THIRD QUARTER REPORT 2017
October 2017
BOE Technology Group Co., Ltd. Third Quarter Report 2017
Part I Important Statements
The board of directors (the “Board”), the supervisory board (the “Supervisory
Board”) as well as the directors, supervisors and senior management of BOE
Technology Group Co., Ltd. (the “Company”) hereby guarantee the factuality,
accuracy and completeness of the contents of this Report, and shall be jointly
and severally liable for any false representation, misleading statements or
material omissions in this Report.
All the directors of the Company attended the board meeting for the review of
this Report.
Mr. Wang Dongsheng, head of the Company, Mr. Chen Yanshun, President of
the Executive Committee (CEO), Ms. Sun Yun, accounting head for this Report,
and Ms. Yang Xiaoping, head of the accounting department (head of accounting)
of the Company, hereby guarantee that the financial statements carried in this
Report are factual, accurate and complete.
This Report has been prepared in both Chinese and English. Should there be
any discrepancies or misunderstandings between the two versions, the Chinese
version shall prevail.
BOE Technology Group Co., Ltd. Third Quarter Report 2017
Part II Company Fundamentals
I Key Consolidated Operating Results
Indicate by tick mark whether the Company needs to retrospectively restate any of its accounting data.
□ Yes √ No
Item September 30, 2017 December 31, 2016 Change
Total assets (RMB Yuan) 238,955,632,292.00 205,135,011,042.00 16.49%
Equity attributable to owners of the
83,724,702,000.00 78,699,988,493.00 6.38%
parent (RMB Yuan)
Item July-September 2017 YoY change January-September 2017 YoY change
Net sales (RMB Yuan) 24,803,328,149.00 27.89% 69,408,356,144.00 51.41%
Net margin attributable to owners
2,173,061,620.00 230.68% 6,475,667,220.00 4,503.51%
of the parent (RMB Yuan)
Net margin attributable to owners
of the parent before exceptional 1,899,046,822.00 239.86% 5,916,890,931.00 -
gains and losses (RMB Yuan)
Net cash from operating activities
-- -- 18,491,007,288.00 182.39%
(RMB Yuan)
Basic earnings per share (RMB
0.062 226.32% 0.185 4,525.00%
Yuan/share)
Diluted earnings per share (RMB
0.062 226.32% 0.185 4,525.00%
Yuan/share)
Weighted average return on equity
2.66% 1.81% 7.96% 7.78%
(%)
Exceptional gains and losses:
√ Applicable □ Not applicable
Unit: RMB Yuan
Item January-September 2017 Note
Gains/losses on the disposal of non-current assets (including the offset part of asset
-52,833,590.00 N/A
impairment provisions)
Tax rebates, reductions or exemptions due to approval beyond authority or the lack of
0.00 N/A
official approval documents
Government grants recognized in the current period, except for those acquired in the
ordinary course of business or granted at certain quotas or amounts according to the 612,352,020.00 N/A
country’s unified standards
BOE Technology Group Co., Ltd. Third Quarter Report 2017
Capital occupation charges on non-financial enterprises that recorded into current gains
0.00 N/A
and losses
Gains due to that the investment costs for the Company to obtain subsidiaries,
associates and joint ventures are lower than the enjoyable fair value of the identifiable 0.00 N/A
net assets of the investees when making the investments
Gain/loss on non-monetary asset swap 0.00 N/A
Gain/loss on entrusting others with investments or asset management 0.00 N/A
Asset impairment provisions due to acts of God such as natural disasters 0.00 N/A
Gain/loss on debt restructuring 0.00 N/A
Expenses for business reorganization, such as expenses for staffing, reorganization etc. 0.00 N/A
Gain/loss on the part over the fair value due to transactions with distinctly unfair prices 0.00 N/A
Current gains and losses of subsidies acquired from business combination under the
0.00 N/A
same control as from period-begin to combination date
Gain/loss on contingent events irrelevant to the Company’s normal business 0.00 N/A
Gains and losses on change in fair value from tradable financial assets and tradable
financial liabilities, as well as investment income from disposal of tradable financial
58,259,670.00 N/A
assets and tradable financial liabilities and financial assets available for sales, except
for effective hedging related with normal businesses of the Company
Reversal of impairment provisions for the accounts receivable on which impairment
698,969.00 N/A
tests were carried out separately
Gain/loss on external entrustment loans 0.00 N/A
Gain/loss on change of the fair value of investing real estate of which the subsequent
0.00 N/A
measurement is carried out adopting the fair value method
Effect on current gains/losses when a one-off adjustment is made to current
gains/losses according to requirements of taxation, accounting and other relevant laws 0.00 N/A
and regulations
Custody fee income when entrusted with operation 0.00 N/A
Non-operating incomes and expenses other than the above 38,050,135.00 N/A
Other gain/loss items that meet the definition of an extraordinary gain/loss 0.00 N/A
Less: Income tax effects 73,358,157.00 N/A
Minority interests effects (after tax) 24,392,758.00 N/A
Total 558,776,289.00 --
Explanation of why the Company classified an item as an exceptional gain/loss according to the definition in the Explanatory
Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Gains and
Losses, or reclassified any exceptional gain/loss item given as an example in the said explanatory announcement as a recurrent
gain/loss:
□ Applicable √ Not applicable
No such cases in the Reporting Period.
BOE Technology Group Co., Ltd. Third Quarter Report 2017
II Total Number of Shareholders and Shareholdings of Top 10 Shareholders at Period-End
1. Numbers of Common Shareholders and Preference Shareholders with Resumed Voting Rights, and
Shareholdings of Top 10 Shareholders
Unit: share
Total number of common shareholders
979,167 (A-shareholders: 941,875; B-shareholders: 37,292)
at period-end
Top 10 shareholders
Nature of Shareholding Total shares held Restricted shares Pledged or frozen shares
Name of shareholder
shareholder percentage at period-end held at period-end Status Number
Beijing State-owned
State-owned
Capital Management 11.68% 4,063,333,333 0 N/A
Corporation
Center
Chongqing Capital
State-owned
Photoelectricity 8.62% 3,000,000,000 0 N/A
Corporation
Investment Co., Ltd.
