FOSHAN ELECTRICAL AND LIGHTING CO., LTD.
THIRD QUARTER REPORT 2018
October 2018
Part I Important Notes
The Board of Directors (or the “Board”), the Supervisory Committee as well as the directors,
supervisors and senior management of Foshan Electrical and Lighting Co., Ltd. (together
with its consolidated subsidiaries, the “Company”, except where the context otherwise
requires) hereby guarantee the factuality, accuracy and completeness of the contents of thisReport and its summary, and shall be jointly and severally liable for any misrepresentations,misleading statements or material omissions therein.
All the Company’s directors have attended the Board meeting for the review of this Report
and its summary.
He Yong, the Company’s legal representative, Liu Xingming, the Company’s GeneralManager, and Tang Qionglan, the Company’s Chief Financial Officer (CFO) hereby
guarantee that the financial statements carried in this Report are factual, accurate andcomplete.This Report and its summary have been prepared in both Chinese and English. Should therebe any discrepancies or misunderstandings between the two versions, the Chinese versionsshall prevail.
Part II Key Corporate Information
I Key Consolidated Financial Information
Indicate by tick mark whether there is any retrospectively restated datum in the table below.
□ Yes √ No
| 30 September 2018 | 31 December 2017 | Change (%) | ||||
| Total assets (RMB) | 5,655,661,465.49 | 5,675,811,824.29 | -0.36% | |||
| Equity attributable to the listed company’s shareholders (RMB) | 4,350,922,524.65 | 4,779,115,459.39 | -8.96% | |||
| Q3 2018 | YoY change (%) | Q1-Q3 2018 | YoY change (%) | |||
| Operating revenue (RMB) | 820,735,540.10 | -11.40% | 2,885,514,830.09 | -2.19% | ||
| Net profit attributable to the listed company’s shareholders (RMB) | 94,389,387.69 | -79.03% | 323,666,843.51 | -52.30% | ||
| Net profit attributable to the listed company’s shareholders before exceptional items (RMB) | 94,550,677.32 | 43.79% | 322,578,914.03 | 10.12% | ||
| Net cash generated from/used in operating activities (RMB) | -- | -- | 510,441,096.28 | 591.72% | ||
| Basic earnings per share (RMB/share) | 0.0675 | -79.01% | 0.2313 | -52.30% | ||
| Diluted earnings per share (RMB/share) | 0.0675 | -79.01% | 0.2313 | -52.30% | ||
| Weighted average return on equity (%) | 1.66% | -6.77% | 6.98% | -6.44% | ||
Exceptional gains and losses:
√ Applicable □ Not applicable
Unit: RMB
| Item | Q1-Q3 2018 | Note |
| Gain or loss on disposal of non-current assets (inclusive of impairment allowance write-offs) | -137,807.23 | |
| Government subsidies charged to current profit or loss (exclusive of government subsidies given in the Company’s ordinary course of business at fixed quotas or amounts as per government’s | 1,078,870.94 |
| uniform standards) | ||
| Non-operating income and expense other than above | 136,989.67 | |
| Less: Income tax effects | 114,938.42 | |
| Non-controlling interests effects (net of tax) | -124,814.52 | |
| Total | 1,087,929.48 | -- |
Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item defined or listed in theExplanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the
Public—Exceptional Gain/Loss Items:
□ Applicable √ Not applicable
No such cases for the Reporting Period.
II Total Number of Shareholders and Holdings of Top 10 Shareholders at 30 September 2018
1. Numbers of Ordinary Shareholders and Preferred Shareholders with Resumed Voting Rights as well asHoldings of Top 10 Shareholders
Unit: share
| Number of ordinary shareholders | 91,412 | Number of preferred shareholders with resumed voting rights (if any) | 0 | |||||
| Top 10 shareholders | ||||||||
| Name of shareholder | Nature of shareholder | Shareholding percentage | Number of shares | Restricted shares | Shares in pledge or frozen | |||
| Status | Shares | |||||||
| Hong Kong Wah Shing Holding Company Limited | Foreign legal person | 13.47% | 188,496,430 | In pledge | 92,363,251 | |||
| Prosperity Lamps & Components Limited | Foreign legal person | 10.50% | 146,934,857 | |||||
| Shenzhen Rising Investment Development Co., Ltd. | State-owned legal person | 5.12% | 71,696,136 | In pledge | 28,300,000 | |||
| Guangdong Electronics Information Industry Group Ltd. | State-owned legal person | 4.74% | 66,393,501 | In pledge | 32,532,815 | |||
| Central Huijin | State-owned legal | 2.42% | 33,878,900 | |||||
| Asset Management Co., Ltd. | person | |||||
| Essence International Securities (Hong Kong) Limited | Foreign legal person | 2.09% | 29,313,386 | |||
| Rising Investment Development Limited | Foreign legal person | 1.82% | 25,482,252 | |||
| DBS Vickers (Hong Kong) Ltd A/C Clients | Foreign legal person | 1.58% | 22,102,137 | |||
| China Merchants Securities (HK) Co., Limited | Foreign legal person | 0.88% | 12,381,736 | |||
| Peng Weiyan | Foreign natural person | 0.86% | 12,032,113 | |||
| Top 10 unrestricted shareholders | ||||||
| Name of shareholder | Unrestricted shares | Shares by type | ||||
| Type | Shares | |||||
| Hong Kong Wah Shing Holding Company Limited | 188,496,430 | RMB-denominated ordinary stock | 188,496,430 | |||
| Prosperity Lamps & Components Limited | 146,934,857 | RMB-denominated ordinary stock | 146,934,857 | |||
| Shenzhen Rising Investment Development Co., Ltd. | 71,696,136 | RMB-denominated ordinary stock | 71,696,136 | |||
| Guangdong Electronics Information Industry Group Ltd. | 66,393,501 | RMB-denominated ordinary stock | 66,393,501 | |||
| Central Huijin Asset Management Co., Ltd. | 33,878,900 | RMB-denominated ordinary stock | 33,878,900 | |||
| Essence International Securities (Hong Kong) Limited | 29,313,386 | Domestically listed foreign stock | 29,313,386 | |||
| Rising Investment Development Limited | 25,482,252 | Domestically listed foreign stock | 25,482,252 | |||
| DBS Vickers (Hong Kong) Ltd A/C Clients | 22,102,137 | Domestically listed foreign stock | 22,102,137 | |||
| China Merchants Securities (HK) Co., Limited | 12,381,736 | Domestically listed foreign stock | 12,381,736 |
| Peng Weiyan | 12,032,113 | RMB-denominated ordinary stock | 12,032,113 |
| Related or acting-in-concert parties among shareholders above | Among the top 10 shareholders, Hong Kong Wah Shing Holding Company Limited, Shenzhen Rising Investment Development Co., Ltd., Guangdong Electronics Information Industry Group Ltd. and Rising Investment Development Limited are acting-in-concert parties. Apart from that, it is unknown whether there is among the top 10 shareholders any other related parties or acting-in -concert parties as defined in the Administrative Measures for the Acquisition of Listed Companies. | ||
| Top 10 ordinary shareholders involved in securities margin trading (if any) | Among the top 10 unrestricted shareholders, natural person Peng Weiyan holds 0 shares in the Company through her common stock accounts and 12,032,113 shares in the Company through her accounts of collateral securities for margin trading, representing a total holding of 12,032,113 shares in the Company. | ||
Indicate by tick mark whether any of the top 10 ordinary shareholders or the top 10 unrestricted ordinaryshareholders of the Company conducted any promissory repo during the Reporting Period.
