BOE Technology Group Co. Ltd. Interim Report 2023 (Summary)

Stock Code: 000725 200725 Stock Name: BOE-A BOE-B Announcement No. 2023-049

BOE TECHNOLOGY GROUP CO. LTD.INTERIM REPORT 2023 (SUMMARY)

Part I Important Notes

This Summary is based on the full Interim Report of BOE Technology Group Co. Ltd. (together with its consolidated subsidiaries the

“Company” except where the context otherwise requires). In order for a full understanding of the Company’s operating results

financial condition and future development plans investors should carefully read the aforesaid full report which has been disclosed

together with this Summary on the media designated by the China Securities Regulatory Commission (the “CSRC”).All the Company’s directors have attended the Board meeting for the review of this Report and its summary.Independent auditor’s modified opinion:

□ Applicable □ Not applicable

Board-approved interim cash and/or stock dividend plan for ordinary shareholders:

□ Applicable □ Not applicable

The Company has no interim dividend plan either in the form of cash or stock.Board-approved interim cash and/or stock dividend plan for preferred shareholders:

□ Applicable □ Not applicable

This Report and its summary have been prepared in both Chinese and English. Should there be any discrepancies or misunderstandings

between the two versions the Chinese versions shall prevail.Part II Key Corporate Information

1. Stock Profile

Stock name BOE-A BOE-B Stock code 000725 200725

Stock exchange for stock listing Shenzhen Stock Exchange

Changed stock name (if any) N/A

Contact information Board Secretary Securities Representative

Name Liu Hongfeng Luo Wenjie

12 Xihuan Middle Road Beijing 12 Xihuan Middle Road Beijing

Office address Economic-Technological Development Economic-Technological Development

Area P.R.China Area P.R.China

Tel. 010-64318888 ext. 010-64318888 ext.E-mail address liuhongfeng@boe.com.cn luowenjie@boe.com.cn

2. Key Financial Information

Indicate by tick mark whether there is any retrospectively restated datum in the table below.

1BOE Technology Group Co. Ltd. Interim Report 2023 (Summary)

□ Yes □ No

Reason for retrospective restatement:

Change of accounting policy.Change

H1 2022

Item H1 2023 (%)

Before Restated Restated

Operating revenue (RMB) 80177875220.00 91610241869.00 91610241869.00 -12.48%

Net profit attributable to the listed

735809609.006595661738.006595661738.00-88.84%

company’s shareholders (RMB)

Net profit attributable to the listed

company’s shareholders before -1584440291.00 4239456093.00 4239456093.00 -137.37%

exceptional gains and losses (RMB)

Net cash generated from/used in

16243669123.0028112000665.0028112000665.00-42.22%

operating activities (RMB)

Basic earnings per share (RMB/share) 0.02 0.17 0.17 -88.24%

Diluted earnings per share (RMB/share) 0.02 0.17 0.17 -88.24%

Weighted average return on equity (%) 0.50% 4.80% 4.80% -4.30%

Change

31 December 2022

Item 30 June 2023 (%)

Before Restated Restated

Total assets (RMB) 409414907091.00 420562103212.00 420567865936.00 -2.65%

Equity attributable to the listed

129031756302.00136089410395.00136079680294.00-5.18%

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.

3. Shareholders and Their Holdings as at the End of the Reporting Period

Unit: share

Number of ordinary shareholders at the period-

1320143 (including 1288035 A-shareholders and 32108 B-shareholders)

end

Top 10 shareholders

Shares in pledge

Nature of Shareholding Restricted

Name of shareholder Number of shares marked or frozen

shareholder percentage shares

Status Shares

Beijing State-owned Capital

State-owned

Operation and Management 10.64% 4063333333 0 N/A 0

legal person

Company Limited

Hong Kong Securities Clearing Foreign

8.66% 3307482377 0 N/A 0

Company Ltd. legal person

Beijing BOE Investment & State-owned

2.15% 822092180 0 N/A 0

Development Co. Ltd. legal person

Beijing Jing Guorui Soe Reform

Other 1.88% 718132854 0 N/A 0

and Development Fund (L.P.)

