FIYTA Precision Technology Co., Ltd. 2020 Third Quarter Report October, 2020 Section 1 Important NoticeThe Board of Directors, the Supervisory Committee, directors, supervisors and senior executives herebyindividually and collectively accept responsibility for the correctness, accuracy and completeness of thecontents of this report and confirm that there are neither material omissions nor errors which would render anystatement misleading.All the directors attended the board meeting for reviewing the Quarter Report.Huang Yongfeng, the Company leader, Chen Zhuo, the chief financial officer, and Tian Hui, the manager of theaccounting department (treasurer) hereby confirm authenticity, accuracy and completeness of the financialreport enclosed in the Quarter Report. Section 2 Company ProfileI. Summary of Accounting/Financial DataDoes the Company need to make retroactive adjustment or restatement of the accounting data of the previous yearNo | End of the reporting period | End of the previous year | Year-on-year increase/decrease in the reporting period | | Total assets, in CNY | 4,028,147,973.14 | 3,760,923,285.37 | 7.11% | | Net assets attributable to the Company’s shareholders, in CNY | 2,747,088,050.30 | 2,654,533,766.99 | 3.49% | | Reporting period | Increase/decrease as of the reporting period over the same period of the previous year | From the year beginning to the end of the reporting period | Year-on-year increase/decrease from the year beginning to the end of the reporting period | | Revenue in CNY | 1,362,598,720.97 | 42.73% | 2,944,433,436.00 | 7.47% | | Net profit attributable to the Company’s shareholders, in CNY | 137,048,377.83 | 148.12% | 214,787,284.13 | 20.17% | | Net profit attributable to the Company’s shareholders less the non-recurring items, in CNY | 129,723,577.01 | 133.96% | 198,393,054.46 | 17.34% | | Net cash flows arising from operating activities, in CNY | 112,503,592.52 | -22.79% | 216,148,827.79 | -29.07% | | Basic earning per share, in CNY/share | 0.3165 | 153.00% | 0.4940 | 22.31% | | Diluted earning per share, in CNY/share | 0.3165 | 153.00% | 0.4940 | 22.31% | | Return on equity, weighted average | 4.99% | 2.94% | 7.91% | 1.17% |
| Items | Amount from the year beginning to the end of the reporting period | Note | | Gain/loss from disposal of non-current assets, including the part offset from the provision for impairment of assets. | -376,069.86 | | | The government subsidies included in the profits and losses of the current period (excluding government grants which are closely related to the Company’s business and conform with the national standard amount | 20,135,145.46 | |
| or quantity) | | | | Accounts receivable separately tested for impairment and reversal of the impairment provision of contract assets | 134,236.87 | | | Other non-operating income and expenses other than the aforesaid items | 1,288,291.48 | | | Less: Amount affected by the income tax | 4,787,374.28 | | | Total | 16,394,229.67 | -- |
| Total common shareholders at the end of the reporting period | 23,854 | Total preference shareholders with the voting power recovered at the end of the reporting period (if any) | 0 | | Shareholding by top 10 shareholders | | Names of the Shareholders | Nature of the shareholder | Shareholding proportion | Shareholding quantity | Number of the restricted shares held | Pledging or freezing | | Status of the shares | Quantity | | AVIC International Holding Limited | State corporate | 38.07% | 162,977,327 | 0 | | | | China Construction Bank Corporation - Penghua Value Advantage Hybrid Securities Investment Fund (LOF) | Domestic non-state-owned legal person | 1.25% | 5,331,735 | 0 | | | | JPMORGAN CHASE BANK, NATIONAL ASSOCIATION | Overseas legal person | 1.07% | 4,598,412 | 0 | | |
| # Huang Xuhua | Domestic natural person | 0.93% | 3,998,594 | 0 | | | | Song Jianbo | Domestic natural person | 0.65% | 2,790,000 | 0 | | | | China Construction Bank Corporation - Rongtong Internet Media Flexible Configuration Hybrid Securities Investment Fund | Domestic non-state-owned legal person | 0.58% | 2,470,000 | 0 | | | | # Zheng Zhenhong | Domestic natural person | 0.58% | 2,467,500 | 0 | | | | # Jin Xiaojing | Domestic natural person | 0.50% | 2,159,900 | 0 | | | | Hua An Fund - Fujiangnan Shengfu Tian Ying Plan A, Issue S1601 - 01 - Hua An Fund - Jiangnan Rural Commercial Bank Single Asset Management Plan | Domestic non-state-owned legal person | 0.47% | 2,000,500 | 0 | | | | # Zhu Kaisheng | Domestic natural person | 0.42% | 1,784,126 | 0 | | | | Shares held by top 10 shareholders of unrestricted shares | | Names of the Shareholders | Quantity of unrestricted shares held | Share type | | Share type | Quantity | | AVIC International Holding Limited | 162,977,327 | CNY ordinary shares | 162,977,327 | | China Construction Bank Corporation - Penghua Value Advantage Hybrid Securities Investment Fund (LOF) | 5,331,735 | CNY ordinary shares | 5,331,735 | | JPMORGAN CHASE BANK, NATIONAL ASSOCIATION | 4,598,412 | CNY ordinary shares | 4,598,412 | | # Huang Xuhua | 3,998,594 | CNY ordinary shares | 3,998,594 | | Song Jianbo | 2,790,000 | CNY ordinary shares | 2,790,000 |
| China Construction Bank Corporation - Rongtong Internet Media Flexible Configuration Hybrid Securities Investment Fund | 2,470,000 | CNY ordinary shares | 2,470,000 | | # Zheng Zhenhong | 2,467,500 | CNY ordinary shares | 2,467,500 | | # Jin Xiaojing | 2,159,900 | CNY ordinary shares | 2,159,900 | | Hua An Fund - Fujiangnan Shengfu Tian Ying Plan A, Issue S1601 - 01 - Hua An Fund - Jiangnan Rural Commercial Bank Single Asset Management Plan | 2,000,500 | CNY ordinary shares | 2,000,500 | | # Zhu Kaisheng | 1,784,126 | CNY ordinary shares | 1,784,126 | | Explanation on associated relationship or consistent action of the above shareholders | Inapplicable | | Note to the top 10 shareholders involved in margin financing & securities lending (if any) | Inapplicable |
Section 3 Significant EventsI. Changes of the major financial data and financial indicators during the reporting period and the causes(I) Balance sheet items | Items | Ending balance | Opening balance | Variation proportion | Cause of the movement | | Monetary capital | 440,841,813.69 | 316,668,565.09 | 39.21% | Mainly due to increase of the net flow-in from operating activities | | Notes receivable | 31,643,491.93 | 10,596,431.31 | 198.62% | Mainly due to growth of the income from the business of precision technology. |
| Accounts receivable | 517,102,018.23 | 397,471,106.98 | 30.10% | Mainly due to growth of the income from the watch business and income from the business of precision technology. | | Other current assets | 42,265,897.66 | 68,858,096.74 | -38.62% | Mainly due to decrease of the excess VAT credit over the beginning of the year. | | Other non-current assets | 20,641,356.90 | 7,373,248.48 | 179.95% | Mainly due to increase of the advance payment for refurbishment and equipment over the year beginning. | | Advance receipts | 7,603,874.94 | 23,433,463.57 | -67.55% | Mainly due to the influence from the reclassification in compliance with the new income code. | | Contract liabilities | 17,765,957.61 | - | - | Mainly due to the influence from the reclassification in compliance with the new income code. | | Tax payable | 88,754,288.51 | 24,064,803.00 | 268.81% | Mainly due to increase of the VAT and business income tax payable over the year beginning. | | Other payables | 161,123,219.49 | 119,616,721.63 | 34.70% | Mainly due to increase of the shopping mall expenses, rent, etc. arising from the revenue growth. | | Treasury stock | 34,143,512.92 | 71,267,118.78 | -52.09% | Mainly due to repurchase of the B-shares written-off in the current year. |
