Hainan Jingliang Holdings Co., Ltd. Third Quarter Report 2019
HAINAN JINGLIANG HOLDINGS CO., LTD.
THIRD QUARTER REPORT 2019
October 2019
Hainan Jingliang Holdings Co., Ltd. Third Quarter Report 2019
Part I Important NotesThe Board of Directors (or the “Board”), the Supervisory Committee as well as the directors,supervisors and senior management of Hainan Jingliang Holdings Co., Ltd. (together with itsconsolidated subsidiaries, the “Company”, except where the context otherwise requires)hereby guarantee the factuality, accuracy and completeness of the contents of this Report andits summary, and shall be jointly and severally liable for any misrepresentations, misleadingstatements or material omissions therein.All the Company’s directors have attended the Board meeting for the review of this Reportand its summary.Li Shaoling, the Company’s legal representative, Guan Ying, the Company’s head forfinancial affairs, and Liu Quanli, head of the Company’s financial department (equivalent tofinancial manager) hereby guarantee that the financial statements carried in this Report arefactual, accurate and complete.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.
Hainan Jingliang Holdings Co., Ltd. Third Quarter Report 2019
Part II Key Corporate Information
I Key Consolidated Financial InformationIndicate by tick mark whether there is any retrospectively restated datum in the table below.
□ Yes √ No
30 September 2019 | 31 December 2018 | Change (%) | ||||
Total assets (RMB) | 5,132,178,541.12 | 4,917,148,996.28 | 4.37% | |||
Equity attributable to the listed company’s shareholders (RMB) | 2,358,063,029.90 | 2,272,469,925.43 | 3.77% | |||
Q3 2019 | YoY change (%) | Q1-Q3 2019 | YoY change (%) | |||
Operating revenue (RMB) | 1,824,886,529.92 | -3.94% | 5,108,164,255.31 | -7.79% | ||
Net profit attributable to the listed company’s shareholders (RMB) | 33,840,967.80 | -20.08% | 85,351,872.21 | -16.54% | ||
Net profit attributable to the listed company’s shareholders before exceptional items (RMB) | 28,276,307.45 | -34.00% | 69,470,781.04 | -30.00% | ||
Net cash generated from/used in operating activities (RMB) | -- | -- | 446,745,732.08 | 6.47% | ||
Basic earnings per share (RMB/share) | 0.05 | -16.67% | 0.12 | -20.00% | ||
Diluted earnings per share (RMB/share) | 0.05 | -16.67% | 0.12 | -20.00% | ||
Weighted average return on equity (%) | 1.48% | -26.00% | 3.69% | -22.00% |
Exceptional gains and losses:
√ Applicable □ Not applicable
Unit: RMB
Item | Q1-Q3 2019 | Note |
Gain or loss on disposal of non-current assets (inclusive of impairment allowance write-offs) | 11,265,753.65 | |
Government subsidies recognized in the current period, except for those acquired in the ordinary course of business or granted at certain quotas or amounts according to the government’s unified standards | 3,058,788.87 | |
Gains/Losses on fair value changes of trading financial assets and liabilities & investment income from disposal of trading financial assets and liabilities as well as financial assets available for sale (exclusive of | 7,948,330.08 |
Hainan Jingliang Holdings Co., Ltd. Third Quarter Report 2019
effective hedges related to normal business operations of the Company) | ||
Non-operating income and expense other than above | 889,800.28 | |
Project confirmed with the definition of non-recurring gains and losses and losses | -122,538.24 | |
Less: Income tax effects | 5,760,033.66 | |
Non-controlling interests effects (net of tax) | 1,399,009.81 | |
Total | 15,881,091.17 | -- |
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 thePublic—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 2019
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 | 38,631 | 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 | |||||||
BEIJING GRAIN GROUP CO., LTD. | State-owned legal person | 42.06% | 288,439,561 | 164,877,598 | ||||
BEIJING STATE-OWNED CAPITAL OPERATION AND MANAGEMENT CENTER | State-owned legal person | 7.07% | 48,510,460 | 48,510,460 | ||||
CHINA DEVELOPMENT BANK CAPITAL CO., LTD. | State-owned legal person | 2.97% | 20,393,051 | 0 | ||||
LI SHERYN ZHAN MING | Foreign natural person | 2.54% | 17,425,400 | 0 | ||||
GOLD BUFFALO RUNYING (TIANJIN) EQUITY INVESTMENT FUND MANAGEMENT CO., | Other | 2.20% | 15,116,472 | 0 |
Hainan Jingliang Holdings Co., Ltd. Third Quarter Report 2019
LTD.—GOLD BUFFALO RUNYING (TIANJIN) EQUITY INVESTMENT FUND (L.P.) | ||||||||
MEI JIANYING | Domestic natural person | 0.38% | 2,604,203 | 0 | ||||
HU TIANGAO | Domestic natural person | 0.34% | 2,356,052 | 0 | ||||
ZHANG XIAOXIA | Domestic natural person | 0.28% | 1,949,250 | 0 | ||||
WANG XIAOXING | Domestic natural person | 0.25% | 1,742,700 | 0 | ||||
LIN LI | Domestic natural person | 0.24% | 1,669,600 | 0 | ||||
Top 10 unrestricted shareholders | ||||||||
Name of shareholder | Unrestricted shares | Shares by type | ||||||
Type | Shares | |||||||
BEIJING GRAIN GROUP CO., LTD. | 123,561,963 | RMB-denominated ordinary stock | 123,561,963 | |||||
CHINA DEVELOPMENT BANK CAPITAL CO., LTD. | 20,393,051 | RMB-denominated ordinary stock | 20,393,051 | |||||
LI SHERYN ZHAN MING | 17,425,400 | Domestically listed foreign stock | 17,425,400 | |||||
GOLD BUFFALO RUNYING (TIANJIN) EQUITY INVESTMENT FUND MANAGEMENT CO., LTD.—GOLD BUFFALO RUNYING (TIANJIN) EQUITY INVESTMENT FUND (L.P.) | 15,116,472 | RMB-denominated ordinary stock | 15,116,472 | |||||
MEI JIANYING | 2,604,203 | RMB-denominated ordinary stock | 2,604,203 | |||||
HU TIANGAO | 2,356,052 | RMB-denominated ordinary stock | 2,356,052 | |||||
ZHANG XIAOXIA | 1,949,250 | Domestically listed foreign stock | 1,949,250 | |||||
WANG XIAOXING | 1,742,700 | RMB-denominated ordinary stock | 1,742,700 | |||||
LIN LI | 1,669,600 | RMB-denominated ordinary stock | 1,669,600 | |||||
CHEN OUQIN | 1,652,679 | RMB-denominate | 1,652,679 |
Hainan Jingliang Holdings Co., Ltd. Third Quarter Report 2019
d ordinary stock | |||
Related or acting-in-concert parties among shareholders above | Beijing State-Owned Capital Operation And Management Center owns 100% of Beijing Grain Group Co., Ltd., and Beijing Grain Group Co., Ltd. is a shareholder of the Company (a 42.06% holding). Apart from that, the Company does not know whether there are any other related parties or acting-in-concert parties among the top 10 shareholders. | ||
Top 10 ordinary shareholders involved in securities margin trading (if any) | 1. Shareholder Wang Xiaoxing holds 1,742,700 shares in the Company through his account of collateral securities for margin trading in Soochow Securities Co., Ltd. 2. Shareholder Hu Tiangao holds 338,000 shares in the Company through his account of collateral securities for margin trading in Zheshang Securities Co., Ltd. and 2,018,052 shares in the Company through his common account. |
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 EventsI Changes in Selected Consolidated Financial Statement Line Items and Explanation of why
√ Applicable □ Not applicable
1. The decrease of monetary capital primarily driven by the repayment of bank borrowings and purchase ofincome receipts regarding cash management of raised funds during the Reporting Period.
