Guangdong Dongfang Precision Science&Technology Co.,Ltd.
Q1 2021 Report
April 2021
Part I Important NotesThe Board of Directors (or the “Board”), the Supervisory Committee as well as thedirectors, supervisors and senior management of Guangdong Dongfang Precision Science &Technology Co., Ltd. (hereinafter referred to as the “Company”) hereby guarantee that thecontents of this Report are true, accurate and complete and free of any misrepresentations,misleading statements or material omissions, and collectively and individually accept legalresponsibility for such contents.All the directors of the Company attended in person the board meeting for the approvalof this Report.
Tang Zhuolin, the Company’s legal representative, Shao Yongfeng, the Company’s ChiefFinancial Officer, and Yao Bin, the Head of the Company’s Accounting Department(equivalent to Financial Manager) hereby guarantee that the financial statements carried inthis Report are truthful, accurate and complete.
This Report has been prepared in Chinese and translated into English. Should there beany discrepancies or misunderstandings between the two versions, the Chinese version shallprevail.
Part II Basic Information
I Key Financial InformationIndicate whether there is any retrospectively restated datum in the table below.
□ Yes √ No
| Q1 2021 | Q1 2020 | Change(%) | |
| Operating revenue (RMB) | 636,432,223.23 | 618,374,944.67 | 2.92% |
| Net profit attributable to the listed company’s shareholders (RMB) | 64,628,103.90 | 47,491,377.77 | 36.08% |
| Net profit attributable to the listed company’s shareholders before exceptional gains and losses (RMB) | 51,969,185.59 | 25,666,651.19 | 102.48% |
| Net cash generated from/used in operating activities (RMB) | 57,536,376.72 | -85,471,622.64 | 167.32% |
| Basic earnings per share (RMB/share) | 0.04 | 0.03 | 33.33% |
| Diluted earnings per share (RMB/share) | 0.04 | 0.03 | 33.33% |
| Weighted average return on equity (%) | 1.56% | 1.09% | 0.47% |
| 31 March 2021 | 31 December 2020 | Change(%) | |
| Total assets (RMB) | 6,428,626,466.86 | 6,323,236,687.05 | 1.67% |
| Equity attributable to the listed company’s shareholders (RMB) | 4,120,726,030.14 | 4,158,538,499.75 | -0.91% |
Exceptional Gains and Losses
√ Applicable □ Not applicable
Unit: RMB
| Item | Q1 2021 | Note |
| Gain or loss on disposal of non-current assets (inclusive of impairment allowance write-offs) | 275,491.34 | |
| Government grants through profit or loss (exclusive of government grants given in the Company’s ordinary course of business at fixed quotas or amounts as per the government’s uniform standards) | 2,287,586.88 | |
| Gain or loss on fair-value changes on held-for-trading and derivative financial assets and liabilities & income from disposal of held-for-trading and derivative financial assets and liabilities and other debt investments (exclusive of the effective portion of | 12,188,114.89 |
| hedges that arise in the Company’s ordinary course of business) | ||
| Non-Operating Revenue and expenses other than the above | 465,836.61 | |
| Less: Income tax effects | 2,342,026.64 | |
| Non-controlling interests effects (net of tax) | 216,084.77 | |
| Total | 12,658,918.31 | -- |
Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item defined or listed in the ExplanatoryAnnouncement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Gain/LossItems:
□ Applicable √ Not applicable
No such cases for the Reporting Period.II Total Number of Shareholders and Information of Top 10 Shareholders
1. Total Number of Ordinary Shareholders and Number of Preference Shareholders with Resumed VotingRights, as well as Information of Top 10 Shareholders
Unit: shares
| Number of ordinary shareholders at the period-end | 39,077 | Number of preference shareholders with resumed voting rights at the period-end (if any) | 0 | |||
| Top 10 shareholders | ||||||
| Name of shareholder | Nature of shareholder | Shareholding percentage | Total shares held at the period-end | Restricted shares held | Shares in pledge or frozen | |
| Status | Shares | |||||
| Tang Zhuolin | Domestic individual | 17.53% | 270,737,568 | 203,053,176 | In pledge | 187,000,000 |
| Tang Zhuomian | Domestic individual | 8.80% | 135,885,134 | 0 | ||
| Pulead Technology Industry Co., Ltd. | State-owned corporation | 3.98% | 61,454,378 | 0 | ||
| Beijing Automotive Group Industry Investment Co., Ltd. | State-owned corporation | 3.14% | 48,511,689 | 0 | ||
| Contemporary Amperex Technology Co., | Domestic non-state-owned corporation | 3.01% | 46,490,368 | 0 | ||
| Ltd. | ||||||
| Ruan Huili | Domestic individual | 2.82% | 43,500,000 | 0 | ||
| JIC Investment Co., Ltd. | State-owned corporation | 2.54% | 39,215,685 | 0 | ||
