Full text of Report for the Third Quarter of 2020 of C&S Paper Co., Ltd.
C&S Paper Co., Ltd.FReport for the Third Quarter of 2020
October 2020
Full text of Report for the Third Quarter of 2020 of C&S Paper Co., Ltd.
Section I Important NoticeThe Board Directors and the Board of Supervisors of the Company and its directors,supervisors and senior management warrant that the information contained in the quarterlyreport is truthful, accurate and complete and there are no false presentations or misleadingstatements contained in, or material omissions from, this report, and that they assumeseverally and jointly legal liability.All directors attended the meeting of the Board of Directors where this quarter report wasreviewed.Declaration by Deng Yingzhong, legal representative, Dong Ye, person in charge of accounting,and Xu Xianjing, person in charge of accounting department of the Company warrant thatthe financial statement contained in this report is truthful, accurate, and complete.
Full text of Report for the Third Quarter of 2020 of C&S Paper Co., Ltd.
Section II Basic Information of the CompanyI. Main Accounting Data and Financial IndicatorsWhether the Company needs to perform retrospective adjustment or restatement of accounting datafor previous years
□ Yes √ No
| End of the current reporting period | End of last year | Changes in the current reporting period from the end of last year | ||||
| Total assets (RMB) | 7,181,257,807.39 | 6,026,271,823.64 | 19.17% | |||
| Net assets attributable to shareholders of listed companies (RMB) | 4,782,303,157.64 | 4,077,004,459.23 | 17.30% | |||
| Current reporting period | YoY changes | From the beginning of the year to the end of the reporting period | Changes from the beginning of the year to the end of the reporting period compared to the corresponding period of previous year | |||
| Operating income (RMB) | 1,939,114,329.20 | 17.70% | 5,555,315,729.00 | 15.26% | ||
| Net profit attributable to shareholders of listed companies (RMB) | 218,993,617.46 | 34.41% | 671,693,102.07 | 53.42% | ||
| Net profit attributable to shareholders of listed companies less non-recurring profit and loss (RMB) | 215,156,319.23 | 37.51% | 661,692,057.19 | 55.28% | ||
| Net cash flows from operating activities (RMB) | -93,239,029.05 | -130.60% | 411,319,559.28 | -60.44% | ||
| Basic earnings per share (RMB/share) | 0.1698 | 32.24% | 0.5207 | 51.72% | ||
| Diluted earnings per share (RMB/share) | 0.1669 | 32.04% | 0.5120 | 49.71% | ||
| Weighted average return on net assets | 4.95% | 0.38% | 15.18% | 2.91% | ||
Items and amounts of non-recurring gains and loss
√ Applicable □ Inapplicable
Full text of Report for the Third Quarter of 2020 of C&S Paper Co., Ltd.
Unit: RMB
| Item | Amount from the beginning of the year to the end of the reporting period | Remarks |
| Profit and loss from disposal of non-current assets (including the offset portion with provisions for asset impairment already set aside) | -1,607,755.26 | |
| Government grants measured at fair value through profit and loss of the current period (except for the government grants that are closely related to the Company's business and distributed in a fix quota or amount in accordance with unified national standards) | 20,615,069.52 | |
| Profit and loss from assets entrusted to others for investment or management | 3,821,920.79 | Returns on principal-protected wealth management products at maturity and reverse repo of treasury bonds |
| Other non-operating expenses excluding the above items | -11,670,027.20 | |
| Less: Influence of income tax | 1,158,162.97 | |
| Total | 10,001,044.88 | -- |
The reasons why the Company defined certain items as non-recurring profit and loss in line with theNo. 1 Explanatory Announcement on Information Disclosure of Companies Offering Securities tothe Public—Non-recurring Profit and Loss and some items listed in the above announcement asrecurring profit and loss shall be specified.
□ Applicable √ Inapplicable
The Company did not define any non-recurring profit and loss defined or listed in the No. 1Explanatory Announcement on Information Disclosure of Companies Offering Securities to thePublic—Non-recurring Profit and Loss as recurring profit and loss.
Full text of Report for the Third Quarter of 2020 of C&S Paper Co., Ltd.
II. Table of the Total Number of Shareholders and Holdings of the Top Ten Shareholders atthe End of the Reporting Period
1. Table of common shareholders and preferred shareholders with voting right resumptionand holdings of the top ten shareholders
Unit: Share
| Total number of ordinary shareholders at the end of the reporting period | 82,626 | Total number of preference shareholders with voting rights restored at the end of the reporting period (if any) | 0 | ||||||||
| Particulars of shareholding of the top ten shareholders | |||||||||||
| Name of shareholder | Nature of shareholder | Shareholding percentage (%) | Shares held | Number of shares subject to restrictions on sales | Pledged or locked-up shares | ||||||
| Share status | Number of shares | ||||||||||
| Guangdong Zhongshun Paper Group Co., Ltd. | Domestic non-state-owned legal person | 28.65% | 375,655,958 | ||||||||
| Chung Shun Co. | Foreign legal person | 20.33% | 266,504,789 | ||||||||
| Hong Kong Securities Clearing Co., Ltd. | Foreign legal person | 4.73% | 61,974,491 | ||||||||
| Yue Yong | Domestic natural person | 0.97% | 12,743,741 | 10,031,243 | |||||||
| National Social Security Fund Portfolio 406 | Others | 0.86% | 11,229,427 | ||||||||
| Investec Asset Management Co., Ltd. -- Investec Global Fund Strategy -- China Stock Fund (Exchange) | Foreign legal person | 0.79% | 10,350,126 | ||||||||
| National Social Security Fund Portfolio 101 | Others | 0.62% | 8,147,427 | ||||||||
| National Social Security Fund Portfolio 412 | Others | 0.57% | 7,508,845 | ||||||||
| Deng Yingzhong | Domestic natural person | 0.48% | 6,239,411 | 4,679,558 | |||||||
| Zhongshan Xinda Investment Management Co., Ltd. | Domestic non-state-owned legal person | 0.46% | 6,083,636 | ||||||||
| Holdings of the top ten shareholders not subject to trading moratorium | |||||||||||
| Name of shareholder | Number of shares held not subject to trading moratorium | Type of shares | |||||||||
| Type of shares | Number of shares | ||||||||||
| Guangdong Zhongshun Paper Group Co., Ltd. | 375,655,958 | RMB-denominated | 375,655,958 | ||||||||
Full text of Report for the Third Quarter of 2020 of C&S Paper Co., Ltd.
| ordinary shares | ||||
| Chung Shun Co. | 266,504,789 | RMB-denominated ordinary shares | 266,504,789 | |
| Hong Kong Securities Clearing Co., Ltd. | 61,974,491 | RMB-denominated ordinary shares | 61,974,491 | |
| National Social Security Fund Portfolio 406 | 11,229,427 | RMB-denominated ordinary shares | 11,229,427 | |
| Investec Asset Management Co., Ltd. -- Investec Global Fund Strategy -- China Stock Fund (Exchange) | 10,350,126 | RMB-denominated ordinary shares | 10,350,126 | |
| National Social Security Fund Portfolio 101 | 8,147,427 | RMB-denominated ordinary shares | 8,147,427 | |
| National Social Security Fund Portfolio 412 | 7,508,845 | RMB-denominated ordinary shares | 7,508,845 | |
| Zhongshan Xinda Investment Management Co., Ltd. | 6,083,636 | RMB-denominated ordinary shares | 6,083,636 | |
| China Merchants Bank Co., Ltd.- Penghua Emerging Industry Hybrid Securities Investment Fund | 6,021,640 | RMB-denominated ordinary shares | 6,021,640 | |
| Li Hong | 5,996,900 | RMB-denominated ordinary shares | 5,996,900 | |
| Whether the above-mentioned shareholders have a related party relationship or are persons acting in concert | 1. Among the top ten shareholders mentioned above, Guangdong Zhongshun Paper Group Co., Ltd. and Chung Shun Co. are the enterprises controlled by Deng Yingzhong, Deng Guanbiao and Deng Guanjie. That is, Guangdong Zhongshun Paper Group Co., Ltd. and Chung Shun Co. are related parties. 2. The Company does not figure out whether there is a related party relationship between other shareholders, and whether there is a person acting in concert as stipulated in the Administrative Measures for the Disclosure of Information on Changes in Shareholders' Shareholding of Listed Companies. | |||
| Description of top ten shareholders engaging in margin trading and short-selling (if any) | None | |||
Whether the top ten ordinary shareholders and the top ten shareholders without restrictions on saleconducted the agreed repurchase transaction during the reporting period
□ Yes √ No
The Company's top ten ordinary shareholders and top ten ordinary shareholders without restrictionson sale did not conduct agreed repurchase transactions during the reporting period.
