BIEM.L.FDLKK GARMENT CO., LTD. First Quarter Report 2022
Stock Code: 002832 Stock Abbreviation: BYLF Announcement No.: 2022-042
BIEM.L.FDLKK GARMENT CO., LTD.
First Quarter Report 2022
The Company and all members of the Board of Directors hereby guarantee the truthfulness,
accuracy and completeness of the information disclosed, and there are no false records, misleading
statements or material omissions.
Important Notice:
1. The Board of Directors and the Board of Supervisors of the Company and its directors, supervisors and senior management
warrant that the information contained in this quarterly report is true, accurate and complete without any false records, misleading
statements or material omissions, and they accept legal liability severally and jointly thereof.
2. The person in charge of the Company, the person in charge of accounting of the Company, and the person in charge of the
accounting department of the Company have declared that they warrant the truthfulness, accuracy and completeness of the financial
statements set out in this quarterly report.
3. Whether the First Quarter Report has been audited
□ Yes √ No
I. Main Financial Data
(I) Main accounting data and financial indicators
Whether the Company needs to perform retrospective adjustment or restatement of accounting data for previous years
□ Yes √ No
Same period of previous Changes over same period
Current period
year of previous year
Revenue (RMB) 810,420,572.37 622,634,600.78 30.16%
Net profit attributable to shareholders of
212,692,757.27 150,536,147.62 41.29%
the listed company (RMB)
Net profit attributable to shareholders of
the listed company after deducting 201,656,919.76 145,396,952.74 38.69%
non-recurring profit and loss (RMB)
Net cash flow from operating activities
466,607,840.66 366,315,799.97 27.38%
(RMB)
Basic earnings per share (RMB/share) 0.38 0.29 31.03%
Diluted earnings per share (RMB/share) 0.38 0.28 35.71%
Weighted average return on net assets 6.27% 6.04% 0.23%
Changes over end of
End of current period End of previous year
previous year
Total assets (RMB) 5,154,046,547.81 4,862,956,852.42 5.99%
Owner’s equity attributable to shareholders
3,743,915,960.82 3,245,441,596.49 15.36%
of the listed company (RMB)
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BIEM.L.FDLKK GARMENT CO., LTD. First Quarter Report 2022
(II) Non-recurring items and amounts
√ Applicable □ Not applicable
Unit: RMB
Item Amount of current period Description
Profits/losses from the disposal of non-current asset (including
-4,955.71
the write-off that accrued for impairment of assets)
Governmental grants reckoned into current profits/losses (not
including grants enjoyed in quota or ration according to national
5,121,764.84
standards, which are closely relevant to the company’s normal
business)
Other non-operating revenue and expenses except for the
-988,647.31
aforementioned items
Other profit and loss items that meet the definition of
9,457,859.81
non-recurring profit and loss
Less: Influence of income tax 2,550,184.12
Total 11,035,837.51 --
Details of other profit and loss items that meet the definition of non-recurring profit and loss:
□ Applicable √ Not applicable
The Company has no other profit/loss items that qualified the definition of non-recurring profit/loss.
Descriptions where the Company defines any non-recurring profit and loss items listed in the No. 1 Explanatory Announcement on
Information Disclosure of Companies Offering Securities to the Public—Non-recurring Profit and Loss as recurring profit and loss
items during the reporting period
□ Applicable √ Not applicable
The Company did not define any non-recurring profit and loss items listed in the No. 1 Explanatory Announcement on Information
Disclosure of Companies Offering Securities to the Public—Non-recurring Profit and Loss as recurring profit and loss items during
the reporting period.
