2021 First Quarter Report
Of
Chongqing Changan Automobile Company Limited
April, 2021
Chapter 1 Important NotesThe Board of Directors, the Supervisory Committee and directors, supervisors and seniormanagement of Chongqing Changan Automobile Company Limited (hereinafter referred to as “theCompany”) hereby guarantee that no false or misleading statement or major omission was made tothe materials in this report and that they will assume all the responsibilities, individually and jointly,for the trueness, accuracy and completeness of the contents of this report.All directors attended the board meeting for reviewing the first quarter report.The Chairman of the Board Zhu Huarong, the Chief Financial Officer Zhang Deyong and theresponsible person of the accounting institution (Accountant in charge) Chen Jianfeng herebydeclare that the Financial Statements enclosed in this annual report are true, accurate and complete.The report shall be presented in both Chinese and English, and should there be any conflictingunderstanding of the text, the Chinese version shall prevail.
Chapter 2 Basic Information
I. Main accounting data and financial indicatorsDoes the company need to retrospectively adjust or restate the accounting data of previous years
√Yes □No
Reasons for retrospective adjustment or restatement: changes in accounting policies
In RMB Yuan
The reporting period | The same period of last year | Variance (%) | ||
Before adjustment | After adjustment | After adjustment | ||
Operating income | 32,027,320,806.54 | 11,564,077,463.34 | 11,564,077,463.34 | 176.96% |
Net profit attributable to shareholders of the Company | 853,585,805.31 | 631,077,888.63 | 631,077,888.63 | 35.26% |
Net profit excluding non-recurring gains and losses attributable to shareholders of listed company | 720,085,110.43 | -1,793,324,817.62 | -1,793,324,817.62 | 140.15% |
cash flow from operating activities | 7,236,025,541.31 | 4,155,344,266.52 | 4,155,344,266.52 | 74.14% |
Basic earnings per share | 0.16 | 0.13 | 0.13 | 23.08% |
Diluted earnings per share | N/A | N/A | N/A | N/A |
Weighted average return on net assets | 1.58% | 1.42% | 1.42% | Up 0.16 Points |
At the end of the reporting period | End of 2020 | Variance (%) | ||
Before adjustment | After adjustment | After adjustment | ||
Total assets | 127,989,062,491.55 | 120,915,805,349.52 | 118,265,186,394.85 | 8.22% |
Net assets attributable to shareholders of listed company | 54,846,284,914.36 | 53,410,193,236.09 | 53,410,193,236.09 | 2.69% |
Item | Amount of the period from the beginning of year to the end of report term | Explanation |
Gain/loss of non-current assets | 9,257,168.41 | |
Government subsidies accounted into current gain/loss account, other than those closely related to the Company’s common business, comply with the national policy and continues to enjoy at certain fixed rate or amount. | 153,059,746.06 | |
Interest on deferred payment of funds received by non financial enterprises | 10,136,218.01 | |
In addition to the effective hedging business related to the normal operation of the company, the fair value change profit and loss arising from the holding of trading financial assets, derivative financial assets, trading financial liabilities and derivative financial liabilities | -31,345,241.34 | |
Gains and losses from external entrusted loans | 3,385,613.22 | |
Other non-business income and expenditures other than the above | 9,717,311.60 | |
Less: Influenced amount of income tax | 4,055,612.77 | |
Influenced amount of minority shareholders’ equity | 16,654,508.31 | |
Total | 133,500,694.88 |
According to “Public offering of securities information disclosure of the company's information disclosure announcement No. 1 –non-recurring gains and losses “Public offering of securities information disclosure of the company's information disclosureannouncement No. 1 – non-recurring gains and losses” defined non-recurring items ,and Public offering of securities informationdisclosure of the company's information disclosure announcement No. 1 - non-recurring gains and losses “The items listed in thenon-recurring items defined as recurring items shall be explained.
