FIRST QUARTERLY REPORT 2024

April 2024BOE Technology Group Co. Ltd. First Quarterly Report 2024

Stock Code: 000725 Stock Name: BOE-A Announcement No. 2024-026

Stock Code: 200725 Stock Name: BOE-B Announcement No. 2024-026

BOE TECHNOLOGY GROUP CO. LTD.FIRST QUARTERLY REPORT 2024

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 its summary 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 and its summary.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. First Quarterly Report 2024

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

Item Q1 2024 Q1 2023 Change (%)

Operating revenue (RMB) 45887570444.00 37973495034.00 20.84%

Net profit attributable to the listed company’s

983812692.00247315140.00297.80%

shareholders (RMB)

Net profit attributable to the listed company’s

596689345.00-1667931828.00135.77%

shareholders before exceptional items (RMB)

Net cash generated from/used in operating

16230705070.0010122426068.0060.34%

activities (RMB)

Basic earnings per share (RMB/share) 0.026 0.003 766.67%

Diluted earnings per share (RMB/share) 0.026 0.003 766.67%

Weighted average return on equity (%) 0.76% 0.09% 0.67%

Item 31 March 2024 31 December 2023 Change (%)

Total assets (RMB) 417272675457.00 419187099795.00 -0.46%

Equity attributable to the listed company’s

130359905513.00129428307067.000.72%

shareholders (RMB)

(II) Exceptional Gains and Losses

□ Applicable □ Not applicable

Unit: RMB

Item Q1 2024 Note

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

36581463.00 N/A

write-offs)

Government grants recognised in profit or loss (exclusive of those that are closely

related to the Company's normal business operations and given in accordance with

449277865.00 N/A

defined criteria and in compliance with government policies and have a continuing

impact on the Company's profit or loss)

Gain or loss on fair-value changes in financial assets and liabilities held by a non-

financial enterprise as well as on disposal of financial assets and liabilities

-45784452.00 N/A

(exclusive of the effective portion of hedges that is related to the Company's normal

business operations)

Capital occupation charges on non-financial enterprises that are charged to current

0.00 N/A

gains and losses

Gains and losses on investment or asset management entrustments to other entities 0.00 N/A

Gains and losses on loan entrustment 0.00 N/A

Allowance for asset impairments due to acts of God such as natural disasters 0.00 N/A

Reversed portion of impairment allowance for accounts receivable which are tested

515713.00 N/A

individually for impairment

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 N/A

fair value of identifiable net assets of investees when making investments

Current gains and losses on subsidiaries acquired through business mergers under

0.00 N/A

same control from period-beginning to merger dates net

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

Gains and losses on debt restructuring 0.00 N/A

One-off costs incurred by the Company as a result of discontinued operations such

0.00 N/A

as expenses for employee arrangements

3BOE Technology Group Co. Ltd. First Quarterly Report 2024

One-time effect on profit or loss due to adjustments in tax accounting and other laws

0.00 N/A

and regulations

One-time share-based payments recognized due to cancellation and modification of

0.00 N/A

equity incentive plans

Gain or loss on changes in the fair value of employee benefits payable after the

0.00 N/A

vesting date for cash-settled share-based payments

Gain or loss on fair-value changes in investment property of which subsequent

0.00 N/A

measurement is carried out using the fair value method

Income from transactions with distinctly unfair prices 0.00 N/A

Gain or loss on contingencies that are unrelated to the Company's normal business

0.00 N/A

operations

Income from charges on entrusted management 0.00 N/A

Non-operating income and expense other than the above 46263531.00 N/A

Other gains and losses that meet the definition of exceptional gain/loss 0.00 N/A

Less: Income tax effects -4063176.00 N/A

Non-controlling interests effects (net of tax) 103793949.00 N/A

Total 387123347.00 --

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

□Applicable □ Not applicable

No such cases in 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:

□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. Finance costs declined 58% year on year primarily driven by the increased net exchange gain during the Reporting Period.

2. Other income declined 73% year on year primarily driven by the decreased government grants during the Reporting Period.

