INTERIM REPORT 2025
August 2025
1BOE Technology Group Co. Ltd. Interim Report 2025
Part I Important Notes Table of Contents and Definitions
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.Mr. Chen Yanshun the Company’s legal representative Mr. Feng Qiang Chairman of the
Executive Committee Ms. Yang Xiaoping Chief Financial Officer and Ms. Xu Yaxiao head
of the financial department (equivalent to financial manager) hereby guarantee that the
Financial Statements carried in this Report are factual accurate and complete.All the Company’s directors have attended the Board meeting for the review of this Report
and its summary.Any plans for the future development strategies and other forward-looking statements
mentioned in this Report and its summary shall NOT be considered as absolute promises of
the Company to investors. Therefore investors are reminded to exercise caution whenmaking investment decisions. For further information see “(X) Risks Facing the Companyand Countermeasures” in Part III herein.The Company has no interim dividend plan either in the form of cash or stock.This Report and its summary have been prepared in Chinese and translated into English.Should there be any discrepancies or misunderstandings between the two versions the
Chinese versions shall prevail.
2BOE Technology Group Co. Ltd. Interim Report 2025
Table of Contents
Part I Important Notes Table of Contents and Defin... 2
Part II Corporate Information and Key Financial In... 7
Part III Management Discussion and Analysis..........10
Part IV Environmental Social and Governance Inform.. 29
Part V Significant Events............................34
Part VI Share Changes and Shareholder Information... 47
Part VII Bonds.......................................55
Part VIII Financial Statements...................... 59
Part IX Other Reported Information..................249
3BOE Technology Group Co. Ltd. Interim Report 2025
Documents Available for Reference
(I) The financial statements signed and sealed by the Company’s legal representative Chairman of the Executive Committee Chief
Financial Officer and head of the financial department (equivalent to financial manager); and
(II) The originals of all the documents and announcements that the Company disclosed on www.cninfo.com.cn during the Reporting
Period.All the above mentioned documents are available at the Board Secretary’s Office of the Company.Chairman of the Board (signature): Mr. Chen Yanshun
Date of the Board’s approval of this Report: 26 August 2025
4BOE Technology Group Co. Ltd. Interim Report 2025
Definitions
Term Definition
BOE Technology Group Co. Ltd. and its consolidated subsidiaries except
“BOE” the “Company” the “Group” or “we”
where the context otherwise requires
The cninfo website http://www.cninfo.com.cn/
CSRC The China Securities Regulatory Commission
SZSE the Stock Exchange The Shenzhen Stock Exchange
The Company Law The Company Law of the People’s Republic of China
The Securities Law The Securities Law of the People’s Republic of China
Guideline No. 1 of the Shenzhen Stock Exchange Regarding Self-
The Compliance in Operation of Main Board Listed
disciplinary Activities and Regulation of Listed Companies—Compliance
Companies
in Operation of Main Board Listed Companies
The Articles of Association The Articles of Association of BOE Technology Group Co. Ltd.BOE Varitronix BOE Varitronix Limited
Suzhou Sensor Suzhou BOE Sensor Technology Co. Ltd.UPTC UPTC (Beijing) Technology Co. Ltd.Zhongxiangying Beijing Zhongxiangying Technology Co. Ltd.
3D Three Dimensions
4K 4K resolution (3840 × 2160 pixels)
4K-H 4K- High Transmittance
8K 8K resolution (7680 × 4320 pixels)
ADM AI Defect Management
ADS Pro One of BOE's three major technology brands
AI Artificial Intelligence
AMOLED Active-matrix Organic Light Emitting Diode
AYM AI Yield Management
BSEOS BOE Smart Energy Operation System
C100/B3/E3 BOE Smart All-in-One Models
CES International Consumer Electronics Show
DIA Display Industry Awards
DIC Display Innovation China
ESL Electronic Shelf Label
FDC Full Display with Camera
f-OLED One of BOE's three major technology brands
FPXD Flat Panel X-Ray Detector
G.3 Generation 3.0
Standard ITU-TH.629.1: Scenarios Framework and Metadata for
H.629.1 Digitalized Artwork Images Display System approved by the International
Telecommunication Union
Smart cockpit innovation scenarios covering Healthiness Entertainment
HERO
Relaxation and Office
ICDT International Conference on Display Technology
IFI IFI Claims
IGZTO Indium Gallium Zinc Tin Oxide
IoT Internet of Things
LCD Liquid Crystal Display
LED Light-emitting Diode
LTPS Low Temperature Poly-Silicon
Microdisplay A display technology
Mini/Micro LED Sub-millimetre/micro light-emitting diode
MLED Mini/Micro LED
MPD Micro-Pixel Device
OLED Organic Light Emitting Diode
Oxide Oxide thin film transistor technology
5BOE Technology Group Co. Ltd. Interim Report 2025
PCA People's Choice Awards
PCT Patent Cooperation Treaty
PPI Pixels Per Inch
SID The Society for Information Display
TFT-LCD Thin Film Transistor Liquid Crystal Display
TSV Through Silicon Via
TV Television
UB Cell Natural and realistic display as Ultra Black Ultra Bright Ultra Brilliant
WIPO World Intellectual Property Organization
α-MLED One of BOE's three major technology brands
6BOE Technology Group Co. Ltd. Interim Report 2025
Part II Corporate Information and Key Financial Information
I Corporate Information
Stock name BOE-A BOE-B Stock code 000725 200725
Changed stock name (if any) N/A
Stock exchange for stock listing Shenzhen Stock Exchange
Company name in Chinese 京东方科技集团股份有限公司
Abbr. (if any) 京东方
Company name in English (if any) BOE TECHNOLOGYGROUP CO. LTD.Abbr. (if any) BOE
Legal representative Chen Yanshun
II Contact Information
Item Board Secretary Securities Representative
Name Guo Hong Luo Wenjie
12 Xihuan Middle Road Beijing Economic- 12 Xihuan Middle Road Beijing Economic-
Address
Technological Development Area Beijing P.R.China Technological Development Area Beijing P.R.China
Tel. 010-60965555 010-60965555
Fax 010-64366264 010-64366264
Email address guohong@boe.com.cn luowenjie@boe.com.cn
III Other Information
1. Contact Information of the Company
Indicate by tick mark whether any change occurred to the registered address office address and their zip codes website address
email address and other contact information of the Company in the Reporting Period.□ Applicable□ Not applicable
No change occurred to the said information in the Reporting Period which can be found in the 2024 Annual Report.
2. Media for Information Disclosure and Place where this Report is Lodged
Indicate by tick mark whether any change occurred to the information disclosure media and the place for keeping the Company’s
periodic reports in the Reporting Period.□ Applicable□ Not applicable
The website of the stock exchange the media and other website where the Company’s periodic reports are disclosed as well as the
place for keeping such reports did not change in the Reporting Period. The said information can be found in the 2024 Annual
7BOE Technology Group Co. Ltd. Interim Report 2025
Report.
3. Other Information
Indicate by tick mark whether any change occurred to other information in the Reporting Period.□Applicable □ Not applicable
The Company disclosed the Announcement on Change of Investor Contact Number (Announcement No. 2025-059) on 14 August
2025. In accordance with work needs and to further improve investor relations management the Company’s investor contact
number has been changed to “010-60965555”.IV Key Financial Information
Indicate by tick mark whether there is any retrospectively restated datum in the table below.□ Yes□ No
Item H1 2025 H1 2024 Change (%)
Operating revenue (RMB) 101278182135.00 93386241632.00 8.45%
Net profit attributable to the listed company’s shareholders (RMB) 3246885779.00 2284051354.00 42.15%
Net profit attributable to the listed company’s shareholders before
2282236531.001613403381.0041.45%
exceptional gains and losses (RMB)
Net cash generated from/used in operating activities (RMB) 22736307086.00 24878969292.00 -8.61%
Basic earnings per share (RMB/share) 0.09 0.06 50.00%
Diluted earnings per share (RMB/share) 0.09 0.06 50.00%
Weighted average return on equity (%) 2.45% 1.75% 0.70%
Item 30 June 2025 31 December 2024 Change (%)
Total assets (RMB) 425801431370.00 429978221541.00 -0.97%
Equity attributable to the listed company’s shareholders (RMB) 132991322618.00 132937555308.00 0.04%
V Accounting Data Differences under China’s Accounting Standards for Business
Enterprises (CAS) and International Financial Reporting Standards (IFRS) and Foreign
Accounting Standards
1. Net Profit and Net Asset Differences under CAS and IFRS
□Applicable□ Not applicable
No such differences for the Reporting Period.
2. Net Profit and Net Asset Differences under CAS and Foreign Accounting Standards
□Applicable□ Not applicable
No such differences for the Reporting Period.
8BOE Technology Group Co. Ltd. Interim Report 2025
VI Exceptional Gains and Losses
□Applicable □ Not applicable
Unit: RMB
Item Amount Note
Gain or loss on disposal of non-current assets (inclusive of impairment allowance write-offs) 519913169.00 N/A
Government grants recognized in profit or loss (exclusive of those that are closely related to the
Company's normal business operations and given in accordance with defined criteria and in
696943132.00 N/A
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 (exclusive of the effective 88554525.00 N/A
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 gains and losses 0.00 N/A
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 individually for
229820.00 N/A
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 fair value of identifiable net 0.00 N/A
assets of investees when making investments
Current gains and losses on subsidiaries acquired through business mergers under same control
0.00 N/A
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 as expenses for
0.00 N/A
employee arrangements
One-time effect on profit or loss due to adjustments in tax accounting and other laws and
0.00 N/A
regulations
One-time share-based payments recognized due to cancellation and modification of equity
0.00 N/A
incentive plans
Gain or loss on changes in the fair value of employee benefits payable after the vesting date for
0.00 N/A
cash-settled share-based payments
Gain or loss on fair-value changes in investment property of which subsequent measurement is
0.00 N/A
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 operations 0.00 N/A
Income from charges on entrusted management 0.00 N/A
Non-operating income and expense other than the above 122700862.00 N/A
Other gains and losses that meet the definition of exceptional gain/loss 0.00 N/A
Less: Income tax effects 289306037.00 N/A
Non-controlling interests effects (net of tax) 174386223.00 N/A
Total 964649248.00
Particulars about other gains and losses that meet the definition of exceptional gain/loss:
□ Applicable□ Not applicable
No such cases for 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
9BOE Technology Group Co. Ltd. Interim Report 2025
No such cases for the Reporting Period.
10BOE Technology Group Co. Ltd. Interim Report 2025
Part III Management Discussion and Analysis
I Principal Operations of the Company in the Reporting Period
(I) About the Company
In constant pursuit of excellence BOE Technology Group Co. Ltd. is an innovative IoT company dedicated to providing
intelligent interface products and professional services for information interaction and human health.With “To Be the Most Respected Company on Earth” as its vision and BOE always keeps in mind the mission of “Change Lifewith BOE Display Everywhere” upholds the core values of “Integrity & Reliability Dedication to Customers Being People-oriented Openness and Innovation” as well as adheres to the business philosophy of “Doing the Right Thing Innovation andProgress Seeking”. In pursuit of high-quality development the Company has been forging ahead through innovation promoting
reasonable growth in quantity and effective improvement in quality as well as accelerating the realization of high-level
collaboration. Upon decades of relentless efforts BOE has grown into a world leader in the semiconductor display industry and a
global innovative company in the IoT sector. At present it has a significant number of intelligent manufacturing bases in Beijing
Hefei Chengdu Chongqing Fuzhou Mianyang Wuhan Kunming Ordos etc. with subsidiaries across many countries and
regions including the United States Germany Japan South Korea Singapore India Brazil and the United Arab Emirates as well
as a service system that covers major regions of the world such as Europe Americas Asia and Africa.Adhering to a “market-oriented international and professional” development approach the Company keeps in mind the people-
oriented principle drives continuous innovations in an intelligent and IoT-based era as well as provides customers with better
products and more thoughtful service experience with its well-established global network and a diverse product and service system.To embrace the development trends of the industry BOE has put in place a development architecture of "1+4+N+Ecosystem"
among which:
"1" represents semiconductor display which is the core capacity and quality resources accumulated by BOE as well as the source
and origin of the Company's development."4" is a high-potential channel and direction of development selected based on BOE's core competence and value chain extension
as well as the four main fronts of the Company's IoT development namely the IoT Innovation business the Sensor business the
MLED business and the Smart Engineering Medicine business."N" refers to the subdivided application scenarios of IoT that are continuously explored and cultivated by BOE as well as the
specific focus of the Company's IoT development.“Ecosystem” is an industrial ecological development circle constructed by the Company in collaboration with many partners and
by aggregating the resources of the industrial chain and ecosystem chain.(II) About the Company’s principal operations
1. The Display Devices business
The Display Devices business offers integrated design and manufacturing services for devices and is committed to providing
interface devices applying TFT-LCD AMOLED and other technologies focusing on providing customers with high-quality display
devices for smartphones tablet PCs laptops monitors TVs vehicles etc.
2. The IoT Innovation business
The IoT Innovation business offers integrated design and manufacturing services for system solutions and provides customers with
competitive smart terminal products for TVs monitors laptops tablets low-power devices IoT 3D display etc. By integrating AI
and big data capabilities BOE provides innovative IoT products and services that combine software and hardware.
3. The Sensor business
11BOE Technology Group Co. Ltd. Interim Report 2025
The Sensor business offers integrated design and manufacturing solutions focuses on FPXD smart display windows MEMS
industrial sensors and glass packaging substrates and provides customers with products and services including back plates for flat
panel X-ray detectors (FPXD) intelligent PDLC windows and PDLC system solutions consumer electronics and industrial
application solutions and advanced packaging among others.
4. The MLED business
The MLED business provides LED solutions with integrated R&D manufacturing and marketing services. Focused on devices and
solutions this business renders LED backlight products with high quality and reliability for TVs monitors notebooks vehicles etc.as well as Mini/Micro-LED display products with high brightness high reliability and high contrast for segment markets of outdoor
commercial transparent specialized and other displays.
5. The Smart Engineering Medicine business
The Smart Engineering Medicine business adopts a professional service model to provide products services and solutions in relation
to medical care smart nursing medical-engineering integration etc. Meanwhile this business is committed to providing a closed
loop of through-life health services with health management as the core medical terminals as the traction and digital hospitals and
recreational communities as the support. It connects testing equipment healthcare workers and customers through the smart health
management ecosystem where customers enjoy professional health services including prevention treatment therapy and nursing.
6. The “N” business
With a specific focus on the "N" business the Company provides hardware and software integrated system solutions for different
segments including intelligent car networking smart energy industrial IoT UHD display etc. which can provide customers with
multi-functional and smart new experience under IoT scenarios.In terms of intelligent car networking BOE focuses on the intelligent cockpit "HERO" innovative application scenarios joins
hands with global partners to provide new experience of intelligent cockpit scenarios and promotes the continuous upgrading of
full-scenario intelligent solutions representing a new leading ecosystem of innovative and intelligent travel.In terms of the smart energy business BOE focuses on zero-carbon integrated energy services. With BSEOS as the empowering
platform it revolves around various aspects of "source-grid-load-storage-carbon." It offers a zero-carbon implementation path of
"source decarbonization process decarbonization end negative carbon and intelligent carbon management" providing customers
with comprehensive energy services and utilization and zero-carbon solutions.In terms of the industrial internet business BOE is committed to providing industrial software intelligent manufacturing solutions
for the pan-semiconductor industry. Leveraging over three decades of industry experience BOE offers pan-semiconductor
industrial software smart factory services industrial AI and other products and services continuously driving high-quality
development across the industry.The ultra-high-definition display business has entered a new development stage with key ultra-high-definition technologies driving
the industrial chain of ultra-high-definition front-end capture transmission distribution and terminal display connecting the 8K
ultra-high-definition video industry content production chain and promoting the application of ultra-high-definition in smart
governments and enterprises smart transportation visual arts smart finance smart industrial parks and other digital scenarios.II Core Competitiveness Analysis
1. Further strengthening industry-leading market advantage with the customer-oriented approach
In alignment with the trends of digitalization and intelligence in industrial development the Company continuously remains
customer-oriented seizes market development opportunities actively responds to customer need actively expands global markets
based on existing businesses lays out emerging markets in a forward-looking manner consistently reinforces its leading position in
the market and explores new business growth points.In the first half of 2025 BOE continued to reinforce its leading edge in the semiconductor display field continuously optimized the
product mix in the LCD sector with stable breakthroughs in advantageous high-end flagship products; the shipment volume of
12BOE Technology Group Co. Ltd. Interim Report 2025
flexible OLED products increased further and various brand-first products were launched.The Company persistently adheres to innovative development with emerging achievements in various segmented markets. Overseas
expansion of smart terminals accelerated with the ahead-of-schedule mass production of phase two of the smart terminal project in
Vietnam further speeding up the global IoT innovation ecosystem layout and IoT terminal markets overseas continued to make
breakthroughs. The MLED direct display business continued to expand its market partnering with Shanghai Film Group to launch
several Super α super theater benchmark projects. The comprehensive competitiveness of the backlight business was further
enhanced securing multiple leading brand clients. As for the Sensor business the construction of the glass-based advanced
packaging test line accelerated. The multi-model product line of Suzhou Sensor entered mass production. The smart windows
business expanded into automotive applications winning market acclaim. The FPXD key project "High Mobility IGZTO Detector
Development" of the Ministry of Science and Technology completed product release. The digital hospital continued to enhance its
core capabilities with steady growth in both total outpatient visits and discharged patients demonstrating significant improvement in
operational quality. Hefei Hospital innovatively developed specialty services and was elected as the "Standing Director Unit of the
Anhui Tumor Ultrasound Alliance". The smart nursing business won the "New Productive Force Model Case Award" and was
shortlisted for the Global Construction Design "BRICs Award" further enhancing its industry influence.In the Company's "N" business BOE Varitronix Limited steadily explored overseas markets and continued to expand system and
innovative business. BOE Energy Technology published and co-authored two national standards in the first half of the year and
received three certifications from national authoritative institutions. Zhongxiangying completed the delivery of the 12-inch wafer-
level TSV 3D integration production line information technology construction project significantly improving core competitiveness.UPTC further focused on products with digital display products widely applied in exhibition halls and government-business
scenarios. The second-stage transmission and broadcasting terminal R&D made breakthroughs maintaining national leadership. The
smart transportation screen industry launched the first broadcast-control integrated display architecture.
2. Leading by innovation and forging excellent technological product abilities
The Company is committed to being led by innovation constructing a comprehensive innovation ecosystem and pragmatically
advancing the rapid development of key innovation platforms in semiconductor displays IoT innovation and sensor devices. The
Company comprehensively builds a technology architecture of "Empower IoT with Display" including device layer terminal layer
platform layer and application layer creating three major technological brands: ADS Pro f-OLED and α-MLED. With a systematic
technological innovation capability that integrates software and hardware provides key support for the value extension of its "device
- terminal - scenario".In terms of technology and products in the display device field LCD technology has accelerated the upgrade of UB Cell Oxide and
LTPS technologies. BOE's global launch of the highest 2117 PPI VR received the 2025 SID PCA Award. The 4K-H UB Cell G.3
won the 2025 ICDT Best Innovative Display Gold Award. Display technology continues to upgrade with OLED continuing
innovation breaking through the smallest OLED size and obtaining customer mass production authorization. The automotive spliced
slide-roll screen won the CES Innovation Awards 2025 Honoree. Picture quality further improved with the Red Magic 10 ProFDC
receiving the SID 2025 DIA Annual Display Industrialization Technology Award. In the MLED field the MPD P0.6 dual-side
screen product won the "Best of Show Awards" at InfoComm USA 2025. In the 3D display field the 16-inch 3D education all-in-one
machine was released. To adapt to the trends of the intelligent era the Company places great importance on the integration of AI
technology with products comprehensively creating multi-mode product innovations of "device - complete machine - system"
enhancing technological and product innovation and upgrade. Among them the autostereoscopic 3D laptop powered by BOE has
been delivered to clients. With its industry-leading AI + display application dynamic intertwining autostereoscopic 3D display
solution it won the DIC AWARD 2025 Display Application Innovation Award. The AI TV prototype was showcased at SID 2025
and products such as the Smart All-in-One C100/B3/E3 were equipped with BOE's intelligent office system contributing to
breakthroughs in multiple scenario markets. BOE's autostereoscopic 3D AIGC content generation and display platform won the
CDIA 2025 Best Display Application Product Award Gold Prize.Regarding patents the Company continuously strengthens its high-quality patent layout with over 4000 new patent applications in
the first half of the year including over 90% invention patents and over 30% overseas patents. More than 2000 patent applications
13BOE Technology Group Co. Ltd. Interim Report 2025
were filed in flexible OLEDs sensors artificial intelligence and big data accounting for over 50%. BOE's technological innovation
prowess has been repeatedly recognized entering the global TOP20 in the IFI U.S. patent authorization ranking for seven
consecutive years and the global TOP10 in WIPO's global PCT patent application for nine consecutive years; and included in
Clarivate's Top 100 Global Innovators for four years in a row and ranked TOP12 further demonstrating BOE's innovation strength
and technological leadership.
3. Enhancing lean management and governance system with digital empowerment
The Company persists in enhancing its lean management approach focusing on strategic resource investments and establishing a
streamlined digitalized standardized and process-driven operational structure.In terms of operational management it keeps improving the platform-based organisational design and adheres to the operational
management system of "three offices and three managements". The Company combines the organisational mechanism of an agile
front office an intensive middle office and an efficient back office with key measures such as strategy procedures and performance
to continuously strengthen the coordinated operation of the three offices and increase the Company's operational efficiency. Under
the "three offices and three managements" operational framework the Company piloted a "Platform + Team" model—a matrixed
management style where "Teams lead engagements while Platforms handle infrastructure." This method reinforces customer-centric
management balances responsibilities and rights fosters internal synergy and facilitates the high-quality operation of the Company.In terms of digital transformation the Company has fortified its digital processes advanced online process digitization and digital
operations and continued to promote the construction of "one digital and visible BOE" with digital transformation projects as breach
so as to strengthen process efficiency improvement and value creation. Based on five major capability platforms - solution capability
platform development technology platform data platform secure operation platform and cloud infrastructure platform the
Company deeply advances the construction of a digital technology foundation. It firmly centres around product and technology
leadership strategies platform strategies standardization strategies and steadily achieves milestones in major digital projects
progressing steadily in digital transformation.Additionally to further deepen lean management the Company actively promotes the deep integration of AI technology with
production operations continuously strengthening its core competitive advantages. In the AI+ manufacturing field the Company has
built a BOE Display Industry large model and the related practices won the "Top 10 Digital Empowerment Cases of National
Enterprises 2025". Additionally leveraging the large model's capabilities BOE has implemented several industry-leading practices
in key AI application systems: The AI defect management system (ADM) has significantly improved the iteration of defect models
on production lines and the efficiency of the detection system's launch; the AI yield management system (AYM) has achieved
industry-leading attribution analysis accuracy for typical defects effectively consolidating the Company's competitiveness in display
manufacturing; in the AI+ operations field progress has been made in multiple areas such as market insights integrated supply and
business management with key intelligent projects advancing significantly.III Analysis of Core Businesses
Overview:
See contents under the heading “I Principal Operations of the Company in the Reporting Period” above.Year-on-year changes in key financial data:
Unit: RMB
Item H1 2025 H1 2024 Change (%) Main reason for change
Operating revenue 101278182135.00 93386241632.00 8.45% N/A
Cost of sales 86687428435.00 79425510143.00 9.14% N/A
Selling expense 901999798.00 913914623.00 -1.30% N/A
Administrative expense 2845176749.00 2833605971.00 0.41% N/A
14BOE Technology Group Co. Ltd. Interim Report 2025
Decreased net exchange gains in the
Finance costs 713453496.00 295442333.00 141.49%
Reporting Period
Temporary differences of assets in
Income tax expense 1191720067.00 508068093.00 134.56%
the Reporting Period
R&D investments 6081989348.00 5842590541.00 4.10% N/A
Net cash generated
from/used in operating 22736307086.00 24878969292.00 -8.61% N/A
activities
Net cash generated Increase in cash paid for the
from/used in investing -21225275652.00 -15514054444.00 -36.81% acquisition and construction of long-
activities term assets in the Reporting Period
Decreased cash inflows from
Net cash generated
borrowings received and the payment
from/used in financing -13762514815.00 -3824920788.00 -259.81%
for external capital reduction in the
activities
Reporting Period
Increase in cash paid for the
Net increase in cash and acquisition and construction of long-
-12195899245.005863820613.00-307.99%
cash equivalents term assets and external capital
reduction in the Reporting Period
Material changes to the profit structure or sources of the Company in the Reporting Period:
□ Applicable□ Not applicable
No such changes in the Reporting Period.Breakdown of operating revenue:
Unit: RMB
H1 2025 H1 2024
Item As % of total As % of total Change
Operating revenue operating revenue Operating revenue operating revenue (%)
(%)(%)
Total 101278182135.00 100% 93386241632.00 100% 8.45%
By operating division
Display Devices business 84332237426.00 83.27% 78013141508.00 83.54% 8.10%
IoT Innovation business 18191101534.00 17.96% 17155911452.00 18.37% 6.03%
Sensor business 223580565.00 0.22% 163437762.00 0.18% 36.80%
MLED business 4346566103.00 4.29% 4033466005.00 4.32% 7.76%
Smart Engineering
917485725.000.91%903706724.000.97%1.52%
Medicine business
Other business and offset
-6732789218.00-6.65%-6883421819.00-7.38%-2.19%
among segments
By product category
Display Devices business 84332237426.00 83.27% 78013141508.00 83.54% 8.10%
IoT Innovation business 18191101534.00 17.96% 17155911452.00 18.37% 6.03%
Sensor business 223580565.00 0.22% 163437762.00 0.18% 36.80%
MLED business 4346566103.00 4.29% 4033466005.00 4.32% 7.76%
Smart Engineering
917485725.000.91%903706724.000.97%1.52%
Medicine business
Other business and offset
-6732789218.00-6.65%-6883421819.00-7.38%-2.19%
among segments
By operating segment
Mainland China 49719622119.00 49.09% 49668918111.00 53.19% 0.10%
Other regions 51558560016.00 50.91% 43717323521.00 46.81% 17.94%
Operating division product category or operating segment contributing over 10% of operating revenue or operating profit:
15BOE Technology Group Co. Ltd. Interim Report 2025
□Applicable □ Not applicable
Unit: RMB
YoY
YoY
YoY change in
Gross change in
change in gross
Item Operating revenue Cost of sales profit operating
cost of profit
margin revenue
sales (%) margin
(%)
(%)
By operating division
Display Devices
84332237426.0073876234378.0012.40%8.10%8.47%-0.30%
business
IoT Innovation
18191101534.0016174169408.0011.09%6.03%5.15%0.75%
business
By product category
Display Devices
84332237426.0073876234378.0012.40%8.10%8.47%-0.30%
business
IoT Innovation
18191101534.0016174169408.0011.09%6.03%5.15%0.75%
business
By operating segment
Mainland China 49719622119.00 43135297954.00 13.24% 0.10% 2.93% -2.39%
Other regions 51558560016.00 43552130481.00 15.53% 17.94% 16.08% 1.35%
Core business data of the prior year restated according to the changed statistical caliber for the Reporting Period:
□ Applicable□ Not applicable
IV Analysis of Non-Core Businesses
□Applicable □ Not applicable
Unit: RMB
Item RecurrentAmount As % of total profit Main source/reason
or not
Return on Income from the disposal of long-term equity
436619926.00 10.34% Not
investment investments in the Reporting Period
Gain/loss on
70061558.00 1.66% N/A Not
changes in fair value
Inventory valuation allowances established
Asset impairments -1160839005.00 -27.50% Not
based on market conditions
Non-operating
137166225.00 3.25% N/A Not
income
Non-operating
15969932.00 0.38% N/A Not
expense
V Analysis of Assets and Liabilities
1. Material Changes in Asset Composition
16BOE Technology Group Co. Ltd. Interim Report 2025
Unit: RMB
30 June 2025 31 December 2024
Change in Reason for any
Item As a % of As a % of percentage significant
Amount total Amount total (%) change
assets assets
Monetary assets 66346438193.00 15.58% 74252625215.00 17.27% -1.69% N/A
Accounts receivable 36313963961.00 8.53% 36338199204.00 8.45% 0.08% N/A
Contract assets 183174968.00 0.04% 150871486.00 0.04% 0.00% N/A
Inventories 27350631840.00 6.42% 23313464392.00 5.42% 1.00% N/A
Investment property 1706232280.00 0.40% 1751189740.00 0.41% -0.01% N/A
Long-term equity
12761666972.00 3.00% 13533271302.00 3.15% -0.15% N/A
investments
Fixed assets 190725637780.00 44.79% 204904419511.00 47.65% -2.86% N/A
Increased
investment in
Construction in new
47133068984.0011.07%30159016097.007.01%4.06%
progress constructions in
the Reporting
Period
Right-of-use assets 701616701.00 0.16% 754408280.00 0.18% -0.02% N/A
Short-term
1832622693.00 0.43% 1563317166.00 0.36% 0.07% N/A
borrowings
Contract liabilities 1848321535.00 0.43% 2083836158.00 0.48% -0.05% N/A
Long-term
99937621089.00 23.47% 100932391740.00 23.47% 0.00% N/A
borrowings
Lease liabilities 610997708.00 0.14% 631418986.00 0.15% -0.01% N/A
17BOE Technology Group Co. Ltd. Interim Report 2025
2. Major Assets Overseas
□Applicable□ Not applicable
3. Assets and Liabilities at Fair Value
□Applicable □ Not applicable
Unit: RMB
Gain/loss on fair- Cumulative fair- Impairment
Purchased in the Sold in the
Item Beginning amount value changes in the value changes allowance for the Other changes Ending amount
Reporting Period Reporting Period
Reporting Period charged to equity Reporting Period
Financial assets
1. Held-for-trading financial
assets (excluding derivative 3116435963.00 70061558.00 0.00 0.00 12763999990.00 13625065190.00 0.00 2329473453.00
financial assets)
2.Derivative financial assets 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
3. Investments in other debt
0.000.000.000.000.000.000.000.00
obligations
4. Investments in other
441371815.000.00-162379412.000.000.007442284.000.00499300051.00
equity instruments
5. Other non-current
2735680042.000.000.000.0058554052.000.000.002794234094.00
financial assets
Subtotal of financial assets 6293487820.00 70061558.00 -162379412.00 0.00 12822554042.00 13632507474.00 0.00 5623007598.00
Investment property 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Productive living assets 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Others 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Receivable financing 472537400.00 0.00 0.00 0.00 0.00 0.00 -69554131.00 402983269.00
Total of the above 6766025220.00 70061558.00 -162379412.00 0.00 12822554042.00 13632507474.00 -69554131.00 6025990867.00
Financial liabilities 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Contents of other changes: N/A
Significant changes to the measurement attributes of the major assets in the Reporting Period:
□ Yes□ No
18BOE Technology Group Co. Ltd. Interim Report 2025
4. Restricted Asset Rights as at the Period-End
Unit: RMB
Item Ending carrying value Reason for restriction
Monetary assets 1266717604.00 Mainly security deposits and amounts put in pledge for the issuanceof notes payable
288681130.00 Endorsed and transferred with right of recourse and those put inNotes receivable pledge for the issuance of notes payable
Fixed assets 111614048947.00 As collateral for guarantee
Intangible assets 1890836908.00 As collateral for guarantee
Construction in progress 16900999499.00 As collateral for guarantee
Investment property 212273670.00 As collateral for guarantee
Other non-current assets 107189009.00 For other reasons
Accounts Receivable 585179844.00 Pledge is used to borrow money
Total 132865926611.00 --
VI Investments Made
1. Total Investments Made
□ Applicable □ Not applicable
Investments made in this Reporting Investments made in the same period of
Change（%）
Period (RMB) last year (RMB)
494298659.00238575152.00107.19%
2. Significant Equity Investments Made in the Reporting Period
□Applicable□ Not applicable
3. Significant Non-Equity Investments Ongoing in the Reporting Period
□Applicable□ Not applicable
19BOE Technology Group Co. Ltd. Interim Report 2025
4. Financial Investments
(1) Securities Investments
□Applicable □ Not applicable
Unit: RMB
Accou Profit/loss on
Variet Cumulative fair
nting fair value Purchased in Sold in this Profit/loss in Fundi
y of Code of Name of Initial Beginning value changes Ending carrying Account
measu changes in this this Reporting Reporting this Reporting ng
securit securities securities investment cost carrying value charged to value ing title
rement Reporting Period Period Period source
ies equity
model Period
Held-
Dome Fair
for-
stic/ov value Self-
002841.SZ CVTE 299999939.00 163511485.00 -10233312.00 0.00 0.00 0.00 -7220909.00 153278173.00 trading
erseas metho funded
financial
stock d
assets
Held-
Dome Fair
for-
stic/ov value Self-
688720.SH ASEM 29999976.00 42340316.00 3457008.00 0.00 0.00 0.00 3457008.00 45797324.00 trading
erseas metho funded
financial
stock d
assets
Held-
Dome Fair
for-
stic/ov value Self-
301611.SZ Kematek 17142856.00 110916387.00 1492611.00 0.00 0.00 0.00 1706897.00 112408998.00 trading
erseas metho funded
financial
stock d
assets
Held-
Dome Fair
for-
stic/ov SINOPHO value Self-
688545.SH 49999989.00 0.00 55947535.00 0.00 49999989.00 0.00 56803699.00 105947524.00 trading
erseas RUS metho funded
financial
stock d
assets
Other
Dome Fair
equity
stic/ov value Self-
600658.SH BEZ 90160428.00 60213131.00 0.00 -26922893.00 0.00 0.00 0.00 63237535.00 instrume
erseas metho funded
nt
stock d
investm
20BOE Technology Group Co. Ltd. Interim Report 2025
ent
Other
Dome Fair equity
Bank of
stic/ov value instrume Self-
01963.HK Chongqin 120084375.00 141851349.00 0.00 67171480.00 0.00 0.00 6249735.00 187255855.00
erseas metho nt funded
g
stock d investm
ent
Other
Dome Fair equity
New
stic/ov value instrume Self-
01518.HK Century 140848850.00 19855500.00 0.00 -125205898.00 0.00 0.00 433930.00 15642952.00
erseas metho nt funded
Healthcare
stock d investm
ent
Other
Dome Fair equity
Horizon
stic/ov value instrume Self-
09660.HK Robotics 31954500.00 35638388.00 0.00 25589097.00 0.00 7442284.00 0.00 50101313.00
erseas metho nt funded
Inc.stock d investm
ent
Other securities investments held at
0.00--0.000.000.000.000.000.000.00----
the period-end
Total 780190913.00 -- 574326556.00 50663842.00 -59368214.00 49999989.00 7442284.00 61430360.00 733669674.00 -- --
(2) Investments in Derivative Financial Instruments
□Applicable□ Not applicable
No such cases in the Reporting Period.
5. Use of Funds Raised
□Applicable □ Not applicable
(1) Overall Use of Funds Raised
□Applicable □ Not applicable
21BOE Technology Group Co. Ltd. Interim Report 2025
Unit: RMB’0000
Funds used
Total The purpose
Total funds as % of net Accumulative Funds
Total Net Accumulative repurposed Accumulative Total and
Securities used in the proceeds as repurposed idle for
Year Way of raising funds proceeds funds used funds in repurposed unused whereabouts
listing date current of the funds as % of over two
raised (1) (2) the current funds funds of unused
period period-end net proceeds years
period funds
(3)=(2)/(1)
Public offering
2025 of corporate 19 June 2025 200000 200000 200000 200000 100.00% 0 0 0.00% 0 N/A 0
bonds
Offering of
2025 25 April 2025 200000 200000 200000 200000 100.00% 0 0 0.00% 0 N/A 0
notes
Offering of
2025 15 May 2025 100000 100000 100000 100000 100.00% 0 0 0.00% 0 N/A 0
notes
Offering of
2025 26 June 2025 100000 100000 100000 100000 100.00% 0 0 0.00% 0 N/A 0
notes
Total -- -- 600000 600000 600000 600000 100.00% 0 0 0.00% 0 -- 0
Explanation of overall use of funds raised
In the first half of 2025 the Company issued corporate bonds raising RMB2000000000 to swap with the principal of corporate bonds previously repaid with its own funds. The raised funds have been
used up conforming to the provisions of the prospectus.In the first half of 2025 the Company issued medium-term notes totaling RMB4000000000 to fund equity investments replenish working capital and repay interest-bearing liabilities. The raised funds
have been used up conforming to the provisions of the prospectus.
(2) Commitment Projects of Fund Raised
□Applicable □ Not applicable
Unit: RMB’0000
Committed Investment Date of Whether
Changed Investment Investment Accumulative Realized
investment schedule reaching Accumulative Whether occurred
Securities or not Committed amount amount in investment income in
Financing project and Project as the intended income as of reached significant
listing (including investment after the amount as of the
project super raise nature period-end use of the period- anticipated changes in
date partial amount adjustment Reporting the period- Reporting
fund (3) the end income project
changes) (1) Period end (2) ＝ Period
arrangement (2)/(1) project feasibility
Committed investment project
22BOE Technology Group Co. Ltd. Interim Report 2025
Swapping
Swapping
with the
with the
principal of
principal of
corporate
19 June corporate
bonds Repayment No 200000 200000 200000 200000 100.00% - 0 0 N/A No
2025 bonds
22BOEY1
previously
previously
repaid with
repaid with
own funds
own funds
Chengdu
BOE Display 25 April Equity Equity
No 190000 190000 190000 190000 100.00% - 0 0 N/A No
Technology 2025 investment investment
Co. Ltd.Replenishing Replenishing Replenishing
25 April
working working working No 10000 10000 10000 10000 100.00% - 0 0 N/A No
2025
capital capital capital
Chengdu
BOE Display 15 May Equity Equity
No 90000 90000 90000 90000 100.00% - 0 0 N/A No
Technology 2025 investment investment
Co. Ltd.Replenishing Replenishing Replenishing
15 May
working working working No 10000 10000 10000 10000 100.00% - 0 0 N/A No
2025
capital capital capital
Repayment
26 June Loan Loan
of working No 100000 100000 100000 100000 100.00% - 0 0 N/A No
2025 repayment repayment
capital loan
Subtotal of committed investment project -- 600000 600000 600000 600000 -- -- -- --
Super raised funds arrangement
N/A - - - - - - - - - - - - - No
Subtotal of super raised funds arrangement -- 0 0 0 0 -- -- -- --
Total -- 600000 600000 600000 600000 -- -- 0 0 -- --
Describe project by project any failure to All funds raised through the 2025 First Tranche of Medium-Term Notes (Technological Innovation Notes) of BOE Technology Group Co. Ltd. the 2025 Second Tranche
meet the schedule or anticipated income as of Technological Innovation Bonds of BOE Technology Group Co. Ltd. the 2025 Third Tranche of Technological Innovation Bonds of BOE Technology Group Co. Ltd.well as the reasons (including reasons for and the Public Offering of BOE Technology Group Co. Ltd. of Technological Innovation Corporate Bonds (First Tranche) in 2025 to Professional Investors have been
inputting “N/A” for “Whether reached used up. As a result the Company's main business will be developed its competitiveness will be enhanced the debt repayment ability will be strengthened and theanticipated income”) financial conditions will be improved. The input of “N/A” in the “anticipated income” is because these projects do not directly generate economic benefits.
23BOE Technology Group Co. Ltd. Interim Report 2025
Notes of condition of significant changes
N/A
occurred in project feasibility
Amount purpose and schedule of super
N/A
raise fund
Unauthorized change of the purpose of
raised funds or illegal occupation of raised N/A
funds
Changes in implementation address of
N/A
investment project
Adjustment of implementation mode of
N/A
investment project
Applicable
Advance investments in projects financed As at 30 June 2025 the funds raised through the 2025 First Tranche of Medium-Term Notes (Technological Innovation Notes) of BOE Technology Group Co. Ltd. were
with raised funds and swaps of such used to swap with the advance investment of RMB1.9 billion in Chengdu BOE Display Technology Co. Ltd.; and the funds raised through the 2025 Second Tranche of
advance investments with subsequent Technological Innovation Bonds (Technological Innovation Notes) of BOE Technology Group Co. Ltd. were used to swap with the advance investment of RMB900
raised funds million in Chengdu BOE Display Technology Co. Ltd.The funds raised through the 2025 Public Offering of Technological Innovation Corporate Bonds of BOE Technology Group Co. Ltd. for Professional Investors (First
Tranche) were used to swap with the previous repayment with own funds of RMB2 billion for the corporate bonds 22BOEY1.Idle funds replenishing the working capital
N/A
temporarily
Applicable
Amount of surplus in project As at 30 June 2025 the funds raised through the corporate bonds have been used up with a balance of RMB13.9 thousand in the raised funds account which was the
implementation and the reasons interest income generated during the deposit period.As at 30 June 2025 the funds raised through the medium-term notes have been used up with a balance of RMB8.3 thousand in the raised funds account which was the
interest income generated during the deposit period.Purpose and whereabouts of unused funds The balance of the funds raised through bonds will be used to repay interest on the bonds.Problems incurred in fund using and
N/A
disclosure or other condition
(3) Re-purposed Raised Funds
□Applicable□ Not applicable
No such cases in the Reporting Period.
24BOE Technology Group Co. Ltd. Interim Report 2025
VII Sale of Major Assets and Equity Interests
1. Sale of Major Assets
□Applicable□ Not applicable
No such cases in the Reporting Period.
2. Sale of Major Equity Interests
□Applicable□ Not applicable
VIII Main Controlled and Joint Stock Companies
□Applicable □ Not applicable
Main subsidiaries and joint stock companies with an over 10% influence on the Company’s net profit
Unit: RMB
Relationship
Name with the Principal activities Registered capital Total assets Net assets Operating revenue Operating profit Net profit
Company
R&D Production
and sales of semi-
conductor display
device complete
Chongqing BOE
machine and
Optoelectronics
Subsidiary relevant products; 3845200000.00 43624334076.00 34327526473.00 8570858012.00 2111795815.00 1800708701.00
Technology Co.import and export
Ltd.business and
technology
consulting of
goods.Hefei Xinsheng Investment
Optoelectronics construction
Subsidiary 9750000000.00 29989007222.00 18411160699.00 14072695161.00 1186542339.00 1003016555.00
Technology Co. R&D Production
Ltd. and sales of
25BOE Technology Group Co. Ltd. Interim Report 2025
relevant products
of TFT-LCD and
its matching
products.Investment
construction
Fuzhou BOE R&D Production
Optoelectronics and sales of
Subsidiary 17600000000.00 28779572367.00 23999292601.00 5639018785.00 1177985110.00 1022335738.00
Technology Co. relevant products
Ltd. of TFT-LCD and
its matching
products.Subsidiaries obtained or disposed in this Reporting Period
□Applicable □ Not applicable
Name of subsidiary How the subsidiary was acquired or disposed of Effects on the overall operations and performance
Three companies including Beijing BOE Materials Technology Co. Ltd. Incorporated with investment No significant effects
BOE Technology UK Limited De-registered No significant effects
Information about major majority- and minority-owned subsidiaries:
N/A
26BOE Technology Group Co. Ltd. Interim Report 2025
IX Structured Bodies Controlled by the Company
□Applicable□ Not applicable
X Risks Facing the Company and Countermeasures
In the first half of 2025 global situations became increasingly complex with the global economy facing headwinds due to unclear
trade and economic policies and geopolitical instability. Economic growth slowed down and the growth outlook came under
pressure. Additionally the industrial chain structure continues to adjust and brand competition intensified leading to ongoing price
erosion and further compression of profit margins along the industry chain.In the face of a market environment where opportunities and challenges co-exist the Company adheres to innovation-driven
development strategy maintaining high levels of investment in research and development to strengthen its core competitive
advantages. The Company is committed to deepening AI technology applications enhancing technological product capabilities and
improving operational management efficiency. The Company remains steadfast in following the "Empower IoT with Display"
strategy staying customer-oriented continually improving its international layout and deepening cooperation with global strategic
clients. Simultaneously efforts are being made to enhance resilience development and steadily build a secure healthy and
sustainable supply chain support system. In terms of internal management the Company further deepens lean management and
consistently rallies around a firm core corporate culture to unite and rally the team tocomprehensively address external environmental
impacts.XI Formulation and Implementation of Market Value Management Rules and Valuation
Enhancement Plan
Indicate whether the Company has formulated market value management rules.□Yes □ No
Indicate whether the Company has disclosed a valuation enhancement plan.□ Yes□ No
In order to effectively strengthen investment value and enhance investor returns in accordance with the Company Law the
Securities Law Regulatory Guideline No. 10 for Listed Companies—Market Value Management and other applicable laws and
regulations the Company has formulated the Market Value Management Rules which was reviewed and approved at the Fourth
Meeting of the 11th Board of Directors of the Company on 18 April 2025.XII Implementation of the Action Plan for “Dual Enhancement of Quality and Profitability”
Indicate whether the Company has disclosed its Action Plan for “Dual Enhancement of Quality and Profitability”.□Yes □ No
In adherence to the “investor-centric” ethos of listed entities and to protect the interests of all shareholders the Company imbuedwith confidence in its future prospects and recognizing its inherent value released the Action Plan for “Dual Enhancement ofQuality and Profitability” on 28 February 2024. This Plan devised in line with the Company’s overarching strategic blueprint
aims to consistently bolster its core strengths and elevate both the Company’s quality and investment worth. Here are the specific
implementation measures:
1. Pursue the “Core Business Focus and Premium Growth Strategy”
BOE specializes in crafting intelligent interface products and expert services that support information exchange and human
wellness drawing from extensive know-how and exploration experience in semiconductor display and IoT sectors. It has
27BOE Technology Group Co. Ltd. Interim Report 2025
innovatively devised the “Empower IoT with Display” strategy custom-fit for its IoT development giving birth to the
“1+4+N+Ecosystem” business model.“1” refers to the semiconductor display business where the Company solidifies its dominance and maintains a commanding lead.“4” highlights the high-potential IoT-focused sectors witnessing numerous development outcomes and steady improvement in
operational quality. Meanwhile “N” represents the array of specialized niche market segments where the Company diligently
penetrates and crafts distinctive “specialized sophisticated distinctive and innovative” models.Moving forward the Company will adhere to the strategy of “Empower IoT with Display” build a diverse product portfolio and
serve customers across the globe with better products and services. Based on the business development architecture of
“1+4+N+Ecosystem” it will remain steadfast in its principal operations maximize resource recycling and drive high-quality
business growth to increase the value of the industrial chain and enable excellent shareholder returns.
2. Uphold “Innovation as the Prime Mover”
The Company consistently prioritizes technology and innovation. It continuously invests in semiconductor display R&D
establishing a firm groundwork for industry-leading innovation and technological superiority. Moreover the Company persistently
reinforces its portfolio of high-quality patents. In the first half of the year it filed over 4000 new patent applications with more
than 90% of the filings being invention patents and more than 30% of these patents being filed internationally. Among these new
patent applications over 2000 involve sectors such as flexible OLED sensors AI big data etc. accounting for over 50%. The
Company's technological innovation prowess has been repeatedly recognized entering the global TOP20 in the IFI U.S. patent
authorization ranking for seven consecutive years and the global TOP10 in WIPO's global PCT patent application for nine
consecutive years. In addition it has been selected for four straight years and remained among the top 12 among the Top 100
Global Innovators by Clarivate Analytics further demonstrating its innovation strength and technological leadership.Moreover to maintain its technological edge the Company has built a technology architecture of “Empower IoT with Display”
that is suitable for the development of its IoT including device layer terminal layer platform layer and application layer. With a
systematic technological innovation capability that integrates software and hardware provides key support for the value extension
of its “device - terminal - scenario”. Furthermore it proactively constructs three core technology pillars—semiconductor display
IoT innovation and sensor devices—and collaborates with partners on key research to accelerate high-quality development.In the future the Company will persistently uphold “innovation as the primary driver” ensuring targeted resource investments in
key sectors. It will further intensify collaboration among industry academia and research institutions to facilitate tackling core
technologies thereby steadily enhancing its own technological competitiveness and strengthening technology leadership across the
industry.
3. Maintain “Ethical and Top-Quality Corporate Governance”
To thoroughly implement the newly revised Company Law of the People's Republic of China promote the optimization of
corporate governance mechanisms and improve the Company's internal systems during the Reporting Period the Company
revised nearly 30 governance systems including the Articles of Association and its annexes the Composition and Rules of
Procedure of the Risk Control and Audit Committee of the Board of Directors and the Composition and Rules of Procedure of the
Nomination Remuneration and Appraisal Committee of the Board of Directors in accordance with the latest laws regulations and
normative documents. Additionally it adjusted the internal supervisory bodies to further enhance operational compliance.The Company continues to advance governance improvement in various areas continuously strengthening the performance of
directors supervisors and senior management and actively organizing them to participate in special training. By holding special
meetings for independent directors and organizing on-site visits and research for independent directors the Company gives full
play to independent directors and provides support for their performance of duties.During the Reporting Period the Company's governance was sound and its operational compliance level was high. Moving
forward it will abide by the principles of “integrity standardization transparency and responsibility” regulate itself and
continuously improve the level of governance.
28BOE Technology Group Co. Ltd. Interim Report 2025
4. Conduct transparent and efficient information disclosure
So far the Company has achieved nine straight years of Grade A ratings for information disclosure by the Shenzhen StockExchange. Upholding strict adherence to legal and regulatory requirements the Company abides by the “accuracy completenessand truthfulness” principle in disclosing information catering to investor needs and actively fulfilling social responsibilities.Having published a social responsibility report (sustainability report) for 15 straight years the Company bolsters information
disclosure transparency. Moving forward it will further enhance disclosure quality effectively communicate corporate value and
strive to provide a sound basis for investors’ valuation judgments and interest protection.
5. Contribute to “Coexistence and Win-Win with Investors”
The Company persists in showing gratitude to shareholders for their long-standing support through consistent share repurchases
and cash dividends as a way to fulfill its obligations as a public company.In order to establish and improve the shareholder return mechanism actively pay back to investors effectively protect the
legitimate rights and interests of investors and guide investors to establish a long-term investment concept the Company has
formulated the Shareholder Return Plan for the Next Three Years (2025-2027) in accordance with relevant rules and the
requirements of the Articles of Association taking into account the Company's actual situation in the hope of giving back to
investors with continuous consistent and predictable returns.In the first half of 2025 the Company implemented the 2024 final dividend payout of approximately RMB1.87 billion in cash
representing 35% of the net profits attributable to the parent company in the consolidated financial statements; and it completed
the retirement of A-stock treasury shares worth approximately RMB1 billion and launched the 2025 A-stock repurchase plan and
has started the repurchase.In terms of capital operations the Company has entered a new phase of shareholder value creation. In the first half of 2025 the
Company invested in the production lines of Caihong Optoelectronics to integrate high-quality industry assets. By repurchasing
minority interests the Company further strengthened its control over the high-quality production lines and increased its parent
company equity thereby strengthening its returns to investors.The Company persists in a proactive professional and diverse approach to investor relations management. For institutional
investors it maintains close ties with the market through institutional investor visits securities firms’ investment conferences and
reverse roadshows for institutional investors among other means. For small and medium-sized investors the Company capitalizes
on various platforms including Shareholders’ General Meetings online result presentations Shenzhen Stock Exchange’s platform
at irm.cninfo.com.cn investor hotline and IR email address to engage actively and respond to queries gather feedback and
facilitate rights exercise.
29BOE Technology Group Co. Ltd. Interim Report 2025
Part IV Environmental Social and Governance Information
I Change of Directors Supervisors and Senior Management
□Applicable □ Not applicable
Name Office title Type of change Date of change Reason for change
Resigning upon
Sun Yun Senior management 14 January 2025 Change of term
expiration of term
Resigning upon
Shi Xiaodong Supervisor 14 January 2025 Change of term
expiration of term
Resigning upon
Xu Jinghe Supervisor 14 January 2025 Change of term
expiration of term
Resigning upon
Teng Jiao Employee Supervisor 14 January 2025 Change of term
expiration of term
Resigning upon
Liu Hongfeng Senior management 14 January 2025 Change of term
expiration of term
Jin Chunyan Director Elected 14 January 2025 Change of term
Wei Shuanglai Supervisor Elected 14 January 2025 Change of term
Jiang Xingqun Senior management Appointed 14 January 2025 Change of term
Qi Zheng Senior management Appointed 14 January 2025 Change of term
Guo Hong Senior management Appointed 14 January 2025 Change of term
Guo Huaping Senior management Resigning 9 July 2025 Job transfer
II Interim Dividend Plan
□Applicable□ Not applicable
The Company has no interim dividend plan either in the form of cash or stock.III Equity Incentive Plans Employee Stock Ownership Plans or Other Incentive Measures
for Employees
□Applicable □ Not applicable
1. Equity incentives
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 30 December 2020. Following the
approval of the Proposal on the Awarding of Reserved Stock Options to Incentive Objects at the 31st Meeting of the 9th Board of
Directors and the 13th Meeting of the 9th Supervisory Committee the Company disclosed the Announcement on Completion of
Registration of the Reserved and Granted Stock Option of the 2020 Stock Option and Restricted Stock Incentive Scheme
(Announcement No.: 2021-084) on 23 October 2021.
30BOE Technology Group Co. Ltd. Interim Report 2025
The Company disclosed the Announcement on the Achievement of Lifting the Restriction Conditions in the Third Lifting
Restriction Period for Restricted Stocks Granted by the 2020 Stock Option and Restricted Stock Incentive Scheme and on the
Satisfaction of the Exercise Conditions of the First Exercise Schedule of the Third Granted Stock Option (Announcement No.:
2025-025) on 22 April 2025. The lifting of the restriction conditions in the third lifting restriction period for restricted stocks
granted by the 2020 Stock Option and Restricted Stock Incentive Scheme of the Company has been achieved and the first exercise
schedule of the third granted stock option has satisfied the exercise conditions. A total of 667 awardees met the conditions for the
lifting of the restrictions resulting in a total of 89096540 shares of restricted stock that could be lifted. A total of 1644 awardees
were eligible for stock option exercise resulting in a total of 160992209 shares of stock options available for exercise. The
Company disclosed the Announcement on the Repurchase and Write-off of Certain Restricted Stocks (Announcement No.: 2025-
026) and the Announcement on the Write-off of Certain Stock Options (Announcement No.: 2025-027) on 22 April 2025 in which
the Company intends to repurchase and cancel 2252839 restricted shares and 174412031 shares of stock option that have been
granted to incentive objects but have not been exercised by them since some incentive objects resigned or failed to meet the
performance appraisal goals for personal reasons. Moreover the above-mentioned matters regarding the repurchase and
cancelation of restricted stocks were deliberated and approved in the Annual General Meeting of Shareholders of 2024 held on 23
May 2025. 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 Third Release Period (Announcement No.: 2025-033) on 26
April 2025. The total number of incentive targets who meet the conditions for releasing the restricted shares is 667 and the
number of restricted shares that can be released is 89096540 shares accounting for 0.2367% of the total share capital of the
Company. The listing date for the lifted restricted stocks is 29 April 2025. The Company disclosed the Announcement on
Adjustment of the Exercise Price of the Stock Option in the 2020 Stock Option and Restricted Stock Incentive Scheme of the
Company (Announcement No.: 2025-064) on 28 August 2025. Since the equity distribution of the Company for 2024 has been
completed the exercise price of the first grant of the stock option involved in this incentive scheme is adjusted from
RMB5.029/share to RMB4.979/share and the exercise price of the reserved and granted stock option is adjusted from
RMB5.529/share to RMB5.479/share. The Company disclosed the Announcement on the Achievement of the Exercise Conditions
for the Third Exercise Period of the Stock Options Reserved for Grant under the 2020 Stock Option and Restricted Stock Incentive
Plan (Announcement No. 2025-065) on 28 August 2025 and the conditions for the exercise of the third exercise period of the
stock options reserved for grant under the 2020 Stock Option and Restricted Stock Incentive Plan of the Company were met. The
total number of incentive recipients meeting the conditions for the exercise of options is 73 and the number of stock options
exercisable is 7046622.
