Ticker: 002242 Stock Abbreviation:
Joyoung
Joyoung Co., Ltd.Interim Report of the Third Quarter 2021
Important notes:
Board of Directors, the Supervisory Committee as well as all the directors, supervisors and seniormanagement staff of Joyoung Co., Ltd. (hereinafter referred to as the “Company”) have guaranteed that thisReport contains no false record, misleading statement or material omission and shall be jointly and severallyliable for the factuality, accuracy and completeness of the information given in this Report.CEO of the Company, CFO of the Company, and Chief Accountant of Accounting Institution, declaredthat the quarterly financial statements should be true, accurate and complete.In case of any discrepancy, the Chinese version of the report shall prevail.Whether the third quarterly report was audited
□ Yes √ No
I. Key Accounting Data and Financial Indicators
1. Key Accounting Data and Financial Indicators
Whether the Company performed a retroactive adjustment to or restatement of accounting data
□ Yes √ No
The Company and all members of the Board of Directors have guaranteed that the information disclosed is true,accurate and complete, and contains no false record, misleading statements or material omissions.
From 1 July 2021 to 30 September 2021 | YoY Change | From 1 January 2021 to 30 September 2021 | YoY Change | |
Operating revenue (RMB) | 2,288,421,316.19 | -9.35% | 7,031,953,663.00 | -0.72% |
Net Profit attributable to shareholders of the Company (RMB) | 211,704,401.73 | -6.42% | 663,158,912.96 | 2.98% |
Net profit attributable to shareholders of the Company before non-recurring gains and losses (RMB) | 197,518,780.25 | -5.51% | 546,476,352.91 | -9.24% |
Net cash flows from operating activities (RMB) | —— | —— | -459,813,538.33 | -154.97% |
Basic earnings per share (RMB / share) | 0.29 | -3.33% | 0.87 | 3.57% |
Diluted earnings per share (RMB / share) | 0.28 | -6.67% | 0.86 | 2.38% |
Weighted average return on net assets | 4.07% | Decreased by 1.78 percent point | 14.37% | Decreased by 2.17 percent point |
30 Sep. 2021 | 30 Sep. 2020 | Flux | ||
Total assets (RMB) | 7,580,907,506.60 | 9,134,826,691.51 | -17.01% | |
Net assets attributable to shareholders of the Company (RMB) | 4,184,856,332.93 | 4,283,761,519.10 | -2.31% |
2. Non-recurring gain and loss items and amounts thereof
Unit: RMB
Item | From 1 July 2021 to 30 September 2021 | From 1 January 2021 to 30 September 2021 | Note |
Profit or loss from disposal of non-current assets (including the write off of the provision for impairment of assets) | -196,760.88 | 6,909,911.46 | |
Government grants included in the current profit or loss (that is closely related to the operations of the Company, except for those of fixed quotas or amounts according to the nationally unified standards) | 6,235,526.81 | 76,490,396.77 | |
Gains or losses from changes in fair value arising from the holding of trading financial assets, derivative financial assets, trading financial liabilities and derivative financial liabilities and investment income from the disposal of trading financial assets, derivative financial assets, trading financial liabilities, derivative financial liabilities and other debt investments, excluding the effective hedging business related to the Company’s normal business operations | 4,075,069.67 | 49,056,454.34 | |
Other non-operating income or expenses except the above items | 8,415,960.69 | 15,653,453.58 | |
Less: Impact of income taxes | 4,390,330.59 | 31,147,097.33 | |
Impact of minority interests (after tax) | -46,155.78 | 280,558.77 | |
Total | 14,185,621.48 | 116,682,560.05 | -- |
Details of other profit and loss items that meet the definition of non-recurring profit or loss
□ Applicable √ Not applicable
For non-recurring profit or loss items listed in the Interpretative Announcement on Information Disclosure of Companies OfferingSecurities to the Public No. 1 — Non-recurring Profit or Loss that have been defined as recurring profit or loss items by the Company,please provide the reasons
□ Applicable √ Not applicable
3. Changes in key accounting data and financial indicators and reasons for such changes
Unit: RMB
Item | 30 September 2021 | 31 December 2021 | Flux | Notes |
Trading financial assets | 543,268,397.23 | 1,246,680,033.61 | -56.42% | Mainly due to redemption of wealth management products at the end of the period |
Notes receivable | 1,256,645,555.26 | 1,895,450,516.93 | -33.70% | Mainly due to the decrease in notes collections in the current period |
Accounts receivable | 776,781,891.28 | 212,481,359.50 | 265.58% | Mainly due to the increase in receivables from JS Global Trading HK Limited, which have not yet reached their due dates |
Receivables financing | 446,551,564.74 | 758,694,902.66 | -41.14% | Mainly due to the endorsement of notes receivable in the period-end |
