The Report for the First Quarter of 2016 of Wuxi Little Swan Company Limited
Wuxi Little Swan Company Limited
The Report for the First Quarter of 2016
April 2016
The Report for the First Quarter of 2016 of Wuxi Little Swan Company Limited
Section I Important Statements
The Board of Directors, Supervisory Committee, directors, supervisors and senior management of Wuxi
Little Swan Company Limited (hereinafter referred to as the “Company”) hereby guarantee that the
information presented in this Report is factual, accurate and complete, and shall be jointly and severally
liable for any false information, misleading statements or material omissions carried in this Report.
Mr. Fang Hongbo, Board Chairman, Mr. Sun Yunan, CFO, and Mr. Xu Yunwei, chief of the accounting
organ (chief of accounting), hereby confirm that the financial report carried in this Report is factual,
accurate and complete.
All directors attended the board meeting for the review of this Report.
This Report has been prepared in both Chinese and English. Should there be any discrepancies or
misunderstandings between the two versions, the Chinese version shall prevail.
The Report for the First Quarter of 2016 of Wuxi Little Swan Company Limited
Section II Financial Results and Changes in Shareholders
I Financial results
Whether the Company performed any retroactive adjustments to or restatement of its accounting data due to
changes of accounting policies or correction of accounting errors
□ Yes √ No
January-March 2016 January-March 2015 +/-%
Operating revenues (RMB) 4,239,779,074.70 3,293,972,545.08 28.71%
Net profit attributable to shareholders of the
317,052,211.46 242,314,468.72 30.84%
Company (RMB)
Net profit attributable to shareholders of the
311,794,446.12 245,540,671.19 26.98%
Company after exceptional profit and loss (RMB)
Net operating cash flow (RMB) 573,548,265.90 394,282,134.54 45.47%
Basic earnings per share (RMB/share) 0.50 0.38 31.58%
Diluted earnings per share (RMB/share) 0.50 0.38 31.58%
Weighted average return on equity (%) 6.00% 5.33% 0.67%
31 March 2016 31 December 2015 +/-%
Total assets (RMB) 14,927,470,103.94 14,327,655,366.60 4.19%
Net assets attributable to shareholders of the
5,460,647,864.77 5,124,866,173.14 6.55%
Company (RMB)
Note: In the fourth quarter of 2015, “to make financial investments with the Company’s own funds” was added to
the business scope of the Company. As such, profit/loss on financial investments has been restated as recurrent
profit/loss. In order to help investors better understand the business results of the Company, the “net profit
attributable to shareholders of the Company after exceptional profit and loss” for January-March 2015 is restated
in the above table on the same basis.
Exceptional profit and loss
√ Applicable □ Not applicable
Unit: RMB
Item January-March 2016 Note
Profit/loss on disposal of non-current assets (including offset amount of
99,572.65
asset impairment provisions)
Government grants charged to the profit/loss for the Reporting Period
(except for the government grants closely related to the business of the
6,222,716.87
Company and given at a fixed quota or amount in accordance with the
State’s uniform standards)
The Report for the First Quarter of 2016 of Wuxi Little Swan Company Limited
Non-operating income and expense other than the above 1,362,249.97
Less: Corporate income tax 1,152,680.92
Minority interests (after tax) 1,274,093.23
Total 5,257,765.34 --
Explain the reasons if the Company classifies an item as exceptional profit/loss according to the definition in the
Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the
Public—Exceptional Profit and Loss, or classifies any exceptional profit/loss item mentioned in the said
explanatory announcement as recurrent profit/loss
□ Applicable √ Not applicable
No such cases in the Reporting Period.
II Total number of shareholders at the period-end and shareholdings of top ten shareholders
1. Numbers of common shareholders and preference shareholders with resumed voting rights as well as
shareholdings of top ten shareholders
Unit: share
Total number of common Total number of preference shareholders with resumed
20,826
shareholders at the period-end voting rights at the period-end (if any)
Shareholdings of top ten shareholders
Number of Pledged or frozen
Shareholding
Number of restricted shares
Name of shareholder Nature of shareholder percentage
shares held shares Status of Number
(%)
held shares of shares
Domestic non-state-owned
MIDEA GROUP CO., LTD. 37.78% 238,948,117
corporation
TITONI INVESTMENTS
Foreign corporation 14.89% 94,204,942
DEVELOPMENT LTD.
GAOLING FUND, L.P. Foreign corporation 3.43% 21,694,456
FINANCE BUREAU OF WUXI On behalf of the State 2.70% 17,054,071
NATIONAL SOCIAL SECURITY Domestic non-state-owned
2.33% 14,727,290
FUND PORTFOLIO 101 corporation
GREENWOODS CHINA ALPHA
Foreign corporation 2.17% 13,742,333
MASTER FUND
NATIONAL SOCIAL SECURITY Domestic non-state-owned
1.98% 12,499,640
FUND PORTFOLIO 108 corporation
CENTRAL HUIJIN ASSET
State-owned corporation 1.61% 10,156,300
MANAGEMENT CO., LTD.
