Lu Thai Textile Co., Ltd. Third Quarter Report 2019
LU THAI TEXTILE CO., LTD.THIRD QUARTER REPORT 2019
October 2019
Lu Thai Textile Co., Ltd. Third Quarter Report 2019
Part I Important NotesThe Board of Directors (or the “Board”), the Supervisory Committee as well as the directors,supervisors and senior management of Lu Thai Textile Co., Ltd. (together with itsconsolidated subsidiaries, the “Company”, except where the context otherwise requires)hereby guarantee the factuality, accuracy and completeness of the contents of this Report andits summary, and shall be jointly and severally liable for any misrepresentations, misleadingstatements or material omissions therein.All the Company’s directors have attended the Board meeting for the review of this Reportand its summary.Liu Zibin, the Company’s legal representative, Zhang Hongmei, the Company’s ChiefAccountant, and Zhang Keming, the Company’s Financial Manager hereby guarantee thatthe financial statements carried in this Report are factual, accurate and complete.This Report and its summary have been prepared in both Chinese and English. Should therebe any discrepancies or misunderstandings between the two versions, the Chinese versionsshall prevail.
Lu Thai Textile Co., Ltd. Third Quarter Report 2019
Part II Key Corporate InformationI Key Consolidated Financial InformationIndicate by tick mark whether there is any retrospectively restated datum in the table below.
□ Yes √ No
30 September 2019 31 December 2018 Change (%)Total assets (RMB) 11,348,273,338.95
10,537,759,811.84
7.69%
| Equity attributable to the listed company’s |
shareholders (RMB)
7,351,503,162.46
7,146,548,467.86
2.87%
Q3 2019 YoY change (%) Q1-Q3 2019 YoY change (%)Operating revenue (RMB) 1,626,165,317.03
-6.71%
4,811,613,661.04
-4.22%
Net profit attributable to
shareholders (RMB)
176,453,154.53
| the listed company’s |
-15.79%
587,899,371.12
0.17%
Net profit attributable to
| the listed company’s |
shareholders before exceptional items (RMB)
172,442,753.62
-23.06%
549,259,289.55
-6.99%
| Net cash generated from/used in operating activities |
(RMB)
-- -- 481,803,616.13
-57.10%
Basic earnings per share (RMB/share) 0.20
-13.04%
0.68
6.25%
Diluted earnings per share (RMB/share) 0.20
-13.04%
0.68
6.25%
Weighted average return on equity (%) 2.44%
-0.51%
8.14%
0.06%
Exceptional gains and losses:
√ Applicable □ Not applicable
Unit: RMBItem Q1-Q3 2019 NoteGain or loss on disposal of non-current assets (inclusive of impairment allowance write-offs) -510,901.65
| Government subsidies charged to current profit or loss (exclusive of government subsidies given in the Company’s ordinary course of business at fixed quotas or amounts as per |
government’s uniform standards)
35,960,594.57
| Gain/Loss on changes in fair value arising from holding of trading financial assets and liabilities, derivative financial assets and liabilities and investment income from disposal of |
trading financial assets and liabilities, derivative financial assets an
normal operating businesses
19,090,653.31
| d liabilities and other investments in debt obligation other than effective hedge business related to the Company’s |
Non-operating income and expense other than above -5,090,217.43
Less: Income tax effects 7,880,401.60
Lu Thai Textile Co., Ltd. Third Quarter Report 2019
Non-controlling interests effects (net of tax) 2,929,645.63
Total 38,640,081.57
--Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item defined or listed in the ExplanatoryAnnouncement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Gain/LossItems:
□ Applicable √ Not applicable
No such cases for the Reporting Period.II Total Number of Shareholders and Holdings of Top 10 Shareholders at 30 September 2019
1. Numbers of Ordinary Shareholders and Preferred Shareholders with Resumed Voting Rights as well as
Holdings of Top 10 Shareholders
Unit: shareNumber of ordinary shareholders 56,184
Number of preferred shareholders with res
| umed |
voting rights (if any)
Top 10 shareholdersName of shareholder Nature of shareholder
Shareholdin
g percentage
Number of shares
| g percentage |
Restrictedshares
Shares in pledge or
frozenStatus Shares
| Zibo Lucheng Textile Investment Co., |
Ltd.
Domesticnon-state-
person
| owned legal | 16.36% |
140,353,583
Tailun (Thailand) Textile Co., Ltd. Foreign legal person
118,232,400
| 13.78% |
118,232,400
Hong Kong Securities Clearing Co. Ltd Foreign legal person 3.03%
25,984,811
| Central Huijin Assets Management Co., |
Ltd.
State-owned legal
person
2.37%
20,315,300
T.ROWE PRICE INTL DISCOVERYFUND
Foreign legal person
2.32%
19,948,219
China Securities Finance CorporationLimited
Domesticnon-state-
person
2.13%
| owned legal |
18,313,391
Hong Kong MonetaryAuthority-Self-owned Fund
Foreign legal person
2.04%
17,487,884
National Social Security Fund Portfolio
Other
1.40%
11,999,897
| National Social Security Fund |
Portfolio 413
Other 0.95%
8,190,051
ASSICURAZIONIOther
0.76%
6,558,889
Lu Thai Textile Co., Ltd. Third Quarter Report 2019
GENERALI-DIVIDEND 2
Top 10 unrestricted shareholdersName of shareholder
shares
Shares by typeType SharesZibo Lucheng Textile Investment Co., Ltd. 140,353,583
| Unrestricted |
RMB-denominated ordinary stock
140,353,583
Hong Kong Securities Clearing Co. Ltd 25,984,811
RMB-denominated ordinary stock
25,984,811
Central Huijin Assets Management Co., Ltd. 20,315,300
RMB-denominated ordinary stock
20,315,300
T.ROWE PRICE INTL DISCOVERY FUND 19,948,219
Domestically listed foreign stock 19,948,219
China Securities Finance Corporation Limited 18,313,391
RMB-denominated ordinary stock
18,313,391
Hong Kong Monetary Authority-Self-owned Fund 17,487,884
RMB-denominated ordinary stock
17,487,884
National Social Security Fund Portfolio 103 11,999,897
RMB-denominated ordinary stock
11,999,897
National Social Security Fund Portfolio 413 8,190,051
RMB-denominated ordinary stock
8,190,051
ASSICURAZIONI GENERALI-DIVIDEND 2 6,558,889
RMB-denominated ordinary stock
6,558,889
RBC EMERGING MARKETS SMALL CAP EQUITY FUND 6,181,462
Domestically listed foreign stock 6,181,462
Related or acting-in-concert parties among shareholders above
| Zibo Lucheng Textile Investment Co., Ltd. is the largest shareholder and the actual controller of the Company. Tailun (Thailand) Textile Co., Ltd. is the second largest shareholder and the foreign sponsor of | ||
the Company. All the other shareholders are hold
A-shares or B-shares.
| And it is unknown whether there is any related |
party or acting-in-concert party among them.
trading (if any)
NaughtIndicate by tick mark whether any of the top 10 ordinary shareholders or the top 10 unrestricted ordinary shareholders of theCompany conducted any promissory repo during the Reporting Period.
□ Yes √ No
No such cases in the Reporting Period.
