Shenzhen Zhongheng Huafa Co., Ltd. The First Quarterly Report 2011(Full Text)
Shenzhen Zhongheng Huafa Co., Ltd.
The First Quarterly Report 2011
(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 Financial Report for the First Quarterly Report of the Company has not been audited by
CPAs.
1.3 Principal of the Company Li Zhongqiu, Person in Charge of Financial Works Jiang Yanjun, and
Person in Charge of Accounting Organ (Accounting Supervisor) Sun Wei hereby confirm that the
Financial Report of the First Quarterly Report is true and complete.
§2. Company Profile
2.1 Main accounting highlights and financial indexes
Unit: RMB
At the end of
At the period-end of the last Changes of
the report
year increase/decrease (%)
period
Total assets (RMB) 747,796,546.57 725,894,326.42 3.02%
Owners equity attributable to
shareholders of the listed company 269,902,941.95 266,564,632.01 1.25%
(RMB)
Share capital (Share) 283,161,227.00 283,161,227.00 0.00%
Net asset per share attributable to
shareholders of listed company 0.95 0.94 1.06%
(RMB/Share)
Changes of
The same period of last year
increase/decrease (%)
In the report
Before After Before After
period
retroactive retroactive retroactive retroactive
adjustment adjustment adjustment adjustment
Total operating income (RMB) 229,257,873.14 137,890,464.87 137,890,464.87 66.26% 66.26%
Net profit attributable to shareholders
3,338,309.94 12,049,390.43 5,147,063.98 -72.29% －35.14%
of the listed company (RMB)
Net cash flow arising from operating
-38,039,203.77 25,509,411.98 25,509,411.98 -249.12% -249.12%
activities (RMB)
Net cash flow arising from operating
-0.13 0.09 0.09 -244.44% -244.44%
activities per share (RMB/Share)
Basic earnings per share
0.0118 0.0427 0.0182 -72.29% －35.14%
(RMB/Share)
Diluted earnings per share
0.0118 0.0427 0.0182 -72.29% －35.14%
(RMB/Share)
Down 3.44 Down
Weighted average return on equity
1.23 4.67 1.95 percentage 0.72percenta
(%) point ge point
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Shenzhen Zhongheng Huafa Co., Ltd. The First Quarterly Report 2011(Full Text)
Weighted average return on equity Down 0.73 Down
after deducting non-recurring gains 1.24 1.97 1.95 percentage 0.71percenta
and losses (%) point ge point
Note: the assets replacement has been done in the first quarterly of 2010 with income of more than
RMB 6.9 million generated. In accordance with the Accounting Standard for Business Enterprises,
the income treated as “Non-operating income”, belongs to the non-recurring gains/losses. During
the auditing work of 2010, the CPA calculated the abovementioned item into Capital reserve”
accordance with the Explanation on Supervise the Execution of Accounting Standard for Business
Enterprises for Listed Company (KJBH[2009] No. 60) issued by CSRC in April 2009, from the
point of discretion principle of accounting. Therefore, exercise retroactive adjustment on the
financial data of the first quarterly of 2010. The data bellowed of the first quarterly report of 2010
was been adjusted.