2. The increase of prepayments primarily driven by the increase of prepayments to suppliers arising from increaseof procurement out of necessity of production and operation during the Reporting Period.
3. The increase of other receivables primarily driven because the charge of warehouse service for Q3 2019 has notbeen received yet as at 30 September 2019.
4. The increase of other current assets primarily because the purchase of income receipts regarding cashmanagement of raised funds during the Reporting Period has not expired yet as at 30 September 2019.
5. The decrease of construction in progress primarily driven by the transfer of some construction in progress intofixed assets due to completion during the Reporting Period.
6. The increase of other non-current assets primarily driven by the increase of fixed time deposits of more thanone year during the Reporting Period.
7. The increase of notes payable and accounts payable primarily driven by the increase of debts to suppliersarising from increase of procurement out of necessity of production and operation.
8. The decrease of payroll payable primarily driven by the payment in the Reporting Period of the 2018 annualperformance pay that had been set aside in 2018.
9. The increase of asset disposal income primarily driven by the net income from demolition of some courtyardwalls of the Company located at Luhe, Tongzhou District, Beijing for the eastern expansion of Guangqu Road in2019.
10. The increase of net cash generated from financing activities primarily driven by bank loan repayment in 2019out of necessity of production and operation plans.
11. The decrease of net profit attributable to the listed company’s shareholders before exceptional items isprimarily driven by the negative effects on the Sino-US trade friction and the increase of the raw material cost andothers.
II Progress, Influence and Solutions Associated with Significant Events
√ Applicable □ Not applicable
Overview of significant events | Disclosure date | Announcement index |
The Company and its wholly-owned subsidiary Beijing Jingliang Food Co., Ltd. intend to purchase 25.1149% of equity interests in Zhejiang Xiaowangzi Food Share Co, Ltd. collectively held by six natural persons via cash payment and share offering. The six natural persons are Wang Yuecheng, Qiu Xiaobin, Hong Muqiang, Zhu Yanjun, Yao Zishan and Shuai Yiwu. The Company held the board meeting on 19 July 2019, on which the Proposal on Plan of Asset Purchase via Cash Payment and Share Offering by Hainan Jingliang Holdings Co., Ltd. and its Summary and proposals in relation to this transaction were reviewed and approved. | 13 July 2019 | Cninfo: Announcement of Hainan Jingliang Holdings Co., Ltd. on Suspension of Trading of the Company’s Stocks for Plan of Asset Purchase via Cash Payment and Share Offering (2019-045) |
22 July 2019 | Cninfo: Indicative Announcement of Hainan Jingliang Holdings Co., Ltd. on Plan of Asset Purchase via Cash Payment and Share Offering and Related-party Transactions and Resumption of Trading of the Company’s Stocks (2019-046) | |
21 August 2019 | Cninfo: Announcement of Hainan Jingliang Holdings Co., Ltd. on Progress of Plan of Asset Purchase via Cash Payment and Share Offering and Related-party Transactions after Disclosure thereof (2019-056) | |
21 September 2019 | Cninfo: Announcement of Hainan Jingliang Holdings Co., Ltd. on Progress of Plan of Asset Purchase via Cash Payment and Share Offering and Related-party Transactions after Disclosure thereof (2019-065) | |
The 8th Board of Directors and the 8th Supervisory Committee expired in September 2019. Then, the Company held the 3rd Extraordinary General Meeting of 2019 on 23 September 2019 and approved all proposals in relation to the general election of the Board of Directors and the Supervisory Committee via cumulative voting and held the 1st Meeting of the 9th Board of Directors and the 1st Meeting of the 9th Supervisory Committee on 26 September 2019, on which the Chairman of the Board, the Chairman of the Supervisory Committee and members of all special committees were elected and the senior management were engaged. | 24 September 2019 | Cninfo: Announcement of Hainan Jingliang Holdings Co., Ltd. on Changing Directors and Supervisors (2019-067) |
27 September 2019 | Cninfo: Announcement of Hainan Jingliang Holdings Co., Ltd. on Resolutions of the 1st Meeting of the 9th Board of Directors (2019-068) | |
27 September 2019 | Cninfo: Announcement of Hainan Jingliang Holdings Co., Ltd. on Resolutions of the 1st Meeting of the 9th Supervisory Committee (2019-069) |
Progress on any share repurchases:
□ Applicable √ Not applicable
Progress on reducing the repurchased shares by means of centralized bidding:
□ Applicable √ Not applicable
III Commitments that the Company’s Actual Controller, Shareholders, Related Parties andAcquirers, 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 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 |
Other | 204001 | GC001 | Cost method | 20,647,200,000.00 | 20,647,200,000.00 | 2,070,748.08 | Other | Self-raised | |||||
Other | 204004 | GC004 | Cost method | 300,000,000.00 | 300,000,000.00 | 74,650.83 | Other | Self-raised | |||||
Other | 204007 | GC007 | Cost method | 120,200,000.00 | 120,200,000.00 | 119,991.46 | Other | Self-raised | |||||
Other | 204014 | GC014 | Cost method | 100,300,000.00 | 100,300,000.00 | 98,005.90 | Other | Self-raised | |||||
Total | 0.00 | -- | 0.00 | 0.00 | 0.00 | 21,167,700,000.00 | 21,167,700,000.00 | 2,363,396.27 | 0.00 | -- | -- | ||
Disclosure date of announcement on Board’s consent for securities investments | 21 February 2019 | ||||||||||||
Disclosure date of announcement on general | N/A |
V Wealth Management Entrustment
√ Applicable □ Not applicable
Unit: RMB’0,000 (in RMB ten thousand yuan)
meeting’s consent forsecurities investments (ifany)Type of wealthmanagement