Hefei Jianxiang State-owned
8.21% 2,857,142,857 0 N/A
Investment Co., Ltd. Corporation
Beijing
Economic-Technologi State-owned
3.57% 1,241,423,641 0 N/A
cal Investment & Corporation
Development Corp.
Beijing BOE
Investment & State-owned
2.36% 822,092,180 0 N/A
Development Co., Corporation
Ltd.
National Social
Security Fund Other 1.58% 550,038,713 0 N/A
Portfolio 108
Hong Kong Securities
Foreign
Clearing Company 0.88% 305,284,592 0 N/A
corporation
Ltd.
Beijing Electronics
Nation 0.79% 273,735,583 0 N/A
Holdings Co., Ltd.
Central Huijin State-owned
0.71% 248,305,300 0 N/A
Investment Ltd. Corporation
National Social
Security Fund Other 0.64% 223,371,500 0 N/A
Portfolio 101
BOE Technology Group Co., Ltd. Third Quarter Report 2017
Top 10 non-restricted shareholders
Type of stock
Name of shareholder Non-restricted shares held at period-end
Type Number
Beijing State-owned Capital RMB ordinary
4,063,333,333 4,063,333,333
Management Center shares
Chongqing Capital Photoelectricity RMB ordinary
3,000,000,000 3,000,000,000
Investment Co., Ltd. shares
RMB ordinary
Hefei Jianxiang Investment Co., Ltd. 2,857,142,857 2,857,142,857
shares
Beijing Economic-Technological RMB ordinary
1,241,423,641 1,241,423,641
Investment & Development Corp. shares
Beijing BOE Investment & RMB ordinary
822,092,180 822,092,180
Development Co., Ltd. shares
National Social Security Fund Portfolio RMB ordinary
550,038,713 550,038,713
108 shares
Hong Kong Securities Clearing RMB ordinary
305,284,592 305,284,592
Company Ltd. shares
RMB ordinary
Beijing Electronics Holdings Co., Ltd. 273,735,583 273,735,583
shares
RMB ordinary
Central Huijin Investment Ltd. 248,305,300 248,305,300
shares
National Social Security Fund Portfolio RMB ordinary
223,371,500 223,371,500
101 shares
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 Capital Photoelectricity 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
Related or acting-in-concert parties
executing the voting rights of the shareholders.
among shareholders above
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 relationship among the above shareholders, the Company is not aware of
BOE Technology Group Co., Ltd. Third Quarter Report 2017
whether the other top ten shareholders exist associated relationship or not, or they are
persons acting in concert or not.
Top 10 common shareholders
conducting securities margin trading (if N/A
any)
Indicate by tick mark whether any of the top 10 common shareholders or the top 10 non-restricted common shareholders of the
Company conducted any promissory repo during the Reporting Period.
□ Yea √ No
No such cases in the Reporting Period.
2. Total Number of Preference Shareholders and Shareholdings of Top 10 of Them at Period-End
□ Applicable √ Not applicable
BOE Technology Group Co., Ltd. Third Quarter Report 2017
Part III Significant Events
I Changes in Key Consolidated Financial Statement Items and Reasons for Such Changes
√ Applicable □ Not applicable
Unit: RMB Yuan
September 30, December 31,
Item 2017/January-September 2016/January-September Change Main reason for change
2017
Increased investments in wealth
Other current assets 15,032,948,154 5,691,200,226 164%
management products
Long-term equity
2,353,204,156 1,356,111,395 74% Increased investments in associates
investments
Higher expenditure on construction
Construction in progress 49,719,431,282 33,008,248,720 51%
and equipment purchases
Partial repayment of bank loans in the
Short-term borrowings 1,678,999,556 4,916,965,507 -66%
current period
Non-current liabilities due Reclassification of long-term
11,361,177,187 3,684,236,935 208%
within one year borrowings in the current period
Long-term accounts payable 2,399,693,429 1,261,446,565 90% Increased finance leases
A larger business size and a positive
Net sales 69,408,356,144 45,841,905,735 51%
industry outlook
Selling expense 1,988,692,991 1,172,795,371 70% Increased sales activities
Income tax expense 1,353,027,097 120,127,244 1026% Substantial increase in earnings
Net cash from operating
18,491,007,288 6,548,148,538 182% Increase in earnings
activities
Net cash from investing Higher expenditure on construction
-47,711,823,118 -17,914,918,712 165%
activities and equipment purchases
Net cash from financing Specialized borrowings for new
27,057,943,017 11,139,226,214 143%
activities construction projects
II Progress, Influence and Solutions Associated with Significant Events
√ Applicable □ Not applicable
1. On Jul.15, 2016, BOE disclosed Plan on Repurchasing Part of BOE’s Public Share, which was passed in 3th extraordinary general
meeting in 2016. On Sep. 20, 2016, BOE implemented the plan for the first time. The plan is expired on August 18, 2017 (expired
date of repurchase period). BOE has repurchased 88,692,299 A-shares (max. price: RMB 2.92 Yuan /share, min. price: RMB 2.36
BOE Technology Group Co., Ltd. Third Quarter Report 2017
Yuan /share, total payment: RMB226,525,285.07 Yuan (commission and other fixed charged included)), and 265,976,681 B-shares
(max. price: 3.45 HKD /share, min. price: 2.12 HKD /share, total payment: 799,996,931.17 HKD (commission and other fixed
charged included)). For more details, see Announcement No. 2017-046 on Consummation of Partial Repurchase of Public Shares
disclosed by the Company on August 22, 2017.
2. The Company disclosed the Announcement on 2016 Annual Profit Distribution on July 8, 2017. The profit distribution plan had
been considered and approved at the 2016 Annual Meeting of Shareholders on June 9, 2017. For the year 2016, the Company would
distribute a cash dividend of RMB 0.3 Yuan per 10 shares (cash dividends for B-shareholders would be paid in HKD as per the
central parity rate between RMB and HKD declared by the People’s Bank of China on the first working day after the profit
distribution resolution was made by the Company’s meeting of shareholders), without bonus shares or shares converted from capital
reserve.
3. BOE Technology (HK) Limited, one of the Company’s wholly-owned subsidiaries, filed a lawsuit before the Beijing High People’s
Court over a disputed sales contract against LeTV Mobile Intelligent Information Technology (Beijing) Co., Ltd., LeTV Holdings
(Beijing) Co., Ltd., Le Sai Mobile Technology (Beijing) Co., Ltd. and Mr. Jia Yueting for approximately USD41.84 million in total.
