The Report for the First Quarter of 2016 April 2016
The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd. Section I Important Statements
The Board of Directors, the Supervisory Committee, directors, supervisors and senior management staff of BOE Technology Group Co., Ltd. (hereinafter referred to as “the Company”) warrant that the contents carried in this report are without any false record, misleading statement or material omission. And they shall be severally and jointly liable for the authenticity, accuracy and completeness.
Mr. Wang Dongsheng, company principal, Mr. Chen Yanshun, company president, Ms. Sun Yun, chief of the accounting work, and Ms. Yang Xiaoping, chief of the accounting organ (chief of accounting), hereby confirm that the Financial Report enclosed in this report is factual, accurate and complete.
All directors have attended the board session for reviewing this report.
This report is prepared in both Chinese and English. Should there be any understanding discrepancy between the two versions, the Chinese version shall prevail.
The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd. Section II Financial Results and Changes in Shareholders
I Financial results
Whether the Company performed any retroactive adjustments to or restatement of its accounting data due to changes of accounting policies or correction of accounting errors
□ Yes√ No
|||||
|-|-|-|-|
|Item|January-March 2016|January-March 2015|+/-|
|Operating revenues (RMB)|12,297,738,830.00|11,582,854,379.00|6.17%|
|Net profit attributable to shareholders of the|108,325,454.00|978,140,971.00||
||||-88.93%|
|Company (RMB)||||
|Net profit attributable to shareholders of the|-1,356,749,356.00|880,748,144.00|-254.05%|
|Company after exceptional profit and loss (RMB)||||
|Net operating cash flow (RMB)|2,767,654,463.00|2,302,553,649.00|20.20%|
|Basic earnings per share (RMB/share)|0.003|0.028|-89.29%|
|Diluted earnings per share (RMB/share)|0.003|0.028|-89.29%|
|Weighted average return on equity|0.14%|1.27%|-1.13%|
|Item|31 March 2016|31 December 2015|+/-|
|Total assets (RMB)|162,807,233,819.00|152,592,894,442.00|6.69%|
|Net assets attributable to shareholders of the|77,552,636,290.00|77,485,275,564.00||
||||0.09%|
|Company (RMB)||||

Exceptional profit and loss
√ Applicable□ Not applicable
Unit: RMB
||||
|-|-|-|
|Item|January-March 2016|Note|
|Gains/losses on the disposal of non-current assets (including the|||
||-178,441.00|-|
|offset part of asset impairment provisions)|||
|Tax rebates, reductions or exemptions due to approval beyond|||
||0.00|-|
|authority or the lack of official approval documents|||
|Government grants recognized in the current period, except for|||
|those acquired in the ordinary course of business or granted at|||
||1,434,844,783.00|-|
|certain quotas or amounts according to the country’s unified|||
|standards|||
|Capital occupation charges on non-financial enterprises that|||
||0.00|-|
|recorded into current gains and losses|||
|Gains due to that the investment costs for the Company to obtain|||
||0.00|-|
|subsidiaries, associates and joint ventures are lower than the|||

The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
||||
|-|-|-|
|enjoyable fair value of the identifiable net assets of the investees|||
|when making the investments|||
|Gain/loss on non-monetary asset swap|0.00|-|
|Gain/loss on entrusting others with investments or asset|||
||0.00|-|
|management|||
|Asset impairment provisions due to acts of God such as natural|||
||0.00|-|
|disasters|||
|Gain/loss on debt restructuring|0.00|-|
|Expenses for business reorganization, such as expenses for|||
||0.00|-|
|staffing, reorganization etc.|||
|Gain/loss on the part over the fair value due to transactions with|||
||0.00|-|
|distinctly unfair prices|||
|Current gains and losses of subsidies acquired from business|||
|combination under the same control as from period-begin to|0.00|-|
|combination date|||
|Gain/loss on contingent events irrelevant to the Company’s|||
||0.00|-|
|normal business|||
|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 assets and tradable|||
||37,683,600.00|-|
|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|||
||0.00|-|
|which impairment tests were carried out separately|||
|Gain/loss on external entrustment loans|0.00|-|
|Gain/loss on change of the fair value of investing real estate of|||
|which the subsequent measurement is carried out adopting the fair|0.00|-|
|value method|||
|Effect on current gains/losses when a one-off adjustment is made|||
|to current gains/losses according to requirements of taxation,|0.00|-|
|accounting and other relevant laws and regulations|||
|Custody fee income when entrusted with operation|0.00|-|
|Non-operating incomes and expenses other than the above|0.00|-|
|Other gain/loss items that meet the definition of an extraordinary|||
||7,105,977.00|-|
|gain/loss|||
|Less: Income tax effects|9,064,919.00||
|Minority interests effects (after tax)|5,316,190.00||
|Total|1,465,074,810.00|--|

The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd. Explain the reasons if the Company classifies an item as exceptional profit/loss according to the definition in the Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to thePublic—Exceptional Profit and Loss, or classifies any exceptional profit/loss item mentioned in the said explanatory announcement as recurrent profit/loss
□ Applicable√ Not applicable
No such cases in the Reporting Period.
II Total number of shareholders at the period-end and shareholdings of top ten shareholders 1. Numbers of common shareholders and preference shareholders with resumed voting rights as well as shareholdings of top ten shareholders
Unit: share
||||||||
|-|-|-|-|-|-|-|
|Total number of commonshareholders at the period-end|||||||
||1,455,885 (including: 1,408,069 A-shareholders and 47,816 B-shareholders)||||||
|Shareholdings of top ten shareholders|||||||
|||Shareholding||Number of|Pledged or frozen shares||
||Nature of||Number of||||
|Name of shareholder||percentage||restricted shares|Status of|Number of|
||shareholder||shares held||||
|||(%)||held|shares|shares|
|Beijing State-owned CapitalManagement Center|State-ownedCorporation|11.56%|4,063,333,333|0|||
|Chongqing Capital PhotoelectricityInvestment Co., Ltd.|State-ownedCorporation|8.53%|3,000,000,000|||955,000,00|
||||||Pledged||
|||||||0|
|Hefei Jianxiang Investment Co., Ltd.|State-ownedCorporation|8.13%|2,857,142,857|0|||
|Hua An Fund – ICBC - ZhongrongInternational Trust – Zhongrong - RJNo. 1 Assembled Funds Trust Plan|Other|4.45%|1,564,126,904|0|||
|China Securities Finance CorporationLimited|Other|2.49%|876,935,991|0|||
|Beijing BOE Investment &Development Co., Ltd.|State-ownedCorporation|2.34%|822,092,180|0|||
|Beijing Economic-TechnologicalInvestment & Development Corp.|State-ownedCorporation|1.93%|677,423,641|0|||
|Hefei Raycom Projects InvestmentCo., Ltd.|State-ownedCorporation|1.92%|675,026,803|0|||
|Beijing BDA TechnologicalInvestment Development Co., Ltd.|Other|1.60%|564,000,000|0|||
|Beijing Electronics Holdings Co., Ltd.|Nation|0.78%|273,735,583|0|||
|Shareholdings of top ten non-restricted shareholders|||||||

