Report for the First Quarter of 2016 of Lu Thai Textile Co., Ltd.
Lu Thai Textile Co., Ltd.
Report for the First Quarter of 2016
April 2016
Report for the First Quarter of 2016 of Lu Thai Textile Co., Ltd.
Section I Important Statements
The Board of Directors, the Supervisory Committee, directors, supervisors and
senior management staff of Lu Thai Textile Co., Ltd. (hereinafter referred to as
“the Company”) warrant that the information carried in this report is factual,
accurate and complete, without any false record, misleading statement or
material omission. And they shall be jointly and severally liable for that.
All directors have attended the board session for reviewing this report.
Liu Zibin, company principal, Zhang Hongmei, chief of the accounting work,
and Zhang Keming, chief of the accounting organ (chief of accounting), hereby
confirm that the financial statements enclosed in this report are factual, accurate
and complete.
This Report is prepared in both Chinese and English. Should there be any
discrepancy between the two versions, the Chinese version shall prevail.
Report for the First Quarter of 2016 of Lu Thai Textile Co., Ltd.
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) 1,282,806,624.05 1,428,557,406.74 -10.20%
Net profit attributable to shareholders of the Company (RMB) 150,268,522.21 152,714,080.35 -1.60%
Net profit attributable to shareholders of the Company after
137,542,633.98 131,929,166.88 4.25%
deducting exceptional profit and loss (RMB)
Net operating cash flow (RMB) 183,258,282.60 -97,329,127.52 -288.29%
Basic earnings per share (RMB/share) 0.16 0.16 0.00%
Diluted earnings per share (RMB/share) 0.16 0.16 0.00%
Weighted average return on equity 2.15% 2.29% -0.14%
31 March 2016 31 December 2015 +/-%
Total assets (RMB) 9,059,317,160.04 9,091,170,499.22 -0.35%
Net assets attributable to shareholders of the Company (RMB) 6,865,658,300.17 6,837,113,075.58 0.42%
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 asset impairment
-119,596.26
provisions)
Government grants charged to the profit/loss for the Reporting Period (except for the
government grants closely related to the business of the Company and given at a fixed quota or 4,596,057.87
amount in accordance with the State’s uniform standards)
Gains and losses on change in fair value from tradable financial assets and tradable financial
liabilities, as well as investment income from disposal of tradable financial assets and tradable
4,700,743.33
financial liabilities and financial assets available for sales, except for effective hedging related
with normal businesses of the Company
Non-operating incomes and expenses other than the above 2,954,115.86
Less: Income tax effects -1,211,324.23
Minority interests effects (after tax) 616,756.80
Total 12,725,888.23 --
Report for the First Quarter of 2016 of Lu Thai Textile Co., Ltd.
Explanation of why the Company classified 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 reclassified any exceptional profit/loss item given as an example in the said explanatory announcement to 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
69,043
shareholders at the period-end resumed voting rights at the period-end (if any)
Shareholdings of top ten shareholders
Pledged or frozen
Shareholding Number of shares
Nature of Number of
Name of shareholder percentage restricted Numbe
shareholder shares held Status of
(%) shares held r of
shares
shares
Domestic
Zibo Lucheng Textile Investment Co., Ltd. non-state-owned 14.69% 140,353,583
corporation
Foreign
Tailun Textile Co., Ltd. 12.37% 118,232,400 118,232,400
corporation
State-owned
Central Huijin Investment Co., Ltd. 2.13% 20,315,300
corporation
Foreign
T.ROWE PRICE INTL DISCOVERY FUND 2.09% 19,948,219
corporation
CHINA SECURITIES FINANCE State-owned
1.64% 15,679,091
CORPORATION LIMITED corporation
Foreign
LYNAS ASIA FUND 1.51% 14,413,375
corporation
FIRST STATE INVESTMENTS
Foreign
ICVC-FIRST STATE GREATER CHINA 1.12% 10,714,368
corporation
GROWTH FUND
HUA AN NEW SILK ROAD THEME Domestic
EQUITY SECURITIES INVESTMENT non-state-owned 1.06% 10,110,000
FUND corporation
VALUE PARTNERS CLASSIC FUND Foreign 0.85% 8,156,383
Report for the First Quarter of 2016 of Lu Thai Textile Co., Ltd.
corporation
Foreign
First State China A Share Fund 0.82% 7,881,381
corporation
Shareholdings of top ten non-restricted shareholders
Number of Variety of shares
Name of shareholder non-restricted shares
Variety Number
held
Zibo Lucheng Textile Investment Co., Ltd. 140,353,583 RMB common shares 140,353,583
Central Huijin Investment Co., Ltd. 20,315,300 RMB common shares 20,315,300
Domestically listed
T.ROWE PRICE INTL DISCOVERY FUND 19,948,219 19,948,219
foreign shares
CHINA SECURITIES FINANCE CORPORATION LIMITED 15,679,091 RMB common shares 15,679,091
Domestically listed
LYNAS ASIA FUND 14,413,375 14,413,375
foreign shares
FIRST STATE INVESTMENTS ICVC-FIRST STATE Domestically listed
10,714,368 10,714,368
GREATER CHINA GROWTH FUND foreign shares
HUA AN NEW SILK ROAD THEME EQUITY SECURITIES
10,110,000 RMB common shares 10,110,000
INVESTMENT FUND
Domestically listed
VALUE PARTNERS CLASSIC FUND 8,156,383 8,156,383
foreign shares
First State China A Share Fund 7,881,381 RMB common shares 7,881,381
Domestically listed
HTHK-MANULIFE CHINA VALUE FUND 6,858,138 6,858,138
foreign shares
Zibo Lucheng Textile Investment Co., Ltd. is the largest
shareholder of the Company and the actual controller. Tailun
(Thailand) Textile Co., Ltd. is the second largest shareholder as
Related or acting-in-concert parties among the above well as sponsor of foreign capital of the Company. All of other
shareholders shareholders are people holding circulating A share or circulating
B share and the Company is not able to confirm whether there is
associated relationship or concerted action among other
shareholders.