□ Applicable √Not applicable
The company in the reporting period does not base on the definition and listing of “Public offering of securities informationdisclosure of the company's information disclosure announcement No. 1 – non-recurring gains and losses” about non-recurring gainsand losses to define a case of recurring profit or loss.II. Total number of shareholders at the end of the reporting period and statement on sharesheld by the top ten tradable shareholders
1. Total number of shareholders at the end of the reporting period and statement on shares held by the topten shareholders
Unit: share
As of the reporting period, the total number of shareholders | 381,802 | |||||||
Top 10 Shareholders | ||||||||
Name of the shareholder | Properties of shareholder | Shareholding (%) | Number of shares | Conditional shares | Pledging or freezing | |||
Share status | Amount | |||||||
China Changan Automobile Co., Ltd. | State-owned legal person shares | 18.78% | 1,021,502,890 | 93,457,944 | No pledge or frozen | - | ||
China South Industries Group Co., Ltd. | State-owned legal person shares | 13.98% | 760,304,571 | 2,764,486 | No pledge or frozen | - | ||
Southern Industrial Asset Management Co., Ltd. | State-owned legal person shares | 7.11% | 386,915,888 | 186,915,888 | No pledge or frozen | - | ||
China Securities Finance Corporation Limited | domestic general legal person shares | 4.31% | 234,265,333 | No pledge or frozen | - | |||
Hong Kong Securities Clearing Company Limited | foreign legal person shares | 3.74% | 203,191,650 | No pledge or frozen | - | |||
United Prosperity (Hongkong) Investment Co., Limited | foreign legal person shares | 2.83% | 154,120,237 | No pledge or frozen | - | |||
China Galaxy Securities Co., Ltd. | domestic general legal person shares | 0.70% | 38,318,957 | 38,317,757 | No pledge or frozen | - | ||
JPMORGAN CHASE BANK,NATIONAL ASSOCIATION | foreign legal person shares | 0.60% | 32,710,378 | 32,710,280 | No pledge or frozen | - | ||
CAPE ANN GLOBAL DEVELOPING MARKETS FUND | foreign legal person shares | 0.42% | 22,867,612 | No pledge or frozen | - | |||
Guotai Junan Securities Co., Ltd. | domestic general legal person shares | 0.40% | 21,843,893 | 14,018,691 | No pledge or frozen | - | ||
Top 10 holders of unconditional shares | ||||||||
Name of the shareholder | Amount of shares without sales restriction | Category of shares | ||||||
Category of shares | Amount | |||||||
China Changan Automobile Co., Ltd. | 928,044,946 | RMB ordinary shares | 928,044,946 | |||||
China South Industries Group Co., Ltd. | 757,540,085 | RMB ordinary shares | 757,540,085 | |||||
China Securities Finance Corporation Limited | 234,265,333 | RMB ordinary shares | 234,265,333 | |||||
Hong Kong Securities Clearing Company Limited | 203,191,650 | RMB ordinary shares | 203,191,650 | |||||
Southern Industrial Asset Management Co., Ltd. | 200,000,000 | RMB ordinary shares | 200,000,000 | |||||
United Prosperity (Hongkong) Investment Co., Limited | 154,120,237 | Domestic listed foreign shares | 154,120,237 | |||||
CAPE ANN GLOBAL DEVELOPING MARKETS FUND | 22,867,612 | Domestic listed foreign shares | 22,867,612 |
CHINA INT'L CAPITAL CORP HONG KONG SECURITIES LTD | 20,937,863 | Domestic listed foreign shares | 20,937,863 |
GIC PRIVATE LIMITED | 19,605,410 | Domestic listed foreign shares | 19,605,410 |
Haitong International Securities Company Limited-Account Client | 19,162,244 | Domestic listed foreign shares | 19,162,244 |
Explanation on the relationship and the action alike of above shareholders | Among the top 10 shareholders, China South Industries Group Co., Ltd., With its wholly-owned subsidiary, Southern Industrial Asset Management Co., Ltd., the actual controller; China Changan Automobile Group Co., Ltd., the controlling shareholder, and its wholly owned subsidiary United Prosperity (Hong Kong) Investment Co., Limited. belong to the concerted actor regulated by “Disclosure Administration of Shares Change Information of The Listed Company”. | ||
Explanation of the Top 10 Shareholders' Participation in Margin Trading | China South Industries Group Co., Ltd. participated in the refinancing securities lending business. As of the end of the reporting period, 43,540,000 shares had been lent. The ownership of the refinancing securities lending shares will not be transferred. |
Chapter 3 Important Matters
I. Significant changes & reasons in major accounting data, financial indicators
√Applicable □Not Applicable
As of the end of the reporting period, the company's total assets were 127.989 billion yuan, total liabilities were 73.071 billion yuan, and the asset-liability ratio was 57.09%, an increase of 2.29 percentage points from the beginning of the year. During the reporting period, the balance of prepayments decreased from the beginning of the year, mainly due to the receipt of prepayment related materials; the decrease in inventory was mainly due to the increase in sales; the decrease in development expenditure was mainly due to the transfer of intangible assets; the decrease in taxes payable was mainly due to the payment of taxes. During the reporting period, total operating income, operating costs, taxes and surcharges, and sales expenses increased year-on-year, mainly due to the increase in product sales during the quarter. The year-on-year increase in management expenses was mainly due to the accrual of fuel and new energy points costs and the increase in employee compensation. The year-on-year decrease in financial expenses was mainly due to the increase in interest income. The year-on-year decrease in investment income was mainly due to the dilution of Chongqing Changan New Energy Automobile Technology Co., Ltd.'s equity in 2020, and the company confirmed the investment income. The decrease in the gains from changes in fair value year-on-year was mainly due to the gains from changes in the fair value of Ningde Times stocks in 2020. Ningde Times stocks have been disposed of in 2020. The year-on-year decrease in income tax expenses was mainly due to the increase in deferred income tax assets. During the reporting period, the company's net increase in cash and cash equivalents was 7.428 billion yuan, an increase of 121.96% year-on-year, mainly due to the substantial increase in net cash flow from operating activities. The net cash flow from operating activities was 7.236 billion yuan, an increase of 74.14% year-on-year, mainly due to the substantial increase in cash received from the sale of goods and the provision of services. The net cash flow from investment activities was -457 million yuan, an increase of 78.22% year-on-year, mainly due to the significant decrease in other cash paid for investment activities. The net cash flow from financing activities was 651 million yuan, a year-on-year decrease of 50.17%, mainly due to the substantial decrease in cash received | ||||||
from absorbing investments.
II. The progress and influence of significant events and the analysis and explanation onresolving proposal
√Applicable □Not Applicable
On February 1, 2021, the company held the eleventh meeting of the eighth session of the board of directors, and reviewed andapproved two proposals related to the revision of the restricted stock incentive plan. For details, please refer to the "Resolutions ofthe Eleventh Meeting of the Eighth Board of Directors" Announcement (Announcement Number: 2021-05).On February 18, 2021, the company held the first extraordinary general meeting of shareholders in 2021, and reviewed andapproved 3 proposals related to the restricted stock incentive plan. For details, please refer to the "Announcement on Resolutions ofthe First Extraordinary General Meeting of 2021" (Announcement) Number: 2021-13).
