China Fangda Group Co., Ltd.
2019 Third Quarter Report (Full)
October 2019
I Important Statement
The members of the Board and the Company guarantee that the quarterlyreport is free from any false information, misleading statement or materialomission and are jointly and severally liable for the information’s truthfulness,accuracy and integrity.
All the Directors have attended the meeting of the board meeting at whichthis report was examined.
Mr. Xiong Jianming, the Chairman of Board, Mr. Lin Kebin, the ChiefFinancial Officer, and Mr. Wu Bohua, the manager of accounting departmentdeclare: the Financial Report carried in this report is authentic and completed.
II. General Information
1. Financial Highlight
Whether the Company needs to make retroactive adjustment or restatement of financial data of previous years
□ Yes √ No
End of the report period | End of last year | Year-on-year change | ||||
Total asset (RMB) | 10,888,421,106.10 | 10,658,854,133.73 | 2.15% | |||
Net profit attributable to the shareholders of the listed company (RMB) | 5,051,483,434.60 | 5,195,187,621.88 | -2.77% | |||
This report period | Year-on-year change (%) | Between beginning of the year to the end of the report period | Change from the same period last year | |||
Turnover (yuan) | 699,243,342.82 | -11.85% | 2,125,134,289.81 | -4.93% | ||
Net profit attributable to shareholders of the listed company (yuan) | 27,468,258.38 | -69.93% | 156,050,013.39 | -51.46% | ||
Net profit attributable to the shareholders of the listed company and after deducting of non-recurring gain/loss (RMB) | 15,661,279.22 | -81.76% | 129,038,343.28 | -56.34% | ||
Net cash flow generated by business operation (RMB) | -- | -- | -408,455,390.94 | -462.71% | ||
Basic earnings per share (yuan/share) | 0.02 | -75.00% | 0.14 | -50.00% | ||
Diluted Earnings per share (yuan/share) | 0.02 | -75.00% | 0.14 | -50.00% | ||
Weighted average net income/asset ratio | 0.55% | -2.22% | 3.11% | -6.66% |
Notes:
1. The above-mentioned decrease in “net profit attributable to shareholders of the listed company” was mainly due to the factthat the Shenzhen Fangda Town project which had a higher gross profit during the reporting period and contributed more to theprofit in the previous year, was nearing the end of the planned sales area resulting in a decrease in operating income and profit. Inaddition, the operating income, net profit and gross profit margin of the curtain wall systems and materials industries and railtransit screen door equipment businesses have increased, as follows:
1. The real estate industry realized operating income of RMB 236,817,200 in the first three quarters of 2019,a decrease of 62.79% over the same period of the previous year; net profit of RMB 59,435,400 was reduced byRMB169,668,700 compared with the same period of the previous year with a decrease of 74.06%;
2. In the first three quarters of 2019, the curtain wall system and materials industry realized operatingincome of RMB1,537,801,300, an increase of 13.66% over the same period of the previous year; the net profitwas RMB57,849,500, an increase of 4.48%; with a gross margin of 14.49%, up0.89 percentages over the same periodof last year;
3. In the first three quarters of 2019, the rail transit equipment industry realized operating income ofRMB319,264,800, an increase of 51.99% over the same period of the previous year; the net profit was RMB52,927,400,an increase of 61.45%; with a gross margin of 28.03%, up 0.89 percentages over the same period of the previousyear.
2. The decrease in the above-mentioned “net cash flow from operating activities” was mainly due to the decrease in the revenueof the Shenzhen Fangda town project due to the decrease in operating income during the reporting period, the annual corporateincome tax settlement and payment of taxes, and the development investment of new projects. In addition, the cash flow of thecurtain wall system and materials industry declined from the same period last year.The cash flow of the rail transit equipment industry increased from the same period last year. The changesin the cash flow of the curtain wall system and material business and rail transit equipment business are within the reasonablerange of fluctuations.The details are disclosed as follows:
1. The net cash flow generated by the real estate industry in the first three quarters of 2019 was RMB-220,978,800, compared withRMB239,685,600 in the same period of the previous year, a decrease of RMB460,664,300 over the same period of the previous year;
2. The net cash flow generated by the operating activities of the curtain wall system and materials industry in the first threequarters of 2019 was RMB -188,369,400, compared with RMB-86,261,000 in the same period of last year, a decrease ofRMB102,108,500 from the same period of the previous year;
3. The net cash flow generated by the operating activities of the rail transit screen door equipment industry in the first three
quarters of 2019 was RMB-5,498,400, compared with RMB-36,846,700 in the same period of last year, which was improved
compared with the same period of the previous year.
Accidental gain/loss item and amount
√ Applicable □ Inapplicable
In RMB
Item | Amount from beginning of the year to the end of the report period | Notes |
Non-current asset disposal gain/loss (including the write-off part for which assets impairment provision is made) | -35,159.35 | |
Subsidies accounted into the current income account (except the government subsidy closely related to the enterprise’s business and based on unified national standard quota) | 4,712,514.15 | |
Capital using expense charged to non-financial enterprises and accounted into the current income account | 585,760.51 | |
Gain from entrusted investment or assets management | 5,533,960.61 | |
Gain/loss from change of fair value of transactional financial asset and liabilities, and investment gains from disposal of | 1,494,278.09 |
transactional and derivative financial assets and liabilities and sellable financial assets, other than valid period value instruments related to the Company’s common businesses | ||
Gain/loss from commissioned loans | 301,965.98 | |
Other non-business income and expenditures other than the above | 4,603,867.26 | |
Less: Influenced amount of income tax | -9,786,470.36 | |
Influenced amount of minority shareholders’ equity (after-tax) | -28,012.50 | |
Total | 27,011,670.11 | -- |
Explanation statement should be made for accidental gain/loss items defined and accidental gain/loss items defined as regulargain/loss items according to the Explanation Announcement of Information Disclosure No. 1 - Non-recurring gain/loss mentioned.
□ Applicable √ Inapplicable
No circumstance that should be defined as recurrent profit and loss according to Explanation Announcement of InformationDisclosure No. 1 - Non-recurring gain/loss occurs in the report period.
