Stock code: 000017, 200017 Notice No.: 2023-015short form of the stock: Zhonghua-A, Zhonghua-B
Shenzhen China Bicycle Company (Holdings) Limited
The First Quarterly Report of 2023The Company and whole members of the BOD guarantee that the information disclosed is true, accurateand complete, and there are no any fictitious records, misleading statements or important omissions.
Important content reminder:
1. Board of Directors, Board of Supervisory, all directors, supervisors and senior executives of Shenzhen China Bicycle Company(Holdings) Limited (hereinafter referred to as the Company) hereby confirm that there are no any fictitious statements, misleadingstatements, or important omissions carried in this report, and shall take all responsibilities, individual and/or joint, for the reality,accuracy and completion of the whole contents.
2. Principal of the Company, Person in Charge of Accounting Works and Person in Charge of Accounting Organ (AccountingPrincipal) hereby confirm that the Financial Report of the First Quarterly Report is authentic, accurate and complete.
3.Whether the First Quarterly Report is audited
□Yes ?No
I. Main financial data
(1) Main accounting data and financial indexes
Whether it has retroactive adjustment or re-statement on previous accounting data or not
□Yes ?No
| Current Period | Same period of previous year | Increase or decrease in the current Period compared with the same period of previous year (%) | |
| Operation revenue(RMB) | 151,527,917.92 | 50,246,951.40 | 201.57% |
| Net profit attributable to shareholders of the listed company (RMB) | 2,848,657.72 | -903,991.16 | 415.12% |
| Net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses(RMB) | 3,066,157.71 | -1,190,923.81 | 357.46% |
| Net cash flow arising from operating activities(RMB) | -7,545,878.64 | -8,930,326.51 | 15.50% |
| Basic EPS(RMB/Share) | 0.0041 | -0.0016 | 356.25% |
| Diluted EPS(RMB/Share) | 0.0041 | -0.0016 | 356.25% |
| Weighted average ROE | 0.98% | -10.68% | 11.66% |
| End of current Period | End f previous year | Increase or decrease at end of the current Period compared with the end of previous year (%) | |
| Total assets(RMB) | 395,857,898.71 | 397,253,487.93 | -0.35%% |
| Owners’ equity attributable to | 292,977,976.23 | 290,129,318.51 | 0.98% |
shareholders of listedcompany(RMB)
(2) Items and amounts of non-recurring profit (gains)/losses
?Applicable □Not applicable
Unit: RMB/CNY
| Item | Current amount | Note |
| Other non-operating income and expenses other than the above | -289,999.99 | |
| Less: impact on income tax | -72,500.00 | |
| Total | -217,499.99 |
Other gain/loss items that qualified the definition of non-recurring profit (gains)/losses:
□Applicable ?Not applicable
The Company does not have other gain/loss items that qualified the definition of non-recurring profit (gains)/losses
Explanation on those non-recurring gain/loss listed in the “Q&A Announcement No.1 on Information Disclosure for CompaniesOffering Their Securities to the Public --- Extraordinary Profit/loss” defined as recurring gain/loss
□Applicable ?Not applicable
The Company does not have the non-recurring gain/loss listed in the “Q&A Announcement No.1 on Information Disclosure forCompanies Offering Their Securities to the Public --- Extraordinary Profit/loss” defined as recurring gain/loss
(3) Particulars about changes in items of main accounting data and financial index and explanations ofreasons?Applicable □Not applicable
Unit: RMB/CNY
| Item | Period-end/current period | Period-begin/previous period | Y-o-y changes (+,-) | Cause of change |
| Account receivable | 138,170,643.10 | 250,069,301.93 | -44.75% | Recoveries during the Period Recoveries during the Period |
| Inventory | 158,022,696.51 | 48,206,866.81 | 227.80% | Increase the inventory during the Period |
| Account payable | 13,211,053.01 | 2,877,423.23 | 359.13% | Increase in purchases during the Period |
| Operation revenue | 151,527,917.92 | 50,246,951.40 | 201.57% | The operation enlarged due to the completion of fund raising from non-public offering in Q4 of 2022 |
