Stock code: 000017, 200017 Notice No.: 2022-005short form of the stock: Zhonghua-A, Zhonghua-B
Shenzhen China Bicycle Company (Holdings) Limited
The First Quarterly Report of 2022
Important content reminder:
1. Board of Directors, Supervisory Committee, all directors, supervisors and senior executives ofShenzhen China Bicycle Company (Holdings) Limited (hereinafter referred to as the Company)hereby confirm that there are no any fictitious statements, misleading statements, or importantomissions carried in this report, and shall take all responsibilities, individual and/or joint, for thereality, accuracy and completion of the whole contents.
2. Principal of the Company, Person in Charge of Accounting Works and Person in Charge ofAccounting Organ (Accounting Officer) hereby confirm that the Financial Report of the FirstQuarterly Report is authentic, accurate and complete.
3. Whether the First Quarterly Report has been audited or not
□Yes √No
I. Main financial data(i) Main accounting data and financial indexesWhether it has retroactive adjustment or re-statement on previous accounting data or not
□Yes √No
The Company and whole members of the BOD guarantee that the information disclosed is true, accurateand complete, and there are no any fictitious records, misleading statements or important omissions.
| Current Period | Same period of last year | Changes of this period over same period of last year | |
| Operating income (RMB) | 50,246,951.40 | 23,163,329.56 | 116.92% |
| Net profit attributable to shareholders of the listed company (RMB) | -903,991.16 | -211,535.36 | -327.35% |
| Net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses (RMB) | -1,190,923.81 | -211,535.36 | -462.99% |
| Net cash flow arising from operating activities (RMB) | -8,930,326.51 | 1,399,162.83 | -738.26% |
| Basic earnings per share (RMB/Share) | -0.0016 | -0.0004 | -300.00% |
| Diluted earnings per share (RMB/Share) | -0.0016 | -0.0004 | -300.00% |
| Weighted average ROE | -10.68% | -1.96% | -8.72% |
| End of this period | End of last period | Changes of this period-end over same period-end of last year | |
| Total assets (RMB) | 101,914,520.44 | 97,363,437.22 | 4.67% |
| Owners’ equity attributable to shareholders of listed company (RMB) | 8,014,547.00 | 8,918,538.16 | -10.14% |
(ii) Items and amounts of non-recurring profit (gains)/losses
√ Applicable □ Not applicable
Unit: RMB/CNY
| Item | Current amount | Note |
| Governmental subsidy calculated into current gains and losses(while closely related with the normal business of the Company, the government subsidy that accord with the provision of national policies and are continuously enjoyed in line with a certain standard quota or quantity are excluded) | 103,369.17 | |
| Reversal of the account receivable depreciation reserves subject to separate impairment test | 60,000.00 | |
| Other non-operating income and expenses other than the above | 221,131.50 | |
| Less: impact on income tax | 3,316.97 | |
| Impact on minority shareholders’ equity (post-tax) | 94,251.05 | |
| Total | 286,932.65 | -- |
Other gain/loss items that qualified the definition of non-recurring profit (gains)/losses:
□ Applicable √ Not applicable
The Company does not have other gain/loss items that qualified the definition of non-recurring profit (gains)/lossesExplanation on those non-recurring gain/loss listed in the “Q&A Announcement No.1 on Information Disclosure for CompaniesOffering Their Securities to the Public --- Extraordinary Profit/loss” defined as recurring gain/loss
□ Applicable √ Not applicable
The Company does not have the non-recurring gain/loss listed in the “Q&A Announcement No.1 on Information Disclosure forCompanies Offering Their Securities to the Public --- Extraordinary Profit/loss” defined as recurring gain/loss
(iii) Particulars about changes in items of main accounting data and financial index and explanations ofreasons
√ Applicable □Not applicable
| Item | Period-end/current period | Period-begin/last period | Y-o-y changes (+,-) | Cause of change |
Monetary fund
| Monetary fund | 24,173,752.51 | 33,246,957.92 | -27.29% | Purchase of jewelry and gold by subsidiary |
