Stock Code: 688007 Stock Short Name: Appotronics
Appotronics Corporation LimitedThe First Quarter Report in 2023
The Board of Directors of the Company and all directors warrant that this Announcement is freefrom any misrepresentation, misleading statement, or material omission, and shall be jointly andseverally liable for the truthfulness, accuracy, and completeness of the content hereof.
Important Notes(I)The Board of Directors, the Board of Supervisors, directors, supervisors, and senior officers of theCompany hereby warrant that the information contained in this Quarterly Report is true, accurate andcomplete 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.(II)The Principal, Person in Charge of the Accounting Body, and Chief Accountant of the Companyhereby represent that the information of the financial statements contained in this Quarterly Report aretrue, accurate and complete.(III)Whether the financial statements of the 1st quarter have been audited
□ Yes √ No
本报告为深圳光峰科技股份有限公司自愿披露的《2023年第一季度报告（英文版）》，对本报告的中英文版本理解上发生歧义时，以中文版本为准。
This is the First Quarterly Report in 2023 (English version) voluntarily disclosed by AppotronicsCorporation Limited. In the event of any discrepancy between the English and Chinese versions of thisreport, the Chinese version shall prevail.
I. Major financial data(IV) Main accounting data and financial indicators
In RMB
| Item | During the reporting period | Change on a year-on-year basis (%) | |
| Operating income | 459,012,885.14 | -12.59 | |
| Net profit attributable to shareholders of the listed company | 13,654,664.95 | -23.54 | |
| Net profit attributable to shareholders of the listed company after deduction of non-recurring profit or loss | -11,377,457.90 | -2,165.97 | |
| Net cash flow from operating activities | -36,331,090.68 | N/A | |
| Basic earnings per share (RMB/share) | 0.03 | -25.00 | |
| Diluted earnings per share (RMB/share) | 0.03 | -25.00 | |
| Weighted average return on net assets (%) | 0.51 | -0.22 Percentage points | |
| Total R&D investments | 63,434,898.20 | 15.49 | |
| Proportion of R&D investments to operating income (%) | 13.82 | +3.36 Percentage points | |
| 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 | 4,357,740,302.44 | 4,333,350,260.15 | 0.56 |
| Owners’ equity attributable to shareholders of the listed company | 2,674,401,681.67 | 2,647,663,487.59 | 1.01 |
(V) Items and amounts of non-recurring profit or loss
In RMB
| Item | Amount for the current period | Description |
Gain or loss on disposal of non-current assets
| Gain or loss on disposal of non-current assets | -108,462.62 | |
| Government grants recognized in profit or loss for the current period (excluding government grants that are closely related to the business of the Company and are provided in fixed amount or quantity continuously according to the applicable polices and standards of the country) | 17,997,782.24 | |
| Profit or loss on entrusted investments or assets management | 2,338,845.55 | |
| 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 enterprises under common control | 7,383,154.62 | |
| 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 | 13,000.00 | |
| Receivables that are separately tested for impairment and impairment of contract assets preparing to be reversed | 69,851.05 | |
| Other non-operating income and expenses | 298,864.40 | |
| Other profits or losses meeting the definition of non-recurring profit or loss | 426,752.17 | |
| Less: Effect of income taxes | 3,096,907.64 | |
| Effects attributable to minority interests (net of tax) | 290,756.91 | |
| Total | 25,032,122.85 |
Description of defining non-recurring profit or loss items illustrated in Information Disclosure andPresentation Rules for Companies Making Public Offering of Securities No. 1－Non-recurring Profitor Loss as recurring profit or loss items
□ Applicable √ N/A
(VI) Description of and reasons for changes in the main accounting data and financial
indicators
√ Applicable □ N/A
| Item | % Change | Main reason |
| Net profit attributable to shareholders of the listed company after deduction of non-recurring profit or loss | -2,165.97 | This was mainly due to a combination of reasons such as lower revenue, increased investment in marketing and R&D. |
1. Analysis of operating conditions
In the face of complex and changeable internal and external environment, the Company alwaysadheres to the strategic focus of " core technologies+ core devices + application scenarios ", and activelyadapts to changes in uncertainty. With profound technology accumulation in the field of optics, theCompany grasps the market opportunities brought by the steady advancement of the "core devices"strategy, continues to increase R&D investment in growth businesses such as automotive optics, strivesto build a new growth pole of the Company's performance, and pursues the Company's high-qualitygrowth. In the first quarter of 2023, the Company's main operating conditions are as follows:
Since entering the automotive optical track, the Company has continued to make breakthroughs inthe automotive optical business, quickly obtained the IATF 16949:2016 quality management systemcertification, obtained the access pass to enter the domestic and foreign automotive industry supplychain, and obtained the Development Nomination Letter issued by BYD, an internationally renownedbrand car company, Seres and other well-known car companies, to achieve rapid growth of automotiveoptical business.