Item of non-recurring gains/losses
Unit: RMB
Remarks(if
Items of non-recurring gains and losses Amount
applicable)
Governmental subsidy reckoned into current gains
and losses, but closely relevant to the Companys
business except for the governmental subsidy 40,000.00
enjoyed in quota or ration according to the national
general standards
Other non-operating income and expenditure except
1,276.58
for the aforementioned items
Total 41,276.58 -
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
30,674
at the end of report period
Particulars about the shares held by the top ten tradable shareholders with unrestricted conditions
Amount of tradable shares with
Full name of shareholder unrestricted conditions held at Type of shares
the end of report period
Domestically listed foreign
SEG (HONG KONG) CO., LTD. 16,569,560
shares
GOOD HOPE CORNER Domestically listed foreign
13,900,000
INVESTMENTS LTD shares
Jia Wenjun 1,184,432 RMB ordinary shares
Domestically listed foreign
BINGHUA LIU 876,213
shares
Domestically listed foreign
Li Jianfeng 758,018
shares
Qu Mingfu 694,244 RMB ordinary shares
Domestically listed foreign
Zhu Ming 611,348
shares
Domestically listed foreign
Luo Ya 589,800
shares
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Shenzhen Zhongheng Huafa Co., Ltd. The First Quarterly Report 2011(Full Text)
DBS VICKERS (HONG KONG) Domestically listed foreign
581,150
LTD A/C CLIENTS shares
Domestically listed foreign
Chen Zhuzhan 500,000
shares
§3. Significant Events
3.1 Particulars about material changes in items of main accounting statement and financial
index, and explanations of reasons
√Applicable □Inapplicable
Change of Reasons for changes
Item 2011-3-31 2010-12-31
increae/decrease
Increase of expenditure
Monetary
64,328,259.15 113,686,755.85 -43.42% for purchase due to the
fund
sales soaring
Sales income that with
Note
18,409,607.90 26,574,387.66 -30.72% the way of account
receivable
receivable
Account
249,090,838.94 181,675,191.14 37.11% increase of sales
receivable
Increase of account
Account paid paid in advance for
3,000,586.41 1,505,815.10 99.27%
in advance purchase from sales
soaring
Construction of
warehouse and
Construction dormitory for
12,615,304.90 5,641,008.31 123.64%
in process employees from Wuhan
Hengfa Technology
Co., Ltd.
Short-term turn-over
Short-term
120,563,108.25 66,073,930.00 82.47% capital borrowed for
loans
operational needed
Account Increase of deposit
received in 1,421,286.09 32,473.00 4276.82% received in advance for
advance sales soaring
Taxes paid 2,989,045.51 5,169,117.15 -42.17% Soaring of in-put tax
Jan. – March Jan. – March of Change of Reasons for changes
Item
of 2011 2010 increae/decrease
Total Growth of sales of
operating 229,257,873.14 137,890,464.87 66.26% Wuhan Hengfa
income Technology Co., Ltd
Sales cost increased
Operating
225,527,259.41 132,407,483.84 70.33% along with the soaring
cost
in sales
Sales expenditure
Sales
1,469,381.53 953,612.86 54.09% increased along with
expenses
the soaring sales
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Shenzhen Zhongheng Huafa Co., Ltd. The First Quarterly Report 2011(Full Text)
Tax grants received
Non-operating from Wuhan
101,986.98 61,042.8 67.07%
income Government in the
report period
Net profit
attributable to Sales cost grower than
shareholder of 3,338,309.94 5,147,063.98 -35.14% the growth of sales
parent income
company
Cash paid for
Sales growth and cash
commodity
paid for purchasing
purchased 178,606,493.61 123,108,416.33 45.08%
soaring along with
and labor
higher purchasing cost
received
Sales growth with labor
Cash paid
required increased and
to/for 10,029,980.98 7,416,845.71 35.23%
higher of the salary
employee
base
Cash paid for
purchse of
Warehouse and
fixed assets,
dormitory for
intangible
7,247,439.49 497,171.67 1357.73% employees constructed
assets and
by Wuhan Hengfa
other
Technology Co., Ltd.
long-term
assets
3.2 Analysis and explanation of significant events and their influence and solutions
3.2.1 Particular about Qualified Opinion
□Applicable √Inapplicable
3.2.2 Particular about fund offered to shareholder or its related parties by the Company and
external guarantee with procedure violation
√Applicable □Inapplicable
Among the assets replacements implemented between the Company and controlling shareholder
Wuhan Zhongheng Group from 2009 to 2010, the industry land located in Huafa Road, Gongming
Town, Guangming New Zone of Shenzhen (number of property certificate: SFDZD No. 7226760 and
SFDZD No. 7226763, parcel number: A627-005 and A627-007) belongs to the transferred-out assets
of us ruled in assets replacement plan. Till now the transfer-out procedure of the above lands has
been not fulfilled. In order to solve the idle lands, Wuhan Zhongheng Group entrusted subordinate
wholly owned subsidiary Shenzhen Zhongheng Huafa Technology Co., Ltd to build temporary
warehouses on the above lands. The land ownership still belongs to us; the procedure of application
for construction was conducted in the name of the Company. We paid partial construction accounts
for the above temporary warehouses. Till end of March 31, 2011, the amount paid in advance was
RMB 2.3293 million.
