Ticker: 002242 Stock Abbreviation:
Joyoung
Joyoung Co., Ltd.
Abstract of Interim Report of the First Quarter 2021
Joyoung Co., Ltd. Abstract of Interim Report of the First Quarter 2021
Section I Important Statements
The Board of Directors, the Supervisory Committee as well as all the directors,
supervisors and senior management staff of Joyoung Co., Ltd. (hereinafter referred to
as the “Company”) have guaranteed that this Report contains no false record,
misleading statement or material omission and shall be jointly and severally liable for
the factuality, accuracy and completeness of the information given in this Report.
All directors attended the board meeting that reviewed this Report.
Ningning YANG, CEO of the company; Jiantiao QIU, CFO of the company, and Wen
GUO, Chief Accountant of Accounting Institution, declared that the quarterly financial
statements should be true, accurate and complete.
In the event of any discrepancy between the abstract and the full document of the
Report, the complete version in Chinese shall prevail.
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Joyoung Co., Ltd. Abstract of Interim Report of the First Quarter 2021
Section II Company Profile
1. Key Accounting Data and Financial Indicators
Whether the Company performed a retroactive adjustment to or restatement of accounting data
□ Yes √ No
From 1 January 2021 From 1 January 2020 to
YoY change
to 31 March 2021 31 March 2020
Operating revenue (RMB) 2,242,694,899.52 1,702,037,045.29 31.77%
Net Profit attributable to shareholders of the Company (RMB) 180,103,795.09 146,873,325.81 22.63%
Net profit attributable to shareholders of the Company before
161,576,890.20 143,533,461.10 12.57%
non-recurring gains and losses (RMB)
Net cash flows from operating activities (RMB) -179,932,954.23 143,106,492.72 -225.73%
Basic earnings per share (RMB / share) 0.24 0.19 26.32%
Diluted earnings per share (RMB / share) 0.23 0.19 21.05%
Increased by 0.28
Weighted average return on net assets 4.12% 3.84%
percentage point
31 March 2021 31 December 2020 Flux
Total assets (RMB) 8,621,160,146.97 9,134,826,691.51 -5.62%
Net assets attributable to shareholders of the Company
4,465,160,802.75 4,283,761,519.10 4.23%
(RMB)
Non-recurring gain and loss items and amounts thereof
Unit: RMB
From 1 January 2021
Item Note
to 31 March 2021
Profit or loss from disposal of non-current assets (including the write off of the provision for impairment
108,899.57
of assets)
Government grants included in the current profit or loss (that is closely related to the operations of the
5,076,094.43
Company, except for those of fixed quotas or amounts according to the nationally unified standards)
Gains or losses from changes in fair value arising from the holding of trading financial assets,
derivative financial assets, trading financial liabilities and derivative financial liabilities and investment
income from the disposal of trading financial assets, derivative financial assets, trading financial 19,838,743.14
liabilities, derivative financial liabilities and other debt investments, excluding the effective hedging
business related to the Company’s normal business operations
Other non-operating income or expenses except the above items -1,291,305.36
Less: Impact of income taxes 5,042,204.03
Impact of minority interests (after tax) 163,322.86
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Joyoung Co., Ltd. Abstract of Interim Report of the First Quarter 2021
Total 18,526,904.89 --
For non-recurring profit or loss items defined by the Company according to the definitions under the Interpretative Announcement on
Information Disclosure of Companies Offering Securities to the Public No. 1 — Non-recurring Profit or Loss and the non-recurring profit
or loss items listed in the Interpretative Announcement on Information Disclosure of Companies Offering Securities to the Public No. 1 —
