Hainan Jingliang Holdings Co., Ltd. Third Quarter Report 2019
HAINAN JINGLIANG HOLDINGS CO., LTD.
THIRD QUARTER REPORT 2019
October 2019
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Hainan Jingliang Holdings Co., Ltd. Third Quarter Report 2019
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. (together with its
consolidated subsidiaries, the “Company”, except where the context otherwise requires)
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.
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Hainan Jingliang Holdings Co., Ltd. Third Quarter Report 2019
Part II Key Corporate Information
I Key Consolidated Financial Information
Indicate by tick mark whether there is any retrospectively restated datum in the table below.
□ Yes √ No
30 September 2019 31 December 2018 Change (%)
Total assets (RMB) 5,132,178,541.12 4,917,148,996.28 4.37%
Equity attributable to the listed
2,358,063,029.90 2,272,469,925.43 3.77%
company’s shareholders (RMB)
Q3 2019 YoY change (%) Q1-Q3 2019 YoY change (%)
Operating revenue (RMB) 1,824,886,529.92 -3.94% 5,108,164,255.31 -7.79%
Net profit attributable to the listed
33,840,967.80 -20.08% 85,351,872.21 -16.54%
company’s shareholders (RMB)
Net profit attributable to the listed
company’s shareholders before 28,276,307.45 -34.00% 69,470,781.04 -30.00%
exceptional items (RMB)
Net cash generated from/used in
-- -- 446,745,732.08 6.47%
operating activities (RMB)
Basic earnings per share (RMB/share) 0.05 -16.67% 0.12 -20.00%
Diluted earnings per share
0.05 -16.67% 0.12 -20.00%
(RMB/share)
Weighted average return on equity
1.48% -26.00% 3.69% -22.00%
(%)
Exceptional gains and losses:
√ Applicable □ Not applicable
Unit: RMB
Item Q1-Q3 2019 Note
Gain or loss on disposal of non-current assets (inclusive of impairment
11,265,753.65
allowance write-offs)
Government subsidies recognized in the current period, except for those
acquired in the ordinary course of business or granted at certain quotas or 3,058,788.87
amounts according to the government’s unified standards
Gains/Losses on fair value changes of trading financial assets and liabilities
& investment income from disposal of trading financial assets and 7,948,330.08
liabilities as well as financial assets available for sale (exclusive of
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Hainan Jingliang Holdings Co., Ltd. Third Quarter Report 2019
effective hedges related to normal business operations of the Company)
Non-operating income and expense other than above 889,800.28
Project confirmed with the definition of non-recurring gains and losses and
-122,538.24
losses
Less: Income tax effects 5,760,033.66
Non-controlling interests effects (net of tax) 1,399,009.81
Total 15,881,091.17 --
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 30 September 2019
1. Numbers of Ordinary Shareholders and Preferred Shareholders with Resumed Voting Rights as well as
Holdings of Top 10 Shareholders
Unit: share
Number of preferred
Number of ordinary shareholders 38,631 shareholders with resumed 0
voting rights (if any)
Top 10 shareholders
Shares in pledge or
Nature of Shareholding Number of Restricted
Name of shareholder frozen
shareholder percentage shares shares
Status Shares
State-owned
BEIJING GRAIN GROUP CO., LTD. 42.06% 288,439,561 164,877,598
legal person
BEIJING STATE-OWNED CAPITAL
State-owned
OPERATION AND MANAGEMENT 7.07% 48,510,460 48,510,460
legal person
CENTER
CHINA DEVELOPMENT BANK State-owned
2.97% 20,393,051 0
CAPITAL CO., LTD. legal person
Foreign natural
LI SHERYN ZHAN MING 2.54% 17,425,400 0
person
GOLD BUFFALO RUNYING
(TIANJIN) EQUITY INVESTMENT Other 2.20% 15,116,472 0
FUND MANAGEMENT CO.,
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Hainan Jingliang Holdings Co., Ltd. Third Quarter Report 2019
LTD.—GOLD BUFFALO RUNYING
(TIANJIN) EQUITY INVESTMENT
FUND (L.P.)
Domestic
MEI JIANYING 0.38% 2,604,203 0
natural person
Domestic
HU TIANGAO 0.34% 2,356,052 0
natural person
Domestic
ZHANG XIAOXIA 0.28% 1,949,250 0
natural person
Domestic
WANG XIAOXING 0.25% 1,742,700 0
natural person
Domestic
LIN LI 0.24% 1,669,600 0
natural person
Top 10 unrestricted shareholders
Shares by type
Name of shareholder Unrestricted shares
Type Shares
RMB-denominate
BEIJING GRAIN GROUP CO., LTD. 123,561,963 123,561,963
d ordinary stock
RMB-denominate
CHINA DEVELOPMENT BANK CAPITAL CO., LTD. 20,393,051 20,393,051
d ordinary stock
Domestically
LI SHERYN ZHAN MING 17,425,400 listed foreign 17,425,400
stock
GOLD BUFFALO RUNYING (TIANJIN) EQUITY
INVESTMENT FUND MANAGEMENT CO., RMB-denominate
15,116,472 15,116,472
LTD.—GOLD BUFFALO RUNYING (TIANJIN) d ordinary stock
EQUITY INVESTMENT FUND (L.P.)
RMB-denominate
MEI JIANYING 2,604,203 2,604,203
d ordinary stock
RMB-denominate
HU TIANGAO 2,356,052 2,356,052
d ordinary stock
Domestically
ZHANG XIAOXIA 1,949,250 listed foreign 1,949,250
stock
RMB-denominate
WANG XIAOXING 1,742,700 1,742,700
d ordinary stock
RMB-denominate
LIN LI 1,669,600 1,669,600
d ordinary stock
CHEN OUQIN 1,652,679 RMB-denominate 1,652,679
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Hainan Jingliang Holdings Co., Ltd. Third Quarter Report 2019
d ordinary stock
Beijing State-Owned Capital Operation And Management Center owns
100% of Beijing Grain Group Co., Ltd., and Beijing Grain Group Co.,
Related or acting-in-concert parties among shareholders
Ltd. is a shareholder of the Company (a 42.06% holding). Apart from
above
that, the Company does not know whether there are any other related
parties or acting-in-concert parties among the top 10 shareholders.
