Ticker: 002242 Stock Abbreviation: Joyoung
Joyoung Co., Ltd.Interim Report of the Third 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.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, declared thatthe 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
Reasons of Retroactive adjustment or restatement:
Changes in accounting policies
From 1 July 2023 to 30 September 2023 | From 1 July 2022 to 30 September 2022 | YoY Change | From 1 January 2023 to 30 September 2023 | From 1 January 2022 to 30 September 2022 | YoY Change | |||
Before Adjustment | After Adjustment | After Adjustment | Before Adjustment | After Adjustment | After Adjustment | |||
Operating revenues (RMB Yuan) | 2,463,572,007.10 | 2,214,588,864.01 | 2,214,588,864.01 | 11.24% | 6,781,172,561.74 | 6,925,037,008.62 | 6,925,037,008.62 | -2.08% |
Net profits attributable to shareholders of the Company (RMB Yuan) | 116,354,565.00 | 158,189,969.70 | 158,140,929.49 | -26.42% | 363,513,922.70 | 504,596,360.46 | 504,591,109.63 | -27.96% |
Net profits attributable to shareholders of the Company before non-recurring gains and losses (RMB Yuan) | 112,352,748.80 | 159,359,269.72 | 159,310,229.51 | -29.48% | 338,498,908.81 | 458,387,462.82 | 458,382,211.99 | -26.15% |
Net cash flow from operating activities (RMB Yuan) | — | — | — | — | 427,086,101.85 | 909,813,991.63 | 909,813,991.63 | -53.06% |
Basic earnings per share (RMB Yuan /share) | 0.16 | 0.21 | 0.21 | -23.81% | 0.49 | 0.66 | 0.66 | -25.76% |
Diluted earnings per share (RMB Yuan /share) | 0.16 | 0.21 | 0.21 | -23.81% | 0.49 | 0.66 | 0.66 | -25.76% |
Weighted average return on net assets | 3.41% | 4.18% | 4.18% | Decreased by 0.77 percent point | 10.75% | 12.65% | 12.65% | Decreased by 1.90 percent point |
30 September 2023 | 31 December 2022 | Flux | ||||||
Before Adjustment | After Adjustment | After Adjustment | ||||||
Total assets (RMB) | 7,144,806,864.66 | 7,074,762,950.69 | 7,075,278,734.87 | 0.98% | ||||
Net assets attributable to shareholders of the Company (RMB) | 3,467,063,655.79 | 3,313,074,235.88 | 3,313,590,020.06 | 4.63% |
Reasons for changes in accounting policies and correction of accounting errors
Note: The Ministry of Finance issued Accounting Standards Interpretation No. 16 on November 30, 2022, which amends the scope of theexemption from initial recognition of deferred income taxes in Accounting Standards Codification No. 18: Income Taxes (ASC: No. 18). It clarifies thesituations that are not applicable to ASC: No. 18 that exempted from initial recognition of deferred tax liabilities and deferred tax assets: Individualtransactions that are not business merger and that, at the time of the transaction, affect neither accounting profit nor taxable income (or deductiblelosses) and for which the assets and liabilities are initially recognized, result in taxable temporary differences and deductible temporary differences
of equal amounts. The Company implemented this provision effective January 1, 2023 and applied the retrospective adjustment method of accountingfor individual transactions that occurred between the beginning of the earliest period for which the financial statements are presented and December31, 2022, and restated the comparative period financial statements.
