FIRST QUARTERLY REPORT 2022

April 2022BOE Technology Group Co. Ltd. First Quarterly Report 2022

Stock Code: 000725 Stock Name: BOE-A Announcement No. 2022-039

Stock Code: 200725 Stock Name: BOE-B Announcement No. 2022-039

BOE TECHNOLOGY GROUP CO. LTD.FIRST QUARTERLY REPORT 2022

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

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

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

statements or material omissions.Important Notes:

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

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

guarantee the factuality accuracy and completeness of the contents of this Report and its summary and shall

be jointly and severally liable for any misrepresentations misleading statements or material omissions therein.All the Company’s directors have attended the Board meeting for the review of this Report and its summary.Mr. Chen Yanshun the Company’s legal representative Mr. Liu Xiaodong President of the Company Ms.Sun Yun the Company’s Chief Financial Officer and Ms. Yang Xiaoping head of the Company’s financial

department (equivalent to financial manager) hereby guarantee that the Financial Statements carried in this

Report are factual accurate and complete.This Report has been prepared in both Chinese and English. Should there be any discrepancies or

misunderstandings between the two versions the Chinese version shall prevail.The financial statements in this Report have not been audited by an independent auditor.

1BOE Technology Group Co. Ltd. First Quarterly Report 2022

I Key Financial Information

(I) Key Accounting Data and Financial Indicators

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

Reason for any retrospectively adjustment or restatement

Changes of accounting policies

Q1 2021 Change (%)

Item Q1 2022

Before After After

Operating revenue (RMB) 50475809458.00 49655379519.00 50275246475.00 0.40%

Net profit attributable to the listed

4388727184.005182037171.005260529397.00-16.57%

company’s shareholders (RMB)

Net profit attributable to the listed

company’s shareholders before exceptional 3511402963.00 4484934082.00 4563426308.00 -23.05%

items (RMB)

Net cash generated from/used in operating

14755368710.0014522832708.0014565287236.001.31%

activities (RMB)

Basic earnings per share (RMB/share) 0.113 0.147 0.149 -24.16%

Diluted earnings per share (RMB/share) 0.113 0.147 0.149 -24.16%

Weighted average return on equity (%) 3.25% 5.51% 5.59% -2.34%

31 December 2021 Change (%)

Item 31 March 2022

Before After After

Total assets (RMB) 457064241891.00 4 4 9726980355.00 450232603405.00 1.52%

Equity attributable to the listed company’s

149310730085.00142925547899.00143086216558.004.35%

shareholders (RMB)

Reason for accounting policy change and correction of accounting error:

As required by the Q&A on the Implementation of Fixed Assets Standards and the Interpretation of Accounting Standards for

Business Enterprises No. 15 issued by the Ministry of Finance the Group retrospectively adjusted related items of financial

statements of the beginning of the year and those of the same period of last year. The above changes of accounting policies have

no significant influence on the Company’s financial status and operating results.(II) Exceptional Gains and Losses

√ Applicable □ Not applicable

Unit: RMB

Item Q1 2022 Note

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

231829.00 N/A

write-offs)

Tax rebates reductions and exemptions with ultra vires approval or in lack of duly

0.00 N/A

approved document

Government grants through profit or loss (exclusive of government grants continuously

given in the Company’s ordinary course of business at fixed quotas or amounts as per the 1078316948.00 N/A

government’s policies and standards)

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

0.00 N/A

and losses

Income equal to the amount by which investment costs for the Company to obtain

subsidiaries associates and joint ventures are lower than the Company’s enjoyable fair 0.00 N/A

value of identifiable net assets of investees when making investments

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

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

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

Gains and losses on debt restructuring 0.00 N/A

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

2BOE Technology Group Co. Ltd. First Quarterly Report 2022

Gains and losses on over-fair value amount as a result of transactions with distinctly unfair

0.00 N/A

prices

Current gains and losses on subsidiaries acquired through business mergers under same

0.00 N/A

control from period-beginning to merger dates net

Gains and losses on contingencies that do not arise in the Company’s ordinary course of

0.00 N/A

business

Gain or loss on fair-value changes in held-for-trading financial assets and liabilities &

investment income from disposal of held-for-trading financial assets and liabilities and

