Hangzhou Robam Appliances Co., Ltd.
2021 First Quarterly Report
April 2021
Chapter 1 Important NotesThe board of directors, the board of supervisors and directors, supervisors and seniormanagement of the Company hereby guarantee that no false or misleading statement ormajor omission was made to the materials in this report and that they will assume all theresponsibility, individually and jointly, for the authenticity, accuracy and completeness of thecontents of the quarterly report.All the directors attended the board meeting during which they reviewed this QuarterlyReport.Ren Jianhua, the head of the Company, Zhang Guofu, the head of accounting work, andZhang Guofu, the head of the accounting body (the accountant in charge) , guarantee theauthenticity, accuracy and completeness of the financial report in the quarterly report.
Chapter 2 Company ProfileI. Key Accounting Data and Financial Indicators
Whether the Company needs to retroactively adjust or restate the accounting data of the previous years
□ Yes √ No
| Reporting period | Corresponding period of last year | Increase/decrease this year compared to the previous year | |
| Operating income (yuan) | 1,908,332,042.49 | 1,265,689,550.31 | 50.77% |
| Net profits attributable to shareholders of listed companies (yuan) | 358,828,585.88 | 245,010,424.02 | 46.45% |
| Net profits attributable to shareholders of the listed company after deduction of non-recurring profits and losses (yuan) | 321,817,120.06 | 189,293,064.42 | 70.01% |
| Net cash flow from operating activities (yuan) | 145,798,650.84 | -244,718,331.36 | / |
| Basic EPS (yuan/share) | 0.38 | 0.26 | 46.15% |
| Diluted EPS (yuan/share) | 0.38 | 0.26 | 46.15% |
| Weighted average return on net assets | 4.36% | 3.51% | 0.85% |
| End of the reporting period | End of previous year | Increase/decrease at the end of this reporting period compared to the end of the previous year | |
| Total assets (yuan) | 12,657,772,626.80 | 12,457,568,276.25 | 1.61% |
| Net assets attributable to shareholders of listed companies (yuan) | 8,409,455,401.23 | 8,050,626,815.35 | 4.46% |
Items and Amounts of Non-recurring Gains and Losses
√Applicable □ Not applicable
Unit: yuan
| Item | Amount changes from the beginning of the year to the end of the reporting period | Description |
| Profits and losses on the disposal of non-current assets (including the write-off part of the provision for asset impairment) | -1,831,792.95 | |
| Government subsidies included into the current profits and | 47,513,900.41 |
| losses, except those government subsidies, which are closely related to the business of a company and enjoyed in accordance with a certain standard quota or quantity of the state | ||
| Income and expenditure other than those mentioned above | -2,570,323.63 | |
| Less: Amount affected by income tax | 6,737,205.70 | |
| Amount of minority shareholders' equity affected (after tax) | -636,887.69 | |
| Total | 37,011,465.82 | -- |
Explain the non-recurrent profit and loss items defined by the Company according to the Interpretative Announcement No. 1 onInformation Disclosure of Public Securities Issuing Companies - Non-recurrent Profits and Losses and defined from thenon-recurrent profit and loss items enumerated in the Interpretative Announcement No. 1 on Information Disclosure of PublicSecurities Issuing Companies - Non-recurrent Profits and Losses
□ Applicable √ Not applicable
No definition of non-recurrent profit and loss items defined and enumerated in the Interpretative Announcement No. 1 on InformationDisclosure of Public Securities Issuing Companies - Non-recurrent Profits and Losses as non-recurrent profit and loss items duringthe reporting period.II. Total Number of Shareholders and Shareholdings of the Top Ten Shareholders at the Endof the Reporting Period
1. Total number of common shareholders and preferred shareholders with the voting rights recovered, andshareholding of the top 10 shareholders
Unit: share
| Total number of common shareholders at the end of the reporting period | 75,073 | Total number of preferred shareholders with the voting rights recovered at the end of reporting period (if any) | 0 | ||||
| Shareholding of the top 10 shareholders | |||||||
| Shareholder's name | Shareholder nature | Shareholding ratio | Number of shares | Number of shares held with limited sales conditions | Pledge or freeze | ||
| Status of shares | Quantity | ||||||
| Hangzhou Robam Industrial Group Co., Ltd. | Domestic non-state legal person | 49.68% | 471,510,000 | ||||
| Hong Kong Securities Clearing Co. Ltd. | Overseas legal person | 12.89% | 122,354,048 | ||||
| Shen Guoying | Domestic natural person | 1.29% | 12,240,000 | ||||
| China Life Insurance Company Co., Ltd - Traditional - General Insurance Products | Other | 1.01% | 9,632,407 | |||
