SHENZHENPROPERTIES&RESOURCES
DEVELOPMENT(GROUP)LTD.
FIRSTQUARTERREPORT2020
(AnnouncementNo.2020-23)
April2020
PartIImportantNotesTheBoardofDirectors(orthe“Board”),theSupervisoryCommitteeaswellasthedirectors,supervisorsandseniormanagementofShenZhenProperties&ResourcesDevelopment(Group)Ltd.(hereinafterreferredtoasthe“Company”)herebyguaranteethefactuality,accuracyandcompletenessofthecontentsofthisReportanditssummary,andshallbejointlyandseverallyliableforanymisrepresentations,misleadingstatementsormaterialomissionstherein.AlltheCompany’sdirectorshaveattendedtheBoardmeetingforthereviewofthisReportanditssummary.LiuShengxiang,theCompany’slegalrepresentative,CaiLili,theCompany’sheadoffinancialaffairs,andLiuQiang,headoftheCompany’sfinancialdepartment(equivalenttofinancialmanager)herebyguaranteethattheFinancialStatementscarriedinthisReportarefactual,accurateandcomplete.ThisReportanditssummaryhavebeenpreparedinbothChineseandEnglish.Shouldtherebeanydiscrepanciesormisunderstandingsbetweenthetwoversions,theChineseversionsshallprevail.
PartIIKeyCorporateInformationIKeyFinancialInformation
Indicatebytickmarkwhetherthereisanyretrospectivelyrestateddatuminthetablebelow.
√Yes□NoReasonforretrospectiverestatementBusinesscombinationunderthesamecontrol
Q12020
| Q12020 | Q12019 | Change(%) | ||
| Before | After | After | ||
| Operatingrevenue(RMB) | 861,546,080.08 | 385,944,107.52 | 524,703,768.39 | 64.20% |
| Netprofitattributabletothelistedcompany’sshareholders(RMB) | 152,014,318.10 | 78,431,920.59 | 95,281,689.98 | 59.54% |
| Netprofitattributabletothelistedcompany’sshareholdersbeforeexceptionalitems(RMB) | 152,909,860.77 | 77,831,706.94 | 94,455,738.08 | 61.89% |
| Netcashgeneratedfrom/usedinoperatingactivities(RMB) | -609,307,576.52 | -64,518,467.02 | -30,874,623.89 | 1,873.49% |
| Basicearningspershare(RMB/share) | 0.2551 | 0.1316 | 0.1599 | 59.54% |
| Dilutedearningspershare(RMB/share) | 0.2551 | 0.1316 | 0.1599 | 59.54% |
| Weightedaveragereturnonequity(%) | 4.72% | 2.32% | 2.42% | 2.30% |
| 31March2020 | 31December2019 | Change(%) | ||
| Before | After | After | ||
| Totalassets(RMB) | 11,287,993,362.09 | 10,772,491,740.53 | 10,772,491,740.53 | 4.79% |
| Equityattributabletothelistedcompany’sshareholders(RMB) | 3,298,549,330.03 | 3,147,949,009.38 | 3,147,949,009.38 | 4.78% |
Exceptionalgainsandlosses:
√Applicable□Notapplicable
Unit:RMB
| Item | Q12020 | Note |
| Gainorlossondisposalofnon-currentassets(inclusiveofimpairmentallowancewrite-offs) | -458.25 | Disposalofmiscellaneousfixedassets |
| Governmentsubsidiesrecognizedinthecurrentperiod,exceptforthoseacquiredintheordinarycourseofbusinessorgrantedatcertainquotasoramountsaccordingtothegovernment’sunifiedstandards | 298,303.57 | Governmentsubsidyforepidemic |
Non-operatingincomeandexpenseotherthantheabove
| Non-operatingincomeandexpenseotherthantheabove | -1,591,336.74 | ExpenseonspecialfunddonationofRMB2millionforassistingHubeiProvince |
| Less:Incometaxeffects | -397,948.75 | |
| Total | -895,542.67 | -- |
ExplanationofwhytheCompanyreclassifiesasrecurrentanexceptionalgain/lossitemdefinedorlistedintheExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic—ExceptionalGain/LossItems:
□Applicable√NotapplicableNosuchcasesfortheReportingPeriod.IITotalNumberofShareholdersandHoldingsofTop10Shareholdersat31March2020
1.NumbersofOrdinaryShareholdersandPreferredShareholderswithResumedVotingRightsaswellasHoldingsofTop10Shareholders
Unit:share
| Numberofordinaryshareholdersattheperiod-end | 38,645 | Numberofpreferredshareholderswithresumedvotingrightsattheperiod-end(ifany) | 0 | |||||
| Top10shareholders | ||||||||
| Nameofshareholder | Natureofshareholder | Shareholdingpercentage | Totalsharesheld | Restrictedsharesheld | Sharesinpledgeorfrozen | |||
| Status | Shares | |||||||
| ShenzhenInvestmentHoldingsCorporation | State-ownedlegalperson | 57.96% | 345,412,223 | 3,326 | ||||
| ChinaOrientAssetManagementCo.,Ltd. | State-ownedlegalperson | 5.87% | 34,970,000 | |||||
| DuanShaoteng | Domesticnaturalperson | 0.32% | 1,935,855 | |||||
| ShenzhenDuty-FreeCommodityEnterprisesCo.,Ltd. | Domesticnon-state-ownedlegalperson | 0.29% | 1,730,300 | 1,730,300 | ||||
| YangYaochu | Domesticnaturalperson | 0.24% | 1,425,020 | |||||
| LiJing | Domesticnaturalperson | 0.23% | 1,360,040 | |||||
| ShantouRealEstateHexinCo.,Ltd. | Domesticnon-state-owned | 0.23% | 1,352,861 | |||||
legalperson
| legalperson | ||||||
| ChinaIndustrialSecuritiesCo.,Ltd.-BroadJiuhangHybridSecuritiesInvestmentFund | Other | 0.21% | 1,251,100 | |||
| MaiFurong | Domesticnaturalperson | 0.20% | 1,221,500 | |||
| ChinaConstructionBankCorporation-GreatWallQuantifiedSmall-capStockSecuritiesInvestmentFund | Other | 0.18% | 1,050,000 | |||
| Top10unrestrictedshareholders | ||||||
| Nameofshareholder | Unrestrictedsharesheld | Sharesbytype | ||||
| Type | Shares | |||||
| ShenzhenInvestmentHoldingsCorporation | 345,408,897 | RMB-denominatedordinarystock | 345,408,897 | |||
| ChinaOrientAssetManagementCo.,Ltd. | 34,970,000 | RMB-denominatedordinarystock | 34,970,000 | |||
| DuanShaoteng | 1,935,855 | RMB-denominatedordinarystock | 1,935,855 | |||
| YangYaochu | 1,425,020 | Domesticallylistedforeignstock | 1,425,020 | |||
| LiJing | 1,360,040 | Domesticallylistedforeignstock | 1,360,040 | |||
| ShantouRealEstateHexinCo.,Ltd. | 1,352,861 | RMB-denominatedordinarystock | 1,352,861 | |||
| ChinaIndustrialSecuritiesCo.,Ltd.-BroadJiuhangHybridSecuritiesInvestmentFund | 1,251,100 | RMB-denominatedordinarystock | 1,251,100 | |||
| MaiFurong | 1,221,500 | Domesticallylistedforeignstock | 1,221,500 | |||
| ChinaConstructionBankCorporation-GreatWallQuantifiedSmall-capStockSecuritiesInvestmentFund | 1,050,000 | RMB-denominatedordinarystock | 1,050,000 | |||
| WangHui | 900,000 | Domesticallylistedforeignstock | 900,000 | |||
| Relatedoracting-in-concertpartiesamongtheshareholdersabove | Thefirstlargestshareholder,ShenzhenInvestmentHoldingCorporation,istheactualcontrollingshareholderoftheCompany.AndtheCompanydoesnotknow | |||||
whethertherearerelatedpartiesoracting-in-concertpartiesamongtheother9shareholders.
