Company undertakes new
production and operation industrial service projects, the service scale is expected to continue to step up. This
will enhance the Company’s ability to resist risks and become an important source of revenue and profit for
the Company.
Environmental Protection Process and Equipment:
The 14th Five-Year Plan takes “achieving new progress in ecological civilization construction” as one of the
main goals. Continuing to improve environmental quality and promoting the all-round green transformation
of economic and social development provides important development opportunities for the field of
environmental protection. Current climate change that seriously threatens human survival and development
is mainly caused by carbon dioxide emissions from human activities since the industrial revolution. At the
75th United Nations General Assembly in 2020, China announced that it will strive to achieve “Carbon Peak”
by 2030 and strive to achieve “Carbon Neutrality” by 2060, in the Government Work Report of the Fourth
Session of the 13th National People’s Congress, it is clearly proposed to “Do a solid job in Carbon Peak and
Carbon Neutrality”, and relevant industries are facing major opportunities.
Industrial waste acid and acidic gas treatment and recycling project, implemented by Harbin Boao
Environmental Technology Co., Ltd, the holding subsidiary of the Company, can collect and treat industrial
waste sulfuric acid and sulfur-containing acid gases in chemical production to produce high-purity sulfuric
acid for recycling production, and to recycle and reuse the heat energy released in the process to achieve
energy saving, emission reduction, recycling, environmental protection and economic results, that it will
contribute customers to achieve “Carbon Peak” , “Carbon Neutrality” emission reduction targets.
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HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
(2) Company Main Businesses during the Reporting Period
①Main businesses, products, services composition and market application level of the Company
Overall Solution for Intelligent Manufacturing Equipment and Intelligent Factory
Post-processing Intelligent Manufacturing Post-processing Intelligent Manufacturing
Equipment for Solid Material Equipment for Rubber
It is applied in the post-processing fields for the It is intelligent equipment and intelligent plant
powder, granular materials or irregular materials of overall solution, applied in production process of
petrochemical, chemical, cereals, building synthetic rubber and natural rubber and in the
materials, new energy, food, medicine, ports, feed, fields of product refining process, dewatering and
etc. (such as crushing, screening, bagging, boxing drying process (rubber washing, cleaning and
of reduced silicon rods, etc.), providing efficient impurity removal, dewatering, crushing and
automatic weighing, packaging and palletizing drying, etc.) and finished product packaging
intelligent manufacturing and production process (weighing, baling, detecting, conveying,
equipment and overall solutions of smart factories packaging and palletizing, etc.)
In the field of post-processing high-end equipment
for powder and granular materials in China it has
obvious advantages and a stable competitive Complete product line, covering natural rubber and
position. In the field of post-processing high-end synthetic rubber
equipment for the irregular polysilicon materials, the It is the only enterprise which can provide
outstanding competitive advantage has promoted complete large-scale systems worldwide
the upgrade of intelligent manufacturing in the
industry.
Robot and Complete System Intelligent Logistics,Warehousing Systems
Connecting solid material post-processing
(High temperature) Operation robot for submerged intelligent manufacturing equipment with rubber
arc furnace and complete system solutions are post-processing intelligent manufacturing
applied for high-risk working environment as well equipment to realize intelligent identification,
as other special robots and complete system outbound and inbound warehousing management,
solutions which can replace high-risk, harsh logistics transshipment, fully Automatic Vehicle
working conditions, and heavy manual labor. Loading, etc., to help customers to build smart
factory overall solutions, and Widely used in
different application scenarios of national
economy and multiple industries.
(High temperature) Operation robot for
Submerged Arc Furnace and its surrounding
systems are in leading position worldwide in the Automatic Loading machine has first-mover
field of calcium carbide, Take the lead in starting advantage, the market responds positively and the
and implementing the overall solution of calcium large-scale application has big potential.
carbide thermal furnace intelligent factory in China
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HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
Industrial Services
The industrial services, rooted in the above-mentioned related fields of intelligent
manufacturing equipment, are mainly integrated service, equipment maintenance and spare
parts sales which facing the operation in the application fields of intelligent manufacturing
equipment, after-sales industrial service, and supplementary industrial service.
Holdingtechnicalgeneticadvantages,leadingservicecapabilitiesandscaleinthefield
Energy saving, emission reduction and environmental protection process
equipment field
Industrial waste sulfuric acid,
sulfur-containing acid gas
Collection → Catalysis →
Heat exchange → Purification
High-purity sulfuric acid
used for recycling
production
Harbin Boao Environmental Technology Co.,Ltd is currently mainly engaged in the design,
production, and sales of energy-saving, emission-reduction and environmental protection process
equipment which is represented by industrial waste acid regeneration process and equipment.
Industrial waste acid regeneration technology and equipment collect and process industrial waste
sulfuric acid and sulfur-containing acid gas which are produced in the customer’s chemical
production to generate high-purity sulfuric acid for recycling production, and release heat energy
for recycling and reusing, realizing the effects of energy saving and emission-reduction, recycling
uses, economy and environment protection and help to achieve carbon peak and carbon neutral
emission reduction targets.
Based on advanced technology mainly applied to the domestic high-end
market, help customer to realize the effects of energy saving and
emission-reduction, recycling uses, economy and environment protection.
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HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
②Business mode
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HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
Industrial Services——Operation and After-sales type Industrial Services
By participating in bidding or negotiating bids, the Company signs integrated service, equipment
maintenance service agreements with users (which may include FFS film rolls sales matching with
production services), equipment maintenance, operation maintenance and the like to determine the
contents and modes of services;
For the performance obligations of the service contract performed within a certain period of time, the
Company shall recognize the revenue according to the performance progress within the period of time;
The sales mode of spare parts is flexible (the Company initiates stocking or the customer initiates
procurement), and the operating revenue is confirmed based on the actual delivery of the product and the
time when the revenue confirmation conditions are met
Industrial Services——Supplementary Industrial Services and Miscellaneous
FFS Film roll production enterprise matching
with industrial services (Nanjing Green New
Material Co., Ltd., Company’s holding
subsidiary) separately sells FFS film rolls,
plastic auxiliaries and the like apart from the
Company’s production and operation services;
Other kinds with small revenue are not
classified as material.
Revenue recognition: Usually as per the
contract signed with customer, implement the
contract and meet the revenue conditions, then
confirm the operating revenue.
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HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
③Key performance driving factors
Since 2017, the Company performance has grown well and rapidly, mainly due to the Company is facing the
strong demand for intelligent manufacturing equipment for the upgrading of China’s manufacturing industry.
The Company implements technology research and development and product innovation actively, as well as
realizes product category expansions. The sales growth of post-processing intelligent manufacturing
equipment for solid material is strong; Contracts from robots and complete system equipment quickly
occupies an important share; The growth of industrial services keeps steadily; Energy saving and
environmental protection business brings beneficial supplement to the Company’s overall revenue.
During the reporting period, from the perspective of product delivery and revenue recognition, the revenue of
environmental protection process and equipment falls obviously year-on-year, because there is no equipment
revenue recognition, only the revenue of process design package and spare parts are recognized; Affected by
staged silent period and strict epidemic control measures, the Company’s supply chain, production
organization and product delivery are impacted in different degrees. Product delivery of intelligent
manufacturing equipment business is lower than expected, whose revenue is slightly decreased, the gross
profit of this kind is basically equal to which of the same period of last year; Although the industrial service
business keeps on maintaining steady growth, the overall short-term performance is adjusted slightly; During
the reporting period, the demand for irregular material intelligent manufacturing equipment products
represented by the intelligent workshop of calcium carbide thermal furnace and new energy raw materials is
strong. From perspective of overall marketing work, the year-on-year growth rate and total volume are the
best in history, which deserves more expectations in the future.
Technological innovation and the continuous R&D, application and promotion of new products have realized
“the second curve” to promote the Company to extend growth period. The Company’s intelligent
manufacturing equipment has experienced a continuous technological innovation and the expansion process
of continuous application of new technology and new products. At present, the company has made a progress
in switching from a single machine, automatic production line to the digital factory and intelligent factory in
the main product application field, which optimizing the business competition environment faced by the
Company, and improving comprehensive competitiveness continuously.
2.Core Competitiveness Analysis
As a technology-based enterprise, the Company adheres to a differentiated competitive strategy of leading
technology, and relies on a deep understanding of China’s industrial automation field and practical
experience in industrial applications to maintain a long-term competitive position in the field in which it is
engaged. The Company’s intelligent manufacturing equipment and industrial service businesses are
effectively synergized and optimally linked, supplemented beneficially by environmental protection process
equipment. The business scale is growing rapidly, the profitability and the comprehensive competitiveness
continue to improve.
