INTERIM REPORT 2021
August 2021
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. Liu Xiaodong, President, Ms.Sun Yun, Chief Financial Officer, and Ms. Yang Xiaoping, head of the financial department(equivalent to financial manager) hereby guarantee that the Financial Statements carried inthis Report are factual, accurate and complete.All the directors of the Company attended in person the Board meeting for the review of thisReport and its summary.The Company has no interim dividend plan, either in the form of cash or stock.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 ofthe Company 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.This Report has been prepared as per the Chinese Accounting Standards for BusinessEnterprises and other relevant regulations.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 versionsshall prevail.
Table of Contents
Part I Important Notes, Table of Contents and Definitions ...... 2
Part II Corporate Information and Key Financial Information ...... 6
Part III Management Discussion and Analysis ...... 10
Part IV Corporate Governance ...... 26
Part V Environmental and Social Responsibility ...... 28
Part VI Significant Events ...... 33
Part VII Share Changes and Shareholder Information ...... 53
Part VIII Preferred Shares ...... 63
Part IX Bonds ...... 64
Part X Financial Statements ...... 68
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: 27
August 2021
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 |
| Microdisplay | Microdisplay technology |
| LCD | Liquid Crystal Display |
| AMOLED | Active-matrix Organic Light Emitting Diode |
| OLED | Organic Light Emitting Diode |
| Mini-LED | Submillimeter Light Emitting Diode |
| P0.9 | Point 0.9mm |
| AM | Active matrix |
| Micro-LED | Micro Light Emitting Diode |
| VR/AR | Virtual Reality /Augmented Reality |
| TFT-LCD | Thin Film Transistor Liquid Crystal Display |
| 3C | Computer, communication and consumer electronics |
| SID | The Society for Information Display |
| IEC | International Electrotechnical Commission |
| DIC | Display Innovation China Expo |
| DIC AWARD | Display Innovation China Award |
Part II Corporate Information and Key Financial InformationI 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 | Su Xuefei |
| Address | 12 Xihuan Middle Road, Beijing Economic-Technological Development Area, P.R.China | 12 Xihuan Middle Road, Beijing Economic-Technological Development Area, P.R.China |
| Tel. | 010－64318888 ext. | 010－64318888 ext. |
| Fax | 010－64366264 | 010－64366264 |
| Email address | liuhongfeng@boe.com.cn | suxuefei@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 andemail address 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 2020 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’s
periodic reports in the Reporting Period.
□ Applicable √ Not applicable
The newspapers designated by the Company for information disclosure, the website designated by the CSRC for disclosing theCompany’s periodic reports and the place for keeping such reports did not change in the Reporting Period. The said information canbe found in the 2020 Annual Report.IV Key Financial Information
Indicate by tick mark whether there is any retrospectively restated datum in the table below.
√ Yes □ No
Reason for retrospective restatement:
Other reason.
| Item | H1 2021 | H1 2020 | Change (%) | |
| Before | Restated | Restated | ||
| Operating revenue (RMB) | 107,285,327,026.00 | 60,867,073,506.00 | 56,751,329,065.00 | 89.04% |
| Net profit attributable to the listed company’s shareholders (RMB) | 12,762,024,968.00 | 1,135,450,325.00 | 1,135,450,325.00 | 1,023.96% |
| Net profit attributable to the listed company’s shareholders before exceptional gains and losses (RMB) | 11,661,616,772.00 | -176,328,585.00 | -176,328,585.00 | — |
| Net cash generated from/used in operating activities (RMB) | 32,745,188,339.00 | 9,716,675,534.00 | 9,716,675,534.00 | 237.00% |
| Basic earnings per share (RMB/share) | 0.363 | 0.026 | 0.026 | 1,296.15% |
| Diluted earnings per share (RMB/share) | 0.363 | 0.026 | 0.026 | 1,296.15% |
| Weighted average return on equity (%) | 13.40% | 1.05% | 1.05% | 12.35% |
| Item | 30 June 2021 | 31 December 2020 | Change (%) | |
| Before | Restated | Restated | ||
| Total assets (RMB) | 435,476,169,633.00 | 424,256,806,331.00 | 424,256,806,331.00 | 2.64% |
| Equity attributable to the listed company’s shareholders (RMB) | 111,945,985,236.00 | 103,276,766,835.00 | 103,276,766,835.00 | 8.39% |
Quarterly operating revenue was restated according to the audited data, which had no impact on other financial indicators.
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) | 147,769,658.00 | N/A |
| Tax rebates, reductions and exemptions given with ultra vires approval or in lack of official approval documents | 0.00 | N/A |
| Government subsidies charged to current profit or loss (exclusive of government subsidies given in the Company’s ordinary course of business at fixed quotas or amounts as per the government’s uniform standards) | 1,125,750,664.00 | N/A |
| Capital occupation charges on non-financial enterprises that are charged to current profit or loss | 0.00 | 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 |
| Gain or loss on non-monetary asset swaps | 0.00 | N/A |
| Gain or loss on assets entrusted to other entities for investment or management | 0.00 | N/A |
| Allowance for asset impairments due to acts of God such as natural disasters | 0.00 | N/A |
| Gain or loss on debt restructuring | 0.00 | N/A |
| Restructuring costs in staff arrangement, integration, etc. | 0.00 | N/A |
| Gain or loss on the over-fair value amount as a result of transactions with distinctly unfair prices | 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 contingencies that do not arise in the Company’s ordinary course of business | 0.00 | N/A |
| Gain or loss on fair-value changes in held-for-trading and derivative financial assets and liabilities | 46,230,279.00 | N/A |
| & income from disposal of held-for-trading and derivative financial assets and liabilities and other investments in debt obligations (exclusive of the effective portion of hedges that arise in the Company’s ordinary course of business) | ||
| Reversed portions of impairment allowances for accounts receivable and contract assets which are tested individually for impairment | 12,706,456.00 | N/A |
| Gain or loss on loan entrustments | 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 |
| Effects of all adjustments required by taxation, accounting and other applicable laws and regulations on current profit or loss | 0.00 | N/A |
| Income from charges on entrusted management | 0.00 | N/A |
| Non-operating income and expense other than the above | 28,677,012.00 | N/A |
| Other gains and losses that meet the definition of exceptional gain/loss | 0.00 | N/A |
| Less: Income tax effects | 124,486,027.00 | N/A |
| Non-controlling interests effects (net of tax) | 136,239,846.00 | N/A |
| Total | 1,100,408,196.00 | -- |
Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item defined or listed in the ExplanatoryAnnouncement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Gain/LossItems:
□ Applicable √ Not applicable
No such cases for the Reporting Period.
Part III Management Discussion and AnalysisI Principal Activity of the Company in the Reporting Period(I) Principal OperationsFounded in April 1993, BOE Technology Group Co., Ltd. is an IoT company that provides smart ports and professional services forinformation interaction and human health. After years of development, the Group has become a global leader in the semiconductordisplay sector. The Company has established a "1+4+N" BG structure with display business as the core, which integrates MLEDbusiness, Sensor and Solution business, Intelligence System and Innovation business, Smart Medical Engineering business andextends to IoT scenarios and market segments such as Intelligent Car Networking, Smart Retail, Smart Finance, Smart Medicine andEngineering, Industrial IoT, Smart Park, and Digital Art. The Company has established an industrial fund to build a safe, healthy andcompetitive ecological chain finance and innovation investment platform. The Company has set up the Smart System InnovationCenter to facilitate cooperation between business groups and strategic partners to jointly create products and value for win-winoutcomes. For the first half of 2021, the Company recorded operating revenue of approximately RMB107.285 billion, up around
89.04% year-on-year; and a net profit attributable to the listed company’s shareholders of RMB12.762 billion, up 1,023.96%year-on-year.The specifics are as follows:
1. Display business
Display business offers TFT-LCD, AMOLED, Microdisplay and other intelligent interface devices designed and manufactured in anintegrated way, to create an integrated platform of semiconductor display panels, modules, whole products and services. Displaybusiness provides customers with high-quality display devices such as smartphones, tablet PCs, laptops, monitors, TVs,vehicle-mounted, electronic shelf label (ESL), tiled display screens, industrial control, wearable devices, VR/AR devices, electronictags, white goods, healthcare, mobile payment, and interactive whiteboards, as well as the most competitive intelligent services in 3Cdisplay, smart IoT, system platform, and other fields.
2. Sensor and Solution business
Sensor and Solution business offers B2B customers integrated design and manufacturing services of sensor devices for use inmedical detection, household detection, communication & transportation, smart homes, etc., as well as sensor system solutionsregarding medical imaging, biological detection, smart screens, microwave communication, fingerprint identification and the like,with products including flat panel X-ray detectors (FPXD), digital microfluidic chips, PDLC glass, fingerprint identification systems,etc.
3. MLED business
MLED business renders Mini-LED backlight products with high reliability and high partition of dimming for LCD of mobile phones,tablet PCs, laptops, monitors, TVs, vehicles, wearable devices, etc., as well as Mini/Micro-LED display products with high brightness,high reliability and high contrast for segment markets of outdoor, commercial, transparent, specialized and other displays. All theseproducts are designed and manufactured in an integrated manner.
4. Intelligence System and Innovation business
Intelligence System and Innovation business offers overall system solutions under integrated design and backed by AI and big data,such as smart finance, smart industrial parks, smart governments, smart office, smart transportation, city light space, smart energyand other IoT solutions, for products and services combining hardware and software.
5. Smart Medical Engineering business
Smart Medical Engineering business adopts the professional healthcare service model to combine technologies with medicine andintegrate medicine and engineering with innovation, so as to provide families, communities and hospitals with the four core servicesof health management, health technology, digital hospital, and technology services. The health IoT platform connects testingequipment, medical workers and customers to build a smart health management ecosystem where customers enjoy health servicesincluding prevention, treatment, therapy and nursing.(II) Industry developmentIn the first half of the year, the semiconductor industry continued to improve, the industrial consolidation accelerated, resources werefurther concentrated to leading enterprises. The COVID-19 has reshaped the way people live and work. Demand for applicationssuch as telecommuting, telemedicine, online education and online entertainment continues to grow. The continuous innovation ofLCD technology and the rapid development of new display technologies such as OLED and small spacing LED have boosted thedemand for new applications. Meanwhile, thanks to the continuous progress of 5G, AI, big data and other technologies, variousindustries are undergoing digital transformation at a faster speed, which has brought great opportunities for the Company's IoTtransformation and development.(III) Market position
1. Display business
Sales of display devices increased 18% year on year, and sales area increased 45% year on year. The market share of LCDsmartphones, tablet PCs, laptops, monitors and TVs continued to rank first in the world. The sales area of innovative applicationdevices increased by 66% year on year. The market share of electronic paper display devices continued to maintain above 60%. 3Cproduct sales increased by 38% year on year.
2. Sensor and Solution business
The sales of medical imaging in sensing business increased by 51% year on year, and the Company has made mass production andshipped to global high-end medical device companies in Europe, the United States, Japan and South Korea. Smart screens have beenapplied in subways in Beijing, Shenzhen, Qingdao and other places.
3. MLED business
MLED business saw rapid development, and the overall sales of the market share increased significantly. The world's first backlit75-inch four-piece product of chip-on-glass was successfully mass-produced and delivered. Relying on chip-on-glass display processand micron-level packaging process, the Company adopts the active driving mode, and the world's first glass-based active P0.9 directdisplay products have the conditions for mass production.
4. Intelligence System and Innovation business
The smart whole products in smart systems innovation business have four series product lines, and the sales volume increased morethan twice year on year. A comprehensive management platform for smart outlets was built to boost smart finance, which has beencopied, promoted and applied. It has been successfully applied in the collective purchasing projects of ICBC Beijing, BOCOM Anhui,Everbright Head Office and Huaxia Head Office. PSBC Wealth Center, Minsheng Head Office Smart Remote Banking and otherbenchmarking projects have been created. Smart Part built a smart park digital platform and application platform, which has beenapplied in some scenarios in Capital, Boda, Apartment Taupe, CITIC Pacific Plaza and other projects.
5. Smart Medical Engineering business
OASIS Hospital continued to make greater efforts to build market channels, and its outpatients and discharges grew by 86%and 55%respectively year on year. The brand influence of Hefei Hospital was further enhanced, with its outpatients and growing by 131% and123% respectively year on year. Smart medical care solutions of health technology have been implemented in Beijing, Chengdu andother cities. A number of agents have been developed for gastric cancer gene methylation detection products. Regenerative medicinecell storage has increased significantly.(IV) Key performance drivers
1. Market condition
The domestic economy is gradually recovering and sees steady growth. The online economy stimulates the demand for consumerelectronics products. Benefited from the 14th Five-Year Plan, the digital economy has brought opportunities to the IoT scenarios,such as IIOT, smart park and smart finance. The overseas pandemic is still severe, and the "contactless economy" characterized byhome living and telecommuting continues to drive the demand for display panels. The supply of raw materials such as driver IC andchip-on-glass is tight, which affects the panel price to a certain extent.
2. The Company's operating capability
The Company's "1+4+N" BG structure further promoted steadily towards the goal of IoT innovation ecology, and all layers ofbusiness showed a good momentum of coordinated development. Also, the Company enriched product categories and capacityadvantages to provide customers with competitive products and services. The Company established first-launch advantages inmultiple segments, improved the layout of core patents, and promoted innovation-driven development. BOE continued to improveproduction line operation efficiency for lean management, so that its customer quality performance continued to stay ahead.
II Core Competitiveness Analysis
1. Excellent management team
Since the Company implemented the strategy of "conducting overseas acquisitions and taking root in domestic markets" and enteredthe semiconductor display industry at a high starting point, it has developed into a leading enterprise in the industry after more than20 years of concentrated efforts. The Company's management team has solid professional knowledge, rich industry experience,leading management level and keen strategic vision. Thanks to their efforts, the Company continued to grow stronger in thesemiconductor display field, and grasped future development opportunities to firmly promote the Company's IoT transformation, andrendered a lot of achievements. In the context of the complex global political and economic situation, repeated outbreaks and theshortage of upstream resources and materials, the Company's management led the team to overcome difficulties and achievedexcellent results in the overall operation in the first half of the year, creating the best half-year performance in the history of theCompany.
2. Improved technology innovation system
The Company always respects technology and makes constant innovations, maintaining stable resource investment in technologyinnovation. Through short- and medium-term technology R&D mechanism, the Company productizes technology rapidly. On thisbasis, through the full research and judgment of the industry development, the Company actively lays out the forward-lookingtechnology direction and creates a dynamically iterative company-level technology innovation system to ensure that its technicalstrength continues to lead the industry.
3. Abundant patent and technology innovation achievements
BOE continued to apply for and obtain more patents, with more than 4,500 new patent applications in the year. In particular, theinvention patent applications exceeded 90% and overseas patent applications exceeded 33%; patent applications in respect of OLED,sensor, AI, big data and other fields exceeded 50%. New authorized patents amounted to 3,900, including over 1,200 overseaspatents. Besides, the Company led the formulation and revision of 36 external technical standards. The IEC international standardBasic Rating and Characteristics of Flexible Display Devices and the national standard General Requirements for IoT Electronic TagSystem have been approved. The jointly formed group standard Technical Specification for Foldable Displays for Microcomputerwas officially released. The group standard Evaluation Specification for Artificial Intelligence Development Platform, which theCompany participated in, was officially released.New breakthroughs have been made in technology application and innovation, and a number of products have been launched for thefirst time worldwide. BOE's Flexible OLED sliding display won the SID Best Technology Demonstration award. The world's first55-inch 4K AMQLED display prototype of the Company won DIC AWARD International Gold Award for Display Device
Innovation. Cadmium-free quantum dot top emitting device has stayed ahead in the industry in red and green efficiency, and has beenpublished in the international authoritative journal Nano Research. The world's first chip-on-glass active P0.9 direct display productwon two awards: CES 2021 Innovative Display Application of the Year and 2021 SID Best New Display Technology.
4. Leading lean management level and operational efficiency
BOE continuously optimized its operation mechanism, promoted the centralization and scale of products, and further enhanced theefficiency of production lines. Chongqing Gen-8.5 LCD production line continued to miniaturize products and further improve theproduction level. Beijing Gen-8.5 LCD production line, Fuzhou Gen-8.5 LCD production line, Nanjing Gen-8.5 LCD production line,Chengdu Gen-8.6 LCD production line, Hefei Gen-10.5 LCD production line and Wuhan Gen-10.5 LCD production line hit a newhigh by chips in a single month. In particular, since the acquisition of Nanjing Gen-8.5 LCD production line and Chengdu Gen-8.6LCD production line, we have dug deeper into the potential of production lines, grasped market opportunities and successfully turnedlosses into gains. The supply chain overcame the price increase of bulk commodities, and the tight supply of driver IC, polarizer,glass and other upstream materials, repeated outbreaks and other adverse factors to ensure a stable supply of all materials. BeijingLife Technology Industrial Base is in steady progress, and the renovation project of Suzhou Hospital has been basically completed.BOE established the full life cycle with customer delivery value chain as the core, connected value chain with data chain andcontinuously promoted the upgrading to digital operation.
5. Digital transformation
BOE is in the midst of a comprehensive digital transformation, with the top goal of building "a digital, visual BOE". The Companypromoted and implemented a series of digital change key measures to build an end-to-end digital management system of "agileresponse, efficient coordination, and full coverage", so as to stimulate organizational vitality, strengthen IT system support, revitalizedata assets, and realize efficient digital operation. The Company continued to improve management efficiency and businessefficiency. At present, all digital change key projects are progressing in an orderly manner.
III Analysis of Core BusinessesSee contents under the heading “I Principal Activity of the Company in the Reporting Period” above.Year-on-year changes in key financial data:
Unit: RMB
| Item | H1 2021 | H1 2020 | Change (%) | Main reason for change |
| Operating revenue | 107,285,327,026.00 | 56,751,329,065.00 | 89.04% | Promising industry development, rise in prices of major products, release of new capacity, and changes in the consolidation scope |
| Cost of sales | 73,745,889,031.00 | 47,153,846,668.00 | 56.39% | Increase in operating revenue |
| Selling expense | 2,295,502,342.00 | 1,450,825,484.00 | 58.22% | Increase in operating revenue |
| Administrative expense | 4,030,423,338.00 | 2,517,596,650.00 | 60.09% | Increase in operating revenue |
| Finance costs | 1,758,296,231.00 | 1,204,359,858.00 | 45.99% | New project going into operation, and changes in the consolidation scope |
| Income tax expense | 2,260,425,038.00 | 495,807,024.00 | 355.91% | Increase in profit |
| R&D expense | 5,929,786,929.00 | 3,924,151,095.00 | 51.11% | Efforts to strengthen R&D |
| Net cash generated from/used in operating activities | 32,745,188,339.00 | 9,716,675,534.00 | 237.00% | Bigger business size with higher operating profit |
| Net cash generated from/used in investing activities | -21,314,532,961.00 | -14,576,688,249.00 | -- | Increase in construction expenditures for new projects and investments inwealth management instruments |
| Net cash generated from/used in financing activities | -12,633,974,318.00 | 5,848,629,767.00 | -316.02% | Increase in expenditures on repurchase of non-controlling interests, and decrease in renewable corporate bonds issued |
| Net increase in cash and cash equivalents | -1,723,109,268.00 | 1,336,418,453.00 | -228.93% | N/A |
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 2021 | H1 2020 | Change (%) | ||
| Operating revenue | As % of total operating revenue (%) | Operating revenue | As % of total operating revenue (%) | ||
| Total | 107,285,327,026.00 | 100% | 56,751,329,065.00 | 100% | 89.04% |
| By operating division | |||||
| Display business | 104,673,381,879.00 | 97.57% | 55,285,611,834.00 | 97.42% | 89.33% |
| Intelligence System and Innovation business | 710,847,862.00 | 0.66% | 454,883,859.00 | 0.80% | 56.27% |
| Smart Medical Engineering business | 863,981,458.00 | 0.81% | 704,620,573.00 | 1.24% | 22.62% |
| MLED business | 273,171,561.00 | 0.25% | 0.00 | 0.00% | — |
| Sensor and Solution business | 79,166,852.00 | 0.07% | 62,999,853.00 | 0.11% | 25.66% |
| Others and offset | 684,777,414.00 | 0.64% | 243,212,946.00 | 0.43% | 181.55% |
| By product category | |||||
| Display business | 104,673,381,879.00 | 97.57% | 55,285,611,834.00 | 97.42% | 89.33% |
| Intelligence System and Innovation business | 710,847,862.00 | 0.66% | 454,883,859.00 | 0.80% | 56.27% |
| Smart Medical Engineering business | 863,981,458.00 | 0.81% | 704,620,573.00 | 1.24% | 22.62% |
| MLED business | 273,171,561.00 | 0.25% | 0.00 | 0.00% | — |
| Sensor and Solution business | 79,166,852.00 | 0.07% | 62,999,853.00 | 0.11% | 25.66% |
| Others and offset | 684,777,414.00 | 0.64% | 243,212,946.00 | 0.43% | 181.55% |
| By operating segment | |||||
| Mainland China | 49,456,134,518.00 | 46.10% | 27,827,584,705.00 | 49.03% | 77.72% |
| Other regions in Asia | 44,033,957,730.00 | 41.04% | 23,316,786,200.00 | 41.09% | 88.85% |
| Europe | 3,602,378,360.00 | 3.36% | 2,114,536,683.00 | 3.73% | 70.36% |
| America | 10,094,599,107.00 | 9.41% | 3,384,364,128.00 | 5.96% | 198.27% |
| Other regions | 98,257,311.00 | 0.09% | 108,057,349.00 | 0.19% | -9.07% |
Note: In order to protect the Company’s core competitiveness and investors’ interests, as well as avoid the leakage of business secrets,cost of sales is only presented with respect to the industry segment to which the Company belongs in the table below.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 business | 104,673,381,879.00 | 72,756,787,083.00 | 30.49% | 89.33% | 55.59% | 15.07% |
| By product category | ||||||
| Display business | 104,673,381,879.00 | 72,756,787,083.00 | 30.49% | 89.33% | 55.59% | 15.07% |
| By operating segment | ||||||
| Mainland China | 49,456,134,518.00 | 35,059,330,192.00 | 29.11% | 77.72% | 51.39% | 12.33% |
| Other regions in Asia | 44,033,957,730.00 | 28,963,326,982.00 | 34.23% | 88.85% | 50.91% | 16.54% |
Core business data of the prior year restated according to the changed statistical caliber for the Reporting Period:
□ Applicable√ Not applicable
Reason for any over 30% YoY movements in the data above
√ Applicable □ Not applicable
The domestic economy is gradually recovering and sees steady growth. The online economy stimulates the demand for consumerelectronics products. Benefited from the 14th Five-Year Plan, digital economy has brought opportunities to the IoT scenarios, such asIIOT, smart park and smart finance. The overseas pandemic is still severe, and the "contactless economy" characterized by homeliving and telecommuting continues to drive the demand for display panels. The supply of raw materials such as driver IC andchip-on-glass is tight, which affects the panel price to a certain extent. Sales of display devices increased 18% year on year, and salesarea increased 45% year on year. 3C product sales increased by 38% year on year. The sales area of innovative application devicesincreased by 66% year on year. The revenue increased significantly.
IV Analysis of Non-Core Businesses
√ Applicable □ Not applicable
Unit: RMB
| Item | Amount | As % of profit before taxation | Source/Reason | Recurrent or not |
| Return on investment | 25,936,741.00 | 0.14% | N/A | Not |
| Gain/loss on changes in fair value | 37,887,125.00 | 0.20% | N/A | Not |
| Asset impairments | -2,307,446,795.00 | -12.34% | Amount provided for inventory falling price impairment according to market conditions | Not |
| Non-operating income | 48,115,802.00 | 0.26% | N/A | Not |
| Non-operating expense | 21,548,141.00 | 0.12% | N/A | Not |
V Analysis of Assets and Liabilities
1. Material Changes in Asset Composition
Unit: RMB
| Item | 30 June 2021 | 31 December 2020 | Change in percentage (%) | Reason for material change | ||
| Amount | As % of total assets | Amount | As % of total assets | |||
| Monetary assets | 71,388,786,223.00 | 16.39% | 73,694,296,095.00 | 17.37% | -0.98% | N/A |
| Accounts receivable | 36,105,667,536.00 | 8.29% | 22,969,140,355.00 | 5.41% | 2.88% | Increase in operating revenue, and new production line project |
| going into operation | ||||||
| Contract assets | 42,346,704.00 | 0.01% | 49,897,395.00 | 0.01% | 0.00% | N/A |
| Inventories | 23,564,150,328.00 | 5.41% | 17,875,454,490.00 | 4.21% | 1.20% | Increase in operating revenue, and new production line project going into operation |
| Investment property | 1,199,068,417.00 | 0.28% | 1,196,168,511.00 | 0.28% | 0.00% | N/A |
| Long-term equity investments | 3,455,420,187.00 | 0.79% | 3,693,170,224.00 | 0.87% | -0.08% | N/A |
| Fixed assets | 224,483,239,199.00 | 51.55% | 224,866,586,069.00 | 53.00% | -1.45% | N/A |
| Construction in progress | 42,790,191,160.00 | 9.83% | 42,575,849,952.00 | 10.04% | -0.21% | N/A |
| Right-of-use assets | 599,237,772.00 | 0.14% | 0.00 | 0.00% | 0.14% | N/A |
| Short-term borrowings | 5,893,887,382.00 | 1.35% | 8,599,569,471.00 | 2.03% | -0.68% | N/A |
| Contract liabilities | 3,513,356,959.00 | 0.81% | 3,440,720,535.00 | 0.81% | 0.00% | N/A |
| Long-term borrowings | 132,226,258,609.00 | 30.36% | 132,452,767,135.00 | 31.22% | -0.86% | N/A |
| Lease liabilities | 547,150,126.00 | 0.13% | 0.00 | 0.00% | 0.13% | 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) | 4,367,201,833.00 | 37,887,125.00 | 0.00 | 0.00 | 11,182,802,114.00 | 12,286,800,000.00 | 0.00 | 3,261,079,527.00 |
| 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 | 533,645,423.00 | 0.00 | -175,069,302.00 | 0.00 | 36,625,599.00 | 0.00 | 0.00 | 543,517,479.00 |
| Subtotal of financial assets | 4,900,847,256.00 | 37,887,125.00 | -175,069,302.00 | 0.00 | 11,219,427,713.00 | 12,286,800,000.00 | 0.00 | 3,804,597,006.00 |
| Investment property | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Productive living | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| assets | ||||||||
| Others | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total of the above | 4,900,847,256.00 | 37,887,125.00 | -175,069,302.00 | 0.00 | 11,219,427,713.00 | 12,286,800,000.00 | 0.00 | 3,804,597,006.00 |
| 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
| Item | Ending carrying value | Restriction reason |
| Monetary assets | 4,898,511,123.00 | As pledge for guarantee and as security deposits |
| Notes receivable | 29,880,198.00 | Endorsed with resource |
| Inventories | 0.00 | Naught |
| Fixed assets | 159,026,382,261.00 | As mortgage for guarantee |
| Intangible assets | 1,636,495,867.00 | As mortgage for guarantee |
| Construction in progress | 11,680,731,138.00 | As mortgage for guarantee |
| Investment property | 64,759,263.00 | As mortgage for guarantee |
| Total | 177,336,759,850.00 | -- |
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（%） |
| 796,092,446.00 | 347,061,271.00 | 129.38% |
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 | SH600658 | Electronic Zone | 90,160,428.00 | Fair value method | 74,372,840.00 | 0.00 | -31,596,972.00 | 0.00 | 0.00 | 1,924,620.00 | 58,563,456.00 | Other equity instrument investment | Self-funded |
| Domestic/overseas stock | HK01963 | Bank of Chongqing | 128,514,251.00 | Fair value method | 102,845,668.00 | 0.00 | -20,131,540.00 | 0.00 | 0.00 | 9,378,620.00 | 108,382,711.00 | Other equity instrument investment | Self-funded |
| Domestic/overseas stock | HK01518 | New Century Healthcare | 134,067,764.00 | Fair value method | 36,995,513.00 | 0.00 | -110,339,168.00 | 0.00 | 0.00 | 0.00 | 23,728,596.00 | Other equity instrument investment | Self-funded |
| 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 | 352,742,443.00 | -- | 214,214,021.00 | 0.00 | -162,067,680.00 | 0.00 | 0.00 | 11,303,240.00 | 190,674,763.00 | -- | -- | ||
| Disclosure date of the announcement about the board’s consent for the | N/A | ||||||||||||
| securities investment | |
| Disclosure date of the announcement about the general meeting’s consent for the securities investment (if any) | N/A |
(2) Investments in Derivative Financial Instruments
√ Applicable □ Not applicable
Unit: RMB’0,000
| Counterparty | Relationship with the Company | Related-party transaction or not | Type of derivative | Initial investment amount | Start date | End date | Beginning investment amount | Purchased in the Reporting Period | Sold in the Reporting Period | Impairment allowance (if any) | Ending investment amount | Ending investment amount as % of the Company’s ending net asset value | Actual gain/loss in the Reporting Period |
| Financial institutions | Not related parties | Not | Foreign exchange forward contract | 118,687.93 | 1 January 2021 | 30 June 2021 | 118,687.93 | 37,581.89 | 42,572.06 | -- | 113,697.76 | 0.61% | 47.69 |
| Total | 118,687.93 | -- | -- | 118,687.93 | 37,581.89 | 42,572.06 | -- | 113,697.76 | 0.61% | 47.69 | |||
| Funding source | Self-funded | ||||||||||||
| Legal matters involved (if applicable) | N/A | ||||||||||||
| Disclosure date of the announcement about the board’s consent for the derivatives investment (if any) | N/A | ||||||||||||
| Disclosure date of the announcement about the general meeting’s consent for the derivatives investment (if any) | N/A | ||||||||||||
| Analysis of risks and control measures associated with the derivative investments held in the Reporting Period (including but not limited to market, liquidity, credit, operational and legal risks, etc.) | As of the end of the reporting period, the financial derivatives held by the company are foreign exchange forward contracts, and the risks faced are related to the uncertainty of the foreign exchange market in the future. The company's control measures for the financial derivatives are as follows: the company controls the types of derivative transactions, reasonably matches the scale of derivative transactions, and the transactions must match the company's production, operation and development planning, mainly for the purpose of cost locking and risk prevention. |
| Changes in market prices or fair value of derivative investments in the Reporting Period (fair value analysis should include measurement methods and related assumptions and parameters) | The fair value of the invested derivatives at the end of the reporting period shall be determined by reference to the market quotation of the external financial institutions. |
| Significant changes in accounting policies and specific accounting principles adopted for derivative investments in the Reporting Period compared to the last reporting period | No major changes |
| Opinion of independent directors on derivative investments and risk control | N/A |
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 applicable
Main 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 | Investment construction, R&D, Production, and sales of relevant products of TFT-LCD and its matching products. | 19,226,000,000.00 | 41,725,990,096.00 | 31,927,026,573.00 | 14,875,276,392.00 | 4,963,768,253.00 | 4,120,374,990.00 |
| Fuzhou BOE Optoelectronics Technology Co., Ltd. | Subsidiary | Investment construction, R&D, Production, and sales of relevant products of TFT-LCD and its matching products. | 17,600,000,000.00 | 31,068,281,248.00 | 20,748,336,117.00 | 9,262,101,729.00 | 3,030,520,659.00 | 2,928,794,201.00 |
| Beijing BOE Display Technology Co., Ltd. | Subsidiary | Development and production of TFT-LCD | 17,882,913,500.00 | 43,592,700,793.00 | 22,046,389,040.00 | 22,101,088,507.00 | 2,721,209,816.00 | 2,294,526,934.00 |
| Hefei BOE Display Technology Co., Ltd. | Subsidiary | Investment construction, R&D, and production of relevant products of TFT-LCD and its matching products. | 24,000,000,000.00 | 42,790,838,081.00 | 23,251,900,230.00 | 10,056,857,841.00 | 2,117,781,713.00 | 2,117,875,480.00 |
Subsidiaries obtained or disposed in this Reporting Period
□ Applicable √ Not applicable
Information about major majority- and minority-owned subsidiaries:
Naught
IX Structured Bodies Controlled by the Company
□ Applicable √ Not applicable
X Risks Facing the Company and CountermeasuresMacroeconomic environmental risksIn the first half of 2021, changes unseen in 100 years were accelerating, with COVID-19 outbreaks recurring and normalizing in some areas, instability and uncertainty in the external environmentsignificantly increasing. In such a context, competition and cooperation have become the main theme of future development among major countries. With global currency over-issue, the globaleconomy is expected to enter a period of economic upheaval based on fluctuations in the financial system. In the "14th Five-Year Plan", industry digitalization plays an important role in thedevelopment of digital economy. While becoming a powerful engine for the development of the digital economy, it also mitigates the negative impact of the COVID-19 on the real economy andbrings opportunities to scenarios such as IIOT, smart park and smart finance. In this context, BOE kept optimizing its main business, continued to promote the IoT transformation strategy, persistedin innovation-driven transformation and upgrading, accelerated the development of smart systems innovation, and focused on segment application scenarios to empower the IoT transformation inthe industry.
Part IV Corporate GovernanceI 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 | Index to disclosed information |
| The 1st Extraordinary General Meeting of 2021 | Extraordinary General Meeting | 36.13% | 26 February 2021 | 27 February 2021 | Announcement on Resolution of the 1st Extraordinary General Meeting of 2021 (2021-017) disclosed on China Securities Journal, Shanghai Securities News, Securities Times and Ta Kung Pao as well as http://www.cninfo.com.cn. |
| The 2020 Annual General Meeting | Annual General Meeting | 32.31% | 18 May 2021 | 19 May 2021 | Announcement on Resolution of the 2020 Annual General Meeting (2021-039) disclosed on China Securities Journal, Shanghai Securities News, Securities Times and Ta Kung Pao as well as http://www.cninfo.com.cn. |
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 |
| Zhang Yu | Senior management | Appointed | 22 March 2021 | Appointed |
| Wang Huacheng | Independent director | Left for term expiration | 18 May 2021 | Left for term expiration |
| Zhang Xinmin | Independent director | Elected | 18 May 2021 | Elected |
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
The Company disclosed the Announcement on the Resolution of the 15
th Meeting of the 9
thBoard of Directors (Announcement No.:
2020-047) and the 2020 Stock Option and Restricted Stock Grant Program and other related announcements on 29 August 2020, inwhich the Company intends to implement the Equity Incentive Scheme, including both the Stock Option Incentive Scheme and theRestricted Stock Incentive Scheme. The source of the stock is the Company's A-shares repurchased from the secondary market. Thetotal stock options and restricted stock incentive plan stock interests shall not exceed 981,150,000 shares, including 639,900,000stock options and 341,250,000 restricted stock shares, representing approximately 2.82% of the total 34,798,398,763 shares of theCompany's share capital at the time of the announcement of this draft incentive plan. On 30 October 2020, the Company received theApproval on the Implementation of the Equity Incentive Scheme of BOE (J.G.Z. [2020] No. 77) from the State-owned AssetsSupervision and Administration Commission of People's Government of Beijing Municipality forwarded by Beijing ElectronicsHolding Co., Ltd, the actual controller, and the State-owned Assets Supervision and Administration Commission of People'sGovernment of Beijing Municipality approved in principle the implementation of this incentive plan by the Company. The Companydisclosed the Announcement on the Adjustment of the List of Incentive Subjects and the Number of Equities Granted under the 2020Stock Option and Restricted Stock Incentive Scheme (Announcement No.: 2020-081) and the Announcement on the First Grant ofStock Options and Restricted Shares to Incentive Subjects (Announcement No.: 2020-082) on 22 December 2020 to determine thatthe grant date/authorization date of the Incentive Scheme is 21 December 2020, and 596,229,700 stock options will be granted to1,988 incentive recipients and 321,813,800 restricted shares will be granted to 793 incentive recipients. The Company disclosed theAnnouncement on Completion of Registration of the First Grant of the 2020 Stock Option and Restricted Stock Incentive Scheme(Announcement No.: 2020-086) on 31 December 2020. The conditions for the grant under the Incentive Scheme of the Companyhave been fulfilled and the first registration of the grant has been completed. The completion date of the registration of the first grantof options under the Stock Option Incentive Scheme was 25 December 2020. The option ticker was 037100 and the option ticker isEastern JLC1; the listing date of the restricted shares granted was 29 December 2020.
Part V Environmental and Social ResponsibilityI Major Environmental IssuesIndicate by tick mark whether the Company or any of its subsidiaries is a heavily polluting business identified by the environmental protection authorities of China.
√ Yes □ No
| Name of polluter | Name of major pollutants | Way of discharge | Number of discharge outlets | Distribution of discharge outlets | Discharge concentration | Discharge standards implemented | Total discharge | Approved total discharge | Excessive discharge |
| Beijing BOE Optoelectronics Technology Co., Ltd. | COD | Standard emission after being treated by sewage treatment system | 1 | Northwest corner of factory | 47mg/L | 500mg/L | 65.887t | 414.21t | None |
| Ammonia nitrogen | 5mg/L | 45mg/L | 6.857t | 29.59t | None | ||||
| The 4.5 generation TFT-LCD production line of Chengdu BOE Optoelectronics Technology Co., Ltd. | COD | Standard emission after being treated by sewage treatment system | 1 | North side of factory | 123.68mg/L | 500mg/L | 65.97t | 607.66t | None |
| Ammonia nitrogen | 20.23mg/L | 45mg/L | 10.47t | 54.69t | None | ||||
| Hefei BOE Optoelectronics Technology Co., Ltd. | COD | Standard emission after being treated by sewage treatment system | 1 | Northwest corner of factory | 45.62 mg/L | 380mg/L | 84.48t | 1081.55t | None |
| Ammonia nitrogen | 2.49 mg/L | 30mg/L | 4.61t | 101.23t | None | ||||
| Beijing BOE Display Technology | COD | Standard emission after being treated by sewage treatment system | 1 (main discharge | East gate of factory | 176mg/L | 500mg/l | 528.30t | 1618.8t | None |
| Ammonia | 21.21mg/L | 45mg/l | 60.50t | 134.4t | None |
| Co., Ltd. | nitrogen | outlet of wastewater) | |||||||
| COD | 1(S2 Phase II discharge outlet of sanitary sewage) | South gate of dormitory area | 24.17mg/L | 500mg/l | 2.00t | 80.76t | None | ||
| Ammonia nitrogen | 24.42mg/L | 45mg/l | 1.91t | 6.06t | None | ||||
| Hefei Xinsheng Optoelectronics Technology Co., Ltd. | COD | Standard emission after being treated by sewage treatment system | 1 | Northeast gate of factory | 147mg/L | 380mg/L | 392.6t | 3383.5375t | None |
| Ammonia nitrogen | 15.38mg/L | 30mg/L | 40.14t | 267.1214t | None | ||||
| Erdos Yuansheng Optoelectronics Co., Ltd. | COD | Standard emission after being treated by sewage treatment system | 1 | North side of factory | 68.88mg/L | 500mg/L | 47.01t | 713.81t | None |
| Ammonia nitrogen | 1.12mg/L | 45mg/L | 0.77t | 76.82t | None | ||||
| The 6th generation flexible AMOLED production line of Chengdu BOE Optoelectronics Technology Co., Ltd. | COD | Standard emission after being treated by sewage treatment system | 1 | North side of factory | 54.85mg/L | 500mg/L | 98.56t | 2442.94t | None |
| Ammonia nitrogen | 5.78 mg/L | 45 mg/L | 9.66t | 203.53t | None | ||||
| Chongqing BOE Optoelectronics Technology Co., Ltd. | COD | Standard emission after being treated by sewage treatment system | 1 | South side of factory | 93.70mg/L | 400mg/L | 229.72t | 1900.24t | None |
| Ammonia nitrogen | 5.32mg/L | 30mg/L | 13.06t | 146.17t | None | ||||
| Hefei BOE Display Technology Co., Ltd. | COD | Standard emission after being treated by sewage treatment system | 1 | North side of factory | 95.7mg/L | 400mg/L | 395.21t | 1189.88t | None |
| Ammonia nitrogen | 11.25mg/L | 35mg/L | 47.45t | 118.98t | None |
| Fuzhou BOE Optoelectronics Technology Co., Ltd. | COD | Standard emission after being treated by sewage treatment system | 1 | Northeast side of factory | 90.61mg/L | 500mg/L | 44.22t | 510.35t | None |
| Ammonia nitrogen | 8.13mg/L | 45 mg/L | 1.13t | 68.05t | None | ||||
| Mianyang BOE Optoelectronics Technology Co., Ltd. | COD | Standard emission after being treated by sewage treatment system | 1 | North side of factory | 31.31mg/L | 500mg/L | 56.83t | 6911.3775t | None |
| Ammonia nitrogen | 1.99mg/L | 45mg/L | 3.61t | 364.6771t | None | ||||
| Wuhan BOE Optoelectronics Technology Co., Ltd. | COD | Standard emission after being treated by sewage treatment system | 1 | Northeast corner of factory | 54.14mg/l | 500mg/L | 274.75t | 391.7t | None |
| Ammonia nitrogen | 2.87mg/L | 45mg/L | 14.8t | 19.6t | None | ||||
| Nanjing BOE Display Technology Co., Ltd. | COD | Standard emission after being treated by sewage treatment system | 1 | South side of factory | 198.3mg/L | 500mg/L | 751.17t | 2215.01t | None |
| Ammonia nitrogen | 7.59mg/L | 45mg/L | 28.62t | 183.67t | None | ||||
| Chengdu CEC Panda Display Technology Co., Ltd. | COD | Standard emission after being treated by sewage treatment system | 1 | Northwest corner of factory | 195mg/L | 500mg/L | 558.18t | 4310.1t | None |
| Ammonia nitrogen | 12 mg/L | 45 mg/L | 34.38t | 148.8t | None | ||||
| BOE (Hebei) Mobile Display Technology Co., Ltd. | COD | Discharged into sewage treatment plant through municipal pipes | 2 | Southeast side of factory | 24.5mg/L | 500mg/L | 0.324t | 13.554t | None |
| Ammonia nitrogen | 0.296mg/L | 45mg/L | 0.004t | 1.01t | None | ||||
| COD | North side of factory | 142mg/L | 500mg/L | 3.852t | 74.937t | None | |||
| Ammonia nitrogen | 4.93mg/L | 45mg/L | 0.128t | 6.744t | None | ||||
| BOE Technology Group Co., Ltd. | COD | Standard emission after being treated by sewage treatment system | 1 | Northwest corner of factory | 63.6mg/L | 500mg/L | 0.29t | 11.114t | None |
| Ammonia | 3.82mg/L | 45mg/L | 0.017t | 0.341t | None |
Construction of pollution prevention equipment and operation conditionDuring the Reporting Period, the Company did not have any serious environmental problems. The Company builds soundenvironment management systems and establishes the environment management organizations to supervise the overall environmentperformance of the Company, work out the environment management objectives and related systems, conduct regular supervisionand instruction for the environment management of subordinate companies and push forward the implementation of environmentmanagement.Currently, the waste water which is generated by each subordinate enterprise of the Company can be divided in to industrial wastewater and household waste water. Rain water-waste water shunting system is adopted for drainage system to drain water separatelyaccording to different natures. After collecting, the rain water is discharged into rain water pipeline of factory; after the rain water iscollected by rain water pipe network, the rain water is discharged. After being treated by sewage treatment system in factory,industrial waste water is discharged into sewage treatment factory through municipal pipe network for intense treatment. Householdwaste water comprises household fecal waste water and canteen oily waste water etc, after pretreatment, the waste water isdischarged into municipal sewage treatment factory. All industrial and household waste water is not discharged directly, and theconcentration and total amount of drainage satisfy the requirements of national and local relevant standards.In additional, the exhaust gas which is emitted by each subordinate enterprise mainly comes from technology exhaust gas duringproduction process, generally including general exhaust gas, acid exhaust gas, alkaline exhaust gas, special exhaust gas and organicexhaust gas etc. Various exhaust gas can be emitted after being treated by independent emission treatment system. The emissionconcentration and total amount satisfy the national and local relevant standards.“4R concept” for the use of materials has been used by the Company since 2007, that is recycle (Recycle), reduction (Reduce),renewal (Renew) and responsibility (responsibly). The Company promises that the used materials are all in accordance withrequirements of national relevant environmental regulations and the registration, assessment, permission and restriction system ofchemicals. In additional, the Company promotes the recycle of package materials constantly. The waste materials which aregenerated by each subordinate enterprise can be divided into general industrial solid waste, hazardous waste materials and householdwaste materials, and they all handed over to qualified recycler for regular treatment. The disposal rate of hazardous waste materials is100%.The Company focuses on the recycle of water resource and advanced cleaning methods such as adverse cleaning etc are adopted forprocessing equipment. Most high purity water and chemicals are recycled, reducing the consumption of high purity water, chemicaland other materials maximally and reducing the discharge of waste water and waste materials.At present, each subordinate enterprise formulates various management methods such as water pollution management, air pollutionmanagement standard, hazardous waste materials management standard, energy management standard etc. The methods specify theoperation and maintenance regulations and requirements of pollutant treatment system, establish regular monitoring and supervisingmechanism, in order to ensure the continuous stable operation of each system.In recent years, the environmental emission index of the Company is up to national standards such as Sewage ComprehensiveDischarge Standard, Air Pollutant Comprehensive Emission Standard, Industrial Enterprise Environmental Noise Emission Standardwithin Factory Boundary, etc and local standards. The Company will continue to promote the environmental management, devote toforging green factory and improve environmental management level constantly.Environmental Impact Assessment on Construction Project and Other Administrative Licenses for Environmental ProtectionAt present, corresponding environmental impact assessments have been conducted for all construction projects under the control ofthe Company in conformity with applicable national and local laws and regulations, and corresponding administrative licenses havealso been obtained.Contingency Plan for Emergent Environmental IncidentsThe Company has formulated and filed corresponding contingency plan for emergent environmental incidents in the environmentalprotection agency according to relevant requirements of local environmental protection bureaus. However, such contingency plan
consists of comprehensive plan, special plan and on-site disposal plan, and involves various aspects such as waste water, exhaust gas,hazardous wastes and dangerous chemicals etc. Meanwhile, drills must be conducted regularly.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 beenpublished via Beijing Environmental Information Disclosure Platform for Enterprises and Institutions and the Company’s officialwebsite.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 disclosedNoOther related environment protection informationThe Company has set up a "Peak Emission" and "Carbon Neutrality" project team (including leading group, working group) and thepromotion groups of undertakings and organizations to clarify the composition of personnel and organizational responsibilities. Theon-site plant achieves the goal of energy-saving and emission reduction through the operation of the energy management system andthe incentive energy-saving program through refined management on the energy management platform. In the first half of 2021, 299energy saving and emission reduction projects were carried out, including "CDA Partial Voltage, Voltage Reduction", "FFU EnergySaving and Speed Reduction", "MAU Frequency Conversion Transformation", "PCW Free Cooling Energy Saving" and others. Bythe end of June, about 103 million kWH of electricity and 183,800 cubic meters of natural gas had been saved, equivalent to areduction of greenhouse gas emissions by about 63,000 tons of CO2-e.Meanwhile, in order to cope with the challenges and opportunities brought by carbon trading, BOE Beijing Factory takes the lead inimplementing carbon trading, actively carrying out carbon emission trading, CCER replacement quota and other work, to effectivelyincrease carbon reserves.BOE fully considers design for recycling, universal design and minimal design of products in the product design stage, adheres to thegreen 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, BOE and its partners constantly improve thetransportation management system, carry out reasonable layout and planning of transportation stations and routes, improve thedelivery efficiency, and reduce greenhouse gas emissions.II Social ResponsibilityThe Company did not take any targeted measures to help people lift themselves out of poverty during the Reporting Period, also nosubsequent plans.