| Items | Amount incurred in the reporting period | Amount incurred in the same period of the previous year | Variation proportion | Cause of the movement | | Operating revenue | 1,362,598,720.97 | 954,666,662.24 | 42.73% | Mainly due to the growth of income from the watch business during the reporting period. |
| Operating costs | 843,233,284.52 | 564,943,912.45 | 49.26% | Mainly due to the increase of the operating costs arising from the growth of income from the watch business during the reporting period. | | Other income | 9,981,129.79 | 321,181.31 | 3007.63% | Mainly due to the increase of the governmental subsidies received during the reporting period. | | Loss from impairment of credit | -2,704,695.51 | -5,221,223.17 | 48.20% | Mainly due to further enhancement of control over the |
| | | | accounts receivable during the reporting period. | | Income from disposal of assets | -175,929.69 | -671,226.52 | 73.79% | Mainly due to relatively big amount from disposal of equipment in the same period of the previous year. | | Non-operating expenses | 289,010.70 | 159,270.28 | 81.46% | Mainly due to the influence from the donation of anti-epidemic supplies during the reporting period. |
| Total profit | 170,897,842.43 | 72,234,639.73 | 136.59% | Mainly due to growth of revenue in the reporting period. | | Income tax expense | 33,842,369.19 | 16,999,335.26 | 99.08% | Mainly due to growth of the total profit in the reporting period. |
| Items | Amount incurred in the reporting period | Amount incurred in the same period of the previous year | Variation proportion | Cause of the movement | | Taxes and surcharges | 14,676,717.58 | 22,031,072.60 | -33.38% | Mainly due to the impact from the increase of inventories and procurements. | | Other income | 20,135,145.46 | 13,366,923.67 | 50.63% | Mainly due to the increase of the governmental subsidies received during the reporting period. | | Return on investment | 2,160,911.92 | 1,531,310.06 | 41.12% | Mainly due to increase of the profit of Shanghai Watch Industry, a shareholding enterprise in the reporting period. | | Loss from impairment of credit | -5,172,056.86 | -8,302,992.06 | 37.71% | Mainly due to further enhancement of control over the accounts receivable during the reporting period. | | Income from disposal of assets | -376,069.86 | -883,236.65 | 57.42% | Mainly due to big amount from disposal of equipment in the same period of the previous year. |
| Items | Amount incurred in the reporting period | Amount incurred in the same period of the previous year | Variation proportion | Cause of the movement | | Rebated tax received | 1,592,055.84 | 5,027,853.96 | -68.34% | Mainly due to decrease of the rebated export tax and duties arising from the drop of the overseas business income in the current year affected by COVID-19 | | Various taxes and duties paid | 121,220,554.66 | 187,144,694.13 | -35.23% | Mainly due to the impact from the difference in the input VAT and output VAT in the current year. |
| Net cash recovered from disposal of the fixed assets, intangible assets and other long-term assets | 84,522.81 | 203,980.63 | -58.56% | Mainly due to decrease in disposal of fixed assets in the current year | | Cash received from absorption of investment | - | 18,585,600.00 | 100.00% | Mainly due to the equity incentive implemented in the same period of the previous year. | | Influence of the change of the exchange rate upon cash and cash equivalent | -598,916.46 | 335,308.39 | -278.62% | Mainly due to influence on the change of exchange rate. |
of the market of the own proprietary brand as well as continuous carrying forward of quality improvement & efficiencyimprovement and transformation & upgrading, the Company achieved a historical high in operating performance in singlequarter in the third quarter; the year-on-year growth rate of revenue was 42.73% and the year-on-year growth rate of totalprofit was 136.59%. During the reporting period, the Company continuously kept "war footing", seized the opportunity,controlled the cost, promoted transformation, the Company realized a positive growth on year-on-year basis in its ownproprietary brand business in a single quarter, the total profit boosted enormously, continuously carried forward channelupgrading in the retail of world watch retails and the superiority of the channels was further consolidated, and kepthigh-speed growth in revenue and total profit; achieved a further breakthrough in digital transformation, provided effectivesupport for breakthrough in business performance as the customer-centered digital operation system became furthermatured and; also made a new breakthrough in exploration of new retail models, such as “live video streaming by webcelebrity”, and made a highest record in a single live broadcasting for sale of watches on the live streaming platform jointlyhosted by Wei Ya and Gao Yuanyuan; in precision technology business, the Company was persistently carrying forwardcustomer deep ploughing and development of the new market field with the revenue growth rate exceeding 50% andsmoothly boosted the technology reserve for the smart watch business and product development. During the reporting period, the Company was rated as one of the "Top Ten Enterprises of the Watch Sector of China’sLight Industry", ranking the first for many consecutive years. Our Chairman was awarded the honorary title of "Tribute tothe 40th Anniversary of the Establishment of the Shenzhen Special Economic Zone and Saluting 40 Persons of Brands "on behalf of the Company. At the 40th Anniversary Celebration of the Establishment of Shenzhen Special Economic Zonedated October 14, Sun Lei, the chief designer of the Company, was awarded the honorary title of "Innovative andPioneering Figure and Advanced Model Figure" as the only representative of the watch industry. Looking forward to the future, the Company is optimistic about the huge potential of the domestic consumption marketunder the new development pattern of the “Dual Circulation”, shall still pay close attention to the potential impact of theglobal epidemic situation and the changes in the competition pattern in the Chinese market, and continue to strengthenthe advantages of our core competition based on “Brand Power, Product Power and Channel Power”; insist on scienceand technology leading and innovation driving, speed up digital transformation, increase investment in key fields andstrength creation of the hard core of precision technology and carry forward transformation upgrading and newbreakthrough. II. Progress of Significant Events and their Impacts and Analysis and Explanation of Solutions 1. Repurchase of Partial Domestically Listed Foreign Shares (B-shares) The Company held the 19th Session of the Ninth Board of Directors on July 6, 2020 and 2020 2nd Extraordinary GeneralMeeting on July 23, 2020. The two meetings examined and approved the "Proposal for Repurchase of PartialDomestically Listed Foreign Shares (B-shares)”, and published the repurchase report and a series of announcements onthe progress according to relevant regulations subsequently. For the detail, please refer to the relevant announcementsdisclosed by the Company in www.cninfo.com.cn., the Securities Times and Hong Kong Commercial Daily. 