China Fangda Group Co., Ltd.
2020 First Quarter Report
April 2020
I Important StatementThe members of the Board and the Company guarantee that the quarterlyreport is free from any false information, misleading statement or materialomission and are jointly and severally liable for the information’s truthfulness,accuracy and integrity.
All the Directors have attended the meeting of the board meeting at whichthis report was examined.
Mr. Xiong Jianming, the Chairman of Board, Mr. Lin Kebin, the ChiefFinancial Officer, and Mr. Wu Bohua, the manager of accounting departmentdeclare: the Financial Report carried in this report is authentic and completed.
II. General Information
1. Financial Highlight
Whether the Company needs to make retroactive adjustment or restatement of financial data of previous years
□ Yes √ No
This report period | Same period last year | Year-on-year change (%) | |
Turnover (yuan) | 413,826,888.79 | 670,452,093.70 | -38.28% |
Net profit attributable to shareholders of the listed company (yuan) | 94,777,419.75 | 69,998,533.09 | 35.40% |
Net profit attributable to the shareholders of the listed company and after deducting of non-recurring gain/loss (RMB) | 95,563,557.35 | 64,930,951.19 | 47.18% |
Net cash flow generated by business operation (RMB) | -339,105,046.99 | -296,237,735.96 | -14.47% |
Basic earnings per share (yuan/share) | 0.08 | 0.06 | 33.33% |
Diluted Earnings per share (yuan/share) | 0.08 | 0.06 | 33.33% |
Weighted average net income/asset ratio | 1.81% | 1.37% | 0.44% |
End of the report period | End of last year | Year-on-year change | |
Total asset (RMB) | 11,349,613,130.91 | 11,369,964,580.11 | -0.18% |
Net profit attributable to the shareholders of the listed company (RMB) | 5,264,523,419.03 | 5,182,795,079.67 | 1.58% |
In the current period, the net profit of the current period is increased by about 7, 570.26 million yuan as a result of changes in theaccounting estimates of accounts receivable and the expected credit loss rate of contractual assets.
Accidental gain/loss item and amount
√ Applicable □ Inapplicable
In RMB
Item | Amount from beginning of the year to the end of the report period | Notes |
Subsidies accounted into the current income account (except the government subsidy closely related to the enterprise’s business and based on unified national standard quota) | 712,484.43 |
Gain/loss from change of fair value of transactional financial asset and liabilities, and investment gains from disposal of transactional and derivative financial assets and liabilities and sellable financial assets, other than valid period value instruments related to the Company’s common businesses | 1,026,287.87 | |
Gain/loss from commissioned loans | 226,200.00 | |
Other non-business income and expenditures other than the above | -2,923,742.72 | |
Less: Influenced amount of income tax | -172,632.82 | |
Total | -786,137.60 | -- |
Explanation statement should be made for accidental gain/loss items defined and accidental gain/loss items defined as regulargain/loss items according to the Explanation Announcement of Information Disclosure No. 1 - Non-recurring gain/loss mentioned.
□ Applicable √ Inapplicable
No circumstance that should be defined as recurrent profit and loss according to Explanation Announcement of InformationDisclosure No. 1 - Non-recurring gain/loss occurs in the report period.
2. Total number of shareholders and shareholding of top 10 shareholders by the end of thereport period
1. Ordinary shareholders, preference shareholders with resumed voting rights and top 10 shareholders
In share
Number of shareholders of common shares at the end of the report period | 63,114 | Number of shareholders of preferred stocks of which voting rights recovered in the report period (if any) | 0 | |||
Top 10 Shareholders | ||||||
Shareholder name | Nature of shareholder | Shareholding percentage | Shareholding number | Conditional shares | Pledging or freezing | |
Share status | Quantity | |||||
Shenzhen Banglin Technologies Development Co., Ltd. | Domestic non-state legal person | 10.22% | 114,847,854 | 0 | Pledged | 32,700,000 |
Shengjiu Investment Ltd. | Foreign legal person | 9.27% | 104,127,379 | 0 | ||
Fang Wei | Domestic natural person | 3.50% | 39,372,437 | 0 |
Gong Qing Cheng Shi Li He Investment Management Partnership Enterprise (limited partner) | Domestic non-state legal person | 2.38% | 26,791,488 | 0 | ||
VANGUARD EMERGING MARKETS STOCK INDEX FUND | Foreign legal person | 0.71% | 7,946,483 | 0 | ||
Shenwan Hongyuan Securities (Hong Kong) Co., Ltd. | Foreign legal person | 0.65% | 7,253,756 | 0 | ||
SUN HUNG KAI INVESTMENT SERVICES LTD | Foreign legal person | 0.62% | 6,916,495 | 0 | ||
Liu Qi | Domestic natural person | 0.54% | 6,115,600 | 0 | ||
VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND | Foreign legal person | 0.53% | 5,911,907 | 0 | ||
Qu Chunlin | Domestic natural person | 0.49% | 5,557,011 | 0 | ||
Top 10 holders of unconditional shares | ||||||
Shareholder name | Amount of shares without sales restriction | Category of shares | ||||
Category of shares | Quantity | |||||
Shenzhen Banglin Technologies Development Co., Ltd. | 114,847,854 | RMB common shares | 114,847,854 | |||
Shengjiu Investment Ltd. | 104,127,379 | Foreign shares listed in domestic exchanges | 104,127,379 | |||
Fang Wei | 39,372,437 | RMB common shares | 39,372,437 |
Gong Qing Cheng Shi Li He Investment Management Partnership Enterprise (limited partner) | 26,791,488 | RMB common shares | 26,791,488 |
VANGUARD EMERGING MARKETS STOCK INDEX FUND | 7,946,483 | Foreign shares listed in domestic exchanges | 7,946,483 |
Shenwan Hongyuan Securities (Hong Kong) Co., Ltd. | 7,253,756 | Foreign shares listed in domestic exchanges | 7,253,756 |
