TigerResearch/tigerbot-earning-plugin huggingface dataset:
Name| KPMG Huazhen LLP
 Office address|8/F, East Tower 2, Oriental Plaza, 1 East Chang An Avenue, Dongcheng District, Beijing
 Accountants writing signatures| Su Xing and Chai Jing
The independent sponsor hired by the Company to exercise constant supervision over the Company in the Reporting Period:Applicable □Not applicable
Name| Office address| Representatives| Supervision period
 China Securities Co., Ltd.| Room 2203, North Tower, Shanghai Securities Plaza, 528 Pudong South Road, Pudong New Area, Shanghai| Han Yong and Liao Ling|20 August 2021-31 December2022
 Hua Ying Securities Company Limited| Building F12, China IOT International Innovation Park, 200 Linghu Avenue, Xinwu District, Wuxi City| Jin Cheng and Wu Yi|20 August 2021-31 December2022
The independent financial advisor hired by the Company to exercise constant supervision over the Company in the Reporting Period:□Applicable Not applicable
VI Key Financial Information
Indicate by tick mark whether there is any retrospectively restated datum in the table below.Yes □No
Item|2022|2021||2022- over-2021 change(%)|2020|
|| Before| Restated| Restated| Before| Restated
 Operating revenue(RMB)|178,413,731,179.00|219,309,799,505.00|221,035,718,012.00|-19.28%|135,552,569,729.00|135,552,569,729.00
 Net profit attributable to the listed company’s shareholders (RMB)|7,550,877,790.00|25,830,935,500.00|25,960,751,646.00|-70.91%|5,035,627,952.00|5,035,627,952.00
 Net profit attributable to the listed company’s shareholders before exceptional gains and losses (RMB)|-2,228,652,161.00|23,937,539,752.00|24,067,355,898.00|-109.26%|2,670,454,834.00|2,670,454,834.00
 Net cash generated from/used in operating activities(RMB)|43,021,967,305.00|62,270,556,324.00|62,698,688,556.00|-31.38%|39,251,773,458.00|39,251,773,458.00
 Basic earnings per share (RMB/share)|0.19|0.71|0.71|-73.24%|0.13|0.13
Diluted earnings per share (RMB/share)|--|0.71|0.71|--|0.13|0.13
 Weighted average return on equity (%)|5.45%|23.84%|23.93%|-18.48%|5.15%|5.15%
 Item|31 December 2022|31 December 2021|| Change of31 December2022 over|31 December 2020|
||||31 December2021 (%)||
|| Before| Restated| Restated| Before| Restated
 Total assets (RMB)|420,562,103,212.00|449,726,980,355.00|450,232,603,404.00|-6.59%|424,256,806,331.00|424,297,693,499.00
 Equity attributable to the listed company’s shareholders (RMB)|136,089,410,395.00|142,925,547,899.00|143,204,240,947.00|-4.97%|103,276,766,835.00|103,312,344,036.00
Reason for accounting policy change and correction of accounting error:
The relevant data have been retrospectively restated in accordance with the Interpretation No. 15 of the Accounting Standards for Business Enterprises issued by the Ministry of Finance.
Indicate by tick mark whether the lower of the net profit attributable to the listed company’s shareholders before and after exceptional gains and losses was negative for the last three accounting years, and the latest independent auditor’s report indicated that there was uncertainty about the Company’s ability to continue as a going concern.
□Yes No
Indicate by tick mark whether the lower of the net profit attributable to the listed company’s shareholders before and after exceptional gains and losses was negative.
Item|2022|2021| Remark
 Operating revenue (RMB)|178,413,731,179.00|221,035,718,012.00| N/A
 Amount deducted from operating revenue (RMB)|0.00|0.00| N/A
 Operating revenue after deduction (RMB)|178,413,731,179.00|221,035,718,012.00| N/A
VII Accounting Data Differences under China’s Accounting Standards for Business Enterprises (CAS) and International Financial Reporting Standards (IFRS) and Foreign Accounting Standards
1. Net Profit and Equity under CAS and IFRS
□Applicable Not applicable
No difference for the Reporting Period.