Part VI Significant Events
1. Commitments of the Company’s Actual Controller, Shareholders, Related Parties and Acquirers, as well as the Company Itself andother Entities Fulfilled in the Reporting Period or Ongoing at the Period-end
√ Applicable □ Not applicable
| Commitment | Promisor | Type of commitment | Details of commitment | Date of commitment making | Term of commitment | Fulfillment |
| Commitments made in share reform | - | - | - | - | - | - |
| Commitments made in acquisition documents or shareholding alteration documents | - | - | - | - | - | - |
| Commitments made in time of asset restructuring | - | - | - | - | - | - |
| Commitments made in time of IPO or refinancing | - | - | - | - | - | - |
| Equity incentive commitments | - | - | - | - | - | - |
| Other commitments made to minority interests | The Chairman of the Board: Mr. Chen Yanshun Vice Chairman of the Board: Mr. Liu Xiaodong Director: Ms. Sun Yun and Mr. Gao Wenbao Supervisor: Mr. Xu Yangping, Mr. He Daopin, Mr. Yan Jun and Mr. Teng Jiao | 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 | 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 |
| Senior Management: Mr. Yao Xiangjun, Mr. Zhang Zhaohong, Mr. Zhong Huifeng, Ms. Feng Liqiong, Mr. Xie Zhongdong, Mr. Miao Chuanbin and Mr. Liu Hongfeng | 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. | |||
| 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 Related Parties 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 the Independent Auditor's “ModifiedOpinion” on the Financial Statements of the Reporting Period
□ Applicable √ Not applicable
VI Explanations Given by the Board of Directors Regarding the Independent Auditor's “Modified Opinion” on the FinancialStatements 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
| General information | Involved amount (RMB’0,000) | Provision | Progress | Decisions and effects | Execution of decisions | Disclosure date | Index to disclosed information |
| Disputes case of sales contract that BOE Technology (HK) Limited sued LeTV Mobile Intelligent Information Technology (Beijing) Co., Ltd, LeTV Holdings (Beijing) Co., Ltd., Le Sai Mobile Technology (Beijing) Co., Ltd. and Mr. JiaYueting | 28,471.43 | No | The judgment of the first instance has taken effect. BOE Technology (HK) Limited has submitted the Application for Execution to Beijing Municipal High People's Court. On 24 December 2020, the Beijing No. 3 Intermediate People's Court made an Application for Execution that LeTV Mobile Intelligent Information Technology (Beijing) Co., Ltd, and LeTV Holdings (Beijing) Co., Ltd. had been included in the list of defaulters, and the court ruled to terminate this enforcement because the defaulters had no property available for execution. | The first instance judgment result: I. The defendant (LETV Mobile Intelligent Information Technology (Beijing) Co., Ltd.) shall pay the plaintiff (BOE Technology (HK) Limited) the owed principal USD36,940,476.77 and the resulting interests (regarding the principal USD12,871,274.5 as the interest basis from 8 September 2016 to 1 March 2017, USD12,144,001.77 from 2 March 2017 to the actual payment day, USD16,172,935 from 13 October 2016 to the actual payment day, USD8,488,690 from 10 November 2016 to the actual payment day, and US134,850 from 8 December 2016 to the actual payment day; the annual interest rate shall be 6% (365 days) ), as well as the liquidated damages (regarding the principal USD2,052,248.71 as the basis from 30 April 2017 to 1 July 2017, USD2,052,248.71 from May 31, 2017 to July 1, 2017, USD2,052,248.71 from 30 June 2017 to 1 July 2017, and USD36,940,476.77 from July 2, 2017 to the actual payment day; the penalty standard was 0.03% per day); under the Installment Payment Agreement within 10 days after the judgment took effect; II. The defendant LETV Holdings (Beijing) Co., Ltd. shall burden the joint and several guarantee for the debt owed by LETV Mobile Intelligent Information Technology (Beijing) Co., Ltd. Defined in the judgment (Item I); III. After the Defendant LETV Holdings (Beijing) Co., Ltd. burdens the joint and several guarantee related to Item II, LETV Holdings (Beijing) Co., Ltd. shall have the right to claim | On 24 December 2020, the Beijing No. 3 Intermediate People's Court made an Application for Execution that LeTV Mobile Intelligent Information Technology (Beijing) Co., Ltd, and LeTV Holdings (Beijing) Co., Ltd. had been included in the list of defaulters, and the court ruled to terminate this enforcement because the defaulters had no property available for execution. | 29 August 2017; 24 April 2018; 28 August 2018; 26 March 2019; 27 August 2019; 28 April 2020; 29 August 2020; 13 April 2021. | For details, see Interim Report 2017 of BOE Technology Group Co., Ltd., 2017 Annual Report, of BOE Technology Group Co., Ltd., Interim Report 2018 of BOE Technology Group Co., Ltd., 2018 Annual Report, of BOE Technology Group Co., Ltd., Interim Report 2019 of BOE Technology Group Co., Ltd. 2019 Annual Report, of BOE Technology Group Co., Ltd., Interim Report 2020 of BOE Technology Group Co., Ltd., and 2020 Annual Report, of BOE Technology Group Co., Ltd.,disclosed on www.cninfo.com.cn. |
Other legal matters:
√ Applicable □ Not applicable
compensation from LETV Mobile Intelligent InformationTechnology (Beijing) Co., Ltd.; IV. The defendant (LETVMobile Intelligent Information Technology (Beijing) Co.,Ltd.) shall pay the plaintiff (BOE Technology (HK)Limited) the owed principal USD2,459,090.91 and theresulting interests (regarding the principalUSD2,459,090.91 as the interest basis from 27 May 2017 to19 August 2019 with the PBC’s benchmark interest rate forloan during the same period as the standard;USD2,459,090.91 from 20 August 2019 to the actualpayment day with the quoted interest rate of the loan marketissued by the national inter-bank offer center as thestandard; the year shall have 365 days) under the PurchaseOrder with the goods payment USD2.75 million; V. Otherclaims of the plaintiff (BOE Technology (HK) Limited)shall be rejected. If the Defendant LETV Mobile IntelligentInformation Technology (Beijing) Co., Ltd. and LETVHoldings (Beijing) Co., Ltd. fails to fulfill their paymentobligation as scheduled in the judgment, the Defendant shallpay the double debt interests during the delayed periodaccording to Article 253 of Civil Procedure Law of thePeople’s Republic of China.General information
| General information | Involved amount (RMB’0,000) | Provision | Progress | Decisions and effects | Execution of decisions | Disclosure date | Index to disclosed information |
| Litigations for H1 2021 (including carryforwards in previous years ) | 15,216.83 | 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, or Finance Companies Controlled by the Company
□ 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, finance company controlled by the Company or any other related parties.
6. Other Major Related-Party Transactions
√ Applicable □ Not applicable
Index to the public announcements about the said related-party transactions disclosed
| Title of public announcement | Disclosure date | Disclosure website |
| Announcement on Involvement in Related-party Transaction for Private Placement of A-shares | 16 January 2021 | www.cninfo.com.cn |
| Announcement on the Prediction of 2021 Annual Routine Connected Transaction | 13 April 2021 | www.cninfo.com.cn |
| Announcement on Involvement in Related-party Transaction for Private Placement of A-shares (Revised) | 25 May 2021 | 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 | 543,671 | 15 March 2017 | 155,455 | Joint-liability | N/A | N/A | 17 March 2017 to 17 March 2027 | Not | Not |
| Chengdu BOE Optoelectronics Technology Co., Ltd. | 24 April 2017 | 2,228,018 | 30 August 2017 | 2,071,497 | Joint-liability | N/A | N/A | 6 September 2017 to 6 September 2029 | Not | Not |
| Chengdu BOE Optoelectronics Technology Co., Ltd. | 24 April 2017 | 450,000 | 31 July 2017 | 91,850 | Joint-liability | N/A | N/A | Opening date of the letter of guarantee to 25 May 2027 | Not | Not |
| Chongqing BOE Optoelectronics Technology Co., Ltd. | 28 July 2014 | 1,376,225 | 29 September 2014 | 127,371 | Joint-liability | N/A | N/A | 5 November 2014 to 5 November 2024 | Not | Not |
| Hefei BOE Display Technology Co., Ltd. | 30 November 2016 | 1,620,572 | 30 August 2017 | 1,234,084 | Joint-liability | N/A | The secured party provides a counter guarantee for the guarantor | 7 September 2017 to 7 September 2027 | Not | Not |
| Fuzhou BOE Optoelectronics Technology Co., Ltd. | 9 December 2015 | 1,295,698 | 8 November 2016 | 639,839 | Joint-liability | N/A | N/A | 19 December 2016 to 19 December 2026 | Not | Not |
| Fuzhou BOE Optoelectronics Technology Co., Ltd. | 9 December 2015 | 300,000 | 8 November 2016 | 48,000 | Joint-liability | N/A | N/A | Opening date of the letter of guarantee to 24 September 2025 | Not | Not |
| Mianyang BOE Optoelectronics Co., Ltd. | 18 May 2018 | 2,064,573 | 18 September 2018 | 1,885,662 | Joint-liability | N/A | The secured party provides a counter guarantee for the guarantor | 26 September 2018 to 26 September 2031 | Not | Not |
| Mianyang BOE Optoelectronics Co., Ltd. | 18 May 2018 | 460,000 | 22 June 2018 | 137,000 | Joint-liability | N/A | The secured party provides a counter guarantee for the guarantor | Opening date of the letter of guarantee to 6 November 2027 | Not | Not |
| Chongqing BOE Display Technology Co., Ltd. | 27 April 2020 | 1,975,927 | 29 December 2020 | 759,829 | Joint-liability | N/A | The secured party provides a counter guarantee for the guarantor | 31 December 2020 to 31 December 2033 | Not | Not |
| Wuhan BOE Optoelectronics Technology Co., Ltd. | 25 March 2019 | 1,952,865 | 16 August 2019 | 861,810 | Joint-liability | N/A | The secured party provides a counter guarantee for the guarantor | 23 August 2019 to 23 August 2032 | Not | Not |
| Nanjing BOE Optoelectronics Co., Ltd. | 23 September 2020 | 180,000 | 12 May 2021 | 135,000 | Joint-liability | N/A | The secured party provides a counter | 12 May 2021 to 31 May 2027 | Not | Not |
| guarantee for the guarantor | ||||||||||
| Nanjing BOE Optoelectronics Co., Ltd. | 23 September 2020 | 120,000 | 12 May 2021 | 120,000 | Joint-liability | N/A | The secured party provides a counter guarantee for the guarantor | 12 May 2021 to 6 June 2026 | Not | Not |
| Chengdu BOE Hospital Co., Ltd. | 27 April 2020 | 240,000 | 15 June 2020 | 115,309 | Joint-liability | N/A | The secured party provides a counter guarantee for the guarantor | 15 June 2020 to 30 June 2042 | Not | Not |
| Total approved line for such guarantees in the Reporting Period (B1) | 0 | Total actual amount of such guarantees in the Reporting Period (B2) | -1,235,976 | |||||||
| Total approved line for such guarantees at the end of the Reporting Period (B3) | 14,807,549 | Total actual balance of such guarantees at the end of the Reporting Period (B4) | 8,382,705 | |||||||
| Guarantees provided between subsidiaries | ||||||||||
| Obligor | Disclosure date of the guarantee line | Line of guarantee | Actual occurrence date | Actual guarantee amount | Type of guarantee | Collateral (if any) | Counter guarantee (if any) | Term of guarantee | Having expired | Guarantee for a |
| announcement | or not | related party or not | ||||||||
| Guangtai Solar Energy Technology (Suzhou) Co., Ltd. | N/A | 5,450 | 20 December 2017 | 3,773 | Joint-liability | N/A | N/A | 20 December 2017 to 6 April 2029 | Not | Not |
| Huanda Trading (Hebei) Co., Ltd. | N/A | 14,600 | 24 May 2017 | 9,197 | Joint-liability | N/A | N/A | 15 June 2017 to 16 March 2031 | Not | Not |
| Yangyuan Photovoltaic Power Generation (Huanggang) Co., Ltd. | N/A | 3,800 | 30 September 2020 | 3,766 | Joint-liability | N/A | N/A | 30 September 2020 to 30 September 2034 | Not | Not |
| Yaoguang New Energy (Shouguang) Co., Ltd. | N/A | 3,600 | 30 September 2020 | 3,568 | Joint-liability | N/A | N/A | 30 September 2020 to 30 September 2034 | Not | Not |
| Suzhou Industrial Park Taijing Photovoltaic Co., Ltd. | N/A | 2,800 | 30 September 2020 | 2,775 | Joint-liability | N/A | N/A | 30 September 2020 to 30 September 2034 | Not | Not |
| Qingmei Solar Energy Technology (Lishui) Co., Ltd. | N/A | 3,300 | 30 September 2020 | 3,137 | Joint-liability | N/A | N/A | 30 September 2020 to 30 September 2034 | Not | Not |
| Qinghong Solar Energy Technology (Jinhua) Co., Ltd. | N/A | 1,700 | 30 September 2020 | 1,616 | Joint-liability | N/A | N/A | 30 September 2020 to 30 September 2034 | Not | Not |
| Qinghui Solar | N/A | 1,100 | 30 September | 1,046 | Joint-liability | N/A | N/A | 30 September 2020 to 30 | Not | Not |
| Energy Technology (Jinhua) Co., Ltd. | 2020 | September 2034 | ||||||||
| Hefei Hexu Technology Co., Ltd. | N/A | 400 | 30 September 2020 | 396 | Joint-liability | N/A | N/A | 30 September 2020 to 30 September 2034 | Not | Not |
| Hefei Chenneng Technology Co., Ltd. | N/A | 800 | 30 September 2020 | 793 | Joint-liability | N/A | N/A | 30 September 2020 to 30 September 2034 | Not | Not |
| Rongke New Energy (Hefei) Co., Ltd. | N/A | 1,400 | 18 December 2017 | 1,175 | Joint-liability | N/A | N/A | 18 December 2017 to 18 December 2032 | Not | Not |
| Tianchi New Energy (Hefei) Co., Ltd. | N/A | 1,100 | 18 December 2017 | 920 | Joint-liability | N/A | N/A | 18 December 2017 to 18 December 2032 | Not | Not |
| Qinghao Solar Energy Technology (Jinhua) Co., Ltd. | N/A | 890 | 18 December 2017 | 717 | Joint-liability | N/A | N/A | 18 December 2017 to 18 December 2032 | Not | Not |
| Xiangqing Solar Energy Technology (Dongyang) Co., Ltd | N/A | 3,476 | 18 December 2017 | 2,378 | Joint-liability | N/A | N/A | 18 December 2017 to 18 December 2032 | Not | Not |
| Qingyue Solar Energy Technology (Wuyi) Co., Ltd | N/A | 960 | 18 December 2017 | 657 | Joint-liability | N/A | N/A | 18 December 2017 to 18 December 2032 | Not | Not |
| Qingyou Solar Energy Technology (Longyou) Co., Ltd | N/A | 2,210 | 18 December 2017 | 1,801 | Joint-liability | N/A | N/A | 18 December 2017 to 18 December 2032 | Not | Not |
| Qingfan Solar Energy Technology (Quzhou) Co., Ltd | N/A | 1,855 | 18 December 2017 | 1,269 | Joint-liability | N/A | N/A | 18 December 2017 to 18 December 2032 | Not | Not |
| Anhui BOE Energy Investment Co., Ltd | N/A | 13,575 | 27 December 2017 | 10,945 | Joint-liability | N/A | N/A | 27 December 2017 to 27 December 2032 | Not | Not |
| Taihang Electric Power Technology (Ningbo) Co., Ltd | N/A | 300 | 3 December 2020 | 291 | Joint-liability | N/A | N/A | 3 December 2020 to 3 December 2034 | Not | Not |
| Guoji Energy (Ningbo) Co., Ltd. | N/A | 1,800 | 3 December 2020 | 1,746 | Joint-liability | N/A | N/A | 3 December 2020 to 3 December 2034 | Not | Not |
| Hongyang Solar Energy Power Generation (Anji) Co., Ltd. | N/A | 2,500 | 3 December 2020 | 2,425 | Joint-liability | N/A | N/A | 3 December 2020 to 3 December 2034 | Not | Not |
| Ke’en Solar Energy Power Generation (Pingyang) Co., Ltd. | N/A | 1,600 | 3 December 2020 | 1,552 | Joint-liability | N/A | N/A | 3 December 2020 to 3 December 2034 | Not | Not |
| Dongze Photovoltaic Power Generation (Wenzhou) Co., Ltd. | N/A | 1,400 | 3 December 2020 | 1,358 | Joint-liability | N/A | N/A | 3 December 2020 to 3 December 2034 | Not | Not |
| Aifeisheng Investment and Management (Wenzhou) Co, Ltd. | N/A | 700 | 3 December 2020 | 679 | Joint-liability | N/A | N/A | 3 December 2020 to 3 December 2034 | Not | Not |
| Beijing BOE | N/A | 12,800 | 23 October 2017 | 12,505 | Pledge | Charging right | N/A | 24 October 2017 to 23 | Not | Not |
| Energy Technology Co., Ltd. | October 2032 | |||||||||
| Beijing BOE Energy Technology Co., Ltd. | N/A | 20,560 | 15 August 2018 | 16,400 | Pledge | Charging right | N/A | 26 September 2018 to 21 December 2032 | Not | Not |
| Beijing BOE Energy Technology Co., Ltd. | N/A | 25,418 | 28 November 2017 | 22,318 | Pledge | Charging right | N/A | 1 December 2017 to 1 December 2032 | Not | Not |
| Hengchuang New Energy Technology (Hong’an) Co., Ltd. | N/A | 6,892 | 31 January 2018 | 5,521 | Joint-liability | N/A | N/A | 31 January 2018 to 31 January 2033 | Not | Not |
| Anhui BOE Energy Investment Co., Ltd. | N/A | 2,060 | 25 April 2018 | 1,742 | Joint-liability | N/A | N/A | 25 April 2018 to 25 April 2033 | Not | Not |
| Junlong New Energy Technology (Huaibin) Co., Ltd. | N/A | 8,459 | 25 April 2018 | 7,152 | Joint-liability | N/A | N/A | 25 April 2018 to 25 April 2033 | Not | Not |
| Shaoxing Guangnian New Energy Co., Ltd. | N/A | 16,000 | 13 December 2018 | 15,078 | Joint-liability | N/A | N/A | 13 December 2018 to 12 December 2033 | Not | Not |
| Shaoxing Xuhui New Energy Co., Ltd. | N/A | 4,500 | 13 December 2018 | 4,241 | Joint-liability | N/A | N/A | 13 December 2018 to 12 December 2033 | Not | Not |
| Hefei BOE Hospital Co., Ltd. | 27 April 2018 | 130,000 | 27 April 2018 | 110,500 | Joint-liability | N/A | N/A | 27 April 2018 to 27 April 2036 | Not | Not |
| Total approved line for such guarantees in the Reporting Period (C1) | 0 | Total actual amount of such guarantees in the Reporting Period | 1,411 | |||||||
| (C2) | ||||
| Total approved line for such guarantees at the end of the Reporting Period (C3) | 298,005 | Total actual balance of such guarantees at the end of the Reporting Period (C4) | 253,435 | |
| Total guarantee amount (total of the three kinds of guarantees above) | ||||
| Total guarantee line approved in the Reporting Period (A1+B1+C1) | 0 | Total actual guarantee amount in the Reporting Period (A2+B2+C2) | -1,234,565 | |
| Total approved guarantee line at the end of the Reporting Period (A3+B3+C3) | 15,105,554 | Total actual guarantee balance at the end of the Reporting Period (A4+B4+C4) | 8,636,140 | |
| Total actual guarantee amount (A4+B4+C4) as % of the Company’s net assets | 77.15% | |||
| 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) | 46,583 | |||
| Amount by which the total guarantee amount exceeds 50% of the Company’s net assets (F) | 3,038,841 | |||
| Total of the three amounts above (D+E+F) | 3,038,841 | |||
| 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 and structured deposit | Self-owned funds | 501,500 | 261,000 | 0 | 0 |
| Total | 501,500 | 261,000 | 0 | 0 | |
Note: Amount incurred refers to the maximum balance of cash entrusted for wealth management in the single day during theReporting PeriodParticulars 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 forentrusted asset management
□ Applicable √ Not applicable
4. Continuing Major Contracts
□ Applicable √ Not applicable
5. 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 Company publicly issued renewable corporate bonds (to qualified investors) (the first issue)(“19BOEY1” for short; Code: 112741) in 2019 with the issue term from 28 October 2019 to 29 October 2019, the issuing scale ofRMB8 billion and the bonds’ ultimate nominal interest rate of 4.0%. The Company publicly issued renewable corporate bonds (toqualified investors) (the first issue) (epidemic prevention and control bonds) (“20BOEY1” for short; Code: 149046) in 2020 with theissue term from 27 February 2020 to 28 February 2020, the issuing scale of RMB2 billion and the bonds’ ultimate nominal interest of
3.64%. The Company publicly issued the renewable corporate bonds (to qualified investors) (the second issue) (epidemic preventionand control bonds) (“20BOEY2” for short; Code: 149065) in 2020 with the issue term from 18 March 2020 to 19 March 2020, theissuing scale of RMB2 billion and the bonds’ ultimate nominal interest of 3.54%. The Company publicly issued the renewablecorporate bonds (to qualified investors) (the third issue) (epidemic prevention and control bonds) (“20BOEY3” for short; Code:
149108) in 2020 with the issue term from 24 April 2020 to 27 April 2020, the issuing scale of RMB2 billion and the bonds’ ultimatenominal interest of 3.50%.The Company disclosed 2020 "19BOEY1" Interest Payment Announcement (Announcement No. 2020-065)on 22 October 2020. BOE Public Issuance of Renewable Corporate Bonds (to Qualified Investors) (the First Issue) in 2019 was oneyear old until 29 October 2020. According to the regulations, interest will be paid once a year during the interest-bearing period. Theinterest payment plan is RMB40.00 (including tax) per 10 bonds. The Company disclosed 2021 "20BOEY1" Interest PaymentAnnouncement (Announcement No. 2021-016) on 23 February 2021. BOE Public Issuance of Renewable Corporate Bonds (toQualified Investors) (the First Issue) (epidemic prevention and control bonds) in 2020 was one year old until 27 February 2021.According to the regulations, interest will be paid once a year during the interest-bearing period. The interest payment plan isRMB36.40 (including tax) per 10 bonds. The Company disclosed 2021 "20BOEY2" Interest Payment Announcement (AnnouncementNo. 2021-018) on 17 March 2021. BOE Public Issuance of Renewable Corporate Bonds (to Qualified Investors) (the Second Issue)(pandemic prevention and control bonds) in 2020 was one year old until 18 March 2021. According to the regulations, interest will bepaid once a year during the interest-bearing period. The interest payment plan is RMB35.40 (including tax) per 10 bonds. TheCompany disclosed 2021 "20BOEY3" Interest Payment Announcement (Announcement No. 2021-035) on 23 April 2021. BOEPublic Issuance of Renewable Corporate Bonds (to Qualified Investors) (the Third Issue) (pandemic prevention and control bonds) in2020 was one year old until 27 April 2021. According to the regulations, interest will be paid once a year during the interest-bearingperiod. The interest payment plan is RMB35.00 (including tax) per 10 bonds.
2. The Company’s wholly-owned subsidiary BOE Technology (HK) Limited filed a lawsuit on the sales contract dispute to thesuperior people’s court in Beijing, and the defendants included LETV Mobile Intelligent Information Technology (Beijing) Co., Ltd.(hereinafter referred to as “LETV Mobile”), LETV Holdings (Beijing) Co., Ltd., Le Sai Mobile Technology (Beijing) Co., Ltd. andJia Yueting with the claimed amount of USD41.84 million in total. However, Beijing Municipal Superior People’s Court respectivelyissued the Notice of Acceptance and the Civil Ruling Paper on Property Preservation on July 6, 2017 and July 31, 2017. LETVMobile ever put forward the jurisdiction objection to Beijing Municipal Superior People’s Court, which was rejected, and thenlaunched a lawsuit on the judgment of the jurisdiction objection to the Supreme People’s Court. Finally, the Supreme People’s Courtmade the final ruling, rejected the appeal of LETV Mobile and affirmed the original judgment. On 8 March 2019, the first hearingwas held in Beijing Municipal Superior People’s Court. On 19 February 2020, Beijing Municipal Superior People’s Court issued thefirst instance judgment:
(1) The defendant (LETV Mobile Intelligent Information Technology (Beijing) Co., Ltd.) shall pay the plaintiff (BOE Technology(HK) Limited) the owed principal USD36,940,476.77 and the resulting interests (regarding the principal USD12,871,274.5 as theinterest basis from 8 September 2016 to 1 March 2017, USD12,144,001.77 from 2 March 2017 to the actual payment day,USD16,172,935 from October 13, 2016 to the actual payment day, USD8,488,690 from November 10, 2016 to the actual paymentday, and US134,850 from 8 December 2016 to the actual payment day; the annual interest rate shall be 6% (365 days)), as well as theliquidated damages (regarding the principal USD2,052,248.71 as the basis from 30 April 2017 to 1 July 2017, USD2,052,248.71from 31 May 2017 to 1 July 2017, USD2,052,248.71 from 30 June 2017 to 1 July 2017, and USD36,940,476.77 from 2 July 2017 tothe actual payment day; the penalty standard was 0.03% per day); under the Installment Payment Agreement within 10 days after thejudgment took effect;
(2) The defendant LETV Holdings (Beijing) Co., Ltd. shall burden the joint and several guarantee for the debt owed by LETVMobile Intelligent Information Technology (Beijing) Co., Ltd. Defined in the judgment (Item I);
(3) After the Defendant LETV Holdings (Beijing) Co., Ltd. burdens the joint and several guarantee related to Item II, LETVHoldings (Beijing) Co., Ltd. shall have the right to claim compensation from LETV Mobile Intelligent Information Technology(Beijing) Co., Ltd.;
(4) The defendant(LETV Mobile Intelligent Information Technology (Beijing) Co., Ltd.) shall pay the plaintiff (BOE Technology(HK) Limited) the owed principal USD2,459,090.91 and the resulting interests (regarding the principal USD2,459,090.91 as theinterest basis from 27 May 2017 to 19 August 2019 with the PBC’s benchmark interest rate for loan during the same period as thestandard; USD2,459,090.91 from August 20, 2019 to the actual payment day with the quoted interest rate of the loan market issued
by the national inter-bank offer center as the standard; the year shall have 365 days) under the Purchase Order with the goodspayment USD2.75 million;
(5) Other claims of the plaintiff (BOE Technology (HK) Limited) shall be rejected.
If the defendant LETV Mobile Intelligent Information Technology (Beijing) Co., Ltd. and LETV Holdings (Beijing) Co., Ltd. fails tofulfill their payment obligation as scheduled in the judgment, the Defendant shall pay the double debt interests during the delayedperiod according to Article 253 of Civil Procedure Law of the People’s Republic of China.The litigation fee was RMB1,465,371.63, of which, RMB5,371.63 shall be paid by the plaintiff BOE Technology (HK) Limited(already paid), and RMB1.46 million shall be jointly burdened by LETV Mobile Intelligent Information Technology (Beijing) Co.,Ltd. and LETV Holdings (Beijing) Co., Ltd. (payment within 7 days after the judgment took effect); the preservation fee wasRMB5000, which shall be jointly burdened by LETV Mobile Intelligent Information Technology (Beijing) Co., Ltd. and LETVHoldings (Beijing) Co., Ltd. (payment within 7 days after the judgment took effect).On 17 March 2020, BOE Technology (HK) Limited received the petition for appeal submitted by LETV Holdings (Beijing) Co., Ltd.to the court. LETV Holdings (Beijing) Co., Ltd. failed to pay the fee for the appeal it had instituted. The Supreme People’s Courtmade the judgment that the case was treated as that the appellant LeTV Holdings (Beijing) Co., Ltd. automatically withdrew theappeal on 8 July 2020. And the judgment of the first instance will take effect since the date when the written order is served. BOETechnology (HK) Limited has submitted the Application for Execution to Beijing High People’s Court and the court has accepted theexecution application. On 24 December 2020, the Beijing No. 3 Intermediate People's Court made an Application for Execution thatLeTV Mobile Intelligent Information Technology (Beijing) Co., Ltd, and LeTV Holdings (Beijing) Co., Ltd. had been included in thelist of defaulters, and the court ruled to terminate this enforcement because the defaulters had no property available for execution.The Company has calculated corresponding bad-debt provision for the account receivables equaling the above-mentioned claimedamount according to the accounting standards, which has uncertain influence on the Company.
3. On 16 January 2021, the Company disclosed the Announcement on the Resolution of the 21st Meeting of the 9th Board of Directors(Announcement No. 2021-001) and the Plan for Non-Public Offering of A-Shares in 2021, and other related announcements, in whichthe Company intends to make a non-public offering of A-shares to no more than 35 specific investors including Jing Guorui Fund. Thenet fund raised was expected to be no more than 2 million. The raised funds will be used for "acquisition of 24.06% equity of WuhanBOE Optoelectronics Technology Co., Ltd.", "capital increase to Chongqing BOE Display Technology Co., Ltd. and construction of itsGen-6 AMOLED (flexible) production line project", "capital increase to Yunnan Chuangshijie Optoelectronics Technology Co., Ltd.and construction of its 12-inch silicon OLED project", "capital increase to Chengdu BOE Hospital and construction of Chengdu BOEHospital project", "repayment of Fuzhou Urban Construction Investment Group loan" and supplementation of working capital. On 22June 2021, the Company disclosed the Announcement on the Approval of the Stock Issuance Examination and Verification Committeeof the China Securities Regulatory Commission on the Non-Public Offering of A-Shares (Announcement No. 2021-053), which tellsthat the Stock Issuance Examination and Verification Committee of the China Securities Regulatory Commission reviewed theapplication of BOE Technology Group Co., Ltd. for the non-public offering of A-shares on 21 June 2021. According to the examinationresults of the meeting, the Company's application for the non-public offering of A Shares was approved. On 8 July 2021, the Companydisclosed the Announcement on the Approval of the China Securities Regulatory Commission for the Non-Public Offering of A-Shares(Announcement No. 2021-054), which tells that the Company received the Reply on Approval of the Non-Public Offering of Shares byBOE Technology Group Co., Ltd. (ZH.J.X.K. [2021] No. 2277) issued by the China Securities Regulatory Commission on 7 July 2021.On 19 August 2021, the Company disclosed the Report on the Non-public Offering of A-shares by BOE Technology Group Co., Ltd. &the Announcement on the Listing of these Shares (announcement No. 2021-058), along with other relevant announcements.3,650,377,019 new shares were issued in the non-public offering, which were listed on the Shenzhen Stock Exchange on 20 August2021.
4. On 28 May 2021, the Company disclosed the Announcement on the Implementation of Equity Distribution for the Year 2020(Announcement No.: 2020-049), which tells that the Company's equity distribution plan for the year 2020 has been examined andapproved at the 2020 Annual General Meeting held on 18 May 2021. In the year 2020, the Company distributed profit to all
shareholders at a rate of RMB1.00 per 10 shares, based on the deduction of the total capital of 34,770,212,630 shares held by theCompany through the buy-back account (wherein, the profit of B shares was paid by converting RMB into HKD at the central rate ofthe exchange of RMB into HKD published by People's Bank of China on the first business day after the resolution of the GeneralMeeting of the Company), and the Company did not give any bonus shares or increase the capital by the provident fund.
| Overview of significant events | Disclosure date | Index to disclosure website for interim report |
| Announcement on Intention to Purchasing Some Equity of the Subsidiary Wuhan BOE Optoelectronics Technology Co., Ltd. | 16 January 2021 | www.cninfo.com.cn |
| Announcement on Being Transferred Some Equity of Mianyang BOE Optoelectronics Technology Co., Ltd. | 27 January 2021 | www.cninfo.com.cn |
| Announcement on Investing the Production Line Expansion of Advanced Generation TFT-LCD by Wuhan BOE Optoelectronics Technology Co., Ltd. | 23 March 2021 | www.cninfo.com.cn |
XIV Significant Events of Subsidiaries
□ Applicable √ Not applicable
Part VII Share Changes and Shareholder InformationI 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 | 325,345,611 | 0.93% | 0 | 0 | 0 | -493,400 | -493,400 | 324,852,211 | 0.93% |
| 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 | 297,364,411 | 0.85% | 0 | 0 | 0 | -493,400 | -493,400 | 296,871,011 | 0.85% |
| Among which: Shares held by domestic corporations | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| Shares held by domestic individuals | 297,364,411 | 0.85% | 0 | 0 | 0 | -493,400 | -493,400 | 296,871,011 | 0.85% |
| 4. Shares held by foreign investors | 27,981,200 | 0.08% | 0 | 0 | 0 | 0 | 0 | 27,981,200 | 0.08% |
| Among which: Shares held by foreign corporations | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| Shares held by foreign individuals | 27,981,200 | 0.08% | 0 | 0 | 0 | 0 | 0 | 27,981,200 | 0.08% |
| II. Non-restricted shares | 34,473,053,152 | 99.07% | 0 | 0 | 0 | 493,400 | 493,400 | 34,473,546,552 | 99.07% |
| 1. RMB ordinary shares | 33,536,939,664 | 96.37% | 0 | 0 | 0 | 493,400 | 493,400 | 33,537,433,064 | 96.38% |
| 2. Domestically listed foreign shares | 936,113,488 | 2.69% | 0 | 0 | 0 | 0 | 0 | 936,113,488 | 2.69% |
| 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 | 34,798,398,763 | 100.00% | 0 | 0 | 0 | 0 | 0 | 34,798,398,763 | 100.00% |
Reasons for share changes:
√ Applicable □ Not applicable
In accordance with the Guidance on Standard Operations of Listed Companies on Shenzhen Stock Exchange, the legal quota of transferable shares for Directors, Supervisors and seniormanagement of the Company shall be remeasured at the beginning of the year, resulting in a decrease of 493,400 shares in the locked shares of executives.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 ordinary shareholders and other financial indicators of the prior year and theprior accounting period, respectively:
√ Applicable □ Not applicable
| Item | January-December 2020 | January-June 2021 |
| Basic earnings per share (RMB/share) | 0.13 | 0.36 |
| Diluted earnings per share (RMB/share) | 0.13 | 0.36 |
| Item | 31 December 2020 | 30 June 2021 |
| Equity per share attributable to the Company’s ordinary shareholders | 2.56 | 2.81 |
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 | 3,531,811 | 493,400 | 0 | 3,038,411 | Adjustment of legal quota for transferable shares | 4 January 2021 |
| Total | 3,531,811 | 493,400 | 0 | 3,038,411 | -- | -- |
II Issuance and Listing of Securities
√ Applicable □ Not applicable
| Name of Stock and derivative securities thereof | Issue date | issue price (interest) | Issue amount | Listing date | Approved amount for listing | Termination date for trading | Disclosure index | Disclosure date |
| Stock | ||||||||
| Non-public issued A share | 12th Aug. 2021 | 5.57 | 3,650,377,019 | 20th Aug. 2021 | 3,650,377,019 | - | www.cninfo.com.cn | 19th Aug. 2021 |
| Convertible corporate bonds, convertible corporate bonds separately traded and corporate bonds | ||||||||
| None | ||||||||
| Other derivative securities | ||||||||
| None | ||||||||
Notes: NoneIII Shareholders and Their Holdings as at the Period-End
| Number of ordinary shareholders at the period-end | 1,448,425 (including 1,410,821 A-shareholders and 37,604 B-shareholders) | |||||||
| 5% or greater ordinary shareholders or top 10 ordinary shareholders | ||||||||
| 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 Center | State-owned legal person | 11.68% | 4,063,333,333 | - | 0 | 4,063,333,333 | N/A | 0 |
| Hong Kong Securities Clearing Company Ltd. | Foreign legal person | 5.96% | 2,072,957,741 | 25,942,122 | 0 | 2,072,957,741 | N/A | 0 |
| Beijing BOE Investment & Development Co., Ltd. | State-owned legal person | 2.36% | 822,092,180 | - | 0 | 822,092,180 | N/A | 0 |
| Hefei Jianxiang Investment Co., Ltd. | State-owned legal person | 1.91% | 666,195,772 | -64,689,645 | 0 | 666,195,772 | N/A | 0 |
| China Construction Bank-GF Technology Pioneer Mixed Type Securities Investment Fund | Other | 0.94% | 327,197,639 | -52,659,138 | 0 | 327,197,639 | N/A | 0 |
| Chongqing Ezcapital Opto-electronics Industry Investment Co., Ltd. | State-owned legal person | 0.94% | 326,229,746 | -343,726,489 | 0 | 326,229,746 | N/A | 0 |
| Beijing Yizhuang Investment Holdings Co., Ltd | State-owned legal person | 0.81% | 281,295,832 | -83,411,066 | 0 | 281,295,832 | N/A | 0 |
| Beijing Electronics Holdings Co., Ltd. | State-owned legal person | 0.79% | 273,735,583 | - | 0 | 273,735,583 | N/A | 0 |
| Central Huijin Asset Management Co., Ltd. | State-owned legal person | 0.71% | 248,305,300 | - | 0 | 248,305,300 | N/A | 0 |
| Norges Bank-Self-Owned Funds | Foreign legal person | 0.71% | 247,828,253 | 205,955,853 | 0 | 247,828,253 | N/A | 0 |
| Strategic investors or general corporations becoming top-ten ordinary shareholders due to placing of new shares (if any) | Naught | |||||||
| Related or acting-in-concert parties among the shareholders above | 1. Beijing State-owned Capital Operation and Management Center held 100% equities of Beijing Electronics Holdings Co., Ltd. 2. Beijing Electronics Holdings Co., Ltd. held 66.25% equities of Beijing BOE Investment & Development Co., Ltd. and was its controlling shareholder. 3. After the non-public issuing of BOE in 2014, Hefei Jianxiang Investment Co., Ltd. and Chongqing Ezcapital Opto-electronics Industry Investment Co., Ltd, by entering into Implementation Protocol of Voting Right respectively, agreed to maintain all of the shares held by them respectively unanimous with Beijing BOE Investment & Development Co., Ltd. when executing the voting rights of the shareholders. 4. After the non-public issuing of the Company in 2014, Beijing State-owned Capital Operation and Management Center handed over 70% of the shares directly held by it to Beijing Electronics Holdings Co., Ltd. for management through Stock Management Protocol, and Beijing Electronics Holdings Co., Ltd. gained the incidental shareholders’ rights except for disposing right and usufruct of the shares, of which the rest 30% voting right maintained unanimous with Beijing Electronics Holdings Co., Ltd. through the agreement according to Implementation Protocol of Voting Right. 5.Except for the above relationships, the Company does not know any other connected party or acting-in-concert party among the top 10 shareholders. | |||||||
| Explain if any of the shareholders above was involved in entrusting/being entrusted with voting rights or waiving voting rights | 1. After the non-public issuing of BOE in 2014, Hefei Jianxiang Investment Co., Ltd. and Chongqing Ezcapital Opto-electronics Industry Investment Co., Ltd, by entering into Implementation Protocol of Voting Right respectively, agreed to maintain all of the shares held by them respectively unanimous with Beijing BOE Investment & Development Co., Ltd. when executing the voting rights of the shareholders. 2. After the non-public issuing of the Company in 2014, Beijing State-owned Capital Operation and Management Center handed over 70% of the shares directly held by it to Beijing Electronics Holdings Co., Ltd. for management through Stock Management Protocol, and Beijing Electronics Holdings Co., Ltd. gained the incidental shareholders’ rights except for disposing right and usufruct of the shares, of which the rest 30% voting right maintained unanimous with Beijing Electronics Holdings Co., Ltd. through the agreement according to Implementation Protocol of Voting Right. | |||||||
| Special account for share repurchases (if any) among the top 10 shareholders | Naught | |||||||
| Shareholdings of the top ten unrestricted ordinary shareholders | |||
| 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 Center | 4,063,333,333 | RMB ordinary share | 4,063,333,333 |
| Hong Kong Securities Clearing Company Ltd. | 2,072,957,741 | RMB ordinary share | 2,072,957,741 |
| Beijing BOE Investment & Development Co., Ltd. | 822,092,180 | RMB ordinary share | 822,092,180 |
| Hefei Jianxiang Investment Co., Ltd. | 666,195,772 | RMB ordinary share | 666,195,772 |
| China Construction Bank-GF Technology Pioneer Mixed Type Securities Investment Fund | 327,197,639 | RMB ordinary share | 327,197,639 |
| Chongqing Ezcapital Opto-electronics Industry Investment Co., Ltd. | 326,229,746 | RMB ordinary share | 326,229,746 |
| Beijing Yizhuang Investment Holdings Co., Ltd | 281,295,832 | RMB ordinary share | 281,295,832 |
| Beijing Electronics Holdings Co., Ltd. | 273,735,583 | RMB ordinary share | 273,735,583 |
| Central Huijin Asset Management Co., Ltd. | 248,305,300 | RMB ordinary share | 248,305,300 |
| Norges Bank-Self-Owned Funds | 247,828,253 | RMB ordinary share | 247,828,253 |
| Related or acting-in-concert parties among top 10 unrestricted ordinary shareholders, as well as between top 10 unrestricted ordinary shareholders and top 10 shareholders | 1. Beijing State-owned Capital Operation and Management Center held 100% equities of Beijing Electronics Holdings Co., Ltd. 2. Beijing Electronics Holdings Co., Ltd. held 66.25% equities of Beijing BOE Investment & Development Co., Ltd. and was its controlling shareholder. 3. After the non-public issuing of BOE in 2014, Hefei Jianxiang Investment Co., Ltd. and Chongqing Ezcapital Opto-electronics Industry Investment Co., Ltd., by entering into Implementation Protocol of Voting Right respectively, agreed to maintain all of the shares held by them respectively unanimous with Beijing BOE Investment & Development Co., Ltd. when executing the voting rights of the shareholders. | ||
| 4. After the non-public issuing of the Company in 2014, Beijing State-owned Capital Operation and Management Center handed over 70% of the shares directly held by it to Beijing Electronics Holdings Co., Ltd. for management through Stock Management Protocol, and Beijing Electronics Holdings Co., Ltd. gained the incidental shareholders’ rights except for disposing right and usufruct of the shares, of which the rest 30% voting right maintained unanimous with Beijing Electronics Holdings Co., Ltd. through the agreement according to Implementation Protocol of Voting Right. 5. Except for the above relationships, the Company does not know any other connected party or acting-in-concert party among the top 10 shareholders. | |
| Top 10 ordinary shareholders involved in securities margin trading (if any) | Top 10 ordinary shareholders were not involved in securities margin trading. We are not aware of any shareholder engaging in securities financing. |
Indicate by tick mark whether any of the top 10 ordinary shareholders or the top 10 unrestricted ordinary shareholders of the Company conducted any promissory repo during the ReportingPeriod.
□ 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, Chief of Executive Committee | Incumbent | 2,900,000 | 0 | 0 | 2,900,000 | 2,000,000 | 0 | 2,000,000 |
| Pan Jinfeng | Vice Chairman of the Board | Incumbent | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Liu Xiaodong | Vice Chairman of the Board, President, Vice Chairman of Executive Committee | Incumbent | 2,480,000 | 0 | 0 | 2,480,000 | 1,800,000 | 0 | 1,800,000 |
| Wang | Director | Incumbent | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Chenyang | |||||||||
| Song Jie | Director | Incumbent | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Sun Yun | Director, member of Executive Committee, Executive vice president, CFO | Incumbent | 1,989,481 | 0 | 0 | 1,989,481 | 1,500,000 | 0 | 1,500,000 |
| Gao Wenbao | Director, member of Executive Committee, Executive vice president, CEO of the Display business | Incumbent | 1,860,700 | 0 | 0 | 1,860,700 | 1,500,000 | 0 | 1,500,000 |
| Li Yantao | Director | Incumbent | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Hu Xiaolin | Independent director | Incumbent | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Li Xuan | Independent director | Incumbent | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Tang Shoulian | Independent director | Incumbent | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Zhang Xinmin | Independent director | Incumbent | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Yang Xiangdong | Chairman of the Supervisory Committee | Incumbent | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Xu Tao | Supervisor | Incumbent | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Wei Shuanglai | Supervisor | Incumbent | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Chen Xiaobei | Supervisor | Incumbent | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Shi Hong | Supervisor | Incumbent | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Xu Yangping | Employee supervisor | Incumbent | 35,000 | 0 | 0 | 35,000 | 0 | 0 | 0 |
| He Daopin | Employee supervisor | Incumbent | 32,600 | 0 | 0 | 32,600 | 0 | 0 | 0 |
| Yan Jun | Employee supervisor | Incumbent | 32,000 | 0 | 0 | 32,000 | 0 | 0 | 0 |
| Teng Jiao | Employee supervisor | Incumbent | 55,200 | 0 | 0 | 55,200 | 0 | 0 | 0 |
| Yao Xiangjun | Member of Executive Committee, Executive vice president | Incumbent | 1,265,000 | 0 | 0 | 1,265,000 | 1,000,000 | 0 | 1,000,000 |
| Zhang Zhaohong | Member of Executive Committee, Executive vice president, CEO of MLED business | Incumbent | 1,498,800 | 0 | 0 | 1,498,800 | 1,000,000 | 0 | 1,000,000 |
| Zhong Huifeng | Member of Executive Committee, Executive vice president, Chief Performance Officer | Incumbent | 1,310,000 | 0 | 0 | 1,310,000 | 1,000,000 | 0 | 1,000,000 |
| Feng Liqiong | Member of Executive Committee, Executive vice president, lead counsel | Incumbent | 1,360,000 | 0 | 0 | 1,360,000 | 1,000,000 | 0 | 1,000,000 |
| Xie Zhongdong | Member of Executive Committee, Senior vice president, Auditor General, Chief Risk Officer | Incumbent | 1,057,000 | 0 | 0 | 1,057,000 | 750,000 | 0 | 750,000 |
| Miao Chuanbin | Member of Executive Committee, vice president, Chief Culture Officer | Incumbent | 758,800 | 0 | 0 | 758,800 | 650,000 | 0 | 650,000 |
| Zhang Yu | Vice president, Chief Human Resource Officer | Incumbent | 751,600 | 0 | 0 | 751,600 | 634,000 | 0 | 634,000 |
| Liu Hongfeng | Vice president, Secretary of the Board | Incumbent | 1,024,500 | 0 | 0 | 1,024,500 | 750,000 | 0 | 750,000 |
| Wang Huacheng | Independent director | Former | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | -- | -- | 18,410,681 | 0 | 0 | 18,410,681 | 13,584,000 | 0 | 13,584,000 |
V Change of the Controlling Shareholder or the De Facto ControllerChange of the controlling shareholder in the Reporting Period
□ Applicable √ Not applicable
No such cases in the Reporting Period.Change of the de facto 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 applicable
I 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
| Bond name | Abbr. | Bond code | Date of issue | Value date | Maturity | Balance (RMB’0,000) | Coupon rate | Way of redemption | Trade place |
| 2019 Public Offering of Renewable Corporate Bonds of BOE (for qualified investors) (Phase I) | 19BOEY1 | 112741 | 28 October 2019 | 29 October 2019 | 29 October 2022 | 8,000,000,000.00 | 4.00% | 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 |
| 2020 Public Offering of Renewable Corporate | 20BOEY1 | 149046 | 27 February 2020 | 28 February 2020 | 28 February 2023 | 2,000,000,000.00 | 3.64% | If the issuer does not execute its right in the deferred interest | SZSE |
| Bonds of BOE (for qualified investors) (Phase I) (epidemic prevention and control bonds) | 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. | ||||||||
| 2020 Public Offering of Renewable Corporate Bonds of BOE (for qualified investors) (Phase II) (epidemic prevention and control bonds) | 20BOEY2 | 149065 | 18 March 2020 | 19 March 2020 | 19 March 2023 | 2,000,000,000.00 | 3.54% | 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 |
| 2020 Public Offering of Renewable Corporate Bonds of BOE (for qualified investors) (Phase III) (epidemic prevention and control bonds) | 20BOEY3 | 149108 | 24 April 2020 | 27 April 2020 | 27 April 2023 | 2,000,000,000.00 | 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 applicable
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 PeriodExceeding 10% 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 2021 | 31 December 2020 | Change |
| Current ratio | 1.37 | 1.23 | 0.14 |
| Debt/asset ratio | 57.31% | 59.13% | -1.82% |
| Quick ratio | 1.15 | 1.06 | 0.09 |
| Item | H1 2021 | H1 2020 | Change |
| Net profit after deducting non-recurring profit or loss | 11,661,616,772.00 | -176,328,585.00 | - |
| Total debt ratio of EBITDA | 23.75% | 9.09% | 14.66% |
| Times interest earned | 8.02 | 1.27 | 531.50% |
| Times interest earned of cash | 12.03 | 6.03 | 99.50% |
| EBITDA-to-interest coverage (times) | 14.27 | 5.37 | 165.74% |
| Loan repayment rate | 100.00% | 100.00% | 0.00% |
| Interest coverage | 100.00% | 100.00% | 0.00% |
Part X Financial StatementsI Independent Auditor’s ReportAre these interim financial statements audited by an independent auditor?
