京东方Ｂ：第一季度报告全文（英文版） .ppt

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1、-,BOE TECHNOLOGY GROUP CO.,LTD.REPORT FOR THE FIRST QUARTER OF 20121 Important Notice1.1 The Board of Directors,the Supervisory Committee,as well as directors,supervisors and senior executives of BOE Technology Group Co.,Ltd.(hereinafterreferred to as“the Company”)guarantee that this report does not

2、 contain any falseinformation,misleading statement or material omission and will take individualand/or joint liabilities for the factuality,accuracy and completeness of this report.1.2 Financial statements for the first quarter of 2012 have not been audited by anaccounting firm.1.3 Mr.Wang Dongsheng

3、,Chairman of the Board,Mr.Chen Yanshun,President ofthe Company,Ms.Sun Yun,Chief Financial Officer of the Company,as well as Ms.Yang Xiaoping who is in charge of the Planning&Financing Department,herebyconfirm that the financial statements enclosed in the quarterly report are factual andcomplete.Engl

4、ish Translation for Reference Only.Should there be any discrepancy between thetwo versions,the Chinese version shall prevail.2 Company Profile2.1 Main accounting data and financial indicesUnit:RMB Yuan,31 Mar.2012,31 Dec.2011,Increase/decrease(%),Total assets(Yuan)Owners equity attributable to share

5、holders of theCompany(Yuan)Share capital(share)Net assets per share attributable to shareholdersof the Company(Yuan/share)Gross revenue(Yuan)Net profit attributable to shareholders of theCompany(Yuan)Net cash flows from operating activities(Yuan)Net cash flows per share from operatingactivities(Yuan

6、/share)Basic EPS(Yuan/share)Diluted EPS(Yuan/share)Weighted average ROE(%),66,199,967,49425,074,364,45413,521,542,3411.85Jan.-Mar.20124,147,641,280-494,562,773-44,245,959.00-0.003-0.037-0.037-1.95%,68,769,415,646.0025,585,892,264.0013,521,542,341.001.89Jan.-Mar.20111,969,646,222.00-674,781,964.00-36

7、6,268,678.00-0.033-0.050-0.050-2.74%,-3.74%-2.00%-2.12%Increase/decrease(%)110.58%26.71%87.92%90.91%26.00%26.00%0.79%,Weighted average ROE afternon-recurring gains and losses(%),deducting,-2.13%,-2.81%,0.68%,Note:Due to the Company implemented the Plan on Capitalization of CapitalReserves in Jun.201

8、1,the basic EPS and diluted EPS for the same period of last yearshall be restated with the same range in accordance with relevant regulations.Items of non-recurring gains and lossesApplicable InapplicableUnit:RMB Yuan,Items of non-recurring gains and lossesGains and losses from disposal of non-curre

9、nt assetsGovernment subsidies recorded into current gains and losses,Amount from 1 Jan.2012to 31 Mar.2012136,303.0056,865,424.00,Notes(ifapplicable)1,-,excluding those related closely to the routine business of the Companyand continuously enjoyed by the Company at fixed amounts or ratiosaccording to

10、 state policies and regulations,Other non-operating incomes and expensesTotal,2,598,853.0059,600,580.00,2.2 Total number of shareholders and shares held by the top ten shareholders notsubject to trading moratorium at the end of the reporting periodUnit:shareTotal number of shareholders at the end of

11、 the 486,752,of which 446,254 were A-share holders and 40,498 were,reporting period,B-share holders,Shares held by the top ten shareholders not subject to trading moratorium,Full name of shareholderBeijing BOE Investment&Development Co.,Ltd.Beijing Economic-Technological Investment&Development Corp.

