Zhejiang Dahua Technology Co., Ltd.
2021 Q1 Report
April, 2021
Section I Important NoticeThe Board of Directors, the Board of Supervisors, directors,supervisors and senior management members of the Company herebyguarantee that the information presented in this quarterly report isauthentic, accurate, complete and free of any false records, misleadingstatements or material omissions, and they will bear joint and severalliability for such information.
All the directors attended the meeting of the Board of Directors forthe deliberation of this quarterly report.
Fu Liquan, the Company's legal representative, Xu Qiaofen, chiefaccountant, and Zhu Zhuling, person in charge of accounting institution(Accounting Officer) hereby declare and warrant that the financialstatements in the quarterly report 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) | 5,114,399,101.72 | 3,501,562,275.80 | 46.06% |
Net Profit Attributable to Shareholders of the Listed Company (RMB) | 347,573,484.46 | 317,916,471.89 | 9.33% |
Net Profit Attributable to Shareholders of the Listed Company after Deducting Non-recurring Gains and Losses (RMB) | 311,445,134.94 | 300,408,224.85 | 3.67% |
Net Cash Flow Generated by Operational Activities (RMB) | -1,327,570,256.40 | -1,190,517,598.97 | -11.51% |
Basic Earnings per Share (RMB/Share) | 0.12 | 0.11 | 9.09% |
Diluted Earnings per Share (RMB/Share) | 0.12 | 0.11 | 9.09% |
Weighted Average ROE | 1.74% | 2.01% | -0.27% |
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) | 37,793,288,583.82 | 36,595,034,080.75 | 3.27% |
Net assets attributable to shareholders of the listed company (RMB) | 20,730,157,335.50 | 19,773,030,426.40 | 4.84% |
Note: The investment income of current period is decreased by RMB 59 million compared with the same period ofprevious year, a year-on-year decrease of 377.53%, mainly due to confirmed loss of RMB 98 million investment inLeapmotor, an associate.Non-recurring Gains and Losses Items and Their Amounts
√ Applicable □ Not applicable
Unit: RMB
Item | The Amount from the | Note |
Beginning of the Year to the End of the Current Reporting Period | ||
Profits or Losses from Disposal of Non-current Assets (Including the Write-off for the Accrued Impairment of Assets) | 483,524.47 | |
The Government Subsidies Included in the Current Profits and Losses (Excluding the Government Subsidies Closely Related to Regular Businesses of the Company And Issued in the Quota or Quantity Based on the National Standards) | 20,323,912.52 | |
Gains or Losses From Investment or Asset Management Entrusted to Others | -2,913,829.24 | |
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 | 27,365,451.74 | |
Non-operating Revenue and Expenses Other than the above | 1,484,792.89 | |
Other Gains and Losses Items that Fit the Definition of Non-Recurring Gains and Losses | 169,645.79 | |
Less: Impact of Income Tax | 7,098,388.91 | |
Impact of Minority Equity (After Tax) | 3,686,759.74 | |
Total | 36,128,349.52 | -- |
For items defined as non-recurring gains and losses according to the No. 1 Explanatory Announcement on InformationDisclosure for Companies Offering Their Securities to Public - Non-recurring Gains and Losses, or non-recurring gainsand losses items listed in the said 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 Explanatory Announcement on Information Disclosure for Companies Offering Their Securities to Public - Non-recurringGains and Losses, as recurring gains and losses items.
II. The Total Number of Shareholder and the Holdings of the Top 10 Shareholders atthe End of the Current Reporting Period
1. The total number of common shareholders, the number of preferred shareholders withrestored voting rights and shareholding status of the top 10 shareholders
Unit: share
Total Number of Common Shareholders at The End of The Reporting Period | 143,572 | 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 | Pledge or Freezing | |
State of Shares | Number | |||||
Fu Liquan | Domestic Natural Person | 34.18% | 1,023,868,980 | 767,901,735 | Pledge | 257,587,942 |
Zhu Jiangming | Domestic Natural Person | 5.36% | 160,577,490 | 120,433,117 | Pledge | 37,000,000 |
Shanghai Perseverance Asset Management (Limited Partnership) - Gaoyi Linshan No.1 Yuanwang Fund | Others | 3.84% | 115,000,000 | 0 | ||
Hong Kong Securities Clearing Co. Ltd. | Overseas Legal Person | 3.81% | 114,260,034 | 0 | ||
Chen Ailing | Domestic Natural Person | 2.38% | 71,262,813 | 53,447,110 | Pledge | 21,100,000 |
Wu Jun | Domestic Natural Person | 2.31% | 69,250,886 | 51,938,164 | ||
China Galaxy Securities Co., | State-owned Legal Person | 1.61% | 48,262,726 | 0 |
Ltd. | ||||||
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 | 0.95% | 28,361,893 | 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 | 255,967,245 | RMB common stock | 255,967,245 | |||
Shanghai Perseverance Asset Management (Limited Partnership) - Gaoyi Linshan No.1 Yuanwang Fund | 115,000,000 | RMB common stock | 115,000,000 | |||
Hong Kong Securities Clearing Co. Ltd. | 114,260,034 | RMB common stock | 114,260,034 | |||
China Galaxy Securities Co., Ltd. | 48,262,726 | RMB common stock | 48,262,726 | |||
Zhu Jiangming | 40,144,373 | RMB common stock | 40,144,373 | |||
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 | 28,361,893 | RMB common stock | 28,361,893 | |||
Agricultural Bank of China Co., Ltd.- Shanghai Investment Morgan Emerging Power Hybrid | 18,691,142 | RMB common stock | 18,691,142 |
Securities Investment Fund | |||
Chen Ailing | 17,815,703 | RMB common stock | 17,815,703 |
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 onany repurchase transaction in the reporting period
□ Yes √ No
None of the Company's top ten common shareholders or top ten common shareholders without limited shares agreed onrepurchase in the reporting period.
2. The total number of the preferred shareholders and the shareholdings of the top 10 preferredshareholders
□ Applicable √ Not applicable
Section III Significant Events
I. The Changes in Major Financial Data and Financial Indicators in the CurrentReporting Period and the Reasons
√ Applicable □ Not applicable
i. The changes of assets and liabilities and the reasons
1. Trading Financial Assets increased by 20374.31% compared with end of the previous year, mainly due to newlyincreased structured deposits in this period.
2. Long-term Equity Investment increased by 90.50% compared with end of the previous year, mainly due to the change inShareholders' Equity of company's associates in the current period, and the company confirmed the corresponding shareaccording to the shareholding ratio;
3. Other Non-current Financial Assets increased by 140.57% compared with end of the previous year, mainly due toinvestment of RMB 500 million in new asset management plan in this period;
4. The right-of-use Assets increased by 100% compared with end of the previous year, mainly due to the implementationof the new lease standards and related statement adjustment in this period.
5. Intangible assets increased by 46.08% compared with end of the previous year, mainly due to the newly purchasedland in this period.
