Ticker: 002242 Stock Abbreviation: Joyoung
Joyoung Co., Ltd.Interim Report of the Third Quarter 2022
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.
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
| From 1 July 2022 to 30 September 2022 | YoY Change | From 1 January 2022 to 30 September 2022 | YoY Change | |
| Operating revenue (RMB) | 2,214,588,864.01 | -3.23% | 6,925,037,008.62 | -1.52% |
| Net Profit attributable to shareholders of the Company (RMB) | 158,189,969.70 | -25.28% | 504,596,360.46 | -23.91% |
| Net profit attributable to shareholders of the Company before non-recurring gains and losses (RMB) | 159,359,269.72 | -19.32% | 458,387,462.82 | -16.12% |
| Net cash flows from operating activities (RMB) | — | — | 909,813,991.63 | 297.87% |
| Basic earnings per share (RMB / share) | 0.21 | -27.59% | 0.66 | -24.14% |
| Diluted earnings per share (RMB / share) | 0.21 | -25.00% | 0.66 | -23.26% |
| Weighted average return on net assets | 4.18% | Increased by 0.11 percent point | 12.65% | Decreased by 1.72 percent point |
| 30 Sep. 2022 | 31 Dec. 2021 | Flux | ||
| Total assets (RMB) | 7,337,760,383.84 | 8,516,380,670.95 | -13.84% | |
| Net assets attributable to shareholders of the Company (RMB) | 3,693,864,123.75 | 4,263,662,880.72 | -13.36% | |
2. Non-recurring gain and loss items and amounts thereof
Unit: RMB
| Item | From 1 July 2022 to 30 September 2022 | From 1 January 2022 to 30 September 2022 | Note |
| Profit or loss from disposal of non-current assets (including the write off of the provision for impairment of assets) | -109,113.05 | -163,745.12 | |
| 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) | 6,667,876.53 | 80,988,286.87 | Mainly local business support funds |
| 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 | -8,894,560.92 | -28,753,037.92 | Mainly due to changes in fair value of financial products |
| Reversal of provision for impairment of receivables separately tested for impairment | 842,110.63 | 3,389,722.99 | |
| Other non-operating income or expenses except the above items | 263,179.05 | -9,787.28 | |
| Less: Impact of income taxes | -52,379.00 | 8,838,361.28 | |
| Impact of minority interests (after tax) | -8,828.74 | 404,180.62 | |
| Total | -1,169,300.02 | 46,208,897.64 | -- |
Other details of other profit and loss items that meet the definition of non-recurring profit or loss
□ Applicable √ Not applicable
The Company does not have other details of gain or loss items that meet the definition of non-recurring gain or loss.
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
Not Applicable to the Company.
3. Changes in key accounting data and financial indicators and reasons for such changes
Unit: RMB
| Item | 30 September 2022 | 31 December 2021 | Flux | Notes |
| Trading financial assets | 141,637,233.37 | 492,981,291.00 | -71.27% | Mainly due to the decrease in the purchase of financial products during the period |
| Notes receivable | 1,020,073,199.96 | 1,779,656,896.81 | -42.68% | Mainly due to the decrease in notes collections in the current period |
| Prepaid expense | 94,740,433.84 | 21,200,512.71 | 346.88% | Mainly due to the increase in the amount of locking in raw material prices during the period |
| Inventory | 692,622,690.80 | 1,047,863,740.22 | -33.90% | Mainly due to faster inventory turnover in the period |
| Construction in progress | 19,184,369.47 | 83,792,128.99 | -77.10% | Mainly due to the completion of the industrial factory project in the current period |
| Right-of-use assets | 34,131,619.40 | 52,234,702.94 | -34.66% | Mainly due to amortization of right-of-use assets during the period |