(1)Industry status
The Company has a solid competitive advantage in the field of intelligent manufacturing equipment, and its
main product and technology has been playing a leading role for a long time in the domestic product
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HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
application field, and has received a number of industry awards.
Memberof
ChinaRobot
TOP10Summit
NationalPilotunitfor
IntegratedDevelopment NationalEnterprise
ofAdvanced
Manufacturingand TechnologyCenter
Modernserviceindustry
Complete
Leading Fivestarbrand
Enterprisein
intelligent certificationof
Segmentation manufacturing BSCC
field equipment
Five‐starstandard
Top500ofChina certificationof
NewEconomy NECASnational
enterprise productafter‐sales
Certificationofthe
integrationof
informatizationand
industrialization
managementsystem
(2)Leading competitiveness of products and technologies
Innovation is the first driving force to lead the development of an enterprise and technology-leading is an
important core competitiveness of the Company. The Company continuously improves its technology
application level and technology reserve capacity, seizes new opportunities, and expands into new fields.
Through R&D investment, technology accumulation and technological innovation, outstanding technological
leadership advantage continues to enhance and be a competitive advantage position in the industry.
From the perspective of intelligent manufacturing equipment product line, the Company’s intelligent
equipment reaches high speed, high accuracy and stable operation, which is high-end equipments can a
replace imported equipments, suitable for the customer production environment with high efficiency and
safety production requirements, mainly for high-end equipment market demand. In the domestic product
application field, products and technology are at the leading level.
From the perspective of the overall solution of intelligent manufacturing, the Company integrates
multi-category innovative products with the production scenario of manufacturing users, which can realize
the overall solution of solid materials post-processing intelligent manufacturing, help users realize the digital
and intelligent transformation of the factory, and realize intelligent manufacturing.
On March 24th, 2022, the Company received a notice from the High-tech Research and Development Center
of the Ministry of Science and Technology on the comprehensive performance evaluation conclusion of the
research and development and demonstration application project of sub-merged arc furnace robot system for
calcium carbide under the national key research and development program. The comprehensive performance
evaluation conclusion of the research and development and demonstration application project of sub-merged
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HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
arc furnace robot system for calcium carbide led by the Company was passed, with a score of 92.4 (Grade A)
and the performance level is excellent. Being able to undertake “National Key Research and Development
Projects” is the national recognition of the Company’s technological innovation strength; The Company has
passed the project acceptance with excellent results, which is the verification and interpretation of its own
scientific and technological innovation ability. In the field of calcium carbide smelting operation, with the
Company’s large-scale application of calcium carbide smelting operation robot to replace the manual
operation under high-risk and heavy working conditions, it has realized the long-cherished wish and
responsibility of transforming traditional industries with high-technology. Currently, the Company actively
implement overall solution of intelligent factories in the field of calcium carbide sub-merged arc furnace, has
respectively signed contracts of calcium carbide post-processing intelligent factories with Inner Mongolia
Jun Zheng Chemical Co., Ltd., and Ningxia Younglight Chemical Co., Ltd during reporting period,
amounted to RMB 360 million in total, in this field, the Company is in the leading level in the application all
over the world.
(3)Performance-driven dual engines of “intelligent equipment” + “industrial service”
The Company fully integrates product application advantage, technological leading advantage and industrial
service, actively promotes the strategy of products and service integration and service business achieves
rapid development. The Company’s professional, high-quality, efficient and advanced industrial service
model is the necessary guarantee for customers’ continuous production and operation, stable and efficient
production, and achieves a win-win situation for the Company and Customers.
Stableservice
revenue， smooth
productsales
fluctuations
Graspcustomer’s
Productsalesdrive productdemand
moredemandfor
informationthrough
industrialservices services
Intelligent
Equipment+
Industrial
Mutualpromotionto Service Industrialservice
formamoatof advantagespromote
competitive companyproduct
advantage sales
Connectwith
customermoretightly
Legend: Schematic diagram, the positive interaction between intelligent equipment and industrial service
In August 2021, the Company was identified by the National Development and Reform Commission as the
National “Pilot Unit for Advanced Manufacturing Integrated Development and Modern Service Industry”,
becoming one of the few leading enterprises of “Two Industries Integration” in the country. This award is
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HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
a recognition and incentive for the Company to develop the “Product and Service Integration” strategy
prospectively and actively implement this strategy for a long time. During the reporting period, the
Company’s industrial services achieved revenue of RMB 302 million, among which the operation and
after-sales Industrial Services achieved revenue of RMB 255 million, 13.43% stable increase year-on-year.
“Intelligent equipment”+ “industrial services” constitute a performance-driven dual engine for the
Company.
(4)The overall solution of intelligent manufacturing accelerates the Company’s competitiveness
Throughout the Company’s technology, product development and industrialization process, the Company
enters new industries and new fields usually with key single unit equipment (“points”); after breakthrough
in solving industry pain points, quickly form an automated production line (“line”); With the accumulation
of technology and the in-depth understanding of the industry, the overall solution (“surface”) of intelligent
manufacturing is completed to help users realize the upgrade to digital and intelligent factories. This process
of technological progress from “point → line → surface” helps the Company to concentrate resources,
reduce technology development risks, open the ceiling for industry growth, and comprehensively enhance
the Company’s core competitiveness.
As shown in the figure below：
Single unit sales (“point”), it is inevitable to face large competition, small market space, and the project
potential contract amount is limited;
The complete equipment sales (“line”), the competitive environment improves, the competitive pressure
decreases, the market space increases, and the potential contract amount is effectively enlarged;
The overall solution of intelligent manufacturing (“surface”), limited competitors, strong competitiveness,
market space and potential contract amount is expected to multiply.
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HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
Legend: Schematic diagram of the competitive environment and potential market opportunities of single unit
equipment, automation production line and overall solution of intelligent manufacturing
For example: in the field of sub-merged arc furnace, the urgent demand for safety production and replacing
labors for calcium carbide industry, based on the industrial robot technology, the Company successfully
developed and applied sub-merged (high temperature) arc furnace operation robot for calcium carbide
which has epoch-making significance to traditional production (“point”), and successively developed
ramming robot for calcium carbide, patrolling robot, intelligent pot transfer technology and other key
production system (“line”), until forming science and technology innovation ability of an intelligent
workshop overall solution that truly subverts the traditional production operations of the industry (“surface”),
realizing few men, unmanned factories and intelligent manufacturing.
On April 7th and April 19th, 2022, the Company announced that the Company signed contracts with Inner
Mongolia Junzheng Chemical Co., Ltd. and Ningxia Younglight Chemicals Co., Ltd. respectively on calcium
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HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
carbide post-processing intelligent factory and calcium carbide intelligent workshop. The contract amount is
RMB 291.1432 million and RMB 69.628 million respectively, 360.7712 million in total. These two projects
are the overall intelligent factory projects of the Company’s high-temperature special robots as the main
equipment application in the field of calcium carbide production, and the market demand of robot and
intelligent factory industrialization projects is in the rise. The technology, product R&D and industrialization
process from “point”, “line” to “surface” have opened the ceiling of the industry growth, and truly realized
the historic leap from “0” to “1”. In this field, the Company is in the leading level in the application all over
the world.
With the Company’s leading technological advantage in the field of calcium carbide sub-merged arc furnace,
the Company continues to develop the application of high temperature special robots in the high temperature
furnace operation environment of industrial silicon furnace, silicon manganese, ferrosilicon, etc., committed
to multi-dimensional technological innovation and breakthrough, and has successively achieved phased
results.
(5)Brand competitiveness
The Company builds brand with quality, seeks progress with technology, and wins trust with service.
Through high-quality products and efficient services, we strive to realize production automation and
intelligent manufacturing for customers and achieve win-win cooperation. The Company’s brand enjoys a
constant leading in popularity, high reputation and customer loyalty in the main domestic product application
fields. The Company pursues excellence, leads the development of intelligent equipment in the application
industry and builds up a stable, cooperative and win-win customer network for a long time. At the same time,
high-quality customer resources and huge potential demand for intelligent manufacturing equipment is the
source of the Company’s sustainable and rapid development.