| Hangzhou Jinchuang Investment Co., Ltd. | Domestic non-state legal person | 1.00% | 9,451,985 | |||
| TEMASEK FULLERTON ALPHA PTE LTD | Overseas legal person | 0.96% | 9,066,498 | |||
| Norges Bank - equity fund | Overseas legal person | 0.94% | 8,960,259 | |||
| China Resources Szitic Trust Co.,Ltd. - China Resources Trust · Kuan Yuan Value Renaissance Securities Investment Collect Fund Trust Plan | Other | 0.71% | 6,700,000 | |||
| Hangzhou Yinchuang Investment Co., Ltd. | Domestic non-state legal person | 0.67% | 6,318,000 | |||
| China Life Insurance Company Co., Ltd - Traditional - General Insurance Products | Other | 0.66% | 6,299,776 | |||
| Shareholding of top 10 shareholders with unlimited sales conditions | ||||||
| Shareholder's name | Number of shares held not subject to sales restrictions | Type of share | ||||
| Type of share | Quantity | |||||
| Hangzhou Robam Industrial Group Co., Ltd. | 471,510,000 | Common stock in RMB | 471,510,000 | |||
| Hong Kong Securities Clearing Co. Ltd. | 122,354,048 | Common stock in RMB | 122,354,048 | |||
| Shen Guoying | 12,240,000 | Common stock in RMB | 12,240,000 | |||
| China Life Insurance Company Co., Ltd - Traditional - General Insurance Products | 9,632,407 | Common stock in RMB | 9,632,407 | |||
| Hangzhou Jinchuang Investment Co., Ltd. | 9,451,985 | Common stock in RMB | 9,451,985 | |||
| TEMASEK FULLERTON ALPHA PTE LTD | 9,066,498 | Common stock in RMB | 9,066,498 | |||
| Norges Bank - equity fund | 8,960,259 | Common stock in RMB | 8,960,259 |
| China Resources Szitic Trust Co.,Ltd. - China Resources Trust · Kuan Yuan Value Renaissance Securities Investment Collect Fund Trust Plan | 6,700,000 | Common stock in RMB | 6,700,000 |
| Hangzhou Yinchuang Investment Co., Ltd. | 6,318,000 | Common stock in RMB | 6,318,000 |
| China Life Insurance Company Co., Ltd - Traditional - General Insurance Products | 6,299,776 | Common stock in RMB | 6,299,776 |
| Description of the associated relationship or consistent actions of the above shareholders | The actual controller of the Company’s controlling shareholder Hangzhou Robam Industrial Group Co., Ltd. and the shareholder Hangzhou Jinchuang Investment Co., Ltd. is Mr. Ren Jianhua, and the natural person shareholder Shen Guoying is the wife of Ren Jianhua. The above shareholders have the possibility of acting in unison. | ||
| Description of the top 10 shareholders engaging in securities margin trading (if any) | N/A | ||
Whether the Company’s top 10 common shareholders and op 10 common shareholders with unlimited sales conditions agreed on arepurchase transaction during the reporting period
□ Yes √ No
The Company’s top 10 common shareholders and op 10 common shareholders with unlimited sales conditions did not agree on arepurchase transaction during the reporting period
2. Total number of the Company’s preferred shareholders and shareholding of the top 10 preferredshareholders
□ Applicable √ Not applicable
Chapter 3 Significant MattersI. Cases and causes for the change in Major Financial Data and Financial Indicators duringthe Reporting Period
√Applicable □ Not applicable
1. Balance sheet items
At the end of the reporting period, accounts receivable decreased by 38.42% as compared with that at the beginning of the year,which was mainly caused by the retrieve of receivables.At the end of the reporting period, prepayments increased by 62.40 % as compared with that at the beginning of the year, which wasmainly caused by the increase in prepayments for the purchase of raw materials.At the end of the reporting period, the deferred income tax assets increased by 46.81 % as compared with that at the beginning of theyear, which was mainly caused by the temporary differences arising from prepaid sales expenses.At the end of the reporting period, the payroll payable decreased by 86.29% as compared with that at the beginning of the year,which was mainly caused by the payment of employee salaries and bonuses last year.
2. Income statement items
Benefiting from good control of the epidemic, the operating conditions of various categories and channels in the reporting period ofthe Company have been greatly improved as compared with that in the same period of previous year.Operating income increased by 50.77% and net profit attributable to the parent company increased by 46.45% as compared with thatin the same period of previous year; Operating costs, selling expenses, administrative expenses, etc., increased accordingly ascompared with that in the same period of previous year.
3. Cash flow statement items
Net cash flows from investment activities decreased by 34.21% as compared with that in the same period of the previous year, whichwas mainly caused by the increase in the amount purchased from bank wealth management products.