At the International Consumer Electronics Show (CES 2023) held in January 2023, automotivebrand BMW unveiled the world's first concept car equipped with four-window fusion displaytechnology—Dee, for which the Company provided four-window fusion display technology module. Atthe recently held 20th Shanghai International Automotive Industry Exhibition, the Company released theworld's first automotive-grade RGB laser headlights, showing immersive in-car digital interactionsolutions such as exterior window display, in-car transparent display, in-car entertainment screen, andsmart surface display, demonstrating the Company's new ideas for various scenarios of futureautomotive optics, bringing a smarter and more interesting driving experience to drivers and passengers.In addition, the Company attaches great importance to the patent layout of automotive opticaltechnology, and in the first quarter of 2023, the Company added 42 new authorizations and applications
for patents related to automotive optical technology; as of March 31, 2023, the cumulative number ofpatents authorized and applied for automotive optical technology reached 170.With the rapid development of electric vehicle intelligence, the Company will continue to expandthe automotive optical business around the three application directions of automotive display, laserheadlights, and HUD, and work with industry chain ecological partners to jointly create a new intelligentcar experience for consumers.
In terms of cinema projection service business, in 2023, the supply of film sources and the pace ofrelease are recovering, and the cinema market is gradually recovering. In the first quarter of 2023, theCompany's cinema projection service business achieved an operating income of RMB 90.9638 million, ayear-on-year increase of 11.03%.
In terms of professional display business, the Company continued to strengthen strategiccooperation with core customers and industry chain partners, and held a core partner summit with thetheme of "Working Together to Shine the World" in March 2023. During the reporting period, theCompany's professional display business recovered well as a whole, with an increase of 22.11% inoperating income over the same period last year, of which the overseas special display businessexpanded rapidly, and the operating income increased by 74.71% over the same period last year.
In terms of C-end own brands, Formovie further focused on its own brand construction, and its ownbrand business revenue was basically the same as the same period last year, and its revenue accountedfor more than 70% of Formovie's total revenue, and its comprehensive gross profit margin increasedsignificantly.
2. Analysis of profit influencing factors
(1) Operating income
During the reporting period, the Xiaomi ODM business revenue of its subsidiary decreased by
53.12% compared with the same period last year, which was the main force to burden the pressure onthe Company's revenue performance.
(2) Fees
During the reporting period, the Company increased R&D investment in growth businesses such asautomotive optics, and R&D expenses increased by RMB 8.5099 million, a year-on-year increase of
15.49% over 2022; the Company's various business lines increased marketing efforts, and sales expensesincreased by RMB 5.0294 million, a year-on-year increase of 9.16% compared with 2022.
