Stock Code: 603609 Stock Abbreviation (English): Wellhope
Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd.
2020 Third Quarter Report
Contents
Section I Important Statements ...... 3
Section II Company Information ...... 4
Section III Important Disclosures ...... 8
Section IV Appendix ...... 10
Section I Important StatementsI. The Board of Directors, Supervisory Board, Directors, Supervisors and Senior Leadershipof Liaoning Wellhope hereby warrant that there are no false representations, misleadingstatements or material omissions in the third quarter report, jointly and severally acceptfull responsibility for the truthfulness, accuracy and completeness of the contents of thisreport.II. All the Directors attended the board meeting to deliberate the third quarter report.III. The Company's Chairman Weidong Jin and the Director of internal audit Wenliang Zhangwarrant the truthfulness, accuracy and completeness of the information presented in thefinancial statements in this report.IV. The third quarter report is unaudited.V. This report has been disclosed in both Chinese and English versions. In case there is anydiscrepancy or inconsistency between the two versions, the Chinese version shall prevail.The disclosed Chinese version of 2020 Third Quarter Report can be obtained at:
www.sse.com.cn.
Section II Company InformationI. Key Financial Figures
CNY
Item | September 30, 2020 | December 31, 2019 | Change % |
Total assets | 11,250,796,245.86 | 9,149,772,043.85 | 22.96 |
Net assets attributable to the shareholders of the Company | 6,446,000,440.81 | 5,698,139,557.54 | 13.12 |
Item | January-September, 2020 | January-September, 2019 | Year-on-year change % |
Net cash flow from operating activities | 282,805,713.73 | 582,911,553.62 | -51.48 |
Item | January-September, 2020 | January-September, 2019 | Year-on-year change % |
Operating revenue | 16,857,939,370.84 | 12,743,225,876.96 | 32.29 |
Net profit attributable to the shareholders of the Company | 928,184,218.31 | 713,087,990.71 | 30.16 |
Net profit attributable to the shareholders of the Company deducting non-recurring items | 919,750,306.36 | 704,761,464.34 | 30.51 |
Return on equity % | 15.29 | 15.57 | Decreased by 0.28 percentage points |
Basic earnings per share (CNY per share) | 1.01 | 0.80 | 26.25 |
Diluted earnings per share (CNY per share) | 1.01 | 0.80 | 26.25 |
Non-recurring items
CNY
Item | July-September, 2020 | January-September, 2020 |
Gains or losses on disposal of non-current assets | -2,312,747.53 | -2,879,833.68 |
Government grants charged to current gains or losses (excl. the government grants that are closely related to the Company's ordinary course of business and gained constantly at fixed quotas or amounts as per certain standards based on the state polices) | 7,813,536.65 | 20,438,735.72 |
Gains or losses on fair value changes in holding the trading financial assets and liabilities as well as derivative financial assets and liabilities, and investment income from disposal of the trading financial assets and liabilities, derivative financial assets and liabilities as well as other debt investment (excl. the effective portion of hedges that arise in the Company's ordinary course of business) | 2,453,322.25 | 553,325.70 |
Non-operating income and expense other than those described above | 109,992.00 | -4,850,061.70 |
Non-controlling interests effects (after-tax) | -2,025,081.60 | -2,621,451.79 |
Income tax effects | -1,030,626.04 | -2,206,802.30 |
Total | 5,008,395.73 | 8,433,911.95 |
II. The Number of Shareholders, Top Ten Shareholders and Top Ten ShareholdersHolding Unrestricted Shares as at the end of the Reporting Period
Share
The number of shareholders | 38,013 | ||||||
Shareholding of top ten shareholders | |||||||
Name of shareholder | Total shares held at the period-end | % | Restricted shares held | Pledged or Frozen | Nature of shareholder | ||
Status | Shares | ||||||
Weidong Jin | 149,549,498 | 16.22 | 3,062,117 | Pledged | 55,000,000 | Domestic natural person | |
DE HEUS MAURITIUS | 82,303,939 | 8.93 | 2,296,587 | - | - | Foreign corporation | |
Yunfeng Ding | 81,929,558 | 8.89 | 1,531,058 | Pledged | 47,620,000 | Domestic natural person | |
Caimei Shao | 49,773,878 | 5.40 | - | - | - | Domestic natural person | |
Tiesheng Zhang | 48,360,000 | 5.24 | - | Pledged | 6,600,000 | Domestic natural person | |
Wulian Heli Equity Investment Partnership (LP) | 48,360,000 | 5.24 | - | - | - | Other | |
Fengjiu Wang | 47,964,602 | 5.20 | - | Pledged | 5,190,000 | Domestic natural person | |
