Ticker: 002242 Stock Abbreviation: Joyoung
Joyoung Co., Ltd.Interim Report of the First Quarter 2022
Imporant Notice:
Board of Directors, the Supervisory Committee as well as all the directors, supervisors and senior management staff of Joyoung Co., Ltd.(hereinafter referred to as the “Company”) have guaranteed that this Report contains no false record, misleading statement or material omissionand shall be jointly and severally liable for the factuality, accuracy and completeness of the information given in this Report.Ningning YANG, CEO of the company; Jiangang KAN, CFO of the company, and Wen GUO, Chief Accountant of Accounting Institution,declared that the quarterly financial statements should be true, accurate and complete.Whether the first quarterly report was audited
□ Yes √ No
I. Key Financial Data
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 January 2022 to 31 March 2022 | From 1 January 2021 to 31 March 2021 | YoY Change | |
Operating revenue (RMB) | 2,328,527,536.97 | 2,242,694,899.52 | 3.83% |
Net Profit attributable to shareholders of the Company (RMB) | 166,241,068.10 | 180,103,795.09 | -7.70% |
Net profit attributable to shareholders of the Company before non-recurring gains and losses (RMB) | 157,259,318.46 | 161,576,890.20 | -2.67% |
Net cash flows from operating activities (RMB) | 495,669,740.10 | -179,932,954.23 | 375.47% |
Basic earnings per share (RMB / share) | 0.22 | 0.24 | -8.33% |
Diluted earnings per share (RMB / share) | 0.22 | 0.23 | -4.35% |
Weighted average return on net assets | 3.83% | 4.12% | Decreased by 0.29 percent point |
31 March 2022 | 31 December 2021 | Flux | |
Total assets (RMB) | 8,429,014,890.21 | 8,516,380,670.95 | -1.03% |
Net assets attributable to shareholders of the Company (RMB) | 4,426,827,142.84 | 4,263,662,880.72 | 3.83% |
2. Non-recurring gain and loss items and amounts thereof
Unit: RMB
Item | From 1 January 2022 to 31 March 2022 | Note |
Profit or loss from disposal of non-current assets (including the write-off of the provision for impairment of assets) | 107,347.34 | |
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) | 4,119,272.58 | |
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 | 5,267,590.01 | |
Other non-operating income or expenses except the above items | 1,859,142.82 | |
Less: Impact of income taxes | 2,286,402.68 | |
Impact of minority interests (after tax) | 85,200.43 | |
Total | 8,981,749.64 | -- |
Details of other profit and loss items that meet the definition of non-recurring profit or loss
□ Applicable √ Not applicable
Not Applicable to the Company.For non-recurring profit or loss items defined by the Company according to the definitions under the Interpretative Announcement onInformation Disclosure of Companies Offering Securities to the Public No. 1 — Non-recurring Profit or Loss and the non-recurring profitor loss items listed in the Interpretative Announcement on Information Disclosure of Companies Offering Securities 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
Not Applicable to the Company.
3. Major Changes of Main Items in Financial Statements and Financial Indicators within the Report Period, as well as theReasons for the Changes
Item | 31 March 2022 | 31 December 2021 | Flux | Notes |
Receivables financing | 193,437,198.88 | 435,489,591.31 | -55.58% | Mainly due to the endorsement of notes receivable in the period-end. |
Prepaid expense
Prepaid expense | 86,625,375.30 | 21,200,512.71 | 308.60% | Mainly due to prepayments to suppliers to secure the price of materials in the reporting period. |
Other Accounts Receivables | 68,103,812.07 | 30,856,543.13 | 120.71% | Mainly due to unreceived revenue from other operating sections. |
Other Current Liabilities | 93,993,487.44 | 137,330,241.41 | -31.56% | Mainly due to the decrease in retained VAT. |
Long-term prepaid expenses | 704,893.60 | 2,161,827.36 | -67.39% | Mainly due to amortization of prepaid expenses this period. |
Trading Financial Liabilities | 893,981.85 | 419,546.39 | 113.08% | Mainly due to the decline in foreign exchange forward valuation this period. |
Notes Payable | 2,071,386,468.89 | 1,349,089,944.76 | 53.54% | Mainly due to the increase of notes payable issued in the reporting period. |
Accounts Payable | 1,301,098,517.87 | 2,079,168,330.26 | -37.42% | Mainly due to payments to suppliers. |
