HAINAN JINGLIANG HOLDINGS CO. LTD.
FIRST QUARTERLY REPORT 2021
April 2021
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.Part IV Financial Statements
I Financial Statements
1. Consolidated Balance Sheet
Prepared by Hainan Jingliang Holdings Co. Ltd.
31 March 2021
Unit: RMB
Item 31 March 2021 31 December 2020
Current assets:
Monetary assets 638272610.63 335466169.61
Settlement reserve
Interbank loans granted
Held-for-trading financial assets 180350671.73 63478071.73
Derivative financial assets
Notes receivable 348845.25 456565.85
Accounts receivable 79755021.15 92245667.60
Accounts receivable financing
Prepayments 352445575.71 282343218.05
Premiums receivable
Reinsurance receivables
Receivable reinsurance contract
reserve
Other receivables 363447586.33 541905656.97
Including: Interest receivable
Dividends receivable
Financial assets purchased under
resale agreements
Inventories 1149368193.12 1225083742.26
Contract assets
Assets held for sale
Current portion of non-current assets
Other current assets 623586751.17 845450678.36
Total current assets 3387575255.09 3386429770.43
Non-current assets:
Loans and advances to customers
Investments in debt obligations
Investments in other debt obligations
Long-term receivables
Long-term equity investments 217762487.79 217762487.79
Investments in other equity
instruments
20000000.00 20000000.00
Other non-current financial assets
Investment property 22148688.37 22560212.50
Fixed assets 1109204988.73 1131143854.07
Construction in progress 22405581.50 28458413.67
Productive living assets
Oil and gas assets
Right-of-use assets 2484266.44
Intangible assets 350415434.47 354139335.32
Development costs
Goodwill 191394422.51 191394422.51
Long-term prepaid expense 20543516.72 20529601.50
Deferred income tax assets 3330952.00 3346814.27
Other non-current assets 337222341.67 319739581.67
Total non-current assets 2296912680.20 2309074723.30
Total assets 5684487935.29 5695504493.73
Current liabilities:
Short-term borrowings 1509813010.95 1497414079.05
Borrowings from the central bank
Interbank loans obtained
Held-for-trading financial liabilities
Derivative financial liabilities 204172909.98 371219136.84
Notes payable
Accounts payable 64823024.76 75384075.39
Advances from customers 1402363.91 1087874.02
Contract liabilities 439986754.33 346874260.90
Financial assets sold under
repurchase agreements
Customer deposits and interbank
deposits
Payables for acting trading of
securities
Payables for underwriting of
securities
Employee benefits payable 13838869.45 33345136.94
Taxes payable 27631015.04 50884214.64
Other payables 111293858.63 72292881.24
Including: Interest payable 21082795.47 21082795.47
Dividends payable 11013302.88 11013302.88
Handling charges and commissions
payable
Reinsurance payables
Liabilities directly associated with
assets held for sale
Current portion of non-current
liabilities
Other current liabilities 4956685.90 8319696.79
Total current liabilities 2377918492.95 2456821355.81
Non-current liabilities:
Insurance contract reserve
Long-term borrowings
Bonds payable
Including: Preferred shares
Perpetual bonds
Lease liabilities 2479427.07
Long-term payables
Long-term employee benefits
payable
5677134.00 5677134.00
Provisions
Deferred income 68243587.67 68716699.34
Deferred income tax liabilities 88830153.02 65115801.22
Other non-current liabilities
Total non-current liabilities 165230301.76 139509634.56
Total liabilities 2543148794.71 2596330990.37
Owners’ equity:
Share capital 726950251.00 726950251.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserves 1674828350.95 1674828350.95
Less: Treasury stock
Other comprehensive income -302976.28 -363258.66
Specific reserve
Surplus reserves 122122436.98 122122436.98
General reserve
Retained earnings 223618840.62 187033763.26
Total equity attributable to owners of
the Company as the parent
2747216903.27 2710571543.53