2. Total number of shareholders and shareholding of top 10 shareholders by the end of thereport period
1. Ordinary shareholders, preference shareholders with resumed voting rights and top 10 shareholders
In share
Number of shareholders of common shares at the end of the report period | 70,369 | Number of shareholders of preferred stocks of which voting rights recovered in the report period (if any) | 0 | |||||
Top 10 Shareholders | ||||||||
Shareholder name | Nature of shareholder | Shareholding percentage | Shareholding number | Conditional shares | Pledging or freezing | |||
Share status | Quantity | |||||||
Shenzhen Banglin Technologies Development Co., Ltd. | Domestic non-state legal person | 10.08% | 113,202,154 | Pledged | 32,860,000 | |||
Shengjiu Investment Ltd. | Foreign legal person | 8.52% | 95,688,766 | |||||
Fang Wei | Domestic natural person | 3.03% | 34,071,739 | |||||
Gong Qing Cheng Shi Li He | Domestic non-state legal | 2.38% | 26,791,488 |
Investment Management Partnership Enterprise (limited partner) | person | |||||
Shenwan Hongyuan Securities (Hong Kong) Co., Ltd. | Foreign legal person | 1.22% | 13,705,232 | |||
VANGUARD EMERGING MARKETS STOCK INDEX FUND | Foreign legal person | 0.71% | 7,946,483 | |||
VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND | Foreign legal person | 0.52% | 5,872,007 | |||
Qu Chunlin | Domestic natural person | 0.38% | 4,236,961 | |||
First Shanghai Securities Limited | Foreign legal person | 0.36% | 4,001,704 | |||
Essence International Securities (Hong Kong) Co., Ltd. | Foreign legal person | 0.33% | 3,757,707 | |||
Top 10 holders of unconditional shares | ||||||
Shareholder name | Amount of shares without sales restriction | Category of shares | ||||
Category of shares | Quantity | |||||
Shenzhen Banglin Technologies Development Co., Ltd. | 113,202,154 | RMB common shares | 113,202,154 | |||
Shengjiu Investment Ltd. | 95,688,766 | Foreign shares listed in domestic exchanges | 95,688,766 | |||
Fang Wei | 34,071,739 | RMB common shares | 34,071,739 | |||
Gong Qing Cheng Shi Li He | 26,791,488 | RMB common | 26,791,488 |
Investment Management Partnership Enterprise (limited partner) | shares | ||
Shenwan Hongyuan Securities (Hong Kong) Co., Ltd. | 13,705,232 | Foreign shares listed in domestic exchanges | 13,705,232 |
VANGUARD EMERGING MARKETS STOCK INDEX FUND | 7,946,483 | Foreign shares listed in domestic exchanges | 7,946,483 |
VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND | 5,872,007 | Foreign shares listed in domestic exchanges | 5,872,007 |
Qu Chunlin | 4,236,961 | RMB common shares | 4,236,961 |
First Shanghai Securities Limited | 4,001,704 | Foreign shares listed in domestic exchanges | 4,001,704 |
Essence International Securities (Hong Kong) Co., Ltd. | 3,757,707 | Foreign shares listed in domestic exchanges | 3,757,707 |
Notes to top ten shareholder relationship or "action in concert" | Among the shareholders, Shenzhen Banglin Technology Development Co., Ltd. and Shengjiu Investment Co., Ltd. are parties action-in-concert. Shenzhen Banglin Technology Development Co., Ltd. and Gong Qing Cheng Shi Li He Investment Management Partnership Enterprise are related parties. The Company is not notified of other action-in-concert or related parties among the other holders of current shares. | ||
Top-10 common share shareholders participating in margin trade (if any) | None |
Agreed re-purchasing by the Company’s top 10 shareholders of common shares and top 10 shareholders of unconditional commonshares in the report period
□ Yes √ No
No agreed re-purchasing by the Company’s top 10 shareholders of common shares and top 10 shareholders of unconditionalcommon shares in the report period
2. Total number of preferred shareholders and shareholding of top 10 preferred shareholders by the end ofthe report period
□ Applicable √ Inapplicable
III Significant Events
1. Major changes in accounting items and financial data in the report period and reasons
√ Applicable □ Inapplicable
In RMB | ||||
Item | Balance on September 30, 2019 | Balance on December 31, 2018 | YOY change (% ) | Cause of change |
Notes receivable | 90,091,337.35 | 140,139,692.84 | -35.71% | Due to payment of mature notes |
Other current assets | 119,263,124.05 | 51,698,111.14 | 130.69% | Mainly due to the increase in the input tax to be verified and to be deducted |
Construction in process | 95,403,024.12 | 58,269,452.72 | 63.73% | mainly due to the increase in investment in construction of the Shanghai East China Base. |
Short-term loans | 724,000,000.00 | 208,000,000.00 | 248.08% | Mainly due to increase in bank borrowings |
Prepayment received | 138,808,823.95 | 278,577,848.54 | -50.17% | Due to the transfer for sales to settlement in the period |
Employees' wage payable | 24,458,669.74 | 44,513,062.17 | -45.05% | Annual bonus paid |
Taxes payable | 20,872,749.79 | 107,709,999.19 | -80.62% | Mainly due to the annual final settlement of the corporate income tax |
Non-current liabilities due in 1 year | 850,000,000.00 | 200,000,000.00 | 325.00% | Reclassified long-term loans due within 1 year |
Long-term loans | 599,198,144.39 | 1,193,978,153.39 | -49.81% | Mainly due to the repayment and reclassification of non-current liabilities due in 1 year |
Surplus reserves | 54,042,195.07 | 120,475,221.40 | -55.14% | Mainly due to the repurchase of B shares in the current period |
Item | Total amount in this year | Last period | YOY change (% ) | Cause of change |
Taxes and surcharges | 47,749,346.11 | 139,027,527.35 | -65.65% | Mainly due to the decrease in real estate income which is due to the decrease in provision of the land VAT. |
R&D cost | 35,163,348.44 | 11,567,916.09 | 203.97% | Due to increased investment in research and development |
Financial expenses | 75,982,086.31 | 51,121,831.76 | 48.63% | Due to the increase in borrowings during the period and the suspension of capitalization of interest expenses of Fangda Town project |
Investment income | 6,163,431.10 | 57,877,044.56 | -89.35% | Due to the decrease in the current wealth management investment |
Gain caused by changes in fair value | - | -34,326,342.25 | 100.00% | Changes in the fair value of the fund investment in the previous period |
Income tax expenses | 14,924,568.34 | 84,216,677.45 | -82.28% | Mainly due to the decrease in profits which is due to the decrease in income tax |
Net profit | 156,050,013.39 | 321,470,008.08 | -51.46% | Mainly due to recognition of income from the Shenzhen Fangda Town project and decrease in the net profit |
Cash flow generated by business operations, net | -408,455,390.94 | 112,612,558.74 | -462.71% | Mainly due to the decrease in cash flow from real estate business activities |
Cash flow generated by investment activities, net | -398,879,702.81 | 91,103,672.34 | -537.83% | Mainly due to the increase in net investment expenditure during the period, the increase in construction investment in construction projects and investment real estate, and the increase in investment expenses of subsidiaries. |
Net cash flow generated by financing activities | 232,130,880.90 | -431,042,206.35 | 153.85% | Mainly due to net increase in current period bank borrowings |
2. Progress of key issues and its impacts and solutions
□ Applicable √ Inapplicable
Progress in the implementation of share repurchase
□ Applicable √ Inapplicable
Progress in the implementation of the reduction of shareholding shares by means of centralized bidding
□ Applicable √ Inapplicable
3. Commitments that have not been fulfilled by actual controller, shareholders, related parties,acquirers of the Company
□ Applicable √ Inapplicable
There is no commitment that has not been fulfilled by actual controller, shareholders, related parties, acquirers of the Company
4. Forecast of operating performance in 2019
Warning and reasons of possible net loss or substantial change from the last period between the beginning of the year and the end ofthe next report period
√ Applicable □ Inapplicable
Forecast: substantial decrease from the same period last yearData type: within a period of time
Between beginning of the year to the end of the next report period | Same period last year | Change | ||||||
Net profit forecast (in RMB10,000) | 20,000 | to | 30,000 | 224,616.46 | Decrease | 91.10% | to | 86.64% |
Basic earnings per share (yuan/share) | 0.18 | to | 0.27 | 1.91 | Decrease | 90.58% | to | 85.86% |
Result forecast note | The main reason for the expected decline in 2019 results: 1. The sales of Shenzhen Fangda Town project is nearly completed, resulting in a decrease in operating income and net profit; 2. In 2018, as the 1# building of Shenzhen Fangda Town Project wasrecognized as an investment real estat, at the end of the period, the non recurring income of fair value change generated by the end of the period's evaluation and appreciation increased the net profit increased by approximately RMB 2.2 billion. In 2019, there was no such income from the above business. |
5. Securities investment
√ Applicable □ Inapplicable
In RMB
Securities | Code | Abbreviation | Initial investment cost | Accounting method | Opening book value | Gain/loss caused by changes in fair value | Accumulative changes in fair value accounting into | Amount purchased in the period | Amount sold in the period | Gain/loss | Closing book value | Accounting item | Capital source |
the income account | |||||||||||||
Fund | 004400 | Jinxin Minxing Bond A | 200,000,000.00 | Measurement at fair value | 0.00 | 200,000,000.00 | 200,000,000.00 | 761,235.04 | 0.00 | Transactional financial assets | Self-owned fund | ||
Fund | 002163 | Dongfang Huixin Flexible Configuration Compound Securities Investment Fund Class C | 200,000,000.00 | Measurement at fair value | 0.00 | 200,000,000.00 | 200,000,000.00 | 783,043.06 | 0.00 | Transactional financial assets | Self-owned fund | ||
Total | 400,000,000.00 | -- | 0.00 | 0.00 | 0.00 | 400,000,000.00 | 400,000,000.00 | 1,544,278.10 | 0.00 | -- | -- | ||
Disclosure date of approval by the Board of Directors of securities investment | September 10, 2018 | ||||||||||||
Disclosure date of securities investment approval by the Shareholders’ Meeting (if any) | None |
6. Entrusted wealth management
√ Applicable □ Inapplicable
In RMB10,000
Type | Source of fund | Amount | Undue balance | Due balance to be recovered |
Bank financial products | Self-owned fund | 54,828 | 499.09 | 0 |
Total | 54,828 | 499.09 | 0 |
Specific circumstances of high-risk entrusted financing with large individual amount or low security, poor liquidity, and no costprotection
□ Applicable √ Inapplicable
Entrusted financial management expected to fail to recover the principal or likely result in impairment
□ Applicable √ Inapplicable
7. Derivative investment
√ Applicable □ Inapplicable
In RMB10,000
Derivative investment operator | Relationship | Related transaction | Type | Initial amount | Start date | End date | Initial investment amount | Amount in this period | Amount sold in this period | Impairment provision (if any) | Closing investment amount | Proportion of closing investment amount in the closing net assets in the report period | Actual gain/loss in the report period |
Shanghai Futures Exchange | No | No | Shanghai aluminum | 2,535.76 | July 13, 2018 | January 31, 2020 | 2,535.76 | 13,096.92 | 12,059.39 | 3,573.29 | 0.71% | 104.64 | |
Total | 2,535.76 | -- | -- | 2,535.76 | 13,096.92 | 12,059.39 | 3,573.29 | 0.71% | 104.64 | ||||
Capital source | Self-owned fund | ||||||||||||
Lawsuit (if any) | None | ||||||||||||
Disclosure date of derivative investment approval by the Board of Directors (if any) | October 31, 2017 | ||||||||||||
Disclosure date of derivative investment approval by the Shareholders’ Meeting (if any) | None | ||||||||||||
Risk analysis and control measures for the derivative holding in the report period (including without limitation market, liquidity, credit, operation and legal risks) | To prevent the risk of fluctuation of raw material prices, the Company adopted the aluminum futures exchanged at the domestic futures exchange to provide hedging for aluminum as a raw material for the Company. The Company has set up and implemented the Provincial Regulations on China Fangda Group Domestic Futures Hedging to prevent risks. | ||||||||||||
Changes in the market price or fair | Fair value of derivatives are measured at open prices in the futures market |
value of the derivative in the report period, the analysis of the derivative’s fair value should disclose the method used and related assumptions and parameters. | |
Material changes in the accounting policies and rules related to the derivative in the report period compared to last period | None |
Opinions of independent directors on the Company’s derivative investment and risk controlling | None |
8. Reception of investigations, communications, or interviews in the reporting period
√ Applicable □ Inapplicable
Time/date | Way | Visitor | Disclosure of information |
August 28, 2019 | Onsite investigation | Institution | Investor Relationship Record Form on www.cninfo.com.cn |
9. Incompliant external guarantee
□ Applicable √ Inapplicable
The Company made no incompliant external guarantee in the report period.
