Stock Code: 600057 Abbreviation of Stock: Xiamen Xiangyu
Xiamen Xiangyu Co., Ltd.Report for Third Quarter of 2022
The Board of Directors and all Directors of the Company shall guarantee that there is nofalse recordation, misleading statement, or material omission in contents of thisAnnouncement, and shall assume the legal liability for authenticity, accuracy andcompleteness of such contents.
Notes to Important Items:
The Board of directors, the Board of Supervisors, as well as Directors, Supervisors and SeniorManagement of the Company shall guarantee the authenticity, accuracy, and completeness ofthe contents of the Quarterly Report without any false recordation, misleading statement, ormaterial omission, and shall assume the joint and several legal liabilities.
The person in charge of the Company, the person in charge of financial affairs, and the leadingmember of the accounting body (The person in charge of accounting) shall guarantee theauthenticity, accuracy and completeness of the financial information in the Quarterly Report.
Whether the financial statements for the third quarter are audited or not
□ Yes √ No
I. Key financial dataIn the first three quarters of 2022, the Company achieves the operating income in the amount ofRMB 391.8 billion, up 13.74% YoY; achieves the net profit attributable to the shareholders of theparent company in the amount of RMB 2.17 billion, up 31.23% YoY; achieves the return on equityof 15.26%, up 1.91 percentage points YoY; achieves the sales gross margin of 2.28%, up 0.02percentage points YoY; achieves the net profit margin of 0.78%, up 0.16 percentage points YoY.The Company’s operating income and net profit attributable to the shareholders of the parentcompany both hit a record high in this period, and the Company continues to improve theoperation efficiency.During the reporting period, due to the repeated outbreak of COVID-19 epidemic, the intensityof geopolitical situation, and the fluctuation in commodity price, higher requirements are madefor the ability of the bulk supply chain enterprises to operate, manage, and control risks. In theface of multiple challenges, the Company maintains strategic focus, continues to optimizecustomer structure, enrich commodity portfolio, consolidate logistics support, improve risk
control system, and effectively cope with industrial cycle fluctuations and external risks. On thisbasis, the Company seizes opportunities to expand market share, tap potential businessopportunities, and ensure the stability of the overall operation.In terms of customer structure, in combination with its own strategic positioning andcharacteristics of business model, the Company takes the large and medium-sizedmanufacturing enterprises as its main target customer group with the service volume for themaccounting for more than 50%. Among them, the service volume for the manufacturingenterprises of the ferrous metal supply chain accounts for more than 60%, that for themanufacturing enterprises of the stainless steel supply chain accounts for more than 70%, thatfor the manufacturing enterprises of the new energy supply chain accounts for more than 90%.With the low risk of default, the manufacturing enterprises’ needs of diversified and stable supplychain services lay a solid foundation for stable growth of the Company.In terms of commodity portfolio, the Company achieves the bulk commodity business segmentin the cargo volume of 141 million tons, remaining a stable status YoY; achieves the operatingincome in the amount of RMB 378.6 billion, up 12.99% YoY; achieves the gross profit in theamount of RMB 7.18 billion, up 6.11% YoY. The Company adheres to the philosophy of “whole-industry service”, expands high value-added products, and achieves the significant growth inoperating performance of aluminum supply chain, new energy supply chain, and soybean supplychain, among which the operating income from new energy supply chain reaches RMB 14.7billion, up 151% YoY; achieves the gross profit of RMB 385 million, up 245% YoY.In terms of logistics support, the Company achieves the operating income from bulk commoditylogistics segment in the amount of RMB 5.82 billion, up 7.71% YoY; achieves the gross profit inthe amount of RMB 754 million, up 20.22% YoY. In reliance on the networked logistics servicesystem covering the whole country and connecting to overseas, the Company providescustomers with multimodal transportation solutions, achieving the substantial growth in freightvolume of bulk cargo in the Yangtze River Basin and the domestic coastal areas, and in thefreight volume of “China-Vietnam, China-Thailand” routes. The Company achieves the operatingincome from comprehensive logistics in the amount of RMB 4.76 billion, up 14.06% YoY; andthe gross profit in the amount of RMB 450 million, up 27.61% YoY.In terms of risk management and control, after the transformation from “traditional trader” to“supply chain service provider”, the risk exposure of the Company is largely reduced and the riskbecomes more controllable. On this basis, by increasing the proportion of manufacturingenterprises (from the perspective of customers), optimizing the product portfolio (from theperspective of commodities), upgrading the business model (from the perspective of models),and improving the risk control system (from the perspective of management and control), theCompany forms a combination of measures to manage and control risks effectively, and ensurethe stability of operation.Looking to the future, the Company will anchor the strategic vision of “become the leadingenterprise in the bulk supply chain industry and a world-class supply chain service enterprise”,and continue to optimize the customer structure and product portfolio mix, improve risk controlsystem, deepen the business model with the focus on the “whole industry chain service” and theprofitability model with the focus on the “service income”, improve the level of comprehensiveincome, and strive to over-fulfil the annual operation objective for 2022.
