China Fangda Group Co. Ltd.
2020 First Quarter Report
April 2020
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) 413826888.79 670452093.70 -38.28%
Net profit attributable to shareholders of
the listed company (yuan)
94777419.75 69998533.09 35.40%
Net profit attributable to the shareholders
of the listed company and after deducting
of non-recurring gain/loss (RMB)
95563557.35 64930951.19 47.18%
Net cash flow generated by business
operation (RMB)
-339105046.99 -296237735.96 -14.47%
Basic earnings per share (yuan/share) 0.08 0.06 33.33%
Diluted Earnings per share (yuan/share) 0.08 0.06 33.33%
Weighted average net income/asset ratio 1.81% 1.37% 0.44%
End of the report period End of last year Year-on-year change
Total asset (RMB) 11349613130.91 11369964580.11 -0.18%
Net profit attributable to the shareholders
of the listed company (RMB)
5264523419.03 5182795079.67 1.58%
In the current period the net profit of the current period is increased by about 7 570.26 million yuan as a result of changes in the
accounting estimates of accounts receivable and the expected credit loss rate of contractual assets.
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
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)
712484.43
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
1026287.87
Gain/loss from commissioned loans 226200.00
Other non-business income and expenditures other than the above -2923742.72
Less: Influenced amount of income tax -172632.82
Total -786137.60 --
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
63114
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
10.22% 114847854 0 Pledged 32700000
Shengjiu
Investment Ltd.
Foreign legal
person
9.27% 104127379 0
Fang Wei
Domestic natural
person
3.50% 39372437 0
Gong Qing
Cheng Shi Li He
Investment
Management
Partnership
Enterprise
(limited partner)
Domestic
non-state legal
person
2.38% 26791488 0
VANGUARD
EMERGING
MARKETS
STOCK INDEX
FUND
Foreign legal
person
0.71% 7946483 0
Shenwan
Hongyuan
Securities (Hong
Kong) Co. Ltd.
Foreign legal
person
0.65% 7253756 0
SUN HUNG KAI
INVESTMENT
SERVICES LTD
Foreign legal
person
0.62% 6916495 0
Liu Qi
Domestic natural
person
0.54% 6115600 0
VANGUARD
TOTAL
INTERNATION
AL STOCK
INDEX FUND
Foreign legal
person
0.53% 5911907 0
Qu Chunlin
Domestic natural
person
0.49% 5557011 0
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.
114847854
RMB common
shares
114847854
Shengjiu Investment Ltd. 104127379
Foreign shares
listed in domestic
exchanges
104127379
Fang Wei 39372437
RMB common
shares
39372437
Gong Qing Cheng Shi Li He
Investment Management Partnership
Enterprise (limited partner)
26791488
RMB common
shares
26791488
VANGUARD EMERGING
MARKETS STOCK INDEX FUND
7946483
Foreign shares
listed in domestic
exchanges
7946483
Shenwan Hongyuan Securities
(Hong Kong) Co. Ltd.
7253756
Foreign shares
listed in domestic
exchanges
7253756
SUN HUNG KAI INVESTMENT
SERVICES LTD
6916495
Foreign shares
listed in domestic
exchanges
6916495
Liu Qi 6115600
RMB common
shares
6115600
VANGUARD TOTAL
INTERNATIONAL STOCK INDEX
FUND
5911907
Foreign shares
listed in domestic
exchanges
5911907
Qu Chunlin 5557011
RMB common
shares
5557011
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 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
In RMB
Item December 31 2020 December 31 2019 YOY change (%) Reason
Transactional financial
assets
42597937.65 10330062.18 312.37% Mainly due to increase in Closing
balance bank borrowings
Account receivable 275062961.50 1956191307.07 -85.94% Mainly due to the implementation
of the new income standard
classification into contract
assets
Prepayment 37831932.19 21327109.18 77.39% Mainly due to increase in
prepayment for materials
Contract assets 1679646778.83 100.00% Mainly due to the implementation
of the new income standard
classification into contract
assets
Other current assets 141866486.65 323765585.90 -56.18% Mainly due to redemption of
prior-period structural
deposits due in current period
Derivative financial
liabilities
14980250.00 96767.62 15380.64% Due to adjustment of fair value
of investment real estate
Prepayment received 1811168.69 136340104.73 -98.67% Mainly due to the implementation
of the new income standard
classification into contract
Liabilities
Employees' wage payable 21333262.35 55847134.20 -61.80% Annual bonus paid
Contract liabilities 143783832.39 100.00% Mainly due to the implementation
of the new income standard
classification into contract
assets
Non-current liabilities
due in 1 year
446154052.14 922346563.72 -51.63% Mainly due to long-term
borrowing of the return portion
of the current period
Long-term loans 1167161462.35 546501491.56 113.57% Mainly due to long-term
borrowing of the return portion
of the current period
Other miscellaneous -13524489.64 -475409.25 -2744.81% Due to adjustment of fair value
income of investment real estate
Item Total amount in this
year
Last period YOY change (%) Reason
Turnover 413826888.79 670452093.70 -38.28% Mainly due to the decrease in
real estate sales over the same
period last year and the decrease
in output value due to epidemic
Operation cost 314413603.26 467237374.40 -32.71% Main due to decrease in income
Taxes and surcharges 3390682.90 33241693.55 -89.80% Mainly due to the decrease in
estate income which is due to the
decrease in provision of the land
VAT.
