HARBIN BOSHI AUTOMATION CO. LTD. Interim Report for the First Quarter 2024
HARBIN BOSHI AUTOMATION CO. LTD. Interim Report for
The First Quarter 2024
The Company and whole members of the Board of Directors guarantee that the information disclosed
is factual accurate and complete and there is no false record misleading statement or material
omission.Important content reminder:
1.The Board of Directors the Board of Supervisors as well as all the directors supervisors and senior
managers of HARBIN BOSHI AUTOMATION CO. LTD. ( hereinafter referred to as “the Company”)
warrant the factuality accuracy and completeness of this Report and there is no false record
misleading statement or material omission. And they will be severally and jointly liable for this Report.
2.The person in charge of the Company the person in charge of accounting work of the Company and
the person in charge of accounting department of the Company warrant that the financial information
in this Report is factual accurate and complete.
3. Whether this First Interim Report has been audited by auditing firm or not
□Yes √No
1HARBIN BOSHI AUTOMATION CO. LTD. Interim Report for the First Quarter 2024
I. Main financial data
1. Main accounting data and financial indicators
Indicate by check mark if there is any retrospectively restated accounting data of previous years.□Yes √No
Increase/Decrease over the
Jan 1 to Mar 31 2024 Jan 1 to Mar 31 2023
same period of previous year
Operating Revenue (RMB) 661556066.08 729710396.08 -9.34%
Net profit attributable to parent company’s
105613101.50210214585.50-49.76%
shareholders (RMB)
Net profit after deducting non-recurring
profit or loss attributable to shareholders of the 96268409.94 198069179.12 -51.40%
parent company (RMB)
Net cash flow from operating activities (RMB) -49813273.29 -53800397.01 7.41%
Basic earnings per share (RMB/share) 0.1038 0.2056 -49.51%
Diluted earnings per share (RMB/share) 0.1038 0.2025 -48.74%
Weighted average return on equity 2.98% 6.42% -3.44%
Increase/decrease of Mar 31
Mar 31 2024 Dec 31 2023
2024 over Dec 31 2023
Total assets (RMB) 6678790779.21 6648692787.99 0.45%
Total equity attributable to shareholders of the
3579448876.163450338131.693.74%
parent company (RMB)
2. Non-recurring gains and losses
√ Applicable □Not applicable
Unit: RMB
Item Jan 1 to Mar 31 2024 Note
Profit or loss from disposal of non-current assets (including the write-off of accrued
160.84
for impairment of assets)
Governmental subsidy reckoned into current gains or losses (excluding the subsidy
enjoyed in quota or ration according to the unified national standards which are 5200243.32
closely relevant to enterprise’s business)
Except for effectively hedging business related to normal business operations of the 5689597.01 Income from cash
2HARBIN BOSHI AUTOMATION CO. LTD. Interim Report for the First Quarter 2024
Company the profit or loss of fair value changes arising from the holding of management
financial assets and financial liabilities by non-financial enterprises and the loss or
gain arising from the disposal of financial assets and financial liabilities
Other non-operating income and expenses other than the above -59279.51
Other gain/loss items that qualified the definition of non-recurring profit
103049.27
(gains)/losses
Less: Impact on income tax 1182030.42
Impact on minority shareholders’ equity (after tax) 407048.95
Total 9344691.56 --
Other gain/loss items that qualified the definition of non-recurring profit (gains)/losses:
√Applicable□ Not applicable
Other gain/loss items that qualified the definition of non-recurring profit (gains)/losses: Income from
treasury reverse repos (cash management).Explanation on those non-recurring gain/loss listed in the “Q&A Announcement No.1 on InformationDisclosure for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss” defined as
recurring gain/loss.□ Applicable √ Not applicableThe Company does not have the non-recurring gain/loss listed in the “Q&A Announcement No.1 onInformation Disclosure for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss”
defined as recurring gain/loss.
