Zhejiang Dahua Technology Co., Ltd.
2020 Q1 Report
April 2020
Section I Important Notice
The Board of Directors, the Board of Supervisors, directors, supervisors andsenior management members of the Company hereby guarantee that the informationpresented in this quarterly report is authentic, accurate, complete and free of anyfalse records, misleading statements or material omissions, and they will bear jointand several liabilities for such information.All the directors attended the meeting of the Board of Directors for thedeliberation of this quarterly report.Fu Liquan, the Company's legal representative, Xu Qiaofen, person in charge ofaccounting, and Zhu Zhuling, person in charge of accounting institution (AccountingOfficer) hereby declare and warrant that the financial statements in the quarterlyreport are authentic, accurate and complete.
Section II Basic Information about the CompanyI. Key Accounting Data and Financial IndicatorsWhether the Company needs performed retroactive adjustment or restatement of accounting data in prior years or not
□ Yes √ No
| The Current Reporting Period | The same period of last year | Increase/Decrease of the Current Reporting Period Compared with the Same Period of the Previous Year | |
| Operating income (RMB) | 3,501,562,275.80 | 4,347,918,104.26 | -19.47% |
| Net profit attributable to shareholders of the listed Company (RMB) | 317,916,471.89 | 316,343,906.02 | 0.50% |
| Net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses (RMB) | 300,408,224.85 | 286,016,593.97 | 5.03% |
| Net cash flow generated by operational activities (RMB) | -1,190,517,598.97 | -1,728,487,212.91 | 31.12% |
| Basic Earnings per Share (RMB/Share) | 0.11 | 0.11 | 0.00% |
| Diluted Earnings per Share (RMB/Share) | 0.11 | 0.11 | 0.00% |
| Weighted Average ROE | 2.01% | 2.47% | -0.46% |
| At The End Of The Current Reporting Period | At the End of the Previous Year | Increase/Decrease at the End of the Current Reporting Period Compared with the End of the Previous Year | |
| Total assets (RMB) | 28,388,447,811.63 | 29,564,650,212.93 | -3.98% |
| Net assets attributable to shareholders of the listed company (RMB) | 15,990,648,253.00 | 15,643,007,027.91 | 2.22% |
Non-recurring Gains and Losses Items and Their Amounts
√ Applicable □ Not applicable
Unit: RMB
| Item Name | The Amount from the Beginning of the Year to the End of the Current Reporting Period | Note |
| Profits or losses from disposal of non-current assets (including the write-off for the accrued impairment of assets) | -132,203.62 | |
| The government subsidies included in the current profits and losses | 28,990,645.44 |
| (excluding the government subsidies closely related to regular businesses of the Company and issued in the quota or quantity based on the national standards) | ||
| Profits and losses resulting from the changes in fair value for holding trading financial assets, derivative financial assets and trading financial liabilities, derivative financial liabilities and investment income from disposal of trading financial assets, derivative financial assets, trading financial liabilities, derivative financial liabilities, and other obligatory right investment, excluding the effective hedging businesses related to the regular business operation of the Company | 891,512.89 | |
| Non-Operating Revenue and expenses other than the above | -4,601,595.85 | |
| Other gains and losses items that fit the definition of non-recurring gains and losses | 210,491.25 | |
| Less: Impact of income tax | 5,543,784.54 | |
| Impact of minority equity (after tax) | 2,306,818.53 | |
| Total | 17,508,247.04 | -- |
For items defined as non-recurring gains and losses according to the No. 1 Explanatory Announcement on Information Disclosure forCompanies Offering Their Securities to Public - Non-recurring Gains and Losses, or non-recurring gains and losses items listed in thesaid document defined as recurring ones, please specify the reasons.
□ Applicable √ Not applicable
In the reporting period, the Company did not define any non-recurring gains and losses items defined and listed in the No. 1 ExplanatoryAnnouncement on Information Disclosure for Companies Offering Their Securities to Public - Non-recurring Gains and Losses, asrecurring gains and losses items.II. The Total Number of Shareholder and the Holdings of the Top 10 Shareholders at the Endof the Current Reporting Period
1. The number of common shareholders and preferred shareholders with resumed voting rights andthe shareholdings of the top 10 shareholders
Unit: share
| Total Number Of Common Shareholders At The End Of The Reporting Period | 159,822 | Total Number of Preferred Shareholders (If Any) Whose Voting Rights have been Recovered at the End of the Reporting Period | 0 | |||
| The shareholdings of the top 10 shareholders | ||||||
| Name of Shareholder | Nature Of Shareholder | Shareholding Percentage | Number of shares held | Number of shares held with limited sales conditions | Pledges or freezings | |
| State Of Shares | Number | |||||
| Fu Liquan | Domestic Natural Person | 35.25% | 1,060,331,880 | 811,561,410 | Pledge | 184,242,000 |
| Zhu Jiangming | Domestic Natural Person | 6.20% | 186,461,490 | 139,846,117 | Pledge | 36,504,000 |
| Hong Kong Securities Clearing Co. Ltd. | Overseas Legal Person | 5.78% | 173,957,038 | 0 | ||
| Chen Ailing | Domestic Natural Person | 2.37% | 71,262,813 | 53,447,110 | Pledge | 21,100,000 |
| Wu Jun | Domestic Natural Person | 2.30% | 69,250,886 | 51,938,164 | ||
| China Securities Finance Co., Ltd. | Domestic Non-state-owned Legal Person | 1.32% | 39,611,241 | 0 | ||
| Central Huijin Asset Management Co., Ltd. | State-owned Legal Person | 1.05% | 31,448,750 | 0 | ||
| Shanghai Greenwoods Asset Management Co., Ltd. - Greenwoods Global Fund | Others | 1.02% | 30,811,881 | 0 | ||
| Fidelity Investments Management (Hong Kong) Limited - funds of customers | Overseas Legal Person | 0.53% | 16,090,193 | 0 | ||
| Haitong Securities Co., Ltd. | State-owned Legal Person | 0.47% | 14,223,577 | 0 | ||
| Shareholding list of top ten shareholders without limited sales condition | ||||||
| Name of Shareholder | Number of shares held without limited sales condition | Type of shares | ||||
| Type of shares | Number | |||||
| Fu Liquan | 248,770,470 | RMB common stock | 248,770,470 | |||
| Hong Kong Securities Clearing Co. Ltd. | 173,957,038 | RMB common stock | 173,957,038 | |||
| Zhu Jiangming | 46,615,373 | RMB common stock | 46,615,373 | |||
| China Securities Finance Co., Ltd. | 39,611,241 | RMB common stock | 39,611,241 | |||
| Central Huijin Asset Management Co., Ltd. | 31,448,750 | RMB common stock | 31,448,750 | |||
| Shanghai Greenwoods Asset Management Co., Ltd. - Greenwoods Global Fund | 30,811,881 | RMB common stock | 30,811,881 | |||
| Chen Ailing | 17,815,703 | RMB common stock | 17,815,703 |
| Wu Jun | 17,312,722 | RMB common stock | 17,312,722 |
| Fidelity Investments Management (Hong Kong) Limited - funds of customers | 16,090,193 | RMB common stock | 16,090,193 |
| Haitong Securities Co., Ltd. | 14,223,577 | RMB common stock | 14,223,577 |
| Description of the association relationship or concerted action of above-mentioned shareholders | Mr. Fu Liquan And Ms. Chen Ailing Are Husband And Wife. The Company Is Unaware Of Whether Other Shareholders Have Associated Relationship Or Are Persons Acting In Concert. | ||
| Explanation On Top Ten Shareholders’ Participation In Securities Margin Trading (If Any) | N/A | ||
Whether the Company's top ten common shareholders or top ten common shareholders without limited shares agree on any repurchasetransaction in the reporting period
□ Yes √ No
None of the Company's top ten common shareholders or top ten common shareholders without limited shares agreed on repurchase inthe reporting period.
