SHENZHEN SPECIAL ECONOMIC ZONE REAL ESTATE
& PROPERTIES (GROUP) CO., LTD.
FIRST QUARTER REPORT 2019
2019-032
April 2019
Part I Important Notes
The Board of Directors (or the “Board”), the Supervisory Committee as well as the directors,supervisors and senior management of ShenZhen Special Economic Zone Real Estate &Properties (Group) Co., Ltd. (hereinafter referred to as the “Company”) hereby guarantee thefactuality, accuracy and completeness of the contents of this Report and its summary, andshall be jointly and severally liable for any misrepresentations, misleading statements ormaterial omissions therein.All the Company’s directors have attended the Board meeting for the review of this Reportand its summary.Zhou Jianguo, the Chairman of the Board, Chen Maozheng, the General Manager, TangXiaoping, the head for financial affairs, and Qiao Yanjun, the head of the financialdepartment (equivalent to financial manager) hereby guarantee that the Financial Statementscarried in this Report are factual, accurate and complete.This Report and its summary have been prepared in both Chinese and English. Should therebe any discrepancies or misunderstandings between the two versions, the Chinese versionsshall prevail.
Part II Key Corporate Information
I Key Financial Information
Indicate by tick mark whether there is any retrospectively restated datum in the table below.□ Yes √ No
Q1 2019 Q1 2018 Change (%)Operating revenue (RMB) 424,535,370.83
149,537,691.65
183.90%
Net profit attributable to
the listed
company’s shareholders (RMB)
84,028,728.24
the listed | ||
-5,982,684.72
1,504.53%
Net profit attributable to
company’s shareholders
the listedbefore exceptional
items (RMB)
84,055,572.77
before exceptional |
-6,292,418.64
1,435.82%
activities (RMB)
217,157,204.59
Net cash generated from/used in operating | ||
205,338,536.04
5.76%
Basic earnings per share (RMB/share) 0.0831
-0.0059
Diluted earnings per share (RMB/share) 0.0831
-0.0059
Weighted average return on equity (%) 2.49%
-0.21%
31 March 2019 31 December 2018 Change (%)Total assets (RMB) 4,830,618,474.80
4,665,891,514.25
3.53%
Equity
attributable to the listed company’s
shareholders (RMB)
3,417,888,960.45
attributable to the listed company’s | ||
3,332,259,641.39
2.57%
Exceptional gains and losses:
√ Applicable □ Not applicable
Unit: RMBItem Q1 2019 NoteGain or loss on disposal of non-
impairment allowance write-offs)
-1,149.90
current assets (inclusive of | ||
Non-operating income and expense other than the above -34,642.81
Less: Income tax effects -8,948.18
Total -26,844.53
--Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item defined or listed in the ExplanatoryAnnouncement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Gain/LossItems:
□ Applicable √ Not applicableNo such cases for the Reporting Period.
II Total Number of Shareholders and Holdings of Top 10 Shareholders at 31 March 2019
1. Numbers of Ordinary Shareholders and Preferred Shareholders with Resumed Voting Rights as well asHoldings of Top 10 Shareholders
Unit: shareNumber of
the period-end
76,443
ordinary shareholders at
Number of preferred
shareholders with resumed voting
rights at the period-end (if any)
shareholders with resumed voting
Top 10 shareholdersName of shareholder
Nature ofshareholder
Shareholdin
g percentage
Total shares
held
Restricted
g percentageshares
held
Shares in pledge or frozenStatus Shares
sharesShenzhen Investment
Holdings Co., Ltd
State-ownedlegal person
63.55%
Shenzhen Investment
642,884,262
Holding
Shandong Gold FinancialCapital Management
Co., Ltd.-
Capital ManagementShandong Gold
Financial Holding
Shandong GoldSustaining
Fund 1
Domesticnon-state-
Sustainingowned
legal person
1.02%
owned |
10,300,000
Lu Zhigao
Domesticnatural person
0.32%
3,246,949
Tan Shiqing
Domesticnatural person
0.13%
1,286,701
Yang Shuilian
Domesticnatural person
0.13%
1,273,700
Yang Jianxiong
Domesticnatural person
0.12%
1,255,750
Management Co., Ltd.
