HARBIN BOSHI AUTOMATION CO. LTD. Interim Report for the Third Quarter 2024

HARBIN BOSHI AUTOMATION CO. LTD. Interim Report for

The Third Quarter 2024

The Company and whole members of the Board of Directors guarantee that the information disclosed

is factual accurate and complete and there is no false record misleading statement or material

omission.Important content reminder:

1.The Board of Directors the Board of Supervisors as well as all the directors supervisors and senior

managers of HARBIN BOSHI AUTOMATION CO. LTD. (hereinafter referred to as “the Company”)

warrant the factuality accuracy and completeness of this Report and there is no false record

misleading statement or material omission. And they will be severally and jointly liable for this Report.

2.The person in charge of the Company the person in charge of accounting work of the Company and

the person in charge of accounting department of the Company warrant that the financial information

in this Report is factual accurate and complete.

3. Whether this Third Interim Report has been audited by auditing firm or not

□Yes √No

1HARBIN BOSHI AUTOMATION CO. LTD. Interim Report for the Third Quarter 2024

I. Main financial data

1. Main accounting data and financial indicators

Indicate by check mark if there is any retrospectively restated accounting data of previous years.□Yes √No

Increase/decrease in the Increase/decrease from

period compared with the year-begin to period-end

Current period Year-begin to period-end

same period of the previous compared with the same period

year of the previous year

Operating Revenue (RMB) 712735460.01 20.21% 2164678881.70 9.20%

Net profit attributable to parent

company’s shareholders 183508513.17 85.12% 456225297.69 4.98%

(RMB)

Net profit after deducting

non-recurring

profit or loss attributable to 174848694.35 90.13% 431574091.35 7.40%

shareholders of the parent

company (RMB)

Net cash flow from operating

————447884786.418352.29%

activities (RMB)

Basic earnings per share

0.180786.48%0.44915.67%

(RMB /share)

Diluted earnings per share

0.178684.31%0.44515.47%

(RMB /share)

Weighted average return on

5.11%2.11%12.69%-0.57%

equity

End of the current reporting Increase/decrease at the period-end compared with the end of

End of previous year

period the previous year

Total assets (RMB) 6640391547.82 6648692787.99 -0.12%

Total equity attributable to

shareholders of the parent 3684584455.30 3450338131.69 6.79%

company (RMB)

2HARBIN BOSHI AUTOMATION CO. LTD. Interim Report for the Third Quarter 2024

2. Non-recurring gains and losses

√ Applicable □Not applicable

Unit: RMB

Amount from year-begin to

Item Amount for the period Note

period-end

Profit or loss from disposal of non-current assets (including the

-13088.68-529474.76

write-off of accrued for impairment of assets)

Governmental subsidy reckoned into current gains or losses (excluding

the subsidy enjoyed in quota or ration according to the national policy

5151150.5411968245.48

regulations and certain standards which are closely relevant to

enterprise’s business)

Except for effectively hedging business related to normal business

operations of financial Company profit or loss arising from the

Income from cash

changes in the fair value of financial assets financial liabilities by 7581359.62 19755992.30

management

non-financial enterprises as well as investment income from the

disposal of financial assets and financial liabilities.Other non-operating income and expenses other than the above -2275173.27 -2215179.74

Other gain/loss items that qualified the definition of non-recurring

103049.27

profit (gains)/losses

Less: Impact on income tax 1630761.06 3775152.59

Impact on minority shareholders’ equity (after tax) 153668.33 656273.62

Total 8659818.82 24651206.34 --

Other gain/loss items that qualified the definition of non-recurring profit (gains)/losses:

√Applicable □Not applicable

Other gain/loss items that qualified the definition of non-recurring profit (gains)/losses: Income from

treasury reverse repos (cash management).Explanation on those non-recurring gain/loss listed in the “Q&A Announcement No.1 on InformationDisclosure for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss” defined as

recurring gain/loss.□ Applicable √ Not applicableThe Company does not have the non-recurring gain/loss listed in the “Q&A Announcement No.1 onInformation Disclosure for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss”

3HARBIN BOSHI AUTOMATION CO. LTD. Interim Report for the Third Quarter 2024

defined as recurring gain/loss.