2. Net Profit and Equity under CAS and Foreign Accounting Standards
VIII Key Financial Information by Quarter
Item| Q1| Q2| Q3| Q4
 Operating revenue|50,475,809,458.00|41,134,432,411.00|41,134,145,106.00|45,669,344,204.00
 Net profit attributable to the listed company’s shareholders|4,388,727,184.00|2,206,934,554.00|-1,304,557,522.00|2,259,773,574.00
 Net profit attributable to the listed company’s shareholders before exceptional gains and losses|3,511,402,963.00|728,053,130.00|-2,688,031,763.00|-3,780,076,491.00
 Net cash generated from/used in operating activities|14,755,368,710.00|13,356,631,955.00|2,918,435,636.00|11,991,531,004.00
Indicate by tick mark whether any of the quarterly financial data in the table above or their summations differs materially from what have been disclosed in the Company’s quarterly or interim reports.
IX Exceptional Gains and Losses
Applicable □Not applicable
Item|2022|2021|2020| Note
 Gain or loss on disposal of non-current assets (inclusive of impairment allowance write-offs)|5,445,499,094.00|174,174,600.00|373,432,171.00| N/A
 Tax rebates, reductions and exemptions given with ultra vires approval or in lack of official approval documents|0.00|0.00|0.00| N/A
 Government subsidies charged to current profit or loss(exclusive of government subsidies consistently given in the Company’s ordinary course of business at fixed quotas or amounts as per governmental policies or standards)|5,458,665,272.00|2,077,537,306.00|2,332,107,692.00| N/A
 Capital occupation charges on non-financial enterprises that are charged to current profit or loss|0.00|0.00|0.00| N/A
 Gain equal to the amount by which investment costs for the Company to obtain subsidiaries, associates and joint ventures are lower than the Company’s enjoyable fair value of identifiable net assets of investees when making investments|0.00|0.00|0.00| N/A
 Gain or loss on non-monetary asset swaps|0.00|0.00|0.00| N/A
Gain or loss on assets entrusted to other entities for investment or management|0.00|0.00|0.00| N/A
 Allowance for asset impairments due to acts of God such as natural disasters|0.00|0.00|0.00| N/A
 Gain or loss on debt restructuring|0.00|0.00|0.00| N/A
 Restructuring costs in staff arrangement, integration, etc.|0.00|0.00|0.00| N/A
 Gain or loss on the over-fair value amount as a result of transactions with distinctly unfair prices|0.00|0.00|0.00| N/A
 Current profit or loss on subsidiaries obtained in business combinations involving enterprises under common control from the period-beginning to combination dates, net|0.00|0.00|0.00| N/A
 Gain or loss on contingencies that do not arise in the Company’s ordinary course of business|0.00|0.00|0.00| N/A
Gain or loss on fair-value changes in held-for-trading financial assets and liabilities & income from disposal of held-for-trading financial assets and liabilities and available-for-sale financial assets (exclusive of the effective portion of hedges that arise in the Company’s ordinary course of business)|275,498,559.00|121,656,142.00|82,698,484.00| N/A
 Reversed portions of impairment allowances for receivables which are tested individually for impairment|18,395,999.00|20,304,301.00|15,447,820.00| N/A
 Gain or loss on loan entrustments|0.00|0.00|0.00| N/A
 Gain or loss on fair-value changes in investment property of which subsequent measurement is carried out using the fair value method|0.00|0.00|0.00| N/A
 Effects of all adjustments required by taxation, accounting and other applicable laws and regulations on current profit or loss|0.00|0.00|0.00| N/A
 Income from charges on entrusted management|0.00|0.00|0.00| N/A
 Non-operating income and expense other than the above|90,115,764.00|90,587,512.00|65,391,368.00| N/A
Other gains and losses that meet the definition of exceptional gain/loss|0.00|0.00|0.00| N/A
 Less: Income tax effects|133,580,776.00|191,362,477.00|185,966,533.00| N/A
 Non-controlling interests effects (net of tax)|1,375,063,961.00|399,501,636.00|317,937,884.00| N/A
 Total|9,779,529,951.00|1,893,395,748.00|2,365,173,118.00|--
Particulars about other gains and losses that meet the definition of exceptional gain/loss:□Applicable Not applicable
No such cases for the Reporting Period.
Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item listed in the Explanatory Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Gain/Loss Items:
Part III Management Discussion and Analysis
I Industry Overview for the Reporting Period
In the macro environment of frequent geopolitical risks and global economic downturn, inflation remained at high levels, consumer confidence and capacity continued to be low, fixed expenditure inhibited consumption upgrade, and purchasing strategies on the brand end became conservative. As a result, the semiconductor display industry saw an imbalance between supply and demand, and the industry development was under significant pressure throughout the year. The prices of mainstream semiconductor display application products declined throughout the year, and panel procurement on the brand end adopted a conservative posture. Although the overall utilisation ratio of panel factories remained relatively low, they still faced great shipment pressure. The growth engine of the consumer electronics industry shifted from traditional applications such as mobile phones, laptops, and TVs to new segmented application fields such as VR/AR and smart watches, and semiconductor display technology also gradually transformed into a development pattern with LCD as the focus and OLED and Narrow Pixel Pitch LED displays as highlights.
Currently, China attaches great importance to developing the real economy, continues to promote the high-end, smart, and green development of the manufacturing industry, and accelerates the construction of China’s strength in manufacturing, product quality and digital development. IoT is one of the important infrastructures in the digital economy era. Sensors, artificial intelligence, edge computing, big data, and other technology applications are accelerating iterative development, speeding up the construction of the ecology of the Internet of Everything (IoE) and promoting the rapid development of demand-side scenarios. Supported by increasingly mature technology and growing demand for intelligence, smart screens, industrial sensors, and automotive electronics have gained first-mover advantage and the product market scale continues to expand. As the technology gradually matures and the potential for integration applications is unleashed, a variety of IoT technologies will be integrated into industry, transportation, finance, architecture, energy, and other industries and boost the rapid development of the industrial IoT, Intelligent Car Networking, smart finance, smart industrial parks, smart energy and other IoT application industries.
At the 20th National Congress of the Communist Party of China, it was mentioned that we should promote the construction of a healthy China, prioritise the protection of people's health in strategic development, and improve the policies of promoting people's health. Several policies jointly encourage the research, development, and application of innovative medical devices and biomedicine, actively promote the domestic substitution of medical devices and equipment, and accelerate the construction of a health service system featuring the integration of prevention and treatment, the integration of medicine and health care, and intelligence, providing broad development prospects for innovative medical engineering products and integrated health care services for prevention and treatment.
II Principal Activity of the Company in the Reporting Period
BOE Technology Group Co., Ltd. is a leading IoT company providing intelligent interface products and professional services for information interaction and human health. Based on a deep understanding of the intrinsic laws of the market and practical exploration, and in order to further enhance its value creation capability, BOE has put forward the development strategy of "Screen-Connected IoT" based on its core genes and capabilities, seizing the ubiquitous growth opportunities of "screen", and fully leveraging its core advantage of "screen" to integrate screens into more market segments and application scenarios by integrating more functions and deriving more forms. By doing so, BOE will realize the user perception revolution of "screen as terminal" in the digital era, build an industrial ecology of "screen as platform and screen as system", and reshape the value growth model. At the same time, based on the strategic design of"Screen-Connected IoT", BOE will bring a new connotation to the "1+4+N+Ecosystem" development structure under the new development pattern.
"1" represents semiconductor display, which is the core capacity and quality resources accumulated by BOE, as well as the source and origin of the Company's transformation and development.
"4" is a high-potential channel and direction of development selected based on BOE's core competence and value chain extension, as well as the four main fronts of the Company's IoT transformation, namely the IoT Innovation business, the Sensor business, the MLED business and the Smart Medical Engineering business.
