HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for the First Quarter 2023
HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for
The First Quarter 2023
The Company and whole members of the Board of Directors guarantee that the information disclosed
is factual, accurate and complete, and there is no false record, misleading statement or material
omission.
Important content reminder:
1.The Board of Directors, the Board of Supervisors as well as all the directors, supervisors and senior
managers of HARBIN BOSHI AUTOMATION CO., LTD. ( hereinafter referred to as “the Company”)
warrant the factuality, accuracy and completeness of this Report and there is no false record,
misleading statement or material omission. And they will be severally and jointly liable for this Report.
2.The person in charge of the Company, the person in charge of accounting work of the Company, and
the person in charge of accounting department of the Company warrant that the financial information
in this Report is factual, accurate and complete.
3. Whether this First Interim Report has been audited by auditing firm or not?
□Yes √No
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HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for the First Quarter 2023
I. Main financial data
1. Main accounting data and financial indicators
Indicate by check mark if there is any retrospectively restated accounting data of previous years.
□Yes √No
Increase/Decrease over the
Jan 1 to Mar 31, 2023 Jan 1 to Mar 31, 2022
same period of previous year
Operating Revenue (RMB) 729,710,396.08 504,286,748.22 44.70%
Net profit attributable to parent company’s
210,214,585.50 153,163,366.86 37.25%
shareholders (RMB)
Net profit after deducting non-recurring
profit or loss attributable to shareholders of the 198,069,179.12 146,195,048.97 35.48%
parent company (RMB)
Net cash flow from operating activities (RMB) -53,800,397.01 55,942,302.81 -196.17%
Basic earnings per share (RMB/share) 0.2056 0.1498 37.25%
Diluted earnings per share (RMB/share) 0.2025 0.1498 35.18%
Weighted average return on equity 6.42% 5.16% 1.26%
Increase/decrease of Mar 31,
Mar 31, 2023 Dec 31, 2022
2023 over Dec 31, 2022
Total assets (RMB) 6,268,223,837.67 6,220,273,855.91 0.77%
Total equity attributable to shareholders of the
3,382,277,207.73 3,169,585,012.94 6.71%
parent company (RMB)
2. Non-recurring gains and losses
√ Applicable □Not applicable
Unit: RMB
Item Jan 1 to Mar 31, 2023 Note
Profit or loss from disposal of non-current assets (including the write-off of accrued
-16,327.02
for impairment of assets)
Governmental subsidy reckoned into current gains or losses (excluding the subsidy
enjoyed in quota or ration according to the unified national standards, which are 6,243,567.69
closely relevant to enterprise’s business)
Except for effectively hedging business related to normal business operations of the Income from cash
7,974,723.16
Company, profit or loss arising from the changes in the fair value of financial assets management
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HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for the First Quarter 2023
held for trading, financial liabilities held for trading, as well as investment income
from the disposal of financial assets held for trading, financial liabilities held for
trading, and investments in other debt obligations
Other non-operating income and expenses other than the above -374,084.57
Other gain/loss items that qualified the definition of non-recurring profit
441,985.54
(gains)/losses
Less: Impact on income tax 1,930,879.56
Impact on minority shareholders’ equity (after tax) 193,578.86
Total 12,145,406.38 --
Other gain/loss items that qualified the definition of non-recurring profit (gains)/losses:
√Applicable□ Not applicable
Other gain/loss items that qualified the definition of non-recurring profit (gains)/losses: Income from
treasury reverse repos (cash management).
Explanation on those non-recurring gain/loss listed in the “Q&A Announcement No.1 on Information
Disclosure for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss” defined as
recurring gain/loss.
□ Applicable √ Not applicable
The Company does not have the non-recurring gain/loss listed in the “Q&A Announcement No.1 on
Information Disclosure for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss”
defined as recurring gain/loss.
3. Particulars about changes in items of main accounting data and financial index and explanations of
reasons.