Top ten common shareholders conducting securities margin
N/A
trading (if any)
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.
Report for the First Quarter of 2016 of Lu Thai Textile Co., Ltd.
2. Total number of preference shareholders and shareholdings of the top ten of them
□ Applicable √ Not applicable
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
√ Applicable □ Not applicable
(1) Notes receivable stood at RMB87,564,218.01 on 31 March 2016, down 34.23% from the
opening amount, mainly because letters of credit became due.
(2) Interest receivable stood at RMB0.00 on 31 March 2016, down 100.00% from the opening
amount, mainly because savings became due and interest was collected.
(3) Other accounts receivable stood at RMB44,055,162.39 on 31 March 2016, down 37.79% from
the opening amount, mainly because export rebates were received.
(4) Engineering materials stood at RMB19,909,444.99 on 31 March 2016, up 215.03% from the
opening amount, mainly because equipment to be installed increased.
(5) Other non-current assets stood at RMB47,372,488.77 on 31 March 2016, up 37.30% from the
opening amount, mainly because prepayments for equipment increased.
(6) Financial liabilities measured at fair value with fair value changes charged to the current profit
and loss stood at RMB19,928,030.00 on 31 March 2016, down 57.32% from the opening amount,
mainly because financial liabilities became due and loss on the fair value changes decreased.
(7) Payroll payable stood at RMB181,404,630.78 on 31 March 2016, down 37.72% from the
opening amount, mainly because the year-end bonuses for employees for 2015 were paid in the
current period.
(8) Interest payable stood at RMB988,920.36 on 31 March 2016, down 46.60% from the opening
amount, mainly because interest payable decreased.
(9) Treasury shares stood at RMB131,096,061.14 on 31 March 2016, up 1029.09% from the
opening amount, mainly because repurchased shares increased.
(10) Asset impairment loss stood at RMB-870,101.65 for January-March 2016, down 175.08%
from the same period of last year, mainly because accounts receivable decreased.
(11) Profit on fair value changes stood at RMB21,750,839.63 for January-March 2016, up 281.23%
from the same period of last year, mainly because of the profit on fair value changes in due
financial liabilities and the fair value changes in the current period.
(12) Investment profit stood at RMB-17,050,096.30 for January-March 2016, down 225.14% from
the same period of last year, mainly because loss on investment in financial derivative instruments
increased.
(13) Non-operating income stood at RMB8,337,965.06 for January-March 2016, up 73.10% from
the same period of last year, mainly because governmental subsidies increased.
Report for the First Quarter of 2016 of Lu Thai Textile Co., Ltd.
II Progress of significant events and analysis & explanations on their influence and solutions
√ Applicable □ Not applicable
On 5 August 2015, the Company held the 2015 1st Extraordinary General Meeting, which reviewed and approved the Proposal on
Repurchasing Part of the Share A and Share B of the Company, and had published the Report about Repurchasing Part of the Share A
and Share B of the Company on 10 October 2015 and as for the details of the above, please refer to the announcement of the
Company (No.: 2015-029) and the report about repurchasing the shares that respectively diclosed on www.cninfo.com.cn on 6
August 2015 and 10 October 2015. The Company began to execute the repurchase proposal since 10 November 2015 and up to 31
March 2016, the Company had accumulatively repurchased the Share B of 15,318,707 shares and as for the detailed situation, please
refer to the announcement of the Company (No.: 2016-016) that disclosed on www.cninfo.com.cn on 6 April 2016.
Index to the relevant announcement disclosed on
Overview of the significant event Date of disclosure
the website
On 5 August 2015, the Company held the 2015 1st Announcement on the Resolution of the 2015 1st
Extraordinary General Meeting, which reviewed and 6 Aug. 2015 Extraordinary General Meeting (No.: 2015-029),
approved the Proposal on Repurchasing Part of the Share A which disclosed on http://www.cninfo.com.cn
and Share B of the Company, and had published the Report Report about Repurchasing Part of the Share A
about Repurchasing Part of the Share A and Share B of the 10 Oct. 2015 and Share B of the Company, which disclosed on
Company on 10 October 2015 and as for the details of the http://www.cninfo.com.cn
above, please refer to the announcement of the Company
Announcement on the Execution of
(No.: 2015-029) and the report about repurchasing the
11 Nov. 2015 Repurchasing the Shares (No.: 2015-047), which
shares that respectively diclosed on www.cninfo.com.cn on
disclosed on http://www.cninfo.com.cn
6 August 2015 and 10 October 2015. The Compa