Non-controlling interests 394122237.31 388601959.83
Total owners’ equity 3141339140.58 3099173503.36
Total liabilities and owners’ equity 5684487935.29 5695504493.73
Legal representative: Li Shaoling Head for financial affairs: Guan Ying
Head of the financial department: Liu Quanli
2. Balance Sheet of the Company as the Parent
Unit: RMB
Item 31 March 2021 31 December 2020
Current assets:
Monetary assets 971206.16 1523322.79
Held-for-trading financial assets
Derivative financial assets
Notes receivable
Accounts receivable 11784.00 11784.00
Accounts receivable financing
Prepayments 423679.12 423679.12
Other receivables 100008.26 103341.26
Including: Interest receivable
Dividends receivable
Inventories 3775954.85 3775954.85
Contract assets
Assets held for sale
Current portion of non-current assets
Other current assets 2472089.46 2445772.47
Total current assets 7754721.85 8283854.49
Non-current assets:
Investments in debt obligations
Investments in other debt obligations
Long-term receivables
Long-term equity investments 2626437846.24 2626437846.24
Investments in other equity
instruments
20000000.00 20000000.00
Other non-current financial assets
Investment property 6136711.10 6222001.73
Fixed assets 2643065.57 2809083.51
Construction in progress
Productive living assets
Oil and gas assets
Right-of-use assets
Intangible assets 182183.72 209185.10
Development costs
Goodwill
Long-term prepaid expense
Deferred income tax assets
Other non-current assets
Total non-current assets 2655399806.63 2655678116.58
Total assets 2663154528.48 2663961971.07
Current liabilities:
Short-term borrowings
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable
Accounts payable
Advances from customers 38896.41 38896.41
Contract liabilities
Employee benefits payable 188025.74 341902.14
Taxes payable 960020.24 1037881.62
Other payables 310401556.88 309067618.99
Including: Interest payable 21082795.47 21082795.47
Dividends payable 3213302.88 3213302.88
Liabilities directly associated with
assets held for sale
Current portion of non-current
liabilities
Other current liabilities
Total current liabilities 311588499.27 310486299.16
Non-current liabilities:
Long-term borrowings
Bonds payable
Including: Preferred shares
Perpetual bonds
Lease liabilities
Long-term payables
Long-term employee benefits
payable
Provisions
Deferred income
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities
Total liabilities 311588499.27 310486299.16
Owners’ equity:
Share capital 726950251.00 726950251.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserves 2379144900.84 2379144900.84
Less: Treasury stock
Other comprehensive income
Specific reserve
Surplus reserves 109487064.39 109487064.39
Retained earnings -864016187.02 -862106544.32
Total owners’ equity 2351566029.21 2353475671.91
Total liabilities and owners’ equity 2663154528.48 2663961971.07
3. Consolidated Income Statement
Unit: RMB
Item Q1 2021 Q1 2020
1. Revenue 2338783061.35 1719261111.71
Including: Operating revenue 2338783061.35 1719261111.71
Interest income
Insurance premium income
Handling charge and
commission income
2. Costs and expenses 2333218041.73 1658412402.25
Including: Cost of sales 2226013163.78 1544129698.32
Interest expense
Handling charge and
commission expense
Surrenders
Net insurance claims paid
Net amount provided as
insurance contract reserve
Expenditure on policy
dividends
Reinsurance premium
expense
Taxes and surcharges 5955781.15 4029610.82
Selling expense 48411864.19 52228754.23
Administrative expense 44040201.27 41898096.16
R&D expense 2417187.46 526336.27
Finance costs 6379843.88 15599906.45
Including: Interest
expense
8671148.55 9935743.28
Interest
income
2685086.53 2406568.62
Add: Other income 3012534.83 1879509.69
Return on investment (“-” for loss) 4619547.66 4768109.67
Including: Share of profit or loss
of joint ventures and associates
Income from the
