INTERIM REPORT 2024
August 2024
Part I Important Notes, Table of Contents and DefinitionsThe 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 referredto as the “Company”) hereby guarantee the factuality, accuracy and completeness of thecontents of this Report and its summary, and shall be jointly and severally liable for anymisrepresentations, misleading statements or material omissions therein.Mr. Chen Yanshun, the Company’s legal representative, Mr. Gao Wenbao, President, Ms. YangXiaoping, Chief Financial Officer, and Mr. Teng Jiao, head of the financial department(equivalent to financial manager) hereby guarantee that the Financial Statements carried inthis Report are factual, accurate and complete.All the Company’s directors have attended the Board meeting for the review of this Report andits summary.Any plans for the future, development strategies and other forward-looking statementsmentioned in this Report and its summary shall NOT be considered as absolute promises of theCompany to investors. Therefore, investors are reminded to exercise caution when makinginvestment decisions. For further information, see “(X) Risks Facing the Company andCountermeasures” in Part III herein.The Company has no interim dividend plan, either in the form of cash or stock.This Report and its summary have been prepared in both Chinese and English. Should therebe any discrepancies or misunderstandings between the two versions, the Chinese versions shallprevail.
Table of Contents
Part I Important Notes, Table of Contents and Definitions ...... 1
Part II Corporate Information and Key Financial Information ...... 6
Part III Management Discussion and Analysis ...... 10
Part IV Corporate Governance ...... 28
Part V Environmental and Social Responsibility ...... 31
Part VI Significant Events ...... 37
Part VII Share Changes and Shareholder Information ...... 49
Part VIII Preferred Shares ...... 57
Part IX Bonds ...... 58
Part X Financial Statements ...... 60
Documents Available for Reference
(I) The financial statements signed and sealed by the Company’s legal representative, President, Chief Financial Officer and head ofthe financial department (equivalent to financial manager); and
(II) The originals of all the documents and announcements that the Company disclosed on www.cninfo.com.cn during the ReportingPeriod.
All the above mentioned documents are available at the Board Secretary’s Office of the Company.
Chairman of the Board (signature): Mr. Chen Yanshun
Date of the Board’s approval of this Report:
26 August 2024
Definitions
| Term | Definition |
| “BOE”, the “Company”, the “Group” or “we” | BOE Technology Group Co., Ltd. and its consolidated subsidiaries, except where the context otherwise requires |
| The cninfo website | http://www.cninfo.com.cn/ |
| CSRC | The China Securities Regulatory Commission |
| SZSE, the Stock Exchange | The Shenzhen Stock Exchange |
| The Compliance in Operation of Main Board Listed Companies | Guideline No. 1 of the Shenzhen Stock Exchange Regarding Self-disciplinary Activities and Regulation of Listed Companies—Compliance in Operation of Main Board Listed Companies |
| The Articles of Association | The Articles of Association of BOE Technology Group Co., Ltd. |
| The Rules of Procedure for the Board of Directors | The Rules of Procedure for the Board of Directors of BOE Technology Group Co., Ltd. |
| The Rules for Independent Directors | The Rules for Independent Directors of BOE Technology Group Co., Ltd. |
| The Rules of Procedure for the Supervisory Committee | The Rules of Procedure for the Supervisory Committee of BOE Technology Group Co., Ltd. |
| The Methods for the Administration of Information Disclosure | The Methods for the Administration of Information Disclosure of BOE Technology Group Co., Ltd. |
| The Composition and Rules of Procedure of the Risk Control and Audit Committee of the Board of Directors | The Composition and Rules of Procedure of the Risk Control and Audit Committee of the Board of Directors of BOE Technology Group Co., Ltd. |
| The Methods for the Administration of Appointment of CPA Firm | The Methods for the Administration of Appointment of CPA Firm of BOE Technology Group Co., Ltd. |
| Three Virtues | Gratitude, awe, and transcendence |
| Five Spirits | Backbone, ambition, courage, morale, and confidence |
| HC Semitek | BOE HC Semitek Corporation |
| Shengshi Technology | Beijing BOE Shengshi Technology Co., Ltd. |
| Suzhou Sensor | Suzhou BOE Sensor Technology Co., Ltd. |
| Varitronix | BOE Varitronix Limited |
| Energy Technology | BOE Energy Technology Co., Ltd., formerly known as “Beijing BOE Energy Technology Co., Ltd.” |
| Zhongxiangying | Beijing Zhongxiangying Technology Co., Ltd. |
| UPTC | UPTC (Beijing) Technology Co., Ltd. |
| 16K | 16K resolution (15360 × 8640 pixels) |
| 3D | Three Dimensions |
| 8K | 8K resolution (7680×4320 pixels) |
| ADS pro | One of BOE's three major technology brands |
| AI | Artificial Intelligence |
| AMOLED | Active-matrix Organic Light Emitting Diode |
| α-MLED | One of BOE's three major technology brands |
| BSEOS | BOE Smart Energy Operation System |
| DIC | Display Innovation China |
| DMS | Driver Monitor System |
| ESL | Electronic Shelf Label |
| FHD | Full High Definition |
| f-OLED | One of BOE's three major technology brands |
| HERO | Smart cockpit innovation scenarios covering Healthiness, Entertainment, Relaxation and Office |
| H.629.1 | Standard ITU-TH.629.1: Scenarios, Framework and Metadata for Digitalized Artwork Images Display System approved by the International Telecommunication Union |
| Hz | Hertz |
| IPD | Integrated Passive Device |
| IRC | IR Drop Compensate |
| IoT | Internet of Things |
| IFI | IFI Claims, a U.S. intellectual property information service provider |
| LED | Light-emitting Diode |
| LCD | Liquid Crystal Display |
| MLED | Mini/Micro LED |
| Microdisplay | A display technology |
| MEMS | Micro-Electro-Mechanical System |
| Mini/Micro LED | Sub-millimetre/miniature light-emitting diode |
| MNT | Monitor |
| NB | Note Book |
| OLED | Organic Light Emitting Diode |
| PIS | Passenger Information System |
| PCT | Patent Cooperation Treaty |
| SID | The Society for Information Display |
| SaaS | Software as a Service |
| TFT-LCD | Thin Film Transistor Liquid Crystal Display |
| TGV | Through Glass Via |
| TC1 WG1 | The Artificial Intelligence Work Group of the Internet and Application Technical Committee of China Communications Standards Association |
| UB Cell | “Ultra Black, Ultra Bright, Ultra Brilliant”, a naturalistic LCD technology |
| VR/AR | Virtual Reality /Augmented Reality |
| VGP | Visual Grand Prix |
| WIPO | World Intellectual Property Organization |
| X-ray | A type of radiation that can pass through objects that are not transparent and make it possible to see inside them |
Part II Corporate Information and Key Financial Information
I Corporate Information
| Stock name | BOE-A, BOE-B | Stock code | 000725, 200725 |
| Changed stock name (if any) | N/A | ||
| Stock exchange for stock listing | Shenzhen Stock Exchange | ||
| Company name in Chinese | 京东方科技集团股份有限公司 | ||
| Abbr. (if any) | 京东方 | ||
| Company name in English (if any) | BOE TECHNOLOGY GROUP CO., LTD. | ||
| Abbr. (if any) | BOE | ||
| Legal representative | Chen Yanshun | ||
II Contact Information
| Item | Board Secretary | Securities Representative |
| Name | Liu Hongfeng | Luo Wenjie |
| Address | 12 Xihuan Middle Road, Beijing Economic-Technological Development Area, Beijing, P.R.China | 12 Xihuan Middle Road, Beijing Economic-Technological Development Area, Beijing, P.R.China |
| Tel. | 010-64318888 ext. | 010-64318888 ext. |
| Fax | 010-64366264 | 010-64366264 |
| Email address | liuhongfeng@boe.com.cn | luowenjie@boe.com.cn |
III Other Information
1. Contact Information of the Company
Indicate by tick mark whether any change occurred to the registered address, office address and their zip codes, website address, emailaddress and other contact information of the Company in the Reporting Period.
□ Applicable ? Not applicable
No change occurred to the said information in the Reporting Period, which can be found in the 2023 Annual Report.
2. Media for Information Disclosure and Place where this Report is LodgedIndicate by tick mark whether any change occurred to the information disclosure media and the place for keeping the Company’speriodic reports in the Reporting Period.
□ Applicable ? Not applicable
The website of the stock exchange, the media and other website where the Company’s periodic reports are disclosed, as well as theplace for keeping such reports did not change in the Reporting Period. The said information can be found in the 2023 Annual Report.
3. Other Information
Indicate by tick mark whether any change occurred to other information in the Reporting Period.
□ Applicable ? Not applicable
IV Key Financial Information
Indicate by tick mark whether there is any retrospectively restated datum in the table below.
□ Yes ? No
| Item | H1 2024 | H1 2023 | Change (%) |
| Operating revenue (RMB) | 93,386,241,632.00 | 80,177,875,220.00 | 16.47% |
| Net profit attributable to the listed company’s shareholders (RMB) | 2,284,051,354.00 | 735,809,609.00 | 210.41% |
| Net profit attributable to the listed company’s shareholders before exceptional gains and losses (RMB) | 1,613,403,381.00 | -1,584,440,291.00 | 201.83% |
| Net cash generated from/used in operating activities (RMB) | 24,878,969,292.00 | 16,243,669,123.00 | 53.16% |
| Basic earnings per share (RMB/share) | 0.06 | 0.02 | 200.00% |
| Diluted earnings per share (RMB/share) | 0.06 | 0.02 | 200.00% |
| Weighted average return on equity (%) | 1.75% | 0.50% | 1.25% |
| Item | 30 June 2024 | 31 December 2023 | Change (%) |
| Total assets (RMB) | 422,367,862,387.00 | 419,187,099,795.00 | 0.76% |
| Equity attributable to the listed company’s shareholders (RMB) | 130,834,067,578.00 | 129,428,307,067.00 | 1.09% |
V Accounting Data Differences under China’s Accounting Standards for Business Enterprises(CAS) and International Financial Reporting Standards (IFRS) and Foreign AccountingStandards
1. Net Profit and Net Asset Differences under CAS and IFRS
□ Applicable ? Not applicable
No such differences for the Reporting Period.
2. Net Profit and Net Asset Differences under CAS and Foreign Accounting Standards
□ Applicable ? Not applicable
No such differences for the Reporting Period.VI Exceptional Gains and Losses
? Applicable □ Not applicable
Unit: RMB
| Item | Amount | Note |
| Gain or loss on disposal of non-current assets (inclusive of impairment allowance write-offs) | 38,121,550.00 | N/A |
| Government grants recognised in current profit or loss (exclusive of those that are closely related to the Company's normal business operations and given in accordance with defined criteria and in compliance with government policies, and have a continuing impact on the Company's profit or loss) | 767,564,807.00 | N/A |
| Gain or loss on fair-value changes in financial assets and liabilities held by a non-financial enterprise, as well as on disposal of financial assets and liabilities (exclusive of the effective portion of hedges that arise in the Company’s ordinary course of business) | -33,613,871.00 | N/A |
| Capital occupation charges on a non-financial enterprise that are charged to current profit or loss | 0.00 | N/A |
| Gain or loss on assets entrusted to other entities for investment or management | 0.00 | N/A |
| Gain or loss on loan entrustments | 0.00 | N/A |
| Asset losses due to acts of God such as natural disasters | 0.00 | N/A |
| Reversed portions of impairment allowances for receivables which are tested individually for impairment | 3,096,389.00 | N/A |
| Gain 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 net assets of investees when making investments | 0.00 | N/A |
| Current profit or loss on subsidiaries obtained in business combinations involving enterprises under common control from the period-beginning to combination dates, net | 0.00 | N/A |
| Gain or loss on non-monetary asset swaps | 0.00 | N/A |
| Gain or loss on debt restructuring | 0.00 | N/A |
| One-off costs incurred by the Company as a result of discontinued operations, such as expenses for employee arrangements | 0.00 | N/A |
| One-time effect on current profit or loss due to adjustments in tax, accounting and other laws and regulations | 0.00 | N/A |
| One-time share-based payments recognized due to cancellation and modification of equity incentive plans | 0.00 | N/A |
| Gain or loss on changes in the fair value of employee benefits payable after the vesting date for cash-settled share-based payments | 0.00 | N/A |
| Gain or loss on fair-value changes in investment property of which subsequent measurement is carried out using the fair value method | 0.00 | N/A |
| Income from transactions with distinctly unfair prices | 0.00 | N/A |
| Gain or loss on contingencies that are unrelated to the Company's normal business operations | 0.00 | N/A |
| Income from charges on entrusted management | 0.00 | N/A |
| Non-operating income and expense other than the above | 69,490,439.00 | N/A |
| Other gains and losses that meet the definition of exceptional gain/loss | 0.00 | N/A |
| Less: Income tax effects | 4,204,537.00 | N/A |
| Non-controlling interests effects (net of tax) | 169,806,804.00 | N/A |
| Total | 670,647,973.00 |
Particulars about other gains and losses that meet the definition of exceptional gain/loss:
□ Applicable ? Not applicable
No such cases for the Reporting Period.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 for the Reporting Period.
Part III Management Discussion and AnalysisI Principal Operations of the Company in the Reporting Period(I) About the CompanyIn constant pursuit of excellence, BOE Technology Group Co., Ltd. is an innovative IoT company dedicated to providing intelligentinterface products and professional services for information interaction and human health.With “To Be the Most Respected Company on Earth” as its vision and, BOE always keeps in mind the mission of “Change Life withBOE Display Everywhere”, upholds the core values of “Integrity & Reliability, Dedication to Customers, Being People-oriented,Openness and Innovation”, as well as adheres to the business philosophy of “Doing the Right Thing, Innovation and Progress Seeking”.In pursuit of high-quality development, BOE has been forging ahead through innovation, promoting both reasonable growth in financialresults and effective improvement in development quality, as well as accelerating the realisation of high-level synergies. Upon decadesof development, BOE has grown into a world leader in the semiconductor display industry and a global innovative company in the IoTsector. At present, it has a significant number of intelligent manufacturing bases in Beijing, Hefei, Chengdu, Chongqing, Fuzhou,Mianyang, Wuhan, Kunming, Ordos, etc., with subsidiaries in the United States, Germany, Japan, South Korea, Singapore, India,Brazil, the United Arab Emirates and other countries and regions, as well as a service system that covers major regions of the world,such as Europe, Americas, Asia, and Africa.Adhering to a “market-oriented, international, and professional” development approach, the Company keeps in mind the people-oriented principle, drives continuous innovations in an intelligent and IoT-based era, as well as provides customers with better productsand more thoughtful service experience with its well-established global network and a diverse product and service system.To embrace the development trends of the industry, BOE has put in place a development architecture of "1+4+N+Ecosystem", amongwhich:
"1" represents semiconductor display, which is the core capacity and quality resources accumulated by BOE, as well as the source andorigin of the Company's development."4" is a high-potential channel and direction of development selected based on BOE's core competence and value chain extension, aswell as the four main fronts of the Company's IoT development, namely the IoT Innovation business, the Sensor business, the MLEDbusiness and the Smart Engineering Medicine business."N" refers to the subdivided application scenarios of IoT that are continuously explored and cultivated by BOE, as well as the specificfocus of the Company's IoT development.“Ecosystem” is an industrial ecological development circle constructed by the Company in collaboration with many partners and byaggregating the resources of the industrial chain and ecosystem chain.(II) About the Company’s principal operations
1. The Display Devices business
The Display Devices business offers integrated design and manufacturing services for devices, and is committed to providing interfacedevices applying AMOLED, TFT-LCD, Microdisplay and other technologies, focusing on providing customers with high-qualitydisplay devices for smartphones, tablet PCs, laptops, monitors, TVs, vehicles, VR/AR devices, etc.
2. The IoT Innovation business
The IoT Innovation business offers integrated design and manufacturing services for system solutions, and provides customers withcompetitive smart terminal products for TVs, monitors, laptops, tablets, low-power devices, IoT, 3D display, etc. Backed by AI andbig data technologies, it focuses on products and services combining hardware and software, providing integrated IoT solutions forsegments including smart industrial parks, smart finance, etc.
3. The Sensor business
The Sensor business offers integrated design and manufacturing solutions, focuses on smart display windows, industrial sensors,innovative glass-based sensor devices, MEMS sensors and other fields, and provides customers with products and services includingintelligent PDLC windows and PDLC system solutions, industrial application, consumer electronics, automotive electronic sensors andsolutions, and back plates for flat panel X-ray detectors (FPXD), among others.
4. The MLED business
The MLED business provides LED solutions with integrated R&D, manufacturing and marketing services. Focused on devices andsolutions, this business renders LED backlight products with high quality and reliability for TVs, monitors, notebooks, vehicles, VR/ARdevices, etc., as well as Mini/Micro-LED display products with high brightness, high reliability and high contrast for segment marketsof outdoor, commercial, transparent, specialized and other displays. All these products are designed and manufactured in an integratedmanner.
5. The Smart Engineering Medicine business
The Smart Engineering Medicine business adopts a professional service model to provide products, services and solutions in relationto medical care, smart nursing, medical-engineering integration, etc. Meanwhile, this business is committed to providing a closed loopof through-life health services with health management as the core, medical terminals as the traction, and digital hospitals andrecreational communities as the support. It connects testing equipment, healthcare workers and customers through the smart healthmanagement ecosystem where customers enjoy professional health services including prevention, treatment, therapy and nursing.
6. The “N” business
With a specific focus on the "N" business, the Company provides hardware and software integrated system solutions for differentsegments, including smart vehicle connection, smart energy, industrial IoT, UHD display, digital art, etc., which can provide customerswith multi-functional and smart new experience under IoT scenarios. Particularly, in terms of smart vehicle connection, the businessintegrates DMS, gesture recognition, touch feedback, naked-eye 3D and other cutting-edge functions, focuses on the intelligent cockpit"HERO" innovative application scenarios that include four dimensions of healthiness, entertainment, relaxation, and office, andpromote the continuous upgrading of products and solutions in the field of vehicle-mounted display and interaction. One-stop productsand services for automotive intelligent upgrading are provided to bring fresh and comfortable driving experience, representing a newleading ecosystem of innovative and intelligent travel.In terms of the smart energy business, BOE focuses on zero-carbon integrated energy services. With its independently developed BOESmart Energy Operation System ("BSEOS", or "BES" for short) as the empowering platform, it revolves around various aspects of"source-grid-load-storage-carbon." In typical energy usage scenarios such as industrial, commercial, parks, and public facilities, itoffers a zero-carbon implementation path of "source decarbonization, process decarbonization, and intelligent carbon management,"providing customers with comprehensive energy supply, services, and zero-carbon solutions, aiding in societal green development andecological civilization construction.In terms of the industrial internet business, BOE is committed to providing advanced industrial software, intelligent manufacturingsolutions, and product services for the pan-semiconductor industry. Leveraging over thirty years of industry experience, BOE hasdeveloped industrial software, industrial AI, plant automation, and other products and services, empowering customers in their digitaltransformation and continuously driving high-quality industry development.In terms of ultra-high-definition display products, BOE aims to become a global leader in ultra-high-definition digital products andsolutions. With core technologies and the localization and commercial-scale application of products, the entire industry chain of ultra-high-definition front-end capture, transmission, distribution, and terminal display has entered a new development stage. BOEindependently designed and built the world's first set of "8K+5G+22.2-channel" ultra-high-definition 3D sound broadcast vehicles,achieving a breakthrough in domestic 8K ultra-high-definition integrated broadcasting systems, connecting the 8K ultra-high-definitionvideo industry content production chain, and promoting the widespread application of ultra-high-definition in visual arts, smartgovernance, smart transportation, and other digital scenarios.
In the field of digital artworks, the business adheres to "culture + technology" cross-field integration and innovation, launches the "onemillion digital culture experience scenario programme" around International Standard H.629.1 for digital art display, and join handswith partners at the content-, technology- and application-ends, so as to empower culture with display products and solutions with morefunctions and forms and better experience.II Core Competitiveness Analysis
1. Elevating strategy and establishing a sustainable value growth system
Based on years of practical exploration in the semiconductor display and Internet of Things (IoT) industry, the Company has proposedthe strategy of "Empower IoT with Display" that is suitable for the high-quality development. It regards "display" as an important portfor human information interaction and the first channel that shows the integration of digital and real world in the IoT era, fullyleveraging its core advantage of "display" to work with ecological partners to seize the ubiquitous growth opportunities of "display"and expand the application capabilities of "display" software and hardware integration by integrating more functions, deriving moreforms, and inserting more scenarios. In this way, the Company will achieve the user perception revolution of "display as terminal" inthe IoT era, build an industrial ecology of "display as platform and display as system" in the intelligent digital age.Guided by the "Empower IoT with Display" strategy, and leveraging its core strengths and technological innovation capabilities, theCompany continuously extends its value chain, propelling strategic elevation. By strengthening key technologies such as AI and bigdata, the Company has built a complete industry value creation system from display components to smart terminals, and further tosystem solutions. Additionally, in collaboration with industry upstream and downstream ecological partners, the Company consistentlyhas established the strongest product competitiveness and system integration ability in the industry to meet the diversified needs ofcustomers and achieves a transformation from "single device value creation" to "Empower IoT with Display entire industry chain valuecreation", from "independent company value creation" to "synergistic ecological value creation", supporting sustainable high-qualitydevelopment for the Company.
2. Reinforcing industry-leading market advantage with agile response
In alignment with the trends of digitalization and intelligence in industrial development, the Company remains customer-oriented,seizes market development opportunities, responds to customer needs with a keen eye, actively expands global markets based onexisting businesses, engages in forward-looking layouts, consistently consolidates its leading position in the market, and explores newbusiness growth points.In the first half of 2024, the Company continued to maintain its leading edge in the semiconductor display field. In the LCD sector, theCompany retained its position as the global leader in shipments for the five major applications, with an increasing share of core clients.Meanwhile, due to its continuous optimization of its product mix, the shipment volume of its advantageous high-end flagship productsremained on the rise, with large-sized products (≥ 85") achieving the world's largest shipment volume. In the flexible OLED sector,the shipment volume increased further, with a year-on-year increase of over 25%. Multiple high-end foldable products of flexibleAMOLED were exclusively supplied to customers, and various brand-first products were launched.The Company persistently adheres to innovative development, with emerging achievements in various segmented markets. Overseasexpansion of smart terminals accelerated, with the timely commencement of phase two of the smart terminal project in Vietnam. Theglobal deployment capacity of products and services was further strengthened, with IoT applications and low-power terminalsmaintaining the global lead in segmented markets like whiteboards, splicing products, and ESL. The system solution business has beenpromoted continually, with the iterative upgrade of the comprehensive management platform for smart financial outlets. This platformwas successfully implemented in multiple intelligent bank outlets in regions like Hunan and Guangzhou. The smart park completedthe iterative upgrade of its park IoT management platform and operation service platform, transforming standard products into SaaSsolutions, driving the implementation of benchmark projects in cultural and tourism parks. The competitiveness of branded productscontinued to improve, with the launch of the C100 all-in-one machine integrating functions like smart voice pens, AI-based conferencesummaries, on-device voice transcription, and large model Q&A technologies. The MLED business continued to refine its industrial
chain, expanding applications for LED direct displays. Various benchmark projects were delivered in outdoor displays, commercialdisplays, movie screens, and creative displays using high-brightness, high-reliability, and high-contrast products. The comprehensivecompetitiveness of the backlight business was further enhanced, with the launch of multiple high-end products like Mini, curved, andcustom-shaped products in segmented fields such as NB, MNT, and automotive, in collaboration with top customers in the industry.The MNT 31.5" product received gold prize of the Visual Grand Prix (VGP) Awards. As for the Sensor business, Beijing BOE ShengshiTechnology Co., Ltd. has accessed multiple automotive consumers. Their self-developed photovoltaic wireless dimming system wasthe industry's first. Suzhou Sensor has successfully introduced several top consumers from industries like photovoltaics and lithiumbatteries. The conversion and R&D capabilities of MEMS/IPD products gradually improved, with their self-developed wafer-levellead-free TGV MEMS pressure sensor gaining recognition from top clients. The digital hospital continued to enhance its corecapabilities, with a total of 760,000 outpatient visits, a 31% year-on-year increase, and 31,000 discharged patients, a 22% year-on-yearincrease. Operational quality significantly improved. The construction of the Chengdu Smart Medical and Elderly Care Center wascompleted, advancing customer sign-ups.In the Company's "N" business, BOE Varitronix Limited steadily explored overseas markets, providing top-tier services for overseasautomotive projects and maintaining the industry's leading position in car display shipments. Revenue of Energy Technology doubled,upgrading three engineering contracting qualifications to level two in electricity, electromechanics, and communications. The Companyreceived multiple software copyrights from the China Copyright Center and various honours, like being included in the list of Top 10Typical International Innovative Applications of Energy Storage. Beijing Zhongxiangying Technology Co., Ltd. has achieved asignificant improvement in device current-voltage simulation speed from minutes to under 30 seconds, with a 5% increase in simulationaccuracy. The Company successfully bid for over 50 external clients, achieving breakthroughs in multiple industries such assemiconductor, film materials, and photovoltaics. UPTC continued to focus on breakthroughs in the ultra-high-definition digital track,completing industry benchmark projects such as the Liangma River Platinum Palace Lock Super 8K Digital Immersive Space, the IntelGTC (Global Trade Center) Technology Experience Center, and PIS systems at top 10 airports nationwide in cities like Xi'an,Chongqing, and Beijing. The commercial model of the nationwide live broadcast of Sudi Chunxiao in ultra-high definition for the firsttime was successfully implemented, maintaining a leading market share in 8K professional production and broadcasting technologyservices.
3. Being driven by innovation and forging excellent technological leadership abilities
The Company is committed to being driven by technological innovation, constructing a comprehensive innovation ecosystem, andpragmatically advancing the rapid development of key innovation platforms in semiconductor displays, IoT innovation, and sensordevices. To adapt to the trends of the intelligent era, the Company comprehensively builds a technology architecture of "Empower IoTwith Display", including device layer, terminal layer, platform layer, and application layer, creating three major technological brands:
ADS Pro, f-OLED, and α-MLED. With a systematic technological innovation capability that integrates software and hardware,provides key support for the value extension of its "device - terminal - scenario".In terms of technology and products, the Company continuously upgrades its display technology, enhances OLED low-powerconsumption and image quality, introduces multiple AI technologies such as OLED IRC, and wins the 2024 DIC AWARD for the AI+display device image enhancement technology solution. The Company also led the development of the industry's first industrial largemodel group standard (TC1WG1) and China's first General Artificial Intelligence Blue Book, officially released three national standardsfor touch display, flexible display performance, and testing methods. The influence of its products continues to grow, with the launchof several high-end products such as UB Cell 3.0, MNT FHD 520Hz, and a vehicle-mounted dual 17" spliced rolling screen. The 110"16K naked-eye 3D terminal and 32" light field display each received the SID 2024 PCA (People's Choice Award), further enhancingthe global influence of its technological brand.Regarding patents, the Company continuously strengthens its high-quality patent layout, with over 4,000 new patent applications inthe first half of the year, including over 90% invention patents and over 30% overseas patents covering multiple countries and regionssuch as the United States, Europe, Japan, and Korea, spanning various fields like flexible OLEDs, sensors, artificial intelligence, andbig data. The Company's technological innovation prowess has been repeatedly recognized, entering the global TOP20 in the IFI U.S.
patent authorization ranking for six consecutive years and the global TOP10 in WIPO's global PCT patent application for eightconsecutive years. In 2024, it ranked 12th in the first-ever released Top 100 Global Innovators by Clarivate Analytics, furtherdemonstrating its innovation strength and technological leadership as an industry leader.
4. Constructing a sound digital governance system with lean management
The Company persists in enhancing its lean management approach, focusing on strategic resource investments, and establishing astreamlined, digitalized, standardized, and process-driven operational structure to solidify its position as a global leader with enhancedcompetitive strengths.In terms of operational management, it keeps improving the platform-based organisational design and adheres to the operationalmanagement system of “three offices and three managements”. The Company combines the organisational mechanism of an agile frontoffice, an intensive middle office, and an efficient back office with key measures such as strategy, procedures and performance tocontinuously strengthen the coordinated operation of the three offices and increase the Company’s operational efficiency. Under the“three offices and three managements” operational framework, the Company piloted a “Platform + Battle Team” model—a matrixedmanagement style where “Battle Teams lead engagements while Platforms handle infrastructure.” This method reinforces customer-centric management, balances responsibilities and rights, fosters internal synergy, and facilitates the high-quality operation of theCompany.In terms of digital transformation, the Company has fortified its digital processes, advanced online process digitization and digitaloperations, and continued to promote the construction of “one digital and visible BOE” with digital transformation projects as breach,so as to strengthen process efficiency improvement and value creation. Based on five major capability platforms - solution capabilityplatform, development technology platform, data platform, secure operation platform, and cloud infrastructure platform, the Companydeeply advances the construction of a digital technology foundation. It firmly centres around product and technology leadershipstrategies, platform strategies, standardization strategies, and steadily achieves milestones in major digital projects, progressing steadilyin digital transformation.
5. Inheriting a cohesion-oriented and excellent corporate culture and value system
The Company has always adhered to the original aspiration. In more than 30 years of entrepreneurship and innovation practices, theCompany has developed a series of outstanding corporate culture and core values, which have inspired generations of its employees tobravely shoulder responsibilities and forge ahead. The Company always cherishes "three virtues" including gratitude, awe andtranscendence, and "five spirits" including backbone, ambition, courage, morale, and confidence, steadfastly following the growthlogic of "inheritance, innovation, and development," striving tirelessly to be the most respected company on earth. The Company willalways uphold the management philosophy of "transparency and efficiency, vitality and empowerment," the work philosophy of"innovation and pragmatism, growth-oriented," and the talent philosophy of "cultivating outstanding individuals, energizing themasses," adhering to behavioural guidelines such as principles of "scholar wisdom, commercial thinking, and chivalrous bearing" and"observe the problem and bear the responsibility from an overall point of view, think from a different point of view and clarify theresponsibilities of each position, dare to raise problems and help solve them", guiding all BOE employees to work and develop theircareer, inherit and promote excellent corporate culture and values, and assist the Company in achieving high-quality development.
III Analysis of Core BusinessesOverview:
See contents under the heading “I Principal Operations of the Company in the Reporting Period” above.Year-on-year changes in key financial data:
Unit: RMB
| Item | H1 2024 | H1 2023 | Change (%) | Main reason for change |
| Operating revenue | 93,386,241,632.00 | 80,177,875,220.00 | 16.47% | N/A |
| Cost of sales | 78,449,047,476.00 | 72,933,845,456.00 | 7.56% | N/A |
| Selling expense | 1,890,377,290.00 | 1,927,463,296.00 | -1.92% | N/A |
| Administrative expense | 2,833,605,971.00 | 2,733,334,581.00 | 3.67% | N/A |
| Finance costs | 295,442,333.00 | 436,869,094.00 | -32.37% | Decreased net interest expense and increased net exchange gains in the Reporting Period |
| Income tax expense | 508,068,093.00 | 820,532,936.00 | -38.08% | Temporary differences of assets in the Reporting Period |
| R&D investments | 5,842,590,541.00 | 5,267,009,863.00 | 10.93% | N/A |
| Net cash generated from/used in operating activities | 24,878,969,292.00 | 16,243,669,123.00 | 53.16% | Increased sales in the Reporting Period |
| Net cash generated from/used in investing activities | -15,514,054,444.00 | -2,022,756,127.00 | -666.98% | Increased net cash outflows from investments in wealth management products in the Reporting Period |
| Net cash generated from/used in financing activities | -3,824,920,788.00 | -18,815,007,770.00 | 79.67% | Increased cash inflows from borrowings received and decreased repayment of perpetual bonds in the Reporting Period |
| Net increase in cash and cash equivalents | 5,863,820,613.00 | -3,793,720,888.00 | 254.57% | Increased sales and decreased repayment of perpetual bonds in the Reporting Period |
Material changes to the profit structure or sources of the Company in the Reporting Period:
□ Applicable ? Not applicable
No such changes in the Reporting Period.Breakdown of operating revenue:
Unit: RMB
| Item | H1 2024 | H1 2023 | Change (%) | ||
| Operating revenue | As % of total operating revenue (%) | Operating revenue | As % of total operating revenue (%) | ||
| Total | 93,386,241,632.00 | 100% | 80,177,875,220.00 | 100% | 16.47% |
| By operating division | |||||
| Display Devices business | 78,013,141,508.00 | 83.54% | 67,913,897,300.00 | 84.70% | 14.87% |
| IoT Innovation business | 17,155,911,452.00 | 18.37% | 15,515,675,119.00 | 19.35% | 10.57% |
| Sensor business | 163,437,762.00 | 0.18% | 183,294,095.00 | 0.23% | -10.83% |
| MLED business | 4,033,466,005.00 | 4.32% | 1,867,788,858.00 | 2.33% | 115.95% |
| Smart Engineering Medicine business | 903,706,724.00 | 0.97% | 795,300,344.00 | 0.99% | 13.63% |
| Other business and offset among segments | -6,883,421,819.00 | -7.38% | -6,098,080,496.00 | -7.61% | 12.88% |
| By product category | |||||
| Display Devices business | 78,013,141,508.00 | 83.54% | 67,913,897,300.00 | 84.70% | 14.87% |
| IoT Innovation business | 17,155,911,452.00 | 18.37% | 15,515,675,119.00 | 19.35% | 10.57% |
| Sensor business | 163,437,762.00 | 0.18% | 183,294,095.00 | 0.23% | -10.83% |
| MLED business | 4,033,466,005.00 | 4.32% | 1,867,788,858.00 | 2.33% | 115.95% |
| Smart Engineering Medicine business | 903,706,724.00 | 0.97% | 795,300,344.00 | 0.99% | 13.63% |
| Other business and offset among segments | -6,883,421,819.00 | -7.38% | -6,098,080,496.00 | -7.61% | 12.88% |
| By operating segment | |||||
| Mainland China | 49,668,918,111.00 | 53.19% | 34,647,943,197.00 | 43.21% | 43.35% |
| Other regions in Asia | 24,963,621,059.00 | 26.73% | 25,141,466,187.00 | 31.36% | -0.71% |
| Europe | 2,535,303,477.00 | 2.71% | 2,879,703,018.00 | 3.59% | -11.96% |
| America | 16,198,047,588.00 | 17.35% | 17,499,907,821.00 | 21.83% | -7.44% |
| Other regions | 20,351,397.00 | 0.02% | 8,854,997.00 | 0.01% | 129.83% |
Operating division, product category or operating segment contributing over 10% of operating revenue or operating profit:
? Applicable □ Not applicable
Unit: RMB
| Item | Operating revenue | Cost of sales | Gross profit margin | YoY change in operating revenue (%) | YoY change in cost of sales (%) | YoY change in gross profit margin (%) |
| By operating division | ||||||
| Display Devices business | 78,013,141,508.00 | 67,160,068,734.00 | 13.91% | 14.87% | 5.20% | 7.92% |
| IoT Innovation business | 17,155,911,452.00 | 15,276,765,666.00 | 10.95% | 10.57% | 6.99% | 2.97% |
| By product category | ||||||
| Display Devices business | 78,013,141,508.00 | 67,160,068,734.00 | 13.91% | 14.87% | 5.20% | 7.92% |
| IoT Innovation business | 17,155,911,452.00 | 15,276,765,666.00 | 10.95% | 10.57% | 6.99% | 2.97% |
| By operating segment | ||||||
| Mainland China | 49,668,918,111.00 | 41,024,545,899.00 | 17.40% | 43.35% | 29.36% | 8.93% |
| Other regions in Asia | 24,963,621,059.00 | 21,092,890,859.00 | 15.51% | -0.71% | -9.67% | 8.39% |
| America | 16,198,047,588.00 | 14,004,534,342.00 | 13.54% | -7.44% | -7.95% | 0.48% |
Core business data of the prior year restated according to the changed statistical caliber for the Reporting Period:
□ Applicable ? Not applicable
IV Analysis of Non-Core Businesses
? Applicable □ Not applicable
Unit: RMB
| Item | Amount | As % of total profit | Source/Reason | Recurrent or not |
| Return on investment | -211,962,576.00 | -9.30% | Losses recognized from associates | Not |
| Gain/loss on changes in fair value | -50,062,137.00 | -2.20% | N/A | Not |
| Asset impairments | -2,086,855,010.00 | -91.58% | Inventory valuation allowances established based on market conditions | Not |
| Non-operating income | 119,556,239.00 | 5.25% | N/A | Not |
| Non-operating expense | 46,890,002.00 | 2.06% | N/A | Not |
V Analysis of Assets and Liabilities
1. Material Changes in Asset Composition
Unit: RMB
| Item | 30 June 2024 | 31 December 2023 | Change in percentage (%) | Reason for material change | ||
| Amount | As % of total assets | Amount | As % of total assets | |||
| Monetary assets | 82,202,140,937.00 | 19.46% | 72,467,392,718.00 | 17.29% | 2.17% | N/A |
| Accounts receivable | 32,321,586,674.00 | 7.65% | 33,365,416,490.00 | 7.96% | -0.31% | N/A |
| Contract assets | 115,457,722.00 | 0.03% | 95,710,742.00 | 0.02% | 0.01% | N/A |
| Inventories | 26,029,426,424.00 | 6.16% | 24,119,667,325.00 | 5.75% | 0.41% | N/A |
| Investment property | 1,456,236,579.00 | 0.34% | 1,412,553,446.00 | 0.34% | 0.00% | N/A |
| Long-term equity investments | 13,156,657,396.00 | 3.11% | 13,731,696,627.00 | 3.28% | -0.17% | N/A |
| Fixed assets | 211,615,521,758.00 | 50.10% | 210,371,476,524.00 | 50.19% | -0.09% | N/A |
| Construction in progress | 18,750,692,333.00 | 4.44% | 29,670,115,546.00 | 7.08% | -2.64% | Transfer of new constructions to fixed assets in the Reporting Period, resulting in decreased construction in progress |
| Right-of-use assets | 780,388,211.00 | 0.18% | 724,344,345.00 | 0.17% | 0.01% | N/A |
| Short-term borrowings | 1,834,826,491.00 | 0.43% | 1,746,184,534.00 | 0.42% | 0.01% | N/A |
| Contract liabilities | 2,719,095,139.00 | 0.64% | 3,000,168,620.00 | 0.72% | -0.08% | N/A |
| Long-term borrowings | 112,571,968,308.00 | 26.65% | 121,546,339,022.00 | 29.00% | -2.35% | N/A |
| Lease liabilities | 656,019,088.00 | 0.16% | 542,141,496.00 | 0.13% | 0.03% | N/A |
2. Major Assets Overseas
□ Applicable ? Not applicable
3. Assets and Liabilities at Fair Value
? Applicable □ Not applicable
Unit: RMB
| Item | Beginning amount | Gain/loss on fair-value changes in the Reporting Period | Cumulative fair-value changes charged to equity | Impairment allowance for the Reporting Period | Purchased in the Reporting Period | Sold in the Reporting Period | Other changes | Ending amount |
| Financial assets | ||||||||
| 1. Held-for-trading financial assets (excluding derivative financial assets) | 7,755,964,495.00 | -50,062,137.00 | 0.00 | 0.00 | 18,429,039,959.00 | 17,722,507,376.00 | 0.00 | 8,413,163,737.00 |
| 2.Derivative financial assets | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 3. Investments in other debt obligations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 4. Investments in other equity instruments | 494,629,577.00 | 0.00 | -173,731,259.00 | 0.00 | 608,904.00 | 9,235,062.00 | 0.00 | 480,818,902.00 |
| 5. Other non-current financial assets | 2,253,778,325.00 | 0.00 | 0.00 | 0.00 | 54,061,357.00 | 0.00 | 0.00 | 2,307,839,682.00 |
| Subtotal of financial assets | 10,504,372,397.00 | -50,062,137.00 | -173,731,259.00 | 0.00 | 18,483,710,220.00 | 17,731,742,438.00 | 0.00 | 11,201,822,321.00 |
| Investment property | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Productive living assets | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Others | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Receivables financing | 408,534,622.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 19,763,926.00 | 428,298,548.00 |
| Total of the above | 10,912,907,019.00 | -50,062,137.00 | -173,731,259.00 | 0.00 | 18,483,710,220.00 | 17,731,742,438.00 | 19,763,926.00 | 11,630,120,869.00 |
| Financial liabilities | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Contents of other changes:
N/ASignificant changes to the measurement attributes of the major assets in the Reporting Period:
□ Yes ? No
4. Restricted Asset Rights as at the Period-End
Unit: RMB
| Item | Ending carrying value | Reason for restriction |
| Monetary assets | 1,462,511,849.00 | Mainly security deposits, and amounts put in pledge for the issuance of notes payable |
| Notes receivable | 300,980,837.00 | Endorsed and transferred with right of recourse, and those put in pledge for the issuance of notes payable |
| Fixed assets | 118,958,503,207.00 | As collateral for guarantee |
| Intangible assets | 1,432,721,541.00 | As collateral for guarantee |
| Construction in progress | 4,956,769,575.00 | As collateral for guarantee |
| Investment property | 119,581,462.00 | As collateral for guarantee |
| Total | 127,231,068,471.00 | -- |
VI Investments Made
1. Total Investments Made
? Applicable □ Not applicable
| Investments made in this Reporting Period (RMB) | Investments made in the same period of last year (RMB) | Change（%） |
| 238,575,152.00 | 492,972,629.00 | -51.60% |
2. Significant Equity Investments Made in the Reporting Period
□ Applicable ? Not applicable
3. Significant Non-Equity Investments Ongoing in the Reporting Period
□ Applicable ? Not applicable
4. Financial Investments
(1) Securities Investments
? Applicable □ Not applicable
Unit: RMB
| Variety of securities | Code of securities | Name of securities | Initial investment cost | Accounting measurement model | Beginning carrying value | Profit/loss on fair value changes in this Reporting Period | Cumulative fair value changes charged to equity | Purchased in this Reporting Period | Sold in this Reporting Period | Profit/loss in this Reporting Period | Ending carrying value | Accounting title | Funding source |
| Domestic/overseas stock | 600658.SH | BEZ | 90,160,428.00 | Fair value method | 61,450,387.00 | 0.00 | -44,931,843.00 | 0.00 | 0.00 | 0.00 | 45,228,585.00 | Other equity instrument investment | Self-funded |
| Domestic/overseas stock | 01963.HK | Bank of Chongqing | 120,084,375.00 | Fair value method | 90,416,707.00 | 0.00 | -4,192,506.00 | 0.00 | 0.00 | 10,272,422.00 | 115,891,869.00 | Other equity instrument investment | Self-funded |
| Domestic/overseas stock | 01518.HK | New Century Healthcare | 140,848,850.00 | Fair value method | 17,488,274.00 | 0.00 | -125,193,480.00 | 0.00 | 0.00 | 735,727.00 | 15,655,370.00 | Other equity instrument investment | Self-funded |
| Domestic/overseas stock | 002841.SZ | CVTE | 299,999,939.00 | Fair value method | 202,717,029.00 | -71,898,981.00 | 0.00 | 0.00 | 0.00 | -68,133,477.00 | 130,818,048.00 | Held-for-trading financial assets | Self-funded |
| Domestic/overseas stock | 688720.SH | ASEM | 29,999,976.00 | Fair value method | 58,484,187.00 | -15,094,995.00 | 0.00 | 0.00 | 0.00 | -14,934,453.00 | 43,389,192.00 | Held-for-trading | Self-funded |
| financial assets | |||||||||||
| Other securities investments held at the period-end | 0.00 | -- | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -- | -- |
| Total | 681,093,568.00 | -- | 430,556,584.00 | -86,993,976.00 | -174,317,829.00 | 0.00 | 0.00 | -72,059,781.00 | 350,983,064.00 | -- | -- |
(2) Investments in Derivative Financial Instruments
□ Applicable ? Not applicable
No such cases in the Reporting Period.
5. Use of Funds Raised
? Applicable □ Not applicable
(1) Overall Usage of Funds Raised
? Applicable □ Not applicable
Unit: RMB’0,000
| Year | Way of raising | Total funds raised | Net proceeds | Total funds used in the Current Period | Accumulative funds used | Total funds with usage changed | Accumulative funds with usage changed | Proportion of accumulative funds with usage changed | Total unused funds | The usage and destination of unused funds | Amount of funds raised idle for over two years |
| 2022 | Renewable corporate bonds | 200,000 | 198,888 | 0 | 200,000 | 0 | 0 | 0.00% | 0 | N/A | 0 |
| Total | -- | 200,000 | 198,888 | 0 | 200,000 | 0 | 0 | 0.00% | 0 | -- | 0 |
| Explanation of overall usage of funds raised | |||||||||||
| The Company raised RMB2,000,000,000 from the above-mentioned offering of renewable corporate bonds during 2022, and the net proceeds exclusive of issuance costs were RMB1,988,880,000, which would be used for capital increase to subsidiary and replenishing the working capital. The raised funds have been used up, conforming to the provisions of the prospectus. | |||||||||||
(2) Commitment Projects of Fund Raised
? Applicable □ Not applicable
Unit: RMB’0,000
| Committed investment project and super raise fund arrangement | Changed or not (including partial changes) | Committed investment amount | Investment amount after adjustment (1) | Investment amount in the Reporting Period | Accumulative investment amount as of the period-end (2) | Investment schedule as the period-end (3)＝(2)/(1) | Date of reaching intended use of the project | Realized income in the Reporting Period | Whether reached anticipated income | Whether occurred significant changes in project feasibility |
| Committed investment project | ||||||||||
| Capital increase to Chengdu BOE Optoelectronics Technology Co., Ltd. | Not | 100,000 | 100,000 | 0 | 100,000 | 100.00% | - | 0 | N/A | Not |
| Capital increase to Chongqing BOE Display Technology Co., Ltd. | Not | 90,000 | 90,000 | 0 | 90,000 | 100.00% | - | 0 | N/A | Not |
| Supplementing working capital | Not | 10,000 | 8,888 | 0 | 8,888 | 100.00% | - | 0 | N/A | Not |
| Subtotal of committed investment project | -- | 200,000 | 198,888 | 0 | 198,888 | -- | -- | 0 | -- | -- |
| Super raised funds arrangement | ||||||||||
| N/A | - | - | - | - | - | - | - | - | - | - |
| Total | -- | 200,000 | 198,888 | 0 | 198,888 | -- | -- | 0 | -- | -- |
| Describe project by project any failure to meet the schedule or anticipated income, as well as the reasons (including reasons for inputting “N/A” for “Whether reached anticipated income”) | All raised funds for the committed investment project (22BOEY1) have been used up. As a result, the Company's main business will be developed, and its competitiveness will be enhanced. The input of “N/A” in the “anticipated income” is because these projects do not directly generate economic benefits. | |||||||||
| Notes of condition of significant changes occurred in project feasibility | N/A | |||||||||
| Amount, usage and schedule of super raise fund | N/A | |||||||||
| Changes in implementation address of investment project | N/A | |||||||||
| Adjustment of implementation mode of investment project | N/A | |||||||||
| Applicable | ||||||||||
| Advance investments in projects financed with raised funds and swaps of such advance investments with subsequent raised funds | As at 30 June 2024, the funds raised through Phase I of renewable corporate bonds of 2022 were used to swap with advance project investments of RMB1.9 billion, of which RMB1 billion was swapped with the advance investment in Chengdu BOE Optoelectronics Technology Co., Ltd. with equity funds, and the remaining RMB0.9 billion was swapped with the advance investment in Chongqing BOE Display Technology Co., Ltd. with equity funds. |
| Idle fund supplementing the current capital temporarily | N/A |
| Amount of surplus in project implementation and the reasons | Applicable |
| As at 30 June 2024, the funds raised through the perpetual bonds have been used up, with a balance of RMB3.1 thousand in the raised funds account, which was the interest income generated during the deposit period. | |
| Usage and destination of unused funds | There is a balance of RMB3.1 thousand in the account of the funds raised through the perpetual bonds, which will be used to pay the interest for the bonds. |
| Problems incurred in fund using and disclosure or other condition | N/A |
(3) Re-purposed Raised Funds
□ Applicable ? Not applicable
No such cases in the Reporting Period.VII Sale of Major Assets and Equity Interests
1. Sale of Major Assets
□ Applicable ? Not applicable
No such cases in the Reporting Period.
2. Sale of Major Equity Interests
□ Applicable ? Not applicable
VIII Main Controlled and Joint Stock Companies? Applicable □ Not applicableMain subsidiaries and joint stock companies with an over 10% influence on the Company’s net profit
Unit: RMB
| Name | Relationship with the Company | Principal activities | Registered capital | Total assets | Net assets | Operating revenue | Operating profit | Net profit |
| Chongqing BOE Optoelectronics Technology Co., Ltd. | Subsidiary | R&D, Production, and sales of semi-conductor display device, complete machine, and relevant products; import and export business and technology consulting of goods. | 3,845,200,000 | 42,203,913,322.00 | 31,576,307,682.00 | 7,902,857,015.00 | 1,622,437,804.00 | 1,358,782,245.00 |
| Hefei Xinsheng Optoelectronics Technology Co., Ltd. | Subsidiary | Investment construction, R&D, Production, and sales of relevant products of TFT-LCD and its matching products. | 9,750,000,000 | 27,782,113,524.00 | 16,345,465,054.00 | 10,276,375,014.00 | 643,581,014.00 | 551,251,954.00 |
| Hefei BOE Optoelectronics Technology Co., Ltd. | Subsidiary | Investment construction, R&D, Production, and sales of relevant products of TFT-LCD and its matching products. | 2,700,000,000 | 16,406,967,505.00 | 10,854,825,971.00 | 2,580,562,221.00 | 530,500,936.00 | 452,899,545.00 |
Subsidiaries obtained or disposed in this Reporting Period? Applicable □ Not applicable
| Name of subsidiary | How the subsidiary was acquired or disposed of | Effects on the overall operations and performance |
| Chongqing BOE Jingyuan Technology Co., Ltd. | Incorporated with investment | No significant effects |
| BOE Video (Vietnam) Co., Ltd. | Incorporated with investment | No significant effects |
| Zhuhai BOE Jingxin Technology Co., Ltd. | Incorporated with investment | No significant effects |
| BOE HC Jingtu Technology (Zhejiang) Co., Ltd. | Incorporated with investment | No significant effects |
| Hefei BOE Ruishi Technology Co., Ltd. | Incorporated with investment | No significant effects |
| Qingdao BOE Energy Technology Co., Ltd. | Incorporated with investment | No significant effects |
| Hefei BOE Solar Technology Co., Ltd. | Incorporated with investment | No significant effects |
| Yunnan BOE Smart Technology Co., Ltd. | De-registered | No significant effects |
| BOE Education Technology Co., Ltd. | De-registered | No significant effects |
| Beijing Dongfang Hengtong Technology Development Co., Ltd. | De-registered | No significant effects |
Information about major majority- and minority-owned subsidiaries:
N/A
IX Structured Bodies Controlled by the Company
□ Applicable ? Not applicable
X Risks Facing the Company and CountermeasuresIn the first half of 2024, the global economy is slowly recovering amidst imbalances, with distinct regional economic growthdifferentiations. The industrial chain structure continues to adjust, and the global landscape is characterized by a mix of turbulence,transformation, and recovery. The semiconductor display industry has experienced fluctuating supply-demand dynamics, intense brandcompetition leading to ongoing price erosion at the end-user level, and further compression of profit margins along the industry chain.In the face of a market environment where opportunities and challenges co-exist, the Company adheres to innovation-drivendevelopment strategy, maintaining high levels of investment in research and development to strengthen its core competitive advantages.Guided by the strategy of "Empower IoT with Display", the Company is expanding globally, focusing on strategic customers bothdomestically and internationally, and deepening its presence in the IoT niche markets. Simultaneously, efforts are being made toenhance industrial resilience and steadily build a secure and healthy supply chain support system. In terms of internal management, theCompany continues to cultivate high-level lean management capabilities and consistently rallies around a firm core corporate spirit tocomprehensively address external environmental impacts.XI Implementation of the Action Plan for “Dual Enhancement of Quality and Profitability”Indicate whether the Company has disclosed its Action Plan for “Dual Enhancement of Quality and Profitability”.? Yes □ NoIn adherence to the “investor-centric” ethos of listed entities and to protect the interests of all shareholders, the Company, imbued withconfidence in its future prospects and recognizing its inherent value, released the Action Plan for “Dual Enhancement of Quality andProfitability” on 28 February 2024. This Plan, devised in line with the Company’s overarching strategic blueprint, aims to consistentlybolster its core strengths and elevate both the Company’s quality and investment worth. Here are the specific implementation measures:
1. Pursue the “Core Business Focus and Premium Growth Strategy”
BOE specializes in crafting intelligent interface products and expert services that support information exchange and human wellness,drawing from extensive know-how and exploration experience in semiconductor display and IoT sectors. It has innovatively devisedthe “Empower IoT with Display” strategy, custom-fit for its IoT development, giving birth to the “1+4+N+Ecosystem” business model.“1” refers to the semiconductor display business, where the Company solidifies its dominance and maintains a commanding lead. TheCompany's LCD shipments remained globally dominant, and a number of products have been launched for the first time worldwide.“4” highlights the high-potential IoT-focused sectors, witnessing numerous development outcomes and steady improvement inoperational quality. Meanwhile, “N” represents the array of specialized, niche market segments where the Company diligentlypenetrates and crafts distinctive “specialised, sophisticated, distinctive, and innovative” models.Moving forward, the Company will adhere to the strategy of “Empower IoT with Display”, build a diverse product portfolio, and servecustomers across the globe with better products and services. Based on the business development architecture of “1+4+N+Ecosystem”,it will remain steadfast in its principal operations, maximize resource recycling and drive high-quality business growth to increase thevalue of the industrial chain and enable excellent shareholder returns.
2. Uphold “Innovation as the Prime Mover”
The Company consistently prioritizes technology and innovation, consistently dedicating approximately 7% of its annual revenue toR&D, with 1.5% allocated specifically to fundamental and frontier tech exploration. As a result, it has emerged as a global front-runnerin semiconductor display R&D investment, establishing a firm groundwork for industry-leading innovation and technological
superiority. Moreover, the Company persistently reinforces its portfolio of high-quality patents. In the first half of the year, it filed over40,000 new patent applications, with more than 90% of the filings being invention patents. More than 30% of these patents were filedinternationally, covering the U.S., Europe, Japan, South Korea, and other territories across diverse sectors such as flexible OLED,sensing, AI, big data, etc. The Company's technological innovation prowess has been repeatedly recognized, entering the global TOP20in the IFI U.S. patent authorization ranking for six consecutive years and the global TOP10 in WIPO's global PCT patent applicationfor eight consecutive years. In 2024, it ranked 12th in the first-ever released Top 100 Global Innovators by Clarivate Analytics, furtherdemonstrating its innovation strength and technological leadership as an industry leader.Moreover, to maintain its technological edge, the Company has built a technology architecture of “Empower IoT with Display” that issuitable for the development of its IoT, including device layer, terminal layer, platform layer, and application layer. With a systematictechnological innovation capability that integrates software and hardware, provides key support for the value extension of its “device- terminal - scenario”. Furthermore, it proactively constructs three core technology pillars—semiconductor display, IoT innovation,and sensor devices—and collaborates with partners on key research to accelerate high-quality development.In the future, the Company will persistently uphold “innovation as the primary driver,” ensuring targeted resource investments in keysectors. It will further intensify collaboration among industry, academia, and research institutions to facilitate tackling core technologies,thereby steadily enhancing its own technological competitiveness and strengthening technology leadership across the industry.
3. Maintain “Ethical and Top-Quality Corporate Governance”
To enhance the Company's fundamental corporate governance system, the Company revised its Articles of Association and its annexes,the Independent Director System, the Composition and Rules of Procedure of the Risk Control and Audit Committee of the Board ofDirectors, and other seven governance systems in 2024 in accordance with the latest legal requirements and normative documents.Additionally, the Methods for the Administration of Appointment of CPA Firm was added. The Company has been continuouslydeveloping its corporate governance system, establishing a robust corporate governance framework, and enhancing operationalcompliance levels.To further implement the requirements of independent director reforms, the Company actively supports independent directors incarrying out their duties. This is achieved through activities such as conducting on-site visits to production lines, participating inperformance briefings and engaging with small and medium shareholders, communicating with the heads of internal audit agenciesduring the annual report period, and interacting with the accounting firms handling the Company's audit services. Additionally,involvement in preliminary discussions on significant projects is undertaken. These efforts aim to fully leverage the role of independentdirectors to safeguard the legitimate rights and interests of small investors.The Company will abide by the principles of “integrity, standardisation, transparency, and responsibility”, regulate itself andcontinuously improve the level of governance to robustly safeguard shareholders’ rights and interests. The management commits toboosting operational and managerial proficiency, continuously enhancing the Company’s core competitiveness, profitability, andoverall risk management capacity, aiming to reward investors and drive the Company’s high-quality growth.
4. Conduct transparent and efficient information disclosure
So far, the Company has achieved eight straight years of Grade A ratings for information disclosure by the Shenzhen Stock Exchange.Upholding strict adherence to legal and regulatory requirements, the Company abides by the “accuracy, completeness, and truthfulness”principle in disclosing information, catering to investor needs and actively fulfilling social responsibilities. Having published a socialresponsibility report (sustainability report) for 14 straight years, the Company bolsters information disclosure transparency. Movingforward, it will further enhance disclosure quality, effectively communicate corporate value, and strive to provide a sound basis forinvestors’ valuation judgments and interest protection.
5. Contribute to “Coexistence and Win-Win with Investors”
The Company persists in showing gratitude to shareholders for their long-standing support through consistent share repurchases andcash dividends. Over the period 2015-2023, it has distributed cash dividends for nine consecutive years, totaling over RMB20 billion,
maintaining an annual cash dividend payout ratio above 30% of the parent company’s net profits since 2018. This ensures investorsbenefit from the Company’s growth achievements.In the first half of 2024, the Company implemented the 2023 final dividend payout of approximately RMB1.13 billion in cash,representing 44.34% of the net profits attributable to the parent company in the consolidated financial statements.Furthermore, between 2020 and 2022, the Company conducted share repurchases for three straight years, spending over RMB4.6billion cumulatively on A-share repurchases and nearly HKD1 billion on B-share repurchases. In 2023, the Company retired around500 million repurchased shares, reducing its registered capital to heighten earnings per share.In the first half of 2024, the Company persisted in a proactive, professional, and diverse approach to investor relations management.For institutional investors, it maintains close ties with the market through institutional investor visits, securities firms’ investmentconferences, reverse roadshows for institutional investors, and 2024 BOE Investor Day, among other means. For small and medium-sized investors, the Company capitalizes on various platforms, including Shareholders’ General Meetings, online result presentations,Shenzhen Stock Exchange’s platform at irm.cninfo.com.cn, investor hotline, and IR email address, to engage actively and respond toqueries, gather feedback, and facilitate rights exercise.
Part IV Corporate Governance
I Annual and Extraordinary General Meeting Convened during the Reporting Period
1. General Meetings Convened during the Reporting Period
| Meeting | Type | Investor participation ratio | Convened date | Disclosure date | Meeting resolutions |
| The 2023 Annual General Meeting | Annual General Meeting | 29.45% | 26 April 2024 | 27 April 2024 | The following reports and proposals were deliberated and approved, i.e., Report on the Work of the Board of Directors for 2023, Report on the Work of the Supervisory Committee for 2023, Full Annual Report and Summary for 2023, Financial Final Report for 2023 and Business Plan for 2024, Proposal for the Distribution of Profits for 2023, Proposal for Investment in Structured Deposits and Other Capital Protected Instruments, Proposal on Borrowing and Credit Line, Proposal on the Appointment of an Audit Agency for 2024, Proposal on Repurchase and Deregistration of Some Restricted Shares, Proposal on Changing the Registered Capital of the Company and Amending the Articles of Association and Other Systems, Proposal on Adjusting the Allowances for Independent Directors, Proposal on Amending the Rules of Procedure of the Supervisory Committee, and Proposal on Electing Non-Independent Directors for the Tenth Board of Directors |
2. Extraordinary General Meetings Convened at the Request of Preference Shareholders with ResumedVoting Rights
□ Applicable ? Not applicable
II Change of Directors, Supervisors and Senior Management? Applicable □ Not applicable
| Name | Office title | Type of change | Date of change | Reason for change |
| Pan Jinfeng | Director | Resignation | 23 January 2024 | Voluntary resignation |
| Liu Xiaodong | Director | Resignation | 12 March 2024 | Voluntary resignation |
| Sun Yun | Director | Resignation | 12 March 2024 | Voluntary resignation |
| Feng Qiang | Director | Elected | 26 April 2024 | Elected |
| Zhu Baocheng | Director | Elected | 26 April 2024 | Elected |
| Wang Xiping | Director | Elected | 26 April 2024 | Elected |
| Sun Fuqing | Supervisor | Resignation | 12 June 2024 | Voluntary resignation |
| Zhu Baocheng | Director | Resignation | 8 July 2024 | Voluntary resignation |
| Song Ligong | Supervisor | Elected | 24 July 2024 | Elected |
| Liu Xiaodong | Senior management | Dismissed | 24 July 2024 | Job change |
| Liu Zhiqiang | Senior management | Appointed | 24 July 2024 | Appointed |
III Interim Dividend Plan
□ Applicable ? Not applicable
The Company has no interim dividend plan, either in the form of cash or stock.
IV Equity Incentive Plans, Employee Stock Ownership Plans or Other Incentive Measures forEmployees? Applicable □ Not applicable
1. Equity Incentives
The Company held the 15th Meeting of the 9th Board of Directors and the 2nd Extraordinary General Meeting of 2020 on 27 August2020 and 17 November 2020 respectively and deliberated and approved the 2020 Stock Option and Restricted Stock Grant Program,in which the Company intends to implement the Equity Incentive Scheme, including both the Stock Option Incentive Scheme and theRestricted Stock Incentive Scheme. Following the approval of the Proposal on the First Grant of Stock Options and Restricted Sharesto Incentive Objects at the 20th Meeting of the 9th Board of Directors and the 8th Meeting of the 9th Supervisory Committee, theCompany disclosed the Announcement on Completion of Registration of the First Grant of the 2020 Stock Option and Restricted StockIncentive Scheme (Announcement No. 2020-086) on 30 December 2020. Following the approval of the Proposal on the Awarding ofReserved Stock Options to Incentive Objects at the 31st Meeting of the 9th Board of Directors and the 13th Meeting of the 9thSupervisory Committee, the Company disclosed the Announcement on Completion of Registration of the Reserved and Granted StockOption of the 2020 Stock Option and Restricted Stock Incentive Scheme (Announcement No.: 2021-084) on 23 October 2021.The Company disclosed the Announcement on the Achievement of Lifting the Restriction Conditions in the Second Lifting RestrictionPeriod for Restricted Stocks Granted by the 2020 Stock Option and Restricted Stock Incentive Scheme and on the Satisfaction of theExercise Conditions of the First Exercise Schedule of the Second Granted Stock Option (Announcement No.: 2024-015) on 2 April2024. The lifting of the restriction conditions in the second lifting restriction period for restricted stocks granted by the 2020 StockOption and Restricted Stock Incentive Scheme of the Company has been achieved, and the first exercise schedule of the second grantedstock option has satisfied the exercise conditions. A total of 716 awardees met the conditions for the lifting of the restrictions, resultingin a total of 95,859,475 shares of restricted stock that could be lifted. A total of 1,718 awardees were eligible for stock option exercise,resulting in a total of 168,428,195 shares of stock options available for exercise. The Company disclosed the Announcement on theRepurchase and Write-off of Certain Restricted Stocks (Announcement No.: 2024-016) and the Announcement on the Write-off ofCertain Stock Options (Announcement No.: 2024-017) on 2 April 2024, in which the Company intends to repurchase and cancel2,547,779 restricted shares and 186,818,174 shares of stock option that have been granted to incentive objects but have not beenexercised by them since some incentive objects resigned, died, retired, and failed to meet the performance appraisal goals for personalreasons. Moreover, the above-mentioned matters regarding the repurchase and cancelation of restricted stocks were deliberated andapproved in the Annual General Meeting of Shareholders of 2023 held on 26 April 2024. The Company disclosed the ReminderAnnouncement on Release and Circulation of Restricted Shares Granted under the 2020 Stock Option and Restricted Stock IncentiveScheme in the Second Release Period (Announcement No.: 2024-021) on 10 April 2024. The total number of incentive targets whomeet the conditions for releasing the restricted shares is 716, and the number of restricted shares that can be released is 95,859,475
shares, accounting for 0.2546% of the total share capital of the Company at present. The listing date for the lifted restricted stocks is11 April 2024. The Company disclosed the Announcement on Adjustment of the Exercise Price of the Stock Option and the RestrictedShare Repurchase Price in the 2020 Stock Option and Restricted Stock Incentive Scheme of the Company (Announcement No.: 2024-047) on 28 August 2024. Since the equity distribution of the Company for 2023 has been completed, the restricted stock repurchaseprice involved in this incentive scheme is adjusted from RMB2.349/share to RMB2.319/share, the exercise price of the first grant ofthe stock option is adjusted from RMB5.059/share to RMB5.029/share, and the exercise price of the reserved and granted stock optionis adjusted from RMB5.559/share to RMB5.529/share. The Company disclosed the Announcement on the Achievement of theExercise Conditions for the Second Exercise Period of the Stock Options Reserved for Grant under the 2020 Stock Option andRestricted Stock Incentive Plan (Announcement No. 2024-048) on 28 August 2024, and the conditions for the exercise of the secondexercise period of the stock options reserved for grant under the 2020 Stock Option and Restricted Stock Incentive Plan of the Companywere met, and a total of 83 incentive recipients who met the conditions for the exercise of options were eligible to exercise the optionsthis time. The total number of incentive recipients meeting the conditions for the exercise of options is 83, and the number of stockoptions exercisable is 8,116,020.