| Trading financial liabilities | 4,888,596.83 | 419,546.39 | 1065.21% | Mainly due to changes in the fair value of forward exchange settlements |
| Accounts payable | 1,267,548,205.13 | 2,079,168,330.26 | -39.04% | Mainly due to higher prepayment settlement in the current period |
| Payroll payable | 26,065,324.11 | 168,514,322.91 | -84.53% | Mainly due to bonus payment at the beginning of the period |
| Tax payable | 73,793,450.91 | 118,088,912.25 | -37.51% | Mainly due to payment of prior period tax in the current period |
| Current portion of non-current liabilities | 19,846,593.87 | 31,105,816.48 | -36.20% | Mainly due to amortization of lease liabilities in the current period |
| Lease liabilities | 13,776,350.81 | 22,501,272.82 | -38.78% | |
| Other comprehensive income | 49,230,605.58 | 23,727,045.39 | 107.49% | Mainly due to changes in fair value of investments in other equity instruments |
| Minority interests | 13,871,497.52 | -21,933,241.58 | 163.24% | Mainly due to the increase in minority interests as a result of the recovery of the entire equity interest in SharkNinja (China) during the period |
| Item | From 1 January 2022 to 30 September 2022 | From 1 January 2021 to 30 September 2021 | YoY | Note |
| Financial expense | -59,795,915.38 | -20,735,319.66 | -188.38% | Mainly due to the increase in foreign exchange gain for the period |
| Investment income | 23,586,517.95 | 53,838,899.20 | -56.19% | Mainly due to the decrease in income from financial investments in the current period |
| Gains/(Losses) on changes in fair value | -26,006,918.70 | 13,058,790.16 | -299.15% | Mainly due to loss on fair value of trust in the period |
| Credit impairment losses | -7,807,991.01 | -12,732,405.68 | 38.68% | Mainly due to the decrease in bad debts from accounts receivable during the period |
| Non-operating income | 2,888,754.87 | 14,731,647.50 | -80.39% | Mainly due to the decrease in compensation income during the period |
| Net cash flows from operating activities | 909,813,991.63 | -459,813,538.33 | 297.87% | Mainly due to the recovery of prior period's payment for goods in the current period |
| Net cash flows from investing activities | 226,438,139.96 | 14,263,698.25 | 1487.51% | Mainly due to decrease in wealth management in the current period |
| Net cash flows from financing activities | -1,065,405,931.27 | -792,627,480.00 | -34.41% | Mainly due to the distribution of dividends and share repurchase during 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 | 47,436 | 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 | 5.34% | 40,988,268 | |||
| Central Huijin Investment Ltd. | State-owned corporation | 1.46% | 11,201,233 | |||
| China Universal Asset Management Co.,Ltd - Social Security Fund 423 Portfolio | Others | 0.98% | 7,493,610 | |||
| Basic Pension Insurance Fund Portfolio No. 1001 | Others | 0.91% | 7,001,435 | |||
| Joyoung Co., Ltd.- the First Phase Employee Stock Purchase Plan | Others | 0.78% | 5,980,000 | |||
| Agricultural Bank of China-Caitong Securities Asset Management Consumer Upgrades One-Year Holding Hybrid Securities Investment Fund | Others | 0.30% | 2,267,642 | |||
| National Social Security Fund 101 Portfolio | Others | 0.25% | 1,940,292 | |||
| Guosen Securities Co., Ltd. | State-owned corporation | 0.24% | 1,856,478 | |||
| 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. | 40,988,268 | RMB common stock | 40,988,268 | |||
| Central Huijin Investment Ltd. | 11,201,233 | RMB common stock | 11,201,233 | |||
| China Universal Asset Management Co.,Ltd - Social Security Fund 423 Portfolio | 7,493,610 | RMB common stock | 7,493,610 | |||
| Basic Pension Insurance Fund Portfolio No. 1001 | 7,001,435 | RMB common stock | 7,001,435 | |||