2. Capital Increment in Wholly-owned Subsidiaries The Company held the 20th session of the Ninth Board of Directors on July 28, 2020. The meeting reviewed andapproved the Proposal on Increasing Capital in Shenzhen FIYTA Precision Technology Ltd., One of the Company’sWholly-owned Subsidiaries, the Proposal on Increasing Capital in Shenzhen FIYTA Technology Development Ltd., One ofthe Company’s Wholly-owned Subsidiaries, and the Proposal on Increasing Capital in Shenzhen HARMONY E-Commerce Ltd., One of the Company’s Wholly-owned Subsidiaries. The capital increment in the said threewholly-owned subsidiaries amounted to CNY 90 million, CNY 40 million and CNY 9.50 million respectively. For the detail,please refer to the relevant announcements disclosed by the Company in www.cninfo.com.cn., the Securities Times andHong Kong Commercial Daily. | Summary of significant events | Date of disclosure | Inquiry index of the provisional reports disclosed in the website | | Announcement on the Resolution of the 19th Session of the Ninth Board of Directors, 2020-036 | July 7, 2020 | http://www.cninfo.com.cn/ | | Proposal for Repurchase of Partial Domestically Listed Foreign Shares (B-shares), 2020-038 | http://www.cninfo.com.cn/ | | Announcement on the Resolution of 2020 2nd Extraordinary General Meeting, 2020-044 | July 24, 2020 | http://www.cninfo.com.cn/ | | Report on Repurchase of Partial Domestically Listed Foreign Shares (B-shares), 2020-045 | http://www.cninfo.com.cn/ | | Announcement on the Resolution of the 20th Session of the Ninth Board of Directors, 2020-049 | July 30, 2020 | http://www.cninfo.com.cn/ | | Announcement on Capital Increment in Shenzhen FIYTA Precision Technology Ltd., One of the Company’s Wholly-owned Subsidiaries, 2020-051 | http://www.cninfo.com.cn/ | | Announcement on Capital Increment in Shenzhen FIYTA Technology Development Ltd., One of the Company’s Wholly-owned Subsidiaries, 2020-052 | http://www.cninfo.com.cn/ | | Announcement on Capital Increment in Shenzhen HARMONY E-Commerce Ltd., One of the Company’s Wholly-owned Subsidiaries, 2020-053 | http://www.cninfo.com.cn/ |
of centralized bidding through the special securities account through repurchase, taking 0.80% of the Company's totalcapital stock; the highest transaction price of the shares repurchased is HK$6.50/share and the lowest transaction price isHK$5.93/share and the total amount paid was HK$21,410,437.38 (with the transaction costs, such as the stamp duty,commission, etc. exclusive). The repurchase of the shares complied with the relevant law and regulations as well as thevested repurchase plan of the Company. Progress of implementation of reduction of the holding size of the shares repurchased by centralized biddingInapplicableIII. Commitments unfinished in implementation by the Company's actual controller, shareholders, related parties,acquirer and the Company, etc. in the reporting periodInapplicableIV. Portfolio investment 1. Investment in securities Inapplicable 2. Investment in derivatives InapplicableV. Progress of the projects invested with the raised capitalInapplicableVI. Prediction of the Operating Performance of 2020InapplicableVII. Material Contracts in Day-to-Day OperationsInapplicableVIII. Entrusted FinancingInapplicableIX. Outward guarantee against regulationsInapplicable X. Non-operational Occupancy of the Company’s Capital by the Controlling Shareholder and its Related PartiesInapplicableXI. Registration Form of Activities of Reception for Investigation and Survey, Communications, Interviews, etc. inthe Reporting Period | Time of Reception | Place of Reception | Way of Reception | Types of Visitors Received | Visitors Received | Main Content of Discussion and Materials Provided | Index of Basic Information on the Investigation and Survey | | August 19, 2020 | Company | Field survey | Institution | Changjiang Securities Company Limited, Hunan Yuancheng Investment Management Co., Ltd., Shenzhen Zhongna Bojin Investment Management Co., Ltd., CITIC Securities Company Limited, Shenzhen Hengyingfuda Asset Management Limited, Zhuhai Hengqin Changle Hui Capital Management Co., Ltd., Infore Capital Management Co., Ltd., Zhongrong Fund Management Co., Ltd., Shenzhen Hillstone Fund Management Co., Ltd., Truvalue Asset Management Co., Ltd., Jinxin Fund Management Co.,Ltd., Shenzhen Minsen Investment Co., Ltd. and Zhongrong Fund Management Company. | The Company communicated with investors on the businesses of watch brands, watch retail service, precision technology, new business development of smart watch, etc. | http://irm.cninfo.com.cn/ircs/company/companyDetail?stockcode=000026&orgId=gssz0000026 | | August 21, 2020 | Company | Field survey | Institution | China Merchants Fund Management Co.,Ltd., Ping An Fund Management Company Limited, Shanghai Chongshan Investment Co., Ltd., Shenzhen Upright Asset Management Co., Ltd., Shenzhen KWT Investment Company, Shanghai Huahong Asset Management Co.,Ltd., Shenzhen Qianhai Yunxi Fund Management Co. Ltd., Shenzhen Haifuling Capital Management Co., Ltd., Shanghai Tai Yang Asset Management Ltd., Penghua Fund Management Co., Ltd., Bosera Asset Management Co.,Ltd., Shenzhen Qianhai Shengbeile Investment Management Co.,Ltd. and Tonsin Financial International Holdings Limited | The Company communicated with investors on the businesses of watch brands, watch retail service, precision technology, new business development of smart watch, etc. | http://irm.cninfo.com.cn/ircs/company/companyDetail?stockcode=000026&orgId=gssz0000026 | | August 25, 2020 | Company | Field survey | Institution | Shenzhen Upright Asset Management Co., Ltd., Shanghai Huahong Asset Management Co., Ltd., China Southern Asset Management Co., Ltd. | The Company communicated with investors on the businesses of watch brands, watch retail service, precision technology, new business development of smart watch, etc. | http://irm.cninfo.com.cn/ircs/company/companyDetail?stockcode=000026&orgId=gssz0000026 |
Section 4. Financial Statements I. Financial Statements 1. Consolidated Balance Sheet Prepared by FIYTA Precision Technology Co., Ltd. September 30, 2020 In CNY | Items | September 30, 2020 | December 31, 2019 | | Current assets: | | | | Monetary capital | 440,841,813.69 | 316,668,565.09 | | Settlement reserve | | | | Inter-bank lending | | | | Transactional financial assets | | | | Derivative financial assets | | | | Notes receivable | 31,643,491.93 | 10,596,431.31 | | Accounts receivable | 517,102,018.23 | 397,471,106.98 | | Financing with accounts receivable | | | | Advance payment | 12,543,010.78 | 10,847,962.28 | | Receivable premium | | | | Reinsurance accounts receivable | | | | Reserve for reinsurance contract receivable | | | | Other receivables | 59,088,262.37 | 47,239,844.58 | | Including: Interest receivable | | | | Dividends receivable | | | | Redemptory monetary capital for sale | | | | Inventories | 1,851,085,988.74 | 1,808,820,089.92 | | Contract assets | | | | Held-for-sale assets | | | | Non-current assets due within a year | | | | Other current assets | 42,265,897.66 | 68,858,096.74 | | Total current assets | 2,954,570,483.40 | 2,660,502,096.90 | | Non-current assets: | | | | Loan issuing and advance in cash | | | | Equity investment | | | | Other equity investment | | | | Long term accounts receivable | | | | Long-term equity investment | 48,584,749.77 | 46,423,837.85 | | Investment in other equity instruments | 85,000.00 | 85,000.00 | | Other non-current financial assets | | | | Investment-oriented real estate | 396,071,321.43 | 407,503,307.24 | | Fixed assets | 355,715,871.10 | 363,997,098.94 | | Construction-in-process | | | | Productive biological asset | | | | Oil and gas assets | | | | Use right assets | | | | Intangible assets | 37,576,653.88 | 38,711,821.26 | | Development expenses | | |