| Operation cost | 143,175,923.57 | 47,249,406.26 | 203.02% | Increase in operation revenue in the current period and corresponding increase in the costs |
| Administrative expenses | 2,378,689.86 | 1,603,942.40 | 48.30% | Increase in operation revenue in the current period and corresponding increase in the administrative expenses |
| Net profit attributable to shareholders of the listed company | 2,848,657.72 | -903,991.16 | 415.12% | The profit growth for the operation enlarged due to the completion of fund raising from non-public offering in Q4 of 2022 |
| Cash received from selling commodities and providing labor services | 282,900,383.10 | 55,844,910.44 | 406.58% | The cash in-flow increased due to the growth of operation revenue in the current Period |
| Cash paid for purchasing commodities and receiving labor service | 293,494,756.99 | 60,349,320.00 | 386.33% | The procurement increased due to the growth of operation revenue in the current Period |
II. Shareholders
(1) Total number of common shareholders and preference shareholders with voting rights recovered andtop ten shareholders
Unit: Share
| Total common shareholders at end of the Period | 46,761 | Total preferred shareholders with voting rights recovered at end of reporting period (if applicable) | 0 | |||
| Top ten shareholders | ||||||
| Full name of Shareholders | Nature of shareholder | Proportion of shares held(%) | Amount of shares held | Amount of restricted shares held | Information of shares pledged, tagged or frozen | |
| State of share | Amount | |||||
| Wansheng Industrial Holdings (Shenzhen) Co., Ltd. | Domestic non-state-owned legal person | 20.00% | 137,836,986.00 | 137,836,986.00 | - | - |
| Shenzhen Guosheng Energy Investment Development Co., Ltd. | Domestic non-state-owned legal person | 9.22% | 63,508,747.00 | 0.00 | - | - |
| UOB Kay Hian (Hong Kong) Limited | Foreign legal person | 2.31% | 15,907,850.00 | 0.00 | - | - |
| Guosen Securities (HK) Brokerage Co., Ltd. | Foreign legal person | 2.02% | 13,909,425.00 | 0.00 | - | - |
| Shenwan Hongyuan Securities (Hong Kong) Co., Ltd. | Foreign legal person | 1.20% | 8,281,156.00 | 0.00 | - | - |
| Lhasa Xingqing Network Technology Co., Ltd. | Domestic non-state-owned legal person | 0.67% | 4,600,255.00 | 0.00 | - | - |
| Li Huili | Domestic nature person | 0.56% | 3,891,124.00 | 0.00 | - | - |
| Ge Zhiqiong | Domestic nature person | 0.44% | 3,050,452.00 | 0.00 | - | - |
| Xu Hongbo | Domestic nature person | 0.42% | 2,927,319.00 | 0.00 | - | - |
| China Merchants Securities (HK) Co., Ltd | Foreign legal person | 0.42% | 2,894,135.00 | 0.00 | - | - |
| Particular about top ten shareholders with un-restrict shares held | ||||||
| Full name of Shareholders | Amount of un-restrict shares held at Period-end | Type of shares | ||||
| Type | Amount | |||||
| Shenzhen Guosheng Energy Investment Development Co., Ltd. | 63,508,747.00 | RMB common shares | 63,508,747.00 | |||
| UOB Kay Hian (Hong Kong) Limited | 15,907,850.00 | Domestically listed foreign shares | 15,907,850.00 | |||
| Guosen Securities (HK) Brokerage Co., Ltd. | 13,909,425.00 | Domestically listed foreign shares | 13,909,425.00 | |||
| Shenwan Hongyuan Securities (Hong Kong) Co., Ltd. | 8,281,156.00 | Domestically listed foreign shares | 8,281,156.00 | |||
| Lhasa Xingqing Network Technology Co., Ltd. | 4,600,255.00 | RMB common shares | 4,600,255.00 | |
| Li Huili | 3,891,124.00 | Domestically listed foreign shares | 3,891,124.00 | |
| Ge Zhiqiong | 3,050,452.00 | Domestically listed foreign shares | 3,050,452.00 | |
| Xu Hongbo | 2,927,319.00 | Domestically listed foreign shares | 2,927,319.00 | |
| China Merchants Securities (HK) Co., Ltd | 2,894,135.00 | Domestically listed foreign shares | 2,894,135.00 | |
| Liu Ligang | 2,813,582.00 | RMB common shares | 2,813,582.00 | |
| Explanation on associated relationship among the aforesaid shareholders | Li Huili, spouse of Ji Hanfei, the actual controller of Shenzhen Guosheng Energy Investment Development Co., Ltd., holding B-share of the Company on behalf of Shenzhen Guosheng Energy Investment Development Co., Ltd., other than that, the Company does not know whether the other outstanding shareholders are related and whether the shareholders belong to persons acting in concert regulated in the Administration of Disclosure of Information on the Change of Shareholders in Listed Companies. | |||
