Shenzhen Nanshan Power Co., Ltd.
The First Quarterly Report 2019
2019-021
April 2019
Section I. Important Notes
Board of Directors and the Supervisory Committee of Shenzhen Nanshan PowerCo., Ltd. (hereinafter referred to as the Company) and its directors, supervisorsand senior executives should guarantee the reality, accuracy and completion ofthe quarterly report, there are no any fictitious statements, misleadingstatements or important omissions carried in this report, and shall take legalresponsibilities, individual and/or joint.Li Xinwei, person in charge of the Company, Director GM Chen Yuhui, personin charge of accounting works and CFO Dai Xiji as well as Wang Yi (act for thefinancial management dept.), person in charge of accounting organ (accountingofficer) hereby confirm that the Financial Report of this Quarterly Report isauthentic, accurate and complete.All Directors are attended the Board Meeting for Quarterly Report deliberation.Concerning the forward-looking statements with future planning involved in theSemi-Report, they do not constitute a substantial commitment for investors.Investors are advised to exercise caution of investment risks.The report has been prepared in both Chinese and English, for anydiscrepancies, the Chinese version shall prevail. Please read the full reportseriously.
Paraphrase
| Items | Refers to | Contents |
| Company, the Company, Shen Nan Dian | Refers to | Shenzhen Nanshan Power Co., Ltd. |
| HUAENG International | Refers to | HUAENG Power International Inc |
| SASAC of Shenzhen | Refers to | State-owned Assets Supervision and Administration Committee of Shenzhen People’s Government |
| SZ Capital | Refers to | Shenzhen Capital Co., Ltd. |
| NAM HOI | Refers to | HONG KONG NAM HOI (INTERNATIONAL) LTD. |
| Shenzhen Energy Group | Refers to | Shenzhen Energy Group Co., Ltd. |
| Articles of association | Refers to | Article of Association of Shenzhen Nanshan Power Co., Ltd. |
| RMB, in 10 thousand Yuan, 100 Million Yuan | Refers to | Except the special description of the monetary unit, rest of the monetary unit is RMB Yuan, ten thousand Yuan, the 100 Million Yuan |
| Reporting period | Refers to | 1 Jan. 2019 to 31 Mar. 2019 |
Section II. Basic situation of the Company
I. Main accounting data and financial indexes
Whether it has retroactive adjustment or re-statement on previous accounting data□ Yes √No
| Current Period | Same period of last year | Changes of this period over same period of last year | |
| Operating income (RMB) | 152,975,230.74 | 403,525,942.67 | -62.09% |
| Net profit attributable to shareholders of the listed company(RMB) | -28,373,168.62 | -10,927,762.57 | 159.64% |
| Net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses(RMB) | -28,916,498.43 | -11,221,495.07 | 157.69% |
| Net cash flow arising from operating activities(RMB) | -4,897,654.96 | -69,260,605.97 | -92.93% |
| Basic earnings per share (RMB/Share) | -0.05 | -0.02 | 150.00% |
| Diluted earnings per share (RMB/Share) | -0.05 | -0.02 | 150.00% |
| Weighted average ROE | -1.47% | -0.57% | 157.89% |
| At the end of the reporting period | At the end of last year | Changes of this period-end over same period-end of last year | |
| Total assets (RMB) | 3,161,675,892.68 | 3,307,148,289.92 | -4.40% |
| Net assets attributable to shareholder of listed company (RMB) | 1,949,498,682.89 | 1,977,871,851.51 | -1.43% |
| Item | Amount from year-begin to period-end | Note |
| Gains/losses from the disposal of non-current asset (including the write-off that accrued for impairment of assets) | -402,738.25 | Income from fixed assets disposal |
| Governmental grant reckoned into current gains/losses (not including the subsidy enjoyed in quota or ration according to national standards, which are closely relevant to enterprise’s business) | 843,139.16 | Apportion of government grant with assets concerned |
| Other non-operating income and expenditure except for the aforementioned items | 79,297.63 | Income from waste material disposal |
| Less: impact on income tax | 8,648.95 | |
| Impact on minority shareholders’ equity (post-tax) | -32,280.22 | |
| Total | 543,329.81 | -- |
| Total common shareholders at the end of report period | 32,518 | Total preferred stockholders with voting rights recover at the end of report period (if applicable) | 0 | |||
| Top ten share-holding | ||||||
| Shareholder’s name | Nature of shareholder | Proportion of shares held | Amount of shares held | Amount of restricted shares held | Number of share pledged/frozen | |
| State of share | Amount | |||||
| HONG KONG NAM HOI (INTERNATIONAL) LTD. | Overseas legal person | 15.28% | 92,123,248 | |||
| Shenzhen Guangju Industrial Co., Ltd. | State-owned legal person | 12.22% | 73,666,824 | |||
| SHENZHEN ENERGY (GROUP) CO., LTD. | State-owned legal person | 10.80% | 65,106,130 | |||
| Gaohua－HSBC－GOLDMAN, SACHS & CO.LLC | Overseas legal person | 1.62% | 9,769,723 | |||
| BOCI | Overseas legal | 1.50% | 9,025,627 | |||
| SECURITIES LIMITED | person | |||||
| Zeng Ying | Domestic nature person | 1.26% | 7,595,000 | |||
| China Merchants Securities H.K. Co., Ltd. | State-owned legal person | 1.24% | 7,495,058 | |||
| Liu Fang | Domestic nature person | 0.90% | 5,425,488 | |||
| LI SHERYN ZHAN MING | Foreign nature person | 0.67% | 4,025,000 | |||
| Zhu Wen | Domestic nature person | 0.65% | 3,929,900 | |||
| Top ten shareholders with unrestricted shares held | ||||||
| Shareholder’s name | Amount of unrestricted shares held | Type of shares | ||||
| Type | Amount | |||||
| HONG KONG NAM HOI (INTERNATIONAL) LTD. | 92,123,248 | Domestically listed foreign shares | 92,123,248 | |||