| whethertherearerelatedpartiesoracting-in-concertpartiesamongtheother9shareholders. | |
| Top10ordinaryshareholdersinvolvedinsecuritiesmargintrading(ifany) | N/A |
Indicatebytickmarkwhetheranyofthetop10ordinaryshareholdersorthetop10unrestrictedordinaryshareholdersoftheCompanyconductedanypromissoryrepoduringtheReportingPeriod.
□Yes√NoNosuchcasesintheReportingPeriod.
2.NumberofPreferredShareholdersandShareholdingsofTop10ofThem
□Applicable√Notapplicable
PartIIISignificantEventsIChangesinKeyFinancialStatementLineItemsandExplanationofwhy
√Applicable□Notapplicable
1.AccountsreceivablestoodatRMB298,975,721.06asat31March2020,rising37.83%comparedto31December2019,primarilydrivenbytheincreaseinpropertymanagementchargesandrentsreceivable.
2.PrepaymentsstoodatRMB94,177,685.77asat31March2020,rising35.42%comparedto31December2019,primarilydrivenbytheincreaseindemolitionservicefeeprepaid.
3.OthercurrentassetsstoodatRMB15,479,937.23asat31March2020,declining63.58%comparedto31December2019,primarilydrivenbythedecreaseindebitbalanceoftaxespayableneedingtobereclassified.
4.Othernon-currentassetsstoodatRMB6,974,331.66asat31December2020,rising48.01%comparedto31December2019,primarilydrivenbytheincreaseinprepaymentsforexpensesrelatedtoacquisitionorconstructionoflong-termassets.
5.AdvancesfromcustomersstoodatRMB194,116,954.09asat31March2020,declining73.34%comparedto31December2019,primarilydrivenbythattheadvancesfromcommercialbuildingsaleshadreachedthecarry-forwardincomeconditions.
6.Currentportionofnon-currentliabilitiesstoodatRMB5,237,946.33asat31March2020,rising33.59%comparedto31December2019,primarilydrivenbytheincreaseinwithdrawninterestpayable.
7.Long-termborrowingsstoodatRMB3,000,833,000.00asat31March2020,rising36.78%comparedto31December2019,primarilydrivenbynewbankborrowings.
8.OperatingRevenuestoodatRMB861,546,080.08duringQ12020,rising64.20%comparedtoQ12019,primarilydrivenbytheincreaseinincomefromrealestatebusinesscausedbyYoYincreaseinprojectclearingareaandunitprice.
9.TaxesandsurchargesstoodatRMB266,678,061.72duringQ12020,rising362.54%comparedtoQ12019,primarilydrivenbytheincreaseinVAToflandcausedbytheincreaseincarry-forwardincomefromrealestatebusinessandhighvalue-addedrateofcarry-forwardprojects.
10.FinancecostsstoodatRMB21,628,629.97duringQ12020andthatofQ12019atRMB-2,785,169.31,primarilydrivenbytheincreaseininterestexpense.
11.InvestmentincomestoodatRMB-10,994.73duringQ12020andthatofQ12019atRMB473,204.19,primarilydrivenbythedecreaseinrealizedincomeofjointventuresoftheCompanyaffectedbytheepidemic.
12.Non-operatingexpensestoodatRMB2,078,006.42duringQ12020,rising260.83%comparedtoQ12019,primarilydrivenbyspecialfunddonationofRMB2millionforassistingHubeiProvince.
13.IncometaxexpensestoodatRMB71,031,397.02duringQ12020,rising95.32%comparedtoQ12019,primarilydrivenbytheincreaseinrealizedprofitoftheCompany.
14.Netcashgeneratedfrom/usedinoperatingactivitiesstoodatRMB-609,307,576.52duringQ12020,andthenetcashusedinoperatingactivitiesrose1873.49%comparedtothatofQ12019,primarilydrivenbytheincreaseinexpenseonconstructionprojectsandtaxpaymentsduringQ12020.
15.Netcashgeneratedfrom/usedinfinancingactivitiesstoodatRMB772,655,600.48duringQ12020,andthatofQ12019atRMB-60,321,156.25,primarilydrivenbyobtainingnewloansofRMB0.807billionduringQ12020.
