Stock Code: 688007 Stock Short Name: Appotronics
Appotronics Corporation LimitedThe First Quarter Report in 2022
The Board of Directors of the Company and all directors warrant that thisAnnouncement is free from any misrepresentation, misleading statement, or materialomission, and shall be jointly and severally liable for the truthfulness, accuracy, andcompleteness of the content hereof.
Important NotesThe Board of Directors, the Board of Supervisors, directors, supervisors, and seniorofficers of the Company hereby warrant that the information contained in this QuarterlyReport is true, accurate and complete and this Quarterly Report is free from anymisrepresentation, misleading statement or material omission, and agree to assume jointand several liability for this Quarterly Report.The Principal, Person in Charge of the Accounting Body, and Chief Accountant of theCompany hereby represent that the information of the financial statements contained in thisQuarterly Report are true, accurate and complete.
Whether the financial statements of the 1st quarter have been audited
□ Yes √ No
本报告为深圳光峰科技股份有限公司自愿披露的《2022年第一季度报告（英文版）》，对本报告的中英文版本理解上发生歧义时，以中文版本为准。
This First Quarter Report in 2022 is voluntarily disclosed by Appotronics Corporation Limited;in the event of any inconsistency in the understanding of the Chinese and English versions of thisReport, the Chinese version prevails.
I. Major financial data(I) Main accounting data and financial indicators
In RMB
| Item | During the reporting period | Change on a year-on-year basis (%) | |
| Operating income | 525,139,870.53 | 0.03 | |
| Net profit attributable to shareholders of the listed company | 17,858,914.53 | -67.18 | |
| Net profit attributable to shareholders of the listed company after deduction of non-recurring profit or loss | 550,708.61 | -98.50 | |
| Net cash flow from operating activities | -68,223,422.47 | -164.23 | |
| Basic earnings per share (RMB/share) | 0.04 | -66.67 | |
| Diluted earnings per share (RMB/share) | 0.04 | -66.67 | |
| Weighted average return on net assets (%) | 0.73 | -1.84 percentage points | |
| Total R&D investments | 54,924,987.12 | 23.27 | |
| Proportion of R&D investments to operating income (%) | 10.46 | +1.97 percentage points | |
| At the end of the reporting period | At the end of the prior year | Changes at the end of the reporting period from the end of the prior year (%) | |
| Total assets | 4,078,683,693.46 | 4,097,230,955.90 | -0.45 |
| Owners’ equity attributable to shareholders of the listed company | 2,470,826,659.30 | 2,438,064,581.44 | 1.34 |
(II) Items and amounts of non-recurring profit or loss
In RMB
| Item | Amount for the current period | Description |
| Gain or loss on disposal of non-current assets | -163,268.42 | |
| Government grants recognized in profit or loss for the current period (excluding government grants that are closely related to the business of the Company and are provided in fixed amount or quantity continuously according to the applicable polices and standards of the country) | 9,788,819.73 | |
| Profit or loss on entrusted investments or assets management | 2,993,304.56 | |
| Net profit or loss of subsidiaries from the beginning of the period up to the business combination date recognized as a result of business combination of enterprises involving enterprises under common control | 6,705,942.59 | |
| Profit or loss on changes in the fair value of held-for-trading financial assets, derivative financial assets, held-for-trading financial liabilities and derivative financial liabilities and investment income on disposal of held-for-trading financial assets, derivative financial assets, held-for-trading financial liabilities, derivative financial liabilities and other debt investments, other than those used in the effective hedging activities relating to normal operating business | -130,000.00 | |
| Other non-operating income and expenses | 79,683.91 | |
| Other profits or losses meeting the definition of non-recurring profit or loss | 316,603.77 | |
| Less: Effect of income taxes | 1,864,519.20 | |
| Effects attributable to minority interests (net of tax) | 418,361.02 | |
| Total | 17,308,205.92 |
Description of defining non-recurring profit or loss items illustrated in Information Disclosure andPresentation Rules for Companies Making Public Offering of Securities No. 1－Non-recurring Profit orLoss as recurring profit or loss items
□ Applicable √ N/A
(III) Description of and reasons for changes in the main accounting data and financial indicators
√ Applicable □ N/A
| Item | % Change | Main reason |
| Net profit attributable to shareholders of the listed company | -67.18 | The main reasons are the year-on-year decrease by 11.5% in the incomes from the cinema projection service business, the decrease by 4.5% in the gross margin of the cinema projection service business, the year-on-year increase of RMB 18.1673 million of selling expenses, the year-on-year increase of RMB 22.0279 million in share-based payment expenses, and the year-on-year increase of RMB 10.3694 million in R&D investments, which lead to the year-on-year decrease in the total profits |