SUN HUNG KAI INVESTMENT SERVICES LTD | 6,916,495 | Foreign shares listed in domestic exchanges | 6,916,495 |
Liu Qi | 6,115,600 | RMB common shares | 6,115,600 |
VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND | 5,911,907 | Foreign shares listed in domestic exchanges | 5,911,907 |
Qu Chunlin | 5,557,011 | RMB common shares | 5,557,011 |
Notes to top ten shareholder relationship or "action in concert" | Among the shareholders, Shenzhen Banglin Technology Development Co., Ltd. and Shengjiu Investment Co., Ltd. are parties action-in-concert. Shenzhen Banglin Technology Development Co., Ltd. and Gong Qing Cheng Shi Li He Investment Management Partnership Enterprise are related parties.The Company is not notified of other action-in-concert or related parties among the other holders of current shares. | ||
Top-10 common share shareholders participating in margin trade (if any) | None |
Agreed re-purchasing by the Company’s top 10 shareholders of common shares and top 10 shareholders of unconditional commonshares in the report period
□ Yes √ No
No agreed re-purchasing by the Company’s top 10 shareholders of common shares and top 10 shareholders of unconditional commonshares in the report period
2. Total number of preferred shareholders and shareholding of top 10 preferred shareholders by the end ofthe report period
□ Applicable √ Inapplicable
III Significant Events
1. Major changes in accounting items and financial data in the report period and reasons
√ Applicable □ Inapplicable
In RMB
Item | December 31, 2020 | December 31, 2019 | YOY change (%) | Reason |
Transactional financial assets | 42,597,937.65 | 10,330,062.18 | 312.37% | Mainly due to increase in Closing balance bank borrowings |
Account receivable | 275,062,961.50 | 1,956,191,307.07 | -85.94% | Mainly due to the implementation of the new income standard classification into contract assets |
Prepayment | 37,831,932.19 | 21,327,109.18 | 77.39% | Mainly due to increase in prepayment for materials |
Contract assets | 1,679,646,778.83 | 100.00% | Mainly due to the implementation of the new income standard classification into contract assets | |
Other current assets | 141,866,486.65 | 323,765,585.90 | -56.18% | Mainly due to redemption of prior-period structural deposits due in current period |
Derivative financial liabilities | 14,980,250.00 | 96,767.62 | 15380.64% | Due to adjustment of fair value of investment real estate |
Prepayment received | 1,811,168.69 | 136,340,104.73 | -98.67% | Mainly due to the implementation of the new income standard classification into contract Liabilities |
Employees' wage payable | 21,333,262.35 | 55,847,134.20 | -61.80% | Annual bonus paid |
Contract liabilities | 143,783,832.39 | 100.00% | Mainly due to the implementation of the new income standard classification into contract assets | |
Non-current liabilities due in 1 year | 446,154,052.14 | 922,346,563.72 | -51.63% | Mainly due to long-term borrowing of the return portion of the current period |
Long-term loans | 1,167,161,462.35 | 546,501,491.56 | 113.57% | Mainly due to long-term borrowing of the return portion of the current period |
Other miscellaneous | -13,524,489.64 | -475,409.25 | -2744.81% | Due to adjustment of fair value |
income | of investment real estate | |||
Item | Total amount in this year | Last period | YOY change (%) | Reason |
Turnover | 413,826,888.79 | 670,452,093.70 | -38.28% | Mainly due to the decrease in real estate sales over the same period last year and the decrease in output value due to epidemic |
Operation cost | 314,413,603.26 | 467,237,374.40 | -32.71% | Main due to decrease in income |
Taxes and surcharges | 3,390,682.90 | 33,241,693.55 | -89.80% | Mainly due to the decrease in estate income which is due to the decrease in provision of the land VAT. |
Administrative expense | 31,000,994.73 | 48,521,803.12 | -36.11% | Main due to decrease in Expense |
R&D cost | 14,980,824.81 | 4,150,525.60 | 260.94% | Mainly due to increased investment in research and development |
Credit impairment ("-" for loss) | 93,078,793.56 | 3,514,366.55 | 2548.52% | This is mainly due to a change in the accounting estimate by recalculating the expected credit loss rate of receivables based on the latest data information as required by the new Financial Instruments Guidelines |
Net profit attributable to the owners of parent company | 94,777,419.75 | 69,998,533.09 | 35.40% | Mainly due to the adjustment of the expected credit loss rate for the current period |
Cash flow generated by investment activities, net | 97,240,746.73 | -253,395,866.96 | 138.38% | Mainly due to the recovery of wealth management investment in this period is greater than the expenditure |
2. Progress of key issues and its impacts and solutions
□ Applicable √ Inapplicable
Progress in the implementation of share repurchase
√ Applicable □ Inapplicable
2.The company convened the 19th meeting of eighth board of directors and the first extraordinary general meeting of shareholders onNovember 28, 2019 and December 16, 2019 respectively. The plan for listing foreign shares (B shares) ".On March 13, 2020, thecompany disclosed the "2019 Annual Report on the Repurchase of Certain Domestically Listed Foreign Shares (B Shares) Shares ofthe Company". On April 3, 2020, the company repurchased 2,705,700 B shares of the company for the first time through centralized
auction , Accounting for 0.24% of the company ’s total share capital, the highest purchase price is 2.67 Hong Kong dollars / share,the lowest price is 2.45 Hong Kong dollars / share, and the total amount paid is 7,144,091.82 Hong Kong dollars (excludingtransaction fees).