II. Shareholder information(I) Total number of ordinary shareholders, number of preferred shareholders whose voting right hasbeen restituted, and shares held by top 10 shareholders
Unit: Share
| Total number of ordinary shareholders as of the end of the reporting period | 13,902 | Total number of preferred shareholders whose voting right has been restituted as of the end of the reporting period (if any) | N/A | ||||||
| Shares held by top 10 shareholders | |||||||||
| Shareholder | Nature of shareholder | Number of shares held | Proport ion of shareholding (%) | Number of non-tradable shares held | Number of non-tradable shares held, including the shares lent out under the refinancing arrangement | Shares pledged, marked, or frozen | |||
| Status of shares | Quantity | ||||||||
| Shenzhen Appotronics Holdings Limited | Domestic non-stated owned corporation | 79,762,679 | 17.45 | 0 | 0 | None | - | ||
| Shenzhen Yuanshi Laser Industrial Investment Consulting Partnership (LP) | Domestic non-stated owned corporation | 24,139,500 | 5.28 | 0 | 0 | None | - | ||
| Nantong Strait Appotronics Investment Partnership (LP) | Domestic non-stated owned corporation | 22,780,329 | 4.98 | 0 | 0 | None | - | ||
| Shenzhen Appotronics Daye Investment Partnership (LP) | Domestic non-stated owned corporation | 20,430,250 | 4.47 | 0 | 0 | None | - | ||
ShenzhenAppotronics HongyeInvestmentPartnership (LP)
| Shenzhen Appotronics Hongye Investment Partnership (LP) | Domestic non-stated owned corporation | 15,662,374 | 3.43 | 0 | 0 | None | - | ||
| Shenzhen Jinleijing Investment Limited Partnership(LP) | Domestic non-stated owned corporation | 12,353,106 | 2.70 | 0 | 0 | None | - | ||
| Shenzhen Appotronics Chengye Consulting Partnership(LP) | Domestic non-stated Owned corporation | 10,394,846 | 2.27 | 0 | 0 | None | - | ||
| Bank of China-E Fund Stable Income Bond Securities Investment Fund | other | 8,629,271 | 1.89 | 0 | 0 | None | - | ||
| Shenzhen Guochuang Chenggu Capital Management Co., Ltd. -Shenzhen Chengguhui Equity Investment Partnership (LP) | Domestic non-stated owned corporation | 8,114,369 | 1.78 | 0 | 0 | None | - | ||
| Industrial Bank Company Limited-Tianhong Yongli Bond Securities Investment Fund | other | 7,788,075 | 1.70 | 0 | 0 | None | - | ||
| Shares held by top 10 holders of tradable shares | |||||||||
| Shareholder | Number of tradable shares held | Type and number of shares | |||||||
| Type of shares | Quantity | ||||||||
| Shenzhen Appotronics Holdings Limited | 79,762,679 | RMB-denominated ordinary share | 79,762,679 | ||||||
| Shenzhen Yuanshi Laser Industrial Investment Consulting Partnership (LP) | 24,139,500 | RMB-denominated ordinary share | 24,139,500 | ||||||
Nantong Strait Appotronics InvestmentPartnership (LP)
| Nantong Strait Appotronics Investment Partnership (LP) | 22,780,329 | RMB-denominated ordinary share | 22,780,329 |
| Shenzhen Appotronics Daye Investment Partnership (LP) | 20,430,250 | RMB-denominated ordinary share | 20,430,250 |
| Shenzhen Appotronics Hongye Investment Partnership (LP) | 15,662,374 | RMB-denominated ordinary share | 15,662,374 |
| Shenzhen Jinleijing Investment Limited Partnership(LP) | 12,353,106 | RMB-denominated ordinary share | 12,353,106 |
| Shenzhen Appotronics Chengye Consulting Partnership(LP) | 10,394,846 | RMB-denominated ordinary share | 10,394,846 |
| Bank of China-E Fund Stable Income Bond Securities Investment Fund | 8,629,271 | RMB-denominated ordinary share | 8,629,271 |
| Shenzhen Guochuang Chenggu Capital Management Co., Ltd. -Shenzhen Chengguhui Equity Investment Partnership (LP) | 8,114,369 | RMB-denominated ordinary share | 8,114,369 |
| Industrial Bank Company Limited-Tianhong Yongli Bond Securities Investment Fund | 7,788,075 | RMB-denominated ordinary share | 7,788,075 |
| Affiliates or concert parties among the shareholders stated above | 1. As of March 31, 2023, 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), Shenzhen Jinleijing Investment Limited Partnership (LP), and Shenzhen Appotronics Chengye Consulting Partnership (LP) in top 10 shareholders of the Company. 2. We are not aware whether there are affiliates or concert parties as defined in the Administrative Measures for the Acquisition of the Listed Companies among other shareholders. | ||
| Description of margin trading, short selling, and refinancing involving top 10 shareholders and top 10 holders of non-restricted shares (if any) | N/A | ||
III. Other events
Other important information about the business operation of the Company during the reporting periodrequesting the attention of investors
√ Applicable □ N/A
(I) Litigation and arbitration
During the reporting period, the details of the Company's litigation and arbitration matters are asfollows:
1. The Company received the closing ruling of the Guangzhou Intellectual Property Court on casenumbers (2020) Yue 73 Zhi Min Chu No.1335-1341, 1353 and 1355-1361.