61783623.00 N/A

available-for-sale financial assets (exclusive of effective portion of hedges that arise in the

Company’s ordinary course of business)

Reversed portion of impairment allowance for accounts receivable which are tested

16068217.00 N/A

individually for impairment

Gains and losses on loan entrustment 0.00 N/A

Gains and losses on fair value changes in investment property of which subsequent

0.00 N/A

measurement is carried out using fair value method

Effects of all adjustments required by taxation accounting and other applicable laws and

0.00 N/A

regulations on current gains and losses

Income from charges on entrusted management 0.00 N/A

Non-operating income and expense other than above 16795674.00 N/A

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

Less: Income tax effects 34329499.00 N/A

Non-controlling interests effects (net of tax) 261542571.00 N/A

Total 877324221.00 --

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

□ Applicable √ Not applicable

No such cases in the Reporting Period.Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item listed in the Explanatory Announcement

No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Gain/Loss Items:

□ Applicable √ Not applicable

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

√ Applicable □ Not applicable

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

1. Selling expenses increased by 31% year-on-year mainly due to the corresponding increase in the company's market

development.

2. Finance costs declined 34% during Q1 2022 compared to Q1 2021 primarily driven by the decreased interest expense as a

result of the repayment of some bank loans.

3. Other income rose 73% during Q1 2022 compared to Q1 2021 primarily driven by the increased government grants during

the Reporting Period.

4. Return on investment rose 2706% during Q1 2022 compared to Q1 2021 primarily driven by the increased returns recognized

on investments in associates during the Reporting Period.

5. Gain on changes in fair value rose 91% during Q1 2022 compared to Q1 2021 primarily driven by the increased gains on

investments in wealth management products during the Reporting Period.Changes in key line items of the cash flow statement and explanation of why:

1. Net cash used in investing activities declined 61% during Q1 2022 compared to Q1 2021 primarily driven by the decreased

expenditures on new project construction etc. during the Reporting Period.II Shareholder Information

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

well as Holdings of Top 10 Shareholders

3BOE Technology Group Co. Ltd. First Quarterly Report 2022

Unit: share

Number of ordinary shareholders 1645844 (including 1608385 A-shareholders and 37459 B-shareholders)

Top 10 shareholders

Shares in pledge

Nature of Shareholding Total shares Restricted

Name of shareholder marked or frozen

shareholder percentage held shares

Status Shares

Beijing State-owned Capital Operation and State-owned

10.57% 4063333333 0 N/A 0

Management Company Limited legal person

Foreign legal

Hong Kong Securities Clearing Company Ltd. 4.21% 1618569408 0 N/A 0

person

Beijing BOE Investment & Development Co. State-owned

2.14% 822092180 0 N/A 0

Ltd. legal person

Beijing Jing Guorui Soe Reform and

Other 1.87% 718132854 718132854 N/A 0

Development Fund (L.P.)