II. Progress and Influence of Significant Matters, and the Analysis and Explanation onSolutions
□ Applicable √ Not applicable
Implementation progress of share repurchase
□ Applicable √ Not applicable
Implementation progress of reducing repurchased shares by centralized competitive bidding
□ Applicable √ Not applicable
III. Commitments not Fully Fulfilled by the Company’s Actual Controllers, Shareholders,Affiliates, Acquirers and Other Commitment Parties During the Reporting Period
□ Applicable √ Not applicable
During the reporting period, there were no commitments not fully fulfilled by the Company’s actual controllers, shareholders,affiliates, acquirers and other commitment parties during the reporting period.IV. Financial Asset Investment
1. Securities investment
□ Applicable √ Not applicable
The Company had no securities investments in the reporting period.
2. Derivative investment
□ Applicable √ Not applicable
The Company had no derivative investments in the reporting period.V. Progress of Investment Projects Funded by Raised Funds
□ Applicable √ Not applicable
VI. Prediction of Operating Results in January - June 2021Warnings and reasons for the prediction of the potential losses in the accumulated net profit from the beginning of the year to the endof the next reporting period or significant changes as compared with that in the same period of the previous year
□ Applicable √ Not applicable
VII. Material Contracts for Daily Operations
□ Applicable √ Not applicable
VIII. Entrusted Financial Management
√Applicable □ Not applicable
Unit: 10,000 yuan
| Specific type | Source of funds for entrusted financing | Amount incurred in entrusted financing | Outstanding balance | Overdue amount not recovered |
| Bank financial products | Owned fund | 50,000 | 222,500 | 0 |
| Total | 50,000 | 222,500 | 0 | |
Specific circumstance of high-risk entrusted financing with significant single amount or with low security, poor liquidity and notbreak-even
□ Applicable √ Not applicable
The entrusted financing is expected not to recover the principal or has other circumstances that may cause impairment
□ Applicable √ Not applicable
IX. Illegal External Guarantees
□ Applicable √ Not applicable
The Company had no illegal external guarantees during the reporting period.X. Non-operating Occupation of Funds of the Listed Company by the ControllingShareholders and Their Related Parties
□ Applicable √ Not applicable
No non-operating occupation of funds of listed companies by controlling shareholders and their related parties during the reportingperiod.XI. Registration Form for Reception, Research, Communication, Interview and OtherActivities During the Reporting Period
√Applicable □ Not applicable
| Reception time | Reception location | Reception way | Type of received object | Basic information index of the survey |
| January 06, 2021 | Company | Field survey | Organization | See Robam Appliances: Record of Investor Relations Activities on January 06, 2021 in Cninfo |
| January 12, 2021 | Company | Field survey | Organization | See Robam Appliances: Record of Investor Relation Activities on January 12-15, 2021 in Cninfo |
| March 04, 2021 | Company | Field survey | Organization | See Robam Appliances: Record of Investor Relation Activities on January 4-5, 2021 in Cninfo |
Chapter 4 Financial StatementsI. Financial Statements
1. Consolidated Balance Sheet
Unit: Hangzhou Robam Appliances Co., Ltd.
March 31, 2021
Unit: yuan
| Item | March 31, 2021 | December 31, 2020 |
| Current assets: | ||
| Monetary capital | 4,136,801,325.19 | 3,921,052,700.31 |
| Deposit reservation for balance | ||
| Lending funds | ||
| Trading financial assets | 2,225,000,000.00 | 2,352,000,000.00 |
| Derivative financial assets | ||
| Notes receivable | 2,188,823,040.62 | 1,832,701,443.08 |
| Accounts receivable | 620,868,794.62 | 1,008,235,946.40 |
| Receivables financing | ||
| Advances to suppliers | 113,503,727.93 | 69,889,399.47 |
| Premiums receivables | ||
| Reinsurance accounts receivable | ||
| Reinsurance contract reserve receivable | ||
| Other receivables | 67,822,134.75 | 56,589,791.38 |
| Including: Interest receivable | ||
| Dividends receivable | ||
| Redemptory monetary capital for sale | ||
| Inventory | 1,405,339,657.42 | 1,386,089,344.84 |
| Contract assets | ||
| Assets held for sales | ||
| Non-current assets due within a year | ||
| Other current assets | 29,099.50 | 667,378.56 |
| Total current assets | 10,758,187,780.03 | 10,627,226,004.04 |
| Non-current assets: | ||
| Loans and advances | ||
| Debt investment | ||
| Other debt investments | ||
| Long-term receivables | ||