| Shenzhen Guangju Industrial Co., Ltd. | 73,666,824 | RMB common shares | 73,666,824 | |||
| SHENZHEN ENERGY (GROUP) CO., LTD. | 65,106,130 | RMB common shares | 65,106,130 | |||
| Gaohua－HSBC－GOLDMAN, SACHS & CO.LLC | 9,769,723 | RMB common shares | 9,769,723 | |||
| BOCI SECURITIES LIMITED | 9,025,627 | Domestically listed foreign shares | 9,025,627 | |||
| Zeng Ying | 7,595,000 | Domestically listed foreign shares | 7,595,000 | |||
| China Merchants Securities H.K. Co., Ltd. | 7,495,058 | Domestically listed foreign shares | 7,495,058 | |||
| Liu Fang | 5,425,488 | RMB common shares | 2,364,688 | |||
| Domestically listed foreign shares | 3,060,800 | |||||
| LI SHERYN ZHAN MING | 4,025,000 | Domestically listed foreign shares | 4,025,000 |
| Zhu Wen | 3,929,900 | RMB common shares | 3,929,900 |
| Explanation on associated relationship among the aforesaid shareholders | 1. 100% equity of HONG KONG NAM HOI (INTERNATIONAL) LIMITED was held by SHENZHEN ENERGY (GROUP) CO., LTD 2. Among other social public shareholders, the Company did not know whether there were associated relationships or belonging to consistent actors. | ||
| Explanation on top 10 shareholders involving margin business (if applicable) | 1. Among the top ten shareholders, Ms. Liu Fang holds 2,346,688 shares through credit transaction guarantee securities account; 2. Among the top ten shareholders, Mr. Zhu Wen holds 3,929,900 shares through credit transaction guarantee securities account | ||
Section III. Significant Events
I. Particulars about material changes in items of main financial data and financial index andexplanations of reasons
√Applicable □Not applicable1. Monetary fund has 789.0103 million Yuan at end of the period, a decrease of 14.78% over that of period beginning, mainly due tothe loans paid to the bank;2. Note receivable and account receivable have 138.2623 million yuan at end of the period, an increase of 4.4% over that of periodbeginning, mainly because note receivable increased in the period;3. Account paid in advance has 48.3541 million Yuan at end of the period, a decrease of 9.88% over that of period beginning, mainlybecause the account paid in advance for nature gas declined;4. Other account receivable has 38.0521 million Yuan at end of the period, a decrease of 5.19% over that of period beginning, mainlybecause current account declined;5. Construction in progress has 63.2925 million Yuan at end of the period, a decrease of 23.14% over that of period beginning,mainly because the project for technical improvement completed and transfer to fixed assets;6.Ending balance of long-term pending expenses amounted as 451000 yuan with 100 percent up over that of year-beginning, mainlydue to the increase of decoration expenses for exhibition in the period;7. Other non-current assets has 22.8822 million Yuan at end of the period, a decrease of 8.12% over that of period beginning, mainlybecause account paid in advance for engineering and equipment declined;8. Short-term loan has 900 million Yuan at end of the period, a decrease of 10.00% over that of period beginning, mainly becausebank loans declined;9. Note payable and account payable has 21.7694 million Yuan at end of the period, an increase of 20.50% over that of periodbeginning, mainly because account payable for nature gas increased;10. Taxes payable has 11.8498 million Yuan at end of the period, a decrease of 25.94% over that of period beginning, mainly becauseenterprise income tax for year of 2018 are paid in the period;11. Operation revenue has 152.9752 million Yuan in the period, a decrease of 62.09% from a year earlier, mainly because sales ofelectricity revenue declined for the decline of power generation;12. Operation cost has 159.1116 million Yuan in the period, a decrease of 58.68% from a year earlier, mainly because cost of powergeneration declined for the decline of power generation;13. Tax and surcharge has 1.3876 million Yuan in the period, a decrease of 31.69% from a year earlier, mainly because the surchargefor VAT decreased;14. Sales expense has 1.0538 million Yuan in the period, an increase of 129.51% from a year earlier, mainly because sludge disposalfee increased;15. Financial expense has 4.9192 million Yuan in the period, a decrease of 52.16% from a year earlier, mainly because interestincome from the bank increased;16. Income from assets disposal has -402,700 Yuan in the period, a decrease of 100% from a year earlier, mainly because loss fromfixed assets disposal increased;17. Non-operation revenue has 104500 Yuan in the period, an increase of 5,124.29% from a year earlier, mainly because income fromdisposal of waste materials increased;
18. Non-operation expenditure has 25200 Yuan in the period, a decrease of 96.84% from a year earlier, mainly because loss fromfixed assets discharge declined in the year;19. Income tax expense has 973600 Yuan in the period, a decrease of 56.70% from a year earlier, mainly because the enterpriseincome tax accrual in the year declined due to the total profit decreased on a y-o-y basis.;20. Net cash flow arising from operation activity has -4.8977 million Yuan in the period, a decrease of 92.93% from a year earlier innet out-flow, mainly because account paid for nature gas decreased and taxes paid are declined etc.;21. Net cash flow arising from investment activity has -14.6956 million Yuan in the period, a decrease of 54.06% from a year earlierin net out-flow, mainly because fixed assets purchase and expenditure for technical improvement declined;22. Net cash flow arising from financing activity has -114.9606 million Yuan in the period, a decrease of 131.25% from a year earlierin net in-flow, mainly because net in-flow from bank loans declined .