Zhongtao Wang | 46,625,229 | 5.06 | 765,529 | - | - | Domestic natural person | |
Zhongyi Asset Management- China Minsheng Banking Corp- Zhongyi Asset-Non-public Offering Selection No. 103 Asset Management Product | 18,953,539 | 2.06 | - | - | - | Other | |
Sinosafe Property and Asset Management- Industrial and Commercial Bank of China- Stably Increasing Profit No. 12 Collective Asset Management Product | 17,650,146 | 1.91 | - | - | - | Other |
Top ten shareholders holding unrestricted shares | |||
Name of shareholder | Unrestricted shares held | Shares by type | |
Type | Shares | ||
Weidong Jin | 146,487,381 | CNY common stock | 146,487,381 |
Yunfeng Ding | 80,398,500 | CNY common stock | 80,398,500 |
DE HEUS MAURITIUS | 80,007,352 | CNY common stock | 80,007,352 |
Caimei Shao | 49,773,878 | CNY common stock | 49,773,878 |
Tiesheng Zhang | 48,360,000 | CNY common stock | 48,360,000 |
Wulian Heli Equity Investment Partnership (LP) | 48,360,000 | CNY common stock | 48,360,000 |
Fengjiu Wang | 47,964,602 | CNY common stock | 47,964,602 |
Zhongtao Wang | 45,859,700 | CNY common stock | 45,859,700 |
Zhongyi Asset Management- China Minsheng Banking Corp- Zhongyi Asset-Non-public Offering Selection No. 103 Asset Management Product | 18,953,539 | CNY common stock | 18,953,539 |
Sinosafe Property and Asset Management- Industrial and Commercial Bank of China- Stably Increasing Profit No. 12 Collective Asset Management Product | 17,650,146 | CNY common stock | 17,650,146 |
Relationship of above shareholders or statement made by the parties acting in concert | 1. Weidong Jin, Yunfeng Ding, Fengjiu Wang, Caimei Shao and Zhongtao Wang act in concert. 2. Weidong Jin is the actual controller of Wulian Heli Equity Investment Partnership (LP). 3. No relation or concerted action is found among other shareholders. |
Section III Important DisclosuresI. Changes of Major Items in the Financial Statements
CNY
Balance sheet item | September 30, 2020 | January 1, 2020 | Change | Explanation |
Trading financial assets | 100,000,000.00 | 40,000,000.00 | 150.00% | Structural deposits increased |
Derivative financial assets | 8,246,791.00 | 3,912,584.30 | 110.78% | The position of derivative financial assets increased |
Notes receivable | 21,827,750.84 | 3,696,180.25 | 490.55% | Payment for commodities settled by negotiable instrument increased |
Accounts receivable | 866,444,569.60 | 362,060,802.38 | 139.31% | Newly increased accounts receivable during the settlement period |
Prepayments | 394,998,568.70 | 222,064,368.55 | 77.88% | Prepayment for raw materials increased |
Other receivables | 131,608,734.34 | 85,600,811.75 | 53.75% | Other receivables related to operating, petty cash increased |
Other equity instrument investment | 12,921,702.93 | 5,760,839.23 | 124.30% | Newly increased other equity instrument investment |
Construction in progress | 365,457,368.84 | 240,012,874.86 | 52.27% | The Company increased investment in the projects of broiler and swine integrations |
Biological assets | 202,574,066.97 | 94,826,312.88 | 113.63% | Breeders (swine) increased |
Other non-current assets | 540,392,843.78 | 337,463,267.56 | 60.13% | Advance payment for long-lived assets and feeding fees to farmers increased |
Accounts payable | 1,040,155,759.62 | 659,216,483.84 | 57.79% | Trade accounts payable increased |
Tax payable | 51,093,283.66 | 37,680,953.84 | 35.59% | Corporate income tax payable increased |
Non-current liabilities due within one year | 95,228,089.23 | 70,593,717.62 | 34.90% | Long-term borrowings and long-term payables due within one year increased |
Long-term borrowings | 352,830,000.00 | 174,330,000.00 | 102.39% | Long-term borrowings from bank increased |
Long-term payables | 49,398,235.14 | 11,025,000.09 | 348.06% | Payable for finance lease increased |
Deferred income tax liabilities | 813,350.90 | 396,995.58 | 104.88% | Deferred income tax liabilities recognized by taxable temporary differences increased |
Income statement item | January-September, 2020 | January-September, 2019 | Change | Explanation |
Operating revenue | 16,857,939,370.84 | 12,743,225,876.96 | 32.29% | Feed sales volume continued to grow and revenue of businesses in the industrial chain increased |
Operating cost | 15,254,503,331.16 | 11,419,337,434.95 | 33.58% | The growth of operating revenue drove the increase of operating cost |
Other income | 11,307,173.33 | 4,389,415.74 | 157.60% | Government grants increased |
Credit impairment loss | -44,982,365.28 | -27,678,451.02 | Not applicable | The accrual of bad-debt allowance increased |