2. Implementation of Employee Stock Ownership Plans
□ Applicable ? Not applicable
3. Other Incentive Measures for Employees
□ Applicable ? Not applicable
Part V Environmental and Social ResponsibilityI Major Environmental Issues
Indicate by tick mark whether the Company or any of its subsidiaries is a heavily polluting business identified by the environmentalprotection authorities of China.?Yes □ NoPolicies and industry standards pertaining to environmental protectionWith the establishment of an integrated environment management system based on ISO 14001, the Company strictly complies withthe laws and regulations such as the Environmental Protection Law of the People's Republic of China, Water Pollution Prevention andControl Law, Air Pollution Prevention and Control Law and Law on the Prevention and Control of Environmental Pollution by SolidWaste. The green environment management system was built in combination with the requirements of a series of management systems,such as ISO 9001, QC 080000, ISO 14001 and ISO 50001.Environmental protection administrative licenseCorresponding environmental impact assessments have been conducted for all construction projects under the control of the Companyin conformity with applicable national and local laws and regulations, and corresponding administrative licenses have also beenobtained.The regulations for industrial emissions and the particular requirements for controlling pollutant emissionsthose are associated with production and operational activities.
| Name of polluter | Type of major pollutants | Name of major pollutants | Way of discharge | Number of discharge outlets | Distribution of discharge outlets | Discharge concentration/intensity | Discharge standards implemented | Total discharge | Approved total discharge | Excessive discharge |
| Beijing BOE Optoelectronics Technology Co., Ltd. | Waste water pollutant | COD | Standard emission after being treated by sewage treatment system | 1 | Northwest corner of factory | 37.20mg/L | 500 mg/L | 44.357t | 828.42t | None |
| Ammonia nitrogen | 1.76 mg/L | 45 mg/L | 2.318t | 59.17t | ||||||
| The 4.5th generation TFT-LCD production line of Chengdu BOE Optoelectronics Technology Co., Ltd. | Waste water pollutant | COD | Standard emission after being treated by sewage treatment system | 1 | North side of factory | 149.32mg/l | 500mg/l | 69.68t | 564.14t | None |
| Ammonia nitrogen | 8.86mg/l | 45mg/L | 3.73t | 50.77t | ||||||
| Hefei BOE Optoelectronics Technology Co., Ltd. | Waste water pollutant | COD | Standard emission after being treated by sewage treatment | 1 | Northwest corner of factory | 26.91mg/L | 380mg/L | 40.93t | 1081.55t | None |
| Ammonia nitrogen | 0.51mg/L | 30mg/L | 0.78t | 101.23t |
| system | ||||||||||
| Beijing BOE Display Technology Co., Ltd. | Waste water pollutant | COD | Standard emission after being treated by sewage treatment system | 1 (main waste water outlet) | East gate of factory | 97.4mg/L | 500mg/l | 227.53t | 1570.32t | None |
| Ammonia nitrogen | 13.93mg/L | 45mg/l | 30.54t | 183.20t | ||||||
| COD | 1(S2 domestic sewage outlet II) | South gate of dormitory area | 79.82mg/L | 500mg/l | 7.72t | 80.76t | ||||
| Ammonia nitrogen | 29.77mg/L | 45mg/l | 2.92t | 6.06t | ||||||
| Hefei Xinsheng Optoelectronics Technology Co., Ltd. | Waste water pollutant | COD | Standard emission after being treated by sewage treatment system | 1 | Northeast gate of factory | 111.34mg/L | 350mg/L | 299.08t | 3135.04t | None |
| Ammonia nitrogen | 14.00mg/L | 35mg/L | 37.27t | 313.50t | ||||||
| Erdos Yuansheng Optoelectronics Co., Ltd. | Waste water pollutant | COD | Standard emission after being treated by sewage treatment system | 1 | North side of factory | 20.54mg/L | 500mg/L | 12.58t | 713.81t | None |
| Ammonia nitrogen | 0.89mg/L | 45mg/L | 0.55t | 76.82t | ||||||
| The 6th generation flexible AMOLED production line of Chengdu BOE Optoelectronics Technology Co., Ltd. | Waste water pollutant | COD | Standard emission after being treated by sewage treatment system | 1 | North side of factory | 23.00mg/L | 500mg/L | 52.48t | 6383.16t | None |
| Ammonia nitrogen | 9.52mg/L | 45mg/L | 17.20t | 574.48t | ||||||
| Chongqing BOE Optoelectronics Technology Co., Ltd. | Waste water pollutant | COD | Standard emission after being treated by sewage treatment system | 1 | South side of factory | 49.53 mg/L | 400mg/L | 98.54t | 1900.24t | None |
| Ammonia nitrogen | 4.56mg/L | 30mg/L | 10.66t | 146.17t | ||||||
| Hefei BOE Display Technology Co., Ltd. | Waste water pollutant | COD | Standard emission after being treated by sewage treatment system | 1 | North side of factory | 78mg/L | 350mg/L | 362.98t | 4759.56t | None |
| Ammonia nitrogen | 15.1mg/L | 35mg/L | 71.71t | 416.46t | ||||||
| Fuzhou BOE Optoelectronics Technology Co., Ltd. | Waste water pollutant | COD | Standard emission after being treated by | 1 | Northeast area of factory | 13.47mg/l | 500mg/L | 32.41t | 297.50t | None |
| Ammonia nitrogen | 0.51mg/l | 45mg/L | 1.24t | 29.75t |
| sewage treatment system | ||||||||||
| Mianyang BOE Optoelectronics Technology Co., Ltd. | Waste water pollutant | COD | Standard emission after being treated by sewage treatment system | 1 | North side of factory | 39.55mg/l | 500mg/L | 41.12t | 4326.12t | None |
| Ammonia nitrogen | 2.75mg/l | 45mg/L | 2.03t | 262.00t | ||||||
| Chongqing BOE Display Technology Co., Ltd. | Waste water pollutant | COD | Standard emission after being treated by sewage treatment system | 1 | North side of factory | 36.722mg/L | 400mg/L | 50.418t | 4171.2t | None |
| Ammonia nitrogen | 3.035mg/L | 35mg/L | 4.033t | 398.4t | ||||||
| Wuhan BOE Optoelectronics Technology Co., Ltd. | Waste water pollutant | COD | Standard emission after being treated by sewage treatment system | 1 | Northeast corner of factory | 19.087mg/L | 500mg/L | 100.30t | 488.6t | None |
| Ammonia nitrogen | 0.061mg/L | 45mg/L | 0.32t | 24.45t | ||||||
| Nanjing BOE Display Technology Co., Ltd. | Waste water pollutant | COD | Standard emission after being treated by sewage treatment system | 1 | South side of factory | 59.96mg/L | 500mg/L | 118.79t | 1903.99t | None |
| Ammonia nitrogen | 3.85mg/L | 45mg/L | 7.94t | 171.37t | ||||||
| Chengdu BOE Display Sci-tech Co., Ltd. | Waste water pollutant | COD | Standard emission after being treated by sewage treatment system | 1 | Northeast corner of factory | 234.12mg/L | 500mg/L | 809.99t | 4310.1t | None |
| Ammonia nitrogen | 7.34mg/L | 45mg/L | 25.39t | 148.8t | ||||||
| Yunnan Chuangshijie Optoelectronics Technology Co., Ltd. | Waste water pollutant | COD | Standard emission after being treated by sewage treatment system | 1 | Northwest corner of factory | 229mg/L | 500mg/L | 6.213t | Industrial and domestic sewage, upon treatment, is discharged to the industrial sewage plant of Linkong Industrial Park in Dianzhong New Zone, Kunming, Yunnan | None |
| Ammonia nitrogen | 5.8mg/L | 45mg/L | 0.16t |
Provinceandincludedin the totaldischargeof thesewageplant.
Treatment of pollutantsThe waste water which is generated by each subordinate subsidiary of the Company can be divided in to industrial waste water andhousehold waste water. Rain water-waste water shunting system is adopted for drainage system to drain water separately according todifferent natures. After collecting, the rain water is discharged into rain water pipeline of factory; after the rain water is collected byrain water pipe network, the rain water is discharged. After being treated by sewage treatment system in factory, industrial waste wateris discharged into sewage treatment factory through municipal pipe network for intense treatment. Household waste water compriseshousehold fecal waste water and canteen oily waste water etc, after pretreatment, the waste water is discharged into municipal sewagetreatment factory. All industrial and household waste water is not discharged directly, and the concentration and total amount ofdrainage satisfy the requirements of national and local relevant standards.The exhaust gas which is emitted by each subordinate subsidiary mainly comes from technology exhaust gas during production process,generally including acid exhaust gas, alkaline exhaust gas, special exhaust gas and organic exhaust gas etc. Various exhaust gas can beemitted after being treated by independent emission treatment system. The emission concentration and total amount satisfy the nationaland local relevant standards.The waste materials which are generated by each subordinate subsidiary can be divided into general industrial solid waste, hazardouswaste materials and household waste materials, and they all handed over to qualified recycler for regular treatment. The disposal rateof hazardous waste materials is 100%.Contingency Plan for Emergent Environmental IncidentsEvery subsidiary of the Company has formulated, updated and filed corresponding contingency plan for emergent environmentalincidents in local environmental protection departments according to their requirements. However, such contingency plan consists ofcomprehensive plan, special plan and on-site disposal plan, and involves various aspects such as waste water, exhaust gas, hazardouswastes and dangerous chemicals etc. Meanwhile, drills must be conducted regularly.Input in environment governance and protection and payment of environmental protection taxThe Company unremittingly advocates and practices the idea of sustainable environmental development. By continuously increasinginvestment in environmental governance and protection, and improving the production and operation processes regardingenvironmental impacts, the Company effectively minimized the impact of operation on the environment. Subsidiaries of the Companythat emit taxable pollutants to the environment shall strictly comply with the requirements of the Environmental Protection Tax Lawof the People's Republic of China and the local government and pay the environmental protection taxes.Self-monitoring PlanCurrently, major pollutant-discharging units subordinated to the Company have worked out corresponding self-monitoring planaccording to relevant requirements put forward by the local environmental protection agency. The self-monitoring plans respectivelyformulated by Beijing BOE Display Technology Co., Ltd. and Beijing BOE Optoelectronics Technology Co., Ltd. have been publishedvia Beijing Environmental Information Disclosure Platform for Enterprises and Institutions and the Company’s official website.Administrative penalties imposed for environmental issues during the Reporting Period
| Name | Reason | Case | Result | Influence on production and operation | Rectification measures |
| N/A | N/A | N/A | N/A | N/A | N/A |
Other environment information that should be disclosedNo
Measures taken to decrease carbon emission in the Reporting Period and corresponding effects? Applicable □ Not applicableThanks to the tireless efforts for solidifying the foundation over the past two years, BOE has continuously improved the carbon emissionmanagement system. The Company has entered the second phase of the double carbon strategy, which involves implementing measuresto peak carbon emissions and developing a path towards carbon neutrality. Based on industrial layout, future development plans, anda systematic analysis of its own greenhouse gas emission characteristics, we have established double carbon goals using a scientificdecision-making mechanism, committing to achieving carbon neutrality in our operations by 2050. To ensure the smoothimplementation of this long-term goal, we are integrating green development into various dimensions of the Company includingoperations, production management, and supply chain management. We are consistently pushing for industrial green transformation,aiming to build an environmentally friendly, resource-saving, and sustainable development system.At the operational level, we have completed the establishment of a carbon emission management system, set up a carbon inventorymechanism, conduct regular carbon inventories annually to assess our carbon emissions, establish a carbon emission database, andprovide support for predicting trends in carbon emissions. Meanwhile, we are piloting internal carbon emission managementperformance assessments to strengthen the responsibility mechanism for advancing the double carbon strategy. We are also driving thedevelopment, construction, and deployment of a carbon footprint management platform for device products. Additionally, we arefacilitating the participation of three pilot factories in the Science-Based Targets initiative (SBTi), committing to scientifically setcarbon reduction goals aiming to limit the global average temperature rise to below 1.5°C compared to pre-industrial levels.In terms of developing low-carbon products, we are advancing the design and development of low-power consumption for pilotproducts, including the research and development of products like electronic price tags. In terms of product carbon footprintcertification, we are exploring methods for calculating product carbon footprints, completing the certification for pilot product carbonfootprints, and progressing towards PAS2060 certification for pilot products.In terms of green recycling, we follow the 4R principles (Recycle, Reduce, Renew, Responsibly) to promote the recycling of energyand resources, waste utilization, increase comprehensive utilization rates of bulk solid waste, raise the proportion of household wasterecycling, and drive three factories to achieve UL2799 (Zero Waste to Landfill).In terms of green manufacturing, we are continually promoting the declaration of green factories, pushing for energy conservation andemission reduction on the power side, implementing technological improvements on the process side, increasing the proportion ofrenewable energy applications, and promoting a clean and low-carbon energy structure to reduce greenhouse gas emissions from thesource.Meanwhile, in order to cope with the challenges and opportunities brought by carbon trading, subsidiaries in Beijing actively conductedcarbon emission trading and accumulated carbon trading experience to assist the Company in achieving its goals of carbon emissionpeak and carbon neutrality.Other related environment protection informationThe Company fully considers design for recycling, universal design and minimal design of products in the product design stage, adheresto the green management concept of the full life cycle of products, and follows the principles of minimizing energy and resourceconsumption, minimizing the impact on the ecological environment and maximizing the recyclability.In order to reduce the impact of the logistics transportation process on the environment, the Company and its partners constantlyimprove the transportation management system, carry out reasonable layout and planning of transportation stations and routes, improvethe delivery efficiency, and reduce greenhouse gas emissions.
II Social ResponsibilityBOE has always adhered to the sustainable development concept of Green+, Innovation+, and Community+, collaborating with globalpartners to construct an industrial value innovation ecosystem that is "Powered by BOE".Leveraging its industrial advantages, BOE uses green technology to drive symbiotic development and actively supports public welfarethrough practical actions, fulfilling its commitment to sustainable social development. In the first half of 2024, BOE's subsidiaries,Hefei BOE Optoelectronics Technology Co., Ltd., Hefei Xinsheng Optoelectronics Technology Co., Ltd., and Fuzhou BOEOptoelectronics Technology Co., Ltd., successfully obtained UL 2799 (Zero Waste to Landfill). With these certifications, six factoriesunder BOE have achieved UL 2799 Platinum-level certification, marking a significant step forward in green resource recyclingmanagement. BOE consistently focuses on the development of education in remote areas, upgrading the "Lighting the Way to Growth"education charity project in collaboration with multiple partners. The Company is exploring a new path of "Technology + Education",continuously building smart classrooms, partnering with the Palace Museum to launch the “100 Traditional Culture Public WelfareLessons in the Palace” scheme, and innovatively creating "Smart Spaces" for educational activities. As of June 2024, the "100Traditional Culture Public Welfare Lessons in the Palace" have conducted over 400 classes in schools supported by BOE's "Lightingthe Way to Growth" project, reaching over 20,000 individuals. Simultaneously, the "Smart Spaces" educational activities have ledstudents and teachers from surrounding schools to visit BOE's technology exhibition halls and participate in science popularizationsalons, emphasizing the importance of intellectual property rights and technological innovation capabilities while reinforcing theconfidence and mission of the new generation in building a modern, strong nation.Furthermore, BOE continues to implement the national rural revitalization strategy, developing this year's rural revitalization plan. Interms of assistance in income generation, BOE is deepening its employment and industry support in Inner Mongolia, not only absorbinggraduates from special families in supported areas to enhance local employment rates and promote balanced regional development, butalso advancing local industries towards the high end of the value chain, stabilizing photovoltaic projects, achieving complementaritybetween animal husbandry and solar power, and empowering rapid economic development in the region. Additionally, in HebeiProvince, public welfare support is being provided, with the construction of four reading corners for students. In comprehensive support,BOE is actively engaging in assistance activities in Dazhuangke Township, further consolidating the achievements of ruralrevitalization, and contributing to high-quality development and improvement of people's livelihood in the region.In the future, under the strategy of "Empower IoT with Display", BOE will actively build the industrial value innovation ecosystemthat is "Powered by BOE", with "Technology + Green" as the cornerstone of development. The Company will deeply integrate displaytechnology with IoT technology and digital technology, making display technology more realistic, high-end, intelligent, and green. Atthe same time, BOE will shoulder high social responsibilities, closely integrating corporate development with national and socialprogress, contributing to high-quality economic and social development.
Part VI Significant Events
1. Commitments of the Company’s Actual Controller, Shareholders, Related Parties andAcquirers, as well as the Company Itself and other Entities Fulfilled in the Reporting Period orOngoing at the Period-end
? Applicable □ Not applicable
| Commitment | Promisor | Type of commitment | Details of commitment | Date of commitment making | Term of commitment | Fulfillment |
| Other commitments made to minority interests | The Chairman of the Board: Mr. Chen Yanshun Director: Mr. Gao Wenbao Supervisor: Mr. Xu Yangping, Mr. Yan Jun and Mr. Teng Jiao Senior Management: Ms. Sun Yun, Ms. Feng Liqiong and Mr. Liu Hongfeng Former Director: Mr. Liu Xiaodong Former Senior Management: Mr. Miao Chuanbin and Mr. Xie Zhongdong | Other commitments | In accordance with the Announcement on the Commitments of not Reducing the Shareholding by Some Directors, Supervisors and Senior Management (No.: 2020-001) disclosed by the Company on 22 February 2020, some of the Company’s directors, supervisors and senior managers, based on their confidence in the Company’s future development and their recognition of the corporate value, promise not to reduce or transfer any shares held in BOE (A shares), not to entrust others to manage specific shares, not to authorize others to execute their voting right by means of any agreement, trust or other arrangements and not to require the Company to repurchase any specific shares during the terms of office and within 6 months after their tenures expire so as to promote the Company’s continuous, stable and healthy development and maintain the rights and interests of the Company and all shareholders. For any newly-added shares derived from the assignment of rights and 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. | 21 February 2020 | During the term as director, supervisor or senior manager, and in six months after the expiration of the term (the term determined when taking office). | Ongoing |
| Executed on time or not | Yes | |||||
| Specific reasons for failing to fulfill commitments on time and plans for next step (if any) | N/A | |||||
II Occupation of the Company’s Capital by the Controlling Shareholder or any of Its RelatedParties for Non-Operating Purposes
□ Applicable ? Not applicable
No such cases in the Reporting Period.
III Irregularities in the Provision of Guarantees
□ Applicable ? Not applicable
No such cases in the Reporting Period.IV Engagement and Disengagement of Independent AuditorAre the interim financial statements audited?
□ Yes ? No
The interim financial statements have not been audited.
V Explanations Given by the Board of Directors and the Supervisory Committee Regarding theIndependent Auditor's “Modified Opinion” on the Financial Statements of the ReportingPeriod
□ Applicable ? Not applicable
VI Explanations Given by the Board of Directors Regarding the Independent Auditor's“Modified Opinion” on the Financial Statements of Last Year
□ Applicable ? Not applicable
VII Insolvency and Reorganization
□ Applicable ? Not applicable
No such cases in the Reporting Period.VIII Legal MattersSignificant lawsuits and arbitrations:
□ Applicable ? Not applicable
No such cases in the Reporting Period.Other legal matters:
? Applicable □ Not applicable
| General information | Involved amount (RMB’0,000) | Provision | Progress | Decisions and effects | Execution of decisions | Disclosure date | Index to disclosed information |
| Total unclosed cases | 72,182.1 | No | N/A | N/A | N/A | N/A | N/A |
IX Punishments and Rectifications
□ Applicable ? Not applicable
No such cases in the Reporting Period.X Credit Quality of the Company as well as its Controlling Shareholder and De FactoController
□ Applicable ? Not applicable
XI Major Related-Party Transactions
1. Continuing Related-Party Transactions
□ Applicable ? Not applicable
No such cases in the Reporting Period.
2. Related-Party Transactions Regarding Purchase or Sales of Assets or Equity Interests
□ Applicable ? Not applicable
No such cases in the Reporting Period.
3. Related Transactions Regarding Joint Investments in Third Parties
□ Applicable ? Not applicable
No such cases in the Reporting Period.
4. Amounts Due to and from Related Parties
□ Applicable ? Not applicable
No such cases in the Reporting Period.
5. Transactions with Related Finance Companies
□ Applicable ? Not applicable
The Company did not make deposits in, receive loans or credit from and was not involved in any other finance business with anyrelated finance company or any other related parties.
6. Transactions with Related Parties by Finance Companies Controlled by the Company
□ Applicable ? Not applicable
The finance company controlled by the Company did not make deposits, receive loans or credit from and was not involved in any otherfinance business with any related parties.
7. Other Major Related-Party Transactions
? Applicable □ Not applicableNoneIndex to the public announcements about the said related-party transactions disclosed
| Title of public announcement | Disclosure date | Disclosure website |
| Announcement on Estimated Continuing Related-party Transactions for 2024 | 2 April 2024 | www.cninfo.com.cn |
XII Major Contracts and Execution thereof
1. Entrustment, Contracting and Leases
(1) Entrustment
□ Applicable ? Not applicable
No such cases in the Reporting Period.
(2) Contracting
□ Applicable ? Not applicable
No such cases in the Reporting Period.
(3) Leases
□ Applicable ? Not applicable
No such cases in the Reporting Period.
2. Major Guarantees
? Applicable □ Not applicable
Unit: RMB'0,000
| Guarantees provided by the Company as the parent and its subsidiaries for external parties (exclusive of those for subsidiaries) | ||||||||||
| Obligor | Disclosure date of the guarantee line announcement | Line of guarantee | Actual occurrence date | Actual guarantee amount | Type of guarantee | Collateral (if any) | Counter guarantee (if any) | Term of guarantee | Having expired or not | Guarantee for a related party or not |
| N/A | ||||||||||
| Guarantees provided by the Company as the parent for its subsidiaries | ||||||||||
| Obligor | Disclosure date of the guarantee line announcement | Line of guarantee | Actual occurrence date | Actual guarantee amount | Type of guarantee | Collateral (if any) | Counter guarantee (if any) | Term of guarantee | Having expired or not | Guarantee for a related party or not |
| Ordos YuanSheng Optoelectronics Co., Ltd. | 30 November 2016 | 553,339 | 15 March 2017 | 33,182 | Joint-liability | N/A | N/A | 2017-3-17 to 2027-3-17 | Not | Not |
| Chengdu BOE Optoelectronics Technology Co., Ltd. | 24 April 2017 | 2,291,398 | 30 August 2017 | 1,168,887 | Joint-liability | N/A | N/A | 2017-9-6 to 2029-9-5 | Not | Not |
| Hefei BOE Display Technology Co., Ltd. | 30 November 2016 | 1,718,630 | 30 August 2017 | 129,912 | Joint-liability | N/A | The secured party provides a counter guarantee for the guarantor | 2017-9-7 to 2027-9-29 | Not | Not |
| Fuzhou BOE Optoelectronics Technology Co., Ltd. | 9 December 2015 | 1,363,702 | 8 November 2016 | - | Joint-liability | N/A | N/A | - | Yes | Not |
| Mianyang BOE Optoelectronics Co., Ltd. | 18 May 2018 | 2,127,210 | 18 September 2018 | 1,296,663 | Joint-liability | N/A | The secured party provides a counter guarantee for the guarantor | 2018-9-26 to 2031-9-26 | Not | Not |
| Chongqing BOE Display Technology Co., Ltd. | 27 April 2020 | 2,074,065 | 29 December 2020 | 1,583,970 | Joint-liability | N/A | The secured party provides a counter guarantee for the guarantor | 2020-12-31 to 2033-12-31 | Not | Not |
| Wuhan BOE Optoelectronics Technology Co., Ltd. | 25 March 2019 | 2,051,203 | 16 August 2019 | 1,111,919 | Joint-liability | N/A | The secured party provides a counter guarantee for the guarantor | 2019-8-23 to 2032-8-23 | Not | Not |
| Nanjing BOE Display Technology Co., Ltd. | 23 September 2020 | 180,000 | 12 May 2021 | - | Joint-liability | N/A | The secured party provides a counter guarantee for the guarantor | - | Yes | Not |
| Nanjing BOE Display Technology Co., Ltd. | 23 September 2020 | 120,000 | 12 May 2021 | - | Joint-liability | N/A | The secured party provides a counter guarantee for the guarantor | - | Yes | Not |
| Chengdu BOE Hospital Co., Ltd. | 27 April 2020 | 240,000 | 15 June 2020 | 162,188 | Joint-liability | N/A | The secured party | 2020-6-15 to 2042-6-30 | Not | Not |
| provides a counter guarantee for the guarantor | ||||||||||
| Total approved line for such guarantees in the Reporting Period (B1) | 0 | Total actual amount of such guarantees in the Reporting Period (B2) | 217,538 | |||||||
| Total approved line for such guarantees at the end of the Reporting Period (B3) | 11,055,845 | Total actual balance of such guarantees at the end of the Reporting Period (B4) | 5,486,721 | |||||||
| Guarantees provided between subsidiaries | ||||||||||
| Obligor | Disclosure date of the guarantee line announcement | Line of guarantee | Actual occurrence date | Actual guarantee amount | Type of guarantee | Collateral (if any) | Counter guarantee (if any) | Term of guarantee | Having expired or not | Guarantee for a related party or not |
| Yaoguang New Energy (Shouguang) Co., Ltd. | N/A | 2,462 | 30 September 2020 | 2,053 | Joint-liability | N/A | N/A | 2020-9-30 to 2034-9-30 | Not | Not |
| Suzhou Industrial Park Taijing Photovoltaic Co., Ltd. | N/A | 1,915 | 30 September 2020 | 1,597 | Joint-liability | N/A | N/A | 2020-9-30 to 2034-9-30 | Not | Not |
| Qingmei Solar Energy Technology (Lishui) Co., Ltd. | N/A | 2,257 | 30 September 2020 | 1,673 | Joint-liability | N/A | N/A | 2020-9-30 to 2034-9-30 | Not | Not |
| Qinghong Solar Energy Technology (Jinhua) Co., Ltd. | N/A | 1,163 | 30 September 2020 | - | Joint-liability | N/A | N/A | - | Yes | Not |
| Qinghao Solar Energy Technology (Jinhua) Co., Ltd. | N/A | 609 | 18 December 2017 | 260 | Joint-liability, pledge | Equity interests | N/A | 2017-12-18 to 2032-12-18 | Not | Not |
| Xiangqing Solar Energy Technology (Dongyang) Co., Ltd | N/A | 2,377 | 18 December 2017 | 861 | Joint-liability, pledge | Equity interests | N/A | 2017-12-18 to 2032-12-18 | Not | Not |
| Qingyue Solar Energy Technology (Wuyi) Co., Ltd | N/A | 657 | 18 December 2017 | 238 | Joint-liability, pledge | Equity interests | N/A | 2017-12-18 to 2032-12-18 | Not | Not |
| Qingyou Solar Energy Technology (Longyou) Co., Ltd | N/A | 1,512 | 18 December 2017 | 652 | Joint-liability, pledge | Equity interests | N/A | 2017-12-18 to 2032-12-18 | Not | Not |
| Qingfan Solar Energy Technology (Quzhou) Co., Ltd | N/A | 1,269 | 18 December 2017 | 459 | Joint-liability, pledge | Equity interests | N/A | 2017-12-18 to 2032-12-18 | Not | Not |
| Guoji Energy (Ningbo) Co., Ltd. | N/A | 1,231 | 3 December 2020 | 939 | Joint-liability | N/A | N/A | 2020-12-3 to 2034-12-3 | Not | Not |
| Hongyang Solar Energy Power Generation (Anji) Co., Ltd. | N/A | 1,710 | 3 December 2020 | 1,304 | Joint-liability | N/A | N/A | 2020-12-3 to 2034-12-3 | Not | Not |
| Ke’en Solar Energy Power Generation (Pingyang) Co., Ltd. | N/A | 1,094 | 3 December 2020 | 834 | Joint-liability | N/A | N/A | 2020-12-3 to 2034-12-3 | Not | Not |
| Dongze Photovoltaic Power Generation (Wenzhou) Co., Ltd. | N/A | 958 | 3 December 2020 | 730 | Joint-liability | N/A | N/A | 2020-12-3 to 2034-12-3 | Not | Not |
| Aifeisheng Investment and Management (Wenzhou) Co, Ltd. | N/A | 479 | 3 December 2020 | 365 | Joint-liability | N/A | N/A | 2020-12-3 to 2034-12-3 | Not | Not |
| BOE Energy Technology Co., Ltd. | N/A | 8,755 | 23 October 2017 | 5,996 | Pledge | Charging right | N/A | 2017-10-24 to 2032-10-23 | Not | Not |
| BOE Energy Technology Co., Ltd. | N/A | 14,063 | 15 August 2018 | 5,212 | Pledge | Charging right | N/A | 2018-9-26 to 2032-12-21 | Not | Not |
| BOE Energy Technology Co., Ltd. | N/A | 17,386 | 28 November 2017 | 12,452 | Pledge | Charging right | N/A | 2017-12-1 to 2032-12-1 | Not | Not |
| Hefei BOE Hospital Co., Ltd. | 27 April 2018 | 130,000 | 27 April 2018 | 110,480 | Joint-liability | N/A | N/A | 2018-4-27 to 2036-4-27 | Not | Not |
| Beijing BOE Life Technology Co., Ltd. | N/A | 60,000 | 29 December 2021 | 27,000 | Joint-liability | N/A | The secured party provides a counter guarantee for the guarantor | 2021-12-29 to 2039-12-28 | Not | Not |
| BOE Vision-Electronic Technology Co., Ltd | 30 March 2022 | 213,804 | 23 March 2023 | 5,470 | Joint-liability | N/A | The secured party provides a counter guarantee for the guarantor | 2023-3-23 to the time when all orders under the Purchase and Sales Agreement have been completed | Not | Not |
| BOE HC SemiTek (Suzhou) Co., Ltd. | 27 January 2022 | 46,020 | 17 February 2022 | 2,209 | Joint-liability | N/A | N/A | 2022-2-18 -2028-2-17 | Not | Not |
| BOE HC SemiTek (Suzhou) Co., Ltd. | 26 January 2021 | 23,010 | 3 August 2021 | 2,278 | Joint-liability | N/A | N/A | 2023-8-22 -2027-8-21 | Not | Not |
| BOE HC SemiTek (Suzhou) Co., Ltd. | 30 September 2021 | 34,515 | 15 November 2021 | 5,625 | Joint-liability | N/A | N/A | 2021-11-17 -2029-9-25 | Not | Not |
| BOE HC SemiTek (Suzhou) Co., Ltd. | 27 January 2022 | 46,020 | 10 May 2022 | 1,151 | Joint-liability | N/A | N/A | 2024-3-15 -2028-3-15 | Not | Not |
| BOE HC SemiTek (Suzhou) Co., Ltd. | 21 January 2023 | 46,020 | 17 February 2023 | - | Joint-liability | N/A | N/A | - | Yes | Not |
| BOE HC SemiTek (Suzhou) Co., Ltd. | 21 January 2023 | 46,020 | 17 March 2023 | - | Joint-liability | N/A | N/A | - | Yes | Not |
| BOE HC SemiTek (Suzhou) Co., Ltd. | 21 January 2023 | 46,020 | 25 April 2023 | - | Joint-liability | N/A | N/A | - | Yes | Not |
| BOE HC SemiTek (Suzhou) Co., Ltd. | 21 January 2023 | 46,020 | 12 May 2023 | - | Joint-liability | N/A | N/A | - | Yes | Not |
| BOE HC SemiTek (Suzhou) Co., Ltd. | 26 January 2021 | 23,010 | 15 March 2021 | - | Joint-liability | N/A | N/A | - | Yes | Not |
| BOE HC SemiTek (Suzhou) Co., Ltd. | 21 January 2023 | 46,020 | 3 January 2024 | 1,104 | Joint-liability | N/A | N/A | 2024-1-5 -2028-1-5 | Not | Not |
| BOE HC SemiTek (Suzhou) Co., Ltd. | 21 January 2023 | 46,020 | 3 January 2024 | 1,151 | Joint-liability | N/A | N/A | 2024-2-23 -2028-1-18 | Not | Not |
| BOE HC SemiTek (Suzhou) Co., Ltd. | 21 January 2023 | 46,020 | 3 January 2024 | 1,685 | Joint-liability | N/A | N/A | 2020-9-16 -2027-9-16 | Not | Not |
| BOE HC SemiTek (Suzhou) Co., Ltd. | 21 January 2023 | 46,020 | 1 March 2024 | 1,151 | Joint-liability | N/A | N/A | 2024-3-4 -2027-3-1 | Not | Not |
| BOE HC SemiTek (Suzhou) Co., Ltd. | 21 January 2023 | 46,020 | 22 March 2024 | 1,804 | Joint-liability | N/A | N/A | 2024-3-25 -2028-3-22 | Not | Not |
| BOE HC SemiTek (Suzhou) Co., Ltd. | 21 January 2023 | 46,020 | 25 April 2023 | 1,151 | Joint-liability | N/A | N/A | 2024-2-22 -2028-2-21 | Not | Not |
| BOE HC SemiTek (Suzhou) Co., Ltd. | 2 April 2024 | 33,365 | 22 May 2024 | 2,301 | Joint-liability | N/A | N/A | 2024-5-22 -2028-5-22 | Not | Not |
| BOE HC | 2 April 2024 | 33,365 | 6 May 2024 | 1,151 | Joint- | N/A | N/A | 2024-5-10 | Not | Not |
| SemiTek (Suzhou) Co., Ltd. | liability | -2028-5-6 | ||||||||
| Crystaland Co., Ltd. | 21 January 2023 | 4,602 | 19 March 2023 | - | Joint-liability | N/A | N/A | - | Yes | Not |
| Crystaland Co., Ltd. | 27 January 2022 | 9,204 | 22 November 2022 | 505 | Joint-liability | N/A | N/A | 2024-3-26 -2027-12-28 | Not | Not |
| BOE HC SemiTek (Zhejiang) Co., Ltd. | 21 January 2023 | 52,923 | 3 March 2023 | - | Joint-liability | N/A | N/A | - | Yes | Not |
| BOE HC SemiTek (Zhejiang) Co., Ltd. | 21 January 2023 | 52,923 | 13 March 2023 | - | Joint-liability | N/A | N/A | - | Yes | Not |
| BOE HC SemiTek (Zhejiang) Co., Ltd. | 26 January 2021 | 46,020 | 7 January 2022 | - | Joint-liability | N/A | N/A | - | Yes | Not |
| BOE HC SemiTek (Zhejiang) Co., Ltd. | 27 January 2022 | 36,816 | 2 December 2022 | - | Joint-liability | N/A | N/A | - | Yes | Not |
| BOE HC SemiTek (Zhejiang) Co., Ltd. | 21 January 2023 | 52,923 | 15 May 2023 | - | Joint-liability | N/A | N/A | - | Yes | Not |
| BOE HC SemiTek (Zhejiang) Co., Ltd. | 21 January 2023 | 52,923 | 16 June 2023 | - | Joint-liability | N/A | N/A | - | Yes | Not |
| BOE HC SemiTek (Zhejiang) Co., Ltd. | 21 January 2023 | 52,923 | 3 March 2023 | 3,440 | Joint-liability | N/A | N/A | 2024-1-29 -2029-1-25 | Not | Not |
| BOE HC SemiTek (Zhejiang) Co., Ltd. | 21 January 2023 | 52,923 | 26 February 2024 | 1,473 | Joint-liability | N/A | N/A | 2023-7-11 -2027-7-5 | Not | Not |
| BOE HC SemiTek (Zhejiang) Co., Ltd. | 21 January 2023 | 52,923 | 26 February 2024 | 1,933 | Joint-liability | N/A | N/A | 2024-2-28 -2028-1-17 | Not | Not |
| BOE HC SemiTek (Zhejiang) Co., Ltd. | 2 April 2024 | 31,064 | 5 June 2024 | 2,301 | Joint-liability | N/A | N/A | 2024-6-6 -2028-6-4 | Not | Not |
| BOE HC SemiTek (Zhejiang) Co., Ltd. | 2 April 2024 | 31,064 | 5 June 2024 | 1,151 | Joint-liability | N/A | N/A | 2024-6-19 -2029-6-19 | Not | Not |
| BOE HC SemiTek (Zhejiang) Co., Ltd. | 21 January 2023 | 52,923 | 13 March 2023 | 2,589 | Joint-liability | N/A | N/A | 2024-2-28 -2027-2-28 | Not | Not |
| BOE HC | 21 January 2023 | 52,923 | 13 March 2023 | 863 | Joint- | N/A | N/A | 2024-2-27 | Not | Not |
| SemiTek (Zhejiang) Co., Ltd. | liability | -2027-8-27 | ||||||||
| BOE HC SemiTek (Zhejiang) Co., Ltd. | 21 January 2023 | 52,923 | 28 March 2023 | 2,278 | Joint-liability | N/A | N/A | 2023-3-28 -2029-3-27 | Not | Not |
| BOE HC SemiTek (Zhejiang) Co., Ltd. | 21 January 2023 | 52,923 | 6 April 2023 | 2,278 | Joint-liability | N/A | N/A | 2023-4-6 -2029-4-5 | Not | Not |
| BOE HC SemiTek (Zhejiang) Co., Ltd. | 21 January 2023 | 52,923 | 16 June 2023 | 2,301 | Joint-liability | N/A | N/A | 2024-5-29 -2028-5-26 | Not | Not |
| BOE HC SemiTek (Zhejiang) Co., Ltd. | 21 January 2023 | 52,923 | 15 May 2023 | 1,151 | Joint-liability | N/A | N/A | 2024-4-11 -2027-10-10 | Not | Not |
| BOE HC SemiTek (Zhejiang) Co., Ltd. | 21 January 2023 | 52,923 | 15 May 2023 | 690 | Joint-liability | N/A | N/A | 2024-4-18 -2027-10-17 | Not | Not |
| BOE HC SemiTek (Zhejiang) Co., Ltd. | 11 March 2023 | 12,656 | 26 April 2023 | 11,368 | Joint-liability | N/A | N/A | 2023-4-28 -2030-4-23 | Not | Not |
| BOE HC SemiTek (Zhejiang) Co., Ltd. | 18 July 2022 | 31,064 | 30 August 2022 | 4,240 | Joint-liability | N/A | N/A | 2022-10-26 -2035-6-21 | Not | Not |
| Total approved line for such guarantees in the Reporting Period (C1) | 300,000 | Total actual amount of such guarantees in the Reporting Period (C2) | 49,115 | |||||||
| Total approved line for such guarantees at the end of the Reporting Period (C3) | 1,129,672 | Total actual balance of such guarantees at the end of the Reporting Period (C4) | 239,897 | |||||||
| Total guarantee amount (total of the three kinds of guarantees above) | ||||||||||
| Total guarantee line approved in the Reporting Period (A1+B1+C1) | 300,000 | Total actual guarantee amount in the Reporting Period (A2+B2+C2) | 266,653 | |||||||
| Total approved guarantee line at the end of the Reporting Period (A3+B3+C3) | 12,185,517 | Total actual guarantee balance at the end of the Reporting Period (A4+B4+C4) | 5,726,618 | |||||||
| Total actual guarantee amount (A4+B4+C4) as % of the Company’s net assets | 43.77% | |||||||||
| Of which: | ||||||||||
| Balance of guarantees provided for shareholders, actual controller and their related parties (D) | 0 | |||||||||
| Balance of debt guarantees provided directly or indirectly for obligors with an over 70% debt/asset ratio (E) | 115,950 | |||||||||
| Amount by which the total guarantee amount exceeds 50% of the Company’s net assets (F) | 0 | |||||||||
| Total of the three amounts above (D+E+F) | 115,950 | |||||||||
| Joint responsibilities possibly borne or already borne in the Reporting Period for undue guarantees (if any) | N/A | |||||||||
| Provision of external guarantees in breach of the prescribed procedures (if any) | N/A |
Compound guaranteesNone
3. Cash Entrusted for Wealth Management
? Applicable □ Not applicable
Unit: RMB'0,000
| Specific type | Capital resources | Amount incurred | Undue balance | Overdue amount | Overdue amount with provision for impairment |
| Bank financial products | Self-owned funds | 763,300 | 763,300 | 0 | 0 |
| Bank financial products | Raised funds | 40,000 | 40,000 | 0 | 0 |
| Total | 803,300 | 803,300 | 0 | 0 | |
Note: Subsidiary HC Semitek Corporation used not more than RMB400,000,000 of idle proceeds for cash management. Details aredisclosed in the announcement of HC Semitek Corporation on the website of cninfo.com.cn on 16 August 2023.
Particulars of entrusted cash management with single significant amount or low security, bad liquidity, and no capital preservation
□ Applicable ? Not applicable
Whether there is the case where the principal cannot be recovered at maturity or other case which may cause impairment for entrustedasset management
□ Applicable ? Not applicable
4. Other Major Contracts
□ Applicable ? Not applicable
No such cases in the Reporting Period.
XIII 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 PublicIssue of Renewable Corporate Bonds (Announcement No. 2019-052), and the Company received the No. [2019] 1801 Approval fromCSRC. Based on the approval, the Company could publicly issue the renewable corporate bonds with the nominal value no more thanRMB30 billion to qualified investors. The bond outstanding as of the disclosure date of this Report is as follows:
| Bond name | Abbr. | Bond code | Date of issue | Maturity |
| 2022 Public Offering of Renewable Corporate Bonds of BOE (for professional investors) (Digital Economy) (Phase I) | 22BOEY1 | 149861 | 24 March 2022 | 25 March 2025 |
The Company disclosed 2024 "22BOEY1" Interest Payment Announcement (Announcement No. 2024-005) on 21 March 2024. Theinterest payment plan was RMB35.00 (including tax) every ten bonds.
2. On 2 April 2024, the Company disclosed the Announcement on the Election of Non-Independent Directors of the Tenth Session ofthe Board of Directors (Announcement No: 2024-018). On 27 April 2024, the Announcement of the Resolutions of the 2023 AnnualGeneral Meeting was disclosed (Announcement No: 2024-023), where the Proposal on the Election of Non-Independent Directors ofthe Tenth Session of the Board of Directors was deliberated and approved. Mr. Feng Qiang, Mr. Zhu Baocheng, and Mr. Wang Xipingwere elected as non-independent directors of the Tenth Board of Directors. On 28 May 2024, the Company disclosed the Announcementof the Resolutions of the Thirtieth Meeting of the Tenth Board of Directors (Announcement No: 2024-028). The Proposal on theElection of Vice Chairman of the Tenth Board of Directors was deliberated and approved, where Mr. Feng Qiang and Mr. ZhuBaocheng were elected as the Vice Chairmen of the Tenth Board of Directors. On 13 June 2024, the Company disclosed theAnnouncement of the Resignation of Supervisor (Announcement No: 2024-031). Mr. Sun Fuqing submitted his resignation as asupervisor of the Company due to work arrangement, and will not hold any position in the Company after his resignation. On 9 July2024, the Company disclosed the Announcement of Resignation of Director (Announcement No: 2024-038). Mr. Zhu Baochengsubmitted his resignation as a director and Vice Chairman of the Company due to work arrangement, and will not hold any position inthe Company after his resignation. On 25 July 2024, the Company disclosed the Announcement of the Resolutions of the Thirty-SecondMeeting of the Tenth Board of Directors (Announcement No: 2024-042). The Proposal on Adjusting the Composition of the ExecutiveCommittee and Appointing Senior Management Personnel was deliberated and approved. The current senior management member,Mr. Feng Qiang, was promoted from a member of the Executive Committee and Executive Vice President to Vice Chairman of theExecutive Committee. The Board of Directors appointed Mr. Liu Zhiqiang as a member of the Executive Committee and Senior VicePresident. On 25 July 2024, the Company disclosed the Announcement of the Resolutions of the First Extraordinary General Meetingof 2024 (Announcement No: 2024-040). The Proposal on Electing Supervisors of the Tenth Board of Supervisors of the Company wasdeliberated and approved, with Mr. Song Ligong elected as a supervisor of the Tenth Supervisory Board.
3. On 13 June 2024, the Company disclosed the Announcement No. 2024-030 on the Distribution of the 2023 Final Dividend. As the2023 Final Dividend Plan had been approved at the 2023 Annual General Meeting on 26 April 2024, the Company distributed a 2023final dividend of RMB0.3 per 10 shares (dividend to B-shareholders paid in HKD according to the central parity rate of RMB andHKD declared by the People’s Bank of China on the first working day immediately after the date of the relevant general meetingresolution), with no bonus issue from either profit or capital reserves.XIV Significant Events of Subsidiaries
□ Applicable ? Not applicable
Part VII Share Changes and Shareholder Information
I Share Changes
1. Share Changes
Unit: share
| Item | Before | Increase/decrease (+/-) | After | ||||||
| Number | Percentage | New issues | Bonus shares | Bonus issue from profit | Other | Subtotal | Number | Percentage | |
| I. Restricted shares | 198,959,227 | 0.53% | 0 | 0 | 0 | -94,567,704 | -94,567,704 | 104,391,523 | 0.28% |
| 1. Shares held by the state | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| 2. Shares held by state-owned corporations | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| 3. Shares held by other domestic investors | 182,413,489 | 0.48% | 0 | 0 | 0 | -86,188,740 | -86,188,740 | 96,224,749 | 0.26% |
| Among which: Shares held by domestic corporations | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| Shares held by domestic individuals | 182,413,489 | 0.48% | 0 | 0 | 0 | -86,188,740 | -86,188,740 | 96,224,749 | 0.26% |
| 4. Shares held by foreign investors | 16,545,738 | 0.04% | 0 | 0 | 0 | -8,378,964 | -8,378,964 | 8,166,774 | 0.02% |
| Among which: Shares held by foreign corporations | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| Shares held by foreign individuals | 16,545,738 | 0.04% | 0 | 0 | 0 | -8,378,964 | -8,378,964 | 8,166,774 | 0.02% |
| II. Non-restricted shares | 37,453,569,968 | 99.47% | 0 | 0 | 0 | 92,019,925 | 92,019,925 | 37,545,589,893 | 99.72% |
| 1. RMB ordinary shares | 36,760,685,841 | 97.63% | 0 | 0 | 0 | 92,019,925 | 92,019,925 | 36,852,705,766 | 97.88% |
| 2. Domestically listed foreign shares | 692,884,127 | 1.84% | 0 | 0 | 0 | 0 | 0 | 692,884,127 | 1.84% |
| 3. Overseas listed foreign shares | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| 4. Other | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| III. Total shares | 37,652,529,195 | 100.00% | 0 | 0 | 0 | -2,547,779 | -2,547,779 | 37,649,981,416 | 100.00% |
Reasons for share changes:
? Applicable □ Not applicableDuring the Reporting Period, the Company's share incentive scheme involved the partial lifting of restrictions on restricted stocks, therepurchase and cancellation of 2,547,779 restricted shares that had been authorized to some incentive recipients but were still locked,and an increase in management lock-up shares. This led to a total decrease of 94,567,704 shares subject to selling restrictions (of whichdomestic natural persons decreased by 86,188,740 shares, and foreign natural persons decreased by 8,378,964 shares), resulting in atotal increase of 92,019,925 shares not subject to selling restrictions and a net decrease of 2,547,779 shares in the total number of shares.Approval of share changes:
□ Applicable ? Not applicable
Transfer of share ownership:
□ Applicable ? Not applicable
Progress on any share repurchase:
□ Applicable ? Not applicable
Progress on reducing the repurchased shares by means of centralized bidding:
□ Applicable ? Not applicable
Effects of share changes on the basic and diluted earnings per share, equity per share attributable to the Company’s ordinaryshareholders and other financial indicators of the prior year and the prior accounting period, respectively:
? Applicable □ Not applicable
| Item | January-December 2023 | January-June 2024 |
| Basic earnings per share (RMB/share) | 0.06 | 0.06 |
Diluted earnings per share (RMB/share)
| Diluted earnings per share (RMB/share) | 0.06 | 0.06 |
| Item | 31 December 2023 | 30 June 2024 |
Equity per share attributable to the Company’sordinary shareholders
| Equity per share attributable to the Company’s ordinary shareholders | 3.41 | 3.43 |
Other information that the Company considers necessary or is required by the securities regulator to be disclosed:
□ Applicable ? Not applicable
2. Changes in Restricted Shares
? Applicable □ Not applicable
Unit: Share
| Name of the shareholders | Restricted shares amount at the period-begin | Restricted shares relieved of the period | Restricted shares increased of the period | Restricted shares amount at the period-end | Restricted reasons | Restricted shares relieved date |
| Locked shares of executives | 4,237,381 | 0 | 3,839,550 | 8,076,931 | Locked shares of executives | - |
| Restricted shares for equity incentive | 194,721,846 | 98,407,254 | 0 | 96,314,592 | Restricted shares for equity incentive | 1. On 11 April 2024, 95,859,475 shares of equity incentive restricted shares lifted from restricted sales were traded on the market. 2. On 4 June 2024, 2,547,779 shares of equity incentive restricted shares were completed and repurchased. |
| Total | 198,959,227 | 98,407,254 | 3,839,550 | 104,391,523 | -- | -- |
II Issuance and Listing of Securities
□ Applicable ? Not applicable
III Shareholders and Their Holdings as at the Period-End
Unit: share
| Number of ordinary shareholders at the period- | 1,134,173 (including 1,102,840 A-shareholders and 31,333 B-shareholders) |
| end | ||||||||
| 5% or greater ordinary shareholders or top 10 ordinary shareholders (exclusive of shares lent in refinancing) | ||||||||
| Name of shareholder | Nature of shareholder | Shareholding percentage | Total ordinary shares held at the period-end | Increase/decrease in the Reporting Period | Restricted ordinary shares held | Unrestricted ordinary shares held | Shares in pledge, marked or frozen | |
| Status | Shares | |||||||
| Beijing State-owned Capital Operation and Management Company Limited | State-owned legal person | 10.79% | 4,063,333,333 | - | 0 | 4,063,333,333 | N/A | 0 |
| Hong Kong Securities Clearing Company Ltd. | Foreign legal person | 8.01% | 3,015,216,738 | 736,718,363 | 0 | 3,015,216,738 | N/A | 0 |
| Beijing BOE Investment & Development Co., Ltd. | State-owned legal person | 2.18% | 822,092,180 | - | 0 | 822,092,180 | N/A | 0 |
| Beijing Jing Guorui Soe Reform and Development Fund (L.P.) | Other | 1.91% | 718,132,854 | - | 0 | 718,132,854 | N/A | 0 |
| Hefei Jianxiang Investment Co., Ltd. | State-owned legal person | 1.77% | 666,195,772 | - | 0 | 666,195,772 | N/A | 0 |
| Fuqing Huirong Venture Capital Co., Ltd. | Domestic non-state-owned legal person | 1.43% | 538,599,640 | 3,297,100 | 0 | 538,599,640 | In pledge | 15,000,000 |
| Industrial and Commercial Bank of China Co., Ltd.- Huatai-Pinebridge CSI 300 Exchange-Traded Fund | Other | 1.16% | 436,417,047 | 156,798,000 | 0 | 436,417,047 | N/A | 0 |
| Perseverance Asset Management- Perseverance Xiaofeng No.2 Zhixin Fund | Other | 0.94% | 352,999,919 | 3,000,000 | 0 | 352,999,919 | N/A | 0 |
| Ningxia Risheng High-tech Industry Co., Ltd. | Domestic non-state-owned legal person | 0.88% | 331,487,366 | -8,038,400 | 0 | 331,487,366 | N/A | 0 |
| FOTIC-Foreign Trade Trust- Perseverance Xiaofeng | Other | 0.88% | 329,988,907 | - | 0 | 329,988,907 | N/A | 0 |
| Hongyuan Assembled Fund Trust Plan | ||||
| Strategic investors or general corporations becoming top-ten ordinary shareholders due to placing of new shares (if any) | N/A | |||
| Related or acting-in-concert parties among the shareholders above | 1. 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. 2. Except for the above relationships, the Company does not know any other connected party or acting-in-concert party among the top 10 shareholders. | |||
| Explain if any of the shareholders above was involved in entrusting/being entrusted with voting rights or waiving voting rights | 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 it unanimous with Beijing BOE Investment & Development Co., Ltd. when executing the voting rights as a shareholder. | |||
| Special account for share repurchases (if any) among the top 10 shareholders | N/A | |||
| Shareholdings of the top ten unrestricted ordinary shareholders (exclusive of shares lent in refinancing and locked shares of executives) | ||||
| Name of shareholder | Number of unrestricted ordinary shares held at the period-end | Shares by type | ||
| Type | Shares | |||
| Beijing State-owned Capital Operation and Management Company Limited | 4,063,333,333 | RMB ordinary share | 4,063,333,333 | |
| Hong Kong Securities Clearing Company Ltd. | 3,015,216,738 | RMB ordinary share | 3,015,216,738 | |
| Beijing BOE Investment & Development Co., Ltd. | 822,092,180 | RMB ordinary share | 822,092,180 | |
| Beijing Jing Guorui Soe Reform and Development Fund (L.P.) | 718,132,854 | RMB ordinary share | 718,132,854 | |
| Hefei Jianxiang Investment Co., Ltd. | 666,195,772 | RMB ordinary share | 666,195,772 | |
| Fuqing Huirong Venture Capital Co., Ltd. | 538,599,640 | RMB ordinary share | 538,599,640 | |
| Industrial and Commercial Bank of China Co., Ltd.- Huatai-Pinebridge CSI 300 Exchange-Traded Fund | 436,417,047 | RMB ordinary share | 436,417,047 | |
| Perseverance Asset Management- Perseverance Xiaofeng No.2 Zhixin Fund | 352,999,919 | RMB ordinary share | 352,999,919 | |
| Ningxia Risheng High-tech Industry Co., Ltd. | 331,487,366 | RMB ordinary share | 331,487,366 | |
| FOTIC-Foreign Trade Trust- Perseverance Xiaofeng Hongyuan Assembled Fund Trust Plan | 329,988,907 | RMB ordinary share | 329,988,907 | |
| Related or acting-in-concert parties among top 10 unrestricted ordinary | 1. 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 | |||
| shareholders, as well as between top 10 unrestricted ordinary shareholders and top 10 ordinary shareholders | 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. 2. 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 in securities margin trading (if any) | 1. Shareholder Ningxia Risheng High-tech Industry Co., Ltd. totally held 331,487,366 shares in the Company via the customer credit transactions secured securities account in Orient Securities Co., Ltd. 2. Except for the aforesaid, as of the end of the Reporting Period, no shareholder among the top-10 ordinary shareholders of the Company was involved in securities refinancing. |
5% or greater shareholders, top 10 shareholders and Top 10 unrestricted shareholders involved in refinancing shares lending? Applicable □ Not applicable
Unit: share
| 5% or greater shareholders, top 10 shareholders and Top 10 unrestricted shareholders involved in refinancing shares lending | ||||||||
| Full name of shareholder | Shares in the common account and credit account at the period-begin | Shares lent in refinancing and not yet returned at the period-begin | Shares in the common account and credit account at the period-end | Shares lent in refinancing and not yet returned at the period-end | ||||
| Total shares | As % of total share capital | Total shares | As % of total share capital | Total shares | As % of total share capital | Total shares | As % of total share capital | |
| Fuqing Huirong Venture Capital Co., Ltd. | 535,302,540 | 1.42% | 3,297,100 | 0.01% | 538,599,640 | 1.43% | 0 | 0.00% |
| Industrial and Commercial Bank of China Co., Ltd.- Huatai-Pinebridge CSI 300 Exchange-Traded Fund | 279,619,047 | 0.74% | 140,700 | 0.00% | 436,417,047 | 1.16% | 0 | 0.00% |
Changes in top 10 shareholders and top 10 unrestricted shareholders due to refinancing shares lending/return compared with the priorperiod
□Applicable ? Not applicable
Indicate by tick mark whether any of the top 10 ordinary shareholders or the top 10 unrestricted ordinary shareholders of the Companyconducted any promissory repo during the Reporting Period.
□ Yes ? No
No such cases in the Reporting Period.IV Change in Shareholdings of Directors, Supervisors and Senior Management? Applicable □ Not applicable
| Name | Office title | Incumbent/Former | Beginning shareholding (share) | Increase in the Reporting Period (share) | Decrease in the Reporting Period (share) | Ending shareholding (share) | Restricted shares granted at the period-beginning (share) | Restricted shares granted in the Reporting Period (share) | Restricted shares granted at the period-end (share) |
| Chen Yanshun | Chairman of the Board and Chairman of the Executive Committee | Incumbent | 2,900,000.00 | 0.00 | 0.00 | 2,900,000.00 | 1,320,000.00 | 0.00 | 660,000.00 |
| Feng Qiang | Vice Chairman of the Board and Vice Chairman of the Executive Committee | Incumbent | 975,700.00 | 0.00 | 0.00 | 975,700.00 | 495,000.00 | 0.00 | 247,500.00 |
| Gao Wenbao | Director, President and Vice Chairman of the Executive Committee | Incumbent | 1,860,700.00 | 0.00 | 0.00 | 1,860,700.00 | 990,000.00 | 0.00 | 495,000.00 |
| Wu Lishun | Director | Incumbent | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Wang Xiping | Director, Member of the Executive Committee and Executive Vice President | Incumbent | 852,400.00 | 0.00 | 0.00 | 852,400.00 | 495,000.00 | 0.00 | 247,500.00 |
| Ye Feng | Director | Incumbent | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Tang Shoulian | Independent Director | Incumbent | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Zhang Xinmin | Independent Director | Incumbent | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Guo He | Independent Director | Incumbent | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Wang Duoxiang | Independent Director | Incumbent | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Wang Jin | Chairman of the Supervisory Committee | Incumbent | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Shi Xiaodong | Supervisor | Incumbent | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Song Ligong | Supervisor | Incumbent | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Xu Jinghe | Supervisor | Incumbent | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Yan Jun | Employee Supervisor | Incumbent | 32,000.00 | 0.00 | 0.00 | 32,000.00 | 0.00 | 0.00 | 0.00 |
| Xu Yangping | Employee Supervisor | Incumbent | 35,000.00 | 0.00 | 0.00 | 35,000.00 | 0.00 | 0.00 | 0.00 |
| Teng Jiao | Employee Supervisor | Incumbent | 55,200.00 | 0.00 | 0.00 | 55,200.00 | 0.00 | 0.00 | 0.00 |
| Sun Yun | Director | Former | 1,989,481.00 | 0.00 | 0.00 | 1,989,481.00 | 990,000.00 | 0.00 | 495,000.00 |
| Member of the Executive Committee | Incumbent |
| and Executive Vice President | |||||||||
| Feng Liqiong | Member of the Executive Committee, Executive Vice President and CLO | Incumbent | 1,360,000.00 | 0.00 | 0.00 | 1,360,000.00 | 660,000.00 | 0.00 | 330,000.00 |
| Zhang Yu | Member of the Executive Committee and Executive Vice President | Incumbent | 751,600.00 | 0.00 | 0.00 | 751,600.00 | 418,440.00 | 0.00 | 209,220.00 |
| Yang Xiaoping | Member of the Executive Committee, Executive Vice President and CFO | Incumbent | 742,300.00 | 0.00 | 0.00 | 742,300.00 | 418,440.00 | 0.00 | 209,220.00 |
| Liu Zhiqiang | Member of the Executive Committee and Senior Vice President | Incumbent | 247,500.00 | 0.00 | 0.00 | 247,500.00 | 247,500.00 | 0.00 | 247,500.00 |
| Guo Huaping | Senior Vice President and CCO | Incumbent | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Yue Zhanqiu | Senior Vice President and CASO | Incumbent | 553,440.00 | 0.00 | 0.00 | 553,440.00 | 418,440.00 | 0.00 | 209,220.00 |
| Liu Hongfeng | Vice President and Board Secretary | Incumbent | 1,024,500.00 | 0.00 | 0.00 | 1,024,500.00 | 495,000.00 | 0.00 | 247,500.00 |
| Pan Jinfeng | Vice Chairman of the Board | Former | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Liu Xiaodong | Vice Chairman of the Board and member of the Executive Committee | Former | 2,480,000.00 | 0.00 | 0.00 | 2,480,000.00 | 1,188,000.00 | 0.00 | 594,000.00 |
| Sun Fuqing | Supervisor | Former | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Zhu Baocheng | Vice Chairman of the Board | Former | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total | -- | -- | 15,859,821.00 | 0.00 | 0.00 | 15,859,821.00 | 8,135,820.00 | 0.00 | 4,191,660.00 |
Notes:
1. On July 24, 2024, the Board of Directors appointed Mr. Liu Zhiqiang as a senior management officer of the Company. The numberof shares held by Mr. Liu Zhiqiang at the beginning of the period and the number of restricted shares granted at the beginning of theperiod are indicated by the number of shares held on the date of his appointment;
2. The conditions for the release of restricted shares granted under the Company's 2020 Stock Options and Restricted Stock IncentivePlan during the second lock-up period have been fulfilled, and the restricted shares will be listed for circulation on April 11, 2024. Asa result, the number of restricted shares granted to directors and senior management at the end of the period decreased. After part ofthe restricted shares held by the directors and senior managers of the company in this incentive plan are unlocked, The locking upand trading of its shares shall comply with the Company Law, the Securities Law, the Rules on the Management of Shares Held byDirectors, Supervisors and Senior Managers of Listed Companies and their Changes (Revised in 2024), and Guideline No. 1 of theShenzhen Stock Exchange Regarding Self-disciplinary Activities and Regulation of Listed Companies—Compliance in Operation ofMain Board Listed Companies, Shenzhen Stock Exchange Listed Companies Self-Regulatory Guidelines No. 10 - Share ChangeManagement and other relevant laws and regulations.
V Change of the Controlling Shareholder or the Actual ControllerChange of the controlling shareholder in the Reporting Period
□ Applicable ? Not applicable
No such cases in the Reporting Period.Change of the actual controller in the Reporting Period
□ Applicable ? Not applicable
No such cases in the Reporting Period.
Part VIII Preference Shares
□ Applicable ? Not applicable
No preference shares in the Reporting Period.
Part IX Bonds? Applicable □ Not applicableI Enterprise Bonds
□ Applicable ? Not applicable
No enterprise bonds in the Reporting Period.II Corporate Bonds? Applicable □ Not applicable
1. Basic Information of the Corporate Bonds
Unit: RMB’0,000
| Bond name | Abbr. | Bond code | Date of issue | Value date | Maturity | Balance (RMB’0,000) | Coupon rate | Way of redemption | Trade place |
| 2022 Public Offering of Renewable Corporate Bonds of BOE (for professional investors) (Digital Economy) (Phase I) | 22BOEY1 | 149861 | 24 March 2022 | 25 March 2022 | 25 March 2025 | 200,000 | 3.50% | If the issuer does not execute its right in the deferred interest payment, corresponding interests shall be paid for this issue of bonds yearly, and the last installment of interest shall be paid with the redemption of principal. | SZSE |
| Appropriate arrangement of the investors (if any) | Only for the qualified investors | ||||||||
| Applicable trade mechanism | Centralized bidding trade and negotiated block trade | ||||||||
| Risk of delisting (if any) and countermeasures | Not | ||||||||
Overdue bonds
□ Applicable ? Not applicable
2. The Trigger and Execution of the Option Clause of the Issuers or Investors and the Investor ProtectionClause
? Applicable □ Not applicableFor the renewable corporate bonds “22BOEY1”, 3 interest-bearing years shall be regarded as a cycle. At the end of each cycle, theissuer shall have the right to conditionally extend the issue of bonds for another cycle (3 years) or choose to fully redeem the due bondsat the end of the cycle. The above-mentioned renewable corporate bonds incorporate the option of issuer to postpone interest payment,the Company has not exercised such option and the renewal option of issuer as at the date of approval of this report.
3. Adjustment of Credit Rating Results during the Reporting Period
□ Applicable ? Not applicable
4. Execution and Changes of Guarantee, Repayment Plan and Other Repayment Guarantee Measures aswell as Influence on Equity of Bond Investors during the Reporting Period
□ Applicable ? Not applicable
III Debt Financing Instruments of Non-financial Enterprises
□ Applicable ? Not applicable
No such cases in the Reporting Period.IV Convertible Corporate Bonds
□ Applicable ? Not applicable
No such cases in the Reporting Period.V Losses of Scope of Consolidated Financial Statements during the Reporting Period Exceeding10% of Net Assets up the Period-end of Last Year
□ Applicable ? Not applicable
VI The Major Accounting Data and the Financial Indicators of the Recent 2 Years of theCompany up the Period-end
Unit: RMB’0,000
| Item | 30 June 2024 | 31 December 2023 | Change |
| Current ratio | 1.55 | 1.59 | -2.52% |
| Debt/asset ratio | 52.52% | 52.81% | -0.29% |
| Quick ratio | 1.29 | 1.32 | -2.27% |
| Item | H1 2024 | H1 2023 | Change |
| Net profit before exceptional gains and losses | 161,340 | -158,444 | 201.83% |
| EBITDA/debt ratio | 15.60% | 12.52% | 3.08% |
| Interest cover (times) | 2.06 | 0.61 | 237.70% |
| Cash-to-interest cover (times) | 10.81 | 6.35 | 70.24% |
| EBITDA-to-interest cover (times) | 10.69 | 8.24 | 29.73% |
| Loan repayment ratio (%) | 100.00% | 100.00% | 0.00% |
| Interest payment ratio (%) | 100.00% | 100.00% | 0.00% |
Part X Financial StatementsI Independent Auditor’s Report
Are these interim financial statements audited by an independent auditor?
□ Yes ? No
These interim financial statements have not been audited by an independent auditor.II Financial StatementsCurrency unit for the financial statements and the notes thereto: RMB
1. Consolidated Balance Sheet
Prepared by BOE Technology Group Co., Ltd.
