Shenzhen Zhongheng Huafa Co., Ltd. The Third Quarterly Report For 2010(Full Text)
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Shenzhen Zhongheng Huafa Co., Ltd.
The Third Quarterly Report For 2010
(Full Text)
§1. Important Notes
1.1 Board of Directors and the Supervisory Committee of Shenzhen Zhongheng Huafa Co., Ltd.
(hereinafter referred to as the Company) and its directors, supervisors and senior executives 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.
1.2 The Third Quarterly Financial Report of 2010 has not been audited by CPAs.
1.3 Principal of the Company Li Zhongqiu, Person in Charge of Accounting Works Jiang Yanjun
and Person in Charge of Accounting Organ (Accounting Officer) Sun Wei hereby confirm that the
Financial Report of the Third Quarterly Report is true and complete.
§2. Company Profile
2.1 Main accounting highlights and financial indexes:
Unit: RMB
2010.9.30 2009.12.31 Increase/decrease
scope
Total assets (RMB) 844,395,981.62 756,779,839.48 11.58%
Owners’ equities attributable to the
shareholders of listed company (RMB) 268,638,533.15 251,963,858.81 6.62%
Share capital (Share) 283,161,227.00 283,161,227.00 0.00%
Net assets per share attributable to the
shareholders of listed company
(RMB/Share)
0.949 0.8898 6.65%
July-Sep. 2010
Increase/decrease
over the same
period of the last
year
Jan.-Sep.2010
Increase/decrease
over the same
period of the last
year
Total operating income (RMB) 158,747,714.69 0.25% 525,153,122.53 41.75%
Net profit attributable to the
shareholders of listed company (RMB) -700,822.00 -112.20% 16,674,674.34 65.01%
Net cash flow arising from operating
activities (RMB) - - 59,292,737.50 184.77%
Net cash flow arising from operating
activities per share (RMB/Share) - - 0.209 184.77%
Basic earnings per share (RMB/Share) -0.0025 -112.32% 0.0589 64.99%
Diluted earnings per share
(RMB/Share) -0.0025 -112.32% 0.0589 64.99%
Weighted average return on equity (%) -0.269% Decreased 2.54
percentage points 6.41% Increased 2.41
percentage points
Weighted average return on equity after
deducting non-recurring gains/losses
(%)
-0.268% Decreased 2.56
percentage points 3.64% Decreased 0.37
percentage points
Items of non-recurring gains and losses Amount from year begin to the
end of report period Remarks
Gains and losses from transaction of non-monetary assets 6,902,326.45
Other non-operating income and expenditure beside for the
aforementioned items 286,702.81
Total 7,189,029.26 -Shenzhen Zhongheng Huafa Co., Ltd. The Third Quarterly Report For 2010(Full Text)
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2.2 Total number of shareholders at the end of the report period and shares held by the top
ten shareholders with unrestricted conditions
Unit: Share
Total number of shareholders
at the end of report period 32,944
Particulars about the shares held by the top ten shareholders with unrestricted conditions
Full Name of shareholder Unrestricted shares
held Type of shares
SEG (HONG KONG) CO., LTD. 16,569,560 Domestically listed foreign share
GOOD HOPE CORNER INVESTMENTS LTD 13,900,000 Domestically listed foreign share
JIA WEN JUN 1,230,132 RMB common share
DEUTSCHE BANK AG LONDON 1,029,600 Domestically listed foreign share
BINGHUA LIU 876,213 Domestically listed foreign share
LIU LIAO YUAN 741,900 Domestically listed foreign share
ZHU MING 611,348 Domestically listed foreign share
DBS VICKERS (HONG KONG) LTD A/C CLIENTS 591,150 Domestically listed foreign share
LUO YA 589,800 Domestically listed foreign share
DENG YOU REN 550,000 Domestically listed foreign share
§3. Significant events
3.1 Particulars about material changes in items of main accounting statement and financial
index, and explanations of reasons
√Applicable □Inapplicable
(1) Monetary capital increase 39% over that of period-begin, mainly due to the short-term loans for circulating fund
supplementation increased in this repot period.
(2) Note receivable increase 68% over that of period-begin, mainly due to the growth of sale income in this report
period that increases the note receivable correspondingly.
(3) Account receivable increase 50% over that of period-begin, mainly due to the growth of sale income that
increases the account receivable correspondingly.