Prepaid expense | 83,769,484.63 | 16,243,257.44 | 415.72% | Mainly due to the increase in raw materials and the increase in the amount of locking in raw material prices during the period |
Other receivables | 92,928,264.62 | 168,782,890.42 | -44.94% | Mainly due to the recovery of plant and compensation for land resumption during the period |
Construction in progress | 54,270,244.98 | 11,012,005.02 | 392.83% | Mainly due to the new industrial factory project in the current period |
Long-term deferred expense | 9,392,145.74 | 4,273,916.45 | 119.76% | Mainly due to the increase in advertising and promotion expenses in the current period |
Notes payable | 1,601,309,031.91 | 1,227,524,091.85 | 30.45% | Mainly due to the higher use of notes for settlement in the period |
Accounts payable | 1,145,891,369.68 | 2,445,262,708.10 | -53.14% | Mainly due to the higher use of prepaid expense for |
settlement in the periodUnearned revenue
Unearned revenue | 1,301,873.47 | -100.00% | Mainly due to the decrease in rent received in advance during the period | |
Contract liability | 308,062,516.01 | 568,863,419.80 | -45.85% | Mainly due to the decrease in advance receipts in the current period |
Payroll payable | 30,423,598.12 | 239,440,390.99 | -87.29% | Mainly due to bonus payment at the beginning of the period |
Other payables | 79,796,888.57 | 143,383,890.67 | -44.35% | Mainly due to the decrease in accrued unpaid expenses in the current period |
Right-of-use asset | 48,035,043.99 | This is mainly due to the recognition of right-of-use assets and lease liabilities as a result of the implementation of the new leasing standards in the current period | ||
Lease liability | 22,035,656.08 | |||
Current portion of non-current liabilities | 29,151,811.52 |
Other current liabilities | 40,048,127.08 | 72,741,689.90 | -44.94% | Mainly due to decrease in contract liabilities and related stay - recognition tax |
Minority interests | -6,525,688.24 | -1,269,760.66 | -413.93% | Mainly due to the loss of SharkNinja (China) in the current period |
Item | From 1 January 2021 to 30 September 2021 | From 1 January 2021 to 30 September 2020 | YoY | Note |
Taxes and surcharges | 27,956,551.98 | 40,944,630.40 | -31.72% | Mainly due to the decrease in city construction tax and education surcharge |
Financial expense | -20,735,319.66 | -13,260,474.11 | -56.37% | Mainly due to the increase in interest income |
Other income | 76,730,424.69 | 26,604,473.22 | 188.41% | Mainly due to the increase in government subsidies in the current period |
Investment income | 53,838,899.20 | 20,982,567.45 | 156.59% | Mainly due to the increase in income from long-term investments and wealth management investments in the current period |
Gains/(Losses) on changes in fair value | 13,058,790.16 | -9,828,547.70 | 232.87% | Mainly due to the increase in the fair value of the fund during the period |
Credit impairment losses | -12,732,405.68 | -20,628,705.62 | 38.28% | Mainly due to the decrease in bad debts from other receivable during the period |
Asset impairment losses | -9,619,182.89 | -5,061,750.94 | -90.04% | Mainly due to the increase in bad debts of prepaid expense |
Non-operating income | 14,731,647.50 | 4,007,813.38 | 267.57% | Mainly due to the receipt of compensation income during the period |
Non-operating expense | 10,318,936.96 | 5,607,292.43 | 84.03% | Mainly due to the increase in donation expenses in the current period |
Net cash flows from operating activities | -459,813,538.33 | 836,525,901.98 | -154.97% | Mainly due to the payment for raw materials in the current period |
Cash received from returns on investments | 10,851,423.00 | 3,500,000.00 | 210.04% | Mainly due to the increase in cash received from the disposal of associates during the period |
Net cash received from disposal of fixed assets, intangible assets and other long-term assets | 150,940,690.59 | 28,432,063.55 | 430.88% | Mainly due to the recovery of the prior period's disposal of the South Plant in the current period |
Cash paid to acquire fixed assets, intangible assets and other long-term assets | 69,179,022.89 | 52,198,209.64 | 32.53% | Mainly due to the addition of construction in progress during the period |
Cash paid to acquire investments | 23,540,303.16 | 15,202,789.49 | 54.84% | Mainly due to the increase in the purchase of equity instruments and financial instruments during the period |
Cash paid relating to other investing activities | 2,276,500,000.00 | 3,303,300,000.00 | -31.08% | Mainly due to the decrease in wealth management product purchases in the current period |
Cash received relating to other financing activities | 25,520.00 | 829,053,052.04 | -100.00% | Mainly due to the decrease in financing bank acceptance bills received during the period |