2. Non-recurring gain and loss items and amounts thereof
Unit: RMB
Item | From 1 July 2023 to 30 September 2023 | From 1 January 2023 to 30 September 2023 | Note |
Profit or loss from disposal of non-current assets (including the write off of the provision for impairment of assets) | 1,114,632.37 | 15,775,466.95 | Mainly due to gains and losses on disposal of assets |
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) | 4,109,859.88 | 21,375,614.32 | Mainly due to government grants |
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 | -2,792,536.64 | ||
Other non-operating income or expenses except the above items | -33,165.90 | -2,714,609.11 | |
Less: Impact of income taxes | 1,191,166.45 | 6,530,747.76 | |
Impact of minority interests (after tax) | -1,656.30 | 98,173.87 | |
Total | 4,001,816.20 | 25,015,013.89 | -- |
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 2023 | 31 December 2022 | Flux | Notes |
Accounts receivable | 980,653,962.67 | 687,360,521.01 | 42.67% | Mainly as a result of increased sales and longer receivable periods with related parties such as JS Global and SNHK |
Receivables financing | 195,462,097.39 | 427,367,850.03 | -54.26% | Mainly due to the decrease in the receipt of notes during the period |
Prepaid expense | 39,013,292.29 | 15,317,578.78 | 154.70% | Mainly due to the increase in prepayments for pre-order raw materials |
Other current assets | 191,436,763.01 | 135,347,853.88 | 41.44% | Mainly due to the increase in value-added tax deductible during the period |
Right-of-use assets | 41,773,984.06 | 63,214,031.04 | -33.92% | Mainly due to amortization of right-of-use assets during the period |
Notes payable | 1,630,419,356.24 | 1,034,463,227.41 | 57.61% | Mainly due to the increase in payment of the notes during the period |
Payroll payable | 15,968,734.40 | 176,390,700.65 | -90.95% | Mainly due to bonus payments at the beginning of the period |
Tax payable | 87,810,282.57 | 128,468,391.57 | -31.65% | Mainly due to payment of prior-period taxes in the current period |
Other payables | 103,128,523.46 | 147,446,172.97 | -30.06% | Mainly due to the decrease of unrecorded charges payable during the period |
Current portion of non-current liabilities | 21,487,790.02 | 30,821,675.68 | -30.28% | Mainly due to amortization of lease liabilities during the period |
Lease liabilities | 21,394,034.64 | 34,865,866.13 | -38.64% | Mainly due to amortization of lease liabilities during the period |
Item | From 1 January 2023 to 30 September 2023 | From 1 January 2022 to 30 September 2022 | YoY | Note |
Other income | 22,115,084.98 | 81,779,980.16 | -72.96% | Mainly due to the decrease in government grants during the period |
Investing Income | 38,007,947.61 | 23,586,517.95 | 61.14% | Mainly due to the increase in investment income from associates during the period |
Gains/(Losses) on changes in fair value | -2,792,536.64 | -26,006,918.70 | 89.26% | Mainly due to changes in fair value of funds |
Credit impairment losses | -13,734,138.50 | -7,807,991.01 | -75.90% | Mainly due to the increase in bad debts of receivables during the period |
Asset impairment losses | -4,283,143.29 | -9,417,363.71 | 54.52% | Mainly due to the decrease in provision for decline in value of inventories during the period |
Gains on disposal of assets | 16,935,282.17 | -88,380.21 | 19261.85% | Mainly due to the increase in gain on disposal of long-term assets during the period |
Non-operating income | 659,231.65 | 2,888,754.87 | -77.18% | Mainly due to the decrease in forfeiture income during the period |
Non-operating expenses | 4,675,912.72 | 7,923,602.00 | -40.99% | Mainly due to lower expenditure on donations during the period |
Refund of taxes and surcharges | 140,157,462.78 | 92,608,032.81 | 51.34% | Mainly due to the increase in export tax rebates during the period |
Cash received from disposal of investments | 23,412,977.95 | 10,028,500.00 | 133.46% | Mainly due to the disposal of equity interests in associates during the period |
Cash received from returns on investments | 7,823,331.00 | 17,624,470.20 | -55.61% | Mainly due to the decrease in financial income during the period |
Net cash received from disposal offixed assets, intangible assets andother long-term assets
