China Fangda Group Co. Ltd.
2021 First Quarter Report
April 2021
I Important Statement
The members of the Board and the Company guarantee that the quarterly
report is free from any false information misleading statement or material
omission 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 which
this report was examined.Mr. Xiong Jianming the Chairman of Board Mr. Lin Kebin the Chief
Financial Officer and Mr. Wu Bohua the manager of accounting department
declare: 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
This report period Same period last year Year-on-year change (%)
Turnover (yuan) 643347177.89 413826888.79 55.46%
Net profit attributable to shareholders of
the listed company (yuan)
75153468.91 94777419.75 -20.71%
Net profit attributable to the shareholders
of the listed company and after deducting
of non-recurring gain/loss (yuan)
58982525.69 95563557.35 -38.28%
Net cash flow generated by business
operation (yuan)
-423296463.74 -339105046.99 -24.83%
Basic earnings per share (yuan/share) 0.07 0.08 -12.50%
Diluted Earnings per share (yuan/share) 0.07 0.08 -12.50%
Weighted average net income/asset ratio 1.39% 1.81% -0.42%
End of the report period End of last year Year-on-year change
Total asset (yuan) 11298662748.85 11866857250.39 -4.79%
Net profit attributable to the shareholders
of the listed company (RMB)
5456823373.42 5380857155.39 1.41%
The operating income for the current period increased by 55.46% over the same period of the previous year and the net profit
attributable to shareholders of the listed company decreased by 20.71% over the same period of the previous year. This was mainly
due to the accounting for the expected credit loss rate of accounts receivable and contract assets in the same period last year. The
estimated change resulted in an increase of TMB75702600 in recurring net profit in the first quarter of last year. After deducting the
impact the net profit attributable to shareholders of the listed company for the current period increased by 293.99% over 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)
-114249.43
Subsidies accounted into the current income account (except the 1784051.29
government subsidy closely related to the enterprise’s business
and based on unified national standard quota)
Gain/loss from change of fair value of transactional financial
asset and liabilities and investment gains from disposal of
transactional and derivative financial assets and liabilities and
sellable financial assets other than valid period value instruments
related to the Company’s common businesses
2278731.89
Write-back of impairment provision of receivables and contract
assets for which impairment test is performed individually
14600000.00
Other non-business income and expenditures other than the above 706830.36
Less: Influenced amount of income tax 2959293.30
Influenced amount of minority shareholders’ equity
(after-tax)
125127.59
Total 16170943.22 --
Explanation statement should be made for accidental gain/loss items defined and accidental gain/loss items defined as regular
gain/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 Information
Disclosure 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 the
report 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
57739
Number of shareholders of preferred
stocks of which voting rights
recovered in the report period
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
10.87% 118307546 Pledged 32700000
Shengjiu
Investment Ltd.
Foreign legal
person
9.66% 105134562
Fang Wei Domestic natural 2.90% 31537937
person
Gong Qing
Cheng Shi Li He
Investment
Management
Partnership
Enterprise
(limited partner)
Domestic
non-state legal
person
1.46% 15860609
VANGUARD
EMERGING
MARKETS
STOCK INDEX
FUND
Foreign legal
person
0.58% 6312683
VANGUARD
TOTAL
INTERNATION
AL STOCK
INDEX FUND
Foreign legal
person
0.57% 6247740
Shenwan
Hongyuan
Securities (Hong
Kong) Co. Ltd.
Foreign legal
person
0.53% 5783896
Qu Chunlin
Domestic natural
person
0.52% 5666861
First Shanghai
Securities
Limited
Foreign legal
person
0.36% 3938704
Shanghai Silver
Leaf Investment
Co. Ltd.-Silver
Leaf Quantitative
Hedging Phase 1
Private Securities
Investment Fund
Others 0.35% 3755500
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.
118307546
RMB common
shares
118307546
Shengjiu Investment Ltd. 105134562 Domestically 105134562
listed foreign
shares
Fang Wei 31537937
RMB common
shares
31537937
Gong Qing Cheng Shi Li He
Investment Management Partnership
Enterprise (limited partner)
15860609
RMB common
shares
15860609
VANGUARD EMERGING
MARKETS STOCK INDEX FUND
6312683
Domestically
listed foreign
shares
6312683
VANGUARD TOTAL
INTERNATIONAL STOCK INDEX
FUND
6247740
Domestically
listed foreign
shares
6247740
Shenwan Hongyuan Securities
(Hong Kong) Co. Ltd.
5783896
Domestically
listed foreign
shares
5783896
Qu Chunlin 5666861
RMB common
shares
5666861
First Shanghai Securities Limited 3938704
Domestically
listed foreign
shares
3938704
Shanghai Silver Leaf Investment
Co. Ltd.-Silver Leaf Quantitative
Hedging Phase 1 Private Securities
Investment Fund
3755500
RMB common
shares
3755500
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.
