Stock Code: 000725, 200725 Stock Name: BOE-A, BOE-B Announcement No. 2025-024
BOE TECHNOLOGY GROUP CO., LTD.ANNUAL REPORT 2024 (SUMMARY)Part I Important NotesThis Summary is based on the full Annual Report of BOE Technology Group Co., Ltd. (together with its consolidated subsidiaries, the“Company”, except where the context otherwise requires). In order for a full understanding of the Company’s operating results,financial position and future development plans, investors should carefully read the aforesaid full report, which has been disclosedtogether with this Summary on the media designated by the China Securities Regulatory Commission (the “CSRC”).All the Company’s directors have attended the Board meeting for the review of this Report and its summary.Independent auditor’s modified opinion:
□ Applicable ? Not applicable
Board-approved final cash and/or stock dividend plan:
? Applicable □ Not applicableBonus issue from capital reserves:
□ Yes ? No
The Board has approved a final dividend plan for the Reporting Period. Based on 37,416,133,303 shares, a cash dividend of RMB0.5(tax inclusive) per 10 shares is to be distributed to all the shareholders, with no bonus issue from either profit or capital reserves.Board-approved final cash and/or stock dividend plan for preference shareholders:
□ Applicable ? Not applicable
This Report and its summary have been prepared in both Chinese and English. Should there be any discrepancies or misunderstandingsbetween the two versions, the Chinese versions shall prevail.Part II Key Corporate Information
1. Stock Profile
| Stock name | BOE-A, BOE-B | Stock code | 000725, 200725 |
| Stock exchange for stock listing | Shenzhen Stock Exchange | ||
| Previous stock name (if any) | N/A | ||
| Contact information | Board Secretary | Securities Representative | |
| Name | Guo Hong | Luo Wenjie | |
| Office Address | 12 Xihuan Middle Road, Beijing Economic-Technological Development Area, P.R.China | 12 Xihuan Middle Road, Beijing Economic-Technological Development Area, P.R.China | |
| Fax | 010-64366264 | 010-64366264 | |
| Tel. | 010-64318888 | 010-64318888 | |
| E-mail address | guohong@boe.com.cn | luowenjie@boe.com.cn |
2. Principal Operations or Products in the Reporting Period
(I) About the CompanyIn constant pursuit of excellence, BOE Technology Group Co., Ltd. is an innovative IoT company dedicated to providing intelligentinterface products and professional services for information interaction and human health.With “To Be the Most Respected Company on Earth” as its vision and, BOE always keeps in mind the mission of “Change Life withBOE Display Everywhere”, upholds the core values of “Integrity & Reliability, Dedication to Customers, Being People-oriented,Openness and Innovation”, as well as adheres to the business philosophy of “Doing the Right Thing, Innovation and Progress Seeking”.In pursuit of high-quality, sustainable development and guided by the strategy of “Empower IoT with Display”, BOE has been forgingahead through innovation, as well as accelerating the realisation of high-level collaboration within and outside the industry. BOE hasgrown into a world leader in the semiconductor display industry and a global innovative company in the IoT sector. At present, it hasa significant number of manufacturing bases in Beijing, Hefei, Chengdu, Chongqing, Fuzhou, Mianyang, Wuhan, Kunming, SuzhouOrdos, etc., with subsidiaries across nearly 20 countries and regions including the United States, Germany, Japan, South Korea,Singapore, India, Brazil, and the United Arab Emirates, as well as a service system that covers major regions of the world, such asEurope, Americas, Asia, and Africa.Adhering to a “market-oriented, international, and professional” development approach, the Company keeps in mind the people-oriented principle, drives continuous innovations in an intelligent and IoT-based era, as well as provides customers with better productsand more thoughtful service experience with its well-established global network and a diverse product and service system.To embrace the development trends of the industry, BOE has put in place a development architecture of "1+4+N+Ecosystem", amongwhich:
"1" represents semiconductor display, which is the core capacity and quality resources accumulated by BOE, as well as the source andorigin of the Company's development."4" is a high-potential channel and direction of development selected based on BOE's core competence and value chain extension, aswell as the four main fronts of the Company's IoT development, namely the IoT Innovation business, the Sensor business, the MLEDbusiness and the Smart Engineering Medicine business."N" refers to the subdivided application scenarios of IoT that are continuously explored and cultivated by BOE, as well as the specificfocus of the Company's IoT development.“Ecosystem” is an industrial ecological development circle constructed by the Company in collaboration with many partners and byaggregating the resources of the industrial chain and ecosystem chain.(II) About the Company’s principal operations
1. The Display Devices business
The Display Devices business offers integrated design and manufacturing services for devices, and is committed to providing interfacedevices applying TFT-LCD, AMOLED and other technologies, focusing on providing customers with high-quality display devices forsmartphones, tablet PCs, laptops, monitors, TVs, vehicles, etc.