3.2.3 Particular about the significant contract of routine operation signed and implemented
□Applicable √Inapplicable
3.2.4 Other
□Applicable √Inapplicable
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Shenzhen Zhongheng Huafa Co., Ltd. The First Quarterly Report 2011(Full Text)
3.3 Implementations of commitments by the Company, shareholders and actual controller
Commitments make within the report period or persisted to the period by listed company and its
director, supervisor and senior executives, shareholder with over 5 percent shares held and its actual
controller
√Applicable □Inapplicable
Content of
Item of Commitments Promisee Implementation
commitments
Promised that the The commitment has been
Wuhan holding implemented on May 18, 2010;
Zhongheng non-circulating Till end of the report period,
New Science shares of the Wuhan Zhongheng Group
Commitments for Share & Company wont be applied no release procedures on
Merger Reform Technology traded on the restricted shares to Shenzhen
Industrial market within 36 Stock Exchange due to the
Group Co., months since they 116,489,894 shares of the
Ltd. acquired listed Company held in mortgaged
trading right. status.
1. On Jun. 5, 2008, with
examination and approval from
the 3rd temporary meeting of the
Board for 2008, the Company took
cash RMB 27 million buying
relevant assets concerning
Within one year production of injection products
after ownership from Wuhan Zhongheng Group,
transfer for equity and thus the commitment had been
Wuhan purchased: finished;
Zhongheng 1. related assets of 2. In early of May, 2008, the
New Science injection business Company officially started off the
Commitments made in
& in-put to the significant asset restructure work
Acquisition Report or Reports
Technology Company; of purchasing the 70% equities of
on Change in Interests
Industrial 2. 70 percent Wuhan Hengsheng
Group Co., equity of Photoelectricity Industry Co., Ltd.;
Ltd. Hengsheng engaged financial consultant and
Photoelectricity law consultant to carry out earnest
held in-put to the investigation on the restructure
Company. 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 in Material
N/A N/A N/A
Assets Reorganization
Commitments made in issuing N/A N/A N/A
Other commitments (including
N/A N/A N/A
additional commitments)
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Shenzhen Zhongheng Huafa Co., Ltd. The First Quarterly Report 2011(Full Text)
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 Other significant events which need explanations
3.5.1 Particulars about securities investment
□Applicable √Inapplicable
3.5.2 Registration form for receiving research, communication and interview in the report
period
In the report period, there were no receptions from the investors such as spot research, telephone
communications and written enquiries.
