Lu Thai Textile Co. Ltd. Third Quarterly Report 2021
Stock Code: 000726 200726 Stock Name: LTTC LTTC-B Announcement No. 2021-066
Bond Code: 127016 Bond Name: LTTC Convertible Bonds
LU THAI TEXTILE CO. LTD.THIRD QUARTERLY REPORT 2021
Lu Thai Textile Co. Ltd. (hereinafter referred to as the “Company”) and all the members of the
Company’s Board of Directors hereby guarantee that the contents of this Report are true accurate and
complete and free of any misrepresentations misleading statements or material omissions.Important Notes:
1. The Board of Directors the Supervisory Committee as well as the directors supervisors and senior
management of the Company hereby guarantee that the contents of this Report are true accurate and complete and
free of any misrepresentations misleading statements or material omissions and collectively and individually
accept legal responsibility for such contents.
2. The Company’s legal representative chief accountant and financial manager hereby guarantee that the financial
statements carried in this Report are true accurate and complete.
3. Indicate whether the financial statements in this Report have been audited by an independent auditor.
□Yes √ No
I Key Financial Information
(I) Key Accounting Data and Financial Indicators
Indicate whether there is any retrospectively restated datum in the table below.□ Yes √ No
Q3 2021 YoY change (%) Q1-Q3 2021 YoY change (%)
Operating revenue (RMB) 1346367447.24 24.26% 3566681098.18 5.83%
Net profit attributable to the listed
93666571.98293.31%247163916.64158.37%
company’s shareholders (RMB)
Net profit attributable to the listed
company’s shareholders before exceptional 80690683.49 236.11% 134972215.57 176.47%
gains and losses (RMB)
Net cash generated from/used in operating
————244668692.51-42.89%
activities (RMB)
Basic earnings per share (RMB/share) 0.11 283.33% 0.28 154.55%
Diluted earnings per share (RMB/share) 0.10 350.00% 0.26 116.67%
Weighted average return on equity (%) 1.18% 1.79% 3.15% 1.91%
30 September 2021 31 December 2020 Change (%)
Total assets (RMB) 12615024124.06 12129903960.65 4.00%
Equity attributable to the listed company’s
7978810232.597687577590.723.79%
shareholders (RMB)
Note: The “Reporting Period” refers to the three month from the beginning of Q3 to the end of Q3.
1Lu Thai Textile Co. Ltd. Third Quarterly Report 2021
(II) Exceptional Gains and Losses
√ Applicable □ Not applicable
Unit: RMB
Item Q3 2021 Q1-Q3 2021 Note
Gain or loss on disposal of non-current assets (inclusive of impairment
-1001224.3657530164.06
allowance write-offs)
Government grants through profit or loss (exclusive of government
grants continuously given in the Company’s ordinary course of
13113241.5432202552.65
business at fixed quotas or amounts as per the government’s policies
and standards)
Gain or loss on fair-value changes on held-for-trading financial assets
and liabilities & income from disposal of held-for-trading financial
assets and liabilities and available-for-sale financial assets (exclusive of 1170947.77 40175751.33
the effective portion of hedges that arise in the Company’s ordinary
course of business)
Reverse of provision for impairment of accounts receivable
878712.556265231.54
individually conducting impairment test
Non-operating income and expense other than the above 1880760.49 474839.57
Less: Income tax effects 2532803.63 20551317.65
Non-controlling interests effects (net of tax) 533745.87 3905520.43
Total 12975888.49 112191701.07 --
Other items that meet the definition of exceptional gain/loss:
□ Applicable √ Not applicable
No such cases in the Reporting Period.Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item 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 in the Reporting Period.(III) Changes in Key Financial Information and Explanation of why
√ Applicable □ Not applicable
Item Change (%) Main reason for change
Q3 2021
Net profit attributable to the
293.31
listed company’s shareholders Along with the easing of the global pandemic growing
Net profit attributable to the overseas demand resulted in a recovery in the Company’s
listed company’s shareholders production capacity and an increase in unit sales. Meanwhile
236.11
before exceptional gains and expenses went down.losses
