HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for
The First Quarter 2021
Section I. Important Notes
The Board of Directors, the Board of Supervisors as well as all the directors, supervisors and seniormanagers of HARBIN BOSHI AUTOMATION CO., LTD. (hereinafter referred to as “the Company”)warrant the factuality, accuracy and completeness of this Report and there is no false record, misleadingstatement or material omission. And they will be severally and jointly liable for this Report.All directors attended the Board Meeting in person for reviewing this Report.Mr. Deng Xijun, person in charge of the Company, Mr. Sun Zhiqiang, person in charge of accounting workof the Company, and Ms. Wang Peihua, person in charge of Accounting Department of the Company warrantthat the financial statements in this Report are factual, accurate and complete.The Company’s Interim Report for the First Quarter 2021 is prepared and published in Chinese version, andthe English version is for reference only. Should there be any inconsistency between the Chinese version andEnglish version, the Chinese version shall prevail.
Section II. Basic Situation of the Company
1. Key accounting data and financial indicators
Indicate by check mark if there is any retrospectively restated accounting data of previous years.
□Yes √No
Jan 1 to Mar 31, 2021 | Jan 1 to Mar 31, 2020 | Year to year change (%) | |
Operating Revenue (RMB Yuan) | 546,281,751.47 | 486,509,069.88 | 12.29% |
Net profit attributable to parent company’s shareholders (RMB Yuan) | 149,917,543.44 | 114,809,150.06 | 30.58% |
Net profit attributable to parent company’s shareholders excluding non-recurring gains and losses (RMB Yuan) | 140,396,126.34 | 108,408,672.06 | 29.51% |
Net cash flows from operating activities (RMB Yuan) | 106,876,043.79 | -71,169,052.04 | 250.17% |
Basic EPS (RMB Yuan /share) | 0.1466 | 0.1123 | 30.54% |
Diluted EPS (RMB Yuan /share) | 0.1466 | 0.1123 | 30.54% |
Weighted average ROE | 5.67% | 4.89% | 0.78% |
Mar 31, 2021 | Dec 31, 2020 | Increase/decrease of Mar 31, 2021 over Dec 31, 2020 | |
Total assets (RMB Yuan) | 4,620,335,655.91 | 4,576,810,168.61 | 0.95% |
Net assets attributable to parent company’s shareholder (RMB Yuan) | 2,717,257,881.89 | 2,568,750,413.53 | 5.78% |
Non-recurring gains and losses
√ Applicable □Not applicable
Unit: RMB Yuan
Item | Jan 1 to Mar 31, 2021 | Note |
Profit or loss from disposal of non-current assets (including the write-off of accrued for impairment of assets) | -17,219.91 | |
Governmental subsidy reckoned into current gains or losses (excluding the subsidy enjoyed in quota or ration according to the unified national standards, which are closely relevant to enterprise’s business) | 4,387,584.07 | |
Except for effectively hedging business related to normal business operations of the Company, profit or loss arising from the changes in the fair value of financial assets held for trading, derivative financial assets, financial liabilities held for trading and derivative financial liabilities, as well as investment income from the disposal of financial assets held for trading, derivative financial assets, financial liabilities held for trading, derivative financial liabilities and investments in other debt obligations | 6,790,115.75 | Income from cash management |
Less: Impact on income tax | 1,263,623.84 | |
Impact on minority shareholders’ equity (after tax) | 375,438.97 | |
Total | 9,521,417.10 | -- |
Explain the reasons if the Company classifies the non-recurring profit/loss item according to the definition inExplanatory Announcement No.1 on Information Disclosure for Companies Offering Their Securities to thePublic --- non-recurring Profit and loss, or classifies any non-recurring profit/loss item listed in theExplanatory Announcement No.1 on Information Disclosure for Companies Offering Their Securities to thePublic --- non-recurring Profit and loss as the recurring profit/loss item.
□Applicable √Not applicable
There is no non-recurring profit/loss items according to the definition or the lists in ExplanatoryAnnouncement No.1 on Information Disclosure for Companies Offering Their Securities to the Public ---non-recurring Profit and loss are classified as recurring profit/loss items in the Company in reporting period.
2. Number of stockholders and the shareholding conditions of the top 10 shareholders at the end of thereporting period
(1) Number of common stockholders and preferred stockholders with voting rights restored and theshareholding conditions of the top 10 shareholders
Unit: Share
Total number of shareholders of common stocks at the end of the reporting period | 26,887 | Total number of shareholders of preferred stock with resumed voting right at the end of the reporting period | 0 | |||||||
Top 10 shareholders | ||||||||||
Name | Nature | Ownership | Quantity of stocks | Quantity of restricted stocks | Pledged or frozen stocks | |||||
Status | Quantity | |||||||||
Harbin Institute of Technology Asset Investment Management Co. Ltd | Domestic state-owned legal person | 22.11% | 226,135,000 | |||||||
Deng Xijun | Domestic natural person | 9.31% | 95,206,362 | 71,404,772 | ||||||
Zhang Yuchun | Domestic natural person | 8.09% | 82,696,357 | 62,022,268 | Pledged | 16,053,400 | ||||
Wang Chungang | Domestic natural person | 5.61% | 57,394,047 | 43,045,535 | ||||||
Cai Zhihong | Domestic natural person | 4.96% | 50,677,029 | |||||||
Cai Hegao | Domestic natural person | 4.89% | 50,000,000 | 37,500,000 | ||||||
Sealand Securities - SPDB - Guohai Securities Lvyuan No. 1058 Collective Asset Management Plan | Others | 2.00% | 20,450,000 | |||||||
Tan Jianxun | Domestic natural person | 1.51% | 15,432,533 | |||||||
Cheng Fang | Domestic natural person | 1.51% | 15,405,738 | |||||||
Hong Kong Securities Clearing Company Ltd. (HKSCC) | Foreign legal person | 1.30% | 13,336,112 | |||||||
Top 10 non-restricted shareholders | ||||||||||
Name | Quantity of non-restricted stocks | Type of shares | ||||||||
Type | Quantity | |||||||||
Harbin Institute of Technology Asset Investment Management Co. Ltd | 226,135,000 | RMB common stock | 226,135,000 |
Cai Zhihong | 50,677,029 | RMB common stock | 50,677,029 |
Deng Xijun | 23,801,590 | RMB common stock | 23,801,590 |
Zhang Yuchun | 20,674,089 | RMB common stock | 20,674,089 |
Sealand Securities - SPDB - Guohai Securities Lvyuan No. 1058 Collective Asset Management Plan | 20,450,000 | RMB common stock | 20,450,000 |
Tan Jianxun | 15,432,533 | RMB common stock | 15,432,533 |
Cheng Fang | 15,405,738 | RMB common stock | 15,405,738 |
Wang Chungang | 14,348,512 | RMB common stock | 14,348,512 |
Hong Kong Securities Clearing Company Ltd. (HKSCC) | 13,336,112 | RMB common stock | 13,336,112 |