2. The total number of the preferred shareholders and the shareholdings of the top 10 preferredshareholders
□ Applicable √ Not applicable
Section III Significant EventsI. The Changes in Major Financial Data and Financial Indicators in the Current ReportingPeriod and the Reasons
√ Applicable □ Not applicable
i. The changes of assets and liabilities and the reasons
1. The trading financial assets are increased by 100% compared with the end of the previous year, which is mainly caused by that thecontracts for FX options are undue at the end of this period;
2. The contract assets are increased by 100% compared with the end of the previous year, which is mainly caused by the adjustments tostatements due to the implementation of the new revenue recognition standard;
3. The non-current assets due within one year are increased by 35.49% compared with the end of the previous year, which is mainlycaused by the increase of long-term receivables due within one year;
4. The other non-current financial assets are increased by 160.90%compared with the end of the previous year, which is mainly causedby the new external equity investments of this period;
5. The other non-current assets are increased by 45.71% compared with the end of the previous year, which is mainly caused by theincrease of advances for long-assets in this period;
6. The short-term loans are increased by 242.67% compared with the end of the previous year, which is mainly caused by the increase ofshort-term loans from banks in this period;
7. The notes payable are decreased by 37.88% compared with the end of the previous year, which is mainly caused by the settlement ofnotes due;
8. The accounts received are in advance decreased by 100% compared with the end of the previous year, which is mainly caused by theadjustments to statements due to the implementation of the new revenue recognition standard;
9. The contract liabilities are increased by 100% compared with the end of the previous year, which is mainly caused by the adjustmentsto statements due to the implementation of the new revenue recognition standard;
10. The employee remuneration payables are decreased by 66.97% compared with the end of the previous year, which is mainly causedby the distribution of year-end bonuses;
11. The other current liabilities are increased by 34.87% compared with the end of the previous year, which is mainly caused by theincrease of long-term receivables due within one year and the increase of taxes for items to be written off;
12. The long-term loans are increased by 260.78% compared with the end of the previous year, which is mainly caused by the increase oflong-term loans from banks;
13. The other comprehensive income is increased by 81.25% compared with the end of the previous year, which is mainly caused by theincrease of exchange differences from the translation of foreign currency statements.ii. The changes of items in the income statement and the reasons
1. The operating costs are decreased by 34.64% compared with the same period of the previous year, because on one hand, theCompany enhanced the cost reduction management and optimized the product structure, and on the other hand, the Company's incomehas a year-on-year decrease, and the costs decrease accordingly;
2. The financial expenses are decreased by 61.76% compared with the same period of the previous year, which is mainly caused by thedecrease in exchange loss compared with the same period of the previous year;
3. The returns on investments are decreased by 59.76% compared with the same period of the previous year, which is mainly caused bythe increase of confirmed investment loss of associates compared with the same period of the previous year;
4. The gains and losses from changes in fair value are decreased by 100% compared with the same period of the previous year, which is
mainly caused by the decrease of changes in the fair value of financial derivatives in this period;
5. The credit impairment loss is decreased by 84.27% compared with the same period of the previous year, which is mainly caused by thedecrease of long-term receivables compared with the beginning of this year and the decrease of corresponding expected credit loss;
6. The non-operating income is decreased by 71.17% compared with the same period of the previous year, which is mainly caused by thedecrease of government subsidies received in this period compared with the same period of the previous year;
7. The non-operating expenses are increased by 1192.22% compared with the same period of the previous year, which is mainly causedby the increase of public welfare donations in the fight against COVID-19.iii. The changes of items in the cash flow statement and the reasons
1. The net amount of cash flow generated by business activities are increased by 31.12% compared with the same period of the previousyear, which is mainly caused by the increase of payment collection arising from the enhanced management of receivables;
2. The net amount of cash flow generated by investment activities is decreased by 88.73% compared with the same period of theprevious year, which is mainly caused by the increase of external equity investments and investments in financial derivatives comparedwith the same period of the previous year.II. Progress of Significant Events and the Analysis of Its Influence and Solutions
√ Applicable □ Not applicable
1. On May 16, 2017, the Company reviewed and approved the Phase III Employee Stock Ownership Plan (ESOP) of ZhejiangDahua Technology Co., Ltd. (Draft) and its summary in the 2016 annual stockholders' meeting, and decided to implement the Phase IIIESOP. On 1 June 2017, the Company's Phase III Employee Stock Ownership Plan completed the purchase of the shares through theCaitong Securities Asset Management Dahua No. 3 Directed Asset Management Plan, with an average purchase price of RMB16.83 pershare and a purchase volume of 47,000,000 shares.
On November 12, 2018, the Company's 18th meeting of the 6th Board of Directors reviewed and approved "the Suggestive Proposalon Extension of the Impending Expiration of the Company's Third Employee Stock Ownership Plan Duration". The Board of Directorsagreed to extend the Company's third employee stock ownership plan for one year according to the voting results of the shareholders'meeting. That is, the duration was extended for one additional year on the basis of the original termination date, until May 15, 2020.
As of January 21, 2020, the Company's shares held by CAITONG Securities in accordance with Dahua No. 3 Directional AssetManagement Plan have all been sold out, and the Phase III ESOP has been implemented and terminated.
2. On January 16, 2020, the Company reviewed and approved the Proposal on Buy-Back and Cancellation of Some Granted butUnlocked Restricted Stocks in the first extraordinary general meeting of 2020, agreeing to buy back and cancel 437,100 shares ofunlocked restricted stock that have been granted to 16 beneficiaries who have left the Company (wherein 427,100 shares that weregranted first will be bought back at the price of RMB 8.17/share; the reserved 10,000 shares will be bought back at the price of RMB
8.75/share) and reduce the registered capital accordingly. The above-mentioned buy-back has been completed on April 27, 2020.
3. On February 3, 2020, the Company reviewed and approved the Proposal on Joint Investment with Related Persons and RelatedParty Transactions in the 30th meeting of the 6th Board of Directors. The Company and its related legal persons Ningbo HuaguEnterprise Management Partnership (Limited Partnership) and Ningbo Hualing Investment Management Partnership (LimitedPartnership) jointly contributed RMB 50 million to set up Zhejiang Dahua Storage Technology Co., Ltd. Among them, Dahua contributedRMB 25.50 million with its own funds, accounting for 51% of the registered capital. In February 2020, the company was incorporated.
4. On February 24, 2020, the company reviewed and approved the Proposal on Joint Investment with Related Parties to Establish aHolding Subsidiary and Related Party Transactions in the 31st meeting of the 6th Board of Directors. The Company and its related legalpersons Zhejiang Leapmotor Technology Co., Ltd., Ningbo Hualing Investment Management Partnership (Limited Partnership) andNingbo Huaqi Enterprise Management Partnership (Limited Partnership) jointly contributed RMB 150 million to set up Zhejiang DahuaAutomotive Technology Co., Ltd. Among them, Dahua contributed RMB 76.50 million with its own funds, accounting for 51% of theregistered capital. In March 2020, the company was incorporated.
5. On February 24, 2020, the Company reviewed and approved the Proposal on Investment in Establishing a Joint VentureCompany in the 31st meeting of the 6th Board of Directors. The Company and Tianjin Rongyu Enterprise Management Partnership(Limited Partnership), Tianjin Qushi Enterprise Management Consulting Partnership (Limited Partnership), and Huzhou Xubo Smart CityTechnology Partnership (Limited Partnership) signed a Joint Venture Agreement to jointly setting up a joint venture temporarily named asChina Ruixin Digital Technology Co., Ltd., with a registered capital of RMB 800 million, and the Company's shareholding accounted for20%. In March 2020, the company was incorporated. The name approved by the industrial and commercial authority is China RuixinDigital Technology Co., Ltd.
6. On April 2, 2020, the Company reviewed and approved the Proposal on Buy-Back and Cancellation of Some Granted butUnlocked Restricted Stocks in the 33rd meeting of the 6th Board of Directors and the 19th meeting of the 6th Board of Supervisors,agreeing to buy back and cancel 1,810,600 shares of unlocked restricted stock that have been granted to 36 beneficiaries who have leftthe Company (wherein 1,787,600 shares that were granted first will be bought back at the price of RMB 8.17/share; the reserved 23,000shares will be bought back at the price of RMB 8.75/share) and reduce the registered capital accordingly. The aforesaid matters shall bereviewed in the shareholders' meeting.