| Net profit attributable to shareholders of the listed company after deduction of non-recurring profit or loss | -98.50 | Same as the above |
| Net cash flow from operating activities | -164.23 | The main reasons are the year-on-year increase in the payment for stock buildup, the payment for employee salaries and bonuses, and period expenses during the reporting period |
| Basic earnings per share (RMB/share) | -66.67 | The main reasons are the decrease in the net profit attributable to shareholders of the listed company during the reporting period |
| Diluted earnings per share (RMB/share) | -66.67 | The main reasons are the decrease in the net profit attributable to shareholders of the listed company during the reporting period |
1. Analysis of business operation during the reporting period
During the reporting period, the Company expanded business operation focusing on“core technologies + core devices + application scenarios”, further optimized the businessstructure, and achieved outstanding results especially in the business of laser core devices.Key development of the Company’s main business during the reporting period is asfollows:
Firstly, the business of laser projection core devices achieved rapid expansion in thehousehold field. The Company supplied customized laser mini projectors, laser TV lightgenerators, or other products to Dangbei, Anker Innovations, VAVA, Xgimi, ViewSonic,
Haier, Hewlett-Packard, and other companies. In the first quarter of 2022, we achieved theoperating income of RMB 77.7392 million from this business, a year-on-year increase by
91.21%. The joining of more and more partners in the ALPD? laser projection ecologychain further proves the competitive advantages of our core technologies.Secondly, Formovie, the controlled subsidiary for the TO C business of the Company,further optimized its business structure. By increasing the proportion of incomes fromown-brand products from 36% to 56% on a year-on-year basis, Formovie gradually builtthe image of Formovie’s own brand to start the benign cycle for its business. Formovieimproved its overall gross margin by nearly 4 percentage points, mainly due to the increasein incomes from Formovie own-brand products and the increase in the gross margin ofproducts. In particular, the gross margin of Formovie’s laser TV business increased bynearly 10 percentage points on a year-on-year basis mainly due to the increase in theproportion of incomes from own-brand high-end TVs.
Since the beginning of 2022, the recurrence of COVID-19 in many cities across Chinacaused certain impact on the Company’s business development, which put pressure on boththe incomes and profits of the Company in the first quarter, especially the obvious impactcaused on the business education and cinema businesses. The incomes from businesseducation of the Company decreased by 48.73% on a year-on-year basis; however, byfocusing on the market of higher education, we achieved improvement in the gross margincompared with the previous year. With respect to the cinema projection service business,some places implemented shutdown measures in compliance with requirements for theprevention and control of COVID-19. During the reporting period, the incomes from thecinema projection service business decreased by 11.58%, and the gross margin decreasedby 4.54 percentage points, which are the main reasons for the year-on-year decrease in theCompany’s profits in the current period.
2. Analysis of factors affecting profits
With respect to expenses, during the reporting period, the Company’s selling expensesincreased by RMB 18.1673 million, increased by 49.46% on a year-on-year basis, mainlydue to the market investment expenses of RMB 14.1538 million to implement the
Company’s policy of active market competition, increasing investment for the consumermarket, and building own brands of the Company.To motivate core personnel playing a significant role in the new growth curve of theCompany in the future, the Company launched two restricted share incentive plans in 2021,under which the share-based payment expenses were RMB 25.3099 million in the currentperiod, increased by 671.16% on a year-on-year basis.
As a result of the above, the Company experienced significant changes in the profits ofthe current period compared with the same period of the last year. With the share-basedpayment expenses not being included, the net profits attributable to owners of the parentcompany are RMB 46.7498 million, and the net profits attributable to owners of the parentcompany after deduction of non-recurring profit or loss are RMB 29.4416 million.
3. Development of innovation businesses
(1) Vehicle-mounted display business
A trend for the future vehicle industry is the intelligentization of vehicles. The newrequirements on vehicle-mounted displays for intelligent cabins motivated innovativeapplication of laser projection display as vehicle-mounted displays, such as drive assistance,and human-machine interaction experience and entertainment for passengers, including thevehicle roof screen, vehicle window transparent display, large screen for entertainment,AR-HUD, smart surfaces, smart laser headlights, etc., which lead to a broad market spacefor vehicle-mounted display.
