Section I. Company Information and Key Financial IndicatorsI. Company Profile
| Stock abbreviation | 润丰股份 | Stock code | 301035 |
| Listed on | Shenzhen Stock Exchange | ||
| Chinese name of the Company | SHANDONG WEIFANG RAINBOW CHEMICAL CO.,LTD | ||
| Chinese abbreviation of the Company (if any) | 润丰股份 | ||
| Name of the Company in English (if any) | SHANDONG WEIFANG RAINBOW CHEMICAL CO.,LTD | ||
| Abbreviation of the Company in English (if any) | RAINBOW CHEMICAL | ||
| Legal representative of the Company | Wicky Wang | ||
II. Person/Way to Contact
| Secretary of the board | Securities affairs representative | |
| Name | Xing Bingpeng | Hu Dongju |
| Contact address | 30th Floor, Building 5, Zone 5, Hanyu Financial Center, High-tech Zone, Jinan City, Shandong Province | 30th Floor, Building 5, Zone 5, Hanyu Financial Center, High-tech Zone, Jinan City, Shandong Province |
| Tel | 0531-83199916 | 0531-83199916 |
| Fax | 0531-83191676 | 0531-83191676 |
| rfzqb@rainbowagro.com | rfzqb@rainbowagro.com |
III. Key Accounting Data and Financial Indicators
Whether the Company needs to retroactively adjust or restate the accounting data of previous years? Yes ? No
| H1 2024 | H1 2023 | Year-on-year increase or decrease | |
| Operating income (RMB) | 5,681,756,659.38 | 5,043,502,704.02 | 12.65% |
| Net profit attributable to shareholders of the Company (RMB) | 181,794,252.02 | 424,390,802.78 | -57.16% |
| Net profit attributable to shareholders of the Company excluding non-recurring gains and losses (RMB) | 176,034,252.23 | 419,498,286.91 | -58.04% |
| Net cash flow from operating | -138,751,214.78 | -410,336,682.21 | 66.19% |
activities (RMB)
| activities (RMB) | |||
| Basic earnings per share (RMB/Share) | 0.65 | 1.53 | -57.52% |
| Diluted earnings per share (RMB/Share) | 0.65 | 1.52 | -57.24% |
| Weighted average return on net assets | 2.76% | 6.77% | -4.01% |
| End of this reporting period | End of the previous year | Increase or decrease at the end of this reporting period compared with the end of the previous year | |
| Total assets (RMB) | 15,436,142,454.55 | 14,897,954,098.13 | 3.61% |
| Net assets attributable to shareholders of the Company (RMB) | 6,444,734,939.77 | 6,546,153,851.24 | -1.55% |
IV. Items and Amounts of Non-recurring Gains and Losses? Applicable ? Not applicable
Unit: RMB
| Item | Amount | Notes |
| Gain and loss on disposal of non-current assets (including the write-off portion of asset impairment provision) | 693,251.52 | |
| Government subsidies included in current gains and losses (excluding those closely related to the Company's normal operational business, in compliance with national policies, received according to a determined standard, and having a continuous impact on the Company's profits and losses) | 3,323,943.70 | |
| Gains and losses arising from changes in the fair value of financial assets and financial liabilities held, and the gains and losses from the disposal of these financial assets and liabilities, excluding those related to effective hedging business connected with the Company's normal operations | 442,401.49 | |
| Other non-operating revenue and expenditure other than those mentioned above | 727,061.99 | |
| Other gains and losses items that meet the definition of non-recurring gains and losses | 967,783.00 | |
| Less: affected amount of income tax | 383,346.83 | |
| Affected amount of minority shareholders' equity (after tax) | 11,095.08 |
Total
| Total | 5,759,999.79 |
Other gains and losses items that meet the definition of non-recurring gains and losses:
? Applicable ? Not applicableThe refund of individual income tax handling fees is the only item of other gains and losses that meets the definition of non-recurring gains and losses in the current reporting period.
Section II. Discussion and Analysis of Management of the CompanyI. The Main Business of the Company During the Reporting Period
(I). The situation of the industry during the reporting period
1. Global crop protection market environment in H1 of 2024
(1) The overall demand for crop protection products in the global market has become normal and is on the strong side. Theprices of primary agricultural products remain at a historically reasonable median level. Farmers are willing to use pesticides, andthe planting area of agricultural products has not decreased, indicating that the rigid consumption demand of end consumers forcrop protection products is still there. According to the data from China's Customs for January to June 2024, the export volumeunder HS code 3808 increased by 52.70% year-on-year during this period. This indicates that the global market still has normaleven strong demand for crop protection products.
(2) During the reporting period, the prices of most active ingredients of crop protection products have stabilized at low levels. OnJune 30, 2024, the Sino-Agri price index for pesticide active ingredients was 76.14, representing a year-on-year decrease of
12.6%. However, while it is lower than the 80.19 recorded on December 31, 2023, the decline is relatively modest.
2. Global Crop Protection Market Outlook for 2024
(1) The prices of most crop protection active ingredients will continue to consolidate at the bottom. Most active ingredient priceshave fallen to the new historical lowest level or even below that level, reaching a point where they can hardly decline further.However, due to the expansion and release of pesticide production capacity in China and India over the past three years, mostactive ingredients will continue to be in a situation of oversupply, which means that the prices of most active ingredients willcontinue to consolidate at the bottom.
(2) Product pricing at its historical bottom can fluctuate significantly in the short term as a result of episodic events, which makesit more important to conduct inventory management and market strategy based on accurate decision-making and rapidresponse.
(3) Dealers and end-users are significantly delaying their purchases. Due to the continuous decline in crop protection productprices over the past year and ample market supply, dealers and end-users are postponing their purchasing decisions comparedto normal years. They prefer to wait until the last minute of the application season rather than planning or purchasing in advance,which poses a significant challenge to the supply chain organization of crop protection product sellers.
(4) Market demand will continue to recover, and end-market prices will gradually return to rational levels. As high-costinventories are cleared and previous irrational low-price clear-out sales by various companies significantly decrease, most end-markets are seeing a gradual increase in gross margins due to lower supply-side costs. Gross margins in the second half of theyear are expected to improve compared to the first half.
(5) The competitive landscape among leading global companies is adjusting more rapidly. This is marked by the continuousexpansion of the market share of non-patented crop protection products and the resulting growth acceleration of excellentmultinational companies in the non-patented protection product sector.(II) Company operations during the reporting period
1. Operation analysis for the first half of 2024
(1) Impressive growth in B2C business: During the reporting period, the Company focuses intensively on growing its B2C segment,with B2C revenue share rising from 31.11% in the first half of 2023 to 37.52% in the reporting period. The B2C segment achievesa gross margin of 29.21%, with a year-on-year increase of 0.60%. In contrast, the B2B segment faces intense competition, with agross margin of 14.83% and a year-on-year decrease of 2.45%. The higher revenue share of the B2B segment adversely affectsthe overall gross margin, which declines by 0.58%.
(2) Continued growth in insecticide and fungicide revenue: Revenue from insecticides and fungicides continues to grow, with itsshare increasing from 18.05% in the first half of 2023 to 24.15% in the reporting period. The gross margin for insecticides andfungicides is approximately 6% higher than the Company's traditional high-revenue herbicide category.
(3) Successful launch of new product category – biological products: The Company establishes a strategic plan for biologicalproducts, assembles a dedicated global team, and has successfully launched the first batch of products, which have receivedpositive feedback. We are confident in achieving a revenue target of USD 10 million for 2024.
