The First Quarterly Report of 2024
Stock code: 000017, 200017 Notice No.: 2024-024
short form of the stock: Zhonghua-A, Zhonghua-B
Shenzhen China Bicycle Company (Holdings) Co., Ltd.
The First Quarterly Report of 2024
The Company and whole members of the BOD guarantee that the information disclosed is true, accurate
and complete, and there are no any fictitious records, misleading statements or important omissions.
Important content reminder:
1. Board of Directors, Board of Supervisory, all directors, supervisors and senior executives of Shenzhen China Bicycle Company
(Holdings) Co., Ltd. (hereinafter referred to as the Company) 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.
2. Principal of the Company, Person in Charge of Accounting Works and Person in Charge of Accounting Organ (Accounting
Principal) hereby confirm that the Financial Report of the First Quarterly Report is authentic, accurate and complete.
3.Whether the First Quarterly Report is audited
□Yes No
I. Main financial data
(1) Main accounting data and financial indexes
Whether it has retroactive adjustment or re-statement on previous accounting data or not
□Yes No
Increase or decrease in the
current Period compared with
Current Period Same period of previous year
the same period of previous
year (%)
Operation revenue(RMB) 112,547,686.50 151,527,917.92 -25.72%
Net profit attributable to
shareholders of the listed 3,215,826.19 2,848,657.72 12.89%
company (RMB)
Net profit attributable to
shareholders of the listed
company after deducting non- 2,769,381.12 3,066,157.71 -9.68%
recurring gains and
losses(RMB)
Net cash flow arising from
-29,196,176.31 -7,545,878.64 -286.92%
operating activities(RMB)
Basic EPS(RMB/Share) 0.0047 0.0041 14.63%
Diluted EPS(RMB/Share) 0.0047 0.0041 14.63%
Weighted average ROE 1.04% 0.98% 0.06%
Increase or decrease at end of
End of current Period End f previous year the current Period compared
with the end of previous year
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The First Quarterly Report of 2024
(%)
Total assets(RMB) 356,300,830.00 369,677,494.32 -3.62%
Owners’ equity attributable to
shareholders of listed 311,977,072.35 308,761,246.16 1.04%
company(RMB)
(2) Items and amounts of non-recurring profit (gains)/losses
Applicable □Not applicable
In RMB
Item Current amount Note
Switch-back of provision of impairment
of account receivable which are treated 14,512.00
with separate depreciation test
Net amount of non-operating income and
581,891.14
expense except the aforesaid items
Less :Influenced amount of income tax 148,875.19
Influenced amount of minor
1,082.88
shareholders’ equity (after tax)
Total 446,445.07 --
Other gain/loss items that qualified the definition of non-recurring profit (gains)/losses:
□Applicable Not applicable
The Company does not have other gain/loss items that qualified the definition of non-recurring profit
(gains)/losses
Explanation on those non-recurring gain/loss listed in the “Q&A Announcement No.1 on Information Disclosure
for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss” defined as recurring gain/loss
□Applicable Not applicable
The Company does not have the non-recurring gain/loss listed in the “Q&A Announcement No.1 on Information
Disclosure for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss” defined as
recurring gain/loss
(3) Particulars about changes in items of main accounting data and financial index and explanations of
reasons
Applicable □Not applicable
In RMB
Period-end/current Period-begin/previous Y-o-y changes
Item Cause of change
period period (+,-)
Payments and prepayments for purchases in the
Monetary fund 24,952,498.09 54,148,674.40 -54%
current period
Accounts paid in The increase in prepayment for purchases
15,135,598.32 3,821,181.16 296%
advance during the current period
Other current Pending input tax received in the current