3. Particulars about changes in items of main accounting data and financial index and explanations of
reasons.Mar 312024 Dec 312023
Consolidated Balance Sheet items Change Reasons for the changes
(RMB) (RMB)
Cash and cash equivalent 570754889.70 332216413.35 71.80% Mainly due to cash management activities.Due to the increase in the amount of bank
Financing receivable 112337215.57 72533260.37 54.88%
acceptance bills with higher credit rating.Other current assets 41300833.58 615166444.19 -93.29% Due to cash management activities.Mainly affected by the prepayment of real estate
Other non-current assets 49653721.77 23114349.36 114.82%
purchases for industrial service business.Increased in bank short-term borrowings of
Short-term loans 34086265.01 23872075.01 42.79%
holding subsidiary.
3HARBIN BOSHI AUTOMATION CO. LTD. Interim Report for the First Quarter 2024
The year-end bonus accrued at the end of the
Employee benefits payable 21340597.62 76649155.81 -72.16% 2023 which was paid this period and the balance
decreased.Mainly affected by the capital reserve formed by
Capital reserve 355508873.67 236467353.62 50.34% the IPO capital premium of the associated
company Bloom Technology.Treasury shares 100134294.12 8865506.80 1029.48% Due to Company shares buy-back.Consolidated Income Statement items from Jan 1 to Mar 312024 Jan 1 to Mar 31 2023
the beginning of the year to the end of the Change Reasons for the changes
(RMB) (RMB)
reporting period
The investment income accrued in associates and
Investment income (loss is stated with “-”) -10438879.79 14813438.64 -170.47% income from cash management activities
decreased this period.Thereof: Income from investment in The investment income accrued in associates
-11058454.758194553.90-234.95%
associates and joint ventures decreased this period.Gains from changes in fair value (loss is
5173071.32 1797823.96 187.74% Due to cash management activities.
stated with “-”)
Due to the increase of the provision for
Asset impairment losses (loss is stated with
-3500078.35 -573795.00 509.99% inventories and contract asset accrued compared
“-”)
with which of the same period of last year.Taxable income decreased and income tax
Income tax expenses 18568651.77 31903311.42 -41.80%
expenses decreased.Mainly due to the delivery and revenue
recognition of intelligent manufacturing
equipment decreased compared with last period
Net profit attributable to parent company’s
105613101.50 210214585.50 -49.76% meanwhile due to the joint influence of lower
shareholders
gross profit rate of projects revenue recognized
and higher level of base period please refer notes
for details.Consolidated Cash Flow Statement items Jan 1 to Mar 312024 Jan 1 to Mar 31 2023
from the beginning of the year to the end of Change Reasons for the changes
(RMB) (RMB)
the reporting period
Mainly due to the impact of cash management
Net cash flows from investing activities 370494696.11 -352046143.89 205.24%
activities.Net cash flows from financing activities -82525837.15 -26673490.85 -209.39% Mainly due to the Company shares buy-back.Note:
(1) Affected by delivery and acceptance progress of intelligent manufacturing equipment the revenue
recognized this period decreased year-on-year;
4HARBIN BOSHI AUTOMATION CO. LTD. Interim Report for the First Quarter 2024
(2) The products of environmental protection process and equipment were delivered and accepted
recognized revenue of RMB 160 million this period the gross profit rate of revenue components was
comparatively lower which pulled down the overall gross profit rate level.
(3) Lower level of performance of associates and joint ventures this period compared with the same period
last year and this period investment income recognized of the Company decreased by RMB 19.253 million
year-on-year;
(4) Due to relatively higher level in base period index the operating revenue and net profit attributable to
parent company’s shareholders of the first quarter of 2023 were both at extreme quarterly level;
(5) From the perspective of quarterly data the operating revenue of this period was the best in the last four
quarters as the end of the reporting period net profit attributable to parent company’s shareholders was the
best in the last three quarters as the end of the reporting period.