Administrative expense 31000994.73 48521803.12 -36.11% Main due to decrease in Expense
R&D cost 14980824.81 4150525.60 260.94% Mainly due to increased
investment in research and
development
Credit impairment ("-" for
loss)
93078793.56 3514366.55 2548.52% This is mainly due to a change in
the accounting estimate by
recalculating the expected
credit loss rate of receivables
based on the latest data
information as required by the
new Financial Instruments
Guidelines
Net profit attributable to
the owners of parent
company
94777419.75 69998533.09 35.40% Mainly due to the adjustment of
the expected credit loss rate for
the current period
Cash flow generated by
investment activities
net
97240746.73 -253395866.96 138.38% Mainly due to the recovery of
wealth management investment in
this period is greater than the
expenditure
2. Progress of key issues and its impacts and solutions
□ Applicable √ Inapplicable
Progress in the implementation of share repurchase
√ Applicable □ Inapplicable
2.The company convened the 19th meeting of eighth board of directors and the first extraordinary general meeting of shareholders on
November 28 2019 and December 16 2019 respectively. The plan for listing foreign shares (B shares) ".On March 13 2020 the
company disclosed the "2019 Annual Report on the Repurchase of Certain Domestically Listed Foreign Shares (B Shares) Shares of
the Company". On April 3 2020 the company repurchased 2705700 B shares of the company for the first time through centralized
auction Accounting for 0.24% of the company ’s total share capital the highest purchase price is 2.67 Hong Kong dollars / share
the lowest price is 2.45 Hong Kong dollars / share and the total amount paid is 7144091.82 Hong Kong dollars (excluding
transaction fees).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. Securities investment
□ Applicable √ Inapplicable
The Company made no investment in securities in the report period
5. 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 47313.01 4259.79 0
Total 47313.01 4259.79 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
6. 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/lo
ss in
the
report
period
Shangha
i
Futures
Exchan
ge
No No
Shanghai
aluminu
m
0
01/01/2
020
March
31
2020
10149.
04
295.27
9853.7
8
1.87% -20.31
Banks No No
Forward
foreign
exchange
2166
01/01/2
020
March
31
2020
2166 2166 0 0.00% -29.79
Total 2166 -- -- 2166
10149.
04
2461.2
7
9853.7
8
1.87% -50.1
Capital source Self-owned fund
Lawsuit involved None
Disclosure date of derivative
investment approval by the Board of
Directors
31 October 2017
November 30 2019
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
7. Reception of investigations communications or interviews in the reporting period
√ Applicable □ Inapplicable
Time/date Way Visitor Disclosure of information
January 01 2020 to March
31 2020
Written inquiry Individual Investor Q&A conducted on the
interactive and e-platform of the
Shenzhen Stock Exchange website
(http://irm.cninfo.com.cn/)
8. Incompliant external guarantee
□ Applicable √ Inapplicable
The Company made no incompliant external guarantee in the report period.
9. 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.