| Joyoung Co., Ltd.- the First Phase Employee Stock Purchase Plan | 5,980,000 | RMB common stock | 5,980,000 | |||
| Agricultural Bank of China-Caitong Securities Asset Management Consumer Upgrades One-Year Holding Hybrid Securities Investment Fund | 2,267,642 | RMB common stock | 2,267,642 | |||
| National Social Security Fund 101 Portfolio | 1,940,292 | RMB common | 1,940,292 | |||
| stock | |||
| Guosen Securities Co., Ltd. | 1,856,478 | RMB common stock | 1,856,478 |
| Related or acting-in-concert parties among shareholders above | In April 2019, the shareholding structure of Bilting Developments Limited changed. MR. Xuning WANG, the actual controller of the Company, became the actual controller 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 common shareholders participating in securities margin trading (if any) | N/A | ||
| Explanation on the existence of repurchase special accounts among the top 10 shareholders (if any) | The number of common shares held in the repurchase special securities account of Joyoung at the end of the reporting period was 12,000,000 shares, representing 1.56% of the total share capital of the Company. | ||
2.Total Number of Preferred Shareholders and TOP 10 Preferred Shareholders and Their Shareholdings
□ Applicable √ Not applicable
III. Other Significant Events
1. Equity distribution
On August 28, 2022, the Company's Fifth Seventeenth Board of Directors considered and approved the profit distribution proposal for thehalf-year of 2022 as follows: based on the total share capital of 767,017,000 shares as of August 30, 2022, less 756,217,000 shares held in theCompany's special securities account for repurchase of 10,800,000 shares, a cash dividend of RMB 5.0 (including tax) per 10 shares will bedistributed to all shareholders. From the announcement date of disclosure to the implementation of the profit distribution, if the share capital of theCompany changes due to share repurchase, exercise of share incentive, repurchase of shares in the special account for employee stock ownershipplan and all or part of the actual grant, the Company intends to implement and maintain the distribution ratio based on the changed share capitaland adjust the total amount of distribution accordingly. On September 28, 2022, the first extraordinary general meeting of the Company in 2022considered and approved the above proposal.
2. Progress of implementation of share repurchase
The Thirteenth Meeting of the Fifth Session of the Board of Directors of the Company and the Second Extraordinary General Meeting ofShareholders in 2021 considered and approved the "Program on the Repurchase of Part of the Shares of the Public" and disclosed the "Report onthe Repurchase of Shares" on November 27, 2021, in which the Company intends to use its own funds not exceeding RMB 360 million torepurchase part of the shares of the public (A shares) of the Company by way of centralized competitive trading at a repurchase price not Therepurchase price will not exceed RMB 30 yuan per share, and the repurchased shares are expected to be not less than (including) 6 million sharesand not more than (including) 12 million shares, accounting for 0.78%-1.56% of the total share capital of the company, and the repurchased shareswill be used to implement the share incentive plan or employee stock ownership plan, and the period of repurchased shares will not exceed 12months from the date of approval by the shareholders' meeting. For details, please refer to the relevant announcements on Juchao InformationWebsite (http://www.cninfo.com.cn) and the "Report on Share Repurchase" (Announcement No. 2021-051) on Securities Times and ChinaSecurities Journal.