√ Applicable □Not applicable
Mar 31,2023 Dec 31,2022
Consolidated Balance Sheet items Change Reasons for the changes
(RMB) (RMB)
Due to cash management activities, led to the
Cash and cash equivalent 226,605,940.55 659,606,109.17 -65.65%
decrease in ending balance of bank deposits.
Due to the increase in the amount of bank
Financing receivable 177,171,988.16 111,064,333.27 59.52%
acceptance bills with higher credit rating.
Advance payment 206,578,966.50 139,594,005.25 47.99% Due to the increase in operational prepayments.
Other current assets 408,630,927.82 8,781,928.47 4553.09% Mainly due to cash management activities.
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HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for the First Quarter 2023
Investment real estate 12,296,268.76 6,373,135.42 92.94% Due to the increase in real estate lease.
Due to the increase in long-term product warranty
Other non-current assets 28,284,690.26 20,759,073.65 36.25%
compared with which of the beginning balance.
Due to the subsidiary pay back matured bank
Short-term loans 11,130,000.00 31,830,000.00 -65.03%
loan.
The year-end bonus of 2022 accrued at the end of
Employee benefits payable 21,051,885.79 70,475,565.86 -70.13% the previous period, which was paid in Jan, 2023,
and the balance decreased.
Mainly due to increase in payable caused by
Other payables 17,770,244.01 3,035,031.46 485.50% decrease of capital of the subsidiary during this
period.
Due to increase in prepayments from customers
Other non-current liabilities 340,817,029.20 199,568,192.56 70.78%
over one year.
Consolidated Income Statement items from Jan 1 to Mar 31,2023 Jan 1 to Mar 31, 2022
the beginning of the year to the end of the Change Reasons for the changes
(RMB) (RMB)
reporting period
Due to the revenue of intelligent manufacturing
equipment and industrial service both increased
Operating revenue 729,710,396.08 504,286,748.22 44.70%
comprehensively compared with which of the
same period of last year.
The increase in cost of sales caused by the
Cost of sales 438,999,834.77 304,956,236.67 43.96%
increase in the operating revenue.
The decrease of value-added tax led to surcharges
Taxes and surcharges 3,824,169.65 5,493,462.60 -30.39% decrease compared with which of the same period
of last year.
The increase in sales led to the increase in selling
Selling expenses 27,408,242.78 18,514,567.31 48.04%
expenses.
Compared with the same period of last year, one
of secondary subsidiary was no longer
General and administrative expenses 19,973,449.70 28,743,732.58 -30.51%
consolidated, which led general and
administrative expenses decrease.
Due to increase in research and development
Research and development expenses 38,345,817.26 16,829,101.44 127.85%
inputs.
Credit impairment losses (loss is stated Due to the increase in the provision for bad debts
-5,699,807.43 11,240,084.91 150.71%
with “-”) accrued.
Due to the decrease of the provision for
Asset impairment losses (loss is stated with
-573,795.00 -5,674,134.02 -89.89% inventories accrued compared with which of the
“-”)
same period of last year.
The value-added tax refund received from sales of
Other income 39,246,555.78 12,886,757.68 204.55%
product with software increased compared with
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HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for the First Quarter 2023
which of the same period of last year.
The investment income accrued in associates
Investment income (loss is stated with “-”) 14,813,438.64 25,896,672.03 -42.80% decreased compared with which of the same
period of last year.
The investment income accrued in associates
Thereof: Income from investment in
8,194,553.90 21,352,331.05 -61.62% decreased compared with which of the same
associates and joint ventures
period of last year.
The increase in income tax expenses which
Income tax expenses 31,903,311.42 22,598,201.80 41.18%
caused by increases in revenue and profit.
Consolidated Cash Flow Statement items Jan 1 to Mar 31,2023 Jan 1 to Mar 31, 2022
from the beginning of the year to the end of Change Reasons for the changes
(RMB) (RMB)
the reporting period
Due to increase in operational cash payments of
Net cash flows from operating activities -53,800,397.01 55,942,302.81 -196.17% production organization etc., caused by increases
in orders.
