Tunghsu Optoelectronic Technology Co. Ltd.Main Performance Report 2019
April 2020
Contents
I.Important Notice ......................................................................................................................... 2
II.Basic information about the company ................................................................................. 4
III. Significant Events .................................................................................................................. 6
IV. Financial Statement ............................................................................................................. 10
I. Important Notice
The Board of Directors Supervisory Committee all directors supervisors
and senior executives of the Company hereby guarantees that there are no
misstatement misleading representation significant differences with the audit
annual report or important omissions in this report and shall assume joint and
several liability for the authenticity accuracy and completeness of the contents
hereof.II. Basic information about the company
I. Main financial data and financial index
Indicate by tick mark whether the Company needs to retroactively restate any of its accounting data.□ Yes √ No
Reporting Period Same period of last year
Changed（%）over end of
prev. year
Operating revenue (Yuan) 16693053104.79 28211700021.12 -40.83%
Net profit attributable to the shareholders
of the listed company（Yuan）
-1141678409.22 2163607505.39 -152.77%
Net profit after deducting of non-recurring
gain/loss attributable to the shareholders of
listed company（Yuan）
-1462689608.29 2045875472.28 -171.49%
Net cash generated from /used in operating
activities（Yuan）
-4103315519.05 388252004.52 -1156.87%
Basic earning per share(Yuan/Share) -0.20 0.38 -152.63%
Diluted gains per share(Yuan/Share) -0.20 0.38 -152.63%
Weighted average return on equity -3.60% 6.83% -10.43%
As at the end of the
reporting period
As at the end of last year
Changed（%）over end of
prev. year
Gross assets（Yuan） 69628320928.19 72576122859.60 -4.06%
Net assets attributable to the shareholders of
the listed company（Yuan）
31020123473.81 32521130925.14 -4.62%
II. Total Shareholders and Shares Held by Top Ten Shareholders at the End of the Reporting Period
1. About Total Common Shareholders Total Preference Shareholders with the Voting Power Recovered
and the Shares Held by Top Ten Common Shareholders
In shares
Total number of common shareholders at the
period-end
409902 (including
393031 shareholders
holding A shares and
16871 shareholders
holding B shares)
Total preference shareholders
with the voting power
recovered at the end of the
reporting period(if any)
0
Shares held by the top 10 shareholders
Shareholder name
Properties of
shareholder
Share
proportion %
Quantity
Amount of
tradable
shares with
Conditional
held
Pledging or freezing
Status of the
shares
Quantity
Tunghsu Group Co. Ltd. Domestic Non - 15.97% 915064091 352006791 Pledge 799643042
State-owned
legal person
Freezing 915064091
Shijiazhuang Baoshi
Electronic Group Co. Ltd.
Domestic Non -
State-owned
legal person
5.80% 332382171 Pledge 153520000
Shanghai Huimao
Enterprise Management
Co. Ltd.
Domestic Non -
State-owned
legal person
4.58% 262626262 262626262 Pledge 80000000
Shenzhen Taianer
Information Technology
Co. Ltd.
Domestic Non -
State-owned
legal person
1.07% 61165682 Pledge 61165682
Hong Kong Securities
Clearing Co. Ltd.
Overseas Legal
person
0.95% 54659412
Kunshan Development
Zone State-Owned
Investment Holding Co.Ltd.State-owned
legal person
0.73% 41838269
Tunghsu Optoelectronic
Technology Co. Ltd.－
The first ESOP
Other 0.62% 35614131
Beixin Ruifeng Fund－
China Merchants Bank－
Daye Trust－Daye
Trust·Profit increase 3
single fund plan
Other 0.54% 31095032
China Securities Finance
Co. Ltd.
Domestic Non -
State-owned
legal person
0.54% 30906112
Mianyang Science and
Technology Development
Investment(Group)Co.Ltd
State-owned
legal person
0.20% 11380165 Pledge 11380000
Shares held by the Top 10 Shareholders of Non-restricted shares
Shareholders’ Names Number of the non-restricted shares held
Share type
Share type Quantity
Tunghsu Group Co. Ltd. 563057300
RMB Common
shares
563057300
Shijiazhuang Baoshi Electronic Group Co.Ltd.
332382171
RMB Common
shares
332382171
Shenzhen Taianer Information Technology
Co. Ltd.
61165682
RMB Common
shares
61165682
Hong Kong Securities Clearing Co. Ltd. 54659412 RMB Common 54659412
shares
Kunshan Development Zone State-Owned
Investment Holding Co. Ltd.