2. Table of the total number of preferred shareholders and holdings of the top ten preferredshareholders
□ Applicable √ Inapplicable
Full text of Report for the Third Quarter of 2020 of C&S Paper Co., Ltd.
Section III Important EventsI. Changes in the Main Financial Data and Financial Indicators during the Reporting Periodand Reasons for Such Changes
√ Applicable □ Inapplicable
i. Balance sheetMonetary funds: Monetary funds rose by RMB339,648,471.38 or 48.26% at the end of the currentreporting period from the end of 2019, mainly owing to the increase in sales revenue in the currentreporting period.Notes receivable: Notes receivable rose by RMB1,917,030.80 or 634.98% at the end of the currentreporting period from the end of 2019, mainly owing to the increase in the banker's acceptance ofcustomers in the current reporting period.Prepayments: Prepayments rose by RMB7,093,218.34 or 47.68% at the end of the current reportingperiod from the end of 2019, mainly owing to the increase in material prepayments in the currentreporting period.Other receivables: Other receivables rose by RMB6,285,547.30 or 76.28% at the end of the currentreporting period from the end of 2019, mainly owing to the increase in temporary payments in thecurrent reporting period.Inventory: Inventory rose by RMB772,068,592.79 or 78.27% at the end of the current reportingperiod from the end of 2019, mainly owing to the increase in raw material inventory in the currentreporting period.Other current assets: Other current assets decreased by RMB96,556,408.45 or 58.32% at the end ofthe current reporting period from the end of 2019, mainly owing to the decrease inprincipal-protected wealth management products in the current reporting period.Deferred income tax assets: Deferred income tax assets rose by RMB26,637,623.38 or 33.16% atthe end of the current reporting period from the end of 2019, mainly owing to the increase in equityincentive.Other non-current assets: Other non-current assets rose by RMB77,297,877.42 or 1225.78% at theend of the current reporting period from the end of 2019, mainly owing to the increase in prepaidaccounts of engineering equipment.Short-term borrowings: Short-term borrowings rose by RMB263,596,405.33 or 1790.55% at theend of the current reporting period from the end of 2019, mainly owing to the increase in short-termborrowings from banks in the current reporting period.Payments received in advance: Payments received in advance decreased by RMB142,476,562.31 or
100.00% at the end of the current reporting period from the end of 2019, mainly owing to changesin the corporate accounting policies and the listing of advances on sales in the contractual liabilityitems in the current reporting report.
Full text of Report for the Third Quarter of 2020 of C&S Paper Co., Ltd.
Contract liabilities: Contract liabilities rose by RMB120,306,704.46 or 100.00% at the end of thecurrent reporting period from the end of 2019, mainly owing to changes in the corporate accountingpolicies and the listing of advances on sales in the contractual liability items in the current reportingperiod.Non-current liabilities due within one year: Non-current liabilities due within one year decreased byRMB32,400,000.00 or 100.00% at the end of the current reporting period from the end of 2019,mainly owing to the repayment of long-term borrowings to be overdue within one year in thecurrent reporting period.Long-term loans: Long-term loans decreased by RMB22,500,000.00 or 100.00% at the end of thecurrent reporting period from the end of 2019, mainly owing to the early repayment of long-termborrowings in the current reporting period.ii. Income statementTax and surcharges: Tax and surcharges rose by RMB10,029,579.00 or 35.93% from the beginningof the year to the end of the reporting period from the same period last year, mainly owing to theincrease in payment of value-added tax in the current reporting period.Selling expenses: Selling expenses rose by RMB397,337,611.49 or 42.05% from the beginning ofthe year to the end of the reporting period from the same period last year, mainly because: First, thesales revenue increased; second, the Company kept raising its market input, exerted great efforts forpromotion, and expanded the sales network.Administrative expense: Administrative expense was up by RMB77,984,538.16 or 37.87% from thebeginning of the year to the end of the reporting period from the same period last year, mainly dueto the increase in expenses incurred from share-based payment, payroll, and depreciation andamortization expenses.Finance expenses: Finance expenses rose by RMB36,838,911.11 or 143.01% from the beginning ofthe year to the end of the reporting period from the same period last year, mainly owing to thedecrease in bank interest expenses and increase in exchange gain in the current reporting period.Other income: Other income rose by RMB6,331,963.96 or 50.80% from the beginning of the yearto the end of the reporting period from a year earlier, mainly owing to the increase in thegovernment's subsidies in the current reporting period.Return on investment: Return on investment rose by RMB3,749,542.38 or 5180.47% from thebeginning of the year to the end of the reporting period from the same period last year, mainlyowing to the increase in the wealth management income in the current reporting period.Credit impairment losses: Credit impairment losses rose by RMB2,339,093.17 or 170.07% from thebeginning of the year to the end of the reporting period from the same period last year, mainlyowing to the increase in the allowance for impairment losses on receivables in the current reportingperiod.Asset impairment losses: Asset impairment losses decreased by RMB1,795,033.61 or 65.91% from
Full text of Report for the Third Quarter of 2020 of C&S Paper Co., Ltd.
the beginning of the year to the end of the reporting period from the same period last year, mainlyowing to the decrease in the allowance for impairment losses on fixed assets in the current reportingperiod.Return on disposal of assets: Return on disposal of assets decreased by RMB404,016.30 or 33.56%from the beginning of the year to the end of the reporting period from a year earlier, mainly owingto the increase in the losses of fixed asset disposal in the current reporting period.Non-operating expenditure: Non-operating expenditure rose by RMB12,568,318.24 or 728.98%from the beginning of the year to the end of the reporting period from a year earlier, mainly owingto the increase in the donations for combating the pandemic in the current reporting period.Income tax expense: Income tax expense rose by RMB39,910,241.25 or 40.91% from the beginningof the year to the end of the reporting period from a year earlier, mainly owing to the increase intotal profit in the current reporting period.iii. Items in the cash flow statementNet cash flows from operating activities: Net cash flows from operating activities declined byRMB628,339,897.77 or 60.44% from the beginning of the year to the end of the reporting periodfrom a year earlier, primarily attributable to increased payment for materials and taxes.Net cash flows from investing activities: Net cash flows from investing activities rose byRMB339,174,392.39 or 65.12% from the beginning of the year to the end of the reporting periodfrom the same period last year, mainly owing to the increase in the wealth management principalreceived and decrease in the engineering equipment payments in the current reporting period.Net cash flows from financing activities: Net cash flows from financing activities rose byRMB371,646,749.55 or 134.58% from the beginning of the year to the end of the reporting periodfrom the same period last year, mainly owing to the increased payment for loan proceeds receivedand decreased repayment for loans in the current reporting period.II. An Analysis of the Progress and Impact of Important Issues and Solutions
√ Applicable □ Inapplicable
1. The unlocking/exercising/deregistration matters of Tranche 1 restricted stocks and stock optionsfirstly granted by the Company's 2018 Stock Option and Restricted Stock Incentive Plan are asfollows:
The trade restriction imposed on Tranche 1 restricted stocks firstly granted will be removed on June8, 2020, and a total of 533 incentive recipients will be unlocked this time, with 5,593,428 restrictedstocks unlocked, accounting for 0.43% of the Company's total share capital.The Tranche 1 stock options firstly granted will be exercised on June 10, 2020, and the autonomousexercise model will be adopted this time. The number of incentive recipients in conformity with theexercise conditions reached 2,522 and the number of stock options that have met exerciseconditions was 3,431,505, with an exercise price of RMB8.572 per share.
Full text of Report for the Third Quarter of 2020 of C&S Paper Co., Ltd.
As at June 15, 2020, the Company had completed the deregistration procedures for a total of2,110,545 stock options with 1,594 incentive recipients but without exercise involved in the firstexercising period of partial stock options firstly granted.As at September 7, 2020, the Company had completed the repurchase and deregistration proceduresfor a total of 802,722 unlocked restricted stocks granted to 241 incentive recipients involved in thefirst unlocking period of partial restricted stocks firstly granted.
2. On June 22, 2020, the Company's Board of Directors approved the matters concerning theappointment of Mr. Dai Zhenji as Joint General Manager and the Board of Directors' election of Mr.Deng Guanjie as Vice Chairman. The tenure of the aforesaid persons starts from the date ofdeliberation and approval by the Board of Directors and ends at the expiration of the tenure of thefourth Board of Directors.