1. Shareholder Wang Xiaoxing holds 1,742,700 shares in the Company
through his account of collateral securities for margin trading in
Soochow Securities Co., Ltd.
Top 10 ordinary shareholders involved in securities
2. Shareholder Hu Tiangao holds 338,000 shares in the Company
margin trading (if any)
through his account of collateral securities for margin trading in
Zheshang Securities Co., Ltd. and 2,018,052 shares in the Company
through his common account.
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.
□ Yea √ No
No such cases in the Reporting Period.
2. Number of Preferred Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
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Hainan Jingliang Holdings Co., Ltd. Third Quarter Report 2019
Part III Significant Events
I Changes in Selected Consolidated Financial Statement Line Items and Explanation of why
√ Applicable □ Not applicable
1. The decrease of monetary capital primarily driven by the repayment of bank borrowings and purchase of
income receipts regarding cash management of raised funds during the Reporting Period.
2. The increase of prepayments primarily driven by the increase of prepayments to suppliers arising from increase
of procurement out of necessity of production and operation during the Reporting Period.
3. The increase of other receivables primarily driven because the charge of warehouse service for Q3 2019 has not
been received yet as at 30 September 2019.
4. The increase of other current assets primarily because the purchase of income receipts regarding cash
management of raised funds during the Reporting Period has not expired yet as at 30 September 2019.
5. The decrease of construction in progress primarily driven by the transfer of some construction in progress into
fixed assets due to completion during the Reporting Period.
6. The increase of other non-current assets primarily driven by the increase of fixed time deposits of more than
one year during the Reporting Period.
7. The increase of notes payable and accounts payable primarily driven by the increase of debts to suppliers
arising from increase of procurement out of necessity of production and operation.
8. The decrease of payroll payable primarily driven by the payment in the Reporting Period of the 2018 annual
performance pay that had been set aside in 2018.
9. The increase of asset disposal income primarily driven by the net income from demolition of some courtyard
walls of the Company located at Luhe, Tongzhou District, Beijing for the eastern expansion of Guangqu Road in
2019.
10. The increase of net cash generated from financing activities primarily driven by bank loan repayment in 2019
out of necessity of production and operation plans.
11. The decrease of net profit attributable to the listed company’s shareholders before exceptional items is
primarily driven by the negative effects on the Sino-US trade friction and the increase of the raw material cost and
others.
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Hainan Jingliang Holdings Co., Ltd. Third Quarter Report 2019
II Progress, Influence and Solutions Associated with Significant Events
√ Applicable □ Not applicable
Overview of significant events Disclosure date Announcement index
The Company and its wholly-owned Cninfo: Announcement of Hainan Jingliang Holdings Co., Ltd. on
subsidiary Beijing Jingliang Food 13 July 2019 Suspension of Trading of the Company’s Stocks for Plan of Asset
Co., Ltd. intend to purchase 25.1149% Purchase via Cash Payment and Share Offering (2019-045)
of equity interests in Zhejiang
Cninfo: Indicative Announcement of Hainan Jingliang Holdings
Xiaowangzi Food Share Co, Ltd. Co., Ltd. on Plan of Asset Purchase via Cash Payment and Share
collectively held by six natural 22 July 2019
Offering and Related-party Transactions and Resumption of
persons via cash payment and share Trading of the Company’s Stocks (2019-046)
offering. The six natural persons are
Cninfo: Announcement of Hainan Jingliang Holdings Co., Ltd. on
Wang Yuecheng, Qiu Xiaobin, Hong
Progress of Plan of Asset Purchase via Cash Payment and Share
Muqiang, Zhu Yanjun, Yao Zishan 21 August 2019
Offering and Related-party Transactions after Disclosure thereof
and Shuai Yiwu. The Company held
(2019-056)
the board meeting on 19 July 2019, on
which the Proposal on Plan of Asset
Purchase via Cash Payment and
Cninfo: Announcement of Hainan Jingliang Holdings Co., Ltd. on
Share Offering by Hainan Jingliang
Progress of Plan of Asset Purchase via Cash Payment and Share
Holdings Co., Ltd. and its Summary 21 September 2019
Offering and Related-party Transactions after Disclosure thereof
and proposals in relation to this
(2019-065)
transaction were reviewed and
approved.
The 8th Board of Directors and the 8th Cninfo: Announcement of Hainan Jingliang Holdings Co., Ltd. on
24 September 2019
Supervisory Committee expired in Changing Directors and Supervisors (2019-067)
September 2019. Then, the Company
Cninfo: Announcement of Hainan Jingliang Holdings Co., Ltd. on
held the 3rd Extraordinary General
27 September 2019 Resolutions of the 1st Meeting of the 9th Board of Directors
Meeting of 2019 on 23 September
(2019-068)
2019 and approved all proposals in
relation to the general election of the
Board of Directors and the
Supervisory Committee via
cumulative voting and held the 1st
Meeting of the 9th Board of Directors
and the 1st Meeting of the 9th Cninfo: Announcement of Hainan Jingliang Holdings Co., Ltd. on
Supervisory Committee on 26 27 September 2019 Resolutions of the 1st Meeting of the 9th Supervisory Committee
September 2019, on which the (2019-069)
Chairman of the Board, the Chairman
of the Supervisory Committee and
members of all special committees
were elected and the senior
management were engaged.