During the reporting period, we acquired the certificate for IATF 16949:2016 QualityManagement System, the admission certificate for entering the domestic and overseasvehicle supply chain, which facilitates further expansion of the Company’svehicle-mounted laser projection display business. By now, we have engaged incooperation with some vehicle manufacturers and tier-1 suppliers. It’s expected that, afterrestoration from COVID-19, we will showcase the results of our cooperation with vehiclemanufacturer at various major vehicle exhibitions throughout China.
(2) AR business
We have achieved breakthrough in the technology research and development in theAR filed by successfully developing the AR core device module which can achievefull-color, dynamic, and high-definition display effects. At present, we have been invited tothe 2022 International Conference on Display Technology (ICDT 2022); moreover, weplan to present relevant R&D achievements on a stage-by-stage basis with reference tofurther optimization of AR technologies.II. Shareholder information(I) Total number of ordinary shareholders, number of preferred shareholders whose voting right has
been restituted, and shares held by top 10 shareholders
Unit: Share
| Total number of ordinary shareholders as of the end of the reporting period | 14,426 | Total number of preferred shareholders whose voting right has been restituted as of the end of the reporting period (if any) | N/A | |||||||
| Shares held by top 10 shareholders | ||||||||||
| Shareholder | Nature of shareholder | Number of shares held | Proportion of shareholding (%) | Number of non-tradable shares held | Number of non-tradable shares held, including the shares lent out under the refinancing arrangement | Shares pledged, marked, or frozen | ||||
| Status of shares | Quantity | |||||||||
| Shenzhen Appotronics Holdings Limited | Domestic non-stated owned corporation | 79,762,679 | 17.62 | 79,762,679 | 79,762,679 | None | 0 | |||
| Shenzhen Yuanshi Laser Industrial Investment Consulting Partnership (LP) | Domestic non-stated owned corporation | 24,139,500 | 5.33 | 24,139,500 | 24,139,500 | None | 0 | |||
| Nantong Strait Appotronics Investment Partnership (LP) | Domestic non-stated owned corporation | 23,080,329 | 5.10 | 0 | 0 | None | 0 | ||
| Shenzhen Appotronics Daye Investment Partnership (LP) | Domestic non-stated owned corporation | 20,430,250 | 4.51 | 20,430,250 | 20,430,250 | None | 0 | ||
| Citron PE Investment (Hong Kong) 2016 Limited | Foreign corporation | 17,435,203 | 3.85 | 0 | 0 | None | 0 | ||
| Shenzhen Appotronics Hongye Investment Partnership (LP) | Domestic non-stated owned corporation | 15,662,374 | 3.46 | 15,662,374 | 15,662,374 | None | 0 | ||
| Shenzhen Jinleijing Investment Limited Partnership (LP) | Domestic non-stated owned corporation | 12,353,106 | 2.73 | 12,353,106 | 12,353,106 | None | 0 | ||
| Green Future Holdings Limited | Foreign corporation | 12,333,426 | 2.72 | 0 | 0 | None | 0 | ||
| SAIF IV Hong Kong (China Investments) Limited | Foreign corporation | 11,367,191 | 2.51 | 0 | 0 | None | 0 | ||
| Shenzhen Appotronics Chengye Consulting Partnership (LP) | Domestic non-stated owned corporation | 10,394,846 | 2.30 | 10,394,846 | 10,394,846 | None | 0 | ||
| Shares held by top 10 holders of tradable shares | |||||||||
| Shareholder | Number of tradable shares held | Type and number of shares | |||||||
| Type of shares | Quantity | ||
| Nantong Strait Appotronics Investment Partnership (LP) | 23,080,329 | RMB-denominated ordinary share | 23,080,329 |
| Citron PE Investment (Hong Kong) 2016 Limited | 17,435,203 | RMB-denominated ordinary share | 17,435,203 |
| Green Future Holdings Limited | 12,333,426 | RMB-denominated ordinary share | 12,333,426 |
| SAIF IV Hong Kong (China Investments) Limited | 11,367,191 | RMB-denominated ordinary share | 11,367,191 |
| Shenzhen Guochuang Chenggu Capital Management Co., Ltd. - Shenzhen Chengguhui Equity Investment Partnership (LP) | 6,674,369 | RMB-denominated ordinary share | 6,674,369 |
| LUO Xiaobin | 6,333,626 | RMB-denominated ordinary share | 6,333,626 |
| China Merchants Bank Co., Ltd. - Agricultural Bank of China Huili Strategic Income One-year Holding Hybrid Securities Investment Fund | 5,778,752 | RMB-denominated ordinary share | 5,778,752 |