12、Hefei Rongke Project Investment Co.,Ltd.Beijing E-TOWN International Investment&Development Co.,Ltd.Beijing Jiahui Dexin Investment Center(limitedpartnership)Beijing Industry Development&InvestmentManagement Co.,Ltd.Beijing Electronics Holdings Co.,Ltd.Southwest Securities Co.,Ltd.Sinotrans Air Tran

13、sportationDevelopment Co.,Ltd.Ke Xiping,Shares not subject to trading moratoriumheld at the period-end860,981,080847,650,000792,000,000700,000,001600,000,000442,016,711275,303,883241,012,010120,000,00086,144,458,Type of shareRMB ordinary sharesRMB ordinary sharesRMB ordinary sharesRMB ordinary share

14、sRMB ordinary sharesRMB ordinary sharesRMB ordinary sharesRMB ordinary sharesRMB ordinary sharesRMB ordinary shares,3 Significant Events3.1 Significant changes in main accounting statement items and financial indicators aswell as reasons for these changesApplicable Non-applicable1.Notes receivable i

15、ncreased 64%over the end of last year,which was mainlybecause some receivables from customers were paid with notes.2.Interest receivable decreased 35%over the end of last year,which was mainlybecause fixed term deposits decreased.3.Other current assets increased 233%over the end of last year,which w

16、as mainlybecause the deductible amount of VAT increased.4.Other current liabilities decreased 40%over the end of last year,which was mainlybecause the product quality guarantee deposits pre-withdrawn in previous years werewritten off as the products were sold.5.Operating revenue increased 111%over t

17、he same period of last year,which wasmainly because the new project realized phasic mass production and the capacity ofproduction lines increased.6.Operating cost increased 88%over the same period of last year,which was mainlybecause the operating revenue increased.7.Selling expense increased 70%ove

18、r the same period of last year,which was mainlybecause the sales increased.8.Financial expense increased 54%over the same period of last year,which wasmainly because interest expense increased.9.Asset impairment loss increased 249%over the same period of last year,which wasmainly because the Company

19、 made impairment provisions for inventories and other2,assets according to the smaller amount between the cost and the net realizable value.10.Non-operating income increased 219%over the same period of last year,whichwas mainly because deferred income was transferred to non-operating income instages

20、 according to the progress of projects.11.Net cash flows from operating activities increased 88%over the same period oflast year,which was mainly because the product structure was adjusted and theproduction&sales increased.12.Net cash flows from investing activities increased 70%over the same period

21、 oflast year,which was mainly because the new project proceeded from the constructionstage to the operation stage and the expense on construction and equipment purchasedecreased.13.Net cash flows from financing activities decreased 87%over the same period oflast year,which was mainly because the new

22、 project proceeded from the constructionstage to the operation stage and the financing cash inflows from special borrowingsdecreased.3.2 Progress of significant events as well as their influence and solutions3.2.1 Non-standard audit opinionApplicable Inapplicable3.2.2 The Company provides funds for

23、the controlling shareholder or its relatedparties or provides external guarantees in violation of the prescribed procedureApplicable Inapplicable3.2.3 Significant contracts signed and executed concerning routine operationApplicable Inapplicable,3.2.4 OtherApplicable,Inapplicable,3.3 Fulfillment of c

24、ommitments made by the Company,its shareholders and actualcontrollerCommitments made by the Company,its directors,supervisors,senior executives,shareholders holding over 5%of the Companys shares,actual controller and otherrelated parties in the reporting period,or such commitments carried down into

25、the,reporting periodApplicable,Inapplicable,3.4 Warnings of possible losses or large-margin year-on-year change of theaccumulative net profit made during the period from the beginning of the year to theend of the next reporting period according to prediction,as well as explanations on the,reasonsApp

26、licable,Inapplicable,Business performance forecast,Loss,From the year-begin to the end Same period of lastof the next reporting period year,Increase/decrease(%),Expected accumulative netprofit(RMB Ten thousand)Basic EPS(RMB Yuan/share),-90,000-0.07,-,-80,000-0.06,-121,548-0.09,-,-,1、The prices of ma

27、in products has been rebounding a little bit but still low since thearrival of 2012;The G8.5 TFT-LCD line will cause certain losses as its capacity is still,Explanation about theperformance forecast,in the climbing period;2、the adjustment of products structure and raw materials cost control have sho

28、wnpositive results,and the marketing competitiveness of products have beensignificantly improved.It is estimated that the operation performance of the first halfyear of 2012 will continue ameliorate year-to-year.3,Daiwa,Securities,Co.,Ltd.,(China)Limited,Items,3.5 Other significant events that need

