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鲁泰B:2023年第三季度报告(英文) 下载公告
公告日期:2023-10-28

Stock Code: 000726, 200726 Stock Name: LTTC, LTTC-B Announcement No. 2023-086Bond Code: 127016 Bond Name: LTTC Convertible Bonds

LU THAI TEXTILE CO., LTD.THIRD QUARTERLY REPORT 2023Lu Thai Textile Co., Ltd. (hereinafter referred to as the “Company”) and all the members of theCompany’s Board of Directors hereby guarantee that the contents of this Report are true, accurate andcomplete and free of any misrepresentations, misleading statements or material omissions.Important Notes:

1. The Board of Directors, the Supervisory Committee as well as the directors, supervisors and seniormanagement of the Company hereby guarantee that the contents of this Report are true, accurate and completeand free of any misrepresentations, misleading statements or material omissions, and collectively andindividually accept legal responsibility for such contents.

2. The Company’s legal representative, chief accountant and financial manager hereby guarantee that thefinancial statements carried in this Report are true, accurate and complete.

3. Indicate whether the financial statements in this Report have been audited by an independent auditor.

□Yes ? No

I Key Financial Information(I) Key Accounting Data and Financial IndicatorsIndicate whether there is any retrospectively restated datum in the table below.

□Yes ? No

Q3 2023YoY change (%)Q1-Q3 2023YoY change (%)
Operating revenue (RMB)1,502,888,352.91-19.89%4,343,379,615.38-16.58%
Net profit attributable to the listed company’s shareholders (RMB)113,464,972.86-62.43%335,112,971.01-51.85%
Net profit attributable to the listed company’s shareholders before exceptional gains and losses (RMB)110,981,395.05-65.54%302,791,256.99-55.97%
Net cash generated from/used in operating activities (RMB)160,657,427.31-77.96%
Basic earnings per share (RMB/share)0.13-62.86%0.39-51.25%
Diluted earnings per share (RMB/share)0.13-55.17%0.36-47.06%
Weighted average return on equity (%)1.23%-2.25%3.65%-4.60%
30 September 202331 December 2022Change (%)
Total assets (RMB)13,476,324,424.6013,351,097,602.030.94%
Equity attributable to the listed company’s shareholders (RMB)9,273,864,621.659,014,156,872.712.88%

(II) Exceptional Gains and Losses

? Applicable □ Not applicable

Unit: RMB

ItemQ3 2023Q1-Q3 2023Note
Gain or loss on disposal of non-current assets (inclusive of impairment allowance write-offs)-4,612,199.80-4,698,654.99
Government grants through profit or loss (exclusive of government grants continuously given in the Company’s ordinary course of business at fixed quotas or amounts as per the government’s policies and standards)2,942,562.4930,750,901.56
Gain or loss on fair-value changes on held-for-trading financial assets and liabilities & income from disposal of held-for-trading financial assets and liabilities and available-for-sale financial assets (exclusive of the effective portion of hedges that arise in the Company’s ordinary course of business)1,362,912.167,023,017.21
Reverse of provision for impairment of accounts receivable individually conducting impairment test66,352.522,348,289.65
Non-operating income and expense other than the above2,410,405.433,858,991.82
Less: Income tax effects1,018,270.707,950,754.57
Non-controlling interests effects (net of tax)-1,331,815.71-989,923.34
Total2,483,577.8132,321,714.02--

Other items that meet the definition of exceptional gain/loss:

□Applicable ? Not applicable

No such cases in the Reporting Period.Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item listed in the Explanatory AnnouncementNo. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Gain/Loss Items:

□Applicable ? Not applicable

No such cases in the Reporting Period.

