Tunghsu Optoelectronic Technology Co., Ltd.
The First Quarterly Report 2019
April 2019
I. Important Notice
The Board of Directors ,Supervisory Committee, all directors, supervisors and senior executives of the Companyhereby guarantees that there are no misstatement, misleading representation or important omissions in this reportand shall assume joint and several liability for the authenticity, accuracy and completeness of the contents hereof.All of the directors presented the board meeting at which this Quarterly Report was examined.Mr.Wang Lipeng, The Company leader, Ms.Feng Qiuju Chief financial officer and the Mr.Wang Cang, the personin charge of the accounting department (the person in charge of the accounting )declare: the financial reportcarried in this report is authentic and completed
II. Basic information about the company
I.Main financial data and financial indexIndicate by tick mark whether the Company needs to retroactively restate any of its accounting data.
√Yes □No
Reasons for retrospective restatements:
Business merger under the same control.
| This period | Same period of last year | Changes of this period over same period of last year（％） | ||
| Before adjustment | After adjustment | After adjustment | ||
| Operating income（RMB） | 3,816,412,812.51 | 4,665,751,599.66 | 4,665,570,392.15 | -18.20% |
| Net profit attributable to the shareholders of the listed company（RMB） | 431,060,886.41 | 424,438,428.17 | 425,984,601.17 | 1.19% |
| Net profit after deducting of non-recurring gain/loss attributable to the shareholders of listed company（RMB） | 396,063,134.95 | 391,162,587.16 | 395,736,897.36 | 0.08% |
| Cash flow generated by business operation, net（RMB） | 638,683,628.95 | -1,127,140,487.84 | -1,057,540,776.02 | 160.39% |
| Basic earning per share(RMB/Share) | 0.08 | 0.07 | 0.07 | 14.29% |
| Diluted gains per share(RMB/Share) | 0.08 | 0.07 | 0.07 | 14.29% |
| Weighted average return on equity（%） | 1.32% | 1.36% | 1.37% | -0.05% |
| End of this period | End of last period | Changes of this period-end over same period-end of last year(%) | ||
| Before adjustment | After adjustment | After adjustment | ||
| Gross assets（RMB） | 72,232,411,541.83 | 72,576,122,859.60 | 72,576,122,859.60 | -0.47% |
| Net assets attributable to the shareholders of the listed company（RMB） | 32,952,747,344.61 | 32,521,130,925.14 | 32,521,130,925.14 | 1.33% |
Items and amount of non-current gains and losses√ Applicable □ Not applicable
In RMB
| Items | Amount (Year-beginning to the end of the report period.) | Notes |
| Non-current asset disposal gain/loss(including the write-off part for which assets impairment provision is made) | 11,045,143.65 | |
| Govemment subsidy recognized in current gain and loss(excluding those closely related to the Company’s business and granted under the state’s policies) | 25,906,295.87 | |
| Gain/loss on loans obtained by entrusting others | 246,200.42 | |
| Other non-operating income and expenditure beside for the above items | 2,740,855.07 | |
| Less: Influenced amount of income tax | 3,018,604.72 | |
| Amount of influence of minority interests（After tax） | 1,922,138.83 | |
| Total | 34,997,751.46 | -- |
For the Company’s non-recurring gain/loss items as defined in the Explanatory Announcement No.1 oninformation disclosure for Companies Offering their Securities to the Public-Non-recurring Gains and Losses andits non-recurring gain/loss items as illustrated in the Explanatory Announcement No.1 on information Disclosurefor Companies offering their securities to the public-non-recurring Gains and losses which have been defined asrecurring gains and losses, it is necessary to explain the reason.□ Applicable√ Not applicableNone of Non-recurring gain /loss items recognized as recurring gain /loss/items as defined by the informationdisclosure explanatory Announcement No.1- Non –recurring gain/loss in the report period.
II.Total Shareholders and Shares Held by Top Ten Shareholders at the End of the Reporting Period1. About Total Common Shareholders, Total Preference Shareholders with the Voting Power Recoveredand the Shares Held by Top Ten Common Shareholders
In shares
| Total number of common shareholders at the period-end | 357,654(includ ing 340,582 shareholders holding A shares and 17,072 shareholders holding B shares) | Total preference shareholders with the voting power recovered at the end of the reporting period(if any) | 0 | |||
| Shares held by the top 10 shareholders | ||||||
| Shareholder name | Properties of shareholder | Share proportion % | Quantity | Amount of tradable shares with Conditional held | Pledging or freezing | |
| Status of the shares | Quantity | |||||
| Tunghsu Group Co., Ltd. | Domestic Non -State-owned legal person | 15.97% | 915,064,091 | 352,006,791 | Pledge | 799,643,042 |
| Shijiazhuang Baoshi Electronic Group Co., Ltd. | Domestic Non -State-owned legal person | 5.80% | 332,382,171 | Pledge | 153,520,000 | |
| Shanghai Huimao Enterprise Management Co., Ltd. | Domestic Non -State-owned legal person | 4.58% | 262,626,262 | 262,626,262 | Pledge | 80,240,722 |
| Minsheng Royal Fund Management Co., Ltd－-Ping An Bank-Daye Trust·Zengli 2 single Fund Trust | Other | 1.63% | 93,363,625 | |||
| Tunghsu Optoelectronic Technology Co., Ltd.－The first ESOP | Other | 1.27% | 72,639,296 | |||
| Beixin Ruifeng Fund－China Merchants Bank－Daye Trust－Daye Trust·Profit increase 3 single fund plan | Other | 1.08% | 62,095,032 | |||
| Shenzhen Taianer Information Technology Co., Ltd. | Domestic Non -State-owned legal person | 1.07% | 61,165,682 | Pledge | 55,265,682 | |
| Zhonghai Trust Co., Ltd.－ Zhonghai Trust－Tunghsu Optoelectronic ESOP pooled Fund trust | Other | 0.92% | 52,555,280 | |||
| Kunshan Development Zone State-Owned Investment Holding Co., Ltd. | State-owned legal person | 0.77% | 43,988,269 | |||
| Yang Haihui | Domestic Natural person | 0.55% | 31,767,200 | |||
