网络安全检测|网络安全服务|网络安全扫描-香港墨客投资移动版

2016 Semi-annual Report August 2016 2016 Semi-annual Report of BOE Technology Group Co., Ltd. Section I Important Statements, Contents and Terms The board of directors (the “Board”), the board of supervisors (the “Board of Supervisors”) 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 the Report, and shall be jointly and severally liable for any false representation, misleading statements or material omissions in the Report. All the directors attended the board meeting for the review of the Report. The Company plans not to distribute cash dividends or bonus shares or convert capital reserve into share capital. Mr. Wang Dongsheng, Board Chairman, Mr. Chen Yanshun, President of the Executive Committee (CEO), Ms. Sun Yun, accounting head for the Report, and Ms. Yang Xiaoping, head of the accounting organ (head of accounting), hereby guarantee that the Financial Report carried in the Report is factual, accurate and complete. The Report has been prepared as per China’s Accounting Standards for Business Enterprises and other relevant regulations. The 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. 2016 Semi-annual Report of BOE Technology Group Co., Ltd. Contents Section I Important Statements, Contents and Terms .................................................................... 2 Section II Corporate Profile .............................................................................................................. 5 Section III Highlights of Accounting Data and Financial Indicators ............................................ 7 Section IV Report by the Board of Directors ................................................................................ 10 Section V Significant Events ........................................................................................................... 35 Section VI Share Changes and Shareholders’ Profile ................................................................... 52 Section VII Preference Shares ........................................................................................................ 59 Section VIII Directors, Supervisors and Senior Management ..................................................... 60 Section IX Financial Report ............................................................................................................ 64 Section X Documents Available for Reference ............................................................................ 216 2016 Semi-annual Report of BOE Technology Group Co., Ltd. Terms Term Meaning BOE, the Company, Company BOE Technology Group Co., Ltd. Stock Listing Rules Stock Listing Rules of Shenzhen Stock Exchange (Revised in 2014) SZSE, the Stock Exchange Shenzhen Stock Exchange CSRC China Securities Regulation Commission CSRC Beijing China Securities Regulation Commission Beijing Bureau Articles of Association Articles of Association of BOE Technology Group Co., Ltd. The “Company Law” The “Company Law of the People’s Republic of China” The “Securities Law” The “Securities Law of the People’s Republic of China” The cninfo website BOEOST BOE Optical Science and Technology Co., Ltd. Chengdu BOE Chengdu BOE Optoelectronics Technology Co., Ltd. Hefei BOE Hefei BOE Optoelectronics Technology Co., Ltd. BOE Display Beijing BOE Display Technology Co., Ltd. Hefei Xinsheng Hefei Xinsheng Optoelectronics Technology Co., Ltd. Yuansheng Optoelectronics Ordos Yuansheng Optoelectronics Co., Ltd. Chongqing BOE Chongqing BOE Optoelectronics Technology Co., Ltd. OASIS Hospital OASIS International Hospital SID TheSociety for InformationDisplay Varitronix International Limited Varitronix International Limited 2016 Semi-annual Report of BOE Technology Group Co., Ltd. Section II Corporate Profile I Corporate information Stock name BOE A, BOE B Stock code 000725, 200725 Stock exchange Shenzhen Stock Exchange Company name in Chinese 京东方科技集团股份有限公司 Abbr. (if any) 京东方 Company name in English (if any) BOE TECHNOLOGY GROUP CO., LTD. Abbr. (if any) BOE Legal representative Wang Dongsheng II Contact information Item Board Secretary Securities Representative Name Liu Hongfeng Cui Zhiyong 12 Xihuan Middle Road, Beijing 12 Xihuan Middle Road, Beijing Address Economic-Technological Development Area, Economic-Technological Development Area, P.R.China P.R.China Tel. 010－64318888 ext. 010－64318888 ext. Fax 010－64366264 010－64366264 E-mail [email protected] [email protected] III Other information 1. Ways to contact the Company Did any change occur to the registered address, office address and their postal codes, website address and email address of the Company during the Reporting Period? □ Applicable √ Not applicable The registered address, office address and their postal codes, website address and email address of the Company did not change during the Reporting Period. The said information can be found in the 2015 Annual Report. 