| Explanation on top 10 shareholders involving margin business (if applicable) | N/A | |||
(2) Total shareholders with preferred stock held and shares held by top ten shareholders with preferredstock held
□Applicable ?Not applicable
III. Important matters?Applicable □Not applicable
1. Litigation matters
Early 2023, as the plaintiff, the company and its controlling subsidiary Shenzhen Emmelle Industrial Co., Ltd. (hereinaftercollectively referred to as the Company) filed a lawsuit against Guangshui Jiaxu Energy Technology Co., Ltd respectively for a totalamount of 24.9672 million yuan with the “sales and purchase contract dispute” involved. As of the announcement date, the abovecases have been heard by the court and ruled in favor of the Company, and some of the judgments are already in effect. Pursuit to theassessment of the risk of recoverable for the above account receivable, based on principle of prudence, the Company has accrual 80%credit impairment in previous years. Found more in the Announcement on Lawsuits and Progress of the Lawsuits released on JuchaoWebsite dated 10 Feb. 2023 and 21 Apr.respectively.
IV. Financial Statement
(1) Financial statement
1. Consolidate Balance Sheet
Prepared by Shenzhen China Bicycle Company (Holdings) Limited
2023-03-31
Unit: RMB/CNY
| Item | Ending balance | Opening balance |
| Current assets: | ||
| Monetary fund | 48,038,369.72 | 54,699,491.18 |
| Settlement provisions | ||
| Capital lent | ||
| Trading financial assets | ||
| Derivative financial assets | ||
| Note receivable | 702,000.00 | 1,102,000.00 |
| Account receivable | 138,170,643.10 | 250,069,301.93 |
| Receivable financing | ||
| Accounts paid in advance | 10,813,758.12 | 4,286,935.15 |
| Insurance receivable | ||
| Reinsurance receivables | ||
| Contract reserve of reinsurance receivable | ||
| Other account receivable | 2,364,035.29 | 438,477.82 |
| Receivable financing | ||
| Accounts paid in advance | ||
| Insurance receivable | ||
| Inventory | 158,022,696.51 | 48,206,866.81 |
| Contractual assets | ||
| Assets held for sale | ||
| Non-current asset due within one year | ||
| Other current assets | 34,924,612.56 | 35,453,106.62 |
| Total current assets | 393,036,115.30 | 394,256,179.51 |
| 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 estate | ||
| Fix assets | 2,259,329.90 | 2,304,402.38 |
| Construction in progress | ||
| Productive biological asset | ||
| Oil and gas asset | ||
| Right-of-use assets | 43,484.18 | 173,936.71 |
| Intangible assets | ||
| Expense on Research and Development | ||
| Goodwill | ||
| Long-term expenses to be apportioned | ||
| Deferred income tax asset | 118,969.33 | 118,969.33 |
| Other non-current assets | 400,000.00 | 400,000.00 |
| Total non-current assets | 2,821,783.41 | 2,997,308.42 |
| Total assets | 395,857,898.71 | 397,253,487.93 |
| Current liabilities: | ||
| Short-term loans | ||
| Loan from central bank | ||
| Capital borrowed | ||
| Trading financial liability | ||
| Derivative financial liability | ||
| Note payable | ||
| Account payable | 13,211,053.01 | 2,877,423.23 |
| Accounts received in advance | ||
| Contractual liability | 745,965.38 | 791,762.84 |
| Selling financial asset of repurchase | ||
| Absorbing deposit and interbank deposit | ||
| Security trading of agency | ||
| Security sales of agency | ||
| Wage payable | 879,077.91 | 769,992.42 |
| Taxes payable | 23,360,784.63 | 38,144,508.36 |
| Other account payable | 48,277,642.13 | 48,621,087.98 |
| Including: Interest payable | ||
| Dividend payable | ||
| Commission charge and commission payable | ||
| Reinsurance payable | ||
| Liability held for sale | ||
| Non-current liabilities due within one year | 80,439.85 | 210,892.38 |
| Other current liabilities | 6,944.28 | 102,929.16 |
| Total current liabilities | 86,561,907.19 | 91,518,596.37 |
| Non-current liabilities: | ||
| Insurance contract reserve | ||
| Long-term loans | ||
| Bonds payable | ||
