ShenZhen Tellus Holding Co., Ltd. The 1st Quarterly Report for 2009(Full Text)
1
ShenZhen Tellus Holding Co., Ltd.
The 1st Quarterly Report for 2009
(Full Text)
§1. Important Notice
1.1 Board of Directors and the Supervisory Committee of ShenZhen Tellus Holding Co., Ltd.
(hereinafter referred to as the Company) and its directors, supervisors and senior executives hereby
confirm that there are no any fictitious statements, misleading statements, or important omissions
carried in this report, and shall take all responsibilities, individual and/or joint, for the reality,
accuracy and completion of the whole contents.
1.2 The Financial Report For the 1st Quarterly of the Company has not been audited by CPAs.
1.3 Principal of the Company Zhang Ruili, Person in Charge of Accounting Works Cheng Peng, and
Person in Charge of Accounting Organ (Accounting Supervisor) Fu Bin hereby confirm that the
Financial Report enclosed in the 1st Quarterly Report is true and complete.
§2. Company Profile
2.1 Main Accounting Data and Financial Indexes:
Unit: RMB
At the end of the report
period At the end of the last year Changes of
increase/decrease (%)
Total assets 610,272,189.09 614,544,088.77 -0.70%
Equity attributable to owners of
the parent company 156,207,117.49 163,709,500.27 -4.58%
Share capital 220,281,600.00 220,281,600.00 0.00%
Net asset per share attributable to
owners of the parent company 0.709 0.743 -4.58%
In the report period The same period of last
year
Changes of
increase/decrease (%)
Total operating income 94,679,334.58 203,753,029.96 -53.53%
Net profit attributable to owners
of the parent company -7,799,504.02 -3,491,240.49 -123.40%
Net cash flow arising from
operating activities 10,644,838.47 14,043,818.51 -24.20%
Net cash flow arising from
operating activities per share 0.048 0.064 -25.00%
Basic earnings per share -0.0354 -0.0158 -123.40%
Diluted earnings per share -0.0354 -0.0158 -123.40%
Return on equity -4.99% -2.30% -2.69%
Return on equity after deducting
the non-recurring losses and
gains
-5.70% -2.14% -3.56%
Items of non-recurring gains and losses Amount in year-begin to
the end of report period
Losses/gains from the disposal of non-current asset(Non-equity assets) 67,269.31
Losses/gains from debt restructuring 1,008,578.13
Net amount of non-operating income and expenditure 7,484.00
Funds occupied capital received from non-financial enterprises reckoned into current
losses/gains 18,749.99
Total 1,102,081.43
Explanations on items of non-recurring gains and lossesShenZhen Tellus Holding Co., Ltd. The 1st Quarterly Report for 2009(Full Text)
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Naught
2.2 Total number of shareholders at the end of the report period and shares held by the top ten
shareholders with unrestricted conditions
Unit: Share
Total number of shareholders
at the end of report period 18,440
Particulars about the shares held by the top ten tradable shareholders with unrestricted conditions
Full Name of shareholder
Amount of tradable shares with
unrestricted conditions held at the
end of report period
Type of shares
SHENZHEN SDG CO., LTD. 131,283,504 RMB ordinary shares
BOCI SECURITIES LIMITED 902,292 Domestically listed foreign shares
JIANG XIN YUAN 540,800 Domestically listed foreign shares
THE FISRT SHANGHAI SECURITIES
CO., LTD. 454,200 Domestically listed foreign shares
ZHANG ZI BIN 444,839 RMB ordinary shares
YE YING 440,000 RMB ordinary shares
HE XIN 422,800 Domestically listed foreign shares
SONG YING JIE 381,688 RMB ordinary shares
YIN XIAO WEI 381,600 RMB ordinary shares
LONG KE YI 363,538 RMB ordinary shares
§3. Significant events
3.1 Particulars about material changes in items of main accounting statement and financial index,
and explanations of reasons
√Applicable □Inapplicable
Item Jan. to Mar., 2009 Jan. to Mar., 2008 Increase or
decrease amount
Scope of
increase or
decrease (%)
Operation income 94,679,334.58 203,753,029.96 -109,073,695.38 -53.53%
Operation cost 79,515,375.80 182,435,459.99 -102,920,084.19 -56.41%
Sales expense 4,903,947.49 10,697,481.84 -5,793,534.35 -54.16%
Financial expense 2,410,624.86 3,634,645.45 -1,224,020.59 -33.68%
Investment income -947,253.00 2,603,781.34 -3,551,034.34 -136.38%
Non-operating income 1,093,836.91 44,703.16 1,049,133.75 2346.89%
Net profit -7,799,504.02 -3,491,240.49 -4,308,263.53 -123.40%
Main reasons for great decline on net profit compared to that of the same period of last year:
1. Main reasons for decrease of income were: the Company did not take Shenzhen Biaoyuan
Automobile Co., Ltd. into consolidation scope; furious competition in automobile market and auto
sales declined.