II. Analysis and explanation of significant events and their influence and solutions
√Applicable □Not applicable
1. Free transfer of state-owned shares held by major shareholder of the Company Shenzhen Energy Group. Dueto the 75% shares held by major shareholder of the Company Shenzhen Energy Group, are plans to transfer toSZ Capital for free by Shenzhen SASAC, according to the Notice from Shenzhen Energy Group and beingapply to Shenzhen Stock Exchange, stock of the Company will suspend since 18 Feb. 2019, and continued tosuspend since 20 Feb. 2019 and resumption since 21 Feb. 2019; on 1 March 2019, Shenzhen SASAC enteredinto an Free Transfer of State-owned Shares of Shenzhen Energy Group with SZ Capital, the 75% shares ofShenzhen Energy Group will transfer to SZ Capital for free; on 8 April 2019, the above mentioned state-ownedshares transfer has completed the registration changed in industrial and commerce bureau, and obtained theNotice of Change (Filing) from Shenzhen Market Supervision and Administration. Before the state-ownedtransferred, 65,106,130 (A-share) shares are directly held by Shenzhen Energy Group, a 10.80% in total sharecapital of the Company, and 92,123,248 (B-share) shares are indirectly held with 15.28% takes, totally157,229,378 shares of the Company are held by Shenzhen Energy Group, a 26.08% in total share capital. Afterthe state-owned shares transfer, SZ Capital comes to the controlling shareholder of Shenzhen Energy Groupwith 75% shares held, Shenzhen Energy Group still is the first largest shareholder of the Company. TheCompany did not have controlling shareholder and actual controller either.(found more in Notice of Suspensionfor Major Events, Continue Suspension and Progress of Major Events, Progress of Major Events andResumption, A Prompt Notice on Free Transfer of Major Shareholder’s State-Owned Shares, Detail Report onChanges in Equity and Notice on Completion of Registration of Industrial and Commercial Changes by FreeTransfer of State-owned Shares of major shareholders released on China Securities Jornal, Securities Times,Hong Kong Commercial Daily and Juchao Website with Notice No as 2019—001, 2019—002, 2019—003,2019—005 and 2019—016)2. Project of ‘Shenzhen Blue” Technical Improvement: in reporting period, the Company continues topromoted the technical improvement of “Shenzhen Blue”. and on 15 March 2019, the upgrading of lownitrogen burner of the last one 9E gas genset in Nanshan Power Plant has been completed, after improvement,the nitrogen oxide emission value superior to the government requirements as 15mg/m
, thus, the upgradingand improvement work of “Shenzhen Blue” has been successfully completed. The Company will activelyfollow up implementation of government subsidy.Except for the above mentioned, the projects as Guangdong Aid to Xingjiang participated in 2013, the benefitfund of the technical improvement, collection work for funds refundable, and relevant works of T102-0011 andT102-0155 lands are no have progress in the reporting period.
Implementation progress of shares buy-back□ Applicable √ Not applicableImplementation progress of the reduction of repurchases shares by centralized bidding□ Applicable √ Not applicable
III. Commitments completed in Period and those without completed till end of the Periodfrom actual controller, shareholders, related parties, purchaser and companies
□ Applicable √ Not applicableThe Company has no commitments completed in Period and those without completed till end of the Period from actual controller,shareholders, related parties, purchaser and companies.
IV. Predict of the business performance from January to June 2017
Warnings and reasons of the predict that the cumulative net profit from the begin of the year to the end of next report period may beloss or have great changes comparing with the same period of last year□Applicable √Not applicable
V. Securities Investment
□ Applicable √ Not applicableNo security investment in Period.
VI. Derivative investment
□ Applicable √ Not applicableNo derivative investment in the Period.