Explanation of the top 10
shareholders' participation in
financing and securities lending
business
Shenzhen Banglin Technology Development Co. Ltd. holds 55000000 shares of the
Company through the customer credit transaction guarantee securities account of Ping An
Securities Co. Ltd. and Shanghai Yinye Investment Co. Ltd.-Yinye Quantitative Hedging
Phase 2 Private Securities Investment Fund through Xiangcai Securities Co. Ltd. The
customer credit transaction guarantee securities account holds 3755500 shares of the
Company.
Agreed re-purchasing by the Company’s top 10 shareholders of common shares and top 10 shareholders of unconditional common
shares 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 unconditional common
shares in the report period
2. Total number of preferred shareholders and shareholding of top 10 preferred shareholders by the end of
the report period
□ Applicable √ Inapplicable
III Significant Events
1. Major changes in accounting items and financial data in the report period and reasons
√ Applicable □ Inapplicable
Item December 31 2021 December 31 2020 YOY change (%) Reason
Transactional
financial assets
51205573.26 4051015.05 1164.02% Mainly due to increase in
Closing balance bank
borrowings
Construction in
process
91011771.79 168626803.01 -46.03% Mainly due to the completion
of the renovation of the
self-use part of Fangda Town
No. 1 Building and the
conversion to fixed assets
Employees' wage
payable
26000808.23 60188812.64 -56.80% Annual bonus paid
Taxes payable 31636000.44
358662944.42
-91.18% Mainly due to the current
liquidation declaration
and payment of the Fangda
Twon project land
value-added tax
Other current
liabilities
60852310.99 107688425.69 -43.49% Mainly due to the decrease
of unterminated notes
receivable at the end of
the period
Long-term loans 1531661462.35 1099411462.35 39.32% Mainly due to long-term
borrowing of the return
portion of the current
period
Item Total amount in
this year
Last period YOY change (%) Reason
Turnover 643347177.89 413826888.79 55.46% With the gradual
stabilization of the
domestic epidemic the
Company’s major industry
revenues have increased
significantly over the
same period last year
Operating cost 482994905.47 314413603.27 53.62% Mainly due to the
substantial increase in
revenue
Administrative
expense
42172744.29 31000994.73 36.04% Mainly due to the increase
in related expenses
R&D cost 35042482.29 14980824.81 133.92% Mainly due to increased
investment in research and
development
Credit impairment ("-"
for loss)
19539581.61 54750204.80 -64.31% Mainly due to changes in
the accounting estimates
of the expected credit loss
rate in the same period
last year
Investment
impairment loss ("-"
for loss)
22587469.07 38328588.76 -41.07%
Cash flow generated
by investment
activities net
-92492491.98 97240746.73 -195.12% Mainly due to the current
financial investment
expenditure is greater
than the recovery
2. Progress of key issues and its impacts and solutions
□ Applicable √ Inapplicable
Progress in the implementation of share repurchase
√ Applicable □ Inapplicable
The second meeting of the Ninth Board of Directors of the Company held on June 23 2020 deliberated and approved the "Plan
on Repurchase of Certain Domestically Listed Foreign Shares (B Shares) of the Company in 2020". In order to maintain the
Company's value and shareholders' rights and interests the Company decided to use its own funds to repurchase some domestically
listed foreign shares (B shares) in a centralized bidding transaction.
From July 23 2020 to September 22 2020 the Company has cumulatively repurchased 14404724 B shares of the Company
accounting for 1.32% of the Company’s total share capital. The highest purchase price was HK$3.47 per share and the lowest price
was HK$3.16 per share the average purchase price is HK$3.36 per share and the actual cumulative payment for the repurchase of
shares is HK$48359819.24 (including transaction-related expenses).
On April 12 2021 the Company held the 2020 Annual General Meeting of Shareholders and reviewed and approved the
"Proposal on Canceling the Repurchased B Shares in 2020 to Reduce the Registered Capital and Amend the Articles of Association."
According to the resolution the Company will cancel the 14404724 B shares repurchased in 2020 and reduce the Company's
registered capital accordingly.