(4) Account paid in advance increase 346% over that of period-begin, mainly due to the growth of sale income that
increases the deposit for materials purchased correspondingly.
(5) Other account receivable decrease 67% over that of period-begin, mainly due to the decrease of book-out for
previously account record temporary which was followed with the completion of assets replacement between the
Company and Wuhan Zhongheng New Technology Industry Group Co., Ltd.
(6) Construction in process increase 411% over that of period-begin, mainly due to the increase of engineering
construction project such as the reform project of Gongming Electronic Town.
(7) Long-term deferred expenses decrease 31% over that of period-begin, mainly due to the expenses that partially
amortized in this period.
(8) Short-term loans increase 244% over that of period-begin, mainly due to the short-term bank loans for
circulating fund supplementation increased in this repot period.
(9) Note payable increase 40% over that of period-begin, mainly due to the increase of business order that force the
purchase volume increased than the note payable increased correspondingly.
(10) Account payable increase 132% over that of period-begin, mainly due to the increase of purchased volume that
comes following the growth of business order that increase the account payable correspondingly.
(11) Other account payable decrease 84% over that of period-begin, mainly due to the decrease of book-out for
previously account record temporary which was followed with the completion of assets replacement between the
Company and Wuhan Zhongheng New Technology Industry Group Co., Ltd.
(12) Total operating income increase 42% over that of period-begin, mainly due to the Wuhan Hengfa Technology
Co., Ltd. - wholly-owned subsidiary of the Company, has a dramatically growth in operating income.
(13) Operating cost increase 49% over that of period-begin, mainly due to the increase of order that force the sales
increased.
(14) Non-operating income increase 3326% over that of period-begin, mainly due to the income from assets
replacement.
(15) Non-operating expenditure decrease 82% over that of period-begin, mainly due to the decrease ofShenzhen Zhongheng Huafa Co., Ltd. The Third Quarterly Report For 2010(Full Text)
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non-operating losses.
(16) Net profit increase 65% over that of period-begin, mainly due to: the dramatically growth in net profit was
realized by Wuhan Hengfa Technology Co., Ltd. and gained the profit of assets replacement with separating the
original deficit PCB business.
(17) Cash in-flow from operating activities increase 103% over that of period-begin, mainly due to the growth of
sale income makes the monetary capital increase correspondingly.
(18) Cash out-flow from operating activities increase 44% over that of period-begin, mainly due to the growth of
sales volume that makes the increase of purchased capital expenditure and expenses.
(19)Net cash flow arising from operating activities decrease 185% over that of period-begin, mainly due to the
works on pushing account receivable strongly, and speed up the turn-over period of capital.
(20) Cash paid for purchasing fixed assets, intangible assets and other long-term assets increase 275% over that of
period-begin, mainly due to the increase of fundamental structuring on warehouse and plant.
(21) Cash paid for dividend and profit distributing or interest paying increase 37% over that of period-begin, mainly
due to the increase interest expenditure that resulted from the increasing loans.
3.2 Progress of significant events, their influences, and analysis and explanation of their solutions
3.2.1 Qualified opinion
□Applicable √Inapplicable
3.2.2 Particular about fund offers to controlling shareholders or associated parties and
external guarantee that against the regulation.
□Applicable √Inapplicable
3.2.3 Particular about signing and implementation on significant contracts of ordinary
management.
□Applicable √Inapplicable
3.2.4 Other
□Applicable √Inapplicable
3.3 Implementations of commitments by the Company, shareholders and actual controller
√Applicable □Inapplicable
Commitments Promiser Content of commitments Implementation
Commitments for
Share Merger
Reform
Zhongheng New
Technology
Industry Group
Company
Promised that the holding
non-circulating shares of the
Company won’t be traded on
the market within 36 months
since they acquired listed
trading right.
The commitment has been fulfilled on 18
May 2010. Till the end of this report period,
116,489,894 shares of the Company held are
in the condition of pledged, Wuhan
Zhongheng Group apply no release
procedure to Shenzhen Stock Exchange for
the abovementioned restricted shares yet.
Commitments made
in Acquisition
Report or Reports
on Change in
Interests
Wuhan
Zhongheng New
Technology
Industry Group
Company
After equity ownership
transferring, plans to followed
the items as bellowed within
one year:
1. Transfer relevant assets of
plastic injection into the
Company;
2. Transfer 70% equity of
Wuhan Hengsheng
Photoelectricity Industry Co.,
Ltd. held into the Company.
