Tunghsu Optoelectronic Technology Co., Ltd. Main Performance Report 2019 April 2020 Contents I.Important Notice ......................................................................................................................... 2 II.Basic information about the company ................................................................................. 4 III. Significant Events .................................................................................................................. 6 IV. Financial Statement ............................................................................................................. 10 I. Important Notice The Board of Directors ,Supervisory Committee, all directors, supervisorsand senior executives of the Company hereby guarantees that there are nomisstatement, misleading representation, significant differences with the auditannual report or important omissions in this report and shall assume joint andseveral liability for the authenticity, accuracy and completeness of the contentshereof. II. Basic information about the company I. Main financial data and financial indexIndicate by tick mark whether the Company needs to retroactively restate any of its accounting data. □ Yes √ No | Reporting Period | Same period of last year | Changed(%)over end of prev. year | Operating revenue (Yuan) | 16,693,053,104.79 | 28,211,700,021.12 | -40.83% | Net profit attributable to the shareholders of the listed company(Yuan) | -1,141,678,409.22 | 2,163,607,505.39 | -152.77% | Net profit after deducting of non-recurring gain/loss attributable to the shareholders of listed company(Yuan) | -1,462,689,608.29 | 2,045,875,472.28 | -171.49% | Net cash generated from /used in operating activities(Yuan) | -4,103,315,519.05 | 388,252,004.52 | -1,156.87% | Basic earning per share(Yuan/Share) | -0.20 | 0.38 | -152.63% | Diluted gains per share(Yuan/Share) | -0.20 | 0.38 | -152.63% | Weighted average return on equity | -3.60% | 6.83% | -10.43% | | As at the end of the reporting period | As at the end of last year | Changed(%)over end of prev. year | Gross assets(Yuan) | 69,628,320,928.19 | 72,576,122,859.60 | -4.06% | Net assets attributable to the shareholders of the listed company(Yuan) | 31,020,123,473.81 | 32,521,130,925.14 | -4.62% |
Total number of common shareholders at the period-end | 409,902 (including 393,031 shareholders holding A shares and 16,871 shareholders holding B shares) | Total preference shareholders with the voting power recovered at the end of the reporting period(if any) | 0 | Shares held by the top 10 shareholders | Shareholder name | Properties of shareholder | Share proportion % | Quantity | Amount of tradable shares with Conditional held | Pledging or freezing | Status of the shares | Quantity | Tunghsu Group Co., Ltd. | Domestic Non - | 15.97% | 915,064,091 | 352,006,791 | Pledge | 799,643,042 |
| State-owned legal person | | | | Freezing | 915,064,091 | Shijiazhuang Baoshi Electronic Group Co., Ltd. | Domestic Non -State-owned legal person | 5.80% | 332,382,171 | | Pledge | 153,520,000 | Shanghai Huimao Enterprise Management Co., Ltd. | Domestic Non -State-owned legal person | 4.58% | 262,626,262 | 262,626,262 | Pledge | 80,000,000 | Shenzhen Taianer Information Technology Co., Ltd. | Domestic Non -State-owned legal person | 1.07% | 61,165,682 | | Pledge | 61,165,682 | Hong Kong Securities Clearing Co., Ltd. | Overseas Legal person | 0.95% | 54,659,412 | | | | Kunshan Development Zone State-Owned Investment Holding Co., Ltd. | State-owned legal person | 0.73% | 41,838,269 | | | | Tunghsu Optoelectronic Technology Co., Ltd.-The first ESOP | Other | 0.62% | 35,614,131 | | | | Beixin Ruifeng Fund-China Merchants Bank-Daye Trust-Daye Trust·Profit increase 3 single fund plan | Other | 0.54% | 31,095,032 | | | | China Securities Finance Co., Ltd. | Domestic Non -State-owned legal person | 0.54% | 30,906,112 | | | | Mianyang Science and Technology Development Investment(Group)Co.,Ltd | State-owned legal person | 0.20% | 11,380,165 | | Pledge | 11,380,000 | Shares held by the Top 10 Shareholders of Non-restricted shares | Shareholders’ Names | Number of the non-restricted shares held | Share type | Share type | Quantity | Tunghsu Group Co., Ltd. | 563,057,300 | RMB Common shares | 563,057,300 | Shijiazhuang Baoshi Electronic Group Co., Ltd. | 332,382,171 | RMB Common shares | 332,382,171 | Shenzhen Taianer Information Technology Co., Ltd. | 61,165,682 | RMB Common shares | 61,165,682 | Hong Kong Securities Clearing Co., Ltd. | 54,659,412 | RMB Common | 54,659,412 |
| | shares | | Kunshan Development Zone State-Owned Investment Holding Co., Ltd. | 41,838,269 | RMB Common shares | 41,838,269 | Tunghsu Optoelectronic Technology Co., Ltd.-The first ESOP | 35,614,131 | RMB Common shares | 35,614,131 | Beixin Ruifeng Fund-China Merchants Bank-Daye Trust-Daye Trust·Profit increase 3 single fund plan | 31,095,032 | RMB Common shares | 31,095,032 | China Securities Finance Co., Ltd. | 30,906,112 | RMB Common shares | 30,906,112 | Mianyang Science and Technology Development Investment(Group)Co.,Ltd | 11,380,165 | RMB Common shares | 11,380,165 | Industrial and Commercial Bank of China Co., Ltd.- Huatai Borui Husheng 300 Exchange Traded Fund | 10,882,353 | RMB Common shares | 10,882,353 | Explanation on shareholders participating in the margin trading business | Among the top ten shareholders , Tunghsu Group and, Baoshi Group have relationship and constitute persons taking concerted action. The company does not know whether there is relationship between other 8 shareholders or whether they are persons taking concerted action defined in Administrative Measures Relating to Acquisitions of Listed Companies | Participation of top 10 unconditional common share shareholders in securities margin trading (if any) | In the top ten shareholders ,Baoshi Group is participating in the margin trading business through Southwest Securities on the credit account, including 178,856,500 shares. |
