BOE Technology Group Co., Ltd. First Quarterly Report 2021 (Summary)
Stock Code: 200725 Stock Name: BOE-B Announcement No. 2021-037
BOE TECHNOLOGY GROUP CO., LTD.
FIRST QUARTERLY REPORT 2021 (SUMMARY)
Part I Important Notes
The Board of Directors (or the “Board”), the Supervisory Committee as well as the directors,
supervisors and senior management of BOE Technology Group Co., Ltd. (hereinafter referred
to as the “Company”) hereby guarantee the factuality, accuracy and completeness of the
contents of this Report and its summary, and shall be jointly and severally liable for any
misrepresentations, misleading statements or material omissions therein.
All the Company’s directors have attended the Board meeting for the review of this Report
and its summary.
Mr. Chen Yanshun, the Company’s legal representative, Mr. Liu Xiaodong, President of the
Company, Ms. Sun Yun, the Company’s Chief Financial Officer, and Ms. Yang Xiaoping, head
of the Company’s financial department (equivalent to financial manager) hereby guarantee
that the Financial Statements carried in this Report are factual, accurate and complete.
This Report has been prepared in both Chinese and English. Should there be any
discrepancies or misunderstandings between the two versions, the Chinese version shall
prevail.
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BOE Technology Group Co., Ltd. First Quarterly Report 2021 (Summary)
Part II Key Corporate Information
I Key Financial Information
Indicate by tick mark whether there is any retrospectively restated datum in the table below.
√ Yes □ No
Reason for any retrospectively adjustment or restatement
Other reasons
Q1 2020 Change (%)
Item Q1 2021
Before After After
Operating revenue (RMB) 49,655,379,519.00 25,879,940,117.00 23,887,380,060.00 107.87%
Net profit attributable to the listed
5,182,037,171.00 566,676,460.00 566,676,460.00 814.46%
company’s shareholders (RMB)
Net profit attributable to the listed
company’s shareholders before 4,484,934,082.00 -502,352,271.00 -502,352,271.00 -
exceptional items (RMB)
Net cash generated from/used in
14,522,832,708.00 5,223,671,919.00 5,223,671,919.00 178.02%
operating activities (RMB)
Basic earnings per share (RMB/share) 0.147 0.014 0.014 950.00%
Diluted earnings per share (RMB/share) 0.147 0.014 0.014 950.00%
Weighted average return on equity (%) 5.51% 0.50% 0.50% 5.01%
31 December 2020 Change (%)
Item 31 March 2021
Before After After
Total assets (RMB) 427,658,157,566.00 424,256,806,331.00 424,256,806,331.00 0.80%
Equity attributable to the listed
112,362,224,896.00 103,276,766,835.00 103,276,766,835.00 8.80%
company’s shareholders (RMB)
Other reasons
The operating revenue for Q1 2020 was represented in accordance with reviewed data, which caused no influence on other financial
indicators.
Exceptional gains and losses:
√ Applicable □ Not applicable
Unit: RMB
Item Q1 2021 Note
Gain or loss on disposal of non-current assets (inclusive of impairment allowance write-offs) 149,147,539.00 N/A
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BOE Technology Group Co., Ltd. First Quarterly Report 2021 (Summary)
Tax rebates, reductions and exemptions with ultra vires approval or in lack of duly approved
0.00 N/A
document
Government subsidies charged to current profit and loss (exclusive of government subsidies
given in the Company’s ordinary course of business at fixed quotas or amounts as per 627,394,493.00 N/A
government’s uniform standards )
Capital occupation charges on non-financial enterprises that are charged to current gains and
0.00 N/A
losses
Income equal to the amount by which investment costs for the Company to obtain subsidiaries,
associates and joint ventures are lower than the Company’s enjoyable fair value of identifiable 0.00 N/A
net assets of investees when making investments
Gains and losses on non-monetary asset swap 0.00 N/A
Gains and losses on investment or asset management entrustments to other entities 0.00 N/A
Allowance for asset impairments due to acts of God such as natural disasters 0.00 N/A
Gains and losses on debt restructuring 0.00 N/A
Restructuring costs in staff arrangement, integration, etc. 0.00 N/A
Gains and losses on over-fair value amount as a result of transactions with distinctly unfair
0.00 N/A
prices
Current gains and losses on subsidiaries acquired through business mergers under same control
0.00 N/A
from period-beginning to merger dates, net
Gains and losses on contingencies that do not arise in the Company’s ordinary course of business 0.00 N/A
Gain or loss on fair-value changes in trading financial assets and liabilities and derivative
financial assets and liabilities & investment income from disposal of trading financial assets and
liabilities and derivative financial assets and liabilities, and other creditors’ investment 28,421,688.00 N/A
(exclusive of effective portion of hedges that arise in the Company’s ordinary course of
business)
Reversed portion of impairment allowance for accounts receivable and contract assets which are
2,844,705.00 N/A
tested individually for impairment
Gains and losses on loan entrustment 0.00 N/A
Gains and losses on fair value changes in investment property of which subsequent measurement
0.00 N/A
is carried out using fair value method
Effects of all adjustments required by taxation, accounting and other applicable laws and
0.00 N/A
regulations on current gains and losses
Income from charges on entrusted management 0.00 N/A
Non-operating income and expense other than above 18,665,471.00 N/A
Other gains and losses that meet definition of nonrecurring gain/loss 0.00 N/A
Less: Income tax effects 81,244,762.00 N/A
Non-controlling interests effects (net of tax) 48,126,045.00 N/A
Total 697,103,089.00 --
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BOE Technology Group Co., Ltd. First Quarterly Report 2021 (Summary)
Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item defined or listed in the Explanatory
Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Gain/Loss
Items:
□ Applicable √ Not applicable
No such cases for the Reporting Period.