| Including: Preferred stock | ||
| Perpetual bonds | ||
| Lease liability | ||
| Long-term account payable | ||
| Long-term wages payable | ||
| Accrual liability | 887,342.00 | 887,342.00 |
| Deferred income | ||
| Deferred income tax liabilities | ||
| Other non-current liabilities | ||
| Total non-current liabilities | 887,342.00 | 887,342.00 |
| Total liabilities | 87,449,249.19 | 92,405,938.37 |
| Owner’s equity: | ||
| Share capital | 689,184,933.00 | 689,184,933.00 |
| Other equity instrument | ||
| Including: Preferred stock | ||
| Perpetual bonds | ||
| Capital public reserve | 778,824,470.95 | 778,824,470.95 |
| Less: Inventory shares | ||
| Other comprehensive income | ||
| Reasonable reserve | ||
| Surplus public reserve | 32,673,227.01 | 32,673,227.01 |
| Provision of general risk | ||
| Retained profit | -1,207,704,654.73 | -1,210,553,312.45 |
| Total owner’ s equity attributable to parent company | 292,977,976.23 | 290,129,318.51 |
| Minority interests | 15,430,673.29 | 14,718,231.05 |
| Total owner’ s equity | 308,408,649.52 | 304,847,549.56 |
| Total liabilities and owner’ s equity | 395,857,898.71 | 397,253,487.93 |
Legal Representative: Wang Shenghong Person in charge of Accounting Works: Sun Longlong Person in charge ofAccounting Institution: She Hanxing
2. Consolidated Profit Statement
Unit: RMB/CNY
| Item | Current period incurred | Prior period incurred |
| I. Total operation revenue | 151,527,917.92 | 50,246,951.40 |
| Including: Operation revenue | 151,527,917.92 | 50,246,951.40 |
| Interest income | ||
| Insurance gained | ||
| Commission charge and commission income | ||
| II. Total operation cost | 147,176,272.40 | 51,348,242.22 |
| Including: Operation cost | 143,175,923.57 | 47,249,406.26 |
| 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 surcharge | 106,685.88 | 35,537.87 |
| Sales expenses | 1,013,451.89 | 1,251,815.38 |
| Administrative expenses | 2,378,689.86 | 1,603,942.40 |
| R&D expenses | 529,106.67 | 1,215,439.84 |
| Financial expenses | -27,585.47 | -7,899.53 |
| Including: Interest expenses | ||
| Interest income | 34,411.47 | 20,245.44 |
| Add: Other income | 2,092.35 | 103,369.17 |
| 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 | ||
| 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 “-”) | 331,910.63 | 60,000.00 |
| Impairment loss on assets(Loss is listed with “-”) | ||
| Income from assets disposal (Loss is listed with “-”) | ||
| III. Operation profit (Loss is listed with “-”) | 4,685,648.50 | -937,921.65 |
| Add: Non-operating income | 560,000.01 | 221,131.50 |
| Less: Non-operating expense | 850,000.00 | |
| IV. Total profit (Loss is listed with “-”) | 4,395,648.51 | -716,790.15 |
| Less: Income tax expense | 834,548.55 | 8,270.01 |
| V. Net profit (Net loss is listed with “-”) | 3,561,099.96 | -725,060.16 |
| (i) Classify by business continuity | ||
| 1.Continuous operating net profit (net loss listed with ‘-”) | 3,561,099.96 | -725,060.16 |
| 2.Termination of net profit (net loss listed with ‘-”) | ||
| (ii) Classify by ownership | ||
| 1.Net profit attributable to shareholders of parent company | 2,848,657.72 | -903,991.16 |
| 2.Minority shareholders’ gains and losses | 712,442.24 | 178,931.00 |
| VI. Net other comprehensive income after taxation | ||
| Net other comprehensive income attributable to owners of parent company after taxation | ||
| (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 | ||
| 6.Translation differences arising on translation of foreign currency financial statements | ||
| 7.Other | ||
| Net other comprehensive income attributable to minority shareholders after taxation | ||
| VII. Total comprehensive income | 3,561,099.96 | -725,060.16 |
| Total comprehensive income attributable to owners of parent Company | 2,848,657.72 | -903,991.16 |
| Total comprehensive income attributable to minority shareholders | 712,442.24 | 178,931.00 |
| VIII. Earnings per share: | ||
| (i)Basic EPS | 0.0041 | -0.0016 |
| (ii)Diluted EPS | 0.0041 | -0.0016 |
As for the enterprise combined under the same control, net profit of 0 Yuan achieved by the merged party before combinationwhile 0 Yuan achieved last period.
