BOE Technology Group Co., Ltd. Annual Report 2021 (Summary)
Stock Code: 000725, 200725 Stock Name: BOE-A, BOE-B Announcement No. 2022-033
BOE TECHNOLOGY GROUP CO., LTD.
ANNUAL REPORT 2021 (SUMMARY)
Part I Important Notes
This Summary is based on the full Annual Report of BOE Technology Group Co., Ltd. (together with its consolidated subsidiaries,
the “Company”, except where the context otherwise requires). In order for a full understanding of the Company’s operating results,
financial position and future development plans, investors should carefully read the aforesaid full text, which has been disclosed
together with this Summary on the media designated by the China Securities Regulatory Commission (the “CSRC”).
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. hereby guarantee the factuality, accuracy and completeness of the contents of this Report and its
summary, and shall be jointly and severally liable for any misrepresentations, misleading statements or material omissions therein.
Mr. Chen Yanshun, the Company’s legal representative, Mr. Liu Xiaodong, President, Ms. Sun Yun, Chief Financial Officer, and Ms.
Yang Xiaoping, head of the financial department (equivalent to financial manager) hereby guarantee that the Financial Statements
carried in this Report are factual, accurate and complete.
All the directors of the Company except for the following attended in person the Board meeting for the review of this Report and its
summary.
Reason for not attending the Proxy entrusted to attend the
Name Office title
meeting in person meeting
Song Jie Director Due to work Sun Yun
Independent auditor’s modified opinion:
□ Applicable √ Not applicable
Board-approved final cash and/or stock dividend plan for ordinary shareholders:
√ Applicable □ Not applicable
Bonus issue from capital reserves:
□ Yes √ No
The Board has approved a final dividend plan for the ordinary shareholders for the Reporting Period. Based on 37,917,560,430
shares, a cash dividend of RMB2.10 (tax inclusive) per 10 shares is to be distributed to all the shareholders, with no bonus issue from
either profit or capital reserves.
Board-approved final cash and/or stock dividend plan for preference shareholders:
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BOE Technology Group Co., Ltd. Annual Report 2021 (Summary)
□ Applicable √ Not applicable
This Report and its summary have been prepared in both Chinese and English. Should there be any discrepancies or
misunderstandings between the two versions, the Chinese versions shall prevail.
Part II Key Corporate Information
1. Stock Profile
Stock name BOE-A, BOE-B Stock code 000725, 200725
Stock exchange for stock listing Shenzhen Stock Exchange
Changed stock name (if any) N/A
Contact information Board Secretary Securities Representative
Name Liu Hongfeng -
12 Xihuan Middle Road, Beijing
Office Address Economic-Technological Development Area, -
P.R.China
Fax 010-64366264 -
Tel. 010-64318888 ext. -
E-mail address liuhongfeng@boe.com.cn -
2. Principal Activities or Products in the Reporting Period
BOE Technology Group Co., Ltd. is an loT company providing intelligent interface products and professional services for
information interaction and human health. After years of professional cultivation, the Company has developed into a global leader in
the field of semiconductor display and a global innovative enterprise in the field of the Internet of Things. Based on a deep
understanding of the intrinsic laws of the market and practical exploration, and in order to further enhance the Company’s value
creation capability, BOE has proposed the development strategy of " Screen-Connected IoT " based on its core genes and capabilities,
seizing the ubiquitous growth opportunities of "screen", and fully leveraging its core advantage of "screen" to integrate screens into
more market segments and application scenarios by integrating more functions, inserting more scenarios, and deriving more forms.
By doing so, BOE will realize the user perception revolution of "screen as terminal" in the digital era, build an industrial ecology of
"screen as platform and screen as system", and reshape the value growth model. At the same time, based on the strategic design of "
Screen-Connected IoT ", BOE will bring a new connotation to the "1+4+N" development structure under the new development
pattern.
"1" is the mother ship platform with the capabilities and resources of Display Devices business as the core, which is the core capacity
and quality resources accumulated by BOE, as well as the source and origin of the Company's transformation and development.
