SHENZHEN SPECIAL ECONOMIC ZONE REAL ESTATE
& PROPERTIES (GROUP) CO., LTD.FIRST QUARTERLY REPORT 2021
2021-015
April 2021
Part I Important NotesThe Board of Directors (or the “Board”), the Supervisory Committee as well as the directors,supervisors and senior management of ShenZhen Special Economic Zone Real Estate &Properties (Group) Co., Ltd. (hereinafter referred to as the “Company”) hereby guarantee thefactuality, accuracy and completeness of the contents of this Report and its summary, andshall be jointly and severally liable for any misrepresentations, misleading statements ormaterial omissions therein.All the Company’s directors have attended the Board meeting for the review of this Reportand its summary.Liu Zhengyu, chairman of the Company’s Board, Zhao Zhongliang, the Company’s ChiefFinancial Officer, and Qiao Yanjun, head of the Company’s financial department (equivalentto financial manager) hereby guarantee that the Financial Statements carried in this Reportare factual, accurate and complete.This Report and its summary have been prepared in both Chinese and English. Should therebe any discrepancies or misunderstandings between the two versions, the Chinese versionsshall prevail.
Part II Key Corporate Information
I Key Financial Information
Indicate by tick mark whether there is any retrospectively restated datum in the table below.
□ Yes √ No
| Q1 2021 | Q1 2020 | Change (%) | |
| Operating revenue (RMB) | 415,282,352.53 | 256,842,391.67 | 61.69% |
| Net profit attributable to the listed company’s shareholders (RMB) | 88,040,167.60 | 28,114,908.77 | 213.14% |
| Net profit attributable to the listed company’s shareholders before exceptional items (RMB) | 87,395,877.39 | 28,075,623.63 | 211.29% |
| Net cash generated from/used in operating activities (RMB) | 303,456,191.73 | -435,258,963.67 | 169.72% |
| Basic earnings per share (RMB/share) | 0.0870 | 0.0278 | 212.95% |
| Diluted earnings per share (RMB/share) | 0.0870 | 0.0278 | 212.95% |
| Weighted average return on equity (%) | 2.29% | 0.76% | 1.53% |
| 31 March 2021 | 31 December 2020 | Change (%) | |
| Total assets (RMB) | 5,155,621,819.61 | 4,936,916,746.74 | 4.43% |
| Equity attributable to the listed company’s shareholders (RMB) | 3,887,861,147.30 | 3,797,512,488.22 | 2.38% |
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) | -1,638.25 | |
| Non-operating income and expense other than the above | 860,691.86 | Primarily income from confiscate front money |
| Less: Income tax effects | 214,763.40 | |
| Total | 644,290.21 | -- |
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 Holdings of Top 10 Shareholders at 31 March 2021
1. Numbers of Ordinary Shareholders and Preferred Shareholders with Resumed Voting Rights as well asHoldings of Top 10 Shareholders
Unit: share
| Number of ordinary shareholders at the period-end | 67,088 | Number of preferred 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 | Restricted shares held | Shares in pledge or frozen | ||||||
| Status | Shares | ||||||||||
| Shenzhen Investment Holdings Co., Ltd. | State-owned corporation | 57.19% | 578,595,836 | ||||||||
| Shenzhen State-Owned Equity Operation and Management Co., Ltd. | Domestic non-state-owned legal person | 6.35% | 64,288,426 | ||||||||
| Hong Kong Securities Clearing Company Ltd. | Foreign legal person | 0.32% | 3,234,444 | ||||||||
| Lin Weirong | Domestic natural person | 0.28% | 2,859,500 | ||||||||
| Liang Weicheng | Domestic natural person | 0.19% | 1,934,000 | ||||||||
| Zhuhai Huaiyuan Fund Management Co., Ltd.-Huaiyuan Freedom Trail I Private Placement Fund | Other | 0.15% | 1,550,000 | ||||||||
| He Qiao | Domestic natural person | 0.15% | 1,519,100 | ||||||||
| Shenzhen Bao'an Songgang Huamei Industry Company | Domestic non-state-owned legal person | 0.14% | 1,430,396 | ||||||||
| Yang Shuilian | Domestic natural person | 0.14% | 1,411,000 | ||||||||
| Yang Jianmin | Domestic natural person | 0.14% | 1,393,800 | ||||||||
| Top 10 unrestricted shareholders | |||||||||||
| Name of shareholder | Unrestricted shares held | Shares by type | |||||||||
| Type | Shares | |||
| Shenzhen Investment Holdings Co., Ltd. | 578,595,836 | RMB-denominated ordinary stock | 578,595,836 | |
| Shenzhen State-Owned Equity Operation and Management Co., Ltd. | 64,288,426 | RMB-denominated ordinary stock | 64,288,426 | |
| Hong Kong Securities Clearing Company Ltd. | 3,234,444 | RMB-denominated ordinary stock | 3,234,444 | |
| Lin Weirong | 2,859,500 | RMB-denominated ordinary stock | 2,859,500 | |
| Liang Weicheng | 1,934,000 | RMB-denominated ordinary stock | 1,934,000 | |