6. Short-term loan increased by 392.23% compared with end of the previous year, mainly due to the increase of bank loanin this period;
7. Transaction financial liabilities increased by 100% compared with end of the previous year, mainly due to changes inthe fair value of foreign currency exchange contracts in this period;
8. The salary payable to employees decreased by 64.09% compared with end of the previous year, mainly due to theissuance of year-end bonus in this period;
9. Non-current liabilities due within one year increased by 50.83% compared with end of the previous year, mainly due tothe implementation of the new lease standards and reclassification of lease liabilities due within one year in this period;
10. Other Current Liabilities increased by 35.83% compared with end of the previous year, mainly due to the increase inthe bills to be unrecognized compared in this period;
11. Long-term Loan increased by 56.95% compared with end of the previous year, mainly due to the increase of long-termbank loan in this period;
12. Lease Liabilities increased by 100% compared with end of the previous year, mainly due to implementation of the newlease standards and related adjustments in this period;
13. The Capital Reserves increased by 30.03% compared with end of the previous year, mainly due to confirmed increaseof the changes in other rights and interests of associates in this period;(II) The changes of items in the income statement and the reasons
1. Operating income increased by 46.06% compared with same period of previous year, mainly due to expansion of thecompany's sales scale;
2. Operating Costs increased by 70.02% compared with same period of the previous year, mainly due to the costincreases as the revenue grows;
3. Taxes and Surcharges increased by 142.08% compared with same period of previous year, mainly due to the increaseof turnover tax payable in this period;
4. Financial Expenses decreased by 41.67% compared with same period of previous year, mainly due to the increase in
interest income in this period;
5. Other Income decreased by 30.94% compared with same period of the previous year, mainly due to the decrease invalue-added tax refund;
6. Investment Income decreased by 377.53% compared with same period of the previous year, mainly due to confirmedinvestment losses of associates in this period;
7. The gains and losses from changes in fair value increased by 100% compared with same period of the previous year,mainly due to the increase of fair value changes in Other Non-current Financial Assets;
8. Credit Impairment Losses increased by 185.89% compared with same period of the previous year, mainly due to theincrease of the provisions for bad debts accrued in this period;
9. Asset Impairment Losses increased by 212.70% compared with same period of the previous year, mainly due to theincrease of inventory depreciation provisions made during the current period;
10. Non-operating Revenues increased by 56.93% compared with the same period of previous year, mainly due to theincrease of contract liquidated damages received in this period;
11. Non-operating Expenses decreased by 71.87% compared with same period of previous year, mainly due to thedecrease of donation in this period;
12. Income Tax Expenses increased by 119.29% over the same period of the previous year, mainly due to the increase oftaxable income in this period;(III) The changes of items in the cash flow statement and the reasons
1. The net amount of cash flow generated by investment activities decreased by 320.94% compared with same period ofthe previous year, mainly due to the increase of entrusted financial management investment in this period.II. Progress of Significant Events and the Analysis of Its Influence and Solutions
√ Applicable □ Not applicable
1. On January 8, 2021, the eighth meeting of the seventh Board of Directors of the company reviewed and approved the"Proposal on Joint Capital Increase and Related Party Transactions with Related Parties", and agreed that the companyand related parties Zhang Xingming, He Chao, Ningbo Huaqi Investment Management Partnership (Limited Partnership),Hangzhou Kangpi Enterprise Management Partnership (Limited Partnership) and non-related party Yao Weizhong to signthe "Agreement on Equity Transfer and Capital Increase of Zhejiang Healnoc Technology Co., Ltd.". The company andrelated parties Zhang Xingming, He Chao, Ningbo Huaqi Investment Management Partnership (Limited Partnership),Hangzhou Kangpi Enterprise Management Partnership (Limited Partnership) and unrelated party Yao Weizhongcontributed RMB 50 million in total to Zhejiang Healnoc Technology Co., Ltd. (referred to as " Healnoc") as capitalincrease. In which, the company invested RMB 20 million of its own funds, holding 20% of Healnoc equity, and Healnocbecame a shareholding company. The procedures for industrial and commercial change of the above matters have beencompleted in February 2021.
2. On January 8, 2021, the eighth meeting of company seventh Board of Directors reviewed and approved "Proposal onGiving up Shareholding Company Equity Increase in Capital and Related Party Transactions". Zhu Jiangming, Gao Dong,Chen Jinxia, Ningbo Hualing Investment management partnership( limited partnership), total of 14 investors made a B-1round of capital increase in Leapmotor Technology. The related transaction amount of company giving up the right toincrease capital in the same proportion was RMB 458,459 million. The procedures for the industrial and commercialchange of the above matters have been completed in January 2021.
3. On January 27, 2021, the ninth meeting of the seventh Board of Directors the company reviewed and approved"Proposal on Giving up the Shareholding Company Equity Increase in Capital and Related Party Transactions". A total of10 investors, including Zhejiang Mituo Investment Co., Ltd., Gao Dong, Huzhou Heninghai Investment Partnership
(Limited Partnership), intended to make a B-2 round of capital increase in Leapmotor. The amount of related partytransactions involved in the company's abandonment of the right to increase capital in the same proportion was RMB166,835.46 million. The procedures for the industrial and commercial change of the above matters have been completedin January 2021.
4. On March 26, 2021, the twelfth meeting of the seventh Board of Directors of the company and the eighth meeting of thecompany seventh Board of Supervision, reviewed and approved "Proposal on Processing Scheme of Non-publicIssuance of Shares of Year 2021", "Proposal on Plan of Non-public Issuance of Shares of Year 2021" "Proposal onSigning of agreement( Subscription Agreement for Non-public Issuance of Shares with Effective Conditions) betweencompany and the subscriber", "Proposal on Company Introducing Strategic Investors and Signing of Agreement (StrategicCooperation Agreement with Effective Conditions)", "Proposal on Company Non-public Issuance of Shares Related PartyTransactions" and so on. The company planned to issue 312,151,600 non-public shares, and the total amount of fundsraised did not exceed RMB 5.6 billion (including RMB 5.6 billion). The target company of this non-public issuance is ChinaMobile Capital Holdings Co., Ltd., which is the wholly-owned subsidiary of China Mobile Communications Group Co.,Ltd.,.
5. On April 1, 2021, the thirteenth meeting of the seventh Board of Directors and the ninth meeting of hte seventh Board ofSupervisors of the company, reviewed and approved the "Proposal of restricted share incentive plan for the second unlockperiod of the first grant and reserving the achievement for the first unlock of Year 2018 " It approved to unlock 29,431,520restricted shares held by 2,889 incentive targets who met the share unlock conditions. The matter was completed on April15, 2021.
6. On April 1, 2021, the thirteenth meeting of the seventh Board of Directors of the company and the ninth meeting of theseventh Board of Supervisors of the company reviewed and approved the "Proposal on Repurchase and Cancellation ofPart of Restricted Share (granted but not yet unlocked)". It approved to repurchase 1,028,860 restricted shares that havebeen granted but not yet unlocked, held by 65 ex-employees , including 882,360 shares of first time granted at repurchaseprice of RMB 8.17 per share and 146,500 reserved shares at a purchase price of RMB 8.75 per share. The aforesaidrepurchase and cancellation matters need to be submitted to the General Meeting of shareholders for approval.
Overview of the Significant Events | Date of Disclosure | Indexes for the Inquiry of Websites Disclosing the Provisional Reports |
Related party transactions over capital increase in Healnoc with related parties | January 9, 2021 | Juchao Information Website http://www.cninfo.com.cn/ |
Related matters on giving up the right to increase capital in the same proportion of Leapmotor, a shareholding company | January 9, 2021 | Juchao Information Website http://www.cninfo.com.cn/ |
Related matters on giving up the right to increase capital in the same proportion of Leapmotor, a shareholding company | January 28, 2021 | Juchao Information Website http://www.cninfo.com.cn/ |
Details of company non-public issuance of shares in Year 2021 | March 27, 2021 | Juchao Information Website http://www.cninfo.com.cn/ |
Matters concerning the conditions for the first granting of the second unlock period and reserved granting of the first unlock period in 2018 Restricted Stock Incentive Plan | April 02, 2021 | Juchao Information Website http://www.cninfo.com.cn/ |
Details of repurchase and cancellation of restricted shares that have been granted but not yet unlocked | April 02, 2021 | Juchao Information Website http://www.cninfo.com.cn/ |
The progress on share repurchase
□ Applicable √ Not applicable
The progress on reduction of re-purchase shares by means of centralized competitive bidding
□ Applicable √ Not applicable
III. Commitments made by the Company's actual controllers, shareholders, relatedparties, purchasers and purchasing companies having not been fulfilled during thereporting period
□ Applicable √ Not applicable
During this reporting period, there is no commitment made by the Company's actual controllers, shareholders, relatedparties, purchasers and purchasing companies having not been fulfilled during the reporting period.IV. Financial assets investment
1. Securities investment
□ Applicable √ Not applicable
No such case as securities investment during the reporting period.
