Stock Code: 688007 Stock Short Name: Appotronics
The First Quarter Report in 2021
ofAppotronics Corporation Limited
CONTENT
I. Important Notes ............................................................................................ 3
II. Basic Information ....................................................................................... 3
III. Significant Events ...................................................................................... 8
IV. Annex ........................................................................................................ 13
I. Important Notes
1.1 The Board of Directors, the Board of Supervisors, directors, supervisors and officers of theCompany hereby warrant that the information contained in this Quarterly Report is true, accurateand complete and this Quarterly Report is free from any misrepresentation, misleading statement ormaterial omission, and agree to assume joint and several liability for this Quarterly Report.
1.2 All directors of the Company attended the meeting of the Board of Directors for deliberation of thisQuarterly Report.
1.3 BO Lianming, Principal of the Company; ZHAO Ruijin, the Person in Charge of the Accounting
Body; and LIU Jie, the Chief Accountant (the Person in Charge of Accounting) hereby representthat the financial statements contained in this Quarterly Report are true, accurate and complete.
1.4 The Company’s first quarter report has not been audited.
II. Basic Information
2.1 Main financial data
In RMB
| At the end of the reporting period | At the end of the prior year | Changes at the end of the reporting period from the end of the prior year (%) | |
| Total assets | 3,279,993,185.99 | 3,226,204,326.69 | 1.67 |
| Net assets attributable to shareholders of the listed company | 2,147,767,338.89 | 2,091,599,671.75 | 2.69 |
| From the beginning of the year to the end of the reporting period | From the beginning of the prior year to the end of the reporting period of the prior year | Changes over the same period of the prior year (%) | |
| Net cash flow from operating activities | 106,223,261.88 | -38,289,185.55 | N/A |
| From the beginning of the year to the end of the reporting period | From the beginning of the prior year to the end of the reporting period of the | Changes over the same period of the prior year (%) |
| prior year | |||
| Operating income | 524,967,989.26 | 306,900,748.84 | 71.05 |
| Net profits attributable to shareholders of the listed company | 54,409,294.00 | 13,322,216.29 | 308.41 |
| Net profits attributable to shareholders of the listed company after deduction of non-recurring profits or losses | 36,659,661.66 | -7,989,708.14 | N/A |
| Weighted average return on net assets (%) | 2.57 | 0.67 | + 1.9 percentage points |
| Basic earnings per share (RMB/share) | 0.12 | 0.03 | 300 |
| Diluted earnings per share (RMB/share) | 0.12 | 0.03 | 300 |
| Proportion of R&D investments to the operating income (%) | 8.49 | 14.26 | - 5.77 percentage points |
Items and amounts of non-recurring profit or loss
√Applicable □ N/A
In RMB
| Item | Amount of the current period | Description |
| Profit or loss on disposal of non-current assets | 2,150,156.10 | It primarily refers to income from disposal of fixed assets. |
| Government grants recognized in profit or loss other than grants which are closely related to the Company’s business and are either in fixed amounts or determined under quantitative methods | 12,383,017.60 | The government grants primarily represent those recognized in profit or loss for the current period, including government |
| in accordance with the national standard | grants received in the current period and those previously received but recognized in the current period for amortization. | |
| Net profit or loss of subsidiaries from the beginning of the period up to the business combination date recognized as a result of business combination of enterprises involving entities under common control | 935,879.46 | |
| Profit or loss on changes in the fair value of held-for-trading financial assets, derivative financial assets, held-for-trading financial liabilities and derivative financial liabilities and investment income on disposal of held-for-trading financial assets, derivative financial assets, held-for-trading financial liabilities, derivative financial liabilities and other debt investments, other than those used in the effective hedging activities relating to normal operating business | 5,910,827.61 | It refers to the realized part of unrealized profits and losses from transactions prior to business combination involving entities under common control. |
| Other non-operating income or expenses other than the above | 427,924.61 | |
| Effects attributable to minority interests (net of tax) | -1,271,520.26 | |
| Income tax effects | -2,786,652.78 | |
| Total | 17,749,632.34 |
2.2 Total number of shareholders, and the shareholding of top ten shareholders and top ten unrestricted
shareholders as of the end of reporting period
In Shares
| Total number of shareholders (account) | 13,653 | |||||
| The shareholding of top ten shareholders | ||||||
| Shareholder name (full name) | Number of shares held at the end of | Proportion (%) | Number of restricted shares held | Number of restricted shares | If being pledged or frozen | Nature of shareholders |
| the period | including shares leased out for refinancing business | Share status | Share number | ||||
| Shenzhen Appotronics Holdings Limited | 79,762,679 | 17.62 | 79,762,679 | 79,762,679 | No | 0 | Non-state-owned corporation in China |
| SAIF IV Hong Kong (China Investments) Limited | 42,522,842 | 9.39 | 0 | 0 | No | 0 | Oversea corporation |
| CITIC PE Investment (Hong Kong) 2016 Limited | 36,413,032 | 8.04 | 0 | 0 | No | 0 | Oversea corporation |
| Nantong Strait Appotronics Investment Partnership (LP) | 25,064,737 | 5.54 | 0 | 0 | No | 0 | Non-state-owned corporation in China |
| Shenzhen Yuanshi Laser Industrial Investment Consulting Partnership (LP) | 24,139,500 | 5.33 | 24,139,500 | 24,139,500 | No | 0 | Non-state-owned corporation in China |
| Shenzhen Appotronics Daye Investment Partnership (LP) | 20,430,250 | 4.51 | 20,430,250 | 20,430,250 | No | 0 | Non-state-owned corporation in China |
| GREEN FUTURE HOLDINGS LIMITED | 16,504,518 | 3.65 | 0 | 0 | No | 0 | Oversea corporation |
| Shenzhen Appotronics Hongye Investment Partnership (LP) | 15,662,374 | 3.46 | 15,662,374 | 15,662,374 | No | 0 | Non-state-owned corporation in China |
| Shenzhen Jinleijing Investment Limited Partnership (LP) | 12,353,106 | 2.73 | 12,353,106 | 12,353,106 | No | 0 | Non-state-owned corporation in China |
| Shenzhen Guochuang Chenggu Asset Investment Co., Ltd.-Shenzhen Chengguhui Equity Investment Partnership (LP) | 10,443,640 | 2.31 | 0 | 0 | No | 0 | Non-state-owned corporation in China | |
| The shareholding of top ten shareholders of non-restricted shares | ||||||||
| Shareholder name | Number of unrestricted circulating shares | Category and number of shares | ||||||
| Category | Number | |||||||
| SAIF IV Hong Kong (China Investments) Limited | 42,522,842 | RMB ordinary shares | 42,522,842 | |||||
| CITIC PE Investment (Hong Kong) 2016 Limited | 36,413,032 | RMB ordinary shares | 36,413,032 | |||||
| Nantong Strait Appotronics Investment Partnership (LP) | 25,064,737 | RMB ordinary shares | 25,064,737 | |||||
| GREEN FUTURE HOLDINGS LIMITED | 16,504,518 | RMB ordinary shares | 16,504,518 | |||||
| Shenzhen Guochuang Chenggu Asset Investment Co., Ltd.-Shenzhen Chengguhui Equity Investment Partnership (LP) | 10,443,640 | RMB ordinary shares | 10,443,640 | |||||
| China Merchants Bank -ChinaAMC SSE STAR 50 Exchange Traded Funds | 7,269,521 | RMB ordinary shares | 7,269,521 | |||||
| SMART TEAM INVESTMENT LIMITED | 6,799,660 | RMB ordinary shares | 6,799,660 | |||||
| CAI Kunliang | 6,096,243 | RMB ordinary shares | 6,096,243 | |||||
| Shenzhen Liansong Capital Management Limited Partnership (LP) | 5,833,817 | RMB ordinary shares | 5,833,817 | |||||
| ICBC-AXA Life Insurance Co., Ltd.- Tradition 2 | 5,497,569 | RMB ordinary shares | 5,497,569 | |||||
