Share’s name:
| Share’s name: | Jiangling Motors | Share’s code: | 000550 | No.: | 2021-026 |
| Jiangling B | 200550 |
Jiangling Motors Corporation, Ltd.
2021 First Quarter Report
§1 Important Note
1.1 The Board of Directors and its members, the Supervisory Board and itsmembers, and the senior executives are jointly and severally liable for thetruthfulness, accuracy and completeness of the information disclosed in theReport, and confirm that the information disclosed herein does not contain anyfalse statement, misrepresentation or major omission.
1.2 Except Director Thomas Hilditch authorized Vice Chairman Anning Chen toexercise the voting rights on his behalf, all the other Directors were present atthe Board meeting to review the 2021 First Quarter Report.
1.3 Chairman Qiu Tiangao, CFO Li Weihua and Chief of Finance Department,Ding Ni, confirm that the financial statements in this Quarter Report are truthful,accurate and complete.
§2 Brief Introduction
2.1 Main accounting data and financial indicators
Unit: RMB
| Reporting period (2021 First Quarter) | Same Period Last Year | YoY Change (%) | |
| Revenue | 8,041,295,685.00 | 4,619,180,560.00 | 74.08% |
| Profit Attributable to the Equity Holders of the Company | 277,530,327.00 | 69,462,263.00 | 299.54% |
| Net Profit Attributable to Shareholders of Listed Company After Deducting Non-Recurring Profit or Loss | 150,125,194.00 | -86,612,788.00 | 273.33% |
| Net Cash Generated From Operating Activities | -2,012,581,942.00 | -3,209,160,716.00 | 37.29% |
| Basic Earnings Per Share (RMB) | 0.32 | 0.08 | 299.54% |
| Diluted Earnings Per Share (RMB) | 0.32 | 0.08 | 299.54% |
| Weighted Average Return on Net Asset Ratio (%) | 2.49% | 0.66% | 1.83% |
| At the end of the reporting period | At the end of the previous year | Change (%) | |
| Total Assets | 27,034,411,547.00 | 28,185,185,418.00 | -4.08% |
| Shareholder’s equity Attributable to the Equity Holders of the Company | 11,264,004,336.00 | 10,986,474,009.00 | 2.53% |
2.2 Total number of shareholders and top ten shareholders at the end ofreporting period
2.2.1 Total number of shareholders and top ten shareholders
| Total shareholders | JMC had 36,712 shareholders as of March 31, 2021, including 31,122 A-share holders and 5,590 B-share holders. | ||||
| Top ten shareholders | |||||
| Shareholder Name | Shareholder Type | Shareholding Percentage (%) | Shares as of March 31, 2021 | Shares with Trading Restriction | Shares due to mortgage or frozen |
| Nanchang Jiangling Investment Co., Ltd. | State-owned legal person | 41.03 | 354,176,000 | 0 | 0 |
| Ford Motor Company | Foreign legal person | 32.00 | 276,228,394 | 0 | 0 |
| China Securities Finance Corporation Limited | State-owned legal person | 1.58 | 13,669,498 | 0 | 0 |
| Shanghai Automotive Co., Ltd. | State-owned Legal person | 1.51 | 13,019,610 | 0 | 0 |
| Hong Kong Securities Clearing | Foreign legal | 1.37 | 11,864,523 | 0 | 0 |
Company Ltd. (HKSCC)
| Company Ltd. (HKSCC) | person | |||||
| GAOLING FUND, L.P. | Foreign legal person | 0.63 | 5,453,086 | 0 | 0 | |
| INVESCO FUNDS SICAV | Foreign legal person | 0.56 | 4,841,889 | 0 | 0 | |
| National Social Security Fund - One One Eight Combinations | State-owned legal person | 0.54 | 4,643,501 | 0 | 0 | |
| RongTong Industry Prommon Securities Investment Fund | State-owned Legal person | 0.46 | 4,004,011 | 0 | 0 | |
| Jin Xing | Domestic natural person | 0.42 | 3,649,000 | 0 | 0 | |
| Top ten shareholders holding unlimited tradable shares | ||||||
| Shareholder Name | Shares without Trading Restriction | Share Type | ||||
| Nanchang Jiangling Investment Co., Ltd. | 354,176,000 | A share | ||||
| Ford Motor Company | 276,228,394 | B share | ||||
| China Securities Finance Corporation Limited | 13,669,498 | A share | ||||
| Shanghai Automotive Co., Ltd. | 13,019,610 | A share | ||||
| Hong Kong Securities Clearing Company Ltd. (HKSCC) | 11,864,523 | A share | ||||
| GAOLING FUND, L.P. | 5,453,086 | B share | ||||
| INVESCO FUNDS SICAV | 4,841,889 | B share | ||||
| National Social Security Fund - One One Eight Combinations | 4,643,501 | A share | ||||
| RongTong Industry Prommon Securities Investment Fund | 4,004,011 | A share | ||||
| Jin Xing | 3,649,000 | B share | ||||
| Notes on association among above-mentioned shareholders | None. | |||||
Stock buy-back of top ten shareholders or top ten shareholders holdingunlimited tradable shares in the reporting period
□Yes □√No
There was no Stock buy-back of top ten shareholders or top ten shareholdersholding unlimited tradable shares in the reporting period.