2. Number of Preferred Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
Part III Significant Events
I Changes in Key Financial Statement Line Items and Explanation of why
√ Applicable □ Not applicable
Item
30 September2019
31 December2018
Change Reason for changePrepayments 196,906,160.26 149,582,616.21 31.64%
Increase in prepayments for agricultural meansof production in the Reporting PeriodCurrent portion ofnon-current assets
52,256,130.79 - 100.00%
Reporting PeriodInvestment property 38,266,359.35 22,880,242.95 67.25%
| Purchase of trust financial products in the |
| Transfer of operating leased houses into |
investment property in the Reporting PeriodConstruction inprogress
502,791,371.42 337,230,646.42 49.09%
Increase in inputs in Yarn Dye II Project of Lu
Thai (Vietnam) and equipmentShort-term borrowings 2,117,741,665.40
1,325,273,780.0
59.80%
Reporting PeriodNotes payable 22,125,109.37 502,347.05 4304.35%
Increase in bank’s acceptance bills opened for
payments of materials in the Reporting PeriodAccounts payable 229,909,541.78 353,186,163.90 -34.90%
Payments for raw materials and equipment in the
Reporting PeriodCurrent portion ofnon-current liabilities
111,331,864.72 - 100.00%
Increase in current portion of long-term
borrowingsLong-term borrowings 18,961,030.32 170,019,083.89 -88.85%
Reclassification of current portion of long-term
borrowings into current portion of non-current
liabilitiesCapital reserve 256,632,428.28 699,493,647.48 -63.31%
Increase in borrowings from banks in theCapital stock premium from repurchased
B-shares cancelled in the Reporting PeriodTreasury stock - 486,922,944.94 -100.00%
Cancellation of repurchased B-
| Capital stock premium from repurchased |
| shares in the |
Reporting PeriodOther comprehensiveincome
111,894,866.80 61,157,013.37 82.96%
Increase in differences
translation of foreign currency-denominated
financial statements in the Reporting PeriodItem Q1~Q3 2019 Q1~Q3 2018 Change Reason for change
Finance cost 61,156,464.30 37,733,821.10 62.07%
arising from theIncrease in interest expense in the Reporting
PeriodInvestment income 16,777,341.81 -18,388,041.25 191.24%
| Increase in interest expense in the Reporting |
| Increase in income from investments in |
enterprises in the Reporting PeriodGain on changes in fairvalue
5,638,067.04 -44,112,150.00 112.78%
| derivative financial instruments and associated |
| Losses on changes in fair value of |
fails-to-delivery derivative financial instruments
of the same period of last yearAsset disposal income 162,416.20 23,233,253.44 -99.30%
Recognition of disposal income from demolition
by Xinjiang Lu Thai in the same period of last
yearNon-operating expense 9,785,667.21 3,623,862.73 170.03%
Payments for relief donations in the Reporting
Period
Net cash generatedfrom/used in operatingactivities
481,803,616.13
1,123,152,616.7
-57.10%
operating activities: 1. YoY increase of RMB331
million in cash paid for purchase of commodities
and acceptance of labor services, which driven
| by increase in payments for cotton; 2. YoY decrease of RMB222 million in cash received |
from sales of commodities and providing of labor
productsNet cash generatedfrom/used in financingactivities
212,302,378.28 -288,801,161.03 173.51%
YoY decrease in payments for B-share
repurchase and YoY increase in cash received
| services, which driven by decline in sales of |
| from obtaining borrowings in the Reporting |
Period
II Progress, Influence and Solutions with regard to Significant Events
√ Applicable □ Not applicable
The 28
th
Meeting of the 8
thBoard of Directors reviewed and approved ten proposals on 23 May 2019, including the Proposal ofMeeting the Conditions for Public Issuance of A-share Convertible Corporate Bonds, the Proposal of Plan on Public Issuance ofA-share Convertible Corporate Bonds and the Proposal of Preplan on Public Issuance of A-share Convertible Corporate Bonds. Fordetails, please refer to the announcement (announcement No.: 2019-039) disclosed onwww.cninfo.com.cn on 24 May 2019. The 3
rd
Extraordinary General Meeting of 2019 reviewed and approved ten proposals on 16 September 2019, including the Proposal ofMeeting the Conditions for Public Issuance of A-share Convertible Corporate Bonds, the Proposal of Plan on Public Issuance ofA-share Convertible Corporate Bonds, the Proposal of Preplan on Public Issuance of A-share Convertible Corporate Bonds and theProposal of Change in Audit Institution. For details, please refer to the announcement (announcement No.: 2019-059) disclosed on
www.cninfo.com.cn on 17 September 2019. The Company received the Acceptance Form on Application for CSRC Administrative
License issued by CSRC (No. 192620) on 15 October 2019. For details, please refer to the relevant announcement (announcementNo.: 2019-064) disclosed onwww.cninfo.com.cn on 16 October 2019.Overview of significant events Disclosure date Announcement indexThe progress of relevant matters for publicissuance of A-share Convertible Corporate
24 May 2019 Announcements on www.cninfo.com.cn17 September 2019 Announcements on www.cninfo.com.cn
Bonds
15 October 2019 Announcements on www.cninfo.com.cnProgress of any share repurchase:
□ Applicable √ Not applicable
Progress of any reduction of the repurchased shares through centralized bidding:
□ Applicable √ Not applicable
III Commitments that the Company’s Actual Controller, Shareholders, Related Parties,Acquirers, the Company Itself or Other Parties, Failed to Fulfill on Time during theReporting Period
□ Applicable √ Not applicable
No such cases in the Reporting Period.IV Securities Investments
□ Applicable √ Not applicable
No such cases in the Reporting Period.
V Wealth Management Entrustment
√ Applicable □ Not applicable
Unit: RMB'0,000Type of wealth
management
Funding source Principal
Outstanding amount
before maturity
Overdue amountOther Self-funded 0
3,000
Trust finance products Self-funded 5,000
5,000
Total 5,000
8,000
High-risk wealth management entrustments with amounts that are individually significant, or with low security, low liquidity, or noprotection of the principal:
√ Applicable □ Not applicable
Unit: RMB’0,000
Trustee
Type oftrustee
Type ofwealthmanage
mentproduct
Princi
pal
Fundin
gsource
Startdate
Enddate
Investmentwithprinci
pal
Way ofpayback
Refere
nceannual
izedreturn
(%)
Expectedreturn
(ifany)
| Actual |
gain/loss inReport
ing
Collection/paym
ent of
| Period | gain/loss |
inReportin
Impairmentallowa
| g Period | nce (if |
any)
Throu
ghprescri
bedprocedure or
not
Anyplan forfurtherentrustm
ent
Overvie
w and
| index to |
moreinformation (if
any)GopherAssetManagemen
Fundcorporation
Fixed-income
3,000
Self-funded
December
December
Granting oftrust
Annualpaymentof
8.50%
250.32
N/A
Yes
Temporarily no
t Co., Ltd 2017 2019 loans
toHOMECREDIT
interestsandpaymentofprincipaluponmaturity
Avic trustco. LTD
Trustcompany
Fixed-income
5,000
Self-funded
| March |
2019
2020
Investmenttrustassets
Paymentofprincipalandinterestuponmaturity
8.00%
| March |
N/A
Yes
Temporarily no
Total 8,000
-- -- -- -- -- -- 655
250.32
--
-- -- --Wealth management entrustments with possible impairments including an expectedly unrecoverable principal:
□ Applicable √ Not applicable
VI Investments in Derivative Financial Instruments
√ Applicable □ Not applicable
Unit: RMB’0,000
Counterparty
Relation
ship
with the
Compan
y
Related-part
ytransac
not
Type
ofderivat
| tion or | ive |
Initialinvestmentamount
Startdate
End date
| Beginning investment | Purchased in |
Reporting
Period
Sold inReporting
Period
Impairmentallowa
any)
Endinginvestme
nt
Ending
as % of
theCompany’
s endingnet assets
Actualgain/lossin
Period
Commercial bank
Non-connected
No
Forwa
rdexchan
gesettlement
98,187.76
| Reporting | ||
19 June2018
November2019
6,512.05
91,675.71
93,944.02
4,243.74
0.53%
776.34
Commercial bank
Non-con
nected
No
Foreignexchangeoption
16,018.76
March2018
30 August2019
1,909.89
14,108.87
16,018.76
40.15
Commercial bank
Non-con
nected
No
Forward
3,049.7
Septemb
10 May2019
1,610.11
1,439.59
3,049.7
50.04
exchangetransactions
er 2018
Total 117,256.22
-- -- 10,032.05
107,224.17
113,012.48
4,243.74
0.53%
866.53
Funding source Self-fundedLegal matters involved (if applicable) N/ADisclosure date of board of directorsannouncement on approval of derivativeinvestment (if any)
27 April 201830 April 2019Disclosure date of general meeting ofshareholders announcement on approval ofderivative investment (if any)
Analysis of risks and control measures associatedwith derivative investments held in Reporting
Period (including but not limited to market risk
| , liquidity risk, credit risk, operational risk, legal |
risk, etc.)