Sub-total of cash inflows from financing activities | 24,525,520.00 | 853,553,052.04 | -97.13% | Mainly due to the decrease in financing bank acceptance bills received during the period |
Cash payments for interest expenses and distribution of dividends or profits | 767,017,000.00 | 444,917,420.00 | 72.40% | Mainly due to the increase in dividend distribution for the period |
Cash payments relating to other financing activities | 50,136,000.00 | 360,038,000.00 | -86.07% | Mainly due to the decrease in payment of financing bank acceptance bills in the period |
Net cash flows from financing activities | -792,627,480.00 | 48,597,632.04 | -1731.00% | Mainly due to the decrease in payment of financing bank acceptance bills in the period |
II. Shareholder Information
1. Total number of common shareholders and shareholdings of the top ten common shareholders at the period-end
Unit: share
Total number of common shareholders at the end of the Reporting Period | 38,916 | Total number of preferred shareholders with resumed voting rights at the end of the Reporting Period (if any) | 0 | |||||
Top 10 common shareholders | ||||||||
Name of shareholder | Nature of shareholder | Shareholding percentage | Total shares held at the period-end | Number of restricted shares held | Pledged or frozen shares | |||
Status | Number | |||||||
Shanghai Lihong Enterprise Management Limited | Domestic non-state-owned corporation | 50.13% | 384,523,746 | Pledged | 307,618,897 | |||
BILTING DEVELOPMENTS LIMITED | Foreign corporation | 16.94% | 129,924,090 | |||||
Hong Kong Securities Clearing Co., Ltd. | Foreign corporation | 11.80% | 90,515,456 | |||||
Central Huijin Investment Ltd. | State-owned corporation | 1.49% | 11,442,633 | |||||
Basic Pension Insurance Fund Portfolio No. 1001 | Others | 1.40% | 10,721,435 | |||||
China Merchants Bank-Rosefinch Industry Best Choice Hybrid Securities Investment Fund | Others | 0.57% | 4,391,600 | |||||
China Merchants Bank-Zhuque Rosefinch One-Year Holding Hybrid Securities Investment Fund | Others | 0.56% | 4,263,006 | |||||
Rosefinch Fund-Shaanxi Coal Industry Company Limited-Shaanxi Coal Rosefinch New Economy Industry Single Asset Management Plan | Others | 0.40% | 3,032,307 | |||||
GF Securities-Rosefinch Corporate Preferred Equity Fund | Others | 0.38% | 2,882,320 | |||||
Bank of Korea- Equity Fund | Foreign corporation | 0.30% | 2,336,500 | |||||
Top 10 non-restricted common shareholders | ||||||||
Name of shareholder | Number of non-restricted shares held | Type of shares | ||||||
Type of shares | Number | |||||||
Shanghai Lihong Enterprise Management Limited | 384,523,746 | RMB common stock | 384,523,746 | |||||
BILTING DEVELOPMENTS LIMITED | 129,924,090 | RMB common stock | 129,924,090 | |||||
Hong Kong Securities Clearing Co., Ltd. | 90,515,456 | RMB common stock | 90,515,456 | |||||
Central Huijin Investment Ltd. | 11,442,633 | RMB common stock | 11,442,633 | |||||
Basic Pension Insurance Fund Portfolio No. 1001 | 10,721,435 | RMB common stock | 10,721,435 | |||||
China Merchants Bank-Rosefinch Industry Best Choice Hybrid Securities Investment Fund | 4,391,600 | RMB common stock | 4,391,600 | |||||
China Merchants Bank-Zhuque Rosefinch One-Year Holding Hybrid Securities Investment Fund | 4,263,006 | RMB common stock | 4,263,006 | |||||
Rosefinch Fund-Shaanxi Coal Industry Company Limited-Shaanxi Coal Rosefinch New Economy Industry Single Asset Management Plan | 3,032,307 | RMB common stock | 3,032,307 | |||||
GF Securities-Rosefinch Corporate Preferred Equity Fund | 2,882,320 | RMB common stock | 2,882,320 | |||||
Bank of Korea- Equity Fund | 2,336,500 | RMB common stock | 2,336,500 | |||||
Related or acting-in-concert parties among shareholders | In April 2019, the shareholding structure of Bilting Developments Limited |
above | changed. MR. Xuning WANG, the controlling shareholder of the Company, became the controlling shareholder of Bilting Developments Limited (See Report No. 2019-027 of the Company on www.chinainfo.com.cn.). As a result, Shanghai Lihong Enterprise Management Co., Ltd. and Bilting Developments Limited, both controlled by Mr. Xuning WANG, are defined as acting-in-concert parties by the Administrative Measures for the Takeover of Listed Companies. Other than the aforementioned related and acting-in-concert parties, the Company is uncertain about whether there are related or acting-in-concert parties among shareholders above. |
Explanation on the top 10 common shareholders participating in securitiesmargin trading (if any) | N/A |
2.Total Number of Preferred Shareholders and TOP 10 Preferred Shareholders and Their Shareholdings
□ Applicable √ Not applicable
III. Other Significant Events
□ Applicable √ Not applicable
VI. Quarterly Financial Statements
1. Financial Statements
1.1 Consolidated Balance Sheet
Prepared by: Joyoung Co., Ltd.