(III) Changes in Key Financial Information and Explanation of why? Applicable □ Not applicable

ItemYoY Change (%)Main reason for change
Q3 2023:
Net profit attributable to the listed company’s shareholders-62.43Decreased sales volume of fabric
Net profit attributable to the listed company’s shareholders before exceptional gains and losses-65.54
Basic earnings per share-62.86Decreased net profit in Q3 2023
Diluted earnings per share-55.17
Q1-Q3 2023:
Net profit attributable to the listed company’s shareholders-51.85Decreased sales volume of fabric and increased cost of sales
Net profit attributable to the listed company’s shareholders before exceptional gains and losses-55.97
Net cash generated from/used in operating activities-77.96Decreased proceeds from sale of commodities and rendering of services
Basic earnings per share-51.25Decreased net profit in Q1-Q3 2023
Diluted earnings per share-47.06

II Shareholder Information(I) Numbers of Ordinary Shareholders and Preference Shareholders with Resumed Voting Rights as wellas Holdings of Top 10 Shareholders

Unit: share

Number of ordinary shareholders at the period-end50,588Number of preferred shareholders with resumed voting rights at the period-end (if any)0
Top 10 shareholders
Name of shareholderNature of shareholderShareholding percentageTotal shares heldRestricted shares heldShares in pledge, marked or frozen
StatusShares
Zibo Lucheng Textile Investment Co., Ltd.Domestic non-state-owned corporation16.25%140,353,5830
Tailun (Thailand) Textile Co., Ltd.Foreign corporation13.69%118,232,4000
Central Huijin Assets Management Co., Ltd.State-owned corporation2.30%19,884,1000
National Social Security Fund Portfolio 413Other1.64%14,190,0510
ICBC Credit Suisse Innovation Power Stock Type Securities Investment FundOther1.38%11,910,0000
ICBC Credit Suisse Selected Balanced Mixed Securities Investment FundOther0.84%7,230,0000
FEDERATED HERMES GLOBAL INVESTMENT FD (CAYMAN) MASTER, SPC OBOAFTAO FEDERATED HERMES EMG ASIA EQUITY FD MASTER S.P.Foreign legal person0.72%6,200,1830
Dacheng China Securities Asset Management PlanOther0.60%5,144,2000
Dongfanghong Dingyuan 3-Month Fixed Term Open Mixed Initiating Securities Investment FundOther0.57%4,900,1000
GF China Securities Asset Management PlanOther0.56%4,833,3000
Top 10 unrestricted shareholders
Name of shareholderUnrestricted shares heldShares by type and number
TypeShares
Zibo Lucheng Textile Investment Co., Ltd.140,353,583RMB-denominated ordinary stock140,353,583
Tailun (Thailand) Textile Co., Ltd.118,232,400Domestically listed foreign stock118,232,400
Central Huijin Assets Management Co., Ltd.19,884,100RMB-denominated ordinary stock19,884,100
National Social Security Fund Portfolio 41314,190,051RMB-denominated ordinary stock14,190,051
ICBC Credit Suisse Innovation Power Stock Type Securities Investment Fund11,910,000RMB-denominated ordinary stock11,910,000
ICBC Credit Suisse Selected Balanced Mixed Securities Investment Fund7,230,000RMB-denominated ordinary stock7,230,000
FEDERATED HERMES GLOBAL INVESTMENT FD (CAYMAN) MASTER, SPC OBOAFTAO FEDERATED HERMES EMG ASIA EQUITY FD MASTER S.P.6,200,183Domestically listed foreign stock6,200,183
Dacheng China Securities Asset Management Plan5,144,200RMB-denominated ordinary stock5,144,200
Dongfanghong Dingyuan 3-Month Fixed Term Open Mixed Initiating Securities Investment Fund4,900,100RMB-denominated ordinary stock4,900,100
GF China Securities Asset Management Plan4,833,300RMB-denominated ordinary stock4,833,300
Related or acting-in-concert parties among the shareholders aboveZibo Lucheng Textile Investment Co., Ltd. is the largest shareholder of the Company and the actual controller. Tailun (Thailand) Textile Co., Ltd. is the second largest shareholder as well as sponsor of foreign capital of the Company. All of other shareholders are people holding public A share or B share and the Company is not able to confirm whether there is associated relationship or concerted action among other shareholders.
Top 10 shareholders engaged in securities margin trading (if any)Naught