□ Yea √ No
No such cases in the Reporting Period.2. Number of Preferred Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
Part III Significant Events
I Changes in Selected Consolidated Financial Statement Line Items and Explanation of why
√ Applicable □ Not applicable
Unit: RMB
| Item | 30 September 2018 (or Q1~Q3 2018) | 31 December 2017 (or Q1~Q3 2017) | Change (%) | Explanation of why |
| Monetary capital | 749,538,531.36 | 570,184,208.96 | 31.46% | Reclassification into this item of mature structured deposits and wealth management products purchased from bank |
| Prepayments | 22,321,352.49 | 33,095,313.35 | -32.55% | Decline in advances to suppliers |
| Construction in progress | 224,495,198.68 | 162,814,991.68 | 37.88% | More investments in the expansion of the plant in Gaoming |
| Financial liabilities at fair value through profit or loss | 4,819,200.00 | Trading financial assets or liabilities were recognized at fair value on the forward forex settlement contracts entered into during the Reporting Period | ||
| Notes and accounts payable | 1,018,391,858.14 | 539,303,554.54 | 88.83% | More bank acceptance bills were used in the settlement with suppliers |
| Deferred income | 1,600,076.52 | 11,858,330.49 | -86.51% | Return of government subsidy in the current period |
| Deferred income tax liabilities | 67,637,756.02 | 126,460,250.96 | -46.51% | Decline in the fair value of available-for-sale financial assets |
| Capital reserves | 158,608,173.07 | 285,821,459.07 | -44.51% | Bonus issue from capital reserves in the current period |
| Other comprehensive income | 383,279,269.10 | 716,607,333.78 | -46.51% | Decline in the fair value of available-for-sale financial assets |
| R&D expense | 35,259,823.24 | 24,371,396.18 | 44.68% | Rise in R&D expense in this item |
| Finance costs | -27,223,983.79 | -6,116,872.70 | -345.06% | Higher exchange income resulted from the depreciation of the RMB against the U.S. dollar |
| Interest income | 7,691,616.90 | 19,973,130.75 | -61.49% | More bank deposits were used to purchase wealth management |
| products, from which the income generated was recognized in investment income | ||||
| Gain on changes in fair value | -4,819,200.00 | Trading financial assets or liabilities were recognized at fair value on the forward forex settlement contracts entered into during the Reporting Period | ||
| Investment income | 49,921,007.70 | 499,104,903.93 | -90.00% | Sale of holdings in Qinghai Fozhao (associate) and Guoxuan High-tech in the same period of last year |
| Share of profit or loss of joint ventures and associates | 6,515,462.53 | 185,758,558.04 | -96.49% | Sale of holdings in Qinghai Fozhao (associate) in the same period of last year |
| Asset disposal income | -78,039.44 | -10,790.68 | -623.21% | Sale of non-current assets |
| Other income | 27,330,963.26 | 3,609,964.36 | 657.10% | More government subsidies received during the ordinary course of business |
| Operating profit | 387,876,055.36 | 799,290,326.43 | -51.47% | Higher investment income in the same period of last year due to the sale of holdings in Qinghai Fozhao (associate) and Guoxuan High-tech, while there were no such events in the current period |
| Non-operating expense | 884,191.93 | 4,838,741.81 | -81.73% | Reduction in the loss on non-current asset disposal |
| Profit before tax | 389,032,148.18 | 797,243,162.69 | -51.20% | Higher investment income in the same period of last year due to the sale of holdings in Qinghai Fozhao (associate) and Guoxuan High-tech, while there were no such events in the current period |
| Income tax expense | 62,530,147.85 | 114,494,430.09 | -45.39% | Decline in profit before tax |
| Net profit | 326,502,000.33 | 682,748,732.60 | -52.18% | Higher investment income in the same period of last year due to the sale of holdings in Qinghai Fozhao (associate) and Guoxuan High-tech, while there were no such events in |
| the current period | ||||
| Net profit attributable to owners of the Company as the parent | 323,666,843.51 | 678,531,026.31 | -52.30% | Higher investment income in the same period of last year due to the sale of holdings in Qinghai Fozhao (associate) and Guoxuan High-tech, while there were no such events in the current period |
| Net profit attributable to non-controlling interests | 2,835,156.82 | 4,217,706.29 | -32.78% | Decline in subsidiaries’ profit |
| Other comprehensive income, net of tax | -333,328,064.68 | -213,210,507.23 | -56.34% | Decline in the fair value of available-for-sale financial assets |
| Total comprehensive income | -6,826,064.35 | 469,538,225.37 | -101.45% | Decline in the fair value of available-for-sale financial assets |
| Net cash generated from/used in operating activities | 510,441,096.28 | -103,806,526.11 | 591.72% | More bank acceptance bills were used in the settlement with suppliers in Q3, and the longer days of such payables outstanding resulted in a decrease in cash used in operating activities |
| Net cash generated from/used in investing activities | -20,911,229.55 | 12,659,213.62 | -265.19% | Sale of holdings in Qinghai Fozhao (associate) and Guoxuan High-tech in the same period of last year |
| Effect of foreign exchange rate changes on cash and cash equivalents | 5,036,692.65 | -3,350,808.67 | 250.31% | Higher exchange income resulted from the depreciation of the RMB |
| Net increase in cash and cash equivalents | 89,402,795.38 | -616,566,537.99 | 114.50% | Rise in net cash generated from operating activities |
II Progress, Influence and Solutions Associated with Significant Events
□ Applicable √ Not applicable
III Commitments that the Company’s Actual Controller, Shareholders, Related Parties and
Acquirers, as well as the Company Itself and Other Parties, Failed to Fulfill on Time duringReporting Period
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IV 2018 Annual Operating Performance Forecast
Warning of a forecast loss on or a forecast significant year-on-year change in net profit for year 2018, as well asexplanation of why:
□ Applicable √ Not applicable
V Securities Investments
√ Applicable □ Not applicable
Unit: RMB
| Security type | Security code | Security name | Initial investment cost | Measurement method | Beginning carrying amount | Gain/Loss on fair-value changes in Reporting Period | Accumulated fair-value changes charged to equity | Purchased in Reporting Period | Sold in Reporting Period | Gain/loss in Reporting Period | Ending carrying amount | Accounting title | Funding source |
| Domestically/Overseas listed stock | 002074 | Guoxuan High-tech | 160,000,000.00 | Fair value method | 1,011,838,873.50 | -389,553,420.75 | 4,545,547.50 | 622,285,452.75 | Available-for-sale financial assets | Self-funded | |||