| Goodwill | | | | Long-term expenses to be apportioned | 118,970,575.96 | 152,587,491.33 | | Deferred income tax asset | 95,931,960.70 | 83,739,383.37 | | Other non-current assets | 20,641,356.90 | 7,373,248.48 | | Other non-current assets | 1,073,577,489.74 | 1,100,421,188.47 | | Total assets | 4,028,147,973.14 | 3,760,923,285.37 | | Current liabilities: | | | | Short term borrowings | 716,018,456.37 | 567,908,833.21 | | Borrowings from central bank | | | | Loans from other banks | | | | Transactional financial liabilities | | | | Derivative financial liabilities | | | | Notes payable | 2,523,392.75 | | | Accounts payable | 196,109,158.10 | 279,772,787.37 | | Advance receipts | 7,603,874.94 | 23,433,463.57 | | Contract liabilities | 17,765,957.61 | | | Income from sale of the repurchased financial assets | | | | Deposits taking and interbank placement | | | | Acting trading securities | | | | Acting underwriting securities | | | | Payroll payable | 82,407,386.00 | 82,602,845.67 | | Tax payable | 88,754,288.51 | 24,064,803.00 | | Other payables | 161,123,219.49 | 119,616,721.63 | | Including: interest payable | | | | Dividends payable | 1,639,513.77 | 848,233.27 | | Service charge and commission payable | | | | Payable reinsurance | | | | Held-for-sale liabilities | | | | Non-current liabilities due within a year | 367,555.00 | 360,140.00 | | Other current liabilities | | | | Total current liabilities | 1,272,673,288.77 | 1,097,759,594.45 | | Non-current liabilities: | | | | Reserve for insurance contract | | | | Long-term borrowings | 4,134,993.75 | 4,321,680.00 | | Bonds payable | | | | Including: preferred shares | | | | Perpetual bond | | | | Lease liabilities | | | | Long-term accounts payable | | | | Long-term payroll payable | | | | Estimated liabilities | | | | Deferred income | 3,046,090.60 | 3,046,090.60 | | Deferred income tax liability | 1,192,721.71 | 1,256,242.49 | | Other non-current liabilities | | | | Total non-current liabilities | 8,373,806.06 | 8,624,013.09 | | Total liabilities | 1,281,047,094.83 | 1,106,383,607.54 | | Owner’s equity: | | | | Capital stock | 428,124,881.00 | 442,968,881.00 | | Other equity instruments | | | | Including: preferred shares | | | | Perpetual bond | | |
| Capital Reserve | 1,020,369,728.84 | 1,081,230,215.32 | | Less: shares in stock | 34,143,512.92 | 71,267,118.78 | | Other comprehensive income | 1,042,046.91 | -940,209.09 | | Special reserve | | | | Surplus reserve | 235,701,180.14 | 235,701,180.14 | | Reserve against general risks | | | | Retained earnings | 1,095,993,726.33 | 966,840,818.40 | | Total owners’ equity attributable to the parent company | 2,747,088,050.30 | 2,654,533,766.99 | | Minority shareholders’ equity | 12,828.01 | 5,910.84 | | Total owner’s equity | 2,747,100,878.31 | 2,654,539,677.83 | | Total liabilities and owners’ equity | 4,028,147,973.14 | 3,760,923,285.37 |
| Items | September 30, 2020 | December 31, 2019 | | Current assets: | | | | Monetary capital | 382,704,156.08 | 270,673,346.02 | | Transactional financial assets | | | | Derivative financial assets | | | | Notes receivable | | | | Accounts receivable | 4,601,359.38 | 2,848,025.39 | | Financing with accounts receivable | | | | Advance payment | | | | Other receivables | 554,793,665.23 | 783,647,732.22 | | Including: Interest receivable | | | | Dividends receivable | | | | Inventories | | | | Contract assets | | | | Held-for-sale assets | | | | Non-current assets due within a year | | | | Other current assets | 14,867,043.32 | 12,380,243.67 | | Total current assets | 956,966,224.01 | 1,069,549,347.30 | | Non-current assets: | | | | Equity investment | | | | Other equity investment | | |
| Long term accounts receivable | | | | Long-term equity investment | 1,525,691,030.77 | 1,380,895,239.27 | | Investment in other equity instruments | 85,000.00 | 85,000.00 | | Other non-current financial assets | | | | Investment-oriented real estate | 320,595,550.70 | 329,970,083.18 | | Fixed assets | 233,343,607.87 | 238,594,698.50 | | Construction-in-process | | | | Productive biological asset | | | | Oil and gas assets | | | | Use right assets | | | | Intangible assets | 27,776,395.34 | 30,925,974.54 | | Development expenses | | | | Goodwill | | | | Long-term expenses to be apportioned | 11,351,518.54 | 12,106,759.98 | | Deferred income tax asset | 1,376,549.26 | 1,125,840.75 | | Other non-current assets | 978,090.78 | 4,707,236.86 | | Other non-current assets | 2,121,197,743.26 | 1,998,410,833.08 | | Total assets | 3,078,163,967.27 | 3,067,960,180.38 | | Current liabilities: | | | | Short term borrowings | 590,589,473.11 | 540,650,622.50 | | Transactional financial liabilities | | | | Derivative financial liabilities | | | | Notes payable | | | | Accounts payable | 1,472,585.49 | 12,952,934.93 | | Advance receipts | 7,603,874.94 | 3,434,407.04 | | Contract liabilities | | | | Payroll payable | 16,736,608.17 | 19,019,554.57 | | Tax payable | 2,918,105.69 | 1,713,130.68 | | Other payables | 172,983,998.72 | 82,631,590.46 | | Including: interest payable | | | | Dividends payable | 1,639,513.77 | 848,233.27 | | Held-for-sale liabilities | | | | Non-current liabilities due within a year | | | | Other current liabilities | | |
| Total current liabilities | 792,304,646.12 | 660,402,240.18 | | Non-current liabilities: | | | | Long-term borrowings | | | | Bonds payable | | | | Including: preferred shares | | | | Perpetual bond | | | | Lease liabilities | | | | Long-term accounts payable | | | | Long-term payroll payable | | | | Estimated liabilities | | | | Deferred income | 3,046,090.60 | 3,046,090.60 | | Deferred income tax liability | | | | Other non-current liabilities | | | | Total non-current liabilities | 3,046,090.60 | 3,046,090.60 | | Total liabilities | 795,350,736.72 | 663,448,330.78 | | Owner’s equity: | | | | Capital stock | 428,124,881.00 | 442,968,881.00 | | Other equity instruments | | | | Including: preferred shares | | | | Perpetual bond | | | | Capital Reserve | 1,026,025,269.94 | 1,086,885,756.42 | | Less: shares in stock | 34,143,512.92 | 71,267,118.78 | | Other comprehensive income | | | | Special reserve | | | | Surplus reserve | 235,701,180.14 | 235,701,180.14 | | Retained earnings | 627,105,412.39 | 710,223,150.82 | | Total owner’s equity | 2,282,813,230.55 | 2,404,511,849.60 | | Total liabilities and owners’ equity | 3,078,163,967.27 | 3,067,960,180.38 |
| Items | Amount incurred in the reporting period | Amount incurred in the previous period | | I. Turnover | 1,362,598,720.97 | 954,666,662.24 | | Including: operating income | 1,362,598,720.97 | 954,666,662.24 | | Interest income | | | | Earned insurance premium | | | | Service charge and commission income | | | | II. Total operating costs | 1,198,816,461.60 | 876,598,070.04 | | Including: Operating costs | 843,233,284.52 | 564,943,912.45 | | Interest payment | | | | Service charge and commission payment | | | | Surrender value | | | | Compensation expenses, net | | | | Appropriation of deposit for duty, net | | | | Payment of policy dividend | | | | Reinsurance expenses | | | | Taxes and surcharges | 7,405,733.89 | 6,936,197.27 | | Sales costs | 260,163,151.98 | 223,791,184.02 | | Administrative expenses | 64,037,821.40 | 58,166,098.53 | | R & D expenditures | 14,061,457.65 | 14,631,757.35 | | Financial expenses | 9,915,012.16 | 8,128,920.42 | | Where: Interest cost | 5,972,320.59 | 6,261,557.28 | | Interest income | 988,152.65 | 646,724.70 | | Plus: Other income | 9,981,129.79 | 321,181.31 | | Investment income (loss is stated with “-”) | | | | Including: return on investment in associates and joint ventures | | | | Income from the derecognition of the financial assets measured at amortised cost | | | | Exchange income (loss stated with “-”) | | | | Net exposure hedge income (loss | | |
