[中报]京东方Ｂ(200725):2022年半年度报告（英文版）
原标题:京东方Ｂ:2022年半年度报告（英文版） 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. Gao Wenbao, President, Ms. Yang Xiaoping, Chief Financial Officer, and Mr. Teng Jiao, 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 when making investment decisions. For further information, see “(X) Risks Facing the Company and 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 both Chinese and English. Should there be any discrepancies or misunderstandings between the two versions, the Chinese versions shall prevail. Table of Contents Part I Important Notes, Table of Contents and Definitions ........................................................... 2 Part II Corporate Information and Key Financial Information ................................................... 6 Part III Management Discussion and Analysis ............................................................................. 10 Part IV Corporate Governance ...................................................................................................... 25 Part V Environmental and Social Responsibility .......................................................................... 28 Part VI Significant Events ............................................................................................................... 33 Part VII Share Changes and Shareholder Information ............................................................... 47 Part VIII Preferred Shares .............................................................................................................. 57 Part IX Bonds ................................................................................................................................... 58 Part X Financial Statements ........................................................................................................... 62 Documents Available for Reference (I) The financial statements signed and sealed by the Company’s legal representative, President, 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: 26August 2022 Definitions
Part II Corporate Information and Key Financial Information I Corporate 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 and email address 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 2021 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 newspapers designated by the Company for information disclosure, the website designated by the CSRC for disclosing the Company’s periodic reports and the place for keeping such reports did not change in the Reporting Period. The said information can be found in the 2021 Annual Report. 3. Other Information Indicate by tick mark whether any change occurred to other information in the Reporting Period. □ Applicable ? Not applicable IV Key Financial Information Indicate by tick mark whether there is any retrospectively restated datum in the table below. ? Yes □ No Reason for retrospective restatement: Change of accounting policy.
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. 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. VI Exceptional Gains and Losses ? Applicable □ Not applicable Unit: RMB
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 No such cases for the Reporting Period. Part III Management Discussion and Analysis I Principal Activity of the Company in the Reporting Period BOE Technology Group Co., Ltd. is an loT company providing intelligent interface products and professional services for information interaction and human health. After years of professional cultivation, the Company has developed into a global leader in the field of semiconductor display and a global innovative enterprise in the field of the Internet of Things. Based on a deep understanding of the intrinsic laws of the market and practical exploration, and in order to further enhance its value creation capability, BOE has proposed the development strategy of " Screen-Connected IoT " based on its core genes and capabilities, seizing the ubiquitous growth opportunities of "screen", and fully leveraging its core advantage of "screen" to integrate screens into more market segments and application scenarios by integrating more functions and deriving more forms. By doing so, BOE will realize the user perception revolution of "screen as terminal" in the digital era, build an industrial ecology of "screen as platform and screen as system", and reshape the value growth model. At the same time, based on the strategic design of " Screen-Connected IoT ", BOE will bring a new connotation to the "1+4+N+Ecosystem" development structure under the new development pattern. "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 transformation and 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 transformation, namely the IoT Innovation business, the Sensor and Solution business, the MLED business and the Smart Medical Engineering 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 transformation development. “Ecosystem” means the Company work with its partners by way of strategic investment, strategy cooperation, etc. to ensure the security of the business ecosystem. The Company's core businesses are summarized as follows: 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, tablet PCs, laptops, monitors, TVs, vehicle-mounted, electronic shelf label (ESL), industrial control, household medical applications, applications on wearable devices, whiteboards, tiled display screens, commercial devices, VR/AR devices, etc. 2. 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. 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 and Solution business The Sensor and Solution business offers integrated design and manufacturing services for system solutions, focuses on medical biological segment, transportation and construction, consumer electronics, microwave communications, industrial sensors and other fields, and provides customers with design and manufacturing of sensor devices and system solution services, with specific products and solutions including back plates for flat panel X-ray detectors (FPXD), digital microfluidic chips, intelligent PDLC glass and PDLC 4. MLED business MLED business renders Mini-LED backlight products with high reliability and high partition of dimming for LCD of mobile phones, tablet PCs, laptops, monitors, TVs, vehicles, wearable devices, 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. All these products are designed and manufactured in an integrated manner. 5. Smart Medical Engineering business The Smart Medical Engineering business adopts the professional service model to combine technologies with medicine and integrate medicine and engineering with innovation, so as to provide families, communities and hospitals with the four major human-centered services of health management, health technology, digital hospital, and technology services. It connects testing equipment, healthcare workers and customers through the health IoT platform to build a smart health management ecosystem where customers enjoy health services including prevention, treatment, therapy and nursing. 