"N" refers to the subdivided application scenarios of IoT that are continuously explored and cultivated by BOE, as well as the specific focus of the Company's IoT transformation development.
“Ecosystem”is an industrial ecological development circle constructed by the Company in collaboration with many partners and by aggregating the resources of the industrial chain and ecosystem chain.
The Company's core businesses are summarized as follows:
1. The Display Devices business
The Display Devices business offers integrated design and manufacturing services for devices, and is committed to providing interface devices applying TFT-LCD, AMOLED, Microdisplay and other technologies, focusing on providing customers with high-quality display devices for smartphones, tablet PCs, laptops, monitors, TVs, vehicle-mounted, electronic shelf label (ESL), industrial control, household medical applications, applications on wearable devices, whiteboards, tiled display screens, commercial devices, VR/AR devices, etc.
2. The IoT Innovation business
The IoT Innovation business offers integrated design and manufacturing services for system solutions, and provides customers with competitive smart terminal products for TVs, monitors, laptops, tablets, low-power devices, IoT, 3D display, etc. Backed by AI and big data technologies, it focuses on products and services combining hardware and software, providing integrated IoT solutions for segments including smart industrial parks, smart finance, visual arts, smart public service, smart transportation, etc.
3. The Sensor business
The Sensor and Solution business offers integrated design and manufacturing services for system solutions, focuses on medical biological segment, smart transportation and construction displays, consumer electronics, industrial sensors and other fields, and provides customers with design and manufacturing of sensor devices and system solution services, with specific products and solutions including back plates for flat panel X-ray detectors (FPXD), digital microfluidic chips, intelligent PDLC glass and PDLC system solutions, fingerprint identification sensors and systems, as well as industrial sensors and solutions, among others.
4. The MLED business
MLED business renders Mini-LED backlight products with high reliability and high partition of dimming for LCD of tablet PCs, laptops, monitors, TVs, vehicles, wearable devices, etc., as well as Mini/Micro-LED display product solutions with high brightness, high reliability and high contrast for segment markets of outdoor, commercial, transparent, specialized and other displays. All these products are designed and manufactured in an integrated manner.
5. The Smart Medical Engineering business
The Smart Medical Engineering business adopts the professional service model to combine technologies with medicine and integrate medicine and engineering with innovation, so as to provide people-oriented services for families, communities and hospitals. It connects testing equipment, healthcare workers and customers through the health IoT platform to build a smart health management ecosystem where customers enjoy health services including prevention, treatment, therapy and nursing.
Meanwhile, with a specific focus on "N", the Company provides hardware and software integrated system solutions for different industries, including industrial IoT, smart energy, digital art, and other fields, which can provide customers with all-dimensional, one- stop and smart new experience under IoT scenarios.
III Core Competitiveness Analysis
1. Excellent management team
Since the Company implemented the strategy of "conducting overseas acquisitions and taking root in domestic markets" and entered the semiconductor display industry at a high starting point, it has developed into a leading enterprise in the global semiconductor display industry after years of robust growth. The Company's management team has solid professional knowledge, rich industry experience, leading management level and keen strategic vision. Thanks to their efforts, the Company continued to grow stronger in the semiconductor display field, and grasped future development opportunities to firmly promote the Company's IoT transformation, and rendered a lot of achievements. In the context of the complex global political and economic situation, and the weak consumer electronic demand, among others, the Company's management overcame many difficulties, led the team to turn the downturn into growth opportunities, actively seized market opportunities, and strengthened its core capabilities. As a result, the Company led the way in operating quality industry-wide in the year.
2. Stable market position and capability of innovation and market expansion
The Company's semiconductor display products ranked first in the world in terms of the shipment volume and shipment area throughout the year. Among them, the five mainstream applications of LCDs, namely, smartphones, tablet PCs, laptops, monitors, and TVs, continued to rank first globally, and the market share of flexible OLEDs for smartphones was nearly 20%.
