FIYTA HOLDINGS LTD.
2019 First Quarterly Report
April, 2019
Section 1 Important Notice
The Board of Directors, the Supervisory Committee, directors, supervisors and senior executives herebyindividually and collectively accept responsibility for the correctness, accuracy, and completeness of thecontents of this report and confirm that there are neither material omissions nor errors which would render anystatement misleading.
All the directors attended the board meeting for reviewing the Quarterly Report.
Huang Yongfeng, the Company leader, Chen Zhuo, the chief financial officer, and Tian Hui, the manager of theaccounting department (treasurer) hereby confirm the authenticity and completeness of the financial reportenclosed in this quarterly report.
Section 2 Company Profile
I. Summary of Accounting/Financial DataDoes the Company need to make retroactive adjustment or restatement of the accounting data of the previous yearsNo
| Reporting period | The same period of the previous year | Year-on-year increase/decrease in the reporting period | |
| Revenue in CNY | 893,389,751.73 | 851,815,980.69 | 4.88% |
| Net profit attributable to the Company’s shareholders, in CNY | 64,359,084.46 | 59,518,000.75 | 8.13% |
| Net profit attributable to the Company’s shareholders less the non-recurring items, in CNY | 61,517,359.28 | 54,825,312.90 | 12.21% |
| Net cash flows arising from operating activities, in CNY | 10,730,388.47 | 67,632,201.86 | -84.13% |
| Basic earning per share (CNY/share) | 0.1467 | 0.1357 | 8.11% |
| Diluted earning per share (CNY/share) | 0.1453 | 0.1357 | 7.07% |
| Return on equity, weighted average | 2.47% | 2.38% | 0.09% |
| End of the reporting period | End of the previous year | Increase/decrease at the end of the year over the end of the previous year | |
| Total assets (in CNY) | 3,579,986,668.73 | 3,599,691,650.26 | -0.55% |
| Net profit attributable to the Company’s shareholders, in CNY | 2,632,044,015.17 | 2,570,134,782.90 | 2.41% |
Non-recurring gain/loss items and the amount involved
In CNY
| Items | Amount from the year beginning to the end of the reporting period | Note |
| Gain/loss from disposal of non-current assets, including the part offset from the provision for impairment of assets | -50,642.04 | |
| The government subsidies included in the profits and losses of the current period ( (excluding government grants which are closely related to the Company’s business and conform with the national standard amount or quantity) | 3,807,765.25 | |
| Other non-operating income and expenses other than the aforesaid items | -192,401.94 | |
| Less: Amount affected by the income tax | 722,996.09 | |
| Total | 2,841,725.18 | -- |
For the Company’s non-recurring gain/loss items as defined in the Explanatory Announcement No. 1 on InformationDisclosure for Companies Offering their Securities to the Public – Non-recurring Gains and Losses and its non-recurringgain/loss items as illustrated in the Explanatory Announcement No. 1 on Information Disclosure for Companies Offeringtheir Securities to the Public – Non-recurring Gains and Losses which have been defined as recurring gains and losses, itis necessary to explain the reason.Inapplicable
II. Statement of total shareholders and shares held by the top 10 shareholders by the end of the reporting period1. Quantity of the shares held by the common shareholders and preferred shareholders whose voting rights are restoredand statement of shareholding by the top 10 shareholders
In shares
| Total common shareholders at the end of the reporting period | 31,835 | Total preference shareholders with the voting power recovered at the end of the reporting period (if any) | 0 | |||
| Shareholding by top 10 shareholders | ||||||
| Names of the Shareholders | Nature of the shareholder | Shareholding proportion | Shareholding quantity | Number of the restricted shares held | Pledging or freezing | |
| Status of the shares | Quantity | |||||
| AVIC International Holding Limited | State corporate | 36.79% | 162,977,327 | 0 | ||
| Wan Zhongbo | Domestic natural persons | 3.07% | 13,599,327 | 0 | ||
| #Yang Zugui | Domestic natural persons | 2.96% | 13,108,917 | 0 | ||
| Mo Jiadong | Domestic natural persons | 2.28% | 10,084,635 | 0 | ||
| National Social Security Fund 114 Portfolio | State corporate | 2.18% | 9,657,744 | 0 | ||
| Xizang Investment Co., Ltd. | State corporate | 1.12% | 4,976,551 | 0 | ||
| MANULIFE TEDA Fund－ Minsheng Bank－MANULIFE TEDA Value Growth Oriented Additional Issue No. 351 Assets Management Program | Domestic non-state-owned corporate | 1.10% | 4,893,559 | 0 | ||
| Shenzhen Heli Fengyuan Commerce & Trade Co., Ltd. | Domestic non-state-owned corporate | 0.61% | 2,704,000 | 0 | ||
| BANK OF COMMUNICATIONS CO.,LTD - CHANGXIN QUANTIFIED PIONEER EQUITY FUND | Domestic non-state-owned corporate | 0.57% | 2,532,201 | 0 | ||
| BANK OF COMMUNICATIONS CO.,LTD - | Domestic non-state-owned corporate | 0.27% | 1,201,200 | 0 | ||
| CHANG XIN QUANTITATIVE TYPE SMALL DISH STOCK SECURITIES INVESTMENT FUND | ||||
| Shares held by top 10 shareholders of unrestricted shares | ||||
| Name of the Shareholder | Quantity of unrestricted shares held a | Share type | ||
| Share type | Quantity | |||
| AVIC International Holding Limited | 162,977,327 | CNY ordinary shares | 162,977,327 | |
| Wan Zhongbo | 13,599,327 | CNY ordinary shares | 13,599,327 | |
| #Yang Zugui | 13,108,917 | CNY ordinary shares | 13,108,917 | |
| Mo Jiadong | 10,084,635 | CNY ordinary shares | 10,084,635 | |
| National Social Security Fund 114 Portfolio | 9,657,744 | CNY ordinary shares | 9,657,744 | |