The Report for the First Quarter of 2016 of Wuxi Little Swan Company Limited
NORGES BANK Foreign corporation 0.64% 4,023,181
CHINA RESOURCES SZITIC
TRUST CO., LTD.－JINGLIN Domestic non-state-owned
0.56% 3,529,712
DIANJIN TRUST PLAN NO. 2 OF corporation
ASSEMBLED FUNDS
Shareholdings of top ten non-restricted shareholders
Number of Variety of shares
Name of shareholder non-restricted shares
Variety Number
held
MIDEA GROUP CO., LTD. 238,948,117 RMB common shares 238,948,117
Domestically listed
TITONI INVESTMENTS DEVELOPMENT LTD. 94,204,942 94,204,942
foreign shares
Domestically listed
GAOLING FUND, L.P. 21,694,456 21,694,456
foreign shares
FINANCE BUREAU OF WUXI 17,054,071 RMB common shares 17,054,071
NATIONAL SOCIAL SECURITY FUND PORTFOLIO 101 14,727,290 RMB common shares 14,727,290
Domestically listed
GREENWOODS CHINA ALPHA MASTER FUND 13,742,333 13,742,333
foreign shares
NATIONAL SOCIAL SECURITY FUND PORTFOLIO 108 12,499,640 RMB common shares 12,499,640
CENTRAL HUIJIN ASSET MANAGEMENT CO., LTD. 10,156,300 RMB common shares 10,156,300
Domestically listed
NORGES BANK 4,023,181 4,023,181
foreign shares
CHINA RESOURCES SZITIC TRUST CO., LTD.－JINGLIN
3,529,712 RMB common shares 3,529,712
DIANJIN TRUST PLAN NO. 2 OF ASSEMBLED FUNDS
Related or acting-in-concert parties among the above MIDEA GROUP CO., LTD. and TITONI INVESTMENTS
shareholders DEVELOPMENT LTD. are parties acting in concert.
Did any of the top ten common shareholders or the top ten non-restricted common shareholders of the Company
conduct any promissory repo during the Reporting Period?
□ Yea √ No
No such cases in the Reporting Period.
2. Total number of preference shareholders and shareholdings of the top ten of them
□ Applicable √ Not applicable
The Report for the First Quarter of 2016 of Wuxi Little Swan Company Limited
Section III Significant Events
I Changes in major accounting statement items and financial indicators for the Reporting
Period, as well as reasons for such changes
Unit: RMB Ten Thousand Yuan
Statement item 31 March 2016 31 December 2015 +/- +/-% Note
Accounts receivable 123,441.91 89,607.55 33,834.36 38% The sales volume increased.
Accounts paid in
14,891.89 9,762.86 5,129.03 53% Prepayments for materials increased.
advance
Other receivables 601.94 920.82 -318.88 -35% Suspense payments were taken back.
Self-drawn banker’s acceptance bills
Notes payable 264,101.15 195,306.53 68,794.62 35%
were adopted more often in payment.
Accounts received in
93,313.14 165,290.88 -71,977.74 -44% Due to the sales cycle
advance
The performance bonuses for the year
Payroll payable 16,582.51 24,828.07 -8,245.56 -33%
2015 had been paid.
Other composite The fair value of bank financial products
4,613.77 3,481.33 1,132.44 33%
income increased.
Statement item January-March 2016 January-March 2015 +/- +/-% Note
Business tax and The turnover tax increased due to the
2,556.27 1,712.85 843.42 49%
surtaxes production and sales cycle.
Selling expenses 63,139.65 47,235.74 15,903.91 34% The sales volume increased.
The interest income on deposits
Financial costs -3,069.37 -1,191.45 -1,877.92 -158%
increased.
Last year saw fair value changes in
Profit on fair value
0.00 -2.83 2.83 -100% forward forex contracts while there were
changes
no such contracts in the Current Period.
Non-operating Last year saw loss on disposal of waste
229.33 339.14 -109.81 -32%
expense fixed assets.
Total profit 42,711.98 32,645.19 10,066.79 31% The sales volume increased.
Corporate income tax 6,607.35 4,928.85 1,678.50 34% The total profit increased.
The cash received from sale of goods
Net operating cash
57,354.83 39,428.21 17,926.62 45% and rendering of services increased as
flow
the sales volume rose.
The cash paid for investment increased
Net investment cash
-120,661.14 -71,505.40 -49,155.74 -69% as the Company increased its investment
flow
in bank financial products.
The Report for the First Quarter of 2016 of Wuxi Little Swan Company Limited
II Progress of significant events and analysis & explanations on their influence and solutions
□ Applicable √ Not applicable
III Commitments of the Company, its shareholders, actual controller, acquirer, directors,
supervisors, senior management or other related parties fulfilled in the Reporting Period or
ongoing at the period-end
Date of
Commitment Type of Term of
Commitment Contents commitment Fulfillment
maker commitment commitment
making
Where the controlling shareholder Midea Group plans to sell
the Company’s shares released from trading moratorium held
Commitmen by it via the bid trading system of the Shenzhen Stock
Commitments
Controlling t concerning Exchange, and Midea Group decreases over 5% shares within Long-standi
made in share 2008.02.28 In execution
shareholder shareholding six months since the first reduction of holdings, Midea Group ng
reform
reduction will disclose an indicative public announcement on share
selling through the Company two trading days before its first
reduction of holdings.
1. As for the commitment of avoiding horizontal competition,
Midea Group (the controlling shareholder) and Mr. He
Xiangjian (the actual controller) has promised that, for the
period after the said transaction when the Company’s
controlling shareholder and actual controller remain
unchanged, the actual controller Mr. He Xiangjian, his
immediate family, Midea Group and its controlled other
enterprises neither recently nor in the future will engage in