3. Matters concerning the successive engagement of the accounting firm: In order to ensure theeffectiveness of financial audit, the Company has renewed the engagement of MAZARS (specialgeneral partnership) as the audit institution for 2020.
4. Matters concerning the adjustment of the annual salary of Joint General Manager: The Companyhas adjusted the pre-tax annual salary of Joint General Manager Mr. Dai Zhenji to No more thanRMB10 million in order to better realize the Company's strategic development objectives and attractmore talents and to tap the key role of the joint general manager position.
5. Completion of industrial and commercial registration amendment for subsidiaries: The Companyhas added "food wholesale and sales" to the operation scope of its three subsidiaries, namelyZhongshan Zhongshun Commercial Trade Co., Ltd., C&S (Yunfu) Paper Co., Ltd., and JiangmenZhongshun Paper Co., Ltd., and completed the procedures for industrial and commercial registrationamendment.
| Description of important matters | Date of disclosure | Inquiry and index of temporary report disclosure websites |
| The unlocking/exercising/deregistration matters of Tranche 1 restricted stocks and stock options firstly granted by the Company's 2018 Stock Option and Restricted Stock Incentive Plan | June 4, 2020 | Announcement on Lifting the Sales Restriction in the First Release Period Firstly Granted by 2018 Stock Option and Restricted Stock Incentive Plan (Announcement Number: 2020-49) disclosed in the China Securities Journal, Shanghai Securities News, Securities Times, Securities Daily as well as Cninf. |
| June 8, 2020 | Announcement on the Adoption of the Autonomous Exercise Mode in the First Exercising Period of the Stock Option Firstly Granted by 2018 Stock Option and Restricted Stock Incentive Plan (Announcement Number: 2020-50) disclosed in the China Securities Journal, Shanghai Securities News, Securities Times, Securities Daily as well as Cninf. | |
| June 16, 2020 | Announcement on the Accomplishment of the |
Full text of Report for the Third Quarter of 2020 of C&S Paper Co., Ltd.
| Deregistration of Partial Stock Option Firstly Granted by 2018 Stock Option and Restricted Stock Incentive Plan (Announcement Number: 2020-52) disclosed in the China Securities Journal, Shanghai Securities News, Securities Times, Securities Daily as well as Cninf. | ||
| September 8, 2020 | Announcement on the Completion of the Repurchase and Deregistration of Partial Restricted Stock Firstly Granted by 2018 Stock Option and Restricted Stock Incentive Plan (Announcement Number: 2020-69) disclosed in the China Securities Journal, Shanghai Securities News, Securities Times, Securities Daily as well as Cninf. | |
| The Company's appointment of Mr. Dai Zhenji as Joint General Manager and the Board of Directors' election of Mr. Deng Guanjie as Vice Chairman | June 23, 2020 | Announcement on Resolutions of the 25th Meeting of the Fourth Board of Directors (Announcement Number: 2020-55), Announcement on Electing Vice Chairman of the Fourth Board of Directors (Announcement Number: 2020-56), and Announcement on Appointing Joint General Manager (Announcement Number: 2020-57) disclosed in the China Securities Journal, Shanghai Securities News, Securities Times, Securities Daily as well as Cninf. |
| Matters concerning the successive engagement of the accounting firm | August 7, 2020 | Announcement on Resolutions of the 26th Meeting of the Fourth Board of Directors (Announcement Number: 2020-60) and Announcement on Successive Engagement of the Accounting Firm (Announcement Number: 2020-63) disclosed in the China Securities Journal, Shanghai Securities News, Securities Times, Securities Daily as well as Cninf. |
| Matters concerning the adjustment of the annual salary of Joint General Manager | August 26, 2020 | Announcement on Resolutions of the 27th Meeting of the Fourth Board of Directors (Announcement Number: 2020-66) and Announcement on Adjusting the Annual Salary of Joint General Manager (Announcement Number: 2020-67) disclosed in the China Securities Journal, Shanghai Securities News, Securities Times, Securities Daily as well as Cninf. |
| Completion of industrial and commercial registration amendment for subsidiaries | September 16, 2020 | Announcement on the Completion of Industrial and Commercial Registration Amendment for Subsidiaries (Announcement Number: 2020-71) disclosed in the China Securities Journal, Shanghai Securities News, Securities Times, Securities Daily as well as Cninf. |
Implementation of share repurchase
Full text of Report for the Third Quarter of 2020 of C&S Paper Co., Ltd.
□ Applicable √ Inapplicable
Implementation of share repurchase by centralized bidding
□ Applicable √ Inapplicable
III. Commitments not Fulfilled by the De Facto Controller, Shareholders, Related parties,and Acquirers of the Company as at the End of the Reporting Period
□ Applicable √ Inapplicable
During the reporting period of the Company, there are not commitments not fulfilled by the de factocontroller, shareholders, related parties, and acquirers of the Company as at the end of the reportingperiod.IV. Financial Asset Investment
1. Security investment
□ Applicable √ Inapplicable
The Company did not invest in securities during the reporting period.
2. Derivative investment
□ Applicable √ Inapplicable
The Company did not invest in derivatives during the reporting period.V. Progress of Investment Projects of the Raised Funds
□ Applicable √ Inapplicable
VI. Prediction of Operating Results of 2020Warning and explanation of the predication that the accumulated net profit from the beginning ofthe year to the end of the next reporting period may be negative or there will be large changescompared to the corresponding period of previous year
□ Applicable √ Inapplicable
VII. Major Routine Operation Contracts
□ Applicable √ Inapplicable
VIII. Entrusted WM
√ Applicable □ Inapplicable
Unit: RMB10,000
| Specific types | Sources of entrusted WM funds | Incurred amount of entrusted WM | Undue balance | The amount overdue but not recovered |
| Banking WM | Self-owned fund | 21,320 | 2,000 | 0 |
Full text of Report for the Third Quarter of 2020 of C&S Paper Co., Ltd.
| product | ||||
| Total | 21,320 | 2,000 | 0 | |
Specific situations of high-risk entrusted WM with individually significant amounts or low safety,poor liquidity and no principal guarantee
□ Applicable √ Inapplicable
Entrusted WM is expected to fail to recover the principal or there are other circumstances that maylead to impairment
□ Applicable √ Inapplicable
IX. External guarantee in violation of prescribed procedures
□ Applicable √ Inapplicable
During the reporting period, there was no external guarantee in violation of prescribed procedures.X. Misappropriation of Funds for Non-operating Purposes by Controlling Shareholders andRelated Parties
□ Applicable √ Inapplicable
During the reporting period, there was no misappropriation of funds for non-operating purposes bycontrolling shareholders and related parties.XI. Registration Table for Surveys, Communication, Interviews and Other Activities duringthe Reporting Period
□ Applicable √ Inapplicable
No surveys, communication, interviews or other activities took place during the Company'sreporting period.
Section IV Financial Statements
I. Financial Statements
1. Consolidated balance sheet
Prepared by: C&S Paper Co., Ltd.
