Stock Code: 000505 200505 Stock Name: JLKG JL-B Announcement No. 2021-025
HAINAN JINGLIANG HOLDINGS CO. LTD.
FIRST QUARTERLY REPORT 2021 (SUMMARY)
Part I Important Notes
The Board of Directors (or the “Board”) the Supervisory Committee as well as the directors
supervisors and senior management of Hainan Jingliang Holdings Co. Ltd. (hereinafter
referred to as the “Company”) hereby guarantee the factuality accuracy and completeness of
the contents of this Report and its summary and shall be jointly and severally liable for any
misrepresentations misleading statements or material omissions therein.
All the Company’s directors have attended the Board meeting for the review of this Report
and its summary.Li Shaoling the Company’s legal representative Guan Ying the Company’s head for
financial affairs and Liu Quanli head of the Company’s financial department (equivalent to
financial manager) hereby guarantee that the Financial Statements carried in this Report are
factual accurate and complete.This Report and its summary have been prepared in both Chinese and English. Should there
be any discrepancies or misunderstandings between the two versions the Chinese versions
shall prevail.Part II Key Corporate Information
I Key Financial Information
Indicate by tick mark whether there is any retrospectively restated datum in the table below.□ Yes √ No
Q1 2021 Q1 2020 Change (%)
Operating revenue (RMB) 2338783061.35 1719261111.71 36.03%
Net profit attributable to the listed
company’s shareholders (RMB)
36585077.36 27655045.32 32.29%
Net profit attributable to the listed
company’s shareholders before exceptional
items (RMB)
32694567.66 23730342.72 37.78%
Net cash generated from/used in operating
activities (RMB)
274757224.16 328948834.32 -16.47%
Basic earnings per share (RMB/share) 0.05 0.04 25.00%
Diluted earnings per share (RMB/share) 0.05 0.04 25.00%
Weighted average return on equity (%) 1.34% 1.14% 0.20%
31 March 2021 31 December 2020 Change (%)
Total assets (RMB) 5684487935.29 5695504493.73 -0.19%
Equity attributable to the listed company’s
shareholders (RMB)
2747216903.27 2710571543.53 1.35%
Exceptional gains and losses:
√ Applicable □ Not applicable
Unit: RMB
Item Q1 2021 Note
Gain or loss on disposal of non-current assets (inclusive of
impairment allowance write-offs)
123210.12
Government grants through profit or loss (exclusive of government
grants given in the Company’s ordinary course of business at fixed
quotas or amounts as per the government’s uniform standards)
406977.39
Gain or loss on fair-value changes on held-for-trading and derivative
financial assets and liabilities & income from disposal of
held-for-trading and derivative financial assets and liabilities and
other debt investments (exclusive of the effective portion of hedges
4619547.66
that arise in the Company’s ordinary course of business)
Non-operating income and expense other than the above 97845.34
Project confirmed with the definition of non-recurring gains and
losses
28548.78
Less: Income tax effects 1319032.32
Non-controlling interests effects (net of tax) 66587.27
Total 3890509.70 --
Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item defined or listed in the
Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the
Public—Exceptional Gain/Loss Items:
□ Applicable √ Not applicable
No such cases for the Reporting Period.II Total Number of Shareholders and Holdings of Top 10 Shareholders at 31 March 2021
1. Numbers of Ordinary Shareholders and Preferred Shareholders with Resumed Voting Rights as well as
Holdings of Top 10 Shareholders
Unit: share
Number of ordinary shareholders at the period-end 68418
Number of preferred
shareholders with resumed
voting rights at the period-end
(if any)
0
Top 10 shareholders
Name of shareholder
Nature of
shareholder
Shareholdin
g percentage
Total shares
held
Restricted
shares held
Shares in pledge or frozen
Status Shares
BEIJING GRAIN GROUP CO.
LTD.
State-owned
legal person
39.68% 288439561 164877598
BEIJING STATE-OWNED
CAPITAL OPERATION AND
MANAGEMENT CENTER
State-owned
legal person
6.67% 48510460 0
WANG YUECHENG
Domestic
natural person
5.66% 41159887 41159887
LI SHERYN ZHAN MING
Foreign
natural person
1.23% 8930000 0
GOLD BUFFALO RUNYING
(TIANJIN) EQUITY
INVESTMENT FUND
MANAGEMENT CO.