The court has issued the Case Acceptance Notice and the Civil Ruling for property preservation respectively on July 6, 2017 and July
31, 2017. The Company has made a bad-debt provision for the amount claimed as per the accounting standards. Currently, the court
is going through the property preservation procedure and the case is awaiting the court’s trial. Therefore, its effects on the Company
are uncertain.
Announcement of significant event Disclosure date Disclosure website
Announcement on Signing Investment Framework Agreement 08/11/2017 http://www.cninfo.com.cn
Announcement on Receipt of Government Subsidy by Subsidiary 09/29/2017 http://www.cninfo.com.cn
III Commitments that the Company’s Actual Controller, Shareholders, Related Parties and
Acquirers, as well as the Company and Other Commitment Makers, Failed to Fulfill on Time
during Reporting Period
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IV Forecast of 2017 Annual Operating Results
Warning of a possible loss on or a significant year-over-year change in cumulative net margin during the period the beginning of the
current year through the end of the next reporting period, as well as the reasons:
□ Applicable √ Not applicable
BOE Technology Group Co., Ltd. Third Quarter Report 2017
V Securities Investments
√ Applicable □ Not applicable
Profit/loss
on fair Cumulative
Sold in Source of
Variety of Code of Name of Initial Accounting value fair value Purchased in Profit/loss in
Opening book this Closing book
measurement changes in changes this Reporting this Reporting Accounting title investment
securities securities securities investment cost value Reporting value
model this charged to Period Period
Period funds
Reporting equity
Period
Domestic/overseas TPV Fair value Available-for-sale
HK00903 134,658,158.00 28,763,373.00 0.00 726,746.00 0.00 0.00 792,019.00 28,770,053.00 Subscription
stock Technology method financial asset
Domestic/overseas Electronic Fair value Available-for-sale
SH600658 90,160,428.00 129,715,503.00 0.00 61,731,579.00 0.00 0.00 0.00 108,407,203.00 Share swap
stock Zone method financial asset
Domestic/overseas Bank of Fair value Available-for-sale
HK01963 120,084,375.00 148,067,614.00 0.00 16,043,393.00 0.00 0.00 7,331,745.00 136,127,768.00 Subscription
stock Chongqing method financial asset
Domestic/overseas China Fair value Available-for-sale
HK06066 70,041,364.00 69,367,469.00 0.00 -388,957.00 0.00 0.00 2,049,750.00 69,652,407.00 Subscription
stock Securities method financial asset
New century
Domestic/overseas Fair value Available-for-sale
HK01518 medical 142,474,623.00 0.00 0.00 19,544,318.00 142,474,623.00 0.00 0.00 162,018,941.00 Subscription
stock method financial asset
treatment
BlackRock
GF World Fair value Available-for-sale
Funds Naught 4,004,297.00 5,974,163.00 0.00 2,215,690.00 0.00 0.00 0.00 6,219,988.00 Subscription
Healthscience method financial asset
A2 USD
Other securities investments held at the
0.00 -- 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -- --
period-end
Total 561,423,245.00 -- 381,888,122.00 0.00 99,872,769.00 142,474,623.00 0.00 10,173,514.00 511,196,360.00 -- --
Disclosure date of the announcement about Naught
BOE Technology Group Co., Ltd. Third Quarter Report 2017
the board’s consent for the securities
investment
Disclosure date of the announcement about
the general meeting’s consent for the Naught
securities investment (if any)
VI Investments in Derivative Financial Instruments
□ Applicable √ Not applicable
No such cases in the Reporting Period.
BOE Technology Group Co., Ltd. Third Quarter Report 2017
VII Visits Paid to the Company for Purposes of Research, Communication, Interview, etc.
during Reporting Period
√ Applicable □ Not applicable
Date of visit Way of visit Type of visitor About
07/03/2017 By one-on-one meeting Institution
07/06/2017 By one-on-one meeting Institution
07/07/2017 By phone Institution
07/07/2017 By phone Institution
07/11/2017 By one-on-one meeting Institution
07/11/2017 By one-on-one meeting Institution
07/12/2017 By one-on-one meeting Institution
07/13/2017 By one-on-one meeting Institution
Main discussion:
08/21/2017 By one-on-one meeting Institution
1. The performance of the Company and
08/29/2017 By one-on-one meeting Institution
industry conditions
08/31/2017 By phone Institution 2. Operating situation of the Company
09/05/2017 By one-on-one meeting Institution 3. Technological and product innovations
09/11/2017 By one-on-one meeting Institution 4. The future development strategy of the
Company
09/15/2017 By phone Institution
See www.cninfo.com.cn for details
09/18/2017 By one-on-one meeting Institution
09/19/2017 By phone Institution
09/20/2017 By one-on-one meeting Institution
09/20/2017 By phone Institution
09/21/2017 By one-on-one meeting Institution
09/22/2017 By one-on-one meeting Institution
09/25/2017 By one-on-one meeting Institution
09/28/2017 By one-on-one meeting Institution
09/29/2017 By one-on-one meeting Institution
BOE Technology Group Co., Ltd. Third Quarter Report 2017
VIII Irregularities Arising from Provision of Guarantees for Third Parties
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IX Occupation of the Company’s Funds by Its Controlling Shareholder or Related Parties for
Non-Operating Purposes
□ Applicable √ Not applicable
No such cases in the Reporting Period.
X Targeted Measures Taken to Help People Lift Themselves out of Poverty
The Company did not take such measures in the third quarter of the year and has no such plans for now.
BOE Technology Group Co., Ltd. Third Quarter Report 2017
Part IV Financial Statements
I Financial Statements
1. Consolidated Balance Sheet
Prepared by BOE Technology Group Co., Ltd.