41838269
RMB Common
shares
41838269
Tunghsu Optoelectronic Technology Co. Ltd.－The first ESOP
35614131
RMB Common
shares
35614131
Beixin Ruifeng Fund－China Merchants Bank
－Daye Trust－Daye Trust·Profit increase 3
single fund plan
31095032
RMB Common
shares
31095032
China Securities Finance Co. Ltd. 30906112
RMB Common
shares
30906112
Mianyang Science and Technology
Development Investment(Group)Co.Ltd
11380165
RMB Common
shares
11380165
Industrial and Commercial Bank of China Co.Ltd.- Huatai Borui Husheng 300 Exchange
Traded Fund
10882353
RMB Common
shares
10882353
Explanation on shareholders participating in
the margin trading business
Among the top ten shareholders Tunghsu Group and Baoshi Group have
relationship and constitute persons taking concerted action. The company does
not know whether there is relationship between other 8 shareholders or whether
they are persons taking concerted action defined in Administrative Measures
Relating to Acquisitions of Listed Companies
Participation of top 10 unconditional common
share shareholders in securities margin trading
(if any)
In the top ten shareholders Baoshi Group is participating in the margin trading
business through Southwest Securities on the credit account including
178856500 shares.
Whether top ten common shareholders or top ten common shareholders with un-restrict shares held have a buy-
back agreement dealing in reporting period.□ Yes √ No
The top ten common shareholders or top ten common shareholders with un-restrict shares held of the Company
have no buy –back agreement dealing in reporting period.
2.Total number of preferred shareholders and shareholding of top 10 preferred shareholders by the end of
the report period
□ Applicable √Not applicable
III Significant Events
I. Major changes of main accounting statement items and financial indicators in the reporting
period as well as reasons for the changes
√ Applicable □ Not applicable
No Items Ending balance Opening balance Changes Remarks on the change
1
Cash and bank
balances
11580819578.44 19807094397.16 -41.53%
Mainly due to the purchase of raw
materials and equipment
2
Non-current liability
due within 1 year
7841514464.78 3697392864.91 112.08%
Mainly due to the reclassification of debt
3 Bond payable 301145832.60 5630818825.32 -94.65% Mainly due to the reclassification of debt
4
Impairment loss of
assets
-1223841304.69 -93480733.09 1209.19%
Mainly due to the amortization of good
will and assets
5 Prepayments
8993206274.68 5215414219.51
72.44%
Mainly due to the purchase of raw
materials and equipment
6
Other accounts
receiveble
4831348641.69 1125991020.55 32.9.08%
Mainly due to the accounts receivable
from external business activity
No Items
Year-beginning to
the end of the report
period
Same period of last
year
Changes Remarks on the change
1 Revenue 16693053104.79 28211700021.12 -40.83%
The main reason are 1、Companyoptimized the product structure and
concentrated the resources to strengthen
the quality product development. 2、Revenue decreased by a great amount due
to the debt default.
2 Operating costs 13986404125.31 23204078792.38 -39.72%
Mainly due to corresponding changes in
business income
3 Other income 470114188 251303953 87.07%
Mainly due to the increase in government
grant
II. The progress of significant events and influence as well as the analysis and explanation on
resolving proposal.
√ Applicable □ Not applicable
On 18 Nov. 2019 and 2 Dec. 2019 due to the situation of short-term illiquidity company failed to fully repay the interest and
repurchased principal of the medium term note on 2016 including the first period(note abbreviation:16 Tunghsu Optoelectronic
MTN001B note code:101659065)and the second period((note abbreviation:16 Tunghsu Optoelectronic MTN002 note
code:101659066) in time.The Committee of debt is designated to manage、coordinate and resolve the repayment of the medium term notes.Meanwhile management is thriving to lower costs and improve efficiency. The board is also carrying forward various measures:1、Speeding up the collection of accounts receivables 2、Improving liquidity through multi-channels of financing 3、Negotiatingwith the bondholders for more support of liquidity 4、Negotiating with banks for un-restrict of restricted funds. 5、Raising funds byliquidating non-operating business lines.Significant Events Disclosure Date Basic Index
Announcement of failure to repay the interests and repurchased
principal of medium term note of the first period on 2016 in time
19 Nov. 2019
China money website：
www.chinamoney.com.cn
Suggestive Announcement of failure to repay the interests of
medium term note of the first period on 2016 in time
19 Nov. 2019
Juchao website：
www.cninfo.com.cn
Special Suggestive Announcement of uncertainty to repay the
interests and repurchased principal of medium term note of the
second period on 2016
25 Nov. 2019
China money website：
www.chinamoney.com.cn
Announcement of bondholders’ meeting of Tunghsu Optoelectronic
Technology Co. medium term note on 2016 including the first
period and the second period
25 Nov. 2019
China money website：
www.chinamoney.com.cn
Announcement of failure to repay the interests of medium term
note of the second period on 2016 in time
2 Dec. 2019
China money website：
www.chinamoney.com.cn
Suggestive Announcement of failure to repay the interests of
medium term note of the second period on 2016
3 Dec. 2019
Juchao website：
www.cninfo.com.cn
Announcement of bondholders’ meeting of Tunghsu Optoelectronic
Technology Co. medium term note on 2016 including the first
period and the second period
17 Dec. 2019
China money website：
www.chinamoney.com.cn
Announcement of reply for resolution by medium term note
including first period bondholders’ meeting
17 Dec. 2019
China money website：
www.chinamoney.com.cn
Progress in the implementation of share repurchase
□ Applicable √ Not applicable
Progress in the implementation of the reduction of the repurchased shares by means of centralized bidding
□ Applicable √ Not applicable
III. Commitments finished in implementation by the Company shareholders actual controller
acquirer directors supervisors senior executives or other related parties in the reporting
period and commitments unfinished in implementation at the end of the reporting period
□ Applicable √Not applicable
The company has no commitments completed during the report period and those without completed till lend of the
period from actual controller shareholders related parties purchaser and companies.IV. External guarantee get out of line
□ Applicable √Not applicable
The Company has no external guarantee get out of the line during the report period
V. Controlling shareholder and its related parties occupying non-business capital of the listed
company
□ Applicable √Not applicable
There are no controlling shareholder and its related parties occupying non-business capital of the listed company during the report
period.IV. Financial Statement
I. Financial statement
1、 Consolidated balance sheet
Prepared by：Tunghsu Optoelectronic Technology Co. Ltd.