Mainly due to the impact of cash management
Net cash flows from investing activities -352,046,143.89 49,076,700.07 -817.34%
activities.
Mainly due to the subsidiary decreased capital
Net cash flows from financing activities -26,673,490.85 -10,871,914.95 -145.34%
during this period.
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HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for the First Quarter 2023
II. Shareholders Information
1. Total number of common shareholders and preference shareholders with voting rights recovered
and top ten common shareholders
Unit: Share
Total preference shareholders with
Total number of shareholders of common
19,314 voting rights recovered at end of 0
stocks at the end of the reporting period
reporting period
Top 10 shareholders
Amount of Pledged, marked or
Name Nature Ownership Amount of shares held restricted frozen stocks
shares held Status Amount
Unicom Kaixing Equity Investment
Management (Zhuhai Hengqin) Limited -
Lianchuang Weilai (Wuhan) Intelligent Others 15.11% 154,556,500.00
Manufacturing Industrial Investment
Partnership (Limited Partnership)
Deng Xijun Domestic natural person 9.41% 96,181,562.00 72,136,172.00
Zhang Yuchun Domestic natural person 8.09% 82,696,357.00 62,022,268.00
Wang Chungang Domestic natural person 5.61% 57,394,047.00 43,045,535.00
Harbin Institute of Technology Asset Domestic state-owned
5.00% 51,127,500.00
Management Co. Ltd corporate
Cai Zhihong Domestic natural person 4.96% 50,677,029.00
Cai Hegao Domestic natural person 4.89% 50,000,000.00 37,500,000.00
Cheng Fang Domestic natural person 1.43% 14,609,308.00
Hong Kong Securities Clearing Company Ltd.
Foreign legal person 1.42% 14,565,589.00
(HKSCC)
Tan Jianxun Domestic natural person 1.42% 14,480,833.00
Top 10 shareholders with unrestricted shares held
Type of shares
Name Amount of unrestricted shares held
Type Amount
Unicom Kaixing Equity Investment
Management (Zhuhai Hengqin) Limited -
Lianchuang Weilai (Wuhan) Intelligent 154,556,500.00 RMB ordinary shares 154,556,500.00
Manufacturing Industrial Investment
Partnership (Limited Partnership)
Harbin Institute of Technology Asset
51,127,500.00 RMB ordinary shares 51,127,500.00
Management Co. Ltd
Cai Zhihong 50,677,029.00 RMB ordinary shares 50,677,029.00
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HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for the First Quarter 2023
Deng Xijun 24,045,390.00 RMB ordinary shares 24,045,390.00
Zhang Yuchun 20,674,089.00 RMB ordinary shares 20,674,089.00
Cheng Fang 14,609,308.00 RMB ordinary shares 14,609,308.00
Hong Kong Securities Clearing Company Ltd.
14,565,589.00 RMB ordinary shares 14,565,589.00
(HKSCC)
Tan Jianxun 14,480,833.00 RMB ordinary shares 14,480,833.00
Wang Chungang 14,348,512.00 RMB ordinary shares 14,348,512.00
Cai Hegao 12,500,000.00 RMB ordinary shares 12,500,000.00
Deng Xijun, Zhang Yuchun, Wang Chungang, and Cai Hegao keep concerted action through the
Concerted Action Agreement and jointly control the Company at the end of the reporting period; Cai
Zhihong is the son of Cai Hegao, he independently exercised shareholder rights based on his personal
Explanation on the above-mentioned wishes, he has not signed concerted action agreement or reached a similar agreement or arrangement with
shareholders’ affiliated relationship or Cai Hegao, nor has other concerted action plan, they are not persons acting in concert; Cheng Fang and
concerted action Tan Jianxun are the sponsors of shareholders. Cheng Fang is the sister of Wang Chungang’s wife. In
addition, the Company is not made aware whether there is any affiliated relationship between the
above-mentioned shareholders or whether they are persons acting in concert as defined in Administrative
Measures for the Acquisition of Listed Companies.