29、to be explained3.5.1 Securities investmentsApplicable Inapplicable3.5.2 Researches,interviews and visits received in the reporting periodMain discussion and,Time,Place,Way of reception,Type of visitor,Visitor,informationprovided by the,Company,9 Jan.201211 Jan.201218 Jan.20127 Feb.2012,Conference Ro

30、omof the CompanyConference Roomof the CompanyBy phoneBy phone,Field researchField researchBy phoneBy phone,InstitutionInstitutionInstitutionInstitution,Azentus CapitalLongzhongInvestment,CITICSecurities Co.,Ltd.Securities Main discussion:Co.,Ltd.,Daiwa 1.Operation of the(H.K.)Company and itsfuture d

31、evelopmentBOC International strategy;2.Current status and,YCT,Investment development trends,16 Feb.2012,By phone,By phone,Institution,Management Co.,in the industry;,Ltd.Daiwa,3.Particulars aboutSecurities the Chengdu 4.5G,24 Feb.2012,Conference Roomof the Company,Field research,Institution,Co.,Ltd.

32、,Beijing ProductionOffice of Daiwa Beijing,Line,5G,Securities Co.,Ltd.Production,Line,2 Mar.2012,By phone,By phone,Institution,Citibank Hongkong Hefei 6G Production,6 Mar.2012,By phone,By phone,Institution,Huatai Securities,Line,Beijing 8.5G,7 Mar.20128 Mar.20129 Mar.2012,Conference Roomof the Compa

33、nyConference Roomof the CompanyConference Roomof the Company,Field researchField researchField research,InstitutionInstitutionInstitution,FinoinvestmentsDacheng FundYinhua Fund,wave Production Line andOrdos 5.5GAMOLEDProduction Line;Materials provided:,Shanghai Office of,The 2010 Annual,Merrill,Lync

34、h,Report,the brochure,Securities Co.,Ltd.,of the Company and,16 Mar.2012,Ritz-Carlton Hotel,Field research,Institution,Merrill Lynch(AsiaPacific)Limited,other materialsavailable for public,Cephei capital、Mitsubishi UFJ,access,19 Mar.2012,Conference Roomof the Company,Field research,Institution,Everb

35、rightSecurities Co.,Ltd.,20 Mar.2012,By phone,By phone,Institution,SylebraManagement,Capital,3.6 Derivatives investmentsApplicable Inapplicable3.6.1 Derivatives investments held at the end of the reporting periodApplicable Inapplicable4 Attachments4.1 Balance Sheet,Prepared by BOE Technology Group C

36、o.,Ltd.,31 Mar.2012,Unit:RMB Yuan,Current Assets:,Closing balanceConsolidation The Company,Opening balanceConsolidation The Company,Monetary funds,15,956,853,365.00,2,363,021,729.00,20,325,469,116.00 3,043,542,028.00,Settlement reservesLendings to banks and otherfinancial institutions4,Transactional

37、 financial assets,Notes receivableAccounts receivableAccounts paid in advance,558,795,142.002,846,814,720.0081,254,356.00,1,700,000.0059,498,569.003,182,375.00,340,293,997.002,560,795,545.0064,799,585.00,3,863,762.0055,112,379.002,982,710.00,Premiums receivable,ReinsurancereceivableReceivablecontrac

38、t reserves,premiumsreinsurance,Interest receivableDividend receivableOther accounts receivable,67,999,851.001,750,219,654.00,13,769,911.008,204,147.00373,150,742.00,105,243,519.001,735,824,884.00,9,141,082.008,204,147.00389,156,441.00,Financial assets purchasedunder agreements to resell,Inventories,

39、2,411,386,287.00,1,583,186.00,2,116,218,705.00,1,306,051.00,Non-current assets due within1 year,Other current assets,2,320,588,059.00,37,247,919.00,696,796,503.00,28,797,744.00,Total current assets,25,993,911,434.00,2,861,358,578.00,27,945,441,854.00 3,542,106,344.00,Non-current assets:Entrusted loa