7. On April 2, 2020, the Company reviewed and approved the Proposal on the Satisfaction of Unlocking Conditions for the FirstUnlocking Period of the First Grant of the 2018 Restricted Stock Incentive Plan in the 33rd meeting of the 6th Board of Directors and the19th meeting of the 6th Board of Supervisors. The unlocking conditions for the first unlocking period of the first grant of the incentive planwere met so as to agree to unlock 36,931,560 shares of restricted stock which have been granted to 2901 beneficiaries. The unlockedshares can be circulated in the market since April 16, 2020.
| Overview of the significant events | Date of Disclosure | Indexes for the inquiry of websites disclosing the provisional reports |
| The Announcement on the Resolutions made on the 2016 Annual General Meeting of Shareholders | May 17, 2017 | Juchao Information Website http://www.cninfo.com.cn/ |
| The Announcement on the Accomplishment of the Purchase for the Phase III ESOP | June 2, 2017 | Juchao Information Website http://www.cninfo.com.cn/ |
| The Indicative Announcement on the Expiration of the Phase III ESOP and the Announcement on the Extension | November 13, 2018 | Juchao Information Website http://www.cninfo.com.cn/ |
| The Announcement on the Sell-out of Shares and the Termination of the Phase III ESOP | January 22, 2020 | Juchao Information Website http://www.cninfo.com.cn/ |
| The Announcement on the Resolution of the First Extraordinary General Meeting of 2020 | January 17, 2020 | Juchao Information Website http://www.cninfo.com.cn/ |
| The Announcement on the Accomplishment of the Repurchase and Cancellation of Part of Restricted Shares | April 28, 2020 | Juchao Information Website http://www.cninfo.com.cn/ |
| The Announcement on the Joint Investment with Related Persons and the Related Party Transactions | February 4, 2020 | Juchao Information Website http://www.cninfo.com.cn/ |
| February 24, 2020 | Juchao Information Website http://www.cninfo.com.cn/ | |
| The Announcement on the Buy-Back and Cancellation of Some Granted But Unlocked Restricted Stocks, the Announcement on the Satisfaction of Unlocking Conditions for the First Unlocking Period of the First Grant of the 2018 Restricted Stock Incentive Plan | April 3, 2020 | Juchao Information Website http://www.cninfo.com.cn/ |
| The Indicative Announcement on the Listing and Circulation of Shares Unlocked during the First Unlocking Period of the First Grant of the 2018 Restricted Stock Incentive Plan | April 14, 2020 | Juchao Information Website http://www.cninfo.com.cn/ |
The progress on share repurchases
√ Applicable □ Not applicable
On April 25, 2019, the Company reviewed and approved the Proposal on the Scheme for the Buy-back of Shares in the 21st meetingof the 6th Board of Directors, planning to use the raised fund to buy back its shares through centralized competitive bidding. The totalamount of fund for the buy-back shall be not less than RMB 200 million (inclusive) and not more than RMB 400 million (inclusive). Theprice of the repurchase shall not exceed RMB 25.37 per share (inclusive). Calculated according to the purchase price and the upper limitfor the repurchase, it’s estimated to buy back 15,766,653 shares. The repurchased shares will make up 0.53% of the current total sharecapital of the Company. The specific amount of repurchased shares and the proportion in the total share capital of the Company shall besubject to the actually repurchased number of shares and the actual proportion when the period of repurchase expires. The period for theimplementation of repurchase shall be 12 months from the day the Board of Directors reviews and approves the repurchase scheme.
On June 14, 2019, the Company disclosed the Announcement on the Fist Buy-back of the Company's Shares (Announcement No.:
2019-039). During the period of buy-back, the Company published an Announcement on the Progress of the Buy-back of Shares withinthe first 3 trading days of each month (the announcements are respectively numbered as: 2019-041, 2019-046, 2019-055, 2019-063,2019-073, 2019-078, 2019-093, 2020-008, 2020-017, and 2020-031). For the details, see the relevant announcements disclosed by theCompany on the designated media for the disclosure of information--Securities Times and Juchao Information Website(http://www.cninfo.com.cn).
On April 25, 2020, the Company disclosed the Announcement on the Implementation of the Buy-back of Shares and the Changes inShares (Announcement No.: 2020-036). As at April 24, 2020, the Company bought back 13,391,480 shares with its special securitiesaccount for the buy-back of shares through centralized competitive bidding, accounting for 0.4452% of the total capital then. The highesttransaction price was RMB 17.88/share and the lowest transaction price was RMB 12.90/share. The total transaction amount was RMB203,499,400.44 (excluding the transaction fees). Till now, the period for the buy-back of shares has expired and the buy-back has beencompleted.The progress on reduction of re-purchase shares by means of centralized bidding
□ Applicable √ Not applicable
III. Commitments made by the Company's actual controllers, shareholders, related parties,purchasers and purchasing companies having not been fulfilled during the reporting period
□ Applicable √ Not applicable
During this reporting period, there is no commitment made by the Company's actual controllers, shareholders, related parties, purchasersand purchasing companies having not been fulfilled during the reporting period.IV. Estimation of Business Performance in January to June 2020
□ Applicable √ Not applicable
V. Securities Investment
□ Applicable √ Not applicable
In this reporting period, the Company has no securities investment.
VI. Entrusted Financing
□ Applicable √ Not applicable
No such case as entrusted financing during the reporting period.
VII. Derivatives Investment
√ Applicable □ Not applicable
Unit: ten thousand RMB
| Name of derivatives investment operator | Relation | Whether it is a related party transaction | Type of derivatives investment | Initial investment amount of the derivatives investment | Start date | Termination date | Investment amount at the beginning of this period | Amount purchased during the reporting period | Amount sold during the reporting period | Amount of provision for impairment (if any) | Investment amount at the end of this period | The proportion of the investment amount in the net assets of the Company at the end of this reporting period | Actual gains and losses in the reporting period |
| Bank | With no related party relationship | No | Options | March 18, 2020 | April 1, 2020 | 14,170.2 | 7,085.1 | 0 | 7,085.1 | 0.44% | -10.06 | ||
| Bank | With no related party relationship | No | Forwards | February 28, 2020 | March 30, 2020 | 29,012.65 | 29,012.65 | 43.95 | |||||
| Total | -- | -- | 43,182.85 | 36,097.75 | 7,085.1 | 0.44% | 33.89 | ||||||
| Sources of funds of derivatives investment | Equity Fund | ||||||||||||
| Lawsuits involved (if appropriate) | N/A | ||||||||||||
| The disclosure date of the announcement of the Board of | March 19, 2019 | ||||||||||||
| Directors on the approval of the derivatives investment (if any) | |
| The disclosure date of the announcement of the Board of Shareholders on the approval of the derivatives investment (if any) | April 10, 2019 |
| Risk analysis on the holding of derivatives in the reporting period and the control measures (including but not limited to market risks, liquidity risks, credit risks, operational risks, legal risks, etc.) | For the details of the risk analysis and the control measures, see the Announcement on Conducting FX Hedging Transactions disclosed by the Company on March 19, 2019 (Announcement No.: 2019-010). |
| The specific way and the relevant assumptions and parameters for the analysis of the fair value of the derivatives shall be disclosed for the changes in the market value or fair value of the invested derivatives in the reporting period. | For the accounting of the fair value of derivatives, based on the contracts signed by the Company and banks on future foreign exchange settlement and sale businesses which are not due, the Company determines the changes in the fair value of undelivered foreign exchange settlement and sale business according to the quotation of forward exchange rate given by financial institutions according to the remaining time of delivery. |
| Note on whether there are materials changes in the accounting policies and specific accounting principles of derivatives in the reporting period compared with the last reporting period | N/A |
| Special opinions of independent directors on the Company's investment in derivatives and the rick control | N/A |
VIII. Illegal External Guarantees
□ Applicable √ Not applicable
No illegal external guarantees during the reporting period.