Unit: RMB
Item | 30 September 2021 | 31 December 2021 |
Current assets: | ||
Cash at bank and on hand | 1,555,751,114.72 | 1,961,209,198.52 |
Deposit reservation for balance | ||
Lending funds | ||
Trading financial expense | 543,268,397.23 | 1,246,680,033.61 |
Derivative financial assets | ||
Notes receivable | 1,256,645,555.26 | 1,895,450,516.93 |
Accounts receivable | 776,781,891.28 | 212,481,359.50 |
Receivables financing | 446,551,564.74 | 758,694,902.66 |
Prepaid expense | 83,769,484.63 | 16,243,257.44 |
Premium receivable | ||
Reinsurance accounts receivable | ||
Provision of cession receivable | ||
Other receivables | 92,928,264.62 | 168,782,890.42 |
Including: interest receivable | ||
Dividend receivable | ||
Redemptory monetary capital for sale | ||
Inventories | 778,146,716.56 | 944,928,730.94 |
Contract assets | ||
Holding assets for sale |
Item | 30 September 2021 | 31 December 2021 |
Current portion of non-current liabilities | ||
Other current assets | 122,244,513.68 | 95,244,781.09 |
Total current assets | 5,656,087,502.72 | 7,299,715,671.11 |
Non-current assets: | ||
Issuance of loans and advances | ||
Equity expense | ||
Other equity investments | ||
Long-term receivables | 20,627,825.00 | 23,550,500.00 |
Long-term equity investments | 193,081,224.56 | 182,672,045.70 |
Investments in other equity instruments | 282,552,082.98 | 261,574,880.56 |
Other non-current financial assets | 370,180,059.85 | 354,580,966.53 |
Investment properties | 95,652,730.16 | 91,011,579.14 |
Fixed assets | 604,782,694.56 | 646,310,542.44 |
Construction in progress | 54,270,244.98 | 11,012,005.02 |
Productive biological asset | ||
Oil and gas assets | ||
Right-of-use assets | 48,035,043.99 | |
Intangible assets | 122,529,879.92 | 124,865,929.90 |
Development expenditures | ||
Goodwill | ||
Long-term prepaid expenses | 9,392,145.74 | 4,273,916.45 |
Deferred tax assets | 58,716,072.14 | 70,258,654.66 |
Other non-current assets | 65,000,000.00 | 65,000,000.00 |
Total non-current assets | 1,924,820,003.88 | 1,835,111,020.40 |
TOTAL ASSETS | 7,580,907,506.60 | 9,134,826,691.51 |
Current liabilities: | ||
Short-term borrowings | ||
Loans from the central bank | ||
Loans from other banks | ||
Trading financial liabilities | ||
Derivative financial liability | ||
Notes payable | 1,601,309,031.91 | 1,227,524,091.85 |
Accounts payable | 1,145,891,369.68 | 2,445,262,708.10 |
Unearned revenue | 1,301,873.47 | |
Contract liabilities | 308,062,516.01 | 568,863,419.80 |
Financial assets sold for repurchase | ||
Deposits from customers and interbank | ||
Receivings from vicariously traded securities | ||
Receivings from vicariously sold securities | ||
Payroll payable | 30,423,598.12 | 239,440,390.99 |
Tax payable | 91,458,330.05 | 101,144,277.49 |
Other payables | 79,796,888.57 | 143,383,890.67 |
Including: Interest payable | ||
Dividend payable | ||
Handling fees and commissions payable | ||
Dividend payable for reinsurance |
Item | 30 September 2021 | 31 December 2021 |
Holding liabilities for sale | ||
Current portion of non-current liabilities | 29,151,811.52 | |
Other current liabilities | 40,048,127.08 | 72,741,689.90 |
Total current liabilities | 3,326,141,672.94 | 4,799,662,342.27 |
Non-current liabilities | ||
Reserve fund for insurance contracts | ||
Long-term borrowings | ||
Bonds payable | ||
Including: Preferred stock | ||
Perpetual bonds | ||
Lease liabilities | 22,035,656.08 | |
Long-term payables | ||
Long-term payroll payable | ||
Accrued liabilities | ||
Deferred income | 1,369,375.06 | 1,570,000.00 |
Deferred tax liabilities | 53,030,157.83 | 51,102,590.80 |
Other non-current liabilities | ||
Total non-current liabilities | 76,435,188.97 | 52,672,590.80 |
Total liabilities | 3,402,576,861.91 | 4,852,334,933.07 |
Shareholders’ equity | ||
Share capital | 767,033,000.00 | 767,169,000.00 |
Other equity instruments | ||
Including: preferred stock | ||
Perpetual bond | ||
Capital surplus | 942,348,540.87 | 933,782,862.84 |