2. (2023) Hu 73 Zhi Min Chu No.15 case (original case number: (2021) Hu 73 Zhi Min ChuNo.1070), Delta Electronics, Inc. is the right holder of the invention patent No.ZL201110041436.1, andit claims that the Company and Shanghai Haichi Digital Technology Co., Ltd. have infringed itsinvention patent right, and the case is being tried at first instance.(II) Request for invalidation declaration
1. As of the end of the reporting period, the Company filed an invalidation request against thepatents held by Delta Electronics, Inc., and 3 cases were under trial by the State Intellectual PropertyOffice.
2. As of the end of the reporting period, the Company's patent with the Company itself as thepatentee has been filed with an invalidation request, and 3 cases are under trial by the State IntellectualProperty Office, the patents involved are the “light source structure based on phosphor to improve thelight conversion efficiency” (patent number: 200810065225.X), “phosphor layer, device andcorresponding light source and projection system, and corresponding production method” (patentnumber: ZL201510420950.4), “optical system and projection device” (patent number:
ZL202220267901.7).
IV. Quarterly financial statements(I) Type of audit opinions
□ Applicable √ N/A
(II) Financial statements
10 /
Consolidated Balance Sheet
March 31, 2023
Prepared by: Appotronics Corporation Limited
In RMB Audit type: Unaudited
| Item | March 31, 2023 | December 31, 2022 |
| Current Assets: | ||
| Cash and bank balances | 1,469,396,456.06 | 1,355,882,208.63 |
| Balances with clearing agencies | ||
| Placements with banks and other financial institutions | ||
| Held-for-trading financial assets | 357,880,000.00 | 352,880,000.00 |
| Derivative financial assets | ||
| Notes receivable | 2,699,977.52 | 2,234,687.77 |
| Accounts receivable | 144,756,256.94 | 208,260,235.79 |
| Receivables financing | 4,448,898.00 | 4,279,041.00 |
| Prepayments | 40,571,724.91 | 48,445,976.86 |
| Premiums receivable | ||
| Amounts receivable under reinsurance contracts | ||
| Reinsurer’s share of insurance contract reserves | ||
| Other receivables | 27,100,787.08 | 26,331,721.55 |
| Including: Interest receivable | ||
| Dividend receivable | 13,605,966.00 | 13,789,908.00 |
| Financial assets purchased under resale agreements | ||
| Inventories | 851,103,674.04 | 865,639,961.79 |
| Contract assets | 866,469.79 | 1,061,581.35 |
| Assets held for sale | ||
| Non-current assets due within one year | 19,900,783.09 | 13,431,554.82 |
| Other current assets | 103,314,002.06 | 106,502,611.79 |
| Total current assets | 3,022,039,029.49 | 2,984,949,581.35 |
| Non-current Assets: | ||
11 /
Loans and advances
| Loans and advances | ||
| Debt investments | ||
| Other debt investments | ||
| Long-term accounts receivable | 13,939,785.50 | 11,524,193.80 |
| Long-term equity investment | 160,185,985.74 | 162,394,917.57 |
| Investment in other equity instruments | 7,075,419.38 | 7,075,419.38 |
| Other non-current financial assets | ||
| Investment property | ||
| Fixed assets | 402,916,872.24 | 427,539,718.53 |
| Construction in progress | 291,969,144.16 | 278,978,057.73 |
| Productive biological assets | ||
| Oil and gas assets | ||
| Use right assets | 63,613,309.14 | 62,255,670.29 |
| Intangible assets | 289,270,280.89 | 290,341,693.08 |
| Development expenditure | ||
| Goodwill | ||
| Long-term prepaid expenses | 7,283,451.21 | 5,990,984.03 |
| Deferred tax assets | 85,124,160.74 | 89,730,936.02 |
| Other non-current assets | 14,322,863.95 | 12,569,088.37 |
| Total non-current assets | 1,335,701,272.95 | 1,348,400,678.80 |
| Total assets | 4,357,740,302.44 | 4,333,350,260.15 |
| Current Liabilities: | ||