30 June 2024
Unit: RMB
| Item | 30 June 2024 | 1 January 2024 |
| Current assets: | ||
| Monetary assets | 82,202,140,937.00 | 72,467,392,718.00 |
| Settlement reserve | 0.00 | 0.00 |
| Interbank loans granted | 0.00 | 0.00 |
| Held-for-trading financial assets | 8,413,163,737.00 | 7,755,964,495.00 |
| Derivative financial assets | 0.00 | 0.00 |
| Notes receivable | 430,055,730.00 | 375,577,011.00 |
| Accounts receivable | 32,321,586,674.00 | 33,365,416,490.00 |
| Accounts receivable financing | 428,298,548.00 | 408,534,622.00 |
| Prepayments | 658,054,558.00 | 558,659,780.00 |
| Premiums receivable | 0.00 | 0.00 |
| Reinsurance receivables | 0.00 | 0.00 |
| Receivable reinsurance contract reserve | 0.00 | 0.00 |
| Other receivables | 736,457,391.00 | 726,659,207.00 |
| Including: Interest receivable | 0.00 | 0.00 |
| Dividends receivable | 74,630,717.00 | 0.00 |
| Financial assets purchased under resale agreements | 0.00 | 0.00 |
| Inventories | 26,029,426,424.00 | 24,119,667,325.00 |
| Including: Data resource | 0.00 | 0.00 |
| Contract assets | 115,457,722.00 | 95,710,742.00 |
| Assets held for sale | 0.00 | 0.00 |
| Current portion of non-current assets | 67,371,460.00 | 8,683,381.00 |
| Other current assets | 3,354,536,894.00 | 3,308,338,931.00 |
| Total current assets | 154,756,550,075.00 | 143,190,604,702.00 |
| Non-current assets: | ||
| Loans and advances to customers | 0.00 | 0.00 |
| Investments in debt obligations | 0.00 | 0.00 |
| Investments in other debt obligations | 0.00 | 0.00 |
| Long-term receivables | 484,461.00 | 3,341,844.00 |
| Long-term equity investments | 13,156,657,396.00 | 13,731,696,627.00 |
| Investments in other equity instruments | 480,818,902.00 | 494,629,577.00 |
| Other non-current financial assets | 2,307,839,682.00 | 2,253,778,325.00 |
| Investment property | 1,456,236,579.00 | 1,412,553,446.00 |
| Fixed assets | 211,615,521,758.00 | 210,371,476,524.00 |
| Construction in progress | 18,750,692,333.00 | 29,670,115,546.00 |
| Productive living assets | 0.00 | 0.00 |
| Oil and gas assets | 0.00 | 0.00 |
| Right-of-use assets | 780,388,211.00 | 724,344,345.00 |
| Intangible assets | 11,575,639,341.00 | 11,565,585,700.00 |
| Including: Data resource | 0.00 | 0.00 |
| Development costs | 101,477,765.00 | 166,977,531.00 |
| Including: Data resource | 0.00 | 0.00 |
| Goodwill | 704,705,586.00 | 704,705,586.00 |
| Long-term prepaid expense | 521,113,108.00 | 534,494,564.00 |
| Deferred income tax assets | 554,948,957.00 | 396,877,020.00 |
| Other non-current assets | 5,604,788,233.00 | 3,965,918,458.00 |
| Total non-current assets | 267,611,312,312.00 | 275,996,495,093.00 |
| Total assets | 422,367,862,387.00 | 419,187,099,795.00 |
| Current liabilities: | ||
| Short-term borrowings | 1,834,826,491.00 | 1,746,184,534.00 |
| Borrowings from the central bank | 0.00 | 0.00 |
| Interbank loans obtained | 0.00 | 0.00 |
| Held-for-trading financial liabilities | 0.00 | 0.00 |
| Derivative financial liabilities | 0.00 | 0.00 |
| Notes payable | 1,209,368,796.00 | 919,313,033.00 |
| Accounts payable | 37,165,890,556.00 | 32,977,603,351.00 |
| Advances from customers | 57,387,695.00 | 94,704,981.00 |
| Contract liabilities | 2,719,095,139.00 | 3,000,168,620.00 |
| Financial assets sold under repurchase agreements | 0.00 | 0.00 |
| Customer deposits and interbank deposits | 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 | 3,541,971,701.00 | 3,100,911,276.00 |
| Taxes payable | 1,309,426,147.00 | 1,317,080,022.00 |
| Other payables | 17,446,672,559.00 | 19,487,760,965.00 |
| Including: Interest payable | 187,914.00 | 175,698.00 |
| Dividends payable | 77,090,381.00 | 39,014,714.00 |
| Handling charges 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 | 31,509,448,305.00 | 24,437,027,442.00 |
| Other current liabilities | 2,985,848,670.00 | 3,085,773,591.00 |
| Total current liabilities | 99,779,936,059.00 | 90,166,527,815.00 |
| Non-current liabilities: | ||
| Insurance contract reserve | 0.00 | 0.00 |
| Long-term borrowings | 112,571,968,308.00 | 121,546,339,022.00 |
| Bonds payable | 0.00 | 0.00 |
| Including: Preferred shares | 0.00 | 0.00 |
| Perpetual bonds | 0.00 | 0.00 |
| Lease liabilities | 656,019,088.00 | 542,141,496.00 |
| Long-term payables | 157,457,082.00 | 171,611,393.00 |
| Long-term employee benefits payable | 0.00 | 0.00 |
| Provisions | 3,580,000.00 | 3,580,000.00 |
| Deferred income | 4,718,286,711.00 | 4,763,051,955.00 |
| Deferred income tax liabilities | 1,461,399,118.00 | 1,694,639,729.00 |
| Other non-current liabilities | 2,496,183,179.00 | 2,500,522,066.00 |
| Total non-current liabilities | 122,064,893,486.00 | 131,221,885,661.00 |
| Total liabilities | 221,844,829,545.00 | 221,388,413,476.00 |
| Owners’ equity: |
| Share capital | 37,649,981,416.00 | 37,652,529,195.00 |
| Other equity instruments | 2,008,115,275.00 | 2,043,402,946.00 |
| Including: Preferred shares | 0.00 | 0.00 |
| Perpetual bonds | 2,008,115,275.00 | 2,043,402,946.00 |
| Capital reserves | 52,207,918,070.00 | 52,113,580,746.00 |
| Less: Treasury stock | 228,132,634.00 | 462,036,240.00 |
| Other comprehensive income | -1,210,685,675.00 | -1,136,997,224.00 |
| Specific reserve | 120,679,018.00 | 66,472,402.00 |
| Surplus reserves | 3,571,778,635.00 | 3,571,778,635.00 |
| General reserve | 0.00 | 0.00 |
| Retained earnings | 36,714,413,473.00 | 35,579,576,607.00 |
| Total equity attributable to owners of the Company as the parent | 130,834,067,578.00 | 129,428,307,067.00 |
| Non-controlling interests | 69,688,965,264.00 | 68,370,379,252.00 |
| Total owners’ equity | 200,523,032,842.00 | 197,798,686,319.00 |
| Total liabilities and owners’ equity | 422,367,862,387.00 | 419,187,099,795.00 |
Legal representative: Chen Yanshun President of the Company’s Execution Committee: Gao WenbaoChief Financial Officer: Yang Xiaoping Head of the Company’s Financial Department: Teng Jiao
2. Balance Sheet of the Company as the Parent
Unit: RMB
| Item | 30 June 2024 | 1 January 2024 |
| Current assets: | ||
| Monetary assets | 7,279,773,486.00 | 4,255,943,334.00 |
| Held-for-trading financial assets | 0.00 | 0.00 |
| Derivative financial assets | 0.00 | 0.00 |
| Notes receivable | 0.00 | 0.00 |
| Accounts receivable | 3,358,442,685.00 | 4,870,413,096.00 |
| Accounts receivable financing | 0.00 | 0.00 |
| Prepayments | 13,477,886.00 | 4,807,079.00 |
| Other receivables | 28,623,840,964.00 | 28,381,628,538.00 |
| Including: Interest receivable | 0.00 | 0.00 |
| Dividends receivable | 1,170,485,442.00 | 1,189,273,456.00 |
| Inventories | 18,298,975.00 | 19,337,053.00 |
| Including: Data resource | 0.00 | 0.00 |
| Contract assets | 0.00 | 0.00 |
| Assets held for sale | 0.00 | 0.00 |
| Current portion of non-current assets | 0.00 | 0.00 |
| Other current assets | 53,621,349.00 | 126,758,000.00 |
| Total current assets | 39,347,455,345.00 | 37,658,887,100.00 |
| Non-current assets: | ||
| Investments in debt obligations | 0.00 | 0.00 |
| Investments in other debt obligations | 0.00 | 0.00 |
| Long-term receivables | 0.00 | 0.00 |
| Long-term equity investments | 194,301,495,463.00 | 191,109,201,591.00 |
| Investments in other equity instruments | 45,798,617.00 | 62,020,419.00 |
| Other non-current financial assets | 1,547,839,682.00 | 1,493,778,324.00 |
| Investment property | 240,057,232.00 | 246,605,801.00 |
| Fixed assets | 897,382,877.00 | 945,373,523.00 |
| Construction in progress | 660,702,537.00 | 612,320,190.00 |
| Productive living assets | 0.00 | 0.00 |
| Oil and gas assets | 0.00 | 0.00 |
| Right-of-use assets | 66,311,554.00 | 86,718,376.00 |
| Intangible assets | 952,281,806.00 | 997,974,193.00 |
| Including: Data resource | 0.00 | 0.00 |
| Development costs | 0.00 | 0.00 |
| Including: Data resource | 0.00 | 0.00 |
| Goodwill | 0.00 | 0.00 |
| Long-term prepaid expense | 326,078,114.00 | 337,051,031.00 |
| Deferred income tax assets | 0.00 | 0.00 |
| Other non-current assets | 502,824,807.00 | 1,740,557,308.00 |
| Total non-current assets | 199,540,772,689.00 | 197,631,600,756.00 |
| Total assets | 238,888,228,034.00 | 235,290,487,856.00 |
| Current liabilities: | ||
| Short-term borrowings | 0.00 | 0.00 |
| Held-for-trading financial liabilities | 0.00 | 0.00 |
| Derivative financial liabilities | 0.00 | 0.00 |
| Notes payable | 0.00 | 0.00 |
| Accounts payable | 369,919,288.00 | 566,941,531.00 |
| Advances from customers | 14,820,102.00 | 10,542,897.00 |
| Contract liabilities | 384,579.00 | 74,594.00 |
| Employee benefits payable | 262,300,701.00 | 300,267,423.00 |
| Taxes payable | 100,277,197.00 | 279,057,718.00 |
| Other payables | 4,427,289,167.00 | 3,515,995,979.00 |
| Including: Interest payable | 0.00 | 0.00 |
| Dividends payable | 6,451,171.00 | 6,451,170.00 |
| Liabilities directly associated with assets held for sale | 0.00 | 0.00 |
| Current portion of non-current liabilities | 7,384,148,040.00 | 4,029,679,945.00 |
| Other current liabilities | 41,879,811.00 | 77,354,731.00 |
| Total current liabilities | 12,601,018,885.00 | 8,779,914,818.00 |
| Non-current liabilities: | ||
| Long-term borrowings | 44,633,100,000.00 | 44,053,100,000.00 |
| Bonds payable | 0.00 | 0.00 |
| Including: Preferred shares | 0.00 | 0.00 |
| Perpetual bonds | 0.00 | 0.00 |
| Lease liabilities | 22,331,202.00 | 42,482,289.00 |
| Long-term payables | 0.00 | 0.00 |
| Long-term employee benefits payable | 0.00 | 0.00 |
| Provisions | 0.00 | 0.00 |
| Deferred income | 500,338,218.00 | 954,798,900.00 |
| Deferred income tax liabilities | 100,659,471.00 | 222,201,768.00 |
| Other non-current liabilities | 79,300,793,681.00 | 79,800,793,681.00 |
| Total non-current liabilities | 124,557,222,572.00 | 125,073,376,638.00 |
| Total liabilities | 137,158,241,457.00 | 133,853,291,456.00 |
| Owners’ equity: | ||
| Share capital | 37,649,981,416.00 | 37,652,529,195.00 |
| Other equity instruments | 2,008,115,275.00 | 2,043,402,946.00 |
| Including: Preferred shares | 0.00 | 0.00 |
| Perpetual bonds | 2,008,115,275.00 | 2,043,402,946.00 |
| Capital reserves | 51,824,950,199.00 | 51,741,820,724.00 |
| Less: Treasury stock | 228,132,634.00 | 462,036,240.00 |
| Other comprehensive income | -337,507,453.00 | -296,433,056.00 |
| Specific reserve | 0.00 | 0.00 |
| Surplus reserves | 3,571,778,635.00 | 3,571,778,635.00 |
| Retained earnings | 7,240,801,139.00 | 7,186,134,196.00 |
| Total owners’ equity | 101,729,986,577.00 | 101,437,196,400.00 |
| Total liabilities and owners’ equity | 238,888,228,034.00 | 235,290,487,856.00 |
3. Consolidated Income Statement
Unit: RMB
| Item | H1 2024 | H1 2023 |
| 1. Revenue | 93,386,241,632.00 | 80,177,875,220.00 |
| Including: Operating revenue | 93,386,241,632.00 | 80,177,875,220.00 |
| Interest income | 0.00 | 0.00 |
| Insurance premium income | 0.00 | 0.00 |
| Handling charge and commission income | 0.00 | 0.00 |
| 2. Costs and expenses | 89,892,399,318.00 | 83,839,057,017.00 |
| Including: Cost of sales | 78,449,047,476.00 | 72,933,845,456.00 |
| Interest expense | 0.00 | 0.00 |
| Handling charge 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 surcharges | 617,649,507.00 | 540,534,727.00 |
| Selling expense | 1,890,377,290.00 | 1,927,463,296.00 |
| Administrative expense | 2,833,605,971.00 | 2,733,334,581.00 |
| R&D expense | 5,806,276,741.00 | 5,267,009,863.00 |
| Finance costs | 295,442,333.00 | 436,869,094.00 |
| Including: Interest expense | 1,951,473,824.00 | 1,838,822,216.00 |
| Interest income | 1,145,670,653.00 | 978,583,668.00 |
| Add: Other income | 1,077,271,600.00 | 2,746,029,724.00 |
| Return on investment (“-” for loss) | -211,962,576.00 | 775,299,042.00 |
| Including: Share of profit or loss of joint ventures and associates | -343,013,126.00 | 698,402,235.00 |
| Income from the derecognition of financial assets at amortized cost (“-” for loss) | 0.00 | 0.00 |
| 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) | -50,062,137.00 | 167,439,034.00 |
| Credit impairment loss (“-” for loss) | -23,779,955.00 | 8,479,174.00 |
| Asset impairment loss (“-” for loss) | -2,086,855,010.00 | -1,056,660,701.00 |
| Asset disposal income (“-” for loss) | 7,613,281.00 | 9,272,560.00 |
| 3. Operating profit (“-” for loss) | 2,206,067,517.00 | -1,011,322,964.00 |
| Add: Non-operating income | 119,556,239.00 | 195,938,361.00 |
| Less: Non-operating expense | 46,890,002.00 | 31,666,388.00 |
| 4. Profit before tax (“-” for loss) | 2,278,733,754.00 | -847,050,991.00 |
| Less: Income tax expense | 508,068,093.00 | 820,532,936.00 |
| 5. Net profit (“-” for net loss) | 1,770,665,661.00 | -1,667,583,927.00 |
| 5.1 By operating continuity | ||
| 5.1.1 Net profit from continuing operations (“-” for net loss) | 1,770,665,661.00 | -1,667,583,927.00 |
| 5.1.2 Net profit from discontinued operations (“-” for net loss) | 0.00 | 0.00 |
| 5.2 By ownership | ||
| 5.2.1 Net profit attributable to shareholders of the Company as the parent (“-” for net loss) | 2,284,051,354.00 | 735,809,609.00 |
| 5.2.2 Net profit attributable to non-controlling interests (“-” for net loss) | -513,385,693.00 | -2,403,393,536.00 |
| 6. Other comprehensive income, net of tax | -67,138,521.00 | 403,948,040.00 |
| Attributable to owners of the Company as the parent | -59,116,865.00 | 294,149,500.00 |
| 6.1 Items that will not be reclassified to profit or loss | -18,196,685.00 | 23,249,572.00 |
| 6.1.1 Changes caused by remeasurements on defined benefit schemes | 0.00 | 0.00 |
| 6.1.2 Other comprehensive income that will not be reclassified to profit or loss under the equity method | -27,297,767.00 | 6,317,985.00 |
| 6.1.3 Changes in the fair value of investments in other equity instruments | 9,101,082.00 | 16,931,587.00 |
| 6.1.4 Changes in the fair value arising from changes in own credit | 0.00 | 0.00 |
| risk | ||
| 6.1.5 Other | 0.00 | 0.00 |
| 6.2 Items that will be reclassified to profit or loss | -40,920,180.00 | 270,899,928.00 |
| 6.2.1 Other comprehensive income that will be reclassified to profit or loss under the equity method | 0.00 | 0.00 |
| 6.2.2 Changes in the fair value of investments in other debt obligations | 0.00 | 0.00 |
| 6.2.3 Other comprehensive income arising from the reclassification of financial assets | 0.00 | 0.00 |
| 6.2.4 Credit impairment allowance for investments in other debt obligations | 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 | -40,920,180.00 | 270,899,928.00 |
| 6.2.7 Other | 0.00 | 0.00 |
| Attributable to non-controlling interests | -8,021,656.00 | 109,798,540.00 |
| 7. Total comprehensive income | 1,703,527,140.00 | -1,263,635,887.00 |
| Attributable to owners of the Company as the parent | 2,224,934,489.00 | 1,029,959,109.00 |
| Attributable to non-controlling interests | -521,407,349.00 | -2,293,594,996.00 |
| 8. Earnings per share | ||
| 8.1 Basic earnings per share | 0.06 | 0.02 |
| 8.2 Diluted earnings per share | 0.06 | 0.02 |
Where business combinations under common control occurred in the current period, the net profit achieved by the acquirees beforethe combinations was RMB0.00, with the amount for the same period of last year being RMB0.00.Legal representative: Chen Yanshun Chief Executive Officer: Gao WenbaoChief Financial Officer: Yang Xiaoping Head of the Company’s Financial Department: Teng Jiao
4. Income Statement of the Company as the Parent
Unit: RMB
| Item | H1 2024 | H1 2023 |
| 1. Operating revenue | 1,876,763,421.00 | 1,666,351,287.00 |
| Less: Cost of sales | 4,889,412.00 | 4,658,611.00 |
| Taxes and surcharges | 24,067,028.00 | 21,158,994.00 |
| Selling expense | 0.00 | 0.00 |
| Administrative expense | 633,418,944.00 | 642,786,470.00 |
| R&D expense | 1,098,730,985.00 | 967,119,283.00 |
| Finance costs | 224,860,465.00 | 194,966,535.00 |
| Including: Interest expense | 253,696,296.00 | 256,256,753.00 |
| Interest income | 25,182,705.00 | 42,139,306.00 |
| Add: Other income | 467,148,637.00 | 480,480,116.00 |
| Return on investment (“-” for loss) | 861,398,826.00 | 1,294,301,319.00 |
| Including: Share of profit or loss of joint ventures and associates | -224,688,237.00 | 588,103,242.00 |
| Income from the derecognition of financial assets at amortized cost (“-” 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) | 0.00 | 49,498,773.00 |
| Credit impairment loss (“-” for loss) | 0.00 | 4,667,251.00 |
| Asset impairment loss (“-” for loss) | -78,547.00 | -154,130.00 |
| Asset disposal income (“-” for loss) | 221.00 | 703.00 |
| 2. Operating profit (“-” for loss) | 1,219,265,724.00 | 1,664,455,426.00 |
| Add: Non-operating income | 4,956,825.00 | 3,121,629.00 |
| Less: Non-operating expense | 20,325,218.00 | 231,353.00 |
| 3. Profit before tax (“-” for loss) | 1,203,897,331.00 | 1,667,345,702.00 |
| Less: Income tax expense | -14,555,686.00 | 150,625,221.00 |
| 4. Net profit (“-” for net loss) | 1,218,453,017.00 | 1,516,720,481.00 |
| 4.1 Net profit from continuing operations (“-” for net loss) | 1,218,453,017.00 | 1,516,720,481.00 |
| 4.2 Net profit from discontinued operations (“-” for net loss) | 0.00 | 0.00 |
| 5. Other comprehensive income, net of tax | -41,074,397.00 | 25,364,856.00 |
| 5.1 Items that will not be reclassified to profit or loss | -41,074,397.00 | 25,364,856.00 |
| 5.1.1 Changes caused by remeasurements on defined benefit schemes | 0.00 | 0.00 |
| 5.1.2 Other comprehensive income that will not be reclassified to profit or loss under the equity method | -27,285,865.00 | 6,317,985.00 |
| 5.1.3 Changes in the fair value of investments in other equity instruments | -13,788,532.00 | 19,046,871.00 |
| 5.1.4 Changes in the fair value arising from changes in own credit risk | 0.00 | 0.00 |
| 5.1.5 Other | 0.00 | 0.00 |
| 5.2 Items that will be reclassified to profit or loss | 0.00 | 0.00 |
| 5.2.1 Other comprehensive income that will be reclassified to profit or loss under the equity method | 0.00 | 0.00 |
| 5.2.2 Changes in the fair value of investments in other debt obligations | 0.00 | 0.00 |
| 5.2.3 Other comprehensive income arising from the reclassification of financial assets | 0.00 | 0.00 |
| 5.2.4 Credit impairment allowance for investments in other debt obligations | 0.00 | 0.00 |
| 5.2.5 Reserve for cash flow hedges | 0.00 | 0.00 |
| 5.2.6 Differences arising from the translation of foreign currency-denominated financial statements | 0.00 | 0.00 |
| 5.2.7 Other | 0.00 | 0.00 |
| 6. Total comprehensive income | 1,177,378,620.00 | 1,542,085,337.00 |
| 7. Earnings per share | ||
| 7.1 Basic earnings per share | 0.03 | 0.04 |
| 7.2 Diluted earnings per share | 0.03 | 0.04 |
5. Consolidated Cash Flow Statement
Unit: RMB
| Item | H1 2024 | H1 2023 |
| 1. Cash flows from operating activities: | ||
| Proceeds from sale of commodities and rendering of services | 101,341,162,170.00 | 85,492,716,009.00 |
| Net increase in customer deposits and interbank deposits | 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, handling charges and commissions received | 0.00 | 0.00 |
| Net increase in interbank loans obtained | 0.00 | 0.00 |
| Net increase in proceeds from repurchase transactions | 0.00 | 0.00 |
| Net proceeds from acting trading of securities | 0.00 | 0.00 |
| Tax rebates | 4,529,503,447.00 | 5,175,265,145.00 |
| Cash generated from other operating activities | 1,940,483,204.00 | 3,319,951,107.00 |
| Subtotal of cash generated from operating activities | 107,811,148,821.00 | 93,987,932,261.00 |
| Payments for commodities and services | 66,198,070,977.00 | 64,067,391,607.00 |
| Net increase in loans and advances to customers | 0.00 | 0.00 |
| Net increase in deposits in the central bank and in interbank loans granted | 0.00 | 0.00 |
| Payments for claims on original insurance contracts | 0.00 | 0.00 |
| Net increase in interbank loans granted | 0.00 | 0.00 |
| Interest, handling charges and commissions paid | 0.00 | 0.00 |
| Policy dividends paid | 0.00 | 0.00 |
| Cash paid to and for employees | 10,095,625,332.00 | 9,063,210,388.00 |
| Taxes paid | 3,028,368,781.00 | 2,054,933,349.00 |
| Cash used in other operating activities | 3,610,114,439.00 | 2,558,727,794.00 |
| Subtotal of cash used in operating activities | 82,932,179,529.00 | 77,744,263,138.00 |
| Net cash generated from/used in operating activities | 24,878,969,292.00 | 16,243,669,123.00 |
| 2. Cash flows from investing activities: | ||
| Proceeds from disinvestment | 17,600,417,457.00 | 42,819,205,131.00 |
| Return on investment | 470,013,790.00 | 335,703,497.00 |
| Net proceeds from the disposal of fixed assets, intangible assets and other long-lived assets | 32,014,720.00 | 15,350,205.00 |
| Net proceeds from the disposal of subsidiaries and other business units | 0.00 | 0.00 |
| Cash generated from other investing activities | 1,250,747,245.00 | 2,109,245,407.00 |
| Subtotal of cash generated from investing activities | 19,353,193,212.00 | 45,279,504,240.00 |
| Payments for the acquisition of fixed assets, intangible assets and other long-lived assets | 12,322,541,255.00 | 9,606,032,165.00 |
| Payments for investments | 22,503,935,768.00 | 37,684,686,228.00 |
| Net increase in pledged loans granted | 0.00 | 0.00 |
| Net payments for the acquisition of subsidiaries and other business units | 0.00 | 0.00 |
| Cash used in other investing activities | 40,770,633.00 | 11,541,974.00 |
| Subtotal of cash used in investing activities | 34,867,247,656.00 | 47,302,260,367.00 |
| Net cash generated from/used in investing activities | -15,514,054,444.00 | -2,022,756,127.00 |
| 3. Cash flows from financing activities: | ||
| Capital contributions received | 2,095,409,000.00 | 1,302,100,202.00 |
| Including: Capital contributions by non-controlling interests to subsidiaries | 2,095,409,000.00 | 1,302,100,202.00 |
| Borrowings raised | 23,153,021,498.00 | 15,195,788,662.00 |
| Cash generated from other financing activities | 0.00 | 1,528,590.00 |
| Subtotal of cash generated from financing activities | 25,248,430,498.00 | 16,499,417,454.00 |
| Repayment of borrowings | 24,815,200,527.00 | 20,880,858,261.00 |
| Interest and dividends paid | 3,789,619,645.00 | 5,419,025,898.00 |
| Including: Dividends paid by subsidiaries to non-controlling interests | 27,452,890.00 | 0.00 |
| Cash used in other financing activities | 468,531,114.00 | 9,014,541,065.00 |
| Subtotal of cash used in financing activities | 29,073,351,286.00 | 35,314,425,224.00 |
| Net cash generated from/used in financing activities | -3,824,920,788.00 | -18,815,007,770.00 |
| 4. Effect of foreign exchange rates changes on cash and cash equivalents | 323,826,553.00 | 800,373,886.00 |
| 5. Net increase in cash and cash equivalents | 5,863,820,613.00 | -3,793,720,888.00 |
| Add: Cash and cash equivalents, beginning of the period | 52,092,981,748.00 | 64,382,037,764.00 |
| 6. Cash and cash equivalents, end of the period | 57,956,802,361.00 | 60,588,316,876.00 |
6. Cash Flow Statement of the Company as the Parent
Unit: RMB
| Item | H1 2024 | H1 2023 |
| 1. Cash flows from operating activities: | ||
| Proceeds from sale of commodities and rendering of services | 4,736,262,755.00 | 1,269,226,153.00 |
| Tax rebates | 0.00 | 0.00 |
| Cash generated from other operating activities | 1,295,071,133.00 | 392,751,073.00 |
| Subtotal of cash generated from operating activities | 6,031,333,888.00 | 1,661,977,226.00 |
| Payments for commodities and services | 591,872,773.00 | 492,729,509.00 |
| Cash paid to and for employees | 778,512,264.00 | 757,624,819.00 |
| Taxes paid | 474,145,522.00 | 245,139,284.00 |
| Cash used in other operating activities | 463,827,508.00 | 1,064,303,277.00 |
| Subtotal of cash used in operating activities | 2,308,358,067.00 | 2,559,796,889.00 |
| Net cash generated from/used in operating activities | 3,722,975,821.00 | -897,819,663.00 |
| 2. Cash flows from investing activities: | ||
| Proceeds from disinvestment | 2,795,442,821.00 | 8,005,131.00 |
| Return on investment | 1,455,553,947.00 | 886,073,757.00 |
| Net proceeds from the disposal of fixed assets, intangible assets and other long-lived assets | 147,709.00 | 8,482.00 |
| Net proceeds from the disposal of subsidiaries and other business units | 0.00 | 0.00 |
| Cash generated from other investing activities | 2,380,713,721.00 | 813,908,196.00 |
| Subtotal of cash generated from investing activities | 6,631,858,198.00 | 1,707,995,566.00 |
| Payments for the acquisition of fixed assets, intangible assets and other long-lived assets | 116,197,241.00 | 512,646,566.00 |
| Payments for investments | 3,793,135,158.00 | 3,309,208,139.00 |
| Net payments for the acquisition of subsidiaries and other business units | 0.00 | 0.00 |
| Cash used in other investing activities | 5,020,000,000.00 | 8,239,614,905.00 |
| Subtotal of cash used in investing activities | 8,929,332,399.00 | 12,061,469,610.00 |
| Net cash generated from/used in investing activities | -2,297,474,201.00 | -10,353,474,044.00 |
| 3. Cash flows from financing activities: | ||
| Capital contributions received | 0.00 | 0.00 |
| Borrowings raised | 11,485,500,000.00 | 4,700,000,000.00 |
| Cash generated from other financing activities | 1,000,000,000.00 | 15,400,000,000.00 |
| Subtotal of cash generated from financing activities | 12,485,500,000.00 | 20,100,000,000.00 |
| Repayment of borrowings | 7,549,200,000.00 | 3,319,000,000.00 |
| Interest and dividends paid | 1,829,552,535.00 | 3,124,115,362.00 |
| Cash used in other financing activities | 1,505,984,733.00 | 6,024,923,290.00 |
| Subtotal of cash used in financing activities | 10,884,737,268.00 | 12,468,038,652.00 |
| Net cash generated from/used in financing activities | 1,600,762,732.00 | 7,631,961,348.00 |
| 4. Effect of foreign exchange rates changes on cash and cash equivalents | 3,451,653.00 | 28,438,446.00 |
| 5. Net increase in cash and cash equivalents | 3,029,716,005.00 | -3,590,893,913.00 |
| Add: Cash and cash equivalents, beginning of the period | 4,249,329,821.00 | 7,111,879,033.00 |
| 6. Cash and cash equivalents, end of the period | 7,279,045,826.00 | 3,520,985,120.00 |
7. Consolidated Statements of Changes in Owners’ Equity
H1 2024
Unit: RMB
| Item | H1 2024 | ||||||||||||||
| Equity attributable to owners of the Company as the parent | Non-controlling interests | Total owners’ equity | |||||||||||||
| Share capital | Other equity instruments | Capital reserves | Less: Treasury stock | Other comprehensive income | Specific reserve | Surplus reserves | General reserve | Retained earnings | Other | Subtotal | |||||
| Preferred shares | Perpetual bonds | Other | |||||||||||||
| 1. Balance as at the end of the period of prior year | 37,652,529,195.00 | 0.00 | 2,043,402,946.00 | 0.00 | 52,113,580,746.00 | 462,036,240.00 | -1,136,997,224.00 | 66,472,402.00 | 3,571,778,635.00 | 0.00 | 35,579,576,607.00 | 0.00 | 129,428,307,067.00 | 68,370,379,252.00 | 197,798,686,319.00 |
| Add: Adjustment for change in accounting policy | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Adjustment for correction of previous error | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other adjust | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| ments | |||||||||||||||
| 2. Balance as at the beginning of the Reporting Period | 37,652,529,195.00 | 0.00 | 2,043,402,946.00 | 0.00 | 52,113,580,746.00 | 462,036,240.00 | -1,136,997,224.00 | 66,472,402.00 | 3,571,778,635.00 | 0.00 | 35,579,576,607.00 | 0.00 | 129,428,307,067.00 | 68,370,379,252.00 | 197,798,686,319.00 |
| 3. Increase/ decrease in the period (“-” for decrease) | -2,547,779.00 | - | -35,287,671.00 | - | 94,337,324.00 | -233,903,606.00 | -73,688,451.00 | 54,206,616.00 | - | - | 1,134,836,866.00 | - | 1,405,760,511.00 | 1,318,586,012.00 | 2,724,346,523.00 |
| 3.1 Total comprehensive income | - | - | - | - | - | - | -59,116,865.00 | - | - | - | 2,284,051,354.00 | - | 2,224,934,489.00 | -521,407,349.00 | 1,703,527,140.00 |
| 3.2 Capital increased and reduced by owners | -2,547,779.00 | - | - | - | 76,770,363.00 | -231,158,640.00 | - | - | - | - | - | - | 305,381,224.00 | 2,101,597,454.00 | 2,406,978,678.00 |
| 3.2.1 Ordinary shares increased by | - | - | - | - | - | - | - | - | - | - | - | - | - | 2,095,409,000.00 | 2,095,409,000.00 |
| owners | |||||||||||||||
| 3.2.2 Capital increased by holders of other equity instruments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| 3.2.3 Share-based payments included in owners’ equity | - | - | - | - | 80,207,317.00 | -225,173,907.00 | - | - | - | - | - | - | 305,381,224.00 | 6,188,454.00 | 311,569,678.00 |
| 3.2.4 Other | -2,547,779.00 | 0.00 | 0.00 | 0.00 | -3,436,954.00 | -5,984,733.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 3.3 Profit distribution | 0.00 | 0.00 | -35,287,671.00 | 0.00 | 0.00 | -2,744,966.00 | 0.00 | 0.00 | 0.00 | 0.00 | -1,163,786,074.00 | 0.00 | -1,196,328,779.00 | -64,130,153.00 | -1,260,458,932.00 |
| 3.3.1 Appropriation to surplus reserves | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 3.3.2 Appropriation to genera | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| l reserve | |||||||||||||||
| 3.3.3 Appropriation to owners (or shareholders) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -2,744,966.00 | 0.00 | 0.00 | 0.00 | 0.00 | -1,129,073,743.00 | 0.00 | -1,126,328,777.00 | -64,130,153.00 | -1,190,458,930.00 |
| 3.3.4 Other | 0.00 | 0.00 | -35,287,671.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -34,712,331.00 | 0.00 | -70,000,002.00 | 0.00 | -70,000,002.00 |
| 3.4 Transfers within owners’ equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -14,571,586.00 | 0.00 | 0.00 | 0.00 | 14,571,586.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 3.4.1 Increase in capital (or share capital) from capital reserves | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 3.4.2 Increase in capital (or share capital) from surplus reserves | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 3.4.3 Loss offset by surplus reserves | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 3.4.4 Changes in defined benefit schemes transferred to retained earnings | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 3.4.5 Other comprehensive incom | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -14,571,586.00 | 0.00 | 0.00 | 0.00 | 14,571,586.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| e transferred to retained earnings | |||||||||||||||
| 3.4.6 Other | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 3.5 Specific reserve | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 54,206,616.00 | 0.00 | 0.00 | 0.00 | 0.00 | 54,206,616.00 | 10,714,104.00 | 64,920,720.00 |
| 3.5.1 Increase in the period | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 100,870,034.00 | 0.00 | 0.00 | 0.00 | 0.00 | 100,870,034.00 | 22,848,633.00 | 123,718,667.00 |
| 3.5.2 Used in the period | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 46,663,418.00 | 0.00 | 0.00 | 0.00 | 0.00 | 46,663,418.00 | 12,134,529.00 | 58,797,947.00 |
| 3.6 Other | - | - | - | - | 17,566,961.00 | - | - | - | - | - | - | - | 17,566,961.00 | -208,188,044.00 | -190,621,083.00 |
| 4. Balance as at the end of the Reporting Period | 37,649,981,416.00 | - | 2,008,115,275.00 | - | 52,207,918,070.00 | 228,132,634.00 | -1,210,685,675.00 | 120,679,018.00 | 3,571,778,635.00 | - | 36,714,413,473.00 | - | 130,834,067,578.00 | 69,688,965,264.00 | 200,523,032,842.00 |
H1 2023
Unit: RMB
| Item | H1 2023 | ||
| Equity attributable to owners of the Company as the parent | Non- | Total owners’ | |
| Share capital | Other equity instruments | Capital reserves | Less: Treasury stock | Other comprehensive income | Specific reserve | Surplus reserves | General reserve | Retained earnings | Other | Subtotal | controlling interests | equity | |||
| Preferred shares | Perpetual bonds | Other | |||||||||||||
| 1. Balance as at the end of the period of prior year | 38,196,363,421.00 | 0.00 | 8,176,366,808.00 | 0.00 | 55,218,504,392.00 | 3,508,201,911.00 | -1,073,768,030.00 | 0.00 | 3,241,063,934.00 | 0.00 | 35,829,351,680.00 | 0.00 | 136,079,680,294.00 | 65,960,886,731.00 | 202,040,567,025.00 |
| Add: Adjustment for change in accounting policy | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Adjustment for correction of previous error | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other adjustments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 2. Balance as at the beginning of the Reporting | 38,196,363,421.00 | 0.00 | 8,176,366,808.00 | 0.00 | 55,218,504,392.00 | 3,508,201,911.00 | -1,073,768,030.00 | 0.00 | 3,241,063,934.00 | 0.00 | 35,829,351,680.00 | 0.00 | 136,079,680,294.00 | 65,960,886,731.00 | 202,040,567,025.00 |
| Period | |||||||||||||||
| 3. Increase/ decrease in the period (“-” for decrease) | -10,298,610.00 | 0.00 | -6,168,251,533.00 | 0.00 | 107,839,888.00 | -316,197,626.00 | 292,974,279.00 | 56,260,433.00 | 117,522.00 | 0.00 | -1,642,763,597.00 | 0.00 | -7,047,923,992.00 | -989,516,326.00 | -8,037,440,318.00 |
| 3.1 Total comprehensive income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 294,149,500.00 | 0.00 | 0.00 | 0.00 | 735,809,609.00 | 0.00 | 1,029,959,109.00 | -2,293,594,996.00 | -1,263,635,887.00 |
| 3.2 Capital increased and reduced by owners | -10,298,610.00 | 0.00 | -5,967,915,094.00 | 0.00 | 90,695,386.00 | -299,023,729.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -5,588,494,589.00 | 1,357,218,378.00 | -4,231,276,211.00 |
| 3.2.1 Ordinary shares increased by owners | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1,345,108,348.00 | 1,345,108,348.00 |
| 3.2.2 Capital increased by holders of other | 0.00 | 0.00 | -5,967,915,094.00 | 0.00 | -32,084,906.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -6,000,000,000.00 | 0.00 | -6,000,000,000.00 |
| equity instruments | |||||||||||||||
| 3.2.3 Share-based payments included in owners’ equity | 0.00 | 0.00 | 0.00 | 0.00 | 171,294,839.00 | -240,210,572.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 411,505,411.00 | 12,110,030.00 | 423,615,441.00 |
| 3.2.4 Other | -10,298,610.00 | 0.00 | 0.00 | 0.00 | -48,514,547.00 | -58,813,157.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 3.3 Profit distribution | 0.00 | 0.00 | -200,336,439.00 | 0.00 | 0.00 | -17,173,897.00 | 0.00 | 0.00 | 0.00 | 0.00 | -2,379,630,905.00 | 0.00 | -2,562,793,447.00 | -73,637,385.00 | -2,636,430,832.00 |
| 3.3.1 Appropriation to surplus reserves | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 3.3.2 Appropriation to general reserve | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 3.3.3 Appropriation to owners (or | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -17,173,897.00 | 0.00 | 0.00 | 0.00 | 0.00 | -2,296,367,344.00 | 0.00 | -2,279,193,447.00 | -73,637,385.00 | -2,352,830,832.00 |
| shareholders) | |||||||||||||||
| 3.3.4 Other | 0.00 | 0.00 | -200,336,439.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -83,263,561.00 | 0.00 | -283,600,000.00 | 0.00 | -283,600,000.00 |
| 3.4 Transfers within owners’ equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -1,175,221.00 | 0.00 | 117,522.00 | 0.00 | 1,057,699.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 3.4.1 Increase in capital (or share capital) from capital reserves | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 3.4.2 Increase in capital (or share capital) from surplus reserves | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 3.4.3 Loss offset by surplus | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| reserves | |||||||||||||||
| 3.4.4 Changes in defined benefit schemes transferred to retained earnings | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 3.4.5 Other comprehensive income transferred to retained earnings | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -1,175,221.00 | 0.00 | 117,522.00 | 0.00 | 1,057,699.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 3.4.6 Other | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 3.5 Specific reserve | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 56,260,433.00 | 0.00 | 0.00 | 0.00 | 0.00 | 56,260,433.00 | 10,322,148.00 | 66,582,581.00 |
| 3.5.1 Increase in | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 97,538,621.00 | 0.00 | 0.00 | 0.00 | 0.00 | 97,538,621.00 | 19,966,628.00 | 117,505,249.00 |
| the period | |||||||||||||||
| 3.5.2 Used in the period | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 41,278,188.00 | 0.00 | 0.00 | 0.00 | 0.00 | 41,278,188.00 | 9,644,480.00 | 50,922,668.00 |
| 3.6 Other | 0.00 | 0.00 | 0.00 | 0.00 | 17,144,502.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 17,144,502.00 | 10,175,529.00 | 27,320,031.00 |
| 4. Balance as at the end of the Reporting Period | 38,186,064,811.00 | 0.00 | 2,008,115,275.00 | 0.00 | 55,326,344,280.00 | 3,192,004,285.00 | -780,793,751.00 | 56,260,433.00 | 3,241,181,456.00 | 0.00 | 34,186,588,083.00 | 0.00 | 129,031,756,302.00 | 64,971,370,405.00 | 194,003,126,707.00 |
8. Statements of Changes in Owners’ Equity of the Company as the Parent
H1 2024
Unit: RMB
| Item | H1 2024 | |||||||||||
| Share capital | Other equity instruments | Capital reserves | Less: Treasury stock | Other comprehensive income | Specific reserve | Surplus reserves | Retained earnings | Other | Total owners’ equity | |||
| Preferred shares | Perpetual bonds | Other | ||||||||||
| 1. Balance as at the end of the period of prior year | 37,652,529,195.00 | 0.00 | 2,043,402,946.00 | 0.00 | 51,741,820,724.00 | 462,036,240.00 | -296,433,056.00 | 0.00 | 3,571,778,635.00 | 7,186,134,196.00 | 0.00 | 101,437,196,400.00 |
| Add: Adjustment for | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| change in accounting policy | ||||||||||||
| Adjustment for correction of previous error | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other adjustments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 2. Balance as at the beginning of the Reporting Period | 37,652,529,195.00 | 0.00 | 2,043,402,946.00 | 0.00 | 51,741,820,724.00 | 462,036,240.00 | -296,433,056.00 | 0.00 | 3,571,778,635.00 | 7,186,134,196.00 | 0.00 | 101,437,196,400.00 |
| 3. Increase/ decrease in the period (“-” for decrease) | -2,547,779.00 | 0.00 | -35,287,671.00 | 0.00 | 83,129,475.00 | -233,903,606.00 | -41,074,397.00 | 0.00 | 0.00 | 54,666,943.00 | 0.00 | 292,790,177.00 |
| 3.1 Total comprehensive income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -41,074,397.00 | 0.00 | 0.00 | 1,218,453,017.00 | 0.00 | 1,177,378,620.00 |
| 3.2 Capital increased and reduced by owners | -2,547,779.00 | 0.00 | 0.00 | 0.00 | 82,958,828.00 | -231,158,640.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 311,569,689.00 |
| 3.2.1 Ordinary shares increased by owners | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 3.2.2 Capital increased by holders of other equity instruments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 3.2.3 Share-based payments included in owners’ equity | 0.00 | 0.00 | 0.00 | 0.00 | 86,395,782.00 | -225,173,907.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 311,569,689.00 |
| 3.2.4 Other | -2,547,779.00 | 0.00 | 0.00 | 0.00 | -3,436,954.00 | -5,984,733.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 3.3 Profit distribution | 0.00 | 0.00 | -35,287,671.00 | 0.00 | 0.00 | -2,744,966.00 | 0.00 | 0.00 | 0.00 | -1,163,786,074.00 | 0.00 | -1,196,328,779.00 |
| 3.3.1 Appropriation to surplus reserves | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 3.3.2 Appropriation to owners (or shareholders) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -2,744,966.00 | 0.00 | 0.00 | 0.00 | -1,129,073,743.00 | 0.00 | -1,126,328,777.00 |
| 3.3.3 Other | 0.00 | 0.00 | -35,287,671.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -34,712,331.00 | 0.00 | -70,000,002.00 |
| 3.4 Transfers within owners’ equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 3.4.1 Increase in capital (or share capital) from capital reserves | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 3.4.2 Increase in capital | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| (or share capital) from surplus reserves | ||||||||||||
| 3.4.3 Loss offset by surplus reserves | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 3.4.4 Changes in defined benefit schemes transferred to retained earnings | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 3.4.5 Other comprehensive income transferred to retained earnin | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| gs | ||||||||||||
| 3.4.6 Other | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 3.5 Specific reserve | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 3.5.1 Increase in the period | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 3.5.2 Used in the period | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 3.6 Other | 0.00 | 0.00 | 0.00 | 0.00 | 170,647.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 170,647.00 |
| 4. Balance as at the end of the Reporting Period | 37,649,981,416.00 | 0.00 | 2,008,115,275.00 | 0.00 | 51,824,950,199.00 | 228,132,634.00 | -337,507,453.00 | 0.00 | 3,571,778,635.00 | 7,240,801,139.00 | 0.00 | 101,729,986,577.00 |
H1 2023
Unit: RMB
| Item | H1 2023 | |||||||||||
| Share capital | Other equity instruments | Capital reserves | Less: Treasury stock | Other comprehensive income | Specific reserve | Surplus reserves | Retained earnings | Other | Total owners’ equity | |||
| Preferred shares | Perpetual bonds | Other | ||||||||||
| 1. Balance as at the end of | 38,196,363,421.00 | 0.00 | 8,176,366,808.00 | 0.00 | 53,693,627,213.00 | 3,508,201,911.00 | 340,345.00 | 0.00 | 3,241,063,934.00 | 6,624,620,470.00 | 0.00 | 106,424,180,280.00 |
| the period of prior year | ||||||||||||
| Add: Adjustment for change in accounting policy | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Adjustment for correction of previous error | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other adjustments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 2. Balance as at the beginning of the Reporting Period | 38,196,363,421.00 | 0.00 | 8,176,366,808.00 | 0.00 | 53,693,627,213.00 | 3,508,201,911.00 | 340,345.00 | 0.00 | 3,241,063,934.00 | 6,624,620,470.00 | 0.00 | 106,424,180,280.00 |
| 3. Increase/ decrease in the period (“-” for | -10,298,610.00 | 0.00 | -6,168,251,533.00 | 0.00 | 102,805,416.00 | -316,197,626.00 | 24,189,635.00 | 0.00 | 117,522.00 | -861,852,725.00 | 0.00 | -6,597,092,669.00 |
| decrease) | ||||||||||||
| 3.1 Total comprehensive income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 25,364,856.00 | 0.00 | 0.00 | 1,516,720,481.00 | 0.00 | 1,542,085,337.00 |
| 3.2 Capital increased and reduced by owners | -10,298,610.00 | 0.00 | -5,967,915,094.00 | 0.00 | 102,805,416.00 | -299,023,729.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -5,576,384,559.00 |
| 3.2.1 Ordinary shares increased by owners | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 3.2.2 Capital increased by holders of other equity instruments | 0.00 | 0.00 | -5,967,915,094.00 | 0.00 | -32,084,906.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -6,000,000,000.00 |
| 3.2.3 Share-based payments included in owner | 0.00 | 0.00 | 0.00 | 0.00 | 183,404,869.00 | -240,210,572.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 423,615,441.00 |
| s’ equity | ||||||||||||
| 3.2.4 Other | -10,298,610.00 | 0.00 | 0.00 | 0.00 | -48,514,547.00 | -58,813,157.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 3.3 Profit distribution | 0.00 | 0.00 | -200,336,439.00 | 0.00 | 0.00 | -17,173,897.00 | 0.00 | 0.00 | 0.00 | -2,379,630,905.00 | 0.00 | -2,562,793,447.00 |
| 3.3.1 Appropriation to surplus reserves | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 3.3.2 Appropriation to owners (or shareholders) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -17,173,897.00 | 0.00 | 0.00 | 0.00 | -2,296,367,344.00 | 0.00 | -2,279,193,447.00 |
| 3.3.3 Other | 0.00 | 0.00 | -200,336,439.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -83,263,561.00 | 0.00 | -283,600,000.00 |
| 3.4 Transfers within owners’ equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -1,175,221.00 | 0.00 | 117,522.00 | 1,057,699.00 | 0.00 | 0.00 |
| 3.4.1 Increase in capital (or share capital) from | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| capital reserves | ||||||||||||
| 3.4.2 Increase in capital (or share capital) from surplus reserves | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 3.4.3 Loss offset by surplus reserves | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 3.4.4 Changes in defined benefit schemes transferred to retained earnings | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 3.4.5 Other compr | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -1,175,221.00 | 0.00 | 117,522.00 | 1,057,699.00 | 0.00 | 0.00 |
| ehensive income transferred to retained earnings | ||||||||||||
| 3.4.6 Other | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 3.5 Specific reserve | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 3.5.1 Increase in the period | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 3.5.2 Used in the period | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 3.6 Other | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 4. Balance as at the end of the Reporting Period | 38,186,064,811.00 | 0.00 | 2,008,115,275.00 | 0.00 | 53,796,432,629.00 | 3,192,004,285.00 | 24,529,980.00 | 0.00 | 3,241,181,456.00 | 5,762,767,745.00 | 0.00 | 99,827,087,611.00 |
III Company Profile
BOE Technology Group Company Limited (the “Company”) is a company limited by shares established on 9 April 1993 in Beijing,with its head office located at Beijing. The controlling shareholder of the Company and the Company’s actual controller is BeijingElectronics Holdings Co., Ltd. (“Electronics Holdings”).The Company and its subsidiaries (referred to as the “Group”) comprise five main business segments: display business, Internet ofThings (IoT) innovation business, sensor business, MLED business, smart medicine engineering business and others. For informationabout the subsidiaries of the Company, refer to Note X.IV Basis for the Preparation of Financial Statements
1. Preparation Basis
The financial statements have been prepared on the basis of going concern.
2. Continuing Operations
The Company had the continuing operations ability within 12 months since the end of the Reporting Period.
V Significant Accounting Policies and Estimates
Reminder of the specific accounting policies and estimates:
Naught
1. Statement of Compliance with the Accounting Standards for Business EnterprisesThe financial statements have been prepared in accordance with the requirements of Accounting Standards for Business Enterprisesissued by the Ministry of Finance (hereinafter referred to as MOF). These financial statements present truly and completely theconsolidated financial position and financial position as of 30 June 2024, the consolidated results of operations and results of operationsand the consolidated cash flows and cash flows in the first half year of 2024 of the Company.These financial statements also comply with the disclosure requirements of “Regulation on the Preparation of Information Disclosuresby Companies Issuing Securities, No. 15: General Requirements for Financial Reports” as revised by the China Securities RegulatoryCommission (“CSRC”) in 2023.
2. Accounting period
The accounting year of the Group is from January 1
st to June 30
st
.
3. Operating Cycle
The Company regarded the period from purchasing the assets for processing to realizing the cash or cash equivalents as the normaloperating cycle. The operating cycle of the main business of the Company usually is less than 12 months.
4. Recording Currency
The Company’s functional currency is Renminbi. These financial statements are presented in Renminbi. The basis of choosing thefunctional currency for the Company and its subsidiaries is that it’s the pricing and settlement currency for the main business. Somesubsidiaries of the Company adopt the currency other than RMB as the recording currency. The Company translates the foreigncurrency financial statement of subsidiaries when compiling the financial statement in accordance with V Significant AccountingPolicies and Estimates-10. Foreign Currency Businesses and Translation of Foreign Currency Financial Statements.
5. Method Used to Determine the Materiality Threshold and the Basis for Selection
? Applicable □ Not applicable
| Item | Materiality threshold |
| Significant receivables for which provisions for bad and doubtful are individually assessed recoveries or reversals and written-offs | Amount of the individual accounts receivable ≥ RMB50 million |
| Significant prepayments, contract liabilities, accounts payable and other payables with ageing of more than one year | Amount of the individual prepayments exceeds 0.5% of the Group’s total assets |
| Significant construction projects in progress | Accumulated carrying amount of individual item at the end of the period exceeds RMB10 billion |
| Significant non-wholly-owned subsidiaries，joint ventures or associates | Total assets of non-wholly-owned subsidiaries exceed 10% of the Group’s total assets or total revenue of non-wholly-owned subsidiaries exceed 10% of the Group’s total revenue |
| Significant capitalised R&D projects | Accumulated expenditure of individual R&D project exceeds 0.5% of the Group’s total assets |
6. Accounting Treatments for a Business Combination Involving Entities Under and those not UnderCommon Control
(1) Business combination involving entities under common control
A business combination involving enterprises under common control is a business combination in which all of the combiningenterprises are ultimately controlled by the same party or parties both before and after the business combination, and that control is nottransitory. The assets and liabilities obtained are measured at the carrying amounts as recorded by the enterprise being combined at thecombination date. The difference between the carrying amount of the net assets obtained and the carrying amount of consideration paidfor the combination (or the total face value of shares issued) is adjusted to share premium in the capital reserve. If the balance of sharepremium is insufficient, any excess is adjusted to retained earnings. Other direct expenses occur when the Group conducting businesscombinations is recognized in current profit and loss. The combination date is the date on which one combining enterprise effectivelyobtains control of the other combining enterprises.
(2) Business combinations involving entities not under common control
A business combination involving entities not under common control is a business combination in which all of the combining entitiesare not ultimately controlled by the same party or parties both before and after the business combination. When the Group acts as thecombination party, the cost of a business combination paid by the acquirer is the aggregate of the fair value at the acquisition date ofassets given (including share equity of the acquiree held before the combination date), liabilities incurred or assumed, and equitysecurities issued by the acquirer. Any excess of the cost of a business combination over the acquirer’s interest in the fair value of theacquiree’s identifiable net assets is recognized as goodwill, while any excess of the acquirer’s interest in the fair value of the acquiree’sidentifiable net assets over the cost of a business combination is recognized in profit or loss. The cost of equity securities or liabilitysecurities as on combination consideration offering is recognized in initial recording capital on equity securities or liability securities.Other direct expenses occur when the Group conducting business combinations is recognized in current profit and loss. The differencebetween the fair value and the carrying amount of the assets given is recognized in profit or loss. The Group, at the acquisition date,
recognized the acquiree’s identifiable asset, liabilities and contingent liabilities at their fair value at that date. The acquisition date isthe date on which the acquirer effectively obtains control of the acquiree.In a business combination not under same control realized by two or more transactions of exchange, for the equities of the purchasesheld before the purchase date, the Group will execute the remeasurement according to the fair value of the equity on the purchase datewith the difference between the fair value and its book value be recorded in the current investment income or other comprehensiveincome. The other comprehensive income which could be reclassified in the gains and losses afterwards under the measurement of theequity method and the changes of the equities of the other owners that involved with the afterwards equity of the purchases held beforethe purchase date should be transferred in the current investment income. When the equity in the acquiree held before the acquisitiondate is the investment in equity instrument at fair value through other comprehensive income, the other comprehensive incomerecognized before the acquisition date shall be transferred into retained earnings on the acquisition date.
7. Criterion of Control and Preparation Methods for Consolidated Financial Statements
(1) General principle
The scope of consolidated financial statements is determined on the base of control, which comprise the Company and its subsidiaries.The term “control” is the power of the Group upon an investee, with which it can take part in relevant activities of the investee to obtainvariable returns and is able to influence the amount of returns. When judging whether the Group owns the right on the investees or not,the Group only considers the substantive rights related to the investees (including the substantive rights enjoyed by the Group itselfand by the other parties). The financial status, operating results and cash flow of subsidiaries are included in the consolidated financialstatements from the date that control commences until the date that control ceases.Equity, profit or loss attributable to minority shareholders is presented separately under the item of shareholders’ equity in consolidatedincome statement and the net profits in the consolidated income statement.If current loss shoulder by minority shareholders of a subsidy over the proportion enjoyed by minority shareholders in a subsidy atowners’ equity at period-begin, its balance still offset minority shareholders’ equity.When the accounting period or accounting policies of a subsidiary are different from those of the Company, the Company makesnecessary adjustments to the financial statements of the subsidiary based on the Company’s own accounting period or accountingpolicies. Intra-group balances and transactions, and any unrealized profit or loss arising from intra-group transactions, are eliminatedin preparing the consolidated financial statements. Unrealized losses resulting from intra-group transactions are eliminated in the sameway as unrealized gains but only to the extent that there is no evidence of impairment.
(2) Acquiring the subsidiaries from merger
Where a subsidiary was acquired during the Reporting Period, through a business combination involving entities under common control,the financial statements of the subsidiary are included in the consolidated financial statements based on book value in the consolidatedbalance sheet of the subsidiary’s assets, liabilities and results of operations as if the combination had occurred at the date that commoncontrol was established. Therefore the opening balances and the comparative figures of the consolidated financial statements arerestated.Where a subsidiary was acquired during the Reporting Period, through a business combination involving entities not under commoncontrol, when prepared the consolidated financial statements, the Company shall included the acquired subsidiaries into theconsolidated scope from the acquisition date basing on the fair value of the identifiable assets, liabilities at the acquisition date.
(3) Disposing the subsidiaries
Where the control of former subsidiary was lost, any disposal profit or loss occurred shall be recorded into the investment incomeduring the period of losing control right. As for remaining equity investment, the Group will re-account it according to the fair valueat the date the control was lost. Any profit or loss occurred shall be recorded into the investment income during the period of losingcontrol right.
Where the Group losses control on its original subsidiaries due to step by step disposal of equity investments through multipletransactions, should judge whether is the package deal according to the following principles:
- These deals are at the same time or under the condition of considering the influence of each other to concluded;- These transactions only when be regarded as a whole could achieve a complete business result;- The occurrence of a deal depends on at least one other transactions；- A deal alone is not economical, it is economical with other trading together.If each deal not belongs to a package deal, as for each deal before losing the control right on the subsidiaries, should be disposedaccording to the accounting policies of partly disposing the equity investment of the subsidiaries under the situation not losing thecontrol right.If each deal belongs to a package deal, considered as a transaction and conduct accounting treatment, however, before losing control,the differences between every disposal cost and the shares of the book value of the corresponding net assets continuously calculatedsince the purchase date of the subsidiary of disposal investment are confirmed as other comprehensive income in consolidated financialstatements, which together transferred into the current profits and losses in the loss of control , when the Group losing control on itssubsidiary.
(4) Changes of non-controlling interests
Where the Company acquires a minority interest from a subsidiary’s minority shareholders or disposes of a portion of an interest in asubsidiary without a change in control, the difference between the amount by which the minority interests are adjusted and the amountof the consideration paid or received is adjusted to the capital reserve (share premium) in the consolidated balance sheet. If the creditbalance of capital reserve (share premium) is insufficient, any excess is adjusted to retained earnings.
8. Classification of Joint Arrangements and Accounting Treatment of Joint Operations
A joint arrangement refers to an arrangement jointly controlled by two participants or above and all the participants are restricted bythe arrangement; and two or more participants execute the jointly control on the arrangement. Any of the participant should notindividually control the arrangement, while any of the participant that owns the jointly control could stop other participants or theparticipants group from individually control the arrangement.Joint arrangements divided into joint operations and joint ventures. A joint operation refers to a joint arrangement where the participantparty enjoys assets and has to bear liabilities related to the arrangement. A joint venture refers to a joint arrangement where theparticipant party is only entitled to the net assets of the arrangement.In joint operations, the participant party should confirm the following items related to the interests portion among the jointly operationand execute the accounting treatment according to the regulations of the relevant ASBE: recognizes the assets and liabilities that itholds and bears in the joint operation, and recognizes the jointly-held assets and jointly-borne liabilities according to the Group’s stakein the joint operation; recognizes the income from sale of the Group’s share in the output of the joint operation; recognizes the incomefrom sale of the joint operation’s outputs according to the Group’s stake in it; and recognizes the expense solely incurred to the Groupand the expense incurred to the joint operation according to the Group’s stake in it.
9. Recognition Standard for Cash and Cash Equivalents
In the Group’s understanding, cash and cash equivalents include cash on hand, any deposit that can be used for cover, and short-termand high circulating investments, which are easily convertible into known amount of cash and whose risks in change of value areminimal.
10. Foreign Currency Businesses and Translation of Foreign Currency Financial StatementsWhen the Group receives capital in foreign currencies from investors, the capital is translated to Renminbi at the spot exchange rate atthe date of the receipt. Other foreign currency transactions are, on initial recognition, translated to Renminbi at the spot exchange ratesat the dates of the transactions.Monetary items denominated in foreign currencies are translated to Renminbi at the spot exchange rate at the balance sheet date. Theresulting exchange differences are recognized in profit or loss, except those arising from the principals and interests on foreign currencyborrowings specifically for the purpose of acquisition, construction of qualifying assets. Non-monetary items denominated in foreigncurrencies that are measured at historical cost are translated to Renminbi using the foreign exchange rate at the transaction date. Non-monetary items denominated in foreign currencies that are measured at fair value are translated using the foreign exchange rate at thedate the fair value is determined; the exchange differences, if it’s the difference arising from the non-monetary item of non-transactionalequity investments designated to be measured at fair value and changes thereof recorded into other comprehensive income, it shall beconsidered as other comprehensive income; other differences shall be recognized in current profit or loss.The assets and liabilities of foreign operation are translated to Renminbi at the spot exchange rate at the balance sheet date. The equityitems, excluding “Retained earning” and “Difference arising from translation of foreign currency financial statements in othercomprehensive income”, are translated to Renminbi at the spot exchange rates at the transaction dates. The income and expenses offoreign operation are translated to Renminbi at rates that approximate the spot exchange rates at the transaction dates. The resultingexchange differences are listed in other comprehensive income. Upon disposal of a foreign operation, the cumulative amount of theexchange differences recognized in equity which relates to that foreign operation is transferred to profit or loss in the period in whichthe disposal occurs.
11. Financial instruments
Financial instruments of the Group include monetary assets, bond investments, equity investments other than long-term equityinvestments, accounts receivable, accounts payable, borrowings, bonds payable, share capital, etc.
(1) Recognition and initial measurement of financial assets and financial liabilities
A financial asset or financial liability is recognised in the balance sheet when the Group becomes a party to the contractual provisionsof a financial instrument.Financial assets and financial liabilities are measured initially at fair value. For financial assets and financial liabilities at fair valuethrough profit or loss, any related directly attributable transaction costs are charged to profit or loss; for other categories of financialassets and financial liabilities, any related directly attributable transaction costs are included in their initial costs. A trade receivablewithout a significant financing component is initially measured at the transaction price according to Accounting Standards for BusinessEnterprises No.14-Revenue.
(2) Classification and subsequent measurement of financial assets
(a) Classification of financial assetsThe classification of financial assets is generally based on the business model in which a financial asset is managed and its contractualcash flow characteristics. On initial recognition, a financial asset is classified as measured at amortised cost, at fair value through othercomprehensive income (“FVOCI”), or at fair value through profit or loss (“FVTPL”).Financial assets are not reclassified subsequent to their initial recognition unless the Group changes its business model for managingfinancial assets in which case all affected financial assets are reclassified on the first day of the first reporting period following thechange in the business model.A financial asset is measured at amortised cost if it meets both of the following conditions and is not designated as at FVTPL:
- it is held within a business model whose objective is to hold assets to collect contractual cash flows; and- its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal
amount outstanding.A debt investment is measured at FVOCI if it meets both of the following conditions and is not designated as at FVTPL:
- it is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets;and- its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principalamount outstanding.
On initial recognition of an equity investment that is not held for trading, the Group may irrevocably elect to present subsequent changesin the investment’s fair value in other comprehensive income. This election is made on an investment-by-investment basis. Theinstrument meets the definition of equity from the perspective of the issuer.
All financial assets not classified as measured at amortised cost or FVOCI as described above are measured at FVTPL. On initialrecognition, the Group may irrevocably designate a financial asset that otherwise meets the requirements to be measured at amortisedcost or at FVOCI as at FVTPL if doing so eliminates or significantly reduces an accounting mismatch that would otherwise arise.
The business model refers to how the Group manages its financial assets in order to generate cash flows. That is, the Group’s businessmodel determines whether cash flows will result from collecting contractual cash flows, selling financial assets or both. The Groupdetermines the business model for managing the financial assets according to the facts and based on the specific business objective formanaging the financial assets determined by the Group’s key management personnel.
In assessing whether the contractual cash flows are solely payments of principal and interest, the Group considers the contractual termsof the instrument. For the purposes of this assessment, ‘principal’ is defined as the fair value of the financial asset on initial recognition.‘Interest’ is defined as consideration for the time value of money and for the credit risk associated with the principal amount outstandingduring a particular period of time and for other basic lending risks and costs, as well as a profit margin. The Group also assesses whetherthe financial asset contains a contractual term that could change the timing or amount of contractual cash flows such that it would notmeet this condition.
(b) Subsequent measurement of financial assets
- Financial assets at FVTPL
These financial assets are subsequently measured at fair value. Net gains and losses, including any interest or dividend income, arerecognised in profit or loss unless the financial assets are part of a hedging relationship.
- Financial assets at amortised cost
These assets are subsequently measured at amortised cost using the effective interest method. A gain or loss on a financial asset that ismeasured at amortised cost and is not part of a hedging relationship shall be recognised in profit or loss when the financial asset isderecognised, reclassified, through the amortisation process or in order to recognise impairment gains or losses.
- Debt investments at FVOCI
These assets are subsequently measured at fair value. Interest income calculated using the effective interest method, impairment andforeign exchange gains and losses are recognised in profit or loss. Other net gains and losses are recognised in other comprehensive
income. On derecognition, gains and losses accumulated in other comprehensive income are reclassified to profit or loss.
- Equity investments at FVOCI
These assets are subsequently measured at fair value. Dividends are recognised as income in profit or loss. Other net gains and lossesare recognised in other comprehensive income. On derecognition, gains and losses accumulated in other comprehensive income arereclassified to retained earnings.
(3) Classification and subsequent measurement of financial liabilities
Financial liabilities are classified as measured at FVTPL or amortised cost.
- Financial liabilities at FVTPL
A financial liability is classified as at FVTPL if it is classified as held-for-trading (including derivative financial liability) or it isdesignated as such on initial recognition.
Financial liabilities at FVTPL are subsequently measured at fair value and net gains and losses, including any interest expense, arerecognised in profit or loss, unless the financial liabilities are part of a hedging relationship.
- Financial liabilities at amortised cost
These financial liabilities are subsequently measured at amortised cost using the effective interest method.
(4) Offsetting
Financial assets and financial liabilities are generally presented separately in the balance sheet, and are not offset. However, a financialasset and a financial liability are offset and the net amount is presented in the balance sheet when both of the following conditions aresatisfied:
- The Group currently has a legally enforceable right to set off the recognised amounts；- The Group intends either to settle on a net basis, or to realise the financial asset and settle the financial liability simultaneously.
(5) Derecognition of financial assets and financial liabilities
Financial asset is derecognised when one of the following conditions is met:
- the Group’s contractual rights to the cash flows from the financial asset expire;- the financial asset has been transferred and the Group transfers substantially all of the risks and rewards of ownership of thefinancial asset; or；- the financial asset has been transferred, although the Group neither transfers nor retains substantially all of the risks and rewardsof ownership of the financial asset, it does not retain control over the transferred asset.
Where a transfer of a financial asset in its entirety meets the criteria for derecognition, the difference between the two amounts below
is recognised in profit or loss:
- the carrying amount of the financial asset transferred measured at the date of derecognition;- the sum of the consideration received from the transfer and, when the transferred financial asset is a debt investment at FVOCI,any cumulative gain or loss that has been recognised directly in other comprehensive income for the part derecognised.
The Group derecognises a financial liability (or part of it) only when its contractual obligation (or part of it) is extinguished.
(6) Impairment
The Group recognises loss allowances for expected credit loss (ECL) on:
- financial assets measured at amortised cost;- contract assets;- debt investments at FVOCI;- lease accounts receivable
Financial assets measured at fair value, including debt investments or equity securities at FVTPL, equity securities designated at FVOCIand derivative financial assets, are not subject to the ECL assessment.
Measurement of ECLs
ECLs are a probability-weighted estimate of credit losses. Credit losses are measured as the present value of all cash shortfalls (i.e. thedifference between the cash flows due to the entity in accordance with the contract and the cash flows that the Group expects to receive).