Type of wealth management | Funding source | Principal | Outstanding amount before maturity | Overdue amount |
Wealth management product purchased from securities trader | Idle raised | 38,700 | 38,700 | 0 |
Wealth management product purchased from bank | Self-funded | 9,030 | 3,430 | 0 |
Total | 47,730 | 42,130 | 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
Unit: RMB’0,000 (in RMB ten thousand yuan)
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 earnings (if any) | Actual gain/loss in Reporting Period | Collection/payment of gain/loss in Reporting Period | Impairment allowance (if any) | Through prescribed procedure or not | Any plan for further entrustment | Overview and index to more information (if any) |
CITIC SECURITIES | Securities company | Certification of trust receipt | 38,700 | Idle raised capital | 4 July 2019 | 14 October 2019 | Agreement of contract | Pay the principal and earnings at the maturi | 2.70% | 0 | Unredeemed | Yes | Yes | www.cninfo.com.cn: 2019-044 |
ty date of investment | ||||||||||||||
Total | 38,700 | -- | -- | -- | -- | -- | -- | 0 | 0 | -- | -- | -- | -- |
Wealth management entrustments with possible impairments including an expectedly unrecoverable principal:
□ Applicable √ Not applicable
VI Investments in Derivative Financial Instruments
√ Applicable □ Not applicable
Unit: RMB’0,000 (in RMB ten thousand yuan)
Type of derivative | Start date | End date | Ending investment | Ending investment as % of the Company’s ending net assets | Actual gain/loss in Reporting Period |
Agricultural product future contract | 1 January 2019 | 30 September 2019 | 7,532.71 | 3.19% | -4,955.39 |
Foreign exchange forwards | 1 January 2019 | 30 September 2019 | 23 | 0.01% | 376.1 |
Total | -- | -- | 7,555.71 | 3.20% | -4,579.29 |
Funding source | Self-funded | ||||
Legal matters involved (if applicable) | N/A | ||||
Disclosure date of board announcement approving derivative investment (if any) | 21 February 2019 | ||||
30 March 2019 | |||||
Disclosure date of general meeting announcement approving derivative investment (if any) | 9 March 2019 | ||||
20 April 2019 | |||||
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.) | The Company’s conduction of hedging business is not aimed at speculation, but mainly to effectively avoid the impact of raw material price fluctuation on the Company. However, there will be certain risks: 1. Price fluctuation risk: price fluctuation risk may be generated when the futures market changes greatly, resulting in transaction losses; 2. Capital risk: capital risk may be correspondingly brought because the futures trading adopts margin and marking-to-market system; 3. Internal control risk: there may be risks due to imperfect internal control system for the high expertise and complexity of futures trading; 4. Technical risk: there may be technical risks due to incomplete computer systems. The Company adopts following risk control measures: 1. Matching the hedging business with the Company’s production and operation so as to maximally reduce the price fluctuation risk; 2. The Company will reasonably dispatch its own funds for hedging business, |
strictly control the hedging fund scale and reasonably plan and use margins; 3. Management System of Commodity Futures Trading is formulated at the Company and subsidiaries levels respectively based on actual situation of the Company and pursuant to governing stipulations of Guidelines for Standard Operation of Companies Listed in Shenzhen Stock Exchange which have made clearly stipulations about the amount, variety scope, approval authority, internal approval procedures, responsible departments and persons, information isolation measures, internal risk report and related solution process, information disclosure, etc. regarding hedging business. The Company will strictly control all sectors in accordance with the management system formulated; 4. Establishing qualified systems for transaction, communication and information services so as to guarantee the normal operation of the transaction system and smooth proceeding of transactions. When a wrong order occurs, corresponding measures should be timely taken to reduce losses. | |
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) | The value of the Company’s future contracts changed according to the contract prices declared by the future exchange, which were broadly representative. And the fair value of the Company’s future contracts was executed in strict compliance with the future exchange’s settlement methods. |
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 relevant decision-making procedures for the Company and its majority-owned subsidiaries to conduct foreign exchange derivatives trading business are in compliance with relevant national laws, regulations and the governing provisions of the Articles of Association after verification. Based on normal production and operation, the Company uses foreign exchange derivatives instruments to reduce exchange rate risks and finance costs, and control business risks. There is no harm to the interests of the Company and all other shareholders, especially minority shareholders. It is agreed that the Company and its majority-owned subsidiaries will conduct foreign exchange derivative trading business within the consideration amount, and submit to the general meeting for deliberation. |
VII 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.
VIII Irregularities in Provision of Guarantees for External Parties
□ Applicable √ Not applicable
No such cases in the Reporting Period.IX Occupation of the Company’s Capital by Controlling Shareholder or Its Related Partiesfor Non-Operating Purposes
□ Applicable √ Not applicable
No such cases in the Reporting Period.
Part IV Financial StatementsI Financial Statements
1. Consolidated Balance Sheet
Prepared by Hainan Jingliang Holdings Co., Ltd.