The Company conducted derivatives products tr
derivatives products transactions. And all derivatives products transaction was zero-
| deposit. |
Meanwhile, the
regulation.
1. Market risk: when the international and domestic e
| conomic situations change, the corresponding changes in exchange rates and interest rates may have an adverse impact on the financial derivatives transactions of the Company. Precautionary measures to be taken include: the Company chooses |
risk-controlled f
adjusts the strategy according to market changes in a timely manner.
| 2. Liquidity risk and credit risk: a credit risk arising from failure of the contractually due Company or counterparty in performing the contract due to liquidity or factors other than liquidity. |
Precautionary measures to be taken include: the Company de
derivative trad
| es are free of guarantee deposit and can still be guaranteed in performance after the contract expires by means of extension and balance settlement etc. to prevent the Company from |
credit damages due to lack of liquidity. The Company selects financial inst
strictly control credit risk of the counterparty.
3. Operation risk:
The derivatives had high specialty and complexity, so imperfect i
| nternal operation procedures, staffs and external events would make the Company to undertake risks during the transaction. Risk control measures: The Company promulgated strict authorization and approval system and perfect regulatory |
mechanism, fixed the o
maximum.
4. Risk of laws and regulation:
The Company conducted
| derivatives products transaction in strict accordance with relevant laws and rules. If there were no standard operation procedures and strict approval procedures, it was easy to |
cause compliant and regulatory risks existing in the validity and feasibility
internal control rules for the forward settl
| ement hedging business, standardized the operation procedures. And strengthened the compliant examination on derivative products transaction business. The Company conducted derivative transaction business according to the relevant approval |
procedure, which
the Management Rules for Derivative Transaction of Lu Thai Textile Co., Ltd.,
| and the Proposal on |
the Plan of Lu Thai Textile Co., Ltd. for Derivative Transactions approved at the 17
th
th Board of Directors on 25 April 2018 and the 26
th
Meeting of the 8
thBoard of Directors
| on 29 |
April 2019, and performed relevant information disclosure responsibilities.
derivative
| investments in Reporting Period (fair value analysis should include measurement |
method and related assumptions and parameters)
1. As of 30 September 2019, the Company held financial derivative worth USD6 million
| in totals, |
which was forward settlement of
contract expiration date was 11 November 2019. Financial derivatives occupied 0.53 %
| of the net |
assets as at the period end.
2. In Q1~Q3 2019, the amount of maturing financial derivatives of t
USD165.0969 million which was executed as per the contract in full, which generated an income
| of |
RMB8.6653 million. The delivery amount of forward settlement of exchange
USD137.1132 million which generated an income of RMB7.7634 million; the delivery
| amount of |
foreign exchange options was USD23.5 million which generated an income of RMB0.4015 million
The delivery amount of foreign exchange transaction amounted to USD4.4837 million
| which |
generated an income of RMB0.5004 million.Major
reporting period
No significant changes
| changes in accounting policies and specific accounting principles adopted for derivative investments in Reporting Period compared to last |
| Opinion of independent directors on derivative |
investments and risk control
The Company’s independent directors Zhou Zhiji, Bi Xiuli,
Dongmei concerning conducting derivatives business, have issued the following professional a
| dvice: We are of the opinion that it will strengthen the Company’s competitiveness to use derivative transactions with focus on forward settlement and purchase as an effective tool to avoid foreign |
exchange risks, to strengthen the relevant internal contro
procedure, has sound relevant
| institutions and keeps the risks relatively controllable. No harm has |
been done to the interests of the Company’s shareholders.
VII Communications with the Investment Community such as Researches, Inquiries andInterviews during the Reporting Period
√ Applicable □ Not applicable
Date Way of communication
Type of communication
party
Index to main information
communicated29 March 2019 By phone Individual Basic information of the CompanyVIII Irregularities in the Provision of Guarantees
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IX Occupation of the Company’s Capital by the Controlling Shareholder or Its RelatedParties for Non-Operating Purposes
□ Applicable √ Not applicable
No such cases in the Reporting Period.
Part IV Financial Statements
I Financial Statements
1. Consolidated Balance Sheet
Prepared by Lu Thai Textile Co., Ltd.