II Total Number of Shareholders and Holdings of Top 10 Shareholders at 31 March 2021
1. Numbers of Ordinary Shareholders and Preferred Shareholders with Resumed Voting Rights as well as
Holdings of Top 10 Shareholders
Unit: share
Number of ordinary shareholders at the
1,329,925 (including 1,292,791 A-shareholders and 37,134 B-shareholders)
period-end
Top 10 shareholders
Shareholdi Shares in pledge or
Restricted
Name of shareholder Nature of shareholder ng Total shares held frozen
shares held
percentage Status Shares
Beijing State-owned Capital Operation State-owned legal
11.68% 4,063,333,333 0 N/A 0
and Management Center person
Hong Kong Securities Clearing
Foreign legal person 5.90% 2,051,846,141 0 N/A 0
Company Ltd.
Beijing BOE Investment & State-owned legal
2.36% 822,092,180 0 N/A 0
Development Co., Ltd. person
State-owned legal
Hefei Jianxiang Investment Co., Ltd. 1.91% 666,195,772 0 N/A 0
person
Chongqing Ezcapital Opto-electronic State-owned legal
1.33% 463,816,446 0 N/A 0
Industry Investment Co., Ltd. person
State-owned legal
Hefei Jianxin Investment Co., Ltd. 1.30% 452,016,095 0 N/A 0
person
Beijing Yizhuang Investment Holdings State-owned legal
1.12% 388,827,757 0 N/A 0
Co., Ltd person
China Construction Bank-GF
Technology Pioneer Mixed Type Other 0.98% 341,531,677 0 N/A 0
Securities Investment Fund
State-owned legal
Beijing Electronics Holdings Co., Ltd. 0.79% 273,735,583 0 N/A 0
person
Industrial and Commercial Bank of
China-GF Double Engines Upgrade Other 0.72% 249,000,000 0 N/A 0
Mixed Type Securities Investment Fund
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BOE Technology Group Co., Ltd. First Quarterly Report 2021 (Summary)
Top 10 unrestricted shareholders
Shares by type
Name of shareholder Unrestricted shares held
Type Shares
Beijing State-owned Capital Operation RMB ordinary
4,063,333,333 4,063,333,333
and Management Center share
Hong Kong Securities Clearing RMB ordinary
2,051,846,141 2,051,846,141
Company Ltd. share
Beijing BOE Investment & RMB ordinary
822,092,180 822,092,180
Development Co., Ltd. share
RMB ordinary
Hefei Jianxiang Investment Co., Ltd. 666,195,772 666,195,772
share
Chongqing Ezcapital Opto-electronic RMB ordinary
463,816,446 463,816,446
Industry Investment Co., Ltd. share
RMB ordinary
Hefei Jianxin Investment Co., Ltd. 452,016,095 452,016,095
share
Beijing Yizhuang Investment Holdings RMB ordinary
388,827,757 388,827,757
Co., Ltd share
China Construction Bank-GF
RMB ordinary
Technology Pioneer Mixed Type 341,531,677 341,531,677
share
Securities Investment Fund
RMB ordinary
Beijing Electronics Holdings Co., Ltd. 273,735,583 273,735,583
share
Industrial and Commercial Bank of
RMB ordinary
China-GF Double Engines Upgrade 249,000,000 249,000,000
share
Mixed Type Securities Investment Fund
1. Beijing State-owned Capital Operation and Management Center held 100% equities of
Beijing Electronics Holdings Co., Ltd.
2. Beijing Electronics Holdings Co., Ltd. held 66.25% equities of Beijing BOE Investment
& Development Co., Ltd. and was its controlling shareholder.
3. After the non-public issuing of BOE in 2014, Hefei Jianxiang Investment Co., Ltd. and
Chongqing Ezcapital Opto-electronic Industry Investment Co., Ltd., by entering into
Implementation Protocol of Voting Right respectively, agreed to maintain all of the shares
Related or acting-in-concert parties
held by them respectively unanimous with Beijing BOE Investment & Development Co.,
among the shareholders above
Ltd. when executing the voting rights of the shareholders.