| Shares held by the Top 10 Shareholders of Non-restricted shares | ||||||
| Shareholders’ Names | Number of the non-restricted shares held | Share type | ||||
| Share type | Quantity | |||||
| Tunghsu Group Co., Ltd. | 563,057,300 | RMB Common shares | 563,057,300 | |||
| Shijiazhuang Baoshi Electronic Group Co., Ltd. | 332,382,171 | RMB Common shares | 332,382,171 | |||
| Minsheng Royal Fund Management Co., Ltd－-Ping An Bank-Daye Trust·Zengli 2 single Fund Trust | 93,363,625 | RMB Common shares | 93,363,625 | |||
| Tunghsu Optoelectronic Technology Co., Ltd.－The first ESOP | 72,639,296 | RMB Common shares | 72,639,296 | |||
| Beixin Ruifeng Fund－China Merchants Bank－Daye Trust－Daye | 62,095,032 | RMB Common | 62,095,032 | |||
| Trust·Profit increase 3 single fund plan | shares | ||
| Shenzhen Taianer Information Technology Co., Ltd. | 61,165,682 | RMB Common shares | 61,165,682 |
| Zhonghai Trust Co., Ltd.－ Zhonghai Trust－Tunghsu Optoelectronic ESOP pooled Fund trust | 52,555,280 | RMB Common shares | 52,555,280 |
| Kunshan Development Zone State-Owned Investment Holding Co., Ltd. | 43,988,269 | RMB Common shares | 43,988,269 |
| Yang Haihui | 31,767,200 | RMB Common shares | 31,767,200 |
| Hong Kong Securities Clearing Co., Ltd. | 31,386,235 | RMB Common shares | 31,386,235 |
| Explanation on shareholders participating in the margin trading business | Among the top 10 unrestricted tradable shareholders, Shijiazhuang Baoshi Electronics Group Co., Ltd. and Yang Haihui and Dongxu Group Co., Ltd. among the top 10 shareholders constitute a concerted relationship. | ||
| Participation of top 10 unconditional common share shareholders in securities margin trading (if any) | Not applicable | ||
Whether top ten common shareholders or top ten common shareholders with un-restrict shares held have abuy-back agreement dealing in reporting period.□ Yes √ NoThe top ten common shareholders or top ten common shareholders with un-restrict shares held of the Companyhave no buy –back agreement dealing in reporting period.2.Total number of preferred shareholders and shareholding of top 10 preferred shareholders by the end ofthe report period
□ Applicable √Not applicable
III Significant EventsI. Major changes of main accounting statement items and financial indicators in the reporting period, aswell as reasons for the changes
√ Applicable □ Not applicable
| Financial index | This period（RMB） | Same period of last year（RMB） | Increase/decrease（%） | Main reason for change |
| Prepayments | 3,931,402,375.92 | 5,215,414,219.51 | -24.62% | The decrease in the current period was mainly due to the settlement of prepaid materials and construction funds. |
| Inventories | 4,504,747,450.05 | 3,510,786,666.85 | 28.31% | The increase in inventory is the concentration of suppliers in the current period, and the company has increased inventory in the second quarter. |
| Other account payable | 2,881,335,938.76 | 2,089,603,676.60 | 37.89% | The increase in the current period was mainly due to the increase in related party funds and interest payable. |
| Financial index | This period（RMB） | Same period of last year（RMB） | Increase/decrease（%） | Main reason for change |
| Administrative expense | 141,671,065.56 | 108,880,249.34 | 30.12% | Management salary increases, new intangible assets lead to amortization increase in the current period. |
| Other gains | 105,585,373.30 | 22,072,399.68 | 378.36% | The substantial increase in this period was mainly due to the receipt of tax returns from the company during the period. |
| Net cash flow arising from operating activities | 638,683,628.95 | -1,057,540,776.02 | 160.39% | The increase in net traffic of operating activities was mainly due to the strengthening of management and control of remittances in the current period |
II. The progress of significant events and influence, as well as the analysis and explanation on resolvingproposal.
□ Applicable √Not applicable
Progress in the implementation of share repurchase□ Applicable √ Not applicableProgress in the implementation of the reduction of the repurchased shares by means of centralized bidding□ Applicable √ Not applicableIII. Commitments finished in implementation by the Company, shareholders, actual controller, acquirer,directors, supervisors, senior executives or other related parties in the reporting period and commitmentsunfinished in implementation at the end of the reporting period□ Applicable √Not applicable
The company has no commitments completed in period and those without completed till lend of the period fromactual controller, shareholders, related parties, purchaser and companies.IV．Prediction of Business performance for January- June 2019Estimation of accumulative net profit from the beginning of the year to the end of next report period to be loss
probably or the warning of its material change compared with the corresponding period of the last year andexplanation of reason.□ Applicable √ Not applicableV. Investment in securities□ Applicable √ Not applicableNo securities investment in period.VI. Investments in derivatives□ Applicable √ Not applicableThere is no derivative investment during the report period.VII. The registration form of acceptance of investigation, communication and interview in the reportperiod for future reference□ Applicable √ Not applicableThe Period has no research, communication and written inquiry from the investors in the report period.VIII. External guarantee get out of line□ Applicable √Not applicableThe Company has no external guarantee get out of the line in the PeriodIX. Controlling shareholder and its related parties occupying non-business capital of the listed company□ Applicable √Not applicableThere are no controlling shareholder and its related parties occupying non-business capital of the listed companyin Period
IV. Financial StatementI. Financial statement1. Consolidated balance sheetPrepared by：Tunghsu Optoelectronic Technology Co., Ltd.
