THIRD QUARTERLY REPORT 2023

October 2023BOE Technology Group Co. Ltd. Third Quarterly Report 2023

Stock Code: 000725 Stock Name: BOE-A Announcement No. 2023-053

Stock Code: 200725 Stock Name: BOE-B Announcement No. 2023-053

BOE TECHNOLOGY GROUP CO. LTD.THIRD QUARTERLY REPORT 2023

BOE Technology Group Co. Ltd. (hereinafter referred to as the “Company”) and all the

members of the Company’s Board of Directors hereby guarantee that the contents of this

Report are true accurate and complete and free of any misrepresentations misleading

statements or material omissions.Important Notes:

The Board of Directors (or the “Board”) the Supervisory Committee as well as the directors supervisors and senior

management of BOE Technology Group Co. Ltd. (hereinafter referred to as the “Company”) hereby guarantee the

factuality accuracy and completeness of the contents of this Report and shall be jointly and severally liable for any

misrepresentations misleading statements or material omissions therein.All the Company’s directors have attended the Board meeting for the review of this Report.Mr. Chen Yanshun the Company’s legal representative Mr. Gao Wenbao President of the Company Ms. Yang

Xiaoping the Company’s Chief Financial Officer and Mr. Teng Jiao head of the Company’s financial department

(equivalent to financial manager) hereby guarantee that the Financial Statements carried in this Report are factual

accurate and complete.This 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.The financial statements in this Report have not been audited by an independent auditor.

2BOE Technology Group Co. Ltd. Third Quarterly Report 2023

I Key Financial Information

(I) Key Accounting Data and Financial Indicators

Indicate by tick mark whether there is any retrospectively restated datum in the table below.□Yes □ No

Reason for any retrospectively adjustment or restatement

Change of accounting policy

YoY

YoY change

Q3 2022 change Q1-Q3 2022

Item Q3 2023 Q1-Q3 2023 (%)

(%)

Before Restated Restated Before Restated Restated

Operating revenue (RMB) 46337198045.00 41134145106.00 41134145106.00 12.65% 126515073265.00 132744386975.00 132744386975.00 -4.69%

Net profit attributable to the listed

286347794.00-1304557522.00-1304557522.00-1022157403.005291104216.005291104216.00-80.68%

company’s shareholders (RMB)

Net profit attributable to the listed

company’s shareholders before 92352417.00 -2688031763.00 -2688031763.00 - -1492087874.00 1551424330.00 1551424330.00 -196.18%

exceptional items (RMB)

Net cash generated from/used in

————23059279755.0031030436301.0031030436301.00-25.69%

operating activities (RMB)

Basic earnings per share (RMB/share) 0.01 -0.04 -0.04 - 0.02 0.13 0.13 -84.62%

Diluted earnings per share (RMB/share) 0.01 -0.04 -0.04 - 0.02 0.13 0.13 -84.62%

Weighted average return on equity (%) 0.21% -1.15% -1.15% 1.36% 0.71% 3.75% 3.75% -3.04%

31 December 2022 YoY change (%)

Item 30 September 2023

Before Restated Restated

Total assets (RMB) 415655512105.00 420562103212.00 420567865936.00 -1.17%

Equity attributable to the listed

130627379794.00136089410395.00136079680294.00-4.01%

company’s shareholders (RMB)

Reason for accounting policy change and correction of accounting error:

As required by Interpretation No. 16 for the Accounting Standards for Business Enterprises issued by the Ministry of Finance the Group has retrospectively restated relevant financial statement

items at the beginning of the year and in the same period of last year. The said changes of accounting policies have no significant impact on the Company’s financial condition and operating

results.

3BOE Technology Group Co. Ltd. Third Quarterly Report 2023

(II) Exceptional Gains and Losses

□ Applicable □ Not applicable

Unit: RMB

Item Q3 2023 Q1-Q3 2023 Note

Gain or loss on disposal of non-current assets (inclusive

1089322.00 -7774027.00 N/A

of impairment allowance write-offs)

Tax rebates reductions and exemptions with ultra vires

0.00 0.00 N/A

approval or in lack of duly approved document

Government grants through profit or loss (exclusive of

government grants continuously given in the Company’s

281226899.00 3001932095.00 N/A

ordinary course of business at fixed quotas or amounts

as per the government’s policies and standards)