□ Yes √ No
The interim financial statements of the Company have not been audited.
II Financial StatementsCurrency unit for the financial statements and the notes thereto: RMB
1. Consolidated Balance Sheet
Prepared by BOE Technology Group Co., Ltd.
Unit: RMB
| Item | 30 June 2021 | 31 December 2020 |
| Current assets: | ||
| Monetary assets | 71,388,786,223.00 | 73,694,296,095.00 |
| Settlement reserve | 0.00 | 0.00 |
| Interbank loans granted | 0.00 | 0.00 |
| Held-for-trading financial assets | 2,654,184,080.00 | 4,367,201,833.00 |
| Derivative financial assets | 0.00 | 0.00 |
| Notes receivable | 174,208,779.00 | 215,994,373.00 |
| Accounts receivable | 36,105,667,536.00 | 22,969,140,355.00 |
| Accounts receivable financing | 0.00 | 0.00 |
| Prepayments | 1,060,535,364.00 | 1,119,595,984.00 |
| Premiums receivable | 0.00 | 0.00 |
| Reinsurance receivables | 0.00 | 0.00 |
| Receivable reinsurance contract reserve | 0.00 | 0.00 |
| Other receivables | 700,859,352.00 | 658,114,833.00 |
| Including: Interest receivable | 859,163.00 | 2,037,452.00 |
| Dividends receivable | 11,322,356.00 | 1,842,137.00 |
| Financial assets purchased under resale agreements | 0.00 | 0.00 |
| Inventories | 23,564,150,328.00 | 17,875,454,490.00 |
| Contract assets | 42,346,704.00 | 49,897,395.00 |
| Assets held for sale | 0.00 | 186,892,645.00 |
| Current portion of non-current assets | 0.00 | 0.00 |
| Other current assets | 6,141,435,729.00 | 7,848,869,252.00 |
| Total current assets | 141,832,174,095.00 | 128,985,457,255.00 |
| 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 | 0.00 | 0.00 |
| Long-term equity investments | 3,455,420,187.00 | 3,693,170,224.00 |
| Investments in other equity instruments | 543,517,479.00 | 533,645,423.00 |
| Other non-current financial assets | 606,895,447.00 | 0.00 |
| Investment property | 1,199,068,417.00 | 1,196,168,511.00 |
| Fixed assets | 224,483,239,199.00 | 224,866,586,069.00 |
| Construction in progress | 42,790,191,160.00 | 42,575,849,952.00 |
| Productive living assets | 0.00 | 0.00 |
| Oil and gas assets | 0.00 | 0.00 |
| Right-of-use assets | 599,237,772.00 | 0.00 |
| Intangible assets | 11,350,958,890.00 | 11,875,926,448.00 |
| Development costs | 0.00 | 0.00 |
| Goodwill | 1,400,357,242.00 | 1,400,357,242.00 |
| Long-term prepaid expense | 612,527,937.00 | 299,634,100.00 |
| Deferred income tax assets | 70,100,453.00 | 205,041,088.00 |
| Other non-current assets | 6,532,481,355.00 | 8,624,970,019.00 |
| Total non-current assets | 293,643,995,538.00 | 295,271,349,076.00 |
| Total assets | 435,476,169,633.00 | 424,256,806,331.00 |
| Current liabilities: | ||
| Short-term borrowings | 5,893,887,382.00 | 8,599,569,471.00 |
| 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 | 385,911,481.00 | 1,231,533,895.00 |
| Accounts payable | 34,521,121,643.00 | 27,164,171,682.00 |
| Advances from customers | 214,642,319.00 | 124,040,749.00 |
| Contract liabilities | 3,513,356,959.00 | 3,440,720,535.00 |
| 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 | 4,604,350,859.00 | 3,758,623,797.00 |
| Taxes payable | 2,004,711,367.00 | 1,077,686,869.00 |
| Other payables | 28,133,475,807.00 | 32,867,709,024.00 |
| Including: Interest payable | 722,695.00 | 1,946,267.00 |
| Dividends payable | 20,495,428.00 | 6,451,171.00 |
| 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 | 21,084,862,787.00 | 24,500,550,121.00 |
| Other current liabilities | 2,895,601,630.00 | 2,194,716,852.00 |
| Total current liabilities | 103,251,922,234.00 | 104,959,322,995.00 |
| Non-current liabilities: | ||
| Insurance contract reserve | 0.00 | 0.00 |
| Long-term borrowings | 132,226,258,609.00 | 132,452,767,135.00 |
| Bonds payable | 389,542,003.00 | 398,971,739.00 |
| Including: Preferred shares | 0.00 | 0.00 |
| Perpetual bonds | 0.00 | 0.00 |
| Lease liabilities | 547,150,126.00 | 0.00 |
| Long-term payables | 1,414,366,149.00 | 2,114,175,683.00 |
| Long-term employee benefits payable | 0.00 | 0.00 |
| Provisions | 0.00 | 0.00 |
| Deferred income | 5,808,303,532.00 | 4,246,231,468.00 |
| Deferred income tax liabilities | 1,566,679,732.00 | 1,427,601,154.00 |
| Other non-current liabilities | 4,376,989,047.00 | 5,260,001,443.00 |
| Total non-current liabilities | 146,329,289,198.00 | 145,899,748,622.00 |
| Total liabilities | 249,581,211,432.00 | 250,859,071,617.00 |
| Owners’ equity: | ||
| Share capital | 34,798,398,763.00 | 34,798,398,763.00 |
| Other equity instruments | 14,198,004,550.00 | 14,146,997,427.00 |
| Including: Preferred shares | 0.00 | 0.00 |
| Perpetual bonds | 14,198,004,550.00 | 14,146,997,427.00 |
| Capital reserves | 37,061,892,606.00 | 37,435,655,934.00 |
| Less: Treasury stock | 1,036,298,508.00 | 1,036,298,508.00 |
| Other comprehensive income | -92,233,937.00 | -22,198,072.00 |
| Specific reserve | 0.00 | 0.00 |
| Surplus reserves | 2,448,578,058.00 | 2,444,416,669.00 |
| General reserve | 0.00 | 0.00 |
| Retained earnings | 24,567,643,704.00 | 15,509,794,622.00 |
| Total equity attributable to owners of the Company as the parent | 111,945,985,236.00 | 103,276,766,835.00 |
| Non-controlling interests | 73,948,972,965.00 | 70,120,967,879.00 |
| Total owners’ equity | 185,894,958,201.00 | 173,397,734,714.00 |
| Total liabilities and owners’ equity | 435,476,169,633.00 | 424,256,806,331.00 |
Legal representative: ChenYanshun Chief Executive Officer: Liu XiaodongChief Financial Officer: Sun Yun Head of the Company’s Financial Department: Yang Xiaoping
2. Balance Sheet of the Company as the Parent
Unit: RMB
| Item | 30 June 2021 | 31 December 2020 |
| Current assets: | ||
| Monetary assets | 3,241,883,218.00 | 4,375,497,010.00 |
| Held-for-trading financial assets | 0.00 | 0.00 |
| Derivative financial assets | 0.00 | 0.00 |
| Notes receivable | 0.00 | 0.00 |
| Accounts receivable | 5,020,452,900.00 | 3,974,212,308.00 |
| Accounts receivable financing | 0.00 | 0.00 |
| Prepayments | 18,955,784.00 | 12,185,651.00 |
| Other receivables | 15,731,631,758.00 | 16,345,474,583.00 |
| Including: Interest receivable | 0.00 | 0.00 |
| Dividends receivable | 60,055,861.00 | 460,261,502.00 |
| Inventories | 16,731,575.00 | 18,622,283.00 |
| 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 | 130,356,135.00 | 177,761,718.00 |
| Total current assets | 24,160,011,370.00 | 24,903,753,553.00 |
| 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 | 194,551,663,624.00 | 182,135,057,208.00 |
| Investments in other equity instruments | 65,383,488.00 | 81,192,872.00 |
| Other non-current financial assets | 0.00 | 0.00 |
| Investment property | 266,369,185.00 | 271,212,241.00 |
| Fixed assets | 963,707,906.00 | 1,009,178,229.00 |
| Construction in progress | 521,114,957.00 | 418,343,961.00 |
| Productive living assets | 0.00 | 0.00 |
| Oil and gas assets | 0.00 | 0.00 |
| Right-of-use assets | 192,073,868.00 | 0.00 |
| Intangible assets | 1,298,636,272.00 | 1,380,069,827.00 |
| Development costs | 0.00 | 0.00 |
| Goodwill | 0.00 | 0.00 |
| Long-term prepaid expense | 445,924,350.00 | 105,439,681.00 |
| Deferred income tax assets | 0.00 | 0.00 |
| Other non-current assets | 2,407,367,504.00 | 2,611,437,988.00 |
| Total non-current assets | 200,712,241,154.00 | 188,011,932,007.00 |
| Total assets | 224,872,252,524.00 | 212,915,685,560.00 |
| 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 | 46,140,862.00 | 272,241,469.00 |
| Advances from customers | 47,151,929.00 | 18,286,458.00 |
| Contract liabilities | 0.00 | 0.00 |
| Employee benefits payable | 174,269,129.00 | 516,060,153.00 |
| Taxes payable | 122,577,256.00 | 87,179,892.00 |
| Other payables | 4,759,539,130.00 | 6,541,918,681.00 |
| Including: Interest payable | 0.00 | 0.00 |
| Dividends payable | 6,532,990.00 | 6,451,171.00 |
| Liabilities directly associated with assets held for sale | 0.00 | 0.00 |
| Current portion of non-current liabilities | 7,714,623,351.00 | 7,847,210,073.00 |
| Other current liabilities | 61,588,923.00 | 1,977,977.00 |
| Total current liabilities | 12,925,890,580.00 | 15,284,874,703.00 |
| Non-current liabilities: | ||
| Long-term borrowings | 39,811,547,455.00 | 38,360,714,121.00 |
| Bonds payable | 0.00 | 0.00 |
| Including: Preferred shares | 0.00 | 0.00 |
| Perpetual bonds | 0.00 | 0.00 |
| Lease liabilities | 210,519,756.00 | 0.00 |
| Long-term payables | 0.00 | 0.00 |
| Long-term employee benefits payable | 0.00 | 0.00 |
| Provisions | 0.00 | 0.00 |
| Deferred income | 3,182,733,030.00 | 3,633,342,446.00 |
| Deferred income tax liabilities | 383,326,196.00 | 385,697,604.00 |
| Other non-current liabilities | 69,486,661,807.00 | 56,156,661,805.00 |
| Total non-current liabilities | 113,074,788,244.00 | 98,536,415,976.00 |
| Total liabilities | 126,000,678,824.00 | 113,821,290,679.00 |
| Owners’ equity: | ||
| Share capital | 34,798,398,763.00 | 34,798,398,763.00 |
| Other equity instruments | 14,198,004,550.00 | 14,146,997,427.00 |
| Including: Preferred shares | 0.00 | 0.00 |
| Perpetual bonds | 14,198,004,550.00 | 14,146,997,427.00 |
| Capital reserves | 37,009,636,632.00 | 36,696,079,366.00 |
| Less: Treasury stock | 1,036,298,508.00 | 1,036,298,508.00 |
| Other comprehensive income | -28,652,968.00 | 90,713,133.00 |
| Specific reserve | 0.00 | 0.00 |
| Surplus reserves | 2,448,578,058.00 | 2,444,416,669.00 |
| Retained earnings | 11,481,907,173.00 | 11,954,088,031.00 |
| Total owners’ equity | 98,871,573,700.00 | 99,094,394,881.00 |
| Total liabilities and owners’ equity | 224,872,252,524.00 | 212,915,685,560.00 |
3. Consolidated Income Statement
Unit: RMB
| Item | H1 2021 | H1 2020 |
| 1. Revenue | 107,285,327,026.00 | 56,751,329,065.00 |
| Including: Operating revenue | 107,285,327,026.00 | 56,751,329,065.00 |
| 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 | 87,626,534,237.00 | 56,083,675,871.00 |
| Including: Cost of sales | 73,745,889,031.00 | 47,153,846,668.00 |
| 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 | 793,904,356.00 | 512,614,113.00 |
| Selling expense | 2,295,502,342.00 | 1,450,825,484.00 |
| Administrative expense | 4,030,423,338.00 | 2,517,596,650.00 |
| R&D expense | 5,002,518,939.00 | 3,244,433,098.00 |
| Finance costs | 1,758,296,231.00 | 1,204,359,858.00 |
| Including: Interest expense | 2,438,979,548.00 | 1,498,088,250.00 |
| Interest income | 443,748,698.00 | 421,677,692.00 |
| Add: Other income | 1,131,779,224.00 | 1,525,518,015.00 |
| Return on investment (“-” for loss) | 25,936,741.00 | 15,141,467.00 |
| Including: Share of profit or loss of joint ventures and associates | 620,013.00 | -27,648,162.00 |
| 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) | 37,887,125.00 | 19,723,299.00 |
| Credit impairment loss (“-” for loss) | -33,868,609.00 | 805,913.00 |
| Asset impairment loss (“-” for loss) | -2,307,446,795.00 | -1,643,281,210.00 |
| Asset disposal income (“-” for loss) | 152,606,846.00 | 11,657,251.00 |
| 3. Operating profit (“-” for loss) | 18,665,687,321.00 | 597,217,929.00 |
| Add: Non-operating income | 48,115,802.00 | 52,193,491.00 |
| Less: Non-operating expense | 21,548,141.00 | 32,759,545.00 |
| 4. Profit before tax (“-” for loss) | 18,692,254,982.00 | 616,651,875.00 |
| Less: Income tax expense | 2,260,425,038.00 | 495,807,024.00 |
| 5. Net profit (“-” for net loss) | 16,431,829,944.00 | 120,844,851.00 |
| 5.1 By operating continuity | ||
| 5.1.1 Net profit from continuing operations (“-” for net loss) | 16,431,829,944.00 | 120,844,851.00 |
| 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 owners of the Company as the parent | 12,762,024,968.00 | 1,135,450,325.00 |
| 5.2.1 Net profit attributable to non-controlling interests | 3,669,804,976.00 | -1,014,605,474.00 |
| 6. Other comprehensive income, net of tax | -46,126,447.00 | 226,968,107.00 |
| Attributable to owners of the Company as the parent | -28,421,976.00 | 207,001,047.00 |
| 6.1 Items that will not be reclassified to profit or loss | -84,109,200.00 | 171,165,163.00 |
| 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 | -64,314,237.00 | 198,406,448.00 |
| 6.1.3 Changes in the fair value of investments in other equity instruments | -19,794,963.00 | -27,241,285.00 |
| 6.1.4 Changes in the fair value arising from changes in own credit risk | 0.00 | 0.00 |
| 6.1.5 Other | 0.00 | 0.00 |
| 6.2 Items that will be reclassified to profit or loss | 55,687,224.00 | 35,835,884.00 |
| 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 | 55,687,224.00 | 35,835,884.00 |
| 6.2.7 Other | 0.00 | 0.00 |
| Attributable to non-controlling interests | -17,704,471.00 | 19,967,060.00 |
| 7. Total comprehensive income | 16,385,703,497.00 | 347,812,958.00 |
| Attributable to owners of the Company as the parent | 12,733,602,992.00 | 1,342,451,372.00 |
| Attributable to non-controlling interests | 3,652,100,505.00 | -994,638,414.00 |
| 8. Earnings per share | ||
| 8.1 Basic earnings per share | 0.363 | 0.026 |
| 8.2 Diluted earnings per share | 0.363 | 0.026 |
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: Liu XiaodongChief Financial Officer: Sun Yun Head of the Company’s Financial Department: Yang Xiaoping
4. Income Statement of the Company as the Parent
Unit: RMB
| Item | H1 2021 | H1 2020 |
| 1. Operating revenue | 3,056,487,143.00 | 1,289,883,326.00 |
| Less: Cost of sales | 5,740,484.00 | 7,626,334.00 |
| Taxes and surcharges | 17,736,708.00 | 17,148,416.00 |
| Selling expense | 0.00 | 0.00 |
| Administrative expense | 337,658,825.00 | 306,582,567.00 |
| R&D expense | 977,552,146.00 | 843,196,784.00 |
| Finance costs | 408,339,302.00 | 487,597,032.00 |
| Including: Interest expense | 450,708,097.00 | 500,962,725.00 |
| Interest income | 21,893,482.00 | 16,419,166.00 |
| Add: Other income | 484,261,261.00 | 504,756,999.00 |
| Return on investment (“-” for loss) | 1,697,393,282.00 | 840,807,733.00 |
| Including: Share of profit or loss of joint ventures and associates | 13,838,703.00 | -11,034,399.00 |
| 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 | 0.00 |
| Credit impairment loss (“-” for loss) | -1,746,785.00 | -2,659,079.00 |
| Asset impairment loss (“-” for loss) | 0.00 | 0.00 |
| Asset disposal income (“-” for loss) | 0.00 | 0.00 |
| 2. Operating profit (“-” for loss) | 3,489,367,435.00 | 970,637,846.00 |
| Add: Non-operating income | 4,925,381.00 | 4,134,686.00 |
| Less: Non-operating expense | 1,187,679.00 | 192,770.00 |
| 3. Profit before tax (“-” for loss) | 3,493,105,137.00 | 974,579,762.00 |
| Less: Income tax expense | 261,110,109.00 | 16,164,266.00 |
| 4. Net profit (“-” for net loss) | 3,231,995,028.00 | 958,415,496.00 |
| 4.1 Net profit from continuing operations (“-” for net loss) | 3,231,995,028.00 | 958,415,496.00 |
| 4.2 Net profit from discontinued operations (“-” for net loss) | 0.00 | 0.00 |
| 5. Other comprehensive income, net of tax | -77,752,212.00 | 206,469,234.00 |
| 5.1 Items that will not be reclassified to profit or loss | -77,752,212.00 | 206,469,234.00 |
| 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 | -64,314,236.00 | 198,406,448.00 |
| 5.1.3 Changes in the fair value of investments in other equity instruments | -13,437,976.00 | 8,062,786.00 |
| 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 | 3,154,242,816.00 | 1,164,884,730.00 |
| 7. Earnings per share |
| 7.1 Basic earnings per share | 0.085 | 0.021 |
| 7.2 Diluted earnings per share | 0.085 | 0.021 |
5. Consolidated Cash Flow Statement
Unit: RMB
| Item | H1 2021 | H1 2020 |
| 1. Cash flows from operating activities: | ||
| Proceeds from sale of commodities and rendering of services | 102,845,512,014.00 | 62,408,341,810.00 |
| 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 | 6,890,984,602.00 | 5,066,622,972.00 |
| Cash generated from other operating activities | 3,658,020,137.00 | 3,154,292,472.00 |
| Subtotal of cash generated from operating activities | 113,394,516,753.00 | 70,629,257,254.00 |
| Payments for commodities and services | 65,583,684,012.00 | 51,194,153,930.00 |
| 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 | 9,006,613,635.00 | 5,812,713,363.00 |
| Taxes paid | 3,697,784,048.00 | 1,664,294,527.00 |
| Cash used in other operating activities | 2,361,246,719.00 | 2,241,419,900.00 |
| Subtotal of cash used in operating activities | 80,649,328,414.00 | 60,912,581,720.00 |
| Net cash generated from/used in operating activities | 32,745,188,339.00 | 9,716,675,534.00 |
| 2. Cash flows from investing activities: | ||
| Proceeds from disinvestment | 14,595,162,184.00 | 13,329,383,031.00 |
| Return on investment | 63,705,219.00 | 94,522,413.00 |
| Net proceeds from the disposal of fixed assets, intangible assets and other long-lived assets | 15,950,030.00 | 3,619,576.00 |
| Net proceeds from the disposal of subsidiaries and other business units | 0.00 | 0.00 |
| Cash generated from other investing activities | 580,693,730.00 | 159,875,747.00 |
| Subtotal of cash generated from investing activities | 15,255,511,163.00 | 13,587,400,767.00 |
| Payments for the acquisition of fixed assets, intangible assets and other long-lived assets | 22,683,086,935.00 | 19,239,182,973.00 |
| Payments for investments | 13,559,315,026.00 | 8,874,322,149.00 |
| 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 | 327,642,163.00 | 50,583,894.00 |
| Subtotal of cash used in investing activities | 36,570,044,124.00 | 28,164,089,016.00 |
| Net cash generated from/used in investing activities | -21,314,532,961.00 | -14,576,688,249.00 |
| 3. Cash flows from financing activities: | ||
| Capital contributions received | 5,412,784,000.00 | 3,309,530,000.00 |
| Including: Capital contributions by non-controlling interests to subsidiaries | 5,412,784,000.00 | 3,309,530,000.00 |
| Borrowings raised | 19,163,654,139.00 | 27,894,445,943.00 |
| Cash generated from other financing activities | 1,050,916,089.00 | 1,436,274,535.00 |
| Subtotal of cash generated from financing activities | 25,627,354,228.00 | 32,640,250,478.00 |
| Repayment of borrowings | 24,273,242,173.00 | 23,856,277,822.00 |
| Interest and dividends paid | 6,563,653,470.00 | 2,727,548,410.00 |
| Including: Dividends paid by subsidiaries to non-controlling interests | 0.00 | 8,117,072.00 |
| Cash used in other financing activities | 7,424,432,903.00 | 207,794,479.00 |
| Subtotal of cash used in financing activities | 38,261,328,546.00 | 26,791,620,711.00 |
| Net cash generated from/used in financing activities | -12,633,974,318.00 | 5,848,629,767.00 |
| 4. Effect of foreign exchange rates changes on cash and cash equivalents | -519,790,328.00 | 347,801,401.00 |
| 5. Net increase in cash and cash equivalents | -1,723,109,268.00 | 1,336,418,453.00 |
| Add: Cash and cash equivalents, beginning of the period | 68,064,736,371.00 | 50,270,321,573.00 |
| 6. Cash and cash equivalents, end of the period | 66,341,627,103.00 | 51,606,740,026.00 |
6. Cash Flow Statement of the Company as the Parent
Unit: RMB
| Item | H1 2021 | H1 2020 |
| 1. Cash flows from operating activities: | ||
| Proceeds from sale of commodities and rendering of services | 2,330,732,897.00 | 1,659,668,361.00 |
| Tax rebates | 36,064,521.00 | 0.00 |
| Cash generated from other operating activities | 328,682,480.00 | 227,427,089.00 |
| Subtotal of cash generated from operating activities | 2,695,479,898.00 | 1,887,095,450.00 |
| Payments for commodities and services | 2,416,514,190.00 | 1,757,010,176.00 |
| Cash paid to and for employees | 962,945,173.00 | 641,151,291.00 |
| Taxes paid | 404,011,370.00 | 207,510,679.00 |
| Cash used in other operating activities | 91,513,902.00 | 199,311,877.00 |
| Subtotal of cash used in operating activities | 3,874,984,635.00 | 2,804,984,023.00 |
| Net cash generated from/used in operating activities | -1,179,504,737.00 | -917,888,573.00 |
| 2. Cash flows from investing activities: | ||
| Proceeds from disinvestment | 461,214,968.00 | 2,871,711.00 |
| Return on investment | 2,085,472,096.00 | 170,939,834.00 |
| Net proceeds from the disposal of fixed assets, intangible assets and other long-lived assets | 4,330.00 | 9,361.00 |
| Net proceeds from the disposal of subsidiaries and other business units | 0.00 | 0.00 |
| Cash generated from other investing activities | 1,149,998,526.00 | 97,293,535.00 |
| Subtotal of cash generated from investing activities | 3,696,689,920.00 | 271,114,441.00 |
| Payments for the acquisition of fixed assets, intangible assets and other long-lived assets | 593,285,345.00 | 164,209,417.00 |
| Payments for investments | 12,698,003,442.00 | 9,073,757,750.00 |
| Net payments for the acquisition of subsidiaries and other business units | 0.00 | 0.00 |
| Cash used in other investing activities | 25,316,404.00 | 465,233,548.00 |
| Subtotal of cash used in investing activities | 13,316,605,191.00 | 9,703,200,715.00 |
| Net cash generated from/used in investing activities | -9,619,915,271.00 | -9,432,086,274.00 |
| 3. Cash flows from financing activities: | ||
| Capital contributions received | 0.00 | 0.00 |
| Borrowings raised | 8,365,000,000.00 | 14,220,000,000.00 |
| Cash generated from other financing activities | 12,768,112,185.00 | 1,579,420,973.00 |
| Subtotal of cash generated from financing activities | 21,133,112,185.00 | 15,799,420,973.00 |
| Repayment of borrowings | 7,150,000,000.00 | 6,840,000,000.00 |
| Interest and dividends paid | 4,231,130,463.00 | 472,262,049.00 |
| Cash used in other financing activities | 104,779.00 | 184,060,000.00 |
| Subtotal of cash used in financing activities | 11,381,235,242.00 | 7,496,322,049.00 |
| Net cash generated from/used in financing activities | 9,751,876,943.00 | 8,303,098,924.00 |
| 4. Effect of foreign exchange rates changes on cash and cash equivalents | -77,249,702.00 | 4,870,348.00 |
| 5. Net increase in cash and cash equivalents | -1,124,792,767.00 | -2,042,005,575.00 |
| Add: Cash and cash equivalents, beginning of the period | 4,360,065,216.00 | 3,680,770,048.00 |
| 6. Cash and cash equivalents, end of the period | 3,235,272,449.00 | 1,638,764,473.00 |
7. Consolidated Statements of Changes in Owners’ Equity
H1 2021
Unit: RMB
| Item | H1 2021 | ||||||||||||||
| 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 | 34,798,398,763.00 | 0.00 | 14,146,997,427.00 | 0.00 | 37,435,655,934.00 | 1,036,298,508.00 | -22,198,072.00 | 0.00 | 2,444,416,669.00 | 0.00 | 15,509,794,622.00 | 0.00 | 103,276,766,835.00 | 70,120,967,879.00 | 173,397,734,714.00 |
| Add: Adjustment for change in accou | 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 |
| nting 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 | 0.00 | 0.00 | 0.00 |
| Adjustment for business combination under common control | 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. | 34,798,398,763.00 | 0.00 | 14,146,997,427.00 | 0.00 | 37,435,655,934.00 | 1,036,298,508.00 | -22,198,072.00 | 0.00 | 2,444,416,669.00 | 0.00 | 15,509,794,622.00 | 0.00 | 103,276,766,8 | 70,120,96 | 173,397,734 |
| Balance as at the beginning of the Reporting Period | 35.00 | 7,879.00 | ,714.00 | ||||||||||||
| 3. Increase/ decrease in the period (“-” for decrease) | 0.00 | 0.00 | 51,007,123.00 | 0.00 | -373,763,328.00 | 0.00 | -70,035,865.00 | 0.00 | 4,161,389.00 | 0.00 | 9,057,849,082.00 | 0.00 | 8,669,218,401.00 | 3,828,005,086.00 | 12,497,223,487.00 |
| 3.1 Total comprehensive income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -28,421,976.00 | 0.00 | 0.00 | 0.00 | 12,762,024,968.00 | 0.00 | 12,733,602,992.00 | 3,652,100,505.00 | 16,385,703,497.00 |
| 3.2 Capita | 0.00 | 0.00 | 0.00 | 0.00 | -376,241,707.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -376,241,707.00 | 190,282,117.00 | -185,959,590.00 |
| l increased and reduced by owners | |||||||||||||||
| 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 | -926,301,322.00 | -926,301,322.00 |
| 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 | 0.00 | 0.00 | 0.00 |
| 3.2.3 Share- | 0.00 | 0.00 | 0.00 | 0.00 | 288,269,885.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 288,269,885.00 | 20,510,201.00 | 308,780,086.00 |
| based payments included in owners’ equity | |||||||||||||||
| 3.2.4 Other | 0.00 | 0.00 | 0.00 | 0.00 | -664,511,592.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -664,511,592.00 | 1,096,073,238.00 | 431,561,646.00 |
| 3.3 Profit distribution | 0.00 | 0.00 | 51,007,123.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -3,741,628,386.00 | 0.00 | -3,690,621,263.00 | -14,377,536.00 | -3,704,998,799.00 |
| 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 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -3,477,021,263.00 | 0.00 | -3,477,021,263.00 | -14,377,536.00 | -3,491,398,799.00 |
| 3.3.4 Other | 0.00 | 0.00 | 51,007,123.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -264,607,123.00 | 0.00 | -213,600,000.00 | 0.00 | -213,600,000.00 |
| 3.4 Transfers within owners’ equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -41,613,889.00 | 0.00 | 4,161,389.00 | 0.00 | 37,452,500.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 3.4.1 Increase in capital (or | 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 |
| share capital) from 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 | 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 |
| 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 | |||||||||||||||
| 3.4.5 Other comprehensive income transferred to retained earnin | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -41,613,889.00 | 0.00 | 4,161,389.00 | 0.00 | 37,452,500.00 | 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 | 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 | 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 | 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 | 0.00 | 0.00 | 0.00 |
| 3.6 Other | 0.00 | 0.00 | 0.00 | 0.00 | 2,478,379.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 2,478,379.00 | 0.00 | 2,478,379.00 |
| 4. Balance as at the end of the | 34,798,398,763.00 | 0.00 | 14,198,004,550.00 | 0.00 | 37,061,892,606.00 | 1,036,298,508.00 | -92,233,937.00 | 0.00 | 2,448,578,058.00 | 0.00 | 24,567,643,704.00 | 0.00 | 111,945,985,236.00 | 73,948,972,965.00 | 185,894,958,201.00 |
H1 2020
Unit: RMB
| Item | H1 2020 | ||||||||||||||
| 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 | 34,798,398,763.00 | 0.00 | 8,013,156,853.00 | 0.00 | 38,353,242,364.00 | 0.00 | -4,566,639.00 | 0.00 | 1,516,139,709.00 | 0.00 | 12,381,758,005.00 | 0.00 | 95,058,129,055.00 | 45,999,567,919.00 | 141,057,696,974.00 |
| Add: Adjustment for change in accounting policy | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 533,906,114.00 | 0.00 | -533,906,114.00 | 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 |
| Adjustment for business combination | 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 |
| under common control | |||||||||||||||
| 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 Period | 34,798,398,763.00 | 0.00 | 8,013,156,853.00 | 0.00 | 38,353,242,364.00 | 0.00 | -4,566,639.00 | 0.00 | 2,050,045,823.00 | 0.00 | 11,847,851,891.00 | 0.00 | 95,058,129,055.00 | 45,999,567,919.00 | 141,057,696,974.00 |
| 3. Increase/ decrease in the period (“-” for decrease) | 0.00 | 0.00 | 6,184,847,697.00 | 0.00 | 4,921.00 | 0.00 | 214,932,128.00 | 0.00 | 0.00 | 0.00 | 214,618,666.00 | 0.00 | 6,614,403,412.00 | 2,512,782,634.00 | 9,127,186,046.00 |
| 3.1 Total comprehensive income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 207,001,047.00 | 0.00 | 0.00 | 0.00 | 1,135,450,325.00 | 0.00 | 1,342,451,372.00 | -994,638,414.00 | 347,812,958.00 |
| 3.2 Capital increased and reduced by owners | 0.00 | 0.00 | 5,967,915,094.00 | 0.00 | 335,679.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 5,968,250,773.00 | 3,588,270,616.00 | 9,556,521,389.00 |
| 3.2.1 Ordinary shares increased by | 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 | 3,595,303,298.00 | 3,595,303,298.00 |
| owners | |||||||||||||||
| 3.2.2 Capital increased by holders of other equity instruments | 0.00 | 0.00 | 5,967,915,094.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 5,967,915,094.00 | 0.00 | 5,967,915,094.00 |
| 3.2.3 Share-based payments included in 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 | 0.00 | 0.00 | 0.00 |
| 3.2.4 Other | 0.00 | 0.00 | 0.00 | 0.00 | 335,679.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 335,679.00 | -7,032,682.00 | -6,697,003.00 |
| 3.3 Profit distribution | 0.00 | 0.00 | 216,932,603.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -912,900,578.00 | 0.00 | -695,967,975.00 | -80,849,568.00 | -776,817,543.00 |
| 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 Appropriati | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -695,967,975.00 | 0.00 | -695,967,975.00 | -80,849,568.00 | -776,817,543.00 |
| on to owners (or shareholders) | |||||||||||||||
| 3.3.4 Other | 0.00 | 0.00 | 216,932,603.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -216,932,603.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 3.4 Transfers within owners’ equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 7,931,081.00 | 0.00 | 0.00 | 0.00 | -7,931,081.00 | 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 income transferred to retained earnings | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 7,931,081.00 | 0.00 | 0.00 | 0.00 | -7,931,081.00 | 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 | 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 | 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 | 0.00 | 0.00 | 0.00 |
| 3.6 Other | 0.00 | 0.00 | 0.00 | 0.00 | -330,758.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -330,758.00 | 0.00 | -330,758.00 |
| 4. Balance as at the end | 34,798,398,763.00 | 0.00 | 14,198,004,550.00 | 0.00 | 38,353,247,285.00 | 0.00 | 210,365,489.00 | 0.00 | 2,050,045,823.00 | 0.00 | 12,062,470,557.00 | 0.00 | 101,672,532,467.00 | 48,512,350,553.00 | 150,184,883,020.00 |
8. Statements of Changes in Owners’ Equity of the Company as the Parent
H1 2021
Unit: RMB
of theReportingPeriod
Item
| Item | H1 2021 | |||||||||||
| 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 | 34,798,398,763.00 | 0.00 | 14,146,997,427.00 | 0.00 | 36,696,079,366.00 | 1,036,298,508.00 | 90,713,133.00 | 0.00 | 2,444,416,669.00 | 11,954,088,031.00 | 0.00 | 99,094,394,881.00 |
| 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 |
| 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 | 34,798,398,763.00 | 0.00 | 14,146,997,427.00 | 0.00 | 36,696,079,366.00 | 1,036,298,508.00 | 90,713,133.00 | 0.00 | 2,444,416,669.00 | 11,954,088,031.00 | 0.00 | 99,094,394,881.00 |
| 3. Increase/ decrease in the period (“-” for | 0.00 | 0.00 | 51,007,123.00 | 0.00 | 313,557,266.00 | 0.00 | -119,366,101.00 | 0.00 | 4,161,389.00 | -472,180,858.00 | 0.00 | -222,821,181.00 |
| decrease) | ||||||||||||
| 3.1 Total comprehensive income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -77,752,212.00 | 0.00 | 0.00 | 3,231,995,028.00 | 0.00 | 3,154,242,816.00 |
| 3.2 Capital increased and reduced by owners | 0.00 | 0.00 | 0.00 | 0.00 | 308,780,087.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 308,780,087.00 |
| 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 | 308,780,087.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 308,780,087.00 |
| 3.2.4 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 |
| 3.3 Profit distribution | 0.00 | 0.00 | 51,007,123.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -3,741,628,386.00 | 0.00 | -3,690,621,263.00 |
| 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 | 0.00 | 0.00 | 0.00 | 0.00 | -3,477,021,263.00 | 0.00 | -3,477,021,263.00 |
| 3.3.3 Other | 0.00 | 0.00 | 51,007,123.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -264,607,123.00 | 0.00 | -213,600,000.00 |
| 3.4 Transfers within owners’ equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -41,613,889.00 | 0.00 | 4,161,389.00 | 37,452,500.00 | 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 (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 comprehensive income transferred to retained earnings | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -41,613,889.00 | 0.00 | 4,161,389.00 | 37,452,500.00 | 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 |
| 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 | 4,777,179.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 4,777,179.00 |
| 4. Balance as at the end of the Reporting Period | 34,798,398,763.00 | 0.00 | 14,198,004,550.00 | 0.00 | 37,009,636,632.00 | 1,036,298,508.00 | -28,652,968.00 | 0.00 | 2,448,578,058.00 | 11,481,907,173.00 | 0.00 | 98,871,573,700.00 |
H1 2020
Unit: RMB
| Item | H1 2020 | |||||||||
| Share capital | Other equity instruments | Capital reserves | Less: | Other | Specific | Surplus reserves | Retained | Other | Total owners’ equity | |
| Preferred shares | Perpetual bonds | Other | Treasury stock | comprehensive income | reserve | earnings | ||||||
| 1. Balance as at the end of the period of prior year | 34,798,398,763.00 | 0.00 | 8,013,156,853.00 | 0.00 | 37,608,039,685.00 | 0.00 | 193,638,576.00 | 0.00 | 1,516,139,709.00 | 4,781,488,839.00 | 0.00 | 86,910,862,425.00 |
| Add: Adjustment for change in accounting policy | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 533,906,114.00 | 4,805,155,025.00 | 0.00 | 5,339,061,139.00 |
| 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 | 34,798,398,763.00 | 0.00 | 8,013,156,853.00 | 0.00 | 37,608,039,685.00 | 0.00 | 193,638,576.00 | 0.00 | 2,050,045,823.00 | 9,586,643,864.00 | 0.00 | 92,249,923,564.00 |
| 3. Increase/ decrease in the period (“-” for decrease) | 0.00 | 0.00 | 6,184,847,697.00 | 0.00 | -330,758.00 | 0.00 | 206,469,234.00 | 0.00 | 0.00 | 45,514,918.00 | 0.00 | 6,436,501,091.00 |
| 3.1 Total comprehensive income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 206,469,234.00 | 0.00 | 0.00 | 958,415,496.00 | 0.00 | 1,164,884,730.00 |
| 3.2 Capital increased and reduced by owners | 0.00 | 0.00 | 5,967,915,094.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 5,967,915,094.00 |
| 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 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 5,967,915,094.00 |
| 3.2.3 Share-based payments included in 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 |
| 3.2.4 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 |
| 3.3 Profit distribution | 0.00 | 0.00 | 216,932,603.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -912,900,578.00 | 0.00 | -695,967,975.00 |
| 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 | 0.00 | 0.00 | 0.00 | 0.00 | -695,967,975.00 | 0.00 | -695,967,975.00 |
| 3.3.3 Other | 0.00 | 0.00 | 216,932,603.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -216,932,603.00 | 0.00 | 0.00 |
| 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 (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 comprehensive income 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 |
| 3.4.6 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 | -330,758.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -330,758.00 |
| 4. Balance as at the end of the Reporting Period | 34,798,398,763.00 | 0.00 | 14,198,004,550.00 | 0.00 | 37,607,708,927.00 | 0.00 | 400,107,810.00 | 0.00 | 2,050,045,823.00 | 9,632,158,782.00 | 0.00 | 98,686,424,655.00 |
III Company ProfileFounded in Beijing on 9 April 1993 and headquartered in the city, BOE Technology Group Co., Ltd. (hereinafter referred to as the“Company”) is a company limited by shares. Its parent and ultimate controller is Beijing Electronics Holding Co., Ltd. (“ElectronicsHolding”). The Company and its affiliated subsidiaries (hereinafter jointly referred to as the “Group”) are divided into five majorbusiness divisions, namely, display business, smart systems innovation business, smart medicine & engineering integration business,sensor and application solution business and MLED business. For information about the Company’s subsidiaries, see Part IV herein.For information about the Company’s subsidiaries, see Note IX.The consolidation scope for consolidated financial statements was determined based on control including the Company andsubsidiaries controlled by the Company.Information about subsidiaries was presented in Note IX.The increase and decrease of subsidiaries was listed in Note IX.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:
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1. Statement of Compliance with the Accounting Standards for Business Enterprises
The 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 2021, the consolidated results of operations and results ofoperations and the consolidated cash flows and cash flows in the first half year of 2021 of the Company.
2. Accounting period
The accounting year of the Group is from January 1
st
to December 31
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.
5. 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 isnot transitory. The assets and liabilities obtained are measured at the carrying amounts as recorded by the enterprise being combinedat the combination date. The difference between the carrying amount of the net assets obtained and the carrying amount ofconsideration paid for the combination (or the total face value of shares issued) is adjusted to share premium in the capital reserve. Ifthe balance of share premium is insufficient, any excess is adjusted to retained earnings. Other direct expenses occur when the Groupconducting business combinations is recognized in current profit and loss. The combination date is the date on which one combiningenterprise effectively obtains 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 (see Note III-17), while any excess of the acquirer’s interest in the fairvalue of the acquiree’s identifiable net assets over the cost of a business combination is recognized in profit or loss. The cost ofequity securities or liability securities as on combination consideration offering is recognized in initial recording capital on equitysecurities or liability securities. Other direct expenses occur when the Group conducting business combinations is recognized incurrent profit and loss. The difference between the fair value and the carrying amount of the assets given is recognized in profit orloss. The Group, at the acquisition date, recognized the acquiree’s identifiable asset, liabilities and contingent liabilities at their fairvalue at that date. The acquisition date is the 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 purchasedate with the difference between the fair value and its book value be recorded in the current investment income or othercomprehensive income. The other comprehensive income which could be reclassified in the gains and losses afterwards under themeasurement of the equity method and the changes of the equities of the other owners that involved with the afterwards equity of thepurchases held before the purchase date should be transferred in the current investment income (see Note III-11-(2)-(b)). When theequity in the acquiree held before the acquisition date is the investment in equity instrument at fair value through othercomprehensive income, the other comprehensive income recognized before the acquisition date shall be transferred into retainedearnings on the acquisition date.
6. 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 itssubsidiaries. The term “control” is the power of the Group upon an investee, with which it can take part in relevant activities of theinvestee to obtain variable returns and is able to influence the amount of returns. When judging whether the Group owns the right onthe investees or not, the Group only considers the substantive rights related to the investees (including the substantive rights enjoyedby the Group itself and by the other parties). The financial status, operating results and cash flow of subsidiaries are included in theconsolidated financial statements 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 inconsolidated income 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 thesame way 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 commoncontrol, the financial statements of the subsidiary are included in the consolidated financial statements based on book value in theconsolidated balance sheet of the subsidiary’s assets, liabilities and results of operations as if the combination had occurred at thedate that common control was established. Therefore the opening balances and the comparative figures of the consolidated financialstatements are restated.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 calculated
since the purchase date of the subsidiary of disposal investment are confirmed as other comprehensive income in consolidatedfinancial statements, which together transferred into the current profits and losses in the loss of control , when the Group losingcontrol on its subsidiary.
(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 theamount of the consideration paid or received is adjusted to the capital reserve (share premium) in the consolidated balance sheet. Ifthe credit balance of capital reserve (share premium) is insufficient, any excess is adjusted to retained earnings.
7. 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 theparticipant party enjoys assets and has to bear liabilities related to the arrangement. A joint venture refers to a joint arrangementwhere the participant party is only entitled to the net assets of the arrangement.The participant party should confirm the following items related to the interests portion among the jointly operation and execute theaccounting treatment according to the regulations of the relevant ASBE: recognizes the assets and liabilities that it holds and bears inthe joint operation, and recognizes the jointly-held assets and jointly-borne liabilities according to the Group’s stake in the jointoperation; recognizes the income from sale of the Group’s share in the output of the joint operation; recognizes the income from saleof the joint operation’s outputs according to the Group’s stake in it; and recognizes the expense solely incurred to the Group and theexpense incurred to the joint operation according to the Group’s stake in it.
8. 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.
9. 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 rateat the date of the receipt. Other foreign currency transactions are, on initial recognition, translated to Renminbi at the spot exchangerates at 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 foreigncurrency borrowings specifically for the purpose of acquisition, construction of qualifying assets. Non-monetary items denominatedin foreign currencies that are measured at historical cost are translated to Renminbi using the foreign exchange rate at the transactiondate. Non-monetary items denominated in foreign currencies that are measured at fair value are translated using the foreign exchangerate at the date the fair value is determined; the exchange differences, if it’s the difference arising from the non-monetary item ofnon-transactional equity investments designated to be measured at fair value and changes thereof recorded into other comprehensiveincome, it shall be considered 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. Theequity items, 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.
10. Financial instruments
(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 (unless it is a trade receivable without a significant financing component) and financial liabilities is measuredinitially at fair value. For financial assets and financial liabilities at fair value through profit or loss, any related directly attributabletransaction costs are charged to profit or loss; for other categories of financial assets and financial liabilities, any related directlyattributable transaction costs are included in their initial costs. A trade receivable without a significant financing component isinitially measured at the transaction price according to Accounting Standards for Business Enterprises 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 itscontractual cash flow characteristics. On initial recognition, a financial asset is classified as measured at amortised cost, at fair valuethrough other comprehensive 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 principalamount outstanding.