| Long-term equity investment | 2,640,604.50 | 3,452,769.59 |
| Other equity instrument investments | 102,116,023.22 | 102,116,023.22 |
| Other non-current financial assets | ||
| Investment properties | 18,737,014.51 | 2,591,001.84 |
| Fixed assets | 812,093,795.39 | 824,978,354.71 |
| Construction in progress | 465,749,512.12 | 463,424,647.46 |
| Productive biological assets | ||
| Oil and gas assets | ||
| Right-of-use assets | 14,980,357.53 | |
| Intangible assets | 232,052,485.08 | 235,217,240.32 |
| Development expenditure | ||
| Goodwill | 80,589,565.84 | 80,589,565.84 |
| Long-term unamortized expenses | 1,630,211.03 | 1,798,358.85 |
| Deferred income tax assets | 165,146,135.31 | 112,492,030.71 |
| Other non-current assets | 3,849,142.24 | 3,682,279.67 |
| Total non-current assets | 1,899,584,846.77 | 1,830,342,272.21 |
| Total assets | 12,657,772,626.80 | 12,457,568,276.25 |
| Current liabilities | ||
| Short-term borrowing | 6,076,177.30 | 6,076,177.30 |
| Borrowings from central bank | ||
| Borrowing funds | ||
| Trading financial liabilities | ||
| Derivative financial liabilities | ||
| Notes payable | 843,225,581.71 | 751,802,498.92 |
| Accounts payable | 1,519,476,141.14 | 1,723,832,208.09 |
| Advance from customers |
| Contract liabilities | 969,754,696.53 | 949,591,228.35 |
| Financial assets sold for repurchase | ||
| Deposits from customers and interbank | ||
| Acting trading securities | ||
| Acting underwriting securities | ||
| Payroll payable | 17,287,839.40 | 126,130,391.24 |
| Tax payable | 203,455,994.80 | 181,887,237.51 |
| Other payables | 256,157,178.37 | 242,559,615.30 |
| Including: Interest payable | ||
| Dividends payable | ||
| Fees and commissions payable | ||
| Dividend payable for reinsurance | ||
| Liabilities held for sales | ||
| Non-current liabilities due within a year | ||
| Other current liabilities | 119,156,658.12 | 126,535,407.26 |
| Total current liabilities | 3,934,590,267.37 | 4,108,414,763.97 |
| Non-current liabilities: | ||
| Reserve fund for insurance contracts | ||
| Long-term borrowing | ||
| Bonds payable | ||
| Including: preferred stock | ||
| Perpetual bond | ||
| Lease liabilities | 15,582,667.63 | |
| Long-term payable | ||
| Long-term payroll payable | ||
| Estimated liabilities | ||
| Deferred income | 145,559,487.53 | 150,163,523.90 |
| Deferred income tax liabilities | 5,137,765.38 | 5,210,759.74 |
| Other non-current liabilities | ||
| Total non-current liabilities | 166,279,920.54 | 155,374,283.64 |
| Total liabilities | 4,100,870,187.91 | 4,263,789,047.61 |
| Owner's equity: | ||
| Capital stock | 949,024,050.00 | 949,024,050.00 |
| Other equity instruments | ||
| Including: preferred stock | ||
| Perpetual bond | ||
| Capital reserve | 401,799,332.67 | 401,799,332.67 |
| Minus: treasury stock | ||
| Other comprehensive income | -15,157,634.16 | -15,157,634.16 |
| Special reserve | ||
| Surplus reserves | 474,516,412.50 | 474,516,412.50 |
| General risk preparation | ||
| Undistributed profit | 6,599,273,240.22 | 6,240,444,654.34 |
| Total owners' equities attributable to the owners of parent company | 8,409,455,401.23 | 8,050,626,815.35 |
| Minority equity | 147,447,037.66 | 143,152,413.29 |
| Total owners' equities | 8,556,902,438.89 | 8,193,779,228.64 |
| Total liabilities and owners' equities | 12,657,772,626.80 | 12,457,568,276.25 |
| Legal representative: Ren Jianhua | Head of accounting work: Zhang Guofu | Head of accounting institution: Zhang Guofu |
2. Balance sheet of parent company
Unit: yuan
| Item | March 31, 2021 | December 31, 2020 |
| Current assets: | ||
| Monetary capital | 3,968,147,640.60 | 3,660,573,828.66 |
| Trading financial assets | 2,060,000,000.00 | 2,260,000,000.00 |
| Derivative financial assets | ||
| Notes receivable | 2,158,508,187.17 | 1,826,318,388.55 |
| Accounts receivable | 593,604,956.02 | 933,609,909.29 |
| Receivables financing | ||
| Advances to suppliers | 100,087,098.68 | 54,046,490.84 |
| Other receivables | 53,264,970.23 | 49,092,820.31 |
| Including: Interest receivable | ||
| Dividends receivable |
| Inventory | 1,331,157,695.53 | 1,310,365,800.56 |
| Contract assets | ||
| Assets held for sales | ||
| Non-current assets due within a year | ||
| Other current assets | ||
| Total current assets | 10,264,770,548.23 | 10,094,007,238.21 |
| Non-current assets: | ||
| Debt investment | ||
| Other debt investments | ||
| Long-term receivables | ||
| Long-term equity investment | 229,146,538.23 | 229,958,703.32 |
| Other equity instrument investments | 102,116,023.22 | 102,116,023.22 |
| Other non-current financial assets | ||