3. Return on investment declined 176% year on year primarily driven by the decreased returns recognized on investments in associates

during the Reporting Period.

4. Gain on changes in fair value declined 150% year on year primarily driven by the decreased gains on investments in equity

instruments 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 rose 60.34% year on year primarily driven by the increased sales during the Reporting

Period.

2. Net cash generated from investment activities declined 1414.08% year on year primarily driven by the decreased net cash received

from disinvestments during the Reporting Period.

3. Net cash generated from financing activities rose 66.34% year on year primarily driven by the repayment of perpetual bonds and

the repurchase of equities last year.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 1182138 (including 1150568 A-shareholders and 31570 B-shareholders)

Top 10 shareholders (exclusive of shares lent in refinancing)

4BOE Technology Group Co. Ltd. First Quarterly Report 2024

Shareholdi Shares in pledge marked or

Nature of Restricted

Name of shareholder ng Total shares held frozen

shareholder shares

percentage Status Shares

Beijing State-owned Capital Operation State-owned

10.79% 4063333333.00 0.00 N/A 0.00

and Management Company Limited legal person

Hong Kong Securities Clearing Company Foreign

6.97% 2624659006.00 0.00 N/A 0.00

Ltd. legal person

Beijing BOE Investment & Development State-owned

2.18% 822092180.00 0.00 N/A 0.00

Co. Ltd. legal person

Beijing Jing Guorui Soe Reform and

Other 1.91% 718132854.00 0.00 N/A 0.00

Development Fund (L.P.)

State-owned

Hefei Jianxiang Investment Co. Ltd. 1.77% 666195772.00 0.00 N/A 0.00

legal person

Domestic

non-state-

Fuqing Huirong Venture Capital Co. Ltd. 1.43% 538599640.00 0.00 In pledge 15000000.00

owned legal

person

Industrial and Commercial Bank of China

Co. Ltd.- Huatai-Pinebridge CSI 300 Other 1.07% 404515947.00 0.00 N/A 0.00

Exchange-Traded Fund

Perseverance Asset Management-

Other 0.94% 352999919.00 0.00 N/A 0.00

Perseverance Xiaofeng No.2 Zhixin Fund

Foreign

Abu Dhabi Investment Authority 0.92% 348200231.00 0.00 N/A 0.00

legal person

Foreign

Xu Lili natural 0.90% 337354681.00 0.00 N/A 0.00

person

Top 10 unrestricted shareholders

Shares by type

Name of shareholder Unrestricted shares held

Type Shares

Beijing State-owned Capital Operation and Management

4063333333.00 RMB ordinary share 4063333333.00

Company Limited

Hong Kong Securities Clearing Company Ltd. 2624659006.00 RMB ordinary share 2624659006.00

Beijing BOE Investment & Development Co. Ltd. 822092180.00 RMB ordinary share 822092180.00

Beijing Jing Guorui Soe Reform and Development Fund (L.P.) 718132854.00 RMB ordinary share 718132854.00

Hefei Jianxiang Investment Co. Ltd. 666195772.00 RMB ordinary share 666195772.00

Fuqing Huirong Venture Capital Co. Ltd. 538599640.00 RMB ordinary share 538599640.00

Industrial and Commercial Bank of China Co. Ltd.- Huatai-

404515947.00 RMB ordinary share 404515947.00

Pinebridge CSI 300 Exchange-Traded Fund

Perseverance Asset Management- Perseverance Xiaofeng

352999919.00 RMB ordinary share 352999919.00

No.2 Zhixin Fund

Abu Dhabi Investment Authority 348200231.00 RMB ordinary share 348200231.00

Xu Lili 337354681.00 RMB ordinary share 337354681.00

1. Beijing State-owned Capital Operation and Management Company Limited indirectly held 100% equities

of Beijing Jingguorui Investment Management Co. Ltd. and directly held 77.5918% shares of Beijing Jing

Guorui Soe Reform and Development Fund (L.P.); Beijing Jingguorui Investment Management Co. Ltd. is

Related or acting-in- the general partner of Beijing Jing Guorui Soe Reform and Development Fund (L.P.). In addition among the

concert parties among the nine members of the Investment Decision-Making Committee of Beijing Jing Guorui Soe Reform and

shareholders above Development Fund (L.P.) three are nominated by Beijing State-owned Capital Operation and Management

Company Limited.