2.2.2 Total number of shareholders holding preferred shares and top tenshareholders holding preferred shares
□Applicable □√Not Applicable
§3 Major Events
3.1 Causes and explanations on major changes of financial indicators of thereporting period
□√Applicable □Not Applicable
In the first quarter of 2021, JMC sold 81,773 vehicles in total, increased by
81.86% compared with the same period last year, including 23,919 light buses,29,967 trucks, 18,475 pickups, 9,412 SUVs. Revenue and net profit during thereporting period were RMB 8,041 million and RMB 278 million, increased
74.08% and 299.54% respectively compared with the same period last year.
As of the end of the first quarter of 2021, compared with the end of theprevious year, financial assets held for trading decreased by RMB 251 million,down 31.17%, mainly reflecting the decrease of structured depositinvestments.
As of the end of the first quarter of 2021, compared with the end of theprevious year, financing receivables decreased by RMB 247 million, down
30.23%, mainly reflecting the discount notes receivable and make payment forgoods.
As of the end of the first quarter of 2021, compared with the end of theprevious year, advances to suppliers increased by RMB 170 million, up
37.52%, mainly reflecting the increase in prepaid supplier payments due toincreased production.
As of the end of the first quarter of 2021, compared with the end of theprevious year, development expenditures decreased by RMB 104 million,down 59.67%, mainly reflecting the development expenditures form intangibleassets.
As of the end of the first quarter of 2021, compared with the end of theprevious year, contract liabilities decreased by RMB 317 million, down
56.72%, mainly reflecting the Company pre-charges the payment for vehicles,components and service, part of which has been categorized to operatingrevenue of the period.
As of the end of the first quarter of 2021, compared with the end of theprevious year, tax payable decreased by RMB 99 million, down 45.17%,mainly reflecting the decrease of tax payable at the end of the period.
In the first quarter of 2021, compared with the same period last year, operatingrevenue increased by RMB 3,422 million, up 74.08%; operating costsincreased by RMB 2,842 million, up 72.56%; tax and surcharges increased by
RMB 93 million, up 77.82%, mainly due to the increase of sales.
In the first quarter of 2021, compared with the same period last year, sellingand distribution expenses increased by RMB 193 million, up 86.84%, mainlydue to the sales growth and the cost of bringing new models to market.
In the first quarter of 2021, compared with the same period last year, financialgains increased by RMB 43 million, up 133.16%, mainly due to the interestincome from bank deposits increased.
In the first quarter of 2021, compared with the same period last year, incometax expense increased by RMB 21 million, up 378.56%, mainly due to the profitincrease of this period.
In the first quarter of 2021, compared with the same period last year, net profitincreased by RMB 208 million, up 299.54%, mainly due to the sales growthand continued to promote cost reduction and efficiency.
In the first quarter of 2021, compared with the same period last year, net cashflows from operating activities increased by RMB 1,197 million, up 37.29%,mainly due to the increase in cash received from the sale of goods resultingfrom the increase in sales revenue.