VII. Registration form for receiving research, communication and interview in the reportperiod
√ Applicable □Not applicable
| Time | Way | Type | Basic situation index of investigation |
| 2019-02-22 | Field research | Individual （2） | Search the register of shareholders |
| 2019-03-05 | Field research | Individual （9） | Search the register of shareholders |
| 2019-03-19 | Field research | Individual （3） | Search the register of shareholders |
| 2019-03-26 | Field research | Individual （6） | Search the register of shareholders |
| Jan.-Mar. 2019 | Reply on interaction easily | Individual （5） | Continuing operation of the Company, events of lands of Nanshan Power Plant |
| and numbers of shareholders etc., reply in written | |||
| Jan.-Mar. 2019 | Telephone communication | Individual （times） | Continuing operation of the Company, events of lands of Nanshan Power Plant, no material acquired |
Section IV. Financial Statement
I. Financial statement
1. Consolidate balance sheet
Prepared by Shenzhen Nanshan Power Co., Ltd
In RMB
| Items | 2019-3-31 | 2018-12-31 |
| Current assets: | ||
| Monetary fund | 789,010,297.84 | 925,829,404.44 |
| Settlement provisions | ||
| Capital lent | ||
| Transactional financial assets | ||
| Financial assets measured by fair value and with variation reckoned into current gains/losses | ||
| Derivative financial assets | ||
| Note receivable and account receivable | 138,262,279.36 | 132,430,024.97 |
| Including: Notes receivable | 1,500,000.00 | |
| Accounts receivable | 136,762,279.36 | 132,430,024.97 |
| Account paid in advance | 48,354,119.27 | 53,655,777.12 |
| Insurance receivable | ||
| Reinsurance receivables | ||
| Contract reserve of reinsurance receivable | ||
| Other account receivable | 38,052,060.78 | 40,133,297.74 |
| Including: Interest receivable | ||
| Dividends receivable | ||
| Buying back the sale of financial assets | ||
| Inventories | 118,190,324.28 | 124,758,334.97 |
| Contractual assets | ||
| Assets held for sale |
| Non-current assets maturing within one year | ||
| Other current assets | 389,472,247.51 | 390,108,844.11 |
| Total current assets | 1,521,341,329.04 | 1,666,915,683.35 |
| Non-current assets: | ||
| Loans and payments on behalf | ||
| Debt investment | ||
| Available-for-sale financial assets | 60,615,000.00 | 60,615,000.00 |
| Other debt investment | ||
| Held-to-maturity investments | ||
| Long-term receivables | ||
| Long-term equity investments | 15,617,291.85 | 16,049,044.95 |
| Investment in other equity instrument | ||
| Other non-current financial assets | ||
| Investment real estate | 2,557,268.31 | 2,606,302.71 |
| Fixed assets | 1,427,480,166.98 | 1,405,649,989.24 |
| Construction in progress | 63,292,505.54 | 82,348,008.39 |
| Productive biological assets | ||
| Oil and natural gas assets | ||
| Right-of-use assets | ||
| Intangible assets | 45,367,848.72 | 45,987,255.24 |
| Research and development costs | ||
| Goodwill | ||
| Long-term deferred expenses | 450,976.20 | |
| Deferred income tax assets | 2,071,324.26 | 2,071,324.26 |
| Other non-current assets | 22,882,181.78 | 24,905,681.78 |
| Total non-current assets | 1,640,334,563.64 | 1,640,232,606.57 |
| Total assets | 3,161,675,892.68 | 3,307,148,289.92 |
| Current liabilities | ||
| Short-term borrowings | 900,000,000.00 | 1,000,000,000.00 |
| Loan from central bank | ||
| Capital borrowed | ||
| Transactional financial liability | ||
| Financial liability measured by fair value and with variation reckoned into |
| current gains/losses | ||
| Derivative financial liability | ||
| Notes payable & account payable | 21,769,447.66 | 18,065,898.69 |
| Accounts received in advance | ||
| Selling financial asset of repurchase | ||
| Absorbing deposit and interbank deposits | ||
| Agent buying and selling securities | ||
| Acting underwriting securities | ||
| Wage payable | 40,699,716.19 | 44,912,599.66 |
| Taxes payable | 11,849,758.95 | 16,000,039.55 |
| Other accounts payable | 61,532,763.02 | 63,091,881.43 |
| Including: Interest payable | 1,135,362.09 | 1,608,290.72 |
| Dividend payable | ||
| Handling fees and commissions payable | ||
| Reinsurance payable | ||
| Contractual liability | ||
| Liability held for sale | ||
| Non-current liabilities due within one year | ||
| Other current liabilities | ||
| Total current liabilities | 1,035,851,685.82 | 1,142,070,419.33 |
| Non-current liabilities: | ||
| Insurance contract reserve | ||
| Long-term loans | 21,940,000.00 | 25,940,000.00 |
| Bonds payable | ||
| Including: preferred stock | ||
| Perpetual capital securities | ||
| Lease liability | ||
| Long-term account payable | ||
| Accrued liabilities | 26,726,232.38 | 26,726,232.38 |
| Deferred income | 74,769,120.17 | 75,612,259.33 |
| Deferred income tax liabilities | ||
| Other non-current liabilities |