2. Derivatives investment
√ Applicable □ Not applicable
Unit: ten thousand RMB
Name of Derivatives Investment Operator | Relation with Related Party | Whether It Is A Related Transaction | Types of Derivatives Investment | Initial Amount of Derivatives Investment | Starting Date | Termination Date | Initial Investment Amount | Amount Purchased during the Reporting Period | Amount Sold during the Reporting Period | Amount of Provision for Impairment Accrued (if any) | Investment Amount at the End of the Period | Proportion of Investment Amount in the Company’s Net Assets at End of the Reporting Period | Actual Profit and Loss during the Reporting Period |
Bank | No relations | No | Structured deposits | 50,000 | January 26, 2021 | June 30, 2021 | 50,000 | 50,000 | 2.41% | 350.68 | |||
Bank | No relations | No | Foreign exchange contract | November 27, 2020 | March 31, 2022 | 40,904.41 | 299,051.09 | 215,601.24 | 124,354.26 | 6.00% | 1,202.53 | ||
Total | 50,000 | -- | -- | 40,904.41 | 349,051.09 | 215,601.24 | 174,354.26 | 8.41% | 1,553.21 | ||||
Sources of funds for derivatives investment | Equity Fund | ||||||||||||
Litigation involved (if applicable) | N/A | ||||||||||||
Disclosure date of board of directors' | April 3, 2020 |
announcement on the approval of derivatives investment (if any) | |
Disclosure date of shareholder meeting's announcement on the approval of derivatives investment (if any) | May 13, 2020 |
Risk analysis and description of control measures for derivatives positions during the reporting period (including but not limited to market risk, liquidity risk, credit risk, operational risk, legal risk, etc.) | For details of risk analysis and control measures, please refer to the "Announcement on the Use of Own Funds to Purchase Bank Wealth Management Products" (Announcement No. 2020-025) and "Announcement on Carrying out Foreign Exchange Hedging Transactions" (Announcement No. 2020-022), which were disclosed on April 3, 2020. |
Changes in market prices or product fair value of invested derivatives during the reporting period, and the analysis of the fair value of derivatives should disclose the specific methods used and the setting of related assumptions and parameters. | For the structured deposits signed between the company and bank during the reporting period, the profit and loss of fair value shall be determined according to the association between interest rate and the foreign exchange options. The difference between the forward foreign exchange settlement contract quotation and the forward foreign exchange price determined the transactional financial assets or transactional financial liabilities. |
Explanation of whether the Company’s derivatives accounting policies and specific accounting principles have changed significantly during the reporting period compared with the previous reporting period | No |
Independent directors' special opinions on the Company's derivatives investment and risk control | For details, please refer to the "Independent Opinions of Independent Directors on Related Matters" disclosed by the company on April 3, 2020. |
V. Progress of investment projects with raised funds
□ Applicable √ Not applicable
VI. Estimated operating performance from January to June, 2021Warning and explanation of the prediction that the cumulative net profit from the beginning of the year to the end of thenext reporting period may be a loss or a significant change compared the same period of last year
□ Applicable √ Not applicable
VII. Major contracts in daily operations
□ Applicable √ Not applicable
VIII. Entrusted Financing
√ Applicable □ Not applicable
Unit: ten thousand RMB
Specific Type | Funding Source | Entrusted Amount | Unexpired Balance | Overdue Outstanding Amount |
Bank financial products | Equity Fund | 50,000 | 50,000 | 0 |
Financial products of securities companies | Equity Fund | 50,000 | 50,000 | 0 |
Total | 100,000 | 100,000 | 0 |
Specific matters on high-risk entrusted capital management with a large amount for a single item, or with low security,poor liquidity and no capital preservation guarantee.
√ Applicable □ Not applicable
Unit: ten thousand RMB
Name of Trustee Organization (or Name of Trustee) | Trustee Organization (or Trustee) Type | Product Type | Amount | Capital Source | Starting Date | Termination Date | Investment Direction | Payment Determination Method | Reference for Annualized Rate of Return | Expected Earnings (If Any) | Actual Profit and Loss during the Reporting Period | Actual Recovery of Profits and Losses during the Reporting Period | Amount of Provision for Impairment Accrued (if any) | Whether it Passed the Legal Procedures | Whether there Will be Entrusted Financial Plan in the Future | Item Overview and Related Query Index (if any) |
Guosen Securities co., Ltd. | Securities company | Asset Management Plan | 50,000 | Equity Fund | February 10, 2021 | February 9, 2031 | Private equity fund products, fixed income assets, equity assets, public equity hybrid funds | Payment of principal and income at maturity | -642.07 | Unexpired | Yes | No | ||||
Total | 50,000 | -- | -- | -- | -- | -- | -- | -642.07 | -- | -- | -- | -- |
Cases of entrusted financing expected to be unable to recover the principal or cases that may result in impairment
□ Applicable √ Not applicable
IX. Illegal external guarantees
□ Applicable √ Not applicable
No illegal external guarantees during the reporting period.
X. Non-operational capital occupation over listed companies by controllingshareholders and their related parties
□ Applicable √ Not applicable
During the reporting period, there is no non-operational capital occupation over listed companies by controllingshareholders and their related parties.XI. Registration form for reception of research, communication, interviews, and otheractivities during the reporting period
√ Applicable □ Not applicable
Reception Time | Reception Location | Reception Method | Reception Target Type | Reception Objects | Main Content of the Discussion and the Information Provided | Index of the Basic Information of Research |