| Xizang Investment Co., Ltd. | 4,976,551 | CNY ordinary shares | 4,976,551 | |
| MANULIFE TEDA Fund－ Minsheng Bank－MANULIFE TEDA Value Growth Oriented Additional Issue No. 351 Assets Management Program | 4,893,559 | CNY ordinary shares | 4,893,559 | |
| Shenzhen Heli Fengyuan Commerce & Trade Co., Ltd. | 2,704,000 | CNY ordinary shares | 2,704,000 | |
| BANK OF COMMUNICATIONS CO., LTD - CHANGXIN QUANTIFIED PIONEER EQUITY FUND | 2,532,201 | CNY ordinary shares | 2,532,201 | |
| BANK OF COMMUNICATIONS CO., LTD - CHANG XIN QUANTITATIVE TYPE SMALL DISH STOCK SECURITIES INVESTMENT FUND | 1,201,200 | CNY ordinary shares | 1,201,200 | |
| Explanation on the associated relationship or consistent action of the above shareholders | Inapplicable | |||
| Note to the top 10 shareholders of ordinary shares involved in margin financing & securities lending (if any) | Inapplicable | |||
Did the top ten common shareholders or top ten shareholders of unrestricted common shares conduct contractualrepurchase during the reporting period?No
2. Total preferred shareholders and the shareholding by the top 10 preferred shareholdersInapplicable
Section 3 Significant Events
Change in the major financial data and financial indicators during the reporting period and the causes
| Items | The amount at the end of the reporting period | The amount at the year beginning | Variation proportion (%) | Cause of the movement |
| Advance payments | 20,318,636.22 | 13,666,816.33 | 48.67% | It was mainly due to the increase of the advance payment during the reporting period over the year beginning |
| Other non-current assets | 5,458,879.75 | 8,949,160.42 | -39.00% | It was mainly due to the decrease of the payments for the refurbishment and equipment to be settled at the end of the reporting period over the year beginning |
| Accounts payable | 191,577,235.91 | 259,913,612.34 | -26.29% | It was mainly due to the partial payment for goods and the balance payment for the works of the Watch Industrial Base of Guangming New Zone during the reporting period |
| Advance Receipts | 27,695,233.88 | 16,459,445.00 | 68.26% | It was mainly due to the increase of the advances on sales during the reporting period over the year beginning |
| Payroll payable to the employees | 34,559,516.76 | 69,779,037.83 | -50.47% | It was mainly due to that the year-end bonus of the year 2018 payable to the employees was paid during the reporting period. |
| Taxes payable | 36,099,094.50 | 55,923,171.92 | -35.45% | It was mainly due to the decrease of the VAT payable during the reporting period over the year beginning |
| Other comprehensive income | -9,009,290.73 | -5,442,139.78 | 65.55% | It was mainly due to the influence of the converted |
| difference in foreign currency statements during the reporting period | ||||
| Net cash flows arising from operating activities | 10,730,388.47 | 67,632,201.86 | -84.13% | It was mainly due to the price of goods was paid during the reporting period and the amount of the accounts payable at the end of the reporting period decreased. |
| Net cash flows arising from investment activities | -50,729,730.85 | -20,897,671.30 | 142.75% | It was mainly due to the balance payment for the works of the Watch Industrial Base of Guangming New Zone partially paid during the reporting period |
| Net cash flows arising from financing activities | 22,731,443.97 | 63,445,267.85 | -64.17% | It was mainly due to the decrease of the bank loans over the same period of the previous year during the reporting period |
| Net increase of cash and cash equivalents | -17,400,331.36 | 109,826,844.65 | -115.84% | It was mainly due to the payment for goods and the balance payment for the works of the Watch Industrial Base of Guangming New Zone partially paid during the reporting period |
II. Progress of significant events, their effects. and analysis on the solutions1. Grant of the restricted A-shares was completedThe 3rd session of the Ninth Board of Directors and 2019 1st Extraordinary General Meeting held respectively onNovember 12, 2018 and January 11, 2019 decided to start 2018 A-Share Restricted Stock Incentive Program (Phase I),which was later on reviewed and approved at the 5th session of the Ninth Board of Directors held on January 11, 2019,and the Company eventually granted 4.224 million restricted A-shares to 128 persons eligible for the incentive. The dateof granting this part of restricted shares was January 11, 2019 (The lock-up period of these restricted shares was twoyears commencing from the date of granting) . By January 30, 2019, the work of granting the shares and registration forlisting was completed. After the share granting, the Company's total capital stock increased to 442,968,881 shares. Forthe detail, refer to the Announcement on the Completion of Granting the Restricted A-Shares according to the IncentivePlan (Phase I) (2019-009) disclosed in Securities Times, Hong Kong Commercial Daily and www.cninfo.com.
2. Matters concerning Repurchase of the Company’s Partial Domestically Listed Foreign Shares (B Shares)The 7th session of the Ninth Board of Directors held on April 4, 2019, reviewed and approved the Proposal forRepurchase o the Company’s Partial Domestically Listed Foreign Shares (B Shares). For the detail, refer to theAnnouncement on the Resolutions of the 7th Session of the Ninth Board of Directors 2019-015 and the Proposal forRepurchase o the Company’s Partial Domestically Listed Foreign Shares (B Shares) 2019-017. The said repurchaseproposal is still necessary to be submitted to the General Meeting for discussion.
