京东方Ｂ(200725):2022年年度审计报告（英文版）

时间：2023年04月03日 21:57:04 中财网

原标题:京东方Ｂ:2022年年度审计报告（英文版）

BOE Technology Group Co., Ltd.



















ENGLISH TRANSLATION OF FINANCIAL STATEMENTS
FOR THE YEAR 1 JANUARY 2022 TO 31 DECEMBER 2022
IF THERE IS ANY CONFLICT BETWEEN THE CHINESE
VERSION AND ITS ENGLISH TRANSLATION,
THE CHINESE VERSION WILL PREVAIL













AUDITOR’S REPORT

毕马威华振审字第 2303647号

The Shareholders of BOE Technology Group Co., Ltd.:

Opinion

We have audited the accompanying financial statements of BOE Technology Group Co., Ltd. (“BOE”), which comprise the consolidated and company balance sheets as at 31 December 2022, the consolidated and company income statements, the consolidated and company cash flow statements, the consolidated and company statements of changes in shareholders’ equity for the year then ended, and notes to the financial statements.
In our opinion, the accompanying financial statements present fairly, in all material respects, the consolidated and company financial position of BOE as at 31 December 2022, and the consolidated and company financial performance and cash flows of BOE for the year then ended in accordance with Accounting Standards for Business Enterprises issued by the Ministry of Finance of the People’s Republic of China.

Basis for Opinion

We conducted our audit in accordance with China Standards on Auditing for Certified Public Accountants (“CSAs”). Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are independent of BOE in accordance with the China Code of Ethics for Certified Public Accountants (“the Code”), and we have fulfilled our other ethical responsibilities in accordance with the Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.




AUDITOR’S REPORT (continued)

毕马威华振审字第 2303647号

Key Audit Matters

Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the financial statements of the current period. These matters were addressed in the context of our audit of the financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.

Revenue recognition
Refer to the accounting policies set out in the notes to the financial statements “III. Significant accounting policies and accounting estimates” 23 and “V. Notes to the consolidated financial statements” 43.
The Key Audit Matter	How the matter was addressed in our audit
The revenue of BOE and its subsidiaries (“BOE Group”) is mainly derived from the sales of products relating to display device across the domestic and overseas market. The sales contracts/orders signed between BOE Group and its customers (mainly electronic equipment manufacturers) contain various trading terms. BOE Group judges the transfer timing of control according to the trading terms, and recognises revenue accordingly. Depending on the trading terms, the income is usually recognized when the goods are delivered and received, or when they are received by the carrier. We identified the recognition of BOE Group’s revenue as a key audit matter because revenue, as one of BOE Group’s key performance indicators, involves various trading terms, and there is an inherent risk that revenue may not be recognised in a correct period.	Our audit procedures to evaluate revenue recognition included the following: ? Evaluate the design and operation effectiveness of key internal controls related to revenue recognition; ? Check key sales contracts/orders on a sampling basis to identify relevant trading terms, and evaluate whether the accounting policies for revenue recognition of BOE Group meet the requirements of the Enterprise Accounting Standards; ? On a sampling basis and according to different trading terms, reconcile the revenue recorded in the current year to relevant supporting files such as relevant orders, shipping orders, sales invoices, customs declarations, bills of lading, delivery receipts, etc. to evaluate whether revenue is recognised in accordance with the accounting policy of BOE Group; ? On a sampling basis and according to different trading terms, cross check the revenue recorded before and after the balance sheet date against relevant supporting files such as relevant orders, shipping orders, sales invoices, customs declarations, bills of lading, delivery receipts, etc. to evaluate whether revenue is recorded in the appropriate period;

AUDITOR’S REPORT (continued)

毕马威华振审字第 2303647号

Key Audit Matters (continued)

Revenue recognition (continued)
Refer to Note III. 23 of the accounting policy to the financial statements and Note V. 43 to to the consolidated financial statements.
The Key Audit Matter	How the matter was addressed in our audit
	? Select a sample based on the characteristics and nature of customer's transaction, and perform confirmation procedures on the balance of accounts receivable as at the balance sheet date and the sales transaction amount during the current year; ? On a sampling basis, check the written- back of revenue after the balance sheet date (including sales discounts and sales returns, etc.) with relevant supporting documents to assess whether revenue is recorded in the appropriate period; ? Select revenue accounting entries that meet specific risk criteria and check related supporting documents.