Payroll payable | 20,736,635.72 | 168,514,322.91 | -87.69% | Mainly due to the yearly bonus payment |
Tax payable | 62,339,038.06 | 118,088,912.25 | -47.21% | Mainly due to tax paid this period |
Lease liabilities | 15,580,543.51 | 22,501,272.82 | -30.76% | Mainly due to the decrease in rent payable. |
Item | From 1 January 2022 to 31 March 2022 | From 1 January 2021 to 31 March 2021 | Flux | Notes |
Taxes and surcharges | 7,637,733.84 | 11,071,089.84 | -31.01% | Mainly due to the decrease in VAT paid. |
Investment Income | 14,890,821.06 | 36,398,003.08 | -59.09% | Mainly due to the decrease in wealth management income and investment income from associated companies. |
Gains/(Losses) on changes infair value
Gains/(Losses) on changes in fair value | -2,493,895.04 | 473,471.91 | -626.73% | Mainly due to change in fair value of fund. |
Asset Impairment Loss | -5,141,480.04 | -7,926,953.08 | 35.14% | Mainly due to decrease in inventory and decrease in related recognized impairment loss. |
Non-operating Income | 802,073.08 | 1,522,071.67 | -47.30% | Mainly due to decrease in penalty and confiscatory income. |
Non-operating Expenses | 789,449.76 | 2,859,266.77 | -72.39% | Mainly due to decrease in donation expenses. |
Refund of taxes and surcharges | 69,849,205.75 | 100.00% | Mainly due to tax refund received this period. | |
Cash received from operating activities | 109,601,494.16 | 55,864,365.17 | 96.19% | Mainly due to the recovery of the note deposit during the period. |
Cash received from disposal ofinvestments
Cash received from disposal of investments | 3,988,500.00 | 600,000.00 | 564.75% | Mainly due to the recovery of equity investment in the current period. |
Net cash from disposal of fixed assets, intangible assets and recovery of other long-term assets | 355,848.48 | 269,259.44 | 32.16% | Mainly due to increase in cash received from asset disposal. |
Cash received relating to other investing activities | 253,999,999.95 | 641,100,000.00 | -60.38% | Mainly due to the decrease of recovery of wealth management and structured deposits. |
Cash paid to acquire investments | 21,000,000.00 | -100.00% | Mainly due to the purchase of equity instruments in the prior period, but not in the current period. |
Cash paid relating to otherinvesting activities
Cash paid relating to other investing activities | 328,000,000.00 | 1,176,000,000.00 | -72.11% | Mainly due to purchase of financial products and structured deposits during the period. |
Cash received from capital contributions | 24,500,000.00 | -100.00% | Mainly due to capital received by SharkNinja JV(China) from minority shareholders in 2021 Q1. | |
Cash payments relating to other financing activities | 4,199,845.36 | 100.00% | Mainly due to the increase in lease expenses for the period. |
II. Shareholders and Shares
1) Total number of common shareholders and number of preferred shareholders whose voting rights wererestored, 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 | 42,257 | 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 | pledged | 103,939,172 | |
Hong Kong Securities Clearing Co., Ltd. | Foreign corporation | 10.44% | 80,062,022 | |||
Central Huijin Investment Ltd. | State-owned corporation | 1.46% | 11,201,233 | |||
Basic Pension Insurance Fund Portfolio No. 1001 | Others | 0.72% | 5,501,435 | |||
China Merchants Bank-Shaanxi Coal Industry Company Limited-Shaanxi Coal Rosefinch New Economy Industry Single Asset Management Plan | Others | 0.42% | 3,210,845 | |||
China Merchants Bank-Rosefinch Hengxin One-Year Holding Hybrid Securities Investment Fund | Others | 0.28% | 2,181,005 | |||
China Merchants Bank-Rosefinch Industry Best Choice Hybrid Securities Investment Fund | Others | 0.27% | 2,044,463 | |||
National Social Security Fund Portfolio No. 1001 | Others | 0.25% | 1,940,292 | |||
Industrial and Commercial Bank of China- Fullgoal Stable Enhanced Bond Investment Fund | Others | 0.25% | 1,895,513 |
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. | 80,062,022 | RMB common stock | 80,062,022 | |
Central Huijin Investment Ltd. | 11,201,233 | RMB common stock | 11,201,233 | |
Basic Pension Insurance Fund Portfolio No. 1001 | 5,501,435 | RMB common stock | 5,501,435 | |
China Merchants Bank-Shaanxi Coal Industry Company Limited-Shaanxi Coal Rosefinch New Economy Industry Single Asset Management Plan | 3,210,845 | RMB common stock | 3,210,845 | |