2. Implementation of Employee Stock Ownership Plans
□Applicable□ Not applicable
3. Other Incentive Measures for Employees
□Applicable□ Not applicable
IV Environmental Information Disclosure
Indicate whether the listed company or any of its major subsidiaries is included in the list of companies that are required by law to
disclose environmental information.□Yes □ No
Number of companies included in the list of companies that
20
are required by law to disclose environmental information
31BOE Technology Group Co. Ltd. Interim Report 2025
No. Company Index to the report on required environmental information
The 2024 Annual Report on Required Environmental
Information disclosed by the Company through the system of
1 BOE Technology Group Co. Ltd.
required environmental information of enterprises (Beijing)
(https://hjxxpl.bevoice.com.cn:8002/home) in February 2025
The 2024 Annual Report on Required Environmental
Information disclosed by the company through the system of
Beijing BOE Optoelectronics Technology Co.
2 required environmental information of enterprises (Beijing)
Ltd.(https://hjxxpl.bevoice.com.cn:8002/home) dated 11 February
2025
The 2024 Annual Report on Required Environmental
Information disclosed by the company through the system of
Chengdu BOE Optoelectronics Technology Co.
3 required environmental information of enterprises (Sichuan)
Ltd. (B2)
(https://103.203.219.138:8082/eps/index/enterprise-search) dated
10 March 2025
The 2024 Annual Report on Required Environmental
Information disclosed by the company through the system of
4 Hefei BOE Optoelectronics Technology Co. Ltd. required environmental information of enterprises (Anhui)
(https://39.145.37.16:8081/zhhb/yfplpub_html/#/home) dated 6
March 2025
The 2024 Annual Report on Required Environmental
Information disclosed by the company through the system of
5 Beijing BOE Display Technology Co. Ltd.
required environmental information of enterprises (Beijing)
(https://hjxxpl.bevoice.com.cn:8002/home) dated 3 March 2025
The 2024 Annual Report on Required Environmental
Information disclosed by the company through the system of
Hefei Xinsheng Optoelectronics Technology Co.
6 required environmental information of enterprises (Anhui)
Ltd.(https://39.145.37.16:8081/zhhb/yfplpub_html/#/home) in
February 2025
The 2024 Annual Report on Required Environmental
Information disclosed by the company through the system of
required environmental information of enterprises (Inner
Mongolia) (http://111.56.142.62:40010/support-yfpl-
7 Ordos Yuansheng Optoelectronics Co. Ltd.
web/web/viewRunner.htmlviewId=http://111.56.142.62:40010/s
upport-yfpl-
web/web/sps/views/yfpl/views/yfplHomeNew/index.js&cantonC
ode=150000) dated 12 February 2025
The 2024 Annual Report on Required Environmental
Information disclosed by the company through the system of
Chengdu BOE Optoelectronics Technology Co.
8 required environmental information of enterprises (Sichuan)
Ltd. (B7)
(https://103.203.219.138:8082/eps/index/enterprise-search) dated
12 March 2025
The 2024 Annual Report on Required Environmental
Information disclosed by the company through the system of
Chongqing BOE Optoelectronics Technology Co.
9 required environmental information of enterprises (Chongqing)
Ltd.(http://183.66.66.47:10001/eps/index/enterprise-search) dated 21
February 2025
The 2024 Annual Report on Required Environmental
Information disclosed by the company through the system of
10 Hefei BOE Display Technology Co. Ltd. required environmental information of enterprises (Anhui)
(https://39.145.37.16:8081/zhhb/yfplpub_html/#/home) dated 7
March 2025
The 2024 Annual Report on Required Environmental
Information disclosed by the company through the system of
Fuzhou BOE Optoelectronics Technology Co.
11 required environmental information of enterprises (Fujian)
Ltd.(http://220.160.52.213:10053/idp-province/#/enterprise-
overview) dated 20 February 2025
32BOE Technology Group Co. Ltd. Interim Report 2025
The 2024 Annual Report on Required Environmental
Information disclosed by the company through the system of
Mianyang BOE Optoelectronics Technology Co.
12 required environmental information of enterprises (Sichuan)
Ltd.(https://103.203.219.138:8082/eps/index/enterprise-search) dated
4 March 2025
The 2024 Annual Report on Required Environmental
Information disclosed by the company through the system of
13 Chongqing BOE Display Technology Co. Ltd. required environmental information of enterprises (Chongqing)
(http://183.66.66.47:10001/eps/index/enterprise-search) dated 4
March 2025
The 2024 Annual Report on Required Environmental
Information disclosed by the company through the system of
Wuhan BOE Optoelectronics Technology Co. required environmental information of enterprises (Hubei
14
Ltd. Province)
(http://219.140.164.18:8007/hbyfpl/frontal/index.html#/home/in
dex) dated 10 March 2025
The 2024 Annual Report on Required Environmental
Information disclosed by the company through the system of
required environmental information of enterprises (Jiangsu)
(http://ywxt.sthjt.jiangsu.gov.cn:18181/spsarchive-
15 Nanjing BOE Display Technology Co. Ltd.
webapp/web/viewRunner.htmlviewId=http://ywxt.sthjt.jiangsu.gov.cn:18181/spsarchive-
webapp/web/sps/views/yfpl/views/yfplHomeNew/index.js) dated
13 February 2025
The 2024 Annual Report on Required Environmental
Information disclosed by the company through the system of
16 Chengdu BOE Display Technology Co. Ltd. required environmental information of enterprises (Sichuan)
(https://103.203.219.138:8082/eps/index/enterprise-search) dated
28 February 2025
The 2024 Annual Report on Required Environmental
Information disclosed by the company through the system of
17 Hefei BOE Ruisheng Technology Co. Ltd. required environmental information of enterprises (Anhui)
(https://39.145.37.16:8081/zhhb/yfplpub_html/#/home) dated 7
March 2025
The 2024 Annual Report on Required Environmental
Information disclosed by the company through the system of
18 Hefei BOE Hospital Co. Ltd. required environmental information of enterprises (Anhui)
(https://39.145.37.16:8081/zhhb/yfplpub_html/#/home) dated 11
March 2025
The 2024 Annual Report on Required Environmental
Information disclosed by the company through the system of
19 Chengdu BOE Hospital Co. Ltd. required environmental information of enterprises (Sichuan)
(https://103.203.219.138:8082/eps/index/enterprise-search) dated
6 March 2025
The 2024 Annual Report on Required Environmental
Information disclosed by the company through the system of
required environmental information of enterprises (Jiangsu)
(http://ywxt.sthjt.jiangsu.gov.cn:18181/spsarchive-
20 Suzhou BOE Hospital Co. Ltd.
webapp/web/viewRunner.htmlviewId=http://ywxt.sthjt.jiangsu.gov.cn:18181/spsarchive-
webapp/web/sps/views/yfpl/views/yfplHomeNew/index.js) dated
4 March 2025
33BOE Technology Group Co. Ltd. Interim Report 2025
V Social Responsibility
BOE aims "To Be the Most Respected Company on Earth" and upholds its commitment to social responsibility. The Company has
made sustainable development a key topic by incorporating it into the duties of the Strategic Committee of the Board of Directors.Additionally a Sustainable Development Committee has been established under the Executive Committee with a Sustainability
Execution Office responsible for connecting upper and lower levels of the organization. A three-tier governance system has been
established with sustainable development positioned as a core group strategy working in synergy with the Company's business
development strategy.In April 2025 BOE launched "ONE" (Open Next Earth) the first sustainability brand in China's display industry. The brand is
centered around the three principles of "Open Next and Earth" redefining the responsibility boundaries for technology companies.It elevates sustainable development from corporate practice to industry standards setting a new benchmark for the global display
industry's sustainable development.BOE adheres to an open and inclusive approach working with global partners to build an integrated and symbiotic industrial
ecosystem. It insists on technological innovation and forward-looking planning using its "Empower IoT with Display" strategy to
drive breakthroughs in display technology and reshape its technological value. At the same time BOE is committed to creating a
harmonious and symbiotic community by exploring new paradigms for the coexistence of industry and nature through green
technology innovation showcasing the harmonious boundaries between technology and nature and promoting the sustainable
coexistence of technology ecology and humanity.In terms of green development BOE not only supports low-carbon living through innovative technologies but also promotes green
innovation and the circular economy to achieve the symbiosis of industry and nature. As of June 2025 BOE has 18 national-level
green factories including two zero-carbon factories. Seven of its factories have received the highest platinum certification for UL
2799 zero-waste-to-landfill and nine factories have joined the Science-Based Targets initiative (SBTi). At the same time BOE's
Chongqing BOE Optoelectronics Technology Co. Ltd. was selected as the display industry's first "National-level Zero-waste
Enterprise" case. The Beijing 8.5 generation TFT-LCD production line became the first in the domestic industry to achieve 100% use
of recycled water. Additionally in the first half of 2025 BOE developed more than 20 perovskite photovoltaic products and various
integrated energy solutions.In terms of social welfare in June 2025 BOE launched the "Lighting the Way to Growth" public welfare project in Litang County
marking the beginning of the Company's new ten-year public welfare journey attracting participation from multiple charitable
partners. As the project gradually progresses BOE's smart classrooms will exceed 156 in number covering ten provinces and cities
across China. Moreover in the first half of 2025 BOE also initiated its first "Smart Aid with Me" emergency medical volunteer
service tour across China bringing emergency equipment and knowledge into rural communities to empower high-quality
development in rural areas through innovative technology.In terms of rural revitalization the Company sold agricultural products worth RMB53.44 million through a centralized procurement
platform added two new agricultural suppliers introduced 641 special agricultural products and established seven agricultural bases
covering categories such as rice oil meat vegetables and fruits. Additionally it set up an online agricultural assistance section on
the procurement platform and "Chengqi Select" and created offline support scenarios at "Chengqi Kitchen" and "Chengqi
Convenience Stores" to promote display and sell the support products.Looking forward BOE will continue to follow its "Empower IoT with Display" strategy uphold the "Open Next Earth" sustainability
brand concept actively practice corporate social responsibility and collaborate with stakeholders to co-create a low-carbon future
leading the industry toward a path of sustainable development.
34BOE Technology Group Co. Ltd. Interim Report 2025
Part V Significant Events
1. Commitments of the Company’s Actual Controller Shareholders Related Parties and
Acquirers as well as the Company Itself and other Entities Fulfilled in the Reporting Period
or Ongoing at the Period-end
□Applicable □ Not applicable
Type
Date of
of Term of Fulfillm
Commitment Promisor Details of commitment commitme
comm commitment ent
nt making
itment
In accordance with the
Announcement on the
Commitments of not Reducing the
Shareholding by Some Directors
Supervisors and Senior
Management (No.: 2020-001)
disclosed by the Company on 22
February 2020 some of the
Company’s directors supervisors
and senior managers based on their
The Chairman of the confidence in the Company’s future
Board: Mr. Chen Yanshun development and their recognition
Vice Chairman of the of the corporate value promise not
During the term
Board: Mr. Gao Wenbao to reduce or transfer any shares held
as director
Supervisor: Mr. Xu in BOE (A shares) not to entrust
supervisor or
Yangping and Mr. Yan Jun others to manage specific shares not
senior manager
Senior Management: Ms. to authorize others to execute their
Other Other and in six
Feng Liqiong voting right by means of any 21
commitments comm months after
Former Director: Mr. Liu agreement trust or other February Ongoing
made to minority itment the expiration
Xiaodong and Ms. Sun Yun arrangements and not to require the 2020
interests s of the term (the
Former Supervisor: Mr. Company to repurchase any specific
term
Teng Jiao shares during the terms of office and
determined
Former Senior within 6 months after their tenures
when taking
Management: Mr. Miao expire so as to promote the
office).Chuanbin Mr. Xie Company’s continuous stable and
Zhongdong and Mr. Liu healthy development and maintain
Hongfeng the rights and interests of the
Company and all shareholders. For
any newly-added shares derived
from the assignment of rights and
interests including the share
donation and the reserved funds
converted into share capital during
the period (corresponding to the
specific shares) they shall still keep
their promises till the commitment
period expires.Executed on time
Yes
or not
Specific reasons
for failing to N/A
fulfill
35BOE Technology Group Co. Ltd. Interim Report 2025
commitments on
time and plans for
next step (if any)
II Occupation of the Company’s Capital by the Controlling Shareholder or any of Its
Related Parties for Non-Operating Purposes
□Applicable□ Not applicable
No such cases in the Reporting Period.III Irregularities in the Provision of Guarantees
□Applicable□ Not applicable
No such cases in the Reporting Period.IV Engagement and Disengagement of Independent Auditor
Are the interim financial statements audited
□ Yes□ No
The interim financial statements have not been audited.V Explanations Given by the Board of Directors and the Supervisory Committee Regarding
the Independent Auditor's “Modified Opinion” on the Financial Statements of the
Reporting Period
□Applicable□ Not applicable
VI Explanations Given by the Board of Directors Regarding the Independent Auditor's
“Modified Opinion” on the Financial Statements of Last Year
□Applicable□ Not applicable
VII Insolvency and Reorganization
□Applicable□ Not applicable
No such cases in the Reporting Period.VIII Legal Matters
Significant lawsuits and arbitrations:
□ Applicable□ Not applicable
No such cases in the Reporting Period.Other legal matters:
□Applicable □ Not applicable
36BOE Technology Group Co. Ltd. Interim Report 2025
General Involved Index to
information amount Provision Progress
Decisions Execution of Disclosure
(RMB’0000) and effects decisions date
disclosed
information
Total unclosed
106156.32 No N/A N/A N/A N/A N/A
cases
IX Punishments and Rectifications
□Applicable□ Not applicable
No such cases in the Reporting Period.X Credit Quality of the Company as well as its Controlling Shareholder and De Facto
Controller
□Applicable□ Not applicable
XI Major Related-Party Transactions
1. Continuing Related-Party Transactions
□Applicable□ Not applicable
No such cases in the Reporting Period.
2. Related-Party Transactions Regarding Purchase or Sales of Assets or Equity Interests
□Applicable□ Not applicable
No such cases in the Reporting Period.
3. Related Transactions Regarding Joint Investments in Third Parties
□Applicable□ Not applicable
No such cases in the Reporting Period.
4. Amounts Due to and from Related Parties
□Applicable□ Not applicable
No such cases in the Reporting Period.
5. Transactions with Related Finance Companies
□Applicable□ Not applicable
The Company did not make deposits in receive loans or credit from and was not involved in any other finance business with any
related finance company or any other related parties.
37BOE Technology Group Co. Ltd. Interim Report 2025
6. Transactions with Related Parties by Finance Companies Controlled by the Company
□Applicable□ Not applicable
The finance company controlled by the Company did not make deposits receive loans or credit from and was not involved in any
other finance business with any related parties.
7. Other Major Related-Party Transactions
□Applicable □ Not applicable
The Company held the Fourth Meeting of the 11th Board of Directors on 18 April 18 2025 at which the Announcement on
Estimated Continuing Related-party Transactions for 2025 was approved. For details please refer to the relevant announcement
disclosed by the Company on www.cninfo.com.cn.Index to the public announcements about the said related-party transactions disclosed
Title of public announcement Disclosure date Disclosure website
Announcement on Estimated Continuing Related-
22 April 2025 www.cninfo.com.cn
party Transactions for 2025
XII Major Contracts and Execution thereof
1. Entrustment Contracting and Leases
(1) Entrustment
□Applicable□ Not applicable
No such cases in the Reporting Period.
(2) Contracting
□Applicable□ Not applicable
No such cases in the Reporting Period.
(3) Leases
□Applicable□ Not applicable
No such cases in the Reporting Period.
38BOE Technology Group Co. Ltd. Interim Report 2025
2. Major Guarantees
□Applicable □ Not applicable
Unit: RMB'0000
Guarantees provided by the Company as the parent and its subsidiaries for external parties (exclusive of those for subsidiaries)
Guarantee
Disclosure
Actual Actual Having for a
date of the Line of Type of Collateral Counter guarantee Term of
Obligor occurrence guarantee expired related
guarantee line guarantee guarantee (if any) (if any) guarantee
date amount or not party or
announcement
not
N/A
Guarantees provided by the Company as the parent for its subsidiaries
Guarantee
Disclosure
Actual Actual Having for a
date of the Line of Type of Collateral Counter guarantee Term of
Obligor occurrence guarantee expired related
guarantee line guarantee guarantee (if any) (if any) guarantee
date amount or not party or
announcement
not
30 November 15 March Joint-
Ordos YuanSheng Optoelectronics Co. Ltd. 553800 - N/A N/A - Yes Not
2016 2017 liability
Chengdu BOE Optoelectronics Technology 30 August Joint- 2017-9-6 to
24 April 2017 2294421 624504 N/A N/A Not Not
Co. Ltd. 2017 liability 2029-9-5
The secured party
Chengdu BOE Optoelectronics Technology 27 August 23 September Joint- provides a counter 2024-9-24 to
300000 192881 N/A Not Not
Co. Ltd. 2024 2024 liability guarantee for the 2030-9-5
guarantor
The secured party
30 November 30 August Joint- provides a counter 2017-9-7 to
Hefei BOE Display Technology Co. Ltd. 1723307 37156 N/A Not Not
2016 2017 liability guarantee for the 2027-9-29
guarantor
The secured party
Mianyang BOE Optoelectronics 18 September Joint- provides a counter 2018-9-26 to
18 May 2018 2130280 712088 N/A Not Not
Technology Co. Ltd. 2018 liability guarantee for the 2031-9-26
guarantor
Mianyang BOE Optoelectronics 27 August 27 September Joint- The secured party 2024-10-8 to
340000 243251 N/A Not Not
Technology Co. Ltd. 2024 2024 liability provides a counter 2031-9-26
39BOE Technology Group Co. Ltd. Interim Report 2025
guarantee for the
guarantor
The secured party
Chongqing BOE Display Technology Co. 29 December Joint- provides a counter 2020-12-31 to
27 April 2020 2078746 1344530 N/A Not Not
Ltd. 2020 liability guarantee for the 2033-12-31
guarantor
The secured party
Wuhan BOE Optoelectronics Technology 25 March 16 August Joint- provides a counter 2019-8-23 to
2055894 312300 N/A Not Not
Co. Ltd. 2019 2019 liability guarantee for the 2032-8-23
guarantor
The secured party
Wuhan BOE Optoelectronics Technology 23 December 25 December Joint- provides a counter 2024-12-26 to
620000 541943 N/A Not Not
Co. Ltd. 2024 2024 liability guarantee for the 2032-8-23
guarantor
The secured party
Joint- provides a counter 2020-6-15 to
Chengdu BOE Hospital Co. Ltd. 27 April 2020 240000 15 June 2020 169118 N/A Not Not
liability guarantee for the 2042-6-30
guarantor
Total actual amount of such
Total approved line for such guarantees in the Reporting
0 guarantees in the Reporting 421785
Period (B1)
Period (B2)
Total actual balance of such
Total approved line for such guarantees at the end of the
11782648 guarantees at the end of the 4177771
Reporting Period (B3)
Reporting Period (B4)
Guarantees provided between subsidiaries
Guarantee
Disclosure
Actual Actual Having for a
date of the Line of Type of Collateral Counter guarantee Term of
Obligor occurrence guarantee expired related
guarantee line guarantee guarantee (if any) (if any) guarantee
date amount or not party or
announcement
not
Yaoguang New Energy (Shouguang) Co. 30 September Joint- 2020-9-30 to
N/A 2462 1837 N/A N/A Not Not
Ltd. 2020 liability 2034-9-30
Suzhou Industrial Park Taijing Photovoltaic 30 September Joint- 2020-9-30 to
N/A 1915 1429 N/A N/A Not Not
Co. Ltd. 2020 liability 2034-9-30
Qingmei Solar Energy Technology (Lishui) 30 September Joint- 2020-9-30 to
N/A 2257 1497 N/A N/A Not Not
Co. Ltd. 2020 liability 2034-9-30
Guoji Energy (Ningbo) Co. Ltd. N/A 1231 3 December 843 Joint- N/A N/A 2020-12-3 to Not Not
40BOE Technology Group Co. Ltd. Interim Report 2025
2020 liability 2034-12-3
Hongyang Solar Energy Power Generation 3 December Joint- 2020-12-3 to
N/A 1710 1171 N/A N/A Not Not
(Anji) Co. Ltd. 2020 liability 2034-12-3
Ke’en Solar Energy Power Generation 3 December Joint- 2020-12-3 to
N/A 1094 750 N/A N/A Not Not
(Pingyang) Co. Ltd. 2020 liability 2034-12-3
Dongze Photovoltaic Power Generation 3 December Joint- 2020-12-3 to
N/A 958 656 N/A N/A Not Not
(Wenzhou) Co. Ltd. 2020 liability 2034-12-3
23 October Charging 2017-10-24 to
BOE Energy Technology Co. Ltd. N/A 8755 5282 Pledge N/A Not Not
2017 right 2032-10-23
15 August Charging 2018-9-26 to
BOE Energy Technology Co. Ltd. N/A 14063 4596 Pledge N/A Not Not
2018 right 2032-12-21
28 November Charging 2017-12-1 to
BOE Energy Technology Co. Ltd. N/A 17386 10987 Pledge N/A Not Not
2017 right 2032-12-1
27 April Joint- 2018-4-27 to
Hefei BOE Hospital Co. Ltd. 27 April 2018 130000 99940 N/A N/A Not Not
2018 liability 2036-4-27
The secured party
29 December Joint- provides a counter 2021-12-29 to
Beijing BOE Life Technology Co. Ltd. N/A 60000 26067 N/A Not Not
2021 liability guarantee for the 2039-12-28
guarantor
23 March 2023
to the time
when all orders
The secured party
under the
BOE Vision-Electronic 30 March 23 March Joint- provides a counter
214758 9622 N/A purchase and Not Not
Technology Co. Ltd 2022 2023 liability guarantee for the
sales
guarantor
Agreement
have been
completed
16 August Joint- 2025-2-18 to
BOE HC SemiTek (Suzhou) Co. Ltd. 2 April 2024 33234 2177 N/A N/A Not Not
2024 liability 2031-2-17
26 January 3 August Joint- 2024-8-23 to
BOE HC SemiTek (Suzhou) Co. Ltd. 22920 2269 N/A N/A Not Not
2021 2021 liability 2028-8-23
30 September 15 November Joint- 2021-11-17 to
BOE HC SemiTek (Suzhou) Co. Ltd. 34380 3772 N/A N/A Not Not
2021 2021 liability 2029-9-25
21 January 3 January Joint- 2025-1-6 to
BOE HC SemiTek (Suzhou) Co. Ltd. 45840 1100 N/A N/A Not Not
2023 2024 liability 2029-1-6
21 January 3 January Joint- 2025-1-21 to
BOE HC SemiTek (Suzhou) Co. Ltd. 45840 1146 N/A N/A Not Not
2023 2024 liability 2029-1-15
41BOE Technology Group Co. Ltd. Interim Report 2025
19 March Joint- 2025-3-19 to
BOE HC SemiTek (Suzhou) Co. Ltd. 2 April 2024 33234 1123 N/A N/A Not Not
2025 liability 2029-5-18
26 March Joint- 2025-3-26 to
BOE HC SemiTek (Suzhou) Co. Ltd. 2 April 2024 33234 1797 N/A N/A Not Not
2025 liability 2029-3-26
5 November Joint- 2024-11-6 to
BOE HC SemiTek (Suzhou) Co. Ltd. 2 April 2024 33234 2292 N/A N/A Not Not
2024 liability 2028-11-6
17 January Joint- 2025-1-17 to
BOE HC SemiTek (Suzhou) Co. Ltd. 2 April 2024 33234 1146 N/A N/A Not Not
2025 liability 2029-1-17
17 January Joint- 2025-1-24 to
BOE HC SemiTek (Suzhou) Co. Ltd. 2 April 2024 33234 1146 N/A N/A Not Not
2025 liability 2029-1-17
26 March Joint- 2025-5-20 to
BOE HC SemiTek (Suzhou) Co. Ltd. 20628 14 May 2025 344 N/A N/A Not Not
2025 liability 2028-11-19
26 March Joint- 2025-5-22 to
BOE HC SemiTek (Suzhou) Co. Ltd. 20628 14 May 2025 619 N/A N/A Not Not
2025 liability 2029-5-20
26 March Joint- 2025-6-24 to
BOE HC SemiTek (Suzhou) Co. Ltd. 20628 14 May 2025 183 N/A N/A Not Not
2025 liability 2029-6-23
16 August Joint- 2024-8-23 to
BOE HC SemiTek (Suzhou) Co. Ltd. 2 April 2024 33234 5281 N/A N/A Not Not
2024 liability 2035-8-22
24 December Joint- 2024-12-24 to
BOE HC SemiTek (Suzhou) Co. Ltd. 2 April 2024 33234 4724 N/A N/A Not Not
2024 liability 2037-12-24
27 January Joint-
BOE HC SemiTek (Suzhou) Co. Ltd. 45840 10 May 2025 - N/A N/A - Yes Not
2022 liability
27 January 17 February Joint-
BOE HC SemiTek (Suzhou) Co. Ltd. 45840 - N/A N/A - Yes Not
2022 2022 liability
21 January 17 March Joint-
BOE HC SemiTek (Suzhou) Co. Ltd. 45840 - N/A N/A - Yes Not
2023 2023 liability
21 January 1 March Joint-
BOE HC SemiTek (Suzhou) Co. Ltd. 45840 - N/A N/A - Yes Not
2023 2024 liability
21 January 25 April Joint-
BOE HC SemiTek (Suzhou) Co. Ltd. 45840 - N/A N/A - Yes Not
2023 2023 liability
Joint-
BOE HC SemiTek (Suzhou) Co. Ltd. 2 April 2024 33234 22 May 2024 - N/A N/A - Yes Not
liability
Joint-
BOE HC SemiTek (Suzhou) Co. Ltd. 2 April 2024 33234 6 May 2024 - N/A N/A - Yes Not
liability
16 August Joint-
BOE HC SemiTek (Suzhou) Co. Ltd. 2 April 2024 33234 - N/A N/A - Yes Not
2024 liability
9 January Joint- 2025-1-15 to
BOE HC Crystaland Yunnan Co. Ltd. 2 April 2024 3438 1261 N/A N/A Not Not
2025 liability 2028-12-23
42BOE Technology Group Co. Ltd. Interim Report 2025
9 January Joint- 2025-2-17 to
BOE HC Crystaland Yunnan Co. Ltd. 2 April 2024 3438 588 N/A N/A Not Not
2025 liability 2032-12-21
2 September Joint-
BOE HC Crystaland Yunnan Co. Ltd. 2 April 2024 3438 - N/A N/A - Yes Not
2024 liability
27 January 22 November Joint-
BOE HC Crystaland Yunnan Co. Ltd. 9168 - N/A N/A - Yes Not
2022 2022 liability
21 January 26 January Joint- 2024-1-29 to
BOE HC SemiTek (Zhejiang) Co. Ltd. 52716 2258 N/A N/A Not Not
2023 2024 liability 2029-1-25
26 March 11 April Joint- 2025-4-28 to
BOE HC SemiTek (Zhejiang) Co. Ltd. 32088 1146 N/A N/A Not Not
2025 2025 liability 2029-4-27
26 September Joint- 2024-9-29 to
BOE HC SemiTek (Zhejiang) Co. Ltd. 2 April 2024 30942 447 N/A N/A Not Not
2024 liability 2030-9-20
26 September Joint- 2024-11-25 to
BOE HC SemiTek (Zhejiang) Co. Ltd. 2 April 2024 30942 335 N/A N/A Not Not
2024 liability 2030-11-20
26 September Joint- 2024-12-9 to
BOE HC SemiTek (Zhejiang) Co. Ltd. 2 April 2024 30942 1463 N/A N/A Not Not
2024 liability 2028-12-8
26 September Joint- 2024-12-16 to
BOE HC SemiTek (Zhejiang) Co. Ltd. 2 April 2024 30942 1333 N/A N/A Not Not
2024 liability 2028-12-15
26 September Joint- 2024-12-26 to
BOE HC SemiTek (Zhejiang) Co. Ltd. 2 April 2024 30942 160 N/A N/A Not Not
2024 liability 2028-12-24
26 September Joint- 2025-2-18 to
BOE HC SemiTek (Zhejiang) Co. Ltd. 2 April 2024 30942 389 N/A N/A Not Not
2024 liability 2031-2-15
26 September Joint- 2025-6-11 to
BOE HC SemiTek (Zhejiang) Co. Ltd. 2 April 2024 30942 435 N/A N/A Not Not
2024 liability 2028-12-11
Joint- 2024-6-19 to
BOE HC SemiTek (Zhejiang) Co. Ltd. 2 April 2024 30942 5 June 2024 1031 N/A N/A Not Not
liability 2029-6-19
Joint- 2024-8-28 to
BOE HC SemiTek (Zhejiang) Co. Ltd. 2 April 2024 30942 5 June 2024 2450 N/A N/A Not Not
liability 2029-8-28
Joint- 2025-3-4 to
BOE HC SemiTek (Zhejiang) Co. Ltd. 2 April 2024 30942 5 June 2024 859 N/A N/A Not Not
liability 2028-9-4
21 January 28 March Joint- 2023-3-28 to
BOE HC SemiTek (Zhejiang) Co. Ltd. 52716 2246 N/A N/A Not Not
2023 2023 liability 2029-3-27
21 January Joint- 2023-4-6 to
BOE HC SemiTek (Zhejiang) Co. Ltd. 52716 6 April 2023 2246 N/A N/A Not Not
2023 liability 2029-4-5
26 March Joint- 2025-5-16 to
BOE HC SemiTek (Zhejiang) Co. Ltd. 32088 14 May 2025 2292 N/A N/A Not Not
2025 liability 2028-11-14
26 March Joint- 2025-6-4 to
BOE HC SemiTek (Zhejiang) Co. Ltd. 32088 14 May 2025 2292 N/A N/A Not Not
2025 liability 2029-6-3
43BOE Technology Group Co. Ltd. Interim Report 2025
Joint- 2024-10-10 to
BOE HC SemiTek (Zhejiang) Co. Ltd. 2 April 2024 30942 17 July 2024 1146 N/A N/A Not Not
liability 2028-10-9
Joint- 2025-4-25 to
BOE HC SemiTek (Zhejiang) Co. Ltd. 2 April 2024 30942 17 July 2024 444 N/A N/A Not Not
liability 2029-1-15
Joint- 2025-4-28 to
BOE HC SemiTek (Zhejiang) Co. Ltd. 2 April 2024 30942 17 July 2024 244 N/A N/A Not Not
liability 2029-1-15
11 March 26 April Joint- 2023-4-28 to
BOE HC SemiTek (Zhejiang) Co. Ltd. 12606 8292 N/A N/A Not Not
2023 2023 liability 2030-4-23
30 August Joint- 2022-10-26 to
BOE HC SemiTek (Zhejiang) Co. Ltd. 18 July 2022 30942 11651 N/A N/A Not Not
2022 liability 2035-6-21
30 August Joint- 2025-5-13 to
BOE HC SemiTek (Zhejiang) Co. Ltd. 18 July 2022 30942 2063 N/A N/A Not Not
2022 liability 2028-11-9
30 August Joint- 2024-12-27 to
BOE HC SemiTek (Zhejiang) Co. Ltd. 18 July 2022 30942 134 N/A N/A Not Not
2022 liability 2028-12-25
30 August Joint- 2025-3-26 to
BOE HC SemiTek (Zhejiang) Co. Ltd. 18 July 2022 30942 72 N/A N/A Not Not
2022 liability 2028-9-25
Joint-
BOE HC SemiTek (Zhejiang) Co. Ltd. 2 April 2024 30942 5 June 2024 - N/A N/A - Yes Not
liability
21 January Joint-
BOE HC SemiTek (Zhejiang) Co. Ltd. 52716 16 June 2023 - N/A N/A - Yes Not
2023 liability
Total actual amount of such
Total approved line for such guarantees in the Reporting
464758 guarantees in the Reporting 47456
Period (C1)
Period (C2)
Total actual balance of such
Total approved line for such guarantees at the end of the
1070534 guarantees at the end of the 241073
Reporting Period (C3)
Reporting Period (C4)
Total guarantee amount (total of the three kinds of guarantees above)
Total actual guarantee
Total guarantee line approved in the Reporting Period
464758 amount in the Reporting 469241
(A1+B1+C1)
Period (A2+B2+C2)
Total actual guarantee
Total approved guarantee line at the end of the Reporting balance at the end of the
128531824418844
Period (A3+B3+C3) Reporting Period
(A4+B4+C4)
Total actual guarantee amount (A4+B4+C4) as % of the Company’s equity 33.23%
44BOE Technology Group Co. Ltd. Interim Report 2025
Of which:
Balance of guarantees provided for shareholders actual controller and their related parties (D) 0
Balance of debt guarantees provided directly or indirectly for obligors with an over 70%
109562
debt/asset ratio (E)
Amount by which the total guarantee amount exceeds 50% of the Company’s equity (F) 0
Total of the three amounts above (D+E+F) 109562
Joint responsibilities possibly borne or already borne in the Reporting Period for undue
N/A
guarantees (if any)
Provision of external guarantees in breach of the prescribed procedures (if any) N/A
Compound guarantees:
N/A
45BOE Technology Group Co. Ltd. Interim Report 2025
3. Cash Entrusted for Wealth Management
□Applicable □ Not applicable
Unit: RMB'0000
Overdue amount
Specific type Capital resources Amount incurred Undue balance Overdue amount with provision for
impairment
Bank financial
Self-owned funds 490700 178900 0 0
products
Bank financial
Raised funds 10000 10000 0 0
products
Total 500700 188900 0 0
Note: Subsidiary BOE HC Semitek Corporation used not more than RMB200000000 of idle proceeds for cash management.Details are disclosed in the announcement of BOE HC Semitek Corporation on the website of cninfo.com.cn on 8 April 2025.Particulars of entrusted cash management with single significant amount or low security bad liquidity and no capital preservation
□ Applicable□ Not applicable
Whether there is the case where the principal cannot be recovered at maturity or other case which may cause impairment for
entrusted asset management
□ Applicable□ Not applicable
4. Other Major Contracts
□Applicable□ Not applicable
No such cases in the Reporting Period.XIII Other Significant Events
□Applicable □ Not applicable
1. The Company disclosed the Announcement on Not Exercising the Issuer’s Renewal Option for the 2022 Public Offering of
Renewable Corporate Bonds of BOE (for professional investors) (Digital Economy) (Phase I) (Announcement No. 2025-008) on
11 February 2025 and the third anniversary of 22BOEY1 fell on 25 March 2025. According to the relevant provisions of the
Prospectus and the Listing Declaration the Company decides not to exercise the renewal option of bond issuer. That is the current
bonds were to be fully redeemed. As the Company disclosed the Announcement on the Redemption of the Principal and Interest of
the "22BOEY1" Corporate Bonds and the De-listing of the Bonds (Announcement No. 2025-010) on 21 March 2025 it would pay
the interest of the bonds generated between 25 March 2024 and 24 March 2025 as well as the principal of the bonds on 25 March
2025 and de-list the bonds.
2. The Company disclosed the Announcement on the Public Offering of Corporate Bonds to Professional Investors Obtaining
Registration Approval from the CSRC (Announcement No. 2024-052) on 9 October 2024. The Company received the CSRC
Permit [2024] No. 1330 which agreed to the Company's public offering of corporate bonds with an aggregate nominal value of no
more than RMB10 billion to professional investors. The Company disclosed the Announcement on the Results of the Public
Offering of BOE Technology Group Co. Ltd. of Technological Innovation Corporate Bonds (First Tranche) in 2025 to
Professional Investors (Announcement No. 2025-049) on 14 June 2025. The offering period of this bond is from 12 June 2025 to
13 June 2025 with an amount of RMB2 billion and a coupon rate of 1.94%.
3. The Company disclosed the Announcement on Resolutions of the 1st Extraordinary General Meeting in 2025 (Announcement
No. 2025-002) Announcement on Resolutions of the 1st Meeting of the 11th Board of Directors (Announcement No. 2025-005)
and Announcement on Resolutions of the 1st Meeting of the 11th Supervisory Committee (Announcement No. 2025-006) on 15
46BOE Technology Group Co. Ltd. Interim Report 2025
January 2025 which reviewed and approved proposals related to general election and completed the general election. For more
details please refer to relevant announcements.
4. Following the approval of the Proposal on the Repurchase of Some Public Shares at the Fourth Meeting of the 11th Board of
Directors and the 2024 Annual General Meeting of Shareholders the Company disclosed the Announcement on the Repurchase of
Some Public Shares (Announcement No. 2025-029) on 22 April 2025 and the Report on the Repurchase of Some Public Shares
(Announcement No. 2025-045) on 10 June 2025. On 6 June 2025 the Company disclosed the Voluntary Information Disclosure
Announcement on Receiving a Letter of Loan Commitment and Obtaining Financing Support for Share
Repurchase (Announcement No. 2025-044). The Company received a Letter of Loan Commitment issued by Beijing Branch of
China Construction Bank Corporation committing to provide the Company with a special loan of RMB1.8 billion for share
repurchase. The Company carried out the first repurchase on 30 June 2025 and disclosed the Announcement on the First
Repurchase of Some Public Shares & Share Repurchase Progress (Announcement No. 2025-055) on 1 July 2025. On 5 August
2025 the Company disclosed the Announcement on Progress of the Repurchase of Some Public Shares (Announcement No. 2025-
058). As at 31 July 2025 the Company has implemented the repurchase of the Company's shares by means of centralized bidding
through a special securities account for the repurchase and the cumulative number of A Shares repurchased was 86715800
accounting for approximately 0.2361% of the Company's A Shares and 0.2318% of the Company's total share capital with the
highest transaction price of RMB4.09 per share and the lowest transaction price of RMB3.95 per share. The total amount paid was
RMB349012524 (exclusive of transaction costs). The above repurchase of the Company was in line with the requirements of
relevant laws and regulations as well as the established repurchase program of the Company.
5. On 19 June 2025 the Company disclosed the Announcement on the Distribution of the 2024 Final Dividend (Announcement
No. 2025-053). As the 2024 Final Dividend Plan had been approved at the 2024 Annual General Meeting of Shareholders on 23
May 2025 the Company distributed a 2024 final dividend of RMB0.5 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.
6. The Company disclosed the Announcement on Resignation of Senior Management (Announcement No. 2025-057) on 10 July
2025 due to job transfer Mr. Guo Huaping applied for resignation as Senior Vice President and Chief Cultural Officer and will
not hold any position in the Company or any of its majority-owned subsidiaries after his resignation.XIV Significant Events of Subsidiaries
□Applicable □ Not applicable
On 9 April 2025 the Company disclosed the Announcement on the Official Listing of a Majority-owned Subsidiary on the National
Equities Exchange and Quotations (Announcement No.: 2025-012). The equities of the Company's majority-owned subsidiary BOE
Energy Technology Co. Ltd. were listed for public transfer on the National Equities Exchange and Quotations starting from 8 April
2025.
47BOE Technology Group Co. Ltd. Interim Report 2025
Part VI Share Changes and Shareholder Information
I Share Changes
1. Share Changes
Unit: share
Before Increase/decrease (+/-) After
Bonus
Item Percentag New Bonus issue Percenta
Number Other Subtotal Number
e issues shares from ge
profit
I. Restricted
1005763900.27%000-85630254-85630254149461360.04%
shares
1. Shares
held by the 0 0.00% 0 0 0 0 0 0 0.00%
state
2. Shares
held by state-
00.00%0000000.00%
owned
corporations
3. Shares
held by other
926416060.25%000-77695470-77695470149461360.04%
domestic
investors
Among
which: Shares
held by 0 0.00% 0 0 0 0 0 0 0.00%
domestic
corporations
Shares
held by
926416060.25%000-77695470-77695470149461360.04%
domestic
individuals
4. Shares
held by foreign 7934784 0.02% 0 0 0 -7934784 -7934784 0 0.00%
investors
Among
which: Shares
00.00%0000000.00%
held by foreign
corporations
Shares
held by foreign 7934784 0.02% 0 0 0 -7934784 -7934784 0 0.00%
individuals
II. Non-
restricted 37544439813 99.73% 0 0 0 -145505485 -145505485 37398934328 99.96%
shares
1. RMB
3685155568697.89%000-145505485-1455054853670605020198.11%
ordinary shares
48BOE Technology Group Co. Ltd. Interim Report 2025
2.
Domestically
6928841271.84%000006928841271.85%
listed foreign
shares
3. Overseas
listed foreign 0 0.00% 0 0 0 0 0 0 0.00%
shares
4. Other 0 0.00% 0 0 0 0 0 0 0.00%
III. Total shares 37645016203 100.00% 0 0 0 -231135739 -231135739 37413880464 100.00%
Reasons for share changes:
□Applicable □ Not applicable
During the Reporting Period:
1. 89096540 restricted shares granted under equity incentive plans were unlocked.
2. 2252839 restricted shares that had been granted to certain awardees but were still in lockup were repurchased and retired.
3. 228882900 treasury shares in the special securities account for repurchased shares were retired.
4. Due to changes in senior management and the unlocking of restricted shares among other reasons the number of locked-up
shares of senior management increased by 5719125 shares.The above-mentioned share changes resulted in a total decrease of 85630254 shares in the number of restricted shares during the
Reporting Period (including a total decrease of 77695470 shares in shares held by domestic individuals and a total decrease of
7934784 shares in shares held by foreign individuals) a total decrease of 145505485 shares in the number of non-restricted
shares totaling a decrease of 231135739 shares in total shares.Approval of share changes:
□ Applicable□ Not applicable
Transfer of share ownership:
□ Applicable□ Not applicable
Progress on any share repurchase:
□Applicable □ Not applicable
As at 30 June 2025 the Company has implemented the repurchase of the Company's shares by means of centralized bidding
through a special securities account for the repurchase and the cumulative number of A Shares repurchased was 20583000
accounting for approximately 0.056% of the Company's A Shares and 0.055% of the Company's total share capital with the
highest transaction price of RMB4.02 per share and the lowest transaction price of RMB3.99 per share. The total amount paid was
RMB82375331 (exclusive of transaction costs).Progress on reducing the repurchased shares by means of centralized bidding:
□ Applicable□ Not applicable
Effects of share changes on the basic and diluted earnings per share equity per share attributable to the Company’s ordinary
shareholders and other financial indicators of the prior year and the prior accounting period respectively:
□Applicable □ Not applicable
Item January-December 2024 January-June 2025
Basic earnings per share (RMB/share) 0.14 0.09
Diluted earnings per share (RMB/share) 0.14 0.09
Item 31 December 2024 30 June 2025
Equity per share attributable to the Company’s
ordinary shareholders 3.46 3.54
Other information that the Company considers necessary or is required by the securities regulator to be disclosed:
□ Applicable□ Not applicable
49BOE Technology Group Co. Ltd. Interim Report 2025
2. Changes in Restricted Shares
□Applicable □ Not applicable
Unit: Share
Restricted Restricted Restricted
Restricted Restricted
Name of the shares amount shares amount Restricted shares
shares relieved shares increased
shareholders at the period- at the period- reasons relieved
of the period of the period
begin end date
Locked shares of Locked shares
9227011305595602472014946136--
executives of executives
Restricted shares Restricted
for equity 91349379 91349379 0 0 shares for equity --
incentive incentive
Total 100576390 91654974 6024720 14946136 -- --
II Issuance and Listing of Securities
□Applicable □ Not applicable
Issue price Number
Name of stock Transaction
(or approved for Disclosure Disclosure
and derivative Issue date Issued number Listing date termination
interest listing and index date
securities date
rate) trading
Stocks
N/A
Convertible corporate bonds detachable convertible corporate bonds and other corporate bonds
For details
please refer to
the
Announcement
The Public on the Listing
Offering of on the
BOE Shenzhen Stock
Technology Exchange of the
Group Co. Technological
Ltd. of Innovation
Technological 13 June RMB20000000 19 June RMB20000000 13 June Corporate 19 June
1.94%
Innovation 2025 00 2025 00 2030 Bonds (First 2025
Corporate Tranche) in
Bonds (First 2025 Offered
Tranche) in by BOE
2025 to Technology
Professional Group Co. Ltd.Investors to Professional
Investors
disclosed on
http://www.cnin
fo.com.cn/.Other derivative securities
N/A
Description of the issuance of securities in the Reporting Period:
N/A
50BOE Technology Group Co. Ltd. Interim Report 2025
III Shareholders and Their Holdings as at the Period-End
Unit: share
Number of ordinary shareholders at the period-end 1093543 (including 1063026 A-shareholders and 30517 B-shareholders)
5% or greater shareholders or top 10 shareholders (exclusive of shares lent in refinancing)
Sharehold Increase/decre Restrict Shares in pledge marked or
Nature of Total shares
ing ase in the ed Unrestricted frozen
Name of shareholder shareholde held at the
percentag Reporting shares shares held
r period-end
e Period held Status Shares
State-
Beijing State-owned Capital
owned
Operation and Management 10.86% 4063333333 - 0 4063333333 N/A 0
legal
Company Limited
person
Foreign
Hong Kong Securities
legal 5.47% 2046647103 -619718782 0 2046647103 N/A 0
Clearing Company Ltd.person
State-
Beijing BOE Investment & owned
2.20% 822092180 - 0 822092180 N/A 0
Development Co. Ltd. legal
person
Beijing Jing Guorui Soe
Reform and Development Other 1.92% 718132854 - 0 718132854 N/A 0
Fund (L.P.)
State-
Hefei Jianxiang Investment owned
1.78% 666195772 - 0 666195772 N/A 0
Co. Ltd. legal
person
Industrial and Commercial
Bank of China Co. Ltd.-
Other 1.75% 653673047 15758900 0 653673047 N/A 0
Huatai-Pinebridge CSI 300
Exchange-Traded Fund
Domestic
non-state-
Fuqing Huirong Venture
owned 1.44% 538599640 - 0 538599640 In pledge 21000000
Capital Co. Ltd.legal
person
China Construction Bank
Co. Ltd.- E Fund CSI 300
Other 1.25% 466389123 26314100 0 466389123 N/A 0
Initiating Exchange-Traded
Fund
Foreign
Abu Dhabi Investment
legal 0.98% 367889420 13640500 0 367889420 N/A 0
Authority
person
Perseverance Asset
Management- Perseverance Other 0.94% 352000000 3000000 0 352000000 N/A 0
Xiaofeng No.2 Zhixin Fund
Strategic investors or general
corporations becoming top-ten ordinary
N/A
shareholders due to placing of new shares
(if any)
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
Related or acting-in-concert parties Beijing Jing Guorui Soe Reform and Development Fund (L.P.); Beijing Jingguorui Investment
among the shareholders above 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
51BOE Technology Group Co. Ltd. Interim Report 2025
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.Explain if any of the shareholders above
After the non-public issuing of BOE in 2014 Hefei Jianxiang Investment Co. Ltd. by entering into
was involved in entrusting/being
Implementation Protocol of Voting Right agreed to maintain all of the shares held by it unanimous with
entrusted with voting rights or waiving
Beijing BOE Investment & Development Co. Ltd. when executing the voting rights as a shareholder.voting rights
Special account for share repurchases (if
N/A
any) among the top 10 shareholders
Shareholdings of the top ten unrestricted ordinary shareholders (exclusive of shares lent in refinancing and locked shares of executives)
Shares by class
Name of shareholder Number of unrestricted ordinary shares held at the period-end
Class Shares
Beijing State-owned Capital Operation RMB ordinary
40633333334063333333
and Management Company Limited share
Hong Kong Securities Clearing Company RMB ordinary
20466471032046647103
Ltd. share
Beijing BOE Investment & Development RMB ordinary
822092180822092180
Co. Ltd. share
Beijing Jing Guorui Soe Reform and RMB ordinary
718132854718132854
Development Fund (L.P.) share
RMB ordinary
Hefei Jianxiang Investment Co. Ltd. 666195772 666195772
share
Industrial and Commercial Bank of China
RMB ordinary
Co. Ltd.- Huatai-Pinebridge CSI 300 653673047 653673047
share
Exchange-Traded Fund
RMB ordinary
Fuqing Huirong Venture Capital Co. Ltd. 538599640 538599640
share
China Construction Bank Co. Ltd.- E
RMB ordinary
Fund CSI 300 Initiating Exchange-Traded 466389123 466389123
share
Fund
RMB ordinary
Abu Dhabi Investment Authority 367889420 367889420
share
Perseverance Asset Management- RMB ordinary
352000000352000000
Perseverance Xiaofeng No.2 Zhixin Fund share
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
Related or acting-in-concert parties
Management Co. Ltd. is the general partner of Beijing Jing Guorui Soe Reform and Development Fund
among top 10 unrestricted shareholders
(L.P.). In addition among the nine members of the Investment Decision-Making Committee of Beijing
as well as between top 10 unrestricted
Jing Guorui Soe Reform and Development Fund (L.P.) three are nominated by Beijing State-owned
shareholders and top 10 shareholders
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.Top 10 ordinary shareholders involved in
N/A
securities margin trading (if any)
5% or greater shareholders top 10 shareholders and Top 10 unrestricted shareholders involved in refinancing shares lending
□ Applicable□ Not applicable
Changes in top 10 shareholders and top 10 unrestricted shareholders due to refinancing shares lending/return compared with the
prior period
□Applicable□ Not applicable
Indicate by tick mark whether any of the top 10 ordinary shareholders or the top 10 unrestricted ordinary shareholders of the
Company conducted any promissory repo during the Reporting Period.□ Yes□ No
52BOE Technology Group Co. Ltd. Interim Report 2025
No such cases in the Reporting Period.IV Change in Shareholdings of Directors Supervisors and Senior Management
□Applicable □ Not applicable
Restricted Restrict
Increase Decreas Restricted shares edshares
Beginning in the e in the Ending shares granted granted in
Incumbent/
Name Office title shareholdin Reportin Reportin shareholdin at the period-
granted
the
Former at the
g (share) g Period g Period g (share) beginning Reporting period-
(share) (share) (share) Period end
(share) (share)
Chairman of the
Chen
Board and Chief Incumbent 2900000 0 0 2900000 660000 0 0
Yanshun
Strategic Planner
Vice Chairman of
the Board
Chairman of the
Feng
Executive Incumbent 975700 0 0 975700 247500 0 0
Qiang
Committee and
Chief Executive
Officer (CEO)
Gao Vice Chairman of
Incumbent 1860700 0 0 1860700 495000 0 0
Wenbao the Board
Director Vice
Chairman of the
Wang Executive
Incumbent 852400 0 0 852400 247500 0 0
Xiping Committee and
Chief Operating
Officer (COO)
Guo
Director Incumbent 0 0 0 0 0 0 0
Chuan
Ye Feng Director Incumbent 0 0 0 0 0 0 0
Jin
Director Incumbent 0 0 0 0 0 0 0
Chunyan
Tang Independent
Incumbent 0 0 0 0 0 0 0
Shoulian Director
Zhang Independent
Incumbent 0 0 0 0 0 0 0
Xinmin Director
Independent
Guo He Incumbent 0 0 0 0 0 0 0
Director
Wang Independent
Incumbent 0 0 0 0 0 0 0
Duoxiang Director
Chairman of the
Wang Jin Supervisory Incumbent 0 0 0 0 0 0 0
Committee
Song
Supervisor Incumbent 0 0 0 0 0 0 0
Ligong
Wei
Supervisor Incumbent 0 0 0 0 0 0 0
Shuanglai
Xu Employee
Incumbent 35000 0 0 35000 0 0 0
Yangping Supervisor
Employee
Yan Jun Incumbent 32000 0 0 32000 0 0 0
Supervisor
Feng Member of the
Incumbent 1360000 0 0 1360000 330000 0 0
Liqiong Executive
53BOE Technology Group Co. Ltd. Interim Report 2025
Committee
Executive Vice
President and Chief
Counsel
Member of the
Executive
Committee
Yang
Executive Vice Incumbent 742300 0 0 742300 209220 0 0
Xiaoping
President and Chief
Financial Officer
(CFO)
Member of the
Executive
Liu
Committee and Incumbent 247500 0 0 247500 247500 0 0
Zhiqiang
Senior Vice
President
Member of the
Executive
Liu Jing Committee and Incumbent 425920 0 0 425920 209220 0 0
Senior Vice
President
Member of the
Executive
Yun
Committee and Incumbent 518500 0 0 518500 209220 0 0
Xiangnan
Senior Vice
President
Member of the
Executive
Jiang
Committee and Incumbent 724200 0 0 724200 209220 0 0
Xingqun
Senior Vice
President
Member of the
Executive
Qi Zheng Committee and Incumbent 741600 0 0 741600 209220 0 0
Senior Vice
President
Senior Vice
Yue
President and Chief Incumbent 553440 0 0 553440 209220 0 0
Zhanqiu
Audit Officer
Vice President and
Guo Hong Incumbent 428500 0 0 428500 125895 0 0
Board Secretary
Member of the
Executive
Sun Yun Committee and Former 1989481 0 0 1989481 495000 0 0
Executive Vice
President
Shi
Supervisor Former 0 0 0 0 0 0 0
Xiaodong
Xu Jinghe Supervisor Former 0 0 0 0 0 0 0
Employee
Teng Jiao Former 55200 0 0 55200 0 0 0
Supervisor
Liu Vice President and
Former 1024500 0 0 1024500 247500 0 0
Hongfeng Board Secretary
Senior Vice
Guo
President and Chief Former 0 0 0 0 0 0 0
Huaping
Cultural Officer
Total -- -- 15466941 0 0 15466941 4351215 0 0
54BOE Technology Group Co. Ltd. Interim Report 2025
Notes: 1. On 14 January 2025 the Company held the First Extraordinary General Meeting of Shareholders in 2025 to review and
approve the relevant proposals on the re-election and the First Meeting of the 11th Board of Directors to review and approve the
relevant proposals on the appointment of senior management. The shares held by the new director Ms. Jin Chunyan the new
supervisor Mr. Wei Shuanglai and the new senior management personnel Mr. Jiang Xingqun Mr. Qi Zheng and Ms. Guo Hong
at the beginning of the period and the restricted shares granted at the beginning of the period are indicated by the shares held by
them on the dates of their taking office.
2. The conditions for the release of restricted shares granted under the Company's 2020 Stock Options and Restricted Stock
Incentive Plan during the third lock-up period have been fulfilled and the restricted shares will be listed for circulation on 29 April
2025. As a result the number of restricted shares granted to directors and senior management at the end of the period decreased.