| China Construction Bank Corporation - Invesco Great Wall Environment Protection Advantageous Stock Securities Investment Fund | 5,419,897 | RMB-denominated ordinary share | 5,419,897 |
| Bank of China Co., Ltd. - Invesco Great Wall Selected Hybrid Securities Investment Fund | 4,867,793 | RMB-denominated ordinary share | 4,867,793 |
| Bank of Ningbo Co., Ltd. - Invesco Great Wall Growth Leader One-year Holding Hybrid Securities Investment Fund | 4,728,701 | RMB-denominated ordinary share | 4,728,701 |
| Affiliates or concert parties among the shareholders stated above | 1. As of March 31, 2022, the Company has received no statement from aforementioned shareholders to confirm there is a related-party relationship or concerted action, except the concerted action among Shenzhen Appotronics Holdings Co., Ltd., Shenzhen Yuanshi Laser Industrial Investment Consulting Partnership (LP), Shenzhen Appotronics Daye Investment Partnership (LP), Shenzhen Appotronics Hongye Investment Partnership (LP), Shenzhen Jinleijing Investment Limited Partnership (LP), and Shenzhen Appotronics Chengye Consulting Partnership (LP) in top 10 shareholders of the Company. 2. We are not aware whether there are affiliates or concert parties as defined in the Administrative Measures for the Acquisition of the Listed Companies among other shareholders. |
| Description of margin trading, short selling, and refinancing involving top 10 shareholders and top 10 holders of non-restricted shares (if any) | N/A |
III. Other eventsOther important information about the business operation of the Company during the reporting periodrequesting the attention of investors
√ Applicable □ N/A
(I) Litigation and arbitration
1. During the reporting period, the Company received the civil ruling (2019) Jing 73 Min Chu No.1275 and (2019) Jing 73 Min Chu NO. 1276 issued by Beijing Intellectual Property Court in January2022. In the judgment of the first instance, Beijing Intellectual Property Court dismissed all the claims ofDelta Electronics.
2. During the reporting period, the Company settled with Delta Electronics, Inc. and withdrew thecase (case No.: 19-cv-00466-RGD-LRL) concerning the dispute over the inventor of the US patent forinvention No. US9,024,241.
3. During the reporting period, the Company received a Notice of Responding to Action from theAmerican Arbitration Association (case No.: 01-22-0001-2735), in which the plaintiffs GDC Caymanand GDC BVI raised arbitration claims to the American Arbitration Association against the Companyand Appotronics HK on the ground that the Company failed to assist them in getting listed, henceconstituting violation of agreement; the amount involved is USD 38.00 million in total.
4. During the reporting period, the subsidiaries Appotronics Xiaoming and Beijing Fengmi receiveda Notice of Responding to Action from Zhejiang Higher People’s Court (case No.: (2022) Zhe 01 MinChu No. 157), in which Shenzhen Wanbo Technology Co., Ltd. initiated the civil litigation on the groundthat Appotronics Xiaoming and Beijing Fengmi infringed the design patent No. ZL201930556138.3owned by Shenzhen Wanbo, requesting the court to order for stopping the act of infringing the designpatent and making compensation for infringement in the amount of RMB 3.00 million.(II) Petition for invalidation
As of the release date of this report, two cases of petition for invalidation in which the Company isthe patentee are under trial at the National Intellectual Property Administration, involving the patentsZL200810065225.X and ZL201510464408.9. One case (case No.: 6W120359) of petition forinvalidation in which Beijing Fengmi, a subsidiary of the Company, is the patentee is under trial at theNational Intellectual Property Administration, involving the design patent 202130075102.0. In March2022, the subsidiary Beijing Fengmi received a Notice of Termination of Examination on Petition forInvalidation (case No.: 6W120283) from the National Intellectual Property Administration, stating thatthe petitioner had submitted a statement on withdrawing the petition for invalidation, and the trial of thiscase had been terminated.