(II) Number of Preference Shareholders and Shareholdings of Top 10 of Them

□Applicable ? Not applicable

III Other Significant Events? Applicable □ Not applicableThe Company held the First Extraordinary General Meeting of 2023 on 6 July 2023, where the Proposal on Repurchase ofDomestically Listed Foreign Shares (B-shares) was approved, and disclosed the Report on Repurchase of Domestically ListedForeign Shares (B-shares) on 7 July 2023. On 21 August 2023, the Company carried out the first repurchase. As of 30 September2023, the Company had repurchased a total of 20,883,507 B-shares (or 2.42% of the Company’s total share capital) by way ofcentralized bidding. With the highest repurchase price being HKD4.73/share and the lowest being HKD4.53/share, the total paymentfor this repurchase plan was HKD98,007,260.39 (inclusive of commissions and alike).

IV Quarterly Financial Statements(I) Financial Statements

1. Consolidated Balance Sheet

Prepared by Lu Thai Textile Co., Ltd.

30 September 2023

Unit: RMB

Item30 September 20231 January 2023
Current assets:
Monetary assets1,123,765,183.602,067,768,253.97
Held-for-trading financial assets963,968,116.16267,695,159.48
Derivative financial assets
Notes receivable245,128,865.70168,755,715.84
Accounts receivable569,549,816.69660,427,526.19
Receivables financing17,060,057.3411,208,304.78
Prepayments107,659,937.8195,021,598.32
Other receivables31,991,728.9089,855,659.99
Including: Interest receivable
Dividends receivable18,563,298.39
Inventories2,320,596,612.352,107,849,708.33
Other current assets118,480,837.7776,847,903.07
Total current assets5,498,201,156.325,545,429,829.97
Non-current assets:
Long-term equity investments189,776,161.84184,168,625.69
Investments in other equity instruments
Other non-current financial assets89,080,000.00337,110,000.00
Investment property19,803,836.5420,460,935.21
Fixed assets5,601,352,580.335,807,847,850.67
Construction in progress945,643,094.37199,943,501.73
Right-of-use assets479,479,004.42481,420,505.31
Intangible assets345,389,461.66352,889,578.06
Development costs
Goodwill20,563,803.2920,563,803.29
Long-term prepaid expense2,978,651.122,948,981.97
Deferred income tax assets143,640,247.16155,774,523.25
Other non-current assets140,416,427.55242,539,466.88
Total non-current assets7,978,123,268.287,805,667,772.06
Total assets13,476,324,424.6013,351,097,602.03
Current liabilities:
Short-term borrowings579,930,446.20518,946,415.96
Held-for-trading financial liabilities35,492,510.014,276,929.70
Derivative financial liabilities
Notes payable55,450,000.00
Accounts payable220,408,264.53246,588,463.74
Advances from customers
Contract liabilities178,207,218.40206,879,672.53
Employee benefits payable285,580,466.87330,027,159.72
Taxes and levies payable31,675,948.9631,483,442.06
Other payables50,352,521.2083,357,296.71
Including: Interest payable
Dividends payable441,113.64441,113.64
Current portion of non-current liabilities196,288,854.12307,921,837.35
Other current liabilities65,175,380.2266,889,025.17
Total current liabilities1,643,111,610.511,851,820,242.94
Non-current liabilities:
Long-term borrowings261,710,274.16186,431,096.24
Bonds payable1,463,278,946.781,438,162,231.27
Lease liabilities90,863,511.1198,501,303.83
Long-term payables
Long-term employee benefits payable57,417,997.6557,417,997.65
Provisions
Deferred income152,025,077.46159,615,037.36
Deferred income tax liabilities154,682,285.28151,243,432.80
Other non-current liabilities
Total non-current liabilities2,179,978,092.442,091,371,099.15
Total liabilities3,823,089,702.953,943,191,342.09
Owners’ equity:
Share capital863,607,634.00887,633,151.00
Other equity instruments71,383,728.7771,383,830.75
Capital reserves333,751,501.28395,872,135.71
Less: Treasury stock118,417,533.20154,396,198.73
Other comprehensive income167,636,242.15107,628,898.09
Specific reserve1,115,773.65
Surplus reserves1,215,124,336.541,215,124,336.54
General reserve
Retained earnings6,739,662,938.466,490,910,719.35
Total equity attributable to owners of the Company as the parent9,273,864,621.659,014,156,872.71
Non-controlling interests379,370,100.00393,749,387.23
Total owners’ equity9,653,234,721.659,407,906,259.94
Total liabilities and owners’ equity13,476,324,424.6013,351,097,602.03