| Description of the related-party relationship or concerted actions among aforementioned shareholders | 1.As of March 31,2021, the Company has received no statement from aforementioned shareholders to confirm there is a related-party relationship or concerted action, except the concerted action among Shenzhen Appotronics Holdings Limited, Shenzhen Yuanshi Laser Industrial Investment Consulting Partnership (LP), Shenzhen Appotronics Daye Investment Partnership (LP), Shenzhen Appotronics Hongye Investment Partnership (LP), and Shenzhen Jinleijing Investment Limited Partnership (LP). 2. The Company is unaware that whether there is a related-party relationship among circulating shareholders or whether they are persons acting in concert as stipulated in the Measures for the Administration of the Takeover of Listed Companies. |
| Description on preferred shareholders of voting power recovered and shareholding numbers | N/A |
2.3 Total number of preferred shareholders, and the shareholding of top ten preferred shareholders andtop ten unrestricted preferred shareholders as of the end of reporting period
□ Applicable √ N/A
III. Significant Events
3.1 Significant changes in the Company’s main accounting line items and financial highlights andreasons thereof
√Applicable ? N/A
1. Changes in line items of the balance sheet and reasons thereof
In RMB
| Item | March 31, 2021 | December 31, 2020 | Proportion of change (%) | Reason for change |
| Accounts receivable | 188,974,088.57 | 341,660,832.43 | -44.69% | Primarily due to recovery of the opening balance of accounts receivable during the reporting period |
| Receivables financing | 2,024,508.81 | 11,959,000.00 | -83.07% | Primarily due to the acceptance of matured bank acceptance bills during the reporting period |
| Contract assets | 2,551,858.10 | 3,744,655.50 | -31.85% | Primarily due to collection of contract assets due in the reporting period |
| Other current assets | 33,190,142.08 | 13,002,195.46 | 155.27% | Primarily due to the increase in VAT input tax to be deducted during the reporting period |
| Right of use assets | 36,626,275.79 | N/A | Primarily due to the implementation of the new lease standard for the first time | |
| Other non-current assets | 13,905,509.02 | 6,299,781.06 | 120.73% | Primarily due to the increase in prepayments for the acquisition of fixed assets and intangible assets |
| Notes payable | 153,941,489.46 | 116,822,674.67 | 31.77% | Primarily due to the increase in payment for goods by issuing banker acceptances during the reporting period |
| Employee benefits payable | 20,446,582.80 | 46,105,566.15 | -55.65% | Primarily due to the payment of year-end bonus for 2020 during the reporting period |
| Other payables | 20,202,835.30 | 59,848,053.83 | -66.24% | Primarily due to the return of loans to minority shareholders and the payment for the purchase of remaining equity interests by the subsidiaries during the reporting period |
| Lease liabilities | 39,833,277.93 | N/A | Primarily due to the implementation of the new lease standard for the first time |
2. Changes in line items of the income statement and reasons thereof
In RMB
| Item | For the period from January 1, 2021 to March 31, 2021 | For the period from January 1, 2020 to March 31, 2020 | Proportion of change (%) | Reason for change |
| Other income | 524,967,989.26 | 306,900,748.84 | 71.05% | Primarily due to the increase in operating costs as a result of the increase in operating income |
| Other cost | 352,723,171.26 | 205,113,820.04 | 71.96% | Primarily due to the increase in VAT payable during the reporting period |
| Taxes and levies | 2,289,691.36 | 848,964.73 | 169.70% | Primarily due to the increase in marketing promotion expenses as a |
| result of the control over COVID-19 during the reporting period | ||||
| Selling expenses | 36,732,891.97 | 24,522,520.30 | 49.79% | Primarily due to the increase in interest income during the reporting period |
| Financial expenses | 25,761.46 | 3,640,120.46 | -99.29% | Primarily due to the decreased income from wealth management products recognized during the reporting period |
| Investment income | 4,546,382.37 | 6,951,747.26 | -34.60% | Primarily due to the decreased income from wealth management products recognized during the reporting period |
| Impairment losses of assets | 7,707,743.19 | 3,178,689.54 | 142.48% | Primarily due to the reversal of provision for bad debts as a result of receipts of more accounts receivable during the reporting period |
| Losses of asset impairment | -1,714,867.75 | -4,230,773.80 | -59.47% | Primarily due to the decrease in provision for decline in value of inventories during the reporting period |
| Income tax expenses | 20,220,441.99 | 6,583,959.00 | 207.12% | Primarily due to the increase in total profits during the reporting period |
3. Changes in line items of the cash flow statement and reasons thereof
In RMB
| Item | For the period from January 1, 2021 to March 31, 2021 | For the period from January 1, 2020 to March 31, 2020 | Proportion of change (%) | Reason for change |
| Net cash flow from operating activities | 106,223,261.88 | -38,289,185.55 | N/A | Primarily due to the increase in collections from increased operating income |
| Net cash flow from investing activities | -47,374,910.78 | 56,240,044.30 | -184.24% | Primarily due to the payment for purchase of wealth management products and remaining remaining equity interests |
| Net cash flow from financing activities | -32,061,477.75 | -53,008,882.64 | N/A |
3.2 Description of analysis on progresses of significant events and their influences and solutions
√Applicable □ N/A
(I) Litigation
1. Civil litigation and arbitration cases where the Company acted as a defendantAs of the disclosure date of the report, there have been 7 civil litigation cases where the Company was adefendant, with details as below:
2.Civil litigation and arbitration cases where the Company acted as a plaintiff
| Effect of foreign exchange rate changes on cash and cash equivalents | 670,024.42 | 419,408.45 | 59.75% | Primarily due to exchange profit or loss and the exchange differences on translation of financial statements denominated in foreign currencies |
| Net increase in cash and cash equivalents | 27,456,897.77 | -34,638,615.44 | N/A | Primarily due to the comprehensive effects on changes in each line item above of the cash flow statement |
| Case No. | Cause of action | Plaintiff | Defendant/Appellee | Patents involved | Amount involved | Progress |
| (2019) Yue 73 Zhi Min Chu No.662 | Infringement of patent rights of inventions | Delta Electronics, Inc. | Appotronics Corporation Limited; Shenzhen Futian Suopuni Projection Video System Commercial Firm | ZL201610387831.8 | RMB 16,145,300 | Suspension of hearing |
| (2019) Yue 73 Zhi Min Chu No.663 | ZL201310017478.0 | RMB 16,145,300 | First instance completed | |||
| (2019) Yue 73 Zhi Min Chu No.664 | ZL20310625063.1 | RMB 16,145,300 | Second instance pending | |||
| (2019) Jing 73 Min Chu No.1275 | Infringement of patent rights of inventions | Delta Electronics, Inc. | Fengmi (Beijing) Technology Co., Ltd.; Appotronics Corporation Limited | ZL201610387831.8 | RMB 16,010,000 | First instance pending |
| (2019) Jing 73 Min Chu No.1276 | ZL201410249663.7 | RMB 16,010,000 | First instance pending | |||
| (2019) Jing 73 Min Chu No.1277 | ZL201310017478.0 | RMB 16,010,000 | Second instance pending | |||
| (2019) Jing 73 Min Chu No.1278 | ZL201010624724.5 | RMB 16,010,000 | First instance pending |
As of the disclosure date of the report, there have been 22 civil litigation cases where the Companyacted as a plaintiff. In these cases, 20 cases were caused by infringement of invention patents withrelevant claims as follows: requiring the defendant to stop infringing the Company’s patents forinvention and destroy the equipment and mold, etc. used to produce the infringed products; requiring thedefendant to compensate the plaintiff with economic losses and reasonable expenses incurred forstopping the infringement, and to bear the joint and several liability. No other credit and debt disputeswere involved. And 2 cases were brought for correcting the inventors of the patents, with relevant claimsof correcting LI Yi and HU Fei as the inventors of the US Patent No. 9,024,241 and the China Patent No.ZL201610387831.8., in which the Company is the owner of these patents.