| Luzhou Industrial Investment Group Co., Ltd. | State-owned corporation | 2.06% | 31,770,010 | 0 | ||
| Huarong Securities－China Merchants Securities－Huarong Youzhi Collective Asset Management Plan No. 1 | Other | 2.03% | 31,372,549 | 0 | ||
| Qiu Yezhi | Domestic individual | 2.02% | 31,176,518 | 23,382,388 | ||
| Top 10 unrestricted shareholders | ||||||
| Name of shareholder | Unrestricted shares held at the period-end | Shares by type | ||||
| Type | Shares | |||||
| Tang Zhuomian | 135,885,134 | RMB-denominated ordinary stock | 135,885,134 | |||
| Tang Zhuolin | 67,684,392 | RMB-denominated ordinary stock | 67,684,392 | |||
| Pulead Technology Industry Co., Ltd. | 61,454,378 | RMB-denominated ordinary stock | 61,454,378 | |||
| Beijing Automotive Group Industry Investment Co., Ltd. | 48,511,689 | RMB-denominated ordinary stock | 48,511,689 | |||
| Contemporary Amperex Technology Co., Ltd. | 46,490,368 | RMB-denominated ordinary stock | 46,490,368 | |||
| Ruan Huili | 43,500,000 | RMB-denominated ordinary stock | 43,500,000 | |||
| JIC Investment Co., Ltd. | 39,215,685 | RMB-denominated ordinary stock | 39,215,685 | |||
| Luzhou Industrial Investment Group Co., Ltd. | 31,770,010 | RMB-denominated ordinary stock | 31,770,010 | |||
| Huarong Securities－China Merchants Securities－Huarong | 31,372,549 | RMB-denominated ordinary stock | 31,372,549 | |||
| Youzhi Collective Asset Management Plan No. 1 | |||
| Qinghai Puren Intelligent Technology R & D Center (Limited Partnership) | 26,628,340 | RMB-denominated ordinary stock | 26,628,340 |
| Related or acting-in-concert parties among the shareholders above | Mr. Tang Zhuolin and Mr. Tang Zhuomian are brothers. On 18 August 2010, they signed the Agreement on Acting in Concert. Pulead Technology Industry Co., Ltd. and Qinghai Puren Intelligent Technology R & D Center (Limited Partnership) are acting-in-concert parties. Apart from that, the Company is not aware of any related or acting-in-concert parties among the other shareholders above. | ||
| Top 10 ordinary shareholders involved in securities margin trading (if any) | As of 31 March 2021, Pulead Technology Industry Co., Ltd. held 61,454,256 shares in the Company in its client account of collateral securities for margin trading in China Securities Co., Ltd.; and Luzhou Industrial Investment Group Co., Ltd. held 31,770,010 shares in the Company in its client account of collateral securities for margin trading in Guotai Junan Securities Co., Ltd.; and Qinghai Puren Intelligent Technology R & D Center (Limited Partnership) held 26,628,300 shares in the Company in its client account of collateral securities for margin trading in China Securities Co., Ltd.; | ||
Indicate whether any of the top 10 ordinary shareholders or the top 10 unrestricted ordinary shareholders of the Company conductedany promissory repo during the Reporting Period.
□ Yes √ No
No such cases in the Reporting Period.
2. Total Number of Preference Shareholders and Information of Top 10 Preference Shareholders
□ Applicable √ Not applicable
Part III Significant EventsI Changes in Key Financial Data and Indicators and the Reasons
√Applicable □ Not applicable
Unit: RMB
1. Balance sheet items
| Items | 31 March 2021 | 31 December 2020 | Change amount | Change(%) | Notes |
| Cash and bank balances | 1,326,498,727.17 | 885,711,053.88 | 440,787,673.29 | 49.77% | Mainly due to the transfer of some large certificates of deposit and the recovery of funds from wealth management products during the period. |
| Prepayments | 43,782,399.19 | 29,109,416.21 | 14,672,982.98 | 50.41% | Mainly due to an increase in purchases during the period. |
| Long-term receivables | 836,000.00 | 1,475,000.00 | -639,000.00 | -43.32% | Mainly due to the collection of long-term receivables due in the current period. |
| Other non-current assets | 673,638,747.48 | 936,540,047.40 | -262,901,299.92 | -28.07% | Mainly due to the transfer of some large certificates of deposit during the period. |
| Short-term borrowings | 225,833,831.08 | 39,533,281.84 | 186,300,549.24 | 471.25% | Mainly due to the repayment of some of the borrowings due during the period, as well as the addition of new short-term borrowings. |
| Current portion of non-current liabilities | 48,424,885.76 | 226,597,528.74 | -178,172,642.98 | -78.63% | Mainly due to the repayment of some of the borrowings due within one year during the period. |
| Other comprehensive income | 7,925,845.77 | 20,026,089.70 | -12,100,243.93 | -60.42% | Mainly due to changes in translation of foreign currency statements as a result of changes in exchange rates. |
