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深华发B:2021年第一季度报告全文--英文版 下载公告
公告日期:2022-04-26

First Quarterly Report 2021

Shenzhen Zhongheng Huafa Co., Ltd.

First Quarterly Report 2021

April 2021

First Quarterly Report 2021

Section I. Important NotesBoard of Directors and the Supervisory Committee of Shenzhen ZhonghengHuafa Co., Ltd (hereinafter referred to as the Company) and its directors,supervisors and senior executives should guarantee the reality, accuracy andcompletion of the quarterly report, there are no any fictitious statements,misleading statements or important omissions carried in this report, and shalltake legal responsibilities, individual and/or joint.All Directors are attended the Board Meeting for Quarterly Report deliberation.Li Zhongqiu, person in charge of the Company, Yang Bin, person in charger ofaccounting works and Wu Ai’jie, person in charger of accounting organ(accounting officer) hereby confirm that the Financial Statement of thisQuarterly Report is authentic, accurate and complete.

First Quarterly Report 2021

Section II. Basic situation of the CompanyI. Main accounting data and financial indexesWhether it has retroactive adjustment or re-statement on previous accounting data

□Yes √ No

Current periodAt the same period of last yearChanges of this period over same period of last year
Operating income (RMB)190,936,203.5787,800,584.55117.47%
Net profit attributable to shareholders of the listed company (RMB)5,557,677.31-400,741.171,489.06%
Net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses (RMB)5,476,703.89-208,179.522,735.02%
Net cash flow arising from operating activities (RMB)-5,125,776.387,931,308.59-164.63%
Basic earnings per share (RMB/Share)0.0197-0.00141,507.14%
Diluted earnings per share (RMB/Share)0.0197-0.00141,507.14%
Weighted average ROE1.64%-0.12%1.76%
At the end of the reporting periodAt the end of last yearChanges of this period-end over same period-end of last year
Total assets (RMB)637,523,241.97627,779,621.061.55%
Net assets attributable to shareholder of listed company (RMB)341,806,414.60336,248,737.291.65%

Items and amount of non-recurring gains and losses

√ Applicable □ Not applicable

In RMB

ItemAmount from year-begin to period-endNote
Gains/losses from the disposal of non-current asset (including the write-off that accrued for impairment of assets)-6,163.53
Governmental subsidy reckoned into current gains/losses (not including the subsidy enjoyed in quota or ration according to national standards, which are closely relevant to enterprise’s business)6,000.00
Gain or loss on the investment or management of assets71,186.44

First Quarterly Report 2021

Other non-operating income and expenditure except for the aforementioned items10,677.58
Less: impact on income tax727.07
Total80,973.42--

Concerning the extraordinary profit (gain)/loss defined by Q&A Announcement No.1 on Information Disclosure for CompaniesOffering Their Securities to the Public --- Extraordinary Profit/loss, and the items defined as recurring profit (gain)/loss according tothe lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering TheirSecurities to the Public --- Extraordinary Profit/loss, explain reasons

□ Applicable √ Not applicable

In reporting period, the Company has no particular about items defined as recurring profit (gain)/loss according to the lists ofextraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities tothe Public --- Extraordinary Profit/lossII. Total number of shareholders at the end of this report period and top ten shareholders

1. Total number of common shareholders at the end of this report period and top ten common shareholders

In shares

Total common stock shareholders in reporting period-end22,456Total preference shareholders with voting rights recovered at end of reporting period (if applicable)0
Top ten shareholders
Shareholder’s nameNature of shareholderProportion of shares heldAmount of shares heldAmount of restricted shares heldNumber of share pledged/frozen
State of shareAmount
Wuhan Zhongheng GroupDomestic non-state-owned legal person42.13%119,289,8940Pledged116,100,000
Frozen119,289,894
SEG (HONG KONG) CO., LTD.Overseas legal person5.85%16,569,5600Pledged0
Frozen0
GOOD HOPE CORNER INVESTMENTS LTD.Overseas legal person2.50%7,072,0000Pledged0
Frozen0
Changjiang Securities Brokerage (Hongkong) Co., Ltd.Overseas legal person1.89%5,355,2490Pledged0
Frozen0