Explanation on top 10 shareholders that are
Not applicable
engaged in margin trading business
2.The total number of preferred shareholders and the top 10 preferred shareholders’ shareholdings of
the Company
□Applicable √Not applicable
III. Other Significant Events
□Applicable √Not applicable
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HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for the First Quarter 2023
IV. Quarterly Financial Statements
1. Financial statements
(1)Consolidated Balance Sheet
Prepared by HARBIN BOSHI AUTOMATION CO., LTD. Unit: RMB
Item Mar 31 ,2023 Jan 1, 2023
Current assets:
Cash and cash equivalent 226,605,940.55 659,606,109.17
Financial assets held for trading 1,223,933,098.82 1,268,124,738.43
Derivative financial assets
Notes receivable 226,946,130.18 307,322,625.28
Accounts receivable 926,832,438.54 856,529,854.29
Financing receivable 177,171,988.16 111,064,333.27
Advance payment 206,578,966.50 139,594,005.25
Other receivables 32,043,959.39 29,316,161.67
Thereof: Interest receivable
Dividend receivable 2,601,281.28 2,601,281.28
Inventories 1,890,227,408.64 1,912,047,999.38
Contract assets 128,323,476.15 124,651,440.99
Assets held for sale
Non-current assets due within one year
Other current assets 408,630,927.82 8,781,928.47
Total current assets 5,447,294,334.75 5,417,039,196.20
Non-current assets:
Debt investments
Other debt investments
Long-term receivable
Long-term equity investment 408,184,263.46 397,830,998.40
Investment in other equity instruments 57,477,364.10 57,477,364.10
Other non-current financial assets
Investment real estate 12,296,268.76 6,373,135.42
Fixed assets 181,299,532.62 192,561,428.46
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HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for the First Quarter 2023
Construction in progress 30,846,546.56 27,241,137.26
Productive biological assets
Oil and gas assets
Right-of-use assets 2,817,148.29 2,349,347.56
Intangible assets 55,945,811.73 57,090,300.02
Development expenditure
Goodwill 1,120,909.26 1,120,909.26
Long-term deferred expenses 80,707.96 84,955.75
Deferred income tax assets 42,576,259.92 40,734,119.14
Other non-current assets 28,284,690.26 20,759,073.65
Total non-current assets 820,929,502.92 803,622,769.02
Total assets 6,268,223,837.67 6,220,661,965.22
Current liabilities:
Short-term loans 11,130,000.00 31,830,000.00
Financial liabilities held for trading
Derivative financial liabilities
Notes payable
Accounts payable 244,371,531.04 227,581,839.47
Advance from customers 421,830.00 96,750.00
Contract liabilities 1,466,322,523.87 1,725,223,007.33
Employee benefits payable 21,051,885.79 70,475,565.86
Taxes payable 39,174,387.38 54,028,725.59
Other payables 17,770,244.01 3,035,031.46
Thereof: Interest payable
Dividend payable
Liabilities held for sale
Non-current liabilities due within one year 2,388,882.64 2,097,594.87
Other current liabilities 138,116,798.02 119,463,543.08
Total current liabilities 1,940,748,082.75 2,233,832,057.66
Non-current liabilities:
Long-term loans
Bonds payable 419,786,939.84 415,824,511.11
Thereof: Preferred stock
Perpetual debt
Lease liabilities 185,099.09
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HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for the First Quarter 2023
Long-term payables
Long-term employee benefits payable
Estimated liabilities 4,706,352.74 5,195,263.40
Deferred income 4,089,541.58 4,781,549.13
Deferred income tax liability 15,068,526.76 14,903,697.98
Other non-current liabilities 340,817,029.20 199,568,192.56
Total non-current liabilities 784,653,489.21 640,273,214.18
Total Liabilities 2,725,401,571.96 2,874,105,271.84
Shareholders' equity:
Share capital 1,022,553,774.00 1,022,550,000.00
Other equity instruments 32,099,241.77 32,103,507.97
Thereof: Preferred stock
Perpetual debt
Capital reserve 228,737,183.93 226,083,353.77
Minus: treasury shares
Other comprehensive income 22,690,994.02 22,852,245.26