In the first quarter of 2021, compared with the same period last year, net cashflows from investing activities increased by RMB 568 million, up 93.60%,mainly due to the reduced cash payments on current investments.
In the first quarter of 2021, compared with the same period last year, net cashflows from financing activities decreased by RMB 1,298 million, down
100.57%, mainly due to the reduction in current borrowings.
3.2 Analysis of major events, their impacts and resolutions
□Applicable □√Not Applicable
3.3 Commitments of the Company actual controlling party, the shareholders,the related parties, the acquirer, or the Company
□Applicable □√Not Applicable
3.4 Investment in financial assets
3.4.1 Securities investment
□Applicable □√Not Applicable
There was no securities investment during the reporting period.
3.4.2 Securities derivates investment
□Applicable □√Not Applicable
There was no securities derivates investment during the reporting period.
3.5 Progress of investment projects raised funds
□Applicable □√Not Applicable
3.6 Forecast on 2021 first half-year operating performance
Warning and explanations as to the situation that accumulated net profit duringthe period from year beginning to the end of next reporting period may benegative or, compared with the same period last year, may have a substantialchange
□√Applicable □Not Applicable
Preliminary results: raised trend in the same directionData type of performance forecast: interval number.
| Beginning of year to end of next reporting period | Same period last year | Change | ||||||
| Profit Attributable to the Equity Holders of the Company (RMB million) | 312 | -- | 416 | 207.77 | up | 50% | -- | 100% |
| Basic earnings per share (RMB) | 0.36 | -- | 0.48 | 0.24 | up | 50% | -- | 100% |
| Explanation on changes in performance | The main reasons are: 1. the Company's operating conditions in the first quarter of 2021 were good, and the net profit in the first quarter of 2021 was 278 million, increased 299.54% compared with the same period last year; 2. the second quarter of 2021 is expected to continue the current operating conditions and steadily increase the Company's profits; and, 3. It is expected that the increase in profits will be partially offset by higher prices for raw materials such as steel and precious metals. | |||||||
3.7 Major contracts for daily operation
□Applicable □√Not Applicable
3.8 Entrusting financial management
□Applicable □√Not Applicable
There was no entrusting financial management during the reporting period.
3.9. Outside guarantee in breach of laws & regulations
□Applicable □√Not Applicable
There was no outside guarantee in breach of laws & regulations during thereporting period.
3.10 Non-operating funding in the Company occupied by controllingshareholder and its affiliates
□Applicable □√Not Applicable
3.11 External research and media interviews with the Company during thereporting period
□Applicable □√Not Applicable
There was no external research or media interview with the Company duringthe reporting period.
§4 Financial StatementsJiangling Motors Corporation, Ltd.
1. Consolidated Balance Sheet
March 31, 2021
(All amounts in RMB yuan unless otherwise stated)
ASSETS
| ASSETS | 31 March 2021 Consolidated* | 31 December 2020 Consolidated |
| Current assets | ||
| Cash and cash equivalents | 9,063,230,194 | 11,121,955,129 |
| Financial assets held for trading | 553,285,342 | 803,892,985 |
| Accounts receivable | 3,391,397,600 | 2,999,883,212 |
| Financing receivables | 569,027,780 | 815,583,669 |
| Advances to suppliers | 622,569,394 | 452,714,683 |
| Other receivables | 187,173,723 | 128,989,573 |
| Inventories | 2,657,856,516 | 2,086,605,692 |
| Other current assets | 845,605,840 | 737,369,737 |