The innovation business continued to grow rapidly, making significant progress in technology and product enhancement, market promotion and expansion, revenue growth and value creation, etc. In 2022, the revenue of system solutions grew by over 41% year- on-year; the sensor business grew by over 41% year-on-year; the MLED business grew by over 85% year-on-year; and the smart medical engineering business revenue grew by nearly 20% year-on-year.
3. Well-established technology R&D system and technology leadership
With the short-, medium-, and long-term technology R&D system, the Company actively laid out forward-looking technology directions while accelerating the productisation of technology to ensure that the Company's technological strength continued to lead. In terms of patent achievements, as of the end of 2022, the Company's cumulative independent patent applications exceeded 80,000.
Among the new patent applications filed in the year, over 90% were invention patents and over 33% were overseas patents, with patent applications in the fields of flexible OLEDs, sensors, artificial intelligence and big data accounting for over 50%, covering many countries and regions such as the U.S., Europe, Japan and Korea.
The Company held a total of over 40,000 validly granted patents worldwide and was ranked among the Top 20 Organizations Granted US Patent in the world for five consecutive years (ranked 11th in 2022). Regarding industry standards, the Chinese electronics industry standard the Optical Performance Test Methods for Vehicle Head-up Displays, which the Company took the lead in formulating,
was approved and released by the Ministry of Industry and Information Technology, becoming the first authoritative test standard for the HUD (Head-Up Display) industry in China. The MNT"S+ Standard" was awarded the third-party certification by the China Optics and Optoelectronics Industry Association.
The Industrial Design Centre won 13 design awards including two Red Dot Awards, and was qualified as a leading design institution in Beijing and a design innovation centre in Beijing. As for awards and honours, BOE's National Engineering Research Centre for New-type Displays won the honour of only National Engineering Research Centre for New-type Displays in the display industry under the supervision of the National Development and Reform
Commission. Also, the project of R&D and industrialisation of high refresh rate display technology based on super-dimensional field technology won the First Prize of Beijing Science and Technology Progress in 2021. In terms of product and technology development, the Company was the world's first the launch a number of LCD technologies, leading the direction of technology upgrade.
For example, TV products adopt ADS PRO technology, which achieve image quality comparable to OLED through material improvement and process design optimisation and are successfully introduced to top customers, setting off a new wave of LCD image quality revolution. The 86 inch COG AM Mini LED backlight unit won the SID DIA Award - 2022 Display Component of the Year,
and COG P0.9 and COB P0.9-1.5 full series products achieved mass production for several brand customers. The first launch rate of sensor device products increased rapidly, FPXD products were introduced to top customers in Europe and the U.S., and front-mounted passenger vehicle products of dimming windows were successfully introduced.
The Company won the honour of MIT Technology Review's "50 Smartest Companies in the World" for its self-developed light and shadow devices. The "Human Umbilical Cord Mesenchymal Stem Cell Membrane", the self-developed Class-1 new drug of regenerative medicine entered Phase I clinical trials, which was the world's first mesenchymal stem cell membrane product to be approved for clinical trials.
4. Efficient management system and lean management capability
The Company has established an operational management mechanism of "three offices and three managements" through a platform- based organisational design. An agile front office, an intensive middle office, and an efficient back office were built, and an organisational operating mechanism with strategic management, procedure management, and performance management extending vertically in place was constructed and continuously optimised and upgraded. The Company firmly promoted digital transformation, achieved the in-depth integration between online and offline, and continued to deepen the digital management system of "Agile Response, Efficient Collaboration, and Full-range Access" to improve the Company's management quality and operational efficiency. BOE continuously optimised its operation mechanism, promoted the centralisation and scale of products, continued to strengthen platform linkages and connections and maximised its advantages of intensification, continuously enhancing the efficiency of production lines. The 8.5th generation of TFT-LCD production line in Fuzhou became the first enterprise in the Chinese Mainland to be awarded as the "lighthouse factory" in the industry; the 8.5th generation of TFT-LCD production line won a national award for benchmarking enterprises of smart manufacturing; the Generation 8.5 TFT-LCD production line in Chongqing became the first semiconductor display panel manufacturer in the Chinese mainland to join SBTi.
IV Core Business Analysis