IX. Non-operational Capital Occupation over Listed Companies by Controlling Shareholdersand Their Related Parties
□ Applicable √ Not applicable
During the reporting period, there is no non-operational capital occupation over listed companies by controlling shareholders and theirrelated parties.X. Registration Form for Reception of Research, Communication, Interviews and OtherActivities During the Reporting Period
√ Applicable □ Not applicable
| Reception Time | Reception Method | Reception target type | Index of the basic information of research |
| January 7, 2020 | Field Investigation | Institution | For more information, please see the investor relations activity list in http://www.cninfo.com.cn |
| January 16, 2020 | Field Investigation | Institution, individual | For more information, please see the investor relations activity list in http://www.cninfo.com.cn |
| February 28, 2020 | Telephone communication | Institution, individual | For more information, please see the investor relations activity list in http://www.cninfo.com.cn |
| April 3, 2020 | Telephone communication | Institution, individual | For more information, please see the investor relations activity list in http://www.cninfo.com.cn |
Section IV Financial StatementsI. Financial Statements
1. Consolidated Balance Sheet
Prepared by: Zhejiang Dahua Technology Co., Ltd.
March 31, 2020
Unit: RMB
| Item Name | March 31, 2020 | December 31, 2019 |
| Current Assets: | ||
| Cash and Bank Balances | 2,928,745,111.33 | 3,084,428,970.43 |
| Deposit Reservation for Balance | ||
| Loans to Banks and Other Financial Institutions | ||
| Trading Financial Assets | 70,851,000.00 | |
| Derivative Financial Assets | ||
| Notes receivable | ||
| Accounts receivable | 11,494,669,264.97 | 13,241,196,380.65 |
| Receivables Financing | 797,642,695.83 | 1,086,017,357.90 |
| Prepayments | 126,007,150.21 | 128,182,099.47 |
| Premium Receivable | ||
| Reinsurance Accounts Receivable | ||
| Reinsurance Contract Reserves Receivable | ||
| Other Receivables | 365,087,821.35 | 408,776,610.17 |
| Including: interest receivable | ||
| Dividends Receivable | ||
| Buying Back the Sale of Financial Assets | ||
| Inventory | 4,904,697,984.82 | 3,839,810,704.33 |
| Contract Assets | 926,962.43 | |
| Holding for-sale assets | ||
| Non-current Assets Due within 1 Year | 854,562,343.96 | 630,717,329.58 |
| Other Current Assets | 428,523,592.20 | 556,311,770.08 |
| Subtotal of Current Assets | 21,971,713,927.10 | 22,975,441,222.61 |
| Non-current Assets: | ||
| Granting of loans and advances | ||
| Investment in Creditor's Rights | ||
| Investment in Other Creditor's Rights | ||
| Long-term Receivables | 2,239,471,102.21 | 2,568,442,030.19 |
| Long-term Equity Investment | 473,961,838.51 | 490,731,236.85 |
| Investment in Other Equity Instruments | ||
| Other Non-current Financial Assets | 175,360,489.43 | 67,213,489.43 |
| Investment Property | 331,780,257.25 | 336,181,589.99 |
| Fixed Assets | 1,489,479,407.25 | 1,522,463,368.83 |
| Projects under Construction | 503,309,411.64 | 435,757,406.90 |
| Productive Biological Assets | ||
| Oil and gas assets | ||
| Right-of-use Assets | ||
| Intangible Assets | 417,114,753.52 | 411,758,785.31 |
| Development Expenditure | ||
| Goodwill | 42,685,490.30 | 42,685,490.30 |
| Long-term Prepaid Expenses | 35,743,407.43 | 37,311,198.19 |
| Deferred Income Tax Assets | 695,287,837.37 | 668,058,558.83 |
| Other Non-current Assets | 12,539,889.62 | 8,605,835.50 |
| Subtotal of Non-current Assets | 6,416,733,884.53 | 6,589,208,990.32 |
| Total Assets | 28,388,447,811.63 | 29,564,650,212.93 |
| Current Liabilities: | ||
| Short-term loan | 1,371,771,239.69 | 400,323,888.90 |
| Borrowings from the Central Bank | ||
| Borrowings from Banks and Other Financial Institutions | ||
| Transactional financial liabilities | ||
| Derivative Financial Liabilities | ||
| Notes Payable | 2,365,039,125.39 | 3,807,292,795.07 |
| Accounts Payable | 3,860,913,274.19 | 4,290,253,501.81 |
| Received Prepayments | 375,521,795.82 | |
| Contract liabilities | 549,274,981.56 | |
| Financial Assets Sold for Repurchase | ||
| Deposit Taking and Interbank Deposit | ||
| Receiving from Vicariously Traded Securities | ||
| Receiving from Vicariously Sold Securities | ||
| Payroll payable | 522,636,947.62 | 1,582,368,359.30 |
| Tax Payable | 630,887,874.86 | 813,357,471.37 |
| Other Payables | 1,219,460,913.10 | 1,163,915,713.24 |
| Including: interest payable | ||
| Dividends Payable | 9,411,768.61 | 9,454,479.13 |
| Service Charge and Commission Payable | ||
| Reinsurance Accounts Payable | ||
| Holding for-sale liabilities | ||
| Non-current Liabilities Due within 1 Year | 27,305,494.75 | 26,993,755.57 |
| Other Current Liabilities | 96,074,272.19 | 71,233,107.93 |
| Subtotal of Current Liabilities | 10,643,364,123.35 | 12,531,260,389.01 |
| Non-current Liabilities: | ||
| Insurance Contract Reserves | ||
| Long-term loan | 553,794,444.44 | 153,500,000.00 |
| Bonds Payable | ||
| Including: Preferred Stocks | ||
| Perpetual Bonds | ||
| Lease Liabilities | ||
| Long-term Payables | ||
| Long-term payroll payable | ||
| Expected Liabilities | 315,757,937.26 | 303,670,887.50 |
| Deferred Income | 114,117,081.56 | 117,210,761.34 |
| Deferred Income Tax Liabilities | 50,167,133.57 | 50,565,095.68 |
| Other Non-current Liabilities | 393,622,647.32 | 432,275,367.74 |
| Subtotal of Non-current Liabilities | 1,427,459,244.15 | 1,057,222,112.26 |
| Total Liabilities | 12,070,823,367.50 | 13,588,482,501.27 |
| Shareholders' Equity: | ||
| Share Capital | 3,003,276,130.00 | 3,003,713,230.00 |
| Other Equity Instruments | ||
| Including: Preferred Stocks | ||
| Perpetual Bonds | ||
| Capital Reserves | 1,899,440,201.14 | 1,882,855,119.53 |
| Less: Treasury Share | 1,054,050,061.83 | 1,057,584,258.31 |
| Other Comprehensive Incomes | 22,308,140.82 | 12,308,276.23 |
| Special Reserves | ||
| Surplus Reserves | 1,553,691,005.92 | 1,553,691,005.92 |
| General Risk Reserves | ||
| Undistributed Profits | 10,565,982,836.95 | 10,248,023,654.54 |
| Total Shareholders' Equity Attributable to the Parent Company | 15,990,648,253.00 | 15,643,007,027.91 |
| Minority Shareholders' Equity | 326,976,191.13 | 333,160,683.75 |
| Total Shareholders' Equity | 16,317,624,444.13 | 15,976,167,711.66 |
| Total Liabilities and Shareholders' Equity | 28,388,447,811.63 | 29,564,650,212.93 |
Legal representative: Fu Liquan Chief Financial Officer: Xu Qiaofen
2. Balance Sheet of the Parent Company
Unit: RMB
| Item Name | March 31, 2020 | December 31, 2019 |
| Current Assets: | ||
| Cash and Bank Balances | 803,466,065.55 | 890,598,735.62 |
| Trading Financial Assets | ||