Cai Hegao | 12,500,000 | RMB common stock | 12,500,000 |
Explanation on the above-mentioned shareholders’ affiliated relationship or concerted action | Among the above-mentioned shareholders, Deng Xijun, Zhang Yuchun, Wang Chungang, and Cai Hegao keep concerted action through the Concert Action Agreement and jointly control the company at the end of the reporting period; Cai Zhihong is the son of Cai Hegao, he independently exercised shareholder rights based on his personal wishes, he has not signed concerted action agreement or reached a similar agreement or arrangement with Cai Hegao, nor has other concerted action plan, they are not persons acting in concert; Cheng Fang is the sister of Wang Chungang 's wife; Cheng Fang and Tan Jianxun are the sponsors of shareholders. In addition, the company is not made aware whether there is any affiliated relationship between the above-mentioned shareholders or whether they are persons acting in concert as defined in Administrative Measures for the Acquisition of Listed Companies. | ||
Explanation on the top 10 shareholders that are engaged in margin trading business | None |
Whether the top 10 shareholders or the top 10 non-restricted shareholders of the Company conduct anypromissory repurchase during the reporting period or not.
□Yes √No
The top 10 shareholders and the top 10 non-restricted shareholders of the Company did not conduct anypromissory repurchase during the reporting periodNote: On Dec 22, 2020, Harbin Institute of Technology Asset Investment Management Co. Ltd (hereinafterreferred to as "HIT Investment") and Lianchuang Weilai (Wuhan) Intelligent Manufacturing IndustryInvestment Partnership (limited partnership)(hereinafter referred to as "Lianchuang Weilai") signed the"Share Transfer Agreement" with effective conditions. Lianchuang Weilai has acquired 175,007,500non-restricted tradable shares of Boshi held by HIT Investment, accounting for 17.11% of the total sharecapital of Boshi. After the completion of this share transfer, Lianchuang Weilai will become the largestshareholder of the Company, but is non-controlling shareholder. The "Share Transfer Agreement" has beenapproved and effected by Harbin Institute of Technology. At present, the share transfer has not yet beenregistered temporarily.
(2) The total number of preferred shareholders and the top 10 preferred shareholders' shareholdingsof the Company
□Applicable √Not applicable
Section III. Significant Events
1. Major changes and explanation about variations in key financial statement items and financialindicators during the reporting period.
√Applicable □Not applicable
Consolidated Balance Sheet items | Mar 31,2021 (RMB Yuan) | Change (%) | Reasons for the changes |
Advance payment | 69,920,091.00 | 41.65% | Mainly due to the increase of operating prepayments of goods |
Long-term deferred expenses | -100.00% | The decoration expenses of building has been fully amortized in the current reporting period | |
Advance from customers | 323,500.00 | 397.69% | The rent received in advance for the lease activity from the subsidiary |
Employee benefits payable | 20,477,661.37 | -60.89% | The year-end bonus of 2020 accrued at the end of the previous period were paid in Feb, 2021, and the balance decreased |
Other payables | 2,645,148.74 | 63.42% | The payables to employees at the end of the reporting period increased |
Non-current liabilities due within one year | 29,251,450.24 | 103.64% | It is mainly including the long term bank loan due within one year of the subsidiary- BOAO Environment |
Long-term loans | -100.00% | ||
Other comprehensive income | 4,792,678.09 | -32.63% | Foreign currency translation differences arising from foreign secondary subsidiary |
Consolidated Income Statement items from the beginning of the year to the end of the reporting period | Jan 1 to Mar 31, 2021 (RMB Yuan) | Change (%) | Reasons for the changes |
Financial expenses | 811,977.16 | 810.19% | The impact of exchange gains and losses due to exchange rate fluctuations in the current period |
Other income | 24,924,414.47 | 522.54% | The software tax refund received in current period increased over the same period of last year |
Investment income (loss is stated with “-”) | -3,630,366.42 | -2694.34% | Mainly due to the impact of fluctuations in the profitability of associates and joint ventures |
Thereof: Investment income from associates and joint ventures | -7,616,168.62 | -57.54% | |
Gains from changes in fair value (loss is stated with “-”) | 2,804,313.55 | 62.69% | Due to the impact of cash management |
Credit impairment losses (loss is stated with “-”) | 3,731,390.95 | -322.44% | The provision for bad debts for the current period decreased over the same period of last year |
Asset impairment losses (loss is stated with “-”) | -960,513.98 | 436.34% | The asset impairment provision increased over the same period of last year |
Gains from disposal of assets (loss is stated with “-”) | -16,983.16 | -42.30% | The loss caused by the disposal of fixed assets in the current period increased year-on-year |
Non-operating income | -100.00% | There is no non-operating income in the current period | |
Non-operating expenses | 236.75 | -95.14% | Non-operating expenses of the current period decreased |
Translation differences arising from translation of foreign currency financial statements | -2,321,150.75 | -2235.39% | Foreign currency translation differences arising from foreign secondary subsidiary |
Consolidated Cash Flow Statement items from the beginning of the year to the end of the reporting period | Jan 1 to Mar 31, 2021 (RMB Yuan) | Change (%) | Reasons for the changes |
Net cash flows from operating activities | 106,876,043.79 | 250.17% | The cash flows of same period of last year were affected by the COVID-19 , and that of the current period has returned to normal levels |
Net cash flows from investing activities | -129,866,710.84 | -275.90% | Mainly due to the impact of cash management |
Net cash flows from financing activities | -7,838,611.91 | -1456.52% | Mainly due to the cash dividends distributed by subsidiaries to minority shareholders in the current period increased over the same period of last year |
Note: The Consolidated Balance Sheet items in the table above refer to items at the end of current period thatincreased or decreased more than 30% over the balance of the end of previous year, the Consolidated IncomeStatement items from the beginning of the year to the end of the reporting period and Consolidated CashFlow Statement items from the beginning of the year to the end of the reporting period refer to items duringcurrent period that increased or decreased more than 30% over the same period of last year. The currentperiod is from Jan 1, 2021 to Mar 31, 2021.