IIProgress,InfluenceandSolutionswithregardtoSignificantEvents
√Applicable□Notapplicable
1.On4March2020,thecontrollingshareholderoftheCompany,ShenzhenInvestmentHoldingsCo.,Ltd.agreedtotransferpartialCompany’ssharesandhasfinishedthetransferregistrationproceduresinChinaSecuritiesDepositoryandClearingCo.,Ltd.afterthecompletionofthetransfer,ShenzhenInvestmentHoldingsCo.,Ltd.holds345,412,223sharesoftheCompany,reducingto
57.96%from63.82%,whilestillbethecontrollingshareholder.ChinaOrientAssetManagementCo.,Ltd.holds34,970,000shares,accountingfor5.87%ofthetotalshares,whichhasbeenthesecondlargestshareholdersholdingover5%oftheCompany’sshares.TheCompanyhasdisclosedtheinformationindesignatedmediaandnewspaperon6March2020.
2.Inorderoffightagainsttheepidemicsituationtogether,fulfillsocialresponsibilitiesactively,acceleratetheimplementationofthedecisionsandplansofovercomingtheepidemicsituationandsupportingenterprisesbyShenzhenMunicipalGovernmentandShenzhenState-ownedAssetsSupervisionandAdministrationCommission,theCompanyhastakenmeasuresofrentalreduction,anddisclosedtheinformationindesignatedmediaandnewspaperon3March2020.
3.InordertoresponsethecallofShenzhenState-ownedAssetsSupervisionandAdministrationCommission,furtherpromotetheconcentrationofhigh-qualityresourcestoadvancedenterprisesespeciallytolistedcompanies,improvethedevelopmentpotentialofthelistedcompanies,optimizeandenhancetheindustrialstructureoflistedcompany,andexpandandstrengthentheadvancedmainbusiness,theCompanyintendedtoacquire100%ofequityinShenzhenToukongPropertyManagementCo.,Ltd.(hereinafterreferredtoas“TKProperty”)heldbyShenzhenInvestmentHoldingsCo.,Ltd..TheequityacquisitionhasbeenapprovedbytheBoardofDirectorsandGeneralMeetingafterthedeliberationofthe8
th
Meetingofthe9
thBoardofDirectorson6September2019andthe2
ndExtraordinaryGeneralMeetingon23September2019,inwhichtheindependentdirectorhasissuedtheauditopinionandprofessionalindependentopinion.AsoftheendoftheReportingPeriod,theCompanyhasfinishedtherelevantalterationregistrationproceduresof100%ofequityofTKProperty.
Overviewofsignificantevents
| Overviewofsignificantevents | Disclosuredate | Indextodisclosurewebsiteforinterimreport |
| ShenzhenInvestmentHoldingsCo.,Ltd.,thecontrollingshareholderoftheCompany,agreedtotransferpartialsharesoftheCompanytoChinaOrientAssetManagementCo.,Ltd. | 2January2020 | AnnouncementonProgressofPartialSharesTransferbyControllingShareholderandEquityChanges(AnnouncementNo.2020-1)onwww.cninfo.com.cn |
| 6March2020 | AnnouncementonCompletionofTransferRegistrationofPartialSharesbyControllingShareholder(AnnouncementNo.2020-6)onwww.cninfo.com.cn | |
| Rentalreduction | 3March2020 | AnnouncementonVoluntaryDisclosureofRentalReduction(AnnouncementNo.2020-4)onwww.cninfo.com.cn |
| Theacquisitionof100%equityofShenzhenToukongPropertyManagementCo.,Ltd.andrelated-partytransaction | 13December2018 | AnnouncementonSigningLetterofEquityTransferIntentwithControllingShareholder(AnnouncementNo.2018-39)onwww.cninfo.com.cn |
| 7September2019 | AnnouncementonAcquisitionof100%EquityofShenzhenToukongPropertyManagementCo.,Ltd.andRelated-partyTransaction(AnnouncementNo.2019-30)onwww.cninfo.com.cn | |
| 21September2019 | AnnouncementonAcquisitionof100%EquityofShenzhenToukongPropertyManagementCo.,Ltd. |
andRelated-partyTransaction(AnnouncementNo.2019-33)onwww.cninfo.com.cn
| andRelated-partyTransaction(AnnouncementNo.2019-33)onwww.cninfo.com.cn | |
| 9November2019 | AnnouncementonAcquisitionof100%EquityofShenzhenToukongPropertyManagementCo.,Ltd.andRelated-partyTransaction(AnnouncementNo.2019-47)onwww.cninfo.com.cn |
| 28November2019 | AnnouncementonAcquisitionof100%EquityofShenzhenToukongPropertyManagementCo.,Ltd.andRelated-partyTransaction(AnnouncementNo.2019-50)onwww.cninfo.com.cn |
Progressofanysharerepurchases:
□Applicable√NotapplicableProgressofanyreductionoftherepurchasedsharesthroughcentralizedbidding:
□Applicable√NotapplicableIIICommitmentsthattheCompany’sActualController,Shareholders,RelatedParties,Acquirers,theCompanyItselforOtherParties,FailedtoFulfillonTimeduringtheReportingPeriod
□Applicable√NotapplicableNosuchcasesintheReportingPeriod.