State-ownedlegal person
0.12%
Central Huijin Asset
1,165,500
Peng Wei
Domesticnatural person
0.11%
1,129,082
Wu Haoyuan
Foreign naturalperson
0.11%
1,109,300
Guotai Junan Securities(Hong Kong) Limited
Foreign legalperson
0.10%
1,015,683
Top 10 unrestricted shareholdersName of shareholder Unrestricted shares held Shares by type
Type SharesShenzhen Investment Holdings Co., Ltd 642,884,262
RMB-denominated ordinary stock
642,884,262
Shandong Gold Financial Holding
Capital
Management Co., Ltd.-
CapitalShandong Gold
Financial Holding Sustaining Fund 1
10,300,000
Shandong Gold |
RMB-denominated ordinary stock
10,300,000
Lu Zhigao 3,246,949
RMB-denominated ordinary stock
3,246,949
Tan Shiqing 1,286,701
RMB-denominated ordinary stock
1,286,701
Yang Shuilian 1,273,700
RMB-denominated ordinary stock
1,273,700
Yang Jianxiong 1,255,750
Domestically
listed foreign |
stock
1,255,750
Central Huijin Asset Management Co., Ltd. 1,165,500
RMB-denominated ordinary stock
1,165,500
Peng Wei 1,129,082
Domestically
listed foreign |
stock
1,129,082
Wu Haoyuan 1,109,300
Domestically
listed foreign |
stock
1,109,300
Guotai Junan Securities (Hong Kong) Limited
1,015,683
Domestically
stock
1,015,683
listed foreign |
Related or acting-in-
shareholders above
The Company has found no related parties or acting-in-
concert parties among theconcert parties as defined
in the Administrative Measures for Shareholding Changes in Listed Companies
concert parties as defined
among the shareholders above.Top 10 ordinary shareholders involved in
securities margin trading (if any)
The fourth shareholder
holds all his shares in the Company in his accounts of
holds all his shares in the Company in his accounts ofcredit. And the third shareholder holds some of his shares in the Company in such
accounts.Indicate by tick mark whether any of the top 10 ordinary shareholders or the top 10 unrestricted ordinary shareholders of theCompany conducted any promissory repo during the Reporting Period.□ Yea √ NoNo such cases in the Reporting Period.
2. Number of Preferred Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
Part III Significant Events
I Changes in Key Financial Statement Line Items and Explanation of why
√ Applicable □ Not applicable
Operating revenue rose 183.90% during Q1 2019 compared to Q1 2018, primarily driven by thesales revenue from the new projects of Chuanqi Jingyuan and Cuilinyuan.Taxes and surcharges rose 3608.67% during Q1 2019 compared to Q1 2018, primarily driven by theland VAT provision for the property sales revenue.Finance costs declined 35.83% during Q1 2019 compared to Q1 2018, primarily driven by a loweramount of interest income resulted from the decrease of term deposits for investment in bank’sstructured deposits.Net cash generated from investing activities rose 121547.34% during Q1 2019 compared to Q12018, primarily driven by the recovery of the principal and interest of the RMB900 millionstructured deposit upon maturity on 22 March 2019.Other current assets went up 123.94% as at 31 March 2019 compared to 31 December 2018,primarily driven by a higher amount of pre-paid VAT and land VAT.Advances from customers went up 138.60% as at 31 March 2019 compared to 31 December 2018,primarily driven by stronger property sales.II Progress, Influence and Solutions with regard to Significant Events
√ Applicable □ Not applicable
Since the controlling shareholder of the Company is planning a significant event that involves theCompany, upon the application to the Shenzhen Stock Exchange, trading in the stocks of theCompany (A-stock under the name of “SPG” and the code of “000029”; B-stock under the name of“SPG-B” and the code of “200029”) was suspended starting from the opening of 14 September2016. The Company disclosed the Announcement on Share Trading Suspension due to Planning ofSignificant Event (No. 2016-022), the Announcement on Continued Share Trading Suspension dueto Planning of Significant Event (No. 2016-023) and the Announcement on Continued ShareTrading Suspension due to Planning of Significant Event (No. 2016-024) on 14 September 2016, 22September 2016 and 29 September 2016, respectively. Upon ascertainment, the event constituted amaterial asset restructuring. The Company disclosed the Announcement on Share TradingSuspension due to Planning of Major Assets Restructuring (No. 2016-025) on 30 September 2016and the Announcement on Signing Cooperation Agreement on Restructuring and Listing (No.2016-027) on 10 October 2016.The Company convened the 33
rd
Meeting of the 7
th
Board of the Directors on 11 November 2016,which the Proposal on Continued Share Trading Suspension due to Planning of Major AssetsRestructuring was reviewed and approved. For details, see the Announcement on Continued ShareTrading Suspension after Expiration of Period of Share Trading Suspension due to Planning ofMajor Assets Restructuring (No. 2016-039) disclosed on 14 November 2016.