(III) Changes of main accounting data and financial indicators, and reasons for the changes
√ Applicable □ Not applicable
December 31, 2022 December 31, 2021
Item Change ratio Description
(RMB) (RMB)
Other non-current assets - 1,833,508.45 -100.00% Mainly owing to the advance payments carried
forward in the current period
Employee benefits 83,658,370.57 64,027,461.27 30.66% Mainly owing to the increase in sales
payable performance in the current period
Taxes payable 189,755,378.61 130,969,262.60 44.89% Mainly owing to the increase in sales
performance in the current period
Bonds payable - 284,554,163.11 -100.00% Mainly owing to the conversion of convertible
bonds into shares in the current period
Other equity instruments - 27,524,454.16 -100.00% Mainly owing to the conversion of convertible
bonds into shares in the current period
Capital reserve 893,544,757.34 600,470,446.15 48.81% Mainly owing to the conversion of convertible
bonds into shares in the current period
Item Amount of current Amount of previous Change ratio Description
period (RMB) period (RMB)
Revenue 810,420,572.37 622,634,600.78 30.16% Mainly owing to the increase in sales
performance in the current period
Cost of revenue 198,651,846.91 145,941,906.93 36.12% Mainly owing to the increase in sales
performance in the current period
Mainly owing to the increase in sales
Tax and surcharges 7,706,269.83 5,429,793.36 41.93% performance and VAT payable in the current
period
R&D expenses 25,321,135.44 17,281,192.66 46.52% Mainly owing to the increase in R&D
investments in the current period
Finance expenses -3,076,152.10 3,498,916.84 -187.92% Mainly owing to the increase in interests on
time deposits in the current period
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BIEM.L.FDLKK GARMENT CO., LTD. First Quarter Report 2022
Other income 5,122,808.74 588,007.00 771.22% Mainly owing to the increase in government
grants received in the current period
Investment income 9,457,859.81 5,524,849.52 71.19% Mainly owing to the increase in income from
wealth management products in the current
period
Asset impairment loss -11,685,476.98 -6,891,519.29 -69.56% Mainly owing to the provision for inventory
impairment in the current period
Income tax expenses 47,081,807.86 33,007,892.61 42.64% Mainly owing to the increase in profits in the
current period
Changes
Same period of over same
Current period
previous year period of Description
(RMB)
(RMB) previous
year
Revenue 810,420,572.37 622,634,600.78 30.16% Mainly owing to the increase in sales
performance in the current period
Net profit attributable to
Mainly owing to the increase in sales
shareholders of the listed 212,692,757.27 150,536,147.62 41.29%
performance in the current period
company
Net profit attributable to
shareholders of the listed
Mainly owing to the increase in sales
company after deducting 201,656,919.76 145,396,952.74 38.69%
performance in the current period
non-recurring profit and
loss
II. Shareholder Information
(I) Total number of ordinary shareholders, number of preferred shareholders whose voting rights were
resumed and shareholdings of top 10 shareholders
Unit: share
Total number of preferred
Total number of ordinary
shareholders whose voting
shareholders at the end of the 8,480 0
rights were resumed at the end
reporting period
of the reporting period (if any)
Shareholdings of top 10 shareholders
Name of Nature of Shareholding Pledged, marked or frozen
Number of shares Restricted shares
shareholder shareholder percentage (%) Share status Number
Domestic natural
Xie Bingzheng 37.88% 216,170,800 162,128,100
person
Domestic natural
Feng Lingling 3.44% 19,652,000
person
Domestic natural
Shen Jindong 3.44% 19,652,000 14,739,000
person
National Social
Security Fund Others 2.21% 12,600,289
Portfolio 103
ICBC - GF
Steady Growth
Others 2.02% 11,500,000
Securities
Investment Fund
Domestic natural
Xie Ting 2.00% 11,403,195
person
Hong Kong
Foreign legal
Securities 1.87% 10,658,332
person
Clearing Co., Ltd.
