BOE(200725)2021-09-01 16:00Financial Performance - The company's operating revenue for the reporting period reached ¥107.29 billion, an increase of 89.04% compared to ¥60.87 billion in the same period last year[11]. - Net profit attributable to shareholders was ¥12.76 billion, representing a significant increase of 1,023.96% from ¥1.14 billion in the previous year[11]. - The net cash flow from operating activities was ¥32.75 billion, showing a 237.00% increase compared to ¥9.72 billion in the same period last year[11]. - Basic earnings per share rose to ¥0.363, up 1,296.15% from ¥0.026 in the previous year[11]. - The total assets at the end of the reporting period were ¥435.48 billion, reflecting a 2.64% increase from ¥424.26 billion at the end of the previous year[11]. - The net assets attributable to shareholders increased to ¥111.95 billion, an 8.39% rise from ¥103.28 billion at the end of the previous year[11]. - The weighted average return on equity was 13.40%, up from 1.05% in the same period last year, indicating improved profitability[11]. - The company achieved its best half-year performance in history, showcasing resilience amid global economic challenges and supply chain constraints[32]. - The total operating revenue for the first half of 2021 reached CNY 107.29 billion, a significant increase from CNY 56.75 billion in the same period of 2020, representing an increase of approximately 89%[130]. - The total operating costs for the first half of 2021 were CNY 87.63 billion, compared to CNY 56.08 billion in the first half of 2020, reflecting an increase of about 56%[130]. - The net profit attributable to the parent company for the first half of 2021 was CNY 11.48 billion, a decrease from CNY 11.95 billion in the same period of 2020, indicating a decline of approximately 3.9%[129]. Business Segments and Growth - The display business saw a sales volume increase of 18% and a sales area increase of 45%[24]. - The market share of LCD smartphone, tablet, laptop, monitor, and TV products remains the highest globally[25]. - The sensor and solution business experienced a 51% increase in medical imaging sales, with successful shipments to high-end medical device companies globally[26]. - The MLED business launched the world's first glass-based backlight 75-inch four-split product, achieving mass production[27]. - The smart system innovation business saw sales growth of over 200% and successfully entered several major banking procurement projects[28]. - The smart medical engineering business reported an 86% increase in outpatient visits and a 55% increase in discharge volume at Mingde Hospital[29]. - The company is focusing on IoT transformation strategies and innovation-driven upgrades to enhance its market position[56]. - The company plans for market expansion and new product development, focusing on enhancing its competitive edge in the display technology sector[128]. Research and Development - R&D investment increased by 51.11% to ¥5.93 billion, reflecting the company's commitment to enhancing its technological capabilities[38]. - The company filed over 4,500 patent applications in the first half of the year, with more than 90% being invention patents, indicating strong innovation efforts[35]. - Research and development expenses increased to CNY 977.55 million, up from CNY 843.20 million, indicating a focus on innovation and technology[133]. Environmental and Social Responsibility - The company achieved a 100% disposal rate for hazardous waste, ensuring compliance with environmental regulations[65]. - The wastewater treatment systems across all subsidiaries effectively reduced pollutants, with most facilities achieving emissions below national standards[65]. - The company has implemented advanced cleaning methods, significantly reducing the consumption of high-purity water and chemicals[65]. - The company continues to promote environmental management practices, aiming to enhance its green factory initiatives[65]. - The company has established various pollution management standards, including water and air pollution management guidelines[65]. Financial Management and Stability - The company maintained a loan repayment rate of 100% and an interest payment rate of 100%, indicating strong financial discipline[120]. - The current ratio increased to 1.37 from 1.23, while the debt-to-asset ratio decreased to 57.31% from 59.13%, indicating improved liquidity and reduced financial leverage[120]. - The EBITDA to total debt ratio improved to 23.75% from 9.09%, reflecting better operational efficiency and debt management[120]. - The interest coverage ratio surged to 8.02 from 1.27, demonstrating a substantial increase in the company's ability to meet interest obligations[120]. - Cash interest coverage ratio also improved to 12.03 from 6.03, indicating stronger cash flow relative to interest expenses[120]. Shareholder and Equity Information - The company plans to implement a stock incentive plan involving up to 981,150,000 shares, representing approximately 2.82% of the total share capital[60]. - The total number of shares outstanding reached 34,798,398,763 shares[101]. - The company’s major shareholder, Beijing State-owned Capital Operation and Management Center, holds 11.68% of the shares, totaling 4,063,333,333 shares[106]. - The company reported a total of 822,092,180 shares held by Beijing BOE Investment Development Co., Ltd., representing 2.36% of the total shares[107]. - The total number of shareholders at the end of the reporting period was 1,448,425, with 1,410,821 holding unrestricted shares[106]. Legal and Compliance Matters - The lawsuit involving BOE Technology (HK) Limited against LeEco Mobile Intelligent Information Technology (Beijing) Co., Ltd. and others has a disputed amount of 284.71 million CNY, with no expected liabilities formed[76]. - The first-instance judgment requires LeEco Mobile to pay BOE Technology (HK) Limited a total of approximately 36.94 million USD plus interest, with a 6% annual interest rate applied[76]. - The company reported no penalties or rectifications during the reporting period[79]. - There were no related party transactions in daily operations during the reporting period[80]. Accounting and Financial Reporting - The financial statements comply with the accounting standards set by the Ministry of Finance, reflecting a true and complete picture of the company's financial status as of June 30, 2021[155]. - The company has not reported any changes in accounting policies or prior period error corrections during this reporting period[148]. - The company’s accounting currency is RMB, with some subsidiaries using other currencies, which are converted for financial reporting purposes[157]. - The company recognizes expected credit losses based on the weighted average of credit losses for financial instruments, considering the longest contract term facing credit risk[170].