January 29, 2021 | Company meeting room | Combination of field research and telephone communication | Institution | Destination Partners Limited, Frankline Templeton, Inforesight, (China Insight, Fund in CRM), LSQ SPAC Fund, Panjing, Harbourview Investment Fund, Point72, UBS, Essence Securities, Essence Fund, Power Pacific, Bingshen Investment, Bosera Fund , Caitong Fund, Caitong Asset Management, Ivy Capital, Chengshi Assets, All Fund, Morgan Stanley Huaxin fund, Danyi Investment, Springs Capital, Dehui Group, Northeast Securities, Dongfang Self-operated, Soochow Securities, East Securities Asset Management , Dunhe Asset Management, Fengling Capital, Fuanda Fund, Fidelity, Fullgoal fund, Gaoyi, Green Fund, Golden Eagle Fund, Golden Eagle, Invesco Great Wall, Jiutai Fund, Juming Investment, Junze Investment, Kendall Square Capital, Legend Investment, Neuberger Berman Fund, Minsheng Royal Fund, China Southern Fund, Ningbo Bank Wealth Management, Ningquan Assets, ABC-CA, Lion Fund, Ping An Assets, Peifeng Assets, Penghua Fund, Ping An Asset Management, Foresea Life Insurance, Headwater Investment, Ren Bridge Asset Management, Rongtong Fund, Foresight Fund, Xiamen Pearl Investment, Shanghai Chengtou Investment, Shanghai Daoren Assets, CIFM Asset Management, SWS Mu fund, Tenbagger Capital, Suzhou Junrong Asset Management Co., Ltd. , CPIC, BOC International (China) Co.,Ltd, Bank of China Investment Management, China Post, China Re Assets, Rosefinch Fund, Zige Investment, CITIC Securities, CITIC Asset Management, CITIC Prudential, CITIC Construction Investment, Gen Xi Assets, ICBC Credit Suisse, GF Fund, GF Securities , GF Proprietary, Sinolink Securities, | There is no information about the overall operating status of the company, development in new technologies, Yunrui platform and five major research institutes introduction has not been provided. | For more information, please see the investor relations activity list in http://www.cninfo.com.cn |
Guosheng Securities, China Life Security, China Life Pension, China Life Assets, Guotai Fund, UBS SDIC, Guosen Securities, Guoyuan Securities, Haitong Securities, Hechuang Capital, HeXi Youfang Investing, Hony Horizon Fund, Sequoia Capital, HC Capital, Huaan Securities, Huaan Self-operated, Hua Chuang Securities, Harfor Fund, Huashang Fund, Huatai Insurance, Huatai Asset Management, Huaxia, China Everwin Asset, China Future Capital Group, High Flyer Quant Fund, HSBC Jintrust Fund, HuiJin Capital, China Universal Asset Management, Harvest Fund, CCB, Jiangxin Fund, Bank of Communications Schroders, Manulife TEDA Fund, Taikang, Tianhong, Tongben Investment, Sunsource, Wukong Investment, Western Leadbank FMC, Shiva Investment, New China Fund , New China Assets, Cinda Securities, CIB Fund, AEFON-Industrial Fund, Sun Fund, discovering Investment, China Galaxy Securities, Yinhua Fund, Argent Fund, Infore Capital, Yingke PE, Yongrui Fortune, Maxwealth Fund, Yuhe Assets, GTS Fund, .Longrising Fund, GORTUNE Investment, Ze Quan Investment, Changjiang Pension, Changsheng Fund, China Merchants Fund, Zheshang Fund, Zhong Geng Fund, CICC, CICC Asset Management | ||||||
March 24, 2021 | Company meeting room | Telephone communication | Institutions and individuals | Arohi Fund, Broad Peak Investment, Citi Bank, Cledit Suisse, DTC Capital, MLP, Morgan Stanley, ABS Assets, CQ Capital, Purekind Fund, Dacheng Fund Management, Dahua Group, Springs Investment, Orient Securities, Hillview Capital, Fidelity International Investment, Hillhouse Capital, Everbright Securities, Guodu Securities, Guohua Life Insurance, Guotai Fund, Citibank, Huaan Securities, Huarong Securities, Huijing Assets, Harvest Fund, Green wood Assets, JT Asset Management , Junhe Capital, Lead Capital, Lin Fu Investment, Marco Polo Asset Management, Macquarie Funds, Minsheng Securities, DIB Asset Management, Morgan Stanley Funds, Nanjing Securities, Lion Funds, Ruike Asset Management Co., Ltd., Switzerland Credit, Shangao Asset Management, Shanshi Fund, Shanghai Kandao Assets, Shanghai Yiheng Investment, Shanghai Chasecloud Asset Management Co., Ltd., CIFM Asset Management, Deepstone Fund, Shenzhen Echo capital., Shenzhen Xiangshu Assets , Taikang Asset Management Co., Ltd., Sunshine Capital, Southwest Securities, Starock Investment, Easy Fund, Mutual Benefits, Great Wall | There is no information about the operations summary, future strategic investment, and development strategies of each business sector of the company Year in 2020. | 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, 2021
Unit: RMB
Item | March 31, 2021 | December 31, 2020 |
Current Assets: | ||
Cash and Bank Balances | 6,293,350,353.36 | 7,471,652,634.66 |
Deposit Reservation for Balance | ||
Loans to Banks and Other Financial Institutions | ||
Trading Financial Assets | 506,878,374.09 | 2,475,680.45 |
Derivative Financial Assets | ||
Notes Receivable | 222,586,828.58 | 232,857,354.55 |
Accounts Receivable | 12,220,193,199.28 | 12,857,519,110.16 |
Receivables Financing | 1,035,476,913.51 | 1,207,879,654.58 |
Prepayments | 161,714,153.60 | 162,250,648.05 |
Premium Receivable | ||
Reinsurance Accounts Receivable | ||
Reinsurance Contract Reserves Receivable | ||
Other Receivables | 885,793,311.37 | 970,427,893.48 |
Including: Interest Receivable | ||
Dividends Receivable | ||
Buying Back the Sale of Financial Assets | ||
Inventory | 6,097,103,756.18 | 4,928,019,838.00 |
Contract Assets | 102,260,297.93 | 84,825,834.82 |
Holding for-sale Assets |
Non-current Assets Due within 1 Year | 612,063,373.30 | 635,956,549.07 |
Other Current Assets | 661,270,153.24 | 558,434,219.93 |
Subtotal of Current Assets | 28,798,690,714.44 | 29,112,299,417.75 |
Non-current Assets: | ||
Granting of Loans and Advances | ||
Investment in Creditor's Rights | ||
Investment in Other Creditor's Rights | ||
Long-term Receivables | 2,122,293,873.57 | 2,250,315,769.50 |
Long-term Equity Investment | 868,639,104.37 | 455,977,616.16 |
Investment in Other Equity Instruments | ||
Other Non-current Financial Assets | 866,261,508.85 | 360,087,786.34 |
Investment Property | 332,088,083.04 | 336,008,869.13 |
Fixed Assets | 1,959,919,814.17 | 1,515,594,629.97 |
Projects under Construction | 978,543,887.77 | 1,164,130,453.03 |
Productive Biological Assets | ||
Oil and gas assets | ||
Right-of-use Assets | 215,056,482.42 | |
Intangible Assets | 594,239,278.84 | 406,777,323.39 |
Development Expenditure | ||
Goodwill | 42,685,490.30 | 42,685,490.30 |
Long-term Deferred Expenses | 35,454,858.63 | 32,280,430.67 |
Deferred Income Tax Assets | 894,399,405.48 | 832,453,676.69 |
Other Non-current Assets | 85,016,081.94 | 86,422,617.82 |
Subtotal of Non-current Assets | 8,994,597,869.38 | 7,482,734,663.00 |
Total Assets | 37,793,288,583.82 | 36,595,034,080.75 |
Current Liabilities: | ||
Short-term Loan | 1,231,454,666.13 | 250,177,083.34 |
Borrowings from the Central Bank | ||
Borrowings from Banks and Other Financial Institutions |