Capital occupation charges on non-financial enterprises

0.00 0.00 N/A

that are charged to current gains and losses

Income 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 0.00 0.00 N/A

fair value of identifiable net assets of investees when

making investments

Gains and losses on non-monetary asset swap 0.00 0.00 N/A

Gains and losses on investment or asset management

0.00 0.00 N/A

entrustments to other entities

Allowance for asset impairments due to acts of God such

0.00 0.00 N/A

as natural disasters

Gains and losses on debt restructuring 0.00 0.00 N/A

Restructuring costs in staff arrangement integration etc. 0.00 0.00 N/A

Gains and losses on over-fair value amount as a result of

0.00 0.00 N/A

transactions with distinctly unfair prices

Current gains and losses on subsidiaries acquired

through business mergers under same control from 0.00 0.00 N/A

period-beginning to merger dates net

Gains and losses on contingencies that do not arise in the

0.00 0.00 N/A

Company’s ordinary course of business

Gain or loss on fair-value changes in held-for-trading

financial assets and liabilities & investment income from

disposal of held-for-trading financial assets and

-29795651.00 181479776.00 N/A

liabilities and available-for-sale financial assets

(exclusive of effective portion of hedges that arise in the

Company’s ordinary course of business)

Reversed portion of impairment allowance for accounts

9654149.00 24107802.00 N/A

receivable which are tested individually for impairment

Gains and losses on loan entrustment 0.00 0.00 N/A

Gains and losses on fair value changes in investment

property of which subsequent measurement is carried 0.00 0.00 N/A

out using fair value method

Effects of all adjustments required by taxation

accounting and other applicable laws and regulations on 0.00 0.00 N/A

current gains and losses

Income from charges on entrusted management 0.00 0.00 N/A

Non-operating income and expense other than above 55739294.00 241294974.00 N/A

Other gains and losses that meet definition of

0.00 0.00 N/A

nonrecurring gain/loss

Less: Income tax effects 31020290.00 145212249.00 N/A

Non-controlling interests effects (net of tax) 92898346.00 781583094.00 N/A

Total 193995377.00 2514245277.00 --

Other items that meet the definition of exceptional gain/loss:

□Applicable □ Not applicable

No such cases in the Reporting Period.

4BOE Technology Group Co. Ltd. Third Quarterly Report 2023

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:

□Applicable □ Not applicable

No such cases in the Reporting Period.(III) Changes in Key Financial Statement Line Items and Explanation of why

□ Applicable □ Not applicable

Changes in key line items of the income statement and explanation of why:

1. Other income declined 35% during Q1-Q3 2023 compared to Q1-Q3 2022 primarily driven by the decreased government grants

during the Reporting Period.

2. Asset impairment loss declined 74% during Q1-Q3 2023 compared to Q1-Q3 2022 primarily driven by the decreased inventory

valuation allowances established according to the lower between the costs and net realizable value.Changes in key line items of the balance sheet and explanation of why:

1. Construction in progress as at 30 September 2023 declined 38% compared to 1 January 2023 primarily driven by new construction

projects transferred to fixed assets during the Reporting Period.Changes in key line items of the cash flow statement and explanation of why:

1. Net cash generated from operating activities declined 25.69% during Q1-Q3 2023 compared to Q1-Q3 2022 primarily driven by the

decreased tax and levy rebates during the Reporting Period.

2. Net cash generated from investing activities rose 87.08% during Q1-Q3 2023 compared to Q1-Q3 2022 primarily driven by the

increased net cash inflows from wealth management and investment as well as the decreased payments for the construction and

acquisition of fixed assets intangible assets and other long-lived assets during the Reporting Period.

3. Net cash generated from financing activities declined 112.77% during Q1-Q3 2023 compared to Q1-Q3 2022 primarily driven by

the repayment of perpetual bonds and the repurchase of shares during the Reporting Period.II Shareholder Information

(I) Numbers of Ordinary Shareholders and Preference Shareholders with Resumed Voting Rights as well as

Holdings of Top 10 Shareholders

Unit: share

Number of ordinary shareholders 1289137 (including 1257147 A-shareholders and 31990 B-shareholders)

Top 10 shareholders

Shares in pledge

Nature of Shareholding Total shares Restricted

Name of shareholder marked or frozen

shareholder percentage held shares

Status Shares

Beijing State-owned Capital

State-owned legal

Operation and Management Company 10.65% 4063333333 0 N/A 0

person

Limited

Hong Kong Securities Clearing Foreign legal

6.05% 2308518791 0 N/A 0

Company Ltd. person

Beijing BOE Investment & State-owned legal

2.15% 822092180 0 N/A 0

Development Co. Ltd. person

Beijing Jing Guorui Soe Reform and

Other 1.88% 718132854 0 N/A 0

Development Fund (L.P.)