September 30, 2020
Unit: RMB
| Item | September 30, 2020 | December 31, 2019 |
| Current assets: | ||
| Monetary funds | 1,043,395,095.80 | 703,746,624.42 |
| Settlement reserve | ||
| Lending to banks and other financial institutions | ||
| Tradable financial assets | ||
| Derivative financial assets | ||
| Notes receivable | 2,218,935.12 | 301,904.32 |
| Accounts receivable | 879,165,285.78 | 807,772,897.68 |
| Accounts receivable financing | ||
| Prepayments | 21,970,975.50 | 14,877,757.16 |
| Premium receivable | ||
| Reinsurance payables | ||
| Reinsurance contract reserves receivable | ||
| Other receivables | 14,525,965.29 | 8,240,417.99 |
| Including: Interest receivable | ||
| Dividends receivable | ||
| Financial assets held under resale agreements | ||
| Inventory | 1,758,474,281.96 | 986,405,689.17 |
| Contract assets | ||
| Assets held for sale | 57,073,059.69 | 57,073,059.69 |
| Non-current assets due within one year | ||
| Other current assets | 69,011,397.33 | 165,567,805.78 |
| Total current assets | 3,845,834,996.47 | 2,743,986,156.21 |
| Non-current assets: | ||
| Loans and advances to customers | ||
| Credit right investments | ||
| Other credit right investments | ||
| Long-term receivable | ||
| Long-term equity investment | ||
| Investment in other equity instruments |
| Other non-current assets | ||
| Investment property | 34,934,587.05 | 36,039,381.30 |
| Property and equipment | 2,854,852,775.42 | 2,921,392,106.87 |
| Construction work in progress | 67,695,444.74 | 55,734,236.91 |
| Productive biological assets | ||
| Oil & gas assets | ||
| Right-of-use assets | ||
| Intangible assets | 170,041,824.59 | 168,731,781.83 |
| Development expenses | ||
| Goodwill | 64,654.15 | 64,654.15 |
| Long-term deferred expenses | 17,260,915.04 | 13,686,397.24 |
| Deferred income tax assets | 106,968,703.55 | 80,331,080.17 |
| Other non-current assets | 83,603,906.38 | 6,306,028.96 |
| Total non-current assets | 3,335,422,810.92 | 3,282,285,667.43 |
| Total assets | 7,181,257,807.39 | 6,026,271,823.64 |
| Current liabilities: | ||
| Short-term loans | 278,317,897.71 | 14,721,492.38 |
| Borrowings from PBC | ||
| Placements from banks and other financial institutions | ||
| Tradable financial liabilities | ||
| Derivative financial liabilities | ||
| Notes payable | 206,282,951.62 | 202,653,860.31 |
| Accounts payable | 667,652,878.97 | 578,212,781.22 |
| Payments received in advance | 142,476,562.31 | |
| Contract liabilities | 120,306,704.46 | |
| Proceeds from financial assets sold under repo | ||
| Customer bank deposits and due to banks and other financial institutions | ||
| Funds from securities trading agency | ||
| Funds from securities underwriting agency | ||
| Employee remuneration payable | 121,016,924.02 | 106,413,600.27 |
| Tax and fees payable | 109,197,013.81 | 101,670,618.11 |
| Other payables | 757,123,891.53 | 635,834,511.05 |
| Including: Interests payable | 41,625.00 | 173,259.89 |
| Dividends payable | 1,510,753.80 | 452,536.50 |
| Transaction fee and commission receivable | ||
| Reinsurance payable | ||
| Liabilities held for sale | ||
| Non-current liabilities due within one year | 32,400,000.00 |
| Other current liabilities | ||
| Total current liabilities | 2,259,898,262.12 | 1,814,383,425.65 |
| Non-current liabilities: | ||
| Insurance contract reserves | ||
| Long-term Loans | 22,500,000.00 | |
| Bonds payable | ||
| Including: Preference shares | ||
| Perpetual bonds | ||
| Lease liabilities | ||
| Long-term payable | ||
| Long-term employee remuneration payable | ||
| Provision | ||
| Deferred income | 102,114,783.84 | 82,367,831.33 |
| Deferred income tax liabilities | 36,941,603.79 | 30,016,107.43 |
| Other non-current liabilities | ||
| Total non-current liabilities | 139,056,387.63 | 134,883,938.76 |
| Total liabilities | 2,398,954,649.75 | 1,949,267,364.41 |
| Owner's equity: | ||
| Share capital | 1,311,214,041.00 | 1,308,891,273.00 |
| Other equity instruments | ||
| Including: Preference shares | ||
| Perpetual bonds | ||
| Capital reserve | 888,887,406.03 | 760,731,416.57 |
| Less: Treasury shares | 103,719,823.96 | 104,792,649.00 |
| Other comprehensive income | ||
| Special reserves | ||
| Surplus reserves | 53,205,582.86 | 53,205,582.86 |
| General reserves | ||
| Retained earnings | 2,632,715,951.71 | 2,058,968,835.80 |
| Total equity attributable to the owners of the parent company | 4,782,303,157.64 | 4,077,004,459.23 |
| Equities of minority shareholders | ||
| Total owner's equity | 4,782,303,157.64 | 4,077,004,459.23 |
| Total liabilities and owners' equities | 7,181,257,807.39 | 6,026,271,823.64 |
Legal representative: Deng Yingzhong Person in charge of accounting: Dong Ye Person in charge ofaccounting department: Xu Xianjing
2. The parent company's balance sheet
Unit: RMB
| Item | September 30, 2020 | December 31, 2019 |
| Current assets: | ||
| Monetary funds | 167,055,395.58 | 156,202,659.45 |
| Tradable financial assets | ||
| Derivative financial assets | ||
| Notes receivable | ||
| Accounts receivable | 121,931,039.08 | 127,203,426.87 |
| Accounts receivable financing | ||
| Prepayments | 5,908,085.66 | 2,565,716.66 |
| Other receivables | 169,057,784.47 | 637,511,752.54 |
| Including: Interest receivable | ||
| Dividends receivable | ||
| Inventory | 139,842,298.02 | 84,567,041.98 |
| Contract assets | ||
| Assets held for sale | ||
| Non-current assets due within one year | ||
| Other current assets | 21,760,326.80 | 129,377,576.74 |
| Total current assets | 625,554,929.61 | 1,137,428,174.24 |
| Non-current assets: | ||
| Credit right investments | ||
| Other credit right investments | ||
| Long-term receivable | ||
| Long-term equity investment | 1,929,830,085.40 | 1,231,245,128.96 |
| Investment in other equity instruments | ||
| Other non-current assets | ||
| Investment property | 18,134,012.38 | 18,745,192.09 |
| Property and equipment | 261,759,770.27 | 222,724,273.70 |
| Construction work in progress | 234,112.03 | 35,260,100.44 |
| Productive biological assets | ||
| Oil & gas assets | ||
| Right-of-use assets | ||
| Intangible assets | 25,171,947.25 | 21,259,498.66 |
| Development expenses | ||
| Goodwill | ||
| Long-term deferred expenses | ||
| Deferred income tax assets | 45,589,834.53 | 18,366,334.29 |
| Other non-current assets | 2,869,068.05 | 4,521,074.21 |
| Total non-current assets | 2,283,588,829.91 | 1,552,121,602.35 |
| Total assets | 2,909,143,759.52 | 2,689,549,776.59 |
| Current liabilities: | ||
| Short-term loans |
| Tradable financial liabilities | ||
| Derivative financial liabilities | ||
| Notes payable | ||
| Accounts payable | 444,489,792.93 | 325,506,510.90 |
| Payments received in advance | 28,227,454.47 | |
| Contract liabilities | 11,276,607.15 | |
| Employee remuneration payable | 42,686,707.01 | 24,280,403.99 |
| Tax and fees payable | 3,418,432.07 | 3,225,793.88 |
| Other payables | 139,732,474.33 | 167,279,884.09 |
| Including: Interests payable | ||
| Dividends payable | 1,510,753.80 | 452,536.50 |
| Liabilities held for sale | ||
| Non-current liabilities due within one year | ||
| Other current liabilities | ||
| Total current liabilities | 641,604,013.49 | 548,520,047.33 |
| Non-current liabilities: | ||
| Long-term Loans | ||
| Bonds payable | ||
| Including: Preference shares | ||
| Perpetual bonds | ||
| Lease liabilities | ||
| Long-term payable | ||
| Long-term employee remuneration payable | ||
| Provision | ||
| Deferred income | 6,157,305.11 | 7,062,818.69 |
| Deferred income tax liabilities | 6,943,138.86 | 5,575,323.82 |
| Other non-current liabilities | ||
| Total non-current liabilities | 13,100,443.97 | 12,638,142.51 |
| Total liabilities | 654,704,457.46 | 561,158,189.84 |
| Owner's equity: | ||
| Share capital | 1,311,214,041.00 | 1,308,891,273.00 |
| Other equity instruments | ||
| Including: Preference shares | ||