10. Non-operating capital use by the controlling shareholder or related parties in thereporting term
□ Applicable √ Inapplicable
The controlling shareholder and its affiliates occupied no capital for non-operating purpose of the Company during the report period.
11. Performance of poverty relieving responsibilities
(I) As of the disclosure date of this report, the Company has donated RMB824,000 for the precision povertyalleviation project in 2019, as follows:
(1) Donated RMB100,000 to the Ganzhou Charity Federation of Jiangxi Province to fund the Ruijin City Charity Association topurchase defibrillators at the Red Spot;
(2) donated RMB20,000 to two poverty-stricken villages in Luxi County, Pingxiang City, Jiangxi Province for the construction ofpublic facilities;
(3) Donated RMB2,000 to the Social Assistance Center of Luxiang Town, Jinshan District, Shanghai for charity assistance activities.
(4) In order to help the Lianhua County of Pingxiang City, Jiangxi Province to achieve poverty alleviation, the Company donated500,000 yuan to Pingxiang City Charity Association of Jiangxi Province for the development of lily industry in Shanbei Village,Liushi Township, Lianhua County, and Tianyu Village, Fanglou Town, Lianhua County.
(5) The Company donated RMB102,500 to the Jiangxi Kaixuan Foundation to help the poor students in Suichuan county, Ji'an cityand Jiangxi province.
(6) The Company donated RMB53,000 to the elder caring activity of the Shenzhen Longgang Dakang community.
(7) The Company donated RMB30,000 to the teenagers activity of the Shenzhen Longgang Dakang community.
(8) The Company donated RMB15,000 to the poor students at Zhenglong village, Shahe county, Zhanggong district, Ganzhou city,Jiangxi province.
(9) The Company donated RMB1,500 to the CPC Shenzhen Property Management Industry Committee to purchase measureequipment for the health center in the Liangshan Yi Autonomous Prefecture, Sichuan province.(II) The Company will continue to fulfill its social responsibility for precision poverty alleviation, and makedonations from time to time based on business development.
12. Others
Real estate:
(1) Shenzhen Fangda Town Project: In the first three quarters of 2019, the Fangda Town project achieved a sales area of2,966.37 square meters and an accumulated sales area of 85,376.87 square meters.
(2) Nanchang Fangda Center Project (Fangda Center Project: The project is located in Fenghuangzhou Area, Honggutan NewDistrict, Nanchang City. Construction started in May 2018. The project covers an area of about 17,000 square meters and has a totalconstruction area of about 93,000 square meters. With a total construction area of 66,000 square meters, Jirong is a commercialcomplex covering commercial, apartment and office buildings. The project plans to start pre-sale in the early 2020 and to complete atthe end of 2020. At present, the project construction is progressing in accordance with the expected engineeringnodes.
(3) Shenzhen Fangda Bangshen Industrial Park Project: The project is located in Fuhai sub-district, Bao'an District, Shenzhen. Itcovers an area of 20,714.9 square meters and is currently an industrial plant. As of the end of the third quarter of 2019, the project hasbeen approved and established. The special planning phase has been applied for.
(4) Urban renewal project along the Dagang River in Henggang, Shenzhen: The project is located in Dakang Village, YuanshanStreet, Longgang District, Shenzhen. The area of the project to be demolished is about 80,000 square meters. The update direction ismainly residential function, and finally subject to government approval. The project work is currently being activelypromoted.
IV Financial Statements
1. Financial statements
1. Consolidated Balance Sheet
Prepared by: China Fangda Group Co., Ltd.
September 30, 2019
In RMB
Item | September 30, 2019 | December 31, 2018 |
Current asset: | ||
Monetary capital | 1,103,139,175.15 | 1,389,062,083.76 |
Settlement provision | ||
Outgoing call loan | ||
Transactional financial assets | 9,990,899.17 | |
Financial assets measured at fair value with variations accounted into current income account | ||
Derivative financial assets | 166,875.00 | |
Notes receivable | 90,091,337.35 | 140,139,692.84 |
Account receivable | 2,136,208,395.20 | 1,920,075,031.85 |
Receivable financing | ||
Prepayment | 46,395,302.30 | 46,454,844.74 |
Insurance receivable | ||
Reinsurance receivable | ||
Provisions of Reinsurance contracts receivable | ||
Other receivables | 149,672,873.43 | 139,990,188.26 |
Including: interest receivable | ||
Dividend receivable | ||
Repurchasing of financial assets | ||
Inventory | 826,209,926.06 | 651,405,832.29 |
Contract assets | ||
Assets held for sales | ||
Non-current assets due in 1 year |
Other current assets | 119,263,124.05 | 51,698,111.14 |
Total current assets | 4,481,137,907.71 | 4,338,825,784.88 |
Non-current assets: | ||
Loan and advancement provided | ||
Debt investment | ||
Sellable financial assets | 21,674,008.23 | |
Other debt investment | ||
Investment held until mature | ||
Long-term receivable | ||
Long-term share equity investment | 60,623,286.80 | 70,105,657.88 |
Investment in other equity tools | 21,674,008.23 | |
Other non-current financial assets | ||
Investment real estate | 5,287,170,813.77 | 5,256,442,406.63 |
Fixed assets | 473,321,353.16 | 455,274,241.83 |
Construction in process | 95,403,024.12 | 58,269,452.72 |
Productive biological assets | ||
Gas & petrol | ||
Use right assets | ||
Intangible assets | 79,042,376.96 | 80,313,240.67 |
R&D expense | ||
Goodwill | ||
Long-term amortizable expenses | 2,848,412.67 | 2,114,331.46 |
Deferred income tax assets | 363,287,360.68 | 356,474,925.76 |
Other non-current assets | 23,912,562.00 | 19,360,083.67 |
Total of non-current assets | 6,407,283,198.39 | 6,320,028,348.85 |
Total of assets | 10,888,421,106.10 | 10,658,854,133.73 |
Current liabilities | ||
Short-term loans | 724,000,000.00 | 208,000,000.00 |
Loans from Central Bank | ||
Call loan received | ||
Transactional financial liabilities | ||
Financial liabilities measured at fair value with variations accounted into current income account | ||
Derivative financial liabilities | 1,625,725.00 |
Notes payable | 574,310,069.62 | 507,864,518.19 |
Account payable | 942,136,009.60 | 1,039,630,798.64 |
Prepayment received | 138,808,823.95 | 278,577,848.54 |
Contract liabilities | ||
Selling of repurchased financial assets | ||
Deposit received and held for others | ||
Entrusted trading of securities | ||
Entrusted selling of securities | ||
Employees' wage payable | 24,458,669.74 | 44,513,062.17 |
Taxes payable | 20,872,749.79 | 107,709,999.19 |
Other payables | 842,141,293.22 | 813,118,699.84 |
Including: interest payable | 2,411,435.97 | 2,098,971.44 |
Dividend payable | ||
Fees and commissions payable | ||
Reinsurance fee payable | ||
Liabilities held for sales | ||
Non-current liabilities due in 1 year | 850,000,000.00 | 200,000,000.00 |
Other current liabilities | 10,048,033.18 | 9,328,682.25 |
Total current liabilities | 4,126,775,649.10 | 3,210,369,333.82 |
Non-current liabilities: | ||
Insurance contract provision | ||
Long-term loans | 599,198,144.39 | 1,193,978,153.39 |
Bond payable | ||
Including: preferred stock | ||
Perpetual bond | ||
Lease liabilities | ||
Long-term payable | ||
Long-term employees’ wage payable | ||
Anticipated liabilities | 6,012,597.12 | 6,831,162.99 |
Deferred earning | 10,879,551.33 | 10,401,161.30 |
Deferred income tax liabilities | 1,043,689,588.60 | 1,042,086,700.35 |
Other non-current liabilities | ||
Total of non-current liabilities | 1,659,779,881.44 | 2,253,297,178.03 |
Total liabilities | 5,786,555,530.54 | 5,463,666,511.85 |
Owner’s equity: | ||
Share capital | 1,123,384,189.00 | 1,155,481,686.00 |
Other equity tools | ||
Including: preferred stock | ||
Perpetual bond | ||
Capital reserves | 1,454,191.59 | 1,454,191.59 |
Less: Shares in stock | 10,831,437.66 | |
Other miscellaneous income | 3,832,489.79 | 7,382,087.59 |
Special reserves | ||
Surplus reserves | 54,042,195.07 | 120,475,221.40 |
Common risk provisions | ||