As of the release date of this Report, the Company, as the petitioner, initiated 3 cases of petition forinvalidation to the National Intellectual Property Administration against Delta Electronics. In January2022, the subsidiary Beijing Fengmi submitted a petition for invalidation (case No.: 6W120711) to theNational Intellectual Property Administration against Shenzhen Wanbo Technology Co., Ltd. concerningthe design patent for the “projector (T6)” (patent No.: 202130243902.9).
IV. Quarterly financial statements(I) Type of audit opinions
□ Applicable √ N/A
(II) Financial statements
Consolidated Balance Sheet
March 31, 2022Prepared by: Appotronics Corporation Limited
In RMB Audit type: Unaudited
| Item | March 31, 2022 | December 31, 2021 |
| Current Assets: | ||
| Cash and bank balances | 893,944,617.32 | 957,729,831.15 |
| Balances with clearing agencies | ||
| Placements with banks and other financial institutions | ||
| Held-for-trading financial assets | 405,070,000.00 | 417,200,000.00 |
| Derivative financial assets | ||
| Notes receivable | 2,606,670.80 | 5,256,603.03 |
| Accounts receivable | 249,432,125.61 | 403,134,471.87 |
| Receivables financing | 514,860.00 | 244,860.00 |
| Prepayments | 96,563,840.23 | 98,116,970.83 |
| Premiums receivable | ||
| Amounts receivable under reinsurance contracts | ||
| Reinsurer’s share of insurance contract reserves | ||
| Other receivables | 31,072,645.86 | 30,472,595.66 |
| Including: Interest receivable | ||
| Dividend receivable | ||
| Financial assets purchased under resale agreements | ||
| Inventories | 935,536,289.44 | 769,621,133.00 |
| Contract assets | 4,169,941.83 | 3,903,859.23 |
| Assets held for sale | ||
| Non-current assets due within one year | 2,688,446.82 | 3,473,049.18 |
| Other current assets | 80,695,678.12 | 52,761,820.83 |
| Total current assets | 2,702,295,116.03 | 2,741,915,194.78 |
| Non-current Assets: | ||
| Loans and advances | ||
| Debt investments | ||
| Other debt investments | ||
| Long-term accounts receivable | 6,615,854.85 | 5,793,552.74 |
| Long-term equity investment | 293,458,118.88 | 293,601,085.27 |
| Investment in other equity instruments | 7,075,419.38 | 7,075,419.38 |
| Other non-current financial assets | ||
| Investment property | ||
| Fixed assets | 468,505,681.65 | 470,410,450.18 |
| Construction in progress | 161,158,824.60 | 148,620,511.35 |
| Productive biological assets |
| Oil and gas assets | ||
| Use right assets | 52,715,114.45 | 26,803,910.76 |
| Intangible assets | 297,728,916.34 | 301,164,605.56 |
| Development expenditure | ||
| Goodwill | ||
| Long-term prepaid expenses | 8,335,147.04 | 10,126,164.82 |
| Deferred tax assets | 65,681,214.69 | 80,721,419.29 |
| Other non-current assets | 15,114,285.55 | 10,998,641.77 |
| Total non-current assets | 1,376,388,577.43 | 1,355,315,761.12 |
| Total assets | 4,078,683,693.46 | 4,097,230,955.90 |
| Current Liabilities: | ||
| Short-term borrowings | 55,570,867.46 | 5,570,878.11 |
| Loans from the central bank | ||
| Taking from banks and other financial institutions | ||
| Held-for-trading financial liabilities | ||
| Derivative financial liabilities | ||
| Notes payable | 163,544,873.77 | 134,378,967.61 |
| Accounts payable | 328,130,174.79 | 419,966,567.27 |
| Advance from customers | 147,276,771.55 | 130,288,312.62 |
| Contract liabilities | 59,693,156.56 | 45,541,629.55 |
| Financial assets sold under repurchase agreements | ||
| Customer deposits and deposits from banks and other financial institutions | ||
| Funds from securities trading agency | ||
| Funds from underwriting securities agency | ||
| Employee benefits payable | 25,691,883.12 | 64,119,087.51 |
| Taxes payable | 29,696,086.83 | 19,546,190.23 |
| Other payables | 35,836,400.43 | 54,115,784.80 |
| Including: Interest payable | ||
| Dividend payable | ||
| Fees and commissions payable | ||
| Amounts payable under reinsurance contracts | ||
| Liabilities held for sale | ||
| Non-current liabilities due within one year | 129,967,297.58 | 154,785,116.35 |