In accordance with the relevant provisions of the Administration of Repurchase of Public Shares by Listed CompaniesProcedures (Trial Implementation), the Supplementary Provisions for Share Repurchase via Centralized BiddingTransactions by Listed Companies, the Rules of Shenzhen Stock Exchange for Implementation of Repurchase of PublicShares by Listed Companies, etc., the Company has disclosed the names of, the quantity of shares held by and theshareholding information of the top 10 shareholders and top 10 shareholders of non-restricted shares one trading daybefore the publication of the resolution on share repurchase (namely April 4, 2019) and registered as at the date ofregistration of the equity of the general meeting (namely April 12, 2019). For the detail, refer to the Announcement on theInformation of Shareholding by the Top Ten Shareholders before Share Repurchase 2019-020 and the Announcement onthe Information of Shareholding by the Top Ten Shareholders before Share Repurchase 2019-022.
| General on Significant Events | Date of disclosure | Inquiry index of the provisional reports disclosed in the website. |
| The Announcement on the Completion of Granting the Restricted A-Shares according to the Incentive Plan (Phase I) (2019-009) | January 29, 2019 | http://www.cninfo.com.cn/ |
| Announcement on the Resolution of the 7th Session of the Ninth Board of Directors, 2019-015 | April 08, 2019 | http://www.cninfo.com.cn/ |
| Proposal for the Repurchase of the Company’s Partial Domestically Listed Foreign Shares (B Shares) 2019-017 | April 08, 2019 | http://www.cninfo.com.cn/ |
| Announcement on the Information of the Shareholding by the Top Ten Shareholders before the Repurchase of the Shares 2019-020 | April 12, 2019 | http://www.cninfo.com.cn/ |
| Announcement on the Information of the Shareholding by the Top Ten Shareholders before the Repurchase of the Shares 2019-022 | April 20, 2019 | http://www.cninfo.com.cn/ |
Progress of implementation of the stock repurchaseInapplicable
Progress of implementation of the reduction of the holding size of the shares repurchased by centralized biddingInapplicable
III. Commitments unfinished in implementation by the Company's actual controller, shareholders, related parties,acquirer and the Company, etc. in the reporting periodInapplicable
IV. Prediction of the Operation Performances from January to June, 2019Inapplicable
V. Portfolio investmentInapplicable
VI. Investment in derivativesInapplicable
VII. Registration Form of Activities of Reception for Investigation and Survey, Communications, Interviews, etc. inthe Reporting PeriodInapplicable
VIII. Outward guarantee against regulationsInapplicable
IX. Non-operational Occupancy of the Company’s Capital by the Controlling Shareholder and its Related PartiesInapplicable
Section 4. Financial Statements
I. Financial Statements1. Consolidated Balance SheetPrepared by FIYTA HOLDINGS LTD.
March 31, 2019
In CNY
| Items | March 31, 2019 | December 31, 2018 |
| Current assets: | ||
| Monetary capital | 147,427,728.61 | 164,828,059.97 |
| Settlement reserve | ||
| Inter-bank lending | ||
| Transactional financial assets | ||
| Financial assets which is measured based on the fair value and whose movement is counted to the current gain/loss |
| Derivative financial assets | ||
| Notes receivable and accounts receivable | 430,694,540.15 | 377,597,503.46 |
| Where: Notes receivable | 8,932,241.48 | 7,051,846.85 |
| Accounts receivable | 421,762,298.67 | 370,545,656.61 |
| Advance payments | 20,318,636.22 | 13,666,816.33 |
| Receivable premium | ||
| Reinsurance accounts receivable | ||
| Reserve for reinsurance contract receivable | ||
| Other receivables | 43,108,492.98 | 45,870,582.26 |
| Including: Interest receivable | ||
| Dividends receivable | ||
| Redemptory monetary capital for sale | ||
| Inventories | 1,760,074,886.64 | 1,782,306,301.70 |
| Contract assets | ||
| Held-for-sale assets | ||
| Non-current assets due within a year | ||
| Other current assets | 55,816,477.63 | 73,703,312.24 |
| Total current assets | 2,457,440,762.23 | 2,457,972,575.96 |
| Non-current assets: | ||
| Loan issuing and advance in cash | ||
| Equity investment | ||
| Available-for-sale financial assets | 85,000.00 | |
| Other equity investment | ||
| Held-to-due investments | ||
| Long term accounts receivable | ||
| Long-term equity investment | 44,881,063.15 | 44,881,063.15 |
| Investment in other equity instruments | 85,000.00 | |
| Other non-current financial assets | ||
| Investment real estate | 373,893,327.35 | 377,319,433.03 |
| Fixed assets | 418,286,761.85 | 425,649,562.85 |
| Construction-in-process | 12,318,038.44 | 12,041,126.00 |
| Productive biological asset | ||
| Oil and gas assets |
| Use right assets | ||
| Intangible assets | 42,974,917.02 | 43,545,477.61 |
| Development expenses | ||
| Goodwill | ||
| Long-term expenses to be apportioned | 135,527,467.48 | 128,572,545.15 |
| Deferred income tax asset | 89,120,451.46 | 100,675,706.09 |
| Other non-current assets | 5,458,879.75 | 8,949,160.42 |
| Total non-current assets | 1,122,545,906.50 | 1,141,719,074.30 |
| Total assets | 3,579,986,668.73 | 3,599,691,650.26 |
| Current liabilities: | ||
| Short term borrowings | 556,436,738.65 | 547,118,452.97 |
| Borrowings from central bank | ||
| Loans from other banks | ||
| Transactional financial liabilities | ||
| Financial liabilities measured based on the fair value and whose change was charged to the current gain and loss. | ||
| Derivative financial liabilities | ||