III Significant EventsI. Major changes of main accounting statement items and financial indicators in the reportingperiod, as well as reasons for the changes √ Applicable □ Not applicable No | Items | Ending balance | Opening balance | Changes | Remarks on the change | 1 | Cash and bank balances | 11,580,819,578.44 | 19,807,094,397.16 | -41.53% | Mainly due to the purchase of raw materials and equipment | 2 | Non-current liability due within 1 year | 7,841,514,464.78 | 3,697,392,864.91 | 112.08% | Mainly due to the reclassification of debt | 3 | Bond payable | 301,145,832.60 | 5,630,818,825.32 | -94.65% | Mainly due to the reclassification of debt | 4 | Impairment loss of assets | -1,223,841,304.69 | -93,480,733.09 | 1209.19% | Mainly due to the amortization of good will and assets | 5 | Prepayments | 8,993,206,274.68 | 5,215,414,219.51 | 72.44% | Mainly due to the purchase of raw materials and equipment | 6 | Other accounts receiveble | 4,831,348,641.69 | 1,125,991,020.55 | 32.9.08% | Mainly due to the accounts receivable from external business activity | No | Items | Year-beginning to the end of the report period | Same period of last year | Changes | Remarks on the change | 1 | Revenue | 16,693,053,104.79 | 28,211,700,021.12 | -40.83% | The main reason are 1、Company optimized the product structure and concentrated the resources to strengthen the quality product development. 2、Revenue decreased by a great amount due to the debt default. | 2 | Operating costs | 13,986,404,125.31 | 23,204,078,792.38 | -39.72% | Mainly due to corresponding changes in business income | 3 | Other income | 470,114,188 | 251,303,953 | 87.07% | Mainly due to the increase in government grant |
II. The progress of significant events and influence, as well as the analysis and explanation onresolving proposal. √ Applicable □ Not applicable On 18 Nov. 2019 and 2 Dec. 2019, due to the situation of short-term illiquidity, company failed to fully repay the interest andrepurchased principal of the medium term note on 2016 including the first period(note abbreviation:16 Tunghsu OptoelectronicMTN001B, note code:101659065)and the second period((note abbreviation:16 Tunghsu Optoelectronic MTN002, notecode:101659066) in time.The Committee of debt is designated to manage、coordinate and resolve the repayment of the medium term notes.Meanwhile, management is thriving to lower costs and improve efficiency. The board is also carrying forward various measures:1、Speeding up the collection of accounts receivables 2、Improving liquidity through multi-channels of financing 3、Negotiatingwith the bondholders for more support of liquidity 4、Negotiating with banks for un-restrict of restricted funds. 5、Raising funds byliquidating non-operating business lines. Significant Events | Disclosure Date | Basic Index | Announcement of failure to repay the interests and repurchased principal of medium term note of the first period on 2016 in time | 19 Nov. 2019 | China money website:www.chinamoney.com.cn | Suggestive Announcement of failure to repay the interests of medium term note of the first period on 2016 in time | 19 Nov. 2019 | Juchao website: www.cninfo.com.cn | Special Suggestive Announcement of uncertainty to repay the interests and repurchased principal of medium term note of the second period on 2016 | 25 Nov. 2019 | China money website:www.chinamoney.com.cn | Announcement of bondholders’ meeting of Tunghsu Optoelectronic Technology Co. medium term note on 2016 including the first period and the second period | 25 Nov. 2019 | China money website:www.chinamoney.com.cn | Announcement of failure to repay the interests of medium term note of the second period on 2016 in time | 2 Dec. 2019 | China money website:www.chinamoney.com.cn | Suggestive Announcement of failure to repay the interests of medium term note of the second period on 2016 | 3 Dec. 2019 | Juchao website: www.cninfo.com.cn | Announcement of bondholders’ meeting of Tunghsu Optoelectronic Technology Co. medium term note on 2016 including the first period and the second period | 17 Dec. 2019 | China money website:www.chinamoney.com.cn | Announcement of reply for resolution by medium term note including first period bondholders’ meeting | 17 Dec. 2019 | China money website:www.chinamoney.com.cn |