After part of the restricted shares held by the directors and senior managers of the company in this incentive plan are unlocked
The locking up and trading of its shares shall comply with the Company Law the Securities Law the Rules on the Management of
Shares Held by Directors Supervisors and Senior Managers of Listed Companies and their Changes and Compliance in Operation
of Main Board Listed Companies Shenzhen Stock Exchange Listed Companies Self-Regulatory Guidelines No. 10 - Share
Change Management and other relevant laws and regulations.V Change of the Controlling Shareholder or the Actual Controller
Change of the controlling shareholder in the Reporting Period
□ Applicable□ Not applicable
No such cases in the Reporting Period.Change of the actual controller in the Reporting Period
□ Applicable□ Not applicable
No such cases in the Reporting Period.VI Preference Shares
□Applicable□ Not applicable
No such cases in the Reporting Period.
55BOE Technology Group Co. Ltd. Interim Report 2025
Part VII Bonds
□Applicable □ Not applicable
I Enterprise Bonds
□Applicable□ Not applicable
No enterprise bonds in the Reporting Period.II Corporate Bonds
□Applicable □ Not applicable
1. Basic Information of the Corporate Bonds
Unit: RMB’0000
Balance
Date of Coupo Way of Trade
Bond name Abbr. Bond code Value date Maturity (RMB’00
issue n rate redemption place
00)
Interest shall be
The Public Offering
paid for this
of BOE Technology
issue of bonds
Group Co. Ltd. of
yearly and the
Technological 13 June 13 June 13 June
25BOEK1 524305.SZ 200000 1.94% last installment SZSE
Innovation Corporate 2025 2025 2030
of interest shall
Bonds (First Tranche)
be paid with
in 2025 to
the redemption
Professional Investors
of principal.Appropriate arrangement of the investors (if any) Only for the qualified investors
Applicable trade mechanism Centralized bidding trade and negotiated block trade
Risk of delisting (if any) and countermeasures Not
Overdue bonds
□ Applicable□ Not applicable
2. The Trigger and Execution of the Option Clause of the Issuers or Investors and the Investor Protection
Clause
□Applicable□ Not applicable
3. Adjustment of Credit Rating Results during the Reporting Period
□Applicable□ Not applicable
56BOE Technology Group Co. Ltd. Interim Report 2025
4. Execution and Changes of Guarantee Repayment Plan and Other Repayment Guarantee Measures as
well as Influence on Equity of Bond Investors during the Reporting Period
□Applicable□ Not applicable
III Debt Financing Instruments as a Non-financial Enterprise
□Applicable □ Not applicable
1. General Information about Debt Financing Instruments as a Non-financial Enterprise
Unit: RMB’0000
Balance
Date of Value Coupo Way of Trade
Bond name Abbr. Bond code Maturity (RMB’00
issue date n rate redemption place
00)
Interest shall
be paid for
The 2025 First
this issue of
Tranche of 25 BOE
bonds
Medium-Term Group
yearly and China’s
Notes MTN001
23 April 24 April 24 April the last inter-bank
(Technological (Technolo 102581768 200000 2.23%
2025 2025 2035 installment bond
Innovation Notes) gical
of interest market
of BOE Innovatio
shall be paid
Technology n Notes)
with the
Group Co. Ltd.redemption
of principal.Interest shall
be paid for
this issue of
The 2025 Second 25 BOE
bonds
Tranche of Group
yearly and China’s
Technological MTN002
13 May 14 May 14 May the last inter-bank
Innovation Bonds (Technolo 102582067 100000 2.23%
2025 2025 2035 installment bond
of BOE gical
of interest market
Technology Innovatio
shall be paid
Group Co. Ltd. n Bonds)
with the
redemption
of principal.Interest shall
be paid for
this issue of
The 2025 Third 25 BOE
bonds
Tranche of Group
yearly and China’s
Technological MTN003
24 June 25 June 25 June the last inter-bank
Innovation Bonds (Technolo 102582615 100000 1.77%
2025 2025 2028 installment bond
of BOE gical
of interest market
Technology Innovatio
shall be paid
Group Co. Ltd. n Bonds)
with the
redemption
of principal.The 2025 Fourth 25 BOE Interest shall China’s
10 July 11 July 11 July
Tranche of Group 102582852 100000 1.70% be paid for inter-bank
202520252030
Technological MTN004 this issue of bond
57BOE Technology Group Co. Ltd. Interim Report 2025
Innovation Bonds (Technolo bonds market
of BOE gical yearly and
Technology Innovatio the last
Group Co. Ltd. n Bonds) installment
of interest
shall be paid
with the
redemption
of principal.Interest shall
be paid for
this issue of
The 2025 Fifth 25 BOE
bonds
Tranche of Group
yearly and China’s
Technological MTN005
24 July 25 July 25 July the last inter-bank
Innovation Bonds (Technolo 102583095 100000 1.70%
2025 2025 2028 installment bond
of BOE gical
of interest market
Technology Innovatio
shall be paid
Group Co. Ltd. n Bonds)
with the
redemption
of principal.Interest shall
be paid for
this issue of
The 2025 Sixth 25 BOE
bonds
Tranche of Group
yearly and China’s
Technological MTN006
8 August 11 August 11 August the last inter-bank
Innovation Bonds (Technolo 102583387 100000 1.79%
2025 2025 2028 installment bond
of BOE gical
of interest market
Technology Innovatio
shall be paid
Group Co. Ltd. n Bonds)
with the
redemption
of principal.Appropriate arrangement of the investors (if
Institutional investors on China’s inter-bank bond market
any)
Applicable trade mechanism Trade mechanism of China’s inter-bank bond market
Risk of delisting (if any) and countermeasures No
Overdue bonds
□ Applicable□ Not applicable
2. The Trigger and Execution of the Option Clause of the Issuers or Investors and the Investor Protection
Clause
□Applicable□ Not applicable
3. Adjustment of Credit Rating Results during the Reporting Period
□Applicable□ Not applicable
58BOE Technology Group Co. Ltd. Interim Report 2025
4. Execution and Changes of Guarantee Repayment Plan and Other Repayment Guarantee Measures as
well as Influence on Equity of Bond Investors during the Reporting Period
□Applicable□ Not applicable
IV Convertible Corporate Bonds
□Applicable□ Not applicable
No such cases in the Reporting Period.V Losses of Scope of Consolidated Financial Statements during the Reporting Period
Exceeding 10% of Net Assets up the Period-end of Last Year
□Applicable□ Not applicable
VI The Major Accounting Data and the Financial Indicators of the Recent 2 Years of the
Company up the Period-end
Unit: RMB’0000
Item 30 June 2025 31 December 2024 Change
Current ratio 1.34 1.24 8.06%
Debt/asset ratio 52.27% 52.43% -0.16%
Quick ratio 1.08 1.04 3.85%
Item H1 2025 H1 2024 Change
Net profit before exceptional
22822416134041.46%
gains and losses
EBITDA/debt ratio 17.98% 15.60% 2.38%
Interest cover (times) 3.41 2.06 65.53%
Cash-to-interest cover (times) 12.01 10.81 11.10%
EBITDA-to-interest cover
14.4510.6935.17%
(times)
Loan repayment ratio (%) 100.00% 100.00% 0.00%
Interest payment ratio (%) 100.00% 100.00% 0.00%
59BOE Technology Group Co. Ltd. Interim Report 2025
Part VIII Financial Statements
I Independent Auditor’s Report
Are these interim financial statements audited by an independent auditor
□ Yes□ No
These interim financial statements have not been audited by an independent auditor.II Financial Statements
Currency unit for the financial statements and the notes thereto: RMB
1. Consolidated Balance Sheet
Prepared by BOE Technology Group Co. Ltd.
30 June 2025
Unit: RMB
Item 30 June 2025 1 January 2025
Current assets:
Monetary assets 66346438193.00 74252625215.00
Settlement reserve 0.00 0.00
Interbank loans granted 0.00 0.00
Held-for-trading financial assets 2329473453.00 3116435963.00
Derivative financial assets 0.00 0.00
Notes receivable 347087392.00 338059783.00
Accounts receivable 36313963961.00 36338199204.00
Accounts receivable financing 402983269.00 472537400.00
Prepayments 676267553.00 634482224.00
Premiums receivable 0.00 0.00
Reinsurance receivables 0.00 0.00
Receivable reinsurance contract reserve 0.00 0.00
Other receivables 721462753.00 812871521.00
Including: Interest receivable 0.00 0.00
Dividends receivable 432137.00 55028131.00
Financial assets purchased under resale agreements 0.00 0.00
Inventories 27350631840.00 23313464392.00
Including: Data resource 0.00 0.00
Contract assets 183174968.00 150871486.00
Assets held for sale 0.00 0.00
Current portion of non-current assets 3989850.00 3900201.00
Other current assets 3861561891.00 3954007985.00
Total current assets 138537035123.00 143387455374.00
60BOE Technology Group Co. Ltd. Interim Report 2025
Non-current assets:
Loans and advances to customers 0.00 0.00
Investments in debt obligations 0.00 0.00
Investments in other debt obligations 0.00 0.00
Long-term receivables 0.00 492067.00
Long-term equity investments 12761666972.00 13533271302.00
Investments in other equity instruments 499300051.00 441371815.00
Other non-current financial assets 2794234094.00 2735680042.00
Investment property 1706232280.00 1751189740.00
Fixed assets 190725637780.00 204904419511.00
Construction in progress 47133068984.00 30159016097.00
Productive living assets 0.00 0.00
Oil and gas assets 0.00 0.00
Right-of-use assets 701616701.00 754408280.00
Intangible assets 10906959288.00 11263463194.00
Including: Data resource 0.00 0.00
Development costs 71413909.00 109323354.00
Including: Data resource 0.00 0.00
Goodwill 653575022.00 653575022.00
Long-term prepaid expense 587612782.00 598444923.00
Deferred income tax assets 730955370.00 694888275.00
Other non-current assets 17992123014.00 18991222545.00
Total non-current assets 287264396247.00 286590766167.00
Total assets 425801431370.00 429978221541.00
Current liabilities:
Short-term borrowings 1832622693.00 1563317166.00
Borrowings from the central bank 0.00 0.00
Interbank loans obtained 0.00 0.00
Held-for-trading financial liabilities 0.00 0.00
Derivative financial liabilities 0.00 0.00
Notes payable 1604094599.00 1399557969.00
Accounts payable 36987295916.00 36713498406.00
Advances from customers 107879947.00 118971193.00
Contract liabilities 1848321535.00 2083836158.00
Financial assets sold under repurchase agreements 0.00 0.00
Customer deposits and interbank deposits 0.00 0.00
Payables for acting trading of securities 0.00 0.00
Payables for underwriting of securities 0.00 0.00
Employee benefits payable 3808055877.00 4076008388.00
Taxes payable 953881204.00 1576606596.00
Other payables 20670054748.00 20827962570.00
Including: Interest payable 0.00 0.00
61BOE Technology Group Co. Ltd. Interim Report 2025
Dividends payable 89507050.00 42861753.00
Handling charges 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 31519677374.00 43506539611.00
Other current liabilities 3988759491.00 3394971140.00
Total current liabilities 103320643384.00 115261269197.00
Non-current liabilities:
Insurance contract reserve 0.00 0.00
Long-term borrowings 99937621089.00 100932391740.00
Bonds payable 5994363698.00 0.00
Including: Preferred shares 0.00 0.00
Perpetual bonds 0.00 0.00
Lease liabilities 610997708.00 631418986.00
Long-term payables 112394106.00 121077871.00
Long-term employee benefits payable 0.00 0.00
Provisions 0.00 1652566.00
Deferred income 6788161779.00 4544617931.00
Deferred income tax liabilities 1519896880.00 1290798747.00
Other non-current liabilities 4280448797.00 2648822759.00
Total non-current liabilities 119243884057.00 110170780600.00
Total liabilities 222564527441.00 225432049797.00
Owners’ equity:
Share capital 37413880464.00 37645016203.00
Other equity instruments 0.00 2043402946.00
Including: Preferred shares 0.00 0.00
Perpetual bonds 0.00 2043402946.00
Capital reserves 51650596974.00 52207573706.00
Less: Treasury stock 82375331.00 1216490683.00
Other comprehensive income -833211007.00 -1171823864.00
Specific reserve 191508235.00 139227664.00
Surplus reserves 3879754479.00 3879754479.00
General reserve 0.00 0.00
Retained earnings 40771168804.00 39410894857.00
Total equity attributable to owners of the Company as the
132991322618.00132937555308.00
parent
Non-controlling interests 70245581311.00 71608616436.00
Total owners’ equity 203236903929.00 204546171744.00
Total liabilities and owners’ equity 425801431370.00 429978221541.00
Legal representative: Chen Yanshun Chairman of the Executive Committee: Feng
Qiang
Chief Financial Officer: Yang Xiaoping Head of the financial department: Xu Yaxiao
2. Balance Sheet of the Company as the Parent
Unit: RMB
Item 30 June 2025 1 January 2025
62BOE Technology Group Co. Ltd. Interim Report 2025
Current assets:
Monetary assets 3715398507.00 4622109813.00
Held-for-trading financial assets 0.00 0.00
Derivative financial assets 0.00 0.00
Notes receivable 0.00 0.00
Accounts receivable 2341230498.00 3557166876.00
Accounts receivable financing 0.00 0.00
Prepayments 12293860.00 6440618.00
Other receivables 24478173061.00 32075715118.00
Including: Interest receivable 0.00 0.00
Dividends receivable 333608822.00 1625667171.00
Inventories 32265373.00 31198429.00
Including: Data resource 0.00 0.00
Contract assets 0.00 0.00
Assets held for sale 0.00 0.00
Current portion of non-current assets 0.00 0.00
Other current assets 63809938.00 143433811.00
Total current assets 30643171237.00 40436064665.00
Non-current assets:
Investments in debt obligations 0.00 0.00
Investments in other debt obligations 0.00 0.00
Long-term receivables 0.00 0.00
Long-term equity investments 212244911232.00 203191541965.00
Investments in other equity instruments 63807567.00 60783163.00
Other non-current financial assets 1620643983.00 1562089931.00
Investment property 230438679.00 235247956.00
Fixed assets 2028471550.00 1542132717.00
Construction in progress 825533955.00 1262758363.00
Productive living assets 0.00 0.00
Oil and gas assets 0.00 0.00
Right-of-use assets 32690766.00 47104764.00
Intangible assets 952341228.00 1001523422.00
Including: Data resource 0.00 0.00
Development costs 0.00 0.00
Including: Data resource 0.00 0.00
Goodwill 0.00 0.00
Long-term prepaid expense 279898276.00 290214066.00
Deferred income tax assets 0.00 0.00
Other non-current assets 1935361159.00 320460049.00
Total non-current assets 220214098395.00 209513856396.00
Total assets 250857269632.00 249949921061.00
Current liabilities:
63BOE Technology Group Co. Ltd. Interim Report 2025
Short-term borrowings 0.00 0.00
Held-for-trading financial liabilities 0.00 0.00
Derivative financial liabilities 0.00 0.00
Notes payable 0.00 0.00
Accounts payable 396312823.00 503922556.00
Advances from customers 7948597.00 13140209.00
Contract liabilities 2247834.00 719297.00
Employee benefits payable 244607661.00 453127454.00
Taxes payable 27593431.00 310771542.00
Other payables 2819966395.00 3471340673.00
Including: Interest payable 0.00 0.00
Dividends payable 6451171.00 6451170.00
Liabilities directly associated with assets held for sale 0.00 0.00
Current portion of non-current liabilities 7163038330.00 11029129176.00
Other current liabilities 620562607.00 609513850.00
Total current liabilities 11282277678.00 16391664757.00
Non-current liabilities:
Long-term borrowings 36750600000.00 41257600000.00
Bonds payable 5994363698.00 0.00
Including: Preferred shares 0.00 0.00
Perpetual bonds 0.00 0.00
Lease liabilities 4104559.00 555400.00
Long-term payables 0.00 0.00
Long-term employee benefits payable 0.00 0.00
Provisions 0.00 0.00
Deferred income 43125456.00 47137540.00
Deferred income tax liabilities 679799.00 18162044.00
Other non-current liabilities 97590793681.00 89520793681.00
Total non-current liabilities 140383667193.00 130844248665.00
Total liabilities 151665944871.00 147235913422.00
Owners’ equity:
Share capital 37413880464.00 37645016203.00
Other equity instruments 0.00 2043402946.00
Including: Preferred shares 0.00 0.00
Perpetual bonds 0.00 2043402946.00
Capital reserves 51083199440.00 51871366552.00
Less: Treasury stock 82375331.00 1216490683.00
Other comprehensive income -271072804.00 -267884908.00
Specific reserve 0.00 0.00
Surplus reserves 3879754479.00 3879754479.00
Retained earnings 7167938513.00 8758843050.00
Total owners’ equity 99191324761.00 102714007639.00
Total liabilities and owners’ equity 250857269632.00 249949921061.00
64BOE Technology Group Co. Ltd. Interim Report 2025
3. Consolidated Income Statement
Unit: RMB
Item H1 2025 H1 2024
1. Revenue 101278182135.00 93386241632.00
Including: Operating revenue 101278182135.00 93386241632.00
Interest income 0.00 0.00
Insurance premium income 0.00 0.00
Handling charge and commission income 0.00 0.00
2. Costs and expenses 97921977321.00 89892399318.00
Including: Cost of sales 86687428435.00 79425510143.00
Interest expense 0.00 0.00
Handling charge 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
0.000.00
reserve
Expenditure on policy dividends 0.00 0.00
Reinsurance premium expense 0.00 0.00
Taxes and surcharges 727647450.00 617649507.00
Selling expense 901999798.00 913914623.00
Administrative expense 2845176749.00 2833605971.00
R&D expense 6046271393.00 5806276741.00
Finance costs 713453496.00 295442333.00
Including: Interest expense 1681257729.00 1951473824.00
Interest income 968531573.00 1145670653.00
Add: Other income 1430286217.00 1077271600.00
Return on investment (“-” for loss) 436619926.00 -211962576.00
Including: Share of profit or loss of joint
-83513032.00-343013126.00
ventures and associates
Income from the derecognition of
0.000.00
financial assets at 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) 70061558.00 -50062137.00
Credit impairment loss (“-” for loss) -69119993.00 -23779955.00
Asset impairment loss (“-” for loss) -1160839005.00 -2086855010.00
Asset disposal income (“-” for loss) 36376196.00 7613281.00
3. Operating profit (“-” for loss) 4099589713.00 2206067517.00
Add: Non-operating income 137166225.00 119556239.00
Less: Non-operating expense 15969932.00 46890002.00
4. Profit before tax (“-” for loss) 4220786006.00 2278733754.00
Less: Income tax expense 1191720067.00 508068093.00
5. Net profit (“-” for net loss) 3029065939.00 1770665661.00
65BOE Technology Group Co. Ltd. Interim Report 2025
5.1 By operating continuity
5.1.1 Net profit from continuing operations (“-”
3029065939.001770665661.00
for net loss)
5.1.2 Net profit from discontinued operations (“-”
0.000.00
for net loss)
5.2 By ownership
5.2.1 Net profit attributable to shareholders of the
3246885779.002284051354.00
Company as the parent (“-” for net loss)
5.2.2 Net profit attributable to non-controlling
-217819840.00-513385693.00
interests (“-” for net loss)
6. Other comprehensive income net of tax 338554661.00 -67138521.00
Attributable to owners of the Company as the parent 338612857.00 -59116865.00
6.1 Items that will not be reclassified to profit or loss 50810816.00 -18196685.00
6.1.1 Changes caused by remeasurements on
0.000.00
defined benefit schemes
6.1.2 Other comprehensive income that will not
-5767769.00-27297767.00
be reclassified to profit or loss under the equity method
6.1.3 Changes in the fair value of investments in
56578585.009101082.00
other equity instruments
6.1.4 Changes in the fair value arising from
0.000.00
changes in own credit risk
6.1.5 Other 0.00 0.00
6.2 Items that will be reclassified to profit or loss 287802041.00 -40920180.00
6.2.1 Other comprehensive income that will be
29792726.000.00
reclassified to profit or loss under the equity method
6.2.2 Changes in the fair value of investments in
0.000.00
other debt obligations
6.2.3 Other comprehensive income arising from
0.000.00
the reclassification of financial assets
6.2.4 Credit impairment allowance for
0.000.00
investments in other debt obligations
6.2.5 Reserve for cash flow hedges 0.00 0.00
6.2.6 Differences arising from the translation of
258009315.00-40920180.00
foreign currency-denominated financial statements
6.2.7 Other 0.00 0.00
Attributable to non-controlling interests -58196.00 -8021656.00
7. Total comprehensive income 3367620600.00 1703527140.00
Attributable to owners of the Company as the parent 3585498636.00 2224934489.00
Attributable to non-controlling interests -217878036.00 -521407349.00
8. Earnings per share
8.1 Basic earnings per share 0.09 0.06
8.2 Diluted earnings per share 0.09 0.06
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 Chairman of the Executive Committee: Feng
Qiang
Chief Financial Officer: Yang Xiaoping Head of the financial department: Xu Yaxiao
4. Income Statement of the Company as the Parent
Unit: RMB
Item H1 2025 H1 2024
1. Operating revenue 2209305359.00 1876763421.00
Less: Cost of sales 5251116.00 4889412.00
66BOE Technology Group Co. Ltd. Interim Report 2025
Taxes and surcharges 21951042.00 24067028.00
Selling expense 0.00 0.00
Administrative expense 529405609.00 633418944.00
R&D expense 1145400765.00 1098730985.00
Finance costs 232338525.00 224860465.00
Including: Interest expense 253344446.00 253696296.00
Interest income 12655364.00 25182705.00
Add: Other income 42491176.00 467148637.00
Return on investment (“-” for loss) -1449665.00 861398826.00
Including: Share of profit or loss of joint
-32402599.00-224688237.00
ventures and associates
Income from the derecognition of
0.000.00
financial assets at amortized cost (“-” for loss)
Net gain on exposure hedges (“-” for loss) 0.00 0.00
Gain on changes in fair value (“-” for loss) 0.00 0.00
Credit impairment loss (“-” for loss) 0.00 0.00
Asset impairment loss (“-” for loss) 0.00 -78547.00
Asset disposal income (“-” for loss) 0.00 221.00
2. Operating profit (“-” for loss) 315999813.00 1219265724.00
Add: Non-operating income 2819521.00 4956825.00
Less: Non-operating expense 1079944.00 20325218.00
3. Profit before tax (“-” for loss) 317739390.00 1203897331.00
Less: Income tax expense 22032095.00 -14555686.00
4. Net profit (“-” for net loss) 295707295.00 1218453017.00
4.1 Net profit from continuing operations (“-” for net
295707295.001218453017.00
loss)
4.2 Net profit from discontinued operations (“-” for
0.000.00
net loss)
5. Other comprehensive income net of tax -3187896.00 -41074397.00
5.1 Items that will not be reclassified to profit or loss -3187896.00 -41074397.00
5.1.1 Changes caused by remeasurements on
0.000.00
defined benefit schemes
5.1.2 Other comprehensive income that will not
-5758639.00-27285865.00
be reclassified to profit or loss under the equity method
5.1.3 Changes in the fair value of investments in
2570743.00-13788532.00
other equity instruments
5.1.4 Changes in the fair value arising from
0.000.00
changes in own credit risk
5.1.5 Other 0.00 0.00
5.2 Items that will be reclassified to profit or loss 0.00 0.00
5.2.1 Other comprehensive income that will be
0.000.00
reclassified to profit or loss under the equity method
5.2.2 Changes in the fair value of investments in
0.000.00
other debt obligations
5.2.3 Other comprehensive income arising from
0.000.00
the reclassification of financial assets
5.2.4 Credit impairment allowance for
0.000.00
investments in other debt obligations
5.2.5 Reserve for cash flow hedges 0.00 0.00
5.2.6 Differences arising from the translation of 0.00 0.00
67BOE Technology Group Co. Ltd. Interim Report 2025
foreign currency-denominated financial statements
5.2.7 Other 0.00 0.00
6. Total comprehensive income 292519399.00 1177378620.00
7. Earnings per share
7.1 Basic earnings per share 0.008 0.03
7.2 Diluted earnings per share 0.008 0.03
5. Consolidated Cash Flow Statement
Unit: RMB
Item H1 2025 H1 2024
1. Cash flows from operating activities:
Proceeds from sale of commodities and rendering of
106607105952.00101341162170.00
services
Net increase in customer deposits and interbank
0.000.00
deposits
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
0.000.00
holders
Interest handling charges and commissions received 0.00 0.00
Net increase in interbank loans obtained 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 rebates 5490090834.00 4529503447.00
Cash generated from other operating activities 4998741237.00 1940483204.00
Subtotal of cash generated from operating activities 117095938023.00 107811148821.00
Payments for commodities and services 77391480337.00 66198070977.00
Net increase in loans and advances to customers 0.00 0.00
Net increase in deposits in the central bank and in
0.000.00
interbank loans granted
Payments for claims on original insurance contracts 0.00 0.00
Net increase in interbank loans granted 0.00 0.00
Interest handling charges and commissions paid 0.00 0.00
Policy dividends paid 0.00 0.00
Cash paid to and for employees 11329436980.00 10095625332.00
Taxes paid 3262142807.00 3028368781.00
Cash used in other operating activities 2376570813.00 3610114439.00
Subtotal of cash used in operating activities 94359630937.00 82932179529.00
Net cash generated from/used in operating activities 22736307086.00 24878969292.00
2. Cash flows from investing activities:
Proceeds from disinvestment 24510460667.00 17600417457.00
Return on investment 699326551.00 470013790.00
Net proceeds from the disposal of fixed assets
11689182.0032014720.00
intangible assets and other long-lived assets
Net proceeds from the disposal of subsidiaries and
0.000.00
other business units
Cash generated from other investing activities 173625393.00 1250747245.00
Subtotal of cash generated from investing activities 25395101793.00 19353193212.00
Payments for the acquisition of fixed assets 21332237568.00 12322541255.00
68BOE Technology Group Co. Ltd. Interim Report 2025
intangible assets and other long-lived assets
Payments for investments 25162317676.00 22503935768.00
Net increase in pledged loans granted 0.00 0.00
Net payments for the acquisition of subsidiaries and
0.000.00
other business units
Cash used in other investing activities 125822201.00 40770633.00
Subtotal of cash used in investing activities 46620377445.00 34867247656.00
Net cash generated from/used in investing activities -21225275652.00 -15514054444.00
3. Cash flows from financing activities:
Capital contributions received 4224791800.00 2095409000.00
Including: Capital contributions by non-controlling
4224791800.002095409000.00
interests to subsidiaries
Borrowings raised 30193155843.00 23153021498.00
Cash generated from other financing activities 123902639.00 0.00
Subtotal of cash generated from financing activities 34541850282.00 25248430498.00
Repayment of borrowings 36635251635.00 24815200527.00
Interest and dividends paid 4076249335.00 3789619645.00
Including: Dividends paid by subsidiaries to non-
10574619.0027452890.00
controlling interests
Cash used in other financing activities 7592864127.00 468531114.00
Subtotal of cash used in financing activities 48304365097.00 29073351286.00
Net cash generated from/used in financing activities -13762514815.00 -3824920788.00
4. Effect of foreign exchange rates changes on cash and
55584136.00323826553.00
cash equivalents
5. Net increase in cash and cash equivalents -12195899245.00 5863820613.00
Add: Cash and cash equivalents beginning of the
62005252511.0052092981748.00
period
6. Cash and cash equivalents end of the period 49809353266.00 57956802361.00
6. Cash Flow Statement of the Company as the Parent
Unit: RMB
Item H1 2025 H1 2024
1. Cash flows from operating activities:
Proceeds from sale of commodities and rendering of
3356857499.004736262755.00
services
Tax rebates 2007.00 0.00
Cash generated from other operating activities 214045555.00 1295071133.00
Subtotal of cash generated from operating activities 3570905061.00 6031333888.00
Payments for commodities and services 687792767.00 591872773.00
Cash paid to and for employees 843255241.00 778512264.00
Taxes paid 468518758.00 474145522.00
Cash used in other operating activities 628389154.00 463827508.00
Subtotal of cash used in operating activities 2627955920.00 2308358067.00
Net cash generated from/used in operating activities 942949141.00 3722975821.00
2. Cash flows from investing activities:
Proceeds from disinvestment 179950500.00 2795442821.00
Return on investment 1398958777.00 1455553947.00
Net proceeds from the disposal of fixed assets
294103.00147709.00
intangible assets and other long-lived assets
Net proceeds from the disposal of subsidiaries and
0.000.00
other business units
Cash generated from other investing activities 7139928711.00 2380713721.00
Subtotal of cash generated from investing activities 8719132091.00 6631858198.00
Payments for the acquisition of fixed assets 182776926.00 116197241.00
69BOE Technology Group Co. Ltd. Interim Report 2025
intangible assets and other long-lived assets
Payments for investments 11018887123.00 3793135158.00
Net payments for the acquisition of subsidiaries and
0.000.00
other business units
Cash used in other investing activities 640000000.00 5020000000.00
Subtotal of cash used in investing activities 11841664049.00 8929332399.00
Net cash generated from/used in investing activities -3122531958.00 -2297474201.00
3. Cash flows from financing activities:
Capital contributions received 0.00 0.00
Borrowings raised 8445000000.00 11485500000.00
Cash generated from other financing activities 9070000000.00 1000000000.00
Subtotal of cash generated from financing activities 17515000000.00 12485500000.00
Repayment of borrowings 10791250000.00 7549200000.00
Interest and dividends paid 2507028893.00 1829552535.00
Cash used in other financing activities 3116848782.00 1505984733.00
Subtotal of cash used in financing activities 16415127675.00 10884737268.00
Net cash generated from/used in financing activities 1099872325.00 1600762732.00
4. Effect of foreign exchange rates changes on cash and
-5526253.003451653.00
cash equivalents
5. Net increase in cash and cash equivalents -1085236745.00 3029716005.00
Add: Cash and cash equivalents beginning of the
4442011688.004249329821.00
period
6. Cash and cash equivalents end of the period 3356774943.00 7279045826.00
70BOE Technology Group Co. Ltd. Interim Report 2025
7. Consolidated Statements of Changes in Owners’ Equity
H1 2025
Unit: RMB
H1 2025
Equity attributable to owners of the Company as the parent
Other equity
instruments
Ge
Item Pr ne Non-
ef Less: Other Total owners’Share Capital Specific Surplus ral Retained Oth controlling
err Ot Treasury comprehens Subtotal equitycapital Perpetual reserves reserve reserves res earnings er
interests
ed he stock ive income
bonds er
sh r ve
ar
es
1. Balance as at
37645-132937
the end of the 0. 2043402 0. 52207573 12164906 1392276 38797544 0. 39410894857. 716086164 204546171
016203117182380.00555308.
period of prior 00 946.00 00 706.00 83.00 64.00 79.00 00 00 36.00 744.00.0064.0000
year
Add:
Adjustment for
0.0.0.
change in 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
000000
accounting
policy
Adjustment
0.0.0.
for correction of 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
000000
previous error
Other 0. 0. 0.
0.000.000.000.000.000.000.000.000.000.000.000.00
adjustments 00 00 00
2. Balance as at
37645-132937
the beginning of 0. 2043402 0. 52207573 12164906 1392276 38797544 0. 39410894857. 716086164 204546171
016203117182380.00555308.
the Reporting 00 946.00 00 706.00 83.00 64.00 79.00 00 00 36.00 744.00.0064.0000
Period
3. Increase/ - 0. - 0. - - 33861285 5228057 0.00 0. 1360273947.0 0.00 537673 - -
71BOE Technology Group Co. Ltd. Interim Report 2025
decrease in the 231135 00 2043402 00 55697673 11341153 7.00 1.00 00 0 10.00 136303512 130926781
period (“-” for 739.00 946.00 2.00 52.00 5.00 5.00
decrease)
3.1 Total -
0.0.338612850.3246885779.0358549336762060
comprehensive 0.00 0.00 0.00 0.00 0.00 0.00 0.00 217878036.
00007.000008636.000.00
income 00
3.2 Capital
-------
increased and 0. 0. 0.
231135198932078815381113411530.000.000.000.000.00187449889181615.276367657
reduced by 00 00 00
739.00755.005.0052.004957.00002.00
owners
3.2.1 Ordinary - -
0.0.0.
shares increased 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 889294700. 889294700.
000000
by owners 00 00
3.2.2 Capital
increased by - - - -
0.0.0.
holders of other 0.00 1989320 10679245. 0.00 0.00 0.00 0.00 0.00 0.00 200000 0.00 200000000
000000
equity 755.00 00 0000.00 0.00
instruments
3.2.3 Share-
based payments 0. 0. 1265498.0 0. 126549
0.000.000.000.000.000.000.000.00113085.001378583.00
included in 00 00 0 00 8.00
owners’ equity
---
0.0.0.124239124239545.
3.2.4 Other 231135 0.00 77874006 11341153 0.00 0.00 0.00 0.00 0.00 0.00
000000545.0000
739.008.0052.00
-----
3.3 Profit 0. 0. 0.
0.0054082190.000.000.000.000.001886611832.00.0019406956954499.0199764852
distribution 00 00 00
1.0004023.0002.00
3.3.1
Appropriation 0. 0. 0.
0.000.000.000.000.000.000.000.000.000.000.000.00
to surplus 00 00 00
reserves
3.3.2
Appropriation 0. 0. 0.
0.000.000.000.000.000.000.000.000.000.000.000.00
to general 00 00 00
reserve
72BOE Technology Group Co. Ltd. Interim Report 2025
3.3.3
----
Appropriation 0. 0. 0.
0.000.000.000.000.000.000.001870694023.00.0018706956954499.0192764852
to owners (or 00 00 00
04023.0002.00
shareholders)
---
0.0.0.
3.3.4 Other 0.00 5408219 0.00 0.00 0.00 0.00 0.00 -15917809.00 0.00 700000 0.00 70000000.0
000000
1.0000.000
3.4 Transfers
0.0.0.
within owners’ 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
000000
equity
3.4.1 Increase in
capital (or share 0. 0. 0.
0.000.000.000.000.000.000.000.000.000.000.000.00
capital) from 00 00 00
capital reserves
3.4.2 Increase in
capital (or share 0. 0. 0.
0.000.000.000.000.000.000.000.000.000.000.000.00
capital) from 00 00 00
surplus reserves
3.4.3 Loss
0.0.0.
offset by 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
000000
surplus reserves
3.4.4 Changes
in defined
benefit schemes 0. 0. 0.
0.000.000.000.000.000.000.000.000.000.000.000.00
transferred to 00 00 00
retained
earnings
3.4.5 Other
comprehensive
income 0. 0. 0.
0.000.000.000.000.000.000.000.000.000.000.000.00
transferred to 00 00 00
retained
earnings
0.0.0.
3.4.6 Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
000000
3.5 Specific 0.00 0. 0.00 0. 0.00 0.00 0.00 5228057 0.00 0. 0.00 0.00 522805 10571272.0 62851843.0
73BOE Technology Group Co. Ltd. Interim Report 2025
reserve 00 00 1.00 00 71.00 0 0
3.5.1 Increase in 0. 0. 1108267 0. 110826 28238364.0 139065112.
0.000.000.000.000.000.000.000.00
the period 00 00 48.00 00 748.00 0 00
3.5.2 Used in 0. 0. 5854617 0. 585461 17667092.0 76213269.0
0.000.000.000.000.000.000.000.00
the period 00 00 7.00 00 77.00 0 0
-
0.0.231177080.23117721584836.0
3.6 Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 209592247.
00003.0000083.000
00
4. Balance as at
37413-132991
the end of the 0. 0. 51650596 82375331. 1915082 38797544 0. 40771168804. 702455813 203236903
8804640.00833211000.00322618.
Reporting 00 00 974.00 00 35.00 79.00 00 00 11.00 929.00.007.0000
Period
H1 2024
Unit: RMB
H1 2024
Equity attributable to owners of the Company as the parent
Other equity G
instruments en
Item Other er Non-Less: Ot Total owners’
Share Pre Capital comprehen Specific Surplus al Retained controlling
Treasury he Subtotal equity
capital fer OtPerpetual reserves sive reserve reserves re earnings interests
red he stock r
bonds income se
sha r rv
res e
1. Balance as at
-
the end of the 37652529 0.0 2043402 0. 52113580 46203624 6647240 3571778 0. 35579576 0. 129428307 68370379 19779868631
1136997
period of prior 195.00 0 946.00 00 746.00 0.00 2.00 635.00 00 607.00 00 067.00 252.00 9.00
224.00
year
Add:
Adjustment for
0.00.0.0.
change in 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0000000
accounting
policy
Adjustment for 0.00 0.0 0.00 0. 0.00 0.00 0.00 0.00 0.00 0. 0.00 0. 0.00 0.00 0.00
74BOE Technology Group Co. Ltd. Interim Report 2025
correction of 0 00 00 00
previous error
Other 0.0 0. 0. 0.
0.000.000.000.000.000.000.000.000.000.000.00
adjustments 0 00 00 00
2. Balance as at
-
the beginning of 37652529 0.0 2043402 0. 52113580 46203624 6647240 3571778 0. 35579576 0. 129428307 68370379 19779868631
1136997
the Reporting 195.00 0 946.00 00 746.00 0.00 2.00 635.00 00 607.00 00 067.00 252.00 9.00
224.00
Period
3. Increase/
----
decrease in the 0.0 0. 94337324. 5420661 0. 11348368 0. 14057605 13185860 2724346523.
2547779.0352876723390360736884510.00
period (“-” for 0 00 00 6.00 00 66.00 00 11.00 12.00 00
01.006.00.00
decrease)
3.1 Total - -
0.00.0.228405130.222493441703527140.
comprehensive 0.00 0.00 0.00 0.00 59116865 0.00 0.00 52140734
0000054.000089.0000
income .00 9.00
3.2 Capital
--
increased and 0.0 0. 76770363. 0. 0. 305381224 21015974 2406978678.
2547779.00.00231158640.000.000.000.00
reduced by 0 00 00 00 00 .00 54.00 00
00.00
owners
3.2.1 Ordinary
0.00.0.0.209540902095409000.
shares increased 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
000000000.0000
by owners
3.2.2 Capital
increased by
0.00.0.0.
holders of other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0000000
equity
instruments
3.2.3 Share-
-
based payments 0.0 0. 80207317. 0. 0. 305381224 6188454.0
0.000.00225173900.000.000.000.00311569678.00
included in 0 00 00 00 00 .00 0
7.00
owners’ equity
---
0.00.0.0.
3.2.4 Other 2547779.0 0.00 3436954.0 5984733. 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0000000
0000
3.3 Profit 0.00 0.0 - 0. 0.00 - 0.00 0.00 0.00 0. - 0. - - -
75BOE Technology Group Co. Ltd. Interim Report 2025
distribution 0 3528767 00 2744966. 00 11637860 00 11963287 64130153. 1260458932.
1.000074.0079.000000
3.3.1
0.00.0.0.
Appropriation to 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0000000
surplus reserves
3.3.2
0.00.0.0.
Appropriation to 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0000000
general reserve
3.3.3
-----
Appropriation to 0.0 0. 0. 0.
0.000.000.002744966.0.000.000.00112907371126328764130153.1190458930.
owners (or 0 00 00 00
0043.0077.000000
shareholders)
---
0.00.0.0.
3.3.4 Other 0.00 3528767 0.00 0.00 0.00 0.00 0.00 34712331. 70000002. 0.00 -70000002.00
0000000
1.000000
3.4 Transfers -
0.00.0.14571586.0.
within owners’ 0.00 0.00 0.00 0.00 14571586 0.00 0.00 0.00 0.00 0.00
000000000
equity .00
3.4.1 Increase in
capital (or share 0.0 0. 0. 0.
0.000.000.000.000.000.000.000.000.000.000.00
capital) from 0 00 00 00
capital reserves
3.4.2 Increase in
capital (or share 0.0 0. 0. 0.
0.000.000.000.000.000.000.000.000.000.000.00
capital) from 0 00 00 00
surplus reserves
3.4.3 Loss offset
0.00.0.0.
by surplus 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0000000
reserves
3.4.4 Changes in
defined benefit
schemes 0.0 0. 0. 0.
0.000.000.000.000.000.000.000.000.000.000.00
transferred to 0 00 00 00
retained
earnings
76BOE Technology Group Co. Ltd. Interim Report 2025
3.4.5 Other
comprehensive
-
income 0.0 0. 0. 14571586. 0.
0.000.000.000.00145715860.000.000.000.000.00
transferred to 0 00 00 00 00.00
retained
earnings
0.00.0.0.
3.4.6 Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0000000
3.5 Specific 0.0 0. 5420661 0. 0. 54206616. 10714104.
0.000.000.000.000.000.000.0064920720.00
reserve 0 00 6.00 00 00 00 00
3.5.1 Increase in 0.0 0. 1008700 0. 0. 100870034 22848633.
0.000.000.000.000.000.000.00123718667.00
the period 0 00 34.00 00 00 .00 00
3.5.2 Used in 0.0 0. 4666341 0. 0. 46663418. 12134529.
0.000.000.000.000.000.000.0058797947.00
the period 0 00 8.00 00 00 00 00
-
0.00.17566961.0.0.17566961.-
3.6 Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 20818804
00000000000190621083.00
4.00
4. Balance as at
-
the end of the 37649981 0.0 2008115 0. 52207918 22813263 1206790 3571778 0. 36714413 0. 130834067 69688965 20052303284
1210685
Reporting 416.00 0 275.00 00 070.00 4.00 18.00 635.00 00 473.00 00 578.00 264.00 2.00
675.00
Period
8. Statements of Changes in Owners’ Equity of the Company as the Parent
H1 2025
Unit: RMB
H1 2025
Other equity instruments Spe
Pre cifi
Item Otherferr Less: Treasury c Surplus Retained OthShare capital Perpetual Oth Capital reserves comprehensi Total owners’ equity
ed stock res reserves earnings er
bonds er ve income
sha erv
res e
1. Balance as at 37645016203.00 0.0 2043402946. 0.0 51871366552. 1216490683. - 0.0 3879754479. 8758843050. 0.0 102714007639.00
77BOE Technology Group Co. Ltd. Interim Report 2025
the end of the 0 00 0 00 00 267884908. 0 00 00 0
period of prior 00
year
Add:
Adjustment for
0.00.00.00.0
change in 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0000
accounting
policy
Adjustment
0.00.00.00.0
for correction of 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0000
previous error
Other 0.0 0.0 0.0 0.0
0.000.000.000.000.000.000.000.00
adjustments 0 0 0 0
2. Balance as at
-
the beginning of 0.0 2043402946. 0.0 51871366552. 1216490683. 0.0 3879754479. 8758843050. 0.0
37645016203.00267884908.102714007639.00
the Reporting 0 00 0 00 00 0 00 00 0
00
Period
3. Increase/
---
decrease in the 0.0 0.0 0.0 0.0
-231135739.002043402946.-788167112.001134115352.-3187896.000.001590904537.-3522682878.00
period (“-” for 0 0 0 0
000000
decrease)
3.1 Total
0.00.00.00.0
comprehensive 0.00 0.00 0.00 0.00 -3187896.00 0.00 295707295.00 292519399.00
0000
income
3.2 Capital
--
increased and 0.0 0.0 0.0 0.0
-231135739.001989320755.-788040730.001134115352.0.000.000.00-1874381872.00
reduced by 0 0 0 0
0000
owners
3.2.1 Ordinary
0.00.00.00.0
shares increased 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0000
by owners
3.2.2 Capital -
increased by 0.0 0.0 0.0 0.00.00 1989320755. -10679245.00 0.00 0.00 0.00 0.00 -2000000000.00
holders of other 0 0 0 000
equity
78BOE Technology Group Co. Ltd. Interim Report 2025
instruments
3.2.3 Share-
based payments 0.0 0.0 0.0 0.0
0.000.001378583.000.000.000.000.001378583.00
included in 0 0 0 0
owners’ equity
-
0.00.00.00.0
3.2.4 Other -231135739.00 0.00 -778740068.00 1134115352. 0.00 0.00 0.00 124239545.00
0000
00
-
3.3 Profit 0.0 0.0 0.0 0.0
0.00-54082191.000.000.000.000.001886611832.-1940694023.00
distribution 0 0 0 0
00
3.3.1
0.00.00.00.0
Appropriation to 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0000
surplus reserves
3.3.2
-
Appropriation to 0.0 0.0 0.0 0.0
0.000.000.000.000.000.001870694023.-1870694023.00
owners (or 0 0 0 0
00
shareholders)
0.00.00.00.0
3.3.3 Other 0.00 -54082191.00 0.00 0.00 0.00 0.00 -15917809.00 -70000000.00
0000
3.4 Transfers
0.00.00.00.0
within owners’ 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0000
equity
3.4.1 Increase in
capital (or share 0.0 0.0 0.0 0.0
0.000.000.000.000.000.000.000.00
capital) from 0 0 0 0
capital reserves
3.4.2 Increase in
capital (or share 0.0 0.0 0.0 0.0
0.000.000.000.000.000.000.000.00
capital) from 0 0 0 0
surplus reserves
3.4.3 Loss offset
0.00.00.00.0
by surplus 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0000
reserves
0.00.00.00.0
3.4.4 Changes 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000 0 0 0
79BOE Technology Group Co. Ltd. Interim Report 2025
in defined
benefit schemes
transferred to
retained
earnings
3.4.5 Other
comprehensive
income 0.0 0.0 0.0 0.0
0.000.000.000.000.000.000.000.00
transferred to 0 0 0 0
retained
earnings
0.00.00.00.0
3.4.6 Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0000
3.5 Specific 0.0 0.0 0.0 0.0
0.000.000.000.000.000.000.000.00
reserve 0 0 0 0
3.5.1 Increase in 0.0 0.0 0.0 0.0
0.000.000.000.000.000.000.000.00
the period 0 0 0 0
3.5.2 Used in 0.0 0.0 0.0 0.0
0.000.000.000.000.000.000.000.00
the period 0 0 0 0
0.00.00.00.0
3.6 Other 0.00 0.00 -126382.00 0.00 0.00 0.00 0.00 -126382.00
0000
4. Balance as at
-
the end of the 0.0 0.0 51083199440. 0.0 3879754479. 7167938513. 0.0
37413880464.000.0082375331.00271072804.99191324761.00
Reporting 0 0 00 0 00 00 0
00
Period
H1 2024
Unit: RMB
H1 2024
Other equity instruments Spe
Pre cifi
Item Less: Otherferr c Surplus Retained OthShare capital Perpetual Oth Capital reserves Treasury comprehensiv Total owners’ equity
ed res reserves earnings er
bonds er stock e income
sha erv
res e
80BOE Technology Group Co. Ltd. Interim Report 2025
1. Balance as at
-
the end of the 37652529195. 0.0 2043402946. 0.0 51741820724. 462036240. 0.0 3571778635. 7186134196. 0.0
296433056.101437196400.00
period of prior 00 0 00 0 00 00 0 00 00 0
00
year
Add: Adjustment
for change in 0.0 0.0 0.0 0.0
0.000.000.000.000.000.000.000.00
accounting 0 0 0 0
policy
Adjustment
0.00.00.00.0
for correction of 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0000
previous error
Other 0.0 0.0 0.0 0.0
0.000.000.000.000.000.000.000.00
adjustments 0 0 0 0
2. Balance as at
-
the beginning of 37652529195. 0.0 2043402946. 0.0 51741820724. 462036240. 0.0 3571778635. 7186134196. 0.0
296433056.101437196400.00
the Reporting 00 0 00 0 00 00 0 00 00 0
00
Period
3. Increase/
--
decrease in the 0.0 0.0 0.0 0.0
-2547779.00-35287671.0083129475.00233903606.41074397.00.0054666943.00292790177.00
period (“-” for 0 0 0 0
000
decrease)
3.1 Total -
0.00.00.01218453017.0.0
comprehensive 0.00 0.00 0.00 0.00 41074397.0 0.00 1177378620.00
000000
income 0
3.2 Capital
-
increased and 0.0 0.0 0.0 0.0
-2547779.000.0082958828.00231158640.0.000.000.00311569689.00
reduced by 0 0 0 0
00
owners
3.2.1 Ordinary
0.00.00.00.0
shares increased 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0000
by owners
3.2.2 Capital
increased by 0.0 0.0 0.0 0.00.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
holders of other 0 0 0 0
equity
81BOE Technology Group Co. Ltd. Interim Report 2025
instruments
3.2.3 Share-
-
based payments 0.0 0.0 0.0 0.0
0.000.0086395782.00225173907.0.000.000.00311569689.00
included in 0 0 0 0
00
owners’ equity
0.00.00.00.0
3.2.4 Other -2547779.00 0.00 -3436954.00 -5984733.00 0.00 0.00 0.00 0.00
0000
-
3.3 Profit 0.0 0.0 0.0 0.0
0.00-35287671.000.00-2744966.000.000.001163786074.-1196328779.00
distribution 0 0 0 0
00
3.3.1
0.00.00.00.0
Appropriation to 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0000
surplus reserves
3.3.2
-
Appropriation to 0.0 0.0 0.0 0.0
0.000.000.00-2744966.000.000.001129073743.-1126328777.00
owners (or 0 0 0 0
00
shareholders)
0.00.00.00.0
3.3.3 Other 0.00 -35287671.00 0.00 0.00 0.00 0.00 -34712331.00 -70000002.00
0000
3.4 Transfers
0.00.00.00.0
within owners’ 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0000
equity
3.4.1 Increase in
capital (or share 0.0 0.0 0.0 0.0
0.000.000.000.000.000.000.000.00
capital) from 0 0 0 0
capital reserves
3.4.2 Increase in
capital (or share 0.0 0.0 0.0 0.0
0.000.000.000.000.000.000.000.00
capital) from 0 0 0 0
surplus reserves
3.4.3 Loss offset
0.00.00.00.0
by surplus 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0000
reserves
3.4.4 Changes in 0.0 0.0 0.0 0.00.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
defined benefit 0 0 0 0
82BOE Technology Group Co. Ltd. Interim Report 2025
schemes
transferred to
retained earnings
3.4.5 Other
comprehensive
0.00.00.00.0
income 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0000
transferred to
retained earnings
0.00.00.00.0
3.4.6 Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0000
3.5 Specific 0.0 0.0 0.0 0.0
0.000.000.000.000.000.000.000.00
reserve 0 0 0 0
3.5.1 Increase in 0.0 0.0 0.0 0.0
0.000.000.000.000.000.000.000.00
the period 0 0 0 0
3.5.2 Used in the 0.0 0.0 0.0 0.0
0.000.000.000.000.000.000.000.00
period 0 0 0 0
0.00.00.00.0
3.6 Other 0.00 0.00 170647.00 0.00 0.00 0.00 0.00 170647.00
0000
4. Balance as at -
37649981416.0.02008115275.0.051824950199.228132634.0.03571778635.7240801139.0.0
the end of the 337507453. 101729986577.00
0000000000000000
Reporting Period 00
83BOE Technology Group Co. Ltd. Interim Report 2025
III Company Profile
BOE Technology Group Company Limited (the “Company”) is a company limited by shares established on 9 April 1993 in
Beijing with its head office located at Beijing. The controlling shareholder of the Company and the Company’s actual controller is
Beijing Electronics Holdings Co. Ltd. (“Beijing Electronics Holdings”).The Company and its subsidiaries (referred to as the “Group”) comprise five main business segments: display business Internet of
Things (IoT) innovation business sensor business MLED business smart medicine engineering business. For information about
the subsidiaries of the Company refer to Note X.IV Basis for the Preparation of Financial Statements
1. Preparation Basis
The financial statements have been prepared on the basis of going concern.
2. Continuing Operations
The Company had the continuing operations ability within 12 months since the end of the Reporting Period.V Significant Accounting Policies and Estimates
Reminder of the specific accounting policies and estimates:
Naught
1. Statement of Compliance with the Accounting Standards for Business Enterprises
The financial statements have been prepared in accordance with the requirements of Accounting Standards for Business
Enterprises issued by the Ministry of Finance (hereinafter referred to as MOF). These financial statements present truly and
completely the consolidated financial position and financial position as of 30 June 2025 the consolidated results of operations and
results of operations and the consolidated cash flows and cash flows in the first half year of 2025 of the Company.These financial statements also comply with the disclosure requirements of “Regulation on the Preparation of InformationDisclosures by Companies Issuing Securities No. 15: General Requirements for Financial Reports” as revised by the China
Securities Regulatory Commission (“CSRC”) in 2023.
2. Accounting period
The accounting year of the Group is from January 1st to June 30st.
3. Operating Cycle
The Company regarded the period from purchasing the assets for processing to realizing the cash or cash equivalents as the normal
operating cycle. The operating cycle of the main business of the Company usually is less than 12 months.
84BOE Technology Group Co. Ltd. Interim Report 2025
4. Recording Currency
The Company’s functional currency is Renminbi. These financial statements are presented in Renminbi. The basis of choosing the
functional currency for the Company and its subsidiaries is that it’s the pricing and settlement currency for the main business. Some
subsidiaries of the Company adopt the currency other than RMB as the recording currency. The Company translates the foreign
currency financial statement of subsidiaries when compiling the financial statement in accordance with V Significant Accounting
Policies and Estimates-10. Foreign Currency Businesses and Translation of Foreign Currency Financial Statements.
5. Method Used to Determine the Materiality Threshold and the Basis for Selection
□Applicable □ Not applicable
Item Materiality threshold
Significant receivables for which provisions for bad and
doubtful are individually assessed recoveries or reversals and Amount of the individual accounts receivable ≥ RMB50
written-offs million
Significant prepayments contract liabilities accounts payable Amount of the individual prepayments exceeds 0.5% of the
and other payables with ageing of more than one year Group’s total assets
Significant construction projects in progress Accumulated carrying amount of individual item at the end ofthe period exceeds RMB10 billion
Significant non-wholly-owned subsidiaries， joint ventures or Total assets of non-wholly-owned subsidiaries exceed 10% ofthe Group’s total assets or total revenue of non-wholly-ownedassociates subsidiaries exceed 10% of the Group’s total revenue
Significant capitalized R&D projects Accumulated expenditure of individual R&D project exceeds0.5% of the Group’s total assets
6. Accounting Treatments for a Business Combination Involving Entities Under and those not Under
Common Control
(1) Business combination involving entities under common control
A business combination involving enterprises under common control is a business combination in which all of the combining
enterprises are ultimately controlled by the same party or parties both before and after the business combination and that control is
not transitory. The assets and liabilities obtained are measured at the carrying amounts as recorded by the enterprise being combined
at the combination date. The difference between the carrying amount of the net assets obtained and the carrying amount of
consideration paid for the combination (or the total face value of shares issued) is adjusted to share premium in the capital reserve. If
the balance of share premium is insufficient any excess is adjusted to retained earnings. Other direct expenses occur when the Group
conducting business combinations is recognized in current profit and loss. The combination date is the date on which one combining
enterprise effectively obtains control of the other combining enterprises.