Less: Treasury stock | ||
Other comprehensive income | 20,606,021.56 | 21,584,865.16 |
Special reserve | ||
Surplus reserve | 397,820,873.71 | 397,820,873.71 |
General risk reserve | ||
Undistributed profits | 2,057,047,896.79 | 2,163,403,917.39 |
Total equity attributable to shareholders of the Company | 4,184,856,332.93 | 4,283,761,519.10 |
Minority interests | -6,525,688.24 | -1,269,760.66 |
Total shareholders’ equity | 4,178,330,644.69 | 4,282,491,758.44 |
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | 7,580,907,506.60 | 9,134,826,691.51 |
Legal representative: Ningning Yang Principal in charge of accounting: Jiantiao Qiu Head of accounting department: WenGuo
1.2 CONSOLIDATED INCOME STATEMENTS FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2021
Unit: RMB
Item | For the nine months ended 30 September 2021 | For the nine months ended 30 September 2020 |
Total revenue | 7,031,953,663.00 | 7,082,944,404.29 |
Including: Operating revenue | 7,031,953,663.00 | 7,082,944,404.29 |
Interest income |
Item | For the nine months ended 30 September 2021 | For the nine months ended 30 September 2020 |
Earned Premium | ||
Handling fees and commission income | ||
Total operating cost | 6,428,336,085.06 | 6,354,338,648.43 |
Including: Cost of sales | 4,927,257,842.45 | 4,880,330,624.02 |
Interest expense | ||
Handling fees and commission expenses | ||
Surrender value | ||
Net payments for insurance claims | ||
Net provision for insurance liability | ||
Bond insurance expense | ||
Amortized Reinsurance Expenditures | ||
Taxes and surcharges | 27,956,551.98 | 40,944,630.40 |
Selling and distribution expenses | 1,036,712,663.47 | 990,575,154.88 |
General and administrative expenses | 230,586,637.26 | 237,210,831.38 |
Research and development expenses | 226,557,709.56 | 218,537,881.86 |
Financial income | -20,735,319.66 | -13,260,474.11 |
Including: Interest expenses | 1,506,250.07 | |
Interest income | 26,332,788.86 | 24,919,428.33 |
Add: Other income | 76,730,424.69 | 26,604,473.22 |
Investment income/(loss) | 53,838,899.20 | 20,982,567.45 |
Including: Investment income from associates and joint ventures | 10,764,226.72 | 2,233,431.23 |
Including: Profits or losses arising from derecognition of financial assets measured at amortized costs | ||
Foreign exchange gains/(losses) | ||
Net exposure to hedging gains/(losses) | ||
Gains/(Losses) on changes in fair value | 13,058,790.16 | -9,828,547.70 |
Credit impairment losses | -12,732,405.68 | -20,628,705.62 |
Asset impairment losses | -9,619,182.89 | -5,061,750.94 |
Losses on disposal of assets | 183,434.85 | 161,334.61 |
Operating profit | 725,077,538.27 | 740,835,126.88 |
Add: Non-operating income | 14,731,647.50 | 4,007,813.38 |
Less: Non-operating expenses | 10,318,936.96 | 5,607,292.43 |
Total profit | 729,490,248.81 | 739,235,647.83 |
Less: Income tax expenses | 95,219,286.13 | 102,953,462.58 |
Net Profit | 634,270,962.68 | 636,282,185.25 |
(1) Classified by continuity of operations | ||
Net profit from continuing operations | 634,270,962.68 | 636,282,185.25 |
Net profit from discontinued operations | ||
(2) Classified by ownership of the equity | ||
Attributable to shareholders of the Company | 663,158,912.96 | 643,988,210.04 |
Minority interests | -28,887,950.28 | -7,706,024.79 |
Other comprehensive income, net of tax | -978,843.60 | 5,457,275.76 |
Other comprehensive income attributable to equity owners of the Company, net of tax | -978,843.60 | 5,457,275.76 |
(1) Other comprehensive income items which will not be reclassified subsequently to profit or loss | -119,546.60 | -4,469,398.03 |
Item | For the nine months ended 30 September 2021 | For the nine months ended 30 September 2020 |
1) Changes arising from remeasurement of defined benefit plan | ||
2) Other comprehensive income that cannot be transferred to profit or loss under the equity method | ||
3) Changes in fair value of investments in other equity instruments | -119,546.60 | -4,469,398.03 |