2. Progress, influence and solutions of significant events
□Applicable √Not applicable
Progress of share repurchase
□Applicable √Not applicable
Progress of any repurchased share reduction through centralized price bidding
□Applicable √Not applicable
3. Overdue commitments from the Company’s actual controller, shareholders, related parties andacquirers, as well as the Company and other commitment makers in the reporting period
□Applicable √Not applicable
There is no overdue commitment of the Company’s actual controller, shareholders, related parties andacquirers, as well as the Company and other commitment makers in the reporting period.
4. Financial assets investment
(1) Securities investment
□Applicable √Not applicable
There is no investment in securities in the reporting period.
(2) Derivatives investments
□Applicable √Not applicable
There is no investment in derivatives in the reporting period.
5. Progress of investment projects with raised funds
□Applicable √Not applicable
6. Operating result forecast from January to June of 2021
Warning and explanations for the reasons of possible loss or considerable year to year change of theaccumulated net profit during the beginning of 2021 until the end of the next reporting period according topredictions.
□Applicable √Not applicable
7. Entrusted financial management
√Applicable □Not applicable
Unit: RMB Ten Thousands Yuan
Type | Funding source | Amount of entrusted financial management | Closing carrying amount | Overdue amount not recovered |
Bank cash management instrument | The Company's own funds | 50,000 | 50,000 | 0 |
Total | 50,000 | 50,000 | 0 |
Note: All the entrusted financial management products in the above are structured deposits. The amount ofentrusted financial management is the highest balance of this type of entrusted financial management held bythe company during the reporting period. The closing carrying amount refers to the outstanding balance ofthis type of entrusted financial management held at the end of the reporting period.
The specific situation of high-risk entrusted financial management with a large single amount or low security,poor liquidity, and no principal protection
□Applicable √Not applicable
The entrusted financial management is expected to be unable to recover the principal or other situations thatmay cause impairment
□Applicable √Not applicable
8. External guarantees against regulation
□Applicable √Not applicable
There is no external guarantee against regulation in the reporting period.
9. Occupation of the Company’s funds by the controlling shareholders or its related parties fornon-operating purposes
□Applicable √Not applicable
There is no occupation of the Company’s funds by the controlling shareholders or its related parties fornon-operating purposes in the reporting period.
Section IV. Financial Statements
1. Financial statements
(1) Consolidated Balance Sheet
Prepared by HARBIN BOSHI AUTOMATION CO., LTD.
Unit: RMB Yuan
Item | Mar 31 ,2021 | Dec 31, 2020 |
Current assets: | ||
Cash and cash equivalent | 81,410,970.22 | 114,882,208.58 |
Financial assets held for trading | 1,054,970,985.54 | 925,736,671.99 |
Derivative financial assets | ||
Notes receivable | 414,414,383.92 | 451,042,158.41 |
Accounts receivable | 723,186,569.71 | 697,718,969.34 |
Financing receivable | ||
Advance payment | 69,920,091.00 | 49,361,424.98 |
Other receivables | 15,101,436.66 | 12,814,291.13 |
Thereof: Interest receivable | ||
Dividend receivable | ||
Inventories | 1,466,837,073.83 | 1,510,919,027.41 |
Contract assets | ||
Assets held for sale | ||
Non-current assets due within one year | ||
Other current assets | 29,211,483.53 | 32,990,507.69 |
Total current assets | 3,855,052,994.41 | 3,795,465,259.53 |
Non-current assets: | ||
Debt investments | ||
Other debt investments | ||
Long-term receivable | ||
Long-term equity investment | 336,478,482.21 | 344,094,650.83 |
Investment in other equity instruments | 35,000,000.00 | 35,000,000.00 |
Other non-current financial assets | ||
Investment real estate | 7,060,892.20 | 7,159,198.06 |
Fixed assets | 230,835,826.68 | 235,572,771.55 |
Construction in progress | 4,099,390.68 | 4,099,390.68 |
Productive biological assets | ||
Oil and gas assets | ||
Right-of-use assets | 1,148,282.77 | |
Intangible assets | 61,255,709.78 | 62,601,735.18 |
Development expenditure | ||
Goodwill | 60,703,607.93 | 63,225,965.69 |
Long-term deferred expenses | 6,416.02 | |
Deferred income tax assets | 28,700,469.25 | 29,584,781.07 |
Other non-current assets | ||
Total non-current assets | 765,282,661.50 | 781,344,909.08 |
Total assets | 4,620,335,655.91 | 4,576,810,168.61 |
Current liabilities: | ||
Short-term loans | 20,000,000.00 | 20,000,000.00 |
Financial liabilities held for trading | ||
Derivative financial liabilities | ||
Notes payable | ||
Accounts payable | 136,188,091.63 | 176,663,766.15 |
Advance from customers | 323,500.00 | 64,999.97 |
Contract liabilities | 1,378,788,351.31 | 1,414,586,745.15 |
Employee benefits payable | 20,477,661.37 | 52,359,540.74 |
Taxes payable | 40,852,091.56 | 31,686,005.73 |
Other payables | 2,645,148.74 | 1,618,618.55 |
Thereof: Interest payable | ||