| Investment properties | 19,030,714.59 | 2,890,836.38 |
| Fixed assets | 785,754,078.21 | 798,041,764.29 |
| Construction in progress | 391,622,015.69 | 388,628,789.02 |
| Productive biological assets | ||
| Oil and gas assets | ||
| Right-of-use assets | ||
| Intangible assets | 151,652,416.89 | 153,598,124.59 |
| Development expenditure | ||
| Goodwill | ||
| Long-term unamortized expenses | 1,442,606.73 | 1,626,828.83 |
| Deferred income tax assets | 164,095,670.34 | 110,283,291.78 |
| Other non-current assets | 2,941,142.24 | 3,005,279.67 |
| Total non-current assets | 1,847,801,206.14 | 1,790,149,641.10 |
| Total assets | 12,112,571,754.37 | 11,884,156,879.31 |
| Current liabilities | ||
| Short-term borrowing | 6,076,177.30 | 6,076,177.30 |
| Trading financial liabilities | ||
| Derivative financial liabilities | ||
| Notes payable | 802,340,567.91 | 706,096,531.24 |
| Accounts payable | 1,437,590,135.87 | 1,643,087,806.83 |
| Advance from customers |
| Contract liabilities | 914,817,476.15 | 863,047,926.93 |
| Payroll payable | 8,867,055.84 | 102,753,699.88 |
| Tax payable | 196,296,786.59 | 170,747,570.08 |
| Other payables | 237,937,278.08 | 225,015,032.38 |
| Including: Interest payable | ||
| Dividends payable | ||
| Liabilities held for sales | ||
| Non-current liabilities due within a year | ||
| Other current liabilities | 112,014,819.48 | 115,284,778.08 |
| Total current liabilities | 3,715,940,297.22 | 3,832,109,522.72 |
| Non-current liabilities: | ||
| Long-term borrowing | ||
| Bonds payable | ||
| Including: preferred stock | ||
| Perpetual bond | ||
| Lease liabilities | ||
| Long-term payable | ||
| Long-term payroll payable | ||
| Estimated liabilities | ||
| Deferred income | 116,702,502.53 | 121,306,538.90 |
| Deferred income tax liabilities | ||
| Other non-current liabilities | ||
| Total non-current liabilities | 116,702,502.53 | 121,306,538.90 |
| Total liabilities | 3,832,642,799.75 | 3,953,416,061.62 |
| Owner's equity: | ||
| Capital stock | 949,024,050.00 | 949,024,050.00 |
| Other equity instruments | ||
| Including: preferred stock | ||
| Perpetual bond | ||
| Capital reserve | 401,754,349.66 | 401,754,349.66 |
| Minus: treasury stock | ||
| Other comprehensive income | -15,157,634.16 | -15,157,634.16 |
| Special reserve | ||
| Surplus reserves | 474,516,412.50 | 474,516,412.50 |
| Undistributed profit | 6,469,791,776.62 | 6,120,603,639.69 |
| Total owners' equities | 8,279,928,954.62 | 7,930,740,817.69 |
| Total liabilities and owners' equities | 12,112,571,754.37 | 11,884,156,879.31 |
3. Consolidated Statement of Income
Unit: yuan
| Item | Amount incurred in current period | Amount incurred in previous period |
| I. Total operating income | 1,908,332,042.49 | 1,265,689,550.31 |
| Including: Operating income | 1,908,332,042.49 | 1,265,689,550.31 |
| Interest revenue | ||
| Premium earned | ||
| Fee and commission income | ||
| II. Total operating costs | 1,543,621,310.18 | 1,042,865,376.79 |
| Including: Operating costs | 814,110,436.09 | 550,300,620.23 |
| Interest expenditure | ||
| Fee and commission expense | ||
| Surrender value | ||
| Net payments for insurance claims | ||
| Net reserve fund extracted for insurance contracts | ||
| Bond insurance expense | ||
| Reinsurance costs | ||
| Taxes and surcharges | 13,074,563.80 | 8,597,000.54 |
| Selling expenses | 614,529,598.27 | 411,997,413.43 |
| Management costs | 69,656,128.89 | 50,456,739.21 |
| Research and development cost | 58,442,093.60 | 45,642,801.87 |
| Financial expenses | -26,191,510.47 | -24,129,198.49 |
| Including: interest expenditure | ||
| Interest revenue | 24,358,320.45 | 23,513,325.52 |
| Plus: other incomes | 47,513,900.41 | 64,975,635.42 |
| Income from investment (loss expressed with “-”) | 15,249,786.30 | 7,496,856.68 |
| Including: Income from investment of joint venture and cooperative enterprise | -812,165.09 | -1,513,281.46 |
| Income from derecognition of financial assets measured at amortized cost | ||
| Exchange gain (loss expressed with “-”) | ||
| Net exposure hedging gain (loss expressed with “-”) | ||
| Income from fair value changes (loss expressed with “-”) | ||
| Credit impairment losses (loss expressed with “-”) | 3,418,677.20 | -4,176,895.96 |
| Assets impairment losses (loss expressed with “-”) | ||
| Income from disposal of assets (loss expressed with “-”) | -1,831,792.95 | |
| III. Operating profits (loss expressed with “-”) | 429,061,303.27 | 291,119,769.66 |
| Plus: Non-operating income | 348,968.29 | 135,941.57 |
| Minus: Non-operating expenditure | 1,142,688.37 | 1,114,628.65 |