III. Commitments finished in implementation by the Company, shareholders, actual controller,acquirer, directors, supervisors, senior executives or other related parties in the reportingperiod and commitments unfinished in implementation at the end of the reporting period □ Applicable √Not applicable The company has no commitments completed during the report period and those without completed till lend of theperiod from actual controller, shareholders, related parties, purchaser and companies.IV. External guarantee get out of line □ Applicable √Not applicable The Company has no external guarantee get out of the line during the report periodV. Controlling shareholder and its related parties occupying non-business capital of the listed company □ Applicable √Not applicable There are no controlling shareholder and its related parties occupying non-business capital of the listed company during the reportperiod. IV. Financial Statement I. Financial statement 1、 Consolidated balance sheet Prepared by:Tunghsu Optoelectronic Technology Co., Ltd.December 31,2019 In RMB Items | December 31,2019 | December 31,2018 | Current asset: | | | Cash and bank balances | 11,580,819,578.44 | 19,807,094,397.16 | Settlement provision | | | Outgoing call loan | | | Transactional financial assets | | | Financial assets measured at fair value with variations accounted into current income account | | | Derivative financial assets | | | Notes receivable | 34,510,584.50 | 499,781,503.17 | Account receivable | 11,496,500,929.28 | 14,352,781,895.39 | Financing of receivables | 1,712,996,551.15 | | Prepayments | 8,993,206,274.68 | 5,215,414,219.51 | Insurance receivable | | | Reinsurance receivable | | | Provisions of Reinsurance contracts receivable | | | Other account receivable | 4,831,348,641.69 | 1,125,991,020.55 | Including:Interest receivable | 2,325,948.16 | 56,811,961.67 | Dividend receivable | 11,585,960.88 | | Repurchasing of financial assets | | | Inventories | 4,326,590,183.49 | 3,510,786,666.85 | Contract assets | | | Assets held for sales | 119,355,435.58 | 119,355,435.58 | Non-current asset due within 1 year | | | Other current asset | 837,951,546.82 | 809,360,778.49 | Total of current assets | 43,933,279,725.63 | 45,440,565,916.70 |
Non-current assets: | | | Loans and payment on other’s behalf disbursed | | | Debt investment | | | Available for sale of financial assets | | 243,158,605.30 | Other investment on bonds | | | Expired investment in possess | | | Long-term receivable | 306,158,872,38 | 344,430,815.68 | Long term share equity investment | 2,207,456,475.75 | 2,174,347,969.22 | Other equity instruments investment | | | Other non-current financial assets | 248,158,605.30 | | Property investment | 695,653,870.87 | 686,993,881.02 | Fixed assets | 9,075,392,171.23 | 9,634,463,323.77 | Construction in progress | 4,856,161,438.68 | 5,013,941,980.61 | Production physical assets | | | Oil & gas assets | | | Use right assets | | | Intangible assets | 1,061,801,667.12 | 1,146,949,745.14 | Development expenses | 44,748,355.95 | 37,122,235.94 | Goodwill | 1,995,588,453.44 | 2,835,672,586.90 | Long-germ expenses to be amortized | 21,707,770.53 | 21,884,204.82 | Deferred income tax asset | 430,229,031.02 | 533,094,627.68 | Other non-current asset | 4,751,984,490.29 | 4,463,496,966.82 | Total of non-current assets | 25,695,041,202.56 | 27,135,556,942.90 | Total of assets | 69,628,320,928.19 | 72,576,122,859.60 | Current liabilities | | | Short-term loans | 9,807,921,003.28 | 8,361,106,651.33 | Loan from Central Bank | | | Borrowing funds | | | Transactional financial liabilities | | | Financial liabilities measured at fair value with variations accounted into current income account | | | Derivative financial liabilities | | | Notes payable | 850,447,788.10 | 1,643,167,026.68 |
Account payable | 7,007,558,192.78 | 8,632,927,106.20 | Advance receipts | 1,652,587,387.44 | 1,402,283,662.37 | Contract Liabilities | | | Selling of repurchased financial assets | | | Deposit taking and interbank deposit | | | Entrusted trading of securities | | | Entrusted selling of securities | | | Employees’ wage payable | 206,227,756.49 | 238,146,977.17 | Tax payable | 339,813,007.03 | 817,173,127.12 | Other account payable | 3,693,138,656.67 | 2,089,603,676.60 | Including:Interest payable | 452,834,591.96 | 117,554,951.58 | Dividend payable | 66,278,190.37 | | Fees and commissions payable | | | Reinsurance fee payable | | | Liabilities held for sales | | | Non-current liability due within 1 year | 7,841,514,464.78 | 3,697,392,864.91 | Other current liability | 454,404,004.66 | 315,193,128.73 | Total of current liability | 31,853,612,261.23 | 27,196,994,221.11 | Non-current liabilities: | | | Reserve fund for insurance contracts | | | Long-term loan | 3,003,722,151.74 | 2,741,589,600.00 | Bond payable | 301,145,832.60 | 5,630,818,825.32 | Including:preferred stock | | | Sustainable debt | | | Lease liability | | | Long-term payable | 1,077,918,138.44 | 2,644,309,592.95 | Long-term remuneration payable to staff | | | Expected liabilities | 124,239,165.21 | 99,765,750.04 | Deferred income | 713,023,519.35 | 676,146,399.31 | Deferred income tax liability | 54,472,480.31 | 55,192,983.97 | Other non-current liabilities | 508,000,000.00 | 108,000,000.00 | Total non-current liabilities | 5,782,521,287.65 | 11,955,823,151.59 | Total of liability | 37,636,133,548.88 | 39,152,817,372.70 |
Owners’ equity | | | Share capital | 5,730,250,118.00 | 5,730,250,118.00 | Other equity instruments | | | Including:preferred stock | | | Sustainable debt | | | Capital reserves | 21,812,136,465.66 | 21,786,233,393.78 | Less:Shares in stock | 4,422,320.00 | 4,422,320.00 | Other comprehensive income | -29,175.80 | -29,175.80 | Special reserve | 28,499,725.62 | 12,614,331.35 | Surplus reserves | 245,507,019.95 | 245,507,019.95 | Common risk provision | | | Retained profit | 3,208,181,640.38 | 4,750,977,557.86 | Total of owner’s equity belong to the parent company | 31,020,123,473.81 | 32,521,130,925.14 | Minority shareholders’ equity | 972,063,905.50 | 902,174,561.76 | Total of owners’ equity | 31,992,187,379.31 | 33,423,305,486.90 | Total of liabilities and owners’ equity | 69,628,320,928.19 | 72,576,122,859.60 |