First Quarterly Report 2021

Guoyuan Securities Brokerage (Hong Kong) LimitedOverseas legal person1.37%3,870,1170Pledged0
Frozen0
Li ZhongqiuOverseas nature person1.00%2,830,0000Pledged0
Frozen0
China Merchants Securities Hong Kong Co., Ltd.State-owned legal person0.79%2,230,6080Pledged0
Frozen0
LI SHERYN ZHAN MINGOverseas nature person0.51%1,446,1000Pledged0
Frozen0
Shengyin Investment Co., Ltd.Overseas legal person0.50%1,408,6000Pledged0
Frozen0
# Xu XinfenDomestic nature person0.45%1,288,0000Pledged0
Frozen0
Top ten shareholders with unrestricted shares held
Shareholder’s nameAmount of unrestricted shares heldType of shares
TypeAmount
Wuhan Zhongheng Group119,289,894RMB common share119,289,894
SEG (HONG KONG) CO., LTD.16,569,560Domestically listed foreign shares16,569,560
GOOD HOPE CORNER INVESTMENTS LTD.7,072,000Domestically listed foreign shares7,072,000
Changjiang Securities Brokerage (Hongkong) Co., Ltd.5,355,249Domestically listed foreign shares5,355,249
Guoyuan Securities Brokerage (Hong Kong) Limited3,870,117Domestically listed foreign shares3,870,117
Li Zhongqiu2,830,000Domestically listed foreign shares2,830,000
China Merchants Securities Hong Kong Co., Ltd.2,230,608Domestically listed foreign shares2,230,608

First Quarterly Report 2021

LI SHERYN ZHAN MING1,446,100Domestically listed foreign shares1,446,100
Shengyin Investment Co., Ltd.1,408,600Domestically listed foreign shares1,408,600
# Xu Xinfen1,288,000RMB common share1,288,000
Explanation on associated relationship among the aforesaid shareholdersAmong the top ten shareholders, Li Zhongqiu is the actual controller of Wuhan Zhongheng New Science & Technology Industrial Group Co., Ltd. and is a party acting in concert.Shengyin Investment Co., Ltd. is an overseas wholly-owned subsidiary of Wuhan Zhongheng group. The Company neither knew whether there exists associated relationship among the other shareholders, nor they belong to consistent actors that are prescribed in Measures for the Administration of Disclosure of Shareholder Equity Changes of Listed Companies.
Explanation on top 10 common shareholders involving margin business (if applicable)N/A

Whether top ten common shareholders or top ten common shareholders with un-restrict shares held have a buy-back agreementdealing in reporting period

□ Yes √ No

The top ten common shareholders or top ten common shareholders with un-restrict shares held of the Company have no buy-backagreement dealing in reporting period.

2. Total shareholders with preferred stock held and shares held by top ten shareholders with preferredstock held

□ Applicable √ Not applicable

First Quarterly Report 2021

Section III. Significant EventsI. Particulars about material changes in items of main accounting statement and financialindex and explanations of reasons

√Applicable □Not applicable

ItemMarch 31, 2021January 1, 2021Y-o-y changesReasons of changes

Other receivables

Other receivables2,060,681.114,466,949.96-53.87%Decrease in current accounts
Inventory103,732,453.5770,502,773.5247.13%Stocking in this period
Other current assets1,129,263.494,255,643.19-73.46%The tax to be deducted is deducted for the current period.
Long-term prepaid expenses19,361.3577,445.31-75.00%Cloud service fee amortization
Short-term loans20,921,296.0012,527,808.0067.00%Short-term bank loans were increased in the current period.
Contract liabilities171,293.92287,140.66-40.34%The deposit received in advance has decreased during the period.
Employee compensation payable3,106,406.385,737,366.59-45.86%The prepaid wages and expenses are paid in the current period

Other payables

Other payables18,556,536.8827,608,281.01-32.79%Decrease in current accounts
Interest payable63,086.8826,335.66139.55%Short-term loans increased in the current period.
ItemJanuary to March 2021January to March 2020Y-o-y changesReasons of changes

Operating income

Operating income190,936,203.5787,800,584.55117.47%Increase in orders this period
Operating cost160,692,426.3373,672,446.25118.12%Increase in orders this period

Sales expense

Sales expense9,604,962.163,448,537.85178.52%Increase in orders this period
R&D expenses1,990,208.94908,285.77119.12%Increased in R&D investment in this period

Other income

Other income119,520.0064,770.0084.53%Amortization of deferred income for the current period
Investment income71,186.4437,415.0290.26%Increase in financial income during the current period
Non-operating income19,464.755,492.44254.39%Government subsidy income from the previous period
Non-operating expenses8,950.00263,835.56-96.61%Liquidated damages occurred in the previous period

First Quarterly Report 2021

Income tax expense1,360,875.84-85,032.71-1700.41%Increase in profit for the period
ItemJanuary to March 2021January to March 2020Y-o-y changesReasons of changes

Cash received fromthe sale of goodsand the provision oflabor services

Cash received from the sale of goods and the provision of labor services118,847,638.9286,584,529.5837.26%Increase in sales collection in this period
Cash paid for purchasing goods and receiving labor services90,764,568.4156,760,923.4159.91%Increase in orders this period
Cash paid to and for employees18,034,045.238,467,600.61112.98%Increase in orders this period
Taxes paid8,114,109.922,351,100.26245.12%Increase in orders this period
Cash received from investment income71,186.4437,415.0290.26%Margin interest increased in this period
Net cash received from the disposal of fixed assets, intangible assets and other long-term assets13,000.0091,000.00-85.71%Disposal of old equipment in the previous period