IV Financial Statements
1. Financial statements
1. Consolidated Balance Sheet
Prepared by: China Fangda Group Co. Ltd.March 31 2020
In RMB
Item March 31 2020 31 December 2019
Current asset:
Monetary capital 1305254496.98 1209811978.95
Settlement provision
Outgoing call loan
Transactional financial assets 42597937.65 10330062.18
Derivative financial assets
Notes receivable 260977307.42 305070930.97
Account receivable 275062961.50 1956191307.07
Receivable financing 1472986.00 2954029.00
Prepayment 37831932.19 21327109.18
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance
contracts receivable
Other receivables 171831350.87 139947655.35
Including: interest receivable
Dividend receivable
Repurchasing of financial assets
Inventory 769041997.23 733711143.46
Contract assets 1679646778.83
Assets held for sales
Non-current assets due in 1 year
Other current assets 141866486.65 323765585.90
Total current assets 4685584235.32 4703109802.06
Non-current assets:
Loan and advancement provided
Debt investment
Other debt investment
Long-term receivables
Long-term share equity investment 57053297.24 57222240.83
Investment in other equity tools 20660181.44 20660181.44
Other non-current financial assets 5013856.94 5009728.02
Investment real estate 5526406257.72 5522391984.11
Fixed assets 471760408.25 477332830.92
Construction in process 137218049.71 129988982.86
Productive biological assets
Gas & petrol
Use right assets
Intangible assets 77263888.98 78322265.05
R&D expense
Goodwill
Long-term amortizable expenses 4175900.83 3875198.12
Deferred income tax assets 333911341.48 343349564.70
Other non-current assets 30565713.00 28701802.00
Total of non-current assets 6664028895.59 6666854778.05
Total of assets 11349613130.91 11369964580.11
Current liabilities
Short-term loans 901425596.21 724618197.34
Loans from Central Bank
Call loan received
Transactional financial liabilities
Derivative financial liabilities 14980250.00 96767.62
Notes payable 491474890.57 578816027.44
Account payable 932332203.83 1190773300.24
Prepayment received 1811168.69 136340104.73
Contract liabilities 143783832.39
Selling of repurchased financial
assets
Deposit received and held for
others
Entrusted trading of securities
Entrusted selling of securities
Employees' wage payable 21333262.35 55847134.20
Taxes payable 13261911.44 17848987.68
Other payables 693660830.97 701432408.28
Including: interest payable
Dividend payable
Fees and commissions payable
Reinsurance fee payable
Liabilities held for sales
Non-current liabilities due in 1
year
446154052.14 922346563.72
Other current liabilities 134565414.64 181694574.47
Total current liabilities 3794783413.23 4509814065.72
Non-current liabilities:
Insurance contract provision
Long-term loans 1167161462.35 546501491.56
Bond payable
Including: preferred stock
Perpetual bond
Lease liabilities
Long-term payable
Long-term employees’ wage
payable
Anticipated liabilities 5335897.31 7793527.16
Deferred earning 10748057.41 10817247.40
Deferred income tax liabilities 1058659536.08 1063833159.00
Other non-current liabilities
Total of non-current liabilities 2241904953.15 1628945425.12
Total liabilities 6036688366.38 6138759490.84
Owner’s equity:
Share capital 1123384189.00 1123384189.00
Other equity instruments
Including: preferred stock
Perpetual bond
Capital reserves 1454191.59 1454191.59
Less: Shares in stock
Other miscellaneous income -13524489.64 -475409.25
Special reserves
Surplus reserve 159805930.34 159805930.34
Common risk provisions
Undistributed profit 3993403597.74 3898626177.99
Total of owner’s equity belong to the
parent company
5264523419.03 5182795079.67
Minor shareholders’ equity 48401345.50 48410009.60
Total of owners’ equity 5312924764.53 5231205089.27
Total of liabilities and owner’s interest 11349613130.91 11369964580.11
Legal representative: Xiong Jianming CFO: Lin Kebing Accounting Manager: Wu Bohua
2. Balance Sheet of the Parent Company
In RMB
Item March 31 2020 31 December 2019
Current asset:
Monetary capital 281250615.02 175591953.63
Transactional financial assets
Derivative financial assets
Notes receivable
Account receivable 1352173.43 297813.76