| Zhuhai Huaiyuan Fund Management Co., Ltd.-Huaiyuan Freedom Trail I Private Placement Fund | 1,550,000 | RMB-denominated ordinary stock | 1,550,000 | |
| He Qiao | 1,519,100 | RMB-denominated ordinary stock | 1,519,100 | |
| Shenzhen Bao'an Songgang Huamei Industry Company | 1,430,396 | RMB-denominated ordinary stock | 1,430,396 | |
| Yang Shuilian | 1,411,000 | RMB-denominated ordinary stock | 1,411,000 | |
| Yang Jianmin | 1,393,800 | RMB-denominated ordinary stock | 1,393,800 | |
| Related or acting-in-concert parties among the shareholders above | Among the top 10 shareholders of the Company, Shenzhen State-Owned Equity Operation and Management Co., Ltd. is the wholly-owned subsidiary of Shenzhen Investment Holdings Co., Ltd. The Company does not know whether there exists related-party relationship among the other shareholders, or whether they are persons acting in concert as prescribed in the Administrative Measures for the Acquisition of Listed Companies. | |||
| Top 10 shareholders engaged in securities margin trading | Among the top 10 shareholders, the fourth shareholder holds 1,329,500 shares of the Company in his credit security account; the fifth shareholder holds 1,934,000 shares of the Company in his credit security account; the sixth shareholder holds 780,000 shares of the Company in its credit security account; the seventh shareholder holds | |||
Indicate by tick mark whether any of the top 10 ordinary shareholders or the top 10 unrestricted ordinary shareholders of theCompany conducted any promissory repo during the Reporting Period.
□ Yes √ No
No such cases in the Reporting Period.
2. Number of Preferred Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
Part III Significant EventsI Changes in Key Financial Statement Line Items and Explanation of why
√ Applicable □ Not applicable
Operating revenue rose 61.69% during Q1 2021 compared to Q1 2020, primarily driven by an increase in revenue recognized fromproperty sales.Contract liabilities rose 52.07% as at 31 March 2021 compared to 31 December 2020, primarily driven by an increase in the propertyunit sales.The gross profit and the net profit attributable to owners of the Company as the parent rose 192.21% and 213.14% respectivelyduring Q1 2021 compared to Q1 2020, primarily driven by an increase in revenue recognized from property sales.Net cash generated from operating activities rose 169.72% during Q1 2021 compared to Q1 2020, primarily driven by an increase insales revenue collected and a decrease in taxes and levies paid.II Progress, Influence and Solutions with regard to Significant Events
√ Applicable □ Not applicable
Pursuant to the requirements of the State Council regarding transferring some state-owned capital to replenish the social security fund,the Company’s controlling shareholder Shenzhen Investment Holdings Co., Ltd. (SIHC) decided in January 2021 to transfer,without no consideration required, its 64,288,426 unrestricted public A-stock ordinary shares (6.355% of the Company’s total sharecapital) to Shenzhen State Owned Equity Management Co., Ltd. (SSOEM) to replenish the social security fund. SSOEM is awholly-owned subsidiary set up by SIHC to implement special account management on the state-owned equity interests transferred.In March 2021, the ownership transfer formalities for the said shares were completed. The Company’s controlling shareholder andactual controller remain the same before and after the transfer.
| Summary of the significant event | Disclosure date | Index to the related announcement |
| The controlling shareholder transferring, with no consideration required, some state-owned equity interests in the Company to replenish the social security fund | 29 January 2021 | Reminder on the Controlling Shareholder Transferring, with No Consideration Required, Some State-Owned Equity Interests in the Company to Replenish the Social Security Fund (www.cninfo.com.cn) |
| 18 March 2021 | Announcement on the Completion of Ownership Transfer of Some State-Owned Equity Interests in the Company Transferred, with No Consideration Required, by the Controlling Shareholder to Replenish the Social Security Fund (www.cninfo.com.cn) |
Progress of any share repurchase:
□ Applicable √ Not applicable
Progress of any reduction of the repurchased shares through centralized bidding:
□ Applicable √ Not applicable
III Commitments that the Company’s Actual Controller, Shareholders, Related Parties,Acquirers, the Company Itself or Other Parties, Failed to Fulfill on Time during theReporting Period
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IV Financial Investments
1. Securities Investments
□ Applicable √ Not applicable
No such cases in the Reporting Period.