| Account paid in advance | 2,670,412.70 | 1,300,408.57 | 105.35% | The account paid in advance for lithium battery materials increased |
| Inventory | 19,655,197.38 | 8,248,573.77 | 138.29% | The inventory of jewelry and gold increased from the subsidiary |
Other current assets
| Other current assets | 3,222,011.94 | 1,814,200.53 | 77.60% | The item of input to be deducted by subsidiary increased |
| Account payable | 14,462,510.97 | 8,297,306.34 | 74.30% | Payments to suppliers during the period |
| Operation revenue | 50,246,951.40 | 23,163,329.56 | 116.92% | Income from jewelry and gold business increased |
| Operation cost | 47,249,406.26 | 20,752,454.71 | 127.68% | Costs of the jewelry and gold business increased |
Sales expenses
| Sales expenses | 1,251,815.38 | 425,618.74 | 194.12% | Expenses increased due to the growth of income |
| R&D expenses | 1,215,439.84 | 856,296.32 | 41.94% | Expenses on R&D increased |
| Net cash flow arising from operation activities | -8,930,326.51 | 1,399,162.83 | -738.26% | Purchase of jewelry and gold by subsidiary |
II. Shareholders(i) Total number of common shareholders and preference shareholders with voting rights recovered andtop ten shareholders
Unit: Share
| Total number of common shareholders at the end of report period | 40,730 | Total preference shareholders with voting rights recovered at end of reporting period (if applicable) | 0 | |||||
| Top ten shareholders | ||||||||
| Shareholder’s name | Nature of shareholder | Proportion of shares held | Amount of shares held | Amount of lock-up shares held | Information of shares pledged, tagged or frozen | |||
| State of share | Amount | |||||||
| Shenzhen Guosheng Energy Investment Development Co., Ltd. | Domestic non-state-owned legal person | 11.52% | 63,508,747 | 0 | - | - | ||
| UOB Koy Hian (Hong Kong) Co., Ltd. | Foreign legal person | 2.89% | 15,907,850 | 0 | - | - | ||
| Guosen Securities (Hong Kong) brokerage Co., Ltd. | Foreign legal person | 2.52% | 13,909,425 | 0 | - | - | ||
| Shenwan Hongyuan Securities (Hong Kong) Co., Ltd. | Foreign legal person | 1.50% | 8,281,156 | 0 | - | - | ||
| Lhasa Xingqing Network Technology Co., Ltd. | Domestic non-state-owned legal person | 0.83% | 4,600,255 | 0 | - | - | ||
| Li Huili | Domestic nature person | 0.71% | 3,891,124 | 0 | - | - |
| Ge Zhiqiong | Domestic nature person | 0.56% | 3,112,052 | 0 | - | - |
| Xu Hongbo | Domestic nature person | 0.53% | 2,927,319 | 0 | - | - |
| China Merchants Securities Hong Kong Co., Ltd. | State-owned legal person | 0.52% | 2,894,135 | 0 | - | - |
| Shenzhen China Bicycle Company (Holdings) Limited -Special account for property disposal of bankrupt enterprise | Domestic non-state-owned legal person | 0.47% | 2,602,402 | 0 | - | - |
| Top ten shareholders with unrestricted shares held | ||||||
| Shareholder’s name | Amount of unrestricted shares held | Type of shares | ||||
| Type | Amount | |||||
| Shenzhen Guosheng Energy Investment Development Co., Ltd. | 63,508,747 | RMB common shares | 63,508,747 | |||
| UOB Koy Hian (Hong Kong) Co., Ltd. | 15,907,850 | Domestically listed foreign shares | 15,907,850 | |||
| Guosen Securities (Hong Kong) brokerage Co., Ltd. | 13,909,425 | Domestically listed foreign shares | 13,909,425 | |||
| Shenwan Hongyuan Securities (Hong Kong) Co., Ltd. | 8,281,156 | Domestically listed foreign shares | 8,281,156 | |||
| Lhasa Xingqing Network Technology Co., Ltd. | 4,600,255 | RMB common shares | 4,600,255 | |||
| Li Huili | 3,891,124 | Domestically listed foreign shares | 3,891,124 | |||
| Ge Zhiqiong | 3,112,052 | RMB common shares | 198,400 | |||
| Domestically listed foreign | 2,913,652 | |||||
| shares | |||
| Xu Hongbo | 2,927,319 | Domestically listed foreign shares | 2,927,319 |
| China Merchants Securities Hong Kong Co., Ltd. | 2,894,135 | Domestically listed foreign shares | 2,894,135 |
| Shenzhen China Bicycle Company (Holdings) Limited -Special account for property disposal of bankrupt enterprise | 2,602,402 | RMB common shares | 1,383,313 |
| Domestically listed foreign shares | 1,219,089 | ||