11. Notes Receivable
The Company will always measure the provision for notes receivable whether including major financing components or not based onthe amount similar to that of expected credit losses for the whole existence period and the amount increased or reversed ofimpairment for losses generated shall be recorded into the current profit or loss as gains or losses of impairment.
Note: The method of determining the expected credit loss of notes receivable and the accounting treatment are described, includingthe method of assessing whether the credit risk has increased considerably since the initial recognition, and the combination methodof assessing the expected credit based on the combination.
12. Accounts Receivable
The recognition standard and withdrawal method of bad debt provision for accounts receivable of the Company since 2019 are asfollows:
For accounts receivable, the Group measures the loss provision by the amount that is equivalent to the expected credit loss of the
entire duration. The Group uses preparation matrix to calculate the expected credit loss of the financial assets aforementioned basedon historical experience of credit losses. Relevant historical experience is based on particular factors of the borrowers on the balancesheet date, and adjustment will be made to the current status and the estimation of the future economic status.The expected credit loss is calculated with the overdue days and the loss given default comparison table as the basis. According tothe historical experience of the Group, different loss models apply to different segments of customer groups.
Note: the method of determining the expected credit loss of accounts receivable and the accounting treatment are described,including the method of assessing whether the credit risk has increased considerably since the initial recognition, and thecombination method of assessing the expected credit based on the combination.The Company shall comply with the disclosure requirements of the Guidelines No. 10 of Shenzhen Stock Exchange on IndustryInformation Disclosure -- Listed Companies Engaging in Business Related to Explosives for Civil Uses.Note: according to different business models, the recognition of receivables, credit policy and bad debt provision policy are disclosedin detail.The Company shall comply with the disclosure requirements of the Guidelines No. 6 of Shenzhen Stock Exchange on IndustryInformation Disclosure -- Listed Companies Engaging in Home Furnishing and Decoration Business.Note: according to different business models, the recognition of receivables, payment collection conditions and bad debt provisionpolicy are disclosed in detail.The Company shall comply with the disclosure requirements of the Guidelines No. 7 of Shenzhen Stock Exchange on IndustryInformation Disclosure -- Listed Companies Engaging in Civil Engineering Construction Business.Note: according to different business models, the recognition of receivables, payment collection conditions and bad debt provisionpolicy are disclosed in detail.
13. Accounts Receivable Financing
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14. Other Receivables
The recognition method and accounting treatment of expected credit losses of other receivablesThe recognition method and accounting treatment of expected credit losses of other receivablesSee Note V. 10 Financial Instruments for details
15. 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 andfinished goods 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.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.
(3) 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 productionof inventories is measured based on the net realizable value of the finished goods in which they will be incorporated. The netrealizable value of the quantity of inventory held to satisfy sales or service contracts is based on the contract price. If the quantities ofinventories specified in sales contracts are less than the quantities held by the Group, the net realizable value of the excess portion ofinventories shall 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 thevalue of inventories, and then recorded into current profit or loss.
(4) Inventory system for inventories
The Group maintains a perpetual inventory system.
16. Contract Assets
Contract assets refer to the right that the Group has to charge consideration from customers due to the transfer of commodities tothem, and the right depends on other factors than time lapse. If the Group sells two highly distinguishable commodities to a customer,and has the right to receive payment due to the delivery of one of the commodities, but with the collection of the payment dependingon the delivery of the other, the Group will treat this right of payment as a contract asset.See Note V. 10 Financial Instruments for details
17. Contract Costs
Contract costs are either the incremental costs of obtaining a contract with a customer or the costs to fulfill 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 recognizes as an asset the incremental costs of obtaining a contractwith a customer if it expects to recover those costs. Other costs of obtaining a contract are expensed when incurred. Incremental costsincurred as the Group obtains a contract refer to those costs which will not incur without entering into a contract.If the costs to fulfill a contract with a customer are not within the scope of inventories or other accounting standards, the Grouprecognizes an asset from the costs incurred to fulfill 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 labor, directmaterials, allocations of overheads (or similar costs), costs that are explicitly chargeable to the customer and other costs that areincurred only because the Group entered into the contract;the costs enhance resources of the Group that will be used in satisfying performance obligations in the future;the costs are expected to be recovered.Assets recognized for the incremental costs of obtaining a contract and assets recognized for the costs to fulfill a contract (the "assetsrelated to contract costs") are amortized on a systematic basis that is consistent with the transfer to the customer of the goods orservices to which the assets relate and recognized in profit or loss for the current period.The Group recognizes 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 asset relates;the costs that relate directly to providing those goods or services that have not yet been recognized as expenses.
18. Assets Held for Sale
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.When the non-current assets be divided as assets held for sale (excluding financial assets), the Group measures the non-current assetsheld for sale, deferred income tax assets and the investment properties be follow-up measured by the fair value mode according to thelower one between the book value and the fair value after deducting the net amount of the disposal expenses, while the deference thatthe book value higher than the fair value which deducted the disposal expenses should be recognized as the impairment losses of theassets.The fixed assets and intangible assets be divided as assets held for sale and the investment properties be follow-up measured by thecost mode would not be withdrawn, depreciated or amortized, while the long-term equity investment be divided as assets held forsale that measured by equity method should cease the equity method measurement.
19. Investments in Debt Obligations
See Note V. 10 Financial Instruments for details
20. Other Investments in Debt Obligations
See Note V. 10 Financial Instruments for details
21. Long-term Receivables
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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 thesame control that realized step by step of the multiple transaction not belong to package deal, the Company would adjust the capitalstock premium among the capital surplus according to the difference between the initial investment cost of the long-term equityinvestment recognized according to the above principles and the sum of the book value of the long-term equity investment beforereaching the merger and the book value of the newly paid consideration which be further received on the merger date, and if thebalance of the share premium 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 investmentobtained through a business combination involving entities not under common control by two or more transactions and by severalsteps, the initial investment cost is recognized as the aggregation of the carrying value of acquirees’ equity investment before theacquisition date held 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 isacquired by 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 asthe 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-31. 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-6. 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 enjoythe rights 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 theequity investment difference is amortized using the straight-line method over a period which is determined in accordance withprevious accounting standards. Once the investee declares any cash dividends or profits distributions, the carrying amount of theinvestment is reduced by that attributable to the Group. As for the other changes of the owners’ equities except for the net gains andlosses, other comprehensive income and profits distribution of the joint ventures or associated enterprises (hereinafter referred to as“changes of other owners’ equities”), the Group included which in the shareholders’ equities according to the portion ought to beenjoyed 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 fromtransactions between the Group and its associates or jointly controlled enterprises are eliminated to the extent of the Group’s interestin the associates or jointly controlled enterprises. Unrealized losses resulting from transactions between the Group and its associatesor jointly controlled enterprises are eliminated in the same way as unrealized gains but only to the extent that there is no evidence ofimpairment.– The Group discontinues recognizing its share of net losses of the investee after the carrying amount of the long-term equityinvestment and any long-term interest that in substance forms part of the Group’s net investment in the associate or the jointlycontrolled enterprise is reduced to zero, except to the extent that the Group has an obligation to assume additional losses. Where netprofits are subsequently made by the associate or jointly controlled enterprise, the Group resumes recognizing its share of thoseprofits only after its share of the 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-31. 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 orjoint control 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 throughdeducting the predicted net residual value and the accumulated provision reserves from the costs, unless the investment real estatecould meet corresponding held-for-sale conditions.
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 toothers or for operation and administrative purposes with useful lives over one year. The cost of a purchased fixed asset comprises thepurchase price, related taxes, and any directly attributable expenditure for bringing the 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 theGroup in different patterns thus necessitating use of different depreciation rates or methods, each part is recognized as a separatefixed asset. The subsequent costs, including the cost of replacing part of an item of fixed assets, are recorded into fixed asset costwhen the economic interests 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 balancesheet at cost less accumulated depreciation and impairment losses.
(2) Depreciation Methods
| Category of fixed assets | Depreciation method | Depreciable life | Residual value rate (%) | Yearly depreciation |
| Workshops 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% |
(3) Recognition Basis, Pricing and Depreciation Method of Fixed Assets by Finance Lease
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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, 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.
26. Borrowing Costs
Borrowing costs incurred directly attributable to the acquisition and construction of a qualifying asset are capitalized as part of thecost of 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 becapitalised is the interest expense calculated using effective interest rates during the period less any interest income earned fromdepositing the borrowed 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
denominated in foreign currency are capitalised as part of the cost of the qualifying asset. The exchange differences related to theprincipal and interest on foreign currency borrowings other than a specific-purpose borrowing are recognised as a financial expensewhen 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
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28. Oil and Gas Assets
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29. Right-of-Use Assets
The term "right-of-use assets" refers to the right of the Group as the lessee to use the leased assets during the lease term
(1) Initial measurement
After the commencement date of the lease term, the Group uses the cost for subsequent measurement of right-of-use assets. The costincludes:
Initial measurement amount of lease obligation;Lease payments made on or before the lease inception date (if a lease incentive exists, deduct the amount related to the leaseincentive already taken);The initial direct costs incurred, i.e., the incremental costs incurred to achieve the lease;costs expected to be incurred by the Group for dismantling and removing the leased asset(s), restoring the premises where the leasedasset(s) is/are located, or restoring the leased asset(s) to the status agreed in the leasing clauses (except for costs incurred forinventory production).
(2) Follow-up measurement
After the commencement date of the lease term, the Group uses the cost model for subsequent measurement of right-of-use assets.Depreciation of right-of-use assetsThe Group depreciates the right-of-use assets in accordance with relevant depreciation provisions of the Accounting Standards forBusiness Enterprises No. 4 - Fixed Assets.Impairment of right-of-use assetsThe Group will determine the impairment of the right-of-use assets and conduct accounting treatment of the impairment lossesalready identified in accordance with relevant provisions of the Accounting Standards for Business Enterprises No. 8 - AssetImpairment.
30. Intangible Assets
(1) Pricing Method, Useful life and Impairment test
(a) Pricing method of intangible assetsIntangible assets are stated in the balance sheet at cost less accumulated amortization (where the estimated useful life is finite) andimpairment losses. For an intangible asset with finite useful life, its cost less residual value and impairment losses are amortized onthe straight-line method over its estimated useful life, unless the intangible assets are classified as held for sale.(b) Estimated useful life of intangible assets with limited useful lifeAs 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 respective amortisation periods for intangible assets are as follows:
| Item | Amortisation period (years) |
| Land use rights | 20 - 50 years |
| Patent and proprietary technology | 5 - 20years |
| Computer software | 3 - 10years |
| Others | 5 - 20years |
(c) Judgment basis of intangible assets with uncertain useful lifeAn intangible asset is regarded as having an indefinite useful life and is not amortized when there is no foreseeable limit to the periodover which the asset is expected to generate economic benefits for the Group. At the balance sheet date, the Group doesn’t have anyintangible assets with indefinite useful lives.(d) Withdrawal of impairment provision of intangible assetsIf any indication exists that an asset may be impaired, the recoverable amount of the asset is estimated. The recoverable amount of anasset, asset group or set of asset groups is the higher of its fair value less costs to sell and its present value of expected future cashflows. An asset group is the smallest identifiable group of assets that generates cash inflows that are largely independent of the cashinflows from other assets or asset groups. An asset group is composed of assets directly relating to cash-generation. Identification ofan asset group is based on whether major cash inflows generated by the asset group are largely independent of the cash inflows fromother assets or asset groups. In identifying an asset group, the Group also considers how management monitors the Group’soperations and how management makes decisions about continuing or disposing of the Group’s assets. An asset’s fair value less coststo sell is the amount determined by the price of a sale agreement in an arm’s length transaction, less the costs that are directlyattributable to the disposal of the asset. The present value of expected future cash flows of an asset is determined by discountingfuture cash flows, estimated to be derived from continuing use of the asset and from its ultimate disposal, to their present value usinga pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset.If the result of the recoverable amount calculation indicates that the recoverable amount of an asset is less than its carrying amount,the carrying amount of the asset is reduced to its recoverable amount. That reduction is recognized as an impairment loss and chargedto profit or loss for the current period. A provision for impairment loss of the asset is recognized accordingly. For impairment lossesrelated to an asset group or a set of asset groups, first reduce the carrying amount of any goodwill allocated to the asset group or setof asset groups, and then reduce the carrying amount of the other assets in the asset group or set of asset groups on a pro rata basis.However, the carrying amount of an impaired asset will not be reduced below the highest of its individual fair value less costs to sell(if determinable), the present value of expected future cash flows (if determinable) and zero.
Once an impairment loss is recognized, it is not reserved in a subsequent period.Note: the valuation method of intangible assets shall be described. For intangible assets with limited service life, the estimatedservice life shall be described. Where the service life of intangible assets cannot be determined, the judgment basis of its service lifeuncertainty and the procedures for rechecking its service life shall be described.
Note: the valuation method of intangible assets shall be described. For intangible assets with limited service life, the estimatedservice life shall be described. Where the service life of intangible assets cannot be determined, the judgment basis of its service lifeuncertainty and the procedures for rechecking its service life shall be described.
(2) Accounting Policies of Internal R & D Expenses
(a) Criteria of dividing the research phase and development phase of internal R&D projectResearch is original and planned investigation undertaken with the prospect of gaining new scientific or technical knowledge andunderstanding. Development is the application of research findings or other knowledge to a plan or design for the production of newor substantially improved materials, devices, or products before the start of commercial production or use.(b) Calculation of the expenditures of internal R&D projectExpenditures of internal R&D project of the Group divides into expenditures on the research phase and expenditures on thedevelopment phase.Expenditures on the research phase are recognized in profit or loss when incurred. Expenditures on the development phase arecapitalized if development costs can be measured reliably, the product or process is technically and commercially feasible, and theGroup intends to and has sufficient resources to complete development. Capitalized development costs are stated at cost lessimpairment losses in the balance sheet. Other development expenditures are recognized as expenses in the period in which they areincurred.Note: Based on the characteristics of the Company's internal R&D projects, the specific criteria for dividing the research stage anddevelopment stage, as well as the specific conditions for capitalization of the expenditure in the development stage shall bedescribed.The Company shall comply with the disclosure requirements of the Guidelines No. 4 of Shenzhen Stock Exchange on IndustryInformation Disclosure -- Listed Companies Engaging in Seed Industry and Planting Business.Note: companies adopting different R&D modes shall disclose their R&D expenditure accounting policies according to thecharacteristics of different R&D activities. For example, for overall R&D activities such as the building of scientific research systemand breakthrough varieties, as well as the specific R&D activities for the research of varieties in segment markets, the criteria fordividing the research stage and the development stage and the specific conditions for capitalization of the expenditure in thedevelopment stage shall be disclosed respectively.
31. Impairment of Long-term Assets
The Group executes the impairment test on the assets with impairment indication and evaluates the recoverable amount of the assets.Besides, whether there is impairment indication, the Group will evaluate the recoverable amount of the goodwill at the year-end. TheGroup will amortize the book value of the good according to the benefit situation in the synergistic effect from the enterprise mergerby the relevant assets group or the combination of the assets group and based on which executes the impairment test of the goodwill.The recoverable amount of an asset, asset group or 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 the smallest identifiable group of assets that generates cash inflows that arelargely independent of the cash inflows from other assets or asset groups. Fair value refers to the price received from selling an asset
or paid for transferring a liability in the orderly transaction on the measurement date by the market participants. When the Groupevaluating the fair value, should consider the characteristics when executing pricing of the relevant assets or liabilities on themeasurement date of the market participants (including the assets conditions and the location, the restrictions of the sales or use ofthe assets and so on) as well as adopt the evaluation technology that applicable under the current circumstance and owns adequateavailable data and supported by other information. The evaluation technology used mainly including the market method, equitymethod and cost method.An asset group is the smallest identifiable group of assets that generates cash inflows that are largely independent of the cash inflowsfrom other assets or asset groups. An asset group is composed of assets directly relating to cash-generation. Identification of an assetgroup is based on whether major cash inflows generated by the asset group are largely independent of the cash inflows from otherassets or asset groups. In identifying an asset group, the Group also considers how management monitors the Group’s operations andhow management makes decisions about continuing or disposing of the Group’s assets.The present value of expected future cash flows of an asset is determined by discounting future cash flows, estimated to be derivedfrom continuing use of the asset and from its ultimate disposal, to their present value using a pre-tax discount rate that reflects currentmarket assessments of the time value of money and the risks specific to the asset.If the result of the recoverable amount calculation indicates that the recoverable amount of an asset is less than its carrying amount,the carrying amount of the asset is reduced to its recoverable amount. That reduction is recognized as an impairment loss and chargedto profit or loss for the current period. A provision for impairment loss of the asset is recognized accordingly. For impairment lossesrelated to an asset group or a set of asset groups, first reduce the carrying amount of any goodwill allocated to the asset group or setof asset groups, and then reduce the carrying amount of the other assets in the asset group or set of asset groups on a pro rata basis.However, the carrying amount of an impaired asset will not be reduced below the highest of its individual fair value less costs to sell(if determinable), the present value of expected future cash flows (if determinable) and zero.Once an impairment loss is recognized, it is not reserved in a subsequent period.
32. Long-term Deferred Expenses
Long-term deferred expenses are amortized on a straight-line method within the benefit period:
| Item | Amortization period (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 |
33. Contract Liabilities
Contract liabilities refer to the Company’s obligations in transferring commodities or services to the client for the received orpredicted consideration. Contract assets and contract liabilities under the same contract shall be presented based on the net amount.
34. 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 workerwages, bonuses and the social insurance charges such as the medical insurance premiums, industrial injury insurance premium andbirth insurance premium according to the specified benchmark and proportion as well as the housing funds as the liabilities and
records which in the current gains and losses or the relevant asset costs.
(2) Accounting Treatment of the Welfare after Demission
The 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 Companyrecognizes the deposited amount as the liabilities and records in the current gains and losses or the relevant asset costs.
(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 thedemission welfare 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 welfare of other long-term staffs refers to the all the employees compensation except for the short-term compensation, welfareafter demission and demission welfare, which including the long-term compensated absences, long-term sociability benefits andlong-term profit sharing plan and so on. The Group not involved with any other long-term employee's welfare.
35. Lease Liabilities
(1) Initial measurement
The Group initially measures the lease obligation at the present value of the lease payments outstanding at the commencement date ofthe lease term.
1) Lease payments
The term "lease payments" refers to the payments made by the Group to the lessor in terms of the use of the leased asset(s) within thelease term, including:
a) fixed lease payments and substantial fixed lease payments (if a lease incentive exists, deduct the amount related to the leaseincentive);b) the variable lease payments that depend on indexation or ratio, which are determined according to the indexation or ratio on thecommencement date of the lease term in the initial measurement;c) the exercise price of the purchase option, when applicable, if the Group is reasonably certain that the option will be exercised;d) payments required to be made for exercising the option to terminate the lease if the lease term reflects that the Group will exercisesuch an option;e) payments estimated to be made in line with the secured residual value provided by the Group.
2) Rate of discount
When calculating the present value of the lease payments, the Group uses the interest rate implicit in lease as the rate of discount,which is the interest rate at which the sum of the present value of the lessor's lease receipts and the present value of the unsecuredresidual value equals the sum of the fair value of the leased asset and the lessor's initial direct expenses. If the Group fails todetermine the interest rate implicit in lease, the incremental interest rate on borrowing will be used as the rate of discount. Theincremental interest rate on borrowing shall mean the interest rate payable by the Group to borrow funds under similar mortgageconditions during similar periods to acquire assets close to the value of the right-of-use assets under similar economic circumstances.
(2) Follow-up measurement
The Group calculates the interest expenses of the lease obligations during each period of the lease term at a fixed periodic interestrate, and includes them (Where the Accounting Standards for Business Enterprises No. 17 - Borrowing Costs and other standardsprovide that such interest expenses shall be included in the cost of related assets, such provisions shall be observed.) in profit or lossfor the current period. Periodic interest rate refers to the rate of discount used by the Group for the initial measurement of leaseobligations, or the revised rate of discount used by the Group for the remeasurement of lease obligations due to a change in leasepayments or a change in the lease.
(3) Remeasurement
After the commencement date of the lease, if any of the following circumstances occurs, the Group will redetermine the leasepayment and remeasure the lease obligation using the present value of the changed lease payment and the revised rate of discount;
① there is a change in real fixed payment；
② there is a change in the amounts expected to be payable under a residual value guarantee；
③ there is a change in future lease payments resulting from a change in an index or a rate used to determine those payments；
④ there is a change in the assessment or the fact of an option to purchase、renewal and termination the underlying asset .
36. Provisions
A provision is recognized for an obligation related to a contingency if the Group has a present obligation that can be estimatedreliably, 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 estimatedliabilities should be confirmed according to the amount after the discount of the estimated future cash flow. When recognizing thebest estimated number, the Group comprehensively considers the factors such as the risks, uncertainty and the time value of moneyrelated to the contingencies. There is a contiguous range of the needed expenses and the possibility of various results within the rangeis the same and the best estimated number should be recognized according to the mediant within the range; under other circumstance,the best estimated 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 andthe relevant 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.
37. Share-based Payment
The Group conducts accounting treatment in accordance with relevant provisions of the Accounting Standards for BusinessEnterprises No. 11 - Share-based Payment and the application guide.
Share-based payment is a transaction in which an enterprise grants equity instruments or takes liabilities based on equity instrumentsin order to obtain services provided by employees and other parties.Share-based payments include equity-settled share-based payment and cash-settled share-based payment.If an equity-settled share-based payment is adopted for services provided by employees, it shall be measured at the fair value of theequity instrument granted to employees.Cash-settled share-based payment shall be measured at the fair value of liabilities calculated and determined on the basis of shares orother equity instruments undertaken by the enterprise.The Group makes corresponding accounting treatment according to the implementation schedule of the equity incentive plan.
(1) Grant date
For an equity-settled share-based payment, if the right can be exercised immediately after the grant, the fair value of the equityinstruments shall, on the grant date, be included in the relevant costs or expenses and the capital reserves shall be increasedaccordingly.For a cash-settled share-based payment, if the right can be exercised immediately after the grant, the fair value of the obligationsborne by the Company shall, on the grant date, be included in the relevant costs or expenses and the obligations shall be increasedaccordingly.Neither equity-settled share-based payments nor cash-settled share-based payments, except for share-based payments which can beexercised immediately, undergo accounting treatment on the grant date.
(2) Each balance sheet date in the vesting period
Vesting period refers to the period during which the vesting conditions are satisfied.For share-based payments subject to the prescribed period of service, the vesting period is the period from the grant date to thevesting date. For share-based payments subject to prescribed performance, the length of the vesting period is estimated at the grantdate based on the most likely performance results.For a share-based payment, if the right cannot be exercised until the vesting period ends or until the prescribed performanceconditions are met, on each balance sheet date within the vesting period, the services acquired in the current period shall, based onthe best estimate of the information about the exercisable right and at the fair value of the equity instrument on the grant date forequity-settled share-based payments, be included in the costs or expenses and the corresponding obligations. For a cash-settledshare-based payment, the services acquired in the current period shall be included in the costs or expenses and the correspondingobligations at the fair value of the obligations borne by the enterprise.
(3) Vesting date
Vesting date refers to the date on which the vesting conditions are satisfied and the employees and other parties have the right toacquire equity instruments or cash from the enterprise.Vesting date refers to the date on which employees and other parties exercise their rights and acquire cash or equity instruments.For an equity-settled share-based payment, no adjustment will be made to the related costs or expenses recognized and to the totalowner's equity after the vesting date. On the vesting date, share capital or treasury stock and share premium shall be recognized basedon the exercise situation, and capital reserves recognized during the vesting period shall be carried forward.For cash-settled share-based payments, the enterprise shall re-measure the fair value of the obligations on each balance sheet date andsettlement date after the vesting date and before the settlement of the relevant obligations, and the changes shall be included in theprofit and loss of the current period. On the vesting date, the recognized obligations shall be carried forward at the time of settlementaccording to the exercise.
38. Other Financial Instruments such as Preferred Shares and Perpetual BondsRefer to V.-10. Financial Instruments for details.
39. Revenue
Accounting policies for recognition and measurement of revenueRevenue 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 inceptionof the distinct good or service underlying each performance obligation in the contract and allocates the transaction price in proportionto those 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 serviceseparately to a customer. If a stand-alone selling price is not directly observable, the Group considers all information that isreasonably 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,discount coupons for future purchase, etc.,), the Group assesses whether the option provides a material right to the customer. If theoption provides a material right, the Group recognises the option as a performance obligation, and recognises revenue when thosefuture goods or services are transferred or when the option expires. If the stand-alone selling price for a customer’s option to acquireadditional goods or services is not directly observable, the Group estimates it, taking into account all relevant information, includingthe difference in the discount that the customer would receive when exercising the option or without exercising the option, and thelikelihood that the option will be exercised.
For the contract with a warranty, the Group analyses the nature of the warranty provided, if the warranty provides the customer witha distinct 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 atfair value. 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 anamount that reflects the price that a customer would have paid for the promised goods or services if the customer had paid cash forthose goods or services when (or as) they transfer to the customer. The difference between the amount of promised consideration andthe cash selling price is amortised using an effective interest method over the contract term. The Group does not adjust the
consideration for any effects of a significant financing component if it expects, at contract inception, that the period between whenthe Group transfers a promised good or service to a customer and when the customer pays for that good or service will be one year orless.
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 topayment for 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 customerobtains control of relevant goods or services. To determine whether a customer has obtained control of goods or services, the Groupconsiders the 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 thecustomer; 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 beforethat good or service is transferred to a customer, and recognises revenue in the gross amount of consideration to which it has received(or receivable). Otherwise, the Group is an agent, and recognises revenue in the amount of any fee or commission to which it expectsto be entitled. The fee or commission is the net amount of consideration that the Group retains after paying the other party theconsideration, 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 propertyonly when (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 Note III.9(6)). Accounts receivable is the Group’s right to consideration that is unconditional (only the passage oftime is required). A contract liability is the Group’s obligation to transfer goods or services to a customer for which the Group hasreceived consideration (or an amount of consideration is due) from the customer.
The 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 thetrading terms, customers obtain control of the goods when the goods are delivered and received, or when they are received by thecarrier. 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 theamount expected to be returned, which are estimated based on the historical data. The Group recognises a refund liability based onthe amount expected to be returned. An asset is initially measured by reference to the former carrying amount of the product expectedto be returned less any expected costs to recover those products (including potential decreases in the value to the Group of returnedproducts). At each balance sheet date, the Group updates the measurement of the refund liability for changes in expectations aboutthe amount of funds. 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 atwhich the customer obtains control of relevant services.
Note: accounting policies used in revenue recognition and measurement, and judgments and changes in judgments that materiallyaffect the determination of the point and amount of revenue recognition include the method for determining the performance progressand the reasons for adopting the method, the judgment relating to the point at which the customer acquires control of the transferredcommodity, the methods for determining the transaction price, estimating the variable consideration included in the transaction price,apportioning transaction price, and measuring similar obligations such as the funds expected to be returned to the customer.Differences in accounting policies for the recognition of revenue caused by different business models for the same type of businessNaughtNote: if there are differences in revenue recognition accounting policies for similar businesses due to different business models, theyshall be disclosed separately.
40. 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 agovernment grant 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,
construct or 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 theCompany.With respect to the government grants related to assets, if the Group first obtains government grants related to assets and thenrecognizes the long-term assets purchased and constructed, deferred income is included in profit and loss based on a reasonable andsystematic approach by stages when related assets are initially depreciated or amortized; or the deferred income is written off againstthe carrying amount of the asset when the asset becomes ready for its intended status or intended use. If the Group obtainsgovernment grants related to the assets after relevant long-term assets are put into use, deferred income is included in profit and lossbased on a reasonable and systematic approach by stages within the remaining useful life of relevant assets, or the deferred income iswritten off against the carrying amount of relevant asset when the grants are obtained; the assets shall be depreciated or amortizedbased on the carrying amount 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 futureperiod, it shall be recognized as deferred income, and included in profit and loss or used to offset related costs; otherwise it shall bedirectly included 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 asthe entry value and relevant borrowing costs are calculated on the basis of the loan principal and the preferential interest rate. If theinterest subsidy is directly appropriated to the Group, relevant borrowing costs shall be offset by corresponding interest subsidy. Ifborrowing costs 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 isasset-related or income-related shall be described. Whether government subsidies adopt the gross method or the net method shall bedisclosed. If the gross method is adopted, the amortization method of deferred income related to government subsidies and therecognition method of the amortization period shall also be disclosed. The time when government subsidies are confirmed shall bedisclosed.
41. Deferred Income Tax Assets/Deferred Income Tax Liabilities
(1) Recognition basis of deferred income tax assets
The Group uses the balance sheet liability method to calculate its income tax, which is recognized in accordance with a differencebetween the carrying amount of an asset or liability and its tax base (temporary difference). For any deductible loss that can becarried forward to the next year to deduct the income tax according to the stipulations of tax law, relevant deferred income tax assetsshall be recognized. The deferred income tax asset shall be determined to the extent that the amount of taxable income to be offset bythe deductible loss or tax deduction to be likely obtained. For the deductible temporary difference relating to the investments of thesubsidiary companies, associated enterprises and joint enterprises, the enterprise shall recognize the corresponding deferred incometax assets for those that meet the following requirements: the temporary differences are likely to be reversed in the expected future;and it is likely to acquire any amount of taxable income that may be used for deducting the deductible temporary differences.
(2) Recognition basis of deferred income tax liabilities
The Group uses the balance sheet liability method to calculate its income tax, which is recognized in accordance with a differencebetween the carrying amount of an asset or liability and its tax base (temporary difference). As for the temporary difference from the
initial recognition of goodwill, no deferred income tax liabilities shall be recognized. The taxable temporary differences relating to theinvestments of subsidiary companies, associated enterprises and joint enterprises shall recognized as corresponding deferred incometax liabilities, however, excluding those that simultaneously satisfy the following conditions: the investing enterprise can control thetime of the reverse of temporary differences; and the temporary differences are unlikely to reverse in the excepted future.
42. Lease
(1) Accounting Treatment of Operating Lease
1. Lessee
The Group shall, when as the lessee, on the commencement date of the lease term, recognize the right-of-use assets and leaseobligations for the lease, unless it is a simplified short-term lease or low-value asset lease.After the commencement date of the lease term, the Group uses the cost model for subsequent measurement of right-of-use assets. TheGroup depreciates the right-of-use assets in accordance with relevant depreciation provisions of the Accounting Standards for BusinessEnterprises No. 4 - Fixed Assets. If the lessee can reasonably ascertain that the ownership of the leasehold property will be obtained atthe end of the lease term, it shall depreciate the leasehold property over its remaining service life. If it is not reasonably certain that theownership of the leasehold property will be obtained at the end of the lease term, it shall depreciate the leased asset(s) over the leaseterm or the remaining service life, whichever is shorter. The Group will determine the impairment of the right-of-use assets and conductaccounting treatment of the impairment losses already identified in accordance with relevant provisions of the Accounting Standardsfor Business Enterprises No. 8 - Asset Impairment.The Group calculates the interest expenses of the lease obligations during each period of the lease term at a fixed periodic interest rate,and includes them in profit or loss for the current period. Where the Accounting Standards for Business Enterprises No. 17 - BorrowingCosts and other standards provide that such interest expenses shall be included in the cost of related assets, such provisions shall beobserved. For short-term leases and low-value asset leases which the group choose simplify accounting treatment,in each period withinthe lease term, the relevant lease payments are included in cost of the related assets or profit or loss for the current period on astraight-line basis or other reasonable methods.
2. Lessor
In the case of the Group is the lessor, it recognizes the receipts of the operating lease incurred during each period of the lease term asrentals by the straight-line method or other reasonable methods. The Group capitalizes the initial direct costs related to the operatinglease upon incurrence thereof and, within the lease term, apportions and includes such costs in the current profit or loss on the basissame as the recognition of rentals.For the fixed assets in the assets under operating lease, the Group shall adopt the depreciation policy of similar assets to calculate anddistill depreciation. For other assets under operating lease, the Group shall amortize them in a systematic and reasonable manner inaccordance with the accounting standards for enterprises applicable to the assets. The Group will determine the impairment of assetsunder operating lease and conduct accounting treatment in accordance with relevant provisions of the Accounting Standards forBusiness Enterprises No. 8 - Asset Impairment.
(2) Accounting Treatments of Financial Lease
1. Lessee
The Group shall, when as the lessee, on the commencement date of the lease term, recognize the right-of-use assets and leaseobligations for the lease, unless it is a simplified short-term lease or low-value asset lease.
After the commencement date of the lease term, the Group uses the cost model for subsequent measurement of right-of-use assets. TheGroup depreciates the right-of-use assets in accordance with relevant depreciation provisions of the Accounting Standards for BusinessEnterprises No. 4 - Fixed Assets. If the lessee can reasonably ascertain that the ownership of the leasehold property will be obtained atthe end of the lease term, it shall depreciate the leasehold property over its remaining service life. If it is not reasonably certain that theownership of the leasehold property will be obtained at the end of the lease term, it shall depreciate the leased asset(s) over the leaseterm or the remaining service life, whichever is shorter. The Group will determine the impairment of the right-of-use assets and conductaccounting treatment of the impairment losses already identified in accordance with relevant provisions of the Accounting Standardsfor Business Enterprises No. 8 - Asset Impairment.The Group calculates the interest expenses of the lease obligations during each period of the lease term at a fixed periodic interest rate,and includes them in profit or loss for the current period. Where the Accounting Standards for Business Enterprises No. 17 - BorrowingCosts and other standards provide that such interest expenses shall be included in the cost of related assets, such provisions shall beobserved. For short-term leases and low-value asset leases which the group choose simplify accounting treatment,in each period withinthe lease term, the relevant lease payments are included in cost of the related assets or profit or loss for the current period on astraight-line basis or other reasonable methods.
2. Lessor
The Group shall, when as the lessor, on the commencement date of the lease term, recognize the finance lease receivables for thefinance lease and derecognize the leased asset(s) of the finance lease. The Group shall also calculate and confirm the interest income ata fixed periodic interest rate in each period in the lease term.
43. Other Significant Accounting Policies and Estimates
Naught
44. Changes in Significant Accounting Policies and Estimates
(1) Changes in Significant Accounting Policies
√ Applicable □ Not applicable
| Contents of changes in accounting policies and reasons thereof | Approval procedures | Note |
| The Ministry of Finance issued the revised Accounting Standards for Business Enterprises No.21-Leases (hereinafter referred to as the “New Standards governing Leases”) on 7 December 2018. | Reviewed and approved by the Board of Directors and the Executive Committee | The Accounting Standards for Business Enterprises No.21-Leases did not cause any significant influence on the financial status and operating results of the Company. |
(2) Changes in Accounting Estimates
□ Applicable √ Not applicable
(3) Adjustments to the Financial Statements at the Beginning of the First Execution Year of any NewStandards Governing Leases since 2021ApplicableItems of balance sheets at the beginning of the year need to be adjusted or not
√ Yes □ No
Consolidated Balance Sheet
Unit: RMB
| Item | 31 December 2020 | 1 January 2021 | Adjusted |
| Current assets: | |||
| Monetary assets | 73,694,296,095.00 | 73,694,296,095.00 | 0.00 |
| Settlement reserve | 0.00 | 0.00 | 0.00 |
| Interbank loans granted | 0.00 | 0.00 | 0.00 |
| Held-for-trading financial assets | 4,367,201,833.00 | 4,367,201,833.00 | 0.00 |
| Derivative financial assets | 0.00 | 0.00 | 0.00 |
| Notes receivable | 215,994,373.00 | 215,994,373.00 | 0.00 |
| Accounts receivable | 22,969,140,355.00 | 22,969,140,355.00 | 0.00 |
| Accounts receivable financing | 0.00 | 0.00 | 0.00 |
| Prepayments | 1,119,595,984.00 | 1,111,189,292.00 | -8,406,692.00 |
| Premiums receivable | 0.00 | 0.00 | 0.00 |
| Reinsurance receivables | 0.00 | 0.00 | 0.00 |
| Receivable reinsurance contract reserve | 0.00 | 0.00 | 0.00 |
| Other receivables | 658,114,833.00 | 658,114,833.00 | 0.00 |
| Including: Interest receivable | 2,037,452.00 | 2,037,452.00 | 0.00 |
| Dividends receivable | 1,842,137.00 | 1,842,137.00 | 0.00 |
| Financial assets purchased under resale agreements | 0.00 | 0.00 | 0.00 |
| Inventories | 17,875,454,490.00 | 17,875,454,490.00 | 0.00 |
| Contract assets | 49,897,395.00 | 49,897,395.00 | 0.00 |
| Assets held for sale | 186,892,645.00 | 186,892,645.00 | 0.00 |
| Current portion of non-current assets | 0.00 | 0.00 | 0.00 |
| Other current assets | 7,848,869,252.00 | 7,848,869,252.00 | 0.00 |
| Total current assets | 128,985,457,255.00 | 128,977,050,563.00 | -8,406,692.00 |
| Non-current assets: | |||
| Loans and advances to customers | 0.00 | 0.00 | 0.00 |
| Investments in debt obligations | 0.00 | 0.00 | 0.00 |
| Investments in other debt obligations | 0.00 | 0.00 | 0.00 |
| Long-term receivables | 0.00 | 0.00 | 0.00 |
| Long-term equity investments | 3,693,170,224.00 | 3,693,170,224.00 | 0.00 |
| Investments in other equity instruments | 533,645,423.00 | 533,645,423.00 | 0.00 |
| Other non-current financial assets | 0.00 | 0.00 | 0.00 |
| Investment property | 1,196,168,511.00 | 1,196,168,511.00 | 0.00 |
| Fixed assets | 224,866,586,069.00 | 224,770,354,605.00 | -96,231,464.00 |
| Construction in progress | 42,575,849,952.00 | 42,575,849,952.00 | 0.00 |
| Productive living assets | 0.00 | 0.00 | 0.00 |
| Oil and gas assets | 0.00 | 0.00 | 0.00 |
| Right-of-use assets | 0.00 | 619,995,119.00 | 619,995,119.00 |
| Intangible assets | 11,875,926,448.00 | 11,875,926,448.00 | 0.00 |
| Development costs | 0.00 | 0.00 | 0.00 |
| Goodwill | 1,400,357,242.00 | 1,400,357,242.00 | 0.00 |
| Long-term prepaid expense | 299,634,100.00 | 285,653,485.00 | -13,980,615.00 |
| Deferred income tax assets | 205,041,088.00 | 205,041,088.00 | 0.00 |
| Other non-current assets | 8,624,970,019.00 | 8,624,970,019.00 | 0.00 |
| Total non-current assets | 295,271,349,076.00 | 295,781,132,116.00 | 509,783,040.00 |
| Total assets | 424,256,806,331.00 | 424,758,182,679.00 | 501,376,348.00 |
| Current liabilities: | |||
| Short-term borrowings | 8,599,569,471.00 | 8,599,569,471.00 | 0.00 |
| Borrowings from the central bank | 0.00 | 0.00 | 0.00 |
| Interbank loans obtained | 0.00 | 0.00 | 0.00 |
| Held-for-trading financial liabilities | 0.00 | 0.00 | 0.00 |
| Derivative financial liabilities | 0.00 | 0.00 | 0.00 |
| Notes payable | 1,231,533,895.00 | 1,231,533,895.00 | 0.00 |
| Accounts payable | 27,164,171,682.00 | 27,164,171,682.00 | 0.00 |
| Advances from customers | 124,040,749.00 | 124,040,749.00 | 0.00 |
| Contract liabilities | 3,440,720,535.00 | 3,440,720,535.00 | 0.00 |
| Financial assets sold under repurchase agreements | 0.00 | 0.00 | 0.00 |
| Customer deposits and interbank deposits | 0.00 | 0.00 | 0.00 |
| Payables for acting trading of securities | 0.00 | 0.00 | 0.00 |
| Payables for underwriting of securities | 0.00 | 0.00 | 0.00 |
| Employee benefits payable | 3,758,623,797.00 | 3,758,623,797.00 | 0.00 |
| Taxes payable | 1,077,686,869.00 | 1,077,686,869.00 | 0.00 |
| Other payables | 32,867,709,024.00 | 32,867,709,024.00 | 0.00 |
| Including: Interest payable | 1,946,267.00 | 1,946,267.00 | 0.00 |
| Dividends payable | 6,451,171.00 | 6,451,171.00 | 0.00 |
| Handling charges and commissions payable | 0.00 | 0.00 | 0.00 |
| Reinsurance payables | 0.00 | 0.00 | 0.00 |
| Liabilities directly associated with assets held for sale | 0.00 | 0.00 | 0.00 |
| Current portion of non-current liabilities | 24,500,550,121.00 | 24,538,420,167.00 | 37,870,046.00 |
| Other current liabilities | 2,194,716,852.00 | 2,194,716,852.00 | 0.00 |
| Total current liabilities | 104,959,322,995.00 | 104,997,193,041.00 | 37,870,046.00 |
| Non-current liabilities: | |||
| Insurance contract reserve | 0.00 | 0.00 | 0.00 |
| Long-term borrowings | 132,452,767,135.00 | 132,452,767,135.00 | 0.00 |
| Bonds payable | 398,971,739.00 | 398,971,739.00 | 0.00 |
| Including: Preferred shares | 0.00 | 0.00 | 0.00 |
| Perpetual bonds | 0.00 | 0.00 | 0.00 |
| Lease liabilities | 0.00 | 565,344,418.00 | 565,344,418.00 |
| Long-term payables | 2,114,175,683.00 | 2,012,337,567.00 | -101,838,116.00 |
| Long-term employee benefits payable | 0.00 | 0.00 | 0.00 |
| Provisions | 0.00 | 0.00 | 0.00 |
| Deferred income | 4,246,231,468.00 | 4,246,231,468.00 | 0.00 |
| Deferred income tax liabilities | 1,427,601,154.00 | 1,427,601,154.00 | 0.00 |
| Other non-current liabilities | 5,260,001,443.00 | 5,260,001,443.00 | 0.00 |
| Total non-current liabilities | 145,899,748,622.00 | 146,363,254,924.00 | 463,506,302.00 |
| Total liabilities | 250,859,071,617.00 | 251,360,447,965.00 | 501,376,348.00 |
| Owners’ equity: | |||
| Share capital | 34,798,398,763.00 | 34,798,398,763.00 | 0.00 |
| Other equity instruments | 14,146,997,427.00 | 14,146,997,427.00 | 0.00 |
| Including: Preferred shares | 0.00 | 0.00 | 0.00 |
| Perpetual bonds | 14,146,997,427.00 | 14,146,997,427.00 | 0.00 |
| Capital reserves | 37,435,655,934.00 | 37,435,655,934.00 | 0.00 |
| Less: Treasury stock | 1,036,298,508.00 | 1,036,298,508.00 | 0.00 |
| Other comprehensive income | -22,198,072.00 | -22,198,072.00 | 0.00 |
| Specific reserve | 0.00 | 0.00 | 0.00 |
| Surplus reserves | 2,444,416,669.00 | 2,444,416,669.00 | 0.00 |
| General reserve | 0.00 | 0.00 | 0.00 |
| Retained earnings | 15,509,794,622.00 | 15,509,794,622.00 | 0.00 |
| Total equity attributable to owners of the Company as the parent | 103,276,766,835.00 | 103,276,766,835.00 | 0.00 |
| Non-controlling interests | 70,120,967,879.00 | 70,120,967,879.00 | 0.00 |
| Total owners’ equity | 173,397,734,714.00 | 173,397,734,714.00 | 0.00 |
| Total liabilities and owners’ equity | 424,256,806,331.00 | 424,758,182,679.00 | 501,376,348.00 |
Note for adjustment:
The Company starts to implement the Accounting Standards for Business Enterprises No. 21-Leases revised in 2018 since 1 January2021 and adjusts the financial statements of the first execution year as required by standards.Balance Sheet of the Company as the Parent
Unit: RMB
| Item | 31 December 2020 | 1 January 2021 | Adjusted |
| Current assets: | |||
| Monetary assets | 4,375,497,010.00 | 4,375,497,010.00 | 0.00 |
| Held-for-trading financial assets | 0.00 | 0.00 | 0.00 |
| Derivative financial assets | 0.00 | 0.00 | 0.00 |
| Notes receivable | 0.00 | 0.00 | 0.00 |
| Accounts receivable | 3,974,212,308.00 | 3,974,212,308.00 | 0.00 |
| Accounts receivable financing | 0.00 | 0.00 | 0.00 |
| Prepayments | 12,185,651.00 | 12,185,651.00 | 0.00 |
| Other receivables | 16,345,474,583.00 | 16,345,474,583.00 | 0.00 |
| Including: Interest receivable | 0.00 | 0.00 | 0.00 |
| Dividends receivable | 460,261,502.00 | 460,261,502.00 | 0.00 |
| Inventories | 18,622,283.00 | 18,622,283.00 | 0.00 |
| Contract assets | 0.00 | 0.00 | 0.00 |
| Assets held for sale | 0.00 | 0.00 | 0.00 |
| Current portion of non-current assets | 0.00 | 0.00 | 0.00 |
| Other current assets | 177,761,718.00 | 177,761,718.00 | 0.00 |
| Total current assets | 24,903,753,553.00 | 24,903,753,553.00 | 0.00 |
| Non-current assets: | |||
| Investments in debt obligations | 0.00 | 0.00 | 0.00 |
| Investments in other debt obligations | 0.00 | 0.00 | 0.00 |
| Long-term receivables | 0.00 | 0.00 | 0.00 |
| Long-term equity investments | 182,135,057,208.00 | 182,135,057,208.00 | 0.00 |
| Investments in other equity instruments | 81,192,872.00 | 81,192,872.00 | 0.00 |
| Other non-current financial assets | 0.00 | 0.00 | 0.00 |
| Investment property | 271,212,241.00 | 271,212,241.00 | 0.00 |
| Fixed assets | 1,009,178,229.00 | 1,002,750,947.00 | -6,427,282.00 |
| Construction in progress | 418,343,961.00 | 418,343,961.00 | 0.00 |
| Productive living assets | 0.00 | 0.00 | 0.00 |
| Oil and gas assets | 0.00 | 0.00 | 0.00 |
| Right-of-use assets | 0.00 | 6,427,282.00 | 6,427,282.00 |
| Intangible assets | 1,380,069,827.00 | 1,380,069,827.00 | 0.00 |
| Development costs | 0.00 | 0.00 | 0.00 |
| Goodwill | 0.00 | 0.00 | 0.00 |
| Long-term prepaid expense | 105,439,681.00 | 105,439,681.00 | 0.00 |
| Deferred income tax assets | 0.00 | 0.00 | 0.00 |
| Other non-current assets | 2,611,437,988.00 | 2,611,437,988.00 | 0.00 |
| Total non-current assets | 188,011,932,007.00 | 188,011,932,007.00 | 0.00 |
| Total assets | 212,915,685,560.00 | 212,915,685,560.00 | 0.00 |
| Current liabilities: | |||
| Short-term borrowings | 0.00 | 0.00 | 0.00 |
| Held-for-trading financial liabilities | 0.00 | 0.00 | 0.00 |
| Derivative financial liabilities | 0.00 | 0.00 | 0.00 |
| Notes payable | 0.00 | 0.00 | 0.00 |
| Accounts payable | 272,241,469.00 | 272,241,469.00 | 0.00 |
| Advances from customers | 18,286,458.00 | 18,286,458.00 | 0.00 |
| Contract liabilities | 0.00 | 0.00 | 0.00 |
| Employee benefits payable | 516,060,153.00 | 516,060,153.00 | 0.00 |
| Taxes payable | 87,179,892.00 | 87,179,892.00 | 0.00 |
| Other payables | 6,541,918,681.00 | 6,541,918,681.00 | 0.00 |
| Including: Interest payable | 0.00 | 0.00 | 0.00 |
| Dividends payable | 6,451,171.00 | 6,451,171.00 | 0.00 |
| Liabilities directly associated with assets held for sale | 0.00 | 0.00 | 0.00 |
| Current portion of non-current liabilities | 7,847,210,073.00 | 7,847,210,073.00 | 0.00 |
| Other current liabilities | 1,977,977.00 | 1,977,977.00 | 0.00 |
| Total current liabilities | 15,284,874,703.00 | 15,284,874,703.00 | 0.00 |
| Non-current liabilities: |
| Long-term borrowings | 38,360,714,121.00 | 38,360,714,121.00 | 0.00 |
| Bonds payable | 0.00 | 0.00 | 0.00 |
| Including: Preferred shares | 0.00 | 0.00 | 0.00 |
| Perpetual bonds | 0.00 | 0.00 | 0.00 |
| Lease liabilities | 0.00 | 0.00 | 0.00 |
| Long-term payables | 0.00 | 0.00 | 0.00 |
| Long-term employee benefits payable | 0.00 | 0.00 | 0.00 |
| Provisions | 0.00 | 0.00 | 0.00 |
| Deferred income | 3,633,342,446.00 | 3,633,342,446.00 | 0.00 |
| Deferred income tax liabilities | 385,697,604.00 | 385,697,604.00 | 0.00 |
| Other non-current liabilities | 56,156,661,805.00 | 56,156,661,805.00 | 0.00 |
| Total non-current liabilities | 98,536,415,976.00 | 98,536,415,976.00 | 0.00 |
| Total liabilities | 113,821,290,679.00 | 113,821,290,679.00 | 0.00 |
| Owners’ equity: | |||
| Share capital | 34,798,398,763.00 | 34,798,398,763.00 | 0.00 |
| Other equity instruments | 14,146,997,427.00 | 14,146,997,427.00 | 0.00 |
| Including: Preferred shares | 0.00 | 0.00 | 0.00 |
| Perpetual bonds | 14,146,997,427.00 | 14,146,997,427.00 | 0.00 |
| Capital reserves | 36,696,079,366.00 | 36,696,079,366.00 | 0.00 |
| Less: Treasury stock | 1,036,298,508.00 | 1,036,298,508.00 | 0.00 |
| Other comprehensive income | 90,713,133.00 | 90,713,133.00 | 0.00 |
| Specific reserve | 0.00 | 0.00 | 0.00 |
| Surplus reserves | 2,444,416,669.00 | 2,444,416,669.00 | 0.00 |
| Retained earnings | 11,954,088,031.00 | 11,954,088,031.00 | 0.00 |
| Total owners’ equity | 99,094,394,881.00 | 99,094,394,881.00 | 0.00 |
| Total liabilities and owners’ equity | 212,915,685,560.00 | 212,915,685,560.00 | 0.00 |
Note for adjustment:
The Company starts to implement the Accounting Standards for Business Enterprises No. 21-Leases revised in 2018 since 1 January2021 and adjusts the financial statements of the first execution year as required by standards.