Net cash received from disposal of fixed assets, intangible assets and other long-term assets | 1,933,448.00 | 550,000.00 | 251.54% | Mainly due to the increase in the disposal of fixed assets during the period |
Cash received relating to other investing activities | 215,537,704.52 | 583,999,999.95 | -63.09% | Mainly due to the decrease in structured deposits and wealth management recovered during the period |
Cash paid to acquire fixed assets, intangible assets and other long-term assets | 7,218,962.19 | 108,447,830.19 | -93.34% | Mainly due to higher purchase of fixed assets in the prior period |
Cash payments for interest expenses and distribution of dividends or profits | 228,905,100.00 | 764,858,200.00 | -70.07% | Mainly due to higher profit distribution in the prior period |
Cash payments relating to other financing activities | 45,426,853.65 | 300,547,731.27 | -84.89% | Mainly due to the repurchase of treasury stock in the prior 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 | 39,621 | 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 | |||
BILTING DEVELOPMENTS LIMITED | Foreign corporation | 16.94% | 129,924,090 | |||
Hong Kong Securities Clearing Co., Ltd. | Foreign corporation | 3.89% | 29,843,577 | |||
Joyoung Co., Ltd.- the First Phase Employee Stock Purchase Plan | Others | 2.09% | 16,000,000 | |||
Central Huijin Investment Ltd. | State-owned corporation | 1.46% | 11,201,233 | |||
China Universal Asset Management Co.,Ltd - Social Security Fund 423 Portfolio | 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 | 0.37% | 2,866,878 | |||
CPIC-Dividend-Personal Dividend | Others | 0.36% | 2,752,412 | |||
China Universal Fund-Private Co. Hybrid Portfolio-ICBC | Others | 0.33% | 2,512,133 | |||
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. | 29,843,577 | RMB common stock | 29,843,577 | |||
Joyoung Co., Ltd.- the First Phase Employee Stock Purchase Plan | 16,000,000 | RMB common stock | 16,000,000 | |||
Central Huijin Investment Ltd. | 11,201,233 | RMB common stock | 11,201,233 | |||
China Universal Asset Management Co.,Ltd - Social Security Fund 423 Portfolio | 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 | 2,866,878 | RMB common stock | 2,866,878 | |||
CPIC-Dividend-Personal Dividend | 2,752,412 | RMB common stock | 2,752,412 | |||
China Universal Fund-Private Co. Hybrid Portfolio-ICBC | 2,512,133 | RMB common stock | 2,512,133 | |||
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 | N/A |
Explanation on the existence of repurchase special accounts among the top 10 shareholders | 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 Significant Events
□ Applicable √ Not applicable
IV. Quarterly Financial Statements
1. Financial Statements
1.1 Consolidated Balance Sheet
Prepared by: Joyoung Co., Ltd.
Unit: RMB
Item | 30 September 2023 | 1 January 2023 |
Current assets: | ||
Cash at bank and on hand | 1,866,264,551.50 | 1,569,780,561.99 |
Deposit reservation for balance | ||
Lending funds | ||
Trading financial expense | ||
Derivative financial assets | ||
Notes receivable | 1,153,309,731.61 | 1,397,044,352.08 |
Accounts receivable | 980,653,962.67 | 687,360,521.01 |
Receivables financing | 195,462,097.39 | 427,367,850.03 |
Prepaid expense | 39,013,292.29 | 15,317,578.78 |
Premium receivable | ||
Reinsurance accounts receivable | ||
Provision of cession receivable | ||
Other receivables | 17,590,559.24 | 23,864,332.45 |
Including: Interest receivable | ||
Dividend receivable | ||
Redemptory monetary capital for sale | ||
Inventories | 588,748,707.52 | 680,206,435.03 |
Contract assets | ||
Holding assets for sale | ||
Current portion of non-current liabilities | ||
Other current assets | 191,436,763.01 | 135,347,853.88 |
Item | 30 September 2023 | 1 January 2023 |
Total current assets | 5,032,479,665.23 | 4,936,289,485.25 |
Non-current assets: | ||
Issuance of loans and advances | ||
Equity expense | ||
Other equity investments | ||
Long-term receivables | 7,118,950.00 | 11,628,050.00 |
Long-term equity investments | 233,368,701.48 | 218,019,395.58 |
Investments in other equity instruments | 301,729,004.44 | 293,766,947.76 |
Other non-current financial assets | 526,239,063.29 | 518,498,260.84 |
Investment properties | 97,354,147.66 | 104,729,093.62 |
Fixed assets | 602,314,096.68 | 637,041,742.43 |