| Explanation on associated relationship among the aforesaid shareholders | Li Huili, spouse of the Ji Hanfei, the actual controller of he Company- Shenzhen Guosheng Energy Investment Development Co., Ltd., holding B-share of the Company on behalf of Shenzhen Guosheng Energy Investment Development Co., Ltd., beyond that, the Company has no idea of whether other circulated shareholders belong to concerted action persons ruled in the Administration Norms for Information Disclosure of Change on Shareholding of Shareholders of Listed Companies. | ||
| Explanation on top 10 shareholders involving margin business (if applicable) | N/A | ||
(ii) Total shareholders with preferred stock held and shares held by top ten shareholders with preferredstock held
□ Applicable √ Not applicable
III. Other important matters
√Applicable □Not applicable
1. Planning for non-public offering of shares
On December 30, 2020, the company held the third extraordinary general meeting of shareholders in 2020, reviewed and approvedthe new plan for non-public issuance of A shares, and planned to raise funds from Wansheng Industry Company through non-publicissuance of shares of total amount not exceeding 293.6 million yuan, which would be used to replenish working capital afterdeducting the issuance expenses, and this issuance will lead to changes in the company’s control. On October 25, 2021, thecompany’s application for the non-public issuance of A shares was reviewed and approved by the Issuance Examination Commissionof the China Securities Regulatory Commission (hereinafter referred to as the CSRC). On November 11, 2021, the company receivedthe Approval for the Non-public Issuance of Shares by Shenzhen China Bicycle (Group) Co., Ltd. (ZJXK [2021] No. 3552) issued bythe CSRC, and the validity period of the approval is 12 months from the date of approval for the issuance. Relevant work is currentlyin progress.
2. About the company litigation matters
On February 23, 2022, the company received the Subpoena (2022) Yue 0303 Min Chu No. 3787, Complaint, Notice of Response,Civil Ruling Paper (2020) Yue 0303 Zhi Bao No. 498 and other legal documents from Shenzhen Luohu District People’s Court,which has accepted the lawsuit brought by the plaintiff Shenzhen Jianzhi Industrial Development Co., Ltd. against the company on
the grounds of “joint venture and cooperative development of real estate contract disputes”, the amount involved was 30.859 millionyuan. On March 12, 2022, the company received a notice from the Shenzhen Luohu District People’s Court that the court trialoriginally scheduled for March 18, 2022 has been rescheduled due to the pandemic, and the specific trial time will be notified later.As of the date of this announcement, the company has not received the notice from the Luohu Court, and the matter has not yet beenheard. The company will actively respond to the lawsuit, safeguard the interests of the company and all shareholders through legalmeans. According to the Analysis of Jianzhi Company sued CBC issued by Guangdong Asia Laws Firm on March 28, 2022, theevidence submitted by Jianzhi Company could not support its litigation request, and the CBC had completed the conditions of thereturn revenue as agreed in the Cooperation Contract, termination of the Contract was in accordance with the legal provision. TheCBC believes that they has completed part of the works agreed in Cooperation Contract, and should get 6 million yuan as agreed inthe Contract. Currently, the Company has filed a counter-suit against Shenzhen Jianzhi Industrial Development Co., Ltd for paymentof 6 million yuan in return proceeds from the project. The Company will perform the corresponding information disclosureobligations in a timely manner according to the progress of the lawsuit. Investors are advised to pay attention to investment risks.IV. Quarterly financial statements(i) Financial statement
1. Consolidate Balance Sheet
Prepared by Shenzhen China Bicycle Company (Holdings) Limited
March 31, 2022
Unit: RMB/CNY
| Item | Ending balance | Opening balance |
| Current assets: | ||
| Monetary fund | 24,173,752.51 | 33,246,957.92 |