On February 22, 2021, the company held the twelfth meeting of the eighth session of the board of directors, at which it reviewedand approved the "Proposal on Adjusting the List of Restricted A Shares Incentive Plan and the Number of Incentives Granted" and"Regarding the Restriction of A Shares" The Proposal for the First Grant of Restricted Stocks to Incentives of the Stock IncentivePlan. For details, please refer to the "Announcement on Resolutions of the Twelfth Meeting of the Eighth Board of Directors"(Announcement Number: 2021-14).
On March 5, 2021, the shares granted by equity incentives is listed for circulation. For details, please refer to the "Announcementon Completion of Registration for the First Grant of A Share Restricted Stock Incentive Plan" (Announcement No.: 2021-20).
Implementation progress of share repurchase
□Applicable √Not Applicable
Progress in the implementation of reducing share buyback through centralized bidding
□Applicable √Not Applicable
III. Commitments made within the reporting period by the controlling shareholders,shareholders, related party, acquirer and the company overdue and not fulfilled
□Applicable √Not Applicable
During the reporting period, the company's actual controllers, shareholders, related parties, purchasers and companies and othercommitment parties don’t have any overdue unfulfilled commitments.IV. Forecast of operation performance from Jan. – June of 2021
The warning or a reason for a loss or a significant change of cumulative net profit from the beginning of the year to the end of thenext reporting period compared with the same period of last year
□Applicable √Not Applicable
V. Securities Investment
1. Equity-holdings in financial enterprises
√Applicable □Not Applicable
Security variety | Stock code | Stock name | Initial investment cost (RMB Yuan) | Opening equity Holdings (share) | Opening equity holding ratio (%) | Closing equity holdings (share) | Closing equity Holdings (%) | Closing book value (RMB Yuan) | Gain/loss in the reporting period (RMB Yuan) | Accounting title | Equity source |
Stock | 600369 | Southwest Securities | 50,000,000 | 33,630,000 | 0.51% | 33,630,000 | 0.51% | 156,715,800 | -24,213,600 | Transactional financial assets | Initial investment |
Total | 50,000,000 | 33,630,000 | -- | 33,630,000 | -- | 156,715,800 | -24,213,600 |
2. Derivative Investments
□Applicable √Not Applicable
During the company's reporting period, there is no derivative investment.VI. Progress of investment projects with raised funds
√Applicable □Not Applicable
During the reporting period, “committed investment projects” used raised funds totaling 253.0548 million yuan, and the net interestincome obtained from the special account for raised funds during the reporting period was 11.8674 million yuan. As of March 31,2021, the raised funds have been directly invested in fund-raising projects of 3505.1402 million yuan (including supplementaryworking capital projects of 1800 million yuan), the accumulated net interest income from the special account for raised funds was
22.6168 million yuan, and the balance of the raised funds was 2504.3167 million yuan.
VII. Major contracts for daily operation
□Applicable √Not Applicable
VIII. Entrusted financial management
□Applicable √Not Applicable
There is no entrusted financial management during the reporting period.IX. Illegal external guarantee
□Applicable √Not Applicable
The company doesn’t violate the rules of external guarantee during the reporting period.X. Controlling shareholder and its related parties to the listing Corporation's non-operatingfunds
□Applicable √Not Applicable
During the reporting period, there is no non-operating capital occupied by the controlling shareholder and its related parties to thelisted company.XI. Interviews and visits in the reporting period
√Applicable □Not Applicable
Date | Manner | Object | Content discussed and material offered |
2021.3.3 | On-Site Survey, telephone communication | Institution | For details, see the March 5, 2021 Shenzhen stock exchange interactive (http://irm.cninfo.com.cn) on the Changan Automobile: March 3, 2020 investor relations activities record sheet |
Chapter 4 Financial Statements
I. Financial Statements
1. Consolidated Balance Sheet
Prepared by: CHONGQING CHANGAN AUTOMOBILE CO., LTD.