March 31,2019
In RMB
| Items | March 31,2019 | December 31,2018 |
| Current asset： | ||
| Cash and bank balances | 21,868,775,404.92 | 19,807,094,397.16 |
| Settlement provision | ||
| Outgoing call loan | ||
| Transactional financial assets | ||
| Financial assets measured at fair value with variations accounted into current income account | ||
| Derivative financial assets | ||
| Notes receivable & account receivable | 12,875,768,132.42 | 14,852,563,398.56 |
| Including： Notes receivable | 133,966,295.17 | 499,781,503.17 |
| Account receivable | 11,759,507,555.40 | 14,352,781,895.39 |
| Prepayments | 3,931,402,375.92 | 5,215,414,219.51 |
| Insurance receivable | ||
| Reinsurance receivable | ||
| Provisions of Reinsurance contracts receivable | ||
| Other account receivable | 1,365,242,855.34 | 1,125,991,020.55 |
| Including：Interest receivable | 69,727,317.64 | 56,811,961.67 |
| Dividend receivable | ||
| Repurchasing of financial assets | ||
| Inventories | 4,504,747,450.05 | 3,510,786,666.85 |
| Contract assets | ||
| Assets held for sales | 119,355,435.58 | 119,355,435.58 |
| Non-current asset due within 1 year |
| Other current asset | 734,372,232.99 | 809,360,778.49 |
| Total of current assets | 45,399,663,887.22 | 45,440,565,916.70 |
| Non-current assets： | ||
| Loans and payment on other’s behalf disbursed | 0.00 | 0.00 |
| Debt investment | ||
| Available for sale of financial assets | 243,158,605.30 | |
| Other investment on bonds | ||
| Expired investment in possess | ||
| Long-term receivable | 332,695,486.12 | 344,430,815.68 |
| Long term share equity investment | 2,181,567,415.64 | 2,174,347,969.22 |
| Other equity instruments investment | 243,158,605.30 | |
| Other non-current financial assets | ||
| Property investment | 679,225,968.15 | 686,993,881.02 |
| Fixed assets | 10,431,077,361.39 | 9,634,463,323.77 |
| Construction in progress | 4,300,612,597.38 | 5,013,941,980.61 |
| Production physical assets | ||
| Oil & gas assets | ||
| Use right assets | ||
| Intangible assets | 1,127,906,489.92 | 1,146,949,745.14 |
| Development expenses | 44,059,846.91 | 37,122,235.94 |
| Goodwill | 2,835,672,586.90 | 2,835,672,586.90 |
| Long-germ expenses to be amortized | 23,820,063.21 | 21,884,204.82 |
| Deferred income tax asset | 525,019,873.64 | 533,094,627.68 |
| Other non-current asset | 4,107,931,360.05 | 4,463,496,966.82 |
| Total of non-current assets | 26,832,747,654.61 | 27,135,556,942.90 |
| Total of assets | 72,232,411,541.83 | 72,576,122,859.60 |
| Current liabilities | ||
| Short-term loans | 9,696,203,233.99 | 8,361,106,651.33 |
| Loan from Central Bank | ||
| Borrowing funds | ||
| Transactional financial liabilities | ||
| Financial liabilities measured at fair value with variations accounted into current income account |
| Derivative financial liabilities | ||
| Notes payable & account payable | 8,250,370,349.89 | 10,276,094,132.88 |
| Advance receipts | 1,386,317,184.61 | 1,402,283,662.37 |
| Selling of repurchased financial assets | ||
| Deposit taking and interbank deposit | ||
| Entrusted trading of securities | ||
| Entrusted selling of securities | ||
| Employees’ wage payable | 171,810,742.84 | 238,146,977.17 |
| Tax payable | 435,516,934.45 | 817,173,127.12 |
| Other account payable | 2,881,335,938.76 | 2,089,603,676.60 |
| Including：Interest payable | 193,564,089.90 | 117,554,951.58 |
| Dividend payable | ||
| Fees and commissions payable | ||
| Reinsurance fee payable | ||
| Contract Liabilities | ||
| Liabilities held for sales | ||
| Non-current liability due within 1 year | 3,513,975,684.59 | 3,697,392,864.91 |
| Other current liability | 423,576,078.84 | 315,193,128.73 |
| Total of current liability | 26,759,106,147.97 | 27,196,994,221.11 |
| Non-current liabilities： | ||
| Reserve fund for insurance contracts | ||
| Long-term loan | 2,646,367,000.00 | 2,741,589,600.00 |
| Bond payable | 5,633,222,143.65 | 5,630,818,825.32 |
| Including：preferred stock | ||
| Sustainable debt | ||
| Lease liability | ||
| Long-term payable | 2,438,463,569.95 | 2,644,309,592.95 |
| Long-term remuneration payable to staff | ||
| Expected liabilities | 99,517,466.33 | 99,765,750.04 |
| Deferred income | 652,279,998.28 | 676,146,399.31 |
| Deferred income tax liability | 52,628,771.09 | 55,192,983.97 |
| Other non-current liabilities | 108,000,000.00 | 108,000,000.00 |
| Total non-current liabilities | 11,630,478,949.30 | 11,955,823,151.59 |
| Total of liability | 38,389,585,097.27 | 39,152,817,372.70 |
| Owners’ equity | ||
| Share capital | 5,730,250,118.00 | 5,730,250,118.00 |
| Other equity instruments | ||
| Including：preferred stock | ||
| Sustainable debt | ||
| Capital reserves | 21,786,851,245.71 | 21,786,233,393.78 |
| Less：Shares in stock | 4,422,320.00 | 4,422,320.00 |
| Other comprehensive income | -29,175.80 | -29,175.80 |
| Special reserve | 12,552,012.48 | 12,614,331.35 |
| Surplus reserves | 245,507,019.95 | 245,507,019.95 |
| Common risk provision | ||
| Retained profit | 5,182,038,444.27 | 4,750,977,557.86 |
| Total of owner’s equity belong to the parent company | 32,952,747,344.61 | 32,521,130,925.14 |
| Minority shareholders’ equity | 890,079,099.95 | 902,174,561.76 |
| Total of owners’ equity | 33,842,826,444.56 | 33,423,305,486.90 |
| Total of liabilities and owners’ equity | 72,232,411,541.83 | 72,576,122,859.60 |
Legal Representative: Wang Lipeng Person in charge of accounting：Feng Qiuju Accounting Dept Leader: Wang Cang
2.Parent Company Balance Sheet
In RMB
| Items | March 31, 2019 | December 31, 2018 |
| Current asset： | ||
| Cash and bank balances | 10,173,820,834.85 | 9,732,302,654.23 |
| Transactional financial assets | ||