IVSecuritiesInvestment
√Applicable□Notapplicable
Unit:RMB
| Varietyofsecurity | Symbolofsecurity | Nameofsecurity | Initialinvestmentcost | Accountingmeasurementmodel | Beginningcarryingvalue | Gain/lossofchangesinfairvalueintheReportingPeriod | Accumulativechangesinfairvaluerecordedintoequities | PurchasedintheReportingPeriod | SoldintheReportingPeriod | Gain/lossinReportingPeriod | Endingcarryingvalue | Accountingtitle | Capitalsource |
| Domestic/o | 400016、 | GintianA, | 3,565,856.0 | Fairvalue | 1,580,475.8 | -329,260.4 | -2,380,528. | 0.00 | 0.00 | 0.00 | 1,251,215.4 | Otherequity | Obtainedin |
verseasstock
| verseasstock | 420016 | GintianB | 6 | measurement | 6 | 1 | 65 | 5 | instrumentinvestment | debtrestructuring | |||
| Total | 3,565,856.06 | -- | 1,580,475.86 | -329,260.41 | -2,380,528.65 | 0.00 | 0.00 | 0.00 | 1,251,215.45 | -- | -- | ||
| DisclosuredateofannouncementonBoard’sconsentforsecuritiesinvestment | |||||||||||||
| Disclosuredateofannouncementonshareholders’meeting’sconsentforsecuritiesinvestment(ifany) | |||||||||||||
VWealthManagementEntrustment
□Applicable√NotapplicableNosuchcasesintheReportingPeriod.VIInvestmentsinDerivativeFinancialInstruments
□Applicable√NotapplicableNosuchcasesintheReportingPeriod.VIICommunicationswiththeInvestmentCommunitysuchasResearches,InquiriesandInterviewsduringtheReportingPeriod
√Applicable□Notapplicable
| Date | Wayofcommunication | Typeofcommunicationparty | Indextomaininformationcommunicated |
| 2January2020 | EasyIRplatformofSZSE | Individual | Inquiredofdisclosureinformationof2011AnnualReport |
| 6January2020 | EasyIRplatformofSZSE | Individual | InquiredofcompletionofGoldenCollarProject |
| 24February2020 | EasyIRplatformofSZSE | Individual | InquiredofsharetransferofShenzhenInvestmentHoldings |
| 4March2020 | Byphone | Individual | InquiredofstockperformancebusinessperformanceoftheCompany |
5March2020
| 5March2020 | EasyIRplatformofSZSE | Individual | InquiredoftrusteeshipofForeignTradeGroup |
| 18March2020 | Byphone | Individual | Inquiredofprojectconstructionintheannualreport |
| 18March2020 | Byphone | Individual | Inquiredofinventoriesandprojectconstructionintheannualreport |
| 18March2020 | Byphone | Individual | InquiredofpropertymanagementincomeintheannualreportandtheprogressofBanglingProject |
| 21March2020 | EasyIRplatformofSZSE | Individual | InquiredofperformanceofRongyaoRealEstate |
| 23March2020 | Byphone | Individual | Inquiredoftheproportionofbusinessdivisionintheannualreportandprojectprogress |
VIIIIrregularitiesintheProvisionofGuarantees
□Applicable√NotapplicableNosuchcasesintheReportingPeriod.IXOccupationoftheCompany’sCapitalbytheControllingShareholderorItsRelatedPartiesforNon-OperatingPurposes
□Applicable√NotapplicableNosuchcasesintheReportingPeriod.
PartIVFinancialStatementsIFinancialStatements
1.ConsolidatedBalanceSheetPreparedbyShenZhenProperties&ResourcesDevelopment(Group)Ltd.
31March2020
Unit:RMB
Item
| Item | 31March2020 | 31December2019 |
| Currentassets: | ||
| Monetaryassets | 3,463,320,372.92 | 3,297,890,935.91 |
| Settlementreserve | ||
| Interbankloansgranted | ||
| Held-for-tradingfinancialassets | ||
| Derivativefinancialassets | ||
| Notesreceivable | ||
| Accountsreceivable | 298,975,721.06 | 216,923,663.25 |
| Accountsreceivablefinancing | ||
| Prepayments | 94,177,685.77 | 69,546,774.17 |
| Premiumsreceivable | ||
| Reinsurancereceivables | ||
| Receivablereinsurancecontractreserve | ||
| Otherreceivables | 798,858,900.07 | 917,981,165.74 |
| Including:Interestreceivable | ||
| Dividendsreceivable | ||
| Financialassetspurchasedunderresaleagreements | ||
| Inventories | 5,283,561,318.69 | 4,913,510,876.66 |
| Contractualassets | ||
| Assetsclassifiedasheldforsale | ||
| Currentportionofnon-currentassets | ||
| Othercurrentassets | 15,479,937.23 | 42,500,585.94 |
Totalcurrentassets
| Totalcurrentassets | 9,954,373,935.74 | 9,458,354,001.67 |
| Non-currentassets: | ||
| Loansandadvancestocustomers | ||
| Investmentsindebtobligations | ||
| Investmentsinotherdebtobligations | ||
| Long-termreceivables | ||
| Long-termequityinvestments | 45,065,127.99 | 45,076,122.72 |
| Investmentsinotherequityinstruments | 1,251,215.45 | 1,580,475.86 |
| Othernon-currentfinancialassets | ||
| Investmentproperty | 495,358,857.42 | 503,323,428.61 |
| Fixedassets | 91,107,930.38 | 93,557,782.83 |
| Constructioninprogress | ||
| Productivelivingassets | ||
| Oilandgasassets | ||
| Userightsassets | ||
| Intangibleassets | 513,875.22 | 700,369.66 |
| R&Dexpense | ||
| Goodwill | ||
| Long-termprepaidexpense | 6,763,383.23 | 7,034,472.79 |
| Deferredincometaxassets | 686,584,705.00 | 658,153,122.73 |
| Othernon-currentassets | 6,974,331.66 | 4,711,963.66 |
| Totalnon-currentassets | 1,333,619,426.35 | 1,314,137,738.86 |
| Totalassets | 11,287,993,362.09 | 10,772,491,740.53 |
| Currentliabilities: | ||
| Short-termborrowings | ||
| Borrowingsfromthecentralbank | ||
| Interbankloansobtained | ||
| Held-for-tradingfinancialliabilities | ||