1. On 5 June 2008, with examination and
approval from the 3rd temporary meeting of
the Board for 2008, the Company took cash
RMB 27 million to buy relevant assets
concerning production of injection products
from Wuhan Zhongheng Group, and thus
fulfilled the commitment;
2. In the first 10 days of May 2008, the
Company officially started off the significant
asset restructure work of purchasing the 70%
equities of Wuhan Hengsheng
Photoelectricity Industry Co., Ltd.; engaged
financial consultant and law consultant to
carry out earnest investigation on the
restructure assets that may be involved, and
negotiated with relevant departments which
were in charge of this. However, due to that
relevant condition was not mature, there
were obstacles in material asset restructure.
Commitments made - - -Shenzhen Zhongheng Huafa Co., Ltd. The Third Quarterly Report For 2010(Full Text)
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in Material Assets
Reorganization
Commitments made
in issuing - - -
Other commitments
(including
additional
commitments)
- - -
3.4 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 √Inapplicable
3.5 Particulars about the other significant events which needed explanations
3.5.1 Particulars about securities investment
□Applicable √Inapplicable
3.5.2 Activities on receiving research, communication and interview in the report period
In the report period, the Company did not receive spot research, telephone communications or
written enquiries from the investors.
3.6 Particulars about derivatives investment
□Applicable √Inapplicable
3.6.1 Particulars about the positions of derivatives investment at the end of report period
□Applicable √Inapplicable
§4. Appendix
4.1 Balance sheet
Prepared by Shenzhen Zhongheng Huafa Co., Ltd. Sep. 30, 2010 Unit: RMB
Balance at Items Consolidation pePriaorde-netn Cd ompany ConsolBidaaltaionnce at yePara-rbeengt iCn ompany
Current assets:
Monetary funds 112,668,284.62 43,679,839.79 81,045,080.98 49,500,363.83
Settlement provisions
Capital lent
Transaction finance
asset
Notes receivable 27,717,411.49 3,166,057.83 16,494,962.28 5,210,693.07
Accounts receivable 297,633,730.60 86,218,535.92 198,525,735.70 189,832,968.64
Accounts paid in
advance 11,344,218.73 1,392,828.71 2,540,752.30 984,065.76
Insurance receivable
Reinsurance receivables
Contract reserve of
reinsurance receivable
Interest receivable
Dividend receivable
Other receivables 32,825,057.95 50,462,130.79 98,540,829.55 130,922,698.28
Purchase restituted
finance asset
Inventories 48,450,680.43 3,752,046.91 46,659,614.06 5,430,049.66Shenzhen Zhongheng Huafa Co., Ltd. The Third Quarterly Report For 2010(Full Text)
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Non-current asset due
within one year
Other current assets
Total current assets 530,639,383.82 188,671,439.95 443,806,974.87 381,880,839.24
Non-current assets:
Granted loans and
advances
Finance asset available
for sales
Held-to-maturity
investment
Long-term account
receivable
Long-term equity
investment 184,608,900.00 38,915,789.00
Investment property 38,592,628.79 38,592,628.79 40,432,444.22 40,432,444.22
Fixed assets 207,094,638.08 120,390,267.25 209,483,513.59 126,119,724.23
Construction in progress 4,161,114.95 4,002,966.55 813,658.48 789,926.79
Engineering material
Disposal of fixed asset
Productive biological
asset
Oil and gas asset
Intangible assets 56,240,490.29 8,112,731.28 54,779,557.90 6,053,471.83
Expense on Research
and Development
Goodwill
Long-term expenses to
be apportioned 1,633,927.25 1,633,927.25 2,375,000.00 2,375,000.00
Deferred income tax
asset 6,033,798.44 6,066,614.89 5,088,690.42 6,066,614.89
Other non-current asset
Total non-current asset 313,756,597.80 363,408,036.01 312,972,864.61 220,752,970.96
Total assets 844,395,981.62 552,079,475.96 756,779,839.48 602,633,810.20
Current liabilities:
Short-term loans 115,099,429.61 12,918,204.61 33,442,212.57 23,570,130.56
Loan from central bank
Absorbing deposit and
interbank deposit
Capital borrowed
Transaction financial
liabilities
Notes payable 25,861,911.47 18,480,655.16
Accounts payable 188,950,848.22 38,354,879.73 81,546,114.17 50,331,249.99
Accounts received in
advance 1,382,505.08 795,916.18 1,762,766.25 1,442,334.29
Selling financial asset of
repurchase
Commission charge and
commission payable
Wage payable 2,461,749.81 535,565.82 2,047,294.58 526,475.34
Taxes payable 6,783,076.84 7,226,378.51 8,828,793.97 9,015,502.25
Interest payable
Dividend payable
Other accounts payable 20,623,283.55 19,045,530.32 132,645,479.98 40,020,152.97
Reinsurance payablesShenzhen Zhongheng Huafa Co., Ltd. The Third Quarterly Report For 2010(Full Text)
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Insurance contract
reserve
Security trading of
agency
Security sales of agency
Non-current liabilities
due within 1 year
Other current liabilities
Total current liabilities 361,162,804.58 78,876,475.17 278,753,316.68 124,905,845.40
Non-current liabilities:
Long-term loans 208,185,800.00 208,185,800.00 219,621,200.00 219,621,200.00
Bonds payable
Long-term account
payable
Special accounts
payable
Projected liabilities 6,208,843.89 6,208,843.89 6,241,463.99 6,241,463.99
Deferred income tax
liabilities
Other non-current
liabilities 200,000.00 200,000.00 200,000.00 200,000.00
Total non-current liabilities 214,594,643.89 214,594,643.89 226,062,663.99 226,062,663.99
Total liabilities 575,757,448.47 293,471,119.06 504,815,980.67 350,968,509.39
Owner’s equity (or
shareholders’ equity):
Paid-in capital (or share
capital) 283,161,227.00 283,161,227.00 283,161,227.00 283,161,227.00
Capital public reserve 104,073,326.94 104,073,326.94 104,073,326.94 104,073,326.94
Less: Inventory shares
Reasonable reserve
Surplus public reserve 77,391,593.25 77,391,593.25 77,391,593.25 77,391,593.25
Provision of general risk
Retained profit -195,987,614.04 -206,017,790.29 -212,662,288.38 -212,960,846.38
Balance difference of
foreign currency translation
Total owner’s equity
attributable to parent
company
268,638,533.15 258,608,356.90 251,963,858.81 251,665,300.81
Minority interests
Total owner’s equity 268,638,533.15 258,608,356.90 251,963,858.81 251,665,300.81
Total liabilities and owner’s
equity 844,395,981.62 552,079,475.96 756,779,839.48 602,633,810.20
4.2 Profit statement in the report period
Prepared by Shenzhen Zhongheng Huafa Co., Ltd. July-Sep. 2010 Unit: RMB
Items ConsolAidmatoiounn t of thiPs apreernito cdo mpany ConsolAidmatoiounn t of lasPt apreernito dco mpany
I. Total operating income 158,747,714.69 21,687,861.70 158,352,663.78 39,274,598.61
Including: Operating income 158,747,714.69 21,687,861.70 158,352,663.78 39,274,598.61
Interest income
Insurance gained
Commission charge and
commission income
II. Total operating cost 158,537,189.00 21,467,979.74 151,990,714.72 35,820,879.81
Including: Operating cost 143,179,705.58 12,537,700.57 136,531,537.49 29,714,024.33Shenzhen Zhongheng Huafa Co., Ltd. The Third Quarterly Report For 2010(Full Text)
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Interest expense
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
Operating tax and extras 753,519.95 661,847.04 436,911.09 325,855.42
Sales expenses 2,916,820.24 420,177.68 1,170,440.68 7,335.04
Administration
expenses 8,005,590.33 5,177,947.96 10,527,902.71 2,691,752.56
Financial expenses 3,681,552.90 2,670,306.49 3,323,922.75 3,081,912.46
Losses of devaluation of
asset
Add: Changing income
of fair value(Loss is listed
with “-”)
Investment income
(Loss is listed with “-”)
Including: Investment
income on affiliated
company and joint venture
Exchange income (Loss
is listed with “-”)
III. Operating profit (Loss
is listed with “-”) 210,525.69 219,881.96 6,361,949.06 3,453,718.80
Add: Non-operating