December 312019
In RMB
Items December 312019 December 312018
Current asset：
Cash and bank balances 11580819578.44 19807094397.16
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 34510584.50 499781503.17
Account receivable 11496500929.28 14352781895.39
Financing of receivables 1712996551.15
Prepayments 8993206274.68 5215414219.51
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance contracts
receivable
Other account receivable 4831348641.69 1125991020.55
Including：Interest receivable 2325948.16 56811961.67
Dividend receivable 11585960.88
Repurchasing of financial assets
Inventories 4326590183.49 3510786666.85
Contract assets
Assets held for sales 119355435.58 119355435.58
Non-current asset due within 1 year
Other current asset 837951546.82 809360778.49
Total of current assets 43933279725.63 45440565916.70
Non-current assets：
Loans and payment on other’s behalf
disbursed
Debt investment
Available for sale of financial assets 243158605.30
Other investment on bonds
Expired investment in possess
Long-term receivable 30615887238 344430815.68
Long term share equity investment 2207456475.75 2174347969.22
Other equity instruments investment
Other non-current financial assets 248158605.30
Property investment 695653870.87 686993881.02
Fixed assets 9075392171.23 9634463323.77
Construction in progress 4856161438.68 5013941980.61
Production physical assets
Oil & gas assets
Use right assets
Intangible assets 1061801667.12 1146949745.14
Development expenses 44748355.95 37122235.94
Goodwill 1995588453.44 2835672586.90
Long-germ expenses to be amortized 21707770.53 21884204.82
Deferred income tax asset 430229031.02 533094627.68
Other non-current asset 4751984490.29 4463496966.82
Total of non-current assets 25695041202.56 27135556942.90
Total of assets 69628320928.19 72576122859.60
Current liabilities
Short-term loans 9807921003.28 8361106651.33
Loan from Central Bank
Borrowing funds
Transactional financial liabilities
Financial liabilities measured at fair
value with variations accounted into
current income account
Derivative financial liabilities
Notes payable 850447788.10 1643167026.68
Account payable 7007558192.78 8632927106.20
Advance receipts 1652587387.44 1402283662.37
Contract Liabilities
Selling of repurchased financial assets
Deposit taking and interbank deposit
Entrusted trading of securities
Entrusted selling of securities
Employees’ wage payable 206227756.49 238146977.17
Tax payable 339813007.03 817173127.12
Other account payable 3693138656.67 2089603676.60
Including：Interest payable 452834591.96 117554951.58
Dividend payable 66278190.37
Fees and commissions payable
Reinsurance fee payable
Liabilities held for sales
Non-current liability due within 1 year 7841514464.78 3697392864.91
Other current liability 454404004.66 315193128.73
Total of current liability 31853612261.23 27196994221.11
Non-current liabilities：
Reserve fund for insurance contracts
Long-term loan 3003722151.74 2741589600.00
Bond payable 301145832.60 5630818825.32
Including：preferred stock
Sustainable debt
Lease liability
Long-term payable 1077918138.44 2644309592.95
Long-term remuneration payable to
staff
Expected liabilities 124239165.21 99765750.04
Deferred income 713023519.35 676146399.31
Deferred income tax liability 54472480.31 55192983.97
Other non-current liabilities 508000000.00 108000000.00
Total non-current liabilities 5782521287.65 11955823151.59
Total of liability 37636133548.88 39152817372.70
Owners’ equity
Share capital 5730250118.00 5730250118.00
Other equity instruments
Including：preferred stock
Sustainable debt
Capital reserves 21812136465.66 21786233393.78
Less：Shares in stock 4422320.00 4422320.00
Other comprehensive income -29175.80 -29175.80
Special reserve 28499725.62 12614331.35
Surplus reserves 245507019.95 245507019.95
Common risk provision
Retained profit 3208181640.38 4750977557.86
Total of owner’s equity belong to the
parent company
31020123473.81 32521130925.14
Minority shareholders’ equity 972063905.50 902174561.76
Total of owners’ equity 31992187379.31 33423305486.90
Total of liabilities and owners’ equity 69628320928.19 72576122859.60
Legal representative：Guo Xuan
Person-in-charge of the accounting work：Wang Qin
Person-in -charge of the accounting organ：Wang Qin
2.Balance sheet of Parent Company
In RMB
Items December 312019 December 31 2018
Current asset：
Cash and bank balances 4700601207.82 9732302654.23
Transactional financial assets
Financial assets measured at fair value
with variations accounted into current
income account
Derivative financial assets
Notes receivable 50000.00
Account receivable 236947979.44 176563926.23
Financing of receivables
Prepayments 1033942.61 2008364.11
Other account receivable 11551051968.51 6281675319.27