On April 23 2021 the Company completed the share repurchase and cancellation procedures at the Shenzhen Branch of China
Securities Depository and Clearing Co. Ltd. and disclosed the "Announcement on Completion of Repurchase Shares Cancellation
and Share Changes" on April 27 2021.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. Financial assets investment
1. Securities investment
□ Applicable √ Inapplicable
The Company made no investment in securities in the report period
2. Derivative investment
√ Applicable □ Inapplicable
In RMB10000
Derivati
ve
investm
ent
operator
name
Relation
ship
Related
transacti
on
Type
Initial
amount
Start
date
End
date
Initial
investm
ent
amount
Amount
in this
period
Amount
sold in
this
period
Impairm
ent
provisio
n (if
any)
Closing
investm
ent
amount
Proporti
on of
closing
investm
ent
amount
in the
closing
net
assets in
the
report
period
Actual
gain/los
s in the
report
period
Shangha
i
Futures
Exchan
ge
No No
Shangha
i
aluminu
m
8112.09
Friday
April
17
2020
Wednes
day
March
31
2021
8112.09
4637.2
9
3474.8 0.64% 619.09
Banks No No
Forward
foreign
exchang
e
5803.0
3
Wednes
day
July 29
2020
Wednes
day
March
31
2021
5803.0
3
2749.5
3
3053.4
9
0.56% 84.54
Total
13915.
12
-- --
13915.
12
0
7386.8
2
0
6528.2
9
1.20% 703.63
Capital source Self-owned fund
Lawsuit involved None
Disclosure date of derivative
investment approval by the Board of
Tuesday March 23 2021
Wednesday October 21 2020
Directors
Disclosure date of derivative
investment approval by the
shareholders’ meeting
None
Risk analysis and control measures
for the derivative holding in the
report period (including without
limitation market liquidity credit
operation and legal risks)
The company's aluminum futures hedging and foreign exchange derivatives trading business
are all derivatives investment business. The company has established and implemented the
"Derivatives Investment Business Management Measures" and "Commodity Futures
Hedging Business Internal Control and Risk Management System". It has made clear
regulations on the approval authority business management risk management information
disclosure and file management of derivatives trading business which can effectively control
the risk of the company's derivatives holding positions.
Changes in the market price or fair
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.
Fair value of derivatives are measured at open prices in the open market
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
5. Progress of investment projects with raised funds
□ Applicable √ Inapplicable
6. Forecast of operating performance between January and June in 2021
Warning and reasons of possible net loss or substantial change from the last period between the beginning of the year and the end of
the next report period
□ Applicable √ Inapplicable
7. Major contracts for daily operations
□ Applicable √ Inapplicable
8. Entrusted wealth management
√ Applicable □ Inapplicable
In RMB10000
Type Source of fund Amount Undue balance
Due balance to be
recovered
Bank financial products Self-owned fund 77235.1 5120.56 0
Total 77235.1 5120.56 0
Specific circumstances of high-risk entrusted financing with large individual amount or low security poor liquidity and no cost
protection
□ Applicable √ Inapplicable
Entrusted financial management expected to fail to recover the principal or likely result in impairment
□ Applicable √ Inapplicable
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 the
reporting term
□ Applicable √ Inapplicable
The controlling shareholder and its affiliates occupied no capital for non-operating purpose of the Company during the report period.XI. Reception of investigations communications or interviews in the reporting period
√ Applicable □ Inapplicable
Time/date Place Way Visitor Visitor
Main content
involved and
materials
provided
Disclosure of
information
Thursday March
25 2021
Online Others Others Online investors
For details
please refer to
the Investor
Relations
Activity Record
Sheet of Fangda
Group
Performance
Presentation
Shenzhen Stock
Exchange's interactive
platform
IV Financial Statements
1. Financial statements
1. Consolidated Balance Sheet
Prepared by: China Fangda Group Co. Ltd.Wednesday March 31 2021
In RMB
Item Wednesday March 31 2021 Thursday December 31 2020
Current asset:
Monetary capital 1050347975.31 1459840020.10
Settlement provision
Outgoing call loan
Transactional financial assets 51205573.26 4051015.05
Derivative financial assets 7520875.00 6974448.22
Notes receivable 181149565.46 207145563.97
Account receivable 452811227.09 616195129.40
Receivable financing 13500000.00 10727129.28
Prepayment 15839501.91 23845963.67
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance
contracts receivable
Other receivables 164422400.16 162145236.85