Xie Bingluan Domestic natural 1.69% 9,627,254
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BIEM.L.FDLKK GARMENT CO., LTD. First Quarter Report 2022
person
Domestic natural
Li Huiqiang 1.68% 9,563,797
person
CCB - Guotai
Health Equity Others 1.67% 9,533,250
Investment Fund
Top 10 shareholders not subject to selling restrictions
Type of shares
Name of shareholder Number of unrestricted shares
Type of shares Number
RMB-denominate
Xie Bingzheng 54,042,700 54,042,700
d ordinary shares
RMB-denominate
Feng Lingling 19,652,000 19,652,000
d ordinary shares
National Social Security Fund RMB-denominate
12,600,289 12,600,289
Portfolio 103 d ordinary shares
ICBC - GF Steady Growth RMB-denominate
11,500,000 11,500,000
Securities Investment Fund d ordinary shares
RMB-denominate
Xie Ting 11,403,195 11,403,195
d ordinary shares
Hong Kong Securities Clearing Co., RMB-denominate
10,658,332 10,658,332
Ltd. d ordinary shares
RMB-denominate
Xie Bingluan 9,627,254 9,627,254
d ordinary shares
RMB-denominate
Li Huiqiang 9,563,797 9,563,797
d ordinary shares
CCB - Guotai Health Equity RMB-denominate
9,533,250 9,533,250
Investment Fund d ordinary shares
ICBC - ZO Value Hybrid Securities RMB-denominate
9,114,911 9,114,911
Investment Fund d ordinary shares
Description on the related Xie Bingzheng and Feng Lingling are husband and wife; Xie Bingzheng and Xie Ting are
relationship or persons brothers; Xie Bingzheng, Feng Lingling, and Xie Ting are persons acting in concert. It is
acting-in-concert arrangements unknown to the Company whether other shareholders are related parties or parties acting in
among the above shareholders concert as stipulated in the Administrative Measures on Acquisition of Listed Companies.
Description on the top 10
shareholders’ participation in margin
trading and securities lending None
business (if any)
(II) Total number of preferred shareholders and shareholdings of top 10 preferred shareholders
□ Applicable √ Not applicable
III. Other Significant Matters
√ Applicable □ Not applicable
(I) Phase III Employee Stock Ownership Plan
The Company convened the 32nd meeting of the Third Board of Directors and 20th meeting of the Third Board of Supervisors on
January 13, 2021 and the 2021 First Extraordinary General Meeting of Shareholders on January 29, 2021. The meetings deliberated
and approved the Proposal on the Phase III Employee Stock Ownership Plan (Draft) and Its Summary and other relevant proposals.
On February 27, 2021, the BIEM.L.FDLKK - Phase III Employee Stock Ownership Plan purchased total 6,494,626 shares of the
Company through centralized bidding in the secondary market. So far, the Phase III Employee Stock Ownership Plan has completed
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BIEM.L.FDLKK GARMENT CO., LTD. First Quarter Report 2022
share purchase, and the purchased shares will be locked in accordance with relevant provisions.
On March 1, 2021, the Company published the Indicative Announcement on Expiry of the Lockup Period of the Phase III Employee
Stock Ownership Plan. The lockup period of the Phase III Employee Stock Ownership Plan has ended.
As of the end of the reporting period, the Phase III Employee Stock Ownership Plan owns 6,494,626 shares of the Company,
accounting for 1.14% of its total share capital. Shareholding of the Plan was not changed during the reporting period.
(II) Convertible bonds
The Company convened the 9th meeting of the Fourth Board of Directors on January 24, 2022, which deliberated and approved the
Proposal on Early Call of “BIEM Convertible Bonds”. The Company decided to exercise the conditional call option and redeem all
“BIEM convertible bonds” that are registered in the Shenzhen Branch of China Securities Depository and Clearing Corporation
Limited and not converted into shares after the closing of the market on the redemption registration date at a price of bond face value
plus accrued interest of the current period. As at the market closing on February 22, 2022, still 3,058 “BIEM convertible bonds” were
not converted to shares, so the Company redeemed 3,058 bonds. At a call price of RMB100.42 per bond (face value plus current
accrued interest; the interest rate of the period was 0.6% and the accrued interest included tax; the call price after tax deduction was
subject to the price approved by China Securities Depository and Clearing Corporation Limited), the Company paid totally
RMB307,084.36 for the redemption. The total face value of the redeemed “BIEM convertible bonds” is RMB305,800.00, accounting
for 0.04% of the total bonds issued. Upon completion, all the convertible bonds have been redeemed and the BIEM convertible bonds
were delisted as they were no longer qualified for listing.
IV. Quarterly Financial Statements
(I) Financial statements
1. Consolidated balance sheet
Prepared by: BIEM.L.FDLKK GARMENT CO., LTD.