| Total current assets | 17,890,146,389 | 19,146,994,680 |
| Non-current assets | ||
| Long-term equity investments | 39,172,032 | 39,496,548 |
| Fixed assets | 4,925,145,280 | 5,165,956,410 |
| Construction in progress | 1,859,750,930 | 1,535,497,770 |
| Right-of-use asset | 25,762,370 | 28,405,890 |
| Intangible assets | 1,026,201,689 | 931,391,553 |
| Development expenditures | 69,970,009 | 173,473,242 |
| Deferred tax assets | 1,198,262,848 | 1,163,969,325 |
| Total non-current assets | 9,144,265,158 | 9,038,190,738 |
| TOTAL ASSETS | 27,034,411,547 | 28,185,185,418 |
| Current liabilities | ||
| Short-term borrowings | 500,000,000 | 500,000,000 |
| Derivative financial liabilities | 9,434,340 | 3,716,727 |
| Accounts payables | 8,972,392,406 | 10,026,215,877 |
| Contract liabilities | 241,739,977 | 558,526,846 |
| Employee benefits payable | 602,554,874 | 759,368,606 |
| Taxes payable | 119,779,346 | 218,445,227 |
| Other payables | 4,355,163,698 | 4,153,849,625 |
| Current portion of non-current liabilities | 11,048,195 | 10,909,163 |
| Other current liabilities | 380,022,654 | 410,899,328 |
| Total current liabilities | 15,192,135,490 | 16,641,931,399 |
| Non-current liabilities | ||
| Long-term borrowings | 2,581,896 | 2,563,666 |
| Lease liabilities | 16,911,966 | 18,998,952 |
| Long-term employee benefits payable | 61,975,473 | 62,855,000 |
| Provisions | 203,112,319 | 195,896,139 |
Deferred income
| Deferred income | 47,989,887 | 49,944,625 |
| Deferred tax liabilities | 142,413,311 | 126,995,164 |
| Other non-current liabilities | 103,286,869 | 99,526,464 |
| Total non-current liabilities | 578,271,721 | 556,780,010 |
| Total liabilities | 15,770,407,211 | 17,198,711,409 |
| Equity | ||
| Share capital | 863,214,000 | 863,214,000 |
| Capital surplus | 839,442,490 | 839,442,490 |
| Other comprehensive income | -11,759,250 | -11,759,250 |
| Surplus reserve | 431,607,000 | 431,607,000 |
| Retained earnings | 9,141,500,096 | 8,863,969,769 |
| Total equity attributable to shareholders of the Company | 11,264,004,336 | 10,986,474,009 |
| Minority interests | - | - |
| Total equity | 11,264,004,336 | 10,986,474,009 |
| TOTAL LIABILITIES AND EQUITY | 27,034,411,547 | 28,185,185,418 |
| * Unaudited financial indexes |
2. Company Balance Sheet
March 31, 2021
(All amounts in RMB yuan unless otherwise stated)
Assets
| Assets | 31 March 2021* | 31 December 2020 |
| Current assets | ||
| Cash and cash equivalents | 7,147,823,778 | 8,473,562,045 |
| Financial assets held for trading | - | 502,797,917 |
| Accounts receivable | 3,032,725,748 | 3,330,880,651 |
| Financing receivables | 543,382,091 | 29,412,448 |
| Advances to suppliers | 622,503,468 | 451,832,917 |
| Other receivables | 217,837,605 | 1,359,907,223 |
| Inventories | 2,589,839,044 | 2,020,079,494 |
| Other current assets | 717,066,487 | 678,079,950 |
| Total current assets | 14,871,178,221 | 16,846,552,645 |
| Non-current assets | ||
| Long-term equity investments | 2,807,115,525 | 1,561,496,548 |
| Fixed assets | 4,104,187,372 | 4,331,796,677 |
| Construction in progress | 1,761,747,953 | 1,429,348,858 |
| Right-of-use asset | 25,762,370 | 28,405,890 |
| Intangible assets | 734,402,301 | 637,918,837 |
| Development expenditures | 69,970,009 | 173,473,242 |
| Deferred tax assets | 356,580,162 | 370,120,915 |
| Total non-current assets | 9,859,765,692 | 8,532,560,967 |
| TOTAL ASSETS | 24,730,943,913 | 25,379,113,612 |
| Current liabilities | ||
| Short-term borrowings | 500,000,000 | 500,000,000 |
| Derivative financial liabilities | 9,434,340 | 3,716,727 |
| Accounts payables | 8,969,291,442 | 10,022,399,964 |
| Contract liabilities | 38,017,667 | 42,397,868 |
| Employee benefits payable | 548,989,314 | 687,984,808 |
| Taxes payable | 117,629,993 | 95,599,544 |