September 30, 2017
Unit: RMB Yuan
Item September 30, 2017 December 31, 2016
Current assets:
Cash on hand and at bank 53,519,407,759.00 58,152,817,223.00
Settlement reserve 0.00 0.00
Interbank lendings 0.00 0.00
Financial assets at fair value through gains/losses 0.00 0.00
Derivative financial assets 0.00 0.00
Notes receivable 1,266,574,627.00 1,369,836,650.00
Accounts receivable 15,052,229,887.00 16,191,791,617.00
Prepayments 827,453,107.00 708,511,473.00
Premiums receivable 0.00 0.00
Reinsurance premiums receivable 0.00 0.00
Receivable reinsurance contract reserve 0.00 0.00
Interest receivable 102,086,542.00 125,141,573.00
Dividends receivable 0.00 0.00
Other accounts receivable 819,425,747.00 903,069,416.00
Financial assets purchased under agreements to resell 0.00 0.00
Inventories 9,363,701,031.00 7,833,138,532.00
Assets held for sale 0.00 0.00
Non-current assets due within one year 29,356,094.00 66,321,715.00
Other current assets 15,032,948,154.00 5,691,200,226.00
Total current assets 96,013,182,948.00 91,041,828,425.00
Non-current assets:
Loans and advances to customers 0.00 0.00
Available-for-sale financial assets 850,425,725.00 622,502,556.00
Held-to-maturity investments 0.00 0.00
BOE Technology Group Co., Ltd. Third Quarter Report 2017
Long-term accounts receivable 0.00 0.00
Long-term equity investments 2,353,204,156.00 1,356,111,395.00
Investment property 1,270,206,652.00 1,192,932,896.00
Fixed assets 80,589,869,844.00 69,947,586,967.00
Construction in progress 49,719,431,282.00 33,008,248,720.00
Engineering materials 0.00 0.00
Disposal of fixed assets 0.00 0.00
Productive living assets 0.00 0.00
Oil-gas assets 0.00 0.00
Intangible assets 3,285,107,422.00 3,136,873,387.00
R&D expense 0.00 0.00
Goodwill 197,963,688.00 197,963,688.00
Long-term deferred expense 300,117,127.00 344,891,227.00
Deferred income tax assets 136,474,642.00 146,538,565.00
Other non-current assets 4,239,648,806.00 4,139,533,216.00
Total non-current assets 142,942,449,344.00 114,093,182,617.00
Total assets 238,955,632,292.00 205,135,011,042.00
Current liabilities:
Short-term borrowings 1,678,999,556.00 4,916,965,507.00
Borrowings from Central Bank 0.00 0.00
Money deposits accepted and inter-bank deposits 0.00 0.00
Interbank borrowings 0.00 0.00
Financial liabilities at fair value through gains/losses 0.00 0.00
Derivative financial liabilities 0.00 0.00
Notes payable 450,879,127.00 640,262,461.00
Accounts payable 14,362,344,001.00 13,835,615,665.00
Advances received 592,466,995.00 548,942,714.00
Financial assets sold for repurchase 0.00 0.00
Fees and commissions payable 0.00 0.00
Payroll payable 1,839,337,835.00 1,542,852,266.00
Taxes payable 666,522,029.00 656,351,894.00
Interest payable 288,651,102.00 676,358,748.00
Dividends payable 9,651,170.00 9,651,170.00
Other accounts payable 15,060,458,418.00 14,395,525,248.00
BOE Technology Group Co., Ltd. Third Quarter Report 2017
Reinsurance premiums payable 0.00 0.00
Insurance contract reserve 0.00 0.00
Payables for acting trading of securities 0.00 0.00
Payables for acting underwriting of securities 0.00 0.00
Liabilities held for sale 0.00 0.00
Non-current liabilities due within one year 11,361,177,187.00 3,684,236,935.00
Other current liabilities 1,075,012,828.00 532,983,474.00
Total current liabilities 47,385,500,248.00 41,439,746,082.00
Non-current liabilities:
Long-term borrowings 64,350,162,666.00 49,885,166,211.00
Bonds payable 9,963,993,556.00 9,956,719,508.00
Of which: Preference shares 0.00 0.00
Perpetual bonds 0.00 0.00
Long-term accounts payable 2,399,693,429.00 1,261,446,565.00
Long-term payroll payable 0.00 0.00
Special payables 0.00 0.00
Provisions 16,457,010.00 16,457,010.00
Deferred income 2,203,546,515.00 2,494,122,929.00
Deferred income tax liabilities 491,907,958.00 448,625,054.00
Other non-current liabilities 7,360,615,837.00 7,616,672,523.00
Total non-current liabilities 86,786,376,971.00 71,679,209,800.00
Total liabilities 134,171,877,219.00 113,118,955,882.00
Owners’ equity:
Share capital 34,798,398,763.00 35,153,067,743.00
Other equity instruments 0.00 0.00
Of which: Preference shares 0.00 0.00
Perpetual bonds 0.00 0.00
Capital reserve 38,661,932,995.00 39,031,357,529.00
Less: Treasury shares 0.00 314,350,824.00
Other comprehensive income 81,085,955.00 75,718,703.00
Special reserve 0.00 0.00
Surplus reserve 743,139,855.00 743,139,855.00
Provisions for general risks 0.00 0.00
Retained earnings 9,440,144,432.00 4,011,055,487.00
BOE Technology Group Co., Ltd. Third Quarter Report 2017
Equity attributable to owners of the parent 83,724,702,000.00 78,699,988,493.00
Minority interests 21,059,053,073.00 13,316,066,667.00
Total owners’ equity 104,783,755,073.00 92,016,055,160.00
Total liabilities and owners’ equity 238,955,632,292.00 205,135,011,042.00
Legal representative: Wang Dongsheng Accounting head for this Report: Sun Yun
Head of the accounting department: Yang Xiaoping
2. Parent Company Balance Sheet
Unit: RMB Yuan
Item September 30, 2017 December 31, 2016
Current assets:
Cash on hand and at bank 3,537,706,396.00 7,649,349,412.00
Financial assets at fair value through gains/losses 0.00 0.00
Derivative financial assets 0.00 0.00
Notes receivable 1,570,000.00 200,197,354.00
Accounts receivable 46,236,030.00 45,853,859.00
Prepayments 8,441,203.00 7,462,061.00
Interest receivable 837,866.00 21,525,261.00
Dividends receivable 10,404,147.00 1,007,950,479.00
Other accounts receivable 1,190,520,730.00 1,629,176,234.00
Inventories 14,199,646.00 12,069,865.00
Assets held for sale 0.00 0.00
Non-current assets due within one year 3,517,380,000.00 0.00
Other current assets 49,863,390.00 25,504,074.00
Total current assets 8,377,159,408.00 10,599,088,599.00
Non-current assets:
Available-for-sale financial assets 155,865,288.00 177,166,908.00
Held-to-maturity investments 0.00 0.00
Long-term accounts receivable 0.00 0.00
Long-term equity investments 117,065,534,573.00 99,918,451,449.00
Investment property 260,036,822.00 164,540,581.00
Fixed assets 888,494,019.00 862,860,227.00
Construction in progress 340,105,334.00 468,494,838.00