(6)Achievements in intellectual property, proprietary technology and software copyright
During the reporting period, the Company obtained 16 patents approved by the State Intellectual Property
Office, including 5 invention patents and 11 utility model patents; 15 software copyrights are approved by
the National Copyright Administration. In addition to patent technology, the Company has a considerable
amount of core technical know-how that exists in the form of proprietary technology by relying on
confidentiality measures. The patents, proprietary technology and software copyright owned and mastered by
the Company is the Company’s significant core competitiveness. (Note: The amount of intellectual property
acquired during the reporting period may have a slight deviation due to the limitation of statistical time
points, and is only for investors’ trend reference.)
(7)Social and economic benefits
The transformation of traditional industries with high technology is the responsibility and mission given to
technological innovation enterprises by the era. The Company’s automatic vehicle loading machine which is
widely used in the national economy field and (high temperature) overall solution of intelligent
manufacturing in the calcium carbide industry have transformative impact on replacing manual operations in
high-risk or heavy manual working conditions to achieve safe production, improve production efficiency.
Meanwhile, standardized intelligent equipment operations improve the capacity utilization rate, enhance the
18
HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
enterprise efficiency significantly, and support the early realization of the national double carbon goal.
The Company’s large-scale intelligent manufacturing equipment and intelligent factory technology can
provide one-stop solution to save more resources and realize safe and efficient production for the customers,
fundamentally solve the problem of structural labor gap for customers and promote the improvement of
social production efficiency. The application of these high-tech products not only achieves good social
benefits, but also brings considerable economic benefits to the Company at the same time.
3. Analysis of Main Business
Overview
During the reporting period, there is strong market demand in the application of the Company’s intelligent
manufacturing equipment, the Company’s marketing work has achieved best performance in both
year-on-year growth and total volume in history. In which represented by irregular solid materials intelligent
manufacturing equipment in the field of polysilicon of new energy raw material, and robot and complete
system equipment in the field of sub-merged arc furnace intelligent factory, etc., continue to achieve major
market progress. During the reporting period, the Company’s total major contract amount announced in the
temporary announcement exceeded 900 million, which led the Company’s future performance growth.
During the reporting period, from the perspective of product delivery and revenue recognition, the revenue of
environmental protection process fell by nearly 70% year-on-year, because there was no equipment revenue
recognition, only the revenue of process design package and spare parts were recognized, which the
year-on-year change decreased the Company’s overall gross profit by about 10% during the reporting period.
In addition, affected by staged silent period and strict epidemic control measures, the Company’s supply
chain, production organization and product delivery were impacted in different degrees. The supply chain
inventory of the Company from Shanghai and surrounding areas was in shortage, once 10% employees of the
headquarters were quarantined at home, theses reasons led to product delivery of intelligent manufacturing
equipment business was lower than expected, revenue is slightly decreased, but gross profit rate is increased,
the overall contribution of intelligent manufacturing equipment gross margin is basically the same as the
same period last year. The Company’s operation and after-sales industrial service revenue continues to
maintain a steady growth rate of 13.43%, and the gross profit rate is stable. The total revenue of “intelligent
manufacturing equipment” + “industrial services” decreased slightly year-on year, and the contribution gross
profit increased slightly, both fluctuated slightly within the range of about 1 %.
During the reporting period, the Company achieved revenue of RMB 1.028 billion, net profit attributable to
the parent company is RMB 264 million, decreases by 7.84% and 7.78% year-on-year respectively, the
weighted average return on equity (ROE) is 8.69%. From the perspective of revenue distribution, the
Company’s revenue and contribution gross profit ratio structure of intelligent manufacturing equipment,
industrial services, environmental protection process equipment are shown in the figure below.
19
HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
OperatingRevenue ContributionGrossProfit
(RMB0.1billion) (RMB0.1billion)
Note: in the above figure, Contributing Gross profit= Operating revenue of corresponding business – Operating cost, the contribution
gross profit does not consider the impact of profit and loss of minority shareholders.
During the reporting period, the key accounting data and financial indicators are listed as follows:
Unit: RMB
Increase/Decrease over the
Items 2022 H1 2021 H1
same period of previous year
Operating revenue 1,028,107,177.93 1,115,555,107.33 -7.84%
Operating profit 301,362,046.11 351,039,945.53 -14.15%
Total profit 301,326,741.76 350,867,770.00 -14.12%
Net profit 263,794,610.93 300,450,682.85 -12.20%
Thereof:
264,380,786.00 286,687,578.90 -7.78%
Attributable to shareholders of the parent company
Year-on-year changes to major financial data
Unit: RMB
Increase/Decrease
2022 H1 2021 H1 over the same period Rationale
of previous year
Due to the decrease in the revenue of
environmental process and complete
Operating revenue 1,028,107,177.93 1,115,555,107.33 -7.84%
equipment from subsidiary Boao
Environment.
Cost of sales 634,720,902.68 686,843,468.37 -7.59%
20
HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
Selling and
36,480,990.88 39,766,634.19 -8.26%
distribution expenses
General and Due to the increases in the expenses
administrative 56,426,605.54 49,958,002.37 12.95% from new entities consolidated and
expenses salary expenses.
Due to the increase of the interest
Finance expenses -3,572,253.22 266,085.36 -1,442.52% income of the agreement deposit in
the current period.
Mainly due to the losses of
environmental process and complete
Income tax expenses 37,532,130.83 50,417,087.15 -25.56% equipment from subsidiary Boao
Environment. No significant changes
in the parent company.
Research and Due to the increase in the amount of
39,782,927.29 33,299,584.34 19.47%
development expenses R&D staff.
Net cash flows from
172,174,009.00 183,443,783.69 -6.14%
operating activities
Net cash flows from Mainly due to the impact of cash
380,878,114.11 368,031,503.33 3.49%
investing activities management activities.
Net cash flows from Mainly due to the effect on
-260,595,886.83 -219,789,445.67 -18.57%
financing activities distribution of cash dividends.
Net increase in cash
293,378,688.55 329,224,058.91 -10.89%
and cash equivalents
Major changes to the profit structure or sources of the company in the reporting period:
□Applicable √ Not applicable
No such cases in the reporting period.