The Company's 2021 Annual General Meeting of Shareholders held on April 22, 2022 considered and approved the Proposal on the
Distribution of Profit for the Year 2021 and disclosed the Announcement on the Implementation of the Distribution of Equity for the Year 2021 onApril 29, 2022. According to the Company's Report on Share Repurchase, the maximum price of the Company's share repurchase will be adjustedfrom no more than RMB 30 per share to RMB 29 per share. Based on the upper limit of the repurchase quantity of 12 million shares, therepurchase amount is expected to be approximately RMB 350 million; based on the lower limit of the repurchase quantity of 6 million shares, therepurchase amount is expected to be approximately RMB 170 million, with the specific number of repurchased shares subject to the actual numberof shares repurchased at the expiration of the repurchase period. Other contents remain unchanged. For details, please refer to the Announcementon Adjustment of the Upper Limit of the Repurchase Price(Announcement No.2022-032) published by the Company on Securities Times, ChinaSecurities Journal and Juchao Information Website (http://www.cninfo.com.cn) on June 1, 2022.The Company's 2021 Annual General Meeting of Shareholders held on April 22, 2022 considered and approved the Proposal on theDistribution of Profit for the Year 2021 and disclosed the Announcement on the Implementation of the Distribution of Equity for the Year 2021 onApril 29, 2022. According to the Company's Report on Share Repurchase, the maximum price of the Company's share repurchase will be adjustedfrom no more than RMB 30 per share to RMB 29 per share. Based on the upper limit of the repurchase quantity of 12 million shares, therepurchase amount is expected to be approximately RMB 350 million; based on the lower limit of the repurchase quantity of 6 million shares, therepurchase amount is expected to be approximately RMB 170 million, with the specific number of repurchased shares subject to the actual numberof shares repurchased at the expiration of the repurchase period. Other contents remain unchanged. For details, please refer to the Announcementon Adjustment of the Upper Limit of the Repurchase Price(Announcement No.2022-032) published by the Company on Securities Times, ChinaSecurities Journal and Juchao Information Website (http://www.cninfo.com.cn) on June 1, 2022. As of September 13, 2022, the number of sharesrepurchased by the Company reached the upper limit and the program has been implemented. The Company repurchased a total of 12,000,000shares by centralized competitive bidding through the special securities account for share repurchase, accounting for 1.56% of the Company's totalshare capital as of the implemented date, with the highest transaction price of RMB 19.65 per share and the lowest transaction price of RMB 14.68per share, and the total amount paid was RMB 204,080,639.52 (excluding transaction fees). The repurchase was in compliance with the relevantlaws, regulations, and regulatory documents and was in line with the established repurchase program of the Company.
3. Progress in the implementation of the Employee Stock Purchase Plan
The Company held the Fourteenth Meeting of the Fifth Session of the Board of Directors and the Thirteenth Meeting of the Fifth Session ofthe Supervisory Committee on March 28, 2022 to consider and adopt the “Proposal on the First Phase Employee Stock Purchase Plan (Draft) ofJoyoung and its summary” and other related proposals. The 2021 Annual General Meeting was held on April 22, 2022, at which the “Proposal onthe First Phase Employee Stock Purchase Plan of Joyoung (Draft Revision) and its summary" and other related proposals were considered andapproved. For details, please refer to the relevant announcements of the Company published on the Securities Times, China Securities Journal andJuchao Information Website (http://www.cninfo.com.cn) on 30 March 2022, 2 April 2022 and 23 April 2022.As at 30 September 2022, the Phase I Employee Stock Purchase Plan of the Company had purchased a total of 5,980,000 shares of theCompany's stock in the secondary market by way of centralized competitive bidding transactions, representing 0.78% of the total share capital ofthe Company, with a total transaction amount of RMB89,798,174.70 (excluding transaction costs).As at 18 October 2022, the Phase I Employee Stock Purchase Plan of the Company had completed the purchase of all shares and hadbought a total of 8,000,000 shares of the Company in the secondary market by way of centralized competitive bidding transactions, representing
1.04% of the total share capital of the Company, for a total transaction amount of RMB121,068,322.09 (excluding transaction costs).
IV. Quarterly Financial Statements
1. Financial Statements
1.1 Consolidated Balance Sheet
Prepared by: Joyoung Co., Ltd.
