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深华发B:2020年第一季度报告全文(英文版) 下载公告
公告日期:2020-04-30

Shenzhen Zhongheng Huafa Co., Ltd.

First Quarterly Report 2020

April 2020

Section I. Important Notes

Board of Directors and the Supervisory Committee of Shenzhen ZhonghengHuafa Co., Ltd (hereinafter referred to as the Company) and its directors,supervisors and senior executives should guarantee the reality, accuracy andcompletion of the quarterly report, there are no any fictitious statements,misleading statements or important omissions carried in this report, and shalltake legal responsibilities, individual and/or joint.All Directors are attended the Board Meeting for Quarterly Report deliberation.Li Zhongqiu, person in charge of the Company, Yang Bin, person in charger ofaccounting works and Wu Ai’jie, person in charger of accounting organ(accounting officer) hereby confirm that the Financial Statement of thisQuarterly Report is authentic, accurate and complete.

Section II. Basic situation of the Company

I. Main accounting data and financial indexesWhether it has retroactive adjustment or re-statement on previous accounting data

□Yes √ No

Current periodAt the same period of last yearChanges of this period over same period of last year
Operating income (RMB)87,800,584.55143,921,648.63-38.99%
Net profit attributable to shareholders of the listed company (RMB)-400,741.17258,233.98-255.19%
Net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses (RMB)-208,179.52196,868.38-205.75%
Net cash flow arising from operating activities (RMB)7,931,308.5919,403,902.99-59.13%
Basic earnings per share (RMB/Share)-0.00140.0009-255.56%
Diluted earnings per share (RMB/Share)-0.00140.0009-255.56%
Weighted average ROE-0.12%0.08%-0.20%
At the end of the reporting periodAt the end of last yearChanges of this period-end over same period-end of last year
Total assets (RMB)620,319,821.75614,163,899.861.00%
Net assets attributable to shareholder of listed company (RMB)329,027,308.72329,428,049.89-0.12%

Items and amount of non-recurring gains and losses

√ Applicable □ Not applicable

In RMB

ItemAmount from year-begin to period-endNote
Gains/losses from the disposal of non-current asset (including the write-off that accrued for impairment of assets)-253,414.02
Gain or loss on the investment or management of assets37,415.02
Other non-operating income and expenditure except for the aforementioned items-10,052.54
Less: impact on income tax-33,489.89
Total-192,561.65--

Concerning the extraordinary profit (gain)/loss defined by Q&A Announcement No.1 on Information Disclosure for CompaniesOffering Their Securities to the Public --- Extraordinary Profit/loss, and the items defined as recurring profit (gain)/loss according tothe lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering TheirSecurities to the Public --- Extraordinary Profit/loss, explain reasons

□ Applicable √ Not applicable

In reporting period, the Company has no particular about items defined as recurring profit (gain)/loss according to the lists ofextraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities tothe Public --- Extraordinary Profit/loss

II. Total number of shareholders at the end of this report period and top ten shareholders

1. Total number of common shareholders at the end of this report period and top ten common shareholders

In shares

Total common stock shareholders in reporting period-end24,131Total preference shareholders with voting rights recovered at end of reporting period (if applicable)0
Top ten shareholders
Shareholder’s nameNature of shareholderProportion of shares heldAmount of shares heldAmount of restricted shares heldNumber of share pledged/frozen
State of shareAmount
Wuhan Zhongheng GroupDomestic non-state-owned legal person42.13%119,289,8940Pledged116,100,000
Frozen119,289,894
SEG (HONG KONG) CO., LTD.Overseas legal person5.85%16,569,5600Pledged0
Frozen0
GOOD HOPE CORNER INVESTMENTS LTDOverseas legal person3.40%9,722,0000Pledged0
Frozen0
Changjiang Securities Brokerage (Hongkong) Co., Ltd.Overseas legal person1.89%5,355,2490Pledged0
Frozen0
Guoyuan Securities Brokerage (Hong Kong) LimitedOverseas legal person1.36%3,870,1170Pledged0
Frozen0
Li ZhongqiuOverseas legal person1.00%2,830,0000Pledged0
Frozen0
Zhong JiachaoDomestic nature person0.47%1,329,6020Pledged0
Frozen0
LI SHERYN ZHAN MINGOverseas legal person0.36%1,002,8000Pledged0
Frozen0
Li SenzhuangDomestic nature person0.35%989,3500Pledged0
Frozen0
Han YamingDomestic nature person0.31%864,2000Pledged0
Frozen0
Top ten shareholders with unrestricted shares held
Shareholder’s nameAmount of unrestricted shares heldType of shares
TypeAmount
Wuhan Zhongheng Group119,289,894RMB common share119,289,894
SEG (HONG KONG) CO., LTD.16,569,560Domestically listed foreign shares16,569,560
GOOD HOPE CORNER INVESTMENTS LTD9,722,000Domestically listed foreign shares9,722,000
Changjiang Securities Brokerage (Hongkong) Co., Ltd.5,355,249Domestically listed foreign shares5,355,249
Guoyuan Securities Brokerage (Hong Kong) Limited3,870,117Domestically listed foreign shares3,870,117
Li Zhongqiu2,830,000Domestically listed foreign shares2,830,000
Zhong Jiachao1,329,602Domestically listed foreign shares1,329,602
LI SHERYN ZHAN MING1,002,800Domestically listed foreign shares1,002,800
Li Senzhuang989,350Domestically listed foreign989,350
shares
Han Yaming864,200Domestically listed foreign shares864,200
Explanation on associated relationship among the aforesaid shareholdersAmong the top ten shareholders, Li Zhongqiu is the actual controller of Wuhan Zhongheng New Science & Technology Industrial Group Co., Ltd. and is a party acting in concert. The Company neither knew whether there exists associated relationship among the other shareholders, nor they belong to consistent actors that are prescribed in Measures for the Administration of Disclosure of Shareholder Equity Changes of Listed Companies.
Explanation on top 10 common shareholders involving margin business (if applicable)Among the top ten shareholders, Zhong Jiachao held 795,602 shares through ordinary accounts, 534,000 shares through credit securities accounts, and total held 1,329,602 shares.