3. Progress on cases
(1) As of the disclosure date of the report, the Company has received 5 Civil Judgements decidedby the Shenzhen Intermediate People’s Court in the first instance (Case No.: (2019) Yue 03 Min Chu No.2943, 2944, 2946, 2948 and 2951), holding that the defendants, Delta Electronics EnterpriseManagement (Shanghai) Co., Ltd. and Delta Electronics (Jiangsu) Co., Limited, immediately stopinfringing the Company’s patents for invention, and jointly and severally indemnify the plaintiff,Appotronics Corporation Limited, a compensation of RMB 1,651,997.
(2) The Company entered a nolle prosequi in respect of 6 cases against Delta Company (Case No.(2019) Yue 03 Min Chu No. 2942, 2945, 2947, 2949, 2950, and 4309). During the reporting period, theCompany has received the Judgement from the court for withdrawal of cases.
(II) Invalidation plea
As of the disclosure date of the report, all invalidation plea cases where the Company acted as apatentee have been closed by the China National Intellectual Property Administration with a decision tomaintain the validity of the patent right, or withdrawn by the petitioner at their own discretion; and therehas been only 1 invalidation plea case where the Company acted as a petitioner being sub judice by theChina National Intellectual Property Administration, which is related to the invalidation plea againstpatents held by Delta Electronics, Inc.
3.3 Commitments failed in completion as scheduled during the reporting period
□ Applicable √ N/A
3.4 Warning of the estimate that the accumulated net profits from the beginning of the year to the end
of the next reporting period will be negative or will change significantly comparing with the same
period of the previous year, and description of reasons
□Applicable √ N/A
| Company name | Appotronics Corporation Limited |
| Legal Representative | BO Lianming |
| Date | April 24, 2021 |
IV. Annex
4.1 Financial statements
Consolidated Balance Sheet
March 31, 2021Prepared by: Appotronics Corporation Limited
In RMB, Unaudited
| Item | March 31, 2021 | December 31, 2020 | |
| Current Assets: | |||
| Cash and bank balances | 1,064,372,349.54 | 1,037,760,573.27 | |
| Balances with clearing agencies | |||
| Placements with banks and other financial institutions | |||
| Held-for-trading financial assets | 114,000,000.00 | 114,000,000.00 | |
| Derivative financial assets | |||
| Notes receivable | 2,983,038.68 | 3,726,328.91 | |
| Accounts receivable | 188,974,088.57 | 341,660,832.43 | |
| Receivables financing | 2,024,508.81 | 11,959,000.00 | |
| Prepayments | 57,515,174.21 | 47,447,601.43 | |
| Premiums receivable | |||
| Amounts receivable under reinsurance contracts | |||
| Reinsurer’s share of insurance contract reserves | |||
| Other receivables | 9,273,387.64 | 12,534,062.15 | |
| Including: Interest receivable | |||
| Dividends receivable | |||
| Financial assets purchased under resale agreements | |||
| Inventories | 532,336,267.79 | 418,812,140.80 | |
| Contract assets | 2,551,858.10 | 3,744,655.50 | |
| Held-for-sale assets | |||
| Non-current assets due within one year | |||
| Other current assets | 33,190,142.08 | 13,002,195.46 | |
| Total Current Assets | 2,007,220,815.42 | 2,004,647,389.95 | |
| Non-current Assets: | |||
| Loans and advances | |||
| Debt investments | |||
| Other debt investments | |||
| Long-term receivables | 13,346,016.87 | 13,196,087.78 | |
| Long-term equity investments | 264,994,418.30 | 262,744,772.48 | |
| Other equity instrument investments | 11,975,419.38 | 11,975,419.38 | |
| Other non-current financial assets | |||
| Investment properties | |||
| Fixed assets | 446,885,174.58 | 447,571,328.91 | |
| Construction in progress | 61,210,351.60 | 51,576,850.72 | |
| Bearer biological assets | |||
| Oil and gas assets | |||
| Right-of-use assets | 36,626,275.79 | ||
| Intangible assets | 316,962,854.87 | 320,488,235.60 | |
| Development expenditure | |||
| Goodwill | |||
| Long-term prepaid expenses | 9,834,264.47 | 11,572,346.79 | |
| Deferred tax assets | 97,032,085.69 | 96,132,114.02 | |
| Other non-current assets | 13,905,509.02 | 6,299,781.06 | |
| Total Non-current Assets | 1,272,772,370.57 | 1,221,556,936.74 | |
| Total assets | 3,279,993,185.99 | 3,226,204,326.69 | |
| Current Liabilities: | |||
| Short-term borrowings | 83,264,853.23 | 88,778,852.86 | |
| Loans from the central bank | |||
| Taking from banks and other financial institutions | |||
| Held-for-trading financial liabilities | |||
| Derivative financial liabilities | |||
| Notes payable | 153,941,489.46 | 116,822,674.67 | |
| Accounts payable | 231,375,227.23 | 226,494,815.90 | |
| Receipts in advance | 146,692,470.96 | 153,258,189.88 | |
| Contract liabilities | 33,124,732.32 | 31,518,312.59 | |
| Financial assets sold under repurchase agreements | |||
| Customer deposits and deposits from banks and other financial institutions | |||
| Funds from securities trading agency | |||
| Funds from underwriting securities agency | |||
| Employee benefits payable | 20,446,582.80 | 46,105,566.15 | |
| Taxes payable | 20,790,402.18 | 19,871,846.94 | |
| Other payables | 20,202,835.30 | 59,848,053.83 | |
| Including: Interest payable | |||
| Dividends payable | |||
| Fees and commissions payable | |||
| Amounts payable under reinsurance contracts | |||
| Held-for-sale liabilities | |||
| Non-current liabilities due within one year | 148,102,629.59 | 181,417,412.46 | |
| Other current liabilities | 2,738,580.06 | 3,045,831.07 | |
| Total Current Liabilities | 860,679,803.13 | 927,161,556.35 | |
| Non-current Liabilities: | |||
| Insurance contract reserves | |||
| Long-term borrowings | 77,559,805.75 | 64,845,281.53 | |
| Bonds payable | |||
| Including: Preferred shares | |||
| Perpetual bonds | |||
| Leasing liabilities | 39,833,277.93 | ||
| Long-term payables | 3,285,650.00 | 3,262,450.00 | |
| Long-term employee benefits payable | |||
| Provisions | 29,743,263.71 | 28,799,354.65 | |
| Deferred income | 16,762,859.17 | 16,723,257.15 | |
| Deferred tax liabilities | |||
| Other non-current liabilities | |||
| Total Non-current Liabilities | 167,184,856.56 | 113,630,343.33 | |
| Total Liabilities | 1,027,864,659.69 | 1,040,791,899.68 | |
| Owners’ (or Shareholders’) equity: | |||
| Paid-in capital (or share capital) | 452,756,901.00 | 452,756,901.00 | |
| Other equity instruments | |||
| Including: Preferred shares | |||
| Perpetual bonds | |||
| Capital reserve | 1,251,753,237.13 | 1,249,020,991.15 | |
| Less: Treasury shares | |||
| Other comprehensive income | -4,232,435.10 | -3,214,291.93 | |
| Special reserve | |||
| Surplus reserve | 35,242,179.57 | 35,242,179.57 | |
| General risk reserve | |||
| Retained profits | 412,247,456.29 | 357,793,891.96 | |
