Ticker: 002242 Stock Abbreviation: Joyoung
Joyoung Co., Ltd.Interim Report of the First Quarter 2023
The Company and all members of the Board of Directors have guaranteed that the information disclosed is true, accurateand complete, and contains no false record, misleading statements or material omissions.
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 omission andshall be jointly and severally liable 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, declared that the quarterly financial statementsshould be true, accurate and complete.In case of any discrepancy, the Chinese version of the report shall prevail.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
| From 1 January 2023 to 31 March 2023 | From 1 January 2022 to 31 March 2022 | YoY Change | |
| Operating revenue (RMB) | 1,892,190,788.93 | 2,328,527,536.97 | -18.74% |
| Net Profit attributable to shareholders of the Company (RMB) | 121,389,403.14 | 166,241,068.10 | -26.98% |
| Net profit attributable to shareholders of the Company before non-recurring gains and losses (RMB) | 116,958,852.23 | 157,259,318.46 | -25.63% |
| Net cash flows from operating activities (RMB) | 306,900,520.10 | 495,669,740.10 | -38.08% |
| Basic earnings per share (RMB / share) | 0.16 | 0.22 | -27.27% |
| Diluted earnings per share (RMB / share) | 0.16 | 0.22 | -27.27% |
| Weighted average return on net assets | 3.64% | 3.83% | Decrease by 0.19pct. |
| 31 March 2023 | 31 December 2022 | Flux | |
| Total assets (RMB) | 7,299,838,075.42 | 7,074,762,950.69 | 3.18% |
| Net assets attributable to shareholders of the Company (RMB) | 3,439,064,123.03 | 3,313,074,235.88 | 3.80% |
2. Non-recurring gain and loss items and amounts thereof
Unit: RMB
| Item | From 1 January 2023 to 31 March | Note |
| 2023 | ||
| Profit or loss from disposal of non-current assets (including the write-off of the provision for impairment of assets) | -81,010.28 | |
| 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) | 3,043,441.97 | |
| 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 | 2,218,988.14 | |
| Other non-operating income or expenses except the above items | 172,908.62 | |
| Less: Impact of income taxes | 922,667.23 | |
| Impact of minority interests (after tax) | 1,110.31 | |
| Total | 4,430,550.91 | -- |
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 asthe Reasons for the Changes
Unit: RMB
| Item | 31 March 2023 | 31 December 2022 | Flux | Notes |
| Cash at bank and on hand | 2,170,363,147.36 | 1,569,780,561.99 | 38.26% | Mainly due to the decrease in the cash to invest. |
| Prepaid expense | 36,629,555.84 | 15,317,578.78 | 139.13% | Mainly due to the increase in the amount of locking in raw material prices during the period |
| Other receivables | 42,348,822.21 | 23,864,332.45 | 77.46% | Mainly due to the increase in provisional payments |
| Receivables financing | 150,581,055.93 | 427,367,850.03 | -64.77% | Mainly due to the increase in realization of notes receivable |
| Long-term prepaid expenses | 937,532.12 | 2,035,089.24 | -53.93% | Mainly due to amortization of expenses during the period |
| Notes payable | 1,793,914,414.22 | 1,034,463,227.41 | 73.42% | Mainly due to the increase in the use of notes for payment during the period |
| Payroll payable | 20,550,500.93 | 176,390,700.65 | -88.35% | Mainly due to year-end bonus payment |
| Tax payable | 67,045,860.41 | 128,468,391.57 | -47.81% | Mainly due to tax payment during the period |
| Item | From 1 January 2023 to 31 March 2023 | From 1 January 2022 to 31 March 2022 | YoY Change | Note |
| Financial income | -9,254,867.05 | -4,704,695.55 | -96.72% | Mainly due to the increase in interest income for the period |