State-owned legal

Hefei Jianxiang Investment Co. Ltd. 1.75% 666195772 0 N/A 0

person

5BOE Technology Group Co. Ltd. Third Quarterly Report 2023

Domestic non-

Fuqing Huirong Venture Capital

state-owned legal 1.41% 538599640 0 N/A 0

Group Co. Ltd.person

Perseverance Asset Management- Domestic non-

Perseverance Xiaofeng No.2 Zhixin state-owned legal 0.92% 349999919 0 N/A 0

Fund person

FOTIC-Foreign Trade Trust- Domestic non-

Perseverance Xiaofeng Hongyuan state-owned legal 0.86% 329988907 0 N/A 0

Assembled Fund Trust Plan person

Foreign natural

Xu Lili 0.86% 328394081 0 N/A 0

person

Domestic non-

Ningxia Risheng High-tech Industry

state-owned legal 0.83% 316525766 0 N/A 0

Co. Ltd. person

Top 10 unrestricted shareholders

Shares by class and number

Name of shareholder Unrestricted ordinary shares held

Status Shares

Beijing State-owned Capital RMB-

Operation and Management Company 4063333333 denominated 4063333333

Limited ordinary share

RMB-

Hong Kong Securities Clearing

2308518791 denominated 2308518791

Company Ltd.ordinary share

RMB-

Beijing BOE Investment &

822092180 denominated 822092180

Development Co. Ltd.ordinary share

RMB-

Beijing Jing Guorui Soe Reform and

718132854 denominated 718132854

Development Fund (L.P.)

ordinary share

RMB-

Hefei Jianxiang Investment Co. Ltd. 666195772 denominated 666195772

ordinary share

RMB-

Fuqing Huirong Venture Capital

538599640 denominated 538599640

Group Co. Ltd. ordinary share

Perseverance Asset Management- RMB-

Perseverance Xiaofeng No.2 Zhixin 349999919 denominated 349999919

Fund ordinary share

FOTIC-Foreign Trade Trust- RMB-

Perseverance Xiaofeng Hongyuan 329988907 denominated 329988907

Assembled Fund Trust Plan ordinary share

RMB-

Xu Lili 328394081 denominated 328394081

ordinary share

RMB-

Ningxia Risheng High-tech Industry

316525766 denominated 316525766

Co. Ltd. ordinary share

1. After the non-public issuing of BOE in 2014 Hefei Jianxiang Investment Co. Ltd. by entering

into Implementation Protocol of Voting Right agreed to maintain all of the shares held by them

respectively unanimous with Beijing BOE Investment & Development Co. Ltd. when executing

the voting rights of the shareholders.

2. Beijing State-owned Capital Operation and Management Company Limited indirectly held

100% equities of Beijing Jingguorui Investment Management Co. Ltd. and directly held

Related or acting-in-concert parties 77.5918% shares of Beijing Jing Guorui Soe Reform and Development Fund (L.P.); Beijing

among the shareholders above Jingguorui Investment Management Co. Ltd. is the general partner of Beijing Jing Guorui Soe

Reform and Development Fund (L.P.). In addition among the nine members of the Investment

Decision-Making Committee of Beijing Jing Guorui Soe Reform and Development Fund (L.P.)

three are nominated by Beijing State-owned Capital Operation and Management Company

Limited.

3. Except for the above relationships the Company does not know any other connected party or

acting-in-concert party among the top 10 shareholders.

6BOE Technology Group Co. Ltd. Third Quarterly Report 2023

1. Shareholder Ningxia Risheng High-tech Industry Co. Ltd. totally held 316525766 shares in

the Company among which 42583700 shares were held via its general securities account and

273942066 shares via its customer credit transactions secured securities account in Ping An

Securities Co. Ltd.

2. Shareholder Xu Lili totally held 328394081 shares in the Company among which 6816100

shares were held via its general securities account 248713498 shares via its customer credit

transactions secured securities account in GF Securities Co. Ltd. and 72864483 shares via its

Top 10 ordinary shareholders involved customer credit transactions secured securities account in Ping An Securities Co. Ltd.in securities margin trading (if any) 3. The shares held by Shareholder Fuqing Huirong Venture Capital Co. Ltd. in the Company

increase by 1130600 shares due to securities refinancing.

4. Shareholders Beijing State-owned Capital Operation and Management Company Limited

Beijing BOE Investment & Development Co. Ltd. Beijing Jing Guorui SOE Reform and

Development Fund (L.P.) and Hefei Jianxiang Investment Co. Ltd. were not involved in securities

refinancing.