30 September 2019
Unit: RMBItem 30 September 2019 31 December 2018Current assets:
Monetary capital683,353,628.74
545,502,709.36
Trading financial assets 31,501,467.04
Financial assets at fair value through profit or loss
Derivative financial assets
Notes receivable 129,159,118.93
174,657,918.26
Accounts receivable 379,514,852.15
374,607,116.55
Accounts receivable financing
Prepayments 196,906,160.26
149,582,616.21
Other receivables73,542,617.81
63,012,001.10
Including: Interest receivable 2,365,415.76
Dividends receivable
Financial assets purchased under resale agreements
Inventories2,449,924,067.98
2,093,366,992.30
Contractual assets
Assets classified as held for sale
Current portion of non-current assets 52,256,130.79
Other current assets72,598,373.59
86,366,454.56
Total current assets 4,068,756,417.29
3,487,095,808.34
Non-current assets:
Investments in debt obligations
Available-for-sale financial assets
85,112,000.00
Investments in other debt obligations
Held-to-maturity investments
Long-term receivables 8,818,242.91
10,693,844.75
Long-term equity investments98,925,703.04
96,018,463.65
Investments in other equity instruments 12,000,000.00
Other non-current financial assets 31,018,515.95
Investment property 38,266,359.35
22,880,242.95
Fixed assets5,771,423,930.07
5,748,562,385.35
Construction in progress 502,791,371.42
337,230,646.42
Intangible assets 528,724,915.77
478,689,064.45
Goodwill 20,563,803.29
20,613,803.29
Long-term prepaid expense150,370,671.30
119,126,407.71
Deferred income tax assets 80,480,242.51
88,636,929.06
Other non-current assets36,133,166.05
43,100,215.87
Total non-current assets 7,279,516,921.66
7,050,664,003.50
Total assets11,348,273,338.95
10,537,759,811.84
Current liabilities:
Short-term borrowings2,117,741,665.40
1,325,273,780.05
Trading financial liabilities
Financial liabilities at fair value through profit or loss
4,877,600.00
Derivative financial liabilities
Notes payable 22,125,109.37
502,347.05
Accounts payable 229,909,541.78
353,186,163.90
Advances from customers 104,448,976.14
105,562,378.66
Contractual liabilities
Payroll payable298,573,258.40
325,998,210.17
Taxes payable 38,820,588.53
43,556,823.75
Other payables216,327,314.09
215,946,987.68
Including: Interest payable 7,318,446.67
3,068,841.54
Dividends payable 441,113.64
441,113.64
Liabilities directly associated with assets classified as held for sale
Current portion of non-current liabilities111,331,864.72
Other current liabilities
Total current liabilities3,139,278,318.43
2,374,904,291.26
Non-current liabilities:
Long-term borrowings 18,961,030.32
170,019,083.89
Long-term payables
Long-term payroll payable86,420,799.53
96,958,178.53
Provisions
Deferred income139,134,413.73
140,183,446.39
Deferred income tax liabilities 27,874,484.06
28,030,096.38
Other non-current liabilities1,840,000.00
1,840,000.00
Total non-current liabilities 274,230,727.64
437,030,805.19
Total liabilities3,413,509,046.07
2,811,935,096.45
Owners’ equity:
Share capital 858,121,541.00
922,602,311.00
Capital reserve 256,632,428.28
699,493,647.48
Less: Treasury stock
486,922,944.94
Other comprehensive income 111,894,866.80
61,157,013.37
Surplus reserves 1,022,717,451.40
1,022,717,451.40
Retained earnings 5,102,136,874.98
4,927,500,989.55
Total equity attributable to owners of the Company as the parent7,351,503,162.46
7,146,548,467.86
Non-controlling interests 583,261,130.42
579,276,247.53
Total owners’ equity7,934,764,292.88
7,725,824,715.39
Total liabilities and owners’ equity 11,348,273,338.95
10,537,759,811.84
Legal representative: Liu Zibin The Company’s chief accountant: Zhang HongmeiThe Company’s financial manager: Zhang Keming
2. Balance Sheet of the Company as the Parent
Unit: RMBItem 30 September 2019 31 December 2018Current assets:
Monetary capital 146,337,238.24
191,305,104.80
Trading financial assets31,350,000.00
Financial assets at fair value through profit or loss
Derivative financial assets
Notes receivable 47,978,730.62
91,555,248.34
Accounts receivable 350,747,701.24
316,225,973.28
Accounts receivable financing
Prepayments 108,525,969.43
115,020,260.51
Other receivables613,846,460.12
395,847,213.77
Including: Interest receivable
Dividends receivable
Inventories 1,432,477,318.67
1,040,433,078.53
Contractual assets
Assets classified as held for sale
Current portion of non-current assets52,256,130.79
Other current assets 848,975.15
12,671,631.64
Total current assets2,784,368,524.26
2,163,058,510.87
Non-current assets:
Investments in debt obligations
Available-for-sale financial assets
73,112,000.00
Investments in other debt obligations
Held-to-maturity investments
Long-term receivables
Long-term equity investments 2,521,541,019.08
2,165,711,579.69
Investments in other equity instruments
Other non-current financial assets 31,018,515.95
Investment property31,428,015.67
14,804,592.72
Fixed assets 2,668,052,628.86
2,731,726,695.28
Construction in progress59,479,055.48
61,182,771.86
Intangible assets 237,399,361.88
242,204,032.54
Goodwill
Long-term prepaid expense
Deferred income tax assets46,274,665.49
52,758,961.05
Other non-current assets 2,819,450.02
6,047,443.10
Total non-current assets5,598,012,712.43
5,347,548,076.24
Total assets 8,382,381,236.69
7,510,606,587.11
Current liabilities:
Short-term borrowings 928,629,284.35
622,604,447.52
Trading financial liabilities
Financial liabilities at fair value through profit or loss
4,877,600.00
Derivative financial liabilities
Notes payable 420,035,914.66
120,000.00
Accounts payable 158,548,287.20
120,021,727.66
Advances from customers 60,609,258.23
49,798,551.14
Contractual liabilities
Payroll payable 222,245,639.71
240,090,943.88
Taxes payable28,318,102.82
30,914,089.32
Other payables 280,561,093.63
303,672,590.72
Including: Interest payable 6,170,923.39
2,475,549.88
Dividends payable 441,113.64
441,113.64
Liabilities directly associated with assets classified as held for sale
Current portion of non-current liabilities
Other current liabilities
Total current liabilities 2,098,947,580.60
1,372,099,950.24
Non-current liabilities:
Long-term borrowings
Long-term payables
Long-term payroll payable 86,420,799.53
96,958,178.53
Provisions
Deferred income 93,190,373.91
94,390,844.09
Deferred income tax liabilities16,810,230.43
16,699,530.43
Other non-current liabilities
Total non-current liabilities196,421,403.87
208,048,553.05
Total liabilities 2,295,368,984.47
1,580,148,503.29
Owners’ equity:
Share capital 858,121,541.00
922,602,311.00
Capital reserves317,206,232.47
759,836,756.57
Less: Treasury stock
486,922,944.94
Other comprehensive income
520,200.00
Surplus reserves 1,019,608,711.76
1,019,608,711.76
Retained earnings3,892,075,766.99
3,714,813,049.43
Total owners’ equity 6,087,012,252.22
5,930,458,083.82
Total liabilities and owners’ equity8,382,381,236.69
7,510,606,587.11
3. Consolidated Income Statement for Q3
Unit: RMBItem Q3 2019 Q3 2018
1. Revenue 1,626,165,317.03
1,743,184,011.30
Including: Operating revenue 1,626,165,317.03
1,743,184,011.30
Interest income
2. Costs and expenses 1,409,327,905.19
1,441,771,123.15
Including: Cost of sales 1,134,881,337.85
1,202,063,269.94
Interest expense
Taxes and surcharges 19,277,202.31
25,517,190.09
Selling expense 39,940,915.79
36,889,477.84
Administrative expense 132,610,760.47
117,159,789.88
R&D expense 74,015,794.52
52,932,799.61
Finance costs 8,601,894.25
7,208,595.79
Including: Interest expense 19,779,508.78
16,558,359.20
Interest income 2,710,018.22
5,662,375.52
Add: Other income 3,734,368.66
9,124,879.25
Return on investment (“-” for loss) 6,359,866.40
-23,034,065.03
| Including: Share of profit or loss of joint ventures and |
associates
-1,712,208.40
-1,055,310.06
Derecognition income of financial assets measured atamortized cost