(1) Key accounting data and financial indicators
Unit: million Yuan Currency: RMB
| Item | Current reporting period | Changes on a YoY basis (%) | From beginning of the year to end of the reporting period | Changes on a YoY basis (%) |
| Operating income | 137,607.92 | 8.49 | 391,758.58 | 13.74 |
| Net profit attributable to shareholders of the listed company | 807.04 | 55.51 | 2,173.45 | 31.23 |
| Net profit attributable to shareholders of the listed company after deducting the non-recurring profit and loss | 990.43 | 67.90 | 2,495.82 | 41.77 |
| Net cash flow from operating activities | Not applicable | Not applicable | -3,711.88 | Not applicable |
| Basic earnings per share (Yuan/share) | 0.36 | 62.21 | 0.96 | 35.21 |
| Diluted earnings per share (Yuan/share) | 0.34 | 55.06 | 0.93 | 30.99 |
| Weighted average return on equity (%) | 5.67 | Increase by 1.54 percentage points | 15.26 | Increase by 1.91 percentage points |
| At the end of reporting period | At the end of last year | Increase/decrease rate at the end of the reporting period compared to the end of last year (%) | ||
| Total assets | 123,354.80 | 95,834.22 | 28.72 | |
| Owner’s equity attributable to the shareholders of the listed company | 17,694.68 | 17,214.26 | 2.79 | |
Note: The “Current Reporting Period” means the period of three months from the beginning ofthe current quarter to the end of the current quarter; the same as below.Remark:
In the above statement, the net profit attributable to the shareholders of the listed company inthe current reporting period includes the after-tax interest attributable to the holders of theperpetual bonds in the reporting period in the amount of RMB 105 million; after deducting suchinterest, the amount of the net profit attributable to the shareholders of the listed company in thecurrent reporting period is RMB 2.07 billion. When calculating the basic earnings per share, thediluted earnings per share, the weighted average net return on equity, and other key financialindicators, the perpetual bonds and the interests accrued thereon are deducted.
(2) Non-recurring profit and loss items and amounts thereof
Unit: Yuan Currency: RMB
| Item | Amount in current reporting period | Amount from beginning of the year to the end of the reporting period | Remark |
| Gain or loss on disposal of non-current assets | 20,290,868.36 | 27,508,476.14 | |
| The government subsidies (except for those closely related to the Company’s normal business operations, in line with national policies, and continuously available at certain standard quota or ration) included in the current profit and loss | 252,871,489.99 | 349,426,340.21 |
Including the amount ofgovernment subsidies receivedin previous years andapportioned in the currentperiod. The amount ofgovernment subsidies receivedin the current period is RMB 336
million Yuan.
| The fund possession cost charged to the non-financial enterprise and included in the current profit and loss | 4,392,338.44 | 13,978,006.09 | |
| Except for the effective hedging business related to the Company’s normal business operations, the changes in fair value recognized in profit or loss derived from holding trading financial assets, derivative financial assets, trading financial liabilities, and derivative financial liabilities, as well as the income from investment obtained from disposal of trading financial assets, derivative financial assets, trading financial liabilities, derivative financial liabilities, and other investments on bonds | -425,501,838.47 | -794,307,689.54 | Mainly including the changes in fair value recognized in profit or loss and the gains and losses on disposal arising from the hedging against the fluctuation in commodity price and exchange rate by the Company with futures instrument and foreign exchange contract in order to support the spot operation of the main business, which are closely related to the operating profit and loss of the main business. |
| Reversal of the impairment provision for receivables and | 4,399,611.04 | 12,903,794.14 |
| contractual assets for which the impairment tests are carried out separately | |||
| Other non-operating incomes and expenses than those above mentioned | -20,388,108.62 | 89,385,507.94 | |
| Other profit and loss items in line with the definition of the non-recurring profit and loss | 1,346,875.37 | 3,934,440.72 | |
| Less: Amount of income tax consequence | 65,467,522.03 | 71,159,716.04 | |
| Amount of minority equity consequence (after tax) | -44,660,874.78 | -45,965,452.58 | |
| Total | -183,395,411.14 | -322,365,387.76 |
Note to the fact that the non-recurring profit and loss items as set forth in the “ExplanatoryAnnouncement No. 1 on Information Disclosure for Companies Offering Their Securities to thePublic – Non-Recurring Profit and Loss” as the non-recurring profit and loss items.