(4) The Company has significantly increased its investment in IT and process improvements, accelerating enhancements to itsglobal operational capabilities.
(5) The Company continues to increase investment in the B2C business and global registrations, driving the rapid growth of theB2C segment and accelerating the approvals of diverse and high-quality product registrations globally, particularly in high-barriermarkets. We have now secured over 7,000 global registrations.
(6) Rapid growth in EU, North America, and Africa: The Company's Spanish subsidiary SARABIA, acquired in early 2023, and theUS subsidiary APEX, acquired in early 2024, have both integrated successfully and are experiencing rapid growth. We anticipatecontinued strong growth in the EU and North America in the coming years. Our business in Africa, which began expanding in2021, has also entered a rapid growth phase and is expected to continue growing strongly.
(7) Our business in Latin America, Asia-Pacific, and the Middle East is mature and continues to grow. Most countries have seenstable increases in gross and net margins alongside the rising share of our B2C business. However, our business in certaincountries, especially Brazil, has been affected by a large amount of loss of unrealized exchange gains and losses arising fromsignificant currency devaluation, sales seasonality, and high-cost inventory, which have negatively impacted our overallperformance in the first half of this year in these countries.
2. Operational outlook for the second half of 2024
We expect market demand to continue recovering in the second half of 2024, with end-market prices gradually returning tonormal. As our B2C business revenue share continues to grow and our global operational capabilities improve, we anticipate thatthe gross margins of most subsidiaries in target countries will increase, and operational quality will be improved significantly. Thefoundation for the Company's healthy and stable growth remains solid, with a strong growth momentum.We have completed the strategic planning for the next five years (2025-2029) in July and August. This timely planning will ensurethat the Company remains focused on "quality improvement and efficiency enhancement" during industry downturns andintensifying competition. We aim to advance steadily, ensuring health, operational safety, and risk control while strengtheningand expanding our business.All employees will focus on the key tasks of the new strategic plan, aiming to look upward and move forward. We will makebreakthroughs by building five critical capabilities that will become our core competitive strengths: global operational capability,brand and channel development capability, efficient, accurate and agile supply chain decision-making capability, capabilities ofsuccessful commercialization of key products, and high cost-performance and effective differentiated preparations technologycapability.II. Analysis on Main BusinessesOverviewSee related content in "I. The Main Business of the Company During the Reporting Period".Year-on-Year Changes of Key Financial Data
Unit: RMB
| H1 2024 | H1 2023 | Year-on-year increase or decrease | Reason for change | |
| Operating income | 5,681,756,659.38 | 5,043,502,704.02 | 12.65% | |
| Operating cost | 4,532,572,886.98 | 3,994,055,439.67 | 13.48% | |
| Sales expenses | 267,719,127.15 | 150,264,768.24 | 78.16% | Mainly caused by the increase in overseas employee remuneration, registration fees, travel expenses, consulting fees, and promotional expenses during the reporting period |
| Management expenses | 212,412,218.74 | 228,737,334.76 | -7.14% | |
| Financial expenses | 310,963,592.68 | -145,565,636.90 | 313.62% | Mainly caused by significant increase in exchange losses during the reporting period |
| Income tax expenses | 70,960,584.49 | 66,302,826.32 | 7.02% | |
| R&D investment | 150,650,332.37 | 126,654,808.20 | 18.95% | |
| Net cash flow from operating activities | -138,751,214.78 | -410,336,682.21 | 66.19% | Mainly caused by the year-on-year increase in collected payments |
| Net cash flow in investment activities | -354,739,714.20 | -425,349,554.24 | 16.60% | |
| Net cash flow from financing activities | 715,610,089.11 | 423,248,244.58 | 69.08% | Mainly due to the increase in cash received from bank loans |
| Net increase in cash and cash equivalents | 330,323,883.48 | -415,720,363.05 | 179.46% |
Significant changes occurred in the composition or source of profits during the reporting period? Applicable ? Not applicableNo significant change occurred in the composition or source of profits during the reporting period.Circumstances where products or services accounting for more than 10%? Applicable ? Not applicable
Unit: RMB
| Operating income | Operating cost | Gross profit margin | Year-on-year change of operating income | Year-on-year change of operating cost | Year-on-year change of gross profit margin | |
| By product or service | ||||||
| Major product- Herbicide | 4,246,255,524.03 | 3,465,843,830.88 | 18.38% | 4.69% | 6.98% | -1.75% |
| Major product- Insecticide | 791,815,967.12 | 577,099,940.26 | 27.12% | 66.55% | 57.83% | 4.03% |
| Major product- Fungicide | 580,255,873.17 | 451,114,119.00 | 22.26% | 33.48% | 30.53% | 1.75% |
III. Analysis on Non-Major Businesses? Applicable ? Not applicable
Unit: RMB
| Amount | Proportion of total profits | Causes | Whether it is sustainable | |
| Investment returns | 26,115,170.54 | 9.09% | Mainly due to investment gains from the disposal of derivative financial assets | No |
| Profits and losses of changes in fair values | 19,010,682.28 | 6.62% | Mainly due to changes in the fair value of derivative financial assets | No |
| Asset Impairment | -739,835.93 | -0.26% | Mainly due to the provision for inventory depreciation | No |
| Non-operating income | 8,474,865.96 | 2.95% | Mainly due to incomes from scrapping non-current assets | No |
| Non-operating expenses | 6,538,305.03 | 2.28% | Mainly due to making compensation for customer losses caused by quality defects | No |
| Credit impairment | -22,343,322.79 | -7.77% | Mainly caused by credit impairment loss of accounts receivable | No |
| Other income | 3,850,926.70 | 1.34% | Mainly due to government subsidies received | No |
IV. Analysis on Assets and Debts
1. Significant changes in asset composition
Unit: RMB
| End of this reporting period | End of the previous year | Increase/ Decrease in proportion | Notes on significant changes | |||
| Amount | Proportion in total assets | Amount | Proportion in total assets | |||
| Monetary funds | 3,121,731,820.65 | 20.22% | 3,271,577,916.51 | 21.96% | -1.74% | |
| Accounts receivable | 4,585,654,847.59 | 29.71% | 4,707,041,417.82 | 31.60% | -1.89% | |
| Inventory | 3,879,749,709.30 | 25.13% | 3,336,332,619.58 | 22.39% | 2.74% | |