| Contract liabilities | 460,417,805.17 | 362,792,713.35 | 97,625,091.82 | 26.91% | Mainly due to the increase in receipts from sales business during the period. |
2. Income statement items
| Items | Q1 2021 | Q1 2020 | Change amount | Change(%) | Notes |
| R&D expenses | 20,080,208.07 | 13,749,361.22 | 6,330,846.85 | 46.04% | Mainly due to the increased investment in research and development during the period. |
| Finance costs | -2,337,549.85 | 3,624,557.98 | -5,962,107.83 | -164.49% | Mainly due to the decrease in interest expenses on loans and exchange losses during the period. |
| Investment income | 37,814,460.29 | 21,624,480.68 | 16,189,979.61 | 74.87% | Mainly due to the securities investment during the period. |
| Gain/loss on changes in fair value | -14,286,064.93 | 1,514,846.98 | -15,800,911.91 | -1043.07% | Mainly due to the securities investment during the period. |
| Asset impairment loss | 960,740.25 | -1,594,314.49 | 2,555,054.74 | -160.26% | Mainly due to the reversal of inventory valuation loss during the period. |
3. Cash flow statement items
| Items | Q1 2021 | Q1 2020 | Change amount | Change(%) | Notes |
| Net cash generated from/used in operating activities | 57,536,376.72 | -85,471,622.64 | 143,007,999.36 | 167.32% | Mainly due to the increase in receipts from sales business during the period. |
| Net cash generated from/used in investing activities | 506,133,874.10 | 485,264,213.23 | 20,869,660.87 | 4.30% | No significant changes during the period. |
| Net cash generated from/used in financing activities | -110,000,975.49 | -92,031,901.83 | -17,969,073.66 | 19.52% | Mainly due to the share repurchase during the period. |
II Progress, Influence and Solutions with Regard to Significant Events
√Applicable □ Not applicable
1. The Completion of the Ownership Transfer of the Grant of Reserved Restricted Shares under the 2020 Restricted ShareIncentive PlanIn February 2021, the Company completed the ownership transfer of the 4,240,000 restricted shares to 18 awardees at RMB1.00/share,the listing date of which is 25 February 2021. For details, see the Announcement on the Completion of the Ownership Transfer of theGrant of Reserved Restricted Shares under the 2020 Restricted Share Incentive Plan disclosed by the Company on www.cninfo.com.cndated 26 February 2021.
2. The Completion of the Repurchase and Retirement of 900,000 Restricted Shares
On 14 January 2021, the Proposal on the Repurchase and Retirement of Certain Restricted Shares was approved at the FirstExtraordinary General Meeting of 2021. As two awardees resigned from the Company and were disqualified for the equity incentives,the Company decided to repurchase and retire the 900,000 restricted shares that had been granted to them but were still locked up. Therepurchase and retirement of these restricted shares was completed on 24 February 2021. For details, see the Announcement on theCompletion of the Repurchase and Retirement of Certain Restricted Shares disclosed by the Company on www.cninfo.com.cn dated 26February 2021.
| Overview | Disclosure Date | Website |
| Announcement on the Completion of the Ownership Transfer of the Grant of Reserved Restricted Shares under the 2020 Restricted Share Incentive Plan | 26 February 2021 | www.cninfo.com.cn |
| Announcement on the Completion of the Repurchase and Retirement of Certain Restricted Shares | 26 February 2021 | www.cninfo.com.cn |
Progress on any share repurchase:
√Applicable □ Not applicable
The 2020 share repurchase plan was approved at the 49
th (Extraordinary) Meeting of the 3
rd
Board of Directors and the ThirdExtraordinary General Meeting of 2020 on 24 June 2020 respectively. The Company used a total amount of no less than RMB500million (inclusive) and no more than RMB1,000 million (inclusive) to repurchase shares at prices of no more than RMB6.42/share.All the repurchased shares would be retired to reduce the registered capital. The implementation period was within 12 months as theshare repurchase plan was approved by the general meeting.As of 31 March 2021, a total of 127,215,648 shares (8.24% of the Company’s total share capital) were repurchased by way ofcentralized bidding, with a total payment of approximately RMB600 million (exclusive of transaction costs, highest transaction price:
RMB5.10/share; lowest transaction price: RMB3.88/share).
Progress on reducing the repurchased shares by way of centralized bidding:
□ Applicable √ Not applicable
III Undertakings of the Company’s Actual Controller, Shareholders, Related Parties andAcquirers, as well as the Company Itself and Other Entities Unfulfilled and Overdue at thePeriod-End
□ Applicable √ Not applicable
No such cases for the Reporting Period.