The Company convened the 1
st
Extraordinary General Meeting of 2016 on 12 December 2016, onwhich the Proposal on Continued Share Trading Suspension due to Planning of Major AssetsRestructuring was reviewed and approved. For details, see the Announcement on Application forContinued Share Trading Suspension after Expiration of Period of Share Trading Suspension dueto Planning of Major Assets Restructuring (No. 2016-047) disclosed on 13 December 2016.The Company held an online illustration meeting to investors on 10 March 2017, communicatingthis major assets restructuring with them and answering questions that they were generallyconcerned about with the information allowed to be disclosed. For details, see the Announcement onOnline Illustration Meeting to Investors (No. 2017-012) disclosed on 11 March 2017.To ensure the smooth progress of this major assets restructuring, prevent abnormal fluctuations inthe prices of its stocks and protect the rights and interests of its non-controlling interests, theCompany has applied to the Shenzhen Stock Exchange for continued share trading suspension forno more than 1 month as of 14 April 2019. For details, see the Announcement on Delay of ShareTrading Resumption due to the Major Assets Restructuring in Planning (No. 2019-026) disclosedon 13 April 2019.During the share trading suspension period, the Company shall disclose the progress of this majorassets restructuring at least every five trading days in strict accordance with the requirements ofapplicable laws and regulations. At present, this major assets restructuring is proceeding smoothly.This major assets restructuring is subject to great uncertainty. Therefore, investors are kindlyreminded to pay attention to possible investment risk.
Summary of the significant event Disclosure date Index to the related announcementDelay of share trading resumption due tothe major assets restructuring
13 April 2019
Announcement on Delay of Share TradingResumption due to the Major AssetsRestructuring in Planning disclosed onwww.cninfo.com.cnProgress of any share repurchase:
□ Applicable √ Not applicableProgress of any reduction of the repurchased shares through centralized bidding:
□ Applicable √ Not applicable
III Commitments that the Company’s Actual Controller, Shareholders, Related Parties,Acquirers, the Company Itself or Other Parties, Failed to Fulfill on Time during theReporting Period
□ Applicable √ Not applicableNo such cases in the Reporting Period.
IV Operating Performance Forecast for H1 2019
Warning of a forecast loss on or a forecast significant year-on-year change in the net profit of H1 2019, as well as explanation ofwhy:
□ Applicable √ Not applicable
V Securities Investments
□ Applicable √ Not applicableNo such cases in the Reporting Period.
VI Investments in Derivative Financial Instruments
□ Applicable √ Not applicableNo such cases in the Reporting Period.
VII Communications with the Investment Community such as Researches, Inquiries andInterviews during the Reporting Period
√ Applicable □ Not applicable
Date Way of communication
Type of communication
party
Index to main information
communicated
21 January 2019 By phone Individual
Asked about the progress of the assetsrestructuring and the development andsales of property projects, with nowritten materials provided by theCompany
25 February 2019 By phone Individual
Asked about the progress of the assetsrestructuring, the annual operatingresults and the expected disclosure dateof the annual report, with no writtenmaterials provided by the Company26 March 2019 By phone Individual
Asked about the progress of the assets
Company, with no written materialsprovided by the Company
VIII Irregularities in the Provision of Guarantees
□ Applicable √ Not applicableNo such cases in the Reporting Period.
IX Occupation of the Company’s Capital by the Controlling Shareholder or Its RelatedParties for Non-Operating Purposes
□ Applicable √ Not applicableNo such cases in the Reporting Period.