Non-recurring Profit or Loss that have been defined as recurring profit or loss items by the Company, please provide the reasons
□ Applicable √ Not applicable
2. Total number of shareholders and shareholdings of the top ten shareholders at the period-end
2.1 Total number of common shareholders and shareholdings of the top ten common shareholders at the period-end
Unit: share
Total number of common shareholders at Total number of preferred shareholders with resumed voting
29,452 0
the end of the Reporting Period rights at the end of the Reporting Period (if any)
Top 10 common shareholders
Total shares Number of Pledged or frozen shares
Nature of Shareholding
Name of shareholder held at the restricted
shareholder percentage Status Number
period-end shares held
Domestic
Shanghai Lihong Enterprise Management Limited non-state-owne 50.12% 384,523,746 Pledged 307,618,897
d corporation
Foreign
BILTING DEVELOPMENTS LIMITED 16.94% 129,924,090
corporation
Foreign
Hong Kong Securities Clearing Co., Ltd. 8.62% 66,147,139
corporation
State-owned
Central Huijin Investment Ltd. 4.99% 38,310,500
corporation
E Fund Management Co., Ltd. - Social Insurance
Others 1.43% 11,000,114
Fund Portfolio No.1104
Agricultural Bank of China Co., Ltd. - E Fund
Others 1.25% 9,619,185
Consumer Industry Securities Investment Fund
Bank of China Co., Ltd. - Dacheng Preferred Hybrid
Others 0.73% 5,613,851
Securities Investment Fund (LOF)
Basic Pension Insurance Fund Portfolio No. 1001 Others 0.51% 3,897,821
National Social Security Fund Portfolio No. 101 Others 0.29% 2,228,692
PICC Property and Casualty Company Limited -
Others 0.29% 2,189,905
Traditional - General Insurance Products
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Joyoung Co., Ltd. Abstract of Interim Report of the First Quarter 2021
Top 10 non-restricted common shareholders
Number of Type of shares
Name of shareholder non-restricted
Type of shares Number
shares held
Shanghai Lihong Enterprise Management Limited 384,523,746 RMB common stock 384,523,746
BILTING DEVELOPMENTS LIMITED 129,924,090 RMB common stock 129,924,090
Hong Kong Securities Clearing Co., Ltd. 66,147,139 RMB common stock 66,147,139
Central Huijin Investment Ltd. 38,310,500 RMB common stock 38,310,500
E Fund Management Co., Ltd. - Social Insurance Fund Portfolio No. 1104 11,000,114 RMB common stock 11,000,114
Agricultural Bank of China Co., Ltd. - E Fund Consumer Industry Securities Investment Fund 9,619,185 RMB common stock 9,619,185
Bank of China Co., Ltd. - Dacheng Preferred Hybrid Securities Investment Fund (LOF) 5,613,851 RMB common stock 5,613,851
Basic Pension Insurance Fund Portfolio No. 1001 3,897,821 RMB common stock 3,897,821
National Social Security Fund Portfolio No. 101 2,228,692 RMB common stock 2,228,692
PICC Property and Casualty Company Limited - Traditional - General Insurance Products 2,189,905 RMB common stock 2,189,905
In April 2019, the shareholding structure of Builting Developments Limited
changed. MR. Xuning WANG, the controlling shareholder of the Company,
became the controlling shareholder of Builting Developments Limited (See Report
No. 2019-027 of the Company on www.chinainfo.com.cn.). As a result, Shanghai
Lihong Enterprise Management Co., Ltd. and Builting Developments Limited, both
Related or acting-in-concert parties among shareholders above
controlled by Mr. Xuning WANG, are defined as acting-in-concert parties by the
Administrative Measures for the Takeover of Listed Companies.
Other than the aforementioned related and acting-in-concert parties, the Company
is uncertain about whether there are related or acting-in-concert parties among
shareholders above.
Explanation on the top 10 common shareholders participating in
N/A
securities margin trading (if any)
The company's top 10 common shareholders and the top 10 common shareholders with unrestricted in terms of sale hadn’t engage in
the agreed repurchase transactions during the reporting period.