3. Particulars about changes in items of main accounting data and financial index and explanations of

reasons.Sep 302024 Dec 312023

Consolidated Balance Sheet items Change Reasons for the changes

(RMB) (RMB)

Mainly due to the impact on cash management

Cash and cash equivalent 630358005.21 332216413.35 89.74%

activities.Mainly due to the impact on cash management

Financial assets held for trading 1133752754.06 802248744.33 41.32%

activities.Mainly due to the impact on cash management

Other current assets 12998656.95 615166444.19 -97.89%

activities.Part of the construction of robot and intelligent

Fixed assets 300837247.25 229647272.08 31.00% factory industrialization production project were

transferred to fixed assets in the current period.Part of the construction of robot and intelligent

Construction in progress 47565640.43 74985542.78 -36.57% factory industrialization production project were

transferred to fixed assets in the current period.Increases in long-term product quality guarantee

Other non-current assets 76336536.96 23114349.36 230.26% and the prepayment of real estate purchases for

industrial service business.Increases in bank short-term borrowing by

Short-term loans 32559703.86 23872075.01 36.39%

subsidiary.The year-end bonus of 2023 accrued at the end of

Employee benefits payable 21232277.48 76649155.81 -72.30% the previous period which was paid at the

beginning of 2024 and the balance decreased.Value-added tax payable and corporate income

Taxes payable 43228658.16 20117689.42 114.88%

tax payable increased at the end of the period.Dividends payable by subsidiaries were actually

Other payables 16470259.32 30001942.32 -45.10%

paid during the period.Dividends payable by subsidiaries were actually

Thereof: Dividend payable 4900000.00 24500000.00 -80.00%

paid during the period.Due to the decrease in undue endorsed acceptance

Other current liabilities 112863753.01 163555006.18 -30.99%

bills which were not terminated.Increase in provision for product quality

Estimated liabilities 9988153.07 7137432.08 39.94%

guarantee accrued.Deferred income 1507500.00 4023518.90 -62.53% This period was transferred to other income.Mainly affected by the capital reserve formed by

Capital reserve 352387897.84 236467353.62 49.02%

the IPO capital stock premium of the associated

4HARBIN BOSHI AUTOMATION CO. LTD. Interim Report for the Third Quarter 2024

company Bloom Technology.Treasury shares 100134294.12 8865506.80 1029.48% Due to Company shares buy-back.Mainly affected by changes in the fair value of

Other comprehensive income 29584845.31 22252223.39 32.95%

investments in other equity instruments.Consolidated Income Statement items from Jan 1 to Sep 302024 Jan 1 to Sep 30 2023

the beginning of the year to the end of the Change Reasons for the changes

reporting period (RMB) (RMB)

Joint influenced by interest expenses increased

Financial expenses 6380621.41 -490595.60 1400.59%

and interest expenses decreased.Thereof : Interest expenses 10917471.91 8342075.54 30.87% Interest expenses increased year-on-year.Interest income 6141233.15 9006178.08 -31.81% Interest income decreased year-on-year.The value-added tax refund received from sales of

Other income 99218255.00 64004359.76 55.02% product with software and value-added input tax

additional deduction increased year-on-year.The investment income accrued in associates

Investment income (loss is stated with “-”) 1995856.69 4289834.84 -53.47

decreased this period.Thereof: Investment income from The investment income accrued in associates

-12230126.29-9363612.21-30.61%

associates and joint ventures decreased this period.Gains from changes in fair value (loss is Mainly due to the impact on cash management

5633058.598915503.57-36.82%

stated with “-”) activities.Credit impairment losses (loss is stated Due to the impact on the provision for bad debts

-19172394.44-28508702.98-32.75%

with “-”) accrued increased.Consolidated Cash Flow Statement items Jan 1 to Sep 302024 Jan 1 to Sep 30 2023

from the beginning of the year to the end of Change Reasons for the changes

the reporting period (RMB) (RMB)

Jointly affected by the increase in cash received

Net cash flows from operating activities 447884786.41 -5427399.95 8352.29% from customer and the decrease in operating

payments.Mainly due to the impact on cash management

Net cash flows from investing activities 201484742.31 -184260513.13 209.35%

activities.Mainly due to the joint influence of the share

Net cash flows from financing activities -353912447.77 -279519211.45 -26.61% buy-back and the increase in cash dividends

actually paid by subsidiaries this period.