| Perpetual bonds | ||
| Capital reserve | 811,825,697.14 | 690,241,724.38 |
| Less: Treasury shares | 103,719,823.96 | 104,792,649.00 |
| Other comprehensive income | ||
| Special reserves | ||
| Surplus reserves | 53,084,248.58 | 53,084,248.58 |
| Retained earnings | 182,035,139.30 | 180,966,989.79 |
| Total owner's equity | 2,254,439,302.06 | 2,128,391,586.75 |
| Total liabilities and owners' equities | 2,909,143,759.52 | 2,689,549,776.59 |
3. Consolidated income statement in the current reporting period
Unit: RMB
| Item | Incurred in the current period | Incurred in the prior period |
| I. Total Operating Income | 1,939,114,329.20 | 1,647,490,771.94 |
| Including: Operating income | 1,939,114,329.20 | 1,647,490,771.94 |
| Interest Income | ||
| Gross earned premiums | ||
| Service charge and commission income | ||
| II. Total Operating Cost | 1,673,481,024.70 | 1,457,525,100.43 |
| Including: Operating costs | 1,033,535,713.24 | 965,884,449.46 |
| Interest expenses | ||
| Service charge and commission expenses | ||
| Surrender value | ||
| Net compensation expenses | ||
| Net appropriation of insurance reserve | ||
| Policy dividends expenses | ||
| Reinsurance costs | ||
| Tax and surcharges | 11,022,918.15 | 10,131,456.74 |
| Selling expenses | 494,077,231.08 | 337,041,420.70 |
| Administrative expense | 98,189,121.46 | 79,118,787.09 |
| R&D expenses | 46,713,744.12 | 54,414,204.32 |
| Finance expenses | -10,057,703.35 | 10,934,782.12 |
| Including: Interest fees | 930,857.37 | 2,636,437.90 |
| Interest Income | 1,895,378.06 | 680,065.15 |
| Plus: Other income | 3,622,778.89 | 7,908,439.72 |
| Return on investment ("-" indicates loss) | 1,534,645.92 | |
| Including: Return on investment in associates and joint ventures | ||
| Income from the derecognition of financial assets measured at amortized cost | ||
| Exchange gain ("-" indicates loss) | ||
| Gains from net exposure hedging ("-" indicates loss) | ||
| Gains from changes in fair value ("-" indicates loss) | ||
| Credit impairment losses ("-" indicates loss) | 459,980.55 | 345,871.89 |
| Asset impairment losses ("-" indicates loss) | -78,026.84 | -201,032.86 |
| Return on disposal of assets ("-" indicates loss) | -710,885.21 | -814,565.89 |
| III. Operating Profit ("-" indicates loss) | 270,461,797.81 | 197,204,384.37 |
| Plus: Non-operating income | 1,270,801.04 | 1,555,199.50 |
| Less: Non-operating expenditure | 1,052,240.81 | 1,312,737.15 |
| IV. Total Profit ("-" indicates total loss) | 270,680,358.04 | 197,446,846.72 |
| Less: Income tax expense | 51,686,740.58 | 34,513,792.02 |
| V. Net Profit ("-" indicates net loss) | 218,993,617.46 | 162,933,054.70 |
| i. Classified by operation continuity | ||
| 1. Net profit from continued operation ("-" indicates | 218,993,617.46 | 162,933,054.70 |
| net loss) | ||
| 2. Net profit from discontinued operation ("-" indicates net loss) | ||
| ii. Classified by attribution of ownership | ||
| 1. Net profit attributable to owners of the parent company | 218,993,617.46 | 162,933,054.70 |
| 2. Minority shareholders' profits and losses | ||
| VI. Net Amount of Other Comprehensive Income after Tax | ||
| Total other comprehensive after-tax net income attributable to owners of the parent company | ||
| i. Other comprehensive income not able to be reclassified into the profit or loss | ||
| 1. Changes of re-measurement of the defined benefit plan | ||
| 2. Other comprehensive income cannot be transferred into the profit or loss under equity method | ||
| 3. Changes in fair value of investment in other equity instruments | ||
| 4. Changes in fair value of credit risk of the enterprise | ||
| 5. Others | ||
| ii. Other comprehensive income reclassified into the profit or loss | ||
| 1. Other comprehensive income to be transferred into the profit or loss under equity method | ||
| 2. Changes in fair value of investment in other creditor's rights | ||
| 3. Financial assets reclassified into other comprehensive income | ||
| 4. Impairment provision for credit of investment in other creditor's rights | ||
| 5. Reserve of cash flow hedge | ||
| 6. Converted difference in foreign currency financial statements | ||
| 7. Others | ||
| Total other comprehensive after-tax net income attributable to minority shareholders | ||
| VII. Total Comprehensive Income | 218,993,617.46 | 162,933,054.70 |
| Total comprehensive income attributable to owners of the parent company | 218,993,617.46 | 162,933,054.70 |
| Total comprehensive income attributable to minority shareholders | ||
| VIII. Earnings per Share: | ||
| i. Basic earnings per share | 0.1698 | 0.1284 |
| ii. Diluted earnings per share | 0.1669 | 0.1264 |
For business combinations of the current period under common control, the net profit realized by
the combined party before the combination is: RMB0.00, the net profit realized by the combinedparty in last period is: RMB0.00.Legal representative: Deng Yingzhong Person in charge of accounting: Dong Ye Person in chargeof accounting department: Xu Xianjing
4. Income statement of the parent company in the current reporting period
Unit: RMB
| Item | Incurred in the current period | Incurred in the prior period |
| I. Operating Income | 357,714,594.68 | 346,562,595.02 |
| Less: Operating cost | 288,991,058.07 | 291,932,189.39 |
| Tax and surcharges | 740,667.18 | 793,472.19 |
| Selling expenses | 39,596,454.67 | 29,068,827.32 |
| Administrative expense | 49,226,905.84 | 21,050,430.56 |
| R&D expenses | ||
| Finance expenses | -3,026,300.69 | -2,832,140.91 |
| Including: Interest fees | 1,593,027.78 | |
| Interest Income | -365,090.35 | 4,751,385.61 |
| Plus: Other income | 304,837.86 | 1,101,837.86 |
| Return on investment ("-" indicates loss) | 1,100,502.73 | |
| Including: Return on investment in associates and joint ventures | ||
| Profits from derecognition of financial assets at amortized cost | ||
| Gains from net exposure hedging ("-" indicates loss) | ||
| Gains from changes in fair value ("-" indicates loss) | ||
| Credit impairment losses ("-" indicates loss) | 1,126,334.98 | 64,340.65 |
| Asset impairment losses ("-" indicates loss) | 302,683.55 | -183,961.08 |
| Return on disposal of assets ("-" indicates loss) | -36,281.11 | |
| II. Operating Profit ("-" indicates loss) | -14,979,831.27 | 7,495,752.79 |
| Plus: Non-operating income | 205,629.20 | 74,082.07 |
| Less: Non-operating expenditure | 734,409.54 | 565,849.88 |
| III. Total Profit ("-" indicates total loss) | -15,508,611.61 | 7,003,984.98 |
| Less: Income tax expense | -1,010,928.10 | 1,795,079.71 |
| IV. Net Profit ("-" indicates net loss) | -14,497,683.51 | 5,208,905.27 |
| i. Net profit from continued operation ("-" indicates net loss) | -14,497,683.51 | 5,208,905.27 |
| ii. Net profit from discontinued operation ("-" indicates net loss) | ||
| V. Net Amount of Other Comprehensive Income after Tax | ||
| i. Other comprehensive income not able to be reclassified into the profit or loss | ||
| 1. Changes of re-measurement of the defined benefit plan |
| 2. Other comprehensive income cannot be transferred into the profit or loss under equity method | ||
| 3. Changes in fair value of investment in other equity instruments | ||
| 4. Changes in fair value of credit risk of the enterprise | ||
| 5. Others | ||
| ii. Other comprehensive income reclassified into the profit or loss | ||
| 1. Other comprehensive income to be transferred into the profit or loss under equity method | ||
| 2. Changes in fair value of investment in other creditor's rights | ||
| 3. Financial assets reclassified into other comprehensive income | ||
| 4. Impairment provision for credit of investment in other creditor's rights | ||
| 5. Reserve of cash flow hedge | ||
| 6. Converted difference in foreign currency financial statements | ||
| 7. Others | ||
| VI. Total Comprehensive Income | -14,497,683.51 | 5,208,905.27 |