(2) Business combinations involving entities not under common control
A business combination involving entities not under common control is a business combination in which all of the combining entities
are not ultimately controlled by the same party or parties both before and after the business combination. When the Group acts as the
combination party the cost of a business combination paid by the acquirer is the aggregate of the fair value at the acquisition date of
assets given (including share equity of the acquiree held before the combination date) liabilities incurred or assumed and equity
securities issued by the acquirer. Any excess of the cost of a business combination over the acquirer’s interest in the fair value of the
acquiree’s identifiable net assets is recognized as goodwill while any excess of the acquirer’s interest in the fair value of the
acquiree’s identifiable net assets over the cost of a business combination is recognized in profit or loss. The cost of equity securities
or liability securities as on combination consideration offering is recognized in initial recording capital on equity securities or liability
securities. Other direct expenses occur when the Group conducting business combinations is recognized in current profit and loss.The difference between the fair value and the carrying amount of the assets given is recognized in profit or loss. The Group at the
85BOE Technology Group Co. Ltd. Interim Report 2025
acquisition date recognized the acquiree’s identifiable asset liabilities and contingent liabilities at their fair value at that date. The
acquisition date is the date on which the acquirer effectively obtains control of the acquiree.In a business combination not under same control realized by two or more transactions of exchange for the equities of the purchases
held before the purchase date the Group will execute the remeasurement according to the fair value of the equity on the purchase
date with the difference between the fair value and its book value be recorded in the current investment income or other
comprehensive income. The other comprehensive income which could be reclassified in the gains and losses afterwards under the
measurement of the equity method and the changes of the equities of the other owners that involved with the afterwards equity of the
purchases held before the purchase date should be transferred in the current investment income. When the equity in the acquiree held
before the acquisition date is the investment in equity instrument at fair value through other comprehensive income the other
comprehensive income recognized before the acquisition date shall be transferred into retained earnings on the acquisition date.
7. Criterion of Control and Preparation Methods for Consolidated Financial Statements
(1) General principle
The scope of consolidated financial statements is determined on the base of control which comprise the Company and its
subsidiaries. The term “control” is the power of the Group upon an investee with which it can take part in relevant activities of the
investee to obtain variable returns and is able to influence the amount of returns. When judging whether the Group owns the right on
the investees or not the Group only considers the substantive rights related to the investees (including the substantive rights enjoyed
by the Group itself and by the other parties). The financial status operating results and cash flow of subsidiaries are included in the
consolidated financial statements from the date that control commences until the date that control ceases.Equity profit or loss attributable to minority shareholders is presented separately under the item of shareholders’ equity in
consolidated income statement and the net profits in the consolidated income statement.If current loss shoulder by minority shareholders of a subsidy over the proportion enjoyed by minority shareholders in a subsidy at
owners’ equity at period-begin its balance still offset minority shareholders’ equity.When the accounting period or accounting policies of a subsidiary are different from those of the Company the Company makes
necessary adjustments to the financial statements of the subsidiary based on the Company’s own accounting period or accounting
policies. Intra-group balances and transactions and any unrealized profit or loss arising from intra-group transactions are eliminated
in preparing the consolidated financial statements. Unrealized losses resulting from intra-group transactions are eliminated in the
same way as unrealized gains but only to the extent that there is no evidence of impairment.
(2) Acquiring the subsidiaries from merger
Where a subsidiary was acquired during the Reporting Period through a business combination involving entities under common
control the financial statements of the subsidiary are included in the consolidated financial statements based on book value in the
consolidated balance sheet of the subsidiary’s assets liabilities and results of operations as if the combination had occurred at the
date that common control was established. Therefore the opening balances and the comparative figures of the consolidated financial
statements are restated.Where a subsidiary was acquired during the Reporting Period through a business combination involving entities not under common
control when prepared the consolidated financial statements the Company shall included the acquired subsidiaries into the
consolidated scope from the acquisition date basing on the fair value of the identifiable assets liabilities at the acquisition date.
(3) Disposing the subsidiaries
Where the control of former subsidiary was lost any disposal profit or loss occurred shall be recorded into the investment income
during the period of losing control right. As for remaining equity investment the Group will re-account it according to the fair value
at the date the control was lost. Any profit or loss occurred shall be recorded into the investment income during the period of losing
control right.
86BOE Technology Group Co. Ltd. Interim Report 2025
Where the Group losses control on its original subsidiaries due to step by step disposal of equity investments through multiple
transactions should judge whether is the package deal according to the following principles:
- These deals are at the same time or under the condition of considering the influence of each other to concluded;
- These transactions only when be regarded as a whole could achieve a complete business result;
- The occurrence of a deal depends on at least one other transactions；
- A deal alone is not economical it is economical with other trading together.If each deal not belongs to a package deal as for each deal before losing the control right on the subsidiaries should be disposed
according to the accounting policies of partly disposing the equity investment of the subsidiaries under the situation not losing the
control right.If each deal belongs to a package deal considered as a transaction and conduct accounting treatment however before losing control
the differences between every disposal cost and the shares of the book value of the corresponding net assets continuously calculated
since the purchase date of the subsidiary of disposal investment are confirmed as other comprehensive income in consolidated
financial statements which together transferred into the current profits and losses in the loss of control when the Group losing
control on its subsidiary.
(4) Changes of non-controlling interests
Where the Company acquires a minority interest from a subsidiary’s minority shareholders or disposes of a portion of an interest in a
subsidiary without a change in control the difference between the amount by which the minority interests are adjusted and the
amount of the consideration paid or received is adjusted to the capital reserve (share premium) in the consolidated balance sheet. If
the credit balance of capital reserve (share premium) is insufficient any excess is adjusted to retained earnings.
8. Classification of Joint Arrangements and Accounting Treatment of Joint Operations
A joint arrangement refers to an arrangement jointly controlled by two participants or above and all the participants are restricted by
the arrangement; and two or more participants execute the jointly control on the arrangement. Any of the participant should not
individually control the arrangement while any of the participant that owns the jointly control could stop other participants or the
participants group from individually control the arrangement.Joint arrangements divided into joint operations and joint ventures. A joint operation refers to a joint arrangement where the
participant party enjoys assets and has to bear liabilities related to the arrangement. A joint venture refers to a joint arrangement
where the participant party is only entitled to the net assets of the arrangement.In joint operations the participant party should confirm the following items related to the interests portion among the jointly
operation and execute the accounting treatment according to the regulations of the relevant ASBE: recognizes the assets and
liabilities that it holds and bears in the joint operation and recognizes the jointly-held assets and jointly-borne liabilities according to
the Group’s stake in the joint operation; recognizes the income from sale of the Group’s share in the output of the joint operation;
recognizes the income from sale of the joint operation’s outputs according to the Group’s stake in it; and recognizes the expense
solely incurred to the Group and the expense incurred to the joint operation according to the Group’s stake in it.
9. Recognition Standard for Cash and Cash Equivalents
In the Group’s understanding cash and cash equivalents include cash on hand any deposit that can be used for cover and short-term
and high circulating investments which are easily convertible into known amount of cash and whose risks in change of value are
minimal.
87BOE Technology Group Co. Ltd. Interim Report 2025
10. Foreign Currency Businesses and Translation of Foreign Currency Financial Statements
When the Group receives capital in foreign currencies from investors the capital is translated to Renminbi at the spot exchange rate
at the date of the receipt. Other foreign currency transactions are on initial recognition translated to Renminbi at the spot exchange
rates at the dates of the transactions.Monetary items denominated in foreign currencies are translated to Renminbi at the spot exchange rate at the balance sheet date. The
resulting exchange differences are recognized in profit or loss except those arising from the principals and interests on foreign
currency borrowings specifically for the purpose of acquisition construction of qualifying assets. Non-monetary items denominated
in foreign currencies that are measured at historical cost are translated to Renminbi using the foreign exchange rate at the transaction
date. Non-monetary items denominated in foreign currencies that are measured at fair value are translated using the foreign exchange
rate at the date the fair value is determined; the exchange differences if it’s the difference arising from the non-monetary item of
non-transactional equity investments designated to be measured at fair value and changes thereof recorded into other comprehensive
income it shall be considered as other comprehensive income; other differences shall be recognized in current profit or loss.The assets and liabilities of foreign operation are translated to Renminbi at the spot exchange rate at the balance sheet date. The
equity items excluding “Retained earning” and “Difference arising from translation of foreign currency financial statements in othercomprehensive income” are translated to Renminbi at the spot exchange rates at the transaction dates. The income and expenses of
foreign operation are translated to Renminbi at rates that approximate the spot exchange rates at the transaction dates. The resulting
exchange differences are listed in other comprehensive income. Upon disposal of a foreign operation the cumulative amount of the
exchange differences recognized in equity which relates to that foreign operation is transferred to profit or loss in the period in which
the disposal occurs.
11. Financial instruments
Financial instruments of the Group include monetary assets bond investments equity investments other than long-term equity
investments accounts receivable accounts payable borrowings bonds payable share capital etc.
(1) Recognition and initial measurement of financial assets and financial liabilities
A financial asset or financial liability is recognised in the balance sheet when the Group becomes a party to the contractual provisions
of a financial instrument.Financial assets and financial liabilities are measured initially at fair value. For financial assets and financial liabilities at fair value
through profit or loss any related directly attributable transaction costs are charged to profit or loss; for other categories of financial
assets and financial liabilities any related directly attributable transaction costs are included in their initial costs. A trade receivable
without a significant financing component is initially measured at the transaction price according to Accounting Standards for
Business Enterprises No.14-Revenue.
(2) Classification and subsequent measurement of financial assets
(a) Classification of financial assets
The classification of financial assets is generally based on the business model in which a financial asset is managed and its
contractual cash flow characteristics. On initial recognition a financial asset is classified as measured at amortised cost at fair value
through other comprehensive income (“FVOCI”) or at fair value through profit or loss (“FVTPL”).Financial assets are not reclassified subsequent to their initial recognition unless the Group changes its business model for managing
financial assets in which case all affected financial assets are reclassified on the first day of the first reporting period following the
change in the business model.A financial asset is measured at amortised cost if it meets both of the following conditions and is not designated as at FVTPL:
- it is held within a business model whose objective is to hold assets to collect contractual cash flows; and
- its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal
88BOE Technology Group Co. Ltd. Interim Report 2025
amount outstanding.A debt investment is measured at FVOCI if it meets both of the following conditions and is not designated as at FVTPL:
- it is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets;
and
- its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal
amount outstanding.On initial recognition of an equity investment that is not held for trading the Group may irrevocably elect to present subsequent
changes in the investment’s fair value in other comprehensive income. This election is made on an investment-by-investment basis.The instrument meets the definition of equity from the perspective of the issuer.All financial assets not classified as measured at amortised cost or FVOCI as described above are measured at FVTPL. On initial
recognition the Group may irrevocably designate a financial asset that otherwise meets the requirements to be measured at amortised
cost or at FVOCI as at FVTPL if doing so eliminates or significantly reduces an accounting mismatch that would otherwise arise.The business model refers to how the Group manages its financial assets in order to generate cash flows. That is the Group’s
business model determines whether cash flows will result from collecting contractual cash flows selling financial assets or both. The
Group determines the business model for managing the financial assets according to the facts and based on the specific business
objective for managing the financial assets determined by the Group’s key management personnel.In assessing whether the contractual cash flows are solely payments of principal and interest the Group considers the contractual
terms of the instrument. For the purposes of this assessment ‘principal’ is defined as the fair value of the financial asset on initial
recognition. ‘Interest’ is defined as consideration for the time value of money and for the credit risk associated with the principal
amount outstanding during a particular period of time and for other basic lending risks and costs as well as a profit margin. The
Group also assesses whether the financial asset contains a contractual term that could change the timing or amount of contractual
cash flows such that it would not meet this condition.(b) Subsequent measurement of financial assets
- Financial assets at FVTPL
These financial assets are subsequently measured at fair value. Net gains and losses including any interest or dividend income are
recognised in profit or loss unless the financial assets are part of a hedging relationship.- Financial assets at amortised cost
These assets are subsequently measured at amortised cost using the effective interest method. A gain or loss on a financial asset that
is measured at amortised cost and is not part of a hedging relationship shall be recognised in profit or loss when the financial asset is
derecognised reclassified through the amortisation process or in order to recognise impairment gains or losses.- Debt investments at FVOCI
These assets are subsequently measured at fair value. Interest income calculated using the effective interest method impairment and
foreign exchange gains and losses are recognised in profit or loss. Other net gains and losses are recognised in other comprehensive
89BOE Technology Group Co. Ltd. Interim Report 2025
income. On derecognition gains and losses accumulated in other comprehensive income are reclassified to profit or loss.- Equity investments at FVOCI
These assets are subsequently measured at fair value. Dividends are recognised as income in profit or loss. Other net gains and losses
are recognised in other comprehensive income. On derecognition gains and losses accumulated in other comprehensive income are
reclassified to retained earnings.
(3) Classification and subsequent measurement of financial liabilities
Financial liabilities are classified as measured at FVTPL or amortised cost.- Financial liabilities at FVTPL
A financial liability is classified as at FVTPL if it is classified as held-for-trading (including derivative financial liability) or it is
designated as such on initial recognition.Financial liabilities at FVTPL are subsequently measured at fair value and net gains and losses including any interest expense are
recognised in profit or loss unless the financial liabilities are part of a hedging relationship.- Financial liabilities at amortised cost
These financial liabilities are subsequently measured at amortised cost using the effective interest method.
(4) Offsetting
Financial assets and financial liabilities are generally presented separately in the balance sheet and are not offset. However a
financial asset and a financial liability are offset and the net amount is presented in the balance sheet when both of the following
conditions are satisfied:
- The Group currently has a legally enforceable right to set off the recognised amounts；
- The Group intends either to settle on a net basis or to realise the financial asset and settle the financial liability simultaneously.
(5) Derecognition of financial assets and financial liabilities
Financial asset is derecognised when one of the following conditions is met:
- the Group’s contractual rights to the cash flows from the financial asset expire;
- the financial asset has been transferred and the Group transfers substantially all of the risks and rewards of ownership of the
financial asset; or；
- the financial asset has been transferred although the Group neither transfers nor retains substantially all of the risks and
rewards of ownership of the financial asset it does not retain control over the transferred asset.Where a transfer of a financial asset in its entirety meets the criteria for derecognition the difference between the two amounts below
90BOE Technology Group Co. Ltd. Interim Report 2025
is recognised in profit or loss:
- the carrying amount of the financial asset transferred measured at the date of derecognition;
- the sum of the consideration received from the transfer and when the transferred financial asset is a debt investment at FVOCI
any cumulative gain or loss that has been recognised directly in other comprehensive income for the part derecognised.The Group derecognises a financial liability (or part of it) only when its contractual obligation (or part of it) is extinguished.
(6) Impairment
The Group recognises loss allowances for expected credit loss (ECL) on:
- financial assets measured at amortised cost;
- contract assets;
- debt investments at FVOCI;
- lease accounts receivable
Financial assets measured at fair value including debt investments or equity securities at FVTPL equity securities designated at
FVOCI and derivative financial assets are not subject to the ECL assessment.Measurement of ECLs
ECLs are a probability-weighted estimate of credit losses. Credit losses are measured as the present value of all cash shortfalls (i.e.the difference between the cash flows due to the entity in accordance with the contract and the cash flows that the Group expects to
receive).The maximum period considered when estimating ECLs is the maximum contractual period (including extension options) over which
the Group is exposed to credit risk.Lifetime ECLs are the ECLs that result from all possible default events over the expected life of a financial instrument.
12-month ECLs are the portion of ECLs that result from default events that are possible within the 12 months after the balance
sheet date (or a shorter period if the expected life of the instrument is less than 12 months).Loss allowances for bills receivable accounts receivable receivables under financing and contract assets arising from ordinary
business activities such as sale of goods and provision of services as well as lease receivables arising from lease transactions are
always measured at an amount equal to lifetime ECLs. ECLs on these financial assets are estimated using a provision matrix based
on the Group’s historical credit loss experience adjusted for factors that are specific to the debtors and an assessment of both the
current and forecast general economic conditions at the balance sheet date.Except for bills receivable accounts receivable receivables under financing contract assets and lease receivables the Group
measures loss allowances at an amount equal to 12-month ECLs for the following financial instruments and at an amount equal to
lifetime ECLs for all other financial instruments:
- If the financial instrument is determined to have low credit risk at the balance sheet date;
91BOE Technology Group Co. Ltd. Interim Report 2025
- If the credit risk on a financial instrument has not increased significantly since initial recognition.Provisions for bad and doubtful debts arising from receivables
(a) Categories of groups for collective assessment based on credit risk characteristics and basis for determination
Item Basis for determination
Bills receivable Based on the different credit risk characteristics of acceptors the Group classifies bills receivableinto two groups: bank acceptance bills and commercial acceptance bills.Historically there is no significant difference in terms of occurrence of losses among different
Accounts receivable customer types for the Group. Therefore the Group classifies accounts receivable into threegroups specifically: receivables from customers with high credit risk receivables from customers
with low credit risk and receivables from customers with medium credit risk.The Group’s receivables under financing are bank acceptance bills held for dual purposes. As the
Receivables under financing accepting banks have high credit ratings the Group considers all receivables under financing as a
single group.The Group’s other receivables mainly include cash pledges and deposits receivable petty cash
receivables due from employees receivables due from related parties dividends receivable etc.Other receivables Based on the nature of receivables and the credit risk characteristics of different counterparties the
Group classifies other receivables into three groups specifically: customers with high credit risk
customers with low credit risk and customers with medium credit risk.Historically there is no significant difference in terms of occurrence of losses among different
Contract assets customer types for the Group. Therefore the Group makes provisions for bad and doubtful debtsarising from contract assets on the basis of all customers being one group without further
segmentation by different customer types.(b) Criteria for determining the bad debt provision based on individual items
For notes receivables accounts receivables financing receivables other receivables and contract assets the Group measured the
loss reserves based on the credit risk characteristic portfolio. If the credit risk characteristics of a certain counterparty are
significantly different from other counterparties in the portfolio or if there is a significant change in the credit risk characteristics
of that counterparty a loss provision is made on an individual basis for the receivable from that counterparty. For instance when a
counterparty experiences severe financial difficulties and the expected credit loss rate for the receivable from that counterparty is
significantly higher than the expected credit loss rate for that counterparty's age group a specific provision for loss is made for that
counterparty.Financial instruments that have low credit risk
The credit risk on a financial instrument is considered low if the financial instrument has a low risk of default the borrower has a
strong capacity to meet its contractual cash flow obligations in the near term and adverse changes in economic and business
conditions in the longer term may but will not necessarily reduce the ability of the borrower to fulfil its contractual cash flow
obligations.Significant increases in credit risk
In assessing whether the credit risk of a financial instrument has increased significantly since initial recognition the Group compares
the risk of default occurring on the financial instrument assessed at the balance sheet date with that assessed at the date of initial
recognition.When determining whether the credit risk of a financial asset has increased significantly since initial recognition and when estimating
ECL the Group considers reasonable and supportable information that is relevant and available without undue cost or effort
92BOE Technology Group Co. Ltd. Interim Report 2025
including forward-looking information. In particular the following information is taken into account:
- failure to make payments of principal or interest on their contractually due dates;
- an actual or expected significant deterioration in a financial instrument’s external or internal credit rating (if available);
- an actual or expected significant deterioration in the operating results of the debtor; and
- existing or forecast changes in the technological market economic or legal environment that have a significant adverse effect
on the debtor’s ability to meet its obligation to the Group.Depending on the nature of the financial instruments the assessment of a significant increase in credit risk is performed on either an
individual basis or a collective basis. When the assessment is performed on a collective basis the financial instruments are grouped
based on shared credit risk characteristics such as past due status and credit risk ratings.The Group assumes that the credit risk on a financial asset has increased significantly if it is more than 30 days past due.Credit-impaired financial assets
At each balance sheet date the Group assesses whether financial assets carried at amortised cost and debt investments at FVOCI are
credit-impaired. A financial asset is ‘credit-impaired’ when one or more events that have a detrimental impact on the estimated future
cash flows of the financial asset have occurred. Evidence that a financial asset is credit-impaired includes the following observable
data:
- significant financial difficulty of the borrower or issuer;
- a breach of contract such as a default or delinquency in interest or principal payments;
- for economic or contractual reasons relating to the borrower’s financial difficulty the Group having granted to the borrower a
concession that would not otherwise consider;
- it is probable that the borrower will enter bankruptcy or other financial reorganisation; or
- the disappearance of an active market for that financial asset because of financial difficulties.Presentation of allowance for ECL
ECLs are remeasured at each balance sheet date to reflect changes in the financial instrument’s credit risk since initial recognition.Any change in the ECL amount is recognised as an impairment gain or loss in profit or loss. The Group recognises an impairment
gain or loss for all financial instruments with a corresponding adjustment to their carrying amount through a loss allowance account
except for debt investments that are measured at FVOCI for which the loss allowance is recognised in other comprehensive income.Write-off
The gross carrying amount of a financial asset is written off (either partially or in full) to the extent that there is no realistic prospect
of recovery. A write-off constitutes a derecognition event. This is generally the case when the Group determines that the debtor does
not have assets or sources of income that could generate sufficient cash flows to repay the amounts subject to the write-off. However
financial assets that are written off could still be subject to enforcement activities in order to comply with the Group’s procedures for
recovery of amounts due.Subsequent recoveries of an asset that was previously written off are recognised as a reversal of impairment in profit or loss in the
period in which the recovery occurs.
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(7) Equity instrument
The issuance of equity instruments is recognised at the actual issue price in shareholders’ equity relevant transaction costs are
deducted from shareholders’ equity (capital reserve) with any excess deducted from surplus reserve and retained earnings
sequentially. Consideration and transaction costs paid by the Company for repurchasing self-issued equity instruments are deducted
from shareholders’ equity.When the Company repurchases its own shares those shares are treated as treasury shares. All expenditure relating to the repurchase
is recorded in the cost of the treasury shares with the transaction recording in the share register. Treasury shares are excluded from
profit distributions and are presented as a deduction under shareholders’ equity in the balance sheet.When treasury shares are cancelled the share capital should be reduced to the extent of the total par value of the treasury shares
cancelled. Where the cost of the treasury shares cancelled exceeds the total par value the excess is deducted from capital reserve
(share premium) surplus reserve and retained earnings sequentially. If the cost of treasury shares cancelled is less than the total par
value the difference is credited to the capital reserve (share premium).When treasury shares are disposed of any excess of proceeds above cost is recognised in capital reserve (share premium); otherwise
the shortfall is deducted against capital reserve (share premium) surplus reserve and retained earnings sequentially.
(8) Perpetual bonds
At initial recognition the Group classifies the perpetual bonds issued or their components as financial assets financial liabilities or
equity instruments based on their contractual terms and their economic substance after considering the definition of financial assets
financial liabilities and equity instruments.Perpetual bonds issued that should be classified as equity instruments are recognised in equity based on the actual amount received.Any distribution of dividends or interests during the instruments’ duration is treated as profit appropriation. When the perpetual
bonds are redeemed according to the contractual terms the redemption price is charged to equity.
12. Notes Receivable
See V Significant Accounting Policies and Estimates-11. Financial Instruments for details
13. Accounts Receivable
See V Significant Accounting Policies and Estimates-11. Financial Instruments for details
14. Accounts Receivable Financing
See V Significant Accounting Policies and Estimates-11. Financial Instruments for details
15. Other Receivables
The recognition method and accounting treatment of expected credit losses of other receivables
94BOE Technology Group Co. Ltd. Interim Report 2025
See V Significant Accounting Policies and Estimates-11. Financial Instruments for details
16. Contract Assets
The Group has transferred the right to receive consideration for goods or services to customers (and this right depends on factors
other than the passage of time) as a contractual asset.Contractual assets are impaired on the basis of expected credit losses (See V Significant Accounting Policies and Estimates-11.Financial Instruments for details).
17. Inventory
(1) Classification and cost of inventories
Inventories include raw materials work in progress finished goods and reusable materials. Reusable materials include low-value
consumables packaging materials and other materials which can be used repeatedly but do not meet the definition of fixed assets.Inventories are initially measured by the cost. Cost of inventories comprises all costs of purchase costs of conversion and other costs.Inventories are initially measured at their actual cost. In addition to the purchasing cost of raw materials work in progress and
finished goods include direct labor costs and an appropriate allocation of production overheads based on normal output.
(2) Pricing method for outgoing inventories
Cost of inventories is calculated using the weighted average method.
(3) Inventory system for inventories
The Group maintains a perpetual inventory system.
(4) Amortization method for low-value consumables and packing materials
Revolving materials such as the low priced and easily worn articles and the packing materials should be amortized by adopting one-
time amortization method and be recorded in the cost of the relevant assets or the current gains and losses.
(5) Recognition basis of net realizable value and withdrawal method of depreciation reserves for inventories
On the balance sheet day inventories are carried at the lower of cost and net realizable value.Net realizable value is the estimated selling price in the normal course of business less the estimated costs to completion and the
estimated expenses and related taxes necessary to make the sale. The net realizable value of materials held for use in the production
of inventories is measured based on the net realizable value of the finished goods in which they will be incorporated. The net
realizable value of the quantity of inventory held to satisfy sales or service contracts is based on the contract price. If the quantities of
inventories specified in sales contracts are less than the quantities held by the Group the net realizable value of the excess portion of
inventories shall be based on general selling prices.Any excess of the cost over the net realizable value of each class of inventories is recognized as a provision for diminution in the
value of inventories and then recorded into current profit or loss.
18. Assets Held for Sale
The Group classifies a non-current asset or disposal group as held for sale when the carrying amount of a non-current asset or
disposal group will be recovered through a sale transaction rather than through continuing use.A disposal group refers to a group of assets to be disposed of by sale or otherwise together as a whole in a single transaction and
liabilities directly associated with those assets that will be transferred in the transaction.The Group should divide the non-current assets (or the disposal group that is an asset group concurrently be disposed through selling
95BOE Technology Group Co. Ltd. Interim Report 2025
or other methods as an entirety in a transaction and the liabilities directly related to the assets from the transfer among the transaction
the same below )which simultaneously meet with the following conditions as the assets held for sale.– The non-current assets or disposal group could be immediately sold under the current condition in accordance with the usual terms
of selling this kind of assets in similar transactions;
– The sale is extremely possible that is to say the Company has made a resolution regarding a sales planning and signed a legally
binding purchase agreement with other party and the sale is expected to be finished within one year.The Group measures the non-current assets held for sale deferred income tax assets and the investment properties be follow-up
measured by the fair value mode according to the lower one between the book value and the fair value after deducting the net amount
of the disposal expenses while the deference that the book value higher than the fair value which deducted the disposal expenses
should be recognized as the impairment losses of the assets.
19. Investments in Debt Obligations
See V Significant Accounting Policies and Estimates-11. Financial Instruments for details
20. Other Investments in Debt Obligations
See V Significant Accounting Policies and Estimates-11. Financial Instruments for details
21. Long-term Receivables
See V Significant Accounting Policies and Estimates-11. Financial Instruments for details
22. Long-term Equity Investments
(1) Recognition of the investment cost of the long-term equity investment
(a) Long-term equity investments acquired through a business combination– The initial investment cost of a long-term equity
investment obtained through a business combination involving entities under common control is the Company’s share of the
subsidiary’s equity at the combination date. The difference between the initial investment cost and the carrying amounts of the
consideration given is adjusted to share premium in capital reserve. If the balance of the share premium is insufficient any excess is
adjusted to retained earnings. For the long-term equity investment of the subsidiaries formed from the enterprise merger under the
same control that realized step by step of the multiple transaction not belong to package deal the Company would adjust the capital
stock premium among the capital surplus according to the difference between the initial investment cost of the long-term equity
investment recognized according to the above principles and the sum of the book value of the long-term equity investment before
reaching the merger and the book value of the newly paid consideration which be further received on the merger date and if the
balance of the share premium is insufficient with any excess deducted from surplus reserve and retained earnings sequentially.– For other long-term equity investment obtained through entities not under common control the fair values on the acquisition date
of the assets given the liabilities incurred or assumed and the equity securities issued by the acquirer in exchange for the control on
the acquiree shall be recognized as initial investment cost of the long-term equity investment. For long-term equity investment
obtained through a business combination involving entities not under common control by two or more transactions and by several
steps the initial investment cost is recognized as the aggregation of the carrying value of acquirees’ equity investment before the
acquisition date held by the Company and newly investment cost at the acquisition date.(b) Long-term equity investments acquired otherwise than through a business combination
For the Long-term equity investments acquired otherwise than through a business combination if the long-term investment is
96BOE Technology Group Co. Ltd. Interim Report 2025
acquired by paying cash the Group shall upon initial recognition take the purchase price actually paid as the initial investment cost ;
For the long-term equity investment obtained by issuing equity securities the Group takes the fair value of equity securities issued as
the initial investment cost.
(2) Subsequent measurement and recognition of profits or losses of the long-term equity investment
(a) Investments in subsidiaries
In the Company’s financial statements investments in subsidiaries are accounted for using the cost method unless the investment is
classified as held for sale. Cash dividends or profit distributions declared by subsidiaries and attributed to the Company shall be
recognized as investment income without dividing whether it’s the net profit realized by the investee before the investment or after
the investment except those that have been declared but unpaid at the time of acquisition and therefore included in the price paid or
consideration.The investment into the subsidiaries is stated at cost less impairment losses in the balance sheet.As for the impairment testing method and impairment provisions for investments in subsidiaries please refer to V. Significant
Accounting Policies and Estimates-30. Long-term Asset Impairment.In the Group’s consolidated financial statements long-term equity investments in subsidiaries are treated in accordance with V.Significant Accounting Policies and Estimates-7. Preparation Method for Consolidated Financial Statements.(b) Investment in jointly controlled enterprises and associates
The joint enterprise refers to an arrangement that the Group and other joint operation parties execute jointly control and only enjoy
the rights of their own net assets.An associate is an enterprise over which the Group has significant influence.Upon the subsequent measurement an investment in a jointly controlled enterprise or an associate is accounted for using the equity
method unless the investment is classified as held for sale.The Group makes the following accounting treatments when using the equity method:
– Where the initial investment cost of a long-term equity investment exceeds the Group’s interest in the fair value of the investee’s
identifiable net assets at the date of acquisition the investment is initially recognized at the initial investment cost. Where the initial
investment cost is less than the Group’s interest in the fair value of the investee’s identifiable net assets at the date of acquisition the
investment is initially recognized at the investor’s share of the fair value of the investee’s identifiable net assets and the difference is
charged to profit or loss.– After the acquisition of the investment the Group recognizes its share of the investee’s net profits or losses after deducting the
amortization of the debit balance of equity investment difference which was recognized by the Group before the first-time adoption
of CAS as investment income or losses and adjusts the carrying amount of the investment accordingly. The debit balance of the
equity investment difference is amortized using the straight-line method over a period which is determined in accordance with
previous accounting standards. Once the investee declares any cash dividends or profits distributions the carrying amount of the
investment is reduced by that attributable to the Group. As for the other changes of the owners’ equities except for the net gains and
losses other comprehensive income and profits distribution of the joint ventures or associated enterprises (hereinafter referred to as
“changes of other owners’ equities”) the Group included which in the shareholders’ equities according to the portion ought to be
enjoyed or shared and at the same time adjust the book value of the long-term equity investment.– The Group recognizes its share of the investee’s net profits or losses other comprehensive income and changes of other owners’
equities after making appropriate adjustments to align the accounting policies or accounting periods with those of the Group based on
the fair values of the investee’s identifiable net assets at the date of acquisition. Unrealized profits and losses resulting from
transactions between the Group and its associates or jointly controlled enterprises are eliminated to the extent of the Group’s interest
in the associates or jointly controlled enterprises. Unrealized losses resulting from transactions between the Group and its associates
or jointly controlled enterprises are eliminated in the same way as unrealized gains but only to the extent that there is no evidence of
impairment.
97BOE Technology Group Co. Ltd. Interim Report 2025
– The Group discontinues recognizing its share of net losses of the investee after the carrying amount of the long-term equity
investment and any long-term interest that in substance forms part of the Group’s net investment in the associate or the jointly
controlled enterprise is reduced to zero except to the extent that the Group has an obligation to assume additional losses. Where
net profits are subsequently made by the associate or jointly controlled enterprise the Group resumes recognizing its share of those
profits only after its share of the profits equals the share of losses not recognized.As for the impairment testing method and impairment provisions for investments in joint ventures and associated enterprises
please refer to V. Significant Accounting Policies and Estimates-30. Long-term Asset Impairment.
(3) The basis for determination of joint control or significant influence over investee enterprise
Joint control refers to the control jointly owned on certain arrangement according to relevant agreement and the relevant activities
of the arrangement (which are the activities cause significant influences on the arrangement) could only execute the decision-
making through the unanimous consent of the parties sharing control.The following evidences shall be considered when determining whether the Group can exercise joint control over an investee:
? No single venture is in a position to control the operating activities unilaterally;
? Operating decisions relating to the investee’s economic activity require the unanimous consent of the parties sharing control.Significant influence is the power to participate in the financial and operating policy decisions of an investee but is not control or
joint control over those policies.
23. Investment Property
Measurement model for investment property
Cost measurement
Method of depreciation and amortization
The Company classified its real estate held for earning rents or capital appreciation or for both into the investment property. The
Company applied the cost model to measure the investment real estate. Namely it would be presented in the Balance Sheet
through deducting the accumulated depreciation amortization and the depreciation reserves from the costs. Besides the Company
would calculate and withdraw or amortize the investment real estate by using the straight-line method within the service life
through deducting the predicted net residual value and the accumulated provision reserves from the costs unless the investment
real estate could meet corresponding held-for-sale conditions. See See V Significant Accounting Policies and Estimates-30.Impairment of Long-term Assets for details about methods for impairment testing and impairment provision.The life time residual rate and yearly depreciation of various investment properties are respectively as follows:
Item Life time Residual rate Yearly depreciation
Land use right 32-50 years 0% 2%-3.1%
Houses and buildings 20-40 years 0%-10% 2.3%-5%
24. Fixed Assets
(1) Conditions for Recognition
Fixed assets represent the tangible assets held by the Group for use in the production of goods or supply of services for rental to
others or for operation and administrative purposes with useful lives over one year.The cost of a purchased fixed asset comprises the purchase price related taxes and any directly attributable expenditure for
bringing the asset to working condition for its intended use.The cost of self-constructed assets is measured in accordance with the policy set out in Note V. Significant Accounting Policies
and Estimates-25. Construction in Progress.Where parts of an item of fixed assets have different useful lives or provide benefits to the Group in different patterns thus
necessitating use of different depreciation rates or methods each part is recognized as a separate fixed asset.
98BOE Technology Group Co. Ltd. Interim Report 2025
The subsequent costs including the cost of replacing part of an item of fixed assets are recorded into fixed asset cost when the
economic interests related to costs may flow into the Group and the carrying amount of the replaced part is derecognized. The
costs of the day-to-day servicing of fixed assets are recognized in profit or loss as incurred.Fixed assets are stated in the balance sheet at cost less accumulated depreciation and impairment losses.
(2) Depreciation Methods
Category of fixed
assets Depreciation method Depreciable life Residual value rate (%) Yearly depreciation
Houses and buildings Straight-line method 10-50 years 3%-10% 1.8%-9.7%
Equipments Straight-line method 2-25 years 0-10% 3.6%-50%
Others Straight-line method 2-10 years 0-10% 9.0%-50%
25. Construction in Progress
The cost of the self-constructed fixed asset including the engineering materials direct labor borrowing expenses met with the
capitalization condition (refer to V. Significant Accounting Policies and Estimates-26. Borrowing Costs) and the necessary expenses
happened before the assets reach the expected available state.When the self-constructed fixed asset reaches the available state should transfer into the fixed assets before which should be
listed among the construction in progress and not withdraw the depreciation.The criteria according to which construction projects in progress are transferred to fixed assets:
Category Criteria for the transfers to fixed assets
Plant and buildings Satisfy the acceptance criteria and be available for its predetermined readiness for use
Machinery and equipment Installation and commissioning are qualified and be available for its predetermined readiness for use?
26. Borrowing Costs
Borrowing costs incurred directly attributable to the acquisition and construction of a qualifying asset are capitalized as part of the
cost of the asset. Other borrowing costs are recognised as financial expenses when incurred.During the capitalisation period the amount of interest (including amortisation of any discount or premium on borrowing) to be
capitalised in each accounting period is determined as follows:
-Where funds are borrowed specifically for the acquisition and construction of a qualifying asset the amount of interest to be
capitalised is the interest expense calculated using effective interest rates during the period less any interest income earned from
depositing the borrowed funds or any investment income on the temporary investment of those funds before being used on the asset.-To the extent that the Group borrows funds generally and uses them for the acquisition and construction of a qualifying asset the
amount of borrowing costs eligible for capitalisation is determined by applying a capitalisation rate to the weighted average of the
excess amounts of cumulative expenditure on the asset over the above amounts of specific borrowings. The capitalisation rate is the
weighted average of the interest rates applicable to the general-purpose borrowings.The effective interest rate is determined as the rate that exactly discounts estimated future cash flow through the expected life of the
borrowing or when appropriate a shorter period to the initially recognised amount of the borrowings.During the capitalisation period exchange differences related to the principal and interest on a specific-purpose borrowing
denominated in foreign currency are capitalised as part of the cost of the qualifying asset. The exchange differences related to the
99BOE Technology Group Co. Ltd. Interim Report 2025
principal and interest on foreign currency borrowings other than a specific-purpose borrowing are recognised as a financial expense
when incurred.The capitalisation period is the period from the date of commencement of capitalisation of borrowing costs to the date of cessation of
capitalisation excluding any period over which capitalisation is suspended. Capitalisation of borrowing costs commences when
expenditure for the asset is being incurred borrowing costs are being incurred and activities of acquisition and construction that are
necessary to prepare the asset for its intended use are in progress and ceases when the assets become ready for their intended use.When the parts of the qualifying assets acquired or constructed that are eligible for capitalisation are completed separately and each
part is available for use in other parts of the construction process or can be sold externally and for the purpose of making the parts of
the assets ready for use or necessary for the sales status the acquisition or construction activities have been substantially completed
the Group ceases the capitalization of the borrowing costs related to the parts of the assets. Capitalisation of borrowing costs is
suspended when the acquisition and construction activities are interrupted abnormally for a period of more than three months.
27. Living Assets
Naught
28. Oil and Gas Assets
Naught
29. Intangible Assets
(1) Service life and its basis for determination estimate amortization method or review procedure
Intangible assets are stated in the balance sheet at cost less accumulated amortisation (where the estimated useful life is finite) and
impairment losses (see 30. Long-term asset impairment under V. Significant Accounting Policies and Accounting Estimates).As for the intangible assets with limited useful life after deducting the salvage of the cost and the impairment provision the Group
amortized the intangible assets through straight line method within the expected service life unless the intangible assets are
classified as held for sale.The estimated useful lives basis for determination and amortisation methods of intangible assets are as follows:
Item Estimated useful life (years) Basis for determination Amortisation method
Land use rights 20 - 50 years Terms of land use rights? Straight-line method?
Patents and know-how 5 - 20 years Terms of patents Straight-line method??
Computer software 3 - 10 years ?Estimated useful life Straight-line method??
Others 5 - 20 years Estimated useful life? Straight-line method??
Useful lives and amortisation methods of intangible asset with finite useful life are reviewed at least at each year-end. An
intangible asset is regarded as having an indefinite useful life and is not amortized when there is no foreseeable limit to the period
over which the asset is expected to generate economic benefits for the Group. At the balance sheet date the Group doesn’t have
any intangible assets with indefinite useful lives.
(2) The scope of research and development expenditures
a. The basis for the classification of internal R&D projects under the research phase and the development phase
- The phase of planned investigations to acquire new techniques and knowledge should be identified as the research phase which
is characterised by among other things a planned and exploratory approach.
100BOE Technology Group Co. Ltd. Interim Report 2025
- The phase of applying research results or other knowledge to a plan or design to produce new or substantially improved
materials devices products etc. prior to commercial production or use shall be identified as the development phase which is
characterised by its relevance and greater likelihood of generating results.b. Specific criteria for dividing the research phase and development phase of internal research and development projects:
Expenditure on the development phase is recognized as an intangible asset only if the following conditions are met simultaneously:
- The completion of the intangible assets makes it technically feasible for using or selling;
- There is the intention to complete and use or sell the intangible assets;
- The way in which an intangible asset generates economic benefits including the proof that the products produced with the
intangible assets can be sold in a market or the proof of its usefulness if the intangible assets can be sold in a market and will be used
internally;
- There are sufficient technical financial resources and other resources to support the development of the intangible assets and the
ability to use or sell the intangible assets;
- Expenditure attributable to the development stage of intangible assets can be measured reliably.
30. Impairment of Long-termAssets
The carrying amounts of the following assets are reviewed at each balance sheet date based on internal and external sources of
information to determine whether there is any indication of impairment:
- fixed assets
- construction in progress
- right-of-use assets
- intangible assets
- investment properties measured using a cost model
- long-term equity investments
- goodwill
- long-term deferred expenses etc.If any indication exists the recoverable amount of the asset is estimated. In addition the Group estimates the recoverable amounts of
goodwill at each year-end irrespective of whether there is any indication of impairment. Goodwill is allocated to each asset group or
set of asset groups which is expected to benefit from the synergies of the combination for the purpose of impairment testing.The recoverable amount of an asset (or asset group set of asset groups) is the higher of its fair value less costs to sell and its present
value of expected future cash flows.An asset group is composed of assets directly related to cash generation and is the smallest identifiable group of assets that generates
cash inflows that are largely independent of the cash inflows from other assets or asset groups.The present value of expected future cash flows of an asset is determined by discounting the future cash flows estimated to be
101BOE Technology Group Co. Ltd. Interim Report 2025
derived from continuing use of the asset and from its ultimate disposal to their present value using an appropriate pre-tax discount
rate.An impairment loss is recognised in profit or loss when the recoverable amount of an asset is less than its carrying amount. A
provision for impairment of the asset is recognised accordingly. Impairment losses related to an asset group or a set of asset groups
are allocated first to reduce the carrying amount of any goodwill allocated to the asset group or set of asset groups and then to reduce
the carrying amount of the other assets in the asset group or set of asset groups on a pro rata basis. However such allocation would
not reduce the carrying amount of an asset below the highest of its fair value less costs to sell (if measurable) its present value of
expected future cash flows (if determinable) and zero.Once an impairment loss is recognised it is not reversed in a subsequent period.
31. Long-term Deferred Expenses
Long-term deferred expenses are amortized on a straight-line method within the benefit period:
Item Amortization period (years)
Cost of construction and use of public facilities 10-15 years
Cost of operating lease assets improvement 2-10 years
Others 2-10 years
32. Contract Liabilities
The Group's obligations to transfer goods or services to customers for consideration received or receivable from customers are
presented as contract liabilities.
33. Payroll
(1) Accounting Treatment of Short-term Compensation
During the accounting period of an employee' providing services the Group recognizes the actual occurred or withdrawn worker
wages bonuses and the social insurance charges such as the medical insurance premiums industrial injury insurance premium and
birth insurance premium according to the specified benchmark and proportion as well as the housing funds as the liabilities and
records which in the current gains and losses or the relevant asset costs.
(2) Accounting Treatment of the Welfare after Demission
a. Post-employment benefits – defined contribution plans
The defined contribution plans participated by the Group including: the basic endowment insurance and unemployment insurance
among the social security system set up and managed by the government institutions according to the requirements of the relevant
Chinese regulations of the employees of the Group and the corporation pension plan approved and set up by the relevant departments
according to the relevant policies of the state enterprise annuity system. The payment amount of the basic endowment insurance and
the unemployment insurance should be calculated according to the benchmark and the proportion stipulated by the nation. The
enterprise annuity should be withdrawn according to the certain proportion of the total amount of the worker wages of the employees
voluntarily participated in the pension plan.During the accounting period of the employees providing the service the Company recognizes the deposited amount as the liabilities
and records in the current gains and losses or the relevant asset costs.
102BOE Technology Group Co. Ltd. Interim Report 2025
b. Post-employment benefits – defined benefit plans
During the reporting period the Group did not have defined benefit plans.
(3) Accounting Treatment of the Demission Welfare
The Group relieves the labor relations with the employees before the maturity of the labor contracts or puts forward the advice for
compensation for encouraging the employees voluntarily accept the reduction and recognizes the liabilities caused from the
demission welfare on the earlier date of the followings and at the same time records which in the current gains and losses:
? When the Group could not unilaterally withdraw the demission welfare provided owning to the termination of the labor relations or
the reduction advice:
? The Group owns specific and formal reorganization plan that concerning the payment of the demission welfare; and the time when
the reorganization plan had been executed or had announced the main content of the plan to the parties influenced by which then led
all parties formed the rational expectations about the Group is going to execute the reorganization.
(4) Accounting Treatment of the Welfare of Other Long-term Staffs
The Group not involved with any other long-term employee's welfare.
34. Provisions
A provision is recognized for an obligation related to a contingency if the Group has a present obligation that can be estimated
reliably and it is probable that an outflow of economic benefits will be required to settle the obligation.The estimated liabilities should be executed the initial measurement according to the best estimated number needed to be spent when
caring out the relevant current obligations. As for those with significant influences on the time value of money the estimated
liabilities should be confirmed according to the amount after the discount of the estimated future cash flow. When recognizing the
best estimated number the Group comprehensively considers the factors such as the risks uncertainty and the time value of money
related to the contingencies. There is a contiguous range of the needed expenses and the possibility of various results within the range
is the same and the best estimated number should be recognized according to the mediant within the range; under other circumstance
the best estimated number should be handled respectively according to the following situations:
? If the contingencies involve with a single item should be recognized according to the most likely happened amount.? If the contingencies involve with various items should be recognized according to the calculation of various possible results and
the relevant probabilities.The Group executes the reexamination of the book value of the estimated liabilities on the balance sheet date and adjusts the book
value according to the current best estimated number.
35. Share-based Payment
(1) Classification of share-based payments
Share-based payment transactions in the Group are equity-settled share-based payments.
(2) Accounting treatment of share-based payments
- Equity-settled share-based payments
Where the Group uses shares or other equity instruments as consideration for services received from the employees the payment is
measured at the fair value of the equity instruments granted to the employees at the grant date. If the equity instruments granted do
not vest until the completion of services for a period or until the achievement of a specified performance condition the Group
recognises an amount at each balance sheet date during the vesting period based on the best estimate of the number of equity
instruments expected to vest according to the newly obtained subsequent information of the changes of the number of the employees
103BOE Technology Group Co. Ltd. Interim Report 2025
expected to vest the equity instruments. The Group measures the services received at the grant-date fair value of the equity
instruments and recognises the costs or expenses as the services are received with a corresponding increase in capital reserve.
36. Other Financial Instruments such as Preferred Shares and Perpetual Bonds
See V Significant Accounting Policies and Estimates-11. Financial Instruments for details.
37. Revenue
Accounting policies for recognition and measurement of revenue disclosed according to business types
Revenue is the gross inflow of economic benefits arising in the course of the Group’s ordinary activities when the inflows result in
increase in shareholders’ equity other than increase relating to contributions from shareholders.Revenue is recognised when the Group satisfies the performance obligation in the contract by transferring the control over relevant
goods or services to the customers.Where a contract has two or more performance obligations the Group determines the stand-alone selling price at contract inception
of the distinct good or service underlying each performance obligation in the contract and allocates the transaction price in proportion
to those stand-alone selling prices. The Group recognises as revenue the amount of the transaction price that is allocated to each
performance obligation. The stand-alone selling price is the price at which the Group would sell a promised good or service
separately to a customer. If a stand-alone selling price is not directly observable the Group considers all information that is
reasonably available to the entity maximises the use of observable inputs to estimate the stand-alone selling price.For the contract which the Group grants a customer the option to acquire additional goods or services (such as loyalty points
discount coupons for future purchase etc.) the Group assesses whether the option provides a material right to the customer. If the
option provides a material right the Group recognises the option as a performance obligation and recognises revenue when those
future goods or services are transferred or when the option expires. If the stand-alone selling price for a customer’s option to acquire
additional goods or services is not directly observable the Group estimates it taking into account all relevant information including
the difference in the discount that the customer would receive when exercising the option or without exercising the option and the
likelihood that the option will be exercised.For the contract with a warranty the Group analyses the nature of the warranty provided if the warranty provides the customer with
a distinct service in addition to the assurance that the product complies with agreed-upon specifications the Group recognises for the
promised warranty as a performance obligation. Otherwise the Group accounts for the warranty in accordance with the requirements
of CAS No.13 – Contingencies.The transaction price is the amount of consideration to which the Group expects to be entitled in exchange for transferring promised
goods or services to a customer excluding amounts collected on behalf of third parties. The Group recognises the transaction price
only to the extent that it is highly probable that a significant reversal in the amount of cumulative revenue recognised will not occur
when the uncertainty associated with the variable consideration is subsequently resolved. To determine the transaction price for
contracts in which a customer promises consideration in a form other than cash the Group measures the non-cash consideration at
fair value. If the Group cannot reasonably estimate the fair value of the non-cash consideration the Group measures the consideration
indirectly by reference to the stand-alone selling price of the goods or services promised to the customer in exchange for the
consideration. Where the contract contains a significant financing component the Group recognises the transaction price at an
104BOE Technology Group Co. Ltd. Interim Report 2025
amount that reflects the price that a customer would have paid for the promised goods or services if the customer had paid cash for
those goods or services when (or as) they transfer to the customer. The difference between the amount of promised consideration and
the cash selling price is amortised using an effective interest method over the contract term. The Group does not adjust the
consideration for any effects of a significant financing component if it expects at contract inception that the period between when
the Group transfers a promised good or service to a customer and when the customer pays for that good or service will be one year or
less.The Group satisfies a performance obligation over time if one of the following criteria is met; or otherwise a performance obligation
is satisfied at a point in time:
- the customer simultaneously receives and consumes the benefits provided by the Group’s performance as the Group performs;
- the customer can control the asset created or enhanced during the Group’s performance; or
- the Group’s performance does not create an asset with an alternative use to it and the Group has an enforceable right to
payment for performance completed to date.For performance obligation satisfied over time the Group recognises revenue over time by measuring the progress towards complete
satisfaction of that performance obligation. When the outcome of that performance obligation cannot be measured reasonably but the
Group expects to recover the costs incurred in satisfying the performance obligation the Group recognises revenue only to the extent
of the costs incurred until such time that it can reasonably measure the outcome of the performance obligation.For performance obligation satisfied at a point in time the Group recognises revenue at the point in time at which the customer
obtains control of relevant goods or services. To determine whether a customer has obtained control of goods or services the Group
considers the following indicators:
- the Group has a present right to payment for the goods or services;
- the Group has transferred physical possession of the goods to the customer;
- the Group has transferred the legal title of the goods or the significant risks and rewards of ownership of the goods to the
customer; and
- the customer has accepted the goods or services.The Group determines whether it is a principal or an agent depending on whether it obtains control of the specified good or service
before that good or service is transferred to a customer. The Group is a principal if it controls the specified good or service before
that good or service is transferred to a customer and recognises revenue in the gross amount of consideration to which it has received
(or receivable). Otherwise the Group is an agent and recognises revenue in the amount of any fee or commission to which it expects
to be entitled. The fee or commission is the net amount of consideration that the Group retains after paying the other party the
consideration or is the established amount or proportion.For the sale of a product with a right of return the Group recognises revenue when the Group obtains control of that product in the
amount of consideration to which the Group expects to be entitled in exchange for the product transferred (i.e. excluding the amount
of which expected to be returned) and recognises a refund liability for the products expected to be returned. Meanwhile an asset is
recognised in the amount of carrying amount of the product expected to be returned less any expected costs to recover those products
(including potential decreases in the value of returned products) and carry forward to cost in the amount of carrying amount of the
transferred products less the above costs. At the end of each reporting period the Group updates its assessment of future sales return.
105BOE Technology Group Co. Ltd. Interim Report 2025
If there is any change it is accounted for as a change in accounting estimate.The Group determines whether the licence transfers to a customer either at a point in time or over time. If all of the following criteria
are met revenue is recognised for performance obligations satisfied over time. Otherwise revenue is recognised for performance
obligations satisfied at a point in time.- the contract requires or the customer reasonably expects that the Group will undertake activities that significantly affect the
intellectual property to which the customer has rights;
- the rights granted by the licence directly expose the customer to any positive or negative effects of the Group’s activities; and
- those activities do not result in the transfer of a good or a service to the customer as those activities occur.The Group recognises revenue for a sales-based or usage-based royalty promised in exchange for a licence of intellectual property
only when (or as) the later of the following events occurs:
- the subsequent sale or usage occurs; and
- the performance obligation has been satisfied (or partially satisfied).For a change in the scope or price of a contract that is approved by the parties to the contract the Group accounts for the contract
modification according to the following situations:
- The addition of promised goods or services are distinct and the price of the contract increases by an amount of consideration
reflects stand-alone selling prices of the additional promised goods or services the Group shall account for a contract modification as
a separate contract.- If the above criteria are not met and the remaining goods or services are distinct from the goods or services transferred on the
date of the contract modification the Group accounts for the contract modification as if it were a termination of the existing contract
and the creation of a new contract.- If the above criteria are not met and the remaining goods or services are not distinct from the goods or services transferred on
the date of the contract modification the Group accounts for the contract modification as if it were a part of the existing contract. The
effect that the contract modification has on the revenue is recognised as an adjustment to revenue in the reporting period.A contract asset is the Group’s right to consideration in exchange for goods or services that it has transferred to a customer when that
right is conditional on something other than the passage of time. The Group recognises loss allowances for expected credit loss on
contract assets (See V Significant Accounting Policies and Estimates-11. Financial Instruments for details). Accounts receivable is
the Group’s right to consideration that is unconditional (only the passage of time is required). A contract liability is the Group’s
obligation to transfer goods or services to a customer for which the Group has received consideration (or an amount of consideration
is due) from the customer.Different business models for the same type of business involve different revenue recognition and measurement methods
The following is the description of accounting policies regarding revenue from the Group’s principal activities:
(1) Sale of goods
106BOE Technology Group Co. Ltd. Interim Report 2025
The sales contracts/orders signed between the Group and its customers usually contain various trading terms. Depending on the
trading terms customers obtain control of the goods when the goods are delivered and received or when they are received by the
carrier. Revenue of sale of goods is recognised at that point in time.For the transfer of goods with a right of return revenue is recognised to the extent that it is highly probable that a significant reversal
in the amount of cumulative revenue recognised will not occur. Therefore the amount of revenue recognised is adjusted for the
amount expected to be returned which are estimated based on the historical data. The Group recognises a refund liability based on
the amount expected to be returned. An asset is initially measured by reference to the former carrying amount of the product expected
to be returned less any expected costs to recover those products (including potential decreases in the value to the Group of returned
products). At each balance sheet date the Group updates the measurement of the refund liability for changes in expectations about
the amount of funds. The above asset and liability are adjusted accordingly.
(2) Rendering of services
The Group recognises the revenue from rendering of services within a certain period of time according to the progress of the
performance as the customer simultaneously receives and consumes the benefits provided by the Group’s performance as the Group
performs. Otherwise for performance obligation satisfied at a point in time the Group recognises revenue at the point in time at
which the customer obtains control of relevant services.