| Derivativefinancialliabilities | ||
| Notespayable | ||
| Accountspayable | 504,355,538.60 | 577,689,139.10 |
| Advancesfromcustomers | 194,116,954.09 | 728,186,032.63 |
Contractualliabilities
| Contractualliabilities | ||
| Financialassetssoldunderrepurchaseagreements | ||
| Customerdepositsandinterbankdeposits | ||
| Payablesforactingtradingofsecurities | ||
| Payablesforunderwritingofsecurities | ||
| Payrollpayable | 124,222,035.64 | 143,493,868.80 |
| Taxespayable | 2,672,775,395.02 | 2,598,283,291.68 |
| Otherpayables | 1,277,433,713.45 | 1,149,104,928.85 |
| Including:Interestpayable | ||
| Dividendspayable | 12,202,676.04 | 12,202,676.04 |
| Handlingchargesandcommissionspayable | ||
| Reinsurancepayables | ||
| Liabilitiesdirectlyassociatedwithassetsclassifiedasheldforsale | ||
| Currentportionofnon-currentliabilities | 5,237,946.33 | 3,921,032.24 |
| Othercurrentliabilities | ||
| Totalcurrentliabilities | 4,778,141,583.13 | 5,200,678,293.30 |
| Non-currentliabilities: | ||
| Insurancecontractreserve | ||
| Long-termborrowings | 3,000,833,000.00 | 2,193,833,000.00 |
| Bondspayable | ||
| Including:Preferredshares | ||
| Perpetualbonds | ||
| Leaseliabilities | ||
| Long-termpayables | ||
| Long-termpayrollpayable | ||
| Provisions | 2,903,327.87 | 2,903,327.87 |
| Deferredincome | 341,259.63 | 341,259.63 |
| Deferredincometaxliabilities | 3,821.08 | 3,821.08 |
| Othernon-currentliabilities | 111,694,340.84 | 108,164,737.46 |
| Totalnon-currentliabilities | 3,115,775,749.42 | 2,305,246,146.04 |
Totalliabilities
| Totalliabilities | 7,893,917,332.55 | 7,505,924,439.34 |
| Owners’equity: | ||
| Sharecapital | 595,979,092.00 | 595,979,092.00 |
| Otherequityinstruments | ||
| Including:Preferredshares | ||
| Perpetualbonds | ||
| Capitalreserves | 80,488,045.38 | 80,488,045.38 |
| Less:Treasurystock | ||
| Othercomprehensiveincome | -4,112,368.89 | -2,698,371.44 |
| Specificreserve | ||
| Surplusreserves | 17,060,448.05 | 17,060,448.05 |
| Generalreserve | ||
| Retainedearnings | 2,609,134,113.49 | 2,457,119,795.39 |
| TotalequityattributabletoownersoftheCompanyastheparent | 3,298,549,330.03 | 3,147,949,009.38 |
| Non-controllinginterests | 95,526,699.51 | 118,618,291.81 |
| Totalowners’equity | 3,394,076,029.54 | 3,266,567,301.19 |
| Totalliabilitiesandowners’equity | 11,287,993,362.09 | 10,772,491,740.53 |
Legalrepresentative:LiuShengxiangHeadoffinancialaffairs:CaiLiliHeadofthefinancialdepartment:LiuQiang
2.BalanceSheetoftheCompanyastheParent
Unit:RMB
| Item | 31March2020 | 31December2019 |
| Currentassets: | ||
| Monetaryassets | 2,786,666,477.84 | 2,455,001,204.14 |
| Held-for-tradingfinancialassets | ||
| Derivativefinancialassets | ||
| Notesreceivable | ||
| Accountsreceivable | 4,432,693.46 | 755,932.14 |
| Accountsreceivablefinancing | ||
| Prepayments | 508,591.09 | 496,729.09 |
| Otherreceivables | 375,529,093.37 | 501,082,153.81 |
| Including:Interestreceivable |
Dividendsreceivable
| Dividendsreceivable | ||
| Inventories | 625,506,701.19 | 624,499,208.02 |
| Contractualassets | ||
| Assetsclassifiedasheldforsale | ||
| Currentportionofnon-currentassets | ||
| Othercurrentassets | 383,792.83 | 1,113,935.28 |
| Totalcurrentassets | 3,793,027,349.78 | 3,582,949,162.48 |
| Non-currentassets: | ||
| Investmentsindebtobligations | ||
| Investmentsinotherdebtobligations | ||
| Long-termreceivables | ||
| Long-termequityinvestments | 1,070,531,008.38 | 1,070,542,003.11 |
| Investmentsinotherequityinstruments | 1,481,715.45 | 1,810,975.86 |
| Othernon-currentfinancialassets | ||
| Investmentproperty | 307,491,893.39 | 312,638,785.76 |
| Fixedassets | 25,118,139.40 | 26,337,488.29 |
| Constructioninprogress | ||
| Productivelivingassets | ||
| Oilandgasassets | ||
| Userightsassets | ||
| Intangibleassets | ||
| R&Dexpense | ||
| Goodwill | ||
| Long-termprepaidexpense | 562,172.22 | 605,416.29 |
| Deferredincometaxassets | 344,168,332.90 | 343,958,821.07 |
| Othernon-currentassets | 1,089,298,553.68 | 1,613,657,031.92 |
| Totalnon-currentassets | 2,838,651,815.42 | 3,369,550,522.30 |
| Totalassets | 6,631,679,165.20 | 6,952,499,684.78 |
| Currentliabilities: | ||
| Short-termborrowings | ||
| Held-for-tradingfinancialliabilities |
Derivativefinancialliabilities
| Derivativefinancialliabilities | ||
| Notespayable | ||
| Accountspayable | 39,975,866.24 | 64,503,938.37 |
| Advancesfromcustomers | 208,088.58 | 320,469.53 |
| Contractualliabilities | ||
| Payrollpayable | 29,653,474.22 | 36,735,205.68 |
| Taxespayable | 1,330,434,497.42 | 1,322,751,671.37 |
| Otherpayables | 2,820,613,878.36 | 3,146,684,268.89 |
| Including:Interestpayable | ||
| Dividendspayable | 29,642.40 | 29,642.40 |
| Liabilitiesdirectlyassociatedwithassetsclassifiedasheldforsale | ||
| Currentportionofnon-currentliabilities | ||
| Othercurrentliabilities | ||
| Totalcurrentliabilities | 4,220,885,804.82 | 4,570,995,553.84 |
| Non-currentliabilities: | ||
| Long-termborrowings | ||
| Bondspayable | ||
| Including:Preferredshares | ||