Retained profit | 3,868,770,369.15 | 3,921,225,872.96 |
Total of owner’s equity belong to the parent company | 5,051,483,434.60 | 5,195,187,621.88 |
Minor shareholders’ equity | 50,382,140.96 | |
Total of owners’ equity | 5,101,865,575.56 | 5,195,187,621.88 |
Total of liabilities and owner’s interest | 10,888,421,106.10 | 10,658,854,133.73 |
Legal representative: Xiong Jianming CFO: Lin Kebing Accounting Manager: Wu Bohua
2. Balance Sheet of the Parent Company
In RMB
Item | September 30, 2019 | December 31, 2018 |
Current asset: | ||
Monetary capital | 122,357,849.68 | 410,118,157.55 |
Transactional financial assets | ||
Financial assets measured at fair value with variations accounted into current income account | ||
Derivative financial assets | ||
Notes receivable | 200,000,000.00 | |
Account receivable | 471,039.12 |
Receivable financing | ||
Prepayment | 369,977.96 | 6,733,047.16 |
Other receivables | 2,381,200,854.60 | 822,543,653.04 |
Including: interest receivable | ||
Dividend receivable | 100,000,000.00 | |
Inventory | ||
Contract assets | ||
Assets held for sales | ||
Non-current assets due in 1 year | ||
Other current assets | 789,549.44 | 919,388.18 |
Total current assets | 2,504,718,231.68 | 1,440,785,285.05 |
Non-current assets: | ||
Debt investment | ||
Sellable financial assets | 21,674,008.23 | |
Other debt investment | ||
Investment held until mature | ||
Long-term receivable | ||
Long-term share equity investment | 1,013,339,495.35 | 983,339,494.35 |
Investment in other equity tools | 21,674,008.23 | |
Other non-current financial assets | ||
Investment real estate | 293,570,141.37 | 309,189,866.37 |
Fixed assets | 67,948,275.98 | 53,784,811.23 |
Construction in process | ||
Productive biological assets | ||
Gas & petrol | ||
Use right assets | ||
Intangible assets | 1,878,062.26 | 2,112,301.97 |
R&D expense | ||
Goodwill | ||
Long-term amortizable expenses | 707,499.62 | 917,499.68 |
Deferred income tax assets | 41,874,360.60 | 34,555,598.81 |
Other non-current assets | ||
Total of non-current assets | 1,440,991,843.41 | 1,405,573,580.64 |
Total of assets | 3,945,710,075.09 | 2,846,358,865.69 |
Current liabilities | ||
Short-term loans | 300,000,000.00 | 200,000,000.00 |
Transactional financial liabilities | ||
Financial liabilities measured at fair value with variations accounted into current income account | ||
Derivative financial liabilities | ||
Notes payable | ||
Account payable | 606,941.85 | 676,941.85 |
Prepayment received | 694,791.63 | 733,274.16 |
Contract liabilities | ||
Employees' wage payable | 1,037,729.43 | 2,145,763.39 |
Taxes payable | 1,119,390.01 | 341,004.65 |
Other payables | 545,462,539.20 | 300,006,406.51 |
Including: interest payable | 1,207,576.41 | 740,208.33 |
Dividend payable | ||
Liabilities held for sales | ||
Non-current liabilities due in 1 year | 500,000,000.00 | |
Other current liabilities | ||
Total current liabilities | 1,348,921,392.12 | 503,903,390.56 |
Non-current liabilities: | ||
Long-term loans | 90,000,000.00 | 500,000,000.00 |
Bond payable | ||
Including: preferred stock | ||
Perpetual bond | ||
Lease liabilities | ||
Long-term payable | ||
Long-term employees’ wage payable | ||
Anticipated liabilities | ||
Deferred earning | ||
Deferred income tax liabilities | 63,979,716.40 | 64,130,617.41 |
Other non-current liabilities | ||
Total of non-current liabilities | 153,979,716.40 | 564,130,617.41 |
Total liabilities | 1,502,901,108.52 | 1,068,034,007.97 |
Owner’s equity: | ||
Share capital | 1,123,384,189.00 | 1,155,481,686.00 |
Other equity tools | ||
Including: preferred stock | ||
Perpetual bond | ||
Capital reserves | 360,835.52 | 360,835.52 |
Less: Shares in stock | 10,831,437.66 | |
Other miscellaneous income | 3,590,127.88 | 8,756,553.46 |
Special reserves | ||
Surplus reserves | 54,042,195.07 | 120,475,221.40 |
Retained profit | 1,261,431,619.10 | 504,081,999.00 |
Total of owners’ equity | 2,442,808,966.57 | 1,778,324,857.72 |
Total of liabilities and owner’s interest | 3,945,710,075.09 | 2,846,358,865.69 |
3. Consolidated Income Statement of the Report Period
In RMB
Item | Amount occurred in the current period | Occurred in previous period |
1. Total revenue | 699,243,342.82 | 793,250,321.93 |
Incl. Business income | 699,243,342.82 | 793,250,321.93 |
Interest income | ||
Insurance fee earned | ||
Fee and commission received | ||
2. Total business cost | 666,684,444.58 | 674,600,862.14 |
Incl. Business cost | 562,481,963.87 | 568,150,146.71 |
Interest expense | ||
Fee and commission paid | ||
Insurance discharge payment | ||
Net claim amount paid | ||
Net insurance policy responsibility reserves provided | ||
Insurance policy dividend paid | ||
Reinsurance expenses |
Taxes and surcharges | 6,268,346.04 | 37,823,332.32 |
Sales expense | 13,562,766.99 | 10,702,477.61 |
Administrative expense | 37,409,946.41 | 37,002,879.24 |
R&D cost | 20,460,675.32 | 3,572,516.18 |
Financial expenses | 26,500,745.95 | 17,349,510.08 |
Including: interest cost | 23,424,082.73 | 25,702,800.18 |
Interest income | 1,208,273.71 | 3,207,162.41 |
Add: other gains | 2,131,742.20 | 1,058,639.79 |
Investment gains (“-” for loss) | 2,107,033.94 | 31,632,282.15 |
Incl. Investment gains from affiliates and joint ventures | -156,637.53 | -159,703.29 |
Financial assets derecognised as a result of amortized cost | ||
Exchange gains ("-" for loss) | ||
Net open hedge gains (“-” for loss) | ||
Gains from change of fair value (“-“ for loss) | -121,506.67 | -25,429,705.00 |
Credit impairment ("-" for loss) | -18,366,483.61 | |
Investment impairment loss ("-" for loss) | -11,717,054.18 | |
Investment gains ("-" for loss) | -8,050.57 | -1,981,867.64 |
3. Operational profit ("-" for loss) | 18,301,633.53 | 112,211,754.91 |
Plus: non-operational income | 1,061,813.66 | 464,154.45 |
Less: non-operational expenditure | 953,272.75 | 167,066.97 |
4. Gross profit ("-" for loss) | 18,410,174.44 | 112,508,842.39 |
Less: Income tax expenses | -9,094,691.37 | 21,170,497.50 |
5. Net profit ("-" for net loss) | 27,504,865.81 | 91,338,344.89 |
(1) By operating consistency | ||
1. Net profit from continuous operation ("-" for net loss) | 27,504,865.81 | 91,338,344.89 |
2. Net profit from discontinuous operation ("-" for net loss) | ||
(2) By ownership | ||
1. Net profit attributable to the owners of parent company | 27,468,258.38 | 91,338,344.89 |
2. Minor shareholders’ equity | 36,607.43 | |
6. After-tax net amount of other misc. incomes | 227,053.45 | 1,286,962.78 |
After-tax net amount of other misc. incomes attributed to parent's owner | 227,053.45 | 1,286,962.78 |
(1) Other misc. incomes that cannot be re-classified into gain and loss | ||
1. Re-measure the change in the defined benefit plan | ||
2. Other comprehensive income that cannot be transferred to profit or loss under the equity method | ||
3. Fair value change of investment in other equity tools | ||
4. Fair value change of the company's credit risk | ||
5. Others | ||
(2) Other misc. incomes that will be re-classified into gain and loss | 227,053.45 | 1,286,962.78 |
1. Other comprehensive income that can be transferred to profit or loss under the equity method | ||
2. Fair value change of other debt investment | ||
3. Change in the fair value of financial asset for sale | ||
4. Gains and losses from changes in fair value of available-for-sale financial assets | ||
5. Held-to-mature investment reclassified as gain and loss in the financial assets for sales | ||
6. Other credit investment credit impairment provisions | ||
7. Cash flow hedge reserve | 127,075.00 | 1,232,080.00 |
8. Translation difference of foreign exchange statement | 99,978.45 | 54,882.78 |
9. Others |
After-tax net of other misc. income attributed to minority shareholders | ||
7. Total of misc. incomes | 27,731,919.26 | 92,625,307.67 |
Total of misc. incomes attributable to the owners of the parent company | 27,695,311.83 | 92,625,307.67 |
Total misc gains attributable to the minor shareholders | 36,607.43 | |
8. Earnings per share: | ||
(1) Basic earnings per share | 0.02 | 0.08 |
(2) Diluted earnings per share | 0.02 | 0.08 |