Basic earnings per share 283.33
Increase in Q3 net profit
Diluted earnings per share 350.00
Q1-Q3 2021
Along with the easing of the global pandemic growing
overseas demand resulted in a recovery in the Company’s
Net profit attributable to the production capacity and an increase in unit sales. Meanwhile
158.37
listed company’s shareholders expenses went down. Additionally a compensation was
received from the Zibo Municipal Government for acquiring
the Company’s land in Zhangdian Industrial Park as reserve.Net profit attributable to the Along with the easing of the global pandemic growing
listed company’s shareholders 176.47 overseas demand resulted in a recovery in the Company’s
before exceptional gains and production capacity and an increase in unit sales. Meanwhile
2Lu Thai Textile Co. Ltd. Third Quarterly Report 2021
losses expenses went down.Net cash generated from/used in
-42.89 Increase in payments for goods and services
operating activities
Basic earnings per share 154.55
Increase in Q1-Q3 net profit
Diluted earnings per share 116.67
II Shareholder Information
(I) Numbers of Ordinary Shareholders and Preference Shareholders with Resumed Voting Rights as well
as Holdings of Top 10 Shareholders
Unit: share
Number of ordinary shareholders at Number of preferred shareholders with resumed voting
577280
the period-end rights at the period-end (if any)
Top 10 shareholders
Shares in pledge
Nature of Shareholding Total shares Restricted
Name of shareholder marked or frozen
shareholder percentage held shares held
Status Shares
Domestic
Zibo Lucheng Textile Investment
non-state-owned 15.91% 140353583 0
Co. Ltd.corporation
Foreign
Tailun (Thailand) Textile Co. Ltd. 13.40% 118232400 0
corporation
Central Huijin Assets Management State-owned
2.30%203153000
Co. Ltd. corporation
Domestic
National Social Security Fund
non-state-owned 1.09% 9660051 0
Portfolio 413
legal person
Zhong Ou China Securities Asset
Other 0.59% 5235900 0
Management Plan
Dacheng China Securities Asset
Other 0.59% 5235900 0
Management Plan
Harvest China Securities Asset
Other 0.59% 5235900 0
Management Plan
GF China Securities Asset
Other 0.59% 5235900 0
Management Plan
China China Securities Asset
Other 0.59% 5235900 0
Management Plan
Yinhua China Securities Asset
Other 0.59% 5235900 0
Management Plan
Top 10 unrestricted shareholders
Shares by type
Name of shareholder Unrestricted shares held
Type Shares
Zibo Lucheng Textile Investment RMB-denominate
140353583140353583
Co. Ltd. d ordinary stock
Domestically
Tailun (Thailand) Textile Co. Ltd. 118232400 listed foreign 118232400
stock
Central Huijin Assets Management RMB-denominate
2031530020315300
Co. Ltd. d ordinary stock
National Social Security Fund RMB-denominate
96600519660051
Portfolio 413 d ordinary stock
Zhong Ou China Securities Asset 5235900 RMB-denominate 5235900
3Lu Thai Textile Co. Ltd. Third Quarterly Report 2021
Management Plan d ordinary stock
Dacheng China Securities Asset RMB-denominate
52359005235900
Management Plan d ordinary stock
Harvest China Securities Asset RMB-denominate
52359005235900
Management Plan d ordinary stock
GF China Securities Asset RMB-denominate
52359005235900
Management Plan d ordinary stock
China China Securities Asset RMB-denominate
52359005235900
Management Plan d ordinary stock
Yinhua China Securities Asset RMB-denominate
52359005235900
Management Plan d ordinary stock
Zibo Lucheng Textile Investment Co. Ltd. is the largest shareholder of the Company and the
actual controller. Tailun (Thailand) Textile Co. Ltd. is the second largest shareholder as well
Related or acting-in-concert parties
as sponsor of foreign capital of the Company. All of other shareholders are people holding
among the shareholders above
public A share or B share and the Company is not able to confirm whether there is associated
relationship or concerted action among other shareholders.Top 10 shareholders engaged in
Naught
securities margin trading (if any)
(II) Number of Preference Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
III Other Significant Events
□ Applicable √ Not applicable
IV Quarterly Financial Statements
(I) Financial Statements
1. Consolidated Balance Sheet
Prepared by Lu Thai Textile Co. Ltd.
