THIRD QUARTERLY REPORT 2022
October 2022
BOE Technology Group Co., Ltd. Third Quarterly Report 2022
Stock Code: 000725 Stock Name: BOE-A Announcement No. 2022-076
Stock Code: 200725 Stock Name: BOE-B Announcement No. 2022-076
BOE TECHNOLOGY GROUP CO., LTD.
THIRD QUARTERLY REPORT 2022
BOE Technology Group Co., Ltd. (hereinafter referred to as the “Company”) and all the
members of the Company’s Board of Directors hereby guarantee that the contents of this
Report are true, accurate and complete and free of any misrepresentations, misleading
statements or material omissions.
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 shall be jointly and
severally liable for any misrepresentations, misleading statements or material omissions therein.
All the directors of the Company except for the following attended in person the Board meeting for the review
of this Report.
Name Office title Reason for not attending the meeting in person Proxy entrusted to attend the meeting
Wang Duoxiang Independent director Due to work Tang Shoulian
Mr. Chen Yanshun, the Company’s legal representative, Mr. Gao Wenbao, President of the Company, Ms. Yang
Xiaoping, the Company’s Chief Financial Officer, and Mr. Teng Jiao, 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.
The financial statements in this Report have not been audited by an independent auditor.
2
BOE Technology Group Co., Ltd. Third Quarterly Report 2022
I Key Financial Information
(I) Key Accounting Data and Financial Indicators
Indicate by tick mark whether there is any retrospectively restated datum in the table below.
Yes □ No
Reason for any retrospectively adjustment or restatement
Change of accounting policy
YoY
YoY change
Q3 2021 change Q1-Q3 2021
Item Q3 2022 Q1-Q3 2022 (%)
(%)
Before Restated Restated Before Restated Restated
Operating revenue (RMB) 41,134,145,106.00 55,993,022,701.00 56,184,413,318.00 -26.79% 132,744,386,975.00 163,278,349,727.00 164,802,432,028.00 -19.45%
Net profit attributable to the listed
-1,304,557,522.00 7,253,390,635.00 7,242,168,422.00 -118.01% 5,291,104,216.00 20,015,415,603.00 20,159,331,599.00 -73.75%
company’s shareholders (RMB)
Net profit attributable to the listed
company’s shareholders before -2,688,031,763.00 6,937,108,280.00 6,925,886,067.00 -138.81% 1,551,424,330.00 18,598,725,052.00 18,742,641,048.00 -91.72%
exceptional items (RMB)
Net cash generated from/used in
- - - - 31,030,436,301.00 44,751,381,483.00 44,793,836,011.00 -30.73%
operating activities (RMB)
Basic earnings per share
-0.039 0.197 0.196 -119.90% 0.128 0.560 0.564 -77.30%
(RMB/share)
Diluted earnings per share
-0.039 0.197 0.196 -119.90% 0.128 0.559 0.564 -77.30%
(RMB/share)
Weighted average return on equity
-1.15% 6.56% 6.56% -7.71% 3.75% 19.76% 19.90% -16.15%
(%)
31 December 2021 YoY change (%)
Item 30 September 2022
Before Restated Restated
Total assets (RMB) 430,996,506,952.00 449,726,980,355.00 450,232,603,405.00 -4.27%
Equity attributable to the listed
company’s shareholders (RMB) 133,304,426,299.00 142,925,547,899.00 143,086,216,558.00 -6.84%
Reason for accounting policy change and correction of accounting error:
As required by the Q&A on the Implementation of Fixed Assets Standards and the Interpretation of Accounting Standards for Business Enterprises No. 15 issued by the Ministry of Finance, the
Group retrospectively adjusted related items of financial statements of the beginning of the year and those of the same period of last year. The above changes of accounting policies have no
significant influence on the Company’s financial status and operating results.