| Settlement provisions | ||
| Capital lent | ||
| Trading financial assets | ||
| Derivative financial assets | ||
| Note receivable | ||
| Account receivable | 46,242,685.55 | 46,850,083.59 |
| Receivable financing | ||
| Account paid in advance | 2,670,412.70 | 1,300,408.57 |
| Insurance receivable | ||
| Reinsurance receivables | ||
| Contract reserve of reinsurance receivable | ||
| Other account receivable | 740,422.93 | 494,695.27 |
| Including: Interest receivable | ||
| Dividend receivable | ||
| Buying back the sale of financial assets | ||
| Inventory | 19,655,197.38 | 8,248,573.77 |
| Contract assets | ||
| Assets held for sale | ||
| Non-current asset due within one year | ||
| Other current assets | 3,222,011.94 | 1,814,200.53 |
| Total current assets | 96,704,483.01 | 91,954,919.65 |
| Non-current assets: | ||
| Loans and payments on behalf | ||
| Debt investment | ||
| Other debt investment | ||
| Long-term account receivable | ||
| Long-term equity investment | ||
| Investment in other equity instrument | ||
| Other non-current financial assets | ||
| Investment real estate | ||
| Fixed assets | 3,358,563.88 | 3,439,212.00 |
| Construction in progress | ||
| Productive biological asset | ||
| Oil and gas asset | ||
| Right-of-use assets | 1,387,426.88 | 1,505,258.90 |
| Intangible assets | ||
| Expense on research and development | ||
| Goodwill | ||
| Long-term expenses to be apportioned | ||
| Deferred income tax asset | 64,046.67 | 64,046.67 |
| Other non-current assets | 400,000.00 | 400,000.00 |
| Total non-current asset | 5,210,037.43 | 5,408,517.57 |
| Total assets | 101,914,520.44 | 97,363,437.22 |
| Current liabilities: | ||
| Short-term loans | ||
| Loan from central bank | ||
| Capital borrowed | ||
| Trading financial liability | ||
| Derivative financial liability | ||
| Note payable | ||
| Account payable | 14,462,510.97 | 8,297,306.34 |
| Accounts received in advance | ||
| Contract liabilities | 589,518.63 | 124,328.07 |
| Selling financial asset of repurchase | ||
| Absorbing deposit and interbank deposit | ||
| Security trading of agency | ||
| Security sales of agency | ||
| Wage payable | 910,492.99 | 923,477.10 |
| Taxes payable | 734,270.18 | 911,506.52 |
| Other account payable | 60,358,930.43 | 61,407,301.04 |
| Including: Interest payable | ||
| Dividend payable | ||
| Commission charge and |
| commission payable | ||
| Reinsurance payable | ||
| Liability held for sale | ||
| Non-current liabilities due within one year | 1,483,130.07 | 1,456,782.04 |
| Other current liabilities | 11,700.06 | 11,700.06 |
| Total current liabilities | 78,550,553.33 | 73,132,401.17 |
| Non-current liabilities: | ||
| Insurance contract reserve | ||
| Long-term loans | ||
| Bonds payable | ||
| Including: Preferred stock | ||
| Perpetual capital securities | ||
| Lease liability | 86,293.59 | 228,302.37 |
| Long-term account payable | ||
| Long-term wages payable | ||
| Accrual liability | ||
| Deferred income | ||
| Deferred income tax liabilities | ||
| Other non-current liabilities | ||
| Total non-current liabilities | 86,293.59 | 228,302.37 |
| Total liabilities | 78,636,846.92 | 73,360,703.54 |
| Owner’s equity: | ||
| Share capital | 551,347,947.00 | 551,347,947.00 |
| Other equity instrument | ||
| Including: Preferred stock | ||
| Perpetual capital securities | ||
| Capital public reserve | 627,834,297.85 | 627,834,297.85 |
| Less: Treasury shares | ||
| Other comprehensive income | ||
| Reasonable reserve | ||
| Surplus public reserve | 32,673,227.01 | 32,673,227.01 |
| Provision of general risk | ||
| Retained profit | -1,203,840,924.86 | -1,202,936,933.70 |
| Total owner’ s equity attributable to parent company | 8,014,547.00 | 8,918,538.16 |
| Minority interests | 15,263,126.52 | 15,084,195.52 |
| Total owner’ s equity | 23,277,673.52 | 24,002,733.68 |
| Total liabilities and owner’ s equity | 101,914,520.44 | 97,363,437.22 |
Legal Representative: Li HaiPerson in charge of Accounting Works: Sun LonglongPerson in charge of Accounting Institution: Zhong Xiaojin
2. Consolidated Profit Statement
Unit: RMB/CNY
| Item | Current period | Last period |