The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
|||||
|-|-|-|-|
|||Variety of shares||
|Name of shareholder|Number of non-restricted shares held|||
|||Variety|Number|
|Hua An Fund – ICBC - Zhongrong InternationalTrust - Zhongrong - RJ No. 1 Assembled FundsTrust Plan|1,564,126,904|||
|||RMB ordinary||
||||1,564,126,904|
|||shares||
|China Securities Finance Corporation Limited|876,935,991|RMB ordinary||
||||876,935,991|
|||shares||
|Beijing BOE Investment & Development Co.,Ltd.|822,092,180|RMB ordinary||
||||822,092,180|
|||shares||
|Beijing Economic-Technological Investment &Development Corp.|677,423,641|RMB ordinary||
||||677,423,641|
|||shares||
|Hefei Raycom Projects Investment Co., Ltd.|675,026,803|RMB ordinary||
||||675,026,803|
|||shares||
|Beijing BDA Technological InvestmentDevelopment Co., Ltd.|564,000,000|RMB ordinary||
||||564,000,000|
|||shares||
|Beijing Electronics Holdings Co., Ltd.|273,735,583|RMB ordinary||
||||273,735,583|
|||shares||
|Central Huijin Investment Ltd.|248,305,300|RMB ordinary||
||||248,305,300|
|||shares||
|Chongqing Jiangbeizui CBD Investment GroupCo., Ltd.|107,095,238|RMB ordinary||
||||107,095,238|
|||shares||
|Sinotrans Air Transportation Development Co.,Ltd.|78,200,000|RMB ordinary||
||||78,200,000|
|||shares||
||1. Beijing State-owned Capital Management Center held 100% equities of Beijing|||
||Electronics Holdings Co., Ltd..|||
||2. Beijing Electronics Holdings Co., Ltd. held 66.25% shares of Beijing BOE|||
||Investment & Development Co., Ltd., which was the controlling shareholder of|||
||the latter.|||
||3. Beijing Economic-Technological Investment & Development Corp. held 49%|||
||shares of Beijing BDA Technological Investment Development Co., Ltd., the|||
|Explanation on associated relationship or|above mentioned companies were both controlled by the Beijing Economic -|||
|persons acting in concert among the|Technological Development Area Administration Committee and were the persons|||
|above-mentioned shareholders|acting in concert|||
||4. When the Company completed private offering of shares in 2014, Hefei|||
||Jianxiang Investment Co., Ltd., Chongqing Ezcapital Opto-electronics Industry|||
||Investment Co., Ltd. maintained unanimous according to the declaration of|||
||intention from Beijing BOE Investment & Development Co., Ltd. when executing|||
||the voting rights of the shareholders of the Company through the agreement of the|||
||Voting Rights Exercising Agreement|||
||5. When the Company completed private offering of shares in 2014, Beijing|||

The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
|||
|-|-|
||State-owned Capital Operation and Management Center transferred the 70%|
||shares directly held to Beijing Electronic Shareholding Co., Ltd. for managing|
||through Shares Management Protocol, and Beijing Electronic Shareholding Co.,|
||Ltd. acquired the shareholders rights except for the disposition rights and equity|
||rights attached to the equities; Beijing State-owned Capital Operation and|
||Management Center maintained its voting rights of the rest 30% equity directly|
||held by itself in accordance with Beijing Electronic Shareholding Co., Ltd.|
||through the agreement of the Voting Rights Exercising Agreement.|
||6. Except for relationship among the above shareholders, the Company is not|
||aware of whether the other top ten shareholders exist associated relationship or|
||not, or they are persons acting in concert or not.|
|Top ten common shareholders conducting||
||N/A|
|securities margin trading (if any)||