income 15,959.60 15,016.00 90,337.00 90,337.00
Less: Non-operating
expense 20,049.19 2,500.00 5,891.36 5,871.00
Including: Disposal loss
of non-current asset
IV. Total Profit (Loss is
listed with “-”) 206,436.10 232,397.96 6,446,394.70 3,538,184.80
Less: Income tax
expense 907,258.10 0.00 700,446.79
V. Net profit (Net loss is
listed with “-”) -700,822.00 232,397.96 5,745,947.91 3,538,184.80
Net profit attributable to
owner’s of parent company -700,822.00 232,397.96 5,745,947.91 3,538,184.80
Minority shareholders’
gains and losses
VI. Earnings per share
i. Basic earnings per share -0.0025 0.0008 0.0203 0.0125
ii. Diluted earnings per share -0.0025 0.0008 0.0203 0.0125
VII. Other consolidated
income
VIII. Total consolidated
income -700,822.00 232,397.96 5,745,947.91 3,538,184.80
Total consolidated income
attributable to owners of -700,822.00 232,397.96 5,745,947.91 3,538,184.80Shenzhen Zhongheng Huafa Co., Ltd. The Third Quarterly Report For 2010(Full Text)
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parent company
Total consolidated income
attributable to minority
shareholders
4.3 Profit statement from year-begin to the end of report period
Prepared by Shenzhen Zhongheng Huafa Co., Ltd. Jan.-Sep. 2010 Unit: RMB
Amount i Items Consolidation n thiPsa preenrito Cd ompany ConsolAidmatoiounn t in lasPta preenrito Cd o mpany
I. Total operating income 525,153,122.53 46,576,413.27 370,475,322.72 180,862,015.63
Including: Operating income 525,153,122.53 46,576,413.27 370,475,322.72 180,862,015.63
Interest income
Insurance gained
Commission charge and
commission income
II. Total operating cost 514,940,965.17 46,799,063.35 359,624,586.43 172,623,565.28
Including: Operating cost 469,427,601.57 20,033,515.38 316,949,913.23 148,085,386.28
Interest expense
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
Operating tax and extras 2,247,153.31 1,915,036.01 2,267,627.23 1,975,936.12
Sales expenses 4,086,594.21 661,084.77 4,197,476.22 1,804,306.49
Administration
expenses 24,036,348.73 14,974,146.45 27,349,030.56 12,667,272.60
Financial expenses 11,362,835.29 9,215,280.74 8,860,539.19 8,090,663.79
Losses of devaluation of
asset 3,780,432.06
Add: Changing income
of fair value(Loss is listed
with “-”)
Investment income
(Loss is listed with “-”)
Including: Investment
income on affiliated
company and joint venture
Exchange income (Loss
is listed with “-”)
III. Operating profit (Loss
is listed with “-”) 10,212,157.36 -222,650.08 10,850,736.29 8,238,450.35
Add: Non-operating
income 7,236,123.17 7,166,197.45 211,226.30 3,725,269.18
Less: Non-operating
expense 47,093.91 491.28 256,345.09 256,324.73
Including: Disposal loss
of non-current asset
IV. Total Profit (Loss is
listed with “-”) 17,401,186.62 6,943,056.09 10,805,617.50 11,707,394.80Shenzhen Zhongheng Huafa Co., Ltd. The Third Quarterly Report For 2010(Full Text)
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Less: Income tax
expense 726,512.28 700,446.79
V. Net profit (Net loss is
listed with “-”) 16,674,674.34 6,943,056.09 10,105,170.71 11,707,394.80
Net profit attributable to
owner’s of parent company 16,674,674.34 6,943,056.09 10,105,170.71 11,707,394.80
Minority shareholders’
gains and losses
VI. Earnings per share
i. Basic earnings per share 0.0589 0.0245 0.0357 0.0413
ii. Diluted earnings per share 0.0589 0.0245 0.0357 0.0413
VII. Other consolidated
income
VIII. Total consolidated
income 16,674,674.34 6,943,056.09 10,105,170.71 11,707,394.80
Total consolidated income
attributable to owners of
parent company
16,674,674.34 6,943,056.09 10,105,170.71 11,707,394.80
Total consolidated income
attributable to minority
shareholders
4.4 Cash flow statement from year-begin to the end of report period
Prepared by Shenzhen Zhongheng Huafa Co., Ltd. Jan.-Sep. 2010 Unit: RMB
Amount i Items Consolidation n thiPsa preenrito Cd ompany ConsolAidmatoiounn t in lasPta preenrito Cd o mpany