Progress on any share repurchases:
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Hainan Jingliang Holdings Co., Ltd. Third Quarter Report 2019
□ Applicable √ Not applicable
Progress on reducing the repurchased shares by means of centralized bidding:
□ Applicable √ Not applicable
III Commitments that the Company’s Actual Controller, Shareholders, Related Parties and
Acquirers, as well as the Company Itself and Other Parties, Failed to Fulfill on Time during
Reporting Period
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IV Securities Investments
√ Applicable □ Not applicable
Unit: RMB
Gain/Lo
Accumu
ss on
lated
fair-valu Purchas Gain/los
Initial Beginni fair-valu Sold in
Security Security Security Measure e ed in s in Ending Account Funding
ng e Reporti
investm ment changes Reporti Reporti carrying
type code name carrying changes ng
method in ng ng amount ing title source
ent cost amount charged Period
Reporti Period Period
to
ng
equity
Period
20,647, 20,647,
Cost 2,070,7 Self-rais
Other 204001 GC001 200,000 200,000 Other
method 48.08 ed
.00 .00
Cost 300,000 300,000 74,650. Self-rais
Other 204004 GC004 Other
method ,000.00 ,000.00 83 ed
Cost 120,200 120,200 119,991. Self-rais
Other 204007 GC007 Other
method ,000.00 ,000.00 46 ed
Cost 100,300 100,300 98,005. Self-rais
Other 204014 GC014 Other
method ,000.00 ,000.00 90 ed
21,167, 21,167,
2,363,3
Total 0.00 -- 0.00 0.00 0.00 700,000 700,000 0.00 -- --
96.27
.00 .00
Disclosure date of
announcement on Board’s
21 February 2019
consent for securities
investments
Disclosure date of
N/A
announcement on general
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Hainan Jingliang Holdings Co., Ltd. Third Quarter Report 2019
meeting’s consent for
securities investments (if
any)
V Wealth Management Entrustment
√ Applicable □ Not applicable
Unit: RMB’0,000 (in RMB ten thousand yuan)
Type of wealth Outstanding amount
Funding source Principal Overdue amount
management before maturity
Wealth management
product purchased from Idle raised 38,700 38,700 0
securities trader
Wealth management
product purchased from Self-funded 9,030 3,430 0
bank
Total 47,730 42,130 0
High-risk wealth management entrustments with amounts that are individually significant, or with low security,
low liquidity, or no protection of the principal:
√ Applicable □ Not applicable
Unit: RMB’0,000 (in RMB ten thousand yuan)
Overv
Collec
iew
tion/pa Throu
Type Refere Expect Actual Any and
Invest yment Impair gh
of Way nce ed gain/lo plan index
Type Fundi ment of ment prescri
Truste wealth Princi Start End of annual earnin ss in for to
of ng with gain/lo allowa bed
e manag pal date date payba ized gs Report further more
trustee source princi ss in nce (if proced
ement ck return (if ing entrust infor
pal Report any) ure or
product (%) any) Period ment matio
ing not
n (if
Period
any)
Pay
the
www.
Agree princi
CITIC Securit Certific 14 cninfo
Idle ment pal
SECU ies ation 4 July Octob Unred .com.c
38,700 raised of and 2.70% 0 Yes Yes
RITIE compa of trust 2019 er eemed n:
capital contra earnin
S ny receipt 2019 2019-
ct gs at
044
the
maturi
10
Hainan Jingliang Holdings Co., Ltd. Third Quarter Report 2019
ty date
of
invest
ment
Total 38,700 -- -- -- -- -- -- 0 0 -- -- -- --
Wealth management entrustments with possible impairments including an expectedly unrecoverable principal:
□ Applicable √ Not applicable
VI Investments in Derivative Financial Instruments
√ Applicable □ Not applicable
Unit: RMB’0,000 (in RMB ten thousand yuan)
Ending investment Actual
Ending as % of the gain/loss in
Type of derivative Start date End date
investment Company’s ending net Reporting
assets Period
Agricultural product future
1 January 2019 30 September 2019 7,532.71 3.19% -4,955.39
contract
Foreign exchange forwards 1 January 2019 30 September 2019 23 0.01% 376.1
Total -- -- 7,555.71 3.20% -4,579.29
Funding source Self-funded
Legal matters involved (if
N/A
applicable)
Disclosure date of board 21 February 2019
announcement approving
30 March 2019
derivative investment (if any)
Disclosure date of general 9 March 2019
meeting announcement
approving derivative 20 April 2019
investment (if any)
The Company’s conduction of hedging business is not aimed at speculation, but mainly to
Analysis of risks and control effectively avoid the impact of raw material price fluctuation on the Company. However, there will
measures associated with be certain risks: 1. Price fluctuation risk: price fluctuation risk may be generated when the futures
derivative investments held in market changes greatly, resulting in transaction losses; 2. Capital risk: capital risk may be
Reporting Period (including correspondingly brought because the futures trading adopts margin and marking-to-market system;
but not limited to market risk, 3. Internal control risk: there may be risks due to imperfect internal control system for the high
liquidity risk, credit risk, expertise and complexity of futures trading; 4. Technical risk: there may be technical risks due to
operational risk, legal risk, incomplete computer systems. The Company adopts following risk control measures: 1. Matching
etc.) the hedging business with the Company’s production and operation so as to maximally reduce the
price fluctuation risk; 2. The Company will reasonably dispatch its own funds for hedging business,
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Hainan Jingliang Holdings Co., Ltd. Third Quarter Report 2019
strictly control the hedging fund scale and reasonably plan and use margins; 3. Management System
of Commodity Futures Trading is formulated at the Company and subsidiaries levels respectively
based on actual situation of the Company and pursuant to governing stipulations of Guidelines for
Standard Operation of Companies Listed in Shenzhen Stock Exchange which have made clearly
stipulations about the amount, variety scope, approval authority, internal approval procedures,
responsible departments and persons, information isolation measures, internal risk report and related
solution process, information disclosure, etc. regarding hedging business. The Company will strictly
control all sectors in accordance with the management system formulated; 4. Establishing qualified
systems for transaction, communication and information services so as to guarantee the normal
operation of the transaction system and smooth proceeding of transactions. When a wrong order
occurs, corresponding measures should be timely taken to reduce losses.