Hefei Jianxiang Investment Co. State-owned

1.74% 666195772 0 N/A 0

Ltd. legal person

Fuqing Huirong Venture Capital Domestic

1.41% 537469040 0 N/A 0

Co. Ltd. non-state-

2BOE Technology Group Co. Ltd. Interim Report 2023 (Summary)

owned legal

person

Domestic

Ningxia Risheng High-tech non-state-

0.89% 339025766 0 N/A 0

Industry Co. Ltd. owned legal

person

Sinatay Life Insurance Co. Ltd.-

Other 0.80% 305330128 0 N/A 0

Traditional Product

Beijing Electronics Holdings Co. State-owned

0.72% 273735583 0 N/A 0

Ltd. legal person

Foreign

Xu Lili natural 0.71% 272735592 0 N/A 0

person

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

100% equities of Beijing Electronics Holdings Co. Ltd.

2. Beijing Electronics Holdings Co. Ltd. held 66.25% equities of Beijing BOE

Investment & Development Co. Ltd. and was its controlling shareholder.

3. 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.

4. After the non-public issuing of the Company in 2014 Beijing State-owned Capital

Operation and Management Company Limited handed over 70% of the shares directly

held by it to Beijing Electronics Holdings Co. Ltd. for management through Stock

Management Protocol and Beijing Electronics Holdings Co. Ltd. gained the incidental

shareholders’ rights except for disposing right and usufruct of the shares of which the

Related or acting-in-concert parties among the rest 30% voting right maintained unanimous with Beijing Electronics Holdings Co. Ltd.shareholders above through the agreement according to Implementation Protocol of Voting Right.

5. During the non-public issuing of the Company in 2021 Beijing Jing Guorui Soe

Reform and Development Fund (L.P.) signed the Acting-in-Concert Agreement with

Beijing Electronics Holdings Co. Ltd.

6. 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 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.

7. 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 Ningxia Risheng High-tech Industry Co. Ltd. held 296442066 shares

in the Company via its credit securities account and shareholder Xu Lili held

266458492 shares in the Company via her credit securities account.

2. The shares held by Shareholder Fuqing Huirong Venture Capital Co. Ltd. in the

Company increase by 3484700 shares due to securities refinancing.Shareholders involved in securities margin 3. Shareholders Beijing State-owned Capital Operation and Management Company

trading (if any) Limited Beijing BOE Investment & Development Co. Ltd. Beijing Jing Guorui SOE

Reform and Development Fund (L.P.) Hefei Jianxiang Investment Co. Ltd. Beijing

Electronics Holdings Co. Ltd. and Sinatay Life Insurance Co. Ltd.-Traditional Product

were not involved in securities refinancing.

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

shareholder who was involved in securities refinancing.

4. Change of the Controlling Shareholder or the Actual Controller in the Reporting Period

Change of the controlling shareholder in the Reporting Period:

□ Applicable □ Not applicable

3BOE Technology Group Co. Ltd. Interim Report 2023 (Summary)

The controlling shareholder remained the same in the Reporting Period.Change of the actual controller in the Reporting Period:

□ Applicable □ Not applicable

The actual controller remained the same in the Reporting Period.

5. Number of Preferred Shareholders and Shareholdings of Top 10 of Them

□ Applicable □ Not applicable

No preferred shareholders in the Reporting Period.

6. Outstanding Bonds at the Date when this Report Was Authorized for Issue

□ Applicable □ Not applicable

(1) Bond Profile

Balance

Coupon

Bond name Abbr. Bond code Date of issue Maturity (RMB’000

rate

0)

2022 Public Offering of

Renewable Corporate

Bonds of BOE (for

22BOEY1 149861 24 March 2022 25 March 2025 200000 3.50%

professional investors)

(Digital Economy)

(Phase I)

(2) Relevant Financial Information as of the End of the Reporting Period

Unit: RMB'0000

Item 30 June 2023 31 December 2022

Debt/asset ratio 52.61% 51.96%

Item H1 2023 H1 2022

EBITDA-to-interest cover (times) 8.24 14.19

Part III Significant Events

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. Among them the redeemed and delisted bonds are detailed in the table below:

Redemption

Bond

Bond name Abbr. Date of issue Maturity and delisting Disclosure index

code

date

2019 Public Offering of

Renewable Corporate Bonds of 28 October 29 October 31 October

19BOEY1 112741

BOE (for qualified investors) 2019 2022 2022

(Phase I) www.cninfo.com.cn

2020 Public Offering of

27 February 28 February 28 February

Renewable Corporate Bonds of 20BOEY1 149046

202020232023

BOE (for qualified investors)