Cash paid for thepurchase andconstruction of fixedassets, intangibleassets and otherlong-term assets

Cash paid for the purchase and construction of fixed assets, intangible assets and other long-term assets1,624,675.50467,211.58247.74%Purchase production equipment in this period
Other cash paid relating to investing activities-25,000,000.00-100.00%Bank wealth management decreased in this period
Cash received from loans20,710,525.006,725,056.80207.96%Increase in short-term loans

Other cash paidrelating to financingactivities

Other cash paid relating to financing activities6,408,886.53-Increase acceptance margin in this period
Influence on cash and cash equivalents due to fluctuation in exchange rate-124,286.4132,336.78484.35%The impact of exchange rate fluctuations in the current period

First Quarterly Report 2021

II. Analysis and explanation of significant events and their influence and solutions

√ Applicable □Not applicable

(i) The Company signed Asset Exchange Contract with Wuhan Zhongheng New Science & Technology IndustrialGroup Co., Ltd (hereinafter referred to as Wuhan Zhongheng Group) on 29 April 2009 (details were referred to inthe announcement dated 30 April 2009), and pursuant to the contract, since part of the assets of the Company(namely two parcel of industrial lands located at Huafa road, Gongming town, Guangming new district, Shenzhen(the property certificate No. were SFDZ No.7226760 and SFDZ No.7226763, No. of parcels were A627-005andA627-007, and the aggregate area was 48,200 sq.m) were the lands listed in the first batch of plan for 2010Shenzhen urbanization unit planning preparation plan. For promotion of such urbanization project and jointcooperation, the Company has not completed the transfer procedures in respect of the aforesaid land.

The Company convoked the first extraordinary meeting of the Board in 2015 on February 16, 2015 and the firstextraordinary general meeting of the Board in 2015 on March 4, 2015, which considered and approved the“Motion on promoting and implementing the urban renewal project for the renewal units of Huafa area atGongming street, Guangming new district, Shenzhen”, specified that the Company and Wuhan Zhongheng Groupshall obtain the corresponding compensatory consideration for removal from the respectively owned project plotsand the respectively contributed and constructed above-ground buildings before the land development, it isestimated that the compensatory consideration obtained by the Company accounts for 50.5% of the totalconsideration and Wuhan Zhongheng Group accounts for 49.5% by calculation.

The sixth extraordinary meeting of the board of directors in 2015 and the third extraordinary general meeting of2015 have considered and adopted the “Proposal on the project promotion and implementation of urban renewaland the progress of related transactions of ‘the updated units at Huafa Area, Gong Ming Street, Guangming NewDistrict, Shenzhen’”, the company has signed the “Agreement on the cooperation of urban renewal project of theupdated units at Huafa Area, Gong Ming Street, Guangming New District, Shenzhen”, “Contract for thecooperative venture of reconstruction project for Huafa Industrial Park, Gong Ming Street, Guangming NewDistrict” and “Agreement on housing acquisition and removal compensation and resettlement” with WuhanWuhan Zhongheng Group, Shenzhen Vanke Real Estate Co., Ltd. (hereinafter referred to as “Shenzhen Vanke”),and Shenzhen Vanke Guangming Real Estate Development Co., Ltd. (hereinafter referred to as “VankeGuangming”).

On 12 September 2016, Shenzhen Vanke applied for arbitration in respect of “Agreement on the cooperation ofurban renewal project of the updated units at Huafa Area, Gong Ming Street, Guangming New District, Shenzhen”against the Company and Wuhan Zhongheng Group. Shenzhen Court of International Arbitration (SCIA) hasgiven a ruling in August 2017. On August 29, 2018, the court accepted the compulsory execution application ofShenzhen Vanke. In October 2019, as a number of outsiders filed an “execution objection” and applied for “noexecution” to Shenzhen Intermediate People’s Court, the Shenzhen Intermediate People’s Court ruled to terminatethe enforcement procedure on March 20, 2020. If the “execution objection” and “no execution” proposed by

First Quarterly Report 2021

outsiders are rejected according to law, Shenzhen Vanke may continue to apply to the Shenzhen IntermediatePeople’s Court to resume execution. In mid April 2020, Heng semiconductor sued the company in Shenzhenintermediate people's court, requiring the company to transfer the above two pieces of land and compensate for theeconomic loss of 52 million yuan. As of the disclosure date of this report, the case has not yet beenconcluded.Progress of the case found more in the Notices released on Juchao website dated 14 Sept. 2016, 1 Nov.2016, 16 Nov. 2016, on 18 Feb. 2017, 24 March 2017, 25 April 2017, 1 July 2017, 18 August 2017, 9 Feb. 2018,25 Aug. 2018 and 7 Sept. 2018 respectively.