Progress in the implementation of the reduction of shareholding shares by means of centralized bidding
□ Applicable √ Inapplicable
3. Commitments that have not been fulfilled by actual controller, shareholders, related parties,acquirers of the Company
□ Applicable √ Inapplicable
There is no commitment that has not been fulfilled by actual controller, shareholders, related parties, acquirers of the Company
4. Securities investment
□ Applicable √ Inapplicable
The Company made no investment in securities in the report period
5. Entrusted wealth management
√ Applicable □ Inapplicable
In RMB10,000
Type | Source of fund | Amount | Undue balance | Due balance to be recovered |
Bank financial products | Self-owned fund | 47,313.01 | 4,259.79 | 0 |
Total | 47,313.01 | 4,259.79 | 0 |
Specific circumstances of high-risk entrusted financing with large individual amount or low security, poor liquidity, and no costprotection
□ Applicable √ Inapplicable
Entrusted financial management expected to fail to recover the principal or likely result in impairment
□ Applicable √ Inapplicable
6. Derivative investment
√ Applicable □ Inapplicable
In RMB10,000
Derivative investment operator name | Relationship | Related transaction | Type | Initial amount | Start date | End date | Initial investment amount | Amount in this period | Amount sold in this period | Impairment provision (if any) | Closing investment amount | Proportion of closing investment amount in the closing net assets in the report period | Actual gain/loss in the report period |
Shanghai Futures Exchange | No | No | Shanghai aluminum | 0 | 01/01/2020 | March 31, 2020 | 10,149.04 | 295.27 | 9,853.78 | 1.87% | -20.31 | ||
Banks | No | No | Forward foreign exchange | 2,166 | 01/01/2020 | March 31, 2020 | 2,166 | 2,166 | 0 | 0.00% | -29.79 | ||
Total | 2,166 | -- | -- | 2,166 | 10,149.04 | 2,461.27 | 9,853.78 | 1.87% | -50.1 | ||||
Capital source | Self-owned fund | ||||||||||||
Lawsuit involved | None | ||||||||||||
Disclosure date of derivative investment approval by the Board of Directors | 31 October, 2017 | ||||||||||||
November 30, 2019 | |||||||||||||
Disclosure date of derivative investment approval by the shareholders’ meeting | None | ||||||||||||
Risk analysis and control measures for the derivative holding in the report period (including without limitation market, liquidity, credit, operation and legal risks) | The company's aluminum futures hedging and foreign exchange derivatives trading business are all derivatives investment business. The company has established and implemented the "Derivatives Investment Business Management Measures" and "Commodity Futures Hedging Business Internal Control and Risk Management System". It has made clear regulations on the approval authority, business management, risk management, information disclosure and file management of derivatives trading business, which can effectively control the risk of the company's derivatives holding positions. |
Changes in the market price or fair value of the derivative in the report period, the analysis of the derivative’s fair value should disclose the method used and related assumptions and parameters. | Fair value of derivatives are measured at open prices in the open market |
Material changes in the accounting policies and rules related to the derivative in the report period compared to last period | None |
Opinions of independent directors on the Company’s derivative investment and risk controlling | None |
7. Reception of investigations, communications, or interviews in the reporting period
√ Applicable □ Inapplicable
Time/date | Way | Visitor | Disclosure of information |
January 01, 2020 to March 31, 2020 | Written inquiry | Individual | Investor Q&A conducted on the interactive and e-platform of the Shenzhen Stock Exchange website (http://irm.cninfo.com.cn/) |
8. Incompliant external guarantee
□ Applicable √ Inapplicable
The Company made no incompliant external guarantee in the report period.
9. Non-operating capital use by the controlling shareholder or related parties in the reportingterm
□ Applicable √ Inapplicable
The controlling shareholder and its affiliates occupied no capital for non-operating purpose of the Company during the report period.
IV Financial Statements
1. Financial statements
1. Consolidated Balance Sheet
Prepared by: China Fangda Group Co., Ltd.
March 31, 2020
In RMB
Item | March 31, 2020 | 31 December 2019 |
Current asset: | ||
Monetary capital | 1,305,254,496.98 | 1,209,811,978.95 |
Settlement provision | ||
Outgoing call loan | ||
Transactional financial assets | 42,597,937.65 | 10,330,062.18 |
Derivative financial assets | ||
Notes receivable | 260,977,307.42 | 305,070,930.97 |
Account receivable | 275,062,961.50 | 1,956,191,307.07 |
Receivable financing | 1,472,986.00 | 2,954,029.00 |
Prepayment | 37,831,932.19 | 21,327,109.18 |
Insurance receivable | ||
Reinsurance receivable | ||
Provisions of Reinsurance contracts receivable | ||
Other receivables | 171,831,350.87 | 139,947,655.35 |
Including: interest receivable | ||
Dividend receivable | ||
Repurchasing of financial assets | ||
Inventory | 769,041,997.23 | 733,711,143.46 |
Contract assets | 1,679,646,778.83 | |
Assets held for sales | ||
Non-current assets due in 1 year | ||
Other current assets | 141,866,486.65 | 323,765,585.90 |
Total current assets | 4,685,584,235.32 | 4,703,109,802.06 |
Non-current assets: | ||
Loan and advancement provided | ||
Debt investment | ||
Other debt investment | ||
Long-term receivables | ||
Long-term share equity investment | 57,053,297.24 | 57,222,240.83 |
Investment in other equity tools | 20,660,181.44 | 20,660,181.44 |
Other non-current financial assets | 5,013,856.94 | 5,009,728.02 |
Investment real estate | 5,526,406,257.72 | 5,522,391,984.11 |