Including: interest receivable
Dividend receivable
Repurchasing of financial assets
Inventory 818438139.00 837831790.88
Contract assets 1420880863.67 1425040223.27
Assets held for sales
Non-current assets due in 1 year 117654240.29 141681778.35
Other current assets 248724209.42 233223084.51
Total current assets 4542494570.57 5128701383.55
Non-current assets:
Loan and advancement provided
Debt investment
Other debt investment
Long-term receivables
Long-term share equity investment 55616828.32 55902377.95
Investment in other equity tools 17506572.52 17628307.59
Other non-current financial assets 5025885.00 5025186.16
Investment real estate 5641240481.37 5634648416.52
Fixed assets 560717417.41 483161673.38
Construction in process 91011771.79 168626803.01
Productive biological assets
Gas & petrol
Use right assets 6681205.46
Intangible assets 76697231.79 77192825.83
R&D expense
Goodwill
Long-term amortizable expenses 4520479.46 4581487.32
Deferred income tax assets 180563589.26 186649335.96
Other non-current assets 116586715.90 104739453.12
Total of non-current assets 6756168178.28 6738155866.84
Total of assets 11298662748.85 11866857250.39
Current liabilities
Short-term loans 816676597.11 1048250327.62
Loans from Central Bank
Call loan received
Transactional financial liabilities
Derivative financial liabilities 417122.26 915234.93
Notes payable 704681085.59 866224515.42
Account payable 1040826381.61 1279434551.95
Prepayment received 4940392.61 1544655.62
Contract liabilities 208326703.19 265487113.12
Selling of repurchased financial
assets
Deposit received and held for
others
Entrusted trading of securities
Entrusted selling of securities
Employees' wage payable 26000808.23 60188812.64
Taxes payable 31636000.44 358662944.42
Other payables 159412770.95 147615289.31
Including: interest payable
Dividend payable
Fees and commissions payable
Reinsurance fee payable
Liabilities held for sales
Non-current liabilities due in 1
year
108500350.04 103359833.57
Other current liabilities 60852310.99 107688425.69
Total current liabilities 3162270523.02 4239371704.29
Non-current liabilities:
Insurance contract provision
Long-term loans 1531661462.35 1099411462.35
Bond payable
Including: preferred stock
Perpetual bond
Lease liabilities 5474263.34
Long-term payable
Long-term employees' wage
payable
Anticipated liabilities 31992824.43 33425500.13
Deferred earning 9053366.84 9168492.17
Deferred income tax liabilities 1037058135.50 1038084099.97
Other non-current liabilities
Total of non-current liabilities 2615240052.46 2180089554.62
Total liabilities 5777510575.48 6419461258.91
Owner's equity:
Share capital 1088278951.00 1088278951.00
Other equity tools
Including: preferred stock
Perpetual bond
Capital reserves 11459588.40 11459588.40
Less: Shares in stock 42748530.12 42748530.12
Other miscellaneous income 2890916.75 2078167.63
Special reserves
Surplus reserve 106783436.96 106783436.96
Common risk provisions
Retained profit 4290159010.43 4215005541.52
Total of owner's equity belong to the
parent company
5456823373.42 5380857155.39
Minor shareholders' equity 64328799.95 66538836.09
Total of owners' equity 5521152173.37 5447395991.48
Total of liabilities and owner's interest 11298662748.85 11866857250.39
Legal representative: Xiong Jianming CFO: Lin Kebing Accounting Manager: Wu Bohua
2. Balance Sheet of the Parent Company
In RMB
Item Wednesday March 31 2021 Thursday December 31 2020
Current asset:
Monetary capital 24753184.02 204828995.78
Transactional financial assets
Derivative financial assets
Notes receivable
Account receivable 671542.60 885849.08
Receivable financing
Prepayment 660304.84 1323361.34
Other receivables 1401224399.72 1156802204.91
Including: interest receivable
Dividend receivable
Inventory
Contract assets
Assets held for sales
Non-current assets due in 1 year
Other current assets 1124624.60 1071138.13
Total current assets 1428434055.78 1364911549.24
Non-current assets:
Debt investment
Other debt investment
Long-term receivables
Long-term share equity investment 1196831253.00 1196831253.00
Investment in other equity tools 16392331.44 16392331.44
Other non-current financial assets 30000001.00 30000001.00
Investment real estate 334498436.00 334498436.00
Fixed assets 64692915.48 65157481.98
Construction in process
Productive biological assets
Gas & petrol
Use right assets
Intangible assets 1444285.35 1521975.72
R&D expense
Goodwill
Long-term amortizable expenses 555171.41 687202.16
Deferred income tax assets 27340270.29 26592617.26
Other non-current assets
Total of non-current assets 1671754663.97 1671681298.56
Total of assets 3100188719.75 3036592847.80
Current liabilities
Short-term loans 490523263.90 491503263.89
Transactional financial liabilities
Derivative financial liabilities
Notes payable
Account payable 606941.85 606941.85