BOE Technology Group Co., Ltd. Third Quarter Report 2017
Engineering materials 0.00 0.00
Disposal of fixed assets 0.00 0.00
Productive living assets 0.00 0.00
Oil-gas assets 0.00 0.00
Intangible assets 559,455,124.00 624,007,700.00
R&D expense 0.00 0.00
Goodwill 0.00 0.00
Long-term deferred expense 76,360,430.00 98,745,001.00
Deferred income tax assets 51,348,646.00 47,679,645.00
Other non-current assets 761,121,505.00 4,010,146,153.00
Total non-current assets 120,158,321,741.00 106,372,092,502.00
Total assets 128,535,481,149.00 116,971,181,101.00
Current liabilities:
Short-term borrowings 0.00 0.00
Financial liabilities at fair value through gains/losses 0.00 0.00
Derivative financial liabilities 0.00 0.00
Notes payable 0.00 0.00
Accounts payable 24,204,437.00 34,015,337.00
Advances received 845,528,732.00 1,093,593,891.00
Payroll payable 131,004,034.00 169,917,103.00
Taxes payable 9,349,712.00 80,897,741.00
Interest payable 216,256,054.00 281,124,448.00
Dividends payable 6,451,171.00 6,451,170.00
Other accounts payable 10,350,422,202.00 10,791,929,737.00
Liabilities held for sale 0.00 0.00
Non-current liabilities due within one year 3,902,380,000.00 100,000,000.00
Other current liabilities 0.00 0.00
Total current liabilities 15,485,596,342.00 12,557,929,427.00
Non-current liabilities:
Long-term borrowings 22,793,000,000.00 18,922,400,000.00
Bonds payable 9,963,993,555.00 9,956,719,508.00
Of which: Preference shares 0.00 0.00
Perpetual bonds 0.00 0.00
Long-term payables 0.00 0.00
BOE Technology Group Co., Ltd. Third Quarter Report 2017
Long-term payroll payable 0.00 0.00
Special payables 0.00 0.00
Provisions 0.00 0.00
Deferred income 150,691,390.00 148,987,694.00
Deferred income tax liabilities 0.00 0.00
Other non-current liabilities 6,049,820,000.00 0.00
Total non-current liabilities 38,957,504,945.00 29,028,107,202.00
Total liabilities 54,443,101,287.00 41,586,036,629.00
Owners’ equity:
Share capital 34,798,398,763.00 35,153,067,743.00
Other equity instruments 0.00 0.00
Of which: Preference shares 0.00 0.00
Perpetual bonds 0.00 0.00
Capital reserve 37,588,541,593.00 38,157,600,408.00
Less: Treasury shares 0.00 314,350,824.00
Other comprehensive income 131,021,840.00 152,323,461.00
Special reserve 0.00 0.00
Surplus reserve 743,139,855.00 743,139,855.00
Retained earnings 831,277,811.00 1,493,363,829.00
Total owners’ equity 74,092,379,862.00 75,385,144,472.00
Total liabilities and owners’ equity 128,535,481,149.00 116,971,181,101.00
3. Consolidated Income Statement for July-September
Unit: RMB Yuan
Item July-September 2017 July-September 2016
1. Operating revenue 24,803,328,149.00 19,393,595,018.00
Including: Net sales 24,803,328,149.00 19,393,595,018.00
Interest revenue 0.00 0.00
Premium revenue 0.00 0.00
Fee and commission revenue 0.00 0.00
2. Operating expenses 22,425,267,847.00 18,778,347,229.00
Including: Cost of sales 19,040,130,225.00 15,830,051,703.00
Interest expense 0.00 0.00
Fee and commission expense 0.00 0.00
BOE Technology Group Co., Ltd. Third Quarter Report 2017
Surrenders 0.00 0.00
Net 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 surtaxes 144,335,774.00 36,010,612.00
Selling expense 760,132,128.00 476,578,917.00
Administrative expense 1,832,825,349.00 1,566,701,446.00
Finance costs 314,247,859.00 605,193,496.00
Asset impairment losses 333,596,512.00 263,811,055.00
Add: Gains on fair value changes (“-” for losses) 0.00 17,222,416.00
Investment income (“-” for losses) 41,985,789.00 45,948,654.00
Including: Share of gains/losses of associates and joint ventures 4,320,922.00 1,312,003.00
Exchange gains (“-” for losses) 0.00 0.00
Other income 183,014,417.00 0.00
3. Operating margin (“-” for losses) 2,603,060,508.00 678,418,859.00
Add: Non-operating income 45,122,425.00 140,040,304.00
Including: Gains on disposal of non-current assets 610,695.00 1,927,726.00
Less: Non-operating expense 35,951,082.00 8,967,466.00
Including: Losses on disposal of non-current assets 34,186,362.00 7,212,245.00
4. Gross margin (“-” for losses) 2,612,231,851.00 809,491,697.00
Less: Income tax expense 412,765,482.00 63,868,933.00
5. Net margin (“-” for losses) 2,199,466,369.00 745,622,764.00
Attributable to owners of the parent 2,173,061,620.00 657,140,380.00
Attributable to minority interests 26,404,749.00 88,482,384.00
6. Other comprehensive income, net of tax -21,113,647.00 5,413,909.00
Other comprehensive income, net of tax attributable to owners
-4,000,944.00 -15,601,433.00
of the parent
6.1 Other comprehensive income that will not be reclassified
0.00 0.00
into gains/losses
6.1.1 Changes in net liabilities or assets with a defined
0.00 0.00
benefit plan upon re-measurement
6.1.2 Share of other comprehensive income of investees
0.00 0.00
that cannot be reclassified into gains/losses under equity method
6.2 Other comprehensive income to be subsequently
-4,000,944.00 -15,601,433.00
reclassified into gains/losses
BOE Technology Group Co., Ltd. Third Quarter Report 2017
6.2.1 Share of other comprehensive income of investees
0.00 0.00
that will be reclassified into gains/losses under equity method
6.2.2 Gains/Losses on fair value changes of
21,235,545.00 -2,061,569.00
available-for-sale financial assets
6.2.3 Gains/Losses on reclassifying held-to-maturity
0.00 0.00
investments into available-for-sale financial assets
6.2.4 Effective gains/losses on cash flow hedges 0.00 0.00
6.2.5 Currency translation differences -25,236,489.00 -13,539,864.00
6.2.6 Other 0.00 0.00
Other comprehensive income, net of tax attributable to minority
-17,112,703.00 21,015,342.00
interests
7. Total comprehensive income 2,178,352,722.00 751,036,673.00
Attributable to owners of the parent 2,169,060,676.00 641,538,947.00
Attributable to minority interests 9,292,046.00 109,497,726.00
8. Earnings per share
8.1 Basic earnings per share 0.062 0.019
8.2 Diluted earnings per share 0.062 0.019
Where business mergers under the same control occurred in the current period, the net margin achieved by the merged parties before
the business mergers was RMB Yuan0.00, with the amount for the same period of last year being RMB Yuan0.00.