3
BOE Technology Group Co., Ltd. Third Quarterly Report 2022
(II) Exceptional Gains and Losses
Applicable □ Not applicable
Unit: RMB
Item Q3 2022 Q1-Q3 2022 Note
Gain or loss on disposal of non-current assets (inclusive
79,572,579.00 78,092,447.00 N/A
of impairment allowance write-offs)
Tax rebates, reductions and exemptions with ultra vires
0.00 0.00 N/A
approval or in lack of duly approved document
Government grants through profit or loss (exclusive of
government grants continuously given in the Company’s
1,711,347,864.00 4,671,701,492.00 N/A
ordinary course of business at fixed quotas or amounts
as per the government’s policies and standards)
Capital occupation charges on non-financial enterprises
0.00 0.00 N/A
that are charged to current gains and 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 0.00 0.00 N/A
fair value of identifiable net assets of investees when
making investments
Gains and losses on non-monetary asset swap 0.00 0.00 N/A
Gains and losses on investment or asset management
0.00 0.00 N/A
entrustments to other entities
Allowance for asset impairments due to acts of God such
0.00 0.00 N/A
as natural disasters
Gains and losses on debt restructuring 0.00 0.00 N/A
Restructuring costs in staff arrangement, integration, etc. 0.00 0.00 N/A
Gains and losses on over-fair value amount as a result of
0.00 0.00 N/A
transactions with distinctly unfair prices
Current gains and losses on subsidiaries acquired
through business mergers under same control from 0.00 0.00 N/A
period-beginning to merger dates, net
Gains and losses on contingencies that do not arise in the
0.00 0.00 N/A
Company’s ordinary course of business
Gain or loss on fair-value changes in held-for-trading
financial assets and liabilities & investment income from
disposal of held-for-trading financial assets and
84,341,679.00 206,664,669.00 N/A
liabilities, and available-for-sale financial assets
(exclusive of effective portion of hedges that arise in the
Company’s ordinary course of business)
Reversed portion of impairment allowance for accounts
-4,467,867.00 16,060,417.00 N/A
receivable which are tested individually for impairment
Gains and losses on loan entrustment 0.00 0.00 N/A
Gains and losses on fair value changes in investment
property of which subsequent measurement is carried 0.00 0.00 N/A
out using fair value method
Effects of all adjustments required by taxation,
accounting and other applicable laws and regulations on 0.00 0.00 N/A
current gains and losses
Income from charges on entrusted management 0.00 0.00 N/A
Non-operating income and expense other than above 9,333,511.00 94,814,586.00 N/A
Other gains and losses that meet definition of
0.00 0.00 N/A
nonrecurring gain/loss
Less: Income tax effects 35,390,997.00 127,458,444.00 N/A
Non-controlling interests effects (net of tax) 461,262,528.00 1,200,195,281.00 N/A
Total 1,383,474,241.00 3,739,679,886.00 --
Other items that meet the definition of exceptional gain/loss:
□Applicable Not applicable
No such cases in the Reporting Period.
4
BOE Technology Group Co., Ltd. Third Quarterly Report 2022
Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item 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 in the Reporting Period.
(III) Changes in Key Financial Statement Line Items and Explanation of why
Applicable □ Not applicable
Changes in key line items of the income statement and explanation of why:
1. Finance costs declined 53% during Q1-Q3 2022 compared to Q1-Q3 2021, primarily driven by the decreased net interest
expense during the Reporting Period.
2. Other income rose 206% during Q1-Q3 2022 compared to Q1-Q3 2021, primarily driven by the increased government grants
during the Reporting Period.
3. Gain on changes in fair value rose 93% during Q1-Q3 2022 compared to Q1-Q3 2021, primarily driven by the increased gains
on investments in wealth management products during the Reporting Period.
Changes in key line items of the balance sheet and explanation of why:
1. Construction in progress as at 30 September 2022 rose 33% compared to 1 January 2022, primarily driven by new construction
projects yet to be transferred to fixed assets during the Reporting Period.
II Shareholder Information
(I) Numbers of Ordinary Shareholders and Preference Shareholders with Resumed Voting Rights as well
as Holdings of Top 10 Shareholders
Unit: share
Number of ordinary shareholders 1,604,066 (including 1,571,609 A-shareholders and 32,457 B-shareholders)
Top 10 shareholders
Shares in pledge,
Nature of Shareholding Restricted marked or frozen
Name of shareholder Total shares held
shareholder percentage shares
Status Shares
Beijing State-owned Capital Operation State-owned legal
10.64% 4,063,333,333 0 N/A 0
and Management Company Limited person
Hong Kong Securities Clearing Foreign legal
3.70% 1,414,248,418 0 N/A 0
Company Ltd. person
Beijing BOE Investment & State-owned legal
2.15% 822,092,180 0 N/A 0
Development Co., Ltd. person
Beijing Jing Guorui Soe Reform and
Other 1.88% 718,132,854 718,132,854 N/A 0
Development Fund (L.P.)