2. The IoT Innovation business
The IoT Innovation business offers integrated design and manufacturing services for system solutions, and provides customers withcompetitive smart terminal products for TVs, monitors, laptops, tablets, low-power devices, IoT, 3D display, etc. Backed by AI andbig data technologies, it focuses on products and services combining hardware and software, providing integrated IoT solutions forsegments including smart industrial parks, smart finance, etc.
3. The Sensor business
The Sensor business offers integrated design and manufacturing solutions, focuses on FPXD, smart display windows, MEMS, industrialsensors, and glass packaging substrates, and provides customers with products and services including back plates for flat panel X-ray
detectors (FPXD), intelligent PDLC windows and PDLC system solutions, consumer electronics and industrial application solutions,and advanced packaging, among others.
4. The MLED business
The MLED business provides LED solutions with integrated R&D, manufacturing and marketing services. Focused on devices andsolutions, this business renders LED backlight products with high quality and reliability for TVs, monitors, notebooks, vehicles, 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. The Smart Engineering Medicine business
The Smart Engineering Medicine business adopts a professional service model to provide products, services and solutions in relationto medical care, smart nursing, medical-engineering integration, etc. Meanwhile, this business is committed to providing a closed loopof through-life health services with health management as the core, medical terminals as the traction, and digital hospitals andrecreational communities as the support. It connects testing equipment, healthcare workers and customers through the smart healthmanagement ecosystem where customers enjoy professional health services including prevention, treatment, therapy and nursing.
6. The “N” business
With a specific focus on the "N" business, the Company provides hardware and software integrated system solutions for differentsegments, including intelligent car networking, smart energy, industrial IoT, UHD display, etc., which can provide customers withmulti-functional and smart new experience under IoT scenarios.In terms of intelligent car networking, the business integrates DMS, gesture recognition, touch feedback, naked-eye 3D and otherfunctions, focuses on the intelligent cockpit "HERO" innovative application scenarios, and promote the continuous upgrading ofproducts and solutions in the field of vehicle-mounted display and interaction. One-stop products and services for automotive intelligentupgrading are provided, representing a new leading ecosystem of innovative and intelligent travel.In terms of the smart energy business, BOE focuses on zero-carbon integrated energy services. With BSEOS as the empoweringplatform, it revolves around various aspects of "source-grid-load-storage-carbon." It offers a zero-carbon implementation path of"source decarbonization, process decarbonization, end negative carbon, and intelligent carbon management," providing customers withcomprehensive energy services and utilization, and zero-carbon solutions.In terms of the industrial internet business, BOE is committed to providing industrial software, intelligent manufacturing solutions forthe pan-semiconductor industry. Leveraging over three decades of industry experience, BOE offers pan-semiconductor industrialsoftware, smart factory services, industrial AI, and other products and services, continuously driving high-quality development acrossthe industry.The ultra-high-definition display business has entered a new development stage with key ultra-high-definition technologies driving theindustrial chain of ultra-high-definition front-end capture, transmission, distribution, and terminal display, connecting the 8K ultra-high-definition video industry content production chain, and promoting the application of ultra-high-definition in visual arts and otherdigital scenarios.