30 September 2019
Unit: RMB
Item | 30 September 2019 | 31 December 2018 |
Current assets: | ||
Monetary capital | 495,666,232.11 | 924,870,016.78 |
Settlement reserve | ||
Interbank loans granted | ||
Trading financial assets | ||
Financial assets at fair value through profit or loss | ||
Derivative financial assets | 49,872,120.50 | 71,260,414.60 |
Notes receivable | ||
Accounts receivable | 95,540,151.58 | 97,775,710.11 |
Accounts receivable financing | ||
Prepayments | 430,689,409.61 | 120,181,442.89 |
Premiums receivable | ||
Reinsurance receivables | ||
Receivable reinsurance contract reserve | ||
Other receivables | 65,460,014.32 | 18,256,513.93 |
Including: Interests receivable | 483,694.45 | 2,400,877.51 |
Dividends receivable | ||
Financial assets purchased under resale agreements | ||
Inventories | 992,709,551.35 | 1,224,186,963.07 |
Contractual assets | ||
Assets classified as held for sale | ||
Current portion of non-current assets |
Other current assets | 836,609,741.86 | 288,821,816.63 |
Total current assets | 2,966,547,221.33 | 2,745,352,878.01 |
Non-current assets: | ||
Loans and advances to customers | ||
Investments in debt obligations | ||
Available-for-sale financial assets | 20,000,000.00 | |
Investments in other debt obligations | ||
Held-to-maturity investments | ||
Long-term receivables | ||
Long-term equity investments | 187,325,274.16 | 182,827,226.11 |
Investments in other equity instruments | 20,000,000.00 | |
Other non-current financial assets | ||
Investment property | 32,184,788.51 | 33,395,101.68 |
Fixed assets | 1,241,030,763.35 | 1,271,803,080.56 |
Construction in progress | 27,249,683.31 | 37,369,757.78 |
Productive living assets | ||
Oil and gas assets | ||
Right-of-use assets | ||
Intangible assets | 373,516,890.08 | 383,382,527.68 |
R&D expense | ||
Goodwill | 191,394,422.51 | 191,394,422.51 |
Long-term prepaid expense | 23,950,504.42 | 34,671,018.22 |
Deferred income tax assets | 13,978,993.45 | 15,330,980.14 |
Other non-current assets | 55,000,000.00 | 1,622,003.59 |
Total non-current assets | 2,165,631,319.79 | 2,171,796,118.27 |
Total assets | 5,132,178,541.12 | 4,917,148,996.28 |
Current liabilities: | ||
Short-term borrowings | 1,139,402,578.70 | 1,437,715,080.91 |
Borrowings from central bank | ||
Interbank loans obtained | ||
Trading financial liabilities | ||
Financial liabilities at fair value through profit or loss | ||
Derivative financial liabilities |
Notes payable | ||
Accounts payable | 336,251,875.67 | 140,564,713.11 |
Advances from customers | 324,648,928.69 | 145,317,064.18 |
Contractual liabilities | ||
Financial assets sold under repurchase agreements | ||
Customer deposits and interbank deposits | ||
Payables for acting trading of securities | ||
Payables for underwriting of securities | ||
Payroll payable | 11,003,826.95 | 31,494,568.05 |
Taxes payable | 38,933,903.00 | 35,783,819.84 |
Other payables | 165,377,948.13 | 111,288,708.99 |
Including: Interest payable | 25,010,702.02 | 26,972,826.90 |
Dividends payable | 11,013,302.88 | 11,197,317.01 |
Handling charges and commissions payable | ||
Reinsurance payable | ||
Liabilities directly associated with assets classified as held for sale | ||
Current portion of non-current liabilities | ||
Other current liabilities | 11,100,915.25 | |
Total current liabilities | 2,015,619,061.14 | 1,913,264,870.33 |
Non-current liabilities: | ||
Insurance contract reserve | ||
Long-term borrowings | ||
Bonds payable | ||
Including: Preferred shares | ||
Perpetual bonds | ||
Lease liabilities | ||
Long-term payables | ||
Long-term payroll payable | 40,245,406.52 | 40,245,406.52 |
Provisions |
Deferred income | 73,743,596.30 | 74,953,385.51 |
Deferred income tax liabilities | 65,140,818.53 | 49,618,839.47 |
Other non-current liabilities | ||
Total non-current liabilities | 179,129,821.35 | 164,817,631.50 |
Total liabilities | 2,194,748,882.49 | 2,078,082,501.83 |
Owners’ equity: | ||
Share capital | 685,790,364.00 | 685,790,364.00 |
Other equity instruments | ||
Including: Preferred shares | ||
Perpetual bonds | ||
Capital reserves | 1,595,711,805.31 | 1,595,711,805.31 |
Less: Treasury stock | ||
Other comprehensive income | 241,670.59 | 438.33 |
Special reserves | ||
Surplus reserves | 122,122,436.98 | 122,122,436.98 |
General reserve | ||
Retained earnings | -45,803,246.98 | -131,155,119.19 |
Total equity attributable to owners of the Company as the parent | 2,358,063,029.90 | 2,272,469,925.43 |
Non-controlling interests | 579,366,628.73 | 566,596,569.02 |
Total owners’ equity | 2,937,429,658.63 | 2,839,066,494.45 |
Total liabilities and owners’ equity | 5,132,178,541.12 | 4,917,148,996.28 |
Legal representative: Li Shaoling Head for financial affairs: Guan YingHead of the financial department: Liu Quanli
2. Balance Sheet of the Company as the Parent
Unit: RMB
Item | 30 September 2019 | 31 December 2018 |
Current assets: | ||
Monetary capital | 3,806,520.59 | 13,597,659.66 |
Trading financial assets | ||
Financial assets at fair value through profit or loss | ||
Derivative financial assets |
Notes receivable | ||
Accounts receivable | 74,460.00 | 79,986.00 |
Accounts receivable financing | ||
Prepayments | 19,000.00 | 20,000.00 |
Other receivables | 31,789,102.45 | 227,353.10 |
Including: Interest receivable | ||
Dividends receivable | ||
Inventories | 4,824,035.45 | 4,824,035.45 |
Contractual assets | ||
Assets classified as held for sale | ||
Current portion of non-current assets | ||
Other current assets | 2,234,896.21 | 1,962,371.32 |
Total current assets | 42,748,014.70 | 20,711,405.53 |
Non-current assets: | ||
Investments in debt obligations | ||
Available-for-sale financial assets | 20,000,000.00 | |
Investments in other debt obligations | ||
Held-to-maturity investments | ||
Long-term receivables | ||
Long-term equity investments | 2,377,420,527.10 | 2,375,639,964.05 |