Changes in market prices or
fair value of derivative
investments in Reporting The value of the Company’s future contracts changed according to the contract prices declared by
Period (fair value analysis the future exchange, which were broadly representative. And the fair value of the Company’s future
should include measurement contracts was executed in strict compliance with the future exchange’s settlement methods.
method and related
assumptions and parameters)
Major changes in accounting
policies and specific
accounting principles adopted
N/A
for derivative investments in
Reporting Period compared to
last reporting period
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.
Opinion of independent Based on normal production and operation, the Company uses foreign exchange derivatives
directors on derivative instruments to reduce exchange rate risks and finance costs, and control business risks. There is no
investments and risk control harm to the interests of the Company and all other shareholders, especially minority shareholders. It
is agreed that the Company and its majority-owned subsidiaries will conduct foreign exchange
derivative trading business within the consideration amount, and submit to the general meeting for
deliberation.
VII Visits Paid to the Company for Purposes of Research, Communication, Interview, etc.
during Reporting Period
□ Applicable √ Not applicable
No such cases in the Reporting Period.
12
Hainan Jingliang Holdings Co., Ltd. Third Quarter Report 2019
VIII Irregularities in Provision of Guarantees for External Parties
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IX Occupation of the Company’s Capital by Controlling Shareholder or Its Related Parties
for Non-Operating Purposes
□ Applicable √ Not applicable
No such cases in the Reporting Period.
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Hainan Jingliang Holdings Co., Ltd. Third Quarter Report 2019
Part IV Financial Statements
I Financial Statements
1. Consolidated Balance Sheet
Prepared by Hainan Jingliang Holdings Co., Ltd.
30 September 2019
Unit: RMB
Item 30 September 2019 31 December 2018
Current assets:
Monetary capital 495,666,232.11 924,870,016.78
Settlement reserve
Interbank loans granted
Trading financial assets
Financial assets at fair value through
profit or loss
Derivative financial assets 49,872,120.50 71,260,414.60
Notes receivable
Accounts receivable 95,540,151.58 97,775,710.11
Accounts receivable financing
Prepayments 430,689,409.61 120,181,442.89
Premiums receivable
Reinsurance receivables
Receivable reinsurance contract
reserve
Other receivables 65,460,014.32 18,256,513.93
Including: Interests receivable 483,694.45 2,400,877.51
Dividends receivable
Financial assets purchased under
resale agreements
Inventories 992,709,551.35 1,224,186,963.07
Contractual assets
Assets classified as held for sale
Current portion of non-current assets
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Hainan Jingliang Holdings Co., Ltd. Third Quarter Report 2019
Other current assets 836,609,741.86 288,821,816.63
Total current assets 2,966,547,221.33 2,745,352,878.01
Non-current assets:
Loans and advances to customers
Investments in debt obligations
Available-for-sale financial assets 20,000,000.00
Investments in other debt obligations
Held-to-maturity investments
Long-term receivables
Long-term equity investments 187,325,274.16 182,827,226.11
Investments in other equity
20,000,000.00
instruments
Other non-current financial assets
Investment property 32,184,788.51 33,395,101.68
Fixed assets 1,241,030,763.35 1,271,803,080.56
Construction in progress 27,249,683.31 37,369,757.78
Productive living assets
Oil and gas assets
Right-of-use assets
Intangible assets 373,516,890.08 383,382,527.68
R&D expense
Goodwill 191,394,422.51 191,394,422.51
Long-term prepaid expense 23,950,504.42 34,671,018.22
Deferred income tax assets 13,978,993.45 15,330,980.14
Other non-current assets 55,000,000.00 1,622,003.59
Total non-current assets 2,165,631,319.79 2,171,796,118.27
Total assets 5,132,178,541.12 4,917,148,996.28
Current liabilities:
Short-term borrowings 1,139,402,578.70 1,437,715,080.91
Borrowings from central bank
Interbank loans obtained
Trading financial liabilities
Financial liabilities at fair value
through profit or loss
Derivative financial liabilities
15
Hainan Jingliang Holdings Co., Ltd. Third Quarter Report 2019
Notes payable
Accounts payable 336,251,875.67 140,564,713.11
Advances from customers 324,648,928.69 145,317,064.18
Contractual liabilities
Financial assets sold under
repurchase agreements
Customer deposits and interbank
deposits
Payables for acting trading of
securities
Payables for underwriting of
securities
Payroll payable 11,003,826.95 31,494,568.05
Taxes payable 38,933,903.00 35,783,819.84
Other payables 165,377,948.13 111,288,708.99
Including: Interest payable 25,010,702.02 26,972,826.90
Dividends payable 11,013,302.88 11,197,317.01
Handling charges and commissions
payable
Reinsurance payable
Liabilities directly associated with
assets classified as held for sale
Current portion of non-current
liabilities
Other current liabilities 11,100,915.25
Total current liabilities 2,015,619,061.14 1,913,264,870.33
Non-current liabilities:
Insurance contract reserve
Long-term borrowings
Bonds payable
Including: Preferred shares
Perpetual bonds
Lease liabilities
Long-term payables
Long-term payroll payable 40,245,406.52 40,245,406.52
Provisions
16
Hainan Jingliang Holdings Co., Ltd. Third Quarter Report 2019
Deferred income 73,743,596.30 74,953,385.51
Deferred income tax liabilities 65,140,818.53 49,618,839.47
Other non-current liabilities
Total non-current liabilities 179,129,821.35 164,817,631.50
Total liabilities 2,194,748,882.49 2,078,082,501.83