AUDITOR’S REPORT (continued)

毕马威华振审字第 2303647号

Key Audit Matters (continued)

Book value of fixed assets and construction in progress
Refer to the accounting policies set out in the notes to the financial statements “III. Significant accounting policies and accounting estimates” 13, 14 and “V. Notes to the consolidated financial statements” 14, 15.
The Key Audit Matter	How the matter was addressed in our audit
BOE Group continued to invest in building production lines of display device to expand its production capacity. As at 31 December 2022, the book value of fixed assets and construction in progress amounted to RMB 249.373 billion. The judgement made by the management on the following aspects will affect the book value of fixed assets and construction in progress, including: ? Determine which type of expenditures are qualified for capitalisation; ? Determine the timing for transferring construction in progress to fixed assets and making depreciation; ? Estimate the useful life and residual value of corresponding fixed assets. We identified the book value of fixed assets and construction in progress of BOE Group as a key audit matter because the valuation of the book value of fixed assets and construction in progress involves significant judgement from the management and it is of importance to the consolidated financial statements.	Our audit procedures to assess the book value of fixed assets and construction in progress included the following: ? Evaluate the design and operation effectiveness of key internal controls (including estimating useful life and residual values, etc.) related to the integrity, existence and accuracy of fixed assets and construction in progress; ? Check the physical status of construction in progress and fixed assets on a sampling basis; ? Check capital expenditures with relevant supporting documents (including purchase agreements/ orders, acceptance orders, engineering construction contracts, project progress reports, etc.) on a sampling basis; ? Assess whether the capitalised commissioning expenses for the current year are in compliance with relevant capitalization conditions; check the commissioning expenses with relevant supporting documents on a sampling basis; ? On the basis of sampling, assess the timing for transferring construction in progress to fixed assets, through the inspection of commissioning situation and the documents for transferring construction in progress to fixed assets; ? Based on our understanding of industry practices and actual operating conditions of assets, we evaluate the management's estimation of the useful life and residual value of fixed assets.

AUDITOR’S REPORT (continued)

毕马威华振审字第 2303647号

Key Audit Matters (continued)

Impairment of fixed assets and intangible assets
Refer to the accounting policies set out in the notes to the financial statements “III. Significant accounting policies and accounting estimates” 19 and “V. Notes to the consolidated financial statements” 14, 16.
The Key Audit Matter	How the matter was addressed in our audit
BOE Group principally generates revenue from the production and sale of display device. Due to the fluctuation of supply- demand relationship of display device and the influence of technology upgrading, the profit level of different production lines suffer dramatic fluctuation. As at 31 December 2022, the book value of fixed assets and intangible assets amounted to RMB 214.935 billion, the judgement on impairment indications and impairment test are material to BOE Group’s financial statements. The management classifies asset groups based on the smallest identifiable group of assets that generates cash inflows that are independent, and continuously monitors the trend of market of supply and demand as well as the technology evolution; comprehensively judges impairment indications of each asset group in accordance with market trends, operating conditions of production lines and technological advanced performance, and performs impairment test on asset groups if any impairment indication exists. For asset groups with impairment indications, the management assesses whether the book value of fixed assets and intangible assets as at 31 December 2022 were impaired by calculating the present value of expected future cash flows. Calculating the present value of expected future cash flows requires management to make significant judgements, especially for the estimation of future selling prices, sales volume and applicable discount rate.	Our audit procedures to evaluate impairment of fixed assets and intangible assets included the following: ? Evaluate management’s identification of asset groups, assessment of impairment indications, and assess the design and operation effectiveness of key internal controls for impairment tests; ? Based on our understanding of BOE Group’s businesses and relevant accounting standards, evaluate management’s classification basis of asset groups and judgement basis of impairment indications; ? For asset groups with impairment indications, based on our understanding of the industry, compare the key assumptions in the calculation of recoverable amounts used by management with external available data and historical analysis, including future selling prices, sales volume and discount rate used by management, evaluate the key assumptions and estimations used by the management; ? For asset groups with significant impairment risk, assess the competence, professional quality and objectivity of experts hired by the management; and adopt our own valuation experts’ work, assess if discount rates used for estimating the present value of future cash flows by management are within the range used by other companies in the same industry;

AUDITOR’S REPORT (continued)

毕马威华振审字第 2303647号

Key Audit Matters (continued)