Fixed assets | 471,760,408.25 | 477,332,830.92 |
Construction in process | 137,218,049.71 | 129,988,982.86 |
Productive biological assets | ||
Gas & petrol | ||
Use right assets | ||
Intangible assets | 77,263,888.98 | 78,322,265.05 |
R&D expense | ||
Goodwill | ||
Long-term amortizable expenses | 4,175,900.83 | 3,875,198.12 |
Deferred income tax assets | 333,911,341.48 | 343,349,564.70 |
Other non-current assets | 30,565,713.00 | 28,701,802.00 |
Total of non-current assets | 6,664,028,895.59 | 6,666,854,778.05 |
Total of assets | 11,349,613,130.91 | 11,369,964,580.11 |
Current liabilities | ||
Short-term loans | 901,425,596.21 | 724,618,197.34 |
Loans from Central Bank | ||
Call loan received | ||
Transactional financial liabilities | ||
Derivative financial liabilities | 14,980,250.00 | 96,767.62 |
Notes payable | 491,474,890.57 | 578,816,027.44 |
Account payable | 932,332,203.83 | 1,190,773,300.24 |
Prepayment received | 1,811,168.69 | 136,340,104.73 |
Contract liabilities | 143,783,832.39 | |
Selling of repurchased financial assets |
Deposit received and held for others | ||
Entrusted trading of securities | ||
Entrusted selling of securities | ||
Employees' wage payable | 21,333,262.35 | 55,847,134.20 |
Taxes payable | 13,261,911.44 | 17,848,987.68 |
Other payables | 693,660,830.97 | 701,432,408.28 |
Including: interest payable | ||
Dividend payable | ||
Fees and commissions payable | ||
Reinsurance fee payable | ||
Liabilities held for sales | ||
Non-current liabilities due in 1 year | 446,154,052.14 | 922,346,563.72 |
Other current liabilities | 134,565,414.64 | 181,694,574.47 |
Total current liabilities | 3,794,783,413.23 | 4,509,814,065.72 |
Non-current liabilities: | ||
Insurance contract provision | ||
Long-term loans | 1,167,161,462.35 | 546,501,491.56 |
Bond payable | ||
Including: preferred stock | ||
Perpetual bond | ||
Lease liabilities | ||
Long-term payable | ||
Long-term employees’ wage payable | ||
Anticipated liabilities | 5,335,897.31 | 7,793,527.16 |
Deferred earning | 10,748,057.41 | 10,817,247.40 |
Deferred income tax liabilities | 1,058,659,536.08 | 1,063,833,159.00 |
Other non-current liabilities | ||
Total of non-current liabilities | 2,241,904,953.15 | 1,628,945,425.12 |
Total liabilities | 6,036,688,366.38 | 6,138,759,490.84 |
Owner’s equity: | ||
Share capital | 1,123,384,189.00 | 1,123,384,189.00 |
Other equity instruments |
Including: preferred stock | ||
Perpetual bond | ||
Capital reserves | 1,454,191.59 | 1,454,191.59 |
Less: Shares in stock | ||
Other miscellaneous income | -13,524,489.64 | -475,409.25 |
Special reserves | ||
Surplus reserve | 159,805,930.34 | 159,805,930.34 |
Common risk provisions | ||
Undistributed profit | 3,993,403,597.74 | 3,898,626,177.99 |
Total of owner’s equity belong to the parent company | 5,264,523,419.03 | 5,182,795,079.67 |
Minor shareholders’ equity | 48,401,345.50 | 48,410,009.60 |
Total of owners’ equity | 5,312,924,764.53 | 5,231,205,089.27 |
Total of liabilities and owner’s interest | 11,349,613,130.91 | 11,369,964,580.11 |
Legal representative: Xiong Jianming CFO: Lin Kebing Accounting Manager: Wu Bohua
2. Balance Sheet of the Parent Company
In RMB
Item | March 31, 2020 | 31 December, 2019 |
Current asset: | ||
Monetary capital | 281,250,615.02 | 175,591,953.63 |
Transactional financial assets | ||
Derivative financial assets | ||
Notes receivable | ||
Account receivable | 1,352,173.43 | 297,813.76 |
Receivable financing | ||
Prepayment | 60,990.56 | 250,205.32 |
Other receivables | 2,132,709,589.52 | 1,973,381,342.74 |
Including: interest receivable | ||
Dividend receivable | ||
Inventory | ||
Contract assets | ||
Assets held for sales | ||
Non-current assets due in 1 year |
Other current assets | 931,156.00 | 877,430.41 |
Total current assets | 2,416,304,524.53 | 2,150,398,745.86 |
Non-current assets: | ||
Debt investment | ||
Other debt investment | ||
Long-term receivables | ||
Long-term share equity investment | 963,508,253.00 | 963,508,253.00 |
Investment in other equity tools | 18,604,010.22 | 18,604,010.22 |
Other non-current financial assets | 48,831,242.35 | 48,831,242.35 |
Investment real estate | 295,355,002.00 | 295,355,002.00 |
Fixed assets | 66,803,009.98 | 67,361,529.52 |
Construction in process | ||
Productive biological assets | ||
Gas & petrol | ||
Use right assets | ||
Intangible assets | 1,744,519.79 | 1,824,589.22 |
R&D expense | ||
Goodwill | ||
Long-term amortizable expenses | 928,084.25 | 934,669.73 |
Deferred income tax assets | 46,612,122.44 | 44,408,630.81 |
Other non-current assets | ||
Total of non-current assets | 1,442,386,244.03 | 1,440,827,926.85 |
Total of assets | 3,858,690,768.56 | 3,591,226,672.71 |
Current liabilities | ||
Short-term loans | 200,256,666.67 | 300,442,988.19 |
Transactional financial liabilities | ||
Derivative financial liabilities | ||
Notes payable | ||
Account payable | 606,941.85 | 606,941.85 |
Prepayment received | 708,863.49 | 746,761.55 |
Contract liabilities | ||
Employees' wage payable | 1,254,349.93 | 3,215,013.16 |
Taxes payable | 484,036.82 | 312,647.89 |
Other payables | 696,597,777.98 | 109,837,934.17 |
Including: interest payable | ||
Dividend payable | ||
Liabilities held for sales | ||
Non-current liabilities due in 1 year | 380,572,858.33 | 520,872,206.95 |
Other current liabilities | ||
Total current liabilities | 1,280,481,495.07 | 936,034,493.76 |
Non-current liabilities: | ||
Long-term loans | 70,000,000.00 | |
Bond payable | ||
Including: preferred stock | ||
Perpetual bond | ||
Lease liabilities | ||
Long-term payable | ||
Long-term employees’ wage payable | ||
Anticipated liabilities | ||
Deferred earning | ||
Deferred income tax liabilities | 64,276,220.28 | 64,351,075.92 |
Other non-current liabilities | ||
Total of non-current liabilities | 64,276,220.28 | 134,351,075.92 |