Net profit contributed by entities merged under common control in the report period was RMB0.00, net profit realized by partiesmerged during the previous period is RMB0.00.Legal representative: Xiong Jianming CFO: Lin Kebing Accounting Manager: Wu Bohua
4. Consolidated Income Statement of the Report Period
In RMB
Item | Amount occurred in the current period | Occurred in previous period |
1. Turnover | 7,375,435.58 | 7,795,537.50 |
Less: Operation cost | 106,833.17 | 559,020.48 |
Taxes and surcharges | 323,375.21 | 324,914.12 |
Sales expense | 0.00 | |
Administrative expense | 5,985,937.55 | 5,790,565.51 |
R&D cost | 0.00 | |
Financial expenses | 12,747,466.71 | 9,138,885.73 |
Including: interest cost | 11,186,191.67 | 9,896,208.34 |
Interest income | 72,058.89 | 408,881.16 |
Add: other gains | 73,719.18 | |
Investment gains (“-” for loss) | 1,000,481,381.24 | 11,500,427.84 |
Incl. Investment gains from affiliates and joint ventures | 0.00 | |
Financial assets derecognised as a result of amortized cost | ||
Net open hedge gains (“-” for loss) |
Gains from change of fair value (“-“ for loss) | 0.00 | -10,171,856.57 |
Credit impairment ("-" for loss) | 1,191.25 | |
Investment impairment loss ("-" for loss) | 0.00 | 17,615.04 |
Investment gains ("-" for loss) | 0.00 | -55,328.84 |
2. Operational profit (“-” for loss) | 988,768,114.61 | -6,726,990.87 |
Plus: non-operational income | 0.00 | 2,500.00 |
Less: non-operational expenditure | 607,774.57 | 5,494.62 |
3. Gross profit (“-” for loss) | 988,160,340.04 | -6,729,985.49 |
Less: Income tax expenses | -2,951,715.89 | |
4. Net profit (“-” for net loss) | 991,112,055.93 | -6,729,985.49 |
(1) Net profit from continuous operation ("-" for net loss) | 991,112,055.93 | -6,729,985.49 |
(2) Net profit from discontinuous operation ("-" for net loss) | 0.00 | |
5. After-tax net amount of other misc. incomes | ||
(1) Other misc. incomes that cannot be re-classified into gain and loss | ||
1. Re-measure the change in the defined benefit plan | ||
2. Other comprehensive income that cannot be transferred to profit or loss under the equity method | ||
3. Fair value change of investment in other equity tools | ||
4. Fair value change of the company's credit risk | ||
5. Others | ||
(2) Other misc. incomes that will be re-classified into gain and loss | ||
1. Other comprehensive income that can be transferred to profit or loss under the equity method | ||
2. Fair value change of |
other debt investment | ||
3. Change in the fair value of financial asset for sale | ||
4. Gains and losses from changes in fair value of available-for-sale financial assets | ||
5. Held-to-mature investment reclassified as gain and loss in the financial assets for sales | ||
6. Other credit investment credit impairment provisions | ||
7. Cash flow hedge reserve | ||
8. Translation difference of foreign exchange statement | ||
9. Others | ||
6. Total of misc. incomes | 991,112,055.93 | -6,729,985.49 |
7. Earnings per share: | ||
(1) Basic earnings per share | ||
(2) Diluted earnings per share |
5. Consolidated Income Statement Between the Beginning of the Year and End of the Report Period
In RMB
Item | Amount occurred in the current period | Occurred in previous period |
1. Total revenue | 2,125,134,289.81 | 2,235,301,218.46 |
Incl. Business income | 2,125,134,289.81 | 2,235,301,218.46 |
Interest income | ||
Insurance fee earned | ||
Fee and commission received | ||
2. Total business cost | 1,948,269,844.75 | 1,846,658,281.62 |
Incl. Business cost | 1,628,547,934.43 | 1,503,636,322.43 |
Interest expense | ||
Fee and commission paid | ||
Insurance discharge payment | ||
Net claim amount paid | ||
Net insurance policy |
responsibility reserves provided | ||
Insurance policy dividend paid | ||
Reinsurance expenses | ||
Taxes and surcharges | 47,749,346.11 | 139,027,527.35 |
Sales expense | 40,738,405.49 | 37,762,618.85 |
Administrative expense | 120,088,723.97 | 103,542,065.13 |
R&D cost | 35,163,348.44 | 11,567,916.09 |
Financial expenses | 75,982,086.31 | 51,121,831.76 |
Including: interest cost | 63,900,969.21 | 56,940,394.38 |
Interest income | 3,647,364.62 | 6,869,263.66 |
Add: other gains | 6,133,192.71 | 3,757,831.37 |
Investment gains (“-” for loss) | 6,163,431.10 | 57,877,044.56 |
Incl. Investment gains from affiliates and joint ventures | -482,371.08 | -1,230,704.06 |
Financial assets derecognised as a result of amortized cost | ||
Exchange gains ("-" for loss) | ||
Net open hedge gains (“-” for loss) | ||
Gains from change of fair value (“-“ for loss) | -34,326,342.25 | |
Credit impairment ("-" for loss) | -22,736,143.99 | |
Investment impairment loss ("-" for loss) | -13,572,017.23 | |
Investment gains ("-" for loss) | -35,159.35 | -3,533,733.22 |
3. Operational profit ("-" for loss) | 166,389,765.53 | 398,845,720.07 |
Plus: non-operational income | 5,935,705.81 | 7,530,192.86 |
Less: non-operational expenditure | 1,331,838.55 | 689,227.40 |
4. Gross profit ("-" for loss) | 170,993,632.79 | 405,686,685.53 |
Less: Income tax expenses | 14,924,568.34 | 84,216,677.45 |
5. Net profit ("-" for net loss) | 156,069,064.45 | 321,470,008.08 |
(1) By operating consistency | ||
1. Net profit from continuous operation ("-" for net loss) | 156,075,582.20 | 321,470,008.08 |
2. Net profit from discontinuous | -6,517.75 |
operation ("-" for net loss) | ||
(2) By ownership | ||
1. Net profit attributable to the owners of parent company | 156,050,013.39 | 321,470,008.08 |
2. Minor shareholders’ equity | 19,051.06 | |
6. After-tax net amount of other misc. incomes | 1,616,827.78 | -592,793.39 |
After-tax net amount of other misc. incomes attributed to parent's owner | 1,616,827.78 | -592,793.39 |
(1) Other misc. incomes that cannot be re-classified into gain and loss | ||
1. Re-measure the change in the defined benefit plan | ||
2. Other comprehensive income that cannot be transferred to profit or loss under the equity method | ||
3. Fair value change of investment in other equity tools | ||
4. Fair value change of the company's credit risk | ||
5. Others | ||
(2) Other misc. incomes that will be re-classified into gain and loss | 1,616,827.78 | -592,793.39 |
1. Other comprehensive income that can be transferred to profit or loss under the equity method | ||
2. Fair value change of other debt investment | ||
3. Change in the fair value of financial asset for sale | ||
4. Gains and losses from changes in fair value of available-for-sale financial assets | ||
5. Held-to-mature investment reclassified as gain and loss in the financial assets for sales | ||
6. Other credit investment credit impairment provisions | ||
7. Cash flow hedge reserve | 1,523,710.00 | -606,921.25 |
8. Translation difference of foreign exchange statement | 93,117.78 | 14,127.86 |
9. Others | ||
After-tax net of other misc. income attributed to minority shareholders | ||
7. Total of misc. incomes | 157,685,892.23 | 320,877,214.69 |
Total of misc. incomes attributable to the owners of the parent company | 157,666,841.17 | 320,877,214.69 |
Total misc gains attributable to the minor shareholders | 19,051.06 | |
8. Earnings per share: | ||
(1) Basic earnings per share | 0.14 | 0.28 |
(2) Diluted earnings per share | 0.14 | 0.28 |
Net profit contributed by entities merged under common control in the report period was RMB0.00, net profit realized by partiesmerged during the previous period is RMB0.00.Legal representative: Xiong Jianming CFO: Lin Kebing Accounting Manager: Wu Bohua
6. Income Statement of the Parent Between the Beginning of the Year and to of the Report Period
In RMB
Item | Amount occurred in the current period | Occurred in previous period |
1. Turnover | 24,517,458.46 | 22,907,827.70 |
Less: Operation cost | 3,603,421.23 | 1,232,598.73 |
Taxes and surcharges | 969,078.70 | 975,716.94 |
Sales expense | ||
Administrative expense | 17,272,507.40 | 15,924,036.36 |
R&D cost | ||
Financial expenses | 34,116,846.72 | 16,687,577.76 |
Including: interest cost | 28,509,177.79 | 18,446,237.53 |
Interest income | 423,187.78 | 1,990,291.21 |
Add: other gains | 307,786.17 | 114,556.59 |