| Short-term borrowings | 159,659,634.03 | 129,589,634.03 |
| Loans from the central bank | ||
| Taking from banks and other financial institutions | ||
| Held-for-trading financial liabilities | ||
| Derivative financial liabilities | 54,000.00 | |
| Notes payable | 116,054,205.55 | 201,299,388.57 |
| Accounts payable | 206,616,328.35 | 276,845,321.28 |
| Advance from customers | 101,754,238.14 | 113,834,728.10 |
| Contract liabilities | 54,030,723.44 | 37,285,920.43 |
| Financial assets sold under repurchase agreements | ||
12 /
Customer deposits and deposits frombanks and other financial institutions
| Customer deposits and deposits from banks and other financial institutions | ||
| Funds from securities trading agency | ||
| Funds from underwriting securities agency | ||
| Employee benefits payable | 29,226,329.49 | 58,470,960.55 |
| Taxes payable | 2,462,789.92 | 8,272,768.90 |
| Other payables | 49,223,795.89 | 56,662,357.08 |
| Including: Interest payable | ||
| Dividend payable | ||
| Fees and commissions payable | ||
| Amounts payable under reinsurance contracts | ||
| Liabilities held for sale | ||
| Non-current liabilities due within one year | 131,081,219.93 | 178,031,817.37 |
| Other current liabilities | 31,215,539.56 | 28,383,608.37 |
| Total current liabilities | 881,378,804.30 | 1,088,676,504.68 |
| Non-current Liabilities: | ||
| Insurance contract reserves | ||
| Long-term borrowings | 621,520,837.98 | 403,720,542.45 |
| Bonds payable | ||
| Including: Preferred shares | ||
| Perpetual bonds | ||
| Leasing liabilities | 39,043,877.90 | 34,319,284.23 |
| Long-term payables | ||
| Long-term employee benefits payable | ||
| Estimated liabilities | 54,433,268.17 | 56,463,882.87 |
| Deferred income | 5,675,578.54 | 8,651,422.26 |
| Deferred tax liabilities | ||
| Other non-current liabilities | ||
| Total non-current liabilities | 720,673,562.59 | 503,155,131.81 |
| Total liabilities | 1,602,052,366.89 | 1,591,831,636.49 |
13 /
Owners’ Equity (Shareholders’ Equity):
| Owners’ Equity (Shareholders’ Equity): | ||
| Paid-in capital (or share capital) | 457,107,538.00 | 457,107,538.00 |
| Other equity instruments | ||
| Including: Preferred shares | ||
| Perpetual bonds | ||
| Capital reserve | 1,543,948,489.41 | 1,530,752,116.04 |
| Less: Treasury shares | 19,377,297.59 | 19,377,297.59 |
| Other comprehensive income | 5,624,053.17 | 5,736,897.41 |
| Special reserve | ||
| Surplus reserve | 75,519,782.06 | 75,519,782.06 |
| General risk reserve | ||
| Undistributed profit | 611,579,116.62 | 597,924,451.67 |
| Total owners’ (or shareholders’) equity attributable to owners of the Parent Company | 2,674,401,681.67 | 2,647,663,487.59 |
| Minority interests | 81,286,253.88 | 93,855,136.07 |
| Total owners’ (or shareholders’) equity | 2,755,687,935.55 | 2,741,518,623.66 |
| Total liabilities and owners’ (or shareholders’) equity | 4,357,740,302.44 | 4,333,350,260.15 |
Legal Representative: LI Yi Chief Accountant: WANG Yingxia Person in Charge of theAccounting Body: WANG Yingxi
Consolidated Income StatementFor the period from January to March 2023
Prepared by: Appotronics Corporation Limited
In RMB Audit type: unaudited
| Item | The First Quarter in 2023 | The First Quarter in 2022 |
| I. Total operating income | 459,012,885.14 | 525,139,870.53 |
| Including: Operating income | 459,012,885.14 | 525,139,870.53 |
| Interest income | ||
| Premiums earned | ||
| Fee and commission income | ||
| II. Total operating costs | 467,714,458.54 | 523,692,375.90 |
| Including: Operating costs | 296,672,965.87 | 354,352,194.03 |
| 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 additions | 2,246,009.39 | 2,776,916.38 |