March 31, 2021
In RMB Yuan
Account | 2021.3.31 | 2020.12.31 |
Current assets: | ||
Cash | 39,255,172,266.74 | 32,001,775,600.07 |
Trading financial assets | 172,909,158.66 | 204,254,400.00 |
Notes receivable | 33,188,863,184.35 | 28,371,541,054.75 |
Accounts receivable | 2,195,171,039.65 | 2,141,197,139.45 |
Prepayments | 217,323,536.22 | 460,703,603.80 |
Other receivables | 617,382,928.77 | 723,919,037.36 |
Inventories | 4,139,263,364.19 | 5,967,516,230.57 |
Contract assets | 1,409,293,533.41 | 1,450,031,414.61 |
Other current assets | 1,605,747,167.26 | 1,568,711,870.61 |
Total current assets | 82,801,126,179.25 | 72,889,650,351.22 |
Non-current assets: | ||
Long-term equity investments | 12,389,940,077.21 | 12,109,089,795.67 |
Investment in other equity instruments | 691,990,000.00 | 691,990,000.00 |
Investment properties | 6,819,460.27 | 6,876,138.16 |
Fixed assets | 23,973,970,838.30 | 24,298,402,558.49 |
Construction in progress | 903,207,112.78 | 1,048,036,148.70 |
Right-of-use asset | 61,073,778.92 | - |
Intangible assets | 4,530,941,810.81 | 4,433,771,236.26 |
Development expenditure | 372,952,680.61 | 596,577,787.95 |
Goodwill | 48,883,188.37 | 48,883,188.37 |
Long-term deferred expenses | 11,734,850.68 | 10,642,512.51 |
Deferred tax assets | 2,196,422,514.35 | 2,131,266,677.52 |
Total non-current assets | 45,187,936,312.30 | 45,375,536,043.63 |
TOTAL ASSETS | 127,989,062,491.55 | 118,265,186,394.85 |
Current liabilities: | ||
Short-term loans | 558,000,000.00 | 578,000,000.00 |
Notes payable | 21,643,827,043.44 | 17,574,014,553.46 |
Accounts payable | 26,991,165,603.27 | 23,118,793,794.42 |
Contract liability | 4,613,841,527.95 | 4,471,158,190.75 |
Payroll payable | 1,737,635,550.55 | 2,015,868,366.57 |
Taxes payable | 498,101,187.52 | 1,292,001,263.86 |
Other payables | 4,476,574,969.60 | 4,475,215,625.98 |
Non-current liabilities within one year | 100,054,857.28 | 100,000,000.00 |
Other current liabilities | 6,817,884,263.93 | 5,842,758,104.08 |
Total current liabilities | 67,437,085,003.54 | 59,467,809,899.12 |
Non-current liabilities: | ||
Long-term loans | 955,300,000.00 | 955,300,000.00 |
Lease liability | 60,484,054.10 | - |
Long-term payables | 241,555,450.79 | 261,260,928.70 |
Long-term payroll payable | 39,501,978.16 | 41,634,000.00 |
Estimated liabilities | 3,439,256,762.04 | 3,125,170,942.46 |
Deferred Revenue | 787,102,655.40 | 818,398,430.21 |
Deferred tax liabilities | 110,939,521.14 | 115,304,728.61 |
Total non-current liabilities | 5,634,140,421.63 | 5,317,069,029.98 |
Total liabilities | 73,071,225,425.17 | 64,784,878,929.10 |
Owners’ equity (or Shareholders’ equity): | ||
Share capital | 5,439,591,574.00 | 5,363,396,174.00 |
Capital reserves | 11,388,509,086.42 | 10,930,781,918.64 |
Other comprehensive income | 101,928,900.48 | 78,420,720.78 |
Special reserves | 65,922,568.89 | 40,847,443.41 |
Surplus reserves | 2,681,698,087.00 | 2,681,698,087.00 |
Retained earnings | 35,168,634,697.57 | 34,315,048,892.26 |
Equity attributable to owners | 54,846,284,914.36 | 53,410,193,236.09 |
Minority interests | 71,552,152.02 | 70,114,229.66 |
Total Owners’ equity (or Shareholders’ equity) | 54,917,837,066.38 | 53,480,307,465.75 |
Liabilities and owners' equity (or shareholders' equity) in total | 127,989,062,491.55 | 118,265,186,394.85 |
Account | 2021.3.31 | 2020.12.31 |
Current assets: | ||
Cash | 33,280,567,130.30 | 25,238,014,025.38 |
Trading financial assets | 156,715,800.00 | 180,929,400.00 |
Notes receivable | 31,611,447,120.59 | 27,248,111,565.13 |
Accounts receivable | 6,303,832,803.63 | 5,464,541,185.63 |
Prepayments | 45,256,018.54 | 294,088,044.01 |
Other receivables | 1,584,181,286.67 | 1,990,616,778.83 |
Inventories | 2,730,351,086.60 | 4,332,579,774.46 |
Contract assets | 914,624,005.60 | 941,046,613.60 |
Other current assets | 310,655,546.94 | 322,467,261.74 |
Total current assets | 76,937,630,798.87 | 66,012,394,648.78 |
Non-current assets: | ||
Long-term equity investments | 16,338,104,282.42 | 15,911,304,527.87 |
Investment in other equity instruments | 681,630,000.00 | 681,630,000.00 |
Fixed assets | 18,095,123,730.85 | 18,282,163,718.91 |
Construction in progress | 498,520,058.30 | 586,144,839.34 |
Right-of-use asset | 58,800,812.73 | - |
Intangible assets | 3,270,375,608.83 | 3,166,081,547.59 |
Development expenditure | 340,611,070.84 | 555,569,523.02 |
Long-term deferred expenses | 8,319,408.86 | 7,470,626.86 |
Deferred tax assets | 1,889,919,258.48 | 1,803,491,965.40 |
Total non-current assets | 41,181,404,231.31 | 40,993,856,748.99 |
TOTAL ASSETS | 118,119,035,030.18 | 107,006,251,397.77 |
Current liabilities: | ||
Short-term loans | 510,000,000.00 | 510,000,000.00 |