4. After the non-public issuing of the Company in 2014, Beijing State-owned Capital
Operation and Management Center handed over 70% of the shares directly held by it to
Beijing Electronics Holdings Co., Ltd. for management through Stock Management
Protocol, and Beijing Electronics Holdings Co., Ltd. gained the incidental shareholders’
rights except for disposing right and usufruct of the shares, of which the rest 30% voting
right maintained unanimous with Beijing Electronics Holdings Co., Ltd. through the
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BOE Technology Group Co., Ltd. First Quarterly Report 2021 (Summary)
agreement according to Implementation Protocol of Voting Right.
5. Except for the above relationships, the Company does not know any other connected
party or acting-in-concert party among the top 10 shareholders.
Top 10 ordinary shareholders involved The shares held by Beijing Yizhuang Investment Holdings Co., Ltd. in the Company
in securities margin trading (if any) decreased by 31,709,700 shares due to engaging in securities financing.
Indicate by tick mark whether any of the top 10 ordinary shareholders or the top 10 unrestricted ordinary shareholders of the
Company conducted any promissory repo during the Reporting Period.
□ Yes √ No
No such cases in the Reporting Period.
2. Number of Preferred Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
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BOE Technology Group Co., Ltd. First Quarterly Report 2021 (Summary)
Part III Significant Events
I Changes in Key Financial Statement Line Items and Explanation of why
√ Applicable □ Not applicable
1. Operating revenue rose 108% during Q1 2021 compared to Q1 2020, primarily driven by the rising prices of primary products, the
release of new production capacity, and changes to the consolidation scope in the Reporting Period.
2. Cost of sales rose 77% during Q1 2021 compared to Q1 2020, primarily driven by the expanding operating revenue.
3. Selling expense rose 43% during Q1 2021 compared to Q1 2020, primarily driven by the expanding operating revenue.
4. Administrative expense rose 59% during Q1 2021 compared to Q1 2020, primarily driven by the expanding operating revenue.
5. R&D expense rose 46% during Q1 2021 compared to Q1 2020, primarily driven by greater R&D investments.
6. Financial expenses rose 44% during Q1 2021 compared to Q1 2020, primarily driven by the new projects were transferred into
operation，and changes to the consolidation scope in the Reporting Period.
7. Asset impairment loss declined 105% during Q1 2021 compared to Q1 2020, primarily driven by a decrease in the inventory
valuation allowance according to the lower of cost and net realizable value in the Reporting Period.
8. Other income declined 45% during Q1 2021 compared to Q1 2020, primarily driven by a decrease in government grants in the
Reporting Period.
9. Income tax expense rose 362% during Q1 2021 compared to Q1 2020, primarily driven by an increase in earnings in the Reporting
Period.
10. Accounts receivable as at 31 March 2021 rose 31% compared to 31 December 2020, primarily driven by an increase in amounts
due from customers with expanding operating revenue in the Reporting Period.
11. Net cash generated from operating activities rose 178% during Q1 2021 compared to Q1 2020, primarily driven by an increase in
operating profit with a larger business size.
12. Cash used in investing activities rose 68% during Q1 2021 compared to Q1 2020, primarily driven by the repurchase of
non-controlling interests and an increase in expenses on construction of new projects in the Reporting Period.
II Progress, Influence and Solutions with regard to Significant Events
√ Applicable □ Not applicable
1. On 18 October 2019, the Company disclosed the Announcement on the Company’s Application for CSRC’s Approval for its
Public Issue of Renewable Corporate Bonds (Announcement No. 2019-052), and the Company received the No. [2019] 1801
Approval from CSRC. Based on the approval, the Company could publicly issue the renewable corporate bonds with the nominal
value no more than RMB30 billion to qualified investors. The Company publicly issued renewable corporate bonds (to qualified
investors) (the first issue) (“19BOEY1” for short; Code: 112741) in 2019 with the issue term from 28 October 2019 to 29 October
2019, the issuing scale of RMB8 billion and the bonds’ ultimate nominal interest rate of 4.0%. The Company publicly issued
renewable corporate bonds (to qualified investors) (the first issue) (epidemic prevention and control bonds) (“20BOEY1” for short;
Code: 149046) in 2020 with the issue term from 27 February 2020 to 28 February 2020, the issuing scale of RMB2 billion and the
bonds’ ultimate nominal interest of 3.64%. The Company publicly issued the renewable corporate bonds (to qualified investors) (the
second issue) (epidemic prevention and control bonds) (“20BOEY2” for short; Code: 149065) in 2020 with the issue term from 18
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BOE Technology Group Co., Ltd. First Quarterly Report 2021 (Summary)
March 2020 to 19 March 2020, the issuing scale of RMB2 billion and the bonds’ ultimate nominal interest of 3.54%. The Company
publicly issued the renewable corporate bonds (to qualified investors) (the third issue) (epidemic prevention and control bonds)
(“20BOEY3” for short; Code: 149108) in 2020 with the issue term from 24 April 2020 to 27 April 2020, the issuing scale of RMB2
billion and the bonds’ ultimate nominal interest of 3.50%. The Company disclosed 2021 "20BOEY1" Interest Payment
Announcement (Announcement No. 2021-016) on 23 February 2021. BOE Public Issuance of Renewable Corporate Bonds (to
Qualified Investors) (the First Issue) (epidemic prevention and control bonds) in 2020 was one year old until 27 February 2021.