IV Financial Investments
1. Securities Investments
√ Applicable □ Not applicable
Unit: RMB
| Security type | Security code | Security name | Initial investment cost | Measurement method | Opening carrying amount | Gain/loss on fair-value changes in the period | Cumulative fair-value changes recognized in equity | Purchased in the period | Sold in the period | Gain/loss in the period | Closing carrying amount | Accounting title | Funding source |
| Domestically/ overseas listed stocks | - | - | Fair value | -16,593,060.20 | 365,940,859.79 | 174,070,668.27 | 11,071,762.12 | 175,277,131.32 | Financial assets held for trading | Self-funded | |||
| Trust products | - | - | 504,767,340.61 | Fair value | 504,767,340.61 | -68,493.14 | 6,164,385.85 | 504,698,847.47 | Financial assets held for trading | Self-funded | |||
| Funds | - | - | 619,890,000.00 | Fair value | 619,890,000.00 | 100,294.27 | 100,294.27 | 619,990,294.27 | Financial assets held for trading | Self-funded | |||
| Others | - | - | 511,639,089.70 | Fair value | 511,639,089.70 | -806,999.92 | 146,693,712.72 | 546,740,681.95 | 1,379,701.42 | 110,785,120.55 | Financial assets held for trading | Self-funded | |
| Total | 1,636,296,430.31 | -- | 1,636,296,430.31 | -17,368,258.99 | 0.00 | 512,634,572.51 | 720,811,350.22 | 18,716,143.66 | 1,410,751,393.61 | -- | -- | ||
| Disclosure date of the board announcement approving the securities investments | On 27 March 2020, the Board of Directors of the Company held a meeting to consider and approve the proposal relating to securities investment for the year 2020 and submitted them to the shareholders' meeting for consideration, with the securities investment valid for 12 months from the date of approval at the shareholders' meeting and the announcement date of the Board of Directors' resolution was 28 March 2020; and on 29 March 2021, the Board of Directors held a meeting to consider and approve the proposal relating to securities investment for the year 2021 and submitted them to the shareholders' meeting for consideration, with the securities investment valid for 12 months from the date of approval at the shareholders' meeting and the announcement date of the board resolution is 30 March 2021. |
| Disclosure date of the general meeting announcement approving the securities investments (if any) | On 13 April 2020, the shareholders' meeting was held to consider and approve the proposal relating to securities investment for the year 2020, and the announcement date of the resolution of the shareholders' meeting was 14 April 2020; and On 19 April 2021, the shareholders' meeting was held to consider and approve the proposal relating to securities investment for the year 2021, and the announcement date of the resolution of the shareholders' meeting was 20 April 2021. |
2. Investments in Derivative Financial Instruments
□ Applicable √ Not applicable
No such cases in the Reporting Period.V Progress of Investment Projects with Raised Funds
□ Applicable √Not applicable
VI Forecast of the Operating Performance from January to June 2021
□ Applicable √Not applicable
VII Significant Contracts Arising in the Ordinary Course of Business
□ Applicable √Not applicable
VIII Cash Entrusted for Wealth Management
√ Applicable □ Not applicable
Unit: RMB’0,000
| Type | Funding source | Amount | Undue amount | Unrecovered overdue amount | |
| Bank’s wealth management product | Self-funded | 50,885.69 | 4,500 | 0 | |
| Securities firm’s wealth management product | Self-funded | 60,000 | 60,000 | 0 | |
| Trust product | Self-funded | 50,000 | 50,000 | 0 | |
| Total | 160,885.69 | 114,500 | 0 | 0 | |
High-risk wealth management transactions with a significant single amount or with low security, low liquidity and no principalprotection:
□ Applicable √ Not applicable
Wealth management transactions where the principal is expectedly irrecoverable or an impairment may be incurred:
□ Applicable √ Not applicable
IX Irregularities in Provision of Guarantees
□ Applicable √ Not applicable
No such cases in the Reporting Period.X Occupation of the Company’s Capital by the Controlling Shareholder or Its Related Partiesfor Non-Operating Purposes
□ Applicable √ Not applicable
No such cases in the Reporting Period.XI Communications with the Investment Community such as Researches, Inquiries andInterviews
□ Applicable √ Not applicable
No such cases in the Reporting Period.