Whether top ten common shareholders or top ten common shareholders with un-restrict shares held have a buy-back agreementdealing in reporting period

□ Yes √ No

The top ten common shareholders or top ten common shareholders with un-restrict shares held of the Company have no buy-backagreement dealing in reporting period.

2. Total shareholders with preferred stock held and shares held by top ten shareholders with preferredstock held

□ Applicable √ Not applicable

Section III. Significant EventsI. Particulars about material changes in items of main accounting statement and financialindex and explanations of reasons

√Applicable □Not applicable

Item2020-3-312020-1-1Y-o-y changesReasons of changes
Money funds32,816,423.2938,095,501.00-13.86%
Accounts receivable124,682,499.69138,755,691.43-10.14%
Receivable financing55,390,096.4342,096,834.0231.58%Note receivable increased in the period
Prepayments34,827,689.4423,007,637.4651.37%Account paid in advance for materials increased in the period
Other receivables11,576,982.056,351,361.1682.28%Some of the merchant rents are collected in April
Stock67,463,821.4866,971,551.960.74%
Other current assets233,390.961,395,071.36-83.27%Tax to be deducted is deducted in the period
Short-term loan12,822,324.4024,633,898.20-47.95%Short-term loans declined
Bills payable11,570,559.4416,761,590.51-30.97%Notes issued in the period declined
Accounts payable127,811,428.65108,804,905.2017.47%
Advance payment1,985,305.99356,446.21456.97%Received part of the deposit in advance
Staff payable6,138,190.125,877,341.254.44%
Taxes payable12,124,249.0912,877,944.98-5.85%
ItemJan.-March of 2020Jan.-March of 2019Y-o-y changesReasons of changes
Operating income87,800,584.55143,921,648.63-38.99%Factory shut down and orders fell due to the impact of epidemic
Operating cost73,672,446.25123,972,772.66-40.57%Factory shut down and orders fell due to the impact of epidemic
Taxes and surcharges-7.00%
584,743.27628,766.00
Sales expense3,448,537.853,231,596.066.71%
Management fees8,058,091.6611,971,872.78-32.69%Factory shut down due to the impact of epidemic
Financial expenses1,458,095.533,845,179.98-62.08%Bank loans declined
Non-operation income5,492.4444,300.00-87.60%There was a penalty income in previous period
Non-operation expenditure263,835.564,118.806305.64%Loss of fixed assets disposal in the period
Income tax expenses-85,032.7184,349.95-200.81%Loss in the period
ItemJan.-March of 2020Jan.-March of 2019Y-o-y changesReasons of changes
Cash received from sales of goods and services86,584,529.58131,395,643.63-34.10%Factory shut down and orders fell due to the impact of epidemic
Cash for purchasing goods and receiving labor services56,760,923.4185,022,628.29-33.24%Factory shut down and orders fell due to the impact of epidemic
Cash paid to and for employees8,467,600.6116,234,429.46-47.84%Factory shut down due to the impact of epidemic
Cash paid for purchasing fixed, intangible and other long-term assets467,211.581,991,100.36-76.54%Factory shut down due to the impact of epidemic
Other cash paid relating to investing activities25,000,000.0046,000,000.00-45.65%Bank financial products purchased in the period declined
Cash received from loans6,725,056.8039,255,469.21-82.87%Short-term loans declined in the period
Cash paid for settling debts20,548,487.8051,413,400.63-60.03%Bank loans paid in the period declined
Influence on cash and cash equivalents due to fluctuation in exchange rate32,336.7865,528.58-50.65%Exchange rate movements have less impact in the period