Transactional Financial Liabilities | 1,042,761.84 | |
Derivative Financial Liabilities | ||
Notes Payable | 3,447,526,796.12 | 3,258,552,758.17 |
Accounts Payable | 5,999,522,945.00 | 6,444,787,705.28 |
Received Prepayments | ||
Contract Liabilities | 819,678,608.61 | 671,120,385.08 |
Financial Assets Sold for Repurchase | ||
Deposit Taking and Interbank Deposit | ||
Receiving from Vicariously Traded Securities | ||
Receiving from Vicariously Sold Securities | ||
Payroll payable | 648,335,502.61 | 1,805,464,535.31 |
Tax Payable | 684,617,819.81 | 900,144,863.67 |
Other Payables | 968,467,036.17 | 970,552,877.22 |
Including: Interest Payable | ||
Dividends Payable | 12,982,399.27 | 12,982,399.27 |
Service Charge and Commission Payable | ||
Reinsurance Accounts Payable | ||
Holding for-sale liabilities | ||
Non-current Liabilities Due within 1 Year | 229,097,062.00 | 151,891,709.34 |
Other Current Liabilities | 284,440,354.28 | 209,401,914.77 |
Subtotal of Current Liabilities | 14,314,183,552.57 | 14,662,093,832.18 |
Non-current Liabilities: | ||
Insurance Contract Reserves | ||
Long-term Loan | 1,378,000,000.00 | 878,000,000.00 |
Bonds Payable | ||
Including: Preferred Stocks | ||
Perpetual Bonds | ||
Lease Liabilities | 121,509,115.83 | |
Long-term Payables |
Long-term Payroll Payable | ||
Expected Liabilities | 266,393,066.24 | 282,427,517.82 |
Deferred Income | 108,914,414.33 | 110,469,806.29 |
Deferred Income Tax Liabilities | 61,845,851.13 | 67,272,768.46 |
Other Non-current Liabilities | 369,645,918.81 | 391,128,045.90 |
Subtotal of Non-current Liabilities | 2,306,308,366.34 | 1,729,298,138.47 |
Total Liabilities | 16,620,491,918.91 | 16,391,391,970.65 |
Shareholders' Equity: | ||
Share Capital | 2,995,579,590.00 | 2,995,579,590.00 |
Other Equity Instruments | ||
Including: Preferred Stocks | ||
Perpetual Bonds | ||
Capital Reserves | 2,587,135,107.94 | 1,989,655,334.05 |
Less: Treasury Share | 581,968,930.89 | 581,968,930.89 |
Other Comprehensive Incomes | 73,231,173.88 | 61,157,523.13 |
Special Reserves | ||
Surplus Reserves | 1,553,691,005.92 | 1,553,691,005.92 |
General Risk Reserves | ||
Undistributed Profits | 14,102,489,388.65 | 13,754,915,904.19 |
Total Shareholders' Equity Attributable to the Parent Company | 20,730,157,335.50 | 19,773,030,426.40 |
Minority Shareholders' Equity | 442,639,329.41 | 430,611,683.70 |
Total Shareholders' Equity | 21,172,796,664.91 | 20,203,642,110.10 |
Total Liabilities and Shareholders' Equity | 37,793,288,583.82 | 36,595,034,080.75 |
Legal representative: Fu Liquan Person in charge of accounting: Xu Qiaofen Person in charge of the accountinginstitution: Zhu Zhuling
2. Balance Sheet of the Parent Company
Unit: RMB
Item | March 31, 2021 | December 31, 2020 |
Current Assets: | ||
Cash and Bank Balances | 2,136,079,368.49 | 3,130,479,311.55 |
Trading Financial Assets | 503,506,849.32 |
Derivative Financial Assets | ||
Notes Receivable | 76,325,143.14 | 74,284,006.99 |
Accounts Receivable | 3,334,285,692.28 | 2,740,152,239.35 |
Receivables Financing | 378,414,500.46 | 169,109,529.24 |
Prepayments | 37,529,957.82 | 48,203,550.97 |
Other Receivables | 13,084,595,903.61 | 13,796,603,550.30 |
Including: Interest Receivable | ||
Dividends Receivable | ||
Inventory | 185,154,390.15 | 171,756,222.72 |
Contract Assets | 8,316,811.52 | 8,338,657.15 |
Holding for-sale Assets | ||
Non-current Assets Due within 1 Year | 60,059,864.07 | 61,828,724.54 |
Other Current Assets | 13,936,871.25 | 12,592.38 |
Subtotal of Current Assets | 19,818,205,352.11 | 20,200,768,385.19 |
Non-current Assets: | ||
Investment in Creditor's Rights | ||
Investment in Other Creditor's Rights | ||
Long-term Receivables | 99,393,268.82 | 100,221,713.49 |
Long-term Equity Investment | 4,121,147,862.35 | 3,660,410,557.29 |
Investment in Other Equity Instruments | ||
Other Non-current Financial Assets | 849,976,508.85 | 355,853,684.59 |
Investment Property | 171,060,808.18 | 173,003,549.71 |
Fixed Assets | 570,329,253.75 | 550,991,444.04 |
Projects under Construction | 499,398,442.52 | 438,014,907.22 |
Productive Biological Assets | ||
Oil and gas assets | ||
Right-of-use Assets | 101,252,294.54 | |
Intangible Assets | 152,990,574.20 | 156,335,152.97 |
Development Expenditure | ||
Goodwill | ||
Long-term Deferred Expenses | 19,225,823.44 | 21,149,342.55 |
Deferred Income Tax Assets | 173,899,292.77 | 135,371,242.86 |
Other Non-current Assets | 8,417,003.55 | 35,774,247.16 |
Subtotal of Non-current Assets | 6,767,091,132.97 | 5,627,125,841.88 |
Total Assets | 26,585,296,485.08 | 25,827,894,227.07 |
Current Liabilities: | ||
Short-term Loan | 529,121,332.80 | 250,177,083.34 |
Transactional financial Liabilities | ||
Derivative Financial Liabilities | ||
Notes Payable | 272,010,077.43 | 303,660,579.62 |
Accounts Payable | 405,284,890.67 | 752,373,890.95 |
Received Prepayments | ||
Contract Liabilities | 78,560,588.43 | 85,275,423.36 |
Payroll Payable | 409,905,572.96 | 1,127,500,408.14 |
Tax Payable | 519,482,084.63 | 627,351,201.46 |
Other Payables | 1,022,238,933.41 | 1,002,654,121.27 |
Including: Interest Payable | ||
Dividends Payable | 12,982,399.27 | 12,982,399.27 |
Holding for-sale Liabilities | ||
Non-current Liabilities Due within 1 Year | 186,467,610.58 | 150,643,750.02 |
Other Current Liabilities | 42,231,074.31 | 26,870,130.42 |
Subtotal of Current Liabilities | 3,465,302,165.22 | 4,326,506,588.58 |
Non-current Liabilities: | ||
Long-term Loan | 1,250,000,000.00 | 750,000,000.00 |
Bonds Payable | ||
Including: Preferred Stocks | ||
Perpetual Bonds | ||
Lease Liabilities | 54,377,957.51 | |
Long-term Payables | ||
Long-term Payroll Payable | ||
Expected Liabilities | 8,058,379.20 | 8,333,634.18 |
Deferred Income | ||
Deferred Income Tax Liabilities | 29,315,669.37 | 29,407,289.24 |
Other Non-current Liabilities | 10,272,904.15 | 10,599,934.34 |
Subtotal of Non-current Liabilities | 1,352,024,910.23 | 798,340,857.76 |
Total Liabilities | 4,817,327,075.45 | 5,124,847,446.34 |
Shareholders' Equity: | ||
Share Capital | 2,995,579,590.00 | 2,995,579,590.00 |
Other Equity Instruments | ||
Including: Preferred Stocks | ||
Perpetual Bonds | ||
Capital Reserves | 2,563,802,932.55 | 1,976,156,775.91 |
Less: Treasury Share | 581,968,930.89 | 581,968,930.89 |
Other Comprehensive Incomes | 544,380.66 | 522,554.00 |
Special Reserves | ||
Surplus Reserves | 1,553,691,005.92 | 1,553,691,005.92 |
Undistributed Profits | 15,236,320,431.39 | 14,759,065,785.79 |