2. Investments in Derivative Financial Instruments
□ Applicable √ Not applicable
No such cases in the Reporting Period.V Progress of Projects Financed with Raised Funds
□ Applicable √ Not applicable
VI Operating Performance Forecast for January-June 2021
Warning of a forecast loss on or a forecast significant year-on-year change in the accumulative net profit from the beginning of theyear to the end of the next reporting period, as well as explanation of why:
√ Applicable □ Not applicable
Performance forecast: Increase in net profitType of forecast data: Interval data
| January-June 2021 | January-June 2020 | Change | ||||||
| Equity attributable to shareholders of the listed company (RMB’0,000) | 12,000 | -- | 15,000 | 9,727.50 | Up | 23.36% | -- | 54.20% |
| Basic earnings per share (RMB /share) | 0.1186 | -- | 0.1483 | 0.0962 | Up | 23.28% | -- | 54.16% |
| Note | The sales carryforwards of the Company’s real estate increased year on year. | |||||||
VII Significant Contracts Arising from the Company’s Ordinary Course of Business
□ Applicable √ Not applicable
VIII Cash Entrusted for Wealth Management
□ Applicable √ Not applicable
No such cases in the Reporting Period.IX Irregularities in the 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 any of Its RelatedParties for Non-Operating Purposes
□ Applicable √ Not applicable
No such cases in the Reporting Period.XI Communications with the Investment Community such as Researches, Inquiries andInterviews Received during the Reporting Period
√ Applicable □ Not applicable
| Date of communication | Place of communication | Way of communication | Type of communication party | Communication party | Main contents communicated and materials provided | Index to main information communicated |
| 7 January 2021 | The Company | By phone | Individual | Individual investor | Inquired of the future development plan of the Company, and didn’t offer written materials | N/A |
| 13 January 2021 | The Company | By phone | Individual | Individual investor | Inquired of project sales of the Company, and didn’t offer written materials | N/A |
| 22 January 2021 | The Company | By phone | Individual | Individual investor | Inquired of the land reserves and projects progress of the Company, and didn’t offer written materials | N/A |
| 25 January 2021 | The Company | By phone | Individual | Individual investor | Inquired of business situations and strategic planning of the Company, and didn’t offer written materials | N/A |
| 3 February 2021 | The Company | By phone | Individual | Individual investor | Inquired of the future development plan of the Company, and didn’t offer written materials | N/A |
| 26 February 2021 | The Company | By phone | Individual | Individual investor | Inquired of business situations and strategic planning of the Company, and didn’t offer written materials | N/A |
| 1 March 2021 | The | By phone | Individual | Individual | Inquired of business situations of the | N/A |
| Company | investor | Company, and did not offer written materials | ||||
| 2 March 2021 | The Company | By phone | Individual | Individual investor | Inquired of the land reserves and projects progress of the Company, and didn’t offer written materials | N/A |
| 18 March 2021 | The Company | By phone | Individual | Individual investor | Inquired of the future development plan of the Company, and didn’t offer written materials | N/A |
| 25 March 2021 | The Company | By phone | Individual | Individual investor | Inquired of business situations of the Company, and did not offer written materials | N/A |
| 30 March 2021 | The Company | By phone | Individual | Individual investor | Inquired of business situations and strategic planning of the Company, and didn’t offer written materials | N/A |
Part IV Financial StatementsI Financial Statements
1. Consolidated Balance Sheet
Prepared by ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Unit: RMB
| Item | 31 March 2021 | 31 December 2020 |
| Current assets: | ||
| Monetary assets | 2,990,693,266.36 | 2,687,465,070.01 |
| Settlement reserve | ||
| Interbank loans granted | ||
| Held-for-trading financial assets | ||
| Derivative financial assets | ||
| Notes receivable | 40,306,360.89 | 35,438,045.34 |
| Accounts receivable | 80,124,135.22 | 59,590,944.06 |
| Accounts receivable financing | ||
| Prepayments | 2,298,220.78 | 3,205,534.51 |
| Premiums receivable | ||