Part IV Financial Statements
I Financial Statements
1. Consolidated Balance Sheet
Unit: RMB
| Item | 31 March 2021 | 31 December 2020 |
| Current assets: | ||
| Cash and bank balances | 1,326,498,727.17 | 885,711,053.88 |
| Financial assets held for trading | 1,410,751,393.61 | 1,636,296,430.31 |
| Notes receivable | 11,800,000.00 | 12,744,582.88 |
| Accounts receivable | 479,522,268.48 | 469,635,423.58 |
| Receivable financing | 67,828,343.55 | 56,737,978.04 |
| Prepayments | 43,782,399.19 | 29,109,416.21 |
| Other receivables | 72,856,286.34 | 79,103,472.64 |
| Including: Interest receivable | 1,062,075.70 | 587,074.81 |
| Inventories | 798,616,561.86 | 734,120,595.26 |
| Contract assets | 31,987,882.67 | 29,504,693.97 |
| Current portion of non-current assets | 2,556,000.00 | 2,556,000.00 |
| Other current assets | 18,330,760.15 | 22,271,217.65 |
| Total current assets | 4,264,530,623.02 | 3,957,790,864.42 |
| Non-current assets: | ||
| Long-term receivables | 836,000.00 | 1,475,000.00 |
| Long-term equity investment | 72,052,743.62 | 72,671,204.73 |
| Other non-current financial assets | 5,937,376.24 | 5,948,588.15 |
| Fixed assets | 559,802,619.08 | 571,413,480.14 |
| Construction in progress | 8,125,033.65 | 9,062,038.52 |
| Right-of-use assets | 91,296,861.47 | |
| Intangible assets | 320,983,533.24 | 332,387,182.69 |
| Goodwill | 317,727,672.78 | 324,904,239.97 |
| Long-term prepaid expenses | 12,322,580.50 | 12,096,981.78 |
| Deferred tax assets | 101,372,675.78 | 98,947,059.25 |
| Other non-current assets | 673,638,747.48 | 936,540,047.40 |
| Total non-current assets | 2,164,095,843.84 | 2,365,445,822.63 |
| Total assets | 6,428,626,466.86 | 6,323,236,687.05 |
| Current liabilities: | ||
| Short-term borrowings | 225,833,831.08 | 39,533,281.84 |
| Financial liabilities held for trading | 41,408,109.80 | 41,408,109.80 |
| Notes payable | 88,918,868.45 | 104,855,187.97 |
| Accounts payable | 484,018,893.69 | 503,042,561.05 |
| Contract liabilities | 460,417,805.17 | 362,792,713.35 |
| Employee benefits payable | 96,638,143.90 | 92,623,562.93 |
| Tax payable | 45,647,293.94 | 36,369,777.05 |
| Other payables | 87,475,714.71 | 81,743,851.64 |
| Current portion of non-current liabilities | 48,424,885.76 | 226,597,528.74 |
| Other current liabilities | 22,601,714.80 | 20,532,046.04 |
| Total current liabilities | 1,601,385,261.30 | 1,509,498,620.41 |
| Non-current liabilities: | ||
| Long-term borrowings | 311,932,511.46 | 353,412,388.29 |
| Lease liabilities | 87,289,189.63 | |
| Long-term employee benefits payable | 21,692,970.68 | 18,451,652.74 |
| Provisions | 102,399,513.62 | 105,450,257.63 |
| Deferred income | 16,507,908.11 | 16,861,488.27 |
| Deferred tax liabilities | 23,400,540.49 | 19,296,386.16 |
| Other non-current liabilities | 65,977,640.15 | 68,737,415.25 |
| Total non-current liabilities | 629,200,274.14 | 582,209,588.34 |
| Total Liabilities | 2,230,585,535.44 | 2,091,708,208.75 |
| Equity: | ||
| Share capital | 1,544,226,957.00 | 1,545,126,957.00 |
| Capital surplus | 4,008,264,910.83 | 4,002,393,061.81 |
| Less: Treasury stock | 675,290,325.27 | 579,403,185.12 |
| Other comprehensive income | 7,925,845.78 | 20,026,089.70 |
| Special reserve | 10,632,400.51 | 10,057,438.97 |
| Surplus reserves | 51,830,974.45 | 51,830,974.45 |
| Retained earnings | -826,864,733.16 | -891,492,837.06 |
| Total equity attributable to owners of the parent | 4,120,726,030.14 | 4,158,538,499.75 |
| Non-controlling interests | 77,314,901.28 | 72,989,978.55 |
| Total equity | 4,198,040,931.42 | 4,231,528,478.30 |
| Total liabilities and equity | 6,428,626,466.86 | 6,323,236,687.05 |
Legal representative: Tang Zhuolin Chief in charge of accounting work: Shao Yongfeng Head of accounting institution: Yao Bin
2. Parent Company Balance Sheet
Unit: RMB
| Item | 31 March 2021 | 31 December 2020 |
| Current assets: | ||
| Cash and bank balances | 377,356,111.70 | 134,020,813.88 |
| Financial assets held for trading | 1,190,440,180.18 | 1,539,762,030.97 |
| Accounts receivable | 158,394,483.32 | 153,517,438.90 |
| Receivable financing | 48,220,548.92 | 53,245,689.47 |
| Prepayments | 6,895,061.91 | 2,641,946.74 |
| Other receivables | 354,273,721.99 | 68,388,543.22 |
| Inventories | 128,544,407.03 | 123,156,907.36 |
| Contract assets | 1,530,438.38 | 4,470,173.25 |