2. About information disclosure and where the Report is kept Did any change occur to information disclosure media and the place where the Report is kept during the Reporting Period? □ Applicable √ Not applicable The newspapers designated by the Company for information disclosure, the website designated by the CSRC for disclosing the 2016 Semi-annual Report of BOE Technology Group Co., Ltd. Report and the location where the Report is placed did not change during the Reporting Period. The said information can be found in the 2015 Annual Report. 3. Change of the registered information Did any change occur to the registered information during the Reporting Period? □ Applicable √ Not applicable The registration date and place of the Company, its business license No., taxation registration No. and organizational code did not change during the Reporting Period. The said information can be found in the 2015 Annual Report. 2016 Semi-annual Report of BOE Technology Group Co., Ltd. Section III Highlights of Accounting Data and Financial Indicators I Major accounting data and financial indicators Whether the Company performs any retroactive adjustments to or restatements of its accounting data of last year due to change in accounting policies or correction of accounting errors □ Yes √ No Item Reporting Period Same period of last year YoY +/- (%) Operating revenues (RMB Yuan) 26,448,310,717.00 22,970,848,112.00 15.14% Net profit attributable to shareholders of the -516,472,418.00 1,951,170,852.00 -126.47% Company (RMB Yuan) Net profit attributable to shareholders of the Company after excluding exceptional profit and -2,309,697,388.00 1,576,397,937.00 -246.52% loss (RMB Yuan) Net cash flows from operating activities (RMB 2,734,086,955.00 5,453,391,488.00 -49.86% Yuan) Basic earnings per share (RMB Yuan/share) -0.015 0.055 -127.27% Diluted earnings per share (RMB Yuan/share) -0.015 0.055 -127.27% Weighted average return on equity (%) -0.67% 2.53% -3.20% As at the end of the Reporting Item As at the end of last year YoY +/- (%) Period Total assets (RMB Yuan) 170,275,785,022.00 152,592,894,442.00 11.59% Net assets attributable to shareholders of the 76,601,140,771.00 77,485,275,564.00 -1.14% Company (RMB Yuan) II Differences between accounting data under domestic and overseas accounting standards 1. Differences of net profit and net assets disclosed in financial reports prepared under international and Chinese accounting standards □ Applicable √ Not applicable No such differences for the Reporting Period. 2. Differences of net profit and net assets disclosed in financial reports prepared under overseas and Chinese accounting standards □ Applicable √ Not applicable No such differences for the Reporting Period. 2016 Semi-annual Report of BOE Technology Group Co., Ltd. III Exceptional profit and loss √ Applicable □ Not applicable Unit: RMB Yuan Item Amount Note Profit/loss on disposal of non-current assets (including offset asset impairment provisions) 2,530,679.00 -- Tax rebates, reductions and exemptions due to approval beyond authority or the lack of official 0.00 -- approval documents Government grants charged to the profit/loss for the Reporting Period (except for the government grants closely related to the business of the Company and given at a fixed quota or 1,660,030,393.00 -- amount in accordance with the State’s uniform standards) Capital occupation charges on non-financial enterprises that are charged to the profit/loss for 0.00 -- the Reporting Period Profit due to the situation where investment costs for the Company to obtain subsidiaries, associates and joint ventures are lower than the enjoyable fair value of identifiable net assets of 105,228,293.00 -- investees when making investments Profit/loss on non-monetary asset swap 0.00 -- Profit/loss on entrusting others with investments or asset management 0.00 -- Asset impairment provisions due to acts of God such as natural disasters 0.00 -- Profit/loss on debt restructuring 0.00 -- Restructuring costs in staff arrangement, integration, etc. 0.00 -- Profit/loss on the part over the fair value due to transactions with distinctly unfair prices 0.00 -- Net Reporting Period profit/loss on subsidiaries acquired through business mergers under the 0.00 -- same control from the period-beginning to merger dates Profit/loss on contingencies irrelevant to the Company’s normal business activities 0.00 -- Profit/loss on fair value changes of transactional financial assets and liabilities & investment income from disposal of transactional financial assets and liabilities as well as financial assets 71,301,001.00 -- available for sale, except for effective hedges related to normal business operations of the Company Impairment provision reversal for accounts receivable on which the impairment test is carried 0.00 -- out separately Profit/loss on entrusted loans 0.00 -- Profit/loss on