Did any of the top ten common shareholders or the top ten non-restricted common shareholders of the Company conduct 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 the top ten of them
□ Applicable√ Not applicable
The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd. Section III Significant Events
I Changes in major accounting statement items and financial indicators for the Reporting Period, as well as reasons for such changes
√ Applicable□ Not applicable
1. Financial costs increased116% from the same period of last year, mainly due to the increase in exchange loss and interest expenditure.
2. Non-operating revenue increased1125% from the same period of last year, mainly due to the increase in governmental subsidies. 3. Corporate income tax decreased94% from the same period of last year, mainly due to the decreased profit on display devices. 4. Notes receivable increased74% from the opening amount, mainly because some deals were settled using notes.
5. Accounts paid in advance decreased35% from the opening amount, mainly because the prepayments to suppliers decreased. 6. Long-term equity investments increased34% from the opening amount, mainly due to the increased investments in associates. 7. Other non-current assets increased368% from the opening amount, mainly because the prepayments for acquisition of long-term assets and the deferred import VAT increased.
8. Short-term borrowings decreased82% from the opening amount, mainly because more bank loans were repaid as the projects proceeded.
9. Notes payable increased89% from the opening amount, mainly because some deals were settled using notes.
10. Interest payable decreased77% from the opening amount, mainly because borrowing interest was paid.
11. Bonds payable increased by RMB9.952 billion from the opening amount, mainly due to the bonds issued in the Reporting Period. 12. Net investment cash outflow decreased72% from the same period of last year, mainly because the expenses on construction of new projects decreased.
13. Net financing cash outflow increased345% from the same period of last year, mainly because more bank loans were repaid as the projects proceeded.
II Progress of significant events and analysis& explanations on their influence and solutions√ Applicable□ Not applicable
||||
|-|-|-|
|||Index to the relevant|
||Date of|announcement|
|Overview of the significant event|||
||disclosure|disclosed on the|
|||website|
|China Development Fund Co., Ltd. appended investment of RMB1.6 billion on FuzhouBOE Optoelectronics Technology Co., Ltd. and the event had been reviewed and approvedby 2016 2nd Extraordinary General Meeting of the Company.|||
||13 Mar. 2016|www.cninfo.com.cn|
|In 2016, the Company executed the public offering of the corporate bonds (Phase I) to thequalified investors (called “16BOE01” for short with the code of “112358”), which was of10 billion with the final nominal interest rate of 3.15%.|||
||23 Mar. 2016|www.cninfo.com.cn|

The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd. III Commitments of the Company, its shareholders, actual controller, acquirer, directors, supervisors, senior management or other related parties fulfilled in the Reporting Period or ongoing at the period-end
√ Applicable□ Not applicable
||||||||
|-|-|-|-|-|-|-|
|||Type of||Date of commitment|Term of||
|Commitment|Commitment maker||Contents|||Fulfillment|
|||commitment||making|commitment||
|Commitments made in share reform|||||||
|Commitments made in acquisition|||||||
|documents or shareholding alteration|||||||
|documents|||||||
|Commitments made in time of asset|||||||
|restructuring|||||||
||Beijing State-owned Capital||||||
||||The shares acquired from this subscription||||
||Operation and Management Center,||||||
|||Commitment|shall not be transferred within 36 months||||
||Hefei Jianxiang Investment Co.,||||||
|||concerning|from the first trading date of these newly|8 Apr. 2014|36 months|In execution|
||Ltd., Chongqing Capital||||||
|Commitments made in time of IPO or||restricted shares|increased shares in the private placement by||||
||Photoelectricity Investment Co.,||||||
|refinancing|||the issuer.||||
||Ltd.||||||
|||Commitment|Voluntarily committed to lock up the whole||||
||Hefei Raycom Projects Investment||||||
|||concerning|held shares of the Company of 24 months|9 Jan. 2014|24 months|Fulfilled|
||Co., Ltd.||||||
|||restricted shares|since 9 January 2014.||||
|Commitments concerning stock|||||||
|ownership incentive|||||||
||||Committed not to decrease the shareholding||||
|||Commitment|during the shareholding increase execution||||
|Other commitments made to minority|Beijing Electronics Holdings Co.,||||||
|||concerning|period and within 6 months after the|31 Jul. 2015|6 months|Fulfilled|
|shareholders|Ltd.||||||
|||others|completion of the execution of 231,700||||
||||unrestricted RMB ordinary shares increased||||

The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
||||||||
|-|-|-|-|-|-|-|
||||by the directional asset plan.||||
||||Committed not to decrease the shareholding||||
||||during the shareholding increase execution||||
|||Commitment|||||
||Beijing BOE Investment||period and within 6 months after the||||
|||concerning||24 Aug, 2015|6 months|Fulfilled|
||Development Co., Ltd.||completion of the execution of||||
|||others|||||
||||6,311,100unrestricted RMB ordinary shares||||
||||increased by the directional asset plan.||||
|||Commitment|Committed not to decrease the shareholding||||
||Whole Directors, Supervisors and||||||
|||concerning|of the Company’s shares within the future 6|11 Jul. 2015|6 months|Fulfilled|
||Senior Executives||||||
|||others|months since 11 July 2015.||||
||Beijing Electronics Holdings Co.,||||||
||Ltd., Beijing BOE Investment|Commitment|Committed not to decrease the shareholding||||
||Development Co., Ltd., Hefei|concerning|of the Company’s shares within the future 6|28 Jan. 2016|6 months|In execution|
||Raycom Projects Investment Co.,|others|months since 28 Jan 2016.||||
||ltd.||||||
|||Commitment|Committed not to decrease the shareholding||||
||Beijing BDA Technological||||||
|||concerning|of the Company’s shares within the future 6|14 Feb. 2016|6 months|In execution|
||Investment Development Co., Ltd.||||||
|||others|months since 14 February 2016.||||
|Executed on time|Yes||||||
|Specific reasons for failing to fulfill|||||||
|commitments on time and plans for|N/A||||||
|next step|||||||

IV Operating result forecast for January-June 2016
Warning of possible loss or considerable YoY change of the accumulated net profit made during the period-beginning to the end of the next reporting period according to prediction, as well as explanations on the reasons:
□ Applicable√ Not applicable
The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd. V Securities investments
√ Applicable□ Not applicable
|||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|
|Variety of|Code of|Name of|Initial|Opening|Opening|Closing|Closing||Profit/loss in||Source of|
|||||||||Closing book||Accounting title||
|||||number of|shareholding|number of|shareholding||the Reporting|||
|securities|securities|securities|investment cost|||||value|||securities|
|||||shares held|percentage|shares held|percentage||Period|||
|||TPV||||||||Financial assets||
|Stock|HK00903||134,658,158.00|24,360,191|1.04%|24,360,191|1.04%|20,705,334.00|0.00||Subscribe|
|||Technology||||||||available-for-sale||
|||Electronic||||||||Financial assets||
|Stock|SH600658||90,160,428.00|9,819,493|1.69%|9,819,493|1.69%|111,942,220.00|0.00||Stock-for-stock|
|||Zone||||||||available-for-sale||
|||Bank of||||||||Financial assets||
|Stock|HK01963||120,084,375.00|25,195,000|0.93%|25,195,000|0.93%|132,089,380.00|0.00||Subscribe|
|||Chongqing||||||||available-for-sale||
|Other securities investment held at the||||||||||||
||||0.00|0|--|0|--|0.00|0.00|--|--|
|period-end||||||||||||
|Total|||344,902,961.00|59,374,684|--|59,374,684|--|264,736,934.00|0.00|--|--|
|Disclosure date of the board announcement||||||||||||
||||N/A|||||||||
|on approval of the securities investment||||||||||||
|Disclosure date of the general meeting||||||||||||
|announcement on approval of the securities|||N/A|||||||||
|investment (if any)||||||||||||