| Other current liabilities | 6,188,785.48 | 19,561,104.12 |
| Total current liabilities | 981,596,297.57 | 1,047,873,638.17 |
| Non-current Liabilities: | ||
| Insurance contract reserves | ||
| Long-term borrowings | 348,486,808.11 | 368,635,614.64 |
| Bonds payable | ||
| Including: Preferred shares | ||
| Perpetual bonds | ||
| Leasing liabilities | 55,683,911.42 | 10,789,352.69 |
| Long-term payables | ||
| Long-term employee benefits payable | ||
| Estimated liabilities | 36,709,808.03 | 36,428,688.94 |
| Deferred income | 9,400,442.21 | 10,266,982.08 |
| Deferred tax liabilities | ||
| Other non-current liabilities | ||
| Total non-current liabilities | 450,280,969.77 | 426,120,638.35 |
| Total liabilities | 1,431,877,267.34 | 1,473,994,276.52 |
| Owners’ Equity (Shareholders’ Equity): | ||
| Paid-in capital (or share capital) | 452,756,901.00 | 452,756,901.00 |
| Other equity instruments | ||
| Including: Preferred shares | ||
| Perpetual bonds | ||
| Capital reserve | 1,417,623,095.46 | 1,400,605,136.65 |
| Less: Treasury shares | ||
| Other comprehensive income | -18,955,308.08 | -16,840,512.60 |
| Special reserve | ||
| Surplus reserve | 56,265,868.31 | 56,265,868.31 |
| General risk reserve | ||
| Undistributed profit | 563,136,102.61 | 545,277,188.08 |
| Total owners’ (or shareholders’) equity attributable to owners of the Parent Company | 2,470,826,659.30 | 2,438,064,581.44 |
| Minority interests | 175,979,766.82 | 185,172,097.94 |
| Total owners’ (or shareholders’) equity | 2,646,806,426.12 | 2,623,236,679.38 |
| Total liabilities and owners’ (or shareholders’) equity | 4,078,683,693.46 | 4,097,230,955.90 |
Legal Representative: LI Yi Chief Accountant: WANG Yingxia Person in Charge of the AccountingBody: WANG Yingxia
Consolidated Income StatementFor the period from January to March 2022Prepared by: Appotronics Corporation Limited
In RMB Audit type: unaudited
| Item | The First Quarter in 2022 | The First Quarter in 2021 |
| I. Total operating income | 525,139,870.53 | 524,967,989.26 |
| Including: Operating income | 525,139,870.53 | 524,967,989.26 |
| Interest income | ||
| Premiums earned | ||
| Fee and commission income | ||
| II. Total operating costs | 523,692,375.90 | 468,379,392.92 |
| Including: Operating costs | 354,352,194.03 | 352,723,171.28 |
| Interest expenses | ||
| Fee and commission expenses | ||
| Surrenders | ||
| Claims and policyholder benefits (net of amounts recoverable from reinsurers) | ||
| Net withdrawal of insurance contract reserves | ||
| Insurance policyholder dividends | ||
| Expenses for reinsurance accepted | ||
| Taxes and additions | 2,776,916.38 | 2,289,691.36 |
| Selling expenses | 54,900,208.42 | 36,732,891.97 |
| Administrative expenses | 54,622,705.64 | 32,052,318.68 |
| R&D expenses | 54,924,987.12 | 44,555,558.17 |
| Financial expenses | 2,115,364.31 | 25,761.46 |
| Including: Interest expense | 5,325,013.75 | 5,017,702.98 |
| Interest income | 3,267,436.22 | 5,330,089.31 |
| Add: Other income | 12,499,685.94 | 14,353,842.94 |
| Investment income (loss is indicated by “-”) | 1,790,753.08 | 4,546,382.37 |
| Including: Income from investments in associates and joint ventures | -1,202,551.48 | 3,610,499.91 |
| Gains from derecognition of financial assets measured at amortized cost | ||
| Foreign exchange gains (loss is indicated by “-”) | ||
| Gains from net exposure hedges (loss is indicated by “-”) | ||
| Gains from changes in fair values (loss is indicated by “-”) | -130,000.00 |
| Losses of credit impairment (loss is indicated by “-”) | 7,933,147.01 | 7,707,743.19 |
| Impairment losses of assets (loss is indicated by “-”) | 1,018,024.96 | -1,714,867.75 |
| Gains from disposal of assets (loss is indicated by “-”) | 3,849.89 | 2,806,103.11 |
| III. Operating profit (loss is indicated by “-”) | 24,562,955.51 | 84,287,800.20 |
| Add: Non-operating income | 79,121.80 | 438,003.45 |
| Less: Non-operating expense | 166,556.20 | 74,302.34 |
| IV. Total profits (total losses are indicated by “-”) | 24,475,521.11 | 84,651,501.31 |