Items | December 31,2019 | December 31, 2018 | Current asset: | | | Cash and bank balances | 4,700,601,207.82 | 9,732,302,654.23 | Transactional financial assets | | | Financial assets measured at fair value with variations accounted into current income account | | | Derivative financial assets | | | Notes receivable | | 50,000.00 | Account receivable | 236,947,979.44 | 176,563,926.23 |
Financing of receivables | | | Prepayments | 1,033,942.61 | 2,008,364.11 | Other account receivable | 11,551,051,968.51 | 6,281,675,319.27 | Including:Interest receivable | | 7,521,489.86 | Dividend receivable | 500,000,000.00 | 500,000,000.00 | Inventories | 193,714,314.48 | 269,759,580.95 | Contract assets | | | Assets held for sales | | | Non-current asset due within 1 year | | | Other current asset | 148,973.38 | 148,973.38 | Total of current assets | 16,683,498,386.24 | 16,462,508,818.17 | Non-current assets: | | | Debt investment | | | Available for sale of financial assets | | 129,500,056.00 | Other investment on bonds | | | Expired investment in possess | | | Long-term receivable | | | Long term share equity investment | 28,378,702,448.80 | 26,504,735,200.89 | Other equity instruments investment | | | Other non-current financial assets | 129,500,056.00 | | Property investment | | | Fixed assets | 145,493,375.51 | 160,867,244.63 | Construction in progress | | | Production physical assets | | | Oil & gas assets | | | Use right assets | | | Intangible assets | 8,991,679.94 | 9,339,387.26 | Development expenses | | | Goodwill | | | Long-germ expenses to be amortized | | | Deferred income tax asset | | 119,964,967.85 | Other non-current asset | 300,000,000.00 | | Total of non-current assets | 28,962,687,560.25 | 26,924,406,856.63 | Total of assets | 45,646,185,946.49 | 43,386,915,674.80 |
Current liabilities | | | Short-term loans | 6,507,370,461.11 | 4,278,000,000.00 | Transactional financial liabilities | | | Financial liabilities measured at fair value with variations accounted into current income account | | | Derivative financial liabilities | | | Notes payable | | | Account payable | 8,663,754.33 | 11,500,796.58 | Advance receipts | 842,498.78 | 1,991,498.78 | Contract Liabilities | | | Employees’ wage payable | 5,226,344.53 | 4,484,401.86 | Tax payable | 16,766,064.54 | 17,959,833.09 | Other account payable | 4,861,267,706.46 | 3,656,725,253.66 | Including:Interest payable | 426,748,970.50 | 97,197,464.99 | Dividend payable | 66,278,190.37 | | Liabilities held for sales | | | Non-current liability due within 1 year | 6,097,417,230.96 | 1,533,383,333.28 | Other current liability | | | Total of current liability | 17,497,554,060.71 | 9,504,045,117.25 | Non-current liabilities: | | | Long-term loan | 495,175,833.33 | | Bond payable | | 5,630,818,825.32 | Including:preferred stock | | | Sustainable debt | | | Lease liability | | | Long-term payable | | | Long-term remuneration payable to staff | | | Expected liabilities | 54,389,500.40 | | Deferred income | | | Deferred income tax liability | | | Other non-current liabilities | | | Total non-current liabilities | 549,565,333.73 | 5,630,818,825.32 | Total of liability | 18,047,119,394.44 | 15,134,863,942.57 | Owners’ equity | | |
Share capital | 5,730,250,118.00 | 5,730,250,118.00 | Other equity instruments | | | Including:preferred stock | | | Sustainable debt | | | Capital reserves | 21,832,453,907.50 | 21,832,453,907.50 | Less:Shares in stock | 4,422,320.00 | 4,422,320.00 | Other comprehensive income | | | Special reserve | | | Surplus reserves | 226,517,795.62 | 226,517,795.62 | Retained profit | -185,732,949.07 | 467,252,231.11 | Total of owners’ equity | 27,599,066,552.05 | 28,252,051,732.23 | Total of liabilities and owners’ equity | 45,646,185,946.49 | 43,386,915,674.80 |
Items | 2019 | 2018 | I. Turnover | 16,693,053,104.79 | 28,211,700,021.12 | Including :Operating income | 16,693,053,104.79 | 28,211,700,021.12 | Interest income | | | Insurance fee earned | | | Fee and commission received | | | II. Total operating costs | 16,657,715,765.25 | 25,724,302,978.59 | Including :Operating costs | 13,986,404,125.31 | 23,204,078,792.38 | Interest expense | | | Fee and commission paid | | | Insurance discharge payment | | | Net claim amount paid | | | Appropriation of deposit for duty, net | | | Insurance policy dividend paid | | | Reinsurance expenses | | | Business tax and surcharge | 79,193,265.82 | 237,483,799.16 | Sales expense | 366,155,679.99 | 334,476,301.51 | Administrative expense | 651,448,841.65 | 653,479,277.58 | R & D expense | 509,485,446.56 | 572,089,634.30 |
Financial expenses | 1,065,028,405.92 | 722,695,173.66 | Including:Interest expense | 1,376,228,902.96 | 1,204,287,050.60 | Interest income | 320,733,545.74 | 506,083,846.24 | Add:Other income | 470,114,187.92 | 251,303,953.08 | Investment gain(“-”for loss) | 146,500,470.00 | 80,925,191.79 | Including:investment gains from affiliates | 3,708,506.53 | 64,366,051.65 | Financial assets measured at amortized cost cease to be recognized as income | | | Gains from currency exchange | | | Net exposure hedging income | | | Changing income of fair value | | | Credit impairment loss | -196,906,173.18 | | Impairment loss of assets | -1,223,841,304.69 | -93,480,733.09 | Assets disposal income | 3,985,207.82 | 1,515,607.51 | III. Operating profit(“-”for loss) | -764,810,272.59 | 2,727,661,061.82 | Add :Non-operating income | 11,182,008.02 | 19,063,270.76 | Less: Non-operating