30 September 2021
Unit: RMB
Item 30 September 2021 31 December 2020
Current assets:
Monetary assets 2260956397.82 1400478034.81
Held-for-trading financial assets 71305416.79 268456216.98
Derivative financial assets
Notes receivable 195804307.90 182994110.86
Accounts receivable 471956282.74 522425219.87
Receivables financing 57654544.01 55150926.34
Prepayments 60785534.47 19611775.28
Other receivables 77877684.03 105710818.69
Including: Interest receivable
Dividends receivable 47025975.44 75488652.49
Financial assets purchased under resale agreements
Inventories 2138636176.51 1988968681.64
Current portion of non-current assets 89306443.09 45750018.30
4Lu Thai Textile Co. Ltd. Third Quarterly Report 2021
Other current assets 71586792.18 433432258.63
Total current assets 5495869579.54 5022978061.40
Non-current assets:
Long-term receivables 41053183.15
Long-term equity investments 125589297.38 138079577.25
Investments in other equity instruments
Other non-current financial assets 156915620.25 156915620.25
Investment property 21587643.74 22263668.85
Fixed assets 5603853514.46 5661592991.66
Construction in progress 299443972.96 356273197.49
Right-of-use assets 157350689.67
Intangible assets 365649497.22 373543480.84
Development costs
Goodwill 20563803.29 20563803.29
Long-term prepaid expense 856037.72 118340494.60
Deferred income tax assets 142197133.84 122865841.69
Other non-current assets 225147333.99 95434040.18
Total non-current assets 7119154544.52 7106925899.25
Total assets 12615024124.06 12129903960.65
Current liabilities:
Short-term borrowings 1072645623.71 930871008.19
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable
Accounts payable 224347170.63 243262473.69
Advances from customers
Contract liabilities 162389780.95 141339705.62
Employee benefits payable 232684862.24 265648198.38
Taxes and levies payable 15214370.23 36468978.77
Other payables 22609044.97 17587470.79
Including: Interest payable
Dividends payable 441113.64 441113.64
Current portion of non-current liabilities 19420557.20 43149400.13
Other current liabilities 88934814.49 192574674.68
Total current liabilities 1838246224.42 1870901910.25
Non-current liabilities:
Insurance contract reserve
Long-term borrowings 692898178.35 495520342.78
Bonds payable 1382885168.67 1350171526.97
Lease liabilities 26615607.16
Long-term payables
Long-term employee benefits payable 45772995.06 62137656.00
Provisions
Deferred income 174793765.65 173862983.31
Deferred income tax liabilities 83520933.47 85633161.44
Other non-current liabilities
5Lu Thai Textile Co. Ltd. Third Quarterly Report 2021
Total non-current liabilities 2406486648.36 2167325670.50
Total liabilities 4244732872.78 4038227580.75
Owners’ equity:
Share capital 882421067.00 858132322.00
Other equity instruments 71384758.82 71386451.81
Capital reserves 329042875.11 255912488.01
Less: Treasury stock
Other comprehensive income -7918800.59 1308922.89
Specific reserve
Surplus reserves 1154017457.79 1154017457.79
General reserve
Retained earnings 5549862874.46 5346819948.22
Total equity attributable to owners of the Company as the parent 7978810232.59 7687577590.72
Non-controlling interests 391481018.69 404098789.18
Total owners’ equity 8370291251.28 8091676379.90
Total liabilities and owners’ equity 12615024124.06 12129903960.65
Legal representative: Liu Zibin The Company’s chief accountant: Zhang Hongmei
The Company’s financial manager: Zhang Keming
2. Consolidated Income Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2021 Q1~Q3 2020
1. Revenues 3566681098.18 3370258238.57
Including: Operating revenue 3566681098.18 3370258238.57
2. Costs and expenses 3437174000.38 3257315070.05
Including: Cost of sales 2878395430.90 2561657500.48
Taxes and levies 43478612.19 53525850.22
Selling expense 71833118.67 122956030.65
Administrative expense 224935595.96 272613531.19
Development costs 192279069.87 175435194.76
Finance costs 26252172.79 71126962.75
Including: Interest expense 47286720.59 55985780.35
Interest income 26653174.94 21224691.86
Add: Other income 32202552.65 52405567.97
Return on investment (“-” for loss) 42609424.69 147917281.51
Including: Share of profit or loss of joint ventures and associates 2390020.65 -3542003.74
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) -7042658.55 -143206715.77
Credit impairment loss (“-” for loss) 8651050.43 1437305.49
Asset impairment loss (“-” for loss) -21801260.48 -51830014.22
Asset disposal income (“-” for loss) 57584604.74 -384580.81