State-owned legal
Hefei Jianxiang Investment Co., Ltd. 1.74% 666,195,772 0 N/A 0
person
Domestic non-
Fuqing Huirong Venture Capital Group
state-owned legal 1.41% 538,599,640 0 N/A 0
Co., Ltd.
person
Sinatay Life Insurance Co., Ltd.-
Other 0.80% 305,330,128 0 N/A 0
Traditional Product
Beijing Yizhuang Investment Holdings State-owned legal
0.74% 281,295,832 0 N/A 0
Co., Ltd person
Domestic non-
Ningxia Risheng High-tech Industry
state-owned legal 0.72% 275,196,266 0 N/A 0
Co., Ltd. person
5
BOE Technology Group Co., Ltd. Third Quarterly Report 2022
State-owned legal
Beijing Electronics Holdings Co., Ltd. 0.72% 273,735,583 0 N/A 0
person
Top 10 unrestricted shareholders
Shares by class
Name of shareholder Unrestricted ordinary shares held
Class Shares
Beijing State-owned Capital Operation
4,063,333,333 RMB-denominated ordinary share 4,063,333,333
and Management Company Limited
Hong Kong Securities Clearing
1,414,248,418 RMB-denominated ordinary share 1,414,248,418
Company Ltd.
Beijing BOE Investment &
822,092,180 RMB-denominated ordinary share 822,092,180
Development Co., Ltd.
Hefei Jianxiang Investment Co., Ltd. 666,195,772 RMB-denominated ordinary share 666,195,772
Fuqing Huirong Venture Capital Group
538,599,640 RMB-denominated ordinary share 538,599,640
Co., Ltd.
Sinatay Life Insurance Co., Ltd.-
305,330,128 RMB-denominated ordinary share 305,330,128
Traditional Product
Beijing Yizhuang Investment Holdings
281,295,832 RMB-denominated ordinary share 281,295,832
Co., Ltd
Ningxia Risheng High-tech Industry
275,196,266 RMB-denominated ordinary share 275,196,266
Co., Ltd.
Beijing Electronics Holdings Co., Ltd. 273,735,583 RMB-denominated ordinary share 273,735,583
Xu Lili 236,248,998 RMB-denominated ordinary share 236,248,998
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., by entering
into Implementation Protocol of Voting Right, 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 rest 30% voting right maintained unanimous with Beijing
Related or acting-in-concert parties Electronics Holdings Co., Ltd. through the agreement according to Implementation Protocol of
among the shareholders above 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.
1. Shareholder Ningxia Risheng High-tech Industry Co., Ltd. held 232,612,566 shares in the
Company via its credit securities account, and shareholder Xu Lili held 229,814,698 shares in the
Top 10 ordinary shareholders involved
in securities margin trading (if any) Company via her credit securities account.
2. Except for the aforesaid, the Company does not know any other top-10 ordinary shareholder
who was involved in securities refinancing.
Note: As of the end of the Reporting Period, among the top 10 shareholders, BOE Technology Group Co., Ltd. held 528,186,052
A-shares of the Company via its special repurchase security account, accounting for 1.38%.
6
BOE Technology Group Co., Ltd. Third Quarterly Report 2022
(II) Number of Preference Shareholders and Shareholdings of Top 10 of Them
□Applicable Not applicable
III Other 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.