Investments in other equity instruments | 20,000,000.00 | |
Other non-current financial assets | ||
Investment property | 5,551,966.88 | 5,778,794.33 |
Fixed assets | 3,232,789.18 | 3,260,620.04 |
Construction in progress | ||
Productive living assets | ||
Oil and gas assets | ||
Right-of-use assets | ||
Intangible assets | 94,088.04 | 171,069.18 |
R&D expense | ||
Goodwill | ||
Long-term prepaid expense | 110,062.84 | 180,817.60 |
Deferred income tax assets |
Other non-current assets | ||
Total non-current assets | 2,406,409,434.04 | 2,405,031,265.20 |
Total assets | 2,449,157,448.74 | 2,425,742,670.73 |
Current liabilities: | ||
Short-term borrowings | ||
Trading financial liabilities | ||
Financial liabilities at fair value through profit or loss | ||
Derivative financial liabilities | ||
Notes payable | ||
Accounts payable | ||
Advances from customers | 38,896.41 | 38,896.41 |
Contractual liabilities | ||
Payroll payable | 376,482.76 | 438,195.96 |
Taxes payable | 992,416.59 | 976,458.68 |
Other payables | 509,692,210.91 | 449,947,050.56 |
Including: Interest payable | 21,082,795.47 | 21,082,795.47 |
Dividends payable | 3,213,302.88 | 3,213,302.88 |
Liabilities directly associated with assets classified as held for sale | ||
Current portion of non-current liabilities | ||
Other current liabilities | ||
Total current liabilities | 511,100,006.67 | 451,400,601.61 |
Non-current liabilities: | ||
Long-term borrowings | ||
Bonds payable | ||
Including: Preferred shares | ||
Perpetual bonds | ||
Lease liabilities | ||
Long-term payables | ||
Long-term payroll payable | ||
Provisions | ||
Deferred income | ||
Deferred income tax liabilities |
Other non-current liabilities | ||
Total non-current liabilities | ||
Total liabilities | 511,100,006.67 | 451,400,601.61 |
Owners’ equity: | ||
Share capital | 685,790,364.00 | 685,790,364.00 |
Other equity instruments | ||
Including: Preferred shares | ||
Perpetual bonds | ||
Capital reserves | 2,173,387,468.71 | 2,173,387,468.71 |
Less: Treasury stock | ||
Other comprehensive income | ||
Special reserves | ||
Surplus reserves | 109,487,064.39 | 109,487,064.39 |
Retained earnings | -1,030,607,455.03 | -994,322,827.98 |
Total owners’ equity | 1,938,057,442.07 | 1,974,342,069.12 |
Total liabilities and owners’ equity | 2,449,157,448.74 | 2,425,742,670.73 |
3. Consolidated Income Statement for Q3
Unit: RMB
Item | Q3 2019 | Q3 2018 |
1. Revenue | 1,824,886,529.92 | 1,899,805,985.97 |
Including: Operating revenue | 1,824,886,529.92 | 1,899,805,985.97 |
Interest income | ||
Premium income | ||
Handling charge and commission income | ||
2. Costs and expenses | 1,764,674,515.46 | 1,806,906,735.47 |
Including: Cost of sales | 1,652,610,736.57 | 1,703,299,548.14 |
Interest expense | ||
Handling charge and commission expense | ||
Surrenders | ||
Net claims paid | ||
Net amount provided as policy reserve |
Expenditure on policy dividends | ||
Reinsurance premium expense | ||
Taxes and surcharges | 5,490,323.70 | 4,706,132.09 |
Selling expense | 50,699,252.02 | 48,195,311.31 |
Administrative expense | 47,487,578.68 | 52,378,722.27 |
R&D expense | 703,632.42 | 349,299.58 |
Finance costs | 7,682,992.07 | -2,022,277.92 |
Including: Interest expense | 29,919,400.39 | 28,498,954.62 |
Interest income | 22,365,123.69 | 12,702,511.85 |
Add: Other income | 1,908,875.68 | 3,420,131.60 |
Return on investment (“-” for loss) | 1,089,429.46 | 5,574,816.04 |
Including: Share of profit or loss of joint ventures and associates | ||
Derecognition income of financial assets measured at amortized cost | ||
Foreign exchange gain (“-” for loss) | ||
Net gain on exposure hedges (“-” for loss) | ||
Gain on changes in fair value (“-” for loss) | -512,728.81 | -36,001,451.60 |
Credit impairment loss (“-” for loss) | ||
Assets impairment loss (“-” for loss) | 1,193.30 | -203,532.58 |
Asset disposal income (“-” for loss) | -733,109.31 | -1,607,843.98 |
3. Operating profit (“-” for loss) | 61,965,674.78 | 64,081,369.98 |
Add: Non-operating income | 539,843.22 | 983,957.85 |
Less: Non-operating expense | 1,127,254.62 | 276,289.34 |
4. Profit before tax (“-” for loss) | 61,378,263.38 | 64,789,038.49 |
Less: Income tax expense | 15,853,529.76 | 9,498,223.59 |
5. Net profit (“-” for net loss) | 45,524,733.62 | 55,290,814.90 |
5.1 By operating continuity | ||
5.1.1 Net profit from continuing operations (“-” for net loss) | 45,524,733.62 | 55,290,814.90 |
5.1.2 Net profit from discontinued operations (“-” for net loss) | ||
5.2 By ownership | ||
5.2.1 Net profit attributable to owners of the Company as the parent | 33,840,967.80 | 42,345,394.93 |
5.2.2 Net profit attributable to non-controlling interests | 11,683,765.82 | 12,945,419.97 |
6. Other comprehensive income, net of tax | 190,287.74 | 264,437.23 |
Attributable to owners of the Company as the parent | 190,287.74 | 264,437.23 |
6.1 Items that will not be reclassified to profit or loss | ||
6.1.1 Changes caused by remeasurements on defined benefit pension schemes | ||
6.1.2 Other comprehensive income that will not be reclassified to profit or loss under the equity method | ||
6.1.3 Changes in the fair value of investments in other equity instruments | ||
6.1.4 Changes in the fair value of the company’s credit risks | ||
6.1.5 Other | ||
6.2 Items that will be reclassified to profit or loss | 190,287.74 | 264,437.23 |
6.2.1 Other comprehensive income that will be reclassified to profit or loss under the equity method | ||
6.2.2 Changes in the fair value of investments in other debt obligations | ||
6.2.3 Gain/Loss on changes in the fair value of available-for-sale financial assets | ||
6.2.4 Other comprehensive income arising from the reclassification of financial assets | ||
6.2.5 Gain/Loss arising from the reclassification of held-to-maturity |
investments to available-for-sale financial assets | ||
6.2.6 Allowance for credit impairments in investments in other debt obligations | ||