Unit: RMB
| Item | 30 September 2022 | 1 January 2022 |
| Current assets: | ||
| Cash at bank and on hand | 2,118,574,283.32 | 1,986,843,911.48 |
| Deposit reservation for balance | ||
| Lending funds | ||
| Trading financial expense | 141,637,233.37 | 492,981,291.00 |
| Derivative financial assets | ||
| Notes receivable | 1,020,073,199.96 | 1,779,656,896.81 |
| Accounts receivable | 657,469,318.95 | 590,075,982.97 |
| Receivables financing | 449,508,028.86 | 435,489,591.31 |
| Prepaid expense | 94,740,433.84 | 21,200,512.71 |
| Premium receivable | ||
| Reinsurance accounts receivable | ||
| Provision of cession receivable | ||
| Other receivables | 28,085,328.96 | 30,856,543.13 |
| Including: Interest receivable | ||
| Dividend receivable | ||
| Redemptory monetary capital for sale | ||
| Inventories | 692,622,690.80 | 1,047,863,740.22 |
| Contract assets | ||
| Holding assets for sale | ||
| Current portion of non-current liabilities | ||
| Other current assets | 125,610,353.75 | 137,330,241.41 |
| Total current assets | 5,328,320,871.81 | 6,522,298,711.04 |
| Non-current assets: | ||
| Issuance of loans and advances | ||
| Equity expense | ||
| Other equity investments | ||
| Long-term receivables | 16,930,350.00 | 18,630,000.00 |
| Long-term equity investments | 202,575,818.15 | 181,300,306.48 |
| Investments in other equity instruments | 310,786,464.25 | 285,142,540.99 |
| Other non-current financial assets | 441,569,297.80 | 410,605,458.51 |
| Investment properties | 107,187,408.40 | 114,562,354.36 |
| Fixed assets | 628,890,764.93 | 576,556,389.64 |
| Construction in progress | 19,184,369.47 | 83,792,128.99 |
| Productive biological asset | ||
| Oil and gas assets | ||
| Right-of-use assets | 34,131,619.40 | 52,234,702.94 |
| Intangible assets | 121,668,799.31 | 123,086,998.77 |
| Development expenditures | ||
| Goodwill | ||
| Long-term prepaid expenses | 1,656,520.32 | 2,161,827.36 |
| Deferred tax assets | 59,858,100.00 | 81,009,251.87 |
| Other non-current assets | 65,000,000.00 | 65,000,000.00 |
| Total non-current assets | 2,009,439,512.03 | 1,994,081,959.91 |
| TOTAL ASSETS | 7,337,760,383.84 | 8,516,380,670.95 |
| Current liabilities: |
| Item | 30 September 2022 | 1 January 2022 |
| Short-term borrowings | ||
| Loans from the central bank | ||
| Loans from other banks | ||
| Trading financial liabilities | 4,888,596.83 | 419,546.39 |
| Derivative financial liability | ||
| Notes payable | 1,695,416,990.65 | 1,349,089,944.76 |
| Accounts payable | 1,267,548,205.13 | 2,079,168,330.26 |
| Unearned revenue | ||
| Contract liabilities | 293,198,708.50 | 246,315,608.83 |
| Financial assets sold for repurchase | ||
| Deposits from customers and interbank | ||
| Receivings from vicariously traded securities | ||
| Receivings from vicariously sold securities | ||
| Payroll payable | 26,065,324.11 | 168,514,322.91 |
| Tax payable | 73,793,450.91 | 118,088,912.25 |
| Other payables | 123,021,102.96 | 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 | 19,846,593.87 | 31,105,816.48 |
| Other current liabilities | 38,115,832.11 | 31,025,927.59 |
| Total current liabilities | 3,541,894,805.07 | 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 | 13,776,350.81 | 22,501,272.82 |
| Long-term payables | ||
| Long-term payroll payable | ||
| Accrued liabilities | ||
| Deferred income | 8,595,338.50 | 12,191,388.97 |
| Deferred tax liabilities | 65,758,268.19 | 61,271,270.54 |
| Other non-current liabilities | ||
| Total non-current liabilities | 88,129,957.50 | 95,963,932.33 |
| Total liabilities | 3,630,024,762.57 | 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 | 893,529,850.53 | 935,607,513.93 |
| Less: Treasury stock | 293,878,814.22 | |
| Other comprehensive income | 49,230,605.58 | 23,727,045.39 |