| VII. Earnings per Share: | ||
| i. Basic earnings per share | ||
| ii. Diluted earnings per share |
5. Consolidated income statement from the beginning of the year to the end of the reportingperiod
Unit: RMB
| Item | Incurred in the current period | Incurred in the prior period |
| I. Total Operating Income | 5,555,315,729.00 | 4,819,879,798.90 |
| Including: Operating income | 5,555,315,729.00 | 4,819,879,798.90 |
| Interest Income | ||
| Gross earned premiums | ||
| Service charge and commission income | ||
| II. Total Operating Cost | 4,755,419,712.84 | 4,297,065,231.21 |
| Including: Operating costs | 2,964,942,631.40 | 2,974,220,680.48 |
| Interest expenses | ||
| Service charge and commission expenses | ||
| Surrender value | ||
| Net compensation expenses | ||
| Net appropriation of insurance reserve | ||
| Policy dividends expenses | ||
| Reinsurance costs | ||
| Tax and surcharges | 37,942,925.51 | 27,913,346.51 |
| Selling expenses | 1,342,148,313.68 | 944,810,702.19 |
| Administrative expense | 283,890,975.47 | 205,906,437.31 |
| R&D expenses | 137,574,572.36 | 118,454,859.19 |
| Finance expenses | -11,079,705.58 | 25,759,205.53 |
| Including: Interest fees | 2,071,645.66 | 11,433,974.85 |
| Interest Income | 5,956,376.08 | 2,373,514.43 |
| Plus: Other income | 18,797,424.09 | 12,465,460.13 |
| Return on investment ("-" indicates loss) | 3,821,920.79 | 72,378.41 |
| Including: Return on investment in associates and joint ventures | ||
| Income from the derecognition of financial assets measured at amortized cost | ||
| Exchange gain ("-" indicates loss) | ||
| Gains from net exposure hedging ("-" indicates loss) | ||
| Gains from changes in fair value ("-" indicates loss) | ||
| Credit impairment losses ("-" indicates loss) | -963,719.20 | 1,375,373.97 |
| Asset impairment losses ("-" indicates loss) | -928,408.24 | -2,723,441.85 |
| Return on disposal of assets ("-" indicates loss) | -1,607,755.26 | -1,203,738.96 |
| III. Operating Profit ("-" indicates loss) | 819,015,478.34 | 532,800,599.39 |
| Plus: Non-operating income | 4,440,042.20 | 4,290,948.72 |
| Less: Non-operating expenditure | 14,292,423.97 | 1,724,105.73 |
| IV. Total Profit ("-" indicates total loss) | 809,163,096.57 | 535,367,442.38 |
| Less: Income tax expense | 137,469,994.50 | 97,559,753.25 |
| V. Net Profit ("-" indicates net loss) | 671,693,102.07 | 437,807,689.13 |
| i. Classified by operation continuity | ||
| 1. Net profit from continued operation ("-" indicates net loss) | 671,693,102.07 | 437,807,689.13 |
| 2. Net profit from discontinued operation ("-" indicates net loss) | ||
| ii. Classified by attribution of ownership | ||
| 1. Net profit attributable to owners of the parent company | 671,693,102.07 | 437,807,689.13 |
| 2. Minority shareholders' profits and losses | ||
| VI. Net Amount of Other Comprehensive Income after Tax | ||
| Total other comprehensive after-tax net income attributable to owners of the parent company | ||
| i. Other comprehensive income not able to be reclassified into the profit or loss | ||
| 1. Changes of re-measurement of the defined benefit plan | ||
| 2. Other comprehensive income cannot be transferred into the profit or loss under equity method | ||
| 3. Changes in fair value of investment in other equity instruments | ||
| 4. Changes in fair value of credit risk of the enterprise | ||
| 5. Others |
| ii. Other comprehensive income reclassified into the profit or loss | ||
| 1. Other comprehensive income to be transferred into the profit or loss under equity method | ||
| 2. Changes in fair value of investment in other creditor's rights | ||
| 3. Financial assets reclassified into other comprehensive income | ||
| 4. Impairment provision for credit of investment in other creditor's rights | ||
| 5. Reserve of cash flow hedge | ||
| 6. Converted difference in foreign currency financial statements | ||
| 7. Others | ||
| Total other comprehensive after-tax net income attributable to minority shareholders | ||
| VII. Total Comprehensive Income | 671,693,102.07 | 437,807,689.13 |
| Total comprehensive income attributable to owners of the parent company | 671,693,102.07 | 437,807,689.13 |
| Total comprehensive income attributable to minority shareholders | ||
| VIII. Earnings per Share: | ||
| i. Basic earnings per share | 0.5207 | 0.3432 |
| ii. Diluted earnings per share | 0.5120 | 0.3420 |
For business combinations of the current period under common control, the net profit realized bythe combined party before the combination is: RMB0.00, the net profit realized by the combinedparty in last period is: RMB0.00.Legal representative: Deng Yingzhong Person in charge of accounting: Dong Ye Person in charge ofaccounting department: Xu Xianjing
6. Income statement of the parent company from the beginning of the year to the end of thereporting period
Unit: RMB
| Item | Incurred in the current period | Incurred in the prior period |
| I. Operating Income | 1,211,605,858.71 | 910,176,575.62 |
| Less: Operating cost | 1,001,606,035.81 | 760,176,062.35 |
| Tax and surcharges | 3,372,326.22 | 2,957,990.93 |
| Selling expenses | 106,097,969.95 | 84,844,125.83 |
| Administrative expense | 140,400,691.44 | 47,688,830.69 |
| R&D expenses | ||
| Finance expenses | -2,353,923.06 | -6,080,930.38 |
| Including: Interest fees | 8,298,128.12 | |
| Interest Income | 1,357,073.84 | 16,179,656.69 |
| Plus: Other income | 1,403,673.66 | 1,586,195.39 |
| Return on investment ("-" indicates loss) | 143,210,018.50 | 72,378.41 |
| Including: Return on investment in associates and joint ventures | ||
| Profits from derecognition of financial assets at amortized cost | ||
| Gains from net exposure hedging ("-" indicates loss) | ||
| Gains from changes in fair value ("-" indicates loss) | ||
| Credit impairment losses ("-" indicates loss) | -351,491.67 | -296,991.48 |
| Asset impairment losses ("-" indicates loss) | 67,472.89 | -349,369.76 |
| Return on disposal of assets ("-" indicates loss) | -613,479.84 | -505,300.36 |
| II. Operating Profit ("-" indicates loss) | 106,198,951.89 | 21,097,408.40 |
| Plus: Non-operating income | 573,169.53 | 246,108.25 |
| Less: Non-operating expenditure | 12,496,561.31 | 621,748.80 |
| III. Total Profit ("-" indicates total loss) | 94,275,560.11 | 20,721,767.85 |
| Less: Income tax expense | -4,738,575.56 | 5,183,573.51 |
| IV. Net Profit ("-" indicates net loss) | 99,014,135.67 | 15,538,194.34 |
| i. Net profit from continued operation ("-" indicates net loss) | 99,014,135.67 | 15,538,194.34 |
| ii. Net profit from discontinued operation ("-" indicates net loss) | ||
| V. Net Amount of Other Comprehensive Income after Tax | ||
| i. Other comprehensive income not able to be reclassified into the profit or loss | ||
| 1. Changes of re-measurement of the defined benefit plan | ||
| 2. Other comprehensive income cannot be transferred into the profit or loss under equity method | ||
| 3. Changes in fair value of investment in other equity instruments | ||
| 4. Changes in fair value of credit risk of the enterprise | ||
| 5. Others | ||
| ii. Other comprehensive income reclassified into the profit or loss | ||
| 1. Other comprehensive income to be transferred into the profit or loss under equity method | ||
| 2. Changes in fair value of investment in other creditor's rights | ||
| 3. Financial assets reclassified into other comprehensive income | ||
| 4. Impairment provision for credit of investment in other creditor's rights | ||
| 5. Reserve of cash flow hedge | ||
| 6. Converted difference in foreign currency financial statements | ||
| 7. Others | ||
| VI. Total Comprehensive Income | 99,014,135.67 | 15,538,194.34 |
| VII. Earnings per Share: | ||
| i. Basic earnings per share | ||
| ii. Diluted earnings per share |
7. Consolidated statement of cash flows from the beginning of the year to the end of thereporting period
Unit: RMB