Total liabilities | 1,344,757,715.35 | 1,070,385,569.68 |
Owner’s equity: | ||
Share capital | 1,123,384,189.00 | 1,123,384,189.00 |
Other equity instruments | ||
Including: preferred stock | ||
Perpetual bond | ||
Capital reserves | 360,835.52 | 360,835.52 |
Less: Shares in stock | ||
Other miscellaneous income | 1,287,629.38 | 1,287,629.38 |
Special reserves | ||
Surplus reserve | 159,805,930.34 | 159,805,930.34 |
Undistributed profit | 1,229,094,468.97 | 1,236,002,518.79 |
Total of owners’ equity | 2,513,933,053.21 | 2,520,841,103.03 |
Total of liabilities and owner’s interest | 3,858,690,768.56 | 3,591,226,672.71 |
3. Consolidated Income Statement
In RMB
Item | Amount occurred in the current period | Occurred in previous period |
1. Total revenue | 413,826,888.79 | 670,452,093.70 |
Incl. Business income | 413,826,888.79 | 670,452,093.70 |
Interest income | ||
Insurance fee earned | ||
Fee and commission received | ||
2. Total business cost | 394,659,366.67 | 590,046,791.08 |
Incl. Business cost | 314,413,603.27 | 467,237,374.40 |
Interest expense | ||
Fee and commission paid | ||
Insurance discharge payment | ||
Net claim amount paid | ||
Net insurance policy responsibility reserves provided | ||
Insurance policy dividend paid | ||
Reinsurance expenses | ||
Taxes and surcharges | 3,390,682.90 | 33,241,693.55 |
Sales expense | 8,076,166.66 | 12,854,606.25 |
Administrative expense | 31,000,994.73 | 48,521,803.12 |
R&D cost | 14,980,824.81 | 4,150,525.60 |
Financial expenses | 22,797,094.30 | 24,040,788.16 |
Including: interest cost | 22,193,016.28 | 18,523,514.10 |
Interest income | 2,199,503.22 | 1,220,042.73 |
Add: other gains | 1,234,219.99 | 2,764,802.92 |
Investment gains (“-” for loss) | 241,358.65 | 2,241,105.98 |
Incl. Investment gains from affiliates and joint ventures | -168,943.59 | -530,564.20 |
Financial assets derecognised as a result of amortized cost | ||
Exchange gains ("-" for loss) |
Net open hedge gains (“-” for loss) | ||
Gains from change of fair value (“-“ for loss) | 4,128.92 | |
Credit impairment ("-" for loss) | 93,078,793.56 | 3,514,366.55 |
Investment impairment loss ("-" for loss) | ||
Investment gains ("-" for loss) | -18,130.72 | |
3. Operational profit ("-" for loss) | 113,726,023.24 | 88,907,447.35 |
Plus: non-operational income | 106,391.56 | 875,385.81 |
Less: non-operational expenditure | 3,026,114.28 | 271,123.59 |
4. Gross profit ("-" for loss) | 110,806,300.52 | 89,511,709.57 |
Less: Income tax expenses | 16,037,544.87 | 19,513,176.48 |
5. Net profit ("-" for net loss) | 94,768,755.65 | 69,998,533.09 |
(1) By operating consistency | ||
1. Net profit from continuous operation ("-" for net loss) | 94,768,755.65 | 69,998,533.09 |
2. Net profit from discontinuous operation ("-" for net loss) | ||
(2) By ownership | ||
1. Net profit attributable to the owners of parent company | 94,777,419.75 | 69,998,533.09 |
2. Minor shareholders’ equity | -8,664.10 | |
6. After-tax net amount of other misc. incomes | -13,049,080.39 | 836,382.73 |
After-tax net amount of other misc. incomes attributed to parent's owner | -13,049,080.39 | 836,382.73 |
(1) Other misc. incomes that cannot be re-classified into gain and loss | ||
1. Re-measure the change in the defined benefit plan | ||
2. Other comprehensive income that cannot be transferred to profit or loss under the equity method | ||
3. Fair value change of investment in other equity tools |
4. Fair value change of the company's credit risk | ||
5. Others | ||
(2) Other misc. incomes that will be re-classified into gain and loss | -13,049,080.39 | 836,382.73 |
1. Other comprehensive income that can be transferred to profit or loss under the equity method | ||
2. Fair value change of other debt investment | ||
3. Gains and losses from changes in fair value of available-for-sale financial assets | ||
4. Other credit investment credit impairment provisions | ||
5. Cash flow hedge reserve | -12,650,960.02 | 1,029,625.00 |
6.外币财务报表折算差额 | -398,120.37 | -193,242.27 |
7.其他 | ||
After-tax net of other misc. income attributed to minority shareholders | ||
7. Total of misc. incomes | 81,719,675.26 | 70,834,915.82 |
Total of misc. incomes attributable to the owners of the parent company | 81,728,339.36 | 70,834,915.82 |
Total misc gains attributable to the minor shareholders | -8,664.10 | |
8. Earnings per share: | ||
(1) Basic earnings per share | 0.08 | 0.06 |
(2) Diluted earnings per share | 0.08 | 0.06 |
Net profit contributed by entities merged under common control in the report period was RMB0.00, net profit realized by partiesmerged during the previous period is RMB0.00.Legal representative: Xiong Jianming CFO: Lin Kebing Accounting Manager: Wu Bohua
4. Income Statement of the Parent Company
In RMB
Item | Amount occurred in the current period | Occurred in previous period |
1. Turnover | 6,518,715.41 | 9,808,576.55 |
Less: Operation cost | 38,161.28 | 2,950,845.09 |
Taxes and surcharges | 320,625.81 | 323,222.03 |
Sales expense | ||
Administrative expense | 6,007,355.43 | 6,952,633.68 |
R&D cost | ||
Financial expenses | 9,528,622.34 | 8,008,968.34 |
Including: interest cost | 10,094,338.89 | 6,297,956.94 |
Interest income | 571,446.30 | 241,185.83 |
Add: other gains | 70,235.05 | 200,000.00 |
Investment gains (“-” for loss) | 125,658.72 | 982,583.57 |
Incl. Investment gains from affiliates and joint ventures | ||
Financial assets derecognised as a result of amortized cost ("-" for loss) | ||
Net open hedge gains (“-” for loss) | ||
Gains from change of fair value (“-“ for loss) | ||
Credit impairment ("-" for loss) | -6,241.41 | 4,480.08 |
Investment impairment loss ("-" for loss) | ||
Investment gains ("-" for loss) | ||
2. Operational profit (“-” for loss) | -9,186,397.09 | -7,240,028.94 |
Plus: non-operational income | 8,947.57 | |