2,118,284.92 11,216,095.44 -81%
assets periods
Increase in accounts payable paid in the current
Account payable 3,559,592.58 6,213,665.02 -43%
period
The tax payable in the previous period paid in
Taxes payable 2,364,830.55 11,297,756.46 -79%
the current period
Subtotal of cash in-
flow arising from 97,755,220.34 291,774,127.59 -66% Sales decreased in the current period
operation activity
Subtotal of cash
out-flow arising
126,951,396.65 299,320,006.23 -58% Purchases decreased during the current period
from operation
activity
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The First Quarterly Report of 2024
II. Shareholders
(1) Total number of common shareholders and preference shareholders with voting rights recovered and
top ten shareholders
In Shares
Total preferred shareholders with voting rights
Total common shareholders at end of the Period 75,669 recovered at end of reporting period (if 0
applicable)
Top ten shareholders（Excluding shares lent through refinancing)
Pledging or freezing
Amount of
tradable shares
Properties Share
Full name of Shareholders of proporti Quantity with Status of
shareholder on % Quantity
the shares
Conditional
held
Domestic
Wansheng Industrial Holdings non-state- Not
20.00% 137,836,986 137,836,986 0
(Shenzhen) Co., Ltd. owned legal applicable
person
Domestic 0
Shenzhen Guosheng Energy non-state- Not
9.22% 63,508,747 0
Investment Development Co., Ltd. owned legal applicable
person
UOB Kay Hian (Hong Kong) Foreign 0 Not
5.92% 40,817,329 0
Limited[Note 1] legal person applicable
Guosen Securities (HK) Brokerage Foreign 0 Not
3.04% 20,983,693 0
Co., Ltd. legal person applicable
Shenwan Hongyuan Securities (Hong Foreign 0 Not
1.20% 8,281,156 0
Kong) Co., Ltd. legal person applicable
China Merchants Securities (HK) Co., Foreign 0 Not
0.77% 5,294,135 0
Ltd legal person applicable
Domestic 0
Not
Li Huili nature 0.56% 3,891,124 0
applicable
person
Domestic 0
Not
Li Cheng nature 0.44% 3,000,084 0
applicable
person
Domestic 0
Not
Xu Hongbo nature 0.43% 2,988,619 0
applicable
person
Domestic 0
Not
Yang Yaochu nature 0.39% 2,665,686 0
applicable
person
Particular about top ten shareholders with un-restrict shares held
Amount of un-restrict shares held at Period- Type of shares
Shareholders’ name
end Type Amount
RMB
Shenzhen Guosheng Energy Investment 63,508,74
63,508,747 common
Development Co., Ltd. 7
shares
Domestica
lly listed 40,817,32
UOB Kay Hian (Hong Kong) Limited [Note 1 40,817,329
foreign 9
shares
Guosen Securities (HK) Brokerage Co., Ltd. 20,983,693 Domestica 20,983,69
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The First Quarterly Report of 2024
lly listed 3
foreign
shares
Domestica
Shenwan Hongyuan Securities (Hong Kong) Co., lly listed
8,281,156 8,281,156
Ltd. foreign
shares
Domestica
lly listed
China Merchants Securities (HK) Co., Ltd 5,294,135 5,294,135
foreign
shares
Domestica
lly listed
Li Huili 3,891,124 3,891,124
foreign
shares
RMB
Li Cheng 3,000,084 common 3,000,084
shares
Domestica
lly listed
Xu Hongbo 2,988,619 2,988,619
foreign
shares
Domestica
lly listed
Yang Yaochu 2,665,686 2,665,686
foreign
shares
RMB
common 1,383,313
Shenzhen China Bicycle Company (Holdings) Co., shares
Ltd. -Special account for property disposal of 2,602,402 Domestica
bankrupt enterprise lly listed
1,219,089
foreign
shares
Li Huili, spouse of Ji Hanfei, the actual controller of
Shenzhen Guosheng Energy Investment Development Co.,
Ltd., holding B-share of the Company on behalf of Shenzhen
Guosheng Energy Investment Development Co., Ltd., other
Explanation on associated relationship among the aforesaid
than that, the Company does not know whether the other
shareholders
outstanding shareholders are related and whether the
shareholders belong to persons acting in concert regulated in
the Administration of Disclosure of Information on the
Change of Shareholders in Listed Companies.