| Notes payable and accounts payable | 191,577,235.91 | 259,913,612.34 |
| Advance Receipts | 27,695,233.88 | 16,459,445.00 |
| Funds from selling out and repurchasing financial assets | ||
| Deposits taking and interbank placement | ||
| Acting trading securities | ||
| Income from securities underwriting on commission | ||
| Payroll payable to the employees | 34,559,516.76 | 69,779,037.83 |
| Taxes payable | 36,099,094.50 | 55,923,171.92 |
| Other payables | 93,250,973.34 | 71,819,930.30 |
| Including: interest payable | 722,318.78 | 772,351.26 |
| Dividends payable | ||
| Service charge and commission payable | ||
| Payable reinsurance | ||
| Contract liabilities |
| Held-for-sale liabilities | ||
| Non-current liabilities due within a year | 337,845.00 | 347,470.00 |
| Other current liabilities | ||
| Total current liabilities | 939,956,638.04 | 1,021,361,120.36 |
| Non-current liabilities: | ||
| Reserve for insurance contract | ||
| Long-term borrowings | 4,307,523.75 | 4,517,110.00 |
| Bonds payable | ||
| Including: preferred shares | ||
| Perpetual bond | ||
| Lease liabilities | ||
| Long-term accounts payable | ||
| Long term payroll payable to the employees | ||
| Predicted liabilities | ||
| Deferred income | 3,672,855.36 | 3,672,855.36 |
| Deferred income tax liability | ||
| Other non-current liabilities | ||
| Total non-current liabilities | 7,980,379.11 | 8,189,965.36 |
| Total liabilities | 947,937,017.15 | 1,029,551,085.72 |
| Owner’s equity: | ||
| Capital Stock | 442,968,881.00 | 438,744,881.00 |
| Other equity instruments | ||
| Including: preferred shares | ||
| Perpetual bond | ||
| Capital Reserve | 1,077,934,543.00 | 1,062,455,644.22 |
| Less: shares in stock | 18,585,600.00 | |
| Other comprehensive income | -9,009,290.73 | -5,442,139.78 |
| Special reserve | ||
| Surplus Reserve | 223,015,793.80 | 223,015,793.80 |
| Reserve against general risks | ||
| Retained earnings | 915,719,688.10 | 851,360,603.66 |
| Total owners’ equity attributable to the parent company | 2,632,044,015.17 | 2,570,134,782.90 |
| Minority shareholders’ equity | 5,636.41 | 5,781.64 |
| Total owner’s equity | 2,632,049,651.58 | 2,570,140,564.54 |
| Total liabilities and owners’ equity | 3,579,986,668.73 | 3,599,691,650.26 |
Legal representative: Huang Yongfeng Chief Financial Officer: Chen Zhuo Person in charge of the Accounting Department: Tian Hui
2. Balance Sheet (Parent Company)
In CNY
| Items | March 31, 2019 | December 31, 2018 |
| Current assets: | ||
| Monetary capital | 119,031,551.42 | 137,175,466.27 |
| Transactional financial assets | ||
| Financial assets which is measured based on the fair value and whose movement is counted to the current gain/loss | ||
| Derivative financial assets | ||
| Notes receivable and accounts receivable | 2,157,099.65 | 737,636.38 |
| Where: Notes receivable | ||
| Accounts receivable | 2,157,099.65 | 737,636.38 |
| Advance payments | ||
| Other receivables | 869,982,776.57 | 870,739,378.37 |
| Including: Interest receivable | ||
| Dividends receivable | ||
| Inventories | ||
| Contract assets | ||
| Held-for-sale assets | ||
| Non-current assets due within a year | ||
| Other current assets | 11,509,779.64 | 10,081,272.94 |
| Total current assets | 1,002,681,207.28 | 1,018,733,753.96 |
| Non-current assets: | ||
| Equity investment | ||
| Available-for-sale financial assets | 85,000.00 | |
| Other equity investment | ||
| Held-to-due investments | ||
| Long term accounts receivable | ||
| Long-term equity investment | 1,376,129,654.08 | 1,376,129,654.08 |
| Investment in other equity instruments | 85,000.00 |
| Other non-current financial assets | ||
| Investment real estate | 294,302,649.97 | 297,042,937.87 |
| Fixed assets | 293,892,269.63 | 297,517,472.81 |
| Construction-in-process | 12,318,038.44 | 12,041,126.00 |
| Productive biological asset | ||
| Oil and gas assets | ||
| Use right assets | ||
| Intangible assets | 34,192,362.94 | 35,337,052.82 |
| Development expenses | ||
| Goodwill | ||
| Long-term expenses to be apportioned | 9,004,556.36 | 4,500,638.97 |
| Deferred income tax asset | 952,857.33 | 952,857.33 |
| Other non-current assets | 2,507,857.08 | 4,493,971.35 |
| Total non-current assets | 2,023,385,245.83 | 2,028,100,711.23 |
| Total assets | 3,026,066,453.11 | 3,046,834,465.19 |
| Current liabilities: | ||
| Short term borrowings | 520,000,000.00 | 505,000,000.00 |
| Transactional financial liabilities | ||
| Financial liabilities measured based on the fair value and whose change was charged to the current gain and loss. | ||
| Derivative financial liabilities | ||
| Notes payable and accounts payable | 27,278,565.87 | 52,324,191.98 |
| Advance Receipts | 4,416,026.56 | 1,636,520.02 |
| Contract liabilities | ||
| Payroll payable to the employees | 6,871,767.07 | 11,589,634.34 |
| Taxes payable | 1,584,951.77 | 943,919.26 |
| Other payables | 44,199,285.94 | 57,997,397.28 |
| Including: interest payable | 671,244.45 | 685,419.80 |
| Dividends payable | ||
| Held-for-sale liabilities | ||
| Non-current liabilities due within a year | ||
| Other current liabilities | ||
| Total current liabilities | 604,350,597.21 | 629,491,662.88 |
| Non-current liabilities: |
| Long-term borrowings | ||
| Bonds payable | ||
| Including: preferred shares | ||
| Perpetual bond | ||
| Lease liabilities | ||
| Long-term accounts payable | ||
| Long term payroll payable to the employees | ||
| Predicted liabilities | ||
| Deferred income | 3,672,855.36 | 3,672,855.36 |
| Deferred income tax liability | ||
| Other non-current liabilities | ||