VI Investments in derivative financial instruments
□ Applicable√ Not applicable
No such cases in the Reporting Period.
The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd. VII Visits paid to the Company in the Reporting Period for purposes of research, communication, interview, etc.
√ Applicable□ Not applicable
|||||
|-|-|-|-|
|Date of visit|Way of visit|Type of visitor|Index to main inquiry information|
|2016-01-07|Teleconference|Institution|Main discussion:|
|2016-01-12|Field research|Institution|1. The operating situation, the future|
||||development strategy of the Company;|
|2016-01-15|Field research|Institution||
||||2. Industry conditions and development|
|2016-01-25|Field research|Institution||
||||trend;|
|2016-02-18|Field research|Institution||
||||3. Situation of the several production|
|2016-02-19|Teleconference|Institution|lines of the Company;|
|2016-02-24|Teleconference|Institution|Materials provided by the Company: the|
||||company brochure and other public|
|2016-03-07|Field research|Institution||
||||information.|
|2016-03-17|Teleconference|Institution||

VIII Illegal provision of guarantees for external parties
□ Applicable√ Not applicable
No such cases in the Reporting Period.
IX Occupation of theCompany’s funds by the controlling shareholder or its related parties for non-operating purposes
□ Applicable√ Not applicable
No such cases in the Reporting Period.
The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd. Section IV Financial Statements
I Financial statements
1. Consolidated balance sheet
Prepared by BOE Technology Group Co., Ltd.
Unit: RMB
||||
|-|-|-|
|Item|Closing balance|Opening balance|
|Current assets:|||
|Monetary funds|47,770,767,906.00|38,866,861,836.00|
|Settlement reserves|0.00|0.00|
|Lendings to banks and other financial|||
||0.00|0.00|
|institutions|||
|Financial assets measured at fair|||
|value with fair value changes included|||
||0.00|0.00|
|in the profit and loss for the Reporting|||
|Period|||
|Derivative financial assets|0.00|0.00|
|Notes receivable|629,524,293.00|362,053,092.00|
|Accounts receivable|7,626,082,142.00|8,192,514,361.00|
|Accounts paid in advance|146,418,990.00|226,447,504.00|
|Premiums receivable|0.00|0.00|
|Reinsurance premiums receivable|0.00|0.00|
|Receivable reinsurance contract|||
||0.00|0.00|
|reserves|||
|Interest receivable|102,873,613.00|194,518,278.00|
|Dividends receivable|0.00|0.00|
|Other accounts receivable|908,282,661.00|593,329,847.00|
|Financial assets purchased under|||
||0.00|0.00|
|agreement to resell|||
|Inventories|6,388,611,021.00|6,609,406,228.00|
|Assets held for sale|0.00|0.00|
|Non-current assets due within one|||
||0.00|0.00|
|year|||
|Other current assets|8,766,975,957.00|8,712,017,517.00|
|Total current assets|72,339,536,583.00|63,757,148,663.00|

The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
||||
|-|-|-|
|Non-current assets:|||
|Loans and advances to customers|0.00|0.00|
|Available-for-sale financial assets|413,312,323.00|454,096,246.00|
|Held-to-maturity investments|0.00|0.00|
|Long-term accounts receivable|0.00|0.00|
|Long-term equity investments|1,693,922,362.00|1,260,302,959.00|
|Investment property|1,227,516,773.00|1,227,099,427.00|
|Fixed assets|61,832,697,539.00|63,565,099,405.00|
|Construction in progress|20,384,123,931.00|18,645,461,692.00|
|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|2,633,021,936.00|2,679,239,255.00|
|R&D expense|0.00|0.00|
|Goodwill|197,963,688.00|197,963,688.00|
|Long-term deferred expenses|343,499,182.00|341,526,213.00|
|Deferred income tax assets|112,619,058.00|117,105,220.00|
|Other non-current assets|1,629,020,444.00|347,851,674.00|
|Total non-current assets|90,467,697,236.00|88,835,745,779.00|
|Total assets|162,807,233,819.00|152,592,894,442.00|
|Current liabilities:|||
|Short-term borrowings|940,198,511.00|5,091,974,830.00|
|Borrowings from the Central Bank|0.00|0.00|
|Money deposits accepted and|||
||0.00|0.00|
|inter-bank deposits|||
|Loans from banks and other financial|||
||0.00|0.00|
|institutions|||
|Financial liabilities measured at fair|||
|value with fair value changes included|||
||0.00|0.00|
|in the profit and loss for the Reporting|||
|Period|||
|Derivative financial liabilities|0.00|0.00|
|Notes payable|650,128,517.00|343,277,037.00|
|Accounts payable|9,878,595,496.00|9,849,935,031.00|
|Accounts received in advance|521,461,313.00|386,538,903.00|