Part IV Financial Statements
I Financial Statements
1. Consolidated Balance Sheet
Prepared by ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
31 March 2019
Unit: RMBItem 31 March 2019 31 December 2018Current assets:
Monetary capital2,276,863,878.07
2,048,522,435.93
Settlement reserve
Interbank loans granted
Trading financial assets
profit or loss
Financial assets at fair value through | ||||
Derivative financial assets
Notes and accounts receivable 37,795,313.34
33,426,991.65
Including: Notes receivable
Accounts receivable 37,795,313.34
33,426,991.65
Prepayments 6,863,055.57
4,177,767.88
Premiums receivable
Reinsurance receivables
Receivable reinsurance contract reserve
Other receivables 45,546,717.47
45,018,027.61
Including: Interest receivable
2,453,067.78
Dividends receivable 1,052,192.76
1,052,192.76
agreements
Financial assets purchased under resale | ||||
Inventories1,697,269,302.51
1,685,152,051.26
Contractual assets
Assets classified as held for sale
Current portion of non-current assets
Other current assets15,185,546.09
6,780,999.56
Total current assets 4,079,523,813.05
3,823,078,273.89
Non-current assets:
Loans and advances to customers
Investments in debt obligations
Available-for-sale financial assets 17,464,240.74
17,464,240.74
Investments in other debt obligations
Held-to-maturity investments
Long-term receivables
Long-term equity investments 12,561,107.24
12,561,107.24
Investments in other equity instruments
Other non-current financial assets
Investment property617,354,068.63
623,930,838.15
Fixed assets 32,932,096.32
33,926,198.52
Construction in progress
Productive living assets
Oil and gas assets
Right-of-use assets
Intangible assets
R&D expense
Goodwill
Long-term prepaid expense 337,245.96
387,066.91
Deferred income tax assets70,445,902.86
154,543,788.80
Other non-current assets
Total non-current assets751,094,661.75
842,813,240.36
Total assets 4,830,618,474.80
4,665,891,514.25
Current liabilities:
Short-term borrowings 33,284,489.71
17,260,103.46
Borrowings from central bank
Interbank loans obtained
Trading financial liabilities
profit or loss
Financial liabilities at fair value through | ||||
Derivative financial liabilities
Notes and accounts payable150,288,623.70
216,758,906.71
Advances from customers 373,229,740.75
156,426,152.86
agreements
Financial assets sold under repurchase | ||||
Customer deposits and
deposits
interbank | ||||
Payables for acting trading of securities
Payables for underwriting of securities
Payroll payable 37,531,177.96
45,836,830.05
Taxes payable 293,479,948.33
300,547,372.98
Other payables 648,470,536.41
721,819,898.48
Including: Interest payable 16,535,277.94
16,535,277.94
Dividends payable
payable
Handling charges and commissions | ||||
Reinsurance payables
Contractual liabilities
classified as held for sale
Liabilities directly associated with assets | ||||
Current portion of non-
current liabilities |
Other current liabilities
Total current liabilities 1,536,284,516.86
1,458,649,264.54
Non-current liabilities:
Insurance contract reserve
Long-term borrowings
Bonds payable
Including: Preferred shares
Perpetual bonds
Lease liabilities
Long-term payables 7,235,431.68
6,507,139.20
Provisions
Deferred income
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities7,235,431.68
6,507,139.20
Total liabilities 1,543,519,948.54
1,465,156,403.74
Owners’ equity:
Share capital 1,011,660,000.00
1,011,660,000.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserves978,244,910.11
978,244,910.11
Less: Treasury stock
Other comprehensive income12,164,976.79
10,564,385.97
Surplus reserves 95,906,222.59
95,906,222.59
General reserve
Retained earnings 1,319,912,850.96
1,235,884,122.72
Company as the parent
3,417,888,960.45
Total equity attributable to owners of the | ||
3,332,259,641.39
Non-controlling interests-130,790,434.19
-131,524,530.88
Total owners’ equity 3,287,098,526.26
3,200,735,110.51
Total liabilities and owners’ equity4,830,618,474.80
4,665,891,514.25
Legal representative: Zhou Jianguo Head for financial affairs: Tang XiaopingHead of the financial department: Qiao Yanjun
2. Balance Sheet of the Company as the Parent
Unit: RMBItem 31 March 2019 31 December 2018Current assets:
Monetary capital 1,692,144,983.38
1,344,486,378.53
Trading financial assets
profit or loss
Financial assets at fair value through | ||||
Derivative financial assets