| Derivative Financial Assets | ||
| Notes receivable | ||
| Accounts receivable | 7,269,017,610.91 | 8,450,364,515.05 |
| Receivables Financing | 273,621,431.98 | 841,427,888.19 |
| Prepayments | 27,540,373.92 | 30,501,431.44 |
| Other Receivables | 7,908,311,805.39 | 5,138,830,912.64 |
| Including: interest receivable |
| Dividends Receivable | ||
| Inventory | 163,857,301.86 | 124,904,729.01 |
| Contract Assets | ||
| Holding for-sale assets | ||
| Non-current Assets Due within 1 Year | 54,489,451.65 | 53,952,526.19 |
| Other Current Assets | 805,742.20 | 21,919,487.88 |
| Subtotal of Current Assets | 16,501,109,783.46 | 15,552,500,226.02 |
| Non-current Assets: | ||
| Investment in Creditor's Rights | ||
| Investment in Other Creditor's Rights | ||
| Long-term Receivables | 138,096,819.94 | 137,284,594.67 |
| Long-term Equity Investment | 3,539,511,865.77 | 3,523,259,061.78 |
| Investment in Other Equity Instruments | ||
| Other Non-current Financial Assets | 171,126,387.68 | 62,979,387.68 |
| Investment Property | 181,880,669.44 | 187,756,594.11 |
| Fixed Assets | 527,713,216.59 | 536,909,246.66 |
| Projects under Construction | 261,005,356.54 | 203,836,998.96 |
| Productive Biological Assets | ||
| Oil and gas assets | ||
| Right-of-use Assets | ||
| Intangible Assets | 165,335,683.49 | 168,215,377.39 |
| Development Expenditure | ||
| Goodwill | ||
| Long-term Prepaid Expenses | 25,478,490.74 | 26,687,122.32 |
| Deferred Income Tax Assets | 112,531,729.67 | 131,503,372.44 |
| Other Non-current Assets | 5,204,233.11 | 1,964,757.00 |
| Subtotal of Non-current Assets | 5,127,884,452.97 | 4,980,396,513.01 |
| Total Assets | 21,628,994,236.43 | 20,532,896,739.03 |
| Current Liabilities: | ||
| Short-term loan | 1,142,169,722.20 | 400,323,888.90 |
| Transactional financial liabilities | ||
| Derivative Financial Liabilities |
| Notes Payable | 575,508,713.95 | 302,168,249.70 |
| Accounts Payable | 786,528,858.99 | 948,348,622.52 |
| Received Prepayments | 181,462,746.37 | |
| Contract liabilities | 182,064,707.08 | |
| Payroll payable | 332,010,408.68 | 1,078,396,381.39 |
| Tax Payable | 288,109,649.48 | 460,577,509.52 |
| Other Payables | 1,471,278,097.31 | 1,363,740,346.75 |
| Including: interest payable | ||
| Dividends Payable | 9,411,768.61 | 9,454,479.13 |
| Holding for-sale liabilities | ||
| Non-current Liabilities Due within 1 Year | ||
| Other Current Liabilities | 5,891,311.71 | 5,892,364.82 |
| Subtotal of Current Liabilities | 4,783,561,469.40 | 4,740,910,109.97 |
| Non-current Liabilities: | ||
| Long-term loan | 400,294,444.44 | |
| Bonds Payable | ||
| Including: Preferred Stocks | ||
| Perpetual Bonds | ||
| Lease Liabilities | ||
| Long-term Payables | ||
| Long-term payroll payable | ||
| Expected Liabilities | 10,277,353.95 | 9,735,157.34 |
| Deferred Income | ||
| Deferred Income Tax Liabilities | 2,137,588.48 | 1,297,719.64 |
| Other Non-current Liabilities | 16,088,870.37 | 16,155,036.85 |
| Subtotal of Non-current Liabilities | 428,798,257.24 | 27,187,913.83 |
| Total Liabilities | 5,212,359,726.64 | 4,768,098,023.80 |
| Shareholders' Equity: | ||
| Share Capital | 3,003,276,130.00 | 3,003,713,230.00 |
| Other Equity Instruments | ||
| Including: Preferred Stocks | ||
| Perpetual Bonds | ||
| Capital Reserves | 1,888,914,537.83 | 1,867,489,901.04 |
| Less: Treasury Share | 1,054,050,061.83 | 1,057,584,258.31 |
| Other Comprehensive Incomes | ||
| Special Reserves | ||
| Surplus Reserves | 1,553,691,005.92 | 1,553,691,005.92 |
| Undistributed Profits | 11,024,802,897.87 | 10,397,488,836.58 |
| Total Shareholders' Equity | 16,416,634,509.79 | 15,764,798,715.23 |
| Total Liabilities and Shareholders' Equity | 21,628,994,236.43 | 20,532,896,739.03 |
3. Consolidated Income Statement
Unit: RMB
| Item Name | This Period's Amount of Occurrence | Previous Period's Amount of Occurrence |
| I. Total Operating Revenue | 3,501,562,275.80 | 4,347,918,104.26 |
| Including: Operating Revenue | 3,501,562,275.80 | 4,347,918,104.26 |
| Interest Income | ||
| Earned Premiums | ||
| Service Charge and Commission Income | ||
| II. Total Operating Cost | 3,369,359,569.59 | 4,206,843,222.30 |
| Including: Operating Cost | 1,777,655,306.56 | 2,719,715,306.27 |
| Interest Expenditures | ||
| Service Charge and Commission Expenses | ||
| Surrender Value | ||
| Net Claims Paid | ||
| The Net Amount Withdrawn for Insurance Liability Reserves | ||
| Policyholder Dividend Expense | ||
| Reinsurance Cost | ||
| Taxes and Surcharges | 18,696,287.45 | 23,874,799.92 |
| Sales Expenses | 794,773,576.60 | 655,869,241.60 |
| Administration expenses | 150,490,749.11 | 148,771,651.74 |
| Research and development expense | 582,896,157.53 | 541,327,378.49 |
| Financial Expenses | 44,847,492.34 | 117,284,844.28 |
| Including: interest expenses | 21,544,585.52 | 35,426,066.33 |
| Interest Income | 45,305,751.27 | 39,467,635.58 |
| Add: Other income | 231,668,573.00 | 193,253,518.07 |
| Investment Income (Mark "-" for Loss) | -15,622,723.50 | -9,778,727.73 |
| Including: Investment Income from Affiliates and Joint Ventures | -16,724,727.64 | -782,168.13 |
| Profits from recognition Termination of Financial Assets at Amortized Cost | ||
| Exchange Gains (Mark "-" for Losses) | ||
| Profit of Net Exposure Hedging (Mark "-" for Loss) | ||
| Incomes from changes in fair value (losses marked with "-") | 34,436,817.76 | |
| Credit Impairment Losses (Mark "-" for Loss) | -6,803,561.85 | -43,244,547.78 |
| Asset Impairment Losses (Mark "-" for Loss) | -1,523,740.78 | -1,762,003.77 |
| Asset Disposal Income (Mark "-" for Loss) | ||
| III. Operating Profit (Mark "-" for Loss) | 339,921,253.08 | 313,979,938.51 |
| Add: Non-operating Revenues | 1,936,274.21 | 6,715,442.18 |
| Less: Non-operating Expenses | 6,623,544.62 | 512,570.47 |
| IV. Total Profit (Mark "-" for Total Loss) | 335,233,982.67 | 320,182,810.22 |
| Less: Income Tax Expense | 26,101,996.30 | 14,762,513.41 |
| V. Net Profit (Mark "-" for Net Loss) | 309,131,986.37 | 305,420,296.81 |
| i. Classified by operation continuity | ||
| 1. Net Profit as a Going Concern (Mark "-" for Net Loss) | 309,131,986.37 | 305,420,296.81 |
| 2. Net Profit of Discontinued Operation (Mark "-" for Net Loss) | ||
| ii. Classified by the attribution of ownership | ||
| 1. Net Profit Attributable to the Parent Company's Owner | 317,916,471.89 | 316,343,906.02 |
| 2. Minority Shareholders' Profit and Loss | -8,784,485.52 | -10,923,609.21 |
| VI. Net Amount of Other Comprehensive Incomes after Tax | 9,999,857.49 | 11,199,155.65 |
| Net Amount of Other Comprehensive Incomes after Tax Attributable to the Parent Company's Owner | 9,999,864.59 | 11,199,155.65 |