The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
||||
|-|-|-|
|Financial assets sold for repurchase|0.00|0.00|
|Handling charges and commissions|||
||0.00|0.00|
|payable|||
|Payroll payable|716,821,667.00|1,092,103,138.00|
|Taxes and fares payable|191,195,124.00|224,415,009.00|
|Interest payable|80,519,121.00|348,173,849.00|
|Dividends payable|9,651,170.00|9,651,170.00|
|Other accounts payable|8,003,809,037.00|8,864,929,878.00|
|Reinsurance premiums payable|0.00|0.00|
|Insurance contract reserves|0.00|0.00|
|Payables for acting trading of|||
||0.00|0.00|
|securities|||
|Payables for acting underwriting of|||
||0.00|0.00|
|securities|||
|Liabilities held for sale|0.00|0.00|
|Non-current liabilities due within one|||
||2,188,250,073.00|2,283,535,113.00|
|year|||
|Other current liabilities|382,218,625.00|376,906,959.00|
|Total current liabilities|23,562,848,654.00|28,871,440,917.00|
|Non-current liabilities:|||
|Long-term borrowings|37,544,574,931.00|36,341,198,145.00|
|Bonds payable|9,952,486,839.00|0.00|
|Of which: Preference shares|0.00|0.00|
|Perpetual bonds|0.00|0.00|
|Long-term accounts payable|0.00|0.00|
|Long-term payroll payable|0.00|0.00|
|Special payables|0.00|0.00|
|Estimated liabilities|16,457,010.00|16,457,010.00|
|Deferred income|2,235,661,752.00|2,406,244,676.00|
|Deferred income tax liabilities|435,770,545.00|435,880,215.00|
|Other non-current liabilities|7,656,209,857.00|6,170,843,660.00|
|Total non-current liabilities|57,841,160,934.00|45,370,623,706.00|
|Total liabilities|81,404,009,588.00|74,242,064,623.00|
|Owners’ equity:|||
|Share capital|35,153,067,743.00|35,153,067,743.00|
|Other equity instruments|0.00|0.00|

The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
||||
|-|-|-|
|Of which: Preference shares|0.00|0.00|
|Perpetual bonds|0.00|0.00|
|Capital reserves|39,027,961,492.00|39,018,900,467.00|
|Less: Treasury stock|0.00|0.00|
|Other composite income|40,127,256.00|90,153,009.00|
|Special reserves|0.00|0.00|
|Surplus reserves|592,242,059.00|592,242,059.00|
|Provisions for general risks|0.00|0.00|
|Retained profit|2,739,237,740.00|2,630,912,286.00|
|Total equity attributable to owners of|||
||77,552,636,290.00|77,485,275,564.00|
|the Company|||
|Minority interests|3,850,587,941.00|865,554,255.00|
|Total owners’ equity|81,403,224,231.00|78,350,829,819.00|
|Total liabilities and owners’ equity|162,807,233,819.00|152,592,894,442.00|

 Legal representative: Wang Dongsheng Person-in-charge of the accounting work: Sun Yun Chief of the accounting division: Yang Xiaoping
2. Balance sheet of the Company
Unit: RMB
||||
|-|-|-|
|Item|Closing balance|Opening balance|
|Current Assets:|||
|Monetary funds|13,272,895,687.00|3,327,934,443.00|
|Financial assets measured at fair|||
|value with fair value changes included|||
||0.00|0.00|
|in the profit and loss for the Reporting|||
|Period|||
|Derivative financial assets|0.00|0.00|
|Notes receivable|1,050,000.00|0.00|
|Accounts receivable|68,562,764.00|59,397,930.00|
|Accounts paid in advance|10,357,585.00|6,825,464.00|
|Interest receivable|14,442,802.00|52,437,366.00|
|Dividends receivable|90,941,079.00|90,941,079.00|
|Other accounts receivable|1,391,484,368.00|1,281,026,259.00|
|Inventories|11,077,142.00|10,846,799.00|

The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
||||
|-|-|-|
|Assets held for sale|0.00|0.00|
|Non-current assets due within one|||
||0.00|0.00|
|year|||
|Other current assets|111,938,480.00|109,578,393.00|
|Total current assets|14,972,749,907.00|4,938,987,733.00|
|Non-current assets:|||
|Available-for-sale financial assets|151,335,586.00|176,683,497.00|
|Held-to-maturity investments|0.00|0.00|
|Long-term accounts receivable|0.00|0.00|
|Long-term equity investments|80,026,298,702.00|77,551,596,817.00|
|Investment property|168,428,016.00|169,723,827.00|
|Fixed assets|836,602,655.00|846,738,969.00|
|Construction in progress|215,518,237.00|160,409,258.00|
|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|615,500,660.00|638,764,378.00|
|R&D expense|0.00|0.00|
|Goodwill|0.00|0.00|
|Long-term deferred expenses|97,456,188.00|104,917,711.00|
|Deferred income tax assets|0.00|0.00|
|Other non-current assets|2,858,414,590.00|2,551,631,765.00|
|Total non-current assets|84,969,554,634.00|82,200,466,222.00|
|Total assets|99,942,304,541.00|87,139,453,955.00|
|Current liabilities:|||
|Short-term borrowings|0.00|0.00|
|Financial liabilities measured at fair|||
|value with fair value changes included|||
||0.00|0.00|
|in the profit and loss for the Reporting|||
|Period|||
|Derivative financial liabilities|0.00|0.00|
|Notes payable|0.00|0.00|
|Accounts payable|14,215,398.00|13,975,839.00|
|Accounts received in advance|533,824,782.00|3,439,149.00|

The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
||||
|-|-|-|
|Payroll payable|71,687,083.00|111,350,496.00|
|Taxes and fares payable|25,924,083.00|34,371,553.00|
|Interest payable|16,296,943.00|5,091,297.00|
|Dividends payable|6,451,170.00|6,451,170.00|
|Other accounts payable|8,301,452,962.00|7,507,464,657.00|
|Liabilities held for sale|0.00|0.00|
|Non-current liabilities due within one|||
||670,000,000.00|670,000,000.00|
|year|||
|Other current liabilities|0.00|0.00|
|Total current liabilities|9,639,852,421.00|8,352,144,161.00|
|Non-current liabilities:|||
|Long-term borrowings|5,802,240,000.00|4,140,720,000.00|
|Bonds payable|9,952,486,839.00|0.00|
|Of which: Preference shares|0.00|0.00|
|Perpetual bonds|0.00|0.00|
|Long-term payables|0.00|0.00|
|Long-term payroll payables|0.00|0.00|
|Special payables|0.00|0.00|
|Estimated liabilities|0.00|0.00|
|Deferred income|145,621,375.00|151,809,223.00|
|Deferred income tax liabilities|0.00|0.00|
|Other non-current liabilities|0.00|0.00|
|Total non-current liabilities|15,900,348,214.00|4,292,529,223.00|
|Total liabilities|25,540,200,635.00|12,644,673,384.00|
|Owners’ equity:|||
|Share capital|35,153,067,743.00|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 reserves|38,152,869,635.00|38,152,869,635.00|
|Less: Treasury stock|0.00|0.00|
|Other composite income|84,438,885.00|109,786,796.00|
|Special reserves|0.00|0.00|
|Surplus reserves|592,242,059.00|592,242,059.00|
|Retained profit|419,485,584.00|486,814,338.00|