| Less: Income tax expenses | 17,084,893.94 | 20,220,441.99 |
| V. Net profits (net losses are indicated by “-”) | 7,390,627.17 | 64,431,059.32 |
| (I) Categorized by the continuity of operation | ||
| 1. Net profits from continuing operations (net losses are indicated by "-") | 7,390,627.17 | 64,431,059.32 |
| 2. Net profits from discontinued operations (net losses are indicated by “-”) | ||
| (II) Categorized by the ownership | ||
| 1. Net profits attributable to shareholders of the Parent Company (net losses are indicated by "-") | 17,858,914.53 | 54,409,294.00 |
| 2. Profits or losses attributable to minority shareholders (net losses are indicated by “-”) | -10,468,287.36 | 10,021,765.32 |
| VI. Other comprehensive income, net of tax | -2,098,194.75 | -1,030,020.03 |
| (I) Other comprehensive income that can be attributable to owners of the Parent Company, net of tax | -2,114,795.48 | -1,018,143.17 |
| 1. Other comprehensive income that cannot be reclassified subsequently to profit or loss | ||
| (1) Changes from remeasurement of defined benefit plans | ||
| (2) Other comprehensive income that cannot be reclassified to profit or loss under the equity method | ||
| (3) Changes in fair value of investments in other equity instruments | ||
| (4) Changes in fair value of enterprises’ own credit risks | ||
| 2. Other comprehensive income that | -2,114,795.48 | -1,018,143.17 |
| will be reclassified to profit or loss | ||
| (1) Other comprehensive income that will be reclassified to profit or loss under the equity method | -531,438.79 | |
| (2) Changes in fair value of other debt investments | ||
| (3) Amount of financial assets reclassified to other comprehensive income | ||
| (4) Provision for credit impairment of other debt investments | ||
| (5) Reserve for cash flow hedges | ||
| (6) Exchange differences on translation of financial statements denominated in foreign currencies | -1,583,356.69 | -1,018,143.17 |
| (7) Others | ||
| (II) Other comprehensive income that can be attributable to minority shareholders, net of tax | 16,600.73 | -11,876.86 |
| VII. Total comprehensive income | 5,292,432.42 | 63,401,039.29 |
| (I) Total comprehensive income that can be attributable to owners of the Parent Company | 15,744,119.05 | 53,391,150.83 |
| (II) Total comprehensive income that can be attributable to minority shareholders | -10,451,686.63 | 10,009,888.46 |
| VIII. Earnings per share: | ||
| (I) Basic earnings per share (RMB/share) | 0.04 | 0.12 |
| (II) Diluted earnings per share (RMB/share) | 0.04 | 0.12 |
In the event of business combinations involving enterprises under common control, the net profitsrealized prior to the combination by the party being absorbed is: RMB 0, and the net profits realized inthe last period by the party being absorbed is: RMB 0.Legal Representative: LI Yi Chief Accountant: WANG Yingxia Person in Charge of theAccounting Body: WANG Yingxia
Consolidated Cash Flow StatementFor the period from January to March 2022Prepared by: Appotronics Corporation Limited
In RMB Audit type: Unaudited
| Item | The First Quarter in 2022 | The First Quarter in 2021 |
| I. Cash Flows from Operating Activities: | ||
| Cash receipts from the sale of goods | 759,788,663.43 | 747,962,281.72 |
| and the rendering of services | ||
| Net increase in customer deposits and deposits from banks and other financial institutions | ||
| Net increase in loans from the central bank | ||
| Net increase in taking from banks and other financial institutions | ||
| Cash receipts from premiums under direct insurance contracts | ||
| Net cash receipts from reinsurance business | ||
| Net cash receipts from policyholders’ deposits and investment contract liabilities | ||
| Cash receipts from interest, fees and commissions | ||
| Net increase in taking from banks | ||
| Net increase in financial assets sold under repurchase arrangements | ||
| Net cash received from securities trading agencies | ||
| Receipts of tax refunds | 1,653,792.53 | 975,787.81 |