I. Cash flows arising from
operating activities:
Cash received from
selling commodities and
providing labor services
531,354,059.36 144,643,297.44 240,684,728.69 162,455,583.13
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
Net increase of disposal
of transaction financial asset
Cash received from
interest, commission charge
and commission
Net increase of capital
borrowed
Net increase of returned
business capital
Write-back of taxShenzhen Zhongheng Huafa Co., Ltd. The Third Quarterly Report For 2010(Full Text)
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received
Other cash received
concerning operating
activities
15,136,323.01 37,055,731.04 28,718,421.30 73,643,930.98
Subtotal of cash inflow
arising from operating
activities
546,490,382.37 181,699,028.48 269,403,149.99 236,099,514.11
Cash paid for
purchasing commodities and
receiving labor service
409,453,833.73 30,740,645.84 187,443,134.65 157,068,868.96
Net increase of
customer loans and advances
Net increase of deposits
in central bank and interbank
Cash paid for original
insurance contract
compensation
Cash paid for interest,
commission charge and
commission
Cash paid for bonus of
guarantee slip
Cash paid to/for staff
and workers 23,574,554.27 4,380,469.92 20,193,360.18 9,519,901.42
Taxes paid 7,096,118.11 3,618,741.22 3,809,295.17 3,446,958.35
Other cash paid
concerning operating
activities
47,073,138.76 30,089,943.48 127,902,455.03 122,761,703.87
Subtotal of cash outflow
arising from operating
activities
487,197,644.87 68,829,800.46 339,348,245.03 292,797,432.60
Net cash flows arising
from operating activities 59,292,737.50 112,869,228.02 -69,945,095.04 -56,697,918.49
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 inflow
from investing activities
Cash paid for
purchasing fixed, intangible
and other long-term assets
18,431,756.33 5,172,538.02 4,916,736.06 424,752.86
Cash paid for
investment 14,300,000.00 58,300,000.00 60,636,991.79
Net increase ofShenzhen Zhongheng Huafa Co., Ltd. The Third Quarterly Report For 2010(Full Text)
11
mortgaged loans
Net cash received from
subsidiaries and other units
Other cash paid
concerning investing
activities
2,899,313.79
Subtotal of cash outflow
from investing activities 32,731,756.33 63,472,538.02 7,816,049.85 61,061,744.65
Net cash flows arising
from investing activities -32,731,756.33 -63,472,538.02 -7,816,049.85 -61,061,744.65
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 224,341,494.98 253,481,853.33 253,481,853.33
Cash received from
issuing bonds
Other cash received
concerning financing
activities
Subtotal of cash inflow
from financing activities 224,341,494.98 253,481,853.33 253,481,853.33
Cash paid for settling
debts 154,119,677.94 22,087,325.95 100,919,200.00 100,919,200.00
Cash paid for dividend
and profit distributing or
interest paying
11,267,613.52 9,698,460.50 8,215,802.25 8,215,802.25
Including: Dividend and
profit of minority
shareholder paid by
subsidiaries
Other cash paid
concerning financing
activities
Subtotal of cash outflow
from financing activities 165,387,291.46 31,785,786.45 109,135,002.25 109,135,002.25
Net cash flows arising
from financing activities 58,954,203.52 -31,785,786.45 144,346,851.08 144,346,851.08
IV. Influence on cash and
cash equivalents due to
fluctuation in exchange rate
-69,188.91 -69,188.91
V. Net increase of cash and
cash equivalents 85,515,184.69 17,610,903.55 66,516,517.28 26,517,999.03
Add: Balance of cash
and cash equivalents at the
period -begin
27,153,099.93 26,068,936.24 24,314,654.56 23,236,402.77
VI. Balance of cash and cash
equivalents at the period -end 112,668,284.62 43,679,839.79 90,831,171.84 49,754,401.80Shenzhen Zhongheng Huafa Co., Ltd. The Third Quarterly Report For 2010(Full Text)
12
4.5 Auditor’s report
Auditor’s opinions: Un-audited
Board of the Directors of
Shenzhen Zhongheng Huafa Co., Ltd.
October 26, 2010