The maximum period considered when estimating ECLs is the maximum contractual period (including extension options) over whichthe Group is exposed to credit risk.
Lifetime ECLs are the ECLs that result from all possible default events over the expected life of a financial instrument.
12-month ECLs are the portion of ECLs that result from default events that are possible within the 12 months after the balance sheetdate (or a shorter period if the expected life of the instrument is less than 12 months).
Loss allowances for bills receivable, accounts receivable, receivables under financing and contract assets arising from ordinary businessactivities such as sale of goods and provision of services, as well as lease receivables arising from lease transactions are alwaysmeasured at an amount equal to lifetime ECLs. ECLs on these financial assets are estimated using a provision matrix based on theGroup’s historical credit loss experience, adjusted for factors that are specific to the debtors and an assessment of both the current andforecast general economic conditions at the balance sheet date.
Except for bills receivable, accounts receivable, receivables under financing, contract assets, and lease receivables, the Group measuresloss allowances at an amount equal to 12-month ECLs for the following financial instruments, and at an amount equal to lifetime ECLsfor all other financial instruments:
- If the financial instrument is determined to have low credit risk at the balance sheet date;- If the credit risk on a financial instrument has not increased significantly since initial recognition.
Provisions for bad and doubtful debts arising from receivables
(a) Categories of groups for collective assessment based on credit risk characteristics and basis for determination
| Item | Basis for determination |
| Bills receivable | Based on the different credit risk characteristics of acceptors, the Group classifies bills receivable into two groups: bank acceptance bills and commercial acceptance bills. |
| Accounts receivable | Historically, there is no significant difference in terms of occurrence of losses among different customer types for the Group. Therefore, the Group classifies accounts receivable into three groups, specifically: receivables from customers with high credit risk, receivables from customers with low credit risk and receivables from customers with medium credit risk. |
| Receivables under financing | The Group’s receivables under financing are bank acceptance bills held for dual purposes. As the accepting banks have high credit ratings, the Group considers all receivables under financing as a single group. |
| Other receivables | The Group’s other receivables mainly include cash pledges and deposits receivable, petty cash receivables due from employees, receivables due from related parties, dividends receivable, etc. Based on the nature of receivables and the credit risk characteristics of different counterparties, the Group classifies other receivables into three groups, specifically: customers with high credit risk, customers with low credit risk and customers with medium credit risk. |
| Contract assets | Historically, there is no significant difference in terms of occurrence of losses among different customer types for the Group. Therefore, the Group makes provisions for bad and doubtful debts arising from contract assets on the basis of all customers being one group without further segmentation by different customer types. |
(b) Criteria for determining the bad debt provision based on individual items
For notes receivables, accounts receivables, financing receivables, other receivables, and contract assets, the Group measured the lossreserves based on the credit risk characteristic portfolio. If the credit risk characteristics of a certain counterparty are significantlydifferent from other counterparties in the portfolio, or if there is a significant change in the credit risk characteristics of that counterparty,a loss provision is made on an individual basis for the receivable from that counterparty. For instance, when a counterparty experiencessevere financial difficulties and the expected credit loss rate for the receivable from that counterparty is significantly higher than theexpected credit loss rate for that counterparty's age group, a specific provision for loss is made for that counterparty.
Financial instruments that have low credit risk
The credit risk on a financial instrument is considered low if the financial instrument has a low risk of default, the borrower has a strongcapacity to meet its contractual cash flow obligations in the near term and adverse changes in economic and business conditions in thelonger term may, but will not necessarily, reduce the ability of the borrower to fulfil its contractual cash flow obligations.
Significant increases in credit risk
In assessing whether the credit risk of a financial instrument has increased significantly since initial recognition, the Group comparesthe risk of default occurring on the financial instrument assessed at the balance sheet date with that assessed at the date of initialrecognition.
When determining whether the credit risk of a financial asset has increased significantly since initial recognition and when estimatingECL, the Group considers reasonable and supportable information that is relevant and available without undue cost or effort, includingforward-looking information. In particular, the following information is taken into account:
- failure to make payments of principal or interest on their contractually due dates;
- an actual or expected significant deterioration in a financial instrument’s external or internal credit rating (if available);- an actual or expected significant deterioration in the operating results of the debtor; and- existing or forecast changes in the technological, market, economic or legal environment that have a significant adverse effect onthe debtor’s ability to meet its obligation to the Group.
Depending on the nature of the financial instruments, the assessment of a significant increase in credit risk is performed on either anindividual basis or a collective basis. When the assessment is performed on a collective basis, the financial instruments are groupedbased on shared credit risk characteristics, such as past due status and credit risk ratings.
The Group assumes that the credit risk on a financial asset has increased significantly if it is more than 30 days past due.Credit-impaired financial assets
At each balance sheet date, the Group assesses whether financial assets carried at amortised cost and debt investments at FVOCI arecredit-impaired. A financial asset is ‘credit-impaired’ when one or more events that have a detrimental impact on the estimated futurecash flows of the financial asset have occurred. Evidence that a financial asset is credit-impaired includes the following observabledata:
- significant financial difficulty of the borrower or issuer;- a breach of contract, such as a default or delinquency in interest or principal payments;- for economic or contractual reasons relating to the borrower’s financial difficulty, the Group having granted to the borrower aconcession that would not otherwise consider;- it is probable that the borrower will enter bankruptcy or other financial reorganisation; or- the disappearance of an active market for that financial asset because of financial difficulties.
Presentation of allowance for ECL
ECLs are remeasured at each balance sheet date to reflect changes in the financial instrument’s credit risk since initial recognition. Anychange in the ECL amount is recognised as an impairment gain or loss in profit or loss. The Group recognises an impairment gain orloss for all financial instruments with a corresponding adjustment to their carrying amount through a loss allowance account, exceptfor debt investments that are measured at FVOCI, for which the loss allowance is recognised in other comprehensive income.
Write-off
The gross carrying amount of a financial asset is written off (either partially or in full) to the extent that there is no realistic prospect ofrecovery. A write-off constitutes a derecognition event. This is generally the case when the Group determines that the debtor does nothave assets or sources of income that could generate sufficient cash flows to repay the amounts subject to the write-off. However,financial assets that are written off could still be subject to enforcement activities in order to comply with the Group’s procedures forrecovery of amounts due.
Subsequent recoveries of an asset that was previously written off are recognised as a reversal of impairment in profit or loss in theperiod in which the recovery occurs.
(7) Equity instrument
The consideration received from the issuance of equity instruments net of transaction costs is recognised in shareholders’ equity.
Consideration and transaction costs paid by the Company for repurchasing self-issued equity instruments are deducted fromshareholders’ equity.
When the Company repurchases its own shares, those shares are treated as treasury shares. All expenditure relating to the repurchaseis recorded in the cost of the treasury shares, with the transaction recording in the share register. Treasury shares are excluded fromprofit distributions and are presented as a deduction under shareholders’ equity in the balance sheet.
When treasury shares are cancelled, the share capital should be reduced to the extent of the total par value of the treasury sharescancelled. Where the cost of the treasury shares cancelled exceeds the total par value, the excess is deducted from capital reserve (sharepremium), surplus reserve and retained earnings sequentially. If the cost of treasury shares cancelled is less than the total par value, thedifference is credited to the capital reserve (share premium).
When treasury shares are disposed of, any excess of proceeds above cost is recognised in capital reserve (share premium); otherwise,the shortfall is deducted against capital reserve (share premium), surplus reserve and retained earnings sequentially.
(8) Perpetual bonds
At initial recognition, the Group classifies the perpetual bonds issued or their components as financial assets, financial liabilities orequity instruments based on their contractual terms and their economic substance after considering the definition of financial assets,financial liabilities and equity instruments.Perpetual bonds issued that should be classified as equity instruments are recognised in equity based on the actual amount received.Any distribution of dividends or interests during the instruments’ duration is treated as profit appropriation. When the perpetual bondsare redeemed according to the contractual terms, the redemption price is charged to equity.
12. Notes Receivable
See V Significant Accounting Policies and Estimates-11. Financial Instruments for details
13. Accounts Receivable
See V Significant Accounting Policies and Estimates-11. Financial Instruments for details
14. Accounts Receivable Financing
See V Significant Accounting Policies and Estimates-11. Financial Instruments for details
15. Other Receivables
The recognition method and accounting treatment of expected credit losses of other receivablesSee V Significant Accounting Policies and Estimates-11. Financial Instruments for details
16. Contract Assets
The Group has transferred the right to receive consideration for goods or services to customers (and this right depends on factors otherthan the passage of time) as a contractual asset.Contractual assets are impaired on the basis of expected credit losses (See V Significant Accounting Policies and Estimates-11.Financial Instruments for details).
17. Inventory
(1) Classification and cost of inventories
Inventories include raw materials, work in progress, finished goods and reusable materials. Reusable materials include low-valueconsumables, packaging materials and other materials, which can be used repeatedly but do not meet the definition of fixed assets.Inventories are initially measured by the cost. Cost of inventories comprises all costs of purchase, costs of conversion and other costs.Inventories are initially measured at their actual cost. In addition to the purchasing cost of raw materials, work in progress and finishedgoods include direct labor costs and an appropriate allocation of production overheads.
(2) Pricing method for outgoing inventories
Cost of inventories is calculated using the weighted average method.
(3) Inventory system for inventories
The Group maintains a perpetual inventory system.
(4) Amortization method for low-value consumables and packing materials
Revolving materials such as the low priced and easily worn articles and the packing materials should be amortized by adopting one-time amortization method and be recorded in the cost of the relevant assets or the current gains and losses.
(5) Recognition basis of net realizable value and withdrawal method of depreciation reserves for inventoriesOn the balance sheet day, inventories are carried at the lower of cost and net realizable value.Net realizable value is the estimated selling price in the normal course of business less the estimated costs to completion and theestimated expenses and related taxes necessary to make the sale. The net realizable value of materials held for use in the production ofinventories is measured based on the net realizable value of the finished goods in which they will be incorporated. The net realizablevalue of the quantity of inventory held to satisfy sales or service contracts is based on the contract price. If the quantities of inventoriesspecified in sales contracts are less than the quantities held by the Group, the net realizable value of the excess portion of inventoriesshall be based on general selling prices.Any excess of the cost over the net realizable value of each class of inventories is recognized as a provision for diminution in the valueof inventories, and then recorded into current profit or loss.
18. Assets Held for Sale
The Group classifies a non-current asset or disposal group as held for sale when the carrying amount of a non-current asset or disposalgroup will be recovered through a sale transaction rather than through continuing use.A disposal group refers to a group of assets to be disposed of, by sale or otherwise, together as a whole in a single transaction andliabilities directly associated with those assets that will be transferred in the transaction.The Group should divide the non-current assets (or the disposal group, that is an asset group concurrently be disposed through sellingor other methods as an entirety in a transaction and the liabilities directly related to the assets from the transfer among the transaction,the same below )which simultaneously meet with the following conditions as the assets held for sale.
– The non-current assets or disposal group could be immediately sold under the current condition in accordance with the usual termsof selling this kind of assets in similar transactions;– The sale is extremely possible that is to say, the Company has made a resolution regarding a sales planning and signed a legallybinding purchase agreement with other party, and the sale is expected to be finished within one year.The Group measures the non-current assets held for sale, deferred income tax assets and the investment properties be follow-upmeasured by the fair value mode according to the lower one between the book value and the fair value after deducting the net amountof the disposal expenses, while the deference that the book value higher than the fair value which deducted the disposal expenses shouldbe recognized as the impairment losses of the assets.
19. Investments in Debt Obligations
See V Significant Accounting Policies and Estimates-11. Financial Instruments for details
20. Other Investments in Debt Obligations
See V Significant Accounting Policies and Estimates-11. Financial Instruments for details
21. Long-term Receivables
See V Significant Accounting Policies and Estimates-11. Financial Instruments for details
22. Long-term Equity Investments
(1) Recognition of the investment cost of the long-term equity investment
(a) Long-term equity investments acquired through a business combination– The initial investment cost of a long-term equityinvestment obtained through a business combination involving entities under common control is the Company’s share of thesubsidiary’s equity at the combination date. The difference between the initial investment cost and the carrying amounts of theconsideration given is adjusted to share premium in capital reserve. If the balance of the share premium is insufficient, any excess isadjusted to retained earnings. For the long-term equity investment of the subsidiaries formed from the enterprise merger under the samecontrol that realized step by step of the multiple transaction not belong to package deal, the Company would adjust the capital stockpremium among the capital surplus according to the difference between the initial investment cost of the long-term equity investmentrecognized according to the above principles and the sum of the book value of the long-term equity investment before reaching themerger and the book value of the newly paid consideration which be further received on the merger date, and if the balance of the sharepremium is insufficient, any excess is adjusted to retained earnings.– For other long-term equity investment obtained through entities not under common control, the fair values, on the acquisition date,of the assets given, the liabilities incurred or assumed and the equity securities issued by the acquirer in exchange for the control onthe acquiree shall be recognized as initial investment cost of the long-term equity investment. For long-term equity investment obtainedthrough a business combination involving entities not under common control by two or more transactions and by several steps, theinitial investment cost is recognized as the aggregation of the carrying value of acquirees’ equity investment before the acquisition dateheld by the Company and newly investment cost at the acquisition date.(b) Long-term equity investments acquired otherwise than through a business combinationFor the Long-term equity investments acquired otherwise than through a business combination, if the long-term investment is acquiredby paying cash, the Group shall, upon initial recognition, take the purchase price actually paid as the initial investment cost ;For the long-term equity investment obtained by issuing equity securities, the Group takes the fair value of equity securities issued as
the initial investment cost.
(2) Subsequent measurement and recognition of profits or losses of the long-term equity investment(a) Investments in subsidiariesIn the Company’s financial statements, investments in subsidiaries are accounted for using the cost method, unless the investment isclassified as held for sale. Cash dividends or profit distributions declared by subsidiaries and attributed to the Company shall berecognized as investment income, without dividing whether it’s the net profit realized by the investee before the investment or afterthe investment, except those that have been declared but unpaid at the time of acquisition and therefore included in the price paid orconsideration.The investment into the subsidiaries is stated at cost less impairment losses in the balance sheet.As for the impairment testing method and impairment provisions for investments in subsidiaries, please refer to V. SignificantAccounting Policies and Estimates-30. Long-term Asset Impairment.In the Group’s consolidated financial statements, long-term equity investments in subsidiaries are treated in accordance with V.Significant Accounting Policies and Estimates-7. Preparation Method for Consolidated Financial Statements.(b) Investment in jointly controlled enterprises and associatesThe joint enterprise refers to an arrangement that the Group and other joint operation parties execute jointly control and only enjoy therights of their own net assets.An associate is an enterprise over which the Group has significant influence.Upon the subsequent measurement, an investment in a jointly controlled enterprise or an associate is accounted for using the equitymethod, unless the investment is classified as held for sale.The Group makes the following accounting treatments when using the equity method:
– Where the initial investment cost of a long-term equity investment exceeds the Group’s interest in the fair value of the investee’sidentifiable net assets at the date of acquisition, the investment is initially recognized at the initial investment cost. Where the initialinvestment cost is less than the Group’s interest in the fair value of the investee’s identifiable net assets at the date of acquisition, theinvestment is initially recognized at the investor’s share of the fair value of the investee’s identifiable net assets, and the difference ischarged to profit or loss.– After the acquisition of the investment, the Group recognizes its share of the investee’s net profits or losses after deducting theamortization of the debit balance of equity investment difference, which was recognized by the Group before the first-time adoptionof CAS, as investment income or losses, and adjusts the carrying amount of the investment accordingly. The debit balance of the equityinvestment difference is amortized using the straight-line method over a period which is determined in accordance with previousaccounting standards. Once the investee declares any cash dividends or profits distributions, the carrying amount of the investment isreduced by that attributable to the Group. As for the other changes of the owners’ equities except for the net gains and losses, othercomprehensive income and profits distribution of the joint ventures or associated enterprises (hereinafter referred to as “changes ofother owners’ equities”), the Group included which in the shareholders’ equities according to the portion ought to be enjoyed or shared,and at the same time adjust the book value of the long-term equity investment.– The Group recognizes its share of the investee’s net profits or losses, other comprehensive income and changes of other owners’equities after making appropriate adjustments to align the accounting policies or accounting periods with those of the Group based onthe fair values of the investee’s identifiable net assets at the date of acquisition. Unrealized profits and losses resulting from transactionsbetween the Group and its associates or jointly controlled enterprises are eliminated to the extent of the Group’s interest in the associatesor jointly controlled enterprises. Unrealized losses resulting from transactions between the Group and its associates or jointly controlledenterprises are eliminated in the same way as unrealized gains but only to the extent that there is no evidence of impairment.– The Group discontinues recognizing its share of net losses of the investee after the carrying amount of the long-term equity investmentand any long-term interest that in substance forms part of the Group’s net investment in the associate or the jointly controlled enterpriseis reduced to zero, except to the extent that the Group has an obligation to assume additional losses. Where net profits are subsequently
made by the associate or jointly controlled enterprise, the Group resumes recognizing its share of those profits only after its share ofthe profits equals the share of losses not recognized.As for the impairment testing method and impairment provisions for investments in joint ventures and associated enterprises, pleaserefer to V. Significant Accounting Policies and Estimates-30. Long-term Asset Impairment.
(3) The basis for determination of joint control or significant influence over investee enterpriseJoint control refers to the control jointly owned on certain arrangement according to relevant agreement and the relevant activities ofthe arrangement (which are the activities cause significant influences on the arrangement) could only execute the decision-makingthrough the unanimous consent of the parties sharing control.The following evidences shall be considered when determining whether the Group can exercise joint control over an investee:
? No single venture is in a position to control the operating activities unilaterally;? Operating decisions relating to the investee’s economic activity require the unanimous consent of the parties sharing control.Significant influence is the power to participate in the financial and operating policy decisions of an investee but is not control or jointcontrol over those policies.
23. Investment Property
Measurement model for investment propertyCost measurementMethod of depreciation and amortizationThe Company classified its real estate held for earning rents or capital appreciation or for both into the investment property. TheCompany applied the cost model to measure the investment real estate. Namely, it would be presented in the Balance Sheet throughdeducting the accumulated depreciation, amortization and the depreciation reserves from the costs. Besides, the Company wouldcalculate and withdraw or amortize the investment real estate by using the straight-line method within the service life through deductingthe predicted net residual value and the accumulated provision reserves from the costs, unless the investment real estate could meetcorresponding held-for-sale conditions. See See V Significant Accounting Policies and Estimates-30. Impairment of Long-term Assetsfor details about methods for impairment testing and impairment provision.The life time, residual rate and yearly depreciation of various investment properties are respectively as follows:
| Item | Life time | Residual rate | Yearly depreciation |
| Land use right | 32-50 years | 0% | 2%-3.1% |
| Houses and buildings | 20-40 years | 0%-10% | 2.3%-5% |
24. Fixed Assets
(1) Conditions for Recognition
Fixed assets represent the tangible assets held by the Group for use in the production of goods or supply of services for rental to othersor for operation and administrative purposes with useful lives over one year.The cost of a purchased fixed asset comprises the purchase price, related taxes, and any directly attributable expenditure for bringingthe asset to working condition for its intended use.The cost of self-constructed assets is measured in accordance with the policy set out in Note V. Significant Accounting Policies andEstimates-25. Construction in Progress.Where parts of an item of fixed assets have different useful lives or provide benefits to the Group in different patterns thus necessitatinguse of different depreciation rates or methods, each part is recognized as a separate fixed asset.The subsequent costs, including the cost of replacing part of an item of fixed assets, are recorded into fixed asset cost when the economicinterests related to costs may flow into the Group, and the carrying amount of the replaced part is derecognized. The costs of the day-to-day servicing of fixed assets are recognized in profit or loss as incurred.
Fixed assets are stated in the balance sheet at cost less accumulated depreciation and impairment losses.
(2) Depreciation Methods
The cost of a fixed asset, less its estimated residual value and accumulated impairment losses, is depreciated using the straight-linemethod over its estimated useful life, unless the fixed asset is classified as held for sale.The estimated useful lives, residual value rates and depreciation rates of each class of fixed assets are as follows:
| Category of fixed assets | Depreciation method | Depreciable life | Residual value rate (%) | Yearly depreciation |
| Houses and buildings | Straight-line method | 10-50 years | 3%-10% | 1.8%-9.7% |
| Equipments | Straight-line method | 2-25 years | 0-10% | 3.6%-50% |
| Others | Straight-line method | 2-10 years | 0-10% | 9.0%-50% |
Useful lives, residual values and depreciation methods are reviewed at least at each year-end.
25. Construction in Progress
The cost of the self-constructed fixed asset including the engineering materials, direct labor, borrowing expenses met with thecapitalization condition (refer to V. Significant Accounting Policies and Estimates-26. Borrowing Costs) and the necessary expenseshappened before the assets reach the expected available state.
When the self-constructed fixed asset reaches the available state, should transfer into the fixed assets, before which should be listedamong the construction in progress and not withdraw the depreciation.
The criteria according to which, construction projects in progress are transferred to fixed assets:
| Category | Criteria for the transfers to fixed assets |
| Plant and buildings | Satisfy the acceptance criteria and be available for its predetermined readiness for use |
| Machinery and equipment | Installation and commissioning are qualified, and be available for its predetermined readiness for use? |
26. Borrowing Costs
Borrowing costs incurred directly attributable to the acquisition and construction of a qualifying asset are capitalized as part of the costof the asset. Other borrowing costs are recognised as financial expenses when incurred.During the capitalisation period, the amount of interest (including amortisation of any discount or premium on borrowing) to becapitalised in each accounting period is determined as follows:
-Where funds are borrowed specifically for the acquisition and construction of a qualifying asset, the amount of interest to be capitalisedis the interest expense calculated using effective interest rates during the period less any interest income earned from depositing theborrowed funds or any investment income on the temporary investment of those funds before being used on the asset.-To the extent that the Group borrows funds generally and uses them for the acquisition and construction of a qualifying asset, theamount of borrowing costs eligible for capitalisation is determined by applying a capitalisation rate to the weighted average of theexcess amounts of cumulative expenditure on the asset over the above amounts of specific borrowings. The capitalisation rate is theweighted average of the interest rates applicable to the general-purpose borrowings.The effective interest rate is determined as the rate that exactly discounts estimated future cash flow through the expected life of theborrowing or, when appropriate, a shorter period to the initially recognised amount of the borrowings.During the capitalisation period, exchange differences related to the principal and interest on a specific-purpose borrowing denominatedin foreign currency are capitalised as part of the cost of the qualifying asset. The exchange differences related to the principal andinterest on foreign currency borrowings other than a specific-purpose borrowing are recognised as a financial expense when incurred.The capitalisation period is the period from the date of commencement of capitalisation of borrowing costs to the date of cessation ofcapitalisation, excluding any period over which capitalisation is suspended. Capitalisation of borrowing costs commences whenexpenditure for the asset is being incurred, borrowing costs are being incurred and activities of acquisition and construction that arenecessary to prepare the asset for its intended use are in progress, and ceases when the assets become ready for their intended use.When the parts of the qualifying assets acquired or constructed that are eligible for capitalisation are completed separately, and eachpart is available for use in other parts of the construction process or can be sold externally, and for the purpose of making the parts ofthe assets ready for use or necessary for the sales status, the acquisition or construction activities have been substantially completed,the Group ceases the capitalization of the borrowing costs related to the parts of the assets. Capitalisation of borrowing costs issuspended when the acquisition and construction activities are interrupted abnormally for a period of more than three months.
27. Living Assets
Naught
28. Oil and Gas Assets
Naught
29. Intangible Assets
(1) Service life and its basis for determination, estimate, amortization method or review procedure
Intangible assets are stated in the balance sheet at cost less accumulated amortisation (where the estimated useful life is finite) andimpairment losses (see 30. Long-term asset impairment under V. Significant Accounting Policies and Accounting Estimates).As for the intangible assets with limited useful life, after deducting the salvage of the cost and the impairment provision, the Groupamortized the intangible assets through straight line method within the expected service life, unless the intangible assets are classifiedas held for sale.The estimated useful lives, basis for determination and amortisation methods of intangible assets are as follows:
| Item | Estimated useful life (years) | Basis for determination | Amortisation method |
| Land use rights | 20 - 50 years | Terms of land use rights? | Straight-line method? |
| Patents and know-how | 5 - 20 years | Terms of patents | Straight-line method?? |
| Computer software | 3 - 10 years | ?Estimated useful life | Straight-line method?? |
| Others | 5 - 20 years | Estimated useful life? | Straight-line method?? |
Useful lives and amortisation methods of intangible asset with finite useful life are reviewed at least at each year-end. An intangibleasset is regarded as having an indefinite useful life and is not amortized when there is no foreseeable limit to the period over which theasset is expected to generate economic benefits for the Group. At the balance sheet date, the Group doesn’t have any intangible assetswith indefinite useful lives.
(2) The scope of research and development expenditures
a. The basis for the classification of internal R&D projects under the research phase and the development phase
- The phase of planned investigations to acquire new techniques and knowledge should be identified as the research phase, whichis characterised by, among other things, a planned and exploratory approach.
- The phase of applying research results or other knowledge to a plan or design to produce new or substantially improved materials,devices, products, etc., prior to commercial production or use, shall be identified as the development phase, which is characterised byits relevance and greater likelihood of generating results.
b. Specific criteria for dividing the research phase and development phase of internal research and development projects:
Expenditure on the development phase is recognized as an intangible asset only if the following conditions are met simultaneously:
- The completion of the intangible assets makes it technically feasible for using or selling;- There is the intention to complete and use or sell the intangible assets;- The way in which an intangible asset generates economic benefits, including the proof that the products produced with the intangibleassets can be sold in a market or the proof of its usefulness if the intangible assets can be sold in a market and will be used internally;- There are sufficient technical, financial resources and other resources to support the development of the intangible assets and theability to use or sell the intangible assets;- Expenditure attributable to the development stage of intangible assets can be measured reliably.
30. Impairment of Long-term Assets
The carrying amounts of the following assets are reviewed at each balance sheet date based on internal and external sources ofinformation to determine whether there is any indication of impairment:
- fixed assets- construction in progress- right-of-use assets- intangible assets- investment properties measured using a cost model- long-term equity investments- goodwill- long-term deferred expenses, etc.
If any indication exists, the recoverable amount of the asset is estimated. In addition, the Group estimates the recoverable amounts ofgoodwill at each year-end, irrespective of whether there is any indication of impairment. Goodwill is allocated to each asset group orset of asset groups, which is expected to benefit from the synergies of the combination for the purpose of impairment testing.
The recoverable amount of an asset (or asset group, set of asset groups) is the higher of its fair value less costs to sell and its presentvalue of expected future cash flows.
An asset group is composed of assets directly related to cash generation and is the smallest identifiable group of assets that generatescash inflows that are largely independent of the cash inflows from other assets or asset groups.
The present value of expected future cash flows of an asset is determined by discounting the future cash flows, estimated to be derivedfrom continuing use of the asset and from its ultimate disposal, to their present value using an appropriate pre-tax discount rate.
An impairment loss is recognised in profit or loss when the recoverable amount of an asset is less than its carrying amount. A provisionfor impairment of the asset is recognised accordingly. Impairment losses related to an asset group or a set of asset groups are allocatedfirst to reduce the carrying amount of any goodwill allocated to the asset group or set of asset groups, and then to reduce the carryingamount of the other assets in the asset group or set of asset groups on a pro rata basis. However, such allocation would not reduce thecarrying amount of an asset below the highest of its fair value less costs to sell (if measurable), its present value of expected future cashflows (if determinable) and zero.
Once an impairment loss is recognised, it is not reversed in a subsequent period.
31. Long-term Deferred Expenses
Long-term deferred expenses are amortized on a straight-line method within the benefit period:
| Item | Amortization period (years) |
| Royalty paid in advance | 1-11 years |
| Cost of construction and use of public facilities | 10-15 years |
| Cost of operating lease assets improvement | 2-10 years |
| Others | 2-10 years |
32. Contract Liabilities
The Group's obligations to transfer goods or services to customers for consideration received or receivable from customers are presentedas contract liabilities.
33. Payroll
(1) Accounting Treatment of Short-term Compensation
During the accounting period of an employee' providing services, the Group recognizes the actual occurred or withdrawn worker wages,bonuses and the social insurance charges such as the medical insurance premiums, industrial injury insurance premium and birthinsurance premium according to the specified benchmark and proportion as well as the housing funds as the liabilities and recordswhich in the current gains and losses or the relevant asset costs.
(2) Accounting Treatment of the Welfare after Demission
a. Post-employment benefits – defined contribution plansThe defined contribution plans participated by the Group including: the basic endowment insurance and unemployment insuranceamong the social security system set up and managed by the government institutions according to the requirements of the relevantChinese regulations of the employees of the Group and the corporation pension plan approved and set up by the relevant departmentsaccording to the relevant policies of the state enterprise annuity system. The payment amount of the basic endowment insurance andthe unemployment insurance should be calculated according to the benchmark and the proportion stipulated by the nation. Theenterprise annuity should be withdrawn according to the certain proportion of the total amount of the worker wages of the employeesvoluntarily participated in the pension plan.During the accounting period of the employees providing the service, the Company recognizes the deposited amount as the liabilitiesand records in the current gains and losses or the relevant asset costs.b. Post-employment benefits – defined benefit plansDuring the reporting period, the Group did not have defined benefit plans.
(3) Accounting Treatment of the Demission Welfare
The Group relieves the labor relations with the employees before the maturity of the labor contracts or puts forward the advice forcompensation for encouraging the employees voluntarily accept the reduction, and recognizes the liabilities caused from the demissionwelfare on the earlier date of the followings and at the same time records which in the current gains and losses:
? When the Group could not unilaterally withdraw the demission welfare provided owning to the termination of the labor relations orthe reduction advice:
? The Group owns specific and formal reorganization plan that concerning the payment of the demission welfare; and the time whenthe reorganization plan had been executed or had announced the main content of the plan to the parties influenced by which, then ledall parties formed the rational expectations about the Group is going to execute the reorganization.
(4) Accounting Treatment of the Welfare of Other Long-term Staffs
The Group not involved with any other long-term employee's welfare.
34. Provisions
A provision is recognized for an obligation related to a contingency if the Group has a present obligation that can be estimated reliably,and it is probable that an outflow of economic benefits will be required to settle the obligation.The estimated liabilities should be executed the initial measurement according to the best estimated number needed to be spent whencaring out the relevant current obligations. As for those with significant influences on the time value of money, the estimated liabilities
should be confirmed according to the amount after the discount of the estimated future cash flow. When recognizing the best estimatednumber, the Group comprehensively considers the factors such as the risks, uncertainty and the time value of money related to thecontingencies. There is a contiguous range of the needed expenses and the possibility of various results within the range is the sameand the best estimated number should be recognized according to the mediant within the range; under other circumstance, the bestestimated number should be handled respectively according to the following situations:
? If the contingencies involve with a single item, should be recognized according to the most likely happened amount.? If the contingencies involve with various items, should be recognized according to the calculation of various possible results and therelevant probabilities.The Group executes the reexamination of the book value of the estimated liabilities on the balance sheet date and adjusts the bookvalue according to the current best estimated number.
35. Share-based Payment
(1) Classification of share-based payments
Share-based payment transactions in the Group are equity-settled share-based payments.
(2) Accounting treatment of share-based payments
- Equity-settled share-based payments
Where the Group uses shares or other equity instruments as consideration for services received from the employees, the payment ismeasured at the fair value of the equity instruments granted to the employees at the grant date. If the equity instruments granted do notvest until the completion of services for a period, or until the achievement of a specified performance condition, the Group recognisesan amount at each balance sheet date during the vesting period based on the best estimate of the number of equity instruments expectedto vest according to the newly obtained subsequent information of the changes of the number of the employees expected to vest theequity instruments. The Group measures the services received at the grant-date fair value of the equity instruments and recognises thecosts or expenses as the services are received, with a corresponding increase in capital reserve.
36. Other Financial Instruments such as Preferred Shares and Perpetual BondsSee V Significant Accounting Policies and Estimates-11. Financial Instruments for details.
37. Revenue
Accounting policies for recognition and measurement of revenue disclosed according to business typesRevenue is the gross inflow of economic benefits arising in the course of the Group’s ordinary activities when the inflows result inincrease in shareholders’ equity, other than increase relating to contributions from shareholders.
Revenue is recognised when the Group satisfies the performance obligation in the contract by transferring the control over relevantgoods or services to the customers.Where a contract has two or more performance obligations, the Group determines the stand-alone selling price at contract inception ofthe distinct good or service underlying each performance obligation in the contract and allocates the transaction price in proportion tothose stand-alone selling prices. The Group recognises as revenue the amount of the transaction price that is allocated to eachperformance obligation. The stand-alone selling price is the price at which the Group would sell a promised good or service separatelyto a customer. If a stand-alone selling price is not directly observable, the Group considers all information that is reasonably available
to the entity, maximises the use of observable inputs to estimate the stand-alone selling price.
For the contract which the Group grants a customer the option to acquire additional goods or services (such as, loyalty points, discountcoupons for future purchase, etc.,), the Group assesses whether the option provides a material right to the customer. If the optionprovides a material right, the Group recognises the option as a performance obligation, and recognises revenue when those future goodsor services are transferred or when the option expires. If the stand-alone selling price for a customer’s option to acquire additionalgoods or services is not directly observable, the Group estimates it, taking into account all relevant information, including the differencein the discount that the customer would receive when exercising the option or without exercising the option, and the likelihood that theoption will be exercised.
For the contract with a warranty, the Group analyses the nature of the warranty provided, if the warranty provides the customer with adistinct service in addition to the assurance that the product complies with agreed-upon specifications, the Group recognises for thepromised warranty as a performance obligation. Otherwise, the Group accounts for the warranty in accordance with the requirementsof CAS No.13 – Contingencies.
The transaction price is the amount of consideration to which the Group expects to be entitled in exchange for transferring promisedgoods or services to a customer, excluding amounts collected on behalf of third parties. The Group recognises the transaction priceonly to the extent that it is highly probable that a significant reversal in the amount of cumulative revenue recognised will not occurwhen the uncertainty associated with the variable consideration is subsequently resolved. To determine the transaction price forcontracts in which a customer promises consideration in a form other than cash, the Group measures the non-cash consideration at fairvalue. If the Group cannot reasonably estimate the fair value of the non-cash consideration, the Group measures the considerationindirectly by reference to the stand-alone selling price of the goods or services promised to the customer in exchange for theconsideration. Where the contract contains a significant financing component, the Group recognises the transaction price at an amountthat reflects the price that a customer would have paid for the promised goods or services if the customer had paid cash for those goodsor services when (or as) they transfer to the customer. The difference between the amount of promised consideration and the cashselling price is amortised using an effective interest method over the contract term. The Group does not adjust the consideration forany effects of a significant financing component if it expects, at contract inception, that the period between when the Group transfersa promised good or service to a customer and when the customer pays for that good or service will be one year or less.The Group satisfies a performance obligation over time if one of the following criteria is met; or otherwise, a performance obligationis satisfied at a point in time:
- the customer simultaneously receives and consumes the benefits provided by the Group’s performance as the Group performs;- the customer can control the asset created or enhanced during the Group’s performance; or- the Group’s performance does not create an asset with an alternative use to it and the Group has an enforceable right to paymentfor performance completed to date.
For performance obligation satisfied over time, the Group recognises revenue over time by measuring the progress towards completesatisfaction of that performance obligation. When the outcome of that performance obligation cannot be measured reasonably, but theGroup expects to recover the costs incurred in satisfying the performance obligation, the Group recognises revenue only to the extentof the costs incurred until such time that it can reasonably measure the outcome of the performance obligation.
For performance obligation satisfied at a point in time, the Group recognises revenue at the point in time at which the customer obtains
control of relevant goods or services. To determine whether a customer has obtained control of goods or services, the Group considersthe following indicators:
- the Group has a present right to payment for the goods or services;- the Group has transferred physical possession of the goods to the customer;- the Group has transferred the legal title of the goods or the significant risks and rewards of ownership of the goods to the customer;and- the customer has accepted the goods or services.
The Group determines whether it is a principal or an agent, depending on whether it obtains control of the specified good or servicebefore that good or service is transferred to a customer. The Group is a principal if it controls the specified good or service before thatgood or service is transferred to a customer, and recognises revenue in the gross amount of consideration to which it has received (orreceivable). Otherwise, the Group is an agent, and recognises revenue in the amount of any fee or commission to which it expects tobe entitled. The fee or commission is the net amount of consideration that the Group retains after paying the other party the consideration,or is the established amount or proportion.
For the sale of a product with a right of return, the Group recognises revenue when the Group obtains control of that product, in theamount of consideration to which the Group expects to be entitled in exchange for the product transferred (i.e. excluding the amountof which expected to be returned), and recognises a refund liability for the products expected to be returned. Meanwhile, an asset isrecognised in the amount of carrying amount of the product expected to be returned less any expected costs to recover those products(including potential decreases in the value of returned products), and carry forward to cost in the amount of carrying amount of thetransferred products less the above costs. At the end of each reporting period, the Group updates its assessment of future sales return.If there is any change, it is accounted for as a change in accounting estimate.The Group determines whether the licence transfers to a customer either at a point in time or over time. If all of the following criteriaare met, revenue is recognised for performance obligations satisfied over time. Otherwise, revenue is recognised for performanceobligations satisfied at a point in time.
- the contract requires, or the customer reasonably expects, that the Group will undertake activities that significantly affect theintellectual property to which the customer has rights;- the rights granted by the licence directly expose the customer to any positive or negative effects of the Group’s activities; and- those activities do not result in the transfer of a good or a service to the customer as those activities occur.
The Group recognises revenue for a sales-based or usage-based royalty promised in exchange for a licence of intellectual property onlywhen (or as) the later of the following events occurs:
- the subsequent sale or usage occurs; and- the performance obligation has been satisfied (or partially satisfied).
For a change in the scope or price of a contract that is approved by the parties to the contract, the Group accounts for the contractmodification according to the following situations:
- The addition of promised goods or services are distinct and the price of the contract increases by an amount of considerationreflects stand-alone selling prices of the additional promised goods or services, the Group shall account for a contract modification asa separate contract.
- If the above criteria are not met, and the remaining goods or services are distinct from the goods or services transferred on thedate of the contract modification, the Group accounts for the contract modification as if it were a termination of the existing contractand the creation of a new contract.
- If the above criteria are not met, and the remaining goods or services are not distinct from the goods or services transferred onthe date of the contract modification, the Group accounts for the contract modification as if it were a part of the existing contract. Theeffect that the contract modification has on the revenue is recognised as an adjustment to revenue in the reporting period.
A contract asset is the Group’s right to consideration in exchange for goods or services that it has transferred to a customer when thatright is conditional on something other than the passage of time. The Group recognises loss allowances for expected credit loss oncontract assets (See V Significant Accounting Policies and Estimates-11. Financial Instruments for details). Accounts receivable is theGroup’s right to consideration that is unconditional (only the passage of time is required). A contract liability is the Group’s obligationto transfer goods or services to a customer for which the Group has received consideration (or an amount of consideration is due) fromthe customer.Different business models for the same type of business involve different revenue recognition and measurement methodsThe following is the description of accounting policies regarding revenue from the Group’s principal activities:
(1) Sale of goods
The sales contracts/orders signed between the Group and its customers usually contain various trading terms. Depending on the tradingterms, customers obtain control of the goods when the goods are delivered and received, or when they are received by the carrier.Revenue of sale of goods is recognised at that point in time.
For the transfer of goods with a right of return, revenue is recognised to the extent that it is highly probable that a significant reversalin the amount of cumulative revenue recognised will not occur. Therefore, the amount of revenue recognised is adjusted for the amountexpected to be returned, which are estimated based on the historical data. The Group recognises a refund liability based on the amountexpected to be returned. An asset is initially measured by reference to the former carrying amount of the product expected to be returnedless any expected costs to recover those products (including potential decreases in the value to the Group of returned products). Ateach balance sheet date, the Group updates the measurement of the refund liability for changes in expectations about the amount offunds. The above asset and liability are adjusted accordingly.
(2) Rendering of services
The Group recognises the revenue from rendering of services within a certain period of time according to the progress of theperformance as the customer simultaneously receives and consumes the benefits provided by the Group’s performance as the Groupperforms. Otherwise, for performance obligation satisfied at a point in time, the Group recognises revenue at the point in time at whichthe customer obtains control of relevant services.
38. Contract Costs
Contract costs are either the incremental costs of obtaining a contract with a customer or the costs to fulfil a contract with a customer.
Incremental costs of obtaining a contract are those costs that the Group incurs to obtain a contract with a customer that it would nothave incurred if the contract had not been obtained. The Group recognises as an asset the incremental costs of obtaining a contract witha customer if it expects to recover those costs. Other costs of obtaining a contract are expensed when incurred.
If the costs to fulfil a contract with a customer are not within the scope of inventories or other accounting standards, the Grouprecognises an asset from the costs incurred to fulfil a contract only if those costs meet all of the following criteria:
- the costs relate directly to an existing contract or to a specifically identifiable anticipated contract, including direct labour, directmaterials, allocations of overheads (or similar costs), costs that are explicitly chargeable to the customer and other costs that are incurredonly because the Group entered into the contract- the costs generate or enhance resources of the Group that will be used in satisfying (or in continuing to satisfy) performanceobligations in the future; and- the costs are expected to be recovered.
Assets recognised for the incremental costs of obtaining a contract and assets recognised for the costs to fulfil a contract (the “assetsrelated to contract costs”) are amortised on a systematic basis that is consistent with the transfer to the customer of the goods or servicesto which the assets relate and recognised in profit or loss for the current period.
The Group recognises an impairment loss in profit or loss to the extent that the carrying amount of an asset related to contract costsexceeds:
- remaining amount of consideration that the Group expects to receive in exchange for the goods or services to which the assetrelates; less- the costs that relate directly to providing those goods or services that have not yet been recognised as expenses.
39. Government grants
Government grants are non-reciprocal transfers of monetary or non-monetary assets from the government to the Group except forcapital contributions from the government in the capacity as an investor in the Group.A government grant is recognised when there is reasonable assurance that the grant will be received and that the Group will complywith the conditions attaching to the grant.If a government grant is in the form of a transfer of a monetary asset, it is measured at the amount received or receivable. If a governmentgrant is in the form of a transfer of a non-monetary asset, it is measured at fair value.Government grants related to assets are grants whose primary condition is that the Group qualifying for them should purchase, constructor otherwise acquire long-term assets. Government grants related to income are grants other than those related to assets.Those related to daily activities of the Company are included in other income or used to write off related cost based on the nature ofeconomic businesses, or included in non-operating income and expense in respect of those not related to daily activities of the Company.With respect to the government grants related to assets, if the Group first obtains government grants related to assets and then recognizes
the long-term assets purchased and constructed, deferred income is included in profit and loss based on a reasonable and systematicapproach by stages when related assets are initially depreciated or amortized; or the deferred income is written off against the carryingamount of the asset when the asset becomes ready for its intended status or intended use. If the Group obtains government grants relatedto the assets after relevant long-term assets are put into use, deferred income is included in profit and loss based on a reasonable andsystematic approach by stages within the remaining useful life of relevant assets, or the deferred income is written off against thecarrying amount of relevant asset when the grants are obtained; the assets shall be depreciated or amortized based on the carryingamount after being offset and the remaining useful life of relevant assets.For the government grants related to income which are used to compensate for related costs or losses of the Group in the future period,it shall be recognized as deferred income, and included in profit and loss or used to offset related costs; otherwise it shall be directlyincluded in profit and loss or used to offset related costs.In respect of the policy-based preferential loan interest subsidy obtained by the Group, if the interest subsidy is appropriated to thelending bank which shall provide loans to the Group at the policy-based preferential interest rate, the actual loan amount is used as theentry value and relevant borrowing costs are calculated on the basis of the loan principal and the preferential interest rate. If the interestsubsidy is directly appropriated to the Group, relevant borrowing costs shall be offset by corresponding interest subsidy. If borrowingcosts are capitalized as part of the cost of the asset (see Note V. Significant Accounting Policies and Estimates-26. Borrowing Costs),the interest subsidy shall be used to offset relevant asset costs.
Note: Specific criteria for asset-related government subsidies and income-related government subsidies shall be distinguished. If thegovernment document does not specify the subsidy object, the judgment basis for determining the government subsidy is asset-relatedor income-related shall be described. Whether government subsidies adopt the gross method or the net method shall be disclosed. Ifthe gross method is adopted, the amortization method of deferred income related to government subsidies and the recognition methodof the amortization period shall also be disclosed. The time when government subsidies are confirmed shall be disclosed.
40. Deferred Income Tax Assets/Deferred Income Tax Liabilities
Except for the income tax arising from business combination and transactions or events directly included in owners' equity (includingother comprehensive income), the Group would include current income tax and deferred income tax into the profit and loss for thecurrent period.Current income tax is calculated based on the taxable income for the current year, using the tax rates specified by tax laws, adjustedfor income tax payable in previous years.On the balance sheet date, when the Group has the legal right to settle on a net basis and intends to settle on a net basis or to acquireassets and settle liabilities simultaneously, the current income tax assets and current income tax liabilities are listed and reported on anet basis after offsetting.The recognition of deferred tax asset and deferred tax liabilities are subject to the deductible temporary differences and taxabletemporary differences, respectively. Temporary differences include the difference between the book value and tax base of assets andliabilities, including deductible losses that can be carried forward to future years and tax deduction. The recognition of deferred incometax assets is subject to the amount of taxable income obtained to offset the deductible temporary differences.If a single transaction is not a business combination, does not affect neither accounting profit nor taxable income (or deductible losses)upon the occurrence thereof, and the initial recognition of assets and liabilities does not result in taxable temporary differences anddeductible temporary differences of equal amounts, then the temporary differences arising from that transaction do not give rise todeferred income tax. Temporary differences arising from the initial recognition of goodwill also do not give rise to related deferredincome tax.
On the balance sheet date, the Group measures the book amounts of deferred income tax assets and liabilities based on the applicabletax rates expected to apply during the period when the asset is realized or the liability is settled, as per the enacted tax laws.On the balance sheet date, the Group reviews the book value of deferred income tax assets. If it is probable that sufficient taxableincome will not be available in future periods to offset the benefits of deferred tax assets, the carrying amount of the deferred tax assetswill be reduced. The amount of the write-down is reversed when it is probable that sufficient taxable income will be obtained.On the balance sheet date, deferred income tax assets and deferred income tax liabilities are presented as the net amount after offsettingwhen the following conditions are met at the same time:
- The taxpayer had the legal right to settle the current income tax assets and current income tax liabilities on a net basis;- Deferred income tax assets and deferred income tax liabilities were related to the income tax levied by the same tax administrationdepartment on the same taxpayer or different taxpayers, but during the period when each significant deferred income tax assets andliabilities would be reversed in the future, the involved taxpayer intended to settle the current income tax assets and liabilities on a netbasis or to acquire assets and settle liabilities at the same time.
41. Lease
(1) Accounting Treatment of Lease as Leasee
The Group recognises a right-of-use asset and a lease liability at the lease commencement date. The right-of-use asset is initiallymeasured at cost, which comprises the initial amount of the lease liability, any lease payments made at or before the commencementdate (less any lease incentives received), any initial direct costs incurred and an estimate of costs to dismantle and remove the underlyingasset or to restore the site on which it is located or restore the underlying asset to the condition required by the terms and conditions ofthe lease.The right-of-use asset is depreciated using the straight-line method. If the lessee is reasonably certain to exercise a purchase option bythe end of the lease term, the right-of-use asset is depreciated over the remaining useful lives of the underlying asset. Otherwise, theright-of-use asset is depreciated from the commencement date to the earlier of the end of the useful life of the right-of-use asset or theend of the lease term. Impairment losses of right-of-use assets are accounted for in accordance with the accounting policy described in
30. Long-term asset impairment under V. Significant Accounting Policies and Accounting Estimates.The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discountedusing the interest rate implicit in the lease or, if that rate cannot be readily determined, the Group’s incremental borrowing rate.A constant periodic rate is used to calculate the interest on the lease liability in each period during the lease term with a correspondingcharge to profit or loss or included in the cost of assets where appropriate. Variable lease payments not included in the measurementof the lease liability are charged to profit or loss or included in the cost of assets where appropriate as incurred.Under the following circumstances after the commencement date, the Group remeasures lease liabilities based on the present value ofrevised lease payments:
- there is a change in the amounts expected to be payable under a residual value guarantee;- there is a change in future lease payments resulting from a change in an index or a rate used to determine those payments;
- there is a change in the assessment of whether the Group will exercise a purchase, extension or termination option, or there is a changein the exercise of the extension or termination option.When the lease liability is remeasured, a corresponding adjustment is made to the carrying amount of the right-of-use asset, or isrecorded in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero.The Group has elected not to recognise right-of-use assets and lease liabilities for short-term leases that have a lease term of 12 monthsor less and leases of low-value assets (Individual leased assets have a lower value when they are brand new). The Group recognisesthe lease payments associated with these leases in profit or loss or as the cost of the assets where appropriate using the straight-linemethod or other systematic basis over the lease term.
(2) Accounting Treatment of Lease as Leasor
The Group determines at lease inception whether each lease is a finance lease or an operating lease. A lease is classified as a financelease if it transfers substantially all the risks and rewards incidental to ownership of an underlying asset irrespective of whether thelegal title to the asset is eventually transferred. An operating lease is a lease other than a finance lease.When the Group is a sub-lessor, it assesses the lease classification of a sub-lease with reference to the right-of-use asset arising fromthe head lease, not with reference to the underlying asset. If a head lease is a short-term lease to which the Group applies practicalexpedient described above, then it classifies the sub-lease as an operating lease.Under a finance lease, at the commencement date, the Group recognises the finance lease receivable and derecognises the finance leaseasset. The finance lease receivable is initially measured at an amount equal to the net investment in the lease. The net investment in thelease is measured at the aggregate of the unguaranteed residual value and the present value of the lease receivable that are not receivedat the commencement date, discounted using the interest rate implicit in the lease.The Group calculates and recognises interest income for each period of the lease term based on a fixed periodic interest rate. Thederecognition and impairment of the finance lease receivable are recognised in accordance with the accounting policy described in 11.Financial instruments under V. Significant Accounting Policies and Accounting Estimates. Variable lease payments not included inthe measurement of net investment in the lease are recognised as income as they are earned.
Lease receipts from operating leases are recognised as income using the straight-line method or other systematic basis over the leaseterm. The initial direct costs incurred in respect of the operating lease are initially capitalised and subsequently amortised in profit orloss over the lease term on the same basis as the lease income. Variable lease payments not included in lease receipts are recognisedas income as they are earned.
42. Other Significant Accounting Policies and Estimates
(1) Related parties
If a party has the power to control, jointly control or exercise significant influence over another party, or vice versa, or where two ormore parties are subject to common control or joint control from another party, they are considered to be related parties. Related partiesmay be individuals or enterprises. Enterprises with which the Company is under common control only from the State and that have noother related party relationships are not regarded as related parties.
In addition to the related parties stated above, the Company determines related parties based on the disclosure requirements ofAdministrative Procedures on the Information Disclosures of Listed Companies issued by the CSRC.
(2) Segment reporting
Reportable segments are identified based on operating segments which are determined based on the structure of the Group’s internalorganisation, management requirements and internal reporting system after taking the materiality principle into account. Two or moreoperating segments may be aggregated into a single operating segment if the segments have the similar economic characteristics andare same or similar in respect of the nature of each segment’s products and services, the nature of production processes, the types orclasses of customers for the products and services, the methods used to distribute the products or provide the services, and the natureof the regulatory environment.Inter-segment revenues are measured on the basis of the actual transaction prices for such transactions for segment reporting. Segmentaccounting policies are consistent with those for the consolidated financial statements.
(3) Profit distributions
Dividends or profit distributions proposed in the profit appropriation plan, which will be approved after the balance sheet date, are notrecognised as a liability at the balance sheet date, but are disclosed in the notes separately.
(4) Fair value measurement
Unless otherwise specified, the Group measures fair value as follows:
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between marketparticipants at the measurement date.When measuring fair value, the Group takes into account the characteristics of the particular asset or liability (including the conditionand location of the asset and restrictions, if any, on the sale or use of the asset) that market participants would consider when pricingthe asset or liability at the measurement date, and uses valuation techniques that are appropriate in the circumstances and for whichsufficient data and other information are available to measure fair value. Valuation techniques mainly include the market approach, theincome approach and the cost approach.
(5) Goodwill
The initial cost of goodwill represents the excess of cost of acquisition over the acquirer's interest in the fair value of the identifiablenet assets of the acquiree under a business combination not involving entities under common control.Goodwill is not amortised and is stated in the balance sheet at cost less accumulated impairment losses (see 30. Long-term assetimpairment under V. Significant Accounting Policies and Accounting Estimates). On disposal of an asset group or a set of asset groups,any attributable goodwill is written off and included in the calculation of the profit or loss on disposal.
(6) Specific reserve
The Group recognises a safety fund in the specific reserve pursuant to relevant government regulations, with a corresponding increasein the costs of the related products or expenses.When the safety fund is subsequently used for revenue expenditure, the specific reserve is reduced accordingly. When the safety fundis subsequently used for the construction or acquisition of fixed assets, the Group recognises the capitalised expenditure incurred asthe cost of the fixed assets when the related assets are ready for their intended use. In such cases, the specific reserve is reduced by theamount that corresponds to the cost of the fixed assets and the credit side is recognised in the accumulated depreciation with respect tothe related fixed assets. Consequently, such fixed assets are not depreciated in subsequent periods.