March 31, 2022
Unit: RMB
Item Balance at the end of the period Balance at the beginning of the period
Current assets:
Monetary funds 1,236,034,029.02 1,082,712,218.58
Settlement reserve
Lending funds
Financial assets held for trading 803,424,832.00 634,763,818.96
Derivative financial assets
Notes receivable
Accounts receivable 241,618,219.85 279,717,057.14
Accounts receivable financing
Prepayments 78,167,653.08 67,028,355.09
Premium receivable
Reinsurance payables
Reinsurance contract reserves
receivable
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BIEM.L.FDLKK GARMENT CO., LTD. First Quarter Report 2022
Other receivables 70,278,308.55 89,889,485.22
Including: Interest receivable
Dividends receivable
Financial assets held under resale
agreements
Inventory 653,556,657.48 660,214,219.41
Contract assets
Assets held for sale
Non-current assets due within one
year
Other current assets 915,585,546.77 830,640,713.41
Total current assets 3,998,665,246.75 3,644,965,867.81
Non-current assets:
Loans and advances
Debt investments
Other debt investments
Long-term receivable
Long-term equity investment
Investment in other equity
98,099,300.47 98,099,300.47
instruments
Other non-current financial assets
Investment property
Fixed assets 236,221,422.51 244,337,754.20
Construction in progress 144,548,909.77 148,165,548.36
Productive biological assets
Oil & gas assets
Right-of-use assets 356,403,897.11 407,448,654.74
Intangible assets 126,883,494.32 119,548,729.29
Development expenses
Goodwill
Long-term deferred expenses 94,259,923.32 105,243,120.55
Deferred income tax assets 98,964,353.56 93,314,368.55
Other non-current assets 1,833,508.45
Total non-current assets 1,155,381,301.06 1,217,990,984.61
Total assets 5,154,046,547.81 4,862,956,852.42
Current liabilities:
Short-term loans
Borrowings from PBC
Placements from banks and other
financial institutions
Financial liabilities held for trading
Derivative financial liabilities
Notes payable 27,790,788.24 38,098,527.79
Accounts payable 159,898,812.90 126,522,502.78
Payments received in advance
Contract liabilities 141,332,219.56 140,669,127.30
Proceeds from financial assets sold
under repo
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BIEM.L.FDLKK GARMENT CO., LTD. First Quarter Report 2022
Deposits from customers and
interbank
Funds from securities trading
agency
Funds from securities underwriting
agency
Employee benefits payable 83,658,370.57 64,027,461.27
Taxes payable 189,755,378.61 130,969,262.60
Other payables 57,004,519.51 55,878,486.28
Including: Interests payable
Dividends payable
Service charge and commission
payable
Reinsurance payable
Liabilities held for sale
Non-current liabilities due within
189,538,362.09 197,019,114.42
one year
Other current liabilities 347,641,995.58 328,630,853.34
Total current liabilities 1,196,620,447.06 1,081,815,335.78
Non-current liabilities:
Insurance contract reserves
Long-term loans
Bonds payable 284,554,163.11
Including: Preference shares
Perpetual bonds
Lease liabilities 179,688,136.26 217,323,756.45
Long-term payable
Long-term employee benefits
payable
Provision
Deferred income 30,000,000.00 30,000,000.00
Deferred tax liabilities 2,854,265.46 2,854,265.46
Other non-current liabilities
Total non-current liabilities 212,542,401.72 534,732,185.02
Total liabilities 1,409,162,848.78 1,616,547,520.80
Owner’s equity:
Share capital 570,707,084.00 550,326,712.00
Other equity instruments 27,524,454.16
Including: Preference shares
Perpetual bonds
Capital reserve 893,544,757.34 600,470,446.15
Less: Treasury shares
Other comprehensive income -990,792.61 -842,173.72
Special reserves
Surplus reserves 258,110,335.93 258,110,335.93
General reserves
Retained earnings 2,022,544,576.16 1,809,851,821.97
Total equity attributable to owners of
3,743,915,960.82 3,245,441,596.49
the parent company
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BIEM.L.FDLKK GARMENT CO., LTD. First Quarter Report 2022
Equities of minority shareholders 967,738.21 967,735.13
Total owner’s equity 3,744,883,699.03 3,246,409,331.62
Total liabilities and owners’ equity 5,154,046,547.81 4,862,956,852.42