Assets impairment loss | -17,267,757.41 | -5,409,240.15 | Not applicable | The accrual of allowance for inventory write-down increased |
Gain or loss from assets disposal | 1,987,707.93 | -566,068.09 | Not applicable | Gains from disposal of fixed assets increased |
Non-operating income | 11,539,843.27 | 18,299,191.94 | -36.94% | Government grants recorded in non-operating income declined |
Non-operating expenditure | 13,645,780.19 | 20,913,066.65 | -34.75% | Extraordinary loss decreased |
Income tax expense | 113,292,732.82 | 65,556,455.05 | 72.82% | The growth of profit drove the increase of income tax |
Cash flow statement item | January-September, 2020 | January-September, 2019 | Change | Explanation |
Net cash flow from operating activities | 282,805,713.73 | 582,911,553.62 | -51.48% | Due to the price of feed raw materials increased in the reporting period, the stock of raw materials increased |
Net cash flow from investing activities | -863,635,618.41 | -549,750,402.35 | Not applicable | Expanding business scale drove the expansion of asset investment and the increase of investment expenditure |
Net cash flow from financing activities | 386,307,052.53 | 616,139,019.52 | -37.30% | Payment for debt increased |
Company | Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. |
Legal representative | Weidong Jin |
Date | October 27, 2020 |
Section IV AppendixI. Financial Statement
Consolidated Balance SheetSeptember 30, 2020Liaoning Wellhope CNY
Item | September 30, 2020 | December 31, 2019 |
Current assets: | ||
Monetary capital | 1,327,491,810.09 | 1,554,781,324.13 |
Trading financial assets | 100,000,000.00 | 40,000,000.00 |
Derivative financial assets | 8,246,791.00 | 3,912,584.30 |
Notes receivable | 21,827,750.84 | 3,696,180.25 |
Accounts receivable | 866,444,569.60 | 362,060,802.38 |
Prepayments | 394,998,568.70 | 222,064,368.55 |
Other receivables | 131,608,734.34 | 85,600,811.75 |
including: Interest receivable | ||
Dividend receivable | 25,353,722.11 | 25,353,722.11 |
Inventory | 1,963,953,478.82 | 1,568,373,133.15 |
Other current assets | 103,328,694.41 | 121,711,175.93 |
Total current assets | 4,917,900,397.80 | 3,962,200,380.44 |
Non-current assets: | ||
Long-term equity investment | 2,345,973,948.01 | 2,070,047,882.51 |
Other equity instrument investment | 12,921,702.93 | 5,760,839.23 |
Fixed assets | 2,450,650,945.78 | 2,023,113,939.02 |
Construction in progress | 365,457,368.84 | 240,012,874.86 |
Biological assets | 202,574,066.97 | 94,826,312.88 |
Intangible assets | 261,458,254.62 | 245,564,167.39 |
Goodwill | 290,425.67 | 290,425.67 |
Long-term prepaid expenses | 107,317,432.92 | 134,504,217.80 |
Deferred income tax assets | 45,858,858.54 | 35,987,736.49 |
Other non-current assets | 540,392,843.78 | 337,463,267.56 |
Total non-current assets | 6,332,895,848.06 | 5,187,571,663.41 |
Total assets | 11,250,796,245.86 | 9,149,772,043.85 |
Current liabilities: | ||
Short-term borrowings | 1,328,220,741.20 | 1,050,878,205.81 |
Notes payable | 4,000,000.00 | |
Accounts payable | 1,040,155,759.62 | 659,216,483.84 |
Advance receipt | 209,529,248.68 | |
Contract liability | 278,529,809.01 | |
Payroll | 67,340,581.71 | 62,549,364.12 |
Tax payable | 51,093,283.66 | 37,680,953.84 |
Other payables | 400,308,867.39 | 342,239,361.28 |
including: Interest payable | 1,302,186.81 | 1,528,201.39 |
Dividend payable | 1,434,027.14 | |
Non-current liabilities due within one year | 95,228,089.23 | 70,593,717.62 |
Total current liabilities | 3,264,877,131.82 | 2,432,687,335.19 |
Non-current liabilities: | ||
Long-term borrowings | 352,830,000.00 | 174,330,000.00 |
Long-term payable | 49,398,235.14 | 11,025,000.09 |
Deferred income | 36,857,599.70 | 31,841,250.00 |
Deferred income tax liabilities | 813,350.90 | 396,995.58 |
Total non-current liabilities | 439,899,185.74 | 217,593,245.67 |
Total liabilities | 3,704,776,317.56 | 2,650,280,580.86 |
Owners' equity (or shareholders' equity): | ||
Paid-up capital (or share capital) | 922,059,896.00 | 922,304,396.00 |
Capital reserve | 885,831,628.52 | 882,723,066.29 |
deduct: Treasury stock | 45,695,815.00 | 70,688,750.00 |
Other comprehensive income | 818,205.15 | 6,122,835.30 |
Surplus reserves | 352,059,456.90 | 352,059,456.90 |
Undistributed profits | 4,330,927,069.24 | 3,605,618,553.05 |
Total owners’ equity attributable to the parent company | 6,446,000,440.81 | 5,698,139,557.54 |
Non-controlling interests | 1,100,019,487.49 | 801,351,905.45 |
Total owners' equity (or shareholders' equity) | 7,546,019,928.30 | 6,499,491,462.99 |