(ii) On 31 December 2015, the 88,750,047 shares held by Wuhan Zhongheng Group, are pledge to ChinaMerchants Securities Assets Co., Ltd. with due date of 31 December 2016. On 1 Feb. 2016, Wuhan ZhonghengGroup pledge the 27,349,953 shares held to China Merchants Securities Assets Co., Ltd. with due date of 31December 2016. The above-mentioned pledged shares are deferred by Wuhan Zhongheng Group; pledge expiredon 31 December 2017. The trading day for repurchase put off to the date when pledge actually removed. Till endof this period released, controlling shareholder still not removed the pledge and the Company has apply by letter,relevant Notice of Presentment on Stock Pledge from Controlling Shareholder was released. Found more in noticereleased on Juchao website date 2 Feb. 2018.

Wuhan Zhongheng Group received the first-instance judgment of Guangdong Higher People’s Court to the“pledged securities repurchase dispute” case sued by China Merchants Securities Asset Management Co., Ltd. inMarch 2021. Wuhan Zhongheng Group refused to accept the judgment and has appealed to the Supreme People'sCourt, the judgment of first instance has not yet taken effect. For details, please refer to the companyannouncement issued by the company on www.cninfo.com.cn on March 19, 2021.

(iii) The controlling shareholder Wuhan Zhongheng Group holds 119,289,894 shares of the Company’ stock,accounting for 42.13% of the total share capital of the Company, of which 116,489,894 shares were judicially frozenby Shenzhen Intermediate People's Court (hereinafter referred to as "Shenzhen Intermediate Court") on September27, 2016, which were frozen again by the Shenzhen Intermediate People's Court on December 14, 2018, with afrozen period of 36 months; the remaining 2,800,000 shares were frozen by the Shenzhen Intermediate People'sCourt on May 29, 2019, and were frozen again by the Higher People’s Court of Guangdong Province on July 5,2019. For details, please refer to the company’s announcements published on Juchao Website dated October 27,2016, January 11, 2019, May 31, 2019 and August 7, 2019.

(iv) On September 29, 2016, the company and its controlling shareholder, Wuhan Zhongheng Group, signed the“Agency Contract” with V&T Law Firm. On October 8, 2016, the three parties also signed the “SupplementalAgreement for Agency Contract”, it was agreed that V&T acted as an agent for the company and WuhanZhongheng Group to deal with the arbitration case with Shenzhen Vanke. After losing the lawsuit, due todifferences in the payment of attorney fees, V&T sued our company and Wuhan Zhongheng Group to theShenzhen Court of International Arbitration, and applied to the court to seize a bank account under our company’s

First Quarterly Report 2021

name and part of our company dormitories, please refer to “Other Announcements on the Progress InvolvingLitigation and Arbitration” (Announcement Numbers: 2018-43, 2019-02) released by our company on JuchaoWebsite dated November 14, 2018 and March 6, 2019. 02. In November 2019, the Shenzhen Court ofInternational Arbitration ruled that the company and Wuhan Zhongheng Group paid the corresponding fees.According to the “Agency Contract” and “Supplemental Agreement for Agency Contract” signed by the threeparties, the loss of the arbitrament in this case was borne by Wuhan Zhongheng Group, so it had no impact on thecompany’s profit. For details, see the company’s “Other Announcements on the Progress Involving Litigation andArbitration” (Announcement No.: 2019-34) released on Juchao Website dated November 25, 2019.

Summary of important issuesDisclosure dateInterim report disclosure index

Implementation progress of shares buy-back

□ Applicable √ Not applicable

Implementation progress of the reduction of repurchases shares by centralized bidding

□ Applicable √ Not applicable

III. Commitments completed in Period and those without completed till end of the Periodfrom actual controller, shareholders, related parties, purchaser and companies

□ Applicable √ Not applicable

The Company has no commitments completed in Period and those without completed till end of the Period from actual controller,shareholders, related parties, purchaser and companies.IV. Financial asset investment

1. Securities investment

□ Applicable √ Not applicable

No security investment in the Period.

2. Derivative investment

□ Applicable √ Not applicable

No derivative investment in the Period.

V. Progress of investment projects with raised funds

□ Applicable √ Not applicable

VI. Prediction of business performance from January – June 2021Estimation on accumulative net profit from the beginning of the year to the end of next report period to be loss probably or thewarning of its material change compared with the corresponding period of the last year and explanation on reason

First Quarterly Report 2021

□ Applicable √ Not applicable

VII. Major contracts for daily operations

□ Applicable √ Not applicable

VIII. Trust financing

□ Applicable √ Not applicable

No trust financing in the Period.IX. Guarantee outside against the regulation

□Applicable √Not applicable

The Company had no guarantee outside against the regulation in the period.X. Non-operational fund occupation from controlling shareholders and its related party

□ Applicable √ Not applicable

The Company had no non-operational fund occupation form controlling shareholders and its related party in the period.XI. Registration form for receiving research, communication and interview in the reportperiod

√ Applicable □ Not applicable

DateReception locationMethodType of investorsObjectMain content and information providedIndex for the interview and research
January 5, 2021Office of the BOD locates in 6/F, Huafa BuildingTelephone communicationIndividualIndividualUnderstand the company's production and operation situation, litigation progress and the progress of urban renewal projectsN/A

First Quarterly Report 2021

Section IV. Financial StatementI. Financial statement

1. Consolidate balance sheet

Prepared by Shenzhen Zhongheng Huafa Co., Ltd.