3. Key Financial Information
(1) Key Financial Information of the Past Three Years
Indicate by tick mark whether there is any retrospectively restated datum in the table below.? Yes □ NoReason for retrospective restatement:
Change of accounting policy.
| Item | 31 December 2024 | 31 December 2023 | Change of 31 December 2024 on 31 December 2023 (%) | 31 December 2022 | ||
| Before | Restated | Restated | Before | Restated | ||
| Total assets (RMB) | 429,978,221,541.00 | 419,187,099,795.00 | 419,187,099,795.00 | 2.57% | 420,562,103,212.00 | 420,567,865,936.00 |
| Equity attributable to the listed company’s shareholders (RMB) | 132,937,555,308.00 | 129,428,307,067.00 | 129,428,307,067.00 | 2.71% | 136,089,410,395.00 | 136,086,175,204.00 |
| Item | 2024 | 2023 | 2024-on-2023 change (%) | 2022 | ||
| Before | Restated | Restated | Before | Restated | ||
| Operating revenue (RMB) | 198,380,605,661.00 | 174,543,445,895.00 | 174,543,445,895.00 | 13.66% | 178,413,731,179.00 | 178,413,731,179.00 |
| Net profit attributable to the listed company’s shareholders (RMB) | 5,323,248,974.00 | 2,547,435,360.00 | 2,547,435,360.00 | 108.97% | 7,550,877,790.00 | 7,541,423,198.00 |
| Net profit attributable to the listed company’s shareholders before exceptional gains and losses (RMB) | 3,837,124,867.00 | -632,561,344.00 | -632,561,344.00 | 706.60% | -2,228,652,161.00 | -2,238,106,753.00 |
| Net cash generated from/used in operating activities (RMB) | 47,737,577,379.00 | 38,301,826,884.00 | 38,301,826,884.00 | 24.64% | 43,021,967,305.00 | 43,021,967,305.00 |
| Basic earnings per share (RMB/share) | 0.14 | 0.06 | 0.06 | 133.33% | 0.19 | 0.19 |
| Diluted earnings per share (RMB/share) | 0.14 | 0.06 | 0.06 | 133.33% | 0.19 | 0.19 |
| Weighted average return on equity (%) | 4.05% | 1.89% | 1.89% | 2.16% | 5.45% | 5.45% |
Reason for accounting policy change and correction of accounting error:
As required by Interpretations No. 17 and No. 18 for the Accounting Standards for Business Enterprises issued by the Ministry ofFinance, the Group has retrospectively restated relevant financial statement items at the beginning of the year and in the same period
of last year. The said changes of accounting policies have no significant impact on the Company’s financial condition and operatingresults. The said changes of accounting policies have no significant impact on the above key accounting data and financial indicators.
(2) Key Financial Information by Quarter
Unit: RMB
| Item | Q1 | Q2 | Q3 | Q4 |
| Operating revenue | 45,887,570,444.00 | 47,498,671,188.00 | 50,345,285,330.00 | 54,649,078,699.00 |
| Net profit attributable to the listed company’s shareholders | 983,812,692.00 | 1,300,238,662.00 | 1,025,714,296.00 | 2,013,483,324.00 |
| Net profit attributable to the listed company’s shareholders before exceptional gains and losses | 596,689,345.00 | 1,016,714,036.00 | 694,457,953.00 | 1,529,263,533.00 |
| Net cash generated from/used in operating activities | 16,230,705,070.00 | 8,648,264,222.00 | 8,990,282,788.00 | 13,868,325,299.00 |
Indicate by tick mark whether any of the quarterly financial data in the table above or their summations differs materially from whathave been disclosed in the Company’s quarterly or interim reports.