| Total non-current liabilities | 123,435,352.55 | 128,278,491.71 |
| Total liabilities | 1,159,287,038.37 | 1,270,348,911.04 |
| Owners’ equity: | ||
| Share capital | 602,762,596.00 | 602,762,596.00 |
| Other equity instrument | ||
| Including: preferred stock | ||
| Perpetual capital securities | ||
| Capital public reserve | 362,770,922.10 | 362,770,922.10 |
| Less: Inventory shares | ||
| Other comprehensive income | ||
| Surplus reserve | 332,908,397.60 | 332,908,397.60 |
| Provision of general risk | ||
| Retained profit | 651,056,767.19 | 679,429,935.81 |
| Total owner’s equity attributable to parent Company | 1,949,498,682.89 | 1,977,871,851.51 |
| Minority interests | 52,890,171.42 | 58,927,527.37 |
| Total owner’s equity | 2,002,388,854.31 | 2,036,799,378.88 |
| Total liabilities and owner’s equity | 3,161,675,892.68 | 3,307,148,289.92 |
| Items | 2019-3-31 | 2018-12-31 |
| Current assets: | ||
| Monetary fund | 655,283,552.62 | 766,041,463.01 |
| Transactional financial assets | ||
| Financial assets measured by fair value and with variation reckoned into current gains/losses | ||
| Derivative financial assets | ||
| Note receivable and account | 25,933,876.70 | 50,415,180.20 |
| receivable | ||
| Including: Notes receivable | ||
| Accounts receivable | 25,933,876.70 | 50,415,180.20 |
| Account paid in advance | 44,595,439.09 | 33,326,061.81 |
| Other account receivable | 1,147,841,633.04 | 1,048,357,217.53 |
| Including: Interest receivable | ||
| Dividends receivable | ||
| Inventories | 106,374,215.06 | 111,279,675.08 |
| Contractual assets | ||
| Assets held for sale | ||
| Non-current assets maturing within one year | ||
| Other current assets | 365,808,635.75 | 362,678,678.87 |
| Total current assets | 2,345,837,352.26 | 2,372,098,276.50 |
| Non-current assets: | ||
| Debt investment | ||
| Available-for-sale financial assets | 60,615,000.00 | 60,615,000.00 |
| Other debt investment | ||
| Held-to-maturity investments | ||
| Long-term receivables | ||
| Long-term equity investments | 303,341,165.00 | 303,341,165.00 |
| Investment in other equity instrument | ||
| Other non-current financial assets | ||
| Investment real estate | ||
| Fixed assets | 306,724,823.78 | 284,572,482.22 |
| Construction in progress | 5,858,709.40 | 16,490,240.75 |
| Productive biological assets | ||
| Oil and natural gas assets | ||
| Right-of-use assets | ||
| Intangible assets | 1,217,186.40 | 1,518,096.75 |
| Research and development costs | ||
| Goodwill | ||
| Long-term deferred expenses | ||
| Deferred income tax assets | ||
| Other non-current assets |
| Total non-current assets | 677,756,884.58 | 666,536,984.72 |
| Total assets | 3,023,594,236.84 | 3,038,635,261.22 |
| Current liabilities | ||
| Short-term borrowings | 860,000,000.00 | 860,000,000.00 |
| Transactional financial liability | ||
| Financial liability measured by fair value and with variation reckoned into current gains/losses | ||
| Derivative financial liability | ||
| Notes payable & account payable | 8,326,114.90 | 5,349,562.56 |
| Accounts received in advance | ||
| Contractual liability | ||
| Wage payable | 25,986,264.30 | 26,953,632.92 |
| Taxes payable | 6,292,362.72 | 11,962,377.72 |
| Other accounts payable | 158,979,178.36 | 157,816,358.94 |
| Including: Interest payable | 1,135,362.09 | |
| Dividend payable | ||
| Liability held for sale | ||
| Non-current liabilities due within one year | ||
| Other current liabilities | ||
| Total current liabilities | 1,059,583,920.28 | 1,062,081,932.14 |
| Non-current liabilities: | ||
| Long-term loans | ||
| Bonds payable | ||
| Including: preferred stock | ||
| Perpetual capital securities | ||
| Lease liability | ||
| Long-term account payable | ||
| Accrued liabilities | ||
| Deferred income | 40,969,318.97 | 41,337,945.14 |
| Deferred income tax liabilities | ||
| Other non-current liabilities | ||
| Total non-current liabilities | 40,969,318.97 | 41,337,945.14 |
| Total liabilities | 1,100,553,239.25 | 1,103,419,877.28 |
| Owners’ equity: | ||
| Share capital | 602,762,596.00 | 602,762,596.00 |
| Other equity instrument | ||
| Including: preferred stock | ||
| Perpetual capital securities | ||
| Capital public reserve | 289,963,039.70 | 289,963,039.70 |
| Less: Inventory shares | ||
| Other comprehensive income | ||
| Surplus reserve | 332,908,397.60 | 332,908,397.60 |
| Retained profit | 697,406,964.29 | 709,581,350.64 |
| Total owner’s equity | 1,923,040,997.59 | 1,935,215,383.94 |
| Total liabilities and owner’s equity | 3,023,594,236.84 | 3,038,635,261.22 |
| Items | Current Period | Last Period |
| I. Total operating income | 152,975,230.74 | 403,525,942.67 |
| Including: Operating income | 152,975,230.74 | 403,525,942.67 |
| Interest income | ||
| Insurance gained | ||