(4) Retroactive Adjustments to Comparative Data of Prior Years when First Execution of any NewStandards Governing Leases since 2021
□ Applicable √ Not applicable
45. Others
Naught
VI. 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 and the VAT tax free for the Period | 7%, 5% |
| Enterprise income tax | Based on taxable income | 15%-30% |
| Education surcharge and local education surcharge | Based on VAT paid and the VAT tax free 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% |
| 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% |
| Hefei BOE Display Technology Co., Ltd. | 15% |
| Fuzhou BOE Optoelectronics Technology Co., Ltd. | 15% |
| Mianyang BOE Optoelectronics Technology Co., Ltd. | 15% |
| Wuhan BOE Optoelectronics Technology Co., Ltd. | 15% |
| Nanjing BOE Display Technology Co., Ltd. | 15% |
| Chengdu CEC Panda Display Technology Co., Ltd. | 15% |
| BOE Optical Science and 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% |
| BOE (Hebei) Mobile Display Technology Co., Ltd. | 15% |
| Beijing Smart-aero Display Technology Co., Ltd. | 15% |
| Chongqing BOE Intelligent Electronic System Co., Ltd. | 15% |
| Suzhou K-Tronics Co., Ltd. | 15% |
| Beijing BOE Vacuum Electronics Co., Ltd. | 15% |
| Beijing BOE Vacuum Technology Co., Ltd. | 15% |
| BOE Smart IoT Technology Co., Ltd. | 15% |
| BOE Regenerative Medical Technologies Co. Ltd. | 15% |
| Beijing BOE Health Technology Co., Ltd. | 15% |
| Chengdu BOE Smart Technology Co., Ltd. | 15% |
| Chengdu BOE Smart IoT Technology Co., Ltd. | 15% |
| Hefei BOE Semi-conductor Co., Ltd. | 15% |
| Beijing BOE Energy Technology Co., Ltd. | 15% |
| Chongqing BOE Electronic Technology Co., Ltd. | 15% |
| Beijing BOE Sensor Technology Co., Ltd. | 15% |
2. Tax Preference
| Company | Policy basis | Authority of Approval, Approval Document No. and Valid Period |
| Hefei BOE Display Technology Co., Ltd. Fuzhou BOE Optoelectronics Technology Co., Ltd. Chengdu BOE Optoelectronics Technology Co., Ltd. Mianyang BOE Optoelectronics Technology Co., Ltd. | In June 2016, Ministry of Finance issued [2016] No.30 Document. According to the document, in terms of the new FPD project and new key equipment imported between 1 January 2015 and 31 December 2018. Import VAT could be paid by installments within 6 years (72 consecutive months) after the first device was imported. | In 2016, Ministry of Finance, General Administration of Customs and SAT jointly issued CS [2016] No.30 Notice on various Policies related to VAT Payment by Installments for the Imported Equipment Involved in the New FPD Project. According to the document, in terms of the new FPD project and new key equipment imported between 1 January 2015 and 31 December 2018. Import VAT could be paid by installments within 6 years (72 consecutive months) after the first device was imported. |
| Mianyang BOE Optoelectronics Technology Co., Ltd. Chongqing BOE Display Technology Co., Ltd. | In December 2019, the Ministry of Finance issued Document [2019] No. 47, which approved the import of key new equipment for the Active-matrix Organic Light Emitting Diode (AMOLED) display device project | In 2019, the Ministry of Finance, the GACC and the State Taxation Administration and the Ministry of Finance issued the C.G.SH. [2019] No. 47 Notice on the Phased VAT Payment Policy for Imported Equipment of Active-matrix Organic Light Emitting Diode Display Device Project, which approved the import of key new device for |
| between 1 January 2019 and 31 December 2020, with import value-added tax allowed to be paid in phases over a period of six years (72 consecutive months) after the import of the first equipment. | Active-matrix Organic Light Emitting Diode (AMOLED) display device project between 1 January 2019 and 31 December 2020, with import value-added tax allowed to be paid in phases over a period of six years (72 consecutive months) after the import of the first device. |
3. Others
Naught
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 | 1,084,972.00 | 401,041.00 |
| Bank deposits | 66,486,441,590.00 | 68,205,179,419.00 |
| Other monetary assets | 4,901,259,661.00 | 5,488,715,635.00 |
| Total | 71,388,786,223.00 | 73,694,296,095.00 |
| Of which: the total amount deposited overseas | 8,495,452,936.00 | 7,025,632,935.00 |
| Total amount of restriction in use by guaranteed, pledged or frozen | 4,898,511,123.00 | 5,488,099,634.00 |
Other notes:
Including: Total overseas deposits were equivalent to RMB8,495,452,936.220 (2020: RMB7,025,632,935).As at 30 June 2021, the Group did not pledge any monetary assets for short-term borrowings and long-term borrowings, and otherrestricted monetary funds, amounting to RMB4,898,511,123, were mainly the deposits in commercial banks as security.As at 31 December 2020, other monetary assets were pledged by the Group amounting to USD152,091,672 for short-term loans, andRMB99,133,679 were pledged for long-term loans. The rest of other restricted monetary funds, amounting to RMB 4,396,583,003,were the deposits in commercial banks as security.
2. Financial Assets Held for Trading
Unit: RMB
| Item | Ending balance | Beginning balance |
| Financial assets at fair value through profit or loss | 2,654,184,080.00 | 4,367,201,833.00 |
| Of which: | ||
| Wealth management products | 2,654,184,080.00 | 4,367,201,833.00 |
| Financial assets designated to be measured at fair value and changes thereof | 0.00 | 0.00 |
| recorded into the current profit or loss | ||
| Of which: | ||
| Total | 2,654,184,080.00 | 4,367,201,833.00 |
Other notes: N/A
3. Notes Receivable
(1) Notes Receivable Listed by Category
Unit: RMB
| Item | Ending balance | Beginning balance |
| Bank acceptance bill | 174,208,779.00 | 215,994,373.00 |
| Commercial acceptance bill | 0.00 | 0.00 |
| Total | 174,208,779.00 | 215,994,373.00 |
Unit: RMB
| Category | Ending balance | Beginning balance | ||||||||
| Book value | Provision for impairment | Carrying amounts | Book value | Provision for impairment | Carrying amounts | |||||
| Amount | Percentage | Amount | Withdrawal proportion | Amount | Percentage | Amount | Withdrawal proportion | |||
| Notes receivable for which bad debt provision accrued separately | N/A | |||||||||
| Of which: | ||||||||||
| Notes receivable for which bad debt provision accrued by group | N/A | |||||||||
| Of which: | ||||||||||
| N/A | ||||||||||
| Total | ||||||||||
Bad debt provision withdrawn separately: 0.00
Unit: RMB
| Name | Ending balance |
| Book value | Provision for impairment | Withdrawal proportion | Reason for withdrawal | |
| N/A | ||||
| Total | -- | -- |
Bad debt provision accrued by group: 0.00
Unit: RMB
| Name | Ending balance | ||
| Book value | Provision for impairment | Withdrawal proportion | |
| N/A | |||
| Total | -- | ||
Notes of the basis of recognizing the group: NoneIf the bad debt provision for notes receivable was withdrawn in accordance with the general model of expected credit losses,information related to bad debt provision shall be disclosed by reference to the disclosure method of other receivables:
□ Applicable √ Not applicable
(2) Bad Debt Provision Withdrawn, Reversed or Recovered in the Reporting Period
Information of withdrawal of bad debt provision:
Unit: RMB
| Category | Beginning balance | Changes in the Reporting Period | Ending balance | |||
| Withdrawal | Reversal or recovery | Write-off | Others | |||
| N/A | ||||||
| Total | ||||||
Of which bad debt provision reversed or recovered with significant amount:
□ Applicable √ Not applicable
(3) Notes Receivable Pledged by the Company at the Period-end
Unit: RMB
| Item | Amount |
| Bank acceptance bill | 0.00 |
| Commercial acceptance bill | 0.00 |
| Total | 0.00 |
(4) Notes Receivable which Had Endorsed by the Company or Had Discounted and Had not Due on theBalance Sheet Date at the Period-end
Unit: RMB
| Item | Amount of recognition termination at the period-end | Amount of not terminated recognition at the period-end |
| Bank acceptance bill | 0.00 | 29,880,198.00 |
| Commercial acceptance bill | 0.00 | 0.00 |
| Total | 0.00 | 29,880,198.00 |
(5) Notes Transferred to Accounts Receivable Because Drawer of the Notes Failed to Execute the Contractor Agreement
Unit: RMB
| Item | Amount of the notes transferred to accounts receivable at the period-end |
| Commercial acceptance bill | 0.00 |
| Total | 0.00 |
Other notes:
N/A
(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 | |||||
| Total |
Notes of the verification of notes receivable: Non
4. Accounts Receivable
(1) Accounts Receivable Disclosed by Category
Unit: RMB
| Category | Ending balance | Beginning balance | ||||||||
| Book value | Provision for impairment | Carrying amounts | Book value | Provision for impairment | Carrying amounts | |||||
| Amount | Percentage | Amount | Withdrawal proportion | Amount | Percentage | Amount | Withdrawal proportion | |||
| Accounts receivable for which bad debt provision accrued separately | 1,452,996,712.00 | 4.01% | 68,560,314.00 | 4.72% | 1,384,436,398.00 | 1,097,075,607.00 | 4.76% | 41,752,588.00 | 3.81% | 1,055,323,019.00 |
| Of which: | ||||||||||
| Accounts receivable for which bad debt provision accrued by group | 34,741,614,414.00 | 95.99% | 20,383,276.00 | 0.06% | 34,721,231,138.00 | 21,929,927,770.00 | 95.24% | 16,110,434.00 | 0.07% | 21,913,817,336.00 |
| Of which: | ||||||||||
| Total | 36,194,611,126.00 | 100.00% | 88,943,590.00 | 0.25% | 36,105,667,536.00 | 23,027,003,377.00 | 100.00% | 57,863,022.00 | 0.25% | 22,969,140,355.00 |
Bad debt provision withdrawn separately: None
Unit: RMB
| Name | Ending balance | |||
| Book value | Provision for impairment | Withdrawal proportion | Reason for withdrawal | |
| N/A | ||||
| Total | ||||
Bad debt provision accrued by group: None
Unit: RMB
| Name | Ending balance |
| Book value | Provision for impairment | Withdrawal proportion | |
| Portfolio of credit risk | 36,194,611,126.00 | 88,943,590.00 | 0.25% |
| Total | 36,194,611,126.00 | 88,943,590.00 | -- |
-Notes of the basis of recognizing the group:
N/APlease refer to the relevant information of disclosure of bad debt provision of other accounts receivable if adopting the general mode of expected credit loss to withdraw bad debt provision ofnotes receivable.
√ Applicable □ Not applicable
| ? | ? | 2021 | ||||||||
| ? | ? | Book value | ? | Provision for impairment | ? | ? | ||||
| Category | ? | Amount | ? | Proportion (%) | ? | Amount | ? | Proportion (%) | ? | Carrying amounts |
| Bad debt provision withdrawn separately | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? |
| -Customers with high credit risk | ? | 70,148,590.00 | ? | 0.19% | ? | 68,560,314.00 | ? | 97.74% | ? | 1,588,276.00 |
| Customers with low credit risk | ? | 1,382,848,122.00 | ? | 3.82% | ? | 0.00 | ? | 0.00% | ? | 1,382,848,122.00 |
| Bad debt provision accrued by group | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? |
| -Customers with medium credit risk | ? | 34,741,614,414.00 | ? | 95.99% | ? | 20,383,276.00 | ? | 0.06% | ? | 34,721,231,138.00 |
| Total | ? | 36,194,611,126.00 | ? | 100.00% | ? | 88,943,590.00 | ? | 0.25% | ? | 36,105,667,536.00 |
Disclosed by aging
Unit: RMB
| Ageing | Ending balance |
| Within 1 year (including 1 year） | 35,643,956,238.00 |
| 1 to 2 years | 205,598,700.00 |
| 2 to 3 years | 221,515,431.00 |
| Over 3 years | 123,540,757.00 |
| 3 to 4 years | 92,936,694.00 |
| 4 to 5 years | 6,764,216.00 |
| More than 5 years | 23,839,847.00 |
| Total | 36,194,611,126.00 |
(2) Bad Debt Provision Withdrawn, Reversed or Recovered in the Reporting PeriodInformation of withdrawal of bad debt provision:
Unit: RMB
| Category | Beginning balance | Changes in the Reporting Period | Ending balance | |||
| Withdrawal | Reversal or recovery | Write-off | Others | |||
| Bad debt of accounts receivable | 57,863,022.00 | 45,978,502.00 | -12,155,388.00 | -2,439,492.00 | -303,054.00 | 88,943,590.00 |
| Total | 57,863,022.00 | 45,978,502.00 | -12,155,388.00 | -2,439,492.00 | -303,054.00 | 88,943,590.00 |
Of which bad debt provision reversed or recovered with significant amount:
Unit: RMB
| Subsidiary | Amount reversed or recovered | Way of recovery |
| N/A | ||
| Total |
(3) Accounts Receivable with Actual Verification during the Reporting Period
Unit: RMB
| Item | Amount verified |
| N/A |
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 | |||||
| Total |
Notes: None
(4) Top 5 Accounts Receivable in Ending Balance Collected according to the Arrears Party
Unit: RMB
| Subsidiary | Ending balance of accounts receivable | Proportion to the total ending balance of accounts receivable | Ending balance of bad debt provisions |
| Sum of top 5 accounts receivable | 15,597,173,326.00 | 43.09% | 0.00 |
| Total | 15,597,173,326.00 | 43.09% |
(5) Accounts Receivable Derecognized Due to the Transfer of Financial AssetsN/A
(6) The Amount of the Assets and Liabilities Formed by the Transfer and the Continued Involvement ofAccounts ReceivableN/AOther notes:
N/A
5. Accounts Receivable Financing
Unit: RMB
| Item | Ending balance | Beginning balance |
| N/A | ||
| Total | 0.00 | 0.00 |
Increase/decrease in accounts receivable financing in the Reporting Period and changes in fair value
□ Applicable √ Not applicable
If the provision for impairment of accounts receivable financing was withdrawn in accordance with the general model of expectedcredit losses, information related to provision for impairment shall be disclosed by reference to the disclosure method of otherreceivables:
□ Applicable √ Not applicable
Other notes:
N/A
6. Prepayments
(1) List by Aging Analysis
Unit: RMB
| Ageing | Ending balance | Beginning balance | ||
| Amount | Percentage | Amount | Percentage | |
| Within 1 year | 1,002,884,882.00 | 94.56% | 1,000,241,405.00 | 90.02% |
| 1 to 2 years | 13,406,564.00 | 1.26% | 18,143,348.00 | 1.63% |
| 2 to 3 years | 16,366,855.00 | 1.55% | 84,733,056.00 | 7.62% |
| Over 3 years | 27,877,063.00 | 2.63% | 8,071,483.00 | 0.73% |
| Total | 1,060,535,364.00 | -- | 1,111,189,292.00 | -- |
Notes of the reasons of the prepayment aging over 1 year with significant amount but failed settled in time:
The Group has no such over-1-year-old prepayments with a substantial amount that were not settled in time.
(2) Top 5 of the Ending Balance of the Prepayments Collected according to the Prepayment TargetThe total amount of the prepayment of the top 5 of the Group at the period-end was of RMB599,318,890.00 that covered 56.51% ofthe total amount of the ending balance of the prepayment at the period-end.Other notes: N/A
7. Other Accounts Receivable
Unit: RMB
| Item | Ending balance | Beginning balance |
| Interest receivable | 859,163.00 | 2,037,452.00 |
| Dividends receivable | 11,322,356.00 | 1,842,137.00 |
| Other receivables | 688,677,833.00 | 654,235,244.00 |
| Total | 700,859,352.00 | 658,114,833.00 |
(1) Interest Receivable
1) Category of Interest Receivable
Unit: RMB
| Item | Ending balance | Beginning balance |
| Fixed time deposit | 859,163.00 | 2,037,452.00 |
| Entrusted loan | 0.00 | 0.00 |
| Bond investment | 0.00 | 0.00 |
| Total | 859,163.00 | 2,037,452.00 |
2) Significant Overdue Interest
Unit: RMB
| Borrower | Ending balance | Overdue time | Reason | Whether occurred impairment and its judgment basis |
| N/A | ||||
| Total |
Other notes: N/A
3) Withdrawal of Bad Debt Provision
□ Applicable √ Not applicable
(2) Dividend Receivable
1) Category of Dividend Receivable
Unit: RMB
| Item(or investee) | Ending balance | Beginning balance |
| Bank of Chongqing | 9,397,735.00 | 0.00 |
| Beijing Electronic Zone High-tech Group Co., Ltd. | 1,924,621.00 | 1,842,137.00 |
| Total | 11,322,356.00 | 1,842,137.00 |
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 | ||||
| Total |
3) Withdrawal of Bad Debt Provision
□ Applicable √ Not applicable
Other notes: N/A
(3) Other Accounts Receivable
1) Other Account Receivable Classified by Account Nature
Unit: RMB
| Nature of other receivables | Ending carrying balance | Beginning carrying balance |
| VAT refunds and export tax rebate | 129,497.00 | 41,149,236.00 |
| Amount due from equity transfer | 200,000,000.00 | 200,000,000.00 |
| Security deposits | 281,840,889.00 | 171,340,282.00 |
| Others | 215,637,047.00 | 250,789,738.00 |
| Total | 697,607,433.00 | 663,279,256.00 |
2) Withdrawal of Bad Debt Provision
Unit: RMB
| Provision for impairment | Phase I | Phase II | Phase III | Total |
| Expected credit losses 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 2021 | 0.00 | 0.00 | 9,044,012.00 | 9,044,012.00 |
| Balance of 1 January 2021 in the current period | —— | —— | —— | —— |
| --Transferred to the Phase II | 0.00 | 0.00 | 0.00 | 0.00 |
| -Transfer to Third stage | 0.00 | 0.00 | 0.00 | 0.00 |
| -Reverse to Second stage | 0.00 | 0.00 | 0.00 | 0.00 |
| -Reverse to First stage | 0.00 | 0.00 | 0.00 | 0.00 |
| Withdrawal of the current period | 0.00 | 0.00 | 45,783.00 | 45,783.00 |
| Reversal of the current period | 0.00 | 0.00 | 288.00 | 288.00 |
| Write-offs of the current period | 0.00 | 0.00 | 0.00 | 0.00 |
| Verification of the current period | 0.00 | 0.00 | 159,907.00 | 159,907.00 |
| Other changes | 0.00 | 0.00 | 0.00 | 0.00 |
| Balance of 30 June 2021 | 0.00 | 0.00 | 8,929,600.00 | 8,929,600.00 |
Changes of carrying amount with significant amount changed of loss provision in the current period
□ Applicable √ Not applicable
Disclosed by aging
Unit: RMB
| Ageing | Ending balance |
| Within 1 year (including 1 year） | 388,017,020.00 |
| 1 to 2 years | 38,830,906.00 |
| 2 to 3 years | 13,390,411.00 |
| Over 3 years | 257,369,096.00 |
| 3 to 4 years | 11,835,682.00 |
| 4 to 5 years | 591,752.00 |
| More than 5 years | 244,941,662.00 |
| Total | 697,607,433.00 |
3) Bad Debt Provision Withdrawn, Reversed or Recovered in the Reporting Period
Information of withdrawal of bad debt provision:
Unit: RMB
| Category | Beginning balance | Changes in the Reporting Period | Ending balance | |||
| Withdrawal | Reversal or recovery | Write-off | Others | |||
| Bad debt provisions for other receivables | 9,044,012.00 | 45,783.00 | -288.00 | -159,907.00 | 0.00 | 8,929,600.00 |
| Total | 9,044,012.00 | 45,783.00 | -288.00 | -159,907.00 | 0.00 | 8,929,600.00 |
Of which bad debt provision reversed or recovered with significant amount:
Unit: RMB
| Subsidiary | Amount reversed or recovered | Way of recovery |
| N/A | ||
| Total | -- |
4) Other Accounts Receivable with Actual Verification during the Reporting Period
Unit: RMB
| Item | Amount verified |
| Customer 1 | 159,907.00 |
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 | |||||
| Total | -- | -- | -- | -- |
Notes: None
5) Top 5 Other Accounts Receivable in Ending Balance Collected according to the Arrears Party
Unit: RMB
| Subsidiary | Nature | Ending balance | Ageing | Proportion to the total ending balance of other receivables | Ending balance of bad debt provisions |
| Customer A | Others | 200,000,000.00 | More than 5 years | 28.54% | 0.00 |
| Customer B | Others | 78,240,796.00 | Within 1 year | 11.16% | 0.00 |
| Customer C | Security deposits | 38,327,127.00 | Within 1 year | 5.47% | 0.00 |
| Customer D | Security deposits | 18,947,166.00 | Within 1 year | 2.70% | |
| Customer E | Water, electricity, gas, heat, power fees, etc. | 18,725,114.00 | Within 1 year and 1 to 2 years | 2.67% | 0.00 |
| Total | -- | 354,240,203.00 | -- | 50.54% | 0.00 |
6) Accounts Receivable Involving Government Grants
Unit: RMB
| Subsidiary | Project of government grants | Ending balance | Ending aging | Estimated recovering time, amount and basis |
| N/A |
7) Other Accounts Receivable Derecognized Due to the Transfer of Financial Assets
N/A
8) Amount of Assets and Liabilities Due to the Transfer of Other Account Receivable and ContinuedInvolvementN/A
8. Inventories
Whether the Company shall comply with the disclosure requirements for real estate industryNo
(1) Category of Inventories
Unit: RMB
| Item | Ending balance | Beginning balance | ||||
| Book value | Falling price reserves or impairment provision for contract performance costs | Carrying amounts | Book value | Falling price reserves or impairment provision for contract performance costs | Carrying amounts | |
| Raw materials | 11,441,157,031.00 | 1,808,646,557.00 | 9,632,510,474.00 | 8,068,822,655.00 | 933,491,391.00 | 7,135,331,264.00 |
| Work in progress | 3,400,711,094.00 | 635,561,765.00 | 2,765,149,329.00 | 2,811,789,420.00 | 583,885,537.00 | 2,227,903,883.00 |
| Finished goods | 13,042,997,061.00 | 2,115,071,978.00 | 10,927,925,083.00 | 10,074,715,347.00 | 1,767,518,826.00 | 8,307,196,521.00 |
| Consumables | 168,412,988.00 | 0.00 | 168,412,988.00 | 162,817,575.00 | 0.00 | 162,817,575.00 |
| Consumptive living assets | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Costs to fulfil a contract with a customer | 70,152,454.00 | 0.00 | 70,152,454.00 | 42,205,247.00 | 0.00 | 42,205,247.00 |
| Goods in transit | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total | 28,123,430,628.00 | 4,559,280,300.00 | 23,564,150,328.00 | 21,160,350,244.00 | 3,284,895,754.00 | 17,875,454,490.00 |
(2) Falling Price Reserves of Inventories and Impairment Provision for Contract Performance Costs
Unit: RMB
| Item | Beginning balance | Increased amount | Decrease | Ending balance | ||
| Withdrawal | Others | Reverse or write-off | Others | |||
| Raw materials | 933,491,391.00 | 1,128,858,869.00 | 0.00 | 253,703,703.00 | 0.00 | 1,808,646,557.00 |
| Work in progress | 583,885,537.00 | 319,745,271.00 | 0.00 | 268,069,043.00 | 0.00 | 635,561,765.00 |
| Finished goods | 1,767,518,826.00 | 1,235,443,087.00 | 0.00 | 887,889,935.00 | 0.00 | 2,115,071,978.00 |
| Consumables | 0.00 | 23,838.00 | 0.00 | 23,838.00 | 0.00 | 0.00 |
| Consumptive living assets | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Costs to fulfil a contract with a customer | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total | 3,284,895,754.00 | 2,684,071,065.00 | 0.00 | 1,409,686,519.00 | 0.00 | 4,559,280,300.00 |
N/A
(3) Notes to the Ending Balance of Inventories Including Capitalized Borrowing Expense
N/A
(4) Amount of Contract Performance Costs Amortized in the Reporting Period
N/A
9. Contract Assets
Unit: RMB
| Item | Ending balance | Beginning balance | ||||
| Book value | Provision for impairment | Carrying amounts | Book value | Provision for impairment | Carrying amounts | |
| Contract assets | 42,554,504.00 | 207,800.00 | 42,346,704.00 | 50,105,195.00 | 207,800.00 | 49,897,395.00 |
| Total | 42,554,504.00 | 207,800.00 | 42,346,704.00 | 50,105,195.00 | 207,800.00 | 49,897,395.00 |
The amount of significant changes in the carrying value of contract assets and reason during the Reporting Period:
Unit: RMB
| Item | Amount changed | Reason |
| N/A | ||
| Total | —— |
Please refer to the relevant information of disclosure of bad debt provision of other contract assets if adopting the general mode ofexpected credit loss to withdraw bad debt provision of notes receivable.
□ Applicable √ Not applicable
Additions, recoveries or reversals of provision for contract assets during the Reporting Period
Unit: RMB
| Item | Withdrawal of the current | Reversal of the current | Write-offs/Verification of | Reason for change |
| period | period | the current period | ||
| N/A | ||||
| Total | —— |
Other notes:
N/A
10. Held-for-sale Assets
Unit: RMB
| Item | Ending carrying balance | Provision for impairment | Ending carrying value | Fair value | Estimated disposal cost | Estimated disposal time |
| N/A | ||||||
| Total | —— |
Other notes:
N/A
11. Other Current Assets
Unit: RMB
| Item | Ending balance | Beginning balance |
| Contract acquisition cost of | 0.00 | 0.00 |
| Costs receivables for recovering products from a customer | 69,857,582.00 | 131,986,424.00 |
| VAT on tax credits | 5,391,537,246.00 | 6,447,432,350.00 |
| Input tax to be verified or deducted | 558,251,603.00 | 1,068,285,033.00 |
| Wealth management products | 0.00 | 2,611,572.00 |
| Prepaid income taxes | 15,945,090.00 | 23,710,045.00 |
| Others | 105,844,208.00 | 174,843,828.00 |
| Total | 6,141,435,729.00 | 7,848,869,252.00 |
Other notes: N/A
12. Long-term Equity Investment
Unit: RMB
| Investee | Beginning balance (carrying value) | Increase/decrease | Ending balance (carrying value) | Ending balance for impairment provisions | |||||||
| Additional investments | Reduced investments | 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 | Impairment provisions | Others | ||||
| I. Joint ventures | |||||||||||
| N/A | |||||||||||
| Sub-total | |||||||||||
| II. Associated enterprises | |||||||||||
| Beijing Nissin Electronics Precision Component Co., Ltd. | 263,858.00 | 0.00 | 0.00 | 938,625.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1,202,483.00 | 0.00 |
| Beijing Nittan Electronic Co., Ltd. | 71,396,821.00 | 0.00 | 0.00 | 4,753,636.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 76,150,457.00 | 0.00 |
| Beijing Infi-Hailin Venture Investment Co., Ltd. | 1,166,524.00 | 0.00 | 0.00 | -830,360.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 336,164.00 | 0.00 |
| Erdos BOE Energy Investment Co., Ltd. | 906,163,137.00 | 0.00 | 0.00 | -332,005.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 905,831,132.00 | 777,858,312.00 |
| Beijing Fly Hailin Investment Center (LLP) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| TPV Display Technology (China) Limited | 24,828,264.00 | 0.00 | 0.00 | 2,014,621.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 26,842,885.00 | 0.00 |
| Beijing XindongNeng Investment Fund (LLP) | 2,058,142,325.00 | 0.00 | 319,214,968.00 | 6,750,375.00 | -66,822,001.00 | 0.00 | -2,000,000.00 | 0.00 | 0.00 | 1,676,855,731.00 | 0.00 |
| Beijing Xindongneng Investment Management Co., Ltd. | 7,921,626.00 | 0.00 | 0.00 | 1,852,544.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 9,774,170.00 | 0.00 |
| Shenzhen Yunyinggu Technology Co., Ltd. | 21,910,887.00 | 0.00 | 0.00 | -3,337,280.00 | -134,514.00 | 1,152,357.00 | 0.00 | 0.00 | 0.00 | 19,591,450.00 | 0.00 |
| Beijing Xloong Technologies Co., Ltd. | 19,766,940.00 | 0.00 | 0.00 | 123,032.00 | 0.00 | 773,082.00 | 0.00 | 0.00 | 0.00 | 20,663,054.00 | 0.00 |
| New on | 2,400,038.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -27,091.00 | 2,372,947.00 | 0.00 |
| Technology Co., Ltd. | |||||||||||
| Cnoga Medical Co., Ltd. | 266,520,324.00 | 0.00 | 0.00 | -3,202,010.00 | 0.00 | 0.00 | 0.00 | 0.00 | -2,638,849.00 | 260,679,465.00 | 248,691,927.00 |
| 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 |
| Beijing Zhonglianhe Ultra HD Collaborative Technology Centre Co., Ltd. | 2,426,909.00 | 0.00 | 0.00 | -402,819.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 2,024,090.00 | 0.00 |
| Tianjin Xianzhilian Investment Management Center (Limited Partnership) | 991,163.00 | 0.00 | 0.00 | 8,041,801.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 9,032,964.00 | 0.00 |
| Tianjin Xianzhilian Investment Center (Limited Partnership) | 474,207,278.00 | 0.00 | 0.00 | -15,160,073.00 | 0.00 | -2,298,800.00 | 0.00 | 0.00 | 0.00 | 456,748,405.00 | 0.00 |
| Beijing Innovation Industry | 204,063,254.00 | 0.00 | 0.00 | 997,328.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 205,060,582.00 | 0.00 |
| Investment Co., Ltd. | |||||||||||
| Beijing Electric Control Industry Investment Co., Ltd. | 200,283,114.00 | 0.00 | 0.00 | 809,487.00 | 2,642,278.00 | 0.00 | 0.00 | 0.00 | 0.00 | 203,734,879.00 | 0.00 |
| BOE Houji Technology (Beijing) Co., Ltd. | 917,633.00 | 0.00 | 0.00 | -454,073.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 463,560.00 | 0.00 |
| BioChain (Beijing) Science & Technology, Inc. | 200,203,487.00 | 150,000,000.00 | 0.00 | -1,897,578.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 348,305,909.00 | 0.00 |
| Shenzhen Jiangcheng Technology Co., Ltd. | 5,011,461.00 | 0.00 | 4,851,265.00 | -143,937.00 | 0.00 | 0.00 | 0.00 | 0.00 | -16,259.00 | 0.00 | 0.00 |
| Hunan BOE Yiyun Science & Technology Co., Ltd. | 253,630,000.00 | 0.00 | 0.00 | 1,368,215.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 254,998,215.00 | 0.00 |
| Guoke BOE (Shanghai) Equity Investment Management Co., Ltd. | 0.00 | 2,571,400.00 | 0.00 | -1,269,516.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1,301,884.00 | 0.00 |
| Sub-total | 4,722,215,043.00 | 152,571,400.00 | 324,066,233.00 | 620,013.00 | -64,314,237.00 | -373,361.00 | -2,000,000.00 | 0.00 | -2,682,199.00 | 4,481,970,426.00 | 1,026,550,239.00 |
| Total | 4,722,215,043.00 | 152,571,400.00 | 324,066,233.00 | 620,013.00 | -64,314,237.00 | -373,361.00 | -2,000,000.00 | 0.00 | -2,682,199.00 | 4,481,970,426.00 | 1,026,550,239.00 |
Other notes:
N/A
13. Other Equity Instrument Investment
Unit: RMB
| Item | Ending balance | Beginning balance |
| Beijing Electronics Zone High-Tech Group Co., Ltd. | 58,563,456.00 | 74,372,840.00 |
| Zhejiang BOE Display Technology Co., Ltd. | 321,256.00 | 321,256.00 |
| Zhejiang Qiusheng Optoelectronics Technology Co., Ltd. | 248,776.00 | 248,776.00 |
| Beijing Digital TV National Engineering Laboratory Co., Ltd. | 6,250,000.00 | 6,250,000.00 |
| Qingdao Ultra HD Video Innovation Technology Co., Ltd. | 500,000.00 | 0.00 |
| Bank of Chongqing | 108,382,711.00 | 102,845,668.00 |
| New Century Medical Treatment | 23,728,596.00 | 36,995,513.00 |
| Beijing Horizon Robotics Technology Research and Development Co., Ltd. | 32,285,480.00 | 0.00 |
| Danhua Capital,L.P. | 32,300,500.00 | 32,624,500.00 |
| Danhua Capital II,L.P. | 64,601,000.00 | 65,249,007.00 |
| Kateeva Inc. | 77,165,895.00 | 77,939,931.00 |
| ZGLUE INC. | 0.00 | 0.00 |
| Nanosys INC | 48,450,750.00 | 48,936,750.00 |
| Ceribell INC | 8,398,123.00 | 8,482,363.00 |
| Baebies INC | 28,383,657.00 | 28,668,368.00 |
| KAIMAGING INC. | 1,859,004.00 | 1,877,651.00 |
| MOOV INC. | 25,947,313.00 | 26,207,585.00 |
| Illumina Fund I,L.P. | 24,838,942.00 | 21,320,235.00 |
| ACQIS Technology,Inc. | 1,292,020.00 | 1,304,980.00 |
| Total | 543,517,479.00 | 533,645,423.00 |
Disclosure of Non-trading Equity Instrument Investment
Unit: RMB
| Item | Dividend income recognized | Accumulative gains | Accumulative losses | Amount transferred from other comprehensive income to retained earnings | Reason for being designated at fair value through other comprehensive income | Reason for transferring from other comprehensive income to retained earnings |
| Beijing Electronics Zone High-Tech Group Co., Ltd. | 1,924,620.00 | 24,318,059.00 | 0.00 | 0.00 | With the intention of establishing or maintaining a long-term investment for strategic reasons | N/A |
| Zhejiang BOE Display Technology Co., Ltd. | 0.00 | 0.00 | 0.00 | 0.00 | With the intention of establishing or maintaining a long-term investment for strategic reasons | N/A |
| Zhejiang Qiusheng Optoelectronics Technology Co., Ltd. | 1,629,959.00 | 3,040,266.00 | 0.00 | 0.00 | With the intention of establishing or maintaining a long-term investment for strategic reasons | N/A |
| Beijing Digital TV National Engineering Laboratory Co., Ltd. | 0.00 | 0.00 | 0.00 | 0.00 | With the intention of establishing or maintaining a long-term investment for strategic reasons | N/A |
| Qingdao Ultra HD Video Innovation Technology Co., Ltd. | 0.00 | 0.00 | 0.00 | 0.00 | With the intention of establishing or maintaining a long-term investment for strategic reasons | N/A |
| Bank of Chongqing | 9,378,620.00 | 49,765,507.00 | 0.00 | 0.00 | With the intention of establishing or maintaining a long-term investment for strategic reasons | N/A |
| New Century Medical Treatment | 0.00 | 910,302.00 | 0.00 | 0.00 | With the intention of establishing or maintaining a long-term investment for strategic reasons | N/A |
| Beijing Horizon Robotics Technology Research and Development Co., Ltd. | 0.00 | 0.00 | 0.00 | 0.00 | With the intention of establishing or maintaining a long-term investment for strategic reasons | N/A |
| Danhua Capital,L.P. | 3,517,466.00 | 8,288,945.00 | 0.00 | 0.00 | With the intention of establishing or maintaining a long-term investment for strategic reasons | N/A |
| Danhua Capital II,L.P. | 0.00 | 13,800,800.00 | 0.00 | 0.00 | With the intention of establishing or maintaining a long-term investment for strategic reasons | N/A |
| Kateeva Inc. | 0.00 | 0.00 | 0.00 | 0.00 | With the intention of establishing or maintaining a long-term investment for strategic reasons | N/A |
| ZGLUE INC. | 0.00 | 0.00 | 0.00 | 0.00 | With the intention of establishing or maintaining a long-term investment for strategic reasons | N/A |
| Nanosys INC | 0.00 | 0.00 | 0.00 | 0.00 | With the intention of establishing or maintaining a long-term investment for strategic reasons | N/A |
| Ceribell INC | 0.00 | 0.00 | 0.00 | 0.00 | With the intention of establishing or maintaining a long-term investment for strategic reasons | N/A |
| Baebies INC | 0.00 | 0.00 | 0.00 | 0.00 | With the intention of establishing or maintaining a long-term investment for strategic reasons | N/A |
| KAIMAGING INC. | 0.00 | 0.00 | 0.00 | 0.00 | With the intention of establishing or maintaining a long-term investment for strategic reasons | N/A |
| MOOV INC. | 0.00 | 0.00 | 0.00 | 0.00 | With the intention of establishing or maintaining a long-term investment for strategic reasons | N/A |
| Illumina Fund I,L.P. | 0.00 | 974,930.00 | 0.00 | 0.00 | With the intention of establishing or maintaining a long-term investment for strategic reasons | N/A |
| ACQIS Technology,Inc. | 0.00 | 0.00 | 0.00 | 0.00 | With the intention of establishing or maintaining a long-term investment for strategic reasons | N/A |
| Total | 16,450,665.00 | 101,098,809.00 | 0.00 | 0.00 | - | - |
Other notes:
N/A
14. Other Non-current Financial Assets
Unit: RMB
| Item | Ending balance | Beginning balance |
| Equity investment | 606,895,447.00 | 0.00 |
| Total | 606,895,447.00 | 0.00 |
Other notes:
15. Investment Property
(1) Investment Property Adopted the Cost Measurement Mode
√ Applicable □ Not applicable
Unit: RMB
| Item | Houses and buildings | Land use rights | Construction in progress | Total |
| I. Original carrying value | ||||
| 1. Beginning balance | 1,016,178,842.00 | 687,434,677.00 | 0.00 | 1,703,613,519.00 |
| 2. Increased amount of the period | 24,925,550.00 | 0.00 | 0.00 | 24,925,550.00 |
| (1) Outsourcing | 0.00 | 0.00 | 0.00 | 0.00 |
| (2)Transfer from inventory/fixed assets/construction in progress | 24,925,550.00 | 0.00 | 0.00 | 24,925,550.00 |
| (3) Business combination increase | 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 | 1,041,104,392.00 | 687,434,677.00 | 0.00 | 1,728,539,069.00 |
| II. Accumulative depreciation and accumulative amortization | ||||
| 1. Beginning balance | 352,793,837.00 | 154,651,171.00 | 0.00 | 507,445,008.00 |
| 2. Increased amount of the period | 15,241,271.00 | 6,784,373.00 | 0.00 | 22,025,644.00 |
| (1)Withdrawal or amortization | 15,241,271.00 | 6,784,373.00 | 0.00 | 22,025,644.00 |
| 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 | 368,035,108.00 | 161,435,544.00 | 0.00 | 529,470,652.00 |
| III. Depreciation reserves | 0.00 | 0.00 | 0.00 | 0.00 |
| 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 |
| (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 | 673,069,284.00 | 525,999,133.00 | 0.00 | 1,199,068,417.00 |
| 2. Beginning carrying value | 663,385,005.00 | 532,783,506.00 | 0.00 | 1,196,168,511.00 |
(2) Investment Property Adopted the Fair Value Measurement Mode
□ Applicable √ Not applicable
(3) Investment Property with Certificate of Title Uncompleted
Unit: RMB
| Item | Carrying amounts | Reason |
| N/A |
Other notes:
N/A
16. Fixed Assets
Unit: RMB
| Item | Ending balance | Beginning balance |
| Fixed assets | 224,483,239,199.00 | 224,770,354,605.00 |
| Disposal of fixed assets | 0.00 | 0.00 |
| Total | 224,483,239,199.00 | 224,770,354,605.00 |
(1) List of Fixed Assets
Unit: RMB
| Item | Plant & buildings | Equipment | Others | Total |
| I. Original carrying value |
| 1. Beginning balance | 62,366,734,483.00 | 260,069,085,898.00 | 6,938,507,880.00 | 329,374,328,261.00 |
| 2. Increased amount of the period | 2,081,832,004.00 | 13,785,630,762.00 | 735,505,178.00 | 16,602,967,944.00 |
| (1) Purchase | 657,223.00 | 341,805,281.00 | 476,676,417.00 | 819,138,921.00 |
| (2)Transfer from construction in progress | 2,083,331,852.00 | 13,445,714,309.00 | 262,974,049.00 | 15,792,020,210.00 |
| (3) Business combination increase | 0.00 | 0.00 | 0.00 | 0.00 |
| (4) Differences arising from translation of foreign currency-denominated financial statements | -2,157,071.00 | -1,888,828.00 | -4,145,288.00 | -8,191,187.00 |
| 3. Decreased amount of the period | 28,372,507.00 | 293,577,433.00 | 151,214,701.00 | 473,164,641.00 |
| (1) Disposal or scrap | 3,446,957.00 | 293,577,433.00 | 151,214,701.00 | 448,239,091.00 |
| (2) Other decreased amount | 24,925,550.00 | 0.00 | 0.00 | 24,925,550.00 |
| 4. Ending balance | 64,420,193,980.00 | 273,561,139,227.00 | 7,522,798,357.00 | 345,504,131,564.00 |
| II. Accumulative depreciation | ||||
| 1. Beginning balance | 6,298,998,834.00 | 93,606,173,935.00 | 3,437,354,358.00 | 103,342,527,127.00 |
| 2. Increased amount of the period | 820,936,797.00 | 14,786,695,271.00 | 684,923,054.00 | 16,292,555,122.00 |
| (1) Withdrawal | 822,056,424.00 | 14,791,742,161.00 | 686,005,455.00 | 16,299,804,040.00 |
| (2) Differences arising from translation of foreign currency-denominated financial statements | -1,119,627.00 | -5,046,890.00 | -1,082,401.00 | -7,248,918.00 |
| 3. Decreased amount of the period | 2,252,947.00 | 247,961,880.00 | 115,533,386.00 | 365,748,213.00 |
| (1) Disposal or scrap | 2,252,947.00 | 247,961,880.00 | 115,533,386.00 | 365,748,213.00 |
| 4. Ending balance | 7,117,682,684.00 | 108,144,907,326.00 | 4,006,744,026.00 | 119,269,334,036.00 |
| III. Depreciation reserves | ||||
| 1. Beginning balance | 1,073,381.00 | 1,182,586,123.00 | 77,787,025.00 | 1,261,446,529.00 |
| 2. Increased amount of the period | 0.00 | 437,361,555.00 | 80,555,861.00 | 517,917,416.00 |
| (1) Withdrawal | 0.00 | 437,361,555.00 | 80,555,861.00 | 517,917,416.00 |
| 3. Decreased amount of the period | 0.00 | 26,502,427.00 | 1,303,189.00 | 27,805,616.00 |
| (1) Disposal or scrap | 0.00 | 26,502,427.00 | 1,303,189.00 | 27,805,616.00 |
| 4. Ending balance | 1,073,381.00 | 1,593,445,251.00 | 157,039,697.00 | 1,751,558,329.00 |
| IV. Carrying value | ||||
| 1. Ending carrying value | 57,301,437,915.00 | 163,822,786,650.00 | 3,359,014,634.00 | 224,483,239,199.00 |
| 2. Beginning carrying value | 56,066,662,268.00 | 165,280,325,840.00 | 3,423,366,497.00 | 224,770,354,605.00 |
(2) Temporarily Idle Fixed Assets
Unit: RMB
| Item | Book value | Accumulated depreciation | Provision for impairment | Carrying amounts | Notes |
| N/A |
(3) Fixed Assets Leased out by Operating Lease
Unit: RMB
| Item | Ending carrying value |
| Fixed assets leased out by operating lease | 140,349,330.00 |
(4) List of Fixed Assets with Certificate of Title Uncompleted
On 30 June 2021, the carrying value of fixed assets with certificate of title uncompleted totaled RMB14,375,816,239.00, and thecertificate of title was in process.