| Total Owners’(or Shareholders’) Equity Attributable to Owners of the Parent Company | 2,147,767,338.89 | 2,091,599,671.75 | |
| Minority interests | 104,361,187.41 | 93,812,755.26 | |
| Total Owners’ (or Shareholders’) Equity | 2,252,128,526.30 | 2,185,412,427.01 | |
| Total Liabilities and Owners’ (or Shareholders’) Equity | 3,279,993,185.99 | 3,226,204,326.69 | |
Legal Representative: Person in Charge of the Accounting Body: Chief Accountant:
BO Lianming ZHAO Ruijin LIU Jie
Balance Sheet of the Parent Company
March 31, 2021Prepared by: Appotronics Corporation Limited
In RMB, Unaudited
| Item | March 31, 2021 | December 31, 2020 |
| Current Assets: | ||
| Cash and bank balances | 762,221,931.62 | 709,932,686.71 |
| Held-for-trading financial assets | 114,000,000.00 | 114,000,000.00 |
| Derivative financial assets | ||
| Notes receivable | 2,044,438.68 | 2,314,628.91 |
| Accounts receivable | 548,070,417.35 | 567,539,506.79 |
| Receivables financing | 1,564,508.81 | 100,000.00 |
| Prepayments | 11,271,295.91 | 11,001,439.23 |
| Other receivables | 38,701,360.98 | 71,654,117.57 |
| Including: Interest receivable | ||
| Dividends receivable | ||
| Inventories | 201,672,779.50 | 169,022,971.44 |
| Contract assets | 2,527,363.10 | 3,720,160.50 |
| Held-for-sale assets | ||
| Non-current assets due within one year | ||
| Other current assets | 5,615,966.70 | 1,297,388.01 |
| Total Current Assets | 1,687,690,062.65 | 1,650,582,899.16 |
| Non-current Assets: | ||
| Debt investments | ||
| Other debt investments | ||
| Long-term receivables | 13,346,016.87 | 13,196,087.78 |
| Long-term equity investments | 429,504,292.59 | 421,648,284.99 |
| Other equity instrument investments | 7,075,419.38 | 7,075,419.38 |
| Other non-current financial assets | ||
| Investment properties | ||
| Fixed assets | 55,118,118.21 | 57,409,189.33 |
| Construction in progress | 48,809,198.03 | 37,982,329.74 |
| Bearer biological assets | ||
| Oil and gas assets | ||
| Right-of-use assets | 26,691,714.81 | |
| Intangible assets | 316,061,047.33 | 319,438,893.42 |
| Development expenditure | ||
| Goodwill | ||
| Long-term prepaid expenses | 8,275,720.51 | 9,562,162.36 |
| Deferred tax assets | 7,634,208.87 | 6,680,188.67 |
| Other non-current assets | 8,395,908.82 | 5,411,561.28 |
| Total Non-current Assets | 920,911,645.42 | 878,404,116.95 |
| Total assets | 2,608,601,708.07 | 2,528,987,016.11 |
| Current Liabilities: | ||
| Short-term borrowings | 11,536,776.87 | 11,410,560.27 |
| Held-for-trading financial liabilities | ||
| Derivative financial liabilities | ||
| Notes payable | 32,786,074.03 | 32,313,678.21 |
| Accounts payable | 215,115,270.39 | 210,885,240.65 |
| Receipts in advance | 2,729,498.87 | 2,688,210.54 |
| Contract liabilities | 20,173,585.14 | 20,609,190.34 |
| Employee benefits payable | 12,291,006.80 | 28,514,763.09 |
| Taxes payable | 9,749,372.53 | 5,830,858.89 |
| Other payables | 38,492,286.58 | 23,058,804.83 |
| Including: Interest payable | ||
| Dividends payable | ||
| Held-for-sale liabilities | ||
| Non-current liabilities due within one year | 1,000,931.51 | 1,001,024.66 |
| Other current liabilities | 1,362,729.94 | 1,918,391.60 |
| Total Current Liabilities | 345,237,532.66 | 338,230,723.08 |
| Non-current Liabilities: | ||
| Long-term borrowings | 29,027,013.70 | 29,029,715.07 |
| Bonds payable | ||
| Including: Preferred shares | ||
| Perpetual bonds | ||
| Leasing liabilities | 28,714,490.82 | |
| Long-term payables | 3,285,650.00 | 3,262,450.00 |
| Long-term employee benefits payable | ||
| Provisions | 17,309,231.09 | 16,345,891.60 |
| Deferred income | 14,663,632.78 | 14,450,411.10 |
| Deferred tax liabilities | ||
| Other non-current liabilities | ||
| Total Non-current Liabilities | 93,000,018.39 | 63,088,467.77 |
| Total Liabilities | 438,237,551.05 | 401,319,190.85 |
| Owners’ (or Shareholders’) equity: | ||
| Paid-in capital (or share capital) | 452,756,901.00 | 452,756,901.00 |
| Other equity instruments | ||
| Including: Preferred shares | ||
| Perpetual bonds | ||
| Capital reserve | 1,354,543,757.17 | 1,351,261,718.84 |
| Less: Treasury shares | ||
| Other comprehensive income | ||
| Special reserve | ||
| Surplus reserve | 33,964,638.84 | 33,964,638.84 |
| Retained profits | 329,098,860.01 | 289,684,566.58 |
| Total Owners’ (or Shareholders’) Equity | 2,170,364,157.02 | 2,127,667,825.26 |
| Total Liabilities and Owners’ (or Shareholders’) Equity | 2,608,601,708.07 | 2,528,987,016.11 |
Legal Representative: Person in Charge of the Accounting Body: Chief Accountant:
BO Lianming ZHAO Ruijin LIU Jie
Consolidated Income StatementFor the period from January 1, 2021 to March 31, 2021Prepared by: Appotronics Corporation Limited
In RMB, Unaudited
| Item | The First Quarter in 2021 | The First Quarter in 2020 |
| I. Total operating income | 524,967,989.26 | 306,900,748.84 |
| Including: Operating income | 524,967,989.26 | 306,900,748.84 |
| Interest income | ||
| Premiums earned | ||
| Fee and commission income | ||
| II. Total operating costs | 468,379,392.92 | 312,526,014.17 |
| Including: Operating costs | 352,723,171.28 | 205,113,820.04 |
| Interest expenses | ||
| Fee and commission expenses | ||
| Surrenders | ||
| Claims and policyholder benefits (net of amounts recoverable from reinsurers) | ||
| Net withdrawal of insurance contract reserves | ||
| Insurance policyholder dividends | ||
| Expenses for reinsurance accepted | ||
| Taxes and levies | 2,289,691.36 | 848,964.73 |
| Selling expenses | 36,732,891.97 | 24,522,520.30 |
| Administrative expenses | 32,052,318.68 | 34,641,364.44 |
| R&D expenses | 44,555,558.17 | 43,759,224.20 |
| Financial expenses | 25,761.46 | 3,640,120.46 |
| Including: Interest expense | 5,017,702.98 | 5,974,996.52 |
| Interest income | 5,330,089.31 | 2,452,836.80 |
| Add: other income | 14,353,842.94 | 13,967,683.29 |
| Investment income (loss is indicated by “-”) | 4,546,382.37 | 6,951,747.26 |
| Including: Income from investments in associates and joint ventures | 3,610,502.91 | 719,638.49 |
| Gains from derecognition of financial assets at amortized assets | ||
| Foreign exchange gains (loss is indicated by “-”) | ||
| Gains from net exposure hedges (loss is indicated by “-”) | ||
| Gains from changes in fair values (loss is indicated by “-”) | ||
| Losses of credit impairment (loss is indicated by “-”) | 7,707,743.19 | 3,178,689.54 |
| Impairment losses of assets (loss is indicated by “-”) | -1,714,867.75 | -4,230,773.80 |
| Gains from disposal of assets (loss is indicated by “-”) | 2,806,103.11 | 0.00 |
| III. Operating profit (loss is indicated by “-”) | 84,287,800.20 | 14,242,080.96 |
| Add: Non-operating income | 438,003.45 | 17,320.21 |