Foreign exchange gain (“-” for loss)
Net gain on exposure hedges (“-” for loss)
Gain on changes in fair value (“-” for loss) 355,467.04
-15,631,140.00
Credit impairment loss (“-” for loss) -486,217.28
Asset impairment loss (“-” for loss) -6,458,082.21
-2,893,902.64
Asset disposal income (“-” for loss) -351,073.80
23,755,540.09
3. Operating profit (“-” for loss) 219,991,740.65
292,734,199.82
Add: Non-operating income971,245.09
2,673,434.80
Less: Non-operating expense 7,571,310.67
1,628,939.02
4. Profit before tax (“-” for loss)
213,391,675.07
293,778,695.60
Less: Income tax expense 29,571,059.77
44,321,359.81
5. Net profit (“-” for net loss)
183,820,615.30
249,457,335.79
5.1 By operating continuity 5.1.1 Net profit from continuing operations (“-” for net loss) 183,820,615.30
249,457,335.79
5.1.2 Net profit from discontinued operations (“-” for net loss)
5.2 By ownership
5.2.1
parent
176,453,154.53
| Net profit attributable to owners of the Company as the |
209,540,056.51
5.2.2 Net profit attributable to non-controlling interests 7,367,460.77
39,917,279.28
6. Other comprehensive income, net of tax
39,451,542.18
24,566,771.97
Attributable to owners of the Company as the parent 39,451,542.18
24,566,771.97
6.2 Items that will be reclassified to profit or loss
39,451,542.18
24,566,771.97
6.2.1 O
| ther comprehensive income that will be reclassified to |
profit or loss under the equity method
6.2.2
obligations
| Changes in the fair value of investments in other debt |
6.2.3 Gain/Loss on changes in the
available-for-sale financial assets
| fair value of |
-344,250.00
6.2.4
| Other comprehensive income arising from the |
reclassification of financial assets
6.2.5 Gain/Loss arising from the
held-to-maturity investments to available-for-sale financial assets
| reclassification of | ||
| 6.2.6 Allowance for credit impairments in investments in |
other debt obligations
6.2.7 Reserve for cash flow hedges
6.2.8 Differences arising from the
currency-denominated financial statements
39,451,542.18
| translation of foreign |
24,911,021.97
6.2.9 Other
Attributable to non-controlling interests
7. Total comprehensive income 223,272,157.48
274,024,107.76
Attributable to owners of the Company as the parent 215,904,696.71
234,106,828.48
Attributable to non-controlling interests 7,367,460.77
39,917,279.28
8. Earnings per share
8.1 Basic earnings per share 0.20
0.23
8.2 Diluted earnings per share 0.20
0.23
Where business combinations under common control occurred in the current period, the net profit achieved by the acquirees beforethe combinations was RMB0.00, with the amount for the same period of last year being RMB0.00.Legal representative: Liu Zibin The Company’s chief accountant: Zhang HongmeiThe Company’s financial manager: Zhang Keming
4. Income Statement of the Company as the Parent for Q3
Unit: RMBItem Q3 2019 Q3 2018
1. Operating revenue 1,228,054,030.71
1,311,467,279.35
Less: Cost of sales 915,369,284.69
969,922,821.85
Taxes and surcharges 12,937,532.49
17,215,045.88
Selling expense 22,518,421.20
20,317,829.54
Administrative expense 78,566,335.27
75,809,175.22
R&D expense 52,844,715.85
37,589,240.19
Finance costs 6,719,151.21
4,383,922.13
Including: Interest expense 7,263,684.00
5,775,599.84
Interest income 741,357.06
418,784.42
Add: Other income 4,331,634.30
4,231,549.46
Return on investment (“-” for loss) 23,766,350.02
-1,036,006.41
Including: Share of profit or loss of joint ventures andassociates
-1,712,208.40
-1,055,310.06
Derecognition income of financial assets measured atamortized cost
Net gain on exposure hedges (“-” for loss)
Gain on changes in fair value (“-” for loss) 204,000.00
-11,551,800.00
Credit impairment loss (“-” for loss) -59,892.99
Asset impairment loss (“-” for loss)
-2,207,675.19
Asset disposal income (“-” for loss) -287,498.05
-60,714.02
2. Operating profit (“-” for loss) 167,053,183.28
175,604,598.38
Add: Non-operating income 767,005.32
2,629,812.70
Less: Non-operating expense 5,622,462.22
1,220,654.32
3. Profit before tax (“-” for loss) 162,197,726.38
177,013,756.76
Less: Income tax expense 22,824,927.87
24,375,571.27
4. Net profit (“-” for net loss) 139,372,798.51
152,638,185.49
4.1 Net profit from continuing operations (“-” for net loss) 139,372,798.51
152,638,185.49
4.2 Net profit from discontinued operations (“-” for net loss)
5. Other comprehensive income, net of tax
-344,250.00
5.2 Items that will be reclassified to profit or loss
-344,250.00
5.2.1 Other comprehensive income that will be reclassified to
profit or loss under the equity method
5.2.
obligations
| 2 Changes in the fair value of investments in other debt |
5.2.3 Gain/Loss on changes in the fair value of available-for-
financial assets
| sale |
-344,250.00
5.2.
| 4 Other comprehensive income arising from the |
reclassification of financial assets
5.2.5 Gain/Loss arising from the
held-to-maturity investments to available-for-sale financial assets
| reclassification of |
5.2.6 Allowance for
debt obligations
| credit impairments in investments in other |
5.2.7 Reserve for cash flow hedges
5.2.8 Differences arising from the
currency-denominated financial statements
| translation of foreign |
5.2.9 Other
6. Total comprehensive income 139,372,798.51
152,293,935.49
7. Earnings per share
7.1 Basic earnings per share 0.16
0.16
7.2 Diluted earnings per share
0.16
0.16
5. Consolidated Income Statement for Q1~Q3
Unit: RMBItem Q1~Q3 2019 Q1~Q3 2018
1. Revenue 4,811,613,661.04
5,023,591,787.12
Including: Operating revenue4,811,613,661.04
5,023,591,787.12
Interest income
2. Operating costs and expenses
4,146,487,815.45
4,280,415,032.81
Including: Cost of sales 3,345,768,293.38
3,562,899,701.35
Interest income
Taxes and surcharges 62,014,007.08
79,987,597.97
Selling expense117,777,858.73
103,830,566.40
Administrative expense 323,816,358.21
280,434,300.58
R&D expense 235,954,833.75
215,529,045.41
Finance costs 61,156,464.30
37,733,821.10
Including: Interest expense67,095,974.54
39,093,671.25
Interest income 7,048,783.32
13,065,868.54
Add: Other income 35,960,594.57
46,267,401.20
Investment income (“-” for loss) 16,777,341.81
-18,388,041.25
Including: Share of profit o
associates
3,370,893.14
| r loss of joint ventures and |
-2,785,907.65
| Derecognition income of financial assets measured at |
amortized cost
Foreign exchange gain (“-” for loss)
Net gain on exposure hedges (“-” for loss)
Gain on changes in fair value (“-” for loss) 5,638,067.04
-44,112,150.00
Credit impairment loss (“-” for loss) -1,017,168.59
Asset impairment loss (“-” for loss) -8,001,281.59
-5,015,397.48
Asset disposal income (“-” for loss) 162,416.20
23,233,253.44
3. Operating profit (“-” for loss) 714,645,815.03
745,161,820.22
Add: Non-operating income 4,068,269.53
5,680,589.63
Less: Non-operating expense 9,785,667.21
3,623,862.73
4. Profit before tax (“-” for loss) 708,928,417.35
747,218,547.12
Less: Income tax expense 104,410,292.06
107,596,874.38
5. Net profit (“-” for net loss) 604,518,125.29
639,621,672.74
5.1 By operating continuity 5.1.1 Net profit from continuing operations (“-” for net loss) 604,518,125.29
639,621,672.74
5.1.2 Net profit from discontinued operations (“-” for net loss)
5.2 By ownership
parent
587,899,371.12
| 5.2.1 Net profit attributable to owners of the Company as the |
586,896,015.53
5.2.2 Net profit attributable to non-controlling interests
16,618,754.17
52,725,657.21
6. Other comprehensive income, net of tax 51,258,053.43
52,126,425.89
Attributable to owners of the Company as the parent51,258,053.43
52,126,425.89
6.2 Items that will be reclassified to profit or loss 51,258,053.43
52,126,425.89
| 6.2.1 Other comprehensive income that will be reclassified to |
profit or loss under the equity method
| 6.2.2 Changes in the fair value of investments in other debt |