□ Applicable √ Not Applicable
(3) The circumstances and causes for occurrence of changes in the key accounting data andfinancial indicators
√Applicable□ Not Applicable
| Name of item | Proportion of change (%) | Main cause |
| Net profit attributable to shareholders of the listed company | 31.23 | The main cause is that in the current period, the Company has always been anchoring the core demands of the customers, optimizing the commodity and business structure, seizing the opportunity for market expansion, and improving its own supply chain service ability, so as to increase its profitability continuously. |
| Net profit attributable to shareholders of the listed company after deducting the non-recurring profit and loss | 41.77 | |
| Net cash flow from operating activities | Not applicable | The main cause is that in the current period, the cash received from goods sold from the supply chain business was accelerated, and the amount of withdrawal of the payment for goods was increased. |
| Basic earnings per share (Yuan/share) | 35.21 | The main cause is that the net profit attributable to the shareholders of the listed company was increased. |
| Diluted earnings per share (Yuan/share) | 30.99 |
II. Information on shareholders
(1) The total number of common shareholders, the number of preferred shareholders whosevoting rights are restored, and the shares held by top ten shareholder
Unit: Shares
| Total number of shareholders at the end of the reporting period | 38,809 | Total number of preferred shareholders whose voting rights are restored at the end of the reporting period (if any) | 0 | ||||
| Shares holding by top 10 shareholders | |||||||
| Name of Shareholder | Nature of Shareholder | Number of Shares Held | Proportion of Shareholding (%) | Number of Restricted Shares Held | Pledge, Marking, or Freezing | ||
| Status of Share | Quantity | ||||||
| Xiamen Xiangyu Group Corporation | State-owned legal person. | 1,122,603,723 | 49.80 | 0 | No | 0 | |
| National Social Security Fund Portfolio 503 | Others | 60,000,004 | 2.66 | 0 | No | 0 | |
| Xiamen CCRE Group Co., Ltd. | State-owned legal person | 50,226,994 | 2.23 | 0 | No | 0 | |
| China Agricultural Reclamation Industry Development Fund (L.P.) | Others | 43,149,000 | 1.91 | 0 | No | 0 | |
| National Social Security Fund Portfolio 114 | Others | 37,899,943 | 1.68 | 0 | No | 0 | |
| Hong Kong Securities Clearing Company Ltd. | Overseas legal person | 33,933,388 | 1.51 | 0 | No | 0 | |
| Xiangyu Real Estate Group Co., Ltd. | State-owned legal person | 30,388,100 | 1.35 | 0 | No | 0 | |
| China Universal Asset Management Co. Ltd. – Social Security Fund Portfolio 1103 | Others | 16,739,139 | 0.74 | 0 | No | 0 | |
| National Social Security Fund Portfolio 401 | Others | 16,148,301 | 0.72 | 0 | No | 0 | |
| Yinhua Fund Management Co., Ltd. – Social Security Fund Portfolio 1105 | Others | 16,124,763 | 0.72 | 0 | No | 0 | |
| Shares holding by top 10 unrestricted shareholders | |||||||
| Name of Shareholder | Number of unrestricted outstanding shares held | Class and number of shares | |||||
| Class of shares | Number | ||||||
| Xiamen Xiangyu Group Corporation | 1,122,603,723 | RMB ordinary shares | 1,122,603,723 |
| National Social Security Fund Portfolio 503 | 60,000,004 | RMB ordinary shares | 60,000,004 |
| Xiamen CCRE Group Co., Ltd. | 50,226,994 | RMB ordinary shares | 50,226,994 |
| China Agricultural Reclamation Industry Development Fund (L.P.) | 43,149,000 | RMB ordinary shares | 43,149,000 |
| National Social Security Fund Portfolio 114 | 37,899,943 | RMB ordinary shares | 37,899,943 |
| Hong Kong Securities Clearing Company Ltd. | 33,933,388 | RMB ordinary shares | 33,933,388 |
| Xiangyu Real Estate Group Co., Ltd. | 30,388,100 | RMB ordinary shares | 30,388,100 |
| China Universal Asset Management Co. Ltd. – Social Security Fund Portfolio 1103 | 16,739,139 | RMB ordinary shares | 16,739,139 |
| National Social Security Fund Portfolio 401 | 16,148,301 | RMB ordinary shares | 16,148,301 |
| Yinhua Fund Management Co., Ltd. – Social Security Fund Portfolio 1105 | 16,124,763 | RMB ordinary shares | 16,124,763 |
| Note to association or concerted action of aforesaid shareholders | Xiangyu Real Estate Group Co., Ltd. is a wholly-owned subsidiary of Xiamen Xiangyu Group Corporation. The Company is not aware that whether there is any association between the other aforesaid shareholders, or whether the other aforesaid shareholders are the person acting in concert as stipulated in the “Administration of the Takeover of Listed Companies Procedures”. | ||