II. Analysis and explanation of significant events and their influence and solutions

√ Applicable □Not applicable

(I) The Company signed Asset Exchange Contract with Wuhan Zhongheng Group on 29 April 2009 (details werereferred to in the announcement dated 30 April 2009), and pursuant to the contract, since part of the assets of theCompany (namely two parcel of industrial lands located at Huafa road, Gongming town, Guangming new district,Shenzhen (the property certificate No. were SFDZ No.7226760 and SFDZ No.7226763, No. of parcels wereA627-005 andA627-007, and the aggregate area was 48,200 sq.m) were the lands listed in the first batch of planfor 2010 Shenzhen urbanization unit planning preparation plan. For promotion of such urbanization project andjoint cooperation, the Company has not completed the transfer procedures in respect of the aforesaid land.

The Company convoked the first extraordinary meeting of the Board in 2015 on February 16, 2015 and the firstextraordinary general meeting of the Board in 2015 on March 4, 2015, which considered and approved the“Motion on promoting and implementing the urban renewal project for the renewal units of Huafa area atGongming street, Guangming new district, Shenzhen”, specified that the Company and Wuhan Zhongheng Groupshall obtain the corresponding compensatory consideration for removal from the respectively owned project plotsand the respectively contributed and constructed above-ground buildings before the land development, it isestimated that the compensatory consideration obtained by the Company accounts for 50.5% of the totalconsideration and Wuhan Zhongheng Group accounts for 49.5% by calculation.The sixth extraordinary meeting of the board of directors in 2015 and the third extraordinary general meeting heldon September 11, 2015 have considered and adopted the “Proposal on the project promotion and implementationof urban renewal and the progress of related transactions of ‘the updated units at Huafa Area, Gong Ming Street,Guangming New District, Shenzhen’”, the company has signed the “Agreement on the cooperation of urbanrenewal project of the updated units at Huafa Area, Gong Ming Street, Guangming New District, Shenzhen”,“Contract for the cooperative venture of reconstruction project for Huafa Industrial Park, Gong Ming Street,Guangming New District” and “Agreement on housing acquisition and removal compensation and resettlement”with Wuhan Zhongheng New Technology Industry Group Co., Ltd. (hereinafter referred to as “WuhanZhongheng Group”), Shenzhen Vanke Real Estate Co., Ltd. (hereinafter referred to as “Shenzhen Vanke”), andShenzhen Vanke Guangming Real Estate Development Co., Ltd. (hereinafter referred to as “Vanke Guangming”).On 12 September 2016, Shenzhen Vanke applied for arbitration in respect of “Agreement on the cooperation ofurban renewal project of the updated units at Huafa Area, Gong Ming Street, Guangming New District, Shenzhen”against the Company and Wuhan Zhongheng Group. Shenzhen Court of International Arbitration (SCIA) hasgiven a ruling in August 2017. On August 29, 2018, the court accepted the compulsory execution application ofShenzhen Vanke. In October 2019, as a number of outsiders filed an “execution objection” and applied for “noexecution” to Shenzhen Intermediate People’s Court, the Shenzhen Intermediate People’s Court ruled to terminatethe enforcement procedure on March 20, 2020. If the “execution objection” and “no execution” proposed byoutsiders are rejected according to law, Shenzhen Vanke may continue to apply to the Shenzhen IntermediatePeople’s Court to resume execution. Progress of the case found more in the Notices released on Juchao website(www.cninfo.com.cn) dated 14 Sept. 2016, 1 Nov. 2016, 16 Nov. 2016, on 18 Feb. 2017, 24 March 2017, 25 April2017, 1 July 2017, 18 August 2017, 9 Feb. 2018, 25 Aug. 2018 and 7 Sept. 2018 respectively.In November 2019, the company was listed by Shenzhen Intermediate People’s Court as the dishonest personsubjected to execution, and was removed from the dishonest person subjected to execution list by the ShenzhenIntermediate People’s Court in December 2019. For details, see the “Announcement About the Company BeingIncluded in the List of Dishonest Person Subjected to Execution” (Announcement No.: 2019-33) and“Announcement About the Company Being Removed from the List of Dishonest Person Subjected to Execution”(Announcement No.: 2019 -35) issued by the company on November 9, 2019 and December 14, 2019 on

www.cninfo.com.cn.