| stated with “-”) | | | | Income from change of fair value (loss is stated with “-”) | | | | Loss from impairment of credit (loss is stated with “-”) | -2,704,695.51 | -5,221,223.17 | | Loss from impairment of assets (loss is stated with “-”) | | -298,243.29 | | Income from disposal of assets (loss is stated with “-”) | -175,929.69 | -671,226.52 | | III. Operating Profit (loss is stated with “-”) | 170,882,763.96 | 72,199,080.53 | | Plus: Non-operating income | 304,089.17 | 194,829.48 | | Less: non-operating expenditures | 289,010.70 | 159,270.28 | | IV. Total profit (total loss is stated with “-”) | 170,897,842.43 | 72,234,639.73 | | Less: Income tax expense | 33,842,369.19 | 16,999,335.26 | | V. Net Profit (net loss is stated with “-”) | 137,055,473.24 | 55,235,304.47 | | (I) Classification based on operation sustainability | | | | 1. Net Profit from sustainable operation (net loss is stated with “-”) | 137,055,473.24 | 55,235,304.47 | | 2. Net Profit from termination of operation (net loss is stated with “-”) | | | | (II) Classification by ownership | | | | (II) Classification by ownership | 137,048,377.83 | 55,235,304.47 | | 2. Minority shareholders’ gain/loss | 7,095.41 | | | VI. Net of other comprehensive income after tax | -2,340,800.66 | 2,338,089.70 | | Net of other comprehensive income after tax attributable to the parent company’s owner | -2,347,621.58 | 2,337,932.27 | | (I) Other comprehensive income which cannot be re-classified into gain and loss | | | | 1. Movement of the net liabilities and net assets re-measured for setting the beneficial plan | | | | 2. Other comprehensive income which cannot be converted into gain and loss based on the equity method | | | | 3. Movement of the fair value of | | |
| the investment in other equity instruments | | | | 4. Movement of the fair value of the Company’s own credit risk | | | | 5. Others | | | | (II) Other comprehensive income which shall be re-classified into gain and loss | -2,347,621.58 | 2,337,932.27 | | 1. Other comprehensive income which can be converted into gain and loss based on the equity method | | | | 2. Movement of the fair value of the investment in other debt instruments | | | | 3. Amount of the reclassified financial assets counted to the other comprehensive income | | | | 4. Provision for impairment of the credit of the other debt investment | | | | 5. Reserve for cash flow hedge | | | | 6. Conversion difference in foreign currency statements | -2,347,621.58 | 2,337,932.27 | | 7. Others | | | | Net amount of other comprehensive income after tax attributable to minority shareholders | 6,820.92 | 157.43 | | VII. Total comprehensive income | 134,714,672.58 | 57,573,394.17 | | Total comprehensive income attributable to the parent company’s owner | 134,700,756.25 | 57,573,236.74 | | Total comprehensive income attributable to minority shareholders | 13,916.33 | 157.43 | | VIII. Earnings per share: | | | | (I) Basic earnings per share | 0.3165 | 0.1251 | | (II) Diluted earnings per share | 0.3165 | 0.1251 |
| Items | Amount incurred in the reporting period | Amount incurred in the previous period |
| I. Revenue | 34,456,446.13 | 33,546,911.62 | | Less: Operating cost | 10,273,343.94 | 5,542,524.31 | | Taxes and surcharges | 1,034,115.18 | 1,069,002.12 | | Sales costs | 446,985.73 | 309,531.74 | | Administrative expenses | 20,777,543.95 | 19,357,558.70 | | R & D expenditures | 5,132,505.68 | 3,775,597.88 | | Financial expenses | 723,880.29 | 2,197,814.39 | | Where: Interest cost | 1,663,358.72 | 2,484,924.80 | | Interest income | 879,329.31 | 581,627.16 | | Plus: Other income | 5,031,830.00 | 17,728.76 | | Investment income (loss is stated with “-”) | | | | Including: return on investment in associates and joint ventures | | | | Income from the derecognition of the financial assets measured at amortised cost | | | | Net exposure hedge income (loss stated with “-”) | | | | Income from change of fair value (loss is stated with “-”) | | | | Loss from impairment of credit (loss is stated with “-”) | | | | Loss from impairment of assets (loss is stated with “-”) | | | | Income from disposal of assets (loss is stated with “-”) | -1,341.79 | -644,966.93 | | II. Operating Profit (loss is stated with “-”) | 1,098,559.57 | 667,644.31 | | Plus: Non-operating income | 152,070.00 | 22,200.00 | | Less: non-operating expenditures | 15,864.83 | 10,174.24 | | III. Total profit (total loss is stated with “-”) | 1,234,764.74 | 679,670.07 | | Less: Income tax expense | | 364,641.77 | | IV. Net Profit (net loss is stated with “-”) | 1,234,764.74 | 315,028.30 | | (I) Net Profit from sustainable operation (net loss is stated with “-”) | 1,234,764.74 | 315,028.30 | | (II) Net Profit from termination of operation (net loss is stated with “-”) | | |
| V. Net of other comprehensive income after tax | | | | (I) Other comprehensive income which cannot be re-classified into gain and loss | | | | 1. Movement of the net liabilities and net assets re-measured for setting the beneficial plan | | | | 2. Other comprehensive income which cannot be converted into gain and loss based on the equity method | | | | 3. Movement of the fair value of the investment in other equity instruments | | | | 4. Movement of the fair value of the Company’s own credit risk | | | | 5. Others | | | | (II) Other comprehensive income which shall be re-classified into gain and loss | | | | 1. Other comprehensive income which can be converted into gain and loss based on the equity method | | | | 2. Movement of the fair value of the investment in other debt instruments | | | | 3. Amount of the reclassified financial assets counted to the other comprehensive income | | | | 4. Provision for impairment of the credit of the other debt investment | | | | 5. Reserve for cash flow hedge | | | | 6. Conversion difference in foreign currency statements | | | | 7. Others | | | | VI. Total comprehensive income | 1,234,764.74 | 315,028.30 | | VII. Earnings per share: | | | | (I) Basic earnings per share | 0.0028 | 0.0007 | | (II) Diluted earnings per share | 0.0028 | 0.0007 |
Legal representative: Huang Yongfeng Chief Financial Officer: Chen ZhuoPerson in charge of the Accounting Department: Tian Hui 5. Consolidated Profit Statement from the Year Beginning to the End of the Reporting Period In CNY | Items | Amount incurred in the reporting period | Amount incurred in the previous period | | I. Turnover | 2,944,433,436.00 | 2,739,702,682.47 | | Including: operating income | 2,944,433,436.00 | 2,739,702,682.47 | | Interest income | | | | Earned insurance premium | | | | Service charge and commission income | | | | II. Total operating costs | 2,699,924,997.52 | 2,511,091,261.78 | | Including: Operating costs | 1,820,668,961.39 | 1,616,447,987.67 | | Interest payment | | | | Service charge and commission payment | | | | Surrender value | | | | Compensation expenses, net | | | | Appropriation of deposit for duty, net | | | | Payment of policy dividend | | | | Reinsurance expenses | | | | Taxes and surcharges | 14,676,717.58 | 22,031,072.60 | | Sales costs | 641,091,464.49 | 639,567,212.97 | | Administrative expenses | 162,278,170.13 | 174,518,933.95 | | R & D expenditures | 34,765,728.41 | 34,158,168.28 | | Financial expenses | 26,443,955.52 | 24,367,886.31 | | Where: Interest cost | 19,457,991.26 | 18,285,401.21 | | Interest income | 3,470,874.47 | 1,555,575.62 | | Plus: Other income | 20,135,145.46 | 13,366,923.67 | | Investment income (loss is stated with “-”) | 2,160,911.92 | 1,531,310.06 | | Including: return on investment in associates and joint ventures | 2,160,911.92 | 1,531,310.06 |