expenses | 8,106,397.87 | 8,892,705.00 | IV. Total profit(“-”for loss) | -761,734,662.44 | 2,737,831,627.58 | Less:Income tax expenses | 351,461,632.35 | 469,003,541.40 | V. Net profit | -1,113,196,294.79 | 2,268,828,086.18 | (I) Classification by business continuity | | | 1.Net continuing operating profit | -1,113,196,294.79 | 2,268,828,086.18 | 2.Termination of operating net profit | | | (II) Classification by ownership | | | 1.Net profit attributable to the owners of parent company | -1,141,678,409.22 | 2,163,607,505.39 | 2.Minority shareholders’ equity | 28,482,114.43 | 105,220,580.79 | VI. Net after-tax of other comprehensive income | | -42,240.07 | Net of profit of other comprehensive income attributable to owners of the parent company. | | -24,657.35 | (I)Other comprehensive income items that will not be reclassified into gains/losses in the subsequent accounting period | | |
1.Re-measurement of defined benefit plans of changes in net debt or net assets | | | 2.Other comprehensive income under the equity method investee can not be reclassified into profit or loss. | | | 3.Changes in the fair value of investments in other equity instruments | | | 4.Changes in the fair value of the company’s credit risks | | | 5.Other | | | (II)Other comprehensive income that will be reclassified into profit or loss. | | -24,657.3 | 1.Other comprehensive income under the equity method investee can be reclassified into profit or loss. | | | 2.Changes in the fair value of investments in other debt obligations | | | 3.Gains and losses from changes in fair value available for sale financial assets | | | 4.Other comprehensive income arising from the reclassification of financial assets | | | 5.Held-to-maturity investments reclassified to gains and losses of available for sale financial assets | | | 6. Allowance for credit impairments in investments in other debt obligations | | | 7. Reserve for cash flow hedges | | | 8.Translation differences in currency financial statements | | -24,657.35 | 9.Other | | | Net of profit of other comprehensive income attributable to Minority shareholders’ equity | | -17,582.72 | VII. Total comprehensive income | -1,113,196,294.79 | 2,268,785,846.11 | Total comprehensive income attributable to the owner of the parent company | -1,141,678,409.22 | 2,163,582,848.04 | Total comprehensive income attributable minority shareholders | 28,482,114.43 | 105,202,998.07 |
VIII. Earnings per share | | | (I)Basic earnings per share | -0.20 | 0.38 | (II)Diluted earnings per share | -0.20 | 0.38 |
Items | 2019 | 2018 | I. Revenue | 119,742,689.07 | 192,196,941.80 | Including :Operating costs | 103,952,061.63 | 152,993,440.70 | Business tax and surcharge | 5,954,281.34 | 6,644,502.15 | Sales expense | | | Administrative expense | 28,543,415.08 | 39,463,721.23 | R & D expense | 4,789,707.54 | 8,322,311.54 | Financial expenses | 497,605,105.19 | 379,774,437.36 | Including:Interest expenses | 859,969,734.91 | 645,866,773.53 | Interest income | 364,363,229.58 | 275,451,910.63 | Add:Other income | 515,094.34 | | Investment gain(“-”for loss) | 388,214,447.92 | 556,448,607.09 | Including: investment gains from affiliates | 5,559,747.91 | 64,362,875.25 | Financial assets measured at amortized cost cease to be recognized as income | | | Net exposure hedging income | | | Changing income of fair value | | | Credit impairment loss | 3,579.22 | | Impairment loss of assets | 241.00 | -10,403,118.18 | Assets disposal income | | -83,936.54 | II. Operating profit(“-”for loss) | -132,368,519.23 | 150,960,081.19 |
Add :Non-operating income | 488,221.31 | 1,125,858.13 | Less:Non -operating expenses | 22,406.15 | 212,985.83 | III. Total profit(“-”for loss) | -131,902,704.07 | 151,872,953.49 | Less:Income tax expenses | 119,964,967.85 | -61,858,997.38 | IV. Net profit | -251,867,671.92 | 213,731,950.87 | 1.Net continuing operating profit | -251,867,671.92 | 213,731,950.87 | 2.Termination of operating net profit | | | V. Net after-tax of other comprehensive income | | | (I)Other comprehensive income items that will not be reclassified into gains/losses in the subsequent accounting period | | | 1.Re-measurement of defined benefit plans of changes in net debt or net assets | | | 2.Other comprehensive Income under the equity method investee can not be reclassified into profit or loss. | | | 3. Changes in the fair value of investments in other equity instruments | | | 4. Changes in the fair value of the company’s credit risks | | | 5.Other | | | (II)Other comprehensive income that will be reclassified into profit or loss. | | | 1.Other comprehensive income under the equity method investee can be reclassified into profit or loss. | | | 2. Changes in the fair value of investments in other debt obligations | | | 3. Gains and losses from changes in fair value available for sale financial assets | | | 4. Other comprehensive income arising from the reclassification of financial assets | | | 5.Held-to-maturity investments reclassified to gains and losses of | | |
available for sale financial assets | | | 6. Allowance for credit impairments in investments in other debt obligations | | | 7. Reserve for cash flow hedges | | | 8. Translation differences in currency financial statements | | | 9.Other | | | VI. Total comprehensive income | -251,867,671.92 | 213,731,950.87 | VII. Earnings per share | | | (I)Basic earnings per share | | | (II)Diluted earnings per share | | |
