Sino Great Wall Co., Ltd. The First Quarterly Report 2019
Sino Great Wall Co., Ltd.
The First Quarterly Report 2019
April 2019
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Sino Great Wall Co., Ltd. The First Quarterly Report 2019
1 Important Notice
The Board of Directors ,Supervisory Committee, all directors, supervisors and senior executives of the Company
hereby guarantees that there are no misstatement, misleading representation or important omissions in this report
and shall assume joint and several liability for the authenticity, accuracy and completeness of the contents hereof.
Other directors attending the Meeting for annual report deliberation except for the followed:
Name of director absent Title for absent director Reasons for absent Attorney
Jiang Chongguang Independent director Due to work reasons Yu Haichun
Mr.Chen Lue, Person in charge of the Company, Ms.Yang Chunling, Chief financial officer and the Ms. Yang
Chunling, the person in charge of the accounting department (the person in charge of the accounting )hereby
confirm the authenticity and completeness of the financial report enclosed in this Quarterly Report .
II. Basic information about the company
I. Main accounting data and financial indexes
Indicate by tick mark whether the Company needs to retroactively restate any of its accounting data.
□ Yes √ No
Changes of this period
This period Same period of last year over same period of last
year（％）
Operating income（RMB） 152,514,127.64 923,442,740.92 -83.48%
Net profit attributable to the shareholders
-128,964,725.66 218,523,628.75 -159.02%
of the listed company（RMB）
Net profit after deducting of
non-recurring gain/loss attributable to
-128,964,725.66 59,559,955.14 -316.53%
the shareholders of listed company
（RMB）
Cash flow generated by business
24,863,912.37 809,676,459.22 -96.93%
operation, net（RMB）
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Sino Great Wall Co., Ltd. The First Quarterly Report 2019
Basic earning per share(RMB/Share) -0.08 0.13 -161.54%
Diluted gains per
-0.08 0.13 -161.54%
share(RMB/Share)(RMB/Share)
Weighted average ROE(%) -75.37% 9.69% -85.06%
Changes of this
End of this period End of last period period-end over same
period-end of last year(%)
Gross assets（RMB） 9,365,266,921.60 9,603,455,934.89 -2.48%
Net assets attributable to the
shareholders of the listed company 105,937,489.04 235,202,473.51 -54.96%
（RMB）
Items and amount of non-current gains and losses
√ Applicable □ Not applicable
In RMB
Changes of this period-end
End of this period End of last period over same period-end of last
year(%)
Total 0.00 --
For the Company’s non-recurring gain/loss items as defined in the Explanatory Announcement No.1 on
information disclosure for Companies Offering their Securities to the Public-Non-recurring Gains and Losses and
its non-recurring gain/loss items as illustrated in the Explanatory Announcement No.1 on information Disclosure
for Companies offering their securities to the public-non-recurring Gains and losses which have been defined as
recurring gains and losses, it is necessary to explain the reason.
□ Applicable√ Not applicable
None of Non-recurring gain /loss items recognized as recurring gain /loss/items as defined by the information
disclosure explanatory Announcement No.1- Non –recurring gain/loss in the report period.
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Sino Great Wall Co., Ltd. The First Quarterly Report 2019
II.Total Shareholders and Shares Held by Top Ten Shareholders at the End of the Reporting Period
1. About Total Common Shareholders, Total Preference Shareholders with the Voting Power Recovered and the
Shares Held by Top Ten Common Shareholders
In shares
Total preference shareholders with
Total number of common
78,961 the voting power recovered at the 0
shareholders at the period-end
end of the reporting period(if any)
Shares held by the top 10 shareholders
Amount of Pledging or freezing
Properties of Share tradable shares
Shareholder name Quantity Status of the
shareholder proportion % with Conditional Quantity
shares
held
Domestic Natural Pledge 583,454,556
Chen Lue 34.36% 583,454,556 437,590,917
person Freeze 583,454,462
STYLE-SUCCES Foreign legal
5.47% 92,970,910 0
S LIMITED person
Domestic Non-
Union Holdings
State-owned legal 5.18% 87,935,921 0
Co., Ltd.
person
Domestic Natural
He Feiyan 3.23% 54,800,458 0 Freeze 54,800,458
person
Jiutai Fund－
Bank of
Communications
－Jiutai Huitong Other 2.40% 40,696,772 0
No.2 specific
customer asset
management plan
Rich Crown
Foreign legal
Investment Co., 1.37% 23,235,313 0
person
Ltd.
Qinghai Heyi
Domestic Non-
Industry
State-owned legal 0.79% 13,357,084 0 Pledge 13,357,084
Development
person
Co., Ltd.