Less: non-operational expenditure | 6,388.64 | |
4. Gross profit ("-" for loss) | -9,186,397.09 | -7,237,470.01 |
Less: Income tax expenses | -2,278,347.27 | -1,789,154.52 |
4. Net profit (“-” for net loss) | -6,908,049.82 | -5,448,315.49 |
(1) Net profit from continuous operation ("-" for net loss) | -6,908,049.82 | -5,448,315.49 |
(2) Net profit from discontinuous operation ("-" for net loss) | ||
5. After-tax net amount of other misc. incomes |
(1) Other misc. incomes that cannot be re-classified into gain and loss | ||
1. Re-measure the change in the defined benefit plan | ||
2. Other comprehensive income that cannot be transferred to profit or loss under the equity method | ||
3. Fair value change of investment in other equity tools | ||
4. Fair value change of the company's credit risk | ||
5. Others | ||
(2) Other misc. incomes that will be re-classified into gain and loss | ||
1. Other comprehensive income that can be transferred to profit or loss under the equity method | ||
2. Fair value change of other debt investment | ||
3. Gains and losses from changes in fair value of available-for-sale financial assets | ||
4. Other credit investment credit impairment provisions | ||
5. Cash flow hedge reserve | ||
6. Translation difference of foreign exchange statement | ||
7. Others | ||
6. Total of misc. incomes | -6,908,049.82 | -5,448,315.49 |
7. Earnings per share: | ||
(1) Basic earnings per share | ||
(2) Diluted earnings per share |
5. Consolidated Cash Flow Statement
In RMB
Item | Amount occurred in the current period | Occurred in previous period |
1. Net cash flow from business operations: | ||
Cash received from sales of products and providing of services | 552,621,802.47 | 598,615,290.91 |
Net increase of customer deposits and capital kept for brother company | ||
Net increase of loans from central bank | ||
Net increase of inter-bank loans from other financial bodies | ||
Cash received against original insurance contract | ||
Net cash received from reinsurance business | ||
Net increase of client deposit and investment | ||
Cash received as interest, processing fee, and commission | ||
Net increase of inter-bank fund received | ||
Net increase of repurchasing business | ||
Net cash received from trading securities | ||
Tax refunded | 1,811,320.46 | 901,931.07 |
Other cash received from business operation | 72,333,751.51 | 21,534,849.71 |
Sub-total of cash inflow from business operations | 626,766,874.44 | 621,052,071.69 |
Cash paid for purchasing products and services | 606,808,963.41 | 557,177,871.33 |
Net increase of client trade and advance | ||
Net increase of savings in central bank and brother company | ||
Cash paid for original contract claim | ||
Net increase in funds dismantled |
Cash paid for interest, processing fee and commission | ||
Cash paid for policy dividend | ||
Cash paid to and for the staff | 99,253,547.69 | 92,365,794.06 |
Taxes paid | 31,853,052.06 | 70,963,606.86 |
Other cash paid for business activities | 227,956,358.27 | 196,782,535.40 |
Sub-total of cash outflow from business operations | 965,871,921.43 | 917,289,807.65 |
Cash flow generated by business operations, net | -339,105,046.99 | -296,237,735.96 |
2. Cash flow generated by investment: | ||
Cash received from investment recovery | 1,344,500,000.00 | 973,200,000.00 |
Cash received as investment profit | 8,789,161.18 | 2,771,670.18 |
Net cash retrieved from disposal of fixed assets, intangible assets, and other long-term assets | 13,225,019.48 | |
Net cash received from disposal of subsidiaries or other operational units | ||
Other investment-related cash received | 250.00 | |
Sub-total of cash inflow generated from investment | 1,353,289,411.18 | 989,196,689.66 |
Cash paid for construction of fixed assets, intangible assets and other long-term assets | 59,588,664.45 | 49,192,556.62 |
Cash paid as investment | 1,196,460,000.00 | 1,193,400,000.00 |
Net increase of loan against pledge | ||
Net cash paid for acquiring subsidiaries and other operational units | ||
Other cash paid for investment | ||
Subtotal of cash outflows | 1,256,048,664.45 | 1,242,592,556.62 |
Cash flow generated by investment activities, net | 97,240,746.73 | -253,395,866.96 |
3. Cash flow generated by financing activities: | ||
Cash received from investment |
Incl. Cash received from investment attracted by subsidiaries from minority shareholders | ||
Cash received from borrowed loans | 1,725,388,124.18 | 600,000,000.00 |
Other cash received from financing activities | 39,406.61 | |
Subtotal of cash inflow from financing activities | 1,725,388,124.18 | 600,039,406.61 |
Cash paid to repay debts | 1,403,978,153.39 | 58,000,000.00 |
Cash paid as dividend, profit, or interests | 24,999,493.27 | 249,442,954.36 |
Including: dividends and profits paid by subsidiaries to minority shareholders | ||
Other cash paid for financing activities | ||
Subtotal of cash outflow from financing activities | 1,428,977,646.66 | 307,442,954.36 |
Net cash flow generated by financing activities | 296,410,477.52 | 292,596,452.25 |
4. Influence of exchange rate changes on cash and cash equivalents | 467,765.09 | -844,162.82 |
5. Net increase in cash and cash equivalents | 55,013,942.35 | -257,881,313.49 |
Plus: Balance of cash and cash equivalents at the beginning of term | 725,269,902.90 | 956,190,890.68 |
6. Balance of cash and cash equivalents at the end of the period | 780,283,845.25 | 698,309,577.19 |
6. Cash Flow Statement of the Parent Company
In RMB
Item | Amount occurred in the current period | Occurred in previous period |
1. Net cash flow from business operations: | ||
Cash received from sales of products and providing of services | 3,513,156.36 | 7,829,887.29 |
Tax refunded |
Other cash received from business operation | 2,136,488,278.30 | 857,398,618.28 |