Impairment of fixed assets and intangible assets (continued)
Refer to the accounting policies set out in the notes to the financial statements “III. Significant accounting policies and accounting estimates” 19 and “V. Notes to the consolidated financial statements” 14, 16.
The Key Audit Matter	How the matter was addressed in our audit
We identified the impairment of fixed assets and intangible assets as a key audit matter because the book value of fixed assets and intangible assets is significant to the financial statements; management’s significant judgements and estimations are involved in assessing the classification basis of asset groups, existence of impairment indications and impairment test of asset groups with impairment indications, which may exist errors or potential management bias.	Our audit procedures to evaluate impairment of fixed assets and intangible assets included the following: ? Compare estimations used for calculating the present value of expected future cash flows in the previous year by the management with the actual situation in this year to consider the historical accuracy of management’s forecast results; ? Perform sensitivity analysis on key assumptions, including future selling prices, sales volume and discount rates, used in the calculation of recoverable amount by the management; assess how changes in key assumptions (individually or collectively) will lead to different results and assess whether there are indications of management bias in the selection of key assumptions; ? Consider whether the disclosure of impairment of fixed assets and intangible assets in the financial statements is consistent with relevant accounting policy.

AUDITOR’S REPORT (continued)

毕马威华振审字第 2303647号

Other Information

BOE’s management is responsible for the other information. The other information comprises all the information included in 2022 annual report of BOE, other than the financial statements and our auditor’s report thereon.

Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated.

If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Responsibilities of Management and Those Charged with Governance for the Financial Statements

Management is responsible for the preparation and fair presentation of the financial statements in accordance with the Accounting Standards for Business Enterprises, and for the design, implementation and maintenance of such internal control necessary to enable that the financial statements are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is responsible for assessing BOE’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate BOE or to cease operations, or has no realistic alternative but to do so.
Those charged with governance are responsible for overseeing BOE’s financial reporting process.




AUDITOR’S REPORT (continued)

毕马威华振审字第 2303647号

Auditor’s Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with CSAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
As part of an audit in accordance with CSAs, we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
? Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

? Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances.

? Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
? Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on BOE’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause BOE to cease to continue as a going concern.
? Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.



AUDITOR’S REPORT (continued)

毕马威华振审字第 2303647号

Auditor’s Responsibilities for the Audit of the Financial Statements (continued)
? Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within BOE to express an opinion on the financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and communicate with them all relationships and other matters that may reasonably be thought to bear on our independence and, where applicable, related safeguards.

From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor’s report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.



KPMG Huazhen LLP Certified Public Accountants
Registered in the People’s Republic of China





Su Xing (Engagement Partner)





Beijing, China Chai Jing

31 March 2023


BOE Technology Group Co., Ltd.
Consolidated balance sheet
as at 31 December 2022
(Expressed in Renminbi Yuan)


? Note 2022 ? 2021
Assets ? ? ? ?
? ? ? ? ?
Current assets ? ? ? ?
Cash at bank and on hand V.1 68,800,307,369 ? 80,986,835,088 Financial assets held for trading V.2 17,187,993,936 ? 10,028,172,853 Bills receivable V.3 211,792,061 ? 217,734,298
Accounts receivable V.4 28,203,647,569 ? 35,503,414,820
Prepayments V.5 589,764,680 ? 1,112,880,007
Other receivables V.6 975,809,236 ? 1,922,828,378
Inventories V.7 22,787,814,225 ? 27,805,161,436
Contract assets V.8 71,636,461 ? 75,698,324
Non-current assets due within one
year ? 8,561,307 ? 7,700,735
Other current assets V.9 3,394,036,919 ? 3,578,919,710
? ? ? ? ?
Total current assets ? 142,231,363,763 ? 161,239,345,649
????





























The notes on pages 30 to 175 form part of these financial statements. BOE Technology Group Co., Ltd.
Consolidated balance sheet
as at 31 December 2022 (continued)
(Expressed in Renminbi Yuan)


? Note 2022 ? 2021
Assets (continued) ? ? ? ?
? ? ? ? ?
Non-current assets ? ? ? ?
Long-term receivables ? 28,637,449 ? 29,918,542
Long-term equity investments V.10 12,421,878,851 ? 6,040,948,317 Investments in other equity
instruments V.11 483,060,306 ? 519,088,146
Other non-current financial assets V.12 2,022,967,681 ? 606,895,447 Investment properties V.13 1,122,025,138 ? 1,158,365,401
Fixed assets V.14 205,987,050,430 ? 227,141,366,884
Construction in progress V.15 43,386,134,668 ? 32,099,711,879 Right-of-use assets V.60 687,120,946 ? 753,164,237
Intangible assets V.16 8,948,327,143 ? 11,209,498,406
Goodwill V.17 660,823,651 ? 1,130,006,987
Long-term deferred expenses V.18 556,941,377 ? 636,530,502
Deferred tax assets V.19 70,250,425 ? 190,335,524
Other non-current assets V.20 1,955,521,384 ? 7,477,427,483 ? ? ? ? ?
Total non-current assets ? 278,330,739,449 ? 288,993,257,755 ? ? ? ? ?
? ? ? ? ?
Total assets ? 420,562,103,212 ? 450,232,603,404
???






