Legal representative: Wang Dongsheng Accounting head for this Report: Sun Yun
Head of the accounting department: Yang Xiaoping
4. Parent Company Income Statement for July-September
Unit: RMB Yuan
Item July-September 2017 July-September 2016
1. Operating revenue 529,426,781.00 350,838,939.00
Less: Operating expenses 22,804,344.00 10,891,094.00
Taxes and surtaxes 449,900.00 138,162.00
Selling expense 169,256.00 424,337.00
Administrative expense 393,077,700.00 347,193,628.00
Finance costs 131,735,582.00 66,345,953.00
Asset impairment losses 0.00 0.00
Add: Gains on fair value changes (“-” for losses) 0.00 0.00
Investment income (“-” for loss) 4,182,766.00 101,975,111.00
Including: Share of gains/losses of associates and joint ventures 4,320,922.00 1,312,003.00
BOE Technology Group Co., Ltd. Third Quarter Report 2017
Other income 10,259,445.00 0.00
2. Operating margin (“-” for losses) -4,367,790.00 27,820,876.00
Add: Non-operating income 211,963.00 213,699,624.00
Including: Gains on disposal of non-current assets 76,085.00 0.00
Less: Non-operating expense 121,522.00 100,849.00
Including: Losses on disposal of non-current assets 3,592.00 88,011.00
3. Gross margin (“-” for losses) -4,277,349.00 241,419,651.00
Less: Income tax expense 0.00 19,661,520.00
4. Net margin (“-” for losses) -4,277,349.00 221,758,131.00
5. Other comprehensive income, net of tax -27,332,567.00 8,130,236.00
5.1 Other comprehensive income that will not be reclassified into
0.00 0.00
gains and losses
5.1.1 Changes in net liabilities or assets with a defined benefit
0.00 0.00
plan upon re-measurement
5.1.2 Share of other comprehensive income of investees that
0.00 0.00
cannot be reclassified into gains/losses under equity method
5.2 Other comprehensive income to be subsequently reclassified
-27,332,567.00 8,130,236.00
into gains/losses
5.2.1 Share of other comprehensive income of investees that will
0.00 0.00
be reclassified into gains/losses under equity method
5.2.2 Gains/Losses on fair value changes of available-for-sale
-27,332,567.00 8,130,236.00
financial assets
5.2.3 Gains/Losses on reclassifying held-to-maturity investments
0.00 0.00
into available-for-sale financial assets
5.2.4 Effective gains/losses on cash flow hedges 0.00 0.00
5.2.5 Currency translation differences 0.00 0.00
5.2.6 Other 0.00 0.00
6. Total comprehensive income -31,609,916.00 229,888,367.00
7. Earnings per share
7.1 Basic earnings per share -0.0001 0.0063
7.2 Diluted earnings per share -0.0001 0.0063
BOE Technology Group Co., Ltd. Third Quarter Report 2017
5. Consolidated Income Statement for January-September
Unit: RMB Yuan
Item January-September 2017 January-September 2016
1. Operating revenue 69,408,356,144.00 45,841,905,735.00
Including: Net sales 69,408,356,144.00 45,841,905,735.00
Interest revenue 0.00 0.00
Premium revenue 0.00 0.00
Fee and commission revenue 0.00 0.00
2. Operating expenses 61,820,017,178.00 47,615,377,413.00
Including: Cost of sales 51,275,396,814.00 39,817,142,861.00
Interest expense 0.00 0.00
Fee and commission expense 0.00 0.00
Surrenders 0.00 0.00
Net claims paid 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 surtaxes 500,036,766.00 128,940,793.00
Selling expense 1,988,692,991.00 1,172,795,371.00
Administrative expense 4,885,486,924.00 3,877,791,881.00
Finance costs 1,413,361,041.00 1,840,072,506.00
Asset impairment losses 1,757,042,642.00 778,634,001.00
Add: Gains on fair value changes (“-” for losses) 0.00 21,846,353.00
Investment income (“-” for losses) 61,147,940.00 110,942,976.00
Including: Share of gains/losses of associates and joint ventures -9,369,632.00 -9,868,958.00
Exchange gains (“-” for losses) 0.00 0.00
Other income 458,317,281.00 0.00
3. Operating margin (“-” for losses) 8,107,804,187.00 -1,640,682,349.00
Add: Non-operating income 99,629,003.00 1,933,773,186.00
Including: Gains on disposal of non-current assets 3,207,858.00 6,716,094.00
Less: Non-operating expense 60,377,719.00 14,844,397.00
Including: Losses on disposal of non-current assets 56,041,448.00 9,469,934.00
4. Gross margin (“-” for losses) 8,147,055,471.00 278,246,440.00
Less: Income tax expense 1,353,027,097.00 120,127,244.00
BOE Technology Group Co., Ltd. Third Quarter Report 2017
5. Net margin (“-” for losses) 6,794,028,374.00 158,119,196.00
Attributable to owners of the parent 6,475,667,220.00 140,667,962.00
Attributable to minority interests 318,361,154.00 17,451,234.00
6. Other comprehensive income, net of tax -35,115,613.00 -20,926,500.00
Other comprehensive income, net of tax attributable to owners
5,367,252.00 -41,941,842.00
of the parent
6.1 Other comprehensive income that will not be reclassified
0.00 0.00
into gains/losses
6.1.1 Changes in net liabilities or assets with a defined
0.00 0.00
benefit plan upon re-measurement
6.1.2 Share of other comprehensive income of investees
0.00 0.00
that cannot be reclassified into gains/losses under equity method
6.2 Other comprehensive income to be subsequently
5,367,252.00 -41,941,842.00
reclassified into gains/losses
6.2.1 Share of other comprehensive income of investees
0.00 -4,418,377.00
that will be reclassified into gains/losses under equity method
6.2.2 Gains/Losses on fair value changes of
19,080,453.00 -46,209,100.00
available-for-sale financial assets
6.2.3 Gains/Losses on reclassifying held-to-maturity
0.00 0.00
investments into available-for-sale financial assets
6.2.4 Effective gains/losses on cash flow hedges 0.00 0.00
6.2.5 Currency translation differences -13,713,201.00 8,685,635.00
6.2.6 Other 0.00 0.00
Other comprehensive income, net of tax attributable to minority
-40,482,865.00 21,015,342.00
interests
7. Total comprehensive income 6,758,912,761.00 137,192,696.00
Attributable to owners of the parent 6,481,034,472.00 98,726,120.00
Attributable to minority interests 277,878,289.00 38,466,576.00
8. Earnings per share
8.1 Basic earnings per share 0.185 0.004
8.2 Diluted earnings per share 0.185 0.004
Where business mergers under the same control occurred in the current period, the net margin achieved by the merged parties before
the business mergers was RMB Yuan0.00, with the amount for the same period of last year being RMB Yuan0.00.