| Handling fees and commissions income | ||
| II. Total operating cost | 187,113,939.80 | 416,971,883.63 |
| Including: Operating cost | 159,111,562.68 | 385,053,424.45 |
| Interest expense | ||
| Handling fees and commissions expenses | ||
| Cash surrender value | ||
| Net amount of expense of compensation | ||
| Net amount of withdrawal of insurance contract reserve | ||
| Bonus expense of guarantee slip | ||
| Reinsurance expense | ||
| Taxes and surcharge | 1,387,607.12 | 2,031,387.85 |
| Sales expenses | 1,053,802.16 | 459,156.87 |
| Administration expenses | 20,641,767.60 | 19,145,685.78 |
| R&D expenses | ||
| Financial expenses | 4,919,200.24 | 10,282,228.68 |
| Including: interest expenses | 12,647,043.44 | 11,002,416.40 |
| Interest income | -7,889,780.98 | -963,023.73 |
| Losses of devaluation of asset | ||
| Loss of credit impairment | ||
| Add: other income | 1,456,931.10 | 1,714,804.83 |
| Investment income (Loss is listed with “-”) | -431,753.10 | -532,242.73 |
| Including: Investment income on affiliated Company and joint venture | ||
| Exchange income (Loss is listed with “-”) | ||
| Net exposure hedging income (Loss is listed with “-”) | ||
| Changing income of fair value(Loss is listed with “-”) | ||
| Income on disposal of assets (Loss is listed with “-”) | -402,738.25 | |
| III. Operating profit (Loss is listed with “-”) | -33,516,269.31 | -12,263,378.86 |
| Add: Non-operating income | 104,485.70 | 2,000.00 |
| Less: Non-operating expense | 25,188.07 | 796,877.44 |
| IV. Total Profit (Loss is listed with “-”) | -33,436,971.68 | -13,058,256.30 |
| Less: Income tax | 973,552.89 | 2,248,293.10 |
| V. Net profit (Net loss is listed with “-”) | -34,410,524.57 | -15,306,549.40 |
| (i) Classify by business continuity | ||
| 1.continuous operating net profit (net loss listed with ‘-”) | ||
| 2.termination of net profit (net loss listed with ‘-”) | ||
| (ii) Classify by ownership | ||
| 1.Net profit attributable to owner’s of parent company | -28,373,168.62 | -10,927,762.57 |
| 2.Minority shareholders’ gains and losses | -6,037,355.95 | -4,378,786.83 |
| VI. Net after-tax of other comprehensive income | ||
| Net after-tax of other comprehensive income attributable to owners of parent company | ||
| (I) Other comprehensive income items which will not be reclassified subsequently to profit of loss | ||
| 1.Changes of the defined benefit plans that re-measured | ||
| 2.Other comprehensive income under equity method that cannot be transfer to gain/loss | ||
| 3.Change of fair value of investment in other equity instrument | ||
| 4.Fair value change of enterprise's credit risk | ||
| 5. Other | ||
| (II) Other comprehensive income items which will be reclassified subsequently to profit or loss | ||
| 1.Other comprehensive income under equity method that can transfer to gain/loss | ||
| 2.Change of fair value of other debt investment | ||
| 3.gain/loss of fair value changes for available-for-sale financial assets | ||
| 4.Amount of financial assets re-classify to other comprehensive income | ||
| 5.Gain/loss of held-to-maturity investments that re-classify to available-for-sale financial asset | ||
| 6.Credit impairment provision for other debt investment | ||
| 7.Cash flow hedging reserve | ||
| 8.Translation differences arising on translation of foreign currency financial statements | ||
| 9.Other | ||
| Net after-tax of other comprehensive income attributable to minority shareholders |
| VII. Total comprehensive income | -34,410,524.57 | -15,306,549.40 |
| Total comprehensive income attributable to owners of parent Company | -28,373,168.62 | -10,927,762.57 |
| Total comprehensive income attributable to minority shareholders | -6,037,355.95 | -4,378,786.83 |
| VIII. Earnings per share: | ||
| (i) Basic earnings per share | -0.05 | -0.02 |
| (ii) Diluted earnings per share | -0.05 | -0.02 |
| Items | Current Period | Last Period |
| I. Operating income | 51,953,247.12 | 165,304,888.90 |
| Less: Operating cost | 59,371,196.61 | 155,632,212.68 |
| Taxes and surcharge | 548,340.11 | 178,168.35 |
| Sales expenses | ||
| Administration expenses | 11,917,938.97 | 9,385,988.12 |
| R&D expenses | ||
| Financial expenses | -7,572,589.42 | -6,277,213.03 |
| Including: interest expenses | 11,511,308.35 | 4,256,330.00 |
| Interest income | -19,015,116.03 | -10,401,896.66 |
| Losses of devaluation of asset | ||
| Loss of credit impairment | ||
| Add: other income | 368,626.17 | 762,430.33 |
| Investment income (Loss is listed with “-”) | ||
| Including: Investment income on affiliated Company and joint venture |
| Net exposure hedging income (Loss is listed with “-”) | ||
| Changing income of fair value(Loss is listed with “-”) | ||
| Income on disposal of assets (Loss is listed with “-”) | -231,373.37 | |