| I. Total operating income | 50,246,951.40 | 23,163,329.56 |
| Including: Operating income | 50,246,951.40 | 23,163,329.56 |
| Interest income | ||
| Insurance gained | ||
| Commission charge and commission income | ||
| II. Total operating cost | 51,348,242.22 | 23,368,934.41 |
| Including: Operating cost | 47,249,406.26 | 20,752,454.71 |
| Interest expense | ||
| Commission charge and commission expense | ||
| Cash surrender value | ||
| Net amount of expense of compensation | ||
| Net amount of withdrawal of insurance contract reserve | ||
| Bonus expense of guarantee slip | ||
| Reinsurance expense | ||
| Tax and extras | 35,537.87 | 30,648.14 |
| Sales expense | 1,251,815.38 | 425,618.74 |
| Administrative expense | 1,603,942.40 | 1,328,263.03 |
| R&D expense | 1,215,439.84 | 856,296.32 |
| Financial expenses | -7,899.53 | -24,346.53 |
| Including: Interest expenses | ||
| Interest income | 20,245.44 | 35,896.85 |
| Add: other income | 103,369.17 | 2,516.00 |
| Investment income (Loss is listed with “-”) | ||
| Including: Investment income on affiliated company and joint venture | ||
| The termination of income recognition for financial assets measured by amortized cost | ||
| Exchange income (Loss is listed with “-”) | ||
| Net exposure hedging income (Loss is listed with “-”) | ||
| Income from change of fair value (Loss is listed with “-”) | ||
| Loss of credit impairment (Loss is listed with “-”) | 60,000.00 | 468.00 |
| Losses of devaluation of asset (Loss is listed with “-”) | ||
| Income from assets disposal (Loss is listed with “-”) | ||
| III. Operating profit (Loss is listed with | -937,921.65 | -202,620.85 |
| “-”) | ||
| Add: Non-operating income | 221,131.50 | |
| Less: Non-operating expense | ||
| IV. Total profit (Loss is listed with “-”) | -716,790.15 | -202,620.85 |
| Less: Income tax expense | 8,270.01 | 8,863.55 |
| V. Net profit (Net loss is listed with “-”) | -725,060.16 | -211,484.40 |
| (i) Classify by business continuity | ||
| 1. Net profit from continuing operations (net loss listed with “-”) | -725,060.16 | -211,484.40 |
| 2. Net profit from termination of operations (net loss listed with “-”) | ||
| (ii) Classify by ownership | ||
| 1.Net profit attributable to owner’s of parent company | -903,991.16 | -211,535.36 |
| 2.Minority shareholders’ gains and losses | 178,931.00 | 50.96 |
| VI. Net after-tax of other comprehensive income | ||
| Net after-tax of other comprehensive income attributable to owners of parent company | ||
| (i) Other comprehensive income items which will not be reclassified subsequently to profit of loss | ||
| 1.Changes of the defined benefit plans that re-measured | ||
| 2.Other comprehensive income under equity method that cannot be transfer to gain/loss | ||
| 3.Change of fair value of investment in other equity instrument | ||
| 4.Fair value change of enterprise's credit risk | ||
| 5. Other | ||
| (ii) Other comprehensive income items which will be reclassified subsequently to profit or loss | ||
| 1.Other comprehensive income under equity method that can transfer to gain/loss | ||
| 2.Change of fair value of other debt investment | ||
| 3.Amount of financial assets re-classify to other comprehensive income | ||
| 4.Credit impairment provision for other debt investment | ||
| 5.Cash flow hedging reserve | ||
| 6.Translation differences arising on translation of foreign currency financial statements | ||
| 7.Other | ||
| Net after-tax of other comprehensive income attributable to minority |
| shareholders | ||
| VII. Total comprehensive income | -725,060.16 | -211,484.40 |
| Total comprehensive income attributable to owners of parent Company | -903,991.16 | -211,535.36 |
| Total comprehensive income attributable to minority shareholders | 178,931.00 | 50.96 |
| VIII. Earnings per share: | ||
| (i) Basic earnings per share | -0.0016 | -0.0004 |
| (ii) Diluted earnings per share | -0.0016 | -0.0004 |
Enterprise combine under the same control in the Period, the combined party realized net profit of 0.00 Yuan before combination, andrealized 0.00 Yuan at last period for combined partyLegal Representative: Li HaiPerson in charge of Accounting Works: Sun LonglongPerson in charge of Accounting Institution: Zhong Xiaojin