Investment gains (“-” for loss) | 1,001,636,564.66 | 19,638,911.06 |
Incl. Investment gains from affiliates and joint ventures | ||
Financial assets derecognised as a result of amortized |
cost | ||
Net open hedge gains (“-” for loss) | ||
Gains from change of fair value (“-“ for loss) | -13,600,985.30 | |
Credit impairment ("-" for loss) | 5,923.64 | |
Investment impairment loss ("-" for loss) | -81,061.84 | |
Investment gains ("-" for loss) | -55,902.90 | |
2. Operational profit (“-” for loss) | 970,505,878.88 | -5,896,584.48 |
Plus: non-operational income | 13,947.68 | 261,144.66 |
Less: non-operational expenditure | 714,163.21 | 6,232.62 |
3. Gross profit (“-” for loss) | 969,805,663.35 | -5,641,672.44 |
Less: Income tax expenses | -7,497,054.35 | 1,531,510.40 |
4. Net profit (“-” for net loss) | 977,302,717.70 | -7,173,182.84 |
(1) Net profit from continuous operation ("-" for net loss) | 977,302,717.70 | -7,173,182.84 |
(2) Net profit from discontinuous operation ("-" for net loss) | ||
5. After-tax net amount of other misc. incomes | ||
(1) Other misc. incomes that cannot be re-classified into gain and loss | ||
1. Re-measure the change in the defined benefit plan | ||
2. Other comprehensive income that cannot be transferred to profit or loss under the equity method | ||
3. Fair value change of investment in other equity tools | ||
4. Fair value change of the company's credit risk | ||
5. Others | ||
(2) Other misc. incomes that will be re-classified into gain and loss | ||
1. Other comprehensive |
income that can be transferred to profit or loss under the equity method | ||
2. Fair value change of other debt investment | ||
3. Change in the fair value of financial asset for sale | ||
4. Gains and losses from changes in fair value of available-for-sale financial assets | ||
5. Held-to-mature investment reclassified as gain and loss in the financial assets for sales | ||
6. Other credit investment credit impairment provisions | ||
7. Cash flow hedge reserve | ||
8. Translation difference of foreign exchange statement | ||
9. Others | ||
6. Total of misc. incomes | 977,302,717.70 | -7,173,182.84 |
7. Earnings per share: | ||
(1) Basic earnings per share | ||
(2) Diluted earnings per share |
7. Consolidated Cash Flow Statement Between the Beginning of the Year and End of the Report Period
In RMB
Item | Amount occurred in the current period | Occurred in previous period |
1. Net cash flow from business operations: | ||
Cash received from sales of products and providing of services | 1,891,062,422.83 | 2,207,987,021.72 |
Net increase of customer deposits and capital kept for brother company | ||
Net increase of loans from central bank | ||
Net increase of inter-bank loans from other financial bodies | ||
Cash received against original |
insurance contract | ||
Net cash received from reinsurance business | ||
Net increase of client deposit and investment | ||
Cash received as interest, processing fee, and commission | ||
Net increase of inter-bank fund received | ||
Net increase of repurchasing business | ||
Net cash received from trading securities | ||
Tax refunded | 3,159,514.49 | 4,988,463.29 |
Other cash received from business operation | 79,255,080.98 | 292,273,568.66 |
Sub-total of cash inflow from business operations | 1,973,477,018.30 | 2,505,249,053.67 |
Cash paid for purchasing products and services | 1,499,926,065.43 | 1,429,144,992.91 |
Net increase of client trade and advance | ||
Net increase of savings in central bank and brother company | ||
Cash paid for original contract claim | ||
Net increase in funds dismantled | ||
Cash paid for interest, processing fee and commission | ||
Cash paid for policy dividend | ||
Cash paid to and for the staff | 237,800,254.07 | 210,878,995.88 |
Taxes paid | 211,775,200.67 | 272,518,173.65 |
Other cash paid for business activities | 432,430,889.07 | 480,094,332.49 |
Sub-total of cash outflow from business operations | 2,381,932,409.24 | 2,392,636,494.93 |
Cash flow generated by business operations, net | -408,455,390.94 | 112,612,558.74 |
2. Cash flow generated by investment: | ||
Cash received from investment recovery | 4,552,412,407.01 | 6,215,580,000.00 |
Cash received as investment profit | 57,732,090.85 | 64,596,027.07 |
Net cash retrieved from disposal of fixed assets, intangible assets, and other long-term assets | 13,225,319.48 | 16,523,904.33 |
Net cash received from disposal of subsidiaries or other operational units | ||
Other investment-related cash received | ||
Sub-total of cash inflow generated from investment | 4,623,369,817.34 | 6,296,699,931.40 |
Cash paid for construction of fixed assets, intangible assets and other long-term assets | 138,895,689.84 | 49,609,863.23 |
Cash paid as investment | 4,821,419,000.00 | 6,155,986,395.83 |
Net increase of loan against pledge | ||
Net cash paid for acquiring subsidiaries and other operational units | 61,934,830.31 | |
Other cash paid for investment | ||
Subtotal of cash outflows | 5,022,249,520.15 | 6,205,596,259.06 |
Cash flow generated by investment activities, net | -398,879,702.81 | 91,103,672.34 |
3. Cash flow generated by financing activities: | ||
Cash received from investment | ||
Incl. Cash received from investment attracted by subsidiaries from minority shareholders | ||
Cash received from borrowed loans | 939,219,991.00 | 708,000,000.00 |
Other cash received from financing activities | 39,406.61 | |
Subtotal of cash inflow from financing activities | 939,259,397.61 | 708,000,000.00 |
Cash paid to repay debts | 368,000,000.00 | 780,577,298.43 |
Cash paid as dividend, profit, or | 299,128,516.71 | 258,660,130.40 |
interests | ||
Incl. Dividend and profit paid by subsidiaries to minority shareholders | ||
Other cash paid for financing activities | 40,000,000.00 | 99,804,777.52 |
Subtotal of cash outflow from financing activities | 707,128,516.71 | 1,139,042,206.35 |
Net cash flow generated by financing activities | 232,130,880.90 | -431,042,206.35 |
4. Influence of exchange rate changes on cash and cash equivalents | 506,834.88 | 3,084,851.98 |
5. Net increase in cash and cash equivalents | -574,697,377.97 | -224,241,123.29 |
Plus: Balance of cash and cash equivalents at the beginning of term | 956,190,890.68 | 931,285,535.55 |
6. Balance of cash and cash equivalents at the end of the period | 381,493,512.71 | 707,044,412.26 |
8. Cash Flow Statement of the Parent Between the Beginning of the Year and End of the Report Period
In RMB
Item | Amount occurred in the current period | Occurred in previous period |
1. Net cash flow from business operations: | ||
Cash received from sales of products and providing of services | 19,933,171.21 | 153,999,350.74 |
Tax refunded | ||
Other cash received from business operation | 2,110,545,435.02 | 1,409,325,820.93 |
Sub-total of cash inflow from business operations | 2,130,478,606.23 | 1,563,325,171.67 |
Cash paid for purchasing products and services | 2,295,025.64 | 1,250,558.30 |
Cash paid to and for the staff | 12,369,917.61 | 10,320,094.96 |
Taxes paid | 1,788,240.77 | 19,134,230.81 |
Other cash paid for business activities | 3,522,929,091.82 | 1,684,835,834.03 |
Sub-total of cash outflow from business | 3,539,382,275.84 | 1,715,540,718.10 |
operations | ||
Cash flow generated by business operations, net | -1,408,903,669.61 | -152,215,546.43 |
2. Cash flow generated by investment: | ||
Cash received from investment recovery | 1,805,000,000.00 | 2,273,880,000.00 |
Cash received as investment profit | 1,101,636,564.66 | 20,659,911.06 |
Net cash retrieved from disposal of fixed assets, intangible assets, and other long-term assets | 5,000.00 | |
Net cash received from disposal of subsidiaries or other operational units | 10,000,000.00 | |
Other investment-related cash received | ||
Sub-total of cash inflow generated from investment | 2,906,636,564.66 | 2,304,544,911.06 |
Cash paid for construction of fixed assets, intangible assets and other long-term assets | 52,697.00 | 576,678.00 |
Cash paid as investment | 1,835,000,001.00 | 2,321,870,000.00 |
Net cash paid for acquiring subsidiaries and other operational units | ||