"4" is the cruiser layers, which is a high-potential channel and direction of development selected based on BOE's core competence and
value chain extension, as well as the four main fronts of the Company's IoT transformation, namely the IoT Innovation business, the
Sensor and Solution business, the MLED business and the Smart Medical Engineering business.
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BOE Technology Group Co., Ltd. Annual Report 2021 (Summary)
"N" is the landing ship layer based on the "1+4" core technology products, which are the subdivided application scenarios of IoT that
are continuously explored and cultivated by BOE, as well as the specific focus of the Company's IoT transformation development.
The Company's core business includes:
1. Display Devices business
The Display Devices business offers integrated design and manufacturing services for devices, and is committed to providing
interface devices applying TFT-LCD, AMOLED, Oxide, Microdisplay and other technologies, focusing on providing customers with
high-quality display devices such as smartphones, tablet PCs, laptops, monitors, TVs, vehicle-mounted, electronic shelf label (ESL),
tiled display screens, industrial control, wearable devices, VR/AR devices, electronic tags, white goods, healthcare, mobile payment,
and interactive whiteboards.
2. IoT Innovation business
The IoT Innovation business offers integrated design and manufacturing services for system solutions, and provides customers with
competitive TVs, monitors, laptops, tablets, low-power, IoT, 3D display and other smart terminal products. Backed by AI and big
data, it focuses on products and services combining hardware and software, and provides smart finance, smart parks, smart
government, smart transportation, urban light space, smart energy The company also provides total solutions in the field of IoT
segments such as smart finance, smart industrial parks, smart government affairs, smart transportation, city light space, smart energy
and other IoT solutions, as well as overall solutions for areas such as whole and large-size products.
3. Sensor and Solution business
The Sensor and Solution business offers integrated design and manufacturing services for system solutions, focuses on medical
biological detection, transportation and construction, consumer electronics, microwave communications, industrial sensing and other
fields, and provides customers with integrated design and manufacturing of sensor devices and system solution services, with specific
products and solutions including flat panel X-ray detectors (FPXD), digital microfluidic chips, PDLC glass, fingerprint identification
systems and industrial sensors.
4. MLED business
MLED business renders Mini-LED backlight products with high reliability and high partition of dimming for LCD of mobile phones,
tablet PCs, laptops, monitors, TVs, vehicles, wearable devices, etc., as well as Mini/Micro-LED display products with high
brightness, high reliability and high contrast for segment markets of outdoor, commercial, transparent, specialized and other displays.
All these products are designed and manufactured in an integrated manner.
5. Smart Medical Engineering business
The Smart Medical Engineering business adopts the professional service model to combine technologies with medicine and integrate
medicine and engineering with innovation, so as to provide families, communities and hospitals with the four major human-centered
services of health management, health technology, digital hospital, and technology services. It connects testing equipment, healthcare
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BOE Technology Group Co., Ltd. Annual Report 2021 (Summary)
workers and customers through the health IoT platform to build a smart health management ecosystem where customers enjoy health
services including prevention, treatment, therapy and nursing.
3. Key Financial Information
(1) Key Financial Information of the Past Three Years
Indicate by tick mark whether there is any retrospectively restated datum in the table below.
√ Yes □ No
Reason for retrospective restatement:
Change of accounting policy.