Prepayment received 723098.39 927674.32
Contract liabilities
Employees' wage payable 1273149.41 3440073.04
Taxes payable 3065122.39 2993196.12
Other payables 63857788.94 28068648.70
Including: interest payable
Dividend payable
Liabilities held for sales
Non-current liabilities due in 1
year
Other current liabilities
Total current liabilities 560049364.88 527539797.92
Non-current liabilities:
Long-term loans
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 73762656.21 73837511.85
Other non-current liabilities
Total of non-current liabilities 73762656.21 73837511.85
Total liabilities 633812021.09 601377309.77
Owner's equity:
Share capital 1088278951.00 1088278951.00
Other equity tools
Including: preferred stock
Perpetual bond
Capital reserves 360835.52 360835.52
Less: Shares in stock 42748530.12 42748530.12
Other miscellaneous income -371129.71 -371129.71
Special reserves
Surplus reserve 106783436.96 106783436.96
Retained profit 1314073135.01 1282911974.38
Total of owners' equity 2466376698.66 2435215538.03
Total of liabilities and owner's interest 3100188719.75 3036592847.80
3. Consolidated Income Statement
In RMB
Item Amount occurred in the current period Occurred in previous period
1. Total revenue 643347177.89 413826888.79
Incl. Business income 643347177.89 413826888.79
Interest income
Insurance fee earned
Fee and commission
received
2. Total business cost 598103967.00 394659366.67
Incl. Business cost 482994905.47 314413603.27
Interest expense
Fee and commission paid
Insurance discharge payment
Net claim amount paid
Net insurance policy
responsibility contract reserves provided
Insurance policy dividend
paid
Reinsurance expenses
Taxes and surcharges 7222382.29 3390682.90
Sales expense 10158035.76 8076166.66
Administrative expense 42172744.29 31000994.73
R&D cost 35042482.29 14980824.81
Financial expenses 20513416.90 22797094.30
Including: interest cost 17542167.55 22193016.28
Interest income 2952322.09 2199503.22
Add: other gains 3743091.62 1234219.99
Investment gains (“-” for loss) 41032.31 241358.65
Incl. Investment gains from
affiliates and joint ventures
-285549.63 -168943.59
Financial assets
derecognised as a result of amortized cost
-1951451.11
Exchange gains ("-" for loss)
Net open hedge gains (“-” for
loss)
Gains from change of fair value(“-“ for loss)
698.84 4128.92
Credit impairment ("-" for loss) 19539581.61
54750204.80
Investment impairment loss
("-" for loss)
22587469.07
38328588.76
Investment gains ("-" for loss) -114249.43
3. Operational profit ("-" for loss) 91040834.91 113726023.24
Plus: non-operational income 883540.49 106391.56
Less: non-operational expenditure 176710.13 3026114.28
4. Gross profit ("-" for loss) 91747665.27 110806300.52
Less: Income tax expenses 14783162.05 16037544.87
5. Net profit ("-" for net loss) 76964503.22 94768755.65
(1) By operating consistency
1. Net profit from continuous
operation ("-" for net loss)
76964503.22 94768755.65
2. Net profit from discontinuous
operation ("-" for net loss)
(2) By ownership
1. Net profit attributable to the
shareholders of the parent company
75153468.91 94777419.75
2. Minor shareholders’ equity 1811034.31 -8664.10
6. After-tax net amount of other misc.
incomes
781394.67 -13049080.39
After-tax net amount of other misc.
incomes attributed to parent's owner
812749.12 -13049080.39
(1) Other misc. incomes that cannot
be re-classified into gain and loss
-121735.07
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
-121735.07
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
934484.19 -13049080.39
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. Gains and losses from
changes in fair value of available-for-sale
financial assets
4. Other credit investment
credit impairment provisions
5. Cash flow hedge reserve 920482.22 -12650960.02
6. Translation difference of
foreign exchange statement
14001.97 -398120.37
7. Others
After-tax net of other misc. income
attributed to minority shareholders
-31354.45
7. Total of misc. incomes 77745897.89 81719675.26
Total of misc. incomes attributable
to the owners of the parent company
75966218.03 81728339.36
Total misc gains attributable to the
minor shareholders
1779679.86 -8664.10
8. Earnings per share:
(1) Basic earnings per share 0.07 0.08
(2) Diluted earnings per share 0.07 0.08
Net profit contributed by entities merged under common control in the report period was RMB0.00 net profit realized by parties
merged during the previous period is RMB0.00.Legal representative: Xiong Jianming CFO: Lin Kebing Accounting Manager: Wu Bohua
4. Income Statement of the Parent Company
In RMB
Item Amount occurred in the current period Occurred in previous period
1. Turnover 6059661.51 6518715.41
Less: Operation cost 79702.77 38161.28
Taxes and surcharges 69555.62 320625.81
Sales expense
