2016-04-25-深交所-京东方Ｂ_2016年第一季度报告正文（英文版）_11页_237kb

报告摘要

BOE Technology Group Co., Ltd. Q1 2016 Summary

Core Content Overview

This report provides a comprehensive summary of the financial and operational performance of BOE Technology Group Co., Ltd. for the first quarter of 2016, including financial results, shareholder data, significant events, commitments, and securities investments.

Main Financial Results

Operating Revenues: Increased by 6.17% to RMB 12,297,738,830.00 compared to RMB 11,582,854,379.00 in the same period of 2015.
Net Profit Attributable to Shareholders: Declined significantly by -88.93% to RMB 108,325,454.00 from RMB 978,140,971.00 in Q1 2015.
Net Profit After Exceptional Profit and Loss: Dropped by -254.05% to RMB -1,356,749,356.00 from RMB 880,748,144.00 in Q1 2015.
Net Operating Cash Flow: Rose by 20.20% to RMB 2,767,654,463.00 from RMB 2,302,553,649.00 in Q1 2015.
Earnings Per Share (Basic and Diluted): Both declined by -89.29% to RMB 0.003/share from RMB 0.028/share in Q1 2015.
Weighted Average Return on Equity: Decreased by -1.13% to 0.14% from 1.27% in Q1 2015.

Changes in Shareholder Structure

Total Common Shareholders: 1,455,885 at the end of the reporting period, including 1,408,069 A-shareholders and 47,816 B-shareholders.
Top Ten Shareholders:
- Beijing State-owned Capital Management Center: 11.56% shareholding, 4,063,333,333 shares.
- Chongqing Capital Photoelectricity Investment Co., Ltd.: 8.53% shareholding, 3,000,000,000 shares (pledged: 955,000,000).
- Hefei Jianxiang Investment Co., Ltd.: 8.13% shareholding, 2,857,142,857 shares.
- Hua An Fund - ICBC - Zhongrong International Trust - Zhongrong - RJ No. 1 Assembled Funds Trust Plan: 4.45% shareholding, 1,564,126,904 shares.
- China Securities Finance Corporation Limited: 2.49% shareholding, 876,935,991 shares.
- Beijing BOE Investment & Development Co., Ltd.: 2.34% shareholding, 822,092,180 shares.
- Beijing Economic-Technological Investment & Development Corp.: 1.93% shareholding, 677,423,641 shares.
- Hefei Raycom Projects Investment Co., Ltd.: 1.92% shareholding, 675,026,803 shares.
- Beijing BDA Technological Investment Development Co., Ltd.: 1.60% shareholding, 564,000,000 shares.
- Beijing Electronics Holdings Co., Ltd.: 0.78% shareholding, 273,735,583 shares.
Shareholder Relationships:
- Beijing State-owned Capital Management Center owns 100% of Beijing Electronics Holdings Co., Ltd..
- Beijing Electronics Holdings Co., Ltd. holds 66.25% of Beijing BOE Investment & Development Co., Ltd..
- Beijing Economic-Technological Investment & Development Corp. holds 49% of Beijing BDA Technological Investment Development Co., Ltd..
- These entities are controlled by the Beijing Economic-Technological Development Area Administration Committee and are considered to be acting in concert.

Key Financial Changes

Financial Costs: Increased by 116%, primarily due to exchange loss and interest expenditure.
Non-Operating Revenue: Surged by 1125%, mainly from governmental subsidies.
Corporate Income Tax: Fell by 94%, due to decreased profits from display devices.
Notes Receivable: Increased by 74%, as some deals were settled using notes.
Accounts Paid in Advance: Decreased by 35%, due to reduced prepayments to suppliers.
Long-Term Equity Investments: Rose by 34%, driven by increased investments in associates.
Other Non-Current Assets: Jumped by 368%, mainly from prepayments for long-term asset acquisitions and deferred import VAT.
Short-Term Borrowings: Declined by 82%, as more bank loans were repaid.
Notes Payable: Increased by 89%, due to deals settled using notes.
Interest Payable: Fell by 77%, as borrowing interest was paid.
Bonds Payable: Increased by RMB 9.952 billion, due to bond issuance in the reporting period.
Net Investment Cash Outflow: Decreased by 70%, due to lower expenses for new project construction.
Net Financing Cash Outflow: Rose by 345%, as more bank loans were repaid.

Significant Events

China Development Fund Co., Ltd. Investment: RMB1.6 billion investment in Fuzhou BOE Optoelectronics Technology Co., Ltd., approved by the 2016 2nd Extraordinary General Meeting on 13 Mar. 2016.
Public Offering of Corporate Bonds (Phase I): The Company issued RMB10 billion corporate bonds ("16BOE01") with a nominal interest rate of 3.15% on 23 Mar. 2016.

Commitments

Restricted Share Commitments:
- Beijing State-owned Capital Operation and Management Center, Hefei Jianxiang Investment Co., Ltd., Chongqing Capital Photoelectricity Investment Co., Ltd.: Committed to lock up shares for 36 months from the first trading date of newly issued shares, with the commitment in execution.
- Hefei Raycom Projects Investment Co., Ltd.: Voluntarily locked up 24 months of shares since 9 Jan. 2014, with the commitment fulfilled.
Shareholding Increase Commitments:
- Beijing Electronics Holdings Co., Ltd.: Committed not to decrease shareholding for 6 months after the directional asset plan was executed, fulfilled.
- Beijing BOE Investment Development Co., Ltd.: Committed not to decrease shareholding for 6 months after the directional asset plan was executed, fulfilled.
- Whole Directors, Supervisors and Senior Executives: Committed not to decrease shareholding for 6 months from 11 July 2015, fulfilled.
- Beijing Electronics Holdings Co., Ltd., Beijing BOE Investment Development Co., Ltd., Hefei Raycom Projects Investment Co., Ltd.: Committed not to decrease shareholding for 6 months from 28 Jan. 2016, in execution.
- Beijing BDA Technological Investment Development Co., Ltd.: Committed not to decrease shareholding for 6 months from 14 Feb. 2016, in execution.

Securities Investments

The Company held stocks in TPV Technology (HK00903), Electronic Zone (SH600658), and Bank of Chongqing (HK01963).
Total Investment Cost: RMB 344,902,961.00.
Total Shares Held: 59,374,684.
Total Book Value: RMB 264,736,934.00.
Profit/Loss in the Reporting Period: RMB 0.00.
Investment Type: Financial assets available-for-sale.
Sources: Subscribe and Stock-for-stock.

Other Highlights

No exceptional profit/loss items were classified as recurrent.
No illegal guarantees were provided for external parties.
No occupation of funds by the controlling shareholder or related parties for non-operating purposes.
No promissory repo activities by top ten shareholders.
No visits by institutional investors were reported as non-operational.
No derivative financial instruments were used during the reporting period.