Legal representative: Liu Zibin The Company’s chief accountant: Zhang KemingThe Company’s financial manager: Zhang Keming

2. Consolidated Income Statement for Q1~Q3

Unit: RMB

ItemQ1~Q3 2023Q1~Q3 2022
1. Revenues4,343,379,615.385,206,422,889.50
Including: Operating revenue4,343,379,615.385,206,422,889.50
2. Costs and expenses3,961,187,521.184,261,512,476.47
Including: Cost of sales3,367,798,201.963,850,817,744.47
Taxes and levies51,710,880.2055,064,913.87
Selling expense99,779,947.0091,979,470.34
Administrative expense282,144,753.70281,331,829.22
Development costs189,722,944.72185,127,476.13
Finance costs-29,969,206.40-202,808,957.56
Including: Interest expense62,229,138.7568,286,145.08
Interest income38,423,491.5037,133,045.19
Add: Other income30,625,776.5642,259,767.72
Return on investment (“-” for loss)55,261,510.68-7,289,966.58
Including: Share of profit or loss of joint ventures and associates5,607,536.15-9,771,373.43
Income from the derecognition of financial assets at amortized cost (“-” for loss)
Exchange gain (“-” for loss)
Net gain on exposure hedges (“-” for loss)
Gain on changes in fair value (“-” for loss)-42,630,957.32-37,118,426.22
Credit impairment loss (“-” for loss)9,173,784.96-7,461,737.20
Asset impairment loss (“-” for loss)-73,776,454.27-148,491,843.12
Asset disposal income (“-” for loss)-4,600,817.871,214,440.32
3. Operating profit (“-” for loss)356,244,936.94788,022,647.95
Add: Non-operating income6,999,573.155,681,260.63
Less: Non-operating expense3,238,418.453,045,887.88
4. Gross profit (“-” for loss)360,006,091.64790,658,020.70
Less: Income tax expense39,272,407.8685,120,535.89
5. Net profit (“-” for net loss)320,733,683.78705,537,484.81
5.1 By operating continuity
5.1.1 Net profit from continuing operations (“-” for net loss)320,733,683.78705,537,484.81
5.1.2 Net profit from discontinued operations (“-” for net loss)
5.2 By ownership
5.2.1 Net profit attributable to shareholders of the Company as the parent (“-” for net loss)335,112,971.01695,966,469.00
5.2.1 Net profit attributable to non-controlling interests (“-” for net loss)-14,379,287.239,571,015.81
6. Other comprehensive income, net of tax60,007,344.06174,235,058.73
Attributable to owners of the Company as the parent60,007,344.06174,235,058.73
6.1 Items that will not be reclassified to profit or loss
6.1.1 Changes caused by remeasurements on defined benefit schemes
6.1.2 Other comprehensive income that will not be reclassified to profit or loss under the equity method
6.1.3 Changes in the fair value of investments in other equity instruments
6.1.4 Changes in the fair value arising from changes in own credit risk
6.1.5 Other
6.2 Items that will be reclassified to profit or loss60,007,344.06174,235,058.73
6.2.1 Other comprehensive income that will be reclassified to profit or loss under the equity method
6.2.2 Changes in the fair value of other debt investments
6.2.3 Other comprehensive income arising from the reclassification of financial assets
6.2.4 Credit impairment allowance for other debt investments
6.2.5 Reserve for cash flow hedges
6.2.6 Differences arising from the translation of foreign currency-denominated financial statements60,321,769.50174,147,637.94
6.2.7 Other-314,425.4487,420.79
Attributable to non-controlling interests
7. Total comprehensive income380,741,027.84879,772,543.54
7.1 Attributable to owners of the Company as the parent395,120,315.07870,201,527.73
7.2 Attributable to non-controlling interests-14,379,287.239,571,015.81
8. Earnings per share
8.1 Basic earnings per share0.390.80
8.2 Diluted earnings per share0.360.68