4) Changes in fair value of an enterprise's own credit risk | ||
5) Others | ||
(2) Other comprehensive income items which will be reclassified subsequently to profit or loss | -859,297.00 | 9,926,673.79 |
1) Other comprehensive income available for transfer to profit or loss under the equity method | ||
2) Changes in fair value of other debt investments | ||
3) Reclassification of financial assets to other comprehensive income | ||
4) Provision for credit impairment of other debt investments | ||
5) Cash flow hedge reserve | ||
Differences on translation of foreign currency financial statements | -859,297.00 | 9,926,673.79 |
Others | ||
Other comprehensive income attributable to minority shareholders, net of tax | ||
Total comprehensive income | 633,292,119.08 | 641,739,461.01 |
Attributable to equity owners of the Company | 662,180,069.36 | 649,445,485.80 |
Attributable to minority interests | -28,887,950.28 | -7,706,024.79 |
Earnings per share: | ||
(1) Basic earnings per share | 0.87 | 0.84 |
(2) Diluted earnings per share | 0.86 | 0.84 |
In the case of a business combination under the same control in the current period, the net income realized by the party being consolidated beforethe combination was: $0.00, and the net income realized by the party being consolidated in the previous period was: $0.00.Legal representative: Ningning Yang Principal in charge of accounting: Jiantiao Qiu Head of accounting department: WenGuo
1.3 CONSOLIDATED CASH FLOW STATEMENTS
Unit: RMB
Item | For the nine months ended 30 September 2021 | For the nine months ended 30 September 2020 |
1. Cash flows from operating activities | ||
Cash received from sales of goods or rendering of services | 7,968,153,431.84 | 8,020,841,116.05 |
Net increase in customer deposits and deposits from banks and other financial institutions | ||
Net decrease in deposits with the Central Bank | ||
Net decrease in deposits with other financial institutions | ||
Cash received from premiums of original insurance contracts | ||
Net cash received from reinsurance operations | ||
Net increase in policyholders' savings and investment funds | ||
Cash received from interest, fee and commission | ||
Net increase in borrowed funds | ||
Net increase in funds for repurchase operations | ||
Net cash received from agency purchases and sales of securities | ||
Refund of taxes and surcharges | 40,000,000.00 |
Item | For the nine months ended 30 September 2021 | For the nine months ended 30 September 2020 |
Cash received relating to other operating activities | 182,723,928.83 | 193,095,668.08 |
Sub-total of cash inflows | 8,190,877,360.67 | 8,213,936,784.13 |
Cash paid for goods and services | 6,256,676,573.58 | 5,254,913,472.81 |
Net increase in loans and advances to customers | ||
Deposits from banks and other financial institutions | ||
Cash payment of benefits from the original insurance contract | ||
Net increase in funds removed | ||
Cash paid for interest, fee and commission | ||
Cash paid as policy dividends | ||
Cash paid to and on behalf of employees | 655,418,395.48 | 608,102,856.12 |
Payments of taxes and surcharges | 468,145,557.23 | 424,150,413.64 |
Cash paid relating to other operating activities | 1,270,450,372.71 | 1,090,244,139.58 |
Sub-total of cash outflows | 8,650,690,899.00 | 7,377,410,882.15 |
Net cash flows from operating activities | -459,813,538.33 | 836,525,901.98 |
2. Cash flows from investing activities | ||
Cash received from disposal of investments | 10,851,423.00 | 3,500,000.00 |
Cash received from returns on investments | 35,090,910.71 | 33,286,658.78 |
Net cash received from disposal of fixed assets, intangible assets and other long-term assets | 150,940,690.59 | 28,432,063.55 |
Net cash received from disposal of subsidiaries and other business units | 0.00 | |
Cash received relating to other investing activities | 2,186,600,000.00 | 1,992,900,000.00 |
Sub-total of cash inflows | 2,383,483,024.30 | 2,058,118,722.33 |