2. Operation cost and sales expense correspondingly decreased due to the decrease of operation
income.
3. Financial expense decreased mainly due to the decrease of borrowing principal.
4. Investment income decreased mainly due to that income from share-participation enterprises
decreased measured by equity method.
5. Increase of non-operating income mainly came from income from debt restructuring.ShenZhen Tellus Holding
Co., Ltd. The 1st Quarterly Report for 2009(Full Text)
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3.2 Analysis and explanation of significant events and their influence and solutions
□Applicable √Inapplicable
3.3 Implementations of commitments by the Company, shareholders and actual controller
√Applicable □Inapplicable
Commitments Content of commitments Implementation
Commitments for Share
Merger Reform
To effectively boost the core management team and business
backbones for long, SDG would take out its shares, not
exceeding 10% in total number after the Share Merger Reform,
and apply them to the boost of the management team. The shares
would be sold to the Company’s management team over 3 years,
with the selling price being the net asset value per share audited
during the period nearest to the implementation. Before the
implementation of the promoting plan by share selling each year,
the management team must prepay the Company a risk
responsibility fund, i.e. 20% of the planned selling price; Should
the work of the performance examination set by the Board failed
to be finished, the paid risk responsibility fund would not be
refunded and shall be owned by the Company. Detailed rules
concerning the limitations on the management team, such as the
subscription conditions and risk responsibility fund, and boost
plans would be set by the Board and submitted to relevant
departments for approval. The implementation of the shares for
promoting would be conducted strictly according to relevant laws
and regulations, and the circulation conditions of these shares
would be in conformity with relevant regulations set by the
Shenzhen Stock Exchange.
Under the
implementation
Commitments on share
restriction for trading
Within 36 months since the day the reform plan starts to take
effect, SDG would not list at Shenzhen Stock Exchange and sell
the ST Tellus it held (except for the shares used to promote the
management team of Tellus).
Have been
implemented
Commitments made in
Acquisition Report or
Reports on Change in
Interests
Naught Naught
Commitments made in
Material Assets
Reorganization
Naught Naught
Commitments made in
issuing Naught Naught
Other commitments
(including additional
commitments)
Naught Naught
3.4 Estimation of accumulative net profit from the beginning of the year to the end of next report
period to be loss probably or the warning of its material change compared with the corresponding
period of the last year and explanation of reason
□Applicable √Inapplicable
3.5 Other significant events which need explanations
3.5.1 Particulars about securities investment
√Applicable □Inapplicable
Unit: RMB
No. Securities Stock code Short form of Initial Amount Book value at Total Gains andShenZhen Tellus Holding
Co., Ltd. The 1st Quarterly Report for 2009(Full Text)
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kinds the stock investment
amount
(RMB)
held
(Share)
period-end
(RMB)
investment
proportion
of securities
in
period-end
(%)
losses in report
period
(RMB)
1 Stock 600036
China
Merchants
Bank
60,581.05 78,812.00 1,255,475.16 100.00% 297,121.24
Other stock investment held at the end of
report period 0.00 - 0.00 0.00% 0.00
Gain/loss of the sold securities investment in
the report period - - - - 0.00
Total 60,581.05 - 1,255,475.16 100% 297,121.24
Explanations on securities investment
Naught
3.5.2 Registration form for receiving research, communication and interview in the report period.
In the report period, there were no receptions from the investors such as spot research, telephone
communications and written enquiries.