(6) From the perspective of the Company’s business characteristics quarterly data may be affected by the
progress of product delivery and acceptance it is better to grasp the overall Company’s operation
performance from the perspective of the whole year.Looking forward to 2024 in the direction of industrial digitalization on the basis of the existing market
demand for intelligent manufacturing equipment and industrial services superimposed the favorable factors
of the national policy of Action Plan to Promote Large-scale Equipment Renewal and Consumer Goods for
New Ones combined with the scale of orders on hand the Company has the foundation ability and
confidence to achieve the growth of business performance.
5HARBIN BOSHI AUTOMATION CO. LTD. Interim Report for the First Quarter 2024
II. Shareholders Information
1. Total number of common shareholders and preference shareholders with voting rights recovered
and top ten common shareholders
Unit: Share
Total preference shareholders with
Total number of shareholders of common
33596 voting rights recovered at end of 0
stocks at the end of the reporting period
reporting period
Top 10 shareholders(Excluding shares lent in refinancing)
Amount of Pledged marked or frozen
Name Nature Ownership Amount of shares held restricted stocks
shares held Status Amount
Unicom Kaixing Equity Investment
Management (Zhuhai Hengqin) Limited -
Lianchuang Weilai (Wuhan) Intelligent Others 14.20% 145176676 0 Not applicable 0
Manufacturing Industrial Investment
Partnership (Limited Partnership)
Deng Xijun Domestic natural person 9.41% 96181562 72136172 Not applicable 0
Zhang Yuchun Domestic natural person 8.09% 82696357 62022268 Not applicable 0
Wang Chungang Domestic natural person 5.61% 57394047 43045535 Not applicable 0
Cai Zhihong Domestic natural person 4.96% 50677029 0 Not applicable 0
Cai Hegao Domestic natural person 4.89% 50000000 0 Not applicable 0
Harbin Institute of Technology Asset Domestic state-owned
3.00% 30678500 0 Not applicable 0
Management Co. Ltd corporate
Cheng Fang Domestic natural person 1.51% 15488896 0 Not applicable 0
Tan Jianxun Domestic natural person 1.32% 13463438 0 Not applicable 0
Liu Meixia Domestic natural person 1.04% 10639500 0 Not applicable 0
Top 10 shareholders with unrestricted shares held
Type of shares
Name Amount of unrestricted shares held
Type Amount
Unicom Kaixing Equity Investment
Management (Zhuhai Hengqin) Limited -
Lianchuang Weilai (Wuhan) Intelligent 145176676 RMB ordinary shares 145176676
Manufacturing Industrial Investment
Partnership (Limited Partnership)
Cai Zhihong 50677029 RMB ordinary shares 50677029
Cai Hegao 50000000 RMB ordinary shares 50000000
Harbin Institute of Technology Asset
30678500 RMB ordinary shares 30678500
Management Co. Ltd
6HARBIN BOSHI AUTOMATION CO. LTD. Interim Report for the First Quarter 2024
Deng Xijun 24045390 RMB ordinary shares 24045390
Zhang Yuchun 20674089 RMB ordinary shares 20674089
Cheng Fang 15488896 RMB ordinary shares 15488896
Wang Chungang 14348512 RMB ordinary shares 14348512
Tan Jianxun 13463438 RMB ordinary shares 13463438
Liu Meixia 10639500 RMB ordinary shares 10639500
Shareholders holding more than 5% of the shares the top 10 shareholders and the top 10 shareholders of
unrestricted tradable shares participate in the lending of shares in the refinancing business.□Applicable √Not applicable
The top 10 shareholders and the top 10 shareholders of unrestricted tradable shares have changed compared
with the previous period due to the refinancing lending/repayment.□Applicable √Not applicable
2.The total number of preferred shareholders and the top 10 preferred shareholders’ shareholdings of
the Company
□Applicable √Not applicable
III. Other Significant Events
st
The Company held the sixth meeting of the fifth Board of Directors on November 1 2023 reviewed and
th
passed the Proposal on the Plan to Buy back Part of the Company’s Shares. As of March 15 2024 the
Company confirmed that this share buy-back plan has been completed and the Company has done 7203019
shares buy-back of the Company in total accounting for 0.70% of the total share capital with the highest
transaction price of RMB 17.88 per share and the lowest transaction price of RMB 10.58 per share. The total
transaction amount is RMB 100125282.85 (excluding transaction fees).