| Less: Non-operating expenses | 74,302.34 | 375,729.00 |
| IV. Total profits (total losses are indicated by “-”) | 84,651,501.31 | 13,883,672.17 |
| Less: Income tax expenses | 20,220,441.99 | 6,583,959.00 |
| V. Net profits (net losses are indicated by “-”) | 64,431,059.32 | 7,299,713.17 |
| (I) Categorized by the continuity of operation | ||
| 1. Net profits from continuing operations (net losses are indicated by “-”) | 64,431,059.32 | 7,299,713.17 |
| 2. Net profits from discontinued operations (net losses are indicated by “-”) | ||
| (II) Categorized by the ownership | ||
| 1.Net profits attributable to shareholders of the Parent Company (net losses are indicated by “-”) | 54,409,294.00 | 13,322,216.29 |
| 2. Profits or losses attributable to minority shareholders (net losses are | 10,021,765.32 | -6,022,503.12 |
| indicated by “-”) | ||
| VI. Other comprehensive income, net of tax | -1,030,020.03 | 3,832,339.57 |
| (I) Other comprehensive income that can be attributable to owners of the Parent Company, net of tax | -1,018,143.17 | 3,797,318.81 |
| 1. Other comprehensive income that cannot be reclassified subsequently to profit or loss | ||
| (1) Changes from remeasurement of defined benefit plans | ||
| (2) Other comprehensive income that cannot be reclassified to profit or loss under the equity method | ||
| (3) Changes in fair value of investments in other equity instruments | ||
| (4) Changes in fair value of enterprises’ own credit risks | ||
| 2.Other comprehensive income that will be reclassified to profit or loss | -1,018,143.17 | 3,797,318.81 |
| (1) Other comprehensive income that will be reclassified to profit or loss under the equity method | ||
| (2) Changes in fair value of other debt investments | ||
| (3) Amount of financial assets reclassified to other comprehensive income | ||
| (4) Provision for credit impairment of other debt investments | ||
| (5) Reserve for cash flow hedges | ||
| (6) Exchange differences on translation of financial statements denominated in foreign currencies | -1,018,143.17 | 3,797,318.81 |
| (7) Others | ||
| (II) Other comprehensive income that can be attributable to minority shareholders, net of tax | -11,876.86 | 35,020.76 |
| VII. Total comprehensive income | 63,401,039.29 | 11,132,052.74 |
| (I) Total comprehensive income that can be attributable to owners of the Parent Company | 53,391,150.83 | 17,119,535.10 |
| (II) Total comprehensive income that can be attributable to minority shareholders | 10,009,888.46 | -5,987,482.36 |
| VIII. Earnings per share: |
| (I) Basic earnings per share (RMB/share) | 0.12 | 0.03 |
| (II) Diluted earnings per share (RMB/share) | 0.12 | 0.03 |
Legal Representative: Person in Charge of the Accounting Body: Chief Accountant:
BO Lianming ZHAO Ruijin LIU Jie
Income Statement of the Parent CompanyFor the period from January 1, 2021 to March 31, 2021Prepared by: Appotronics Corporation Limited
In RMB, Unaudited
| Item | The First Quarter in 2021 | The First Quarter in 2020 |
| I. Operating income | 247,193,016.87 | 149,314,735.41 |
| Less: Operating costs | 165,891,742.11 | 95,623,590.51 |
| Taxes and levies | 1,637,131.20 | 414,212.02 |
| Selling expenses | 15,615,494.24 | 14,007,454.17 |
| Administrative expenses | 19,551,600.41 | 24,524,700.83 |
| R&D expenses | 21,644,886.28 | 25,612,027.29 |
| Financial expenses | -7,184,764.59 | -3,569,835.96 |
| Including: Interest expense | 645,266.97 | 13,174.14 |
| Interest income | 7,907,864.77 | 3,279,548.30 |
| Add: other income | 9,813,752.75 | 11,797,618.37 |
| Investment income (loss is indicated by “-”) | 6,993,373.94 | 6,232,108.77 |
| Including: Income from investments in associates and joint ventures | ||
| Gains from derecognition of financial assets at amortized assets | ||
| Gains from net exposure hedges (loss is indicated by “-”) | ||
| Gains from changes in fair values (loss is indicated by “-”) | ||
| Losses of credit impairment (loss is indicated by “-”) | -497,968.57 | 175,684.06 |
| Impairment losses of assets (loss is indicated by “-”) | -786,039.04 | -3,221,027.46 |
| Gains from disposal of assets (loss is indicated by “-”) | ||
| II. Operating profit (loss is indicated by “-”) | 45,560,046.30 | 7,686,970.29 |
| Add: Non-operating income | 409,000.36 | 17,318.89 |
| Less: Non-operating expenses | 63,863.17 | 14,740.59 |
| III. Total profits (total losses are indicated by “-”) | 45,905,183.49 | 7,689,548.59 |
| Less: Income tax expenses | 6,840,127.78 | 4,080,448.28 |
| VI. Net profits (net losses are indicated by “-”) | 39,065,055.71 | 3,609,100.31 |
| (I) Net profits from continuing operations (net losses are indicated by “-”) | 39,065,055.71 | 3,609,100.31 |
| (II) Net profits from discontinued operations (net losses are indicated by “-”) | ||
| V. Other comprehensive income, net of tax | ||
| (I) Other comprehensive income that cannot be reclassified subsequently to profit or loss | ||
| 1.Changes from remeasurement of defined benefit plans | ||
| 2. Other comprehensive income that cannot be reclassified to profit or loss under the equity method | ||
| 3.Changes in fair value of investments in other equity instruments | ||
| 4.Changes in fair value of enterprises’ own credit risks | ||
| (II) Other comprehensive income that will be reclassified to profit or loss | ||
| 1. Other comprehensive income that will be reclassified to profit or loss under the equity method | ||
| 2. Changes in fair value of other debt investments | ||
| 3. Amount of financial assets reclassified to other comprehensive income | ||
| 4.Provision for credit impairment of other debt investments | ||
| 5. Reserve for cash flow hedges | ||
| 6. Exchange differences on translation of financial statements denominated in foreign currencies | ||
| 7. Others | ||
| VI. Total comprehensive income | 39,065,055.71 | 3,609,100.31 |
| VII. Earnings per share: | ||
| (I) Basic earnings per share (RMB/share) | ||
| (II) Diluted earnings per share (RMB/share) |
Legal Representative: Person in Charge of the Accounting Body: Chief Accountant:
BO Lianming ZHAO Ruijin LIU Jie
Consolidated Cash Flow StatementFor the period from January 1, 2021 to March 31, 2021Prepared by: Appotronics Corporation Limited
In RMB, Unaudited
| Item | The First Quarter in 2021 | The First Quarter in 2020 |
| I. Cash Flows from Operating Activities: | ||
| Cash receipts from the sale of goods and the rendering of services | 747,962,281.72 | 397,384,359.17 |
| Net increase in customer deposits and deposits from banks and other financial institutions | ||
| Net increase in loans from the central bank | ||
| Net increase in taking from banks and other financial institutions | ||
| Cash receipts from premiums under direct insurance contracts | ||