□ Yes √ No
2.2 Total Number of Preferred Shareholders and TOP 10 Preferred Shareholders and Their Shareholdings
□ Applicable √ Not applicable
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Joyoung Co., Ltd. Abstract of Interim Report of the First Quarter 2021
Section III Significant Events
1. Major Changes of Main Items in Financial Statements and Financial Indicators within the Report
Period, as well as the Reasons for the Changes
Item 31 March 2021 31 December Flux Notes
2020
Accounts receivable 522,763,903.50 212,481,359.50 146.03% Mainly due to the increase of product sales in the reporting period
Receivables financing 333,370,502.19 758,694,902.66 -56.06% Mainly due to the endorsement of notes receivable in the period-end
Advances to suppliers 88,690,682.37 16,243,257.44 446.02% Mainly due to prepayments to suppliers to secure the price of materials in
the reporting period
Construction in progress 23,338,512.88 11,012,005.02 111.94% Mainly due to the expansion of plant
Right-of-use assets 29,957,802.04 100.00% Mainly due to the recognition of right-of-use assets and lease liabilities
Lease liability 26,264,669.73 100.00% etc. in the current period as a result of the implementation of the new
Current portion of non-current 5,811,628.54 100.00% leasing standards
liabilities
Notes payable 2,392,728,071.83 1,227,524,091.85 94.92% Mainly due to the increase of notes payable issued in the reporting period
Accounts payable 1,031,043,215.04 2,445,262,708.10 -57.84% Mainly due to the payment in the period-end
Contractual liabilities 294,278,193.79 568,863,419.80 -48.27% Mainly as a result of recognition of prior period advance from customers
in the current period
Employee benefits payable 71,254,761.77 239,440,390.99 -70.24% Mainly due to the yearly bonus payment
Minority interests 18,536,799.25 -1,269,760.66 1559.87% Mainly as a result of the minority shareholder's capital increase received
by SharkNinja (China) in the reporting period
Item From 1 January From 1 January Flux Notes
2021 to 31 March 2020 to 31 March
2021 2020
Credit impairment losses -11,723,977.88 -6,469,206.43 -81.23% Mainly due to the increase in accounts receivable balance during the
period and the corresponding credit impairment loss provision
Selling expenses 353,355,791.17 236,972,214.32 49.11% Mainly due to the increase on factoring expenses
Mainly due to the increase in labour 55,864,365.17 30,216,691.30 84.88% Mainly due to the receipt of bill security in the reporting period
costs and investment in advertising
and promotional activities during the
period
Payments of taxes and surcharges 167,391,566.79 78,640,320.48 112.86% Mainly due to increased tax payments during the period
Net cash flows from operating -179,932,954.23 143,106,492.72 -225.73% Mainly due to payment for goods
activities
Cash paid to acquire fixed assets, 15,066,714.96 2,008,000.25 650.33% Mainly as a result of increased investment in construction in progress
intangible assets and other long-term during the period
assets
Cash paid to acquire investments 21,000,000.00 5,202,789.49 303.63% Mainly as a result of the purchase of equity instruments during the period
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Joyoung Co., Ltd. Abstract of Interim Report of the First Quarter 2021
Cash received relating to other 66,400,000.00 275,000,000.00 -75.85% Mainly due to less financing bank acceptance bills in the reporting period
financing activities
Cash payments relating to other 210,000,000.00 -100.00% Mainly due to outstanding financing bank acceptance bills in the reporting
financing activities period
Cash received from capital 24,500,000.00 100.00% Mainly as a result of the minority shareholder's capital increase received
contributions by SharkNinja (China) in the reporting period
2. Analysis of the Progress of Important Matters and Their Impact and Solutions
□ Applicable √ Not applicable
The implementation of share-buyback
□ Applicable √ Not applicable
The implementation of reducing buy-back shares through centralized competitive bidding
□ Applicable √ Not applicable
3. Commitments Made by the Actual Controller, Shareholders, Related Parties, Purchasers and Other
Relevant Parties that Have not Been Fulfilled the Correspondent Promise Within the Reporting Period
□ Applicable √ Not applicable
4. Investment in Financial Assets
4.1 Securities investments
□ Applicable √ Not applicable
4.2 Derivative investment
□ Applicable √ Not applicable
5. Progress of Proceeds Investment Project
□ Applicable √ Not applicable
6. Projected operating results for January to June, 2021
Warnings and explanations of reasons why the cumulative net profit from the beginning of the year to the end of the next reporting
period is forecasted to be a loss or to change significantly from the same period of the previous year.
□ Applicable √ Not applicable
7. Significant Contracts for Daily Operations
□ Applicable √ Not applicable
8. Trusted Wealth Management
Unit: RMB 10,000
Source of fund for trust Amount of recorded trust
Type Premature balance Overdue balance
investment investment
Bank financial products Self-owned capital 53,800 135,125 0
Total 53,800 135,125 0
The specific situation of high-risk, low security, poor liquidity or non-guarantee trusted wealth management of significant amount
□ Applicable √ Not applicable
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Joyoung Co., Ltd. Abstract of Interim Report of the First Quarter 2021
Trust investment is expected to be unable to recover the principal or other circumstances that may result in impairment
□ Applicable √ Not applicable
9. Illegal external guarantee
□ Applicable √ Not applicable
10. The Non-operating Funds Occupation of the Controlling Shareholders and Its Related Parties
□ Applicable √ Not applicable
11. Registration Forms for Research, Communication and Interviews During the Reporting Period.
□ Applicable √ Not applicable
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