Total liabilities and owners' equity (or shareholders' equity) | 11,250,796,245.86 | 9,149,772,043.85 |
Balance Sheet of Parent Company
September 30, 2020CNY
Item | September 30, 2020 | December 31, 2019 |
Current assets: | ||
Monetary capital | 835,412,522.74 | 1,039,575,222.99 |
Trading financial assets | 100,000,000.00 | 40,000,000.00 |
Derivative financial assets | 7,085,109.00 | 2,285,934.30 |
Accounts receivable | 25,846,580.93 | 13,631,690.45 |
Prepayments | 696,831.52 | 7,560,408.95 |
Other receivables | 1,799,863,952.01 | 1,020,785,676.46 |
including: Interest receivable | ||
Dividend receivable | 33,977,209.35 | 33,977,209.35 |
Inventory | 48,059,153.41 | 49,839,754.57 |
Total current assets | 2,816,964,149.61 | 2,173,678,687.72 |
Non-current assets: | ||
Long-term equity investment | 4,782,980,270.42 | 4,117,315,830.10 |
Other equity instrument investment | 12,651,707.44 | 5,539,369.92 |
Fixed assets | 136,469,902.39 | 132,106,337.38 |
Construction in progress | 5,084,073.40 | 5,163,075.76 |
Intangible assets | 14,774,093.89 | 15,425,425.33 |
Long-term prepaid expenses | 1,985,771.79 | 797,929.30 |
Deferred income tax assets | 11,593,454.62 | 10,699,738.59 |
Total non-current assets | 4,965,539,273.95 | 4,287,047,706.38 |
Total assets | 7,782,503,423.56 | 6,460,726,394.10 |
Current liabilities: | ||
Short-term borrowings | 830,000,000.00 | 770,000,000.00 |
Accounts payable | 63,298,221.15 | 34,960,859.00 |
Advance receipt | 5,019,752.33 |
Contract liability | 2,482,008.64 | |
Payroll | 2,836,563.20 | 4,611,910.56 |
Tax payable | 6,617,372.23 | 4,624,045.02 |
Other payables | 1,904,344,767.83 | 1,109,464,926.75 |
including: Interest payable | 1,191,006.25 | 1,261,159.72 |
Dividend payable | ||
Non-current liabilities due within one year | 74,500,000.00 | 52,000,000.00 |
Total current liabilities | 2,884,078,933.05 | 1,980,681,493.66 |
Non-current liabilities: | ||
Long-term borrowings | 332,500,000.00 | 174,000,000.00 |
Deferred income | 21,227,372.00 | 21,520,000.00 |
Deferred income tax liabilities | 8,972.25 | |
Total non-current liabilities | 353,727,372.00 | 195,528,972.25 |
Total liabilities | 3,237,806,305.05 | 2,176,210,465.91 |
Owners' equity (or shareholders' equity): | ||
Paid-up capital (or share capital) | 922,059,896.00 | 922,304,396.00 |
Capital reserves | 882,850,728.55 | 875,861,339.55 |
deduct: Treasury stock | 45,695,815.00 | 70,688,750.00 |
Other comprehensive income | 2,121,811.54 | 5,621,991.32 |
Surplus reserves | 352,059,456.90 | 352,059,456.90 |
Undistributed profits | 2,431,301,040.52 | 2,199,357,494.42 |
Total owners' equity (or shareholders' equity) | 4,544,697,118.51 | 4,284,515,928.19 |
Total liabilities and owners' equity (or shareholders' equity) | 7,782,503,423.56 | 6,460,726,394.10 |
Consolidated Income StatementJanuary-September, 2020Liaoning Wellhope CNY
Item | July-September, 2020 | July-September, 2019 | January-September, 2020 | January-September, 2019 |
1. Total operating revenue | 7,009,559,518.56 | 5,015,825,872.21 | 16,857,939,370.84 | 12,743,225,876.96 |
including: Operating revenue | 7,009,559,518.56 | 5,015,825,872.21 | 16,857,939,370.84 | 12,743,225,876.96 |
2. Total operating costs | 6,710,232,737.78 | 4,690,833,834.78 | 15,939,503,361.92 | 12,126,002,964.90 |
including: Operating costs | 6,447,814,918.45 | 4,433,516,820.01 | 15,254,503,331.16 | 11,419,337,434.95 |
Taxes and surtaxes | 8,210,090.54 | 6,525,828.70 | 22,030,685.72 | 19,224,556.04 |
Selling expenses | 134,032,493.04 | 149,408,169.31 | 346,702,203.66 | 389,398,894.38 |
Administrative expenses | 81,343,573.39 | 64,201,377.00 | 215,425,199.99 | 191,117,342.17 |
R&D expenses | 21,444,562.90 | 17,202,763.02 | 52,389,481.21 | 47,224,108.89 |
Financial expenses | 17,387,099.46 | 19,978,876.74 | 48,452,460.18 | 59,700,628.47 |
including: Interest expenses | 18,446,341.53 | 19,456,681.91 | 56,352,179.63 | 59,668,390.61 |
Interest income | 5,067,576.63 | 3,115,573.29 | 13,519,245.61 | 5,756,801.45 |
add: Other income | 5,364,573.63 | 2,196,465.64 | 11,307,173.33 | 4,389,415.74 |
Income from investment | 114,996,701.40 | 158,004,862.27 | 287,586,452.44 | 346,071,893.42 |
including: Income from investments in associated companies and joint ventures | 112,070,338.40 | 151,912,887.19 | 283,370,112.74 | 338,108,829.04 |
Gain or loss from changes in fair value | -2,397,575.00 | -705,710.00 | -3,663,014.00 | -874,910.00 |
Credit impairment loss | -20,807,051.35 | -9,144,048.97 | -44,982,365.28 | -27,678,451.02 |
Assets impairment loss | -5,655,601.99 | -5,140,167.72 | -17,267,757.41 | -5,409,240.15 |