□ Yes ? No
4. Share Capital and Shareholder Information at the Period-End
(1) Numbers of Ordinary Shareholders and Preferred Shareholders with Resumed Voting Rights as well asHoldings of Top 10 Shareholders
Unit: share
| Number of ordinary shareholders at the period-end | 1,165,289 (including 1,134,281 A-shareholders and 31,008 B-shareholders) | Number of ordinary shareholders at the month-end prior to the disclosure of this Report | 1,081,604 (including 1,051,184 A-shareholders and 30,420 B-shareholders) | ||||||
| Top 10 shareholders (exclusive of shares lent in refinancing) | |||||||||
| Name of shareholder | Nature of shareholder | Shareholding percentage | Total shares held at the period-end | Restricted shares held | Shares in pledge, marked or frozen | ||||
| Status | Shares | ||||||||
| Beijing State-owned Capital Operation and Management Company Limited | State-owned legal person | 10.79% | 4,063,333,333 | 0 | N/A | 0 | |||
| Hong Kong Securities Clearing Company Ltd. | Foreign legal person | 7.08% | 2,666,365,885 | 0 | N/A | 0 | |||
| Beijing BOE Investment & Development Co., Ltd. | State-owned legal person | 2.18% | 822,092,180 | 0 | N/A | 0 | |||
| Beijing Jing Guorui Soe Reform and Development Fund (L.P.) | Other | 1.91% | 718,132,854 | 0 | N/A | 0 | |||
| Hefei Jianxiang Investment Co., Ltd. | State-owned legal person | 1.77% | 666,195,772 | 0 | N/A | 0 | |||
| Industrial and Commercial Bank of China | Other | 1.69% | 637,914,147 | 0 | N/A | 0 | |||
| Co., Ltd.- Huatai-Pinebridge CSI 300 Exchange-Traded Fund | |||||||
| Fuqing Huirong Venture Capital Co., Ltd. | Domestic non-state-owned legal person | 1.43% | 538,599,640 | 0 | In pledge | 45,000,000 | |
| China Construction Bank Co., Ltd.- E Fund CSI 300 Initiating Exchange-Traded Fund | Other | 1.17% | 440,075,023 | 0 | N/A | 0 | |
| Abu Dhabi Investment Authority | Foreign legal person | 0.94% | 354,248,920 | 0 | N/A | 0 | |
| Perseverance Asset Management- Perseverance Xiaofeng No.2 Zhixin Fund | Other | 0.93% | 349,000,000 | 0 | N/A | 0 | |
| Related or acting-in-concert parties among the shareholders above | 1. Beijing State-owned Capital Operation and Management Company Limited indirectly held 100% equities of Beijing Jingguorui Investment Management Co., Ltd. and directly held 77.5918% shares of Beijing Jing Guorui Soe Reform and Development Fund (L.P.); Beijing Jingguorui Investment Management Co., Ltd. is the general partner of Beijing Jing Guorui Soe Reform and Development Fund (L.P.). In addition, among the nine members of the Investment Decision-Making Committee of Beijing Jing Guorui Soe Reform and Development Fund (L.P.), three are nominated by Beijing State-owned Capital Operation and Management Company Limited. 2. Except for the above relationships, the Company does not know any other connected party or acting-in-concert party among the top 10 shareholders. | ||||||
| Shareholders involved in securities margin trading (if any) | 1.The shares held by Industrial and Commercial Bank of China Co., Ltd.- Huatai-Pinebridge CSI 300 Exchange-Traded Fund in the Company increased by 140,700 shares due to refinancing shares return during the Reporting Period. 2.The shares held by Fuqing Huirong Venture Capital Co., Ltd. in the Company increased by 3,297,100 shares due to refinancing shares return during the Reporting Period. 3. The shares held by China Construction Bank Co., Ltd.- E Fund CSI 300 Initiating Exchange-Traded Fund. in the Company increased by 127,200 shares due to refinancing shares return during the Reporting Period. 4. Except for the aforesaid, as of the end of the Reporting Period, no shareholder among the top-10 ordinary shareholders of the Company was involved in securities refinancing. | ||||||
5% or greater shareholders, top 10 shareholders and Top 10 unrestricted shareholders involved in refinancing shares lending? Applicable □ Not applicable
Unit: share
| 5% or greater shareholders, top 10 shareholders and Top 10 unrestricted shareholders involved in refinancing shares lending | ||||||||
| Full name of shareholder | Shares in the common account and credit account at the period-begin | Shares lent in refinancing and not yet returned at the period-begin | Shares in the common account and credit account at the period-end | Shares lent in refinancing and not yet returned at the period-end | ||||
| Total shares | As % of total share capital | Total shares | As % of total share capital | Total shares | As % of total share capital | Total shares | As % of total share capital | |
| Industrial and Commercial Bank of China Co., Ltd.- Huatai-Pinebridge CSI 300 Exchange-Traded Fund | 279,619,047 | 0.74% | 140,700 | 0.00% | 637,914,147 | 1.69% | 0 | 0.00% |
| Fuqing Huirong Venture Capital Co., Ltd. | 535,302,540 | 1.42% | 3,297,100 | 0.01% | 538,599,640 | 1.43% | 0 | 0.00% |
| China Construction Bank Co., Ltd.- E Fund CSI 300 Initiating Exchange-Traded Fund | 105,023,223 | 0.28% | 127,200 | 0.00% | 440,075,023 | 1.17% | 0 | 0.00% |
Changes in top 10 shareholders and top 10 unrestricted shareholders due to refinancing shares lending/return compared with the prior
period
□Applicable ? Not applicable
(2) Number of Preferred Shareholders and Shareholdings of Top 10 of Them
□ Applicable ? Not applicable
No preferred shareholders in the Reporting Period.