| Item | Incurred in the current period | Incurred in the prior period |
| I. Cash Flows from Operating Activities: | ||
| Cash received from sale of goods or rendering of services | 5,535,241,894.34 | 5,120,768,222.78 |
| Net increase in deposits from customers, banks and non-bank financial institutions | ||
| Net increase in due to central banks | ||
| Net increase in placements from other financial institutions | ||
| Cash received from the premium of direct insurance contracts | ||
| Net cash from reinsurance business | ||
| Net increase in deposits and investment of the insured | ||
| Cash obtained from interest, net fee and commission | ||
| Net increase in placements from banks and other financial institutions | ||
| Net increase in repo service fund | ||
| Net cash from agent securities trading | ||
| Tax rebates | 7,205,724.03 | 58,481.03 |
| Cash received related to other operating activities | 95,719,026.24 | 198,641,177.55 |
| Sub-total of cash inflow from operating activities | 5,638,166,644.61 | 5,319,467,881.36 |
| Cash paid for goods purchased and services rendered | 3,819,517,900.19 | 3,045,391,053.95 |
| Net loans and advances to customers | ||
| Net increase in deposits with the central bank, banks and non-bank financial institutions | ||
| Cash paid for claims of direct insurance contracts | ||
| Net increase in placements with banks and non-bank financial institutions | ||
| Cash paid for interest, fee and commission | ||
| Cash paid for dividends of the insured | ||
| Cash paid to and on behalf of employees | 490,559,056.65 | 419,597,051.73 |
| Tax payments | 363,184,736.53 | 216,572,326.13 |
| Cash payments related to other operating activities | 553,585,391.96 | 598,247,992.50 |
| Sub-total of cash outflow from operating activities | 5,226,847,085.33 | 4,279,808,424.31 |
| Net cash flows from operating activities | 411,319,559.28 | 1,039,659,457.05 |
| II. Cash Flows from Investing Activities: | ||
| Cash from realization of investment | ||
| Cash received from the return on investments | 3,821,920.79 | 72,378.41 |
| Net cash received from the disposal of fixed assets, intangible assets, and other long-term assets | 38,795,131.20 | 1,109,875.90 |
| Net amount of cash received from the disposal of subsidiaries and other operating organizations | ||
| Cash received related to other investing activities | 127,105,000.00 | |
| Sub-total of cash inflow from investing activities | 169,722,051.99 | 1,182,254.31 |
| Cash paid for the acquisition and construction of fixed assets, intangible assets, and other long-term assets | 331,376,920.99 | 522,011,515.70 |
| Cash paid for investments | ||
| Net increase in pledged loans | ||
| Net amount of cash paid for acquisition of subsidiaries and other operating organizations | ||
| Cash payments related to other investing activities | 20,000,000.00 | |
| Sub-total of cash outflow from investing activities | 351,376,920.99 | 522,011,515.70 |
| Net cash flows from investing activities | -181,654,869.00 | -520,829,261.39 |
| III. Cash Flows from Financing Activities: | ||
| Cash received from capital contribution | 25,097,753.55 | 104,792,649.00 |
| Including: Proceeds received by subsidiaries from minority shareholders' investment | ||
| Cash received from borrowings | 383,892,976.77 | 146,570,643.63 |
| Cash received related to other financing activities | 9,364,387.84 | |
| Sub-total of cash inflow from financing activities | 408,990,730.32 | 260,727,680.47 |
| Cash paid for repayments of borrowings | 168,952,706.91 | 492,790,290.97 |
| Cash payment for interest expenses and distribution of dividends or profits | 99,104,244.85 | 43,629,550.54 |
| Including: Dividend and profit paid by subsidiaries to minority shareholders | ||
| Cash payments related to other financing activities | 45,439,244.79 | 460,054.74 |
| Sub-total of cash outflow from financing activities | 313,496,196.55 | 536,879,896.25 |
| Net cash flows from financing activities | 95,494,533.77 | -276,152,215.78 |
| IV. Effect of Exchange Rate Changes on Cash and Cash Equivalents | 206,510.56 | 2,665,855.28 |
| V. Net Increase in Cash and Cash Equivalents | 325,365,734.61 | 245,343,835.16 |
| Plus: Opening balance of cash and cash equivalents | 675,996,852.97 | 371,129,472.06 |
| VI. Closing Balance of Cash and Cash Equivalents | 1,001,362,587.58 | 616,473,307.22 |
8. Statement of cash flows of the parent company from the beginning of the year to the end ofthe reporting period
Unit: RMB
| Item | Incurred in the current period | Incurred in the prior period |
| I. Cash Flows from Operating Activities: | ||
| Cash received from sale of goods or rendering of services | 1,027,536,020.65 | 697,540,866.44 |
| Tax rebates | 120,214.00 | 45,391.27 |
| Cash received related to other operating activities | 1,353,252,968.86 | 1,055,486,549.16 |
| Sub-total of cash inflow from operating activities | 2,380,909,203.51 | 1,753,072,806.87 |
| Cash paid for goods purchased and services rendered | 729,838,410.92 | 423,729,613.61 |
| Cash paid to and on behalf of employees | 93,709,448.62 | 51,132,694.24 |
| Tax payments | 20,721,247.17 | 17,537,258.66 |
| Cash payments related to other operating activities | 978,899,629.60 | 1,016,530,816.36 |
| Sub-total of cash outflow from operating activities | 1,823,168,736.31 | 1,508,930,382.87 |
| Net cash flows from operating activities | 557,740,467.20 | 244,142,424.00 |
| II. Cash Flows from Investing Activities: | ||
| Cash from realization of investment | ||
| Cash received from the return on investments | 143,210,018.50 | 72,378.41 |
| Net cash received from the disposal of fixed assets, intangible assets, and other long-term assets | 52,488.80 | 429,480.00 |
| Net amount of cash received from the disposal of subsidiaries and other operating organizations | ||
| Cash received related to other investing activities | 127,105,000.00 | |
| Sub-total of cash inflow from investing activities | 270,367,507.30 | 501,858.41 |
| Cash paid for the acquisition and construction of fixed assets, intangible assets, and other long-term assets | 28,897,714.19 | 10,675,016.50 |
| Cash paid for investments | 665,600,000.00 | |
| Net amount of cash paid for acquisition of subsidiaries and other operating organizations | ||
| Cash payments related to other investing activities | 20,000,000.00 | |
| Sub-total of cash outflow from investing activities | 714,497,714.19 | 10,675,016.50 |
| Net cash flows from investing activities | -444,130,206.89 | -10,173,158.09 |
| III. Cash Flows from Financing Activities: | ||
| Cash received from capital contribution | 25,097,753.55 | 104,792,649.00 |
| Cash received from borrowings | ||
| Cash received related to other financing activities | 3,420,427.40 | |
| Sub-total of cash inflow from financing activities | 25,097,753.55 | 108,213,076.40 |
| Cash paid for repayments of borrowings | 257,600,000.00 | |
| Cash payment for interest expenses and distribution of dividends or profits | 96,955,934.28 | 40,074,519.95 |
| Cash payments related to other financing activities | 31,482,943.91 | 460,054.74 |
| Sub-total of cash outflow from financing activities | 128,438,878.19 | 298,134,574.69 |
| Net cash flows from financing activities | -103,341,124.64 | -189,921,498.29 |
| IV. Effect of Exchange Rate Changes on Cash and Cash Equivalents | 257,164.57 | 62,039.12 |
| V. Net Increase in Cash and Cash Equivalents | 10,526,300.24 | 44,109,806.74 |
| Plus: Opening balance of cash and cash equivalents | 156,151,560.82 | 95,287,969.57 |
| VI. Closing Balance of Cash and Cash Equivalents | 166,677,861.06 | 139,397,776.31 |
II. Explanation of the adjustment of financial statements
1. Since 2020, the adjustment of relevant items of the financial statements at the beginning of theyear for the first time according to the implementation of the new standards for income, and the newleasing standards for the first time.