| Income from the derecognition of the financial assets measured at amortised cost | | | | Exchange income (loss stated with “-”) | | | | Net exposure hedge income (loss stated with “-”) | | | | Income from change of fair value (loss is stated with “-”) | | | | Loss from impairment of credit (loss is stated with “-”) | -5,172,056.86 | -8,302,992.06 | | Loss from impairment of assets (loss is stated with “-”) | | 2,216,497.57 | | Income from disposal of assets (loss is stated with “-”) | -376,069.86 | -883,236.65 | | III. Operating Profit (loss is stated with “-”) | 261,256,369.14 | 236,539,923.28 | | Plus: Non-operating income | 1,695,948.59 | 489,141.18 | | Less: non-operating expenditures | 407,657.11 | 683,776.26 | | IV. Total profit (total loss is stated with “-”) | 262,544,660.62 | 236,345,288.20 | | Less: Income tax expense | 47,750,281.08 | 57,614,522.82 | | V. Net Profit (net loss is stated with “-”) | 214,794,379.54 | 178,730,765.38 | | (I) Classification based on operation sustainability | | | | 1. Net Profit from sustainable operation (net loss is stated with “-”) | 214,794,379.54 | 178,730,765.38 | | 2. Net Profit from termination of operation (net loss is stated with “-”) | | | | (II) Classification by ownership | | | | (II) Classification by ownership | 214,787,284.13 | 178,730,765.38 | | 2. Minority shareholders’ gain/loss | 7,095.41 | | | VI. Net of other comprehensive income after tax | 1,989,173.17 | 4,087,510.57 | | Net of other comprehensive income after tax attributable to the parent company’s owner | 1,982,256.00 | 4,087,339.47 | | (I) Other comprehensive income which cannot be re-classified into gain and loss | | | | 1. Movement of the net liabilities | | |
| and net assets re-measured for setting the beneficial plan | | | | 2. Other comprehensive income which cannot be converted into gain and loss based on the equity method | | | | 3. Movement of the fair value of the investment in other equity instruments | | | | 4. Movement of the fair value of the Company’s own credit risk | | | | 5. Others | | | | (II) Other comprehensive income which shall be re-classified into gain and loss | 1,982,256.00 | 4,087,339.47 | | 1. Other comprehensive income which can be converted into gain and loss based on the equity method | | | | 2. Movement of the fair value of the investment in other debt instruments | | | | 3. Amount of the reclassified financial assets counted to the other comprehensive income | | | | 4. Provision for impairment of the credit of the other debt investment | | | | 5. Reserve for cash flow hedge | | | | 6. Conversion difference in foreign currency statements | 1,982,256.00 | 4,087,339.47 | | 7. Others | | | | Net amount of other comprehensive income after tax attributable to minority shareholders | 6,917.17 | 171.10 | | VII. Total comprehensive income | 216,783,552.71 | 182,818,275.95 | | Total comprehensive income attributable to the parent company’s owner | 216,769,540.13 | 182,818,104.85 | | Total comprehensive income attributable to minority shareholders | 14,012.58 | 171.10 | | VIII. Earnings per share: | | | | (I) Basic earnings per share | 0.4940 | 0.4039 | | (II) Diluted earnings per share | 0.4940 | 0.4039 |
Person in charge of the Accounting Department: Tian Hui 6. Profit Statement from the Year Beginning to the End of the Reporting Period, Parent Company In CNY | Items | Amount incurred in the reporting period | Amount incurred in the previous period | | I. Revenue | 91,769,664.54 | 97,671,851.57 | | Less: Operating cost | 27,899,734.18 | 17,350,450.21 | | Taxes and surcharges | 2,650,223.33 | 3,326,021.04 | | Sales costs | 1,044,603.75 | 891,567.77 | | Administrative expenses | 52,184,214.92 | 59,140,707.86 | | R & D expenditures | 13,121,598.22 | 12,922,187.52 | | Financial expenses | 4,182,255.68 | 5,445,503.71 | | Where: Interest cost | 7,027,728.92 | 6,492,451.34 | | Interest income | 3,243,236.75 | 1,357,673.60 | | Plus: Other income | 9,366,586.32 | 7,761,424.65 | | Investment income (loss is stated with “-”) | 2,160,911.92 | 1,531,310.06 | | Including: return on investment in associates and joint ventures | 2,160,911.92 | 1,531,310.06 | | Income from the derecognition of the financial assets measured at amortised cost | | | | Net exposure hedge income (loss stated with “-”) | | | | Income from change of fair value (loss is stated with “-”) | | | | Loss from impairment of credit (loss is stated with “-”) | -100,902.52 | -64,803.91 | | Loss from impairment of assets (loss is stated with “-”) | | | | Income from disposal of assets (loss is stated with “-”) | -16,983.37 | -647,041.13 | | II. Operating Profit (loss is stated with “-”) | 2,096,646.81 | 7,176,303.13 | | Plus: Non-operating income | 185,147.28 | 40,200.00 | | Less: non-operating expenditures | 15,864.83 | 210,174.24 | | III. Total profit (total loss is stated with “-”) | 2,265,929.26 | 7,006,328.89 |
| Less: Income tax expense | -250,708.51 | 1,538,814.16 | | IV. Net Profit (net loss is stated with “-”) | 2,516,637.77 | 5,467,514.73 | | (I) Net Profit from sustainable operation (net loss is stated with “-”) | 2,516,637.77 | 5,467,514.73 | | (II) Net Profit from termination of operation (net loss is stated with “-”) | | | | V. Net of other comprehensive income after tax | | | | (I) Other comprehensive income which cannot be re-classified into gain and loss | | | | 1. Movement of the net liabilities and net assets re-measured for setting the beneficial plan | | | | 2. Other comprehensive income which cannot be converted into gain and loss based on the equity method | | | | 3. Movement of the fair value of the investment in other equity instruments | | | | 4. Movement of the fair value of the Company’s own credit risk | | | | 5. Others | | | | (II) Other comprehensive income which shall be re-classified into gain and loss | | | | 1. Other comprehensive income which can be converted into gain and loss based on the equity method | | | | 2. Movement of the fair value of the investment in other debt instruments | | | | 3. Amount of the reclassified financial assets counted to the other comprehensive income | | | | 4. Provision for impairment of the credit of the other debt investment | | | | 5. Reserve for cash flow hedge | | | | 6. Conversion difference in foreign currency statements | | | | 7. Others | | | | VI. Total comprehensive income | 2,516,637.77 | 5,467,514.73 |
| VII. Earnings per share: | | | | (I) Basic earnings per share | 0.0058 | 0.0123 | | (II) Diluted earnings per share | 0.0058 | 0.0123 |
| Items | Amount incurred in the reporting period | Amount incurred in the previous period | | I. Net cash flows arising from operating activities: | | | | Cash received from sales of goods and supply of labor service | 3,097,232,379.30 | 2,957,222,327.75 | | Net increase of customers’ deposits and inter-bank deposits | | | | Net increase of borrowings from the central bank | | | | Net increase of borrowings from other financial institutions | | | | Cash received from the premium of the original insurance contract | | | | Net cash received from the reinsurance business | | | | Net increase of the reserve from policy holders and investment | | | | Cash received from interest, service charge and commission | | | | Net increase of loan from other banks | | | | Net increase of fund from repurchase business | | | | Net cash received from securities trading on commission | | | | Rebated tax received | 1,592,055.84 | 5,027,853.96 | | Other operation activity related cash receipts | 52,861,160.51 | 62,653,660.31 | | Subtotal of cash flow in from operating | 3,151,685,595.65 | 3,024,903,842.02 |