(ii) On 31 December 2015, the 88,750,047 shares held by Wuhan Zhongheng Group, are pledge to ChinaMerchants Securities Assets Co., Ltd. with due date of 31 December 2016. Wuhan Zhongheng Group deferred the

repurchase business day to 30 June 2017. on 1 Feb. 2016, Wuhan Zhongheng Group pledge the 27,349,953 sharesheld to China Merchants Securities Assets Co., Ltd. with due date of 31 December 2016. The above-mentionedpledged shares are deferred by Wuhan Zhongheng Group; pledge expired on 31 December 2017. The trading dayfor repurchase put off to the date when pledge actually removed. Till end of this period released, controllingshareholder still not removed the pledge and the Company has apply by letter, relevant Notice of Presentment onStock Pledge from Controlling Shareholder was released. Found more in notice released on Juchao website(www.cninfo.com.cn) date 2 Feb. 2018.(iii) The controlling shareholder Wuhan Zhongheng Group holds 119,289,894 shares of the Company’ stock,accounting for 42.13% of the total share capital of the Company, of which 116,489,894 shares were judicially frozenby Shenzhen Intermediate People's Court (hereinafter referred to as "Shenzhen Intermediate Court") on September27, 2016, which were frozen again by the Shenzhen Intermediate People's Court on December 14, 2018, with afrozen period of 36 months; the remaining 2,800,000 shares were frozen by the Shenzhen Intermediate People'sCourt on May 29, 2019, and were frozen again by the Higher People’s Court of Guangdong Province on July 5,2019. For details, please refer to the company’s announcements published on www.cninfo.com.cn on October 27,2016, January 11, 2019, May 31, 2019 and August 7, 2019.(iv) On September 29, 2016, the company and its controlling shareholder, Wuhan Zhongheng Group, signed the“Agency Contract” with V&T Law Firm. On October 8, 2016, the three parties also signed the “SupplementalAgreement for Agency Contract”, it was agreed that V&T acted as an agent for the company and WuhanZhongheng Group to deal with the arbitration case with Shenzhen Vanke. After losing the lawsuit, due todifferences in the payment of attorney fees, V&T sued our company and Wuhan Zhongheng Group to theShenzhen Court of International Arbitration, and applied to the court to seize a bank account under our company’sname and part of our company dormitories, please refer to “Other Announcements on the Progress InvolvingLitigation and Arbitration” (Announcement Numbers: 2018-43, 2019-02) released by our company onwww.cninfo.com on November 14, 2018 and March 6, 2019. 02. In November 2019, the Shenzhen Court ofInternational Arbitration ruled that the company and Wuhan Zhongheng Group paid the corresponding fees.According to the “Agency Contract” and “Supplemental Agreement for Agency Contract” signed by the threeparties, the loss of the arbitrament in this case was borne by Wuhan Zhongheng Group, so it had no impact on thecompany’s 2019 annual profit. For details, see the company’s “Other Announcements on the Progress InvolvingLitigation and Arbitration” (Announcement No.: 2019-34) released on www.cninfo.com.cn on November 25,2019.

Summary of important issuesDisclosure dateInterim report disclosure index

Implementation progress of shares buy-back

□ Applicable √ Not applicable

Implementation progress of the reduction of repurchases shares by centralized bidding

□ Applicable √ Not applicable

III. Commitments completed in Period and those without completed till end of the Periodfrom actual controller, shareholders, related parties, purchaser and companies

□ Applicable √ Not applicable

The Company has no commitments completed in Period and those without completed till end of the Period from actual controller,shareholders, related parties, purchaser and companies.IV. Securities Investment

□ Applicable √ Not applicable

No security investment in Period.V. Trust financing

√Applicable □Not applicable

In 10 thousand Yuan

TypeCapital sourcesAmount occurredOutstanding balanceOverdue amount
Bank financial productsOwn funds25,000,00000
Total25,000,00000

Details of the single major amount, or high-risk trust investment with low security, poor fluidity and non-guaranteed

□Applicable √Not applicable

Entrust financial expected to be unable to recover the principal or impairment might be occurred

□ Applicable √ Not applicable

VI. Derivative investment

□ Applicable √ Not applicable

No derivative investment in the Period.VII. Registration form for receiving research, communication and interview in the reportperiod

√Applicable □ Not applicable

DateMethodType of investorsBasic situation index of investigation
2020-01-06Telephone communicationIndividualUnderstand the company's production and operation situation, litigation progress and the progress of urban renewal projects

VIII. External security against the rules

□ Applicable √ Not applicable

The Company has no external security against the rules in the Period.IX. Controlling shareholders' and its related party's non-business capital occupying of thelisted company

□ Applicable √ Not applicable

There are no controlling shareholders' and its related party's non-business capital occupying of the listed company.