2. Except for the above relationships the Company does not know any other connected party or acting-in-

concert party among the top 10 shareholders.

1. Shareholder Xu Lili totally held 337354681 shares in the Company among which 9910000 shares were

held via its general securities account 248713498 shares via its customer credit transactions secured

securities account in GF Securities Co. Ltd. and 78731183 shares via its customer credit transactions secured

Top 10 ordinary

securities account in Ping An Securities Co. Ltd.shareholders involved in

securities margin trading 2. The shares held by Shareholder Fuqing Huirong Venture Capital Co. Ltd. in the Company increased by

3297100 shares due to securities refinancing.

3. The shares held by Shareholder Industrial and Commercial Bank of China Co. Ltd.- Huatai-Pinebridge CSI

300 Exchange-Traded Fund in the Company increased by 140700 shares due to securities refinancing.

5BOE Technology Group Co. Ltd. First Quarterly Report 2024

4. Except for the aforesaid no shareholder among the top-10 ordinary shareholders of the Company was

involved in securities refinancing.Note: 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 it unanimous with Beijing BOE Investment & Development Co. Ltd. when

executing the voting rights as a shareholder.

5% or greater shareholders top 10 shareholders and Top 10 unrestricted shareholders involved in refinancing shares lending

□ Applicable □ Not applicable

Unit: share

5% or greater shareholders top 10 shareholders and Top 10 unrestricted shareholders involved in refinancing shares lending

Shares lent in

Shares in the common Shares lent in refinancing Shares in the common

refinancing and not

account and credit account and not yet returned at the account and credit account

yet returned at the

Full name of at the period-begin period-begin at the period-end

period-end

shareholder

As % of As % of As % of As % of

Total

Total shares total share Total shares total share Total shares total share total share

shares

capital capital capital capital

Fuqing Huirong

Venture Capital Co. 535302540 1.42% 3297100 0.01% 538599640 1.43% 0 0.00%

Ltd.Industrial and

Commercial Bank of

China Co. Ltd.-

2796190470.74%1407000.00%4045159471.07%00.00%

Huatai-Pinebridge

CSI 300 Exchange-

Traded Fund

Changes in top 10 shareholders and top 10 unrestricted shareholders due to refinancing shares lending/return compared with the prior

period

□Applicable □ Not applicable

(II) Number of Preference Shareholders and Shareholdings of Top 10 of Them

□Applicable □ Not applicable

III Other Significant Events

□ Applicable □ Not applicable

1. On 18 October 2019 the Company disclosed the Announcement on the Company’s Application for CSRC’s Approval for its Public

Issue of Renewable Corporate Bonds (Announcement No. 2019-052) and the Company received the No. [2019] 1801 Approval from

CSRC. Based on the approval the Company could publicly issue the renewable corporate bonds with the nominal value no more than

RMB30 billion to qualified investors. The bond outstanding as of the disclosure date of this Report is as follows:

Bond name Abbr. Bond code Date of issue Maturity

2022 Public Offering of Renewable Corporate

Bonds of BOE (for professional investors) 22BOEY1 149861 24 March 2022 25 March 2025

(Digital Economy) (Phase I)

The Company disclosed 2023 "22BOEY1" Interest Payment Announcement (Announcement No. 2024-005) on 21 March 2024. The

interest payment plan was RMB35.00 (including tax) every ten bonds.

2. 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

6BOE Technology Group Co. Ltd. First Quarterly Report 2024

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 Exercise Conditions of the Second Exercise Schedule for the Stock Option Granted by the Stock Option Incentive Scheme of 2020

and the Fulfillment of the Exercise Conditions for the Stock Option Granted for the Second 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 28th Meeting of the 10th

Board of Directors and the 4th Meeting of the 10th Supervisory Committee the Company’s 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 Second Release Period (Announcement No. 2024-021) on 10 April 2024. The total number of incentive targets who

meet the conditions for releasing the restricted shares is 716 and the number of restricted shares that can be released is 95859475

shares accounting for 0.2546% of the total share capital of the Company at present. The restricted shares released this time are listed

and traded since 11 April 2024.