Dividend payable | ||
Liabilities held for sale | ||
Non-current liabilities due within one year | 29,251,450.24 | 14,364,107.49 |
Other current liabilities | 106,641,670.24 | 108,007,436.68 |
Total current liabilities | 1,735,167,965.09 | 1,819,351,220.46 |
Non-current liabilities: | ||
Long-term loans | 15,000,000.00 | |
Bonds payable | ||
Thereof: Preferred stock | ||
Perpetual debt | ||
Lease liabilities | 119,119.10 | |
Long-term payables | 6,000,000.00 | 6,168,966.21 |
Long-term employee benefits payable | ||
Estimated liabilities | ||
Deferred income | 11,440,879.78 | 12,464,554.00 |
Deferred income tax liability | 9,174,528.09 | 8,298,154.76 |
Other non-current liabilities | ||
Total non-current liabilities | 26,734,526.97 | 41,931,674.97 |
Total Liabilities | 1,761,902,492.06 | 1,861,282,895.43 |
Shareholders' equity: | ||
Share capital | 1,022,550,000.00 | 1,022,550,000.00 |
Other equity instruments | ||
Thereof: Preferred stock | ||
Perpetual debt | ||
Capital reserve | 154,755,282.47 | 154,755,282.47 |
Minus: treasury shares | ||
Other comprehensive income | 4,792,678.09 | 7,113,828.84 |
Special reserve | 23,708,597.81 | 22,797,522.14 |
Surplus reserve | 209,534,453.40 | 209,534,453.40 |
General risk reserve | ||
Retained earnings | 1,301,916,870.12 | 1,151,999,326.68 |
Total equity attributable to shareholders of parent company | 2,717,257,881.89 | 2,568,750,413.53 |
Minority shareholder equity | 141,175,281.96 | 146,776,859.65 |
Total shareholders' equity | 2,858,433,163.85 | 2,715,527,273.18 |
Total liabilities and shareholders' equity | 4,620,335,655.91 | 4,576,810,168.61 |
Legal representative: Deng XijunPerson in charge of accounting work: Sun Zhiqiang
Person in charge of Accounting Department: Wang Peihua
(2) Balance Sheet of Parent Company
Unit: RMB Yuan
Item | Mar 31 ,2021 | Dec 31, 2020 |
Current assets: | ||
Cash and cash equivalent | 5,696,589.45 | 20,668,974.65 |
Financial assets held for trading | 1,001,104,814.36 | 864,752,467.80 |
Derivative financial assets | ||
Notes receivable | 365,182,788.13 | 400,328,817.95 |
Accounts receivable | 654,872,962.23 | 618,994,281.14 |
Financing receivable | ||
Advance payment | 54,984,599.09 | 36,079,366.62 |
Other receivables | 10,263,238.08 | 8,618,285.70 |
Thereof: Interest receivable | ||
Dividend receivable | ||
Inventories | 1,225,037,966.70 | 1,259,018,020.07 |
Contract assets | ||
Assets held for sale | ||
Non-current assets due within one year | ||
Other current assets | 9,553,265.98 | 3,871,403.23 |
Total current assets | 3,326,696,224.02 | 3,212,331,617.16 |
Non-current assets: | ||
Debt investments | ||
Other debt investments | ||
Long-term receivable | ||
Long-term equity investment | 450,358,482.21 | 457,974,650.83 |
Investment in other equity instruments | 17,000,000.00 | 17,000,000.00 |
Other non-current financial assets | ||
Investment real estate | ||
Fixed assets | 166,797,383.59 | 168,164,460.66 |
Construction in progress | 4,099,390.68 | 4,099,390.68 |
Productive biological assets | ||
Oil and gas assets | ||
Right-of-use assets | ||
Intangible assets | 36,401,196.40 | 36,808,912.03 |
Development expenditure | ||
Goodwill | ||
Long-term deferred expenses | 6,416.02 | |
Deferred income tax assets | 23,011,069.00 | 24,074,930.72 |
Other non-current assets | ||
Total non-current assets | 697,667,521.88 | 708,128,760.94 |
Total assets | 4,024,363,745.90 | 3,920,460,378.10 |
Current liabilities: | ||
Short-term loans | ||
Financial liabilities held for trading | ||
Derivative financial liabilities | ||
Notes payable | ||
Accounts payable | 148,150,260.97 | 173,103,981.93 |
Advance from customers |
Contract liabilities | 1,057,491,731.06 | 1,063,847,810.82 |
Employee benefits payable | 14,196,236.47 | 41,357,068.35 |
Taxes payable | 36,977,599.11 | 24,889,780.41 |
Other payables | 3,860,723.71 | 3,381,907.20 |
Thereof: Interest payable | ||
Dividend payable | ||
Liabilities held for sale | ||
Non-current liabilities due within one year | ||
Other current liabilities | 92,928,060.30 | 96,654,652.84 |
Total current liabilities | 1,353,604,611.62 | 1,403,235,201.55 |
Non-current liabilities: | ||
Long-term loans | ||
Bonds payable | ||
Thereof: Preferred stock | ||
Perpetual debt | ||
Lease liabilities | ||
Long-term payables | 6,000,000.00 | 6,000,000.00 |
Long-term employee benefits payable | ||
Estimated liabilities | ||
Deferred income | 11,440,879.78 | 12,464,554.00 |
Deferred income tax liabilities | 6,263,819.18 | 5,387,156.24 |
Other non-current liabilities | ||
Total non-current liabilities | 23,704,698.96 | 23,851,710.24 |
Total Liabilities | 1,377,309,310.58 | 1,427,086,911.79 |
Shareholders' equity: | ||
Share capital | 1,022,550,000.00 | 1,022,550,000.00 |
Other equity instruments | ||
Thereof: Preferred stock | ||
Perpetual debt | ||
Capital reserve | 154,745,576.65 | 154,745,576.65 |
Minus: treasury shares | ||
Other comprehensive income | ||
Special reserve | 20,492,573.26 | 19,874,721.13 |
Surplus reserve | 209,534,453.40 | 209,534,453.40 |
Retained earnings | 1,239,731,832.01 | 1,086,668,715.13 |
Total shareholders' equity | 2,647,054,435.32 | 2,493,373,466.31 |