| Domestically/Overseas listed stock | 601818 | China Everbright Bank | 30,828,816.00 | Fair value method | 75,114,353.70 | -2,596,545.56 | 3,356,962.47 | 72,517,808.14 | Available-for-sale financial assets | Self-funded | |||
| Domestically/Overseas listed stock | N/A | Xiamen Bank | 292,574,133.00 | Cost method | 292,574,133.00 | 10,971,417.60 | 292,574,133.00 | Available-for-sale financial assets | Self-funded | ||||
| Domestically/Overs | N/A | Foshan branch | 500,000.00 | Cost method | 500,000.00 | 500,000.00 | Available-for-sal | Self-funded |
| eas listed stock | of Guangdong Development Bank | e financial assets | |||||||||||
| Total | 483,902,949.00 | -- | 1,380,027,360.20 | 0.00 | -392,149,966.31 | 0.00 | 0.00 | 18,873,927.57 | 987,877,393.89 | -- | -- | ||
| Disclosure date of announcement on Board’s consent for securities investments | |||||||||||||
| Disclosure date of announcement on general meeting’s consent for securities investments (if any) | |||||||||||||
VI Wealth Management Entrustment
√ Applicable □ Not applicable
Unit: RMB’0,000 (in RMB ten thousand yuan)
| Type of wealth management | Funding source | Principal | Outstanding amount before maturity | Overdue amount |
| Wealth management product purchased from bank | Self-funded | 50,000 | 21,000 | 0 |
| Structural deposits | Self-funded | 61,000 | 61,000 | 0 |
| Total | 111,000 | 82,000 | 0 | |
High-risk wealth management entrustments with amounts that are individually significant, or with low security,low liquidity, or no protection of the principal:
√ Applicable □ Not applicable
| Trustee | Type of trustee | Type of wealth management product | Principal | Funding source | Start date | End date | Investment with principal | Way of payback | Reference annualized return (%) | Expected return (if any) | Actual gain/loss in Reporting Period | Collection/payment of gain/loss in | Impairment allowance (if any) | Through prescribed procedure or | Any plan for further entrustment | Overview and index to more |
| Reporting Period | not | information (if any) | ||||||||||||||
| China Guangfa Bank (Guangzhou Development District sub-branch) | Bank | Principal-protected with floating-rate income | 3,000 | Self-owned idle capital | 6 August 2018 | 8 October 2018 | Investment | Payment of principal and interest upon maturity | 4.85% | 37.47 | 34.28 | To be collected | 0 | Yes | Yes | www.cninfo.com.cn |
| Industrial Bank (Guangzhou Baiyun sub-branch) | Bank | Principal-protected with floating-rate income | 6,000 | Self-owned idle capital | 6 July 2018 | 6 October 2018 | Investment | Payment of principal and interest upon maturity | 4.50% | 69.53 | 63.62 | To be collected | 0 | Yes | Yes | www.cninfo.com.cn |
| Huaxia Bank (Foshan branch) | Bank | Principal-protected with floating-rate income | 3,000 | Self-owned idle capital | 10 July 2018 | 10 October 2018 | Investment | Payment of principal and interest upon maturity | 4.30% | 32.52 | 28.98 | To be collected | 0 | Yes | Yes | www.cninfo.com.cn |
| PingAn Bank (Foshan Jiangwan sub-branch) | Bank | Principal-protected with floating-rate income | 3,000 | Self-owned idle capital | 6 August 2018 | 6 November 2018 | Investment | Payment of principal and interest upon maturi | 4.45% | 33.65 | 20.48 | To be collected | 0 | Yes | Yes | www.cninfo.com.cn |
| ty | ||||||||||||||||
| PingAn Bank (Guangzhou Huanshi East Road sub-branch) | Bank | Principal-protected with floating-rate income | 3,000 | Self-owned idle capital | 13 September 2018 | 12 December 2018 | Investment | Payment of principal and interest upon maturity | 4.00% | 29.59 | 5.59 | To be collected | 0 | Yes | Yes | www.cninfo.com.cn |
| China Guangfa Bank (Guangzhou Development District sub-branch) | Bank | Principal-protected with floating-rate income | 3,000 | Self-owned idle capital | 28 September 2018 | 7 January 2019 | Investment | Payment of principal and interest upon maturity | 4.10% | 34.04 | 0.67 | To be collected | 0 | Yes | Yes | www.cninfo.com.cn |
| Total | 21,000 | -- | -- | -- | -- | -- | -- | 236.8 | 153.62 | -- | -- | -- | -- | |||
Wealth management entrustments with possible impairments including an expectedly unrecoverable principal:
□ Applicable √ Not applicable
VII Investments in Derivative Financial Instruments
√ Applicable □ Not applicable
| Counterparty | Relationship with the Company | Related-party transaction or not | Type of derivative | Initial investment amount | Start date | End date | Beginning investment | Purchased in Reporting Period | Sold in Reporting Period | Impairment allowance (if any) | Ending investment | Ending investment as % of the Company’s ending net assets | Actual gain/loss in Reporting Period |
| Bank of China | Not related | Not | Forward forex | US$12 million | 29 May 2018 | 30 Novemb | US$12 million | US$4 million | 0.63% | US$0.5771million |
| (Foshan branch) | settlement portfolio | er 2018 | |||||||||||
| Industrial and Commercial Bank of China (Foshan branch) | Not related | Not | Forward forex settlement portfolio | US$12 million | 19 June 2018 | 21 December 2018 | US$12 million | US$6 million | 0.94% | ||||
| China Construction Bank (Foshan branch) | Not related | Not | Forward forex settlement portfolio | US$12 million | 12 July 2018 | 14 January 2019 | US$12 million | US$8 million | 1.26% | ||||
| Agricultural Bank of China (Foshan branch) | Not related | Not | Forward forex settlement portfolio | US$12 million | 2 August 2018 | 1 February 2019 | US$12 million | US$10 million | 1.57% | ||||
| Total | US$48 million | -- | -- | 0 | US$48 million | 0 | US$28 million | 4.40% | US$0.5771 million | ||||
| Funding source | Self-funded | ||||||||||||
| Legal matters involved (if applicable) | N/A | ||||||||||||
| Disclosure date of board announcement approving derivative investment (if any) | 23 May 2018 | ||||||||||||
| Disclosure date of general meeting announcement approving derivative investment (if any) | |||||||||||||
| Analysis of risks and control measures associated with derivative investments held in Reporting Period (including but not limited to market risk, liquidity risk, credit risk, operational risk, legal risk, etc.) | Risk Analysis of Forward Exchange Settlement Business: 1. Risk of exchange rate fluctuations. In the case of large fluctuations in the exchange rate, the quoted price of the bank’s forward exchange rate may be lower than the Company’s quoted exchange rate to the customer, which will make the Company unable to lock the quoted exchange rate to the customer or the bank’s forward exchange rate may deviate from the exchange rate at the time of the Company’s actual receipt and payment, and causes exchange losses. 2. Risk of customer default. The customer’s accounts receivable may be overdue, and the payment for goods cannot be recovered within the predictable payback period, which will result in the loss of the Company due to the delayed forward settlement. 3. Risk of payback prediction. The marketing department shall made corresponding payback prediction based on customer orders and expected orders. However, during the actual implementation process, customers may adjust their orders and predictions, which will result in the Company’s incorrect payback prediction and cause the risk of delayed | ||||||||||||