obligations
| 6.2.3 Gain/Loss on changes in the fair value of |
available-for-sale financial assets
675,750.00
| 6.2.4 Other comprehensive income arising from the |
reclassification of financial assets
| 6.2.5 Gain/Loss arising from the reclassification of |
held-to-maturity investments to available-for-sale financial assets
| 6.2.6 Allowance for credit impairments in investments in |
other debt obligations
6.2.7 Reserve for cash flow hedges
| 6.2.8 Differences arising from the translation of foreign |
currency-denominated financial statements
51,258,053.43
51,450,675.89
6.2.9 Other
Attributable to non-controlling interests
7. Total comprehensive income
655,776,178.72
691,748,098.63
Attributable to owners of the Company as the parent 639,157,424.55
639,022,441.42
Attributable to non-controlling interests16,618,754.17
52,725,657.21
8. Earnings per share
8.1 Basic earnings per share
0.68
0.64
8.2 Diluted earnings per share 0.68
0.64
Where business combinations under common control occurred in the current period, the net profit achieved by the acquirees beforethe combinations was RMB0.00, with the amount for the same period of last year being RMB0.00.Legal representative: Liu Zibin The Company’s chief accountant: Zhang HongmeiThe Company’s financial manager: Zhang Keming
6. Income Statement of the Company as the Parent for Q1~Q3
Unit: RMBItem Q1~Q3 2019 Q1~Q3 2018
1. Operating revenue 3,716,383,597.08
3,815,256,129.99
Less: Cost of sales 2,763,237,736.46
2,831,327,287.54
Taxes and surcharges 41,622,943.89
57,522,630.63
Selling expense 68,978,522.39
58,633,294.63
Administrative expense 193,912,329.35
175,674,751.06
R&D expense 163,862,447.14
152,490,515.84
Finance costs 19,312,970.11
15,775,202.00
Including: Interest expense 22,211,902.54
11,499,059.62
Interest income 2,448,462.24
3,615,417.12
Add: Other income 24,502,578.64
32,824,295.66
Investment income (“-” for loss) 180,695,074.92
881,396.52
| Including: Share of profit or loss of joint ventures and |
associates
3,370,893.14
-2,785,907.65
| Derecognition income of financial assets measured at |
amortized cost
Net gain on exposure hedges (“-” for loss)
Gain on changes in fair value (“-” for loss) 5,486,600.00
-30,399,300.00
Credit impairment loss (“-” for loss) -2,593,516.95
Asset impairment loss (“-” for loss)
-1,025,520.28
Asset disposal income (“-” for loss) 306,167.84
-9,093,464.10
2. Operating profit (“-” for loss) 673,853,552.19
517,019,856.09
Add: Non-operating income3,077,515.36
4,494,842.92
Less: Non-operating expense 6,646,250.89
2,339,681.53
3. Profit before tax (“-” for loss)
670,284,816.66
519,175,017.48
Less: Income tax expense 79,758,613.41
81,334,892.78
4. Net profit (“-” for net loss)
590,526,203.25
437,840,124.70
4.1 Net profit from continuing operations (“-” for net loss) 590,526,203.25
437,840,124.70
4.2 Net profit from discontinued operations (“-” for net loss)
5. Other comprehensive income, net of tax
675,750.00
5.2 Items that will be reclassified to profit or loss
675,750.00
| 5.2.1 Other comprehensive income that will be reclassified to |
profit or loss under the equity method
| 5.2.2 Changes in the fair value of investments in other debt |
obligations
5.2.3 Gain/Loss on changes in the fair value of available-for-
financial assets
| sale |
675,750.00
| 5.2.4 Other comprehensive income arising from the |
reclassification of financial assets
| 5.2.5 Gain/Loss arising from the reclassification of |
held-to-maturity investments to available-for-sale financial assets
| 5.2.6 Allowance for credit impairments in investments in other |
debt obligations
5.2.7 Reserve for cash flow hedges
| 5.2.8 Differences arising from the translation of foreign |
currency-denominated financial statements
5.2.9 Other
6. Total comprehensive income 590,526,203.25
438,515,874.70
7. Earnings per share
7.1 Basic earnings per share 0.69
0.47
7.2 Diluted earnings per share
0.69
0.47
7. Consolidated Cash Flow Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2019 Q1~Q3 2018
1. Cash flows from operating activities:
Proceeds from sale of commodities and rendering of services 4,697,089,850.71
4,919,565,086.62
Tax rebates161,177,878.89
163,977,565.90
Cash generated from other operating activities 91,028,581.53
72,652,513.56
Subtotal of cash generated from operating activities4,949,296,311.13
5,156,195,166.08
Payments for commodities and services 2,761,552,075.30
2,430,285,387.35
Cash paid to and for employees1,266,692,936.92
1,234,503,411.97
Taxes paid 232,669,382.58
195,779,524.72
Cash used in other operating activities206,578,300.20
172,474,225.29
Subtotal of cash used in operating activities 4,467,492,695.00
4,033,042,549.33
Net cash generated from/used in operating activities481,803,616.13
1,123,152,616.75
2. Cash flows from investing activities:
Proceeds from disinvestment30,000,000.00
Return on investment 2,402,138.74
Net proceeds from the
and other long-lived assets
2,662,361.66
| disposal of fixed assets, intangible assets |
32,556,953.49
Cash generated from other investing activities18,383,297.66
76,342,399.31
Subtotal of cash generated from investing activities 53,447,798.06
108,899,352.80
Payments for the
| acquisition of fixed assets, intangible assets and |
other long-lived assets
611,715,722.57
806,532,720.12
Payments for investments 50,000,000.00
Cash used in other investing activities 4,874,724.40
27,629,580.00
Subtotal of cash used in investing activities 666,590,446.97
834,162,300.12
Net cash generated from/used in investing activities -613,142,648.91
-725,262,947.32
3. Cash flows from financing activities:
Capital contributions received 50,000,000.00
500,000.00
Including: Capital contributions by non-
subsidiaries
50,000,000.00
| controlling interests to |
500,000.00
Borrowings obtained 3,108,669,601.05
2,376,163,674.80
Cash generated from other financing activities110,000,000.00
85,500,000.00
Subtotal of cash generated from financing activities 3,268,669,601.05
2,462,163,674.80
Repayments of borrowings2,398,405,094.49
1,842,546,176.23
Payments for interest and dividends 545,798,024.25
496,450,783.83
Including: Dividends paid by subsidiaries to non-
| controlling |
interests
62,023,566.38
12,023,566.38
Cash used in other financing activities 112,164,104.03
411,967,875.77
Subtotal of cash used in financing activities3,056,367,222.77
2,750,964,835.83
Net cash generated from/used in financing activities 212,302,378.28
-288,801,161.03
| 4. Effect of foreign exchange rate changes on cash and cash |
equivalents
14,142,881.59
17,794,234.31
5. Net increase in cash and cash equivalents
95,106,227.09
126,882,742.71
Add: Cash and cash equivalents, beginning of the period 535,134,772.90
676,639,212.86
6. Cash and cash equivalents, end of the period
630,240,999.99
803,521,955.57
8. Cash Flow Statement of the Company as the Parent Q1~Q3
Unit: RMBItem Q1~Q3 2019 Q1~Q3 2018
1. Cash flows from operating activities:
Proceeds from sale of commodities and rendering of services3,614,205,464.15
3,785,633,830.30
Tax rebates 117,003,748.15
106,532,179.75
Cash generated from other operating activities28,034,497.06
43,398,321.95
Subtotal of cash generated from operating activities 3,759,243,709.36
3,935,564,332.00
Payments for commodities and services2,030,728,889.86
2,128,325,245.47
Cash paid to and for employees 833,777,571.31
892,249,851.42
Taxes paid132,287,115.34
126,464,943.27
Cash used in other operating activities 103,194,693.82
101,507,637.23
Subtotal of cash used in operating activities3,099,988,270.33
3,248,547,677.39
Net cash generated from/used in operating activities 659,255,439.03
687,016,654.61
2. Cash flows from investing activities:
Proceeds from disinvestment 30,000,000.00
Return on investment170,378,572.36
17,976,433.62