| Total non-current liabilities | 3,672,855.36 | 3,672,855.36 |
| Total liabilities | 608,023,452.57 | 633,164,518.24 |
| Owner’s equity: | ||
| Capital Stock | 442,968,881.00 | 438,744,881.00 |
| Other equity instruments | ||
| Including: preferred shares | ||
| Perpetual bond | ||
| Capital Reserve | 1,083,590,084.10 | 1,068,111,185.32 |
| Less: shares in stock | 18,585,600.00 | |
| Other comprehensive income | ||
| Special reserve | ||
| Surplus Reserve | 223,015,793.80 | 223,015,793.80 |
| Retained earnings | 687,053,841.64 | 683,798,086.83 |
| Total owner’s equity | 2,418,043,000.54 | 2,413,669,946.95 |
| Total liabilities and owners’ equity | 3,026,066,453.11 | 3,046,834,465.19 |
Legal representative: Huang Yongfeng Chief Financial Officer: Chen Zhuo Person in charge of the Accounting Department: Tian Hui
3. Consolidated Profit Statement
In CNY
| Items | Amount incurred in the reporting period | Amount incurred in the previous period |
| I. Turnover | 893,389,751.73 | 851,815,980.69 |
| Including: operating income | 893,389,751.73 | 851,815,980.69 |
| Interest income | ||
| Earned insurance premium | ||
| Service charge and commission income | ||
| II. Total operating costs | 814,959,559.48 | 776,711,015.00 |
| Including: Operating costs | 532,797,117.99 | 498,998,726.86 |
| Interest payment | ||
| Service charge and commission payment | ||
| Surrender Value | ||
| Compensation expenses, net | ||
| Provision of reserve for insurance contract, net | ||
| Payment of policy dividend | ||
| Reinsurance expenses | ||
| Taxes and surcharges | 7,967,226.11 | 8,182,646.44 |
| Sales costs | 199,499,630.53 | 203,295,481.43 |
| Administrative expenses | 55,752,416.90 | 48,438,558.44 |
| R & D expenditures | 9,953,936.60 | 10,545,751.63 |
| Financial expenses | 9,085,058.60 | 9,646,423.37 |
| Where: Interest cost | 6,209,488.02 | 7,036,409.01 |
| Interest income | 429,095.38 | 424,583.81 |
| Loss from impairment of assets | -2,396,573.17 | |
| Loss from impairment of credit | -95,827.25 | |
| Plus: Other income | 3,807,765.25 | 3,196,013.80 |
| Investment income (loss is stated with “-“) | ||
| Including: return on investment in associate and joint venture | ||
| Exchange income (loss stated with “-“) | ||
| Net exposure hedge income (loss stated with “-“) | ||
| Income from change of fair value (loss is stated with “-”) | ||
| Income from disposal of assets (loss is stated with “-“) | -50,642.04 | -20,793.32 |
| III. Operating Profit (loss is stated with “-“) | 82,187,315.46 | 78,280,186.17 |
| Plus: Non-operating income | 32,398.46 | 175,332.08 |
| Less: Non-operating expenses | 224,800.40 | 13,679.05 |
| IV. Total profit (total loss is stated with “-”) | 81,994,913.52 | 78,441,839.20 |
| Less: Income tax expense | 17,635,829.06 | 18,923,838.45 |
| V. Net Profit (net loss is stated with “-“) | 64,359,084.46 | 59,518,000.75 |
| (I) Classification based on operation sustainability | ||
| 1. Net Profit from sustainable operation (net loss is stated with “-”) | 64,359,084.46 | 59,518,000.75 |
| 2. Net Profit from termination of operation (net loss is stated with “-”) | ||
| (II) Classification according to the ownership | ||
| 1. Net profit attributable to the parent company’s owner | 64,359,084.46 | 59,518,000.75 |
| 2. Minority shareholders’ gain/loss | ||
| VI. Net of other comprehensive income after tax | -3,567,296.18 | -1,945,653.74 |
| Net of other comprehensive income after tax attributable to the parent company’s owner | -3,567,150.95 | -1,945,418.04 |
| (I) Other comprehensive income which cannot be re-classified into gain and loss | ||
| 1. Movement of the net liabilities and net assets re-measured for setting the beneficial plan | ||
| 2. Other comprehensive income which cannot be converted into gain and loss based on the equity method | ||
| 3. Movement of the fair value of the investment in other equity instruments | ||
| 4. Movement of the fair value of the Company’s own credit risk | ||
| 5. Others | ||
| (II) Other comprehensive income which shall be re-classified into gain and loss | -3,567,150.95 | -1,945,418.04 |
| 1. Other comprehensive income which can be converted into gain and loss based on the equity method | ||
| 2. Movement of the fair value of the investment in other debt instruments | ||
| 3. Gain/loss from change in the fair value of the financial assets available for sale | ||
| 4. Amount of the reclassified financial |
| assets counted to the other comprehensive income | ||
| 5. Gain/loss from which the held-to-maturity investment is re-classified as available-for-sale financial assets | ||
| 6. Provision for impairment of the credit of the other debt investment | ||
| 7. Reserve for cash flow hedge | ||
| 8. Conversion difference in foreign currency statements | -3,567,150.95 | -1,945,418.04 |
| 9. Others | ||
| Net amount of other comprehensive income after tax attributable to minority shareholders | -145.23 | -235.70 |
| VII. Total comprehensive income | 60,791,788.28 | 57,572,347.01 |
| Total comprehensive income attributable to the parent company’s owner | 60,791,933.51 | 57,572,582.71 |
| Total comprehensive income attributable to minority shareholders | -145.23 | -235.70 |
| VIII. Earnings per share: | ||
| (I) Basic earnings per share | 0.1467 | 0.1357 |
| (II) Diluted earnings per share | 0.1453 | 0.1357 |
Legal representative: Huang Yongfeng Chief Financial Officer: Chen Zhuo Person in charge of the Accounting Department: Tian Hui
4. Statement of Profit, Parent Company
In CNY
| Items | Amount incurred in the reporting period | Amount incurred in the previous period |