| Net cash receipts from reinsurance business | ||
| Net cash receipts from policyholders’ deposits and investment contract liabilities | ||
| Cash receipts from interest, fees and commissions | ||
| Net increase in taking from banks | ||
| Net increase in financial assets sold under repurchase arrangements | ||
| Net cash received from securities trading agencies | ||
| Receipts of tax refunds | 975,787.81 | 2,267,811.01 |
| Other cash receipts relating to operating activities | 35,073,661.68 | 34,991,984.03 |
| Sub-total of cash inflows from operating activities | 784,011,731.21 | 434,644,154.21 |
| Cash payments for goods purchased and services received | 498,775,867.34 | 298,323,599.64 |
| Net increase in loans and advances to customers | ||
| Net increase in balance with the central bank and due from banks and |
| other financial institutions | ||
| Cash payments for claims and policyholders’ benefits under direct insurance contracts | ||
| Net increase in placements with banks and other financial institutions | ||
| Cash payments for interest, fees and commissions | ||
| Cash payments for insurance policyholder dividends | ||
| Cash payments to and on behalf of employees | 96,357,835.55 | 99,940,689.15 |
| Payments of various types of taxes | 22,526,122.46 | 35,918,878.89 |
| Other cash payments relating to operating activities | 60,128,643.98 | 38,750,172.08 |
| Sub-total of cash outflows from operating activities | 677,788,469.33 | 472,933,339.76 |
| Net cash flow from operating activities | 106,223,261.88 | -38,289,185.55 |
| II. Cash Flows from Investing Activities: | ||
| Cash receipts from disposals and recovery of investments | 114,000,000.00 | 540,000,000.00 |
| Cash receipts from investment income | 935,882.46 | 6,232,108.77 |
| Net cash receipts from disposals of fixed assets, intangible assets and other long-term assets | 2,281.47 | |
| Net cash receipts from disposals of subsidiaries and other business units | ||
| Other cash receipts relating to investing activities | ||
| Sub-total of cash inflows from investing activities | 114,935,882.46 | 546,234,390.24 |
| Cash payments to acquire or construct fixed assets, intangible assets and other long-term assets | 14,262,405.92 | 4,994,345.94 |
| Cash payments to acquire investments | 148,048,387.32 | 485,000,000.00 |
| Net increase in pledged loans receivables | ||
| Net cash payments for acquisitions of subsidiaries and other business units | ||
| Other cash payments relating to investing activities |
| Sub-total of cash outflows from investing activities | 162,310,793.24 | 489,994,345.94 |
| Net cash flow from investing activities | -47,374,910.78 | 56,240,044.30 |
| III. Cash Flows from Financing Activities: | ||
| Cash receipts from capital contributions | 22,500,000.00 | |
| Including: cash receipts from capital contributions from minority shareholders of subsidiaries | ||
| Cash receipts from borrowings | 61,489,331.60 | 31,049,660.15 |
| Other cash receipts relating to financing activities | ||
| Sub-total of cash inflows from financing activities | 83,989,331.60 | 31,049,660.15 |
| Cash repayments of borrowings | 87,595,777.45 | 77,790,695.10 |
| Cash payments for distribution of dividends or profits or settlement of interest expenses | 4,677,974.98 | 6,267,847.69 |
| Including: payments for distribution of dividends or profits to minority shareholders of subsidiaries | ||
| Other cash payments relating to financing activities | 23,777,056.92 | |
| Sub-total of cash outflows from financing activities | 116,050,809.35 | 84,058,542.79 |
| Net cash flow from financing activities | -32,061,477.75 | -53,008,882.64 |
| IV. Effect of Foreign Exchange Rate Changes on Cash and Cash Equivalents | 670,024.42 | 419,408.45 |
| V. Net Increase in Cash and Cash Equivalents | 27,456,897.77 | -34,638,615.44 |
| Add: Opening balance of cash and cash equivalents | 983,525,089.44 | 829,789,487.86 |
| VI. Closing Balance of Cash and Cash Equivalents | 1,010,981,987.21 | 795,150,872.42 |
Legal Representative: Person in Charge of the Accounting Body: Chief Accountant:
BO Lianming ZHAO Ruijin LIU Jie
Cash Flow Statement of the Parent CompanyFor the period from January 1, 2021 to March 31, 2021Prepared by: Appotronics Corporation Limited
In RMB, Unaudited
| Item | The First Quarter in 2021 | The First Quarter in 2020 | |
| I. Cash Flows from Operating Activities: | |||
| Cash receipts from the sale of goods and the rendering of services | 313,008,619.07 | 175,632,699.35 | |
| Receipts of tax refunds | 226,499.93 | 1,258,598.52 | |
| Other cash receipts relating to operating activities | 84,336,914.41 | 69,010,030.52 | |
| Sub-total of cash inflows from operating activities | 397,572,033.41 | 245,901,328.39 | |
| Cash payments for goods purchased and services received | 224,490,459.68 | 148,745,453.42 | |
| Cash payments to and on behalf of employees | 56,702,483.19 | 58,149,160.99 | |
| Payments of various types of taxes | 16,254,097.23 | 2,326,794.97 | |
| Other cash payments relating to operating activities | 23,852,409.59 | 59,079,296.15 | |
| Sub-total of cash outflows from operating activities | 321,299,449.69 | 268,300,705.53 | |
| Net cash flow from operating activities | 76,272,583.72 | -22,399,377.14 | |
| II. Cash Flows from Investing Activities: | |||
| Cash receipts from disposals and recovery of investments | 141,500,000.00 | 540,000,000.00 | |
| Cash receipts from investment income | 935,882.46 | 6,232,108.77 | |
| Net cash receipts from disposals of fixed assets, intangible assets and other long-term assets | - | 2,281.47 | |
| Net cash receipts from disposals of subsidiaries and other business units | - | ||
| Other cash receipts relating to investing activities | - | ||
| Sub-total of cash inflows from investing activities | 142,435,882.46 | 546,234,390.24 | |
| Cash payments to acquire or construct fixed assets, intangible assets and other | 6,947,304.17 | 3,965,789.67 | |
| long-term assets | ||
| Cash payments to acquire investments | 152,932,903.47 | 616,213,540.00 |
| Net cash payments for acquisitions of subsidiaries and other business units | - | |
| Other cash payments relating to investing activities | - | |
| Sub-total of cash outflows from investing activities | 159,880,207.64 | 620,179,329.67 |
| Net cash flow from investing activities | -17,444,325.18 | -73,944,939.43 |
| III. Cash Flows from Financing Activities: | ||
| Cash receipts from capital contributions | ||
| Cash receipts from borrowings | 20,000,000.00 | |
| Other cash receipts relating to financing activities | ||
| Sub-total of cash inflows from financing activities | 20,000,000.00 | |
| Cash repayments of borrowings | 10,000,000.00 | |