| Perpetualbonds | ||
| Leaseliabilities | ||
| Long-termpayables | ||
| Long-termpayrollpayable | ||
| Provisions | ||
| Deferredincome | ||
| Deferredincometaxliabilities | ||
| Othernon-currentliabilities | 40,000,000.00 | 40,000,000.00 |
| Totalnon-currentliabilities | 40,000,000.00 | 40,000,000.00 |
| Totalliabilities | 4,260,885,804.82 | 4,610,995,553.84 |
| Owners’equity: | ||
| Sharecapital | 595,979,092.00 | 595,979,092.00 |
| Otherequityinstruments | ||
| Including:Preferredshares | ||
| Perpetualbonds |
Capitalreserves
| Capitalreserves | 53,876,380.11 | 53,876,380.11 |
| Less:Treasurystock | ||
| Othercomprehensiveincome | -2,380,528.65 | -2,051,268.24 |
| Specificreserve | ||
| Surplusreserves | 16,403,637.61 | 16,403,637.61 |
| Retainedearnings | 1,706,914,779.31 | 1,677,296,289.46 |
| Totalowners’equity | 2,370,793,360.38 | 2,341,504,130.94 |
| Totalliabilitiesandowners’equity | 6,631,679,165.20 | 6,952,499,684.78 |
3.ConsolidatedIncomeStatement
Unit:RMB
| Item | Q12020 | Q12019 |
| 1.Revenue | 861,546,080.08 | 524,703,768.39 |
| Including:Operatingrevenue | 861,546,080.08 | 524,703,768.39 |
| Interestincome | ||
| Premiumincome | ||
| Handlingchargeandcommissionincome | ||
| 2.Costsandexpenses | 662,964,303.05 | 399,133,736.56 |
| Including:Costofsales | 330,926,955.66 | 299,142,758.17 |
| Interestexpense | ||
| Handlingchargeandcommissionexpense | ||
| Surrenders | ||
| Netclaimspaid | ||
| Netamountprovidedaspolicyreserve | ||
| Expenditureonpolicydividends | ||
| Reinsurancepremiumexpense | ||
| Taxesandsurcharges | 266,678,061.72 | 57,655,679.89 |
| Sellingexpense | 4,689,041.03 | 3,702,598.12 |
| Administrativeexpense | 39,041,614.67 | 41,417,869.69 |
| R&Dexpense | ||
| Financecosts | 21,628,629.97 | -2,785,169.31 |
Including:Interestexpense
| Including:Interestexpense | 38,309,547.10 | 13,494,997.51 |
| Interestincome | -16,103,643.77 | -16,545,473.37 |
| Add:Otherincome | 1,170,615.61 | 0.00 |
| Returnoninvestment(“-”forloss) | -10,994.73 | 473,204.19 |
| Including:Shareofprofitorlossofjointventuresandassociates | -10,994.73 | 473,204.19 |
| Incomefromthederecognitionoffinancialassetsatamortizedcost(“-”forloss) | ||
| Foreignexchangegain(“-”forloss) | ||
| Netgainonexposurehedges(“-”forloss) | ||
| Gainonchangesinfairvalue(“-”forloss) | ||
| Creditimpairmentloss(“-”forloss) | 1,016,216.33 | 0.00 |
| Assetimpairmentloss(“-”forloss) | ||
| Assetdisposalincome(“-”forloss) | ||
| 3.Operatingprofit(“-”forloss) | 200,757,614.24 | 126,043,236.02 |
| Add:Non-operatingincome | 784,515.00 | 1,401,846.79 |
| Less:Non-operatingexpense | 2,078,006.42 | 575,894.89 |
| 4.Profitbeforetax(“-”forloss) | 199,464,122.82 | 126,869,187.92 |
| Less:Incometaxexpense | 71,031,397.02 | 36,367,428.73 |
| 5.Netprofit(“-”fornetloss) | 128,432,725.80 | 90,501,759.19 |
| 5.1Byoperatingcontinuity | ||
| 5.1.1Netprofitfromcontinuingoperations(“-”fornetloss) | 128,432,725.80 | 90,501,759.19 |
| 5.1.2Netprofitfromdiscontinuedoperations(“-”fornetloss) | ||
| 5.2Byownership | ||
| 5.2.1NetprofitattributabletoownersoftheCompanyastheparent | 152,014,318.10 | 95,281,689.98 |
| 5.2.1Netprofitattributabletonon-controllinginterests | -23,581,592.30 | -4,779,930.79 |
6.Othercomprehensiveincome,netoftax
| 6.Othercomprehensiveincome,netoftax | -1,413,997.45 | 1,128,843.82 |
| AttributabletoownersoftheCompanyastheparent | -1,413,997.45 | 1,128,843.82 |
| 6.1Itemsthatwillnotbereclassifiedtoprofitorloss | -329,260.41 | 0.00 |
| 6.1.1Changescausedbyremeasurementsondefinedbenefitpensionschemes | ||
| 6.1.2Othercomprehensiveincomethatwillnotbereclassifiedtoprofitorlossundertheequitymethod | 0.00 | |
| 6.1.3Changesinthefairvalueofinvestmentsinotherequityinstruments | -329,260.41 | 0.00 |
| 6.1.4Changesinthefairvalueofthecompany’screditrisks | ||
| 6.1.5Other | ||
| 6.2Itemsthatwillbereclassifiedtoprofitorloss | -1,084,737.04 | 1,128,843.82 |
| 6.2.1Othercomprehensiveincomethatwillbereclassifiedtoprofitorlossundertheequitymethod | ||
| 6.2.2Changesinthefairvalueofinvestmentsinotherdebtobligations | ||
| 6.2.3Othercomprehensiveincomearisingfromthereclassificationoffinancialassets | ||
| 6.2.4Allowanceforcreditimpairmentsininvestmentsinotherdebtobligations | ||
| 6.2.5Reserveforcashflowhedges | ||
| 6.2.6Differencesarisingfromthetranslationofforeigncurrency-denominatedfinancialstatements | -1,084,737.04 | 1,128,843.82 |
| 6.2.7Other | ||
| Attributabletonon-controllinginterests | ||
| 7.Totalcomprehensiveincome | 127,018,728.35 | 91,630,603.01 |
| Attributabletoownersofthe | 150,600,320.65 | 96,410,533.80 |
Companyastheparent
| Companyastheparent | ||
| Attributabletonon-controllinginterests | -23,581,592.30 | -4,779,930.79 |
| 8.Earningspershare | ||
| 8.1Basicearningspershare | 0.2551 | 0.1599 |
| 8.2Dilutedearningspershare | 0.2551 | 0.1599 |
Wherebusinesscombinationsundercommoncontroloccurredinthecurrentperiod,thenetprofitachievedbytheacquireesbeforethecombinationswasRMB0.00,withtheamountforthesameperiodoflastyearbeingRMB16,853,717.77.Legalrepresentative:LiuShengxiangHeadoffinancialaffairs:CaiLiliHeadofthefinancialdepartment:LiuQiang