Total liabilities and shareholders' equity | 4,024,363,745.90 | 3,920,460,378.10 |
(3) Consolidated Income Statement
Unit: RMB Yuan
Item | Jan 1 to Mar 31, 2021 | Jan 1 to Mar 31, 2020 |
1. Total revenue | 546,281,751.47 | 486,509,069.88 |
Thereof : Operating revenue | 546,281,751.47 | 486,509,069.88 |
2. Total cost | 390,910,713.21 | 324,172,971.04 |
Thereof: Operating cost | 329,073,920.47 | 266,471,456.88 |
Taxes and surcharges | 3,215,878.17 | 3,214,906.99 |
Selling expenses | 16,890,482.47 | 19,066,807.73 |
General and administrative expenses | 24,597,082.34 | 21,563,331.27 |
Research and development expenses | 16,321,372.60 | 13,970,801.24 |
Financial expenses | 811,977.16 | -114,333.07 |
Thereof : Interest expenses | 344,479.07 | 413,937.31 |
Interest income | 35,314.93 | 57,628.25 |
Add: Other income | 24,924,414.47 | 4,003,633.49 |
Investment income (loss is stated with “-”) | -3,630,366.42 | -129,918.60 |
Thereof: Investment income from associates and joint ventures | -7,616,168.62 | -4,834,520.84 |
Gain from the derecognition of the financial assets measured at amortised cost | ||
Gains from changes in fair value (loss is stated with “-”) | 2,804,313.55 | 1,723,692.53 |
Credit impairment losses (loss is stated with “-”) | 3,731,390.95 | -1,677,495.39 |
Asset impairment losses (loss is stated with “-”) | -960,513.98 | -179,085.30 |
Gains from disposal of assets (loss is stated with “-”) | -16,983.16 | -11,934.67 |
3. Operating profit (loss is stated with “-”) | 182,223,293.67 | 166,064,990.90 |
Add: Non-operating income | 6,598.59 | |
Less: Non-operating expenses | 236.75 | 4,874.49 |
4. Total profit (loss is stated with “-”) | 182,223,056.92 | 166,066,715.00 |
Less: Income tax expenses | 28,554,160.54 | 28,160,389.28 |
5. Net profit (loss is stated with “-”) | 153,668,896.38 | 137,906,325.72 |
(1) Classified by continuity of operations | ||
Net profit from continuing operations(loss is stated with “-”) | 153,668,896.38 | 137,906,325.72 |
Net profit from discontinued operations(loss is stated with “-”) | ||
(2) Classified by ownership of the equity | ||
Attributable to shareholders of the Parent Company | 149,917,543.44 | 114,809,150.06 |
Minority interests | 3,751,352.94 | 23,097,175.66 |
6. Other comprehensive income, net of tax | -4,551,275.98 | 213,135.24 |
Other comprehensive income attributable to shareholders of the Parent Company, net of tax | -2,321,150.75 | 108,698.98 |
(1) Other comprehensive income items which will not be reclassified subsequently to profit or loss | ||
1) Changes arising from re-measurement of defined benefit plan | ||
2) Other comprehensive income that will not be transferred subsequently to profit or loss under the equity method | ||
3) Changes in the fair value of the investment in other equity instruments | ||
4)Changes in the fair value of the Company’s own credit risk | ||
5)Others | ||
(2) Other comprehensive income items which will be reclassified subsequently to profit or loss | -2,321,150.75 | 108,698.98 |
1) Other comprehensive income that will be transferred subsequently to profit or loss under the equity method | ||
2)Changes in the fair value of other debt investments | ||
3)Amount of financial assets reclassified and included in other comprehensive income | ||
4) Credit impairment reserves for other debt investment | ||
5) Cash flow hedging reserve | ||
6) Translation differences arising from translation of foreign currency financial statements | -2,321,150.75 | 108,698.98 |
7)Others | ||
Other comprehensive income attributable to minority shareholders, net of tax | -2,230,125.23 | 104,436.26 |
7. Total comprehensive income | 149,117,620.40 | 138,119,460.96 |
Attributable to shareholders of the Parent Company | 147,596,392.69 | 114,917,849.04 |
Minority interests | 1,521,227.71 | 23,201,611.92 |
8. Earnings per share | ||
(1) Basic earnings per share | 0.1466 | 0.1123 |
(2) Diluted earnings per share | 0.1466 | 0.1123 |
Legal representative: Deng XijunPerson in charge of accounting work: Sun ZhiqiangPerson in charge of Accounting Department: Wang Peihua
(4) Income Statement of Parent Company
Unit: RMB Yuan
Item | Jan 1 to Mar 31, 2021 | Jan 1 to Mar 31, 2020 |
1. Operating revenue | 468,377,841.37 | 370,867,783.06 |
Less: Operating cost | 281,649,728.14 | 214,612,398.65 |
Taxes and surcharges | 2,876,395.70 | 3,080,046.98 |
Selling expenses | 13,745,207.67 | 14,605,307.73 |
General and administrative expenses | 13,127,443.34 | 15,664,341.97 |
Research and development expenses | 11,301,992.31 | 12,037,742.43 |
Financial expenses | -334,312.05 | -39,465.35 |
Thereof: Interest expenses | ||
Interest income | 22,125.84 | 45,010.15 |
Add: Other income | 22,934,829.07 | 3,965,748.55 |
Investment income (loss is stated with “-”) | 3,805,298.49 | -665,827.64 |
Thereof: Investment income from associates and joint ventures | -7,616,168.62 | -4,834,520.84 |
Gain from the derecognition of the financial assets measured at amortised cost (loss is stated with “-”) | ||
Net exposure hedge income (loss is stated with “-“) | ||
Gains from changes in fair value (loss is stated with “-”) | 2,752,346.56 | 1,972,272.78 |
Credit impairment losses (loss is stated with “-”) | 3,762,644.87 | -2,209,515.29 |