Owners’ equity:
Share capital 685,790,364.00 685,790,364.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserves 1,595,711,805.31 1,595,711,805.31
Less: Treasury stock
Other comprehensive income 241,670.59 438.33
Special reserves
Surplus reserves 122,122,436.98 122,122,436.98
General reserve
Retained earnings -45,803,246.98 -131,155,119.19
Total equity attributable to owners of
2,358,063,029.90 2,272,469,925.43
the Company as the parent
Non-controlling interests 579,366,628.73 566,596,569.02
Total owners’ equity 2,937,429,658.63 2,839,066,494.45
Total liabilities and owners’ equity 5,132,178,541.12 4,917,148,996.28
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 30 September 2019 31 December 2018
Current assets:
Monetary capital 3,806,520.59 13,597,659.66
Trading financial assets
Financial assets at fair value through
profit or loss
Derivative financial assets
17
Hainan Jingliang Holdings Co., Ltd. Third Quarter Report 2019
Notes receivable
Accounts receivable 74,460.00 79,986.00
Accounts receivable financing
Prepayments 19,000.00 20,000.00
Other receivables 31,789,102.45 227,353.10
Including: Interest receivable
Dividends receivable
Inventories 4,824,035.45 4,824,035.45
Contractual assets
Assets classified as held for sale
Current portion of non-current assets
Other current assets 2,234,896.21 1,962,371.32
Total current assets 42,748,014.70 20,711,405.53
Non-current assets:
Investments in debt obligations
Available-for-sale financial assets 20,000,000.00
Investments in other debt obligations
Held-to-maturity investments
Long-term receivables
Long-term equity investments 2,377,420,527.10 2,375,639,964.05
Investments in other equity
20,000,000.00
instruments
Other non-current financial assets
Investment property 5,551,966.88 5,778,794.33
Fixed assets 3,232,789.18 3,260,620.04
Construction in progress
Productive living assets
Oil and gas assets
Right-of-use assets
Intangible assets 94,088.04 171,069.18
R&D expense
Goodwill
Long-term prepaid expense 110,062.84 180,817.60
Deferred income tax assets
18
Hainan Jingliang Holdings Co., Ltd. Third Quarter Report 2019
Other non-current assets
Total non-current assets 2,406,409,434.04 2,405,031,265.20
Total assets 2,449,157,448.74 2,425,742,670.73
Current liabilities:
Short-term borrowings
Trading financial liabilities
Financial liabilities at fair value
through profit or loss
Derivative financial liabilities
Notes payable
Accounts payable
Advances from customers 38,896.41 38,896.41
Contractual liabilities
Payroll payable 376,482.76 438,195.96
Taxes payable 992,416.59 976,458.68
Other payables 509,692,210.91 449,947,050.56
Including: Interest payable 21,082,795.47 21,082,795.47
Dividends payable 3,213,302.88 3,213,302.88
Liabilities directly associated with
assets classified as held for sale
Current portion of non-current
liabilities
Other current liabilities
Total current liabilities 511,100,006.67 451,400,601.61
Non-current liabilities:
Long-term borrowings
Bonds payable
Including: Preferred shares
Perpetual bonds
Lease liabilities
Long-term payables
Long-term payroll payable
Provisions
Deferred income
Deferred income tax liabilities
19
Hainan Jingliang Holdings Co., Ltd. Third Quarter Report 2019
Other non-current liabilities
Total non-current liabilities
Total liabilities 511,100,006.67 451,400,601.61
Owners’ equity:
Share capital 685,790,364.00 685,790,364.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserves 2,173,387,468.71 2,173,387,468.71
Less: Treasury stock
Other comprehensive income
Special reserves
Surplus reserves 109,487,064.39 109,487,064.39
Retained earnings -1,030,607,455.03 -994,322,827.98
Total owners’ equity 1,938,057,442.07 1,974,342,069.12
Total liabilities and owners’ equity 2,449,157,448.74 2,425,742,670.73
3. Consolidated Income Statement for Q3
Unit: RMB
Item Q3 2019 Q3 2018
1. Revenue 1,824,886,529.92 1,899,805,985.97
Including: Operating revenue 1,824,886,529.92 1,899,805,985.97
Interest income
Premium income
Handling charge and
commission income
2. Costs and expenses 1,764,674,515.46 1,806,906,735.47
Including: Cost of sales 1,652,610,736.57 1,703,299,548.14
Interest expense
Handling charge and
commission expense
Surrenders
Net claims paid
Net amount provided as
policy reserve
20
Hainan Jingliang Holdings Co., Ltd. Third Quarter Report 2019
Expenditure on policy
dividends
Reinsurance premium
expense
Taxes and surcharges 5,490,323.70 4,706,132.09
Selling expense 50,699,252.02 48,195,311.31
Administrative expense 47,487,578.68 52,378,722.27
R&D expense 703,632.42 349,299.58
Finance costs 7,682,992.07 -2,022,277.92
Including: Interest
29,919,400.39 28,498,954.62
expense
Interest
22,365,123.69 12,702,511.85
income
Add: Other income 1,908,875.68 3,420,131.60
Return on investment (“-” for
1,089,429.46 5,574,816.04
loss)
Including: Share of profit or
loss of joint ventures and associates
Derecognition income of financial
assets measured at amortized cost
Foreign exchange gain (“-” for
loss)
Net gain on exposure hedges (“-”
for loss)
Gain on changes in fair value (“-”
-512,728.81 -36,001,451.60
for loss)
Credit impairment loss (“-” for
loss)
Assets impairment loss (“-” for
1,193.30 -203,532.58
loss)
Asset disposal income (“-” for
-733,109.31 -1,607,843.98
loss)
3. Operating profit (“-” for loss) 61,965,674.78 64,081,369.98
Add: Non-operating income 539,843.22 983,957.85
Less: Non-operating expense 1,127,254.62 276,289.34
4. Profit before tax (“-” for loss) 61,378,263.38 64,789,038.49
Less: Income tax expense 15,853,529.76 9,498,223.59
5. Net profit (“-” for net loss) 45,524,733.62 55,290,814.90
21
Hainan Jingliang Holdings Co., Ltd. Third Quarter Report 2019
5.1 By operating continuity
5.1.1 Net profit from continuing
45,524,733.62 55,290,814.90
operations (“-” for net loss)
