BOE(200725)2022-08-29 16:00Financial Performance - The company's operating revenue for the reporting period was ¥91.61 billion, a decrease of 15.66% compared to ¥107.29 billion in the same period last year[13]. - The net profit attributable to shareholders was ¥6.60 billion, down 48.94% from ¥12.76 billion in the previous year[13]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥4.24 billion, a decline of 64.12% from ¥11.66 billion year-on-year[13]. - The net cash flow from operating activities was ¥28.11 billion, a decrease of 14.26% compared to ¥32.75 billion in the previous year[13]. - Basic earnings per share were ¥0.166, down 54.77% from ¥0.363 in the same period last year[13]. - The total assets at the end of the reporting period were ¥446.29 billion, a decrease of 0.88% from ¥449.73 billion at the end of the previous year[13]. - The net assets attributable to shareholders at the end of the reporting period were ¥143.32 billion, an increase of 0.16% from ¥142.93 billion at the end of the previous year[13]. - The weighted average return on net assets was 4.80%, down from 13.40% in the previous year[13]. - The company reported a total of 2,356,205,645.00 yuan in non-recurring gains and losses, with government subsidies contributing 2,960,353,628.00 yuan[16]. - The company reported a total of RMB 321.48 million in remaining funds from the renewable corporate bond fundraising, which is the interest income generated during the holding period[43]. Market Position and Product Development - BOE Technology Group maintained the global number one market share in five mainstream application areas of LCD, with significant growth in high-end markets such as NB Oxide and Gaming, achieving over 20% year-on-year increase in MNT QHD+ sales[23]. - The company launched new products including 65-inch and 75-inch smart screens, with large-size product sales increasing by over 160% year-on-year[23]. - The company achieved a global number one market share in the automotive sector for the first time[23]. - The innovative application areas saw overall sales increase by over 50% year-on-year[23]. - The company launched several new technologies, including the world's largest 110-inch 8K naked-eye 3D product and a 40-inch curved automotive-grade OLED product[24]. - The company filed over 4,500 new patent applications in the first half of the year, with more than 90% being invention patents[24]. Investment and Financial Management - Research and development investment increased by 2.80% to ¥5.69 billion from ¥5.54 billion in the previous year[28]. - The financial expenses decreased significantly by 62.80% to ¥654 million due to reduced net interest expenses[28]. - The total investment during the reporting period was ¥252.04 million, a significant decrease of 68.34% compared to ¥796.09 million in the same period last year[36]. - The company has committed to invest CNY 300,000 in Fuzhou BOE Optoelectronics Technology Co., with 100% of the funds already utilized[42]. - The company has invested CNY 289,828 in various projects during the reporting period, with a cumulative investment of CNY 1,993,336[42]. Environmental and Sustainability Initiatives - The company achieved a total energy savings of 74.29 million kWh, water savings of 2.71 million tons, natural gas savings of 124,600 cubic meters, nitrogen savings of 33,440 cubic meters, and steam savings of 3,600 cubic meters by the end of June 2022 through various energy-saving projects[63]. - The company has implemented a comprehensive environmental management system, ensuring that all wastewater and emissions meet national and local standards, with no significant environmental issues reported during the reporting period[57][58]. - The company has established a carbon emission management policy aimed at achieving peak carbon emissions and carbon neutrality, with measurable targets and ongoing improvements in carbon management performance[63]. - The company has a 100% disposal rate for hazardous waste, ensuring all waste is handled by qualified recyclers[57]. - The company emphasizes the use of recyclable materials and has adopted a "4R" concept (Recycle, Reduce, Renew, Responsibly) for raw material usage[57]. Corporate Governance and Shareholder Relations - The company held its annual general meeting on April 28, 2022, with an investor participation rate of 24.61%[49]. - There were several changes in the board of directors and senior management during the reporting period, with multiple resignations and new appointments[50]. - The company has committed to not reducing or transferring shares held by certain directors and senior management for a period extending six months after their term ends, ensuring stability in shareholding[67]. - The company reported a total of 20,005,381 shares held by directors and senior management, with 14,968,000 shares being granted as restricted stock[106]. - The company has established a voting rights exercise agreement with Hefei Jianxiang Investment Co., Ltd. to manage its voting rights post-private placement[103]. Financial Reporting and Compliance - The half-year financial report has not been audited, indicating that the financial results are still subject to review[68]. - The financial statements comply with the accounting standards issued by the Ministry of Finance and reflect the company's financial position accurately[148]. - The company has not made any significant changes to its accounting policies or estimates during the reporting period[147]. - The company’s accounting currency is Renminbi, and it has subsidiaries that may use other currencies for accounting purposes[150]. Debt and Liabilities - The company's long-term borrowings increased to ¥123.86 billion, representing 27.75% of total liabilities, an increase of 1.97% from the previous year[32]. - The total liabilities at the end of the reporting period were ¥446.73 billion, with short-term borrowings of ¥2.77 billion[32]. - The company has provided joint liability guarantees for multiple subsidiaries, with amounts ranging from 10,500 to 2,251,908[78]. - The company has ensured that all guaranteed parties have provided counter-guarantees, mitigating potential risks[78]. Future Outlook - The company plans to expand its market presence and invest in new technologies, although specific financial projections were not disclosed during the call[137]. - The company has maintained its ability to continue as a going concern for the next 12 months[147].