LTD.—GOLD BUFFALO
Other 0.40% 2889803 0
RUNYING (TIANJIN) EQUITY
INVESTMENT FUND (L.P.)
MEI JIANYING
Domestic
natural person
0.36% 2604203 0
ZHANG XIAOXIA
Domestic
natural person
0.27% 1949250 0
WANG XIAOXING
Domestic
natural person
0.23% 1691200 0
TAN WENQIONG
Domestic
natural person
0.20% 1474700 0ORIENT SECURITIES （HONGKONG） LIMITED
Foreign
corporation
0.18% 1330400 0
Top 10 unrestricted shareholders
Name of shareholder Unrestricted shares held
Shares by type
Type Shares
BEIJING GRAIN GROUP CO. LTD. 123561963
RMB-denominate
d ordinary stock
123561963
BEIJING STATE-OWNED CAPITAL
OPERATION AND MANAGEMENT CENTER
48510460
RMB-denominate
d ordinary stock
48510460
LI SHERYN ZHAN MING 8930000
Domestically
listed foreign
stock
8930000
GOLD BUFFALO RUNYING (TIANJIN)
EQUITY INVESTMENT FUND MANAGEMENT
CO. LTD.—GOLD BUFFALO RUNYING
(TIANJIN) EQUITY INVESTMENT FUND (L.P.)
2889803
RMB-denominate
d ordinary stock
2889803
MEI JIANYING 2604203
RMB-denominate
d ordinary stock
2604203
ZHANG XIAOXIA 1949250
Domestically
listed foreign
stock
1949250
WANG XIAOXING 1691200
RMB-denominate
d ordinary stock
1691200
TAN WENQIONG 1474700
RMB-denominate
d ordinary stock
1474700
ORIENT SECURITIES （ HONG KONG ）
LIMITED
1330400
Domestically
listed foreign
stock
1330400
YANG SHULING 1122900
RMB-denominate
d ordinary stock
1122900
Related or acting-in-concert parties among the ① Beijing State-Owned Capital Operation and Management Center owns
shareholders above 100% of Beijing Grain Group Co. Ltd. and Beijing Grain Group Co. Ltd. is
the controlling shareholder of the Company (a 39.68% holding). ② Wang
Yuecheng is a Deputy General Manager of the Company. Apart from the
aforesaid the Company does not know whether there are any other related
parties or acting-in-concert parties among the top 10 shareholders.Top 10 shareholders engaged in securities margin
trading (if any)
Shareholder Wang Xiaoxing held 1691200 shares in the Company through
his account of collateral securities for margin trading in Soochow Securities
Co. Ltd.
Indicate by tick mark whether any of the top 10 ordinary shareholders or the top 10 unrestricted ordinary
shareholders of the Company conducted any promissory repo during the Reporting Period.□ Yes √ No
No such cases in the Reporting Period.
2. Number of Preferred Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
Part III Significant Events
I Changes in Key Financial Statement Line Items and Explanation of why
√ Applicable □ Not applicable
1. Monetary assets increased primarily driven by an increase in sales revenue received in the oils business in the
current period.
2. Held-for-trading financial assets increased primarily driven by the purchase of wealth management products
with part of the amount arising from the redemption of investments in cash management products upon maturity
in the current period.
3. Derivative financial liabilities decreased primarily driven by changes in the fair value of hedge instruments in
the Current Period.
4. Total revenues increased primarily driven by rising product prices and unit sales in the Current Period.
5. R&D expense increased primarily driven the cost rising by more new product development projects in the
Current Period.
6. Finance costs decreased primarily driven by decreases in exchange losses and interest expense in the Current
Period.
7. Other income increased primarily driven by an increase in VAT rebates in the Current Period.
8. Gain on fair value changes increased primarily driven by changes in the value of futures contracts in the current
period.
9. Net cash generated from investing activities decreased primarily driven by an increase in investments in wealth
management products.