Items | 2019 | 2018 | I.Cash flows from operating activities | | | Cash received from sales of goods or rending of services | 20,623,886,056.37 | 24,460,106,952.41 | Net increase of customer deposits and capital kept for brother company | | | Net increase of loans from central bank | | | Net increase of inter-bank loans from other financial bodies | | | Cash received against original insurance contract | | | Net cash received from reinsurance business | | | Net increase of client deposit and investment | | | Cash received from interest, commission charge and commission | | | Net increase of inter-bank fund received | | | Net increase of repurchasing business | | | Net cash received by agent in securities trading | | | Tax returned | 202,890,257.89 | 342,117,355.30 |
Other cash received from business operation | 783,106,250.58 | 1,112,750,115.02 | Sub-total of cash inflow | 21,609,882,564.84 | 25,914,974,422.73 | Cash paid for purchasing of merchandise and services | 22,226,028,969.44 | 22,506,440,909.95 | Net increase of client trade and advance | | | Net increase of savings in central bank and brother company | | | Cash paid for original contract claim | | | Net increase for Outgoing call loan | | | Cash paid for interest, processing fee and commission | | | Cash paid for policy dividend | | | Cash paid to staffs or paid for staffs | 995,272,200.41 | 1,148,904,118.69 | Taxes paid | 931,331,308.85 | 874,045,127.91 | Other cash paid for business activities | 1,560,565,605.19 | 997,332,261.66 | Sub-total of cash outflow from business activities | 25,713,198,083.89 | 25,526,722,418.21 | Net cash generated from /used in operating activities | -4,103,315,519.05 | 388,252,004.52 | II. Cash flow generated by investing | | | Cash received from investment retrieving | 132,409.88 | 2,287,107,423.40 | Cash received as investment gains | 58,433,679.33 | 14,623,990.55 | Net cash retrieved from disposal of fixed assets, intangible assets, and other long-term assets | 29,408,165.39 | 1,342,541.78 | Net cash received from disposal of subsidiaries or other operational units | 154,925,006.59 | 392,179,613.50 | Other investment-related cash received | 1,190,191,465.50 | 2,065,561,030.00 | Sub-total of cash inflow due to investment activities | 1,433,090,726.69 | 4,760,814,599.23 | Cash paid for construction of fixed assets, intangible assets and other long-term assets | 902,482,704.93 | 5,397,726,636.77 | Cash paid as investment | 455,992,730.30 | 1,100,017,546.00 | Net increase of loan against pledge | | |
Net cash received from subsidiaries and other operational units | | 392,683,239.84 | Other cash paid for investment activities | 1,167,844,251.94 | 4,514,811,164.19 | Sub-total of cash outflow due to investment activities | 2,526,319,687.17 | 11,405,238,586.80 | Net cash flow generated by investment | -1,093,228,960.48 | -6,644,423,987.57 | III.Cash flow generated by financing | | | Cash received as investment | 542,500,000.00 | 29,782,250.00 | Including: Cash received as investment from minor shareholders | | 29,000,000.00 | Cash received as loans | 8,417,532,338.36 | 9,271,938,586.70 | Other financing –related cash received | 1,052,794,962.73 | 1,625,337,955.88 | Sub-total of cash inflow from financing activities | 10,012,827,301.09 | 10,927,058,792.58 | Cash to repay debts | 9,918,818,860.18 | 10,790,796,153.46 | Cash paid as dividend, profit, or interests | 1,338,062,578.26 | 1,634,663,688.12 | Including: Dividend and profit paid by subsidiaries to minor shareholders | | 35,000,000.00 | Other cash paid for financing activities | 474,836,881.05 | 2,448,920,714.02 | Sub-total of cash outflow due to financing activities | 11,731,718,319.49 | 14,874,380,555.60 | Net cash flow generated by financing | -1,718,891,018.40 | -3,947,321,763.02 | IV. Influence of exchange rate alternation on cash and cash equivalents | 409,376.97 | 5,470,280.86 | V.Net increase of cash and cash equivalents | -6,915,026,120.96 | -10,198,023,465.21 | Add: balance of cash and cash equivalents at the beginning of term | 14,916,637,291.04 | 25,114,660,756.25 | VI..Balance of cash and cash equivalents at the end of term | 8,001,611,170.08 | 14,916,637,291.04 |
Items | 2019 | 2018 | I.Cash flows from operating activities | | | Cash received from sales of goods or | 102,274,090.42 | 72,531,777.31 |
rending of services | | | Tax returned | | | Other cash received from business operation | 2,144,645.64 | | Sub-total of cash inflow | 104,418,736.06 | 72,531,777.31 | Cash paid for purchasing of merchandise and services | 748,978.76 | 39,022,885.88 | Cash paid to staffs or paid for staffs | 20,233,829.24 | 23,420,776.83 | Taxes paid | 33,445,022.70 | 17,690,820.97 | Other cash paid for business activities | 18,250,003.54 | 12,832,370.74 | Sub-total of cash outflow from business activities | 72,677,834.24 | 92,966,854.42 | Net cash generated from /used in operating activities | 31,740,901.82 | -20,435,077.11 | II.Cash flow generated by investing | | | Cash received from investment retrieving | | 2,788,307,423.40 | Cash received as investment gains | | 678,923,452.07 | Net cash retrieved from disposal of fixed assets, intangible assets, and other long-term assets | | | Net cash received from disposal of subsidiaries or other operational units | 400,000,000.00 | | Other investment-related cash received | 16,227,894,820.10 | 18,756,644,994.40 | Sub-total of cash inflow due to investment activities | 16,627,894,820.10 | 22,223,875,869.87 | Cash paid for construction of fixed assets, intangible assets and other long-term assets | | 56,199.61 | Cash paid as investment | 2,469,000,000.00 | 4,234,000,000.00 | Net cash received from subsidiaries and other operational units | | 817,834,645.97 | Other cash paid for investment activities | 19,647,140,159.42 | 20,503,969,862.86 | Sub-total of cash outflow due to investment activities | 22,116,140,159.42 | 25,555,860,708.44 | Net cash flow generated by investment | -5,488,245,339.32 | -3,331,984,838.57 | III. Cash flow generated by financing | | |