According to the regulations, interest will be paid once a year during the interest-bearing period. The interest payment plan is
RMB36.40 (including tax) per 10 bonds. The Company disclosed 2021 "20BOEY2" Interest Payment Announcement (Announcement
No. 2021-018) on 17 March 2021. BOE Public Issuance of Renewable Corporate Bonds (to Qualified Investors) (the Second Issue)
(pandemic prevention and control bonds) in 2020 was one year old until 18 March 2021. According to the regulations, interest will
be paid once a year during the interest-bearing period. The interest payment plan is RMB35.40 (including tax) per 10 bonds. The
Company disclosed 2020 "20BOEY3" Interest Payment Announcement (Announcement No. 2021-035) on 23 April 2021. BOE
Public Issuance of Renewable Corporate Bonds (to Qualified Investors) (the Third Issue) in 2020 was one year old until 27 April
2021. According to the regulations, interest will be paid once a year during the interest-bearing period. The interest payment plan is
RMB35.00 (including tax) per 10 bonds.
2. The Company’s wholly-owned subsidiary BOE Technology (HK) Limited filed a lawsuit on the sales contract dispute to the
superior people’s court in Beijing, and the defendants included LETV Mobile Intelligent Information Technology (Beijing) Co., Ltd.
(hereinafter referred to as “LETV Mobile”), LETV Holdings (Beijing) Co., Ltd., Le Sai Mobile Technology (Beijing) Co., Ltd. and
Jia Yueting with the claimed amount of USD41.84 million in total. However, Beijing Municipal Superior People’s Court respectively
issued the Notice of Acceptance and the Civil Ruling Paper on Property Preservation on July 6, 2017 and July 31, 2017. LETV
Mobile ever put forward the jurisdiction objection to Beijing Municipal Superior People’s Court, which was rejected, and then
launched a lawsuit on the judgment of the jurisdiction objection to the Supreme People’s Court. Finally, the Supreme People’s Court
made the final ruling, rejected the appeal of LETV Mobile and affirmed the original judgment. On 8 March 2019, the first hearing
was held in Beijing Municipal Superior People’s Court. On 19 February 2020, Beijing Municipal Superior People’s Court issued the
first instance judgment:
(1) The defendant (LETV Mobile Intelligent Information Technology (Beijing) Co., Ltd.) shall pay the plaintiff (BOE Technology
(HK) Limited) the owed principal USD36,940,476.77 and the resulting interests (regarding the principal USD12,871,274.5 as the
interest basis from 8 September 2016 to 1 March 2017, USD12,144,001.77 from 2 March 2017 to the actual payment day,
USD16,172,935 from October 13, 2016 to the actual payment day, USD8,488,690 from November 10, 2016 to the actual payment
day, and US134,850 from 8 December 2016 to the actual payment day; the annual interest rate shall be 6% (365 days)), as well as the
liquidated damages (regarding the principal USD2,052,248.71 as the basis from 30 April 2017 to 1 July 2017, USD2,052,248.71
from 31 May 2017 to 1 July 2017, USD2,052,248.71 from 30 June 2017 to 1 July 2017, and USD36,940,476.77 from 2 July 2017 to
the actual payment day; the penalty standard was 0.03% per day); under the Installment Payment Agreement within 10 days after the
judgment took effect;
(2) The defendant LETV Holdings (Beijing) Co., Ltd. shall burden the joint and several guarantee for the debt owed by LETV
Mobile Intelligent Information Technology (Beijing) Co., Ltd. Defined in the judgment (Item I);
(3) After the Defendant LETV Holdings (Beijing) Co., Ltd. burdens the joint and several guarantee related to Item II, LETV
Holdings (Beijing) Co., Ltd. shall have the right to claim compensation from LETV Mobile Intelligent Information Technology
(Beijing) Co., Ltd.;
(4) The defendant(LETV Mobile Intelligent Information Technology (Beijing) Co., Ltd.) shall pay the plaintiff (BOE Technology
(HK) Limited) the owed principal USD2,459,090.91 and the resulting interests (regarding the principal USD2,459,090.91 as the
interest basis from 27 May 2017 to 19 August 2019 with the PBC’s benchmark interest rate for loan during the same period as the
standard; USD2,459,090.91 from August 20, 2019 to the actual payment day with the quoted interest rate of the loan market issued
by the national inter-bank offer center as the standard; the year shall have 365 days) under the Purchase Order with the goods
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BOE Technology Group Co., Ltd. First Quarterly Report 2021 (Summary)
payment USD2.75 million;
(5) Other claims of the plaintiff (BOE Technology (HK) Limited) shall be rejected.