Net proceeds from the
and other long-lived assets
2,670,316.61
| disposal of fixed assets, intangible assets |
91,081,938.50
Net proceeds from the disposal of subsidiaries and
| other business |
units
Cash generated from other investing activities102,390,079.19
489,871,987.82
Subtotal of cash generated from investing activities 305,438,968.16
598,930,359.94
Payments for the
other long-lived assets
154,894,842.57
| acquisition of fixed assets, intangible assets and |
164,450,789.04
Payments for investments402,922,200.00
350,352,500.00
Net payments for the
| acquisition of subsidiaries and other business |
unitsCash used in other investing activities 247,450,344.40
382,356,069.93
Subtotal of cash used in investing activities805,267,386.97
897,159,358.97
Net cash generated from/used in investing activities -499,828,418.81
-298,228,999.03
3. Cash flows from financing activities:
Capital contributions received
Borrowings obtained 1,743,028,577.13
1,414,730,254.38
Cash generated from other financing activities 317,313,300.00
241,357,600.00
Subtotal of cash generated from financing activities2,060,341,877.13
1,656,087,854.38
Repayments of borrowings 1,463,702,550.96
1,189,079,694.80
Payments for interest and dividends444,520,651.34
458,408,100.12
Cash used in other financing activities 359,508,204.03
411,967,875.77
Subtotal of cash used in financing activities2,267,731,406.33
2,059,455,670.69
Net cash generated from/used in financing activities -207,389,529.20
-403,367,816.31
| 4. Effect of foreign exchange rate changes on cash and cash |
equivalents
2,994,642.42
-3,518,381.48
5. Net increase in cash and cash equivalents -44,967,866.56
-18,098,542.21
Add: Cash and cash equivalents, beginning of the period 191,305,104.80
267,809,829.78
6. Cash and cash equivalents, end of the period 146,337,238.24
249,711,287.57
II Adjustments to the Financial Statements
1. Adjustments to the Financial Statements at the Beginning of the Execution of any New Standards
Governing Financial Instruments, Revenue or Leases from 2019
√ Applicable □ Not applicable
Consolidated Balance Sheet
Unit: RMBItem 31 December 2018 1 January 2019 AdjustedCurrent assets:
Monetary capital 545,502,709.36
545,502,709.36
Trading financial assets
60,612,000.00
60,612,000.00
Financial assets at fair value through profit or loss
Derivative financial assets
Notes receivable 174,657,918.26
174,657,918.26
Accounts receivable 374,607,116.55
374,607,116.55
Prepayments 149,582,616.21
149,582,616.21
Other receivables 63,012,001.10
63,012,001.10
Including: Interest receivable
Dividends receivable
Financial assets purchased under resale agreements
Inventories 2,093,366,992.30
2,093,366,992.30
Contractual assets
Assets classified as held for sale
Current portion of non-current assets
Other current assets 86,366,454.56
86,366,454.56
Total current assets3,487,095,808.34
3,547,707,808.34
60,612,000.00
Non-current assets:
Investments in debt obligations
Available-for-sale financial assets 85,112,000.00
-85,112,000.00
Investments in other debt obligations
Held-to-maturity investments
Long-term receivables10,693,844.75
10,693,844.75
Long-term equity investments 96,018,463.65
95,554,809.90
-463,653.75
Investments in other equity instruments
12,000,000.00
12,000,000.00
Other non-current financial assets
31,018,515.95
31,018,515.95
Investment property22,880,242.95
22,880,242.95
Fixed assets 5,748,562,385.35
5,748,562,385.35
Construction in progress337,230,646.42
337,230,646.42
Intangible assets 478,689,064.45
478,689,064.45
R&D expense
Goodwill 20,613,803.29
20,613,803.29
Long-term prepaid expense119,126,407.71
119,126,407.71
Deferred income tax assets 88,636,929.06
85,859,151.67
-2,777,777.39
Other non-current assets43,100,215.87
43,100,215.87
Total non-current assets 7,050,664,003.50
7,005,329,088.31
-45,334,915.19
Total assets10,537,759,811.84
10,553,036,896.65
15,277,084.81
Current liabilities:
Short-term borrowings1,325,273,780.05
1,325,273,780.05
Trading financial liabilities
Financial liabilities at fair value through profit or loss4,877,600.00
-4,877,600.00
Derivative financial liabilities
4,877,600.00
4,877,600.00
Notes payable 502,347.05
502,347.05
Accounts payable 353,186,163.90
353,186,163.90
Advances from customers 105,562,378.66
105,562,378.66
Contractual liabilities
Payroll payable325,998,210.17
325,998,210.17
Taxes payable 43,556,823.75
43,556,823.75
Other payables215,946,987.68
215,946,987.68
Including: Interest payable 3,068,841.54
3,068,841.54
Dividends payable 441,113.64
441,113.64
held for sale
| Liabilities directly associated with assets classified as |
Current portion of non-current liabilities
Other current liabilities
Total current liabilities 2,374,904,291.26
2,374,904,291.26
Non-current liabilities:
Insurance contract reserve
Long-term borrowings 170,019,083.89
170,019,083.89
Bonds payable
Including: Preferred shares
Perpetual bonds
Long-term payables
Long-term payroll payable 96,958,178.53
96,958,178.53
Provisions
Deferred income 140,183,446.39
140,183,446.39
Deferred income tax liabilities28,030,096.38
28,030,096.38
Other non-current liabilities 1,840,000.00
1,840,000.00
Total non-current liabilities437,030,805.19
437,030,805.19
Total liabilities 2,811,935,096.45
2,811,935,096.45
Owners’ equity:
Share capital 922,602,311.00
922,602,311.00
Capital reserves699,493,647.48
699,493,647.48
Less: Treasury stock 486,922,944.94
486,922,944.94
Other comprehensive income61,157,013.37
60,636,813.37
-520,200.00
Specific reserve
Surplus reserves 1,022,717,451.40
1,022,717,451.40
General reserve
Retained earnings 4,927,500,989.55
4,943,298,274.36
15,797,284.81
| Total equity attributable to owners of the Company as the |
parent
7,146,548,467.86
7,161,825,552.67
15,277,084.81
Non-controlling interests579,276,247.53
579,276,247.53
Total owners’ equity 7,725,824,715.39
7,741,101,800.20
15,277,084.81
Total liabilities and owners’ equity10,537,759,811.84
10,553,036,896.65
15,277,084.81
Note for adjustment:
In 2017, Ministry of Finance respectively revised and issued the Accounting Standards for Business Enterprises No. 22 - Recognitionand Measurement of Financial Instruments, the Accounting Standards for Business Enterprises No. 23 – Transfer of Financial Assets,the Accounting Standards for Business Enterprises No. 24 – Hedging Accounting, and the Accounting Standards for BusinessEnterprises No. 37 – Presentation of Financial Instruments (hereinafter jointly referred to as “new standards governing financialinstruments”), which required that enterprises listed domestically shall implement it from 1 January 2019. According to the standards,enterprises shall, on implementation date of the standards, classify and measure financial instruments according to regulations, andadjustment is not needed if the involved previous comparative data of financial statements is different from the data under the “newstandards governing financial instruments. For the balance between the original carrying value of financial instruments and the newcarrying value on implementation date of the standards, the amount of the items on 1 January 2019 in financial statements shall beadjusted, such as earned earnings, other comprehensive income.The Company began to implement the new standards governing financial instruments from 1 January 2019. According to Notes ofRevising and Printing the Format of 2018 General Enterprises Financial Statement issued by the Ministry of Finance, the Companyshall reclassify the original financial assets (liabilities) into trading financial assets, investments in other equity instruments, othernon-current financial assets, and derivative financial liabilities. For details about the influenced items and amounts, see the aboveadjusted financial statements.