Administrative expense 6163118.29 6007355.43
R&D cost
Financial expenses 3347465.47 9528622.34
Including: interest cost 3301250.01 10094338.89
Interest income 220423.32 571446.30
Add: other gains 77100.49 70235.05
Investment gains (“-” for loss) 33862460.96 125658.72
Incl. Investment gains from
affiliates and joint ventures
Financial assets
derecognised as a result of amortized
cost ("-" for loss)
Net open hedge gains (“-” for
loss)
Gains from change of fairvalue (“-“ for loss)
Credit impairment ("-" for
loss)
700.20 -6241.41
Investment impairment loss
("-" for loss)
Investment gains ("-" for loss)
2. Operational profit (“-” for loss) 30340081.01 -9186397.09
Plus: non-operational income
Less: non-operational expenditure 1429.05
3. Gross profit ("-" for loss) 30338651.96 -9186397.09
Less: Income tax expenses -822508.67 -2278347.27
4. Net profit (“-” for net loss) 31161160.63 -6908049.82
(1) Net profit from continuous
operation ("-" for net loss)
31161160.63 -6908049.82
(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. Gains and losses from
changes in fair value of
available-for-sale financial assets
4. Other credit investment
credit impairment provisions
5. Cash flow hedge reserve
6. Translation difference of
foreign exchange statement
7. Others
6. Total of misc. incomes 31161160.63 -6908049.82
7. Earnings per share:
(1) Basic earnings per share
(2) Diluted earnings per share
5. Consolidated Cash Flow Statement
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
841141839.35 552621802.47
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 12748845.37 1811320.46
Other cash received from business
operation
70643051.32 72333751.51
Sub-total of cash inflow from business
operations
924533736.04 626766874.44
Cash paid for purchasing products
and services
786329162.59 606808963.41
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 109277627.51 99253547.69
Taxes paid 367577705.38 31853052.06
Other cash paid for business
activities
84645704.30 227956358.27
Sub-total of cash outflow from business
operations
1347830199.78 965871921.43
Cash flow generated by business
operations net
-423296463.74 -339105046.99
2. Cash flow generated by investment:
Cash received from investment
recovery
1687886805.14 1344500000.00
Cash received as investment profit 2096669.70 8789161.18
Net cash retrieved from disposal of
fixed assets intangible assets and other
long-term assets
194.69
Net cash received from disposal of
subsidiaries or other operational units
Other investment-related cash
received
250.00
Sub-total of cash inflow generated from
investment
1689983669.53 1353289411.18
Cash paid for construction of fixed
assets intangible assets and other
long-term assets
47616161.51 59588664.45
Cash paid as investment 1734860000.00 1196460000.00
Net increase of loan against pledge
Net cash paid for acquiring
subsidiaries and other operational units
Other cash paid for investment
Subtotal of cash outflows 1782476161.51 1256048664.45
Cash flow generated by investment
activities net
-92492491.98 97240746.73
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
470000000.00 1725388124.18
Other cash received from financing
activities
Subtotal of cash inflow from financing
activities
470000000.00 1725388124.18
Cash paid to repay debts 78249952.00 1403978153.39
Cash paid as dividend profit or
interests
24136165.50 24999493.27
Incl. Dividend and profit paid by
subsidiaries to minority shareholders
Other cash paid for financing
activities
148275409.77
Subtotal of cash outflow from financing
activities
250661527.27 1428977646.66
Net cash flow generated by financing
activities
219338472.73 296410477.52
4. Influence of exchange rate changes
on cash and cash equivalents
-1062752.02 467765.09
5. Net increase in cash and cash
equivalents
-297513235.01 55013942.35
Plus: Balance of cash and cash
equivalents at the beginning of term
1024252387.39 725269902.90
6. Balance of cash and cash equivalents
at the end of the period
726739152.38 780283845.25
6. Cash Flow Statement of the Parent Company
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
6294925.95 3513156.36
Tax refunded
Other cash received from business 826433373.37 2136488278.30
operation
Sub-total of cash inflow from business
operations
832728299.32 2140001434.66
Cash paid for purchasing products
and services
216123.22 29756.47
Cash paid to and for the staff 6686301.30 6328845.37
Taxes paid 354839.22 399458.88
Other cash paid for business
activities
1034995313.64 1707124112.24
Sub-total of cash outflow from business
operations
1042252577.38 1713882172.96
Cash flow generated by business
operations net
-209524278.06 426119261.70
2. Cash flow generated by investment:
Cash received from investment
recovery
285000000.00 364500000.00
Cash received as investment profit 33862460.96 125658.72