Notes payable | 18,570,789,242.23 | 14,600,240,612.86 |
accounts payable | 23,933,606,717.45 | 18,770,044,628.44 |
Contract liability | 3,896,570,628.50 | 3,885,522,883.33 |
Payroll payable | 1,443,950,832.63 | 1,604,474,120.45 |
Taxes payable | 300,520,162.79 | 1,045,768,022.62 |
Other payables | 3,547,287,239.92 | 3,166,636,684.63 |
Non-current liabilities due within one year | 100,000,000.00 | 100,000,000.00 |
Other current liabilities | 5,986,733,397.74 | 5,235,294,795.79 |
Total current liabilities | 58,289,458,221.26 | 48,917,981,748.12 |
Non-current liabilities: | ||
Long-term loans | 955,300,000.00 | 955,300,000.00 |
Lease liability | 58,367,526.23 | - |
Long-term payables | 181,269,821.39 | 187,142,303.66 |
Long-term payroll payable | 19,651,794.06 | 21,657,000.00 |
Estimated liabilities | 2,511,092,012.02 | 2,196,924,682.57 |
Deferred Revenue | 150,000,000.00 | 150,000,000.00 |
Deferred tax liabilities | 71,526,611.38 | 75,158,651.38 |
Total non-current liabilities | 3,947,207,765.08 | 3,586,182,637.61 |
Total liabilities | 62,236,665,986.34 | 52,504,164,385.73 |
Owners’ equity (or Shareholders’ equity): | ||
Share capital | 5,439,591,574.00 | 5,363,396,174.00 |
Capital reserves | 10,898,624,070.30 | 10,440,896,902.52 |
Other comprehensive income | 159,954,052.00 | 159,954,052.00 |
Special reserves | 14,150,864.62 | 7,505,438.57 |
Surplus reserves | 2,681,698,087.00 | 2,681,698,087.00 |
Retained earnings | 36,688,350,395.92 | 35,848,636,357.95 |
Total Owners’ equity (or Shareholders’ equity) | 55,882,369,043.84 | 54,502,087,012.04 |
Liabilities and owners' equity (or shareholders' equity) in total | 118,119,035,030.18 | 107,006,251,397.77 |
Account | Current Period | Prior Period |
I. Total operating income | 32,027,320,806.54 | 11,564,077,463.34 |
Less: Operating cost | 27,508,384,891.85 | 10,504,652,155.97 |
Tax and surcharges | 1,139,344,789.09 | 443,622,963.22 |
Operating expenses | 1,010,369,424.61 | 649,835,784.68 |
General and administrative expenses | 1,244,629,210.77 | 398,803,812.20 |
R&D expenses | 710,391,890.16 | 696,517,648.90 |
Financial expenses | -105,473,984.82 | -27,860,921.06 |
Add: Other income | ||
Investment income (‘-‘ represent loss) | 284,235,894.75 | 1,452,112,755.17 |
Investment income from associates and from joint venture | 280,338,657.91 | -667,413,071.43 |
Earnings from fair value changes | -31,345,241.34 | 341,035,600.71 |
Impairment of credit | -1,681,788.85 | -2,142,668.54 |
Asset disposal income | 9,257,168.41 | 1,354,464.30 |
II. Operating profit (‘-’ represent loss) | 780,140,617.85 | 690,866,171.07 |
Add: Non-operating income | 10,387,052.00 | 6,811,073.58 |
Less: Non-operating expenses | 669,740.40 | 6,491,243.42 |
III. Total profit(‘-’ represent loss) | 789,857,929.45 | 691,186,001.23 |
Less: Income tax expense | -65,165,798.22 | 67,615,994.89 |
IV. Net profit (‘-’ represent net loss) | 855,023,727.67 | 623,570,006.34 |
I) Net profit from continuing operations | 855,023,727.67 | 623,570,006.34 |
II) Net profit from discontinued operations | ||
Net profit attributable to owners | 853,585,805.31 | 631,077,888.63 |
Minority interests | 1,437,922.36 | -7,507,882.29 |
V. Other comprehensive income, net of tax | 23,508,179.70 | -9,000,909.71 |
Total comprehensive income attributable to owners, net of tax | 23,508,179.70 | -9,000,909.71 |
I) Other comprehensive income not to be reclassified to profit or loss in subsequent periods | 155,000.00 | -38,000.00 |
Change from defined benefit plan | 155,000.00 | -38,000.00 |
II) Other comprehensive income to be reclassified to profit or loss in subsequent periods | 23,353,179.70 | -8,962,909.71 |
Foreign currency reserve | 23,353,179.70 | -8,962,909.71 |
VI. Total comprehensive income | 878,531,907.37 | 614,569,096.63 |
Total comprehensive income attributable to owners | 877,093,985.01 | 622,076,978.92 |
Total comprehensive income attributable to minority interest | 1,437,922.36 | -7,507,882.29 |
VII. Earnings per share: | ||
I) Basic earnings per share | 0.16 | 0.13 |
II) Diluted earnings per share | 0.16 | 0.13 |
Account | Current Period | Prior Period |
I. Operating income | 30,376,645,267.72 | 10,675,079,250.36 |
Less: Operating cost | 26,524,375,588.05 | 10,001,993,927.70 |
Tax and surcharges | 834,751,224.47 | 291,774,994.51 |
Operating expenses | 849,385,869.12 | 470,740,974.96 |
General and administrative expenses | 1,129,211,744.22 | 206,455,978.44 |
R&D expenses | 684,046,695.33 | 699,618,911.59 |
Financial expenses | -72,586,754.26 | -31,674,277.08 |
Add: Other income | ||
Investment income (‘-‘ represent loss) | 335,945,304.87 | 113,578,786.80 |
Investment income from associates and from joint venture | 331,419,754.55 | -618,249,269.01 |