40、ns and advancesgranted,Available-for-sale financialassets,57,211,342.00,57,211,342.00,74,718,931.00,74,718,931.00,Held-to-maturity investments,Long-termreceivable,accounts,Long-term equity investment,957,524,281.00,27,655,180,335.00,958,879,205.00 27,656,535,260.00,Investing propertyFixed assetsCons

41、truction in progress,1,338,208,579.0027,695,890,805.008,528,247,537.00,181,449,349.00364,166,838.0080,222,482.00,1,340,984,989.0028,388,863,004.008,412,921,608.00,172,908,765.00393,096,085.0026,832,993.00,Engineering materialsDisposal of fixed assetsProduction biological assetsOil-gas assets,Intangi

42、ble assets,1,429,158,183.00,99,237,387.00,1,454,669,394.00,99,478,210.00,R&D expense,Goodwill,51,502,898.00,51,502,898.00,Long-term deferred expensesDeferred income tax assetsOther non-current assets,26,388,701.0049,355,084.0072,568,650.00,3,303,129.005,019,059.00,22,860,526.0047,892,088.0070,681,14

43、9.00,3,586,980.004,457,280.00,Total of non-current assetsTotal assets,40,206,056,060.0066,199,967,494.00,28,445,789,921.0031,307,148,499.00,40,823,973,792.00 28,431,614,504.0068,769,415,646.00 31,973,720,848.00,Current liabilities:,Short-term borrowings,4,896,218,228.00,6,487,193,510.00,34,663,422.0

44、0,Borrowings from CentralBankCustomer bank deposits anddue to banks and other financialinstitutionsBorrowings from banks andother financial institutions5,Transactionalliabilities,financial,Notes payable,25,093,824.00,27,918,268.00,Accounts payableAccounts received in advance,4,086,851,090.00198,423,

45、333.00,10,860,067.00286,011,140.00,3,630,464,475.00186,069,735.00,13,236,221.00287,038,716.00,Financial assets sold forrepurchase,Handling,charges,and,commissions payable,EmployeespayableTax payableInterest payable,compensation,276,466,213.0039,215,097.0081,677,753.00,36,282,915.0028,045,375.00,368,

46、442,775.0047,338,545.00110,964,115.00,61,693,468.0021,739,121.001,088,911.00,Dividend payable,6,451,170.00,6,451,170.00,6,451,170.00,6,451,170.00,Other accounts payableReinsurancepremiums,3,454,849,187.00,2,309,719,994.00,4,285,822,157.00 2,893,384,484.00,payableInsurance contract reservesPayables f

47、or acting trading ofsecurities,Payables,for,acting,underwriting of securities,Non-current liabilities duewithin 1 yearOther current liabilities,1,322,303,938.0052,978,964.00,100,000,000.00,1,716,776,716.0088,652,956.00,100,000,000.00,Total current liabilities,14,440,528,797.00,2,777,370,661.00,16,95

48、6,094,422.00 3,419,295,513.00,Non-current liabilities:,Long-term borrowings,15,426,481,985.00,100,000,000.00,14,700,018,374.00,100,000,000.00,Bonds payableLong-term payablesSpecific payables,Estimated liabilities,28,274,319.00,30,080,844.00,Deferredliabilities,income,tax,412,745,804.00,414,561,354.0

49、0,Other non-current liabilitiesTotal non-current liabilities,1,573,905,202.0017,441,407,310.00,49,700,466.00149,700,466.00,1,623,176,746.0016,767,837,318.00,60,063,972.00160,063,972.00,Total liabilitiesOwners,equity,(or,31,881,936,107.00,2,927,071,127.00,33,723,931,740.00 3,579,359,485.00,shareholde

50、rs equity),Paid-up capital(orcapital)Capital reserves,share,13,521,542,341.0015,285,441,357.00,13,521,542,341.0015,077,085,956.00,13,521,542,341.00 13,521,542,341.0015,302,948,946.00 15,094,593,545.00,Less:Treasury stockSpecific reserves,Surplus reserves,499,092,613.00,499,092,613.00,499,092,613.00,