| Reinsurance receivables | ||
| Receivable reinsurance contract reserve | ||
| Other receivables | 18,503,652.00 | 32,745,043.84 |
| Including: Interest receivable | ||
| Dividends receivable | 1,052,192.76 | 1,052,192.76 |
| Financial assets purchased under resale agreements | ||
| Inventories | 1,140,718,564.95 | 1,220,464,112.56 |
| Contract assets | ||
| Assets held for sale | ||
| Current portion of non-current assets | ||
| Other current assets | 104,140,640.39 | 102,907,134.79 |
| Total current assets | 4,376,784,840.59 | 4,141,815,885.11 |
| Non-current assets: | ||
| Loans and advances to customers | ||
| Investments in debt obligations | ||
| Investments in other debt obligations | ||
| Long-term receivables | ||
| Long-term equity investments | 377,489.65 | 377,489.65 |
| Investments in other equity instruments | 37,249,564.08 | 37,510,860.51 |
| Other non-current financial assets | ||
| Investment property | 609,998,468.38 | 616,365,621.53 |
| Fixed assets | 27,314,005.99 | 28,039,978.43 |
| Construction in progress | ||
| Productive living assets | ||
| Oil and gas assets | ||
| Right-of-use assets | ||
| Intangible assets | ||
| Development costs | ||
| Goodwill | ||
| Long-term prepaid expense | 44,183.19 | 61,667.53 |
| Deferred income tax assets | 103,853,267.73 | 112,745,243.98 |
| Other non-current assets | ||
| Total non-current assets | 778,836,979.02 | 795,100,861.63 |
| Total assets | 5,155,621,819.61 | 4,936,916,746.74 |
| Current liabilities: | ||
| Short-term borrowings | 78,894,698.51 | 76,893,995.94 |
| Borrowings from the central bank | ||
| Interbank loans obtained | ||
| Held-for-trading financial liabilities | ||
| Derivative financial liabilities | ||
| Notes payable | ||
| Accounts payable | 133,747,600.44 | 176,926,614.28 |
| Advances from customers | 7,399,144.19 | 5,940,092.15 |
| Contract liabilities | 299,262,925.02 | 196,786,977.19 |
| Financial assets sold under repurchase agreements |
| Customer deposits and interbank deposits | ||
| Payables for acting trading of securities | ||
| Payables for underwriting of securities | ||
| Employee benefits payable | 48,584,158.63 | 60,467,834.09 |
| Taxes payable | 547,955,126.16 | 459,709,646.95 |
| Other payables | 258,727,312.13 | 277,105,129.74 |
| Including: Interest payable | 16,535,277.94 | 16,535,277.94 |
| Dividends payable | ||
| Handling charges and commissions payable | ||
| Reinsurance payables | ||
| Liabilities directly associated with assets held for sale | ||
| Current portion of non-current liabilities | ||
| Other current liabilities | 14,965,071.27 | 8,917,027.07 |
| Total current liabilities | 1,389,536,036.35 | 1,262,747,317.41 |
| Non-current liabilities: | ||
| Insurance contract reserve | ||
| Long-term borrowings | ||
| Bonds payable | ||
| Including: Preferred shares | ||
| Perpetual bonds | ||
| Lease liabilities | ||
| Long-term payables | 8,026,001.39 | 7,480,233.43 |
| Long-term employee benefits payable | ||
| Provisions | ||
| Deferred income | ||
| Deferred income tax liabilities | 9,601,940.74 | 9,601,940.74 |
| Other non-current liabilities | ||
| Total non-current liabilities | 17,627,942.13 | 17,082,174.17 |
| Total liabilities | 1,407,163,978.48 | 1,279,829,491.58 |
| Owners’ equity: | ||
| Share capital | 1,011,660,000.00 | 1,011,660,000.00 |
| Other equity instruments | ||
| Including: Preferred shares | ||
| Perpetual bonds | ||
| Capital reserves | 978,244,910.11 | 978,244,910.11 |
| Less: Treasury stock | ||
| Other comprehensive income | 30,471,541.61 | 28,163,050.13 |
| Specific reserve | ||
| Surplus reserves | 218,724,273.67 | 218,724,273.67 |
| General reserve | ||
| Retained earnings | 1,648,760,421.91 | 1,560,720,254.31 |
| Total equity attributable to owners of the Company as the parent | 3,887,861,147.30 | 3,797,512,488.22 |
| Non-controlling interests | -139,403,306.17 | -140,425,233.06 |
| Total owners’ equity | 3,748,457,841.13 | 3,657,087,255.16 |
| Total liabilities and owners’ equity | 5,155,621,819.61 | 4,936,916,746.74 |
Legal representative: Liu Zhengyu Head for financial affairs: Zhao ZhongliangHead of the financial department: Qiao Yanjun
2. Balance Sheet of the Company as the Parent
Unit: RMB
| Item | 31 March 2021 | 31 December 2020 |
| Current assets: | ||
| Monetary assets | 2,664,413,413.41 | 2,329,517,987.02 |
| Held-for-trading financial assets | ||
| Derivative financial assets | ||
| Notes receivable | ||