| Investment real estate | 8,200,121.02 | 0.05% | 8,512,192.20 | 0.06% | -0.01% | |
| Long-term equity investment | 1,224,240.06 | 0.01% | 1,445,021.57 | 0.01% | 0.00% | |
Fixed assets
| Fixed assets | 2,178,242,379.43 | 14.11% | 2,008,437,417.28 | 13.48% | 0.63% | |
| Construction in progress | 344,527,308.70 | 2.23% | 395,645,781.60 | 2.66% | -0.43% | |
| Assets with rights of use | 16,886,806.52 | 0.11% | 14,463,991.44 | 0.10% | 0.01% | |
| Short-term loan | 3,140,646,770.51 | 20.35% | 2,261,455,023.95 | 15.18% | 5.17% | Mainly due to the increase in short-term loans in the current period |
| Contract liability | 57,775,336.59 | 0.37% | 29,592,998.73 | 0.20% | 0.17% | |
| Long-term loan | 192,188,307.70 | 1.25% | 77,624,331.91 | 0.52% | 0.73% | |
| Lease liability | 9,205,123.18 | 0.06% | 8,219,602.23 | 0.06% | 0.00% |
2. Main overseas assets
? Applicable ? Not applicable
3. Assets and liabilities measured in fair value
? Applicable ? Not applicable
Unit: RMB ten thousand
| Item | Opening balance | Changes of gain or loss in fair values during the reporting period | Changes in accumulative fair values that are counted into equity | Impairment accrued during the reporting period | Purchase amount during the reporting period | Sales amount during the reporting period | Other changes | Ending Balance |
| Financial assets | ||||||||
| 1. Trading financial assets (derivative financial assets excluded) | 600.00 | 275.26 | 600.00 | 275.26 | ||||
| 2. Derivative financial assets | 1,590.22 | 3,974.88 | 2,489.45 | 1,485.43 | ||||
| Sub-total of financial assets | 600.00 | 1,590.22 | 4,250.14 | 3,089.45 | 1,760.69 | |||
| Receivables financing | 50.00 | 50.00 | 0.00 | |||||
| The above total | 650.00 | 1,590.22 | 4,250.14 | 3,139.45 | 1,760.69 | |||
| Financial debts | 414.16 | 310.85 | 92.22 | |||||
Other changesWhether there is any significant change to the Company's main asset measurements during the reporting period? Yes ? No
V. The Company's Profit Distribution and Conversion of Capital Reserve Fund into ShareCapital During the Reporting Period? Applicable ? Not applicable
| Bonus shares per 10 shares (shares) | 0 |
| Dividends per 10 shares (RMB) (tax-inclusive) | 1.80 |
| Share capital base of the distribution plan (shares) | 278,662,094 |
| Cash dividend amount (RMB) (tax-inclusive) | 50,159,176.92 |
| Amount of cash dividends in other ways (such as share repurchase) (RMB) | 0.00 |
| Total cash dividends (including other ways) (RMB) | 50,159,176.92 |
| Distributable profit (RMB) | 1,781,950,331.05 |
| Proportion of total cash dividends (including other ways) in total distributable profit | 100.00% |
| Details of the cash dividends distribution | |
| If the development phase of the Company is in the growth phase and there exist material capital expenditure arrangements, when making profit distribution, the proportion of cash dividends in this profit distribution shall be at least 20% | |
| Details of the plan for profit distribution or capital reserve converted into share capital | |
| Based on the total share capital of 278,662,094 shares on July 30, 2024, a cash dividend of RMB 1.80 (tax inclusive) will be distributed to all shareholders for every 10 shares, and the remaining undistributed profits will be carried forward to the second half of this year. Except for the above-mentioned cash dividend distribution, no share dividend is distributed this time, and there is no conversion of capital reserve into share capital. | |
Section III. Financial Report
I. Audit ReportWhether the Half-Year Report is audited? Yes ? NoThe Company's Half-Year Report has not been audited.II. Financial Statements
The currency of the statements in the financial notes is: RMB
1. Consolidated balance sheet
Prepared by: Shandong Weifang Rainbow Chemical Co., Ltd.
Sunday, June 30, 2024
Unit: RMB
| Item | Closing balance | Opening balance |
| Current assets: | ||
| Monetary funds | 3,121,731,820.65 | 3,271,577,916.51 |
| Deposit reservation for balance |
Lending to banks and other financialinstitutions
| Lending to banks and other financial institutions | ||
| Financial assets held for trading | 2,752,592.53 | 6,000,000.00 |
| Derivative financial assets | 14,854,334.92 | |
| Notes receivable | 15,874,927.66 | 55,955,879.66 |
| Accounts receivable | 4,585,654,847.59 | 4,707,041,417.82 |
| Receivables financing | 500,000.00 | |
| Pre-payments | 175,108,524.23 | 129,020,462.65 |
| Premium receivable | ||
| Re-insurance accounts receivable | ||
| Reserves for re-insurance contract receivable | ||
| Other receivables | 90,704,763.23 | 44,646,181.87 |
| Including.: interest receivable | ||
| Dividends receivable | ||
| Financial assets purchased under resale agreement | ||
| Inventory | 3,879,749,709.30 | 3,336,332,619.58 |
| Where: Data resource | ||
| Contracted assets | ||
| Assets held for sale | ||
| Non-current assets that mature within one year | ||
| Other current assets | 286,410,808.65 | 329,901,506.56 |
| Total current assets | 12,172,842,328.76 | 11,880,975,984.65 |
| Non-current assets: | ||
| Disbursed loans and advances | ||
| Debt investments | ||
| Other debt investment | ||
| Long-term receivables | ||
| Long-term equity investment | 1,224,240.06 | 1,445,021.57 |
| Other equity instrument investment | ||
| Other non-current financial assets | ||
| Investment real estate | 8,200,121.02 | 8,512,192.20 |
| Fixed assets | 2,178,242,379.43 | 2,008,437,417.28 |
| Construction in progress | 344,527,308.70 | 395,645,781.60 |
| Productive biological assets | ||
| Oil and gas assets | ||
| Assets with rights of use | 16,886,806.52 | 14,463,991.44 |
| Intangible assets | 205,334,544.65 | 214,122,877.97 |
| Where: Data resource | ||
| Development expenditure | 115,599,813.72 | 36,791,601.49 |
| Where: Data resource |
Goodwill
| Goodwill | 94,866,025.56 | 94,866,025.56 |
| Long-term deferred expenses | 22,223,240.38 | 34,125,613.10 |
| Deferred income tax assets | 125,985,300.04 | 117,262,810.63 |
| Other non-current assets | 150,210,345.71 | 91,304,780.64 |
| Total non-current assets | 3,263,300,125.79 | 3,016,978,113.48 |
| Total assets | 15,436,142,454.55 | 14,897,954,098.13 |
| Current liabilities: | ||
| Short-term loan | 3,140,646,770.51 | 2,261,455,023.95 |
| Borrowings from the central bank | ||
| Borrowing from banks and financial institutions | ||
| Financial liabilities held for trading | ||
| Derivative financial liabilities | 922,206.24 | 4,141,579.45 |
| Notes payable | 3,186,508,732.46 | 4,057,148,069.12 |
| Accounts payable | 1,553,001,526.45 | 1,096,628,295.09 |
| Advance receipts | 212,056.37 | 232,358.87 |
| Contract liability | 57,775,336.59 | 29,592,998.73 |
| Financial assets sold for repurchase | ||
| Deposits and interbank deposits received | ||
| Amount received from agency trading of securities | ||