derecognition of financial assets at
amortized cost (“-” for loss)
Exchange gain (“-” for loss)
Net gain on exposure hedges (“-”
for loss)
Gain on changes in fair value (“-”
for loss)
47688252.08 -14186448.05
Credit impairment loss (“-” for
loss)
Asset impairment loss (“-” for loss)
Asset disposal income (“-” for
loss)
-24042.07
3. Operating profit (“-” for loss) 60861312.12 53309880.77
Add: Non-operating income 489618.17 512126.89
Less: Non-operating expense 151256.17 1181483.76
4. Profit before tax (“-” for loss) 61199674.12 52640523.90
Less: Income tax expense 19094319.28 12926062.26
5. Net profit (“-” for net loss) 42105354.84 39714461.64
5.1 By operating continuity
5.1.1 Net profit from continuing
operations (“-” for net loss)
42105354.84 39714461.64
5.1.2 Net profit from discontinued
operations (“-” for net loss)
5.2 By ownership
5.2.1 Net profit attributable to
shareholders of the Company as the
36585077.36 27655045.32
parent
5.2.2 Net profit attributable to
non-controlling interests
5520277.48 12059416.32
6. Other comprehensive income net of
tax
60282.38 112438.44
Attributable to owners of the Company
as the parent
60282.38 112438.44
6.1 Items that will not be
reclassified to profit or loss
6.1.1 Changes caused by
remeasurements on defined benefit
schemes
6.1.2 Other comprehensive
income that will not be reclassified to
profit or loss under the equity method
6.1.3 Changes in the fair value of
investments in other equity instruments
6.1.4 Changes in the fair value
arising from changes in own credit risk
6.1.5 Other
6.2 Items that will be reclassified to
profit or loss
60282.38 112438.44
6.2.1 Other comprehensive
income that will be reclassified to profit
or loss under the equity method
6.2.2 Changes in the fair value of
investments in other debt obligations
6.2.3 Other comprehensive
income arising from the reclassification
of financial assets
6.2.4 Credit impairment allowance
for investments in other debt obligations
6.2.5 Reserve for cash flow hedges
6.2.6 Differences arising from the
translation of foreign
currency-denominated financial
statements
60282.38 112438.44
6.2.7 Other
Attributable to non-controlling
interests
7. Total comprehensive income 42165637.22 39826900.08
Attributable to owners of the Company
as the parent
36645359.74 27767483.76
Attributable to non-controlling
interests
5520277.48 12059416.32
8. Earnings per share
8.1 Basic earnings per share 0.05 0.04
8.2 Diluted earnings per share 0.05 0.04
Where business combinations under common control occurred in the current period the net profit achieved by the acquirees before
the combinations was RMBXXX with the amount for the same period of last year being RMBXXX.Legal representative: Li Shaoling Head for financial affairs: Guan Ying
Head of the financial department: Liu Quanli
4. Income Statement of the Company as the Parent
Unit: RMB
Item Q1 2021 Q1 2020
1. Operating revenue 147765.14 0.00
Less: Cost of sales 85290.63 0.00
Taxes and surcharges 50806.93 2700.00
Selling expense
Administrative expense 1926595.42 6328612.55
R&D expense
Finance costs 1022.57 -3113.45
Including: Interest expense
Interest income 771.43 3963.45
Add: Other income
Return on investment (“-” for
loss)
Including: Share of profit or
loss of joint ventures and associates
Income from the
derecognition of financial assets at
amortized cost (“-” for loss)
Net gain on exposure hedges (“-”
for loss)
Gain on changes in fair value (“-”
for loss)
Credit impairment loss (“-” for
loss)
Asset impairment loss (“-” for
loss)
Asset disposal income (“-” for
loss)
-24042.07
2. Operating profit (“-” for loss) -1939992.48 -6328199.10
Add: Non-operating income 30349.78
Less: Non-operating expense 1000000.00
3. Profit before tax (“-” for loss) -1909642.70 -7328199.10
Less: Income tax expense
4. Net profit (“-” for net loss) -1909642.70 -7328199.10
4.1 Net profit from continuing