| IV. Total profits (total loss expressed with “-”) | 428,267,583.19 | 290,141,082.58 |
| Minus: income tax expenses | 65,694,372.94 | 43,351,740.66 |
| V. Net profits (net loss expressed with “-”) | 362,573,210.25 | 246,789,341.92 |
| (I) Classification by business continuity | ||
| 1. Net profits from ongoing operation (net loss expressed with “-”) | 362,573,210.25 | 246,789,341.92 |
| 2. Net profits from discontinuing operation (net loss expressed with “-”) | ||
| (II) Classified by ownership | ||
| 1. Net owners' profits attributable to the shareholders of the parent company | 358,828,585.88 | 245,010,424.02 |
| 2. Minority interest income | 3,744,624.37 | 1,778,917.90 |
| VI. Net of tax of other comprehensive income | ||
| Net amount of after-tax other comprehensive income attributable to the owners of the parent company | ||
| (I) Other comprehensive income that can't be reclassified into profit and loss | ||
| 1. Remeasure the variation of net indebtedness or net asset of defined benefit plan |
| 2. Other comprehensive income that can't be reclassified into profit and loss in the invested enterprise under equity method | ||
| 3. Fair value change of other equity instrument investments | ||
| 4. Fair value change of enterprise credit risks | ||
| 5. Other | ||
| (II) Other comprehensive income that will be reclassified into profit and loss | ||
| 1. Other comprehensive income that will be reclassified into profit and loss in the invested enterprise under equity method | ||
| 2. Fair value change of other debt investments | ||
| 3. Amount of financial assets reclassified into other comprehensive income | ||
| 4. Provision for credit impairment of other debt investments | ||
| 5. Cash flow hedging reserve | ||
| 6. Translation reserve | ||
| 7. Other | ||
| Net of tax of other comprehensive income attributable to the minority shareholders | ||
| VII. Total comprehensive income | 362,573,210.25 | 246,789,341.92 |
| Total comprehensive income belonging to parent company | 358,828,585.88 | 245,010,424.02 |
| Total comprehensive income belonging to minority shareholders | 3,744,624.37 | 1,778,917.90 |
| VIII. Earnings per share: | ||
| (I) Basic earnings per share | 0.38 | 0.26 |
| (II) Diluted earnings per share | 0.38 | 0.26 |
In case of business combination involving enterprises under common control in this period, the net profits achieved by the combinedenterprise before combination were RMB and achieved by the combined enterprise in previous period were RMB .
| Legal representative: Ren Jianhua | Head of accounting work: Zhang Guofu | Head of accounting institution: Zhang Guofu |
4. Income statement of parent company
Unit: yuan
| Item | Amount incurred in current period | Amount incurred in previous period |
| I. Operating income | 1,732,321,789.16 | 1,181,482,077.84 |
| Minus: operating costs | 745,408,699.72 | 515,036,964.64 |
| Taxes and surcharges | 11,692,932.17 | 7,607,838.95 |
| Selling expenses | 545,268,146.05 | 378,366,771.01 |
| Management costs | 46,859,617.45 | 34,320,467.55 |
| Research and development cost | 55,510,149.85 | 43,836,299.13 |
| Financial expenses | -25,051,061.84 | -24,017,455.42 |
| Including: interest expenditure | ||
| Interest revenue | 24,210,431.93 | 23,356,753.00 |
| Plus: other incomes | 44,577,058.56 | 60,984,341.53 |
| Income from investment (loss expressed with “-”) | 14,810,104.22 | 3,990,466.27 |
| Including: Income from investment of joint venture and cooperative enterprise | -812,165.09 | -1,513,281.46 |
| Income from derecognition of financial assets measured at amortized cost (loss expressed with “-”) | ||
| Net exposure hedging gain (loss expressed with “-”) | ||
| Income from fair value changes (loss expressed with “-”) | ||
| Credit impairment losses (loss expressed with “-”) | 1,796,773.22 | -2,687,972.28 |
| Assets impairment losses (loss expressed with “-”) | ||
| Income from disposal of assets (loss expressed with “-”) | -1,869,271.53 | |
| II. Operating profit (loss to be filled out with the minus sign "-") | 411,947,970.23 | 288,618,027.50 |
| Plus: Non-operating income | 258,973.24 | 124,434.66 |
| Minus: Non-operating expenditure | 1,030,215.67 | 1,054,495.98 |
| III. Total profit (total loss to be filled out with | 411,176,727.80 | 287,687,966.18 |
| the minus sign "-") | ||
| Minus: income tax expenses | 61,988,590.87 | 43,511,101.79 |
| IV. Net profit (net loss to be filled out with the minus sign "-") | 349,188,136.93 | 244,176,864.39 |
| (I) Net profits from going concern (net loss expressed with “-”) | 349,188,136.93 | 244,176,864.39 |
| (II) Net profits from discontinuing operation (net loss expressed with “-”) | ||