Domestic Natural
Huang Huaian 0.67% 11,300,000 0
person
Zhang Xubao Domestic Natural 0.38% 6,503,220 0
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Sino Great Wall Co., Ltd. The First Quarterly Report 2019
person
Domestic Natural
Chen Lihong 0.28% 4,775,760 0
person
Shareholding of top 10 shareholders of unrestricted shares
Quantity of unrestricted shares held at the end of the Share type
Name of the shareholder
reporting period Share type Quantity
RMB Common
Chen Lue 145,863,639 145,863,639
shares
Foreign shares
placed in
STYLE-SUCCESS LIMITED 92,970,910 92,970,910
domestic
exchange
RMB Common
Union Holdings Co., Ltd. 87,935,921 87,935,921
shares
RMB Common
He Feiyan 54,800,458 54,800,458
shares
Jiutai Fund－Bank of
Communications－Jiutai Huitong RMB Common
40,696,772 40,696,772
No.2 specific customer asset shares
management plan
Foreign shares
placed in
Rich Crown Investment Co., Ltd. 23,235,313 23,235,313
domestic
exchange
Qinghai Heyi Industry Development RMB Common
13,357,084 13,357,084
Co., Ltd. shares
RMB Common
Huang Huaian 11,300,000 11,300,000
shares
RMB Common
Zhang Xubao 6,503,220 6,503,220
shares
Foreign shares
placed in
Chen Lihong 4,775,760 4,775,760
domestic
exchange
The largest shareholder of Mr. Chen Lue and the Fourth largest shareholder of Ms. He Feiyan
aforesaid are persons acting in concernp; The controlling shareholder of the above-mentioned
Explanation on associated
third shareholder Shenzhen Union Holdings Co.,Ltd. And Sixth shareholder Rich Crown
relationship or concerted action of
Investment Co., Ltd.. Is Union Development Group Ltd., The other tradable shareholders
the above shareholders
neither knew whether there exists associated relationship between them.
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Sino Great Wall Co., Ltd. The First Quarterly Report 2019
Note to the top 10 common
stockholders involved in margin
Nil
financing & securities lending (If
any)
Whether top ten common shareholders or top ten common shareholders with un-restrict shares held have a
buy-back agreement dealing in reporting period.
□ Yes √ No
The top ten common shareholders or top ten common shareholders with un-restrict shares held of the Company
have no buy –back agreement dealing in reporting period.
2.Total number of preferred shareholders and shareholding of top 10 preferred shareholders by the end of
the report period
□ Applicable √Not applicable
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Sino Great Wall Co., Ltd. The First Quarterly Report 2019
III Significant Events
I. Major changes of main accounting statement items and financial indicators in the reporting period, as
well as reasons for the changes
√ Applicable □Not applicable
Same period of the
This period/Year-end previous
Items Changes % Remarks on the change
balance year/Year-beginning
balance
Long-term Loanss - 120000000.00 -100.00% Mainly due to use the same bank to
borrow short-term loans to repay
long-term loans.
Operating income 152514127.64 923442740.92 -83.48% Mainly for the national credit
tightening, the tight capital led to the
company's business contraction, the
project progressed slowly.
Operating cost 129968630.28 694723215.49 -81.29% Mainly due to reduced operating
income
Administration 47113359.52 73133254.43 -35.58% Mainly due to the decrease in operating
expenses shrinkage management personnel
Net profit -128564725.66 218782564.96 -158.76% Mainly due to reduced operating
income
24863912.37 809676459.22 -96.93% Mainly due to the reduction of projects
Net cash flow generated
and the slow progress of projects under
by operation activities
construction
Net cash flow generated - -81805042.30 -100.00% Mainly due to reduced operating
by investment activities shrinkage
Net cash flow generated -64236401.65 -624966136.18 -89.72% Mainly due to the tightening of national
by financing activities credit and the difficulty of loans
II. The progress of significant events and influence, as well as the analysis and explanation on resolving
proposal.
√ Applicable □ Not applicable
1. On February 12, 2018, the Company convened the twenty-ninth meeting of the seventh Board of Directors,
deliberating and adopting a Proposal on Acquisition of Shares of UPL Laos Co., Ltd., according to which, UPL
(MALAYSIA) SDN. BHD. (hereinafter referred to as UPL Malaysia) transfered 30% of shares of UPL Laos Co.,
Ltd. (hereinafter referred to as UPL Laos) to the Company by signing an Agreement of Equity Cooperation on
Laos Vientiane Dongphosy Special Economic Zone Project, UPL Laos entered into a franchise agreement for
50+40 years with Laos Government by cash contribution of USD 10 million and advance payment of USD 20
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Sino Great Wall Co., Ltd. The First Quarterly Report 2019
million for project construction put together as the consideration of acquisition and took full charge of matters of
development of Dongphosy as the franchisee to Dongphosy Special Economic Zone (refer to the Company's
Announcement 2018-020 and 021). On June 12, 2018, the Company agreed with UPL Malaysia on transfer of
10% of shares, hence the Company's shareholding ratio rose to 40%. Whereas the Company is experiencing a
financial difficulty at the moment and has failed to perform duties of advance payment and construction in the
equity agreement and duties in the loan agreement, the Malaysian shareholder UPL Malaysia sent a latter in
request for a return of equity and filed an arbitration to Hong Kong International Arbitration Centre on the dispute
of equity in March 2019. Right now, the Company has hired an arbitrator duly in response to the suit.