√ Applicable □ Inapplicable
Whether to adjust the subjects of the balance sheet at the beginning of the year
√ Yes □ No
Consolidated Balance Sheet
Unit: RMB
| Item | December 31, 2019 | January 1, 2020 | Adjustment number |
| Current assets: | |||
| Monetary funds | 703,746,624.42 | 703,746,624.42 | |
| Settlement reserve | |||
| Lending to banks and other financial institutions | |||
| Tradable financial assets | |||
| Derivative financial assets | |||
| Notes receivable | 301,904.32 | 301,904.32 | |
| Accounts receivable | 807,772,897.68 | 807,772,897.68 |
| Accounts receivable financing | |||
| Prepayments | 14,877,757.16 | 14,877,757.16 | |
| Premium receivable | |||
| Reinsurance payables | |||
| Reinsurance contract reserves receivable | |||
| Other receivables | 8,240,417.99 | 8,240,417.99 | |
| Including: Interest receivable | |||
| Dividends receivable | |||
| Financial assets held under resale agreements | |||
| Inventory | 986,405,689.17 | 986,405,689.17 | |
| Contract assets | |||
| Assets held for sale | 57,073,059.69 | 57,073,059.69 | |
| Non-current assets due within one year | |||
| Other current assets | 165,567,805.78 | 165,567,805.78 | |
| Total current assets | 2,743,986,156.21 | 2,743,986,156.21 | |
| Non-current assets: | |||
| Loans and advances to customers | |||
| Credit right investments | |||
| Other credit right investments | |||
| Long-term receivable | |||
| Long-term equity investment | |||
| Investment in other equity instruments | |||
| Other non-current assets | |||
| Investment property | 36,039,381.30 | 36,039,381.30 | |
| Property and equipment | 2,921,392,106.87 | 2,921,392,106.87 | |
| Construction work in progress | 55,734,236.91 | 55,734,236.91 | |
| Productive biological assets | |||
| Oil & gas assets | |||
| Right-of-use assets | |||
| Intangible assets | 168,731,781.83 | 168,731,781.83 | |
| Development expenses | |||
| Goodwill | 64,654.15 | 64,654.15 | |
| Long-term deferred expenses | 13,686,397.24 | 13,686,397.24 | |
| Deferred income tax assets | 80,331,080.17 | 80,331,080.17 | |
| Other non-current assets | 6,306,028.96 | 6,306,028.96 | |
| Total non-current assets | 3,282,285,667.43 | 3,282,285,667.43 | |
| Total assets | 6,026,271,823.64 | 6,026,271,823.64 | |
| Current liabilities: | |||
| Short-term loans | 14,721,492.38 | 14,721,492.38 | |
| Borrowings from PBC | |||
| Placements from banks and other financial institutions | |||
| Tradable financial liabilities | |||
| Derivative financial liabilities | |||
| Notes payable | 202,653,860.31 | 202,653,860.31 | |
| Accounts payable | 578,212,781.22 | 578,212,781.22 | |
| Payments received in advance | 142,476,562.31 | -142,476,562.31 |
| Contract liabilities | 142,476,562.31 | 142,476,562.31 | |
| Proceeds from financial assets sold under repo | |||
| Customer bank deposits and due to banks and other financial institutions | |||
| Funds from securities trading agency | |||
| Funds from securities underwriting agency | |||
| Employee remuneration payable | 106,413,600.27 | 106,413,600.27 | |
| Tax and fees payable | 101,670,618.11 | 101,670,618.11 | |
| Other payables | 635,834,511.05 | 635,834,511.05 | |
| Including: Interests payable | 173,259.89 | 173,259.89 | |
| Dividends payable | 452,536.50 | 452,536.50 | |
| Transaction fee and commission receivable | |||
| Reinsurance payable | |||
| Liabilities held for sale | |||
| Non-current liabilities due within one year | 32,400,000.00 | 32,400,000.00 | |
| Other current liabilities | |||
| Total current liabilities | 1,814,383,425.65 | 1,814,383,425.65 | |
| Non-current liabilities: | |||
| Insurance contract reserves | |||
| Long-term Loans | 22,500,000.00 | 22,500,000.00 | |
| Bonds payable | |||
| Including: Preference shares | |||
| Perpetual bonds | |||
| Lease liabilities | |||
| Long-term payable | |||
| Long-term employee remuneration payable | |||
| Provision | |||
| Deferred income | 82,367,831.33 | 82,367,831.33 | |
| Deferred income tax liabilities | 30,016,107.43 | 30,016,107.43 | |
| Other non-current liabilities | |||
| Total non-current liabilities | 134,883,938.76 | 134,883,938.76 | |
| Total liabilities | 1,949,267,364.41 | 1,949,267,364.41 | |
| Owner's equity: | |||
| Share capital | 1,308,891,273.00 | 1,308,891,273.00 | |
| Other equity instruments | |||
| Including: Preference shares | |||
| Perpetual bonds | |||
| Capital reserve | 760,731,416.57 | 760,731,416.57 | |
| Less: Treasury shares | 104,792,649.00 | 104,792,649.00 | |
| Other comprehensive income | |||
| Special reserves | |||
| Surplus reserves | 53,205,582.86 | 53,205,582.86 | |
| General reserves | |||
| Retained earnings | 2,058,968,835.80 | 2,058,968,835.80 | |
| Total equity attributable to the owners of the parent company | 4,077,004,459.23 | 4,077,004,459.23 |
| Equities of minority shareholders | |||
| Total owner's equity | 4,077,004,459.23 | 4,077,004,459.23 | |
| Total liabilities and owners' equities | 6,026,271,823.64 | 6,026,271,823.64 |
Explanation of adjustmentThe parent company's balance sheet
Unit: RMB
| Item | December 31, 2019 | January 1, 2020 | Adjustment number |
| Current assets: | |||
| Monetary funds | 156,202,659.45 | 156,202,659.45 | |
| Tradable financial assets | |||
| Derivative financial assets | |||
| Notes receivable | |||
| Accounts receivable | 127,203,426.87 | 127,203,426.87 | |
| Accounts receivable financing | |||
| Prepayments | 2,565,716.66 | 2,565,716.66 | |
| Other receivables | 637,511,752.54 | 637,511,752.54 | |
| Including: Interest receivable | |||
| Dividends receivable | |||
| Inventory | 84,567,041.98 | 84,567,041.98 | |
| Contract assets | |||
| Assets held for sale | |||
| Non-current assets due within one year | |||
| Other current assets | 129,377,576.74 | 129,377,576.74 | |
| Total current assets | 1,137,428,174.24 | 1,137,428,174.24 | |
| Non-current assets: | |||
| Credit right investments | |||
| Other credit right investments | |||
| Long-term receivable | |||
| Long-term equity investment | 1,231,245,128.96 | 1,231,245,128.96 | |
| Investment in other equity instruments | |||
| Other non-current assets | |||
| Investment property | 18,745,192.09 | 18,745,192.09 | |
| Property and equipment | 222,724,273.70 | 222,724,273.70 | |
| Construction work in progress | 35,260,100.44 | 35,260,100.44 | |
| Productive biological assets | |||
| Oil & gas assets | |||
| Right-of-use assets | |||
| Intangible assets | 21,259,498.66 | 21,259,498.66 | |
| Development expenses | |||
| Goodwill | |||
| Long-term deferred expenses | |||
| Deferred income tax assets | 18,366,334.29 | 18,366,334.29 | |
| Other non-current assets | 4,521,074.21 | 4,521,074.21 | |
| Total non-current assets | 1,552,121,602.35 | 1,552,121,602.35 |
| Total assets | 2,689,549,776.59 | 2,689,549,776.59 | |
| Current liabilities: | |||
| Short-term loans | |||
| Tradable financial liabilities | |||
| Derivative financial liabilities | |||
| Notes payable | |||
| Accounts payable | 325,506,510.90 | 325,506,510.90 | |
| Payments received in advance | 28,227,454.47 | -28,227,454.47 | |
| Contract liabilities | 28,227,454.47 | 28,227,454.47 | |
| Employee remuneration payable | 24,280,403.99 | 24,280,403.99 | |
| Tax and fees payable | 3,225,793.88 | 3,225,793.88 | |
| Other payables | 167,279,884.09 | 167,279,884.09 | |
| Including: Interests payable | |||
| Dividends payable | 452,536.50 | 452,536.50 | |
| Liabilities held for sale | |||
| Non-current liabilities due within one year | |||
| Other current liabilities | |||
| Total current liabilities | 548,520,047.33 | 548,520,047.33 | |
| Non-current liabilities: | |||
| Long-term Loans | |||
| Bonds payable | |||
| Including: Preference shares | |||
| Perpetual bonds | |||
| Lease liabilities | |||
| Long-term payable | |||
| Long-term employee remuneration payable | |||
| Provision | |||
| Deferred income | 7,062,818.69 | 7,062,818.69 | |
| Deferred income tax liabilities | 5,575,323.82 | 5,575,323.82 | |
| Other non-current liabilities | |||
| Total non-current liabilities | 12,638,142.51 | 12,638,142.51 | |
| Total liabilities | 561,158,189.84 | 561,158,189.84 | |
| Owner's equity: | |||
| Share capital | 1,308,891,273.00 | 1,308,891,273.00 | |
| Other equity instruments | |||
| Including: Preference shares | |||
| Perpetual bonds | |||
| Capital reserve | 690,241,724.38 | 690,241,724.38 | |
| Less: Treasury shares | 104,792,649.00 | 104,792,649.00 | |
| Other comprehensive income | |||
| Special reserves | |||
| Surplus reserves | 53,084,248.58 | 53,084,248.58 | |
| Retained earnings | 180,966,989.79 | 180,966,989.79 | |
| Total owner's equity | 2,128,391,586.75 | 2,128,391,586.75 | |
| Total liabilities and owners' equities | 2,689,549,776.59 | 2,689,549,776.59 |
2. Explanation of the retrospective adjustment of previous comparable data according to theimplementation of the new Revenue Standards and the new leasing standards for the firsttime in 2020.
□ Applicable √ Inapplicable
III. Audit ReportWhether the Q3 report has been audited
□ Yes √ No
The Q3 report has not been audited.
In the event of any inconsistency between the Chinese and English versions of the report, theChinese version announced shall prevail.