43. Changes in Significant Accounting Policies and Estimates
(1) Changes in Significant Accounting Policies
□Applicable ? Not applicable
(2) Changes in Accounting Estimates
□Applicable ? Not applicable
(3) Adjustments to Financial Statement Items at the Beginning of the Year of the First Implementation of the New AccountingStandards Implemented since 2024
□Applicable ? Not applicable
44. Others
NaughtVI. Taxation
1. Main Taxes and Tax Rate
| Category of taxes | Tax basis | Tax rate |
| VAT | Output VAT is calculated on the income from product sales, provision of taxable labor services and provision of taxable services, based on tax laws. The remaining balance of output VAT, after subtracting the deductible input VAT of the period, is VAT payable. | 6%, 9%, 13% |
| Consumption tax | Naught | Naught |
| Urban maintenance and construction tax | Based on VAT paid, VAT exemption and offset for the period | 7%, 5% |
| Enterprise income tax | Based on taxable income | 15%-30% |
| Education surcharge and local education surcharge | Based on VAT paid, VAT exemption and offset for the period | 3%, 2% |
Notes of the disclosure situation of the taxpaying bodies with different enterprises income tax rate
| Name | Income tax rate |
| BOE Technology Group Co., Ltd. | 15% |
| Beijing BOE Optoelectronics Technology Co., Ltd. | 15% |
| Chengdu BOE Optoelectronics Technology Co., Ltd. | 15% |
| Hefei BOE Optoelectronics Technology Co., Ltd. | 15% |
| Qingdao BOE Optoelectronics Technology Co., Ltd. | 15% |
| Beijing BOE Display Technology Co., Ltd. | 15% |
| Hefei Xinsheng Optoelectronics Technology Co., Ltd. | 15% |
| Erdos Yuansheng Optoelectronics Co., Ltd. | 15% |
| Chongqing BOE Optoelectronics Technology Co., Ltd. | 15% |
| BOE Mled Technology Co., Ltd. (Mled Technology) | 15% |
| Hefei BOE Ruisheng Technology Co., Ltd. | 15% |
| Hefei BOE Display Technology Co., Ltd. | 15% |
| Fuzhou BOE Optoelectronics Technology Co., Ltd. | 15% |
| Mianyang BOE Optoelectronics Technology Co., Ltd. | 15% |
| Chongqing BOE Display Technology Co., Ltd. | 15% |
| Wuhan BOE Optoelectronics Technology Co., Ltd. | 15% |
| Nanjing BOE Display Technology Co., Ltd. | 15% |
| Chengdu BOE Display Technology Co., Ltd. | 15% |
| Mianyang BOE Electronic Technology Co., Ltd. | 15% |
| Chongqing BOE Jingyuan Technology Co., Ltd. | 15% |
| Beijing BOE Tea Valley Electronic Co., Ltd. | 15% |
| Hefei BOE Display Light Source Co., Ltd. | 15% |
| Chongqing BOE Display Lighting Co., Ltd. | 15% |
| Chongqing BOE Intelligent Electronic System Co., Ltd. | 15% |
| Suzhou K-Tronics Co., Ltd. | 15% |
| BOE Jieen Texi Technology Co., Ltd. | 15% |
| Beijing BOE Vacuum Electronics Co., Ltd. | 15% |
| Beijing BOE Vacuum Technology Co., Ltd. | 15% |
| BOE Smart IoT Technology Co., Ltd. | 15% |
| Beijing Zhongxiangying Technology Co., Ltd. | 15% |
| BOE Regenerative Medical Technologies Co. Ltd. | 15% |
| Beijing BOE Health Technology Co., Ltd. | 15% |
| Zhonglian Ultra-Definition (Beijing) Techonology Co., Ltd. | 15% |
| Hefei BOE Semiconductor Co., Ltd. | 15% |
| BOE Energy Technology Co., Ltd. | 15% |
| Yunnan Chuangshijie Optoelectronics Technology Co., Ltd. | 15% |
| Chongqing BOE Electronic Technology Co., Ltd. | 15% |
| Beijing BOE Sensor Technology Co., Ltd. | 15% |
2. Tax Preference
Pursuant to the Corporate Income Tax Law of the People’s Republic of China treatment No. 28, corporate income tax for key advancedand high-tech enterprises supported by the State is applicable to a preferential tax rate of 15%.The Company shall pay enterprise income tax at a reduced tax rate of 15% between 1 January 2021 and 31 December 2030 on thepreferential income tax policies for enterprises registered in the western regions, according to the Article 1 of the Announcement No.23 of 2020 by the Ministry of Finance, State Taxation Administration, and National Development and Reform Commission.VII. Notes on Major Items in Consolidated Financial Statements of the Company
1. Cash at Bank and on Hand
Unit: RMB
| Item | Ending balance | Beginning balance |
| Cash on hand | 1,097,973.00 | 802,967.00 |
| Bank deposits | 80,812,179,244.00 | 70,593,964,639.00 |
| Other monetary assets | 1,388,863,720.00 | 1,872,625,112.00 |
| Deposits placed with finance companies | 0.00 | 0.00 |
| Total | 82,202,140,937.00 | 72,467,392,718.00 |
| Of which: Total amount deposited overseas | 7,465,911,696.00 | 6,120,969,123.00 |
Other notes:
N/A
2. Trading Financial Assets
Unit: RMB
| Item | Ending balance | Beginning balance |
| Financial assets at fair value through profit or loss | 8,413,163,737.00 | 7,755,964,495.00 |
| Of which: | ||
| Structured deposits and wealth management products | 8,220,319,994.00 | 7,476,126,776.00 |
| Equity instrument investments | 192,843,743.00 | 279,837,719.00 |
| Financial assets designated to be measured at fair value and changes | 0.00 | 0.00 |
| thereof recorded into the current profit or loss | ||
| Of which: | ||
| Total | 8,413,163,737.00 | 7,755,964,495.00 |
Other notes:
N/A
3. Derivative Financial Assets
Unit: RMB
| Item | Ending balance | Beginning balance |
| N/A | ||
| Total | 0.00 | 0.00 |
Other notes:
N/A
4. Notes Receivable
(1) Notes Receivable Listed by Category
Unit: RMB
| Item | Ending balance | Beginning balance |
| Bank acceptance bill | 410,274,588.00 | 342,699,932.00 |
| Commercial acceptance bill | 19,781,142.00 | 32,877,079.00 |
| Total | 430,055,730.00 | 375,577,011.00 |
(2) Disclosure by Withdrawal Methods for Bad Debts
Unit: RMB
| Category | Ending balance | Beginning balance | ||||||||
| Carrying amount | Provision for impairment | Carrying value | Carrying amount | Provision for impairment | Carrying value | |||||
| Amount | Proportion | Amount | Withdrawal proportion | Amount | Proportion | Amount | Withdrawal proportion | |||
| Notes receivable for which bad debt provision separately accrued | 0.00 | 0.00% | 0.00 | 0.00% | 0.00 | 0.00 | 0.00% | 0.00 | 0.00% | 0.00 |
| Of which: | ||||||||||
| Notes receivable for which bad debt provision accrued by group | 430,077,416.00 | 100.00% | 21,686.00 | 0.01% | 430,055,730.00 | 375,596,655.00 | 100.00% | 19,644.00 | 0.01% | 375,577,011.00 |
| Of which: | ||||||||||
| Bank acceptance portfolio | 410,274,588.00 | 95.40% | 0.00 | 0.00% | 410,274,588.00 | 342,699,932.00 | 91.24% | 0.00 | 0.00% | 342,699,932.00 |
| Trade acceptance portfolio | 19,802,828.00 | 4.60% | 21,686.00 | 0.11% | 19,781,142.00 | 32,896,723.00 | 8.76% | 19,644.00 | 0.06% | 32,877,079.00 |
| Total | 430,077,416.00 | 100.00% | 21,686.00 | 0.01% | 430,055,730.00 | 375,596,655.00 | 100.00% | 19,644.00 | 0.01% | 375,577,011.00 |
Category name of withdrawal of bad debt provision by group: Grouping of bank acceptance bill and grouping of commercial acceptance bill
Unit: RMB
| Name | Ending balance | ||
| Carrying amount | Provision for impairment | Withdrawal proportion | |
| Bank acceptance portfolio | 410,274,588.00 | 0.00 | 0.00% |
| Trade acceptance portfolio | 19,802,828.00 | 21,686.00 | 0.11% |
| Total | 430,077,416.00 | 21,686.00 | |
Notes for the basis of determining such portfolio:
Based on the characteristics of credit risk, it is divided into grouping of bank acceptance bill and grouping of commercial acceptance bill
If adopting the general mode of expected credit loss to withdraw bad debt provision of notes receivable:
□Applicable ?Not applicable
(3) Bad Debt Provision Withdrawn, Reversed or Recovered in the Reporting PeriodInformation of bad debt provision withdrawn:
Unit: RMB
| Category | Beginning balance | Changes in the Reporting Period | Ending balance | |||
| Withdrawal | Reversal or recovery | Write-off | Others | |||
| Trade acceptance portfolio | 19,644.00 | 2,042.00 | 0.00 | 0.00 | 0.00 | 21,686.00 |
| Total | 19,644.00 | 2,042.00 | 0.00 | 0.00 | 0.00 | 21,686.00 |
Of which bad debt provision reversed or recovered with significant amount:
□Applicable ?Not applicable
(4) Notes Receivable Pledged by the Company at the Period-end
Unit: RMB
| Item | Amount pledged at the period-end |
| Bank acceptance bill | 56,816,823.00 |
| Commercial acceptance bill | 0.00 |
| Total | 56,816,823.00 |
(5) Notes Receivable which Had Endorsed by the Company or Had Discounted and Had not Due on the Balance Sheet Date at the Period-end
Unit: RMB
| Item | Amount of recognition termination at the period-end | Amount of not recognition termination at the period-end |
| Bank acceptance bill | 0.00 | 248,300,286.00 |
| Commercial acceptance bill | 0.00 | 0.00 |
| Total | 0.00 | 248,300,286.00 |
(6) Notes Receivable with Actual Verification for the Reporting Period
Unit: RMB
| Item | Amount verified |
| N/A |
Of which, verification of significant notes receivable:
Unit: RMB
| Subsidiary | Nature | Amount verified | Reason for verification | Verification procedures performed | Whether generated from connected transactions |
| N/A |
Notes of the verification of notes receivable:
N/A
5. Accounts Receivable
(1) Disclosure by Aging
Unit: RMB
| Ageing | Ending carrying balance | Beginning carrying balance |
| Within one year (including one year) | 31,492,532,549.00 | 32,716,203,140.00 |
| 1 One to two years | 442,565,801.00 | 350,015,788.00 |
| 2 Two to three years | 237,501,522.00 | 191,517,633.00 |
| Over three years | 308,903,234.00 | 242,931,406.00 |
| 3 Three to four years | 163,772,970.00 | 139,963,089.00 |
| 4 Four to five years | 78,673,903.00 | 69,617,372.00 |
| Over five years | 66,456,361.00 | 33,350,945.00 |
| Total | 32,481,503,106.00 | 33,500,667,967.00 |
(2) Disclosure by Withdrawal Methods for Bad Debts
Unit: RMB
| Category | Ending balance | Beginning balance | ||||||||
| Carrying amount | Provision for impairment | Carrying value | Carrying amount | Provision for impairment | Carrying value | |||||
| Amount | Proportion | Amount | Withdrawal proportion | Amount | Proportion | Amount | Withdrawal proportion | |||
| Accounts receivable for which bad debt provision accrued separately | 1,047,231,007.00 | 3.22% | 24,270,419.00 | 2.32% | 1,022,960,588.00 | 823,701,703.00 | 2.46% | 21,753,190.00 | 2.64% | 801,948,513.00 |
| Of which: | ||||||||||
| Customers with a high credit risk | 27,031,831.00 | 0.08% | 24,270,419.00 | 89.78% | 2,761,412.00 | 24,192,778.00 | 0.07% | 21,753,190.00 | 89.92% | 2,439,588.00 |
| Customers with a low credit risk | 1,020,199,176.00 | 3.14% | 0.00 | 0.00% | 1,020,199,176.00 | 799,508,925.00 | 2.39% | 0.00 | 0.00% | 799,508,925.00 |
| Accounts receivable withdrawal of bad debt provision by portfolio | 31,434,272,099.00 | 96.78% | 135,646,013.00 | 0.43% | 31,298,626,086.00 | 32,676,966,264.00 | 97.54% | 113,498,287.00 | 0.35% | 32,563,467,977.00 |
| Of which: | ||||||||||
| Customers | 31,434,272,099.00 | 96.78% | 135,646,013.00 | 0.43% | 31,298,626,086.00 | 32,676,966,264.00 | 97.54% | 113,498,287.00 | 0.35% | 32,563,467,977.00 |
| with a moderate credit risk | ||||||||||
| Total | 32,481,503,106.00 | 100.00% | 159,916,432.00 | 0.49% | 32,321,586,674.00 | 33,500,667,967.00 | 100.00% | 135,251,477.00 | 0.40% | 33,365,416,490.00 |
Category name of bad debt provision accrued by item: Customers with high credit risk and customers with low credit risk
Unit: RMB
| Name | Beginning balance | Ending balance | ||||
| Carrying amount | Provision for impairment | Carrying amount | Provision for impairment | Withdrawal proportion | Reason for withdrawal | |
| Customers with a high credit risk | 24,192,778.00 | 21,753,190.00 | 27,031,831.00 | 24,270,419.00 | 89.78% | N/A |
| Customers with a low credit risk | 799,508,925.00 | 0.00 | 1,020,199,176.00 | 0.00 | 0.00% | N/A |
| Total | 823,701,703.00 | 21,753,190.00 | 1,047,231,007.00 | 24,270,419.00 | ||
Category name of withdrawal of bad debt provision by portfolio: Customers with moderate credit risk
Unit: RMB
| Name | Ending balance | ||
| Carrying amount | Provision for impairment | Withdrawal proportion | |
| Customers with a moderate credit risk | 31,434,272,099.00 | 135,646,013.00 | 0.43% |
| Total | 31,434,272,099.00 | 135,646,013.00 | |
Notes for the basis of determining such portfolio:
| Customer grouping | Grouping basis |
| Customers with a high credit risk | There are special circumstances, such as litigation or deterioration of customer credit standing |
| Customers with a low credit risk | Banks, insurance companies, large central enterprises, and public institutions |
| Customers with a moderate credit risk | Customers not classified as the above grouping |
If adopting the general mode of expected credit loss to withdraw bad debt provision of accounts receivable:
□Applicable ?Not applicable
(3) Bad Debt Provision Withdrawn, Reversed or Recovered in the Reporting Period
Information of bad debt provision withdrawn:
Unit: RMB
| Category | Beginning balance | Changes in the Reporting Period | Ending balance | |||
| Withdrawal | Reversal or recovery | Write-off | Others | |||
| Customers with a high credit risk | 21,753,190.00 | 2,724,945.00 | -212,000.00 | 0.00 | 4,284.00 | 24,270,419.00 |
| Customers with a moderate credit risk | 113,498,287.00 | 29,704,840.00 | -6,257,619.00 | -1,620,481.00 | 320,986.00 | 135,646,013.00 |
| Total | 135,251,477.00 | 32,429,785.00 | -6,469,619.00 | -1,620,481.00 | 325,270.00 | 159,916,432.00 |
Of which bad debt provision reversed or recovered with significant amount:
Unit: RMB
| Subsidiary | Amount reversed or recovered | Reason for reversal | Way of recovery | Basis and rationality of determining the original withdrawal proportion of bad debt provision |
| N/A |
N/A
(4) Accounts Receivable with Actual Verification during the Reporting Period
Unit: RMB
| Item | Amount verified |
| Accounts receivable with actual verification | 1,620,481.00 |
Of which the verification of significant accounts receivable:
Unit: RMB
| Subsidiary | Nature | Amount verified | Reason for verification | Verification procedures performed | Whether generated from connected transactions |
| N/A |
Notes of the verification of accounts receivable:
N/A
(5) Top Five Accounts Receivable and Contract Assets in Ending Balance Collected according to the ArrearsParty
Unit: RMB
| Subsidiary | Ending balance of accounts receivable | Ending balance of contract assets | Ending balance of accounts receivable and contract assets | Proportion to total ending balance of accounts receivable and | Ending balance of bad debt provision of accounts receivable and impairment |
| contract assets | provision for contract assets | ||||
| Customer 1 | 2,783,279,123.00 | 0.00 | 2,783,279,123.00 | 8.54% | 0.00 |
| Customer 2 | 2,429,459,627.00 | 1,557,282.00 | 2,431,016,909.00 | 7.46% | 0.00 |
| Customer 3 | 1,558,503,539.00 | 0.00 | 1,558,503,539.00 | 4.78% | 0.00 |
| Customer 4 | 1,528,906,856.00 | 0.00 | 1,528,906,856.00 | 4.69% | 0.00 |
| Customer 5 | 1,120,858,759.00 | 0.00 | 1,120,858,759.00 | 3.44% | 0.00 |
| Total | 9,421,007,904.00 | 1,557,282.00 | 9,422,565,186.00 | 28.91% | 0.00 |
6. Contract Assets
(1) List of Contract Assets
Unit: RMB
| Item | Ending balance | Beginning balance | ||||
| Carrying amount | Provision for impairment | Carrying value | Carrying amount | Provision for impairment | Carrying value | |
| Contract assets | 117,056,795.00 | 1,599,073.00 | 115,457,722.00 | 96,528,397.00 | 817,655.00 | 95,710,742.00 |
| Total | 117,056,795.00 | 1,599,073.00 | 115,457,722.00 | 96,528,397.00 | 817,655.00 | 95,710,742.00 |
(2) Significant Changes in the Amount of Carrying Value and the Reason in the Reporting Period
Unit: RMB
| Item | Change in amount | Reason(s) |
| N/A |
(3) Disclosure by Withdrawal Methods for Bad Debts
Unit: RMB
| Category | Ending balance | Beginning balance | ||||||||
| Carrying amount | Provision for impairment | Carrying value | Carrying amount | Provision for impairment | Carrying value | |||||
| Amount | Proportion | Amount | Withdrawal proportion | Amount | Proportion | Amount | Withdrawal proportion | |||
| Bad debt provision separately accrued | 117,056,795.00 | 100.00% | 1,599,073.00 | 1.37% | 115,457,722.00 | 96,528,397.00 | 100.00% | 817,655.00 | 0.85% | 95,710,742.00 |
| Of which: | ||||||||||
| Withdrawal of bad debt provision by group | 0.00 | 0.00% | 0.00 | 0.00% | 0.00 | 0.00 | 0.00% | 0.00 | 0.00% | 0.00 |
| Of which: | ||||||||||
| Total | 117,056,795.00 | 100.00% | 1,599,073.00 | 1.37% | 115,457,722.00 | 96,528,397.00 | 100.00% | 817,655.00 | 0.85% | 95,710,742.00 |
Category name of bad debt provision accrued by item: Bad debt provision accrued by item
Unit: RMB
| Name | Beginning balance | Ending balance | ||||
| Carrying amount | Provision for impairment | Carrying amount | Provision for impairment | Withdrawal proportion | Reason for withdrawal | |
| Bad debt provision separately accrued | 96,528,397.00 | 817,655.00 | 117,056,795.00 | 1,599,073.00 | 1.37% | N/A |
| Total | 96,528,397.00 | 817,655.00 | 117,056,795.00 | 1,599,073.00 | ||
Withdrawal of bad debt provision by adopting the general mode of expected credit loss
□Applicable ?Not applicable
(4) Bad Debt Provision Withdrawn, Reversed or Recovered in the Reporting Period
Unit: RMB
| Item | Withdrawal of the Current Period | Reversal or recovery in the Reporting Period | Verification | Reason |
| Provision for impairment of assets | 781,418.00 | 0.00 | 0.00 | N/A |
| Total | 781,418.00 | 0.00 | 0.00 |
Of which bad debt provision reversed or recovered with significant amount:
Unit: RMB
| Subsidiary | Amount reversed or recovered | Reason for reversal | Way of recovery | Basis and rationality of determining the original withdrawal proportion of bad debt provision |
| N/A |
Other notes:
N/A
(5) Contract Assets Written-off in Current Period
Unit: RMB
| Item | Amount verified |
| Contract assets actually written off | 0.00 |
Of which the verification of significant contract assets
Unit: RMB
| Subsidiary | Nature | Amount verified | Reason for verification | Verification procedures performed | Whether generated from connected transactions |
| N/A |
Notes to verification of contract assets:
N/AOther notes:
N/A
7. Accounts Receivable Financing
(1) Accounts Receivable Financing Listed by Category
Unit: RMB
| Item | Ending balance | Beginning balance |
| Bank acceptance bill | 428,298,548.00 | 408,534,622.00 |
| Total | 428,298,548.00 | 408,534,622.00 |
(2) Disclosure by Withdrawal Methods for Bad Debts
Unit: RMB
| Category | Ending balance | Beginning balance | ||||||||
| Carrying amount | Provision for impairment | Carrying value | Carrying amount | Provision for impairment | Carrying value | |||||
| Amount | Proportion | Amount | Withdrawal proportion | Amount | Proportion | Amount | Withdrawal proportion | |||
| Bad debt provision separately accrued | 428,298,548.00 | 100.00% | 0.00 | 0.00% | 428,298,548.00 | 408,534,622.00 | 100.00% | 0.00 | 0.00% | 408,534,622.00 |
| Of which: | ||||||||||
| Withdrawal of bad debt provision by group | 0.00 | 0.00% | 0.00 | 0.00% | 0.00 | 0.00 | 0.00% | 0.00 | 0.00% | 0.00 |
| Of which: | ||||||||||
| Total | 428,298,548.00 | 100.00% | 0.00 | 0.00% | 428,298,548.00 | 408,534,622.00 | 100.00% | 0.00 | 0.00% | 408,534,622.00 |
Withdrawal of bad debt provision by adopting the general mode of expected credit loss
Unit: RMB
| Provision for impairment | Phase I | Phase II | Phase III | Total |
| Expected credit loss in the next 12 months | Expected credit losses for the whole existence period (no credit impairment) | Expected credit losses for the whole existence period (with credit impairment) | ||
| Balance of 1 January 2024 | 0.00 | 0.00 | 0.00 | 0.00 |
| Balance of 1 January 2024 in the Current Period | ||||
| --Transfer to Phase II | 0.00 | 0.00 | 0.00 | 0.00 |
| --Transfer to Phase III | 0.00 | 0.00 | 0.00 | 0.00 |
| --Reserve to Phase II | 0.00 | 0.00 | 0.00 | 0.00 |
| --Reserve to Phase I | 0.00 | 0.00 | 0.00 | 0.00 |
| Withdrawal of the current period | 0.00 | 0.00 | 0.00 | 0.00 |
| Reversal of the current period | 0.00 | 0.00 | 0.00 | 0.00 |
| Amount charged-off for the current period | 0.00 | 0.00 | 0.00 | 0.00 |
| Amount written-off for the current period | 0.00 | 0.00 | 0.00 | 0.00 |
| Other changes | 0.00 | 0.00 | 0.00 | 0.00 |
| Balance of 30 June 2024 | 0.00 | 0.00 | 0.00 | 0.00 |
The basis for the division of each stage and the withdrawal proportion of bad debt provision: N/ANotes to significant changes in the carrying balance of other receivables for which changes in the loss reserve for the current period occurred: N/A
(3) Bad Debt Provision Withdrawal, Reversed or Recovered in the Current Period
Unit: RMB
| Category | Beginning balance | Changes in the Reporting Period | Ending balance | |||
| Withdrawal | Reversal or recovery | Charged-off/Written-off | Other changes | |||
| N/A | ||||||
Of which bad debt provision reversed or recovered with significant amount:
Unit: RMB
| Subsidiary | Amount reversed or recovered | Reason for reversal | Way of recovery | Basis and rationality of determining the original withdrawal proportion of bad debt provision |
| N/A |
Other notes:
N/A
(4) Accounts Receivable Financing Pledged by the Company at the Period-end
Unit: RMB
| Item | Amount pledged at the period-end |
| N/A |
(5) Accounts Receivable Financing Which Had Endorsed by the Company or Had Discounted and Had notDue on the Balance Sheet Date at the Period-end
Unit: RMB
| Item | Amount of recognition termination at the period-end | Amount of not recognition termination at the period-end |
| Bank acceptance bill | 638,208,455.00 | 0.00 |
| Total | 638,208,455.00 | 0.00 |
(6) Accounts Receivable Financing with Actual Verification for the Current Period
Unit: RMB
| Item | Amount verified |
| Accounts Receivable Financing with Actual Verification for the Current Period | 0.00 |
Of which the verification of significant accounts receivable financing
Unit: RMB
| Subsidiary | Nature | Amount verified | Reason for verification | Verification procedures performed | Whether generated from connected transactions |
| N/A |
Notes to verification:
N/A
(7) The Changes of Accounts Receivable Financing in the Current Period and the Changes in Fair Value
N/A
(8) Other Notes
N/A
8. Other Receivables
Unit: RMB
| Item | Ending balance | Beginning balance |
| Interest receivable | 0.00 | 0.00 |
| Dividends receivable | 74,630,717.00 | 0.00 |
| Other receivables | 661,826,674.00 | 726,659,207.00 |
| Total | 736,457,391.00 | 726,659,207.00 |
(1) Interest Receivable
1) Category of Interest Receivable
Unit: RMB
| Item | Ending balance | Beginning balance |
| Fixed time deposit | 0.00 | 0.00 |
| Entrusted loans | 0.00 | 0.00 |
| Bond investment | 0.00 | 0.00 |
| Total | 0.00 | 0.00 |
2) Significant Overdue Interest
Unit: RMB
| Borrower | Ending balance | Overdue time | Reason | Whether occurred impairment and its judgment basis |
| N/A |
Other notes:
N/A
3) Disclosure by Withdrawal Methods for Bad Debts
□Applicable ?Not applicable
4) Bad Debt Provision Withdrawal, Reversed or Recovered in the Current Period
Unit: RMB
| Category | Beginning balance | Changes in the Reporting Period | Ending balance | |||
| Withdrawal | Reversal or recovery | Charged-off/Written-off | Other changes | |||
| N/A | ||||||
Of which bad debt provision reversed or recovered with significant amount:
Unit: RMB
| Subsidiary | Amount reversed or recovered | Reason for reversal | Way of recovery | Basis and rationality of determining the original withdrawal proportion of bad debt provision |
| N/A |
Other notes: N/A
5) Interests Receivable Written-off in Current Period
Unit: RMB
| Item | Amount verified |
| Interest receivable with actual verification | 0.00 |
Of which the verification of significant interest receivable:
Unit: RMB
| Subsidiary | Nature | Amount verified | Reason for verification | Verification procedures performed | Whether generated from connected transactions |
| N/A |
Notes to verification: N/AOther notes: N/A
(2) Dividends Receivable
1) Category of Dividends Receivable
Unit: RMB
| Project (or investee) | Ending balance | Beginning balance |
| Bank of Chongqing Co., Ltd. | 10,279,560.00 | 0.00 |
| New Century Healthcare Holding Co. Limited | 739,716.00 | 0.00 |
| Honor Device Co., Ltd. | 51,816,984.00 | 0.00 |
| VusionGroup S.A. | 11,794,457.00 | 0.00 |
| Total | 74,630,717.00 | 0.00 |
2) Significant Dividend Receivable Aging Over One Year
Unit: RMB
| Project (or investee) | Ending balance | Ageing | Unrecovered reason | Whether occurred impairment and its judgment basis |
| N/A |
3) Disclosure by Withdrawal Methods for Bad Debts
□Applicable ?Not applicable
4) Bad Debt Provision Withdrawal, Reversed or Recovered in the Current Period
Unit: RMB
| Category | Beginning balance | Changes in the Reporting Period | Ending balance | |||
| Withdrawal | Reversal or recovery | Charged-off/Written-off | Other changes | |||
| N/A | ||||||
Of which bad debt provision reversed or recovered with significant amount:
Unit: RMB
| Subsidiary | Amount reversed or recovered | Reason for reversal | Way of recovery | Basis and rationality of determining the original withdrawal proportion of bad debt provision |
| N/A |
Other notes: N/A
5) Dividends Receivable with Actual Verification during the Reporting Period
Unit: RMB
| Item | Amount verified |
| Dividend receivable with actual verification | 0.00 |
Of which the verification of significant dividends receivable:
Unit: RMB
| Subsidiary | Nature | Amount verified | Reason for verification | Verification procedures performed | Whether generated from connected transactions |
| N/A |
Notes to verification: N/AOther notes: N/A
(3) Other Accounts Receivable
1) Other Account Receivable Classified by Account Nature
Unit: RMB
| Nature | Ending carrying balance | Beginning carrying balance |
| Refund of value added tax and refund of tax for export | 0.00 | 0.00 |
| Equity transfer fee receivable | 200,000,000.00 | 200,000,000.00 |
| Deposits and guaranteed deposits | 336,559,125.00 | 398,335,916.00 |
| Others | 136,185,878.00 | 141,433,917.00 |
| Total | 672,745,003.00 | 739,769,833.00 |
2) Disclosure by Aging
Unit: RMB
| Ageing | Ending carrying balance | Beginning carrying balance |
| Within one year (including one year) | 346,250,416.00 | 330,573,576.00 |
| One to two years | 33,631,992.00 | 121,561,167.00 |
| Two to three years | 19,650,651.00 | 40,445,484.00 |
| Over three years | 273,211,944.00 | 247,189,606.00 |
| Three to four years | 32,456,809.00 | 12,158,337.00 |
| Four to five years | 11,238,503.00 | 3,625,759.00 |
| Over five years | 229,516,632.00 | 231,405,510.00 |
| Total | 672,745,003.00 | 739,769,833.00 |
3) Disclosure by Withdrawal Methods for Bad Debts
?Applicable □ Not applicable
Unit: RMB
| Category | Ending balance | Beginning balance | ||||||||
| Carrying amount | Provision for impairment | Carrying value | Carrying amount | Provision for impairment | Carrying value | |||||
| Amount | Proportion | Amount | Withdrawal proportion | Amount | Proportion | Amount | Withdrawal proportion | |||
| Bad debt provision separately accrued | 663,875,720.00 | 98.68% | 10,816,895.00 | 1.63% | 653,058,825.00 | 718,011,071.00 | 97.06% | 12,515,014.00 | 1.74% | 705,496,057.00 |
| Of which: | ||||||||||
| Funds with high credit risk | 10,816,895.00 | 1.33% | 10,816,895.00 | 100.00% | 0.00 | 12,515,014.00 | 1.69% | 12,515,014.00 | 100.00% | 0.00 |
| Funds with low credit risk | 653,058,825.00 | 97.07% | 0.00 | 0.00% | 653,058,825.00 | 705,496,057.00 | 95.37% | 0.00 | 0.00% | 705,496,057.00 |
| Withdrawal of bad debt provision by group | 8,869,283.00 | 1.32% | 101,434.00 | 1.14% | 8,767,849.00 | 21,758,762.00 | 2.94% | 595,612.00 | 2.74% | 21,163,150.00 |
| Of which: | ||||||||||
| Funds with moderate credit risk | 8,869,283.00 | 1.32% | 101,434.00 | 1.14% | 8,767,849.00 | 21,758,762.00 | 2.94% | 595,612.00 | 2.74% | 21,163,150.00 |
| Total | 672,745,003.00 | 100.00% | 10,918,329.00 | 1.34% | 661,826,674.00 | 739,769,833.00 | 100.00% | 13,110,626.00 | 1.77% | 726,659,207.00 |
Category name of bad debt provision accrued by item: Funds with high credit risk and funds with low credit risk
Unit: RMB
| Name | Beginning balance | Ending balance | ||||
| Carrying amount | Provision for impairment | Carrying amount | Provision for impairment | Withdrawal proportion | Reason for withdrawal | |
| Funds with high credit risk | 12,515,014.00 | 12,515,014.00 | 10,816,895.00 | 10,816,895.00 | 100.00% | N/A |
| Funds with low credit risk | 705,496,057.00 | 0.00 | 653,058,825.00 | 0.00 | 0.00% | N/A |
| Total | 718,011,071.00 | 12,515,014.00 | 663,875,720.00 | 10,816,895.00 | ||
Category name of withdrawal of bad debt provision by group: Funds with moderate credit risk
Unit: RMB
| Name | Ending balance | ||
| Carrying amount | Provision for impairment | Withdrawal proportion | |
| Funds with moderate credit risk | 8,869,283.00 | 101,434.00 | 1.14% |
| Total | 8,869,283.00 | 101,434.00 | |
Notes for the basis of determining such portfolio:
N/AWithdrawal of bad debt provision by adopting the general mode of expected credit loss:
Unit: RMB
| Provision for impairment | Phase I | Phase II | Phase III | Total |
| Expected credit loss in the next 12 months | Expected credit losses for the whole existence period (no credit impairment) | Expected credit losses for the whole existence period (with credit impairment) | ||
| Balance of 1 January 2024 | 131,167.00 | 464,445.00 | 12,515,014.00 | 13,110,626.00 |
| Balance of 1 January 2024 in the Current Period | ||||
| --Transfer to Phase II | -1,065.00 | 1,065.00 | 0.00 | 0.00 |
| --Transfer to Phase III | -6,289.00 | -100,000.00 | 106,289.00 | 0.00 |
| --Reserve to Phase II | 0.00 | 0.00 | 0.00 | 0.00 |
| --Reserve to Phase I | 0.00 | 0.00 | 0.00 | 0.00 |
| Withdrawal of the Current Period | 36,723.00 | 0.00 | 300,000.00 | 336,723.00 |
| Reversal of the current period | -90,680.00 | -333,932.00 | -2,094,364.00 | -2,518,976.00 |
| Amount charged-off for the current period | 0.00 | 0.00 | 0.00 | 0.00 |
| Amount written-off for the current period | 0.00 | 0.00 | 0.00 | 0.00 |
| Other changes | 0.00 | 0.00 | -10,044.00 | -10,044.00 |
| Balance of 30 June 2024 | 69,856.00 | 31,578.00 | 10,816,895.00 | 10,918,329.00 |
The basis for the division of each phase and the withdrawal proportion of bad debt provision
| Item | Phase I | Phase II | Phase III |
| Phase characteristics | Credit risk has not increased significantly since initial recognition | Credit risk has increased significantly since initial recognition, but credit impairment has occurred | Credit impairment has occurred after initial recognition |
| Loss provisions | Expected credit loss in the next 12 months | Expected credit loss for the whole existence period | Expected credit loss for the whole existence period |
Changes of carrying amount with significant amount changed of loss provision in the current period
□Applicable ?Not applicable
4) Bad Debt Provision Withdrawn, Reversed or Recovered in the Reporting Period
Information of bad debt provision withdrawn:
Unit: RMB
| Category | Beginning balance | Changes in the Reporting Period | Ending balance | |||
| Withdrawal | Reversal or recovery | Charged-off/Written-off | Others | |||
| Funds with high credit risk | 12,515,014.00 | 300,000.00 | -2,094,364.00 | 0.00 | 96,245.00 | 10,816,895.00 |
| Funds with moderate credit risk | 595,612.00 | 36,723.00 | -424,612.00 | 0.00 | -106,289.00 | 101,434.00 |
| Total | 13,110,626.00 | 336,723.00 | -2,518,976.00 | 0.00 | -10,044.00 | 10,918,329.00 |
N/AOf which the bad debt provision reversed or recovered with significant amount during the Reporting Period:
Unit: RMB
| Subsidiary | Amount reversed or recovered | Reason for reversal | Way of recovery | Basis and rationality of determining the original withdrawal proportion of bad debt provision |
| N/A |
N/A
5) Other Accounts Receivable with Actual Verification during the Reporting Period
Unit: RMB
| Item | Amount verified |
| N/A |
Of which the verification of significant other accounts receivable:
Unit: RMB
| Subsidiary | Nature | Amount verified | Reason for verification | Verification procedures performed | Whether generated from connected transactions |
| N/A |
Notes to the verification of other accounts receivable:
N/A
6) Top Five Other Accounts Receivable in Ending Balance Collected According to the Arrears Party
Unit: RMB
| Subsidiary | Nature | Ending balance | Ageing | Proportion to total ending balance of other receivables (%) | Ending balance of bad debt provision |
| Customer 1 | Equity transfer fee receivable | 200,000,000.00 | Over five years | 29.73% | 0.00 |
| Customer 2 | Deposits and guaranteed deposits | 106,902,000.00 | Within one year | 15.89% | 0.00 |
| Customer 3 | Deposits and guaranteed deposits | 56,061,191.00 | Within one year | 8.33% | 0.00 |
| Customer 4 | Export rebates | 23,447,326.00 | Within one year | 3.49% | 0.00 |
| Customer 5 | Deposits and guaranteed deposits | 19,695,166.00 | Within one year, one to two years, two to three years | 2.93% | 0.00 |
| Total | 406,105,683.00 | 60.37% | 0.00 |
7) Presentation in Other Receivables Due to the Centralized Management of Fund
Unit: RMB
| Amounts presented in other receivables due to the centralized management of funds | 0.00 |
| Explanation | N/A |
Other notes:
N/A
9. Prepayments
(1) Listed by Aging
Unit: RMB
| Ageing | Ending balance | Beginning balance | ||
| Amount | Proportion | Amount | Proportion | |
| Within one year | 565,271,232.00 | 86.00% | 478,067,697.00 | 86.00% |
| One to two years | 30,698,909.00 | 5.00% | 22,099,954.00 | 4.00% |
| Two to three years | 45,153,774.00 | 6.00% | 53,855,290.00 | 9.00% |
| Over three years | 16,930,643.00 | 3.00% | 4,636,839.00 | 1.00% |
| Total | 658,054,558.00 | 558,659,780.00 | ||
Notes of the reasons of the prepayment aging over one year with significant amount but failed settled in time:
The Group did not have prepayments that aged over one year with a significant amount but were not settled in time.
(2) Top Five of the Ending Balance of the Prepayments Collected According to the Prepayment TargetThe total Top five prepayment in ending balance of the Group was RMB207,598,674.00, accounting for 32.00% of total closing balanceof prepayment.Other notes:
N/A
10. Inventory
Whether the Company needs to comply with disclosure requirements for real estate industryNo
(1) Category of Inventory
Unit: RMB
| Item | Ending balance | Beginning balance | ||||
| Carrying amount | Falling price reserves of inventory or depreciation reserves of contract performance cost | Carrying value | Carrying amount | Falling price reserves of inventory or depreciation reserves of contract performance cost | Carrying value | |
| Raw materials | 10,093,165,470.00 | 2,452,837,701.00 | 7,640,327,769.00 | 9,443,911,152.00 | 2,189,991,288.00 | 7,253,919,864.00 |
| Goods in process | 6,562,627,072.00 | 1,250,133,983.00 | 5,312,493,089.00 | 5,564,254,528.00 | 1,144,952,516.00 | 4,419,302,012.00 |
| Inventory goods | 16,737,141,597.00 | 3,983,814,279.00 | 12,753,327,318.00 | 16,215,828,399.00 | 4,056,038,972.00 | 12,159,789,427.00 |
| Turnover materials | 205,696,769.00 | 1,089,060.00 | 204,607,709.00 | 189,084,809.00 | 0.00 | 189,084,809.00 |
| Expendable biological assets | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Contract performance costs | 118,670,539.00 | 0.00 | 118,670,539.00 | 97,571,213.00 | 0.00 | 97,571,213.00 |
| Goods in transit | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total | 33,717,301,447.00 | 7,687,875,023.00 | 26,029,426,424.00 | 31,510,650,101.00 | 7,390,982,776.00 | 24,119,667,325.00 |
(2) Data Resources Recognized as Inventory
Unit: RMB
| Item | Purchased data resources | Self-processed data resources | Data resources acquired by other means | Total |
| I. Original Carrying Value |
| 1. Beginning Balance | 0.00 | 0.00 | 0.00 | 0.00 |
| 2. Increased Amount of the Period | 0.00 | 0.00 | 0.00 | 0.00 |
| 3. Decreased Amount of the Period | 0.00 | 0.00 | 0.00 | 0.00 |
| 4. Ending Balance | 0.00 | 0.00 | 0.00 | 0.00 |
| II. Falling price reserves of inventory | ||||
| 1. Beginning Balance | 0.00 | 0.00 | 0.00 | 0.00 |
| 2. Increased Amount of the Period | 0.00 | 0.00 | 0.00 | 0.00 |
| 3. Decreased Amount of the Period | 0.00 | 0.00 | 0.00 | 0.00 |
| 4. Ending Balance | 0.00 | 0.00 | 0.00 | 0.00 |
| III. Carrying value | ||||
| 1. Ending Carrying Value | 0.00 | 0.00 | 0.00 | 0.00 |
| 2. Beginning Carrying Value | 0.00 | 0.00 | 0.00 | 0.00 |
N/A
(3) Falling Price Reserves of Inventories and Impairment Provision for Contract Performance Costs
Unit: RMB
| Item | Beginning balance | Increased amount | Decrease | Ending balance | ||
| Withdrawal | Others | Reversal or write-off | Others | |||
| Raw materials | 2,189,991,288.00 | 1,291,510,564.00 | 0.00 | 1,028,664,151.00 | 0.00 | 2,452,837,701.00 |
| Goods in process | 1,144,952,516.00 | 463,472,132.00 | 0.00 | 358,290,665.00 | 0.00 | 1,250,133,983.00 |
| Inventory goods | 4,056,038,972.00 | 1,889,994,265.00 | 0.00 | 1,962,218,958.00 | 0.00 | 3,983,814,279.00 |
| Turnover materials | 0.00 | 1,099,438.00 | 0.00 | 10,378.00 | 0.00 | 1,089,060.00 |
| Expendable biological assets | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Contract performance costs | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total | 7,390,982,776.00 | 3,646,076,399.00 | 0.00 | 3,349,184,152.00 | 0.00 | 7,687,875,023.00 |
N/AProvision for depreciation in value of inventories by portfolio
Unit: RMB
| Portfolio name | Period-end | Period-beginning | ||||
| Ending balance | Falling price reserves | Depreciation provision proportion | Beginning balance | Falling price reserves | Depreciation provision proportion | |
| N/A | ||||||
Provision standards for depreciation in value of inventories by groupN/A
(4) Notes to the Ending Balance of Inventories Including Capitalized Borrowing Expense
N/A
(5) Amount of Contract Performance Costs Amortized in the Reporting PeriodN/A
11. Held-for-Sale Assets
Unit: RMB
| Item | Ending carrying balance | Impairment provision | Ending carrying value | Fair value | Estimated disposal expense | Estimated disposal time |
| N/A |
Other notes:
N/A
12. Current Portion of Non-current Assets
Unit: RMB
| Item | Ending balance | Beginning balance |
| Debt investments due within one year | 0.00 | 0.00 |
| Other debt investments due within one year | 0.00 | 0.00 |
| Long-term receivables due within one year | 67,371,460.00 | 8,683,381.00 |
| Total | 67,371,460.00 | 8,683,381.00 |
(1) Investments in Debt Obligations Due within One Year
□Applicable ?Not applicable
(2) Other Investments in Debt Obligations Due within One Year
□Applicable ?Not applicable
13. Other Current Assets
Unit: RMB
| Item | Ending balance | Beginning balance |
| Contract acquisition costs | 46,609,883.00 | 49,964,295.00 |
| Refund costs receivable | 158,427,580.00 | 140,814,527.00 |
| Impairment of VAT to be offset | 2,554,360,832.00 | 2,512,924,348.00 |
| Input tax of VAT to be certified and | 403,273,096.00 | 291,415,443.00 |
| deducted | ||
| Wealth management products | 0.00 | 0.00 |
| Prepaid income tax | 119,420,974.00 | 166,028,954.00 |
| Others | 72,444,529.00 | 147,191,364.00 |
| Total | 3,354,536,894.00 | 3,308,338,931.00 |
Other notes:
N/A
14. Investments in Debt Obligations
(1) List of Investments in Debt Obligations
Unit: RMB
| Item | Ending balance | Beginning balance | ||||
| Carrying amount | Impairment provision | Carrying value | Carrying amount | Impairment provision | Carrying value | |
| N/A | ||||||
| Total | 0.00 | 0.00 | ||||
Changes in the impairment provision for investments in debt obligations during the current period
Unit: RMB
| Item | Beginning balance | Increase | Decrease | Ending balance |
| N/A |
(2) Significant Investments in Debt Obligations at the Period-end
Significant investments in debt obligations
Unit: RMB
| Item | Ending balance | Beginning balance | ||||||||
| Par value | Coupon rate | Actual interest rate | Maturity date | Overdue principal | Par value | Coupon rate | Actual interest rate | Maturity date | Overdue principal | |
| N/A | ||||||||||
(3) Status of Accrued Depreciation Reserves
Unit: RMB
| Provision for impairment | Phase I | Phase II | Phase III | Total |
| Expected credit loss in the next 12 months | Lifetime expected credit loss (without credit impairment) | Lifetime expected credit loss (with credit impairment) | ||
| Balance of 1 January 2024 | 0.00 | 0.00 | 0.00 | 0.00 |
| Balance of 1 January 2024 in the Current Period |
| - Transfer to Phase II | 0.00 | 0.00 | 0.00 | 0.00 |
| - Transfer to Phase III | 0.00 | 0.00 | 0.00 | 0.00 |
| - Reverse to Phase II | 0.00 | 0.00 | 0.00 | 0.00 |
| - Reverse to Phase I | 0.00 | 0.00 | 0.00 | 0.00 |
| Withdrawal of the current period | 0.00 | 0.00 | 0.00 | 0.00 |
| Reversal of the current period | 0.00 | 0.00 | 0.00 | 0.00 |
| Amount charged-off for the current period | 0.00 | 0.00 | 0.00 | 0.00 |
| Amount written-off for the current period | 0.00 | 0.00 | 0.00 | 0.00 |
| Other changes | 0.00 | 0.00 | 0.00 | 0.00 |
| Balance of 30 June 2024 | 0.00 | 0.00 | 0.00 | 0.00 |
The basis for the division of each phase and the withdrawal proportion of bad debt provisionN/A
(4) Status of Investments in Debt Obligations Written-off in Current Period
Unit: RMB
| Item | Amount verified |
| Debt investments actually written off | 0.00 |
Of which the verification of significant investments in debt obligations
Notes to verification of investments in debt obligations:
N/AChanges of carrying amount with significant amount changed of loss provision in the current period
□Applicable ?Not applicable
Other notes:
N/A
15. Other Investments in Debt Obligations
(1) List of Other Investments in Debt Obligations
Unit: RMB
| Item | Beginning balance | Accrued interest | Interest adjustment | Change in fair value in the Reporting Period | Ending balance | Cost | Accumulated changes in fair value | Accumulated impairment provision recognized in other | Note |
| comprehensive income | |||||||||
| N/A | |||||||||
| Total | 0.00 | 0.00 |
Changes in the impairment provision for other investments in debt obligations during the current period
Unit: RMB
| Item | Beginning balance | Increase | Decrease | Ending balance |
| N/A |
(2) Significant Other Investments in Debt Obligations at the Period-end
Unit: RMB
| Item | Ending balance | Beginning balance | ||||||||
| Par value | Coupon rate | Actual interest rate | Maturity date | Overdue principal | Par value | Coupon rate | Actual interest rate | Maturity date | Overdue principal | |
| N/A | ||||||||||
(3) Status of Accrued Depreciation Reserves
Unit: RMB
| Provision for impairment | Phase I | Phase II | Phase III | Total |
| Expected credit loss in the next 12 months | Lifetime expected credit loss (without credit impairment) | Lifetime expected credit loss (with credit impairment) | ||
| Balance of 1 January 2024 | 0.00 | 0.00 | 0.00 | 0.00 |
| Balance of 1 January 2024 in the Current Period | ||||
| - Transfer to Phase II | 0.00 | 0.00 | 0.00 | 0.00 |
| - Transfer to Phase III | 0.00 | 0.00 | 0.00 | 0.00 |
| - Reverse to Phase II | 0.00 | 0.00 | 0.00 | 0.00 |
| - Reverse to Phase I | 0.00 | 0.00 | 0.00 | 0.00 |
| Withdrawal of the current period | 0.00 | 0.00 | 0.00 | 0.00 |
| Reversal of the current period | 0.00 | 0.00 | 0.00 | 0.00 |
| Amount charged-off for the current period | 0.00 | 0.00 | 0.00 | 0.00 |
| Amount written-off for the current period | 0.00 | 0.00 | 0.00 | 0.00 |
| Other changes | 0.00 | 0.00 | 0.00 | 0.00 |
| Balance of 30 June 2024 | 0.00 | 0.00 | 0.00 | 0.00 |
The basis for the division of each phase and the withdrawal proportion of bad debt provisionN/A
(4) Status of Other Investments in Debt Obligations Written-off in Current Period
Unit: RMB
| Item | Amount verified |
| Other debt investments actually written off | 0.00 |
Of which the verification of significant other investments in debt obligations
Notes to write-off of other debt investments: N/AChanges of carrying amount with significant amount changed of loss provision in the current period
□Applicable ?Not applicable
Other notes: N/A
16. Other Equity Instrument Investments
Unit: RMB
| Item | Beginning balance | Gains recorded in other comprehensive income in the current period | Losses recorded in other comprehensive income in the current period | Accumulative gains recorded in other comprehensive income in the current period | Accumulative losses recorded in other comprehensive income in the current period | Dividend income recognized in current year | Ending balance | Reason for assigning to measure in fair value and the changes included in other comprehensive income |
| Beijing Electronics Zone High-Tech Group Co., Ltd. | 61,450,387.00 | 0.00 | 16,221,802.00 | 0.00 | 44,931,843.00 | 0.00 | 45,228,585.00 | Planning long-term holding for strategic purpose |
| Zhejiang BOE Display Technology Co., Ltd. | 321,256.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 321,256.00 | Planning long-term holding for strategic purpose |
| Zhejiang Qiusheng Optoelectric Technology Co., Ltd. | 248,776.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 248,776.00 | Planning long-term holding for strategic purpose |
| Qingdao UHD Video Innovation Technology Co., Ltd. | 500,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 500,000.00 | Planning long-term holding for strategic purpose |
| Bank of Chongqing Co., Ltd. | 90,416,707.00 | 25,475,162.00 | 0.00 | 0.00 | 4,192,506.00 | 10,272,422.00 | 115,891,869.00 | Planning long-term holding |
| for strategic purpose | ||||||||
| New Century Healthcare Holding Co. Limited | 17,488,274.00 | 0.00 | 1,832,904.00 | 0.00 | 125,193,480.00 | 735,727.00 | 15,655,370.00 | Planning long-term holding for strategic purpose |
| Horizon Robotics, Inc. | 36,130,330.00 | 259,156.00 | 0.00 | 4,434,986.00 | 0.00 | 0.00 | 36,389,486.00 | Planning long-term holding for strategic purpose |
| Nanjing Xinjiayuan Technology Co., Ltd. | 1,434,634.00 | 3,984.00 | 0.00 | 0.00 | 561,382.00 | 0.00 | 1,438,618.00 | Planning long-term holding for strategic purpose |
| Danhua Capital, L.P. | 35,413,500.00 | 220,500.00 | 0.00 | 1,107,625.00 | 0.00 | 0.00 | 35,634,000.00 | Planning long-term holding for strategic purpose |
| Danhua Capital II, L.P. | 70,827,000.00 | 441,000.00 | 0.00 | 3,620,249.00 | 0.00 | 0.00 | 71,268,000.00 | Planning long-term holding for strategic purpose |
| Kateeva Inc. | 84,602,852.00 | 526,773.00 | 0.00 | 2,267,160.00 | 0.00 | 0.00 | 85,129,625.00 | Planning long-term holding for strategic purpose |
| Ceribell INC | 23,735,602.00 | 71,046.00 | 0.00 | 14,571,586.00 | 0.00 | 0.00 | 0.00 | Planning long-term holding for strategic purpose |
| Baebies INC | 31,119,167.00 | 193,762.00 | 0.00 | 2,189,375.00 | 0.00 | 0.00 | 31,312,929.00 | Planning long-term holding for strategic purpose |
| KA IMAGING INC. | 2,038,167.00 | 12,691.00 | 0.00 | 43,338.00 | 0.00 | 0.00 | 2,050,858.00 | Planning long-term holding for strategic purpose |
| MOOV INC. | 0.00 | 0.00 | 0.00 | 0.00 | 27,862,839.00 | 0.00 | 0.00 | Planning long- |
| term holding for strategic purpose | ||||||||
| Illumina Fund I, L.P. | 33,814,999.00 | 212,509.00 | 0.00 | 1,964,783.00 | 0.00 | 0.00 | 34,636,412.00 | Planning long-term holding for strategic purpose |
| ACQIS Technology, Inc. | 1,416,540.00 | 8,820.00 | 0.00 | 0.00 | 138,600.00 | 0.00 | 1,425,360.00 | Planning long-term holding for strategic purpose |
| Beijing Oriental Electronics Industry Co., Ltd | 0.00 | 0.00 | 0.00 | 0.00 | 180,000.00 | 0.00 | 0.00 | Planning long-term holding for strategic purpose |
| Dongfang Xinchuang (Beijing) Automobile Technology Co., Ltd. | 402,444.00 | 0.00 | 3,982.00 | 0.00 | 1,070,941.00 | 0.00 | 398,462.00 | Planning long-term holding for strategic purpose |
| Daily Strategy Limited | 3,268,942.00 | 20,354.00 | 0.00 | 201,231.00 | 0.00 | 0.00 | 3,289,296.00 | Planning long-term holding for strategic purpose |
| Total | 494,629,577.00 | 27,445,757.00 | 18,058,688.00 | 30,400,333.00 | 204,131,591.00 | 11,008,149.00 | 480,818,902.00 |
There is derecognition in the current period
Unit: RMB
| Item | Accumulative gains transferred in retained earnings | Accumulative losses transferred in retained earnings | Reason for derecognition |
| Ceribell INC | 14,571,586.00 | 0.00 | Derecognition due to sales |
Disclosure of non-trading equity instrument investment by items
Unit: RMB
| Item | Dividend income recognized | Accumulative gains | Accumulative losses | Amount of other comprehensive income transferred to retained earnings | Reason for assigning to measure in fair value and the changes included in other comprehensive income | Reason for other comprehensive income transferred to retained earnings |
| Beijing Electronics Zone High-Tech Group Co., Ltd. | 0.00 | 0.00 | 19,678,969.00 | 0.00 | Planning long-term holding for strategic purpose | N/A |
| Zhejiang BOE Display Technology Co., Ltd. | 0.00 | 0.00 | 0.00 | 0.00 | Planning long-term holding for strategic purpose | N/A |
| Zhejiang Qiusheng Optoelectric Technology Co., Ltd. | 0.00 | 3,040,266.00 | 0.00 | 0.00 | Planning long-term holding for strategic purpose | N/A |
| Qingdao UHD Video Innovation Technology Co., Ltd. | 0.00 | 0.00 | 0.00 | 0.00 | Planning long-term holding for strategic purpose | N/A |
| Bank of Chongqing Co., Ltd. | 10,272,422.00 | 65,343,458.00 | 0.00 | 0.00 | Planning long-term holding for strategic purpose | N/A |
| New Century Healthcare Holding Co. Limited | 735,727.00 | 0.00 | 124,283,178.00 | 0.00 | Planning long-term holding for strategic purpose | N/A |
| Horizon Robotics, Inc. | 0.00 | 4,434,986.00 | 0.00 | 0.00 | Planning long-term holding for strategic purpose | N/A |
| Nanjing Xinjiayuan Technology Co., Ltd. | 0.00 | 0.00 | 561,382.00 | 0.00 | Planning long-term holding for strategic purpose | N/A |
| Danhua Capital, L.P. | 0.00 | 28,389,911.00 | 0.00 | 0.00 | Planning long-term holding for strategic purpose | N/A |
| Danhua Capital II, L.P. | 0.00 | 47,274,342.00 | 0.00 | 0.00 | Planning long-term holding for strategic purpose | N/A |
| Kateeva Inc. | 0.00 | 2,267,160.00 | 0.00 | 0.00 | Planning long-term holding for strategic purpose | N/A |
| Ceribell INC | 0.00 | 14,571,586.00 | 0.00 | 14,571,586.00 | Planning long-term holding for strategic purpose | Derecognition due to sales |
| Baebies INC | 0.00 | 2,189,375.00 | 0.00 | 0.00 | Planning long-term holding for strategic purpose | N/A |
| KA IMAGING INC. | 0.00 | 43,338.00 | 0.00 | 0.00 | Planning long-term holding for strategic purpose | N/A |
| MOOV INC. | 0.00 | 0.00 | 27,862,839.00 | 0.00 | Planning long-term holding for strategic purpose | N/A |
| Illumina Fund I, L.P. | 0.00 | 5,406,378.00 | 0.00 | 0.00 | Planning long-term holding for strategic purpose | N/A |
| ACQIS Technology, Inc. | 0.00 | 0.00 | 138,600.00 | 0.00 | Planning long-term holding for strategic purpose | N/A |
| Beijing Oriental Electronics Industry Co., Ltd | 0.00 | 0.00 | 180,000.00 | 0.00 | Planning long-term holding for strategic purpose | N/A |
| Dongfang Xinchuang (Beijing) Automobile Technology Co., Ltd. | 0.00 | 0.00 | 1,070,941.00 | 0.00 | Planning long-term holding for strategic purpose | N/A |
| Daily Strategy Limited | 0.00 | 201,231.00 | 0.00 | 0.00 | Planning long-term holding for | N/A |
strategic purpose
Other notes: N/A
17. Long-term Receivables
(1) List of Long-term Receivables
Unit: RMB
| Item | Ending balance | Beginning balance | Interval of discount rate | ||||
| Carrying amount | Provision for impairment | Carrying value | Carrying amount | Provision for impairment | Carrying value | ||
| Financing lease accounts | 484,461.00 | 0.00 | 484,461.00 | 3,341,844.00 | 0.00 | 3,341,844.00 | 4.2%-4.75% |
| Of which: unrealized financing income | -15,214.00 | 0.00 | -15,214.00 | -1,075,188.00 | 0.00 | -1,075,188.00 | 4.2%-4.75% |
| Installment sales of commodities | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | N/A |
| Installment supply of services | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | N/A |
| Others | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | N/A |
| Total | 484,461.00 | 0.00 | 484,461.00 | 3,341,844.00 | 0.00 | 3,341,844.00 | |
(2) Disclosure by Withdrawal Methods for Bad Debts
Unit: RMB
| Category | Ending balance | Beginning balance | ||||||||
| Carrying amount | Provision for impairment | Carrying value | Carrying amount | Provision for impairment | Carrying value | |||||
| Amount | Proportion | Amount | Withdrawal proportion | Amount | Proportion | Amount | Withdrawal proportion | |||
| Bad debt provision separately accrued | 484,461.00 | 100.00% | 0.00 | 0.00% | 484,461.00 | 3,341,844.00 | 100.00% | 0.00 | 0.00% | 3,341,844.00 |
| Of which: | ||||||||||
| Withdrawal of bad debt provision by group | 0.00 | 0.00% | 0.00 | 0.00% | 0.00 | 0.00 | 0.00% | 0.00 | 0.00% | 0.00 |
| Of which: | ||||||||||
| Total | 484,461.00 | 100.00% | 0.00 | 0.00% | 484,461.00 | 3,341,844.00 | 100.00% | 0.00 | 0.00% | 3,341,844.00 |
Category name of bad debt provision accrued by item: Customer provision by item
Unit: RMB
| Name | Beginning balance | Ending balance | ||||
| Carrying amount | Provision for impairment | Carrying amount | Provision for impairment | Withdrawal proportion | Reason for withdrawal | |
| Customer provision by item | 3,341,844.00 | 0.00 | 484,461.00 | 0.00 | 100.00% | Bad debt without provision |
| Total | 3,341,844.00 | 0.00 | 484,461.00 | 0.00 | ||
Withdrawal of bad debt provision by adopting the general mode of expected credit loss
Unit: RMB
| Provision for impairment | Phase I | Phase II | Phase III | Total |
| Expected credit loss in the next 12 months | Lifetime expected credit loss (without credit impairment) | Lifetime expected credit loss (with credit impairment) | ||
| Balance of 1 January 2024 | 0.00 | 0.00 | 0.00 | 0.00 |
| Balance of 1 January 2024 in the Current Period | ||||
| - Transfer to Phase II | 0.00 | 0.00 | 0.00 | 0.00 |
| - Transfer to Phase III | 0.00 | 0.00 | 0.00 | 0.00 |
| - Reverse to Phase II | 0.00 | 0.00 | 0.00 | 0.00 |
| - Reverse to Phase I | 0.00 | 0.00 | 0.00 | 0.00 |
| Withdrawal of the current period | 0.00 | 0.00 | 0.00 | 0.00 |
| Reversal of the current period | 0.00 | 0.00 | 0.00 | 0.00 |
| Amount charged-off for the current period | 0.00 | 0.00 | 0.00 | 0.00 |
| Amount written-off for the current period | 0.00 | 0.00 | 0.00 | 0.00 |
| Other changes | 0.00 | 0.00 | 0.00 | 0.00 |
| Balance of 30 June 2024 | 0.00 | 0.00 | 0.00 | 0.00 |
The basis for the division of each phase and the withdrawal proportion of bad debt provisionNot applicable
(3) Bad Debt Provision Withdrawal, Reversed or Recovered in the Current Period
Unit: RMB
| Category | Beginning balance | Changes in the Reporting Period | Ending balance | |||
| Withdrawal | Reversal or recovery | Charged-off/Written-off | Others | |||
| N/A | ||||||
Of which the bad debt provision reversed or recovered with significant amount during the Reporting Period:
Unit: RMB
| Subsidiary | Amount reversed or recovered | Reason for reversal | Way of recovery | Basis and rationality of determining the original withdrawal proportion of bad debt provision |
| N/A |
Other notes:
N/A
(4) Status of Long-term Receivables Written-off in Current Period
Unit: RMB
| Item | Amount verified |
| Long-term receivables actually written off | 0.00 |
Of which the verification of significant long-term receivables:
Unit: RMB
| Subsidiary | Nature | Amount verified | Reason for verification | Verification procedures performed | Whether generated from connected transactions |
| N/A |
Notes to the verification of long-term receivables:
N/A
18. Long-term Equity Investment
Unit: RMB
| Investee | Beginning balance (carrying value) | Beginning balance of impairment provision | Increase/decrease | Ending balance (carrying value) | Ending balance of dimpairment provision | |||||||
| Additional investment | Reduced investment | Profit and loss on investments confirmed according to equity law | Adjustment of other comprehensive income | Other equity movements | Declared distribution of cash dividends or profits | Withdrawal of impairment provision | Others | |||||
| I. Joint Ventures | ||||||||||||
| Chongqing Maite Optoelectronics Co., Ltd. | 400,366,833.00 | 0.00 | 0.00 | 0.00 | 4,112,595.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 404,479,428.00 | 0.00 |
| Semicon Light (China) Company Limited | 8,993.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 56.00 | 9,049.00 | 0.00 |
| Sub-total | 400,375,826.00 | 0.00 | 0.00 | 0.00 | 4,112,595.00 | 0.00 | 0.00 | 0.00 | 0.00 | 56.00 | 404,488,477.00 | 0.00 |
| II. Associated Enterprises | ||||||||||||
| Beijing Nissin Electronic Precision Components Co., Ltd. | 3,221,178.00 | - | - | - | 569,550.00 | - | - | - | - | - | 3,790,728.00 | 0.00 |
| Beijing Nittan Electronic Co., Ltd. | 74,829,490.00 | 0.00 | 0.00 | 0.00 | -630,944.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 74,198,546.00 | 0.00 |
| TPV Display Technology (China) Co., Ltd. | 32,051,629.00 | 0.00 | 0.00 | 0.00 | 617,050.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 32,668,679.00 | 0.00 |
| Beijing Xindongneng Investment Fund (Limited Partnership) | 1,864,768,203.00 | - | - | - | -241,520,924.00 | -23,632,921.00 | - | -328,908,672.00 | - | - | 1,270,705,686.00 | - |
| Beijing Xindongneng Investment Management Co., Ltd. | 16,217,385.00 | 0.00 | 0.00 | 0.00 | 3,077,385.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 19,294,770.00 | 0.00 |
| Beijing Xloong Technologies Co., Ltd. | 20,502,397.00 | 0.00 | 0.00 | 0.00 | -457,971.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 20,044,426.00 | 0.00 |
| Beijing Chuangxin Industrial Investment Co., Ltd. | 236,170,218.00 | 0.00 | 0.00 | 0.00 | 14,976,232.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 251,146,450.00 | 0.00 |
| BEHC Industrial Investment Co., Ltd. | 385,752,159.00 | 0.00 | 27,901,400.00 | 0.00 | 253,406.00 | -7,197,883.00 | 0.00 | 0.00 | 0.00 | 0.00 | 406,709,082.00 | 0.00 |
| Guoke BOE (Shanghai) Equity Investment Management Co., Ltd. | 3,519,212.00 | 0.00 | 0.00 | 0.00 | 634,771.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 4,153,983.00 | 0.00 |
| BOE Art Cloud Technology Co., Ltd. | 432,471,471.00 | 0.00 | 0.00 | 0.00 | 2,574,417.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 435,045,888.00 | 0.00 |
| Beijing Electronic Digital Intelligence Technology Co., Ltd. | 19,491,687.00 | 0.00 | 9,450,000.00 | 0.00 | -4,476,479.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 24,465,208.00 | 0.00 |
| Beijing Digital TV National Engineering Laboratory Co., | 3,347,805.00 | 0.00 | 0.00 | 0.00 | -164,969.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 3,182,836.00 | 0.00 |
| Ltd. | ||||||||||||
| Erdos BOE Energy Investment Co., Ltd. | 1,030,485,762.00 | 777,858,312.00 | 0.00 | 0.00 | -931,767.00 | 0.00 | 170,648.00 | 0.00 | 0.00 | 0.00 | 1,029,724,643.00 | 777,858,312.00 |
| Hefei Xin Jing Yuan Electronic Materials Co., Ltd. | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Tianjin Xianzhilian Investment Centre (Limited Partnership) | 1,875,744,723.00 | 0.00 | 0.00 | -14,197,861.00 | -59,837,999.00 | 0.00 | 0.00 | -926,578.00 | 0.00 | 0.00 | 1,800,782,285.00 | 0.00 |
| Tianjin Xianzhilian Investment Management Centre (Limited Partnership) | 19,006,101.00 | 0.00 | 0.00 | 0.00 | -12,690,479.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 6,315,622.00 | 0.00 |
| Beijing Xianzhilian Phase II Venture Capital Funds (Limited Partnership) | 97,565,278.00 | 0.00 | 99,000,000.00 | 0.00 | -8,969,345.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 187,595,933.00 | 0.00 |
| Beijing Xianzhilian Investment Management Centre (Limited Partnership) | 3,484,009.00 | 0.00 | 0.00 | 0.00 | 2,025.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 3,486,034.00 | 0.00 |
| Beijing Yandong Microelectronic Co., Ltd. | 1,224,255,213.00 | 0.00 | 0.00 | 0.00 | -5,026,184.00 | -11,901.00 | 216,979.00 | 0.00 | 0.00 | 0.00 | 1,219,434,107.00 | 0.00 |
| Biochain (Beijing) Science-Technology In.c | 360,884,334.00 | 0.00 | 0.00 | 0.00 | -7,027,268.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 353,857,066.00 | 0.00 |
| Beijing BOE Microbial Technology Co., Ltd. | 0.00 | 0.00 | 0.00 | 0.00 | -6,976,868.00 | 0.00 | 16,719,935.00 | 0.00 | 0.00 | 0.00 | 9,743,067.00 | 0.00 |
| Ziyang Shuzhi Health Technology Co., Ltd. | 994,924.00 | 0.00 | 0.00 | 0.00 | -24,227.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 970,697.00 | 0.00 |
| Beijing Houji Zhilian Information Technology Co., Ltd. | 6,740,778.00 | 0.00 | 0.00 | 0.00 | 86,626.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 6,827,404.00 | 0.00 |
| BOE Digital Technology Co., Ltd. | 36,125,749.00 | 0.00 | 0.00 | 0.00 | 1,025,394.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 37,151,143.00 | 0.00 |
| Chongqing BOE Smart Private Equity Investment Fund Partnership (Limited Partnership) | 134,033,870.00 | 0.00 | 0.00 | 0.00 | -1,290,367.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 132,743,503.00 | 0.00 |
| Anhong Technology (Suzhou) Co., Ltd. | 434,151.00 | 0.00 | 3,109,091.00 | 0.00 | -2,087,996.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1,455,246.00 | 0.00 |
| Jinchuang (Beijing) Equity Investment Fund Center | 356,400,000.00 | 0.00 | 0.00 | 0.00 | -8,179,024.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 348,220,976.00 | 0.00 |
| Dongfang Juzhi (Beijing) Technology Innovation Co., Ltd. | 0.00 | 0.00 | 44,444,400.00 | 0.00 | -3,840,582.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 40,603,818.00 | 0.00 |
| Cnoga Medical Ltd. | 0.00 | 281,611,749.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 283,365,187.00 |
| New On Technology Co.Ltd. | 0.00 | 2,193,489.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 2,209,221.00 |
| Hefei Jiangcheng Technology Co., Ltd. | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| VusionGroup SA | 5,092,823,075.00 | 0.00 | 0.00 | 0.00 | -23,416,744.00 | 0.00 | 0.00 | -11,878,816.00 | 0.00 | -29,676,422.00 | 5,027,851,093.00 | 0.00 |
| Sub-total | 13,331,320,801.00 | 1,061,663,550.00 | 183,904,891.00 | -14,197,861.00 | -363,733,281.00 | -30,842,705.00 | 17,107,562.00 | -341,714,066.00 | - | -29,676,422.00 | 12,752,168,919.00 | 1,063,432,720.00 |
| Total | 13,731,696,627.00 | 1,061,663,550.00 | 183,904,891.00 | -14,197,861.00 | -359,620,686.00 | -30,842,705.00 | 17,107,562.00 | -341,714,066.00 | - | -29,676,366.00 | 13,156,657,396.00 | 1,063,432,720.00 |
The recoverable amount is determined based on the net amount of the fair value minus disposal costs
□Applicable ?Not applicable
The recoverable amount is determined by the present value of the expected future cash flow
□Applicable ?Not applicable
The reason for the discrepancy between the foregoing information and the information used in the impairment tests in prior years or external informationN/AThe reason for the discrepancy between the information used in the Company’s impairment tests in prior years and the actual situation of those yearsN/AOther notes:
N/A
19. Other Non-current Financial Assets
Unit: RMB
| Item | Ending balance | Beginning balance |
| Equity investments | 2,307,839,682.00 | 2,253,778,325.00 |
| Total | 2,307,839,682.00 | 2,253,778,325.00 |
Other notes:
N/A
20. Investment Property
(1) Investment Property Adopted the Cost Measurement Mode
?Applicable □ Not applicable
Unit: RMB
| Item | Houses and buildings | Land use right | Construction in Progress | Total |
| I. Original Carrying Value | ||||
| 1. Beginning Balance | 1,130,308,269.00 | 785,342,177.00 | 100,475,150.00 | 2,016,125,596.00 |
| 2. Increased Amount of the Period | 61,029,830.00 | 0.00 | 18,976,312.00 | 80,006,142.00 |
| (1) Outsourcing | 0.00 | 0.00 | 18,976,312.00 | 18,976,312.00 |
| (2) Transfer from Inventory/ Fixed Assets/ Construction in Progress | 61,029,830.00 | 0.00 | 0.00 | 61,029,830.00 |
| (3) Business Combination Increase | 0.00 | 0.00 | 0.00 | 0.00 |
| 3. Decreased Amount of the Period | 1,525,174.00 | 0.00 | 0.00 | 1,525,174.00 |
| (1) Disposal | 0.00 | 0.00 | 0.00 | |
| (2) Other Transfer | 1,525,174.00 | 0.00 | 0.00 | 1,525,174.00 |
| 4. Ending Balance | 1,189,812,925.00 | 785,342,177.00 | 119,451,462.00 | 2,094,606,564.00 |
| II. Accumulative Depreciation and Accumulative Amortization | ||||
| 1. Beginning Balance | 407,710,469.00 | 195,861,681.00 | 0.00 | 603,572,150.00 |
| 2. Increased Amount of the Period | 56,724,930.00 | 8,163,721.00 | 0.00 | 64,888,651.00 |
| (1) Withdrawal or | 56,724,930.00 | 8,163,721.00 | 0.00 | 64,888,651.00 |
| Amortization | ||||
| 3. Decreased Amount of the Period | 30,090,816.00 | 0.00 | 0.00 | 30,090,816.00 |
| (1) Disposal | 28,969,194.00 | 0.00 | 0.00 | 28,969,194.00 |
| (2) Other Transfer | 1,121,622.00 | 0.00 | 0.00 | 1,121,622.00 |
| 4. Ending Balance | 434,344,583.00 | 204,025,402.00 | 0.00 | 638,369,985.00 |
| III. Depreciation Reserves | ||||
| 1. Beginning Balance | ||||
| 2. Increased Amount of the Period | 0.00 | 0.00 | 0.00 | 0.00 |
| (1) Withdrawal | 0.00 | 0.00 | 0.00 | 0.00 |
| 3. Decreased Amount of the Period | 0.00 | 0.00 | 0.00 | 0.00 |
| (1) Disposal | 0.00 | 0.00 | 0.00 | 0.00 |
| (2) Other Transfer | 0.00 | 0.00 | 0.00 | 0.00 |
| 4. Ending Balance | 0.00 | 0.00 | 0.00 | 0.00 |
| IV. Carrying value | ||||
| 1. Ending Carrying Value | 755,468,342.00 | 581,316,775.00 | 119,451,462.00 | 1,456,236,579.00 |
| 2. Beginning Carrying Value | 722,597,800.00 | 589,480,496.00 | 100,475,150.00 | 1,412,553,446.00 |
The recoverable amount is determined based on the net amount of the fair value minus disposal costs
□Applicable ?Not applicable
The recoverable amount is determined by the present value of the expected future cash flow
□Applicable ?Not applicable
The reason for the discrepancy between the foregoing information and the information used in the impairment tests in prior years orexternal informationN/AThe reason for the discrepancy between the information used in the Company’s impairment tests in prior years and the actual situationof those yearsN/AOther notes:
N/A
(2) Investment Property Adopted the Fair Value Measurement Mode
□Applicable ?Not applicable
(3) Projects Converted to Investment Properties and Measured at Fair Value
Unit: RMB
| Item | Accounting item before conversion | Amount | Reason for conversion | Approval procedure | Impact on gain and loss | Impact on other comprehensive income |
| N/A |
(4) Investment Property with Certificate of Title Uncompleted
Unit: RMB
| Item | Carrying value | Reason |
| N/A |
Other notes:
N/A
21. Fixed Assets
Unit: RMB
| Item | Ending balance | Beginning balance |
| Fixed assets | 211,615,521,758.00 | 210,371,476,524.00 |
| Disposal of fixed assets | 0.00 | 0.00 |
| Total | 211,615,521,758.00 | 210,371,476,524.00 |
(1) List of Fixed Assets
Unit: RMB
| Item | Buildings and structures | Equipment | Others | Total |
| I. Original Carrying Value | ||||
| 1. Beginning Balance | 75,988,186,206.00 | 321,291,899,960.00 | 14,562,205,110.00 | 411,842,291,276.00 |
| 2. Increased Amount of the Period | 516,203,879.00 | 18,160,911,695.00 | 1,090,786,922.00 | 19,767,902,496.00 |
| (1) Purchase | 2,279,393.00 | 432,031,932.00 | 740,513,240.00 | 1,174,824,565.00 |
| (2) Transfer from Construction in Progress | 513,835,241.00 | 17,733,096,269.00 | 350,726,497.00 | 18,597,658,007.00 |
| (3) Business Combination Increase | 0.00 | 0.00 | 0.00 | 0.00 |
| (4) Written down with Government Grants | 0.00 | -3,754,686.00 | 0.00 | -3,754,686.00 |
| (5) Exchange Difference on Translating Foreign Operations | 89,245.00 | -461,820.00 | -452,815.00 | -825,390.00 |
| 3. Decreased Amount of the Period | 100,130,579.00 | 373,060,175.00 | 167,211,284.00 | 640,402,038.00 |
| (1) Disposal or Scrap | 38,938,601.00 | 325,634,663.00 | 163,944,561.00 | 528,517,825.00 |
| (2) Transfer from Construction in Progress | 0.00 | 47,425,512.00 | 3,266,723.00 | 50,692,235.00 |
| (3) Transfer from investment properties | 61,191,978.00 | 0.00 | 0.00 | 61,191,978.00 |
| 4. Ending Balance | 76,404,259,506.00 | 339,079,751,480.00 | 15,485,780,748.00 | 430,969,791,734.00 |
| II. Accumulated amortization | ||||
| 1. Beginning Balance | 12,031,057,846.00 | 177,593,093,857.00 | 9,837,849,835.00 | 199,462,001,538.00 |
| 2. Increased Amount of the Period | 1,039,638,798.00 | 16,142,503,290.00 | 1,113,883,632.00 | 18,296,025,720.00 |
| (1) Withdrawal | 1,039,576,265.00 | 16,143,625,911.00 | 1,114,443,779.00 | 18,297,645,955.00 |
| (2) Discrepancy on translating foreign operations | 62,533.00 | -1,122,621.00 | -560,147.00 | -1,620,235.00 |
| 3. Decreased Amount of the Period | 195,989.00 | 253,629,470.00 | 120,847,480.00 | 374,672,939.00 |
| (1) Disposal or Scrap | 0.00 | 224,203,372.00 | 119,108,256.00 | 343,311,628.00 |
| (2) Transfer from Construction in Progress | 0.00 | 29,426,098.00 | 1,739,224.00 | 31,165,322.00 |
| (3) Transfer from investment properties | 195,989.00 | 0.00 | 0.00 | 195,989.00 |
| 4. Ending Balance | 13,070,500,655.00 | 193,481,967,677.00 | 10,830,885,987.00 | 217,383,354,319.00 |
| III. Depreciation Reserves | ||||
| 1. Beginning Balance | 34,480.00 | 1,738,196,473.00 | 270,582,261.00 | 2,008,813,214.00 |
| 2. Increased Amount of the Period | 0.00 | 15,713,506.00 | 232,918.00 | 15,946,424.00 |
| (1) Withdrawal | 0.00 | 15,713,506.00 | 232,918.00 | 15,946,424.00 |
| 3. Decreased Amount of the Period | 0.00 | 25,327,636.00 | 28,516,345.00 | 53,843,981.00 |
| (1) Disposal or Scrap | 0.00 | 25,327,636.00 | 28,497,678.00 | 53,825,314.00 |
| (2) Transfer from Construction in Progress | 0.00 | 0.00 | 18,667.00 | 18,667.00 |
| 4. Ending Balance | 34,480.00 | 1,728,582,343.00 | 242,298,834.00 | 1,970,915,657.00 |
| IV. Carrying value | ||||
| 1. Ending Carrying Value | 63,333,724,371.00 | 143,869,201,460.00 | 4,412,595,927.00 | 211,615,521,758.00 |
| 2. Beginning Carrying Value | 63,957,093,880.00 | 141,960,609,630.00 | 4,453,773,014.00 | 210,371,476,524.00 |
(2) Temporarily Idle Fixed Assets
Unit: RMB
| Item | Original carrying value | Accumulated depreciation | Impairment provision | Carrying value | Note |
| N/A |
(3) Fixed Assets Leased out by Operation Lease
Unit: RMB
| Item | Ending carrying value |
| Fixed Assets Leased out from Operation Lease | 0.00 |
(4) List of Fixed Assets with Certificate of Title Uncompleted
Unit: RMB
| Item | Carrying value | Reason |
| N/A |
Other notes:
On 30 June 2024, the total book value of fixed assets without certificate of title was RMB1,868,675,689.00, and the certificate of titleis still being processed.