| delivery of forward exchange settlement. Adopted Risk Control Measures: 1. The Company will strengthen the research and analysis of the exchange rate. When the exchange rate fluctuates greatly, it will adjust the business strategy in a timely manner to stabilize the export business and avoid exchange losses to the utmost. 2. The Management System for Forward Settlement and Sales of Foreign Exchanges reviewed and approved by the board of directors of the Company stipulates that all forward foreign exchange settlement businesses of the Company shall be based on the normal production and operation, and relied on specific business operations to avoid and prevent various exchange rate risks. However, speculative transaction and interest arbitrage are not allowed. At the same time, the system clearly defines the operating principles, approval authority, responsible department and responsible person, internal operation procedures, information isolation measures, internal risk reporting system, risk management procedures, and information disclosure related to the forward settlement business as well. In fact, the system is conducive to strengthen the management of the Company’s forward foreign exchange settlement business and prevent investment risks. 3. In order to prevent any delay in the forward exchange settlement, the Company will strengthen the management of accounts receivable, actively collect receivables, and avoid any overdue receivables. In the meantime, the Company plans to increase the export purchases and purchase corresponding credit insurance so as to reduce the risk of default and customer default. 4. The Company’s forward foreign exchange settlement transactions must be based on the Company’s foreign exchange earnings prediction. Besides, the Company shall strictly control the scale of its forward foreign exchange settlement business, and manage all risks that the Company may face within a controllable range. 5. The internal audit department of the Company shall check the actual signing and execution situation of all trading contracts on a regular or irregular basis. | |
| Changes in market prices or fair value of derivative investments in Reporting Period (fair value analysis should include measurement method and related assumptions and parameters) | At present, the Company has invested various derivatives including Forward Exchange Settlement 3+3 Portfolio. This product portfolio is superior to other ordinary forward settlement products during the same period. The first three sessions of vesting conditions of this portfolio are: the spot exchange rate at maturity is lower than the agreed front-end exchange rate, and the exchange settlement shall be carried out based on the agreed front-end exchange rate; if the spot exchange rate at maturity is higher than the agreed front-end exchange rate, the Company can choose not to settle the exchange or choose to settle the exchange based on the spot exchange rate at maturity. The back-end three sessions of vesting conditions are: the spot exchange rate at maturity is lower than the agreed back-end exchange rate, and the Company can choose not to settle the exchange or choose to settle the exchange based on the spot exchange rate at maturity; if the spot exchange rate at maturity is higher than the agreed back-end exchange rate, the exchange settlement shall be carried out based on the agreed back-end exchange rate. |
| Major changes in accounting policies and specific accounting principles adopted for derivative investments in Reporting Period compared to last reporting period | N/A |
| Opinion of independent directors on derivative investments and risk control | The independent directors of the Company are of the opinion that during the Reporting Period, the Company carried out forward forex settlement in strict compliance with the Company Law, |
VIII Visits Paid to the Company for Purposes of Research, Communication, Interview, etc.during Reporting Period
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IX Irregularities in Provision of Guarantees for External Parties
□ Applicable √ Not applicable
No such cases in the Reporting Period.
X Occupation of the Company’s Capital by Controlling Shareholder or Its Related Parties for
Non-Operating Purposes
□ Applicable √ Not applicable
No such cases in the Reporting Period.
Part IV Financial Statements
I Financial Statements
1. Consolidated Balance Sheet
Prepared by Foshan Electrical and Lighting Co., Ltd.
30 September 2018
Unit: RMB
| Item | 30 September 2018 | 31 December 2017 |
| Current assets: | ||
| Monetary capital | 749,538,531.36 | 570,184,208.96 |
| Settlement reserve | ||
| Interbank loans granted | ||
| Financial assets at fair value through profit or loss | ||
| Derivative financial assets | ||
| Notes and accounts receivable | 964,049,240.32 | 824,659,624.97 |
| Including: Notes receivable | 57,849,304.52 | 68,368,192.41 |
| Accounts receivable | 906,199,935.80 | 756,291,432.56 |
| Prepayments | 22,321,352.49 | 33,095,313.35 |
| Premiums receivable | ||
| Reinsurance receivables | ||
| Receivable reinsurance contract reserve | ||
| Other receivables | 33,684,051.70 | 33,643,667.01 |
| Financial assets purchased under resale agreements | ||
| Inventories | 866,754,132.32 | 746,466,889.87 |
| Assets classified as held for sale | ||
| Current portion of non-current assets | ||
| Other current assets | 860,560,643.22 | 1,006,062,102.56 |
| Total current assets | 3,496,907,951.41 | 3,214,111,806.72 |
| Non-current assets: | ||
| Loans and advances to customers | ||
| Available-for-sale financial assets | 998,431,570.29 | 1,390,581,536.60 |
| Held-to-maturity investments | ||
| Long-term receivables | ||
| Long-term equity investments | 182,808,981.92 | 179,414,105.14 |
| Investment property | ||
| Fixed assets | 510,562,776.79 | 483,520,866.64 |
| Construction in progress | 224,495,198.68 | 162,814,991.68 |
| Productive living assets | ||
| Oil and gas assets | ||
| Intangible assets | 152,308,807.07 | 155,544,720.36 |
| R&D expense | ||
| Goodwill | ||
| Long-term prepaid expense | 7,244,514.48 | 9,088,933.56 |
| Deferred income tax assets | 34,833,190.83 | 37,675,828.79 |
| Other non-current assets | 48,068,474.02 | 43,059,034.80 |
| Total non-current assets | 2,158,753,514.08 | 2,461,700,017.57 |
| Total assets | 5,655,661,465.49 | 5,675,811,824.29 |
| Current liabilities: | ||
| Short-term borrowings | ||