Unit: RMB
Change of
31
December
31 December 2020 2021 over 31 December 2019
Item 31 December 2021 31
December
2020 (%)
Before Restated Restated Before Restated
Total assets 449,726,980,355.00 424,256,806,331.00 424,256,806,331.00 6.00% 340,412,203,308.00 340,412,203,308.00
Equity attributable
to the listed
142,925,547,899.00 103,276,766,835.00 103,276,766,835.00 38.39% 95,058,129,055.00 95,058,129,055.00
company’s
shareholders
2021-over-2
2020 020 change 2019
Item 2021 (%)
Before Restated Restated Before Restated
Operating revenue 219,309,799,505.00 135,552,569,729.00 135,552,569,729.00 61.79% 116,059,590,164.00 116,059,590,164.00
Net profit
attributable to the
25,830,935,500.00 5,035,627,952.00 5,035,627,952.00 412.96% 1,918,643,871.00 1,918,643,871.00
listed company’s
shareholders
Net profit
attributable to the
listed company’s
23,937,539,752.00 2,670,454,834.00 2,670,454,834.00 796.38% -1,166,793,317.00 -1,166,793,317.00
shareholders
before exceptional
gains and losses
Net cash
generated
from/used in 62,270,556,324.00 39,251,773,458.00 39,251,773,458.00 58.64% 26,083,079,194.00 26,083,079,194.00
operating
activities
Basic earnings per
share 0.71 0.13 0.13 446.15% 0.05 0.05
(RMB/share)
Diluted earnings
per share 0.71 0.13 0.13 446.15% 0.05 0.05
(RMB/share)
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BOE Technology Group Co., Ltd. Annual Report 2021 (Summary)
Weighted average
return on equity 23.84% 5.15% 5.15% 18.69% 2.16% 2.16%
(%)
Reason for accounting policy change and correction of accounting error:
In accordance with the Q&A on the implementation of fixed asset repair charge issued by the Ministry of Finance, the Group
recorded routine repair charges of fixed assets that do not meet the subsequent expense conditions after the capitalization of fixed
assets in current profit or loss or the cost of underlying assets as incurred in accordance with the objects to be benefited, and treated
such repair charges related to the production and processing of inventories in accordance with the principles for determining the cost
of inventories. The Group has changed the relevant accounting policy using the retrospective adjustment method. The above change
in accounting policy has no impact on the various items of major accounting data and financial indicators for 2020.
(2) Key Financial Information by Quarter
Unit: RMB
Item Q1 Q2 Q3 Q4
Operating revenue 49,655,379,519.00 57,629,947,507.00 55,993,022,701.00 56,031,449,778.00
Net profit attributable to the listed
5,182,037,171.00 7,579,987,797.00 7,253,390,635.00 5,815,519,897.00
company’s shareholders
Net profit attributable to the listed
company’s shareholders before 4,484,934,082.00 7,176,682,690.00 6,937,108,280.00 5,338,814,700.00
exceptional gains and losses
Net cash generated from/used in
14,522,832,708.00 18,222,355,631.00 12,006,193,144.00 17,519,174,841.00
operating activities
Indicate by tick mark whether any of the quarterly financial data in the table above or their summations differs materially from what
have been disclosed in the Company’s quarterly or interim reports.
□ Yes √ No
4. Share Capital and Shareholder Information at the Period-End
(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
1,661,753 (including
shareholders at the 1,646,433 (including 1,608,539
Number of ordinary shareholders at the 1,623,582 A-shareholders
month-end prior to A-shareholders and 37,894
period-end and 38,171
the disclosure of this B-shareholders)
B-shareholders)
Report
Top 10 shareholders
Shares in pledge,
Nature of Shareholdin Total shares held at Restricted marked or frozen
Name of shareholder
shareholder g percentage the period-end shares held
Status Shares
Beijing State-owned Capital Operation and State-owned
10.57% 4,063,333,333 0 N/A 0
Management Company Limited legal person
Foreign
Hong Kong Securities Clearing Company Ltd. 3.56% 1,368,997,836 0 N/A 0
legal person
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BOE Technology Group Co., Ltd. Annual Report 2021 (Summary)
Beijing BOE Investment & Development Co., State-owned
2.14% 822,092,180 0 N/A 0
Ltd. legal person
Beijing Jing Guorui Soe Reform and
Other 1.87% 718,132,854 718,132,854 N/A 0
Development Fund (L.P.)