| I. Revenue | 32,237,822.48 | 28,011,891.43 |
| Less: Operating cost | 5,353,494.43 | 4,688,447.89 |
| Taxes and surcharges | 1,101,258.73 | 1,065,040.94 |
| Sales cost | ||
| Administrative expenses | 17,701,057.40 | 13,861,024.27 |
| R & D expenditures | 4,976,563.54 | 4,785,087.95 |
| Financial expenses | 1,785,619.37 | 1,569,784.34 |
| Where: Interest cost | 2,092,544.95 | 1,685,973.46 |
| Interest income | 358,260.51 | 189,051.76 |
| Loss from impairment of assets |
| Loss from impairment of credit | ||
| Plus: Other income | 2,126,000.00 | 598,000.00 |
| Investment income (loss is stated with “-“) | ||
| Including: return on investment in associate and joint venture | ||
| Net exposure hedge income (loss stated with “-“) | ||
| Income from change of fair value (loss is stated with “-”) | ||
| Income from disposal of assets (loss is stated with “-“) | -2,074.20 | -12,400.00 |
| II. Operating Profit (loss is stated with “-“) | 3,443,754.81 | 2,628,106.04 |
| Plus: Non-operating income | 12,000.00 | 2,880.00 |
| Less: Non-operating expenses | 200,000.00 | |
| III. Total profit (total loss is stated with “-“) | 3,255,754.81 | 2,630,986.04 |
| Less: Income tax expense | 153,818.42 | |
| IV. Net Profit (net loss is stated with “-“) | 3,255,754.81 | 2,477,167.62 |
| (I) Net Profit from sustainable operation (net loss is stated with “-”) | 3,255,754.81 | 2,477,167.62 |
| (II) Net Profit from termination of operation (net loss is stated with “-”) | ||
| V. Net of other comprehensive income after tax | ||
| (I) Other comprehensive income which cannot be re-classified into gain and loss | ||
| 1. Movement of the net liabilities and net assets re-measured for setting the beneficial plan | ||
| 2. Other comprehensive income which cannot be converted into gain and loss based on the equity method | ||
| 3. Movement of the fair value of the investment in other equity instruments | ||
| 4. Movement of the fair value of the Company’s own credit risk | ||
| 5. Others | ||
| (II) Other comprehensive income |
| which shall be re-classified into gain and loss | ||
| 1. Other comprehensive income which can be converted into gain and loss based on the equity method | ||
| 2. Movement of the fair value of the investment in other debt instruments | ||
| 3. Gain/loss from change in the fair value of the financial assets available for sale | ||
| 4. Amount of the reclassified financial assets counted to the other comprehensive income | ||
| 5. Gain/loss from which the held-to-maturity investment is re-classified as available-for-sale financial assets | ||
| 6. Provision for impairment of the credit of the other debt investment | ||
| 7. Reserve for cash flow hedge | ||
| 8. Conversion difference in foreign currency statements | ||
| 9. Others | ||
| VI. Total comprehensive income | 3,255,754.81 | 2,477,167.62 |
| VII. Earnings per share: | ||
| (I) Basic earnings per share | 0.0074 | 0.0056 |
| (II) Diluted earnings per share | 0.0073 | 0.0056 |
Legal representative: Huang Yongfeng Chief Financial Officer: Chen Zhuo Person in charge of the Accounting Department: Tian Hui
5. Consolidated Cash Flow Statement
In CNY
| Items | Amount incurred in the reporting period | Amount incurred in the previous period |
| I. Net cash flows arising from operating activities | ||
| Cash received from sales of goods and supply of labor service | 975,041,907.75 | 946,590,536.33 |
| Net increase of customers’ deposit |
| and due from banks | ||
| Net increase of borrowings from the central bank | ||
| Net increase of borrowings from other financial institutions | ||
| Cash received from the premium of the original insurance contract | ||
| Net cash received from the reinsurance business | ||
| Net increase of the reserve from policy holders and investment | ||
| Net increase from disposal of financial assets which is measured based on the fair value and whose movement is counted to the current gain/loss | ||
| Cash received from interest, service charge and commission | ||
| Net increase of loan from other banks | ||
| Net increase of fund from repurchase business | ||
| Net cash received from securities trading on commission | ||
| Rebated taxes received | 1,702,739.93 | 115,911.67 |
| Other operation activity related cash receipts | 20,886,425.52 | 13,670,199.06 |
| Subtotal of cash flow in from operating activity | 997,631,073.20 | 960,376,647.06 |
| Cash paid for purchase of goods and reception of labor services | 641,518,556.89 | 537,101,324.50 |
| Net increase of loans and advances to customers | ||
| Net increase of due from central bank and due from banks | ||
| Cash from payment for settlement of the original insurance contract | ||
| Net increase of the financial assets held for trading purpose | ||
| Net increase of the lending capital |
| Cash paid for interest, service charge and commission | ||
| Cash for payment of policy dividend | ||
| Cash paid to and for staff | 180,290,878.29 | 176,471,053.74 |
| Taxes paid | 62,198,665.36 | 76,129,709.10 |
| Other business activity related cash payments | 102,892,584.19 | 103,042,357.86 |
| Subtotal of cash flow out from operating activity | 986,900,684.73 | 892,744,445.20 |
| Net cash flow arising from operating activities | 10,730,388.47 | 67,632,201.86 |
| II. Net cash flows arising from investment activities | ||
| Cash received from recovery of investment | ||
| Cash received from investment income | ||
| Net cash from disposal of fixed assets, intangible assets and recovery of other long term assets | 36,918.89 | 3,582.90 |