Explanation on top 10 shareholders involving margin business (if
N/A
any) (see note 4)
Note 1: UOB Kay Hian (Hong Kong) Limited is licensed under the Securities and Futures Ordinance of Hong Kong to provide
securities brokerage services to retail and institutional clients. Its main business is Hong Kong stock brokerage, and it also
provides securities brokerage and services in various overseas markets. According to the email sent from UOB Kay Hian (Hong
Kong) Limited, as of March 31, 2024, UOB Kay Hian (Hong Kong) Limited held 40,817,329 shares of Shenzhen China B shares
for three retail clients, and although the shareholding ratio has reached 5.92%, the single client does not exceed 5%, and the three
retail clients are not acting in concert and do not hold Shenzhen China shares on other platforms.
Information of shareholders holding more than 5% of the shares, the top 10 shareholders and the top 10
shareholders of unrestricted tradable shares participating in the lending of shares in securities lending and
borrowing business
□Applicable Not applicable
The top 10 shareholders and the top 10 shareholders of unrestricted tradable shares have changed compared
with the previous period due to the securities lending/returning,
□Applicable Not applicable
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The First Quarterly Report of 2024
(2) Total shareholders with preferred stock held and shares held by top ten shareholders with preferred
stock held
□Applicable Not applicable
III. Important matters
Applicable □Not applicable
IV. Financial Statement
(1) Financial statement
1. Consolidate Balance Sheet
Prepared by Shenzhen China Bicycle Company (Holdings) Co., Ltd.
2024-03-31
In RMB
Item Ending balance Opening balance
Current assets:
Monetary fund 24,952,498.09 54,148,674.40
Settlement provisions
Capital lent
Trading financial assets
Derivative financial assets
Note receivable
Account receivable 226,531,649.41 196,293,133.00
Receivable financing
Accounts paid in advance 15,135,598.32 3,821,181.16
Insurance receivable
Reinsurance receivables
Contract reserve of reinsurance
receivable
Other account receivable 12,968,108.54 12,868,327.03
Receivable financing
Accounts paid in advance
Insurance receivable
Inventory 65,540,187.45 81,916,039.14
Including：Data resources
Contractual assets
Assets held for sale
Non-current asset due within one year
Other current assets 2,118,284.92 11,216,095.44
Total current assets 347,246,326.73 360,263,450.17
Non-current assets:
Loans and payments on behalf
Debt investment
Other debt investment
Long-term account receivable
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The First Quarterly Report of 2024
Long-term equity investment
Investment in other equity instrument
Other non-current financial assets
Investment real estate
Fixed assets 2,261,313.23 2,288,610.10
Construction in progress
Productive biological asset
Oil and gas asset
Right-of-use assets 1,602,591.03 1,816,269.83
Intangible assets
Including：Data resources
Expense on Research and Development
Including：Data resources
Goodwill
Long-term expenses to be apportioned
Deferred income tax asset 4,790,599.01 4,909,164.22
Other non-current assets 400,000.00 400,000.00
Total non-current assets 9,054,503.27 9,414,044.15
Total assets 356,300,830.00 369,677,494.32
Current liabilities:
Short-term loans
Loan from central bank
Capital borrowed
Trading financial liability
Derivative financial liability
Note payable
Account payable 3,559,592.58 6,213,665.02
Accounts received in advance
Contractual liability 958,302.97 633,114.64
Selling financial asset of repurchase
Absorbing deposit and interbank deposit
Security trading of agency
Security sales of agency
Wage payable 922,710.69 1,149,151.81
Taxes payable 2,364,830.55 11,297,756.46
Other account payable 34,264,947.84 39,034,314.13
Including: Interest payable
Dividend payable
Commission charge and commission
payable
Reinsurance payable
Liability held for sale
Non-current liabilities due within one year 860,406.31 847,403.05
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The First Quarterly Report of 2024
Other current liabilities 1,150.44 82,304.90
Total current liabilities 42,931,941.38 59,257,710.01
Non-current liabilities:
Insurance contract reserve
Long-term loans
Bonds payable
Including: Preferred stock
Perpetual bonds
Lease liability 798,633.04 1,018,630.12
Long-term account payable
Long-term wages payable
Accrual liability
Deferred income
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 798,633.04 1,018,630.12