| Current portion of non-current assets | 2,556,000.00 | 2,556,000.00 |
| Other current assets | 18,942.75 | 18,942.75 |
| Total current assets | 2,268,229,896.18 | 2,081,778,486.54 |
| Non-current assets: | ||
| Long-term receivables | 836,000.00 | 1,475,000.00 |
| Long-term equity investment | 464,247,504.94 | 464,794,856.81 |
| Fixed assets | 325,002,829.95 | 329,230,669.84 |
| Construction in progress | 359,752.18 | 351,261.61 |
| Right-of-use assets | 21,201,381.47 | |
| Intangible assets | 57,557,957.07 | 58,215,631.98 |
| Long-term prepaid expenses | 3,890,157.48 | 3,475,004.06 |
| Deferred tax assets | 33,621,285.65 | 32,570,759.90 |
| Other non-current assets | 673,122,689.00 | 935,660,189.00 |
| Total non-current assets | 1,579,839,557.74 | 1,825,773,373.20 |
| Total assets | 3,848,069,453.92 | 3,907,551,859.74 |
| Current liabilities: | ||
| Notes payable | 43,486,181.71 | 55,312,772.43 |
| Accounts payable | 52,707,512.93 | 53,044,344.90 |
| Contract liabilities | 25,879,751.65 | 22,116,154.74 |
| Employee benefits payable | 17,849,885.96 | 16,961,090.03 |
| Tax payable | 4,458,136.16 | 5,181,895.95 |
| Other payables | 46,695,431.87 | 50,884,934.80 |
| Current portion of non-current liabilities | 4,319,265.49 | |
| Other current liabilities | 2,498,425.02 | 2,253,619.05 |
| Total current liabilities | 197,894,590.79 | 205,754,811.90 |
| Non-current liabilities: | ||
| Lease liabilities | 17,193,709.63 | |
| Deferred income | 13,027,806.66 | 13,306,971.66 |
| Deferred tax liabilities | 3,894,304.65 | 3,894,304.65 |
| Total non-current liabilities | 34,115,820.94 | 17,201,276.31 |
| Total Liabilities | 232,010,411.73 | 222,956,088.21 |
| Equity: | ||
| Share capital | 1,544,226,957.00 | 1,545,126,957.00 |
| Capital surplus | 3,851,421,723.30 | 3,846,323,477.68 |
| Less: Treasury stock | 675,290,325.27 | 579,403,185.12 |
| Special reserve | 4,241,189.66 | 3,835,986.08 |
| Surplus reserves | 51,830,974.45 | 51,830,974.45 |
| Retained earnings | -1,160,371,476.95 | -1,183,118,438.56 |
| Total equity | 3,616,059,042.19 | 3,684,595,771.53 |
| Total liabilities and equity | 3,848,069,453.92 | 3,907,551,859.74 |
3. Consolidated Income Statement
Unit: RMB
| Item | Q1 2021 | Q1 2020 |
| Total operating revenue | 636,432,223.23 | 618,374,944.67 |
| Including: Operating revenue | 636,432,223.23 | 618,374,944.67 |
| Total operating cost | 579,492,091.36 | 581,488,481.66 |
| Including: Cost of sales | 432,070,127.91 | 457,636,080.05 |
| Taxes and surcharges | 4,047,391.51 | 3,914,520.73 |
| Selling expenses | 57,114,645.46 | 46,892,860.86 |
| Administrative expenses | 68,517,268.26 | 55,671,100.82 |
| R&D expenses | 20,080,208.07 | 13,749,361.22 |
| Finance costs | -2,337,549.85 | 3,624,557.98 |
| Including: Interest expenses | 2,917,762.69 | 4,578,253.59 |
| Interest income | 5,180,086.23 | 5,541,448.43 |
| Add: Other income | 2,415,015.19 | 548,066.08 |
| Investment income (loss with "-" sign) | 37,814,460.29 | 21,624,480.68 |
| Including: Share of profit or loss of joint ventures and associates | -547,351.87 | 5,853.72 |
| Gain/loss on changes in fair value (loss with "-" sign) | -14,286,064.93 | 1,514,846.98 |
| Credit impairment loss (loss is listed with "-" sign) | 989,233.70 | |
| Asset impairment loss (loss with "-" sign) | 960,740.25 | -1,594,314.49 |
| Gain/loss on disposal of assets (loss with "-" sign) | 275,491.34 | |
| Operating profit (losses are listed with "-" sign) | 85,109,007.71 | 58,979,542.26 |
| Add: Non-operating income | 757,631.05 | 2,379,749.43 |
| Less: Non-operating expenses | 291,794.44 | 371,285.41 |
| Gross profit (the gross loss shall be filled in with the sign "-") | 85,574,844.32 | 60,988,006.28 |
| Less: Income tax expenses | 15,711,510.94 | 15,109,392.60 |
| Net profit (net loss is listed with "-" sign) | 69,863,333.38 | 45,878,613.68 |
| (1) Net profit from continuing operations | ||
| i. Net profit from continuing operations (net loss with "-" sign) | 69,863,333.38 | 45,878,613.68 |
| (2) Net profit classified by attribution of ownership | ||
| i. Net profit attributable to owners of the parent | 64,628,103.90 | 47,491,377.77 |
| ii. Net profit attributable to non-controlling interests | 5,235,229.48 | -1,612,764.09 |
| Other comprehensive income/(loss), net of tax | -13,010,550.67 | -187,875.31 |
| Other comprehensive income/(loss) attributable to owners of the parent, net of tax | -12,100,243.92 | -187,875.31 |