March 31, 2021

In RMB

ItemMarch 31, 2021March 31, 2020
Current assets:
Monetary fund57,688,251.5860,968,053.58
Settlement provisions
Capital lent
Trading financial assets
Derivative financial assets
Note receivable9,506,829.3420,240,464.79
Account receivable141,260,234.64128,063,911.79
Receivable financing9,727,239.7210,057,385.11
Accounts paid in advance35,287,786.0939,643,255.11
Insurance receivable
Reinsurance receivables
Contract reserve of reinsurance receivable
Other account receivable2,060,681.114,466,949.96
Including: Interest receivable
Dividend receivable
Buying back the sale of financial assets
Inventories103,732,453.5770,166,013.49
Contractual assets
Assets held for sale
Non-current asset due within one year
Other current assets1,129,263.494,255,643.19

First Quarterly Report 2021

Total current assets360,392,739.54337,861,677.02
Non-current assets:
Loans and payments on behalf
Debt investment
Other debt investment
Long-term account receivable
Long-term equity investment
Investment in other equity instrument
Other non-current financial assets
Investment real estate46,792,579.7047,224,662.27
Fixed assets181,745,798.39193,605,444.53
Construction in progress740,000.00740,000.00
Productive biological asset
Oil and gas asset
Right-of-use assets
Intangible assets40,383,028.8640,820,657.80
Expense on Research and Development
Goodwill
Long-term expenses to be apportioned19,361.3577,445.31
Deferred income tax asset7,383,734.137,383,734.13
Other non-current asset66,000.0066,000.00
Total non-current asset277,130,502.43289,917,944.04
Total assets637,523,241.97627,779,621.06
Current liabilities:
Short-term loans20,921,296.0012,527,808.00
Loan from central bank
Capital borrowed
Trading financial liability
Derivative financial liability
Note payable37,089,784.0537,416,381.20
Account payable120,547,983.8098,318,239.88
Accounts received in advance

First Quarterly Report 2021

Contractual liability171,293.92287,140.66
Selling financial asset of repurchase
Absorbing deposit and interbank deposit
Security trading of agency
Security sales of agency
Wage payable3,106,406.385,737,366.59
Taxes payable11,965,705.7814,204,642.62
Other account payable18,556,536.8827,608,281.01
Including: Interest payable63,086.8826,335.66
Dividend payable
Commission charge and commission payable
Reinsurance payable
Liability held for sale
Non-current liabilities due within one year12,000,000.0012,000,000.00
Other current liabilities9,369,289.5618,322,972.81
Total current liabilities233,728,296.37226,127,947.79
Non-current liabilities:
Insurance contract reserve
Long-term loans58,000,000.0061,000,000.00
Bonds payable
Including: Preferred stock
Perpetual capital securities
Lease liability
Long-term account payable
Long-term wages payable
Accrual liability64,411.0064,411.00
Deferred income3,924,120.004,043,640.00
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities61,988,531.0065,108,051.00

First Quarterly Report 2021

Total liabilities295,716,827.37291,530,883.77
Owner’s equity:
Share capital283,161,227.00283,161,227.00
Other equity instrument
Including: Preferred stock
Perpetual capital securities
Capital public reserve146,577,771.50146,577,771.50
Less: Inventory shares
Other comprehensive income
Reasonable reserve
Surplus public reserve77,391,593.2577,391,593.25
Provision of general risk
Retained profit-165,324,177.15-170,881,854.46
Total owner’ s equity attributable to parent company341,806,414.60336,248,737.29
Minority interests
Total owner’ s equity341,806,414.60336,248,737.29
Total liabilities and owner’ s equity637,523,241.97627,779,621.06

Legal Representative: Li ZhongqiuPerson in charge of accounting works: Yang BinPerson in charge of accounting institute: Wu Aijie

2. Balance Sheet of Parent Company

In RMB

ItemMarch 31, 2021March 31, 2020
Current assets:
Monetary funds1,575,886.56966,379.17
Trading financial assets
Derivative financial assets
Note receivable
Account receivable
Receivable financing