China Merchants Bank-Rosefinch Hengxin One-Year Holding Hybrid Securities Investment Fund | 2,181,005 | RMB common stock | 2,181,005 | |
China Merchants Bank-Rosefinch Industry Best Choice Hybrid Securities Investment Fund | 2,044,463 | RMB common stock | 2,044,463 | |
National Social Security Fund Portfolio No. 1001 | 1,940,292 | RMB common stock | 1,940,292 | |
Industrial and Commercial Bank of China- Fullgoal Stable Enhanced Bond Investment Fund | 1,895,513 | RMB common stock | 1,895,513 | |
Related or acting-in-concert parties among shareholders above | In April 2019, the shareholding structure of Bilting Developments Limited changed. MR. Xuning WANG, the controlling shareholder of the Company, became the controlling shareholder of Bilting Developments Limited (See Announcement 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 common shareholders participating in securities margin trading (if any) | N/A |
2) Total Number of Preferred Shareholders and TOP 10 Preferred Shareholders and Their Shareholdings
□ Applicable √ Not applicable
III. Other Important Matters
1.Equity distribution
On March 38, 2022, the 14th Session of the Fifth Board of Directors of the Company considered and approved theproposal of profit distribution for the year 2021 as follows: a cash dividend of RMB10.0 per 10 shares (tax inclusive) to allshareholders based on the total shares of 767,017,000 as of December 31, 2021, 0 stock dividend (tax inclusive) and wouldnot convert capital reserves into share capital. On April 22, 2022, the Company's 2021 Annual General Meeting ofShareholders considered and approved the above proposal.
2. Pledged shares
On 24 January 2022, BILTING DEVELOPMENTS LIMITED, a shareholder of the Company, registered 103,939,172pledged shares it held with China Securities Depository and Clearing Corporation Limited as a guarantee for loans, and the
expiration date of the pledge is until the application for the release of the pledge. The number of pledged shares accounted for
13.55% of the total share capital of the Company.
3、Cancellation of part of stock options of the 2021 Stock Option Incentive Plan
On 28 March 2022, the Company held the 14th Session of the Fifth Board of Directors and the 13rd Session of the FifthSession of the Supervisory Committee and considered and approved the Proposal on Cancellation of Part of the StockOptions under the 2021 Stock Option Incentive Plan. The cancellation of part of the stock options has been authorized by theFirst Extraordinary General Meeting of Shareholders in 2021 and does not need to be submitted to the General Meeting of theCompany for consideration. A total of 6,954,000 stock options were required to be canceled, among which:
1)The cancellation of 1.19 million shares triggered by personal departure
12 of the incentive recipients do not have the qualification of incentive recipients as they left the Company. According tothe authorization of the first extraordinary shareholders' meeting of 2021, the board of directors of the company will cancel
1.19 million stock options granted to them but not yet exercised.
2)The cancellation of 5.764 million shares triggered by under-performance
In view of the fact that the performance assessment target at the company level corresponding to the first exerciseperiod of the stock options granted for the first time under this incentive plan has not been reached, 5.764 million stockoptions corresponding to the first exercise period of the incentive recipients (except for the above-mentioned shares triggeredby personal departure) will be canceled by the company,according to the relevant provisions of the "Joyoung Stock OptionIncentive Plan Implementation Assessment Management Measures for 2021", " Shenzhen Stock Exchange Self-regulatoryGuidelines for Listed Companies No. 1 - Business Processing " and "2021 Stock Options Incentive Plan".
When the above cancellation is completed, the total number of incentive recipients for the first grant of the Incentive Planis adjusted from 107 to 95, and the number of stock options not yet exercised for the first grant is adjusted to 8.646 million.IV. Quarterly Financial Statements
1. Financial Statements
1.1 Consolidated Balance Sheet
Prepared by: Joyoung Co., Ltd.