Total Shareholders' Equity | 21,767,969,409.63 | 20,703,046,780.73 |
Total Liabilities and Shareholders' Equity | 26,585,296,485.08 | 25,827,894,227.07 |
3. Consolidated Income Statement
Unit: RMB
Item | This Period's Amount of Occurrence | Previous Period's Amount of Occurrence |
I. Total Operating Revenue | 5,114,399,101.72 | 3,501,562,275.80 |
Including: Operating Revenue | 5,114,399,101.72 | 3,501,562,275.80 |
Interest Income | ||
Earned Premiums | ||
Service Charge and Commission Income | ||
II. Total Operating Cost | 4,770,751,992.98 | 3,369,359,569.59 |
Including: Operating Cost | 3,022,354,395.09 | 1,777,655,306.56 |
Interest Expenditures | ||
Service Charge and Commission Expenses | ||
Surrender Value | ||
Net Claims Paid | ||
Net Amount of Withdrawn Reserve for Insurance Liability |
Contract | ||
Policyholder Dividend Expense | ||
Reinsurance Cost | ||
Taxes and Surcharges | 45,259,450.42 | 18,696,287.45 |
Sales Expenses | 884,332,162.54 | 794,773,576.60 |
Administration Expenses | 186,886,265.44 | 150,490,749.11 |
Research and Development Expense | 605,759,333.31 | 582,896,157.53 |
Financial Expenses | 26,160,386.18 | 44,847,492.34 |
Including: Interest Expenses | 16,480,279.65 | 21,544,585.52 |
Interest Income | 57,860,554.10 | 45,305,751.27 |
Add: Other Income | 159,998,097.67 | 231,668,573.00 |
Investment Income (Mark "-" for Loss) | -74,602,834.57 | -15,622,723.50 |
Including: Investment Income from Affiliates and Joint Ventures | -89,233,951.37 | -16,724,727.64 |
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 "-") | 9,990,151.49 | |
Credit Impairment Losses (Mark "-" for Loss) | -19,450,426.80 | -6,803,561.85 |
Asset Impairment Losses (Mark "-" for Loss) | -4,764,740.17 | -1,523,740.78 |
Asset Disposal Income (Mark "-" for Loss) | 846,368.96 | |
III. Operating Profit (Mark "-" for Loss) | 415,663,725.32 | 339,921,253.08 |
Add: Non-operating Revenues | 3,038,549.12 | 1,936,274.21 |
Less: Non-operating Expenses | 1,862,924.19 | 6,623,544.62 |
IV. Total Profit (Mark "-" for Total Loss) | 416,839,350.25 | 335,233,982.67 |
Less: Income Tax Expense | 57,238,292.05 | 26,101,996.30 |
V. Net Profit (Mark "-" for Net Loss) | 359,601,058.20 | 309,131,986.37 |
(I) Classified by Operation Continuity | ||
1. Net Profit as a Going Concern (Mark "-" for Net Loss) | 359,601,058.20 | 309,131,986.37 |
2. Net Profit of Discontinued Operation (Mark "-" for Net Loss) | ||
(II) Classified by the Attribution of Ownership | ||
1. Net Profit Attributable to Shareholders of Parent Company | 347,573,484.46 | 317,916,471.89 |
2. Minority Shareholders' Profit and Loss | 12,027,573.74 | -8,784,485.52 |
VI. Net Amount of Other Comprehensive Incomes after Tax | 12,073,722.72 | 9,999,857.49 |
Net Amount of Other Comprehensive Incomes after Tax Attributable to the Parent Company's Owner | 12,073,650.75 | 9,999,864.59 |
(I) 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 | ||
(II) Other Comprehensive Income that will be Reclassified as P/L | 12,073,650.75 | 9,999,864.59 |
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. Provisions for the Credit Impairment of Investment in other Creditor's Rights | ||
5. Cash Flow Hedge Reserves | ||
6. Currency Translation Difference | 12,538,226.45 | 9,999,864.59 |
7. Others | -464,575.70 | |
Net Amount of Other Comprehensive Incomes after Tax Attributable to Minority Shareholders | 71.97 | -7.10 |
VII. Total Comprehensive Income | 371,674,780.92 | 319,131,843.86 |
Total Comprehensive Income Attributable to the Parent Company's Owner | 359,647,135.21 | 327,916,336.48 |
Total Comprehensive Income Attributable to Minority Shareholders | 12,027,645.71 | -8,784,492.62 |
VIII. Earnings per Share: | ||
(I) Basic Earnings per Share | 0.12 | 0.11 |
(II) Diluted Earnings per Share | 0.12 | 0.11 |
Legal representative: Fu Liquan Person in charge of accounting: Xu Qiaofen Person in charge of the accountinginstitution: Zhu Zhuling
4. Income Statement of the Parent Company
Unit: RMB
Item | This Period's Amount of Occurrence | Previous Period's Amount of Occurrence |
I. Operating Revenue | 1,563,961,550.22 | 1,534,303,148.70 |
Less: Operating Cost | 243,645,162.63 | 223,891,713.58 |
Taxes and Surcharges | 19,757,987.18 | 10,768,457.54 |
Sales Expenses | 279,505,529.10 | 250,468,420.26 |
Administration Expenses | 91,753,307.57 | 75,613,815.40 |
Research and Development Expense | 454,461,822.19 | 496,224,547.93 |
Financial Expenses | -12,966,763.14 | -4,875,931.36 |
Including: Interest Expenses | 13,058,070.76 | 14,345,671.26 |
Interest Income | 27,404,419.95 | 19,875,466.93 |
Add: Other income | 126,639,304.33 | 204,171,397.15 |
Investment Income (Mark "-" for Loss) | -94,254,915.67 | -10,851,788.21 |
Including: Investment Income from Affiliates and Joint Ventures | -96,713,821.28 | -11,978,886.10 |
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 "-") | -1,913,829.24 | |
Credit Impairment Losses (Mark "-" for Loss) | 4,028,611.39 | 6,922,219.15 |
Asset Impairment Losses (Mark "-" for Loss) | -123,203.33 | |
Asset Disposal Income (Mark "-" for Loss) | 623,180.23 | |
II. Operating Profit (Mark "-" for Loss) | 522,803,652.40 | 682,453,953.44 |
Add: Non-operating Revenues | 2,458,012.55 | 1,387,746.17 |
Less: Non-operating Expenses | 161,235.05 | 5,434,839.68 |
III. Total Profit (Mark "-" for Total Loss) | 525,100,429.90 | 678,406,859.93 |
Less: Income Tax Expense | 47,845,784.30 | 51,135,509.16 |
IV. Net Profit (Mark "-" for Net Loss) | 477,254,645.60 | 627,271,350.77 |
(I) Net Profit as a Going Concern (Mark "-" for Net Loss) | 477,254,645.60 | 627,271,350.77 |
(II) Net Profit of Discontinued Operation (Mark "-" for Net Loss) |
V. Net Amount of Other Comprehensive Incomes After Tax | 21,826.66 | |
(1) Other Cmprehensive 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 | ||
(II) Other Comprehensive Income that will be Reclassified as P/L | 21,826.66 | |
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. Provisions for the Credit Impairment of Investment in Other Creditor's Rights | ||
5. Cash Flow Hedge Reserves | ||
6. Currency Translation Difference | ||
7. Others | 21,826.66 | |
VI. Total Comprehensive Income | 477,276,472.26 | 627,271,350.77 |
VII. Earnings per Share: |
(I) Basic Earnings per Share | 0.16 | 0.22 |
(II) Diluted Earnings per Share | 0.16 | 0.22 |
5. Consolidated Cash Flow Statement
Unit: RMB
Item | 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 | 6,696,184,907.84 | 6,120,271,238.59 |
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 | 538,055,790.42 | 740,215,721.64 |