Cash received as investment | | | Cash received as loans | 5,101,000,000.00 | 4,858,000,000.00 | Other financing –related ash received | 6,144,034,239.67 | 10,928,715,830.12 | Sub-total of cash inflow from financing activities | 11,245,034,239.67 | 15,786,715,830.12 | Cash to repay debts | 3,614,383,333.28 | 6,132,307,300.02 | Cash paid as dividend, profit, or interests | 773,780,284.26 | 1,020,777,853.83 | Other cash paid for financing activities | 6,472,610,288.16 | 6,773,267,342.75 | Sub-total of cash outflow due to financing activities | 10,860,773,905.70 | 13,926,352,496.60 | Net cash flow generated by financing | 384,260,333.97 | 1,860,363,333.52 | IV. Influence of exchange rate alternation on cash and cash equivalents | | | V.Net increase of cash and cash equivalents | -5,072,244,103.53 | -1,492,056,582.16 | Add: balance of cash and cash equivalents at the beginning of term | 9,732,302,654.23 | 11,224,359,236.39 | VI.. Balance of cash and cash equivalents at the end of term | 4,660,058,550.70 | 9,732,302,654.23 |
Items | December 31,2018 | January 1,2019 | Amount involved in the adjustment | Current asset: | | | | Cash and bank balances | 19,807,094,397.16 | 19,807,094,397.16 | | Settlement provision | | | | Outgoing call loan | | | | Transactional financial assets | | | |
Financial assets measured at fair value with variations accounted into current income account | | | | Derivative financial assets | | | | Notes receivable | 499,781,503.17 | 499,781,503.17 | | Account receivable | 14,352,781,895.39 | 14,352,781,895.39 | | Financing of receivables | | | | Prepayments | 5,215,414,219.51 | 5,215,414,219.51 | | Insurance receivable | | | | Reinsurance receivable | | | | Provisions of Reinsurance contracts receivable | | | | Other account receivable | 1,125,991,020.55 | 1,125,991,020.55 | | Including:Interest receivable | 56,811,961.67 | 56,811,961.67 | | Dividend receivable | | | | Repurchasing of financial assets | | | | Inventories | 3,510,786,666.85 | 3,510,786,666.85 | | Contract assets | | | | Assets held for sales | 119,355,435.58 | 119,355,435.58 | | Non-current asset due within 1 year | | | | Other current asset | 809,360,778.49 | 809,360,778.49 | | Total of current assets | 45,440,565,916.70 | 45,440,565,916.70 | | Non-current assets: | | | | Loans and payment on other’s behalf disbursed | | | | Debt investment | | | | Available for sale of financial assets | 243,158,605.30 | | -243,158,605.30 | Other investment on bonds | | | | Expired investment in possess | | | | Long-term receivable | 344,430,815.68 | 344,430,815.68 | | Long term share equity investment | 2,174,347,969.22 | 2,174,347,969.22 | | Other equity instruments | | | |
investment | | | | Other non-current financial assets | | 243,158,605.30 | 243,158,605.30 | Property investment | 686,993,881.02 | 686,993,881.02 | | Fixed assets | 9,634,463,323.77 | 9,634,463,323.77 | | Construction in progress | 5,013,941,980.61 | 5,013,941,980.61 | | Production physical assets | | | | Oil & gas assets | | | | Use right assets | | | | Intangible assets | 1,146,949,745.14 | 1,146,949,745.14 | | Development expenses | 37,122,235.94 | 37,122,235.94 | | Goodwill | 2,835,672,586.90 | 2,835,672,586.90 | | Long-germ expenses to be amortized | 21,884,204.82 | 21,884,204.82 | | Deferred income tax asset | 533,094,627.68 | 533,094,627.68 | | Other non-current asset | 4,463,496,966.82 | 4,463,496,966.82 | | Total of non-current assets | 27,135,556,942.90 | 27,135,556,942.90 | | Total of assets | 72,576,122,859.60 | 72,576,122,859.60 | | Current liabilities | | | | Short-term loans | 8,361,106,651.33 | 8,361,106,651.33 | | Loan from Central Bank | | | | Borrowing funds | | | | Transactional financial liabilities | | | | Financial liabilities measured at fair value with variations accounted into current income account | | | | Derivative financial liabilities | | | | Notes payable | 1,643,167,026.68 | 1,643,167,026.68 | | Account payable | 8,632,927,106.20 | 8,632,927,106.20 | | Advance receipts | 1,402,283,662.37 | 1,402,283,662.37 | | Contract liabilities | | | | Selling of repurchased financial assets | | | | Deposit taking and interbank deposit | | | |
Entrusted trading of securities | | | | Entrusted selling of securities | | | | Employees’ wage payable | 238,146,977.17 | 238,146,977.17 | | Tax payable | 817,173,127.12 | 817,173,127.12 | | Other account payable | 2,089,603,676.60 | 2,089,603,676.60 | | Including:Interest payable | 117,554,951.58 | 117,554,951.58 | | Dividend payable | | | | Fees and commissions payable | | | | Reinsurance fee payable | | | | Liabilities held for sales | | | | Non-current liability due within 1 year | 3,697,392,864.91 | 3,697,392,864.91 | | Other current liability | 315,193,128.73 | 315,193,128.73 | | Total of current liability | 27,196,994,221.11 | 27,196,994,221.11 | | Non-current liabilities: | | | | Reserve fund for insurance contracts | | | | Long-term loan | 2,741,589,600.00 | 2,741,589,600.00 | | Bond payable | 5,630,818,825.32 | 5,630,818,825.32 | | Including:preferred stock | | | | Sustainable debt | | | | Lease liability | | | | Long-term payable | 2,644,309,592.95 | 2,644,309,592.95 | | Long-term remuneration payable to staff | | | | Expected liabilities | 99,765,750.04 | 99,765,750.04 | | Deferred income | 676,146,399.31 | 676,146,399.31 | | Deferred income tax liability | 55,192,983.97 | 55,192,983.97 | | Other non-current liabilities | 108,000,000.00 | 108,000,000.00 | | Total non-current liabilities | 11,955,823,151.59 | 11,955,823,151.59 | | Total of liability | 39,152,817,372.70 | 39,152,817,372.70 | | Owners’ equity | | | | Share capital | 5,730,250,118.00 | 5,730,250,118.00 | |
