Stock Code: 000505, 200505 Stock Name: JLKG, JL-B Announcement No. 2022-043
HAINAN JINGLIANG HOLDINGS CO., LTD.
FIRST QUARTERLY REPORT 2022
Hainan Jingliang Holdings Co., Ltd. (hereinafter referred to as the “Company”) and all themembers of the Company’s Board of Directors hereby guarantee that the contents of thisReport are true, accurate and complete and free of any misrepresentations, misleadingstatements or material omissions.
Important Notes:
1. The Board of Directors, the Supervisory Committee as well as the directors, supervisors and seniormanagement of the Company hereby guarantee that the contents of this Report are true, accurate and complete andfree of any misrepresentations, misleading statements or material omissions, and collectively and individuallyaccept legal responsibility for such contents.
2. The Company’s legal representative, head for financial affairs, and head of the financial department (equivalentto financial manager) hereby guarantee that the financial statements carried in this Report are true, accurate andcomplete.
3. Indicate whether the financial statements in this Report have been audited by an independent auditor.
□Yes √ No
I Key Financial Information
(I) Key Accounting Data and Financial IndicatorsIndicate whether there is any retrospectively restated datum in the table below.
□ Yes √ No
| Q1 2022 | Q1 2021 | YoY change (%) | |
| Operating revenue (RMB) | 3,024,441,143.44 | 2,338,783,061.35 | 29.32% |
| Net profit attributable to the listed company’s shareholders (RMB) | 36,992,676.25 | 36,585,077.36 | 1.11% |
| Net profit attributable to the listed company’s shareholders before exceptional gains and losses (RMB) | 36,436,748.65 | 32,694,567.66 | 11.45% |
| Net cash generated from/used in operating activities (RMB) | -193,652,734.08 | 274,757,224.16 | -170.48% |
| Basic earnings per share (RMB/share) | 0.05 | 0.05 | 0.00% |
| Diluted earnings per share (RMB/share) | 0.05 | 0.05 | 0.00% |
| Weighted average return on equity (%) | 1.26% | 1.34% | -0.08% |
| 31 March 2022 | 31 December 2021 | Change (%) |
| Total assets (RMB) | 6,224,379,657.33 | 6,046,600,058.90 | 2.94% |
| Equity attributable to the listed company’s shareholders (RMB) | 2,952,775,710.84 | 2,915,802,291.05 | 1.27% |
(II) Exceptional Gains and Losses
√ Applicable □ Not applicable
Unit: RMB
| Item | Q1 2022 | Note |
| Government grants through profit or loss (exclusive of government grants continuously given in the Company’s ordinary course of business at fixed quotas or amounts as per the government’s policies and standards) | 393,224.15 | |
| Gain or loss on fair-value changes on held-for-trading financial assets and liabilities & income from disposal of held-for-trading financial assets and liabilities and available-for-sale financial assets (exclusive of the effective portion of hedges that arise in the Company’s ordinary course of business) | 227,979.72 | |
| Non-operating income and expense other than the above | 147,654.85 | |
| Less: Income tax effects | 192,214.68 | |
| Non-controlling interests effects (net of tax) | 20,716.44 | |
| Total | 555,927.60 | -- |
Other items that meet the definition of exceptional gain/loss:
□ Applicable √ Not applicable
No such cases in the Reporting Period.Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item listed in the ExplanatoryAnnouncement No. 1 on Information Disclosure for Companies Offering Their Securities to thePublic—Exceptional Gain/Loss Items:
□ Applicable √ Not applicable
No such cases in the Reporting Period.(III) Changes in Key Financial Statement Line Items and Explanation of why
√ Applicable □ Not applicable
1. Monetary assets increased primarily driven by the maturity of some investments in wealth managementproducts and the increased advances from customers in the current period.
2. Prepayments increased primarily driven by the increased prepayments to suppliers as a result the purchases ofoils and oilseeds at the end of the current period.