Total liabilities 43,730,574.42 60,276,340.13
Owner’s equity:
Share capital 689,184,933.00 689,184,933.00
Other equity instrument
Including: Preferred stock
Perpetual bonds
Capital public reserve 779,554,450.36 779,554,450.36
Less: Inventory shares
Other comprehensive income
Reasonable reserve
Surplus public reserve 32,673,227.01 32,673,227.01
Provision of general risk
Retained profit -1,189,435,538.02 -1,192,651,364.21
Total owner’ s equity attributable to parent
311,977,072.35 308,761,246.16
company
Minority interests 593,183.23 639,908.03
Total owner’ s equity 312,570,255.58 309,401,154.19
Total liabilities and owner’ s equity 356,300,830.00 369,677,494.32
Legal Representative: Wang Shenghong Person in charge of Accounting Works: Sun Longlong Person in charge of
Accounting Institution: She Hanxing
2. Consolidated Profit Statement
In RMB
Item Current period incurred Prior period incurred
I. Total operation revenue 112,547,686.50 151,527,917.92
Including: Operation revenue 112,547,686.50 151,527,917.92
Interest income
Insurance gained
Commission charge and commission income
II. Total operation cost 109,260,842.04 147,176,272.40
Including: Operation cost 106,582,652.81 143,175,923.57
Interest expense
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The First Quarterly Report of 2024
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
Tax and surcharge 64,008.90 106,685.88
Sales expenses 727,936.32 1,013,451.89
Administrative expenses 1,789,717.65 2,378,689.86
R&D expenses 106,484.06 529,106.67
Financial expenses -9,957.70 -27,585.47
Including: Interest expenses 13,483.96
Interest income 30,528.71 34,411.47
Add: Other income 2,092.35
Investment income (Loss is listed with “-”)
Including: Investment income on affiliated company
and joint venture
The termination of income recognition for financial
assets measured by amortized cost
Exchange income (Loss is listed with “-”)
Net exposure hedging income (Loss is listed with “-”)
Income from change of fair value (Loss is listed with
“-”)
Loss of credit impairment (Loss is listed with “-”) 483,302.05 331,910.63
Impairment loss on assets(Loss is listed with “-”)
Income from assets disposal (Loss is listed with “-”)
III. Operation profit (Loss is listed with “-”) 3,770,146.51 4,685,648.50
Add: Non-operating income 641,830.65 560,000.01
Less: Non-operating expense 59,939.51 850,000.00
IV. Total profit (Loss is listed with “-”) 4,352,037.65 4,395,648.51
Less: Income tax expense 1,182,936.26 834,548.55
V. Net profit (Net loss is listed with “-”) 3,169,101.39 3,561,099.96
(i) Classify by business continuity
1.Continuous operating net profit (net loss listed with
3,169,101.39 3,561,099.96
‘-”)
2.Termination of net profit (net loss listed with ‘-”)
(ii) Classify by ownership
1.Net profit attributable to shareholders of parent
3,215,826.19 2,848,657.72
company
2.Minority shareholders’ gains and losses -46,724.80 712,442.24
VI. Net other comprehensive income after taxation
Net other comprehensive income attributable to
owners of parent company after taxation
(i) Other comprehensive income items which will not
be reclassified subsequently to profit of loss
1.Changes of the defined benefit plans that re-
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The First Quarterly Report of 2024
measured
2.Other comprehensive income under equity method
that cannot be transfer to gain/loss
3.Change of fair value of investment in other equity
instrument
4.Fair value change of enterprise's credit risk
5. Other
(ii) Other comprehensive income items which will be
reclassified subsequently to profit or loss
1.Other comprehensive income under equity method
that can transfer to gain/loss
2.Change of fair value of other debt investment
3.Amount of financial assets re-classify to other
comprehensive income
4.Credit impairment provision for other debt
investment
5.Cash flow hedging reserve
6.Translation differences arising on translation of
foreign currency financial statements
7.Other
Net other comprehensive income attributable to
minority shareholders after taxation
VII. Total comprehensive income 3,169,101.39 3,561,099.96
Total comprehensive income attributable to owners of
3,215,826.19 2,848,657.72
parent Company
Total comprehensive income attributable to minority
-46,724.80 712,442.24
shareholders
VIII. Earnings per share:
(i)Basic EPS 0.0047 0.0041
(ii)Diluted EPS 0.0047 0.0041
As for the enterprise combined under the same control, net profit of 0 Yuan achieved by the merged party before combination
while 0 Yuan achieved last period.