State-owned
Hefei Jianxiang Investment Co., Ltd. 1.73% 666,195,772 0 N/A 0
legal person
Domestic
non-state-o
Fuqing Huirong Venture Capital Co., Ltd. 1.40% 538,599,640 538,599,640 N/A 0
wned legal
person
Chongqing Ezcapital Opto-electronics Industry State-owned
0.85% 326,229,746 0 N/A 0
Investment Co., Ltd. legal person
Sinatay Life Insurance Co., Ltd.-Traditional
Other 0.79% 305,330,128 89,766,606 N/A 0
Product
State-owned
Beijing Electronics Holdings Co., Ltd. 0.71% 273,735,583 0 N/A 0
legal person
MORGAN STANLEY & CO. Foreign
0.71% 271,657,232 271,095,152 N/A 0
INTERNATIONAL PLC. legal person
1. Beijing State-owned Capital Operation and Management Company Limited held 100%
equities of Beijing Electronics Holdings Co., Ltd.
2. Beijing Electronics Holdings Co., Ltd. held 66.25% equities of Beijing BOE
Investment & Development Co., Ltd. and was its controlling shareholder.
3. After the non-public issuing of BOE in 2014, Hefei Jianxiang Investment Co., Ltd. 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 held by them respectively unanimous with Beijing BOE Investment &
Development Co., 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 Company Limited handed over 70% of the shares directly
held by it to Beijing Electronics Holdings Co., Ltd. for management through Stock
Management Protocol, and Beijing Electronics Holdings Co., Ltd. gained the incidental
shareholders’ rights except for disposing right and usufruct of the shares, of which the
Related or acting-in-concert parties among the
rest 30% voting right maintained unanimous with Beijing Electronics Holdings Co., Ltd.
shareholders above
through the agreement according to Implementation Protocol of Voting Right.
5. During the non-public issuing of the Company in 2021, Beijing Jing Guorui Soe
Reform and Development Fund (L.P.) signed the Acting-in-Concert Agreement with
Beijing Electronics Holdings Co., Ltd.
6. Beijing State-owned Capital Operation and Management Company Limited indirectly
held 100% equities of Beijing Jingguorui Investment Management Co., Ltd. and directly
held 77.5918% shares of Beijing Jing Guorui Soe Reform and Development Fund (L.P.);
Beijing Jingguorui Investment Management Co., Ltd. is the general partner of Beijing
Jing Guorui Soe Reform and Development Fund (L.P.). In addition, among the nine
members of the Investment Decision-Making Committee of Beijing Jing Guorui Soe
Reform and Development Fund (L.P.), three are nominated by Beijing State-owned
Capital Operation and Management Company Limited.
7. Except for the above relationships, the Company does not know any other connected
party or acting-in-concert party among the top 10 shareholders.
Shareholders involved in securities margin The shares held by Beijing Yizhuang Investment Holdings Co., Ltd. in the Company
trading (if any) decreased by 119,705,000 shares due to engaging in securities margin trading.
(2) Number of Preferred Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
No preferred shareholders in the Reporting Period.
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BOE Technology Group Co., Ltd. Annual Report 2021 (Summary)
(3) Ownership and Control Relations between the Actual Controller and the Company
Notes: 1. Beijing Intelligent Kechuang Technology Development Co., Ltd. (Intelligent Kechuang) is used as a platform for the
Company to implement equity incentives for its core technical and managerial personnel, who are the 20 nominal shareholders of
Intelligent Kechuang. The ratios of their capital contributions to Intelligent Kechuang do not represent their actual equity percentage.
The equities of Intelligent Kechuang are jointly owned by the awardees of the Company’s equity incentive plans. The capital
contribution ratios of the said 20 people are as follows: Wang Dongsheng 20%, Jiang Yukun 10%, Liang Xinqing 10%, Zhao
Caiyong 6.667%, Shi Dong 6.667%, Chen Yanshun 6.667%, Song Ying 6.667%, Han Guojian 6.667%, Gong Xiaoqing 3.333%,
Wang Yanjun 3.333%, Wang Jiaheng 3.333%, Liu Xiaodong 3.333%, Ren Jianchang 1.667%, Sun Jiping 1.667%, Zhang Peng
1.667%, Wang Aizhen 1.667%, Mu Chengyuan 1.667%, Xu Yan 1.667%, Hua Yulun 1.667% and Zhong Huifeng 1.667%.