2. The Company convened the thirty-seventh meeting of the seventh Board of Directors on September 2, 2018,
planned to invest and found "Yinglonghu Development Co., Ltd." (hereinafter referred to as the Project Company,
whose final name is subject to the name approved in industrial and commercial registration) with Chongqing
Circum-Yinglonghu Industrial Co., Ltd. (hereinafter referred to as Party A) and 7 village committees concerned at
the project location (hereinafter referred to as Party C). The registered capital of the Project Company was RMB
125 million, wherein Party A subscribed capital by earlier input of physical assets worth RMB 23.75 million
(subject to the audited amount) in the Yinglong Project, accounting for 19% of the registered capital; Sino Great
Wall contributed RMB 100 million by currency, accounting for 80% of the registered capital; Party C subscribed
RMB 1.25 million by currency or contribution in kind, accounting for 1% of the registered capital (refer to the
Company's Announcement 2018-104 and 105). At the moment, the Project Company has been registered and
project planning and design are underway.
3. In January 2018, the Company's wholly-owned subsidiary Sino Great Wall Intelligent Real Estate (Zhanjiang)
Co., Ltd. obtained a Reply to Sino Great Wall on EIA Report for Residential Industrialization Base Construction
Project, which was expected to speed up construction of the Company's fabricated intelligent property R&D
center and production base project, facilitate the Company to get involved in the fabricated intelligent property
construction area, add a new profit growth point to the Company and show a positive impact on its future
operation and development. For more details, please refer to Announcement of Voluntary Information Disclosure
on the Company Getting an EIA Reply to Fabricated Intelligent Property R&D Center and Production Base
Construction Project disclosed by the Company on January 4, 2018 (refer to the Company's Announcement
2018-003).Due to the shortage of project funds and the mortgage of production base land to China Bohai Bank,
the project is currently at a standstill.
4. On October 18, 2018, the company received the notice of investigation issued by the China Securities
Regulatory Commission (No: JDC Zi No. 18041). As the company is suspected of violating laws and regulations
in information disclosure, according to the relevant provisions of the Securities Law of the People's Republic of
China, the CSRC has decided to initiate an investigation in the company. On March 6, 2019, the company
received the Shenzhen Securities Regulatory Bureau's Decision on Administrative Supervision Measures (No
2019] 11, No. [2019] 12 , No. [2019] 13 ,No. [2019] 14 , No. [2019] 15, and No. [2019] 16) showing that the
Shenzhen Securities Regulatory Bureau had carried out on-site inspection of the company since May 2018, and
the Shenzhen Securities Regulatory Bureau had filed a case for investigation on the illegal disclosure of relevant
information found in the inspection; In addition, through inspection, it is also found that the company had the
following problems "I. The income cost accounting is not standardized, and expenses are charged through
out-of-account fund accounts; II. It did not disclose the changes in major items in a timely manner, the preparation
of performance forecasts and performance report is not prudent; III. It has capital exchanges of no real business
foundation with a number of companies, and illegal foreign financial assistance; IV. The relevant management
system for raising funds is not perfect; V. Registration management for information insider is not standardized".
The Shenzhen Securities Regulatory Bureau decided to take corrective measures against the company, the
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Sino Great Wall Co., Ltd. The First Quarterly Report 2019
company's relevant directors, senior management personnel, and issue warning letters to Mr. Chen Lue, Mr. Tian
Wei, Mr. Tang Xianyong, Ms. Cui Hongli, Ms. Yang Chunling (see 2018-121, 2019-022,2019-031) In response
to the relevant problems found during the inspection against the company, the company has made serious
rectification in accordance with the matters involved in the Decision on Taking Corrective Measures against Sino
Great Wall Co., Ltd. ([2019] No.11). In addition to the above matters, Shenzhen Securities Regulatory Bureau
requires the company to employ a third party independent agency to conduct special inspections on the problems
of NPP-0057 in Xingang, Qatar, Cambodia Refinery and NAGA Casino Phase II project in Cambodia.
As of the disclosure date of this announcement, the company has not yet received the China Securities Regulatory
Commission's concluding comments or decisions on relevant investigation matters.