Net cash retrieved from disposal of
fixed assets intangible assets and other
long-term assets
Net cash received from disposal of
subsidiaries or other operational units
Other investment-related cash
received
Sub-total of cash inflow generated from
investment
318862460.96 364625658.72
Cash paid for construction of fixed
assets intangible assets and other
long-term assets
132744.66 6250.00
Cash paid as investment 285000000.00 364500000.00
Net cash paid for acquiring
subsidiaries and other operational units
Other cash paid for investment
Subtotal of cash outflows 285132744.66 364506250.00
Cash flow generated by investment
activities net
33729716.30 119408.72
3. Cash flow generated by financing
activities:
Cash received from investment
Cash received from borrowed
loans
200000000.00
Other cash received from financing
activities
Subtotal of cash inflow from financing
activities
200000000.00
Cash paid to repay debts 510000000.00
Cash paid as dividend profit or
interests
4281250.00 10580009.03
Other cash paid for financing
activities
Subtotal of cash outflow from financing
activities
4281250.00 520580009.03
Net cash flow generated by financing
activities
-4281250.00 -320580009.03
4. Influence of exchange rate changes
on cash and cash equivalents
5. Net increase in cash and cash
equivalents
-180075811.76 105658661.39
Plus: Balance of cash and cash
equivalents at the beginning of term
204578995.78 175341953.63
6. Balance of cash and cash equivalents
at the end of the period
24503184.02 281000615.02
II. Financial Statement Adjustment
1. The first implementation of the new financial instruments guidelines new lease standards adjustments
the first implementation of the financial statements at the beginning of the year 2021
√ Applicable □ Inapplicable
Whether to adjust the balance sheet accounts at the beginning of the year
√ Yes □ No
Consolidated Balance Sheet
In RMB
Item Thursday December 31 2020 Friday January 1 2021 Adjustment
Current asset:
Monetary capital 1459840020.10 1459840020.10 0.00
Settlement provision 0.00 0.00
Outgoing call loan 0.00 0.00
Transactional financial
assets
4051015.05 4051015.05 0.00
Derivative financial
assets
6974448.22 6974448.22 0.00
Notes receivable 207145563.97 207145563.97 0.00
Account receivable 616195129.40 616195129.40 0.00
Receivable financing 10727129.28 10727129.28 0.00
Prepayment 23845963.67 23845963.67 0.00
Insurance receivable 0.00 0.00
Reinsurance receivable 0.00 0.00
Provisions of
Reinsurance contracts
receivable
0.00 0.00
Other receivables 162145236.85 162145236.85 0.00
Including: interest
receivable
0.00 0.00
Dividend
receivable
0.00 0.00
Repurchasing of
financial assets
0.00 0.00
Inventory 837831790.88 837831790.88 0.00
Contract assets 1425040223.27 1425040223.27 0.00
Assets held for sales 0.00 0.00
Non-current assets due
in 1 year
141681778.35 141681778.35 0.00
Other current assets 233223084.51 233223084.51 0.00
Total current assets 5128701383.55 5128701383.55 0.00
Non-current assets:
Loan and advancement
provided
0.00 0.00
Debt investment 0.00 0.00
Other debt investment 0.00 0.00
Long-term receivables 0.00 0.00
Long-term share equity
investment
55902377.95 55902377.95 0.00
Investment in other
equity tools
17628307.59 17628307.59 0.00
Other non-current
financial assets
5025186.16 5025186.16 0.00
Investment real estate 5634648416.52 5634648416.52 0.00
Fixed assets 483161673.38 483161673.38 0.00
Construction in process 168626803.01 168626803.01 0.00
Productive biological
assets
0.00 0.00
Gas & petrol 0.00 0.00
Use right assets 7208915.40 7208915.40
Intangible assets 77192825.83 77192825.83 0.00
R&D expense 0.00 0.00
Goodwill 0.00 0.00
Long-term amortizable
expenses
4581487.32 4581487.32 0.00
Deferred income tax
assets
186649335.96 186649335.96 0.00
Other non-current assets 104739453.12 104739453.12 0.00
Total of non-current assets 6738155866.84 6745364782.24 7208915.40
Total of assets 11866857250.39 11874066165.79 7208915.40
Current liabilities
Short-term loans 1048250327.62 1048250327.62 0.00
Loans from Central
Bank
0.00 0.00
Call loan received 0.00 0.00
Transactional financial
liabilities
0.00 0.00
Derivative financial
liabilities
915234.93 915234.93 0.00
Notes payable 866224515.42 866224515.42 0.00
Account payable 1279434551.95 1279434551.95 0.00
Prepayment received 1544655.62 1544655.62 0.00
Contract liabilities 265487113.12 265487113.12 0.00
Selling of repurchased
financial assets
0.00 0.00
Deposit received and
held for others
0.00 0.00
Entrusted trading of
securities
0.00 0.00
Entrusted selling of
securities
0.00 0.00
Employees' wage
payable
60188812.64 60188812.64 0.00
Taxes payable 358662944.42 358662944.42 0.00
Other payables 147615289.31 147615289.31 0.00
Including: interest
payable
0.00 0.00
Dividend
payable
0.00 0.00
Fees and commissions
payable
0.00 0.00