Bond name Abbr. Bond code Date of issue Maturity
2019 Public Offering of Renewable Corporate Bonds
19BOEY1 112741 28 October 2019 29 October 2022
of BOE (for qualified investors) (Phase I)
2020 Public Offering of Renewable Corporate Bonds
of BOE (for qualified investors) (Phase I) (epidemic 20BOEY1 149046 27 February 2020 28 February 2023
prevention and control bonds)
2020 Public Offering of Renewable Corporate Bonds
of BOE (for qualified investors) (Phase II) (epidemic 20BOEY2 149065 18 March 2020 19 March 2023
prevention and control bonds)
2020 Public Offering of Renewable Corporate Bonds
of BOE (for qualified investors) (Phase III) (epidemic 20BOEY3 149108 24 April 2020 27 April 2023
prevention and control bonds)
2022 Public Offering of Renewable Corporate Bonds
of BOE (for professional investors) (Digital Economy) 22BOEY1 149861 24 March 2022 25 March 2025
(Phase I)
On 9 September 2022, the Company disclosed the Announcement on Not Exercising the Issuer’s Renewal Option for the 2019
Public Offering of Renewable Corporate Bonds (for Qualified Investors) (Phase I) (Announcement No. 2022-067). 19BOEY1
will reach its maturity of three years on 28 October 2022. As per the relevant Prospectus and Listing Announcement, the Company
has decided not to exercise the issuer’s renewal option on 19BOEY1 and will fully redeem the said bonds instead. On 27 October
2022, the Company disclosed the Announcement on the Redemption of Corporate Bonds “19BOEY1” with Interest & the
Delisting of the Bonds (Announcement No. 2022-073). The Company will repay on 31 October 2022 the principals of the said
bonds, together with the interest from 29 October 2021 to 28 October 2022, and delist the bonds.
2. Following the approval of the Proposal on the Repurchase of Domestically Listed Foreign Shares (B-shares) at the 39th Meeting
of the 9th Board of Directors and the 2021 Annual General Meeting, the Company disclosed the Announcement No. 2022-030 on
the Plan for the Repurchase of Domestically Listed Foreign Shares (B-shares) on 31 March 2022 and the Report on the Repurchase
of Domestically Listed Foreign Shares (B-shares) (Announcement No. 2022-046) on 10 May 2022. The Company carried out the
first repurchase on 27 June 2022 and disclosed the Announcement No. 2022-050 on the First Repurchase of Domestically Listed
Foreign Shares (B-shares) on 28 June 2022. On 6 September 2022, the Company disclosed the Announcement No. 2022-065 on
the Completion of the Implementation of the Share Repurchase Plan & the Repurchase Results. As of 2 September 2022, all the
repurchased shares had been settled, with the total amount used reaching the upper limit of the repurchase amount. 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 B-shares repurchased was 243,229,361, accounting for approximately 25.9829% of
the Company's B-shares and 0.6327% of the Company's total share capital, with the highest transaction price of HKD4.32 per
share and the lowest transaction price of HKD3.65 per share. The total amount paid was HKD999,999,946.81 (inclusive of
transaction costs). 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. On 22 September 2022, the Company disclosed the Announcement
on the Completion of the Cancellation of Repurchased Shares & Share Changes (Announcement No. 2022-071). The aforesaid
7
BOE Technology Group Co., Ltd. Third Quarterly Report 2022
243,229,361 repurchased shares have been cancelled on 20 September 2022 with the Shenzhen branch of China Securities
Depository and Clearing Co., Ltd., with the cancelled number of shares, date of completion and term of retirement all in compliance
with the applicable laws and regulations.
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 for Non-Public Offering of A-Shares in 2021, and other related
announcements, in which the Company intended to make a non-public offering of A-shares to no more than 35 specific investors
including Jing Guorui Fund. The net funds raised were expected to be no more than RMB20 billion, which would be used for “the
acquisition of a 24.06% stake in Wuhan BOE Optoelectronics”, “a capital increase to Chongqing BOE Display and the construction
of the BOE Chongqing 6th-generation AMOLED (flexible) production line project”, “a capital increase to Yunnan Chuangshijie
Optoelectronics and the construction of the 12-inch OLED on silicon project”, “a capital increase to Chengdu BOE Hospital and
the construction of the Chengdu BOE Hospital project”, “the repayment of the loan of Fuzhou Urban Construction Investment
Group” and “supplementation of working capital”. On 19 August 2021, the Company disclosed the Summary of 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. According to the Report on the Non-public
Offering of A-shares by BOE Technology Group Co., Ltd. & the Announcement on the Listing of these Shares, of the net funds
raised in the 2021 non-public offering of A-shares, RMB1 billion would be used for a capital increase to Yunnan Chuangshijie
Optoelectronics Technology Co., Ltd. and the construction of the 12-inch OLED on silicon project. The investment in the 12-inch
OLED on silicon project would be implemented in three stages. In the first stage, the Company invested with its own funds, and
the project has delivered small shipments in 2021. Due to unexpected developments in the target markets, the Company considered
the risk of changing techniques and market demand and thus initiated the second and third stages of the project gradually. As of
the date of this Report, the raised funds intended for the 12-inch OLED on silicon project have yet to be used and will be used
subsequently according to market conditions.