| Special reserve | ||
| Surplus reserve | 397,820,873.71 | 397,820,873.71 |
| General risk reserve | ||
| Undistributed profits | 1,880,144,608.15 | 2,139,490,447.69 |
| Total equity attributable to shareholders of the Company | 3,693,864,123.75 | 4,263,662,880.72 |
| Minority interests | 13,871,497.52 | -21,933,241.58 |
| Total shareholders’ equity | 3,707,735,621.27 | 4,241,729,639.14 |
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | 7,337,760,383.84 | 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 NINE MONTHS ENDED 30 SEPTEMBER 2022
Unit: RMB
| Item | For the nine months ended 30 September 2022 | For the nine months ended 30 September 2021 |
| Total revenue | 6,925,037,008.62 | 7,031,953,663.00 |
| Including: Operating revenue | 6,925,037,008.62 | 7,031,953,663.00 |
| Interest income | ||
| Earned Premium | ||
| Handling fees and commission income | ||
| Total operating cost | 6,413,441,215.08 | 6,428,336,085.06 |
| Including: Cost of sales | 4,935,158,506.72 | 4,927,257,842.45 |
| 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 | 32,881,324.70 | 27,956,551.98 |
| Selling and distribution expenses | 1,019,378,838.01 | 1,036,712,663.47 |
| General and administrative expenses | 241,615,214.05 | 230,586,637.26 |
| Research and development expenses | 244,203,246.98 | 226,557,709.56 |
| Financial income | -59,795,915.38 | -20,735,319.66 |
| Including: Interest expenses | 1,436,001.01 | 1,506,250.07 |
| Interest income | 31,900,532.90 | 26,332,788.86 |
| Add: Other income | 81,779,980.16 | 76,730,424.69 |
| Investment income/(loss) | 23,586,517.95 | 53,838,899.20 |
| Including: Investment income from associates and joint ventures | 21,275,511.67 | 10,764,226.72 |
| 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 | -26,006,918.70 | 13,058,790.16 |
| Credit impairment losses | -7,807,991.01 | -12,732,405.68 |
| Asset impairment losses | -9,417,363.71 | -9,619,182.89 |
| Losses on disposal of assets | -88,380.21 | 183,434.85 |
| Operating profit | 573,641,638.02 | 725,077,538.27 |
| Add: Non-operating income | 2,888,754.87 | 14,731,647.50 |
| Less: Non-operating expenses | 7,923,602.00 | 10,318,936.96 |
| Total profit | 568,606,790.89 | 729,490,248.81 |
| Less: Income tax expenses | 70,519,810.73 | 95,219,286.13 |
| Net Profit | 498,086,980.16 | 634,270,962.68 |
| (1) Classified by continuity of operations | ||
| Net profit from continuing operations | 498,086,980.16 | 634,270,962.68 |
| Net profit from discontinued operations |
| Item | For the nine months ended 30 September 2022 | For the nine months ended 30 September 2021 |
| (2) Classified by ownership of the equity | ||
| Attributable to shareholders of the Company | 504,596,360.46 | 663,158,912.96 |
| Minority interests | -6,509,380.30 | -28,887,950.28 |
| Other comprehensive income, net of tax | 25,503,560.19 | -978,843.60 |
| Other comprehensive income attributable to equity owners of the Company, net of tax | 25,503,560.19 | -978,843.60 |
| (1) Other comprehensive income items which will not be reclassified subsequently to profit or loss | 25,643,923.26 | -119,546.60 |
| 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 | 25,643,923.26 | -119,546.60 |
| 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 | -140,363.07 | -859,297.00 |
| 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 | -140,363.07 | -859,297.00 |
| Others | ||
| Other comprehensive income attributable to minority shareholders, net of tax | ||
| Total comprehensive income | 523,590,540.35 | 633,292,119.08 |
| Attributable to equity owners of the Company | 530,099,920.65 | 662,180,069.36 |
| Attributable to minority interests | -6,509,380.30 | -28,887,950.28 |
| Earnings per share: | ||
| (1) Basic earnings per share | 0.66 | 0.87 |