Including：Interest receivable 7521489.86
Dividend receivable 500000000.00 500000000.00
Inventories 193714314.48 269759580.95
Contract assets
Assets held for sales
Non-current asset due within 1 year
Other current asset 148973.38 148973.38
Total of current assets 16683498386.24 16462508818.17
Non-current assets：
Debt investment
Available for sale of financial assets 129500056.00
Other investment on bonds
Expired investment in possess
Long-term receivable
Long term share equity investment 28378702448.80 26504735200.89
Other equity instruments investment
Other non-current financial assets 129500056.00
Property investment
Fixed assets 145493375.51 160867244.63
Construction in progress
Production physical assets
Oil & gas assets
Use right assets
Intangible assets 8991679.94 9339387.26
Development expenses
Goodwill
Long-germ expenses to be amortized
Deferred income tax asset 119964967.85
Other non-current asset 300000000.00
Total of non-current assets 28962687560.25 26924406856.63
Total of assets 45646185946.49 43386915674.80
Current liabilities
Short-term loans 6507370461.11 4278000000.00
Transactional financial liabilities
Financial liabilities measured at fair
value with variations accounted into
current income account
Derivative financial liabilities
Notes payable
Account payable 8663754.33 11500796.58
Advance receipts 842498.78 1991498.78
Contract Liabilities
Employees’ wage payable 5226344.53 4484401.86
Tax payable 16766064.54 17959833.09
Other account payable 4861267706.46 3656725253.66
Including：Interest payable 426748970.50 97197464.99
Dividend payable 66278190.37
Liabilities held for sales
Non-current liability due within 1 year 6097417230.96 1533383333.28
Other current liability
Total of current liability 17497554060.71 9504045117.25
Non-current liabilities：
Long-term loan 495175833.33
Bond payable 5630818825.32
Including：preferred stock
Sustainable debt
Lease liability
Long-term payable
Long-term remuneration payable to staff
Expected liabilities 54389500.40
Deferred income
Deferred income tax liability
Other non-current liabilities
Total non-current liabilities 549565333.73 5630818825.32
Total of liability 18047119394.44 15134863942.57
Owners’ equity
Share capital 5730250118.00 5730250118.00
Other equity instruments
Including：preferred stock
Sustainable debt
Capital reserves 21832453907.50 21832453907.50
Less：Shares in stock 4422320.00 4422320.00
Other comprehensive income
Special reserve
Surplus reserves 226517795.62 226517795.62
Retained profit -185732949.07 467252231.11
Total of owners’ equity 27599066552.05 28252051732.23
Total of liabilities and owners’ equity 45646185946.49 43386915674.80
3. Consolidated Income statement of the Report period
In RMB
Items 2019 2018
I. Turnover 16693053104.79 28211700021.12
Including ：Operating income 16693053104.79 28211700021.12
Interest income
Insurance fee earned
Fee and commission received
II. Total operating costs 16657715765.25 25724302978.59
Including ：Operating costs 13986404125.31 23204078792.38
Interest expense
Fee and commission paid
Insurance discharge payment
Net claim amount paid
Appropriation of deposit for duty net
Insurance policy dividend paid
Reinsurance expenses
Business tax and surcharge 79193265.82 237483799.16
Sales expense 366155679.99 334476301.51
Administrative expense 651448841.65 653479277.58
R & D expense 509485446.56 572089634.30
Financial expenses 1065028405.92 722695173.66
Including：Interest expense 1376228902.96 1204287050.60
Interest income 320733545.74 506083846.24
Add：Other income 470114187.92 251303953.08
Investment gain（“-”for loss） 146500470.00 80925191.79
Including:investment gains from affiliates 3708506.53 64366051.65
Financial assets measured at amortized
cost cease to be recognized as income
Gains from currency exchange
Net exposure hedging income
Changing income of fair value
Credit impairment loss -196906173.18
Impairment loss of assets -1223841304.69 -93480733.09
Assets disposal income 3985207.82 1515607.51
III. Operating profit（“-”for loss） -764810272.59 2727661061.82
Add ：Non-operating income 11182008.02 19063270.76
Less: Non-operating expenses 8106397.87 8892705.00
IV. Total profit(“-”for loss) -761734662.44 2737831627.58
Less：Income tax expenses 351461632.35 469003541.40
V. Net profit -1113196294.79 2268828086.18
(I) Classification by business continuity
1.Net continuing operating profit -1113196294.79 2268828086.18
2.Termination of operating net profit
(II) Classification by ownership
1.Net profit attributable to the owners of
parent company
-1141678409.22 2163607505.39
2.Minority shareholders’ equity 28482114.43 105220580.79
VI. Net after-tax of other comprehensive
income
-42240.07
Net of profit of other comprehensive
income attributable to owners of the
parent company.