5HARBIN BOSHI AUTOMATION CO. LTD. Interim Report for the Third Quarter 2024

II. Shareholders Information

1. Total number of common shareholders and preference shareholders with voting rights recovered

and top ten common shareholders

Unit: Share

Total preference

Total number of shareholders of common shareholders with voting

324220

stocks at the end of the reporting period rights recovered at end of

reporting period

Top 10 shareholders(Excluding shares lent in refinancing)

Amount of Pledged marked or

Amount of shares

Name Nature Ownership restricted shares frozen stocks

held

held Status Amount

Unicom-Xinwo Venture Capital Management

(Shanghai) Co. Ltd. - Lianchuang Weilai

Others 14.20% 145176676 Not applicable

(Wuhan) Intelligent Manufacturing Industrial

Investment Partnership (Limited Partnership)

Deng Xijun Domestic natural person 9.41% 96181562 72136172 Not applicable

Zhang Yuchun Domestic natural person 8.09% 82696357 62022268 Not applicable

Wang Chungang Domestic natural person 5.61% 57394047 43045535 Not applicable

Cai Zhihong Domestic natural person 4.96% 50677029 Not applicable

Cai Hegao Domestic natural person 4.89% 50000000 Not applicable

Harbin Institute of Technology Asset Domestic state-owned

3.00% 30678500 Not applicable

Management Co. Ltd corporate

Cheng Fang Domestic natural person 1.52% 15538896 Not applicable

Tan Jianxun Domestic natural person 1.31% 13443938 Not applicable

Liu Meixia Domestic natural person 1.04% 10639500 Not applicable

Top 10 shareholders with unrestricted shares held(Excluding shares lent in refinancing and executive lock-in shares)

Type and amount of shares

Name Amount of unrestricted shares held

Type Amount

Unicom-Xinwo Venture Capital Management

(Shanghai) Co. Ltd - Lianchuang Weilai

145176676 RMB ordinary shares 145176676

(Wuhan) Intelligent Manufacturing Industrial

Investment Partnership (Limited Partnership)

Cai Zhihong 50677029 RMB ordinary shares 50677029

Cai Hegao 50000000 RMB ordinary shares 50000000

Harbin Institute of Technology Asset

30678500 RMB ordinary shares 30678500

Management Co. Ltd

6HARBIN BOSHI AUTOMATION CO. LTD. Interim Report for the Third Quarter 2024

Deng Xijun 24045390 RMB ordinary shares 24045390

Zhang Yuchun 20674089 RMB ordinary shares 20674089

Cheng Fang 15538896 RMB ordinary shares 15538896

Wang Chungang 14348512 RMB ordinary shares 14348512

Tan Jianxun 13443938 RMB ordinary shares 13443938

Liu Meixia 10639500 RMB ordinary shares 10639500

Shareholders holding more than 5% of the shares the top 10 shareholders and the top 10 shareholders of

unrestricted tradable shares participate in the lending of shares in the refinancing business.□Applicable √Not applicable

The top 10 shareholders and the top 10 shareholders of unrestricted tradable shares have changed compared

with the previous period due to the refinancing lending/repayment.□Applicable √Not applicable

2.The total number of preferred shareholders and the top 10 preferred shareholders’ shareholdings of

the Company

□Applicable √Not applicable

III. Other Significant Events

th

The Company held the 11 meeting of the fifth Board of Directors and the eighth meeting of the fifth Board

th

of Supervisors on September 11 2024 to consider and pass the Motion on the Company’s 2024 Employee

Stock Ownership Plan (Draft) and Its Summary which has been considered and passed by the first

rd th

Extraordinary General Meeting of 2024 held on September 23 2024. On October 15 2024 the

non-trading transfer of the employee stock ownership plan was completed. For details please refer to the

relevant announcements disclosed by the Company in the Securities Times and cninfo.com.cn.