6.2.7 Reserve for cash flow hedges | ||
6.2.8 Differences arising from the translation of foreign currency-denominated financial statements | 190,287.74 | 264,437.23 |
6.2.9 Other | ||
Attributable to non-controlling interests | ||
7. Total comprehensive income | 45,715,021.36 | 55,555,252.13 |
Attributable to owners of the Company as the parent | 34,031,255.54 | 42,609,832.16 |
Attributable to non-controlling interests | 11,683,765.82 | 12,945,419.97 |
8. Earnings per share | ||
8.1 Basic earnings per share | 0.05 | 0.06 |
8.2 Diluted earnings per share | 0.05 | 0.06 |
Where business combinations under common control occurred in the current period, the net profit achieved by the acquirees beforethe combinations was RMBXXX, with the amount for the same period of last year being RMBXXX.Legal representative: Li Shaoling Head for financial affairs: Guan YingHead of the financial department: Liu Quanli
4. Income Statement of the Company as the Parent for Q3
Unit: RMB
Item | Q3 2019 | Q3 2018 |
1. Operating revenue | 0.00 | 0.00 |
Less: Cost of sales | 0.00 | 75,609.15 |
Taxes and surcharges | 33,908.40 | 32,242.73 |
Selling expense | ||
Administrative expense | 10,567,161.77 | 8,498,118.65 |
R&D expense | ||
Finance costs | 4,064,326.05 | 3,587,578.96 |
Including: Interest expense | 4,067,234.62 | 3,588,242.50 |
Interest income | 3,054.57 | 2,774.94 |
Add: Other income | ||
Return on investment (“-” for loss) | ||
Including: Share of profit or loss of joint ventures and associates | ||
Derecognition income of financial assets measured at amortized cost | ||
Net gain on exposure hedges (“-” for loss) | ||
Gain on changes in fair value (“-” for loss) | ||
Credit impairment loss (“-” for loss) | ||
Assets impairment loss (“-” for loss) | 0.00 | -580.00 |
Asset disposal income (“-” for loss) | ||
2. Operating profit (“-” for loss) | -14,665,396.22 | -12,194,129.49 |
Add: Non-operating income | ||
Less: Non-operating expense | ||
3. Profit before tax (“-” for loss) | -14,665,396.22 | -12,194,129.49 |
Less: Income tax expense | ||
4. Net profit (“-” for net loss) | -14,665,396.22 | -12,194,129.49 |
4.1 Net profit from continuing operations (“-” for net loss) | -14,665,396.22 | |
4.2 Net profit from discontinued operations (“-” for net loss) | ||
5. Other comprehensive income, net of tax | ||
5.1 Items that will not be reclassified to profit or loss | ||
5.1.1 Changes caused by remeasurements on defined benefit pension schemes | ||
5.1.2 Other comprehensive income that will not be reclassified to profit or |
loss under the equity method | ||
5.1.3 Changes in the fair value of investments in other equity instruments | ||
5.1.4 Changes in the fair value of the company’s credit risks | ||
5.1.5 Other | ||
5.2 Items that will be reclassified to profit or loss | ||
5.2.1 Other comprehensive income that will be reclassified to profit or loss under the equity method | ||
5.2.2 Changes in the fair value of investments in other debt obligations | ||
5.2.3 Gain/Loss on changes in the fair value of available-for-sale financial assets | ||
5.2.4 Other comprehensive income arising from the reclassification of financial assets | ||
5.2.5 Gain/Loss arising from the reclassification of held-to-maturity investments to available-for-sale financial assets | ||
5.2.6 Allowance for credit impairments in investments in other debt obligations | ||
5.2.7 Reserve for cash flow hedges | ||
5.2.8 Differences arising from the translation of foreign currency-denominated financial statements | ||
5.2.9 Other | ||
6. Total comprehensive income | -14,665,396.22 | -12,194,129.49 |
7. Earnings per share | ||
7.1 Basic earnings per share | ||
7.2 Diluted earnings per share |
5. Consolidated Income Statement for Q1~Q3
Unit: RMB
Item | Q1~Q3 2019 | Q1~Q3 2018 |
1. Revenue | 5,108,164,255.31 | 5,539,431,965.38 |
Including: Operating revenue | 5,108,164,255.31 | 5,539,431,965.38 |
Interest income | ||
Premium income | ||
Handling charge and commission income | ||
2. Operating costs and expenses | 5,018,488,742.07 | 5,367,776,105.45 |
Including: Cost of sales | 4,693,289,477.71 | 5,038,627,672.46 |
Interest expense | ||
Handling charge and commission expense | ||
Surrenders | ||
Net claims paid | ||
Net amount provided as policy reserve | ||
Expenditure on policy dividends | ||
Reinsurance premium expense | ||
Taxes and surcharges | 17,090,887.34 | 19,018,278.45 |
Selling expense | 151,930,390.29 | 139,821,320.67 |
Administrative expense | 128,785,807.05 | 135,753,834.87 |
R&D expense | 1,234,698.42 | 1,072,960.08 |
Finance costs | 26,157,481.26 | 33,482,038.92 |
Including: Interest expense | 52,900,693.46 | 80,549,317.31 |
Interest income | 26,485,752.27 | 28,499,809.74 |
Add: Other income | 11,779,973.90 | 8,937,425.37 |
Investment income (“-” for loss) | 10,268,731.55 | 16,487,429.06 |
Including: Share of profit or loss of joint ventures and associates | ||
Derecognition income of financial assets measured at amortized cost | ||
Foreign exchange gain (“-” for loss) | ||
Net gain on exposure hedges (“-” |
for loss) | ||
Gain on changes in fair value (“-” for loss) | 25,645,552.41 | -22,110,484.16 |
Credit impairment loss (“-” for loss) | ||
Assets impairment loss (“-” for loss) | -196,502.26 | 278,887.16 |
Asset disposal income (“-” for loss) | 11,264,409.09 | -1,796,072.16 |
3. Operating profit (“-” for loss) | 148,437,677.93 | 173,453,045.20 |
Add: Non-operating income | 2,256,286.81 | 10,781,378.60 |
Less: Non-operating expense | 1,949,673.24 | 9,896,461.65 |
4. Profit before tax (“-” for loss) | 148,744,291.50 | 174,337,962.15 |
Less: Income tax expense | 37,975,305.88 | 44,488,495.00 |
5. Net profit (“-” for net loss) | 110,768,985.62 | 129,849,467.15 |
5.1 By operating continuity (“-” for net loss) | ||
5.1.1 Net profit from continuing operations (“-” for net loss) | 110,768,985.62 | 129,849,467.15 |