| Borrowings from central bank | ||
| Customer deposits and interbank deposits | ||
| Interbank loans obtained | ||
| Financial liabilities at fair value through profit or loss | 4,819,200.00 | |
| Derivative financial liabilities | ||
| Notes and accounts payable | 1,018,391,858.14 | 539,303,554.54 |
| Advances from customers | 38,982,523.04 | 48,706,778.49 |
| Financial assets sold under repurchase agreements | ||
| Handling charges and commissions payable | ||
| Payroll payable | 74,050,420.24 | 81,948,630.59 |
| Taxes payable | 31,677,981.39 | 27,350,670.40 |
| Other payables | 44,224,308.27 | 40,548,489.03 |
| Reinsurance payables | ||
| Insurance contract reserve |
| Payables for acting trading of securities | ||
| Payables for underwriting of securities | ||
| Liabilities directly associated with assets classified as held for sale | ||
| Current portion of non-current liabilities | ||
| Other current liabilities | ||
| Total current liabilities | 1,212,146,291.08 | 737,858,123.05 |
| Non-current liabilities: | ||
| Long-term borrowings | ||
| Bonds payable | ||
| Including: Preferred shares | ||
| Perpetual bonds | ||
| Long-term payables | ||
| Long-term payroll payable | ||
| Provisions | ||
| Deferred income | 1,600,076.52 | 11,858,330.49 |
| Deferred income tax liabilities | 67,637,756.02 | 126,460,250.96 |
| Other non-current liabilities | ||
| Total non-current liabilities | 69,237,832.54 | 138,318,581.45 |
| Total liabilities | 1,281,384,123.62 | 876,176,704.50 |
| Owners’ equity: | ||
| Share capital | 1,399,346,154.00 | 1,272,132,868.00 |
| Other equity instruments | ||
| Including: Preferred shares | ||
| Perpetual bonds | ||
| Capital reserves | 158,608,173.07 | 285,821,459.07 |
| Less: Treasury stock | ||
| Other comprehensive income | 383,279,269.10 | 716,607,333.78 |
| Specific reserve | ||
| Surplus reserves | 772,953,002.36 | 772,953,002.36 |
| General reserve | ||
| Retained earnings | 1,636,735,926.12 | 1,731,600,796.18 |
| Total equity attributable to owners of the Company as the parent | 4,350,922,524.65 | 4,779,115,459.39 |
| Non-controlling interests | 23,354,817.22 | 20,519,660.40 |
| Total owners’ equity | 4,374,277,341.87 | 4,799,635,119.79 |
| Total liabilities and owners’ equity | 5,655,661,465.49 | 5,675,811,824.29 |
Legal representative: He Yong General Manager: Liu XingmingChief Financial Officer: Tang Qionglan
2. Balance Sheet of the Company as the Parent
Unit: RMB
| Item | 30 September 2018 | 31 December 2017 |
| Current assets: | ||
| Monetary capital | 693,814,281.32 | 502,169,100.40 |
| Financial assets at fair value through profit or loss | ||
| Derivative financial assets | ||
| Notes and accounts receivable | 967,352,000.98 | 814,698,352.02 |
| Including: Notes receivable | 56,887,304.52 | 67,268,192.41 |
| Accounts receivable | 910,464,696.46 | 747,430,159.61 |
| Prepayments | 31,148,101.99 | 70,580,941.09 |
| Other receivables | 62,459,291.31 | 51,918,913.09 |
| Inventories | 785,672,315.61 | 670,527,529.71 |
| Assets classified as held for sale | ||
| Current portion of non-current assets | ||
| Other current assets | 847,914,047.61 | 777,495,203.31 |
| Total current assets | 3,388,360,038.82 | 2,887,390,039.62 |
| Non-current assets: | ||
| Available-for-sale financial assets | 998,431,570.29 | 1,390,581,536.60 |
| Held-to-maturity investments | ||
| Long-term receivables | ||
| Long-term equity investments | 466,602,084.18 | 663,207,207.40 |
| Investment property | ||
| Fixed assets | 425,089,236.42 | 404,667,257.11 |
| Construction in progress | 222,803,290.28 | 161,024,975.28 |
| Productive living assets | ||
| Oil and gas assets | ||
| Intangible assets | 108,677,310.57 | 112,251,734.86 |
| R&D expense |
| Goodwill | ||
| Long-term prepaid expense | 6,202,381.60 | 8,209,699.77 |
| Deferred income tax assets | 32,516,908.25 | 32,985,075.62 |
| Other non-current assets | 46,278,074.02 | 42,661,573.80 |
| Total non-current assets | 2,306,600,855.61 | 2,815,589,060.44 |
| Total assets | 5,694,960,894.43 | 5,702,979,100.06 |
| Current liabilities: | ||
| Short-term borrowings | ||
| Financial liabilities at fair value through profit or loss | 4,819,200.00 | |
| Derivative financial liabilities | ||
| Notes and accounts payable | 1,194,704,799.17 | 719,912,246.75 |
| Advances from customers | 37,719,898.28 | 47,306,971.94 |
| Payroll payable | 55,154,399.63 | 60,345,714.81 |
| Taxes payable | 22,801,429.04 | 13,294,037.24 |
| Other payables | 117,443,683.70 | 96,824,757.90 |
| Liabilities directly associated with assets classified as held for sale | ||
| Current portion of non-current liabilities | ||
| Other current liabilities | ||
| Total current liabilities | 1,432,643,409.82 | 937,683,728.64 |
| Non-current liabilities: | ||
| Long-term borrowings | ||
| Bonds payable | ||
| Including: Preferred shares | ||
| Perpetual bonds | ||
| Long-term payables | ||
| Long-term payroll payable | ||
| Provisions | ||
| Deferred income | 1,406,326.23 | 11,548,330.26 |
| Deferred income tax liabilities | 67,637,756.02 | 126,460,250.96 |
| Other non-current liabilities | ||
| Total non-current liabilities | 69,044,082.25 | 138,008,581.22 |
| Total liabilities | 1,501,687,492.07 | 1,075,692,309.86 |
| Owners’ equity: |
| Share capital | 1,399,346,154.00 | 1,272,132,868.00 |
| Other equity instruments | ||
| Including: Preferred shares | ||
| Perpetual bonds | ||
| Capital reserves | 166,211,779.15 | 293,425,065.15 |
| Less: Treasury stock | ||
| Other comprehensive income | 383,280,617.41 | 716,608,088.78 |
| Specific reserve | ||
| Surplus reserves | 772,953,002.36 | 772,953,002.36 |
| Retained earnings | 1,471,481,849.44 | 1,572,167,765.91 |
| Total owners’ equity | 4,193,273,402.36 | 4,627,286,790.20 |
| Total liabilities and owners’ equity | 5,694,960,894.43 | 5,702,979,100.06 |
Legal representative: He Yong General Manager: Liu XingmingChief Financial Officer: Tang Qionglan
3. Consolidated Income Statement for Q3
Unit: RMB
| Item | Q3 2018 | Q3 2017 |
| 1. Revenue | 820,735,540.10 | 926,328,050.98 |
| Including: Operating revenue | 820,735,540.10 | 926,328,050.98 |
| Interest income | ||
| Premium income | ||
| Handling charge and commission income | ||
| 2. Operating costs and expenses | 757,426,684.91 | 888,962,375.54 |
| Including: Cost of sales | 619,459,583.91 | 760,791,362.20 |
| Interest expense | ||
| Handling charge and commission expense | ||
| Surrenders | ||
| Net claims paid | ||
| Net amount provided as insurance contract reserve | ||
| Expenditure on policy dividends | ||
| Reinsurance premium expense |
| Taxes and surcharges | 7,110,901.52 | 10,388,130.08 |
| Selling expense | 67,625,662.29 | 67,350,699.34 |
| Administrative expense | 45,731,759.35 | 37,516,789.65 |
| R&D expense | 16,316,330.46 | 10,162,478.73 |