Section IV. Financial Statement

I. Financial statement

1. Consolidate balance sheet

Prepared by Shenzhen Zhongheng Huafa Co., Ltd.

2020-04-28

In RMB

Items2020-3-312019-12-31
Current assets:
Monetary fund32,816,423.2938,095,501.00
Settlement provisions
Capital lent
Transactional financial assets
Derivative financial assets
Note receivable
Account receivable124,682,499.69138,755,691.43
Receivable financing55,390,096.4342,096,834.02
Accounts paid in advance34,827,689.4423,007,637.46
Insurance receivable
Reinsurance receivables
Contract reserve of reinsurance receivable
Other account receivable11,576,982.056,351,361.16
Including: Interest receivable
Dividend receivable
Buying back the sale of financial assets
Inventories67,463,821.4866,971,551.96
Contractual assets
Assets held for sale
Non-current asset due within one year
Other current assets233,390.961,395,071.36
Total current assets326,990,903.34316,673,648.39
Non-current assets:
Loans and payments on behalf
Debt investment
Other debt investment
Long-term account receivable
Long-term equity investment
Investment in other equity instrument
Other non-current financial assets
Investment real estate48,520,910.0048,952,992.57
Fixed assets194,674,121.29198,229,817.31
Construction in progress
Productive biological asset
Oil and gas asset
Right-of-use assets
Intangible assets42,518,738.4942,968,600.44
Expense on Research and Development
Goodwill
Long-term expenses to be apportioned251,697.19309,781.15
Deferred income tax asset7,137,751.446,803,360.00
Other non-current asset225,700.00225,700.00
Total non-current asset293,328,918.41297,490,251.47
Total assets620,319,821.75614,163,899.86
Current liabilities:
Short-term loans12,822,324.4024,633,898.20
Loan from central bank
Capital borrowed
Trading financial liability
Derivative financial liability
Note payable11,570,559.4416,761,590.51
Account payable127,811,428.65108,804,905.20
Accounts received in advance1,985,305.99356,446.21
Contractual liability
Selling financial asset of repurchase
Absorbing deposit and interbank deposit
Security trading of agency
Security sales of agency
Wage payable6,138,190.125,877,341.25
Taxes payable12,124,249.0912,877,944.98
Other account payable33,509,094.3428,027,592.62
Including: Interest payable71,131.4689,365.28
Dividend payable
Commission charge and commission payable
Reinsurance payable
Liability held for sale
Non-current liabilities due within one year12,000,000.0012,000,000.00
Other current liabilities
Total current liabilities217,961,152.03209,339,718.97
Non-current liabilities:
Insurance contract reserve
Long-term loans71,000,000.0073,000,000.00
Bonds payable
Including: Preferred stock
Perpetual capital securities
Lease liability
Long-term account payable
Long-term wages payable
Accrual liability64,411.0064,411.00
Deferred income2,266,950.002,331,720.00
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities73,331,361.0075,396,131.00
Total liabilities291,292,513.03284,735,849.97
Owner’s equity:
Share capital283,161,227.00283,161,227.00
Other equity instrument
Including: Preferred stock
Perpetual capital securities
Capital public reserve146,587,271.50146,587,271.50
Less: Inventory shares
Other comprehensive income
Reasonable reserve
Surplus public reserve77,391,593.2577,391,593.25
Provision of general risk
Retained profit-178,112,783.03-177,712,041.86
Total owner’ s equity attributable to parent company329,027,308.72329,428,049.89
Minority interests
Total owner’ s equity329,027,308.72329,428,049.89
Total liabilities and owner’ s equity620,319,821.75614,163,899.86

Legal Representative: Li ZhongqiuPerson in charge of accounting works: Yang BinPerson in charge of accounting institute: Wu Aijie