| Notes to participation on top 10 shareholders and top 10 unrestricted shareholders in securities margin trading and securities financing business (if any) | Not applicable | ||
III. Other remindersOther important information on the Company’s operating conditions during the reporting periodthat investors shall be reminded of
√Applicable□ Not Applicable
Based on the deliberation and approval at the 41
st
meeting of the Eighth Session of the Boardof Directors of the Company, it is agreed that Xiamen Xiangyu Logistics Group Co., Ltd.(Hereinafter referred to as “Xiangyu Logistics”), as a wholly-owned subsidiary of the Company,shall continue to implement the market-oriented debt-for-equity swap. The Bank ofCommunications Financial Assets Investment Co., Ltd., the Bank of China Financial AssetsInvestment Co., Ltd., and China Orient Asset Management Co., Ltd. are introduced to increasethe capital in the total amount of RMB 2.5 billion in cash. After such capital increase, such threeshareholders will hold 6.07%, 6.07% and 3.04% of the shares in Xiangyu Logistics respectively.The funds available from the capital increase shall be used mainly to repay the financial liabilitiesfalling within the consolidated statements of Xiangyu Logistics, which are mainly comprised ofthe bank loans. It is agreed that Heilongjiang Xiangyu Agricultural Products Co., Ltd. (Hereinafterreferred to as “Xiangyu Agricultural Products”), as a holding subsidiary of the Company, shallcontinue to implement the market-oriented debt-to-equity swap. The Agricultural Bank of ChinaFinancial Assets Investment Co., Ltd. is introduced to increase the capital in the amount of RMB1 billion in cash. After such capital increase, Agricultural Bank of China Financial AssetsInvestment Co., Ltd. will hold 10.57% of the shares in Xiangyu Agricultural Products. The fundsavailable from the capital increase shall be used mainly to repay the financial liabilities fallingwithin the consolidated statements of Xiangyu Agricultural Products, which are mainly comprisedof the bank loans. As at the date of this Announcement, the new shareholders have made thecontributions in full, and they are going through the industrial and commercial procedures.On July 6, 2022, the Company received the “Notice of Primary Feedback on Review ofAdministrative License Program by CSRC” (No. 221427) issued by China Securities RegulatoryCommission, and made a public reply on August 3, 2022. For the feedback and reply in detail,please refer to the “Reply on Feedback to Application Document Submitted by Xiamen XiangyuCo., Ltd. for Private Offering of A-Shares in 2022” disclosed by the Company on the website ofShanghai Stock Exchange. On October 19, 2022, based on the deliberation and approval at the
rd
meeting of the Eighth Session of the Board of Directors and at the 23
rdmeeting of the EighthSession of Board of Supervisors of the Company, according to the regulatory regulations andthe prudent judgment made by the Company, the Company deducted the funds related tofinancial investment in the total amount of RMB 280.24 million from the total amount of funds soraised. Accordingly, the amount of funds so raised and the number of shares issued in thisprivate offering in 2022 were adjusted as follows: The total amount of fund so raised was reducedfrom “RMB 3.50 billion” to “RMB 3,219.76 million”, and the amount subscribed by XiamenXiangyu Group Corporation (Hereinafter referred to as “Xiangyu Group”) was reduced from“RMB 1.50 billion” to “RMB 1,219.76 million”; whereas the implementation of the profit distributionplan for 2021 was completed, based on the adjusted issue price of RMB 6.52 per share, the
number of issued shares was reduced from “536,809,815 shares” to “493,828,189 shares”. Thenumber of shares issued to Xiangyu Group was reduced from “230,061,349” shares to“187,079,723” shares. The other contents of the original issuance plan remained unchanged.For details, please refer to the relevant announcements disclosed by the Company on October20 (Announcement No.2022-087, 2022-088, 2022-089, 2022-090, and 2022-091).
IV. Quarterly financial statements
(1) Type of auditor’s opinions
□ Applicable √ Not Applicable
(2) Financial statements
Consolidated Balance SheetAs at September 30, 2022Prepared by: Xiamen Xiangyu Co., Ltd.