| (1) Other comprehensive loss that will not be reclassified to profit or loss | -468,405.38 | |
| i. Changes caused by remeasurements on defined benefit schemes | -468,405.38 | |
| (2) Other comprehensive income/(loss) that will be reclassified to profit or loss | -11,631,838.54 | -187,875.31 |
| vi. Differences arising from the translation of foreign currency-denominated financial statements | -11,631,838.54 | -187,875.31 |
| Other comprehensive income attributable to non-controlling interests, net of tax | -910,306.75 | |
| Total comprehensive income | 56,852,782.71 | 45,690,738.37 |
| Total comprehensive income attributable to owners of the parent | 52,527,859.98 | 47,303,502.46 |
| Total comprehensive income attributable to non-controlling interests | 4,324,922.73 | -1,612,764.09 |
| Earnings per share: | ||
| (1) Basic earnings per share | 0.04 | 0.03 |
| (2) Diluted earnings per share | 0.04 | 0.03 |
Legal representative: Tang Zhuolin Chief in charge of accounting work: Shao Yongfeng Head of accounting institution: Yao Bin
4. Parent Company Income Statement
Unit: RMB
| Item | Q1 2021 | Q1 2020 |
| Operating Revenue | 94,362,781.03 | 62,887,114.38 |
| Less: Cost of sales | 52,636,336.62 | 37,107,803.20 |
| Taxes and surcharges | 2,688,456.85 | 3,010,272.32 |
| Selling expenses | 4,168,126.23 | 5,190,034.53 |
| Administrative expenses | 22,392,970.34 | 12,720,151.52 |
| R&D expenses | 10,285,156.51 | 4,486,308.96 |
| Finance costs | -4,108,573.37 | -841,953.60 |
| Including: Interest expense | 483,530.58 | 1,200,483.33 |
| Interest income | 3,666,183.16 | 4,074,411.00 |
| Add: other income | 1,856,593.31 | 279,165.00 |
| Investment income (loss with "-" sign) | 8,835,280.64 | 21,579,176.54 |
| Including: Share of profit or loss of joint ventures and associates | -547,351.87 | 5,853.72 |
| Gain/loss on changes in fair value (loss with "-" sign) | 2,744,343.27 | 1,797,561.40 |
| Asset impairment loss (loss with "-" sign) | 1,633,998.19 | |
| Gain/loss on disposal of assets (loss with "-" sign) | 275,491.34 | |
| Operating profit (loss shall be listed with "-" sign) | 21,646,014.60 | 24,870,400.39 |
| Add: Non-operating income | 52,421.26 | 2,243,761.00 |
| Less: Non-operating expenses | 2,000.00 | 316,600.00 |
| Gross profit (gross loss shall be filled in with the sign "-") | 21,696,435.86 | 26,797,561.39 |
| Less: Income tax expenses | -1,050,525.75 | 4,021,924.87 |
| Net profit (net loss is listed with "-" sign) | 22,746,961.61 | 22,775,636.52 |
| Total comprehensive income | 22,746,961.61 | 22,775,636.52 |
5.Consolidated Statement of Cash Flows
Unit: RMB
| Item | Q1 2021 | Q1 2020 |
| 1Cash flows from operating activities: | ||
| Proceeds from sale of goods and rendering of services | 731,987,863.56 | 695,219,287.09 |
| Receipts of taxes and surcharges refunds | 11,136,430.41 | 10,664,890.52 |
| Cash generated from other operating activities | 13,378,861.31 | 13,948,141.53 |
| Subtotal of cash generated from operating activities | 756,503,155.28 | 719,832,319.14 |
| Payments for goods and services | 466,797,537.97 | 536,072,255.86 |
| Cash payments to and on behalf of employees | 83,351,684.73 | 55,012,239.65 |
| Payments of all types of taxes and surcharges | 11,887,050.08 | 16,347,988.73 |
| Cash used in other operating activities | 136,930,505.78 | 197,871,457.54 |
| Subtotal of cash used in operating activities | 698,966,778.56 | 805,303,941.78 |
| Net cash generated from/used in operating activities | 57,536,376.72 | -85,471,622.64 |
| 2 Cash flows from investing activities: | ||
| Proceeds from disinvestment | 980,798,538.60 | |
| Investment income | 42,308,828.65 | |
| Net proceeds from the disposal of fixed assets, intangible assets and other long-lived assets | 519,197.20 | |
| Cash generated from other investing activities | 2,069,077.00 | 593,724,030.96 |
| Subtotal of cash generated from investing activities | 1,025,695,641.45 | 593,724,030.96 |
| Payments for the acquisition of fixed assets, intangible assets and other | 6,927,194.84 | 74,459,817.73 |
| long-lived assets | ||
| Payments for investments | 512,634,572.51 | |
| Cash used in other investing activities | 34,000,000.00 | |
| Subtotal of cash used in investing activities | 519,561,767.35 | 108,459,817.73 |
| Net cash generated from/used in investing activities | 506,133,874.10 | 485,264,213.23 |