10. Net cash generated from financing activities decreased primarily driven by a decrease in new borrowings in
the current period.II Progress Influence and Solutions with regard to Significant Events
√ Applicable □ Not applicable
Summary of the significant event Disclosure date Index to the related announcement
The Company signed the Joint Venture and Cooperation
Agreement on Yueyang Oil Processing Project and the Articles of
5 January 2021
Announcement No. 2021-004 of Hainan
Jingliang Holdings Co. Ltd. on Progress
Association of Jingliang (Yueyang) Grains & Oils Industries Co.
Ltd. with Sinograin Oils Co. Ltd. on 31 December 2020. This
external investment has been approved by Beijing Capital
Agribusiness & Foods Group Co. Ltd. During the Reporting
Period Sinograin Oils Co. Ltd. upon internal decisions obtained
the approval of China Grain Reserves Group Ltd. Company.Subsequently both parties will actively go through the paper
work for the establishment of the joint venture.of Yueyang Oil Base Project disclosed on
www.cninfo.com.cn.
On 6 April 2021 the Company signed the Cooperation
Framework Agreement with SDIC Traffic Holding Co. Ltd. and
China Grain Reserves Group Ltd. Guangzhou Branch in Beijing
reaching an agreement on cooperation in grain storage logistics
and processing at SDIC Yangpu Port Yangpu Economic
Development Zone Hainan Province.
8 April 2021
Announcement No. 2021-020 of Hainan
Jingliang Holdings Co. Ltd. on Signing
the Cooperation Framework Agreement
disclosed on www.cninfo.com.cn.Progress of any share repurchases:
□ Applicable √ Not applicable
Progress of any reduction of the repurchased shares through centralized bidding:
□ Applicable √ Not applicable
III Commitments that the Company’s Actual Controller Shareholders Related Parties
Acquirers the Company Itself or Other Parties Failed to Fulfill on Time during the
Reporting Period
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IV Financial Investments
1. Securities Investments
√ Applicable □ Not applicable
Unit: RMB
Type
of
securit
ies
Code of
securitie
s
Name of
securities
Initi
al
inve
stme
nt
cost
Accoun
ting
measur
ement
model
Begin
ning
carryi
ng
value
Gain/los
s on
fair-valu
e
changes
in the
current
period
Cumulat
ive
fair-valu
e
changes
through
equity
Purchased in
the current
period
Sold in the
current
period
Gain/los
s in the
current
period
Ending
carrying
value
Accou
nting
title
Fundin
g
source
Other 204001 GC001
Cost
method
198070000
0.00
198070000
0.00
275836
.11
0.00 Other
Self-ra
ised
Total 0.00 -- 0.00 0.00 0.00
198070000
0.00
198070000
0.00
275836
.11
0.00 -- --
Disclosure date of
announcement on Board’s
consent for securities
investment
27 March 2021
Disclosure date of
announcement on
shareholders’ meeting’s
consent for securities
investment (if any)
N/A
2. Investments in Derivative Financial Instruments
√ Applicable □ Not applicable
Unit: RMB’0000
Type of derivative
financial instrument
Start date End date
Beginning
investment
Ending
investment
Ending investment as %
of the Company’s ending
net assets
Actual gain/loss in
Reporting Period
Agricultural product
future contract
1 January
2021
31 March
2021
25014.36 23798.9 8.66% -20727.38
Foreign exchange
forwards
1 January
2021
31 March
2021
13336.81 40543.15 14.76% -18.51
Total -- -- 38351.17 64342.05 23.42% -20745.89
Funding source
The Company's own funds are used in commodity derivatives transactions; in foreign exchange derivatives
transactions the Company's comprehensive bank credit line or margin for trading is mainly used. Principal
delivery or differential delivery is adopted at maturity.Legal matters involved
(if applicable)
N/A
Disclosure date of the
announcement about the
board’s consent for the
securities investment (if
any)
27 March 2021
Disclosure date of the
announcement about the
general meeting’s
consent for the securities
17 April 2021
investment (if any)
Risk analysis and control
measures in respect of
derivative investments
held in the Reporting
Period (including but not
limited to market risk
liquidity risk credit risk
operational risk legal
risk etc.)
The Company's main purpose of conducting commodity derivatives transactions and foreign exchange
derivatives transactions is to hedge and lock in exchange rates other than for speculation purposes.