Other cash paid for investment | ||
Subtotal of cash outflows | 1,835,052,698.00 | 2,322,446,678.00 |
Cash flow generated by investment activities, net | 1,071,583,866.66 | -17,901,766.94 |
3. Cash flow generated by financing activities: | ||
Cash received from investment | ||
Cash received from borrowed loans | 400,000,000.00 | 700,000,000.00 |
Other cash received from financing activities | 39,406.61 | |
Subtotal of cash inflow from financing activities | 400,039,406.61 | 700,000,000.00 |
Cash paid to repay debts | 10,000,000.00 | 250,000,000.00 |
Cash paid as dividend, profit, or interests | 252,206,781.54 | 199,919,295.82 |
Other cash paid for financing activities | 99,804,777.52 | |
Subtotal of cash outflow from financing activities | 262,206,781.54 | 549,724,073.34 |
Net cash flow generated by financing activities | 137,832,625.07 | 150,275,926.66 |
4. Influence of exchange rate changes on cash and cash equivalents | 405.76 | -169,472.11 |
5. Net increase in cash and cash equivalents | -199,486,772.12 | -20,010,858.82 |
Plus: Balance of cash and cash equivalents at the beginning of term | 281,594,621.80 | 310,049,329.68 |
6. Balance of cash and cash equivalents at the end of the period | 82,107,849.68 | 290,038,470.86 |
II. Financial Statement Adjustment
1. The first implementation of the new financial instruments guidelines, new income standards, new leasestandards, adjustments the first implementation of the financial statements at the beginning of the year
√ Applicable □ Inapplicable
Consolidated Balance Sheet
In RMB
Item | December 31, 2018 | January 1, 2019 | Adjustment |
Current asset: | |||
Monetary capital | 1,389,062,083.76 | 1,389,062,083.76 | |
Settlement provision | |||
Outgoing call loan | |||
Transactional financial assets | |||
Financial assets measured at fair value with variations accounted into current income account | |||
Derivative financial assets | |||
Notes receivable | 140,139,692.84 | 140,139,692.84 | |
Account receivable | 1,920,075,031.85 | 1,932,765,689.04 | 12,690,657.19 |
Receivable financing |
Prepayment | 46,454,844.74 | 46,454,844.74 | |
Insurance receivable | |||
Reinsurance receivable | |||
Provisions of Reinsurance contracts receivable | |||
Other receivables | 139,990,188.26 | 142,135,200.55 | 2,145,012.29 |
Including: interest receivable | |||
Dividend receivable | |||
Repurchasing of financial assets | |||
Inventory | 651,405,832.29 | 651,405,832.29 | |
Contract assets | |||
Assets held for sales | |||
Non-current assets due in 1 year | |||
Other current assets | 51,698,111.14 | 51,698,111.14 | |
Total current assets | 4,338,825,784.88 | 4,353,661,454.36 | 14,835,669.48 |
Non-current assets: | |||
Loan and advancement provided | |||
Debt investment | |||
Sellable financial assets | 21,674,008.23 | -21,674,008.23 | |
Other debt investment | |||
Investment held until mature | |||
Long-term receivable | |||
Long-term share equity investment | 70,105,657.88 | 70,105,657.88 | |
Investment in other equity tools | 21,674,008.23 | 21,674,008.23 | |
Other non-current financial assets | |||
Investment real estate | 5,256,442,406.63 | 5,230,896,067.50 | |
Fixed assets | 455,274,241.83 | 455,274,241.83 |
Construction in process | 58,269,452.72 | 58,269,452.72 | |
Productive biological assets | |||
Gas & petrol | |||
Use right assets | |||
Intangible assets | 80,313,240.67 | 80,313,240.67 | |
R&D expense | |||
Goodwill | |||
Long-term amortizable expenses | 2,114,331.46 | 2,114,331.46 | |
Deferred income tax assets | 356,474,925.76 | 356,474,925.76 | -3,305,914.45 |
Other non-current assets | 19,360,083.67 | 19,360,083.67 | |
Total of non-current assets | 6,320,028,348.85 | 6,316,722,434.40 | -3,305,914.45 |
Total of assets | 10,658,854,133.73 | 10,670,383,888.76 | 11,529,755.03 |
Current liabilities | |||
Short-term loans | 208,000,000.00 | 208,000,000.00 | |
Loans from Central Bank | |||
Call loan received | |||
Transactional financial liabilities | |||
Financial liabilities measured at fair value with variations accounted into current income account | |||
Derivative financial liabilities | 1,625,725.00 | 1,625,725.00 | |
Notes payable | 507,864,518.19 | 507,864,518.19 | |
Account payable | 1,039,630,798.64 | 1,039,630,798.64 | |
Prepayment received | 278,577,848.54 | 278,577,848.54 | |
Contract liabilities | |||
Selling of repurchased financial assets | |||
Deposit received and held for others | |||
Entrusted trading of |
securities | |||
Entrusted selling of securities | |||
Employees' wage payable | 44,513,062.17 | 44,513,062.17 | |
Taxes payable | 107,709,999.19 | 107,709,999.19 | |
Other payables | 813,118,699.84 | 813,118,699.84 | |
Including: interest payable | 2,098,971.44 | 2,098,971.44 | |
Dividend payable | |||
Fees and commissions payable | |||
Reinsurance fee payable | |||
Liabilities held for sales | |||
Non-current liabilities due in 1 year | 200,000,000.00 | 200,000,000.00 | |
Other current liabilities | 9,328,682.25 | 9,328,682.25 | |
Total current liabilities | 3,210,369,333.82 | 3,210,369,333.82 | |
Non-current liabilities: | |||
Insurance contract provision | |||
Long-term loans | 1,193,978,153.39 | 1,193,978,153.39 | |
Bond payable | |||
Including: preferred stock | |||
Perpetual bond | |||
Lease liabilities | |||
Long-term payable | |||
Long-term employees’ wage payable | |||
Anticipated liabilities | 6,831,162.99 | 6,831,162.99 | |
Deferred earning | 10,401,161.30 | 10,401,161.30 | |
Deferred income tax liabilities | 1,042,086,700.35 | 1,042,086,700.35 | |
Other non-current |
liabilities | |||
Total of non-current liabilities | 2,253,297,178.03 | 2,253,297,178.03 | |
Total liabilities | 5,463,666,511.85 | 5,463,666,511.85 | |
Owner’s equity: | |||
Share capital | 1,155,481,686.00 | 1,155,481,686.00 | |
Other equity tools | |||
Including: preferred stock | |||
Perpetual bond | |||
Capital reserves | 1,454,191.59 | 1,454,191.59 | |
Less: Shares in stock | 10,831,437.66 | 10,831,437.66 | |
Other miscellaneous income | 7,382,087.59 | 2,215,662.01 | -5,166,425.58 |
Special reserves | |||
Surplus reserves | 120,475,221.40 | 121,000,081.43 | 524,860.03 |
Common risk provisions | |||
Retained profit | 3,921,225,872.96 | 3,937,397,193.54 | 16,171,320.58 |
Total of owner’s equity belong to the parent company | 5,195,187,621.88 | 5,206,717,376.91 | 11,529,755.03 |
Minor shareholders’ equity | |||
Total of owners’ equity | 5,195,187,621.88 | 5,206,717,376.91 | 11,529,755.03 |
Total of liabilities and owner’s interest | 10,658,854,133.73 | 10,670,383,888.76 | 11,529,755.03 |
About the adjustment
In 2017, the Ministry of Finance revised and released the "Accounting Standards for Business Enterprises No. 22 - Recognitionand Measurement of Financial Instruments", "Accounting Standards for Business Enterprises No. 23 - Transfer of Financial Assets","Accounting Standards for Business Enterprises No. 24 - Hedge Accounting" "Accounting Standards for Business Enterprises No. 37- Financial Instruments Presentation" (hereinafter collectively referred to as the "New Financial Instruments Standards"), and requiresenterprises listed in China to implement the above accounting standards from January 1, 2019.In accordance with the above requirements, the Company will implement the new financial instrument standard from January 1,2019 and reclassify the original financial assets into transactional financial assets, derivative financial assets, other equity instrumentinvestments and other non-current financial assets. Non-transaction equity instrument investment is designated as financial assetsmeasured at fair value through other comprehensive income and is presented in “other equity instrument investment” items. At thesame time, the loss provision prepared by the original financial instrument standard is adjusted to be in accordance with the newfinancial instrument. According to the regulations, it is not necessary to repeat the data of the 2018 comparative period whenpreparing the report for each period of 2019, but it is necessary to make retrospective adjustments to the retained earnings or other
comprehensive income at the beginning of 2019.