5. Except for the aforesaid the Company does not know any other top-10 ordinary shareholder

who was involved in securities refinancing.Note: As of the end of the Reporting Period among the top 10 shareholders BOE Technology Group Co. Ltd. held 499999919 A-

shares of the Company via its special repurchase security account accounting for 1.31%.(II) Number of Preference Shareholders and Shareholdings of Top 10 of Them

□Applicable □ Not applicable

III Other Significant Events

□ Applicable □ Not applicable

1. The Company held the 15th Meeting of the 9th Board of Directors and the 2nd Extraordinary General Meeting of 2020 on 27 August

2020 and 17 November 2020 respectively and deliberated and approved the 2020 Stock Option and Restricted Stock Grant Program

in which the Company intends to implement the Equity Incentive Scheme including both the Stock Option Incentive Scheme and the

Restricted Stock Incentive Scheme. Following the approval of the Proposal on the First Grant of Stock Options and Restricted Shares

to Incentive Objects at the 20th Meeting of the 9th Board of Directors and the 8th Meeting of the 9th Supervisory Committee the Company

disclosed the Announcement on Completion of Registration of the First Grant of the 2020 Stock Option and Restricted Stock Incentive

Scheme (Announcement No.: 2020-086) on 31 December 2020. Following the approval of the Proposal on the Achievement of Lifting

Conditions of the First lifting Restriction Period for the Restricted Stock Granted by the Stock Incentive Scheme of 2020 and the

Fulfillment of the Exercise Conditions for the Stock Option Granted for the First Time the Proposal on the Repurchase and Write-off

of Certain Restricted Shares and the Proposal for the Write-off of Certain Stock Options at the 13th Meeting of the 10th Board of

Directors and the 4th Meeting of the 10th Supervisory Committee the Company’s independent directors lawyers and independent

financial advisers respectively issued opinions on matters related to stock options and restricted stock incentives. The Company

disclosed the Reminder Announcement on Release and Circulation of Restricted Shares Granted under the 2020 Stock Option and

Restricted Stock Incentive Scheme in the First Release Period (Announcement No.: 2023-026) on 7 April 2023. The total number of

incentive targets who meet the conditions for releasing the restricted shares is 746 and the number of restricted shares that can be

released is 102260780 shares accounting for 0.2677% of the total share capital of the Company at present. The Company disclosed

the Announcement on Adjustment of the Exercise Price of the Stock Option and the Restricted Share Repurchase Price in the 2020

Stock Option and Restricted Stock Incentive Scheme of the Company (Announcement No.: 2023-045) on 29 August 2023. Since the

equity distribution of the Company for 2022 has been completed the restricted stock repurchase price involved in this incentive scheme

is adjusted from RMB2.41/share to RMB2.349/share the exercise price of the first grant of the stock option is adjusted from

RMB5.12/share to RMB5.059/share and the exercise price of the reserved and granted stock option is adjusted from RMB5.62/share

to RMB5.559/share. Following the approval of the Proposal on the Repurchase and Write-off of Certain Restricted Shares and the

7BOE Technology Group Co. Ltd. Third Quarterly Report 2023

Proposal for the Write-off of Certain Stock Options at the 21st Meeting of the 10th Board of Directors and the 7th Meeting of the 10th

Supervisory Committee the Company’s independent directors lawyers and independent financial advisers respectively issued opinions

on matters related to stock options and restricted stock incentives.

2. On 25 July 2023 the Company disclosed the Announcement on the Resolutions of the 17th Meeting of the 10th Board of Directors

(Announcement No.: 2023-037) that Mr. Fan Yuanning a non-independent director of the Company had resigned from the position of

non-independent director and the relevant position in the special committee of the Board of Directors of the Company due to work

adjustment and that Mr. Wu Lishun was nominated by the Company’s actual controller Beijing Electronics Holdings Co. Ltd. as a

non-independent director for the 10th Board of Directors of the Company. On 15 August 2023 the Company disclosed the

Announcement on the Resolutions of the 1st Extraordinary General Meeting of 2023 (Announcement No.: 2023-041) at which the

Proposal on the Election of Non-independent Director of the 10th Board of Directors of the Company was deliberated and approved

and Mr. Wu Lishun was elected as a non-independent director of the 10th Board of Directors of the Company.

3. On 27 August 2020 the Company held the 15th Meeting of the 9th Board of Directors and approved the Proposal on the Repurchase

of Certain Public Shares of the Company whereby the Company proposed to use its own funds to repurchase a portion of RMB-

denominated ordinary shares (A-Shares) issued by the Company by means of centralized bidding for the purpose of the implementation

of the Company’s Equity Incentive Scheme. The implementation of the share repurchase plan of the Company was completed on 3

September 2020 and 349999933 A-Shares were accumulatively repurchased via centralized bidding. For details please refer to the

Announcement on the Completion of the Implementation of the Share Repurchase Plan and the Results of the Implementation

(Announcement No.: 2020-058) disclosed by the Company on 5 September 2020. On 21 December 2020 the Company granted

321813800 restricted shares to 793 incentive targets and details are in the relevant announcement disclosed by the Company on 22