Earnings from fair value changes | -24,213,600.00 | -23,785,000.00 |
Impairment of credit | -1,113,674.23 | -1,493,618.14 |
Asset disposal income | 4,845,248.97 | - |
II. Operating profit (‘-’ represent loss) | 742,924,180.40 | -875,531,091.10 |
Add: Non-operating income | 6,730,962.63 | 3,519,692.63 |
Less: Non-operating expenses | 438.13 | 778,677.68 |
III. Total profit(‘-’ represent loss) | 749,654,704.90 | -872,790,076.15 |
Less: Income tax expense | -90,059,333.07 | 3,063,866.43 |
IV. Net profit (‘-’ represent net loss) | 839,714,037.97 | -875,853,942.58 |
I) Net profit from continuing operations | 839,714,037.97 | -875,853,942.58 |
II) Net profit from discontinued operations | ||
V. Other comprehensive income, net of tax | ||
VI. Total comprehensive income | 839,714,037.97 | -875,853,942.58 |
VII. Earnings per share: | ||
I) Basic earnings per share | 0.16 | -0.18 |
II) Diluted earnings per share | 0.16 | -0.18 |
Account | Current Period | Prior Period |
I. CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Cash received from sale of goods or rendering of services | 30,112,384,312.29 | 21,257,466,605.15 |
Refunds of taxes | 179,407,299.39 | 45,969,851.95 |
Cash received relating to other operating activities | 1,595,191,409.36 | 386,274,604.44 |
Sub-total of cash inflows | 31,886,983,021.04 | 21,689,711,061.54 |
Cash paid for goods and services | 17,418,081,707.69 | 13,417,907,129.60 |
Cash paid to and on behalf of employees | 1,926,702,389.58 | 1,565,688,589.42 |
Cash paid for all types of taxes | 2,904,469,816.33 | 1,078,573,272.46 |
Cash paid relating to other operating activities | 2,401,703,566.13 | 1,472,197,803.54 |
Sub-total of cash outflows | 24,650,957,479.73 | 17,534,366,795.02 |
Net cash flows from operating activities | 7,236,025,541.31 | 4,155,344,266.52 |
II. CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Cash received from investment income | 3,588,750.00 | 3,628,625.00 |
Net cash received from disposal of fixed assets, intangible assets and other long-term assets | 45,138,653.89 | 170,091.83 |
Sub-total of cash inflows | 48,727,403.89 | 3,798,716.83 |
Cash paid for acquisition of fixed assets, intangible assets and other long-term assets | 506,205,977.26 | 566,554,431.22 |
Cash paid for acquisition of investments | - | 13,088,871.00 |
Cash paid relating to other investing activities | - | 1,524,231,229.20 |
Sub-total of cash outflows | 506,205,977.26 | 2,103,874,531.42 |
Net cash flows from investing activities | -457,478,573.37 | -2,100,075,814.59 |
III. CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Absorb cash received from investment | 507,461,364.00 | 1,420,000,000.00 |
Cash received from borrowings | 20,000,000.00 | 150,000,000.00 |
Cash received relating to other financing activities | 174,621,613.52 | 264,541,204.27 |
Sub-total of cash inflows | 702,082,977.52 | 1,834,541,204.27 |
Cash repayments of borrowings | 40,000,000.00 | 20,000,000.00 |
Cash paid for distribution of dividends or profits and interest expenses | 10,836,847.22 | 9,459,181.50 |
Cash paid relating to other financing activities | 241,289.74 | 498,552,580.58 |
Sub-total of cash outflows | 51,078,136.96 | 528,011,762.08 |
Net cash flows from financing activities | 651,004,840.56 | 1,306,529,442.19 |
IV. EFFECT OF CHANGES IN EXCHANGE RATE ON CASH | -1,533,528.30 | -15,306,746.07 |
V. NET INCREASE IN CASH AND CASH EQUIVALENTS | 7,428,018,280.20 | 3,346,491,148.05 |
Add: Opening balance of cash and cash equivalents | 30,655,968,057.63 | 9,360,474,674.89 |
VI. CLOSING BALANCE OF CASH AND CASH EQUIVLANT | 38,083,986,337.83 | 12,706,965,822.94 |
Account | Current Period | Prior Period |
I. CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Cash received from sale of goods or rendering of services | 26,828,012,609.19 | 18,868,422,291.72 |
Refunds of taxes | ||
Cash received relating to other operating activities | 795,160,254.72 | 54,826,509.91 |
Sub-total of cash inflows | 27,623,172,863.91 | 18,923,248,801.63 |
Cash paid for goods and services | 14,846,049,568.22 | 12,099,237,602.48 |
Cash paid to and on behalf of employees | 1,436,120,942.70 | 1,112,718,300.63 |
Cash paid for all types of taxes | 2,394,177,408.28 | 513,342,838.61 |
Cash paid relating to other operating activities | 1,175,567,944.68 | 891,028,153.93 |
Sub-total of cash outflows | 19,851,915,863.88 | 14,616,326,895.65 |
Net cash flows from operating activities | 7,771,257,000.03 | 4,306,921,905.98 |
II. CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Cash received from return on investments | ||
Cash received from investment income | 4,797,083.33 | 5,827,791.67 |