3. Operating profit (“-” for loss) 241710811.28 119282012.69
6Lu Thai Textile Co. Ltd. Third Quarterly Report 2021
Add: Non-operating income 3710317.82 4308532.54
Less: Non-operating expense 3289918.95 3362400.42
4. Gross profit (“-” for loss) 242131210.15 120228144.81
Less: Income tax expense 7627638.21 28348574.44
5. Net profit (“-” for net loss) 234503571.94 91879570.37
5.1 By operating continuity
5.1.1 Net profit from continuing operations (“-” for net loss) 234503571.94 91879570.37
5.1.2 Net profit from discontinued operations (“-” for net loss)
5.2 By ownership
5.2.1 Net profit attributable to owners of the Company as the parent 247163916.64 95664518.83
5.2.1 Net profit attributable to non-controlling interests -12660344.70 -3784948.46
6. Other comprehensive income net of tax -9185149.27 -33111218.31
Attributable to owners of the Company as the parent -9227723.48 -33111218.31
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 -9227723.48 -33111218.31
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 other debt investments 12385.13
6.2.3 Other comprehensive income arising from the reclassification
of financial assets
6.2.4 Credit impairment allowance for other debt investments
6.2.5 Reserve for cash flow hedges
6.2.6 Differences arising from the translation of foreign
-9240108.61-33111218.31
currency-denominated financial statements
6.2.7 Other
Attributable to non-controlling interests 42574.21
7. Total comprehensive income 225318422.67 58768352.06
Attributable to owners of the Company as the parent 237936193.16 62553300.52
Attributable to non-controlling interests -12617770.49 -3784948.46
8. Earnings per share
8.1 Basic earnings per share 0.28 0.11
8.2 Diluted earnings per share 0.26 0.12
Where business combinations under common control occurred in the current period the net profit achieved by the acquirees before
the combinations was RMB0.00 with the amount for the same period of last year being RMB0.00.Legal representative: Liu Zibin The Company’s chief accountant: Zhang Hongmei
The Company’s financial manager: Zhang Keming
3. Consolidated Cash Flow Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2021 Q1~Q3 2020
7Lu Thai Textile Co. Ltd. Third Quarterly Report 2021
1. Cash flows from operating activities:
Proceeds from sale of commodities and rendering of services 3442267636.72 3384654490.80
Tax and levy rebates 67120825.12 97256293.02
Cash generated from other operating activities 57187354.22 109313561.84
Subtotal of cash generated from operating activities 3566575816.06 3591224345.66
Payments for commodities and services 2044777843.69 1739170271.74
Cash paid to and for employees 1049865869.62 1136433434.17
Taxes and levies paid 125523365.24 130625192.23
Cash used in other operating activities 101740045.00 156546456.87
Subtotal of cash used in operating activities 3321907123.55 3162775355.01
Net cash generated from/used in operating activities 244668692.51 428448990.65
2. Cash flows from investing activities:
Proceeds from disinvestment 1250970000.00 160131152.08
Return on investment 49155061.86 146015342.75
Net proceeds from the disposal of fixed assets intangible assets and
1569053.402525374.62
other long-lived assets
Net proceeds from the disposal of subsidiaries and other business units 76625459.68
Cash generated from other investing activities 65238925.65 58738249.12
Subtotal of cash generated from investing activities 1366933040.91 444035578.25
Payments for the acquisition of fixed assets intangible assets and other
360680597.37439532093.09
long-lived assets
Payments for investments 710870000.00 402215000.00
Net increase in pledged loans granted
Net payments for the acquisition of subsidiaries and other business units
Cash used in other investing activities 2385258.55 131357405.75
Subtotal of cash used in investing activities 1073935855.92 973104498.84
Net cash generated from/used in investing activities 292997184.99 -529068920.59
3. Cash flows from financing activities:
Capital contributions received 80383350.00 50000000.00
Including: Capital contributions by non-controlling interests to
50000000.00
subsidiaries
Borrowings received 1346412092.55 2791995350.02
Cash generated from other financing activities 174000000.00
Subtotal of cash generated from financing activities 1426795442.55 3015995350.02
Repayment of borrowings 1033835751.27 2092750426.79
Interest and dividends paid 76008078.32 185516027.59