(5) Impairment Test of Fixed Assets
?Applicable □ Not applicableThe recoverable amount is determined based on the net amount of the fair value minus disposal costs?Applicable □ Not applicable
Unit: RMB
| Item | Carrying value | Recoverable amount | Impairment amount | Determination method of fair value and disposal expenses | Key parameters | Basis for determining key parameters |
| Fixed assets | 15,946,424.00 | 0.00 | 15,946,424.00 | Estimation based on market conditions | Fair value | Business research |
| Total | 15,946,424.00 | 0.00 | 15,946,424.00 |
The recoverable amount is determined by the present value of the expected future cash flow
□Applicable ?Not applicable
The reason for the discrepancy between the foregoing information and the information used in the impairment tests in prior years orexternal informationN/AThe reason for the discrepancy between the information used in the Company’s impairment tests in prior years and the actual situationof those yearsN/AOther notes:
N/A
(6) Proceeds from Disposal of Fixed Assets
Unit: RMB
| Item | Ending balance | Beginning balance |
| N/A | 0.00 | 0.00 |
| Total | 0.00 | 0.00 |
Other notes:
N/A
22. Construction in Progress
Unit: RMB
| Item | Ending balance | Beginning balance |
| Construction in Progress | 18,750,692,333.00 | 29,670,115,546.00 |
| Engineering materials | 0.00 | 0.00 |
| Total | 18,750,692,333.00 | 29,670,115,546.00 |
(1) List of Construction in Progress
Unit: RMB
| Item | Ending balance | Beginning balance | ||||
| Carrying amount | Impairment provision | Carrying value | Carrying amount | Impairment provision | Carrying value | |
| Chongqing’s 6th Generation AMOLED (Flexible) Production Line Project | 1,400,078,964.00 | 0.00 | 1,400,078,964.00 | 15,573,483,601.00 | 0.00 | 15,573,483,601.00 |
| Others | 17,427,962,075.00 | 77,348,706.00 | 17,350,613,369.00 | 14,173,980,651.00 | 77,348,706.00 | 14,096,631,945.00 |
| Total | 18,828,041,039.00 | 77,348,706.00 | 18,750,692,333.00 | 29,747,464,252.00 | 77,348,706.00 | 29,670,115,546.00 |
(2) Changes in Significant Construction in Progress during the Reporting Period
Unit: RMB
| Item | Budget | Beginning balance | Increased amount | Transferred in fixed assets | Other decreased amount | Ending balance | Proportion of accumulative investment in constructions to budget | Job schedule | Accumulative amount of interest capitalization | Of which: amount of capitalized interests for the Reporting Period | Capitalization rate of interests for the Reporting Period | Capital resources |
| N/A | ||||||||||||
| Total |
(3) Provisions for Impairment of Construction in Progress during the Reporting Period
Unit: RMB
| Item | Beginning balance | Increase | Decrease | Ending balance | Reason for withdrawal |
| Engineering projects, and machinery equipment | 77,348,706.00 | 0.00 | 0.00 | 77,348,706.00 | The project is in an idle state and cannot continue to be used, or there are no plans to use it temporarily |
| Total | 77,348,706.00 | 0.00 | 0.00 | 77,348,706.00 | -- |
Other notes: N/A
(4) Impairment Test of Construction in Progress
□Applicable ?Not applicable
(5) Engineering Materials
Unit: RMB
| Item | Ending balance | Beginning balance | ||||
| Carrying amount | Impairment provision | Carrying value | Carrying amount | Impairment provision | Carrying value | |
| N/A | ||||||
| Total | 0.00 | 0.00 | ||||
Other notes:
N/A
23. Productive Living Assets
(1) Productive Living Assets Adopting Cost Measurement Mode
□Applicable ?Not applicable
(2) Impairment Testing of Productive Living Assets Adopting Cost Measurement Mode
□Applicable ?Not applicable
(3) Productive Living Assets Adopting Fair Value Measurement Mode
□Applicable ?Not applicable
24. Oil and Gas Assets
□Applicable ?Not applicable
25. Right-of-use Assets
(1) List of Right-of-use Assets
Unit: RMB
| Item | Buildings and structures | Equipment | Others | Total |
| I. Original Carrying Value | ||||
| 1. Beginning Balance | 869,873,086.00 | 15,789,766.00 | 194,845,163.00 | 1,080,508,015.00 |
| 2. Increased Amount of the Period | 184,341,852.00 | 0.00 | 664,220.00 | 185,006,072.00 |
| (1) Increase | 203,399,410.00 | 0.00 | 729,815.00 | 204,129,225.00 |
| (2) Exchange rate fluctuation | -19,057,558.00 | 0.00 | -65,595.00 | -19,123,153.00 |
| 3. Decreased Amount of the Period | 14,814,383.00 | 0.00 | 0.00 | 14,814,383.00 |
| 4. Ending Balance | 1,039,400,555.00 | 15,789,766.00 | 195,509,383.00 | 1,250,699,704.00 |
| II. Accumulated amortization | ||||
| 1. Beginning Balance | 319,601,077.00 | 6,410,099.00 | 30,152,494.00 | 356,163,670.00 |
| 2. Increased Amount of the Period | 107,668,692.00 | 1,681,813.00 | 5,213,388.00 | 114,563,893.00 |
| (1) Withdrawal | 115,326,155.00 | 1,681,813.00 | 5,232,939.00 | 122,240,907.00 |
| (2) Exchange rate fluctuation | -7,657,463.00 | 0.00 | -19,551.00 | -7,677,014.00 |
| 3. Decreased Amount of the Period | 416,070.00 | 0.00 | 0.00 | 416,070.00 |
| (1) Disposal | 416,070.00 | 0.00 | 0.00 | 416,070.00 |
| 4. Ending Balance | 426,853,699.00 | 8,091,912.00 | 35,365,882.00 | 470,311,493.00 |
| III. Depreciation Reserves | ||||
| 1. Beginning Balance | 0.00 | 0.00 | 0.00 | 0.00 |
| 2. Increased Amount of the Period | 0.00 | 0.00 | 0.00 | 0.00 |
| (1) Withdrawal | 0.00 | 0.00 | 0.00 | 0.00 |
| 3. Decreased Amount of the Period | 0.00 | 0.00 | 0.00 | 0.00 |
| (1) Disposal | 0.00 | 0.00 | 0.00 | 0.00 |
| 4. Ending Balance | 0.00 | 0.00 | 0.00 | 0.00 |
| IV. Carrying value | ||||
| 1. Ending Carrying Value | 612,546,856.00 | 7,697,854.00 | 160,143,501.00 | 780,388,211.00 |
| 2. Beginning Carrying Value | 550,272,009.00 | 9,379,667.00 | 164,692,669.00 | 724,344,345.00 |
(2) Impairment Test of Right-of-use Assets
□Applicable ?Not applicable
Other notes:
N/A
26. Intangible Assets
(1) List of Intangible Assets
Unit: RMB
| Item | Land use right | Patent | Non-patent technology | Patent rights and proprietary technologies | Computer software | Others | Total |
| I. Original Carrying Value | |||||||
| 1. Beginning Balance | 7,924,529,154.00 | 0.00 | 0.00 | 6,238,659,015.00 | 2,277,221,781.00 | 816,081,655.00 | 17,256,491,605.00 |
| 2. Increased Amount of the Period | 371,856,847.00 | 0.00 | 0.00 | 129,434,535.00 | 74,740,833.00 | 235,935.00 | 576,268,150.00 |
| (1) Purchase | 370,661,972.00 | 0.00 | 0.00 | 21,678,960.00 | 20,837,413.00 | 0.00 | 413,178,345.00 |
| (2) Internal R&D | 0.00 | 0.00 | 0.00 | 101,813,566.00 | 0.00 | 0.00 | 101,813,566.00 |
| (3) Business Combination Increase | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| (4) Transfer from construction in progress | 0.00 | 0.00 | 0.00 | 6,205,684.00 | 53,842,285.00 | 0.00 | 60,047,969.00 |
| (5) Exchange Difference on Translating Foreign Operations | 1,194,875.00 | 0.00 | 0.00 | -263,675.00 | 61,135.00 | 235,935.00 | 1,228,270.00 |
| 3. Decreased Amount of the Period | 0.00 | 0.00 | 0.00 | 0.00 | 460,860.00 | 0.00 | 460,860.00 |
| (1) Disposal | 0.00 | 0.00 | 0.00 | 0.00 | 356,435.00 | 0.00 | 356,435.00 |
| (2) Others | 0.00 | 0.00 | 0.00 | 0.00 | 104,425.00 | 0.00 | 104,425.00 |
| 4. Ending Balance | 8,296,386,001.00 | 0.00 | 0.00 | 6,368,093,550.00 | 2,351,501,754.00 | 816,317,590.00 | 17,832,298,895.00 |
| II. Accumulated amortization | |||||||
| 1. Beginning Balance | 830,130,337.00 | 0.00 | 0.00 | 3,121,888,717.00 | 1,410,837,304.00 | 328,049,547.00 | 5,690,905,905.00 |
| 2. Increased Amount of the Period | 106,213,320.00 | 0.00 | 0.00 | 317,721,647.00 | 123,218,647.00 | 18,778,086.00 | 565,931,700.00 |
| (1) Withdrawal | 106,205,910.00 | 0.00 | 0.00 | 317,985,322.00 | 123,236,014.00 | 18,646,227.00 | 566,073,473.00 |
| (2) Exchange difference on translating foreign operations | 7,410.00 | 0.00 | 0.00 | -263,675.00 | -17,367.00 | 131,859.00 | -141,773.00 |
| 3. Decreased Amount of the Period | 0.00 | 0.00 | 0.00 | 0.00 | 178,051.00 | 0.00 | 178,051.00 |
| (1) Disposal | 0.00 | 0.00 | 0.00 | 0.00 | 178,051.00 | 0.00 | 178,051.00 |
| 4. Ending Balance | 936,343,657.00 | 0.00 | 0.00 | 3,439,610,364.00 | 1,533,877,900.00 | 346,827,633.00 | 6,256,659,554.00 |
| III. Depreciation Reserves | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| 1. Beginning Balance | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 2. Increased Amount of the Period | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| (1) Withdrawal | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 3. Decreased Amount of the Period | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| (1) Disposal | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 4. Ending Balance | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| IV. Carrying value | |||||||
| 1. Ending Carrying Value | 7,360,042,344.00 | 0.00 | 0.00 | 2,928,483,186.00 | 817,623,854.00 | 469,489,957.00 | 11,575,639,341.00 |
| 2. Beginning Carrying Value | 7,094,398,817.00 | 0.00 | 0.00 | 3,116,770,298.00 | 866,384,477.00 | 488,032,108.00 | 11,565,585,700.00 |
The proportion of intangible assets formed from the internal R&D of the Company at the period-end to the ending balance of intangible assets was 0.88%.
(2) Data Resources Recognized as Intangible Assets
Unit: RMB
| Item | Purchased data resources | Self-processed data resources | Data resources acquired by other means | Total |
| I. Original Carrying Value | ||||
| 1. Beginning Balance | 0.00 | 0.00 | 0.00 | 0.00 |
| 2. Increased Amount of the Period | 0.00 | 0.00 | 0.00 | 0.00 |
| Of which: Purchase | 0.00 | 0.00 | 0.00 | 0.00 |
| Internal R&D | 0.00 | 0.00 | 0.00 | 0.00 |
| Other increase | 0.00 | 0.00 | 0.00 | 0.00 |
| 3. Decreased Amount of the Period | 0.00 | 0.00 | 0.00 | 0.00 |
| Of which: Disposal | 0.00 | 0.00 | 0.00 | 0.00 |
| Invalid and derecognition | 0.00 | 0.00 | 0.00 | 0.00 |
| Other decrease | 0.00 | 0.00 | 0.00 | 0.00 |
| 4. Ending Balance | 0.00 | 0.00 | 0.00 | 0.00 |
| II. Accumulated amortization | ||||
| 1. Beginning Balance | 0.00 | 0.00 | 0.00 | 0.00 |
| 2. Increased Amount of the Period | 0.00 | 0.00 | 0.00 | 0.00 |
| 3. Decreased Amount of the Period | 0.00 | 0.00 | 0.00 | 0.00 |
| Of which: Disposal | 0.00 | 0.00 | 0.00 | 0.00 |
| Invalid and derecognition | 0.00 | 0.00 | 0.00 | 0.00 |
| Other decrease | 0.00 | 0.00 | 0.00 | 0.00 |
| 4. Ending Balance | 0.00 | 0.00 | 0.00 | 0.00 |
| III. Depreciation Reserves | ||||
| 1. Beginning Balance | 0.00 | 0.00 | 0.00 | 0.00 |
| 2. Increased Amount of the Period | 0.00 | 0.00 | 0.00 | 0.00 |
| 3. Decreased Amount of the Period | 0.00 | 0.00 | 0.00 | 0.00 |
| 4. Ending Balance | 0.00 | 0.00 | 0.00 | 0.00 |
| IV. Carrying value | ||||
| 1. Ending Carrying Value | 0.00 | 0.00 | 0.00 | 0.00 |
| 2. Beginning Carrying Value | 0.00 | 0.00 | 0.00 | 0.00 |
N/A
(3) Land Use Right with Certificate of Title Uncompleted
Unit: RMB
| Item | Carrying value | Reason |
| N/A |
Other notes:
N/A
(4) Impairment Test of Intangible Assets
□Applicable ?Not applicable
27. Goodwill
(1) Original Carrying Value of Goodwill
Unit: RMB
| Name of the invested units or events generating goodwill | Beginning balance | Increase | Decrease | Ending balance |
| Formed by business combination | Disposal | |||
| Beijing Yinghe Century Co., Ltd. | 42,940,434.00 | 0.00 | 0.00 | 42,940,434.00 |
| K-Tronics (Suzhou) Technology Co., Ltd. | 8,562,464.00 | 0.00 | 0.00 | 8,562,464.00 |
| Beijing BOE Optoelectronics Technology Co., Ltd. | 4,423,876.00 | 0.00 | 0.00 | 4,423,876.00 |
| BOE Health Investment Management Co., Ltd. | 146,460,790.00 | 0.00 | 0.00 | 146,460,790.00 |
| Chengdu BOE Display Technology Co., Ltd. | 537,038,971.00 | 0.00 | 0.00 | 537,038,971.00 |
| Nanjing BOE Display Technology Co., Ltd. | 155,714,415.00 | 0.00 | 0.00 | 155,714,415.00 |
| United Ultra High-Definition Video(Beijing) Technology Co., Ltd. | 14,285,847.00 | 0.00 | 0.00 | 14,285,847.00 |
| BOE HC Semitek Co., Ltd. | 29,596,088.00 | 0.00 | 0.00 | 29,596,088.00 |
| Total | 939,022,885.00 | 0.00 | 0.00 | 939,022,885.00 |
(2) Provisions for Impairment of Goodwill
Unit: RMB
| Name of the invested units or events generating goodwill | Beginning balance | Increase | Decrease | Ending balance |
| Withdrawal | Disposal | |||
| Beijing BOE Optoelectronics Technology Co., Ltd. | 4,423,876.00 | 0.00 | 0.00 | 4,423,876.00 |
| BOE Health Investment Management Co., Ltd. | 82,137,669.00 | 0.00 | 0.00 | 82,137,669.00 |
| Chengdu BOE Display Technology Co., Ltd. | 147,755,754.00 | 0.00 | 0.00 | 147,755,754.00 |
| Total | 234,317,299.00 | 0.00 | 0.00 | 234,317,299.00 |
(3) Information on the Assets Groups or Combination of Assets Groups which Goodwill Is
| Name | Composition and Basis of the Asset Group or Combination of Asset Groups to which it Belongs | Operating Segment to which it Belongs and Basis | Whether it is Consistent with that of the Prior Years |
| N/A |
Changes in the assets group or combination of assets groups
| Name | Composition before the change | Composition after the change | Objective facts leading to the change and their basis |
| N/A |
Other notes:
N/A
(4) Specific Method of Determining the Recoverable Amount
The recoverable amount is determined based on the net amount of the fair value minus disposal costs
□Applicable ?Not applicable
The recoverable amount is determined by the present value of the expected future cash flow
□Applicable ?Not applicable
The reason for the discrepancy between the foregoing information and the information used in the impairment tests in prior years orexternal informationN/AThe reason for the discrepancy between the information used in the Company’s impairment tests in prior years and the actual situationof those yearsN/A
(5) Completion of Commitments to Results and Corresponding Goodwill ImpairmentWhen goodwill is formed, there is a commitment to the results and the Reporting Period or the period preceding the Reporting Periodis within the commitment period
□Applicable ?Not applicable
Other notes:
N/A
28. Long-term Prepaid Expense
Unit: RMB
| Item | Beginning balance | Increased amount | Amortization amount of the period | Other decreased amount | Ending balance |
| Expenditure on the construction and use of public supporting facilities | 33,002,120.00 | 0.00 | 4,309,059.00 | 0.00 | 28,693,061.00 |
| Expenditure on improvement of operating fixed assets | 56,816,722.00 | 11,435,137.00 | 13,773,158.00 | 67,592.00 | 54,411,109.00 |
| Prepaid technology usage fee | 333,718,713.00 | 25,377,702.00 | 35,471,114.00 | 0.00 | 323,625,301.00 |
| Others | 110,957,009.00 | 31,871,912.00 | 28,445,284.00 | 0.00 | 114,383,637.00 |
| Total | 534,494,564.00 | 68,684,751.00 | 81,998,615.00 | 67,592.00 | 521,113,108.00 |
Other notes:
N/A
29. Deferred Income Tax Assets/Deferred Income Tax Liabilities
(1) Deferred Income Tax Assets that Had not Been Off-set
Unit: RMB
| Item | Ending balance | Beginning balance | ||
| Deductible temporary difference | Deferred income tax assets | Deductible temporary difference | Deferred income tax assets | |
| Provision for impairment of assets | 660,368,851.00 | 110,656,338.00 | 586,093,818.00 | 98,130,637.00 |
| Unrealized profit of internal transactions | 0.00 | 0.00 | 0.00 | 0.00 |
| Deductible loss | 3,260,631,347.00 | 503,316,328.00 | 2,748,927,099.00 | 426,287,990.00 |
| Changes in fair value of other investments in equity instruments | 157,176,947.00 | 23,670,195.00 | 134,711,649.00 | 20,206,748.00 |
| Depreciation of fixed assets | 503,735,579.00 | 80,786,786.00 | 251,343,643.00 | 39,115,495.00 |
| Appraisal increment of | 111,564,614.00 | 27,891,154.00 | 114,341,540.00 | 28,585,385.00 |
| investment in subsidiaries with immovable property | ||||
| Government grants | 64,596,573.00 | 9,689,486.00 | 64,596,573.00 | 9,689,486.00 |
| Leasing liabilities | 555,743,436.00 | 117,339,421.00 | 564,279,038.00 | 119,336,111.00 |
| Others | 54,917,884.00 | 8,563,603.00 | 11,546,811.00 | 2,041,907.00 |
| Total | 5,368,735,231.00 | 881,913,311.00 | 4,475,840,171.00 | 743,393,759.00 |
(2) Deferred Income Tax Liabilities Had not Been Off-set
Unit: RMB
| Item | Ending balance | Beginning balance | ||
| Taxable temporary difference | Deferred tax liabilities | Taxable temporary difference | Deferred tax liabilities | |
| Assets assessment appreciation from business consolidation not under the same control | 1,225,096,685.00 | 264,703,357.00 | 1,745,944,008.00 | 409,875,698.00 |
| Changes in fair value of investment in other debt obligations | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in fair value of other investments in equity instruments | 0.00 | 0.00 | 0.00 | 0.00 |
| Depreciation of fixed assets | 6,860,210,605.00 | 1,034,905,845.00 | 7,154,184,671.00 | 1,077,814,489.00 |
| Long-term equity investment | 1,450,108,164.00 | 282,954,609.00 | 2,113,902,264.00 | 389,497,116.00 |
| Right-of-use assets | 616,034,200.00 | 130,770,564.00 | 600,669,199.00 | 130,538,444.00 |
| Others | 498,413,937.00 | 75,029,097.00 | 203,263,744.00 | 33,430,721.00 |
| Total | 10,649,863,591.00 | 1,788,363,472.00 | 11,817,963,886.00 | 2,041,156,468.00 |
(3) Deferred Income Tax Assets or Liabilities Listed by Net Amount after Off-set
Unit: RMB
| Item | Mutual set-off amount of deferred income tax assets and liabilities at the period-end | Amount of deferred income tax assets or liabilities after off-set at the period-end | Mutual set-off amount of deferred income tax assets and liabilities at the period-begin | Amount of deferred income tax assets or liabilities after off-set at the period-begin |
| Deferred income tax assets | 326,964,354.00 | 554,948,957.00 | 346,516,739.00 | 396,877,020.00 |
| Deferred tax liabilities | 326,964,354.00 | 1,461,399,118.00 | 346,516,739.00 | 1,694,639,729.00 |
(4) List of Unrecognized Deferred Income Tax Assets
Unit: RMB
| Item | Ending balance | Beginning balance |
| Deductible temporary difference | 16,569,787,405.00 | 23,132,234,962.00 |
| Deductible loss | 60,011,655,400.00 | 57,936,466,170.00 |
| Total | 76,581,442,805.00 | 81,068,701,132.00 |
(5) Deductible Losses of Unrecognized Deferred Income Tax Assets Will Due in the Following Years
Unit: RMB
| Year | Investments at the end of the period | Investments at the beginning of the period | Note |
| 2024 | 0.00 | 308,958,033.00 | N/A |
| 2025 | 656,968,309.00 | 883,311,469.00 | N/A |
| 2026 | 1,063,272,576.00 | 1,202,044,391.00 | N/A |
| 2027 | 1,294,424,166.00 | 2,385,376,981.00 | N/A |
| 2028 | 3,436,774,672.00 | 3,527,170,592.00 | N/A |
| 2029 | 6,186,858,455.00 | 5,008,814,339.00 | N/A |
| 2030 | 4,145,228,250.00 | 4,200,121,737.00 | N/A |
| 2031 | 2,708,161,104.00 | 2,586,384,422.00 | N/A |
| 2032 | 22,746,119,647.00 | 23,919,302,827.00 | N/A |
| 2033 | 13,654,845,429.00 | 13,399,325,173.00 | N/A |
| 2034 | 3,847,318,088.00 | 0.00 | N/A |
| Others | 271,684,704.00 | 515,656,206.00 | N/A |
| Total | 60,011,655,400.00 | 57,936,466,170.00 |
Other notes:
N/A
30. Other Non-current Assets
Unit: RMB
| Item | Ending balance | Beginning balance | ||||
| Carrying amount | Impairment provision | Carrying value | Carrying amount | Impairment provision | Carrying value | |
| Contract acquisition costs | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Contract performance costs | 2,318,492.00 | 0.00 | 2,318,492.00 | 0.00 | 0.00 | 0.00 |
| Refund costs receivable | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Contract assets | 20,304,464.00 | 0.00 | 20,304,464.00 | 28,149,072.00 | 0.00 | 28,149,072.00 |
| Imposition of VAT of imported equipment | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Prepaid fixed asset procurement funds | 3,624,703,034.00 | 0.00 | 3,624,703,034.00 | 2,068,302,892.00 | 0.00 | 2,068,302,892.00 |
| Impairment of VAT to be offset | 94,961,569.00 | 0.00 | 94,961,569.00 | 95,942,415.00 | 0.00 | 95,942,415.00 |
| Contract payment in advance | 730,141,502.00 | 0.00 | 730,141,502.00 | 414,936,876.00 | 0.00 | 414,936,876.00 |
| Prepaid loan management fee | 0.00 | 0.00 | 0.00 | 117,280,699.00 | 0.00 | 117,280,699.00 |
| Prepaid production capacity guarantee funds | 1,018,235,405.00 | 0.00 | 1,018,235,405.00 | 1,048,632,965.00 | 0.00 | 1,048,632,965.00 |
| Others | 114,123,767.00 | 0.00 | 114,123,767.00 | 192,673,539.00 | 0.00 | 192,673,539.00 |
| Total | 5,604,788,233.00 | 0.00 | 5,604,788,233.00 | 3,965,918,458.00 | 0.00 | 3,965,918,458.00 |
Other notes:
N/A
31. Assets with Restricted Ownership or Right of Use
Unit: RMB
| Item | Period-end | Period-beginning | ||||||
| Carrying amount | Carrying value | Type of restriction | Status of restriction | Carrying amount | Carrying value | Type of restriction | Status of restriction | |
| Cash at bank | 1,462,511,849.00 | 1,462,511,849.00 | Pledged | Mainly refer to margin deposits pledged for the issuance of bills payable | 1,869,539,464.00 | 1,869,539,464.00 | Pledged | Mainly refer to margin deposits pledged for the issuance of bills payable |
| Notes receivable | 300,980,837.00 | 300,980,837.00 | Pledged | Endorsed transfer with recourse and pledge for issuance of bills payable | 230,354,069.00 | 230,354,069.00 | Pledged | Endorsed transfer with recourse and pledge for issuance of bills payable |
| Inventories | 0.00 | 0.00 | N/A | N/A | 0.00 | 0.00 | N/A | N/A |
| Fixed assets | 216,965,009,882.00 | 118,958,503,207.00 | Pledge | Pledge for guarantee | 237,742,564,332.00 | 136,319,471,935.00 | Pledge | Pledge for guarantee |
| Intangible assets | 1,789,608,694.00 | 1,432,721,541.00 | Pledge | Pledge for guarantee | 1,806,103,571.00 | 1,546,929,316.00 | Pledge | Pledge for guarantee |
| Construction in Progress | 4,956,769,575.00 | 4,956,769,575.00 | Pledge | Pledge for guarantee | 2,925,304,165.00 | 2,925,304,165.00 | Pledge | Pledge for guarantee |
| Investment properties | 120,751,462.00 | 119,581,462.00 | Pledge | Pledge for guarantee | 101,775,150.00 | 100,605,150.00 | Pledge | Pledge for guarantee |
| Total | 225,595,632,299.00 | 127,231,068,471.00 | 244,675,640,751.00 | 142,992,204,099.00 | ||||
Other notes: N/A
32. Short-term Borrowings
(1) Category of Short-term Borrowings
Unit: RMB
| Item | Ending balance | Beginning balance |
| Pledged loans | 252,715,162.00 | 23,498,395.00 |
| Mortgage loans | 0.00 | 0.00 |
| Borrowings secured by guarantee | 1,036,796,786.00 | 1,311,144,222.00 |
| Credit borrowings | 545,314,543.00 | 411,541,917.00 |
| Total | 1,834,826,491.00 | 1,746,184,534.00 |
Notes of the category of short-term borrowings: N/A
(2) Overdue and Outstanding Short-term Borrowings
The amount of the overdue unpaid short-term borrowings at the period-end was RMB0.00, of which the significant overdue unpaidshort-term borrowings are as follows:
Unit: RMB
| Borrower | Ending balance | Interest rate | Overdue time | Overdue charge rate |
| N/A |
Other notes:
N/A
33. Trading Financial Liabilities
Unit: RMB
| Item | Ending balance | Beginning balance |
| Trading financial liabilities | 0.00 | 0.00 |
| Of which: | ||
| Designated as a financial liabilities measured at fair value through profit or loss for the current period | 0.00 | 0.00 |
| Of which: | ||
| Total | 0.00 | 0.00 |
Other notes:
N/A
34. Derivative Financial Liabilities
Unit: RMB
| Item | Ending balance | Beginning balance |
| N/A | ||
| Total | 0.00 | 0.00 |
Other notes:
N/A
35. Notes Payable
Unit: RMB
| Category | Ending balance | Beginning balance |
| Trade acceptance bill | 0.00 | 0.00 |
| Bank acceptance bill | 1,209,368,796.00 | 919,313,033.00 |
| Total | 1,209,368,796.00 | 919,313,033.00 |
The total amount of notes payable that are due but unpaid amounted to RMB0.00 at the end of the current period. There is no reasonwhy they are due but not paid.
36. Accounts Payable
(1) List of Accounts Payable
Unit: RMB
| Item | Ending balance | Beginning balance |
| Payable to related parties | 169,145,985.00 | 114,282,939.00 |
| Payable to third parties | 36,996,744,571.00 | 32,863,320,412.00 |
| Total | 37,165,890,556.00 | 32,977,603,351.00 |
(2) Significant Accounts Payable Aging over One Year or Overdue
Unit: RMB
| Item | Ending balance | Reason for not repayment or carry-over |
| N/A |
Other notes:
N/A
37. Other Payables
Unit: RMB
| Item | Ending balance | Beginning balance |
| Interest payable | 187,914.00 | 175,698.00 |
| Dividends payable | 77,090,381.00 | 39,014,714.00 |
| Other payables | 17,369,394,264.00 | 19,448,570,553.00 |
| Total | 17,446,672,559.00 | 19,487,760,965.00 |
(1) Interest Payable
Unit: RMB
| Item | Ending balance | Beginning balance |
| Interest on long-term borrowings with interest paid by installment and principal paid at maturity | 0.00 | 0.00 |
| Interest on corporate bonds | 0.00 | 0.00 |
| Interest payable on short-term borrowings | 187,914.00 | 175,698.00 |
| Divided as financial liabilities such as preferred shares and perpetual bonds | 0.00 | 0.00 |
| Others | 0.00 | 0.00 |
| Total | 187,914.00 | 175,698.00 |
List of the significant overdue unpaid interest:
Unit: RMB
| Borrower | Overdue amount | Reason |
| N/A |
Other notes:
N/A
(2) Dividends Payable
Unit: RMB
| Item | Ending balance | Beginning balance |
| Ordinary share dividends | 77,090,381.00 | 39,014,714.00 |
| Divided as equity instruments such as preferred shares and perpetual bonds | 0.00 | 0.00 |
| Others | 0.00 | 0.00 |
| Total | 77,090,381.00 | 39,014,714.00 |
Other notes, including significant dividends payable unpaid for over one year, the unpaid reason shall be disclosed:
N/A
(3) Other Payables
1) Other Payables Listed by Nature
Unit: RMB
| Item | Ending balance | Beginning balance |
| Payment for construction and equipment | 11,914,983,586.00 | 13,556,738,142.00 |
| Financial transactions | 3,209,353,067.00 | 3,182,963,067.00 |
| Deposits and guaranteed deposits | 645,935,721.00 | 764,238,522.00 |
| Restricted stock repurchase obligations | 223,580,432.00 | 457,401,616.00 |
| Provision for water, electricity, and logistics fees | 130,283,695.00 | 113,409,651.00 |
| External intermediary fees | 92,981,022.00 | 109,646,050.00 |
| Imposition of VAT of imported equipment | 49,316,340.00 | 148,348,308.00 |
| Others | 1,102,960,401.00 | 1,115,825,197.00 |
| Total | 17,369,394,264.00 | 19,448,570,553.00 |
2) Significant Other Accounts Payable Aging over One Year or Overdue
Unit: RMB
| Item | Ending balance | Reason for not repayment or carry-over |
| N/A |
Other notes:
N/A
38. Advances from Customers
(1) List of Advances from Customers
Unit: RMB
| Item | Ending balance | Beginning balance |
| Advances from third parties | 57,371,402.00 | 94,601,248.00 |
| Advances from related parties | 16,293.00 | 103,733.00 |
| Total | 57,387,695.00 | 94,704,981.00 |
(2) Significant Advances from Customers Aging over One Year or Overdue
Unit: RMB
| Item | Ending balance | Reason for not repayment or carry-over |
| N/A |
Unit: RMB
| Item | Change in amount | Reason(s) |
| N/A |
Other notes:
N/A
39. Contract Liability
Unit: RMB
| Item | Ending balance | Beginning balance |
| Product sales | 2,719,095,139.00 | 3,000,168,620.00 |
| Total | 2,719,095,139.00 | 3,000,168,620.00 |
Significant contract liabilities aging over one year
Unit: RMB
| Item | Ending balance | Reason for not repayment or carry-over |
| N/A |
Significant changes in the amount of carrying value and the reason in the Reporting Period
Unit: RMB
| Item | Change in amount | Reason(s) |
| N/A |
40. Payroll Payable
(1) List of Payroll Payable
Unit: RMB
| Item | Beginning balance | Increase | Decrease | Ending balance |
| I. Short-term salary | 3,044,568,227.00 | 9,496,803,567.00 | 9,057,004,505.00 | 3,484,367,289.00 |
| II. Post-employment benefit-defined contribution plans | 53,121,125.00 | 956,646,078.00 | 953,932,084.00 | 55,835,119.00 |
| III. Termination benefits | 3,221,924.00 | 16,720,686.00 | 18,173,317.00 | 1,769,293.00 |
| IV. Current portion of other benefits | 0.00 | 0.00 | 0.00 | 0.00 |
| Total | 3,100,911,276.00 | 10,470,170,331.00 | 10,029,109,906.00 | 3,541,971,701.00 |
(2) List of Short-term Salary
Unit: RMB
| Item | Beginning balance | Increase | Decrease | Ending balance |
| 1. Salary, bonus, allowance, subsidy | 1,917,285,682.00 | 7,733,092,497.00 | 7,405,158,781.00 | 2,245,219,398.00 |
| 2. Employee welfare | 0.00 | 586,342,370.00 | 586,342,370.00 | 0.00 |
| 3. Social insurance | 37,193,021.00 | 444,892,047.00 | 446,298,687.00 | 35,786,381.00 |
| Of which: Medical insurance premiums | 32,593,030.00 | 404,426,010.00 | 405,451,708.00 | 31,567,332.00 |
| Work-related injury insurance | 2,126,192.00 | 26,171,272.00 | 26,197,047.00 | 2,100,417.00 |
| Maternity insurance | 2,473,799.00 | 14,294,765.00 | 14,649,932.00 | 2,118,632.00 |
| 4. Housing fund | 19,697,119.00 | 521,024,871.00 | 521,991,535.00 | 18,730,455.00 |
| 5. Labor union budget and employee education budget | 1,046,342,699.00 | 209,105,734.00 | 91,906,625.00 | 1,163,541,808.00 |
| 6. Short-term absence with payment | 0.00 | 0.00 | 0.00 | 0.00 |
| 7. Short-term profit sharing plan | 3,475,890.00 | 1,952,002.00 | 4,946,847.00 | 481,045.00 |
| 8. Bonus and welfare fund for staff | 20,553,209.00 | 0.00 | 0.00 | 20,553,209.00 |
| 9. Other short-term remuneration | 20,607.00 | 394,046.00 | 359,660.00 | 54,993.00 |
| Total | 3,044,568,227.00 | 9,496,803,567.00 | 9,057,004,505.00 | 3,484,367,289.00 |
(3) List of Defined Contribution Plans
Unit: RMB
| Item | Beginning balance | Increase | Decrease | Ending balance |
| 1. Basic pension benefits | 31,997,380.00 | 793,734,479.00 | 792,147,025.00 | 33,584,834.00 |
| 2. Unemployment insurance | 1,040,396.00 | 26,777,206.00 | 26,815,657.00 | 1,001,945.00 |
| 3. Annuity | 20,083,349.00 | 136,134,393.00 | 134,969,402.00 | 21,248,340.00 |
| Total | 53,121,125.00 | 956,646,078.00 | 953,932,084.00 | 55,835,119.00 |
Other notes:
N/A
41. Taxes Payable
Unit: RMB
| Item | Ending balance | Beginning balance |
| VAT | 193,871,130.00 | 96,556,759.00 |
| Consumption tax | 0.00 | 0.00 |
| Corporate income tax | 506,474,440.00 | 502,726,541.00 |
| Personal income tax | 30,186,631.00 | 39,311,660.00 |
| City maintenance and construction tax | 262,633,394.00 | 309,488,421.00 |
| Education fees and local education surcharge | 187,955,922.00 | 223,104,253.00 |
| Others | 128,304,630.00 | 145,892,388.00 |
| Total | 1,309,426,147.00 | 1,317,080,022.00 |
Other notes: N/A
42. Liabilities Held for sale
Unit: RMB
| Item | Ending balance | Beginning balance |
| N/A | ||
| Total | 0.00 | 0.00 |
Other notes:
N/A
43. Non-current Liabilities Due within One Year
Unit: RMB
| Item | Ending balance | Beginning balance |
| Current portion of long-term borrowings | 31,315,866,624.00 | 24,221,150,789.00 |
| Current portion of bonds payable | 0.00 | 0.00 |
| Current portion of long-term payables | 34,343,075.00 | 47,178,393.00 |
| Current portion of lease liabilities | 159,238,606.00 | 168,698,260.00 |
| Total | 31,509,448,305.00 | 24,437,027,442.00 |
Other notes:
N/A
44. Other Current Liabilities
Unit: RMB
| Item | Ending balance | Beginning balance |
| Short-term bonds payable | 0.00 | 0.00 |
| Refunds payable | 157,264,840.00 | 137,738,457.00 |
| Warranty provisions | 2,690,263,175.00 | 2,751,418,713.00 |
| Pending changerover output VAT and others | 131,992,989.00 | 190,865,955.00 |
| Others | 6,327,666.00 | 5,750,466.00 |
| Total | 2,985,848,670.00 | 3,085,773,591.00 |
Increase/decrease of the short-term bonds payable:
Unit: RMB
| Bond name | Par value | Coupon rate | Issue date | Bond duration | Issue amount | Beginning balance | Issued in the current period | Interest accrued at par value | Amortization of premium and depreciation | Repaid in the current period | Ending balance | Default or not |
| N/A | ||||||||||||
| Total |
Other notes:
N/A
45. Long-term Borrowings
(1) Category of Long-term Borrowings
Unit: RMB
| Item | Ending balance | Beginning balance |
| Pledged loans | 665,160,758.00 | 699,292,255.00 |
| Mortgage loans | 50,537,150,019.00 | 52,437,635,292.00 |
| Borrowings secured by guarantee | 3,228,690,542.00 | 3,137,557,439.00 |
| Credit borrowings | 58,140,966,989.00 | 65,271,854,036.00 |
| Total | 112,571,968,308.00 | 121,546,339,022.00 |
Note to the category of long-term borrowings:
N/AOther notes, including interest rate range:
The interest rate range for the Group’s long-term RMB borrowings this year is 0.75% to 4.45% (2023: 1% to 4.55%).
46. Bonds Payable
(1) Bonds Payable
Unit: RMB
| Item | Ending balance | Beginning balance |
| N/A | ||
| Total | 0.00 | 0.00 |
(2) Changes of Bonds Payable (Excluding Other Financial Instruments Divided as Financial Liabilities suchas Preferred Shares and Perpetual Bonds)
Unit: RMB
| Bond name | Par value | Coupon rate | Issue date | Bond duration | Issue amount | Beginning balance | Issued in the current period | Interest accrued at par value | Amortization of premium and depreciation | Repaid in the current period | Ending balance | Default or not |
| N/A | ||||||||||||
| Total |
(3) Notes to Convertible Corporate Bonds
N/A
(4) Notes to Other Financial Instruments Classified as Financial Liabilities
Basic information about other outstanding financial instruments such as preferred stock and perpetual bond outstanding at the end ofthe periodN/AChanges in financial instruments such as preferred stock and perpetual bond outstanding at the end of the period
Unit: RMB
| Outstanding financial instruments | Period-beginning | Increase | Decrease | Period-end | ||||
| Quantity | Carrying value | Quantity | Carrying value | Quantity | Carrying value | Quantity | Carrying value | |
| N/A | ||||||||
Notes to basis for the classification of other financial instruments as financial liabilitiesN/AOther notes:
N/A
47. Lease Liabilities
Unit: RMB
| Item | Ending balance | Beginning balance |
| Long-term lease liabilities | 815,257,694.00 | 710,839,756.00 |
| current portion of lease liabilities | -159,238,606.00 | -168,698,260.00 |
| Total | 656,019,088.00 | 542,141,496.00 |
Other notes:
N/A
48. Long-term Accounts Payable
Unit: RMB
| Item | Ending balance | Beginning balance |
| Long-term payables | 157,457,082.00 | 171,611,393.00 |
| Specific payables | 0.00 | 0.00 |
| Total | 157,457,082.00 | 171,611,393.00 |
(1) Long-term Accounts Payable Listed by Nature of Account
Unit: RMB
| Item | Ending balance | Beginning balance |
| Long-term payables | 157,457,082.00 | 171,611,393.00 |
Other notes:
N/A
(2) Specific Payable
Unit: RMB
| Item | Beginning balance | Increase | Decrease | Ending balance | Formed reason |
| N/A | |||||
| Total | 0.00 | 0.00 |
Other notes:
N/A
49. Long-term Employee Benefits Payable
(1) List of Long-term Payroll Payable
Unit: RMB
| Item | Ending balance | Beginning balance |
| I. Net liabilities of after-service benefits-defined benefit schemes | 0.00 | 0.00 |
| II. Severance benefits | 0.00 | 0.00 |
| III. Other long-term benefits | 0.00 | 0.00 |
| Total | 0.00 | 0.00 |
(2) Changes in Defined Benefit Plans
Obligation present value of defined benefit plans:
Unit: RMB
| Item | Reporting Period | Same period of last year |
| I. Beginning balance | 0.00 | 0.00 |
| II. Deemed Benefit Costs Included Current Profit or Loss | 0.00 | 0.00 |
| 1. Current service cost | 0.00 | 0.00 |
| 2. Past service cost | 0.00 | 0.00 |
| 3. Settlement gains ("-" for loss) | 0.00 | 0.00 |
| 4. Net interest | 0.00 | 0.00 |
| III. Deemed Income Costs Included in Other Comprehensive Income | 0.00 | 0.00 |
| 1. Actuarial gains ("-" for loss) | 0.00 | 0.00 |
| IV. Other Changes | 0.00 | 0.00 |
| 1. Consideration paid upon settlement | 0.00 | 0.00 |
| 2. Benefits paid | 0.00 | 0.00 |
| V. Closing Balance | 0.00 | 0.00 |
Plan assets:
Unit: RMB
| Item | Reporting Period | Same period of last year |
| I. Beginning balance | 0.00 | 0.00 |
| II. Deemed Benefit Costs Included Current Profit or Loss | 0.00 | 0.00 |
| 1. Net interest | 0.00 | 0.00 |
| III. Deemed Income Costs Included in Other Comprehensive Income | 0.00 | 0.00 |
| 1. Return on plan assets (excluding net interest) | 0.00 | 0.00 |
| 2. Changes in asset ceiling impact (excluding those included in net interest) | 0.00 | 0.00 |
| IV. Other Changes | 0.00 | 0.00 |
| V. Closing Balance | 0.00 | 0.00 |
Net liabilities (net assets) of defined benefit plans:
Unit: RMB
| Item | Reporting Period | Same period of last year |
| I. Beginning balance | 0.00 | 0.00 |
| II. Deemed Benefit Costs Included Current Profit or Loss | 0.00 | 0.00 |
| III. Deemed Income Costs Included in Other Comprehensive Income | 0.00 | 0.00 |
| IV. Other Changes | 0.00 | 0.00 |
| V. Closing Balance | 0.00 | 0.00 |
Notes of influence of content of defined benefit schemes and its relevant risks to the future cash flow, time and uncertainty of theCompany:
N/ANotes to the results of significant actuarial assumptions and sensitivity analysis of defined benefit schemes:
N/AOther notes:
N/A
50. Provisions
Unit: RMB
| Item | Ending balance | Beginning balance | Formed reason |
| Guarantees provided for external parties | 0.00 | 0.00 | N/A |
| Pending litigation | 3,580,000.00 | 3,580,000.00 | Expected losses from pending litigation |
| Product quality assurance | 0.00 | 0.00 | N/A |
| Restructuring obligation | 0.00 | 0.00 | N/A |
| Pending loss-making contracts | 0.00 | 0.00 | N/A |
| Refunds payable | 0.00 | 0.00 | N/A |
| Others | 0.00 | 0.00 | N/A |
| Total | 3,580,000.00 | 3,580,000.00 |
Other notes, including notes to related significant assumptions and evaluation of significant provisions:
N/A
51. Deferred Income
Unit: RMB
| Item | Beginning balance | Increase | Decrease | Ending balance | Formed reason |
| Government grants | 4,763,051,955.00 | 554,673,221.00 | 599,438,465.00 | 4,718,286,711.00 | Government grants |
| Total | 4,763,051,955.00 | 554,673,221.00 | 599,438,465.00 | 4,718,286,711.00 |
Other notes:
N/A
52. Other Non-current Liabilities
Unit: RMB
| Item | Ending balance | Beginning balance |
| Contract liabilities | 0.00 | 0.00 |
| Contribution of non-controlling interests with redemption provisions | 2,496,183,179.00 | 2,500,522,066.00 |
| Total | 2,496,183,179.00 | 2,500,522,066.00 |
Other notes:
The contribution of non-controlling interests with redemption provisions is mainly due to the Company’s obligation to redeem thecontribution of minority shareholders of the subsidiary Fuzhou BOE. The Company recognises the above-mentioned minorityshareholders’ contributions as financial liabilities measured at amortised cost, and will repurchase them at the agreed-upon pricebetween 2025 and 2034 according to the agreement.
53. Share Capital
Unit: RMB
| Item | Beginning balance | Increase/decrease (+/-) | Ending balance | ||||
| New issues | Bonus shares | Bonus issue from profit | Others | Sub-total | |||
| Total shares | 37,652,529,195.00 | 0.00 | 0.00 | 0.00 | -2,547,779.00 | -2,547,779.00 | 37,649,981,416.00 |
Other notes:
N/A
54. Other Equity Instrument
(1) The Basic Information of Other Financial Instruments such as Preferred Stock and Perpetual Bond Outstanding at the Endof the Period
| Outstanding financial instruments | Issuance date | Accounting classification | Interest rate | Issue price | Quantity | Amount | Maturity date or renewal status | Conditions for conversion | Conversion status |
| 22BOEY1 | 24 March 2022 | Equity instrument | 3.50% | RMB 100/bond | 20 million | RMB 2 billion | 3+N years | Not applicable | Not applicable |
(2) Changes in Financial Instruments such as Preferred Stock and Perpetual Bond Outstanding at the End of the Period
Unit: RMB
| Outstanding financial instruments | Period-beginning | Increase | Decrease | Period-end | ||||
| Quantity | Carrying value | Quantity | Carrying value | Quantity | Carrying value | Quantity | Carrying value | |
| 22BOEY1 | 20,000,000.00 | 2,043,402,946.00 | 0.00 | 34,712,329.00 | 0.00 | 70,000,000.00 | 20,000,000.00 | 2,008,115,275.00 |
| Total | 20,000,000.00 | 2,043,402,946.00 | 0.00 | 34,712,329.00 | 0.00 | 70,000,000.00 | 20,000,000.00 | 2,008,115,275.00 |
Changes in other equity instruments for the Current Period, explanation on reasons for the changes and basis for related accountingtreatment:
On March 24, 2022, the Company issued the 2022 publicly issued renewable corporate bonds of BOE Technology Group Co., Ltd. (toqualified investors), referred to as "22BOEY1" (hereinafter referred to as the "2022 Bonds"). As at June 30, 2024, the accrued intereston the 2022 Bonds was RMB34,712,329.00, and the repaid interest was 70,000,000.00.Other notes:
N/A
55. Capital Reserves
Unit: RMB
| Item | Beginning balance | Increase | Decrease | Ending balance |
| Capital premium (premium on stock) | 50,340,686,263.00 | 0.00 | 19,810,929.00 | 50,320,875,334.00 |
| Other capital reserves | 1,772,894,483.00 | 114,148,253.00 | 0 | 1,887,042,736.00 |
| Total | 52,113,580,746.00 | 114,148,253.00 | 19,810,929.00 | 52,207,918,070.00 |
Other notes, including a description of the increase or decrease for the current period and the reasons for the change:
N/A
56. Treasury Shares
Unit: RMB
| Item | Beginning balance | Increase | Decrease | Ending balance |
| Treasury shares | 462,036,240.00 | 0.00 | 233,903,606.00 | 228,132,634.00 |
| Total | 462,036,240.00 | 0.00 | 233,903,606.00 | 228,132,634.00 |
Other notes, including a description of the increase or decrease for the current period and the reasons for the change:
N/A
57. Other Comprehensive Income
Unit: RMB
| Item | Beginning balance | Reporting Period | Ending balance | |||||
| Income before taxation in the Current Period | Less: Recorded in other comprehensive income in prior period and transferred to profit or loss in the Current Period | Less: Recorded in other comprehensive income in prior period and transferred to retained earnings in the Current Period | Less: Income tax expense | Attributable to owners of the Company as the parent after tax | Attributable to non-controlling interests after tax | |||
| I. Other comprehensive income that may not subsequently be reclassified to profit or loss | -367,431,914.00 | -24,181,037.00 | 0.00 | 14,571,586.00 | -5,978,208.00 | -32,768,271.00 | -6,144.00 | -400,200,185.00 |
| Of which: Changes caused by re-measurements on defined benefit pension schemes | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other comprehensive income that will not be reclassified to profit or loss under equity method | -182,042,185.00 | -30,842,705.00 | 0.00 | 0.00 | -3,544,938.00 | -27,297,767.00 | 0.00 | -209,339,952.00 |
| Changes in fair value of other investments in equity instruments | -185,389,729.00 | 6,661,668.00 | 0.00 | 14,571,586.00 | -2,433,270.00 | -5,470,504.00 | -6,144.00 | -190,860,233.00 |
| Changes in fair value of enterprise credit risk | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| II. Other comprehensive income that may be reclassified to profit or loss | -769,565,310.00 | -48,935,692.00 | 0.00 | 0.00 | 0.00 | -40,920,180.00 | -8,015,512.00 | -810,485,490.00 |
| Of which: Other comprehensive income that will be reclassified to profit or loss under equity method | -118,842.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -118,842.00 |
| Changes in fair value of investment in other debt obligations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Amount of financial assets reclassified to other comprehensive income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Provision for credit impairment of investment in other debt obligations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Reserve for cash flow hedges | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Translation differences arising from translation | -769,446,468.00 | -48,935,692.00 | 0.00 | 0.00 | 0.00 | -40,920,180.00 | -8,015,512.00 | -810,366,648.00 |
| of foreign currency financial statements | ||||||||
| Total of other comprehensive income | -1,136,997,224.00 | -73,116,729.00 | 0.00 | 14,571,586.00 | -5,978,208.00 | -73,688,451.00 | -8,021,656.00 | -1,210,685,675.00 |
Other notes, including the note to the adjustment of the initial recognition amount of hedged item transferred from the effective gain/loss on cash flow hedges:
N/A
58. Specific Reserve
Unit: RMB
| Item | Beginning balance | Increase | Decrease | Ending balance |
| Production safety reserve | 66,472,402.00 | 100,870,034.00 | 46,663,418.00 | 120,679,018.00 |
| Total | 66,472,402.00 | 100,870,034.00 | 46,663,418.00 | 120,679,018.00 |
Other notes, including a description of the increase or decrease for the current period and the reasons for the change:
The Company complied with the relevant provisions of the Management Measures for the Provision and Use of Enterprise ProductionSafety Costs (C.Z. [2022] No. 136) jointly issued by the Ministry of Finance and the Ministry of Emergency Management.
59. Surplus Reserves
Unit: RMB
| Item | Beginning balance | Increase | Decrease | Ending balance |
| Statutory surplus reserve | 3,282,107,326.00 | 0.00 | 0.00 | 3,282,107,326.00 |
| Discretionary surplus reserve | 289,671,309.00 | 0.00 | 0.00 | 289,671,309.00 |
| Reserve fund | 0.00 | 0.00 | 0.00 | 0.00 |
| Enterprise expansion fund | 0.00 | 0.00 | 0.00 | 0.00 |
| Others | 0.00 | 0.00 | 0.00 | 0.00 |
| Total | 3,571,778,635.00 | 0.00 | 0.00 | 3,571,778,635.00 |
Notes to surplus reserves, including the note to increase and decrease in the Reporting Period and the reason for changes:
N/A
60. Retained Profits
Unit: RMB
| Item | Reporting Period | Same period of last year |
| Beginning balance of retained earnings before adjustments | 35,579,576,607.00 | 35,829,465,307.00 |
| Beginning balance of retained profits after adjustments | 35,579,576,607.00 | 35,829,465,307.00 |
| Add: Net profit attributable to owners of the Company as the parent | 2,284,051,354.00 | 2,547,435,360.00 |
| Less: Appropriation for statutory surplus reserve | 0.00 | 330,597,179.00 |
| Withdrawal of discretional surplus reserves | 0.00 | 0.00 |
| Withdrawal of general reserve | 0.00 | 0.00 |
| Dividend of ordinary shares | 1,129,073,743.00 | 2,296,367,348.00 |
| Dividend of common stock transferred into share capital | 0.00 | 0.00 |
| Interest on holders of other equity instruments | 34,712,331.00 | 118,551,232.00 |
| Transfer of other comprehensive income to retained earnings | -14,571,586.00 | 51,808,301.00 |
| Retained earnings | 36,714,413,473.00 | 35,579,576,607.00 |
List of adjustment of beginning retained profits:
(1) RMB0.00 beginning retained profits was affected by retrospective adjustment conducted according to the Accounting Standardsfor Business Enterprises and relevant new regulations.
(2) RMB0.00 beginning retained profits was affected by changes in accounting policies.
(3) RMB0.00 beginning retained profits was affected by correction of significant accounting errors.
(4) RMB0.00 beginning retained profits was affected by changes in combination scope arising from same control.
(5) RMB0.00 beginning retained profits was affected totally by other adjustments.
61. Operating Revenue and Cost of Sales
Unit: RMB
| Item | Reporting Period | Same period of last year | ||
| Income | Cost | Income | Cost | |
| Principal activities | 90,649,519,240.00 | 76,270,419,539.00 | 78,056,831,790.00 | 71,421,814,017.00 |
| Other operating activities | 2,736,722,392.00 | 2,178,627,937.00 | 2,121,043,430.00 | 1,512,031,439.00 |
| Total | 93,386,241,632.00 | 78,449,047,476.00 | 80,177,875,220.00 | 72,933,845,456.00 |
Breakdown information of operating revenue and cost of sales:
Unit: RMB
| By operating segment | Reporting Period | Same period of last year |
| Mainland China | 49,668,918,111.00 | 34,647,943,197.00 |
| Other regions in Asia | 24,963,621,059.00 | 25,141,466,187.00 |
| Europe | 2,535,303,477.00 | 2,879,703,018.00 |
| America | 16,198,047,588.00 | 17,499,907,821.00 |
| Other regions | 20,351,397.00 | 8,854,997.00 |
| Total | 93,386,241,632.00 | 80,177,875,220.00 |
Information related to performance obligations:
| Item | Timing of fulfilment of performance obligations | Important payment terms | Nature of goods that the Company is committed to transfer | Whether or not the person primarily responsible | Funds undertaken by the Company expected to be returned to customers | Type of quality assurance provided by the Company and related obligations |
| N/A |
Other notes:
Generally, the Group assumes the performance obligations of merchandise sales and services for customers. For merchandise sales, ifterms of sales returns are offered, the limit of income recognition is that cumulated recognised income most likely will not havesignificant returns. In terms of performance obligations to be performed within a certain period of time, income is recognised accordingto the performance progress. Quality assurance provided by customers generally is guaranteed quality assurance. Such guaranteedquality assurance will not be regarded as a single performance obligation.Information related to transaction value assigned to residual performance obligations:
The amount of revenue corresponding to performance obligations of contracts signed but not performed or not fully performed yet wasRMB0.00 at the end of the Reporting Period, among which RMB0.00 was expected to be recognised in zero year, RMB0.00 in zeroyear and RMB0.00 in zero year.Information related to variable consideration in contracts:
N/ASignificant contract changes or significant transaction price adjustments
Unit: RMB
| Item | Accounting treatment | Amount of impact on revenue |
| N/A |
Other notes: N/A
62. Taxes and Surtaxes
Unit: RMB
| Item | Reporting Period | Same period of last year |
| Consumption tax | 0.00 | 0.00 |
| City maintenance and construction tax | 94,630,201.00 | 79,884,109.00 |
| Education surcharge | 67,737,591.00 | 58,436,254.00 |
| Resources tax | 0.00 | 0.00 |
| Property tax | 321,248,752.00 | 286,396,295.00 |
| Land use tax | 36,538,354.00 | 28,677,316.00 |
| Vehicle and vessel use tax | 0.00 | 0.00 |
| Stamp duty | 86,750,751.00 | 74,697,903.00 |
| Others | 10,743,858.00 | 12,442,850.00 |
| Total | 617,649,507.00 | 540,534,727.00 |
Other notes: N/A
63. Administrative Expense
Unit: RMB
| Item | Reporting Period | Same period of last year |
| Staff cost | 1,528,175,861.00 | 1,426,764,708.00 |
| Maintenance fee | 14,403,662.00 | 19,889,386.00 |
| Depreciation and amortization | 537,801,975.00 | 477,193,704.00 |
| Share payments | 28,994,177.00 | 64,712,156.00 |
| Others | 724,230,296.00 | 744,774,627.00 |
| Total | 2,833,605,971.00 | 2,733,334,581.00 |
Other notes:
N/A
64. Selling Expense
Unit: RMB
| Item | Reporting Period | Same period of last year |
| Warranty provisions | 976,462,667.00 | 1,088,263,993.00 |
| Staff cost | 553,449,231.00 | 515,360,662.00 |
| Share payments | 12,271,105.00 | 25,496,986.00 |
| Others | 348,194,287.00 | 298,341,655.00 |
| Total | 1,890,377,290.00 | 1,927,463,296.00 |
Other notes: N/A
65. Development Cost
Unit: RMB
| Item | Reporting Period | Same period of last year |
| Staff cost | 2,336,952,755.00 | 2,214,105,050.00 |
| Material expenses | 955,751,671.00 | 836,275,235.00 |
| Depreciation and amortization | 1,150,148,213.00 | 1,080,150,516.00 |
| Equity incentives | 33,169,944.00 | 69,400,282.00 |
| Others | 1,330,254,158.00 | 1,067,078,780.00 |
| Total | 5,806,276,741.00 | 5,267,009,863.00 |
Other notes: N/A
66. Finance Cost
Unit: RMB
| Item | Reporting Period | Same period of last year |
| Interest costs | 1,951,473,824.00 | 1,838,822,216.00 |
| Interest income | -1,145,670,653.00 | -978,583,668.00 |
| Net loss on exchange | -521,368,401.00 | -461,917,499.00 |
| Others | 11,007,563.00 | 38,548,045.00 |
| Total | 295,442,333.00 | 436,869,094.00 |
Other notes: N/A
67. Other Income
Unit: RMB
| Sources | Reporting Period | Same period of last year |
| Government grants related to assets | 291,749,132.00 | 259,777,983.00 |
| Government grants related to income | 475,304,628.00 | 2,460,713,617.00 |
| Others | 310,217,840.00 | 25,538,124.00 |
| Total | 1,077,271,600.00 | 2,746,029,724.00 |
68. Net Gain on Exposure Hedges
Unit: RMB
| Item | Reporting Period | Same period of last year |
| N/A | ||
| Total | 0.00 | 0.00 |
Other notes: N/A
69. Gains from Changes in Fair Value
Unit: RMB
| Sources | Reporting Period | Same period of last year |
| Financial assets held for trading | -50,062,137.00 | 167,439,034.00 |
| Of which: Gains from changes in fair value of derivative financial instruments | 0.00 | 0.00 |
| Trading financial liabilities | 0.00 | 0.00 |
| Investment property measured by fair value | 0.00 | 0.00 |
| Total | -50,062,137.00 | 167,439,034.00 |
Other notes: N/A
70. Investment Income
Unit: RMB
| Item | Reporting Period | Same period of last year |
| Income from long-term equity investments accounted for using equity method | -343,013,126.00 | 698,402,235.00 |
| Investment income from disposal of long-term equity investments | 27,843,519.00 | 1,581,850.00 |
| Investment income arising from holding of trading financial assets | 76,368,341.00 | 8,641,691.00 |
| Investment income from disposal of financial assets held for trading | 16,448,266.00 | 43,836,393.00 |
| Dividend income received from holding of other equity instrument investment | 11,008,149.00 | 21,651,026.00 |
| Gain from remeasurement of remaining equity interests to fair value upon the loss of control | 0.00 | 0.00 |
| Interest income of investment in debt obligations during holding period | 0.00 | 0.00 |
| Interest income of investment in other debt obligations during holding period | 0.00 | 0.00 |
| Investment income from disposal of investment in other debt obligations | 0.00 | 0.00 |
| Gains from debt restructuring | 0.00 | 0.00 |
| Others | -617,725.00 | 1,185,847.00 |
| Total | -211,962,576.00 | 775,299,042.00 |
Other notes: N/A
71. Credit Impairment Loss
Unit: RMB
| Item | Reporting Period | Same period of last year |
| Bad debt loss on notes receivable | -2,042.00 | 0.00 |
| Bad debt loss on accounts receivable | -25,960,166.00 | 8,521,863.00 |
| Bad debt loss of other receivables | 2,182,253.00 | -42,689.00 |
| Impairment loss of investment in debt obligations | 0.00 | 0.00 |
| Impairment loss of investment in other debt obligations | 0.00 | 0.00 |
| Bad debt loss of long-term receivables | 0.00 | 0.00 |
| Impairment losses related to financial guarantees | 0.00 | 0.00 |
| Total | -23,779,955.00 | 8,479,174.00 |
Other notes: N/A
72. Asset Impairment Loss
Unit: RMB
| Item | Reporting Period | Same period of last year |
| I. Loss on inventory valuation and contract performance cost | -2,070,127,168.00 | -1,043,297,559.00 |
| II. Impairment loss on long-term equity investment | 0.00 | 0.00 |
| III. Impairment loss on investment property | 0.00 | 0.00 |
| IV. Fixed assets impairment losses | -15,946,424.00 | -13,363,142.00 |
| V. Depreciation losses on engineering materials | 0.00 | 0.00 |
| VI. Impairment losses on construction in progress | 0.00 | 0.00 |
| VII. Impairment losses on productive living assets | 0.00 | 0.00 |
| VIII. Impairment losses of oil & gas assets | 0.00 | 0.00 |
| IX. Impairment losses on intangible assets | 0.00 | 0.00 |
| X. Goodwill impairment losses | 0.00 | 0.00 |
| XI. Impairment losses of contract assets | -781,418.00 | 0.00 |
| XII. Others | 0.00 | 0.00 |
| Total | -2,086,855,010.00 | -1,056,660,701.00 |
Other notes: N/A
73. Assets Disposal Income
Unit: RMB
| Sources | Reporting Period | Same period of last year |
| (Loss) on/gains from disposal of fixed assets | 8,670,980.00 | 8,393,532.00 |
| Gains from disposal of right-of-use assets | -21,299.00 | 866,428.00 |
| Gains from disposal of assets held for sale | 0.00 | 0.00 |
| Gains from disposal of intangible assets | 0.00 | 0.00 |
| Loss on disposal of construction in progress | -1,036,400.00 | 12,600.00 |
| Total | 7,613,281.00 | 9,272,560.00 |
74. Non-operating Income
Unit: RMB
| Item | Reporting Period | Same period of last year | Amount recorded in the current non-recurring profit or loss |
| Income from non-monetary assets exchange | 0.00 | 0.00 | 0.00 |
| Donation accepted | 0.00 | 5,025.00 | 0.00 |
| Government grants | 511,047.00 | 213,595.00 | 511,047.00 |
| Others | 119,045,192.00 | 195,719,741.00 | 119,045,192.00 |
| Total | 119,556,239.00 | 195,938,361.00 | 119,556,239.00 |
Other notes: N/A
75. Non-operating Expense
Unit: RMB
| Item | Reporting Period | Same period of last year | Amount recorded in the current non-recurring profit or loss |
| Non-monetary asset exchange losses | 0.00 | 0.00 | 0.00 |
| Donations provided | 22,447,566.00 | 1,726,822.00 | 22,447,566.00 |
| Loss on scrap of non-current assets | 3,615,533.00 | 25,712,531.00 | 3,615,533.00 |
| Others | 20,826,903.00 | 4,227,035.00 | 20,826,903.00 |
| Total | 46,890,002.00 | 31,666,388.00 | 46,890,002.00 |
Other notes: N/A
76. Income Tax Expense
(1) List of Income Tax Expense
Unit: RMB
| Item | Reporting Period | Same period of last year |
| Current income tax expense | 892,497,728.00 | 782,932,000.00 |
| Deferred income tax expense | -384,429,635.00 | 37,600,936.00 |
| Total | 508,068,093.00 | 820,532,936.00 |
(2) Adjustment Process of Accounting Profit and Income Tax Expense
Unit: RMB
| Item | Reporting Period |
| Profit before taxation | 2,278,733,754.00 |
| Current income tax expense accounted at statutory/applicable tax rate | 341,810,063.00 |
| Influence of applying different tax rates by subsidiaries | -65,269,831.00 |
| Influence of income tax before adjustment | 0.00 |
| Influence of non-taxable income | 0.00 |
| Influence of non-deductable costs, expenses and losses | 3,422,010.00 |
| Influence of deductible loss of unrecognized deferred income tax assets in prior period | -444,474,042.00 |
| Influence of deductible temporary difference or deductible loss of unrecognized deferred income tax assets in the Reporting Period | 867,480,872.00 |
| Others | -194,900,979.00 |
| Income tax expenses | 508,068,093.00 |
Other notes: N/A
77. Other Comprehensive Income
Refer to Note 57 for details.