fair value changes in investing properties of which the subsequent measurement 0.00 -- is carried out adopting the fair value method Effect on Reporting Period profit/loss when a one-off adjustment is made to Reporting Period profit/loss according to requirements of taxation, accounting and other relevant laws and 0.00 -- regulations Custody fee income when entrusted with operations 0.00 -- 2016 Semi-annual Report of BOE Technology Group Co., Ltd. Non-operating income and expense other than the above 20,066,586.00 -- Other profit/loss that meet the definition of exceptional profit/loss 0.00 -- Less: Corporate income tax effects 38,222,530.00 -- Minority interests effects (after tax) 27,709,452.00 -- Total 1,793,224,970.00 -- Explanation of why the Company classified 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 the Public—Exceptional Profit and Loss, or reclassified any exceptional profit/loss item given as an example in the said explanatory announcement to recurrent profit/loss □ Applicable √ Not applicable No such cases in the Reporting Period. 2016 Semi-annual Report of BOE Technology Group Co., Ltd. Section IV Report by the Board of Directors I Overview Up to the end of the Reporting Period, our operating revenues maintained a growing trend. For the first half of 2016, we expectedly achieved operating revenues of approximately RMB26.4 billion, up 15.14% from the same period of last year. Meanwhile, our percentages of the segment markets have risen steadily, our strength in technology and product innovation have further improved, and In-Cell Touch , LTPS AMOLED and some other new technology have been productized and breakthroughs have been made in the mass production of these products. Our 2.8” LTPS 1600 PPI, 7” FHD LTPS heteromorphic display, 82” 10K curved screen, Alta Max, etc. were spoken highly of in the SID Display Week, the most influential event across the global display sector in US. In addition, we applied for over 4,000 patents in the first half of the year, a 25% increase from a year earlier. Affected by financial volatility and some non-economic factors, the first half of 2016 saw weak demand and growth in the global market. As for the domestic economy, there were no signs of stabilization but mounting downward pressure, and the RMB volatility caused a harsh environment for companies. In terms of the industry, the slowing-down growth in demand and the sharply falling prices in the five major application markets led to loss across the industry, but the markets for products with high added value, new technology and new applications still maintained a fast growth; meanwhile, the emerging new technology & materials, faster market penetration, increasingly fierce competition of patents and reforming business models were producing an oversetting effect through cross-field competition. In face of such a harsh market environment, we managed to do a good job in keeping a low stock of products, increasing our shares in the segment markets and the touch modularized percentage of our products, strengthening our capabilities of technical innovation and product development, making breakthroughs in intelligent manufacturing, pushing forward our major projects, trying to minimize the impact of currency volatility on our business performance, etc.. Details about our performance by business division are given as follows: (1) Display device division The market share kept increasing in market segments. According to IHS data, as at the end of the 2 nd quarter, the market share of LCD smart phone and TPC nabbed the top spot in the world, the market share of MNT and TV ranked up to the 2nd place in the world, and the market share of NB took the 4th place in the globe. With continuous enlargement of new market areas and new strategic clients, the enhancement of cooperation with brand clients and the whole-machine factory industry chain, as well as the expansion of client coverage, the Company has become the 1st supplier for plenty of brand clients. The capacity set a record high, the added value kept rising, the bottleneck-procedures were optimized, and the technique capability was improved, which promoted the increase of capacity and yield rate. The Beijing 8.5 Generation Line input-output touched new highs, and the capacity of the Chongqing 8.5 Generation Line was rapidly improved. The integrated completion rate of production plans of all production lines reached above 98%, which satisfied customers’ demands. The Company pushed forward the launch of projects of the touch-control modules, the high resolution ratio products, and the new applications, so as to increase the ratio of products with high added-value, and increase the contribution margin of the single baseplates. While focusing on market and customer demands, the Company kept strengthening its technology capability. 130 new product models and 42 kinds of technolog