3. Construction in progress increased primarily driven by the production line automation project of subsidiary inthe current period.
4. Derivative financial liabilities increased primarily driven by the changes in the fair value of hedginginstruments in the current period.
5. Cost of sales increased primarily driven by the increased costs of raw materials as a result of market changes inthe current period.
6. Net cash generated from operating activities decreased primarily driven by the increased purchase amount ofoils and oilseeds such as soybean in the current period.
7. Net cash generated from investing activities increased primarily driven by the maturity of some investments inwealth management products in the current period.
8. Net cash generated from financing activities decreased primarily driven by higher repayments of bank loans inthe current period.II Shareholder Information(I) Numbers of Ordinary Shareholders and Preference Shareholders with Resumed Voting Rights as wellas Holdings of Top 10 Shareholders
Unit: share
| Number of ordinary shareholders at the period-end | 94,397 | Number of preferred shareholders with resumed voting rights at the period-end (if any) | 0 | |||||
| Top 10 shareholders | ||||||||
| Name of shareholder | Nature of shareholder | Shareholding percentage | Total shares held | Restricted shares held | Shares in pledge, marked or frozen | |||
| Status | Shares | |||||||
| BEIJING GRAIN GROUP CO., LTD. | State-owned legal person | 39.68% | 288,439,561 | |||||
| BEIJING STATE-OWNED CAPITAL OPERATION AND MANAGEMENT COMPANY LIMITED | State-owned legal person | 6.67% | 48,510,460 | |||||
| WANG YUECHENG | Domestic natural person | 5.66% | 41,159,887 | 41,159,887 | ||||
| LISHERYNZHANMING | Foreign natural person | 0.60% | 4,341,900 | |||||
| BEIJING XIHE ELITE INVESTMENT CO., LTD.-XIHE AI STRATEGY NO.1 PRIVATE SECURITIES INVESTMENT FUND | Other | 0.39% | 2,861,318 | |||||
| MEI JIANYING | Domestic natural person | 0.36% | 2,604,203 | |||||
| AGRICULTURAL BANK OF CHINA LIMITED-SWS MU INTELLIGENT DRIVING STOCK SECURITIES INVESTMENT FUND | Other | 0.34% | 2,472,800 | |||||
| ZHANG XIAOXIA | Domestic natural person | 0.27% | 1,949,250 | |||||
| WANG XIAOXING | Domestic natural person | 0.23% | 1,679,200 | |||||
| CITIC SECURITIES COMPANY LIMITED-TIANHONG CHINA SECURITIES FOOD AND BEVERAGE EXCHANGE TRADED | Other | 0.19% | 1,416,800 | |||||
| FUND | ||||
| Top 10 unrestricted shareholders | ||||
| Name of shareholder | Unrestricted shares held | Shares by type | ||
| Type | Shares | |||
| BEIJING GRAIN GROUP CO., LTD. | 288,439,561 | RMB-denominated ordinary stock | 288,439,561 | |
| BEIJING STATE-OWNED CAPITAL OPERATION AND MANAGEMENT COMPANY LIMITED | 48,510,460 | RMB-denominated ordinary stock | 48,510,460 | |
| LISHERYNZHANMING | 4,341,900 | Domestically listed foreign stock | 4,341,900 | |
| BEIJING XIHE ELITE INVESTMENT CO., LTD.-XIHE AI STRATEGY NO.1 PRIVATE SECURITIES INVESTMENT FUND | 2,861,318 | RMB-denominated ordinary stock | 2,861,318 | |
| MEI JIANYING | 2,604,203 | RMB-denominated ordinary stock | 2,604,203 | |
| AGRICULTURAL BANK OF CHINA LIMITED-SWS MU INTELLIGENT DRIVING STOCK SECURITIES INVESTMENT FUND | 2,472,800 | RMB-denominated ordinary stock | 2,472,800 | |
| ZHANG XIAOXIA | 1,949,250 | Domestically listed foreign stock | 1,949,250 | |
| WANG XIAOXING | 1,679,200 | RMB-denominated ordinary stock | 1,679,200 | |
| CITIC SECURITIES COMPANY LIMITED-TIANHONG CHINA SECURITIES FOOD AND BEVERAGE EXCHANGE TRADED FUND | 1,416,800 | RMB-denominated ordinary stock | 1,416,800 | |