3.5.3 Particulars about the explanations on other significant events
□Applicable √Inapplicable
§4. Appendix
4.1 Balance sheet
Prepared byShenZhen Tellus Holding Co., Ltd. March 31, 2009 Unit: RMB
Balance at Items Merger pePriaorde-netn Cd ompany MerBgaelra n ce at yePara-rbeengt iCn ompany
Current assets:
Monetary funds 40,290,112.55 627,766.71 39,674,670.71 585,403.42
Settlement provisions
Capital lent
Transaction finance asset
Notes receivable
Accounts receivable 13,779,337.03 12,965,748.61
Accounts paid in advance 21,273,408.34 7,569,033.13
Insurance receivable
Reinsurance receivables
Contract reserve of
reinsurance receivable
Interest receivable
Dividend receivable
Other receivables 25,771,840.83 36,282,835.65 17,496,636.48 28,129,856.31
Purchase restituted finance
asset
Inventories 29,539,698.39 51,262,965.42
Non-current asset due within
one year
Other current assets
Total current assets 130,654,397.14 36,910,602.36 128,969,054.35 28,715,259.73
Non-current assets:ShenZhen Tellus Holding Co., Ltd. The 1st Quarterly Report for 2009(Full Text)
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Granted loans and advances
Finance asset available for
sales 1,255,475.16 1,255,475.16 958,353.92 958,353.92
Held-to-maturity securities 121,300.00 1,051,300.00
Long-term account
receivable
Long-term equity investment 138,344,534.26 356,035,641.13 139,218,587.26 356,957,694.13
Investment property 122,774,662.45 70,003,876.20 124,071,906.35 70,745,180.16
Fixed assets 187,519,044.82 21,666,344.94 190,592,017.58 21,929,555.35
Construction in progress
Engineering material
Disposal of fixed asset
Productive biological asset
Oil and gas asset
Intangible assets 232,693.36 232,693.36 244,023.34 244,023.34
Expense on Research and
Development
Goodwill
Long-term expenses to be
apportioned 1,145,277.08 14,655.61 1,214,041.15 18,037.72
Deferred income tax asset 28,224,804.82 12,076,726.82 28,224,804.82 12,076,726.82
Other non-current asset
Total non-current asset 479,617,791.95 461,285,413.22 485,575,034.42 462,929,571.44
Total assets 610,272,189.09 498,196,015.58 614,544,088.77 491,644,831.17
Current liabilities:
Short-term loans 126,867,608.12 65,111,598.12 133,511,834.70 79,711,329.70
Loan from central bank
Absorbing deposit and
interbank deposit
Capital borrowed
Transaction financial
liabilities
Notes payable 1,194,477.04
Accounts payable 34,283,440.37 1,554.00 31,910,199.64 1,554.00
Accounts received in
advance 3,137,684.36 5,147,850.02
Selling financial asset of
repurchase
Commission charge and
commission payable
Wage payable 7,184,584.92 1,216,360.18 9,576,937.52 1,381,270.28
Taxes payable 9,942,863.76 1,566,633.07 6,676,027.32 1,580,143.33
Interest payable
Dividend payable
Other accounts payable 142,152,550.12 227,855,143.25 130,578,197.83 203,603,126.36
Reinsurance payables
Insurance contract reserve
Security trading of agency
Security sales of agency
Non-current liabilities due
within 1 year
Other current liabilities
Total current liabilities 323,568,731.65 295,751,288.62 318,595,524.07 286,277,423.67
Non-current liabilities:
Long-term loans 12,800,000.00 14,600,000.00ShenZhen Tellus Holding Co., Ltd. The 1st Quarterly Report for 2009(Full Text)
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Bonds payable
Long-term account payable 4,209,595.37 4,209,595.37
Special accounts payable
Projected liabilities 87,568,728.57 87,568,728.57 87,568,728.57 87,568,728.57
Deferred income tax liabilities 2,583,414.85 179,554.57 2,583,414.85 179,554.57
Other non-current liabilities
Total non-current liabilities 107,161,738.79 87,748,283.14 108,961,738.79 87,748,283.14
Total liabilities 430,730,470.44 383,499,571.76 427,557,262.86 374,025,706.81
Owner’s equity (or shareholders’
equity):
Paid-in capital (or share
capital) 220,281,600.00 220,281,600.00 220,281,600.00 220,281,600.00