Breakdown of operating revenue:
Unit: RMB
2022H1 2021H1 Increase/Decrease
over the same
Proportion of Proportion of
Amount Amount period of previous
revenue revenue
year
Total 1,028,107,177.93 100% 1,115,555,107.33 100% -7.84%
Categorized by industry
Intelligent manufacturing
694,055,868.46 67.51% 727,303,592.98 65.20% -4.57%
equipment
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HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
Industrial service 301,525,664.05 29.33% 282,054,413.57 25.28% 6.90%
Environmental protection process
32,525,645.42 3.16% 106,197,100.78 9.52% -69.37%
and equipment
Categorized by product
Post-processing intelligent
manufacturing equipment for 489,678,686.79 47.63% 628,607,058.25 56.36% -22.10%
solid material
Robots and complete system
125,712,389.30 12.23% 31,549,557.52 2.83% 298.46%
equipment
Post-processing intelligent
manufacturing equipment for 67,744,438.39 6.59% 62,722,198.45 5.62% 8.01%
rubber
Intelligent logistics, warehousing
10,920,353.98 1.06% 4,424,778.76 0.40% 146.80%
systems
Operation and after-sales type
254,633,155.67 24.77% 224,485,684.42 20.12% 13.43%
industrial services
Supplementary industrial
46,892,508.38 4.56% 57,568,729.15 5.15% -18.55%
services and others
Environmental process and
32,525,645.42 3.16% 106,197,100.78 9.52% -69.37%
complete equipment
Categorized by region
Region of east China 392,598,500.16 38.20% 335,550,526.31 30.08% 17.00%
Region of south China 76,739,224.97 7.46% 46,834,576.23 4.20% 63.85%
Region of central China 27,735,596.67 2.70% 136,168,523.27 12.21% -79.63%
Region of north China 203,700,091.71 19.81% 149,224,058.26 13.38% 36.51%
Region of northwest China 236,289,323.31 22.98% 225,170,155.78 20.18% 4.94%
Region of southwest China 40,109,948.16 3.90% 50,480,350.28 4.53% -20.54%
Region of northeast China 43,021,150.98 4.18% 117,687,257.53 10.55% -63.44%
Overseas 7,913,341.97 0.77% 54,439,659.67 4.87% -85.46%
Industries, products, or regions accounting for more than 10% of company revenue or operating profit
Unit: RMB
Operating Cost of sales Gross profit
revenue increased or margin
Operating Gross profit
Cost of sales increase/ decreased over increased or
revenue margin
decrease over the same period decreased over
the same period of previous year the same period
22
HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
of previous year of previous year
Categorized by industry
Intelligent manufacturing
694,055,868.46 411,036,362.32 40.78% -4.57% -6.74% 1.38%
equipment
Industrial service 301,525,664.05 215,231,974.79 28.62% 6.90% 6.76% 0.10%
Environmental protection
32,525,645.42 8,452,565.57 74.01% -69.37% -81.00% 15.90%
process and equipment
Categorized by product
Post-processing intelligent
manufacturing equipment for 489,678,686.79 300,133,002.93 38.71% -22.10% -21.18% -0.71%
solid material
Robots and complete system
125,712,389.30 64,458,558.32 48.73% 298.46% 272.97% 3.51%
equipment
Post-processing intelligent
manufacturing equipment for 67,744,438.39 37,277,111.04 44.97% 8.01% -5.74% 8.02%
rubber
Intelligent logistics,
10,920,353.98 9,167,690.03 16.05% 146.80% 193.58% -13.38%
warehousing systems
Operation and after-sales type
254,633,155.67 174,766,196.45 31.37% 13.43% 13.90% -0.28%
industrial services
Supplementary industrial
46,892,508.38 40,465,778.34 13.71% -18.55% -15.98% -2.63%
services and others
Environmental process and
32,525,645.42 8,452,565.57 74.01% -69.37% -81.00% 15.90%
complete equipment
Categorized by region
Region of east China 392,598,500.16 240,436,816.44 38.76% 17.00% 22.08% -2.54%
Region of south China 76,739,224.97 43,702,547.07 43.05% 63.85% 54.53% 3.43%
Region of central China 27,735,596.67 14,215,123.55 48.75% -79.63% -78.94% -1.69%
Region of north China 203,700,091.71 118,209,028.81 41.97% 36.51% 40.11% -1.49%
Region of northwest China 236,289,323.31 162,826,683.54 31.09% 4.94% -7.27% 9.07%
Region of southwest China 40,109,948.16 23,982,898.48 40.21% -20.54% -39.74% 19.05%
Region of northeast China 43,021,150.98 25,455,263.00 40.83% -63.44% -58.89% -6.56%
Overseas 7,913,341.97 5,892,541.79 25.54% -85.46% -81.84% -14.86%
Where the Company’s statistical criteria for core business data are adjusted during the reporting period, the
core business data for the most recent year have been adjusted based on the statistical criteria effective as of
the end of the reporting period.
23
HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
□Applicable √Not applicable
During the reporting period, the reasons of operating revenue and gross profit rate change are as follows:
Intelligent manufacturing equipment: Affected by the phased strict pandemic control measures, the product
delivery of intelligent manufacturing equipment business was lower than expected, and the revenue fell by
4.57% year-on-year, but the gross profit margin increased by 1.38%, to 40.78%, and the overall gross profit
is basically the same as the same period last year. “Solid material post-processing intelligent manufacturing
equipment” product delivery was the most affected, revenue fell 22.10% year-on-year; The revenue of “robot
and complete system equipment” and “intelligent logistics and warehousing system”, were as expected in the
2021 Annual report, achieved a substantial growth of 298.46% and 146.80% respectively; The gross profit
margin of “robot and complete system equipment” increased by 3.51% year-on-year to 48.73%, product
competitiveness is outstanding; Affected by individual projects, the gross profit margin level of “intelligent
logistics and storage system” is low, it is expected to have more than RMB 50 million of revenue scale this
year, the gross profit will be better improved; The revenue of “rubber post-processing intelligent
manufacturing equipment” increased slightly year-on-year, gross profit margin increased by 8.02% to
44.97%, revenue and profit of this kind are both increased.
Industrial service: The revenue of operation and after-sales industrial services increased by 13.43%, keeping
a stable growth continuously, and the gross margin level remained basically stable; “Supplementary
industrial services and others” was mainly the attached business of industrial service business, apart from
operating and after-sales industrial service, the independent sales of FFS file rolls, plastic additives and other
businesses accounted for less than 5%, the profitability is low, and the revenue fluctuation of which is not
important to the Company.
Environmental protection process and equipment: During the reporting period, the revenue of environmental
protection process fell by nearly 70% year-on-year, because there is no equipment revenue recognition, only
the revenue of process design package and spare parts are recognized, the revenue for the whole year is
expected to be about RMB 100 million, the strong profitability in process design package will lead the
overall gross profit margin of the whole business to a higher level.
From the region perspective, based on the Company’s business model, the operating revenue usually varies
from period to period, which is mainly affected by demand fluctuations from region to region and structural
changes of product demand, as well as Company response demands, completion of product delivery and
acceptance progress, etc. It is not a typical fluctuation of gross profit rate divided by region, please refer to
explanation of operating revenue and gross profit rate changes for details.
4. Analysis of Non-Core Businesses
□Applicable √Not applicable
24
HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
5. Analysis of Assets and Liabilities
(1) Significant Changes in Asset Composition
Unit: RMB
End of current reporting period End of previous year Increase/
Proportion of Proportion of Decrease in Major changes
Amount Amount
total asset total asset proportion
Cash at bank and on Due to the increase in ending
586,641,082.15 11.22% 293,516,532.24 5.99% 5.23%
hand balance of bank deposits.
Accounts receivable 796,142,735.50 15.23% 686,517,240.24 14.00% 1.23%
Due to the increase in amount
Contract assets 100,777,680.67 1.93% 65,959,231.77 1.35% 0.58%
of product warranty.
Due to increases in orders and
Inventories 1,735,576,206.21 33.20% 1,634,635,126.78 33.35% -0.15%
production tasks.
Investment properties 6,569,555.02 0.13% 6,765,974.62 0.14% -0.01%
Profit and loss and equities
Long-term equity
399,111,694.59 7.63% 368,931,927.57 7.53% 0.10% fluctuate of investment
investments
companies.
Fixed assets 216,527,641.00 4.14% 227,527,890.89 4.64% -0.50%
Due to the investment in the
Construction in
804,726.79 0.02% 0.02% construction in the preliminary
progress
stage.
Due to the increase in
right-of-use asset (the lease of
Right-of-use assets 3,265,214.42 0.06% 1,536,107.89 0.03% 0.03%
factory) of subsidiary Boshi
Intelligence.
Transfer from discounted bank
Short-term
36,830,000.00 0.70% 25,130,000.00 0.51% 0.19% acceptance is not terminated
borrowings
for confirmation.
Prepayments from customers
Contract liabilities 1,421,666,398.09 27.20% 1,183,763,174.21 24.15% 3.05% whose revenue is not
recognized grow faster.
The increase in right-of-use
asset of subsidiary Boshi
Lease liabilities 565,180.40 0.01% 364,078.19 0.01% 0.00%
Intelligence leads to the
increase in lease liabilities.
(2) Major Assets Overseas
√Applicable □Not applicable
25
HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
Measures In the
Operating taken to Company’s Any major impairment
Types of asset Nature Value Location Earnings
mode protect asset net assets risk or not
safety (%)
RMB: Design, RMB:
Equity Not
Equity assets 271.2595 Graz, Austria manufacture -6.14 8.76% No
acquisition applicable
million and sales million
(3) Assets and liabilities measured at fair value
√Applicable □Not applicable
Unit: RMB
Profit or loss
Cumulative fair Amount
from change in
Opening value change provided for Purchased in the Sold in the Other Closing
Item fair value
balance charged to impairment period period changes balance
during the
equity in the period
period
Financial
assets
Financial asset
held for
trading
845,595,470.49 693,391.19 3,698,861.68 1,058,410,000.00 1,348,880,000.00 555,818,861.68
(excluding
derivative
financial )）
Investments in
other equity 54,843,027.56 54,843,027.56
instruments
Sub-total of
900,438,498.05 693,391.19 3,698,861.68 1,058,410,000.00 1,348,880,000.00 610,661,889.24
the above
Financial
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
liabilities
Note: the financial asset held for trading above-mentioned are currency fund and guaranteed bank
structural deposits etc., for cash management of unused self-owned capital, based on the resolution of
the Board of Directors and the Board of Shareholders.
