Report for the First Quarter of 2015－Shenzhen Chiwan Wharf Holdings Limited
Stock code: 000022 /200022 Short form: Chiwan Wharf A/Chiwan Wharf B Announcement No. 2015-029
Shenzhen Chiwan Wharf Holdings Limited
Report for the First Quarter of 2015
Section I. Important Reminders
I. The Board of Directors, the Supervisory Committee, directors, supervisors and senior management staff of
Shenzhen Chiwan Wharf Holdings Limited (hereinafter referred to as “the Company”) warrant that the
information carried in this report is factual, accurate and complete, without any false record, misleading
statement or material omission. And they shall be jointly and severally liable for that.
II. All Directors, Supervisors and Senior Management Staff agreed with and guaranteed the correctness,
accuracy and completeness of the contents of this Report.
III. All directors have attended the board session for reviewing this report.
IV. This quarterly Financial Statements was un-audited.
V. Chairman of the Board Mr. Zheng Shaoping, Chief Financial Officer Mr. Zhang Fang and Financial Manager
Ms. Li Li hereby announce that they guarantee the factuality, accuracy and completeness of the financial
statements enclosed in this report.
VI. This report is prepared in both Chinese and English. Should there be any understanding discrepancy between
the two versions, the Chinese version shall prevail.
Section II. Financial Highlights & Change of Shareholders
I. Financial highlights
Does the Company adjust retrospectively or restate any accounting data of previous periods?
□ Yes √ No
Item Jan.-Mar. 2015 Jan.-Mar. 2014 +/-
Operating income (RMB Yuan) 407,974,820.55 404,266,553.22 0.92%
Net profit attributable to shareholders of the parent (RMB Yuan) 102,580,695.58 106,553,992.04 -3.73%
Net profit attributable to shareholders of the parent after
104,753,391.40 104,705,247.80 0.05%
extraordinary gains and losses (RMB Yuan)
Net cash flows from operating activities (RMB Yuan) 161,160,849.20 147,151,915.58 9.52%
Basic EPS (RMB Yuan/share) 0.159 0.165 -3.64%
Diluted EPS (RMB Yuan/share) 0.159 0.165 -3.64%
Weighted average ROE (%) 2.46% 2.62% -0.16%
Item 31 Mar. 2015 31 Dec. 2014 +/-
Total assets (RMB Yuan) 6,970,995,664.04 6,935,824,199.68 0.51%
Total shareholder’s equity attributable to equity holders of the
4,219,073,377.73 4,115,298,831.59 2.52%
parent (RMB Yuan)
1
Report for the First Quarter of 2015－Shenzhen Chiwan Wharf Holdings Limited
Items and amounts of extraordinary gains and losses
√ Applicable □ Inapplicable
Unit: RMB Yuan
Item 1 Jan. 2015-31 Mar. 2015 Explanation
Profit or loss on disposal of non-current assets (42,845.93)
Government grants recognized in profit or loss 193,262.32
Other non-operating income and expenses other than the above 172,812.20
Tax effects (713,223.75)
Minority interests effects (after tax) (1,782,700.66)
Total (2,172,695.82) --
Explain the reasons if the Company classifies an item as an extraordinary gain/loss according to the definition in
the Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the
Public—Extraordinary Gains and Losses, or classifies any extraordinary gain/loss item mentioned in the said
explanatory announcement as a recurrent gain/loss item
□ Applicable √ Inapplicable
II. Total number of shareholders at the period-end and shareholdings of top 10 shareholders
1. Total number of common shareholders at the period-end and shareholdings of top 10 common
shareholders
Unit: share
Total number of shareholders at the period-end 35,696, with 25,991 being A-share holders, and 9,705 being B-share holders
Shareholdings of top 10 shareholders (all non-restricted shareholders)
Shareholding Number of Number of Type of
Nature of
Name of shareholder percentage non-restricted pledged or frozen shares (A, B,
shareholder
(%) shares held shares H or other)
CHINA NANSHAN DEVELOPMENT State-owned
32.52% 209,687,067 0 A-share
(GROUP) INC. corporation
Ordinary
SHENZHEN MALAI STORAGE CO., LTD. domestic 25% 161,190,933 0 A-share
corporation
Foreign
KEEN FIELD ENTERPRISES LIMITED 8.58% 55,314,208 0 B-share
corporation
CMBLSA RE FTIF TEMPLETON ASIAN Foreign
7.43% 47,914,954 Unknown B-share
GRW FD GTI 5496 corporation
DEUTSCHE BANK Foreign
0.62% 4,008,130 Unknown A-share
AKTIENGESELLSCHAFT corporation
Foreign
CMBNA/STICHTING PENS FND ABP 0.54% 3,463,503 Unknown B-share
corporation
Foreign
GIC PRIVATE LIMITED 0.52% 3,360,777 Unknown B-share
corporation
Foreign
TEMPLETON ASIAN GROWTH FUND 0.41% 2,657,852 Unknown B-share
corporation
BBH A/C VANGUARD EMERGING Foreign
0.40% 2,595,918 Unknown B-share
MARKETS STOCK INDEX FUND corporation
KUMPULAN WANG PERSARAAN Foreign
0.37% 2,368,067 Unknown B-share
(DIPERBADANKAN) corporation
China Merchants Holdings (International) Co., Ltd. (“CMHI”) was a shareholder of
China Nanshan Development (Group) Inc. (“CND Group”), Shenzhen Malai Storage
Explanation on associated relationship or
Co., Ltd. (Malai Storage) was a wholly-funded subsidiary of CMHI, and Keen Field
persons acting in concert among the
Enterprises Limited was also a wholly-funded subsidiary of CMHI. Other than that,
above-mentioned shareholders
the Company does not know whether the other non-restricted shareholders are
related parties or not.