| Selling expenses | 59,929,586.42 | 54,900,208.42 |
| Administrative expenses | 42,342,747.37 | 54,622,705.64 |
| R&D expenses | 63,434,898.20 | 54,924,987.12 |
| Financial expenses | 3,088,251.29 | 2,115,364.31 |
| Including: Interest expense | 5,966,634.80 | 5,325,013.75 |
| Interest income | 6,877,403.47 | 3,267,436.22 |
| Add: Other income | 21,723,549.50 | 12,499,685.94 |
| Investment income (loss is indicated by “-”) | -2,765,299.53 | 1,790,753.08 |
Including: Income from investments inassociates and joint ventures
| Including: Income from investments in associates and joint ventures | -5,117,145.08 | -1,202,551.48 |
| Gains from derecognition of financial assets measured at amortized cost | ||
| 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 “-”) | -130,000.00 | |
| Losses of credit impairment (loss is indicated by “-”) | 1,498,368.33 | 7,933,147.01 |
| Impairment losses of assets (loss is indicated by “-”) | -3,843,694.60 | 1,018,024.96 |
| Gains from disposal of assets (loss is indicated by “-”) | -2,903.65 | 3,849.89 |
| III. Operating profit (loss is indicated by “-”) | 7,908,446.65 | 24,562,955.51 |
| Add: Non-operating income | 311,999.47 | 79,121.80 |
| Less: Non-operating expense | 118,694.04 | 166,556.20 |
| IV. Total profits (total losses are indicated by “-”) | 8,101,752.08 | 24,475,521.11 |
| Less: Income tax expenses | 9,404,199.18 | 17,084,893.94 |
| V. Net profits (net losses are indicated by “-”) | -1,302,447.10 | 7,390,627.17 |
| (I) Categorized by the continuity of operation | ||
| 1. Net profits from continuing operations (net losses are indicated by "-") | -1,302,447.10 | 7,390,627.17 |
| 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 "-") | 13,654,664.95 | 17,858,914.53 |
2. Profits or losses
attributable to minorityshareholders (net losses areindicated by “-”)
| 2. Profits or losses attributable to minority shareholders (net losses are indicated by “-”) | -14,957,112.05 | -10,468,287.36 |
| VI. Other comprehensive income, net of tax | 421,940.06 | -2,098,194.75 |
| (I) Other comprehensive income that can be attributable to owners of the Parent Company, net of tax | -112,844.24 | -2,114,795.48 |
| 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 | -112,844.24 | -2,114,795.48 |
| (1) Other comprehensive income that will be reclassified to profit or loss under the equity method | 4,433,259.00 | -531,438.79 |
| (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 | -4,546,103.24 | -1,583,356.69 |
(7) Others
| (7) Others | ||
| (II) Other comprehensive income that can be attributable to minority shareholders, net of tax | 534,784.30 | 16,600.73 |
| VII. Total comprehensive income | -880,507.04 | 5,292,432.42 |
| (I) Total comprehensive income that can be attributable to owners of the Parent Company | 13,541,820.71 | 15,744,119.05 |
| (II) Total comprehensive income that can be attributable to minority shareholders | -14,422,327.75 | -10,451,686.63 |
| VIII. Earnings per share: | ||
| (I) Basic earnings per share (RMB/share) | 0.03 | 0.04 |
| (II) Diluted earnings per share (RMB/share) | 0.03 | 0.04 |
In the event of business combinations involving enterprises under common control, the net profitsrealized prior to the combination by the party being absorbed is: RMB 0, and the net profitsrealized in the last period by the party being absorbed is: RMB 0.Legal Representative: LI Yi Chief Accountant: WANG Yingxia Person in Charge of theAccounting Body: WANG Yingxia
Consolidated Cash Flow StatementFor the period from January to March 2023
Prepared by: Appotronics Corporation Limited
In RMB Audit type: Unaudited
| Item | The First Quarter in 2023 | The First Quarter in 2022 |