| SHANGHAI RED WALL TAIHE FUND MANAGEMENT CO., LTD. –JINHU INCREASING INDEX PHASE IV PRIVATE INVESTMENT FUND | 1,233,600 | RMB-denominated ordinary stock | 1,233,600 | |
| Related or acting-in-concert parties among the shareholders above | ① Beijing State-Owned Capital Operation and Management Company Limited owns 100% of Beijing Grain Group Co., Ltd., and Beijing Grain Group Co., Ltd. is the controlling shareholder of the Company (a 39.68% holding). ② Wang Yuecheng is a Deputy General Manager of the Company. Apart from the aforesaid, the Company does not know whether there are any other related parties or acting-in-concert parties among the top 10 shareholders. | |||
| Top 10 shareholders engaged in securities margin trading (if any) | Shareholder Wang Xiaoxing held 1,679,200 shares in the Company through his account of collateral securities for margin trading in Soochow Securities Co., Ltd. | |||
(II) Number of Preference Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
III Other Significant Events
√ Applicable □ Not applicable
1. On 14 January 2022, the Company received the CSRC’s Notice on the First Feedback for Review ofAdministrative Permission Projects (No. 213494) issued by China Securities Regulatory Commission (hereinafter
referred to as “CSRC”). The Company actively and carefully checked the problems stipulated in the feedback andimplemented them one by one with the relevant intermediary. On 12 February 2022, the Company disclosed theReply on the Feedback for the Application of Private Placement of Stocks by Hainan Jingliang Holdings Co., Ltd.
2. In order to implement relevant work requirements of governing enterprises based on laws and further improvethe Company’s legal construction level, the Company revised the relevant contents of the Articles of Associationbased on the actual legal work and the Company’s compliance management requirements. For more details, pleaserefer to the Announcement on Revising the Articles of Association by Hainan Jingliang Holdings Co., Ltd. (No.:
2022-009) disclosed by the Company on 24 February 2022.
3. On 22 March 2022, the Company and Beijing Capital Agribusiness & Foods Group Co., Ltd. signed theSupplementary Agreement of the Conditional Subscription Agreement. Agreed by both parties, the number of thisprivate placement of stocks was changed from not exceeding 105,633,802 shares to not exceeding 92,195,422shares (inclusive) and the intended total raised fund through this private placement of stocks (including issuanceexpenses) was changed from RMB600 million to not exceeding RMB523.67 million (inclusive). The Companyrevised documents related to this private placement of stocks in accordance with the adjusted total amount offunds raised, the number of issues and other content. The private placement of stocks and related-partytransactions are still subject to the approval of CSRC.
4. In order to build and improve the Company’s long-term incentive mechanism, attract and retain outstandingtalents and fully mobilize the enthusiasm of core backbones, the Company disclosed the Restricted Stock IncentivePlan in 2022 (Draft) and its Abstract by Hainan Jingliang Holdings Co., Ltd. on 23 March 2022. The number ofincentive objects to be granted for the first time is not more than 45, and the number of restricted shares to begranted is 7.21 million shares, accounting for about 0.99% of the Company’s total share capital. The plan stillneeds to be approved by the Company’s general meeting of shareholders. For more details, please refer to relevantannouncements disclosed by the Company on 23 March 2022.IV Quarterly Financial Statements
(I) Financial Statements
1. Consolidated Balance Sheet
Prepared by Hainan Jingliang Holdings Co., Ltd.