| Other payables | 1,539,562,203 | 1,495,307,482 |
| Current portion of non-current liabilities | 11,048,195 | 10,909,163 |
| Other current liabilities | 34,149,357 | 39,220,370 |
| Total current liabilities | 11,768,122,511 | 12,897,535,926 |
| Non-current liabilities | ||
| Long-term borrowings | 2,581,896 | 2,563,666 |
| Lease liabilities | 16,911,966 | 18,998,952 |
| Long-term employee benefits payable | 61,681,473 | 62,561,000 |
| Provisions | - | - |
| Deferred income | 47,989,887 | 49,944,625 |
| Deferred tax liabilities | 117,891,524 | 102,300,000 |
Other non-current liabilities
| Other non-current liabilities | 95,698,862 | 90,866,994 |
| Total non-current liabilities | 342,755,608 | 327,235,237 |
| Total liabilities | 12,110,878,119 | 13,224,771,163 |
| Equity | ||
| Share capital | 863,214,000 | 863,214,000 |
| Capital surplus | 839,442,490 | 839,442,490 |
| Other comprehensive income | -12,021,750 | -12,021,750 |
| Surplus reserve | 431,607,000 | 431,607,000 |
| Retained earnings | 10,497,824,054 | 10,032,100,709 |
| Total equity | 12,620,065,794 | 12,154,342,449 |
| TOTAL LIABILITIES AND EQUITY | 24,730,943,913 | 25,379,113,612 |
| * Unaudited financial indexes |
3. Consolidated Income Statement
2021 First Quarter(All amounts in RMB yuan unless otherwise stated)
Item
| Item | 2021 First Quarter* | 2020 First Quarter* |
| Gross revenue | 8,041,295,685 | 4,619,180,560 |
| Revenue | 8,041,295,685 | 4,619,180,560 |
| Total operating costs | 7,894,002,695 | 4,733,559,021 |
| Including: Cost of sales | 6,757,671,284 | 3,916,066,861 |
| Taxes and surcharges | 211,727,033 | 119,070,398 |
| Selling and distribution expenses | 416,115,397 | 222,716,861 |
| General and administrative expenses | 254,322,582 | 206,161,298 |
| Research and development expenses | 329,987,380 | 302,062,331 |
| Financial expenses | -75,820,981 | -32,518,728 |
| Including: Interest expenses | 4,265,054 | 7,794,430 |
| Interest income | -73,350,450 | -44,097,975 |
| Add: Other income | 151,732,079 | 164,739,694 |
| Investment income | -4,199,646 | 14,432,960 |
| Including: Share of profit of associates and joint ventures | -324,516 | -2,584,535 |
| Gains on changes in fair value | -6,325,256 | -333,618 |
| Credit impairment losses | 2,535,834 | 1,170,214 |
| Gains on disposals of assets | 99,786 | - |
| Operating profit | 291,135,787 | 65,630,789 |
| Add: Non-operating income | 1,827,088 | 1,293,229 |
| Less: Non-operating expenses | 140,661 | 2,951,304 |
| Total profit | 292,822,214 | 63,972,714 |
| Less: Income tax expenses | 15,291,887 | -5,489,549 |
| Net profit | 277,530,327 | 69,462,263 |
| Classified by continuity of operations | ||
| Net profit from continuing operations | 277,530,327 | 69,462,263 |
| Net profit from discontinued operations | - | - |
| Classified by ownership of the equity | ||
| Minority interests | - | - |
| Attributable to shareholders of the Company | 277,530,327 | 69,462,263 |
| Other comprehensive income, net of tax | ||
| Attributable to shareholders of the Company | ||
| Other comprehensive income items which will not be reclassified to profit or loss | ||
| Changes arising from remeasurement of defined benefit plan | - | - |
| Attributable to minority interests | ||
| Total comprehensive income | 277,530,327 | 69,462,263 |
| Attributable to equity owners of the Company | 277,530,327 | 69,462,263 |
| Attributable to minority interests | - | - |
| Earnings per share |
Basic earnings per share(RMB Yuan)
| Basic earnings per share(RMB Yuan) | 0.32 | 0.08 |
| Diluted earnings per share(RMB Yuan) | 0.32 | 0.08 |
*: Unaudited financial indexes
4. Company Income Statement
2021 First Quarter
(All amounts in RMB yuan unless otherwise stated)
Item
| Item | 2021 First Quarter* | 2020 First Quarter* |