7HARBIN BOSHI AUTOMATION CO. LTD. Interim Report for the First Quarter 2024
IV. Quarterly Financial Statements
1. Financial statements
(1)Consolidated Balance Sheet
Prepared by HARBIN BOSHI AUTOMATION CO. LTD. Unit: RMB
Item Mar 31 2024 Jan 1 2024
Current assets:
Cash and cash equivalent 570754889.70 332216413.35
Financial assets held for trading 973444870.45 802248744.33
Derivative financial assets
Notes receivable 286382814.92 273519045.87
Accounts receivable 1031254915.93 1004337478.08
Financing receivable 112337215.57 72533260.37
Advance payment 83425946.52 77455740.98
Other receivables 26707142.76 30774548.13
Thereof: Interest receivable
Dividend receivable 2601281.28
Inventories 2354769819.83 2405309228.52
Contract assets 135723947.68 119436138.29
Assets held for sale
Non-current assets due within one year 4434818.92 4434380.89
Other current assets 41300833.58 615166444.19
Total current assets 5620537215.86 5737431423.00
Non-current assets:
Debt investments
Other debt investments
Long-term receivable 16587264.04 16425314.82
Long-term equity investment 502173567.71 404005942.77
Investment in other equity instruments 61574626.74 55443728.57
Other non-current financial assets
Investment real estate 11596766.92 11771642.38
Fixed assets 225500705.03 229647272.08
8HARBIN BOSHI AUTOMATION CO. LTD. Interim Report for the First Quarter 2024
Construction in progress 95760861.59 74985542.78
Productive biological assets
Oil and gas assets
Right-of-use assets 4744892.91 4912571.51
Intangible assets 52738717.73 53974953.86
Development expenditure
Goodwill 401878.10 401878.10
Long-term deferred expenses 319606.71 106486.62
Deferred income tax assets 37200954.10 36471682.14
Other non-current assets 49653721.77 23114349.36
Total non-current assets 1058253563.35 911261364.99
Total assets 6678790779.21 6648692787.99
Current liabilities:
Short-term loans 34086265.01 23872075.01
Financial liabilities held for trading
Derivative financial liabilities
Notes payable
Accounts payable 273602284.10 337812103.72
Advance from customers 387000.00 96750.00
Contract liabilities 1727996228.35 1763411436.97
Employee benefits payable 21340597.62 76649155.81
Taxes payable 24014047.90 20117689.42
Other payables 29788153.72 30001942.32
Thereof: Interest payable
Dividend payable 24500000.00 24500000.00
Liabilities held for sale
Non-current liabilities due within one year 2868836.76 2470313.79
Other current liabilities 163014364.80 163555006.18
Total current liabilities 2277097778.26 2417986473.22
Non-current liabilities:
Long-term loans
Bonds payable 435924995.56 431953084.05
Thereof: Preferred stock
Perpetual debt
Lease liabilities 1401863.58 1374283.98
9HARBIN BOSHI AUTOMATION CO. LTD. Interim Report for the First Quarter 2024
Long-term payables
Long-term employee benefits payable
Estimated liabilities 7352338.19 7137432.08
Deferred income 3164011.35 4023518.90
Deferred income tax liability 17916802.91 16429627.86
Other non-current liabilities 192423637.52 172145404.60
Total non-current liabilities 658183649.11 633063351.47
Total Liabilities 2935281427.37 3051049824.69
Shareholders' equity:
Share capital 1022558528.00 1022556602.00
Other equity instruments 32093926.85 32096067.08
Thereof: Preferred stock
Perpetual debt
Capital reserve 355508873.67 236467353.62
Minus: treasury shares 100134294.12 8865506.80
Other comprehensive income 27268961.24 22252223.39
Special reserve 29129376.54 28883002.75
Surplus reserve 355000124.41 355000124.41
General risk reserve
Retained earnings 1858023379.57 1761948265.24
Total equity attributable to shareholders of parent
3579448876.163450338131.69
company
Minority shareholder equity 164060475.68 147304831.61
Total shareholders' equity 3743509351.84 3597642963.30