| Financial assets measured at fair value with variations accounted into current income account | ||
| Derivative financial assets | ||
| Notes receivable & account receivable | 92,092,626.78 | 176,613,926.23 |
| Including：Notes receivable | 50,000.00 | |
| Account receivable | 92,092,626.78 | 176,563,926.23 |
| Prepayments | 2,008,459.20 | 2,008,364.11 |
| Other account receivable | 7,074,837,367.78 | 6,281,675,319.27 |
| Including：Interest receivable | 20,906,186.10 | 7,521,489.86 |
| Dividend receivable | 500,000,000.00 | 500,000,000.00 |
| Inventories | 227,280,898.35 | 269,759,580.95 |
| Contract assets | ||
| Assets held for sales | ||
| Non-current asset due within 1 year | ||
| Other current asset | 148,973.38 | 148,973.38 |
| Total of current assets | 17,570,189,160.34 | 16,462,508,818.17 |
| Non-current assets： | ||
| Debt investment | ||
| Available for sale of financial assets | 129,500,056.00 | |
| Other investment on bonds | ||
| Expired investment in possess | ||
| Long-term receivable | ||
| Long term share equity investment | 26,737,254,647.31 | 26,504,735,200.89 |
| Other equity instruments investment | 129,500,056.00 | |
| Other non-current financial assets | ||
| Property investment | ||
| Fixed assets | 156,864,236.65 | 160,867,244.63 |
| Construction in progress | ||
| Production physical assets | ||
| Oil & gas assets | ||
| Use right assets | ||
| Intangible assets | 9,252,460.43 | 9,339,387.26 |
| Development expenses | ||
| Goodwill | ||
| Long-germ expenses to be amortized | ||
| Deferred income tax asset | 119,964,967.85 | 119,964,967.85 |
| Other non-current asset | ||
| Total of non-current assets | 27,152,836,368.24 | 26,924,406,856.63 |
| Total of assets | 44,723,025,528.58 | 43,386,915,674.80 |
| Current liabilities | ||
| Short-term loans | 5,208,000,000.00 | 4,278,000,000.00 |
| Transactional financial liabilities |
| Financial liabilities measured at fair value with variations accounted into current income account | ||
| Derivative financial liabilities | ||
| Notes payable & account payable | 7,630,771.12 | 11,500,796.58 |
| Advance receipts | 1,580,498.78 | 1,991,498.78 |
| Contract Liabilities | ||
| Employees’ wage payable | 4,482,571.86 | 4,484,401.86 |
| Tax payable | 16,187,914.80 | 17,959,833.09 |
| Other account payable | 4,239,098,935.56 | 3,656,725,253.66 |
| Including：Interest payable | 166,840,023.32 | 97,197,464.99 |
| Dividend payable | ||
| Liabilities held for sales | ||
| Non-current liability due within 1 year | 1,410,500,000.00 | 1,533,383,333.28 |
| Other current liability | ||
| Total of current liability | 10,887,480,692.12 | 9,504,045,117.25 |
| Non-current liabilities： | ||
| Long-term loan | ||
| Bond payable | 5,633,222,143.65 | 5,630,818,825.32 |
| Including：preferred stock | ||
| Sustainable debt | ||
| Lease liability | ||
| Long-term payable | ||
| Long-term remuneration payable to staff | ||
| Expected liabilities | ||
| Deferred income | ||
| Deferred income tax liability | ||
| Other non-current liabilities | ||
| Total non-current liabilities | 5,633,222,143.65 | 5,630,818,825.32 |
| Total of liability | 16,520,702,835.77 | 15,134,863,942.57 |
| Owners’ equity | ||
| Share capital | 5,730,250,118.00 | 5,730,250,118.00 |
| Other equity instruments | ||
| Including：preferred stock | ||
| Sustainable debt |
| Capital reserves | 21,832,453,907.50 | 21,832,453,907.50 |
| Less：Shares in stock | 4,422,320.00 | 4,422,320.00 |
| Other comprehensive income | ||
| Special reserve | ||
| Surplus reserves | 226,517,795.62 | 226,517,795.62 |
| Retained profit | 417,523,191.69 | 467,252,231.11 |
| Total of owners’ equity | 28,202,322,692.81 | 28,252,051,732.23 |
| Total of liabilities and owners’ equity | 44,723,025,528.58 | 43,386,915,674.80 |
3.Consolidated Income statement
In RMB
| Items | Report period | Same period of the previous year |
| I. Income from the key business | 3,816,412,812.51 | 4,665,570,392.15 |
| Including：Business income | 3,816,412,812.51 | 4,665,570,392.15 |
| Interest income | ||
| Insurance fee earned | ||
| Fee and commission received | ||
| II. Total business cost | 3,373,648,113.26 | 4,167,464,873.10 |
| Including：Business cost | 2,866,380,893.72 | 3,677,219,792.28 |
| Interest expense | ||
| Fee and commission paid | ||
| Insurance discharge payment | ||
| Net claim amount paid | ||
| Net amount of withdrawal of insurance contract reserve | ||
| Insurance policy dividend paid | ||
| Reinsurance expenses | ||
| Business tax and surcharge | 15,926,112.39 | 20,764,364.68 |
| Sales expense | 61,858,043.90 | 54,605,649.37 |
| Administrative expense | 141,671,065.56 | 108,880,249.34 |
| R & D costs | 96,775,197.66 | 92,974,038.34 |
| Financial expenses | 195,587,354.83 | 192,105,024.78 |
| Including：Interest expense | 288,031,321.60 | 288,950,916.32 |
| Interest income | -95,626,567.30 | -86,248,410.44 |
| Asset impairment loss | -4,550,554.80 | 20,915,754.31 |
| Credit impairment loss | ||
| Add：Other income | 105,585,373.30 | 22,072,399.68 |
| Investment gain（“-”for loss） | 18,510,790.49 | 23,809,013.93 |
| Including: investment gains from affiliates | 7,222,622.82 | 9,885,561.86 |
| Gains from currency exchange | ||
| Net exposure hedging income | ||
| Changing income of fair value | ||
| Income on disposal of assets | ||
| III. Operational profit（“-”for loss） | 566,860,863.04 | 543,986,932.66 |
| Add ：Non-operational income | 8,308,090.03 | 3,878,016.34 |
| Less: Non-operating expense | 5,567,209.46 | 1,629,618.28 |
| IV. Total profit(“-”for loss) | 569,601,743.61 | 546,235,330.72 |
| Less：Income tax expenses | 118,907,014.42 | 114,231,867.77 |
| V. Net profit | 450,694,729.19 | 432,003,462.95 |
| (I) Classification by business continuity | ||