| Cash payments for distribution of dividends or profits or settlement of interest expenses | 257,833.33 | 230,912.50 |
| Other cash payments relating to financing activities | 4,153,690.92 | |
| Sub-total of cash outflows from financing activities | 4,411,524.25 | 10,230,912.50 |
| Net cash flow from financing activities | -4,411,524.25 | 9,769,087.50 |
| IV. Effect of Foreign Exchange Rate Changes on Cash and Cash Equivalents | 123,744.92 | -327,571.48 |
| V. Net Increase in Cash and Cash Equivalents | 54,540,479.21 | -86,902,800.55 |
| Add: Opening balance of cash and cash equivalents | 666,628,105.82 | 524,648,100.62 |
| VI. Closing Balance of Cash and Cash Equivalents | 721,168,585.03 | 437,745,300.07 |
Legal Representative: Person in Charge of the Accounting Body: Chief Accountant:
BO Lianming ZHAO Ruijin LIU Jie
4.2 Description of adjustments in opening balances of line items in financial statements of the year dueto the implementation of new revenue standard and new lease standard since 2021
√Applicable ? N/A
Consolidated Balance Sheet
In RMB
| Item | December 31, 2020 | January 1, 2021 | Adjusted amount |
| Current Assets: | |||
| Cash and bank balances | 1,037,760,573.27 | 1,037,760,573.27 | |
| Balances with clearing agencies | |||
| Placements with banks and other financial institutions | |||
| Held-for-trading financial assets | 114,000,000.00 | 114,000,000.00 | |
| Derivative financial assets | |||
| Notes receivable | 3,726,328.91 | 3,726,328.91 | |
| Accounts receivable | 341,660,832.43 | 341,660,832.43 | |
| Receivables financing | 11,959,000.00 | 11,959,000.00 | |
| Prepayments | 47,447,601.43 | 49,174,631.52 | 1,727,030.09 |
| Premiums receivable | |||
| Amounts receivable under reinsurance contracts | |||
| Reinsurer’s share of insurance contract reserves | |||
| Other receivables | 12,534,062.15 | 12,534,062.15 | |
| Including: Interest receivable | |||
| Dividends receivable | |||
| Financial assets purchased under resale agreements | |||
| Inventories | 418,812,140.80 | 418,812,140.80 | |
| Contract assets | 3,744,655.50 | 3,744,655.50 | |
| Held-for-sale assets | |||
| Non-current assets due within one year | |||
| Other current assets | 13,002,195.46 | 13,002,195.46 | |
| Total Current Assets | 2,004,647,389.95 | 2,006,374,420.04 | 1,727,030.09 |
| Non-current Assets: | |||
| Loans and advances | |||
| Debt investments | |||
| Other debt investments | |||
| Long-term receivables | 13,196,087.78 | 13,196,087.78 | |
| Long-term equity investments | 262,744,772.48 | 262,744,772.48 | |
| Other equity instrument investments | 11,975,419.38 | 11,975,419.38 | |
| Other non-current financial assets | |||
| Investment properties | |||
| Fixed assets | 447,571,328.91 | 447,571,328.91 | |
| Construction in progress | 51,576,850.72 | 51,576,850.72 | |
| Bearer biological assets | |||
| Oil and gas assets | |||
| Right-of-use assets | 39,368,070.17 | 39,368,070.17 | |
| Intangible assets | 320,488,235.60 | 320,488,235.60 | |
| Development expenditure | |||
| Goodwill | |||
| Long-term prepaid expenses | 11,572,346.79 | 11,572,346.79 | |
| Deferred tax assets | 96,132,114.02 | 96,455,790.38 | 323,676.36 |
| Other non-current assets | 6,299,781.06 | 6,299,781.06 | |
| Total Non-current Assets | 1,221,556,936.74 | 1,261,248,683.27 | 39,691,746.53 |
| Total assets | 3,226,204,326.69 | 3,267,623,103.31 | 41,418,776.62 |
| Current Liabilities: | |||
| Short-term borrowings | 88,778,852.86 | 88,778,852.86 | |
| Loans from the central bank | |||
| Taking from banks and other financial institutions | |||
| Held-for-trading financial liabilities | |||
| Derivative financial liabilities | |||
| Notes payable | 116,822,674.67 | 116,822,674.67 | |
| Accounts payable | 226,494,815.90 | 226,494,815.90 | |
| Receipts in advance | 153,258,189.88 | 153,258,189.88 | |
| Contract liabilities | 31,518,312.59 | 31,518,312.59 | |
| Financial assets sold under repurchase agreements | |||
| Customer deposits and deposits from banks and other financial institutions | |||
| Funds from securities trading agency | |||
| Funds from underwriting securities agency | |||
| Employee benefits payable | 46,105,566.15 | 46,105,566.15 | |
| Taxes payable | 19,871,846.94 | 19,871,846.94 | |
| Other payables | 59,848,053.83 | 58,821,952.01 | -1,026,101.82 |
| Including: Interest payable | |||
| Dividends payable | |||
| Fees and commissions payable | |||
| Amounts payable under reinsurance contracts | |||
| Held-for-sale liabilities | |||
| Non-current liabilities due within one year | 181,417,412.46 | 181,417,412.46 | |
| Other current liabilities | 3,045,831.07 | 3,045,831.07 | |
| Total Current Liabilities | 927,161,556.35 | 926,135,454.53 | -1,026,101.82 |
| Non-current Liabilities: | |||
| Insurance contract reserves | |||
| Long-term borrowings | 64,845,281.53 | 64,845,281.53 | |
| Bonds payable | |||
| Including: Preferred shares | |||
| Perpetual bonds | |||
| Leasing liabilities | 42,411,856.75 | 42,411,856.75 | |
| Long-term payables | 3,262,450.00 | 3,262,450.00 | |
| Long-term employee benefits payable | |||
| Provisions | 28,799,354.65 | 28,799,354.65 | |
| Deferred income | 16,723,257.15 | 16,723,257.15 | |
| Deferred tax liabilities | |||
| Other non-current liabilities | |||
| Total Non-current Liabilities | 113,630,343.33 | 156,042,200.08 | 42,411,856.75 |
| Total Liabilities | 1,040,791,899.68 | 1,082,177,654.61 | 41,385,754.93 |
| Owners’ (or Shareholders’) equity: | |||
| Paid-in capital (or share capital) | 452,756,901.00 | 452,756,901.00 | |
| Other equity instruments | |||
| Including: Preferred shares | |||
| Perpetual bonds | |||
| Capital reserve | 1,249,020,991.15 | 1,249,020,991.15 | |
| Less: Treasury shares | |||
| Other comprehensive income | -3,214,291.93 | -3,214,291.93 | |
| Special reserve | |||
| Surplus reserve | 35,242,179.57 | 35,242,179.57 | |
| General risk reserve | |||
| Retained profits | 357,793,891.96 | 357,838,162.29 | 44,270.33 |
| Total Owners’ (or Shareholders’) Equity Attributable to Owners of the Parent Company | 2,091,599,671.75 | 2,091,643,942.08 | 44,270.33 |
| Minority interests | 93,812,755.26 | 93,801,506.62 | -11,248.64 |
| Total Owners’ (or Shareholders’) Equity | 2,185,412,427.01 | 2,185,445,448.70 | 33,021.69 |
| Total Liabilities and Owners’ (or Shareholders’) Equity | 3,226,204,326.69 | 3,267,623,103.31 | 41,418,776.62 |
Description of adjustments on each item:
√Applicable □ N/A
The Company, as implemented the new lease standard since January 1, 2021, adjusted the openingbalance of relevant line items in the financial statements of the first implementation year according toamount that have been affected by the first implementation of the new lease standard.