The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
||||
|-|-|-|
|Total owners’ equity|74,402,103,906.00|74,494,780,571.00|
|Total liabilities and owners’ equity|99,942,304,541.00|87,139,453,955.00|

 3. Consolidated income statement
Unit: RMB
||||
|-|-|-|
|Item|January-March 2016|January-March 2015|
|1. Operating revenues|12,297,738,830.00|11,582,854,379.00|
|Including: Sales income|12,297,738,830.00|11,582,854,379.00|
|Interest income|0.00|0.00|
|Premium income|0.00|0.00|
|Handling charge and commission|||
||0.00|0.00|
|income|||
|2. Total operating costs|13,650,818,155.00|10,515,842,490.00|
|Including: Cost of sales|11,522,931,968.00|8,699,864,739.00|
|Interest expenses|0.00|0.00|
|Handling charge and commission|||
||0.00|0.00|
|expenses|||
|Surrenders|0.00|0.00|
|Net claims paid|0.00|0.00|
|Net amount provided as insurance|||
||0.00|0.00|
|contract reserves|||
|Expenditure on policy dividends|0.00|0.00|
|Reinsurance premium|0.00|0.00|
|Business tax and surtaxes|44,346,672.00|37,064,077.00|
|Selling expenses|311,709,165.00|292,575,878.00|
|Administrative expenses|1,197,906,250.00|1,125,646,463.00|
|Financial costs|370,574,464.00|171,609,882.00|
|Asset impairment loss|203,349,636.00|189,081,451.00|
|Add: Profit/loss on fair value changes|||
||0.00|0.00|
|(“-” means loss)|||
|Profit/loss on investment (“-” means|||
||27,303,004.00|31,384,877.00|
|loss)|||
|Including: Share of profit in|||
||-10,380,596.00|2,935,706.00|
|associates and joint ventures|||
|Foreign exchange profit (“-” means|||
||0.00|0.00|
|loss)|||
|3. Operating profit (“-” means loss)|-1,325,776,321.00|1,098,396,766.00|

The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
||||
|-|-|-|
|Add: Non-operating income|1,444,402,211.00|117,948,521.00|
|Including: Profit on disposal of|||
||703,250.00|3,369,650.00|
|non-current assets|||
|Less: Non-operating expense|2,629,891.00|8,158,910.00|
|Including: Loss on disposal of|||
||881,691.00|6,388,118.00|
|non-current assets|||
|4. Total profit (“-” means loss)|115,995,999.00|1,208,186,377.00|
|Less: Corporate income tax|13,575,834.00|230,942,461.00|
|5. Net profit (“-” means loss)|102,420,165.00|977,243,916.00|
|Net profit attributable to owners of|||
||108,325,454.00|978,140,971.00|
|the Company|||
|Minority shareholders’ income|-5,905,289.00|-897,055.00|
|6. After-tax net amount of other|||
||-50,025,753.00|54,206,935.00|
|composite income|||
|After-tax net amount of other|||
|composite income attributable to owners|-50,025,753.00|54,281,783.00|
|of the Company|||
|6.1 Other composite income that|||
|will not be reclassified into profit and|0.00|0.00|
|loss|||
|6.1.1 Changes in net liabilities|||
|or assets with a defined benefit plan upon|0.00|0.00|
|re-measurement|||
|6.1.2 Enjoyable share in other|||
|comprehensive income in investees that|||
||0.00|0.00|
|cannot be reclassified into profit and loss|||
|under the equity method|||
|6.2 Other composite income that|||
||-50,025,753.00|54,281,783.00|
|will be reclassified into profit and loss|||
|6.2.1 Enjoyable share in other|||
|composite income in investees that will|||
||0.00|0.00|
|be reclassified into profit and loss under|||
|the equity method|||
|6.2.2 Profit and loss on fair|||
|value changes of available-for-sale|-46,260,436.00|55,892,270.00|
|financial assets|||
|6.2.3 Profit and loss on|||
|reclassifying held-to-maturity|||
||0.00|0.00|
|investments into available-for-sale|||
|financial assets|||
|6.2.4 Effective hedging profit|||
||0.00|0.00|
|and loss on cash flow|||

The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
||||
|-|-|-|
|6.2.5 Foreign-currency|-3,765,317.00||
|||-1,610,487.00|
|financial statement translation difference|||
|6.2.6 Other|0.00|0.00|
|After-tax net amount of othe|r||
|composite income attributable to|0.00|-74,848.00|
|minority shareholders|||
|7. Total composite income|52,394,412.00|1,031,450,851.00|
|Attributable to owners of the|58,299,701.00||
|||1,032,422,754.00|
|Company|||
|Attributable to minority|-5,905,289.00||
|||-971,903.00|
|shareholders|||
|8. Earnings per share|||
|8.1 Basic earnings per share|0.003|0.028|
|8.2 Diluted earnings per share|0.003|0.028|