Gain or loss from assets disposal | 440,418.53 | -520,708.86 | 1,987,707.93 | -566,068.09 |
3. Operating profit | 391,268,246.00 | 469,682,729.79 | 1,153,404,205.93 | 933,155,551.96 |
add: Non-operating income | 3,134,298.57 | 2,484,261.96 | 11,539,843.27 | 18,299,191.94 |
deduct: Non-operating expenditure | 4,848,405.61 | 2,590,380.06 | 13,645,780.19 | 20,913,066.65 |
4. Pretax profit | 389,554,138.96 | 469,576,611.69 | 1,151,298,269.01 | 930,541,677.25 |
deduct: Income tax expenses | 32,874,941.67 | 34,337,932.36 | 113,292,732.82 | 65,556,455.05 |
5. Net profit | 356,679,197.29 | 435,238,679.33 | 1,038,005,536.19 | 864,985,222.20 |
Net profit from continuing operations | 356,679,197.29 | 435,238,679.33 | 1,038,005,536.19 | 864,985,222.20 |
A. Net profit attributable to the shareholders of parent company | 322,168,482.30 | 354,079,351.53 | 928,184,218.31 | 713,087,990.71 |
B. Non-controlling interests income | 34,510,714.99 | 81,159,327.80 | 109,821,317.88 | 151,897,231.49 |
6. Other comprehensive income, net of tax | -8,770,987.84 | 5,964,430.88 | -6,829,827.89 | 10,626,389.70 |
Attributable to owners of parent company | -7,889,082.75 | 5,874,088.31 | -5,304,630.15 | 9,819,172.88 |
A. Other comprehensive income that can’t be reclassified into gains or losses | 69,802.46 | 1,221,140.18 | ||
a. Other comprehensive income that can’t be recorded into gains or losses under the equity method | 67,457.78 | 67,457.78 | ||
b. Changes in the fair value of other equity instrument investment | 2,344.68 | 1,153,682.40 | ||
B. Other comprehensive | -7,958,885.21 | 5,874,088.31 | -6,525,770.33 | 9,819,172.88 |
income that will be reclassified into gains or losses | ||||
a. Other comprehensive income that can be recorded into gains or losses under the equity method | -6,877,676.38 | 5,763,669.61 | -4,612,517.30 | 8,832,574.54 |
b. Exchange differences on translation of foreign currency financial statements | -1,081,208.83 | 110,418.70 | -1,913,253.03 | 986,598.34 |
Attributable to non-controlling interests | -881,905.09 | 90,342.57 | -1,525,197.74 | 807,216.82 |
7. Total comprehensive income | 347,908,209.45 | 441,203,110.21 | 1,031,175,708.30 | 875,611,611.90 |
Attributable to the owners of parent company | 314,279,399.55 | 359,953,439.84 | 922,879,588.16 | 722,907,163.59 |
Attributable to non-controlling interests | 33,628,809.90 | 81,249,670.37 | 108,296,120.14 | 152,704,448.31 |
8. EPS | ||||
A. Basic earnings per share (CNY per share) | 0.35 | 0.39 | 1.01 | 0.80 |
B. Diluted earnings per share (CNY per share) | 0.35 | 0.39 | 1.01 | 0.80 |
Income Statement of Parent Company
January-September, 2020
CNY
Item | July-September, 2020 | July-September, 2019 | January-September, 2020 | January-September, 2019 |
1. Total operating revenue | 307,880,743.41 | 196,512,399.27 | 711,084,996.93 | 458,252,021.02 |
deduct: Operating costs | 208,352,507.96 | 131,084,785.29 | 492,568,655.06 | 305,136,741.09 |
Taxes and surtaxes | 327,434.93 | 367,562.19 | 1,056,489.44 | 1,180,372.80 |
Selling expenses | 3,441,372.98 | 3,050,709.07 | 10,448,389.89 | 10,301,948.92 |
Administrative expenses | 9,003,701.59 | 8,319,467.74 | 22,715,569.58 | 24,824,924.67 |
R&D expenses | 8,681,135.78 | 4,946,284.85 | 17,889,490.25 | 15,250,620.64 |
Financial expenses | 4,693,326.60 | 6,015,985.79 | 14,331,828.36 | 20,980,959.39 |
including: Interest expenses | 13,870,026.43 | 14,418,872.89 | 41,388,041.31 | 43,531,437.16 |
Interest income | 9,193,319.27 | 8,416,479.52 | 27,251,034.62 | 22,709,313.34 |
add: Other income | 1,670,876.00 | 1,225,625.00 | 4,844,003.63 | 1,349,375.00 |
Income from investment | 112,130,803.26 | 174,957,553.38 | 303,158,960.93 | 377,677,888.29 |
including: Income from investments in associated companies and joint ventures | 108,589,240.10 | 152,387,386.72 | 273,466,826.96 | 338,066,397.52 |
Gain or loss from changes in fair value | -2,362,535.00 | -135,780.00 | -3,620,330.00 | 631,000.00 |
Credit impairment loss | 402,360.53 | 2,992,205.06 | -1,218,247.01 | -390,164.84 |
Assets impairment loss | ||||
Gain or loss from assets disposal | 43,672.89 | 8,921.74 | 43,672.89 | -22,077.70 |
2. Operating profit | 185,266,441.25 | 221,776,129.52 | 455,282,634.79 | 459,822,474.26 |
add: Non-operating income | 150,000.00 | 1,070.00 | 171,550.00 | 10,629,590.00 |
deduct: Non-operating expenditure | 61,262.62 | 15,000.00 | 960,821.13 | 1,341,100.00 |
3. Pretax profit | 185,355,178.63 | 221,762,199.52 | 454,493,363.66 | 469,110,964.26 |
deduct: Income tax expenses | 9,032,240.70 | 6,886,203.87 | 19,740,650.44 | 11,221,850.01 |