Total liabilities and shareholders' equity 6678790779.21 6648692787.99
Legal representative: Deng Xijun Director of Finance: Sun Zhiqiang Prepared by: Wang Peihua
(2)Consolidated Income Statement
Unit: RMB
Item Current period Last period
1. Total revenue 661556066.08 729710396.08
Thereof : Operating revenue 661556066.08 729710396.08
2. Total cost 538442856.96 528536727.87
Thereof: Cost of sales 447156999.57 438999834.77
10HARBIN BOSHI AUTOMATION CO. LTD. Interim Report for the First Quarter 2024
Taxes and surcharges 4519845.54 3824169.65
Selling expenses 34362768.71 27408242.78
General and administrative expenses 24010192.48 19973449.70
Research and development expenses 28161575.45 38345817.26
Financial expenses 231475.21 -14786.29
Thereof : Interest expenses 3315708.11 2792694.99
Interest income 3488426.46 3144024.38
Add: Other income 30481463.69 39246555.78
Investment income (loss is stated with “-”) -10438879.79 14813438.64
Thereof: Investment income from associates and joint
-11058454.758194553.90
ventures
Gain from the derecognition of the financial assets measured
at amortized cost
Exchange income (Loss is listed with “-”)
Net exposure hedging gains ("-" for losses)
Gains from changes in fair value (loss is stated with “-”) 5173071.32 1797823.96
Credit impairment losses (loss is stated with “-”) -4023799.88 -5699807.43
Asset impairment losses (loss is stated with “-”) -3500078.35 -573795.00
Gains from disposal of assets (loss is stated with “-”) 160.84 -16327.02
3. Operating profit (loss is stated with “-”) 140805146.95 250741557.14
Add: Non-operating income 0.47 3.15
Less: Non-operating expenses 59279.98 374087.72
4. Total profit (loss is stated with “-”) 140745867.44 250367472.57
Less: Income tax expenses 18568651.77 31903311.42
5. Net profit (loss is stated with “-”) 122177215.67 218464161.15
(1) Classified by continuity of operations
1)Net profit from continuing operations(loss is stated with “-”) 122177215.67 218464161.15
2)Net profit from discontinued operations(loss is stated with “-”)
(2) Classified by ownership of the equity
1)Attributable to shareholders of the Parent Company 105613101.50 210214585.50
2)Minority interests 16564114.17 8249575.65
6. Other comprehensive income net of tax 5016737.85 -161251.24
Other comprehensive income attributable to shareholders of the
5016737.85-161251.24
Parent Company net of tax
(1) Other comprehensive income items which will not be
5211263.44
reclassified subsequently to profit or loss
11HARBIN BOSHI AUTOMATION CO. LTD. Interim Report for the First Quarter 2024
1) Changes arising from re-measurement of defined benefit
plan
2) Other comprehensive income that will not be transferred
subsequently to profit or loss under the equity method
3) Changes in the fair value of the investment in other
5211263.44
equity instruments
4)Changes in the fair value of the Company’s own credit
risk
5)Others
(2) Other comprehensive income items which will be reclassified
-194525.59-161251.24
subsequently to profit or loss
1) Other comprehensive income that will be transferred
-194525.59-161251.24
subsequently to profit or loss under the equity method
2)Changes in the fair value of other debt investments
3)Amount of financial assets reclassified and included in
other comprehensive income
4) Credit impairment reserves for other debt investment
5) Cash flow hedging reserve
6) Translation differences arising from translation of
foreign currency financial statements
7)Others
Other comprehensive income attributable to minority shareholders
net of tax
7. Total comprehensive income 127193953.52 218302909.91
Attributable to shareholders of the Parent Company 110629839.35 210053334.26
Minority interests 16564114.17 8249575.65
8. Earnings per share
(1) Basic earnings per share 0.1038 0.2056