3.5.3 Particular about process of internal control
In report period, pursuit to the requirement of Notice of Relevant Work on Pilot Standardized for
Internal Control of Listed Company in Shenzhen Areas (SZJGSZi [2011] No. 31) from Shenzhen
Securities Regulatory Bureau, the Company convene relevant staff for document information
conveying and lay-out work assignment. Set-up a team for standardized the implementation of
internal control; arrange main staff of financial dept. and auditing dept. for training of internal
control construction which was organized by Shenzhen Securities Regulatory Bureau. The Work
Plan for Execution of Standardized Internal Control of the Company was formulated by the
Company. (more details on notice published dated April 19, 2011)
3.6 Particulars about derivatives investment
□Applicable √Inapplicable
3.6.1 Particulars about derivatives investment held at the end of report period
□Applicable √Inapplicable
§4. Appendix
4.1 Balance sheet
Prepared by Shenzhen Zhongheng Huafa Co., Ltd. March 31, 2011 Unit: RMB
Balance at period-end Balance at year-begin
Items
Consolidation Parent Company Consolidation Parent Company
Current assets:
Monetary funds 64,328,259.15 27,763,239.34 113,686,755.85 29,345,694.04
Settlement
provisions
Capital lent
Transaction finance
asset
Notes receivable 18,409,607.90 6,195,364.99 26,574,387.66 2,777,176.74
Accounts receivable 249,090,838.94 54,205,215.53 181,675,191.14 74,524,052.26
Accounts paid in
3,000,586.41 321,407.82 1,505,815.10
advance
Insurance receivable
Reinsurance
receivables
Contract reserve of
reinsurance receivable
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Shenzhen Zhongheng Huafa Co., Ltd. The First Quarterly Report 2011(Full Text)
Interest receivable
Dividend receivable
Other receivables 21,088,090.89 54,999,548.47 17,233,030.06 50,283,251.74
Purchase restituted
finance asset
Inventories 74,703,742.70 2,771,554.67 74,479,853.17 2,771,554.67
Non-current asset
due within one year
Other current assets
Total current assets 430,621,125.99 146,256,330.82 415,155,032.98 159,701,729.45
Non-current assets:
Granted loans and
advances
Finance asset
available for sales
Held-to-maturity
investment
Long-term account
receivable
Long-term equity
184,708,900.00 184,708,900.00
investment
Investment real
37,567,425.74 37,567,425.74 37,979,444.15 37,979,444.15
estate
Fixed assets 204,939,808.47 117,437,318.02 204,623,451.74 118,466,024.39
Construction in
12,615,304.90 1,273,356.00 5,641,008.31 1,273,356.00
progress
Engineering
material
Disposal of fixed
asset
Productive
biological asset
Oil and gas asset
Intangible assets 53,175,063.28 5,858,220.67 53,426,885.35 5,858,220.67
Expense on
Research and
Development
Goodwill
Long-term expenses
2,002,539.30 2,002,539.30 2,193,225.00 2,193,225.00
to be apportioned
Deferred income tax
6,875,278.89 7,431,752.66 6,875,278.89 7,431,752.66
asset
Other non-current
asset
Total non-current asset 317,175,420.58 356,279,512.39 310,739,293.44 357,910,922.87
Total assets 747,796,546.57 502,535,843.21 725,894,326.42 517,612,652.32
Current liabilities:
Short-term loans 120,563,108.25 66,073,930.00
Loan from central
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Shenzhen Zhongheng Huafa Co., Ltd. The First Quarterly Report 2011(Full Text)
bank
Absorbing deposit
and interbank deposit
Capital borrowed
Transaction
financial liabilities
Notes payable 32,027,550.94 31,992,283.10
Accounts payable 101,303,338.38 9,072,087.25 125,758,949.05 21,908,611.35
Accounts received
1,421,286.09 198,202.19 32,473.00 2,373.00
in advance
Selling financial
asset of repurchase
Commission charge
and commission payable
Wage payable 2,380,653.69 563,889.69 3,265,665.51 565,169.69
Taxes payable 2,989,045.51 10,763,933.26 5,169,117.15 10,729,506.76
Interest payable
Dividend payable
Other accounts
12,397,426.13 15,077,880.86 17,667,880.97 14,027,951.25
payable
Reinsurance
payables
Insurance contract
reserve
Security trading of
agency
Security sales of
agency
Non-current
liabilities due within 1
year