3. The Company disclosed the Announcement on Election of Non-Independent Directors of the 10th Board of Directors (No. 2024-018)

on 2 April 2024. Beijing Electronics Holdings Co. Ltd. the actual controller of the Company nominated Mr. Feng Qiang Mr. Zhu

Baocheng and Mr. Wang Xiping as non-independent director candidates of the 10th Board of Directors of the Company. The Company

disclosed the Announcement on Resolutions of the 2023 Annual General Meeting (No. 2024-023) on 27 April 2024 which reviewed

and approved the Proposal on Election of Non-Independent Directors of the 10th Board of Directors and Mr. Feng Qiang Mr. Zhu

Baocheng and Mr. Wang Xiping were elected as non-independent directors of the 10th Board of Directors of the Company.IV Quarterly Financial Statements

(I) Financial Statements

1. Consolidated Balance Sheet

Prepared by BOE Technology Group Co. Ltd.

31 March 2024

Unit: RMB

Item 31 March 2024 1 January 2024

Current assets:

Monetary assets 82201886021.00 72467392718.00

Settlement reserve 0.00 0.00

Loans to other banks and financial institutions 0.00 0.00

Held-for-trading financial assets 6040864879.00 7755964495.00

Derivative financial assets 0.00 0.00

Notes receivable 373643131.00 375577011.00

Accounts receivable 29828289330.00 33365416490.00

Receivables financing 522585937.00 408534622.00

Prepayments 591597420.00 558659780.00

Premiums receivable 0.00 0.00

Reinsurance receivables 0.00 0.00

Receivable reinsurance contract reserve 0.00 0.00

Other receivables 691105005.00 726659207.00

Including: Interest receivable 0.00 0.00

Dividends receivable 0.00 0.00

Financial assets purchased under resale agreements 0.00 0.00

Inventories 24025960685.00 24119667325.00

Including: Data resource 0.00 0.00

Contract assets 94916789.00 95710742.00

7BOE Technology Group Co. Ltd. First Quarterly Report 2024

Assets held for sale 0.00 0.00

Current portion of non-current assets 8770540.00 8683381.00

Other current assets 2502024952.00 3308338931.00

Total current assets 146881644689.00 143190604702.00

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 3506003.00 3341844.00

Long-term equity investments 13469513969.00 13731696627.00

Investments in other equity instruments 472574251.00 494629577.00

Other non-current financial assets 2285559073.00 2253778325.00

Investment property 1412286238.00 1412553446.00

Fixed assets 211653135782.00 210371476524.00

Construction in progress 22726473982.00 29670115546.00

Productive living assets 0.00 0.00

Oil and gas assets 0.00 0.00

Right-of-use assets 747910131.00 724344345.00

Intangible assets 11361538810.00 11565585700.00

Including: Data resource 0.00 0.00

Development costs 157408158.00 166977531.00

Including: Data resource 0.00 0.00

Goodwill 704705586.00 704705586.00

Long-term prepaid expense 495661605.00 534494564.00

Deferred income tax assets 430479753.00 396877020.00

Other non-current assets 4470277427.00 3965918458.00

Total non-current assets 270391030768.00 275996495093.00

Total assets 417272675457.00 419187099795.00

Current liabilities:

Short-term borrowings 2511608409.00 1746184534.00

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 749778501.00 919313033.00

Accounts payable 34337777410.00 32977603351.00

Advances from customers 79321348.00 94704981.00

Contract liabilities 3021294530.00 3000168620.00

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 2756293611.00 3100911276.00

Taxes and levies payable 1392432808.00 1317080022.00

Other payables 18425738799.00 19487760965.00

Including: Interest payable 181806.00 175698.00

Dividends payable 13555614.00 39014714.00

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 20501362198.00 24437027442.00

Other current liabilities 3051762876.00 3085773591.00

Total current liabilities 86827370490.00 90166527815.00

Non-current liabilities:

Insurance contract reserve 0.00 0.00

Long-term borrowings 122232501137.00 121546339022.00

8BOE Technology Group Co. Ltd. First Quarterly Report 2024

Bonds payable 0.00 0.00

Including: Preference shares 0.00 0.00

Perpetual bonds 0.00 0.00

Lease liabilities 579208760.00 542141496.00

Long-term payables 170229197.00 171611393.00

Long-term employee benefits payable 0.00 0.00

Provisions 3580000.00 3580000.00

Deferred income 5050235432.00 4763051955.00

Deferred income tax liabilities 1552738554.00 1694639729.00

Other non-current liabilities 2507872067.00 2500522066.00

Total non-current liabilities 132096365147.00 131221885661.00

Total liabilities 218923735637.00 221388413476.00

Owners’ equity:

Share capital 37652529195.00 37652529195.00

Other equity instruments 1990663220.00 2043402946.00

Including: Preference shares 0.00 0.00

Perpetual bonds 1990663220.00 2043402946.00

Capital reserves 52146549454.00 52113580746.00

Less: Treasury stock 462036240.00 462036240.00

Other comprehensive income -1196419518.00 -1136997224.00

Specific reserve 96155746.00 66472402.00

Surplus reserves 3571778635.00 3571778635.00

General reserve 0.00 0.00

Retained earnings 36560685021.00 35579576607.00

Total equity attributable to owners of the Company as the parent 130359905513.00 129428307067.00

Non-controlling interests 67989034307.00 68370379252.00

Total owners’ equity 198348939820.00 197798686319.00

Total liabilities and owners’ equity 417272675457.00 419187099795.00

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

Unit: RMB

Item Q1 2024 Q1 2023

1. Revenues 45887570444.00 37973495034.00

Including: Operating revenue 45887570444.00 37973495034.00

Interest revenue 0.00 0.00

Insurance premium income 0.00 0.00

Fee and commission income 0.00 0.00

2. Costs and expenses 44896545276.00 41104993880.00

Including: Cost of sales 39241468364.00 35374272767.00

Interest costs 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 286396464.00 263253907.00