5. The company held the sixth meeting of the eighth Board of Directors on April 12, 2019, deliberated and passed
the Proposal on Adjusting the Company's Organizational Structure and agreed to adjust the operating organization
and business structure of the company's headquarters. The company will implement a division system by sections
and set up four operating organizations, including the domestic traditional construction business sector (division),
infrastructure business sector (division), overseas business sector (division), smart housing and medical care
business sector (division). After this adjustment, the organizational structure of the company's headquarters is as
follows: eight functional departments and offices, including the comprehensive office, the finance department and
the human resources department, as well as the above-mentioned four operating institutions (see the company's
announcement No 2019-028 for details).
Description of the website for disclosing
Overview of material matters Date of disclosing
provisional announcements
Progress in the implementation of share repurchase
□ Applicable √ Not applicable
Progress in the implementation of the reduction of the repurchased shares by means of centralized bidding
□ Applicable √ Not applicable
III. Commitments finished in implementation by the Company, shareholders, actual controller, acquirer,
directors, supervisors, senior executives or other related parties in the reporting period and commitments
unfinished in implementation at the end of the reporting period
□ Applicable √ Not applicable
The company has no commitments completed in period and those without completed till lend of the period from
actual controller, shareholders, related parties, purchaser and companies.
IV．Prediction of Business performance for January- June 2019
Estimation of accumulative net profit from the beginning of the year to the end of next report period to be loss
probably or the warning of its material change compared with the corresponding period of the last year and
explanation of reason.
□ Applicable √ Not applicable
V. Investment in securities
□ Applicable √ Not applicable
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Sino Great Wall Co., Ltd. The First Quarterly Report 2019
No securities investment in period.
VI. Investments in derivatives
□ Applicable √ Not applicable
There is no derivative investment during the report period.
VII. The registration form of acceptance of investigation, communication and interview in the report period for
future reference
□ Applicable √ Not applicable
The Period has no research, communication and written inquiry from the investors in the report period.
VIII. Outward Guarantee against the Regulations
□ Applicable √Not applicable
The Company has no external guarantee get out of the line in the Period
IX. Controlling shareholder and its related parties occupying non-business capital of the listed company
□ Applicable √Not applicable
There are no controlling shareholder and its related parties occupying non-business capital of the listed company
in Period
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Sino Great Wall Co., Ltd. The First Quarterly Report 2019
IV. Financial Statement
I. Financial statement
1. Consolidated balance sheet
Prepared by：Sino Great Wall Co., Ltd.
March 31,2019
In RMB
Items March 31,2019 December 31,2018
Current asset：
Monetary fund 556,885,742.35 658,714,886.48
Settlement provision
Outgoing call loan
Transactional financial assets
Financial assets measured at fair value
with variations accounted into current
income account
Derivative financial assets
Notes receivable & account receivable 4,060,925,394.30 4,204,113,048.24
Including： Notes receivable 6,368,520.59 1,518,790.00
Account receivable 4,054,556,873.71 4,202,594,258.24
Prepayments 204,407,463.99 220,261,619.13
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance contracts
receivable
Other account receivable 2,209,542,389.51 2,186,223,361.40
Including：Interest receivable
Dividend receivable
Repurchasing of financial assets
Inventories 726,888,475.46 717,531,578.23
Contract assets
Assets held for sales 105,075,792.00 105,075,792.00
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Sino Great Wall Co., Ltd. The First Quarterly Report 2019
Non-current asset due within 1 year
Other current asset 6,330,776.87 5,795,797.44
Total of current assets 7,870,056,034.48 8,097,716,082.92
Non-current assets：
Loans and payment on other’s behalf
disbursed
Debt investment
Available for sale of financial assets 10,338,500.00 10,338,500.00
Other investment on bonds
Expired investment in possess
Long-term receivable 16,357,545.43 16,708,613.19
Long term share equity investment 106,837,810.83 106,837,810.83
Other equity instruments investment
Other non-current financial assets
Property investment
Fixed assets 151,212,961.16 158,746,947.91
Construction in progress 37,265,289.10 36,697,284.04
Production physical assets
Oil & gas assets
Use right assets
Intangible assets 98,277,114.10 99,921,251.67
Development expenses