(3) Ownership and Control Relations between the Actual Controller and the Company
Notes: 1. After the non-public issuing of the Company in 2014, Beijing State-owned Capital Operation and Management CompanyLimited handed over 70% of the shares directly held by it to Beijing Electronics Holdings Co., Ltd. for management through StockManagement Protocol, and Beijing Electronics Holdings Co., Ltd. gained the incidental shareholders’ rights except for disposing rightand usufruct of the shares, of which the rest 30% voting right maintained unanimous with Beijing Electronics Holdings Co., Ltd.through the agreement according to Implementation Protocol of Voting Right.
2. During the non-public issuing of the Company in 2021, Beijing Jing Guorui Soe Reform and Development Fund (L.P.) signed theActing-in-Concert Agreement with Beijing Electronics Holdings Co., Ltd.
5. Outstanding Bonds at the Date when this Report Was Authorized for Issue
□ Applicable ? Not applicable
Part III Significant Events
1. On 18 October 2019, the Company disclosed the Announcement on the Company’s Application for CSRC’s Approval for its PublicIssue of Renewable Corporate Bonds (Announcement No. 2019-052), and the Company received the No. [2019] 1801 Approval fromCSRC. Based on the approval, the Company could publicly issue the renewable corporate bonds with the nominal value no more thanRMB30 billion to qualified investors. The bond outstanding as of the end of this reporting period is as follows:
| Bond name | Abbr. | Bond code | Date of issue | Maturity |
| 2022 Public Offering of Renewable Corporate Bonds of BOE (for professional investors) (Digital Economy) (Phase I) | 22BOEY1 | 149861 | 24 March 2022 | 25 March 2025 |
The Company disclosed 2024 "22BOEY1" Interest Payment Announcement (Announcement No. 2024-005) on 21 March 2024. Theinterest payment plan was RMB35.00 (including tax) every ten bonds. The Company disclosed the Announcement on the PublicOffering of Corporate Bonds to Professional Investors Obtaining Registration Approval from the CSRC (Announcement No. 2024-052) on 9 October 2024. The Company received the CSRC Permit [2024] No. 1330, which agreed to the Company's public offering ofcorporate bonds with an aggregate nominal value of no more than RMB10 billion to professional investors. The Company disclosedthe Announcement on Not Exercising the Issuer’s Renewal Option for the 2022 Public Offering of Renewable Corporate Bonds of BOE(for professional investors) (Digital Economy) (Phase I) (Announcement No. 2025-008) on 11 February 2025, and the third anniversaryof 22BOEY1 fell on 25 March 2025. According to the relevant provisions of the Prospectus and the Listing Declaration, the Companydecides not to exercise the renewal option of bond issuer. That is, the current bonds were to be fully redeemed. As the Companydisclosed the Announcement on the Redemption of the Principal and Interest of the "22BOEY1" Corporate Bonds and the De-listingof the Bonds (Announcement No. 2025-010) on 21 March 2025, it would pay the interest of the bonds generated between 25 March2024 and 24 March 2025, as well as the principal of the bonds, on 25 March 2025, and de-list the bonds.