| activity | | | | Cash paid for purchase of goods and reception of labor services | 2,086,461,819.63 | 1,726,446,571.91 | | Net increase of loans and advances to customers | | | | Net increase of due from central bank and due from other banks | | | | Cash from payment for settlement of the original insurance contract | | | | Net increase of the lending capital | | | | Cash paid for interest, service charge and commission | | | | Cash for payment of policy dividend | | | | Cash paid to and for staff | 429,628,382.76 | 448,253,502.51 | | Various taxes and duties paid | 121,220,554.66 | 187,144,694.13 | | Other business activity related cash payments | 298,226,010.81 | 358,331,158.96 | | Subtotal of cash flow out from operating activity | 2,935,536,767.86 | 2,720,175,927.51 | | Net cash flows arising from operating activities | 216,148,827.79 | 304,727,914.51 | | II. Net cash flow arising from investment activities: | | | | Cash received from recovery of investment | | | | Cash received from investment income | | | | Net cash recovered from disposal of the fixed assets, intangible assets and other long-term assets | 84,522.81 | 203,980.63 | | Net cash received from disposal of subsidiaries and other operating units | | | | Other investment related cash receipts | | | | Subtotal of cash flow in from investment activity | 84,522.81 | 203,980.63 | | Cash paid for purchase/construction of fixed assets, intangible assets and other long term assets | 90,396,549.63 | 120,991,258.41 | | Cash paid for investment | | |
| Net increase of the pledged loan | | | | Net cash paid for acquisition of subsidiaries and other operating units | | | | Other investment related cash payments | | | | Subtotal of cash flow out from investment activity | 90,396,549.63 | 120,991,258.41 | | Net cash flow arising from investment activities | -90,312,026.82 | -120,787,277.78 | | III. Net cash flow arising from financing activities: | | | | Cash received from absorption of investment | | 18,585,600.00 | | Including: Cash received from the subsidiaries’ absorption of minority shareholders’ investment | | | | Cash received from loans | 722,430,000.00 | 597,562,376.07 | | Other fund-raising related cash receipts | | | | Subtotal of cash flow in from fund raising activity | 722,430,000.00 | 616,147,976.07 | | Cash paid for debt repayment | 574,529,887.95 | 548,724,597.97 | | Cash paid for dividend/profit distribution or repayment of interest | 104,338,909.03 | 105,454,043.34 | | Including: Dividend and profit paid by the subsidiaries to minority shareholders | | | | Cash paid for other financing activities | 44,625,838.93 | 39,785,028.98 | | Sub-total of cash flow paid for financing activities | 723,494,635.91 | 693,963,670.29 | | Net cash flow arising from financing activities | -1,064,635.91 | -77,815,694.22 | | IV. Influence of the change of exchange rate on the cash and cash equivalents | -598,916.46 | 335,308.39 | | V. Net increase of cash and cash equivalents | 124,173,248.60 | 106,460,250.90 | | Plus: Opening balance of cash and cash equivalents | 315,093,565.09 | 162,623,059.97 | | VI. Ending balance of cash and cash equivalents | 439,266,813.69 | 269,083,310.87 |
Legal representative: Huang Yongfeng Chief Financial Officer: Chen ZhuoPerson in charge of the Accounting Department: Tian Hui 8. Cash Flow Statement from the Year Beginning to the End of the Reporting Period, Parent Company In CNY | Items | Amount incurred in the reporting period | Amount incurred in the previous period | | I. Net cash flows arising from operating activities: | | | | Cash received from sales of goods and supply of labor service | 119,137,070.41 | 105,592,825.76 | | Rebated tax received | | | | Other operation activity related cash receipts | 3,011,984,090.35 | 2,875,812,023.94 | | Subtotal of cash flow in from operating activity | 3,131,121,160.76 | 2,981,404,849.70 | | Cash paid for purchase of goods and reception of labor services | | | | Cash paid to and for staff | 47,835,903.16 | 58,785,766.63 | | Various taxes and duties paid | 7,536,504.27 | 7,943,935.36 | | Other business activity related cash payments | 2,711,117,168.79 | 2,719,708,117.98 | | Subtotal of cash flow out from operating activity | 2,766,489,576.22 | 2,786,437,819.97 | | Net cash flows arising from operating activities | 364,631,584.54 | 194,967,029.73 | | II. Net cash flow arising from investment activities: | | | | Cash received from recovery of investment | | | | Cash received from investment income | | | | Net cash recovered from disposal of the fixed assets, intangible assets and other long-term assets | 1,550.00 | 134,060.00 | | Net cash received from disposal of subsidiaries and other operating units | | | | Other investment related cash receipts | | | | Subtotal of cash flow in from investment | 1,550.00 | 134,060.00 |
| activity | | | | Cash paid for purchase/construction of fixed assets, intangible assets and other long term assets | 16,237,898.29 | 33,684,664.21 | | Cash paid for investment | 139,500,000.00 | | | Net cash paid for acquisition of subsidiaries and other operating units | | | | Other investment related cash payments | | | | Subtotal of cash flow out from investment activity | 155,737,898.29 | 33,684,664.21 | | Net cash flow arising from investment activities | -155,736,348.29 | -33,550,604.21 | | III. Net cash flow arising from financing activities: | | | | Cash received from absorption of investment | | 18,585,600.00 | | Cash received from loans | 600,000,000.00 | 570,000,000.00 | | Other fund-raising related cash receipts | | | | Subtotal of cash flow in from fund raising activity | 600,000,000.00 | 588,585,600.00 | | Cash paid for debt repayment | 550,000,000.00 | 505,000,000.00 | | Cash paid for dividend/profit distribution or repayment of interest | 102,195,242.57 | 104,638,171.74 | | Cash paid for other financing activities | 44,625,838.93 | 39,785,028.98 | | Sub-total of cash flow paid for financing activities | 696,821,081.50 | 649,423,200.72 | | Net cash flow arising from financing activities | -96,821,081.50 | -60,837,600.72 | | IV. Influence of the change of exchange rate on the cash and cash equivalents | -43,344.69 | 51,655.47 | | V. Net increase of cash and cash equivalents | 112,030,810.06 | 100,630,480.27 | | Plus: Opening balance of cash and cash equivalents | 269,098,346.02 | 134,970,466.27 | | VI. Ending balance of cash and cash equivalents | 381,129,156.08 | 235,600,946.54 |
Legal representative: Huang Yongfeng Chief Financial Officer: Chen ZhuoPerson in charge of the Accounting Department: Tian HuiII. Note to the Adjustment of the Financial Statements 1. Adjustment of the relevant financial statements at the current year beginning according to the new standardsfor revenues and the new standards for lease initially implemented commencing from 2020Is it necessary to adjust the balance sheet at the year beginningYesConsolidated Balance Sheet In CNY | Items | December 31, 2019 | January 01, 2020 | Amount adjusted | | Current assets: | | | | | Monetary capital | 316,668,565.09 | 316,668,565.09 | | | Settlement reserve | | | | | Inter-bank lending | | | | | Transactional financial assets | | | | | Derivative financial assets | | | | | Notes receivable | 10,596,431.31 | 10,596,431.31 | | | Accounts receivable | 397,471,106.98 | 397,471,106.98 | | | Financing with accounts receivable | | | | | Advance payment | 10,847,962.28 | 10,847,962.28 | | | Receivable premium | | | | | Reinsurance accounts receivable | | | | | Reserve for reinsurance contract receivable | | | | | Other receivables | 47,239,844.58 | 47,239,844.58 | | | Including: Interest receivable | | | | | Dividends receivable | | | | | Redemptory monetary capital for sale | | | |