December 2020. On 25 July 2023 the Company disclosed the Announcement on the Resolutions of the 17th meeting of the 10th Board

of Directors (Announcement No.: 2023-037) and the Announcement on the Cancellation of Certain Treasury Shares in the Company’s

Special Securities Account for Repurchase (Announcement No.: 2023-038). In accordance with the Rules for the Repurchase of Shares

by Listed Companies and Shenzhen Stock Exchange Listed Companies Self-Regulatory Guidelines No. 9 - Share Repurchase the

remaining unutilized 28186133 shares in the special securities account for repurchase will expire three years from 5 September 2023

and the Company shall cancelled them and handle relevant cancellation procedures in accordance with regulations. On 15 August 2023

the Company disclosed the Announcement on the Resolutions of the 1st Extraordinary General Meeting of 2023 (Announcement No.:

2023-041) that the Proposal on the Cancellation of Certain Treasury Shares in the Company’s Special Securities Account for

Repurchase was deliberated and approved at the meeting. On 31 August 2023 the Company disclosed the Announcement on the

Completion of the Cancellation of Certain Treasury Shares in the Company’s Special Securities Account for Repurchase and Share

Changes (Announcement No.: 2023-050). The aforesaid 28186133 treasury shares have been cancelled on 29 August 2023 with the

Shenzhen branch of China Securities Depository and Clearing Co. Ltd. with the cancelled number of shares date of completion and

term of retirement all in compliance with the applicable laws and regulations.Overview of significant event Disclosure date Disclosure website

Announcement on the Signing of Supplemental Agreement (III) to the

Cooperation Agreement for the Life Science and Technology Industrial Base 10 June 2023 www.cninfo.com.cn

Project

Announcement on Investment and Construction of BOE Vietnam Project 29 August 2023 www.cninfo.com.cn

IV Quarterly Financial Statements

(I) Financial Statements

1. Consolidated Balance Sheet

Prepared by BOE Technology Group Co. Ltd.

8BOE Technology Group Co. Ltd. Third Quarterly Report 2023

30 September 2023

Unit: RMB

Item 30 September 2023 1 January 2023

Current assets:

Monetary assets 66135392324.00 68800307369.00

Settlement reserve 0.00 0.00

Loans to other banks and financial institutions 0.00 0.00

Held-for-trading financial assets 8745129728.00 17187993936.00

Derivative financial assets 0.00 0.00

Notes receivable 463318295.00 211792061.00

Accounts receivable 32727497186.00 28203647569.00

Receivables financing 284182132.00 0.00

Prepayments 465635945.00 589764680.00

Premiums receivable 0.00 0.00

Reinsurance receivables 0.00 0.00

Receivable reinsurance contract reserve 0.00 0.00

Other receivables 625258642.00 975809236.00

Including: Interest receivable 0.00 0.00

Dividends receivable 2669500.00 0.00

Financial assets purchased under resale agreements 0.00 0.00

Inventories 26567739644.00 22787814225.00

Contract assets 153604281.00 71636461.00

Assets held for sale 0.00 0.00

Current portion of non-current assets 9278563.00 8561307.00

Other current assets 3268833918.00 3394036919.00

Total current assets 139445870658.00 142231363763.00

Non-current assets:

Loans and advances to customers 0.00 0.00

Debt investments 0.00 0.00

Other debt investments 0.00 0.00

Long-term receivables 26383073.00 28637449.00

Long-term equity investments 13452243146.00 12421878851.00

Investments in other equity instruments 515979625.00 483060306.00

Other non-current financial assets 2083526411.00 2022967681.00

Investment property 1363891447.00 1122025138.00

Fixed assets 215729844646.00 205987050430.00

Construction in progress 27022888279.00 43386134668.00

Productive living assets 0.00 0.00

Oil and gas assets 0.00 0.00

Right-of-use assets 708009635.00 687120946.00

Intangible assets 10348796298.00 8948327143.00

Development costs 138982731.00 0.00

Goodwill 701013959.00 660823651.00

Long-term prepaid expense 578200173.00 556941377.00

Deferred income tax assets 382605292.00 76013149.00

Other non-current assets 3157276732.00 1955521384.00

Total non-current assets 276209641447.00 278336502173.00

Total assets 415655512105.00 420567865936.00

Current liabilities:

Short-term borrowings 1973934685.00 2373938871.00

Borrowings from the central bank 0.00 0.00

Loans from other banks and financial institutions 0.00 0.00

Held-for-trading financial liabilities 0.00 0.00

Derivative financial liabilities 0.00 0.00

Notes payable 1115985121.00 870221538.00

Accounts payable 32869772003.00 29834720464.00

9BOE Technology Group Co. Ltd. Third Quarterly Report 2023

Advances from customers 88592901.00 79848977.00

Contract liabilities 2719218659.00 2411717792.00

Financial assets sold under repurchase agreements 0.00 0.00

Customer deposits and deposits from other banks and financial

0.000.00

institutions

Payables for acting trading of securities 0.00 0.00

Payables for underwriting of securities 0.00 0.00

Employee benefits payable 3445164602.00 2818532823.00

Taxes and levies payable 1703639735.00 1331401188.00

Other payables 17687779152.00 19632223269.00

Including: Interest payable 169523.00 151200.00

Dividends payable 6451171.00 6410514.00

Fees and commissions payable 0.00 0.00

Reinsurance payables 0.00 0.00

Liabilities directly associated with assets held for sale 0.00 0.00

Current portion of non-current liabilities 23845920855.00 22703750744.00

Other current liabilities 3575870874.00 3613967673.00

Total current liabilities 89025878587.00 85670323339.00

Non-current liabilities:

Insurance contract reserve 0.00 0.00

Long-term borrowings 122704717482.00 123143479690.00

Bonds payable 0.00 0.00

Including: Preference shares 0.00 0.00

Perpetual bonds 0.00 0.00

Lease liabilities 574453072.00 538586010.00

Long-term payables 209647665.00 229587077.00

Long-term employee benefits payable 0.00 0.00

Provisions 3580000.00 0.00

Deferred income 4744551869.00 5156347332.00

Deferred income tax liabilities 1506571566.00 1289899658.00

Other non-current liabilities 2502779492.00 2499075805.00

Total non-current liabilities 132246301146.00 132856975572.00

Total liabilities 221272179733.00 218527298911.00

Owners’ equity:

Share capital 38157878678.00 38196363421.00

Other equity instruments 2025759110.00 8176366808.00

Including: Preference shares 0.00 0.00

Perpetual bonds 2025759110.00 8176366808.00

Capital reserves 56734629525.00 55218504392.00

Less: Treasury stock 3189463530.00 3508201911.00

Other comprehensive income -868805178.00 -1073768030.00

Specific reserve 70907696.00 0.00

Surplus reserves 3241181456.00 3241063934.00

General reserve 0.00 0.00

Retained earnings 34455292037.00 35829351680.00

Total equity attributable to owners of the Company as the parent 130627379794.00 136079680294.00

Non-controlling interests 63755952578.00 65960886731.00

Total owners’ equity 194383332372.00 202040567025.00

Total liabilities and owners’ equity 415655512105.00 420567865936.00

Legal representative: Chen Yanshun President of the Company’s Execution Committee: Gao Wenbao

Chief Financial Officer: Yang Xiaoping Head of the Company’s Financial Department: Teng Jiao

2. Consolidated Income Statement for Q1~Q3

10BOE Technology Group Co. Ltd. Third Quarterly Report 2023

Unit: RMB

Item Q1~Q3 2023 Q1~Q3 2022

1. Revenues 126515073265.00 132744386975.00

Including: Operating revenue 126515073265.00 132744386975.00

Interest income 0.00 0.00

Insurance premium income 0.00 0.00

Fee and commission income 0.00 0.00

2. Costs and expenses 129569938404.00 132516593803.00

Including: Cost of sales 112401485781.00 114557562318.00

Interest expense 0.00 0.00

Fee and commission expense 0.00 0.00

Surrenders 0.00 0.00

Net insurance claims paid 0.00 0.00

Net amount provided as insurance contract reserve 0.00 0.00

Expenditure on policy dividends 0.00 0.00

Reinsurance premium expense 0.00 0.00

Taxes and levies 832447130.00 951347871.00

Selling expense 2844265710.00 2656477233.00

Administrative expense 4263034730.00 4654091569.00

R&D expense 8146625989.00 8399773016.00

Finance costs 1082079064.00 1297341796.00

Including: Interest expense 3049519745.00 2278171212.00

Interest income 1490881748.00 1015483608.00

Add: Other income 3028949599.00 4688391574.00

Return on investment (“-” for loss) 708920094.00 576119809.00

Including: Share of profit or loss of joint ventures and

614405306.00400596521.00

associates

Income from the derecognition of financial assets at

0.000.00

amortized cost (“-” for loss)

Exchange gain (“-” for loss) 0.00 0.00

Net gain on exposure hedges (“-” for loss) 0.00 0.00

Gain on changes in fair value (“-” for loss) 126636801.00 125006673.00

Credit impairment loss (“-” for loss) 15296112.00 -25742411.00

Asset impairment loss (“-” for loss) -1344978071.00 -5251448489.00

Asset disposal income (“-” for loss) 12242941.00 7913154.00

3. Operating profit (“-” for loss) -507797663.00 348033482.00

Add: Non-operating income 267233438.00 135467497.00

Less: Non-operating expense 48065446.00 48767454.00

4. Gross profit (“-” for loss) -288629671.00 434733525.00

Less: Income tax expense 1107368073.00 1769526836.00

5. Net profit (“-” for net loss) -1395997744.00 -1334793311.00

5.1 By operating continuity

5.1.1 Net profit from continuing operations (“-” for net loss) -1395997744.00 -1334793311.00

5.1.2 Net profit from discontinued operations (“-” for net loss) 0.00 0.00

5.2 By ownership

5.2.1 Net profit attributable to shareholders of the Company as the 1022157403.00

5291104216.00

parent (“-” for net loss)