Whether there were any material changes on the measurement attributes of major assets of the company
during the reporting period
26
HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
□ Yes √ No
(4)Restricted asset rights as of the end of this Reporting Period
Item Book value at the end of period（RMB） Limitation reason
Cash at bank and on hand 6,800.00 Minimum deposit of ETC toll bank account
Bank deposit on letter of guarantee
Cash at bank and on hand 1,085,035.04
(holding subsidiary Boao Environment)
Bank deposit on letter of guarantee
Cash at bank and on hand 1,840,000.00
(wholly controlled subsidiary Boshi Intelligence)
Bank credit mortgage
Buildings 12,576,294.06
(holding subsidiary Boao Environment)
Mortgage of bank loans
Buildings 14,464,391.27
(holding subsidiary Nanjing Green)
Mortgage of bank loans
Land use rights 4,022,235.46
(holding subsidiary Nanjing Green)
Total 33,994,755.83
6. Investment Made
(1)Total investment amount
√Applicable □Not applicable
Total investment amount of the Total investment amount of the same
Change
Reporting Period (RMB) period of last year (RMB)
399,111,694.59 350,697,138.40 13.81%
The investments above are all investments made by the Company in associates or joint ventures.
(2)Significant equity investment made in the reporting period
□Applicable √Not applicable
(3)Significant non-equity investments ongoing in the reporting period
□Applicable √Not applicable
(4)Financial investments
①Securities investments
27
HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
□Applicable √Not applicable
No such cases in the reporting period.
②Derivatives investments
□Applicable √Not applicable
No such cases in the reporting period.
(5) Use of Raised Funds
□ Applicable √Not applicable
No such cases in the reporting period.
(6)Related investment progress
①Investment in high-end medical diagnosis and treatment equipment
Celiac minimally invasive surgical robot: The celiac minimally invasive surgical robot project of Harbin Si
Zhe Rui Smart Medical Equipment Co., Ltd., which is invested and participated by the Company, currently
holds 13.46% of its equity. Electric endoscopic needle forceps (name of registration certificate) has been
approved in January, 2021 for medical device registration certificate issued by the State Drug Administration,
and the intended use is ureterolithotomy; The intraperitoneal endoscopic surgical system (name of
registration certificate) has obtained medical device registration certificate issued by the State Drug
Administration in June, 2022.
Image-guided radiotherapy precise positioning: The image-guided radiotherapy precise positioning project of
Jiangsu Rayer Medical Technology Co., Ltd., invested by the Company, currently holds its 15.40% equity.
The project obtained the registration certificate of IGPS-O, IGPS-V image-guided radiotherapy positioning
system issued by the State Food and Drug Administration in March 2016. In February 2020, the Optical
Guidance Tracking System (OGTS) has obtained medical device registration certificate issued by the State
Drug Administration
Remote assisted minimally invasive pedicle implantation robot: the remote assisted minimally invasive
pedicle implantation robot project of Suzhou Zoezen Robot Co., Ltd., invested and participated by Suzhou
HIT-Boshi Medical Equipment Co., Ltd., a wholly-owned subsidiary of the Company, currently, the
Company holds 7.18% of its equity. The main R&D product of the project, Navigation and positioning
equipment for spinal surgery has obtained medical device registration certificate issued by the State Drug
Administration in February, 2022.
The field of high-end medical diagnosis and treatment equipment project is characterized by long
research and development cycle, high barriers to enter, long product registration cycle, and big
clinical risks. There are many risk factors that cannot be determined during type testing and clinical
28
HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
trials. For the registered projects, there is also a risk whether the promotion and industrialization can
meet the expectation. Hereby, investors are advised to carefully evaluate the relevant risk factors.
②Progress of the robot equity investment fund
In 2015, the Company participated in the establishment of Dongguan Boshi Ruidexin Robot Equity
Investment Fund, and established Dongguan Boshi Ruidexin Robot Equity Investment Center (limited
partnership). The total investment of Boshi was RMB 60 million, accounting for 30% of the subscribed
investment of the fund. By the end of the reporting period, Boshi had received RMB 48.72 million of project
investment returns and profit distribution, the earnings are good.
7. 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
8. Analysis of Major Subsidiaries
□Applicable √Not applicable
During the reporting period, the Company has no important holding company information that should be
disclosed.
9. Structured Bodies Controlled by the Company
□Applicable √Not applicable
10. Risks Facing by the Company and Countermeasures
(1) The risk that the R&D of intelligent manufacturing equipment and industrialization process are less than
expected.
China is undergoing a “transformation from a manufacturing giant to a manufacturing power”, and the
demand for the transformation of digital factories and intelligent factories is on the rise. In the face of
demand, if the company fails to timely expand the application field of new technology in time, or the
industrialization process is not as expected, it may miss the best opportunity to enter the new industry, which
will bring adverse effects on the medium-term and long-term rapid development of the Company and
become one of the risk factors faced by the Company.
29
HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
Solutions: First of all, in the aspect of R&D and setting up the project, the Company chooses areas with large
market demand which can be replicated, and the Company has technological advantages, which helps to
accelerate the research and development process. After successful research and development, there is a large
space for replication and promotion. Secondly, the Company chooses the areas with existing industry pain
points and great technical difficulties. After making breakthroughs in key technologies, it will quickly
establish and consolidate its technological competitive advantages, accelerate to get through the whole
product line, and establish a first-mover advantage for the company. Thirdly, in the formation of intelligent
manufacturing overall solutions, regarding non-critical supporting technologies for the mature market, the
Company effectively uses social resources, focusing on the research and development of the core
technologies, so as to accelerate the launching of product solutions. At the same time, the Company
establishes standardized modules for intelligent manufacturing and factory digital product solutions, which
helps to accelerate the replication and promotion of product technology in different customers and different
industries, and effectively respond to relevant risk factors.
(2) The risk that 5G-based industrial internet and artificial intelligence technology cannot be deeply applied
in the Company’s overall solution of intelligent manufacturing.
Solutions: Intelligent manufacturing technology is inseparable from industrial Internet technology. The
application of 5G in the industrial field provides technological convenience for man-machine collaboration
and intelligent manufacturing. At present, the Company has outstanding competitive advantages in the field
of product application. However, if the industrial Internet and artificial intelligence technology based on 5G
cannot be deeply integrated and applied in the intelligent manufacturing product technology solutions in the
future, it will restrict the speed and quality of the Company’s medium-term and long-term development, and
constitute one of the risk factors.
Enterprises above the designated size of China’s manufacturing industry generally have automated
production lines, but the proportion of digitalization is not high, factory data sharing is little, and use of
intelligent technology is few. The development of intelligent manufacturing in China still has a big gap
compared with the United States, Japan and Germany, and the overall development space of the industry is
broad. Based on years of technical accumulation and rich product line application advantages, the Company
can provide customers with the overall intelligent manufacturing solutions in the main product application
fields, and continue to carry out technical research on the integration and application of 5G, industrial
Internet and artificial intelligence technology in the overall solutions of intelligent manufacturing application.
From the perspective of resources, Lianchuang Weilai is the largest shareholder of the Company, and its
actual controller, China United Network Communications Group Co., Ltd., has a profound industrial and
technical background in 5G network. The industrial resources of the Company’s largest shareholder will help
the Company to build the industrial upgrading of "5G + industrial Internet", and accelerate the Company to
expand new fields and explore new markets. At the level of product research and development, the Company
will also make full use of its own advantages and resources, accelerate the technology reserve in the digital
and intelligent manufacturing industry, establish a competitive advantage position, and deal with risk factors.
(3)The risk of whether the Company can effectively integrate its own and social resources and accelerate
technological innovation.
As a technology-oriented enterprise, the Company leads the differentiated competition strategy with the
30
HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
technology lead, in the field where the Company is engaged, the Company replaces the imported equipment
or makes the first set of innovative applications to maintain the dominant competitive position for a long
time. However, in the face of the rapid development of the industrial Internet, artificial intelligence, as well
as the fierce resource competition, the development of enterprises can not only stay on the use of internal
resources. If the Company fails to effectively integrate its own and social resources and accelerate
technological innovation, it will constitute one of the risk factors restricting the medium-and long-term
development of the Company.
Solutions: In terms of product and technology R&D, the Company actively cooperates with social resources
with the principle of independent and controllable core technology and considering efficiency priority. For
example, in the fields of intelligent manufacturing solutions and the like, for units with non-core and
sufficient market competition, with the principle of considering cost and efficiency, preferentially connect
the social resources such as universities, research institutes, leading technology enterprises in the industry
and integrate the company’s core technologies, accelerate the research and development process of products
and technology, and strive for market opportunities. Making effective use of social resources will help
company to concentrate their own resources, focus on key technological innovation and cope with relevant
risk factors.