| (1) Other comprehensive income that cannot be reclassified as P/L | ||
| 1. Re-measure the variation of the defined benefit plan | ||
| 2. Other comprehensive income that cannot be transferred to P/L under the equity method | ||
| 3. Changes in the fair value of investment in other equity instruments | ||
| 4. Changes in the fair value of the credit risk of the enterprise | ||
| 5. Others | ||
| (2) Other comprehensive income that will be reclassified as P/L | 9,999,864.59 | 11,199,155.65 |
| 1. Other comprehensive income that can be transferred to P/L under the equity method | ||
| 2. Changes in the fair value of investment in other creditor's rights | ||
| 3. Financial assets reclassified into other comprehensive income | ||
| 4. Provision for the impairment of credit in other debt investments | ||
| 5. Cash flow hedge reserve | ||
| 6. Converted difference in foreign currency financial statements | 9,999,864.59 | 11,199,155.65 |
| 7. Other | ||
| Net Amount of Other Comprehensive Incomes After Tax Attributable to Minority Shareholders | -7.10 | |
| VII. Total Comprehensive Income | 319,131,843.86 | 316,619,452.46 |
| Total Comprehensive Income Attributable to the Parent Company's Owner | 327,916,336.48 | 327,543,061.67 |
| Total Comprehensive Income Attributable to Minority Shareholders | -8,784,492.62 | -10,923,609.21 |
| VIII. Earnings per Share: | ||
| (I) Basic Earnings per Share | 0.11 | 0.11 |
| (II) Diluted Earnings per Share | 0.11 | 0.11 |
Legal representative: Fu Liquan Chief Financial Officer: Xu Qiaofen
4. Income Statement of the Parent Company
Unit: RMB
| Item Name | This Period's Amount of Occurrence | Previous Period's Amount of Occurrence |
| I. Operating Revenue | 1,534,303,148.70 | 1,160,709,728.28 |
| Less: Operating Cost | 223,891,713.58 | 111,231,656.05 |
| Taxes and Surcharges | 10,768,457.54 | 13,406,573.12 |
| Sales Expenses | 250,468,420.26 | 327,870,861.50 |
| Administration expenses | 75,613,815.40 | 81,251,635.80 |
| Research and development expense | 496,224,547.93 | 456,283,172.66 |
| Financial Expenses | -4,875,931.36 | 15,403,187.19 |
| Including: interest expenses | 14,345,671.26 | 25,906,898.88 |
| Interest Income | 19,875,466.93 | 10,767,232.85 |
| Add: Other income | 204,171,397.15 | 182,806,535.54 |
| Investment Income (Mark "-" for Loss) | -10,851,788.21 | 1,320,536.95 |
| Including: Investment Income from Affiliates and Joint Ventures | -11,978,886.10 | -60,631.89 |
| Profits from Derecognition of Financial Assets at Amortized Cost (Mark "-" for Loss) | ||
| Profit of Net Exposure Hedging (Mark "-" for Loss) | ||
| Incomes from changes in fair value (losses marked with "-") | ||
| Credit Impairment Losses (Mark "-" for Loss) | 6,922,219.15 | 5,848,611.97 |
| Asset Impairment Losses (Mark "-" for Loss) | ||
| Asset Disposal Income (Mark "-" for Loss) | ||
| II. Operating Profit (Mark "-" for Loss) | 682,453,953.44 | 345,238,326.42 |
| Add: Non-operating Revenues | 1,387,746.17 | 1,881,023.83 |
| Less: Non-operating Expenses | 5,434,839.68 | 282,834.14 |
| III. Total Profit (Mark "-" for Total Loss) | 678,406,859.93 | 346,836,516.11 |
| Less: Income Tax Expense | 51,135,509.16 | 8,904,994.35 |
| IV. Net Profit (Mark "-" for Net Loss) | 627,271,350.77 | 337,931,521.76 |
| (I) Net Profit as a Going Concern (Mark "-" for Net Loss) | 627,271,350.77 | 337,931,521.76 |
| (II) Net Profit of Discontinued Operation (Mark "-" for Net Loss) | ||
| V. Net Amount of Other Comprehensive Incomes After Tax | ||
| (1) Other comprehensive income that cannot be reclassified as P/L | ||
| 1. Re-measure the variation of the defined benefit plan | ||
| 2. Other comprehensive income that cannot be transferred to P/L under the equity method | ||
| 3. Changes in the fair value of investment in other equity instruments | ||
| 4. Changes in the fair value of the credit risk of the enterprise | ||
| 5. Others | ||
| (2) Other comprehensive income that will be reclassified as P/L | ||
| 1. Other comprehensive income that can be transferred to P/L under the equity method | ||
| 2. Changes in the fair value of investment in other creditor's rights | ||
| 3. Amount of financial assets reclassified into other comprehensive income |
| 4. Provision for the impairment of credit in other debt investments | ||
| 5. Cash flow hedge reserve | ||
| 6. Converted difference in foreign currency financial statements | ||
| 7. Other | ||
| VI. Total Comprehensive Income | 627,271,350.77 | 337,931,521.76 |
| VII. Earnings per Share: | ||
| (I) Basic Earnings per Share | 0.22 | 0.12 |
| (II) Diluted Earnings per Share | 0.22 | 0.12 |
5. Consolidated Cash Flow Statement
Unit: RMB
| Item Name | This Period's Amount of Occurrence | Previous Period's Amount of Occurrence |
| I. Cash Flow Generated by Operational Activities: | ||
| Cash from Sales of Merchandise and Provision of Services | 6,120,271,238.59 | 5,084,524,142.75 |
| Net Increase in Customer's Bank Deposits and Interbank Deposits | ||
| Net Increase in Borrowings from the Central Bank | ||
| Net Increase in Borrowings from Other Financial Institutions | ||
| Cash Arising from Receiving Premiums for the Original Insurance Contract | ||
| Net Amount Arising from Reinsurance Business | ||
| Net Increase in Deposits and Investments from Policyholders | ||
| Cash Arising from Interests, Service Charges and Commissions | ||
| Net Increase in Borrowings from Banks and Other Financial Institutions | ||
| Net Increase in Repurchase |
| Business Funds | ||
| Net Amount of Cash Received from the Vicariously Traded Securities | ||
| Tax Refund | 740,215,721.64 | 458,798,417.38 |
| Other Received Cashes Related to Operational Activities | 44,949,326.78 | 38,953,212.45 |
| Subtotal of cash inflow from operational activities | 6,905,436,287.01 | 5,582,275,772.58 |
| Cash Paid for Merchandise and Services | 5,017,346,044.66 | 4,827,278,072.02 |
| Net Increase in Loans and Advances to Customers | ||
| Net Increase in Deposits with Central Bank and Other Financial Institutions | ||
| Cash Paid for Original Insurance Contract Claims | ||
| Net increase of funds lent | ||
| Cash Paid for Interests, Service Charges and Commissions | ||
| Cash Paid for Policy Dividends | ||
| Cash Paid to and for Employees | 1,981,075,262.40 | 1,591,249,215.21 |
| Cash Paid for Taxes and Surcharges | 636,310,647.26 | 517,455,490.85 |
| Other Paid Cashes Related to Operational Activities | 461,221,931.66 | 374,780,207.41 |
| Subtotal of cash outflow from operational activities | 8,095,953,885.98 | 7,310,762,985.49 |
| Net cash flow generated by operating activities | -1,190,517,598.97 | -1,728,487,212.91 |
| II. Cash Flow from Investment Activities: | ||