5.1.2 Net profit from discontinued
operations (“-” for net loss)
5.2 By ownership
5.2.1 Net profit attributable to
33,840,967.80 42,345,394.93
owners of the Company as the parent
5.2.2 Net profit attributable to
11,683,765.82 12,945,419.97
non-controlling interests
6. Other comprehensive income, net of
190,287.74 264,437.23
tax
Attributable to owners of the Company
190,287.74 264,437.23
as the parent
6.1 Items that will not be
reclassified to profit or loss
6.1.1 Changes caused by
remeasurements on defined benefit
pension 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 of
the company’s credit risks
6.1.5 Other
6.2 Items that will be reclassified to
190,287.74 264,437.23
profit or loss
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 Gain/Loss on changes in the
fair value of available-for-sale financial
assets
6.2.4 Other comprehensive
income arising from the reclassification
of financial assets
6.2.5 Gain/Loss arising from the
reclassification of held-to-maturity
22
Hainan Jingliang Holdings Co., Ltd. Third Quarter Report 2019
investments to available-for-sale financial
assets
6.2.6 Allowance for credit
impairments in investments in other debt
obligations
6.2.7 Reserve for cash flow
hedges
6.2.8 Differences arising from the
translation of foreign
190,287.74 264,437.23
currency-denominated financial
statements
6.2.9 Other
Attributable to non-controlling
interests
7. Total comprehensive income 45,715,021.36 55,555,252.13
Attributable to owners of the Company
34,031,255.54 42,609,832.16
as the parent
Attributable to non-controlling
11,683,765.82 12,945,419.97
interests
8. Earnings per share
8.1 Basic earnings per share 0.05 0.06
8.2 Diluted earnings per share 0.05 0.06
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 for Q3
Unit: RMB
Item Q3 2019 Q3 2018
1. Operating revenue 0.00 0.00
Less: Cost of sales 0.00 75,609.15
Taxes and surcharges 33,908.40 32,242.73
Selling expense
Administrative expense 10,567,161.77 8,498,118.65
R&D expense
Finance costs 4,064,326.05 3,587,578.96
23
Hainan Jingliang Holdings Co., Ltd. Third Quarter Report 2019
Including: Interest expense 4,067,234.62 3,588,242.50
Interest income 3,054.57 2,774.94
Add: Other income
Return on investment (“-” for
loss)
Including: Share of profit or
loss of joint ventures and associates
Derecognition income of
financial assets measured at amortized
cost
Net gain on exposure hedges (“-”
for loss)
Gain on changes in fair value (“-”
for loss)
Credit impairment loss (“-” for
loss)
Assets impairment loss (“-” for
0.00 -580.00
loss)
Asset disposal income (“-” for
loss)
2. Operating profit (“-” for loss) -14,665,396.22 -12,194,129.49
Add: Non-operating income
Less: Non-operating expense
3. Profit before tax (“-” for loss) -14,665,396.22 -12,194,129.49
Less: Income tax expense
4. Net profit (“-” for net loss) -14,665,396.22 -12,194,129.49
4.1 Net profit from continuing
-14,665,396.22
operations (“-” for net loss)
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
24
Hainan Jingliang Holdings Co., Ltd. Third Quarter Report 2019
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 Gain/Loss on changes in the
fair value of available-for-sale financial
assets
5.2.4 Other comprehensive income
arising from the reclassification of
financial assets
5.2.5 Gain/Loss arising from the
reclassification of held-to-maturity
investments to available-for-sale
financial assets
5.2.6 Allowance for credit
impairments in investments in other
debt obligations
5.2.7 Reserve for cash flow hedges
5.2.8 Differences arising from the
translation of foreign
currency-denominated financial
statements
5.2.9 Other
6. Total comprehensive income -14,665,396.22 -12,194,129.49
7. Earnings per share
7.1 Basic earnings per share
7.2 Diluted earnings per share
5. Consolidated Income Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2019 Q1~Q3 2018
25
Hainan Jingliang Holdings Co., Ltd. Third Quarter Report 2019
1. Revenue 5,108,164,255.31 5,539,431,965.38
Including: Operating revenue 5,108,164,255.31 5,539,431,965.38
Interest income
Premium income
Handling charge and
commission income
2. Operating costs and expenses 5,018,488,742.07 5,367,776,105.45
Including: Cost of sales 4,693,289,477.71 5,038,627,672.46
Interest expense
Handling charge and
commission expense
Surrenders
Net claims paid
Net amount provided as
policy reserve
Expenditure on policy
dividends
Reinsurance premium
expense
Taxes and surcharges 17,090,887.34 19,018,278.45
Selling expense 151,930,390.29 139,821,320.67
Administrative expense 128,785,807.05 135,753,834.87
R&D expense 1,234,698.42 1,072,960.08
Finance costs 26,157,481.26 33,482,038.92
Including: Interest
52,900,693.46 80,549,317.31
expense
Interest
26,485,752.27 28,499,809.74
income
Add: Other income 11,779,973.90 8,937,425.37
Investment income (“-” for loss) 10,268,731.55 16,487,429.06
Including: Share of profit or loss
of joint ventures and associates
Derecognition income of
financial assets measured at amortized
cost
Foreign exchange gain (“-” for
loss)
Net gain on exposure hedges (“-”
26
Hainan Jingliang Holdings Co., Ltd. Third Quarter Report 2019
for loss)
Gain on changes in fair value (“-”
25,645,552.41 -22,110,484.16
for loss)
Credit impairment loss (“-” for
loss)
Assets impairment loss (“-” for
-196,502.26 278,887.16
loss)
Asset disposal income (“-” for
11,264,409.09 -1,796,072.16
loss)
3. Operating profit (“-” for loss) 148,437,677.93 173,453,045.20
Add: Non-operating income 2,256,286.81 10,781,378.60
Less: Non-operating expense 1,949,673.24 9,896,461.65
4. Profit before tax (“-” for loss) 148,744,291.50 174,337,962.15
Less: Income tax expense 37,975,305.88 44,488,495.00
5. Net profit (“-” for net loss) 110,768,985.62 129,849,467.15
5.1 By operating continuity (“-” for net