Legal Representative: Wang Shenghong Person in charge of Accounting Works: Sun Longlong Person in charge of
Accounting Institution: She Hanxing
3. Consolidated Cash Flow Statement
In RMB
Item Current period incurred Prior period incurred
I. Cash flows arising from operating
activities:
Cash received from selling commodities
97,006,776.77 282,900,383.10
and providing labor services
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
Net increase of insured savings and
investment
Cash received from interest, commission
charge and commission
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The First Quarterly Report of 2024
Net increase of capital borrowed
Net increase of capital from repurchase
business
Net cash received by agents in sale and
purchase of securities
Write-back of tax received 2,217.90
Other cash received concerning operating
748,443.57 8,871,526.59
activities
Subtotal of cash in-flow arising from
97,755,220.34 291,774,127.59
operation activity
Cash paid for purchasing commodities and
119,791,129.51 293,494,756.99
receiving labor service
Net increase of customer loans and
advances
Net increase of deposits in central bank and
interbank
Cash paid for original insurance contract
compensation
Net increase of capital lent
Cash paid for interest, handling charge and
commission
Cash paid for bonus of guarantee slip
Cash paid to/for staff 2,057,290.81 960,468.61
Taxes paid 3,409,230.56 1,600,617.38
Other cash paid concerning operating
1,693,745.77 3,264,163.25
activities
Subtotal of cash out-flow arising from
126,951,396.65 299,320,006.23
operation activity
Net cash flow arising from operating
-29,196,176.31 -7,545,878.64
activities
II. Cash flows arising from investing
activities:
Cash received from recovering investment
Cash received from investment income
Net cash received from disposal of fixed,
intangible and other long-term assets
Net cash received from disposal of
subsidiaries and other units
Other cash received concerning investing
activities
Subtotal of cash in-flow arising from
investment activity
Cash paid for purchasing fixed, intangible
and other long-term assets
Cash paid for investment
Net increase of mortgaged loans
Net cash received from subsidiaries and
other units obtained
Other cash paid concerning investing
activities
Subtotal of cash out-flow arising from
investment activity
Net cash flow arising from investment
activities
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The First Quarterly Report of 2024
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
Other cash received concerning financing
activities
Subtotal of cash in-flow arising from
financing activity
Cash paid for settling debts
Cash paid for dividend and profit
distributing or interest paying
Including: Dividend and profit of minority
shareholder paid by subsidiaries
Other cash paid concerning financing
activities
Subtotal of cash out-flow arising from
financing activity
Net cash flow arising from financing
activities
IV. Influence on cash and cash equivalents
due to fluctuation in exchange rate
V. Net increased amount of cash and cash
-29,196,176.31 -7,545,878.64
equivalent
Add: Balance of cash and cash equivalents
54,148,674.40 50,922,869.35
at the period -begin
VI. Balance of cash and cash equivalents at
24,952,498.09 43,376,990.71
the period -end
（ii）The Company started implementing the updated accounting standards commencing from 2024 and
adjusted the relevant items in the financial statements at the beginning of the very year involved in the
initial implementation of the said standards
□Applicable Not applicable
(iii) Auditors 'Report
Is the First Quarterly Report be audited?
□ Yes √No
The First Quarterly report is not audited.
Board of Directors of Shenzhen China Bicycle Company (Holdings)Co., Ltd.
April 26, 2024
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