31 March 2022
Unit: RMB
| Item | 31 March 2022 | 31 December 2021 |
| Current assets: | ||
| Monetary assets | 721,400,323.02 | 507,144,668.45 |
| Settlement reserve | ||
| Loans to other banks and financial institutions | ||
| Held-for-trading financial assets | 20,000,000.00 | 40,377,048.08 |
| Derivative financial assets | ||
| Notes receivable |
| Accounts receivable | 70,691,097.80 | 82,694,094.62 |
| Receivables financing | ||
| Prepayments | 287,678,238.76 | 87,803,762.15 |
| Premiums receivable | ||
| Reinsurance receivables | ||
| Receivable reinsurance contract reserve | ||
| Other receivables | 291,315,569.58 | 284,756,636.27 |
| Including: Interest receivable | ||
| Dividends receivable | ||
| Financial assets purchased under resale agreements | ||
| Inventories | 1,745,367,023.26 | 1,903,372,572.18 |
| Contract assets | ||
| Assets held for sale | ||
| Current portion of non-current assets | 156,139,100.00 | 156,139,100.00 |
| Other current assets | 800,188,506.14 | 820,500,621.47 |
| Total current assets | 4,092,779,858.56 | 3,882,788,503.22 |
| Non-current assets: | ||
| Loans and advances to customers | ||
| Debt investments | ||
| Other debt investments | ||
| Long-term receivables | ||
| Long-term equity investments | 235,595,387.41 | 230,799,437.53 |
| Investments in other equity instruments | 20,000,000.00 | 20,000,000.00 |
| Other non-current financial assets | ||
| Investment property | 20,911,592.77 | 20,925,683.56 |
| Fixed assets | 1,094,746,606.76 | 1,120,758,409.49 |
| Construction in progress | 15,075,786.27 | 11,220,840.10 |
| Productive living assets | ||
| Oil and gas assets | ||
| Right-of-use assets | 7,651,044.48 | 8,045,406.28 |
| Intangible assets | 336,733,564.12 | 339,970,477.87 |
| Development costs | ||
| Goodwill | 191,394,422.51 | 191,394,422.51 |
| Long-term prepaid expense | 17,487,016.89 | 17,383,818.41 |
| Deferred income tax assets | 2,262,380.82 | 13,571,063.19 |
| Other non-current assets | 189,741,996.74 | 189,741,996.74 |
| Total non-current assets | 2,131,599,798.77 | 2,163,811,555.68 |
| Total assets | 6,224,379,657.33 | 6,046,600,058.90 |
| Current liabilities: | ||
| Short-term borrowings | 1,009,268,752.12 | 1,521,669,601.35 |
| Borrowings from the central bank | ||
| Loans from other banks and financial institutions | ||
| Held-for-trading financial liabilities | ||
| Derivative financial liabilities | 115,457,898.63 | 70,305,871.37 |
| Notes payable | 487,228,166.27 | 0.00 |
| Accounts payable | 147,990,738.95 | 186,748,746.42 |
| Advances from customers | 1,376,416.48 | 996,173.41 |
| Contract liabilities | 615,316,089.75 | 520,816,995.93 |
| Financial assets sold under repurchase agreements | ||
| Customer deposits and deposits from other banks and financial institutions | ||
| Payables for acting trading of securities | ||
| Payables for underwriting of securities | ||
| Employee benefits payable | 18,724,912.42 | 42,130,650.49 |
| Taxes and levies payable | 48,218,431.20 | 104,347,852.69 |
| Other payables | 99,739,929.37 | 73,985,586.39 |
| Including: Interest payable | 21,082,795.47 | 21,082,795.47 |
| Dividends payable | 3,213,302.88 | 3,213,302.88 |
| Fees and commissions payable | ||
| Reinsurance payables | ||
| Liabilities directly associated with assets held for sale | ||
| Current portion of non-current liabilities | 1,242,398.95 | 1,582,978.69 |
| Other current liabilities | 66,507,093.43 | 22,994,553.60 |