38. Contract Costs
Contract costs are either the incremental costs of obtaining a contract with a customer or the costs to fulfil a contract with a customer.Incremental costs of obtaining a contract are those costs that the Group incurs to obtain a contract with a customer that it would not
have incurred if the contract had not been obtained. The Group recognises as an asset the incremental costs of obtaining a contract
with a customer if it expects to recover those costs. Other costs of obtaining a contract are expensed when incurred.If the costs to fulfil a contract with a customer are not within the scope of inventories or other accounting standards the Group
recognises an asset from the costs incurred to fulfil a contract only if those costs meet all of the following criteria:
- the costs relate directly to an existing contract or to a specifically identifiable anticipated contract including direct labour
direct materials allocations of overheads (or similar costs) costs that are explicitly chargeable to the customer and other costs that
are incurred only because the Group entered into the contract
- the costs generate or enhance resources of the Group that will be used in satisfying (or in continuing to satisfy) performance
obligations in the future; and
- the costs are expected to be recovered.Assets recognised for the incremental costs of obtaining a contract and assets recognised for the costs to fulfil a contract (the “assetsrelated to contract costs”) are amortised on a systematic basis that is consistent with the transfer to the customer of the goods or
services to which the assets relate and recognised in profit or loss for the current period.
107BOE Technology Group Co. Ltd. Interim Report 2025
The Group recognises an impairment loss in profit or loss to the extent that the carrying amount of an asset related to contract costs
exceeds:
- remaining amount of consideration that the Group expects to receive in exchange for the goods or services to which the asset
relates; less
- the costs that relate directly to providing those goods or services that have not yet been recognised as expenses.
39. Government grants
Government grants are non-reciprocal transfers of monetary or non-monetary assets from the government to the Group except for
capital contributions from the government in the capacity as an investor in the Group.A government grant is recognised when there is reasonable assurance that the grant will be received and that the Group will comply
with the conditions attaching to the grant.If a government grant is in the form of a transfer of a monetary asset it is measured at the amount received or receivable. If a
government grant is in the form of a transfer of a non-monetary asset it is measured at fair value.Government grants related to assets are grants whose primary condition is that the Group qualifying for them should purchase
construct or otherwise acquire long-term assets. Government grants related to income are grants other than those related to assets.Those related to daily activities of the Company are included in other income or used to write off related cost based on the nature of
economic businesses or included in non-operating income and expense in respect of those not related to daily activities of the
Company.With respect to the government grants related to assets if the Group first obtains government grants related to assets and then
recognizes the long-term assets purchased and constructed deferred income is included in profit and loss based on a reasonable and
systematic approach by stages when related assets are initially depreciated or amortized; or the deferred income is written off against
the carrying amount of the asset when the asset becomes ready for its intended status or intended use. If the Group obtains
government grants related to the assets after relevant long-term assets are put into use deferred income is included in profit and loss
based on a reasonable and systematic approach by stages within the remaining useful life of relevant assets or the deferred income is
written off against the carrying amount of relevant asset when the grants are obtained; the assets shall be depreciated or amortized
based on the carrying amount after being offset and the remaining useful life of relevant assets.For the government grants related to income which are used to compensate for related costs or losses of the Group in the future
period it shall be recognized as deferred income and included in profit and loss or used to offset related costs; otherwise it shall be
directly included in profit and loss or used to offset related costs.In respect of the policy-based preferential loan interest subsidy obtained by the Group if the interest subsidy is appropriated to the
lending bank which shall provide loans to the Group at the policy-based preferential interest rate the actual loan amount is used as
the entry value and relevant borrowing costs are calculated on the basis of the loan principal and the preferential interest rate. If the
interest subsidy is directly appropriated to the Group relevant borrowing costs shall be offset by corresponding interest subsidy. If
borrowing costs are capitalized as part of the cost of the asset (see Note V. Significant Accounting Policies and Estimates-26.Borrowing Costs) the interest subsidy shall be used to offset relevant asset costs.Note: Specific criteria for asset-related government subsidies and income-related government subsidies shall be distinguished. If the
government document does not specify the subsidy object the judgment basis for determining the government subsidy is asset-
related or income-related shall be described. Whether government subsidies adopt the gross method or the net method shall be
disclosed. If the gross method is adopted the amortization method of deferred income related to government subsidies and the
recognition method of the amortization period shall also be disclosed. The time when government subsidies are confirmed shall be
108BOE Technology Group Co. Ltd. Interim Report 2025
disclosed.
40. Deferred Income Tax Assets/Deferred Income Tax Liabilities
Except for the income tax arising from business combination and transactions or events directly included in owners' equity
(including other comprehensive income) the Group would include current income tax and deferred income tax into the profit and
loss for the current period.Current income tax is calculated based on the taxable income for the current year using the tax rates specified by tax laws
adjusted for income tax payable in previous years.On the balance sheet date when the Group has the legal right to settle on a net basis and intends to settle on a net basis or to
acquire assets and settle liabilities simultaneously the current income tax assets and current income tax liabilities are listed and
reported on a net basis after offsetting.The recognition of deferred tax asset and deferred tax liabilities are subject to the deductible temporary differences and taxable
temporary differences respectively. Temporary differences include the difference between the book value and tax base of assets
and liabilities including deductible losses that can be carried forward to future years and tax deduction. The recognition of
deferred income tax assets is subject to the amount of taxable income obtained to offset the deductible temporary differences.If a single transaction is not a business combination does not affect neither accounting profit nor taxable income (or deductible
losses) upon the occurrence thereof and the initial recognition of assets and liabilities does not result in taxable temporary
differences and deductible temporary differences of equal amounts then the temporary differences arising from that transaction do
not give rise to deferred income tax. Temporary differences arising from the initial recognition of goodwill also do not give rise to
related deferred income tax.On the balance sheet date the Group measures the book amounts of deferred income tax assets and liabilities based on the
applicable tax rates expected to apply during the period when the asset is realized or the liability is settled as per the enacted tax
laws.On the balance sheet date the Group reviews the book value of deferred income tax assets. If it is probable that sufficient taxable
income will not be available in future periods to offset the benefits of deferred tax assets the carrying amount of the deferred tax
assets will be reduced. The amount of the write-down is reversed when it is probable that sufficient taxable income will be
obtained.On the balance sheet date deferred income tax assets and deferred income tax liabilities are presented as the net amount after
offsetting when the following conditions are met at the same time:
- The taxpayer had the legal right to settle the current income tax assets and current income tax liabilities on a net basis;
- Deferred income tax assets and deferred income tax liabilities were related to the income tax levied by the same tax
administration department on the same taxpayer or different taxpayers but during the period when each significant deferred
income tax assets and liabilities would be reversed in the future the involved taxpayer intended to settle the current income tax
assets and liabilities on a net basis or to acquire assets and settle liabilities at the same time.
109BOE Technology Group Co. Ltd. Interim Report 2025
41. Lease
(1) Accounting Treatment of Lease as Leasee
The Group recognises a right-of-use asset and a lease liability at the lease commencement date. The right-of-use asset is initially
measured at cost which comprises the initial amount of the lease liability any lease payments made at or before the
commencement date (less any lease incentives received) any initial direct costs incurred and an estimate of costs to dismantle and
remove the underlying asset or to restore the site on which it is located or restore the underlying asset to the condition required by
the terms and conditions of the lease.The right-of-use asset is depreciated using the straight-line method. If the lessee is reasonably certain to exercise a purchase option
by the end of the lease term the right-of-use asset is depreciated over the remaining useful lives of the underlying asset. Otherwise
the right-of-use asset is depreciated from the commencement date to the earlier of the end of the useful life of the right-of-use asset
or the end of the lease term. Impairment losses of right-of-use assets are accounted for in accordance with the accounting policy
described in 30. Long-term asset impairment under V. Significant Accounting Policies and Accounting Estimates.The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date
discounted using the interest rate implicit in the lease or if that rate cannot be readily determined the Group’s incremental
borrowing rate.A constant periodic rate is used to calculate the interest on the lease liability in each period during the lease term with a
corresponding charge to profit or loss or included in the cost of assets where appropriate. Variable lease payments not included in
the measurement of the lease liability are charged to profit or loss or included in the cost of assets where appropriate as incurred.Under the following circumstances after the commencement date the Group remeasures lease liabilities based on the present value
of revised lease payments:
- there is a change in the amounts expected to be payable under a residual value guarantee;
- there is a change in future lease payments resulting from a change in an index or a rate used to determine those payments;
- there is a change in the assessment of whether the Group will exercise a purchase extension or termination option or there is a
change in the exercise of the extension or termination option.When the lease liability is remeasured a corresponding adjustment is made to the carrying amount of the right-of-use asset or is
recorded in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero.The Group has elected not to recognise right-of-use assets and lease liabilities for short-term leases that have a lease term of 12
months or less and leases of low-value assets (Individual leased assets have a lower value when they are brand new). The Group
recognises the lease payments associated with these leases in profit or loss or as the cost of the assets where appropriate using the
straight-line method or other systematic basis over the lease term.
110BOE Technology Group Co. Ltd. Interim Report 2025
(2) Accounting Treatment of Lease as Leasor
The Group determines at lease inception whether each lease is a finance lease or an operating lease. A lease is classified as a
finance lease if it transfers substantially all the risks and rewards incidental to ownership of an underlying asset irrespective of
whether the legal title to the asset is eventually transferred. An operating lease is a lease other than a finance lease.When the Group is a sub-lessor it assesses the lease classification of a sub-lease with reference to the right-of-use asset arising
from the head lease not with reference to the underlying asset. If a head lease is a short-term lease to which the Group applies
practical expedient described above then it classifies the sub-lease as an operating lease.Under a finance lease at the commencement date the Group recognises the finance lease receivable and derecognises the finance
lease asset. The finance lease receivable is initially measured at an amount equal to the net investment in the lease. The net
investment in the lease is measured at the aggregate of the unguaranteed residual value and the present value of the lease
receivable that are not received at the commencement date discounted using the interest rate implicit in the lease.The Group calculates and recognises interest income for each period of the lease term based on a fixed periodic interest rate. The
derecognition and impairment of the finance lease receivable are recognised in accordance with the accounting policy described in
11. Financial instruments under V. Significant Accounting Policies and Accounting Estimates. Variable lease payments not
included in the measurement of net investment in the lease are recognised as income as they are earned.Lease receipts from operating leases are recognised as income using the straight-line method or other systematic basis over the
lease term. The initial direct costs incurred in respect of the operating lease are initially capitalised and subsequently amortised in
profit or loss over the lease term on the same basis as the lease income. Variable lease payments not included in lease receipts are
recognised as income as they are earned.
42. Other Significant Accounting Policies and Estimates
(1) Related parties
If a party has the power to control jointly control or exercise significant influence over another party or vice versa or where two
or more parties are subject to common control or joint control from another party they are considered to be related parties. Related
parties may be individuals or enterprises. Enterprises with which the Company is under common control only from the State and
that have no other related party relationships are not regarded as related parties.In addition to the related parties stated above the Company determines related parties based on the disclosure requirements of
Administrative Procedures on the Information Disclosures of Listed Companies issued by the CSRC.
(2) Segment reporting
Reportable segments are identified based on operating segments which are determined based on the structure of the Group’s
internal organisation management requirements and internal reporting system after taking the materiality principle into account.Two or more operating segments may be aggregated into a single operating segment if the segments have the similar economic
characteristics and are same or similar in respect of the nature of each segment’s products and services the nature of production
processes the types or classes of customers for the products and services the methods used to distribute the products or provide
the services and the nature of the regulatory environment.Inter-segment revenues are measured on the basis of the actual transaction prices for such transactions for segment reporting.Segment accounting policies are consistent with those for the consolidated financial statements.
(3) Profit distributions
111BOE Technology Group Co. Ltd. Interim Report 2025
Dividends or profit distributions proposed in the profit appropriation plan which will be approved after the balance sheet date are
not recognised as a liability at the balance sheet date but are disclosed in the notes separately.
(4) Fair value measurement
Unless otherwise specified the Group measures fair value as follows:
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market
participants at the measurement date.When measuring fair value the Group takes into account the characteristics of the particular asset or liability (including the
condition and location of the asset and restrictions if any on the sale or use of the asset) that market participants would consider
when pricing the asset or liability at the measurement date and uses valuation techniques that are appropriate in the circumstances
and for which sufficient data and other information are available to measure fair value. Valuation techniques mainly include the
market approach the income approach and the cost approach.
(5) Goodwill
The initial cost of goodwill represents the excess of cost of acquisition over the acquirer's interest in the fair value of the
identifiable net assets of the acquiree under a business combination not involving entities under common control.Goodwill is not amortised and is stated in the balance sheet at cost less accumulated impairment losses (see 30. Long-term asset
impairment under V. Significant Accounting Policies and Accounting Estimates). On disposal of an asset group or a set of asset
groups any attributable goodwill is written off and included in the calculation of the profit or loss on disposal.
(6) Specific reserve
The Group recognises a safety fund in the specific reserve pursuant to relevant government regulations with a corresponding
increase in the costs of the related products or expenses.When the safety fund is subsequently used for revenue expenditure the specific reserve is reduced accordingly. When the safety
fund is subsequently used for the construction or acquisition of fixed assets the Group recognises the capitalised expenditure
incurred as the cost of the fixed assets when the related assets are ready for their intended use. In such cases the specific reserve is
reduced by the amount that corresponds to the cost of the fixed assets and the credit side is recognised in the accumulated
depreciation with respect to the related fixed assets. Consequently such fixed assets are not depreciated in subsequent periods.
43. Changes in Significant Accounting Policies and Estimates
(1) Changes in Significant Accounting Policies
□Applicable□ Not applicable
(2) Changes in Accounting Estimates
□Applicable□ Not applicable
(3) Adjustments to Financial Statement Items at the Beginning of the Year of the First Implementation of the New
Accounting Standards Implemented since 2025
□Applicable□ Not applicable
44. Others
Naught
112BOE Technology Group Co. Ltd. Interim Report 2025
VI. Taxation
1. Main Taxes and Tax Rate
Category of taxes Tax basis Tax rate
Output VAT is calculated on the income from product sales provision
VAT of taxable labor services and provision of taxable services based on taxlaws. The remaining balance of output VAT after subtracting the 6% 9% 13%
deductible input VAT of the period is VAT payable.Consumption tax Naught Naught
Urban maintenance and
construction tax Based on VAT paid VAT exemption and offset for the period 7% 5%
Enterprise income tax Based on taxable income 15%-30%
Education surcharge and local
education surcharge Based on VAT paid VAT exemption and offset for the period 3% 2%
Notes of the disclosure situation of the taxpaying bodies with different enterprises income tax rate
Name Income tax rate
BOE Technology Group Co. Ltd. 15%
Beijing BOE Optoelectronics Technology Co. Ltd. 15%
Chengdu BOE Optoelectronics Technology Co. Ltd. 15%
Hefei BOE Optoelectronics Technology Co. Ltd. 15%
Qingdao BOE Optoelectronics Technology Co. Ltd. 15%
Beijing BOE Display Technology Co. Ltd. 15%
Hefei Xinsheng Optoelectronics Technology Co. Ltd. 15%
Erdos Yuansheng Optoelectronics Co. Ltd. 15%
Chongqing BOE Optoelectronics Technology Co. Ltd. 15%
BOE Mled Technology Co. Ltd. (Mled Technology) 15%
Hefei BOE Ruisheng Technology Co. Ltd. 15%
Hefei BOE Display Technology Co. Ltd. 15%
Fuzhou BOE Optoelectronics Technology Co. Ltd. 15%
Mianyang BOE Optoelectronics Technology Co. Ltd. 15%
Chongqing BOE Display Technology Co. Ltd. 15%
Wuhan BOE Optoelectronics Technology Co. Ltd. 15%
Nanjing BOE Display Technology Co. Ltd. 15%
Chengdu BOE Display Technology Co. Ltd. 15%
Mianyang BOE Electronic Technology Co. Ltd. 15%
BOE Opticalscience and Technology Co. Ltd. 15%
Beijing BOE Tea Valley Electronic Co. Ltd. 15%
Hefei BOE Display Light Source Co. Ltd. 15%
Chongqing BOE Display Lighting Co. Ltd. 15%
Chongqing BOE Intelligent Electronic System Co. Ltd. 15%
Suzhou K-Tronics Co. Ltd. 15%
BOE Jieen Texi Technology Co. Ltd. 15%
Beijing BOE Vacuum Electronics Co. Ltd. 15%
Beijing BOE Vacuum Technology Co. Ltd. 15%
BOE Smart IoT Technology Co. Ltd. 15%
Beijing Zhongxiangying Technology Co. Ltd. 15%
BOE Regenerative Medical Technologies Co. Ltd. 15%
Beijing BOE Health Technology Co. Ltd. 15%
Zhonglian Ultra-Definition (Beijing) Techonology Co. Ltd. 15%
Hefei BOE Semiconductor Co. Ltd. 15%
Yunnan Chuangshijie Optoelectronics Technology Co. Ltd. 15%
Chongqing BOE Electronic Technology Co. Ltd. 15%
Beijing BOE Sensor Technology Co. Ltd. 15%
Suzhou BOE Sensor Technology Co. Ltd. 15%
Chengdu BOE Automotive Display Technology Co. Ltd. 15%
113BOE Technology Group Co. Ltd. Interim Report 2025
Chongqing BOE Jingyuan Technology Co. Ltd. 15%
2. Tax Preferences
Innovation companies are subject to a reduced corporate income tax rate of 15%. Article 28 of the Corprate Income Tax Law of
the People's Republic of China stipulates that "innovation companies that are the focus of state support shall be subject to a
reduced corporate income tax rate of 15%. The Administrative Measures for the Recognition of Innovation Companies (G.K.F.H.[2016] No. 32) and subsequent revisions clarify the recognition conditions procedures and administrative requirements.Enterprises in encouraged industries in the western region of China are subject to a reduced corporate income tax rate of 15%.According to the Circular of the Ministry of Finance the State Administration of Taxation and the National Development and
Reform Commission on the Extension of the Corporate Income Tax Policy for the Western Development (Ministry of Finance
Circular No. 23 of 2020) enterprises in encouraged industries located in the western region are subject to a reduced corporate
income tax rate of 15%. The Catalogue of Encouraged Industries in the Western Region (the latest version of the National
Development and Reform Commission's order) specifies the specific applicable industry types (the enterprise's principal business
revenue must account for at least 60% of its total revenue).
3. Other Information
Naught
VII. Notes on Major Items in Consolidated Financial Statements of the Company
1. Cash at Bank and on Hand
Unit: RMB
Item Ending balance Beginning balance
Cash on hand 1510828.00 1528764.00
Bank deposits 64841132405.00 72723894478.00
Other monetary assets 1503794960.00 1527201973.00
Deposits placed with finance companies 0.00 0.00
Total 66346438193.00 74252625215.00
Of which: Total amount deposited overseas 8780986105.00 6539879671.00
Other notes:N/A
2. Trading Financial Assets
Unit: RMB
Item Ending balance Beginning balance
Financial assets at fair value through profit or loss 2329473453.00 3116435963.00
Of which:
Structured deposits and wealth management products 1892202158.00 2779828500.00
Equity instrument investments 437271295.00 336607463.00
Financial assets designated to be measured at fair value and
0.000.00
changes thereof recorded into the current profit or loss
114BOE Technology Group Co. Ltd. Interim Report 2025
Of which:
Total 2329473453.00 3116435963.00
Other notes:N/A
3. Notes Receivable
(1) Notes Receivable Listed by Category
Unit: RMB
Item Ending balance Beginning balance
Bank acceptance bill 337550689.00 324870516.00
Commercial acceptance bill 9536703.00 13189267.00
Total 347087392.00 338059783.00
115BOE Technology Group Co. Ltd. Interim Report 2025
(2) Disclosure by Withdrawal Methods for Bad Debts
Unit: RMB
Ending balance Beginning balance
Provision for Provision for
Carrying amount Carrying amount
Category impairment impairment
Carrying value Carrying value
Withdrawal Withdrawal
Amount Proportion Amount Amount Proportion Amount
proportion proportion
Notes receivable for which bad
debt provision separately 0.00 0.00% 0.00 0.00% 0.00 0.00 0.00% 0.00 0.00% 0.00
accrued
Of which:
Notes receivable for which bad 347109054.00 100.00% 21662.00 0.23% 347087392.00 338089361.00 100.00% 29578.00 0.22% 338059783.00
debt provision accrued by group
Of which:
Bank acceptance portfolio 337550689.00 97.25% 0.00 0.00% 337550689.00 324870516.00 96.09% 0.00 0.00% 324870516.00
Trade acceptance portfolio 9558365.00 2.75% 21662.00 0.23% 9536703.00 13218845.00 3.91% 29578.00 0.22% 13189267.00
Total 347109054.00 100.00% 21662.00 0.23% 347087392.00 338089361.00 100.00% 29578.00 0.22% 338059783.00
Category name of withdrawal of bad debt provision by group: Grouping of bank acceptance bill and grouping of commercial acceptance bill
Unit: RMB
Ending balance
Name
Carrying amount Provision for impairment Withdrawal proportion
Trade acceptance portfolio 9558365.00 21662.00 0.23%
Bank acceptance portfolio 337550689.00 0.00 0.00%
Total 347109054.00 21662.00
Notes for the basis of determining such portfolio:
Based on the characteristics of credit risk it is divided into grouping of bank acceptance bill and grouping of commercial acceptance bill.If adopting the general mode of expected credit loss to withdraw bad debt provision of notes receivable:
□Applicable □Not applicable
116BOE Technology Group Co. Ltd. Interim Report 2025
(3) Bad Debt Provision Withdrawn Reversed or Recovered in the Reporting Period
Information of bad debt provision withdrawn:
Unit: RMB
Changes in the Reporting Period
Beginning
Category Reversal or Ending balancebalance Withdrawal Write-off Others
recovery
Trade
acceptance 29578.00 0.00 -7916.00 0.00 0.00 21662.00
portfolio
Total 29578.00 0.00 -7916.00 0.00 0.00 21662.00
Of which bad debt provision reversed or recovered with significant amount:
□Applicable □Not applicable
(4) Notes Receivable Pledged by the Company at the Period-end
Unit: RMB
Item Amount pledged at the period-end
Bank acceptance bill 45930699.00
Commercial acceptance bill 0.00
Total 45930699.00
(5) Notes Receivable which Had Endorsed by the Company or Had Discounted and Had not Due on the
Balance Sheet Date at the Period-end
Unit: RMB
Amount of recognition termination at the Amount of not recognition termination at
Item
period-end the period-end
Bank acceptance bill 0.00 242750431.00
Commercial acceptance bill 0.00 0.00
Total 0.00 242750431.00
(6) Notes Receivable with Actual Verification for the Reporting Period
Unit: RMB
Item Amount verified
N/A
Of which verification of significant notes receivable:
Unit: RMB
Verification Whether generated
Reason for
Subsidiary Nature Amount verified procedures from connected
verification
performed transactions
N/A
Notes of the verification of notes receivable:N/A
117BOE Technology Group Co. Ltd. Interim Report 2025
4. Accounts Receivable
(1) Disclosure by Aging
Unit: RMB
Ageing Ending carrying balance Beginning carrying balance
Within one year (including one year) 35456040569.00 35533315993.00
One to two years 494755298.00 493435884.00
Two to three years 291090260.00 228715579.00
Over three years 367250537.00 311630959.00
Three to four years 184157092.00 174511053.00
Four to five years 107100930.00 69686365.00
Over five years 75992515.00 67433541.00
Total 36609136664.00 36567098415.00
(2) Disclosure by Withdrawal Methods for Bad Debts
Unit: RMB
Ending balance Beginning balance
Carrying amount Provision for impairment Carrying amount Provision for impairment
Category
Withdrawal Carrying value Withdrawal Carrying value
Amount Proportion Amount Amount Proportion Amount
proportion proportion
Accounts receivable
for which bad debt
541521136.001.48%40359893.007.45%501161243.00661021337.001.81%33528866.005.07%627492471.00
provision accrued
separately
Of which:
Customers with a
57766431.000.16%40359893.0069.87%17406538.0057435774.000.16%33528866.0058.38%23906908.00
high credit risk
Customers with a
483754705.001.32%0.000.00%483754705.00603585563.001.65%0.000.00%603585563.00
low credit risk
118BOE Technology Group Co. Ltd. Interim Report 2025
Accounts receivable
for which bad debt
36067615528.0098.52%254812810.000.71%35812802718.0035906077078.0098.19%195370345.000.54%35710706733.00
provision accrued by
group
Of which:
Customers with a
36067615528.0098.52%254812810.000.71%35812802718.0035906077078.0098.19%195370345.000.54%35710706733.00
moderate credit risk
Total 36609136664.00 100.00% 295172703.00 0.81% 36313963961.00 36567098415.00 100.00% 228899211.00 0.63% 36338199204.00
119BOE Technology Group Co. Ltd. Interim Report 2025
Category name of bad debt provision accrued by item: Customers with high credit risk and customers with low credit risk
Unit: RMB
Beginning balance Ending balance
Name Provision for Provision for Withdrawal Reason for
Carrying amount Carrying amount
impairment impairment proportion withdrawal
Customers with a
57435774.00 33528866.00 57766431.00 40359893.00 69.87% N/A
high credit risk
Customers with a low
603585563.00 0.00 483754705.00 0.00 0.00% N/A
credit risk
Total 661021337.00 33528866.00 541521136.00 40359893.00
Category name of withdrawal of bad debt provision by portfolio: Customers with moderate credit risk
Unit: RMB
Ending balance
Name
Carrying amount Provision for impairment Withdrawal proportion
Customers with a moderate credit risk 36067615528.00 254812810.00 0.71%
Total 36067615528.00 254812810.00
Notes for the basis of determining such portfolio:
Customer grouping Grouping basis
Customers with a high credit risk There are special circumstances such as litigation or deterioration of customer credit
standing
Customers with a low credit risk Banks insurance companies large central enterprises and public institutions
Customers with a moderate credit risk Customers not classified as the above grouping
If adopting the general mode of expected credit loss to withdraw bad debt provision of accounts receivable:
□Applicable □Not applicable
(3) Bad Debt Provision Withdrawn Reversed or Recovered in the Reporting Period
Information of bad debt provision withdrawn:
Unit: RMB
Beginning Changes in the Reporting Period
Category Ending balance
balance Withdrawal Reversal or recovery Write-off Others
Customers with a
33528866.006968341.00-126237.000.00-11076.0040359894.00
high credit risk
Customers with a
195370345.0068650795.00-7908410.00-113494.00-1186427.00254812809.00
moderate credit risk
Total 228899211.00 75619136.00 -8034647.00 -113494.00 -1197503.00 295172703.00
Of which bad debt provision reversed or recovered with significant amount:
Unit: RMB
Basis and rationality of determining
Amount reversed
Subsidiary Reason for reversal Way of recovery the original withdrawal proportion of
or recovered
bad debt provision
N/A
N/A
120BOE Technology Group Co. Ltd. Interim Report 2025
(4) Accounts Receivable with Actual Verification during the Reporting Period
Unit: RMB
Item Amount verified
Accounts receivable with actual verification 113494.00
Of which the verification of significant accounts receivable:
Unit: RMB
Verification Whether generated
Reason for
Subsidiary Nature Amount verified procedures from connected
verification
performed transactions
N/A
Notes of the verification of accounts receivable:
N/A
(5) Top Five Accounts Receivable and Contract Assets in Ending Balance Collected according to the
Arrears Party
Unit: RMB
Proportion to total Ending balance of bad debt
Ending balance of
Ending balance of Ending balance of ending balance of provision of accounts
Subsidiary accounts receivable
accounts receivable contract assets accounts receivable receivable and impairment
and contract assets
and contract assets provision for contract assets
Customer 1 4950216723.00 0.00 4950216723.00 13.45% 0.00
Customer 2 3322974312.00 0.00 3322974312.00 9.03% 0.00
Customer 3 2111244132.00 0.00 2111244132.00 5.74% 0.00
Customer 4 1825148686.00 0.00 1825148686.00 4.96% 0.00
Customer 5 1678538508.00 0.00 1678538508.00 4.56% 0.00
Total 13888122361.00 0.00 13888122361.00 37.74% 0.00
5. Contract Assets
(1) List of Contract Assets
Unit: RMB
Ending balance Beginning balance
Item Provision for Provision for
Carrying amount Carrying value Carrying amount Carrying value
impairment impairment
Contract
185476118.002301150.00183174968.00151647876.00776390.00150871486.00
assets
Total 185476118.00 2301150.00 183174968.00 151647876.00 776390.00 150871486.00
(2) Significant Changes in the Amount of Carrying Value and the Reason in the Reporting Period
Unit: RMB
Item Change in amount Reason(s)
N/A
121BOE Technology Group Co. Ltd. Interim Report 2025
(3) Disclosure by Withdrawal Methods for Bad Debts
Unit: RMB
Ending balance Beginning balance
Carrying amount Provision for impairment Carrying amount Provision for impairment
Category
Withdrawal Carrying value Withdrawal Carrying value
Amount Proportion Amount Amount Proportion Amount
proportion proportion
Bad debt
provision
185476118.00100.00%2301150.001.24%183174968.00151647876.00100.00%776390.000.51%150871486.00
separately
accrued
Of which:
Withdrawal
of bad debt
0.000.00%0.000.00%0.000.000.00%0.000.00%0.00
provision
by group
Of which:
Total 185476118.00 100.00% 2301150.00 1.24% 183174968.00 151647876.00 100.00% 776390.00 0.51% 150871486.00
Category name of bad debt provision accrued by item: Bad debt provision accrued by item
Unit: RMB
Beginning balance Ending balance
Name Withdrawal Reason for
Carrying amount Provision for impairment Carrying amount Provision for impairment
proportion withdrawal
Bad debt provision separately accrued 151647876.00 776390.00 185476118.00 2301150.00 1.24% N/A
Total 151647876.00 776390.00 185476118.00 2301150.00
Withdrawal of bad debt provision by adopting the general mode of expected credit loss
□Applicable □Not applicable
122BOE Technology Group Co. Ltd. Interim Report 2025
(4) Bad Debt Provision Withdrawn Reversed or Recovered in the Reporting Period
Unit: RMB
Withdrawal of the Reversal or recovery in
Item Verification Reason
Current Period the Reporting Period
Provision for
impairment of contract 1524760.00 0.00 0.00 N/A
assets
Total 1524760.00 0.00 0.00
Of which bad debt provision reversed or recovered with significant amount:
Unit: RMB
Basis and rationality of
determining the
Amount reversed or
Subsidiary Reason for reversal Way of recovery original withdrawal
recovered
proportion of bad debt
provision
N/A
Other notes
N/A
(5) Contract Assets Written-off in Current Period
Unit: RMB
Item Amount verified
Contract assets actually written off 0.00
Of which the verification of significant contract assets
Unit: RMB
Verification Whether generated
Reason for
Subsidiary Nature Amount verified procedures from connected
verification
performed transactions
N/A
Notes to verification of contract assets:N/A
Other notes:N/A
6. Accounts Receivable Financing
(1) Accounts Receivable Financing Listed by Category
Unit: RMB
Item Ending balance Beginning balance
Bank acceptance bill 402983269.00 472537400.00
Total 402983269.00 472537400.00
123BOE Technology Group Co. Ltd. Interim Report 2025
(2) Disclosure by Withdrawal Methods for Bad Debts
Unit: RMB
Ending balance Beginning balance
Carrying amount Provision for impairment Carrying amount Provision for impairment
Category
Withdrawal Carrying value Withdrawal Carrying value
Amount Proportion Amount Amount Proportion Amount
proportion proportion
Bad debt provision separately accrued 402983269.00 100.00% 0.00 0.00% 402983269.00 472537400.00 100.00% 0.00 0.00% 472537400.00
Of which:
Withdrawal of bad debt provision by group 0.00 0.00% 0.00 0.00% 0.00 0.00 0.00% 0.00 0.00% 0.00
Of which:
Total 402983269.00 100.00% 0.00 0.00% 402983269.00 472537400.00 100.00% 0.00 0.00% 472537400.00
Withdrawal of bad debt provision by adopting the general mode of expected credit loss
Unit: RMB
Phase I Phase II Phase III
Provision for impairment Expected credit loss in the next 12 Expected credit losses for the whole Expected credit losses for the whole Total
months existence period (no credit impairment) existence period (with credit impairment)
Balance of 1 January 2025 0.00 0.00 0.00 0.00
Balance of 1 January 2025 in the Current Period
--Transfer to Phase II 0.00 0.00 0.00 0.00
--Transfer to Phase III 0.00 0.00 0.00 0.00
--Reserve to Phase II 0.00 0.00 0.00 0.00
--Reserve to Phase I 0.00 0.00 0.00 0.00
Withdrawal of the current period 0.00 0.00 0.00 0.00
Reversal of the current period 0.00 0.00 0.00 0.00
Amount charged-off for the current period 0.00 0.00 0.00 0.00
Amount written-off for the current period 0.00 0.00 0.00 0.00
Other changes 0.00 0.00 0.00 0.00
Balance of 30 June 2025 0.00 0.00 0.00 0.00
124BOE Technology Group Co. Ltd. Interim Report 2025
The basis for the division of each stage and the withdrawal proportion of bad debt provision: N/A
Notes to significant changes in the carrying balance of accounts receivable financing for which changes in the loss reserve for the
current period occurred: N/A
(3) Bad Debt Provision Withdrawal Reversed or Recovered in the Current Period
Unit: RMB
Changes in the Reporting Period
Beginning
Category Reversal or Charged- Ending balancebalance Withdrawal Other changes
recovery off/Written-off
N/A
Of which bad debt provision reversed or recovered with significant amount:
Unit: RMB
Basis and rationality of
determining the
Amount reversed or
Subsidiary Reason for reversal Way of recovery original withdrawal
recovered
proportion of bad debt
provision
N/A
Other notes: N/A
(4) Accounts Receivable Financing Pledged by the Company at the Period-end
Unit: RMB
Item Amount pledged at the period-end
Bank acceptance bill 10094320.00
Total 10094320.00
(5) Accounts Receivable Financing Which Had Endorsed by the Company or Had Discounted and Had
not Due on the Balance Sheet Date at the Period-end
Unit: RMB
Amount of recognition termination at the Amount of not recognition termination at
Item
period-end the period-end
Bank acceptance bill 2146872770.00 0.00
Total 2146872770.00 0.00
(6) Accounts Receivable Financing with Actual Verification for the Current Period
Unit: RMB
Item Amount verified
Accounts receivable financing with actual verification 0.00
Of which the verification of significant accounts receivable financing
Unit: RMB
Verification Whether generated
Reason for
Subsidiary Nature Amount verified procedures from connected
verification
performed transactions
N/A
125BOE Technology Group Co. Ltd. Interim Report 2025
Notes to verification: N/A
(7) The Changes of Accounts Receivable Financing in the Current Period and the Changes in Fair Value
N/A
(8) Other Notes
N/A
7. Other Receivables
Unit: RMB
Item Ending balance Beginning balance
Interest receivable 0.00 0.00
Dividends receivable 432137.00 55028131.00
Other receivables 721030616.00 757843390.00
Total 721462753.00 812871521.00
(1) Interest Receivable
1) Category of Interest Receivable
Unit: RMB
Item Ending balance Beginning balance
Fixed time deposit 0.00 0.00
Entrusted loans 0.00 0.00
Bond investment 0.00 0.00
Total 0.00 0.00
2) Significant Overdue Interest
Unit: RMB
Whether occurred
Borrower Ending balance Overdue time Reason impairment and its
judgment basis
N/A
Other notes: N/A
3) Disclosure by Withdrawal Methods for Bad Debts
□Applicable □Not applicable
4) Bad Debt Provision Withdrawal Reversed or Recovered in the Current Period
Unit: RMB
Category Beginning Changes in the Reporting Period Ending balance
126BOE Technology Group Co. Ltd. Interim Report 2025
balance Reversal or Charged-
Withdrawal Other changes
recovery off/Written-off
N/A
Of which bad debt provision reversed or recovered with significant amount:
Unit: RMB
Basis and rationality of
determining the
Amount reversed or
Subsidiary Reason for reversal Way of recovery original withdrawal
recovered
proportion of bad debt
provision
N/A
Other notes: N/A
5) Interests Receivable Written-off in Current Period
Unit: RMB
Item Amount verified
Interest receivable with actual verification 0.00
Of which the verification of significant interest receivable:
Unit: RMB
Verification Whether generated
Reason for
Subsidiary Nature Amount verified procedures from connected
verification
performed transactions
N/A
Notes to verification: N/A
Other notes: N/A
(2) Dividends Receivable
1) Category of Dividends Receivable
Unit: RMB
Project (or investee) Ending balance Beginning balance
New Century Healthcare Holding Co.
432137.000.00
Ltd..Bank of Chongqing Co. Ltd. 0.00 4182370.00
Vusion Group SA 0.00 23170196.00
Danhua Capital II L.P. 0.00 10782600.00
Others 0.00 16892965.00
Total 432137.00 55028131.00
2) Significant Dividend Receivable Aging Over One Year
Unit: RMB
Whether occurred
Project (or investee) Ending balance Aging Unrecovered reason impairment and its
judgment basis
N/A
127BOE Technology Group Co. Ltd. Interim Report 2025
3) Disclosure by Withdrawal Methods for Bad Debts
□Applicable □Not applicable
4) Bad Debt Provision Withdrawal Reversed or Recovered in the Current Period
Unit: RMB
Changes in the Reporting Period
Beginning
Category Reversal or Charged- Ending balancebalance Withdrawal Other changes
recovery off/Written-off
N/A
Of which bad debt provision reversed or recovered with significant amount:
Unit: RMB
Basis and rationality of
determining the
Amount reversed or
Subsidiary Reason for reversal Way of recovery original withdrawal
recovered
proportion of bad debt
provision
N/A
Other notes: N/A
5) Dividends Receivable with Actual Verification during the Reporting Period
Unit: RMB
Item Amount verified
Dividend receivable with actual verification 0.00
Of which the verification of significant dividends receivable:
Unit: RMB
Verification Whether generated
Reason for
Subsidiary Nature Amount verified procedures from connected
verification
performed transactions
N/A
Notes to verification: N/A
Other notes: N/A
(3) Other Accounts Receivable
1) Other Account Receivable Classified by Account Nature
Unit: RMB
Nature Ending carrying balance Beginning carrying balance
Equity transfer fee receivable 200000000.00 200000000.00
Deposits and guaranteed deposits 351292345.00 394212834.00
Others 190146436.00 182495301.00
Total 741438781.00 776708135.00
2) Disclosure by Aging
Unit: RMB
128BOE Technology Group Co. Ltd. Interim Report 2025
Ageing Ending carrying balance Beginning carrying balance
Within one year (including one year) 363473761.00 357915532.00
One to two years 67765879.00 118793438.00
Two to three years 28829617.00 19227857.00
Over three years 281369524.00 280771308.00
Three to four years 5052748.00 32407497.00
Four to five years 36364528.00 15218049.00
Over five years 239952248.00 233145762.00
Total 741438781.00 776708135.00
129BOE Technology Group Co. Ltd. Interim Report 2025
3) Disclosure by Withdrawal Methods for Bad Debts
□Applicable □ Not applicable
Unit: RMB
Ending balance Beginning balance
Carrying amount Provision for impairment Carrying amount Provision for impairment
Category
Withdrawal Carrying value Withdrawal Carrying value
Amount Proportion Amount Amount Proportion Amount
proportion proportion
Bad debt provision separately accrued 633362430.00 85.42% 18721687.00 2.96% 614640743.00 707661921.00 91.11% 18297151.00 2.59% 689364770.00
Of which:
Funds with high credit risk 18721687.00 2.53% 18721687.00 100.00% 0.00 18297151.00 2.36% 18297151.00 100.00% 0.00
Funds with low credit risk 614640743.00 82.90% 0.00 0.00% 614640743.00 689364770.00 88.75% 0.00 0.00% 689364770.00
Withdrawal of bad debt provision by group 108076351.00 14.58% 1686478.00 1.56% 106389873.00 69046214.00 8.89% 567594.00 0.82% 68478620.00
Of which:
Funds with moderate credit risk 108076351.00 14.58% 1686478.00 1.56% 106389873.00 69046214.00 8.89% 567594.00 0.82% 68478620.00
Total 741438781.00 100.00% 20408165.00 2.75% 721030616.00 776708135.00 100.00% 18864745.00 2.43% 757843390.00
Category name of bad debt provision accrued by item: Funds with high credit risk and funds with low credit risk
Unit: RMB
Beginning balance Ending balance
Name Withdrawal Reason for
Carrying amount Provision for impairment Carrying amount Provision for impairment
proportion withdrawal
Funds with high credit risk 18297151.00 18297151.00 18721687.00 18721687.00 100.00% N/A
Funds with low credit risk 689364770.00 0.00 614640743.00 0.00 0.00% N/A
Total 707661921.00 18297151.00 633362430.00 18721687.00
130BOE Technology Group Co. Ltd. Interim Report 2025
Category name of withdrawal of bad debt provision by group: Funds with moderate credit risk
Unit: RMB
Ending balance
Name
Carrying amount Provision for impairment Withdrawal proportion
Funds with moderate credit
108076351.001686478.001.56%
risk
Total 108076351.00 1686478.00
Notes for the basis of determining such portfolio:
Customer grouping Grouping basis
There are special circumstances such as litigation or deterioration of
Customers with a high credit risk
customer credit standing
Customers with a low credit risk Intra-group units imprest security deposits deposits and funds with lowcredit risk to customers
Customers with a moderate credit risk Customers not classified as the above grouping
Withdrawal of bad debt provision by adopting the general mode of expected credit loss:
Unit: RMB
Phase I Phase II Phase III
Provision for Expected credit losses Expected credit losses
impairment Expected credit loss in for the whole existence for the whole existence
Total
the next 12 months period (no credit period (with credit
impairment) impairment)
Balance of 1 January
562393.005201.0018297151.0018864745.00
2025
Balance of 1 January
2025 in the Current
Period
--Transfer to Phase II 0.00 0.00 0.00 0.00
--Transfer to Phase III 0.00 0.00 0.00 0.00
--Reserve to Phase II 0.00 0.00 0.00 0.00
--Reserve to Phase I 0.00 0.00 0.00 0.00
Withdrawal of the
1629113.0042638.00183535.001855286.00
Current Period
Reversal of the current
-278147.000.00-33719.00-311866.00
period
Amount charged-off
0.000.000.000.00
for the current period
Amount written-off for
0.000.000.000.00
the current period
Other changes 0.00 0.00 0.00 0.00
Balance of 30 June
1913359.0047839.0018446967.0020408165.00
2025
The basis for the division of each phase and the withdrawal proportion of bad debt provision
Item Phase I Phase II Phase III
Credit
Credit risk has not Credit risk has increased significantly
Phase impairment has
increased significantly since initial recognition but credit
characteristics occurred after
since initial recognition impairment has occurred
initial recognition
131BOE Technology Group Co. Ltd. Interim Report 2025
Expected credit
Loss Expected credit loss in Expected credit loss for the whole
loss for the whole
provisions the next 12 months existence period
existence period
Changes of carrying amount with significant amount changed of loss provision in the current period
□Applicable □Not applicable
4) Bad Debt Provision Withdrawn Reversed or Recovered in the Reporting Period
Information of bad debt provision withdrawn:
Unit: RMB
Changes in the Reporting Period
Beginning Charged
Category Reversal or - Ending balancebalance Withdrawal Others
recovery off/Writt
en-off
Funds with high credit
18297151.00733013.00-308477.000.000.0018721687.00
risk
Funds with moderate
567594.001122273.00-3389.000.000.001686478.00
credit risk
Total 18864745.00 1855286.00 -311866.00 0.00 0.00 20408165.00
N/A
Of which the bad debt provision reversed or recovered with significant amount during the Reporting Period:
Unit: RMB
Basis and rationality of
determining the
Amount reversed or
Subsidiary Reason for reversal Way of recovery original withdrawal
recovered
proportion of bad debt
provision
N/A
N/A
5) Other Accounts Receivable with Actual Verification during the Reporting Period
Unit: RMB
Item Amount verified
N/A 0.00
Of which the verification of significant other accounts receivable:
Unit: RMB
Verification Whether generated
Reason for
Subsidiary Nature Amount verified procedures from connected
verification
performed transactions
N/A
Notes to the verification of other accounts receivable:
N/A
132BOE Technology Group Co. Ltd. Interim Report 2025
6) Top Five Other Accounts Receivable in Ending Balance Collected According to the Arrears Party
Unit: RMB
Proportion to total
ending balance of Ending balance of
Subsidiary Nature Ending balance Aging
other receivables bad debt provision
(%)
Equity transfer fee
Customer 1 200000000.00 Over five years 26.97% 0.00
receivable
Deposits and
Within one year one to two
Customer 2 guaranteed 107379000.00 14.48% 0.00
years
deposits
Customer 3 Other 87846787.00 Within one year 11.85% 0.00
Deposits and
Customer 4 guaranteed 56311337.00 Within one year 7.59% 0.00
deposits
Deposits and
One to two years four to
Customer 5 guaranteed 19656766.00 2.65% 0.00
five years
deposits
Total 471193890.00 63.55% 0.00
7) Presentation in Other Receivables Due to the Centralized Management of Fund
Unit: RMB
Amounts presented in other receivables due to the centralized
0.00
management of funds
Explanation N/A
Other notes:
N/A
8. Prepayments
(1) Listed by Aging
Unit: RMB
Ending balance Beginning balance
Ageing
Amount Proportion Amount Proportion
Within one year 576851167.00 85.00% 561764216.00 89.00%
One to two years 48860109.00 7.00% 15640256.00 2.00%
Two to three years 6810423.00 1.00% 3945077.00 1.00%
Over three years 43745854.00 7.00% 53132675.00 8.00%
Total 676267553.00 634482224.00
Notes of the reasons of the prepayment aging over one year with significant amount but failed settled in time:
The Group did not have prepayments that aged over one year with a significant amount but were not settled in time.
133BOE Technology Group Co. Ltd. Interim Report 2025
(2) Top Five of the Ending Balance of the Prepayments Collected According to the Prepayment Target
The total Top five prepayment in ending balance of the Group was RMB243581073.00 accounting for 36.00% of total closing
balance of prepayment.Other notes:
N/A
9. Inventory
Whether the Company needs to comply with disclosure requirements for real estate industry
No
134BOE Technology Group Co. Ltd. Interim Report 2025
(1) Category of Inventory
Unit: RMB
Ending balance Beginning balance
Falling price reserves Falling price reserves
Item of inventory or of inventory or
Carrying amount depreciation reserves Carrying value Carrying amount depreciation reserves Carrying value
of contract of contract
performance cost performance cost
Raw materials 10854790798.00 1729876744.00 9124914054.00 8973042046.00 1763382653.00 7209659393.00
Goods in process 7022154372.00 1253938755.00 5768215617.00 5803359611.00 1104535176.00 4698824435.00
Inventory goods 15126281632.00 3042522865.00 12083758767.00 15066294957.00 3954314368.00 11111980589.00
Turnover materials 223022711.00 90974.00 222931737.00 209462591.00 677753.00 208784838.00
Expendable biological assets 0.00 0.00 0.00 0.00 0.00 0.00
Contract performance costs 150811665.00 0.00 150811665.00 84215137.00 0.00 84215137.00
Goods in transit 0.00 0.00 0.00 0.00 0.00 0.00
Total 33377061178.00 6026429338.00 27350631840.00 30136374342.00 6822909950.00 23313464392.00
(2) Falling Price Reserves of Inventories and Impairment Provision for Contract Performance Costs
Unit: RMB
Increased amount Decrease
Item Beginning balance Ending balance
Withdrawal Others Reversal or write-off Others
Raw materials 1763382653.00 362639193.00 0.00 396145102.00 0.00 1729876744.00
Goods in process 1104535176.00 572829164.00 0.00 423425585.00 0.00 1253938755.00
Inventory goods 3954314368.00 1443485984.00 0.00 2355277487.00 0.00 3042522865.00
Turnover materials 677753.00 4234.00 0.00 591013.00 0.00 90974.00
Expendable biological assets 0.00 0.00 0.00 0.00 0.00 0.00
Contract performance costs 0.00 0.00 0.00 0.00 0.00 0.00
Total 6822909950.00 2378958575.00 0.00 3175439187.00 0.00 6026429338.00
N/A
135BOE Technology Group Co. Ltd. Interim Report 2025
Provision for depreciation in value of inventories by portfolio
Unit: RMB
Period-end Period-beginning
Portfolio name Depreciation DepreciationFalling price Beginning Falling price
Ending balance provision provision
reserves balance reserves
proportion proportion
N/A
Provision standards for depreciation in value of inventories by group
N/A
(3) Notes to the Ending Balance of Inventories Including Capitalized Borrowing Expense
N/A
(4) Amount of Contract Performance Costs Amortized in the Reporting Period
N/A
10. Current Portion of Non-current Assets
Unit: RMB
Item Ending balance Beginning balance
Debt investments due within one year 0.00 0.00
Other debt investments due within one year 0.00 0.00
Long-term receivables due within one year 3989850.00 3900201.00
Total 3989850.00 3900201.00
(1) Investments in Debt Obligations Due within One Year
□Applicable □Not applicable
(2) Other Investments in Debt Obligations Due within One Year
□Applicable □Not applicable
11. Other Current Assets
Unit: RMB
Item Ending balance Beginning balance
Contract acquisition costs 44680924.00 45112169.00
Refund costs receivable 181454811.00 166513664.00
Impairment of VAT to be offset 2576050033.00 2960415267.00
Input tax of VAT to be certified and deducted 940704961.00 503287770.00
Prepaid income tax 16877014.00 112183664.00
Others 101794148.00 166495451.00
Total 3861561891.00 3954007985.00
Other notes:N/A
136BOE Technology Group Co. Ltd. Interim Report 2025
12. Other Equity Instrument Investments
Unit: RMB
Reason for
Accumulative Accumulative assigning to
Gains recorded in Losses recorded in
gains recorded in losses recorded in measure in fair
other other Dividend income
other other value and the
Item Beginning balance comprehensive comprehensive recognized in Ending balance
comprehensive comprehensive changes included
income in the income in the current year
income in the income in the in other
current period current period
current period current period comprehensive
income
Planning long-
Listed equity instrument
257558368.00 70334118.00 4212548.00 92760577.00 152128791.00 6683665.00 316237654.00 term holding for
investment
strategic purpose
Planning long-
Unlisted equity
183813447.00 6310.00 757360.00 9921697.00 112932893.00 0.00 183062397.00 term holding for
instruments investment
strategic purpose
Total 441371815.00 70340428.00 4969908.00 102682274.00 265061684.00 6683665.00 499300051.00
137BOE Technology Group Co. Ltd. Interim Report 2025
There is derecognition in the current period
Unit: RMB
Accumulative gains Accumulative losses
Item transferred in retained transferred in retained Reason for derecognition
earnings earnings
N/A
Disclosure of non-trading equity instrument investment by items
Unit: RMB
Reason
Reason for
Amount of for other
assigning to
other compreh
measure in fair
Dividend comprehensiv ensive
Accumulative Accumulative value and the
Item income e income income
gains losses changes included
recognized transferred to transferr
in other
retained ed to
comprehensive
earnings retained
income
earnings
Listed equity Planning long-
instrument 6683665.00 182972386.00 124794911.00 0.00 term holding for N/A
investment strategic purpose
Unlisted equity Planning long-
instruments 0.00 105378210.00 112932893.00 0.00 term holding for N/A
investment strategic purpose
Other notes:
N/A
13. Long-term Receivables
(1) List of Long-term Receivables
Unit: RMB
Ending balance Beginning balance
Interval of
Item Carrying Provision for Carrying Carrying Provision for Carrying discount rate
amount impairment value amount impairment value
Financing lease
0.000.000.00492067.000.00492067.004.2%-4.75%
accounts
Of which:
unrealized financing 0.00 0.00 0.00 -3870.00 0.00 -3870.00 4.2%-4.75%
income
Installment sales of
0.00 0.00 0.00 0.00 0.00 0.00 N/A
commodities
Installment supply
0.00 0.00 0.00 0.00 0.00 0.00 N/A
of services
Others 0.00 0.00 0.00 0.00 0.00 0.00 N/A
Total 0.00 0.00 0.00 492067.00 0.00 492067.00
138BOE Technology Group Co. Ltd. Interim Report 2025
(2) Disclosure by Withdrawal Methods for Bad Debts
Unit: RMB
Ending balance Beginning balance
Provision for
Carrying amount Provision for impairment Carrying amount
Category Carrying impairment Carrying
Withdrawal value Withdrawal value
Amount Proportion Amount Amount Proportion Amount
proportion proportion
Bad debt provision separately
0.000.00%0.000.00%0.00492067.00100.00%0.000.00%492067.00
accrued
Of which:
Withdrawal of bad debt provision
0.000.00%0.000.00%0.000.000.00%0.000.00%0.00
by group
Of which:
Total 0.00 0.00% 0.00 0.00% 0.00 492067.00 100.00% 0.00 0.00% 492067.00
Category name of bad debt provision accrued by item: Customer provision by item
Unit: RMB
Beginning balance Ending balance
Name Provision for Provision for
Carrying amount Carrying amount Withdrawal proportion Reason for withdrawal
impairment impairment
Bad debt without
Customer provision by item 492067.00 0.00 0.00 0.00 0.00%
provision
Total 492067.00 0.00 0.00 0.00
139BOE Technology Group Co. Ltd. Interim Report 2025
Withdrawal of bad debt provision by adopting the general mode of expected credit loss
Unit: RMB
Phase I Phase II Phase III
Provision for impairment Lifetime expected Lifetime expectedExpected credit loss in Total
credit loss (without credit loss (with credit
the next 12 months
credit impairment) impairment)
Balance of 1 January 2025 0.00 0.00 0.00 0.00
Balance of 1 January 2025 in
the Current Period
- Transfer to Phase II 0.00 0.00 0.00 0.00
- Transfer to Phase III 0.00 0.00 0.00 0.00
- Reverse to Phase II 0.00 0.00 0.00 0.00
- Reverse to Phase I 0.00 0.00 0.00 0.00
Withdrawal of the current
0.000.000.000.00
period
Reversal of the current period 0.00 0.00 0.00 0.00
Amount charged-off for the
0.000.000.000.00
current period
Amount written-off for the
0.000.000.000.00
current period
Other changes 0.00 0.00 0.00 0.00
Balance of 30 June 2025 0.00 0.00 0.00 0.00
The basis for the division of each phase and the withdrawal proportion of bad debt provision
Not applicable
(3) Bad Debt Provision Withdrawal Reversed or Recovered in the Current Period
Unit: RMB
Changes in the Reporting Period
Category Beginning balance Reversal or Charged-off/Written- Ending balance
Withdrawal Others
recovery off
N/A
Of which the bad debt provision reversed or recovered with significant amount during the Reporting Period:
Unit: RMB
Amount reversed or Way of Basis and rationality of determining the original
Subsidiary Reason for reversal
recovered recovery withdrawal proportion of bad debt provision
N/A
Other notes: N/A
(4) Status of Long-term Receivables Written-off in Current Period
Unit: RMB
Item Amount verified
Long-term receivables actually written off 0.00
140BOE Technology Group Co. Ltd. Interim Report 2025
Of which the verification of significant long-term receivables:
Unit: RMB
Verification procedures Whether generated from
Subsidiary Nature Amount verified Reason for verification
performed connected transactions
N/A
Notes to the verification of long-term receivables:
N/A
14. Long-term Equity Investment
Unit: RMB
Increase/decrease
Wit
hdra
Beginning Beginning Profit and walDeclared Ending
loss on Adjustment of Ending balancebalance balance of
Investee Other distribution
balance of
(carrying impairment Additional Reduced investments of other imp
(carrying
equity of cash Others impairment
value) provision investment investment confirmed comprehens airm
value)
movements dividends or provision
according to ive income ent
profits
equity law prov
isio
n
I. Joint Ventures
-
Chongqing Maite 404709071.0 0.0 381354715.0
0.000.000.00233543560.000.000.000.000.00
Optoelectronics Co. Ltd. 0 0 0.00
-
404709071.00.0381354715.0
Sub-total 0.00 0.00 0.00 23354356 0.00 0.00 0.00 0.00 0.00
000.00
II. Associated Enterprises
--
Vusion Group 4890298637 4092343. 38145275 0.0 11748591 3933327662
0.000.00108704983296446800.000.00
SA .00 00 .00 0 9.00 .00
2.00.00
141BOE Technology Group Co. Ltd. Interim Report 2025
Tianjin Xianzhilian -
168991453238133551-0.01647151941
Investment Centre 0.00 0.00 80582140.0 0.00 0.00 0.00 0.00.00.00314002.000.00
(Limited Partnership) 0
-
Erdos BOE Energy 1027841294 777858312. 0.0 1026644775 777858312.