| 1.Net continuing operating profit | 450,694,729.19 | 432,003,462.95 |
| 2.Termination of operating net profit | ||
| (II) Classification by ownership | ||
| Net profit attributable to the owners of parent company | 431,060,886.41 | 425,984,601.17 |
| Minority shareholders’ equity | 19,633,842.78 | 6,018,861.78 |
| VI. Net after-tax of other comprehensive income | 6,061.60 | |
| Net of profit of other comprehensive income attributable to owners of the parent company. | 3,333.88 | |
| （I）Other comprehensive income items that will not be reclassified into gains/losses in the subsequent accounting period | ||
| 1.Re-measurement of defined benefit plans of changes in net debt or net assets | ||
| 2.Other comprehensive income under the equity method investee can not be reclassified into profit or loss. | ||
| 3. Changes in the fair value of investments in other equity instruments |
| 4. Changes in the fair value of the company’s credit risks | ||
| 5.Other | ||
| （II） Other comprehensive income that will be reclassified into profit or loss. | 3,333.88 | |
| 1.Other comprehensive income under the equity method investee can be reclassified into profit or loss. | ||
| 2. Changes in the fair value of investments in other debt obligations | ||
| 3.Gains and losses from changes in fair value available for sale financial assets | ||
| 4. Other comprehensive income arising from the reclassification of financial assets | ||
| 5.Held-to-maturity investments reclassified to gains and losses of available for sale financial assets | ||
| 6. Allowance for credit impairments in investments in other debt obligations | ||
| 7. Reserve for cash flow hedges | ||
| 8. Translation differences in currency financial statements | 3,333.88 | |
| 9.Other | ||
| Net of profit of other comprehensive income attributable to Minority shareholders’ equity | 2,727.72 | |
| VII. Total comprehensive income | 450,694,729.19 | 432,009,524.55 |
| Total comprehensive income attributable to the owner of the parent company | 431,060,886.41 | 425,987,935.05 |
| Total comprehensive income attributable minority shareholders | 19,633,842.78 | 6,021,589.50 |
| VIII. Earnings per share | ||
| （I）Basic earnings per share | 0.08 | 0.07 |
| (II)Diluted earnings per share | 0.08 | 0.07 |
The current business combination under common control, the net profits of the combined party before achieved net profit of RMB 0.00, last period the combined party realized RMB0.00.
Legal Representative: Wang Lipeng Person in charge of accounting：Feng Qiuju Accounting Dept Leader: Wang Cang
4. Income statement of the Parent Company
In RMB
| Items | Report period | Same period of the previous year |
| I. Revenue | 58,425,489.32 | 50,573,688.01 |
| Including：Business cost | 50,591,128.19 | 30,911,502.36 |
| Business tax and surcharge | 995,340.65 | 1,031,055.02 |
| Sales expense | ||
| Administrative expense | 6,035,848.15 | 7,022,719.76 |
| R & D costs | 879,302.46 | 5,165,021.73 |
| Financial expenses | 56,873,326.71 | 106,787,141.95 |
| Including：Interest expenses | 168,844,922.67 | 163,891,082.00 |
| Interest income | 112,217,347.31 | 57,157,666.05 |
| Asset impairment loss | -241.00 | |
| Credit impairment loss | ||
| Add：Other income | ||
| Investment gain（“-”for loss） | 7,219,446.42 | 23,809,013.93 |
| Including: investment gains from affiliates | 7,219,446.42 | 9,885,561.86 |
| Net exposure hedging income | ||
| Changing income of fair value | ||
| Income on disposal of assets | ||
| II. Operational profit（“-”for loss） | -49,729,769.42 | -76,534,738.88 |
| Add ：Non-operational income | 730.00 | 371.41 |
| Less：Non -operational expenses | 0.15 | |
| III. Total profit(“-”for loss) | -49,729,039.42 | -76,534,367.62 |
| Less：Income tax expenses | ||
| IV. Net profit | -49,729,039.42 | -76,534,367.62 |
| 1.Net continuing operating profit | -49,729,039.42 | -76,534,367.62 |
| 2.Termination of operating net profit | ||
| V. Net after-tax of other comprehensive |
| income | ||
| （I）Other comprehensive income items that will not be reclassified into gains/losses in the subsequent accounting period | ||
| 1.Re-measurement of defined benefit plans of changes in net debt or net assets | ||
| 2.Other comprehensive income under the equity method investee can not be reclassified into profit or loss. | ||
| 3. Changes in the fair value of investments in other equity instruments | ||
| 4. Changes in the fair value of the company’s credit risks | ||
| 5.Other | ||
| （II） Other comprehensive income that will be reclassified into profit or loss. | ||
| 1.Other comprehensive income under the equity method investee can be reclassified into profit or loss. | ||
| 2. Changes in the fair value of investments in other debt obligations | ||
| 3. Gains and losses from changes in fair value available for sale financial assets | ||
| 4. Other comprehensive income arising from the reclassification of financial assets | ||
| 5.Held-to-maturity investments reclassified to gains and losses of available for sale financial assets | ||
| 6. Allowance for credit impairments in investments in other debt obligations | ||
| 7. Reserve for cash flow hedges | ||
| 8. Translation differences in currency financial statements | ||
| 9.Other |
| VI. Total comprehensive income | -49,729,039.42 | -76,534,367.62 |
| VII. Earnings per share | ||
| （I）Basic earnings per share | ||
| (II)Diluted earnings per share |
5. Consolidated Cash flow statement
In RMB
| Items | Report period | Same period of the previous year |
| I. Cash flows from operating activities | ||
| Cash received from sales of goods or rending of services | 5,076,060,941.82 | 4,573,844,188.26 |
| Net increase of customer deposits and capital kept for brother company | ||