 Where business mergers under the same control occurred in this reporting period, the net profit achieved by the merged parties before the business mergers was RMB000, with the corresponding amount for the same period of last year being RMB000.
Legal representative: Wang Dongsheng Person-in-charge of the accounting work: Sun Yun Chief of the accounting division: Yang Xiaoping
4. Income statement of the Company
Unit: RMB
||||
|-|-|-|
|Item|January-March 2016|January-March 2015|
|1. Operating revenues|262,893,282.00|201,159,171.00|
|Less: Operating costs|35,480,917.00|35,344,186.00|
|Business tax and surtaxes|1,759,065.00|3,091,601.00|
|Selling expenses|3,909,692.00|842,344.00|
|Administrative expenses|276,576,389.00|221,718,364.00|
|Financial costs|8,127,014.00|-55,188,853.00|
|Asset impairment loss|0.00|0.00|
|Add: profit/loss on fair value changes(“-” means loss)|||
||0.00|0.00|
|Profit/loss on investment (“-”means loss)|||
||-10,380,596.00|5,135,706.00|
|Including: Income form|||
|investment on associates and joint|-10,380,596.00|2,935,706.00|
|ventures|||
|2. Operating profit (“-” means loss)|-73,340,391.00|487,235.00|

The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
||||
|-|-|-|
|Add: Non-operating income|6,259,917.00|4,152,071.00|
|Including: Profit on disposal of|||
||83,799.46|24,000.00|
|non-current assets|||
|Less: Non-operating expense|248,280.00|51,665.00|
|Including: Loss on disposal of|||
||8,690.44|1,555.00|
|non-current assets|||
|3. Total profit (“-” means loss)|-67,328,754.00|4,587,641.00|
|Less: Corporate income tax|0.00|0.00|
|4. Net profit (“-” means loss)|-67,328,754.00|4,587,641.00|
|5. After-tax net amount of other|||
||-25,347,911.00|46,153,487.00|
|composite income|||
|5.1 Other composite income that will|||
||0.00|0.00|
|not be reclassified into profit and loss|||
|5.1.1 Changes in net liabilities or|||
|assets with a defined benefit plan upon|0.00|0.00|
|re-measurement|||
|5.1.2 Enjoyable share in other|||
|composite income in investees that|||
||0.00|0.00|
|cannot be reclassified into profit and|||
|loss under the equity method|||
|5.2 Other composite income that will|||
||-25,347,911.00|46,153,487.00|
|be reclassified into profit and loss|||
|5.2.1 Enjoyable share in other|||
|composite income in investees that will|||
||0.00|0.00|
|be reclassified into profit and loss under|||
|the equity method|||
|5.2.2 Profit and loss on fair value|||
|changes of available-for-sale financial|-25,347,911.00|46,153,487.00|
|assets|||
|5.2.3 Profit and loss on|||
|reclassifying held-to-maturity|||
||0.00|0.00|
|investments into available-for-sale|||
|financial assets|||
|5.2.4 Effective hedging profit and|||
||0.00|0.00|
|loss on cash flow|||
|5.2.5 Foreign-currency financial|||
||0.00|0.00|
|statement translation difference|||
|5.2.6 Other|0.00|0.00|
|6. Total composite income|-92,676,665.00|50,741,128.00|
|7. Earnings per share|||
|7.1 Basic earnings per share|-0.0019|0.0001|

The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
||||
|-|-|-|
|7.2 Diluted earnings per share|-0.001|9 0.0001|

 5. Consolidated cash flow statement
Unit: RMB
||||
|-|-|-|
|Item|January-March 2016|January-March 2015|
|1. Operating cash flow:|||
|Cash received from sale of|||
||14,752,531,095.00|11,797,439,308.00|
|commodities and rendering of service|||
|Net increase in money deposits from|||
||0.00|0.00|
|customers and inter-bank placements|||
|Net increase in loans from the|||
||0.00|0.00|
|Central Bank|||
|Net increase in funds borrowed from|||
||0.00|0.00|
|other financial institutions|||
|Cash received from premium of|||
||0.00|0.00|
|original insurance contracts|||
|Net cash received from reinsurance|||
||0.00|0.00|
|business|||
|Net increase in deposits of policy|||
||0.00|0.00|
|holders and investment fund|||
|Net increase in disposal of financial|||
|assets measured at fair value with fair|||
||0.00|0.00|
|value changes included in the profit|||
|and loss for the Reporting Period|||
|Cash received from interest,|||
||0.00|0.00|
|handling charges and commissions|||
|Net increase in loans from banks and|||
||0.00|0.00|
|other financial institutions|||
|Net increase in funds in repurchase|||
||0.00|0.00|
|business|||
|Tax refunds received|918,783,988.00|809,203,320.00|
|Other operating cash received|1,835,570,896.00|317,948,130.00|
|Subtotal of operating cash inflow|17,506,885,979.00|12,924,590,758.00|
|Cash paid for goods and services|10,966,517,491.00|6,950,991,322.00|
|Net increase in loans and advances|||
||0.00|0.00|
|to customers|||
|Net increase in funds deposited in|||
|the Central Bank and inter-bank|0.00|0.00|
|placements|||
|Cash for paying claims of original|||
||0.00|0.00|
|insurance contracts|||
|Cash for paying interest, handling|0.00|0.00|