| Gains/(Losses) on changes in fair value | 2,218,988.14 | -2,493,895.04 | 188.98% | Mainly due to changes in fair value of funds |
| Credit impairment losses | -7,439,938.44 | -12,330,806.81 | 39.66% | Mainly due to the decrease in bad debts of accounts receivable and other receivables during the period |
| Cash received relating to other operating activities | 180,223,418.77 | 109,601,494.16 | 64.44% | Mainly due to the increase in recovery of deposits on notes during the period |
| Cash paid relating to other operating activities | 531,102,598.57 | 396,926,676.37 | 33.80% | Mainly due to the increase in the deposit paid for the note during the period |
| Cash received from disposal of investments | 787,500.00 | 3,988,500.00 | -80.26% | Mainly due to the decrease in the disposal of associates during the period |
| Cash paid to acquire fixed assets, intangible assets and other long-term assets | 682,784.29 | 16,428,905.48 | -95.84% | Mainly due to the decrease in the purchase of long-term assets during the period |
| Cash paid relating to other investing activities | 151,800,000.00 | 328,000,000.00 | -53.72% | Mainly due to the decrease in the purchase of large-denomination certificates of deposit during the period |
| Cash payments relating to other financing activities | 10,077,203.92 | 4,199,845.36 | 139.94% | Mainly due to the increase in lease expenses during the period |
II. Shareholders and Shares
1) Total number of common shareholders and number of preferred shareholders whose voting rights were restored,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 | 34,678 | 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 | 5.57% | 42,740,471 | |||
| Joyoung ESOP Plan (Phase 1) | Others | 2.09% | 16,000,000 | |||
| Central Huijin Investment Ltd. | State-owned corporation | 1.46% | 11,201,233 | |||
| China Universal Fund - Social Security Fund Portfolio No.423 | Others | 1.09% | 8,363,110 | |||
| Basic Pension Insurance Fund Portfolio No. 1001 | Others | 0.65% | 5,001,435 | |||
| Hongde Fund -Ruixing Three-Year Holding Hybrid Portfolio-CMB | Others | 0.44% | 3,353,862 | |||
| PICC P&C -Traditional - General Insurance Products | Others | 0.40% | 3,040,240 | |||
| PICC Life -Dividend - Individual Insurance Dividend | Others | 0.34% | 2,640,400 | |||
| 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. | 42,740,471 | RMB common stock | 42,740,471 | |
| Joyoung ESOP Plan (Phase 1) | 16,000,000 | RMB common stock | 16,000,000 | |
| Central Huijin Investment Ltd. | 11,201,233 | RMB common stock | 11,201,233 | |
| China Universal Fund - Social Security Fund Portfolio No.423 | 8,363,110 | RMB common stock | 8,363,110 | |
| Basic Pension Insurance Fund Portfolio No. 1001 | 5,001,435 | RMB common stock | 5,001,435 | |
| Hongde Fund -Ruixing Three-Year Holding Hybrid Portfolio-CMB | 3,353,862 | RMB common stock | 3,353,862 | |
| PICC P&C -Traditional - General Insurance Products | 3,040,240 | RMB common stock | 3,040,240 | |
| PICC Life - Dividend - Individual Insurance Dividend | 2,640,400 | RMB common stock | 2,640,400 | |
| 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 | |||
| Notes on the existence of repurchase specialized accounts among the top 10 shareholders (if any) | The number of ordinary shares held in the repurchase specialized account of Joyoung Co., Ltd. at the end of the reporting period was 4,000,000 shares, accounting for 0.52% 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 Important MattersIV. Quarterly Financial Statements
1. Financial Statements
1.1 Consolidated Balance Sheet
Prepared by: Joyoung Co., Ltd.