Legal representative: Xie Bingzheng Person in charge of accounting: Tang Xinqiao Person in charge of accounting
department: Chen Shaobing
2. Consolidated income statement
Unit: RMB
Item Incurred in the current period Incurred in the prior period
I. Total Revenue 810,420,572.37 622,634,600.78
Including: Revenue 810,420,572.37 622,634,600.78
Interest income
Insurance premiums earned
Service charge and
commission income
II. Costs and Expenses 552,546,551.89 438,314,330.18
Including: Cost of revenue 198,651,846.91 145,941,906.93
Interest expenses
Service charge and
commission expenses
Surrender value
Net compensation expenses
Net appropriation of
insurance reserve
Commissions on insurance
policies
Reinsurance costs
Tax and surcharges 7,706,269.83 5,429,793.36
Selling expenses 280,295,330.40 229,321,822.75
Administrative expenses 43,648,121.41 36,840,697.64
R&D expenses 25,321,135.44 17,281,192.66
Finance expenses -3,076,152.10 3,498,916.84
Including: Interest fees 5,972,669.50 7,197,666.07
Interest income 9,623,041.08 3,737,229.17
Plus: Other income 5,122,808.74 588,007.00
Return on investment ("-"
9,457,859.81 5,524,849.52
indicates loss)
Including: Return on
investment in associates and joint
ventures
Income from the
derecognition of financial assets
measured at amortized cost
Exchange gains ("-" indicates
loss)
Gains from net exposure
hedging ("-" indicates loss)
Gains from changes in fair
value ("-" indicates loss)
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BIEM.L.FDLKK GARMENT CO., LTD. First Quarter Report 2022
Credit impairment losses ("-"
indicates loss)
Asset impairment losses ("-"
-11,685,476.98 -6,891,519.29
indicates loss)
Return on disposal of assets
("-" indicates loss)
III. Operating Profit ("-" indicates loss) 260,769,212.05 183,541,607.83
Plus: Non-operating revenue 28,333.04 131,944.49
Less: Non-operating expenses 1,022,979.96 129,512.09
IV. Total Profit ("-" indicates total loss) 259,774,565.13 183,544,040.23
Less: Income tax expense 47,081,807.86 33,007,892.61
V. Net Profit ("-" indicates net loss) 212,692,757.27 150,536,147.62
i. Classified by operation sustainability
1. Net profit from continued
212,692,757.27 150,536,147.62
operation ("-" indicates net loss)
2. Net profit from discontinued
operation ("-" indicates net loss)
ii. Classified by attribution of
ownership
1. Net profit attributable to owners
212,692,757.27 150,536,147.62
of the parent company
2. Minority shareholders’ profits and
losses
VI. Net Amount of Other Comprehensive
Income after Tax
Total other comprehensive after-tax net
income attributable to owners of the
parent company
i. Other comprehensive income not
able to be reclassified into profit or loss
1. Changes of
remeasurement of the defined benefit
plan
2. Other comprehensive
income that cannot be transferred into
profit or loss under equity method
3. Changes in fair value of
investment in other equity instruments
4. Changes in fair value of
credit risk of the enterprise
5. Others
ii. Other comprehensive income
reclassified into profit or loss
1. Other comprehensive
income to be transferred into profit or
loss under equity method
2. Changes in fair value of
other debt investments
3. Financial assets
reclassified into other comprehensive
income
4.Provision for credit
impairment of other debt investments
5. Reserve of cash flow
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BIEM.L.FDLKK GARMENT CO., LTD. First Quarter Report 2022
hedge
6. Converted difference in
foreign currency financial statements
7. Others
Total other comprehensive after-tax net
income attributable to minority
shareholders
VII. Total Comprehensive Income 212,692,757.27 150,536,147.62
Total comprehensive income
attributable to owners of the parent 212,692,757.27 150,536,147.62
company
Total comprehensive income
attributable to minority shareholders
VIII. Earnings per Share:
i. Basic earnings per share 0.38 0.29
ii. Diluted earnings per share 0.38 0.28
For business combinations under common control in the reporting period, the net profit realized by the combined party before the
combination is: RMB; the net profit realized by the combined party in the previous period is: RMB.
