2023-10-30-深交所-京东方Ｂ_2023年第三季度报告（英文）_14页_499kb

BOE Technology Group Co., Ltd. Third Quarterly Report 2023 Summary

I. Financial Highlights

• Revenue: Q3 2023 revenue was 46,337 billion RMB, a decrease of 8.89% year-over-year, while Q1-Q3 revenue fell 4.69% to 126,515 billion RMB.
• Net Profit Attributable to Shareholders: Q3 2023 net profit attributable to shareholders was -1.02 billion RMB (a loss), compared with -1.3 billion RMB (loss) in Q3 2022, but Q1-Q3 total decreased by 80.68% year-over-year to -1.02 billion RMB (loss).
• Key Indicators: Basic earnings per share (EPS) in Q3 2023 was 0.01 RMB/share, down by 84.62% compared to 0.02 RMB/share in Q1-Q3 2022. Weighted average return on equity (ROE) declined to 0.21% in Q3.

II. Financial Performance Details

• Q3 2023 vs Q3 2022:
  • Revenue: Down 8.89% (46,337 bn RMB vs 51,316 bn RMB).
  • Net profit attributable to shareholders: Loss widened to -1.02 billion RMB after a loss of -1.3 billion RMB in 2022.
  • Operating revenue: Decreased 8.89% YoY.
  • Cash flow from operations: Down 25.69% YoY to 23,059 billion RMB.

III. Other Significant Events

• Share Repurchase: Company repurchased 28,186,133 shares via centralized bidding, which were subsequently cancelled.
• Stock-Based Incentive Program: The 2020 stock incentive program remains in place, with adjustments made to exercise prices and repurchase prices.
• Director Appointment: Wu Lishun was appointed as a non-independent director on the 10th Board of Directors.
• Investment Projects: Vietnam manufacturing project and cooperation on a life science park were announced, indicating plans for overseas expansion.

IV. Key Financial Statement Notes

• Q1-Q3 2023: Revenue declined 8.46% YoY, total operating costs increased, reflecting pressure on profitability. Net profit is negative due to increased operating costs and investment-related losses.
• Cash Flow: Cash used in operations remained strong but declined compared to prior year. Investment and financing cash flows saw mixed trends.

V. Future Considerations

• The company continues to be impacted by macroeconomic uncertainties and reduced government subsidies, affecting its short-term profits.
• Strategic investments in manufacturing capacities and collaborations suggest long-term growth focus within the display and semiconductor fields.

Date Prepared: October 2023