Unit: RMB
| Item | 31 March 2023 | 31 December 2022 |
| Current assets: | ||
| Cash at bank and on hand | 2,170,363,147.36 | 1,569,780,561.99 |
| Deposit reservation for balance | ||
| Lending funds | ||
| Trading financial assets | ||
| Derivative financial assets | ||
| Notes receivable | 1,108,172,271.77 | 1,397,044,352.08 |
| Accounts receivable | 754,128,238.08 | 687,360,521.01 |
| Receivables financing | 150,581,055.93 | 427,367,850.03 |
| Item | 31 March 2023 | 31 December 2022 |
| Prepaid expense | 36,629,555.84 | 15,317,578.78 |
| Premium receivable | ||
| Reinsurance accounts receivable | ||
| Provision of cession receivable | ||
| Other receivables | 42,348,822.21 | 23,864,332.45 |
| Including: interest receivable | ||
| Dividend receivable | ||
| Redemptory monetary capital for sale | ||
| Inventories | 741,461,726.59 | 680,206,435.03 |
| Contract assets | ||
| Holding assets for sale | ||
| Current portion of non-current assets | ||
| Other current assets | 171,241,600.85 | 135,347,853.88 |
| Total current assets | 5,174,926,418.63 | 4,936,289,485.25 |
| Non-current assets: | ||
| Issuance of loans and advances | ||
| Equity expense | ||
| Other equity investments | ||
| Long-term receivables | 11,076,800.00 | 11,628,050.00 |
| Long-term equity investments | 227,835,810.84 | 218,019,395.58 |
| Investments in other equity instruments | 304,162,016.62 | 293,766,947.76 |
| Other non-current financial assets | 519,424,591.37 | 518,498,260.84 |
| Investment properties | 102,270,778.30 | 104,729,093.62 |
| Fixed assets | 623,433,714.80 | 637,041,742.43 |
| Construction in progress | 20,465,869.86 | 24,650,115.63 |
| Productive biological asset | ||
| Oil and gas assets | ||
| Right-of-use assets | 53,136,827.12 | 63,214,031.04 |
| Intangible assets | 119,918,781.69 | 120,749,523.33 |
| Development expenditures | ||
| Goodwill | ||
| Long-term prepaid expenses | 937,532.12 | 2,035,089.24 |
| Deferred tax assets | 77,248,934.07 | 79,141,215.97 |
| Other non-current assets | 65,000,000.00 | 65,000,000.00 |
| Total non-current assets | 2,124,911,656.79 | 2,138,473,465.44 |
| TOTAL ASSETS | 7,299,838,075.42 | 7,074,762,950.69 |
| Current liabilities: | ||
| Short-term borrowings | ||
| Loans from the central bank | ||
| Loans from other banks | ||
| Trading financial liabilities | ||
| Derivative financial liability | ||
| Notes payable | 1,793,914,414.22 | 1,034,463,227.41 |
| Accounts payable | 1,435,664,971.99 | 1,890,029,094.22 |
| Unearned revenue | ||
| Contract liabilities | 275,303,980.55 | 235,079,333.95 |
| Item | 31 March 2023 | 31 December 2022 |
| Financial assets sold for repurchase | ||
| Deposits from customers and interbank | ||
| Receiving from vicariously traded securities | ||
| Receiving from vicariously sold securities | ||
| Payroll payable | 20,550,500.93 | 176,390,700.65 |
| Tax payable | 67,045,860.41 | 128,468,391.57 |
| Other payables | 120,537,669.87 | 147,446,172.97 |
| Including: Interest payable | ||
| Dividend payable | ||
| Handling fees and commissions payable | ||
| Dividend payable for reinsurance | ||
| Holding liabilities for sale | ||
| Current portion of non-current liabilities | 20,618,794.47 | 30,821,675.68 |
| Other current liabilities | 35,789,517.47 | 30,049,004.28 |
| Total current liabilities | 3,769,425,709.91 | 3,672,747,600.73 |
| Non-current liabilities | ||
| Reserve fund for insurance contracts | ||
| Long-term borrowings | ||
| Bonds payable | ||
| Including: Preferred stock | ||
| Perpetual bonds | ||
| Lease liabilities | 36,699,849.29 | 34,865,866.13 |
| Long-term payables | ||
| Long-term payroll payable | ||
| Accrued liabilities | ||
| Deferred income | 8,069,236.28 | 8,392,777.94 |
| Deferred tax liabilities | 32,458,801.51 | 32,292,528.50 |
| Other non-current liabilities | ||