| Total current liabilities | 2,611,070,827.57 | 2,545,579,010.34 |
| Non-current liabilities: | ||
| Insurance contract reserve | ||
| Long-term borrowings | 71,000,000.00 | 71,000,000.00 |
| Bonds payable | ||
| Including: Preference shares | ||
| Perpetual bonds | ||
| Lease liabilities | 1,756,141.24 | 1,694,702.62 |
| Long-term payables | ||
| Long-term employee benefits payable | 5,677,134.00 | 5,677,134.00 |
| Provisions | ||
| Deferred income | 64,785,936.58 | 65,244,499.48 |
| Deferred income tax liabilities | 115,371,757.01 | 45,250,919.91 |
| Other non-current liabilities | ||
| Total non-current liabilities | 258,590,968.83 | 188,867,256.01 |
| Total liabilities | 2,869,661,796.40 | 2,734,446,266.35 |
| Owners’ equity: | ||
| Share capital | 726,950,251.00 | 726,950,251.00 |
| Other equity instruments | ||
| Including: Preference shares | ||
| Perpetual bonds | ||
| Capital reserves | 1,675,918,350.95 | 1,675,918,350.95 |
| Less: Treasury stock | ||
| Other comprehensive income | -701,538.68 | -682,282.22 |
| Specific reserve | ||
| Surplus reserves | 122,122,436.98 | 122,122,436.98 |
| General reserve | ||
| Retained earnings | 428,486,210.59 | 391,493,534.34 |
| Total equity attributable to owners of the Company as the parent | 2,952,775,710.84 | 2,915,802,291.05 |
| Non-controlling interests | 401,942,150.09 | 396,351,501.50 |
| Total owners’ equity | 3,354,717,860.93 | 3,312,153,792.55 |
| Total liabilities and owners’ equity | 6,224,379,657.33 | 6,046,600,058.90 |
Legal representative: Wang Chunli Head for financial affairs: Guan YingHead of the financial department: Liu Quanli
2. Consolidated Income Statement
Unit: RMB
| Item | Q1 2022 | Q1 2021 |
| 1. Revenues | 3,024,441,143.44 | 2,338,783,061.35 |
| Including: Operating revenue | 3,024,441,143.44 | 2,338,783,061.35 |
| Interest income | ||
| Insurance premium income | ||
| Fee and commission income | ||
| 2. Costs and expenses | 3,012,615,529.48 | 2,333,218,041.73 |
| Including: Cost of sales | 2,914,408,603.03 | 2,226,013,163.78 |
| Interest expense | ||
| Fee and commission expense | ||
| Surrenders | ||
| Net insurance claims paid | ||
| Net amount provided as insurance contract reserve | ||
| Expenditure on policy dividends | ||
| Reinsurance premium expense | ||
| Taxes and levies | 6,413,981.99 | 5,955,781.15 |
| Selling expense | 37,678,412.70 | 48,411,864.19 |
| Administrative expense | 44,323,382.26 | 44,040,201.27 |
| R&D expense | 2,267,459.83 | 2,417,187.46 |
| Finance costs | 7,523,689.67 | 6,379,843.88 |
| Including: Interest expense | 8,818,262.01 | 8,671,148.55 |
| Interest income | 3,429,892.14 | 2,685,086.53 |
| Add: Other income | 2,423,270.98 | 3,012,534.83 |
| Return on investment (“-” for loss) | 5,018,549.94 | 4,619,547.66 |
| Including: Share of profit or loss of joint ventures and associates | 4,795,949.88 | 0.00 |
| Income from the derecognition of financial assets at amortized cost (“-” for loss) | ||
| Exchange gain (“-” for loss) | ||
| Net gain on exposure hedges (“-” for loss) | ||
| Gain on changes in fair value (“-” for loss) | 41,070,955.32 | 47,688,252.08 |
| Credit impairment loss (“-” for loss) | -600.00 | 0.00 |
| Asset impairment loss (“-” for loss) | ||
| Asset disposal income (“-” for loss) | 0.00 | -24,042.07 |
| 3. Operating profit (“-” for loss) | 60,337,790.20 | 60,861,312.12 |
| Add: Non-operating income | 332,367.28 | 489,618.17 |
| Less: Non-operating expense | 184,982.43 | 151,256.17 |