Receivable financing
Prepayment 60990.56 250205.32
Other receivables 2132709589.52 1973381342.74
Including: interest receivable
Dividend receivable
Inventory
Contract assets
Assets held for sales
Non-current assets due in 1 year
Other current assets 931156.00 877430.41
Total current assets 2416304524.53 2150398745.86
Non-current assets:
Debt investment
Other debt investment
Long-term receivables
Long-term share equity investment 963508253.00 963508253.00
Investment in other equity tools 18604010.22 18604010.22
Other non-current financial assets 48831242.35 48831242.35
Investment real estate 295355002.00 295355002.00
Fixed assets 66803009.98 67361529.52
Construction in process
Productive biological assets
Gas & petrol
Use right assets
Intangible assets 1744519.79 1824589.22
R&D expense
Goodwill
Long-term amortizable expenses 928084.25 934669.73
Deferred income tax assets 46612122.44 44408630.81
Other non-current assets
Total of non-current assets 1442386244.03 1440827926.85
Total of assets 3858690768.56 3591226672.71
Current liabilities
Short-term loans 200256666.67 300442988.19
Transactional financial liabilities
Derivative financial liabilities
Notes payable
Account payable 606941.85 606941.85
Prepayment received 708863.49 746761.55
Contract liabilities
Employees' wage payable 1254349.93 3215013.16
Taxes payable 484036.82 312647.89
Other payables 696597777.98 109837934.17
Including: interest payable
Dividend payable
Liabilities held for sales
Non-current liabilities due in 1
year
380572858.33 520872206.95
Other current liabilities
Total current liabilities 1280481495.07 936034493.76
Non-current liabilities:
Long-term loans 70000000.00
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 64276220.28 64351075.92
Other non-current liabilities
Total of non-current liabilities 64276220.28 134351075.92
Total liabilities 1344757715.35 1070385569.68
Owner’s equity:
Share capital 1123384189.00 1123384189.00
Other equity instruments
Including: preferred stock
Perpetual bond
Capital reserves 360835.52 360835.52
Less: Shares in stock
Other miscellaneous income 1287629.38 1287629.38
Special reserves
Surplus reserve 159805930.34 159805930.34
Undistributed profit 1229094468.97 1236002518.79
Total of owners’ equity 2513933053.21 2520841103.03
Total of liabilities and owner’s interest 3858690768.56 3591226672.71
3. Consolidated Income Statement
In RMB
Item Amount occurred in the current period Occurred in previous period
1. Total revenue 413826888.79 670452093.70
Incl. Business income 413826888.79 670452093.70
Interest income
Insurance fee earned
Fee and commission
received
2. Total business cost 394659366.67 590046791.08
Incl. Business cost 314413603.27 467237374.40
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 3390682.90 33241693.55
Sales expense 8076166.66 12854606.25
Administrative expense 31000994.73 48521803.12
R&D cost 14980824.81 4150525.60
Financial expenses 22797094.30 24040788.16
Including: interest cost 22193016.28 18523514.10
Interest income 2199503.22 1220042.73
Add: other gains 1234219.99 2764802.92
Investment gains (“-” for loss) 241358.65 2241105.98
Incl. Investment gains from
affiliates and joint ventures
-168943.59 -530564.20
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)
4128.92
Credit impairment ("-" for loss) 93078793.56 3514366.55
Investment impairment loss
("-" for loss)
Investment gains ("-" for loss) -18130.72
3. Operational profit ("-" for loss) 113726023.24 88907447.35
Plus: non-operational income 106391.56 875385.81
Less: non-operational expenditure 3026114.28 271123.59
4. Gross profit ("-" for loss) 110806300.52 89511709.57
Less: Income tax expenses 16037544.87 19513176.48
5. Net profit ("-" for net loss) 94768755.65 69998533.09
(1) By operating consistency
1. Net profit from continuous
operation ("-" for net loss)
94768755.65 69998533.09
2. Net profit from discontinuous
operation ("-" for net loss)
(2) By ownership
1. Net profit attributable to the
owners of parent company
94777419.75 69998533.09
2. Minor shareholders’ equity -8664.10
6. After-tax net amount of other misc.
incomes
-13049080.39 836382.73
After-tax net amount of other misc.