The notes on pages 30 to 175 form part of these financial statements. BOE Technology Group Co., Ltd.
Consolidated balance sheet
as at 31 December 2022 (continued)
(Expressed in Renminbi Yuan)


? Note 2022 ? 2021
Liabilities and shareholders’ equity ? ? ? ?
? ? ? ? ?
Current liabilities ? ? ? ?
Short-term loans V.21 2,373,938,871 ? 2,072,057,332
Bills payable V.22 870,221,538 ? 827,958,031
Accounts payable V.23 29,834,720,464 ? 32,455,830,694
Advance payments received V.24 79,848,977 ? 146,140,084
Contract liabilities V.25 2,411,717,792 ? 3,765,081,554
Employee benefits payable V.26 2,818,532,823 ? 5,133,155,237 Taxes payable V.27 1,331,401,188 ? 2,200,249,305
Other payables V.28 19,632,223,269 ? 23,835,374,942
Non-current liabilities due within one
year V.29 22,703,750,744 ? 28,874,958,714
Other current liabilities V.30 3,613,967,673 ? 4,051,532,509 ? ? ? ? ?
Total current liabilities ? 85,670,323,339 ? 103,362,338,402 ????




























The notes on pages 30 to 175 form part of these financial statements. BOE Technology Group Co., Ltd.
Consolidated balance sheet
as at 31 December 2022 (continued)
(Expressed in Renminbi Yuan)


? Note 2022 ? 2021
Liabilities and shareholders’ equity
(continued) ? ? ? ?
? ? ? ? ?
Non-current liabilities ? ? ? ?
Long-term loans V.31 123,143,479,690 ? 116,078,666,587
Debentures payable V.32 - ? 359,586,437
Lease liabilities V.60 538,586,010 ? 669,130,264
Long-term payables V.33 229,587,077 ? 906,592,838
Deferred income V.34 5,156,347,332 ? 6,416,089,611
Deferred tax liabilities V.19 1,274,406,833 ? 1,525,622,873 Other non-current liabilities V.35 2,499,075,805 ? 3,535,809,876 ? ? ? ? ?
Total non-current liabilities ? 132,841,482,747 ? 129,491,498,486 ? ? ? ? ?
? ? ? ? ?
Total liabilities ? 218,511,806,086 ? 232,853,836,888
???
? ? ? ? ?




























The notes on pages 30 to 175 form part of these financial statements. BOE Technology Group Co., Ltd.
Consolidated balance sheet
as at 31 December 2022 (continued)
(Expressed in Renminbi Yuan)


? Note 2022 ? 2021
Liabilities and shareholders’ equity
(continued) ? ? ? ?
? ? ? ? ?
Shareholders’ equity ? ? ? ?
Share capital V.36 38,196,363,421 ? 38,445,746,482
Other equity instruments V.37 8,176,366,808 ? 14,146,997,427 Capital reserve V.38 55,218,504,392 ? 53,917,609,094
Less: Treasury shares V.39 3,508,201,911 ? 3,415,768,207
Other comprehensive income V.40 (1,073,768,030) ? 113,551,147 Surplus reserve V.41 3,241,063,934 ? 2,889,590,205
Retained earnings V.42 35,839,081,781 ? 37,106,514,799
? ? ? ? ?
Total equity attributable to
shareholders of the Company ? 136,089,410,395 ? 143,204,240,947 ? ? ? ? ?
Non-controlling interests ? 65,960,886,731 ? 74,174,525,569 ? ? ? ? ?
Total shareholders’ equity ? 202,050,297,126 ? 217,378,766,516 ? ? ? ? ?
? ? ? ? ?
Total liabilities and shareholders’ equity ? 420,562,103,212 ? 450,232,603,404 ????

These financial statements were approved by the Board of Directors of the Company on 31 March 2023.