| Finance costs | -14,138,507.18 | 999,034.66 |
| Including: Interest expense | ||
| Interest income | 2,812,177.03 | 4,363,967.48 |
| Asset impairment loss | 15,320,954.56 | 1,753,880.88 |
| Add: Other income | 26,312,578.09 | 306,970.00 |
| Investment income (“-” for loss) | 25,411,137.34 | 485,095,621.91 |
| Including: Share of profit or loss of joint ventures and associates | 6,335,680.97 | 184,214,592.25 |
| Gain on changes in fair value (“-” for loss) | -4,819,200.00 | |
| Foreign exchange gain (“-” for loss) | ||
| Asset disposal income (“-” for loss) | -78,039.44 | |
| 3. Operating profit (“-” for loss) | 110,135,331.18 | 522,768,267.35 |
| Add: Non-operating income | 370,428.32 | 72,176.55 |
| Less: Non-operating expense | 692,442.51 | 79,758.80 |
| 4. Profit before tax (“-” for loss) | 109,813,316.99 | 522,760,685.10 |
| Less: Income tax expense | 15,486,002.15 | 71,896,928.74 |
| 5. Net profit (“-” for net loss) | 94,327,314.84 | 450,863,756.36 |
| 5.1 Net profit from continuing operations (“-” for net loss) | 94,327,314.84 | 450,863,756.36 |
| 5.2 Net profit from discontinued operations (“-” for net loss) | ||
| Net profit attributable to owners of the Company as the parent | 94,389,387.69 | 450,036,365.74 |
| Net profit attributable to non-controlling interests | -62,072.85 | 827,390.62 |
| 6. Other comprehensive income, net of tax | -10,352,713.29 | -236,235,978.37 |
| Attributable to owners of the Company as the parent | -10,352,713.29 | -236,235,978.37 |
| 6.1 Items that will not be reclassified to profit or loss | ||
| 6.1.1 Changes in net liabilities or assets caused by remeasurements on defined benefit pension schemes | ||
| 6.1.2 Share of other comprehensive income of investees that will not be reclassified to profit or loss under equity method | ||
| 6.2 Items that may subsequently be reclassified to profit or loss | -10,352,713.29 | -236,235,978.37 |
| 6.2.1 Share of other comprehensive income of investees that will be reclassified to profit or loss under equity method | -21,831,908.42 | |
| 6.2.2 Gain/Loss on changes in fair value of available-for-sale financial assets | -10,354,561.67 | -214,404,069.95 |
| 6.2.3 Gain/Loss arising from reclassification of held-to-maturity investments to available-for-sale financial assets | ||
| 6.2.4 Effective gain/loss on cash flow hedges | ||
| 6.2.5 Differences arising from translation of foreign currency-denominated financial statements | 1,848.38 | |
| 6.2.6 Other | ||
| Attributable to non-controlling interests | ||
| 7. Total comprehensive income | 83,974,601.55 | 214,627,777.99 |
| Attributable to owners of the Company as the parent | 84,036,674.40 | 213,800,387.37 |
| Attributable to non-controlling interests | -62,072.85 | 827,390.62 |
| 8. Earnings per share | ||
| 8.1 Basic earnings per share | 0.0675 | 0.3216 |
| 8.2 Diluted earnings per share | 0.0675 | 0.3216 |
Where business combinations under common control occurred in the current period, the net profit achieved by the acquirees beforethe combinations was RMB0.00, with the amount for the same period of last year being RMB0.00.
Legal representative: He Yong General Manager: Liu XingmingChief Financial Officer: Tang Qionglan
4. Income Statement of the Company as the Parent for Q3
Unit: RMB
| Item | Q3 2018 | Q3 2017 |
| 1. Operating revenue | 806,761,538.76 | 903,446,254.75 |
| Less: Cost of sales | 629,785,452.97 | 763,482,738.06 |
| Taxes and surcharges | 4,807,080.85 | 7,416,305.60 |
| Selling expense | 59,544,684.51 | 62,278,091.63 |
| Administrative expense | 42,369,376.35 | 38,062,103.46 |
| R&D expense | 15,372,638.99 | 7,969,145.28 |
| Finance costs | -13,703,097.66 | 2,362,018.02 |
| Including: Interest expense | ||
| Interest income | 2,367,541.27 | 2,994,352.24 |
| Asset impairment loss | 15,359,989.07 | 1,617,784.82 |
| Add: Other income | 24,812,879.00 | 306,970.00 |
| Investment income (“-” for loss) | 57,357,355.93 | 484,167,951.90 |
| Including: Share of profit or loss of joint ventures and associates | 6,335,680.97 | 184,214,592.25 |
| Gain on changes in fair value (“-” for loss) | -4,819,200.00 | |
| Asset disposal income (“-” for loss) | ||
| 2. Operating profit (“-” for loss) | 130,576,448.61 | 504,732,989.78 |
| Add: Non-operating income | 330,267.62 | 14,884.74 |
| Less: Non-operating expense | 192,865.77 | 49,663.66 |
| 3. Profit before tax (“-” for loss) | 130,713,850.46 | 504,698,210.86 |
| Less: Income tax expense | 12,679,416.15 | 67,376,029.03 |
| 4. Net profit (“-” for net loss) | 118,034,434.31 | 437,322,181.83 |
| 4.1 Net profit from continuing operations (“-” for net loss) | 118,034,434.31 | 437,322,181.83 |
| 4.2 Net profit from discontinued operations (“-” for net loss) | ||
| 5. Other comprehensive income, net of tax | -10,354,561.67 | -236,235,978.37 |
| 5.1 Items that will not be reclassified |
| to profit or loss | ||
| 5.1.1 Changes in net liabilities or assets caused by remeasurements on defined benefit pension schemes | ||
| 5.1.2 Share of other comprehensive income of investees that will not be reclassified to profit or loss under equity method | ||
| 5.2 Items that may subsequently be reclassified to profit or loss | -10,354,561.67 | -236,235,978.37 |
| 5.2.1 Share of other comprehensive income of investees that will be reclassified to profit or loss under equity method | -21,831,908.42 | |
| 5.2.2 Gain/Loss on changes in fair value of available-for-sale financial assets | -10,354,561.67 | -214,404,069.95 |
| 5.2.3 Gain/Loss arising from reclassification of held-to-maturity investments to available-for-sale financial assets | ||
| 5.2.4 Effective gain/loss on cash flow hedges | ||
| 5.2.5 Differences arising from translation of foreign currency-denominated financial statements | ||
| 5.2.6 Other | ||
| 6. Total comprehensive income | 107,679,872.64 | 201,086,203.46 |
| 7. Earnings per share | ||
| 7.1 Basic earnings per share | ||
| 7.2 Diluted earnings per share |
Legal representative: He Yong General Manager: Liu XingmingChief Financial Officer: Tang Qionglan
5. Consolidated Income Statement for Q1~Q3
Unit: RMB
| Item | Q1~Q3 2018 | Q1~Q3 2017 |
| 1. Revenue | 2,885,514,830.09 | 2,950,253,633.82 |
| Including: Operating revenue | 2,885,514,830.09 | 2,950,253,633.82 |
| Interest income |
| Premium income | ||
| Handling charge and commission income | ||
| 2. Operating costs and expenses | 2,569,993,506.25 | 2,653,667,385.00 |
| Including: Cost of sales | 2,198,751,451.80 | 2,307,723,142.05 |
| Interest expense | ||
| Handling charge and commission expense | ||
| Surrenders | ||
| Net claims paid | ||
| Net amount provided as insurance contract reserve | ||
| Expenditure on policy dividends | ||
| Reinsurance premium expense | ||
| Taxes and surcharges | 29,073,419.76 | 30,774,732.41 |
| Selling expense | 171,542,672.76 | 149,002,693.03 |