(2) Diluted earnings per share 0.1038 0.2025
Legal representative: Deng Xijun Director of Finance: Sun Zhiqiang Prepared by: Wang Peihua
12HARBIN BOSHI AUTOMATION CO. LTD. Interim Report for the First Quarter 2024
(3)Consolidated Cash Flow Statement
Unit: RMB
Item Current period Last period
1. Cash flows from operating activities
Cash received from sales of goods or rendering of services 510985323.62 497741596.66
Refund of taxes and surcharges 24889930.40 37419572.33
Other cash receipts relating to operating activities 9526021.45 9530482.55
Sub-total of cash inflows from operating activities 545401275.47 544691651.54
Cash paid for goods and services 336423772.87 323324192.97
Cash paid to employees and paid on behalf of employees 180222032.08 156344892.59
Payments of taxes and surcharges 49622314.14 88271570.01
Other cash payments relating to operating activities 28946429.67 30551392.98
Sub-total of cash outflows from operating activities 595214548.76 598492048.55
Net cash flows from operating activities -49813273.29 -53800397.01
2. Cash flows from investing activities
Cash received from withdrawing investments 1017788000.00 1316610000.00
Cash received from investment income 6255768.14 6707398.11
Net cash received from disposal of fixed assets intangible assets and
2122.1147787.61
other long term assets
Net cash received from disposal of subsidiaries and other operating
units
Other cash receipts relating to investing activities 164265.00
Sub-total of cash inflows from investing activities 1024210155.25 1323365185.72
Cash paid to acquire fixed assets intangible assets and other
48632630.644644029.61
long-term assets
Cash paid to acquire investments 604740000.00 1670457000.00
Net increase of mortgaged loans
Net cash paid to acquire subsidiaries and other operating units
Other cash payments relating to investing activities 342828.50 310300.00
Sub-total of cash outflows from investing activities 653715459.14 1675411329.61
Net cash flows from investing activities 370494696.11 -352046143.89
3. Cash flows from financing activities
Cash received from capital contributions 100000.00 700000.00
Thereof: Cash received by subsidiaries from minority shareholders’
100000.00700000.00
capital contributions
13HARBIN BOSHI AUTOMATION CO. LTD. Interim Report for the First Quarter 2024
Cash received from borrowings 20220222.77 8130000.00
Other cash receipts from financing activities 200000.00 460000.00
Sub-total of cash inflows from financing activities 20520222.77 9290000.00
Cash repayments of borrowings 10000000.00 22130000.00
Distribution of dividends or profits and payments for interest
809131.65205494.50
expenses
Thereof: Cash payments for dividends or profit to minority
612500.00
shareholders by subsidiaries
Other cash payments relating to financing activities 92236928.27 13627996.35
Sub-total of cash outflows from financing activities 103046059.92 35963490.85
Net cash flows from financing activities -82525837.15 -26673490.85
4. Effect of foreign exchange rate changes on cash and cash equivalents -7797.34 82688.27
5. Net increase in cash and cash equivalents 238147788.33 -432437343.48
Add: Cash and cash equivalents at the beginning of period 330325705.08 656593226.15
6. Cash and cash equivalents at the end of period 568473493.41 224155882.67
2. Information about the implementation of new accounting standards for the first time to adjust the
relevant items in the financial statements at the beginning of the period since 2024
□Applicable √Not applicable
3. Auditor’s report
Whether this First Interim Report has been audited by auditing firm or not
□Yes √No
The First Interim Report has not been audited by auditing firm.Board of Directors of HARBIN BOSHI AUTOMATION CO. LTD.th
April 27 2024
14