BOE Technology Group Co., Ltd. Third Quarter Report 2017
6. Parent Company Income Statement for January-September
Unit: RMB Yuan
Item January-September 2017 January-September 2016
1. Operating revenue 1,234,889,796.00 1,044,265,990.00
Less: Operating expenses 28,474,942.00 69,706,483.00
Taxes and surtaxes 19,019,285.00 2,483,100.00
Selling expense 1,190,400.00 4,810,417.00
Administrative expense 1,077,417,888.00 916,599,105.00
Finance costs 337,091,462.00 127,196,246.00
Asset impairment losses 0.00 0.00
Add: Gains on fair value changes (“-” for losses) 0.00 0.00
Investment income (“-” for loss) 598,700,736.00 120,352,235.00
Including: Share of gains/losses of associates and joint ventures -9,369,632.00 -9,868,958.00
Other income 19,888,228.00
2. Operating margin (“-” for losses) 390,284,783.00 43,822,874.00
Add: Non-operating income 2,518,670.00 241,471,215.00
Including: Gains on disposal of non-current assets 76,085.00 83,799.00
Less: Non-operating expense 984,061.00 475,109.00
Including: Losses on disposal of non-current assets 186,191.00 96,701.00
3. Gross margin (“-” for losses) 391,819,392.00 284,818,980.00
Less: Income tax expense 7,327,135.00 23,060,794.00
4. Net margin (“-” for losses) 384,492,257.00 261,758,186.00
5. Other comprehensive income, net of tax -21,301,621.00 -13,915,859.00
5.1 Other comprehensive income that will not be reclassified into
0.00 0.00
gains and losses
5.1.1 Changes in net liabilities or assets with a defined benefit
0.00 0.00
plan upon re-measurement
5.1.2 Share of other comprehensive income of investees that
0.00 0.00
cannot be reclassified into gains/losses under equity method
5.2 Other comprehensive income to be subsequently reclassified
-21,301,621.00 -13,915,859.00
into gains/losses
5.2.1 Share of other comprehensive income of investees that will
0.00 0.00
be reclassified into gains/losses under equity method
5.2.2 Gains/Losses on fair value changes of available-for-sale
-21,301,621.00 -13,915,859.00
financial assets
5.2.3 Gains/Losses on reclassifying held-to-maturity investments
0.00 0.00
into available-for-sale financial assets
BOE Technology Group Co., Ltd. Third Quarter Report 2017
5.2.4 Effective gains/losses on cash flow hedges 0.00 0.00
5.2.5 Currency translation differences 0.00 0.00
5.2.6 Other 0.00 0.00
6. Total comprehensive income 363,190,636.00 247,842,327.00
7. Earnings per share
7.1 Basic earnings per share 0.011 0.0074
7.2 Diluted earnings per share 0.011 0.0074
7. Consolidated Cash Flow Statement for January-September
Unit: RMB Yuan
Item January-September 2017 January-September 2016
1. Cash generated by or used in operating activities:
Cash generated by sale of commodities and rendering of service 68,660,537,726.00 36,623,911,272.00
Net increase in money deposits from customers and interbank
0.00 0.00
placements
Net increase in loans from Central Bank 0.00 0.00
Net increase in funds borrowed from other financial institutions 0.00 0.00
Cash received as premiums of original insurance contracts 0.00 0.00
Net cash generated by reinsurance business 0.00 0.00
Net increase in deposits of policy holders and investment fund 0.00 0.00
Net increase in disposal of financial assets at fair value through
0.00 0.00
gains/losses
Interest, fees and commissions received 0.00 0.00
Net increase in interbank borrowings 0.00 0.00
Net increase in funds in repurchase business 0.00 0.00
Tax rebates received 6,141,348,934.00 2,825,772,770.00
Cash generated by other operating activities 1,189,087,137.00 2,438,902,512.00
Subtotal of cash generated by operating activities 75,990,973,797.00 41,888,586,554.00
Cash paid for goods and services 43,814,203,995.00 24,889,893,478.00
Net increase in loans and advances to customers 0.00 0.00
Net increase in funds deposited in Central Bank and interbank
0.00 0.00
placements
Cash paid for claims of original insurance contracts 0.00 0.00
Interest, fees and commissions paid 0.00 0.00
Cash paid as policy dividends 0.00 0.00
BOE Technology Group Co., Ltd. Third Quarter Report 2017
Cash paid to and for employees 6,008,117,704.00 4,390,130,444.00
Taxes paid 3,219,791,480.00 1,325,244,798.00
Cash used in other operating activities 4,457,853,330.00 4,735,169,296.00
Subtotal of cash used in operating activities 57,499,966,509.00 35,340,438,016.00
Net cash from operating activities 18,491,007,288.00 6,548,148,538.00
2. Cash generated by or used in investing activities:
Cash generated by disinvestments 16,678,325,660.00 27,018,296,827.00
Cash received as investment income 253,736,670.00 154,741,975.00
Net cash generated by disposal of fixed assets, intangible assets
58,162,797.00 82,066,977.00
and other long-term assets
Net cash generated by disposal of subsidiaries or other business
0.00 0.00
units
Cash generated by other investing activities 2,713,352,560.00 1,125,092,241.00
Subtotal of cash generated by investing activities 19,703,577,687.00 28,380,198,020.00
Cash paid to acquire fixed assets, intangible assets and other
35,760,451,600.00 15,462,947,784.00
long-term assets