Notes and accounts receivable 4,385,226.42
5,164,795.67
Including: Notes receivable
Accounts receivable 4,385,226.42
5,164,795.67
Prepayments200,000.00
200,000.00
Other receivables 752,189,308.07
770,374,849.84
Including: Interest receivable
2,380,301.11
Dividends receivable
Inventories560,769,131.19
543,912,100.37
Contractual assets
Assets classified as held for sale
Current portion of non-current assets
Other current assets 254,848.94
215,745.41
Total current assets3,009,943,498.00
2,664,353,869.82
Non-current assets:
Investments in debt obligations
Available-for-sale financial assets 12,000,000.00
12,000,000.00
Investments in other debt obligations
Held-to-maturity investments
Long-term receivables
Long-term equity investments 235,284,776.57
235,284,776.57
Investments in other equity instruments
Other non-current financial assets
Investment property505,696,873.41
511,040,299.65
Fixed assets 21,314,880.57
21,942,842.11
Construction in progress
Productive living assets
Oil and gas assets
Right-of-use assets
Intangible assets
R&D expense
Goodwill
Long-term prepaid expense 300,043.27
346,015.72
Deferred income tax assets16,699,980.23
16,699,980.23
Other non-current assets
Total non-current assets791,296,554.05
797,313,914.28
Total assets 3,801,240,052.05
3,461,667,784.10
Current liabilities:
Short-term borrowings
Trading financial liabilities
profit or loss
Financial liabilities at fair value through | ||||
Derivative financial liabilities
Notes and accounts payable12,589,061.32
16,743,360.96
Advances from customers 211,079,549.03
22,035,608.45
Contractual liabilities
Payroll payable19,067,339.43
19,687,728.50
Taxes payable 238,709,548.47
144,621,616.85
Other payables595,250,326.56
594,392,900.98
Including: Interest payable 16,535,277.94
16,535,277.94
Dividends payable
classified as held for sale
Liabilities directly associated with assets | ||||
Current portion of non-
current liabilities |
Other current liabilities
Total current liabilities 1,076,695,824.81
797,481,215.74
Non-current liabilities:
Long-term borrowings
Bonds payable
Including: Preferred shares
Perpetual bonds
Lease liabilities
Long-term payables
Provisions
Deferred income
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities
Total liabilities1,076,695,824.81
797,481,215.74
Owners’ equity:
Share capital1,011,660,000.00
1,011,660,000.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserves964,711,931.13
964,711,931.13
Less: Treasury stock
Other comprehensive income
Surplus reserves 72,776,609.18
72,776,609.18
Retained earnings675,395,686.93
615,038,028.05
Total owners’ equity 2,724,544,227.24
2,664,186,568.36
Total liabilities and owners’ equity 3,801,240,052.05
3,461,667,784.10
3. Consolidated Income Statement
Unit: RMBItem Q1 2019 Q1 20181. Revenue424,535,370.83
149,537,691.65
Including: Operating revenue 424,535,370.83
149,537,691.65
Interest income
Premium income
income
Handling charge and commission | ||||
2. Costs and expenses325,163,686.57
159,930,793.31
Including: Cost of sales 202,277,666.23
134,755,463.32
Interest expense
Handling
expense
charge and commission | ||||
Surrenders
Net claims paid
contract reserve
Net amount provided as insurance | ||||
Expenditure on policy dividends
Reinsurance premium expense
Taxes and surcharges98,423,101.84
2,653,864.82
Selling expense 13,343,017.90
12,456,944.31
Administrative expense13,778,473.34
14,207,674.65
R&D expense
Finance costs-2,658,572.74
-4,143,153.79
Including: Interest expense 28,275.01
1,935,342.34
Interest income
3,125,874.09
6,619,779.87
Asset impairment loss
Credit impairment loss
Add: Other income
Return on investment (“-” for loss) 9,083,234.25
827,100.00
ventures and associates
Including: Share of profit or loss of joint | ||||
Foreign exchange gain (“-” for loss)
Net gain on exposure hedges (“-” for loss)
Gain on changes in fair value (“-” for loss)
Asset disposal income (“-” for loss)
3. Operating profit (“-” for loss) 108,454,918.51
-9,566,001.66
Add: Non-operating income181.09
412,978.56
Less: Non-operating expense 35,973.80
20,424.16
4. Profit before tax (“-” for loss)108,419,125.80
-9,173,447.26
Less: Income tax expense 24,342,268.36
-3,221,704.74
5. Net profit (“-” for net loss)84,076,857.44
-5,951,742.52
5.1 By operating continuity5.1.
(“-” for net loss)
84,076,857.44
1 Net profit from continuing operations | ||
-5,951,742.52
5.1.