loss)
5.1.1 Net profit from continuing
110,768,985.62 129,849,467.15
operations (“-” for net loss)
5.1.2 Net profit from discontinued
operations (“-” for net loss)
5.2 By ownership
5.2.1 Net profit attributable to
85,351,872.21 102,264,390.61
owners of the Company as the parent
5.2 2. Net profit attributable to
25,417,113.41 27,585,076.54
non-controlling interests
6. Other comprehensive income, net of
241,232.26 449,844.98
tax
Attributable to owners of the Company
241,232.26 449,844.98
as the parent
6.1 Items that will not be
reclassified to profit or loss
6.1.1 Changes in net liabilities or
assets caused by remeasurements on
defined benefit pension schemes
6.1.2 Share of other
comprehensive income of investees that
will not be reclassified to profit or loss
under equity method
27
Hainan Jingliang Holdings Co., Ltd. Third Quarter Report 2019
6.1.3 Changes in the fair value of
investments in other equity instruments
6.1.4 Changes in the fair value of
the company’s credit risks
6.1.5 Other
6.2 Items that may subsequently be
241,232.26 449,844.98
reclassified to profit or loss
6.2.1 Share of other
comprehensive income of investees that
will be reclassified to profit or loss under
equity method
6.2.2 Changes in the fair value of
investments in other debt obligations
6.2.3 Gain/Loss on changes in fair
value of available-for-sale financial
assets
6.2.4. Other comprehensive
income arising from the reclassification
of financial assets
6.2.5 Gain/Loss arising from
reclassification of held-to-maturity
investments to available-for-sale financial
assets
6.2.6 Allowance for credit
impairments in investments in other debt
obligations
6.2.7 Reserve for cash flow
hedges
6.2.8 Differences arising from
translation of foreign
241,232.26 449,844.98
currency-denominated financial
statements
6.2.9 Other
Attributable to non-controlling
interests
7. Total comprehensive income 111,010,217.88 130,299,312.13
Attributable to owners of the Company
85,593,104.47 102,714,235.59
as the parent
Attributable to non-controlling
25,417,113.41 27,585,076.54
interests
8. Earnings per share
28
Hainan Jingliang Holdings Co., Ltd. Third Quarter Report 2019
8.1 Basic earnings per share 0.12 0.15
8.2 Diluted earnings per share 0.12 0.15
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
6. Income Statement of the Company as the Parent for Q1~Q3
Unit: RMB
Item Q1~Q3 2019 Q1~Q3 2018
1. Operating revenue 0.00 0.00
Less: Cost of sales 0.00 226,827.45
Taxes and surcharges 102,985.20 1,046,593.89
Selling expense
Administrative expense 24,078,567.37 14,511,777.95
R&D expense
Finance costs 11,629,290.32 9,982,985.70
Including: Interest expense 11,638,818.11 10,929,291.28
Interest income 14,138.40 954,302.98
Add: Other income
Investment income (“-” for loss)
Including: Share of profit or
loss of joint ventures and associates
Derecognition income of
financial assets measured at amortized
cost
Net gain on exposure hedges
(“-” for loss)
Gain on changes in fair value
(“-” for loss)
Credit impairment loss (“-” for
loss)
Assets impairment loss (“-” for
-4,344.16 98,668.41
loss)
Asset disposal income (“-” for
29
Hainan Jingliang Holdings Co., Ltd. Third Quarter Report 2019
loss)
2. Operating profit (“-” for loss) -35,815,187.05 -25,669,516.58
Add: Non-operating income
Less: Non-operating expense 469,440.00 100.00
3. Profit before tax (“-” for loss) -36,284,627.05 -25,669,616.58
Less: Income tax expense
4. Net profit (“-” for net loss) -36,284,627.05 -25,669,616.58
4.1 Net profit from continuing
-36,284,627.05
operations (“-” for net loss)
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 in net liabilities or
assets caused by remeasurements on
defined benefit pension schemes
5.1.2 Share of other
comprehensive income of investees that
will not be reclassified to profit or loss
under equity method
5.1.3 Changes in the fair value of
investments in other debt obligations
5.1.4 Changes in the fair value of
the company’s credit risks
5.1.5 Other
5.2 Items that may subsequently be
reclassified to profit or loss
5.2.1 Share of other
comprehensive income of investees that
will be reclassified to profit or loss
under equity method
5.2.2 Changes in the fair value of
investments in other debt obligations
5.2.3 Gain/Loss on changes in fair
value of available-for-sale financial
assets
5.2.4 Other comprehensive income
arising from the reclassification of
30
Hainan Jingliang Holdings Co., Ltd. Third Quarter Report 2019
financial assets
5.2.5 Gain/Loss arising from
reclassification of held-to-maturity
investments to available-for-sale
financial assets
5.2.6 Allowance for credit
impairments in investments in other
debt obligations
5.2.7 Reserve for cash flow hedges
5.2.8 Differences arising from
translation of foreign
currency-denominated financial
statements
5.2.9 Other
6. Total comprehensive income -36,284,627.05 -25,669,616.58
7. Earnings per share
7.1 Basic earnings per share
7.2 Diluted earnings per share
7. Consolidated Cash Flow Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2019 Q1~Q3 2018
1. Cash flows from operating activities:
Proceeds from sale of commodities
5,561,175,595.39 6,089,990,408.11
and rendering of services
Net increase in customer deposits and
interbank deposits
Net increase in borrowings from
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
31
Hainan Jingliang Holdings Co., Ltd. Third Quarter Report 2019
obtained
Net increase in proceeds from
repurchase transactions
Net proceeds from acting trading of
securities
Tax rebates 8,511,133.41 11,907,624.39
Cash generated from other operating
1,018,233,943.12 1,766,762,056.68
activities
Subtotal of cash generated from
6,587,920,671.92 7,868,660,089.18
operating activities
Payments for commodities and
4,955,576,528.87 5,488,803,432.64