Balance Sheet of the Parent Company
In RMB
Item | December 31, 2018 | January 1, 2019 | Adjustment |
Current asset: | |||
Monetary capital | 410,118,157.55 | 410,118,157.55 | |
Transactional financial assets | |||
Financial assets measured at fair value with variations accounted into current income account | |||
Derivative financial assets | |||
Notes receivable | 200,000,000.00 | 200,000,000.00 | |
Account receivable | 471,039.12 | 471,039.12 | 8,595.25 |
Receivable financing | |||
Prepayment | 6,733,047.16 | 6,733,047.16 | |
Other receivables | 822,543,653.04 | 822,543,653.04 | 100,970.95 |
Including: interest receivable | |||
Dividend receivable | 100,000,000.00 | 100,000,000.00 | |
Inventory | |||
Contract assets | |||
Assets held for sales | |||
Non-current assets due in 1 year | |||
Other current assets | 919,388.18 | 919,388.18 | |
Total current assets | 1,440,785,285.05 | 1,440,894,851.25 | 109,566.20 |
Non-current assets: | |||
Debt investment | |||
Sellable financial assets | 21,674,008.23 | -21,674,008.23 | |
Other debt investment | |||
Investment held until mature |
Long-term receivable | |||
Long-term share equity investment | 983,339,494.35 | 983,339,494.35 | |
Investment in other equity tools | 21,674,008.23 | 21,674,008.23 | |
Other non-current financial assets | |||
Investment real estate | 309,189,866.37 | 309,189,866.37 | |
Fixed assets | 53,784,811.23 | 53,784,811.23 | |
Construction in process | |||
Productive biological assets | |||
Gas & petrol | |||
Use right assets | |||
Intangible assets | 2,112,301.97 | 2,112,301.97 | |
R&D expense | |||
Goodwill | |||
Long-term amortizable expenses | 917,499.68 | 917,499.68 | |
Deferred income tax assets | 34,555,598.81 | 34,528,207.26 | -27,391.55 |
Other non-current assets | |||
Total of non-current assets | 1,405,573,580.64 | 1,405,546,189.09 | -27,391.55 |
Total of assets | 2,846,358,865.69 | 2,846,441,040.34 | 82,174.65 |
Current liabilities | |||
Short-term loans | 200,000,000.00 | 200,000,000.00 | |
Transactional financial liabilities | |||
Financial liabilities measured at fair value with variations accounted into current income account | |||
Derivative financial liabilities | |||
Notes payable | |||
Account payable | 676,941.85 | 676,941.85 | |
Prepayment received | 733,274.16 | 733,274.16 |
Contract liabilities | |||
Employees' wage payable | 2,145,763.39 | 2,145,763.39 | |
Taxes payable | 341,004.65 | 341,004.65 | |
Other payables | 300,006,406.51 | 300,006,406.51 | |
Including: interest payable | 740,208.33 | 740,208.33 | |
Dividend payable | |||
Liabilities held for sales | |||
Non-current liabilities due in 1 year | |||
Other current liabilities | |||
Total current liabilities | 503,903,390.56 | 503,903,390.56 | |
Non-current liabilities: | |||
Long-term loans | 500,000,000.00 | 500,000,000.00 | |
Bond payable | |||
Including: preferred stock | |||
Perpetual bond | |||
Lease liabilities | |||
Long-term payable | |||
Long-term employees’ wage payable | |||
Anticipated liabilities | |||
Deferred earning | |||
Deferred income tax liabilities | 64,130,617.41 | 64,130,617.41 | |
Other non-current liabilities | |||
Total of non-current liabilities | 564,130,617.41 | 564,130,617.41 | |
Total liabilities | 1,068,034,007.97 | 1,068,034,007.97 | |
Owner’s equity: | |||
Share capital | 1,155,481,686.00 | 1,155,481,686.00 |
Other equity tools | |||
Including: preferred stock | |||
Perpetual bond | |||
Capital reserves | 360,835.52 | 360,835.52 | |
Less: Shares in stock | 10,831,437.66 | 10,831,437.66 | |
Other miscellaneous income | 8,756,553.46 | 3,590,127.88 | -5,166,425.58 |
Special reserves | |||
Surplus reserves | 120,475,221.40 | 121,000,081.43 | 524,860.03 |
Retained profit | 504,081,999.00 | 508,805,739.20 | 4,723,740.20 |
Total of owners’ equity | 1,778,324,857.72 | 1,778,407,032.37 | 82,174.65 |
Total of liabilities and owner’s interest | 2,846,358,865.69 | 2,846,441,040.34 | 82,174.65 |
About the adjustmentIn 2017, the Ministry of Finance revised and released the "Accounting Standards for Business Enterprises No. 22 - Recognitionand Measurement of Financial Instruments", "Accounting Standards for Business Enterprises No. 23 - Transfer of Financial Assets","Accounting Standards for Business Enterprises No. 24 - Hedge Accounting" "Accounting Standards for Business Enterprises No. 37- Financial Instruments Presentation" (hereinafter collectively referred to as the "New Financial Instruments Standards"), and requiresenterprises listed in China to implement the above accounting standards from January 1, 2019.In accordance with the above requirements, the Company will implement the new financial instrument standard from January 1,2019 and reclassify the original financial assets into transactional financial assets, derivative financial assets, other equity instrumentinvestments and other non-current financial assets. Non-transaction equity instrument investment is designated as financial assetsmeasured at fair value through other comprehensive income and is presented in “other equity instrument investment” items. At thesame time, the loss provision prepared by the original financial instrument standard is adjusted to be in accordance with the newfinancial instrument. According to the regulations, it is not necessary to repeat the data of the 2018 comparative period whenpreparing the report for each period of 2019, but it is necessary to make retrospective adjustments to the retained earnings or othercomprehensive income at the beginning of 2019.
2. Description of the 2019 implementation of the new financial instrument criteria, new lease standardretrospective adjustment of the previous period comparison data
□ Applicable √ Inapplicable
3. Auditor’s Report
Whether the Q3 report is audited
□ Yes √ No
The Q3 Report is not audited.