2. Balance Sheet of Parent Company

In RMB

Item2020-3-312019-12-31
Current assets:
Monetary funds4,283,316.443,494,245.90
Trading financial assets
Derivative financial assets
Note receivable
Account receivable
Receivable financing
Accounts paid in advance35,123.00
Other account receivable94,530,302.5297,165,023.85
Including: Interest receivable
Dividend receivable
Inventories14,806.5014,806.50
Contractual assets
Assets held for sale
Non-current assets maturing within one year
Other current assets29,889.41173,950.26
Total current assets98,893,437.87100,848,026.51
Non-current assets:
Debt investment
Other debt investment
Long-term receivables
Long-term equity investments186,608,900.00186,608,900.00
Investment in other equity instrument
Other non-current financial assets
Investment real estate24,864,200.4025,166,301.06
Fixed assets98,141,949.1298,410,024.38
Construction in progress
Productive biological assets
Oil and natural gas assets
Right-of-use assets
Intangible assets4,517,472.814,553,709.24
Research and development costs
Goodwill
Long-term deferred expenses
Deferred income tax assets7,367,646.357,367,646.35
Other non-current assets
Total non-current assets321,500,168.68322,106,581.03
Total assets420,393,606.55422,954,607.54
Current liabilities
Short-term borrowings
Trading financial liability
Derivative financial liability
Notes payable
Account payable9,740,367.3310,745,840.16
Accounts received in advance54,451.0157,266.01
Contractual liability
Wage payable820,979.021,220,979.02
Taxes payable7,951,572.268,489,130.72
Other accounts payable19,737,144.5319,100,375.42
Including: Interest payable
Dividend payable
Liability held for sale
Non-current liabilities due within one year12,000,000.0012,000,000.00
Other current liabilities
Total current liabilities50,304,514.1551,613,591.33
Non-current liabilities:
Long-term loans71,000,000.0073,000,000.00
Bonds payable
Including: preferred stock
Perpetual capital securities
Lease liability
Long-term account payable
Long term employee compensation payable
Accrued liabilities64,411.0064,411.00
Deferred income
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities71,064,411.0073,064,411.00
Total liabilities121,368,925.15124,678,002.33
Owners’ equity:
Share capital283,161,227.00283,161,227.00
Other equity instrument
Including: preferred stock
Perpetual capital securities
Capital public reserve146,587,271.50146,587,271.50
Less: Inventory shares
Other comprehensive income
Special reserve
Surplus reserve77,391,593.2577,391,593.25
Retained profit-208,115,410.35-208,863,486.54
Total owner’s equity299,024,681.40298,276,605.21
Total liabilities and owner’s equity420,393,606.55422,954,607.54

3. Consolidated Profit Statement

In RMB

ItemCurrent periodLast period
I. Total operating income87,800,584.55143,921,648.63
Including: Operating income87,800,584.55143,921,648.63
Interest income
Insurance gained
Commission charge and commission income
II. Total operating cost88,130,200.33143,650,187.48
Including: Operating cost73,672,446.25123,972,772.66
Interest expense
Commission charge and commission expense
Cash surrender value
Net amount of expense of compensation
Net amount of withdrawal of insurance contract reserve
Bonus expense of guarantee slip
Reinsurance expense
Tax and extras584,743.27628,766.00
Sales expense3,448,537.853,231,596.06
Administrative expense8,058,091.6611,971,872.78
R&D expense908,285.77
Financial expense1,458,095.533,845,179.98
Including: Interest expenses2,375,650.332,793,872.51
Interest income128,721.9395,661.57
Add: other income64,770.00
Investment income (Loss is listed with “-”)37,415.0230,941.58
Including: Investment income on affiliated company and joint venture
The termination of income recognition for financial assets measured by amortized cost(Loss is listed with “-”)
Exchange income (Loss is listed with “-”)
Net exposure hedging income (Loss is listed with “-”)
Income from change of fair value (Loss is listed with “-”)
Loss of credit impairment (Loss is listed with “-”)
Losses of devaluation of asset (Loss is listed with “-”)
Income from assets disposal (Loss is listed with “-”)
III. Operating profit (Loss is listed with “-”)-227,430.76302,402.73
Add: Non-operating income5,492.4444,300.00
Less: Non-operating expense263,835.564,118.80
IV. Total profit (Loss is listed with “-”)-485,773.88342,583.93
Less: Income tax expense-85,032.7184,349.95
V. Net profit (Net loss is listed with “-”)-400,741.17258,233.98
(i) Classify by business continuity
1.continuous operating net profit (net loss listed with ‘-”)-400,741.17258,233.98
2.termination of net profit (net loss listed with ‘-”)
(ii) Classify by ownership
1.Net profit attributable to owner’s of parent company-400,741.17258,233.98
2.Minority shareholders’ gains and losses
VI. Net after-tax of other comprehensive income
Net after-tax of other comprehensive income attributable to owners of parent company
(I) Other comprehensive income items which will not be reclassified subsequently to profit of loss
1.Changes of the defined benefit plans that re-measured
2.Other comprehensive income under equity method that cannot be transfer to gain/loss
3.Change of fair value of investment in other equity instrument
4.Fair value change of enterprise's credit risk
5. Other
(ii) Other comprehensive income items which will be reclassified subsequently to profit or loss
1.Other comprehensive income under equity method that can transfer to gain/loss
2.Change of fair value of other debt investment
3.Amount of financial
assets re-classify to other comprehensive income
4.Credit impairment provision for other debt investment
5.Cash flow hedging reserve
6.Translation differences arising on translation of foreign currency financial statements
7.Other
Net after-tax of other comprehensive income attributable to minority shareholders
VII. Total comprehensive income-400,741.17258,233.98
Total comprehensive income attributable to owners of parent Company-400,741.17258,233.98
Total comprehensive income attributable to minority shareholders
VIII. Earnings per share:
(i) Basic earnings per share-0.00140.0009
(ii) Diluted earnings per share-0.00140.0009