(5) Disposal of Fixed Assets
Unit: RMB
| Item | Ending balance | Beginning balance |
| N/A | ||
| Total | 0.00 | 0.00 |
Other notes: N/A
17. Construction in Progress
Unit: RMB
| Item | Ending balance | Beginning balance |
| Construction in progress | 42,790,191,160.00 | 42,575,849,952.00 |
| Engineering materials | 0.00 | 0.00 |
| Total | 42,790,191,160.00 | 42,575,849,952.00 |
(1) List of Construction in Progress
Unit: RMB
| Item | Ending balance | Beginning balance | ||||
| Book value | Provision for impairment | Carrying amounts | Book value | Provision for impairment | Carrying amounts | |
| The 6th generation AMOLED (flexible) production line-Chongqing | 22,319,102,053.00 | 0.00 | 22,319,102,053.00 | 11,920,916,965.00 | 0.00 | 11,920,916,965.00 |
| The 6th generation AMOLED project Mianyang | 9,517,943,217.00 | 0.00 | 9,517,943,217.00 | 10,195,964,634.00 | 0.00 | 10,195,964,634.00 |
| The 10.5th generation TFT-LCD project Wuhan | 1,460,661,000.00 | 0.00 | 1,460,661,000.00 | 10,551,056,190.00 | 0.00 | 10,551,056,190.00 |
| Others | 9,575,522,404.00 | 83,037,514.00 | 9,492,484,890.00 | 9,907,912,163.00 | 0.00 | 9,907,912,163.00 |
| Total | 42,873,228,674.00 | 83,037,514.00 | 42,790,191,160.00 | 42,575,849,952.00 | 0.00 | 42,575,849,952.00 |
(2) Changes in Significant Construction in Progress during the Reporting Period
Unit: RMB
| Item | Budget | Beginning balance | Increased amount | Transfer in intangible assets | Other decreased amount during the Reporting Period | Ending balance | Proportion of accumulated investment in constructions to budget | Job schedule | Accumulated amount of interest capitalization | Of which: Amount of capitalized interests for the Reporting Period | Capitalization rate of interests for the Reporting Period | Sources of funding |
| The 6th generation AMOLED | 46,500,000,000.00 | 11,920,916,965.00 | 10,975,819,448.00 | 577,634,359.00 | 0.00 | 22,319,102,054.00 | 49.67% | 49.67% | 75,072,417.00 | 73,829,709.00 | 0.15% | Lending by financial |
| (flexible) production line-Chongqing | institutions | |||||||||||
| The 6th generation AMOLED project Mianyang | 46,500,000,000.00 | 10,195,964,634.00 | 827,559,354.00 | 1,505,580,771.00 | 0.00 | 9,517,943,217.00 | 91.10% | 91.10% | 1,295,761,491.00 | 97,231,712.00 | 0.85% | Lending by financial institutions |
| The 10.5th generation TFT-LCD project Wuhan | 46,000,000,000.00 | 10,551,056,190.00 | 1,034,255,128.00 | 10,124,513,227.00 | 137,091.00 | 1,460,661,000.00 | 79.63% | 79.63% | 1,063,424.00 | 25,169,417.00 | 3.23% | Lending by financial institutions |
| Total | 139,000,000,000.00 | 32,667,937,789.00 | 12,837,633,930.00 | 12,207,728,357.00 | 137,091.00 | 33,297,706,271.00 | -- | -- | 1,371,897,332.00 | 196,230,838.00 | -- |
(3) Provisions for Impairment of Construction in Progress during the Reporting Period
Unit: RMB
| Item | Withdrawal amount | Reason for withdrawal |
| KE8 whole machine automatic production line value project | 38,543,690.00 | Since the project failed to meet the preset technical specifications and could not be transferred to fixed assets, impairment provisions were withdrawn. |
| The intelligent manufacturing project of the mobile display system of BOE Optical Science and | 44,493,824.00 | Since the project was disused and could not further be transferred to fixed assets subsequently, impairment provisions were withdrawn. |
| Technology industrial park | ||
| Total | 83,037,514.00 | -- |
Other notes:
N/A
(4) Engineering Materials
Unit: RMB
| Item | Ending balance | Beginning balance | ||||
| Book value | Provision for impairment | Carrying amounts | Book value | Provision for impairment | Carrying amounts | |
| N/A | ||||||
| Total | ||||||
Other notes:
N/A
18. Right-of-Use Assets
Unit: RMB
| Item | Houses and buildings | Equipment | Others | Total |
| I. Original carrying value | ||||
| 1. Beginning balance | 376,911,028.00 | 107,357,735.00 | 158,144,293.00 | 642,413,056.00 |
| 2. Increased amount of the period | 29,495,706.00 | 0.00 | -8,736.00 | 29,486,970.00 |
| (1) Addition | 29,914,218.00 | 0.00 | 0.00 | 29,914,218.00 |
| (2) Exchange rate change | -418,512.00 | 0.00 | -8,736.00 | -427,248.00 |
| 3. Decreased amount of the period | 1,055,744.00 | 0.00 | 246,739.00 | 1,302,483.00 |
| 4. Ending balance | 405,350,990.00 | 107,357,735.00 | 157,888,818.00 | 670,597,543.00 |
| II. Accumulative depreciation | ||||
| 1. Beginning balance | 4,864,383.00 | 17,553,554.00 | 0.00 | 22,417,937.00 |
| 2. Increased amount of the period | 44,463,048.00 | 1,573,196.00 | 3,961,334.00 | 49,997,578.00 |
| (1) Withdrawal | 44,501,727.00 | 1,573,196.00 | 3,964,396.00 | 50,039,319.00 |
| (2) Exchange rate change | -38,679.00 | 0.00 | -3,062.00 | -41,741.00 |
| 3. Decreased amount of the period | 1,055,744.00 | 0.00 | 0.00 | 1,055,744.00 |
| (1) Disposal | 1,055,744.00 | 0.00 | 0.00 | 1,055,744.00 |
| 4. Ending balance | 48,271,687.00 | 19,126,750.00 | 3,961,334.00 | 71,359,771.00 |
| 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 | 357,079,303.00 | 88,230,985.00 | 153,927,484.00 | 599,237,772.00 |
| 2. Beginning carrying value | 372,046,645.00 | 89,804,181.00 | 158,144,293.00 | 619,995,119.00 |
Other notes:
N/A
19. Intangible Assets
(1) List of Intangible Assets
Unit: RMB
| Item | Land use rights | Patent | Non-patent technology | Patent and proprietary technology | Computer software | Others | Total |
| I. Original carrying value | |||||||
| 1. Beginning balance | 5,252,723,967.00 | 0.00 | 0.00 | 6,942,969,070.00 | 1,538,996,080.00 | 1,551,008,011.00 | 15,285,697,128.00 |
| 2. Increased amount of the period | 426,818.00 | 0.00 | 0.00 | -5,254,147.00 | 19,048,488.00 | -346,680.00 | 13,874,479.00 |
| (1) Purchase | 0.00 | 0.00 | 0.00 | 0.00 | 8,063,177.00 | 0.00 | 8,063,177.00 |
| (2) Internal R&D | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| (3) Business combination increase | 0.00 | 0.00 | 0.00 | 23,036,292.00 | 0.00 | 0.00 | 23,036,292.00 |
| (4) Transfer from construction in progress | 426,818.00 | 0.00 | 0.00 | 0.00 | 10,997,079.00 | 0.00 | 11,423,897.00 |
| (5) Exchange rate change | 0.00 | 0.00 | 0.00 | -28,290,439.00 | -11,768.00 | -346,680.00 | -28,648,887.00 |
| 3. Decreased amount of the period | 0.00 | 0.00 | 0.00 | 0.00 | 2,599,497.00 | 0.00 | 2,599,497.00 |
| (1) Disposal | 0.00 | 0.00 | 0.00 | 0.00 | 2,599,497.00 | 0.00 | 2,599,497.00 |
| 4. Ending balance | 5,253,150,785.00 | 0.00 | 0.00 | 6,937,714,923.00 | 1,555,445,071.00 | 1,550,661,331.00 | 15,296,972,110.00 |
| II. Accumulated amortization | |||||||
| 1. Beginning balance | 398,056,104.00 | 0.00 | 0.00 | 1,950,769,869.00 | 808,673,901.00 | 252,270,806.00 | 3,409,770,680.00 |
| 2. Increased amount of the period | 63,135,102.00 | 0.00 | 0.00 | 325,233,720.00 | 104,996,983.00 | 45,413,433.00 | 538,779,238.00 |
| (1) Withdrawal | 63,135,102.00 | 0.00 | 0.00 | 325,233,720.00 | 104,996,983.00 | 45,413,433.00 | 538,779,238.00 |
| 3. Decreased amount of the period | 0.00 | 0.00 | 0.00 | 0.00 | 2,536,698.00 | 0.00 | 2,536,698.00 |
| (1) Disposal | 0.00 | 0.00 | 0.00 | 0.00 | 2,536,698.00 | 0.00 | 2,536,698.00 |
| 4. Ending balance | 461,191,206.00 | 0.00 | 0.00 | 2,276,003,589.00 | 911,134,186.00 | 297,684,239.00 | 3,946,013,220.00 |
| III. Depreciation reserves | |||||||
| 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 | 4,791,959,579.00 | 0.00 | 0.00 | 4,661,711,334.00 | 644,310,885.00 | 1,252,977,092.00 | 11,350,958,890.00 |
| 2. Beginning carrying value | 4,854,667,863.00 | 0.00 | 0.00 | 4,992,199,201.00 | 730,322,179.00 | 1,298,737,205.00 | 11,875,926,448.00 |
The proportion of intangible assets generated from the internal R&D of the Company to the balance of intangible assets at the period-end: 0.00%.
(2) Land Use Right with Certificate of Title Uncompleted
As at 30 June 2021, the carrying value of land use right with certificate of title uncompleted totaled RMB4,380,868,454.00.
20. 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 | Disposals | |||
| Beijing Yinghe Century Co., Ltd. | 42,940,434.00 | 0.00 | 0.00 | 42,940,434.00 |
| Suzhou K-Tronics 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 Healthcare Investment & Management Co., Ltd. | 146,460,790.00 | 0.00 | 0.00 | 146,460,790.00 |
| SES Imagotag SA Co.Ltd. | 706,406,821.00 | 0.00 | 0.00 | 706,406,821.00 |
| Nanjing BOE Display Technology Co., Ltd. | 155,714,415.00 | 0.00 | 0.00 | 155,714,415.00 |
| Chengdu CEC Panda Display Technology Co., Ltd. | 537,038,971.00 | 0.00 | 0.00 | 537,038,971.00 |
| Total | 1,601,547,771.00 | 0.00 | 0.00 | 1,601,547,771.00 |
(2) Provisions for Impairment of Goodwill
Unit: RMB
| Name of the invested units or events generating goodwill | Beginning balance | Increase | Decrease | Ending balance | ||
| Withdrawal | Disposals | |||||
| Beijing BOE Optoelectronics Technology Co., Ltd. | 4,423,876.00 | 0.00 | 0.00 | 0.00 | 0.00 | 4,423,876.00 |
| SES Imagotag SA Co.Ltd. | 196,766,653.00 | 0.00 | 0.00 | 0.00 | 0.00 | 196,766,653.00 |
| Total | 201,190,529.00 | 0.00 | 0.00 | 0.00 | 0.00 | 201,190,529.00 |
Information of assets group or the combination of assets group where goodwill isN/ANotes of the testing process of goodwill impairment, key parameters(growth rate of predictive period in estimating he present valueof future cash flow, grow rate of stable period, profit rate, discount rate, predictive period, etc.) and the recognition method ofgoodwill impairment losses:
N/AThe influence of testing goodwill
N/AOther notes:
N/A
21. Long-term Prepaid Expense
Unit: RMB
| Item | Beginning balance | Increased amount | Amortization amount of the period | Other decreased amount | Ending balance |
| Payment for public facilities construction and use | 67,332,342.00 | 0.00 | 10,729,088.00 | 0.00 | 56,603,254.00 |
| Cost of operating lease assets improvement | 14,172,826.00 | 6,411,920.00 | 5,850,901.00 | 0.00 | 14,733,845.00 |
| Others | 204,148,317.00 | 393,852,411.00 | 56,721,206.00 | 88,684.00 | 541,190,838.00 |
| Total | 285,653,485.00 | 400,264,331.00 | 73,301,195.00 | 88,684.00 | 612,527,937.00 |
Other notes:
N/A
22. Deferred Income Tax Assets/Deferred Income Tax Liabilities
(1) Deferred Income Tax Assets Had Not Been Off-set
Unit: RMB
| Item | Ending balance | Beginning balance | ||
| Deductible temporary differences | Deferred tax assets | Deductible temporary differences | Deferred tax assets | |
| Provision for impairment of assets | 118,092,267.00 | 26,150,984.00 | 122,139,756.00 | 27,180,254.00 |
| Internal unrealized profit | 0.00 | 0.00 | 0.00 | 0.00 |
| Deductible tax losses | 51,875,506.00 | 8,564,931.00 | 424,212,759.00 | 132,565,377.00 |
| Changes in fair value of investments in other equity instruments | 137,598,574.00 | 20,639,786.00 | 121,789,193.00 | 18,268,379.00 |
| Depreciation of fixed assets | 178,676,182.00 | 30,059,805.00 | 179,801,722.00 | 30,341,276.00 |
| Assessed value added by investing real estate in subsidiaries | 128,226,195.00 | 32,056,549.00 | 131,003,100.00 | 32,750,775.00 |
| Others | 37,830,926.00 | 5,693,724.00 | 64,633,800.00 | 14,628,946.00 |
| Total | 652,299,650.00 | 123,165,779.00 | 1,043,580,330.00 | 255,735,007.00 |
(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 | |
| Revaluation due to business combinations involving entities not under common control | 2,321,077,229.00 | 685,236,839.00 | 2,395,173,489.00 | 713,559,149.00 |
| Changes in fair value of investment in other debt obligations | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in fair value of investments in other equity instruments | 0.00 | 0.00 | 0.00 | 0.00 |
| Depreciation of fixed assets | 5,749,659,365.00 | 889,439,806.00 | 4,622,699,062.00 | 721,371,438.00 |
| Long-term equity investments | 120,141,687.00 | 18,021,253.00 | 120,141,687.00 | 18,021,253.00 |
| Others | 147,213,571.00 | 27,047,160.00 | 142,029,410.00 | 25,343,233.00 |
| Total | 8,338,091,852.00 | 1,619,745,058.00 | 7,280,043,648.00 | 1,478,295,073.00 |
(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 | Ending balance of deferred income tax assets or liabilities after off-set | Mutual set-off amount of deferred income tax assets and liabilities at the period-begin | Beginning balance of deferred income tax assets or liabilities after off-set |
| Deferred tax assets | 53,065,326.00 | 70,100,453.00 | 50,693,919.00 | 205,041,088.00 |
| Deferred tax liabilities | 53,065,326.00 | 1,566,679,732.00 | 50,693,919.00 | 1,427,601,154.00 |
(4) List of Unrecognized Deferred Income Tax Assets
Unit: RMB
| Item | Ending balance | Beginning balance |
| Deductible temporary differences | 16,433,674,565.00 | 16,442,282,572.00 |
| Deductible tax losses | 20,915,582,781.00 | 25,680,094,343.00 |
| Total | 37,349,257,346.00 | 42,122,376,915.00 |
(5) Deductible Losses of Unrecognized Deferred Income Tax Assets will Due in the Following Years
Unit: RMB
| Year | Ending amount | Beginning amount | Notes |
| 2021 | 102,645,613.00 | 78,927,101.00 | N/A |
| 2022 | 98,246,826.00 | 416,996,721.00 | N/A |
| 2023 | 135,362,224.00 | 518,668,889.00 | N/A |
| 2024 | 360,856,618.00 | 1,129,623,213.00 | N/A |
| 2025 | 1,906,800,069.00 | 2,987,078,958.00 | N/A |
| 2026 | 1,392,445,769.00 | 848,779,232.00 | N/A |
| 2027 | 32,297,550.00 | 128,972,134.00 | N/A |
| 2028 | 2,696,282,356.00 | 5,149,658,963.00 | N/A |
| 2029 | 7,681,944,414.00 | 10,575,127,795.00 | N/A |
| 2030 | 3,342,865,531.00 | 2,846,283,820.00 | N/A |
| 2031 | 2,741,166,985.00 | 0.00 | N/A |
| Others | 424,668,826.00 | 999,977,517.00 | N/A |
| Total | 20,915,582,781.00 | 25,680,094,343.00 | -- |
Other notes:
N/A
23. Other Non-current Assets
Unit: RMB
| Item | Ending balance | Beginning balance | ||||
| Book value | Provision for impairment | Carrying amounts | Book value | Provision for impairment | Carrying amounts | |
| Contract acquisition cost of | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Costs to fulfil a contract with a customer | 14,415,767.00 | 0.00 | 14,415,767.00 | 0.00 | 0.00 | 0.00 |
| Costs receivables for recovering products from a customer | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Contract assets | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Deferred VAT for imported equipment | 1,644,509,638.00 | 0.00 | 1,644,509,638.00 | 2,444,720,228.00 | 0.00 | 2,444,720,228.00 |
| Prepayment for fixed assets | 580,885,477.00 | 0.00 | 580,885,477.00 | 1,476,495,591.00 | 0.00 | 1,476,495,591.00 |
| VAT on tax credits | 3,301,993,510.00 | 0.00 | 3,301,993,510.00 | 3,720,414,204.00 | 0.00 | 3,720,414,204.00 |
| Prepayments for construction | 147,880,815.00 | 0.00 | 147,880,815.00 | 130,568,100.00 | 0.00 | 130,568,100.00 |
| Gains from transfer of exploration right | 512,802,600.00 | 0.00 | 512,802,600.00 | 512,802,600.00 | 0.00 | 512,802,600.00 |
| Others | 329,993,548.00 | 0.00 | 329,993,548.00 | 339,969,296.00 | 0.00 | 339,969,296.00 |
| Total | 6,532,481,355.00 | 0.00 | 6,532,481,355.00 | 8,624,970,019.00 | 0.00 | 8,624,970,019.00 |
Other notes:
N/A
24. Short-term Borrowings
(1) Category of Short-term Borrowings
Unit: RMB
| Item | Ending balance | Beginning balance |
| Pledge loan | 0.00 | 0.00 |
| Mortgage loan | 0.00 | 600,623,333.00 |
| Guaranteed loan | 3,350,216,061.00 | 4,117,356,012.00 |
| Credit loan | 2,543,671,321.00 | 3,881,590,126.00 |
| Total | 5,893,887,382.00 | 8,599,569,471.00 |
Notes of category of short-term borrowings:
N/A
(2) Overdue and Outstanding Short-term Borrowings
The total overdue and outstanding short-term borrowings was RMB0.00, of which, the significant ones were listed as follows:
Unit: RMB
| Borrower | Ending balance | Loan interest rate | Overdue time | Overdue charge rate |
| N/A | ||||
| Total | —— | —— | —— |
Other notes: N/A
25. Notes Payable
Unit: RMB
| Item | Ending balance | Beginning balance |
| Commercial acceptance bills | 68,323,122.00 | 100,709,756.00 |
| Bank acceptance bills | 317,588,359.00 | 1,130,824,139.00 |
| Total | 385,911,481.00 | 1,231,533,895.00 |
The total overdue and outstanding notes payable at the period-end were RMB0.00.
26. Accounts Payable
(1) List of Accounts Payable
Unit: RMB
| Item | Ending balance | Beginning balance |
| Payables to related parties | 151,422,772.00 | 108,759,439.00 |
| Payables to third parties | 34,369,698,871.00 | 27,055,412,243.00 |
| Total | 34,521,121,643.00 | 27,164,171,682.00 |
(2) Significant Accounts Payable Aging over One Year
Unit: RMB
| Item | Ending balance | Unpaid/Un-carry-over reason |
| N/A | ||
| Total |
Other notes: N/A
27. Advances from Customers
(1) List of Advances from Customers
Unit: RMB
| Item | Ending balance | Beginning balance |
| Advances from third parties | 208,523,536.00 | 118,022,230.00 |
| Advances from related parties | 6,118,783.00 | 6,018,519.00 |
| Total | 214,642,319.00 | 124,040,749.00 |
(2) Significant Advances from Customers Aging over One Year
The Group has no significant advances from customers aging over one year.
28. Contract Liabilities
Unit: RMB
| Item | Ending balance | Beginning balance |
| Sale of goods | 3,513,356,959.00 | 3,440,720,535.00 |
| Total | 3,513,356,959.00 | 3,440,720,535.00 |
The amount of significant changes of carrying value and reason during the Reporting Period:
Unit: RMB
| Item | Amount changed | Reason |
| N/A | ||
| Total | —— |
29. Payroll Payable
(1) List of Payroll Payable
Unit: RMB
| Item | Beginning balance | Increase | Decrease | Ending balance |
| I. Short-term salary | 3,733,572,462.00 | 9,675,025,642.00 | 8,845,210,317.00 | 4,563,387,787.00 |
| II. Post-employment benefit-defined contribution plans | 21,628,033.00 | 526,398,888.00 | 510,262,925.00 | 37,763,996.00 |
| III. Termination benefits | 3,423,302.00 | 8,434,288.00 | 8,658,514.00 | 3,199,076.00 |
| IV. Other benefits due within one year | 0.00 | 0.00 | 0.00 | 0.00 |
| Total | 3,758,623,797.00 | 10,209,858,818.00 | 9,364,131,756.00 | 4,604,350,859.00 |
(2) List of Short-term Salary
Unit: RMB
| Item | Beginning balance | Increase | Decrease | Ending balance |
| Salary, bonus, allowance, subsidy | 3,184,794,255.00 | 8,379,666,501.00 | 7,659,990,032.00 | 3,904,470,724.00 |
| 2. Employee welfare | 0.00 | 456,768,648.00 | 456,768,648.00 | 0.00 |
| 3. Social insurance | 32,667,412.00 | 281,126,245.00 | 290,166,830.00 | 23,626,827.00 |
| Of which: Medical insurance premiums | 29,551,408.00 | 259,055,632.00 | 269,095,766.00 | 19,511,274.00 |
| Work-related injury insurance | 1,614,132.00 | 14,296,627.00 | 13,373,489.00 | 2,537,270.00 |
| Maternity insurance | 1,501,872.00 | 7,773,986.00 | 7,697,575.00 | 1,578,283.00 |
| 4. Housing fund | 27,141,059.00 | 318,883,662.00 | 319,832,304.00 | 26,192,417.00 |
| 5.Labor union budget and employee education budget | 467,724,919.00 | 201,834,787.00 | 86,536,051.00 | 583,023,655.00 |
| 6. Short-term compensated absence | 0.00 | 0.00 | 0.00 | 0.00 |
| 7. Short-term profit-sharing plan | 0.00 | 0.00 | 0.00 | 0.00 |
| 8. Other short-term salary | 21,244,817.00 | 36,745,799.00 | 31,916,452.00 | 26,074,164.00 |
| Total | 3,733,572,462.00 | 9,675,025,642.00 | 8,845,210,317.00 | 4,563,387,787.00 |
(3) List of Defined Contribution Plans
Unit: RMB
| Item | Beginning balance | Increase | Decrease | Ending balance |
| 1. Basic pension benefits | 19,052,829.00 | 481,744,470.00 | 466,253,709.00 | 34,543,590.00 |
| 2. Unemployment insurance | 1,110,934.00 | 23,371,636.00 | 23,159,290.00 | 1,323,280.00 |
| 3. Annuity | 1,464,270.00 | 21,282,782.00 | 20,849,926.00 | 1,897,126.00 |
| Total | 21,628,033.00 | 526,398,888.00 | 510,262,925.00 | 37,763,996.00 |
Other notes:
30. Taxes Payable
Unit: RMB
| Item | Ending balance | Beginning balance |
| Value-added tax | 53,212,058.00 | 40,678,414.00 |
| Consumption tax | 0.00 | 0.00 |
| Corporate income tax | 1,147,438,959.00 | 442,103,385.00 |
| Individual income tax | 38,415,905.00 | 60,823,097.00 |
| City maintenance and construction tax | 357,585,703.00 | 239,633,339.00 |
| Education surcharges and local education surcharges | 256,009,273.00 | 171,225,887.00 |
| Others | 152,049,469.00 | 123,222,747.00 |
| Total | 2,004,711,367.00 | 1,077,686,869.00 |
Other notes:
N/A
31. Other Payables
Unit: RMB
| Item | Ending balance | Beginning balance |
| Interest payable | 722,695.00 | 1,946,267.00 |
| Dividends payable | 20,495,428.00 | 6,451,171.00 |
| Other payables | 28,112,257,684.00 | 32,859,311,586.00 |
| Total | 28,133,475,807.00 | 32,867,709,024.00 |
(1) Interest Payable
Unit: RMB
| Item | Ending balance | Beginning balance |
| Long-term loan interest of installment | 0.00 | 0.00 |
| payment of interest and repay the due capital | ||
| Enterprise bond interest | 0.00 | 0.00 |
| Interest paid for short-term borrowings | 722,695.00 | 1,946,267.00 |
| Interest of preferred shares/perpetual bonds classified as financial liabilities | 0.00 | 0.00 |
| Others | 0.00 | 0.00 |
| Total | 722,695.00 | 1,946,267.00 |
Significant overdue and outstanding interests:
Unit: RMB
| Borrower | Overdue amount | Reason |
| N/A | ||
| Total | —— |
Other notes: N/A
(2) Dividends Payable
Unit: RMB
| Item | Ending balance | Beginning balance |
| Ordinary share dividends | 20,495,428.00 | 6,451,171.00 |
| Dividends of preferred shares/perpetual bonds classified as equity instruments | 0.00 | 0.00 |
| Total | 20,495,428.00 | 6,451,171.00 |
Other notes, including the reason for unpayment of significant dividends payable unpaid for over one year: None
(3) Other Accounts Payable
1) Other Accounts Payable Listed by Nature of Account
Unit: RMB
| Item | Ending balance | Beginning balance |
| Projects and equipment | 18,495,740,129.00 | 22,081,009,426.00 |
| Fund transaction | 3,050,406,568.00 | 3,044,729,475.00 |
| Equity acquisition fee | 2,236,488,561.00 | 2,236,488,561.00 |
| Deferred VAT for imported equipment | 1,118,961,930.00 | 1,920,558,529.00 |
| Repurchase obligation of restricted shares | 875,333,536.00 | 875,333,536.00 |
| Pre-withdrawal water and electricity & logistics freight | 605,251,407.00 | 711,995,694.00 |
| Margin | 550,703,857.00 | 576,740,323.00 |
| External agency fee | 35,443,063.00 | 95,378,987.00 |
| Others | 1,143,928,633.00 | 1,317,077,055.00 |
| Total | 28,112,257,684.00 | 32,859,311,586.00 |
2) Significant Other Accounts Payable Aging over One Year
Unit: RMB
| Item | Ending balance | Unpaid/Un-carry-over reason |
| N/A | ||
| Total |
Other notes: N/A
32. Non-current Liabilities Due within One Year
Unit: RMB
| Item | Ending balance | Beginning balance |
| Long-term loans due within 1 year | 20,190,928,616.00 | 23,521,529,001.00 |
| Bonds payable due within 1 year | 0.00 | 0.00 |
| Long-term accounts payable due within 1 year | 863,469,148.00 | 970,462,538.00 |
| Lease liabilities due within 1 year | 30,465,023.00 | 46,428,628.00 |
| Total | 21,084,862,787.00 | 24,538,420,167.00 |
Other notes:
The interest rate of RMB long-term loans due within one year for the Group ranged from 0% to 5.88% in 2021 (2020: from 0% to
5.88%).
33. Other Current Liabilities
Unit: RMB
| Item | Ending balance | Beginning balance |
| Short-term bonds payable | 0.00 | 0.00 |
| Refund liability | 103,173,583.00 | 144,834,876.00 |
| Warranty provisions | 2,425,781,641.00 | 1,615,534,790.00 |
| Pending output VAT | 278,214,253.00 | 278,791,002.00 |
| Others | 88,432,153.00 | 155,556,184.00 |
| Total | 2,895,601,630.00 | 2,194,716,852.00 |
Increase or decrease in short-term bonds payable:
Unit: RMB
| Debenture | Face value | Issuance date | Maturity period | Issuance amount | Beginning balance | Issued in the Current Period | Interest at face value | Amortization of premium and depreciation | Repayment during the period | Ending balance | |
| N/A | |||||||||||
| Total | —— | —— | —— |
Other notes:
N/A
34. Long-term Borrowings
(1) Category of Long-term Borrowings
Unit: RMB
| Item | Ending balance | Beginning balance |
| Pledge loan | 604,337,067.00 | 1,013,068,498.00 |
| Mortgage loan | 84,238,939,663.00 | 86,808,171,431.00 |
| Guaranteed loan | 3,461,547,083.00 | 3,243,676,147.00 |
| Credit loan | 43,921,434,796.00 | 41,387,851,059.00 |
| Total | 132,226,258,609.00 | 132,452,767,135.00 |
Notes of the category of long-term borrowings:
N/AOther notes, including the interest rate range:
The interest rate of RMB long-term loans for the Group ranged from 0% to 5.90% in 2021 (2020: from 0% to 5.90%).
35. Bonds Payable
(1) Bonds Payable
Unit: RMB
| Item | Ending balance | Beginning balance |
| EuroPP | 389,542,003.00 | 398,971,739.00 |
| Total | 389,542,003.00 | 398,971,739.00 |
(2) Increase/Decrease of Bonds Payable (Excluding Other Financial Instruments Classified as Financial Liabilities such as Preferred Shares and PerpetualBonds)
Unit: RMB
| Debenture | Face value | Issuance date | Maturity period | Issuance amount | Beginning balance | Issued in the Current Period | Interest at face value | Amortization of premium and depreciation | Repayment during the period | Translation differences arising from translation of foreign currency financial statements | Ending balance |
| EuroPP | 78,473,000.00 | 2016.12.29 | 7 years | 78,473,000.00 | 79,866,803.00 | 0.00 | 1,356,870.00 | 55,253.00 | 0.00 | -3,395,593.00 | 77,883,333.00 |
| EuroPP | 235,419,000.00 | 2017.03.29 | 6 years | 235,419,000.00 | 239,802,540.00 | 0.00 | 4,070,611.00 | 204,087.00 | 0.00 | -10,195,958.00 | 233,881,280.00 |
| EuroPP | 75,977,975.00 | 2019.07.22 | 6 years | 75,977,975.00 | 79,302,396.00 | 0.00 | 1,763,931.00 | 90,270.00 | 0.00 | -3,379,207.00 | 77,777,390.00 |
| Total | -- | -- | -- | 389,869,975.00 | 398,971,739.00 | 0.00 | 7,191,412.00 | 349,610.00 | 0.00 | -16,970,758.00 | 389,542,003.00 |
(3) Explanations on Share Transfer Conditions and Time for Convertible Corporate Bonds
N/A
(4) Other Financial Instruments Classified as Financial Liabilities
Basic situation of other financial instruments outstanding at the period-end such preferred shares and perpetual bondsN/AChanges in financial instruments outstanding at the period-end such preferred shares and perpetual liabilities
Unit: RMB
| Outstanding financial instruments | Period-beginning | Increase | Decrease | Period-end | ||||
| Quantity | Carrying amounts | Quantity | Carrying amounts | Quantity | Carrying amounts | Quantity | Carrying amounts | |
| N/A | ||||||||
| Total | ||||||||
Notes to the basis of classifying other financial instruments as financial liabilitiesN/AOther notes: N/A
36. Lease Liabilities
Unit: RMB
| Item | Ending balance | Beginning balance |
| Lease liabilities | 547,150,126.00 | 565,344,418.00 |
| Total | 547,150,126.00 | 565,344,418.00 |
Other notes:
N/A
37. Long-term Accounts Payable
Unit: RMB
| Item | Ending balance | Beginning balance |
| Long-term payables | 1,414,366,149.00 | 2,012,337,567.00 |
| Specific payables | 0.00 | 0.00 |
| Total | 1,414,366,149.00 | 2,012,337,567.00 |
(1) Long-term Accounts Payable Listed by Nature of Account
Unit: RMB
| Item | Ending balance | Beginning balance |
| Long-term payables | 1,414,366,149.00 | 2,012,337,567.00 |
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:
38. Deferred Income
Unit: RMB
| Item | Beginning balance | Increase | Decrease | Ending balance | Formed reason |
| Government grants | 4,246,231,468.00 | 2,751,511,028.00 | 1,189,438,964.00 | 5,808,303,532.00 | Government grants |
| Total | 4,246,231,468.00 | 2,751,511,028.00 | 1,189,438,964.00 | 5,808,303,532.00 | -- |
Item involving government grants:
Unit: RMB
| Item | Beginning balance | Amount of newly subsidy | Amount recorded into non-operating income in the Reporting Period | Amount recorded into other income in Reporting Period | Amount offset cost in the Reporting Period | Other changes | Ending balance | Related to assets/related to income |
| related to assets | 2,846,739,619.00 | 941,378,294.00 | 0.00 | 171,893,814.00 | 0.00 | 70,329,500.00 | 3,545,894,599.00 | related to assets |
| related to income | 1,399,491,849.00 | 1,810,132,734.00 | 0.00 | 656,915,650.00 | 0.00 | 290,300,000.00 | 2,262,408,933.00 | related to income |
| Total | 4,246,231,468.00 | 2,751,511,028.00 | 0.00 | 828,809,464.00 | 0.00 | 360,629,500.00 | 5,808,303,532.00 | —— |
Other notes: N/A
39. 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 | 3,567,199,214.00 | 3,710,474,960.00 |
| Deferred VAT for imported equipment | 750,509,638.00 | 1,472,958,998.00 |
| Others | 59,280,195.00 | 76,567,485.00 |
| Total | 4,376,989,047.00 | 5,260,001,443.00 |
Other notes:
N/A
40. Share Capital
Unit: RMB
| Item | Beginning balance | Increase/decrease (+/-) | Ending balance | ||||
| New issues | Bonus shares | Bonus issue from profit | Others | Sub-total | |||
| Total shares | 34,798,398,763.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 34,798,398,763.00 |
Other notes: N/A
41. Other Equity Instrument
(1) The Basic Information of Other Financial Instruments such as Preferred Stock and Perpetual Bond Outstanding at the End of the Period
| Outstanding financial instruments | Issuance date | Accounting classification | Interest rate | Issuance price | Quantity | Amount | Maturity date or renewal status | Conditions for conversion | Conversion status |
| 19BOEY1 | 29 October 2019 | Equity instrument | 4.0% | RMB 100/bond | 80 million | RMB 8 billion | 3+N years | Not applicable | Not applicable |
| 20BOEY1 | 28 February 2020 | Equity instrument | 3.64% | RMB 100/bond | 20 million | RMB 2 billion | 3+N years | Not applicable | Not applicable |
| 20BOEY2 | 19 March 2020 | Equity instrument | 3.54% | RMB 100/bond | 20 million | RMB 2 billion | 3+N years | Not applicable | Not applicable |
| 20BOEY3 | 27/4/2020 | 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 amounts | Quantity | Carrying amounts | Quantity | Carrying amounts | Quantity | Carrying amounts | |
| 19BOEY1-original value | 80,000,000 | 7,957,047,264.00 | 0 | 0.00 | 0 | 0.00 | 80,000,000 | 7,957,047,264.00 |
| 20BOEY1original value | 20,000,000 | 1,989,179,245.00 | 0 | 0.00 | 0 | 0.00 | 20,000,000 | 1,989,179,245.00 |
| 20BOEY2original value | 20,000,000 | 1,989,320,755.00 | 0 | 0.00 | 0 | 0.00 | 20,000,000 | 1,989,320,755.00 |
| 20BOEY3original value | 20,000,000 | 1,989,415,094.00 | 0 | 0.00 | 0 | 0.00 | 20,000,000 | 1,989,415,094.00 |
| 19BOEY1-interest | 0 | 56,986,301.00 | 0 | 158,684,932.00 | 0 | 0.00 | 0 | 215,671,233.00 |
| 20BOEY1-interest | 0 | 61,431,233.00 | 0 | 36,100,822.00 | 0 | 72,800,000.00 | 0 | 24,732,055.00 |
| 20BOEY2-interest | 0 | 55,864,110.00 | 0 | 35,109,041.00 | 0 | 70,800,000.00 | 0 | 20,173,151.00 |
| 20BOEY3-interest | 0 | 47,753,425.00 | 0 | 34,712,328.00 | 0 | 70,000,000.00 | 0 | 12,465,753.00 |
| Total | 140,000,000 | 14,146,997,427.00 | 0 | 264,607,123.00 | 0 | 213,600,000.00 | 140,000,000 | 14,198,004,550.00 |
Changes in other equity instruments for the Current Period, explanation on reasons for the changes and basis for related accounting treatment:
On 30 June 2021, as the issued renewable corporate bonds aforementioned are classified as cumulative other equity instruments, the Company accrued interest of RMB264,607,123.00onrenewable corporate bonds from undistributed profits and paid interest of RMB213,600,000.00.Other notes:
N/A
42. Capital Reserves
Unit: RMB
| Item | Beginning balance | Increase | Decrease | Ending balance |
| Capital premium (premium on stock) | 37,546,517,053.00 | 2,851,741.00 | 0.00 | 37,549,368,794.00 |
| Other capital reserves | -110,861,119.00 | 653,190,440.00 | 1,029,805,509.00 | -487,476,188.00 |
| Total | 37,435,655,934.00 | 656,042,181.00 | 1,029,805,509.00 | 37,061,892,606.00 |
Other notes, including notes to increase and decrease during the Reporting Period and the reasons for changes:
N/A
43. Treasury shares
Unit: RMB
| Item | Beginning balance | Increase | Decrease | Ending balance |
| Repurchase of public shares | 1,036,298,508.00 | 0.00 | 0.00 | 1,036,298,508.00 |
| Total | 1,036,298,508.00 | 0.00 | 0.00 | 1,036,298,508.00 |
Other notes, including notes to increase and decrease during the Reporting Period and the reasons for changes:
N/A
44. Other Comprehensive Income
Unit: RMB
| Item | Beginning balance | Reporting Period | Ending balance | |||||
| Income before taxation in the Current Period | Less: Recorded in other comprehensive | Less: Recorded in other comprehensive | Less: Income tax expense | Net-of-tax amount attributable to shareholders of the Company | Net-of-tax amount attributable to non-controlling | |||
| income in prior period and transferred in profit or loss in the Current Period | income in prior period and transferred in retained earnings in the Current Period | interests | ||||||
| I. Other comprehensive income that will not be reclassified to profit or loss | 61,411,897.00 | -128,094,497.00 | 0.00 | 0.00 | -2,371,408.00 | -125,723,089.00 | 0.00 | -64,311,192.00 |
| 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 | 194,002,494.00 | -105,928,126.00 | 0.00 | 0.00 | 0.00 | -105,928,126.00 | 0.00 | 88,074,368.00 |
| Changes in fair value of investments in other equity instruments | -132,590,597.00 | -22,166,371.00 | 0.00 | 0.00 | -2,371,408.00 | -19,794,963.00 | 0.00 | -152,385,560.00 |
| 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 | -83,609,969.00 | 37,982,753.00 | 0.00 | 0.00 | 0.00 | 55,687,224.00 | -17,704,471.00 | -27,922,745.00 |
| Of which: Other comprehensive income that will be reclassified to profit or loss under equity method | 11,835.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 11,835.00 |
| 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 |
| Reserves 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 of foreign currency financial statements | -83,621,804.00 | 37,982,753.00 | 0.00 | 0.00 | 0.00 | 55,687,224.00 | -17,704,471.00 | -27,934,580.00 |
| Total of other comprehensive income | -22,198,072.00 | -90,111,744.00 | 0.00 | 0.00 | -2,371,408.00 | -70,035,865.00 | -17,704,471.00 | -92,233,937.00 |
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
BOE Technology Group Co., Ltd. Interim Report 2021
45. Surplus Reserves
Unit: RMB
| Item | Beginning balance | Increase | Decrease | Ending balance |
| Statutory surplus reserve | 2,154,745,360.00 | 4,161,389.00 | 0.00 | 2,158,906,749.00 |
| 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 | 2,444,416,669.00 | 4,161,389.00 | 0.00 | 2,448,578,058.00 |
Notes to surplus reserves, including the note to increase and decrease in the Reporting Period and the reason for changes:
N/A
46. Retained Profits
Unit: RMB
| Item | Reporting Period | Same period of last year |
| Opening balance of retained profits before adjustments | 15,509,794,622.00 | 12,381,758,005.00 |
| Total beginning balance of retained profits before adjustments (increase+, decrease-) | 0.00 | -533,906,114.00 |
| Beginning balance of retained profits after adjustments | 15,509,794,622.00 | 11,847,851,891.00 |
| Add: Net profit attributable to owners of the Company as the parent | 12,762,024,968.00 | 5,035,627,952.00 |
| Less: Appropriation for statutory surplus reserve | 0.00 | -373,919,158.00 |
| Withdrawal of discretional surplus reserves | 0.00 | 0.00 |
| Withdrawal of general reserve | 0.00 | 0.00 |
| Dividends to ordinary shares | 3,477,021,263.00 | 695,967,975.00 |
| Dividend of common stock transferred into share capital | 0.00 | 0.00 |
| Interest on holders of other equity instruments | -264,607,123.00 | -485,925,480.00 |
| Transfer of other comprehensive income to retained earnings | -37,452,500.00 | -171,164,417.00 |
BOE Technology Group Co., Ltd. Interim Report 2021
| Effect of accounting for disposal of subsidiaries to equity method | 0.00 | -3,454,053.00 |
| Others | 0.00 | -7,508,922.00 |
| Retained earnings | 24,567,643,704.00 | 15,509,794,622.00 |
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.
47. Operating Revenue and Cost of Sales
Unit: RMB
| Item | Reporting Period | Same period of last year | ||
| Income | Cost | Income | Cost | |
| Principal activities | 105,579,941,303.00 | 72,537,190,576.00 | 54,933,350,804.00 | 45,791,259,112.00 |
| Other operating activities | 1,705,385,723.00 | 1,208,698,455.00 | 1,817,978,261.00 | 1,362,587,556.00 |
| Total | 107,285,327,026.00 | 73,745,889,031.00 | 56,751,329,065.00 | 47,153,846,668.00 |
Relevant information of revenue
Unit: RMB
| Category of contracts | Segment 1 | Segment 2 | Total |
| Types of products | 0.00 | 0.00 | 0.00 |
| Of which: | |||
| By operating places | 0.00 | 0.00 | 0.00 |
| Of which: | |||
| By types of market or customers | 0.00 | 0.00 | 0.00 |
| Of which: | |||
| Types of contracts | 0.00 | 0.00 | 0.00 |
| Of which: | |||
| By the time of transferring goods | 0.00 | 0.00 | 0.00 |
| Of which: | |||
| By contract term | 0.00 | 0.00 | 0.00 |
| Of which: | |||
| By marketing channel | 0.00 | 0.00 | 0.00 |
BOE Technology Group Co., Ltd. Interim Report 2021
| Of which: | |||
| Total | 0.00 | 0.00 | 0.00 |
Information related to performance obligations:
The amount of revenue corresponding to performance obligations of contracts signed but not performed or not fully performed yetwas RMB0.00 at the period-end, among which RMB0.00 was expected to be recognized in 0 year, RMB0.00 in 0 year and RMB0.00in 0 year.