Chen Yanshun Gao Wenbao Yang Xiaoping Teng Jiao (Company Chairman of the Chief Executive Chief Financial The head of the stamp) Board Officer Officer accounting
department
(Signature and (Signature and (Signature and (Signature and stamp) stamp) stamp) stamp)








The notes on pages 30 to 175 form part of these financial statements. BOE Technology Group Co., Ltd.
Company balance sheet
as at 31 December 2022
(Expressed in Renminbi Yuan)


? Note 2022 ? 2021
Assets ? ? ? ?
? ? ? ? ?
Current assets ? ? ? ?
Cash at bank and on hand 7,121,641,234 ? 5,609,364,822
Accounts receivable XV.1 4,863,665,269 ? 4,828,855,275
Prepayments ? 7,045,311 ? 12,669,107
Other receivables XV.2 19,878,145,375 ? 15,449,830,610
Inventories ? 15,065,947 ? 15,853,238
Other current assets 57,226,515 ? 167,179,023
? ? ? ? ?
Total current assets ? 31,942,789,651 ? 26,083,752,075
? ? ? ? ?
Non-current assets ? ? ? ?
Long-term equity investments XV.3 214,308,953,020 ? 210,945,821,235 Investments in other equity
instruments ? 60,434,464 ? 63,458,868
Other non-current financial assets 1,416,072,234 ? -
Investment properties ? 251,870,591 ? 261,526,129
Fixed assets ? 921,510,043 ? 961,944,766
Construction in progress ? 616,247,335 ? 551,352,449
Right-of-use assets 126,373,643 ? 170,173,793
Intangible assets 1,122,230,564 ? 1,243,806,868
Long-term deferred expenses ? 384,123,386 ? 441,560,097
Other non-current assets ? 1,080,322,988 ? 1,744,751,520
? ? ? ? ?
Total non-current assets ? 220,288,138,268 ? 216,384,395,725 ? ? ? ? ?
? ? ? ? ?
Total assets ? 252,230,927,919 ? 242,468,147,800
?













The notes on pages 30 to 175 form part of these financial statements. BOE Technology Group Co., Ltd.
Company balance sheet
as at 31 December 2022 (continued)
(Expressed in Renminbi Yuan)


? Note 2022 ? 2021
Liabilities and shareholders’ equity ? ? ? ?
? ? ? ? ?
Current liabilities ? ? ? ?
Accounts payable ? 312,100,258 ? 61,519,244
Advance payments received 14,819,929 ? 20,038,334
Contract liabilities ? 19,200 ? -
Employee benefits payable 282,792,422 ? 640,728,285
Taxes payable ? 139,166,672 ? 244,586,957
Other payables XV.5 4,249,391,146 ? 2,880,884,768
Non-current liabilities due within one
year ? 2,704,607,119 ? 10,909,326,195
Other current liabilities ? 20,283,257 ? 29,190,783
? ? ? ? ?
Total current liabilities ? 7,723,180,003 ? 14,786,274,566
? ? ? ? ?
Non-current liabilities ? ? ? ?
Long-term loans XV.6 39,557,500,000 ? 32,208,500,000
Lease liabilities 85,830,813 ? 129,343,868
Deferred income 1,933,587,746 ? 2,906,951,707
Deferred tax liabilities XV.4 111,987,272 ? 225,816,218
Other non-current liabilities XV.7? 96,394,661,805 ? 74,506,661,805 ? ? ? ? ?
Total non-current liabilities ? 138,083,567,636 ? 109,977,273,598 ? ? ? ? ?
? ? ? ? ?
Total liabilities ? 145,806,747,639 ? 124,763,548,164
????

















The notes on pages 30 to 175 form part of these financial statements. BOE Technology Group Co., Ltd.
Company balance sheet
as at 31 December 2022 (continued)
(Expressed in Renminbi Yuan)


? Note 2022 ? 2021
Liabilities and shareholders’ equity
(continued) ? ? ? ?
? ? ? ? ?
Shareholders’ equity ? ? ? ?
Share capital V.36 38,196,363,421 ? 38,445,746,482
Other equity instruments V.37 8,176,366,808 ? 14,146,997,427 Capital reserve XV.8 53,693,627,213 ? 53,598,033,152
Less: Treasury shares V.39 3,508,201,911 ? 3,415,768,207
Other comprehensive income XV.9 340,345 ? 89,024,650
Surplus reserve V.41 3,241,063,934 ? 2,889,590,205
Retained earnings XV.10 6,624,620,470 ? 11,950,975,927
? ? ? ? ?
Total shareholders’ equity ? 106,424,180,280 ? 117,704,599,636 ? ? ? ? ?
? ? ? ? ?
Total liabilities and shareholders’ equity ? 252,230,927,919 ? 242,468,147,800 ???