First Quarterly Report 2021

Accounts paid in advance665,035.0373,685.03
Other account receivable91,466,272.6893,922,057.92
Including: Interest receivable
Dividend receivable
Inventories14,806.5014,806.50
Contractual assets
Assets held for sale
Non-current assets maturing within one year
Other current assets
Total current assets93,722,000.7794,976,928.62
Non-current assets:
Debt investment
Other debt investment
Long-term receivables
Long-term equity investments186,618,400.00186,618,400.00
Investment in other equity instrument
Other non-current financial assets
Investment real estate23,655,797.7623,957,898.42
Fixed assets96,378,435.7196,610,714.88
Construction in progress740,000.00740,000.00
Productive biological assets
Oil and natural gas assets
Right-of-use assets
Intangible assets4,372,527.094,408,763.52
Research and development costs
Goodwill
Long-term deferred expenses
Deferred income tax assets7,443,826.117,443,826.11
Other non-current assets
Total non-current assets319,208,986.67319,843,364.57
Total assets412,930,987.44414,820,293.19
Current liabilities
Short-term borrowings

First Quarterly Report 2021

Trading financial liability
Derivative financial liability
Notes payable
Account payable9,740,367.3310,745,840.16
Accounts received in advance
Contractual liability70,649.0979,195.32
Wage payable818,625.541,476,601.12
Taxes payable8,714,006.227,892,878.33
Other accounts payable19,909,799.9321,304,919.43
Including: Interest payable
Dividend payable
Liability held for sale
Non-current liabilities due within one year12,000,000.0012,000,000.00
Other current liabilities3,959.77
Total current liabilities51,253,448.1153,208,509.15
Non-current liabilities:
Long-term loans58,000,000.0061,000,000.00
Bonds payable
Including: preferred stock
Perpetual capital securities
Lease liability
Long-term account payable
Long term employee compensation payable
Accrued liabilities64,411.0064,411.00
Deferred income
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities58,064,411.0061,064,411.00
Total liabilities109,317,859.11114,272,920.15
Owners’ equity:
Share capital283,161,227.00283,161,227.00
Other equity instrument

First Quarterly Report 2021

Including: preferred stock
Perpetual capital securities
Capital public reserve146,587,271.50146,587,271.50
Less: Inventory shares
Other comprehensive income
Special reserve
Surplus reserve77,391,593.2577,391,593.25
Retained profit-203,526,963.42-206,656,480.35
Total owner’s equity303,613,128.33300,483,611.40
Total liabilities and owner’s equity412,930,987.44414,756,531.55

3. Consolidated Profit Statement

In RMB

ItemCurrent periodLast period
I. Total operating income190,936,203.5787,800,584.55
Including: Operating income190,936,203.5787,800,584.55
Interest income
Insurance gained
Commission charge and commission income
II. Total operating cost184,218,871.6188,130,200.33
Including: Operating cost160,692,426.3373,672,446.25
Interest expense
Commission charge and commission expense
Cash surrender value
Net amount of expense of compensation
Net amount of withdrawal of insurance contract reserve
Bonus expense of guarantee slip
Reinsurance expense
Tax and extras643,046.97584,743.27

First Quarterly Report 2021

Sales expense9,604,962.163,448,537.85
Administrative expense9,403,968.168,058,091.66
R&D expense1,990,208.94908,285.77
Financial expense1,884,259.051,458,095.53
Including: Interest expenses1,805,136.092,375,650.33
Interest income107,550.38128,721.93
Add: other income119,520.0064,770.00
Investment income (Loss is listed with “-”)71,186.4437,415.02
Including: Investment income on affiliated company and joint venture
The termination of income recognition for financial assets measured by amortized cost(Loss is listed with “-”)
Exchange income (Loss is listed with “-”)
Net exposure hedging income (Loss is listed with “-”)
Income from change of fair value (Loss is listed with “-”)
Loss of credit impairment (Loss is listed with “-”)
Losses of devaluation of asset (Loss is listed with “-”)
Income from assets disposal (Loss is listed with “-”)
III. Operating profit (Loss is listed with “-”)6,908,038.40-227,430.76
Add: Non-operating income19,464.755,492.44
Less: Non-operating expense8,950.00263,835.56
IV. Total profit (Loss is listed with “-”)6,918,553.15-485,773.88
Less: Income tax expense1,360,875.84-85,032.71
V. Net profit (Net loss is listed with “-”)5,557,677.31-400,741.17
(i) Classify by business continuity
1.continuous operating net profit (net loss listed with ‘-”)5,557,677.31-400,741.17