| Administrative expense | 131,262,298.09 | 122,098,693.80 |
| R&D expense | 35,259,823.24 | 24,371,396.18 |
| Finance costs | -27,223,983.79 | -6,116,872.70 |
| Including: Interest expense | ||
| Interest income | 7,691,616.90 | 19,973,130.75 |
| Asset impairment loss | 31,327,824.39 | 25,813,600.23 |
| Add: Other income | 27,330,963.26 | 3,609,964.36 |
| Investment income (“-” for loss) | 49,921,007.70 | 499,104,903.93 |
| Including: Share of profit or loss of joint ventures and associates | 6,515,462.53 | 185,758,558.04 |
| Gain on changes in fair value (“-” for loss) | -4,819,200.00 | |
| Foreign exchange gain (“-” for loss) | ||
| Asset disposal income (“-” for loss) | -78,039.44 | -10,790.68 |
| 3. Operating profit (“-” for loss) | 387,876,055.36 | 799,290,326.43 |
| Add: Non-operating income | 2,040,284.75 | 2,791,578.07 |
| Less: Non-operating expense | 884,191.93 | 4,838,741.81 |
| 4. Profit before tax (“-” for loss) | 389,032,148.18 | 797,243,162.69 |
| Less: Income tax expense | 62,530,147.85 | 114,494,430.09 |
| 5. Net profit (“-” for net loss) | 326,502,000.33 | 682,748,732.60 |
| 5.1 Net profit from continuing operations (“-” for net loss) | 326,502,000.33 | 682,748,732.60 |
| 5.2 Net profit from discontinued operations (“-” for net loss) | ||
| Net profit attributable to owners of the Company as the parent | 323,666,843.51 | 678,531,026.31 |
| Net profit attributable to non-controlling interests | 2,835,156.82 | 4,217,706.29 |
| 6. Other comprehensive income, net of tax | -333,328,064.68 | -213,210,507.23 |
| Attributable to owners of the Company as the parent | -333,328,064.68 | -213,210,507.23 |
| 6.1 Items that will not be reclassified to profit or loss | ||
| 6.1.1 Changes in net liabilities or assets caused by remeasurements on defined benefit pension schemes | ||
| 6.1.2 Share of other comprehensive income of investees that will not be reclassified to profit or loss under equity method | ||
| 6.2 Items that may subsequently be reclassified to profit or loss | -333,328,064.68 | -213,210,507.23 |
| 6.2.1 Share of other comprehensive income of investees that will be reclassified to profit or loss under equity method | -21,831,908.42 | |
| 6.2.2 Gain/Loss on changes in fair value of available-for-sale financial assets | -333,327,471.37 | -191,378,598.81 |
| 6.2.3 Gain/Loss arising from reclassification of held-to-maturity investments to available-for-sale financial assets | ||
| 6.2.4 Effective gain/loss on cash flow hedges | ||
| 6.2.5 Differences arising from translation of foreign | -593.31 |
| currency-denominated financial statements | ||
| 6.2.6 Other | ||
| Attributable to non-controlling interests | ||
| 7. Total comprehensive income | -6,826,064.35 | 469,538,225.37 |
| Attributable to owners of the Company as the parent | -9,661,221.17 | 465,320,519.08 |
| Attributable to non-controlling interests | 2,835,156.82 | 4,217,706.29 |
| 8. Earnings per share | ||
| 8.1 Basic earnings per share | 0.2313 | 0.4849 |
| 8.2 Diluted earnings per share | 0.2313 | 0.4849 |
Where business combinations under common control occurred in the current period, the net profit achieved by the acquirees beforethe combinations was RMB0.00, with the amount for the same period of last year being RMB0.00.Legal representative: He Yong General Manager: Liu XingmingChief Financial Officer: Tang Qionglan
6. Income Statement of the Company as the Parent for Q1~Q3
Unit: RMB
| Item | Q1~Q3 2018 | Q1~Q3 2017 |
| 1. Operating revenue | 2,811,049,983.52 | 2,883,642,659.04 |
| Less: Cost of sales | 2,217,179,773.50 | 2,313,440,394.16 |
| Taxes and surcharges | 22,021,486.96 | 21,444,604.66 |
| Selling expense | 150,661,877.23 | 136,340,918.02 |
| Administrative expense | 119,997,288.25 | 122,757,707.29 |
| R&D expense | 33,985,885.56 | 21,672,079.82 |
| Finance costs | -26,358,156.78 | -2,112,235.62 |
| Including: Interest expense | ||
| Interest income | 6,799,775.32 | 15,944,654.30 |
| Asset impairment loss | 30,584,644.12 | 24,670,993.37 |
| Add: Other income | 25,374,222.06 | 3,592,210.00 |
| Investment income (“-” for loss) | 78,395,196.25 | 497,071,428.38 |
| Including: Share of profit or loss of joint ventures and associates | 6,515,462.53 | 185,758,558.04 |
| Gain on changes in fair value (“-” for loss) | -4,819,200.00 |
| Asset disposal income (“-” for loss) | ||
| 2. Operating profit (“-” for loss) | 361,927,402.99 | 746,091,835.72 |
| Add: Non-operating income | 1,902,719.21 | 2,476,478.15 |
| Less: Non-operating expense | 356,969.86 | 2,091,041.16 |
| 3. Profit before tax (“-” for loss) | 363,473,152.34 | 746,477,272.71 |
| Less: Income tax expense | 45,627,355.24 | 101,422,029.01 |
| 4. Net profit (“-” for net loss) | 317,845,797.10 | 645,055,243.70 |
| 4.1 Net profit from continuing operations (“-” for net loss) | 317,845,797.10 | 645,055,243.70 |
| 4.2 Net profit from discontinued operations (“-” for net loss) | ||
| 5. Other comprehensive income, net of tax | -333,327,471.37 | -213,210,507.23 |
| 5.1 Items that will not be reclassified to profit or loss | ||
| 5.1.1 Changes in net liabilities or assets caused by remeasurements on defined benefit pension schemes | ||
| 5.1.2 Share of other comprehensive income of investees that will not be reclassified to profit or loss under equity method | ||
| 5.2 Items that may subsequently be reclassified to profit or loss | -333,327,471.37 | -213,210,507.23 |
| 5.2.1 Share of other comprehensive income of investees that will be reclassified to profit or loss under equity method | -21,831,908.42 | |
| 5.2.2 Gain/Loss on changes in fair value of available-for-sale financial assets | -333,327,471.37 | -191,378,598.81 |
| 5.2.3 Gain/Loss arising from reclassification of held-to-maturity investments to available-for-sale financial assets | ||
| 5.2.4 Effective gain/loss on cash flow hedges | ||
| 5.2.5 Differences arising from translation of foreign currency-denominated financial statements |
| 5.2.6 Other | ||
| 6. Total comprehensive income | -15,481,674.27 | 431,844,736.47 |
| 7. Earnings per share | ||
| 7.1 Basic earnings per share | ||
| 7.2 Diluted earnings per share |
Legal representative: He Yong General Manager: Liu XingmingChief Financial Officer: Tang Qionglan
7. Consolidated Cash Flow Statement for Q1~Q3
Unit: RMB
| Item | Q1~Q3 2018 | Q1~Q3 2017 |
| 1. Cash flows from operating activities: | ||
| Proceeds from sale of commodities and rendering of services | 2,646,375,234.95 | 2,689,003,504.65 |
| Net increase in customer deposits and interbank deposits | ||
| Net increase in borrowings from central bank | ||
| Net increase in loans from other financial institutions | ||
| Premiums received on original insurance contracts | ||
| Net proceeds from reinsurance | ||
| Net increase in deposits and investments of policy holders | ||