5.1.2 Net profit from discontinued operations (“-” for net loss) | ||
5.2 By ownership | ||
5.2.1 Net profit attributable to owners of the Company as the parent | 85,351,872.21 | 102,264,390.61 |
5.2 2. Net profit attributable to non-controlling interests | 25,417,113.41 | 27,585,076.54 |
6. Other comprehensive income, net of tax | 241,232.26 | 449,844.98 |
Attributable to owners of the Company as the parent | 241,232.26 | 449,844.98 |
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 |
6.1.3 Changes in the fair value of investments in other equity instruments | ||
6.1.4 Changes in the fair value of the company’s credit risks | ||
6.1.5 Other | ||
6.2 Items that may subsequently be reclassified to profit or loss | 241,232.26 | 449,844.98 |
6.2.1 Share of other comprehensive income of investees that will be reclassified to profit or loss under equity method | ||
6.2.2 Changes in the fair value of investments in other debt obligations | ||
6.2.3 Gain/Loss on changes in fair value of available-for-sale financial assets | ||
6.2.4. Other comprehensive income arising from the reclassification of financial assets | ||
6.2.5 Gain/Loss arising from reclassification of held-to-maturity investments to available-for-sale financial assets | ||
6.2.6 Allowance for credit impairments in investments in other debt obligations | ||
6.2.7 Reserve for cash flow hedges | ||
6.2.8 Differences arising from translation of foreign currency-denominated financial statements | 241,232.26 | 449,844.98 |
6.2.9 Other | ||
Attributable to non-controlling interests | ||
7. Total comprehensive income | 111,010,217.88 | 130,299,312.13 |
Attributable to owners of the Company as the parent | 85,593,104.47 | 102,714,235.59 |
Attributable to non-controlling interests | 25,417,113.41 | 27,585,076.54 |
8. Earnings per share |
8.1 Basic earnings per share | 0.12 | 0.15 |
8.2 Diluted earnings per share | 0.12 | 0.15 |
Where business combinations under common control occurred in the current period, the net profit achieved by the acquirees beforethe combinations was RMBXXX, with the amount for the same period of last year being RMBXXX.Legal representative: Li Shaoling Head for financial affairs: Guan YingHead of the financial department: Liu Quanli
6. Income Statement of the Company as the Parent for Q1~Q3
Unit: RMB
Item | Q1~Q3 2019 | Q1~Q3 2018 |
1. Operating revenue | 0.00 | 0.00 |
Less: Cost of sales | 0.00 | 226,827.45 |
Taxes and surcharges | 102,985.20 | 1,046,593.89 |
Selling expense | ||
Administrative expense | 24,078,567.37 | 14,511,777.95 |
R&D expense | ||
Finance costs | 11,629,290.32 | 9,982,985.70 |
Including: Interest expense | 11,638,818.11 | 10,929,291.28 |
Interest income | 14,138.40 | 954,302.98 |
Add: Other income | ||
Investment income (“-” for loss) | ||
Including: Share of profit or loss of joint ventures and associates | ||
Derecognition income of financial assets measured at amortized cost | ||
Net gain on exposure hedges (“-” for loss) | ||
Gain on changes in fair value (“-” for loss) | ||
Credit impairment loss (“-” for loss) | ||
Assets impairment loss (“-” for loss) | -4,344.16 | 98,668.41 |
Asset disposal income (“-” for |
loss) | ||
2. Operating profit (“-” for loss) | -35,815,187.05 | -25,669,516.58 |
Add: Non-operating income | ||
Less: Non-operating expense | 469,440.00 | 100.00 |
3. Profit before tax (“-” for loss) | -36,284,627.05 | -25,669,616.58 |
Less: Income tax expense | ||
4. Net profit (“-” for net loss) | -36,284,627.05 | -25,669,616.58 |
4.1 Net profit from continuing operations (“-” for net loss) | -36,284,627.05 | |
4.2 Net profit from discontinued operations (“-” for net loss) | ||
5. Other comprehensive income, net of tax | ||
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 | ||
5.1.3 Changes in the fair value of investments in other debt obligations | ||
5.1.4 Changes in the fair value of the company’s credit risks | ||
5.1.5 Other | ||
5.2 Items that may subsequently be reclassified to profit or loss | ||
5.2.1 Share of other comprehensive income of investees that will be reclassified to profit or loss under equity method | ||
5.2.2 Changes in the fair value of investments in other debt obligations | ||
5.2.3 Gain/Loss on changes in fair value of available-for-sale financial assets | ||
5.2.4 Other comprehensive income arising from the reclassification of |
financial assets | ||
5.2.5 Gain/Loss arising from reclassification of held-to-maturity investments to available-for-sale financial assets | ||
5.2.6 Allowance for credit impairments in investments in other debt obligations | ||
5.2.7 Reserve for cash flow hedges | ||
5.2.8 Differences arising from translation of foreign currency-denominated financial statements | ||
5.2.9 Other | ||
6. Total comprehensive income | -36,284,627.05 | -25,669,616.58 |
7. Earnings per share | ||
7.1 Basic earnings per share | ||
7.2 Diluted earnings per share |
7. Consolidated Cash Flow Statement for Q1~Q3
Unit: RMB
Item | Q1~Q3 2019 | Q1~Q3 2018 |
1. Cash flows from operating activities: | ||
Proceeds from sale of commodities and rendering of services | 5,561,175,595.39 | 6,089,990,408.11 |
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 | ||
Interest, handling charges and commissions received | ||
Net increase in interbank loans |
obtained | ||
Net increase in proceeds from repurchase transactions | ||
Net proceeds from acting trading of securities | ||
Tax rebates | 8,511,133.41 | 11,907,624.39 |
Cash generated from other operating activities | 1,018,233,943.12 | 1,766,762,056.68 |
Subtotal of cash generated from operating activities | 6,587,920,671.92 | 7,868,660,089.18 |
Payments for commodities and services | 4,955,576,528.87 | 5,488,803,432.64 |
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 | ||
Net increase in interbank loans granted | ||
Interest, handling charges and commissions paid | ||