First Quarterly Report 2021

2.termination of net profit (net loss listed with ‘-”)
(ii) Classify by ownership
1.Net profit attributable to owner’s of parent company5,557,677.31-400,741.17
2.Minority shareholders’ gains and losses
VI. Net after-tax of other comprehensive income
Net after-tax of other comprehensive income attributable to owners of parent company
(i) Other comprehensive income items which will not be reclassified subsequently to profit of loss
1.Changes of the defined benefit plans that re-measured
2.Other comprehensive income under equity method that cannot be transfer to gain/loss
3.Change of fair value of investment in other equity instrument
4.Fair value change of enterprise's credit risk
5. Other
(ii) Other comprehensive income items which will be reclassified subsequently to profit or loss
1.Other comprehensive income under equity method that can transfer to gain/loss
2.Change of fair value of other debt investment
3.Amount of financial assets re-classify to other comprehensive income
4.Credit impairment provision for other debt investment
5.Cash flow hedging reserve

First Quarterly Report 2021

6.Translation differences arising on translation of foreign currency financial statements
7.Other
Net after-tax of other comprehensive income attributable to minority shareholders
VII. Total comprehensive income5,557,677.31-400,741.17
Total comprehensive income attributable to owners of parent Company5,557,677.31-400,741.17
Total comprehensive income attributable to minority shareholders
VIII. Earnings per share:
(i) Basic earnings per share0.0197-0.0014
(ii) Diluted earnings per share0.0197-0.0014

Enterprise combine under the same control in the Period, the combined party realized net profit of 1,585,431.59Yuan beforecombination, and realized-1,894,884.83 Yuan at last period for combined partyLegal Representative: Li ZhongqiuPerson in charge of accounting works: Yang BinPerson in charge of accounting institute: Wu Aijie

4. Profit Statement of Parent Company

In RMB

ItemCurrent periodLast period
I. Operating income10,890,563.237,437,448.02
Less: Operating cost1,783,550.06613,839.48
Taxes and surcharge277,510.56257,246.31
Sales expenses
Administration expenses2,938,581.713,553,655.31
R&D expenses
Financial expenses1,709,732.012,015,272.00
Including: interest expenses1,709,745.852,015,830.25
Interest income503.643,734.78

First Quarterly Report 2021

Add: other income
Investment income (Loss is listed with “-”)
Including: Investment income on affiliated Company and joint venture
The termination of income recognition for financial assets measured by amortized cost (Loss is listed with “-”)
Net exposure hedging income (Loss is listed with “-”)
Changing income of fair value (Loss is listed with “-”)
Loss of credit impairment (Loss is listed with “-”)
Losses of devaluation of asset (Loss is listed with “-”)
Income on disposal of assets (Loss is listed with “-”)
II. Operating profit (Loss is listed with “-”)4,181,188.89997,434.92
Add: Non-operating income0.35
Less: Non-operating expense8,500.00
III. Total Profit (Loss is listed with “-”)4,172,689.24997,434.92
Less: Income tax1,043,172.31249,358.73
IV. Net profit (Net loss is listed with “-”)3,129,516.93748,076.19
(i) continuous operating net profit (net loss listed with ‘-”)3,129,516.93748,076.19
(ii) termination of net profit (net loss listed with ‘-”)
V. Net after-tax of other comprehensive income
(i) Other comprehensive income items which will not be reclassified subsequently to profit of loss
1.Changes of the defined benefit plans that re-measured

First Quarterly Report 2021

2.Other comprehensive income under equity method that cannot be transfer to gain/loss
3.Change of fair value of investment in other equity instrument
4.Fair value change of enterprise's credit risk
5. Other
(ii) Other comprehensive income items which will be reclassified subsequently to profit or loss
1.Other comprehensive income under equity method that can transfer to gain/loss
2.Change of fair value of other debt investment
3.Amount of financial assets re-classify to other comprehensive income
4.Credit impairment provision for other debt investment
5.Cash flow hedging reserve
6.Translation differences arising on translation of foreign currency financial statements
7.Other
VI. Total comprehensive income3,129,516.93748,076.19
VII. Earnings per share:
(i) Basic earnings per share0.01110.0026
(ii) Diluted earnings per share0.01110.0026

5. Consolidated Cash Flow Statement

In RMB

ItemCurrent periodLast period
I. Cash flows arising from operating activities:
Cash received from selling118,847,638.9286,584,529.58

First Quarterly Report 2021

commodities and providing labor services
Net increase of customer deposit and interbank deposit
Net increase of loan from central bank
Net increase of capital borrowed from other financial institution
Cash received from original insurance contract fee
Net cash received from reinsurance business
Net increase of insured savings and investment
Cash received from interest, commission charge and commission
Net increase of capital borrowed
Net increase of returned business capital
Net cash received by agents in sale and purchase of securities
Write-back of tax received1,717,004.00
Other cash received concerning operating activities1,009,951.001,372,807.06
Subtotal of cash inflow arising from operating activities121,574,593.9287,957,336.64
Cash paid for purchasing commodities and receiving labor service90,764,568.4156,760,923.41
Net increase of customer loans and advances
Net increase of deposits in central bank and interbank
Cash paid for original insurance contract compensation
Net increase of capital lent
Cash paid for interest, commission charge and commission