State-owned

Hefei Jianxiang Investment Co. Ltd. 1.73% 666195772 0 N/A 0

legal person

Domestic

Fuqing Huirong Venture Capital Group Co.non-state-owned 1.40% 538599640 0 N/A 0

Ltd.legal person

Chongqing Ezcapital Opto-electronic Industry State-owned

0.85% 326229746 0 N/A 0

Investment Co. Ltd. legal person

Sinatay Life Insurance Co. Ltd.-Traditional

Other 0.79% 305330128 0 N/A 0

Product

State-owned

Beijing Yizhuang Investment Holdings Co. Ltd 0.73% 281295832 0 N/A 0

legal person

State-owned

Beijing Electronics Holdings Co. Ltd. 0.71% 273735583 0 N/A 0

legal person

Top 10 unrestricted shareholders

Shares by type

Name of shareholder Unrestricted shares held

Type Shares

Beijing State-owned Capital Operation and RMB-denominated

40633333334063333333

Management Company Limited ordinary share

RMB-denominated

Hong Kong Securities Clearing Company Ltd. 1618569408 1618569408

ordinary share

Beijing BOE Investment & Development Co. RMB-denominated

822092180822092180

Ltd. ordinary share

RMB-denominated

Hefei Jianxiang Investment Co. Ltd. 666195772 666195772

ordinary share

Fuqing Huirong Venture Capital Group Co. RMB-denominated

538599640538599640

Ltd. ordinary share

Chongqing Ezcapital Opto-electronic Industry RMB-denominated

326229746326229746

Investment Co. Ltd. ordinary share

Sinatay Life Insurance Co. Ltd.-Traditional RMB-denominated

305330128305330128

Product ordinary share

RMB-denominated

Beijing Yizhuang Investment Holdings Co. Ltd 281295832 281295832

ordinary share

RMB-denominated

Beijing Electronics Holdings Co. Ltd. 273735583 273735583

ordinary share

Caitong Fund-PSBC-Caitong Fund-Yuquan

RMB-denominated

Bohai Life Insurance No.1 Asset Management 179533214 179533214

ordinary share

Plan

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

100% equities of Beijing Electronics Holdings Co. Ltd.

Related or acting-in-concert parties among the

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

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

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

4BOE Technology Group Co. Ltd. First Quarterly Report 2022

and Chongqing Ezcapital Opto-electronic Industry Investment Co. Ltd. by entering

into Implementation Protocol of Voting Right respectively agreed to maintain all of

the shares held by them respectively unanimous with Beijing BOE Investment &

Development Co. Ltd. when executing the voting rights of the shareholders.

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

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

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

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

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

which the rest 30% voting right maintained unanimous with Beijing Electronics

Holdings Co. Ltd. through the agreement according to Implementation Protocol of

Voting Right.

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

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

Beijing Electronics Holdings Co. Ltd.

6. Beijing State-owned Capital Operation and Management Company Limited

indirectly held 100% equities of Beijing Jingguorui Investment Management Co.Ltd. and directly held 77.5918% shares of Beijing Jing Guorui Soe Reform and

Development Fund (L.P.); Beijing Jingguorui Investment Management Co. Ltd. is

the general partner of Beijing Jing Guorui Soe Reform and Development Fund (L.P.).In addition among the nine members of the Investment Decision-Making Committee

of Beijing Jing Guorui Soe Reform and Development Fund (L.P.) three are

nominated by Beijing State-owned Capital Operation and Management Company

Limited.

7. Except for the above relationships the Company does not know any other

connected party or acting-in-concert party among the top 10 shareholders.Top 10 ordinary shareholders involved in

N/A

securities margin trading

Note: As of the end of the Reporting Period among the Top 10 shareholders the special securities account of the Company for

repurchase held 528186052 shares accounting for 1.37%.(II) Number of Preference Shareholders and Shareholdings of Top 10 of Them

□ Applicable √ Not applicable

III Other Significant Events

√ Applicable □ Not applicable

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

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

Approval from CSRC. Based on the approval the Company could publicly issue the renewable corporate bonds with the

nominal value no more than RMB30 billion to qualified investors. The Company publicly issued renewable corporate bonds (to

qualified investors) (the first issue) (epidemic prevention and control bonds) (“20BOEY1” for short; Code: 149046) in 2020

with the issue term from 27 February 2020 to 28 February 2020. The Company publicly issued the renewable corporate bonds

(to qualified investors) (the second issue) (epidemic prevention and control bonds) (“20BOEY2” for short; Code: 149065) in

2020 with the issue term from 18 March 2020 to 19 March 2020. The Company publicly issued the renewable corporate bonds

(to qualified investors) (the third issue) (epidemic prevention and control bonds) (“20BOEY3” for short; Code: 149108) in 2020

with the issue term from 24 April 2020 to 27 April 2020. The Company disclosed 2022 "20BOEY1" Interest Payment

Announcement (Announcement No. 2022-006) on 24 February 2022. The interest payment plan was RMB36.40 (including tax)

every ten bonds. The Company disclosed 2022 "20BOEY2" Interest Payment Announcement (Announcement No. 2022-013) on

17 March 2022. The interest payment plan was RMB35.40 (including tax) per ten bonds. The Company publicly issued

renewable corporate bonds (digital economy) to professional investors (the first issue) (“22BOEY1” for short; Code: 149861) in

2022 with the issue term from 24 March 2022 to 25 March 2022 the issuing scale of RMB2 billion and the bonds’ ultimate

nominal interest rate of 3.50%. The Company disclosed 2022 "20BOEY3" Interest Payment Announcement (Announcement No.