Cash paid for investments 30,495,761,172.00 28,109,045,928.00
Net increase in pledged loans 0.00 0.00
Net cash paid to acquire subsidiaries and other business units 8,399,081.00 0.00
Cash used in other investing activities 1,150,788,952.00 2,723,123,020.00
Subtotal of cash used in investing activities 67,415,400,805.00 46,295,116,732.00
Net cash from investing activities -47,711,823,118.00 -17,914,918,712.00
3. Cash generated by or used in financing activities:
Cash received as capital contributions 11,505,150,000.00 3,008,499,427.00
Including: Cash received from minority shareholder investments
0.00 0.00
by subsidiaries
Cash received as borrowings 32,033,861,904.00 11,438,150,450.00
Cash generated by issuance of bonds 0.00 10,000,000,000.00
Cash generated by other financing activities 14,496,263.00 626.00
Subtotal of cash generated by financing activities 43,553,508,167.00 24,446,650,503.00
Repayment of borrowings 11,236,228,804.00 10,478,692,983.00
Cash paid for interest expenses and distribution of dividends or
4,307,704,845.00 2,558,512,847.00
profit
Including: dividends or profit paid by subsidiaries to minority
0.00 0.00
interests
Cash used in other financing activities 951,631,501.00 270,218,459.00
Sub-total of cash used in financing activities 16,495,565,150.00 13,307,424,289.00
BOE Technology Group Co., Ltd. Third Quarter Report 2017
Net cash from financing activities 27,057,943,017.00 11,139,226,214.00
4. Effect of foreign exchange rate changes on cash and cash
-927,057,213.00 548,698,688.00
equivalents
5. Net increase in cash and cash equivalents -3,089,930,026.00 321,154,728.00
Add: Opening balance of cash and cash equivalents 49,354,810,388.00 36,182,738,217.00
6. Closing balance of cash and cash equivalents 46,264,880,362.00 36,503,892,945.00
8. Parent Company Cash Flow Statement for January-September
Unit: RMB Yuan
Item January-September 2017 January-September 2016
1. Cash generated by or used in operating activities:
Cash generated by sale of commodities and rendering of service 879,853,858.00 672,388,542.00
Tax rebates received 13,333,576.00 3,593,327.00
Cash generated by other operating activities 614,660,499.00 1,885,963,800.00
Subtotal of cash generated by operating activities 1,507,847,933.00 2,561,945,669.00
Cash paid for goods and services 331,019,244.00 286,312,431.00
Cash paid to and for employees 539,284,451.00 340,454,300.00
Taxes paid 220,220,479.00 103,766,375.00
Cash used in other operating activities 2,862,076,874.00 2,395,936,453.00
Subtotal of cash used in operating activities 3,952,601,048.00 3,126,469,559.00
Net cash from operating activities -2,444,753,115.00 -564,523,890.00
2. Cash generated by or used in investing activities:
Cash generated by disinvestments 0.00 8,306,161,515.00
Cash received as investment income 1,605,616,700.00 60,221,193.00
Net cash generated by disposal of fixed assets, intangible assets
2,096.00 197,124.00
and other long-term assets
Net cash generated by disposal of subsidiaries or other business
0.00 0.00
units
Cash generated by other investing activities 1,114,275,822.00 13,200,214.00
Subtotal of cash generated by investing activities 2,719,894,618.00 8,379,780,046.00
Cash paid to acquire fixed assets, intangible assets and other
132,200,597.00 523,640,689.00
long-term assets
Cash paid for investments 17,159,624,980.00 21,367,541,182.00
Net cash paid to acquire subsidiaries and other business units 0.00 0.00
Cash used in other investing activities 700,921,165.00 1,703,888,929.00
Subtotal of cash used in investing activities 17,992,746,742.00 23,595,070,800.00
BOE Technology Group Co., Ltd. Third Quarter Report 2017
Net cash from investing activities -15,272,852,124.00 -15,215,290,754.00
3. Cash generated by or used in financing activities:
Cash received as capital contributions 0.00 0.00
Cash received as borrowings 15,833,000,000.00 7,040,000,000.00
Cash generated by issuance of bonds 0.00 10,000,000,000.00
Cash generated by other financing activities 3,880,581.00 626.00
Subtotal of cash generated by financing activities 15,836,880,581.00 17,040,000,626.00
Repayment of borrowings 0.00 423,155,128.00
Cash paid for interest expenses and distribution of dividends or
1,566,799,827.00 444,352,580.00
profit
Cash used in other financing activities 609,376,971.00 152,000,424.00
Sub-total of cash used in financing activities 2,176,176,798.00 1,019,508,132.00
Net cash from financing activities 13,660,703,783.00 16,020,492,494.00
4. Effect of foreign exchange rate changes on cash and cash
-7,909,075.00 10,438,293.00
equivalents
5. Net increase in cash and cash equivalents -4,064,810,531.00 251,116,143.00
Add: Opening balance of cash and cash equivalents 7,548,700,412.00 3,322,215,443.00
6. Closing balance of cash and cash equivalents 3,483,889,881.00 3,573,331,586.00
II Auditor’s Report
Are the Q3 2017 financial statements audited?
□Yes √ No
These financial statements are unaudited.
Board Chairman (signature):
Wang Dongsheng
Date of the Board’s approval of this Report: October 27, 2017