| Amount received from agency underwriting of securities | ||
| Payroll payable | 152,187,735.62 | 218,457,162.23 |
| Taxes payable | 63,424,887.74 | 77,730,510.55 |
| Other payables | 167,519,684.40 | 81,107,290.26 |
| Including: Interests payable | ||
| Dividends payable | ||
| Charges and commissions payable | ||
| Re-insurance accounts payable | ||
| Liabilities held for sale | ||
| Non-current liabilities due within one year | 67,791,640.40 | 9,623,075.76 |
| Other current liabilities | 1,247,007.73 | 57,442,707.33 |
| Total current liabilities | 8,391,237,584.51 | 7,893,559,071.34 |
| Non-current liabilities: | ||
| Provision for insurance contracts | ||
| Long-term loan | 192,188,307.70 | 77,624,331.91 |
| Bonds payable | ||
| Including: Preferred shares | ||
| Perpetual bonds | ||
| Lease liability | 9,205,123.18 | 8,219,602.23 |
Long-term payables
| Long-term payables | ||
| Long-term payroll payable | ||
| Accrued liabilities | ||
| Deferred income | 10,777,796.13 | 11,713,887.21 |
| Deferred income tax liabilities | 59,828,236.73 | 67,145,243.72 |
| Other non-current liabilities | ||
| Total non-current liabilities | 271,999,463.74 | 164,703,065.07 |
| Total liabilities | 8,663,237,048.25 | 8,058,262,136.41 |
| Owner’s equity: | ||
| Share capital | 278,662,094.00 | 278,662,094.00 |
| Other equity instruments | ||
| Including: Preferred shares | ||
| Perpetual bonds | ||
| Capital reserve | 2,393,443,152.29 | 2,382,932,252.27 |
| Less: Treasury stock | ||
| Other comprehensive income | -76,676,697.01 | -53,797,771.67 |
| Special reserve | 46,413,216.36 | 38,596,260.53 |
| Surplus reserve | 158,674,657.07 | 158,674,657.07 |
| General risk reserve | ||
| Undistributed profit | 3,644,218,517.06 | 3,741,086,359.04 |
| Total owners' equity attributed to parent company | 6,444,734,939.77 | 6,546,153,851.24 |
| Minority shareholder’s interest | 328,170,466.53 | 293,538,110.48 |
| Total owner’s equity | 6,772,905,406.30 | 6,839,691,961.72 |
| Total liabilities and owners’ equity | 15,436,142,454.55 | 14,897,954,098.13 |
| Legal Representative: Wicky Wang | Chief Accountant in Charge: Xing Bingpeng | Chief of Accounting Institution: Zhang Baolin |
2. Parent company balance sheet
Unit: RMB
| Item | Closing balance | Opening balance |
| Current assets: | ||
| Monetary funds | 1,613,777,089.29 | 2,068,062,646.26 |
| Financial assets held for trading | 0.00 | 0.00 |
| Derivative financial assets | 0.00 | 0.00 |
| Notes receivable | 287,192.00 | 8,126,473.00 |
| Accounts receivable | 5,553,962,493.32 | 4,702,695,819.76 |
| Receivables financing | 0.00 | 500,000.00 |
| Pre-payments | 204,793,180.03 | 128,913,766.54 |
| Other receivables | 382,277,459.97 | 827,880,813.07 |
| Including.: interest receivable | 0.00 | 0.00 |
| Dividends receivable | 0.00 | 0.00 |
| Inventory | 719,071,212.50 | 734,862,014.63 |
| Where: Data resource | ||
| Contracted assets | 0.00 | 0.00 |
Assets held for sale
| Assets held for sale | 0.00 | 0.00 |
| Non-current assets that mature within one year | 0.00 | 0.00 |
| Other current assets | 47,176,231.11 | 103,249,615.62 |
| Total current assets | 8,521,344,858.22 | 8,574,291,148.88 |
| Non-current assets: | ||
| Debt investments | 0.00 | 0.00 |
| Other debt investment | 0.00 | 0.00 |
| Long-term receivables | 0.00 | 0.00 |
| Long-term equity investment | 624,321,060.99 | 624,541,993.45 |
| Other equity instrument investment | 0.00 | 0.00 |
| Other non-current financial assets | 0.00 | 0.00 |
| Investment real estate | 0.00 | 0.00 |
| Fixed assets | 1,041,859,022.15 | 970,475,370.21 |
| Construction in progress | 172,055,821.77 | 212,411,472.76 |
| Productive biological assets | 0.00 | 0.00 |
| Oil and gas assets | 0.00 | 0.00 |
| Assets with rights of use | 12,688,714.52 | 10,618,846.96 |
| Intangible assets | 38,186,270.00 | 39,286,592.63 |
| Where: Data resource | ||
| Development expenditure | 107,509,528.91 | 36,742,669.45 |
| Where: Data resource | ||
| Goodwill | 0.00 | 0.00 |
| Long-term deferred expenses | 3,311,926.61 | 3,428,134.55 |
| Deferred income tax assets | 24,036,804.78 | 23,421,436.66 |
| Other non-current assets | 53,757,938.07 | 42,380,243.97 |
| Total non-current assets | 2,077,727,087.80 | 1,963,306,760.64 |
| Total assets | 10,599,071,946.02 | 10,537,597,909.52 |
| Current liabilities: | ||
| Short-term loan | 1,940,281,056.93 | 1,530,311,475.46 |
| Financial liabilities held for trading | 0.00 | 0.00 |
| Derivative financial liabilities | 0.00 | 0.00 |
| Notes payable | 2,310,892,647.60 | 3,173,804,324.86 |
| Accounts payable | 992,983,195.05 | 621,509,251.91 |
| Advance receipts | 0.00 | 0.00 |
| Contract liability | 11,159,157.91 | 8,721,263.54 |
| Payroll payable | 90,268,262.53 | 144,232,179.83 |
| Taxes payable | 8,246,618.13 | 3,769,917.28 |
| Other payables | 405,189,765.63 | 180,960,439.96 |
| Including: Interests payable | 0.00 | 0.00 |
| Dividends payable | 0.00 | 0.00 |
| Liabilities held for sale | 0.00 | 0.00 |
Non-current liabilities due within oneyear
| Non-current liabilities due within one year | 4,560,445.18 | 8,261,043.80 |
| Other current liabilities | 1,247,007.73 | 9,385,795.08 |
| Total current liabilities | 5,764,828,156.69 | 5,680,955,691.72 |
| Non-current liabilities: | ||
| Long-term loan | 150,000,000.00 | 0.00 |
| Bonds payable | 0.00 | 0.00 |
| Including: Preferred shares | 0.00 | 0.00 |
| Perpetual bonds | 0.00 | 0.00 |
| Lease liability | 4,871,430.46 | 4,862,142.34 |
| Long-term payables | 0.00 | 0.00 |
| Long-term payroll payable | 0.00 | 0.00 |
| Accrued liabilities | 0.00 | 0.00 |
| Deferred income | 1,272,004.54 | 1,474,705.66 |
| Deferred income tax liabilities | 43,494,641.66 | 43,494,641.66 |
| Other non-current liabilities | 0.00 | 0.00 |
| Total non-current liabilities | 199,638,076.66 | 49,831,489.66 |
| Total liabilities | 5,964,466,233.35 | 5,730,787,181.38 |
| Owner’s equity: | ||
| Share capital | 278,662,094.00 | 278,662,094.00 |
| Other equity instruments | 0.00 | 0.00 |
| Including: Preferred shares | 0.00 | 0.00 |
| Perpetual bonds | 0.00 | 0.00 |
| Capital reserve | 2,400,240,106.19 | 2,389,729,206.17 |
| Less: Treasury stock | 0.00 | 0.00 |
| Other comprehensive income | 0.00 | 0.00 |
| Special reserve | 15,078,524.36 | 13,004,013.98 |
| Surplus reserve | 158,674,657.07 | 158,674,657.07 |
| Undistributed profit | 1,781,950,331.05 | 1,966,740,756.92 |
| Total owner’s equity | 4,634,605,712.67 | 4,806,810,728.14 |
| Total liabilities and owners’ equity | 10,599,071,946.02 | 10,537,597,909.52 |
3. Consolidated income statement
Unit: RMB
| Item | First half year of 2024 | First half year of 2023 |
| I. Gross Operating Income | 5,681,756,659.38 | 5,043,502,704.02 |
| Including: Operating income | 5,681,756,659.38 | 5,043,502,704.02 |
| Interest income | ||
| Premium earned | ||