Legal representative: Xie Bingzheng Person in charge of accounting: Tang Xinqiao Person in charge of accounting
department: Chen Shaobing
3. Consolidated cash flow statement
Unit: RMB
Item Incurred in the current period Incurred in the prior period
I. Cash Flows from Operating
Activities:
Cash received from sale of goods
884,641,760.13 742,495,207.03
or rendering of services
Net increase in deposits from
customers, banks and non-bank
financial institutions
Net increase in borrowings from
central banks
Net increase in placements from
other financial institutions
Cash received from the premium
of direct insurance contracts
Net cash from reinsurance business
Net increase in deposits and
investment of the insured
Cash obtained from interest, net
fee and commission
Net increase in placements from
banks and other financial institutions
Net increase in repo service fund
Net cash from agent securities
trading
Tax rebates
Cash received related to other
10,221,029.37 5,744,793.12
operating activities
Sub-total of cash inflow from operating
894,862,789.50 748,240,000.15
activities
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BIEM.L.FDLKK GARMENT CO., LTD. First Quarter Report 2022
Cash paid for goods purchased and
171,391,319.33 158,756,242.20
services rendered
Net loans and advances to
customers
Net increase in deposits with the
central bank, banks and non-bank
financial institutions
Cash paid for claims of direct
insurance contracts
Net increase in placements with
banks and non-bank financial
institutions
Cash paid for interest, fee and
commission
Cash paid for dividends of the
insured
Cash paid to and on behalf of
102,483,386.38 89,722,937.81
employees
Payments of all types of taxes 86,040,615.85 66,405,536.72
Cash payments related to other
68,339,627.28 67,039,483.45
operating activities
Sub-total of cash outflow from
428,254,948.84 381,924,200.18
operating activities
Net cash flow from operating activities 466,607,840.66 366,315,799.97
II. Cash Flows from Investing
Activities:
Cash received from recovery of
investment
Cash received from the return on
11,560,852.45 8,401,155.07
investments
Net cash received from the
disposal of fixed assets, intangible
assets, and other long-term assets
Net amount of cash received from
the disposal of subsidiaries and other
business entities
Cash received related to other
1,380,000,000.00 1,200,000,000.00
investing activities
Sub-total of cash inflow from investing
1,391,560,852.45 1,208,401,155.07
activities
Cash paid for the acquisition and
construction of fixed assets, intangible 94,444,318.49 6,628,181.11
assets, and other long-term assets
Cash paid for investments
Net increase in pledged loans
Net amount of cash paid for
acquisition of subsidiaries and other
business entities
Cash payments related to other
1,580,000,000.00 1,150,000,000.00
investing activities
Sub-total of cash outflow from
1,674,444,318.49 1,156,628,181.11
investing activities
Net cash flows from investing activities -282,883,466.04 51,772,973.96
III. Cash Flows from Financing
Activities:
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BIEM.L.FDLKK GARMENT CO., LTD. First Quarter Report 2022
Cash received from capital
contribution
Including: Proceeds received by
subsidiaries from minority
shareholders’ investment
Cash received from borrowings
Cash received related to other
9,498,897.00
financing activities
Sub-total of cash inflow from financing
9,498,897.00
activities
Cash paid for repayments of
borrowings
Cash payment for interest expenses
and distribution of dividends or profits
Including: Dividend and profit
paid by subsidiaries to minority
shareholders
Cash payments related to other
35,496,927.12
financing activities
Sub-total of cash outflow from
35,496,927.12
financing activities
Net cash flows from financing activities -35,496,927.12 9,498,897.00
IV. Effect of Exchange Rate Changes on
Cash and Cash Equivalents
V. Net Increase in Cash and Cash
148,227,447.50 427,587,670.93
Equivalents
Plus: Opening balance of cash and
1,058,018,706.05 569,284,546.79
cash equivalents
VI. Closing Balance of Cash and Cash
1,206,246,153.55 996,872,217.72
Equivalents
(II) Report auditing
Whether the First Quarter Report has been audited
□ Yes √ No
The First Quarter Report of the Company has not been audited.
Board of Directors of BIEM.L.FDLKK Garment Co., Ltd.
April 16, 2022
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