5.2.1 Net profit attributable to non-controlling interests (“-” for -2418155147.00

-6625897527.00

net loss)

6. Other comprehensive income net of tax 294067594.00 -1080248241.00

Attributable to owners of the Company as the parent 206138073.00 -1074930204.00

6.1 Items that will not be reclassified to profit or loss 24851001.00 -67403720.00

6.1.1 Changes caused by remeasurements on defined benefit

0.000.00

schemes

6.1.2 Other comprehensive income that will not be reclassified

11074578.00-51358569.00

to profit or loss under the equity method

6.1.3 Changes in the fair value of investments in other equity

13776423.00-16045151.00

instruments

11BOE Technology Group Co. Ltd. Third Quarterly Report 2023

6.1.4 Changes in the fair value arising from changes in own

0.000.00

credit risk

6.1.5 Other 0.00 0.00

6.2 Items that will be reclassified to profit or loss 181287072.00 -1007526484.00

6.2.1 Other comprehensive income that will be reclassified to

40654.0073424.00

profit or loss under the equity method

6.2.2 Changes in the fair value of other debt investments 0.00 0.00

6.2.3 Other comprehensive income arising from the

0.000.00

reclassification of financial assets

6.2.4 Credit impairment allowance for other debt investments 0.00 0.00

6.2.5 Reserve for cash flow hedges 0.00 0.00

6.2.6 Differences arising from the translation of foreign

181246418.00-1007599908.00

currency-denominated financial statements

6.2.7 Other 0.00 0.00

Attributable to non-controlling interests 87929521.00 -5318037.00

7. Total comprehensive income -1101930150.00 -2415041552.00

7.1 Attributable to owners of the Company as the parent 1228295476.00 4216174012.00

7.2 Attributable to non-controlling interests -2330225626.00 -6631215564.00

8. Earnings per share

8.1 Basic earnings per share 0.02 0.13

8.2 Diluted earnings per share 0.02 0.13

Where business combinations under common control occurred in the current period the net profit achieved by the acquirees before the

combinations was RMB0.00 with the amount for the same period of last year being RMB0.00.Legal representative: Chen Yanshun President of the Company’s Execution Committee: Gao Wenbao

Chief Financial Officer: Yang Xiaoping Head of the Company’s Financial Department: Teng Jiao

3. Consolidated Cash Flow Statement for Q1~Q3

Unit: RMB

Item Q1~Q3 2023 Q1~Q3 2022

1. Cash flows from operating activities:

Proceeds from sale of commodities and rendering of services 128861224373.00 149238433709.00

Net increase in customer deposits and deposits from other banks and

0.000.00

financial institutions

Net increase in borrowings from the central bank 0.00 0.00

Net increase in loans from other financial institutions 0.00 0.00

Premiums received on original insurance contracts 0.00 0.00

Net proceeds from reinsurance 0.00 0.00

Net increase in deposits and investments of policy holders 0.00 0.00

Interest fees and commissions received 0.00 0.00

Net increase in loans from other banks and financial institutions 0.00 0.00

Net increase in proceeds from repurchase transactions 0.00 0.00

Net proceeds from acting trading of securities 0.00 0.00

Tax and levy rebates 7559093705.00 15073124057.00

Cash generated from other operating activities 4181752774.00 6776267125.00

Subtotal of cash generated from operating activities 140602070852.00 171087824891.00

Payments for commodities and services 95755057940.00 116214674571.00

Net increase in loans and advances to customers 0.00 0.00

Net increase in deposits in the central bank and other banks and

0.000.00

financial institutions

Payments for claims on original insurance contracts 0.00 0.00

Net increase in loans to other banks and financial institutions 0.00 0.00

Interest fees and commissions paid 0.00 0.00

Policy dividends paid 0.00 0.00

Cash paid to and for employees 13385072461.00 15488498730.00

Taxes and levies paid 3088503388.00 4733280889.00

Cash used in other operating activities 5314157308.00 3620934400.00

12BOE Technology Group Co. Ltd. Third Quarterly Report 2023

Subtotal of cash used in operating activities 117542791097.00 140057388590.00

Net cash generated from/used in operating activities 23059279755.00 31030436301.00