-24657.35
（I）Other comprehensive income items
that will not be reclassified into
gains/losses in the subsequent accounting
period
1.Re-measurement of defined benefit
plans of changes in net debt or net assets
2.Other comprehensive income under the
equity method investee can not be
reclassified into profit or loss.
3.Changes in the fair value of investments
in other equity instruments
4.Changes in the fair value of the
company’s credit risks
5.Other（II）Other comprehensive income that
will be reclassified into profit or loss.
-24657.3
1.Other comprehensive income under the
equity method investee can be reclassified
into profit or loss.
2.Changes in the fair value of investments
in other debt obligations
3.Gains and losses from changes in fair
value available for sale financial assets
4.Other comprehensive income arising
from the reclassification of financial
assets
5.Held-to-maturity investments
reclassified to gains and losses of
available for sale financial assets
6. Allowance for credit impairments in
investments in other debt obligations
7. Reserve for cash flow hedges
8.Translation differences in currency
financial statements
-24657.35
9.Other
Net of profit of other comprehensive
income attributable to Minority
shareholders’ equity
-17582.72
VII. Total comprehensive income -1113196294.79 2268785846.11
Total comprehensive income attributable
to the owner of the parent company
-1141678409.22 2163582848.04
Total comprehensive income attributable
minority shareholders
28482114.43 105202998.07
VIII. Earnings per share
（I）Basic earnings per share -0.20 0.38
(II)Diluted earnings per share -0.20 0.38
The current business combination under common control the net profits of the combined party before achieved
net profit of 0 RMB last period the combined party realized 0 RMB
Legal representative：Guo Xuan
Person-in-charge of the accounting work：Wang Qin
Person-in -charge of the accounting organ：Wang Qin
4. Income statement of the Parent Company of the Report period
In RMB
Items 2019 2018
I. Revenue 119742689.07 192196941.80
Including ：Operating costs 103952061.63 152993440.70
Business tax and surcharge 5954281.34 6644502.15
Sales expense
Administrative expense 28543415.08 39463721.23
R & D expense 4789707.54 8322311.54
Financial expenses 497605105.19 379774437.36
Including：Interest expenses 859969734.91 645866773.53
Interest income 364363229.58 275451910.63
Add：Other income 515094.34
Investment gain（“-”for loss） 388214447.92 556448607.09
Including: investment gains from
affiliates
5559747.91 64362875.25
Financial assets measured at amortized
cost cease to be recognized as income
Net exposure hedging income
Changing income of fair value
Credit impairment loss 3579.22
Impairment loss of assets 241.00 -10403118.18
Assets disposal income -83936.54
II. Operating profit（“-”for loss） -132368519.23 150960081.19
Add ：Non-operating income 488221.31 1125858.13
Less：Non -operating expenses 22406.15 212985.83
III. Total profit(“-”for loss) -131902704.07 151872953.49
Less：Income tax expenses 119964967.85 -61858997.38
IV. Net profit -251867671.92 213731950.87
1.Net continuing operating profit -251867671.92 213731950.87
2.Termination of operating net profit
V. Net after-tax of other comprehensive
income
（I）Other comprehensive income
items that will not be reclassified into
gains/losses in the subsequent
accounting period
1.Re-measurement of defined benefit
plans of changes in net debt or net
assets
2.Other comprehensive Income under
the equity method investee can not be
reclassified into profit or loss.
3. Changes in the fair value of
investments in other equity instruments
4. Changes in the fair value of the
company’s credit risks
5.Other（II）Other comprehensive income that
will be reclassified into profit or loss.
1.Other comprehensive income under
the equity method investee can be
reclassified into profit or loss.