3. Consolidated Cash Flow Statement
Unit: RMB/CNY
| Item | Current period | Last period |
| I. Cash flows arising from operating activities: | ||
| Cash received from selling commodities and providing labor services | 55,844,910.44 | 31,191,247.05 |
| Net increase of customer deposit and interbank deposit | ||
| Net increase of loan from central bank | ||
| Net increase of capital borrowed from other financial institution | ||
| Cash received from original insurance contract fee | ||
| Net cash received from reinsurance business | ||
| Net increase of insured savings and investment | ||
| Cash received from interest, commission charge and commission | ||
| Net increase of capital borrowed | ||
| Net increase of returned business capital | ||
| Net cash received by agents in sale and purchase of securities | ||
| Write-back of tax received | 3,529.86 | 2,652.02 |
| Other cash received concerning operating activities | 7,532,827.46 | 7,188,346.22 |
| Subtotal of cash inflow arising from operating activities | 63,381,267.76 | 38,382,245.29 |
| Cash paid for purchasing commodities and receiving labor service | 60,349,320.00 | 28,648,220.66 |
| Net increase of customer loans and advances | ||
| Net increase of deposits in central bank and interbank | ||
| Cash paid for original insurance contract compensation | ||
| Net increase of capital lent | ||
| Cash paid for interest, commission charge and commission | ||
| Cash paid for bonus of guarantee slip | ||
| Cash paid to/for staff and workers | 2,086,036.96 | 2,644,266.76 |
| Taxes paid | 431,259.14 | 335,366.77 |
| Other cash paid concerning operating activities | 9,444,978.17 | 5,355,228.27 |
| Subtotal of cash outflow arising from operating activities | 72,311,594.27 | 36,983,082.46 |
| Net cash flows arising from operating activities | -8,930,326.51 | 1,399,162.83 |
| II. Cash flows arising from investing activities: | ||
| Cash received from recovering investment | ||
| Cash received from investment income | ||
| Net cash received from disposal of fixed, intangible and other long-term assets | ||
| Net cash received from disposal of subsidiaries and other units | ||
| Other cash received concerning investing activities | ||
| Subtotal of cash inflow from investing activities | ||
| Cash paid for purchasing fixed, intangible and other long-term assets | 5,957.99 | |
| Cash paid for investment | ||
| Net increase of mortgaged loans | ||
| Net cash received from subsidiaries and other units obtained | ||
| Other cash paid concerning investing activities | ||
| Subtotal of cash outflow from investing activities | 5,957.99 | |
| Net cash flows arising from investing activities | -5,957.99 | |
| III. Cash flows arising from financing activities | ||
| Cash received from absorbing investment | ||
| Including: Cash received from absorbing minority shareholders’ investment by subsidiaries | ||
| Cash received from loans |
| Other cash received concerning financing activities | ||
| Subtotal of cash inflow from financing activities | ||
| Cash paid for settling debts | ||
| Cash paid for dividend and profit distributing or interest paying | ||
| Including: Dividend and profit of minority shareholder paid by subsidiaries | ||
| Other cash paid concerning financing activities | 142,878.90 | |
| Subtotal of cash outflow from financing activities | 142,878.90 | |
| Net cash flows arising from financing activities | -142,878.90 | |
| IV. Influence on cash and cash equivalents due to fluctuation in exchange rate | ||
| V. Net increase of cash and cash equivalents | -9,073,205.41 | 1,393,204.84 |
| Add: Balance of cash and cash equivalents at the period-begin | 33,246,957.92 | 19,887,978.05 |
| VI. Balance of cash and cash equivalents at the period-end | 24,173,752.51 | 21,281,182.89 |
(ii) Audit report
Whether the 1
stquarterly report has been audited or not
□Yes √ No
The 1stquarterly report of the Company has not been audited.
Board of Directors of
Shenzhen China Bicycle Company (Holdings) Limited
April 28, 2022