IV Quarterly Financial Statements
(I) Financial Statements
1. Consolidated Balance Sheet
Prepared by BOE Technology Group Co., Ltd.
Unit: RMB
Item 30 September 2022 1 January 2022
Current assets:
Monetary assets 77,192,968,702.00 80,986,835,088.00
Settlement reserve 0.00 0.00
Loans to other banks and financial institutions 0.00 0.00
Held-for-trading financial assets 15,641,783,823.00 10,028,172,853.00
Derivative financial assets 0.00 0.00
Notes receivable 141,378,056.00 217,734,298.00
Accounts receivable 27,612,286,124.00 35,503,414,820.00
Receivables financing 0.00 0.00
Prepayments 820,470,779.00 1,112,880,007.00
Premiums receivable 0.00 0.00
Reinsurance receivables 0.00 0.00
Receivable reinsurance contract reserve 0.00 0.00
Other receivables 1,078,640,384.00 1,922,828,378.00
Including: Interest receivable 133,333.00 0.00
8
BOE Technology Group Co., Ltd. Third Quarterly Report 2022
Dividends receivable 0.00 2,414,503.00
Financial assets purchased under resale agreements 0.00 0.00
Inventories 28,515,432,821.00 27,805,161,436.00
Contract assets 138,740,600.00 75,698,324.00
Assets held for sale 0.00 0.00
Current portion of non-current assets 8,535,996.00 7,700,735.00
Other current assets 1,770,172,092.00 3,578,919,710.00
Total current assets 152,920,409,377.00 161,239,345,649.00
Non-current assets:
Loans and advances to customers 0.00 0.00
Debt investments 0.00 0.00
Other debt investments 0.00 0.00
Long-term receivables 26,803,942.00 29,918,542.00
Long-term equity investments 6,572,843,071.00 6,040,948,317.00
Investments in other equity instruments 578,519,766.00 519,088,146.00
Other non-current financial assets 606,895,447.00 606,895,447.00
Investment property 1,127,201,030.00 1,158,365,401.00
Fixed assets 209,332,092,998.00 227,141,366,885.00
Construction in progress 42,654,771,984.00 32,099,711,879.00
Productive living assets 0.00 0.00
Oil and gas assets 0.00 0.00
Right-of-use assets 729,795,962.00 753,164,237.00
Intangible assets 10,625,134,718.00 11,209,498,406.00
Development costs 0.00 0.00
Goodwill 1,130,006,987.00 1,130,006,987.00
Long-term prepaid expense 575,371,150.00 636,530,502.00
Deferred income tax assets 176,436,625.00 190,335,524.00
Other non-current assets 3,940,223,895.00 7,477,427,483.00
Total non-current assets 278,076,097,575.00 288,993,257,756.00
Total assets 430,996,506,952.00 450,232,603,405.00
Current liabilities:
Short-term borrowings 3,249,578,667.00 2,072,057,332.00
Borrowings from the central bank 0.00 0.00
Loans from other banks and financial institutions 0.00 0.00
Held-for-trading financial liabilities 0.00 0.00
Derivative financial liabilities 0.00 0.00
Notes payable 612,435,907.00 827,958,031.00
Accounts payable 26,202,233,035.00 32,455,830,694.00
Advances from customers 87,414,783.00 146,140,084.00
Contract liabilities 3,264,466,226.00 3,765,081,554.00
Financial assets sold under repurchase agreements 0.00 0.00
Customer deposits and deposits from other banks and
financial institutions 0.00 0.00
Payables for acting trading of securities 0.00 0.00
Payables for underwriting of securities 0.00 0.00
Employee benefits payable 3,292,286,676.00 5,133,155,237.00
Taxes and levies payable 1,448,575,226.00 2,200,249,305.00
Other payables 20,420,070,649.00 23,835,374,942.00
Including: Interest payable 145,025.00 126,701.00
Dividends payable 6,388,156.00 6,561,972.00
Fees and commissions payable 0.00 0.00