| V. Net amount of other comprehensive income after tax | ||
| (I) Other comprehensive income that can't be reclassified into profit and loss | ||
| 1. Remeasure the variation of net indebtedness or net asset of defined benefit plan | ||
| 2. Other comprehensive income that can't be reclassified into profit and loss in the invested enterprise under equity method | ||
| 3. Fair value change of other equity instrument investments | ||
| 4. Fair value change of enterprise credit risks | ||
| 5. Other | ||
| (II) Other comprehensive income that will be reclassified into profit and loss | ||
| 1. Other comprehensive income that will be reclassified into profit and loss in the invested enterprise under equity method | ||
| 2. Fair value change of other debt investments | ||
| 3. Amount of financial assets reclassified into other comprehensive income | ||
| 4. Provision for credit impairment of other debt investments | ||
| 5. Cash flow hedging reserve | ||
| 6. Translation reserve | ||
| 7. Other | ||
| Ⅵ. Total comprehensive income | 349,188,136.93 | 244,176,864.39 |
| Ⅶ. Earnings per share: |
| (I) Basic earnings per share | ||
| (II) Diluted earnings per share |
5. Consolidated Statement of Cash Flow
Unit: yuan
| Item | Amount incurred in current period | Amount incurred in previous period |
| I. Cash flow from financing activities: | ||
| Cash from selling commodities or offering labor | 2,169,898,160.33 | 1,172,850,208.54 |
| Net increase of customer deposit and deposit from other banks | ||
| Net increase of borrowings from central bank | ||
| Net increase of borrowing funds from other financial institutions | ||
| Cash from obtaining original insurance contract premium | ||
| Cash received from insurance premium of original insurance contract | ||
| Net increase of deposit and investment of insured | ||
| Cash from interest, handling charges and commissions | ||
| Net increase of borrowing funds | ||
| Net increase of repurchase of business funds | ||
| Net cash from acting trading securities | ||
| Refund of tax and levies | 2,874.62 | |
| Other cash received related to operating activities | 79,218,797.20 | 90,996,539.87 |
| Subtotal cash inflows from operating activities | 2,249,116,957.53 | 1,263,849,623.03 |
| Cash paid for selling commodities or offering labor | 1,098,274,183.01 | 860,082,474.03 |
| Net increase of customer loans and advances | ||
| Net increase of amount due from |
| central bank and interbank | ||
| Cash paid for original insurance contract claims payment | ||
| Net increase of lending funds | ||
| Cash paid for interest, handling charges and commissions | ||
| Cash paid for policy dividend | ||
| Cash paid to and for employees | 244,294,780.46 | 208,672,210.13 |
| Taxes and fees paid | 205,079,543.78 | 125,152,278.06 |
| Other cash paid related to operating activities | 555,669,799.44 | 314,660,992.17 |
| Subtotal cash outflows from operating activities | 2,103,318,306.69 | 1,508,567,954.39 |
| Net cash flow from operating activities | 145,798,650.84 | -244,718,331.36 |
| II. Cash flow from investment activities: | ||
| Cash from investment withdrawal | 629,000,000.00 | 410,000,000.00 |
| Cash from investment income | 16,523,049.30 | 21,341,703.75 |
| Net cash from disposal of fixed assets, intangible assets and other long-term assets | 1,316,562.40 | |
| Net cash from disposal of subsidiaries and other business units | ||
| Other cash received related to investment activities | ||
| Subtotal cash inflows from investment activities | 646,839,611.70 | 431,341,703.75 |
| Cash paid for purchase of fixed assets, intangible assets and other long-term assets | 80,863,665.71 | 44,099,181.67 |
| Cash paid for investment | 502,000,000.00 | 290,000,000.00 |
| Net increase in hypothecated loan | ||
| Net cash paid for obtaining subsidiaries and other business units | ||
| Other cash paid related to investment activities | ||
| Subtotal cash outflows from investment activities | 582,863,665.71 | 334,099,181.67 |
| Net cash flow from investment activities | 63,975,945.99 | 97,242,522.08 |
| III. Cash flow from financing activities: |
| Receipts from equity securities | 550,000.00 | |
| Including: Cash received from subsidies’ absorption of minority shareholders’ investment | 550,000.00 | |
| Cash from borrowings | ||
| Other cash received related to financing activities | ||
| Subtotal cash inflows from financing activities | 550,000.00 | |
| Cash repayments of amounts borrowed | ||
| Cash paid for distribution of dividends, profits or interest expenses | ||
| Including: dividends and profits paid by subsidiaries to minority shareholders | ||