Asset impairment losses (loss is stated with “-”) | -968,907.57 | -179,085.30 |
Gains from disposal of assets (loss is stated with “-”) | -16,983.16 | -11,934.67 |
2. Operating profit (loss is stated with “-”) | 178,280,614.52 | 113,779,069.08 |
Add: Non-operating income | 0.54 | |
Less: Non-operating expenses | 236.75 | 4,874.49 |
3. Total profit (loss is stated with “-”) | 178,280,377.77 | 113,774,195.13 |
Less: Income tax expenses | 25,217,260.89 | 16,983,865.80 |
4. Net profit (loss is stated with “-”) | 153,063,116.88 | 96,790,329.33 |
Net profit from continuing operations (loss is stated with “-”) | 153,063,116.88 | 96,790,329.33 |
Net profit from discontinued operations (loss is stated with “-”) | ||
5. Other comprehensive income, net of tax | ||
(1) Other comprehensive income items which will not be reclassified subsequently to profit or loss | ||
1) Changes arising from remeasurement of defined benefit plan | ||
2) Other comprehensive income that will not be transferred subsequently to profit or loss under the equity method | ||
3) Changes in the fair value of the investment in other equity instruments | ||
4)Changes in the fair value of the Company’s own credit risk | ||
5)Others |
(2) Other comprehensive income items which will be reclassified subsequently to profit or loss | ||
1) Other comprehensive income that will be transferred subsequently to profit or loss under the equity method | ||
2)Changes in the fair value of other debt investments | ||
3)Amount of financial assets reclassified and included in other comprehensive income | ||
4) Credit impairment reserves for other debt investment | ||
5) Cash flow hedging reserve | ||
6) Translation differences arising from translation of foreign currency financial statements | ||
7)Others | ||
6. Total comprehensive income | 153,063,116.88 | 96,790,329.33 |
7. Earnings per share | ||
(1) Basic earnings per share | ||
(2) Diluted earnings per share |
(5) Consolidated Cash Flow Statement
Unit: RMB Yuan
Item | Jan 1 to Mar 31, 2021 | Jan 1 to Mar 31, 2020 |
1. Cash flows from operating activities | ||
Cash received from sales of goods or rendering of services | 514,143,479.89 | 273,225,523.78 |
Refund of taxes and surcharges | 20,795,564.90 | 154,544.50 |
Other cash receipts relating to operating activities | 5,390,510.85 | 8,972,435.89 |
Sub-total of cash inflows from operating activities | 540,329,555.64 | 282,352,504.17 |
Cash paid for goods and services | 258,417,803.82 | 177,231,519.33 |
Cash paid to employees and paid on behalf of employees | 113,207,814.04 | 89,058,821.53 |
Payments of taxes and surcharges | 39,657,300.43 | 56,081,686.35 |
Other cash payments relating to operating activities | 22,170,593.56 | 31,149,529.00 |
Sub-total of cash outflows from operating activities | 433,453,511.85 | 353,521,556.21 |
Net cash flows from operating activities | 106,876,043.79 | -71,169,052.04 |
2. Cash flows from investing activities | ||
Cash received from withdrawing investments | 685,770,000.00 | 571,200,000.00 |
Cash received from investment income | 3,985,802.20 | 4,704,602.24 |
Net cash received from disposal of fixed assets, intangible assets and other long term assets | 12,368.08 | 60,980.54 |
Net cash received from disposal of subsidiaries and other operating units | ||
Other cash receipts relating to investing activities | ||
Sub-total of cash inflows from investing activities | 689,768,170.28 | 575,965,582.78 |
Cash paid to acquire fixed assets, intangible assets and other long-term assets | 7,434,881.12 | 2,734,707.57 |
Cash paid to acquire investments | 812,200,000.00 | 499,400,000.00 |
Net cash paid to acquire subsidiaries and other operating units | ||
Other cash payments relating to investing activities | ||
Sub-total of cash outflows from investing activities | 819,634,881.12 | 502,134,707.57 |
Net cash flows from investing activities | -129,866,710.84 | 73,830,875.21 |
3. Cash flows from financing activities | ||
Cash received from capital contributions | ||
Thereof: Cash received by subsidiaries from minority shareholders’ capital contributions | ||
Cash received from borrowings | 9,000,000.00 | 9,000,000.00 |
Other cash receipts from financing activities | ||
Sub-total of cash inflows from financing activities | 9,000,000.00 | 9,000,000.00 |
Cash repayments of borrowings | 9,000,000.00 | 9,100,520.01 |
Distribution of dividends or profits and payments for interest expenses | 7,834,483.79 | 399,010.98 |
Thereof: Cash payments for dividends or profit to minority shareholders by subsidiaries | 7,350,000.00 | |
Other cash payments relating to financing activities | 4,128.12 | 4,066.88 |
Sub-total of cash outflows from financing activities | 16,838,611.91 | 9,503,597.87 |
Net cash flows from financing activities | -7,838,611.91 | -503,597.87 |
4. Effect of foreign exchange rate changes on cash and cash equivalents | -1,801,957.60 | 50,291.09 |
5. Net increase in cash and cash equivalents | -32,631,236.56 | 2,208,516.39 |
Add: Cash and cash equivalents at the beginning of period | 113,464,591.58 | 143,725,028.13 |
6. Cash and cash equivalents at the end of period | 80,833,355.02 | 145,933,544.52 |