| Net cash received from disposal of subsidiaries and other operating units | ||
| Other investment-related cash receipts | ||
| Subtotal of cash flow in from investment activity | 36,918.89 | 3,582.90 |
| Cash paid for purchase/construction of fixed assets, Intangible assets and other long term assets | 50,766,649.74 | 20,901,254.20 |
| Cash paid for investment | ||
| Net increase of the pledged loan | ||
| Net cash paid for acquisition of subsidiaries and other operation units | ||
| Other investment-related cash payments | ||
| Subtotal of cash flow out from investment activity | 50,766,649.74 | 20,901,254.20 |
| Net cash flow arising from investment | -50,729,730.85 | -20,897,671.30 |
| activities | ||
| III. Net cash flow arising from financing activities | ||
| Cash received from absorbing investment | 18,585,600.00 | |
| Incl.: Cash received from the subsidiaries’ absorption of minority shareholders’ investment | ||
| Cash received from loans | 210,000,000.00 | 160,000,000.00 |
| Cash received from bond issuing | ||
| Other fund-raising related cash receipts | ||
| Subtotal of cash flow in from fund raising activity | 228,585,600.00 | 160,000,000.00 |
| Cash paid for debt repayment | 199,632,048.06 | 88,998,550.00 |
| Cash paid for dividend/profit distribution or repayment of interest | 6,222,107.97 | 7,556,182.15 |
| Including: Dividend and profit paid by the subsidiaries to minority shareholders | ||
| Cash paid for other financing activities | ||
| Sub-total cash flow paid for financing activities | 205,854,156.03 | 96,554,732.15 |
| Net cash flows arising from financing activities | 22,731,443.97 | 63,445,267.85 |
| IV. Change of exchange rate influencing the cash and cash equivalent | -132,432.95 | -352,953.76 |
| V. Net increase of cash and cash equivalents | -17,400,331.36 | 109,826,844.65 |
| Plus: Opening balance of cash and cash equivalents | 162,623,059.97 | 184,947,891.32 |
| VI. Ending balance of cash and cash equivalents | 145,222,728.61 | 294,774,735.97 |
Legal representative: Huang Yongfeng Chief Financial Officer: Chen Zhuo Person in charge of the Accounting Department: Tian Hui
6. Cash Flow Statement, Parent Company
In CNY
| Items | Amount incurred in the reporting period | Amount incurred in the previous period |
| I. Net cash flows arising from operating activities | ||
| Cash received from sales of goods and supply of labor service | 34,539,681.84 | 26,501,235.69 |
| Rebated taxes received | ||
| Other operation activity related cash receipts | 875,652,514.96 | 378,902,629.82 |
| Subtotal of cash flow in from operating activity | 910,192,196.80 | 405,403,865.51 |
| Cash paid for purchase of goods and reception of labor services | ||
| Cash paid to and for staff | 23,140,836.36 | 20,221,481.43 |
| Taxes paid | 2,725,897.25 | 2,903,990.84 |
| Other business activity related cash payments | 900,850,128.56 | 356,309,026.90 |
| Subtotal of cash flow out from operating activity | 926,716,862.17 | 379,434,499.17 |
| Net cash flow arising from operating activities | -16,524,665.37 | 25,969,366.34 |
| II. Net cash flow arising from investment activities | ||
| Cash received from recovery of investment | ||
| Cash received from investment income | ||
| Net cash from disposal of fixed assets, intangible assets and recovery of other long term assets | 23,000.00 | |
| Net cash received from disposal of subsidiaries and other operating units | ||
| Other investment-related cash receipts | ||
| Subtotal of cash flow in from investment activity | 23,000.00 | |
| Cash paid for purchase/construction of fixed assets, Intangible assets and other long term assets | 29,300,461.40 | 6,076,401.50 |
| Cash paid for investment |
| Net cash paid for acquisition of subsidiaries and other operation units | ||
| Other investment- related cash payments | ||
| Subtotal of cash flow out from investment activity | 29,300,461.40 | 6,076,401.50 |
| Net cash flow arising from investment activities | -29,277,461.40 | -6,076,401.50 |
| III. Net cash flow arising from financing activities | ||
| Cash received from absorbing investment | 18,585,600.00 | |
| Cash received from loans | 210,000,000.00 | 160,000,000.00 |
| Cash received from bond issuing | ||
| Other fund-raising related cash receipts | ||
| Subtotal of cash flow in from fund raising activity | 228,585,600.00 | 160,000,000.00 |
| Cash paid for debt repayment | 195,000,000.00 | 80,000,000.00 |
| Cash paid for dividend/profit distribution or repayment of interest | 5,887,220.50 | 7,093,992.11 |
| Cash paid for other financing activities | ||
| Sub-total cash flow paid for financing activities | 200,887,220.50 | 87,093,992.11 |
| Net cash flows arising from financing activities | 27,698,379.50 | 72,906,007.89 |
| IV. Change of exchange rate influencing the cash and cash equivalent | -40,167.58 | -58,497.86 |
| V. Net increase of cash and cash equivalents | -18,143,914.85 | 92,740,474.87 |
| Plus: Opening balance of cash and cash equivalents | 134,970,466.27 | 128,958,944.43 |
| VI. Ending balance of cash and cash equivalents | 116,826,551.42 | 221,699,419.30 |
Legal representative: Huang Yongfeng Chief Financial Officer: Chen Zhuo Person in charge of the Accounting Department: Tian Hui
II. Note to the Adjustment of the Financial Statements1. Adjustment of the relevant financial statements at the current year beginning according to the new standards for
financial instruments, the new standards for revenues and the new standards for lease initially implementedConsolidated Balance Sheet
In CNY
| Items | December 31, 2018 | January 01, 2019 | The amount involved in the adjustment |