Capital public reserve 7,459,803.05 5,494,521.77 7,162,681.81 5,197,400.53
Less: Inventory shares
Surplus public reserve 2,952,586.32 2,952,586.32 2,952,586.32 2,952,586.32
Provision of general risk
Retained profit -74,486,871.88 -114,032,264.27 -66,687,367.86 -110,812,462.49
Balance difference of
foreign currency translation
Total owner’s equity attributable
to parent company 156,207,117.49 114,696,443.82 163,709,500.27 117,619,124.36
Minority interests 23,334,601.16 23,277,325.64
Total owner’s equity 179,541,718.65 114,696,443.82 186,986,825.91 117,619,124.36
Total liabilities and owner’s
equity 610,272,189.09 498,196,015.58 614,544,088.77 491,644,831.17
4.2 Profit statement
Prepared byShenZhen Tellus Holding Co., Ltd. Jan.-Mar., 2009 Unit: RMB
Amount i Items Merger n thiPsa preenrito Cd ompany MerAgmero u nt in lasPta preenrito Cd o mpany
I. Total operating income 94,679,334.58 3,039,363.19 203,753,029.96 3,218,368.68
Including: Operating income 94,679,334.58 3,039,363.19 203,753,029.96 3,218,368.68
Interest income
Insurance gained
Commission charge and
commission income
II. Total operating cost 102,476,984.43 5,301,921.97 210,595,287.96 5,855,120.03
Including: Operating cost 79,515,375.80 956,854.20 182,435,459.99 993,599.56
Interest expense
Commission charge and
commission expense
Cash surrender value
Net amount of expense of
compensation
Net amount of withdrawal
of insurance contract reserve
Bonus expense of
guarantee slip
Reinsurance expense
Operating tax and extras 865,690.58 158,046.89 881,936.33 167,355.17
Sales expenses 4,903,947.49 10,697,481.84
Administration expenses 14,781,345.70 3,049,575.38 12,945,764.35 3,084,929.24
Financial expenses 2,410,624.86 1,137,445.50 3,634,645.45 1,609,236.06
Losses of devaluation ofShenZhen Tellus Holding Co., Ltd. The 1st Quarterly Report for 2009(Full Text)
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asset
Add: Changing income of
fair value(Loss is listed with
“-”)
Investment income (Loss
is listed with “-”) -947,253.00 -947,253.00 2,603,781.34 2,523,750.00
Including: Investment
income on affiliated company
and joint venture
Exchange income (Loss is
listed with “-”)
III. Operating profit (Loss is
listed with “-”) -8,744,902.85 -3,209,811.78 -4,238,476.66 -113,001.35
Add: Non-operating
income 1,093,836.91 44,703.16 -100,000.00
Less: Non-operating
expense 10,260.00 9,990.00 301,215.65 206,628.26
Including: Disposal loss of
non-current asset
IV. Total Profit (Loss is listed
with “-”) -7,661,325.94 -3,219,801.78 -4,494,989.15 -419,629.61
Less: Income tax 80,902.56 177,551.69
V. Net profit (Net loss is listed
with “-”) -7,742,228.50 -3,219,801.78 -4,672,540.84 -419,629.61
Net profit attributable to
owner’s equity of parent
company
-7,799,504.02 -3,491,240.49
Minority shareholders’
gains and losses 57,275.52 -1,181,300.35
VI. Earnings per share
i. Basic earnings per share -0.0354 -0.0158
ii. Diluted earnings per share -0.0354 -0.0158
4.3 Cash flow statement
Prepared byShenZhen Tellus Holding Co., Ltd. Jan.-Mar., 2009 Unit: RMB
Amount i Items Merger n thiPsa preenrito Cd ompany MerAgmero u nt in lasPta preenrito Cd o mpany
I. Cash flows arising from
operating activities:
Cash received from selling
commodities and providing labor
services
102,385,184.18 262,540.40 283,315,347.87 186,540.40
Net increase of customer
deposit and interbank deposit
Net increase of loan from
central bank
Net increase of capital
borrowed from other financial
institution
Cash received from original
insurance contract fee
Net cash received from
reinsurance business
Insured savings and net
increase of investmentShenZhen Tellus Holding Co., Ltd. The 1st Quarterly Report for 2009(Full Text)
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Net increase of disposal of
transaction financial asset