The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
||||
|-|-|-|
|charges and commissions|||
|Cash for paying policy dividends|0.00|0.00|
|Cash paid to and for employees|1,700,736,984.00|1,632,621,593.00|
|Taxes and fares paid|322,119,905.00|370,696,004.00|
|Other cash payment relating to|||
||1,749,857,136.00|1,667,728,190.00|
|operating activities|||
|Subtotal of operating cash outflow|14,739,231,516.00|10,622,037,109.00|
|Net operating cash flow|2,767,654,463.00|2,302,553,649.00|
|2. Investment cash flow:|||
|Cash received from retraction of|||
||3,375,161,515.00|1,963,618,349.00|
|investments|||
|Cash received from return on|||
||42,798,081.00|24,830,822.00|
|investments|||
|Net cash received from disposal of|||
|fixed assets, intangible assets and other|135,071.00|431,413.00|
|long-term assets|||
|Net cash received from disposal of|||
||0.00|0.00|
|subsidiaries or other business units|||
|Other cash received relating to|||
||137,655,360.00|449,475,347.00|
|investment activities|||
|Subtotal of investment cash inflow|3,555,750,027.00|2,438,355,931.00|
|Cash paid to acquire fixed assets,|||
|intangible assets and other long-term|3,388,778,286.00|5,519,405,867.00|
|assets|||
|Cash paid for investment|938,110,831.00|1,977,564,789.00|
|Net increase in pledged loans||0.00|
|Net cash paid to acquire subsidiaries|||
||0.00|4,000,000.00|
|and other business units|||
|Other cash payments relating to|||
||740,357,996.00|253,826,518.00|
|investment activities|||
|Subtotal of investment cash outflow|5,067,247,113.00|7,754,797,174.00|
|Net investment cash flow|-1,511,497,086.00|-5,316,441,243.00|
|3. Financing cash flow:|||
|Cash received from capital|||
||0.00|0.00|
|contributions|||
|Including: Cash received from|||
|minority shareholder investments by|0.00|0.00|
|subsidiaries|||
|Cash received as borrowings|2,595,534,651.00|1,566,209,834.00|
|Cash received from issuance of|0.00|0.00|

The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
||||
|-|-|-|
|bonds|||
|Other financing cash received|800,000,000.00|0.00|
|Subtotal of financing cash inflow|3,395,534,651.00|1,566,209,834.00|
|Repayment of borrowings|5,390,276,492.00|1,619,177,601.00|
|Cash paid for interest expenses and|||
||753,606,797.00|396,665,682.00|
|distribution of dividends or profit|||
|Including: dividends or profit paid|||
|by subsidiaries to minority|0.00|0.00|
|shareholders|||
|Other cash payments relating to|||
||1,116,728.00|168,363,230.00|
|financing activities|||
|Sub-total of financing cash outflow|6,145,000,017.00|2,184,206,513.00|
|Net financing cash flow|-2,749,465,366.00|-617,996,679.00|
|4. Effect of foreign exchange rate|||
||4,628,616.00|105,885,330.00|
|changes on cash and cash equivalents|||
|5. Net increase in cash and cash|||
||-1,488,679,373.00|-3,525,998,943.00|
|equivalents|||
|Add: Opening balance of cash and|||
||36,182,738,217.00|36,504,707,160.00|
|cash equivalents|||
|6. Closing balance of cash and cash|||
||34,694,058,844.00|32,978,708,217.00|
|equivalents|||

6. Cash flow statement of the Company
Unit: RMB
||||
|-|-|-|
|Item|January-March 2016|January-March 2015|
|1. Operating cash flow:|||
|Cash received from sale of|||
||573,128,227.00|50,318,798.00|
|commodities and rendering of service|||
|Tax refunds received|0.00|0.00|
|Other operating cash received|928,941,523.00|329,566,686.00|
|Subtotal of operating cash inflow|1,502,069,750.00|379,885,484.00|
|Cash paid for goods and services|69,348,311.00|49,971,986.00|
|Cash paid to and for employees|160,383,773.00|196,573,028.00|
|Taxes and fares paid|24,407,533.00|18,517,675.00|
|Other operating cash payments|261,007,195.00|116,680,420.00|
|Subtotal of operating cash outflow|515,146,812.00|381,743,109.00|
|Net operating cash flow|986,922,938.00|-1,857,625.00|
|2. Investment cash flow:|||

The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
||||
|-|-|-|
|Cash received from retraction of|||
||40,161,515.00|0.00|
|investments|||
|Cash received from return on|||
||0.00|0.00|
|investments|||
|Net cash received from disposal of|||
|fixed assets, intangible assets and other|0.00|24,000.00|
|long-term assets|||
|Net cash received from disposal of|||
||0.00|0.00|
|subsidiaries or other business units|||
|Other cash received relating to|||
||2,835,529.00|35,686,166.00|
|investment activities|||
|Subtotal of investment cash inflow|42,997,044.00|35,710,166.00|
|Cash paid to acquire fixed assets,|||
|intangible assets and other long-term|142,493,297.00|18,918,169.00|
|assets|||
|Cash paid for investment|2,554,082,482.00|6,417,564,789.00|
|Net cash paid to acquire subsidiaries|||
||0.00|0.00|
|and other business units|||
|Other investment cash payments|402,181,938.00|451,550.00|
|Subtotal of investment cash outflow|3,098,757,717.00|6,436,934,508.00|
|Net investment cash flow|-3,055,760,673.00|-6,401,224,342.00|
|3. Financing cash flow:|||
|Cash received from capital|||
||0.00|0.00|
|contributions|||
|Cash received as borrowings|1,948,000,000.00|0.00|
|Cash received from issuance of|||
||0.00|0.00|
|bonds|||
|Other financing cash received|0.00|0.00|
|Subtotal of financing cash inflow|1,948,000,000.00|0.00|
|Repayment of borrowings|0.00|0.00|
|Cash paid for interest expenses and|||
||33,878,157.00|0.00|
|distribution of dividends or profit|||
|Other cash payments relating to|||
||0.00|10,750.00|
|financing activities|||
|Sub-total of financing cash outflow|33,878,157.00|10,750.00|
|Net financing cash flow|1,914,121,843.00|-10,750.00|
|4. Effect of foreign exchange rate|||
||-6,592,861.00|151,273.00|
|changes on cash and cash equivalents|||
|5. Net increase in cash and cash|||
||-161,308,753.00|-6,402,941,444.00|
|equivalents|||

The Report for the First Quarter of 2016 of BOE Technology Group Co., Ltd.
||||
|-|-|-|
|Add: Opening balance of cash and|||
||3,322,215,443.00|8,671,876,589.00|
|cash equivalents|||
|6. Closing balance of cash and cash|||
||3,160,906,690.00|2,268,935,145.00|
|equivalents|||

IIAuditor’s report
Is this Report audited?
□ Yes√ No
This Report is not audited.
Board Chairman (signature):
Wang Dongsheng Date of theBoard’s approval: 25 April 2016