(4)The risk that the equipment delivery may be delayed due to strict pandemic control measures.
Two years after the spread of COVID-19, stricter controls, such as the unexpected silent period, had an
impact on the company’s product supply chain and product delivery during the reporting period. In the future,
if the COVID-19 pandemic or other viruses accelerate spreading periodically, it may pose adverse risk
factors for the Company’s production organization, product delivery, and revenue recognition.
Solutions: The Company’s equipment products are produced according to the order, and the pandemic
control measures may affect the time point of revenue recognition, but it will not affect the final realization
of revenue recognition. In terms of production organization, the Company considers the impact factors of the
pandemic on the procurement cycle, optimizes the raw material procurement and inventory management, and
prevents the risk of poor supply chain. In terms of product delivery, the Company timely pays close attention
to the pandemic situation in various places, actively evaluates the pandemic control measures, allocates
installation and commissioning resources as a whole, and controls the risk of delayed delivery of installation
and commissioning products.
(5)The risk of unexpected demand for intelligent equipment in the post-pandemic era.
As we all know, the human fight against COVID-19 has entered a lasting tug of war, and the virus has
repeatedly mutated and expanded the infectivity, making countries around the world unexpected. Since 2022,
while the world has fought against this common disaster of mankind, the sudden emergence of international
geopolitical and military conflicts may have had a far-reaching impact on the world’s political and economic
pattern for several years. As a manufacturing giant in the world, the world’s demand for Chinese
manufacturing may be lower than expected if China is affected by insufficient global demand or adverse
world economic and trade policies. In the field of product technology application, as the Company is a
domestic intelligent equipment supplier and intelligent manufacturing overall solution provider, it is
inevitably restricted by this. Therefore, if the demand for intelligent equipment in the post-pandemic period
31
HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
is not as expected, it will constitute one of the short-term and medium-term risk factors restricting the
Company’s future performance.
Solutions: What corresponds to the risk is the opportunity. In the post-pandemic era, the structural supply of
China’s manufacturing labor force is insufficient, which brings God-given development opportunities for the
suppliers of the overall solution of intelligent manufacturing. On the one hand, the Company promotes the
replication and implementation of mature solutions of intelligent manufacturing among different enterprises,
on the other hand, it helps customers to improve production efficiency and improve economic benefits with
high efficient equipment. From the perspective of customers, it not only solves the problem of production
resources allocation, but also helps customers to concentrate resources, make efficient output and improve
economic benefits. At the same time, in the field of intelligent manufacturing equipment, the Company’s
industrial service revenue scale has increased year by year, making a considerable contribution to the overall
performance of the Company. Although with the recovery of the world’s manufacturing capacity in the
post-pandemic era, the world’s demand for Made in China may have the risk of fluctuations, the Company
strives to win the favor of users with vibrant products, traverse through demand fluctuations and cope with
relevant risk factors.
(6) The short-term risk that the production capacity of Intelligent Manufacturing Equipment restricts the
Company’s performance growth.
With the upgrading of China’s manufacturing industry, the structural supply of labor force is insufficient, and
the market demand for intelligent manufacturing equipment is strong. The Company’s intelligent
manufacturing equipment is in the high-end equipment application market, with strong customer strength,
urgent demand for intelligent equipment technology to replace labor, and great potential for the overall
solutions of intelligent factories. At present, the Company has abundant orders, busy production organized
work, and the intelligent manufacturing equipment production capacity may constitute one of the short-term
risk factors affecting the Company’s performance growth.
Solutions: To ease the pressure of production capacity, make full use of the advantages of the Yangtze River
Delta in region, policy, transportation, industrial environment, the Company has decided to establish regional
headquarters in Huaqiao Economic Development zone, Kunshan, implementing the production projects of
Robots and Intelligent factories and focusing on the overall solution of intelligent manufacturing of raw
material production of new energy enterprises, the overall solution of intelligent manufacturing of
sub-merged arc furnace smelting and the market upgrading demand guided by new technology products,
developing together with the Company to form an incremental scale and expand production capacity. During
the construction period of the project, currently the Company has leased the plant with supporting social
resources and organized production to relieve the Company’s production pressure. At the same time, the
Company makes financing plan to issue RMB 450 million of convertible bonds, used for robot and
intelligent factory industrialization production project, sub-merged arc furnace operation robot and its
intelligent factory R&D demonstration project, technology innovation and service center (R&D center)
project construction and supplementing liquidity, optimizing the capital structure, improving the Company
R&D achievements and production capacity and innovation and helping the Company’s medium-and
long-term performance growth, to deal with related risk factors.
32
HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
(7) The risk of technology confidentiality and unfair competition.
Technology leading is one of the Company’s important competitive strategies and competitive advantages.
In the market competition, the Company implements the differentiated competition strategy, stabilizes the
moat with the technological leading advantage, and maintains a high long-term level of profitability. The
Company attaches great importance to technical confidentiality protect the Company’s technology security
and prevent relevant risks through intellectual property protection, rights protection according to law, signing
confidentiality agreement and non-competition agreement with key technology personnel, and confidentiality
of proprietary technology by means of encryption technology. Nevertheless, there may still be possibility
that the Company’s intellectual property rights are illegally used, the proprietary technology mastered by the
Company are illegally stolen and the Company faces other unfair competition risks, which constitute the risk
of potential economic loss to the Company.
Solutions: The Company’s technology is divided into patented technology and proprietary technology, from
the perspective of technical confidentiality, each has its own advantages. The competitiveness of the
enterprise depends on the absolute strength. Only by being far ahead in the same competition, can we
continue to be in the leading competitive advantage position. In addition to the traditional technology
confidentiality and anti-improper competition means, the Company, by means of technology R&D and
innovation, continues to enhance technology reserve to keep one generation of R&D, one generation of
reserve and one generation of sales, to maintain the absolute competitive advantage in the domestic main
product application field. Therefore, through continuous technological innovation, actively coping with
relevant risks is the primary strategy for the company to deal with technology confidentiality and face unfair
competition.
The risk factors above are the Company concerned, the Company actively takes measures in order to avoid
and control relevant risks effectively.