| Cash Arising from Disposal of Investments | 199,900,000.00 | |
| Cash Arising from Investment Incomes | 640,733.53 | 21,168.84 |
| Net Cash Arising from Disposal of Fixed Assets, Intangible Assets and Other Long-term Assets | 219,552.16 | 3,514,007.57 |
| Net Cash Arising from Disposal of |
| Subsidiaries and Other Business Units | ||
| Other Received Cashes Related to Investment Activities | 1,619,946.28 | 2,853,407.03 |
| Subtotal of cash inflow from investment activities | 202,380,231.97 | 6,388,583.44 |
| Cash Paid for Purchase and Construction of Fixed Assets, Intangible Assets and Other Long-term Assets | 127,443,261.33 | 134,928,482.99 |
| Cash Paid for Investments | 308,047,000.00 | 12,200,000.00 |
| Net Increase in Pledge Loans | ||
| Net Cash Paid for Acquisition of Subsidiaries and Other Business Units | ||
| Other Paid Cashes Related to Investment Activities | 70,109,093.75 | 19,920,975.30 |
| Subtotal of cash outflow from investment activities | 505,599,355.08 | 167,049,458.29 |
| Net amount of cash flow generated by investment activities | -303,219,123.11 | -160,660,874.85 |
| III. Cash Flow from Financing Activities: | ||
| Cash Arising from Absorbing Investments | 2,600,000.00 | 15,949,250.00 |
| Including: Cash Arising from Subsidiaries Absorbing Investments by Minority Shareholders | 2,600,000.00 | 15,949,250.00 |
| Cash Arising from Borrowings | 2,503,241,328.07 | 2,694,932,981.06 |
| Other Received Cashes Related to Financing Activities | 241,066,000.00 | 705,446,141.85 |
| Subtotal of cash inflow from financing activities | 2,746,907,328.07 | 3,416,328,372.91 |
| Cash Paid for Debts Repayment | 1,134,342,813.55 | 1,536,335,296.99 |
| Cash Paid for Distribution of Dividends and Profits or Payment of Interests | 13,192,254.16 | 25,649,072.19 |
| Including: Dividends and Profits Paid to Minority Shareholders by Subsidiaries | ||
| Other Paid Cashes Related to Financing Activities | 241,066,000.00 | 741,523,904.02 |
| Subtotal of cash outflow from financing | 1,388,601,067.71 | 2,303,508,273.20 |
| activities | ||
| Net cash flow generated by financing activities | 1,358,306,260.36 | 1,112,820,099.71 |
| IV. Impact of Fluctuation in Exchange Rate on Cash and Cash Equivalents | -21,109,999.08 | -38,821,971.01 |
| V. Net Increase in Cash and Cash Equivalents | -156,540,460.80 | -815,149,959.06 |
| Add: Cash and Cash Equivalents at the Commencement of the Period | 2,734,185,976.41 | 3,702,283,803.54 |
| VI. Cash and Cash Equivalents at the End of the Period | 2,577,645,515.61 | 2,887,133,844.48 |
6. Cash Flow Statement of the Parent Company
Unit: RMB
| Item Name | This Period's Amount of Occurrence | Previous Period's Amount of Occurrence |
| I. Cash Flow Generated by Operational Activities: | ||
| Cash from Sales of Merchandise and Provision of Services | 3,415,807,937.69 | 1,237,857,022.90 |
| Tax Refund | 241,436,506.43 | 178,394,009.37 |
| Other Received Cashes Related to Operational Activities | 16,282,249.26 | 11,635,775.73 |
| Subtotal of cash inflow from operational activities | 3,673,526,693.38 | 1,427,886,808.00 |
| Cash Paid for Merchandise and Services | 43,425,201.12 | 238,102,377.98 |
| Cash Paid to and for Employees | 1,276,096,836.81 | 1,085,112,295.39 |
| Cash Paid for Taxes and Surcharges | 398,845,113.34 | 296,316,540.83 |
| Other Paid Cashes Related to Operational Activities | 256,763,641.58 | 224,380,235.96 |
| Subtotal of cash outflow from operational activities | 1,975,130,792.85 | 1,843,911,450.16 |
| Net cash flow generated by operating activities | 1,698,395,900.53 | -416,024,642.16 |
| II. Cash Flow from Investment Activities: | ||
| Cash Arising from Disposal of Investments | 199,900,000.00 |
| Cash Arising from Investment Incomes | 640,733.53 | 21,168.84 |
| Net Cash Arising from Disposal of Fixed Assets, Intangible Assets and Other Long-term Assets | 7,434,630.94 | 11,510,391.55 |
| Net Cash Arising from Disposal of Subsidiaries and Other Business Units | ||
| Other Received Cashes Related to Investment Activities | 1,601,946.28 | 8,041,013.16 |
| Subtotal of cash inflow from investment activities | 209,577,310.75 | 19,572,573.55 |
| Cash Paid for Purchase and Construction of Fixed Assets, Intangible Assets and Other Long-term Assets | 75,087,633.55 | 57,245,412.46 |
| Cash Paid for Investments | 325,407,000.00 | 89,195,750.00 |
| Net Cash Paid for Acquisition of Subsidiaries and Other Business Units | ||
| Other Paid Cashes Related to Investment Activities | ||
| Subtotal of cash outflow from investment activities | 400,494,633.55 | 146,441,162.46 |
| Net amount of cash flow generated by investment activities | -190,917,322.80 | -126,868,588.91 |
| III. Cash Flow from Financing Activities: | ||
| Cash Arising from Absorbing Investments | ||
| Cash Arising from Borrowings | 1,739,800,000.00 | 1,213,811,815.43 |
| Other Received Cashes Related to Financing Activities | 811,534,932.34 | 360,369,553.55 |
| Subtotal of cash inflow from financing activities | 2,551,334,932.34 | 1,574,181,368.98 |
| Cash Paid for Debts Repayment | 599,800,000.00 | 546,970,000.00 |
| Cash Paid for Distribution of Dividends and Profits or Payment of Interests | 8,418,694.92 | 16,701,289.76 |
| Other Paid Cashes Related to Financing Activities | 3,537,474,262.85 | 928,248,678.61 |
| Subtotal of cash outflow from financing | 4,145,692,957.77 | 1,491,919,968.37 |
| activities | ||
| Net cash flow generated by financing activities | -1,594,358,025.43 | 82,261,400.61 |
| IV. Impact of Fluctuation in Exchange Rate on Cash and Cash Equivalents | 1,932.87 | -155,662.94 |
| V. Net Increase in Cash and Cash Equivalents | -86,877,514.83 | -460,787,493.40 |
| Add: Cash and Cash Equivalents at the Commencement of the Period | 860,741,299.14 | 603,430,209.42 |
| VI. Cash and Cash Equivalents at the End of the Period | 773,863,784.31 | 142,642,716.02 |
II. Adjustments to the Financial Statements
1. The adjustments to financial statements for the beginning of the year due to the firstimplementation of the new revenue recognition standard and the new lease accounting standard in2020
√ Applicable □ Not applicable
Consolidated Balance Sheet
Unit: RMB
| Item Name | December 31, 2019 | January 1, 2020 | Adjusted amount |
| Current Assets: | |||
| Cash and Bank Balances | 3,084,428,970.43 | 3,084,428,970.43 | |
| Accounts receivable | 13,241,196,380.65 | 13,240,269,418.22 | -926,962.43 |
| Receivables Financing | 1,086,017,357.90 | 1,086,017,357.90 | |
| Prepayments | 128,182,099.47 | 143,212,500.49 | 15,030,401.02 |
| Other Receivables | 408,776,610.17 | 408,776,610.17 | |
| Inventory | 3,839,810,704.33 | 3,839,810,704.33 | |
| Contract Assets | 926,962.43 | 926,962.43 | |