| Current assets: | |||
| Monetary capital | 164,828,059.97 | 164,828,059.97 | |
| Notes receivable and accounts receivable | 377,597,503.46 | 377,597,503.46 | |
| Where: Notes receivable | 7,051,846.85 | 7,051,846.85 | |
| Accounts receivable | 370,545,656.61 | 370,545,656.61 | |
| Advance payments | 13,666,816.33 | 13,666,816.33 | |
| Other receivables | 45,870,582.26 | 45,870,582.26 | |
| Inventories | 1,782,306,301.70 | 1,782,306,301.70 | |
| Other current assets | 73,703,312.24 | 73,703,312.24 | |
| Total current assets | 2,457,972,575.96 | 2,457,972,575.96 | |
| Non-current assets: | |||
| Available-for-sale financial assets | 85,000.00 | Inapplicable | -85,000.00 |
| Long-term equity investment | 44,881,063.15 | 44,881,063.15 | |
| Investment in other equity instruments | Inapplicable | 85,000.00 | 85,000.00 |
| Investment real estate | 377,319,433.03 | 377,319,433.03 | |
| Fixed assets | 425,649,562.85 | 425,649,562.85 | |
| Construction-in-process | 12,041,126.00 | 12,041,126.00 | |
| Intangible assets | 43,545,477.61 | 43,545,477.61 | |
| Long-term expenses to be apportioned | 128,572,545.15 | 128,572,545.15 | |
| Deferred income tax asset | 100,675,706.09 | 100,675,706.09 | |
| Other non-current assets | 8,949,160.42 | 8,949,160.42 | |
| Total non-current assets | 1,141,719,074.30 | 1,141,719,074.30 | |
| Total assets | 3,599,691,650.26 | 3,599,691,650.26 | |
| Current liabilities: |
| Short term borrowings | 547,118,452.97 | 547,118,452.97 | |
| Notes payable and accounts payable | 259,913,612.34 | 259,913,612.34 | |
| Advance Receipts | 16,459,445.00 | 16,459,445.00 | |
| Payroll payable to the employees | 69,779,037.83 | 69,779,037.83 | |
| Taxes payable | 55,923,171.92 | 55,923,171.92 | |
| Other payables | 71,819,930.30 | 71,819,930.30 | |
| Including: interest payable | 772,351.26 | 772,351.26 | |
| Non-current liabilities due within a year | 347,470.00 | 347,470.00 | |
| Total current liabilities | 1,021,361,120.36 | 1,021,361,120.36 | |
| Non-current liabilities: | |||
| Long-term borrowings | 4,517,110.00 | 4,517,110.00 | |
| Deferred income | 3,672,855.36 | 3,672,855.36 | |
| Total non-current liabilities | 8,189,965.36 | 8,189,965.36 | |
| Total liabilities | 1,029,551,085.72 | 1,029,551,085.72 | |
| Owner’s equity: | |||
| Capital Stock | 438,744,881.00 | 438,744,881.00 | |
| Capital Reserve | 1,062,455,644.22 | 1,062,455,644.22 | |
| Other comprehensive income | -5,442,139.78 | -5,442,139.78 | |
| Surplus Reserve | 223,015,793.80 | 223,015,793.80 | |
| Retained earnings | 851,360,603.66 | 851,360,603.66 | |
| Total owners’ equity attributable to the parent company | 2,570,134,782.90 | 2,570,134,782.90 | |
| Minority shareholders’ equity | 5,781.64 | 5,781.64 | |
| Total owner’s equity | 2,570,140,564.54 | 2,570,140,564.54 | |
| Total liabilities and owners’ equity | 3,599,691,650.26 | 3,599,691,650.26 |
Balance Sheet, Parent Company
In CNY
| Items | December 31, 2018 | January 01, 2019 | The amount involved in the adjustment |
| Current assets: | |||
| Monetary capital | 137,175,466.27 | 137,175,466.27 | |
| Notes receivable and accounts receivable | 737,636.38 | 737,636.38 | |
| Accounts receivable | 737,636.38 | 737,636.38 | |
| Other receivables | 870,739,378.37 | 870,739,378.37 | |
| Other current assets | 10,081,272.94 | 10,081,272.94 | |
| Total current assets | 1,018,733,753.96 | 1,018,733,753.96 | |
| Non-current assets: | |||
| Available-for-sale financial assets | 85,000.00 | Inapplicable | |
| Long-term equity investment | 1,376,129,654.08 | 1,376,129,654.08 | |
| Investment in other equity instruments | Inapplicable | 85,000.00 | |
| Investment real estate | 297,042,937.87 | 297,042,937.87 | |
| Fixed assets | 297,517,472.81 | 297,517,472.81 | |
| Construction-in-process | 12,041,126.00 | 12,041,126.00 | |
| Intangible assets | 35,337,052.82 | 35,337,052.82 | |
| Long-term expenses to be apportioned | 4,500,638.97 | 4,500,638.97 | |
| Deferred income tax asset | 952,857.33 | 952,857.33 | |
| Other non-current assets | 4,493,971.35 | 4,493,971.35 | |
| Total non-current assets | 2,028,100,711.23 | 2,028,100,711.23 | |
| Total assets | 3,046,834,465.19 | 3,046,834,465.19 | |
| Current liabilities: | |||
| Short term borrowings | 505,000,000.00 | 505,000,000.00 | |
| Notes payable and accounts payable | 52,324,191.98 | 52,324,191.98 | |
| Advance Receipts | 1,636,520.02 | 1,636,520.02 | |
| Payroll payable to the employees | 11,589,634.34 | 11,589,634.34 | |
| Taxes payable | 943,919.26 | 943,919.26 | |
| Other payables | 57,997,397.28 | 57,997,397.28 | |
| Including: interest | 685,419.80 | 685,419.80 |
| payable | |||
| Total current liabilities | 629,491,662.88 | 629,491,662.88 | |
| Non-current liabilities: | |||
| Deferred income | 3,672,855.36 | 3,672,855.36 | |
| Total non-current liabilities | 3,672,855.36 | 3,672,855.36 | |
| Total liabilities | 633,164,518.24 | 633,164,518.24 | |
| Owner’s equity: | |||
| Capital Stock | 438,744,881.00 | 438,744,881.00 | |
| Capital Reserve | 1,068,111,185.32 | 1,068,111,185.32 | |
| Surplus Reserve | 223,015,793.80 | 223,015,793.80 | |
| Retained earnings | 683,798,086.83 | 683,798,086.83 | |
| Total owner’s equity | 2,413,669,946.95 | 2,413,669,946.95 | |
| Total liabilities and owners’ equity | 3,046,834,465.19 | 3,046,834,465.19 |
2. Note to the retroactive adjustment of the previous comparative data according to the newstandards for financial instruments and the new standards for lease initially implemented
Inapplicable
III. Auditor’s ReportHas the first quarterly report been auditedNo