(6) Cash Flow Statement of Parent Company
Unit: RMB Yuan
Item | Jan 1 to Mar 31, 2021 | Jan 1 to Mar 31, 2020 |
1. Cash flows from operating activities | ||
Cash received from sales of goods or rendering of services | 445,133,303.42 | 198,997,812.30 |
Refund of taxes and surcharges | 19,733,802.38 | 154,544.50 |
Other cash receipts relating to operating activities | 3,728,275.01 | 8,677,762.22 |
Sub-total of cash inflows from operating activities | 468,595,380.81 | 207,830,119.02 |
Cash paid for goods and services | 203,647,770.85 | 129,082,072.59 |
Cash paid to employees and paid on behalf of employees | 96,764,377.63 | 73,339,769.29 |
Payments of taxes and surcharges | 31,423,606.10 | 48,043,975.51 |
Other cash payments relating to operating activities | 15,015,620.20 | 20,644,187.83 |
Sub-total of cash outflows from operating activities | 346,851,374.78 | 271,110,005.22 |
Net cash flows from operating activities | 121,744,006.03 | -63,279,886.20 |
2. Cash flows from investing activities | ||
Cash received from withdrawing investments | 611,600,000.00 | 512,770,000.00 |
Cash received from investment income | 11,453,247.93 | 4,432,391.83 |
Net cash received from disposal of fixed assets, intangible assets and other long term assets | 12,368.08 | 60,980.54 |
Net cash received from disposal of subsidiaries and other operating units | ||
Other cash receipts relating to investing activities | 1,000,000.00 | |
Sub-total of cash inflows from investing activities | 623,065,616.01 | 518,263,372.37 |
Cash paid to acquire fixed assets, intangible assets and other long-term assets | 6,581,807.47 | 1,917,942.31 |
Cash paid to acquire investments | 745,200,000.00 | 441,800,000.00 |
Net cash paid to acquire subsidiaries and other operating units | ||
Other cash payments relating to investing activities | 8,000,000.00 | |
Sub-total of cash outflows from investing activities | 759,781,807.47 | 443,717,942.31 |
Net cash flows from investing activities | -136,716,191.46 | 74,545,430.06 |
3. Cash flows from financing activities | ||
Cash received from capital contributions | ||
Cash received from borrowings | ||
Other cash receipts from financing activities | ||
Sub-total of cash inflows from financing activities |
Cash repayments of borrowings | ||
Distribution of dividends or profits and payments for interest expenses | ||
Other cash payments relating to financing activities | ||
Sub-total of cash outflows from financing activities | ||
Net cash flows from financing activities | ||
4. Effect of foreign exchange rate changes on cash and cash equivalents | -199.77 | -12,839.62 |
5. Net increase in cash and cash equivalents | -14,972,385.20 | 11,252,704.24 |
Add: Cash and cash equivalents at the beginning of period | 20,668,974.65 | 9,708,839.22 |
6. Cash and cash equivalents at the end of period | 5,696,589.45 | 20,961,543.46 |
2. Note to adjustments of the Financial Statements
(1). Adjustment of financial statements at the beginning of the year according to the implementation ofthe New Lease Standard for the first time from 2021
√Applicable □Not applicable
Whether it is necessary to adjust the balance sheet accounts for the beginning of the year or not.
√Yes □No
Consolidated Balance Sheet
Unit: RMB Yuan
Item | Dec 31, 2020 | Jan 1, 2021 | Adjustments |
Current assets: | |||
Cash and cash equivalent | 114,882,208.58 | 114,882,208.58 | |
Financial assets held for trading | 925,736,671.99 | 925,736,671.99 | |
Notes receivable | 451,042,158.41 | 451,042,158.41 | |
Accounts receivable | 697,718,969.34 | 697,718,969.34 | |
Advance payment | 49,361,424.98 | 49,361,424.98 | |
Other receivables | 12,814,291.13 | 12,814,291.13 | |
Inventories | 1,510,919,027.41 | 1,510,919,027.41 | |
Other current assets | 32,990,507.69 | 32,990,507.69 | |
Total current assets | 3,795,465,259.53 | 3,795,465,259.53 | |
Non-current assets: | |||
Long-term equity investment | 344,094,650.83 | 344,094,650.83 | |
Investment in other equity instruments | 35,000,000.00 | 35,000,000.00 | |
Investment real estate | 7,159,198.06 | 7,159,198.06 | |
Fixed assets | 235,572,771.55 | 234,309,738.79 | -1,263,032.76 |
Construction in progress | 4,099,390.68 | 4,099,390.68 | |
Right-of-use assets | 1,263,032.76 | 1,263,032.76 | |
Intangible assets | 62,601,735.18 | 62,601,735.18 | |
Goodwill | 63,225,965.69 | 63,225,965.69 | |
Long-term deferred expenses | 6,416.02 | 6,416.02 | |
Deferred income tax assets | 29,584,781.07 | 29,584,781.07 | |
Total non-current assets | 781,344,909.08 | 781,344,909.08 | |
Total assets | 4,576,810,168.61 | 4,576,810,168.61 | |
Current liabilities: | |||
Short-term loans | 20,000,000.00 | 20,000,000.00 | |
Accounts payable | 176,663,766.15 | 176,663,766.15 | |
Advance from customers | 64,999.97 | 64,999.97 | |
Contract liabilities | 1,414,586,745.15 | 1,414,586,745.15 | |
Employee benefits payable | 52,359,540.74 | 52,359,540.74 |
Taxes payable | 31,686,005.73 | 31,686,005.73 | |
Other payables | 1,618,618.55 | 1,618,618.55 | |
Non-current liabilities due within one year | 14,364,107.49 | 14,364,107.49 | |
Other current liabilities | 108,007,436.68 | 108,007,436.68 | |
Total current liabilities | 1,819,351,220.46 | 1,819,351,220.46 | |