Construction in progress | 25,704,229.43 | 24,650,115.63 |
Productive biological asset | ||
Oil and gas assets | ||
Right-of-use assets | 41,773,984.06 | 63,214,031.04 |
Intangible assets | 117,350,815.70 | 120,749,523.33 |
Development expenditures | ||
Goodwill | ||
Long-term prepaid expenses | 1,971,720.18 | 2,035,089.24 |
Deferred tax assets | 92,402,486.51 | 79,657,000.15 |
Other non-current assets | 65,000,000.00 | 65,000,000.00 |
Total non-current assets | 2,112,327,199.43 | 2,138,989,249.62 |
TOTAL ASSETS | 7,144,806,864.66 | 7,075,278,734.87 |
Current liabilities: | ||
Short-term borrowings | ||
Loans from the central bank | ||
Loans from other banks | ||
Trading financial liabilities | ||
Derivative financial liability | ||
Notes payable | 1,630,419,356.24 | 1,034,463,227.41 |
Accounts payable | 1,512,659,599.21 | 1,890,029,094.22 |
Unearned revenue | ||
Contract liabilities | 197,629,212.46 | 235,079,333.95 |
Financial assets sold for repurchase | ||
Deposits from customers and interbank | ||
Receivings from vicariously traded securities | ||
Receivings from vicariously sold securities | ||
Payroll payable | 15,968,734.40 | 176,390,700.65 |
Tax payable | 87,810,282.57 | 128,468,391.57 |
Other payables | 103,128,523.46 | 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 | 21,487,790.02 | 30,821,675.68 |
Other current liabilities | 25,691,797.62 | 30,049,004.28 |
Total current liabilities | 3,594,795,295.98 | 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 | 21,394,034.64 | 34,865,866.13 |
Item | 30 September 2023 | 1 January 2023 |
Long-term payables | ||
Long-term payroll payable | ||
Accrued liabilities | 3,848,998.00 | |
Deferred income | 7,422,152.96 | 8,392,777.94 |
Deferred tax liabilities | 35,667,596.81 | 32,292,528.50 |
Other non-current liabilities | ||
Total non-current liabilities | 68,332,782.41 | 75,551,172.57 |
Total liabilities | 3,663,128,078.39 | 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 | 663,945,117.10 | 652,750,093.75 |
Less: Treasury stock | 68,026,879.84 | 68,026,879.84 |
Other comprehensive income | 47,641,756.36 | 39,971,966.68 |
Special reserve | ||
Surplus reserve | 397,820,873.71 | 397,820,873.71 |
General risk reserve | ||
Undistributed profits | 1,658,665,788.46 | 1,524,056,965.76 |
Total equity attributable to shareholders of the Company | 3,467,063,655.79 | 3,313,590,020.06 |
Minority interests | 14,615,130.48 | 13,389,941.51 |
Total shareholders’ equity | 3,481,678,786.27 | 3,326,979,961.57 |
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | 7,144,806,864.66 | 7,075,278,734.87 |
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 2023
Unit: RMB
Item | For the nine months ended 30 September 2023 | For the nine months ended 30 September 2022(After Adjustment) |
Total revenue | 6,781,172,561.74 | 6,925,037,008.62 |
Including: Operating revenue | 6,781,172,561.74 | 6,925,037,008.62 |
Interest income | ||
Earned Premium | ||
Handling fees and commission income | ||
Total operating cost | 6,425,277,119.84 | 6,413,441,215.08 |
Including: Cost of sales | 5,059,468,353.71 | 4,935,158,506.72 |
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 | 26,471,397.57 | 32,881,324.70 |
Selling and distribution expenses | 892,555,999.96 | 1,019,378,838.01 |
General and administrative expenses | 246,469,168.86 | 241,615,214.05 |
Research and development expenses | 253,378,153.81 | 244,203,246.98 |
Item | For the nine months ended 30 September 2023 | For the nine months ended 30 September 2022(After Adjustment) |
Financial income | -53,065,954.07 | -59,795,915.38 |
Including: Interest expenses | 1,329,106.73 | 1,436,001.01 |
Interest income | 32,331,853.69 | 31,900,532.90 |
Add: Other income | 22,115,084.98 | 81,779,980.16 |
Investment income/(loss) | 38,007,947.61 | 23,586,517.95 |
Including: Investment income from associates and joint ventures | 30,781,830.53 | 21,275,511.67 |
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 | -2,792,536.64 | -26,006,918.70 |
Credit impairment losses | -13,734,138.50 | -7,807,991.01 |
Asset impairment losses | -4,283,143.29 | -9,417,363.71 |
Losses on disposal of assets | 16,935,282.17 | -88,380.21 |
Operating profit | 412,143,938.23 | 573,641,638.02 |
Add: Non-operating income | 659,231.65 | 2,888,754.87 |