First Quarterly Report 2021

Cash paid for bonus of guarantee slip
Cash paid to/for staff and workers18,034,045.238,467,600.61
Taxes paid8,114,109.922,351,100.26
Other cash paid concerning operating activities9,787,646.7412,446,403.77
Subtotal of cash outflow arising from operating activities126,700,370.3080,026,028.05
Net cash flows arising from operating activities-5,125,776.387,931,308.59
II. Cash flows arising from investing activities:
Cash received from recovering investment
Cash received from investment income71,186.4437,415.02
Net cash received from disposal of fixed, intangible and other long-term assets13,000.0091,000.00
Net cash received from disposal of subsidiaries and other units
Other cash received concerning investing activities25,000,000.00
Subtotal of cash inflow from investing activities84,186.4425,128,415.02
Cash paid for purchasing fixed, intangible and other long-term assets1,624,675.50467,211.58
Cash paid for investment
Net increase of mortgaged loans
Net cash received from subsidiaries and other units obtained
Other cash paid concerning investing activities25,000,000.00
Subtotal of cash outflow from investing activities1,624,675.5025,467,211.58
Net cash flows arising from investing activities-1,540,489.06-338,796.56
III. Cash flows arising from financing

First Quarterly Report 2021

activities
Cash received from absorbing investment
Including: Cash received from absorbing minority shareholders’ investment by subsidiaries
Cash received from loans20,710,525.006,725,056.80
Other cash received concerning financing activities
Subtotal of cash inflow from financing activities20,710,525.006,725,056.80
Cash paid for settling debts15,419,668.0020,548,487.80
Cash paid for dividend and profit distributing or interest paying1,780,079.262,393,884.15
Including: Dividend and profit of minority shareholder paid by subsidiaries
Other cash paid concerning financing activities6,408,886.53
Subtotal of cash outflow from financing activities23,608,633.7922,942,371.95
Net cash flows arising from financing activities-2,898,108.79-16,217,315.15
IV. Influence on cash and cash equivalents due to fluctuation in exchange rate-124,286.4132,336.78
V. Net increase of cash and cash equivalents-9,688,660.64-8,592,466.34
Add: Balance of cash and cash equivalents at the period -begin30,050,989.3336,645,061.61
VI. Balance of cash and cash equivalents at the period -end20,362,328.6928,052,595.27

6. Cash Flow Statement of Parent Company

In RMB

ItemCurrent periodLast period
I. Cash flows arising from operating activities:

First Quarterly Report 2021

Cash received from selling commodities and providing labor services12,621,650.089,931,734.48
Write-back of tax received
Other cash received concerning operating activities4,883,321.543,939,188.22
Subtotal of cash inflow arising from operating activities17,504,971.6213,870,922.70
Cash paid for purchasing commodities and receiving labor service
Cash paid to/for staff and workers964,773.82622,769.26
Taxes paid773,606.331,239,019.63
Other cash paid concerning operating activities5,419,192.427,205,331.06
Subtotal of cash outflow arising from operating activities7,157,572.579,067,119.95
Net cash flows arising from operating activities10,347,399.054,803,802.75
II. Cash flows arising from investing activities:
Cash received from recovering investment
Cash received from investment income
Net cash received from disposal of fixed, intangible and other long-term assets
Net cash received from disposal of subsidiaries and other units
Other cash received concerning investing activities
Subtotal of cash inflow from investing activities
Cash paid for purchasing fixed, intangible and other long-term assets
Cash paid for investment
Net cash received from

First Quarterly Report 2021

subsidiaries and other units obtained
Other cash paid concerning investing activities
Subtotal of cash outflow from investing activities
Net cash flows arising from investing activities
III. Cash flows arising from financing activities
Cash received from absorbing investment
Cash received from loans
Other cash received concerning financing activities
Subtotal of cash inflow from financing activities
Cash paid for settling debts3,000,000.002,000,000.00
Cash paid for dividend and profit distributing or interest paying1,710,249.492,015,830.25
Other cash paid concerning financing activities
Subtotal of cash outflow from financing activities4,710,249.494,015,830.25
Net cash flows arising from financing activities-4,710,249.49-4,015,830.25
IV. Influence on cash and cash equivalents due to fluctuation in exchange rate
V. Net increase of cash and cash equivalents5,637,149.56787,972.50
Add: Balance of cash and cash equivalents at the period -begin737,682.092,046,143.44
VI. Balance of cash and cash equivalents at the period -end6,374,831.652,834,115.94

First Quarterly Report 2021

II. Explanation on financial statement adjustment

1. Financial statement adjustment at the beginning of the first year when implementation of new leasingrules from 2021

□Applicable √Not applicable

2. Retrospective adjustment of the comparative data for initial new leasing rules from 2021

□Applicable √Not applicable

III. Audit report

Whether the 1

stquarterly report has been audited or not

□Yes √ No

1Q report of the Company is unaudited.


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