| Net increase in proceeds from disposal of financial assets at fair value through profit or loss | ||
| Interest, handling charges and commissions received | ||
| Net increase in interbank loans obtained | ||
| Net increase in proceeds from repurchase transactions | ||
| Tax rebates | 109,951,990.96 | 74,944,574.17 |
| Cash generated from other operating activities | 71,257,187.00 | 40,868,251.39 |
| Subtotal of cash generated from operating activities | 2,827,584,412.91 | 2,804,816,330.21 |
| Payments for commodities and | 1,462,982,460.41 | 1,873,635,380.49 |
| services | ||
| Net increase in loans and advances to customers | ||
| Net increase in deposits in central bank and in interbank loans granted | ||
| Payments for claims on original insurance contracts | ||
| Interest, handling charges and commissions paid | ||
| Policy dividends paid | ||
| Cash paid to and for employees | 501,231,015.45 | 538,117,713.71 |
| Taxes paid | 195,992,337.25 | 328,954,823.22 |
| Cash used in other operating activities | 156,937,503.52 | 167,914,938.90 |
| Subtotal of cash used in operating activities | 2,317,143,316.63 | 2,908,622,856.32 |
| Net cash generated from/used in operating activities | 510,441,096.28 | -103,806,526.11 |
| 2. Cash flows from investing activities: | ||
| Proceeds from disinvestment | 160,000,000.00 | 19,221,175.20 |
| Investment income | 45,348,316.28 | 479,129,177.90 |
| Net proceeds from disposal of fixed assets, intangible assets and other long-lived assets | 507,597.20 | 1,626,000.00 |
| Net proceeds from disposal of subsidiaries or other business units | ||
| Cash generated from other investing activities | ||
| Subtotal of cash generated from investing activities | 205,855,913.48 | 499,976,353.10 |
| Payments for acquisition of fixed assets, intangible assets and other long-lived assets | 136,815,616.01 | 177,317,139.48 |
| Payments for investments | 310,000,000.00 | |
| Net increase in pledged loans granted | ||
| Net payments for acquisition of subsidiaries and other business units | ||
| Cash used in other investing activities | 89,951,527.02 | |
| Subtotal of cash used in investing activities | 226,767,143.03 | 487,317,139.48 |
| Net cash generated from/used in investing activities | -20,911,229.55 | 12,659,213.62 |
| 3. Cash flows from financing activities: | ||
| Capital contributions received | ||
| Including: Capital contributions by non-controlling interests to subsidiaries | ||
| Increase in borrowings obtained | ||
| Net proceeds from issuance of bonds | ||
| Cash generated from other financing activities | ||
| Subtotal of cash generated from financing activities | ||
| Repayment of borrowings | ||
| Payments for interest and dividends | 405,163,764.00 | 522,068,416.83 |
| Including: Dividends paid by subsidiaries to non-controlling interests | 5,660,290.78 | |
| Cash used in other financing activities | ||
| Subtotal of cash used in financing activities | 405,163,764.00 | 522,068,416.83 |
| Net cash generated from/used in financing activities | -405,163,764.00 | -522,068,416.83 |
| 4. Effect of foreign exchange rate changes on cash and cash equivalents | 5,036,692.65 | -3,350,808.67 |
| 5. Net increase in cash and cash equivalents | 89,402,795.38 | -616,566,537.99 |
| Add: Cash and cash equivalents, beginning of the period | 570,184,208.96 | 1,479,283,642.54 |
| 6. Cash and cash equivalents, end of the period | 659,587,004.34 | 862,717,104.55 |
Legal representative: He Yong General Manager: Liu XingmingChief Financial Officer: Tang Qionglan
8. Cash Flow Statement of the Company as the Parent for Q1~Q3
Unit: RMB
| Item | Q1~Q3 2018 | Q1~Q3 2017 |
| 1. Cash flows from operating activities: | ||
| Proceeds from sale of commodities and rendering of services | 2,555,607,130.21 | 2,602,335,552.74 |
| Tax rebates | 109,928,355.77 | 74,944,574.17 |
| Cash generated from other operating activities | 57,831,655.01 | 33,784,521.55 |
| Subtotal of cash generated from operating activities | 2,723,367,140.99 | 2,711,064,648.46 |
| Payments for commodities and services | 1,638,169,956.39 | 2,191,779,261.68 |
| Cash paid to and for employees | 311,008,108.99 | 236,224,216.19 |
| Taxes paid | 124,616,603.82 | 242,191,570.41 |
| Cash used in other operating activities | 141,247,884.47 | 172,691,140.62 |
| Subtotal of cash used in operating activities | 2,215,042,553.67 | 2,842,886,188.90 |
| Net cash generated from/used in operating activities | 508,324,587.32 | -131,821,540.44 |
| 2. Cash flows from investing activities: | ||
| Proceeds from disinvestment | 140,000,000.00 | 19,221,175.20 |
| Investment income | 73,422,562.27 | 492,162,728.87 |
| Net proceeds from disposal of fixed assets, intangible assets and other long-lived assets | 1,580,000.00 | |
| Net proceeds from disposal of subsidiaries or other business units | ||
| Cash generated from other investing activities | ||
| Subtotal of cash generated from investing activities | 213,422,562.27 | 512,963,904.07 |
| Payments for acquisition of fixed assets, intangible assets and other long-lived assets | 129,942,619.86 | 164,644,278.87 |
| Payments for investments | 265,000,000.00 | |
| Net payments for acquisition of subsidiaries and other business units | ||
| Cash used in other investing activities | 89,951,527.02 | |
| Subtotal of cash used in investing activities | 219,894,146.88 | 429,644,278.87 |
| Net cash generated from/used in investing activities | -6,471,584.61 | 83,319,625.20 |
| 3. Cash flows from financing activities: | ||
| Capital contributions received | ||
| Increase in borrowings obtained |
| Net proceeds from issuance of bonds | ||
| Cash generated from other financing activities | ||
| Subtotal of cash generated from financing activities | ||
| Repayment of borrowings | ||
| Payments for interest and dividends | 405,163,764.00 | 516,408,126.05 |
| Cash used in other financing activities | ||
| Sub-total of cash used in financing activities | 405,163,764.00 | 516,408,126.05 |
| Net cash generated from/used in financing activities | -405,163,764.00 | -516,408,126.05 |
| 4. Effect of foreign exchange rate changes on cash and cash equivalents | 5,004,415.19 | -3,350,808.67 |
| 5. Net increase in cash and cash equivalents | 101,693,653.90 | -568,260,849.96 |
| Add: Cash and cash equivalents, beginning of the period | 502,169,100.40 | 1,235,417,964.88 |
| 6. Cash and cash equivalents, end of the period | 603,862,754.30 | 667,157,114.92 |
Legal representative: He Yong General Manager: Liu XingmingChief Financial Officer: Tang Qionglan
II Independent Auditor’s Report
Indicate by tick mark whether the financial statements above have been audited by an independent auditor.
□Yes √ No
These financial statements have not been audited by such an auditor.
The Board of Directors
Foshan Electrical and Lighting Co., Ltd.25 October 2018