2. Cash flows from investing activities:

Proceeds from disinvestment 58685205131.00 62428998594.00

Return on investment 416695592.00 324649377.00

Net proceeds from the disposal of fixed assets intangible assets and

16546021.005500981.00

other long-lived assets

Net proceeds from the disposal of subsidiaries and other business

0.000.00

units

Cash generated from other investing activities 3102733058.00 918167460.00

Subtotal of cash generated from investing activities 62221179802.00 63677316412.00

Payments for the acquisition of fixed assets intangible assets and

15107704462.0021617268503.00

other long-lived assets

Payments for investments 50370146815.00 68234624848.00

Net increase in pledged loans granted 0.00 0.00

Net payments for the acquisition of subsidiaries and other business

165331097.000.00

units

Cash used in other investing activities 46233055.00 664476852.00

Subtotal of cash used in investing activities 65689415429.00 90516370203.00

Net cash generated from/used in investing activities -3468235627.00 -26839053791.00

3. Cash flows from financing activities:

Capital contributions received 1438770202.00 4701942329.00

Including: Capital contributions by non-controlling interests to

1438770202.002701942329.00

subsidiaries

Borrowings received 22403007817.00 41532798686.00

Cash generated from other financing activities 47648917.00 17184658.00

Subtotal of cash generated from financing activities 23889426936.00 46251925673.00

Repayment of borrowings 24579665192.00 41856013694.00

Interest and dividends paid 7302357493.00 12400683947.00

Including: Dividends paid by subsidiaries to non-controlling

76330524.0042013745.00

interests

Cash used in other financing activities 13784654546.00 2230559147.00

Subtotal of cash used in financing activities 45666677231.00 56487256788.00

Net cash generated from/used in financing activities -21777250295.00 -10235331115.00

4. Effect of foreign exchange rates changes on cash and cash

771184697.001842700102.00

equivalents

5. Net increase in cash and cash equivalents -1415021470.00 -4201248503.00

Add: Cash and cash equivalents beginning of the period 64382037764.00 76623486083.00

6. Cash and cash equivalents end of the period 62967016294.00 72422237580.00

(II) Adjustments to Financial Statement Items at the Beginning of the Year of the First Implementation of

the New Accounting Standards Implemented since 2023

□ Applicable □ Not applicable

Note to adjustments

The Company will make corresponding adjustments to relevant accounting policies in accordance with the Notice on Issuing the

Interpretation No. 16 of Accounting Standards for Business Enterprises (C.K. [2022] No. 31) issued by the Ministry of Finance on 30

November 2022 (hereinafter referred to as the "Interpretation No. 16").According to Interpretation No. 16 for single transactions that are not business combinations that affect neither accounting profit nor

taxable income (or deductible losses) at the time the transaction occurs and where the initial recognition of assets and liabilities results

in taxable temporary differences and deductible temporary differences of equal amounts (including lease transactions in which the

lessee recognises the initial lease liability and includes it in the right to use asset at the commencement date of the lease term as well

as transactions in which estimated liabilities are recognised and included in the costs of related assets due to fixed assets disposal

obligations and other disposal obligations etc. Hereinafter referred to as single transactions that are applicable to this interpretation)

exemption from initial recognition of deferred income tax liabilities and deferred income tax assets under Article XI (II) and Article

13BOE Technology Group Co. Ltd. Third Quarterly Report 2023

XIII of No. 18 of the Accounting Standards for Business Enterprises -- Income Taxes is not applicable. The Company shall recognise

the corresponding deferred income tax liabilities and deferred income tax assets for the taxable temporary differences and deductible

temporary differences arising from the initial recognition of assets and liabilities in respect of the transaction when the transaction

occurs in accordance with the relevant provisions of No. 18 of the Accounting Standards for Business Enterprises -- Income Taxes

and other regulations.According to Interpretation No. 16 the Company started from 1 January 2023 to adjust the retained income brought forward in the

earliest period presented in the financial statement and other relevant items of the financial statement based on the accumulated number

of impacts. Interpretation No. 16 has no significant impact on the parent company's financial statement consolidated income statement

and consolidated cash flow statement. The impact on the consolidated balance sheet is as follows:

31 December 2022 (Unit: RMB)

Item

Before After Adjusted

Deferred income tax assets 70250425.00 76013149.00? 5762724.00

Deferred income tax liabilities 1274406833.00 1289899658.00 15492825.00

Retained earnings 35839081781.00? 35829351680.00? -9730101.00

(III) Independent Auditor’s Report

Indicate by tick mark whether the financial statements above have been audited by an independent auditor.□Yes □ No

These financial statements have not been audited by such an auditor.BOE Technology Group Co. Ltd.Board of Directors

31 October 2023

14