33
HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
V. Financial statements
(1)Consolidated Balance Sheet
Prepared by HARBIN BOSHI AUTOMATION CO., LTD. Unit: RMB
Item Jun 30, 2022 Jan 1, 2022
Current assets:
Cash at bank and on hand 586,641,082.15 293,516,532.24
Financial assets held for trading 555,818,861.68 845,595,470.49
Derivative financial assets
Bills receivable 271,893,567.61 229,646,179.07
Accounts receivable 796,142,735.50 686,517,240.24
Financing receivables 140,693,656.81 79,149,044.16
Prepayments 146,255,935.10 122,894,199.23
Other receivables 22,083,026.15 15,263,337.81
Thereof: Interest receivable
Dividend receivable
Inventories 1,735,576,206.21 1,634,635,126.78
Contract assets 100,777,680.67 65,959,231.77
Assets held for sale
Non-current assets due within one year
Other current assets 31,320,224.70 102,006,478.67
Total current assets 4,387,202,976.58 4,075,182,840.46
Non-current assets:
Debt investments
Other debt investments
Long-term receivables
Long-term equity investments 399,111,694.59 368,931,927.57
Other equity instruments investments 54,843,027.56 54,843,027.56
Other non-current financial assets
Investment properties 6,569,555.02 6,765,974.62
Fixed assets 216,527,641.00 227,527,890.89
Construction in progress 804,726.79
Productive biological assets
Oil and gas assets
34
HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
Right-of-use assets 3,265,214.42 1,536,107.89
Intangible assets 62,588,232.54 59,203,985.82
Development costs
Goodwill 55,986,496.23 57,640,668.16
Long-term deferred expenses
Deferred tax assets 35,599,654.86 33,545,799.43
Other non-current assets 4,901,599.18 16,767,197.42
Total non-current assets 840,197,842.19 826,762,579.36
Total assets 5,227,400,818.77 4,901,945,419.82
Current liabilities:
Short-term loans 36,830,000.00 25,130,000.00
Financial liabilities held for trading
Derivative financial liabilities
Bills payable
Accounts payable 195,218,317.57 169,654,369.55
Advances from customers 290,250.00 93,199.97
Contract liabilities 1,421,666,398.09 1,183,763,174.21
Employee benefits payable 19,885,181.66 55,640,882.93
Taxes payable 51,706,046.53 50,017,507.87
Other payables 4,457,475.21 1,310,296.34
Thereof: Interest payable
Dividend payable
Liabilities held for sale
Non-current liabilities due within one year 1,906,948.25 15,584,251.66
Other current liabilities 87,923,963.10 87,335,615.64
Total current liabilities 1,819,884,580.41 1,588,529,298.17
Non-current liabilities:
Long-term loans
Bonds payable
Thereof: Preference shares
Perpetual debts
Lease liabilities 565,180.40 364,078.19
Long-term payable 0.00 6,000,000.00
Long-term employee benefits payable
35
HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
Provisions 3,344,614.71 4,202,180.70
Deferred income 6,322,508.55 8,369,857.05
Deferred tax liabilities 13,132,260.96 13,350,055.20
Other non-current liabilities 286,839,867.26 233,253,274.34
Total non-current liabilities 310,204,431.88 265,539,445.48
Total liabilities 2,130,089,012.29 1,854,068,743.65
Shareholders’ equity：
Share capital 1,022,550,000.00 1,022,550,000.00
Other equity instruments
Thereof: Preference shares
Perpetual debts
Capital reserve 211,254,898.13 168,298,491.29
Less: treasury shares
Other comprehensive income 13,140,443.80 15,452,263.61
Specific reserve 28,089,596.15 26,141,271.69
Surplus reserve 255,493,157.09 255,493,157.09
General risk reserve
Retained earnings 1,400,601,208.71 1,391,857,922.71
Total equity attributable to shareholders of the Parent Company 2,931,129,303.88 2,879,793,106.39
Minority shareholder equity 166,182,502.60 168,083,569.78
Total shareholders’ equity 3,097,311,806.48 3,047,876,676.17
Total liabilities and shareholders’ equity 5,227,400,818.77 4,901,945,419.82
Legal representative: Deng Xijun Director of Finance: Sun Zhiqiang Prepared by: Wang Peihua
(2) Balance Sheet of Parent Company
Unit: RMB
Item Jun 30, 2022 Jan 1, 2022
Current assets:
Cash at bank and on hand 525,101,291.39 231,349,019.86
Financial assets held for trading 523,649,644.37 781,841,534.53
Derivative financial assets
Bills receivable 228,830,023.70 213,879,097.43
Accounts receivable 735,781,094.27 623,091,820.39
Financing receivables 117,947,835.93 62,227,683.22
36
HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
Prepayments 119,065,515.88 103,997,118.75
Other receivables 17,707,137.72 12,089,893.45
Thereof: Interest receivable
Dividend receivable
Inventories 1,387,226,907.33 1,365,863,929.52
Contract assets 99,620,384.50 61,464,107.44
Assets held for sale
Non-current assets due within one year
Other current assets 12,506,225.59 84,086,902.47
Total current assets 3,767,436,060.68 3,539,891,107.06
Non-current assets:
Debt investments
Other debt investments
Long-term receivables
Long-term equity investments 549,798,960.89 510,619,193.87
Other equity instruments investments 24,483,027.56 24,483,027.56
Other non-current financial assets
Investment properties
Fixed assets 159,563,124.71 167,587,260.49
Construction in progress 635,670.19
Productive biological assets
Oil and gas assets
Right-of-use assets 547,176.96 653,082.18
Intangible assets 37,176,470.28 36,724,254.11
Development costs
Goodwill
Long-term deferred expenses
Deferred tax assets 24,337,405.03 25,151,630.69
Other non-current assets 4,362,105.18 15,847,197.42
Total non-current assets 800,903,940.80 781,065,646.32
Total assets 4,568,340,001.48 4,320,956,753.38
Current liabilities:
Short-term loans 5,000,000.00
Financial liabilities held for trading
37
HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
Derivative financial liabilities
Bills payable
Accounts payable 179,388,288.94 163,506,047.84
Advances from customers
Contract liabilities 1,255,663,932.15 1,076,132,534.39
Employee benefits payable 16,247,831.86 45,727,674.42
Taxes payable 41,831,101.85 45,300,625.00
Other payables 4,946,924.85 5,531,624.08
Thereof: Interest payable
Dividend payable
Liabilities held for sale
Non-current liabilities due within one year 210,957.85 201,250.11
Other current liabilities 79,001,770.12 82,008,840.39
Total current liabilities 1,582,290,807.62 1,418,408,596.23
Non-current liabilities:
Long-term loans
Bonds payable
Thereof: Preference shares
Perpetual debts
Lease liabilities 209,114.67 209,114.67
Long-term payable 6,000,000.00
Long-term employee benefits payable
Provisions 3,186,071.80 3,996,091.20
Deferred income 6,322,508.55 8,369,857.05
Deferred tax liabilities 6,955,930.05 7,297,242.43
Other non-current liabilities 146,973,885.08 107,151,867.52
Total non-current liabilities 163,647,510.15 133,024,172.87
Total liabilities 1,745,938,317.77 1,551,432,769.10
Shareholders’ equity：
Share capital 1,022,550,000.00 1,022,550,000.00
Other equity instruments
Thereof: Preference shares
Perpetual debts
Capital reserve 211,245,192.31 168,288,785.47
38
HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
Less: treasury shares
Other comprehensive income 4,844,985.62 5,369,127.17
Specific reserve 23,462,782.47 22,035,866.22
Surplus reserve 255,493,157.09 255,493,157.09
Retained earnings 1,304,805,566.22 1,295,787,048.33
Total shareholders’ equity 2,822,401,683.71 2,769,523,984.28
Total liabilities and shareholders’ equity 4,568,340,001.48 4,320,956,753.38
(3) Consolidated Income Statement
Unit: RMB
Item Current period Last period
1. Total revenue 1,028,107,177.93 1,115,555,107.33
Thereof : Operating revenue 1,028,107,177.93 1,115,555,107.33
2. Total cost 774,244,677.87 817,171,415.21
Thereof : cost of sales 634,720,902.68 686,843,468.37
Taxes and surcharges 10,405,504.70 7,037,640.58
Selling and distribution expenses 36,480,990.88 39,766,634.19
General and administrative expenses 56,426,605.54 49,958,002.37
Research and development expenses 39,782,927.29 33,299,584.34
Financial expenses -3,572,253.22 266,085.36
Thereof : Interest expenses 672,000.80 707,430.63
Interest income 4,948,498.70 194,369.22
Add: Other income 29,814,352.11 31,460,061.23
Investment income ("-" for losses) 18,102,815.76 23,271,381.73
Thereof: Income from investment in associates and joint
7,913,264.64 6,602,487.57
ventures
Gain from derecognition of financial assets measured at
amortized cost
Exchange income (Loss is listed with “-”)
Net exposure hedging gains ("-" for losses)
Gains from changes in fair value ("-" for losses) 693,391.19 -2,778,859.32
Credit impairment losses ("-" for losses) 4,998,212.24 2,074,614.24
Impairment losses ("-" for losses) -6,020,200.38 -1,309,097.78
Gains from assets disposal ("-" for losses) -89,024.87 -61,846.69
39
HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
3. Operating profit ("-" for losses) 301,362,046.11 351,039,945.53
Add: Non-operating income 1.73 1.66
Less: Non-operating expenses 35,306.08 172,177.19
4. Profit before income tax ("-" for losses) 301,326,741.76 350,867,770.00
Less: Income tax expenses 37,532,130.83 50,417,087.15
5. Net profit for the year ("-" for net losses) 263,794,610.93 300,450,682.85
(1) Classification according to operation continuity
Net profit from continuing operations(loss is stated with “-”) 263,794,610.93 300,450,682.85
Net profit from discontinued operations(loss is stated with “-”)
(2) Classified by ownership of the equity
Attributable to shareholders of the Parent Company 264,380,786.00 286,687,578.90
Minority interests -586,175.07 13,763,103.95