Unit: Yuan Currency: RMB Type of Audit: Unaudited
| Item | September 30, 2022 | December 31, 2021 |
| Current assets: | ||
| Cash and cash equivalents | 21,485,560,237.24 | 13,614,086,538.04 |
| Deposit reservation for balance | ||
| Lending to Banks and Other Financial Institutions | ||
| Held-for-trading financial assets | 2,509,684,195.31 | 4,750,094,750.04 |
| Derivative financial assets | 565,799,665.23 | 274,597,786.50 |
| Notes receivable | 272,179,504.46 | 105,918,368.37 |
| Accounts receivable | 20,478,399,534.40 | 14,395,603,332.95 |
| Financing of receivables | 479,947,189.83 | 189,516,446.47 |
| Prepayments | 22,922,029,380.21 | 16,995,820,170.44 |
| Premiums receivable | ||
| Reinsurance accounts receivable | ||
| Provision of cession receivable | ||
| Other receivables | 2,693,527,017.97 | 1,682,887,167.42 |
| Including: Interests receivable | ||
| Dividends receivable | ||
| Redemptory monetary capital for sale | ||
| Inventories | 29,857,067,583.36 | 22,195,313,267.99 |
| Contract assets | 662,218,543.10 | 631,218,355.82 |
| Held-for-sale assets | ||
| Non-current assets due within one year | 301,390,068.51 | |
| Other current assets | 3,215,860,119.50 | 3,160,374,498.97 |
| Total current assets | 105,443,663,039.12 | 77,995,430,683.01 |
| Non-current assets: | ||
| Loan and advance in cash | ||
| Investment in creditor’s right | ||
| Other investments in creditor’s right | ||
| Long-term receivables | 1,000,000.00 | 1,000,000.00 |
| Long-term equity investment | 1,538,986,319.88 | 1,603,180,579.36 |
| Investment in other equity instruments | ||
| Other non-current financial assets | 108,111,417.98 | 96,088,266.30 |
| Investment properties | 786,161,259.44 | 816,189,270.75 |
| Fixed assets | 9,780,574,309.80 | 10,087,004,698.74 |
| Construction in progress | 846,776,361.36 | 880,849,893.75 |
| Productive biological assets | ||
| Oil and gas assets | ||
| Right-of-use assets | 599,683,190.83 | 636,452,405.38 |
| Intangible assets | 2,027,300,133.02 | 2,044,938,560.17 |
| Development expenditure | 22,813,783.62 | 15,446,553.86 |
| Goodwill | 12,669,186.90 | 12,669,186.90 |
| Long-term unamortized expenses | 56,907,193.94 | 61,551,517.93 |
| Deferred income tax assets | 1,145,455,546.00 | 1,016,951,185.99 |
| Other non-current assets | 984,698,516.30 | 566,467,783.47 |
| Total non-current assets | 17,911,137,219.07 | 17,838,789,902.60 |
| Total assets | 123,354,800,258.19 | 95,834,220,585.61 |
| Current liabilities: | ||
| Short-term borrowing | 23,971,656,334.91 | 8,245,736,698.98 |
| Borrowings from central bank | ||
| Loans from other banks and other financial institutions | ||
| Trading financial liabilities | ||
| Derivative financial liabilities | 1,160,664,258.48 | 135,979,682.51 |
| Notes payable | 18,630,915,998.33 | 15,159,439,515.62 |
| Accounts payable | 12,413,570,744.80 | 14,085,505,718.04 |
| Account collected in advance | 29,002,619.30 | 26,718,777.21 |
| Contract liabilities | 12,558,412,328.63 | 8,695,441,220.14 |
| Financial assets sold for repurchase | ||
| Deposits from customers and interbank | ||
| Acting trading securities | ||
| Acting underwriting securities | ||
| Payroll payable | 1,444,710,761.53 | 1,278,652,332.02 |
| Taxes payable | 840,690,331.65 | 1,229,239,776.11 |
| Other payables | 3,204,219,188.53 | 1,321,676,272.49 |
| Including: Interests payable | ||
| Dividends payable | 145,279,845.77 | 82,349,935.56 |
| Handling charges and commissions payable | ||
| Accounts payable for reinsurance | ||
| Held-for-sale liabilities | ||
| Non-current liabilities due within one year | 1,598,409,351.16 | 3,127,085,440.68 |
| Other current liabilities | 4,443,603,684.98 | 3,097,489,127.32 |
| Total current liabilities | 80,295,855,602.30 | 56,402,964,561.12 |