4. Net profit | 176,322,937.93 | 214,875,995.65 | 434,752,713.22 | 457,889,114.25 |
Net profit from continuing operations | 176,322,937.93 | 214,875,995.65 | 434,752,713.22 | 457,889,114.25 |
5. Other comprehensive income, net of tax | -6,877,676.38 | 5,763,669.61 | -3,500,179.78 | 8,832,574.54 |
A. Other comprehensive income that can’t be reclassified into gains or losses | ||||
B. Other comprehensive income that will be reclassified into gains or losses | -6,877,676.38 | 5,763,669.61 | -3,500,179.78 | 8,832,574.54 |
a. Other comprehensive income that can be recorded into gains or losses under the equity method | -6,877,676.38 | 5,763,669.61 | -3,500,179.78 | 8,832,574.54 |
6. Total comprehensive income | 169,445,261.55 | 220,639,665.26 | 431,252,533.44 | 466,721,688.79 |
Consolidated Statement of Cash Flow
January-September, 2020Liaoning Wellhope CNY
Item | January-September, 2020 | January-September, 2019 |
1. Cash flow from operating activities | ||
Cash received from selling commodities, providing labor services | 17,201,538,383.47 | 12,867,947,661.38 |
Tax refunds | 18,807,217.30 | 20,422,787.11 |
Cash received from other activities related to operating | 58,321,428.74 | 56,208,041.93 |
Sub-total of cash inflow of operating activities | 17,278,667,029.51 | 12,944,578,490.42 |
Cash paid for purchasing commodities and receiving labor services | 15,681,645,713.87 | 11,276,295,939.90 |
Cash paid to and for employee | 559,526,780.39 | 471,606,862.89 |
Tax payments | 153,058,615.66 | 94,435,382.11 |
Cash paid for other activities related to operating | 601,630,205.86 | 519,328,751.90 |
Sub-total of cash outflow of operating activities | 16,995,861,315.78 | 12,361,666,936.80 |
Net cash flow from operating activities | 282,805,713.73 | 582,911,553.62 |
2. Cash flow from investing activities | ||
Cash received from disinvestment | 300,000,000.00 | 1,050,000.00 |
Cash received from return on investment | 67,736,909.25 | 22,103,112.29 |
Net cash received from disposal of fixed assets, intangible assets and other long-lived assets | 3,009,190.61 | 1,267,093.00 |
Net cash received from disposal of subsidiaries and other business units | 194,529.44 | |
Cash received from other activities related to investment | 30,810,713.98 | 2,377,932.15 |
Sub-total of cash inflow of investing activities | 401,556,813.84 | 26,992,666.88 |
Cash paid for acquiring and building fixed assets, intangible assets and other long-lived assets | 699,428,222.05 | 384,826,859.83 |
Cash paid for investments | 504,891,211.00 | 42,134,198.47 |
Net cash paid for acquiring subsidiaries and other business units | 60,872,999.20 | 113,573,868.96 |
Cash paid for other activities related to investment | 36,208,141.97 | |
Sub-total of cash outflow of investing activities | 1,265,192,432.25 | 576,743,069.23 |
Net cash flow from investing activities | -863,635,618.41 | -549,750,402.35 |
3. Cash flow from financing activities | ||
Cash received from absorbing investments | 147,070,000.00 | 850,192,738.50 |
including: Capital contributed by non-controlling interests to subsidiaries | 147,070,000.00 | 80,415,000.00 |
Cash received from borrowings | 1,902,929,477.57 | 1,204,498,455.68 |
Cash received from other activities related to financing | 640,000.00 | |
Sub-total of cash inflow of financing activities | 2,049,999,477.57 | 2,055,331,194.18 |
Repayments of borrowings | 1,383,904,257.25 | 1,205,540,041.67 |
Cash paid for dividend, profit, or paid for interest | 278,602,342.79 | 227,218,147.63 |
including: Dividend or profit paid by subsidiaries to non-controlling interests | 25,463,213.00 | 4,420,306.88 |
Cash paid for other activities related to financing | 1,185,825.00 | 6,433,985.36 |
Sub-total of cash outflow of financing activities | 1,663,692,425.04 | 1,439,192,174.66 |
Net cash flow from financing activities | 386,307,052.53 | 616,139,019.52 |
4. Effect of foreign exchange rate fluctuations on cash and cash equivalents | -677,209.44 | -3,773,741.25 |
5. Net increase in cash and cash equivalents | -195,200,061.59 | 645,526,429.54 |
add: Opening balance of cash and cash equivalents | 1,508,390,481.68 | 889,204,873.97 |
6. Closing balance of cash and cash equivalents | 1,313,190,420.09 | 1,534,731,303.51 |
Cash Flow Statement of Parent Company
January-September, 2020CNY
Item | January-September, 2020 | January-September, 2019 |
1. Cash flow from operating activities | ||
Cash received from selling commodities, providing labor services | 695,162,478.63 | 436,047,078.54 |
