BOE(SZ:000725)2023-08-28 16:00Financial Performance - Operating revenue for H1 2023 was RMB 80.18 billion, a decrease of 12.48% compared to RMB 91.61 billion in H1 2022[15]. - Net profit attributable to the listed company's shareholders for H1 2023 was RMB 735.81 million, down 88.84% from RMB 6.60 billion in H1 2022[15]. - Basic earnings per share for H1 2023 were RMB 0.02, a decline of 88.24% compared to RMB 0.17 in H1 2022[15]. - Operating profit for H1 2023 was a loss of RMB 1.01 billion, compared to a profit of RMB 4.81 billion in H1 2022[152]. - Net profit for H1 2023 was a loss of RMB 1.67 billion, compared to a profit of RMB 3.21 billion in H1 2022[152]. - The company reported a total comprehensive income of RMB -1.26 billion for H1 2023, compared to RMB 2.72 billion in H1 2022[153]. - The company reported a comprehensive income of RMB -1,263,635,887 for H1 2023, compared to RMB 735,809,609 in H1 2022, indicating a significant decline[162]. Cash Flow and Investments - Net cash generated from operating activities decreased by 42.22% to RMB 16.24 billion in H1 2023 from RMB 28.11 billion in H1 2022[15]. - Net cash used in investing activities was RMB -2.02 billion, a significant improvement of 91.14% compared to RMB -22.84 billion in the previous year[43]. - The company reported a net increase in cash and cash equivalents of RMB -3.79 billion, a decline of 219.24% from RMB 3.18 billion in H1 2022[43]. - Cash generated from operating activities was RMB 93,987,932,261, down 23.3% from RMB 122,755,008,916 in H1 2022[156]. - Cash used in investing activities totaled RMB 47,302,260,367, a decrease from RMB 59,362,468,714 in H1 2022[157]. - Net cash generated from financing activities was -RMB 18,815,007,770, compared to -RMB 3,178,244,904 in H1 2022, indicating a worsening cash flow situation[157]. Assets and Liabilities - Total assets as of June 30, 2023, were RMB 409.41 billion, reflecting a decrease of 2.65% from RMB 420.57 billion at the end of 2022[15]. - Total liabilities rose to RMB 160.86 billion in H1 2023, up from RMB 145.81 billion in H1 2022, an increase of 10.3%[150]. - Long-term borrowings stood at RMB 121.13 billion, a slight decrease of 1.63% from RMB 123.14 billion at the end of 2022[49]. - The company reported a debt-to-asset ratio improvement due to the effective use of raised funds, enhancing its debt-paying ability and financial position[64]. Research and Development - R&D investments increased by 2.24% to RMB 5.82 billion from RMB 5.69 billion in the previous year[42]. - R&D expenses for H1 2023 were RMB 5.27 billion, slightly down from RMB 5.36 billion in H1 2022[152]. - In the first half of the year, BOE filed over 3,900 new patent applications, with more than 90% being for inventions and over 30% for overseas patents[37]. Market Position and Innovations - In the first half of 2023, BOE maintained its leading position in the display market, with the shipment volume of LCD displays and five major applications being the largest globally[32]. - The shipment volume of flexible AMOLEDs increased significantly, with over 50 million units sold within six months, representing a nearly 80% year-on-year growth[33]. - BOE's 65" and 8K TV backlight products won the "CDIA Bronze Award for Best Innovative Display Component of the Year" in 2023, highlighting its innovation in MLED technology[36]. Environmental and Social Responsibility - The company aims to achieve carbon neutrality by 2050, with a commitment to the Science Based Targets initiative (SBTi) to limit global temperature rise to 1.5°C[89]. - The hazardous waste disposal rate reached 100%, with all hazardous waste materials handed over to qualified recyclers for treatment[87]. - The company continues to promote rural revitalization and corporate social responsibility through various educational and support initiatives[91]. Corporate Governance and Management - The company has appointed new senior management members, including Feng Qiang and Guo Huaping, effective March 31, 2023[75]. - The company has implemented an equity incentive scheme, including stock options and restricted stock grants, to motivate employees[78]. - The company has not engaged in any major related-party transactions during the reporting period[98]. Shareholder Information - The total number of ordinary shareholders at the period-end is 1,320,143, including both A-shareholders and B-shareholders[126]. - The largest shareholder, Beijing State-owned Capital Operation and Management Company Limited, has no increase or decrease in holdings during the reporting period[126]. - The company distributed a 2022 final dividend of RMB0.61 per 10 shares, with no bonus issue from either profit or capital reserves[117].