| Non-current liabilities: | ||
| Provision for insurance contracts | ||
| Long-term borrowings | 3,411,881,346.72 | 2,857,297,083.98 |
| Bonds payable | 2,997,564,107.01 | 2,994,838,876.06 |
| Including: Preferred shares | ||
| Perpetual bonds | ||
| Lease liabilities | 200,981,063.98 | 275,211,064.13 |
| Long-term payables | ||
| Long-term payroll payable | 575,874,086.22 | 590,414,647.65 |
| Estimated liabilities | 17,040,721.98 | 85,341,806.33 |
| Deferred income | 289,920,837.71 | 302,820,139.38 |
| Deferred income tax liabilities | 233,407,114.30 | 159,485,698.38 |
| Other non-current liabilities | 836,266,129.04 | |
| Total non-current liabilities | 7,726,669,277.92 | 8,101,675,444.95 |
| Total liabilities | 88,022,524,880.22 | 64,504,640,006.07 |
| Owner’s equity (or shareholders’ equity): | ||
| Paid-up capital (or capital stock) | 2,254,093,987.00 | 2,157,454,085.00 |
| Other equity instruments | 3,300,000,000.00 | 4,300,000,000.00 |
| Including: Preferred shares | ||
| Perpetual bonds | 3,300,000,000.00 | 4,300,000,000.00 |
| Capital reserve | 6,022,146,745.17 | 5,555,015,054.06 |
| Less: Treasury stock | 465,765,108.41 | 91,735,300.75 |
| Other comprehensive income | 199,863,669.72 | -122,194,349.04 |
| Appropriative reserve | 303,204.72 | |
| Surplus reserve | 473,946,056.77 | 473,946,056.77 |
| General risk reserve | 2,690,089.11 | |
| Undistributed profits | 5,910,394,913.01 | 4,938,778,648.61 |
| Total owner’s equity (or shareholders’ equity) attributable to parent company | 17,694,680,263.26 | 17,214,257,488.48 |
| Minority equity | 17,637,595,114.71 | 14,115,323,091.06 |
| Total owner’s equity (or shareholders’ equity) | 35,332,275,377.97 | 31,329,580,579.54 |
| Total liabilities and owner’s equity (or shareholders’ equity) | 123,354,800,258.19 | 95,834,220,585.61 |
Person in charge of Company: Deng Qidong Person in charge of financial affairs: QiWeidong Leading member of accounting body: Lin Jing
Consolidated Income StatementJanuary – September 2022Prepared by: Xiamen Xiangyu Co., Ltd.
Unit: Yuan Currency: RMB Type of Audit: Unaudited
| Item | First Three Quarters (January – September) of 2022 | First Three Quarters (January – September) 2021 |
| I. Total operating income | 391,758,578,523.22 | 344,419,335,522.07 |
| Including: Operating income | 391,758,578,523.22 | 344,419,335,522.07 |
| Interest income | ||
| Insurance premium earned | ||
| Handling charges and commissions income | ||
| II. Total operating cost | 386,646,327,930.95 | 340,551,965,370.57 |
| Including: Operating cost | 382,825,413,037.51 | 336,624,930,351.59 |
| Interest expense | ||
| Handling charge and commissions expense | ||
| Surrender value | ||
| Net payment of insurance claims | ||
| Net provision in insurance reserve | ||
| Policy dividend | ||
| Amortized reinsurance expenditures | ||
| Taxes and surcharges | 466,293,280.56 | 269,749,481.08 |
| Selling expenses | 1,721,322,259.07 | 1,544,390,807.07 |
| Administrative expenses | 917,861,645.09 | 893,422,308.70 |
| Research & development expense | 25,904,658.97 | 48,215,153.41 |
| Financial expense | 689,533,049.75 | 1,171,257,268.72 |
| Including: Interest expense | 1,240,836,592.83 | 962,670,968.55 |
| Interest income | 161,056,886.66 | 77,504,583.48 |
| Add: Other income | 373,499,258.19 | 149,581,833.31 |
| Income from investment (Loss to be filled in with “-”) | -172,659,152.92 | -417,738,508.10 |
| Including: Income from investment in associated enterprise and joint venture | 120,219,107.93 | 74,475,013.67 |
| Income from derecognition of financial assets measured at amortized cost | -97,599,805.16 | -81,070,533.50 |
| Profit or loss on exchange (Loss to be filled in with “-”) | ||