| Accounts receivable | 191,297.58 | 5,418,024.74 |
| Accounts receivable financing | ||
| Prepayments | 200,000.00 | 200,000.00 |
| Other receivables | 1,167,336,003.21 | 1,160,414,195.39 |
| Including: Interest receivable |
| Dividends receivable | ||
| Inventories | 141,153,617.27 | 207,606,220.98 |
| Contract assets | ||
| Assets held for sale | ||
| Current portion of non-current assets | ||
| Other current assets | 422,821.19 | 945,499.13 |
| Total current assets | 3,973,717,152.66 | 3,704,101,927.26 |
| Non-current assets: | ||
| Investments in debt obligations | ||
| Investments in other debt obligations | ||
| Long-term receivables | ||
| Long-term equity investments | 150,584,167.95 | 150,584,167.95 |
| Investments in other equity instruments | 13,640,095.62 | 13,508,202.32 |
| Other non-current financial assets | ||
| Investment property | 493,514,688.35 | 499,145,554.67 |
| Fixed assets | 17,145,766.23 | 17,743,083.73 |
| Construction in progress | ||
| Productive living assets | ||
| Oil and gas assets | ||
| Right-of-use assets | ||
| Intangible assets | ||
| Development costs | ||
| Goodwill | ||
| Long-term prepaid expense | 37,768.81 | 61,667.53 |
| Deferred income tax assets | 83,740,299.64 | 83,740,299.64 |
| Other non-current assets | ||
| Total non-current assets | 758,662,786.60 | 764,782,975.84 |
| Total assets | 4,732,379,939.26 | 4,468,884,903.10 |
| Current liabilities: | ||
| Short-term borrowings | ||
| Held-for-trading financial liabilities | ||
| Derivative financial liabilities | ||
| Notes payable |
| Accounts payable | 75,970,645.40 | 77,187,914.50 |
| Advances from customers | ||
| Contract liabilities | 257,016,604.17 | 172,241,938.46 |
| Employee benefits payable | 26,036,707.53 | 27,255,860.05 |
| Taxes payable | 538,495,235.70 | 450,281,265.17 |
| Other payables | 185,479,244.80 | 194,609,459.87 |
| Including: Interest payable | 16,535,277.94 | 16,535,277.94 |
| Dividends payable | ||
| Liabilities directly associated with assets held for sale | ||
| Current portion of non-current liabilities | ||
| Other current liabilities | 12,850,830.21 | 8,612,096.92 |
| Total current liabilities | 1,095,849,267.81 | 930,188,534.97 |
| Non-current liabilities: | ||
| Long-term borrowings | ||
| Bonds payable | ||
| Including: Preferred shares | ||
| Perpetual bonds | ||
| Lease liabilities | ||
| Long-term payables | ||
| Long-term employee benefits payable | ||
| Provisions | ||
| Deferred income | ||
| Deferred income tax liabilities | 4,812,392.47 | 4,812,392.47 |
| Other non-current liabilities | ||
| Total non-current liabilities | 4,812,392.47 | 4,812,392.47 |
| Total liabilities | 1,100,661,660.28 | 935,000,927.44 |
| Owners’ equity: | ||
| Share capital | 1,011,660,000.00 | 1,011,660,000.00 |
| Other equity instruments | ||
| Including: Preferred shares | ||
| Perpetual bonds | ||
| Capital reserves | 964,711,931.13 | 964,711,931.13 |
| Less: Treasury stock | ||
| Other comprehensive income | 1,263,045.04 | 1,131,151.74 |
| Specific reserve | ||
| Surplus reserves | 195,594,660.26 | 195,594,660.26 |
| Retained earnings | 1,458,488,642.55 | 1,360,786,232.53 |
| Total owners’ equity | 3,631,718,278.98 | 3,533,883,975.66 |
| Total liabilities and owners’ equity | 4,732,379,939.26 | 4,468,884,903.10 |
3. Consolidated Income Statement
Unit: RMB
| Item | Q1 2021 | Q1 2020 |
| 1. Revenue | 415,282,352.53 | 256,842,391.67 |
| Including: Operating revenue | 415,282,352.53 | 256,842,391.67 |
| Interest income | ||
| Insurance premium income | ||
| Handling charge and commission income | ||
| 2. Costs and expenses | 297,519,627.24 | 216,220,676.90 |
| Including: Cost of sales | 183,741,767.38 | 165,557,827.24 |
| Interest expense | ||
| Handling charge and commission expense | ||
| Surrenders | ||
| Net insurance claims paid | ||
| Net amount provided as insurance contract reserve | ||
| Expenditure on policy dividends | ||
| Reinsurance premium expense | ||
| Taxes and surcharges | 95,365,107.93 | 34,413,593.98 |
| Selling expense | 3,714,962.78 | 3,479,194.67 |
| Administrative expense | 18,464,662.11 | 15,804,366.15 |
| R&D expense | ||
| Finance costs | -3,766,872.96 | -3,034,305.14 |
| Including: Interest expense | ||
| Interest income | 4,206,960.54 | 2,928,449.72 |
| Add: Other income | 341,986.50 | 238,643.87 |
| Return on investment (“-” for loss) |
| Including: Share of profit or loss of joint ventures and associates | ||