Less: Non-operating expenses | 4,675,912.72 | 7,923,602.00 |
Total profit | 408,127,257.16 | 568,606,790.89 |
Less: Income tax expenses | 43,388,145.49 | 70,525,061.56 |
Net Profit | 364,739,111.67 | 498,081,729.33 |
(1) Classified by continuity of operations | ||
Net profit from continuing operations | 364,739,111.67 | 498,081,729.33 |
Net profit from discontinued operations | ||
(2) Classified by ownership of the equity | ||
Attributable to shareholders of the Company | 363,513,922.70 | 504,591,109.63 |
Minority interests | 1,225,188.97 | -6,509,380.30 |
Other comprehensive income, net of tax | 7,669,789.68 | 25,503,560.19 |
Other comprehensive income attributable to equity owners of the Company, net of tax | 7,669,789.68 | 25,503,560.19 |
(1) Other comprehensive income items which will not be reclassified subsequently to profit or loss | 7,962,056.68 | 25,643,923.26 |
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 | 7,962,056.68 | 25,643,923.26 |
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 | -292,267.00 | -140,363.07 |
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 | -292,267.00 | -140,363.07 |
Others | ||
Other comprehensive income attributable to minority shareholders, net of tax | ||
Total comprehensive income | 372,408,901.35 | 523,585,289.52 |
Item | For the nine months ended 30 September 2023 | For the nine months ended 30 September 2022(After Adjustment) |
Attributable to equity owners of the Company | 371,183,712.38 | 530,094,669.82 |
Attributable to minority interests | 1,225,188.97 | -6,509,380.30 |
Earnings per share: | ||
(1) Basic earnings per share | 0.49 | 0.66 |
(2) Diluted earnings per share | 0.49 | 0.66 |
In the case of a business combination under the same control in the current period, the net income realized by the party being consolidated beforethe combination was: $0.00, and the net income realized by the party being consolidated in the previous period was: $0.00.Legal representative: Ningning Yang Principal in charge of accounting: Jiangang Kan Head of accounting department: Wen Guo
1.3 CONSOLIDATED CASH FLOW STATEMENTS
Unit: RMB
Item | For the nine months ended 30 September 2023 | For the nine months ended 30 September 2022 |
1. Cash flows from operating activities | ||
Cash received from sales of goods or rendering of services | 7,713,100,132.01 | 8,467,758,355.02 |
Net increase in customer deposits and deposits from banks and other financial institutions | ||
Net decrease in deposits with the Central Bank | ||
Net decrease in deposits with other financial institutions | ||
Cash received from premiums of original insurance contracts | ||
Net cash received from reinsurance operations | ||
Net increase in policyholders' savings and investment funds | ||
Cash received from interest, fee and commission | ||
Net increase in borrowed funds | ||
Net increase in funds for repurchase operations | ||
Net cash received from agency purchases and sales of securities | ||
Refund of taxes and surcharges | 140,157,462.78 | 92,608,032.81 |
Cash received relating to other operating activities | 301,830,237.95 | 310,871,232.42 |
Sub-total of cash inflows | 8,155,087,832.74 | 8,871,237,620.25 |
Cash paid for goods and services | 5,404,457,828.45 | 5,651,386,813.10 |
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 | 637,852,785.87 | 562,339,589.68 |
Payments of taxes and surcharges | 542,579,834.73 | 466,365,214.13 |
Cash paid relating to other operating activities | 1,143,111,281.84 | 1,281,332,011.71 |
Sub-total of cash outflows | 7,728,001,730.89 | 7,961,423,628.62 |
Net cash flows from operating activities | 427,086,101.85 | 909,813,991.63 |
2. Cash flows from investing activities | ||
Cash received from disposal of investments | 23,412,977.95 | 10,028,500.00 |
Cash received from returns on investments | 7,823,331.00 | 17,624,470.20 |
Net cash received from disposal of fixed assets, intangible assets and other long-term assets | 1,933,448.00 | 550,000.00 |
Item | For the nine months ended 30 September 2023 | For the nine months ended 30 September 2022 |
Net cash received from disposal of subsidiaries and other business units | ||
Cash received relating to other investing activities | 215,537,704.52 | 583,999,999.95 |
Sub-total of cash inflows | 248,707,461.47 | 612,202,970.15 |