6. Other comprehensive income, net of tax -4,029,393.04 225,437.90
Other comprehensive income attributable to shareholders of the
-2,311,819.81 2,708,053.33
Parent Company, net of tax
(1) Other comprehensive income items which will not be
5,292,000.00
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
5,292,000.00
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
-2,311,819.81 -2,583,946.67
reclassified 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
-2,311,819.81 -2,583,946.67
foreign currency financial statements
40
HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
7)Others
Other comprehensive income attributable to minority shareholders,
-1,717,573.23 -2,482,615.43
net of tax
7. Total comprehensive income 259,765,217.89 300,676,120.75
Attributable to shareholders of the Parent Company 262,068,966.19 289,395,632.23
Minority interests -2,303,748.30 11,280,488.52
8. Earnings per share
(1) Basic earnings per share 0.2586 0.2804
(2) Diluted earnings per share 0.2586 0.2804
Legal representative: Deng Xijun Director of Finance: Sun Zhiqiang Prepared by: Wang Peihua
(4)Income Statement of Parent Company
Unit: RMB
Item Current period Last period
1. Total revenue 941,991,481.19 953,943,000.80
Less: cost of sales 588,479,383.86 613,465,857.42
Taxes and surcharges 8,903,000.49 6,457,908.10
Selling and distribution expenses 34,170,418.05 34,438,606.49
General and administrative expenses 27,777,651.39 26,668,862.47
Research and development expenses 31,882,198.68 23,637,107.73
Financial expenses -4,827,923.76 -2,165,572.00
Thereof : Interest expenses 9,707.74
Interest income 4,915,799.72 175,364.61
Add: Other income 29,600,786.33 28,411,188.35
Investment income ("-" for losses) 17,639,956.12 30,104,288.61
Thereof: Income from investment in associates and joint
7,913,264.64 6,602,487.57
ventures
Gain from derecognition of financial assets measured at
amortized cost
Net exposure hedging gains ("-" for losses)
Gains from changes in fair value ("-" for losses) 608,109.84 -2,586,347.61
Credit impairment losses ("-" for losses) 5,289,492.36 695,399.00
Impairment losses ("-" for losses) -2,718,689.24 -137,288.83
Gains from assets disposal ("-" for losses) -124,663.52 -61,846.69
2. Operating profit ("-" for losses) 305,901,744.37 307,865,623.42
41
HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
Add: Non-operating income 1.15 1.66
Less: Non-operating expenses 20,302.22 3,858.25
3. Profit before income tax ("-" for losses) 305,881,443.30 307,861,766.83
Less: Income tax expenses 41,225,425.41 40,512,679.09
4. Net profit for the year ("-" for net losses) 264,656,017.89 267,349,087.74
Net profit from continuing operations (loss is stated with “-”) 264,656,017.89 267,349,087.74
Net profit from discontinued operations (loss is stated with “-”)
5. Other comprehensive income, net of tax -524,141.55
(1) Other comprehensive income items which will not be
reclassified subsequently to profit or loss
1) Changes arising from remeasurement 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
-524,141.55
reclassified 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
-524,141.55
foreign currency financial statements
7)Others
6. Total comprehensive income 264,131,876.34 267,349,087.74
7. Earnings per share
(1) Basic earnings per share
(2) Diluted earnings per share
42
HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
(5) Consolidated Cash Flow Statement
Unit: RMB
Item Current period Last period
1. Cash flows from operating activities
Cash received from sales of goods or rendering of services 1,087,371,067.68 988,131,295.51
Refund of taxes and surcharges 28,176,068.36 33,081,369.60
Other cash receipts relating to operating activities 8,801,935.01 6,853,478.32
Sub-total of cash inflows from operating activities 1,124,349,071.05 1,028,066,143.43
Cash paid for goods and services 552,625,962.57 504,191,726.57
Cash paid to employees and paid on behalf of employees 227,143,438.05 196,334,468.47
Payments of taxes and surcharges 124,830,966.71 90,136,931.10
Other cash payments relating to operating activities 47,574,694.72 53,959,233.60
Sub-total of cash outflows from operating activities 952,175,062.05 844,622,359.74
Net cash flows from operating activities 172,174,009.00 183,443,783.69
2. Cash flows from investing activities
Cash received from withdrawing investments 1,423,456,384.65 1,994,610,000.00
Cash received from investment income 25,836,070.85 16,668,894.16
Net cash received from disposal of fixed assets, intangible
86,841.10 811,457.70
assets and 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 1,449,379,296.60 2,012,090,351.86
Cash paid to acquire fixed assets, intangible assets and other
10,091,182.49 11,808,848.53
long-term assets
Cash paid to acquire investments 1,058,410,000.00 1,632,250,000.00
Net increase of mortgaged loans
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 1,068,501,182.49 1,644,058,848.53
Net cash flows from investing activities 380,878,114.11 368,031,503.33
3. Cash flows from financing activities
Cash received from capital contributions
Thereof: Cash received by subsidiaries from minority
shareholders’ capital contributions
43
HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
Cash received from borrowings 28,830,000.00 15,000,000.00
Other cash receipts from financing activities
Sub-total of cash inflows from financing activities 28,830,000.00 15,000,000.00
Cash repayments of borrowings 32,130,000.00 22,174,437.32
Distribution of dividends or profits and payments for interest
256,234,892.33 212,608,098.04
expenses
Thereof: Cash payments for dividends or profit to minority
7,350,000.00
shareholders by subsidiaries
Other cash payments relating to financing activities 1,060,994.50 6,910.31
Sub-total of cash outflows from financing activities 289,425,886.83 234,789,445.67
Net cash flows from financing activities -260,595,886.83 -219,789,445.67
4. Effect of foreign exchange rate changes on cash and cash
922,452.27 -2,461,782.44
equivalents
5. Net increase in cash and cash equivalents 293,378,688.55 329,224,058.91
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 583,709,247.11 442,688,650.49
Legal representative: Deng Xijun Director of Finance: Sun Zhiqiang Prepared by: Wang Peihua
(6)Cash Flow Statement of Parent Company
Unit: RMB
Item Current period Last period
1. Cash flows from operating activities
Cash received from sales of goods or rendering of services 944,606,308.01 865,325,043.92
Refund of taxes and surcharges 24,908,877.27 30,787,752.80
Other cash receipts relating to operating activities 6,920,097.79 5,094,383.50
Sub-total of cash inflows from operating activities 976,435,283.07 901,207,180.22
Cash paid for goods and services 500,875,979.72 429,869,414.86
Cash paid to employees and paid on behalf of employees 130,471,617.02 165,576,286.71
Payments of taxes and surcharges 115,637,958.66 77,058,305.53
Other cash payments relating to operating activities 28,383,872.04 42,305,830.70
Sub-total of cash outflows from operating activities 775,369,427.44 714,809,837.80
Net cash flows from operating activities 201,065,855.63 186,397,342.42
2. Cash flows from investing activities
Cash received from withdrawing investments 1,302,165,929.92 1,865,550,000.00
Cash received from investment income 25,622,816.62 23,608,102.41
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HARBIN BOSHI AUTOMATION CO., LTD. Semi-Annual Report 2022(Abstract）
Net cash received from disposal of fixed assets, intangible
192,841.10 811,457.70
assets and other long term assets
Net cash received from disposal of subsidiaries and other
operating units
Other cash receipts relating to investing activities 8,000,000.00
Sub-total of cash inflows from investing activities 1,327,981,587.64 1,897,969,560.11
Cash paid to acquire fixed assets, intangible assets and other
4,058,395.96 9,993,275.48
long-term assets
Cash paid to acquire investments 977,800,000.00 1,506,200,000.00
Net cash paid to acquire subsidiaries and other operating units
Other cash payments relating to investing activities 2,800,000.00 8,000,000.00
Sub-total of cash outflows from investing activities 984,658,395.96 1,524,193,275.48
Net cash flows from investing activities 343,323,191.68 373,776,284.63
3. Cash flows from financing activities
Cash received from capital contributions
Cash received from borrowings 5,000,000.00
Other cash receipts from financing activities
Sub-total of cash inflows from financing activities 5,000,000.00
Cash repayments of borrowings
Distribution of dividends or profits and payments for interest
255,637,500.00 204,510,000.00
expenses
Other cash payments relating to financing activities 9,707.74
Sub-total of cash outflows from financing activities 255,647,207.74 204,510,000.00
Net cash flows from financing activities -250,647,207.74 -204,510,000.00
4. Effect of foreign exchange rate changes on cash and cash
10,431.96 -1,577.84
equivalents
5. Net increase in cash and cash equivalents 293,752,271.53 355,662,049.21
Add: Cash and cash equivalents at the beginning of period 231,342,219.86 20,668,974.65
6. Cash and cash equivalents at the end of period 525,094,491.39 376,331,023.86
Board of Directors of HARBIN BOSHI AUTOMATION CO., LTD.
August 27th, 2022
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