| Handling charges and commissions income | ||
| II. Total Operating Costs | 5,422,424,326.73 | 4,366,319,713.41 |
| Including: Costs of business | 4,532,572,886.98 | 3,994,055,439.67 |
| Interest expenses | ||
| Handling charges and commission |
expenses
| expenses | ||
| Surrender value | ||
| Net payments for insurance claims | ||
| Net withdrawal of reserve for insurance responsibility contracts | ||
| Expenditures of policy dividend | ||
| Re-insurance expense | ||
| Taxes and surcharges | 26,914,381.04 | 12,172,999.44 |
| Sales expenses | 267,719,127.15 | 150,264,768.24 |
| Management expenses | 212,412,218.74 | 228,737,334.76 |
| R&D expenditures | 71,842,120.14 | 126,654,808.20 |
| Financial expenses | 310,963,592.68 | -145,565,636.90 |
| Including: Interest expenses | 58,196,033.29 | 18,521,750.06 |
| Interest income | 22,157,882.37 | 25,979,037.84 |
| Add: Other incomes | 3,850,926.70 | 5,541,198.21 |
| Income from investment ("-" for loss) | 26,115,170.54 | -138,011,157.94 |
| Including: Income from investment in associated enterprises and joint ventures | -220,781.51 | -224,332.54 |
| Income recognized at termination of financial assets measured at amortized cost | ||
| Foreign exchange gain ("-" for loss) | ||
| Net exposure hedging income ("-" for loss) | ||
| Income from changes in fair value ("-" for loss) | 19,010,682.28 | -29,696,287.71 |
| Credit impairment losses ("-" for loss) | -22,343,322.79 | 7,648,337.17 |
| Asset impairment losses ("-" for loss) | -739,835.93 | -3,911,947.90 |
| Gains from asset disposal ("-" for loss) | 224,678.18 | -442,817.59 |
| III. Operating profit ("-" for loss) | 285,450,631.63 | 518,310,314.85 |
| Add: Non-operating income | 8,474,865.96 | 6,288,109.44 |
| Less: Non-operating expenses | 6,538,305.03 | 6,560,502.52 |
| IV. Total profit ("-" for total loss) | 287,387,192.56 | 518,037,921.77 |
| Less: Income tax expenses | 70,960,584.49 | 66,302,826.32 |
| V. Net profit ("-" for net loss) | 216,426,608.07 | 451,735,095.45 |
| (I) Classification by business continuity | ||
| 1. Net profit from continuing operations ("-" for net loss) | 216,426,608.07 | 451,735,095.45 |
| 2. Net profit from discontinued operations ("-" for net loss) | ||
| (II) Classification by ownership | ||
| 1. Net profit attributable to shareholders of the parent company ("-" for net loss) | 181,794,252.02 | 424,390,802.78 |
| 2. Profit and loss of minority shareholders ("-" for net loss) | 34,632,356.05 | 27,344,292.67 |
| VI. Net amount after tax of other | -22,878,925.34 | 15,286,792.86 |
comprehensive income
| comprehensive income | ||
| Net amount of other comprehensive income after tax attributed to the owners of parent company | -22,878,925.34 | 6,814,695.35 |
| (I) Other comprehensive income that cannot be reclassified into profit or loss | ||
| 1. Changes due to re-measurement on defined benefit plan | ||
| 2. Other comprehensive income that cannot be converted into profit and loss under the equity method | ||
| 3. Changes in fair value of other equity instrument investments | ||
| 4. Changes in the fair value of the credit risk of the enterprise | ||
| 5. Other | ||
| (ii) Other comprehensive income that will be reclassified into profit and loss | -22,878,925.34 | 6,814,695.35 |
| 1. Other comprehensive income that can be converted to profit or loss under the equity method | ||
| 2. Changes in fair value for other investment on bonds | ||
| 3. Amount of financial assets reclassified into other comprehensive income | ||
| 4. Provision for credit impairment of other creditor's rights investment | ||
| 5. Cash flow hedge reserve | ||
| 6. Difference of foreign currency financial statement translation | -22,878,925.34 | 6,814,695.35 |
| 7. Other | ||
| Net amount of other comprehensive income after tax attributed to minority shareholders | 0.00 | 8,472,097.51 |
| VII. Total comprehensive income | 193,547,682.73 | 467,021,888.31 |
| Total comprehensive income attributed to parent company owners | 158,915,326.68 | 431,205,498.13 |
| Total comprehensive income attributed to minority shareholders | 34,632,356.05 | 35,816,390.18 |
| VIII. Earnings per Share: | ||
| (i) Basic earnings per share | 0.65 | 1.53 |
| (ii) Diluted earnings per share | 0.65 | 1.52 |
For business combination under the same control in the current period, the net profit of the merged party before the businesscombination is RMB , and the net profit of the merged party in the previous period is RMB .
| Legal Representative: Wicky Wang | Chief Accountant in Charge: Xing Bingpeng | Chief of Accounting Institution: Zhang Baolin |
4. Income statement of the parent company
Unit: RMB
| Item | First half year of 2024 | First half year of 2023 |
| I. Operating income | 3,776,707,791.28 | 3,752,460,171.54 |
| Less: operating cost | 3,507,244,191.11 | 3,176,969,600.08 |
| Taxes and surcharges | 6,281,374.35 | 4,240,898.12 |
| Sales expenses | 67,879,398.57 | 73,912,445.93 |
| Management expenses | 67,066,449.58 | 101,070,285.87 |
| R&D expenditures | 63,929,706.30 | 106,993,024.19 |
| Financial expenses | -33,901,338.44 | -76,293,760.31 |
| Including: Interest expenses | 29,851,977.51 | 5,146,390.60 |
| Interest income | 13,531,089.54 | 19,349,574.45 |
| Add: Other incomes | 2,356,305.96 | 1,683,129.45 |
| Income from investment ("-" for loss) | 18,562,000.78 | -130,089,232.64 |
| Including: Income from investment in associated enterprises and joint ventures | -220,781.51 | -224,332.54 |
| Income recognized at termination of financial assets measured at amortized cost | ||
| Net exposure hedging income ("-" for loss) | ||
| Income from changes in fair value ("-" for loss) | 2,721,440.50 | |
| Credit impairment losses ("-" for loss) | -8,432,236.26 | -1,199,960.04 |
| Asset impairment losses ("-" for loss) | 93,739.98 | 721,452.06 |
| Gains from asset disposal ("-" for loss) | 5,559.91 | |
| II. Operating profit ("-" for loss) | 110,793,380.18 | 239,404,506.99 |
| Add: Non-operating income | 2,412,960.61 | 2,352,570.26 |
| Less: Non-operating expenses | 3,563,425.21 | 3,167,383.13 |
| III. Total profit ("-" for total loss) | 109,642,915.58 | 238,589,694.12 |
| Less: Income tax expenses | 15,771,247.48 | 27,555,811.19 |
| IV. Net profit ("-" for net loss) | 93,871,668.10 | 211,033,882.93 |
| (I) Net profit from continuing operations ("-" for net loss) | 93,871,668.10 | 211,033,882.93 |
| (II) Net profit from discontinued operations ("-" for net loss) | ||
| V. Other comprehensive income, net of taxes | ||
| (I) Other comprehensive income that cannot be reclassified into profit or loss | ||
| 1. Changes due to re-measurement on defined benefit plan | ||
| 2. Other comprehensive income that cannot be converted into profit and loss |
under the equity method
| under the equity method | ||