operations (“-” for net loss)
-1909642.70 -7328199.10
4.2 Net profit from discontinued
operations (“-” for net loss)
5. Other comprehensive income net of
tax
5.1 Items that will not be reclassified
to profit or loss
5.1.1 Changes caused by
remeasurements on defined benefit
pension schemes
5.1.2 Other comprehensive income
that will not be reclassified to profit or
loss under the equity method
5.1.3 Changes in the fair value of
investments in other equity instruments
5.1.4 Changes in the fair value of
the company’s credit risks
5.1.5 Other
5.2 Items that will be reclassified to
profit or loss
5.2.1 Other comprehensive income
that will be reclassified to profit or loss
under the equity method
5.2.2 Changes in the fair value of
investments in other debt obligations
5.2.3 Other comprehensive income
arising from the reclassification of
financial assets
5.2.4 Allowance for credit
impairments in investments in other
debt obligations
5.2.5 Reserve for cash flow hedges
5.2.6 Differences arising from the
translation of foreign
currency-denominated financial
statements
5.2.7 Other
6. Total comprehensive income -1909642.70 -7328199.10
7. Earnings per share
7.1 Basic earnings per share
7.2 Diluted earnings per share
5. Consolidated Cash Flow Statement
Unit: RMB
Item Q1 2021 Q1 2020
1. Cash flows from operating activities:
Proceeds from sale of commodities
and rendering of services
2723222764.35 1881294907.03
Net increase in customer deposits and
interbank deposits
Net increase in borrowings from the
central bank
Net increase in loans from other
financial institutions
Premiums received on original
insurance contracts
Net proceeds from reinsurance
Net increase in deposits and
investments of policy holders
Interest handling charges and
commissions received
Net increase in interbank loans
obtained
Net increase in proceeds from
repurchase transactions
Net proceeds from acting trading of
securities
Tax rebates 2397841.07 3888658.17
Cash generated from other operating
activities
500143601.78 322173357.74
Subtotal of cash generated from
operating activities
3225764207.20 2207356922.94
Payments for commodities and
services
2302395084.62 1512095916.20
Net increase in loans and advances to
customers
Net increase in deposits in the central
bank and in interbank loans granted
Payments for claims on original
insurance contracts
Net increase in interbank loans
granted
Interest handling charges and
commissions paid
Policy dividends paid
Cash paid to and for employees 92696571.12 90315621.12
Taxes paid 68496499.66 48656100.30
Cash used in other operating
activities
487418827.64 227340451.00
Subtotal of cash used in operating
activities
2951006983.04 1878408088.62
Net cash generated from/used in
operating activities
274757224.16 328948834.32
2. Cash flows from investing activities:
Proceeds from disinvestment 553344218.29 430158276.12
Return on investment 4786581.45 4513448.35
Net proceeds from the disposal of
fixed assets intangible assets and other
long-lived assets
85994.78 2500.00
Net proceeds from the disposal of
subsidiaries and other business units
5000000.00
Cash generated from other investing
activities
Subtotal of cash generated from
investing activities
558216794.52 439674224.47
Payments for the acquisition of fixed 16999069.25 4848818.22
assets intangible assets and other
long-lived assets
Payments for investments 510000000.00 238280000.00
Net increase in pledged loans granted
Net payments for the acquisition of
subsidiaries and other business units
Cash used in other investing
activities
Subtotal of cash used in investing
activities
526999069.25 243128818.22
Net cash generated from/used in
investing activities
31217725.27 196545406.25
3. Cash flows from financing activities:
Capital contributions received
Including: Capital contributions by
non-controlling interests to subsidiaries
Borrowings obtained 921639571.50 1223077644.38