Enterprise combine under the same control in the Period, the combined party realized net profit of 0 Yuan before combination, andrealized 0 Yuan at last period for combined partyLegal Representative: Li ZhongqiuPerson in charge of accounting works: Yang BinPerson in charge of accounting institute: Wu Aijie

4. Profit Statement of Parent Company

In RMB

ItemCurrent periodLast period
I. Operating income7,437,448.028,410,710.54
Less: Operating cost613,839.481,229,845.47
Taxes and surcharge257,246.31235,479.42
Sales expenses
Administration expenses3,553,655.314,650,071.72
R&D expenses
Financial expenses2,015,272.002,191,390.21
Including: interest expenses2,015,830.252,174,999.98
Interest income3,734.786,534.22
Add: other income
Investment income (Loss is listed with “-”)
Including: Investment income on affiliated Company and joint venture
The termination of income recognition for financial assets measured by amortized cost (Loss is listed with “-”)
Net exposure hedging income (Loss is listed with “-”)
Changing income of fair value (Loss is listed with “-”)
Loss of credit impairment (Loss is listed with “-”)
Losses of devaluation of asset (Loss is listed with “-”)
Income on disposal of assets (Loss is listed with “-”)
II. Operating profit (Loss is listed with “-”)997,434.92103,923.72
Add: Non-operating income37,300.00
Less: Non-operating expense
III. Total Profit (Loss is listed with “-”)997,434.92141,223.72
Less: Income tax249,358.7335,305.93
IV. Net profit (Net loss is listed with “-”)748,076.19105,917.79
(i)continuous operating net profit (net loss listed with ‘-”)748,076.19105,917.79
(ii) termination of net profit (net
loss listed with ‘-”)
V. Net after-tax of other comprehensive income
(I) Other comprehensive income items which will not be reclassified subsequently to profit of loss
1.Changes of the defined benefit plans that re-measured
2.Other comprehensive income under equity method that cannot be transfer to gain/loss
3.Change of fair value of investment in other equity instrument
4.Fair value change of enterprise's credit risk
5. Other
(II) Other comprehensive income items which will be reclassified subsequently to profit or loss
1.Other comprehensive income under equity method that can transfer to gain/loss
2.Change of fair value of other debt investment
3.Amount of financial assets re-classify to other comprehensive income
4.Credit impairment provision for other debt investment
5.Cash flow hedging reserve
6.Translation differences arising on translation of foreign currency financial statements
7.Other
VI. Total comprehensive income748,076.19105,917.79
VII. Earnings per share:
(i) Basic earnings per share0.00260.0004
(ii) Diluted earnings per share0.00260.0004