These financial statements were approved by the Board of Directors of the Company on 31 March 2023.






Chen Yanshun Gao Wenbao Yang Xiaoping Teng Jiao (Company Chairman of the Chief Executive Chief Financial The head of the stamp) Board Officer Officer accounting
department
(Signature and (Signature and (Signature and (Signature and stamp) stamp) stamp) stamp)











The notes on pages 30 to 175 form part of these financial statements. BOE Technology Group Co., Ltd.
Consolidated income statement
for the year ended 31 December 2022
(Expressed in Renminbi Yuan)


? Note 2022 ? 2021
? ? ? ? ?
I. Operating income V.43 178,413,731,179 ? 221,035,718,012
? ? ? ? ?
II. Less: Operating costs V.43 157,530,566,152 ? 157,298,825,781 Taxes and surcharges V.44 1,275,171,339 ? 1,424,205,826
Selling and distribution expenses V.45 4,233,290,297 ? 5,484,589,978 General and administrative
expenses V.46 6,247,637,006 ? 6,693,373,589
Research and development
expenses V.47 11,100,768,677 ? 10,616,426,327
Financial expenses V.48 2,445,130,575 ? 3,682,379,202
Including: Interest expenses ? 3,572,211,438 ? 4,866,778,333 Interest income ? 1,483,022,892 ? 1,050,431,325
Add: Other income V.49 5,485,529,324 ? 2,092,765,728
Investment income V.50 6,094,267,884 ? 1,347,489,345
Including: Income from
investment in
associates and joint
ventures ? 528,103,680 ? 1,245,036,895
Gains from changes in fair value V.51 159,344,584 ? 84,966,963 Credit losses V.52 (51,577,226) ? (28,409,869)
Impairment losses V.53 (7,304,471,630) ? (4,478,251,852)
Gains from asset disposals V.54 10,965,556 ? 153,505,791
? ? ? ? ?
III. Operating (loss) / profit ? (24,774,375) ? 35,007,983,415 ? ? ? ? ?
Add: Non-operating income V.55 163,242,857 ? 131,607,946
Less: Non-operating expenses V.55 87,249,543 ? 55,215,102
????

















The notes on pages 30 to 175 form part of these financial statements. BOE Technology Group Co., Ltd.
Consolidated income statement
for the year ended 31 December 2022 (continued)
(Expressed in Renminbi Yuan)


? Note 2022 ? 2021
? ? ? ? ?
IV. Profit before income tax ? 51,218,939 ? 35,084,376,259
? ? ? ? ?
Less: Income tax expenses V.56 1,788,394,107 ? 4,187,971,404 ? ? ? ? ?
V. Net (loss) / profit for the year ? (1,737,175,168) ? 30,896,404,855 ? ? ? ? ?
Shareholders of the Company ? 7,550,877,790 ? 25,960,751,646 Non-controlling interests ? (9,288,052,958) ? 4,935,653,209 ???


































The notes on pages 30 to 175 form part of these financial statements. BOE Technology Group Co., Ltd.
Consolidated income statement
for the year ended 31 December 2022 (continued)
(Expressed in Renminbi Yuan)


? Note 2022 ? 2021
? ? ? ? ?
VI. Other comprehensive income, net of
tax V.40 (1,158,016,792) ? 155,717,231
? ? ? ? ?
Other comprehensive income (net of
tax) attributable to owners of the
Company ? (1,164,537,236) ? 190,988,004
(1) Items that will not be
reclassified to profit or loss ? ? ? ?
1. Other comprehensive
income recognised
under equity method ? (53,367,649) ? 68,869,497
2. Changes in fair value of
investments in other
equity instruments ? (79,547,426) ? (40,618,274)
(2) Items that may be reclassified
to profit or loss ? ? ? ?
1. Other comprehensive
income recognised
under equity method ? 127,867 ? (296,553)
2. Translation differences
arising from translation of
foreign currency financial
statements ? (1,031,750,028) ? 163,033,334
Other comprehensive income (net of
tax) attributable to non-controlling
interests ? 6,520,444 ? (35,270,773)
????
