Goodwill 27,268,234.53 27,268,234.53
Long-germ expenses to be amortized 5,128,863.32 6,727,688.90
Deferred income tax asset 117,614,775.66 117,983,727.91
Other non-current asset 924,509,792.99 924,509,792.99
Total of non-current assets 1,494,810,887.12 1,505,739,851.97
Total of assets 9,364,866,921.60 9,603,455,934.89
Current liabilities
Short-term loans 2,930,473,637.01 2,862,584,629.01
Loan from Central Bank
Borrowing funds
Transactional financial liabilities
Financial liabilities measured at fair value
with variations accounted into current
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Sino Great Wall Co., Ltd. The First Quarterly Report 2019
income account
Derivative financial liabilities
Notes payable & account payable 1,850,987,386.11 1,926,243,130.15
Advance receipts 500,912,986.89 478,101,743.92
Selling of repurchased financial assets
Deposit taking and interbank deposit
Entrusted trading of securities
Entrusted selling of securities
Employees’ wage payable 94,740,557.10 86,414,858.86
Tax payable 386,100,447.46 393,957,887.52
Other account payable 2,205,090,806.01 2,212,412,970.43
Including：Interest payable 342,803,659.92 280,806,670.49
Dividend payable 8,541,818.64 8,541,818.64
Fees and commissions payable
Reinsurance fee payable
Contract Liabilities
Liabilities held for sales
Non-current liability due within 1 year 975,719,981.55 975,719,981.55
Other current liability
Total of current liability 8,944,025,802.13 8,935,435,201.44
Non-current liabilities：
Reserve fund for insurance contracts
Long-term loan 120,000,000.00
Bond payable 258,411,281.36 254,801,342.47
Including：preferred stock
Sustainable debt
Lease liability
Long-term payable 295,831.04 322,990.35
Long-term remuneration payable to staff
Expected liabilities 2,958,723.15 2,958,723.15
Deferred income
Deferred income tax liability 23,272,047.09 24,369,456.18
Other non-current liabilities
Total non-current liabilities 284,937,882.64 402,452,512.15
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Sino Great Wall Co., Ltd. The First Quarterly Report 2019
Total of liability 9,228,963,684.77 9,337,887,713.59
Owners’ equity
Share capital 1,698,245,011.00 1,698,245,011.00
Other equity instruments
Including：preferred stock
Sustainable debt
Capital reserves -1,298,846,540.07 -1,298,846,540.07
Less：Shares in stock
Other comprehensive income -50,380.95 -50,380.95
Special reserve 20,325,823.62 21,026,082.43
Surplus reserves 84,394,441.23 84,394,441.23
Common risk provision
Retained profit -398,530,865.79 -269,566,140.13
Total of owner’s equity belong to the
105,537,489.04 235,202,473.51
parent company
Minority shareholders’ equity 30,365,747.79 30,365,747.79
Total of owners’ equity 135,903,236.83 265,568,221.30
Total of liabilities and owners’ equity 9,364,866,921.60 9,603,455,934.89
Legal Representative: Chen Lue Person in charge of accounting：Yang Chunling Accounting Dept Leader:Yang Chunling
2.Parent Company Balance Sheet
In RMB
Items March 31, 2019 December 31, 2018
Current asset：
Monetary fund 46,770,672.08 46,778,625.47
Transactional financial assets
Financial assets measured at fair value
with variations accounted into current
income account
Derivative financial assets
Notes receivable & account receivable
Including：Notes receivable
Account receivable
Prepayments
Other account receivable 3,056,514,670.86 2,986,852,664.14
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Sino Great Wall Co., Ltd. The First Quarterly Report 2019
Including：Interest receivable
Dividend receivable 100,000,000.00 100,000,000.00
Inventories
Contract assets
Assets held for sales
Non-current asset due within 1 year
Other current asset 2,643,826.33 2,604,075.38
Total of current assets 3,105,929,169.27 3,036,235,364.99
Non-current assets：
Debt investment
Available for sale of financial assets
Other investment on bonds
Expired investment in possess
Long-term receivable
Long term share equity investment 3,323,211,536.66 3,323,211,536.66
Other equity instruments investment
Other non-current financial assets
Property investment
Fixed assets 32,402.37 36,371.12
Construction in progress
Production physical assets
Oil & gas assets
Use right assets
Intangible assets
Development expenses
Goodwill
Long-germ expenses to be amortized 879,666.67 1,074,666.67
Deferred income tax asset
Other non-current asset 728,328,020.00 728,328,020.00
Total of non-current assets 4,052,451,625.70 4,052,650,594.45
Total of assets 7,158,380,794.97 7,088,885,959.44
Current liabilities
Short-term loans 2,189,866,602.21 2,189,866,602.21
Transactional financial liabilities
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Sino Great Wall Co., Ltd. The First Quarterly Report 2019
Financial liabilities measured at fair value
with variations accounted into current
income account
Derivative financial liabilities
Notes payable & account payable 94,900,000.00 95,000,000.00
Advance receipts
Contract Liabilities
Employees’ wage payable 19,042,896.13 15,016,143.39
Tax payable 97,157,829.11 97,149,029.10
Other account payable 1,469,715,040.31 1,347,473,661.05
Including：Interest payable 293,534,570.40 243,458,030.15