| Revenue | 7,652,421,880 | 4,333,342,232 |
| Less: Cost of sales | 6,524,564,073 | 3,704,459,354 |
| Taxes and surcharges | 205,726,014 | 115,847,718 |
| Selling and distribution expenses | 72,832,378 | 50,117,476 |
| General and administrative expenses | 208,329,447 | 157,935,401 |
| Research and development expenses | 326,465,048 | 285,055,315 |
| Financial expenses | -61,149,506 | -40,519,132 |
| Including: Interest expenses | 4,265,054 | 6,283,846 |
| Interest income | -58,642,667 | -49,953,979 |
| Add: Other income | 151,648,183 | 144,689,694 |
| Investment income | -140,474 | 14,432,960 |
| Including: Share of profit of associates and joint ventures | -324,516 | -2,584,535 |
| Gains on changes in fair value | -8,515,530 | -333,618 |
| Credit impairment losses | 783,372 | -44,746 |
| Gains on disposals of assets | 8,678,279 | - |
| Operating profit | 528,108,256 | 219,190,390 |
| Add: Non-operating income | 909,929 | 1,050,062 |
| Less: Non-operating expenses | -4,700 | 2,951,304 |
| Total profit | 529,022,885 | 217,289,148 |
| Less: Income tax expenses | 63,299,540 | 13,229,964 |
| Net profit | 465,723,345 | 204,059,184 |
| Classified by continuity of operations | ||
| Net profit from continuing operations | 465,723,345 | 204,059,184 |
| Net profit from discontinued operations | - | - |
| Classified by ownership of the equity | ||
| Minority interests | - | - |
| Attributable to shareholders of the Company | 465,723,345 | 204,059,184 |
| Other comprehensive income, net of tax | ||
| Attributable to shareholders of the Company | ||
| Other comprehensive income items which will not be reclassified to profit or loss | ||
| Changes arising from remeasurement of defined benefit plan | - | - |
| Attributable to minority interests | ||
| Total comprehensive income | 465,723,345 | 204,059,184 |
| Attributable to equity owners of the Company | 465,723,345 | 204,059,184 |
| Attributable to minority interests | - | - |
| Earnings per share | ||
| Basic earnings per share(RMB Yuan) | —— | —— |
| Diluted earnings per share(RMB Yuan) | —— | —— |
*: Unaudited financial indexes
5. Consolidated Cash Flow Statement
2021 First Quarter(All amounts in RMB yuan unless otherwise stated)
Item
| Item | 2021 First Quarter* | 2020 First Quarter* |
| Cash flows from operating activities | ||
| Cash received from sales of goods or rendering of services | 8,392,373,337 | 4,817,652,267 |
| Cash received relating to other operating activities | 223,564,485 | 184,047,095 |
| Sub-total of cash inflows | 8,615,937,822 | 5,001,699,362 |
| Cash paid for goods and services | 8,510,907,261 | 6,499,939,751 |
| Cash paid to and on behalf of employees | 842,235,887 | 562,630,851 |
| Payments of taxes and surcharges | 693,474,450 | 499,921,086 |
| Cash paid relating to other operating activities | 581,902,166 | 648,368,390 |
| Sub-total of cash outflows | 10,628,519,764 | 8,210,860,078 |
| Net cash flows from operating activities | -2,012,581,942 | -3,209,160,716 |
| Cash flows from investing activities | ||
| Cash received from disposal of investments | 1,300,000,000 | 2,495,000,000 |
| Cash received from returns on investments | 6,050,621 | 17,810,966 |
| Net cash received from disposal of fixed assets, intangible assets and other long-term assets | 3,192,445 | 29,348 |
| Net cash received from disposal of subsidiaries and other business units | 108,000,000 | - |
| Cash received relating to other investing activities | 75,811,147 | 57,061,634 |
| Sub-total of cash inflows | 1,493,054,213 | 2,569,901,948 |
| Cash paid to acquire fixed assets, intangible assets and other long-term assets | 478,294,941 | 180,512,371 |
| Cash paid to acquire investments | 1,050,000,000 | 2,995,000,000 |
| Cash paid relating to other investing activities | 3,571,370 | 1,194,271 |