| Net profit on exposure hedging (Loss to be filled in with “-”) | ||
| Income from change in fair value (Loss to be filled in with “-”) | -721,563,230.34 | -180,231,185.93 |
| Loss on credit impairment (Loss to be filled in with “-”) | -70,633,462.81 | -14,996,518.76 |
| Asset impairment loss (Loss to be filled in with “-”) | -559,406,568.91 | -455,902,855.54 |
| Income from disposal of assets (Loss to be filled in with “-”) | 23,719,537.16 | 8,770,280.87 |
| III. Operating profit (Loss to be filled in with “-”) | 3,985,206,972.64 | 2,956,853,197.35 |
| Add: Non-operating income | 307,067,609.19 | 74,714,061.98 |
| Less: Non-operating expense | 217,387,091.06 | 51,240,527.37 |
| IV. Total profits (Total losses to be filled in with “-”) | 4,074,887,490.77 | 2,980,326,731.96 |
| Less: Income tax expense | 1,017,076,343.32 | 841,617,066.81 |
| V. Net profit (Net loss to be filled in with “-”) | 3,057,811,147.45 | 2,138,709,665.15 |
| (I) Classified by sustainable operation | ||
| 1. Net profit from sustainable operation (Net loss to be filled in with “-”) | 3,057,811,147.45 | 2,138,709,665.15 |
| 2. Net profit from discontinued operation (Net loss to be filled in with “-”) | ||
| (II) Classified by attribution of ownership | ||
| 1. Net profit attributable to the shareholders of the parent company (Net loss to be filled in with “-”) | 2,173,450,380.22 | 1,656,175,819.17 |
| 2. Minority interest income (Net loss to be filled in with “-”) | 884,360,767.23 | 482,533,845.98 |
| VI. Net-of-tax other comprehensive income | 332,030,149.87 | 22,521,081.96 |
| (I) Net-of-tax other comprehensive income attributable to the parent company | 322,058,018.76 | 22,889,048.62 |
| 1. Other comprehensive income that cannot be reclassified as profit and loss | ||
| (1) Amount of changes in re-measurement of defined benefit plans | ||
| (2) Other comprehensive income that cannot be transferred to profit and loss under the equity method | ||
| (3) Change in fair value of other investments in equity instruments | ||
| (4) Changes in fair value of enterprise’s own credit risk | ||
| 2. Other comprehensive income to be reclassified as profit and income | 322,058,018.76 | 22,889,048.62 |
| (1) Other comprehensive income that can be transferred to profit and loss under the equity method | -275,917.58 | |
| (2) Changes in fair value of other investments on bonds | ||
| (3) Amount of financial assets reclassified and included in other comprehensive income | ||
| (4) Provision for credit impairment of other investments in bonds | ||
| (5) Reserve for cash flow hedge | -13,704,450.00 | |
| (6) Translation difference of foreign currency financial statements | 336,038,386.34 | 22,889,048.62 |
| (7) Others | ||
| (II) Net-of-tax other comprehensive income attributable to the minority | 9,972,131.11 | -367,966.66 |
| VII. Total comprehensive income | 3,389,841,297.32 | 2,161,230,747.11 |
| (I) Total comprehensive income attributable to the owners of the parent company | 2,495,508,398.98 | 1,679,064,867.79 |
| (II) Total comprehensive income attributable to the minority | 894,332,898.34 | 482,165,879.32 |
| VIII. Earnings per share: | ||
| (I) Basic earnings per share (Yuan/share) | 0.96 | 0.71 |
| (II) Diluted earnings per share (Yuan/share) | 0.93 | 0.71 |
In case of the merger of enterprises under the same control occurring in the current period, thenet profit realized by the merged party before the merger shall be RMB 0.00 Yuan, and the netprofit realized by the merged party in the previous period shall be RMB 0.00 Yuan.Person in charge of Company: Deng Qidong Person in charge of financial affairs: QiWeidong Leading member of accounting body: Lin Jing
Consolidated Cash Flow StatementJanuary – September, 2022Prepared by: Xiamen Xiangyu Co., Ltd.