Dividend payable 8,541,818.64 8,541,818.64
Liabilities held for sales
Non-current liability due within 1 year 866,250,000.00 866,250,000.00
Other current liability
Total of current liability 4,736,932,367.76 4,610,755,435.75
Non-current liabilities：
Long-term loan
Bond payable
Including：preferred stock
Sustainable debt
Lease liability
Long-term payable
Long-term remuneration payable to staff
Expected liabilities
Deferred income
Deferred income tax liability
Other non-current liabilities
Total non-current liabilities
Total of liability 4,736,932,367.76 4,610,755,435.75
Owners’ equity
Share capital 1,698,245,011.00 1,698,245,011.00
Other equity instruments
Including：preferred stock
Sustainable debt
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Sino Great Wall Co., Ltd. The First Quarterly Report 2019
Capital reserves 1,237,956,472.37 1,237,956,472.37
Less：Shares in stock
Other comprehensive income
Special reserve
Surplus reserves 26,309,287.00 26,309,287.00
Retained profit -541,062,343.16 -484,380,246.68
Total of owners’ equity 2,421,448,427.21 2,478,130,523.69
Total of liabilities and owners’ equity 7,158,380,794.97 7,088,885,959.44
3.Consolidated Income statement
In RMB
Items Report period Same period of the previous year
I. Income from the key business 152,514,127.64 923,442,740.92
Including：Business income 152,514,127.64 923,442,740.92
Interest income
Insurance fee earned
Fee and commission received
II. Total business cost 281,478,853.30 870,627,801.52
Including：Business cost 129,968,630.28 694,723,215.49
Interest expense
Fee and commission paid
Insurance discharge payment
Net claim amount paid
Net amount of withdrawal of insurance contract
reserve
Insurance policy dividend paid
Reinsurance expenses
Business tax and surcharge 426,847.49 623,963.17
Sales expense 678,202.81 2,926,234.68
Administrative expense 47,113,359.52 73,133,254.43
R & D costs
Financial expenses 100,755,300.95 92,188,683.69
Including：Interest expense 96,918,308.65
Interest income 11,356.21
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Sino Great Wall Co., Ltd. The First Quarterly Report 2019
Asset impairment loss 2,536,512.25 7,032,450.06
Credit impairment loss
Add：Other income
Investment gain（“-”for loss） 13,838,400.15
Including: investment gains from affiliates
Gains from currency exchange
Net exposure hedging income
Changing income of fair value
Income on disposal of assets
III. Operational profit（“-”for loss） -128,964,725.66 66,653,339.55
Add ：Non-operational income 188,488,727.79
Less: Non-operating expense 403,952.94
IV. Total profit(“-”for loss) -128,964,725.66 254,738,114.40
Less：Income tax expenses 35,955,549.44
V. Net profit -128,964,725.66 218,782,564.96
(I) Classification by business continuity
1.Net continuing operating profit
2.Termination of operating net profit
(II) Classification by ownership
Net profit attributable to the owners of parent
-128,964,725.66 218,523,628.75
company
Minority shareholders’ equity 258,936.21
VI. Net after-tax of other comprehensive income -1,305,254.00
Net of profit of other comprehensive income attri -1,305,254.00
butable to owners of the parent company.
（I）Other comprehensive income items that will
not be reclassified into gains/losses in the
subsequent accounting period
1.Re-measurement of defined benefit plans of ch
anges in net debt or net assets
2.Other comprehensive income under the equity
method investee can not be reclassified into profi
t or loss.
3. Changes in the fair value of
investments in other equity instruments
18
Sino Great Wall Co., Ltd. The First Quarterly Report 2019
4. Changes in the fair value of the company’s
credit risks
5.Other
（II）
Other comprehensive income that will be reclassi -1,305,254.00
fied into profit or loss.
1.Other comprehensive income under the equity
method investee can be reclassified into profit or
loss.
2. Changes in the fair value of investments in
other debt obligations
3.Gains and losses from changes in fair value ava
ilable for sale financial assets
4. Other comprehensive income arising from the
reclassification of financial assets
5.Held-to-maturity investments reclassified to ga
ins and losses of available for sale financial asset
s
6. Allowance for credit impairments in
investments in other debt obligations
7. Reserve for cash flow hedges
8.
Translation differences in currency financial stat -1,305,254.00
ements
9.Other
Net of profit of other comprehensive income attri
butable to Minority shareholders’ equity
VII. Total comprehensive income -128,964,725.66 217,477,310.96
Total comprehensive income attributable to the
-128,964,725.66 217,218,374.75
owner of the parent company
Total comprehensive income attributable
258,936.21
minority shareholders
VIII. Earnings per share
（I）Basic earnings per share -0.08 0.13
(II)Diluted earnings per share -0.08 0.13
19
Sino Great Wall Co., Ltd. The First Quarterly Report 2019
The current business combination under common control, the net profits of the combined party before achieved ne
t profit of RMB 0.00, last period the combined party realized RMB0.00.