| 3. Changes in fair value of other equity instrument investments | ||
| 4. Changes in the fair value of the credit risk of the enterprise | ||
| 5. Other | ||
| (ii) Other comprehensive income that will be reclassified into profit and loss | ||
| 1. Other comprehensive income that can be converted to profit or loss under the equity method | ||
| 2. Changes in fair value for other investment on bonds | ||
| 3. Amount of financial assets reclassified into other comprehensive income | ||
| 4. Provision for credit impairment of other creditor's rights investment | ||
| 5. Cash flow hedge reserve | ||
| 6. Difference of foreign currency financial statement translation | ||
| 7. Other | ||
| VI. Total comprehensive income | 93,871,668.10 | 211,033,882.93 |
| VII. Earnings per share: | ||
| (i) Basic earnings per share | ||
| (ii) Diluted earnings per share |
5. Consolidated cash flow statement
Unit: RMB
| Item | First half year of 2024 | First half year of 2023 |
| I. Cash Flows Generated from Operating Activities: | ||
| Cash received from sales of goods and services | 6,098,881,356.71 | 5,209,507,192.15 |
| Net increase in deposit from customers and interbank | ||
| Net increase in borrowing from central bank | ||
| Net increase in borrowings from other financial institutions | ||
| Cash receipts from premiums under direct insurance contracts | ||
| Net cash receipts from re-insurance business | ||
| Net cash receipts from policyholders' deposits and investments | ||
| Cash receipts from interest, handling fees and commissions | ||
| Net increase in capital borrowed from banks and other financial institutions | ||
| Net increase in repurchase business capital | ||
| Net cash received from securities |
trading brokerage
| trading brokerage | ||
| Cash receipts from tax refunds | 390,028,063.11 | 366,285,872.74 |
| Cash received relating to other operating activities | 115,824,970.74 | 37,137,117.11 |
| Subtotal of cash inflow in business activities | 6,604,734,390.56 | 5,612,930,182.00 |
| Cash payments for goods acquired and services received | 5,799,850,517.80 | 5,149,241,199.50 |
| Net increase in customer loans and advances | ||
| Net increase in deposits in central bank and interbank | ||
| Cash payments for original insurance contract claims | ||
| Net increase in lending funds from banks and other financial institutions | ||
| Cash payments for interest, fee and commission | ||
| Cash payments for insurance policyholder dividends | ||
| Cash payments to employees and on behalf of employees | 474,840,586.27 | 355,664,363.13 |
| Cash payments for taxes | 153,815,653.42 | 153,361,010.96 |
| Other cash payments relating to operating activities | 314,978,847.85 | 365,000,290.62 |
| Subtotal of cash outflow in business activities | 6,743,485,605.34 | 6,023,266,864.21 |
| Net cash flow from operating activities | -138,751,214.78 | -410,336,682.21 |
| II. Cash Flows from Investing Activities: | ||
| Cash receipts from investment withdrawal | ||
| Cash receipts from return on investments | ||
| Net cash receipts from disposals of fixed assets, intangible assets and other long-term assets | 25,129,385.57 | 1,512,492.93 |
| Net cash receipts from disposal of subsidiary or any other business unit | ||
| Other cash receipts relating to investing activities | 28,976,011.37 | |
| Subtotal of cash inflow in investment activities | 54,105,396.94 | 1,512,492.93 |
| Cash payments to acquire or construct fixed assets, intangible assets and other long-term assets | 408,845,111.14 | 292,265,778.15 |
| Cash payments for investment | ||
| Net increase in pledged loans | ||
| Net cash payments to acquire subsidiary and other business units | ||
| Other cash payments relating to investment activities | 134,596,269.02 | |
| Subtotal of cash outflow in investment activities | 408,845,111.14 | 426,862,047.17 |
Net cash flow in investment activities
| Net cash flow in investment activities | -354,739,714.20 | -425,349,554.24 |
| III. Cash Flows from Financing Activities: | ||
| Cash received from capital contributions | ||
| Including: Cash received from investment of minority shareholder from subsidiary | ||
| Cash receipts from borrowings | 2,818,924,833.84 | 643,103,333.82 |
| Other cash receipts relating to financing activities | 367,622,937.23 | |
| Subtotal of cash inflow in financing activities | 2,818,924,833.84 | 1,010,726,271.05 |
| Cash repayments of borrowings | 1,766,456,617.44 | 155,414,609.48 |
| Cash payments for distribution of dividends, profits, or cash payments for interest expenses | 336,858,127.29 | 432,063,416.99 |
| Including: Dividends and profits paid to minority shareholders by subsidiaries | ||
| Other cash paid related to financing activities | ||
| Subtotal of cash outflow in financing activities | 2,103,314,744.73 | 587,478,026.47 |
| Net cash flow from financing activities | 715,610,089.11 | 423,248,244.58 |
| IV. Effect of Exchange Rate Changes on Cash and Cash Equivalents | 108,204,723.35 | -3,282,371.18 |
| V. Net Increase in Cash and Cash Equivalents | 330,323,883.48 | -415,720,363.05 |
| Add: Beginning balance of cash and cash equivalents | 1,185,554,395.09 | 2,076,062,785.79 |
| VI. Closing Balance of Cash and Cash Equivalents | 1,515,878,278.57 | 1,660,342,422.74 |
6. Cash flow statement of the parent company
Unit: RMB
| Item | First half year of 2024 | First half year of 2023 |
| I. Cash Flows Generated from Operating Activities: | ||
| Cash received from sales of goods and services | 3,017,021,578.12 | 3,764,322,572.59 |
| Cash receipts from tax refunds | 315,650,646.17 | 282,124,895.16 |
| Cash received relating to other operating activities | 386,675,610.32 | 57,423,972.12 |
| Subtotal of cash inflow in business activities | 3,719,347,834.61 | 4,103,871,439.87 |
| Cash payments for goods acquired and services received | 2,657,901,466.52 | 3,769,545,098.51 |
| Cash payments to employees and on behalf of employees | 201,124,025.91 | 228,681,544.43 |
| Cash payments for taxes | 46,568,226.23 | 53,248,479.32 |
| Other cash payments relating to operating activities | 994,641,806.92 | 468,420,296.63 |
| Subtotal of cash outflow in business activities | 3,900,235,525.58 | 4,519,895,418.89 |
| Net cash flow from operating activities | -180,887,690.97 | -416,023,979.02 |
II. Cash Flows from Investing Activities:
| II. Cash Flows from Investing Activities: | ||
| Cash receipts from investment withdrawal | ||
| Cash receipts from return on investments | ||
| Net cash receipts from disposals of fixed assets, intangible assets and other long-term assets | 308,286.60 | 2,468,815.63 |
| Net cash receipts from disposal of subsidiary or any other business unit | ||
| Other cash receipts relating to investing activities | 18,603,136.95 | |
| Subtotal of cash inflow in investment activities | 18,911,423.55 | 2,468,815.63 |