2 Net profit from discontinued
operations (“-” for net loss)
2 Net profit from discontinued | ||||
5.2 By ownership
5.2.1
Company as the parent
84,028,728.24
Net profit attributable to owners of the
-5,982,684.72
5.2.1
non-controlling interests
48,129.20
Net profit attributable to | ||
30,942.20
6. Other comprehensive income, net of tax 2,286,558.31
2,797,799.68
parent
1,600,590.82
Attributable to owners of the Company as the | ||
1,958,459.78
6.1 Items that will not be reclassified to
profit or loss
6.1 Items that will not be reclassified to | ||||
on defined benefit pension schemes
6.1.1 Changes caused by remeasurements | ||||
6.1.2 O
will not be reclassified to profit or loss under
ther comprehensive income thatthe
equity method
the |
6.1.3
investments in other equity instruments
Changes in the fair value of | ||||
6.1.4
company’s credit risks
Changes in the fair value of the | ||||
6.1.5 Other
6.2 Items that will
or loss
1,600,590.82
be reclassified to profit | ||
1,958,459.78
6.2.1 O
ther comprehensive income that
will be reclassified to profit or loss under
ther comprehensive income thatthe
equity method
the |
6.2.2
investments in other debt obligations
Changes in the fair value of | ||||
6.2.3 Gain/Loss on changes in the
value of available-for-sale financial assets
fair | ||||
6.2.4
Other comprehensive incomearising from the reclassification of financial
assets
arising from the reclassification of financial |
6.2.5 Gain/Loss arising from
reclassification of held-to-
thematurity investments
to available-for-sale financial assets
maturity investments |
investments in other debt obligations
6.2.6 Allowance for credit impairments in | ||||
6.2.7 Reserve for cash flow hedges
6.2.8 Differences arising from
translation of foreign currency-
thedenominated
financial statements
1,600,590.82
denominated |
1,958,459.78
6.2.9 Other
Attributable to non-controlling interests 685,967.49
839,339.90
7. Total comprehensive income 86,363,415.75
-3,153,942.84
parent
85,629,319.06
Attributable to owners of the Company as the | ||
-4,024,224.94
Attributable to non-controlling interests 734,096.69
870,282.10
8. Earnings per share
8.1 Basic earnings per share 0.0831
-0.0059
8.2 Diluted earnings per share0.0831
-0.0059
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: Zhou Jianguo Head for financial affairs: Tang XiaopingHead of the financial department: Qiao Yanjun
4. Income Statement of the Company as the Parent
Unit: RMBItem Q1 2019 Q1 20181. Operating revenue193,299,003.22
14,713,168.57
Less: Cost of sales 31,591,927.69
6,208,841.78
Taxes and surcharges79,883,135.16
1,844,377.36
Selling expense 10,905,238.86
175,734.43
Administrative expense5,229,110.88
5,252,961.05
R&D expense
Finance costs -2,692,984.60
-6,393,134.73
Including: Interest expense
1,233,680.56
Interest income 7,768,291.80
13,903,498.96
Asset impairment loss
Credit impairment loss
Add: Other income
Return on investment (“-” forloss)
9,083,234.25
827,100.00
loss of joint ventures and associates
Including: Share of profit or | ||||
Net gain on exposure hedges (“-”for loss)
Gain on changes in fair value (“-”for loss)
Asset disposal income (“-” forloss)
2. Operating profit (“-” for loss) 77,465,809.48
8,451,488.68
Add: Non-operating income40.01
Less: Non-operating expense
3. Profit before tax (“-” for loss)77,465,849.49
8,451,488.68
Less: Income tax expense 17,108,190.61
1,908,478.09
4. Net profit (“-” for net loss)60,357,658.88
6,543,010.59
operations (“-” for net loss)
60,357,658.88
4.1 Net profit from continuing | ||
6,543,010.59
4.2 Net profit from discontinued
operations (“-” for net loss)
4.2 Net profit from discontinued
tax
5. Other comprehensive income, net of | ||||
to profit or loss
5.1 Items that will not be reclassified | ||||
5.1.1 Changes
caused byremeasurements on defined benefit
pension schemes
remeasurements on defined benefit |
5.1.2
that will not be reclassified to
Other comprehensive incomeprofit or
loss under the equity method
profit or |
5.1.3
investments in other equity instruments
Changes in the fair value of
5.1
.4 Changes in the fair value of |
the company’s credit risks
5.1.5 Other
5.2 Items that will
profit or loss
be reclassified to | ||||
5.2.1 O
that will be reclassified to
ther comprehensive incomeprofit or loss
under the equity method
profit or loss |
5.2.
investments in other debt obligations
2 Changes in the fair value of | ||||
5.2.3 Gain/Loss on changes in
fair value of available-for-
thesale financial
assets
sale financial |
5.2.4 Other comprehensive
incomearising from the reclassification of
financial assets
arising from the reclassification of |
5.2.5 Gain/Loss arising from
reclassification of held-to-
thematurity
investments to available-for-
maturitysale
financial assets
sale
5.2.