| Inventories | 1,808,820,089.92 | 1,808,820,089.92 | | | Contract assets | | | | | Held-for-sale assets | | | | | Non-current assets due within a year | | | | | Other current assets | 68,858,096.74 | 68,858,096.74 | | | Total current assets | 2,660,502,096.90 | 2,660,502,096.90 | | | Non-current assets: | | | | | Loan issuing and advance in cash | | | | | Equity investment | | | | | Other equity investment | | | | | Long term accounts receivable | | | | | Long-term equity investment | 46,423,837.85 | 46,423,837.85 | | | Investment in other equity instruments | 85,000.00 | 85,000.00 | | | Other non-current financial assets | | | | | Investment-oriented real estate | 407,503,307.24 | 407,503,307.24 | | | Fixed assets | 363,997,098.94 | 363,997,098.94 | | | Construction-in-process | | | | | Productive biological asset | | | | | Oil and gas assets | | | | | Use right assets | | | | | Intangible assets | 38,711,821.26 | 38,711,821.26 | | | Development expenses | | | | | Goodwill | | | | | Long-term expenses to be apportioned | 152,587,491.33 | 152,587,491.33 | | | Deferred income tax asset | 83,739,383.37 | 83,739,383.37 | | | Other non-current assets | 7,373,248.48 | 7,373,248.48 | | | Other non-current assets | 1,100,421,188.47 | 1,100,421,188.47 | | | Total assets | 3,760,923,285.37 | 3,760,923,285.37 | |
| Current liabilities: | | | | | Short term borrowings | 567,908,833.21 | 567,908,833.21 | | | Borrowings from central bank | | | | | Loans from other banks | | | | | Transactional financial liabilities | | | | | Derivative financial liabilities | | | | | Notes payable | | | | | Accounts payable | 279,772,787.37 | 279,772,787.37 | | | Advance receipts | 23,433,463.57 | 3,434,407.04 | -19,999,056.53 | | Contract liabilities | | 19,999,056.53 | 19,999,056.53 | | Income from sale of the repurchased financial assets | | | | | Deposits taking and interbank placement | | | | | Acting trading securities | | | | | Acting underwriting securities | | | | | Payroll payable | 82,602,845.67 | 82,602,845.67 | | | Tax payable | 24,064,803.00 | 24,064,803.00 | | | Other payables | 119,616,721.63 | 119,616,721.63 | | | Including: interest payable | | | | | Dividends payable | 848,233.27 | 848,233.27 | | | Service charge and commission payable | | | | | Payable reinsurance | | | | | Held-for-sale liabilities | | | | | Non-current liabilities due within a year | 360,140.00 | 360,140.00 | | | Other current liabilities | | | | | Total current liabilities | 1,097,759,594.45 | 1,097,759,594.45 | | | Non-current liabilities: | | | | | Reserve for insurance | | | |
| contract | | | | | Long-term borrowings | 4,321,680.00 | 4,321,680.00 | | | Bonds payable | | | | | Including: preferred shares | | | | | Perpetual bond | | | | | Lease liabilities | | | | | Long-term accounts payable | | | | | Long-term payroll payable | | | | | Estimated liabilities | | | | | Deferred income | 3,046,090.60 | 3,046,090.60 | | | Deferred income tax liability | 1,256,242.49 | 1,256,242.49 | | | Other non-current liabilities | | | | | Total non-current liabilities | 8,624,013.09 | 8,624,013.09 | | | Total liabilities | 1,106,383,607.54 | 1,106,383,607.54 | | | Owner’s equity: | | | | | Capital stock | 442,968,881.00 | 442,968,881.00 | | | Other equity instruments | | | | | Including: preferred shares | | | | | Perpetual bond | | | | | Capital Reserve | 1,081,230,215.32 | 1,081,230,215.32 | | | Less: shares in stock | 71,267,118.78 | 71,267,118.78 | | | Other comprehensive income | -940,209.09 | -940,209.09 | | | Special reserve | | | | | Surplus reserve | 235,701,180.14 | 235,701,180.14 | | | Reserve against general risks | | | | | Retained earnings | 966,840,818.40 | 966,840,818.40 | | | Total owners’ equity attributable to the parent company | 2,654,533,766.99 | 2,654,533,766.99 | | | Minority shareholders’ equity | 5,910.84 | 5,910.84 | | | Total owner’s equity | 2,654,539,677.83 | 2,654,539,677.83 | |
| Total liabilities and owners’ equity | 3,760,923,285.37 | 3,760,923,285.37 | |
| Items | December 31, 2019 | January 01, 2020 | Amount adjusted | | Current assets: | | | | | Monetary capital | 270,673,346.02 | 270,673,346.02 | | | Transactional financial assets | | | | | Derivative financial assets | | | | | Notes receivable | | | | | Accounts receivable | 2,848,025.39 | 2,848,025.39 | | | Financing with accounts receivable | | | | | Advance payment | | | | | Other receivables | 783,647,732.22 | 783,647,732.22 | | | Including: Interest receivable | | | | | Dividends receivable | | | | | Inventories | | | | | Contract assets | | | | | Held-for-sale assets | | | | | Non-current assets due within a year | | | | | Other current assets | 12,380,243.67 | 12,380,243.67 | | | Total current assets | 1,069,549,347.30 | 1,069,549,347.30 | | | Non-current assets: | | | | | Equity investment | | | | | Other equity investment | | | | | Long term accounts receivable | | | | | Long-term equity investment | 1,380,895,239.27 | 1,380,895,239.27 | | | Investment in other equity | 85,000.00 | 85,000.00 | |
| instruments | | | | | Other non-current financial assets | | | | | Investment-oriented real estate | 329,970,083.18 | 329,970,083.18 | | | Fixed assets | 238,594,698.50 | 238,594,698.50 | | | Construction-in-process | | | | | Productive biological asset | | | | | Oil and gas assets | | | | | Use right assets | | | | | Intangible assets | 30,925,974.54 | 30,925,974.54 | | | Development expenses | | | | | Goodwill | | | | | Long-term expenses to be apportioned | 12,106,759.98 | 12,106,759.98 | | | Deferred income tax asset | 1,125,840.75 | 1,125,840.75 | | | Other non-current assets | 4,707,236.86 | 4,707,236.86 | | | Other non-current assets | 1,998,410,833.08 | 1,998,410,833.08 | | | Total assets | 3,067,960,180.38 | 3,067,960,180.38 | | | Current liabilities: | | | | | Short term borrowings | 540,650,622.50 | 540,650,622.50 | | | Transactional financial liabilities | | | | | Derivative financial liabilities | | | | | Notes payable | | | | | Accounts payable | 12,952,934.93 | 12,952,934.93 | | | Advance receipts | 3,434,407.04 | 3,434,407.04 | | | Contract liabilities | | | | | Payroll payable | 19,019,554.57 | 19,019,554.57 | | | Tax payable | 1,713,130.68 | 1,713,130.68 | | | Other payables | 82,631,590.46 | 82,631,590.46 | | | Including: interest payable | | | | | Dividends payable | 848,233.27 | 848,233.27 | | | Held-for-sale liabilities | | | |
| Non-current liabilities due within a year | | | | | Other current liabilities | | | | | Total current liabilities | 660,402,240.18 | 660,402,240.18 | | | Non-current liabilities: | | | | | Long-term borrowings | | | | | Bonds payable | | | | | Including: preferred shares | | | | | Perpetual bond | | | | | Lease liabilities | | | | | Long-term accounts payable | | | | | Long-term payroll payable | | | | | Estimated liabilities | | | | | Deferred income | 3,046,090.60 | 3,046,090.60 | | | Deferred income tax liability | | | | | Other non-current liabilities | | | | | Total non-current liabilities | 3,046,090.60 | 3,046,090.60 | | | Total liabilities | 663,448,330.78 | 663,448,330.78 | | | Owner’s equity: | | | | | Capital stock | 442,968,881.00 | 442,968,881.00 | | | Other equity instruments | | | | | Including: preferred shares | | | | | Perpetual bond | | | | | Capital Reserve | 1,086,885,756.42 | 1,086,885,756.42 | | | Less: shares in stock | 71,267,118.78 | 71,267,118.78 | | | Other comprehensive income | | | | | Special reserve | | | | | Surplus reserve | 235,701,180.14 | 235,701,180.14 | | | Retained earnings | 710,223,150.82 | 710,223,150.82 | | | Total owner’s equity | 2,404,511,849.60 | 2,404,511,849.60 | | | Total liabilities and owners’ equity | 3,067,960,180.38 | 3,067,960,180.38 | |
2. Note to the retroactive adjustment of the previous comparative data according to the new standards forrevenue and the new standards for lease to be implemented commencing from year 2020InapplicableIII. Auditor’s ReportHas the third quarter report been auditedNo
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