The notes on pages 30 to 175 form part of these financial statements. BOE Technology Group Co., Ltd.
Consolidated income statement
for the year ended 31 December 2022 (continued)
(Expressed in Renminbi Yuan)


? Note 2022 ? 2021
? ? ? ? ?
VII. Total comprehensive income for the
year ? (2,895,191,960) ? 31,052,122,086
? ? ? ? ?
Attributable to shareholders of the
Company ? 6,386,340,554 ? 26,151,739,650
Attributable to non-controlling interests ? (9,281,532,514) ? 4,900,382,436 ? ? ? ? ?
VIII. Earnings per share: ? ? ? ?
(1) Basic earnings per share V.57 0.19 ? 0.71
(2) Diluted earnings per share V.57 Not applicable ? 0.71
???



These financial statements were approved by the Board of Directors of the Company on 31 March 2023.






Chen Yanshun Gao Wenbao Yang Xiaoping Teng Jiao (Company Chairman of the Chief Executive Chief Financial The head of the stamp) Board Officer Officer accounting
department
(Signature and (Signature and (Signature and (Signature and stamp) stamp) stamp) stamp)















The notes on pages 30 to 175 form part of these financial statements. BOE Technology Group Co., Ltd.
Company income statement
for the year ended 31 December 2022
(Expressed in Renminbi Yuan)


? Note 2022 ? 2021
? ? ? ? ?
I. Operating income XV.11 4,873,328,715 ? 5,716,998,034
? ? ? ? ?
II. Less: Operating costs ? 10,080,268 ? 16,459,454
Taxes and surcharges XV.11 55,342,015 ? 36,630,410
General and administrative
expenses ? 1,348,187,653 ? 1,577,032,602
Research and development
expenses 2,046,032,751 ? 2,330,865,497
Financial expenses 574,596,105 ? 798,736,264
Including: Interest expenses 631,737,202 ? 892,768,026
Interest income 96,658,931 ? 93,003,346
Add: Other income 948,637,354 ? 948,922,174
Investment income XV.12 1,934,087,931 ? 2,755,668,691
Including: Income from
investment in
associates and
joint ventures ? 328,861,860 ? 864,640,400
Credit losses ? (18,126,642) ? (5,247,340)
Losses from asset disposals ? - ? (773,327)
? ? ? ? ?
III. Operating profit ? 3,703,688,566 ? 4,655,844,005
? ? ? ? ?
Add: Non-operating income ? 6,873,424 ? 7,424,220
Less: Non-operating expenses ? 26,617,581 ? 5,915,655
? ? ? ? ?
IV. Profit before income tax ? 3,683,944,409 ? 4,657,352,570 ? ? ? ? ?
Less: Income tax expenses XV.13 202,080,897 ? 260,856,004
? ? ? ? ?
V. Net profit for the year ? 3,481,863,512 ? 4,396,496,566 ????












The notes on pages 30 to 175 form part of these financial statements.
BOE Technology Group Co., Ltd.
Company income statement
for the year ended 31 December 2022 (continued)
(Expressed in Renminbi Yuan)


? Note 2022 ? 2021
? ? ? ? ?
VI. Other comprehensive income, net of
tax XV.9 (55,810,525) ? 53,550,302
(1) Items that will not be reclassified
to profit or loss ? ? ? ?
1. Other comprehensive income
recognised under equity
method ? (53,367,649) ? 68,869,497
2. Changes in fair value of
investments in other equity
instruments ? (2,570,743) ? (15,073,903)
(2) Items that may be reclassified to
profit or loss ? 127,867 ? (245,292)
? ? ? ? ?
VII. Total comprehensive income for the
year ? 3,426,052,987 ? 4,450,046,868
???


These financial statements were approved by the Board of Directors of the Company on 31 March 2023.






Chen Yanshun Gao Wenbao Yang Xiaoping Teng Jiao (Company Chairman of the Chief Executive Chief Financial The head of the stamp) Board Officer Officer accounting
department
(Signature and (Signature and (Signature and (Signature and stamp) stamp) stamp) stamp)











The notes on pages 30 to 175 form part of these financial statements.
BOE Technology Group Co., Ltd.
Consolidated cash flow statement
for the year ended 31 December 2022
(Expressed in Renminbi Yuan)