2. When the Company completed a private offering of shares in 2014, Beijing State-Owned Capital Operation and Management
Center transferred its 70% stake directly held in the Company to Beijing Electronics Holding Co., Ltd. for managing through a
Shares Management Agreement, and Beijing Electronics Holding Co., Ltd. obtained the shareholder’s rights other than the disposal
and earnings rights attached to the 70% stake; and Beijing State-Owned Capital Operation and Management Center agreed in a
Voting Rights Exercise Agreement to align itself with Beijing Electronics Holding Co., Ltd. when exercising its voting rights of the
remaining 30% stake directly held by it in the Company.
3. During the non-public issuing of the Company in 2021, Beijing Jing Guorui Soe Reform and Development Fund (L.P.) signed the
Acting-in-Concert Agreement with Beijing Electronics Holdings Co., Ltd.
5. Outstanding Bonds at the Date when this Report Was Authorized for Issue
√ Applicable □ Not applicable
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BOE Technology Group Co., Ltd. Annual Report 2021 (Summary)
(1) Bond Profile
Balance
Coupon
Bond name Abbr. Bond code Date of issue Maturity (RMB’0,0
rate
00)
2019 Public Offering of Renewable
Corporate Bonds of BOE (for qualified 19BOEY1 112741 28 October 2019 29 October 2022 800,000 4.00%
investors) (Phase I)
2020 Public Offering of Renewable
Corporate Bonds of BOE (for qualified
20BOEY1 149046 27 February 2020 28 February 2023 200,000 3.64%
investors) (Phase I) (epidemic prevention
and control bonds)
2020 Public Offering of Renewable
Corporate Bonds of BOE (for qualified
20BOEY2 149065 18 March 2020 19 March 2023 200,000 3.54%
investors) (Phase II) (epidemic prevention
and control bonds)
2020 Public Offering of Renewable
Corporate Bonds of BOE (for qualified
20BOEY3 149108 24 April 2020 27 April 2023 200,000 3.50%
investors) (Phase III) (epidemic prevention
and control bonds)
The interest for the period from 28 February 2020 to 26 February 2021 on 20BOEY1 was paid
on 1 March 2021.
The interest for the period from 19 March 2020 to 18 March 2021 on 20BOEY2 was paid on
Interest payment during the Reporting 19 March 2021.
Period The interest for the period from 27 April 2020 to 26 April 2021 on 20BOEY3 was paid on 27
April 2021.
The interest for the period from 29 October 2020 to 28 October 2021 on 19BOEY1 was paid
on 29 October 2021.
(2) Latest Rating and Rating Change
On 7 June 2021, United Credit Ratings Co., Ltd. issued the Follow-up Rating Report of the 2021 for the Renewable Corporate Bonds
of BOE Technology Group Co., Ltd. According to the Report, the issuer was still granted with a corporate long-term credit rating of
AAA with rating outlook rated as Stable; the bond credit rating remained AAA. The Follow-up Rating Report was published on
http://www.cninfo.com.cn/ and the website of United Ratings at www.unitedratings.com.cn on 7 June 2021.
United Credit Ratings Co., Ltd. is expected to issue the Follow-up Rating Report of the 2022 for the Renewable Corporate Bonds of
BOE Technology Group Co., Ltd. in May 2022. The Company will disclose the follow-up rating analysis report to investors on
www.szse.cn in time.