Net cash received from disposal of fixed assets, intangible assets and other long-term assets | 7,508,823.89 | - |
Net cash received from disposal of subsidiaries and other business units | ||
Cash received relating to other investing activities | 200,000,000.00 | - |
Sub-total of cash inflows | 212,305,907.22 | 5,827,791.67 |
Cash paid for acquisition of fixed assets, intangible assets and other long-term assets | 438,041,626.59 | 527,234,258.30 |
Cash paid for acquisition of investments | - | 112,338,871.00 |
Net cash paid for subsidiaries and other business units | ||
Cash paid relating to other investing activities | ||
Sub-total of cash outflows | 438,041,626.59 | 639,573,129.30 |
Net cash flows from investing activities | -225,735,719.37 | -633,745,337.63 |
III. CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Cash received from investors | 507,461,364.00 | - |
Cash received from borrowings | ||
Cash received relating to other financing activities | 200,000.00 | - |
Sub-total of cash inflows | 507,661,364.00 | - |
Cash repayments of borrowings | ||
Cash paid for distribution of dividends or profits and interest expenses | 10,188,250.00 | 3,171,376.00 |
Cash paid relating to other financing activities | 241,289.74 | - |
Sub-total of cash outflows | 10,429,539.74 | 3,171,376.00 |
Net cash flows from financing activities | 497,231,824.26 | -3,171,376.00 |
IV. EFFECT OF CHANGES IN EXCHANGE RATE ON CASH | ||
V. NET INCREASE IN CASH AND CASH EQUIVALENTS | 8,042,753,104.92 | 3,670,005,192.35 |
Add: Opening balance of cash and cash equivalents | 25,190,870,784.06 | 6,563,020,335.56 |
VI. CLOSING BALANCE OF CASH AND CASH EQUIVLANT | 33,233,623,888.98 | 10,233,025,527.91 |
II. Notes on financial statement adjustments
1. The first implementation of the new lease standard from 2021, adjustments to the first implementation ofthe financial statements at the beginning of the year
√Applicable □Not Applicable
Whether to adjust the balance sheet account at the beginning of the year
√Yes □No
Consolidated Balance Sheet
In RMB Yuan
Account | 2020.12.31 | 2021.1.1 | Adjustment |
Current assets: | |||
Cash | 32,001,775,600.07 | 32,001,775,600.07 | |
Trading financial assets | 204,254,400.00 | 204,254,400.00 | |
Notes receivable | 28,371,541,054.75 | 28,371,541,054.75 | |
Accounts receivable | 2,141,197,139.45 | 2,141,197,139.45 | |
Prepayments | 460,703,603.80 | 460,703,603.80 | |
Other receivables | 723,919,037.36 | 723,919,037.36 | |
Inventories | 5,967,516,230.57 | 5,967,516,230.57 | |
Contract assets | 1,450,031,414.61 | 1,450,031,414.61 | |
Other current assets | 1,568,711,870.61 | 1,568,711,870.61 | |
Total current assets | 72,889,650,351.22 | 72,889,650,351.22 | |
Non-current assets: | |||
Long-term equity investments | 12,109,089,795.67 | 12,109,089,795.67 | |
Investment in other equity instruments | 691,990,000.00 | 691,990,000.00 | |
Investment properties | 6,876,138.16 | 6,876,138.16 | |
Fixed assets | 24,298,402,558.49 | 24,298,402,558.49 | |
Construction in progress | 1,048,036,148.70 | 1,048,036,148.70 | |
Right-of-use asset | - | 55,231,380.07 | 55,231,380.07 |
Intangible assets | 4,433,771,236.26 | 4,433,771,236.26 | |
Development expenditure | 596,577,787.95 | 596,577,787.95 | |
Goodwill | 48,883,188.37 | 48,883,188.37 | |
Long-term deferred expenses | 10,642,512.51 | 10,642,512.51 | |
Deferred tax assets | 2,131,266,677.52 | 2,131,266,677.52 | |
Total non-current assets | 45,375,536,043.63 | 45,430,767,423.70 | 55,231,380.07 |
TOTAL ASSETS | 118,265,186,394.85 | 118,320,417,774.92 | 55,231,380.07 |
Current liabilities: | |||
Short-term loans | 578,000,000.00 | 578,000,000.00 | |
Notes payable | 17,574,014,553.46 | 17,574,014,553.46 | |
Accounts payable | 23,118,793,794.42 | 23,118,793,794.42 | |
Contract liability | 4,471,158,190.75 | 4,471,158,190.75 | |
Payroll payable | 2,015,868,366.57 | 2,015,868,366.57 | |
Taxes payable | 1,292,001,263.86 | 1,292,001,263.86 | |
Other payables | 4,475,215,625.98 | 4,475,215,625.98 | |
Non-current liabilities within one year | 100,000,000.00 | 100,000,000.00 |
Other current liabilities | 5,842,758,104.08 | 5,842,758,104.08 | |
Total current liabilities | 59,467,809,899.12 | 59,467,809,899.12 | |
Non-current liabilities: | |||
Long-term loans | 955,300,000.00 | 955,300,000.00 | |
Lease liability | - | 55,231,380.07 | 55,231,380.07 |
Long-term payables | 261,260,928.70 | 261,260,928.70 | |
Long-term payroll payable | 41,634,000.00 | 41,634,000.00 | |
Estimated liabilities | 3,125,170,942.46 | 3,125,170,942.46 | |
Deferred Revenue | 818,398,430.21 | 818,398,430.21 | |
Deferred tax liabilities | 115,304,728.61 | 115,304,728.61 | |
Total non-current liabilities | 5,317,069,029.98 | 5,372,300,410.05 | 55,231,380.07 |