2022-037) on 23 April 2022. The interest payment plan was RMB35.00 (including tax) per ten bonds.

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

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

announcements in which the Company intends to make a non-public offering of A-shares to no more than 35 specific investors

including Jing Guorui Fund. The net fund raised was expected to be no more than 20 billion. On 19 August 2021 the Company

disclosed the Report on the Non-public Offering of A-shares by BOE Technology Group Co. Ltd. & the Announcement on the

Listing of these Shares (announcement No. 2021-058) along with other relevant announcements. 3650377019 new shares were

issued in the non-public offering which were listed on the Shenzhen Stock Exchange on 20 August 2021. On 18 February 2022

the Company disclosed the Suggestive Announcement on Relieving Restricted Non-publicly Offered A Shares in 2021

(Announcement No.: 2022-005). On 21 February 2022 2932244165 restricted shares of non-publicly offered A shares in 2021

5BOE Technology Group Co. Ltd. First Quarterly Report 2022

were relieved and could be traded in the market. The number of the relieved restricted shares accounted for 8.5058% of

non-restricted shares of the Company and 7.6270% of the total share capital of the Company.

3. Following the approval of the Proposal on the Repurchase of Some Public Shares at the 31st Meeting of the 9th Board of

Directors the Company disclosed the Announcement No. 2021-067 on the Repurchase of Some Public Shares on 31 August 2021.The Company carried out the first repurchase on 2 September 2021 and disclosed the Announcement No. 2021-077 on the First

Repurchase of Some Public Shares on 3 September 2021. On 2 March 2022 the Company disclosed the Announcement on the

Completed Implementation of Share Repurchase Programme and Repurchase Implementation Results (Announcement No.:

2022-007). As at 28 February 2022 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 499999919 accounting for approximately 1.3330% of the Company's A Shares and 1.3005% of the Company's total share

capital with the highest transaction price of RMB5.96 per share and the lowest transaction price of RMB4.68 per share. The total

amount paid was RMB2620105418.52 (including other fixed expenses such as commissions). The above repurchase of the

Company was in line with the requirements of relevant laws and regulations as well as the established repurchase programme of

the Company. The total fund of this share repurchase didn't exceed the amount proposed to be used in the repurchase programme

and the number of shares repurchased has reached the cap of shares under the repurchase programme. So far this share repurchase

has been implemented and completed as planned.

4. The Company has disclosed the Indicative Announcement on the General Election of the Board of Directors (Announcement

No.: 2022-008) and the Indicative Announcement on the General Election of the Supervisory Committee (Announcement No.:

2022-009) on 2 March 2022 and convened the 39th Meeting of the 9th Board of Directors and the 16th Meeting of the 9th

Supervisory Committee on 30 March 2022 reviewing and approving proposals related to the general election. For more details

please refer to related announcements.Overview of significant event Disclosure date Disclosure website

Announcement on Related-party Transactions regarding the Capital

15 March 2022 www.cninfo.com.cn

Increase in Tianjin Xianzhilian Investment Centre (Limited Partnership)

IV Quarterly Financial Statements

(I) Financial Statements

1. Consolidated Balance Sheet

Prepared by BOE Technology Group Co. Ltd.Unit: RMB

Item 31 March 2022 31 December 2021

Current assets:

Monetary assets 91436348757.00 80986835088.00

Settlement reserve 0.00 0.00

Loans to other banks and financial institutions 0.00 0.00

Held-for-trading financial assets 8939174385.00 10028172853.00

Derivative financial assets 0.00 0.00

Notes receivable 254132199.00 217734298.00

Accounts receivable 32640867099.00 35503414820.00

Receivables financing 0.00 0.00

Prepayments 1227680594.00 1112880007.00

Premiums receivable 0.00 0.00

Reinsurance receivables 0.00 0.00

Receivable reinsurance contract reserve 0.00 0.00

Other receivables 1633752335.00 1922828378.00

Including: Interest receivable 373076.00 0.00

Dividends receivable 0.00 2414503.00

Financial assets purchased under resale agreements 0.00 0.00

Inventories 30513074522.00 27805161436.00

Contract assets 79972798.00 75698324.00

Assets held for sale 0.00 0.00

6BOE Technology Group Co. Ltd. First Quarterly Report 2022

Current portion of non-current assets 7977244.00 7700735.00

Other current assets 4372823495.00 3578919710.00

Total current assets 171105803428.00 161239345649.00

Non-current assets:

Loans and advances to customers 0.00 0.00

Debt investments 0.00 0.00

Other debt investments 0.00 0.00

Long-term receivables 27469739.00 29918542.00

Long-term equity investments 6234927253.00 6040948317.00

Investments in other equity instruments 538386832.00 519088146.00

Other non-current financial assets 606895447.00 606895447.00

Investment property 1147892694.00 1158365401.00

Fixed assets 220663509732.00 227141366885.00

Construction in progress 35282157712.00 32099711879.00

Productive living assets 0.00 0.00

Oil and gas assets 0.00 0.00

Right-of-use assets 818555025.00 753164237.00

Intangible assets 10965363725.00 11209498406.00

Development costs 0.00 0.00

Goodwill 1130006987.00 1130006987.00

Long-term prepaid expense 602853236.00 636530502.00

Deferred income tax assets 186970015.00 190335524.00

Other non-current assets 7753450066.00 7477427483.00

Total non-current assets 285958438463.00 288993257756.00

Total assets 457064241891.00 450232603405.00

Current liabilities:

Short-term borrowings 3251018316.00 2072057332.00

Borrowings from the central bank 0.00 0.00

Loans from other banks and financial institutions 0.00 0.00

Held-for-trading financial liabilities 0.00 0.00

Derivative financial liabilities 0.00 0.00

Notes payable 496011302.00 827958031.00

Accounts payable 35963435756.00 32455830694.00

Advances from customers 131373866.00 146140084.00

Contract liabilities 3403827561.00 3765081554.00

Financial assets sold under repurchase agreements 0.00 0.00

Customer deposits and deposits from other banks and financial

0.000.00

institutions

Payables for acting trading of securities 0.00 0.00

Payables for underwriting of securities 0.00 0.00

Employee benefits payable 3288826039.00 5133155237.00

Taxes and levies payable 2006965888.00 2200249305.00

Other payables 22525577032.00 23835374942.00

Including: Interest payable 132742.00 126701.00

Dividends payable 47489124.00 6561972.00

Fees and commissions payable 0.00 0.00

Reinsurance payables 0.00 0.00

Liabilities directly associated with assets held for sale 0.00 0.00

7BOE Technology Group Co. Ltd. First Quarterly Report 2022

Current portion of non-current liabilities 29600021863.00 28874958714.00

Other current liabilities 4355045910.00 4051532509.00

Total current liabilities 105022103533.00 103362338402.00

Non-current liabilities:

Insurance contract reserve 0.00 0.00

Long-term borrowings 114905035601.00 116078666587.00

Bonds payable 356266922.00 359586437.00

Including: Preference shares 0.00 0.00

Perpetual bonds 0.00 0.00

Lease liabilities 750713346.00 669130264.00

Long-term payables 838775810.00 906592838.00

Long-term employee benefits payable 0.00 0.00

Provisions 0.00 0.00

Deferred income 7562992795.00 6416089611.00

Deferred income tax liabilities 1609263577.00 1525622873.00

Other non-current liabilities 3098148335.00 3535809876.00

Total non-current liabilities 129121196386.00 129491498486.00

Total liabilities 234143299919.00 232853836888.00

Owners’ equity:

Share capital 38445746482.00 38445746482.00

Other equity instruments 16136312495.00 14146997427.00

Including: Preference shares 0.00 0.00

Perpetual bonds 16136312495.00 14146997427.00

Capital reserves 53961853431.00 53804309393.00

Less: Treasury stock 3607870206.00 3415768207.00

Other comprehensive income 127495451.00 113551147.00

Specific reserve 0.00 0.00

Surplus reserves 2889590205.00 2889590205.00

General reserve 0.00 0.00

Retained earnings 41357602227.00 37101790111.00

Total equity attributable to owners of the Company as the parent 149310730085.00 143086216558.00

Non-controlling interests 73610211887.00 74292549959.00

Total owners’ equity 222920941972.00 217378766517.00

Total liabilities and owners’ equity 457064241891.00 450232603405.00

Legal representative: Chen Yanshun President of the Company’s Execution Committee: Liu Xiaodong