If the defendant LETV Mobile Intelligent Information Technology (Beijing) Co., Ltd. and LETV Holdings (Beijing) Co., Ltd. fails to
fulfill their payment obligation as scheduled in the judgment, the Defendant shall pay the double debt interests during the delayed
period according to Article 253 of Civil Procedure Law of the People’s Republic of China.
The litigation fee was RMB1,465,371.63, of which, RMB5,371.63 shall be paid by the plaintiff BOE Technology (HK) Limited
(already paid), and RMB1.46 million shall be jointly burdened by LETV Mobile Intelligent Information Technology (Beijing) Co.,
Ltd. and LETV Holdings (Beijing) Co., Ltd. (payment within 7 days after the judgment took effect); the preservation fee was
RMB5000, which shall be jointly burdened by LETV Mobile Intelligent Information Technology (Beijing) Co., Ltd. and LETV
Holdings (Beijing) Co., Ltd. (payment within 7 days after the judgment took effect).
On 17 March 2020, BOE Technology (HK) Limited received the petition for appeal submitted by LETV Holdings (Beijing) Co., Ltd.
to the court. LETV Holdings (Beijing) Co., Ltd. failed to pay the fee for the appeal it had instituted. The Supreme People’s Court
made the judgment that the case was treated as that the appellant LeTV Holdings (Beijing) Co., Ltd. automatically withdrew the
appeal on 8 July 2020. And the judgment of the first instance will take effect since the date when the written order is served. BOE
Technology (HK) Limited has submitted the Application for Execution to Beijing High People’s Court and the court has accepted the
execution application. On 24 December 2020, the Beijing No. 3 Intermediate People's Court made an Application for Execution that
LeTV Mobile Intelligent Information Technology (Beijing) Co., Ltd, and LeTV Holdings (Beijing) Co., Ltd. had been included in the
list of defaulters, and the court ruled to terminate this enforcement because the defaulters had no property available for execution.
The Company has calculated corresponding bad-debt provision for the account receivables equaling the above-mentioned claimed
amount according to the accounting standards, which has uncertain influence on the Company.
3. On 16 January 2021, the Company disclosed the Announcement on the Resolution of the 21st Meeting of the 9th Board of Directors
(Announcement No.: 2021-001) and the Plan of Private Placement of A-Shares in 2021. According to the disclosure, the Company
intended to privately issue A-shares for no more than 35 special investors including Beijing Jingguorui State-owned Enterprise
Reform and Development Fund (Limited Partnership) for raised funds with net amount not exceeding RMB20 billion. The raised
funds will be used to acquire 24.06% equity in Wuhan BOE Optoelectronics Technology Co., Ltd., increase the capital in Chongqing
BOE Display Technology Co., Ltd. & construct the project of its 6G AMOLED Production Line, increase the capital in Yunnan
Chuangshijie Optoelectronics Technology Co., Ltd. & construct the project of 12-inch Si-based OLED, increase the capital in
Chengdu BOE Hospital Co., Ltd. & construct the project of Chengdu BOE Hospital, repay the loan of Fuzhou Urban Construction
Investment Group Co., Ltd., and supplement the working capital. On 10 February 2021, the Company disclosed the Announcement
on Receiving the Reply of SASAC regarding Private Placement of A-Shares in 2021 (Announcement No.: 2021-014). According to
the disclosure, the Company received the notice from its actual controller Beijing Electronics Holding Co., Ltd. saying the latter had
received the Reply on Private Placement of Shares by BOE Technology Group Co., Ltd. (JGZCQ[2021]No. 5) from State-owned
Assets Supervision and Administration Commission of People’s Government of Beijing Municipality who agreed the overall plan of
this private placement of shares not exceeding 6,959,679,752 shares in principle. On 1 April 2021, the Company disclosed the
Announcement on Applying the Acceptance of China Securities Regulatory Commission (CSRC) regarding the Private Placement of
A-Shares in 2021 (Announcement No.: 2021-021). According to the disclosure, CSRC inspected the application materials regarding
the private placement of A-Shares by listed company submitted by the Company in conformity with legal provisions and decided to
accept the administrative license application. On 12 April 2021, the Company disclosed the Announcement on Receiving the Notice
of First Review Feedback on Administrative Licensing Projects from the China Securities Regulatory Commission (CSRC)
(Announcement No.: 2021-023). According to the disclosure, the CSRC reviewed the administrative licensing application materials
submitted by the Company regarding the Approval of BOE Technology Group Co., Ltd. on the Private Placement of Shares
(A-Shares in the Main Board and SME Board, and B-Shares) by Listed Companies, required the Company and related agency to
provide written explanations and interpretations on relevant issues and to submit a written reply to the administrative license
acceptance department of the CSRC within 30 days. On 27 April 2021, the Company disclosed the Announcement on Delayed Reply
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BOE Technology Group Co., Ltd. First Quarterly Report 2021 (Summary)
on the Notice of First Review Feedback on Administrative Licensing Projects from the China Securities Regulatory Commission
(CSRC) (Announcement No.: 2021-036). According to the disclosure, it is estimated that the Company will be unable to submit a
written reply to the CSRC within 30 days. After the prudent communication with related agency, the Company has submitted the
delayed reply application. And the Company will submit a written reply and application files with updated financial data before 8
June 2021 with related agency and perform the information disclosure obligation in time.