| Total non-current liabilities | 77,227,887.08 | 75,551,172.57 |
| Total liabilities | 3,846,653,596.99 | 3,748,298,773.30 |
| Shareholders’ equity | ||
| Share capital | 767,017,000.00 | 767,017,000.00 |
| Other equity instruments | ||
| Including: Preferred stock | ||
| Perpetual bond | ||
| Capital surplus | 652,750,093.75 | 652,750,093.75 |
| Less: Treasury stock | 68,026,879.84 | 68,026,879.84 |
| Other comprehensive income | 44,572,450.69 | 39,971,966.68 |
| Special reserve | ||
| Surplus reserve | 397,820,873.71 | 397,820,873.71 |
| General risk reserve | ||
| Undistributed profits | 1,644,930,584.72 | 1,523,541,181.58 |
| Total equity attributable to shareholders of the Company | 3,439,064,123.03 | 3,313,074,235.88 |
| Minority interests | 14,120,355.40 | 13,389,941.51 |
| Total shareholders’ equity | 3,453,184,478.43 | 3,326,464,177.39 |
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | 7,299,838,075.42 | 7,074,762,950.69 |
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 2023
Unit: RMB
| Item | For the three months ended 31 March 2023 | For the three months ended 31 March 2022 |
| Total revenue | 1,892,190,788.93 | 2,328,527,536.97 |
| Including: Operating revenue | 1,892,190,788.93 | 2,328,527,536.97 |
| Interest income | ||
| Earned Premium | ||
| Handling fees and commission income | ||
| Total operating cost | 1,759,501,873.53 | 2,139,608,721.45 |
| Including: Cost of sales | 1,364,823,521.76 | 1,708,513,720.94 |
| 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 | 5,170,590.35 | 7,637,733.84 |
| Selling and distribution expenses | 236,603,248.25 | 256,877,422.54 |
| General and administrative expenses | 77,548,043.15 | 82,842,695.63 |
| Research and development expenses | 84,611,337.07 | 88,441,844.05 |
| Financial income | -9,254,867.05 | -4,704,695.55 |
| Including: Interest expenses | 1,047,287.10 | |
| Interest income | 10,229,723.97 | 9,147,598.22 |
| Add: Other income | 3,447,033.97 | 4,389,633.19 |
| Investment income/(loss) | 9,816,415.26 | 14,890,821.06 |
| Including: Investment income from associates and joint ventures | 9,816,415.26 | 6,690,563.34 |
| 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 | 2,218,988.14 | -2,493,895.04 |
| Credit impairment losses | -7,439,938.44 | -12,330,806.81 |
| Asset impairment losses | -3,037,437.60 | -5,141,480.04 |
| Losses on disposal of assets | 134,213.37 | |
| Operating profit | 137,693,976.73 | 188,367,301.25 |
| Add: Non-operating income | 89,715.70 | 802,073.08 |
| Less: Non-operating expenses | 401,409.36 | 789,449.76 |
| Total profit | 137,382,283.07 | 188,379,924.57 |
| Less: Income tax expenses | 15,262,466.04 | 25,702,572.30 |
| Net Profit | 122,119,817.03 | 162,677,352.27 |
| (1) Classified by continuity of operations | ||
| Net profit from continuing operations | 122,119,817.03 | 162,677,352.27 |
| Net profit from discontinued operations |
| Item | For the three months ended 31 March 2023 | For the three months ended 31 March 2022 |
| (2) Classified by ownership of the equity | ||
| Attributable to shareholders of the Company | 121,389,403.14 | 166,241,068.10 |
| Minority interests | 730,413.89 | -3,563,715.83 |
| Other comprehensive income, net of tax | 4,600,484.01 | -3,076,805.98 |
| Other comprehensive income attributable to equity owners of the Company, net of tax | 4,600,484.01 | -3,076,805.98 |
| (1) Other comprehensive income items which will not be reclassified subsequently to profit or loss | 10,395,068.86 | -973,909.55 |
| 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 | 10,395,068.86 | -973,909.55 |
| 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 | -5,794,584.85 | -2,102,896.43 |
| 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 | ||
| 6) Exchange differences on translating foreign operations | -5,794,584.85 | -2,102,896.43 |
| 7) Others | ||