Other current
liabilities
Total current liabilities 273,082,408.99 35,675,993.25 249,960,298.78 47,233,612.05
Non-current liabilities:
Long-term loans 199,815,800.00 199,815,800.00 204,374,000.00 204,374,000.00
Bonds payable
Long-term account
payable
Special accounts
payable
Projected liabilities 4,995,395.63 4,995,395.63 4,995,395.63 4,995,395.63
Deferred income tax
liabilities
Other non-current
liabilities
Total non-current
204,811,195.63 204,811,195.63 209,369,395.63 209,369,395.63
liabilities
Total liabilities 477,893,604.62 240,487,188.88 459,329,694.41 256,603,007.68
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Shenzhen Zhongheng Huafa Co., Ltd. The First Quarterly Report 2011(Full Text)
Owners equity (or
shareholders equity):
Paid-in capital (or
283,161,227.00 283,161,227.00 283,161,227.00 283,161,227.00
share capital)
Capital public
109,496,837.33 109,496,837.33 109,496,837.33 109,496,837.33
reserve
Less: Inventory shares
Reasonable reserve
Surplus public
77,391,593.25 77,391,593.25 77,391,593.25 77,391,593.25
reserve
Provision of general
risk
Retained profit -200,146,715.63 -208,001,003.25 -203,485,025.57 -209,040,012.94
Balance difference
of foreign currency
translation
Total owners equity
attributable to parent 269,902,941.95 262,048,654.33 266,564,632.01 261,009,644.64
company
Minority interests
Total owners equity 269,902,941.95 262,048,654.33 266,564,632.01 261,009,644.64
Total liabilities and
747,796,546.57 502,535,843.21 725,894,326.42 517,612,652.32
owners equity
4.2 Profit statement
Prepared by Shenzhen Zhongheng Huafa Co., Ltd. Jan.-Mar. 2011 Unit: RMB
Amount in this period Amount in last period
Items
Consolidation Parent Company Consolidation Parent Company
I. Total operating income 229,257,873.14 10,335,292.54 137,890,464.87 20,760,450.39
Including: Operating
229,257,873.14 10,335,292.54 137,890,464.87 20,760,450.39
income
Interest income
Insurance gained
Commission charge
and commission income
II. Total operating cost 225,527,259.41 8,969,451.11 132,407,483.84 21,141,217.26
Including: Operating cost 209,590,258.62 833,053.19 119,242,694.86 12,094,801.25
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
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Shenzhen Zhongheng Huafa Co., Ltd. The First Quarterly Report 2011(Full Text)
guarantee slip
Reinsurance
expense
Operating tax and
829,972.33 740,596.30 791,103.86 643,885.18
extras
Sales expenses 1,469,381.53 153,812.58 953,612.86 129,046.62
Administration
9,246,367.59 4,200,739.73 7,936,979.56 5,004,864.63
expenses
Financial expenses 4,391,279.34 3,041,249.31 3,483,092.70 3,268,619.58
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
3,730,613.73 1,365,841.43 5,482,981.03 -380,766.87
(Loss is listed with “-”)
Add: Non-operating
101,986.98 61,986.98 61,042.80 4,060.68
income
Less: Non-operating
60,710.40 60,710.40 108.76 0
expense
Including: Disposal
loss of non-current asset
IV. Total Profit (Loss is
3,771,890.31 1,367,118.01 5,543,915.07 -376,706.19
listed with “-”)
Less: Income tax 433,580.37 328,108.32 396,851.09
V. Net profit (Net loss is
3,338,309.94 1,039,009.69 5,147,063.98 -376,706.19
listed with “-”)
Net profit
attributable to owners 3,338,309.94 1,039,009.69 5,147,063.98 -376,706.19
equity of parent company
Minority
shareholders gains and
losses
VI. Earnings per share
i. Basic earnings per
0.0118 0.0037 0.0182 -0.0013
share
ii. Diluted earnings per
0.0118 0.0037 0.0182 -0.0013
share
VII. Other consolidated
income
VIII. Total consolidated 3,338,309.94 1,039,009.69 5,147,063.98 -376,706.19
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Shenzhen Zhongheng Huafa Co., Ltd. The First Quarterly Report 2011(Full Text)
income
Total consolidated
income attributable to
3,338,309.94 1,039,009.69 5,147,063.98 -376,706.19
owners of parent
company
Total consolidated
income attributable to
minority shareholders
Concerning the enterprise consolidation under common control occurred in the period; the mergered
party realized net profit before consolidation amounting to RMB 2,321,520.24.