Existing risks include but are not limited to market risk liquidity risk price fluctuation risk and internal
control risk. In this regard the Company has adopted the following risk control measures: 1) The
development of derivatives trading business is based on normal production and operation; 2) the Company
has formulated the Management Policy of Hainan Jingliang Holdings Co. Ltd. on Commodity Derivatives
Transactions and the Management Policy of Hainan Jingliang Holdings Co. Ltd. on Financial Derivatives
Transactions to control transaction risks; 3) own funds are reasonably allocated for hedging business. In
principle the Company purchases options contracts only. The asset scale of futures and options is strictly
controlled. The margin is planned and used reasonably; 4) the Company is only allowed to conduct foreign
exchange derivatives trading business with banks and financial institutions that are approved by regulatory
authorities and eligible for foreign exchange derivatives trading business other than with other
organizations or individuals so as to prevent customer default risks. During the Reporting Period gains
and losses of commodity derivatives transactions offset the gains and losses of hedged items (spot
agricultural products).
Changes in market prices
or fair value of
derivative investments in
the Reporting Period
(fair value analysis
should include
measurement method
and related assumptions
and parameters)
The value of the Company’s future contracts changed according to the contract prices declared by the
future exchange which were broadly representative. And the fair value of the Company’s future contracts
was executed in strict compliance with the future exchange’s settlement methods.Significant changes in
accounting policies and
specific accounting
principles adopted for
derivative investments in
the Reporting Period
compared to the last
reporting period
N/A
Opinion of independent
directors on derivative
investments and risk
control
Opinion of independent directors on commodity derivatives transactions: the Company has formulated the
Management Policy of Hainan Jingliang Holdings Co. Ltd. on Commodity Derivatives Transactions
which can effectively normalize commodity derivatives transaction behaviors and control transaction risks.
Based on normal production and operation the Company properly uses derivative financial instruments to
effectively offset operation risks. It is agreed that the Company will conduct commodity derivatives
transactions in 2021.Opinion of independent directors on foreign exchange derivatives trading business: after check the
relevant decision-making procedures for the Company and its majority-owned subsidiaries to conduct
foreign exchange derivatives trading business are in compliance with relevant national laws regulations
and the governing provisions of the Articles of Association after verification. Based on normal production
and operation the Company uses foreign exchange derivatives instruments to reduce exchange rate risks
and help to enhance financial soundness. There is no harm to the interests of the Company and all other
shareholders especially minority shareholders. The Company has established the Management Policy of
Hainan Jingliang Holdings Co. Ltd. on Financial Derivatives Transactions which helps to enhance the
trading risks control. It is agreed that the Company and its majority-owned subsidiaries will conduct
foreign exchange derivative trading business within the consideration amount.V Progress of Projects Financed with Raised Funds
□ Applicable √ Not applicable
VI Operating Performance Forecast for January-June 2021
Warning of a forecast loss on or a forecast significant year-on-year change in the accumulative net profit from the
beginning of the year to the end of the next reporting period as well as explanation of why:
□ Applicable √ Not applicable
VII Significant Contracts Arising from the Company’s Ordinary Course of Business
□ Applicable √ Not applicable
VIII Cash Entrusted for Wealth Management
√ Applicable □ Not applicable
Unit: RMB’0000
Type Funding source Amount Undue amount Unrecovered overdue amount
Bank’s wealth management product Self-funded 2300 1000 0
Broker’s wealth management product Idle raised funds 28000 0 0
Total 30300 1000 0
High-risk wealth management transactions with a significant single amount or with low security low liquidity or
no principal protection:
□ Applicable √ Not applicable
Wealth management transactions with possible impairments including an expectedly unrecoverable principal:
□ Applicable √ Not applicable
IX Irregularities in the Provision of Guarantees
□ Applicable √ Not applicable
No such cases in the Reporting Period.X Occupation of the Company’s Capital by the Controlling Shareholder or any of Its Related
Parties for Non-Operating Purposes
□ Applicable √ Not applicable
No such cases in the Reporting Period.
XI Communications with the Investment Community such as Researches Inquiries and
Interviews Received during the Reporting Period
□ Applicable √ Not applicable
No such cases in the Reporting Period.Hainan Jingliang Holdings Co. Ltd.
28 April 2021
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