Including: Dividends paid by subsidiaries to non-controlling interests 62023566.38
Cash used in other financing activities 13762509.00 160000000.00
Subtotal of cash used in financing activities 1123606338.59 2438266454.38
Net cash generated from/used in financing activities 303189103.96 577728895.64
4. Effect of foreign exchange rates changes on cash and cash equivalents 12905967.35 -27748594.23
5. Net increase in cash and cash equivalents 853760948.81 449360371.47
Add: Cash and cash equivalents beginning of the period 1396530407.47 878559018.92
6. Cash and cash equivalents end of the period 2250291356.28 1327919390.39
8Lu Thai Textile Co. Ltd. Third Quarterly Report 2021
(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 the balance sheet 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 1400478034.81 1400478034.81
Settlement reserve
Loans to other banks and financial institutions
Held-for-trading financial assets 268456216.98 268456216.98
Derivative financial assets
Notes receivable 182994110.86 182994110.86
Accounts receivable 522425219.87 522425219.87
Receivables financing 55150926.34 55150926.34
Prepayments 19611775.28 19611775.28
Other receivables 105710818.69 105710818.69
Including: Interest receivable
Dividends receivable 75488652.49 75488652.49
Financial assets purchased under resale agreements
Inventories 1988968681.64 1988968681.64
Contract assets
Assets held for sale
Current portion of non-current assets 45750018.30 45750018.30
Other current assets 433432258.63 433432258.63
Total current assets 5022978061.40 5022978061.40
Non-current assets:
Long-term receivables 41053183.15 41053183.15
Long-term equity investments 138079577.25 138079577.25
Investments in other equity instruments
Other non-current financial assets 156915620.25 156915620.25
Investment property 22263668.85 22263668.85
Fixed assets 5661592991.66 5661592991.66
Construction in progress 356273197.49 356273197.49
Right-of-use assets 123826579.05 123826579.05
Intangible assets 373543480.84 373543480.84
Development costs
Goodwill 20563803.29 20563803.29
-116934146.8
Long-term prepaid expense 118340494.60 1406347.76
4
Deferred income tax assets 122865841.69 122865841.69
Other non-current assets 95434040.18 95434040.18
Total non-current assets 7106925899.25 7113818331.46 6892432.21
9Lu Thai Textile Co. Ltd. Third Quarterly Report 2021
Total assets 12129903960.65 12136796392.86 6892432.21
Current liabilities:
Short-term borrowings 930871008.19 930871008.19
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable
Accounts payable 243262473.69 243262473.69
Advances from customers
Contract liabilities 141339705.62 141339705.62
Employee benefits payable 265648198.38 265648198.38
Taxes and levies payable 36468978.77 36468978.77
Other payables 17587470.79 17587470.79
Including: Interest payable
Dividends payable 441113.64 441113.64
Liabilities directly associated with assets held for
sale
Current portion of non-current liabilities 43149400.13 43599400.13 450000.00
Other current liabilities 192574674.68 192574674.68
Total current liabilities 1870901910.25 1871351910.25 450000.00
Non-current liabilities:
Insurance contract reserve
Long-term borrowings 495520342.78 495520342.78
Bonds payable 1350171526.97 1350171526.97
Lease liabilities 6442432.21 6442432.21
Long-term payables
Long-term employee benefits payable 62137656.00 62137656.00
Provisions
Deferred income 173862983.31 173862983.31
Deferred income tax liabilities 85633161.44 85633161.44
Other non-current liabilities
Total non-current liabilities 2167325670.50 2173768102.71 6442432.21
Total liabilities 4038227580.75 4045120012.96 6892432.21
Owners’ equity:
Share capital 858132322.00 858132322.00
Other equity instruments 71386451.81 71386451.81
Capital reserves 255912488.01 255912488.01
Less: Treasury stock
Other comprehensive income 1308922.89 1308922.89
Specific reserve
Surplus reserves 1154017457.79 1154017457.79
General reserve
Retained earnings 5346819948.22 5346819948.22
Total equity attributable to owners of the Company as
7687577590.727687577590.72
the parent
Non-controlling interests 404098789.18 404098789.18
Total owners’ equity 8091676379.90 8091676379.90
Total liabilities and owners’ equity 12129903960.65 12136796392.86 6892432.21
Note for adjustment
10Lu Thai Textile Co. Ltd. Third Quarterly Report 2021
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.Board of Director
Lu Thai Textile Co. Ltd.
29 October 2021
11
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