Policy dividends paid | ||
Cash paid to and for employees | 225,542,724.31 | 215,823,143.63 |
Taxes paid | 113,872,002.20 | 149,429,869.38 |
Cash used in other operating activities | 846,183,684.46 | 1,595,019,949.04 |
Subtotal of cash used in operating activities | 6,141,174,939.84 | 7,449,076,394.69 |
Net cash generated from/used in operating activities | 446,745,732.08 | 419,583,694.49 |
2. Cash flows from investing activities: | ||
Proceeds from disinvestment | 1,451,236,691.57 | 1,647,338,090.45 |
Return on investment | 24,608,980.29 | 22,660,696.79 |
Net proceeds from the disposal of fixed assets, intangible assets and other long-lived assets | 69,211.68 | 624,362.84 |
Net proceeds from the disposal of subsidiaries and other business units | ||
Cash generated from other investing activities | 94,375,000.00 |
Subtotal of cash generated from investing activities | 1,475,914,883.54 | 1,764,998,150.08 |
Payments for the acquisition of fixed assets, intangible assets and other long-lived assets | 41,645,608.65 | 44,298,838.25 |
Payments for investments | 1,921,580,563.05 | 1,944,330,000.00 |
Net increase in pledged loans granted | ||
Net payments for the acquisition of subsidiaries and other business units | 47,954,985.00 | |
Cash used in other investing activities | 752.21 | 289,112,694.38 |
Subtotal of cash used in investing activities | 1,963,226,923.91 | 2,325,696,517.63 |
Net cash generated from/used in investing activities | -487,312,040.37 | -560,698,367.55 |
3. Cash flows from financing activities: | ||
Capital contributions received | 126,553,500.00 | |
Including: Capital contributions by non-controlling interests to subsidiaries | ||
Borrowings obtained | 1,633,175,871.20 | 1,705,500,818.73 |
Cash generated from other financing activities | 4,857,675,313.61 | |
Subtotal of cash generated from financing activities | 1,633,175,871.20 | 6,689,729,632.34 |
Repayments of borrowings | 1,929,842,758.45 | 1,917,644,873.55 |
Payments for interest and dividends | 75,821,378.17 | 98,022,459.14 |
Including: Dividends paid by subsidiaries to non-controlling interests | ||
Cash used in other financing activities | 4,891,136,552.93 | |
Subtotal of cash used in financing activities | 2,005,664,136.62 | 6,906,803,885.62 |
Net cash generated from/used in financing activities | -372,488,265.42 | -217,074,253.28 |
4. Effect of foreign exchange rate changes on cash and cash equivalents | 3,782,563.49 | 19,414,338.66 |
5. Net increase in cash and cash equivalents | -409,272,010.22 | -338,774,587.68 |
Add: Cash and cash equivalents, beginning of the period | 867,870,016.78 | 1,014,438,663.43 |
6. Cash and cash equivalents, end of the period | 458,598,006.56 | 675,664,075.75 |
8. Cash Flow Statement of the Company as the Parent for Q1~Q3
Unit: RMB
Item | Q1~Q3 2019 | Q1~Q3 2018 |
1. Cash flows from operating activities: | ||
Proceeds from sale of commodities and rendering of services | ||
Tax rebates | 1,800.00 | 750.00 |
Cash generated from other operating activities | 33,566,371.69 | 58,581,113.47 |
Subtotal of cash generated from operating activities | 33,568,171.69 | 58,581,863.47 |
Payments for commodities and services | 25,453.09 | 87,700.45 |
Cash paid to and for employees | 17,908,969.70 | 12,261,894.85 |
Taxes paid | 105,317.14 | 5,670,439.48 |
Cash used in other operating activities | 52,051,442.98 | 57,497,384.43 |
Subtotal of cash used in operating activities | 70,091,182.91 | 75,517,419.21 |
Net cash generated from/used in operating activities | -36,523,011.22 | -16,935,555.74 |
2. Cash flows from investing activities: | ||
Proceeds from disinvestment | ||
Return on investment | ||
Net proceeds from the disposal of fixed assets, intangible assets and other long-lived assets | -34,427.35 | |
Net proceeds from the disposal of subsidiaries and other business units | ||
Cash generated from other investing activities | ||
Subtotal of cash generated from investing activities | 0.00 | -34,427.35 |
Payments for the acquisition of fixed assets, intangible assets and other long-lived assets | 187,564.80 | 214,550.26 |
Payments for investments | 1,780,563.05 | 39,000,000.00 |
Net payments for the acquisition of subsidiaries and other business units | ||
Cash used in other investing |
activities | ||
Subtotal of cash used in investing activities | 1,968,127.85 | 39,214,550.26 |
Net cash generated from/used in investing activities | -1,968,127.85 | -39,248,977.61 |
3. Cash flows from financing activities: | ||
Capital contributions received | ||
Borrowings obtained | 28,700,000.00 | 75,900,000.00 |
Cash generated from other financing activities | ||
Subtotal of cash generated from financing activities | 28,700,000.00 | 75,900,000.00 |
Repayments of borrowings | 16,000,000.00 | |
Payments for interest and dividends | 3,649,220.00 | |
Cash used in other financing activities | ||
Subtotal of cash used in financing activities | 0.00 | 19,649,220.00 |
Net cash generated from/used in financing activities | 28,700,000.00 | 56,250,780.00 |
4. Effect of foreign exchange rate changes on cash and cash equivalents | ||
5. Net increase in cash and cash equivalents | -9,791,139.07 | 66,246.65 |
Add: Cash and cash equivalents, beginning of the period | 13,597,659.66 | 15,360,177.32 |
6. Cash and cash equivalents, end of the period | 3,806,520.59 | 15,426,423.97 |
II Adjustments to the Financial Statements
1. Adjustments to the Financial Statements at the Beginning of the Execution of any New StandardsGoverning Financial Instruments, Revenue or Leases from 2019
□ Applicable √ Not applicable
2. Retrospective Restatement of Previous Comparative Data due to the Execution of any New StandardsGoverning Financial Instruments or Leases from 2019
□ Applicable √ Not applicable
III Independent Auditor’s ReportIndicate 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.
Hainan Jingliang Holdings Co., Ltd.19 October 2019