0.000.001196519.0.000.000.000.00
Investment Co. Ltd. .00 00 0 .00 00
00
Beijing Xindongneng - - -
922008650.00.0857435949.0
Investment Fund (Limited 0.00 0.00 0.00 10170853 9401848. 0.00 45000000 0.00 0.00
000
Partnership) .00 00 .00
---
4598499118396533969.385744612223802.0.04915751930395349104.
Others 0.00 57652999 2463282. 10599327 0.00.00008.00000.0000.0000.00
----
131285622311743922838574461309672290.0117485911238031225117320741
Sub-total 116763197 26794477 32107962 55913329
1.001.008.00.0009.007.006.00
2.00.00.00.00
----
135332713011743922838574461309672290.0117485911276166697117320741
Total 116763197 50148833 32107962 55913329
2.001.008.00.0009.002.006.00
2.00.00.00.00
142BOE Technology Group Co. Ltd. Interim Report 2025
The recoverable amount is determined based on the net amount of the fair value minus disposal costs
□Applicable □Not applicable
The recoverable amount is determined by the present value of the expected future cash flow
□Applicable □Not applicable
The reason for the discrepancy between the foregoing information and the information used in the impairment tests in prior years
or external information
N/A
The reason for the discrepancy between the information used in the Company’s impairment tests in prior years and the actual
situation of those years
N/A
Other notes
N/A
15. Other Non-current Financial Assets
Unit: RMB
Item Ending balance Beginning balance
Equity investments 2794234094.00 2735680042.00
Total 2794234094.00 2735680042.00
Other notes:
N/A
16. Investment Property
(1) Investment Property Adopted the Cost Measurement Mode
□Applicable □ Not applicable
Unit: RMB
Construction in
Item Houses and buildings Land use right Total
Progress
I. Original Carrying Value
1. Beginning Balance 1708322341.00 785342177.00 0.00 2493664518.00
2. Increased Amount of the
0.000.000.000.00
Period
(1) Outsourcing 0.00 0.00 0.00 0.00
(2) Transfer from
Inventory/ Fixed Assets/ 0.00 0.00 0.00 0.00
Construction in Progress
(3) Business
0.000.000.000.00
Combination Increase
143BOE Technology Group Co. Ltd. Interim Report 2025
3. Decreased Amount of the
0.000.000.000.00
Period
(1) Disposal 0.00 0.00 0.00 0.00
(2) Other Transfer 0.00 0.00 0.00 0.00
4. Ending Balance 1708322341.00 785342177.00 0.00 2493664518.00
II. Accumulative Depreciation and
Accumulative Amortization
1. Beginning Balance 530220566.00 212254212.00 0.00 742474778.00
2. Increased Amount of the 36663560.00
8293900.000.0044957460.00
Period
(1) Withdrawal or 36663560.00
8293900.000.0044957460.00
Amortization
(2) Transfer from fixed assets 0.00 0.00 0.00 0.00
3. Decreased Amount of the
0.000.000.000.00
Period
(1) Disposal 0.00 0.00 0.00 0.00
(2) Other Transfer 0.00 0.00 0.00 0.00
4. Ending Balance 566884126.00 220548112.00 0.00 787432238.00
III. Depreciation Reserves
1. Beginning Balance 0.00 0.00 0.00 0.00
2. Increased Amount of the
0.000.000.000.00
Period
(1) Withdrawal 0.00 0.00 0.00 0.00
3. Decreased Amount of the
0.000.000.000.00
Period
(1) Disposal 0.00 0.00 0.00 0.00
(2) Other Transfer 0.00 0.00 0.00 0.00
4. Ending Balance 0.00 0.00 0.00 0.00
IV. Carrying value
1. Ending Carrying Value 1141438215.00 564794065.00 0.00 1706232280.00
2. Beginning Carrying Value 1178101775.00 573087965.00 0.00 1751189740.00
The recoverable amount is determined based on the net amount of the fair value minus disposal costs
□Applicable □Not applicable
The recoverable amount is determined by the present value of the expected future cash flow
□Applicable □Not applicable
The reason for the discrepancy between the foregoing information and the information used in the impairment tests in prior years
or external information
N/A
The reason for the discrepancy between the information used in the Company’s impairment tests in prior years and the actual
situation of those years
144BOE Technology Group Co. Ltd. Interim Report 2025
N/A
Other notes:
N/A
(2) Investment Property Adopted the Fair Value Measurement Mode
□Applicable □Not applicable
(3) Projects Converted to Investment Properties and Measured at Fair Value
Unit: RMB
Accounting Impact on other
Reason for Approval Impact on gain
Item item before Amount comprehensive
conversion procedure and loss
conversion income
N/A
(4) Investment Property with Certificate of Title Uncompleted
Unit: RMB
Item Carrying value Reason
N/A
Other notes
N/A
17. Fixed Assets
Unit: RMB
Item Ending balance Beginning balance
Fixed assets 190725637780.00 204904419511.00
Disposal of fixed assets 0.00 0.00
Total 190725637780.00 204904419511.00
(1) List of Fixed Assets
Unit: RMB
Buildings and
Item Equipment Others Total
structures
I. Original Carrying Value
1. Beginning Balance 79261118702.00 345389359918.00 17406622698.00 442057101318.00
2. Increased Amount of the
562759930.002789327790.001428139130.004780226850.00
Period
(1) Purchase 20250004.00 336174268.00 923467107.00 1279891379.00
(2) Transfer from
542520254.002456828539.00502673548.003502022341.00
Construction in Progress
(3) Business Combination 0.00 0.00 0.00 0.00
145BOE Technology Group Co. Ltd. Interim Report 2025
Increase
(4) Written down with
0.00-44695.00-1657.00-46352.00
Government Grants
(5) Exchange Difference on
-10328.00-3630322.002000132.00-1640518.00
Translating Foreign Operations
3. Decreased Amount of the
3646227.00835788864.00204085927.001043521018.00
Period
(1) Disposal or Scrap 3646227.00 451146212.00 192555721.00 647348160.00
(2) Transfer to Construction
0.00384642652.0011530206.00396172858.00
in Progress
(3) Transfer to investment
0.000.000.000.00
properties
4. Ending Balance 79820232405.00 347342898844.00 18630675901.00 445793807150.00
II. Accumulated amortization
1. Beginning Balance 14105527564.00 209021095996.00 11970845588.00 235097469148.00
2. Increased Amount of the
1135813936.0016524914437.001176129865.0018836858238.00
Period
(1) Withdrawal 1136305461.00 16527309819.00 1174845069.00 18838460349.00
(2) Exchange Difference on
-491525.00-2395382.001284796.00-1602111.00
Translating Foreign Operations
3. Decreased Amount of the
621874.00634187613.00185249306.00820058793.00
Period
(1) Disposal or Scrap 621874.00 384639324.00 177825489.00 563086687.00
(2) Transfer to Construction
0.00249548289.007423817.00256972106.00
in Progress
(3) Transfer to investment
0.000.000.000.00
properties
4. Ending Balance 15240719626.00 224911822820.00 12961726147.00 253114268593.00
III. Depreciation Reserves
1. Beginning Balance 4203745.00 1812759153.00 238249761.00 2055212659.00
2. Increased Amount of the
0.00254062.00651107.00905169.00
Period
(1) Withdrawal 0.00 0.00 651107.00 651107.00
(2) Other 0.00 254062.00 0.00 254062.00
3. Decreased Amount of the
0.0090274589.0011942462.00102217051.00
Period
(1) Disposal or Scrap 0.00 53727371.00 11487035.00 65214406.00
(2) Transfer to Construction
0.0036547218.00455427.0037002645.00
in Progress
4. Ending Balance 4203745.00 1722738626.00 226958406.00 1953900777.00
IV. Carrying value
1. Ending Carrying Value 64575309034.00 120708337398.00 5441991348.00 190725637780.00
2. Beginning Carrying Value 65151387393.00 134555504769.00 5197527349.00 204904419511.00
(2) List of Fixed Assets with Certificate of Title Uncompleted
Unit: RMB
146BOE Technology Group Co. Ltd. Interim Report 2025
Item Carrying value Reason
N/A
Other notes
On 30 June 2025 the total book value of fixed assets without certificate of title was RMB 2769759407.00 and the certificate of
title is still being processed.
(3) Impairment Test of Fixed Assets
□Applicable □ Not applicable
The recoverable amount is determined based on the net amount of the fair value minus disposal costs
□Applicable □ Not applicable
Unit: RMB
Determination
Basis for
Carrying Recoverable Impairment method of fair value
Item Key parameters determining
value amount amount and disposal
key parameters
expenses
Estimation based on Business
Fixed assets 651107.00 0.00 651107.00 Fair value
market conditions research
Total 651107.00 0.00 651107.00
The recoverable amount is determined by the present value of the expected future cash flow
□Applicable □Not applicable
The reason for the discrepancy between the foregoing information and the information used in the impairment tests in prior years
or external information
N/A
The reason for the discrepancy between the information used in the Company’s impairment tests in prior years and the actual
situation of those years
N/A
Other notes:
N/A
18. Construction in Progress
Unit: RMB
Item Ending balance Beginning balance
Construction in Progress 47133068984.00 30159016097.00
Engineering materials 0.00 0.00
Total 47133068984.00 30159016097.00
147BOE Technology Group Co. Ltd. Interim Report 2025
(1) List of Construction in Progress
Unit: RMB
Ending balance Beginning balance
Item Impairment Impairment
Carrying amount Carrying value Carrying amount Carrying value
provision provision
BOE's 6th Generation New Semiconductor Display Device
13974404719.000.0013974404719.0010629806006.000.0010629806006.00
Production Line Project
BOE’s 8.6th Generation AMOLED Production Line Project 17773309662.00 0.00 17773309662.00 6992069403.00 0.00 6992069403.00
Others 15462571433.00 77216830.00 15385354603.00 12614611580.00 77470892.00 12537140688.00
Total 47210285814.00 77216830.00 47133068984.00 30236486989.00 77470892.00 30159016097.00
(2) Changes in Significant Construction in Progress during the Reporting Period
Unit: RMB
Proport
ion of
Capitaliz
accum Of which:
Trans Other ation
ulative Accumulative amount of
ferre decre Job rate of
invest amount of capitalized Capital
Item Budget Beginning balance Increased amount d in ased Ending balance schedul interests
ment in interest interests for resources
fixed amou e for the
constru capitalization the Reporting
assets nt Reportin
ctions Period
g Period
to
budget
BOE's 6th Generation Self-
New Semiconductor
29000000000.0010629806006.003344598713.00
financing
0.000.0013974404719.0098.77%98.77%105736436.0015520027.002.35%
Display Device and
Production Line Project borrowing
Self-
BOE’s 8.6th Generation
financing
AMOLED Production 63000000000.00 6992069403.00 10781240259.00 0.00 0.00 17773309662.00 28.63% 28.63% 14606250.00 14606250.00 2.85%
and
Line Project
borrowing
Total 92000000000.00 17621875409.00 14125838972.00 0.00 0.00 31747714381.00 120342686.00 30126277.00
148BOE Technology Group Co. Ltd. Interim Report 2025
(3) Provisions for Impairment of Construction in Progress during the Reporting Period
Unit: RMB
Reason for
Item Beginning balance Increase Decrease Ending balance
withdrawal
The project is in an
Engineering idle state and
projects and cannot continue to
77470892.000.00254062.0077216830.00
machinery be used or there
equipment are no plans to use
it temporarily
Total 77470892.00 0.00 254062.00 77216830.00 --
Other notes
N/A
(4) Impairment Test of Construction in Progress
□Applicable □Not applicable
(5) Engineering Materials
Unit: RMB
Ending balance Beginning balance
Item Carrying Impairment Carrying Impairment
Carrying value Carrying value
amount provision amount provision
N/A
Total 0.00 0.00
Other notes:
N/A
19. Right-of-use Assets
(1) List of Right-of-use Assets
Unit: RMB
Buildings and
Item Equipment Others Total
structures
I. Original Carrying
Value
1. Beginning
1075962333.0015913107.00190446902.001282322342.00
Balance
2. Increased
63478255.000.00964302.0064442557.00
Amount of the Period
(1) Increase 47994983.00 0.00 923935.00 48918918.00
(2) Exchange
15483272.000.0040367.0015523639.00
rate fluctuation
(3) Business 0.00 0.00 0.00 0.00
149BOE Technology Group Co. Ltd. Interim Report 2025
Combination Increase
3. Decreased
17615063.000.000.0017615063.00
Amount of the Period
4. Ending Balance 1121825525.00 15913107.00 191411204.00 1329149836.00
II. Accumulated
amortization
1. Beginning
477999532.0010683598.0039230932.00527914062.00
Balance
2. Increased
98205066.002577982.005412578.00106195626.00
Amount of the Period
(1)
91313823.002577982.005372211.0099264016.00
Withdrawal
(2) Exchange
6891243.000.0040367.006931610.00
rate fluctuation
3. Decreased
6576553.000.000.006576553.00
Amount of the Period
(1) Disposal 6576553.00 0.00 0.00 6576553.00
4. Ending Balance 569628045.00 13261580.00 44643510.00 627533135.00
III. Depreciation
Reserves
1. Beginning
0.000.000.000.00
Balance
2. Increased
0.000.000.000.00
Amount of the Period
(1)
0.000.000.000.00
Withdrawal
3. Decreased
0.000.000.000.00
Amount of the Period
(1) Disposal 0.00 0.00 0.00 0.00
4. Ending Balance 0.00 0.00 0.00 0.00
IV. Carrying value
1. Ending
552197480.002651527.00146767694.00701616701.00
Carrying Value
2. Beginning
597962801.005229509.00151215970.00754408280.00
Carrying Value
(2) Impairment Test of Right-of-use Assets
□Applicable □Not applicable
Other notes:
N/A
150BOE Technology Group Co. Ltd. Interim Report 2025
20. Intangible Assets
(1) List of Intangible Assets
Unit: RMB
Non-patent Patent rights and
Item Land use right Patent Computer software Others Total
technology proprietary technologies
I. Original Carrying Value
1. Beginning Balance 8330914335.00 0.00 0.00 6386074855.00 2540120486.00 816647150.00 18073756826.00
2. Increased Amount of the
-998048.000.000.0085883767.00101755701.001276070.00
Period 187917490.00
(1) Purchase 556831.00 0.00 0.00 8000000.00 51405049.00 1435500.00
61397380.00
(2) Internal R&D 0.00 0.00 0.00 77289944.00 0.00 0.00 77289944.00
(3) Business Combination
0.000.000.000.000.000.000.00
Increase
(4) Transfer from
0.000.000.000.0050607886.000.0050607886.00
construction in progress
(5) Exchange Difference on
-1554879.000.000.00593823.00-257234.00-159430.00-1377720.00
Translating Foreign Operations
3. Decreased Amount of the
0.000.000.000.000.000.000.00
Period
(1) Disposal 0.00 0.00 0.00 0.00 0.00 0.00 0.00
4. Ending Balance 8329916287.00 0.00 0.00 6471958622.00 2641876187.00 817923220.00 18261674316.00
II. Accumulated amortization
1. Beginning Balance 1043218572.00 0.00 0.00 3710878801.00 1636822609.00 393725976.00 6784645958.00
2. Increased Amount of the
107588751.000.000.00277707584.00123328235.0035796826.00544421396.00
Period
(1) Withdrawal 107622905.00 0.00 0.00 277113761.00 123350742.00 35905925.00 543993333.00
(2) Exchange difference on
-34154.000.000.00593823.00-22507.00-109099.00428063.00
translating foreign operations
151BOE Technology Group Co. Ltd. Interim Report 2025
3. Decreased Amount of the
0.000.000.000.000.000.000.00
Period
(1) Disposal 0.00 0.00 0.00 0.00 0.00 0.00 0.00
4. Ending Balance 1150807323.00 0.00 0.00 3988586385.00 1760150844.00 429522802.00 7329067354.00
III. Depreciation Reserves
1. Beginning Balance 0.00 0.00 0.00 25647674.00 0.00 0.00 25647674.00
2. Increased Amount of the
0.000.000.000.000.000.000.00
Period
(1) Withdrawal 0.00 0.00 0.00 0.00 0.00 0.00 0.00
3. Decreased Amount of the
0.000.000.000.000.000.000.00
Period
(1) Disposal 0.00 0.00 0.00 0.00 0.00 0.00 0.00
4. Ending Balance 0.00 0.00 0.00 25647674.00 0.00 0.00 25647674.00
IV. Carrying value
1. Ending Carrying Value 7179108964.00 0.00 0.00 2457724563.00 881725343.00 388400418.00 10906959288.00
2. Beginning Carrying Value 7287695763.00 0.00 0.00 2649548380.00 903297877.00 422921174.00 11263463194.00
The proportion of intangible assets formed from the internal R&D of the Company at the period-end to the ending balance of intangible assets was 5.29%.
152BOE Technology Group Co. Ltd. Interim Report 2025
(2) Data Resources Recognized as Intangible Assets
Unit: RMB
Data resources
Purchased data Self-processed data
Item acquired by other Total
resources resources
means
1. Beginning Balance 0.00 0.00 0.00 0.00
2. Increased Amount of
0.000.000.000.00
the Period
Of which:
0.000.000.000.00
Purchase
Internal
0.000.000.000.00
R&D
Other
0.000.000.000.00
increase
3. Decreased Amount
0.000.000.000.00
of the Period
Of which:
0.000.000.000.00
Disposal
Invalid
0.000.000.000.00
and derecognition
Other
0.000.000.000.00
decrease
4. Ending Balance 0.00 0.00 0.00 0.00
1. Beginning Balance 0.00 0.00 0.00 0.00
2. Increased Amount of
0.000.000.000.00
the Period
3. Decreased Amount
0.000.000.000.00
of the Period
Of which:
0.000.000.000.00
Disposal
Invalid
0.000.000.000.00
and derecognition
Other
0.000.000.000.00
decrease
4. Ending Balance 0.00 0.00 0.00 0.00
1. Beginning Balance 0.00 0.00 0.00 0.00
2. Increased Amount of
0.000.000.000.00
the Period
3. Decreased Amount
0.000.000.000.00
of the Period
4. Ending Balance 0.00 0.00 0.00 0.00
1. Ending Carrying
0.000.000.000.00
Value
2. Beginning Carrying
0.000.000.000.00
Value
N/A
153BOE Technology Group Co. Ltd. Interim Report 2025
(3) Land Use Right with Certificate of Title Uncompleted
Unit: RMB
Item Carrying value Reason
N/A
Other notes
N/A
(4) Impairment Test of Intangible Assets
□Applicable □Not applicable
21. Goodwill
(1) Original Carrying Value of Goodwill
Unit: RMB
Increase Decrease
Formed
Name of the invested units or Beginning by Ending balance
events generating goodwill balance business Disposal
combinati
on
Beijing Yinghe Century Co. Ltd. 42940434.00 0.00 0.00 0.00 0.00 42940434.00
K-Tronics (Suzhou) Technology
8562464.000.000.000.000.008562464.00
Co. Ltd.Beijing BOE Optoelectronics
4423876.000.000.000.000.004423876.00
Technology Co. Ltd.BOE Health Investment
146460790.000.000.000.000.00146460790.00
Management Co. Ltd.Chengdu BOE Display
537038971.000.000.000.000.00537038971.00
Technology Co. Ltd.Nanjing BOE Display
155714415.000.000.000.000.00155714415.00
Technology Co. Ltd.United Ultra High-Definition
Video(Beijing) Technology Co. 14285847.00 0.00 0.00 0.00 0.00 14285847.00
Ltd.BOE HC Semitek Co. Ltd. 29596088.00 0.00 0.00 0.00 0.00 29596088.00
Total 939022885.00 0.00 0.00 0.00 0.00 939022885.00
(2) Provisions for Impairment of Goodwill
Unit: RMB
Increase Decrease
Name of the invested units or
Beginning balance
events generating goodwill Withdra
Ending balance
Disposal
wal
Beijing BOE Optoelectronics
4423876.000.000.000.000.004423876.00
Technology Co. Ltd.BOE Health Investment
133268233.000.000.000.000.00133268233.00
Management Co. Ltd.
154BOE Technology Group Co. Ltd. Interim Report 2025
Chengdu BOE Display Technology
147755754.000.000.000.000.00147755754.00
Co. Ltd.Total 285447863.00 0.00 0.00 0.00 0.00 285447863.00
(3) Information on the Assets Groups or Combination of Assets Groups which Goodwill Is
Composition and Basis of the
Asset Group or Combination Operating Segment to which Whether it is Consistent with
Name
of Asset Groups to which it it Belongs and Basis that of the Prior Years
Belongs
N/A
Changes in the assets group or combination of assets groups
Composition before the Objective facts leading to the
Name Composition after the change
change change and their basis
N/A
Other notes
N/A
(4) Specific Method of Determining the Recoverable Amount
The recoverable amount is determined based on the net amount of the fair value minus disposal costs
□Applicable □Not applicable
The recoverable amount is determined by the present value of the expected future cash flow
□Applicable □Not applicable
The reason for the discrepancy between the foregoing information and the information used in the impairment tests in prior years
or external information
N/A
The reason for the discrepancy between the information used in the Company’s impairment tests in prior years and the actual
situation of those years
N/A
(5) Completion of Commitments to Results and Corresponding Goodwill Impairment
When goodwill is formed there is a commitment to the results and the Reporting Period or the period preceding the Reporting
Period is within the commitment period
□Applicable □Not applicable
Other notes
N/A
22. Long-term Prepaid Expense
Unit: RMB
155BOE Technology Group Co. Ltd. Interim Report 2025
Amortization
Other decreased
Item Beginning balance Increased amount amount of the Ending balance
amount
period
Prepaid
technology usage 288093493.00 25556202.00 35483065.00 0.00 278166630.00
fee
Others 310351430.00 45169353.00 46074631.00 0.00 309446152.00
Total 598444923.00 70725555.00 81557696.00 0.00 587612782.00
Other notes
N/A
23. Deferred Income Tax Assets/Deferred Income Tax Liabilities
(1) Deferred Income Tax Assets that Had not Been Off-set
Unit: RMB
Ending balance Beginning balance
Item Deductible temporary Deferred income tax Deductible temporary Deferred income tax
difference assets difference assets
Provision for
779066273.00133417834.00813547069.00139856263.00
impairment of assets
Unrealized profit of
0.000.000.000.00
internal transactions
Deductible loss 3773052843.00 581615927.00 3787640423.00 586142140.00
Leasing liabilities 449577883.00 102936593.00 502310310.00 110285658.00
Others 1503136858.00 235855832.00 1298567979.00 206999637.00
Total 6504833857.00 1053826186.00 6402065781.00 1043283698.00
(2) Deferred Income Tax Liabilities Had not Been Off-set
Unit: RMB
Ending balance Beginning balance
Item Taxable temporary Taxable temporary
Deferred tax liabilities Deferred tax liabilities
difference difference
Assets assessment
appreciation from
business consolidation 1865644856.00 359444144.00 1868042116.00 374150237.00
not under the same
control
Changes in fair value
of investment in other 0.00 0.00 0.00 0.00
debt obligations
Changes in fair value
of other investments in 0.00 0.00 0.00 0.00
equity instruments
Depreciation of fixed
4650721514.00700853719.005105826894.00769120651.00
assets
Long-term equity
1468290470.00279570031.001487863171.00282505936.00
investment
156BOE Technology Group Co. Ltd. Interim Report 2025
Right-of-use assets 491173040.00 97857948.00 503216511.00 101062209.00
Others 2393336302.00 405041854.00 511688145.00 112355137.00
Total 10869166182.00 1842767696.00 9476636837.00 1639194170.00
(3) Deferred Income Tax Assets or Liabilities Listed by Net Amount after Off-set
Unit: RMB
Mutual set-off amount Amount of deferred Mutual set-off amount Amount of deferred
of deferred income tax income tax assets or of deferred income tax income tax assets or
Item
assets and liabilities at liabilities after off-set assets and liabilities at liabilities after off-set
the period-end at the period-end the period-begin at the period-begin
Deferred income tax
322870816.00730955370.00348395423.00694888275.00
assets
Deferred tax liabilities 322870816.00 1519896880.00 348395423.00 1290798747.00
(4) List of Unrecognized Deferred Income Tax Assets
Unit: RMB
Item Ending balance Beginning balance
Deductible temporary difference 14812336429.00 23454408247.00
Deductible loss 66615839188.00 66975969671.00
Total 81428175617.00 90430377918.00
(5) Deductible Losses of Unrecognized Deferred Income Tax Assets Will Due in the Following Years
Unit: RMB
Investments at the end of the Investments at the beginning
Year Note
period of the period
20250.00637426137.00
2026949200676.001070157082.00
2027898304729.001431984146.00
20283362989088.003433591756.00
20296266006092.006862197069.00
20305377330269.004250636379.00
20312694101741.002712347426.00
203215671711043.0021489965319.00
203312728520297.0013370606261.00
203413363485201.0010955646330.00
20354778898240.000.00
Indefinite 525291812.00 761411766.00
Total 66615839188.00 66975969671.00
Other notes
N/A
157BOE Technology Group Co. Ltd. Interim Report 2025
24. Other Non-current Assets
Unit: RMB
Ending balance Beginning balance
Imp
Impairm
Item airment
Carrying amount Carrying value Carrying amount ent Carrying value
provisio
prov
n
ision
Contract
acquisition 0.00 0.00 0.00 0.00 0.00 0.00
costs
Contract
performance 2486368.00 0.00 2486368.00 2318492.00 0.00 2318492.00
costs
Refund costs
0.000.000.000.000.000.00
receivable
Contract assets 13610999.00 0.00 13610999.00 17401749.00 0.00 17401749.00
Large-
denomination
certificates of 9858377466.00 0.00 9858377466.00 13348874212.00 0.00 13348874212.00
deposit and
time deposits
Prepayments
related to long- 5193060853.00 0.00 5193060853.00 4519888840.00 0.00 4519888840.00
term assets
Imposition of
VAT of
1823694544.000.001823694544.000.000.000.00
imported
equipment
Others 1100892784.00 0.00 1100892784.00 1102739252.00 0.00 1102739252.00
Total 17992123014.00 0.00 17992123014.00 18991222545.00 0.00 18991222545.00
Other notes:
N/A
158BOE Technology Group Co. Ltd. Interim Report 2025
25. Assets with Restricted Ownership or Right of Use
Unit: RMB
Period-end Period-beginning
Item Type of Type of
Carrying amount Carrying value Status of restriction Carrying amount Carrying value Status of restriction
restriction restriction
Mainly refer to margin Mainly refer to margin
Cash at bank 1266717604.00 1266717604.00 Pledged deposits pledged for the 1441761424.00 1441761424.00 Pledged deposits pledged for the
issuance of bills payable issuance of bills payable
Endorsed transfer with Endorsed transfer with
Notes
288681130.00 288681130.00 Pledged recourse and pledge for 246112676.00 246112676.00 Pledged recourse and pledge for
receivable
issuance of bills payable issuance of bills payable
Inventories 0.00 0.00 N/A N/A 0.00 0.00 N/A N/A
Fixed assets 220906484652.00 111614048947.00 Mortgaged Mortgaged for guarantee 237348939293.00 126896353640.00 Mortgaged Mortgaged for guarantee
Intangible
2218507395.00 1890836908.00 Mortgaged Mortgaged for guarantee 2264095450.00 1954974874.00 Mortgaged Mortgaged for guarantee
assets
Construction
16900999499.00 16900999499.00 Mortgaged Mortgaged for guarantee 11473130082.00 11473130082.00 Mortgaged Mortgaged for guarantee
in Progress
Investment
240254033.00 212273670.00 Mortgaged Mortgaged for guarantee 154510137.00 154510137.00 Mortgaged Mortgaged for guarantee
properties
Other non-
107189009.00 107189009.00 Other Other 157708950.00 157708950.00 Other Other
current assets
Accounts Pledge is used to borrow
591715934.00 585179844.00 Pledged 0.00 0.00 N/A N/A
Receivable money
Total 242520549256.00 132865926611.00 253086258012.00 142324551783.00
Other notes: N/A
26. Short-term Borrowings
(1) Category of Short-term Borrowings
Unit: RMB
159BOE Technology Group Co. Ltd. Interim Report 2025
Item Ending balance Beginning balance
Pledged loans 221251888.00 243791874.00
Mortgage loans 0.00 0.00
Borrowings secured by guarantee 878108844.00 1027353266.00
Credit borrowings 733261961.00 292172026.00
Total 1832622693.00 1563317166.00
160BOE Technology Group Co. Ltd. Interim Report 2025
Notes of the category of short-term borrowings:
N/A
(2) Overdue and Outstanding Short-term Borrowings
The amount of the overdue unpaid short-term borrowings at the period-end was RMB0.00 of which the significant overdue unpaid
short-term borrowings are as follows:
Unit: RMB
Borrower Ending balance Interest rate Overdue time Overdue charge rate
N/A
Other notes: N/A
27. Notes Payable
Unit: RMB
Category Ending balance Beginning balance
Trade acceptance bill 0.00 9031243.00
Bank acceptance bill 1604094599.00 1390526726.00
Total 1604094599.00 1399557969.00
The total amount of notes payable that are due but unpaid amounted to RMB0.00 at the end of the current period. There is no
reason why they are due but not paid.
28. Accounts Payable
(1) List of Accounts Payable
Unit: RMB
Item Ending balance Beginning balance
Payable to related parties 147187803.00 314617966.00
Payable to third parties 36840108113.00 36398880440.00
Total 36987295916.00 36713498406.00
(2) Significant Accounts Payable Aging over One Year or Overdue
Unit: RMB
Item Ending balance Reason for not repayment or carry-over
N/A
Other notes:
N/A
29. Other Payables
Unit: RMB
Item Ending balance Beginning balance
161BOE Technology Group Co. Ltd. Interim Report 2025
Interest payable 0.00 0.00
Dividends payable 89507050.00 42861753.00
Other payables 20580547698.00 20785100817.00
Total 20670054748.00 20827962570.00
(1) Interest Payable
Unit: RMB
Item Ending balance Beginning balance
Interest on long-term borrowings with
interest paid by installment and principal 0.00 0.00
paid at maturity
Interest on corporate bonds 0.00 0.00
Interest payable on short-term
0.000.00
borrowings
Interest on preferred shares\perpetual
0.000.00
bonds divided as financial liabilities
Others 0.00 0.00
Total 0.00 0.00
List of the significant overdue unpaid interest:
Unit: RMB
Borrower Overdue amount Reason
N/A
Other notes:
N/A
(2) Dividends Payable
Unit: RMB
Item Ending balance Beginning balance
Ordinary share dividends 89507050.00 42861753.00
Dividends on preferred shares\perpetual
0.000.00
bonds divided as equity instruments
Others 0.00 0.00
Total 89507050.00 42861753.00
Other notes including significant dividends payable unpaid for over one year the unpaid reason shall be disclosed:
N/A
(3) Other Payables
1) Other Payables Listed by Nature
Unit: RMB
162BOE Technology Group Co. Ltd. Interim Report 2025
Item Ending balance Beginning balance
Payment for construction and equipment 15883796577.00 15590702070.00
Financial transactions 3261976028.00 3236033067.00
Deposits and guaranteed deposits 573170893.00 581371160.00
Restricted stock repurchase obligations 16947000.00 228786210.00
Others 844657200.00 1148208310.00
Total 20580547698.00 20785100817.00
2) Significant Other Accounts Payable Aging over One Year or Overdue
Unit: RMB
Item Ending balance Reason for not repayment or carry-over
N/A
Other notes
N/A
30. Advances from Customers
(1) List of Advances from Customers
Unit: RMB
Item Ending balance Beginning balance
Advances from third parties 107840015.00 118768688.00
Advances from related parties 39932.00 202505.00
Total 107879947.00 118971193.00
(2) Significant Advances from Customers Aging over One Year or Overdue
Unit: RMB
Item Ending balance Reason for not repayment or carry-over
N/A
Unit: RMB
Item Change in amount Reason(s)
N/A
Other notes:
N/A
31. Contract Liability
Unit: RMB
Item Ending balance Beginning balance
Product sales 1848321535.00 2083836158.00
Total 1848321535.00 2083836158.00
Significant contract liabilities aging over one year
Unit: RMB
163BOE Technology Group Co. Ltd. Interim Report 2025
Item Ending balance Reason for not repayment or carry-over
N/A
Significant changes in the amount of carrying value and the reason in the Reporting Period
Unit: RMB
Change
Item in Reason(s)
amount
N/A
32. Payroll Payable
(1) List of Payroll Payable
Unit: RMB
Item Beginning balance Increase Decrease Ending balance
I. Short-term salary 4028727032.00 10302477874.00 10557018940.00 3774185966.00
II. Post-employment
benefit-defined 45247997.00 947059201.00 960285191.00 32022007.00
contribution plans
III. Termination
2033359.008349230.008534685.001847904.00
benefits
IV. Current portion of
0.000.000.000.00
other benefits
Total 4076008388.00 11257886305.00 11525838816.00 3808055877.00
(2) List of Short-term Salary
Unit: RMB
Item Beginning balance Increase Decrease Ending balance
1. Salary bonus
2710530885.008443315777.008813823756.002340022906.00
allowance subsidy
2. Employee welfare 0.00 590095998.00 590095998.00 0.00
3. Social insurance 34440204.00 485349746.00 484726043.00 35063907.00
Of which:
Medical insurance 30332749.00 443042600.00 442986945.00 30388404.00
premiums
Work-
2139668.0030815457.0030825556.002129569.00
related injury insurance
Maternity
1967787.0011491689.0010913542.002545934.00
insurance
4. Housing fund 24714192.00 552329542.00 547318628.00 29725106.00
5. Labor union budget
and employee 1236499162.00 230735966.00 118828376.00 1348406752.00
education budget
6. Short-term absence
0.000.000.000.00
with payment
7. Short-term profit
1983637.0084566.001674101.00394102.00
sharing plan
164BOE Technology Group Co. Ltd. Interim Report 2025
8. Bonus and welfare
20553209.000.000.0020553209.00
fund for staff
9. Other short-term
5743.00566279.00552038.0019984.00
remuneration
Total 4028727032.00 10302477874.00 10557018940.00 3774185966.00
(3) List of Defined Contribution Plans
Unit: RMB
Item Beginning balance Increase Decrease Ending balance
1. Basic pension
27887452.00871129192.00869980986.0029035658.00
benefits
2. Unemployment
928073.0029782908.0029747062.00963919.00
insurance
3. Annuity 16432472.00 46147101.00 60557143.00 2022430.00
Total 45247997.00 947059201.00 960285191.00 32022007.00
Other notes
N/A
33. Taxes Payable
Unit: RMB
Item Ending balance Beginning balance
VAT 130935634.00 314302588.00
Consumption tax 0.00 0.00
Corporate income tax 246855110.00 661144508.00
Personal income tax 38335117.00 42608326.00
City maintenance and construction tax 235698788.00 243831131.00
Education fees and local education
168367938.00174228317.00
surcharge
Others 133688617.00 140491726.00
Total 953881204.00 1576606596.00
Other notes
N/A
34. Non-current Liabilities Due within One Year
Unit: RMB
Item Ending balance Beginning balance
Current portion of long-term borrowings 31132517983.00 42892065934.00
Current portion of bonds payable 0.00 0.00
Current portion of long-term payables 21710171.00 22944576.00
Current portion of lease liabilities 120981087.00 147060968.00
Current portion of others 244468133.00 444468133.00
165BOE Technology Group Co. Ltd. Interim Report 2025
Total 31519677374.00 43506539611.00
Other notes:
N/A
35. Other Current Liabilities
Unit: RMB
Item Ending balance Beginning balance
Short-term bonds payable 0.00 0.00
Refunds payable 176908645.00 162899829.00
Warranty provisions 2921813181.00 2508912990.00
Deferred output tax 125188671.00 144057137.00
Others 764848994.00 579101184.00
Total 3988759491.00 3394971140.00
Increase/decrease of the short-term bonds payable:
Unit: RMB
Amort
izatio
Intere Repai
Issued n of
Begin st d in Endin
Coup Bond Issue in the premi Defau
Bond Par Issue ning accrue the g
on durati amou curren um lt or
name value date balanc d at curren balanc
rate on nt t and not
e par t e
period depre
value period
ciatio
n
N/A
Total
Other notes:
N/A
36. Long-term Borrowings
(1) Category of Long-term Borrowings
Unit: RMB
Item Ending balance Beginning balance
Pledged loans 525763709.00 583358080.00
Mortgage loans 46151448230.00 45093119065.00
Borrowings secured by guarantee 3067201729.00 3288129230.00
Credit borrowings 50193207421.00 51967785365.00
Total 99937621089.00 100932391740.00
Note to the category of long-term borrowings:
N/A
166BOE Technology Group Co. Ltd. Interim Report 2025
Other notes including interest rate range:
The interest rate range for the Group’s long-term RMB borrowings this year is 1.20% to 4.40% (2024: 1.20% to 4.65%).
37. Bonds payable
(1) Bonds payable
Unit: RMB
Item Ending balance Beginning balance
The Public Offering of BOE Technology
Group Co. Ltd. of Technological
Innovation Corporate Bonds (First 1994437745.00 0.00
Tranche) in 2025 to Professional
Investors
The 2025 First Tranche of Medium-Term
Notes (Technological Innovation Notes) 2002511933.00 0.00
of BOE Technology Group Co. Ltd.The 2025 Second Tranche of
Technological Innovation Bonds of BOE 999990574.00 0.00
Technology Group Co. Ltd.The 2025 Third Tranche of
Technological Innovation Bonds of BOE 997423446.00 0.00
Technology Group Co. Ltd.Total 5994363698.00 0.00
167BOE Technology Group Co. Ltd. Interim Report 2025
(2) Changes in bonds payable (excluding preference shares perpetual bonds and other financial instruments classified as financial liabilities)
Unit: RMB
Amortizati
on of Repaid
Interest
Coupon Bond Beginnin Issued in the premium in the Default
Bond name Par value Issue date Issue amount accrued at par Ending balance
rate duration g balance current period and current or not
value
depreciatio period
n
The Public Offering of
BOE Technology Group
Co. Ltd. of Technological
13 June
Innovation Corporate 100.00 1.94% 5 years 2000000000.00 0.00 2000000000.00 1913425.00 71491.00 0.00 1994437745.00 No
2025
Bonds (First Tranche) in
2025 to Professional
Investors
The 2025 First Tranche of
Medium-Term Notes
(Technological Innovation 23 April
100.00 2.23% 10 years 2000000000.00 0.00 2000000000.00 8309041.00 99118.00 0.00 2002511933.00 No
Notes) of BOE 2025
Technology Group Co.Ltd.The 2025 Second Tranche
of Technological
13 May
Innovation Bonds of BOE 100.00 2.23% 10 years 1000000000.00 0.00 1000000000.00 2932603.00 35329.00 0.00 999990574.00 No
2025
Technology Group Co.Ltd.The 2025 Third Tranche
of Technological
24 June
Innovation Bonds of BOE 100.00 1.77% 3 years 1000000000.00 0.00 1000000000.00 290959.00 15506.00 0.00 997423446.00 No
2025
Technology Group Co.Ltd.Total 6000000000.00 0.00 6000000000.00 13446028.00 221444.00 0.00 5994363698.00
168BOE Technology Group Co. Ltd. Interim Report 2025
38. Lease Liabilities
Unit: RMB
Item Ending balance Beginning balance
Long-term lease liabilities 731978795.00 778479954.00
Current portion of lease liabilities -120981087.00 -147060968.00
Total 610997708.00 631418986.00
Other notes:
N/A
39. Long-termAccounts Payable
Unit: RMB
Item Ending balance Beginning balance
Long-term payables 112394106.00 121077871.00
Specific payables 0.00 0.00
Total 112394106.00 121077871.00
(1) Long-term Accounts Payable Listed by Nature of Account
Unit: RMB
Item Ending balance Beginning balance
Long-term payables 112394106.00 121077871.00
Other notes:
N/A
(2) Specific Payable
Unit: RMB
Item Beginning balance Increase Decrease Ending balance Formed reason
N/A
Total 0.00 0.00
Other notes:
N/A
40. Provisions
Unit: RMB
Item Ending balance Beginning balance Formed reason
Guarantees provided for
0.00 0.00 N/A
external parties
Expected losses from pending
Pending litigation 0.00 1652566.00
litigation
Product quality assurance 0.00 0.00 N/A
169BOE Technology Group Co. Ltd. Interim Report 2025
Restructuring obligation 0.00 0.00 N/A
Pending loss-making
0.00 0.00 N/A
contracts
Refunds payable 0.00 0.00 N/A
Others 0.00 0.00 N/A
Total 0.00 1652566.00
Other notes including notes to related significant assumptions and evaluation of significant provisions:
N/A
41. Deferred Income
Unit: RMB
Item Beginning balance Increase Decrease Ending balance Formed reason
Government grants 4544617931.00 3132654853.00 889111005.00 6788161779.00 Government grants
Total 4544617931.00 3132654853.00 889111005.00 6788161779.00
Other notes: N/A
42. Other Non-current Liabilities
Unit: RMB
Item Ending balance Beginning balance
Contract liabilities 409636666.00 598585547.00
Contribution of non-controlling interests
2044397481.002047376157.00
with redemption provisions
Deferral of VAT on imported equipment 1823694544.00 0.00
Others 2720106.00 2861055.00
Total 4280448797.00 2648822759.00
Other notes:
N/A
43. Share Capital
Unit: RMB
Increase/decrease (+/-)
Item Beginning balance BonusNew Bonus Ending balance
issue from Others Sub-total
issues shares
profit
Total
37645016203.000.000.000.00-231135739.00-231135739.0037413880464.00
shares
Other notes:
N/A
170BOE Technology Group Co. Ltd. Interim Report 2025
44. Other Equity Instrument
(1) The Basic Information of Other Financial Instruments such as Preferred Stock and Perpetual Bond Outstanding at the
End of the Period
N/A
(2) Changes in Financial Instruments such as Preferred Stock and Perpetual Bond Outstanding at the End of the Period
Unit: RMB
Outstan Period-beginning Increase Decrease Period-end
ding
financial CarryiQuanti Quanti
instrume Quantity Carrying value Carrying value Quantity Carrying value ngty ty
nts value
22BOE
20000000.002043402946.000.0015917809.0020000000.002059320755.000.000.00
Y1
Total 20000000.00 2043402946.00 0.00 15917809.00 20000000.00 2059320755.00 0.00 0.00
Changes in other equity instruments for the Current Period explanation on reasons for the changes and basis for related accounting
treatment:
On 24 March 2022 the Company issued the 2022 publicly issued renewable corporate bonds of BOE Technology Group Co. Ltd.(to qualified investors) abbreviated as "22BOEY1" (hereinafter referred to as the "2022 Bonds"). As at 30 June 2025 the 2022
Bonds have matured and been redeemed in full.Other notes:N/A
45. Capital Reserves
Unit: RMB
Item Beginning balance Increase Decrease Ending balance
Capital premium
50268947500.000.00601788724.0049667158776.00
(premium on stock)
Other capital reserves 1938626206.00 44811992.00 0.00 1983438198.00
Total 52207573706.00 44811992.00 601788724.00 51650596974.00
Other notes including a description of the increase or decrease for the current period and the reasons for the change:N/A
46. Treasury Shares
Unit: RMB
Item Beginning balance Increase Decrease Ending balance
Repurchase of public
1216490683.0082375331.001216490683.0082375331.00
shares
Total 1216490683.00 82375331.00 1216490683.00 82375331.00
Other notes including a description of the increase or decrease for the current period and the reasons for the change:N/A
171BOE Technology Group Co. Ltd. Interim Report 2025
47. Other Comprehensive Income
Unit: RMB
Reporting Period
Less: Recorded Less: Recorded in
in other other
comprehensive comprehensive
Attributable to
Item Beginning balance Income before income in prior income in prior Attributable toLess: Income owners of the Ending balance
taxation in the period and period and non-controlling
tax expense Company as the
Current Period transferred to transferred to interests after tax
parent after tax
profit or loss in retained earnings
the Current in the Current
Period Period
I. Other comprehensive
income that may not
-372167398.0061859399.000.000.00453661.0050810816.0010594922.00-321356582.00
subsequently be reclassified
to profit or loss
Of which: Changes caused
by re-measurements on
0.000.000.000.000.000.000.000.00
defined benefit pension
schemes
Other comprehensive
income that will not be
-136978893.00-5767769.000.000.000.00-5767769.000.00-142746662.00
reclassified to profit or loss
under equity method
Changes in fair value
of other investments in -235188505.00 67627168.00 0.00 0.00 453661.00 56578585.00 10594922.00 -178609920.00
equity instruments
Changes in fair value
0.000.000.000.000.000.000.000.00
of enterprise credit risk
II. Other comprehensive
income that may be -799656466.00 277148923.00 0.00 0.00 0.00 287802041.00 -10653118.00 -511854425.00
reclassified to profit or loss
Of which: Other -118842.00 29792726.00 0.00 0.00 0.00 29792726.00 0.00 29673884.00
comprehensive income that
172BOE Technology Group Co. Ltd. Interim Report 2025
will be reclassified to profit
or loss under equity method
Changes in fair value
of investment in other debt 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
obligations
Amount of financial
assets reclassified to other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
comprehensive income
Provision for credit
impairment of investment in 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
other debt obligations
Reserve for cash flow
0.000.000.000.000.000.000.000.00
hedges
Translation differences
arising from translation of
-799537624.00247356197.000.000.000.00258009315.00-10653118.00-541528309.00
foreign currency financial
statements
Total of other
-1171823864.00339008322.000.000.00453661.00338612857.00-58196.00-833211007.00
comprehensive income
Other notes including the note to the adjustment of the initial recognition amount of hedged item transferred from the effective gain/loss on cash flow hedges:
N/A
173BOE Technology Group Co. Ltd. Interim Report 2025
48. Specific Reserve
Unit: RMB
Item Beginning balance Increase Decrease Ending balance
Production safety
139227664.00110826747.0058546176.00191508235.00
reserve
Total 139227664.00 110826747.00 58546176.00 191508235.00
Other notes including a description of the increase or decrease for the current period and the reasons for the change:
N/A
49. Surplus Reserves
Unit: RMB
Item Beginning balance Increase Decrease Ending balance
Statutory surplus
3590083170.000.000.003590083170.00
reserve
Discretionary surplus
289671309.000.000.00289671309.00
reserve
Reserve fund 0.00 0.00 0.00 0.00
Enterprise expansion
0.000.000.000.00
fund
Others 0.00 0.00 0.00 0.00
Total 3879754479.00 0.00 0.00 3879754479.00
Notes to surplus reserves including the note to increase and decrease in the Reporting Period and the reason for changes:
N/A
50. Retained Profits
Unit: RMB
Item Reporting Period Same period of last year
Beginning balance of retained earnings
39410894857.0035579576607.00
before adjustments
Total retained earnings at the beginning
of adjustments (“+” for increase “-” for 0.00 0.00
decrease)
Beginning balance of retained profits
39410894857.0035579576607.00
after adjustments
Add: Net profit attributable to owners of
3246885779.005323248974.00
the Company as the parent
Less: Appropriation for statutory surplus
0.00307923188.00
reserve
Withdrawal of discretional surplus
0.000.00
reserves
Withdrawal of general reserve 0.00 0.00
Dividend of ordinary shares 1870694023.00 1129073743.00
174BOE Technology Group Co. Ltd. Interim Report 2025
Dividend of common stock
0.000.00
transferred into share capital
Interest on holders of other equity
15917809.0070000000.00
instruments
Transfer of other comprehensive income
0.00-15066207.00
to retained earnings
Ending retained earnings 40771168804.00 39410894857.00
List of adjustment of beginning retained profits:
(1) RMB0.00 beginning retained profits was affected by retrospective adjustment conducted according to the Accounting
Standards for Business Enterprises and relevant new regulations.
(2) RMB0.00 beginning retained profits was affected by changes in accounting policies.
(3) RMB0.00 beginning retained profits was affected by correction of significant accounting errors.
(4) RMB0.00 beginning retained profits was affected by changes in combination scope arising from same control.
(5) RMB0.00 beginning retained profits was affected totally by other adjustments.
51. Operating Revenue and Cost of Sales
Unit: RMB
Reporting Period Same period of last year
Item
Income Cost Income Cost
Principal activities 98566610434.00 84406147477.00 90649519240.00 77246882206.00
Other operating
2711571701.002281280958.002736722392.002178627937.00
activities
Total 101278182135.00 86687428435.00 93386241632.00 79425510143.00
Breakdown information of operating revenue and cost of sales:
Unit: RMB
Operating revenue by region Reporting Period Same period of last year
Mainland China 49719622119.00 49668918111.00
Other regions 51558560016.00 43717323521.00
Total 101278182135.00 93386241632.00
Information related to performance obligations:
Funds Type of quality
Nature of goods
Timing of Whether or not undertaken by assurance
that the
fulfillment of Important the person the Company provided by the
Item Company is
performance payment terms primarily expected to be Company and
committed to
obligations responsible returned to related
transfer
customers obligations
N/A
Other notes
N/A
Information related to transaction value assigned to residual performance obligations:
The amount of revenue corresponding to performance obligations of contracts signed but not performed or not fully performed yet
was RMB0.00 at the end of the Reporting Period among which RMB0.00 was expected to be recognized in zero year RMB0.00
in zero year and RMB0.00 in zero year.
175BOE Technology Group Co. Ltd. Interim Report 2025
Information related to variable consideration in contracts:
N/A
Significant contract changes or significant transaction price adjustments
Unit: RMB
Item Accounting treatment Amount of impact on revenue
N/A
Other notes
N/A
52. Taxes and Surtaxes
Unit: RMB
Item Reporting Period Same period of last year
Consumption tax 0.00 0.00
City maintenance and construction tax 137032939.00 94630201.00
Education surcharge 97993057.00 67737591.00
Resources tax 0.00 0.00
Property tax 346591037.00 321248752.00
Land use tax 36518885.00 36538354.00
Vehicle and vessel use tax 0.00 0.00
Stamp duty 97970516.00 86750751.00
Others 11541016.00 10743858.00
Total 727647450.00 617649507.00
Other notes:
N/A
53. Administrative Expense
Unit: RMB
Item Reporting Period Same period of last year
Staff cost 1504065336.00 1528175861.00
Maintenance fee 39931049.00 14403662.00
Depreciation and amortization 556887073.00 537801975.00
Share payments 34161966.00 28994177.00
Others 710131325.00 724230296.00
Total 2845176749.00 2833605971.00
Other notes
N/A
176BOE Technology Group Co. Ltd. Interim Report 2025
54. Selling Expense
Unit: RMB
Item Reporting Period Same period of last year
Warranty provisions 0.00 0.00
Staff costs 540186474.00 553449231.00
Share payments 132564.00 12271105.00
Others 361680760.00 348194287.00
Total 901999798.00 913914623.00
Other notes:
N/A
55. Development Cost
Unit: RMB
Item Reporting Period Same period of last year
Staff costs and daily expenses 2620745727.00 2451403241.00
Material and test expenses 1450206493.00 1424966607.00
Depreciation and amortization 1104896752.00 1150148213.00
Others 870422421.00 779758680.00
Total 6046271393.00 5806276741.00
Other notes
N/A
56. Finance Cost
Unit: RMB
Item Reporting Period Same period of last year
Interest costs 1681257729.00 1951473824.00
Interest income -968531572.00 -1145670653.00
Net loss on exchange -16248447.00 -521368401.00
Others 16975786.00 11007563.00
Total 713453496.00 295442333.00
Other notes
N/A
57. Other Income
Unit: RMB
Sources Reporting Period Same period of last year
Government grants related to assets 442970202.00 291749132.00
Government grants related to income 696884877.00 475304628.00
Others 290431138.00 310217840.00
Total 1430286217.00 1077271600.00
177BOE Technology Group Co. Ltd. Interim Report 2025
58. Gains from Changes in Fair Value
Unit: RMB
Sources Reporting Period Same period of last year
Financial assets held for trading 70061558.00 -50062137.00
Of which: Gains from changes in
fair value of derivative financial 0.00 0.00
instruments
Trading financial liabilities 0.00 0.00
Investment property measured by fair
0.000.00
value
Total 70061558.00 -50062137.00
Other notes:
N/A
59. Investment Income
Unit: RMB
Item Reporting Period Same period of last year
Income from long-term equity
investments accounted for using equity -83513032.00 -343013126.00
method
Investment income from disposal of
485099798.0027843519.00
long-term equity investments
Investment income arising from holding
11147253.0076368341.00
of trading financial assets
Investment income from disposal of
18492966.0016448266.00
financial assets held for trading
Dividend income received from holding
6683666.0011008149.00
of other equity instrument investment
Gain from re-measurement of remaining
equity interests to fair value upon the 0.00 0.00
loss of control
Interest income of investment in debt
0.000.00
obligations during holding period
Interest income of investment in other
0.000.00
debt obligations during holding period
Investment income from disposal of
0.000.00
investment in other debt obligations
Gains from debt restructuring 0.00 0.00
Others -1290725.00 -617725.00
Total 436619926.00 -211962576.00
Other notes
N/A
178BOE Technology Group Co. Ltd. Interim Report 2025
60. Credit Impairment Loss
Unit: RMB
Item Reporting Period Same period of last year
Bad debt loss on notes receivable 7916.00 -2042.00
Bad debt loss on accounts receivable -67584489.00 -25960166.00
Bad debt loss of other receivables -1543420.00 2182253.00
Impairment loss of investment in debt
0.000.00
obligations
Impairment loss of investment in other
0.000.00
debt obligations
Bad debt loss of long-term receivables 0.00 0.00
Impairment losses related to financial
0.000.00
guarantees
Total -69119993.00 -23779955.00
Other notes
N/A
61. Asset Impairment Loss
Unit: RMB
Item Reporting Period Same period of last year
I. Loss on inventory valuation and
-1158663138.00-2070127168.00
contract performance cost
II. Impairment loss on long-term equity
0.000.00
investment
III. Impairment loss on investment
0.000.00
property
IV. Fixed assets impairment losses -651107.00 -15946424.00
V. Depreciation losses on engineering
0.000.00
materials
VI. Impairment losses on construction in
0.000.00
progress
VII. Impairment losses on productive
0.000.00
living assets
VIII. Impairment losses of oil & gas
0.000.00
assets
IX. Impairment losses on intangible
0.000.00
assets
X. Goodwill impairment losses 0.00 0.00
XI. Impairment losses of contract assets -1524760.00 -781418.00
XII. Others 0.00 0.00
Total -1160839005.00 -2086855010.00
Other notes:
N/A
179BOE Technology Group Co. Ltd. Interim Report 2025
62. Assets Disposal Income
Unit: RMB
Sources Reporting Period Same period of last year
(Loss) on/gains from disposal of fixed
36206840.008670980.00
assets
Gains from disposal of right-of-use
169356.00-21299.00
assets
Loss on disposal of construction in
0.00-1036400.00
progress
Total 36376196.00 7613281.00
63. Non-operating Income
Unit: RMB
Amount recorded in the
Item Reporting Period Same period of last year current non-recurring profit or
loss
Income from non-monetary
0.000.000.00
assets exchange
Donation accepted 0.00 0.00 0.00
Government grants 58255.00 511047.00 58255.00
Others 137107970.00 119045192.00 137107970.00
Total 137166225.00 119556239.00 137166225.00
Other notes:
N/A
64. Non-operating Expense
Unit: RMB
Amount recorded in the
Item Reporting Period Same period of last year current non-recurring profit or
loss
Non-monetary asset exchange
0.000.000.00
losses
Donations provided 1600039.00 22447566.00 1600039.00
Loss on scrap of non-current
5599880.003615533.005599880.00
assets
Others 8770013.00 20826903.00 8770013.00
Total 15969932.00 46890002.00 15969932.00
Other notes:
N/A
180BOE Technology Group Co. Ltd. Interim Report 2025
65. Income Tax Expense
(1) List of Income Tax Expense
Unit: RMB
Item Reporting Period Same period of last year
Current income tax expense 998229584.00 892497728.00
Deferred income tax expense 193490483.00 -384429635.00
Total 1191720067.00 508068093.00
(2) Adjustment Process of Accounting Profit and Income Tax Expense
Unit: RMB
Item Reporting Period
Profit before taxation 4220786006.00
Current income tax expense accounted at statutory/applicable
633117901.00
tax rate
Influence of applying different tax rates by subsidiaries 24516188.00
Influence of income tax before adjustment 0.00
Influence of non-taxable income 0.00
Influence of non-deductable costs expenses and losses 3700647.00
Influence of deductible loss of unrecognized deferred income
-444322094.00
tax assets in prior period
Influence of deductible temporary difference or deductible loss
of unrecognized deferred income tax assets in the Reporting 995743756.00
Period
Others -21036331.00
Income tax expenses 1191720067.00
Other notes
N/A
66. Other Comprehensive Income
Refer to Note 47 for details.