Reinsurance payables 0.00 0.00
Liabilities directly associated with assets held for sale 0.00 0.00
Current portion of non-current liabilities 33,114,135,520.00 28,874,958,714.00
Other current liabilities 3,430,794,665.00 4,051,532,509.00
Total current liabilities 95,121,991,354.00 103,362,338,402.00
Non-current liabilities:
9
BOE Technology Group Co., Ltd. Third Quarterly Report 2022
Insurance contract reserve 0.00 0.00
Long-term borrowings 122,129,964,187.00 116,078,666,587.00
Bonds payable 358,293,368.00 359,586,437.00
Including: Preference shares 0.00 0.00
Perpetual bonds 0.00 0.00
Lease liabilities 719,428,159.00 669,130,264.00
Long-term payables 349,671,479.00 906,592,838.00
Long-term employee benefits payable 0.00 0.00
Provisions 0.00 0.00
Deferred income 4,931,684,980.00 6,416,089,611.00
Deferred income tax liabilities 1,562,101,464.00 1,525,622,873.00
Other non-current liabilities 3,035,963,580.00 3,535,809,876.00
Total non-current liabilities 133,087,107,217.00 129,491,498,486.00
Total liabilities 228,209,098,571.00 232,853,836,888.00
Owners’ equity:
Share capital 38,202,517,121.00 38,445,746,482.00
Other equity instruments 8,108,390,917.00 14,146,997,427.00
Including: Preference shares 0.00 0.00
Perpetual bonds 8,108,390,917.00 14,146,997,427.00
Capital reserves 54,631,964,183.00 53,804,309,393.00
Less: Treasury stock 3,547,452,575.00 3,415,768,207.00
Other comprehensive income -967,662,394.00 113,551,147.00
Specific reserve 0.00 0.00
Surplus reserves 2,890,218,539.00 2,889,590,205.00
General reserve 0.00 0.00
Retained earnings 33,986,450,508.00 37,101,790,111.00
Total equity attributable to owners of the Company as the
133,304,426,299.00 143,086,216,558.00
parent
Non-controlling interests 69,482,982,082.00 74,292,549,959.00
Total owners’ equity 202,787,408,381.00 217,378,766,517.00
Total liabilities and owners’ equity 430,996,506,952.00 450,232,603,405.00
Legal representative: Chen Yanshun President of the Company’s Execution Committee: Gao Wenbao
Chief Financial Officer: Yang Xiaoping Head of the Company’s Financial Department: Teng Jiao
2. Consolidated Income Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2022 Q1~Q3 2021
1. Revenues 132,744,386,975.00 164,802,432,028.00
Including: Operating revenue 132,744,386,975.00 164,802,432,028.00
Interest income 0.00 0.00
Insurance premium income 0.00 0.00
Fee and commission income 0.00 0.00
2. Costs and expenses 132,516,593,803.00 133,758,624,223.00
Including: Cost of sales 114,557,562,318.00 113,370,797,266.00
Interest expense 0.00 0.00
Fee and commission expense 0.00 0.00
Surrenders 0.00 0.00
Net insurance claims paid 0.00 0.00
Net amount provided as insurance contract
reserve 0.00 0.00
Expenditure on policy dividends 0.00 0.00
Reinsurance premium expense 0.00 0.00
Taxes and levies 951,347,871.00 1,098,484,767.00
Selling expense 2,656,477,233.00 3,411,026,739.00
Administrative expense 4,654,091,569.00 5,028,571,370.00
10
BOE Technology Group Co., Ltd. Third Quarterly Report 2022
R&D expense 8,399,773,016.00 8,116,730,026.00
Finance costs 1,297,341,796.00 2,733,014,055.00
Including: Interest expense 2,278,171,212.00 3,645,968,371.00
Interest income 1,015,483,608.00 741,952,363.00
Add: Other income 4,688,391,574.00 1,534,520,440.00
Return on investment (“-” for loss) 576,119,809.00 560,152,073.00
Including: Share of profit or loss of joint ventures