Special reserve 29,229,248.34 29,243,725.77
Surplus reserve 300,522,057.11 300,522,057.11
General risk reserve
Retained earnings 1,746,444,708.56 1,536,091,897.65
Total equity attributable to shareholders of parent
3,382,277,207.73 3,169,446,787.53
company
Minority shareholder equity 160,545,057.98 177,109,905.85
Total shareholders' equity 3,542,822,265.71 3,346,556,693.38
Total liabilities and shareholders' equity 6,268,223,837.67 6,220,661,965.22
Legal representative: Deng Xijun Director of Finance: Sun Zhiqiang Prepared by: Wang Peihua
(2)Consolidated Income Statement
Unit: RMB
Item Current period Last period
1. Total revenue 729,710,396.08 504,286,748.22
Thereof : Operating revenue 729,710,396.08 504,286,748.22
2. Total cost 528,536,727.87 374,497,565.09
Thereof: Cost of sales 438,999,834.77 304,956,236.67
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HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for the First Quarter 2023
Taxes and surcharges 3,824,169.65 5,493,462.60
Selling expenses 27,408,242.78 18,514,567.31
General and administrative expenses 19,973,449.70 28,743,732.58
Research and development expenses 38,345,817.26 16,829,101.44
Financial expenses -14,786.29 -39,535.51
Thereof : Interest expenses 2,792,694.99 391,974.12
Interest income 3,144,024.38 1,545,360.24
Add: Other income 39,246,555.78 12,886,757.68
Investment income (loss is stated with “-”) 14,813,438.64 25,896,672.03
Thereof: Investment income from associates and joint
8,194,553.90 21,352,331.05
ventures
Gain from the derecognition of the financial assets measured
at amortized cost
Exchange income (Loss is listed with “-”)
Net exposure hedging gains ("-" for losses)
Gains from changes in fair value (loss is stated with “-”) 1,797,823.96 1,761,695.04
Credit impairment losses (loss is stated with “-”) -5,699,807.43 11,240,084.91
Asset impairment losses (loss is stated with “-”) -573,795.00 -5,674,134.02
Gains from disposal of assets (loss is stated with “-”) -16,327.02 72.23
3. Operating profit (loss is stated with “-”) 250,741,557.14 175,900,331.00
Add: Non-operating income 3.15 1.37
Less: Non-operating expenses 374,087.72 302.22
4. Total profit (loss is stated with “-”) 250,367,472.57 175,900,030.15
Less: Income tax expenses 31,903,311.42 22,598,201.80
5. Net profit (loss is stated with “-”) 218,464,161.15 153,301,828.35
(1) Classified by continuity of operations
Net profit from continuing operations(loss is stated with “-”) 218,464,161.15 153,301,828.35
Net profit from discontinued operations(loss is stated with “-”)
(2) Classified by ownership of the equity
Attributable to shareholders of the Parent Company 210,214,585.50 153,163,366.86
Minority interests 8,249,575.65 138,461.49
6. Other comprehensive income, net of tax -161,251.24 -2,269,516.24
Other comprehensive income attributable to shareholders of the
-161,251.24 -1,154,505.94
Parent Company, net of tax
(1) Other comprehensive income items which will not be
reclassified subsequently to profit or loss
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HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for the First Quarter 2023
1) Changes arising from re-measurement of defined benefit
plan
2) Other comprehensive income that will not be transferred
subsequently to profit or loss under the equity method
3) Changes in the fair value of the investment in other
equity instruments
4)Changes in the fair value of the Company’s own credit
risk
5)Others
(2) Other comprehensive income items which will be reclassified
-161,251.24 -1,154,505.94
subsequently to profit or loss
1) Other comprehensive income that will be transferred
-161,251.24
subsequently to profit or loss under the equity method
2)Changes in the fair value of other debt investments
3)Amount of financial assets reclassified and included in
other comprehensive income
4) Credit impairment reserves for other debt investment
5) Cash flow hedging reserve