Total liabilities | 64,784,878,929.10 | 64,840,110,309.17 | 55,231,380.07 |
Owners’ equity (or Shareholders’ equity): | |||
Share capital | 5,363,396,174.00 | 5,363,396,174.00 | |
Capital reserves | 10,930,781,918.64 | 10,930,781,918.64 | |
Other comprehensive income | 78,420,720.78 | 78,420,720.78 | |
Special reserves | 40,847,443.41 | 40,847,443.41 | |
Surplus reserves | 2,681,698,087.00 | 2,681,698,087.00 | |
Retained earnings | 34,315,048,892.26 | 34,315,048,892.26 | |
Equity attributable to owners | 53,410,193,236.09 | 53,410,193,236.09 | |
Minority interests | 70,114,229.66 | 70,114,229.66 | |
Total Owners’ equity (or Shareholders’ equity) | 53,480,307,465.75 | 53,480,307,465.75 | |
Liabilities and owners' equity (or shareholders' equity) in total | 118,265,186,394.85 | 118,320,417,774.92 | 55,231,380.07 |
Account | 2020.12.31 | 2021.1.1 | Adjustment |
Current assets: | |||
Cash | 25,238,014,025.38 | 25,238,014,025.38 | |
Trading financial assets | 180,929,400.00 | 180,929,400.00 | |
Notes receivable | 27,248,111,565.13 | 27,248,111,565.13 | |
Accounts receivable | 5,464,541,185.63 | 5,464,541,185.63 | |
Prepayments | 294,088,044.01 | 294,088,044.01 | |
Other receivables | 1,990,616,778.83 | 1,990,616,778.83 | |
Inventories | 4,332,579,774.46 | 4,332,579,774.46 | |
Contract assets | 941,046,613.60 | 941,046,613.60 | |
Other current assets | 322,467,261.74 | 322,467,261.74 | |
Total current assets | 66,012,394,648.78 | 66,012,394,648.78 | |
Non-current assets: |
Long-term equity investments | 15,911,304,527.87 | 15,911,304,527.87 | |
Investment in other equity instruments | 681,630,000.00 | 681,630,000.00 | |
Fixed assets | 18,282,163,718.91 | 18,282,163,718.91 | |
Construction in progress | 586,144,839.34 | 586,144,839.34 | |
Right-of-use asset | - | 52,544,645.37 | 52,544,645.37 |
Intangible assets | 3,166,081,547.59 | 3,166,081,547.59 | |
Development expenditure | 555,569,523.02 | 555,569,523.02 | |
Long-term deferred expenses | 7,470,626.86 | 7,470,626.86 | |
Deferred tax assets | 1,803,491,965.40 | 1,803,491,965.40 | |
Total non-current assets | 40,993,856,748.99 | 41,046,401,394.36 | 52,544,645.37 |
TOTAL ASSETS | 107,006,251,397.77 | 107,058,796,043.14 | 52,544,645.37 |
Current liabilities: | |||
Short-term loans | 510,000,000.00 | 510,000,000.00 | |
Notes payable | 14,600,240,612.86 | 14,600,240,612.86 | |
accounts payable | 18,770,044,628.44 | 18,770,044,628.44 | |
Contract liability | 3,885,522,883.33 | 3,885,522,883.33 | |
Payroll payable | 1,604,474,120.45 | 1,604,474,120.45 | |
Taxes payable | 1,045,768,022.62 | 1,045,768,022.62 | |
Other payables | 3,166,636,684.63 | 3,166,636,684.63 | |
Non-current liabilities due within one year | 100,000,000.00 | 100,000,000.00 | |
Other current liabilities | 5,235,294,795.79 | 5,235,294,795.79 | |
Total current liabilities | 48,917,981,748.12 | 48,917,981,748.12 | |
Non-current liabilities: | |||
Long-term loans | 955,300,000.00 | 955,300,000.00 | |
Lease liability | - | 52,544,645.37 | 52,544,645.37 |
Long-term payables | 187,142,303.66 | 187,142,303.66 | |
Long-term payroll payable | 21,657,000.00 | 21,657,000.00 | |
Estimated liabilities | 2,196,924,682.57 | 2,196,924,682.57 | |
Deferred Revenue | 150,000,000.00 | 150,000,000.00 | |
Deferred tax liabilities | 75,158,651.38 | 75,158,651.38 | |
Total non-current liabilities | 3,586,182,637.61 | 3,638,727,282.98 | 52,544,645.37 |
Total liabilities | 52,504,164,385.73 | 52,556,709,031.10 | 52,544,645.37 |
Owners’ equity (or Shareholders’ equity): | |||
Share capital | 5,363,396,174.00 | 5,363,396,174.00 | |
Capital reserves | 10,440,896,902.52 | 10,440,896,902.52 | |
Other comprehensive income | 159,954,052.00 | 159,954,052.00 | |
Special reserves | 7,505,438.57 | 7,505,438.57 | |
Surplus reserves | 2,681,698,087.00 | 2,681,698,087.00 | |
Retained earnings | 35,848,636,357.95 | 35,848,636,357.95 | |
Total Owners’ equity (or Shareholders’ equity) | 54,502,087,012.04 | 54,502,087,012.04 | |
Liabilities and owners' equity (or shareholders' equity) in total | 107,006,251,397.77 | 107,058,796,043.14 | 52,544,645.37 |
implemented on January 1, 2021. Due to the revision of the above-mentioned accounting standards for enterprises, the companyneeds to adjust the related accounting policies originally adopted.In accordance with the time set by the Ministry of Finance, the company will implement the new lease standards from January 1,2021.
2. Explanation of the retrospective adjustment of the previous comparative data of the new lease standardfor the first time from 2021
□Applicable √Not Applicable
III. Auditors’ ReportWhether the first quarter report has been audited
□ Yes √No
The first quarter report has not been audited.