| Sub-total of cash outflows | 1,531,866,311 | 3,176,706,642 |
| Net cash flows from investing activities | -38,812,098 | -606,804,694 |
| Cash flows from financing activities | ||
| Cash received from borrowings | 496,538,889 | 1,300,000,000 |
| Sub-total of cash inflows | 496,538,889 | 1,300,000,000 |
| Cash repayments of borrowings | 500,000,000 | - |
| Cash payments for distribution of dividends, profits or interest expenses | 2,173,333 | 7,228,323 |
| Cash payments relating to other financing activities | 1,696,451 | 1,987,321 |
| Sub-total of cash outflows | 503,869,784 | 9,215,644 |
| Net cash flows from financing activities | -7,330,895 | 1,290,784,356 |
| Effect of foreign exchange rate changes on cash and cash equivalents | - | - |
| Net increase in cash and cash equivalents | -2,058,724,935 | -2,525,181,054 |
| Add: Cash and cash equivalents at beginning of year | 11,121,955,129 | 8,937,936,658 |
| Cash and cash equivalents at end of period | 9,063,230,194 | 6,412,755,604 |
* Unaudited financial indexes
6. Company Cash Flow Statement
2021 First Quarter(All amounts in RMB yuan unless otherwise stated)
Item
| Item | 2021 First Quarter* | 2020 First Quarter* |
| Cash flows from operating activities | ||
| Cash received from sales of goods or rendering of services | 8,254,569,351 | 4,179,929,582 |
| Cash received relating to other operating activities | 157,772,523 | 154,864,705 |
| Sub-total of cash inflows | 8,412,341,874 | 4,334,794,287 |
| Cash paid for goods and services | 8,322,341,054 | 6,315,563,976 |
| Cash paid to and on behalf of employees | 773,586,478 | 492,904,237 |
| Payments of taxes and surcharges | 468,574,873 | 370,835,212 |
| Cash paid relating to other operating activities | 323,026,060 | 443,825,017 |
| Sub-total of cash outflows | 9,887,528,465 | 7,623,128,442 |
| Net cash flows from operating activities | -1,475,186,591 | -3,288,334,155 |
| Cash flows from investing activities | ||
| Cash received from disposal of investments | 2,142,000,000 | 5,262,976,131 |
| Cash received from returns on investments | 3,894,456 | 17,810,966 |
| Net cash received from disposal of fixed assets, intangible assets and other long-term assets | 3,189,956 | 29,348 |
| Net cash received from disposal of subsidiaries and other business units | 108,000,000 | - |
| Cash received relating to other investing activities | 64,689,259 | 131,041,185 |
| Sub-total of cash inflows | 2,321,773,671 | 5,411,857,630 |
| Cash paid to acquire fixed assets, intangible assets and other long-term assets | 472,962,014 | 175,210,700 |
| Cash paid to acquire investments | 1,688,461,068 | 5,894,976,131 |
| Cash paid relating to other investing activities | 3,571,370 | 1,194,272 |
| Sub-total of cash outflows | 2,164,994,452 | 6,071,381,103 |
| Net cash flows from investing activities | 156,779,219 | -659,523,473 |
| Cash flows from financing activities | ||
| Cash received from borrowings | 496,538,889 | 1,300,000,000 |
| Sub-total of cash inflows | 496,538,889 | 1,300,000,000 |
| Cash repayments of borrowings | 500,000,000 | - |
| Cash payments for distribution of dividends, profits or interest expenses | 2,173,333 | 5,745,081 |
| Cash payments relating to other financing activities | 1,696,451 | 1,359,079 |
| Sub-total of cash outflows | 503,869,784 | 7,104,160 |
| Net cash flows from financing activities | -7,330,895 | 1,292,895,840 |
| Effect of foreign exchange rate changes on cash and cash equivalents | - | - |
| Net increase in cash and cash equivalents | -1,325,738,267 | -2,654,961,788 |
| Add: Cash and cash equivalents at beginning of year | 8,473,562,045 | 8,677,928,946 |
| Cash and cash equivalents at end of period | 7,147,823,778 | 6,022,967,158 |
*: Unaudited financial indexes