| Net increase of loans from central bank | ||
| Net increase of inter-bank loans from other financial bodies | ||
| Cash received against original insurance contract | ||
| Net cash received from reinsurance business | ||
| Net increase of client deposit and investment | ||
| Net increase of amount from disposal financial assets that measured by fair value and with variation reckoned into current gains/losses | ||
| Cash received from interest, commission charge and commission | ||
| Net increase of inter-bank fund received | ||
| Net increase of repurchasing business | ||
| Net cash received by agent in securities trading | ||
| Tax returned | 61,166,837.37 | 28,936,072.03 |
| Other cash received from business operation | 1,198,893,570.39 | 676,868,577.90 |
| Sub-total of cash inflow | 6,336,121,349.58 | 5,279,648,838.19 |
| Cash paid for purchasing of merchandise and services | 4,150,952,638.34 | 5,030,947,005.57 |
| Net increase of client trade and advance | ||
| Net increase of savings in central bank and brother company | ||
| Cash paid for original contract claim | ||
| Net increase in financial assets held for trading purposes | ||
| Net increase for Outgoing call loan | ||
| Cash paid for interest, processing fee and commission | ||
| Cash paid for policy dividend | ||
| Cash paid to staffs or paid for staffs | 299,283,804.82 | 348,304,672.37 |
| Taxes paid | 398,156,980.53 | 262,769,703.54 |
| Other cash paid for business activities | 849,044,296.94 | 695,168,232.73 |
| Sub-total of cash outflow from business activities | 5,697,437,720.63 | 6,337,189,614.21 |
| Net cash generated from /used in operating activities | 638,683,628.95 | -1,057,540,776.02 |
| II. Cash flow generated by investing | ||
| Cash received from investment retrieving | 87,956,080.78 | 1,200,000,000.00 |
| Cash received as investment gains | 13,923,452.07 | |
| Net cash retrieved from disposal of fixed assets, intangible assets, and other long-term assets | 24,000.00 | |
| Net cash received from disposal of subsidiaries or other operational units | ||
| Other investment-related cash received | 339,995,038.76 | 8,227.27 |
| Sub-total of cash inflow due to investment activities | 427,975,119.54 | 1,213,931,679.34 |
| Cash paid for construction of fixed assets, intangible assets and other long-term assets | 106,155,263.08 | 221,643,375.29 |
| Cash paid as investment | 52,099,996.00 | |
| Net increase of loan against pledge |
| Net cash received from subsidiaries and other operational units | ||
| Other cash paid for investment activities | 446,950,176.89 | 260,000,000.00 |
| Sub-total of cash outflow due to investment activities | 553,105,439.97 | 533,743,371.29 |
| Net cash flow generated by investment | -125,130,320.43 | 680,188,308.05 |
| III.Cash flow generated by financing | ||
| Cash received as investment | 2,000,000.00 | |
| Including: Cash received as investment from minor shareholders | ||
| Cash received as loans | 2,939,250,000.00 | 1,164,206,756.55 |
| Cash received from bond placing | ||
| Other financing –related cash received | 1,082,451,154.52 | 103,648,950.73 |
| Sub-total of cash inflow from financing activities | 4,021,701,154.52 | 1,269,855,707.28 |
| Cash to repay debts | 1,776,368,478.34 | 723,884,505.43 |
| Cash paid as dividend, profit, or interests | 352,665,722.75 | 249,936,221.30 |
| Including: Dividend and profit paid by subsidiaries to minor shareholders | ||
| Other cash paid for financing activities | 275,139,574.98 | 477,612,499.98 |
| Sub-total of cash outflow due to financing activities | 2,404,173,776.07 | 1,451,433,226.71 |
| Net cash flow generated by financing | 1,617,527,378.45 | -181,577,519.43 |
| IV. Influence of exchange rate alternation on cash and cash equivalents | -1,426,795.20 | 4,861,325.08 |
| V.Net increase of cash and cash equivalents | 2,129,653,891.77 | -554,068,662.32 |
| Add: balance of cash and cash equivalents at the beginning of term | 14,916,637,291.04 | 25,457,990,759.03 |
| VI ..Balance of cash and cash equivalents at the end of term | 17,046,291,182.81 | 24,903,922,096.71 |
6. Cash Flow Statement of the Parent Company
In RMB
| Items | Amount in this period | Amount in last period |
| I.Cash flows from operating activities | ||
| Cash received from sales of goods or rending of services | 84,181,455.03 | 5,521,970.00 |
| Tax returned | ||
| Other cash received from business operation | 1,013,835,129.83 | 239,806,134.59 |
| Sub-total of cash inflow | 1,098,016,584.86 | 245,328,104.59 |
| Cash paid for purchasing of merchandise and services | 206,012.32 | 834,370.85 |
| Cash paid to staffs or paid for staffs | 4,618,891.20 | 10,318,166.57 |
| Taxes paid | 12,178,186.23 | 1,579,682.56 |
| Other cash paid for business activities | 657,575,351.98 | 230,107,073.24 |
| Sub-total of cash outflow from business activities | 674,578,441.73 | 242,839,293.22 |
| Net cash generated from /used in operating activities | 423,438,143.13 | 2,488,811.37 |
| II. Cash flow generated by investing | ||
| Cash received from investment retrieving | 1,220,000,000.00 | |
| Cash received as investment gains | 678,923,452.07 | |
| Net cash retrieved from disposal of fixed assets, intangible assets, and other long-term assets | ||
| Net cash received from disposal of subsidiaries or other operational units | ||
| Other investment-related cash received | ||
| Sub-total of cash inflow due to investment activities | 1,898,923,452.07 | |
| Cash paid for construction of fixed assets, intangible assets and other long-term assets | ||
| Cash paid as investment | 225,300,000.00 | 271,040,000.00 |
| Net cash received from subsidiaries and other operational units | ||