2. Changes in the fair value of
investments in other debt obligations
3. Gains and losses from changes in fair
value available for sale financial assets
4. Other comprehensive income arising
from the reclassification of financial
assets
5.Held-to-maturity investments
reclassified to gains and losses of
available for sale financial assets
6. Allowance for credit impairments in
investments in other debt obligations
7. Reserve for cash flow hedges
8. Translation differences in currency
financial statements
9.Other
VI. Total comprehensive income -251867671.92 213731950.87
VII. Earnings per share
（I）Basic earnings per share
(II)Diluted earnings per share
5. Consolidated Cash Flow Statement Between the Beginning of the Year and End of the Report Period
In RMB
Items 2019 2018
I.Cash flows from operating activities
Cash received from sales of goods or
rending of services
20623886056.37 24460106952.41
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 from interest commission
charge and commission
Net increase of inter-bank fund received
Net increase of repurchasing business
Net cash received by agent in securities
trading
Tax returned 202890257.89 342117355.30
Other cash received from business
operation
783106250.58 1112750115.02
Sub-total of cash inflow 21609882564.84 25914974422.73
Cash paid for purchasing of
merchandise and services
22226028969.44 22506440909.95
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 for Outgoing call loan
Cash paid for interest processing fee
and commission
Cash paid for policy dividend
Cash paid to staffs or paid for staffs 995272200.41 1148904118.69
Taxes paid 931331308.85 874045127.91
Other cash paid for business activities 1560565605.19 997332261.66
Sub-total of cash outflow from business
activities
25713198083.89 25526722418.21
Net cash generated from /used in
operating activities
-4103315519.05 388252004.52
II. Cash flow generated by investing
Cash received from investment
retrieving
132409.88 2287107423.40
Cash received as investment gains 58433679.33 14623990.55
Net cash retrieved from disposal of fixed
assets intangible assets and other long-
term assets
29408165.39 1342541.78
Net cash received from disposal of
subsidiaries or other operational units
154925006.59 392179613.50
Other investment-related cash received 1190191465.50 2065561030.00
Sub-total of cash inflow due to
investment activities
1433090726.69 4760814599.23
Cash paid for construction of fixed
assets intangible assets and other
long-term assets
902482704.93 5397726636.77
Cash paid as investment 455992730.30 1100017546.00
Net increase of loan against pledge
Net cash received from subsidiaries and
other operational units
392683239.84
Other cash paid for investment activities 1167844251.94 4514811164.19
Sub-total of cash outflow due to
investment activities
2526319687.17 11405238586.80
Net cash flow generated by investment -1093228960.48 -6644423987.57
III.Cash flow generated by financing
Cash received as investment 542500000.00 29782250.00
Including: Cash received as investment
from minor shareholders
29000000.00
Cash received as loans 8417532338.36 9271938586.70
Other financing –related cash received 1052794962.73 1625337955.88
Sub-total of cash inflow from financing
activities
10012827301.09 10927058792.58
Cash to repay debts 9918818860.18 10790796153.46
Cash paid as dividend profit or interests 1338062578.26 1634663688.12
Including: Dividend and profit paid by
subsidiaries to minor shareholders
35000000.00
Other cash paid for financing activities 474836881.05 2448920714.02
Sub-total of cash outflow due to
financing activities
11731718319.49 14874380555.60
Net cash flow generated by financing -1718891018.40 -3947321763.02
IV. Influence of exchange rate
alternation on cash and cash equivalents
409376.97 5470280.86
V.Net increase of cash and cash
equivalents
-6915026120.96 -10198023465.21
Add: balance of cash and cash
equivalents at the beginning of term
14916637291.04 25114660756.25
VI..Balance of cash and cash equivalents
at the end of term
8001611170.08 14916637291.04
6. Cash Flow Statement of the Parent Between the Beginning of the Year and End of the Report Period
In RMB
Items 2019 2018
I.Cash flows from operating activities
Cash received from sales of goods or 102274090.42 72531777.31
rending of services
Tax returned
Other cash received from business
operation
2144645.64
Sub-total of cash inflow 104418736.06 72531777.31
Cash paid for purchasing of merchandise
and services
748978.76 39022885.88
Cash paid to staffs or paid for staffs 20233829.24 23420776.83
Taxes paid 33445022.70 17690820.97
Other cash paid for business activities 18250003.54 12832370.74
Sub-total of cash outflow from business
activities
72677834.24 92966854.42
Net cash generated from /used in
operating activities
31740901.82 -20435077.11
II.Cash flow generated by investing
Cash received from investment
retrieving
2788307423.40
Cash received as investment gains 678923452.07
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
400000000.00
Other investment-related cash received 16227894820.10 18756644994.40
Sub-total of cash inflow due to
investment activities
16627894820.10 22223875869.87
Cash paid for construction of fixed
assets intangible assets
and other long-term assets