2. The Company disclosed the Announcement on Resignation of Director (Announcement No. 2024-001) on 24 January 2024, due tothe change of work, Mr. Pan Jinfeng applied for resignation as Director and Vice Chairman of the Board and will not hold any positionin the Company after his resignation. The Company disclosed the Announcement on Resignation of Director (Announcement No. 2024-004) on 13 March 2024, due to age, Mr. Liu Xiaodong applied for resignation as Director, Vice Chairman of the Board and Memberof Special Committee of the Board and will continue to serve as Member of the Executive Committee in the Company after hisresignation; Ms. Sun Yun applied for resignation as Director and Member of Special Committee of the Board and will continue toserve as Member of the Executive Committee and Executive Vice President in the Company after her resignation. The Companydisclosed the Announcement on Election of Non-Independent Directors of the 10
thBoard of Directors (Announcement No. 2024-018)on 2 April 2024. The Company disclosed the Announcement on Resolutions of the 2023 Annual General Meeting (Announcement No.2024-023) on 27 April 2024 which reviewed and approved the Proposal on Election of Non-Independent Directors of the 10
th
Boardof Directors, and Mr. Feng Qiang, Mr. Zhu Baocheng and Mr. Wang Xiping were elected as non-independent directors of the 10
th
Board of Directors of the Company. The Company disclosed the Announcement on Resolutions of the 30
th Meeting of the 10
th
Boardof Directors (Announcement No. 2024-028) on 28 May 2024 which reviewed and approved the Proposal on Election of Vice Chairmanof the 10
th Board of Directors, and Mr. Feng Qiang and Mr. Zhu Baocheng were elected by the Board as Vice Chairman of the 10
th
Board of Directors. The Company disclosed the Announcement on Resignation of Supervisor (Announcement No. 2024-031) on 13June 2024, due to job turnover, Mr. Sun Fuqing applied for resignation as a supervisor and will not hold any position in the Companyafter his resignation. The Company disclosed the Announcement on Resignation of Director (Announcement No. 2024-038) on 9 July2024, due to the change of work, Mr. Zhu Baocheng applied for resignation as Director and Vice Chairman of the Board and will nothold any position in the Company after his resignation. The Company disclosed the Announcement on Resolutions of the 32
nd
Meetingof the 10
th
Board of Directors (Announcement No. 2024-042) on 25 July 2024 which reviewed and approved the Proposal on Adjustingthe Composition of the Company’s Executive Committee and Appointing Senior Management. Mr. Feng Qiang, a current seniormanagement of the Company, was promoted from a member of the Executive Committee and Executive Vice President to ViceChairman of the Executive Committee; and Mr. Liu Zhiqiang was appointed by the Board as a member of the Executive Committeeand Senior Vice President of the Company. The Company disclosed the Announcement on Resolutions of the 1
stExtraordinary GeneralMeeting in 2024 (Announcement No. 2024-040) on 25 July 2024 which reviewed and approved the Proposal on Election of Supervisorof the 10
th
Supervisory Committee, and Mr. Song Ligong was elected as a supervisor of the 10
thSupervisory Committee. The Companydisclosed the Announcement on Resignation of Senior Management (Announcement No. 2024-041) on 25 July 2024, due to age, Mr.Liu Xiaodong applied for resignation as a member of the Executive Committee of the Company and will continue to work in theCompany responsible for promoting major projects of the Company. The Company disclosed the Announcement on Resignation ofSenior Management (Announcement No. 2024-051) on 21 September 2024, due to job transfer, Mr. Zhang Yu applied for resignationas a member of the Executive Committee and Executive Vice President and will not hold any position in the Company after hisresignation. The Company disclosed the Announcement on Resignation of Director (Announcement No. 2024-053) on 16 October2024, due to work arrangement, Mr. Wu Lishun applied for resignation as director and the relevant positions of Special Committee ofthe Board in the Company and will not hold any position in the Company after his resignation. The Company disclosed the
Announcement on Resolutions of the 38
th
Meeting of the 10
thBoard of Directors (Announcement No. 2024-054) on 31 October 2024which reviewed and approved the Proposal on Appointment of Senior Management of the Company, and both Mr. Liu Jing and Mr.Yun Xiangnan were appointed by the Board as a member of the Executive Committee and Vice President. The Company disclosed theAnnouncement on Resolutions of the 2
ndExtraordinary General Meeting in 2024 (Announcement No. 2024-069) on 16 November2024 which reviewed and approved the Proposal on Election of Non-Independent Directors of the 10
thBoard of Directors, and Mr.Guo Chuan was elected as a non-independent director of the 10
th
Board of Directors of the Company. The Company disclosed theAnnouncement on Resolutions of the 1
stExtraordinary General Meeting in 2025 (Announcement No. 2025-002), Announcement onResolutions of the 1
st
Meeting of the 11
thBoard of Directors (Announcement No. 2025-005) and Announcement on Resolutions of the
st
Meeting of the 11
thSupervisory Committee (Announcement No. 2025-006) on 15 January 2025, which reviewed and approvedproposals related to general election and completed the general election. For more details, please refer to relevant announcements.