| Income from the derecognition of financial assets at amortized cost (“-” for loss) | ||
| Exchange gain (“-” for loss) | ||
| Net gain on exposure hedges (“-” for loss) | ||
| Gain on changes in fair value (“-” for loss) | ||
| Credit impairment loss (“-” for loss) | 586,866.00 | |
| Asset impairment loss (“-” for loss) | ||
| Asset disposal income (“-” for loss) | ||
| 3. Operating profit (“-” for loss) | 118,691,577.79 | 40,860,358.64 |
| Add: Non-operating income | 881,138.94 | 662,480.93 |
| Less: Non-operating expense | 22,085.33 | 610,100.74 |
| 4. Profit before tax (“-” for loss) | 119,550,631.40 | 40,912,738.83 |
| Less: Income tax expense | 31,589,874.59 | 12,764,075.66 |
| 5. Net profit (“-” for net loss) | 87,960,756.81 | 28,148,663.17 |
| 5.1 By operating continuity | ||
| 5.1.1 Net profit from continuing operations (“-” for net loss) | 87,960,756.81 | 28,148,663.17 |
| 5.1.2 Net profit from discontinued operations (“-” for net loss) | ||
| 5.2 By ownership | ||
| 5.2.1 Net profit attributable to owners of the Company as the parent | 88,040,167.60 | 28,114,908.77 |
| 5.2.2 Net profit attributable to non-controlling interests | -79,410.79 | 33,754.40 |
| 6. Other comprehensive income, net of tax | 3,671,125.59 | 885,903.04 |
| Attributable to owners of the Company as the parent | 2,308,491.48 | 549,303.82 |
| 6.1 Items that will not be reclassified to profit or loss | -261,296.43 | -236,094.35 |
| 6.1.1 Changes caused by remeasurements on defined benefit schemes | ||
| 6.1.2 Other comprehensive income that will not be reclassified to profit or loss under the equity method | ||
| 6.1.3 Changes in the fair value of investments in other equity instruments | -261,296.43 | -236,094.35 |
| 6.1.4 Changes in the fair value arising from changes in own credit risk | ||
| 6.1.5 Other |
| 6.2 Items that will be reclassified to profit or loss | 2,569,787.91 | 785,398.17 |
| 6.2.1 Other comprehensive income that will be reclassified to profit or loss under the equity method | ||
| 6.2.2 Changes in the fair value of investments in other debt obligations | ||
| 6.2.3 Other comprehensive income arising from the reclassification of financial assets | ||
| 6.2.4 Credit impairment allowance for investments in other debt obligations | ||
| 6.2.5 Reserve for cash flow hedges | ||
| 6.2.6 Differences arising from the translation of foreign currency-denominated financial statements | 2,569,787.91 | 785,398.17 |
| 6.2.7 Other | ||
| Attributable to non-controlling interests | 1,362,634.11 | 336,599.22 |
| 7. Total comprehensive income | 91,631,882.40 | 29,034,566.21 |
| Attributable to owners of the Company as the parent | 90,609,955.51 | 28,664,212.59 |
| Attributable to non-controlling interests | 1,021,926.89 | 370,353.62 |
| 8. Earnings per share | ||
| 8.1 Basic earnings per share | 0.0870 | 0.0278 |
| 8.2 Diluted earnings per share | 0.0870 | 0.0278 |
Where business combinations under common control occurred in the current period, the net profit achieved by the acquirees beforethe combinations was RMB0.00, with the amount for last year being RMB0.00.Legal representative: Liu Zhengyu Head for financial affairs: Zhao ZhongliangHead of the financial department: Qiao Yanjun
4. Income Statement of the Company as the Parent
Unit: RMB
| Item | Q1 2021 | Q1 2020 |
| 1. Operating revenue | 296,012,899.84 | 83,770,856.13 |
| Less: Cost of sales | 73,071,501.55 | 25,213,820.41 |
| Taxes and surcharges | 92,606,628.47 | 23,716,419.18 |
| Selling expense | 864,810.73 | 747,374.05 |
| Administrative expense | 10,117,047.60 | 8,557,010.42 |
| R&D expense |
| Finance costs | -9,263,896.16 | -11,823,080.33 |
| Including: Interest expense | ||
| Interest income | ||
| Add: Other income | 4,233.12 | 22,591.96 |
| Return on investment (“-” for loss) | ||
| Including: Share of profit or loss of joint ventures and associates | ||
| Income from the derecognition of financial assets at amortized cost (“-” for loss) | ||
| Net gain on exposure hedges (“-” for loss) | ||
| Gain on changes in fair value (“-” for loss) | ||
| Credit impairment loss (“-” for loss) | 586,866.00 | |
| Asset impairment loss (“-” for loss) | ||
| Asset disposal income (“-” for loss) | ||
| 2. Operating profit (“-” for loss) | 129,207,906.77 | 37,381,904.36 |
| Add: Non-operating income | 874,987.63 | 100,000.00 |
| Less: Non-operating expense | 500,000.00 | |