400,596,521.00 487,008,937.00
and associates
Income from the derecognition of financial assets
0.00 0.00
at amortized cost (“-” for loss)
Exchange gain (“-” for loss) 0.00 0.00
Net gain on exposure hedges (“-” for loss) 0.00 0.00
Gain on changes in fair value (“-” for loss) 125,006,673.00 64,613,098.00
Credit impairment loss (“-” for loss) -25,742,411.00 -43,202,700.00
Asset impairment loss (“-” for loss) -5,251,448,489.00 -3,332,862,567.00
Asset disposal income (“-” for loss) 7,913,154.00 151,124,296.00
3. Operating profit (“-” for loss) 348,033,482.00 29,978,152,445.00
Add: Non-operating income 135,467,497.00 64,533,897.00
Less: Non-operating expense 48,767,454.00 20,810,474.00
4. Gross profit (“-” for loss) 434,733,525.00 30,021,875,868.00
Less: Income tax expense 1,769,526,836.00 4,000,514,020.00
5. Net profit (“-” for net loss) -1,334,793,311.00 26,021,361,848.00
5.1 By operating continuity
5.1.1 Net profit from continuing operations (“-” for net
-1,334,793,311.00 26,021,361,848.00
loss)
5.1.2 Net profit from discontinued operations (“-” for net
0.00 0.00
loss)
5.2 By ownership
5.2.1 Net profit attributable to shareholders of the
5,291,104,216.00 20,159,331,599.00
Company as the parent (“-” for net loss)
5.2.1 Net profit attributable to non-controlling interests
-6,625,897,527.00 5,862,030,249.00
(“-” for net loss)
6. Other comprehensive income, net of tax -1,080,248,241.00 -16,990,147.00
Attributable to owners of the Company as the parent -1,074,930,204.00 3,830,238.00
6.1 Items that will not be reclassified to profit or loss -67,403,720.00 -72,663,515.00
6.1.1 Changes caused by remeasurements on defined
0.00 0.00
benefit schemes
6.1.2 Other comprehensive income that will not be
-51,358,569.00 -30,395,334.00
reclassified to profit or loss under the equity method
6.1.3 Changes in the fair value of investments in other
-16,045,151.00 -42,268,181.00
equity instruments
6.1.4 Changes in the fair value arising from changes
in own credit risk 0.00 0.00
6.1.5 Other 0.00 0.00
6.2 Items that will be reclassified to profit or loss -1,007,526,484.00 76,493,753.00
6.2.1 Other comprehensive income that will be
73,424.00 0.00
reclassified to profit or loss under the equity method
6.2.2 Changes in the fair value of other debt
investments 0.00 0.00
6.2.3 Other comprehensive income arising from the
0.00 0.00
reclassification of financial assets
6.2.4 Credit impairment allowance for other debt
investments 0.00 0.00
6.2.5 Reserve for cash flow hedges 0.00 0.00
6.2.6 Differences arising from the translation of
foreign currency-denominated financial statements -1,007,599,908.00 76,493,753.00
6.2.7 Other 0.00 0.00
Attributable to non-controlling interests -5,318,037.00 -20,820,385.00
7. Total comprehensive income -2,415,041,552.00 26,004,371,701.00
7.1 Attributable to owners of the Company as the parent 4,216,174,012.00 20,163,161,837.00
7.2 Attributable to non-controlling interests -6,631,215,564.00 5,841,209,864.00
11
BOE Technology Group Co., Ltd. Third Quarterly Report 2022
8. Earnings per share
8.1 Basic earnings per share 0.128 0.564
8.2 Diluted earnings per share 0.128 0.564
Where business combinations under common control occurred in the current period, the net profit achieved by the acquirees before
the combinations was RMB0.00, with the amount for the same period of last year being RMB0.00 .