Other Received Cashes Related to Operational Activities | 54,578,627.89 | 44,949,326.78 |
Subtotal of Cash Inflow from Operational Activities | 7,288,819,326.15 | 6,905,436,287.01 |
Cash Paid for Merchandise and Services | 5,193,565,946.56 | 5,017,346,044.66 |
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 | 2,392,888,197.29 | 1,981,075,262.40 |
Cash Paid for Taxes and Surcharges | 562,650,190.08 | 636,310,647.26 |
Other Paid Cashes Related to Operational Activities | 467,285,248.62 | 461,221,931.66 |
Subtotal of Cash Outflow from Operational Activities | 8,616,389,582.55 | 8,095,953,885.98 |
Net Cash Flow Generated by Operating Activities | -1,327,570,256.40 | -1,190,517,598.97 |
II. Cash Flow from Investment Activities: | ||
Cash Arising from Disposal of Investments | 290,456,497.18 | 199,900,000.00 |
Cash Arising from Investment Incomes | 11,560,064.44 | 640,733.53 |
Net Cash Arising from Disposal of Fixed Assets, Intangible Assets and Other Long-term Assets | 565,031.37 | 219,552.16 |
Net Cash Arising from Disposal of Subsidiaries and Other Business Units | ||
Other Received Cashes Related to Investment Activities | 18,821,667.60 | 1,619,946.28 |
Subtotal of Cash Inflow from Investment Activities | 321,403,260.59 | 202,380,231.97 |
Cash Paid for Purchase and Construction of Fixed Assets, Intangible Assets and Other Long-term Assets | 297,175,969.38 | 127,443,261.33 |
Cash Paid for Investments | 1,296,000,000.00 | 308,047,000.00 |
Net Increase in Pledge Loans | ||
Net Cash Paid for Acquisition of Subsidiaries and Other Business Units | ||
Other Paid Cashes Related to Investment Activities | 4,604,399.75 | 70,109,093.75 |
Subtotal of Cash Outflows from Investment Activities | 1,597,780,369.13 | 505,599,355.08 |
Net amount of Cash Flow Generated by Investment Activities | -1,276,377,108.54 | -303,219,123.11 |
III. Cash Flow from Financing Activities: | ||
Cash Arising from Absorbing Investments | 2,600,000.00 | |
Including: Cash Arising from Subsidiaries Absorbing Investments by Minority Shareholders | 2,600,000.00 | |
Cash Arising from Borrowings | 1,729,079,926.55 | 2,503,241,328.07 |
Other Received Cashes Related to Financing Activities | 0.00 | 241,066,000.00 |
Subtotal of Cash Inflow from Financing Activities | 1,729,079,926.55 | 2,746,907,328.07 |
Cash Paid for Debts Repayment | 250,000,000.00 | 1,134,342,813.55 |
Cash Paid for Distribution of Dividends and Profits or Payment of Interests | 12,204,555.53 | 13,192,254.16 |
Including: Dividends and Profits Paid to Minority Shareholders by Subsidiaries | ||
Other Paid Cashes Related to Financing Activities | 27,392,770.30 | 241,066,000.00 |
Subtotal of Cash Outflow from Financing Activities | 289,597,325.83 | 1,388,601,067.71 |
Net Cash Flow Generated by Financing Activities | 1,439,482,600.72 | 1,358,306,260.36 |
IV. Impact of Fluctuation in Exchange Rate on Cash and Cash Equivalents | -22,308,563.47 | -21,109,999.08 |
V. Net Increase in Cash and Cash Equivalents | -1,186,773,327.69 | -156,540,460.80 |
Add: Cash and Cash Equivalents at the Commencement of the Period | 7,358,452,769.53 | 2,734,185,976.41 |
VI. Cash and Cash Equivalents at the End of the Period | 6,171,679,441.84 | 2,577,645,515.61 |
6. Cash Flow Statement of the Parent Company
Unit: RMB
Item | 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 | 925,149,718.54 | 3,415,807,937.69 |
Tax Refund | 117,475,226.11 | 241,436,506.43 |
Other Received Cashes Related to Operational Activities | 33,095,838.82 | 16,282,249.26 |
Subtotal of Cash Inflow from Operational Activities | 1,075,720,783.47 | 3,673,526,693.38 |
Cash Paid for Merchandise and Services | 502,090,945.49 | 43,425,201.12 |
Cash Paid to and for Employees | 1,387,469,606.70 | 1,276,096,836.81 |
Cash Paid for Taxes and Surcharges | 328,920,020.28 | 398,845,113.34 |
Other Paid Cashes Related to Operational Activities | 240,878,106.41 | 256,763,641.58 |
Subtotal of Cash Outflow from Operational Activities | 2,459,358,678.88 | 1,975,130,792.85 |
Net Cash Flow Generated by Operating Activities | -1,383,637,895.41 | 1,698,395,900.53 |
II. Cash Flow from Investment Activities: | ||
Cash Arising from Disposal of Investments | 290,456,497.18 | 199,900,000.00 |
Cash Arising from Investment Incomes | 2,458,905.61 | 640,733.53 |
Net Cash Arising from Disposal of Fixed Assets, Intangible Assets and Other Long-term Assets | 7,129,335.51 | 7,434,630.94 |
Net Cash Arising from Disposal of Subsidiaries and Other Business Units | ||
Other Received Cashes Related to Investment Activities | 2,045,056.66 | 1,601,946.28 |
Subtotal of cash inflow from investment activities | 302,089,794.96 | 209,577,310.75 |
Cash Paid for Purchase and Construction of Fixed Assets, Intangible Assets and Other Long-term Assets | 88,557,828.17 | 75,087,633.55 |
Cash Paid for Investments | 1,331,940,000.00 | 325,407,000.00 |
Net Cash Paid for Acquisition of Subsidiaries and Other Business Units | ||
Other Paid Cashes Related to Investment Activities | ||
Subtotal of Cash Outflows from Investment Activities | 1,420,497,828.17 | 400,494,633.55 |
Net amount of Cash Flow Generated by Investment Activities | -1,118,408,033.21 | -190,917,322.80 |
III. Cash Flow from Financing Activities: | ||
Cash Arising from Absorbing Investments | ||
Cash Arising from Borrowings | 1,029,079,926.55 | 1,739,800,000.00 |
Other Received Cashes Related to Financing Activities | 1,113,601,928.85 | 811,534,932.34 |
Subtotal of Cash Inflow from Financing Activities | 2,142,681,855.40 | 2,551,334,932.34 |
Cash Paid for Debts Repayment | 250,000,000.00 | 599,800,000.00 |
Cash Paid for Distribution of Dividends and Profits or Payment of Interests | 10,665,273.61 | 8,418,694.92 |
Other Paid Cashes Related to Financing Activities | 380,050,687.97 | 3,537,474,262.85 |
Subtotal of Cash Outflow from Financing Activities | 640,715,961.58 | 4,145,692,957.77 |
Net Cash Flow Generated by Financing Activities | 1,501,965,893.82 | -1,594,358,025.43 |
IV. Impact of Fluctuation in Exchange Rate on Cash and Cash Equivalents | 6,203.88 | 1,932.87 |
V. Net Increase in Cash and Cash Equivalents | -1,000,073,830.92 | -86,877,514.83 |
Add: Cash and Cash Equivalents at the Commencement of the Period | 3,090,496,504.00 | 860,741,299.14 |
VI. Cash and Cash Equivalents at the End of the Period | 2,090,422,673.08 | 773,863,784.31 |
II. Adjustments to the Financial Statements
1. Details of adjustment for financial statements at the beginning of year due to firstimplementation of the new lease standards from 2021.