Legal Representative: Chen Lue Person in charge of accounting：Yang Chunling Accounting Dept Leader:Yang Chunling
4. Income statement of the Parent Company
In RMB
Items Report period Same period of the previous year
I. Revenue 0.00 55,009.01
Including：Business cost 0.00 0.00
Business tax and surcharge
Sales expense 109,539.50
Administrative expense 5,400,355.25 10,136,461.91
R & D costs
Financial expenses 51,281,741.23 20,935,688.04
Including：Interest expenses 51,281,404.49
Interest income 1.26
Asset impairment loss
Credit impairment loss
Add：Other income
Investment gain（“-”for loss）
Including: investment gains from
affiliates
Net exposure hedging income
Changing income of fair value
Income on disposal of assets
II. Operational profit（“-”for loss） -56,682,096.48 -31,126,680.44
Add ：Non-operational income 100,000,000.00
Less：Non -operational expenses
III. Total profit(“-”for loss) -56,682,096.48 68,873,319.56
Less：Income tax expenses 17,218,329.89
IV. Net profit -56,682,096.48 51,654,989.67
1.Net continuing operating profit
2.Termination of operating net profit
V. Net after-tax of other comprehensive
20
Sino Great Wall Co., Ltd. The First Quarterly Report 2019
income
（I）Other comprehensive income items
that will not be reclassified into
gains/losses in the subsequent
accounting period
1.Re-measurement of defined benefit pl
ans of changes in net debt or net assets
2.Other comprehensive income under th
e equity method investee can not be recl
assified into profit or loss.
3. Changes in the fair value of
investments in other equity instruments
4. Changes in the fair value of the
company’s credit risks
5.Other
（II）
Other comprehensive income that will b
e reclassified into profit or loss.
1.Other comprehensive income under th
e equity method investee can be reclassi
fied into profit or loss.
2. Changes in the fair value of
investments in other debt obligations
3.
Gains and losses from changes in fair v
alue available for sale financial assets
4. Other comprehensive income
arising from the reclassification of
financial assets
5.Held-to-maturity investments reclassif
ied to gains and losses of available for s
ale financial assets
6. Allowance for credit impairments
in investments in other debt obligations
7. Reserve for cash flow hedges
8.
Translation differences in currency fina
ncial statements
9.Other
21
Sino Great Wall Co., Ltd. The First Quarterly Report 2019
VI. Total comprehensive income -56,682,096.48 51,654,989.67
VII. Earnings per share
（I）Basic earnings per share -0.03 0.03
(II)Diluted earnings per share -0.03 0.03
5. Consolidated Cash flow statement
In RMB
Items Report period Same period of the previous year
I. Cash flows from operating activities
Cash received from sales of goods or
307,945,763.30 1,294,892,259.80
rending of services
Net increase of customer deposits
and capital kept for brother company
Net increase of loans from central bank
Net increase of inter-bank loans from
other financial bodies
Cash received against original
insurance contract
Net cash received from reinsurance
business
Net increase of client deposit and
investment
Net increase of amount from disposal
financial assets that measured by fair
value and with variation reckoned into
current gains/losses
Cash received from interest,
commission charge and commission
Net increase of inter-bank fund
received
Net increase of repurchasing business
Net cash received by agent in
securities trading
Tax returned
Other cash received from business
21,061,346.20 1,333,621,283.99
operation
Sub-total of cash inflow 329,007,109.50 2,628,513,543.79
22
Sino Great Wall Co., Ltd. The First Quarterly Report 2019
Cash paid for purchasing of
247,625,881.66 747,305,288.81
merchandise and services
Net increase of client trade and
advance
Net increase of savings in central bank
and brother company
Cash paid for original contract claim
Net increase in financial assets held
for trading purposes
Net increase for Outgoing call loan
Cash paid for interest, processing fee
and commission
Cash paid for policy dividend
Cash paid to staffs or paid for staffs 26,697,088.81 71,204,092.00
Taxes paid 3,126,878.25 21,837,224.69
Other cash paid for business activities 26,693,348.41 978,490,479.07
Sub-total of cash outflow from
304,143,197.13 1,818,837,084.57
business activities
Net cash generated from /used in
24,863,912.37 809,676,459.22
operating activities
II. Cash flow generated by investing
Cash received from investment
retrieving
Cash received as investment gains
Net cash retrieved from disposal of
fixed assets, intangible assets, and 1,960.00
other long-term assets
Net cash received from disposal of
3,400,000.00
subsidiaries or other operational units