| II. Operating profit (Loss is listed with “-”) | -12,174,386.35 | 7,148,163.11 |
| Add: Non-operating income | ||
| Less: Non-operating expense | 786,877.44 | |
| III. Total Profit (Loss is listed with “-”) | -12,174,386.35 | 6,361,285.67 |
| Less: Income tax | 1,590,321.42 | |
| IV. Net profit (Net loss is listed with “-”) | -12,174,386.35 | 4,770,964.25 |
| (i)continuous operating net profit (net loss listed with ‘-”) | ||
| (ii) termination of net profit (net loss listed with ‘-”) | ||
| V. Net after-tax of other comprehensive income | ||
| (I) Other comprehensive income items which will not be reclassified subsequently to profit of loss | ||
| 1.Changes of the defined benefit plans that re-measured | ||
| 2.Other comprehensive income under equity method that cannot be transfer to gain/loss | ||
| 3.Change of fair value of investment in other equity instrument | ||
| 4.Fair value change of enterprise's credit risk | ||
| 5. Other | ||
| (II) Other comprehensive income items which will be reclassified subsequently to profit or loss | ||
| 1.Other comprehensive income under equity method that can |
| transfer to gain/loss | ||
| 2.Change of fair value of other debt investment | ||
| 3.gain/loss of fair value changes for available-for-sale financial assets | ||
| 4.Amount of financial assets re-classify to other comprehensive income | ||
| 5.Gain/loss of held-to-maturity investments that re-classify to available-for-sale financial asset | ||
| 6.Credit impairment provision for other debt investment | ||
| 7.Cash flow hedging reserve | ||
| 8.Translation differences arising on translation of foreign currency financial statements | ||
| 9.Other | ||
| VI. Total comprehensive income | -12,174,386.35 | 4,770,964.25 |
| VII. Earnings per share: | ||
| (i) Basic earnings per share | ||
| (ii) Diluted earnings per share |
| Items | Current Period | Last Period |
| I. Cash flows arising from operating activities: | ||
| Cash received from selling commodities and providing labor services | 186,351,276.89 | 389,122,193.60 |
| Net increase of customer deposit and interbank deposit | ||
| Net increase of loan from central bank |
| Net increase of capital borrowed from other financial institution | ||
| Cash received from original insurance contract fee | ||
| Net cash received from reinsurance business | ||
| Net increase of insured savings and investment | ||
| Net increase of amount from disposal financial assets that measured by fair value and with variation reckoned into current gains/losses | ||
| Cash received from interest, commission charge and commission | ||
| Net increase of capital borrowed | ||
| Net increase of returned business capital | ||
| Net cash received by agents in sale and purchase of securities | ||
| Write-back of tax received | 620,709.11 | |
| Other cash received concerning operating activities | 22,895,402.99 | 2,172,748.21 |
| Subtotal of cash inflow arising from operating activities | 209,246,679.88 | 391,915,650.92 |
| Cash paid for purchasing commodities and receiving labor service | 154,761,126.02 | 394,654,009.46 |
| Net increase of customer loans and advances | ||
| Net increase of deposits in central bank and interbank | ||
| Cash paid for original insurance contract compensation | ||
| Net increase of financial assets held for transaction purposes | ||
| Net increase of capital lent | ||
| Cash paid for interest, commission charge and commission |
| Cash paid for bonus of guarantee slip | ||
| Cash paid to/for staff and workers | 38,267,116.27 | 34,455,664.92 |
| Taxes paid | 9,429,950.97 | 22,451,695.31 |
| Other cash paid concerning operating activities | 11,686,141.58 | 9,614,887.20 |
| Subtotal of cash outflow arising from operating activities | 214,144,334.84 | 461,176,256.89 |
| Net cash flows arising from operating activities | -4,897,654.96 | -69,260,605.97 |
| II. Cash flows arising from investing activities: | ||
| Cash received from recovering investment | ||
| Cash received from investment income | ||
| Net cash received from disposal of fixed, intangible and other long-term assets | 1,989,560.00 | 262,500.00 |
| Net cash received from disposal of subsidiaries and other units | ||
| Other cash received concerning investing activities | ||
| Subtotal of cash inflow from investing activities | 1,989,560.00 | 262,500.00 |
| Cash paid for purchasing fixed, intangible and other long-term assets | 16,685,177.41 | 32,248,431.89 |
| Cash paid for investment | ||
| Net increase of mortgaged loans | ||
| Net cash received from subsidiaries and other units obtained | ||
| Other cash paid concerning investing activities | ||
| Subtotal of cash outflow from investing activities | 16,685,177.41 | 32,248,431.89 |
| Net cash flows arising from investing activities | -14,695,617.41 | -31,985,931.89 |
| III. Cash flows arising from financing |