| 3 Cash flows from financing activities: | ||
| Borrowings raised | 198,986,769.00 | 71,352,693.86 |
| Cash generated from other financing activities | 59,244,800.98 | |
| Subtotal of cash generated from financing activities | 258,231,569.98 | 71,352,693.86 |
| Repayment of borrowings | 212,772,924.79 | 158,504,233.87 |
| Interest and dividends paid | 2,645,963.85 | 4,553,361.82 |
| Cash used in other financing activities | 152,813,656.83 | 327,000.00 |
| Subtotal of cash used in financing activities | 368,232,545.47 | 163,384,595.69 |
| Net cash generated from/used in financing activities | -110,000,975.49 | -92,031,901.83 |
| 4 Effect of foreign exchange rates changes on cash and cash equivalents | -15,098,439.51 | 2,796,271.09 |
| 5 Net (decrease)/increase in cash and cash equivalents | 438,570,835.82 | 310,556,959.85 |
| Add: Cash and cash equivalents, beginning of the period | 860,601,236.78 | 2,312,190,271.56 |
| 6 Cash and cash equivalents, end of the period | 1,299,172,072.60 | 2,622,747,231.41 |
6.Parent Company Statement of Cash Flow
Unit: RMB
| Item | Q1 2021 | Q1 2020 |
| Cash flow generated by business activities: | ||
| Cash received from the sale of | 94,756,154.97 | 97,293,624.68 |
| goods and the provision of services | ||
| Receipts of taxes and surcharges refunds | 1,064,783.44 | 2,998,393.83 |
| Cash generated from other operating activities | 6,460,009.98 | 12,528,235.40 |
| Subtotal of cash generated from operating activities | 102,280,948.39 | 112,820,253.91 |
| Payments for goods and services | 69,533,004.58 | 61,587,839.41 |
| Cash payments to and on behalf of employees | 19,460,709.40 | 20,666,974.47 |
| Payments of all types of taxes and surcharges | 4,230,508.18 | 3,753,566.40 |
| Cash used in other operating activities | 11,545,422.61 | 103,647,802.56 |
| Subtotal of cash used in operating activities | 104,769,644.77 | 189,656,182.84 |
| Net cash generated from/used in operating activities | -2,488,696.38 | -76,835,928.93 |
| 2 Cash flows from investing activities: | ||
| Proceeds from disinvestment | 688,017,072.92 | |
| Investment income | 52,464,826.57 | |
| Net proceeds from the disposal of fixed assets, intangible assets and other long-lived assets | 510,562.75 | |
| Cash generated from other investing activities | 13,169,027.30 | 569,686,288.46 |
| Subtotal of cash generated from investing activities | 754,161,489.54 | 569,686,288.46 |
| Payments for the acquisition of fixed assets, intangible assets and other long-lived assets | 5,968,408.90 | 1,080,828.80 |
| Payments for investments | 79,033,072.92 | |
| Cash used in other investing activities | 331,010,000.00 | |
| Subtotal of cash used in investing activities | 416,011,481.82 | 1,080,828.80 |
| Net cash generated from/used in investing activities | 338,150,007.72 | 568,605,459.66 |
| 3 Cash flows from financing activities: | ||
| Cash generated from other financing activities | 12,991,948.92 | |
| Subtotal of cash generated from financing activities | 12,991,948.92 | |
| Repayment of borrowings | 1,271,445.72 | 90,000,000.00 |
| Interest and dividends paid | 1,075,452.00 | |
| Cash used in other financing activities | 108,188,405.48 | 327,000.00 |
| Subtotal of cash used in financing activities | 109,459,851.20 | 91,402,452.00 |
| Net cash generated from/used in financing activities | -96,467,902.28 | -91,402,452.00 |
| 4 Effect of foreign exchange rates changes on cash and cash equivalents | -443,605.26 | |
| 5 Net (decrease)/increase in cash and cash equivalents | 239,193,409.06 | 399,923,473.47 |
| Add: Cash and cash equivalents, beginning of the period | 126,339,870.71 | 1,770,491,895.62 |
| 6 Cash and cash equivalents, end of the period | 365,533,279.77 | 2,170,415,369.09 |
II Explanation of the Adjustment of Financial Statements
1. Initial Implementation of the New Lease Standard since the fiscal year of 2021, correspondingadjustments to the relevant items in the financial statements at the beginning of the year
□Applicable √ Not applicable
2. Description of retrospective adjustment to prior comparative data for the initial implementation of theNew Lease Standard since the fiscal year of 2021
□Applicable √ Not applicable
III Audit report
Whether the first quarter report has been audited
□ Yes √ No
The company's first quarter report has not been audited.