| 3. Profit before tax (“-” for loss) | 130,082,894.40 | 36,981,904.36 |
| Less: Income tax expense | 32,380,484.38 | 9,261,731.70 |
| 4. Net profit (“-” for net loss) | 97,702,410.02 | 27,720,172.66 |
| 4.1 Net profit from continuing operations (“-” for net loss) | 97,702,410.02 | 27,720,172.66 |
| 4.2 Net profit from discontinued operations (“-” for net loss) | ||
| 5. Other comprehensive income, net of tax | 131,893.30 | 166,630.34 |
| 5.1 Items that will not be reclassified to profit or loss | 131,893.30 | 166,630.34 |
| 5.1.1 Changes caused by remeasurements on defined benefit schemes | ||
| 5.1.2 Other comprehensive income that will not be reclassified to profit or loss under the equity method | ||
| 5.1.3 Changes in the fair value of investments in other equity instruments | 131,893.30 | 166,630.34 |
| 5.1.4 Changes in the fair value arising from changes in own credit risk | ||
| 5.1.5 Other | ||
| 5.2 Items that will be reclassified to profit or loss | ||
| 5.2.1 Other comprehensive income that will be reclassified to profit or loss under the equity method | ||
| 5.2.2 Changes in the fair value of investments in other debt obligations | ||
| 5.2.3 Other comprehensive income arising from the reclassification of financial assets |
| 5.2.4 Credit impairment allowance for investments in other debt obligations | ||
| 5.2.5 Reserve for cash flow hedges | ||
| 5.2.6 Differences arising from the translation of foreign currency-denominated financial statements | ||
| 5.2.7 Other | ||
| 6. Total comprehensive income | 97,834,303.32 | 27,886,803.00 |
| 7. Earnings per share | ||
| 7.1 Basic earnings per share | ||
| 7.2 Diluted earnings per share |
5. Consolidated Cash Flow Statement
Unit: RMB
| Item | Q1 2021 | Q1 2020 |
| 1. Cash flows from operating activities: | ||
| Proceeds from sale of commodities and rendering of services | 560,507,403.05 | 261,043,476.47 |
| Net increase in customer deposits and interbank deposits | ||
| Net increase in borrowings from the central bank | ||
| Net increase in loans from other financial institutions | ||
| Premiums received on original insurance contracts | ||
| Net proceeds from reinsurance | ||
| Net increase in deposits and investments of policy holders | ||
| Interest, handling charges and commissions received | ||
| Net increase in interbank loans obtained | ||
| Net increase in proceeds from repurchase transactions | ||
| Net proceeds from acting trading of securities | ||
| Tax rebates | ||
| Cash generated from other operating activities | 20,892,855.06 | 29,955,959.84 |
| Subtotal of cash generated from operating activities | 581,400,258.11 | 290,999,436.31 |
| Payments for commodities and services | 72,720,627.25 | 97,053,822.51 |
| Net increase in loans and advances to customers | ||
| Net increase in deposits in the central bank and in interbank loans granted | ||
| Payments for claims on original insurance contracts | ||
| Net increase in interbank loans granted |
| Interest, handling charges and commissions paid | ||
| Policy dividends paid | ||
| Cash paid to and for employees | 44,057,215.25 | 43,783,011.73 |
| Taxes paid | 80,204,553.44 | 499,313,151.21 |
| Cash used in other operating activities | 80,961,670.44 | 86,108,414.53 |
| Subtotal of cash used in operating activities | 277,944,066.38 | 726,258,399.98 |
| Net cash generated from/used in operating activities | 303,456,191.73 | -435,258,963.67 |
| 2. Cash flows from investing activities: | ||
| Proceeds from disinvestment | ||
| Return on investment | ||
| Net proceeds from the disposal of fixed assets, intangible assets and other long-lived assets | 1,000.00 | |
| Net proceeds from the disposal of subsidiaries and other business units | ||
| Cash generated from other investing activities | ||
| Subtotal of cash generated from investing activities | 1,000.00 | |
| Payments for the acquisition of fixed assets, intangible assets and other long-lived assets | 182,616.13 | 28,007.52 |
| Payments for investments | ||
| Net increase in pledged loans granted | ||
| Net payments for the acquisition of subsidiaries and other business units | ||
| Cash used in other investing activities | ||
| Subtotal of cash used in investing activities | 182,616.13 | 28,007.52 |
| Net cash generated from/used in investing activities | -182,616.13 | -27,007.52 |
| 3. Cash flows from financing activities: | ||
| Capital contributions received | ||