Where business combinations under common control occurred in the current period, the net profit achieved by the acquirees beforethe combinations was RMB0.00, with the amount for the same period of last year being RMB0.00.Legal representative: Liu Zibin The Company’s chief accountant: Zhang KemingThe Company’s financial manager: Zhang Keming

3. Consolidated Cash Flow Statement for Q1~Q3

Unit: RMB

ItemQ1~Q3 2023Q1~Q3 2022
1. Cash flows from operating activities:
Proceeds from sale of commodities and rendering of services4,082,732,904.054,948,795,995.75
Tax and levy rebates111,908,970.46139,638,698.35
Cash generated from other operating activities88,268,626.5739,167,849.67
Subtotal of cash generated from operating activities4,282,910,501.085,127,602,543.77
Payments for commodities and services2,671,747,269.742,961,997,864.79
Cash paid to and for employees1,220,030,753.311,174,509,559.57
Taxes and levies paid98,333,908.79147,611,564.29
Cash used in other operating activities132,141,141.93114,394,732.80
Subtotal of cash used in operating activities4,122,253,073.774,398,513,721.45
Net cash generated from/used in operating activities160,657,427.31729,088,822.32
2. Cash flows from investing activities:
Proceeds from disinvestment2,435,012,962.1473,323,521.50
Return on investment28,169,612.1530,382,568.02
Net proceeds from the disposal of fixed assets, intangible assets and other long-lived assets5,799,244.296,734,473.05
Net proceeds from the disposal of subsidiaries and other business units
Cash generated from other investing activities85,031,721.3241,312,947.23
Subtotal of cash generated from investing activities2,554,013,539.90151,753,509.80
Payments for the acquisition of fixed assets, intangible assets and other long-lived assets544,637,761.00249,612,464.61
Payments for investments2,947,560,711.64380,000,000.00
Cash used in other investing activities18,025,985.58172,976,756.21
Subtotal of cash used in investing activities3,510,224,458.22802,589,220.82
Net cash generated from/used in investing activities-956,210,918.32-650,835,711.02
3. Cash flows from financing activities:
Capital contributions received19,086,927.80
Including: Capital contributions by non-controlling interests to subsidiaries
Borrowings received998,315,156.401,147,983,807.40
Cash generated from other financing activities
Subtotal of cash generated from financing activities998,315,156.401,167,070,735.20
Repayment of borrowings955,264,496.551,444,841,681.89
Interest and dividends paid107,775,332.8997,315,472.76
Including: Dividends paid by subsidiaries to non-controlling interests
Cash used in other financing activities111,329,581.8466,765,540.66
Subtotal of cash used in financing activities1,174,369,411.281,608,922,695.31
Net cash generated from/used in financing activities-176,054,254.88-441,851,960.11
4. Effect of foreign exchange rates changes on cash and cash equivalents11,527,014.3583,690,400.22
5. Net increase in cash and cash equivalents-960,080,731.54-279,908,448.59
Add: Cash and cash equivalents, beginning of the period1,822,897,270.161,970,006,884.89
6. Cash and cash equivalents, end of the period862,816,538.621,690,098,436.30

(II) Adjustments to Financial Statement Items at the Beginning of the Year of the First Implementation ofthe New Accounting Standards Implemented since 2023

□ Applicable ? Not applicable

(III) Independent Auditor’s ReportIndicate by tick mark whether the financial statements above have been audited by an independent auditor.

□Yes ? No

These financial statements have not been audited by such an auditor.

Board of Director

Lu Thai Textile Co., Ltd.28 October 2023


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