| activities | ||
| Cash received from absorbing investment | ||
| Including: Cash received from absorbing minority shareholders’ investment by subsidiaries | ||
| Cash received from loans | 230,000,000.00 | 530,000,000.00 |
| Cash received from issuing bonds | ||
| Other cash received concerning financing activities | 2,133,338.86 | 15,460,000.00 |
| Subtotal of cash inflow from financing activities | 232,133,338.86 | 545,460,000.00 |
| Cash paid for settling debts | 334,000,000.00 | 167,000,000.00 |
| Cash paid for dividend and profit distributing or interest paying | 13,093,959.02 | 10,555,809.13 |
| Including: Dividend and profit of minority shareholder paid by subsidiaries | ||
| Other cash paid concerning financing activities | ||
| Subtotal of cash outflow from financing activities | 347,093,959.02 | 177,555,809.13 |
| Net cash flows arising from financing activities | -114,960,620.16 | 367,904,190.87 |
| IV. Influence on cash and cash equivalents due to fluctuation in exchange rate | -131,875.21 | -231,298.80 |
| V. Net increase of cash and cash equivalents | -134,685,767.74 | 266,426,354.21 |
| Add: Balance of cash and cash equivalents at the period -begin | 914,956,611.70 | 411,613,377.07 |
| VI. Balance of cash and cash equivalents at the period -end | 780,270,843.96 | 678,039,731.28 |
| Items | Current Period | Last Period |
| I. Cash flows arising from operating |
| activities: | ||
| Cash received from selling commodities and providing labor services | 80,902,171.49 | 165,849,848.40 |
| Write-back of tax received | ||
| Other cash received concerning operating activities | 38,366,707.44 | 892,094.12 |
| Subtotal of cash inflow arising from operating activities | 119,268,878.93 | 166,741,942.52 |
| Cash paid for purchasing commodities and receiving labor service | 72,960,767.27 | 164,618,568.76 |
| Cash paid to/for staff and workers | 22,272,693.24 | 19,415,113.07 |
| Taxes paid | 6,293,432.39 | 6,308,794.09 |
| Other cash paid concerning operating activities | 107,367,157.23 | 22,699,771.73 |
| Subtotal of cash outflow arising from operating activities | 208,894,050.13 | 213,042,247.65 |
| Net cash flows arising from operating activities | -89,625,171.20 | -46,300,305.13 |
| II. Cash flows arising from investing activities: | ||
| Cash received from recovering investment | ||
| Cash received from investment income | ||
| Net cash received from disposal of fixed, intangible and other long-term assets | 1,794,800.00 | 262,500.00 |
| Net cash received from disposal of subsidiaries and other units | ||
| Other cash received concerning investing activities | ||
| Subtotal of cash inflow from investing activities | 1,794,800.00 | 262,500.00 |
| Cash paid for purchasing fixed, intangible and other long-term assets | 11,886,483.79 | 28,368,843.96 |
| Cash paid for investment |
| Net cash received from subsidiaries and other units obtained | ||
| Other cash paid concerning investing activities | ||
| Subtotal of cash outflow from investing activities | 11,886,483.79 | 28,368,843.96 |
| Net cash flows arising from investing activities | -10,091,683.79 | -28,106,343.96 |
| III. Cash flows arising from financing activities | ||
| Cash received from absorbing investment | ||
| Cash received from loans | 230,000,000.00 | 360,000,000.00 |
| Cash received from issuing bonds | ||
| Other cash received concerning financing activities | 11,660,000.00 | |
| Subtotal of cash inflow from financing activities | 230,000,000.00 | 371,660,000.00 |
| Cash paid for settling debts | 230,000,000.00 | 30,000,000.00 |
| Cash paid for dividend and profit distributing or interest paying | 11,040,179.19 | 3,194,917.92 |
| Other cash paid concerning financing activities | ||
| Subtotal of cash outflow from financing activities | 241,040,179.19 | 33,194,917.92 |
| Net cash flows arising from financing activities | -11,040,179.19 | 338,465,082.08 |
| IV. Influence on cash and cash equivalents due to fluctuation in exchange rate | -876.21 | -1,583.93 |
| V. Net increase of cash and cash equivalents | -110,757,910.39 | 264,056,849.06 |
| Add: Balance of cash and cash equivalents at the period -begin | 766,041,463.01 | 148,223,551.05 |
| VI. Balance of cash and cash equivalents at the period -end | 655,283,552.62 | 412,280,400.11 |
II. Explanation on financial statement adjustment
1. Financial statement adjustment at the beginning of the first year when implementation of new financialinstrument rules, new revenue rules and new leasing rules
□Applicable √Not applicable
2. Retrospective adjustment of the comparative data for initial implementation of new financial instrumentrules and new leasing rules
□Applicable √Not applicable
III. Audit report
Whether the 1
st
quarterly report has been audited or not□Yes √ No1Q report of the Company is unaudited.