(3) Selected Financial Information of the Company for the Past Two Years
Unit: RMB'0,000
Item 2021 2020 Change
Debt/asset ratio 51.78% 59.13% -7.35%
Net profit before exceptional
2,393,754 267,045 796.39%
gains and losses
Debt/EBITDA ratio 50.09% 19.23% 30.86%
Interest cover (times) 7.63 2.27 236.12%
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BOE Technology Group Co., Ltd. Annual Report 2021 (Summary)
Part III Significant Events
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 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) (epidemic 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 2021 "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) (pandemic prevention and control bonds) 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. The Company disclosed 2021 "19BOEY1" Interest Payment Announcement (Announcement
No. 2021-085) on 26 October 2021. BOE Public Issuance of Renewable Corporate Bonds (to Qualified Investors) (the First Issue) in
2019 was two years old until 28 October 2021. According to the regulations, interest will be paid once a year during the
interest-bearing period. The interest payment plan is RMB40.00 (including tax) per 10 bonds. The Company disclosed 2022
"20BOEY1" Interest Payment Announcement (Announcement No. 2022-006) on 24 February 2022. 27 February 2022 was the second
anniversary of BOE Public Issuance of Renewable Corporate Bonds (to Qualified Investors) (the First Issue) (epidemic prevention
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BOE Technology Group Co., Ltd. Annual Report 2021 (Summary)
and control bonds) issued in 2020. According to the regulations, interest will be paid once a year during the interest-bearing period.
The interest payment plan was RMB36.40 (including tax) every ten bonds. The Company disclosed 2022 "20BOEY2" Interest
Payment Announcement (Announcement No. 2022-013) on March 17, 2022. March 18, 2022 was the second anniversary of BOE
Public Issuance of Renewable Corporate Bonds (to Qualified Investors) (the Second Issue) (epidemic prevention and control bonds)
issued in 2020. According to the regulations, interest will be paid once a year during the interest-bearing period. The interest payment
plan was RMB35.40 (including tax) per ten bonds. The Company publicly issued renewable corporate bonds (digital economy) to
professional investors (the first issue) (“22BOEY1” for short; Code: 149861) in 2022 with the issue term from 24 March 2022 to 25
March 2022, the issuing scale of RMB2 billion and the bonds’ ultimate nominal interest rate of 3.50%.
2. On 16 January 2021, the Company disclosed the Announcement on the Resolution of the 21st Meeting of the 9th Board of Directors
(Announcement No. 2021-001) and the Plan for Non-Public Offering of A-Shares in 2021, and other related announcements, in which
the Company intends to make a non-public offering of A-shares to no more than 35 specific investors including Jing Guorui Fund. The
net fund raised was expected to be no more than 2 million. The raised funds will be used for "acquisition of 24.06% equity of Wuhan
BOE Optoelectronics Technology Co., Ltd.", "capital increase to Chongqing BOE Display Technology Co., Ltd. and construction of its
Gen-6 AMOLED (flexible) production line project", "capital increase to Yunnan Chuangshijie Optoelectronics Technology Co., Ltd.
and construction of its 12-inch silicon OLED project", "capital increase to Chengdu BOE Hospital and construction of Chengdu BOE
Hospital project", "repayment of Fuzhou Urban Construction Investment Group loan" and supplementation of working capital. On 8
July 2021, the Company disclosed the Announcement on the Approval of the China Securities Regulatory Commission for the
Non-Public Offering of A-Shares (Announcement No. 2021-054), which tells that the Company received the Reply on Approval of the
Non-Public Offering of Shares by BOE Technology Group Co., Ltd. (ZH.J.X.K. [2021] No. 2277) issued by the China Securities
Regulatory Commission on 7 July 2021. On 19 August 2021, the Company disclosed the Report on the Non-public Offering of
A-shares by BOE Technology Group Co., Ltd. & the Announcement on the Listing of these Shares (announcement No. 2021-058),
along with other relevant announcements. 3,650,377,019 new shares were issued in the non-public offering, which were listed on the
Shenzhen Stock Exchange on 20 August 2021. On 18 February 2022, the Company disclosed the Suggestive Announcement on
Relieving Restricted Non-publicly Offered A Shares in 2021 (Announcement No.: 2022-005). On February 21, 2022, 2,932,244,165
restricted shares of non-publicly offered A shares in 2021 were relieved and could be traded in the market. The number of the
relieved restricted shares accounted for 8.5058% of non-restricted shares of the Company, and 7.6270% of the total share capital of
the Company.