5. Consolidated Cash Flow Statement

In RMB

ItemCurrent periodLast period
I. Cash flows arising from operating activities:
Cash received from selling commodities and providing labor services86,584,529.58131,395,643.63
Net increase of customer deposit and interbank deposit
Net increase of loan from central bank
Net increase of capital borrowed from other financial institution
Cash received from original insurance contract fee
Net cash received from reinsurance business
Net increase of insured savings and investment
Cash received from interest, commission charge and commission
Net increase of capital borrowed
Net increase of returned business capital
Net cash received by agents in sale and purchase of securities
Write-back of tax received
Other cash received concerning operating activities1,372,807.061,243,646.01
Subtotal of cash inflow arising from operating activities87,957,336.64132,639,289.64
Cash paid for purchasing commodities and receiving labor service56,760,923.4185,022,628.29
Net increase of customer loans
and advances
Net increase of deposits in central bank and interbank
Cash paid for original insurance contract compensation
Net increase of capital lent
Cash paid for interest, commission charge and commission
Cash paid for bonus of guarantee slip
Cash paid to/for staff and workers8,467,600.6116,234,429.46
Taxes paid2,351,100.262,076,195.55
Other cash paid concerning operating activities12,446,403.779,902,133.35
Subtotal of cash outflow arising from operating activities80,026,028.05113,235,386.65
Net cash flows arising from operating activities7,931,308.5919,403,902.99
II. Cash flows arising from investing activities:
Cash received from recovering investment
Cash received from investment income37,415.0230,941.58
Net cash received from disposal of fixed, intangible and other long-term assets91,000.00
Net cash received from disposal of subsidiaries and other units
Other cash received concerning investing activities25,000,000.0046,000,000.00
Subtotal of cash inflow from investing activities25,128,415.0246,030,941.58
Cash paid for purchasing fixed, intangible and other long-term assets467,211.581,991,100.36
Cash paid for investment
Net increase of mortgaged loans
Net cash received from subsidiaries and other units obtained
Other cash paid concerning investing activities25,000,000.0046,000,000.00
Subtotal of cash outflow from investing activities25,467,211.5847,991,100.36
Net cash flows arising from investing activities-338,796.56-1,960,158.78
III. Cash flows arising from financing activities
Cash received from absorbing investment
Including: Cash received from absorbing minority shareholders’ investment by subsidiaries
Cash received from loans6,725,056.8039,255,469.21
Other cash received concerning financing activities
Subtotal of cash inflow from financing activities6,725,056.8039,255,469.21
Cash paid for settling debts20,548,487.8051,413,400.63
Cash paid for dividend and profit distributing or interest paying2,393,884.153,134,606.87
Including: Dividend and profit of minority shareholder paid by subsidiaries
Other cash paid concerning financing activities
Subtotal of cash outflow from financing activities22,942,371.9554,548,007.50
Net cash flows arising from financing activities-16,217,315.15-15,292,538.29
IV. Influence on cash and cash equivalents due to fluctuation in exchange rate32,336.7865,528.58
V. Net increase of cash and cash equivalents-8,592,466.342,216,734.50
Add: Balance of cash and cash equivalents at the period -begin36,645,061.6127,961,209.60
VI. Balance of cash and cash equivalents at the period -end28,052,595.2730,177,944.10

6. Cash Flow Statement of Parent Company

In RMB

ItemCurrent periodLast period
I. Cash flows arising from operating activities:
Cash received from selling commodities and providing labor services9,931,734.488,916,021.40
Write-back of tax received
Other cash received concerning operating activities3,939,188.222,102,534.22
Subtotal of cash inflow arising from operating activities13,870,922.7011,018,555.62
Cash paid for purchasing commodities and receiving labor service
Cash paid to/for staff and workers622,769.26841,317.45
Taxes paid1,239,019.63458,295.30
Other cash paid concerning operating activities7,205,331.0615,538,788.71
Subtotal of cash outflow arising from operating activities9,067,119.9516,838,401.46
Net cash flows arising from operating activities4,803,802.75-5,819,845.84
II. Cash flows arising from investing activities:
Cash received from recovering investment
Cash received from investment income
Net cash received from disposal of fixed, intangible and other long-term assets
Net cash received from disposal
of subsidiaries and other units
Other cash received concerning investing activities
Subtotal of cash inflow from investing activities
Cash paid for purchasing fixed, intangible and other long-term assets
Cash paid for investment
Net cash received from subsidiaries and other units obtained
Other cash paid concerning investing activities
Subtotal of cash outflow from investing activities
Net cash flows arising from investing activities
III. Cash flows arising from financing activities
Cash received from absorbing investment
Cash received from loans
Other cash received concerning financing activities
Subtotal of cash inflow from financing activities
Cash paid for settling debts2,000,000.00
Cash paid for dividend and profit distributing or interest paying2,015,830.252,174,999.98
Other cash paid concerning financing activities
Subtotal of cash outflow from financing activities4,015,830.252,174,999.98
Net cash flows arising from financing activities-4,015,830.25-2,174,999.98
IV. Influence on cash and cash equivalents due to fluctuation in exchange rate-23.63
V. Net increase of cash and cash787,972.50-7,994,869.45
equivalents
Add: Balance of cash and cash equivalents at the period -begin2,046,143.4412,024,179.58
VI. Balance of cash and cash equivalents at the period -end2,834,115.944,029,310.13

II. Explanation on financial statement adjustment

1. Financial statement adjustment at the beginning of the first year when implementation of new revenuerules and new leasing rules from 2020

□Applicable √Not applicable

2. Retrospective adjustment of the comparative data for initial implementation of new revenue rules andnew leasing rules from 2020

□Applicable √Not applicable

III. Audit report

Whether the 1

stquarterly report has been audited or not

□Yes √ No

1Q report of the Company is unaudited.


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