| Other comprehensive income attributable to minority shareholders, net of tax | ||
| Total comprehensive income | 126,720,301.04 | 159,600,546.29 |
| Attributable to equity owners of the Company | 125,989,887.15 | 163,164,262.12 |
| Attributable to minority interests | 730,413.89 | -3,563,715.83 |
| Earnings per share: | ||
| (1) Basic earnings per share | 0.16 | 0.22 |
| (2) Diluted earnings per share | 0.16 | 0.22 |
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: Wen Guo
1.3 CONSOLIDATED CASH FLOW STATEMENTS
Unit: RMB
| Item | For the three months ended 31 March 2023 | For the three months ended 31 March 2022 |
| 1. Cash flows from operating activities | ||
| Cash received from sales of goods or rendering of services | 2,653,000,428.22 | 3,185,829,510.02 |
| Net increase in customer deposits and deposits from banks and other financial institutions |
| Item | For the three months ended 31 March 2023 | For the three months ended 31 March 2022 |
| 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 | 41,862,838.07 | 69,849,205.75 |
| Cash received relating to other operating activities | 180,223,418.77 | 109,601,494.16 |
| Sub-total of cash inflows | 2,875,086,685.06 | 3,365,280,209.93 |
| Cash paid for goods and services | 1,511,475,350.80 | 1,974,413,890.39 |
| 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 | 301,526,891.51 | 316,063,045.71 |
| Payments of taxes and surcharges | 224,081,324.08 | 182,206,857.36 |
| Cash paid relating to other operating activities | 531,102,598.57 | 396,926,676.37 |
| Sub-total of cash outflows | 2,568,186,164.96 | 2,869,610,469.83 |
| Net cash flows from operating activities | 306,900,520.10 | 495,669,740.10 |
| 2. Cash flows from investing activities | ||
| Cash received from disposal of investments | 787,500.00 | 3,988,500.00 |
| Cash received from returns on investments | 10,617,165.92 | |
| Net cash received from disposal of fixed assets, intangible assets and other long-term assets | 355,848.48 | |
| Net cash received from disposal of subsidiaries and other business units | ||
| Cash received relating to other investing activities | 215,000,000.00 | 253,999,999.95 |
| Sub-total of cash inflows | 215,787,500.00 | 268,961,514.35 |
| Cash paid to acquire fixed assets, intangible assets and other long-term assets | 682,784.29 | 16,428,905.48 |
| Cash paid to acquire investments | ||
| Net increase in pledged loans | ||
| Net cash paid to acquire subsidiaries and other business units | ||
| Cash paid relating to other investing activities | 151,800,000.00 | 328,000,000.00 |
| Sub-total of cash outflows | 152,482,784.29 | 344,428,905.48 |
| Net cash flows from investing activities | 63,304,715.71 | -75,467,391.13 |
| 3. Cash flows from financing activities | ||
| Cash received from capital contributions | ||
| Including: Cash received from capital contributions by minority shareholders of subsidiaries | ||
| Cash received from borrowings | ||
| Cash received relating to other financing activities | 50,000,000.00 |
| Item | For the three months ended 31 March 2023 | For the three months ended 31 March 2022 |
| Sub-total of cash inflows | 50,000,000.00 | |
| 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 | 10,077,203.92 | 4,199,845.36 |
| Sub-total of cash outflows | 10,077,203.92 | 4,199,845.36 |
| Net cash flows from financing activities | -10,077,203.92 | 45,800,154.64 |
| 4. Effect of foreign exchange rate changes on cash and cash equivalents | -4,979,669.84 | -5,454,768.55 |
| 5. Net increase in cash and cash equivalents | 355,148,362.05 | 460,547,735.06 |
| Add: Cash and cash equivalents at the beginning of the period | 1,185,675,103.58 | 1,675,928,534.37 |
| 6. Cash and cash equivalents at the end of the period | 1,540,823,465.63 | 2,136,476,269.43 |
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
26 April 2023