incomes attributed to parent's owner
-13049080.39 836382.73
(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
-13049080.39 836382.73
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 -12650960.02 1029625.00
6.外币财务报表折算差额 -398120.37 -193242.27
7.其他
After-tax net of other misc. income
attributed to minority shareholders
7. Total of misc. incomes 81719675.26 70834915.82
Total of misc. incomes attributable
to the owners of the parent company
81728339.36 70834915.82
Total misc gains attributable to the
minor shareholders
-8664.10
8. Earnings per share:
(1) Basic earnings per share 0.08 0.06
(2) Diluted earnings per share 0.08 0.06
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 6518715.41 9808576.55
Less: Operation cost 38161.28 2950845.09
Taxes and surcharges 320625.81 323222.03
Sales expense
Administrative expense 6007355.43 6952633.68
R&D cost
Financial expenses 9528622.34 8008968.34
Including: interest cost 10094338.89 6297956.94
Interest income 571446.30 241185.83
Add: other gains 70235.05 200000.00
Investment gains (“-” for loss) 125658.72 982583.57
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)
-6241.41 4480.08
Investment impairment loss
("-" for loss)
Investment gains ("-" for loss)
2. Operational profit (“-” for loss) -9186397.09 -7240028.94
Plus: non-operational income 8947.57
Less: non-operational expenditure 6388.64
4. Gross profit ("-" for loss) -9186397.09 -7237470.01
Less: Income tax expenses -2278347.27 -1789154.52
4. Net profit (“-” for net loss) -6908049.82 -5448315.49
(1) Net profit from continuous
operation ("-" for net loss)
-6908049.82 -5448315.49
(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 -6908049.82 -5448315.49
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
552621802.47 598615290.91
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 1811320.46 901931.07
Other cash received from business
operation
72333751.51 21534849.71
Sub-total of cash inflow from business
operations
626766874.44 621052071.69
Cash paid for purchasing products
and services
606808963.41 557177871.33
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 99253547.69 92365794.06
Taxes paid 31853052.06 70963606.86
Other cash paid for business
activities
227956358.27 196782535.40
Sub-total of cash outflow from business
operations
965871921.43 917289807.65
Cash flow generated by business
operations net
-339105046.99 -296237735.96
2. Cash flow generated by investment:
Cash received from investment
recovery
1344500000.00 973200000.00
Cash received as investment profit 8789161.18 2771670.18
Net cash retrieved from disposal of
fixed assets intangible assets and other
long-term assets
13225019.48
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
1353289411.18 989196689.66
Cash paid for construction of fixed
assets intangible assets and other
long-term assets
59588664.45 49192556.62
Cash paid as investment 1196460000.00 1193400000.00
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 1256048664.45 1242592556.62
Cash flow generated by investment
activities net
97240746.73 -253395866.96
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
1725388124.18 600000000.00
Other cash received from financing
activities
39406.61
Subtotal of cash inflow from financing
activities
1725388124.18 600039406.61
Cash paid to repay debts 1403978153.39 58000000.00
Cash paid as dividend profit or
interests
24999493.27 249442954.36
Including: dividends and profits
paid by subsidiaries to minority
shareholders
Other cash paid for financing
activities
Subtotal of cash outflow from financing
activities
1428977646.66 307442954.36
Net cash flow generated by financing
activities
296410477.52 292596452.25
4. Influence of exchange rate changes
on cash and cash equivalents
467765.09 -844162.82
5. Net increase in cash and cash
equivalents
55013942.35 -257881313.49
Plus: Balance of cash and cash
equivalents at the beginning of term
725269902.90 956190890.68
6. Balance of cash and cash equivalents
at the end of the period
780283845.25 698309577.19
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
3513156.36 7829887.29
Tax refunded
Other cash received from business
operation
2136488278.30 857398618.28
Sub-total of cash inflow from business
operations
2140001434.66 865228505.57
Cash paid for purchasing products
and services
29756.47 1486439.86
Cash paid to and for the staff 6328845.37 5580350.62
Taxes paid 399458.88 802896.19
Other cash paid for business
activities
1707124112.24 863556002.15