Non-current liabilities: | |||
Long term loans | 15,000,000.00 | 15,000,000.00 | |
Lease liabilities | 168,966.21 | 168,966.21 | |
Long-term payables | 6,168,966.21 | 6,000,000.00 | -168,966.21 |
Deferred income | 12,464,554.00 | 12,464,554.00 | |
Deferred income tax liabilities | 8,298,154.76 | 8,298,154.76 | |
Total non-current liabilities | 41,931,674.97 | 41,931,674.97 | |
Total Liabilities | 1,861,282,895.43 | 1,861,282,895.43 | |
Shareholders ' equity: | |||
Share capital | 1,022,550,000.00 | 1,022,550,000.00 | |
Capital reserve | 154,755,282.47 | 154,755,282.47 | |
Other comprehensive income | 7,113,828.84 | 7,113,828.84 | |
Special reserve | 22,797,522.14 | 22,797,522.14 | |
Surplus reserve | 209,534,453.40 | 209,534,453.40 | |
Retained earnings | 1,151,999,326.68 | 1,151,999,326.68 | |
Total equity attributable to shareholders of parent company | 2,568,750,413.53 | 2,568,750,413.53 | |
Minority shareholder equity | 146,776,859.65 | 146,776,859.65 | |
Total shareholders' equity | 2,715,527,273.18 | 2,715,527,273.18 | |
Total liabilities and shareholders' equity | 4,576,810,168.61 | 4,576,810,168.61 |
Adjustments description: The Ministry of Finance of the People's Republic of China issued "AccountingStandards for Business Enterprises No. 21-Leases" (Accounting [2018] No. 35) on Dec 7, 2018. TheCompany implemented the New Lease Standards mentioned above from Jan 1, 2021. According to theconnecting regulations, based on the cumulative impact of the first implementation of the standards, thecompanies that implement the standard for the first time should adjust retained earnings and other relevantitems in the financial statements at the beginning of the year when the standard is first implemented, and noadjustments to the comparable period.
Balance Sheet of Parent Company
Unit: RMB Yuan
Item | Dec 31, 2020 | Jan 1, 2021 | Adjustments |
Current assets: | |||
Cash and cash equivalent | 20,668,974.65 | 20,668,974.65 | |
Financial assets held for trading | 864,752,467.80 | 864,752,467.80 | |
Notes receivable | 400,328,817.95 | 400,328,817.95 | |
Accounts receivable | 618,994,281.14 | 618,994,281.14 | |
Advance payment | 36,079,366.62 | 36,079,366.62 | |
Other receivables | 8,618,285.70 | 8,618,285.70 | |
Inventories | 1,259,018,020.07 | 1,259,018,020.07 | |
Other current assets | 3,871,403.23 | 3,871,403.23 | |
Total current assets | 3,212,331,617.16 | 3,212,331,617.16 | |
Non-current assets: | |||
Long-term equity investment | 457,974,650.83 | 457,974,650.83 | |
Investment in other equity instruments | 17,000,000.00 | 17,000,000.00 | |
Fixed assets | 168,164,460.66 | 168,164,460.66 |
Construction in progress | 4,099,390.68 | 4,099,390.68 | |
Intangible assets | 36,808,912.03 | 36,808,912.03 | |
Long-term deferred expenses | 6,416.02 | 6,416.02 | |
Deferred income tax asset | 24,074,930.72 | 24,074,930.72 | |
Total non-current assets | 708,128,760.94 | 708,128,760.94 | |
Total assets | 3,920,460,378.10 | 3,920,460,378.10 | |
Current liabilities: | |||
Accounts payable | 173,103,981.93 | 173,103,981.93 | |
Contract liabilities | 1,063,847,810.82 | 1,063,847,810.82 | |
Employee benefits payable | 41,357,068.35 | 41,357,068.35 | |
Taxes payable | 24,889,780.41 | 24,889,780.41 | |
Other payables | 3,381,907.20 | 3,381,907.20 | |
Other current liabilities | 96,654,652.84 | 96,654,652.84 | |
Total current liabilities | 1,403,235,201.55 | 1,403,235,201.55 | |
Non-current liabilities: | |||
Long-term payables | 6,000,000.00 | 6,000,000.00 | |
Deferred income | 12,464,554.00 | 12,464,554.00 | |
Deferred income tax liabilities | 5,387,156.24 | 5,387,156.24 | |
Total non-current liabilities | 23,851,710.24 | 23,851,710.24 | |
Total Liabilities | 1,427,086,911.79 | 1,427,086,911.79 | |
Shareholders' equity: | |||
Share capital | 1,022,550,000.00 | 1,022,550,000.00 | |
Capital reserve | 154,745,576.65 | 154,745,576.65 | |
Special reserve | 19,874,721.13 | 19,874,721.13 | |
Surplus reserve | 209,534,453.40 | 209,534,453.40 | |
Retained earnings | 1,086,668,715.13 | 1,086,668,715.13 | |
Total shareholders' equity | 2,493,373,466.31 | 2,493,373,466.31 | |
Total liabilities and shareholders' equity | 3,920,460,378.10 | 3,920,460,378.10 |
Adjustments description: The Ministry of Finance of the People's Republic of China issued "AccountingStandards for Business Enterprises No. 21-Leases" (Accounting [2018] No. 35) on Dec 7, 2018. TheCompany implemented the New Lease Standards mentioned above from Jan 1, 2021. According to theconnecting regulations, based on the cumulative impact of the first implementation of the standards, thecompanies that implement the standard for the first time should adjust retained earnings and other relevantitems in the financial statements at the beginning of the year when the standard is first implemented, and noadjustments to the comparable period.
(2). Explanation of the retrospective adjustment of the previous comparative data of the New LeaseStandard for the first time from 2021
□Applicable √Not applicable
3. Auditor’s report
Whether this Report has been audited by auditing firm or not.
□Yes √No
The Interim Report has not been audited by auditing firm.