56199.61
Cash paid as investment 2469000000.00 4234000000.00
Net cash received from subsidiaries and
other operational units
817834645.97
Other cash paid for investment activities 19647140159.42 20503969862.86
Sub-total of cash outflow due to
investment activities
22116140159.42 25555860708.44
Net cash flow generated by investment -5488245339.32 -3331984838.57
III. Cash flow generated by financing
Cash received as investment
Cash received as loans 5101000000.00 4858000000.00
Other financing –related ash received 6144034239.67 10928715830.12
Sub-total of cash inflow from financing
activities
11245034239.67 15786715830.12
Cash to repay debts 3614383333.28 6132307300.02
Cash paid as dividend profit or interests 773780284.26 1020777853.83
Other cash paid for financing activities 6472610288.16 6773267342.75
Sub-total of cash outflow due to
financing activities
10860773905.70 13926352496.60
Net cash flow generated by financing 384260333.97 1860363333.52
IV. Influence of exchange rate
alternation on cash and cash equivalents
V.Net increase of cash and cash
equivalents
-5072244103.53 -1492056582.16
Add: balance of cash and cash
equivalents at the beginning of term
9732302654.23 11224359236.39
VI.. Balance of cash and cash
equivalents at the end of term
4660058550.70 9732302654.23
II Adjustments to the Financial Statements
1. Adjustment of the relevant items of the financial statements at the current year beginning
according to the new standards for financial instruments the new standards for revenues
and the new standards for lease implemented commencing from year 2019
√ Applicable □ Not applicable\
Consolidated balance sheet
In RMB
Items December 312018 January 12019
Amount involved in the
adjustment
Current asset：
Cash and bank balances 19807094397.16 19807094397.16
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 499781503.17 499781503.17
Account receivable 14352781895.39 14352781895.39
Financing of receivables
Prepayments 5215414219.51 5215414219.51
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance
contracts receivable
Other account receivable 1125991020.55 1125991020.55
Including：Interest
receivable
56811961.67 56811961.67
Dividend receivable
Repurchasing of financial
assets
Inventories 3510786666.85 3510786666.85
Contract assets
Assets held for sales 119355435.58 119355435.58
Non-current asset due within
1 year
Other current asset 809360778.49 809360778.49
Total of current assets 45440565916.70 45440565916.70
Non-current assets：
Loans and payment on
other’s behalf disbursed
Debt investment
Available for sale of financial
assets
243158605.30 -243158605.30
Other investment on bonds
Expired investment in possess
Long-term receivable 344430815.68 344430815.68
Long term share equity
investment
2174347969.22 2174347969.22
Other equity instruments
investment
Other non-current financial
assets
243158605.30 243158605.30
Property investment 686993881.02 686993881.02
Fixed assets 9634463323.77 9634463323.77
Construction in progress 5013941980.61 5013941980.61
Production physical assets
Oil & gas assets
Use right assets
Intangible assets 1146949745.14 1146949745.14
Development expenses 37122235.94 37122235.94
Goodwill 2835672586.90 2835672586.90
Long-germ expenses to be
amortized
21884204.82 21884204.82
Deferred income tax asset 533094627.68 533094627.68
Other non-current asset 4463496966.82 4463496966.82
Total of non-current assets 27135556942.90 27135556942.90
Total of assets 72576122859.60 72576122859.60
Current liabilities
Short-term loans 8361106651.33 8361106651.33
Loan from Central Bank
Borrowing funds
Transactional financial
liabilities
Financial liabilities measured
at fair value with variations
accounted into current
income account
Derivative financial liabilities
Notes payable 1643167026.68 1643167026.68
Account payable 8632927106.20 8632927106.20
Advance receipts 1402283662.37 1402283662.37
Contract liabilities
Selling of repurchased
financial assets
Deposit taking and interbank
deposit
Entrusted trading of
securities
Entrusted selling of securities
Employees’ wage payable 238146977.17 238146977.17
Tax payable 817173127.12 817173127.12
Other account payable 2089603676.60 2089603676.60
Including：Interest payable 117554951.58 117554951.58
Dividend payable
Fees and commissions
payable
Reinsurance fee payable
Liabilities held for sales
Non-current liability due
within 1 year
3697392864.91 3697392864.91
Other current liability 315193128.73 315193128.73
Total of current liability 27196994221.11 27196994221.11
Non-current liabilities：
Reserve fund for insurance
contracts
Long-term loan 2741589600.00 2741589600.00
Bond payable 5630818825.32 5630818825.32
Including：preferred stock
Sustainable debt
Lease liability
Long-term payable 2644309592.95 2644309592.95
Long-term remuneration
payable to staff
Expected liabilities 99765750.04 99765750.04
Deferred income 676146399.31 676146399.31
Deferred income tax liability 55192983.97 55192983.97
Other non-current liabilities 108000000.00 108000000.00
Total non-current liabilities 11955823151.59 11955823151.59
Total of liability 39152817372.70 39152817372.70
Owners’ equity
Share capital 5730250118.00 5730250118.00
Other equity instruments
Including：preferred stock
Sustainable debt