Legal representative: Chen Yanshun President of the Company’s Execution Committee: Gao Wenbao
Chief Financial Officer: Yang Xiaoping Head of the Company’s Financial Department: Teng Jiao
3. Consolidated Cash Flow Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2022 Q1~Q3 2021
1. Cash flows from operating activities:
Proceeds from sale of commodities and rendering of
services 149,238,433,709.00 162,946,489,854.00
Net increase in customer deposits and deposits from other
banks and financial institutions 0.00 0.00
Net increase in borrowings from the central bank 0.00 0.00
Net increase in loans from other financial institutions 0.00 0.00
Premiums received on original insurance contracts 0.00 0.00
Net proceeds from reinsurance 0.00 0.00
Net increase in deposits and investments of policy holders 0.00 0.00
Interest, fees and commissions received 0.00 0.00
Net increase in loans from other banks and financial
0.00 0.00
institutions
Net increase in proceeds from repurchase transactions 0.00 0.00
Net proceeds from acting trading of securities 0.00 0.00
Tax and levy rebates 15,073,124,057.00 8,364,815,287.00
Cash generated from other operating activities 6,776,267,125.00 4,850,018,898.00
Subtotal of cash generated from operating activities 171,087,824,891.00 176,161,324,039.00
Payments for commodities and services 116,214,674,571.00 107,801,306,841.00
Net increase in loans and advances to customers 0.00 0.00
Net increase in deposits in the central bank and other banks
0.00 0.00
and financial institutions
Payments for claims on original insurance contracts 0.00 0.00
Net increase in loans to other banks and financial
0.00 0.00
institutions
Interest, fees and commissions paid 0.00 0.00
Policy dividends paid 0.00 0.00
Cash paid to and for employees 15,488,498,730.00 13,584,382,845.00
Taxes and levies paid 4,733,280,889.00 5,980,745,956.00
Cash used in other operating activities 3,620,934,400.00 4,001,052,386.00
Subtotal of cash used in operating activities 140,057,388,590.00 131,367,488,028.00
Net cash generated from/used in operating activities 31,030,436,301.00 44,793,836,011.00
2. Cash flows from investing activities:
Proceeds from disinvestment 62,428,998,594.00 23,281,402,329.00
Return on investment 324,649,377.00 136,429,102.00
Net proceeds from the disposal of fixed assets, intangible
5,500,981.00 16,503,309.00
assets and other long-lived assets
Net proceeds from the disposal of subsidiaries and other
0.00 88,028,400.00
business units
Cash generated from other investing activities 918,167,460.00 2,804,449,647.00
Subtotal of cash generated from investing activities 63,677,316,412.00 26,326,812,787.00
Payments for the acquisition of fixed assets, intangible
assets and other long-lived assets 21,617,268,503.00 28,852,051,825.00
Payments for investments 68,234,624,848.00 23,351,349,232.00
Net increase in pledged loans granted 0.00 0.00
Net payments for the acquisition of subsidiaries and other 0.00 0.00
12
BOE Technology Group Co., Ltd. Third Quarterly Report 2022
business units
Cash used in other investing activities 664,476,852.00 71,264,210.00
Subtotal of cash used in investing activities 90,516,370,203.00 52,274,665,267.00
Net cash generated from/used in investing activities -26,839,053,791.00 -25,947,852,480.00
3. Cash flows from financing activities:
Capital contributions received 2,701,942,329.00 28,856,737,400.00
Including: Capital contributions by non-controlling
2,701,942,329.00 8,987,230,000.00
interests to subsidiaries
Borrowings received 43,532,798,686.00 23,470,837,385.00
Cash generated from other financing activities 17,184,658.00 1,516,720,582.00
Subtotal of cash generated from financing activities 46,251,925,673.00 53,844,295,367.00
Repayment of borrowings 41,856,013,694.00 35,141,044,729.00
Interest and dividends paid 12,400,683,947.00 8,272,971,303.00
Including: Dividends paid by subsidiaries to non-
controlling interests 42,013,745.00 13,580,970.00
Cash used in other financing activities 2,230,559,147.00 15,579,476,970.00
Subtotal of cash used in financing activities 56,487,256,788.00 58,993,493,002.00
Net cash generated from/used in financing activities -10,235,331,115.00 -5,149,197,635.00
4. Effect of foreign exchange rates changes on cash and cash
1,842,700,102.00 -465,908,592.00
equivalents
5. Net increase in cash and cash equivalents -4,201,248,503.00 13,230,877,304.00
Add: Cash and cash equivalents, beginning of the period 76,623,486,083.00 68,064,736,371.00
6. Cash and cash equivalents, end of the period 72,422,237,580.00 81,295,613,675.00
(II) Independent Auditor’s Report
Indicate by tick mark whether the financial statements above have been audited by an independent auditor.
□Yes No
These financial statements have not been audited by such an auditor.
BOE Technology Group Co., Ltd.
Board of Directors
28 October 2022
13