Other investment-related cash received
Sub-total of cash inflow due to
3,401,960.00
investment activities
Cash paid for construction of fixed
assets, intangible assets and other 4,492,230.41
long-term assets
Cash paid as investment 54,979,539.65
Net increase of loan against pledge
23
Sino Great Wall Co., Ltd. The First Quarterly Report 2019
Net cash received from subsidiaries
8,510,000.00
and other operational units
Other cash paid for investment
17,225,232.24
activities
Sub-total of cash outflow due to
85,207,002.30
investment activities
Net cash flow generated by investment -81,805,042.30
III.Cash flow generated by financing
Cash received as investment 490,000.00
Including: Cash received as investment
490,000.00
from minor shareholders
Cash received as loans 100,400,000.00 560,436,000.00
Cash received from bond placing
Other financing –related cash received
Sub-total of cash inflow from financing
100,400,000.00 560,926,000.00
activities
Cash to repay debts 163,726,400.00 1,088,885,108.28
Cash paid as dividend, profit, or
910,001.65 97,007,027.90
interests
Including: Dividend and profit paid by
subsidiaries to minor shareholders
Other cash paid for financing activities
Sub-total of cash outflow due to
164,636,401.65 1,185,892,136.18
financing activities
Net cash flow generated by financing -64,236,401.65 -624,966,136.18
IV. Influence of exchange rate
alternation on cash and cash -135,682.35 314,848.72
equivalents
V.Net increase of cash and cash
-39,508,171.63 103,220,129.46
equivalents
Add: balance of cash and cash
125,767,796.88 647,222,590.48
equivalents at the beginning of term
VI ..Balance of cash and cash
86,259,625.25 750,442,719.94
equivalents at the end of term
6. Cash Flow Statement of the Parent Company
In RMB
24
Sino Great Wall Co., Ltd. The First Quarterly Report 2019
Items Amount in this period Amount in last period
I.Cash flows from operating activities
Cash received from sales of goods or
rending of services
Tax returned
Other cash received from business
3,013,002.16 2,464,952,362.37
operation
Sub-total of cash inflow 3,013,002.16 2,464,952,362.37
Cash paid for purchasing of
merchandise and services
Cash paid to staffs or paid for staffs 195,459.47
Taxes paid 221,143.85
Other cash paid for business activities 3,010,953.00 2,020,761,746.79
Sub-total of cash outflow from
3,010,953.00 2,021,178,350.11
business activities
Net cash generated from /used in
2,049.16 443,774,012.26
operating activities
II. Cash flow generated by investing
Cash received from investment
retrieving
Cash received as investment gains
Net cash retrieved from disposal of
fixed assets, intangible assets, and
other long-term assets
Net cash received from disposal of
subsidiaries or other operational units
Other investment-related cash received
Sub-total of cash inflow due to
investment activities
Cash paid for construction of fixed
assets, intangible assets and other
long-term assets
Cash paid as investment
Net cash received from subsidiaries
and other operational units
Other cash paid for investment
activities
25
Sino Great Wall Co., Ltd. The First Quarterly Report 2019
Sub-total of cash outflow due to
investment activities
Net cash flow generated by investment
III. Cash flow generated by financing
Cash received as investment
Cash received as loans 210,000,000.00
Cash received from bond placing
Other financing –related ash received
Sub-total of cash inflow from
210,000,000.00
financing activities
Cash to repay debts 620,000,000.00
Cash paid as dividend, profit, or
10,001.65 68,464,021.17
interests
Other cash paid for financing activities
Sub-total of cash outflow due to
10,001.65 688,464,021.17
financing activities
Net cash flow generated by financing -10,001.65 -478,464,021.17
IV. Influence of exchange rate
alternation on cash and cash
equivalents
V.Net increase of cash and cash
-7,952.49 -34,690,008.91
equivalents
Add: balance of cash and cash
23,708,889.90 99,547,899.86
equivalents at the beginning of term
VI ..Balance of cash and cash
23,700,937.41 64,857,890.95
equivalents at the end of term
II Adjustments to the Financial Statements
1. Adjustments to the Financial Statements at the Beginning of the First Execution Year of
any New Standards Governing Financial Instruments, Revenue or Leases
□ Applicable √ Not applicable
2. Retrospective Restatement of Previous Comparative Data due to the First Execution of any New
Standards Governing Financial Instruments or Leases
□ Applicable √ Not applicable
26
Sino Great Wall Co., Ltd. The First Quarterly Report 2019
III. Auditor’ report
Is the First Quarterly Report be audited?
□ Yes √No
The First Quarterly report is not audited.
27