| Non-current Assets Due within 1 Year | 630,717,329.58 | 630,717,329.58 | |
| Other Current Assets | 556,311,770.08 | 569,164,987.09 | 12,853,217.01 |
| Subtotal of Current Assets | 22,975,441,222.61 | 23,003,324,840.64 | 27,883,618.03 |
| Non-current Assets: | |||
| Long-term Receivables | 2,568,442,030.19 | 2,568,442,030.19 | |
| Long-term Equity Investment | 490,731,236.85 | 490,731,236.85 |
| Other Non-current Financial Assets | 67,213,489.43 | 67,213,489.43 | |
| Investment Property | 336,181,589.99 | 336,181,589.99 | |
| Fixed Assets | 1,522,463,368.83 | 1,522,463,368.83 | |
| Projects under Construction | 435,757,406.90 | 435,757,406.90 | |
| Intangible Assets | 411,758,785.31 | 411,758,785.31 | |
| Goodwill | 42,685,490.30 | 42,685,490.30 | |
| Long-term Prepaid Expenses | 37,311,198.19 | 37,311,198.19 | |
| Deferred Income Tax Assets | 668,058,558.83 | 668,058,558.83 | |
| Other Non-current Assets | 8,605,835.50 | 8,605,835.50 | |
| Subtotal of Non-current Assets | 6,589,208,990.32 | 6,589,208,990.32 | |
| Total Assets | 29,564,650,212.93 | 29,592,533,830.96 | 27,883,618.03 |
| Current Liabilities: | |||
| Short-term loan | 400,323,888.90 | 400,323,888.90 | |
| Notes Payable | 3,807,292,795.07 | 3,807,292,795.07 | |
| Accounts Payable | 4,290,253,501.81 | 4,290,253,501.81 | |
| Received Prepayments | 375,521,795.82 | -375,521,795.82 | |
| Contract liabilities | 334,045,746.26 | 334,045,746.26 | |
| Payroll payable | 1,582,368,359.30 | 1,582,368,359.30 | |
| Tax Payable | 813,357,471.37 | 869,863,921.95 | 56,506,450.58 |
| Other Payables | 1,163,915,713.24 | 1,163,915,713.24 | |
| Dividends Payable | 9,454,479.13 | 9,454,479.13 | |
| Non-current Liabilities Due within 1 Year | 26,993,755.57 | 26,993,755.57 | |
| Other Current Liabilities | 71,233,107.93 | 71,233,107.93 | |
| Subtotal of Current Liabilities | 12,531,260,389.01 | 12,546,290,790.03 | 15,030,401.02 |
| Non-current Liabilities: | |||
| Long-term loan | 153,500,000.00 | 153,500,000.00 | |
| Expected Liabilities | 303,670,887.50 | 316,524,104.51 | 12,853,217.01 |
| Deferred Income | 117,210,761.34 | 117,210,761.34 | |
| Deferred Income Tax | 50,565,095.68 | 50,565,095.68 |
| Liabilities | |||
| Other Non-current Liabilities | 432,275,367.74 | 432,275,367.74 | |
| Subtotal of Non-current Liabilities | 1,057,222,112.26 | 1,070,075,329.27 | 12,853,217.01 |
| Total Liabilities | 13,588,482,501.27 | 13,616,366,119.30 | 27,883,618.03 |
| Shareholders' Equity: | |||
| Share Capital | 3,003,713,230.00 | 3,003,713,230.00 | |
| Capital Reserves | 1,882,855,119.53 | 1,882,855,119.53 | |
| Less: Treasury Share | 1,057,584,258.31 | 1,057,584,258.31 | |
| Other Comprehensive Incomes | 12,308,276.23 | 12,308,276.23 | |
| Surplus Reserves | 1,553,691,005.92 | 1,553,691,005.92 | |
| Undistributed Profits | 10,248,023,654.54 | 10,248,023,654.54 | |
| Total Shareholders' Equity Attributable to the Parent Company | 15,643,007,027.91 | 15,643,007,027.91 | |
| Minority Shareholders' Equity | 333,160,683.75 | 333,160,683.75 | |
| Total Shareholders' Equity | 15,976,167,711.66 | 15,976,167,711.66 | |
| Total Liabilities and Shareholders' Equity | 29,564,650,212.93 | 29,592,533,830.96 | 27,883,618.03 |
Adjustment explanationBalance Sheet of the Parent Company
Unit: RMB
| Item Name | December 31, 2019 | January 1, 2020 | Adjusted amount |
| Current Assets: | |||
| Cash and Bank Balances | 890,598,735.62 | 890,598,735.62 | |
| Accounts receivable | 8,450,364,515.05 | 8,450,364,515.05 | |
| Receivables Financing | 841,427,888.19 | 841,427,888.19 | |
| Prepayments | 30,501,431.44 | 30,501,431.44 | |
| Other Receivables | 5,138,830,912.64 | 5,138,830,912.64 | |
| Inventory | 124,904,729.01 | 124,904,729.01 | |
| Non-current Assets Due within 1 Year | 53,952,526.19 | 53,952,526.19 | |
| Other Current Assets | 21,919,487.88 | 21,919,487.88 |
| Subtotal of Current Assets | 15,552,500,226.02 | 15,552,500,226.02 | |
| Non-current Assets: | |||
| Long-term Receivables | 137,284,594.67 | 137,284,594.67 | |
| Long-term Equity Investment | 3,523,259,061.78 | 3,523,259,061.78 | |
| Other Non-current Financial Assets | 62,979,387.68 | 62,979,387.68 | |
| Investment Property | 187,756,594.11 | 187,756,594.11 | |
| Fixed Assets | 536,909,246.66 | 536,909,246.66 | |
| Projects under Construction | 203,836,998.96 | 203,836,998.96 | |
| Intangible Assets | 168,215,377.39 | 168,215,377.39 | |
| Long-term Prepaid Expenses | 26,687,122.32 | 26,687,122.32 | |
| Deferred Income Tax Assets | 131,503,372.44 | 131,503,372.44 | |
| Other Non-current Assets | 1,964,757.00 | 1,964,757.00 | |
| Subtotal of Non-current Assets | 4,980,396,513.01 | 4,980,396,513.01 | |
| Total Assets | 20,532,896,739.03 | 20,532,896,739.03 | |
| Current Liabilities: | |||
| Short-term loan | 400,323,888.90 | 400,323,888.90 | |
| Notes Payable | 302,168,249.70 | 302,168,249.70 | |
| Accounts Payable | 948,348,622.52 | 948,348,622.52 | |
| Received Prepayments | 181,462,746.37 | -181,462,746.37 | |
| Contract liabilities | 160,586,501.21 | 160,586,501.21 | |
| Payroll payable | 1,078,396,381.39 | 1,078,396,381.39 | |
| Tax Payable | 460,577,509.52 | 481,453,754.68 | 20,876,245.16 |
| Other Payables | 1,363,740,346.75 | 1,363,740,346.75 | |
| Dividends Payable | 9,454,479.13 | 9,454,479.13 | |
| Other Current Liabilities | 5,892,364.82 | 5,892,364.82 | |
| Subtotal of Current Liabilities | 4,740,910,109.97 | 4,740,910,109.97 | |
| Non-current Liabilities: | |||
| Expected Liabilities | 9,735,157.34 | 9,735,157.34 | |
| Deferred Income Tax | 1,297,719.64 | 1,297,719.64 |
| Liabilities | |||
| Other Non-current Liabilities | 16,155,036.85 | 16,155,036.85 | |
| Subtotal of Non-current Liabilities | 27,187,913.83 | 27,187,913.83 | |
| Total Liabilities | 4,768,098,023.80 | 4,768,098,023.80 | |
| Shareholders' Equity: | |||
| Share Capital | 3,003,713,230.00 | 3,003,713,230.00 | |
| Capital Reserves | 1,867,489,901.04 | 1,867,489,901.04 | |
| Less: Treasury Share | 1,057,584,258.31 | 1,057,584,258.31 | |
| Surplus Reserves | 1,553,691,005.92 | 1,553,691,005.92 | |
| Undistributed Profits | 10,397,488,836.58 | 10,397,488,836.58 | |
| Total Shareholders' Equity | 15,764,798,715.23 | 15,764,798,715.23 | |
| Total Liabilities and Shareholders' Equity | 20,532,896,739.03 | 20,532,896,739.03 |
2. Explanation of compared data before and after the adjustment according to the first implementationof the new revenue recognition standard and the new lease accounting standard in 2020
□ Applicable √ Not applicable
III. Audit ReportWhether the Q1 Report is audited
□ Yes √ No
The Q1 Report of the Company is not audited.
Zhejiang Dahua Technology Co., Ltd.
Chairman: Fu Liquan
April 28, 2020