Sub-total of cash outflow from business
operations
1713882172.96 871425688.82
Cash flow generated by business
operations net
426119261.70 -6197183.25
2. Cash flow generated by investment:
Cash received from investment
recovery
364500000.00 518000000.00
Cash received as investment profit 125658.72 982583.57
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
364625658.72 518982583.57
Cash paid for construction of fixed
assets intangible assets and other
long-term assets
6250.00 18000.00
Cash paid as investment 364500000.00 518000000.00
Net cash paid for acquiring
subsidiaries and other operational units
Other cash paid for investment
Subtotal of cash outflows 364506250.00 518018000.00
Cash flow generated by investment
activities net
119408.72 964583.57
3. Cash flow generated by financing
activities:
Cash received from investment
Cash received from borrowed
loans
200000000.00 400000000.00
Other cash received from financing
activities
39406.61
Subtotal of cash inflow from financing
activities
200000000.00 400039406.61
Cash paid to repay debts 510000000.00
Cash paid as dividend profit or
interests
10580009.03 230221221.83
Other cash paid for financing
activities
Subtotal of cash outflow from financing
activities
520580009.03 230221221.83
Net cash flow generated by financing
activities
-320580009.03 169818184.78
4. Influence of exchange rate changes
on cash and cash equivalents
576.24
5. Net increase in cash and cash
equivalents
105658661.39 164586161.34
Plus: Balance of cash and cash
equivalents at the beginning of term
175341953.63 281594621.80
6. Balance of cash and cash equivalents
at the end of the period
281000615.02 446180783.14
II. Financial Statement Adjustment
1. The first implementation of the new financial instruments guidelines new income standards new lease
standards adjustments the first implementation of the financial statements at the beginning of the year
√ Applicable □ Inapplicable
Consolidated Balance Sheet
In RMB
Item 31 December 2019 01/01/2020 Adjustment
Current asset:
Monetary capital 1209811978.95 1209811978.95
Settlement provision
Outgoing call loan
Transactional financial
assets
10330062.18 10330062.18
Derivative financial
assets
Notes receivable 305070930.97 305070930.97
Account receivable 1956191307.07 486113221.52 -1470078085.55
Receivable financing 2954029.00 2954029.00
Prepayment 21327109.18 21327109.18
Insurance receivable
Reinsurance receivable
Provisions of
Reinsurance contracts
receivable
Other receivables 139947655.35 139947655.35
Including: interest
receivable
Dividend
receivable
Repurchasing of
financial assets
Inventory 733711143.46
Contract assets 1470078085.55 1470078085.55
Assets held for sales
Non-current assets due
in 1 year
Other current assets 323765585.90 323765585.90
Total current assets 4703109802.06 4703109802.06
Non-current assets:
Loan and advancement
provided
Debt investment
Other debt investment
Long-term receivables
Long-term share equity
investment
57222240.83 57222240.83
Investment in other
equity tools
20660181.44 20660181.44
Other non-current
financial assets
5009728.02 5009728.02
Investment real estate 5522391984.11 5522391984.11
Fixed assets 477332830.92 477332830.92
Construction in process 129988982.86 129988982.86
Productive biological
assets
Gas & petrol
Use right assets
Intangible assets 78322265.05 78322265.05
R&D expense
Goodwill
Long-term amortizable
expenses
3875198.12 3875198.12
Deferred income tax
assets
343349564.70 343349564.70
Other non-current assets 28701802.00 28701802.00
Total of non-current assets 6666854778.05 6666854778.05
Total of assets 11369964580.11 11369964580.11
Current liabilities
Short-term loans 724618197.34 724618197.34
Loans from Central
Bank
Call loan received
Transactional financial
liabilities
Derivative financial
liabilities
96767.62 96767.62
Notes payable 578816027.44 578816027.44
Account payable 1190773300.24 1190773300.24
Prepayment received 136340104.73 1332457.45 -135007647.28
Contract liabilities 123981276.51 123981276.51
Selling of repurchased
financial assets
Deposit received and
held for others
Entrusted trading of
securities
Entrusted selling of
securities
Employees' wage
payable
55847134.20 55847134.20
Taxes payable 17848987.68 17848987.68
Other payables 701432408.28 701432408.28
Including: interest
payable
Dividend
payable
Fees and commissions
payable
Reinsurance fee payable
Liabilities held for sales
Non-current liabilities
due in 1 year
922346563.72 922346563.72