| Other cash paid related to financing activities | ||
| Subtotal cash outflows from financing activities | ||
| Net cash flow from financing activities | 550,000.00 | |
| IV. Impact of exchange rate movements on cash and cash equivalents | 257,034.19 | 559,026.29 |
| V. Net increase of cash and cash equivalents | 210,581,631.02 | -146,916,782.99 |
| Plus: Balance of cash and cash equivalents at the beginning of the period | 3,886,096,513.56 | 4,029,296,265.50 |
| VI. Balance of cash and cash equivalents at the end of the period | 4,096,678,144.58 | 3,882,379,482.51 |
6. Cash flow statement of parent company
Unit: yuan
| Item | Amount incurred in current period | Amount incurred in previous period |
| I. Cash flow from financing activities: | ||
| Cash from selling commodities or offering labor | 1,986,744,939.69 | 1,132,547,167.71 |
| Refund of tax and levies | ||
| Other cash received related to operating activities | 68,182,268.16 | 81,685,212.76 |
| Subtotal cash inflows from operating | 2,054,927,207.85 | 1,214,232,380.47 |
| activities | ||
| Cash paid for selling commodities or offering labor | 1,040,815,058.70 | 849,183,540.54 |
| Cash paid to and for employees | 195,837,840.41 | 168,160,457.31 |
| Taxes and fees paid | 186,579,814.26 | 112,089,484.74 |
| Other cash paid related to operating activities | 472,719,418.71 | 275,423,429.67 |
| Subtotal cash outflows from operating activities | 1,895,952,132.08 | 1,404,856,912.26 |
| Net cash flow from operating activities | 158,975,075.77 | -190,624,531.79 |
| II. Cash flow from investment activities: | ||
| Cash from investment withdrawal | 500,000,000.00 | 300,000,000.00 |
| Cash from investment income | 16,056,986.29 | 20,129,011.97 |
| Net cash from disposal of fixed assets, intangible assets and other long-term assets | 1,266,582.40 | |
| Net cash from disposal of subsidiaries and other business units | ||
| Other cash received related to investment activities | ||
| Subtotal cash inflows from investment activities | 517,323,568.69 | 320,129,011.97 |
| Cash paid for purchase of fixed assets, intangible assets and other long-term assets | 71,167,272.42 | 43,273,878.67 |
| Cash paid for investment | 300,000,000.00 | 200,000,000.00 |
| Net cash paid for obtaining subsidiaries and other business units | ||
| Other cash paid related to investment activities | ||
| Subtotal cash outflows from investment activities | 371,167,272.42 | 243,273,878.67 |
| Net cash flow from investment activities | 146,156,296.27 | 76,855,133.30 |
| III. Cash flow from financing activities: | ||
| Receipts from equity securities | ||
| Cash from borrowings | ||
| Other cash received related to financing activities | ||
| Subtotal cash inflows from financing |
| activities | ||
| Cash repayments of amounts borrowed | ||
| Cash paid for distribution of dividends, profits or interest expenses | ||
| Other cash paid related to financing activities | ||
| Subtotal cash outflows from financing activities | ||
| Net cash flow from financing activities | ||
| IV. Impact of exchange rate movements on cash and cash equivalents | 257,146.96 | 559,028.63 |
| V. Net increase of cash and cash equivalents | 305,388,519.00 | -113,210,369.86 |
| Plus: Balance of cash and cash equivalents at the beginning of the period | 3,627,178,859.95 | 3,951,074,513.16 |
| VI. Balance of cash and cash equivalents at the end of the period | 3,932,567,378.95 | 3,837,864,143.30 |
II. Statement of Adjustments to Financial Statements
1. Adjustment of relevant items in financial statements at the beginning of implementation year as a resultof first implementation of new lease standards from 2021
√Applicable □ Not applicable
Whether to adjust the balance sheet items at the beginning of the year
√ Yes □ No
Consolidated Balance Sheet
Unit: yuan
| Item | December 31, 2020 | January 01, 2021 | Adjusted figure |
| Right-of-use assets | 15,374,577.46 | 15,374,577.46 | |
| Total non-current assets | 1,830,342,272.21 | 1,845,716,850.00 | 15,374,577.46 |
| Total assets | 12,457,568,276.25 | 12,472,942,854.00 | 15,374,577.46 |
| Lease liabilities | 15,374,577.46 | 15,374,577.46 | |
| Total non-current liabilities | 155,374,283.64 | 170,748,861.10 | 15,374,577.46 |
| Total liabilities | 4,263,789,047.61 | 4,279,163,625.00 | 15,374,577.46 |
2. Retrospective adjustment of early comparative data description as a result of first implementation of newlease standards from 2021
□ Applicable √ Not applicable
III. Audit Report
Whether the first quarterly report has been audited？
□ Yes √ No
The first quarterly report of the Company has not been audited.