Sub-total of cash inflow from business operations | 2,140,001,434.66 | 865,228,505.57 |
Cash paid for purchasing products and services | 29,756.47 | 1,486,439.86 |
Cash paid to and for the staff | 6,328,845.37 | 5,580,350.62 |
Taxes paid | 399,458.88 | 802,896.19 |
Other cash paid for business activities | 1,707,124,112.24 | 863,556,002.15 |
Sub-total of cash outflow from business operations | 1,713,882,172.96 | 871,425,688.82 |
Cash flow generated by business operations, net | 426,119,261.70 | -6,197,183.25 |
2. Cash flow generated by investment: | ||
Cash received from investment recovery | 364,500,000.00 | 518,000,000.00 |
Cash received as investment profit | 125,658.72 | 982,583.57 |
Net cash retrieved from disposal of fixed assets, intangible assets, and other long-term assets | ||
Net cash received from disposal of subsidiaries or other operational units | ||
Other investment-related cash received | ||
Sub-total of cash inflow generated from investment | 364,625,658.72 | 518,982,583.57 |
Cash paid for construction of fixed assets, intangible assets and other long-term assets | 6,250.00 | 18,000.00 |
Cash paid as investment | 364,500,000.00 | 518,000,000.00 |
Net cash paid for acquiring subsidiaries and other operational units | ||
Other cash paid for investment | ||
Subtotal of cash outflows | 364,506,250.00 | 518,018,000.00 |
Cash flow generated by investment activities, net | 119,408.72 | 964,583.57 |
3. Cash flow generated by financing activities: | ||
Cash received from investment | ||
Cash received from borrowed loans | 200,000,000.00 | 400,000,000.00 |
Other cash received from financing activities | 39,406.61 | |
Subtotal of cash inflow from financing activities | 200,000,000.00 | 400,039,406.61 |
Cash paid to repay debts | 510,000,000.00 | |
Cash paid as dividend, profit, or interests | 10,580,009.03 | 230,221,221.83 |
Other cash paid for financing activities | ||
Subtotal of cash outflow from financing activities | 520,580,009.03 | 230,221,221.83 |
Net cash flow generated by financing activities | -320,580,009.03 | 169,818,184.78 |
4. Influence of exchange rate changes on cash and cash equivalents | 576.24 | |
5. Net increase in cash and cash equivalents | 105,658,661.39 | 164,586,161.34 |
Plus: Balance of cash and cash equivalents at the beginning of term | 175,341,953.63 | 281,594,621.80 |
6. Balance of cash and cash equivalents at the end of the period | 281,000,615.02 | 446,180,783.14 |
II. Financial Statement Adjustment
1. The first implementation of the new financial instruments guidelines, new income standards, new leasestandards, adjustments the first implementation of the financial statements at the beginning of the year
√ Applicable □ Inapplicable
Consolidated Balance Sheet
In RMB
Item | 31 December 2019 | 01/01/2020 | Adjustment |
Current asset: | |||
Monetary capital | 1,209,811,978.95 | 1,209,811,978.95 | |
Settlement provision |
Outgoing call loan | |||
Transactional financial assets | 10,330,062.18 | 10,330,062.18 | |
Derivative financial assets | |||
Notes receivable | 305,070,930.97 | 305,070,930.97 | |
Account receivable | 1,956,191,307.07 | 486,113,221.52 | -1,470,078,085.55 |
Receivable financing | 2,954,029.00 | 2,954,029.00 | |
Prepayment | 21,327,109.18 | 21,327,109.18 | |
Insurance receivable | |||
Reinsurance receivable | |||
Provisions of Reinsurance contracts receivable | |||
Other receivables | 139,947,655.35 | 139,947,655.35 | |
Including: interest receivable | |||
Dividend receivable | |||
Repurchasing of financial assets | |||
Inventory | 733,711,143.46 | ||
Contract assets | 1,470,078,085.55 | 1,470,078,085.55 | |
Assets held for sales | |||
Non-current assets due in 1 year | |||
Other current assets | 323,765,585.90 | 323,765,585.90 | |
Total current assets | 4,703,109,802.06 | 4,703,109,802.06 | |
Non-current assets: | |||
Loan and advancement provided | |||
Debt investment | |||
Other debt investment | |||
Long-term receivables | |||
Long-term share equity investment | 57,222,240.83 | 57,222,240.83 |
Investment in other equity tools | 20,660,181.44 | 20,660,181.44 | |
Other non-current financial assets | 5,009,728.02 | 5,009,728.02 | |
Investment real estate | 5,522,391,984.11 | 5,522,391,984.11 | |
Fixed assets | 477,332,830.92 | 477,332,830.92 | |
Construction in process | 129,988,982.86 | 129,988,982.86 | |
Productive biological assets | |||
Gas & petrol | |||
Use right assets | |||
Intangible assets | 78,322,265.05 | 78,322,265.05 | |
R&D expense | |||
Goodwill | |||
Long-term amortizable expenses | 3,875,198.12 | 3,875,198.12 | |
Deferred income tax assets | 343,349,564.70 | 343,349,564.70 | |
Other non-current assets | 28,701,802.00 | 28,701,802.00 | |
Total of non-current assets | 6,666,854,778.05 | 6,666,854,778.05 | |
Total of assets | 11,369,964,580.11 | 11,369,964,580.11 | |
Current liabilities | |||
Short-term loans | 724,618,197.34 | 724,618,197.34 | |
Loans from Central Bank | |||
Call loan received | |||
Transactional financial liabilities | |||
Derivative financial liabilities | 96,767.62 | 96,767.62 | |
Notes payable | 578,816,027.44 | 578,816,027.44 | |
Account payable | 1,190,773,300.24 | 1,190,773,300.24 | |
Prepayment received | 136,340,104.73 | 1,332,457.45 | -135,007,647.28 |
Contract liabilities | 123,981,276.51 | 123,981,276.51 | |
Selling of repurchased financial assets |
Deposit received and held for others | |||
Entrusted trading of securities | |||
Entrusted selling of securities | |||
Employees' wage payable | 55,847,134.20 | 55,847,134.20 | |
Taxes payable | 17,848,987.68 | 17,848,987.68 | |
Other payables | 701,432,408.28 | 701,432,408.28 | |
Including: interest payable | |||
Dividend payable | |||
Fees and commissions payable | |||
Reinsurance fee payable | |||
Liabilities held for sales | |||