| I. Cash Flows from Operating Activties: | ||
| Cash receipts from the sale of goods and the rendering of services | 554,311,050.64 | 759,788,663.43 |
| 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 | 1,723,533.49 | 1,653,792.53 |
| Other cash receipts relating to operating activities | 33,315,025.44 | 19,019,366.32 |
| Sub-total of cash inflows from operating activities | 589,349,609.57 | 780,461,822.29 |
Cash payments for goods purchased andservices received
| Cash payments for goods purchased and services received | 404,270,221.28 | 601,723,858.74 |
| 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 | 136,748,077.35 | 131,556,204.70 |
| Payments of various types of taxes | 15,116,610.77 | 21,170,130.47 |
| Other cash payments relating to operating activities | 69,545,790.85 | 94,235,050.84 |
| Sub-total of cash outflows from operating activities | 625,680,700.25 | 848,685,244.75 |
| Net cash flow from operating activities | -36,331,090.68 | -68,223,422.47 |
| II. Cash Flows from Investing Activties: | ||
| Cash receipts from disposals and recovery of investments | 390,000,000.00 | 431,000,000.00 |
| Cash receipts from investment income | 2,405,845.55 | 2,993,304.56 |
| Net cash receipts from disposals of fixed assets, intangible assets and other long-term assets | 5,500.00 | 50.00 |
| Net cash receipts from disposals of subsidiaries and other business units | ||
| Other cash receipts relating to investing activities | ||
| Sub-total of cash inflows from | 392,411,345.55 | 433,993,354.56 |
investing activities
| investing activities | ||
| Cash payments to acquire or construct fixed assets, intangible assets and other long-term assets | 18,023,943.37 | 24,223,261.42 |
| Cash payments to acquire investments | 395,000,000.00 | 419,000,000.00 |
| 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 | 413,023,943.37 | 443,223,261.42 |
| Net cash flows from investment activities | -20,612,597.82 | -9,229,906.86 |
| III. Cash Flows from Financing Activities: | ||
| Cash receipts from capital contributions | ||
| Including: Cash receipts from capital contributions from minority | ||
| Other cash receipts relating to financing activities | 265,000,000.00 | 62,977,252.77 |
| Sub-total of cash inflows from financing activities | ||
| Cash repayments of borrowings | 265,000,000.00 | 62,977,252.77 |
| Cash payments for distribution of dividends or profits or settlement of interest expenses | 60,700,002.00 | 39,250,545.00 |
| Including: Payments for distribution of dividends or profits to minority shareholders of subsidiaries | 6,782,419.71 | 5,435,603.29 |
| Other cash payments relating to financing activities | ||
| Sub-total of cash outflows from financing activities | 7,697,165.45 | 6,680,619.57 |
| Net cash flows from financing activities | 75,179,587.16 | 51,366,767.86 |
| Other cash receipts relating to financing activities | 189,820,412.84 | 11,610,484.91 |
| IV. Effect of Foreign Exchange Rate Changes on Cash and Cash Equivalents | -5,331,963.01 | -285,263.26 |
V. Net Increase in Cash and CashEquivalents
| V. Net Increase in Cash and Cash Equivalents | 127,544,761.33 | -66,128,107.68 |
| Add: Opening balance of cash and cash equivalents | 1,254,582,403.12 | 891,195,169.00 |
| VI. Closing Balance of Cash and Cash Equivalents | 1,382,127,164.45 | 825,067,061.32 |
Legal Representative: LI Yi Chief Accountant: WANG Yingxia Person in Charge of theAccounting Body: WANG Yingxia
(I) Description of adjustments in opening balances of line items in financial statements of the yeardue to implementation of new accounting standard since 2023
□ Applicable √ N/A
Be it hereby announced
Board of Directors of Appotronics Corporation LimitedApril 28, 2023