Unit: RMB
Item | 31 March 2022 | 21 December 2021 |
Current assets: | ||
Cash at bank and on hand | 2,562,953,716.45 | 1,986,843,911.48 |
Deposit reservation for balance | ||
Lending funds | ||
Trading financial assets | 496,762,358.15 | 492,981,291.00 |
Derivative financial assets | ||
Notes receivable | 1,383,764,026.98 | 1,779,656,896.81 |
Accounts receivable | 633,098,106.99 | 590,075,982.97 |
Receivables financing | 193,437,198.88 | 435,489,591.31 |
Prepaid expense | 86,625,375.30 | 21,200,512.71 |
Item | 31 March 2022 | 21 December 2021 |
Premium receivable | ||
Reinsurance accounts receivable | ||
Provision of cession receivable | ||
Other receivables | 68,103,812.07 | 30,856,543.13 |
Including: interest receivable | ||
Dividend receivable | ||
Redemptory monetary capital for sale | ||
Inventories | 946,085,712.97 | 1,047,863,740.22 |
Contract assets | ||
Holding assets for sale | ||
Current portion of non-current assets | ||
Other current assets | 93,993,487.44 | 137,330,241.41 |
Total current assets | 6,464,823,795.23 | 6,522,298,711.04 |
Non-current assets: | ||
Issuance of loans and advances | ||
Equity expense | ||
Other equity investments | ||
Long-term receivables | 18,010,350.00 | 18,630,000.00 |
Long-term equity investments | 187,990,869.82 | 181,300,306.48 |
Investments in other equity instruments | 284,168,631.44 | 285,142,540.99 |
Other non-current financial assets | 408,585,998.93 | 410,605,458.51 |
Investment properties | 112,383,155.86 | 114,562,354.36 |
Fixed assets | 563,084,775.58 | 576,556,389.64 |
Construction in progress | 81,338,297.50 | 83,792,128.99 |
Productive biological asset | ||
Oil and gas assets | ||
Right-of-use assets | 43,679,483.96 | 52,234,702.94 |
Intangible assets | 121,620,836.17 | 123,086,998.77 |
Development expenditures | ||
Goodwill | ||
Long-term prepaid expenses | 704,893.60 | 2,161,827.36 |
Deferred tax assets | 77,623,802.12 | 81,009,251.87 |
Other non-current assets | 65,000,000.00 | 65,000,000.00 |
Total non-current assets | 1,964,191,094.98 | 1,994,081,959.91 |
TOTAL ASSETS | 8,429,014,890.21 | 8,516,380,670.95 |
Current liabilities: | ||
Short-term borrowings | ||
Loans from the central bank | ||
Loans from other banks | ||
Trading financial liabilities | 893,981.85 | 419,546.39 |
Derivative financial liability | ||
Notes payable | 2,071,386,468.89 | 1,349,089,944.76 |
Accounts payable | 1,301,098,517.87 | 2,079,168,330.26 |
Unearned revenue | ||
Contract liabilities | 233,361,516.57 | 246,315,608.83 |
Financial assets sold for repurchase |
Item | 31 March 2022 | 21 December 2021 |
Deposits from customers and interbank | ||
Receiving from vicariously traded securities | ||
Receiving from vicariously sold securities | ||
Payroll payable | 20,736,635.72 | 168,514,322.91 |
Tax payable | 62,339,038.06 | 118,088,912.25 |
Other payables | 189,751,350.98 | 154,958,690.01 |
Including: Interest payable | ||
Dividend payable | ||
Handling fees and commissions payable | ||
Dividend payable for reinsurance | ||
Holding liabilities for sale | ||
Current portion of non-current liabilities | 27,371,951.96 | 31,105,816.48 |
Other current liabilities | 30,336,997.15 | 31,025,927.59 |
Total current liabilities | 3,937,276,459.05 | 4,178,687,099.48 |
Non-current liabilities | ||
Reserve fund for insurance contracts | ||
Long-term borrowings | ||
Bonds payable | ||
Including: Preferred stock | ||
Perpetual bonds | ||
Lease liabilities | 15,580,543.51 | 22,501,272.82 |
Long-term payables | ||
Long-term payroll payable | ||
Accrued liabilities | ||
Deferred income | 11,791,180.66 | 12,191,388.97 |
Deferred tax liabilities | 63,036,521.56 | 61,271,270.54 |
Other non-current liabilities | ||
Total non-current liabilities | 90,408,245.73 | 95,963,932.33 |
Total liabilities | 4,027,684,704.78 | 4,274,651,031.81 |
Shareholders’ equity | ||
Share capital | 767,017,000.00 | 767,017,000.00 |
Other equity instruments | ||