| 4. Gross profit (“-” for loss) | 60,485,175.05 | 61,199,674.12 |
| Less: Income tax expense | 17,901,850.21 | 19,094,319.28 |
| 5. Net profit (“-” for net loss) | 42,583,324.84 | 42,105,354.84 |
| 5.1 By operating continuity | ||
| 5.1.1 Net profit from continuing operations (“-” for net loss) | 42,583,324.84 | 42,105,354.84 |
| 5.1.2 Net profit from discontinued operations (“-” for net loss) | ||
| 5.2 By ownership | ||
| 5.2.1 Net profit attributable to owners of the Company as the parent | 36,992,676.25 | 36,585,077.36 |
| 5.2.1 Net profit attributable to non-controlling interests | 5,590,648.59 | 5,520,277.48 |
| 6. Other comprehensive income, net of tax | -19,256.46 | 60,282.38 |
| Attributable to owners of the Company as the parent | -19,256.46 | 60,282.38 |
| 6.1 Items that will not be reclassified to profit or loss | ||
| 6.1.1 Changes caused by remeasurements on defined benefit schemes | ||
| 6.1.2 Other comprehensive income that will not be reclassified to profit or loss under the equity method | ||
| 6.1.3 Changes in the fair value of investments in other equity instruments | ||
| 6.1.4 Changes in the fair value arising from changes in own credit risk | ||
| 6.1.5 Other | ||
| 6.2 Items that will be reclassified to profit or loss | -19,256.46 | 60,282.38 |
| 6.2.1 Other comprehensive income that will be reclassified to profit or loss under the equity method | ||
| 6.2.2 Changes in the fair value of other debt investments | ||
| 6.2.3 Other comprehensive income arising from the reclassification of financial assets | ||
| 6.2.4 Credit impairment allowance for other debt investments | ||
| 6.2.5 Reserve for cash flow hedges | ||
| 6.2.6 Differences arising from the translation of foreign currency-denominated financial statements | -19,256.46 | 60,282.38 |
| 6.2.7 Other | ||
| Attributable to non-controlling interests | ||
| 7. Total comprehensive income | 42,564,068.38 | 42,165,637.22 |
| Attributable to owners of the Company as the parent | 36,973,419.79 | 36,645,359.74 |
| Attributable to non-controlling interests | 5,590,648.59 | 5,520,277.48 |
| 8. Earnings per share | ||
| 8.1 Basic earnings per share | 0.05 | 0.05 |
| 8.2 Diluted earnings per share | 0.05 | 0.05 |
Where business combinations under common control occurred in the current period, the net profit achieved by the acquirees beforethe combinations was RMBXXX, with the amount for the same period of last year being RMBXXX.Legal representative: Wang Chunli Head for financial affairs: Guan YingHead of the financial department: Liu Quanli
3. Consolidated Cash Flow Statement
Unit: RMB
| Item | Q1 2022 | Q1 2021 |
| 1. Cash flows from operating activities: | ||
| Proceeds from sale of commodities and rendering of services | 3,490,873,470.89 | 2,723,222,764.35 |
| Net increase in customer deposits and deposits from other banks and financial institutions | ||
| Net increase in borrowings from the central bank | ||
| Net increase in loans from other financial institutions | ||
| Premiums received on original insurance contracts | ||
| Net proceeds from reinsurance | ||
| Net increase in deposits and investments of policy holders | ||
| Interest, fees and commissions received | ||
| Net increase in loans from other banks and financial institutions | ||
| Net increase in proceeds from repurchase transactions | ||
| Net proceeds from acting trading of securities | ||
| Tax and levy rebates | 1,867,024.15 | 2,397,841.07 |