| Cash payments to acquire or construct fixed assets, intangible assets and other long-term assets | 146,426,522.21 | 211,451,033.47 |
| Cash payments for investment | ||
| Net cash payments to acquire subsidiary and other business units | ||
| Other cash payments relating to investment activities | 512,833.96 | 129,864,900.10 |
| Subtotal of cash outflow in investment activities | 146,939,356.17 | 341,315,933.57 |
| Net cash flow in investment activities | -128,027,932.62 | -338,847,117.94 |
| III. Cash Flows from Financing Activities: | ||
| Cash received from capital contributions | ||
| Cash receipts from borrowings | 2,023,710,035.75 | 461,930,020.30 |
| Other cash receipts relating to financing activities | 1,202,628.69 | 353,486,465.55 |
| Subtotal of cash inflow in financing activities | 2,024,912,664.44 | 815,416,485.85 |
| Cash repayments of borrowings | 1,468,138,593.88 | 155,066,307.66 |
| Cash payments for distribution of dividends, profits, or cash payments for interest expenses | 307,654,408.71 | 424,716,774.32 |
| Other cash paid related to financing activities | ||
| Subtotal of cash outflow in financing activities | 1,775,793,002.59 | 579,783,081.98 |
| Net cash flow from financing activities | 249,119,661.85 | 235,633,403.87 |
| IV. Effect of Exchange Rate Changes on Cash and Cash Equivalents | 39,648,688.36 | 13,876,340.98 |
| V. Net Increase in Cash and Cash Equivalents | -20,147,273.38 | -505,361,352.11 |
| Add: Beginning balance of cash and cash equivalents | 472,609,515.86 | 1,201,820,433.48 |
| VI. Closing Balance of Cash and Cash Equivalents | 452,462,242.48 | 696,459,081.37 |
7. Consolidated statement of changes in owners' equity
Amount in the current period
Unit: RMB
| Item | First half year of 2024 | ||||||||||||||
| Equity attributed to owners of the parent company | Minority shareholder’s interest | Total owner’s equity | |||||||||||||
| Share capital | Other equity instruments | Capital reserve | Less: Treasury stock | Other comprehensive income | Special reserve | Surplus reserve | General risk reserve | Undistributed profit | Other | Subtotal | |||||
| Preferred shares | Perpetual bonds | Other | |||||||||||||
| I. Balance at the end of the previous year: | 278,662,094.00 | 2,382,932,252.27 | -53,797,771.67 | 38,596,260.53 | 158,674,657.07 | 3,741,086,359.04 | 6,546,153,851.24 | 293,538,110.48 | 6,839,691,961.72 | ||||||
| Add: Changes in accounting policies | |||||||||||||||
| Correction of errors from previous period | |||||||||||||||
| Other | |||||||||||||||
| II. Opening balance of the current year | 278,662,094.00 | 2,382,932,252.27 | -53,797,771.67 | 38,596,260.53 | 158,674,657.07 | 3,741,086,359.04 | 6,546,153,851.24 | 293,538,110.48 | 6,839,691,961.72 | ||||||
| III. Changes in Current Period (“-” for decrease) | 10,510,900.02 | -22,878,925.34 | 7,816,955.83 | -96,867,841.98 | -101,418,911.47 | 34,632,356.05 | -66,786,555.42 | ||||||||
| (I) Total comprehensive income | -22,878,925.34 | 181,794,252.02 | 158,915,326.68 | 34,632,356.05 | 193,547,682.73 | ||||||||||
| (II) Capital contribution and reduction by owners | 10,510,900.02 | 10,510,900.02 | 10,510,900.02 | ||||||||||||
| 1. Ordinary shares invested by owners | 0.00 | ||||||||||||||
| 2. Capital contributed from other equity instrument holders | 0.00 | ||||||||||||||
| 3. Amounts of share-based payments recognized in owners' | 10,510,900.02 | 10,510,900.02 | 10,510,900.02 | ||||||||||||
equity
| equity | |||||||||||||||
| 4. Other | 0.00 | ||||||||||||||
| (III) Profit distribution | -278,662,094.00 | -278,662,094.00 | -278,662,094.00 | ||||||||||||
| 1. Appropriation of surplus reserve | 0.00 | ||||||||||||||
| 2. Appropriation of general risk reserve | 0.00 | ||||||||||||||
| 3. Distribution to owners (or shareholders) | -278,662,094.00 | -278,662,094.00 | -278,662,094.00 | ||||||||||||
| 4. Other | |||||||||||||||
| (IV) Internal carry-over of owners' equity | 0.00 | ||||||||||||||
| 1. Capital reserve converted into capital (or share capital) | 0.00 | ||||||||||||||
| 2. Surplus reserve converted into capital (or share capital) | 0.00 | ||||||||||||||
| 3. Recovery of losses by surplus reserves | 0.00 | ||||||||||||||
| 4. Carry-over retained earnings from defined benefit plan changes | 0.00 | ||||||||||||||
| 5. Carry-over retained earnings from other comprehensive income | 0.00 | ||||||||||||||
| 6. Other | 0.00 | ||||||||||||||
| (V) Special reserves | 7,816,955.83 | 7,816,955.83 | 7,816,955.83 |
1. Withdrawal
in the currentperiod
| 1. Withdrawal in the current period | 20,775,360.08 | 20,775,360.08 | 20,775,360.08 | ||||||||||||
| 2. Use in the current period | -12,958,404.25 | -12,958,404.25 | -12,958,404.25 | ||||||||||||
| (VI) Other | |||||||||||||||
| IV. Balance at the end of the current period | 278,662,094.00 | 2,393,443,152.29 | -76,676,697.01 | 46,413,216.36 | 158,674,657.07 | 3,644,218,517.06 | 6,444,734,939.77 | 328,170,466.53 | 6,772,905,406.30 |
Amount of previous year
Unit: RMB
| Item | First half year of 2023 | ||||||||||||||
| Equity attributed to owners of the parent company | Minority shareholder’s interest | Total owner’s equity | |||||||||||||
| Share capital | Other equity instruments | Capital reserve | Less: Treasury stock | Other comprehensive income | Special reserve | Surplus reserve | General risk reserve | Undistributed profit | Other | Subtotal | |||||
| Preferred shares | Perpetual bonds | Other | |||||||||||||
| I. Balance at the end of the previous year: | 277,115,744.00 | 2,301,293,600.92 | 5,821,782.13 | 19,551,007.62 | 158,674,657.07 | 3,421,808,374.82 | 6,184,265,166.56 | 202,957,841.25 | 6,387,223,007.81 | ||||||
| Add: Changes in accounting policies | |||||||||||||||
| Correction of errors from previous period | |||||||||||||||
| Other | |||||||||||||||
| II. Opening balance of the current year | 277,115,744.00 | 2,301,293,600.92 | 5,821,782.13 | 19,551,007.62 | 158,674,657.07 | 3,421,808,374.82 | 6,184,265,166.56 | 202,957,841.25 | 6,387,223,007.81 | ||||||
| III. Changes in Current Period (“-” for decrease) | 23,877,383.06 | 6,814,695.35 | 11,174,404.11 | -27,307,859.94 | 14,558,622.58 | 32,604,742.14 | 47,163,364.72 | ||||||||
| (I) Total comprehensive income | 6,814,695.35 | 424,390,802.78 | 431,205,498.13 | 35,816,390.18 | 467,021,888.31 | ||||||||||
| (II) Capital contribution and reduction by owners | 23,877,383.06 | 23,877,383.06 | 23,877,383.06 | ||||||||||||
| 1. Ordinary shares invested by owners | |||||||||||||||
| 2. Capital contributed | |||||||||||||||
from otherequityinstrumentholders
| from other equity instrument holders | |||||||||||||||
| 3. Amounts of share-based payments recognized in owners' equity | 23,877,383.06 | 23,877,383.06 | 23,877,383.06 | ||||||||||||
| 4. Other | |||||||||||||||