4.IncomeStatementoftheCompanyastheParent
Unit:RMB
| Item | Q12020 | Q12019 |
| 1.Operatingrevenue | 9,570,288.89 | 170,999,874.89 |
| Less:Costofsales | 7,201,252.82 | 32,647,485.77 |
| Taxesandsurcharges | 1,448,803.87 | 46,678,135.05 |
| Sellingexpense | 11,069.00 | 1,563,480.03 |
| Administrativeexpense | 11,018,364.52 | 11,124,847.45 |
| R&Dexpense | ||
| Financecosts | -15,068,444.79 | -12,118,735.77 |
| Including:Interestexpense | 0.00 | 0.00 |
| Interestincome | -15,074,747.59 | -12,177,082.31 |
| Add:Otherincome | ||
| Returnoninvestment(“-”forloss) | 36,174,277.60 | 2,306,537.53 |
| Including:Shareofprofitorlossofjointventuresandassociates | -10,994.73 | 473,204.19 |
| Incomefromthederecognitionoffinancialassetsatamortizedcost(“-”forloss) | ||
| Netgainonexposurehedges(“-”forloss) | ||
| Gainonchangesinfairvalue(“-”forloss) | ||
| Creditimpairmentloss(“-”for |
loss)
| loss) | ||
| Assetimpairmentloss(“-”forloss) | ||
| Assetdisposalincome(“-”forloss) | ||
| 2.Operatingprofit(“-”forloss) | 41,133,521.07 | 93,411,199.89 |
| Add:Non-operatingincome | 18,036.00 | 160,000.00 |
| Less:Non-operatingexpense | 2,000,000.00 | 319,808.09 |
| 3.Profitbeforetax(“-”forloss) | 39,151,557.07 | 93,251,391.80 |
| Less:Incometaxexpense | 9,533,067.22 | 23,200,088.89 |
| 4.Netprofit(“-”fornetloss) | 29,618,489.85 | 70,051,302.91 |
| 4.1Netprofitfromcontinuingoperations(“-”fornetloss) | 29,618,489.85 | 70,051,302.91 |
| 4.2Netprofitfromdiscontinuedoperations(“-”fornetloss) | ||
| 5.Othercomprehensiveincome,netoftax | -329,260.41 | 0.00 |
| 5.1Itemsthatwillnotbereclassifiedtoprofitorloss | -329,260.41 | 0.00 |
| 5.1.1Changescausedbyremeasurementsondefinedbenefitpensionschemes | ||
| 5.1.2Othercomprehensiveincomethatwillnotbereclassifiedtoprofitorlossundertheequitymethod | ||
| 5.1.3Changesinthefairvalueofinvestmentsinotherequityinstruments | -329,260.41 | 0.00 |
| 5.1.4Changesinthefairvalueofthecompany’screditrisks | ||
| 5.1.5Other | ||
| 5.2Itemsthatwillbereclassifiedtoprofitorloss | ||
| 5.2.1Othercomprehensiveincomethatwillbereclassifiedtoprofitorlossundertheequitymethod | ||
| 5.2.2Changesinthefairvalueofinvestmentsinotherdebtobligations | ||
| 5.2.3Othercomprehensiveincomearisingfromthe |
reclassificationoffinancialassets
| reclassificationoffinancialassets | ||
| 5.2.4Allowanceforcreditimpairmentsininvestmentsinotherdebtobligations | ||
| 5.2.5Reserveforcashflowhedges | ||
| 5.2.6Differencesarisingfromthetranslationofforeigncurrency-denominatedfinancialstatements | ||
| 5.2.7Other | ||
| 6.Totalcomprehensiveincome | 29,289,229.44 | 70,051,302.91 |
| 7.Earningspershare | ||
| 7.1Basicearningspershare | 0.0497 | 0.1175 |
| 7.2Dilutedearningspershare | 0.0497 | 0.1175 |
5.ConsolidatedCashFlowStatement
Unit:RMB
| Item | Q12020 | Q12019 |
| 1.Cashflowsfromoperatingactivities: | ||
| Proceedsfromsaleofcommoditiesandrenderingofservices | 308,259,221.14 | 606,092,852.81 |
| Netincreaseincustomerdepositsandinterbankdeposits | ||
| Netincreaseinborrowingsfromthecentralbank | ||
| Netincreaseinloansfromotherfinancialinstitutions | ||
| Premiumsreceivedonoriginalinsurancecontracts | ||
| Netproceedsfromreinsurance | ||
| Netincreaseindepositsandinvestmentsofpolicyholders | ||
| Interest,handlingchargesandcommissionsreceived | ||
| Netincreaseininterbankloansobtained | ||
| Netincreaseinproceedsfromrepurchasetransactions |
Netproceedsfromactingtradingofsecurities
| Netproceedsfromactingtradingofsecurities | ||
| Taxrebates | ||
| Cashgeneratedfromotheroperatingactivities | 278,533,921.65 | 81,041,513.07 |
| Subtotalofcashgeneratedfromoperatingactivities | 586,793,142.79 | 687,134,365.88 |
| Paymentsforcommoditiesandservices | 659,349,883.60 | 417,499,429.71 |
| Netincreaseinloansandadvancestocustomers | ||
| Netincreaseindepositsinthecentralbankandininterbankloansgranted | ||
| Paymentsforclaimsonoriginalinsurancecontracts | ||
| Netincreaseininterbankloansgranted | ||
| Interest,handlingchargesandcommissionspaid | ||
| Policydividendspaid | ||
| Cashpaidtoandforemployees | 170,204,761.13 | 154,766,206.98 |
| Taxespaid | 309,457,486.32 | 104,235,821.73 |
| Cashusedinotheroperatingactivities | 57,088,588.26 | 41,507,531.35 |
| Subtotalofcashusedinoperatingactivities | 1,196,100,719.31 | 718,008,989.77 |
| Netcashgeneratedfrom/usedinoperatingactivities | -609,307,576.52 | -30,874,623.89 |
| 2.Cashflowsfrominvestingactivities: | ||
| Proceedsfromdisinvestment | ||
| Returnoninvestment | ||
| Netproceedsfromthedisposaloffixedassets,intangibleassetsandotherlong-livedassets | 0.00 | 970.00 |
| Netproceedsfromthedisposalofsubsidiariesandotherbusinessunits | ||
| Cashgeneratedfromotherinvestingactivities | ||
| Subtotalofcashgeneratedfrominvestingactivities | 0.00 | 970.00 |
Paymentsfortheacquisitionoffixedassets,intangibleassetsandotherlong-livedassets
| Paymentsfortheacquisitionoffixedassets,intangibleassetsandotherlong-livedassets | 3,384,962.58 | 1,178,538.73 |