Capital reserves 21786233393.78 21786233393.78
Less：Shares in stock 4422320.00 4422320.00
Other comprehensive income -29175.80 -29175.80
Special reserve 12614331.35 12614331.35
Surplus reserves 245507019.95 245507019.95
Common risk provision
Retained profit 4750977557.86 4750977557.86
Total of owner’s equity
belong to the parent company
32521130925.14 32521130925.14
Minority shareholders’ equity 902174561.76 902174561.76
Total of owners’ equity 33423305486.90 33423305486.90
Total of liabilities and
owners’ equity
72576122859.60 72576122859.60
Adjustment statement
According to the Accounting Standards for Business Enterprises No.22-Recognition and Measurement of
Financial Instruments (CK [2017] No.7) the Accounting Standards for Business Enterprises No.23-Transfer of
Financial Assets (CK [2017] No.8) the Accounting Standards for Business Enterprises No.24-Hedge Accounting
(CK [2017] No.9) Accounting Standard for Business Enterprises No.37-Presentation of Financial Instruments (CK
[2017] No.14) (hereinafter referred to as the new financial instruments standards) issued by the Ministry of Finance
in 2017 in combination with the company's business mode of managing financial assets and the contractual cash
flow characteristics of financial assets the original available-for-sale financial assets are adjusted to be accounted
for as financial assets measured at fair value with changes included in current profits and losses. Since the period is
more than one year it is listed as "other non-current financial assets" in the report.Parent Company Balance Sheet
In RMB
Items December 312018 January 12019
Amount involved in the
adjustment
Current asset：
Cash and bank balances 9732302654.23 9732302654.23
Transactional financial assets
Financial assets measured at
fair value with variations
accounted into current
income account
Derivative financial assets
Notes receivable 50000.00 50000.00
Account receivable 176563926.23 176563926.23
Financing of receivables
Prepayments 2008364.11 2008364.11
Other account receivable 6281675319.27 6281675319.27
Including：Interest
receivable
7521489.86 7521489.86
Dividend receivable 500000000.00 500000000.00
Inventories 269759580.95 269759580.95
Contract assets
Assets held for sales
Non-current asset due within
1 year
Other current asset 148973.38 148973.38
Total of current assets 16462508818.17 16462508818.17
Non-current assets：
Debt investment
Available for sale of financial
assets
129500056.00 -129500056.00
Other investment on bonds
Expired investment in possess
Long-term receivable
Long term share equity
investment
26504735200.89 26504735200.89
Other equity instruments
investment
Other non-current financial
assets
129500056.00 129500056.00
Property investment
Fixed assets 160867244.63 160867244.63
Construction in progress
Production physical assets
Oil & gas assets
Use right assets
Intangible assets 9339387.26 9339387.26
Development expenses
Goodwill
Long-germ expenses to be
amortized
Deferred income tax asset 119964967.85 119964967.85
Other non-current asset
Total of non-current assets 26924406856.63 26924406856.63
Total of assets 43386915674.80 43386915674.80
Current liabilities
Short-term loans 4278000000.00 4278000000.00
Transactional financial
liabilities
Financial liabilities measured
at fair value with variations
accounted into current
income account
Derivative financial liabilities
Notes payable
Account payable 11500796.58 11500796.58
Advance receipts 1991498.78 1991498.78
Contract Liabilities
Employees’ wage payable 4484401.86 4484401.86
Tax payable 17959833.09 17959833.09
Other account payable 3656725253.66 3656725253.66
Including：Interest payable 97197464.99 97197464.99
Dividend payable
Liabilities held for sales
Non-current liability due
within 1 year
1533383333.28 1533383333.28
Other current liability
Total of current liability 9504045117.25 9504045117.25
Non-current liabilities：
Long-term loan
Bond payable 5630818825.32 5630818825.32
Including：preferred stock
Sustainable debt
Lease liability
Long-term payable
Long-term remuneration
payable to staff
Expected liabilities
Deferred income
Deferred income tax liability
Other non-current liabilities
Total non-current liabilities 5630818825.32 5630818825.32
Total of liability 15134863942.57 15134863942.57
Owners’ equity
Share capital 5730250118.00 5730250118.00
Other equity instruments
Including：preferred stock
Sustainable debt
Capital reserves 21832453907.50 21832453907.50
Less：Shares in stock 4422320.00 4422320.00
Other comprehensive income
Special reserve
Surplus reserves 226517795.62 226517795.62
Retained profit 467252231.11 467252231.11
Total of owners’ equity 28252051732.23 28252051732.23
Total of liabilities and
owners’ equity
43386915674.80 43386915674.80
2. Note to the retroactive adjustment of the previous comparative data according to the new standards for
financial instruments and the new standards for lease implemented commencing from year 2019
√Applicable □Not applicable
Beginning January 1 2019 the company began to implement the new financial instrument guidelines This
accounting policy change does not involve retrospective adjustments in previous years and does not affect the
Company's 2018 annual financial indicators.
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