| Other cash receipts relating to operating activities | 19,019,366.32 | 35,073,661.67 |
| Sub-total of cash inflows from operating activities | 780,461,822.29 | 784,011,731.20 |
| Cash payments for goods purchased and services received | 601,723,858.74 | 498,775,867.34 |
| Net increase in loans and advances to customers | ||
| Net increase in balance with the central bank and due from banks and other financial institutions | ||
| Cash payments for claims and policyholders' benefits under direct insurance contracts | ||
| Net increase in placements with banks and other financial institutions | ||
| Cash payments for interest, fees and commissions | ||
| Cash payments for insurance policyholder dividends |
| Cash payments to and on behalf of employees | 131,556,204.70 | 96,357,835.55 |
| Payments of various types of taxes | 21,170,130.47 | 22,526,122.46 |
| Other cash payments relating to operating activities | 94,235,050.84 | 60,128,643.98 |
| Sub-total of cash outflows from operating activities | 848,685,244.75 | 677,788,469.33 |
| Net cash flow from operating activities | -68,223,422.47 | 106,223,261.88 |
| II. Cash Flows from Investing Activities: | ||
| Cash receipts from disposals and recovery of investments | 431,000,000.00 | 114,000,000.00 |
| Cash receipts from investment income | 2,993,304.56 | 935,882.46 |
| Net cash receipts from disposals of fixed assets, intangible assets and other long-term assets | 50.00 | |
| Net cash receipts from disposals of subsidiaries and other business units | ||
| Other cash receipts relating to investing activities | ||
| Sub-total of cash inflows from investing activities | 433,993,354.56 | 114,935,882.46 |
| Cash payments to acquire or construct fixed assets, intangible assets and other long-term assets | 24,223,261.42 | 14,262,405.92 |
| Cash payments to acquire investments | 419,000,000.00 | 148,048,387.32 |
| Net increase in pledged loans receivables | ||
| Net cash payments for acquisitions of subsidiaries and other business units | ||
| Other cash payments relating to investing activities | ||
| Sub-total of cash outflows from investing activities | 443,223,261.42 | 162,310,793.24 |
| Net cash flows from investment activities | -9,229,906.86 | -47,374,910.78 |
| III. Cash Flows from Financing Activities: | ||
| Cash receipts from capital contributions | 22,500,000.00 | |
| Including: Cash receipts from capital contributions from minority | 22,500,000.00 |
| shareholders of subsidiaries | ||
| Cash receipts from borrowings | 62,977,252.77 | 61,489,331.60 |
| Other cash receipts relating to financing activities | ||
| Sub-total of cash inflows from financing activities | 62,977,252.77 | 83,989,331.60 |
| Cash repayments of borrowings | 39,250,545.00 | 87,595,777.45 |
| Cash payments for distribution of dividends or profits or settlement of interest expenses | 5,435,603.29 | 4,677,974.98 |
| Including: Payments for distribution of dividends or profits to minority shareholders of subsidiaries | ||
| Other cash payments relating to financing activities | 6,680,619.57 | 23,777,056.92 |
| Sub-total of cash outflows from financing activities | 51,366,767.86 | 116,050,809.35 |
| Net cash flows from financing activities | 11,610,484.91 | -32,061,477.75 |
| IV. Effect of Foreign Exchange Rate Changes on Cash and Cash Equivalents | -285,263.26 | 670,024.42 |
| V. Net Increase in Cash and Cash Equivalents | -66,128,107.68 | 27,456,897.77 |
| Add: Opening balance of cash and cash equivalents | 891,195,169.00 | 983,525,089.44 |
| VI. Closing Balance of Cash and Cash Equivalents | 825,067,061.32 | 1,010,981,987.21 |
Legal Representative: LI Yi Chief Accountant: WANG Yingxia Person in Charge of theAccounting Body: WANG Yingxia
(III) Description of adjustments in opening balances of line items in financial statements of the year
due to implementation of new accounting standard since 2022
□ Applicable √ N/A
Be it hereby announced
Board of Directors of Appotronics Corporation Limited
April 27, 2022