Cash paid to acquire fixed assets, intangible assets and other long-term assets | 69,179,022.89 | 52,198,209.64 |
Cash paid to acquire investments | 23,540,303.16 | 15,202,789.49 |
Net increase in pledged loans | ||
Net cash paid to acquire subsidiaries and other business units | ||
Cash paid relating to other investing activities | 2,276,500,000.00 | 3,303,300,000.00 |
Sub-total of cash outflows | 2,369,219,326.05 | 3,370,700,999.13 |
Net cash flows from investing activities | 14,263,698.25 | -1,312,582,276.80 |
3. Cash flows from financing activities | ||
Cash received from capital contributions | 24,500,000.00 | 24,500,000.00 |
Including: Cash received from capital contributions by minority shareholders of subsidiaries | 24,500,000.00 | 24,500,000.00 |
Cash received from borrowings | ||
Cash received relating to other financing activities | 25,520.00 | 829,053,052.04 |
Sub-total of cash inflows | 24,525,520.00 | 853,553,052.04 |
Cash repayments of borrowings | ||
Cash payments for interest expenses and distribution of dividends or profits | 767,017,000.00 | 444,917,420.00 |
Including: Cash payments for dividends or profit to minority shareholders of subsidiaries | ||
Cash payments relating to other financing activities | 50,136,000.00 | 360,038,000.00 |
Sub-total of cash outflows | 817,153,000.00 | 804,955,420.00 |
Net cash flows from financing activities | -792,627,480.00 | 48,597,632.04 |
4. Effect of foreign exchange rate changes on cash and cash equivalents | -3,022,527.45 | -3,070,481.25 |
Item | For the nine months ended 30 September 2021 | For the nine months ended 30 September 2020 |
5. Net increase in cash and cash equivalents | -1,241,199,847.53 | -430,529,224.03 |
Add: Cash and cash equivalents at the beginning of the period | 1,713,797,184.45 | 1,160,756,361.34 |
6. Cash and cash equivalents at the end of the period | 472,597,336.92 | 730,227,137.31 |
2. Note on accounting adjustments on financial statements
2.1 Financial statement adjustment at the beginning of the initial implementation of new leasing standards from 2021
Whether need to adjust the balance sheet accounts at the beginning of the year
√ Yes □ No
CONSOLIDATED BALANCE SHEET
Unit: RMB
Item | 31 December 2021 | 1 January 2021 | Adjustment |
Current Asset: | |||
Cash at bank and on hand | 1,961,209,198.52 | 1,961,209,198.52 | |
Deposit Reservation for Balance | |||
Lending funds | |||
Trading financial statements | 1,246,680,033.61 | 1,246,680,033.61 | |
Derivative financial assets | |||
Notes receivable | 1,895,450,516.93 | 1,895,450,516.93 | |
Accounts receivable | 212,481,359.50 | 212,481,359.50 | |
Receivables financing | 758,694,902.66 | 758,694,902.66 | |
Prepaid expense | 16,243,257.44 | 16,243,257.44 | |
Premium receivable | |||
Reinsurance accounts receivable | |||
Provision of cession receivable | |||
Other receivables | 168,782,890.42 | 168,782,890.42 | |
Including: interest receivable | |||
Dividends receivable | |||
Redemptory monetary capital for sale | |||
Inventories | 944,928,730.94 | 944,928,730.94 | |
Contract assets | |||
Holding assets for sale | |||
Current portion of non-current assets | |||
Other current asset | 95,244,781.09 | 95,244,781.09 | |
Total current asset | 7,299,715,671.11 | 7,299,715,671.11 | |
Non-current asset: | |||
Disburse loans and advances | |||
Debt Investment | |||
Other debt investments | |||
Long-term receivables | 23,550,500.00 | 23,550,500.00 | |
Long-term equity investments | 182,672,045.70 | 182,672,045.70 | |
Investments in other equity instruments | 261,574,880.56 | 261,574,880.56 | |
Other non-current financial assets | 354,580,966.53 | 354,580,966.53 | |
Investment properties | 91,011,579.14 | 91,011,579.14 |
Item | 31 December 2021 | 1 January 2021 | Adjustment |
Fixed assets | 646,310,542.44 | 646,310,542.44 | |
Construction in progress | 11,012,005.02 | 11,012,005.02 | |
Productive biological asset | |||
Oil and gas assets | |||