Chief Financial Officer: Sun Yun Head of the Company’s Financial Department: Yang Xiaoping

2. Consolidated Income Statement

Unit: RMB

Item Q1 2022 Q1 2021

1. Revenues 50475809458.00 50275246475.00

Including: Operating revenue 50475809458.00 50275246475.00

Interest income 0.00 0.00

Insurance premium income 0.00 0.00

Fee and commission income 0.00 0.00

2. Costs and expenses 46115162970.00 42386221496.00

8BOE Technology Group Co. Ltd. First Quarterly Report 2022

Including: Cost of sales 39684611253.00 36503164071.00

Interest expense 0.00 0.00

Fee and commission expense 0.00 0.00

Surrenders 0.00 0.00

Net insurance claims paid 0.00 0.00

Net amount provided as insurance contract reserve 0.00 0.00

Expenditure on policy dividends 0.00 0.00

Reinsurance premium expense 0.00 0.00

Taxes and levies 330652660.00 441746948.00

Selling expense 1287186541.00 979913793.00

Administrative expense 1519761605.00 1516010667.00

R&D expense 2806213073.00 2212994970.00

Finance costs 486737838.00 732391047.00

Including: Interest expense 867262005.00 1102678393.00

Interest income 283152157.00 212662119.00

Add: Other income 1094340931.00 633790180.00

Return on investment (“-” for loss) 117605433.00 4191862.00

Including: Share of profit or loss of joint ventures and

97835782.00-1651195.00

associates

Income from the derecognition of financial assets at

0.000.00

amortized cost (“-” for loss)

Exchange gain (“-” for loss) 0.00 0.00

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

Gain on changes in fair value (“-” for loss) 46893075.00 24615626.00

Credit impairment loss (“-” for loss) -12689672.00 -1728887.00

Asset impairment loss (“-” for loss) -1356086452.00 -1259128818.00

Asset disposal income (“-” for loss) -16896.00 150606678.00

3. Operating profit (“-” for loss) 4250692907.00 7441371620.00

Add: Non-operating income 21307453.00 20465222.00

Less: Non-operating expense 4263055.00 1760338.00

4. Gross profit (“-” for loss) 4267737305.00 7460076504.00

Less: Income tax expense 1042650624.00 924524817.00

5. Net profit (“-” for net loss) 3225086681.00 6535551687.00

5.1 By operating continuity

5.1.1 Net profit from continuing operations (“-” for net loss) 3225086681.00 6535551687.00

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

0.000.00

loss)

5.2 By ownership

5.2.1 Net profit attributable to owners of the Company as

4388727184.005260529397.00

the parent

5.2.1 Net profit attributable to non-controlling interests -1163640503.00 1275022290.00

6. Other comprehensive income net of tax -27966654.00 81021763.00

Attributable to owners of the Company as the parent 13944304.00 89795839.00

6.1 Items that will not be reclassified to profit or loss 17430815.00 -1357488.00

6.1.1 Changes caused by remeasurements on defined

0.000.00

benefit schemes

6.1.2 Other comprehensive income that will not be

0.000.00

reclassified to profit or loss under the equity method

6.1.3 Changes in the fair value of investments in other

17430815.00-1357488.00

equity instruments

6.1.4 Changes in the fair value arising from changes in

0.000.00

own credit risk

9BOE Technology Group Co. Ltd. First Quarterly Report 2022

6.1.5 Other 0.00 0.00

6.2 Items that will be reclassified to profit or loss -3486511.00 91153327.00

6.2.1 Other comprehensive income that will be

0.000.00

reclassified to profit or loss under the equity method

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

6.2.3 Other comprehensive income arising from the

0.000.00

reclassification of financial assets

6.2.4 Credit impairment allowance for other debt

0.000.00

investments

6.2.5 Reserve for cash flow hedges 0.00 0.00

6.2.6 Differences arising from the translation of foreign

-3486511.0091153327.00

currency-denominated financial statements

6.2.7 Other 0.00 0.00

Attributable to non-controlling interests -41910958.00 -8774076.00

7. Total comprehensive income 3197120027.00 6616573450.00

Attributable to owners of the Company as the parent 4402671488.00 5350325236.00

Attributable to non-controlling interests -1205551461.00 1266248214.00

8. Earnings per share

8.1 Basic earnings per share 0.113 0.149

8.2 Diluted earnings per share 0.113 0.149

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

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

Chief Financial Officer: Sun Yun Head of the Company’s Financial Department: Yang Xiaoping