4. On 23 March 2021, the Company disclosed the Announcement on the Resolution of the 24th Meeting of the 9th Board of Directors
(Announcement No.: 2021-019). According to the disclosure, Mr. Zhang Yu was appointed as Vice President, CHRO and
Professional Manager by the Board with his tenure from the approval date by the Board to the expiration of the tenure of the 9th
Board of Director; and Ms. Su Xuefei was appointed as Securities Affairs Representative with her tenure from the approval date by
the Board to the expiration of the tenure of the 9th Board of Directors.
5. On 13 April 2021, the Company disclosed the Announcement on the Resolution of the 25th Meeting of the 9th Board of Directors
(Announcement No.: 2021-0xx) and the Announcement on the Departure of an Independent Director at Tenure Expiration and the
Selection of a Replacement Independent Director (Announcement No.: 2021-0xx). According to the disclosure, Mr. Wang Huacheng
applied for departing from his position as Independent Director of the Company and other positions in related committees under the
Board due to the expiration of his tenure as Independent Director. At the 25 th Meeting of the 9th Board of Directors, the Company
considered and approved the Proposal on Selecting Mr. Zhang Xinmin as an Independent Director of the 9 th Board of Directors, and
nominated Mr. Zhang Xinmin as a candidate for Independent Director of the 9th Board of Directors.
Index to disclosure website
Overview of significant events Disclosure date
for interim report
Announcement on Being Transferred Some Equity of Mianyang BOE
27 January 2021 www.cninfo.com.cn
Optoelectronics Technology Co., Ltd.
Announcement on Investing the Production Line Expansion of Advanced
23 March 2021 www.cninfo.com.cn
Generation TFT-LCD by Wuhan BOE Optoelectronics Technology Co., Ltd.
Progress of any share repurchases:
□ Applicable √ Not applicable
Progress of any reduction of the repurchased shares through centralized bidding:
□ Applicable √ Not applicable
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BOE Technology Group Co., Ltd. First Quarterly Report 2021 (Summary)
III Commitments that the Company’s Actual Controller, Shareholders, Related Parties, Acquirers, the Company Itself or Other Parties,
Failed to Fulfill on Time during the Reporting Period
√ Applicable □ Not applicable
Date of
Type of
Commitment Promisor Details of commitment commitment Term of commitment Fulfillment
commitment
making
Commitments made in share - - - -
- -
reform
Commitments made in - - - - - -
acquisition documents or
shareholding alteration
documents
Commitments made in time - - - - - -
of asset restructuring
Commitments made in time - - - - - -
of IPO or refinancing
Equity incentive - - - - - -
commitments
The Chairman of the Board: In accordance with the Announcement on the Commitments of
During the term as
Mr. Chen Yanshun not Reducing the Shareholding by Some Directors, Supervisors
director, supervisor or
Vice Chairman of the Board: and Senior Management (No.: 2020-001) disclosed by the
senior manager, and in
Other commitments made to Mr. Liu Xiaodong Director: Other Company on 22 February 2020, some of the Company’s 21 February
six months after the Ongoing
minority interests Ms. Sun Yun and Mr. Gao commitments directors, supervisors and senior managers, based on their 2020
expiration of the term
Wenbao confidence in the Company’s future development and their
(the term determined
Supervisor: Mr. Xu recognition of the corporate value, promise not to reduce or
when taking office).
Yangping, Mr. He Daopin, transfer any shares held in BOE (A shares), not to entrust others
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BOE Technology Group Co., Ltd. First Quarterly Report 2021 (Summary)
Mr. Yan Jun and Mr. Teng to manage specific shares, not to authorize others to execute their
Jiao voting right by means of any agreement, trust or other
Senior Management: Mr. Yao arrangements and not to require the Company to repurchase any
Xiangjun, Mr. Zhang specific shares during the terms of office and within 6 months
Zhaohong, Mr. Zhong after their tenures expire so as to promote the Company’s
Huifeng, Ms. Feng Liqiong, continuous, stable and healthy development and maintain the
Mr. Xie Zhongdong, Mr. rights and interests of the Company and all shareholders. For any
Miao Chuanbin and Mr. Liu newly-added shares derived from the assignment of rights and
Hongfeng interests including the share donation and the reserved funds
converted into share capital during the period (corresponding to
the specific shares), they shall still keep their promises till the
commitment period expires.