Cash generated from other financing
activities
Subtotal of cash generated from
financing activities
921639571.50 1223077644.38
Repayments of borrowings 908547195.60 1174444005.01
Payments for interest and dividends 16299326.30 16033923.34
Including: Dividends paid by
subsidiaries to non-controlling interests
Cash used in other financing
activities
Subtotal of cash used in financing
activities
924846521.90 1190477928.35
Net cash generated from/used in
financing activities
-3206950.40 32599716.03
4. Effect of foreign exchange rate
changes on cash and cash equivalents
38441.99 -7811914.24
5. Net increase in cash and cash
equivalents
302806441.02 550282042.36
Add: Cash and cash equivalents
beginning of the period
334389017.41 555097777.21
6. Cash and cash equivalents end of the
period
637195458.43 1105379819.57
6. Cash Flow Statement of the Company as the Parent
Unit: RMB
Item Q1 2021 Q1 2020
1. Cash flows from operating activities:
Proceeds from sale of commodities
and rendering of services
1930.25
Tax rebates 200.00
Cash generated from other operating
activities
1657348.13 4596500.27
Subtotal of cash generated from
operating activities
1659278.38 4596700.27
Payments for commodities and
services
9688.23 6089.61
Cash paid to and for employees 1131342.20 4536346.77
Taxes paid 45031.71 296186.19
Cash used in other operating
activities
1069757.65 4678032.18
Subtotal of cash used in operating
activities
2255819.79 9516654.75
Net cash generated from/used in
operating activities
-596541.41 -4919954.48
2. Cash flows from investing activities:
Proceeds from disinvestment
Return on investment
Net proceeds from the disposal of
fixed assets intangible assets and other
long-lived assets
44424.78
Net proceeds from the disposal of
subsidiaries and other business units
Cash generated from other investing
activities
Subtotal of cash generated from
investing activities
44424.78
Payments for the acquisition of fixed
assets intangible assets and other
long-lived assets
Payments for investments
Net payments for the acquisition of
subsidiaries and other business units
Cash used in other investing
activities
Subtotal of cash used in investing
activities
Net cash generated from/used in
investing activities
44424.78
3. Cash flows from financing activities:
Capital contributions received
Borrowings obtained 4000000.00
Cash generated from other financing
activities
Subtotal of cash generated from
financing activities
4000000.00
Repayments of borrowings
Payments for interest and dividends
Cash used in other financing
activities
Subtotal of cash used in financing
activities
Net cash generated from/used in
financing activities
4000000.00
4. Effect of foreign exchange rate
changes on cash and cash equivalents
5. Net increase in cash and cash
equivalents
-552116.63 -919954.48
Add: Cash and cash equivalents
beginning of the period
1523322.79 3536102.19
6. Cash and cash equivalents end of the
period
971206.16 2616147.71
II Adjustments to the Financial Statements
1. Adjustments to the Financial Statements at the Beginning of the First Execution Year of the New
Standards Governing Leases from 2021
√ Applicable □ Not applicable
Whether the Company needs to adjust items in balance sheets at the beginning of the year
√ Yes □ No
Consolidated Balance Sheet
Unit: RMB
Item 31 December 2020 1 January 2021 Adjusted
Current assets:
Monetary assets 335466169.61 335466169.61
Held-for-trading financial
assets
63478071.73 63478071.73
Notes receivable 456565.85 456565.85
Accounts receivable 92245667.60 92245667.60
Prepayments 282343218.05 282234970.05 -108248.00
Other receivables 541905656.97 541905656.97
Inventories 1225083742.26 1225083742.26
Other current assets 845450678.36 845450678.36
Total current assets 3386429770.43 3386321522.43 -108248.00
Non-current assets:
Long-term equity
investments
217762487.79 217762487.79
Investments in other equity
instruments