Cash received from other activities related to operating | 135,113,810.43 | 245,362,412.47 |
Sub-total of cash inflow of operating activities | 830,276,289.06 | 681,409,491.01 |
Cash paid for purchasing commodities and receiving labor services | 458,232,248.79 | 263,010,743.82 |
Cash paid to and for employee | 25,710,430.67 | 21,895,620.99 |
Tax payments | 24,172,101.25 | 15,974,070.95 |
Cash paid for other activities related to operating | 52,009,974.97 | 401,130,039.95 |
Sub-total of cash outflow of operating activities | 560,124,755.68 | 702,010,475.71 |
Net cash flow from operating activities | 270,151,533.38 | -20,600,984.70 |
2. Cash flow from investing activities | ||
Cash received from disinvestment | 300,795,071.85 | 1,050,000.00 |
Cash received from return on investment | 95,635,934.02 | 52,466,504.29 |
Net cash received from disposal of fixed assets, intangible assets and other long-lived assets | 60,000.00 | 34,000.00 |
Net cash received from disposal of subsidiaries and other business units | 4,000,001.00 | |
Cash received from other activities related to investment | 6,845,976.60 | |
Sub-total of cash inflow of investing activities | 403,336,982.47 | 57,550,505.29 |
Cash paid for acquiring and building fixed assets, intangible assets and other long-lived assets | 11,460,664.72 | 9,465,370.42 |
Cash paid for investments | 873,471,211.00 | 127,573,378.79 |
Net cash paid for acquiring subsidiaries and other business units | 8,543,248.66 | |
Cash paid for other activities related to investment | 262,287,414.00 | 3,010,000.00 |
Sub-total of cash outflow of investing activities | 1,155,762,538.38 | 140,048,749.21 |
Net cash flow from investing activities | -752,425,555.91 | -82,498,243.92 |
3. Cash flow from financing activities | ||
Cash received from absorbing investments | 769,777,738.50 | |
Cash received from borrowings | 1,180,000,000.00 | 770,000,000.00 |
Cash received from other activities related to financing | 284,946,413.32 | |
Sub-total of cash inflow of financing activities | 1,464,946,413.32 | 1,539,777,738.50 |
Repayments of borrowings | 939,000,000.00 | 837,000,000.00 |
Cash paid for dividend, profit, or paid for interest | 239,803,360.48 | 209,835,858.30 |
Cash paid for other activities related to financing | 1,185,825.00 | |
Sub-total of cash outflow of financing activities | 1,179,989,185.48 | 1,046,835,858.30 |
Net cash flow from financing activities | 284,957,227.84 | 492,941,880.20 |
4. Effect of foreign exchange rate fluctuations on cash and cash equivalents | 71.04 | 157.39 |
5. Net increase in cash and cash equivalents | -197,316,723.65 | 389,842,808.97 |
add: Opening balance of cash and cash equivalents | 1,023,685,161.19 | 740,891,873.25 |
6. Closing balance of cash and cash equivalents | 826,368,437.54 | 1,130,734,682.22 |
III. Implementing the New Income Standards and Leasing Standards as of the Beginningof 2020, the Adjustment of some Items in the Financial Statements
Consolidated Balance Sheet
CNY
Item | December 31, 2019 | January 1, 2020 | Adjustment |
Current assets: | |||
Monetary capital | 1,554,781,324.13 | 1,554,781,324.13 | |
Trading financial assets | 40,000,000.00 | 40,000,000.00 | |
Derivative financial assets | 3,912,584.30 | 3,912,584.30 | |
Notes receivable | 3,696,180.25 | 3,696,180.25 | |
Accounts receivable | 362,060,802.38 | 362,060,802.38 | |
Prepayments | 222,064,368.55 | 222,064,368.55 | |
Other receivables | 85,600,811.75 | 85,600,811.75 | |
including: Interest receivable | |||
Dividend receivable | 25,353,722.11 | 25,353,722.11 | |
Inventory | 1,568,373,133.15 | 1,568,373,133.15 | |
Other current assets | 121,711,175.93 | 121,711,175.93 | |
Total current assets | 3,962,200,380.44 | 3,962,200,380.44 | |
Non-current assets: | |||
Long-term equity investment | 2,070,047,882.51 | 2,070,047,882.51 | |
Other equity instrument investment | 5,760,839.23 | 5,760,839.23 | |
Fixed assets | 2,023,113,939.02 | 2,023,113,939.02 | |
Construction in progress | 240,012,874.86 | 240,012,874.86 | |
Biological assets | 94,826,312.88 | 94,826,312.88 | |
Intangible assets | 245,564,167.39 | 245,564,167.39 | |
Goodwill | 290,425.67 | 290,425.67 | |
Long-term prepaid expenses | 134,504,217.80 | 134,504,217.80 | |
Deferred income tax assets | 35,987,736.49 | 35,987,736.49 | |
Other non-current assets | 337,463,267.56 | 337,463,267.56 | |
Total non-current assets | 5,187,571,663.41 | 5,187,571,663.41 | |
Total assets | 9,149,772,043.85 | 9,149,772,043.85 | |
Current liabilities: | |||
Short-term borrowings | 1,050,878,205.81 | 1,050,878,205.81 | |