4BOE Technology Group Co. Ltd. Interim Report 2023 (Summary)

(Phase I) (epidemic prevention and

control bonds)

2020 Public Offering of

Renewable Corporate Bonds of

20 March

BOE (for qualified investors) 20BOEY2 149065 18 March 2020 19 March 2023

2023

(Phase II) (epidemic prevention

and control bonds)

2020 Public Offering of

Renewable Corporate Bonds of

BOE (for qualified investors) 20BOEY3 149108 24 April 2020 27 April 2023 27 April 2023

(Phase III) (epidemic prevention

and control bonds)

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. 2023-010) on 23 March 2023. The

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

2. On 16 January 2021 the Company disclosed the Announcement on the Resolution of the 21st Meeting of the 9th Board of Directors

(Announcement No. 2021-001) and the Plan for Non-Public Offering of A-Shares in 2021 and other related announcements in which

the Company intends to make a non-public offering of A-shares to no more than 35 specific investors including Jing Guorui Fund. The

net fund raised was expected to be no more than RMB20 billion. On 19 August 2021 the Company disclosed the Report on the Non-

public Offering of A-shares by BOE Technology Group Co. Ltd. & the Announcement on the Listing of these Shares (announcement

No. 2021-058) along with other relevant announcements. 3650377019 new shares were issued in the non-public offering which

were listed on the Shenzhen Stock Exchange on 20 August 2021. The Company disclosed the Suggestive Announcement on Relieving

Restricted Non-publicly Offered A Shares in 2021 (Announcement No.: 2023-004) on 17 February 2023. A total of 718132854

restricted shares of the Company's non-publicly offered A shares in 2021 were relieved on 20 February 2023 and could be traded on

the market thereafter. The number of the relieved restricted shares accounted for 1.9324% of the Company's non-restricted shares and

1.8801% of the Company's total share capital.

3. The Company disclosed the Announcement on Resignation of Senior Management (Announcement No.: 2023-006) on 2 March 2023

due to the change of work Mr. Miao Chuanbin applied for resignation as Senior Vice President and Chief Culture Officer and will not

hold any position in the Company after his resignation. The Company disclosed the Announcement on Resignation of Senior

Management (Announcement No.: 2023-013) on 1 April 2023 due to personal reasons Mr. Xie Zhongdong applied for resignation as

Senior Vice President Chief Audit Officer and Chief Risk Control Officer and will not hold any position in the Company after his

resignation. The Company disclosed the Announcement of Resolutions of the 13th Meeting of the 10th Board of Directors

(Announcement No.: 2023-014) on 4 April 2023 at the 13th Meeting of the 10th Board of Directors the Company considered and

approved the Proposal on the Appointment of Senior Management of the Company and Adjustment of the Composition of the Executive

Committee of the Company the Board of Directors appointed Mr. Feng Qiang as a member of the Executive Committee and Executive

Vice President Mr. Guo Huaping as Senior Vice President and Chief Cultural Officer; and to adjust the current senior management of

the Company Ms. Yang Xiaoping from Senior Vice President and Chief Financial Officer to a member of the Executive Committee

Executive Vice President and Chief Financial Officer. [The Company disclosed the Announcement of Resolutions of the 15th Meeting

of the 10th Board of Directors (Announcement No.: 2023-028) on 29 April 2023. At the 15th Meeting of the 10th Board of Directors

of the Company the Proposal on the Appointment of Senior Management of the Company was reviewed and approved and the Board

of Directors appointed Mr. Yue Zhanqiu as Senior Vice President and Chief Audit Officer of the Company.]

4. 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

5BOE Technology Group Co. Ltd. Interim Report 2023 (Summary)

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.

5. On 31 May 2023 the Company disclosed the Announcement No. 2023-034 on the Distribution of the 2022 Final Dividend. As the

2022 Final Dividend Plan had been approved at the 2022 Annual General Meeting on 5 May 2023 the Company distributed a 2022

final dividend of RMB0.61 per 10 shares (dividend to B-shareholders paid in HKD according to the central parity rate of RMB and

HKD declared by the People’s Bank of China on the first working day immediately after the date of the relevant general meeting

resolution) with no bonus issue from either profit or capital reserves.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

Chairman of the Board (signature): Mr. Chen Yanshun

Date of the Board’s approval of this Report: 25 August 2023

6