services
Net increase in loans and advances to
customers
Net increase in deposits in 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 225,542,724.31 215,823,143.63
Taxes paid 113,872,002.20 149,429,869.38
Cash used in other operating
846,183,684.46 1,595,019,949.04
activities
Subtotal of cash used in operating
6,141,174,939.84 7,449,076,394.69
activities
Net cash generated from/used in
446,745,732.08 419,583,694.49
operating activities
2. Cash flows from investing activities:
Proceeds from disinvestment 1,451,236,691.57 1,647,338,090.45
Return on investment 24,608,980.29 22,660,696.79
Net proceeds from the disposal of
fixed assets, intangible assets and other 69,211.68 624,362.84
long-lived assets
Net proceeds from the disposal of
subsidiaries and other business units
Cash generated from other investing
94,375,000.00
activities
32
Hainan Jingliang Holdings Co., Ltd. Third Quarter Report 2019
Subtotal of cash generated from
1,475,914,883.54 1,764,998,150.08
investing activities
Payments for the acquisition of fixed
assets, intangible assets and other 41,645,608.65 44,298,838.25
long-lived assets
Payments for investments 1,921,580,563.05 1,944,330,000.00
Net increase in pledged loans granted
Net payments for the acquisition of
47,954,985.00
subsidiaries and other business units
Cash used in other investing
752.21 289,112,694.38
activities
Subtotal of cash used in investing
1,963,226,923.91 2,325,696,517.63
activities
Net cash generated from/used in
-487,312,040.37 -560,698,367.55
investing activities
3. Cash flows from financing activities:
Capital contributions received 126,553,500.00
Including: Capital contributions by
non-controlling interests to subsidiaries
Borrowings obtained 1,633,175,871.20 1,705,500,818.73
Cash generated from other financing
4,857,675,313.61
activities
Subtotal of cash generated from
1,633,175,871.20 6,689,729,632.34
financing activities
Repayments of borrowings 1,929,842,758.45 1,917,644,873.55
Payments for interest and dividends 75,821,378.17 98,022,459.14
Including: Dividends paid by
subsidiaries to non-controlling interests
Cash used in other financing
4,891,136,552.93
activities
Subtotal of cash used in financing
2,005,664,136.62 6,906,803,885.62
activities
Net cash generated from/used in
-372,488,265.42 -217,074,253.28
financing activities
4. Effect of foreign exchange rate
3,782,563.49 19,414,338.66
changes on cash and cash equivalents
5. Net increase in cash and cash
-409,272,010.22 -338,774,587.68
equivalents
Add: Cash and cash equivalents,
867,870,016.78 1,014,438,663.43
beginning of the period
6. Cash and cash equivalents, end of the
458,598,006.56 675,664,075.75
period
33
Hainan Jingliang Holdings Co., Ltd. Third Quarter Report 2019
8. Cash Flow Statement of the Company as the Parent for Q1~Q3
Unit: RMB
Item Q1~Q3 2019 Q1~Q3 2018
1. Cash flows from operating activities:
Proceeds from sale of commodities
and rendering of services
Tax rebates 1,800.00 750.00
Cash generated from other operating
33,566,371.69 58,581,113.47
activities
Subtotal of cash generated from
33,568,171.69 58,581,863.47
operating activities
Payments for commodities and
25,453.09 87,700.45
services
Cash paid to and for employees 17,908,969.70 12,261,894.85
Taxes paid 105,317.14 5,670,439.48
Cash used in other operating
52,051,442.98 57,497,384.43
activities
Subtotal of cash used in operating
70,091,182.91 75,517,419.21
activities
Net cash generated from/used in
-36,523,011.22 -16,935,555.74
operating activities
2. Cash flows from investing activities:
Proceeds from disinvestment
Return on investment
Net proceeds from the disposal of
fixed assets, intangible assets and other -34,427.35
long-lived assets
Net proceeds from the disposal of
subsidiaries and other business units
Cash generated from other investing
activities
Subtotal of cash generated from
0.00 -34,427.35
investing activities
Payments for the acquisition of fixed
assets, intangible assets and other 187,564.80 214,550.26
long-lived assets
Payments for investments 1,780,563.05 39,000,000.00
Net payments for the acquisition of
subsidiaries and other business units
Cash used in other investing
34
Hainan Jingliang Holdings Co., Ltd. Third Quarter Report 2019
activities
Subtotal of cash used in investing
1,968,127.85 39,214,550.26
activities
Net cash generated from/used in
-1,968,127.85 -39,248,977.61
investing activities
3. Cash flows from financing activities:
Capital contributions received
Borrowings obtained 28,700,000.00 75,900,000.00
Cash generated from other financing
activities
Subtotal of cash generated from
28,700,000.00 75,900,000.00
financing activities
Repayments of borrowings 16,000,000.00
Payments for interest and dividends 3,649,220.00
Cash used in other financing
activities
Subtotal of cash used in financing
0.00 19,649,220.00
activities
Net cash generated from/used in
28,700,000.00 56,250,780.00
financing activities
4. Effect of foreign exchange rate
changes on cash and cash equivalents
5. Net increase in cash and cash
-9,791,139.07 66,246.65
equivalents
Add: Cash and cash equivalents,
13,597,659.66 15,360,177.32
beginning of the period
6. Cash and cash equivalents, end of the
3,806,520.59 15,426,423.97
period
II Adjustments to the Financial Statements
1. Adjustments to the Financial Statements at the Beginning of the Execution of any New Standards
Governing Financial Instruments, Revenue or Leases from 2019
□ Applicable √ Not applicable
2. Retrospective Restatement of Previous Comparative Data due to the Execution of any New Standards
Governing Financial Instruments or Leases from 2019
□ Applicable √ Not applicable
35
Hainan Jingliang Holdings Co., Ltd. Third Quarter Report 2019
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.
19 October 2019
36