3. On 13 June 2024, the Company disclosed the Announcement on the Distribution of the 2023 Final Dividend (Announcement No.2024-030). As the 2023 Final Dividend Plan had been approved at the 2023 Annual General Meeting on 26 April 2024, the Companydistributed a 2023 final dividend of RMB0.3 per 10 shares (dividend to B-shareholders paid in HKD according to the central parityrate of RMB and HKD declared by the People’s Bank of China on the first working day immediately after the date of the relevantgeneral meeting resolution), with no bonus issue from either profit or capital reserves.
4. Following the approval of the Proposal on the Repurchase of Some Public Shares at the 38th Meeting of the 10th Board of Directors,the Company disclosed the Announcement on the Repurchase of Some Public Shares (Announcement No. 2024-061) on 31 October2024. On 14 November 2024, the Company disclosed the Voluntary Information Disclosure Announcement on Receiving a Letter ofLoan Commitment and Obtaining Financing Support for Share Repurchase (Announcement No. 2024-066). The Company receiveda Letter of Loan Commitment issued by Beijing Branch of Industrial and Commercial Bank of China Co., Ltd., committing to providethe Company with a special loan of RMB700 million (not exceeding 70% of the repurchase transaction price) for share repurchase.The Company carried out the first repurchase on 22 November 2024 and disclosed the Announcement on the First Repurchase of SomePublic Shares (Announcement No. 2024-072) on 23 November 2024. On 3 January 2025, the Company disclosed the Announcementon the Completed Implementation of Share Repurchase Programme and Repurchase Implementation Results (Announcement No.:
2025-001). As at 31 December 2024, the Company has implemented the repurchase of the Company's shares by means of centralizedbidding through a special securities account for the repurchase, and the cumulative number of A Shares repurchased was 228,882,900,accounting for approximately 0.62% of the Company's A Shares and 0.61% of the Company's total share capital, with the highesttransaction price of RMB4.46 per share and the lowest transaction price of RMB4.22 per share. The total amount paid wasRMB999,872,378 (exclusive of transaction costs). The above repurchase of the Company was in line with the requirements of relevantlaws and regulations, as well as the established repurchase programme of the Company.
| Overview of significant event | Disclosure date | Disclosure website |
| Announcement on Investing in Beijing Electric Control Integrated Circuit Manufacturing Co., Ltd. and the Related-party Transaction | 16 November 2024 | www.cninfo.com.cn |
| Announcement on BEHC Industrial Investment Co., Ltd.’s Intention to Invest in Beijing Xianzhi Chain Phase II Venture Investment Fund (Limited Partnership) and Beijing Xianzhi Chain Enterprise Management Center (Limited Partnership) and the Related-party Transaction | 24 December 2024 | www.cninfo.com.cn |
Chairman of the Board (signature): Mr. Chen Yanshun
Date of the Board’s approval of this Report: 18 April 2025