| (2) Diluted earnings per share | 0.66 | 0.86 |
In the case of a business combination under the same control in the current period, the net income realized by the party being consolidatedbefore the 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: Jiangang Kan Head of accounting department: Wen Guo
1.3 CONSOLIDATED CASH FLOW STATEMENTS
Unit: RMB
| Item | For the nine months ended 30 September 2022 | For the nine months ended 30 September 2021 |
| 1. Cash flows from operating activities | ||
| Cash received from sales of goods or rendering of services | 8,467,758,355.02 | 7,968,153,431.84 |
| 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 |
| Item | For the nine months ended 30 September 2022 | For the nine months ended 30 September 2021 |
| 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 | 92,608,032.81 | 40,000,000.00 |
| Cash received relating to other operating activities | 310,871,232.42 | 182,723,928.83 |
| Sub-total of cash inflows | 8,871,237,620.25 | 8,190,877,360.67 |
| Cash paid for goods and services | 5,651,386,813.10 | 6,256,676,573.58 |
| 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 | 562,339,589.68 | 655,418,395.48 |
| Payments of taxes and surcharges | 466,365,214.13 | 468,145,557.23 |
| Cash paid relating to other operating activities | 1,281,332,011.71 | 1,270,450,372.71 |
| Sub-total of cash outflows | 7,961,423,628.62 | 8,650,690,899.00 |
| Net cash flows from operating activities | 909,813,991.63 | -459,813,538.33 |
| 2. Cash flows from investing activities | ||
| Cash received from disposal of investments | 10,028,500.00 | 10,851,423.00 |
| Cash received from returns on investments | 17,624,470.20 | 35,090,910.71 |
| Net cash received from disposal of fixed assets, intangible assets and other long-term assets | 550,000.00 | 150,940,690.59 |
| Net cash received from disposal of subsidiaries and other business units | ||
| Cash received relating to other investing activities | 583,999,999.95 | 2,186,600,000.00 |
| Sub-total of cash inflows | 612,202,970.15 | 2,383,483,024.30 |
| Cash paid to acquire fixed assets, intangible assets and other long-term assets | 108,447,830.19 | 69,179,022.89 |
| Cash paid to acquire investments | 30,000,000.00 | 23,540,303.16 |
| Net increase in pledged loans | ||
| Net cash paid to acquire subsidiaries and other business units | ||
| Cash paid relating to other investing activities | 247,317,000.00 | 2,276,500,000.00 |
| Sub-total of cash outflows | 385,764,830.19 | 2,369,219,326.05 |
| Net cash flows from investing activities | 226,438,139.96 | 14,263,698.25 |
| 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 | ||
| Cash received relating to other financing activities | 25,520.00 | |
| Sub-total of cash inflows | 24,525,520.00 | |
| Cash repayments of borrowings | ||
| Cash payments for interest expenses and distribution of dividends or profits | 764,858,200.00 | 767,017,000.00 |
| Including: Cash payments for dividends or profit to minority shareholders of subsidiaries | ||
| Cash payments relating to other financing activities | 300,547,731.27 | 50,136,000.00 |
| Sub-total of cash outflows | 1,065,405,931.27 | 817,153,000.00 |
| Net cash flows from financing activities | -1,065,405,931.27 | -792,627,480.00 |
| Item | For the nine months ended 30 September 2022 | For the nine months ended 30 September 2021 |
| 4. Effect of foreign exchange rate changes on cash and cash equivalents | 30,257,427.61 | -3,022,527.45 |
| 5. Net increase in cash and cash equivalents | 101,103,627.93 | -1,241,199,847.53 |
| 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 | 1,777,032,162.30 | 472,597,336.92 |
2. Auditing Report
Whether the third quarterly report was audited
□ Yes √ No
Joyoung Co., Ltd. Board of Directors
28 October 2022