Including: Preferred stock | ||
Perpetual bond | ||
Capital surplus | 935,607,513.93 | 935,607,513.93 |
Less: Treasury stock | ||
Other comprehensive income | 20,650,239.41 | 23,727,045.39 |
Special reserve | ||
Surplus reserve | 397,820,873.71 | 397,820,873.71 |
General risk reserve | ||
Undistributed profits | 2,305,731,515.79 | 2,139,490,447.69 |
Total equity attributable to shareholders of the Company | 4,426,827,142.84 | 4,263,662,880.72 |
Minority interests | -25,496,957.41 | -21,933,241.58 |
Total shareholders’ equity | 4,401,330,185.43 | 4,241,729,639.14 |
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | 8,429,014,890.21 | 8,516,380,670.95 |
Legal representative: Ningning Yang Principal in charge of accounting: Jiangang Kan Head of accounting department: Wen Guo
1.2 CONSOLIDATED INCOME STATEMENTS FOR THE THREE MONTHS ENDED 31 MARCH 2022
Unit: RMB
Item | For the three months ended 31 March 2022 | For the three months ended 31 March 2021 |
Total revenue | 2,328,527,536.97 | 2,242,694,899.52 |
Including: Operating revenue | 2,328,527,536.97 | 2,242,694,899.52 |
Interest income | ||
Earned Premium | ||
Handling fees and commission income | ||
Total operating cost | 2,139,608,721.45 | 2,056,676,274.10 |
Including: Cost of sales | 1,708,513,720.94 | 1,537,590,931.01 |
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 | 7,637,733.84 | 11,071,089.84 |
Selling and distribution expenses | 256,877,422.54 | 353,355,791.17 |
General and administrative expenses | 82,842,695.63 | 81,407,040.59 |
Research and development expenses | 88,441,844.05 | 79,022,046.04 |
Financial income | -4,704,695.55 | -5,770,624.55 |
Including: Interest expenses | ||
Interest income | 9,147,598.22 | 7,600,731.10 |
Add: Other income | 4,389,633.19 | 5,076,094.43 |
Investment income/(loss) | 14,890,821.06 | 36,398,003.08 |
Including: Investment income from associates and joint ventures | 6,690,563.34 | 17,462,068.97 |
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 | -2,493,895.04 | 473,471.91 |
Credit impairment losses | -12,330,806.81 | -11,723,977.88 |
Asset impairment losses | -5,141,480.04 | -7,926,953.08 |
Losses on disposal of assets | 134,213.37 | 154,789.31 |
Operating profit | 188,367,301.25 | 208,470,053.19 |
Add: Non-operating income | 802,073.08 | 1,522,071.67 |
Less: Non-operating expenses | 789,449.76 | 2,859,266.77 |
Total profit | 188,379,924.57 | 207,132,858.09 |
Less: Income tax expenses | 25,702,572.30 | 31,754,792.38 |
Net Profit | 162,677,352.27 | 175,378,065.71 |
(1) Classified by continuity of operations | ||
Net profit from continuing operations | 162,677,352.27 | 175,378,065.71 |
Net profit from discontinued operations |
Item | For the three months ended 31 March 2022 | For the three months ended 31 March 2021 |
(2) Classified by ownership of the equity | ||
Attributable to shareholders of the Company | 166,241,068.10 | 180,103,795.09 |
Minority interests | -3,563,715.83 | -4,725,729.38 |
Other comprehensive income, net of tax | -3,076,805.98 | 1,719,973.04 |
Other comprehensive income attributable to equity owners of the Company, net of tax | -3,076,805.98 | 1,719,973.04 |
(1) Other comprehensive income items which will not be reclassified subsequently to profit or loss | -973,909.55 | 1,521,687.63 |
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 | -973,909.55 | 1,521,687.63 |
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 | -2,102,896.43 | 198,285.41 |
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 | -2,102,896.43 | 198,285.41 |
Others | ||
Other comprehensive income attributable to minority shareholders, net of tax | ||
Total comprehensive income | 159,600,546.29 | 177,098,038.75 |
Attributable to equity owners of the Company | 163,164,262.12 | 181,823,768.13 |
Attributable to minority interests | -3,563,715.83 | -4,725,729.38 |
Earnings per share: | ||
(1) Basic earnings per share | 0.22 | 0.24 |
(2) Diluted earnings per share | 0.22 | 0.23 |