78. Cash Flow Statement
(1) Cash Related to Operating Activities
Cash generated from other operating activities
Unit: RMB
| Item | Reporting Period | Same period of last year |
| Government grants | 1,132,792,206.00 | 2,761,847,535.00 |
| Restricted deposits and others | 807,690,998.00 | 558,103,572.00 |
| Total | 1,940,483,204.00 | 3,319,951,107.00 |
Notes to cash received related to other operating activities:
N/ACash used in other operating activities
Unit: RMB
| Item | Reporting Period | Same period of last year |
| Daily expenditure paid | 2,463,070,868.00 | 1,703,860,982.00 |
| Daily operation margins, deposits, and others paid | 1,147,043,571.00 | 854,866,812.00 |
| Total | 3,610,114,439.00 | 2,558,727,794.00 |
Notes to other cash paid relating to operating activities:
N/A
(2) Cash Related to Investing Activities
Cash generated from other investing activities
Unit: RMB
| Item | Reporting Period | Same period of last year |
| Interest income from investing activities | 923,190,560.00 | 878,583,608.00 |
| Recovery of restricted deposits in financial institutions | 326,356,685.00 | 1,224,495,078.00 |
| Investment-based margins and others received | 1,200,000.00 | 6,166,721.00 |
| Total | 1,250,747,245.00 | 2,109,245,407.00 |
Significant cash received related to investing activities
Unit: RMB
| Item | Reporting Period | Same period of last year |
| N/A |
Notes to other cash paid relating to operating activities::
N/ACash used in other investing activities
Unit: RMB
| Item | Reporting Period | Same period of last year |
| Investment-based margins and others returned | 40,770,633.00 | 11,541,974.00 |
| Total | 40,770,633.00 | 11,541,974.00 |
Significant cash paid related to investing activities
Unit: RMB
| Item | Reporting Period | Same period of last year |
| N/A |
Notes to other cash paid related to investment activities:
N/A
(3) Cash Related to Financing Activities
Cash generated from other financing activities
Unit: RMB
| Item | Reporting Period | Same period of last year |
| Recovery of restricted deposits in | 0.00 | 1,528,590.00 |
| financial institutions | ||
| Total | 0.00 | 1,528,590.00 |
Notes to other cash paid related to financing activities:
N/ACash used in other financing activities
Unit: RMB
| Item | Reporting Period | Same period of last year |
| Repurchase of shares | 0.00 | 2,771,603,700.00 |
| Repayment of perpetual bonds | 0.00 | 6,000,000,000.00 |
| Leasing-related principals and interests and others | 468,531,114.00 | 242,937,365.00 |
| Total | 468,531,114.00 | 9,014,541,065.00 |
Notes to other cash paid related to financing activities:
N/AChanges in liabilities arising from financing activities?Applicable □ Not applicable
Unit: RMB
| Item | Beginning balance | Increase | Decrease | Ending balance | ||
| Cash | Non-cash | Cash | Non-cash | |||
| Short-term borrowings | 1,746,184,534.00 | 1,997,262,070.00 | 40,946,922.00 | 1,949,567,035.00 | 0.00 | 1,834,826,491.00 |
| Long-term borrowings (including non-current liabilities due within one year) | 145,767,489,811.00 | 21,155,759,428.00 | 2,391,922,603.00 | 25,427,336,910.00 | 0.00 | 143,887,834,932.00 |
| Lease liabilities (including non-current liabilities due within one year) | 710,839,756.00 | 0.00 | 649,124,506.00 | 544,706,568.00 | 0.00 | 815,257,694.00 |
| Long-term payables (including non-current liabilities due within one year) | 218,789,786.00 | 0.00 | 55,957,220.00 | 82,946,849.00 | 0.00 | 191,800,157.00 |
| Other non-current liabilities (including non-current liabilities due within one year) | 2,500,522,066.00 | 0.00 | 14,700,001.00 | 19,038,888.00 | 0.00 | 2,496,183,179.00 |
| Total | 150,943,825,953.00 | 23,153,021,498.00 | 3,152,651,252.00 | 28,023,596,250.00 | 0.00 | 149,225,902,453.00 |
(4) Explanation for Presentation of Cash Flows on a Net Basis
| Item | Relevant facts and circumstances | Basis for presentation on a net basis | Financial impact |
| Restricted monetary funds | Amounts of restricted deposits placed and recovered are presented on a net basis. | Cash inflows and outflows for fast-turnover, high-value, short-term items can be presented on a net basis. | N/A |
(5) Significant Activities and Financial Impact that Do Not Involve Current Cash Receipts andDisbursements but Affect the Company’s Financial Position or May Affect the Company’s Cash Flows in theFutureN/A
79. Supplemental Information for Cash Flow Statement
(1) Supplemental Information for Cash Flow Statement
Unit: RMB
| Supplemental information | Reporting Period | Same period of last year |
| 1. Reconciliation of net profit to net cash generated from/used in operating activities: | ||
| Net profit | 1,770,665,661.00 | -1,667,583,927.00 |
| Add: Provision for impairment of assets | 2,110,634,949.00 | 1,048,181,527.00 |
| Depreciation of fixed assets, oil-gas assets, and productive living assets | 18,031,290,668.00 | 16,438,531,529.00 |
| Depreciation of right-of-use assets | 92,149,998.00 | 86,990,672.00 |
| Amortization of intangible assets | 508,530,765.00 | 444,129,765.00 |
| Amortization of long-term deferred expenses | 93,785,395.00 | 89,102,010.00 |
| Losses on disposal of fixed assets, intangible assets and other long-lived assets (gains: negative) | -7,613,281.00 | -9,272,560.00 |
| Losses on scrap of fixed assets (gains: negative) | -2,664,750.00 | 21,497,303.00 |
| Losses from variation of fair value (gains: negative) | 50,062,137.00 | -167,439,034.00 |
| Finance costs (gains: negative) | 713,483,231.00 | 1,093,562,434.00 |
| Investment loss (gains: negative) | 211,344,851.00 | -775,299,042.00 |
| Decrease in deferred income tax assets (gains: negative) | -146,791,012.00 | -27,116,549.00 |
| Increase in deferred income tax liabilities (“-” means decrease) | -197,154,806.00 | 102,428,281.00 |
| Decrease in inventory (gains: negative) | -3,286,494,678.00 | -3,863,870,302.00 |
| Decrease in accounts receivable generated from operating activities (gains: negative) | 6,198,588,348.00 | 1,164,869,933.00 |
| Increase in accounts payable used in operating activities (decrease: negative) | -1,326,611,727.00 | 2,708,785,180.00 |
| Others | 65,763,543.00 | -443,828,097.00 |
| Net cash inflow from operating activities | 24,878,969,292.00 | 16,243,669,123.00 |
| 2. Significant investing and financing activities without involvement of cash receipts and payments: | ||
| Transfer of debts to capital | 0.00 | 0.00 |
| Convertible corporate bonds due within one year | 0.00 | 0.00 |
| Fixed assets leased in through financing | 0.00 | 0.00 |
| 3. Net increase/decrease of cash and cash equivalent: | ||
| Ending balance of cash | 57,956,802,361.00 | 60,588,316,876.00 |
| Less: Beginning balance of cash | 52,092,981,748.00 | 64,382,037,764.00 |
| Add: Ending balance of cash equivalents | 0.00 | 0.00 |
| Less: Beginning balance of cash equivalents | 0.00 | 0.00 |
| Net increase in cash and cash equivalents | 5,863,820,613.00 | -3,793,720,888.00 |
(2) Net Cash Paid For Acquisition of Subsidiaries
Unit: RMB
| Item | Amount |
| Cash or cash equivalents paid in the Reporting Period for business combination occurring in the Reporting Period | 0.00 |
| Of which: | |
| Less: Cash and cash equivalents held by subsidiaries on the date of purchase date | 0.00 |
| Of which: | |
| Add: Cash or cash equivalents paid in the Reporting Period for business combination occurring in the prior period | 0.00 |
| Of which: | |
| Net payments for acquisition of subsidiaries | 0.00 |
Other notes:
N/A
(3) Net Cash Received from Disposal of the Subsidiaries
Unit: RMB
| Item | Amount |
| Cash or cash equivalents received in the Reporting Period from disposal of subsidiaries in the Current Period | 0.00 |
| Of which: | |
| Less: Cash and cash equivalents held by subsidiaries on the date of losing control power | 0.00 |
| Of which: | |
| Add: Cash or cash equivalents received in the Reporting Period from disposal of subsidiaries in the prior period | 0.00 |
| Of which: | |
| Net cash received from disposal of subsidiaries | 0.00 |
Other notes:
N/A
(4) Cash and Cash Equivalents
Unit: RMB
| Item | Ending balance | Beginning balance |
| I. Cash | 57,956,802,361.00 | 52,092,981,748.00 |
| Including: Cash on hand | 1,097,973.00 | 802,967.00 |
| Bank deposits available on demand | 57,949,577,986.00 | 52,089,093,133.00 |
| Other monetary funds available on demand | 6,126,402.00 | 3,085,648.00 |
| Accounts deposited in the central bank available for payment | 0.00 | 0.00 |
| Deposits in other banks | 0.00 | 0.00 |
| Accounts of interbank | 0.00 | 0.00 |
| II. Cash equivalents | 0.00 | 0.00 |
| Of which: Bond investment expired within three months | 0.00 | 0.00 |
| III. Ending balance of cash and cash equivalents | 57,956,802,361.00 | 52,092,981,748.00 |
| Of which: Cash and cash equivalents with restriction in use for the Company as the parent or subsidiaries of the Group | 0.00 | 0.00 |
(5) Presentation of Cash and Cash Equivalents that Are Subject to Certain Restrictions on Their Usage
Unit: RMB
| Item | Reporting Period | Same period of last year | Reason for classifying the item as cash and cash equivalents |
| N/A |
(6) Monetary Funds Other than Cash and Cash Equivalents
Unit: RMB
| Item | Reporting Period | Same period of last year | Reason for not classifying the item as cash and cash equivalents |
| Bank deposits with interest at fixed rates | 21,871,692,143.00 | 0.00 | Holding for investment purposes |
| Margin deposits | 1,462,511,849.00 | 2,817,459,430.00 | Mainly refer to margin deposits pledged for the issuance of bills payable |
| Total | 23,334,203,992.00 | 2,817,459,430.00 |
Other notes:
N/A
(7) Notes on Other Significant Activities
N/A
80. Notes to Items of the Statements of Changes in Owners’ Equity
Notes to names under the item of “Other” in the adjusted ending balance for the same period of last year and the corresponding amount:
N/A
81. Foreign Currency Monetary Items
(1) Foreign Currency Monetary Items
Unit: RMB
| Item | Ending foreign currency balance | Exchange rate | Ending balance converted to RMB |
| Cash at bank | 29,253,169,226.00 | ||
| Including: USD | 4,036,296,069.00 | 7.1268 | 28,765,874,826.00 |
| EUR | 21,184,662.00 | 7.6617 | 162,310,524.00 |
| HKD | 90,750,014.00 | 0.9127 | 82,827,538.00 |
| Accounts receivable | 15,900,998,797.00 | ||
| Including: USD | 2,148,484,482.00 | 7.1268 | 15,311,819,207.00 |
| EUR | 818,734.00 | 7.6617 | 6,272,898.00 |
| HKD | 553,147,652.00 | 0.9127 | 504,857,862.00 |
| Long-term loans | 18,087,141,354.00 | ||
| Including: USD | 2,537,905,000.00 | 7.1268 | 18,087,141,354.00 |
| EUR | 0.00 | 7.6617 | 0.00 |
| HKD | 0.00 | 0.9127 | 0.00 |
Other notes:
N/A
(2) Notes to Overseas Entities Including: for Significant Overseas Entities, Main Operating Place, RecordingCurrency and Selection Basis Shall Be Disclosed; if there Are Changes in Recording Currency, RelevantReasons Shall Be Disclosed.
□Applicable ?Not applicable
82. Leases
(1) The Company Served as the Lessee:
□Applicable ?Not applicable
(2) The Company Served as the Lessor:
Operating leases with the Company as lessor?Applicable □ Not applicable
Unit: RMB
| Item | Lease income | Of which: income related to variable lease payments not included in lease receipts |
| Operating lease | 469,182,379.00 | 0.00 |
| Total | 469,182,379.00 | 0.00 |
Finance leases with the Company as lessor
□Applicable ?Not applicable
Undiscounted lease receipts for each of the next five years
□Applicable ?Not applicable
Reconciliation of undiscounted lease receipts to net investment in leasesN/A
(3) Recognition of Gain or Loss on Sales under Finance Leases with the Company as a Manufacturer orDistributor
□Applicable ?Not applicable
VIII. Research and Development Expenses
Unit: RMB
| Item | Reporting Period | Same period of last year |
| Staff cost | 2,351,979,432.00 | 2,214,105,050.00 |
| Material expenses | 968,129,302.00 | 836,275,235.00 |
| Depreciation and amortization | 1,155,582,296.00 | 1,080,150,516.00 |
| Equity incentives | 33,169,944.00 | 69,400,282.00 |
| Others | 1,333,729,567.00 | 1,067,078,780.00 |
| Total | 5,842,590,541.00 | 5,267,009,863.00 |
| Including: research and development expenditures that are expensed | 5,806,276,741.00 | 5,267,009,863.00 |
| research and development expenditures that are capitalised | 36,313,800.00 | 0.00 |
1. Research and Development Projects Which are Eligible for Capitalisation
Unit: RMB
| Item | Beginning balance | Increased amount | Decrease | Ending balance | ||
| Internal development expenditure | Others | Recognised as intangible assets | Transferred into the current profit or loss | |||
| HC Semitek Corporation LED and | 166,977,531.00 | 36,313,800.00 | 0.00 | 101,813,566.00 | 0.00 | 101,477,765.00 |
| Micro-LED technology development | ||||||
| Total | 166,977,531.00 | 36,313,800.00 | 0.00 | 101,813,566.00 | 0.00 | 101,477,765.00 |
Significant capitalised R&D projects
| Item | R&D progress | Estimated completion date | Expected manner of generation of economic benefits | Time of commencement of capitalization | Specific basis for commencement of capitalization |
| N/A |
Provision for impairment of development expenditure
Unit: RMB
| Item | Beginning balance | Increase | Decrease | Ending balance | Impairment testing |
| N/A |
IX. Change of Consolidation Scope
1. Business Combination Involving Entities not Under Common Control
(1) Business Combinations Involving Entities Not Under Common Control Occurred During the Reporting Period
Unit: RMB
| Name of the acquiree | Date of equity acquisition | Cost of equity acquisition | Proportion of equities acquired | Method of equity acquisition | Acquisition date | Basis for determining the acquisition date | The acquiree’s revenue from the acquisition date to the period-end | The acquiree’s net profit from the acquisition date to the period-end | The acquiree’s cash flows from the acquisition date to the period-end |
| N/A |
Other notes:
N/A
(2) Acquisition Cost and Goodwill
Unit: RMB
| Acquisition cost | |
| --Cash | 0.00 |
| --Fair value of non-cash assets | 0.00 |
| --Fair value of issued or assumed debts | 0.00 |
| --Fair value of issued equity securities | 0.00 |
| --Fair value of the contingent consideration | 0.00 |
| --Fair value of equity interests held before the acquisition date on the acquisition date | 0.00 |
| --Others | 0.00 |
| Total acquisition cost | 0.00 |
| Less: Share of the fair value of the identifiable net assets | 0.00 |
| acquired | |
| Amount of goodwill/acquisition cost less than share of the fair value of the identifiable net assets acquired | 0.00 |
Notes to the method for determining the fair value of the acquisition cost:
N/AContingent consideration and its changes:
N/AMain reasons for the formation of large-amount goodwill:
N/AOther notes: N/A
(3) Identifiable Assets and Liabilities of the Acquiree on the Acquisition Date
Unit: RMB
| Item | ||
| Fair value on the acquisition date | Carrying value on the acquisition date | |
| Assets: | 0.00 | 0.00 |
| Cash at bank | 0.00 | 0.00 |
| Receivables | 0.00 | 0.00 |
| Inventories | 0.00 | 0.00 |
| Fixed assets | 0.00 | 0.00 |
| Intangible assets | 0.00 | 0.00 |
| Liabilities: | 0.00 | 0.00 |
| Loans | 0.00 | 0.00 |
| Payables | 0.00 | 0.00 |
| Deferred tax liabilities | 0.00 | 0.00 |
| Net assets | 0.00 | 0.00 |
| Less: Non-controlling interests | 0.00 | 0.00 |
| Net assets acquired | 0.00 | 0.00 |
Method for determining the fair value of identifiable assets and assets:
N/AContingent liabilities of the acquiree assumed in the business combination:
N/AOther notes:
N/A
(4) Gain or Loss from Remeasurement of Equity Interests Held before the Acquisition Date at Fair ValueWhether there were several transactions to realize business combinations and acquire controls during the Reporting Period
□Yes ?No
(5) Notes to Failure to Reasonably Determine the Combination Consideration or the Fair Value of Identifiable Assets andLiabilities of the Acquiree on the Acquisition Date or at the End of the Current PeriodN/A
(6) Other Notes
N/A
2. Business Combinations Involving Entities Under Common Control
(1) Business Combination under the Same Control during the Current Period
Unit: RMB
| Name of the combined party | Proportion of equity interests acquired in the business combination | Basis for the judgment about the business combination under common control | Combination date | Basis for determining the combination date | The combined party’s revenue from the beginning of the current period, in which the combination occurred, to the combination date | The combined party’s net profit from the beginning of the current period, in which the combination occurred, to the combination date | The combined party’s revenue during the comparison period | The combined party’s net profit during the comparison period |
| N/A |
Other notes:
N/A
(2) Acquisition Cost
Unit: RMB
| Acquisition cost | |
| --Cash | 0.00 |
| --Carrying value of non-cash assets | 0.00 |
| --Carrying value of issued or assumed debts | 0.00 |
| --Carrying value of issued equity securities | 0.00 |
| --Contingent consideration | 0.00 |
Notes to contingent consideration and its changes:
N/AOther notes:
N/A
(3) The Carrying Value of Assets and Liabilities of the Combined Party on the Combination Date
Unit: RMB
| Item | ||
| Combination date | End of the previous period | |
| Assets: | 0.00 | 0.00 |
| Cash at bank | 0.00 | 0.00 |
| Receivables | 0.00 | 0.00 |
| Inventories | 0.00 | 0.00 |
| Fixed assets | 0.00 | 0.00 |
| Intangible assets | 0.00 | 0.00 |
| Liabilities: | 0.00 | 0.00 |
| Loans | 0.00 | 0.00 |
| Payables | 0.00 | 0.00 |
| Net assets | 0.00 | 0.00 |
| Less: Non-controlling interests | 0.00 | 0.00 |
| Net assets acquired | 0.00 | 0.00 |
Contingent liabilities of the combined party assumed in business combinations:
N/AOther notes:
N/A
3. Counter Purchase
Basic information of the transactions, basis of the counter purchase, basis and whether assets and liabilities retained by the listedcompany constitute business, determination of the combination cost, the amount and calculation of the equity amount adjusted intreatment for the equity transaction:
N/A
4. Disposal of Subsidiary
Whether there were any transactions or events during the period in which control of the subsidiary was lost?
□Yes ?No
Whether there are several disposals of the investment to the subsidiary and lost controls?
□Yes ?No
5. Changes in Combination Scope for Other Reasons
Note to changes in combination scope for other reasons (such as newly establishment or liquidation of subsidiaries, etc.) and relevantinformation:
The newly added subsidiaries in the merger scope this year include Chongqing BOE Jingyuan Technology Co., Ltd., BOE VisionTechnology (Vietnam) Co., Ltd., Zhuhai BOE Crystal Chip Technology Co., Ltd., BOE Huacan Jingtu Technology (Zhejiang) Co.,Ltd., Hefei BOE Ruishi Technology Co., Ltd., Qingdao BOE Energy Technology Co., Ltd., and Hefei BOE Solar Energy TechnologyCo., Ltd;The consolidation scope this year is narrowed by canceling subsidiaries: Yunnan BOE Smart Technology Co., Ltd., BOE EducationTechnology Co., Ltd., and Beijing Dongfang Hengtong Technology Development Co., Ltd.
X. Equity in Other Entities
1. Equity in Subsidiary
(1) Subsidiaries
Unit: RMB
| Name of the subsidiary | Registered capital | Main operating place | Registered place | Business nature | Shareholding percentage | Acquisition method | |
| Direct | Indirect | ||||||
| Beijing BOE Optoelectronics Technology Co., Ltd. | 4,626,077,148.00 | Beijing, China | Beijing, China | Research and development (“R&D”), design and manufacturing of TFT-LCD devices | 0.00% | 100.00% | Founded by investment |
| Chengdu BOE Optoelectronics Technology Co., Ltd. | 25,000,000,000.00 | Chengdu, China | Chengdu, China | R&D, design, production and sales of new display devices and modules and other electronic components | 100.00% | 0.00% | Business combinations involving entities not under common control |
| Hefei BOE Optoelectronics Technology Co., Ltd. | 2,700,000,000.00 | Hefei, China | Hefei, China | Investment, construction, R&D, production and sales of the relevant products of Thin Film Transistor Liquid Crystal Display (TFT-LCD) devices and its auxiliary products. | 100.00% | 0.00% | Business combinations involving entities not under common control |
| Beijing BOE Display Technology Co., Ltd. (Beijing BOE Display) | 8,941,456,800.00 | Beijing, China | Beijing, China | Development of Thin Film Transistor Liquid Crystal Display (TFT-LCD) devices, manufacturing and sale of Liquid Crystal Display (LCD) | 97.17% | 2.83% | Founded by investment |
| Hefei Xinsheng Optoelectronics Technology Co., Ltd. | 9,750,000,000.00 | Hefei, China | Hefei, China | Investment, construction, R&D, production and sales of the relevant products of Thin Film Transistor Liquid Crystal Display (TFT-LCD) devices and its auxiliary products. | 99.97% | 0.03% | Business combinations involving entities not under common control |
| Ordos Yuansheng Optoelectronics Co., | 11,804,000,000.00 | Ordos, China | Ordos, China | Manufacture and sales of AM-OLED display device-related products and auxiliary products. | 100.00% | 0.00% | Founded by investment |
| Ltd. | |||||||
| Chongqing BOE Optoelectronics Technology Co., Ltd. | 3,845,200,000.00 | Chongqing, China | Chongqing, China | R&D, production, and sales of semiconductor display devices, entire machines, and relevant products; import and export of goods and technical consultancy | 100.00% | 0.00% | Business combinations involving entities not under common control |
| Fuzhou BOE Optoelectronics Technology Co., Ltd. | 17,600,000,000.00 | Fuzhou, China | Fuzhou, China | Investment, building, R&D, production, and sales of products related to Thin Film Transistor Liquid Crystal Display (TFT-LCD) devices and their supporting products (business premises are separately established); proprietary and agency import and export of commodities and technologies (excluding commodities and technologies that are restricted or prohibited by the government); business management consultancy and services; house leasing; leasing of machinery equipment; technological development, transfer, consultancy, and services of display devices-related products. (For items that require approval by law, the approval from related authorities must be obtained before engagement in the business activities) | 86.08% | 0.00% | Business combinations involving entities not under common control |
| Beijing BOE Vision Electronic Technology Co., Ltd. | 5,636,475,800.00 | Beijing, China | Beijing, China | An investment platform that sells Liquid Crystal Display (LCD) | 100.00% | 0.00% | Founded by investment |
| Beijing BOE Vacuum Electrical Co., Ltd | 33,250,000.00 | Beijing, China | Beijing, China | Mainly engaged in the production and sales of vacuum electrical products | 57.89% | 0.00% | Founded by investment |
| Beijing Yinghe Century Co., Ltd. | 233,105,200.00 | Beijing, China | Beijing, China | Engineering project management; property management services; rental of commercial properties; rental of offices; enterprise management consultancy | 100.00% | 0.00% | Founded by investment |
| BOE Optical Science and Technology Co., Ltd. | 826,714,059.00 | Suzhou, China | Suzhou, China | R&D, production and sales of LCD, back light for display and related components. | 96.12% | 0.00% | Founded by investment |
| BOE Hyundai LCD (Beijing) Display Technology Co., Ltd. | 35,634,000.00 | Beijing, China | Beijing, China | Development, manufacture and sale of liquid display for mobile termination. | 75.00% | 0.00% | Founded by investment |
| BOE (Hebei) MOBILE Display Technology Co., Ltd. | 1,358,160,140.00 | Langfang, China | Langfang, China | Manufacture and sale of mobile flat screen display technical products and related services. | 100.00% | 0.00% | Founded by investment |
| Beijing BOE Multimedia Technology Co., Ltd. | 400,000,000.00 | Beijing, China | Beijing, China | Technology development, technology transfer, technology consulting and technology services; sales of computer software, hardware and auxiliary equipment, digital video and audio | 100.00% | 0.00% | Founded by investment |
| technology products, electronic digital products, video telephone, mobile phones and spare parts, hardware (excluding electric bicycle), household appliances, photographic equipment, sporting goods, Class I medical devices, lamps, stationery, cosmetics, bathroom appliances, knitwear and textile, clothing, daily necessities, timepieces, glasses, toys and food; equipment maintenance; import and export of goods; basic software services; application software service; machinery and equipment leases; design, production, agency and publication of advertisements. (Market participants independently select the business activities and carry out the business activities in accordance with laws and regulations; sales of food and business activities subject to approval in accordance with laws and regulations, operations may be conducted only with the approval of relevant government authorities; business activities prohibited and restricted by the industrial policies of the state and the city.) | |||||||
| Beijing BOE Energy Technology Co., Ltd. | 1,242,690,058.00 | Beijing, China | Beijing, China | Design, consultancy and service of solar cell, photovoltaic system, wind power system and solar thermal system as well as the assembly units; energy-saving service. | 68.40% | 0.00% | Founded by investment |
| Beijing BOE Life Technology Co., Ltd. | 24,000,000.00 | Beijing, China | Beijing, China | Technology promotion services, property management, sales of electronic products | 100.00% | 0.00% | Founded by investment |
| Beijing Zhongxiangying Technology Co., Ltd. | 109,767,000.00 | Beijing, China | Beijing, China | Technology promotion services, property management, sales of electronic products | 91.10% | 0.00% | Founded by investment |
| Ordos City Haosheng Energy Investment Co., Ltd. | 37,440,000.00 | Ordos, China | Ordos, China | Energy investment | 0.00% | 100.00% | Founded by investment |
| BOE Semi-conductor Co., Ltd. | 11,250,000.00 | Beijing, China | Beijing, China | Glass thinning and metal part processing | 84.00% | 0.00% | Founded by investment |
| BOE Optoelectronics Holding Co., Ltd. | 7,126,800,000.00 | Hong Kong, China | British Virgin Islands | Investment holding | 100.00% | 0.00% | Founded by investment |
| BOE (Korea) Co.,Ltd. | 494,000.00 | South Korea | South Korea | Wholesale and retail trade | 100.00% | 0.00% | Founded by investment |
| BOE Health Investment Management Co., Ltd. | 18,300,000,000.00 | Beijing, China | Beijing, China | Investment management and project investment. | 100.00% | 0.00% | Business combinations involving entities not under common control |
| Beijing BOE Matsushita Color CRT Co., Ltd. | 325,754,049.00 | Beijing, China | Beijing, China | Property management, lease for commercial use, business management consulting, etc | 88.80% | 0.00% | Business combinations involving entities not under common control |
| Hefei BOE Display Technology Co., Ltd. (Hefei BOE Display) | 24,000,000,000.00 | Hefei, China | Hefei, China | Investment, R & D and production of products related to Thin Film Transistor Liquid Crystal Display (TFT-LCD) devices and the supporting facility | 36.67% | 0.00% | Business combinations involving entities not under common control |
| Beijing BOE Technology Development Co., Ltd. | 1,000,000.00 | Beijing, China | Beijing, China | Development, transfer, consulting and service of technology | 100.00% | 0.00% | Founded by investment |
| Hefei BOE Zhuoyin Technology Co., Ltd. | 800,000,000.00 | Hefei, China | Hefei, China | Investment, construction, R&D, production and sales of products related to OLED display device and auxiliary products. | 75.00% | 0.00% | Founded by investment |
| Beijing BOE Land Co., Ltd. | 55,420,000.00 | Beijing, China | Beijing, China | Development, construction, property management and supporting service of industrial plants and supporting facilities; information consulting of real estate; lease of commercial facilities, commercial attendants and the supporting service facilities; motor vehicles public parking service. | 70.00% | 0.00% | Founded by investment |
| Beijing BOE Marketing Co., Ltd. | 50,000,000.00 | Beijing, China | Beijing, China | Sales of communication equipment, hardware & software of computer and peripheral units, electronic products, equipment maintenance; development, transfer, consulting and service providing of technologies; import & export of goods and technologies, agency of import & export; manufacturing consignment of electronic products and LCD devices. | 100.00% | 0.00% | Founded by investment |
| Yunnan Chuangshijie Optoelectronics Technology Co., Ltd. | 3,040,000,000.00 | Kunming, China | Kunming, China | Development, spread, transfer, consultancy and service providing of display technology; service providing of computer software/hardware and network systems; construction, operation and management of e-commerce platforms; providing service of conferences; undertaking of exhibitions; computer animation design; production, R&D and sales of OLED micro display devices and AR/VR complete machine; storage services; project investment and management of such projects; import and export of goods and technologies; leasing of houses and machinery equipment | 82.77% | 0.00% | Founded by investment |
| Mianyang BOE | 26,000,000,000.00 | Mianyang, | Mianyang, China | R&D, production, and sales of soft AMOLEDs that are mainly | 83.46% | 0.00% | Business |
| Optoelectronics Technology Co., Ltd. | China | applied in smartphones, wearable devices, and vehicle display systems | combinations involving entities not under common control | ||||
| Beijing BOE Sensor Technology Co., Ltd. | 4,786,482,400.00 | Beijing, China | Beijing, China | Technology development, technology consulting, technology services, technology transfer, IoT application services, information system integration services, electronic component manufacturing, integrated circuit manufacturing and sales, integrated circuit chip and product sales, functional glass and new optical material sales, etc. | 100.00% | 0.00% | Founded by investment |
| Wuhan BOE Optoelectronics Technology Co., Ltd. | 26,000,000,000.00 | Wuhan, China | Wuhan, China | Investment, building, R&D, production, sales, and technological development, transfer, consultancy, and services of Thin Film Transistor Liquid Crystal Display (TFT-LCD) devices-related products and supporting products | 47.14% | 0.00% | Business combinations involving entities not under common control |
| Chongqing BOE Display Technology Co., Ltd. | 26,000,000,000.00 | Chongqing, China | Chongqing, China | R&D, production, and sales of semiconductor display device-related products and supporting products; import and export of goods and technologies | 38.46% | 0.00% | Business combinations involving entities not under common control |
| Fuzhou BOE Display Technology Co., Ltd. | 50,000,000.00 | Fuzhou, China | Fuzhou, China | R&D, production and sales of semiconductor display device-related products and related products; import or export of goods or technology; display device and component, other electronic components, and technology development, technology transfer, technical consulting, related fields related to display devices and electronic products, technical services; business management consulting; property management; house rental; machinery and equipment rental | 43.46% | 0.00% | Business combinations involving entities not under common control |
| Hefei BOE Xingyu Technology Co., Ltd. | 822,290,184.00 | Hefei, China | Hefei, China | R&D, production, and sales of Mini LED backlight components and Mini LED display modules and components | 65.00% | 0.00% | Founded by investment |
| Dongfang Chengqi (Beijing) Business Technology Co., Ltd. | 10,000,000.00 | Beijing, China | Beijing, China | General items: Technical services, development, consultancy, exchanges, transfer, and promotion; digital technology services; software outsourcing services; software sales; sales of daily necessities; wholesale of daily necessities; sales agency; translation services; conference and exhibition services; organisation of cultural and artistic exchange activities; | 100.00% | 0.00% | Founded by investment |
| advertising production; advertising publication; advertisement design and agency; business management; market research (excluding foreign-related surveys); real estate consultancy; social and economic consultancy services; health consultancy services (excluding diagnostic and treatment services); ticketing agency services; passenger ticketing agency; business agency services; planning and consultancy of tourism development projects; hotel management; property management; parking lot services; urban greening management; landscaping project construction; professional cleaning and disinfection services; import and export of goods; import and export of technologies; import and export agency; sales of automobile decorative products; business management consultancy; food sales (only sales of prepackaged food); sales of fire protection equipment; sales of knitwear and textile products and their raw materials; clothing and apparel wholesale; retail of hardware products; disinfectant sales (excluding hazardous chemicals); wholesale of kitchen utensils and sanitary ware and daily groceries; software development; sales of special labour protective equipment; sales of construction materials; sales of household appliances; sales of office equipment; manufacturing of plastic products; solid waste management. (The enterprise shall conduct business activities according to its business license by law, besides projects that must be approved by law.) Licensed projects: Internet information services; tourism business; operating services of urban domestic waste; kitchen waste. (Projects, which must be approved, shall be conducted upon approval of relevant departments. Specific business projects shall be subject to the approval document or license of relevant departments.) (The enterprise shall not engage in business activities that are prohibited and restricted by national and municipal industrial policies.) | |||||||
| BOE Innovation Investment Co., Ltd. | 4,577,000,000.00 | Beijing, China | Beijing, China | Project investment; investment management.? ("1. The company shall not raise funds in any public manner; 2. It shall not conduct securities products and financial derivative transactions in any public manner; 3. It shall not issue loans; 4. It shall not provide guarantees for enterprises other those it invests in; 5. It shall not promise any principal guarantee or minimum return to investors"; (Market participants independently select the | 100.00% | 0.00% | Founded by investment |
| business activities and carry out the business activities in accordance with laws and regulations; sales of food and business activities subject to approval in accordance with laws and regulations, operations may be conducted only with the approval of relevant government authorities; business activities prohibited and restricted by the industrial policies of the state and the city.)) | |||||||
| BOE Smart Technology Co., Ltd. | 6,521,250,000.00 | Beijing, China | Beijing, China | Provision of hardware and software integrated system solutions for the IoT market segment; smart city, smart transport, smart finance, smart parks and the display terminal products such as the smart all-in-one machines | 100.00% | 0.00% | Founded by investment |
| Nanjing BOE Display Technology Co., Ltd. | 17,500,000,000.00 | Nanjing, China | Nanjing, China | R&D, manufacturing and sales of TFT-LCD panels, color filters and whole liquid crystal modules; provision of products and business-related services, as well as other business activities associated with the foregoing; proprietary and agency import and export of various goods and technologies (excluding goods and technologies restricted by state or import & export prohibited). (For items that require approval by law, the approval from related authorities must be obtained before engagement in the business activities) | 80.83% | 0.00% | Business combinations involving entities not under common control |
| Chengdu BOE Display Technology Co., Ltd. | 21,550,000,000.00 | Chengdu, China | Chengdu, China | R&D, production and sales of TFT-LCD panels and modules, Liquid Crystal Display (LCD), televisions, instruments, machinery equipment and accessories as well as provision of technical services; foreign trade in form of import and export of goods and technology. (For items that require approval by law, the approval from related authorities must be obtained before engagement in the business activities). | 35.03% | 0.00% | Business combinations involving entities not under common control |
| BOE Jingxin Technology Co., Ltd. | 2,140,000,000.00 | Beijing, China | Beijing, China | Technology development, technology consultancy, technology transfer, and technology services; basic software services; application software services; computer system services; Internet data services (excluding data centres in Internet data services and cloud computing data centre with PUE over 1.4); information processing and storage support services; general contracting, professional contracting, and labour subcontracting; equipment installation, maintenance, and leasing; literary and artistic creation; computer animation design; product design; enterprise management consulting; sales of computers, software and auxiliary equipment, as well as electronic products. | 100.00% | 0.00% | Founded by investment |
| BOE Environmental | 100,000,000.00 | Beijing, China | Beijing, China | Energy-saving technology, new energy technology for | 100.00% | 0.00% | Founded by |
| and Energy Technology Co., Ltd. | environmental protection, environmental protection equipment, solar power generation, technology development, technology consulting, technology transfer, technology promotion, technology services, and technology testing for building integrated photovoltaics and green building, electric power, and power station operation and maintenance; software development; internet data services (data centres in Internet data services, excluding cloud computing data centres with a PUE over 1.4); information processing and storage support services (data centres in information processing and storage support services, excluding cloud computing data centres with a PUE over 1.4); energy management contracting; water contamination governance; atmospheric pollution governance; solid wastes governance; soil pollution control and remediation services; environmental protection monitoring; installation, maintenance and lease of equipment; professional design services; property management; sales of special equipment for environmental protection, illuminating equipment, electronic products, machinery and equipment, electrical equipment, instruments, hardware products, computers, software and ancillary equipment, and chemical products (excluding licensed chemical products); import and export of goods; import and export of technologies; agency of import & export; power service; construction engineering design; electrical installation services; miscellaneous engineering construction activities; general contracting of housing construction and municipal infrastructure project engineering; construction labour subcontracting. | investment | |||||
| Chengdu BOE Display Technology Co., Ltd. | 38,000,000,000.00 | Chengdu, China | Chengdu, China | General items: Technological services, development, consultancy, exchanges, transfer, and promotion; manufacturing of display devices [operated by a branch]; sales of display devices; manufacturing of electronic components [operated by a branch]; wholesale of electronic components; manufacturing of other electronic devices [operated by a branch]; import and export of goods; import and export of technologies; business management consultancy; property management; rental of non-residential real estate; leasing of machinery equipment. (business activities shall be conducted independently in accordance with laws with the business license, except the items that require approval in accordance with laws) | 52.63% | 0.00% | Founded by investment |
| Beijing BOE Chuangyuan Technology Co., Ltd. | 14,500,000,000.00 | Beijing, China | Beijing, China | Manufacturing of display devices; sales of display devices; manufacturing of electronic components; wholesale of electronic components; technological services, development, consultancy, exchanges, transfer, and promotion; import and export of goods; import and export of technologies; business management consultancy; property management; leasing of machinery equipment; manufacturing of other electronic devices. | 79.31% | 0.00% | Founded by investment |
| Mianyang BOE Electronics Technology Co., Ltd. | 2,400,000,000.00 | Sichuan, China | Sichuan, China | General items: Manufacturing of display devices; sales of display devices; manufacturing of electronic components; technological services, development, consultancy, exchanges, transfer, and promotion; leasing of machinery equipment; integration of intelligent control systems; integration services of information systems; manufacturing of industrial control computers and systems; loT technological services; data processing services; sales of electronic products; sales of digital and cultural creative equipment; sales of semiconductor lighting devices; integration services of artificial intelligence application systems; cloud computing equipment and technological services; industrial Internet data services; Internet data services; manufacturing of semiconductor lighting devices; sales of new energy original equipment; import and export of technologies. (business activities shall be conducted independently in accordance with laws with the business license, except the items that require approval in accordance with laws) | 100.00% | 0.00% | Founded by investment |
| Beijing Shiyan Technology Co., Ltd. | 209,000,000.00 | Beijing, China | Beijing, China | General items: Technological services, development, consultancy, exchanges, transfer, and promotion; manufacturing of computer hardware and software and peripherals; wholesale of computer hardware and software and auxiliary equipment; retail of computer hardware and software and auxiliary equipment; manufacturing of electronic components; manufacturing of optoelectronic devices; manufacturing of display devices; manufacturing of mobile terminal equipment; manufacturing of virtual reality (V) equipment; TV manufacturing; manufacturing of IoT equipment; sales of electronic products; sales of display devices; sales of mobile terminal equipment; sales of communication equipment; sales of IoT equipment; leasing of computers and communication equipment; manufacturing of integrated circuits; design of | 80.00% | 0.00% | Founded by investment |
| integrated circuits; sales of integrated circuits; manufacturing of chips and products of integrated circuits; software sales; import and export of goods; import and export of technologies; sales of Class I medical devices; production of Class I medical devices; leasing of Class I medical devices; sales of Class II medical devices; leasing of Class II medical devices. (The enterprise shall conduct business activities according to its business license by law, besides projects that must be approved by law.) (The enterprise shall not engage in business activities that are prohibited and restricted by national and municipal industrial policies.) | |||||||
| BOE HC Semitek Co., Ltd. | 1,616,698,797.00 | Wuhan, China | Wuhan, China | Design, manufacturing, sales, and leasing of semiconductor materials and devices, electronic materials and devices, semiconductor lighting equipment, sapphire crystal growth, and sapphire deep processing products; research and development, manufacturing, and provision of technical services for integrated circuits and sensors; import and export of proprietary products and raw materials. (The above business scope does not involve special management measures for foreign investment access; business activities that require approval in accordance with laws shall be subject to approval by relevant authorities) | 23.01% | 0.00% | Business combinations involving entities not under common control |
Notes to holding proportion in subsidiary different from voting proportion:
(1) BOE signed the Agreement of Acting in Concert with Hefei Core Screen Industrial Investment Fund (Limited Partnership). Based on the agreement, Hefei Core Screen Industrial InvestmentFund (Limited Partnership) agreed to act as the persons acting in concert according to the wishes of the Company, and exercised the voting rights unconditionally and irrevocably in accordancewith the opinions of the Company. Therefore, BOE owns 100% of the voting right ratio to Hefei BOE Display and includes it in the consolidation scope.
(2) BOE signed the Agreement of Acting in Concert with Wuhan Airport Economic Development Zone Industrial Development Investment Group Co., Ltd. and Hubei Changbai IndustrialInvestment Fund Partnership (Limited Partnership). Based on the agreement, Wuhan Airport Economic Development Zone Industrial Development Investment Group Co., Ltd. and Hubei ChangbaiIndustrial Investment Fund Partnership (Limited Partnership) agreed to act as the persons acting in concert according to the wishes of the Company, and exercised the voting rights unconditionallyand irrevocably in accordance with the opinions of the Company. Therefore, BOE owns 100% of the voting right ratio to Wuhan BOE Optoelectronics Technology and includes it in theconsolidation scope.
(3) BOE signed the Agreement of Acting in Concert with Chongqing Strategic Emerging Industry Equity Investment Fund Partnership (Limited Partnership) and Chongqing Yuzi OptoelectronicIndustry Investment Co., Ltd., Chongqing Jianxin Junheng Private Equity Fund Partnership (Limited Partnership), and Chongqing Jingping Equity Investment Fund Partnership (LimitedPartnership). Based on the agreement, Chongqing Strategic Emerging Industry Equity Investment Fund Partnership (Limited Partnership) and Chongqing Yuzi Optoelectronic Industry InvestmentCo., Ltd., Chongqing Jianxin Junheng Private Equity Fund Partnership (Limited Partnership), and Chongqing Jingping Equity Investment Fund Partnership (Limited Partnership) agreed to act as
the persons acting in concert according to the wishes of the Company, and exercised the voting rights unconditionally and irrevocably in accordance with the opinions of the Company. Therefore,BOE owns 100% of the voting right ratio to Chongqing BOE Display Technology and includes it in the consolidation scope.
(4) BOE signed the Agreement of Acting in Concert with Fuqing City Invested-Construction Investment Group Co., Ltd. and Fuzhou Urban Construction Investment Group Co., Ltd. Based onthe agreement, Fuqing City Invested-Construction Investment Group Co., Ltd. and Fuzhou Urban Construction Investment Group Co., Ltd. agreed to act as the persons acting in concert accordingto the wishes of the Company, and exercised the voting rights unconditionally and irrevocably in accordance with the opinions of the Company. Therefore, BOE owns 100% of the voting rightratio to Fuzhou BOE Display Technology Co., Ltd. and includes it in the consolidation scope.
(5) BOE signed the Agreement of Acting in Concert with Chengdu Advanced Manufacturing Industry Investment Co., Ltd., Chengdu Airport Xingcheng Investment Group Co., Ltd., Ya’anYashuang Investment Co., Ltd., Nanjing Panda Information Industry Group Co., Ltd., and Zhongdian Financial Investment Holding Co., Ltd., aiming to control Chengdu BOE Display TechnologyCo., Ltd. by acting in concert. Chengdu Advanced Manufacturing Industry Investment Co., Ltd., Chengdu Airport Xingcheng Investment Group Co., Ltd., Chengdu Xihanggang IndustrialDevelopment Investment Co., Ltd., Nanjing Panda Information Industry Group Co., Ltd., and China Electronics Corporation agreed to act as the persons acting in concert according to the wishesof the Company on exercising their shareholders’ rights at the Board of Directors and voting rights on recommended directors in Chengdu CEC Panda Display Technology Co., Ltd., on thepremise of not harming their interests. Therefore, BOE owns 96.75% of the voting right ratio to Chengdu BOE Display Technology Co., Ltd. and includes it in the consolidation scope.
(6) The Company and New Sure Limited entered into the Share Voting Rights Management Agreement on 4 November 2022, pursuant to which New Sure Limited agreed to unconditionally andirrevocably delegate to the Company the exercise and management of its voting, nomination and ancillary rights in respect of its holdings in HC Semitek Corporation; the Company and YiwuHarmony Core Light Equity Investment Partnership (Limited Partnership) signed an agreement on 10 November 2022, whereby Yiwu Harmony Core Light Equity Investment Partnership (LimitedPartnership) undertook that it would not, individually, jointly or with the assistance of a third party, seek to obtain the control over HC Semitek Corporation; Zhuhai Huafa Technology IndustryGroup Co., Ltd. issued a commitment letter to the Company on 10 November 2022, undertaking that Zhuhai Huafa Technology Industry Group Co., Ltd. and its controlled entities will not seekthe control over HC Semitek Corporation individually, jointly or with the assistance of third parties, and will not form a concerted action relationship with the shareholders of HC SemitekCorporation or seek the control over HC Semitek Corporation by way of entrustment, agreement, alliance or signing of a concerted action agreement, etc. Therefore, the Company’s percentage ofvoting rights over HC Semitek Corporation is 26.52%, which makes the Company a controlling shareholder of HC Semitek Corporation.Basis for the control over the investees with half or less voting right and for not controlling the investees with over half voting right:
N/ABasis for the control over the significant structured entities included in the scope of combination:
N/ABasis for the determining the Company as the agent or the trustor:
N/A
Other notes:
N/A
(2) Significant Non-wholly-owned Subsidiary
Unit: RMB
| Name of the subsidiary | Shareholding proportion of non-controlling interests | The profit or loss attributable to the non-controlling interests | Declaring dividends distributed to non-controlling interests | Ending balance of non-controlling interests |
| Wuhan BOE Optoelectronics Technology Co., Ltd. | 52.86% | 424,932,160.00 | 0.00 | 13,420,488,042.00 |
| Chongqing BOE Display Technology Co., Ltd. | 61.54% | -692,572,995.00 | 0.00 | 14,083,652,863.00 |
Notes that the shareholding percentage is different from the voting right percentage of non-controlling shareholders in subsidiaries:
N/AOther notes:
N/A
(3) The Main Financial Information of Significant Not Wholly-owned Subsidiary
Unit: RMB
| Name of the subsidiary | Ending balance | Beginning balance | ||||||||||
| Current assets | Non-current assets | Total assets | Current liabilities | Non-current liabilities | Total liabilities | Current assets | Non-current assets | Total assets | Current liabilities | Non-current liabilities | Total liabilities | |
| Wuhan BOE Optoelectronics Technology Co., Ltd. | 9,333,742,986.62 | 33,151,042,028.74 | 42,484,785,015.36 | 7,312,631,163.58 | 9,783,413,703.31 | 17,096,044,866.89 | 6,885,618,254.22 | 35,269,508,546.96 | 42,155,126,801.18 | 5,377,137,116.84 | 12,197,638,747.26 | 17,574,775,864.10 |
| Chongqing BOE Display Technology Co., Ltd. | 9,136,945,289.03 | 37,071,563,408.70 | 46,208,508,697.73 | 8,985,338,107.92 | 14,337,806,821.57 | 23,323,144,929.49 | 8,098,980,132.31 | 37,527,686,706.61 | 45,626,666,838.92 | 8,612,279,638.41 | 13,005,587,191.90 | 21,617,866,830.31 |
Unit: RMB
| Name of the subsidiary | Reporting Period | Same period of last year | ||||||
| Operating revenue | Net profit | Total comprehensive income | Cash flows from operating activities | Operating revenue | Net profit | Total comprehensive income | Cash flows from operating activities | |
| Wuhan BOE Optoelectronics Technology Co., Ltd. | 8,811,683,594.33 | 803,882,254.73 | 803,882,254.73 | 1,100,104,703.72 | 7,036,723,065.00 | -1,145,636,462.00 | -1,145,636,462.00 | 1,446,335,090.00 |
| Chongqing BOE Display Technology Co., Ltd. | 4,560,307,235.07 | -1,125,402,980.99 | -1,125,402,980.99 | 657,943,221.84 | 1,395,192,424.00 | -190,979,088.00 | -190,979,088.00 | -297,292,696.00 |
Other notes:
N/A
(4) Significant Limitation on the Use of Assets and Liquidation of Debts of the CompanyN/A
(5) Financial Support or Other Support Provided for Structured Entities Included in the Scope of Consolidated FinancialStatementsN/AOther notes:
N/A
2. Transactions That Cause Changes in the Group’s Interests in Subsidiaries That Do Not Result in Loss ofControl
(1) Explanations on Changes in Owner’s Equity of Subsidiary
N/A
(2) The Effects of the Transaction on Non-controlling Interests and Equity Attributable to Owners of the Company as theParent
Unit: RMB
| Item | |
| Purchase cost/disposal consideration | 0.00 |
| -Cash | 0.00 |
| -Fair value of non-cash assets | 0.00 |
| Total of purchase cost/disposal consideration | 0.00 |
| Less: Subsidiary net assets proportion calculated by share proportion obtained/disposal | 0.00 |
| Difference | 0.00 |
| Of which: Adjustment of capital reserves | 0.00 |
| Surplus reserves adjustments | 0.00 |
| Retained profits adjustments | 0.00 |
Other notes:
N/A
3. Equity in Joint Ventures or Associated Enterprises
(1) Significant Joint Ventures or Associated Enterprises
| Name | Main operating place | Registered place | Business nature | Shareholding percentage | Accounting treatment method for the investment in joint ventures or associated | |
| Direct | Indirect | |||||
| enterprises | ||||||
| N/A |
Explanations that the shareholding percentage is different from the voting right percentage in joint ventures or associated enterprises:
N/ABasis of the voting rights below 20% but with major influence, or without major influence but with over 20% (included) voting rightsheld:
N/A
(2) Main Financial Information of Significant Joint Ventures
Unit: RMB
| Item | Ending balance/Reporting Period | Beginning balance/Same period of last year |
| Current assets | 0.00 | 0.00 |
| Of which: Cash and cash equivalents | 0.00 | 0.00 |
| Non-current assets | 0.00 | 0.00 |
| Total assets | 0.00 | 0.00 |
| Current liabilities | 0.00 | 0.00 |
| Non-current liabilities | 0.00 | 0.00 |
| Total liabilities | 0.00 | 0.00 |
| Non-controlling interests | 0.00 | 0.00 |
| Equity attributable to shareholders of the Company as the parent | 0.00 | 0.00 |
| Net assets shares calculated at the shareholding proportion | 0.00 | 0.00 |
| Adjusted items | 0.00 | 0.00 |
| -- Goodwill | 0.00 | 0.00 |
| --Unrealised profit of intra-company transaction | 0.00 | 0.00 |
| --Others | 0.00 | 0.00 |
| Carrying value of equity investment to joint ventures | 0.00 | 0.00 |
| Fair values of equity investments of joint ventures with quoted prices | 0.00 | 0.00 |
| Operating revenue | 0.00 | 0.00 |
| Financial expenses | 0.00 | 0.00 |
| Income tax expenses | 0.00 | 0.00 |
| Net profit | 0.00 | 0.00 |
| Net profit from discontinued operations | 0.00 | 0.00 |
| Other comprehensive income | 0.00 | 0.00 |
| Total comprehensive income | 0.00 | 0.00 |
| Dividends received from the joint | 0.00 | 0.00 |
venture in the current period
Other notes:
N/A
(3) Main Financial Information of Significant Associated Enterprises
Unit: RMB
| Item | Ending balance/Reporting Period | Beginning balance/Same period of last year |
| Current assets | 0.00 | 0.00 |
| Non-current assets | 0.00 | 0.00 |
| Total assets | 0.00 | 0.00 |
| Current liabilities | 0.00 | 0.00 |
| Non-current liabilities | 0.00 | 0.00 |
| Total liabilities | 0.00 | 0.00 |
| Non-controlling interests | 0.00 | 0.00 |
| Equity attributable to shareholders of the Company as the parent | 0.00 | 0.00 |
| Net assets shares calculated at the shareholding proportion | 0.00 | 0.00 |
| Adjusted items | 0.00 | 0.00 |
| -- Goodwill | 0.00 | 0.00 |
| --Unrealised profit of intra-company transaction | 0.00 | 0.00 |
| --Others | 0.00 | 0.00 |
| Carrying value of investment to associated enterprises | 0.00 | 0.00 |
| Fair value of equity investments in associated enterprises with publicly quoted prices | 0.00 | 0.00 |
| Operating revenue | 0.00 | 0.00 |
| Net profit | 0.00 | 0.00 |
| Net profit from discontinued operations | 0.00 | 0.00 |
| Other comprehensive income | 0.00 | 0.00 |
| Total comprehensive income | 0.00 | 0.00 |
| Dividends received from the associates in the current period | 0.00 | 0.00 |
Other notes:
N/A
(4) Summary Financial Information of Insignificant Joint Ventures or Associated Enterprises
Unit: RMB
| Item | Ending balance/Reporting Period | Beginning balance/Same period of last year |
| Joint ventures: | ||
| Total carrying value of investment | 404,488,477.00 | 400,375,826.00 |
| The total of following items according to the shareholding proportions | ||
| --Net profit | 4,112,595.00 | 0.00 |
| --Other comprehensive income | 0.00 | 0.00 |
| --Total comprehensive income | 4,112,595.00 | 0.00 |
| Associated enterprises: | ||
| Total carrying value of investment | 12,752,168,919.00 | 13,331,320,801.00 |
| The total of following items according to the shareholding proportions | ||
| --Net profit | -363,733,282.00 | 698,402,235.00 |
| --Other comprehensive income | -30,842,704.00 | 6,317,985.00 |
| --Total comprehensive income | -394,575,986.00 | 704,720,220.00 |
Other notes:
N/A
(5) Note to the Significant Restrictions on the Ability of Joint Ventures or Associated Enterprises to TransferFunds to the Company
N/A
(6) The Excess Loss of Joint Ventures or Associated Enterprises
Unit: RMB
| Name | The cumulative recognised losses in previous accumulatively derecognized | The derecognized losses (or the share of net profit) in Reporting Period | The accumulative unrecognised losses in Reporting Period |
| Hefei Xin Jing Yuan Electronic Materials Co., Ltd. | 12,153,720.00 | -447,356.00 | 11,706,364.00 |
| Beijing BOE Microbial Technology Co., Ltd. | 1,779,507.00 | -1,779,507.00 | 0.00 |
| Hefei Jiangcheng Technology Co., Ltd. | 13,071,337.00 | 8,051,144.00 | 21,122,481.00 |
Other notes:
N/A
(7) The Unrecognised Commitment Related to Investment to Joint Ventures
N/A
(8) Contingent Liabilities Related to Investment to Joint Ventures or Associated EnterprisesN/A
4. Significant Common Operation
| Name | Main operating place | Registered place | Business nature | Proportion/Share portion | |
| Direct | Indirect | ||||
| N/A | |||||
Notes to holding proportion or share portion in common operation different from voting proportion:
N/AFor common operation as a single entity, basis of classifying as common operation:
N/AOther notes:
N/A
5. Equity in the Structured Entity Excluded in the Scope of Consolidated Financial StatementsNotes to the structured entity excluded in the scope of consolidated financial statements:
N/A
6. Others
N/AXI. Government Grants
1. Government Grants Recognised at the End of the Reporting Period at the Amount Receivable
□Applicable ?Not applicable
Reasons for failing to receive government grants in the estimated amount at the estimated point in time
□Applicable ?Not applicable
2. Liability Items Involving Government Grants
?Applicable □Not applicable
Unit: RMB
| Item | Balance at the beginning of the year | Additions during the year | Amounts recognised in non- | Amounts recognised in other income | Other changes | Ending balance | Related to assets/ income |
| operating income | |||||||
| Deferred Income | 3,758,611,328.00 | 78,772,263.00 | 0.00 | 291,749,132.00 | 16,543,222.00 | 3,529,091,237.00 | Related to assets |
| Deferred Income | 1,004,440,627.00 | 475,900,958.00 | 0.00 | 288,131,897.00 | 3,014,214.00 | 1,189,195,474.00 | Related to income |
3. Government Grants Recognised in Profit or Loss for the Current Period
?Applicable □ Not applicable
Unit: RMB
| Accounting items | Reporting Period | Same period of last year |
| Other income | 767,053,760.00 | 2,720,491,600.00 |
| Non-operating income | 511,047.00 | 213,595.00 |
Other notes:
N/AXII. Risks Associated with Financial Instruments
1. Various Types of Risks Arising from Financial Instruments
1. Credit risk
Credit risk is the risk that one party to a financial instrument will cause a financial loss for the other party by failing to discharge anobligation. The Group’s credit risk is primarily attributable to accounts receivables. Exposure to these credit risks is monitored bymanagement on an ongoing basis.The cash at bank of the Group is mainly held with well-known financial institutions. Management does not foresee any significantcredit risks from these deposits and does not expect that these financial institutions may default and cause losses to the Group.In respect of receivables, the Group has established a credit policy under which individual credit evaluations are performed on allcustomers to determine the credit limit and terms applicable to the customers. These evaluations focus on the customers’ financialposition, the external ratings of the customers and the record of previous transactions. Receivables are due within 7 to 180 days fromthe date of billing. Debtors with balances that are past due are requested to settle all outstanding balances before any further credit isgranted. Normally, the Group does not obtain collateral from customers.The Group’s exposure to credit risk is influenced mainly by the individual characteristics of each customer. Therefore, significantconcentrations of credit risk primarily arise when the Group has significant exposure to individual customers. On the balance sheetdate, the accounts receivable and contract assets of the top five customers of the Group accounted for 32% of the total accountsreceivable and contract assets of the Group (2023: 36%). In addition, the Group’s accounts receivable that are neither overdue norimpaired are mainly related to numerous customers with no recent debt records.The hugest credit risk exposure borne by the Group is the book value of each financial asset reflected in the balance sheet. As stated inNote XVI, as of 30 June 2024, the Group did not provide any external guarantees that could expose the Group to credit risk.
2. Liquidity risk
Liquidity risk is the risk that an enterprise may, due to shortage of funds, face difficulty in fulfilling its obligation to settle paymentsby delivering cash or other financial assets. The Company and its subsidiaries are responsible for their own cash management work,including short-term investments of cash surplus and raising loans to meet expected cash needs (if the borrowing amount exceedscertain predetermined authorization limits, approval from the Company’s Board of Directors is required). The Group’s policy is to
regularly monitor its liquidity requirements and its compliance with lending covenants, to ensure that it maintains sufficient reservesof cash, readily realisable marketable securities and adequate committed lines of funding from major financial institutions to meet itsliquidity requirements in the short and longer term.
3. Interest rate risk
Interest-bearing financial instruments with fixed interest rates and floating interest rates may bring the fair value interest rate risk andcash flow interest rate risk to the Group, respectively. The Group determined relative proportion of fixed interest rate and floatinginterest rate according to the market environment, and maintained an appropriate portfolio of fixed interest rate and floating interestrate through regular review and monitoring. The Group has not hedged interest rate risk with derivative financial instruments.On 30 June 2024, assuming all other variables remain constant, 100 basis points increase/decrease in floating interest rate of financialinstrument interest rates resulted in a decrease/increase of RMB468.52 million (2023: RMB481.87 million) in the Group’s net profitand shareholders’ equity, respectively.For floating rate non-derivative instruments held at the balance sheet date that expose the Group to cash flow interest rate risk, theimpact on net profit and owner’s equity in the above sensitivity analysis is the impact of changes in the above interest rates on interestexpense or income estimated on an annualized basis. The previous year’s analysis was based on the same assumptions and methodology.
4. Foreign currency risk
In respect of cash at bank and on hand, accounts receivable and payable, short-term loans and other assets and liabilities denominatedin foreign currencies other than the functional currency, the Group ensures that its net exposure is kept to an acceptable level by buyingor selling foreign currencies at spot rates when necessary to address short-term imbalances.(a) The foreign currency asset and liability projects of the Group with significant exchange rate risk exposure as of 30 June are mainlydenominated in USD. The total risk exposure of USD projects is a net asset exposure of USD1,089,455,743 (2023 net liability exposure:
USD191,267,567), and the amount converted into RMB at the spot exchange rate on the balance sheet date is RMB7,764,333,189(2023: RMB1,354,690,797). The exchange difference on translating foreign operations is not included.(b) Assuming all other risk variables except for exchange rates remain unchanged, the 5% appreciation/depreciation of the RMB againstthe USD due to the exchange rate fluctuations of the Group on 30 June will result in a decrease/increase of RMB407,979,205 in bothshareholder’s equity and net profit (2023: decrease/increase of RMB105,886,060).The above sensitivity analysis assumes that there is a change in the exchange rate on the balance sheet date, and re-measures thefinancial instruments held by the Japanese group on the balance sheet date that face foreign exchange risk using the changed exchangerate. The above analysis does not include discrepancy of foreign currency statement translation. The previous year’s analysis was basedon the same assumptions and methodology.
2. Hedge
(1) The Company Carries out Hedging Business for Risk Management
□Applicable ?Not applicable
(2) The Company Conducts Eligible Hedging Operations and Applies Hedge Accounting
Unit: RMB
| Item | Carrying value related to hedged items and hedging instruments | Cumulative fair value hedge adjustment of the hedged item included in the recognised carrying value of the hedged item | Hedge effectiveness and hedge ineffectiveness partial sources | Impact of hedge accounting on the Company’s financial statements |
| Types of hedge risk | ||||
| N/A | ||||
| Types of hedge | ||||
| N/A | ||||
Other notes:
N/A
(3) The Company Conducts Hedging Operations for Risk Management, Expects to Achieve Its Risk Management Objectives,but Does Not Apply Hedge Accounting
□Applicable ?Not applicable
3. Financial Assets
(1) Classification of Transfer Methods
□Applicable ?Not applicable
(2) Financial Assets Derecognised due to Transfer
□Applicable ?Not applicable
(3) Continued Involvement in the Transfer of Assets Financial Assets
□Applicable ?Not applicable
Other notes:
N/A
XIII. The Disclosure of Fair Value
1. Ending Fair Value of Assets and Liabilities at Fair Value
Unit: RMB
| Item | Ending fair value | |||
| Level 1 Fair value measurement | Level 2 Fair value measurement | Level 3 Fair value measurement | Total | |
| I. Consistent fair value measurement | -- | -- | -- | -- |
| 1. Trading financial assets | 174,207,239.00 | 0.00 | 10,546,796,180.00 | 10,721,003,419.00 |
| (1) Financial assets at fair value through profit or loss | 174,207,239.00 | 0.00 | 10,546,796,180.00 | 10,721,003,419.00 |
| 1) Debt instruments investment | 0.00 | 0.00 | 8,220,319,994.00 | 8,220,319,994.00 |
| 2) Equity instruments investment | 174,207,239.00 | 0.00 | 2,326,476,186.00 | 2,500,683,425.00 |
| 3) Derivative financial assets | 0.00 | 0.00 | 0.00 | 0.00 |
| (2) Financial assets assigned measured by fair value and the changes be included in the current gains and losses | 0.00 | 0.00 | 0.00 | 0.00 |
| 1) Debt instruments investment | 0.00 | 0.00 | 0.00 | 0.00 |
| 2) Equity instruments investment | 0.00 | 0.00 | 0.00 | 0.00 |
| 2. Investment in other debt obligations | 0.00 | 0.00 | 0.00 | 0.00 |
| 3. Other equity instrument investment | 176,775,824.00 | 0.00 | 304,043,078.00 | 480,818,902.00 |
| 4. Investment properties | 0.00 | 0.00 | 0.00 | 0.00 |
| (1) Land use right for rent | 0.00 | 0.00 | 0.00 | 0.00 |
| (2) Rental buildings | 0.00 | 0.00 | 0.00 | 0.00 |
| (3) Land use right held and prepared to transfer after appreciation | 0.00 | 0.00 | 0.00 | 0.00 |
| 5. Biological assets | 0.00 | 0.00 | 0.00 | 0.00 |
| (1) Consumable biological assets | 0.00 | 0.00 | 0.00 | 0.00 |
| (2) Productive living assets | 0.00 | 0.00 | 0.00 | 0.00 |
| Accounts receivable financing | 0.00 | 0.00 | 428,298,548.00 | 428,298,548.00 |
| Total assets measured at fair value on a recurring basis | 350,983,063.00 | 0.00 | 11,279,137,806.00 | 11,630,120,869.00 |
| 6. Trading financial liabilities | 0.00 | 0.00 | 0.00 | 0.00 |
| Of which: Tradable bond issued | 0.00 | 0.00 | 0.00 | 0.00 |
| Derivative financial liabilities | 0.00 | 0.00 | 0.00 | 0.00 |
| Others | 0.00 | 0.00 | 0.00 | 0.00 |
| 7. Refer as financial liabilities measured by fair value and the changes included in the current gains and losses | 0.00 | 0.00 | 0.00 | 0.00 |
| Total liabilities of consistent fair value | 0.00 | 0.00 | 0.00 | 0.00 |
| measurement | ||||
| II. Inconsistent fair value measurement | -- | -- | -- | -- |
| 1. Assets held for sale | 0.00 | 0.00 | 0.00 | 0.00 |
| Total assets inconsistently measured at fair value | 0.00 | 0.00 | 0.00 | 0.00 |
| Total liabilities inconsistently measured at fair value | 0.00 | 0.00 | 0.00 | 0.00 |
2. Basis of Determining the Market Price for Recurring and Non-recurring Fair Value MeasurementsCategorized within Level 1The unadjusted offer in active market obtaining same assets or liabilities on the calculation date.
3. Consistent and Inconsistent Fair Value Measurement Items at Level 2, Valuation Techniques Adopted, theQualitative and Quantitative Information of Important Parameters
Observable input value of related assets or liabilities except Level 1 input value.
4. Consistent and Inconsistent Fair Value Measurement Items at Level 3, Valuation Techniques Adopted, theQualitative and Quantitative Information of Important ParametersThe unobservable input value of related assets or liabilities.
5. Consistent Fair Value Measurement Items at Level 3, Adjustment between the Beginning Carrying Valueand the Ending Carrying Value and Sensitivity Analysis on Unobservable ParametersN/A
6. Explain the Reason for Conversion and the Policy Governing when the Conversion Happens if ConversionHappens among Consistent Fair Value Measurement Items at Different LevelN/A
7. Changes in Valuation Techniques in the Reporting Period and Reasons for the Changes
N/A
8. Fair Value of Financial Assets and Liabilities Not Measured at Fair Value
N/A
9. Others
N/A
XIV. Related Party and Related-party Transactions
1. Information on the Company as the Parent
| Company name | Registered place | Business nature | Registered capital | Proportion of share held by the Company as the parent against the Company (%) | Proportion of voting rights owned by the Company as the parent against the Company (%) |
| Beijing Electronics Holding Co., Ltd. | Area A, 6 Sanlitun West Sixth Street, Chaoyang District, Beijing | Operation and management of state-owned assets within authorization, etc. | RMB3,139,210,000.00 | 0.73% | 12.37% |
Notes to the Company as the parentN/AThe final controller of the Company is Beijing Electronics Holding Co., Ltd.Other notes:
N/A
2. Subsidiaries of the Company
Please refer to Note X-1 for details on the Company’s subsidiaries.