Selling expense 995736766.00 932265694.00

Administrative expense 1456643618.00 1425783553.00

R&D expense 2725845440.00 2660326920.00

Finance costs 190454624.00 449091039.00

9BOE Technology Group Co. Ltd. First Quarterly Report 2024

Including: Interest costs 952033531.00 961729826.00

Interest revenue 548748379.00 479238144.00

Add: Other income 617195143.00 2316043230.00

Return on investment (“-” for loss) -205512994.00 269472747.00

Including: Share of profit or loss of joint ventures and

-241469988.00246000059.00

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) -54369469.00 108495867.00

Credit impairment loss (“-” for loss) -20856249.00 11376959.00

Asset impairment loss (“-” for loss) -748246680.00 -631964684.00

Asset disposal income (“-” for loss) 7040622.00 7748007.00

3. Operating profit (“-” for loss) 586275541.00 -1050326720.00

Add: Non-operating income 53109234.00 68942202.00

Less: Non-operating expense 4647001.00 10942755.00

4. Gross profit (“-” for loss) 634737774.00 -992327273.00

Less: Income tax expense 151905420.00 242986937.00

5. Net profit (“-” for net loss) 482832354.00 -1235314210.00

5.1 By operating continuity

5.1.1 Net profit from continuing operations (“-” for net loss) 482832354.00 -1235314210.00

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 owners of the Company as

983812692.00247315140.00

the parent

5.2.1 Net profit attributable to non-controlling interests -500980338.00 -1482629350.00

6. Other comprehensive income net of tax -56021404.00 7276532.00

Attributable to owners of the Company as the parent -44866298.00 10232350.00

6.1 Items that will not be reclassified to profit or loss -2950788.00 46400833.00

6.1.1 Changes caused by remeasurements on defined

0.000.00

benefit schemes

6.1.2 Other comprehensive income that will not be

-4679148.0028175376.00

reclassified to profit or loss under the equity method

6.1.3 Changes in the fair value of investments in other

1728360.0018225457.00

equity instruments

6.1.4 Changes in the fair value arising from changes in

0.000.00

own credit risk

6.1.5 Other 0.00 0.00

6.2 Items that will be reclassified to profit or loss -41915510.00 -36168483.00

6.2.1 Other comprehensive income that will be

0.000.00

reclassified to 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

0.000.00

investments

6.2.5 Reserve for cash flow hedges 0.00 0.00

6.2.6 Differences arising from the translation of foreign

-41915510.00-36168483.00

currency-denominated financial statements

6.2.7 Other 0.00 0.00

Attributable to non-controlling interests -11155106.00 -2955818.00

7. Total comprehensive income 426810950.00 -1228037678.00

Attributable to owners of the Company as the parent 938946394.00 257547490.00

Attributable to non-controlling interests -512135444.00 -1485585168.00

8. Earnings per share

8.1 Basic earnings per share 0.026 0.003

8.2 Diluted earnings per share 0.026 0.003

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.

10BOE Technology Group Co. Ltd. First Quarterly Report 2024

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

Unit: RMB

Item Q1 2024 Q1 2023

1. Cash flows from operating activities:

Proceeds from sale of commodities and rendering of services 52321850824.00 42514868173.00

Net increase in customer deposits and deposits from other banks

0.000.00

and 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 2518507872.00 2313084732.00

Cash generated from other operating activities 1320664784.00 2757111561.00

Subtotal of cash generated from operating activities 56161023480.00 47585064466.00

Payments for commodities and services 31470733300.00 30398741266.00

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 5417226891.00 5009341362.00

Taxes and levies paid 1333136024.00 816646900.00

Cash used in other operating activities 1709222195.00 1237908870.00

Subtotal of cash used in operating activities 39930318410.00 37462638398.00

Net cash generated from/used in operating activities 16230705070.00 10122426068.00

2. Cash flows from investing activities:

Proceeds from disinvestment 8551543161.00 23831855131.00

Return on investment 109848899.00 149214617.00

Net proceeds from the disposal of fixed assets intangible assets

6919339.008453288.00

and other long-lived assets

Net proceeds from the disposal of subsidiaries and other

0.000.00

business units

Cash generated from other investing activities 730329518.00 1810581640.00

Subtotal of cash generated from investing activities 9398640917.00 25800104676.00

Payments for the acquisition of fixed assets intangible assets

4990971613.004162151317.00

and other long-lived assets

Payments for investments 13799650053.00 22250323389.00

Net increase in pledged loans granted 0.00 0.00

Net payments for the acquisition of subsidiaries and other

0.000.00

business units

Cash used in other investing activities 10663235.00 8643927.00

Subtotal of cash used in investing activities 18801284901.00 26421118633.00

Net cash generated from/used in investing activities -9402643984.00 -621013957.00

3. Cash flows from financing activities:

Capital contributions received 333442000.00 140300202.00

Including: Capital contributions by non-controlling interests

333442000.00140300202.00

to subsidiaries

11BOE Technology Group Co. Ltd. First Quarterly Report 2024

Borrowings received 11049663476.00 10054932380.00

Cash generated from other financing activities 3391076.00 1528590.00

Subtotal of cash generated from financing activities 11386496552.00 10196761172.00

Repayment of borrowings 13103045886.00 12032755699.00

Interest and dividends paid 1747105196.00 2096011812.00

Including: Dividends paid by subsidiaries to non-controlling

0.000.00

interests

Cash used in other financing activities 190458308.00 6925098464.00

Subtotal of cash used in financing activities 15040609390.00 21053865975.00

Net cash generated from/used in financing activities -3654112838.00 -10857104803.00

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

87086878.00-224798117.00

equivalents

5. Net increase in cash and cash equivalents 3261035126.00 -1580490809.00

Add: Cash and cash equivalents beginning of the period 52092981748.00 64382037764.00

6. Cash and cash equivalents end of the period 55354016874.00 62801546955.00

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

the New Accounting Standards Implemented since 2024

□ Applicable □ Not applicable

(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.The Board of Directors

BOE Technology Group Co. Ltd.

29 April 2024

12