7HARBIN BOSHI AUTOMATION CO. LTD. Interim Report for the Third Quarter 2024

IV. Quarterly Financial Statements

1. Financial statements

(1)Consolidated Balance Sheet

Prepared by HARBIN BOSHI AUTOMATION CO. LTD.Sep 30 2024 Unit: RMB

Item Sep 302024 Jan 1 2024

Current assets:

Cash and cash equivalent 630358005.21 332216413.35

Financial assets held for trading 1133752754.06 802248744.33

Derivative financial assets

Notes receivable 224388498.07 273519045.87

Accounts receivable 1093247789.62 1004337478.08

Financing receivable 70147840.84 72533260.37

Advance payment 89838724.31 77455740.98

Other receivables 27418977.01 30774548.13

Thereof: Interest receivable

Dividend receivable 2600701.32 2601281.28

Inventories 2115260350.45 2405309228.52

Contract assets 138426111.81 119436138.29

Assets held for sale

Non-current assets due within one year 4435252.44 4434380.89

Other current assets 12998656.95 615166444.19

Total current assets 5540272960.77 5737431423.00

Non-current assets:

Debt investments

Other debt investments

Long-term receivable 16713771.56 16425314.82

Long-term equity investment 491258220.35 404005942.77

Investment in other equity instruments 61574626.74 55443728.57

Other non-current financial assets

Investment real estate 11247016.00 11771642.38

Fixed assets 300837247.25 229647272.08

8HARBIN BOSHI AUTOMATION CO. LTD. Interim Report for the Third Quarter 2024

Construction in progress 47565640.43 74985542.78

Productive biological assets

Oil and gas assets

Right-of-use assets 4375745.50 4912571.51

Intangible assets 50464802.16 53974953.86

Development expenditure

Goodwill 401878.10 401878.10

Long-term deferred expenses 291685.75 106486.62

Deferred income tax assets 39051416.25 36471682.14

Other non-current assets 76336536.96 23114349.36

Total non-current assets 1100118587.05 911261364.99

Total assets 6640391547.82 6648692787.99

Current liabilities:

Short-term loans 32559703.86 23872075.01

Financial liabilities held for trading

Derivative financial liabilities

Notes payable

Accounts payable 259663320.50 337812103.72

Advance from customers 193500.00 96750.00

Contract liabilities 1644416795.35 1763411436.97

Employee benefits payable 21232277.48 76649155.81

Taxes payable 43228658.16 20117689.42

Other payables 16470259.32 30001942.32

Thereof: Interest payable

Dividend payable 4900000.00 24500000.00

Liabilities held for sale

Non-current liabilities due within one year 1989200.90 2470313.79

Other current liabilities 112863753.01 163555006.18

Total current liabilities 2132617468.58 2417986473.22

Non-current liabilities:

Long-term loans

Bonds payable 443931059.04 431953084.05

Thereof: Preferred stock

Perpetual debt

Lease liabilities 810440.86 1374283.98

9HARBIN BOSHI AUTOMATION CO. LTD. Interim Report for the Third Quarter 2024

Long-term payables

Long-term employee benefits payable

Estimated liabilities 9988153.07 7137432.08

Deferred income 1507500.00 4023518.90

Deferred income tax liability 16639692.46 16429627.86

Other non-current liabilities 190068117.16 172145404.60

Total non-current liabilities 662944962.59 633063351.47

Total Liabilities 2795562431.17 3051049824.69

Shareholders' equity:

Share capital 1022558657.00 1022556602.00

Other equity instruments 32093784.17 32096067.08

Thereof: Preferred stock

Perpetual debt

Capital reserve 352387897.84 236467353.62

Minus: treasury shares 100134294.12 8865506.80

Other comprehensive income 29584845.31 22252223.39

Special reserve 28758771.01 28883002.75

Surplus reserve 355000124.41 355000124.41

General risk reserve

Retained earnings 1964334669.68 1761948265.24

Total equity attributable to shareholders of parent

3684584455.303450338131.69

company

Minority shareholder equity 160244661.35 147304831.61

Total shareholders' equity 3844829116.65 3597642963.30

Total liabilities and shareholders' equity 6640391547.82 6648692787.99

Legal representative: Deng Xijun Director of Finance: Sun Zhiqiang Prepared by: Wang Peihua

(2)Consolidated Income Statement (from the year-begin to the period-end)

Unit: RMB

Item Current period Last period

1. Total revenue 2164678881.70 1982264381.09

Thereof : Operating revenue 2164678881.70 1982264381.09

2. Total cost 1696584007.99 1502853525.07

10HARBIN BOSHI AUTOMATION CO. LTD. Interim Report for the Third Quarter 2024

Thereof: Cost of sales 1412446988.30 1233296151.56

Taxes and surcharges 15073215.88 12204221.24

Selling expenses 109186176.85 85229051.95

General and administrative expenses 70405753.18 64034974.28

Research and development expenses 83091252.37 108579721.64

Financial expenses 6380621.41 -490595.60

Thereof : Interest expenses 10917471.91 8342075.54

Interest income 6141233.15 9006178.08

Add: Other income 99218255.00 64004359.76

Investment income (loss is stated with “-”) 1995856.69 4289834.84

Thereof: Investment income from associates and joint

-12230126.29-9363612.21

ventures

Gain from the derecognition of the financial assets measured

at amortized cost

Exchange income (Loss is listed with “-”)

Net exposure hedging gains ("-" for losses)

Gains from changes in fair value (loss is stated with “-”) 5633058.59 8915503.57

Credit impairment losses (loss is stated with “-”) -19172394.44 -28508702.98

Asset impairment losses (loss is stated with “-”) -8035852.42 -7918363.38

Gains from disposal of assets (loss is stated with “-”) -529474.76 -8374.20

3. Operating profit (loss is stated with “-”) 547204322.37 520185113.63

Add: Non-operating income 119033.81 6878543.11

Less: Non-operating expenses 2334213.55 2438608.30

4. Total profit (loss is stated with “-”) 544989142.63 524625048.44

Less: Income tax expenses 70062405.24 65535949.00

5. Net profit (loss is stated with “-”) 474926737.39 459089099.44

(1) Classified by continuity of operations

Net profit from continuing operations(loss is stated with “-”) 474926737.39 459089099.44

Net profit from discontinued operations(loss is stated with “-”)

(2) Classified by ownership of the equity

Attributable to shareholders of the Parent Company 456225297.69 434596978.99

Minority interests 18701439.70 24492120.45

6. Other comprehensive income net of tax 7332621.92 3223150.31

Other comprehensive income attributable to shareholders of the

7332621.923223150.31

Parent Company net of tax

(1) Other comprehensive income items which will not be 7378686.01 3064823.12

11HARBIN BOSHI AUTOMATION CO. LTD. Interim Report for the Third Quarter 2024

reclassified subsequently to profit or loss

1) Changes arising from re-measurement of defined benefit

plan

2) Other comprehensive income that will not be transferred

subsequently to profit or loss under the equity method

3) Changes in the fair value of the investment in other

7378686.013064823.12

equity instruments

4)Changes in the fair value of the Company’s own credit

risk

5)Others

(2) Other comprehensive income items which will be reclassified

-46064.09158327.19

subsequently to profit or loss

1) Other comprehensive income that will be transferred

-46064.09158327.19

subsequently to profit or loss under the equity method

2)Changes in the fair value of other debt investments

3)Amount of financial assets reclassified and included in

other comprehensive income

4) Credit impairment reserves for other debt investment

5) Cash flow hedging reserve

6) Translation differences arising from translation of

foreign currency financial statements

7)Others

Other comprehensive income attributable to minority shareholders

net of tax

7. Total comprehensive income 482259359.31 462312249.75

Attributable to shareholders of the Parent Company 463557919.61 437820129.30

Minority interests 18701439.70 24492120.45

8. Earnings per share

(1) Basic earnings per share 0.4491 0.4250

(2) Diluted earnings per share 0.4451 0.4220

Legal representative: Deng Xijun Director of Finance: Sun Zhiqiang Prepared by: Wang Peihua