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 yetwas RMB0.00 at the period-end, among which RMB0.00 was expected to be recognized in 0 year, RMB0.00 in 0 year and RMB0.00in 0 year.Other notes:
N/A
48. Taxes and Surtaxes
Unit: RMB
| Item | Reporting Period | Same period of last year |
| Consumption tax | 0.00 | 0.00 |
| City maintenance and construction tax | 203,891,270.00 | 131,932,109.00 |
| Education Surcharge | 146,864,277.00 | 94,874,954.00 |
| Resources tax | 0.00 | 0.00 |
| Property tax | 292,983,778.00 | 192,626,452.00 |
| Land use tax | 28,491,208.00 | 19,149,316.00 |
| Vehicle and vessel tax | 0.00 | 0.00 |
| Stamp duty | 85,587,761.00 | 56,744,347.00 |
| Others | 36,086,062.00 | 17,286,935.00 |
| Total | 793,904,356.00 | 512,614,113.00 |
Other notes:
N/A
49. Selling Expense
Unit: RMB
| Item | Reporting Period | Same period of last year |
| Warranty provisions | 1,415,523,949.00 | 606,173,023.00 |
| Staff cost | 592,486,021.00 | 358,124,169.00 |
| Others | 287,492,372.00 | 486,528,292.00 |
BOE Technology Group Co., Ltd. Interim Report 2021
| Total | 2,295,502,342.00 | 1,450,825,484.00 |
Other notes:
N/A
50. Administrative Expense
Unit: RMB
| Item | Reporting Period | Same period of last year |
| Staff cost | 2,140,478,405.00 | 1,159,256,892.00 |
| Repair expense | 795,919,047.00 | 612,443,318.00 |
| Depreciation and amortization | 433,446,892.00 | 288,718,246.00 |
| Others | 660,578,994.00 | 457,178,194.00 |
| Total | 4,030,423,338.00 | 2,517,596,650.00 |
Other notes:
N/A
51. Development Costs
Unit: RMB
| Item | Reporting Period | Same period of last year |
| Staff cost | 2,552,552,731.00 | 1,417,861,105.00 |
| Material expenses | 1,107,308,334.00 | 607,485,518.00 |
| Depreciation and amortization | 968,153,920.00 | 708,260,662.00 |
| Others | 374,503,954.00 | 510,825,813.00 |
| Total | 5,002,518,939.00 | 3,244,433,098.00 |
Other notes:
N/A
52. Finance Costs
Unit: RMB
| Item | Reporting Period | Same period of last year |
| Interest expense | 2,438,979,548.00 | 1,498,088,250.00 |
| Interest income | -443,748,698.00 | -421,677,692.00 |
| Net loss on exchange | -295,822,911.00 | 92,435,224.00 |
| Others | 58,888,292.00 | 35,514,076.00 |
| Total | 1,758,296,231.00 | 1,204,359,858.00 |
Other notes:
BOE Technology Group Co., Ltd. Interim Report 2021
N/A
53. Other Income
Unit: RMB
| Sources | Reporting Period | Same period of last year |
| Government grants related to assets | 171,893,815.00 | 155,425,862.00 |
| Government grants related to income | 952,619,529.00 | 1,365,472,248.00 |
| Others | 7,265,880.00 | 4,619,905.00 |
| Total | 1,131,779,224.00 | 1,525,518,015.00 |
54. Investment Income
Unit: RMB
| Item | Reporting Period | Same period of last year |
| Income from long-term equity investments accounted for using equity method | 620,013.00 | -27,648,162.00 |
| Investment income from disposal of long-term equity investments | -1,490,516.00 | 0.00 |
| Investment income arising from holding of trading financial assets | 0.00 | 0.00 |
| Investment income from disposal of financial assets held for trading | 8,343,154.00 | 14,126,141.00 |
| Dividend income received from holding of other equity instrument investment | 16,450,665.00 | 10,349,867.00 |
| 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 | 2,013,425.00 | 10,281,395.00 |
| 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 | 8,032,226.00 |
| Gains from debt restructuring | 0.00 | 0.00 |
| Total | 25,936,741.00 | 15,141,467.00 |
Other notes:
N/A
BOE Technology Group Co., Ltd. Interim Report 2021
55. Gains from Changes in Fair Value
Unit: RMB
| Sources | Reporting Period | Same period of last year |
| Financial assets held for trading | 37,887,125.00 | 19,723,299.00 |
| 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 | 37,887,125.00 | 19,723,299.00 |
Other notes:
N/A
56. Credit Impairment Loss
Unit: RMB
| Item | Reporting Period | Same period of last year |
| Bad debt loss of other receivables | -45,495.00 | -4,584.00 |
| 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 |
| Bad debt loss of accounts receivables | -33,823,114.00 | 810,497.00 |
| Total | -33,868,609.00 | 805,913.00 |
Other notes:
N/A
57. Asset Impairment Loss
Unit: RMB
| Item | Reporting Period | Same period of last year |
| I. Bad debt loss | 0.00 | 0.00 |
| II. Loss on inventory valuation and contract performance cost | -1,706,491,865.00 | -1,633,588,287.00 |
| III. Impairment losses on long-term equity investment | 0.00 | 0.00 |
| IV. Impairment losses on investment property | 0.00 | 0.00 |
| V. Fixed assets impairment losses | -517,917,416.00 | -9,692,923.00 |
| VI. Impairment losses on engineering materials | 0.00 | 0.00 |
BOE Technology Group Co., Ltd. Interim Report 2021
| VII. Impairment losses on construction in progress | -83,037,514.00 | 0.00 |
| VIII. Impairment losses on productive living assets | 0.00 | 0.00 |
| IX. Impairment losses on oil and gas assets | 0.00 | 0.00 |
| X. Impairment losses on intangible assets | 0.00 | 0.00 |
| XI. Goodwill impairment losses | 0.00 | 0.00 |
| XII. Impairment Losses of Contract Assets | 0.00 | 0.00 |
| XIII. Others | 0.00 | 0.00 |
| Total | -2,307,446,795.00 | -1,643,281,210.00 |
Other notes:
N/A
58. Asset Disposal Income
Unit: RMB
| Sources | Reporting Period | Same period of last year |
| Gains from asset disposals | 152,606,846.00 | 11,657,251.00 |
59. 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 |
| Donations accepted | 0.00 | 0.00 | 0.00 |
| Government grants | 1,237,320.00 | 1,218,000.00 | 1,237,320.00 |
| Others | 46,878,482.00 | 50,975,491.00 | 46,878,482.00 |
| Total | 48,115,802.00 | 52,193,491.00 | 48,115,802.00 |
Government grants recorded into current profit or loss:
Unit: RMB
| Item | Distribution entity | Distribution reason | Nature | Whether subsidies influence the current profit or loss | Special subsidy or not | Reporting Period | Same period of last year | Related to assets/related to income |
| Policy incentives and others | Municipal People’s Government, | Subsidy | Due to engage in special industry that the state encouraged | No | No | 1,237,320.00 | 1,218,000.00 | related to income |
BOE Technology Group Co., Ltd. Interim Report 2021
| National Development and Reform Commission, Bureau of Finance, etc. | and supported, gained subsidy (obtaining in line with the law and the regulations of national policy) |
Other notes:
N/A
60. 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 | 1,605,298.00 | 11,196,143.00 | 1,605,298.00 |
| Others | 19,942,843.00 | 21,563,402.00 | 19,942,843.00 |
| Total | 21,548,141.00 | 32,759,545.00 | 21,548,141.00 |
Other notes:
N/A
61. Income Tax Expense
(1) List of Income Tax Expense
Unit: RMB
| Item | Reporting Period | Same period of last year |
| Current income tax expense | 1,984,034,420.00 | 476,420,992.00 |
| Deferred income tax expense | 276,390,618.00 | 19,386,032.00 |
| Total | 2,260,425,038.00 | 495,807,024.00 |
(2) Adjustment Process of Accounting Profit and Income Tax Expense
Unit: RMB
| Item | Reporting Period |
| Profit before taxation | 18,692,254,982.00 |
| Current income tax expense accounted at statutory/applicable tax rate | 2,803,838,247.00 |
| Influence of applying different tax rates by subsidiaries | 107,451,063.00 |
BOE Technology Group Co., Ltd. Interim Report 2021
| Influence of income tax before adjustment | 0.00 |
| Influence of non-taxable income | -3,948,241.00 |
| Effect of non-deductible costs, expense and losses | 1,817,214.00 |
| Influence of deductible loss of unrecognized deferred income tax assets in prior period | -1,486,243,221.00 |
| Influence of deductible temporary difference or deductible loss of unrecognized deferred income tax assets in the Reporting Period | 579,811,751.00 |
| Others | 257,698,225.00 |
| Income tax expenses | 2,260,425,038.00 |
Other notes:
N/A
62. Other Comprehensive Income
Refer to Notes 44 for details.
63. Cash Flow Statement
(1) Cash Generated from Other Operating Activities
Unit: RMB
| Item | Reporting Period | Same period of last year |
| Government grants related to income | 3,304,516,231.00 | 2,051,309,903.00 |
| Restricted deposits and others | 353,503,906.00 | 1,102,982,569.00 |
| Total | 3,658,020,137.00 | 3,154,292,472.00 |
Notes: NoneN/A
(2) Cash Used in Other Operating Activities
Unit: RMB
| Item | Reporting Period | Same period of last year |
| Daily expenditure paid | 2,071,733,547.00 | 1,730,224,599.00 |
| Daily operation margins, deposits, and others paid | 289,513,172.00 | 511,195,301.00 |
| Total | 2,361,246,719.00 | 2,241,419,900.00 |
Notes:
N/A
BOE Technology Group Co., Ltd. Interim Report 2021
(3) Cash Generated from Other Investing Activities
Unit: RMB
| Item | Reporting Period | Same period of last year |
| Interest income from investment activities | 206,651,265.00 | 101,645,769.00 |
| Investment-based margins and others received | 374,042,465.00 | 58,229,978.00 |
| Total | 580,693,730.00 | 159,875,747.00 |
Notes:
N/A
(4) Cash Used in Other Investing Activities
Unit: RMB
| Item | Reporting Period | Same period of last year |
| Increase in restricted deposits in financial institutions | 286,150,106.00 | 23,276,426.00 |
| Investment-based margins and others returned | 41,492,057.00 | 27,307,468.00 |
| Total | 327,642,163.00 | 50,583,894.00 |
Notes:
N/A
(5) Cash Generated from Other Financing Activities
Unit: RMB
| Item | Reporting Period | Same period of last year |
| Recovery of restricted deposits in financial institutions | 1,007,134,885.00 | 1,400,844,492.00 |
| Individual income tax and others withheld by A-B Shares | 43,781,204.00 | 35,430,043.00 |
| Total | 1,050,916,089.00 | 1,436,274,535.00 |
Notes:
N/A
(6) Cash Used in Other Financing Activities
Unit: RMB
| Item | Reporting Period | Same period of last year |
BOE Technology Group Co., Ltd. Interim Report 2021
| Repurchase of equities of non-controlling shareholders | 6,489,085,322.00 | 0.00 |
| Leasing-related principals and interests and others | 935,347,581.00 | 207,794,479.00 |
| Total | 7,424,432,903.00 | 207,794,479.00 |
Notes:
N/A
64. 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 flows generated from operating activities: | -- | -- |
| Net profit | 16,431,829,944.00 | 120,844,851.00 |
| Add: Provision for impairment of assets | 2,341,315,404.00 | 1,644,087,123.00 |
| Depreciation of fixed assets, oil-gas assets, and productive living assets | 16,104,794,927.00 | 9,733,828,170.00 |
| Depreciation of right-to-use assets | 164,503,238.00 | 0.00 |
| Amortization of intangible assets | 528,499,995.00 | 151,109,865.00 |
| Amortization of long-term deferred expenses | 66,159,277.00 | 66,705,586.00 |
| Losses on disposal of fixed assets, intangible assets and other long-lived assets (gains: negative) | -152,137,294.00 | -3,754,816.00 |
| Losses on scrap of fixed assets (gains: negative) | 3,074,286.00 | 11,267,094.00 |
| Losses from variation of fair value (gains: negative) | -37,887,125.00 | -19,723,299.00 |
| Finance costs (gains: negative) | 1,886,733,641.00 | 1,356,619,662.00 |
| Investment loss (gains: negative) | -25,936,741.00 | -15,141,467.00 |
| Decrease in deferred income tax assets (gains: negative) | 134,940,635.00 | 57,549,826.00 |
| Increase in deferred income tax liabilities (“-” means decrease) | 139,078,578.00 | -36,740,949.00 |
| Decrease in inventory (gains: negative) | -6,965,171,404.00 | -5,185,028,859.00 |
| Decrease in accounts receivable generated from operating activities (gains: negative) | -13,418,180,813.00 | -931,804,185.00 |
| Increase in accounts payable used in operating activities (decrease: negative) | 13,699,858,412.00 | 2,623,637,968.00 |
| Others | 1,843,713,379.00 | 143,218,964.00 |
BOE Technology Group Co., Ltd. Interim Report 2021
| Net cash inflow from operating activities | 32,745,188,339.00 | 9,716,675,534.00 |
| 2. Significant investing and financing activities without involvement of cash receipts and payments: | -- | -- |
| Transfer of debt 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 | 66,341,627,103.00 | 51,606,740,026.00 |
| Less: Beginning balance of cash | 68,064,736,371.00 | 50,270,321,573.00 |
| 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 | -1,723,109,268.00 | 1,336,418,453.00 |
(2) Cash and Cash Equivalent
Unit: RMB
| Item | Ending balance | Beginning balance |
| I. Cash | 66,341,627,103.00 | 68,064,736,371.00 |
| Including: Cash on hand | 1,084,972.00 | 401,041.00 |
| Bank deposits available on demand | 66,337,793,599.00 | 68,063,719,329.00 |
| Other monetary funds available on demand | 2,748,532.00 | 616,001.00 |
| 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 | 66,341,627,103.00 | 68,064,736,371.00 |
| Of which: Cash and cash equivalents with restriction in use for the Company as the parent or subsidiaries of the Group | 2,748,532.00 | 616,001.00 |
Other notes:
N/A
BOE Technology Group Co., Ltd. Interim Report 2021
65. Notes to Items in 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 correspondingamount:
N/A
66. Assets with Restricted Ownership or Right to Use
Unit: RMB
| Item | Ending carrying value | Reason for restriction |
| Cash at bank | 4,898,511,123.00 | Pledged as collateral and margin deposit |
| Bills receivable | 29,880,198.00 | Endorsed with resource |
| Inventories | 0.00 | N/A |
| Fixed assets | 159,026,382,261.00 | Mortgaged as collateral |
| Intangible assets | 1,636,495,867.00 | Mortgaged as collateral |
| Construction in progress | 11,680,731,138.00 | Mortgaged as collateral |
| Investment properties | 64,759,263.00 | Mortgaged as collateral |
| Total | 177,336,759,850.00 | -- |
Other notes:
N/A
67. 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 | -- | -- | |
| Including: USD | 3,522,450,951.00 | 6.4601 | 22,755,385,391.00 |
| EUR | 128,903,429.00 | 7.6862 | 990,777,538.00 |
| HKD | 15,470,839.00 | 0.8321 | 12,873,285.00 |
| Accounts receivable | -- | -- | |
| Including: USD | 3,494,725,108.00 | 6.4601 | 22,576,273,670.00 |
| EUR | 98,940,345.00 | 7.6862 | 760,475,280.00 |
| HKD | 0.00 | 0.8321 | 0.00 |
| Long-term loans | -- | -- | |
| Including: USD | 5,068,171,853.00 | 6.4601 | 32,740,896,988.00 |
BOE Technology Group Co., Ltd. Interim Report 2021
| EUR | 182,138,465.00 | 7.6862 | 1,399,952,670.00 |
| HKD | 0.00 | 0.8321 | 0.00 |
Other notes:
N/A
(2) Notes to Overseas Entities Including: for Significant Oversea 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
VIII. Changes of Consolidation Scope
1. Business Combinations Involving Entities Not Under Common Control
(1) Business Combinations Involving Entities Not Under Common Control Occurred During the ReportingPeriod
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 |
| 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 |
BOE Technology Group Co., Ltd. Interim Report 2021
| Others | 0.00 |
| Total acquisition cost | 0.00 |
| Less: Share of the fair value of the identifiable net assets acquired | 0.00 |
| 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 and contingent consideration and its changes: NoneMain reasons for the formation of large-amount goodwill: NoneOther notes: N/A
(3) Identifiable Assets and Liabilities of the Acquiree on the Acquisition Date
Unit: RMB
| 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 |
| 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 |
| 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: NoneContingent liabilities of the acquiree assumed in the business combination: NoneOther 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
BOE Technology Group Co., Ltd. Interim Report 2021
□ Yes √ No
(5) Notes to Failure to Reasonably Determine the Combination Consideration or the Fair Value ofIdentifiable Assets and Liabilities of the Acquiree on the Acquisition Date or at the End of the CurrentPeriodN/A
(6) Other Notes
N/A
2. Business Combinations Involving Entities Under Common Control
(1) Business Combinations Involving Entities Under Common Control Occurred During the ReportingPeriod
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 |
BOE Technology Group Co., Ltd. Interim Report 2021
| --Contingent consideration | 0.00 |
Notes to contingent consideration and its changes: NoneOther notes: None
(3) The Carrying Value of Assets and Liabilities of the Combined Party on the Combination Date
Unit: RMB
| 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 |
| 0.00 | 0.00 | |
| Liabilities: | 0.00 | 0.00 |
| Loans | 0.00 | 0.00 |
| Payables | 0.00 | 0.00 |
| 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: NoneOther 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 is a single disposal of the investment to the subsidiary and lost control?
□ Yes √ No
Whether there are several disposals of the investment to the subsidiary and lost controls?
□ Yes √ No
BOE Technology Group Co., Ltd. Interim Report 2021
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:
In the year, the Company newly established one subsidiary, BOE Jingxin Technology Co., Ltd., with 100% shareholding.
6. Other
N/A
BOE Technology Group Co., Ltd. Interim Report 2021
IX. Equity in Other Entities
1. Interests in Subsidiaries
(1) Subsidiaries
| Name of the Subsidiary | Principal place of business | Registered place | Business nature | Shareholding percentage | Acquisition method | |
| Direct | Indirect | |||||
| Beijing BOE Optoelectronics Technology Co., Ltd. | Beijing, China | Beijing, China | Research and development (“R&D”), design and manufacturing of TFT-LCD | 82.49% | 17.51% | Founded by investment |
| Chengdu BOE Optoelectronics Technology Co., Ltd. (“Chengdu Optoelectronics”) | 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. | Hefei, China | Hefei, China | Investment, construction, R&D, production and sales of the relevant products of thin film transistor LCD 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”) | Beijing, China | Beijing, China | Development of TFT-LCD, manufacturing and sale of LCD | 97.17% | 2.83% | Founded by investment |
| Hefei Xinsheng Optoelectronics Technology Co., Ltd. | Hefei, China | Hefei, China | Investment, construction, R&D, production and sales of the relevant products of thin film transistor LCD and its auxiliary products. | 99.97% | 0.03% | Business combinations involving entities not under common control |
| Erdos Yuansheng Optoelectronics Co., Ltd. (“Yuansheng Optoelectronics”) | Erdos, China | Erdos, China | Manufacture and sales of AM-OLED products and auxiliary products. | 100.00% | 0.00% | Founded by investment |
| Chongqing BOE Optoelectronics Technology Co., Ltd. (“Chongqing BOE”) | Chongqing, China | Chongqing, China | R&D, production and sales of semi-conducting display devices, complete machine and related products; import & export of goods and technology consulting. | 100.00% | 0.00% | Business combinations involving entities not under common control |
BOE Technology Group Co., Ltd. Interim Report 2021
| Fuzhou BOE Optoelectronics Technology Co., Ltd. (“Fuzhou BOE”) | Fuzhou, China | Fuzhou, China | Investment, construction, R&D, production and sales of the relevant products of thin film transistor LCD and its auxiliary products. | 81.25% | 0.00% | Business combinations involving entities not under common control |
| Beijing BOE Video Technology Co., Ltd. (“BOE Video”) | Beijing, China | Beijing, China | Manufacture of LCD TV, LCD; technology development of terminal products and systems such as TFT-LCD display and TV | 100.00% | 0.00% | Founded by investment |
| Beijing BOE Vacuum Electronics Co., Ltd. | Beijing, China | Beijing, China | Manufacture and sale of vacuum electronic products | 55.00% | 0.00% | Founded by investment |
| Beijing BOE Vacuum Technology Co., Ltd. | Beijing, China | Beijing, China | Manufacture and sale of electronic tubes. | 100.00% | 0.00% | Founded by investment |
| Beijing Smart Aero Display Technology Co., Ltd. (Formerly Beijing BOE Special Display Technology Co., Ltd.) | Beijing, China | Beijing, China | Development of display products and sale of electronic products. | 100.00% | 0.00% | Founded by investment |
| Beijing Yinghe Century Co., Ltd. | Beijing, China | Beijing, China | Management of engineering projects; real estate development; public parking lot for motor vehicles service; office lease. | 100.00% | 0.00% | Founded by investment |
| BOE Optical Science and Technology Co., Ltd. (“Optical Science and Technology”) | Suzhou, China | Suzhou, China | R&D, production and sales of LCD, back light for display and related components. | 95.17% | 0.00% | Founded by investment |
| BOE Hyundai LCD (Beijing) Display Technology Co., Ltd. | Beijing, China | Beijing, China | Development, manufacture and sale of liquid display for mobile termination. | 75.00% | 0.00% | Founded by investment |
| BOE (Hebei) Mobile Technology Co., Ltd. (“BOE Hebei”) | 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. (“BOE Multimedia”) | Beijing, China | Beijing, China | Sales of computer software and hardware, digital video-audio products | 100.00% | 0.00% | Founded by investment |
| Beijing BOE Energy Technology Co., Ltd. (“BOE Energy”) | Beijing, China | Beijing, China | Design, consultancy and service of solar cell, photovoltaic system, wind power system and solar thermal system as well as | 100.00% | 0.00% | Founded by investment |
BOE Technology Group Co., Ltd. Interim Report 2021
| the assembly units; energy-saving service. | ||||||
| Beijing BOE Life Technology Co., Ltd. (“BOE Life Technology”) | 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. (“Zhongxiangying”) | Beijing, China | Beijing, China | Technology promotion services, property management, sales of electronic products | 100.00% | 0.00% | Founded by investment |
| Ordos City Haosheng Energy Investment Co., Ltd. | Ordos, China | Ordos, China | Energy investment | 0.00% | 100.00% | Founded by investment |
| BOE Semi-conductor Co., Ltd. | Beijing, China | Beijing, China | Processing, manufacturing and sales of precision electronic components, semi-conductor devices, micro modules, microelectronic devices and electronic materials; import & export of goods | 84.00% | 0.00% | Founded by investment |
| BOE Optoelectronics Holding Co., Ltd ("Optoelectronics Holding") | Hong Kong | British Virgin Islands | Design, manufacturing and sales of electronic-information industry related products, investment and financing businesses. | 100.00% | 0.00% | Founded by investment |
| BOE Health Investment Management Co., Ltd. (“Health Investment”) | Beijing, China | Beijing, China | Investment management and project investment. | 100.00% | 0.00% | Business combinations involving entities not under common control |
| Beijing Matsushita Color CRT Co., Ltd. (“Matsushita Color CRT”) | Beijing, China | Beijing, China | Colour TV set, display tube, colour RPTV projection tube and materials of electronic components; property management and parking services, etc. | 88.80% | 0.00% | Business combinations involving entities not under common control |
| Hefei BOE Display Technology Co., Ltd. (“Hefei Technology”) | Hefei, China | Hefei, China | Investment, R & D and production of products related to TFT-LCD and the supporting facility | 8.33% | 0.00% | Business combinations involving entities not under common control |
| Beijing BOE Technology Development Co., Ltd. (“Technology Development”) | Beijing, China | Beijing, China | Development, transfer, consulting and service of technology | 100.00% | 0.00% | Founded by investment |
| Hefei BOE Zhuoyin Technology Co., | Hefei, China | Hefei, China | Investment, construction, R&D, production and sales of | 75.00% | 0.00% | Founded by investment |
BOE Technology Group Co., Ltd. Interim Report 2021
| Ltd. (“Zhuoyin Technology”) | products related to OLED display device and auxiliary products. | |||||
| Beijing BOE Land Co., Ltd. | 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. | 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 Optoelectronic Technology Co., Ltd. ("Yunnan BOE") | Yunnan, China | Yunnan, China | Development, spread, transfer, consulting 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 | 77.81% | 0.00% | Founded by investment |
| Wuhan BOE Optoelectronics Technology Co., Ltd. (“Wuhan BOE”) | Wuhan, China | Wuhan, China | Investment, construction, R&D, production and sales, technology development, transfer, consulting, and service of the relevant products of thin film transistor LCD and its auxiliary products | 23.08% | 0.00% | Business combinations involving entities not under common control |
| Mianyang BOE Optoelectronics Technology Co., Ltd. (“Mianyang BOE”) | Sichuan, China | Sichuan, China | Production of display panel for high-end smart phones, folding laptops etc. and R&D, production and sales of modules. | 83.46% | 0.00% | Business combinations involving entities not under common control |
| Chongqing BOE Display Technology | Chongqing, | Chongqing, | R&D, manufacture and sales of semiconductor display devices, | 38.46% | 0.00% | Business combinations |
BOE Technology Group Co., Ltd. Interim Report 2021
| Co., Ltd. (“Chongqing BOE Display”) | China | China | whole widget and relevant products, import and export of goods and technical consulting | involving entities not under common control | ||
| Beijing BOE Sensing Technology Co., Ltd. | Beijing, China | Beijing, China | Development, testing, consulting, service and transfer of technologies in X-ray sensors, micro fluidic chips, biochemical chips, gene chips, security sensors, microwave antenna, biological sensors, internet of things, and modules, systems and equipment of other semiconducting sensors. | 100.00% | 0.00% | Founded by investment |
| Fuzhou BOE Display Technology Co., Ltd. | 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 |
| SES Imagotag SA Co.Ltd. | Nanterre, France | Nanterre, France | Supports color electronic paper, segment LCD, TFT-LCD display, covering ESL multi-frequency protocol, Wi-Fi, BLE and NFC; multiple communication methods, integrated electronic paper supply chain resources and downstream software around electronic shelf labels Platform, image recognition and big data analytics resources to create a complete solution for the retail industry. | 0.00% | 68.48% | Business combinations involving entities not under common control |
| Hefei BOE Xingyu Technology Co., Ltd. | Hefei, China | Hefei, China | Investment, R&D, manufacturing and sales of direct display, sensors related to the display, back light source for LCD and supporting components; enterprise management consulting and service; house rental; equipment rental; technology development, transfer and consulting services. | 43.40% | 0.00% | Founded by investment |
| BOE Education Technology Co., Ltd. | Beijing, China | Beijing, China | Technology development, software development, sales of stationery supplies, sports supplies and home appliances; | 100.00% | 0.00% | Founded by investment |
BOE Technology Group Co., Ltd. Interim Report 2021
| business management, economic and trade consultancy, education consultancy, public relations services; research and experiment development of natural science, engineering technology, and agricultural science; copyright agency and arts and crafts creation services. | ||||||
| Oriental Chengqi (Beijing) Business Technology Co., Ltd. | Beijing, China | Beijing, China | Technology development; sales of primary edible agricultural products; translation services, conference services; business management, real estate information consulting; ticketing agents, tourism consulting, warehousing services, public relations services, car rental; import and export of goods, technology import and export; beauty services, medical services; inbound tourism business; Internet information services. | 100.00% | 0.00% | Founded by investment |
| BOE Innovation Investment Co., Ltd. | Beijing, China | Beijing, China | Project investment and investment management. | 100.00% | 0.00% | Founded by investment |
| BOE Smart Technology Co., Ltd. | Beijing, China | Beijing, China | Information system integration services; technology development, technology transfer; software development; Internet data services; real estate brokerage business; motor vehicle public parking services; conference services; project management; property management; lease of office space and commercial space; labour subcontracting; import and export of goods, technology import and export; human resource services. | 100.00% | 0.00% | Founded by investment |
| Nanjing BOE Display Technology Co., Ltd. (Formerly Nanjing CEC Panda FPD Technology Co., Ltd.) | Nanjing, China | Beijing, 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 | 80.83% | 0.00% | Business combinations involving entities not under common control |
BOE Technology Group Co., Ltd. Interim Report 2021
| approval from related authorities must be obtained before engagement in the business activities) | ||||||
| Chengdu CEC Panda Display Technology Co., Ltd. | Sichuan, China | Sichuan, China | R&D, production and sales of TFT-LCD panels and modules, liquid crystal display monitors, 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. | 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 centers in Internet data services and cloud computing data center with PUE over 1.4); information processing and storage support services; general contracting, professional contracting, and labor 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% | 100.00% | Founded by investment |
Explanations that the shareholding percentage is different from the voting right percentage in subsidiaries:
The Company and the shareholder of Hefei Display, Hefei Core Screen Industrial Investment Fund (Limited Partnership) signed a concerted action agreement on 30 November 2016, Hefei CoreScreen Industrial Investment Fund (Limited Partnership) agreed to act as a concerted action according to the wishes of the Company, and exercised the voting rights unconditionally andirrevocably in accordance with the opinions of the Company. Therefore, the Company’s voting right ratio to Hefei is 71.67%.The Company signed an agreement of acting in concert with the shareholder of Wuhan BOE, Wuhan Airport Economic Development Zone Industrial Development Investment Group Co., Ltd.on 25 December 2018. Wuhan Airport Economic Development Zone Industrial Development Investment Group Co., Ltd. agreed to follow the Company’s will to act as a person acting inconcert, unconditionally and irrevocably exercising voting rights in accordance with the opinions of the Company, the voting rights of the Company to Wuhan BOE is 69.23%.The Company and shareholders of Chongqing BOE Display, Chongqing Strategic Emerging Industry Equity Investment Fund Partnership (Limited Partnership) and Chongqing YuziOptoelectronics Industry Investment Co., Ltd. signed a concerted action agreement on December 25, 2018. Chongqing Strategic Emerging Industry Equity Investment Fund Partnership
BOE Technology Group Co., Ltd. Interim Report 2021
(Limited Partnership) and Chongqing Yuzi Optoelectronics Industry Investment Co., Ltd. agreed to act as a concerted action according to the will of the Company, and exercise the voting rightsunconditionally and irrevocably in accordance with the opinions of the Company. Therefore, the proportion of voting rights displayed by the Company on Chongqing BOE is 100%.The Company and Shareholder of Fuzhou BOE Display, Fuqing City Invested-Construction Investment Group Co., Ltd and Fuzhou Urban Construction Investment Group Co., Ltd signed aconcerted action agreement on 21 January 2019. Fuqing City Invested-Construction Investment Group Co., Ltd and Fuzhou Urban Construction Investment Group Co., Ltd agreed to act as aconcerted action according to the will of the Company, and exercise the voting rights unconditionally and irrevocably in accordance with the opinions of the Company. Therefore, the proportionof voting rights displayed by the Company on Fuzhou BOE Display is 100%.The Company signed an agreement of acting in concert with shareholders of Chengdu CEC Panda, Chengdu Advanced Manufacturing Industry Investment Co., Ltd., Chengdu AirportXingcheng Investment Group Co., Ltd., and Chengdu Airport Xingcheng Construction Management Co., Ltd. on 17 December 2020, and then signed an agreement of acting in concert withNanjing CEC Panda Information Industry Group Co., Ltd. and China Electronics Corporation on 31 December 2020. The above-mentioned five companies agreed to act as persons acting inconcert according to the will of the Company, and exercise the voting rights unconditionally and irrevocably in accordance with the opinions of the Company. Therefore, the proportion ofvoting rights of the Company to Chengdu CEC Panda is 96.75%.
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/AOther notes:
N/A
BOE Technology Group Co., Ltd. Interim Report 2021
(2) Significant Not Wholly-owned Subsidiary
Unit: RMB
| Name of the Subsidiary | Shareholding proportion of non-controlling interests | The profit or loss attributable to non-controlling interests | Declaring dividends distributed to non-controlling interests | Ending balance of non-controlling interests |
| Mianyang BOE Optoelectronics Technology Co., Ltd. | 16.54% | -146,220,860.00 | 0.00 | 3,951,643,130.00 |
| Wuhan BOE Optoelectronics Technology Co., Ltd. | 76.92% | 1,161,206,480.00 | 0.00 | 21,027,074,603.00 |
Notes that the shareholding percentage is different from the voting right percentage of non-controlling shareholders in subsidiaries:
N/AOther notes:
N/A
BOE Technology Group Co., Ltd. Interim Report 2021
(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 | |
| Mianyang BOE Optoelectronics Technology Co., Ltd. | 9,366,248,222.00 | 44,483,380,192.00 | 53,849,628,414.00 | 9,693,340,993.00 | 20,264,853,744.00 | 29,958,194,737.00 | 5,001,552,767.00 | 45,771,813,314.00 | 50,773,366,081.00 | 8,221,423,949.00 | 19,783,319,398.00 | 28,004,743,347.00 |
| Wuhan BOE Optoelectronics Technology Co., Ltd. | 13,426,914,914.00 | 36,106,050,523.00 | 49,532,965,437.00 | 6,010,243,597.00 | 16,186,431,404.00 | 22,196,675,001.00 | 11,748,881,218.00 | 34,698,575,568.00 | 46,447,456,786.00 | 5,369,267,140.00 | 15,257,510,868.00 | 20,626,778,008.00 |
Unit: RMB
| Name of the Subsidiary | Reporting Period | Same period of last year | ||||||
| Operating income | Net profit | Total comprehensive income | Cash flows from operating activities | Operating income | Net profit | Total comprehensive income | Cash flows from operating activities | |
BOE Technology Group Co., Ltd. Interim Report 2021
| Mianyang BOE Optoelectronics Technology Co., Ltd. | 7,139,702,888.00 | -884,043,896.00 | -884,043,896.00 | 983,913,609.00 | 17,328,050.00 | -187,115,154.00 | -187,115,154.00 | 4,285,855.00 |
| Wuhan BOE Optoelectroni Technology cs Co., Ltd. | 6,959,030,521.00 | 1,509,628,810.00 | 1,509,628,810.00 | 1,578,297,899.00 | 53,521,966.00 | -213,855,820.00 | -213,855,820.00 | 318,356,092.00 |
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 Financial Statements
N/AOther notes:
N/A
BOE Technology Group Co., Ltd. Interim Report 2021
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
The Company paid the consideration of RMB6,339,085,322.00 in March 2021 to purchase non-controlling equity interests ofRMB5,700,000,000.00 of Mianyang BOE; non-controlling interests increased the investment in Mianyang BOE byRMB1,000,000,000.00. The Company held 66.67% of shares in Mianyang BOE before the capital increase and 83.46% of sharesafter the capital increase.The Company increased its investment in Yunnan Chuangshijie by RMB109,820,000.00 in March and April 2021; non-controllinginterests increased the investment in Yunnan Chuangshijie by RMB75,850,000.00. The Company held 79.96% of shares in YunnanChuangshijie before the capital increase and 77.81% of shares after the capital increase.The company sold 8.28% of the shares of SES Imagotag SA Co. Ltd. in April 2021 and received of EUR 57,200,000.00.The Company held 68.48% of shares in Yunnan Chuangshijie before the capital decrease and 60.20% of shares after the capitaldecrease.
(2) The Effects of the Transaction on Non-controlling Interests and Equity Attributable to Owners of theCompany as the Parent
Unit: RMB
| Mianyang BOE | Yunnan Chuangshijie | SES Imagotag SA Co.Ltd. | |
| Purchase cost/disposal consideration | 6,339,085,322.00 | 109,820,000.00 | -434,868,720.00 |
| --Cash | 6,339,085,322.00 | 109,820,000.00 | -434,868,720.00 |
| --Fair value of non-cash assets | 0.00 | 0.00 | 0.00 |
| Total of purchase cost /disposal consideration | 6,339,085,322.00 | 109,820,000.00 | -434,868,720.00 |
| Less: Subsidiary net assets proportion calculated by share proportion obtained/disposal | 5,389,366,941.00 | 112,510,239.00 | -146,828,923.00 |
| Difference | 949,718,381.00 | -2,690,239.00 | -288,039,797.00 |
| Of which: Adjustment of capital reserves | -949,718,381.00 | 2,690,239.00 | 288,039,797.00 |
| Surplus reserves adjustments | 0.00 | 0.00 | 0.00 |
| Retained profits adjustments | 0.00 | 0.00 | 0.00 |
Other notes:
N/A
BOE Technology Group Co., Ltd. Interim Report 2021
3. Equity in Joint Ventures or Associated Enterprises
(1) Significant Joint Ventures or Associated Enterprises
| Name | Principal place of business | Registered place | Business nature | Shareholding percentage | Accounting treatment method for the investment in joint ventures or associated enterprises | |
| Direct | Indirect | |||||
| 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) The Main Financial Information of Significant Joint Ventures
Unit: RMB
| Ending balance/Reporting Period | Beginning balance/The same period of last year | |
| N/A |
Other notes: N/A
(3) The Main Financial Information of Significant Associated Enterprises
Unit: RMB
| Ending balance/Reporting Period | Beginning balance/The same period of last year | |
| N/A |
Other notes: N/A
(4) Summary Financial Information of Insignificant Joint Ventures or Associated Enterprises
Unit: RMB
| Ending balance/Reporting Period | Beginning balance/The same period of last year | |
| Joint venture: | -- | -- |
| Total carrying value of investment | 0.00 | 0.00 |
| The total of following items according to the | -- | -- |
BOE Technology Group Co., Ltd. Interim Report 2021
| shareholding proportions | ||
| --Net profit | 0.00 | 0.00 |
| --Other comprehensive income | 0.00 | 0.00 |
| --Total comprehensive income | 0.00 | 0.00 |
| Associated enterprise: | -- | -- |
| Total carrying value of investment | 3,455,420,187.00 | 3,693,170,224.00 |
| The total of following items according to the shareholding proportions | -- | -- |
| --Net profit | 620,013.00 | -27,648,162.00 |
| --Other comprehensive income | -64,314,237.00 | 198,406,448.00 |
| --Total comprehensive income | -63,694,224.00 | 170,758,286.00 |
Other notes:
N/A
(5) Note to the Significant Restrictions on the Ability of Joint Ventures or Associated Enterprises toTransfer Funds to the CompanyN/A
(6) The Excess Loss of Joint Ventures or Associated Enterprises
Unit: RMB
| Name | The cumulative recognized losses in previous accumulatively derecognized | The derecognized losses (or the share of net profit) in Reporting Period | The accumulative unrecognized losses in Reporting Period |
| Hefei Xin Jing Yuan Electronic Materials Co., Ltd. | -18,207,308.00 | -2,398,832.00 | -20,606,140.00 |
Other notes:
As at 30 June 2021, Hefei Xinjingyuan Electronic Materials Co., Ltd. has continuously incurred losses. Since the Company has noobligation to undertake extra losses for it, the recognition of the share of its net losses born by the Company shall be limited to thatthe carrying value of long-term equity investments is reduced to zero. As at 30 June 2021, the accumulative unrecognized investmentlosses are RMB20,606,140.00.
(7) The Unrecognized Commitment Related to Investment to Joint VenturesN/A
(8) Contingent Liabilities Related to Investment to Joint Ventures or Associated EnterprisesN/A
BOE Technology Group Co., Ltd. Interim Report 2021
4. Significant Common Operation
| Name | Principal place of business | 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 Statements
Notes to the structured entity excluded in the scope of consolidated financial statements:
N/A
6. Other
N/A
X. The Risk Related to Financial Instruments
(1) Credit Risk
Credit risk refers to the risk of financial losses to one party of a financial instrument due to the failure of obligation performance bythe other party. The credit risk of the Group is mainly from accounts receivable. And the management will continue to monitor theexposure of these credit risks.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.As for accounts receivable, the Group has worked out the credit policies based on actual situation to evaluate customers’ credit so asto decide the limit of sales on credit and credit period. The credit evaluation is conducted on the basis of a customer’s financialcondition, external rating and historical transaction records. The accounts receivable will expire within 15 to 120 days since the issuedate of account bills. The debtors of overdue accounts receivable will be required to pay off all outstanding balance before obtainingfurther credit lines. In general, the Group will not ask customers to offer any collateral.The credit risk of the Group is mainly influenced by characteristics of customers, not the industries, countries or regions they are in.Thus, the concentration of material credit risks is mainly generated from material accounts receivable and contract assets of theGroup from individual customers. On the balance sheet date, the accounts receivable of the Group and the Company's top fivecustomers respectively account for 42% and 0.03% (in 2020: 33% and 0.02%) of total accounts receivable and total contract assets ofthe Group and the Company. What’s more, the accounts receivable of the Group not overdue and without impairment are mainlyfrom customers without debt records recently.The maximum credit risk exposure born by the Group is the carrying amount of each financial asset in the balance sheet. As stated inNote XIV, the Group has no external guarantee that will bring credit risks to the Group as at 30 June 2021.
BOE Technology Group Co., Ltd. Interim Report 2021
(2) Liquidity Risk
Liquidity risk is the risk that an enterprise will encounter difficulty in meeting obligations that are settled by delivering cash oranother financial asset. The Company and its individual subsidiaries are responsible for their own cash management, includingshort-term investment of cash surpluses and the raising of loans to cover expected cash demands (subject to approval by theCompany’s board when the borrowings exceed certain predetermined levels). The Group’s policy is to regularly monitor its liquidityrequirements and its compliance with lending covenants, to ensure that it maintains sufficient reserves of cash, readily realizablemarketable securities and adequate committed lines of funding from major financial institutions to meet its liquidity requirements inthe short and longer term.
(3) Interest Rate Risk
Interest-bearing financial instruments at variable rates and at fixed rates expose the Group to cash flow interest rate risk and fairvalue interest risk, respectively. The Group determines the appropriate weightings of the fixed and floating rate interest-bearinginstruments based on the current market conditions and performs regular reviews and monitoring to achieve an appropriate mix offixed and floating rate exposure. The Group does not enter into financial derivatives to hedge interest rate risk.As at 30 June 2021, it is estimated that a general increase/decrease of 100 basis points in interest rates of variable rate instrument,with all other variables held constant, would decrease/increase the Group's net profit and equity by RMB523.65million (2020:
RMB557.44 million).In respect of the exposure to cash flow interest rate risk arising from floating rate non-derivative instruments held by the Group at thebalance sheet date, the impact on the net profit and equity is estimated as an annualized impact on interest expense or income of sucha change in interest rates. The analysis is performed on the same basis for the previous year.
(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 bybuying or selling foreign currencies at spot rates when necessary to address short-term imbalances.(a)The Group’s exposure as at 30 June to currency risk arising from recognized foreign currency assets or liabilities is mainlydenominated in US dollar. The amount of the USD exposure is net liabilities exposure USD2,151,445,251 (2020 net liabilities exposure:
USD2,618,785,628), translated into RMB13,898,551,466 (2020: RMB17,087,314,344), using the spot rate at the balance sheet date.Differences resulting from the translation of the financial statements denominated in foreign currency are excluded.(b) Assuming all other risk variables remained constant, a 5% strengthening/weakening of the Renminbi against the US dollar at 30June would have increased/decreased both the Group's equity and net profit by the amount RMB342,588,632 (2020:
RMB333,959,173).The sensitivity analysis above assumes that the change in foreign exchange rates had been applied to re-measure those financialinstruments held by the Group which expose the Group to foreign currency risk at the balance sheet date. The analysis excludesdifferences that would result from the translation of the financial statements denominated in foreign currency. The analysis isperformed on the same basis for the previous year.XI. 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 | |
BOE Technology Group Co., Ltd. Interim Report 2021
| I. Consistent fair value measurement | -- | -- | -- | -- |
| ----(I) Trading financial assets | 0.00 | 0.00 | 3,261,079,527.00 | 3,261,079,527.00 |
| 1. Financial assets at fair value through profit or loss | 0.00 | 0.00 | 3,261,079,527.00 | 3,261,079,527.00 |
| (1) Debt instruments investment | 0.00 | 0.00 | 2,654,184,080.00 | 2,654,184,080.00 |
| (2) Equity instruments investment | 0.00 | 0.00 | 606,895,447.00 | 606,895,447.00 |
| (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 |
| (II) Investment in other debt obligations | 0.00 | 0.00 | 0.00 | 0.00 |
| (III) Other equity instrument investment | 190,674,763.00 | 0.00 | 352,842,716.00 | 543,517,479.00 |
| (IV) Investment property | 0.00 | 0.00 | 0.00 | 0.00 |
| 1. Lease the land use right | 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 |
| (V)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 |
| Total assets measured at fair value on a recurring basis | 0.00 | 0.00 | 0.00 | 0.00 |
| (VI)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 |
| (VII) 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 measurement | 0.00 | 0.00 | 0.00 | 0.00 |
| II. Inconsistent fair value measurement | -- | -- | -- | -- |
| ----(I) Assets held for sale | 0.00 | 0.00 | 0.00 | 0.00 |
| Total assets inconsistently measured at fair | 0.00 | 0.00 | 0.00 | 0.00 |
BOE Technology Group Co., Ltd. Interim Report 2021
| value | ||||
| 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,the Qualitative 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,the Qualitative 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 CarryingValue and 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 ifConversion Happens among Consistent Fair Value Measurement Items at Different Level
N/A
7. Changes in Valuation Techniques in the Reporting Period and Reasons for the ChangesN/A
8. Fair Value of Financial Assets and Liabilities Not Measured at Fair ValueN/A
9. Other
N/A
BOE Technology Group Co., Ltd. Interim Report 2021
XII. Connected Party and Connected Transaction
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. | No. 12, Jiuxianqiao Road, Chaoyang District, Beijing | Operation and management of state-owned assets within authorization, etc. | RMB3,139,210,000.00 | 0.79% | 17.68% |
Notes to the Company as the parent:
N/AThe final controller of the Company is Beijing Electronics Holding Co., Ltd.Other notes:
N/A
2. Subsidiaries of the Company
Refer to Note IX.-1 for details.