67. Cash Flow Statement
(1) Cash Related to Operating Activities
Cash generated from other operating activities
Unit: RMB
Item Reporting Period Same period of last year
Government grants 3694269499.00 1132792206.00
Restricted deposits and others 1304471738.00 807690998.00
Total 4998741237.00 1940483204.00
181BOE Technology Group Co. Ltd. Interim Report 2025
Notes to cash received related to other operating activities:
N/A
Cash used in other operating activities
Unit: RMB
Item Reporting Period Same period of last year
Expenses paid during the period 2376570813.00 3610114439.00
Total 2376570813.00 3610114439.00
Notes to other cash paid relating to operating activities:
N/A
(2) Cash Related to Investing Activities
Cash generated from other investing activities
Unit: RMB
Item Reporting Period Same period of last year
Investment-based margins and others
173625393.001250747245.00
received
Total 173625393.00 1250747245.00
Significant cash received related to investing activities
Unit: RMB
Item Reporting Period Same period of last year
N/A
Notes to other cash paid relating to operating activities:
N/A
Cash used in other investing activities
Unit: RMB
Item Reporting Period Same period of last year
Investment-based margins and others
125822201.0040770633.00
returned
Total 125822201.00 40770633.00
Significant cash paid related to investing activities
Unit: RMB
Item Reporting Period Same period of last year
N/A
Notes to other cash paid related to investment activities:
N/A
(3) Cash Related to Financing Activities
Cash generated from other financing activities
182BOE Technology Group Co. Ltd. Interim Report 2025
Unit: RMB
Item Reporting Period Same period of last year
Recovery of restricted deposits in
123902639.000.00
financial institutions
Total 123902639.00 0.00
Notes to other cash paid related to financing activities:
N/A
Cash used in other financing activities
Unit: RMB
Item Reporting Period Same period of last year
Refund of external capital reduction 5114086500.00 0.00
Repayment of perpetual bonds and others 2478777627.00 468531114.00
Total 7592864127.00 468531114.00
Notes to other cash paid related to financing activities:
N/A
Changes in liabilities arising from financing activities
□Applicable □ Not applicable
Unit: RMB
Increase Decrease
Item Beginning balance Ending balance
Cash Non-cash Cash Non-cash
Short-term
1563317166.002120160347.0021738604.001872593424.000.001832622693.00
borrowings
Long-term
borrowings
(including
non-current 143824457674.00 22072995496.00 2358875129.00 36941721095.00 0.00 131314607204.00
liabilities due
within one
year)
Lease
liabilities
(including
non-current 778479954.00 0.00 312059448.00 358560607.00 0.00 731978795.00
liabilities due
within one
year)
Bonds
payable
(including
non-current 0.00 6000000000.00 13667472.00 19303774.00 0.00 5994363698.00
liabilities due
within one
year)
Long-term
144022447.000.0018301612.0028219782.000.00134104277.00
payables
183BOE Technology Group Co. Ltd. Interim Report 2025
(including
non-current
liabilities due
within one
year)
Other non-
current
liabilities
(including
3093290892.000.001391984129.00204826224.000.004280448797.00
non-current
liabilities due
within one
year)
Total 149403568133.00 30193155843.00 4116626394.00 39425224906.00 0.00 144288125464.00
(4) Explanation for Presentation of Cash Flows on a Net Basis
Relevant facts and Basis for presentation on a net
Item Financial impact
circumstances basis
Cash inflows and outflows for
Amounts of restricted
fast-turnover high-value
Restricted monetary funds deposits placed and recovered N/A
short-term items can be
are presented on a net basis.presented on a net basis.
(5) Significant Activities and Financial Impact that Do Not Involve Current Cash Receipts and
Disbursements but Affect the Company’s Financial Position or May Affect the Company’s Cash Flows in
the Future
N/A
68. Supplemental Information for Cash Flow Statement
(1) Supplemental Information for Cash Flow Statement
Unit: RMB
Supplemental information Reporting Period Same period of last year
1. Reconciliation of net profit to net cash generated from/used
in operating activities:
Net profit 3029065939.00 1770665661.00
Add: Provision for impairment of assets 1229958998.00 2110634949.00
Depreciation of fixed assets oil-gas assets and
18736695135.0018031290668.00
productive living assets
Depreciation of right-of-use assets 104706637.00 92149998.00
Amortization of intangible assets 502597973.00 508530765.00
Amortization of long-term deferred expenses 80344577.00 93785395.00
Losses on disposal of fixed assets intangible assets and
-36376196.00-7613281.00
other long-lived assets (gains: negative)
Losses on scrap of fixed assets (gains: negative) 1562825.00 -2664750.00
Losses from variation of fair value (gains: negative) -70061558.00 50062137.00
184BOE Technology Group Co. Ltd. Interim Report 2025
Finance costs (gains: negative) 993019093.00 713483231.00
Investment loss (gains: negative) -437910652.00 211344851.00
Decrease in deferred income tax assets (gains: negative) -34875695.00 -146791012.00
Increase in deferred income tax liabilities (“-” means
-36730617.00-197154806.00
decrease)
Decrease in inventory (gains: negative) -5203792013.00 -3286494678.00
Decrease in accounts receivable generated from
19176274.006198588348.00
operating activities (gains: negative)
Increase in accounts payable used in operating activities
1550966960.00-1326611727.00
(decrease: negative)
Others 2307959406.00 65763543.00
Net cash inflow from operating activities 22736307086.00 24878969292.00
2. Significant investing and financing activities without
involvement of cash receipts and payments:
Transfer of debts to capital 0.00 0.00
Convertible corporate bonds due within one year 0.00 0.00
Fixed assets leased in through financing 0.00 0.00
3. Net increase/decrease of cash and cash equivalent:
Ending balance of cash 49809353266.00 57956802361.00
Less: Beginning balance of cash 62005252511.00 52092981748.00
Add: Ending balance of cash equivalents 0.00 0.00
Less: Beginning balance of cash equivalents 0.00 0.00
Net increase in cash and cash equivalents -12195899245.00 5863820613.00
(2) Net Cash Paid ForAcquisition of Subsidiaries
Unit: RMB
Item Amount
Cash or cash equivalents paid in the Reporting Period for
0.00
business combination occurring in the Reporting Period
Of which:
Less: Cash and cash equivalents held by subsidiaries on the
0.00
date of purchase date
Of which:
Add: Cash or cash equivalents paid in the Reporting Period for
0.00
business combination occurring in the prior period
Of which:
Net payments for acquisition of subsidiaries 0.00
Other notes:
N/A
(3) Net Cash Received from Disposal of the Subsidiaries
Unit: RMB
185BOE Technology Group Co. Ltd. Interim Report 2025
Item Amount
Cash or cash equivalents received in the Reporting Period from
0.00
disposal of subsidiaries in the Current Period
Of which:
Less: Cash and cash equivalents held by subsidiaries on the
0.00
date of losing control power
Of which:
Add: Cash or cash equivalents received in the Reporting Period
0.00
from disposal of subsidiaries in the prior period
Of which:
Net cash received from disposal of subsidiaries 0.00
Other notes:
N/A
(4) Cash and Cash Equivalents
Unit: RMB
Item Ending balance Beginning balance
I. Cash 49809353266.00 62005252511.00
Including: Cash on hand 1510828.00 1528764.00
Bank deposits available on
49478529233.0061918283198.00
demand
Other monetary funds available
329313205.0085440549.00
on demand
Accounts deposited in the central
0.000.00
bank available for payment
Deposits in other banks 0.00 0.00
Accounts of interbank 0.00 0.00
II. Cash equivalents 0.00 0.00
Of which: Bond investment expired
0.000.00
within three months
III. Ending balance of cash and cash
49809353266.0062005252511.00
equivalents
(5) Presentation of Cash and Cash Equivalents that Are Subject to Certain Restrictions on Their Usage
Unit: RMB
Reason for classifying the
Item Reporting Period Same period of last year item as cash and cash
equivalents
N/A
(6) Monetary Funds Other than Cash and Cash Equivalents
Unit: RMB
Item Reporting Period Same period of last year Reason for not classifying the
186BOE Technology Group Co. Ltd. Interim Report 2025
item as cash and cash
equivalents
Bank deposits with interest at Holding for investment
14615982260.0021871692143.00
fixed rates purposes
Mainly refer to margin
Margin deposits 1266717604.00 1462511849.00 deposits pledged for the
issuance of bills payable
Total 15882699864.00 23334203992.00
Other notes:
N/A
(7) Notes on Other Significant Activities
N/A
69. Notes to Items of the Statements of Changes in Owners’ Equity
Notes to names under the item of “Other” in the adjusted ending balance for the same period of last year and the corresponding
amount:
N/A
70. Foreign Currency Monetary Items
(1) Foreign Currency Monetary Items
Unit: RMB
Ending foreign currency Ending balance converted to
Item Exchange rate
balance RMB
Cash at bank 22519484303.00
Including: USD 2892604521.00 7.1586 20706998722.00
EUR 210643139.00 8.4024 1769907913.00
HKD 46688599.00 0.9120 42577668.00
Accounts receivable 19445122686.00
Including: USD 2635312422.00 7.1586 18865147505.00
EUR 1003039.00 8.4024 8427932.00
HKD 488218917.00 0.9120 445255652.00
Long-term loans 3909168288.00
Including: USD 546080000.00 7.1586 3909168288.00
EUR 0.00 8.4024 0.00
HKD 0.00 0.9120 0.00
Other notes:
N/A
187BOE Technology Group Co. Ltd. Interim Report 2025
(2) Notes to Overseas Entities Including: for Significant Overseas Entities Main Operating Place
Recording Currency and Selection Basis Shall Be Disclosed; if there Are Changes in Recording Currency
Relevant Reasons Shall Be Disclosed.□Applicable □Not applicable
71. Leases
(1) The Company Served as the Lessee:
□Applicable □Not applicable
(2) The Company Served as the Lessor:
Operating leases with the Company as lessor
□Applicable □ Not applicable
Unit: RMB
Of which: income related to variable
Item Lease income lease payments not included in lease
receipts
Operating lease 377925689.00 27285576.00
Total 377925689.00 27285576.00
Finance leases with the Company as lessor
□Applicable □Not applicable
Undiscounted lease receipts for each of the next five years
□Applicable □Not applicable
Reconciliation of undiscounted lease receipts to net investment in leases
N/A
(3) Recognition of Gain or Loss on Sales under Finance Leases with the Company as a Manufacturer or
Distributor
□Applicable □Not applicable
VIII. Research and Development Expenses
Unit: RMB
Item Reporting Period Same period of last year
Staff costs and daily expenses 2470437442.00 2466429918.00
Material and test expenses 1436004813.00 1437344238.00
Depreciation and amortization 1156884426.00 1155582296.00
Others 1022325211.00 783234089.00
Total 6085651892.00 5842590541.00
Including: research and development
6046271393.005806276741.00
expenditures that are expensed
Research and development
39380499.0036313800.00
expenditures that are capitalized
188BOE Technology Group Co. Ltd. Interim Report 2025
1. Research and Development Projects Which are Eligible for Capitalization
Unit: RMB
Increased amount Decrease
Transfer
Beginning red into
Item Internal Recognized as the Ending balancebalance development Others
intangible assets current
expenditure
profit or
loss
HC Semitek
Corporation LED and
Micro-LED 109323354.00 39380499.00 0.00 77289944.00 0.00 71413909.00
technology
development
Total 109323354.00 39380499.00 0.00 77289944.00 0.00 71413909.00
Significant capitalized R&D projects
Expected manner Time of Specific basis for
Estimated
Item R&D progress of generation of commencement of commencement of
completion date
economic benefits capitalization capitalization
N/A
Provision for impairment of development expenditure
Unit: RMB
Item Beginning balance Increase Decrease Ending balance Impairment testing
N/A
2. Significant Outsourced Research and Development Projects in Progress
Expected manner of generation of Judgment criteria and specific basis for
Project name
economic benefits capitalization or expensing
N/A
Other notes:
N/A
IX. Change of Consolidation Scope
1. Business Combination Involving Entities not Under Common Control
(1) Business Combinations Involving Entities Not Under Common Control Occurred During the Reporting Period
Unit: RMB
Basis for The The The
Name of Date of Cost of Proportion Method of determinin acquiree’s acquiree’s acquiree’s
Acquisitio
the equity equity of equities equity g the revenue net profit cash flows
n date
acquiree acquisition acquisition acquired acquisition acquisition from the from the from the
date acquisition acquisition acquisition
date to the date to the date to the
189BOE Technology Group Co. Ltd. Interim Report 2025
period-end period-end period-end
N/A
Other notes:
N/A
(2) Acquisition Cost and Goodwill
Unit: RMB
Acquisition cost
--Cash 0.00
--Fair value of non-cash assets 0.00
--Fair value of issued or assumed debts 0.00
--Fair value of issued equity securities 0.00
--Fair value of the contingent consideration 0.00
--Fair value of equity interests held before the acquisition date
0.00
on the acquisition date
--Others 0.00
Total acquisition cost 0.00
Less: Share of the fair value of the identifiable net assets
0.00
acquired
Amount of goodwill/acquisition cost less than share of the fair
0.00
value of the identifiable net assets acquired
Notes to the method for determining the fair value of the acquisition cost:
N/A
Contingent consideration and its changes:
N/A
Main reasons for the formation of large-amount goodwill:
N/A
Other notes:
N/A
(3) Identifiable Assets and Liabilities of the Acquiree on the Acquisition Date
Unit: RMB
Item
Fair value on the acquisition date Carrying value on the acquisition date
Assets: 0.00 0.00
Cash at bank 0.00 0.00
Receivables 0.00 0.00
190BOE Technology Group Co. Ltd. Interim Report 2025
Inventories 0.00 0.00
Fixed assets 0.00 0.00
Intangible assets 0.00 0.00
Liabilities: 0.00 0.00
Loans 0.00 0.00
Payables 0.00 0.00
Deferred tax liabilities 0.00 0.00
Net assets 0.00 0.00
Less: Non-controlling interests 0.00 0.00
Net assets acquired 0.00 0.00
Method for determining the fair value of identifiable assets and assets:
N/A
Contingent liabilities of the acquiree assumed in the business combination:
N/A
Other notes: N/A
(4) Gain or Loss from Remeasurement of Equity Interests Held before the Acquisition Date at Fair Value
Whether there were several transactions to realize business combinations and acquire controls during the Reporting Period
□Yes □No
(5) Notes to Failure to Reasonably Determine the Combination Consideration or the Fair Value of Identifiable Assets and
Liabilities of the Acquiree on the Acquisition Date or at the End of the Current Period
N/A
(6) Other Notes
N/A
2. Business Combinations Involving Entities Under Common Control
(1) Business Combination under the Same Control during the Current Period
Unit: RMB
Basis for the The The
The The
Proportion judgment combined combined
Basis for combined combined
of equity about the party’s party’s net
Name of the determining revenue profit from party’s party’s netinterests business Combinatio
combined the revenue profit during
acquired in combination n date from the the
party combination
the business under beginning of beginning of
during the the
date the current the current comparison comparisoncombination common
period period
control period in period in
which the which the
191BOE Technology Group Co. Ltd. Interim Report 2025
combination combination
occurred to occurred to
the the
combination combination
date date
N/A
Other notes:
N/A
(2) Acquisition Cost
Unit: RMB
Acquisition cost
--Cash 0.00
--Carrying value of non-cash assets 0.00
--Carrying value of issued or assumed debts 0.00
--Carrying value of issued equity securities 0.00
--Contingent consideration 0.00
Notes to contingent consideration and its changes:
N/A
Other notes: N/A
(3) The Carrying Value of Assets and Liabilities of the Combined Party on the Combination Date
Unit: RMB
Item
Combination date End of the previous period
Assets: 0.00 0.00
Cash at bank 0.00 0.00
Receivables 0.00 0.00
Inventories 0.00 0.00
Fixed assets 0.00 0.00
Intangible assets 0.00 0.00
Liabilities: 0.00 0.00
Loans 0.00 0.00
Payables 0.00 0.00
Net assets 0.00 0.00
Less: Non-controlling interests 0.00 0.00
Net assets acquired 0.00 0.00
Contingent liabilities of the combined party assumed in business combinations:
N/A
192BOE Technology Group Co. Ltd. Interim Report 2025
Other notes: N/A
3. Counter Purchase
Basic information of the transactions basis of the counter purchase basis and whether assets and liabilities retained by the listed
company constitute business determination of the combination cost the amount and calculation of the equity amount adjusted in
treatment for the equity transaction:
N/A
4. Disposal of Subsidiary
Whether there were any transactions or events during the period in which control of the subsidiary was lost
□Yes □No
Whether there are several disposals of the investment to the subsidiary and lost controls
□Yes □No
5. Changes in Combination Scope for Other Reasons
Note to changes in combination scope for other reasons (such as newly establishment or liquidation of subsidiaries etc.) and
relevant information:
The increase in combination scope in this year was due to newly corporation of subsidiaries and the decrease was due to canceling
of subsidiaries.
6. Others
N/A
193BOE Technology Group Co. Ltd. Interim Report 2025
X. Equity in Other Entities
1. Equity in Subsidiary
(1) Subsidiaries
Unit: RMB
Shareholding
Main operating
Name of the subsidiary Registered capital Registered place Business nature percentage
Acquisition
place method
Direct Indirect
Business
combinations
involving
Chengdu BOE Optoelectronics R&D design production and sales of new display devices
25000000000.00 Chengdu China Chengdu China 100.00% 0.00% entities not
Technology Co. Ltd. and modules and other electronic components
under
common
control
Business
combinations
Investment construction R&D production and sales of the involving
Hefei BOE Optoelectronics
2700000000.00 Hefei China Hefei China relevant products of Thin Film Transistor Liquid Crystal 100.00% 0.00% entities not
Technology Co. Ltd.Display (TFT-LCD) devices and its auxiliary products. under
common
control
Development of Thin Film Transistor Liquid Crystal
Beijing BOE Display Technology Co. Founded by
8941456800.00 Beijing China Beijing China Display (TFT-LCD) devices manufacturing and sale of 97.17% 2.83%
Ltd. (Beijing BOE Display) investment
Liquid Crystal Display (LCD)
Business
combinations
Investment construction R&D production and sales of the involving
Hefei Xinsheng Optoelectronics
9750000000.00 Hefei China Hefei China relevant products of Thin Film Transistor Liquid Crystal 99.97% 0.03% entities not
Technology Co. Ltd.Display (TFT-LCD) devices and its auxiliary products. under
common
control
Ordos Yuansheng Optoelectronics Co. Manufacture and sales of AM-OLED display device-related Founded by
11804000000.00 Ordos China Ordos China 100.00% 0.00%
Ltd. products and auxiliary products. investment
194BOE Technology Group Co. Ltd. Interim Report 2025
Business
combinations
R&D production and sales of semiconductor display involving
Chongqing BOE Optoelectronics Chongqing Chongqing
3845200000.00 devices entire machines and relevant products; import and 100.00% 0.00% entities not
Technology Co. Ltd. China China
export of goods and technical consultancy under
common
control
Investment building R&D production and sales of
products related to Thin Film Transistor Liquid Crystal
Display (TFT-LCD) devices and their supporting products Business
(business premises are separately established); proprietary combinations
and agency import and export of commodities and involving
Fuzhou BOE Optoelectronics
17600000000.00 Fuzhou China Fuzhou China technologies (excluding commodities and technologies that 87.22% 0.00% entities not
Technology Co. Ltd.are restricted or prohibited by the government); business under
management consultancy and services; house leasing; common
leasing of machinery equipment; technological control
development transfer consultancy and services of display
devices-related products.Beijing BOE Vision Electronic An investment platform that sells Liquid Crystal Display Founded by
5636475800.00 Beijing China Beijing China 100.00% 0.00%
Technology Co. Ltd. (LCD) investment
Beijing BOE Vacuum Electrical Co. Mainly engaged in the production and sales of vacuum Founded by
33250000.00 Beijing China Beijing China 57.89% 0.00%
Ltd electrical products investment
Engineering project management; property management
Founded by
Beijing Yinghe Century Co. Ltd. 233105200.00 Beijing China Beijing China services; rental of commercial properties; rental of offices; 100.00% 0.00%
investment
enterprise management consultancy
BOE Optical Science and Technology R&D production and sales of LCD back light for display Founded by
826714059.00 Suzhou China Suzhou China 95.17% 0.00%
Co. Ltd. and related components. investment
BOE Hyundai LCD (Beijing) Display Development manufacture and sale of liquid display for Founded by
35634000.00 Beijing China Beijing China 75.00% 0.00%
Technology Co. Ltd. mobile termination. investment
BOE (Hebei) MOBILE Display Manufacture and sale of mobile flat screen display technical Founded by
1358160140.00 Langfang China Langfang China 100.00% 0.00%
Technology Co. Ltd. products and related services. investment
Provide comprehensive zero carbon comprehensive energy
Beijing BOE Energy Technology Co. services covering multiple dimensions such as Founded by
1242690058.00 Beijing China Beijing China 68.40% 0.00%
Ltd. comprehensive energy services comprehensive energy investment
utilization and zero carbon services
Beijing BOE Life Technology Co. Technology promotion services property management sales Founded by
24000000.00 Beijing China Beijing China 100.00% 0.00%
Ltd. of electronic products investment
Beijing Zhongxiangying Technology 109767000.00 Beijing China Beijing China Technology promotion services property management sales 70.09% 0.00% Founded by
195BOE Technology Group Co. Ltd. Interim Report 2025
Co. Ltd. of electronic products investment
Founded by
BOE Semi-conductor Co. Ltd. 11250000.00 Beijing China Beijing China Glass thinning and metal part processing 84.00% 0.00%
investment
BOE Optoelectronics Holding Co. Hong Kong British Virgin Founded by
7126800000.00 Investment holding 100.00% 0.00%
Ltd. China Islands investment
Founded by
BOE (Korea) Co.Ltd. 494000.00 South Korea South Korea Wholesale and retail trade 100.00% 0.00%
investment
Business
combinations
involving
BOE Health Investment Management
18300000000.00 Beijing China Beijing China Investment management and project investment 100.00% 0.00% entities not
Co. Ltd.under
common
control
Business
combinations
involving
Beijing BOE Matsushita Color CRT Property management parking services commercial
325754049.00 Beijing China Beijing China 88.80% 0.00% entities not
Co. Ltd. property rental etc.under
common
control
Business
combinations
Investment R & D and production of products related to involving
Hefei BOE Display Technology Co.
24000000000.00 Hefei China Hefei China Thin Film Transistor Liquid Crystal Display (TFT-LCD) 36.67% 0.00% entities not
Ltd. (Hefei BOE Display)
devices and the supporting facility under
common
control
Beijing BOE Technology Founded by
38000000.00 Beijing China Beijing China Development transfer consulting and service of technology 100.00% 0.00%
Development Co. Ltd. investment
Investment construction R&D production and sales of
Hefei BOE Zhuoyin Technology Co. Founded by
800000000.00 Hefei China Hefei China products related to OLED display device and auxiliary 75.00% 0.00%
Ltd. investment
products
Development construction property management and
supporting service of industrial plants and supporting
Founded by
Beijing BOE Land Co. Ltd. 55420000.00 Beijing China Beijing China facilities; information consulting of real estate; lease of 70.00% 0.00%
investment
commercial facilities commercial attendants and the
supporting service facilities; motor vehicles public parking
196BOE Technology Group Co. Ltd. Interim Report 2025
service
Sales of communication equipment hardware & software of
computer and peripheral units electronic products
equipment maintenance; development transfer consulting
Founded by
Beijing BOE Marketing Co. Ltd. 50000000.00 Beijing China Beijing China and service providing of technologies; import & export of 100.00% 0.00%
investment
goods and technologies agency of import & export;
manufacturing consignment of electronic products and LCD
devices.Development spread transfer consultancy and service
providing of display technology; service providing of
computer software/hardware and network systems;
construction operation and management of e-commerce
platforms; providing service of conferences; undertaking of
Yunnan Chuangshijie Optoelectronics Founded by
3040000000.00 Kunming China Kunming China exhibitions; computer animation design; production R&D 79.10% 0.00%
Technology Co. Ltd. investment
and sales of OLED micro display devices and AR/VR
complete machine; storage services; project investment and
management of such projects; import and export of goods
and technologies; leasing of houses and machinery
equipment
Business
combinations
R&D production and sales of soft AMOLEDs that are involving
Mianyang BOE Optoelectronics Mianyang Mianyang
26000000000.00 mainly applied in smartphones wearable devices vehicle 83.46% 0.00% entities not
Technology Co. Ltd. China China
display systems and AR/VR. etc. under
common
control
Formation of X-ray sensors microfluidic chips biochemical
chips gene chips security sensors microwave antennas
Beijing BOE Sensor Technology Co. Founded by
5779482400.00 Beijing China Beijing China biosensors logistics network technology and other 100.00% 0.00%
Ltd. investment
semiconductor sensors technology testing technical
consulting technical services technology transfer
Business
Investment building R&D production sales and combinations
technological development transfer consultancy and involving
Wuhan BOE Optoelectronics
21000000000.00 Wuhan China Wuhan China services of Thin Film Transistor Liquid Crystal Display 58.36% 0.00% entities not
Technology Co. Ltd.(TFT-LCD) devices-related products and supporting under
products common
control
197BOE Technology Group Co. Ltd. Interim Report 2025
Business
combinations
R&D production and sales of semiconductor display involving
Chongqing BOE Display Technology Chongqing Chongqing
26000000000.00 device-related products and supporting products; import and 38.46% 0.00% entities not
Co. Ltd. China China
export of goods and technologies under
common
control
R&D production and sales of semiconductor display
device-related products and related products; import or Business
export of goods or technology; display device and combinations
component other electronic components and technology involving
Fuzhou BOE Display Technology Co.
50000000.00 Fuzhou China Fuzhou China development technology transfer technical consulting 43.46% 0.00% entities not
Ltd.related fields related to display devices and electronic under
products technical services; business management common
consulting; property management; house rental; machinery control
and equipment rental
R&D production and sales of Mini LED backlight
Hefei BOE Xingyu Technology Co. Founded by
822290184.00 Hefei China Hefei China components and Mini LED display modules and 65.00% 0.00%
Ltd. investment
components
Dongfang Chengqi (Beijing) Business Intelligent administrative service solutions integrating Founded by
10000000.00 Beijing China Beijing China 100.00% 0.00%
Technology Co. Ltd. property business travel procurement and consumption investment
Founded by
BOE Innovation Investment Co. Ltd. 6577000000.00 Beijing China Beijing China Project investment; investment management. 100.00% 0.00%
investment
Provision of hardware and software integrated system
solutions for the IoT market segment; smart city smart Founded by
BOE Smart Technology Co. Ltd. 6521250000.00 Beijing China Beijing China 100.00% 0.00%
transport smart finance smart parks and the display investment
terminal products such as the smart all-in-one machines
R&D manufacturing and sales of TFT-LCD panels color Business
filters and whole liquid crystal modules; provision of combinations
products and business-related services as well as other involving
Nanjing BOE Display Technology
17500000000.00 Nanjing China Nanjing China business activities associated with the foregoing; proprietary 80.83% 0.00% entities not
Co. Ltd.and agency import and export of various goods and under
technologies (excluding goods and technologies restricted common
by state or import & export prohibited) control
R&D production and sales of TFT-LCD panels and Business
Chengdu BOE Display Technology modules Liquid Crystal Display (LCD) televisions combinations
21550000000.00 Chengdu China Chengdu China 35.03% 0.00%
Co. Ltd. instruments machinery equipment and accessories as well involving
as provision of technical services; foreign trade in form of entities not
198BOE Technology Group Co. Ltd. Interim Report 2025
import and export of goods and technology under
common
control
Technology development technology consultancy
technology transfer and technology services; basic software
services; application software services; computer system
services; Internet data services (excluding data centers in
Internet data services and cloud computing data centre with
PUE over 1.4); information processing and storage support Founded by
BOE Jingxin Technology Co. Ltd. 250500000.00 Beijing China Beijing China 100.00% 0.00%
services; general contracting professional contracting and investment
labour subcontracting; equipment installation maintenance
and leasing; literary and artistic creation; computer
animation design; product design; enterprise management
consulting; sales of computers software and auxiliary
equipment as well as electronic products
General items: Technical services technology development
technology consulting technical exchange technology
Beijing BOE Solar Energy Founded by
600000000.00 Beijing China Beijing China transfer technology promotion; manufacture of photovoltaic 100.00% 0.00%
Technology Co. Ltd. investment
equipment and components; sales of photovoltaic equipment
and components
General items: Technological services development
consultancy exchanges transfer and promotion;
manufacturing of display devices [operated by a branch];
sales of display devices; manufacturing of electronic
Chengdu BOE Display Technology components [operated by a branch]; wholesale of electronic Founded by
38000000000.00 Chengdu China Chengdu China 52.63% 0.00%
Co. Ltd. components; manufacturing of other electronic devices investment
[operated by a branch]; import and export of goods; import
and export of technologies; business management
consultancy; property management; rental of non-residential
real estate; leasing of machinery equipment
Manufacturing of display devices; sales of display devices;
manufacturing of electronic components; wholesale of
electronic components; technological services development
Beijing BOE Chuangyuan Technology consultancy exchanges transfer and promotion; import and Founded by
14500000000.00 Beijing China Beijing China 79.31% 0.00%
Co. Ltd. export of goods; import and export of technologies; business investment
management consultancy; property management; leasing of
machinery equipment; manufacturing of other electronic
devices
199BOE Technology Group Co. Ltd. Interim Report 2025
General items: Manufacturing of display devices; sales of
display devices; manufacturing of electronic components;
technological services development consultancy
exchanges transfer and promotion; leasing of machinery
equipment; integration of intelligent control systems;
integration services of information systems; manufacturing
of industrial control computers and systems; loT
Mianyang BOE Electronics Mianyang Mianyang technological services; data processing services; sales of Founded by
2400000000.00100.00%0.00%
Technology Co. Ltd. China China electronic products; sales of digital and cultural creative investment
equipment; sales of semiconductor lighting devices;
integration services of artificial intelligence application
systems; cloud computing equipment and technological
services; industrial Internet data services; Internet data
services; manufacturing of semiconductor lighting devices;
sales of new energy original equipment; import and export
of technologies
General items: Technological services development
consultancy exchanges transfer and promotion;
manufacturing of computer hardware and software and
peripherals; wholesale of computer hardware and software
and auxiliary equipment; retail of computer hardware and
software and auxiliary equipment; manufacturing of
electronic components; manufacturing of optoelectronic
devices; manufacturing of display devices; manufacturing of
mobile terminal equipment; manufacturing of virtual reality
(V) equipment; TV manufacturing; manufacturing of IoT
Founded by
Beijing Shiyan Technology Co. Ltd. 209000000.00 Beijing China Beijing China equipment; sales of electronic products; sales of display 73.01% 0.00%
investment
devices; sales of mobile terminal equipment; sales of
communication equipment; sales of IoT equipment; leasing
of computers and communication equipment; manufacturing
of integrated circuits; design of integrated circuits; sales of
integrated circuits; manufacturing of chips and products of
integrated circuits; software sales; import and export of
goods; import and export of technologies; sales of Class I
medical devices; production of Class I medical devices;
leasing of Class I medical devices; sales of Class II medical
devices; leasing of Class II medical devices
BOE HC Semitek Co. Ltd. 1616698797.00 Wuhan China Wuhan China Design manufacturing sales and leasing of semiconductor 22.92% 0.00% Business
200BOE Technology Group Co. Ltd. Interim Report 2025
materials and devices electronic materials and devices combinations
semiconductor lighting equipment sapphire crystal growth involving
and sapphire deep processing products; research and entities not
development manufacturing and provision of technical under
services for integrated circuits and sensors; import and common
export of proprietary products and raw materials control
General items: R&D of new materials technology;
Beijing BOE Material Technology promotion services for new materials technology; sales of Founded by
500000000.00 Beijing China Beijing China 100.00% 0.00%
Co. Ltd. chemical products (excluding licensed chemical products); investment
sales of electronic specialty materials
Notes to holding proportion in subsidiary different from voting proportion:
As the Company has signed agreements of concerted action with other shareholders of Hefei Display Technology Wuhan BOE Chongqing BOE Display Fuzhou BOE Display Chengdu
Display Technology and HC SemiTek. The Company has 100% of the voting rights of Hefei Display Technology Wuhan BOE Chongqing BOE Display and Fuzhou BOE Display and
96.75% of the voting rights of Chengdu Display Technology. The voting right of HC SemiTek is 26.43%.
Basis for the control over the investees with half or less voting right and for not controlling the investees with over half voting right:
N/A
Basis for the control over the significant structured entities included in the scope of combination:
N/A
Basis for the determining the Company as the agent or the trustor:
N/A
Other notes:
N/A
201BOE Technology Group Co. Ltd. Interim Report 2025
(2) Significant Non-wholly-owned Subsidiary
Unit: RMB
Shareholding proportion of non- The profit or loss attributable to the Declaring dividends distributed to Ending balance of non-controlling
Name of the subsidiary
controlling interests non-controlling interests non-controlling interests interests
Subsidiary A 61.54% -770500119.00 0.00 12279643299.00
Notes that the shareholding percentage is different from the voting right percentage of non-controlling shareholders in subsidiaries:
N/A
Other notes:
N/A
(3) The Main Financial Information of Significant Not Wholly-owned Subsidiary
Unit: RMB
Ending balance Beginning balance
Name of the
subsidiary Current Non-current Current Non-current Total Current Non-current Current Non-current TotalTotal assets Total assets
assets assets liabilities liabilities liabilities assets assets liabilities liabilities liabilities
975619853603507545791274903848171679887125837352103837783706801147451789993227561631640926248685
Subsidiary A
96.00673.00269.0034.00021.00755.00491.00098.00589.0058.00587.00245.00
Unit: RMB
Reporting Period Same period of last year
Name of
the Total Total Cash flowsOperating Cash flows from operating Operating
subsidiary Net profit comprehensive Net profit comprehensive from operatingrevenue activities revenue
income income activities
Subsidiary - - - -
5834931507.001086362472.004560307235.00657943222.00
A 1252031393.00 1252031393.00 1125402981.00 1125402981.00
Other notes:
N/A
202BOE Technology Group Co. Ltd. Interim Report 2025
(4) Significant Limitation on the Use of Assets and Liquidation of Debts of the Company
N/A
(5) Financial Support or Other Support Provided for Structured Entities Included in the Scope of Consolidated Financial
Statements
N/A
Other notes:
N/A
2. Transactions That Cause Changes in the Group’s Interests in Subsidiaries That Do Not Result in Loss
of Control
(1) Explanations on Changes in Owner’s Equity of Subsidiary
The Company increased its capital contribution to Chengdu BOE Display Technology Co. Ltd. by RMB3299901000.00 in 2025
with minority shareholders collectively contributing RMB2565087400.00. The paid-in capital ratio at the end of the period was
52.63%.
The minority shareholders decreased its capital contribution to Wuhan BOE Optoelectronics Technology Co. Ltd. by
RMB5114086500.00 in 2025. The paid-in capital ratio at the end of the period was 58.36%.The minority shareholders increased its capital contribution to Beijing Shiyan Technology Co. Ltd. by RMB20670000.00 in
2025. The paid-in capital ratio at the end of the period was 73.01%.
The minority shareholders increased its capital contribution to Beijing Zhongxiangying Technology Co. Ltd. by
RMB300000000.00 in 2025. The paid-in capital ratio at the end of the period was 70.09%.
(2) The Effects of the Transaction on Non-controlling Interests and Equity Attributable to Owners of the Company as the
Parent
Unit: RMB
Chengdu BOE Wuhan BOE Beijing
Item Beijing ShiyanDisplay Technology Optoelectronics Zhongxiangying
Technology Co. Ltd.Co. Ltd. Technology Co. Ltd. Technology Co. Ltd.Purchase
cost/disposal 3299901000.00 0.00 0.00 0.00
consideration
-Cash 3299901000.00 0.00 0.00 0.00
-Fair value of non-
0.000.000.000.00
cash assets
Total of purchase
cost/disposal 3299901000.00 0.00 0.00 0.00
consideration
Less: Subsidiary net
assets proportion 3299333808.00 67188955.00 12721804.00 164805740.00
calculated by share
proportion
203BOE Technology Group Co. Ltd. Interim Report 2025
obtained/disposal
Difference 567192.00 -67188955.00 -12721804.00 -164805740.00
Of which: Adjustment
567192.00-67188955.00-12721804.00-164805740.00
of capital reserves
Surplus
0.000.000.000.00
reserves adjustments
Retained
0.000.000.000.00
profits adjustments
Other notes
N/A
3. Equity in Joint Ventures or Associated Enterprises
(1) Significant Joint Ventures or Associated Enterprises
Shareholding percentage Accounting
treatment
method for the
Main operating Registered
Name Business nature investment in
place place Direct Indirect joint ventures
or associated
enterprises
N/A
Explanations that the shareholding percentage is different from the voting right percentage in joint ventures or associated
enterprises:
N/A
Basis of the voting rights below 20% but with major influence or without major influence but with over 20% (included) voting
rights held:
N/A
(2) Main Financial Information of Significant Joint Ventures
Unit: RMB
Beginning balance/Same period of
Item Ending balance/Reporting Period last year
Current assets 0.00 0.00
Of which: Cash and cash equivalents 0.00 0.00
Non-current assets 0.00 0.00
Total assets 0.00 0.00
Current liabilities 0.00 0.00
Non-current liabilities 0.00 0.00
Total liabilities 0.00 0.00
Non-controlling interests 0.00 0.00
204BOE Technology Group Co. Ltd. Interim Report 2025
Equity attributable to shareholders of the Company as
0.000.00
the parent
Net assets shares calculated at the shareholding
0.000.00
proportion
Adjusted items 0.00 0.00
-- Goodwill 0.00 0.00
--Unrealized profit of intra-company transaction 0.00 0.00
--Others 0.00 0.00
Carrying value of equity investment to joint ventures 0.00 0.00
Fair values of equity investments of joint ventures
0.000.00
with quoted prices
Operating revenue 0.00 0.00
Financial expenses 0.00 0.00
Income tax expenses 0.00 0.00
Net profit 0.00 0.00
Net profit from discontinued operations 0.00 0.00
Other comprehensive income 0.00 0.00
Total comprehensive income 0.00 0.00
Dividends received from the joint venture in the
0.000.00
current period
Other notes
N/A
(3) Main Financial Information of Significant Associated Enterprises
Unit: RMB
Beginning balance/Same period of
Item Ending balance/Reporting Period last year
Current assets 0.00 0.00
Non-current assets 0.00 0.00
Total assets 0.00 0.00
Current liabilities 0.00 0.00
Non-current liabilities 0.00 0.00
Total liabilities 0.00 0.00
Non-controlling interests 0.00 0.00
Equity attributable to shareholders of the Company as
0.000.00
the parent
Net assets shares calculated at the shareholding
0.000.00
proportion
Adjusted items 0.00 0.00
-- Goodwill 0.00 0.00
--Unrealized profit of intra-company transaction 0.00 0.00
--Others 0.00 0.00
205BOE Technology Group Co. Ltd. Interim Report 2025
Carrying value of investment to associated enterprises 0.00 0.00
Fair value of equity investments in associated
0.000.00
enterprises with publicly quoted prices
Operating revenue 0.00 0.00
Net profit 0.00 0.00
Net profit from discontinued operations 0.00 0.00
Other comprehensive income 0.00 0.00
Total comprehensive income 0.00 0.00
Dividends received from the associates in the current
0.000.00
period
Other notes
N/A
(4) Summary Financial Information of Insignificant Joint Ventures or Associated Enterprises
Unit: RMB
Item Beginning balance/Same period of lastEnding balance/Reporting Period
year
Joint ventures:
Total carrying value of investment 381354715.00 404709071.00
The total of following items according to
the shareholding proportions
--Net profit -23354356.00 4112595.00
--Other comprehensive income 0.00 0.00
--Total comprehensive income -23354356.00 4112595.00
Associated enterprises:
Total carrying value of investment 12380312257.00 13128562231.00
The total of following items according to
the shareholding proportions
--Net profit -26794477.00 -363733282.00
--Other comprehensive income 30967229.00 -30842704.00
--Total comprehensive income 4172752.00 -394575986.00
Other notes
N/A
(5) Note to the Significant Restrictions on the Ability of Joint Ventures or Associated Enterprises to
Transfer Funds to the Company
N/A
(6) The Excess Loss of Joint Ventures or Associated Enterprises
Unit: RMB
206BOE Technology Group Co. Ltd. Interim Report 2025
The cumulative recognized The derecognized losses (or The accumulative
Name losses in previous the share of net profit) in unrecognized losses in
cumulatively derecognized Reporting Period Reporting Period
Hefei Xin Jing Yuan
11456900.00-5679492.005777408.00
Electronic Materials Co. Ltd.Beijing BOE Microbial
0.0047064.0047064.00
Technology Co. Ltd.Other notes
N/A
(7) The Unrecognized Commitment Related to Investment to Joint Ventures
N/A
(8) Contingent Liabilities Related to Investment to Joint Ventures or Associated Enterprises
N/A
4. Significant Common Operation
Main operating Proportion/Share portion
Name Registered place Business nature
place Direct Indirect
N/A
Notes to holding proportion or share portion in common operation different from voting proportion:
N/A
For common operation as a single entity basis of classifying as common operation:
N/A
Other notes
N/A
5. Equity in the Structured Entity Excluded in the Scope of Consolidated Financial Statements
Notes to the structured entity excluded in the scope of consolidated financial statements:
N/A
6. Others
N/A
207BOE Technology Group Co. Ltd. Interim Report 2025
XI. Risks Associated with Financial Instruments
1. Various Types of Risks Arising from Financial Instruments
1. Credit risk
Credit risk is the risk that one party to a financial instrument will cause a financial loss for the other party by failing to discharge an
obligation. The Group’s credit risk is primarily attributable to accounts receivables. Exposure to these credit risks is monitored by
management on an ongoing basis.The cash at bank of the Group is mainly held with well-known financial institutions. Management does not foresee any significant
credit risks from these deposits and does not expect that these financial institutions may default and cause losses to the Group.In respect of receivables the Group has established a credit policy under which individual credit evaluations are performed on all
customers to determine the credit limit and terms applicable to the customers. These evaluations focus on the customers’ financial
position the external ratings of the customers and the record of previous transactions. Receivables are due within 7 to 180 days from
the date of billing. Debtors with balances that are past due are requested to settle all outstanding balances before any further credit is
granted. Normally the Group does not obtain collateral from customers.The Group’s exposure to credit risk is influenced mainly by the individual characteristics of each customer. Therefore significant
concentrations of credit risk primarily arise when the Group has significant exposure to individual customers. On the balance sheet
date the accounts receivable and contract assets of the top five customers of the Group accounted for 37% of the total accounts
receivable and contract assets of the Group (2024: 45%). In addition the Group’s accounts receivable that are neither overdue nor
impaired are mainly related to numerous customers with no recent debt records.The hugest credit risk exposure borne by the Group is the book value of each financial asset reflected in the balance sheet. As stated
in Note XV as of 30 June 2025 the Group did not provide any external guarantees that could expose the Group to credit risk.
2. Liquidity risk
Liquidity risk is the risk that an enterprise may due to shortage of funds face difficulty in fulfilling its obligation to settle payments
by delivering cash or other financial assets. The Company and its subsidiaries are responsible for their own cash management work
including short-term investments of cash surplus and raising loans to meet expected cash needs (if the borrowing amount exceeds
certain predetermined authorization limits approval from the Company’s Board of Directors is required). The Group’s policy is to
regularly monitor its liquidity requirements and its compliance with lending covenants to ensure that it maintains sufficient reserves
of cash readily realizable marketable securities and adequate committed lines of funding from major financial institutions to meet its
liquidity requirements in the short and longer term.
3. Interest rate risk
Interest-bearing financial instruments with fixed interest rates and floating interest rates may bring the fair value interest rate risk and
cash flow interest rate risk to the Group respectively. The Group determined relative proportion of fixed interest rate and floating
interest rate according to the market environment and maintained an appropriate portfolio of fixed interest rate and floating interest
rate through regular review and monitoring. The Group has not hedged interest rate risk with derivative financial instruments.On 30 June 2025 assuming all other variables remain constant 100 basis points increase/decrease in floating interest rate of financial
instrument interest rates resulted in a decrease/increase of RMB469.31 million (2024: RMB502.55 million) in the Group’s net profit
and shareholders’ equity respectively.For floating rate non-derivative instruments held at the balance sheet date that expose the Group to cash flow interest rate risk the
impact on net profit and owner’s equity in the above sensitivity analysis is the impact of changes in the above interest rates on
interest expense or income estimated on an annualized basis. The previous year’s analysis was based on the same assumptions and
methodology.
4. Foreign currency risk
208BOE Technology Group Co. Ltd. Interim Report 2025
In respect of cash at bank and on hand accounts receivable and payable short-term loans and other assets and liabilities denominated
in foreign currencies other than the functional currency the Group ensures that its net exposure is kept to an acceptable level by
buying or selling foreign currencies at spot rates when necessary to address short-term imbalances.(a) The foreign currency asset and liability projects of the Group with significant exchange rate risk exposure as of 30 June are
mainly denominated in USD. The total risk exposure of USD projects is a net asset exposure of USD2998243331 (2024 net asset
exposure: USD2564028518) and the amount converted into RMB at the spot exchange rate on the balance sheet date is
RMB21463224709 (2024: RMB18431262599). The exchange difference on translating foreign operations is not included.(b) Assuming all other risk variables except for exchange rates remain unchanged the 5% appreciation/depreciation of the RMB
against the USD due to the exchange rate fluctuations of the Group on 30 June will result in a decrease/increase of RMB923937761
in both shareholder’s equity and net profit (2024: decrease/increase of RMB792219870).The above sensitivity analysis assumes that there is a change in the exchange rate on the balance sheet date and re-measures the
financial instruments held by the Japanese group on the balance sheet date that face foreign exchange risk using the changed
exchange rate. The above analysis does not include discrepancy of foreign currency statement translation. The previous year’s
analysis was based on the same assumptions and methodology.
2. Hedge
(1) The Company Carries out Hedging Business for Risk Management
□Applicable □Not applicable
(2) The Company Conducts Eligible Hedging Operations and Applies Hedge Accounting
Unit: RMB
Cumulative fair value
hedge adjustment of
Hedge effectiveness Impact of hedge
Carrying value related the hedged item
and hedge accounting on the
Item to hedged items and included in the
ineffectiveness partial Company’s financial
hedging instruments recognized carrying
sources statements
value of the hedged
item
Types of hedge risk
N/A
Types of hedge
N/A
Other notes
N/A
(3) The Company Conducts Hedging Operations for Risk Management Expects to Achieve Its Risk Management
Objectives but Does Not Apply Hedge Accounting
□Applicable □Not applicable
209BOE Technology Group Co. Ltd. Interim Report 2025
3. Financial Assets
(1) Classification of Transfer Methods
□Applicable □Not applicable
(2) Financial Assets Derecognized due to Transfer
□Applicable □Not applicable
(3) Continued Involvement in the Transfer of Assets Financial Assets
□Applicable □Not applicable
Other notes
XII. The Disclosure of Fair Value
1. Ending Fair Value of Assets and Liabilities at Fair Value
Unit: RMB
Ending fair value
Item Level 1 Fair value Level 2 Fair value Level 3 Fair value
Total
measurement measurement measurement
I. Consistent fair value
--------
measurement
1. Trading financial
417432020.00100494795.004605780732.005123707547.00
assets
(1) Financial assets at
fair value through 417432020.00 100494795.00 4605780732.00 5123707547.00
profit or loss
1) Debt instruments
0.00100494795.001791707363.001892202158.00
investment
2) Equity instruments
417432020.000.002814073369.003231505389.00
investment
3) Derivative financial
0.000.000.000.00
assets
(2) Financial assets
assigned measured by
fair value and the
0.000.000.000.00
changes be included in
the current gains and
losses
1) Debt instruments
0.000.000.000.00
investment
2) Equity instruments
0.000.000.000.00
investment
2. Investment in other
0.000.000.000.00
debt obligations
210BOE Technology Group Co. Ltd. Interim Report 2025
3. Other equity
316237654.000.00183062397.00499300051.00
instrument investment
4. Investment
0.000.000.000.00
properties
(1) Land use right for
0.000.000.000.00
rent
(2) Rental buildings 0.00 0.00 0.00 0.00
(3) Land use right held
and prepared to
0.000.000.000.00
transfer after
appreciation
5. Biological assets 0.00 0.00 0.00 0.00
(1) Consumable
0.000.000.000.00
biological assets
(2) Productive living
0.000.000.000.00
assets
Accounts receivable
0.000.00402983269.00402983269.00
financing
Total assets measured
at fair value on a 733669674.00 100494795.00 5191826398.00 6025990867.00
recurring basis
6. Trading financial
0.000.000.000.00
liabilities
Of which: Tradable
0.000.000.000.00
bond issued
Derivative
0.000.000.000.00
financial liabilities
Others 0.00 0.00 0.00 0.00
7. Refer as financial
liabilities measured by
fair value and the
0.000.000.000.00
changes included in the
current gains and
losses
Total liabilities of
consistent fair value 0.00 0.00 0.00 0.00
measurement
II. Inconsistent fair
--------
value measurement
1. Assets held for sale 0.00 0.00 0.00 0.00
Total assets
inconsistently 0.00 0.00 0.00 0.00
measured at fair value
Total liabilities
inconsistently 0.00 0.00 0.00 0.00
measured at fair value
211BOE Technology Group Co. Ltd. Interim Report 2025
2. Basis of Determining the Market Price for Recurring and Non-recurring Fair Value Measurements
Categorized within Level 1
The unadjusted offer in active market obtaining same assets or liabilities on the calculation date.
3. Consistent and Inconsistent Fair Value Measurement Items at Level 2 Valuation Techniques Adopted
the Qualitative and Quantitative Information of Important Parameters
Observable input value of related assets or liabilities except Level 1 input value.
4. Consistent and Inconsistent Fair Value Measurement Items at Level 3 Valuation Techniques Adopted
the Qualitative and Quantitative Information of Important Parameters
The unobservable input value of related assets or liabilities.
5. Consistent Fair Value Measurement Items at Level 3 Adjustment between the Beginning Carrying
Value and the Ending Carrying Value and Sensitivity Analysis on Unobservable Parameters
N/A
6. Explain the Reason for Conversion and the Policy Governing when the Conversion Happens if
Conversion Happens among Consistent Fair Value Measurement Items at Different Level
N/A
7. Changes in Valuation Techniques in the Reporting Period and Reasons for the Changes
N/A
8. Fair Value of Financial Assets and Liabilities Not Measured at Fair Value
N/A
9. Others
N/A
XIII. Related Party and Related-party Transactions
1. Information on the Company as the Parent
Proportion of
Proportion of share
voting rights
held by the
owned by the
Company name Registered place Business nature Registered capital Company as the
Company as the
parent against the
parent against the
Company (%)
Company (%)
Beijing Electronics Area A 6 Sanlitun Operation and RMB313921000 0.73% 12.45%
212BOE Technology Group Co. Ltd. Interim Report 2025
Holding Co. Ltd. West Sixth Street management of 0.00
Chaoyang District state-owned assets
Beijing within
authorization etc.Notes to the Company as the parent
N/A
The final controller of the Company is Beijing Electronics Holding Co. Ltd.Other notes:
N/A
2. Subsidiaries of the Company
Please refer to Note X-1 for details on the Company’s subsidiaries.
