The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
Stock Code: 200725 Stock abbreviation: BOE B Announcement No. 2016-042
BOE TECHNOLOGY GROUP CO., LTD.
The Abstract of the Report for the First Quarter of 2016
Section I Important Statements
The Board of Directors, the Supervisory Committee, directors, supervisors and senior management staff of BOE
Technology Group Co., Ltd. (hereinafter referred to as “the Company”) warrant that the contents carried in this
report are without any false record, misleading statement or material omission. And they shall be severally and
jointly liable for the authenticity, accuracy and completeness.
Mr. Wang Dongsheng, company principal, Mr. Chen Yanshun, company president, Ms. Sun Yun, chief of the
accounting work, and Ms. Yang Xiaoping, chief of the accounting organ (chief of accounting), hereby confirm that
the Financial Report enclosed in this report is factual, accurate and complete.
All directors have attended the board session for reviewing this report.
This report is prepared in both Chinese and English. Should there be any understanding discrepancy between the
two versions, the Chinese version shall prevail.
The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
Section II Financial Results and Changes in Shareholders
I Financial results
Whether the Company performed any retroactive adjustments to or restatement of its accounting data due to changes of accounting
policies or correction of accounting errors
□ Yes √ No
Item January-March 2016 January-March 2015 +/-
Operating revenues (RMB) 12,297,738,830.00 11,582,854,379.00 6.17%
Net profit attributable to shareholders of
108,325,454.00 978,140,971.00 -88.93%
the Company (RMB)
Net profit attributable to shareholders of
the Company after exceptional profit and -1,356,749,356.00 880,748,144.00 -254.05%
loss (RMB)
Net operating cash flow (RMB) 2,767,654,463.00 2,302,553,649.00 20.20%
Basic earnings per share (RMB/share) 0.003 0.028 -89.29%
Diluted earnings per share (RMB/share) 0.003 0.028 -89.29%
Weighted average return on equity 0.14% 1.27% -1.13%
Item 31 March 2016 31 December 2015 +/-
Total assets (RMB) 162,807,233,819.00 152,592,894,442.00 6.69%
Net assets attributable to shareholders of
77,552,636,290.00 77,485,275,564.00 0.09%
the Company (RMB)
Exceptional profit and loss
√ Applicable □ Not applicable
Unit: RMB
Item January-March 2016 Note
Gains/losses on the disposal of non-current assets (including the
-178,441.00 -
offset part of asset impairment provisions)
Tax rebates, reductions or exemptions due to approval beyond
0.00 -
authority or the lack of official approval documents
Government grants recognized in the current period, except for
those acquired in the ordinary course of business or granted at
1,434,844,783.00 -
certain quotas or amounts according to the country’s unified
standards
Capital occupation charges on non-financial enterprises that
0.00 -
recorded into current gains and losses
Gains due to that the investment costs for the Company to obtain
0.00 -
subsidiaries, associates and joint ventures are lower than the
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The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
enjoyable fair value of the identifiable net assets of the investees
when making the investments
Gain/loss on non-monetary asset swap 0.00 -
Gain/loss on entrusting others with investments or asset
0.00 -
management
Asset impairment provisions due to acts of God such as natural
0.00 -
disasters
Gain/loss on debt restructuring 0.00 -
Expenses for business reorganization, such as expenses for
0.00 -
staffing, reorganization etc.
Gain/loss on the part over the fair value due to transactions with
0.00 -
distinctly unfair prices
Current gains and losses of subsidies acquired from business
combination under the same control as from period-begin to 0.00 -
combination date
Gain/loss on contingent events irrelevant to the Company’s
0.00 -
normal business
Gains and losses on change in fair value from tradable financial
assets and tradable financial liabilities, as well as investment
income from disposal of tradable financial assets and tradable
37,683,600.00 -
financial liabilities and financial assets available for sales, except
for effective hedging related with normal businesses of the
Company
Reversal of impairment provisions for the accounts receivable on
0.00 -
which impairment tests were carried out separately
Gain/loss on external entrustment loans 0.00 -
Gain/loss on change of the fair value of investing real estate of
which the subsequent measurement is carried out adopting the fair 0.00 -
value method
Effect on current gains/losses when a one-off adjustment is made
to current gains/losses according to requirements of taxation, 0.00 -
accounting and other relevant laws and regulations
Custody fee income when entrusted with operation 0.00 -
Non-operating incomes and expenses other than the above 0.00 -
Other gain/loss items that meet the definition of an extraordinary
7,105,977.00 -
gain/loss
Less: Income tax effects 9,064,919.00
Minority interests effects (after tax) 5,316,190.00
Total 1,465,074,810.00 --
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The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
Explain the reasons if the Company classifies an item as exceptional profit/loss according to the definition in the Explanatory
Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Profit and Loss,
or classifies any exceptional profit/loss item mentioned in the said explanatory announcement as recurrent profit/loss
□ Applicable √ Not applicable
No such cases in the Reporting Period.