| Paymentsforinvestments | ||
| Netincreaseinpledgedloansgranted | ||
| Netpaymentsfortheacquisitionofsubsidiariesandotherbusinessunits | 0.00 | 1,555,272.25 |
| Cashusedinotherinvestingactivities | ||
| Subtotalofcashusedininvestingactivities | 3,384,962.58 | 2,733,810.98 |
| Netcashgeneratedfrom/usedininvestingactivities | -3,384,962.58 | -2,732,840.98 |
| 3.Cashflowsfromfinancingactivities: | ||
| Capitalcontributionsreceived | 490,000.00 | 0.00 |
| Including:Capitalcontributionsbynon-controllingintereststosubsidiaries | 490,000.00 | 0.00 |
| Borrowingsobtained | 807,000,000.00 | 0.00 |
| Cashgeneratedfromotherfinancingactivities | ||
| Subtotalofcashgeneratedfromfinancingactivities | 807,490,000.00 | 0.00 |
| Repaymentsofborrowings | ||
| Paymentsforinterestanddividends | 34,834,399.52 | 60,321,156.25 |
| Including:Dividendspaidbysubsidiariestonon-controllinginterests | ||
| Cashusedinotherfinancingactivities | ||
| Subtotalofcashusedinfinancingactivities | 34,834,399.52 | 60,321,156.25 |
| Netcashgeneratedfrom/usedinfinancingactivities | 772,655,600.48 | -60,321,156.25 |
| 4.Effectofforeignexchangeratechangesoncashandcashequivalents | 1,083,303.30 | -1,113,462.35 |
| 5.Netincreaseincashandcashequivalents | 161,046,364.68 | -95,042,083.47 |
| Add:Cashandcashequivalents, | 3,285,345,233.47 | 3,881,027,257.89 |
beginningoftheperiod
| beginningoftheperiod | ||
| 6.Cashandcashequivalents,endoftheperiod | 3,446,391,598.15 | 3,785,985,174.42 |
6.CashFlowStatementoftheCompanyastheParent
Unit:RMB
| Item | Q12020 | Q12019 |
| 1.Cashflowsfromoperatingactivities: | ||
| Proceedsfromsaleofcommoditiesandrenderingofservices | 5,388,532.54 | 210,768,021.48 |
| Taxrebates | 0.00 | |
| Cashgeneratedfromotheroperatingactivities | 150,366,853.96 | 438,941,608.53 |
| Subtotalofcashgeneratedfromoperatingactivities | 155,755,386.50 | 649,709,630.01 |
| Paymentsforcommoditiesandservices | 27,546,580.74 | 37,404,275.70 |
| Cashpaidtoandforemployees | 13,488,663.13 | 10,964,754.93 |
| Taxespaid | 5,805,090.10 | 48,051,017.73 |
| Cashusedinotheroperatingactivities | 344,578,504.62 | 64,533,773.42 |
| Subtotalofcashusedinoperatingactivities | 391,418,838.59 | 160,953,821.78 |
| Netcashgeneratedfrom/usedinoperatingactivities | -235,663,452.09 | 488,755,808.23 |
| 2.Cashflowsfrominvestingactivities: | ||
| Proceedsfromdisinvestment | 565,000,000.00 | |
| Returnoninvestment | 0.00 | 152,777.78 |
| Netproceedsfromthedisposaloffixedassets,intangibleassetsandotherlong-livedassets | 0.00 | 690.00 |
| Netproceedsfromthedisposalofsubsidiariesandotherbusinessunits | 0.00 | |
| Cashgeneratedfromotherinvestingactivities | 0.00 | |
| Subtotalofcashgeneratedfrominvestingactivities | 565,000,000.00 | 153,467.78 |
| Paymentsfortheacquisitionoffixedassets,intangibleassetsand | 2,290,332.09 | 251,436.80 |
otherlong-livedassets
| otherlong-livedassets | ||
| Paymentsforinvestments | 0.00 | 500,000,000.00 |
| Netpaymentsfortheacquisitionofsubsidiariesandotherbusinessunits | 0.00 | 1,600,000.00 |
| Cashusedinotherinvestingactivities | 0.00 | |
| Subtotalofcashusedininvestingactivities | 2,290,332.09 | 501,851,436.80 |
| Netcashgeneratedfrom/usedininvestingactivities | 562,709,667.91 | -501,697,969.02 |
| 3.Cashflowsfromfinancingactivities: | ||
| Capitalcontributionsreceived | ||
| Borrowingsobtained | ||
| Cashgeneratedfromotherfinancingactivities | ||
| Subtotalofcashgeneratedfromfinancingactivities | ||
| Repaymentsofborrowings | ||
| Paymentsforinterestanddividends | ||
| Cashusedinotherfinancingactivities | ||
| Subtotalofcashusedinfinancingactivities | ||
| Netcashgeneratedfrom/usedinfinancingactivities | ||
| 4.Effectofforeignexchangeratechangesoncashandcashequivalents | ||
| 5.Netincreaseincashandcashequivalents | 327,046,215.82 | -12,942,160.79 |
| Add:Cashandcashequivalents,beginningoftheperiod | 2,450,935,673.17 | 2,520,788,994.16 |
| 6.Cashandcashequivalents,endoftheperiod | 2,777,981,888.99 | 2,507,846,833.37 |
IIAdjustmentstotheFinancialStatements
1.AdjustmentstotheFinancialStatementsattheBeginningoftheFirstExecutionYearofanyNewStandardsGoverningRevenueorLeasesfrom2020
□Applicable√Notapplicable
2.RetrospectiveRestatementofPreviousComparativeDataduetotheFirstExecutionofanyNewStandardsGoverningRevenueorLeasesfrom2020
√Applicable□NotapplicableAccordingtotheregulationsofnewaccountingstandardsgoverningrevenue,theCompanydisclosedtheaccountingstatementsinlinewithnewaccountingstandardsgoverningrevenuefromthefirstquarterof2020anddidnotrestatecomparativedatain2019,whichdidn’tinfluencetherelevantfinancialindexin2019.TherewasnosignificantchangeintherevenuerecognitionmethodoftheCompanyresultedfromtheimplementationofnewstandardsgoverningrevenue,aswellasthenetprofit,totalassetsandnetassetsinthepriorandcurrentperiod.
IIIIndependentAuditor’sReportIndicatebytickmarkwhetherthefinancialstatementsabovehavebeenauditedbyanindependentauditor.
□Yes√NoThesefinancialstatementshavenotbeenauditedbysuchanauditor.