Other current liabilities 181694574.47 192720945.24 11026370.77
Total current liabilities 4509814065.72
Non-current liabilities:
Insurance contract
provision
Long-term loans 546501491.56 546501491.56
Bond payable
Including: preferred
stock
Perpetual
bond
Lease liabilities
Long-term payable
Long-term employees’
wage payable
Anticipated liabilities 7793527.16 7793527.16
Deferred earning 10817247.40 10817247.40
Deferred income tax
liabilities
1063833159.00 1063833159.00
Other non-current
liabilities
Total of non-current
liabilities
1628945425.12 1628945425.12
Total liabilities 6138759490.84 6138759490.84
Owner’s equity:
Share capital 1123384189.00 1123384189.00
Other equity instruments
Including: preferred
stock
Perpetual
bond
Capital reserves 1454191.59 1454191.59
Less: Shares in stock
Other miscellaneous
income
-475409.25 -475409.25
Special reserves
Surplus reserve 159805930.34 159805930.34
Common risk provisions
Undistributed profit 3898626177.99 3898626177.99
Total of owner’s equity
belong to the parent company
5182795079.67 5182795079.67
Minor shareholders’
equity
48410009.60 48410009.60
Total of owners’ equity 5231205089.27 5231205089.27
Total of liabilities and
owner’s interest
11369964580.11 11369964580.11
About the adjustment
Balance Sheet of the Parent Company
In RMB
Item 31 December 2019 01/01/2020 Adjustment
Current asset:
Monetary capital 175591953.63 175591953.63
Transactional financial
assets
Derivative financial
assets
Notes receivable
Account receivable 297813.76 297813.76
Receivable financing
Prepayment 250205.32 250205.32
Other receivables 1973381342.74 1973381342.74
Including: interest
receivable
Dividend
receivable
Inventory
Contract assets
Assets held for sales
Non-current assets due
in 1 year
Other current assets 877430.41 877430.41
Total current assets 2150398745.86 2150398745.86
Non-current assets:
Debt investment
Other debt investment
Long-term receivables
Long-term share equity
investment
963508253.00 963508253.00
Investment in other
equity tools
18604010.22 18604010.22
Other non-current
financial assets
48831242.35 48831242.35
Investment real estate 295355002.00 295355002.00
Fixed assets 67361529.52 67361529.52
Construction in process
Productive biological
assets
Gas & petrol
Use right assets
Intangible assets 1824589.22 1824589.22
R&D expense
Goodwill
Long-term amortizable
expenses
934669.73 934669.73
Deferred income tax
assets
44408630.81 44408630.81
Other non-current assets
Total of non-current assets 1440827926.85 1440827926.85
Total of assets 3591226672.71 3591226672.71
Current liabilities
Short-term loans 300442988.19 300442988.19
Transactional financial
liabilities
Derivative financial
liabilities
Notes payable
Account payable 606941.85 606941.85
Prepayment received 746761.55 746761.55
Contract liabilities
Employees' wage
payable
3215013.16 3215013.16
Taxes payable 312647.89 312647.89
Other payables 109837934.17 109837934.17
Including: interest
payable
Dividend
payable
Liabilities held for sales
Non-current liabilities
due in 1 year
520872206.95 520872206.95
Other current liabilities
Total current liabilities 936034493.76 936034493.76
Non-current liabilities:
Long-term loans 70000000.00 70000000.00
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
64351075.92 64351075.92
Other non-current
liabilities
Total of non-current
liabilities
134351075.92 134351075.92
Total liabilities 1070385569.68 1070385569.68
Owner’s equity:
Share capital 1123384189.00 1123384189.00
Other equity instruments
Including: preferred
stock
Perpetual
bond
Capital reserves 360835.52 360835.52
Less: Shares in stock
Other miscellaneous
income
1287629.38 1287629.38
Special reserves
Surplus reserve 159805930.34 159805930.34
Undistributed profit 1236002518.79 1236002518.79
Total of owners’ equity 2520841103.03 2520841103.03
Total of liabilities and
owner’s interest
3591226672.71 3591226672.71
About the adjustment
As of January 1 2020 the Company has implemented new revenue guidelines listed the assigned goods or services entitled to
receive consideration as contractual assets and has been recognized as accounts receivable upon acquisition of unconditional
collection rights; The non-leased portion of the advances is included in the contractual liability and the tax portion is included in the
other current liabilities.
2. Description of the 2020 first implementation of the new Income criteria 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.
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