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: RMB 0.00, and the net income realized by the party being consolidated in the previous period was: RMB 0.00.Legal representative: Ningning Yang Principal in charge of accounting: Jiangang Kan Head of accounting department: WenGuo
1.3 CONSOLIDATED CASH FLOW STATEMENTS
Unit: RMB
Item | For the three months ended 31 March 2022 | For the three months ended 31 March 2021 |
1. Cash flows from operating activities | ||
Cash received from sales of goods or rendering of services | 3,185,829,510.02 | 2,575,174,677.43 |
Net increase in customer deposits and deposits from banks and other financial institutions |
Item | For the three months ended 31 March 2022 | For the three months ended 31 March 2021 |
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 | 69,849,205.75 | |
Cash received relating to other operating activities | 109,601,494.16 | 55,864,365.17 |
Sub-total of cash inflows | 3,365,280,209.93 | 2,631,039,042.60 |
Cash paid for goods and services | 1,974,413,890.39 | 1,986,732,232.37 |
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 | 316,063,045.71 | 304,477,568.66 |
Payments of taxes and surcharges | 182,206,857.36 | 167,391,566.79 |
Cash paid relating to other operating activities | 396,926,676.37 | 352,370,629.01 |
Sub-total of cash outflows | 2,869,610,469.83 | 2,810,971,996.83 |
Net cash flows from operating activities | 495,669,740.10 | -179,932,954.23 |
2. Cash flows from investing activities | ||
Cash received from disposal of investments | 3,988,500.00 | 600,000.00 |
Cash received from returns on investments | 10,617,165.92 | 11,101,304.71 |
Net cash received from disposal of fixed assets, intangible assets and other long-term assets | 355,848.48 | 269,259.44 |
Net cash received from disposal of subsidiaries and other business units | ||
Cash received relating to other investing activities | 253,999,999.95 | 641,100,000.00 |
Sub-total of cash inflows | 268,961,514.35 | 653,070,564.15 |
Cash paid to acquire fixed assets, intangible assets and other long-term assets | 16,428,905.48 | 15,066,714.96 |
Cash paid to acquire investments | 21,000,000.00 | |
Net increase in pledged loans | ||
Net cash paid to acquire subsidiaries and other business units | ||
Cash paid relating to other investing activities | 328,000,000.00 | 1,176,000,000.00 |
Sub-total of cash outflows | 344,428,905.48 | 1,212,066,714.96 |
Net cash flows from investing activities | -75,467,391.13 | -558,996,150.81 |
3. Cash flows from financing activities | ||
Cash received from capital contributions | 24,500,000.00 | |
Including: Cash received from capital contributions by minority shareholders of subsidiaries | 24,500,000.00 | |
Cash received from borrowings |
Item | For the three months ended 31 March 2022 | For the three months ended 31 March 2021 |
Cash received relating to other financing activities | 50,000,000.00 | 66,400,000.00 |
Sub-total of cash inflows | 50,000,000.00 | 90,900,000.00 |
Cash repayments of borrowings | ||
Cash payments for interest expenses and distribution of dividends or profits | ||
Including: Cash payments for dividends or profit to minority shareholders of subsidiaries | ||
Cash payments relating to other financing activities | 4,199,845.36 | |
Sub-total of cash outflows | 4,199,845.36 | |
Net cash flows from financing activities | 45,800,154.64 | 90,900,000.00 |
4. Effect of foreign exchange rate changes on cash and cash equivalents | -5,454,768.55 | -216,825.39 |
5. Net increase in cash and cash equivalents | 460,547,735.06 | -648,245,930.43 |
Add: Cash and cash equivalents at the beginning of the period | 1,675,928,534.37 | 1,713,797,184.45 |
6. Cash and cash equivalents at the end of the period | 2,136,476,269.43 | 1,065,551,254.02 |
2. Auditing Report
Whether the first quarterly report was audited
□ Yes √ No
The first quarterly report was not audited.
Joyoung Co., Ltd. Board of Directors
30 April 2022