| Other cash paid for investment activities | 8,364,163,788.74 | 5,720,200,000.00 |
| Sub-total of cash outflow due to investment activities | 8,589,463,788.74 | 5,991,240,000.00 |
| Net cash flow generated by investment | -8,589,463,788.74 | -4,092,316,547.93 |
| III. Cash flow generated by financing | ||
| Cash received as investment | 0.00 | 0.00 |
| Cash received as loans | 1,130,000,000.00 | 350,000,000.00 |
| Cash received from bond placing | ||
| Other financing –related ash received | 7,896,851,205.51 | 4,263,448,809.94 |
| Sub-total of cash inflow from financing activities | 9,026,851,205.51 | 4,613,448,809.94 |
| Cash to repay debts | 322,883,333.28 | 423,883,333.34 |
| Cash paid as dividend, profit, or interests | 96,424,046.00 | 95,990,973.14 |
| Other cash paid for financing activities | ||
| Sub-total of cash outflow due to financing activities | 419,307,379.28 | 519,874,306.48 |
| Net cash flow generated by financing | 8,607,543,826.23 | 4,093,574,503.46 |
| IV. Influence of exchange rate alternation on cash and cash equivalents | ||
| V.Net increase of cash and cash equivalents | 441,518,180.62 | 3,746,766.90 |
| Add: balance of cash and cash equivalents at the beginning of term | 9,732,302,654.23 | 11,224,359,236.39 |
| VI ..Balance of cash and cash equivalents at the end of term | 10,173,820,834.85 | 11,228,106,003.29 |
II Adjustments to the Financial Statements1. 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
Consolidated balance sheet
In RMB
| Items | December 31, 2018 | January 1, 2019 | Adjustment |
| Current asset： |
| Cash and bank balances | 19,807,094,397.16 | 19,807,094,397.16 | |
| Notes receivable & account receivable | 14,852,563,398.56 | 14,852,563,398.56 | |
| Including：Notes receivable | 499,781,503.17 | 499,781,503.17 | |
| Notes receivable | 14,352,781,895.39 | 14,352,781,895.39 | |
| Prepayments | 5,215,414,219.51 | 5,215,414,219.51 | |
| Other account receivable | 1,125,991,020.55 | 1,125,991,020.55 | |
| Including：Interest receivable | 56,811,961.67 | 56,811,961.67 | |
| Inventories | 3,510,786,666.85 | 3,510,786,666.85 | |
| Held-for-sale assets | 119,355,435.58 | 119,355,435.58 | |
| Other current assets | 809,360,778.49 | 809,360,778.49 | |
| Total of current assets | 45,440,565,916.70 | 45,440,565,916.70 | |
| Non-current assets： | |||
| 发放贷款和垫款 | 0.00 | ||
| Available-for-sale financial assets | 243,158,605.30 | Not applicable | -243,158,605.30 |
| Long-term receivable | 344,430,815.68 | 344,430,815.68 | |
| Long term share equity investment | 2,174,347,969.22 | 2,174,347,969.22 | |
| Other equity instruments investment | Not applicable | 243,158,605.30 | 243,158,605.30 |
| Property investment | 686,993,881.02 | 686,993,881.02 | |
| Fixed assets | 9,634,463,323.77 | 9,634,463,323.77 | |
| Construction in progress | 5,013,941,980.61 | 5,013,941,980.61 | |
| Intangible assets | 1,146,949,745.14 | 1,146,949,745.14 | |
| Development expenses | 37,122,235.94 | 37,122,235.94 | |
| Goodwill | 2,835,672,586.90 | 2,835,672,586.90 | |
| Long-germ expenses to be amortized | 21,884,204.82 | 21,884,204.82 | |
| Deferred tax assets | 533,094,627.68 | 533,094,627.68 | |
| Other non-current asset | 4,463,496,966.82 | 4,463,496,966.82 | |
| Total of non-current assets | 27,135,556,942.90 | 27,135,556,942.90 | |
| Total of assets | 72,576,122,859.60 | 72,576,122,859.60 | |
| Current liabilities | |||
| Short-term loans | 8,361,106,651.33 | 8,361,106,651.33 |
| Notes payable & account payable | 10,276,094,132.88 | 10,276,094,132.88 | |
| Advance payment | 1,402,283,662.37 | 1,402,283,662.37 | |
| Employees’ wage payable | 238,146,977.17 | 238,146,977.17 | |
| Tax payable | 817,173,127.12 | 817,173,127.12 | |
| Other account payable | 2,089,603,676.60 | 2,089,603,676.60 | |
| Including：Interest payable | 117,554,951.58 | 117,554,951.58 | |
| Non-current liability due within 1 year | 3,697,392,864.91 | 3,697,392,864.91 | |
| Other current liability | 315,193,128.73 | 315,193,128.73 | |
| Total of current liability | 27,196,994,221.11 | 27,196,994,221.11 | |
| Non-current liabilities： | |||
| Long-term loan | 2,741,589,600.00 | 2,741,589,600.00 | |
| Bond payable | 5,630,818,825.32 | 5,630,818,825.32 | |
| Long-term payable | 2,644,309,592.95 | 2,644,309,592.95 | |
| Estimated liabilities | 99,765,750.04 | 99,765,750.04 | |
| Deferred income | 676,146,399.31 | 676,146,399.31 | |
| Deferred income tax liability | 55,192,983.97 | 55,192,983.97 | |
| Other non-current liability | 108,000,000.00 | 108,000,000.00 | |
| Total non-current liabilities | 11,955,823,151.59 | 11,955,823,151.59 | |
| Total of liability | 39,152,817,372.70 | 39,152,817,372.70 | |
| Owners’ equity | |||
| Share capital | 5,730,250,118.00 | 5,730,250,118.00 | |
| Capital reserves | 21,786,233,393.78 | 21,786,233,393.78 | |
| Less: treasury shares | 4,422,320.00 | 4,422,320.00 | |
| Other comprehensive income | -29,175.80 | -29,175.80 | |
| Special reserve | 12,614,331.35 | 12,614,331.35 | |
| Surplus reserves | 245,507,019.95 | 245,507,019.95 | |
| Retained profit | 4,750,977,557.86 | 4,750,977,557.86 | |
| Total of owner’s equity belong to the parent company | 32,521,130,925.14 | 32,521,130,925.14 | |
| Minority shareholders’ equity | 902,174,561.76 | 902,174,561.76 | |
| Total of owners’ equity | 33,423,305,486.90 | 33,423,305,486.90 | |
| Total of liabilities and owners’ equity | 72,576,122,859.60 | 72,576,122,859.60 |
Adjustment statement
The new financial standard was implemented on January 1, 2019. According to the new financial instrument standard,the ending of the 2018 statement available-for-sale financial assets was adjusted to other equity instrumentinvestments at the beginning of 2019.