12HARBIN BOSHI AUTOMATION CO. LTD. Interim Report for the Third Quarter 2024

(3)Consolidated Cash Flow Statement (from the year-begin to the period-end)

Unit: RMB

Item Current period Last period

1. Cash flows from operating activities

Cash received from sales of goods or rendering of services 1858228904.96 1703590738.01

Refund of taxes and surcharges 68307102.17 63464496.91

Other cash receipts relating to operating activities 20304134.78 21903956.89

Sub-total of cash inflows from operating activities 1946840141.91 1788959191.81

Cash paid for goods and services 806474756.19 1073881310.04

Cash paid to employees and paid on behalf of employees 428384700.63 387631625.11

Payments of taxes and surcharges 159292087.67 208747338.47

Other cash payments relating to operating activities 104803811.01 124126318.14

Sub-total of cash outflows from operating activities 1498955355.50 1794386591.76

Net cash flows from operating activities 447884786.41 -5427399.95

2. Cash flows from investing activities

Cash received from withdrawing investments 5235825280.00 3968708440.38

Cash received from investment income 40667719.80 23357432.93

Net cash received from disposal of fixed assets intangible assets and

385291.7092495.56

other long term assets

Net cash received from disposal of subsidiaries and other operating

units

Other cash receipts relating to investing activities 163265.00 653071.00

Sub-total of cash inflows from investing activities 5277041556.50 3992811439.87

Cash paid to acquire fixed assets intangible assets and other

81279655.6984038953.00

long-term assets

Cash paid to acquire investments 4993663330.00 4093013000.00

Net increase of mortgaged loans

Net cash paid to acquire subsidiaries and other operating units

Other cash payments relating to investing activities 613828.50 20000.00

Sub-total of cash outflows from investing activities 5075556814.19 4177071953.00

Net cash flows from investing activities 201484742.31 -184260513.13

3. Cash flows from financing activities

Cash received from capital contributions 885000.00 1590000.00

Thereof: Cash received by subsidiaries from minority shareholders’

885000.001590000.00

capital contributions

13HARBIN BOSHI AUTOMATION CO. LTD. Interim Report for the Third Quarter 2024

Cash received from borrowings 34858278.57 17930000.00

Other cash receipts from financing activities 1215000.00

Sub-total of cash inflows from financing activities 36958278.57 19520000.00

Cash repayments of borrowings 19000000.00 24260000.00

Distribution of dividends or profits and payments for interest

277919266.56257440719.33

expenses

Thereof: Cash payments for dividends or profit to minority

21192500.00

shareholders by subsidiaries

Other cash payments relating to financing activities 93951459.78 17338492.12

Sub-total of cash outflows from financing activities 390870726.34 299039211.45

Net cash flows from financing activities -353912447.77 -279519211.45

4. Effect of foreign exchange rate changes on cash and cash equivalents -24881.08 921209.91

5. Net increase in cash and cash equivalents 295432199.87 -468285914.62

Add: Cash and cash equivalents at the beginning of period 330325705.08 656593226.15

6. Cash and cash equivalents at the end of period 625757904.95 188307311.53

2. Adjustments to financial report at the beginning of the year relating to the initial adoption of the

new accounting standards since 2024.□Applicable √Not applicable

3. Auditor’s report

Whether this Third Interim Report has been audited by auditing firm or not

□Yes √No

The Third Interim Report has not been audited by auditing firm.Board of Directors

HARBIN BOSHI AUTOMATION CO. LTD.th

October 30 2024

14