Right-of-use assets | 37,016,346.38 | 37,016,346.38 | |
Intangible assets | 124,865,929.90 | 124,865,929.90 | |
Development expenditure | |||
Goodwill | |||
Long-term deferred expenses | 4,273,916.45 | 4,273,916.45 | |
Deferred tax assets | 70,258,654.66 | 70,258,654.66 | |
Other non-current assets | 65,000,000.00 | 65,000,000.00 | |
Total non-current assets | 1,835,111,020.40 | 1,872,127,366.78 | 37,016,346.38 |
TOTAL ASSETS | 9,134,826,691.51 | 9,171,843,037.89 | 37,016,346.38 |
Current liabilities | |||
Short-term borrowings | |||
Customer deposits and deposits from banks | |||
Loans from other banks and other financial institutions | |||
Trading financial liabilities | |||
Derivative financial liabilities | |||
Notes payables | 1,227,524,091.85 | 1,227,524,091.85 | |
Account payables | 2,445,262,708.10 | 2,445,262,708.10 | |
Unearned revenue | 1,301,873.47 | 1,301,873.47 | |
Contract liabilities | 568,863,419.80 | 568,863,419.80 | |
Financial assets sold for repurchase | |||
Deposits from customers and interbank | |||
Receivings from vicariously traded securities | |||
Receivings from vicariously sold securities | |||
Payroll payable | 239,440,390.99 | 239,440,390.99 | |
Taxes payable | 101,144,277.49 | 101,144,277.49 | |
Other payables | 143,383,890.67 | 143,383,890.67 | |
Including interest payable | |||
Dividends payable | |||
Fees and commissions payable | |||
Sub-insurance accounts payable | |||
Holding liabilities for sale | |||
Current portion of non-current liabilities | 10,135,444.87 | 10,135,444.87 | |
Other current liabilities | 72,741,689.90 | 72,741,689.90 | |
Total current liabilities | 4,799,662,342.27 | 4,809,797,787.14 | 10,135,444.87 |
Non-current liabilities | |||
Insurance contract reserves | |||
Long-term borrowings | |||
Bonds receivable | |||
Including: preferred stock | |||
Perpetual bond | |||
Leasing liability | 29,378,835.07 | 29,378,835.07 |
Item | 31 December 2021 | 1 January 2021 | Adjustment |
Long-term payable | |||
Long-term payroll payable | |||
Accrued liabilities | |||
Deferred income | 1,570,000.00 | 1,570,000.00 | |
Deferred tax liabilities | 51,102,590.80 | 51,102,590.80 | |
Other non-current liabilities | |||
Total non-current liabilities | 52,672,590.80 | 82,051,425.87 | 29,378,835.07 |
Total liabilities | 4,852,334,933.07 | 4,891,849,213.01 | 39,514,279.94 |
Shareholders’ equity | |||
Share capital | 767,169,000.00 | 767,169,000.00 | |
Other equity instruments | |||
Including: preferred stock | |||
Perpetual bonds | |||
Capital surplus | 933,782,862.84 | 933,782,862.84 | |
Less: Treasury stock | |||
Other comprehensive income | 21,584,865.16 | 21,584,865.16 | |
Special reserve | |||
Surplus reserve | 397,820,873.71 | 397,820,873.71 | |
General risk reserve | |||
Undistributed profits | 2,163,403,917.39 | 2,160,905,983.83 | -2,497,933.56 |
Total equity attributable to shareholders of the Company | 4,283,761,519.10 | 4,281,263,585.54 | -2,497,933.56 |
Minority interests | -1,269,760.66 | -1,269,760.66 | |
Total shareholders’ equity | 4,282,491,758.44 | 4,279,993,824.88 | -2,497,933.56 |
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | 9,134,826,691.51 | 9,171,843,037.89 | 37,016,346.38 |
Note of accounting adjustmentsThe Ministry of Finance (MOF) revised and issued Enterprise Accounting Standard No. 21 - Leases in December 2018, which is effective fromJanuary 1, 2019 for enterprises listed both domestically and internationally and for enterprises listed outside of China that adopt IFRS or ASBE forpreparing financial statements. For other enterprises that have implemented the ASBE, the standards will be effective from January 1, 2021. TheCompany has changed its accounting policies accordingly.
2.2 Note on Retrospective Adjustment of Comparative Data for Initial Implementation of the New Leasing StandardCommencing from 2021
□ Applicable √ Not applicable
3. Auditing Report
Whether the third quarterly report was audited
□ Yes √ No
Joyoung Co., Ltd. Board of Directors
27 October 2021