II Total number of shareholders at the period-end and shareholdings of top ten shareholders
1. Numbers of common shareholders and preference shareholders with resumed voting rights as well as
shareholdings of top ten shareholders
Unit: share
Total number of common
1,455,885 (including: 1,408,069 A-shareholders and 47,816 B-shareholders)
shareholders at the period-end
Shareholdings of top ten shareholders
Shareholdin Number of Pledged or frozen shares
Nature of Number of shares
Name of shareholder g percentage restricted shares Status of Number of
shareholder held
(%) held shares shares
Beijing State-owned Capital State-owned
11.56% 4,063,333,333 0
Management Center Corporation
Chongqing Capital Photoelectricity State-owned
8.53% 3,000,000,000 Pledged 955,000,000
Investment Co., Ltd. Corporation
Hefei Jianxiang Investment Co., State-owned
8.13% 2,857,142,857 0
Ltd. Corporation
Hua An Fund – ICBC - Zhongrong
International Trust – Zhongrong -
Other 4.45% 1,564,126,904 0
RJ No. 1 Assembled Funds Trust
Plan
China Securities Finance
Other 2.49% 876,935,991 0
Corporation Limited
Beijing BOE Investment & State-owned
2.34% 822,092,180 0
Development Co., Ltd. Corporation
Beijing Economic-Technological State-owned
1.93% 677,423,641 0
Investment & Development Corp. Corporation
Hefei Raycom Projects Investment State-owned
1.92% 675,026,803 0
Co., Ltd. Corporation
Beijing BDA Technological
Other 1.60% 564,000,000 0
Investment Development Co., Ltd.
Beijing Electronics Holdings Co.,
Nation 0.78% 273,735,583 0
Ltd.
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The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
Shareholdings of top ten non-restricted shareholders
Variety of shares
Name of shareholder Number of non-restricted shares held
Variety Number
Hua An Fund – ICBC - Zhongrong International
RMB ordinary
Trust - Zhongrong - RJ No. 1 Assembled Funds 1,564,126,904 1,564,126,904
shares
Trust Plan
RMB ordinary
China Securities Finance Corporation Limited 876,935,991 876,935,991
shares
Beijing BOE Investment & Development Co., RMB ordinary
822,092,180 822,092,180
Ltd. shares
Beijing Economic-Technological Investment & RMB ordinary
677,423,641 677,423,641
Development Corp. shares
RMB ordinary
Hefei Raycom Projects Investment Co., Ltd. 675,026,803 675,026,803
shares
Beijing BDA Technological Investment RMB ordinary
564,000,000 564,000,000
Development Co., Ltd. shares
RMB ordinary
Beijing Electronics Holdings Co., Ltd. 273,735,583 273,735,583
shares
RMB ordinary
Central Huijin Investment Ltd. 248,305,300 248,305,300
shares
Chongqing Jiangbeizui CBD Investment Group RMB ordinary
107,095,238 107,095,238
Co., Ltd. shares
Sinotrans Air Transportation Development Co., RMB ordinary
78,200,000 78,200,000
Ltd. shares
1. Beijing State-owned Capital Management Center held 100% equities of
Beijing Electronics Holdings Co., Ltd..
2. Beijing Electronics Holdings Co., Ltd. held 66.25% shares of Beijing BOE
Investment & Development Co., Ltd., which was the controlling shareholder of
the latter.