Executed on time or not Yes
Specific reasons for failing
to fulfill commitments on N/A
time and plans for next step
IV Financial Investments
1. Securities Investments
√ Applicable □ Not applicable
Unit: RMB
Gain/loss
of changes Accumulative Purchased Gain/loss
Accounting Sold in the
Variety of Symbol of Name of Initial Beginning in fair changes in fair in the in Ending Accounting Capital
measurement Reporting
security security security investment cost carrying value value in the value recorded Reporting Reporting carrying value title source
model Period
Reporting into equities Period Period
Period
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BOE Technology Group Co., Ltd. First Quarterly Report 2021 (Summary)
Other
Domestic and Electronic Fair value equity Self-owned
SH600658 90,160,428.00 74,372,840.00 0.00 -21,011,558.00 0.00 0.00 0.00 69,148,870.00
overseas stock Zone method instruments funds
investment
Other
Domestic and Bank of Fair value equity Self-owned
HK01963 128,514,251.00 102,845,668.00 0.00 -15,012,811.00 0.00 0.00 0.00 113,501,440.00
overseas stock Chongqing method instruments funds
investment
Other
New
Domestic and Fair value equity Self-owned
HK01518 Century 134,067,764.00 36,995,513.00 0.00 -103,621,474.00 0.00 0.00 0.00 30,446,290.00
overseas stock method instruments funds
Healthcare
investment
Other securities investments held at the
0.00 -- 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -- --
period-end
Total 352,742,443.00 -- 214,214,021.00 0.00 -139,645,843.00 0.00 0.00 0.00 213,096,600.00 -- --
Disclosure date of the announcement
about the board’s consent for the N/A
securities investment
Disclosure date of the announcement
about the general meeting’s consent for N/A
the securities investment (if any)
13
BOE Technology Group Co., Ltd. First Quarterly Report 2021 (Summary)
2. Investments in Derivative Financial Instruments
√ Applicable □ Not applicable
Unit: RMB’0,000
Ending
Rela Imp
investmen
ted- airm
Relation t amount Actual
part Purchased ent
ship Initial Beginning Sold in the Ending as % of gain/loss
Counterp y Type of Start End in the allo
with the investment investment Reporting investment the in the
arty trans derivative date date Reporting wan
Compan amount amount Period amount Company’ Reportin
actio Period ce
y s ending g Period
n or (if
net asset
not any)
value
Foreign
Financial Not 1 31
exchange
institutio related Not 118,687.93 January March 118,687.93 20,557.92 43,304.87 - 95,940.98 0.54% -282.36
forward
ns parties 2021 2021
contract
Total 118,687.93 -- -- 118,687.93 20,557.92 43,304.87 - 95,940.98 0.54% -282.36
Funding source Self-funded
Legal matters involved (if
N/A
applicable)
Analysis of risks and control As of the end of the reporting period, the financial derivatives held by the company are foreign exchange
measures associated with the forward contracts, and the risks faced are related to the uncertainty of the foreign exchange market in the
derivative investments held in the future. The company's control measures for the financial derivatives are as follows: the company controls
Reporting Period (including but not the types of derivative transactions, reasonably matches the scale of derivative transactions, and the
limited to market, liquidity, credit, transactions must match the company's production, operation and development planning, mainly for the
operational and legal risks, etc.) purpose of cost locking and risk prevention.
Changes in market prices or fair
value of derivative investments in
the Reporting Period (fair value The fair value of the invested derivatives at the end of the reporting period shall be determined by
analysis should include reference to the market quotation of the external financial institutions.