6) Translation differences arising from translation of
-1,154,505.94
foreign currency financial statements
7)Others
Other comprehensive income attributable to minority shareholders,
-1,115,010.30
net of tax
7. Total comprehensive income 218,302,909.91 151,032,312.11
Attributable to shareholders of the Parent Company 210,053,334.26 152,008,860.92
Minority interests 8,249,575.65 -976,548.81
8. Earnings per share
(1) Basic earnings per share 0.2056 0.1498
(2) Diluted earnings per share 0.2025 0.1498
Legal representative: Deng Xijun Director of Finance: Sun Zhiqiang Prepared by: Wang Peihua
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HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for the First Quarter 2023
(3)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 497,741,596.66 514,418,145.84
Refund of taxes and surcharges 37,419,572.33 11,829,089.68
Other cash receipts relating to operating activities 9,530,482.55 3,292,892.48
Sub-total of cash inflows from operating activities 544,691,651.54 529,540,128.00
Cash paid for goods and services 323,324,192.97 268,538,637.32
Cash paid to employees and paid on behalf of employees 156,344,892.59 132,880,681.95
Payments of taxes and surcharges 88,271,570.01 51,220,106.86
Other cash payments relating to operating activities 30,551,392.98 20,958,399.06
Sub-total of cash outflows from operating activities 598,492,048.55 473,597,825.19
Net cash flows from operating activities -53,800,397.01 55,942,302.81
2. Cash flows from investing activities
Cash received from withdrawing investments 1,316,610,000.00 674,630,000.00
Cash received from investment income 6,707,398.11 14,201,242.45
Net cash received from disposal of fixed assets, intangible assets and
47,787.61 174.23
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 1,323,365,185.72 688,831,416.68
Cash paid to acquire fixed assets, intangible assets and other
4,644,029.61 6,454,716.61
long-term assets
Cash paid to acquire investments 1,670,457,000.00 633,300,000.00
Net increase of mortgaged loans
Net cash paid to acquire subsidiaries and other operating units
Other cash payments relating to investing activities 310,300.00
Sub-total of cash outflows from investing activities 1,675,411,329.61 639,754,716.61
Net cash flows from investing activities -352,046,143.89 49,076,700.07
3. Cash flows from financing activities
Cash received from capital contributions 700,000.00
Thereof: Cash received by subsidiaries from minority shareholders’
700,000.00
capital contributions
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HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for the First Quarter 2023
Cash received from borrowings 8,130,000.00 16,130,000.00
Other cash receipts from financing activities 460,000.00
Sub-total of cash inflows from financing activities 9,290,000.00 16,130,000.00
Cash repayments of borrowings 22,130,000.00 26,130,000.00
Distribution of dividends or profits and payments for interest
205,494.50 358,457.47
expenses
Thereof: Cash payments for dividends or profit to minority
shareholders by subsidiaries
Other cash payments relating to financing activities 13,627,996.35 513,457.48
Sub-total of cash outflows from financing activities 35,963,490.85 27,001,914.95
Net cash flows from financing activities -26,673,490.85 -10,871,914.95
4. Effect of foreign exchange rate changes on cash and cash equivalents 82,688.27 -53,449.63
5. Net increase in cash and cash equivalents -432,437,343.48 94,093,638.30
Add: Cash and cash equivalents at the beginning of period 656,593,226.15 290,330,558.56
6. Cash and cash equivalents at the end of period 224,155,882.67 384,424,196.86
2. Auditor’s report
Whether this First Interim Report has been audited by auditing firm or not?
□Yes √No
The First Interim Report has not been audited by auditing firm.
Board of Directors of HARBIN BOSHI AUTOMATION CO., LTD.
April 28th, 2023
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