Unit: Yuan Currency: RMB Type of Audit: Unaudited
| Item | First Three Quarters of 2022 January – September) | First Three Quarters of 2021 (January – September) |
| I. Cash flow from operating activities: | ||
| Cash receiving from sales of goods and rendering of services | 442,619,625,454.19 | 376,230,972,496.42 |
| Net increase in customer deposit and deposit from other banks | ||
| Net increase in borrowing from central bank | ||
| Net increase in funds borrowed from other financial institutions | ||
| Cash obtained by receipt of premiums from original insurance contracts | ||
| Net cash received from reinsurance business | ||
| Net increase in deposit of insured and investment | ||
| Cash received from interests, handling charges, and commissions | ||
| Net increase in loans from other banks and other financial institutions | ||
| Net increase in funds for repurchase business | ||
| Net cash received from acting trading securities | ||
| Refund of tax received | 1,073,603,152.73 | 496,902,790.71 |
| Other cash received in relation to operating activities | 1,751,592,485.09 | 9,103,247,160.30 |
| Subtotal of cash inflow from operating activities | 445,444,821,092.01 | 385,831,122,447.43 |
| Cash paid for sales of goods and rendering of services | 440,601,153,058.48 | 385,087,744,833.93 |
| Net increase in customer loans and advances | ||
| Net increase in deposit in the Central Bank and other banks | ||
| Cash paid for claims under the original insurance contract | ||
| Net increase in lending to banks and other financial institutions | ||
| Cash paid for interest, handling charges, and commissions | ||
| Cash paid for policy dividend | ||
| Cash paid to and for the employees | 1,472,727,889.55 | 1,213,545,650.01 |
| Taxes paid | 2,566,655,467.95 | 1,903,436,463.21 |
| Other cash paid in relation to operating activities | 4,516,160,120.71 | 8,415,785,587.13 |
| Subtotal of cash outflow from operating activities | 449,156,696,536.69 | 396,620,512,534.28 |
| Net cash flow from operating activities | -3,711,875,444.68 | -10,789,390,086.85 |
| II. Cash flow from investment activities | ||
| Cash receiving from investment withdrawal | 7,174,804,557.11 | 6,519,790,938.25 |
| Cash receiving from return on investment | 175,587,638.87 | 214,758,959.44 |
| Net amount of cash receiving from disposal of fixed assets, intangible assets, and other long-term assets | 254,724,676.60 | 125,272,255.33 |
| Net amount of cash receiving from disposal of subsidiary and other business unit | 356,643,099.28 | 36,704,732.37 |
| Other cash receiving related to investment activities | 100,000.00 | |
| Subtotal of cash inflow from investment activities | 7,961,759,971.86 | 6,896,626,885.39 |
| Cash paid to acquire fixed assets, intangible assets, and other long-term assets | 191,475,209.40 | 474,979,298.53 |
| Cash paid to acquire investment | 8,662,700,619.49 | 4,574,012,238.22 |
| Net increase in pledge loan | ||
| Net amount of cash paid to acquire subsidiary and other business unit | 87,639,962.47 | |
| Other cash paid related to investment activities | 6,643,399.73 | |
| Subtotal of cash outflow from investment activities | 8,854,175,828.89 | 5,143,274,898.95 |
| Net cash flow from investment activities | -892,415,857.03 | 1,753,351,986.44 |
| III. Cash flow from financing activities: | ||
| Cash received from investment by others | 8,173,666,157.40 | 1,798,396,200.00 |
| Including: Cash received from subsidiary investments from minority shareholders | 7,798,746,826.80 | 1,798,396,200.00 |
| Cash receiving from borrowings | 93,815,076,767.06 | 90,466,448,845.66 |
| Other cash receiving related to financing activities | 6,040,522.65 | 431,865,442.14 |
| Subtotal of cash inflow from financing activities | 101,994,783,447.11 | 92,696,710,487.80 |
| Cash paid for repayment of debt | 81,520,141,115.38 | 79,767,121,321.97 |
| Cash paid for distribution of dividend, profit or payment of interest | 3,051,722,905.92 | 2,223,065,476.99 |
| Including: Dividend and profit paid by subsidiary to minority shareholders | 724,293,316.77 | 567,343,834.43 |
| Other cash paid relating to financing activities | 3,863,141,097.91 | 2,379,331,063.56 |
| Subtotal of cash outflow from financing activities | 88,435,005,119.21 | 84,369,517,862.52 |
| Net cash flow from financing activities | 13,559,778,327.90 | 8,327,192,625.28 |
| IV. Effect of exchange rate changes on cash and cash equivalents | 409,581,640.90 | 3,819,636.81 |
| V. Net increase in cash and cash equivalents | 9,365,068,667.09 | -705,025,838.32 |
| Add: Beginning balance of cash and cash equivalents | 10,635,311,053.24 | 10,950,257,498.82 |
| VI. Ending balance of cash and cash equivalents | 20,000,379,720.33 | 10,245,231,660.50 |
Person in charge of Company: Deng Qidong Person in charge of financial affairs:
Qi Weidong Leading member of accounting body: Lin Jing
The implementation of new accounting standards or the new interpretations to the accountingstandards since 2022 involves the adjustment of the financial statements at the beginning of theyear when they are implemented for the first time.
□ Applicable √ Not Applicable
It is hereby announced.
The Board of Directors of Xiamen Xiangyu Co., Ltd.
October 26, 2022