3. Consolidated Cash Flow Statement

Unit: RMB

Item Q1 2022 Q1 2021

1. Cash flows from operating activities:

Proceeds from sale of commodities and rendering of services 53193351085.00 45271895773.00

Net increase in customer deposits and deposits from other

0.000.00

banks and financial institutions

Net increase in borrowings from the central bank 0.00 0.00

Net increase in loans from other financial institutions 0.00 0.00

Premiums received on original insurance contracts 0.00 0.00

Net proceeds from reinsurance 0.00 0.00

Net increase in deposits and investments of policy holders 0.00 0.00

Interest fees and commissions received 0.00 0.00

Net increase in loans from other banks and financial

0.000.00

institutions

Net increase in proceeds from repurchase transactions 0.00 0.00

Net proceeds from acting trading of securities 0.00 0.00

Tax and levy rebates 2472173743.00 3313056369.00

Cash generated from other operating activities 3471152956.00 2404235560.00

Subtotal of cash generated from operating activities 59136677784.00 50989187702.00

Payments for commodities and services 33048052229.00 27945824119.00

Net increase in loans and advances to customers 0.00 0.00

Net increase in deposits in the central bank and other banks

0.000.00

and financial institutions

Payments for claims on original insurance contracts 0.00 0.00

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

10BOE Technology Group Co. Ltd. First Quarterly Report 2022

Interest fees and commissions paid 0.00 0.00

Policy dividends paid 0.00 0.00

Cash paid to and for employees 6289071717.00 5234398791.00

Taxes and levies paid 3330582091.00 1591889266.00

Cash used in other operating activities 1713603037.00 1651788290.00

Subtotal of cash used in operating activities 44381309074.00 36423900466.00

Net cash generated from/used in operating activities 14755368710.00 14565287236.00

2. Cash flows from investing activities:

Proceeds from disinvestment 13709979844.00 6945083730.00

Return on investment 49787931.00 38345717.00

Net proceeds from the disposal of fixed assets intangible

1961256.0028883902.00

assets and other long-lived assets

Net proceeds from the disposal of subsidiaries and other

0.000.00

business units

Cash generated from other investing activities 483998970.00 345469057.00

Subtotal of cash generated from investing activities 14245728001.00 7357782406.00

Payments for the acquisition of fixed assets intangible assets

7192075500.0012860450056.00

and other long-lived assets

Payments for investments 12725853914.00 13093098515.00

Net increase in pledged loans granted 0.00 0.00

Net payments for the acquisition of subsidiaries and other

0.000.00

business units

Cash used in other investing activities 1641148452.00 120044162.00

Subtotal of cash used in investing activities 21559077866.00 26073592733.00

Net cash generated from/used in investing activities -7313349865.00 -18715810327.00

3. Cash flows from financing activities:

Capital contributions received 550000000.00 4412784000.00

Including: Capital contributions by non-controlling interests

550000000.004412784000.00

to subsidiaries

Borrowings received 13149138371.00 11174149007.00

Cash generated from other financing activities 295482.00 459334021.00

Subtotal of cash generated from financing activities 13699433853.00 16046267028.00

Repayment of borrowings 9848275263.00 12067500252.00

Interest and dividends paid 1524112902.00 1870277309.00

Including: Dividends paid by subsidiaries to non-controlling

0.000.00

interests

Cash used in other financing activities 593623351.00 403063436.00

Subtotal of cash used in financing activities 11966011516.00 14340840997.00

Net cash generated from/used in financing activities 1733422337.00 1705426031.00

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

122409685.00171780599.00

equivalents

5. Net increase in cash and cash equivalents 9297850867.00 -2273316461.00

Add: Cash and cash equivalents beginning of the period 76623486083.00 68064736371.00

6. Cash and cash equivalents end of the period 85921336950.00 65791419910.00

(II) Independent Auditor’s Report

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

These financial statements have not been audited by such an auditor.

11BOE Technology Group Co. Ltd. First Quarterly Report 2022

BOE Technology Group Co. Ltd.Board of Directors

27 April 2022

12