Parent Company Balance Sheet
In RMB
| Items | December 31, 2018 | January 1, 2019 | Adjustment |
| Current asset： | |||
| Cash and bank balances | 9,732,302,654.23 | 9,732,302,654.23 | |
| Notes receivable & account receivable | 176,613,926.23 | 176,613,926.23 | |
| Including：Notes receivable | 50,000.00 | 50,000.00 | |
| Account receivable | 176,563,926.23 | 176,563,926.23 | |
| Prepayments | 2,008,364.11 | 2,008,364.11 | |
| Other account receivable | 6,281,675,319.27 | 6,281,675,319.27 | |
| Including：Interest receivable | 7,521,489.86 | 7,521,489.86 | |
| Dividend receivable | 500,000,000.00 | 500,000,000.00 | |
| Inventories | 269,759,580.95 | 269,759,580.95 | |
| Other current assets | 148,973.38 | 148,973.38 | |
| Total of current assets | 16,462,508,818.17 | 16,462,508,818.17 | |
| Non-current assets： | |||
| Available-for-sale financial assets | 129,500,056.00 | Not applicable | -129,500,056.00 |
| Long term share equity investment | 26,504,735,200.89 | 26,504,735,200.89 | |
| Other equity instruments investment | Not applicable | 129,500,056.00 | 129,500,056.00 |
| Fixed assets | 160,867,244.63 | 160,867,244.63 | |
| Intangible assets | 9,339,387.26 | 9,339,387.26 | |
| Deferred income tax assets | 119,964,967.85 | 119,964,967.85 | |
| Total of non-current assets | 26,924,406,856.63 | 26,924,406,856.63 | |
| Total of assets | 43,386,915,674.80 | 43,386,915,674.80 | |
| Current liabilities | |||
| Short-term loans | 4,278,000,000.00 | 4,278,000,000.00 | |
| Notes payable & | 11,500,796.58 | 11,500,796.58 |
| Account payable | |||
| Prepayments | 1,991,498.78 | 1,991,498.78 | |
| Employees’ wage payable | 4,484,401.86 | 4,484,401.86 | |
| Tax payable | 17,959,833.09 | 17,959,833.09 | |
| Other account payable | 3,656,725,253.66 | 3,656,725,253.66 | |
| Including：Interest payable | 97,197,464.99 | 97,197,464.99 | |
| Non-current liabilities due within 1 year | 1,533,383,333.28 | 1,533,383,333.28 | |
| Total of current assets | 9,504,045,117.25 | 9,504,045,117.25 | |
| Non-current assets： | |||
| Bond payable | 5,630,818,825.32 | 5,630,818,825.32 | |
| Total of non-current assets | 5,630,818,825.32 | 5,630,818,825.32 | |
| Total of assets | 15,134,863,942.57 | 15,134,863,942.57 | |
| Owners’ equity | |||
| Share capital | 5,730,250,118.00 | 5,730,250,118.00 | |
| Capital reserves | 21,832,453,907.50 | 21,832,453,907.50 | |
| Less: treasury shares | 4,422,320.00 | 4,422,320.00 | |
| Surplus reserves | 226,517,795.62 | 226,517,795.62 | |
| Retained profit | 467,252,231.11 | 467,252,231.11 | |
| Total of owners’ equity | 28,252,051,732.23 | 28,252,051,732.23 | |
| Total of liabilities and owners’ equity | 43,386,915,674.80 | 43,386,915,674.80 |
Adjustment statement
The new financial standard was implemented on January 1, 2019. According to the new financial instrument standard,the ending of the 2018 statement available-for-sale financial assets was adjusted to other equity instrumentinvestments at the beginning of 2019.
2. Retrospective Restatement of Previous Comparative Data due to the First Execution of any NewStandards Governing Financial Instruments or Leases
√ Applicable □Not applicableBeginning January 1, 2019, the company began to implement the new financial instrument guidelines, but does notinvolve data adjustment during the comparative period of the income statement.
III. Auditor’ reportIs the First Quarterly Report be audited?□ Yes √No
The First Quarterly report is not audited.
Tunghsu Optoelectronic Technology Co., Ltd.
Board Chairman: Wang Lipeng
Issue day approved by the Board of Directors：April 29,2019