Other equity instruments | | | | Including:preferred stock | | | | Sustainable debt | | | | Capital reserves | 21,786,233,393.78 | 21,786,233,393.78 | | Less:Shares in stock | 4,422,320.00 | 4,422,320.00 | | Other comprehensive income | -29,175.80 | -29,175.80 | | Special reserve | 12,614,331.35 | 12,614,331.35 | | Surplus reserves | 245,507,019.95 | 245,507,019.95 | | Common risk provision | | | | Retained profit | 4,750,977,557.86 | 4,750,977,557.86 | | Total of owner’s equity belong to the parent company | 32,521,130,925.14 | 32,521,130,925.14 | | Minority shareholders’ equity | 902,174,561.76 | 902,174,561.76 | | Total of owners’ equity | 33,423,305,486.90 | 33,423,305,486.90 | | Total of liabilities and owners’ equity | 72,576,122,859.60 | 72,576,122,859.60 | |
Items | December 31,2018 | January 1,2019 | Amount involved in the adjustment | Current asset: | | | | Cash and bank balances | 9,732,302,654.23 | 9,732,302,654.23 | | Transactional financial assets | | | | Financial assets measured at fair value with variations accounted into current | | | |
income account | | | | Derivative financial assets | | | | Notes receivable | 50,000.00 | 50,000.00 | | Account receivable | 176,563,926.23 | 176,563,926.23 | | Financing of receivables | | | | Prepayments | 2,008,364.11 | 2,008,364.11 | | Other account receivable | 6,281,675,319.27 | 6,281,675,319.27 | | Including:Interest receivable | 7,521,489.86 | 7,521,489.86 | | Dividend receivable | 500,000,000.00 | 500,000,000.00 | | Inventories | 269,759,580.95 | 269,759,580.95 | | Contract assets | | | | Assets held for sales | | | | Non-current asset due within 1 year | | | | Other current asset | 148,973.38 | 148,973.38 | | Total of current assets | 16,462,508,818.17 | 16,462,508,818.17 | | Non-current assets: | | | | Debt investment | | | | Available for sale of financial assets | 129,500,056.00 | | -129,500,056.00 | Other investment on bonds | | | | Expired investment in possess | | | | Long-term receivable | | | | Long term share equity investment | 26,504,735,200.89 | 26,504,735,200.89 | | Other equity instruments investment | | | | Other non-current financial assets | | 129,500,056.00 | 129,500,056.00 | Property investment | | | | Fixed assets | 160,867,244.63 | 160,867,244.63 | | Construction in progress | | | | Production physical assets | | | | Oil & gas assets | | | | Use right assets | | | | Intangible assets | 9,339,387.26 | 9,339,387.26 | |
Development expenses | | | | Goodwill | | | | Long-germ expenses to be amortized | | | | Deferred income tax asset | 119,964,967.85 | 119,964,967.85 | | Other non-current asset | | | | Total of non-current assets | 26,924,406,856.63 | 26,924,406,856.63 | | Total of assets | 43,386,915,674.80 | 43,386,915,674.80 | | Current liabilities | | | | Short-term loans | 4,278,000,000.00 | 4,278,000,000.00 | | Transactional financial liabilities | | | | Financial liabilities measured at fair value with variations accounted into current income account | | | | Derivative financial liabilities | | | | Notes payable | | | | Account payable | 11,500,796.58 | 11,500,796.58 | | Advance receipts | 1,991,498.78 | 1,991,498.78 | | Contract Liabilities | | | | Employees’ wage payable | 4,484,401.86 | 4,484,401.86 | | Tax payable | 17,959,833.09 | 17,959,833.09 | | Other account payable | 3,656,725,253.66 | 3,656,725,253.66 | | Including:Interest payable | 97,197,464.99 | 97,197,464.99 | | Dividend payable | | | | Liabilities held for sales | | | | Non-current liability due within 1 year | 1,533,383,333.28 | 1,533,383,333.28 | | Other current liability | | | | Total of current liability | 9,504,045,117.25 | 9,504,045,117.25 | | Non-current liabilities: | | | | Long-term loan | | | | Bond payable | 5,630,818,825.32 | 5,630,818,825.32 | | Including:preferred stock | | | | Sustainable debt | | | |
Lease liability | | | | Long-term payable | | | | Long-term remuneration payable to staff | | | | Expected liabilities | | | | Deferred income | | | | Deferred income tax liability | | | | Other non-current liabilities | | | | Total non-current liabilities | 5,630,818,825.32 | 5,630,818,825.32 | | Total of liability | 15,134,863,942.57 | 15,134,863,942.57 | | Owners’ equity | | | | Share capital | 5,730,250,118.00 | 5,730,250,118.00 | | Other equity instruments | | | | Including:preferred stock | | | | Sustainable debt | | | | Capital reserves | 21,832,453,907.50 | 21,832,453,907.50 | | Less:Shares in stock | 4,422,320.00 | 4,422,320.00 | | Other comprehensive income | | | | Special reserve | | | | Surplus reserves | 226,517,795.62 | 226,517,795.62 | | Retained profit | 467,252,231.11 | 467,252,231.11 | | Total of owners’ equity | 28,252,051,732.23 | 28,252,051,732.23 | | Total of liabilities and owners’ equity | 43,386,915,674.80 | 43,386,915,674.80 | |
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