6 Allowance for creditimpairments in investments in other
debt obligations
impairments in investments in other |
5.2.7 Reserve for cash flow hedges
5.2.8 Differences arising from
thetranslation of foreign
currency-
translation of foreigndenominated financial
statements
denominated financial
5.2.9 Other
6. Total comprehensive income 60,357,658.88
6,543,010.59
7. Earnings per share
7.1 Basic earnings per share 0.0597
0.0065
7.2 Diluted earnings per share0.0597
0.0065
5. Consolidated Cash Flow Statement
Unit: RMBItem Q1 2019 Q1 20181. Cash flows from operating activities:
Proceeds from sale of commodities
and rendering of services
687,255,636.15
Proceeds from sale of commodities | ||
508,376,103.06
Net increase in
customer deposits
and interbank deposits
customer deposits | ||||
Net increase in borrowings from
central bank
the | ||||
financial institutions
Net increase in loans from other | ||||
insurance contracts
Premiums received on original | ||||
Net proceeds from reinsurance
investments of policy holders
Net increase in deposits and | ||||
disposal of
Net increase in proceeds fromfinancial assets at fair value
through profit or loss
financial assets at fair value |
commissions received
Interest, handling charges and | ||||
Net increase in interbank
obtained
loans | ||||
repurchase transactions
Net increase in proceeds from | ||||
Net proceeds from acting trading of
securities
Tax rebates 74,607.97
activities
10,152,937.27
Cash generated from other operating | ||
27,054,470.97
Subtotal of cash generated from
operating activities
697,483,181.39
Subtotal of cash generated from | ||
535,430,574.03
Payments for commodities and
services
207,428,364.66
Payments for commodities and
233,840,761.90
to customers
Net increase in loans and advances | ||||
Net increase in deposits in
thecentral bank and in interbank loans
granted
central bank and in interbank loans |
insurance contracts
Payments for claims on original | ||||
Net increase in financial assets held
for trading purposes
granted
Net increase in interbank loans | ||||
commissions paid
Interest, handling charges and | ||||
Policy dividends paid
Cash paid to and for employees 41,274,575.65
37,500,909.89
Taxes paid 155,769,904.37
33,664,886.97
activities
75,853,132.12
Cash used in other operating | ||
25,085,479.23
Subtotal of cash used in operating
activities
480,325,976.80
Subtotal of cash used in operating | ||
330,092,037.99
Net cash generated from/used in
operating activities
217,157,204.59
Net cash generated from/used in
205,338,536.04
2. Cash flows from investing activities:
Proceeds from disinvestment900,000,000.00
Return on investment 11,365,734.25
827,100.00
Net proceeds from the
disposal offixed assets, intangible assets and other
long-lived assets
fixed assets, intangible assets and other |
Net proceeds from the disposal
subsidiaries and other business units
of | ||||
activities
Cash generated from other investing
investing activities
911,365,734.25
Subtotal of cash generated from | ||
827,100.00
Payments for the
acquisition of fixed
acquisition of fixedassets, intangible assets and other
long-lived assets
42,278.00
assets, intangible assets and other |
77,948.00
Payments for investments
granted
Net increase in pledged loans | ||||
Net payments for the
subsidiaries and other business units
acquisition of | ||||
Cash
activities
used in other investing | ||||
activities
42,278.00
Subtotal of cash used in investing | ||
77,948.00
Net cash generated from/used in
investing activities
911,323,456.25
Net cash generated from/used in | ||
749,152.00
3. Cash flows from financing activities:
Capital contributions received
by non-
Including: Capital contributionscontrolling interests to
subsidiaries
controlling interests to |
Borrowings obtained
Net proceeds from the
bonds
issuance of | ||||
activities
Cash generated from other financing | ||||
financing activities
Subtotal of cash generated from | ||||
Repayments of borrowings
106,000,000.00
Payments for interest and dividends
1,511,319.32
Including: Dividends paid by
subsidiaries to non-
Including: Dividends paid bycontrolling interests
controlling interests
activities