3. Beijing Economic-Technological Investment & Development Corp. held 49%
shares of Beijing BDA Technological Investment Development Co., Ltd., the
Explanation on associated relationship or persons
above mentioned companies were both controlled by the Beijing Economic -
acting in concert among the above-mentioned
Technological Development Area Administration Committee and were the
shareholders
persons acting in concert
4. When the Company completed private offering of shares in 2014, Hefei
Jianxiang Investment Co., Ltd., Chongqing Ezcapital Opto-electronics Industry
Investment Co., Ltd. maintained unanimous according to the declaration of
intention from Beijing BOE Investment & Development Co., Ltd. when
executing the voting rights of the shareholders of the Company through the
agreement of the Voting Rights Exercising Agreement
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The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
5. When the Company completed private offering of shares in 2014, Beijing
State-owned Capital Operation and Management Center transferred the 70%
shares directly held to Beijing Electronic Shareholding Co., Ltd. for managing
through Shares Management Protocol, and Beijing Electronic Shareholding Co.,
Ltd. acquired the shareholders rights except for the disposition rights and equity
rights attached to the equities; Beijing State-owned Capital Operation and
Management Center maintained its voting rights of the rest 30% equity directly
held by itself in accordance with Beijing Electronic Shareholding Co., Ltd.
through the agreement of the Voting Rights Exercising Agreement.
6. Except for relationship among the above shareholders, the Company is not
aware of whether the other top ten shareholders exist associated relationship or
not, or they are persons acting in concert or not.
Top ten common shareholders conducting
N/A
securities margin trading (if any)
Did any of the top ten common shareholders or the top ten non-restricted common shareholders of the Company conduct any
promissory repo during the Reporting Period?
□ Yea √ No
No such cases in the Reporting Period.
2. Total number of preference shareholders and shareholdings of the top ten of them
□ Applicable √ Not applicable
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The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
Section III Significant Events
I Changes in major accounting statement items and financial indicators for the Reporting
Period, as well as reasons for such changes
√ Applicable □ Not applicable
1. Financial costs increased 116% from the same period of last year, mainly due to the increase in exchange loss and interest
expenditure.
2. Non-operating revenue increased 1125% from the same period of last year, mainly due to the increase in governmental subsidies.
3. Corporate income tax decreased 94% from the same period of last year, mainly due to the decreased profit on display devices.
4. Notes receivable increased 74% from the opening amount, mainly because some deals were settled using notes.
5. Accounts paid in advance decreased 35% from the opening amount, mainly because the prepayments to suppliers decreased.
6. Long-term equity investments increased 34% from the opening amount, mainly due to the increased investments in associates.
7. Other non-current assets increased 368% from the opening amount, mainly because the prepayments for acquisition of long-term
assets and the deferred import VAT increased.
8. Short-term borrowings decreased 82% from the opening amount, mainly because more bank loans were repaid as the projects
proceeded.
9. Notes payable increased 89% from the opening amount, mainly because some deals were settled using notes.
10. Interest payable decreased 77% from the opening amount, mainly because borrowing interest was paid.
11. Bonds payable increased by RMB9.952 billion from the opening amount, mainly due to the bonds issued in the Reporting Period.
12. Net investment cash outflow decreased 70% from the same period of last year, mainly because the expenses on construction of
new projects decreased.
13. Net financing cash outflow increased 345% from the same period of last year, mainly because more bank loans were repaid as the
projects proceeded.
II Progress of significant events and analysis & explanations on their influence and solutions
√ Applicable □ Not applicable
Index to the relevant
Overview of the significant event Date of disclosure announcement disclosed on
the website
China Development Fund Co., Ltd. appended investment of RMB1.6 billion on
Fuzhou BOE Optoelectronics Technology Co., Ltd. and the event had been
13 Mar. 2016 www.cninfo.com.cn
reviewed and approved by 2016 2nd Extraordinary General Meeting of the
Company.
In 2016, the Company executed the public offering of the corporate bonds
(Phase I) to the qualified investors (called “16BOE01” for short with the code
23 Mar. 2016 www.cninfo.com.cn
of “112358”), which was of 10 billion with the final nominal interest rate of
3.15%.
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Abstract of the Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
III Commitments of the Company, its shareholders, actual controller, acquirer, directors, supervisors, senior management or other
related parties fulfilled in the Reporting Period or ongoing at the period-end
√ Applicable □ Not applicable
Date of
Type of Term of
Commitment Commitment maker Contents commitment Fulfillment
commitment commitment
making
Commitments made in share reform
Commitments made in acquisition
documents or shareholding alteration
documents
Commitments made in time of asset
restructuring
Beijing State-owned Capital
The shares acquired from this subscription shall
Operation and Management Center, Commitment
not be transferred within 36 months from the
Hefei Jianxiang Investment Co., Ltd., concerning 8 Apr. 2014 36 months In execution
first trading date of these newly increased
Commitments made in time of IPO or Chongqing Capital Photoelectricity restricted shares
shares in the private placement by the issuer.
refinancing Investment Co., Ltd.