3. Information on the Joint Ventures and Associated Enterprises of the Company
For information of significant joint ventures or associated enterprises of the Company please refer to Note X-3.List of other joint ventures and associated enterprises that made connected transactions with the Company generating balance
during or before the Reporting Period:
Name Relationship with the Company
Beijing BOE Microbial Technology Co. Ltd. An associated enterprise of the Group
Chongqing Maite Optoelectronics Co. Ltd. A joint venture of the Group
Ziyang Shuzhi Health Technology Co. Ltd. An associated enterprise of the Group
Hefei Xin Jing Yuan Electronic Materials Co. Ltd. An associated enterprise of the Group
Dongfang Juzhi (Beijing) Technology Innovation Co. Ltd. and
An associated enterprise of the Group and its subsidiaries
its subsidiaries
Biochain (Beijing) Science-Technology In.c and its subsidiaries An associated enterprise of the Group and its subsidiaries
VusionGroup SA and its subsidiaries An associated enterprise of the Group and its subsidiaries
Cnoga Medical Ltd. and its subsidiaries An associated enterprise of the Group and its subsidiaries
An associated enterprise of the Group and the Company and its
BOE Art Cloud Technology Co. Ltd. and its subsidiaries
subsidiaries
Beijing Nissin Electronic Precision Components Co. Ltd. An associated enterprise of the Group and the Company
Beijing Nittan Electronic Co. Ltd. An associated enterprise of the Group and the Company
TPV Display Technology (China) Co. Ltd. An associated enterprise of the Group and the Company
Beijing Xindongneng Investment Management Co. Ltd. An associated enterprise of the Group and the Company
Other notes
N/A
4. Information on Other Related Parties
Name of other related parties Relationship with the Company
A controlling shareholder of the Company and enterprises
Beijing Electronics Holding Co. Ltd. and its subsidiaries
controlled by the same ultimate holding company
Shanghai National Engineering Research Center of Digital TV An associate enterprise of the enterprise controlled by the same
Co. Ltd. ultimate holding company
Shanghai New Vision Microelectronics Co. Ltd. and its An associate enterprise of the enterprise controlled by the same
subsidiaries ultimate holding company
213BOE Technology Group Co. Ltd. Interim Report 2025
Beijing Industrial Design Research Institute Co. Ltd. and its An associate enterprise of the enterprise controlled by the same
subsidiaries ultimate holding company
Beijing Deheng Law Office Others
Hua Xia Bank Co. Ltd. Others
Other notes
N/A
5. Transactions with Related Parties
(1) Information on Acquisition of Goods and Reception of Labor Service
Information on acquisition of goods and reception of labor service
Unit: RMB
Wheth
er
Nature of The approval trade exceed Same period of
Name of related party Reporting Period
transaction credit trade last year
credit
or not
Beijing Electronics Holding
Purchase of
Co. Ltd and its auxiliary 201654443.00 800000000.00 No 123549110.00
goods
enterprises
Beijing Electronics Holding
Receiving of
Co. Ltd and its auxiliary 11148335.00 75000000.00 No 8483448.00
labor service
enterprises
Purchase of
Other related parties 542775364.00 542775364.00 No 457380181.00
goods
Receiving of
Other related parties 1490081.00 2600000.00 No 1065672.00
labor service
Other related parties Interest costs 3403347.00 9900000.00 No 16286186.00
Information of sales of goods and provision of labor service
Unit: RMB
Name of related party Nature of transaction Reporting Period Same period of last year
Beijing Electronics Holding
Co. Ltd and its auxiliary Sales of goods 113819659.00 176825813.00
enterprises
Beijing Electronics Holding
Co. Ltd and its auxiliary Rendering of labor service 2842960.00 7704954.00
enterprises
Other related parties Sales of goods 997532009.00 1464476829.00
Other related parties Rendering of labor service 865508.00 2831408.00
Other related parties Interest income 9786799.00 17497930.00
Notes to acquisition of goods and reception of labor service
N/A
(2) Connected Trusteeship/Contract and Entrust/Contractee
Lists of connected trusteeship/contract of the Company:
214BOE Technology Group Co. Ltd. Interim Report 2025
Unit: RMB
Income
Name of the Name of the
recognized in
entruster/contra entrustee/contra Type Start date Due date Pricing basis
this Current
ctee ctor
Period
N/A
Notes to trusteeship/contract:
N/A
Lists of entrust/contractee of the Company:
Unit: RMB
Income
Name of the Name of the
recognized in
entruster/contra entrustee/contra Type Start date Due date Pricing basis
the Reporting
ctee ctor
Period
N/A
Notes to entrust/contractee
N/A
(3) Information on Connected Lease
The Company was lessor:
Unit: RMB
The lease income confirmed The lease income confirmed
Name of lessee Type of assets leased
in the Reporting Period in the same period of last year
Beijing Electronics Holding
Co. Ltd and its auxiliary Investment properties 1689855.00 1826277.00
enterprises
Other related parties Investment properties 1563762.00 5033611.00
The Company served as the lessee:
Unit: RMB
Variable lease
Rental expenses of short-term
payments not included Income expense of
lease simplified treated and Increased right-
in the measurement of Paid rent lease liabilities
low-value asset lease (if of-use assets
Type of lease liabilities (if undertaken
Name of applicable)
assets applicable)
lessor
leased Same Same
Reporti Reporti Same Reporti
Reporting Same period Reporting period Same period of period
ng ng period of ng
Period of last year Period of last last year of last
Period Period last year Period
year year
Beijing
Electronics
Holding Fixed
1272323.000.00725272.000.000.001400965.570.009049.430.000.00
Co. Ltd assets
and its
auxiliary
215BOE Technology Group Co. Ltd. Interim Report 2025
enterprises
Other
Fixed
related 0.00 176015.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
assets
parties
Notes to connected lease:
N/A
(4) Connected Guarantee
The Company was guarantor:
Unit: RMB
Whether completely
Secured party Amount Start date Due date
performed
N/A
The Company was secured party
Unit: RMB
Whether completely
Guarantee Amount Start date Due date
performed
N/A
Notes to connected guarantee
N/A
(5) Interbank Borrowing and Lending of Capital by Connected Party
Unit: RMB
Name of related party Amount Inception date Maturity date Note
Borrowing
N/A
Lending
N/A
(6) Information on Assets Transfer and Debt Restructuring by Related Party
Unit: RMB
Name of related party Nature of transaction Reporting Period Same period of last year
N/A
(7) Information on Remuneration for Key Management Personnel
Unit: RMB
Item Reporting Period Same period of last year
Remuneration for key management
11788946.0013303080.00
personnel
216BOE Technology Group Co. Ltd. Interim Report 2025
(8) Other Connected Transactions
N/A
6. Receivables from and Payables to Related Parties
(1) Accounts Receivable
Unit: RMB
Ending balance Beginning balance
Name of related
Item
party Provision for Provision forCarrying amount Carrying amount
impairment impairment
Beijing Electronics
Accounts Holding Co. Ltd
86364940.006732.0071064428.004790.00
receivable and its auxiliary
enterprises
Beijing Electronics
Holding Co. Ltd
Contract assets 361888.00 0.00 289040.00 0.00
and its auxiliary
enterprises
Beijing Electronics
Holding Co. Ltd
Other receivables 897957.00 10000.00 1391951.00 0.00
and its auxiliary
enterprises
Beijing Electronics
Holding Co. Ltd
Prepayments 115666.00 0.00 90516.00 0.00
and its auxiliary
enterprises
Beijing Electronics
Other non-current Holding Co. Ltd
32170184.000.0055018702.000.00
assets and its auxiliary
enterprises
Other related
Cash at bank 508804215.00 0.00 612658442.00 0.00
parties
Accounts Other related
486915651.005271662.00694044367.005272103.00
receivable parties
Other related
Contract assets 150140.00 0.00 150140.00 0.00
parties
Other related
Other receivables 81142.00 0.00 130000.00 0.00
parties
Other related
Prepayments 6066081.00 0.00 5942453.00 0.00
parties
Other non-current Other related
208946.000.00208946.000.00
assets parties
(2) Accounts Payable
Unit: RMB
Item Name of related party Ending carrying balance Beginning carrying balance
Beijing Electronics Holding
Accounts payable Co. Ltd and its auxiliary 61220143.00 49033758.00
enterprises
Other payables Beijing Electronics Holding 236077350.00 196128239.00
217BOE Technology Group Co. Ltd. Interim Report 2025
Co. Ltd and its auxiliary
enterprises
Beijing Electronics Holding
Advance payments received Co. Ltd and its auxiliary 0.00 29880.00
enterprises
Beijing Electronics Holding
Contract liabilities Co. Ltd and its auxiliary 12614033.00 10106753.00
enterprises
Non-current Liabilities Due
Other related parties 98571139.00 6358950.00
within One Year
Short-term loans Other related parties 0.00 50043389.00
Long-term loans Other related parties 0.00 98608350.00
Accounts payable Other related parties 85967660.00 265584208.00
Other payables Other related parties 122169735.00 58864871.00
Advance payments received Other related parties 39932.00 172625.00
Contract liabilities Other related parties 5470814.00 5442752.00
7. Commitments of the Related Parties
As at the balance sheet date the commitments of the related parties which are signed but not listed in balance sheet are for the
procurement of equipment. The amount in the current period was RMB 341768947.00 as compared with RMB192572744.00 in
the previous period.
8. Others
N/A
XIV. Share-based Payment
1. Overview of Share-based Payments
□Applicable □ Not applicable
Unit: RMB
Awarded in the Option exercise in
Unlocked in the current period Lapsed in the current period
Type of current period the current period
grantees Quant Amou Amou
Quantity Quantity Amount Quantity Amount
ity nt nt
Senior
managers
appointed
0.000.000.000.003608715.009671356.000.000.00
by the
Board of
Directors
Technical
experts
middle-
0.000.000.000.0085487825.00229107371.002252839.006037609.00
level
managers
and above
Manager
and senior 0.00 0.00 0.00 0.00 0.00 0.00 10893940.00 19962758.00
technical
218BOE Technology Group Co. Ltd. Interim Report 2025
cadre
Total 0.00 0.00 0.00 0.00 89096540.00 238778727.00 13146779.00 26000367.00
Share options or other equity instruments outstanding at the end of the period
□Applicable □ Not applicable
Other equity instruments outstanding at the end of
Share options outstanding at the end of the period
the period
Type of grantees
Range of exercise Remaining contractual Range of exercise Remaining contractual
prices life prices life
Manager and senior
RMB4.979-5.479/share 1-1.5 years N/A N/A
technical cadre
Other notes
The general meeting of shareholders of the Company approved the implementation of the share options and restricted share
incentive plans on 17 November 2020. The shares for the share options and restricted share incentive plans are from the
Company’s Renminbi A-share ordinary shares repurchased from secondary market.The grant plans for the share options and restricted share incentive plans are presented as follows:
(1) Share option incentive plan
The grant plan of share option incentive plan is divided into initial grant and reserved grant. Specifically the first grant was
granted on 21 December 2020 and was completed on 25 December 2020. 1988 people were actually granted with a total of
596229700 shares granted; the reserved grant was completed on 22 October 2021 with 110 people granted actually and
33000000 shares granted.
After 24 months from the grant date share options were exercised in three phases with exercise ratios of 34% 33% and 33% for
each phase. The corresponding exercise dates were two years three years and four years from the grant date.The Group determined the fair value of equity instruments on the grant date based on the difference between the assessed fair
value and subscription price of share options that can be exercised in each period (initial grants were RMB1.68/share
RMB1.93/share and RMB2.09/share with reserved grants of RMB1.70/share RMB2.02/share and RMB2.17/share respectively).When the performance of the Company meets the corresponding conditions the exercise ratio of the above-mentioned share
options shall be determined based on the operating performance of the incentive object’s unit and the value contribution of the
incentive object. If the exercise conditions stipulated in this plan are not met the Company shall cancel the current exercisable
shares of the options obtained by the incentive objects in accordance with this plan.
(2) Restricted share incentive plan
The grant date of the restricted share incentive plan was 21 December 2020 and it was completed on 29 December 2020. The
actual number of grants was 793 with 321813800 shares granted.Restricted shares had lock up periods of 24 months 36 months and 48 months from the grant date. During the restricted period
the restricted shares granted to the incentive objects under this plan shall not be transferred used as collaterals or used to repay
debts before the restriction is lifted; after 24 months from the grant date the unlocking will be divided into three periods with
unlocking proportions of 34% 33% and 33% for each period. The corresponding unlocking dates were two years three years and
four years from the grant date. The actual unlocking quantity shall be linked to the performance assessment results of the previous
year.The Group determined the fair value of equity instruments on the grant date based on the difference between the fair value of the
shares on the grant date and the subscription price of RMB2.68 per share.When the performance of the Company meets the corresponding conditions the unlocking ratio of the above-mentioned restricted
shares for the current period will be determined based on the operating performance of the incentive object’s unit and the value
contribution of the incentive recipient.
219BOE Technology Group Co. Ltd. Interim Report 2025
The lifting of the restriction conditions in the first lifting restriction period for restricted shares granted by the 2020 Share Option
and Restricted Share Incentive Plan of the Company has been achieved. The first exercise period of the share option granted for
the first time has met the exercise conditions. According to the authorization of the second extraordinary general meeting of
shareholders in 2020 the Board of Directors shall handle all necessary matters for the lifting of restrictions or exercise of rights on
eligible incentive objects. The total number of incentive objects whose restrictions were lifted was 746. Statistically 102260780
restricted shares were lifted out of restrictions accounting for 0.27% of the current total share capital of the Company. There was a
total of 1820 incentive objects who met the conditions for option exercise this time and the number of feasible share options
was183779741 accounting for 0.48% of the Company’s total share capital.The first exercise period reserved for granting share options in the Company’s 2020 Share Option Incentive Plan has met the
exercise conditions. According to the authorization of the second extraordinary general meeting of shareholders in 2020 the Board
of Directors shall handle all necessary matters for the lifting of restrictions or exercise of rights on eligible incentive objects. There
was a total of 93 incentive objects who met the conditions for option exercise this time and the number of feasible share options
was 9468320 accounting for 0.03% of the Company’s total share capital.The lifting of the restriction conditions in the second lifting restriction period for restricted shares granted by the 2020 Restricted
Share Incentive Plan of the Company has been achieved. According to the authorization of the second extraordinary general
meeting of shareholders in 2020 the board of directors handled the lifting of the restriction in accordance with the relevant
regulations for the incentive objects that meet the restrictions on sales. A total of 716 incentive recipients were lifted this time and
the number of restricted shares released from the restriction was 95859475 shares accounting for 0.2546% of the Company's
current total share capital.The lifting of the restriction conditions in the third lifting restriction period for restricted shares granted by the 2020 Restricted
Share Incentive Plan of the Company has been achieved. According to the authorization of the second extraordinary general
meeting of shareholders in 2020 the board of directors handled the lifting of the restriction in accordance with the relevant
regulations for the incentive objects that meet the restrictions on sales. A total of 667 incentive recipients were lifted this time and
the number of restricted shares released from the restriction was 89096540 shares accounting for 0.2367% of the Company's
current total share capital.If the unlocking conditions stipulated in the plan were not met the restricted shares of incentive objects shall not be unlocked for
the current period and shall be repurchased by the Company in accordance with the grant price for the incentive objects.
2. Equity-settled Share-based Payments
□Applicable □ Not applicable
Unit: RMB
Share options: The Group determined the fair value of equity
instruments at the grant date based on the difference between
the assessed fair value of the exercisable share options at grant
Methods for determining the fair value of equity instruments on date and the subscription price in RMB.the grant date Restricted shares: The Group determined the fair value of
equity instruments at the grant date based on the difference
between the fair value of shares at the grant date and the
subscription price.Share options: RMB1.68/share RMB1.93/share and
RMB2.09/share for the first batch and RMB1.70/share
RMB2.02/share and RMB2.17/share for the second batch
Important parameters for the fair value of equity instruments at respectively.the grant date Restricted shares: The Group determined the fair value of
equity instruments at the grant date based on the difference
between the fair value of the shares at the grant date and the
subscription price of RMB2.68 per share.
220BOE Technology Group Co. Ltd. Interim Report 2025
At each balance sheet date during the vesting period the best
estimation is made according to the latest information such as
the number of employees who are granted options and the
Basis of determining the number of equity instruments
completion of performance indicators and the number of
expected to vest
equity instruments expected to vest is revised accordingly. On
the vesting date the estimated number is equal to the number
of equity instruments that are ultimately vested.Reasons for the significant discrepancy between the current
N/A
period estimates and the previous estimates
Accumulated amount of equity-settled share-based payment
1706581247.00
included in capital reserves
The total amount of the expense of equity-settled share-based
1378584.00
payment recognized in the current period
Other notes
N/A
3. Cash-settled Share-based Payments
□Applicable □Not applicable
4. Share-Based Payment Expenses for the Period
□Applicable □Not applicable
5. Modification and Termination of Share-based Payments
N/A
6. Others
N/A
XV. Commitments and Contingency
1. Significant Commitments
Significant commitments on the balance sheet date
Unit:
RMB
The Group 30 June 2025 31 December 2024
Investment contracts entered into but not
performed or partially performed 20170160783.00 28280123927.00
Investment contracts authorized but not
entered into 78357202724.00 85050646514.00
Total 98527363507.00 113330770441.00
The Company 30 June 2025 31 December 2024
Investment contracts entered into but not
performed or partially performed 25178743566.00 34183130229.00
221BOE Technology Group Co. Ltd. Interim Report 2025
Investment contracts authorized but not
entered into 0.00 0.00
Total 25178743566.00 34183130229.00
2. Contingency
(1) Significant Contingency on Balance Sheet Date
N/A
(2) Explanation Shall Be Given Even if there Is no Significant Contingency for the Company to Disclose
There was no significant contingency in the Company to disclose.
3. Others
N/A
XVI. Other Significant Events
1. The Accounting Errors Correction in Previous Period
(1) Retrospective Restatement
Unit: RMB
Name of the influenced report
Content Processing program items during comparison Accumulative impact
period
N/A
(2) Prospective Application
Reason for adopting prospective
Content Processing program
application
N/A
2. Debt Restructuring
N/A
3. Assets Replacement
(1) Non-monetary Assets Exchange
N/A
222BOE Technology Group Co. Ltd. Interim Report 2025
(2) Other Assets Replacement
N/A
4. Pension Plans
In order to ensure and improve the living standards of retirees in BOE Technology Group Co. Ltd. and put in place a multi-layer
old-age security system and a long-term talent retaining mechanism as per China’s relevant policies and regulations BOE
Technology Group Co. Ltd. has established the annuity programme since January 2014. The annuity fund consists of the
contributions by the Company (paid as per the government’s regulations according to the applicable taxation policy) the
contributions by employees (deducted by the Company from their salaries according to the applicable taxation policy) and the
returns on investment by the fund (operated by the relevant government department according to the investment principle of high
security and moderate income).
5. Discontinued Operations
Unit: RMB
Profit from
discontinued
operations
Profit before Income tax
Item Income Costs Net profit attributable to
taxation expenses
owners of the
Company as the
parent
N/A
Other notes
N/A
6. Segment Information
(1) Recognition Basis and Accounting Policies of Reportable Segment
1) Display devices business—The display devices business offers integrated design and manufacturing services for devices and is
committed to providing interface devices applying TFT-LCD AMOLED Microdisplay and other technologies focusing on
providing customers with high-quality display devices for smartphones TPC laptops monitors TVs vehicle-mounted electronic
shelf label (ESL) industrial control household medical applications applications on wearable devices whiteboards tiled display
screens commercial devices etc.
2) Internet of Things (IoT) innovation business—The IoT Innovation business offers integrated design and manufacturing services
for system solutions and provides customers with competitive smart terminal products for TVs monitors laptops TPC low-
power devices IoT 3D display etc. Backed by AI and big data technologies it focuses on products and services combining
hardware and software providing integrated IoT solutions for segments including smart industrial parks smart finance smart
government affairs and transportation visual arts smart energy all-in-one machines etc.
3) Sensor business—The sensing business designs and integrates manufacturing models for system solutions covering both glass-
based and silicon-based areas. It focuses on intelligent windows innovative glass-based sensor devices MEMS sensors industrial
sensors and consumer electronics and provides customers with products and solutions including intelligent dimming windows
and dimming system solutions industrial sensors and solutions MEMS sensors and the back panels of X-ray FPXDs.
223BOE Technology Group Co. Ltd. Interim Report 2025
4) MLED business—The MLED business designs and integrates manufacturing models for devices. It provides high-quality LED
backlight products with high reliability for display products in the fields of TVs monitors laptops and automobiles. Meanwhile it
provides Mini/Micro LED display products featuring high brightness high reliability and high contrast to application segments
such as outdoor commercial transparent and special display.
5) The Smart Engineering Medicine business—the Smart Engineering Medicine business provides services and solutions for
healthcare intelligent recreation and medical engineering integration products. At the same time it creates a full-cycle closed
loop of health services that centers on health management is driven by medical engineering terminals and supported by digital
hospitals and healthcare communities and establishes an ecosystem of smart health management. Moreover it connects testing
equipment medical personnel and customers and provide customers with full-chain professional health services covering
"prevention diagnosis and treatment and healthcare".
6) Others—Other services except for the above business provide hardware and software integrated system solutions for different
industries including Internet of Vehicles industrial IoT digital art and other fields which can provide customers with all-
dimensional one-stop and smart new experience under IoT scenarios.The main reason to separate the segments is that the Group independently manages the display devices business IoT innovation
business sensor business MLED business the Smart Engineering Medicine business and other business. As these business
segments manufacture and/or sell different products apply different manufacturing processes and specify in gross profit the
business segments are managed independently. The management of the Group evaluates the performance and allocates resources
according to the profit of each business segment and does not take financing cost and investment income into account.
(2) The Financial Information of Reportable Segment
Unit: RMB
Smart Other
IoT Sensor and medicine business Offset
Display MLED
Item innovation solution and and offset among Total
devices business
business business engineering among segments
business segments
-
Operating 84332237 18191101 22358056 43465661 91748572 10127818
673278920.00
revenue 426.00 534.00 5.00 03.00 5.00 2135.00
18.00
-
Operating 73876234 16174169 16760826 40976101 94776082 86687428
857595450.00
costs 378.00 408.00 1.00 63.00 3.00 435.00
98.00
(3) If there Was no Reportable Segment or the Total Amount of Assets and Liabilities of Each Reportable
Segment Could not Be Reported Relevant Reasons Shall Be Clearly Stated
N/A
(4) Other Notes
N/A
7. Other Significant Transactions and Events with Influence on Investors’ Decision-making
N/A
224BOE Technology Group Co. Ltd. Interim Report 2025
8. Others
N/A
XVII. Notes of Main Items in the Financial Statements of the Company as the Parent
1. Accounts Receivable
(1) Disclosure by Aging
Unit: RMB
Aging Ending carrying balance Beginning carrying balance
Within one year (including one year) 1793644780.00 3217732115.00
One to two years 209432405.00 1322026.00
Two to three years 819464.00 785947.00
Over three years 340582610.00 340575549.00
Three to four years 1722402.00 35998376.00
Four to five years 134053787.00 301260172.00
Over five years 204806421.00 3317001.00
Total 2344479259.00 3560415637.00
225BOE Technology Group Co. Ltd. Interim Report 2025
(2) Disclosure by Withdrawal Methods for Bad Debts
Unit: RMB
Ending balance Beginning balance
Carrying amount Provision for impairment Carrying amount Provision for impairment
Category
Withdrawal Carrying value Withdrawal Carrying value
Amount Proportion Amount Amount Proportion Amount
proportion proportion
Accounts
receivable
for which
bad debt 2344303278.00 99.99% 3248761.00 0.14% 2341054517.00 3560093565.00 99.99% 3248761.00 0.09% 3556844804.00
provision
accrued
separately
Of which:
Customers
with a high 3248761.00 0.14% 3248761.00 100.00% 0.00 3248761.00 0.09% 3248761.00 100.00% 0.00
credit risk
Customers
with a low 2341054517.00 99.85% 0.00 0.00% 2341054517.00 3556844804.00 99.90% 0.00 0.00% 3556844804.00
credit risk
Accounts
receivable
withdrawal
175981.000.01%0.000.00%175981.00322072.000.01%0.000.00%322072.00
of bad debt
provision by
portfolio
Of which:
Customers
with a
175981.000.01%0.000.00%175981.00322072.000.01%0.000.00%322072.00
moderate
credit risk
Total 2344479259.00 100.00% 3248761.00 0.14% 2341230498.00 3560415637.00 100.00% 3248761.00 0.09% 3557166876.00
Category name of bad debt provision accrued separately: Customers with high credit risks and customers with low credit risks
226BOE Technology Group Co. Ltd. Interim Report 2025
Unit: RMB
Beginning balance Ending balance
Name Provision for Provision for
Carrying amount Carrying amount Withdrawal proportion Reason for withdrawal
impairment impairment
Customers with a high
3248761.00 3248761.00 3248761.00 3248761.00 100.00% N/A
credit risk
Customers with a low
3556844804.00 0.00 2341054517.00 0.00 0.00% N/A
credit risk
Total 3560093565.00 3248761.00 2344303278.00 3248761.00
227BOE Technology Group Co. Ltd. Interim Report 2025
Category name of withdrawal of bad debt provision by portfolio: Customers with moderate credit risk
Unit: RMB
Ending balance
Name
Carrying amount Provision for impairment Withdrawal proportion
Customers with a moderate
175981.000.000.00%
credit risk
Total 175981.00 0.00
Notes for the basis of determining such portfolio:
Customer grouping Grouping basis
Customers with a high credit risk There are special circumstances such as litigation or deterioration of
customer credit standing
Customers with a low credit risk Banks insurance companies large central enterprises and public
institutions
Customers with a moderate credit risk Customers not classified as the above grouping
If adopting the general mode of expected credit loss to withdraw bad debt provision of accounts receivable:
□Applicable □Not applicable
(3) Bad Debt Provision Withdrawn Reversed or Recovered in the Reporting Period
Information of bad debt provision withdrawn:
Unit: RMB
Changes in the Reporting Period
Beginning
Category Ending balance
balance Reversal orWithdrawal Write-off Others
recovery
Customers with
a high credit 3248761.00 0.00 0.00 0.00 0.00 3248761.00
risk
Total 3248761.00 0.00 0.00 0.00 0.00 3248761.00
Of which bad debt provision reversed or recovered with significant amount:
Unit: RMB
Basis and rationality of
determining the
Amount reversed or
Subsidiary Reason for reversal Way of recovery original withdrawal
recovered
proportion of bad debt
provision
N/A
N/A
(4) Accounts Receivable with Actual Verification during the Reporting Period
Unit: RMB
Item Amount verified
Accounts receivable with actual verification 0.00
Of which the verification of significant accounts receivable:
228BOE Technology Group Co. Ltd. Interim Report 2025
Unit: RMB
Verification Whether generated
Reason for
Subsidiary Nature Amount verified procedures from connected
verification
performed transactions
N/A
Notes to verification of accounts receivable:
N/A
(5) Top Five Accounts Receivable and Contract Assets in Ending Balance Collected according to the
Arrears Party
Unit: RMB
Ending balance of
Proportion to total bad debt provision
Ending balance of
Ending balance of ending balance of of accounts
Ending balance of accounts
Subsidiary accounts accounts receivable and
contract assets receivable and
receivable receivable and impairment
contract assets
contract assets provision for
contract assets
Customer 1 715053364.00 0.00 715053364.00 30.50% 0.00
Customer 2 351579760.00 0.00 351579760.00 15.00% 0.00
Customer 3 348661997.00 0.00 348661997.00 14.87% 0.00
Customer 4 265256988.00 0.00 265256988.00 11.31% 0.00
Customer 5 162500973.00 0.00 162500973.00 6.93% 0.00
Total 1843053082.00 0.00 1843053082.00 78.61% 0.00
2. Other Receivables
Unit: RMB
Item Ending balance Beginning balance
Interest receivable 0.00 0.00
Dividends receivable 333608822.00 1625667171.00
Other receivables 24144564239.00 30450047947.00
Total 24478173061.00 32075715118.00
(1) Interest Receivable
1) Category of Interest Receivable
Unit: RMB
Item Ending balance Beginning balance
Fixed time deposit 0.00 0.00
Entrusted loans 0.00 0.00
Bond investment 0.00 0.00
Total 0.00 0.00
229BOE Technology Group Co. Ltd. Interim Report 2025
2) Significant Overdue Interest
Unit: RMB
Whether occurred
Borrower Ending balance Overdue time Reason impairment and its
judgment basis
N/A
Other notes:
N/A
3) Disclosure by Withdrawal Methods for Bad Debts
□Applicable □Not applicable
4) Bad Debt Provision Withdrawal Reversed or Recovered in the Current Period
Unit: RMB
Changes in the Reporting Period
Beginning
Category Reversal or Charged- Ending balancebalance Withdrawal Other changes
recovery off/Written-off
N/A
Of which bad debt provision reversed or recovered with significant amount:
Unit: RMB
Basis and rationality of
determining the
Amount reversed or
Subsidiary Reason for reversal Way of recovery original withdrawal
recovered
proportion of bad debt
provision
N/A
Other notes:
N/A
5) Interest Receivable with Actual Verification during the Reporting Period
Unit: RMB
Item Amount verified
Interest receivable with actual verification 0.00
Of which the verification of significant interest receivable:
Unit: RMB
Verification Whether generated
Reason for
Subsidiary Nature Amount verified procedures from connected
verification
performed transactions
N/A
Notes to verification:
N/A
230BOE Technology Group Co. Ltd. Interim Report 2025
Other notes:
N/A
(2) Dividends Receivable
1) Category of Dividends Receivable
Unit: RMB
Item (or investee) Ending balance Beginning balance
Chongqing BOE Optoelectronics
100000000.00400000000.00
Technology Co. Ltd.Beijing BOE Land Co. Ltd. 0.00 25345840.00
Beijing BOE Matsushita Color CRT Co.
202655888.00382655888.00
Ltd.BOE Optoelectronics Holdings Co. Ltd. 0.00 800772478.00
Others 30952934.00 16892965.00
Total 333608822.00 1625667171.00
2) Significant Dividend Receivable Aging Over One Year
Unit: RMB
Whether occurred
Item (or investee) Ending balance Aging Unrecovered reason impairment and its
judgment basis
N/A
3) Disclosure by Withdrawal Methods for Bad Debts
□Applicable □Not applicable
4) Bad Debt Provision Withdrawal Reversed or Recovered in the Current Period
Unit: RMB
Changes in the Reporting Period
Beginning
Category Reversal or Charged- Ending balancebalance Withdrawal Other changes
recovery off/Written-off
N/A
Of which bad debt provision reversed or recovered with significant amount:
Unit: RMB
Basis and rationality of
determining the
Amount reversed or
Subsidiary Reason for reversal Way of recovery original withdrawal
recovered
proportion of bad debt
provision
N/A
Other notes:
N/A
231BOE Technology Group Co. Ltd. Interim Report 2025
5) Dividends Receivable with Actual Verification during the Reporting Period
Unit: RMB
Item Amount verified
Dividend receivable with actual verification 0.00
Of which the verification of significant dividends receivable:
Unit: RMB
Verification Whether generated
Reason for
Subsidiary Nature Amount verified procedures from connected
verification
performed transactions
N/A
Notes to verification:
N/A
Other notes:
N/A
(3) Other Accounts Receivable
1) Other Account Receivable Classified by Account Nature
Unit: RMB
Nature Ending carrying balance Beginning carrying balance
Transaction amount 23892870769.00 30195532432.00
Others 255642627.00 258464672.00
Total 24148513396.00 30453997104.00
2) Disclosure by Aging
Unit: RMB
Ageing Ending carrying balance Beginning carrying balance
Within one year (including one year) 9456776161.00 14613008207.00
One to two years 14396328385.00 15566224475.00
Two to three years 63378560.00 133433055.00
Over three years 232030290.00 141331367.00
Three to four years 123827990.00 67752190.00
Four to five years 56255505.00 21133043.00
Over five years 51946795.00 52446134.00
Total 24148513396.00 30453997104.00
232BOE Technology Group Co. Ltd. Interim Report 2025
3) Disclosure by Withdrawal Methods for Bad Debts
Unit: RMB
Ending balance Beginning balance
Carrying amount Provision for impairment Carrying amount Provision for impairment
Category
Withdrawal Carrying value Withdrawal Carrying value
Amount Proportion Amount Amount Proportion Amount
proportion proportion
Bad debt
provision
24148513396.00100.00%3949157.000.02%24144564239.0030453997104.00100.00%3949157.000.01%30450047947.00
separately
accrued
Of which:
Funds with
high credit 3949157.00 0.02% 3949157.00 100.00% 0.00 3949157.00 0.01% 3949157.00 100.00% 0.00
risk
Funds with
low credit 24144564239.00 99.98% 0.00 0.00% 24144564239.00 30450047947.00 99.99% 0.00 0.00% 30450047947.00
risk
Withdrawal
of bad debt
0.000.00%0.000.00%0.000.000.00%0.000.00%0.00
provision by
group
Of which:
Funds with
moderate 0.00 0.00% 0.00 0.00% 0.00 0.00 0.00% 0.00 0.00% 0.00
credit risk
Total 24148513396.00 100.00% 3949157.00 0.02% 24144564239.00 30453997104.00 100.00% 3949157.00 0.01% 30450047947.00
Category name of bad debt provision accrued separately: Funds with high credit risk and Funds with low credit risk
Unit: RMB
Beginning balance Ending balance
Name Provision for Withdrawal Reason for
Carrying amount Provision for impairment Carrying amount
impairment proportion withdrawal
Funds with high credit
3949157.00 3949157.00 3949157.00 3949157.00 100.00% N/A
risk
233BOE Technology Group Co. Ltd. Interim Report 2025
Funds with low credit
30450047947.00 0.00 24144564239.00 0.00 0.00% N/A
risk
Total 30453997104.00 3949157.00 24148513396.00 3949157.00
Category name of withdrawal of bad debt provision by portfolio: Funds with moderate credit risk
Unit: RMB
Ending balance
Name
Carrying amount Provision for impairment Withdrawal proportion
Funds with moderate credit risk 0.00 0.00 0.00%
Total 0.00 0.00
Notes for the basis of determining such portfolio:
Customer grouping Grouping basis
Funds with high credit risk There are special circumstances such as litigation or deterioration of customer credit standing
Funds with low credit risk Intra-group units imprest security deposits deposits and funds with low credit risk to customers
Funds with moderate credit risk Funds not classified as the above grouping
234BOE Technology Group Co. Ltd. Interim Report 2025
Withdrawal of bad debt provision by adopting the general mode of expected credit loss:
Unit: RMB
Phase I Phase II Phase III
Provision for Expected credit losses Expected credit losses
Total
impairment Expected credit loss in for the whole existence for the whole existence
the next 12 months period (no credit period (with credit
impairment) impairment)
Balance of 1 January
0.000.003949157.003949157.00
2025
Balance of 1 January
2025 in the Current
Period
- Transfer to Phase II 0.00 0.00 0.00 0.00
- Transfer to Phase III 0.00 0.00 0.00 0.00
- Reverse to Phase II 0.00 0.00 0.00 0.00
- Reverse to Phase I 0.00 0.00 0.00 0.00
Withdrawal of the
0.000.000.000.00
current period
Reversal of the current
0.000.000.000.00
period
Amount charged-off
0.000.000.000.00
for the current period
Amount written-off for
0.000.000.000.00
the current period
Other changes 0.00 0.00 0.00 0.00
Balance of 30 June
0.000.003949157.003949157.00
2025
The basis for the division of each phase and the withdrawal proportion of bad debt provision
Item Phase I Phase II Phase III
Credit risk has increased
Credit risk has not increased significantly since initial
Credit impairment has occurred
Phase characteristics significantly since initial recognition but credit
after initial recognition
recognition impairment has not yet
occurred
Expected credit loss in the next Expected credit loss for the Expected credit loss for the
Loss provisions
12 months whole existence period whole existence period
Changes of carrying amount with significant amount changed of loss provision in the current period
□Applicable □Not applicable
4) Bad Debt Provision Withdrawn Reversed or Recovered in the Reporting Period
Information of bad debt provision withdrawn:
Unit: RMB
Changes in the Reporting Period
Beginning
Category
balance Reversal or Charged-
Ending balance
Withdrawal Others
recovery off/Written-off
235BOE Technology Group Co. Ltd. Interim Report 2025
Funds with
3949157.000.000.000.000.003949157.00
high credit risk
Total 3949157.00 0.00 0.00 0.00 0.00 3949157.00
N/A
Of which the bad debt provision reversed or recovered with significant amount during the Reporting Period:
Unit: RMB
Basis and rationality of
determining the
Amount reversed or
Subsidiary Reason for reversal Way of recovery original withdrawal
recovered
proportion of bad debt
provision
N/A
5) Other Accounts Receivable with Actual Verification during the Reporting Period
Unit: RMB
Item Amount verified
N/A 0.00
Of which the verification of significant other accounts receivable:
Unit: RMB
Verification Whether generated
Reason for
Subsidiary Nature Amount verified procedures from connected
verification
performed transactions
N/A
Notes to the verification of other accounts receivable:
N/A
6) Top Five Other Accounts Receivable in Ending Balance Collected According to the Arrears Party
Unit: RMB
Proportion to total
ending balance of Ending balance of
Subsidiary Nature Ending balance Aging
other receivables bad debt provision
(%)
Within one year
(including one
Transaction year) three to four
Customer 1 5673796245.00 23.50% 0.00
amount years four to five
years over five
years
Within one year
(including one
Transaction year) one to two
Customer 2 5196528121.00 21.52% 0.00
amount years three to four
years four to five
years
236BOE Technology Group Co. Ltd. Interim Report 2025
Within one year
Transaction (including one
Customer 3 3243630675.00 13.43% 0.00
amount year) one to two
years
Within one year
Transaction (including one
Customer 4 2459116373.00 10.18% 0.00
amount year) one to two
years over 5 years
Within one year
Transaction (including one
Customer 5 1901388889.00 7.87% 0.00
amount year) one to two
years
Total 18474460303.00 76.50% 0.00
237BOE Technology Group Co. Ltd. Interim Report 2025
7) Presentation in Other Receivables Due to the Centralized Management of Fund
Unit: RMB
Amounts presented in other receivables due to the centralized management of funds 0.00
Explanation N/A
Other notes:
N/A
3. Long-term Equity Investment
Unit: RMB
Ending balance Beginning balance
Item Impairment
Carrying amount Impairment provision Carrying value Carrying amount Carrying value
provision
Investment to subsidiaries 209978208065.00 0.00 209978208065.00 200829541576.00 0.00 200829541576.00
Investment to joint ventures and associated
2266703167.000.002266703167.002362000389.000.002362000389.00
enterprises
Total 212244911232.00 0.00 212244911232.00 203191541965.00 0.00 203191541965.00
(1) Investment to Subsidiaries
Unit: RMB
Increase/decrease
Beginning Ending
Beginning balance balance of Withdrawal balance of
Investee Additional Reduced of Ending balance (carrying value)(carrying value) impairment Others impairment
provision investment investment impairment provision
provision
Chengdu BOE
Optoelectronics
25144351769.000.000.000.000.0050051.0025144401820.000.00
Technology Co.Ltd.
238BOE Technology Group Co. Ltd. Interim Report 2025
Hefei BOE
Optoelectronics
2779559286.000.000.000.000.000.002779559286.000.00
Technology Co.Ltd.Beijing BOE
Display
Technology Co. 9049663743.00 0.00 0.00 0.00 0.00 132948.00 9049796691.00 0.00
Ltd. (Beijing
BOE Display)
Hefei Xinsheng
Optoelectronics
10430796372.000.000.000.000.00116460.0010430912832.000.00
Technology Co.Ltd.Ordos
Yuansheng
11817053346.000.000.000.000.000.0011817053346.000.00
Optoelectronics
Co. Ltd.Chongqing BOE
Optoelectronics
4228393682.000.000.000.000.0016602.004228410284.000.00
Technology Co.Ltd.Hefei BOE
Display
Technology Co. 8984024522.00 0.00 0.00 0.00 0.00 0.00 8984024522.00 0.00
Ltd. (Hefei BOE
Display)
Fuzhou BOE
Optoelectronics
15245602817.000.00220939244.000.000.0016603.0015466558664.000.00
Technology Co.Ltd.Mianyang BOE
Optoelectronics
22349926566.000.000.000.000.000.0022349926566.000.00
Technology Co.Ltd.Chongqing BOE
Display
10019599110.000.000.000.000.0016848.0010019615958.000.00
Technology Co.Ltd.
239BOE Technology Group Co. Ltd. Interim Report 2025
Fuzhou BOE
Display
23060520.000.000.000.000.000.0023060520.000.00
Technology Co.Ltd.Chengdu BOE
Display
4499865000.000.003299901000.000.000.0016602.007799782602.000.00
Technology Co.Ltd.Wuhan BOE
Optoelectronics
12533302733.000.000.000.000.000.0012533302733.000.00
Technology Co.Ltd.Nanjing BOE
Display
5604272903.000.000.000.000.0066408.005604339311.000.00
Technology Co.Ltd.Chengdu BOE
Display
7562546220.000.000.000.000.0066408.007562612628.000.00
Technology Co.Ltd.Beijing BOE
Chuangyuan
7427158963.000.004075108700.000.000.0066654.0011502334317.000.00
Technology Co.Ltd.Yunnan
Chuangshijie
Optoelectronics 1522715006.00 0.00 0.00 0.00 0.00 16601.00 1522731607.00 0.00
Technology Co.Ltd.Hefei BOE
Zhuoyin
606269816.000.000.000.000.000.00606269816.000.00
Technology Co.Ltd.Mianyang BOE
Electronics
1467000000.000.0050000000.000.000.000.001517000000.000.00
Technology Co.Ltd.BOE (Hebei) 1356796294.00 0.00 0.00 0.00 0.00 0.00 1356796294.00 0.00
240BOE Technology Group Co. Ltd. Interim Report 2025
MOBILE
Display
Technology Co.Ltd.BOE Hyundai
LCD (Beijing)
Display 42614481.00 0.00 0.00 0.00 0.00 0.00 42614481.00 0.00
Technology Co.Ltd.Beijing BOE
Vision
Electronic 5157858263.00 0.00 152000000.00 0.00 0.00 0.00 5309858263.00 0.00
Technology Co.Ltd.BOE Optical
Science and
670638292.000.000.000.000.0016601.00670654893.000.00
Technology Co.Ltd.Hefei BOE
Xingyu
507153667.000.000.000.000.000.00507153667.000.00
Technology Co.Ltd.BOE Jingxin
Technology Co. 1640914551.00 0.00 242000000.00 0.00 0.00 33204.00 1882947755.00 0.00
Ltd.HC Semitek
2083597236.000.000.000.000.000.002083597236.000.00
Co. Ltd.Beijing BOE
Sensor
4589006285.000.0020000000.000.000.0033204.004609039489.000.00
Technology Co.Ltd.Beijing Shiyan
Technology Co. 168899524.00 0.00 0.00 0.00 0.00 0.00 168899524.00 0.00
Ltd.BOE Smart
Technology Co. 2936444400.00 0.00 60000000.00 0.00 0.00 0.00 2996444400.00 0.00
Ltd.BOE Health 10136833696.00 0.00 504000000.00 0.00 0.00 0.00 10640833696.00 0.00
241BOE Technology Group Co. Ltd. Interim Report 2025
Investment
Management
Co. Ltd.Beijing BOE
Energy
858892813.000.000.000.000.000.00858892813.000.00
Technology Co.Ltd.BOE Innovation
Investment Co. 4777308507.00 0.00 318637300.00 0.00 0.00 0.00 5095945807.00 0.00
Ltd.Beijing BOE
Matsushita
6797248.000.000.000.000.000.006797248.000.00
Color CRT Co.Ltd.Beijing Yinghe
Century Co. 360643405.00 0.00 0.00 0.00 0.00 16602.00 360660007.00 0.00
Ltd.Beijing BOE
10236970.000.000.000.000.000.0010236970.000.00
Land Co. Ltd.Beijing BOE
Vacuum
20211313.000.000.000.000.000.0020211313.000.00
Electrical Co.Ltd
BOE Semi-
conductor Co. 9450000.00 0.00 0.00 0.00 0.00 0.00 9450000.00 0.00
Ltd.Beijing BOE
Marketing Co. 32139650.00 0.00 0.00 0.00 0.00 0.00 32139650.00 0.00
Ltd.BOE (KOREA)
9638256.000.000.000.000.000.009638256.000.00
Co. Ltd.BOE
Optoelectronics
3487684762.000.000.000.000.000.003487684762.000.00
Holdings Co.Ltd
Beijing BOE
Solar Energy 221274084.00 0.00 30000000.00 0.00 0.00 0.00 251274084.00 0.00
Technology Co.
242BOE Technology Group Co. Ltd. Interim Report 2025
Ltd.Beijing
Zhongxiangying
102547815.000.000.000.000.000.00102547815.000.00
Technology Co.Ltd.Beijing BOE
Life Technology 10000000.00 0.00 0.00 0.00 0.00 0.00 10000000.00 0.00
Co. Ltd.Beijing BOE
Technology
13156190.000.000.000.000.000.0013156190.000.00
Development
Co. Ltd.Beijing BOE
Material
0.000.00175000000.000.000.000.00175000000.000.00
Technology Co.Ltd.Dongfang
Chengqi
(Beijing)
16614833.000.000.000.000.000.0016614833.000.00
Business
Technology Co.Ltd.Others* 307026667.00 0.00 0.00 0.00 0.00 398449.00 307425116.00 0.00
Total 200829541576.00 0.00 9147586244.00 0.00 0.00 1080245.00 209978208065.00 0.00
(2) Investment to Joint Ventures and Associated Enterprises
Unit: RMB
Increase/decrease
Beginning Profit and Ending
Beginning Declared
balance of Additiona loss on Adjustment Other WithdrawaReduced distribution Ending balance balance ofInvestee balance
impairmen l investments of other equity l of Otherinvestmen of cash (carrying value) impairmen(carrying value)
t provision investmen confirmed comprehensiv movement impairmen st dividends or t provision
t according to e income s t provision
profits
equity law
I. Joint Ventures
243BOE Technology Group Co. Ltd. Interim Report 2025
N/A
II. Associated Enterprises
Beijing
Xindongnen
g - -
Investment 922008650.00 0.00 0.00 0.00 10170853.0 -9401848.00 0.00 45000000.0 0.00 0.00 857435949.00 0.00
Fund 0 0
(Limited
Partnership)
Erdos BOE
Energy
135677369.000.000.000.00-179474.000.000.000.000.000.00135497895.000.00
Investment
Co. Ltd.---
1304314370.01273769323.0
Others 0.00 0.00 0.00 22052270.0 2232932.00 126382.0 10599327.0 0.00 0.00 0.00
00
000
---
2362000389.02266703167.0
Sub-total 0.00 0.00 0.00 32402597.0 -7168916.00 126382.0 55599327.0 0.00 0.00 0.00
00
000
---
2362000389.02266703167.0
Total 0.00 0.00 0.00 32402597.0 -7168916.00 126382.0 55599327.0 0.00 0.00 0.00
00
000
244BOE Technology Group Co. Ltd. Interim Report 2025
The recoverable amount is determined based on the net amount of the fair value minus disposal costs
□Applicable □Not applicable
The recoverable amount is determined by the present value of the expected future cash flow
□Applicable □Not applicable
The reason for the discrepancy between the foregoing information and the information used in the impairment tests in prior years
or external information
N/A
The reason for the discrepancy between the information used in the Company’s impairment tests in prior years and the actual
situation of those years
N/A
(3) Other Notes
N/A
4. Operating Revenue and Cost of Sales
Unit: RMB
Reporting Period Same period of last year
Item
Income Cost Income Cost
Principal activities 2175880981.00 5188387.00 1873740107.00 4858228.00
Other operating
33424378.0062729.003023314.0031184.00
activities
Total 2209305359.00 5251116.00 1876763421.00 4889412.00
Breakdown information of operating revenue and cost of sales:
Unit: RMB
Operating revenue by region Reporting Period Same period of last year
Mainland China 2207945325.00 1876179096.00
Other regions 1360034.00 584325.00
Total 2209305359.00 1876763421.00
Information related to performance obligations:
Funds Type of quality
Nature of goods
Timing of Whether or not undertaken by assurance
that the
fulfillment of Important the person the Company provided by the
Item Company is
performance payment terms primarily expected to be Company and
committed to
obligations responsible returned to related
transfer
customers obligations
N/A
Other notes
N/A
245BOE Technology Group Co. Ltd. Interim Report 2025
Information related to transaction value assigned to residual performance obligations:
The amount of revenue corresponding to performance obligations of contracts signed but not performed or not fully performed yet
was RMB0.00 at the end of the Reporting Period among which RMB0.00 was expected to be recognized in zero year RMB0.00
in zero year and RMB0.00 in zero year.Significant contract changes or significant transaction price adjustments
Unit: RMB
Item Accounting treatment Amount of impact on revenue
N/A
Other notes:
N/A
5. Investment Income
Unit: RMB
Item Reporting Period Same period of last year
Income from long-term equity
investments accounted for using cost 30952934.00 1040756757.00
method
Income from long-term equity
investments accounted for using equity -32402599.00 -224688237.00
method
Investment income from disposal of
0.00-6486678.00
long-term equity investments
Investment income arising from holding
0.0051816984.00
of trading financial assets
Investment income from disposal of
0.000.00
financial assets held for trading
Dividend income received from holding
0.000.00
of other equity instrument investment
Gain from re-measurement of remaining
equity interests to fair value upon the 0.00 0.00
loss of control
Interest income of investment in debt
0.000.00
obligations during holding period
Interest income of investment in other
0.000.00
debt obligations during holding period
Investment income from disposal of
0.000.00
investment in other debt obligations
Total -1449665.00 861398826.00
6. Others
N/A
246BOE Technology Group Co. Ltd. Interim Report 2025
XVIII. Supplementary Materials
1. Items and Amounts of Non-recurring Profit or Loss
□Applicable □ Not applicable
Unit: RMB
Item Amount Note
Gains/losses on the disposal of non-current assets 519913169.00 N/A
Government grants recognized in the current period (except for
government grants closely related to the Company’s normal operating
business in compliance with national policies and in accordance with 696943132.00 N/A
defined criteria and having a continuous impact on the Company’s profit
or loss)
Gains or losses arising from changes in fair value of financial assets and
financial liabilities held by non-financial enterprises and gains or losses
arising from the disposal of financial assets and financial liabilities other 88554525.00 N/A
than effective hedging business related to the Company’s normal
operating business
Capital occupation charges on non-financial enterprises that are recorded
0.00 N/A
into current profit or loss
Gain or loss on assets entrusted to other entities for investment or
0.00 N/A
management
Gain or loss on loan entrustments 0.00 N/A
Asset losses due to acts of God such as natural disasters 0.00 N/A
Reversed portions of impairment allowances for accounts receivable
229820.00 N/A
which are tested individually for impairment
Gain equal to the amount by which investment costs for the Company to
obtain subsidiaries associates and joint ventures are lower than the
0.00 N/A
Company’s enjoyable fair value of identifiable net assets of investees
when making investments
Net profit or loss for the period from the beginning of the period to the
date of consolidation of a subsidiary arising from a business combination 0.00 N/A
under common control
Gain or loss on non-monetary asset swaps 0.00 N/A
Gain or loss on debt restructuring 0.00 N/A
One-time costs incurred by the enterprise due to the fact that the relevant
business activities are no longer continuing such as expenses for staff 0.00 N/A
arrangements
One-time effect on current profit or loss due to adjustments in taxation
0.00 N/A
accounting and other laws and regulations
One-time share-based payment expense recognized for cancellation and
0.00 N/A
modification of equity incentive plans
For cash-settled share-based payments gain or loss arising from changes
in the fair value of employee compensation payable after the date of 0.00 N/A
exercise of options
Gain or loss on fair-value changes in investment property of which
0.00 N/A
subsequent measurement is carried out using the fair value method
Income from transaction at obviously unfair trade prices 0.00 N/A
Gain or loss on contingencies that do not arise in the Company’s ordinary 0.00 N/A
247BOE Technology Group Co. Ltd. Interim Report 2025
course of business
Custodian fees earned from entrusted operation 0.00 N/A
Other non-operating income and expenses besides items above 122700862.00 N/A
Other items qualified as extraordinary gain and loss 0.00 N/A
Less: Income tax effects 289306037.00 N/A
Non-controlling interests effects (after tax) 174386223.00 N/A
Total 964649248.00 --
Others that meet the definition of non-recurring gain/loss:
□Applicable □Not applicable
No such cases in the Reporting Period.Explain the reasons if the Company classifies any extraordinary gain/loss item mentioned in the Explanatory Announcement No. 1
on Information Disclosure for Companies Offering Their Securities to the Public—Non-recurring Gains and Losses as a recurrent
gain/loss item
□Applicable □Not applicable
2. Return on Equity and Earnings Per Share
EPS (Yuan/share)
Weighted average return on
Profit as of Reporting Period
net assets Basic earnings per share Diluted earnings per share
(RMB/share) (RMB/share)
Net profit attributable to the
Company’s ordinary equity 2.45% 0.09 0.09
shareholders
Net profit excluding extraordinary
gain and loss attributable to the
1.72%0.060.06
Company’s ordinary equity
shareholders
3. Accounting Data Differences under PRC GAAP and Those under IFRSs
(1) Differences of Net Profit and Net Assets Disclosed in Financial Reports Prepared under International
and Chinese Accounting Standards
□Applicable□Not applicable
(2) Differences of Net profit and Net Assets Disclosed in Financial Reports Prepared under Overseas and
Chinese Accounting Standards
□Applicable□Not applicable
(3) Explain Reasons for the Differences between Accounting Data Under Domestic and Overseas
Accounting Standards; for Any Adjustment Made to the Difference Existing in the Data Audited by the
Foreign Auditing Agent Such Foreign Auditing Agent's Name Shall Be Clearly Stated.
4. Others
N/A
248BOE Technology Group Co. Ltd. Interim Report 2025
Part IX Other Reported Information
I Other Major Social Security Issues
Are there any other major social security issues involving the listed company and its subsidiaries
□ Yes □ No□ Not applicable
Whether subject to administrative penalties during the Reporting Period
□ Yes □ No□ Not applicable
II Communications with the Investment Community such as Researches Inquiries and
Interviews
□Applicable □ Not applicable
Way of Type of the Main discussions and Index to the
Communication
Date Place communica communica materials provided by relevant
party
tion tion party the Company information
China Asset
Main discussions:
7 January 2025 BOE Core On-site ManagementInstitution Answered questions
Competence Tower visit Guolian
from investors.Securities
E Fund
Management Main discussions:
China Universal 1. 2024 performance
21 January 2025 BOE Core On-site Institution Asset forecast;
Competence Tower visit
Management 2. Answered questions
Guosen from investors.Securities
23 January 2025 CPIC IndustrialConference call By phone Institution
Securities
23 January 2025 BOE Technology On-site New ChinaInstitution
Innovation Center visit Asset
Guosen
Wuhan BOE
13 February 2025 On-site Securities and 9Optoelectronics Institution
visit other www.cninfo.co
Technology Co. Ltd.institutions m.cn
Main discussions:
18 February 2025 BOE Core On-site OrientInstitution Answered questions
Competence Tower visit Securities from investors.Fullgoal Fund
19 February 2025 GuolianConference call By phone Institution
Minsheng
Securities
Yinhua Fund
13 March 2025 BOE Core On-site GuolianInstitution
Competence Tower visit Minsheng
Securities
Investors
attending BOE's Main discussions:
22 April 2025 http://rs.p5w.net/ Other Other 2024 Annual Answered questions
Results Online from investors.Briefing
22 April 2025 Aspex Main discussions:Conference call By phone Institution
Management 1. Industry and market
249BOE Technology Group Co. Ltd. Interim Report 2025
(HK) Limited overview;
and 140 other 2. The Company’s
institutions operating results;
3. Performance
interpretation;
4. Shareholder
returns;
5. Answered questions
from investors.China Securities
21 May 2025 BOE Core On-site Institution and 5 other
Competence Tower visit
institutions
ICBC Credit
26 May 2025 BOE Core On-site Institution Suisse Asset
Competence Tower visit
Management Main discussions:
3 June 2025 BOE Technology On-site Answered questionsInstitution Harvest Fund
Innovation Center visit from investors.Foresight Fund
10 June 2025 BOE Technology On-site Institution Huatai
Innovation Center visit
Securities
27 June 2025 BOE Core On-site Institution GIC
Competence Tower visit
III Financial Transactions between the Listed Company and its Controlling Shareholders
and Other Related Parties
□Applicable□ Not applicable
250
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