3. Information on the Joint Ventures and Associated Enterprises of the CompanyFor information of significant joint ventures or associated enterprises of the Company, please refer to Note IX-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 |
| Beijing Nissin Electronics Precision Component Co., Ltd. | Associate of the Group and the Company |
| Beijing Nittan Electronic Co., Ltd. | Associate of the Group and the Company |
| Beijing Xindongneng Investment Management Co., Ltd. | Associate of the Group and the Company |
| TPV Display Technology (China) Limited | Associate of the Group and the Company |
| Hunan BOE Yiyun Science & Technology Co., Ltd. | Associate of the Group and the Company |
| Beijing Zhonglianhe Ultra HD Collaborative Technology Centre Co., Ltd. | Associate of the Group |
| BioChain (Beijing) Science & Technology, Inc. | Associate of the Group |
| BOE Houji Technology (Beijing) Co., Ltd. | Associate of the Group |
BOE Technology Group Co., Ltd. Interim Report 2021
| Changzhou Xiruojia Medical Technology Co., Ltd. | Subsidiary of associate of the Group |
Other notes:
N/A
4. Information on Other Related Parties
| Name of other related parties | Relationship with the Company |
| Beijing BOE Investment Development Co., Ltd. | Under the same control of the ultimate holding company |
| Beijing NAURA Microelectronics Equipment Co., Ltd. | Under the same control of the ultimate holding company |
| Sevenstar Semiconductor Technologies Co., Ltd. | Under the same control of the ultimate holding company |
| Beijing Zhaowei Technology Development Co., Ltd. | Under the same control of the ultimate holding company |
| Beijing C&W Intelligent Equipment Co., Ltd. | Under the same control of the ultimate holding company |
| Beijing Dongdian Industrial Development Co., Ltd. | Under the same control of the ultimate holding company |
| Beijing Zhengdong Electronic Power Group Co., Ltd. | Under the same control of the ultimate holding company |
| Beijing Yansong Economic and Trade Co., Ltd. | Under the same control of the ultimate holding company |
| Beijing Ether Electronics Group Co., Ltd. | Under the same control of the ultimate holding company |
| Beijing Electronics Holding & SK Technology Co., Ltd. | Under the same control of the ultimate holding company |
| Beidian Aisite (Jiangsu) Technology Co., Ltd. | Under the same control of the ultimate holding company |
| Beijing Zhaowei Electronics (Group) Co., Ltd. | Under the same control of the ultimate holding company |
| 761 Workshop (Beijing) Technology Development Co., Ltd. | Under the same control of the ultimate holding company |
| Beijing Electric Control Industry Investment Co., Ltd. | Under the same control of the ultimate holding company |
| Xin Xiang Microelectronic (Hong Kong) Co., Ltd. | Associate of enterprise that is under the same control of the ultimate holding company |
| Beijing Senju Electronic Materials Co., Ltd. | Associate of enterprise that is under the same control of the ultimate holding company |
| Beijing Asahi Electronic Materials Co., Ltd. | Others |
| Beijing Yizhuang Water Co., Ltd. | Others |
| China Minsheng Banking Corporation Limited | 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
BOE Technology Group Co., Ltd. Interim Report 2021
| 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 affiliated companies | Purchase of goods | 266,829,360.00 | 647,000,000.00 | No | 74,502,480.00 |
| Beijing Electronics Holding Co., Ltd and its affiliated companies | Receiving of services | 1,522,372.00 | 45,000,000.00 | No | 1,836,188.00 |
| Other related parties | Purchase of goods | 129,714,767.00 | 380,200,000.00 | No | 202,163,441.00 |
| Other related parties | Receiving of services | 1,328,899.00 | 10,100,000.00 | No | 1,570,667.00 |
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 affiliated companies | Sale of goods | 5,234,597.00 | 75,050.00 |
| Beijing Electronics Holding Co., Ltd and its affiliated companies | Rendering of services | 3,739,611.00 | 1,863,450.00 |
| Other related parties | Sale of goods | 126,028,273.00 | 16,211,639.00 |
| Other related parties | Rendering of services | 264,969.00 | 27,043.00 |
Explanation of Information on Acquisition of Goods and Reception of Labor ServiceN/A
(2) Connected Trusteeship/Contract and Entrust/Contractee
Lists of connected trusteeship/contract:
Unit: RMB
| Name of the entruster/contractee | Name of the entrustee/ contractor | Type | Start date | Due date | Pricing basis | Income recognized in the Reporting Period |
| N/A |
Notes to connected trusteeship/contractN/ALists of entrust/contractee
Unit: RMB
| Name of the entruster/contractee | Name of the entrustee/ contractor | Type | Start date | Due date | Pricing basis | Income recognized in the Reporting Period |
BOE Technology Group Co., Ltd. Interim Report 2021
| N/A |
Notes to entrust/contracteeN/A
(3) Information on Connected Lease
The Company served as the 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 affiliated companies | Investment properties | 102,491.00 | 87,545.00 |
| Other related parties | Investment properties | 573,156.00 | 474,771.00 |
The Company served as the lessee:
Unit: RMB
| Name of lessor | 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 affiliated companies | Fixed assets | 1,402,644.00 | 1,471,272.00 |
Notes to connected leaseN/A
(4) Connected Guarantee
The Company served as the guarantee
Unit: RMB
| Secured party | Amount | Start date | Due date | Whether completely performed |
| N/A |
The Company served as the secured party
Unit: RMB
| Guarantee | Amount | Start date | Due date | Whether completely performed |
| N/A |
Notes to connected guaranteeN/A
BOE Technology Group Co., Ltd. Interim Report 2021
(5) Interbank Borrowing and Lending of Capital by Connected Party
Unit: RMB
| Name of related party | Amount of funding | Inception date | Maturity date | Note |
| Funds received | ||||
| N/A | ||||
| Funds provided | ||||
| N/A | ||||
(6) Assets Transfer and Debt Restructuring of Connected Party
Unit: RMB
| Name of related party | Nature of transaction | Reporting Period | Same period of last year |
| N/A |
(7) Remuneration for Key Management Personnel
Unit: RMB
| Item | Reporting Period | Same period of last year |
| Remuneration of key management personnel | 69,055,577.00 | 25,527,806.00 |
(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 | ||
| Book value | Provision for impairment | Book value | Provision for impairment | ||
| Accounts receivable | Beijing Electronics Holding Co., Ltd and its affiliated companies | 156,608.00 | 0.00 | 78,138.00 | 0.00 |
| Other receivables | Beijing Electronics Holding Co., Ltd and its affiliated companies | 1,314,079.00 | 0.00 | 1,108,034.00 | 0.00 |
| Prepayments | Beijing Electronics Holding Co., Ltd and its affiliated companies | 902,006.00 | 0.00 | 840,736.00 | 0.00 |
BOE Technology Group Co., Ltd. Interim Report 2021
| Accounts receivable | Other related parties | 66,413,634.00 | 0.00 | 6,900,349.00 | 0.00 |
| Other receivables | Other related parties | 1,907,616.00 | 0.00 | 5,674,947.00 | 0.00 |
| Prepayments | Other related parties | 6,090,493.00 | 0.00 | 8,712,791.00 | 0.00 |
| Contract assets | Other related parties | 693,124.00 | 0.00 | 0.00 | 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 affiliated companies | 51,082,252.00 | 39,136,061.00 |
| Other payables | Beijing Electronics Holding Co., Ltd and its affiliated companies | 188,790,712.00 | 137,685,259.00 |
| Advance payments received | Beijing Electronics Holding Co., Ltd and its affiliated companies | 0.00 | 12,815.00 |
| Contract liabilities | Beijing Electronics Holding Co., Ltd and its affiliated companies | 84,120.00 | 0.00 |
| Accounts payable | Other related parties | 100,340,520.00 | 70,597,799.00 |
| Other payables | Other related parties | 11,898,926.00 | 174,048.00 |
| Advance payments received | Other related parties | 6,118,783.00 | 71,155.00 |
| Contract liabilities | Other related parties | 695,930.00 | 270,612.00 |
7. Commitments of the Related Parties
| Item | 2021 | 2020 |
| Procurement of equipment | 182,785,156.00 | 122,293,128.00 |
8. Other
N/A
BOE Technology Group Co., Ltd. Interim Report 2021
XIII. Share-based Payments
1. Overview of Share-based Payments
√ Applicable □ Not applicable
Unit: RMB
| The total amount of equity instruments granted to the Company during the Reporting Period | 0.00 |
| The total amount of equity instruments exercised by the Company during the Reporting Period | 0.00 |
| The total amount of equity instruments of the Company that expire during the Reporting Period | 0.00 |
| Scope of the exercise price of outstanding stock options of the Company at the end of the Reporting Period and remaining contract term | -- |
| Scope of the exercise price of other outstanding equity instruments of the Company at the end of the Reporting Period and remaining contract term | -- |
Other notes:
No new equity instruments were granted to the Company during the Reporting Period.On 17 November 2020, the General Meeting of the Company approved the implementation of share options and restricted shareincentive plans since 2020. The shares for the share options and restricted share incentive plans are from the Company's RenminbiA-share ordinary shares repurchased from the secondary market. Vesting plans of share options and restricted share incentive plansare presented as follows:
(1) Share option incentive plan
The share option incentive plan is classified into initial grant and reserved grant. The initial grant date was 21 December 2020,and the implementation was completed on 25 December 2020. The actual number of grantees was 1,988, with a number of grants of596,229,700 shares; the number of reserved grants was 33,000,000 shares. The grant date, grant recipients, and implementationcompletion date, etc. are to be confirmed.The share options are exercised in three phases after 24 months from the grant date. The exercise ratios for each phase are 34%,33%, and 33%, respectively. The corresponding exercise dates are 2 years, 3 years, and 4 years from the grant date.
The fair value of equity instruments at the grant date is determined based on the difference between the assessed fair value of theexercisable share options at each grant date and the subscription price in RMB (RMB1.68/share, RMB1.93/share and RMB2.09/share,respectively).
When the Company's performance meets the corresponding criteria, the proportion of exercisable rights of the above-mentionedshare options is determined based on the business performance of the incentive object's operation and the contribution value of theincentive object. In accordance with the plan, the Company will deregister the current exercisable shares of the options obtained bythe incentive objects if the exercise criteria stipulated in this plan are not met.
(2) Restricted share incentive plan
The grant date of restricted share incentive plan was 21 December 2020, and the implementation was completed on 29December 2020. The actual number of grantees was 793, with a number of grants of 321,813,800 share.
The lock-up periods of the restricted shares are 24, 36 and 48 months from the grant date. During the lock-up period, restrictedshares granted to the incentive object under this plan shall not be transferred, used for guarantee or debt repayment before the lock-up
BOE Technology Group Co., Ltd. Interim Report 2021
release. Lock-up restricted shares are released in three phases after 24 months from the grant date. The release ratios for each phaseare 34%, 33%, and 33%, respectively. The corresponding release dates are 2 years, 3 years, and 4 years from the grant date. Theactual number released shall be based on the performance assessment result in the previous year.
The fair value of equity instruments at the grant date is determined based on the difference between the fair value of shares atthe grant date and the subscription price at RMB2.68/share.When the Company's performance meets the corresponding criteria, the release proportion of the above-mentioned restrictedshares is determined based on the business performance of the incentive object's operation and the contribution value of the incentiveobject. The Company will repurchase the locked restricted shares at the granted price of the incentive objects if the release criteriastipulated in this plan are not met, and the incentive object shall not release the restricted shares for the current period.
2. Equity-settled Share-based Payments
√ Applicable □ Not applicable
Unit: RMB
| Method for determining the fair value of equity instruments at the grant date | Share option: The fair value of equity instruments at the grant date is determined based on the difference between the assessed fair value of the exercisable share options at each grant date and the subscription price in RMB (RMB1.68/share, RMB1.93/share and RMB2.09/share, respectively). Restricted shares: The fair value of equity instruments at the grant date is determined based on the difference between the fair value of shares at the grant date and the subscription price at RMB2.68/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. |
| Causes for material difference between the current estimate and the previous estimate | N/A |
| Payment of the cumulative amount included in capital reserves with equity-settled shares | 304,279,820.00 |
| Total costs recognized by equity-settled share-based payment in the Reporting Period | 291,568,623.00 |
Other notes:
N/A
3. Cash-settled Share-based Payments
□ Applicable √ Not applicable
BOE Technology Group Co., Ltd. Interim Report 2021
4. Modification and Termination of Share-based Payments
N/A
5. Others
N/AXIV Commitments and Contingency
1. Significant commitments
Significant commitments on the balance sheet date
(1) Capital Commitments
| The Group | 30 June 2021 | 31 December 2020 |
| Outward investment contract signed but not performed or not performed fully | 44,123,314,294.00 | 58,885,156,561.00 |
| Outward investment contract authorized but contract not signed | 75,392,343,393.00 | 74,192,859,943.00 |
| Total | 119,515,657,687.00 | 133,078,016,504.00 |
(2) Operating Commitments
| The Group | 30 June 2021 | 31 December 2020 |
| Within 1 year (including 1 year） | 88,877,469.00 | 76,151,901.00 |
| Over 1 year and within 2 years (including 2 years) | 47,303,873.00 | 38,471,518.00 |
| Over 2 years and within 3 years (including 3 years) | 26,109,026.00 | 21,725,645.00 |
| Over 3 years | 27,013,084.00 | 33,043,339.00 |
| Total | 189,303,452.00 | 169,392,403.00 |
| The Company | 30 June 2021 | 31 December 2020 |
| Outward investment contract signed but not performed or not performed fully | 35,155,612,052.00 | 39,391,365,336.00 |
| Outward investment contract authorized but contract not signed | 0.00 | 0.00 |
| Total | 35,155,612,052.00 | 39,391,365,336.00 |
BOE Technology Group Co., Ltd. Interim Report 2021
2. Contingency
(1) Significant Contingency on the Balance Sheet Date
N/A
(2) Explanations Should Also Be Given when there Was No Significant Contingency to DiscloseThere was no significant contingency to disclose.
3. Other
N/AXV Events after Balance Sheet Date
1. Significant Non-adjusted Events
Unit: RMB
| Item | Content | Influence number to the financial position and operating results | Reason of inability to estimate influence number |
| N/A |
2. Profit Distribution
N/A
3. Sales Return
N/A
4. Notes to Other Events after Balance Sheet Date
In July 2021, with the approval document No. 2277 [2021] of the China Securities Regulatory Commission ("CSRC"), the Companyissued 3,650,377,019 RMB ordinary shares to specific investors through private placements at the face value of RMB1/share andissue price of RMB5.57/share, raising RMB20,332,599,995.83 in total. The net amount of funds actually raised through thisnon-public offering was RMB19,869,507,400.00 after deducting issuance expenses of RMB463,092,595.83 (excluding VAT)including underwriting and sponsoring fees, audit, and capital verification expenses which totaled RMB463,092,595.83. Theavailability of the above funds has been verified by KPMG Huazhen LLP (Special General Partnership), which issued the CapitalVerification Report on Non-public Offering of RMB Ordinary Shares by BOE Technology Group Co., Ltd. (B.M.W.H.ZH.Y.Z.No.2100934).
BOE Technology Group Co., Ltd. Interim Report 2021
XVI Other Significant Events
1. Correction of Accounting Errors in Previous Period
(1) Retrospective Restatement
Unit: RMB
| Correction of accounting errors | Processing program | Name of the report item of each comparison period impacted | Cumulative impact |
| N/A |
(2) Prospective Application
| Correction of accounting errors | Approval procedure | Reasons for adopting the prospective application |
| N/A |
2. Debt Restructuring
N/A
3. Assets Replacement
(1) Replacement of Non-monetary Assets
N/A
(2) Replacement of Other Assets
N/A
4. Pension Plans
In order to ensure and improve the living standards of BOE retirees and put in place a multi-layer old-age security system and along-term talent retaining mechanism, as per China’s relevant policies and regulations, BOE has established the annuity programmesince January 2014. The annuity fund consists of the contributions by the Company (paid as per the government’s regulationsaccording to the applicable taxation policy), the contributions by employees (deducted by the Company from their salaries accordingto the applicable taxation policy) and the returns on investment by the fund (operated by the relevant government departmentaccording to the investment principle of high security and moderate income).
5. Discontinued Operations
Unit: RMB
BOE Technology Group Co., Ltd. Interim Report 2021
| Item | Income | Expense | Profit before taxation | Income tax expenses | Net profit | Profit of discontinued operations attributable to owners of the parent company |
| N/A |
Other notes: N/A
6. Segment Information
(1) Recognition Basis and Accounting Policies of Reportable Segment
The Group management reviews the operation performance and allocates resources according to the business segments below.(a) Display business—Display business offers TFT-LCD, AMOLED, Microdisplay and other intelligent interface devices designed andmanufactured in an integrated way, to create an integrated platform of panels, modules, whole products and services. Display businessprovides customers with high-quality display devices such as smartphones, tablet PCs, laptops, monitors, TVs, vehicle-mounted,electronic shelf label (ESL), tiled display screens, industrial control, wearable devices, VR/AR devices, electronic tags, white goods,healthcare, mobile payment, and interactive whiteboards, as well as the most competitive intelligent services in 3C display, smart IoT,system platform, and other fields.(b) Smart systems innovation business — The smart systems innovation business integrates designs of system solutions. Supported byAI and big data technologies, the Smart System Innovation BG focuses on software-hardware-integrated products and services andoffers integrated IoT solutions of smart governments, smart cities, smart transportation, smart finance, smart education, smart industrialparks and smart energy.(c) Smart medicine and engineering business — The smart medicine and engineering business adopts the professional healthcareservice model to combine technologies with medicine and integrate medicine and engineering with innovation, so as to provide families,communities and hospitals with the four core services of health management, health technology, digital hospital, and technologyservices. The health IoT platform connects testing equipment, medical workers and customers to build a smart health managementecosystem where customers enjoy health services including prevention, treatment, therapy and nursing.(d) Sensor and application solutions business — The sensor and application solutions business integrates design and manufacturing ofB2B system solutions. This business focuses on medical detection, household detection, communication and transportation, smarthomes and other fields to provide customers with integrated design and manufacturing services of sensor devices; besides, this businessprovides sensor system solutions of medical imaging, biological detection, smart screens, microwave communication, fingerprintidentification and the like, with products including flat panel X-ray detectors (FPXD), digital microfluidic chips, PDLC glass,fingerprint identification systems, etc.(e) MLED business — The MLED business integrates design and manufacturing of devices and provides MLED backlight productswith strong reliability and high dynamic range that allow precisely brightness adjustment for smartphones, tablet PCs, laptops, monitors,TVs and other products; besides, it provides MLED display products with high brightness, strong reliability and high dynamic range foruse in outdoor display, commercial display and other scenarios.(f) Others — Other service mainly includes technical development service and patent maintenance service. The main reason to separatethe segments is that the Group independently manages display business, smart systems innovation business, smart medicine &engineering integration business, sensor and application solutions business, MLED business, and other businesses. Because the
BOE Technology Group Co., Ltd. Interim Report 2021
business segments manufacture and distribute different products, apply different manufacturing processes and specifies in gross profit,the business segments are managed independently. The management evaluates the performance and allocates resources according tothe profit of each business segment and does not take financing cost and investment income into account
BOE Technology Group Co., Ltd. Interim Report 2021
(2) The Financial Information of Reportable Segment
Unit: RMB
| Item | Display business | Smart systems innovation business | Smart medicine & engineering integration business | MLED business | Sensor and application solutions business | Others and offset | Total |
| Operating income | 104,673,381,879.00 | 710,847,862.00 | 863,981,458.00 | 273,171,561.00 | 79,166,852.00 | 684,777,414.00 | 107,285,327,026.00 |
| Operating costs | 72,756,787,082.00 | 560,197,945.00 | 572,687,964.00 | 256,255,419.00 | 55,296,538.00 | -455,335,917.00 | 73,745,889,031.00 |
(3) If There Was no Reportable Segment, or the Total Amount of Assets and Liabilities of Each Reportable Segment Could not Be Reported, RelevantReasons Shall Be Clearly Stated
The Company develops various businesses by using common assets and liabilities and therefore, it could not analyze assets and liabilities of each reportable segment respectively by business.
(4) Other Notes
N/A
7. Other Important Transactions and Matters Impacting Investors' Decision-makingN/A
8. Other
N/A
BOE Technology Group Co., Ltd. Interim Report 2021
XVII Notes of Main Items in the Financial Statements of the Company as the Parent
1. Accounts Receivable
(1) Accounts Receivable Disclosed by Category
Unit: RMB
| Category | Ending balance | Beginning balance | ||||||||
| Book value | Provision for impairment | Carrying amounts | Book value | Provision for impairment | Carrying amounts | |||||
| Amount | Percentage | Amount | Withdrawal proportion | Amount | Percentage | Amount | Withdrawal proportion | |||
| Accounts receivable for which bad debt provision accrued separately | 5,038,758,439.00 | 99.99% | 19,069,682.00 | 0.38% | 5,019,688,757.00 | 3,993,801,591.00 | 99.98% | 20,262,337.00 | 0.51% | 3,973,539,254.00 |
| Of which: | ||||||||||
| Accounts receivable for which bad debt provision accrued by group | 810,709.00 | 0.01% | 46,566.00 | 5.74% | 764,143.00 | 712,270.00 | 0.02% | 39,216.00 | 5.51% | 673,054.00 |
| Of which: | ||||||||||
| Total | 5,039,569,148.00 | 100.00% | 19,116,248.00 | 0.38% | 5,020,452,900.00 | 3,994,513,861.00 | 100.00% | 20,301,553.00 | 0.51% | 3,974,212,308.00 |
Bad debt provision withdrawn separately:
BOE Technology Group Co., Ltd. Interim Report 2021
Unit: RMB
| Name | Ending balance | |||
| Book value | Provision for impairment | Withdrawal proportion | Reason for withdrawal | |
| N/A | ||||
Bad debt provision withdrawn separately:
Unit: RMB
| Name | Ending balance | |||
| Book value | Provision for impairment | Withdrawal proportion | Reason for withdrawal | |
Bad debt provision accrued by group:
Unit: RMB
| Name | Ending balance | ||
| Book value | Provision for impairment | Withdrawal proportion | |
| Portfolio of credit risk | 5,039,569,148.00 | 19,116,248.00 | 0.38% |
| Total | 5,039,569,148.00 | 19,116,248.00 | -- |
-Notes of the basis of recognizing the group:
| Customer group | Basis |
| Customers with high credit risk | With special matters, litigations or the deterioration of customers’ credit status |
| Customers with low credit risk | Banks, insurance companies, large state-owned enterprises and public institutions |
| Customers with moderate credit risk | Customers not included in Groups above |
Bad debt provision accrued by group:
Unit: RMB
| Name | Ending balance | ||
| Book value | Provision for impairment | Withdrawal proportion | |
| N/A | |||
| Total | |||
-Notes of the basis of recognizing the group:
Please refer to the relevant information of disclosure of bad debt provision of other accounts receivable if adopting the general modeof expected credit loss to withdraw bad debt provision of notes receivable.
√ Applicable □ Not applicable
| ? | ? | 2021 | ||||||||
| ? | ? | Book value | ? | Provision for impairment | ? | ? | ||||
| Category | ? | Amount | ? | Proportion (%) | ? | Amount | ? | Proportion (%) | ? | Carrying amounts |
BOE Technology Group Co., Ltd. Interim Report 2021
| Bad debt provision withdrawn separately | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? |
| -Customers with high credit risk | ? | 4,330,476.00 | ? | 0.09% | ? | 4,090,353.00 | ? | 94.46% | ? | 240,123.00 |
| Customers with low credit risk | ? | 5,034,427,963.00 | ? | 99.90% | ? | 14,979,329.00 | ? | 0.30% | ? | 5,019,448,634.00 |
| Bad debt provision accrued by group | ? | ? | ? | ? | ? | |||||
| -Customers with medium credit risk | ? | 810,709.00 | ? | 0.01% | ? | 46,566.00 | ? | 5.74% | ? | 764,143.00 |
| Total | ? | 5,039,569,148.00 | ? | 100.00% | ? | 19,116,248.00 | ? | 0.38% | ? | 5,020,452,900.00 |
Disclosed by aging
Unit: RMB
| Ageing | Ending balance |
| Within 1 year (including 1 year） | 4,765,927,237.00 |
| 1 to 2 years | 237,563,616.00 |
| 2 to 3 years | 34,854,310.00 |
| Over 3 years | 1,223,985.00 |
| 3 to 4 years | 0.00 |
| 4 to 5 years | 0.00 |
| More than 5 years | 1,223,985.00 |
| Total | 5,039,569,148.00 |
(2) Bad Debt Provision Withdrawn, Reversed or Recovered in the Reporting Period
Information of withdrawal of bad debt provision:
Unit: RMB
| Category | Beginning balance | Changes in the Reporting Period | Ending balance | |||
| Withdrawal | Reversal or | Write-off | Others | |||
BOE Technology Group Co., Ltd. Interim Report 2021
| recovery | ||||||
| Bad debt of accounts receivable | 20,301,553.00 | 7,486.00 | -136.00 | -1,192,655.00 | 0.00 | 19,116,248.00 |
| Total | 20,301,553.00 | 7,486.00 | -136.00 | -1,192,655.00 | 0.00 | 19,116,248.00 |
Of which bad debt provision reversed or recovered with significant amount:
Unit: RMB
| Subsidiary | Amount reversed or recovered | Way of recovery |
| N/A |
N/A
(3) Accounts Receivable with Actual Verification during the Reporting Period
Unit: RMB
| Item | Amount verified |
| N/A |
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:
N/A
(4) Top 5 Accounts Receivable in Ending Balance Collected according to the Arrears Party
Unit: RMB
| Subsidiary | Ending balance of accounts receivable | Proportion to the total ending balance of accounts receivable | Ending balance of bad debt provisions |
| Sum of top 5 accounts receivable | 4,586,279,497.00 | 91.01% | 0.00 |
| Total | 4,586,279,497.00 | 91.01% |
(5) Accounts Receivable Derecognized Due to the Transfer of Financial AssetsN/A
BOE Technology Group Co., Ltd. Interim Report 2021
(6) The Amount of the Assets and Liabilities Formed by the Transfer and the Continued Involvement ofAccounts ReceivableN/AOther notes:
N/A
2. Other Accounts Receivable
Unit: RMB
| Item | Ending balance | Beginning balance |
| Interest receivable | 0.00 | 0.00 |
| Dividends receivable | 60,055,861.00 | 460,261,502.00 |
| Other receivables | 15,671,575,897.00 | 15,885,213,081.00 |
| Total | 15,731,631,758.00 | 16,345,474,583.00 |
(1) Interest Receivable
1) Category of Interest Receivable
Unit: RMB
| Item | Ending balance | Beginning balance |
| Fixed time deposit | 0.00 | 0.00 |
| Entrusted loan | 0.00 | 0.00 |
| Bond investment | 0.00 | 0.00 |
| Total | 0.00 | 0.00 |
2) Significant Overdue Interest
| Borrower | Ending balance | Overdue time | Reason | Whether occurred impairment and its judgment basis |
| N/A |
Other notes:
N/A
3) Withdrawal of Bad Debt Provision
□ Applicable √ Not applicable
BOE Technology Group Co., Ltd. Interim Report 2021
(2) Dividend Receivable
1) Category of Dividend Receivable
Unit: RMB
| Item(or investee) | Ending balance | Beginning balance |
| Beijing?Matsushita Color CRT Co., Ltd. (BMCC) | 52,294,259.00 | 52,294,259.00 |
| BOE (Korea) Co., Ltd. | 5,836,980.00 | 6,125,106.00 |
| Chongqing BOE Optoelectronics Technology Co., Ltd. | 0.00 | 400,000,000.00 |
| Beijing Electronic Zone High-tech Group Co., Ltd. | 1,924,622.00 | 1,842,137.00 |
| Total | 60,055,861.00 | 460,261,502.00 |
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 | ||||
| Total |
3) Withdrawal of Bad Debt Provision
□ Applicable √ Not applicable
Other notes: N/A
(3) Other Accounts Receivable
1) Other Account Receivable Classified by Account Nature
Unit: RMB
| Nature of other receivables | Ending carrying balance | Beginning carrying balance |
| Transaction amount | 15,484,143,336.00 | 15,844,170,864.00 |
| Others | 239,111,648.00 | 90,981,869.00 |
| Total | 15,723,254,984.00 | 15,935,152,733.00 |
BOE Technology Group Co., Ltd. Interim Report 2021
2) Withdrawal of Bad Debt Provision
Unit: RMB
| Provision for impairment | Phase I | Phase II | Phase III | Total |
| Expected credit losses 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 2021 | 0.00 | 0.00 | 49,939,652.00 | 49,939,652.00 |
| Balance of 1 January 2021 in the current period | —— | —— | —— | —— |
| --Transferred to the Phase II | 0.00 | 0.00 | 0.00 | 0.00 |
| -Transfer to Third stage | 0.00 | 0.00 | 0.00 | 0.00 |
| -Reverse to Second stage | 0.00 | 0.00 | 0.00 | 0.00 |
| -Reverse to First stage | 0.00 | 0.00 | 0.00 | 0.00 |
| Withdrawal of the current period | 0.00 | 0.00 | 1,739,435.00 | 1,739,435.00 |
| Reversal of the current period | 0.00 | 0.00 | 0.00 | 0.00 |
| Write-offs of the current period | 0.00 | 0.00 | 0.00 | 0.00 |
| Verification of 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 2021 | 0.00 | 0.00 | 51,679,087.00 | 51,679,087.00 |
Changes of carrying amount with significant amount changed of loss provision in the current period
□ Applicable √ Not applicable
Disclosed by aging
Unit: RMB
| Ageing | Ending balance |
| Within 1 year (including 1 year） | 10,596,317,268.00 |
| 1 to 2 years | 5,021,719,335.00 |
| 2 to 3 years | 47,500,949.00 |
| Over 3 years | 57,717,432.00 |
| 3 to 4 years | 6,928,384.00 |
| 4 to 5 years | 9,329,305.00 |
| More than 5 years | 41,459,743.00 |
| Total | 15,723,254,984.00 |
BOE Technology Group Co., Ltd. Interim Report 2021
3) Bad Debt Provision Withdrawn, Reversed or Recovered in the Reporting PeriodInformation of withdrawal of bad debt provision:
Unit: RMB
| Category | Beginning balance | Changes in the Reporting Period | Ending balance | |||
| Withdrawal | Reversal or recovery | Write-off | Others | |||
| Bad debt provisions for other receivables | 49,939,652.00 | 1,739,435.00 | 0.00 | 0.00 | 0.00 | 51,679,087.00 |
| Total | 49,939,652.00 | 1,739,435.00 | 0.00 | 0.00 | 0.00 | 51,679,087.00 |
N/AOf which bad debt provision reversed or recovered with significant amount:
Unit: RMB
| Subsidiary | Amount reversed or recovered | Way of recovery |
| N/A |
N/A
4) 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 of verification of other receivables:
N/A
5) Top 5 Other Accounts Receivable in Ending Balance Collected according to the Arrears Party
Unit: RMB
| Subsidiary | Nature | Ending balance | Ageing | Proportion to the total ending balance of other receivables | Ending balance of bad debt provisions |
| Customer A | Transaction amount | 5,160,796,365.00 | Within 1 year, 1 to 2 years, 2 to 3 years, 3 to 4 fours, and more than 5 | 32.81% | 0.00 |
BOE Technology Group Co., Ltd. Interim Report 2021
| years | |||||
| Customer B | Transaction amount | 3,246,960,246.00 | Within 1 year and 1 to 2 years | 20.64% | 0.00 |
| Customer C | Transaction amount | 2,100,738,055.00 | Within 1 year, 1 to 2 years, and 2 to 3 years | 13.35% | 0.00 |
| Customer D | Transaction amount | 1,973,226,134.00 | Within 1 year and 1 to 2 years | 12.54% | 0.00 |
| Customer E | Transaction amount | 1,878,543,646.00 | Within 1 year, 1 to 2 years, 2 to 3 years, and 3 to 4 fours | 11.94% | 0.00 |
| Total | -- | 14,360,264,446.00 | -- | 91.28% | 0.00 |
6) Accounts Receivable Involving Government Grants
Unit: RMB
| Subsidiary | Project of government grants | Ending balance | Ending aging | Estimated recovering time, amount and basis |
| N/A |
7) Other Accounts Receivable Derecognized Due to the Transfer of Financial AssetsN/A
8) Amount of Assets and Liabilities Due to the Transfer of Other Account Receivable and ContinuedInvolvementN/AOther notes:
N/A
BOE Technology Group Co., Ltd. Interim Report 2021
3. Long-term Equity Investment
Unit: RMB
| Item | Ending balance | Beginning balance | ||||
| Book value | Provision for impairment | Carrying amounts | Book value | Provision for impairment | Carrying amounts | |
| Investment to subsidiaries | 192,210,766,946.00 | 92,000,000.00 | 192,118,766,946.00 | 179,426,966,866.00 | 92,000,000.00 | 179,334,966,866.00 |
| Investment to joint ventures and associated enterprises | 2,432,896,678.00 | 0.00 | 2,432,896,678.00 | 2,800,090,342.00 | 0.00 | 2,800,090,342.00 |
| Total | 194,643,663,624.00 | 92,000,000.00 | 194,551,663,624.00 | 182,227,057,208.00 | 92,000,000.00 | 182,135,057,208.00 |
(1) Investment to Subsidiaries
Unit: RMB
| Investee | Beginning balance (carrying value) | Increase/decrease | Ending balance (carrying value) | Ending balance for impairment provisions | |||
| Additional investments | Reduced investments | Impairment provisions | Others | ||||
| BOE Semi-conductor Co., Ltd. | 9,450,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 9,450,000.00 | 0.00 |
| Beijing Yinghe Century Co., Ltd. | 333,275,229.00 | 0.00 | 0.00 | 0.00 | 4,280,334.00 | 337,555,563.00 | 0.00 |
| Beijing BOE Land Co., Ltd. | 7,752,973.00 | 0.00 | 0.00 | 0.00 | 386,970.00 | 8,139,943.00 | 0.00 |
| BOE (Heibei) Mobile Display Technology Co., Ltd. | 1,353,691,563.00 | 0.00 | 0.00 | 0.00 | 729,758.00 | 1,354,421,321.00 | 0.00 |
| BOE Hyundai LCD (Beijing) Display Technology Co., Ltd. | 31,181,960.00 | 0.00 | 0.00 | 0.00 | 2,581,776.00 | 33,763,736.00 | 0.00 |
| Beijing BOE Vacuum Electronics Co., Ltd. | 19,258,410.00 | 0.00 | 0.00 | 0.00 | 151,374.00 | 19,409,784.00 | 0.00 |
BOE Technology Group Co., Ltd. Interim Report 2021
| Beijing BOE Vacuum Technology Co., Ltd. | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 32,000,000.00 |
| Beijing BOE Optoelectronics Technology Co., Ltd. | 4,172,973,427.00 | 0.00 | 0.00 | 0.00 | 12,336,288.00 | 4,185,309,715.00 | 0.00 |
| Beijing Smart Aero Display Technology Co., Ltd. | 40,113,695.00 | 0.00 | 0.00 | 0.00 | 2,046,510.00 | 42,160,205.00 | 60,000,000.00 |
| BOE Optical Science and technology Co., Ltd. | 659,042,674.00 | 0.00 | 0.00 | 0.00 | 1,453,644.00 | 660,496,318.00 | 0.00 |
| Beijing BOE Marketing Co., Ltd. | 30,513,199.00 | 0.00 | 0.00 | 0.00 | 237,588.00 | 30,750,787.00 | 0.00 |
| Chengdu BOE Optoelectronics Technology Co., Ltd. | 25,004,494,319.00 | 0.00 | 0.00 | 0.00 | 24,198,030.00 | 25,028,692,349.00 | 0.00 |
| BOE (Korea) Co., Ltd. | 873,317.00 | 0.00 | 0.00 | 0.00 | 1,527,638.00 | 2,400,955.00 | 0.00 |
| BOE Optoelectronics Holdings Co., Ltd. | 3,211,961,538.00 | 0.00 | 0.00 | 0.00 | 0.00 | 3,211,961,538.00 | 0.00 |
| Beijing BOE Display Technology Co., Ltd. | 17,421,341,981.00 | 0.00 | 0.00 | 0.00 | 47,310,882.00 | 17,468,652,863.00 | 0.00 |
| Beijing BOE Energy Technology Co., Ltd. | 850,110,069.00 | 0.00 | 0.00 | 0.00 | 1,981,242.00 | 852,091,311.00 | 0.00 |
| Beijing BOE Multimedia Technology Co., Ltd. | 400,000,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 400,000,000.00 | 0.00 |
| Hefei BOE Optoelectronics Technology Co., Ltd. | 9,000,846,416.00 | 0.00 | 0.00 | 0.00 | 15,235,488.00 | 9,016,081,904.00 | 0.00 |
| Beijing?Matsushita Color CRT Co., Ltd. | 64,903.00 | 0.00 | 0.00 | 0.00 | 1,168,200.00 | 1,233,103.00 | 0.00 |
| Beijing BOE Video Technology Co., Ltd. (“BOE Video”) | 4,093,536,288.00 | 0.00 | 0.00 | 0.00 | 653,196.00 | 4,094,189,484.00 | 0.00 |
| Beijing BOE Life Technology Co., Ltd. | 10,000,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 10,000,000.00 | 0.00 |
| Beijing Zhongxiangying Technologies Co., Ltd. | 50,014,864.00 | 0.00 | 0.00 | 0.00 | 267,552.00 | 50,282,416.00 | 0.00 |
| Ordos Yuansheng Optoelectronics Co., Ltd. | 11,804,123,592.00 | 0.00 | 0.00 | 0.00 | 2,224,656.00 | 11,806,348,248.00 | 0.00 |
| Hefei Xinsheng Optoelectronics Technology Co., Ltd. | 20,084,018,610.00 | 0.00 | 0.00 | 0.00 | 18,709,254.00 | 20,102,727,864.00 | 0.00 |
| Chongqing BOE Optoelectronics Technology | 19,565,866,421.00 | 0.00 | 0.00 | 0.00 | 9,212,790.00 | 19,575,079,211.00 | 0.00 |
BOE Technology Group Co., Ltd. Interim Report 2021
| Co., Ltd. | |||||||
| Hefei BOE Display Technology Co., Ltd. | 1,999,338,939.00 | 0.00 | 0.00 | 0.00 | 10,324,710.00 | 2,009,663,649.00 | 0.00 |
| Fuzhou BOE Optoelectronics Technology Co., Ltd. | 14,300,602,919.00 | 150,000,000.00 | 0.00 | 0.00 | 10,095,108.00 | 14,460,698,027.00 | 0.00 |
| BOE Healthcare Investment & Management Co., Ltd. | 6,093,167,584.00 | 480,000,000.00 | 0.00 | 0.00 | 243,252.00 | 6,573,410,836.00 | 0.00 |
| BOE Wisdom IOT Technology Co., Ltd. (“Wisdom IOT Technology”) | 142,344,796.00 | 0.00 | 142,000,000.00 | 0.00 | 6,206,322.00 | 6,551,118.00 | 0.00 |
| Hefei BOE Zhuoyin Technology Co., Ltd. | 600,066,764.00 | 0.00 | 0.00 | 0.00 | 1,201,800.00 | 601,268,564.00 | 0.00 |
| Beijing BOE Technology Development Co., Ltd. | 1,018,591.00 | 0.00 | 0.00 | 0.00 | 334,644.00 | 1,353,235.00 | 0.00 |
| Yunnan Chuangshijie Optoelectronic Technology Co., Ltd. | 1,290,918,433.00 | 109,820,000.00 | 0.00 | 0.00 | 1,591,794.00 | 1,402,330,227.00 | 0.00 |
| Beijing BOE Sensing Technology Co., Ltd. | 50,348,624.00 | 41,000,000.00 | 0.00 | 0.00 | 6,275,334.00 | 97,623,958.00 | 0.00 |
| Mianyang BOE Optoelectronics Technology Co., Ltd. | 15,977,360,915.00 | 6,339,085,322.00 | 0.00 | 0.00 | 6,854,838.00 | 22,323,301,075.00 | 0.00 |
| Wuhan BOE Optoelectronics Co., Ltd. | 5,998,882,896.00 | 0.00 | 0.00 | 0.00 | 5,982,846.00 | 6,004,865,742.00 | 0.00 |
| Chongqing BOE Display Technology Co., Ltd. | 3,958,981,997.00 | 2,085,566,000.00 | 0.00 | 0.00 | 3,431,220.00 | 6,047,979,217.00 | 0.00 |
| Fuzhou BOE Display Technology Co., Ltd. | 21,748,591.00 | 0.00 | 0.00 | 0.00 | 334,644.00 | 22,083,235.00 | 0.00 |
| Hefei BOE Xingyu Technology Co., Ltd. | 219,197,471.00 | 0.00 | 0.00 | 0.00 | 1,052,448.00 | 220,249,919.00 | 0.00 |
| BOE Innovation Investment Co., Ltd. | 440,000,000.00 | 757,000,000.00 | 0.00 | 0.00 | 0.00 | 1,197,000,000.00 | 0.00 |
| BOE Education Technology Co., Ltd. | 25,073,981.00 | 0.00 | 0.00 | 0.00 | 1,331,616.00 | 26,405,597.00 | 0.00 |
| BOE Smart Technology Co., Ltd. | 1,440,000,000.00 | 222,000,000.00 | 0.00 | 0.00 | 0.00 | 1,662,000,000.00 | 0.00 |
| Nanjing BOE Display Technology Co., Ltd. | 5,591,221,400.00 | 0.00 | 0.00 | 0.00 | 0.00 | 5,591,221,400.00 | 0.00 |
| Chengdu CEC Panda Display Technology Co., | 3,020,000,000.00 | 2,265,000,000.00 | 0.00 | 0.00 | 0.00 | 5,285,000,000.00 | 0.00 |
BOE Technology Group Co., Ltd. Interim Report 2021
| Ltd. | |||||||
| Oriental Chengqi (Beijing) Business Technology Co., Ltd. | 8,000,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 8,000,000.00 | 0.00 |
| BOE Jingxin Technology Co., Ltd. | 0.00 | 235,000,000.00 | 0.00 | 0.00 | 0.00 | 235,000,000.00 | 0.00 |
| Others | 2,187,517.00 | 0.00 | 0.00 | 0.00 | 39,375,012.00 | 41,562,529.00 | 0.00 |
| Total | 179,334,966,866.00 | 12,684,471,322.00 | 142,000,000.00 | 0.00 | 241,328,758.00 | 192,118,766,946.00 | 92,000,000.00 |
All the others are the equityincentive payments used to pay to the sub-subsidiaries of each subsidiary ofthe BOE Group.
BOE Technology Group Co., Ltd. Interim Report 2021
(2) Investment to Joint Ventures and Associated Enterprises
Unit: RMB
| The investor | Beginning balance (carrying value) | Increase/decrease | Ending balance (carrying value) | Ending balance for impairment provisions | |||||||
| Additional investments | Reduced investments | 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 | Impairment provisions | Others | ||||
| I. Joint ventures | |||||||||||
| N/A | |||||||||||
| II. Associated enterprises | |||||||||||
| Beijing Nissin Electronics Precision Component Co., Ltd. | 263,858.00 | 0.00 | 0.00 | 938,625.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1,202,483.00 | 0.00 |
| Beijing Nittan Electronic Co., Ltd. | 71,396,821.00 | 0.00 | 0.00 | 4,753,636.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 76,150,457.00 | 0.00 |
| Beijing Infi-Hailin Venture Investment Co., Ltd. | 1,166,524.00 | 0.00 | 0.00 | -830,360.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 336,164.00 | 0.00 |
| Erdos BOE Energy Investment Co., | 8,163,137.00 | 0.00 | 0.00 | -332,005.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 7,831,132.00 | 0.00 |
BOE Technology Group Co., Ltd. Interim Report 2021
| Ltd. | |||||||||||
| Beijing Fly Hailin Investment Center (LLP) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| TPV Display Technology (China) Limited | 24,828,264.00 | 0.00 | 0.00 | 2,014,621.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 26,842,885.00 | 0.00 |
| Beijing XindongNeng Investment Fund (LLP) | 2,058,142,325.00 | 0.00 | 319,214,968.00 | 6,750,375.00 | -66,822,001.00 | 0.00 | -2,000,000.00 | 0.00 | 0.00 | 1,676,855,731.00 | 0.00 |
| Beijing Xindongneng Investment Management Co., Ltd. | 7,921,626.00 | 0.00 | 0.00 | 1,852,544.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 9,774,170.00 | 0.00 |
| Shenzhen Yunyinggu Technology Co., Ltd. | 21,910,887.00 | 0.00 | 0.00 | -3,337,280.00 | -134,514.00 | 1,152,357.00 | 0.00 | 0.00 | 0.00 | 19,591,450.00 | 0.00 |
| Beijing Xloong Technologies Co., Ltd. | 19,766,940.00 | 0.00 | 0.00 | 123,032.00 | 0.00 | 773,082.00 | 0.00 | 0.00 | 0.00 | 20,663,054.00 | 0.00 |
| Beijing Innovation Industry Investment Co., Ltd. | 204,063,254.00 | 0.00 | 0.00 | 997,328.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 205,060,582.00 | 0.00 |
BOE Technology Group Co., Ltd. Interim Report 2021
| Beijing Electric Control Industry Investment Co., Ltd. | 200,283,114.00 | 0.00 | 0.00 | 809,487.00 | 2,642,278.00 | 0.00 | 0.00 | 0.00 | 0.00 | 203,734,879.00 | 0.00 |
| Hunan BOE Yiyun Science & Technology Co., Ltd. | 182,183,592.00 | 0.00 | 0.00 | 1,368,215.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 183,551,807.00 | 0.00 |
| Guoke BOE (Shanghai) Equity Investment Management Co., Ltd. | 0.00 | 2,571,400.00 | 0.00 | -1,269,516.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1,301,884.00 | 0.00 |
| Sub-total | 2,800,090,342.00 | 2,571,400.00 | 319,214,968.00 | 13,838,702.00 | -64,314,237.00 | 1,925,439.00 | -2,000,000.00 | 0.00 | 0.00 | 2,432,896,678.00 | 0.00 |
| Total | 2,800,090,342.00 | 2,571,400.00 | 319,214,968.00 | 13,838,702.00 | -64,314,237.00 | 1,925,439.00 | -2,000,000.00 | 0.00 | 0.00 | 2,432,896,678.00 | 0.00 |
BOE Technology Group Co., Ltd. Interim Report 2021
(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 | 3,046,433,371.00 | 3,174,980.00 | 1,279,370,090.00 | 4,782,548.00 |
| Other operating activities | 10,053,772.00 | 2,565,504.00 | 10,513,236.00 | 2,843,786.00 |
| Total | 3,056,487,143.00 | 5,740,484.00 | 1,289,883,326.00 | 7,626,334.00 |
Relevant information of revenue
Unit: RMB
| Category of contracts | Segment 1 | Segment 2 | Total | |
| Types of products | 0.00 | 0.00 | 0.00 | |
| Of which: | ||||
| By operating places | 0.00 | 0.00 | 0.00 | |
| Of which: | ||||
| By types of market or customers | 0.00 | 0.00 | 0.00 | |
| Of which: | ||||
| Types of contracts | 0.00 | 0.00 | 0.00 | |
| Of which: | ||||
| By the time of transferring goods | 0.00 | 0.00 | 0.00 | |
| Of which: | ||||
| By contract term | 0.00 | 0.00 | 0.00 | |
| Of which: | ||||
| By marketing channel | 0.00 | 0.00 | 0.00 | |
| Of which: | ||||
| Total | 0.00 | 0.00 | 0.00 |
Information related to performance obligations:
Generally, the Group undertakes the contract performance obligations of providing customers with commodity sales and services.For commodity sales obligation, if sales return terms are provided, the recognition of revenue should be capped at the cumulativerecognized revenue that will probably not be reversed; for contract performance obligation fulfilled in a time period, the revenueshould be recognized according to the progress towards contract completion; for quality assurance provided for customers, as it isgenerally guaranteed quality assurance, it is not treated as an individual contract performance obligation.
BOE Technology Group Co., Ltd. Interim Report 2021
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 yetwas RMB0.00 at the period-end, among which RMB0.00 was expected to be recognized in 0 year, RMB0.00 in 0 year and RMB0.00in 0 year.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 | 1,680,000,000.00 | 850,000,000.00 |
| Income from long-term equity investments accounted for using equity method | 13,838,703.00 | -11,034,399.00 |
| Investment income from disposal of long-term equity investments | 0.00 | 0.00 |
| Investment income arising from holding of trading financial assets | 0.00 | 0.00 |
| Investment income from disposal of financial assets held for trading | 0.00 | 0.00 |
| Dividend income received from holding of other equity instrument investment | 3,554,579.00 | 1,842,132.00 |
| 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 |
| Total | 1,697,393,282.00 | 840,807,733.00 |
6. Other
N/A
XVIII 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 | 147,769,658.00 | N/A |
BOE Technology Group Co., Ltd. Interim Report 2021
| Tax rebates, reductions and exemptions given with ultra vires approval or in lack of official approval documents | 0.00 | N/A |
| Government subsidies charged to current profit or loss (exclusive of government subsidies given in the Company’s ordinary course of business at fixed quotas or amounts as per the government’s uniform standards) | 1,125,750,664.00 | N/A |
| Capital occupation charges on non-financial enterprises that are charged to current profit or loss | 0.00 | 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 |
| Gain or loss on non-monetary asset swaps | 0.00 | N/A |
| Gain or loss on assets entrusted to other entities for investment or management | 0.00 | N/A |
| Allowance for asset impairments due to acts of God such as natural disasters | 0.00 | N/A |
| Gain or loss on debt restructuring | 0.00 | N/A |
| Restructuring costs in staff arrangement, integration, etc. | 0.00 | N/A |
| Gain or loss on the over-fair value amount as a result of transactions with distinctly unfair prices | 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 contingencies that do not arise in the Company’s ordinary course of business | 0.00 | N/A |
| Gain or loss on fair-value changes in held-for-trading and derivative financial assets and liabilities & income from disposal of held-for-trading and derivative financial assets and liabilities and other investments in debt obligations (exclusive of the effective portion of hedges that arise in the Company’s ordinary course of business) | 46,230,279.00 | N/A |
| Reversed portions of impairment allowances for accounts receivable and contract assets which are tested individually for impairment | 12,706,456.00 | N/A |
| Gain or loss on loan entrustments | 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 |
| Effects of all adjustments required by taxation, accounting and other applicable laws and regulations on current profit or loss | 0.00 | N/A |
| Income from charges on entrusted management | 0.00 | N/A |
| Other non-operating income and expenses besides items above | 28,677,012.00 | N/A |
| Other items qualified as extraordinary gain and loss | 0.00 | N/A |
| Less: Income tax effects | 124,486,027.00 | N/A |
| Non-controlling interests effects | 136,239,846.00 | N/A |
BOE Technology Group Co., Ltd. Interim Report 2021
| Total | 1,100,408,196.00 | -- |
Explain the reasons if the Company classifies an item as an extraordinary gain/loss according to the definition in the ExplanatoryAnnouncement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Non-recurring Profit orLoss, or classifies any extraordinary gain/loss item mentioned in the said explanatory announcement as a recurrent gain/loss item.
□ 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 | 13.40% | 0.363 | 0.363 |
| Net profit excluding extraordinary gain and loss attributable to the Company’s ordinary equity shareholders | 12.22% | 0.331 | 0.331 |
3. Other
N/A