| Including: Capital contributions by non-controlling interests to subsidiaries | ||
| Borrowings raised | ||
| Cash generated from other financing activities | ||
| Subtotal of cash generated from financing activities | ||
| Repayment of borrowings | ||
| Interest and dividends paid | ||
| Including: Dividends paid by subsidiaries to non-controlling interests |
| Cash used in other financing activities | ||
| Subtotal of cash used in financing activities | ||
| Net cash generated from/used in financing activities | ||
| 4. Effect of foreign exchange rates changes on cash and cash equivalents | -45,379.25 | 126,842.30 |
| 5. Net increase in cash and cash equivalents | 303,228,196.35 | -435,159,128.89 |
| Add: Cash and cash equivalents, beginning of the period | 2,669,103,926.82 | 1,507,189,760.35 |
| 6. Cash and cash equivalents, end of the period | 2,972,332,123.17 | 1,072,030,631.46 |
6. Cash Flow Statement of the Company as the Parent
Unit: RMB
| Item | Q1 2021 | Q1 2020 |
| 1. Cash flows from operating activities: | ||
| Proceeds from sale of commodities and rendering of services | 406,092,125.30 | 76,737,396.13 |
| Tax rebates | ||
| Cash generated from other operating activities | 3,998,738.95 | 3,015,470.24 |
| Subtotal of cash generated from operating activities | 410,090,864.25 | 79,752,866.37 |
| Payments for commodities and services | 1,449,991.73 | 8,991,236.23 |
| Cash paid to and for employees | 10,685,559.65 | 9,672,170.29 |
| Taxes paid | 51,742,417.93 | 45,295,329.10 |
| Cash used in other operating activities | 11,279,062.55 | 262,405,440.61 |
| Subtotal of cash used in operating activities | 75,157,031.86 | 326,364,176.23 |
| Net cash generated from/used in operating activities | 334,933,832.39 | -246,611,309.86 |
| 2. Cash flows from investing activities: | ||
| Proceeds from disinvestment | ||
| Return on investment | ||
| Net proceeds from the disposal of fixed assets, intangible assets and other long-lived assets | ||
| Net proceeds from the disposal of subsidiaries and other business units | ||
| Cash generated from other investing activities | ||
| Subtotal of cash generated from investing activities | ||
| Payments for the acquisition of fixed assets, intangible assets and other long-lived assets | 38,406.00 | 26,150.00 |
| Payments for investments |
| Net payments for the acquisition of subsidiaries and other business units | ||
| Cash used in other investing activities | ||
| Subtotal of cash used in investing activities | 38,406.00 | 26,150.00 |
| Net cash generated from/used in investing activities | -38,406.00 | -26,150.00 |
| 3. Cash flows from financing activities: | ||
| Capital contributions received | ||
| Borrowings raised | ||
| Cash generated from other financing activities | ||
| Subtotal of cash generated from financing activities | ||
| Repayment of borrowings | ||
| Interest and dividends paid | ||
| Cash used in other financing activities | ||
| Subtotal of cash used in financing activities | ||
| Net cash generated from/used in financing activities | ||
| 4. Effect of foreign exchange rates changes on cash and cash equivalents | ||
| 5. Net increase in cash and cash equivalents | 334,895,426.39 | -246,637,459.86 |
| Add: Cash and cash equivalents, beginning of the period | 2,311,776,619.47 | 963,737,437.55 |
| 6. Cash and cash equivalents, end of the period | 2,646,672,045.86 | 717,099,977.69 |
II Adjustments to the Financial Statements
1. Adjustments to the Financial Statements at the Beginning of the First Execution Year of the NewStandards Governing Leases from 2021
√ Applicable □ Not applicable
Whether items of the balance sheets at the beginning of the year need adjustments
□ Yes √ No
Notes to no adjustmentsThe leasing business of the Company is mainly renting business, all of which is operating leases without financing leases. The firstexecution of the new standards governing leases does not involve retroactive adjustment of previous years, nor does it need to adjustthe items of the balance sheets at the beginning of the year.
2. Retrospective Restatement of Previous Comparative Data due to the First Execution of the NewStandards Governing Leases from 2021
□ Applicable √ Not applicable
III Independent Auditor’s ReportIndicate by tick mark whether the financial statements above have been audited by an independent auditor.
□ Yes √ No
These financial statements have not been audited by such an auditor.