20000000.00 20000000.00
Investment property 22560212.50 22560212.50
Fixed assets 1131143854.07 1131143854.07
Construction in progress 28458413.67 28458413.67
Use rights assets 2722789.09 2722789.09
Intangible assets 354139335.32 354139335.32
Goodwill 191394422.51 191394422.51
Long-term prepaid
expense
20529601.50 20529601.50
Deferred income tax assets 3346814.27 3346814.27
Other non-current assets 319739581.67 319739581.67
Total non-current assets 2309074723.30 2311797512.39 2722789.09
Total assets 5695504493.73 5698119034.82 2614541.09
Current liabilities:
Short-term borrowings 1497414079.05 1497414079.05
Held-for-trading financial
liabilities
371219136.84 371219136.84
Accounts payable 75384075.39 75384075.39
Advances from customers 1087874.02 1087874.02
Contractual liabilities 346874260.90 346874260.90
Payroll payable 33345136.94 33345136.94
Taxes payable 50884214.64 50884214.64
Other payables 72292881.24 72292881.24
Including: Interest
payable
21082795.47 21082795.47
Dividends
payable
11013302.88 11013302.88
Other current liabilities 8319696.79 8319696.79
Total current liabilities 2456821355.81 2456821355.81
Non-current liabilities:
Lease liabilities 2614541.09 2614541.09
Long-term payroll payable 5677134.00 5677134.00
Deferred income 68716699.34 68716699.34
Deferred income tax
liabilities
65115801.22 65115801.22
Total non-current liabilities 139509634.56 142124175.65 2614541.09
Total liabilities 2596330990.37 2598945531.46 2614541.09
Owners’ equity:
Share capital 726950251.00 726950251.00
Capital reserves 1674828350.95 1674828350.95
Other comprehensive
income
-363258.66 -363258.66
Surplus reserves 122122436.98 122122436.98
Retained earnings 187033763.26 187033763.26
Total equity attributable to
owners of the Company as
the parent
2710571543.53 2710571543.53
Non-controlling interests 388601959.83 388601959.83
Total owners’ equity 3099173503.36 3099173503.36
Total liabilities and owners’
equity
5695504493.73 5698119034.82 2614541.09
Balance sheet of the company as the parent
Unit: RMB
Item 31 December 2020 1 January 2021 Adjusted
Current assets:
Monetary assets 1523322.79 1523322.79
Accounts receivable 11784.00 11784.00
Prepayments 423679.12 423679.12
Other receivables 103341.26 103341.26
Inventories 3775954.85 3775954.85
Other current assets 2445772.47 2445772.47
Total current assets 8283854.49 8283854.49
Non-current assets:
Long-term equity
investments
2626437846.24 2626437846.24
Investments in other equity
instruments
20000000.00 20000000.00
Investment property 6222001.73 6222001.73
Fixed assets 2809083.51 2809083.51
Intangible assets 209185.10 209185.10
Total non-current assets 2655678116.58 2655678116.58
Total assets 2663961971.07 2663961971.07
Current liabilities:
Advances from customers 38896.41 38896.41
Payroll payable 341902.14 341902.14
Taxes payable 1037881.62 1037881.62
Other payables 309067618.99 309067618.99
Including: Interest
payable
21082795.47 21082795.47
Dividends
payable
3213302.88 3213302.88
Total current liabilities 310486299.16 310486299.16
Non-current liabilities:
Total liabilities 310486299.16 310486299.16
Owners’ equity:
Share capital 726950251.00 726950251.00
Capital reserves 2379144900.84 2379144900.84
Surplus reserves 109487064.39 109487064.39
Retained earnings -862106544.32 -862106544.32
Total owners’ equity 2353475671.91 2353475671.91
Total liabilities and owners’
equity
2663961971.07 2663961971.07
2. Retrospective Restatement of Previous Comparative Data due to the First Execution of the New
Standards Governing Leases from 2021
□ Applicable √ Not applicable
III Independent Auditor’s Report
Indicate by tick mark whether the financial statements above have been audited by an independent auditor.□ Yes √ No
These financial statements have not been audited by such an auditor.Hainan Jingliang Holdings Co. Ltd.
28 April 2021
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