| Cash generated from other operating activities | 469,056,216.14 | 500,143,601.78 |
| Subtotal of cash generated from operating activities | 3,961,796,711.18 | 3,225,764,207.20 |
| Payments for commodities and services | 3,086,121,372.97 | 2,302,395,084.62 |
| Net increase in loans and advances to customers | ||
| Net increase in deposits in the central bank and other banks and financial institutions | ||
| Payments for claims on original insurance contracts | ||
| Net increase in loans to other banks and financial institutions | ||
| Interest, fees and commissions paid | ||
| Policy dividends paid | ||
| Cash paid to and for employees | 98,831,197.02 | 92,696,571.12 |
| Taxes and levies paid | 75,217,482.59 | 68,496,499.66 |
| Cash used in other operating activities | 895,279,392.68 | 487,418,827.64 |
| Subtotal of cash used in operating activities | 4,155,449,445.26 | 2,951,006,983.04 |
| Net cash generated from/used in operating activities | -193,652,734.08 | 274,757,224.16 |
| 2. Cash flows from investing activities: | ||
| Proceeds from disinvestment | 788,813,406.52 | 553,344,218.29 |
| Return on investment | 287,632.12 | 4,786,581.45 |
| Net proceeds from the disposal of fixed assets, intangible assets and other long-lived assets | 85,920.00 | 85,994.78 |
| Net proceeds from the disposal of subsidiaries and other business units | ||
| Cash generated from other investing activities | ||
| Subtotal of cash generated from investing activities | 789,186,958.64 | 558,216,794.52 |
| Payments for the acquisition of fixed assets, intangible assets and other long-lived assets | 7,527,581.75 | 16,999,069.25 |
| Payments for investments | 325,100,000.00 | 510,000,000.00 |
| Net increase in pledged loans granted | ||
| Net payments for the acquisition of subsidiaries and other business units | ||
| Cash used in other investing activities | ||
| Subtotal of cash used in investing activities | 332,627,581.75 | 526,999,069.25 |
| Net cash generated from/used in investing activities | 456,559,376.89 | 31,217,725.27 |
| 3. Cash flows from financing activities: |
| Capital contributions received | ||
| Including: Capital contributions by non-controlling interests to subsidiaries | ||
| Borrowings raised | 1,703,236,552.54 | 921,639,571.50 |
| Cash generated from other financing activities | ||
| Subtotal of cash generated from financing activities | 1,703,236,552.54 | 921,639,571.50 |
| Repayment of borrowings | 1,736,260,054.46 | 908,547,195.60 |
| Interest and dividends paid | 15,417,654.47 | 16,299,326.30 |
| Including: Dividends paid by subsidiaries to non-controlling interests | ||
| Cash used in other financing activities | ||
| Subtotal of cash used in financing activities | 1,751,677,708.93 | 924,846,521.90 |
| Net cash generated from/used in financing activities | -48,441,156.39 | -3,206,950.40 |
| 4. Effect of foreign exchange rates changes on cash and cash equivalents | -41,138.79 | 38,441.99 |
| 5. Net increase in cash and cash equivalents | 214,424,347.63 | 302,806,441.02 |
| Add: Cash and cash equivalents, beginning of the period | 506,928,810.69 | 334,389,017.41 |
| 6. Cash and cash equivalents, end of the period | 721,353,158.32 | 637,195,458.43 |
(II) Independent Auditor’s ReportIndicate by tick mark whether the financial statements above have been audited by an independent auditor.
□ Yes √ No
These financial statements have not been audited by such an auditor.
Hainan Jingliang Holdings Co., Ltd.
27 April 2022