Commitment Voluntarily committed to lock up the whole
Hefei Raycom Projects Investment
concerning held shares of the Company of 24 months since 9 Jan. 2014 24 months Fulfilled
Co., Ltd.
restricted shares 9 January 2014.
Commitments concerning stock
ownership incentive
Committed not to decrease the shareholding
Commitment during the shareholding increase execution
Other commitments made to minority
Beijing Electronics Holdings Co., Ltd. concerning period and within 6 months after the completion 31 Jul. 2015 6 months Fulfilled
shareholders
others of the execution of 231,700 unrestricted RMB
ordinary shares increased by the directional
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Abstract of the Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
asset plan.
Committed not to decrease the shareholding
during the shareholding increase execution
Commitment
Beijing BOE Investment period and within 6 months after the completion
concerning 24 Aug, 2015 6 months Fulfilled
Development Co., Ltd. of the execution of 6,311,100unrestricted RMB
others
ordinary shares increased by the directional
asset plan.
Commitment Committed not to decrease the shareholding of
Whole Directors, Supervisors and
concerning the Company’s shares within the future 6 11 Jul. 2015 6 months Fulfilled
Senior Executives
others months since 11 July 2015.
Beijing Electronics Holdings Co.,
Commitment Committed not to decrease the shareholding of
Ltd., Beijing BOE Investment
concerning the Company’s shares within the future 6 28 Jan. 2016 6 months In execution
Development Co., Ltd., Hefei
others months since 28 Jan 2016.
Raycom Projects Investment Co., ltd.
Commitment Committed not to decrease the shareholding of
Beijing BDA Technological
concerning the Company’s shares within the future 6 14 Feb. 2016 6 months In execution
Investment Development Co., Ltd.
others months since 14 February 2016.
Executed on time Yes
Specific reasons for failing to fulfill
commitments on time and plans for N/A
next step
IV Operating result forecast for January-June 2016
Warning of possible loss or considerable YoY change of the accumulated net profit made during the period-beginning to the end of the next reporting period according to prediction, as well as
explanations on the reasons:
□ Applicable √ Not applicable
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Abstract of the Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
V Securities investments
√ Applicable □ Not applicable
Variety of Code of Name of Opening Opening Closing Closing Profit/loss in Source of
Initial Closing book
number of shareholding number of shareholding the Reporting Accounting title
securities securities securities value securities
investment cost shares held percentage shares held percentage Period
TPV Financial assets
Stock HK00903 134,658,158.00 24,360,191 1.04% 24,360,191 1.04% 20,705,334.00 0.00 Subscribe
Technology available-for-sale
Electronic Financial assets
Stock SH600658 90,160,428.00 9,819,493 1.69% 9,819,493 1.69% 111,942,220.00 0.00 Stock-for-stock
Zone available-for-sale
Bank of Financial assets
Stock HK01963 120,084,375.00 25,195,000 0.93% 25,195,000 0.93% 132,089,380.00 0.00 Subscribe
Chongqing available-for-sale
Other securities investment held at the
0.00 0 -- 0 -- 0.00 0.00 -- --
period-end
Total 344,902,961.00 59,374,684 -- 59,374,684 -- 264,736,934.00 0.00 -- --
Disclosure date of the board announcement
N/A
on approval of the securities investment
Disclosure date of the general meeting
announcement on approval of the securities N/A
investment (if any)
VI Investments in derivative financial instruments
□ Applicable √ Not applicable
No such cases in the Reporting Period.
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Abstract of the Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
VII Visits paid to the Company in the Reporting Period for purposes of research,
communication, interview, etc.
√ Applicable □ Not applicable
Date of visit Way of visit Type of visitor Index to main inquiry information
2016-01-07 Teleconference Institution Main discussion:
2016-01-12 Field research Institution 1. The operating situation, the future
development strategy of the Company;
2016-01-15 Field research Institution
2. Industry conditions and development
2016-01-25 Field research Institution
trend;
2016-02-18 Field research Institution 3. Situation of the several production
2016-02-19 Teleconference Institution lines of the Company;
2016-02-24 Teleconference Institution Materials provided by the Company: the
company brochure and other public
2016-03-07 Field research Institution
information.
2016-03-17 Teleconference Institution
VIII Illegal provision of guarantees for external parties
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IX Occupation of the Company’s funds by the controlling shareholder or its related parties
for non-operating purposes
□ Applicable √ Not applicable
No such cases in the Reporting Period.
Board Chairman (signature):
Wang Dongsheng
Date of the Board’s approval: 25 April 2016
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