6. The "N" business With a specific focus on "N", the Company provides hardware and software integrated system solutions for different industries, including smart finance, smart industrial parks, visual art, smart retail, industrial IoT, and other fields, which can provide customers with all-dimensional, one-stop and smart new experience under IoT scenarios. For example, smart retail provides customers with smart retail solutions covering all fields such as malls and supermarkets, 3C, cosmetics, and household, realises online and offline integration and upgrade, and offers the new experience of smart shopping; industrial IoT provides enterprises with solutions, products, and services like smart production, smart factory, and cloud services, assists customers in digital intelligence transformation relying on its self- developed industrial Internet platform, realises refined operation and management, achieves cost reduction and efficiency enhancement from all procedures of design, supply, production, and sales, and offers all-dimensional, one-stop and smart industrial IoT solutions to customers. II Core Competitiveness Analysis 1. Steadily improved market position The Company made breakthroughs in markets. In the five major application areas, our LCD market share ranked first in the world. We further expanded high-end market segments, ranked first in the world in the market shares of NB Oxide and Gaming, and saw an increase of over 20% in the sales of MNT QHD+. In terms of innovative application, the overall sales rose by over 50% year on year. In terms of car displays, the Company's market share rose to the world's highest for the first time. The smart terminal product line was gradually improved. We launched new products like 65-inch and 75-inch smart screens and C2P and C2S whole products, and saw a year-on-year increase of over 160% in the sales of large-size products; we expanded new application scenarios for smart finance, launched the industry's first elderly-friendly finance screen, and rolled out innovative scenario solutions such as green finance and elderly-friendly services; in terms of smart parks, the Company successfully joined the smart industrial park working group of the National Intelligence Standards Committee to promote the building of a standard industrial park system. 2. Continuously enhanced technological strength Through the short-, medium- and long-term technology R&D mechanism, the Company productizes technology rapidly and actively lays out forward-looking technology directions while realizing the incubation of technology value to ensure that the Company's technological strength continues to lead. In terms of patents, in the first half of the year, the number of new patent applications exceeded 4,500, including more than 90% for inventions and over 33% for overseas patents; patent applications in respect of OLED, sensors, artificial intelligence (AI) and other fields exceeded 50%. In terms of technical standards, the Company led the formulation and revision of over 40 external standards, participated in the formulation and revision of more than 70 external standards, and raised over 20 proposals on technical standards. The ISO/IEC "Internet of Things (IoT) — IoT applications for electronic label system (ELS)" led by the Company has been officially released. The four technical standards of the UHD video and audio broadcasting system for "100 Cities and 1000 Screens" such as the Technical Requirements of the Public Display System (Outdoor) of UHD Video and Audio Broadcasting System for "100 Cities and 1000 Screens", which were formulated with the Company's participation, have been officially released as well. In terms of products and technologies, the Company was the first to release the world's highest refresh rate technology for TV, MNT, and NB. For TV products, we launched the "black quartz" technology with image quality matching OLED and has passed the product certification of brand customers. A 110-inch 8K naked-eye 3D product, the largest size in the world, and a 95-inch 8K OLED smart terminal using the 8K AI image enhancement engine, also the largest size in the world, were debuted in the SID. The establishment of the process route for the NB backlight with ultrathin glass was completed, marking the thinnest module in the industry. For car display products, we launched the first oversize (more than 40 inches) and curved vehicle-grade OLED product in the world. The Company was the first to launch the peep-proof display technology featuring a 360-degree swappable display. In respect of mini/micro LED Company launched the first direct display glass P0.9 4K product in the world and won the award of best display component product for its 86-inch COG AM Mini LED backlight unit from SID DIA. The smart screens were delivered in batches in the automotive and construction fields. Besides, we launched a command centre control platform and an omnimedia transportation control platform and implemented the all-route commanding bus station project. 3. Further progress in the effectiveness of lean management BOE continuously optimized its operation mechanism, promoted the centralization and scale of products, continued to strengthen platform linkages and connections and leveraged its advantages of intensification, continuously enhancing the efficiency of production lines. Design, supply, production, and sales departments closely collaborated with each other and made concerted efforts to continuously guarantee efficient and accurate delivery. Meanwhile, focusing on the Group's strategy policy of "high-quality", we managed to increase the delivery rate of high-end products by 6.3% from last year. The Company was in a leading position in China's electronics industry in respect of the management of the "double carbon" task; we successfully promoted the analysis report on management scenarios of science-based targets, trials of carbon footprint verification for products, greenhouse gas verification, assessment of the double carbon task by third-party technology consulting firms, and the report on carbon emission reduction by customers; the 10.5th generation of TFT-LCD production line in Wuhan was recognised as a national green factory. The 8.5th generation of TFT-LCD production line won a national award for benchmarking enterprises of smart manufacturing; the 8.5th generation of TFT-LCD production line in Fuzhou became the first enterprise in the Chinese Mainland to be awarded as the "lighthouse factory" in the industry. 4. Steadily advanced digital transformation BOE continued to comprehensively advance digital transformation, with the top goal of building "a digital, visual BOE". The Company promoted and implemented a series of digital change key measures to build an end-to-end digital management system of "agile response, efficient coordination, and full coverage", so as to stimulate organisational vitality, strengthen IT system support, revitalize data capital, and realise efficient digital operation. The Company continued to improve management efficiency and business efficiency. In the first half of the year, the Company further optimised the management mechanism for digital transformation projects, deepened the empowerment by the project management system, refined the hierarchical decision-making mechanism, constantly improved enterprise structure governance, process and data management capabilities, and the development of professional capabilities, and promoted the implementation of each digital transformation project in an orderly manner focusing on excellent data, products, and delivery. III Analysis of Core Businesses Overview: See contents under the heading “I Principal Activity of the Company in the Reporting Period” above. Year-on-year changes in key financial data: Unit: RMB
No such changes in the Reporting Period. Breakdown of operating revenue: Unit: RMB
? Applicable □ Not applicable Unit: RMB
□ Applicable ? Not applicable IV Analysis of Non-Core Businesses ? Applicable □ Not applicable Unit: RMB
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