Non-current liabilities due in 1 year | 922,346,563.72 | 922,346,563.72 | |
Other current liabilities | 181,694,574.47 | 192,720,945.24 | 11,026,370.77 |
Total current liabilities | 4,509,814,065.72 | ||
Non-current liabilities: | |||
Insurance contract provision | |||
Long-term loans | 546,501,491.56 | 546,501,491.56 | |
Bond payable | |||
Including: preferred stock | |||
Perpetual bond | |||
Lease liabilities | |||
Long-term payable | |||
Long-term employees’ wage payable | |||
Anticipated liabilities | 7,793,527.16 | 7,793,527.16 | |
Deferred earning | 10,817,247.40 | 10,817,247.40 |
Deferred income tax liabilities | 1,063,833,159.00 | 1,063,833,159.00 | |
Other non-current liabilities | |||
Total of non-current liabilities | 1,628,945,425.12 | 1,628,945,425.12 | |
Total liabilities | 6,138,759,490.84 | 6,138,759,490.84 | |
Owner’s equity: | |||
Share capital | 1,123,384,189.00 | 1,123,384,189.00 | |
Other equity instruments | |||
Including: preferred stock | |||
Perpetual bond | |||
Capital reserves | 1,454,191.59 | 1,454,191.59 | |
Less: Shares in stock | |||
Other miscellaneous income | -475,409.25 | -475,409.25 | |
Special reserves | |||
Surplus reserve | 159,805,930.34 | 159,805,930.34 | |
Common risk provisions | |||
Undistributed profit | 3,898,626,177.99 | 3,898,626,177.99 | |
Total of owner’s equity belong to the parent company | 5,182,795,079.67 | 5,182,795,079.67 | |
Minor shareholders’ equity | 48,410,009.60 | 48,410,009.60 | |
Total of owners’ equity | 5,231,205,089.27 | 5,231,205,089.27 | |
Total of liabilities and owner’s interest | 11,369,964,580.11 | 11,369,964,580.11 |
About the adjustmentBalance Sheet of the Parent Company
In RMB
Item | 31 December 2019 | 01/01/2020 | Adjustment |
Current asset: | |||
Monetary capital | 175,591,953.63 | 175,591,953.63 | |
Transactional financial assets |
Derivative financial assets | |||
Notes receivable | |||
Account receivable | 297,813.76 | 297,813.76 | |
Receivable financing | |||
Prepayment | 250,205.32 | 250,205.32 | |
Other receivables | 1,973,381,342.74 | 1,973,381,342.74 | |
Including: interest receivable | |||
Dividend receivable | |||
Inventory | |||
Contract assets | |||
Assets held for sales | |||
Non-current assets due in 1 year | |||
Other current assets | 877,430.41 | 877,430.41 | |
Total current assets | 2,150,398,745.86 | 2,150,398,745.86 | |
Non-current assets: | |||
Debt investment | |||
Other debt investment | |||
Long-term receivables | |||
Long-term share equity investment | 963,508,253.00 | 963,508,253.00 | |
Investment in other equity tools | 18,604,010.22 | 18,604,010.22 | |
Other non-current financial assets | 48,831,242.35 | 48,831,242.35 | |
Investment real estate | 295,355,002.00 | 295,355,002.00 | |
Fixed assets | 67,361,529.52 | 67,361,529.52 | |
Construction in process | |||
Productive biological assets | |||
Gas & petrol | |||
Use right assets | |||
Intangible assets | 1,824,589.22 | 1,824,589.22 |
R&D expense | |||
Goodwill | |||
Long-term amortizable expenses | 934,669.73 | 934,669.73 | |
Deferred income tax assets | 44,408,630.81 | 44,408,630.81 | |
Other non-current assets | |||
Total of non-current assets | 1,440,827,926.85 | 1,440,827,926.85 | |
Total of assets | 3,591,226,672.71 | 3,591,226,672.71 | |
Current liabilities | |||
Short-term loans | 300,442,988.19 | 300,442,988.19 | |
Transactional financial liabilities | |||
Derivative financial liabilities | |||
Notes payable | |||
Account payable | 606,941.85 | 606,941.85 | |
Prepayment received | 746,761.55 | 746,761.55 | |
Contract liabilities | |||
Employees' wage payable | 3,215,013.16 | 3,215,013.16 | |
Taxes payable | 312,647.89 | 312,647.89 | |
Other payables | 109,837,934.17 | 109,837,934.17 | |
Including: interest payable | |||
Dividend payable | |||
Liabilities held for sales | |||
Non-current liabilities due in 1 year | 520,872,206.95 | 520,872,206.95 | |
Other current liabilities | |||
Total current liabilities | 936,034,493.76 | 936,034,493.76 | |
Non-current liabilities: | |||
Long-term loans | 70,000,000.00 | 70,000,000.00 | |
Bond payable |
Including: preferred stock | |||
Perpetual bond | |||
Lease liabilities | |||
Long-term payable | |||
Long-term employees’ wage payable | |||
Anticipated liabilities | |||
Deferred earning | |||
Deferred income tax liabilities | 64,351,075.92 | 64,351,075.92 | |
Other non-current liabilities | |||
Total of non-current liabilities | 134,351,075.92 | 134,351,075.92 | |
Total liabilities | 1,070,385,569.68 | 1,070,385,569.68 | |
Owner’s equity: | |||
Share capital | 1,123,384,189.00 | 1,123,384,189.00 | |
Other equity instruments | |||
Including: preferred stock | |||
Perpetual bond | |||
Capital reserves | 360,835.52 | 360,835.52 | |
Less: Shares in stock | |||
Other miscellaneous income | 1,287,629.38 | 1,287,629.38 | |
Special reserves | |||
Surplus reserve | 159,805,930.34 | 159,805,930.34 | |
Undistributed profit | 1,236,002,518.79 | 1,236,002,518.79 | |
Total of owners’ equity | 2,520,841,103.03 | 2,520,841,103.03 | |
Total of liabilities and owner’s interest | 3,591,226,672.71 | 3,591,226,672.71 |
About the adjustmentAs of January 1, 2020, the Company has implemented new revenue guidelines, listed the assigned goods or services entitled toreceive consideration as contractual assets, and has been recognized as accounts receivable upon acquisition of unconditional
collection rights; The non-leased portion of the advances is included in the contractual liability and the tax portion is included in theother current liabilities.
2. Description of the 2020 first implementation of the new Income criteria, new lease standard retrospectiveadjustment of the previous period comparison data
□ Applicable √ Inapplicable
3. Auditor’s Report
Whether the Q1 report is audited
□ Yes √ No
The Q2 Report is not audited.