? Note 2022 ? 2021
I. Cash flows from operating
activities: ? ? ? ?
Proceeds from sale of goods and
rendering of services ? 193,327,661,415 ? 221,840,098,206
Refund of taxes ? 17,259,338,469 ? 13,173,129,922
Proceeds from other operating
activities ? 7,397,264,096 ? 5,925,158,408
? ? ? ? ?
Sub-total of cash inflows ? 217,984,263,980 ? 240,938,386,536 ? ? ? ? ?
Payment for goods and services ? (142,617,274,685) ? (146,642,673,111) Payment to and for employees ? (19,821,022,609) ? (17,908,235,464) Payment of various taxes ? (5,394,897,972) ? (5,149,971,194) Payment for other operating
activities ? (7,129,101,409) ? (8,538,818,211)
? ? ? ? ?
Sub-total of cash outflows ? (174,962,296,675) ? (178,239,697,980) ? ? ? ? ?
? ? ? ? ?
Net cash flows generated from
operating activities V.58(1) 43,021,967,305 ? 62,698,688,556 ???






















The notes on pages 30 to 175 form part of these financial statements. BOE Technology Group Co., Ltd.
Consolidated cash flow statement
for the year ended 31 December 2022 (continued)
(Expressed in Renminbi Yuan)


? Note 2022 ? 2021
II. Cash flows from investing activities: ? ? ? ?
Proceeds from disposal of investments ? 83,038,823,137 ? 33,071,343,623 Investment returns received ? 461,543,173 ? 180,030,588
Net proceeds from disposal of fixed
assets, intangible assets and other
long-term assets ? 26,645,620 ? 69,111,303
Net proceeds from disposal of
subsidiaries ? 936,758,922 ? -
Proceeds from other investing
activities ? 1,311,942,470 ? 3,438,995,631
? ? ? ? ?
Sub-total of cash inflows ? 85,775,713,322 ? 36,759,481,145 ? ? ? ? ?
Payment for acquisition of fixed
assets, intangible assets and other
long-term assets ? (29,398,245,045) ? (36,098,078,337)
Payment for acquisition of investments ? (92,205,577,385) ? (41,638,460,294) Net payment for acquisition of
subsidiaries ? - ? (2,815,535)
Net payment for disposal of
subsidiaries ? (144,689,766) ? (160,887,997)
? ? ? ? ?
Sub-total of cash outflows ? (121,748,512,196) ? (77,900,242,163) ? ? ? ? ?
? ? ? ? ?
Net cash flows used in investing
activities ? (35,972,798,874) ? (41,140,761,018)
???















The notes on pages 30 to 175 form part of these financial statements. BOE Technology Group Co., Ltd.
Consolidated cash flow statement
for the year ended 31 December 2022 (continued)
(Expressed in Renminbi Yuan)


? Note 2022 ? 2021
? ? ? ? ?
III. Cash flows from financing activities: ? ? ? ?
Proceeds from investors ? 2,301,848,242 ? 31,519,607,755
Including: Proceeds from non-
controlling shareholders
of subsidiaries ? 2,301,848,242 ? 11,187,003,325
Proceeds from issuance of debentures ? 2,000,000,000 ? -
Proceeds from borrowings ? 49,812,750,352 ? 31,028,727,811
Proceeds from other financing
activities ? 771,327,623 ? 1,106,689,881
? ? ? ? ?
Sub-total of cash inflows ? 54,885,926,217 ? 63,655,025,447 ???






























The notes on pages 30 to 175 form part of these financial statements. BOE Technology Group Co., Ltd.
Consolidated cash flow statement
for the year ended 31 December 2022 (continued)
(Expressed in Renminbi Yuan)


? Note 2022 ? 2021
III. Cash flows from financing activities
(continued): ? ? ? ?
Repayments of borrowings ? (51,681,667,124) ? (48,435,579,182) Payment for redeeming bonds ? (8,000,000,000) ? -
Payment for dividends or interest ? (13,828,515,479) ? (10,261,666,002) Including: Profits paid to non-
controlling shareholders
of subsidiaries ? (39,388,061) ? (34,862,550)
Payment for other financing activities ? (2,548,995,476) ? (17,139,649,816) ? ? ? ? ?
Sub-total of cash outflows ? (76,059,178,079) ? (75,836,895,000) ? ? ? ? ?
? ? ? ? ?
Net cash flow used in financing
activities ? (21,173,251,862) ? (12,181,869,553)
? ? ? ? ?
IV. Effect of foreign exchange rate
changes on cash and cash
equivalents ? 1,882,635,112 ? (817,308,273)
? ? ? ? ?
? ? ? ? ?
V. Net (decrease) / increase in cash and
cash equivalents V.58(1) (12,241,448,319) ? 8,558,749,712 （未完）