Reinsurance fee payable 0.00 0.00
Liabilities held for sales 0.00 0.00
Non-current liabilities
due in 1 year
103359833.57 105466746.78 2106913.21
Other current liabilities 107688425.69 107688425.69 0.00
Total current liabilities 4239371704.29 4241478617.50 2106913.21
Non-current liabilities:
Insurance contract
provision
0.00 0.00
Long-term loans 1099411462.35 1099411462.35 0.00
Bond payable 0.00 0.00
Including: preferred
stock
0.00 0.00
Perpetual
bond
0.00 0.00
Lease liabilities 5102002.19 5102002.19
Long-term payable 0.00 0.00
Long-term employees'
wage payable
0.00 0.00
Anticipated liabilities 33425500.13 33425500.13 0.00
Deferred earning 9168492.17 9168492.17 0.00
Deferred income tax
liabilities
1038084099.97 1038084099.97 0.00
Other non-current
liabilities
0.00 0.00
Total of non-current
liabilities
2180089554.62 2185191556.81 5102002.19
Total liabilities 6419461258.91 6426670174.31 7208915.40
Owner's equity:
Share capital 1088278951.00 1088278951.00 0.00
Other equity tools 0.00 0.00
Including: preferred
stock
0.00 0.00
Perpetual
bond
0.00 0.00
Capital reserves 11459588.40 11459588.40 0.00
Less: Shares in stock 42748530.12 42748530.12 0.00
Other miscellaneous
income
2078167.63 2078167.63 0.00
Special reserves 0.00 0.00
Surplus reserve 106783436.96 106783436.96 0.00
Common risk provisions 0.00 0.00
Retained profit 4215005541.52 4215005541.52 0.00
Total of owner's equity
belong to the parent company
5380857155.39 5380857155.39 0.00
Minor shareholders'
equity
66538836.09 66538836.09 0.00
Total of owners' equity 5447395991.48 5447395991.48 0.00
Total of liabilities and
owner's interest
11866857250.39 11874066165.79 7208915.40
About the adjustment:
According to the requirements of the new lease standard the Company will recognize all leased assets (except short-term
leases and low-value asset leases that choose simplified processing) to recognize right-of-use assets and lease liabilities from January
1 2021 and recognize depreciation and interest expenses respectively.
In the standard convergence policy simplified treatment is selected that is the lease liabilities are equal to the present value of
the remaining lease payment and the right-of-use asset is equal to the amount of the lease liabilities and necessary adjustments are
made. Using this method will not affect the company's retained earnings at the beginning of 2021.
Balance Sheet of the Parent Company
In RMB
Item Thursday December 31 2020 Friday January 1 2021 Adjustment
Current asset:
Monetary capital 204828995.78 204828995.78
Account receivable 885849.08 885849.08
Prepayment 1323361.34 1323361.34
Other receivables 1156802204.91 1156802204.91
Other current assets 1071138.13 1071138.13
Total current assets 1364911549.24 1364911549.24
Non-current assets:
Long-term share equity
investment
1196831253.00 1196831253.00
Investment in other
equity tools
16392331.44 16392331.44
Other non-current
financial assets
30000001.00 30000001.00
Investment real estate 334498436.00 334498436.00
Fixed assets 65157481.98 65157481.98
Intangible assets 1521975.72 1521975.72
Long-term amortizable
expenses
687202.16 687202.16
Deferred income tax
assets
26592617.26 26592617.26
Total of non-current assets 1671681298.56 1671681298.56
Total of assets 3036592847.80 3036592847.80
Current liabilities
Short-term loans 491503263.89 491503263.89
Account payable 606941.85 606941.85
Prepayment received 927674.32 927674.32
Employees' wage
payable
3440073.04 3440073.04
Taxes payable 2993196.12 2993196.12
Other payables 28068648.70 28068648.70
Total current liabilities 527539797.92 527539797.92
Non-current liabilities:
Deferred income tax 73837511.85 73837511.85
liabilities
Total of non-current
liabilities
73837511.85 73837511.85
Total liabilities 601377309.77 601377309.77
Owner's equity:
Share capital 1088278951.00 1088278951.00
Capital reserves 360835.52 360835.52
Less: Shares in stock 42748530.12 42748530.12
Other miscellaneous
income
-371129.71 -371129.71
Surplus reserve 106783436.96 106783436.96
Retained profit 1282911974.38 1282911974.38
Total of owners' equity 2435215538.03 2435215538.03
Total of liabilities and
owner's interest
3036592847.80 3036592847.80
About the adjustment:
The parent company of the Company has no leases other than short-term leases and leases of low-value assets. Therefore the
implementation of the new lease standards has no impact on the balance sheet of the parent company at the beginning of 2021.
2. Description of the 2021 first implementation of the new lease standard retrospective adjustment of the
previous period comparison data
□ Applicable √ Inapplicable
3. Auditor’s Report
Whether the Q1 report is audited
□ Yes √ No
The Q2 Report is not audited.
China Fangda Group Co. Ltd.
Legal representative: Xiong Jianming
Wednesday April 28 2021
沪公网安备31011802005267号