Cash received from interest,
commission charge and
commission
Net increase of capital
borrowed
Net increase of returned
business capital
Write-back of tax received 24,014.06
Other cash received
concerning operating activities 37,702,015.23 18,311,204.46 142,925,920.00 13,116,586.53
Subtotal of cash inflow
arising from operating activities 140,111,213.47 18,573,744.86 426,241,267.87 13,303,126.93
Cash paid for purchasing
commodities and receiving labor
service
73,352,172.34 226,831,236.86
Net increase of customer
loans and advances
Net increase of deposits in
central bank and interbank
Cash paid for original
insurance contract compensation
Cash paid for interest,
commission charge and
commission
Cash paid for bonus of
guarantee slip
Cash paid to/for staff and
workers 18,361,195.22 2,400,121.27 20,999,193.09 2,482,094.39
Taxes paid 4,197,862.87 465,583.41 4,229,531.75 545,308.20
Other cash paid concerning
operating activities 33,555,144.57 797,389.77 160,137,487.66 1,742,583.22
Subtotal of cash outflow
arising from operating activities 129,466,375.00 3,663,094.45 412,197,449.36 4,769,985.81
Net cash flows arising from
operating activities 10,644,838.47 14,910,650.41 14,043,818.51 8,533,141.12
II. Cash flows arising from
investing activities:
Cash received from
recovering investment
Cash received from
investment income 231,435.45
Net cash received from
disposal of fixed, intangible and
other long-term assets
2,360.00 360.00 115,612.40
Net cash received from
disposal of subsidiaries and
other units
9,900,000.00
Other cash received
concerning investing activities 78,798.67
Subtotal of cash inflow
from investing activities 2,360.00 360.00 10,325,846.52
Cash paid for purchasing
fixed, intangible and other
long-term assets
208,998.00 144,068.90 7,060.00ShenZhen Tellus Holding Co., Ltd. The 1st Quarterly Report for 2009(Full
Text)
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Cash paid for investment 48,000.00 229,470.00
Net increase of mortgaged
loans
Net cash received from
subsidiaries and other units
Other cash paid concerning
investing activities 52,840.00
Subtotal of cash outflow
from investing activities 256,998.00 426,378.90 7,060.00
Net cash flows arising from
investing activities -254,638.00 360.00 9,899,467.62 -7,060.00
III. Cash flows arising from
financing activities
Cash received from
absorbing investment
Including: Cash received
from absorbing minority
shareholders’ investment by
subsidiaries
Cash received from loans 17,200,000.00 15,000,000.00
Cash received from issuing
bonds
Other cash received
concerning financing activities 52,456.52 10,389,837.82
Subtotal of cash inflow
from financing activities 17,252,456.52 25,389,837.82
Cash paid for settling debts 25,772,206.30 14,600,000.00 35,913,941.75 8,300,000.00
Cash paid for dividend and
profit distributing or interest
paying
1,065,495.13 268,690.40 2,211,087.85 404,988.81
Including: Dividend and
profit of minority shareholder
paid by subsidiaries
Other cash paid concerning
financing activities 190,460.00 15,517,654.70
Subtotal of cash outflow
from financing activities 27,028,161.43 14,868,690.40 53,642,684.30 8,704,988.81
Net cash flows arising from
financing activities -9,775,704.91 -14,868,690.40 -28,252,846.48 -8,704,988.81
IV. Influence on cash due to
fluctuation in exchange rate 946.28 43.28 -14,821.87 -10,007.81
V. Net increase of cash and cash
equivalents 615,441.84 42,363.29 -4,324,382.22 -188,915.50
Add: Balance of cash and
cash equivalents at the period
-begin
39,674,670.71 585,403.42 75,872,874.23 774,989.67
VI. Balance of cash and cash
equivalents at the period -end 40,290,112.55 627,766.71 71,548,492.01 586,074.17
4.4 Auditor’ report
Auditor’s opinions: Un-audited
Chairman of the Board: Zhang Ruili
Board of Directors of
ShenZhen Tellus Holding Co., Ltd.
April 21, 2009