Accounts payable | 659,216,483.84 | 659,216,483.84 | |
Advance receipt | 209,529,248.68 | -209,529,248.68 | |
Contract liability | 209,529,248.68 | 209,529,248.68 | |
Payroll | 62,549,364.12 | 62,549,364.12 |
Tax payable | 37,680,953.84 | 37,680,953.84 | |
Other payables | 342,239,361.28 | 342,239,361.28 | |
including: Interest payable | 1,528,201.39 | 1,528,201.39 | |
Dividend payable | 1,434,027.14 | 1,434,027.14 | |
Non-current liabilities due within one year | 70,593,717.62 | 70,593,717.62 | |
Other current liability | |||
Total current liabilities | 2,432,687,335.19 | 2,432,687,335.19 | |
Non-current liabilities: | |||
Long-term borrowings | 174,330,000.00 | 174,330,000.00 | |
Long-term payables | 11,025,000.09 | 11,025,000.09 | |
Deferred income | 31,841,250.00 | 31,841,250.00 | |
Deferred income tax liabilities | 396,995.58 | 396,995.58 | |
Total non-current liabilities | 217,593,245.67 | 217,593,245.67 | |
Total liabilities | 2,650,280,580.86 | 2,650,280,580.86 | |
Owners' equity (or shareholders' equity): | |||
Paid-up capital (or share capital) | 922,304,396.00 | 922,304,396.00 | |
Capital reserve | 882,723,066.29 | 882,723,066.29 | |
deduct: Treasury stock | 70,688,750.00 | 70,688,750.00 | |
Other comprehensive income | 6,122,835.30 | 6,122,835.30 | |
Surplus reserves | 352,059,456.90 | 352,059,456.90 | |
Undistributed profits | 3,605,618,553.05 | 3,605,618,553.05 | |
Total owners’ equity attributable to the parent company | 5,698,139,557.54 | 5,698,139,557.54 | |
Non-controlling interests | 801,351,905.45 | 801,351,905.45 | |
Total owners' equity (or shareholders' equity) | 6,499,491,462.99 | 6,499,491,462.99 | |
Total liabilities and owners' equity (or shareholders' equity) | 9,149,772,043.85 | 9,149,772,043.85 |
Balance Sheet of Parent Company
CNY
Item | December 31, 2019 | January 1, 2020 | Adjustment |
Current assets: | |||
Monetary capital | 1,039,575,222.99 | 1,039,575,222.99 | |
Trading financial assets | 40,000,000.00 | 40,000,000.00 | |
Derivative financial assets | 2,285,934.30 | 2,285,934.30 | |
Accounts receivable | 13,631,690.45 | 13,631,690.45 | |
Prepayments | 7,560,408.95 | 7,560,408.95 | |
Other receivables | 1,020,785,676.46 | 1,020,785,676.46 | |
including: Interest receivable | |||
Dividend receivable | 33,977,209.35 | 33,977,209.35 | |
Inventory | 49,839,754.57 | 49,839,754.57 | |
Total current assets | 2,173,678,687.72 | 2,173,678,687.72 | |
Non-current assets: | |||
Long-term equity investment | 4,117,315,830.10 | 4,117,315,830.10 | |
Other equity instrument investment | 5,539,369.92 | 5,539,369.92 | |
Fixed assets | 132,106,337.38 | 132,106,337.38 | |
Construction in progress | 5,163,075.76 | 5,163,075.76 | |
Intangible assets | 15,425,425.33 | 15,425,425.33 | |
Long-term prepaid expenses | 797,929.30 | 797,929.30 | |
Deferred income tax assets | 10,699,738.59 | 10,699,738.59 | |
Total non-current assets | 4,287,047,706.38 | 4,287,047,706.38 | |
Total assets | 6,460,726,394.10 | 6,460,726,394.10 | |
Current liabilities: | |||
Short-term borrowings | 770,000,000.00 | 770,000,000.00 | |
Accounts payable | 34,960,859.00 | 34,960,859.00 | |
Advance receipt | 5,019,752.33 | -5,019,752.33 | |
Contract liability | 5,019,752.33 | 5,019,752.33 | |
Payroll | 4,611,910.56 | 4,611,910.56 | |
Tax payable | 4,624,045.02 | 4,624,045.02 | |
Other payables | 1,109,464,926.75 | 1,109,464,926.75 | |
including: Interest payable | 1,261,159.72 | 1,261,159.72 | |
Dividend payable | |||
Non-current liabilities due within one year | 52,000,000.00 | 52,000,000.00 | |
Other current liability | |||
Total current liabilities | 1,980,681,493.66 | 1,980,681,493.66 | |
Non-current liabilities: | |||
Long-term borrowings | 174,000,000.00 | 174,000,000.00 |
Deferred income | 21,520,000.00 | 21,520,000.00 | |
Deferred income tax liabilities | 8,972.25 | 8,972.25 | |
Total non-current liabilities | 195,528,972.25 | 195,528,972.25 | |
Total liabilities | 2,176,210,465.91 | 2,176,210,465.91 | |
Owners' equity (or shareholders' equity): | |||
Paid-up capital (or share capital) | 922,304,396.00 | 922,304,396.00 | |
Capital reserve | 875,861,339.55 | 875,861,339.55 | |
deduct: Treasury stock | 70,688,750.00 | 70,688,750.00 | |
Other comprehensive income | 5,621,991.32 | 5,621,991.32 | |
Surplus reserves | 352,059,456.90 | 352,059,456.90 | |
Undistributed profits | 2,199,357,494.42 | 2,199,357,494.42 | |
Total owners' equity (or shareholders' equity) | 4,284,515,928.19 | 4,284,515,928.19 | |
Total liabilities and owners' equity (or shareholders' equity) | 6,460,726,394.10 | 6,460,726,394.10 |