3. On 28 May 2021, the Company disclosed the Announcement on the Implementation of Equity Distribution for the Year 2020
(Announcement No.: 2020-049), which tells that the Company's equity distribution plan for the year 2020 has been examined and
approved at the 2020 Annual General Meeting held on 18 May 2021. In the year 2020, the Company distributed profit to all
shareholders at a rate of RMB1.00 per 10 shares, based on the deduction of the total capital of 34,770,212,630 shares held by the
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BOE Technology Group Co., Ltd. Annual Report 2021 (Summary)
Company through the buy-back account (wherein, the profit of B shares was paid by converting RMB into HKD at the central rate of
the exchange of RMB into HKD published by People's Bank of China on the first business day after the resolution of the General
Meeting of the Company), and the Company did not give any bonus shares or increase the capital by the provident fund.
4. On 31 August 2021, the Company disclosed the Announcement No. 2021-060 on the Resolutions of the 31st Meeting of the 9th
Board of Directors, the Announcement No. 2021-066 on the Grant of Share Options to Awardees of Reserved Share Options under
the 2020 Share Option and Restricted Share Incentive Plan, and other related announcements. According to the 2020 Share Option
and Restricted Share Incentive Plan (Draft) of BOE Technology Group Co., Ltd., 33,000,000 share options would be granted to 110
awardees on 27 August 2021 for the conditions for the grant of the reserved share options under this plan had been met. On 23
October 2021, the Company disclosed the Announcement No. 2021-084 on the Transfer of the Ownership of the Reserved Share
Options under the 2020 Share Option and Restricted Share Incentive Plan. The reserved share options (code: 037179, name: Eastern
JLC2) were transferred on 22 October 2021.
5. Following the approval of the Proposal on the Repurchase of Some Public Shares at the 31 st Meeting of the 9th Board of Directors,
the Company disclosed the Announcement No. 2021-067 on the Repurchase of Some Public Shares on 31 August 2021. The
Company carried out the first repurchase on 2 September 2021 and disclosed the Announcement No. 2021-077 on the First
Repurchase of Some Public Shares on 3 September 2021. On 5 January 2022, the Company disclosed the Announcement No.
2022-005 on Progress of the Repurchase of Some Public Shares. As of 31 December 2021, the Company repurchased a total of
460,419,000 A-shares (approximately 1.2275% of the Company’s total A-share capital and 1.1976% of its total share capital) to the
special securities account for repurchase by way of centralized bidding. With the highest price being RMB5.96/share and the lowest
RMB4.89/share, the total payment for this repurchase amounted to RMB2,427,517,910.23 (exclusive of commissions and other fixed
costs). The said repurchase was in compliance with applicable laws and regulations, as well as with the Company’s repurchase plan
On 2 March 2022, the Company disclosed the Announcement on the Completed Implementation of Share Repurchase Programme
and Repurchase Implementation Results (Announcement No.: 2022-007). As at 28 February 2022, the Company has implemented
the repurchase of the Company's shares by means of centralized bidding through a special securities account for the repurchase, and
the cumulative number of A Shares repurchased was 499,999,919, accounting for approximately 1.3330% of the Company's A
Shares and 1.3005% of the Company's total share capital, with the highest transaction price of RMB5.96 per share and the lowest
transaction price of RMB4.68 per share. The total amount paid was RMB2,620,105,418.52 (including other fixed expenses such as
commissions). The above repurchase of the Company was in line with the requirements of relevant laws and regulations, as well as
the established repurchase programme of the Company. The total fund of this share repurchase didn't exceed the amount proposed to
be used in the repurchase programme, and the number of shares repurchased has reached the cap of shares under the repurchase
programme. So far, this share repurchase has been implemented and completed as planned.
Chairman of the Board (signature): Mr. Chen Yanshun
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BOE Technology Group Co., Ltd. Annual Report 2021 (Summary)
Date of the Board’s approval of this Report: 30 March 2022
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