Cash used in other financing | ||||
activities
Subtotal of cash used in financing | ||
107,511,319.32
Net cash generated from/used in
financing activities
Net cash generated from/used in | ||
-107,511,319.32
4. Effect of foreign exchange rate
changes on cash and cash equivalents
-229,218.70
4. Effect of foreign exchange rate
-331,487.62
equivalents
1,128,251,442.14
5. Net increase in cash and cash | ||
98,244,881.10
Add: Cash and cash equivalents,
beginning of the period
1,148,522,435.93
Add: Cash and cash equivalents, | ||
1,207,079,090.29
6. Cash and cash equivalents, end of
the period
2,276,773,878.07
6. Cash and cash equivalents, end of
1,305,323,971.39
6. Cash Flow Statement of the Company as the Parent
Unit: RMBItem Q1 2019 Q1 20181. Cash flows from operating activities:
Proceeds from sale of commodities
and rendering of services
401,066,898.41
Proceeds from sale of commodities | ||
15,665,006.27
Tax rebates 2,122.45
activities
20,292,638.39
Cash generated from other operating | ||
186,998,218.65
Subtotal of cash generated from
operating activities
421,361,659.25
Subtotal of cash generated from
202,663,224.92
services
40,363,877.13
Payments for commodities and | ||
26,588,669.89
Cash paid to and for employees 10,332,086.06
7,672,327.20
Taxes paid 28,622,025.86
7,159,077.72
activities
5,750,799.60
Cash used in other operating | ||
34,247,886.16
Subtotal of cash used in operating
activities
85,068,788.65
Subtotal of cash used in operating | ||
75,667,960.97
operating activities
336,292,870.60
Net cash generated from/used in | ||
126,995,263.95
2. Cash flows from investing activities:
Proceeds from disinvestment900,000,000.00
Return on investment 11,365,734.25
827,100.00
Net proceeds from the
disposal offixed assets, intangible assets and other
long-lived assets
fixed assets, intangible assets and other |
Net proceeds
subsidiaries and other business units
from the disposal of | ||||
activities
Cash generated from other investing | ||||
investing activities
911,365,734.25
Subtotal of cash generated from | ||
827,100.00
Payments for the
acquisition of fixed
acquisition of fixedassets, intangible assets and other
long-lived assets
assets, intangible assets and other |
Payments for investments
Net payments for the
subsidiaries and other business units
acquisition of | ||||
activities
Cash used in other investing | ||||
activities
Subtotal of cash used in investing | ||||
investing activities
911,365,734.25
Net cash generated from/used in | ||
827,100.00
3. Cash flows from financing activities:
Capital contributions received
Borrowings obtained
Net proceeds from the
bonds
issuance of | ||||
activities
Cash generated from other financing | ||||
financing activities
Subtotal of cash generated from | ||||
Repayments of borrowings
106,000,000.00
Payments for interest and dividends
1,233,680.56
Cash used in other financing
activities
Cash used in other financing | ||||
activities
Subtotal of cash used in financing | ||
107,233,680.56
financing activities
Net cash generated from/used in | ||
-107,233,680.56
4. Effect of foreign exchange rate
changes on cash and cash equivalents
4. Effect of foreign exchange rate | ||
-13,487.07
5. Net increase in cash and cash
equivalents
1,247,658,604.85
5. Net increase in cash and cash | ||
20,575,196.32
Add: Cash and cash equivalents,
beginning of the period
444,486,378.53
Add: Cash and cash equivalents, | ||
726,801,673.89
6. Cash and cash equivalents, end of
the period
1,692,144,983.38
6. Cash and cash equivalents, end of | ||
747,376,870.21
II Adjustments to the Financial Statements
1. Adjustments to the Financial Statements at the Beginning of the First Execution Year of any NewStandards Governing Financial Instruments, Revenue or Leases
□ Applicable √ Not applicable
2. Retrospective Restatement of Previous Comparative Data due to the First Execution of any NewStandards Governing Financial Instruments or Leases
□ Applicable √ Not applicable
III Independent Auditor’s Report
Indicate by tick mark whether the financial statements above have been audited by an independent auditor.□Yes √ NoThese financial statements have not been audited by such an auditor.