measurement methods and related
assumptions and parameters)
Significant changes in accounting
policies and specific accounting
principles adopted for derivative
No major changes
investments in the Reporting Period
compared to the last reporting
period
Opinion of independent directors on
N/A
derivative investments and risk
14
BOE Technology Group Co., Ltd. First Quarterly Report 2021 (Summary)
control
V Progress of Projects Financed with Raised Funds
√ Applicable □ Not applicable
Unit: RMB’0,000
Change Accumulat
Investme Whether
d or not Investmen ive Investment Date of Realized Whether
Committe nt occurred
Committed investment (includi t amount investment schedule as reaching income in reached
d amount significant
project and super raise ng after amount as the intended the anticipat
investmen in the changes in
fund arrangement partial adjustmen of the period-end use of the Reporting ed
t amount Reportin project
change t (1) period-end (3)＝(2)/(1) project Period income
g Period feasibility
s) (2)
Committed investment project (19BOEY1)
Capital increase to
Not 450,000 445,600 - 445,600 100.00% Naught N/A N/A Not
subsidiries
Repayment of bank loan Not 350,000 350,000 - 350,000 100.00% Naught N/A N/A Not
Subtotal of committed
-- 800,000 795,600 - 795,600 -- -- N/A -- --
investment project
Committed investment project (20BOEY1)
Capital increase to
Not 200,000 198,900 - 198,900 100.00% Naught N/A N/A Not
subsidiries
Repayment of bank loan -- 200,000 198,900 - 198,900 -- -- N/A -- --
Committed investment project (20BOEY2)
Capital increase to
Not 200,000 198,878 - 198,878 100.00% Naught N/A N/A Not
subsidiries
Repayment of bank loan -- 200,000 198,878 - 198,878 -- -- N/A -- --
Committed investment project (20BOEY3)
Capital increase in
Not 180,000 180,000 - 180,000 100.00% Naught N/A N/A Not
subsidiaries
Supplement to working
No 20,000 18,888 - 18,888 100.00% Naught N/A N/A Not
capital
Subtotal of committed
-- 200,000 198,888 - 198,888 -- -- N/A -- --
investment projects
Total committed
-- 1,400,000 1,392,266 - 1,392,266 -- -- -- --
investment projects
Condition and reason for
No such cases in the Reporting Period.
not reaching the
15
BOE Technology Group Co., Ltd. First Quarterly Report 2021 (Summary)
schedule and anticipated
income (by specific
items)
Notes of condition of
significant changes
Naught
occurred in project
feasibility
As of 31 March 2021, the Company swapped, with subsequent raised funds, a total of advance investments of
Advance investments in
RMB4,515 million in projects financed with raised funds. To be specific, the funds raised in the first tranche of
projects financed with
renewable corporate bonds of 2019 were swapped with advance investments of RMB785 million, the funds
raised funds and swaps
raised in the first tranche of renewable corporate bonds of 2020 were swapped with advance investments of
of such advance
RMB1,600 million, the funds raised in the second tranche of renewable corporate bonds of 2020 were swapped
investments with
with advance investments of RMB1,200 million, and the funds raised in the third tranche of renewable
subsequent raised funds
corporate bonds of 2020 were swapped with advance investments of RMB930 million.
Idle fund supplementing
the current capital N/A
temporarily
Amount of surplus in
The total amount of raised funds was used up. As of 31 March 2021, the balance in the raised funds account
project implementation
was RMB8.1381 million, which were interest accrued.
and the reasons
Usage and destination of
Naught
unused funds
Problems incurred in
fund using and
Naught
disclosure or other
condition
VI Operating Performance Forecast for January-June 2021
Warning of a forecast loss on or a forecast significant YoY change in accumulative net profit from the beginning of the year to the
end of the next reporting period, as well as explanation of why:
□ Applicable √ Not applicable
VII Significant Contracts Arising from the Company’s Ordinary Course of Business
□ Applicable √ Not applicable
VIII Cash Entrusted for Wealth Management
√ Applicable □ Not applicable
Unit: RMB’0,000
16
BOE Technology Group Co., Ltd. First Quarterly Report 2021 (Summary)
Specific type Capital resources Amount incurred Undue balance Overdue amount
Bank financial products and structured deposit Self-owned funds 501,500 320,400 0
Total 501,500 320,400 0
Note: The amount incurred of cash entrusted for wealth management refers to the maximum balance of such wealth management on
a single day during the Reporting Period.
High-risk wealth management transactions with a significant single amount, or with low security, low liquidity or no principal
protection:
□ Applicable √ Not applicable
Wealth management transactions with possible impairments including an expectedly unrecoverable principal:
□ Applicable √ Not applicable
IX Irregularities in the Provision of Guarantees
□ Applicable √ Not applicable
No such cases in the Reporting Period.
X Occupation of the Company’s Capital by the Controlling Shareholder or any of Its Related
Parties for Non-Operating Purposes
□ Applicable √ Not applicable
No such cases in the Reporting Period.
XI Communications with the Investment Community such as Researches, Inquiries and
Interviews Received during the Reporting Period
√ Applicable □ Not applicable
Way of Type of the Main discussions and Index to the
Communication
Date Place communic communication materials provided by the relevant
party
ation party Company information
Penghua Fund,
Main content:
China
1. Main situation of the
11 March 2021 Teleconference By phone Institution International Fund
industry; www.cninfo.com.cn
Management Co.,
Ltd. 2. Major operating
information of the Company.
11 March 2021 Teleconference By phone Institution Xuzhang Investment
Chairman of the Board (signature)：Chen Yanshun
Date of the Board’s approval of this Report: 29 April 2021
17