√ Applicable □ Not applicable
Whether the accounts of the balance sheet at the beginning of the year shall be adjusted
√ Yes □ No
Consolidated Balance Sheet
Unit: RMB
Item | December 31, 2020 | January 1, 2021 | Adjusted amount |
Current Assets: | |||
Cash and Bank Balances | 7,471,652,634.66 | 7,471,652,634.66 | |
Trading Financial Assets | 2,475,680.45 | 2,475,680.45 |
Notes Receivable | 232,857,354.55 | 232,857,354.55 | |
Accounts Receivable | 12,857,519,110.16 | 12,857,519,110.16 | |
Receivables Financing | 1,207,879,654.58 | 1,207,879,654.58 | |
Prepayments | 162,250,648.05 | 152,994,874.90 | -9,255,773.15 |
Other Receivables | 970,427,893.48 | 968,975,721.11 | -1,452,172.37 |
Inventory | 4,928,019,838.00 | 4,928,019,838.00 | |
Contract Assets | 84,825,834.82 | 84,825,834.82 | |
Non-current Assets Due within 1 Year | 635,956,549.07 | 635,956,549.07 | |
Other Current Assets | 558,434,219.93 | 558,536,267.47 | 102,047.54 |
Subtotal of Current Assets | 29,112,299,417.75 | 29,101,693,519.77 | -10,605,897.98 |
Non-current Assets: | |||
Long-term Receivables | 2,250,315,769.50 | 2,250,315,769.50 | |
Long-term Equity Investment | 455,977,616.16 | 455,977,616.16 | |
Other Non-current Financial Assets | 360,087,786.34 | 360,087,786.34 | |
Investment Property | 336,008,869.13 | 336,008,869.13 | |
Fixed Assets | 1,515,594,629.97 | 1,515,594,629.97 | |
Projects under Construction | 1,164,130,453.03 | 1,164,130,453.03 | |
Right-of-use Assets | 155,673,708.67 | 155,673,708.67 | |
Intangible Assets | 406,777,323.39 | 406,777,323.39 | |
Goodwill | 42,685,490.30 | 42,685,490.30 | |
Long-term Deferred Expenses | 32,280,430.67 | 32,280,430.67 | |
Deferred Income Tax Assets | 832,453,676.69 | 832,453,676.69 | |
Other Non-current Assets | 86,422,617.82 | 86,422,617.82 | |
Subtotal of Non-current Assets | 7,482,734,663.00 | 7,638,408,371.67 | 155,673,708.67 |
Total Assets | 36,595,034,080.75 | 36,740,101,891.44 | 145,067,810.69 |
Current Liabilities: |
Short-term Loan | 250,177,083.34 | 250,177,083.34 | |
Notes Payable | 3,258,552,758.17 | 3,258,552,758.17 | |
Accounts Payable | 6,444,787,705.28 | 6,444,787,705.28 | |
Contract Liabilities | 671,120,385.08 | 671,120,385.08 | |
Payroll Payable | 1,805,464,535.31 | 1,805,464,535.31 | |
Tax Payable | 900,144,863.67 | 900,144,863.67 | |
Other Payables | 970,552,877.22 | 970,552,877.22 | |
Dividends Payable | 12,982,399.27 | 12,982,399.27 | |
Non-current Liabilities Due within 1 Year | 151,891,709.34 | 210,863,157.61 | 58,971,448.27 |
Other Current Liabilities | 209,401,914.77 | 209,401,914.77 | |
Subtotal of Current Liabilities | 14,662,093,832.18 | 14,721,065,280.45 | 58,971,448.27 |
Non-current Liabilities: | |||
Long-term Loan | 878,000,000.00 | 878,000,000.00 | |
Lease Liabilities | 86,096,362.42 | 86,096,362.42 | |
Expected Liabilities | 282,427,517.82 | 282,427,517.82 | |
Deferred Income | 110,469,806.29 | 110,469,806.29 | |
Deferred Income Tax Liabilities | 67,272,768.46 | 67,272,768.46 | |
Other Non-current Liabilities | 391,128,045.90 | 391,128,045.90 | |
Subtotal of Non-current Liabilities | 1,729,298,138.47 | 1,815,394,500.89 | 86,096,362.42 |
Total Liabilities | 16,391,391,970.65 | 16,536,459,781.34 | 145,067,810.69 |
Shareholders' Equity: | |||
Share Capital | 2,995,579,590.00 | 2,995,579,590.00 | |
Capital Reserves | 1,989,655,334.05 | 1,989,655,334.05 | |
Less: Treasury Share | 581,968,930.89 | 581,968,930.89 | |
Other Comprehensive Incomes | 61,157,523.13 | 61,157,523.13 | |
Surplus Reserves | 1,553,691,005.92 | 1,553,691,005.92 | |
Undistributed Profits | 13,754,915,904.19 | 13,754,915,904.19 | |
Total Shareholders' Equity | 19,773,030,426.40 | 19,773,030,426.40 |
Attributable to the Parent Company | |||
Minority Shareholders' Equity | 430,611,683.70 | 430,611,683.70 | |
Total Shareholders' Equity | 20,203,642,110.10 | 20,203,642,110.10 | |
Total Liabilities and Shareholders' Equity | 36,595,034,080.75 | 36,740,101,891.44 | 145,067,810.69 |
Balance Sheet of the Parent Company
Unit: RMB
Item | December 31, 2020 | January 1, 2021 | Adjusted amount |
Current Assets: | |||
Cash and Bank Balances | 3,130,479,311.55 | 3,130,479,311.55 | |
Notes Receivable | 74,284,006.99 | 74,284,006.99 | |
Accounts Receivable | 2,740,152,239.35 | 2,740,152,239.35 | |
Receivables Financing | 169,109,529.24 | 169,109,529.24 | |
Prepayments | 48,203,550.97 | 40,722,857.29 | -7,480,693.68 |
Other Receivables | 13,796,603,550.30 | 13,796,461,689.02 | -141,861.28 |
Inventory | 171,756,222.72 | 171,756,222.72 | |
Contract Assets | 8,338,657.15 | 8,338,657.15 | |
Non-current Assets Due within 1 Year | 61,828,724.54 | 61,828,724.54 | |
Other Current Assets | 12,592.38 | 12,592.38 | |
Subtotal of Current Assets | 20,200,768,385.19 | 20,193,145,830.23 | -7,622,554.96 |
Non-current Assets: | |||
Long-term Receivables | 100,221,713.49 | 100,221,713.49 | |
Long-term Equity Investment | 3,660,410,557.29 | 3,660,410,557.29 | |
Other Non-current Financial Assets | 355,853,684.59 | 355,853,684.59 | |
Investment Property | 173,003,549.71 | 173,003,549.71 | |
Fixed Assets | 550,991,444.04 | 550,991,444.04 | |
Projects under Construction | 438,014,907.22 | 438,014,907.22 | |
Right-of-use Assets | 82,586,983.09 | 82,586,983.09 |
Intangible Assets | 156,335,152.97 | 156,335,152.97 | |
Long-term Deferred Expenses | 21,149,342.55 | 21,149,342.55 | |
Deferred Income Tax Assets | 135,371,242.86 | 135,371,242.86 | |
Other Non-current Assets | 35,774,247.16 | 35,774,247.16 | |
Subtotal of Non-current Assets | 5,627,125,841.88 | 5,709,712,824.97 | 82,586,983.09 |
Total Assets | 25,827,894,227.07 | 25,902,858,655.20 | 74,964,428.13 |
Current Liabilities: | |||
Short-term Loan | 250,177,083.34 | 250,177,083.34 | |
Notes Payable | 303,660,579.62 | 303,660,579.62 | |
Accounts Payable | 752,373,890.95 | 752,373,890.95 | |
Contract Liabilities | 85,275,423.36 | 85,275,423.36 | |
Payroll payable | 1,127,500,408.14 | 1,127,500,408.14 | |
Tax Payable | 627,351,201.46 | 627,351,201.46 | |
Other Payables | 1,002,654,121.27 | 1,002,654,121.27 | |
Dividends Payable | 12,982,399.27 | 12,982,399.27 | |
Non-current Liabilities Due within 1 Year | 150,643,750.02 | 180,101,689.01 | 29,457,938.99 |
Other Current Liabilities | 26,870,130.42 | 26,870,130.42 | |
Subtotal of Current Liabilities | 4,326,506,588.58 | 4,355,964,527.57 | 29,457,938.99 |
Non-current Liabilities: | |||
Long-term Loan | 750,000,000.00 | 750,000,000.00 | |
Lease Liabilities | 45,506,489.14 | 45,506,489.14 | |
Expected Liabilities | 8,333,634.18 | 8,333,634.18 | |
Deferred Income Tax Liabilities | 29,407,289.24 | 29,407,289.24 | |
Other Non-current Liabilities | 10,599,934.34 | 10,599,934.34 | |
Subtotal of Non-current Liabilities | 798,340,857.76 | 843,847,346.90 | 45,506,489.14 |
Total Liabilities | 5,124,847,446.34 | 5,199,811,874.47 | 74,964,428.13 |
Shareholders' Equity: | |||
Share Capital | 2,995,579,590.00 | 2,995,579,590.00 | |
Capital Reserves | 1,976,156,775.91 | 1,976,156,775.91 | |
Less: Treasury Share | 581,968,930.89 | 581,968,930.89 | |
Other Comprehensive Incomes | 522,554.00 | 522,554.00 | |
Surplus Reserves | 1,553,691,005.92 | 1,553,691,005.92 | |
Undistributed Profits | 14,759,065,785.79 | 14,759,065,785.79 | |
Total Shareholders' Equity | 20,703,046,780.73 | 20,703,046,780.73 | |
Total Liabilities and Shareholders' Equity | 25,827,894,227.07 | 25,902,858,655.20 | 74,964,428.13 |
2. Explanation of data comparison before and after the adjustment due to first implementation ofthe new lease accounting standard from 2021
□ Applicable √ Not applicable
III. Audit ReportHas the Q1report been audited
□ Yes √ No
The report for the Q1 has not been audited.