Legal Representative: Wang Shenghong Person in charge of Accounting Works: Sun Longlong Person in charge ofAccounting Institution: She Hanxing
3. Consolidated Cash Flow Statement
Unit: RMB/CNY
| Item | Current period incurred | Prior period incurred |
| I. Cash flows arising from operating activities: | ||
| Cash received from selling commodities and providing labor services | 282,900,383.10 | 55,844,910.44 |
| 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 capital from repurchase business | ||
| Net cash received by agents in sale and purchase of securities | ||
| Write-back of tax received | 2,217.90 | 3,529.86 |
| Other cash received concerning operating activities | 8,871,526.59 | 7,532,827.46 |
| Subtotal of cash in-flow arising from operation activity | 291,774,127.59 | 63,381,267.76 |
| Cash paid for purchasing commodities and receiving labor service | 293,494,756.99 | 60,349,320.00 |
| 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, handling charge and commission | ||
| Cash paid for bonus of guarantee slip | ||
| Cash paid to/for staff | 960,468.61 | 2,086,036.96 |
| Taxes paid | 1,600,617.38 | 431,259.14 |
| Other cash paid concerning operating activities | 3,264,163.25 | 9,444,978.17 |
| Subtotal of cash out-flow arising from operation activity | 299,320,006.23 | 72,311,594.27 |
| Net cash flow arising from operating activities | -7,545,878.64 | -8,930,326.51 |
| 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 in-flow arising from investment activity | ||
| Cash paid for purchasing fixed, intangible and other long-term assets | ||
| Cash paid for investment | ||
| Net increase of mortgaged loans | ||
| Net cash received from subsidiaries |
| and other units obtained | ||
| Other cash paid concerning investing activities | ||
| Subtotal of cash out-flow arising from investment activity | ||
| Net cash flow arising from investment activities | ||
| III. Cash flows arising from financing activities: | ||
| Cash received from absorbing investment | ||
| Including: Cash received from absorbing minority shareholders’ investment by subsidiaries | ||
| Cash received from loans | ||
| Other cash received concerning financing activities | ||
| Subtotal of cash in-flow arising from financing activity | ||
| Cash paid for settling debts | ||
| Cash paid for dividend and profit distributing or interest paying | ||
| Including: Dividend and profit of minority shareholder paid by subsidiaries | ||
| Other cash paid concerning financing activities | 142,878.90 | |
| Subtotal of cash out-flow arising from financing activity | 142,878.90 | |
| Net cash flow arising from financing activities | -142,878.90 | |
| IV. Influence on cash and cash equivalents due to fluctuation in exchange rate | ||
| V. Net increased amount of cash and cash equivalent | -7,545,878.64 | -9,073,205.41 |
| Add: Balance of cash and cash equivalents at the period -begin | 50,922,869.35 | 33,246,957.92 |
| VI. Balance of cash and cash equivalents at the period -end | 43,376,990.71 | 24,173,752.51 |
(2) Audit report
Whether the 1
stquarterly report has been audited or not
□Yes ?No
The 1
stquarterly report of the Company has not been audited.
Board of Directors of
Shenzhen China Bicycle Company (Holdings) Limited
April 27, 2023