Cash paid to acquire fixed assets, intangible assets and other long-term assets | 7,218,962.19 | 108,447,830.19 |
Cash paid to acquire investments | 30,000,000.00 | |
Net increase in pledged loans | ||
Net cash paid to acquire subsidiaries and other business units | ||
Cash paid relating to other investing activities | 208,400,000.00 | 247,317,000.00 |
Sub-total of cash outflows | 215,618,962.19 | 385,764,830.19 |
Net cash flows from investing activities | 33,088,499.28 | 226,438,139.96 |
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 | ||
Sub-total of cash inflows | ||
Cash repayments of borrowings | ||
Cash payments for interest expenses and distribution of dividends or profits | 228,905,100.00 | 764,858,200.00 |
Including: Cash payments for dividends or profit to minority shareholders of subsidiaries | ||
Cash payments relating to other financing activities | 45,426,853.65 | 300,547,731.27 |
Sub-total of cash outflows | 274,331,953.65 | 1,065,405,931.27 |
Net cash flows from financing activities | -274,331,953.65 | -1,065,405,931.27 |
4. Effect of foreign exchange rate changes on cash and cash equivalents | 21,456,401.20 | 30,257,427.61 |
5. Net increase in cash and cash equivalents | 207,299,048.68 | 101,103,627.93 |
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 | 1,392,974,152.26 | 1,777,032,162.30 |
2.Adjustments to items related to financial statements at the beginning of the year of first-timeimplementation of new accounting standards from 2023 onwardsDescription of adjustments:
Affected statement items and amounts:
2.1、Consolidated Balance Sheets:
Unit:RMB
Item | Book value as per previous standard | Accounting policy adjustments | Book value as per the new standard |
31 December 2021 | 1 January 2022 | ||
Deferred tax assets | 81,009,251.87 | 111,899.78 | 81,121,151.65 |
Undistributed profit | 2,139,490,447.69 | 111,899.78 | 2,139,602,347.47 |
Unit:RMB
Item | Book value as per previous standard | Accounting policy adjustments | Book value as per the new standard |
31 December 2022 | 1 January 2023 |
Deferred tax assets | 79,141,215.97 | 515,784.18 | 79,657,000.15 |
Undistributed profit | 1,523,541,181.58 | 515,784.18 | 1,524,056,965.76 |
2.2、Consolidated Income Statement
Unit: RMB
Item | Beginning of 2022 to the end of reporting period before restatement | Accounting policy adjustments | From the beginning of 2022 to the end of restated reporting period |
Income tax expense | 70,519,810.73 | 5,250.83 | 70,525,061.56 |
Net profit attributable to parent company | 504,596,360.46 | -5,250.83 | 504,591,109.63 |
Unit: RMB
Item | Before the 2022 annual restatement | Accounting policy adjustments | After the 2022 annual restatement |
Income tax expense | 60,905,580.94 | -403,884.40 | 60,501,696.54 |
Net profit attributable to parent company | 529,501,433.89 | 403,884.40 | 529,905,318.29 |
2.3、Balance Sheet of Parent Company
Unit: RMB
Item | Book value as per previous standard | Accounting policy adjustments | Book value as per the new standard |
31 December 2021 | 1 January 2022 | ||
Deferred tax assets | 24,095,453.21 | 72,649.52 | 24,168,102.73 |
Undistributed profit | 1,192,996,136.65 | 72,649.52 | 1,193,068,786.17 |
Unit: RMB
Item | Book value as per previous standard | Accounting policy adjustments | Book value as per the new standard | |
31 December 2022 | 1 January 2023 | |||
Deferred tax assets | 33,844,535.85 | 306,374.64 | 34,150,910.49 | |
Undistributed profit | 1,293,726,523.94 | 306,374.64 | 1,294,032,898.58 |
2.4、Income Statement of Parent Company
Unit: RMB
Item | Beginning of 2022 to the end of reporting period before restatement | Accounting policy adjustments | From the beginning of 2022 to the end of restated reporting period |
Income tax expense | 7,448,956.22 | 21,972.97 | 7,470,929.19 |
Net profit attributable to parent company | 650,715,764.23 | -21,972.97 | 650,693,791.26 |
Unit: RMB
Item | Before the 2022 annual restatement | Accounting policy adjustments | After the 2022 annual restatement |
Income tax expense | 34,650,372.06 | -233,725.12 | 34,416,646.94 |
Net profit attributable to parent company | 1,246,181,087.29 | 233,725.12 | 1,246,414,812.41 |
3. Auditing Report
Whether the third quarterly report was audited
□ Yes √ No
Joyoung Co., Ltd. Board of Directors
31 October 2023