Balance Sheet of the Company as the Parent
Unit: RMBItem 31 December 2018 1 January 2019 AdjustedCurrent assets:
Monetary capital 191,305,104.80
191,305,104.80
Trading financial assets
60,612,000.00
60,612,000.00
Financial assets at fair value through profit or loss
Derivative financial assets
Notes receivable 91,555,248.34
91,555,248.34
Accounts receivable 316,225,973.28
316,225,973.28
Accounts receivable financing
Prepayments 115,020,260.51
115,020,260.51
Other receivables 395,847,213.77
395,847,213.77
Including: Interest receivable
Dividends receivable
Inventories 1,040,433,078.53
1,040,433,078.53
Contractual assets
Assets classified as held for sale
Current portion of non-current assets
Other current assets 12,671,631.64
12,671,631.64
Total current assets2,163,058,510.87
2,223,670,510.87
60,612,000.00
Non-current assets:
Investments in debt obligations
Available-for-sale financial assets 73,112,000.00
-73,112,000.00
Investments in other debt obligations
Held-to-maturity investments
Long-term receivables
Long-term equity investments 2,165,711,579.69
2,165,247,925.94
-463,653.75
Investments in other equity instruments
Other non-current financial assets
31,018,515.95
31,018,515.95
Investment property14,804,592.72
14,804,592.72
Fixed assets 2,731,726,695.28
2,731,726,695.28
Construction in progress61,182,771.86
61,182,771.86
Intangible assets 242,204,032.54
242,204,032.54
Goodwill
Long-term prepaid expense
Deferred income tax assets52,758,961.05
49,981,183.66
-2,777,777.39
Other non-current assets 6,047,443.10
6,047,443.10
Total non-current assets5,347,548,076.24
5,302,213,161.05
-45,334,915.19
Total assets 7,510,606,587.11
7,525,883,671.92
15,277,084.81
Current liabilities:
Short-term borrowings 622,604,447.52
622,604,447.52
Trading financial liabilities
Financial liabilities at fair value through profit or loss 4,877,600.00
-4,877,600.00
Derivative financial liabilities
4,877,600.00
4,877,600.00
Notes payable 120,000.00
120,000.00
Accounts payable 120,021,727.66
120,021,727.66
Advances from customers 49,798,551.14
49,798,551.14
Contractual liabilities
Payroll payable 240,090,943.88
240,090,943.88
Taxes payable30,914,089.32
30,914,089.32
Other payables 303,672,590.72
303,672,590.72
Including: Interest payable 2,475,549.88
2,475,549.88
Dividends payable 441,113.64
441,113.64
held for sale
| Liabilities directly associated with assets classified as |
Current portion of non-current liabilities
Other current liabilities
Total current liabilities1,372,099,950.24
1,372,099,950.24
Non-current liabilities:
Long-term borrowings
Long-term payables
Long-term payroll payable 96,958,178.53
96,958,178.53
Provisions
Deferred income94,390,844.09
94,390,844.09
Deferred income tax liabilities 16,699,530.43
16,699,530.43
Non-current liabilities
Total non-current liabilities 208,048,553.05
208,048,553.05
Total liabilities1,580,148,503.29
1,580,148,503.29
Owners’ equity:
Share capital 922,602,311.00
922,602,311.00
Capital reserves 759,836,756.57
759,836,756.57
Less: Treasury stock486,922,944.94
486,922,944.94
Other comprehensive income 520,200.00
-520,200.00
Specific reserves
Surplus reserves 1,019,608,711.76
1,019,608,711.76
Retained earnings3,714,813,049.43
3,730,610,334.24
15,797,284.81
Total owners’ equity 5,930,458,083.82
5,945,735,168.63
15,277,084.81
Total liabilities and owners’ equity7,510,606,587.11
7,525,883,671.92
15,277,084.81
Note for adjustment:
In 2017, Ministry of Finance respectively revised and issued the Accounting Standards for Business Enterprises No. 22 - Recognitionand Measurement of Financial Instruments, the Accounting Standards for Business Enterprises No. 23 – Transfer of Financial Assets,
the Accounting Standards for Business Enterprises No. 24 – Hedging Accounting, and the Accounting Standards for BusinessEnterprises No. 37 – Presentation of Financial Instruments (hereinafter jointly referred to as “new standards governing financialinstruments”), which required that enterprises listed domestically shall implement it from 1 January 2019. According to the standards,enterprises shall, on implementation date of the standards, classify and measure financial instruments according to regulations, andadjustment is not needed if the involved previous comparative data of financial statements is different from the data under the “newstandards governing financial instruments. For the balance between the original carrying value of financial instruments and the newcarrying value on implementation date of the standards, the amount of the items on 1 January 2019 in financial statements shall beadjusted, such as earned earnings, other comprehensive income.The Company began to implement the new standards governing financial instruments from 1 January 2019. According to Notes ofRevising and Printing the Format of 2018 General Enterprises Financial Statement issued by the Ministry of Finance, the Companyshall reclassify the original financial assets (liabilities) into trading financial assets, investments in other equity instruments, othernon-current financial assets, and derivative financial liabilities. For details about the influenced items and amounts, see the aboveadjusted financial statements.
2. Retrospective Restatement of Previous Comparative Data due to the Execution of any New Standards
Governing Financial Instruments or Leases from 2019
□ Applicable √ Not applicable
III Independent Auditor’s ReportIndicate by tick mark whether the financial statements above have been audited by an independent auditor.
□Yes √ No
These financial statements have not been audited by such an auditor.
Signature of the Chairman of the Board: Liu ZibinLu Thai Textile Co., Ltd.
30 October 2019