4.3 Cash flow statement
Prepared by Shenzhen Zhongheng Huafa Co., Ltd. Jan.-Mar. 2011 Unit: RMB
Amount in this period Amount in last period
Items
Consolidation Parent Company Consolidation Parent Company
I. Cash flows arising
from operating activities:
Cash received from
selling commodities and 173,144,496.62 11,704,623.50 195,696,213.79 112,801,087.74
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
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 tax
40,000.00
received
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Shenzhen Zhongheng Huafa Co., Ltd. The First Quarterly Report 2011(Full Text)
Other cash received
concerning operating 6,978,930.98 4,342,162.69
activities
Subtotal of cash
inflow arising from 180,163,427.60 16,046,786.19 195,696,213.79 112,801,087.74
operating activities
Cash paid for
purchasing commodities
178,606,493.61 1,971,053.08 123,108,416.33 10,689,025.07
and 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
Cash paid for
interest, commission
charge and commission
Cash paid for bonus
of guarantee slip
Cash paid to/for
10,029,980.98 1,201,912.05 7,416,845.71 1,701,327.92
staff and workers
Taxes paid 1,684,246.34 1,489,952.93 2,348,166.80 1,157,384.09
Other cash paid
concerning operating 27,881,910.44 5,133,746.25 37,313,372.97 33,745,947.02
activities
Subtotal of cash
outflow arising from 218,202,631.37 9,796,664.31 170,186,801.81 47,293,684.10
operating activities
Net cash flows
arising from operating -38,039,203.77 6,250,121.88 25,509,411.98 65,507,403.64
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
12
Shenzhen Zhongheng Huafa Co., Ltd. The First Quarterly Report 2011(Full Text)
units
Other cash received
concerning investing
activities
Subtotal of cash
inflow from investing
activities
Cash paid for
purchasing fixed,
7,247,439.49 226,960.00 497,171.67
intangible and other
long-term assets
Cash paid for
14,100,000.00 58,300,000.00
investment
Net increase of
mortgaged loans
Net cash received
from subsidiaries and
other units
Other cash paid
concerning investing
activities
Subtotal of cash
outflow from investing 7,247,439.49 226,960.00 14,597,171.67 58,300,000.00
activities
Net cash flows
arising from investing -7,247,439.49 -226,960.00 -14,597,171.67 -58,300,000.00
activities
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
4,882,920.40 12,000,000.00
loans
Cash received from
issuing bonds
Other cash received
concerning financing
activities
Subtotal of cash
inflow from financing 4,882,920.40 12,000,000.00
activities
Cash paid for
4,558,200.00 4,558,200.00 3,811,800.00 3,811,800.00
settling debts
Cash paid for 4,364,341.32 3,015,184.06 3,483,092.70 3,268,619.58
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Shenzhen Zhongheng Huafa Co., Ltd. The First Quarterly Report 2011(Full Text)
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
outflow from financing 8,922,541.32 7,573,384.06 7,294,892.70 7,080,419.58
activities
Net cash flows
arising from financing -4,039,620.92 -7,573,384.06 4,705,107.30 -7,080,419.58
activities
IV. Influence on cash and
cash equivalents due to
-32,232.52 -32,232.52 -126,267.15 -55,918.19
fluctuation in exchange
rate
V. Net increase of cash
-49,358,496.70 -1,582,454.70 15,491,080.46 71,065.87
and cash equivalents
Add: Balance of
cash and cash equivalents 113,686,755.85 29,345,694.04 27,153,099.93 26,068,936.24
at the period -begin
VI. Balance of cash and
cash equivalents at the 64,328,259.15 27,763,239.34 42,644,180.39 26,140,002.11
period -end
4.4 Auditor’s report
Auditors opinions: Un-audited
§5 Other submitted data
5.1 Statement of the non-operational capital occupation and payment by largest shareholder
and its affiliated
□Applicable √Inapplicable
5.2 Particular about external guarantee with regulation violation
□Applicable √Inapplicable
Board of the Directors of
Shenzhen Zhongheng Huafa Co., Ltd.
April 19, 2011
14