3. Information on the Joint Ventures and Associated Enterprises of the Company
For information of significant joint ventures or associated enterprises of the Company, please refer to Note X-3.List of other joint ventures and associated enterprises that made connected transactions with the Company generating balance duringor before the Reporting Period:
| Name | Relationship with the Company |
| BOE Art Cloud Technology Co., Ltd. | An affiliated enterprise of the Group and the Company |
| Beijing Xindongneng Investment Management Co., Ltd. | An affiliated enterprise of the Group and the Company |
| BOE Digital Technology Co., Ltd. | An affiliated enterprise of the Group and the Company |
| Suzhou Chuangyi Cultural Technology Co., Ltd. | An affiliated enterprise of the Group and the Company |
| TPV Display Technology (China) Co., Ltd. | An affiliated enterprise of the Group and the Company |
| BOE Art Cloud (Hangzhou) Technology Co., Ltd. | An affiliated enterprise of the Group and the Company |
| BOE Art Cloud (Suzhou) Technology Co., Ltd. | An affiliated enterprise of the Group and the Company |
| Beijing Nittan Electronic Co., Ltd. | An affiliated enterprise of the Group and the Company |
| BOE Art Cloud (Yibin) Technology Co., Ltd. | An affiliated enterprise of the Group and the Company |
| BOE Art Cloud (Beijing) Technology Co., Ltd. | An affiliated enterprise of the Group and the Company |
| Beijing Nissin Electronic Precision Components Co., Ltd. | An affiliated enterprise of the Group and the Company |
| Biochain (Beijing) Science-Technology In.c | An affiliated enterprise of the Group |
| Beijing BOE Microbial Technology Co., Ltd. | An affiliated enterprise of the Group |
| VUSIONGROUP S.A. | An affiliated enterprise of the Group |
| Hefei Xin Jing Yuan Electronic Materials Co., Ltd. | An affiliated enterprise of the Group |
| Hefei Jiangcheng Technology Co., Ltd. | An affiliated enterprise of the Group |
| Dongfang Juzhi (Beijing) Technology Innovation Co., Ltd. | An affiliated enterprise of the Group |
| Chongqing Maite Optoelectronics Co., Ltd. | An affiliated enterprise of the Group |
| Beijing Borcheng Medical Laboratory Co. Ltd. | A subsidiary of the Group’s affiliated enterprise |
| Changzhou Xiruojia Medical Technology Co., Ltd | A subsidiary of the Group’s affiliated enterprise |
| Beijing Modern Gaoda Biotechnology Co., Ltd | A subsidiary of the Group’s affiliated enterprise |
| Pervasive Displays Inc | A subsidiary of the Group’s affiliated enterprise |
| VUSIONGROUP GMBH | A subsidiary of the Group’s affiliated enterprise |
| PDi Digital GmbH | A subsidiary of the Group’s affiliated enterprise |
Other notes:
N/A
4. Information on Other Related Parties
| Name of other related parties | Relationship with the Company |
| Beijing Electronics Holding Co., Ltd. | A controlling shareholder of the Company |
| Beijing Smart-Aero Display Technology Co., Ltd. | An enterprise controlled by the same ultimate holding company |
| Beijing Zhengdong Electronic Power Group Co., Ltd. | An enterprise controlled by the same ultimate holding company |
| Beijing Electrical Control Jiuyi Industrial Development Company | An enterprise controlled by the same ultimate holding company |
| Beijing Electronic Digital Intelligence Technology Co., Ltd. | An enterprise controlled by the same ultimate holding company |
| Beijing C&W Intelligent Equipment Co., Ltd. | An enterprise controlled by the same ultimate holding company |
| Beijing Naura Microelectronics Equipment Co., Ltd. | An enterprise controlled by the same ultimate holding company |
| Beijing Zhaowei Technology Development Co., Ltd. | An enterprise controlled by the same ultimate holding company |
| 761 Workshop (Beijing) Technology Development Co., Ltd. | An enterprise controlled by the same ultimate holding company |
| Sevenstar Semiconductor Technologies Co., Ltd. | An enterprise controlled by the same ultimate holding company |
| Beijing Ether Electronics Group Co., Ltd. | An enterprise controlled by the same ultimate holding company |
| Beijing BOE Investment Development Co., Ltd. | An enterprise controlled by the same ultimate holding company |
| Electronic City (Tianjin) Mobile Internet Industry Platform Development Co., Ltd. | An enterprise controlled by the same ultimate holding company |
| NAURA Technology Group Co., Ltd. | An enterprise controlled by the same ultimate holding company |
| Beijing Yan Dong Microelectronic Technology Co., Ltd. | An enterprise controlled by the same ultimate holding company |
| Beijing Electronic Zone High-tech Group Co., Ltd. | An enterprise controlled by the same ultimate holding company |
| Beijing Dongdian Industrial Development Co., Ltd. | An enterprise controlled by the same ultimate holding company |
| Beijing Electric Control Intelligent Energy Co., Ltd | An enterprise controlled by the same ultimate holding company |
| Beijing Dahua Radio Instrument Co., Ltd | An enterprise controlled by the same ultimate holding company |
| Beijing Zhaowei Electronics (Group) Co., Ltd | An enterprise controlled by the same ultimate holding company |
| Beijing Qixing Huadian Technology Group Co., Ltd. | An enterprise controlled by the same ultimate holding company |
| Convener Technology Limited. | An enterprise controlled by the same ultimate holding company |
| Beijing Peony Electronic Group Co., Ltd. | An enterprise controlled by the same ultimate holding company |
| Beijing Qixing Huachuang Flow Meter Co., Ltd. | An enterprise controlled by the same ultimate holding company |
| Beijing Yiheng Property Management Co., Ltd | An enterprise controlled by the same ultimate holding company |
| Beijing Jinlong Building Co., Ltd | An enterprise controlled by the same ultimate holding company |
| Zhongguancun Electronic City (Kunming) Science and Technology Industrial Park Development and Construction Co., Ltd. | An enterprise controlled by the same ultimate holding company |
| Beijing Jingdian Import and Export Co., Ltd. | An enterprise controlled by the same ultimate holding company |
| New Vision Microelectronics (Hong Kong) Limited | An associate enterprise of the enterprise controlled by the same ultimate holding company |
| Shanghai New Vision Microelectronics Co., Ltd. | An associate enterprise of the enterprise controlled by the same ultimate holding company |
| Shanghai National Engineering Research Center of Digital TV Co., Ltd. | An associate enterprise of the enterprise controlled by the same ultimate holding company |
| Beidian New Energy Technology (Jiangsu) Co., Ltd. | An enterprise controlled by the same ultimate holding company for the past 12 months |
| Baic Electronics Holding SK (Jiangsu) Technology Co., Ltd. | An enterprise controlled by the same ultimate holding company for the past 12 months/Others |
| Beijing Electronics Holding & SK Technology Co., Ltd. | An enterprise controlled by the same ultimate holding company for the past 12 months/Others |
| Beijing Deheng Law Office | Others |
| China Minsheng Bank Co., Ltd. | Others |
Other notes:
N/A
5. Transactions with Related Parties
(1) Information on Acquisition of Goods and Reception of Labor Service
Information on acquisition of goods and reception of labor service
Unit: RMB
| Name of related party | Nature of transaction | Reporting Period | The approval trade credit | Whether exceed trade credit or not | Same period of last year |
| Beijing Electronics Holding Co., Ltd and its auxiliary enterprises | Purchase of goods | 123,549,110.00 | 1,150,000,000.00 | No | 126,531,434.00 |
| Beijing Electronics Holding Co., Ltd and its auxiliary enterprises | Receiving of labor service | 8,483,448.00 | 30,000,000.00 | No | 4,882,973.00 |
| Other related parties | Purchase of goods | 457,380,181.00 | 1,020,000,000.00 | No | 419,867,816.00 |
| Other related parties | Receiving of labor service | 1,065,672.00 | 5,000,000.00 | No | 104,939.00 |
| Other related parties | Interest costs | 16,286,186.00 | 47,500,000.00 | No | 17,315,453.00 |
Information of sales of goods and provision of labor service
Unit: RMB
| Name of related party | Nature of transaction | Reporting Period | Same period of last year |
| Beijing Electronics Holding Co., Ltd and its auxiliary enterprises | Sales of goods | 176,825,813.00 | 273,238,127.00 |
| Beijing Electronics Holding Co., Ltd and its auxiliary enterprises | Rendering of labor service | 7,704,954.00 | 2,948,091.00 |
| Other related parties | Sales of goods | 1,464,476,829.00 | 1,673,991,112.00 |
| Other related parties | Rendering of labor service | 2,831,408.00 | 2,365,367.00 |
| Other related parties | Interest income | 17,497,930.00 | 11,933,168.00 |
Notes to acquisition of goods and reception of labor serviceN/A
(2) Connected Trusteeship/Contract and Entrust/Contractee
Lists of connected trusteeship/contract of the Company:
Unit: RMB
| Name of the entruster/contractee | Name of the entrustee/contractor | Type | Start date | Due date | Pricing basis | Income recognized in this Current Period |
| N/A |
Notes:
N/ALists of entrust/contractee of the Company:
Unit: RMB
| Name of the entruster/contractee | Name of the entrustee/contractor | Type | Start date | Due date | Pricing basis | Income recognised in the Reporting Period |
| N/A |
Notes to entrust/contracteeN/A
(3) Information on Connected Lease
The Company was lessor:
Unit: RMB
| Name of lessee | Type of assets leased | The lease income confirmed in the Reporting Period | The lease income confirmed in the same period of last year |
| Beijing Electronics Holding Co., Ltd and its auxiliary enterprises | Investment properties | 1,826,277.00 | 1,682,277.00 |
| Other related parties | Investment properties | 5,033,611.00 | 971,113.00 |
The Company served as the lessee:
Unit: RMB
| Name of lessor | Type of assets leased | Rental expenses of short-term lease simplified treated and low-value asset lease (if applicable) | Variable lease payments not included in the measurement of lease liabilities (if applicable) | Paid rent | Income expense of lease liabilities undertaken | Increased right-of-use assets | |||||
| Reporting Period | Same period of last year | Reporting Period | Same period of last year | Reporting Period | Same period of last year | Reporting Period | Same period of last year | Reporting Period | Same period of last year | ||
| Beijing Electronics Holding Co., Ltd and its auxiliary enterprises | Fixed assets | 0.00 | 0.00 | 0.00 | 0.00 | 1,400,965.57 | 1,526,423.00 | 9,049.43 | 79,763.00 | 0.00 | 0.00 |
| Other related | Fixed assets | 176,015.00 | 143,991.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
parties
Notes to connected lease:
N/A
(4) Connected Guarantee
The Company was guarantor:
Unit: RMB
| Secured party | Amount | Start date | Due date | Whether completely performed |
| N/A |
The Company was secured party
Unit: RMB
| Guarantee | Amount | Start date | Due date | Whether completely performed |
| N/A |
Notes to connected guaranteeN/A
(5) Interbank Borrowing and Lending of Capital by Connected Party
Unit: RMB
| Name of related party | Amount | Inception date | Maturity date | Note |
| Borrowing | ||||
| N/A | ||||
| Lending | ||||
| N/A | ||||
(6) Information on Assets Transfer and Debt Restructuring by Related Party
Unit: RMB
| Name of related party | Nature of transaction | Reporting Period | Same period of last year |
| N/A |
(7) Information on Remuneration for Key Management Personnel
Unit: RMB
| Item | Reporting Period | Same period of last year |
| Remuneration for key management personnel | 13,303,080.00 | 38,920,597.00 |
(8) Other Connected Transactions
N/A
6. Receivables from and Payables to Related Parties
(1) Accounts Receivable
Unit: RMB
| Item | Name of related party | Ending balance | Beginning balance | ||
| Carrying amount | Provision for impairment | Carrying amount | Provision for impairment | ||
| Accounts receivable | Beijing Electronics Holding Co., Ltd and its auxiliary enterprises | 105,243,438.00 | 1,198.00 | 128,879,483.00 | 1,198.00 |
| Contract assets | Beijing Electronics Holding Co., Ltd and its auxiliary enterprises | 2,049,763.00 | 0.00 | 80,088.00 | 0.00 |
| Other receivables | Beijing Electronics Holding Co., Ltd and its auxiliary enterprises | 581,260.00 | 0.00 | 577,297.00 | 0.00 |
| Prepayments | Beijing Electronics Holding Co., Ltd and its auxiliary enterprises | 8,882.00 | 0.00 | 3,566,912.00 | 0.00 |
| Other non-current assets | Beijing Electronics Holding Co., Ltd and its auxiliary enterprises | 102,685,032.00 | 0.00 | 16,934,571.00 | 0.00 |
| Cash at bank | Other related parties | 1,022,865,222.00 | 0.00 | 1,147,791,923.00 | 0.00 |
| Accounts receivable | Other related parties | 834,668,372.00 | 4,890,798.00 | 719,876,106.00 | 4,882,516.00 |
| Contract assets | Other related parties | 3,953,685.00 | 0.00 | 6,897,702.00 | 0.00 |
| Other receivables | Other related parties | 143,010.00 | 0.00 | 210,222.00 | 0.00 |
| Prepayments | Other related parties | 6,388,574.00 | 0.00 | 6,487,851.00 | 0.00 |
(2) Accounts Payable
Unit: RMB
| Item | Name of related party | Ending carrying balance | Beginning carrying balance |
| Accounts payable | Beijing Electronics Holding Co., Ltd and its auxiliary enterprises | 60,588,041.00 | 47,758,870.00 |
| Other payables | Beijing Electronics Holding Co., Ltd and its auxiliary enterprises | 135,439,502.00 | 200,799,254.00 |
| Advance payments received | Beijing Electronics Holding Co., Ltd and its auxiliary enterprises | 0.00 | 1,951.00 |
| Contract liabilities | Beijing Electronics Holding Co., Ltd and its auxiliary | 2,931,969.00 | 5,744,511.00 |
| enterprises | |||
| Non-current Liabilities Due within One Year | Other related parties | 68,000,000.00 | 6,000,000.00 |
| Long-term loans | Other related parties | 1,042,750,000.00 | 1,107,750,000.00 |
| Accounts payable | Other related parties | 108,557,944.00 | 66,524,069.00 |
| Other payables | Other related parties | 26,267,722.00 | 1,571,911.00 |
| Advance payments received | Other related parties | 16,293.00 | 101,782.00 |
| Contract liabilities | Other related parties | 20,687,945.00 | 18,324,310.00 |
7. Commitments of the Related Parties
As at the balance sheet date, the commitments of the related parties, which are signed but not listed in balance sheet, are for theprocurement of equipment. The amount in the current period was RMB192,572,743.65, as compared with RMB57,524,635.00 in theprevious period.XV. Share-based Payment
1. Overview of Share-based Payments
?Applicable □ Not applicable
Unit: RMB
| Type of grantees | Awarded in the current period | Option exercise in the current period | Unlocked in the current period | Lapsed in the current period | ||||
| Quantity | Amount | Quantity | Amount | Quantity | Amount | Quantity | Amount | |
| Senior managers appointed by the Board of Directors | 0.00 | 0.00 | 0.00 | 0.00 | 3,944,160.00 | 10,570,349.00 | 0.00 | 0.00 |
| Technical experts, middle-level managers and above | 0.00 | 0.00 | 0.00 | 0.00 | 91,915,315.00 | 246,333,044.00 | 2,547,779.00 | 6,828,048.00 |
| Manager and senior technical cadre | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 13,046,350.00 | 24,769,596.00 |
| Total | 0.00 | 0.00 | 0.00 | 0.00 | 95,859,475.00 | 256,903,393.00 | 15,594,129.00 | 31,597,644.00 |
Share options or other equity instruments outstanding at the end of the period?Applicable □ Not applicable
| Type of grantees | Share options outstanding at the end of the period | Other equity instruments outstanding at the end of the period | ||
| Range of exercise prices | Remaining contractual life | Range of exercise prices | Remaining contractual life | |
| Manager and senior technical cadre | RMB5.059-5.559/share | 1-2.5 years | N/A | N/A |
Other notes:
The general meeting of shareholders of the Company approved the implementation of the share options and restricted share incentiveplans on 17 November 2020. The shares for the share options and restricted share incentive plans are from the Company’s RenminbiA-share ordinary shares repurchased from secondary market.The grant plans for the share options and restricted share incentive plans are presented as follows:
(1) Share option incentive plan
The grant plan of share option incentive plan is divided into initial grant and reserved grant. Specifically, the first grant was granted on21 December 2020, and was completed on 25 December 2020. 1,988 people were actually granted, with a total of 596,229,700 sharesgranted; the reserved grant was completed on 22 October 2021, with 110 people granted actually and 33,000,000 shares granted.After 24 months from the grant date, share options were exercised in three phases, with exercise ratios of 34%, 33%, and 33% for eachphase. The corresponding exercise dates were two years, three years, and four years from the grant date.The Group determined the fair value of equity instruments on the grant date based on the difference between the assessed fair valueand subscription price of share options that can be exercised in each period (initial grants were RMB1.68/share, RMB1.93/share, andRMB2.09/share, with reserved grants of RMB1.70/share, RMB2.02/share, and RMB2.17/share, respectively).When the performance of the Company meets the corresponding conditions, the exercise ratio of the above-mentioned share optionsshall be determined based on the operating performance of the incentive object’s unit and the value contribution of the incentive object.If the exercise conditions stipulated in this plan are not met, the Company shall cancel the current exercisable shares of the optionsobtained by the incentive objects in accordance with this plan.
(2) Restricted share incentive plan
The grant date of the restricted share incentive plan was 21 December 2020, and it was completed on 29 December 2020. The actualnumber of grants was 793, with 321,813,800 shares granted.Restricted shares had lock up periods of 24 months, 36 months, and 48 months from the grant date. During the restricted period, therestricted shares granted to the incentive objects under this plan shall not be transferred, used as collaterals, or used to repay debtsbefore the restriction is lifted; after 24 months from the grant date, the unlocking will be divided into three periods, with unlockingproportions of 34%, 33%, and 33% for each period. The corresponding unlocking dates were two years, three years, and four yearsfrom the grant date. The actual unlocking quantity shall be linked to the performance assessment results of the previous year.The Group determined the fair value of equity instruments on the grant date based on the difference between the fair value of the shareson the grant date and the subscription price of RMB2.68 per share.When the performance of the Company meets the corresponding conditions, the unlocking ratio of the above-mentioned restrictedshares for the current period will be determined based on the operating performance of the incentive object’s unit and the valuecontribution of the incentive recipient.The lifting of the restriction conditions in the first lifting restriction period for restricted shares granted by the 2020 Share Option andRestricted Share Incentive Plan of the Company has been achieved. The first exercise period of the share option granted for the firsttime has met the exercise conditions. According to the authorisation of the second extraordinary general meeting of shareholders in2020, the Board of Directors shall handle all necessary matters for the lifting of restrictions or exercise of rights on eligible incentiveobjects. The total number of incentive objects whose restrictions were lifted was 746. Statistically, 102,260,780 restricted shares werelifted out of restrictions, accounting for 0.27% of the current total share capital of the Company. There was a total of 1,820 incentiveobjects who met the conditions for option exercise this time, and the number of feasible share options was183,779,741, accounting for
0.48% of the Company’s total share capital.
The first exercise period reserved for granting share options in the Company’s 2020 Share Option Incentive Plan has met the exerciseconditions. According to the authorisation of the second extraordinary general meeting of shareholders in 2020, the Board of Directorsshall handle all necessary matters for the lifting of restrictions or exercise of rights on eligible incentive objects. There was a total of93 incentive objects who met the conditions for option exercise this time, and the number of feasible share options was 9,468,320,accounting for 0.03% of the Company’s total share capital.
According to the authorization of the second extraordinary general meeting of shareholders in 2020, the board of directors handled thelifting of the restriction in accordance with the relevant regulations for the incentive objects that meet the restrictions on sales. A totalof 716 incentive recipients were lifted this time, and the number of restricted shares released from the restriction was 95,859,475 shares,accounting for 0.2546% of the company's current total share capital.If the unlocking conditions stipulated in the plan were not met, the restricted shares of incentive objects shall not be unlocked for thecurrent period and shall be repurchased by the Company in accordance with the grant price for the incentive objects.
2. Equity-settled share-based payments
?Applicable □ Not applicable
Unit: RMB
| Methods for determining the fair value of equity instruments on the grant date | Share options: The Group determined the fair value of equity instruments at the grant date based on the difference between the assessed fair value of the exercisable share options at grant date and the subscription price in RMB. Restricted shares: The Group determined the fair value of equity instruments at the grant date based on the difference between the fair value of shares at the grant date and the subscription price. |
| Important parameters for the fair value of equity instruments at the grant date | Share options: RMB1.68/share, RMB1.93/share and RMB2.09/share for the first batch and RMB1.70/share, RMB2.02/share and RMB2.17/share for the second batch, respectively. Restricted shares: The Group determined the fair value of equity instruments at the grant date based on the difference between the fair value of the shares at the grant date and the subscription price of RMB2.68 per share. |
| Basis of determining the number of equity instruments expected to vest | At each balance sheet date during the vesting period, the best estimation is made according to the latest information, such as the number of employees who are granted options and the completion of performance indicators, and the number of equity instruments expected to vest is revised accordingly. On the vesting date, the estimated number is equal to the number of equity instruments that are ultimately vested. |
| Reasons for the significant discrepancy between the current period estimates and the previous estimates | N/A |
| Accumulated amount of equity-settled share-based payment included in capital reserves | 1,658,376,027.00 |
| The total amount of the expense of equity-settled share-based payment recognised in the current period | 80,951,649.00 |
Other notes:
N/AXVI. Commitments and Contingency
1. Significant Commitments
Significant commitments on the balance sheet date
| Unit: RMB | ||||
| The Group | 30 June 2024 | 31 December 2023 | ||
| Investment contracts entered into but not performed or partially performed | 23,104,998,917.00 | 15,399,501,743.00 | ||
| Investment contracts authorized but not entered into | 107,661,458,033.00 | 123,338,068,701.00 | ||
| Total | 130,766,456,950.00 | 138,737,570,444.00 | ||
| Unit: RMB | ||||
| The Company | 30 June 2024 | 31 December 2023 | ||
| Investment contracts entered into but not performed or partially performed | 40,011,474,446.00 | 42,398,401,670.00 | ||
| Investment contracts authorized but not entered into | 0.00 | 0.00 | ||
| Total | 40,011,474,446.00 | 42,398,401,670.00 | ||
XVII. Other Significant Events
1. The Accounting Errors Correction in Previous Period
(1) Retrospective restatement
Unit: RMB
| Content | Processing program | Name of the influenced report items during comparison period | Accumulative impact |
| N/A |
(2) Prospective application
| Content | Processing program | Reason for adopting prospective application |
| N/A |
2. Debt Restructuring
N/A
3. Assets Replacement
(1) Non-monetary assets exchange
N/A
(2) Other assets replacement
N/A
4. Pension Plans
In order to ensure and improve the living standards of retirees in BOE Technology Group Co., Ltd. and put in place a multi-layer old-age security system and a long-term talent retaining mechanism, as per China’s relevant policies and regulations, BOE TechnologyGroup Co., Ltd. has established the annuity programme since January 2014. The annuity fund consists of the contributions by theCompany (paid as per the government’s regulations according to the applicable taxation policy), the contributions by employees(deducted by the Company from their salaries according to the applicable taxation policy) and the returns on investment by the fund(operated by the relevant government department according to the investment principle of high security and moderate income).
5. Discontinued Operations
Unit: RMB
| Item | Income | Costs | Profit before taxation | Income tax expenses | Net profit | Profit from discontinued operations attributable to owners of the Company as the parent |
| N/A |
Other notes:
N/A
6. Segment Information
(1) Recognition Basis and Accounting Policies of Reportable Segment
1) Display devices business—The display devices business offers integrated design and manufacturing services for devices, and iscommitted to providing interface devices applying TFT-LCD, AMOLED, Microdisplay and other technologies, focusing on providingcustomers with high-quality display devices for smartphones, TPC, laptops, monitors, TVs, vehicle-mounted, electronic shelf label(ESL), industrial control, household medical applications, applications on wearable devices, whiteboards, tiled display screens,commercial devices, VR/AR display devices, etc.
2) Internet of Things (IoT) innovation business—The IoT Innovation business offers integrated design and manufacturing services forsystem solutions, and provides customers with competitive smart terminal products for TVs, monitors, laptops, TPC, low-powerdevices, IoT, 3D display, etc. Backed by AI and big data technologies, it focuses on products and services combining hardware andsoftware, providing integrated IoT solutions for segments including smart industrial parks, smart finance, smart government affairs andtransportation, visual arts, smart energy, all-in-one machines, etc.
3) Sensor business—The sensing business designs and integrates manufacturing models for system solutions, covering both glass-based and silicon-based areas. It focuses on intelligent windows, innovative glass-based sensor devices, MEMS sensors, industrialsensors, and consumer electronics, and provides customers with products and solutions, including intelligent dimming windows anddimming system solutions, industrial sensors and solutions, MEMS sensors, and the back panels of X-ray FPXDs.
4) MLED business—The MLED business designs and integrates manufacturing models for devices. It provides high-quality LEDbacklight products with high reliability for display products in the fields of TVs, monitors, laptops, automobiles, and VR/AR.Meanwhile, it provides Mini/Micro LED display products, featuring high brightness, high reliability, and high contrast, to applicationsegments, such as outdoor, commercial, transparent, and special display.
5) The Smart Engineering Medicine business—the Smart Engineering Medicine business provides services and solutions for healthcare,intelligent recreation, and medical engineering integration products. At the same time, it creates a full-cycle closed loop of healthservices that centres on health management, is driven by medical engineering terminals, and supported by digital hospitals andhealthcare communities, and establishes an ecosystem of smart health management. Moreover, it connects testing equipment, medicalpersonnel, and customers and provide customers with full-chain professional health services covering "prevention, diagnosis andtreatment, and healthcare".
6) Others—Other services except for the above business provide hardware and software integrated system solutions for differentindustries, including Internet of Vehicles, industrial IoT, digital art, and other fields, which can provide customers with all-dimensional,one-stop and smart new experience under IoT scenarios.The main reason to separate the segments is that the Group independently manages the display devices business, IoT innovationbusiness, sensor business, MLED business, the Smart Engineering Medicine business and other business. As these business segmentsmanufacture and/or sell different products, apply different manufacturing processes and specify in gross profit, the business segmentsare managed independently. The management of the Group evaluates the performance and allocates resources according to the profitof each business segment and does not take financing cost and investment income into account.
(2) The Financial Information of Reportable Segment
Unit: RMB
| Item | Display devices | IoT innovation business | Sensor and solution business | MLED business | Smart medicine and engineering business | Other business and offset among segments | Offset among segments | Total |
| Operating revenue | 78,013,141,508.00 | 17,155,911,452.00 | 163,437,762.00 | 4,033,466,005.00 | 903,706,724.00 | -6,883,421,819.00 | 0.00 | 93,386,241,632.00 |
| Operating costs | 67,160,068,734.00 | 15,276,765,666.00 | 128,092,435.00 | 3,864,203,658.00 | 904,449,563.00 | -8,884,532,580.00 | 0.00 | 78,449,047,476.00 |
XVIII. Notes of Main Items in the Financial Statements of the Company as the Parent
1. Accounts Receivable
(1) Disclosure by Aging
Unit: RMB
| Ageing | Ending carrying balance | Beginning carrying balance |
| Within one year (including one year) | 2,931,734,194.00 | 3,662,390,168.00 |
| One to two years | 87,526,137.00 | 869,370,034.00 |
| Two to three years | 3,281,792.00 | 37,761,471.00 |
| Over three years | 343,464,981.00 | 308,455,842.00 |
| Three to four years | 134,872,508.00 | 302,139,401.00 |
| Four to five years | 202,087,995.00 | 5,092,457.00 |
| Over five years | 6,504,478.00 | 1,223,984.00 |
| Total | 3,366,007,104.00 | 4,877,977,515.00 |
(2) Disclosure by Withdrawal Methods for Bad Debts
Unit: RMB
| Category | Ending balance | Beginning balance |
| Carrying amount | Provision for impairment | Carrying value | Carrying amount | Provision for impairment | Carrying value | |||||
| Amount | Proportion | Amount | Withdrawal proportion | Amount | Proportion | Amount | Withdrawal proportion | |||
| Accounts receivable for which bad debt provision accrued separately | 3,365,768,098.00 | 99.99% | 7,564,419.00 | 0.22% | 3,358,203,679.00 | 4,877,558,682.00 | 99.99% | 7,564,419.00 | 0.16% | 4,869,994,263.00 |
| Of which: | ||||||||||
| Customers with a high credit risk | 7,564,419.00 | 0.22% | 7,564,419.00 | 100.00% | 0.00 | 7,564,419.00 | 0.16% | 7,564,419.00 | 100.00% | 0.00 |
| Customers with a low credit risk | 3,358,203,679.00 | 99.77% | 0.00 | 0.00% | 3,358,203,679.00 | 4,869,994,263.00 | 99.84% | 0.00 | 0.00% | 4,869,994,263.00 |
| Accounts receivable withdrawal of bad debt provision by portfolio | 239,006.00 | 0.01% | 0.00 | 0.00% | 239,006.00 | 418,833.00 | 0.01% | 0.00 | 0.00% | 418,833.00 |
| Of which: | ||||||||||
| Customers with a moderate credit risk | 239,006.00 | 0.01% | 0.00 | 0.00% | 239,006.00 | 418,833.00 | 0.01% | 0.00 | 0.00% | 418,833.00 |
| Total | 3,366,007,104.00 | 100.00% | 7,564,419.00 | 0.22% | 3,358,442,685.00 | 4,877,977,515.00 | 100.00% | 7,564,419.00 | 0.16% | 4,870,413,096.00 |
Category name of bad debt provision accrued separately: Customers with high credit risks and customers with low credit risks
Unit: RMB
| Name | Beginning balance | Ending balance | ||||
| Carrying amount | Provision for impairment | Carrying amount | Provision for impairment | Withdrawal proportion | Reason for withdrawal | |
| Customers with a high credit risk | 7,564,419.00 | 7,564,419.00 | 7,564,419.00 | 7,564,419.00 | 100.00% | N/A |
| Customers with a low credit risk | 4,869,994,263.00 | 0.00 | 3,358,203,679.00 | 0.00 | 0.00% | N/A |
| Total | 4,877,558,682.00 | 7,564,419.00 | 3,365,768,098.00 | 7,564,419.00 | ||
Category name of withdrawal of bad debt provision by portfolio: Customers with moderate credit risk
Unit: RMB
| Name | Ending balance | ||
| Carrying amount | Provision for impairment | Withdrawal proportion | |
| Customers with a moderate credit risk | 239,006.00 | 0.00 | 0.00% |
| Total | 239,006.00 | 0.00 | |
Notes for the basis of determining such portfolio:
| Customer grouping | Grouping basis |
| Customers with a high credit risk | There are special circumstances, such as litigation or deterioration of customer credit standing |
| Customers with a low credit risk | Banks, insurance companies, large central enterprises, and public institutions |
| Customers with a moderate credit risk | Customers not classified as the above grouping |
If adopting the general mode of expected credit loss to withdraw bad debt provision of accounts receivable:
□Applicable ?Not applicable
(3) Bad Debt Provision Withdrawn, Reversed or Recovered in the Reporting Period
Information of bad debt provision withdrawn:
Unit: RMB
| Category | Beginning balance | Changes in the Reporting Period | Ending balance | |||
| Withdrawal | Reversal or recovery | Write-off | Others | |||
| Customers with a high credit risk | 7,564,419.00 | 0.00 | 0.00 | 0.00 | 0.00 | 7,564,419.00 |
| Total | 7,564,419.00 | 0.00 | 0.00 | 0.00 | 0.00 | 7,564,419.00 |
Of which bad debt provision reversed or recovered with significant amount:
Unit: RMB
| Subsidiary | Amount reversed or recovered | Reason for reversal | Way of recovery | Basis and rationality of determining the original withdrawal proportion of bad debt provision |
| N/A |
N/A
(4) Accounts Receivable with Actual Verification during the Reporting Period
Unit: RMB
| Item | Amount verified |
| Accounts receivable with actual verification | 0.00 |
Of which the verification of significant accounts receivable:
Unit: RMB
| Subsidiary | Nature | Amount verified | Reason for verification | Verification procedures performed | Whether generated from connected transactions |
| N/A |
Notes to verification of accounts receivable:
N/A
(5) Top Five Accounts Receivable and Contract Assets in Ending Balance Collected according to the ArrearsParty
Unit: RMB
| Subsidiary | Ending balance of accounts receivable | Ending balance of contract assets | Ending balance of accounts receivable and contract assets | Proportion to total ending balance of accounts receivable and contract assets | Ending balance of bad debt provision of accounts receivable and impairment provision for |
| contract assets | |||||
| Customer 1 | 1,303,003,105.00 | 0.00 | 1,303,003,105.00 | 38.71% | 0.00 |
| Customer 2 | 517,678,449.00 | 0.00 | 517,678,449.00 | 15.38% | 0.00 |
| Customer 3 | 413,794,906.00 | 0.00 | 413,794,906.00 | 12.29% | 0.00 |
| Customer 4 | 354,010,113.00 | 0.00 | 354,010,113.00 | 10.52% | 0.00 |
| Customer 5 | 351,330,516.00 | 0.00 | 351,330,516.00 | 10.44% | 0.00 |
| Total | 2,939,817,089.00 | 0.00 | 2,939,817,089.00 | 87.34% | 0.00 |
2. Other Receivables
Unit: RMB
| Item | Ending balance | Beginning balance |
| Interest receivable | 0.00 | 0.00 |
| Dividends receivable | 1,170,485,442.00 | 1,189,273,456.00 |
| Other receivables | 27,453,355,522.00 | 27,192,355,082.00 |
| Total | 28,623,840,964.00 | 28,381,628,538.00 |
(1) Interest Receivable
1) Category of Interest Receivable
Unit: RMB
| Item | Ending balance | Beginning balance |
| Fixed time deposit | 0.00 | 0.00 |
| Entrusted loans | 0.00 | 0.00 |
| Bond investment | 0.00 | 0.00 |
| Total | 0.00 | 0.00 |
2) Significant Overdue Interest
Unit: RMB
| Borrower | Ending balance | Overdue time | Reason | Whether occurred impairment and its judgment basis |
| N/A |
Other notes:
N/A
3) Disclosure by Withdrawal Methods for Bad Debts
□Applicable ?Not applicable
4) Bad Debt Provision Withdrawal, Reversed or Recovered in the Current Period
Unit: RMB
| Category | Beginning balance | Changes in the Reporting Period | Ending balance | |||
| Withdrawal | Reversal or recovery | Charged-off/Written-off | Other changes | |||
| N/A | ||||||
Of which bad debt provision reversed or recovered with significant amount:
Unit: RMB
| Subsidiary | Amount reversed or recovered | Reason for reversal | Way of recovery | Basis and rationality of determining the original withdrawal proportion of bad debt provision |
| N/A |
Other notes:
N/A
5) Interest Receivable with Actual Verification during the Reporting Period
Unit: RMB
| Item | Amount verified |
| Interest receivable with actual verification | 0.00 |
Of which the verification of significant interest receivable:
Unit: RMB
| Subsidiary | Nature | Amount verified | Reason for verification | Verification procedures performed | Whether generated from connected transactions |
| N/A |
Notes to verification:
N/AOther notes:
N/A
(2) Dividends Receivable
1) Category of Dividends Receivable
Unit: RMB
| Item (or investee) | Ending balance | Beginning balance |
| Hefei BOE Optoelectronics Technology Co., Ltd. | 300,000,000.00 | 0.00 |
| Beijing BOE Matsushita Color CRT Co., Ltd. | 468,758,202.00 | 468,758,202.00 |
| Hefei Xinsheng Optoelectronics Technology Co., Ltd. | 349,910,256.00 | 0.00 |
| Chongqing BOE Optoelectronics Technology Co., Ltd. | 0.00 | 135,000,000.00 |
| Beijing BOE Land Co., Ltd. | 0.00 | 40,147,354.00 |
| BOE Optoelectronics Holdings Co., Ltd | 0.00 | 545,367,900.00 |
| Honor Device Co., Ltd. | 51,816,984.00 | 0.00 |
| Total | 1,170,485,442.00 | 1,189,273,456.00 |
2) Significant Dividend Receivable Aging Over One Year
Unit: RMB
| Item (or investee) | Ending balance | Ageing | Unrecovered reason | Whether occurred impairment and its judgment basis |
| N/A |
3) Disclosure by Withdrawal Methods for Bad Debts
□Applicable ?Not applicable
4) Bad Debt Provision Withdrawal, Reversed or Recovered in the Current Period
Unit: RMB
| Category | Beginning balance | Changes in the Reporting Period | Ending balance | |||
| Withdrawal | Reversal or recovery | Charged-off/Written-off | Other changes | |||
| N/A | ||||||
Of which bad debt provision reversed or recovered with significant amount:
Unit: RMB
| Subsidiary | Amount reversed or recovered | Reason for reversal | Way of recovery | Basis and rationality of determining the original withdrawal proportion of bad debt provision |
| N/A |
Other notes:
N/A
5) Dividends Receivable with Actual Verification during the Reporting Period
Unit: RMB
| Item | Amount verified |
| Dividend receivable with actual verification | 0.00 |
Of which the verification of significant dividends receivable:
Unit: RMB
| Subsidiary | Nature | Amount verified | Reason for verification | Verification procedures performed | Whether generated from connected transactions |
| N/A |
Notes to verification:
N/AOther notes:
N/A
(3) Other Accounts Receivable
1) Other Account Receivable Classified by Account Nature
Unit: RMB
| Nature | Ending carrying balance | Beginning carrying balance |
| Transaction amount | 27,230,757,608.00 | 26,989,987,234.00 |
| Others | 238,735,833.00 | 218,505,767.00 |
| Total | 27,469,493,441.00 | 27,208,493,001.00 |
2) Disclosure by Aging
Unit: RMB
| Ageing | Ending carrying balance | Beginning carrying balance |
| Within one year (including one year) | 27,149,804,629.00 | 26,906,173,796.00 |
| One to two years | 66,173,973.00 | 136,005,824.00 |
| 2Two to three years | 125,343,584.00 | 68,122,231.00 |
| Over three years | 128,171,255.00 | 98,191,150.00 |
| Three to four years | 60,137,045.00 | 25,001,589.00 |
| Four to five years | 14,013,631.00 | 45,646,027.00 |
| Over five years | 54,020,579.00 | 27,543,534.00 |
| Total | 27,469,493,441.00 | 27,208,493,001.00 |
3) Disclosure by Withdrawal Methods for Bad Debts
Unit: RMB
| Category | Ending balance | Beginning balance | ||||||||
| Carrying amount | Provision for impairment | Carrying value | Carrying amount | Provision for impairment | Carrying value | |||||
| Amount | Proportion | Amount | Withdrawal proportion | Amount | Proportion | Amount | Withdrawal proportion | |||
| Bad debt provision separately accrued | 27,469,493,441.00 | 100.00% | 16,137,919.00 | 0.06% | 27,453,355,522.00 | 27,208,493,001.00 | 100.00% | 16,137,919.00 | 0.06% | 27,192,355,082.00 |
| Of which: | ||||||||||
| Funds with high credit risk | 16,137,919.00 | 0.06% | 16,137,919.00 | 100.00% | 0.00 | 16,137,919.00 | 0.06% | 16,137,919.00 | 100.00% | 0.00 |
| Funds with low credit risk | 27,453,355,522.00 | 99.94% | 0.00 | 0.00% | 27,453,355,522.00 | 27,192,355,082.00 | 99.94% | 0.00 | 0.00% | 27,192,355,082.00 |
| Withdrawal of bad debt provision by group | 0.00 | 0.00% | 0.00 | 0.00% | 0.00 | 0.00 | 0.00% | 0.00 | 0.00% | 0.00 |
| Of which: | ||||||||||
| Funds with moderate credit risk | 0.00 | 0.00% | 0.00 | 0.00% | 0.00 | 0.00 | 0.00% | 0.00 | 0.00% | 0.00 |
| Total | 27,469,493,441.00 | 100.00% | 16,137,919.00 | 0.06% | 27,453,355,522.00 | 27,208,493,001.00 | 100.00% | 16,137,919.00 | 0.06% | 27,192,355,082.00 |
Category name of bad debt provision accrued separately: Funds with high credit risk and Funds with low credit risk
Unit: RMB
| Name | Beginning balance | Ending balance | ||||
| Carrying amount | Provision for impairment | Carrying amount | Provision for impairment | Withdrawal proportion | Reason for withdrawal | |
| Funds with high credit risk | 16,137,919.00 | 16,137,919.00 | 16,137,919.00 | 16,137,919.00 | 100.00% | N/A |
| Funds with low credit risk | 27,192,355,082.00 | 0.00 | 27,453,355,522.00 | 0.00 | 0.00% | N/A |
| Total | 27,208,493,001.00 | 16,137,919.00 | 27,469,493,441.00 | 16,137,919.00 | ||
Withdrawal of bad debt provision by adopting the general mode of expected credit loss:
Unit: RMB
| Provision for impairment | Phase I | Phase II | Phase III | Total |
| Expected credit loss in the next 12 months | Expected credit losses for the whole existence period (no credit impairment) | Expected credit losses for the whole existence period (with credit impairment) | ||
| Balance of 1 January 2024 | 0.00 | 0.00 | 16,137,919.00 | 16,137,919.00 |
| Balance of 1 January 2024 in the Current Period | ||||
| - Transfer to Phase II | 0.00 | 0.00 | 0.00 | 0.00 |
| - Transfer to Phase III | 0.00 | 0.00 | 0.00 | 0.00 |
| - Reverse to Phase II | 0.00 | 0.00 | 0.00 | 0.00 |
| - Reverse to Phase I | 0.00 | 0.00 | 0.00 | 0.00 |
| Withdrawal of the current period | 0.00 | 0.00 | 0.00 | 0.00 |
| Reversal of the current period | 0.00 | 0.00 | 0.00 | 0.00 |
| Amount charged-off for the current period | 0.00 | 0.00 | 0.00 | 0.00 |
| Amount written-off for the current period | 0.00 | 0.00 | 0.00 | 0.00 |
| Other changes | 0.00 | 0.00 | 0.00 | 0.00 |
| Balance of 30 June 2024 | 0.00 | 0.00 | 16,137,919.00 | 16,137,919.00 |
The basis for the division of each phase and the withdrawal proportion of bad debt provision
| Item | Phase I | Phase II | Phase III |
| Phase characteristics | Credit risk has not increased significantly since initial recognition | Credit risk has increased significantly since initial recognition but credit impairment has not yet occurred | Credit impairment has occurred after initial recognition |
| Loss provisions | Expected credit loss in the next 12 months | Expected credit loss for the whole existence period | Expected credit loss for the whole existence period |
Changes of carrying amount with significant amount changed of loss provision in the current period
□Applicable ?Not applicable
4) Bad Debt Provision Withdrawn, Reversed or Recovered in the Reporting Period
Information of bad debt provision withdrawn:
Unit: RMB
| Category | Beginning balance | Changes in the Reporting Period | Ending balance | |||
| Withdrawal | Reversal or recovery | Charged-off/Written-off | Others | |||
| Funds with high credit risk | 16,137,919.00 | 0.00 | 0.00 | 0.00 | 0.00 | 16,137,919.00 |
| Total | 16,137,919.00 | 0.00 | 0.00 | 0.00 | 0.00 | 16,137,919.00 |
N/AOf which the bad debt provision reversed or recovered with significant amount during the Reporting Period:
Unit: RMB
| Subsidiary | Amount reversed or recovered | Reason for reversal | Way of recovery | Basis and rationality of determining the original withdrawal proportion of bad debt provision |
| N/A |
N/A
5) Other Accounts Receivable with Actual Verification during the Reporting Period
Unit: RMB
| Item | Amount verified |
| N/A |
Of which the verification of significant other accounts receivable:
Unit: RMB
| Subsidiary | Nature | Amount verified | Reason for verification | Verification procedures performed | Whether generated from connected transactions |
| N/A |
Notes to the verification of other accounts receivable:
N/A
6) Top Five Other Accounts Receivable in Ending Balance Collected According to the Arrears Party
Unit: RMB
| Subsidiary | Nature | Ending balance | Ageing | Proportion to total ending balance of other receivables (%) | Ending balance of bad debt provision |
| Customer 1 | Transaction amount | 7,448,663,849.00 | Within one year (including one year), two to three years, three to four years, and four to five years | 27.12% | 0.00 |
| Customer 2 | Transaction amount | 6,273,089,242.00 | Within one year (including one year), two to three years, three to four years, and four to five years | 22.84% | 0.00 |
| Customer 3 | Transaction amount | 3,634,079,925.00 | Within one year (including one year) | 13.23% | 0.00 |
| Customer 4 | Transaction amount | 2,780,328,075.00 | Within one year (including one year) and four to five years | 10.12% | 0.00 |
| Customer 5 | Transaction amount | 2,629,462,810.00 | Within one year (including one year), three to four years, and over five years | 9.57% | 0.00 |
| Total | 22,765,623,901.00 | 82.88% | 0.00 |
7) Presentation in Other Receivables Due to the Centralized Management of Fund
Unit: RMB
| Amounts presented in other receivables due to the centralized management of funds | 0.00 |
| Explanation | N/A |
Other notes: N/A
3. Long-term Equity Investment
Unit: RMB
| Item | Ending balance | Beginning balance | ||||
| Carrying amount | Impairment provision | Carrying value | Carrying amount | Impairment provision | Carrying value | |
| Investment to subsidiaries | 191,723,575,723.00 | 32,000,000.00 | 191,691,575,723.00 | 187,984,376,186.00 | 32,000,000.00 | 187,952,376,186.00 |
| Investment to joint ventures and associated enterprises | 2,609,919,740.00 | 0.00 | 2,609,919,740.00 | 3,156,825,405.00 | 0.00 | 3,156,825,405.00 |
| Total | 194,333,495,463.00 | 32,000,000.00 | 194,301,495,463.00 | 191,141,201,591.00 | 32,000,000.00 | 191,109,201,591.00 |
(1) Investment to Subsidiaries
Unit: RMB
| Investee | Beginning balance (carrying value) | Beginning balance of impairment provision | Increase/decrease | Ending balance (carrying value) | Ending balance of dimpairment provision | |||
| Additional investment | Reduced investment | Withdrawal of impairment provision | Others | |||||
| Chengdu BOE Optoelectronics Technology Co., Ltd. | 25,132,862,300.00 | 0.00 | 0.00 | 0.00 | 0.00 | 5,989,243.00 | 25,138,851,543.00 | 0.00 |
| Hefei BOE Optoelectronics Technology Co., Ltd. | 2,774,220,036.00 | 0.00 | 0.00 | 0.00 | 0.00 | 3,231,642.00 | 2,777,451,678.00 | 0.00 |
| Beijing BOE Display Technology Co., Ltd. (Beijing BOE Display) | 9,023,454,530.00 | 0.00 | 0.00 | 0.00 | 0.00 | 15,403,776.00 | 9,038,858,306.00 | 0.00 |
| Hefei Xinsheng Optoelectronics | 10,424,839,990.00 | 0.00 | 0.00 | 0.00 | 0.00 | 3,874,110.00 | 10,428,714,100.00 | 0.00 |
| Technology Co., Ltd. | ||||||||
| Ordos Yuansheng Optoelectronics Co., Ltd. | 11,816,424,205.00 | 0.00 | 0.00 | 0.00 | 0.00 | 395,706.00 | 11,816,819,911.00 | 0.00 |
| Chongqing BOE Optoelectronics Technology Co., Ltd. | 4,225,776,398.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1,649,148.00 | 4,227,425,546.00 | 0.00 |
| Hefei BOE Display Technology Co., Ltd. (Hefei BOE Display) | 8,979,853,583.00 | 0.00 | 0.00 | 0.00 | 0.00 | 2,329,590.00 | 8,982,183,173.00 | 0.00 |
| Fuzhou BOE Optoelectronics Technology Co., Ltd. | 15,243,649,837.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1,211,058.00 | 15,244,860,895.00 | 0.00 |
| Mianyang BOE Optoelectronics Technology Co., Ltd. | 22,347,538,961.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1,356,702.00 | 22,348,895,663.00 | 0.00 |
| Chongqing BOE Display Technology Co., Ltd. | 10,017,479,885.00 | 0.00 | 1,299,961,000.00 | 0.00 | 0.00 | 1,055,568.00 | 11,318,496,453.00 | 0.00 |
| Fuzhou BOE Display Technology Co., Ltd. | 23,060,520.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 23,060,520.00 | 0.00 |
| Chengdu BOE Display Technology Co., Ltd. | 399,988,000.00 | 0.00 | 999,970,000.00 | 0.00 | 0.00 | 0.00 | 1,399,958,000.00 | 0.00 |
| Wuhan BOE Optoelectronics Technology Co., Ltd. | 12,530,838,461.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1,232,136.00 | 12,532,070,597.00 | 0.00 |
| Nanjing BOE | 5,602,671,987.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1,176,300.00 | 5,603,848,287.00 | 0.00 |
| Display Technology Co., Ltd. | ||||||||
| Chengdu BOE Display Technology Co., Ltd. | 7,561,638,738.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1,041,576.00 | 7,562,680,314.00 | 0.00 |
| Beijing BOE Chuangyuan Technology Co., Ltd. | 2,249,653,000.00 | 0.00 | 347,000.00 | 0.00 | 0.00 | 1,147,704.00 | 2,251,147,704.00 | 0.00 |
| Yunnan Chuangshijie Optoelectronics Technology Co., Ltd. | 1,521,548,388.00 | 0.00 | 0.00 | 0.00 | 0.00 | 579,324.00 | 1,522,127,712.00 | 0.00 |
| Hefei BOE Zhuoyin Technology Co., Ltd. | 605,598,776.00 | 0.00 | 0.00 | 0.00 | 0.00 | 335,520.00 | 605,934,296.00 | 0.00 |
| Mianyang BOE Electronics Technology Co., Ltd. | 680,000,000.00 | 0.00 | 220,000,000.00 | 0.00 | 0.00 | 0.00 | 900,000,000.00 | 0.00 |
| BOE (Hebei) MOBILE Display Technology Co., Ltd. | 1,356,796,294.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1,356,796,294.00 | 0.00 |
| BOE Hyundai LCD (Beijing) Display Technology Co., Ltd. | 43,836,688.00 | 0.00 | 0.00 | 0.00 | 0.00 | 45,306.00 | 43,881,994.00 | 0.00 |
| Beijing BOE Vision Electronic Technology Co., Ltd. | 4,447,858,263.00 | 0.00 | 510,000,000.00 | 0.00 | 0.00 | 0.00 | 4,957,858,263.00 | 0.00 |
| BOE Optical Science and | 669,553,238.00 | 0.00 | 0.00 | 0.00 | 0.00 | 538,542.00 | 670,091,780.00 | 0.00 |
| Technology Co., Ltd. | ||||||||
| Hefei BOE Xingyu Technology Co., Ltd. | 506,907,751.00 | 0.00 | 0.00 | 0.00 | 0.00 | 122,958.00 | 507,030,709.00 | 0.00 |
| BOE Jingxin Technology Co., Ltd. | 1,464,806,545.00 | 0.00 | 30,000,000.00 | 0.00 | 0.00 | 2,289,588.00 | 1,497,096,133.00 | 0.00 |
| HC Semitek Co., Ltd. | 2,083,597,236.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 2,083,597,236.00 | 0.00 |
| Beijing BOE Sensor Technology Co., Ltd. | 4,537,093,774.00 | 0.00 | 50,000,000.00 | 0.00 | 0.00 | 1,487,094.00 | 4,588,580,868.00 | 0.00 |
| Beijing Shiyan Technology Co., Ltd. | 167,200,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 849,762.00 | 168,049,762.00 | 0.00 |
| BOE Smart Technology Co., Ltd. | 2,722,000,000.00 | 0.00 | 144,444,400.00 | 0.00 | 0.00 | 0.00 | 2,866,444,400.00 | 0.00 |
| BOE Health Investment Management Co., Ltd. | 9,422,994,176.00 | 0.00 | 348,000,000.00 | 0.00 | 0.00 | 419,760.00 | 9,771,413,936.00 | 0.00 |
| Beijing BOE Energy Technology Co., Ltd. | 858,249,916.00 | 0.00 | 0.00 | 0.00 | 0.00 | 417,834.00 | 858,667,750.00 | 0.00 |
| BOE Innovation Investment Co., Ltd. | 3,677,760,342.00 | 0.00 | 99,000,000.00 | 0.00 | 0.00 | 328,560.00 | 3,777,088,902.00 | 0.00 |
| Beijing BOE Matsushita Color CRT Co., Ltd. | 6,146,008.00 | 0.00 | 0.00 | 0.00 | 0.00 | 325,620.00 | 6,471,628.00 | 0.00 |
| Beijing Yinghe Century Co., Ltd. | 358,184,475.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1,331,418.00 | 359,515,893.00 | 0.00 |
| Beijing BOE Land Co., Ltd. | 10,000,162.00 | 0.00 | 0.00 | 0.00 | 0.00 | 118,404.00 | 10,118,566.00 | 0.00 |
| Beijing BOE Vacuum Technology Co., Ltd | 0.00 | 32,000,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 32,000,000.00 |
| Beijing BOE Vacuum Electrical Co., Ltd | 20,126,113.00 | 0.00 | 0.00 | 0.00 | 0.00 | 42,600.00 | 20,168,713.00 | 0.00 |
| BOE Semi-conductor Co., Ltd. | 9,450,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 9,450,000.00 | 0.00 |
| Beijing BOE Marketing Co., Ltd. | 31,885,370.00 | 0.00 | 0.00 | 0.00 | 0.00 | 127,140.00 | 32,012,510.00 | 0.00 |
| BOE (KOREA) Co., Ltd. | 8,993,260.00 | 0.00 | 0.00 | 0.00 | 0.00 | 428,436.00 | 9,421,696.00 | 0.00 |
| BOE Optoelectronics Holdings Co., Ltd | 3,487,684,762.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 3,487,684,762.00 | 0.00 |
| Beijing BOE Multimedia Technology Co., Ltd. | 400,000,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 400,000,000.00 | 0.00 |
| BOE Environmental and Energy Technology Co., Ltd. | 51,886,158.00 | 0.00 | 0.00 | 0.00 | 0.00 | 151,272.00 | 52,037,430.00 | 0.00 |
| Beijing Zhongxiangying Technology Co., Ltd. | 102,490,962.00 | 0.00 | 0.00 | 0.00 | 0.00 | 124,812.00 | 102,615,774.00 | 0.00 |
| Beijing BOE Life Technology Co., Ltd. | 10,000,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 10,000,000.00 | 0.00 |
| Beijing BOE Technology Development Co., Ltd. | 2,955,574.00 | 0.00 | 0.00 | 0.00 | 0.00 | 100,308.00 | 3,055,882.00 | 0.00 |
| BOE Education Technology Co., Ltd. | 29,259,274.00 | 0.00 | 0.00 | -25,000,000.00 | 0.00 | -4,259,274.00 | 0.00 | 0.00 |
| Dongfang Chengqi (Beijing) Business Technology Co., Ltd. | 15,927,168.00 | 0.00 | 0.00 | 0.00 | 0.00 | 486,000.00 | 16,413,168.00 | 0.00 |
| Others* | 287,635,082.00 | 0.00 | 0.00 | 0.00 | 0.00 | 14,991,894.00 | 302,626,976.00 | 0.00 |
| Total | 187,952,376,186.00 | 32,000,000.00 | 3,701,722,400.00 | -25,000,000.00 | 0.00 | 62,477,137.00 | 191,691,575,723.00 | 32,000,000.00 |
(2) Investment to Joint Ventures and Associated Enterprises
Unit: RMB
| Investee | Beginning balance (carrying value) | Beginning balance of impairment provision | Increase/decrease | Ending balance (carrying value) | Ending balance of dimpairment provision | |||||||
| Additional investment | Reduced investment | Profit and loss on investments confirmed according to equity law | Adjustment of other comprehensive income | Other equity movements | Declared distribution of cash dividends or profits | Withdrawal of impairment provision | Others | |||||
| I. Joint Ventures | ||||||||||||
| N/A | ||||||||||||
| II. Associated Enterprises | ||||||||||||
| Beijing Nissin Electronic Precision Components Co., Ltd. | 3,221,178.00 | 0.00 | 0.00 | 0.00 | 569,550.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 3,790,728.00 | 0.00 |
| Beijing Nittan Electronic Co., Ltd. | 74,829,491.00 | 0.00 | 0.00 | 0.00 | -630,944.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 74,198,547.00 | 0.00 |
| Erdos BOE Energy Investment Co., Ltd. | 135,928,979.00 | 0.00 | 0.00 | 0.00 | -139,762.00 | 0.00 | 170,648.00 | 0.00 | 0.00 | 0.00 | 135,959,865.00 | 0.00 |
| TPV Display Technology (China) Co., Ltd. | 32,051,628.00 | 0.00 | 0.00 | 0.00 | 617,050.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 32,668,678.00 | 0.00 |
| Beijing Xindongneng Investment Fund (Limited Partnership) | 1,864,768,203.00 | 0.00 | 0.00 | 0.00 | -241,520,924.00 | -23,632,920.00 | 0.00 | -328,908,672.00 | 0.00 | 0.00 | 1,270,705,687.00 | 0.00 |
| Beijing Xindongneng Investment Management Co., Ltd. | 16,217,385.00 | 0.00 | 0.00 | 0.00 | 3,077,385.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 19,294,770.00 | 0.00 |
| Beijing Xloong Technologies Co., Ltd. | 20,502,397.00 | 0.00 | 0.00 | 0.00 | -457,971.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 20,044,426.00 | 0.00 |
| Beijing Chuangxin Industrial Investment Co., Ltd. | 236,170,218.00 | 0.00 | 0.00 | 0.00 | 14,976,232.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 251,146,450.00 | 0.00 |
| BEHC Industrial Investment Co., Ltd. | 385,752,159.00 | 0.00 | 27,901,400.00 | 0.00 | 253,406.00 | -7,197,883.00 | 0.00 | 0.00 | 0.00 | 0.00 | 406,709,082.00 | 0.00 |
| BOE Art Cloud Technology Co., Ltd. | 361,025,063.00 | 0.00 | 0.00 | 0.00 | 2,574,417.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 363,599,480.00 | 0.00 |
| Guoke BOE (Shanghai) Equity Investment Management Co., Ltd. | 3,519,212.00 | 0.00 | 0.00 | 0.00 | 634,771.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 4,153,983.00 | 0.00 |
| Beijing Digital TV | 3,347,805.00 | 0.00 | 0.00 | 0.00 | -164,969.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 3,182,836.00 | 0.00 |
| National Engineering Laboratory Co., Ltd. | ||||||||||||
| Beijing Electronic Digital Intelligence Technology Co., Ltd. | 19,491,687.00 | 0.00 | 9,450,000.00 | 0.00 | -4,476,479.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 24,465,208.00 | 0.00 |
| Sub-total | 3,156,825,405.00 | 0.00 | 37,351,400.00 | 0.00 | -224,688,238.00 | -30,830,803.00 | 170,648.00 | -328,908,672.00 | 0.00 | 0.00 | 2,609,919,740.00 | 0.00 |
| Total | 3,156,825,405.00 | 0.00 | 37,351,400.00 | 0.00 | -224,688,238.00 | -30,830,803.00 | 170,648.00 | -328,908,672.00 | 0.00 | 0.00 | 2,609,919,740.00 | 0.00 |
The recoverable amount is determined based on the net amount of the fair value minus disposal costs
□Applicable ?Not applicable
The recoverable amount is determined by the present value of the expected future cash flow
□Applicable ?Not applicable
The reason for the discrepancy between the foregoing information and the information used in the impairment tests in prior years or external informationN/AThe reason for the discrepancy between the information used in the Company’s impairment tests in prior years and the actual situation of those yearsN/A
(3) Other Notes
N/A
4. Operating Revenue and Cost of Sales
Unit: RMB
| Item | Reporting Period | Same period of last year | ||
| Income | Cost | Income | Cost | |
| Principal activities | 1,873,740,107.00 | 4,858,228.00 | 1,659,293,001.00 | 4,572,011.00 |
| Other operating activities | 3,023,314.00 | 31,184.00 | 7,058,286.00 | 86,600.00 |
| Total | 1,876,763,421.00 | 4,889,412.00 | 1,666,351,287.00 | 4,658,611.00 |
Breakdown information of operating revenue and cost of sales:
Unit: RMB
| By operating segment | Reporting Period | Same period of last year |
| Mainland China | 1,876,179,096.00 | 1,660,814,367.00 |
| Other regions in Asia | 584,325.00 | 5,536,920.00 |
| Total | 1,876,763,421.00 | 1,666,351,287.00 |
Information related to performance obligations:
| Item | Timing of fulfilment of performance obligations | Important payment terms | Nature of goods that the Company is committed to transfer | Whether or not the person primarily responsible | Funds undertaken by the Company expected to be returned to customers | Type of quality assurance provided by the Company and related obligations |
| N/A |
Other notes:
Generally, the Group assumes the performance obligations of merchandise sales and services for customers. For merchandise sales, ifterms of sales returns are offered, the limit of income recognition is that cumulated recognised income most likely will not havesignificant returns. In terms of performance obligations to be performed within a certain period of time, income is recognised accordingto the performance progress. Quality assurance provided by customers generally is guaranteed quality assurance. Such guaranteedquality assurance will not be regarded as a single performance obligation.Information related to transaction value assigned to residual performance obligations:
zero year, RMB0.00 in zero year and RMB0.00 in zero year.Significant contract changes or significant transaction price adjustments
Unit: RMB
| Item | Accounting treatment | Amount of impact on revenue |
| N/A |
Other notes:
N/A
5. Investment Income
Unit: RMB
| Item | Reporting Period | Same period of last year |
| Income from long-term equity investments accounted for using cost method | 1,040,756,757.00 | 699,897,436.00 |
| Income from long-term equity investments accounted for using equity method | -224,688,237.00 | 588,103,242.00 |
| Investment income from disposal of long-term equity investments | -6,486,678.00 | 1,581,850.00 |
| Investment income arising from holding of trading financial assets | 51,816,984.00 | 3,990,185.00 |
| Investment income from disposal of financial assets held for trading | 0.00 | 0.00 |
| Dividend income received from holding of other equity instrument investment | 0.00 | 728,606.00 |
| Gain from remeasurement of remaining equity interests to fair value upon the loss of control | 0.00 | 0.00 |
| Interest income of investment in debt obligations during holding period | 0.00 | 0.00 |
| Interest income of investment in other debt obligations during holding period | 0.00 | 0.00 |
| Investment income from disposal of investment in other debt obligations | 0.00 | 0.00 |
| Others | 0.00 | 0.00 |
| Total | 861,398,826.00 | 1,294,301,319.00 |
XIX. Supplementary Materials
1. Items and Amounts of Non-recurring Profit or Loss
?Applicable □ Not applicable
Unit: RMB
| Item | Amount | Note |
| Gains/losses on the disposal of non-current assets | 38,121,550.00 | N/A |
| Government grants recognized in the current period (except for government grants closely related to the Company’s normal operating business, in compliance with national policies and in accordance with defined criteria, and having a continuous impact on the Company’s profit or loss) | 767,564,807.00 | N/A |
| Gains or losses arising from changes in fair value of financial assets and financial liabilities held by non-financial enterprises and gains or losses arising from the disposal of financial assets and financial liabilities, other than effective hedging business related to the Company’s normal operating business | -33,613,871.00 | N/A |
| Capital occupation charges on non-financial enterprises that are recorded into current profit or loss | 0.00 | N/A |
| Gain or loss on assets entrusted to other entities for investment or management | 0.00 | N/A |
| Gain or loss on loan entrustments | 0.00 | N/A |
| Asset losses due to acts of God such as natural disasters | 0.00 | N/A |
| Reversed portions of impairment allowances for accounts receivable which are tested individually for impairment | 3,096,389.00 | N/A |
| Gain 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 net assets of investees when making investments | 0.00 | N/A |
| Net profit or loss for the period from the beginning of the period to the date of consolidation of a subsidiary arising from a business combination under common control | 0.00 | N/A |
| Gain or loss on non-monetary asset swaps | 0.00 | N/A |
| Gain or loss on debt restructuring | 0.00 | N/A |
| One-time costs incurred by the enterprise due to the fact that the relevant business activities are no longer continuing, such as expenses for staff arrangements | 0.00 | N/A |
| One-time effect on current profit or loss due to adjustments in taxation, accounting and other laws and regulations | 0.00 | N/A |
| One-time share-based payment expense recognised for cancellation and modification of equity incentive plans | 0.00 | N/A |
| For cash-settled share-based payments, gain or loss arising from changes in the fair value of employee compensation payable after the date of exercise of options | 0.00 | N/A |
| Gain or loss on fair-value changes in investment property of which subsequent | 0.00 | N/A |
| measurement is carried out using the fair value method | ||
| Income from transaction at obviously unfair trade prices | 0.00 | N/A |
| Gain or loss on contingencies that do not arise in the Company’s ordinary course of business | 0.00 | N/A |
| Custodian fees earned from entrusted operation | 0.00 | N/A |
| Other non-operating income and expenses besides items above | 69,490,439.00 | N/A |
| Other items qualified as extraordinary gain and loss | 0.00 | N/A |
| Less: Income tax effects | 4,204,537.00 | N/A |
| Non-controlling interests effects (after tax) | 169,806,804.00 | N/A |
| Total | 670,647,973.00 | -- |
Others that meet the definition of non-recurring gain/loss:
□Applicable ?Not applicable
No such cases in the Reporting Period.Explain the reasons if the Company classifies any extraordinary gain/loss item mentioned in the Explanatory Announcement No. 1 onInformation Disclosure for Companies Offering Their Securities to the Public—Non-recurring Gains and Losses as a recurrent gain/lossitem
□Applicable ?Not applicable
2. Return on Equity and Earnings Per Share
| Profit as of Reporting Period | Weighted average return on net assets | EPS (Yuan/share) | |
| Basic earnings per share (RMB/share) | Diluted earnings per share (RMB/share) | ||
| Net profit attributable to the Company’s ordinary equity shareholders | 1.75% | 0.06 | 0.06 |
| Net profit excluding extraordinary gain and loss attributable to the Company’s ordinary equity shareholders | 1.22% | 0.04 | 0.04 |