| (III) Profit distribution | -451,698,662.72 | -451,698,662.72 | -3,211,648.04 | -454,910,310.76 | |||||||||||
| 1. Appropriation of surplus reserve | |||||||||||||||
| 2. Appropriation of general risk reserve | |||||||||||||||
| 3. Distribution to owners (or shareholders) | -451,698,662.72 | -451,698,662.72 | -3,211,648.04 | -454,910,310.76 | |||||||||||
| 4. Other | |||||||||||||||
| (IV) Internal carry-over of owners' equity | |||||||||||||||
| 1. Capital reserve converted into capital (or share capital) | |||||||||||||||
| 2. Surplus reserve converted into capital (or share capital) | |||||||||||||||
| 3. Recovery of losses by surplus reserves | |||||||||||||||
| 4. Carry-over retained earnings from defined benefit plan changes |
5. Carry-over
retainedearnings fromothercomprehensive income
| 5. Carry-over retained earnings from other comprehensive income | |||||||||||||||
| 6. Other | |||||||||||||||
| (V) Special reserves | 11,174,404.11 | 11,174,404.11 | 11,174,404.11 | ||||||||||||
| 1. Withdrawal in the current period | 20,466,859.24 | 20,466,859.24 | 177,574.85 | 20,644,434.09 | |||||||||||
| 2. Use in the current period | -9,292,455.13 | -9,292,455.13 | -177,574.85 | -9,470,029.98 | |||||||||||
| (VI) Other | |||||||||||||||
| IV. Balance at the end of the current period | 277,115,744.00 | 2,325,170,983.98 | 12,636,477.48 | 30,725,411.73 | 158,674,657.07 | 3,394,500,514.88 | 6,198,823,789.14 | 235,562,583.39 | 6,434,386,372.53 |
8. Statement of changes in owner's equity of the parent company
Amount in the current period
Unit: RMB
| Item | First half year of 2024 | |||||||||||
| Share capital | Other equity instruments | Capital reserve | Less: Treasury stock | Other comprehensive income | Special reserve | Surplus reserve | Undistributed profit | Other | Total owner’s equity | |||
| Preferred shares | Perpetual bonds | Other | ||||||||||
| I. Balance at the end of the previous year: | 278,662,094.00 | 2,389,729,206.17 | 13,004,013.98 | 158,674,657.07 | 1,966,740,756.92 | 4,806,810,728.14 | ||||||
| Add: Changes in accounting policies | ||||||||||||
| Correction of errors from previous period | ||||||||||||
| Other | ||||||||||||
| II. Opening balance of the current year | 278,662,094.00 | 2,389,729,206.17 | 13,004,013.98 | 158,674,657.07 | 1,966,740,756.92 | 4,806,810,728.14 | ||||||
| III. Changes in Current Period (“-” | 10,510,900.02 | 2,074,510.38 | -184,790,425.87 | -172,205,015.47 | ||||||||
for decrease)
| for decrease) | ||||||||||||
| (I) Total comprehensive income | 93,871,668.13 | 93,871,668.13 | ||||||||||
| (II) Capital contribution and reduction by owners | 10,510,900.02 | 10,510,900.02 | ||||||||||
| 1. Ordinary shares invested by owners | ||||||||||||
| 2. Capital contributed from other equity instrument holders | ||||||||||||
| 3. Amounts of share-based payments recognized in owners' equity | 10,510,900.02 | 10,510,900.02 | ||||||||||
| 4. Other | ||||||||||||
| (III) Profit distribution | -278,662,094.00 | -278,662,094.00 | ||||||||||
| 1. Appropriation of surplus reserve | ||||||||||||
| 2. Distribution to owners (or shareholders) | -278,662,094.00 | -278,662,094.00 | ||||||||||
| 3. Other | ||||||||||||
| (IV) Internal carry-over of owners' equity | ||||||||||||
| 1. Capital reserve converted into capital (or share capital) | ||||||||||||
| 2. Surplus |
reserveconvertedinto capital(or sharecapital)
| reserve converted into capital (or share capital) | ||||||||||||
| 3. Recovery of losses by surplus reserves | ||||||||||||
| 4. Carry-over retained earnings from defined benefit plan changes | ||||||||||||
| 5. Carry-over retained earnings from other comprehensive income | ||||||||||||
| 6. Other | ||||||||||||
| (V) Special reserves | 2,074,510.38 | 2,074,510.38 | ||||||||||
| 1. Withdrawal in the current period | 10,963,770.14 | 10,963,770.14 | ||||||||||
| 2. Use in the current period | -8,889,259.76 | -8,889,259.76 | ||||||||||
| (VI) Other | ||||||||||||
| IV. Balance at the end of the current period | 278,662,094.00 | 2,400,240,106.19 | 15,078,524.36 | 158,674,657.07 | 1,781,950,331.05 | 4,634,605,712.67 |
Amount in the previous period
Unit: RMB
| Item | First half year of 2023 | |||||||||||
| Share capital | Other equity instruments | Capital reserve | Less: Treasury stock | Other comprehensive income | Special reserve | Surplus reserve | Undistributed profit | Other | Total owner’s equity | |||
| Preferred shares | Perpetual bonds | Other | ||||||||||
| I. Balance at the end of the previous year: | 277,115,744.00 | 2,307,349,954.34 | 158,674,657.07 | 2,189,570,288.45 | 4,932,710,643.86 | |||||||
| Add: Changes in accounting | ||||||||||||
policies
| policies | ||||||||||||
| Correction of errors from previous period | ||||||||||||
| Other | ||||||||||||
| II. Opening balance of the current year | 277,115,744.00 | 2,307,349,954.34 | 158,674,657.07 | 2,189,570,288.45 | 4,932,710,643.86 | |||||||
| III. Changes in Current Period (“-” for decrease) | 24,839,100.00 | 7,812,108.54 | -240,664,779.79 | -208,013,571.25 | ||||||||
| (I) Total comprehensive income | 211,033,882.93 | 211,033,882.93 | ||||||||||
| (II) Capital contribution and reduction by owners | 24,839,100.00 | 24,839,100.00 | ||||||||||
| 1. Ordinary shares invested by owners | ||||||||||||
| 2. Capital contributed from other equity instrument holders | ||||||||||||
| 3. Amounts of share-based payments recognized in owners' equity | 24,839,100.00 | 24,839,100.00 | ||||||||||
| 4. Other | ||||||||||||
| (III) Profit distribution | -451,698,662.72 | -451,698,662.72 | ||||||||||
| 1. Appropriation of surplus reserve | ||||||||||||
| 2. Distribution to owners (or shareholders | -451,698,662.72 | -451,698,662.72 |
)
| ) | ||||||||||||
| 3. Other | ||||||||||||
| (IV) Internal carry-over of owners' equity | ||||||||||||
| 1. Capital reserve converted into capital (or share capital) | ||||||||||||
| 2. Surplus reserve converted into capital (or share capital) | ||||||||||||
| 3. Recovery of losses by surplus reserves | ||||||||||||
| 4. Carry-over retained earnings from defined benefit plan changes | ||||||||||||
| 5. Carry-over retained earnings from other comprehensive income | ||||||||||||
| 6. Other | ||||||||||||
| (V) Special reserves | 7,812,108.54 | 7,812,108.54 | ||||||||||
| 1. Withdrawal in the current period | 13,682,770.35 | 13,682,770.35 | ||||||||||
| 2. Use in the current period | -5,870,661.81 | -5,870,661.81 | ||||||||||
| (VI) Other | ||||||||||||
| IV. Balance at the end of the current period | 277,115,744.00 | 2,332,189,054.34 | 7,812,108.54 | 158,674,657.07 | 1,948,905,508.66 | 4,724,697,072.61 |
In case of any discrepancies between English and Chinese versions of the "2024 Semi-Annual Report," theChinese version shall prevail.
SHANDONG WEIFANG RAINBOW CHEMICAL CO.,LTD
Board of DirectorsSep. 10, 2024