| Item | December 31, 2020 | January 1, 2021 | Adjusted amount |
| Prepayments | 47,447,601.43 | 49,174,631.52 | 1,727,030.09 |
| Right-of-use assets | 39,368,070.17 | 39,368,070.17 | |
| Deferred tax assets | 96,132,114.02 | 96,455,790.38 | 323,676.36 |
| Other payables | 59,848,053.83 | 58,821,952.01 | -1,026,101.82 |
| Lease liabilities | 42,411,856.75 | 42,411,856.75 | |
| Retained profits | 357,793,891.96 | 357,838,162.29 | 44,270.33 |
| Minority interests | 93,812,755.26 | 93,801,506.62 | -11,248.64 |
Balance Sheet of the Parent Company
In RMB
| Item | December 31, 2020 | January 1, 2021 | Adjusted amount |
| Current Assets: | |||
| Cash and bank balances | 709,932,686.71 | 709,932,686.71 | |
| Held-for-trading financial assets | 114,000,000.00 | 114,000,000.00 | |
| Derivative financial assets | |||
| Notes receivable | 2,314,628.91 | 2,314,628.91 | |
| Accounts receivable | 567,539,506.79 | 567,539,506.79 | |
| Receivables financing | 100,000.00 | 100,000.00 | |
| Prepayments | 11,001,439.23 | 13,163,045.06 | 2,161,605.83 |
| Other receivables | 71,654,117.57 | 71,654,117.57 | |
| Including: Interest receivable | |||
| Dividends receivable | |||
| Inventories | 169,022,971.44 | 169,022,971.44 | |
| Contract assets | 3,720,160.50 | 3,720,160.50 | |
| Held-for-sale assets | |||
| Non-current assets due within one year | |||
| Other current assets | 1,297,388.01 | 1,297,388.01 | |
| Total Current Assets | 1,650,582,899.16 | 1,652,744,504.99 | 2,161,605.83 |
| Non-current Assets: | |||
| Debt investments | |||
| Other debt investments | |||
| Long-term receivables | 13,196,087.78 | 13,196,087.78 | |
| Long-term equity investments | 421,648,284.99 | 421,648,284.99 | |
| Other equity instrument investments | 7,075,419.38 | 7,075,419.38 | |
| Other non-current financial assets | |||
| Investment properties | |||
| Fixed assets | 57,409,189.33 | 57,409,189.33 | |
| Construction in progress | 37,982,329.74 | 37,982,329.74 | |
| Bearer biological assets | |||
| Oil and gas assets | |||
| Right-of-use assets | 29,494,047.23 | 29,494,047.23 | |
| Intangible assets | 319,438,893.42 | 319,438,893.42 | |
| Development expenditure | |||
| Goodwill | |||
| Long-term prepaid expenses | 9,562,162.36 | 9,562,162.36 | |
| Deferred tax assets | 6,680,188.67 | 7,000,018.34 | 319,829.67 |
| Other non-current assets | 5,411,561.28 | 5,411,561.28 | |
| Total Non-current Assets | 878,404,116.95 | 908,217,993.85 | 29,813,876.90 |
| Total assets | 2,528,987,016.11 | 2,560,962,498.84 | 31,975,482.73 |
| Current Liabilities: | |||
| Short-term borrowings | 11,410,560.27 | 11,410,560.27 | |
| Held-for-trading financial liabilities | |||
| Derivative financial liabilities | |||
| Notes payable | 32,313,678.21 | 32,313,678.21 | |
| Accounts payable | 210,885,240.65 | 210,885,240.65 | |
| Receipts in advance | 2,688,210.54 | 2,688,210.54 | |
| Contract liabilities | 20,609,190.34 | 20,609,190.34 | |
| Employee benefits payable | 28,514,763.09 | 28,514,763.09 | |
| Taxes payable | 5,830,858.89 | 5,830,858.89 | |
| Other payables | 23,058,804.83 | 23,058,804.83 | |
| Including: Interest payable | |||
| Dividends payable | |||
| Held-for-sale liabilities | |||
| Non-current liabilities due within one year | 1,001,024.66 | 1,001,024.66 | |
| Other current liabilities | 1,918,391.60 | 1,918,391.60 | |
| Total Current Liabilities | 338,230,723.08 | 338,230,723.08 | |
| Non-current Liabilities: | |||
| Long-term borrowings | 29,029,715.07 | 29,029,715.07 | |
| Bonds payable | |||
| Including: Preferred shares | |||
| Perpetual bonds | |||
| Leasing liabilities | 31,626,245.01 | 31,626,245.01 | |
| Long-term payables | 3,262,450.00 | 3,262,450.00 | |
| Long-term employee benefits payable | |||
| Provisions | 16,345,891.60 | 16,345,891.60 | |
| Deferred income | 14,450,411.10 | 14,450,411.10 | |
| Deferred tax liabilities | |||
| Other non-current liabilities | |||
| Total Non-current Liabilities | 63,088,467.77 | 94,714,712.78 | 31,626,245.01 |
| Total Liabilities | 401,319,190.85 | 432,945,435.86 | 31,626,245.01 |
| Owners’ (or Shareholders’) equity: | |||
| Paid-in capital (or share capital) | 452,756,901.00 | 452,756,901.00 | |
| Other equity instruments | |||
| Including: Preferred shares | |||
| Perpetual bonds | |||
| Capital reserve | 1,351,261,718.84 | 1,351,261,718.84 | |
| Less: Treasury shares | |||
| Other comprehensive income | |||
| Special reserve | |||
| Surplus reserve | 33,964,638.84 | 33,964,638.84 | |
| Retained profits | 289,684,566.58 | 290,033,804.30 | 349,237.72 |
| Total Owners’ (or Shareholders’) Equity | 2,127,667,825.26 | 2,128,017,062.98 | 349,237.72 |
| Total Liabilities and Owners’ (or Shareholders’) Equity | 2,528,987,016.11 | 2,560,962,498.84 | 31,975,482.73 |
Description of adjustments on each item:
√Applicable □ N/A
The Company, as implemented the new lease standard since January 1, 2021, adjusted the openingbalance of relevant line items in the financial statements of the first implementation year according toamount that have been affected by the first implementation of the new lease standard.
| Item | December 31, 2020 | January 1, 2021 | Adjusted amount |
| Prepayments | 11,001,439.23 | 13,163,045.06 | 2,161,605.83 |
| Right-of-use assets | 29,494,047.23 | 29,494,047.23 |
| Deferred tax assets | 6,680,188.67 | 7,000,018.34 | 319,829.67 |
| Lease liabilities | 31,626,245.01 | 31,626,245.01 | |
| Retained profits | 289,684,566.58 | 290,033,804.30 | 349,237.72 |
4.3 Description of retrospective adjustments in comparable data for previous periods upon the firstadoption of the new revenue standard and new lease standard since 2021
□ Applicable √ N/A
4.4 Auditor’s report
□ Applicable √ N/A