2
Report for the First Quarter of 2015－Shenzhen Chiwan Wharf Holdings Limited
Did any of the Company’s top 10 common shareholders or top 10 non-restricted common shareholders conduct
any buy-back upon agreement in the reporting period?
□ Yes √ No
2. Total number of preferred shareholders at the period-end and shareholdings of top 10 preferred
shareholders
□ Applicable √ Inapplicable
Section III. Significant Events
I. Significant changes in the major accounting statement items and financial indicators for the
reporting period, as well as the reasons for these changes
Unit: RMB Yuan
Item 31 Mar. 2015 31 Dec. 2014 +/-
Non-current liabilities due within 1 year 503,357,253.20 4,997,419.52 9972%
Bonds payable 497,161,643.86 995,110,137.02 -50%
Item Jan.-Mar. 2015 Jan.-Mar. 2014 +/-
Income tax expenses 18,699,948.73 27,546,647.11 -32%
Minority interests income 30,284,840.42 22,698,936.19 33%
Payments of all types of taxes 20,314,116.41 39,685,744.00 -49%
Cash receipts from borrowings - 118,965,000.00 -100%
Cash repayments of borrowings - 118,965,000.00 -100%
Cash payments for distribution of dividends or
77,208,156.09 - -
profit or interest
Non-current liabilities due within 1 year increased mainly because the corporate bonds for 2011 (Phase I)
redeemed in this April according to the board’s resolution were reclassified from bonds payable to this item.
Bonds payable decreased mainly because the corporate bonds for 2011 (Phase I) redeemed in this April according
to the board’s resolution were reclassified from this item to non-current liabilities due within 1 year.
Income tax expenses decreased mainly because non-wholly-funded subsidiary Chiwan Container Terminal Co.,
Ltd. passed the examination in 2015 to be a hi-tech enterprise and enjoy a preferential income tax rate of 15%.
Minority interests income increased mainly because non-wholly-funded subsidiary Chiwan Container Terminal
Co., Ltd. earned more profits.
Payments of all types of taxes decreased because of the time difference of the actual payment of taxes.
Cash receipts from borrowings decreased mainly because bank borrowings were secured in the same period of last
year while there were no such events in the current period.
Cash repayments of borrowings decreased because bank borrowings were repaid in the same period of last year
while there were no such events in the current period.
Cash payments for distribution of dividends or profit or interest increased mainly because the dividends for
minority shareholders were paid in the current period while there were no such events in the same period of last
year.
II. Progress of significant events and analysis & explanations on their influence and solutions
□ Applicable √ Inapplicable
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Report for the First Quarter of 2015－Shenzhen Chiwan Wharf Holdings Limited
III. Commitments made by the Company or any shareholder with a shareholding over 5% in
the reporting period or such commitments made in previous periods but carried down into
the reporting period
√ Applicable □ Inapplicable
Time of
Commitment Period of
Commitment Contents making Fulfillment
maker commitment
commitment
CND Group proposed in Mar. 2009 to the
Company ,
which was reviewed and approved in the
general meeting of the Company in May 2009.
The Board of Directors of the Company was
authorized to formulate and carry out an equity
In order to enhance the shareholding incentive plan at a proper timing according to
confidence of tradable share holders, applicable laws and regulations. In Jun. 2014,
and encourage the core management according to jointly promulgated by the
shareholders can coincide, CND made a State-owned Assets Supervision and
Share reform commitment to entrust, through the Administration Commission of the State
CND Group Apr. 2006 Standing
commitment general meeting of the Company, the Council and the Ministry of Finance, as well
Board of Directors of the Company to as
incentive plan at a proper timing after promulgated by CSRC, the equity incentive
the completion of the share division plan could not be successfully formulated due
reform according to applicable laws and to policy and regulation changes, as well as
regulations. some restrictions. Therefore, the Company has
decided not to formulate and carry out the
equity incentive plan for now. The Board of
Directors will continue to follow and study
relevant policies and regulations, and
reconsider formulating and carrying out a new
equity incentive plan according to the actual
situation of the Company and executing the
decision-making procedure.
Concerning
horizontal
1. Commitments made by China
competition, it is
Merchants Holdings (International)
promised that the
about share custody;
horizontal
2. Commitment made by China
competition issue
China Merchants Holdings (International)
will be solved
Merchants about guaranteeing the independency of
through ways
Holdings the Company; 17 Sept.
such as asset In the process of execution
(International) 3. Commitment made by China 2012
reorganization in
Commitment Company Merchants Holdings (International)
the coming 3-5
in the Limited about horizontal competition; and
years. And the
acquisition 4. Commitment made by China
other three
report or the Merchants Holdings (International)
commitments are
report on about regulating related-party
subject to the
equity changes transactions
share custody
period.
1. Commitment made by Malai Storage
about guaranteeing the independency of
the Company;
Whenever Malai
2. Commitment made by Malai Storage 27 Dec.
Malai Storage Storage holds the In the process of execution
about horizontal competition; and 2012
Company’s shares
3. Commitment made by Malai Storage
about regulating related-party
transactions
Other
commitments
CND Group CND Group irrevocably and 20 Mar. Standing In the process of execution
made to
unconditionally agrees that if Chiwan 2001; 18
Wharf suffers from any loss, expense, Jun. 2003;
4
Report for the First Quarter of 2015－Shenzhen Chiwan Wharf Holdings Limited
liability, demanded compensation or 29 Sept.
law suit due to any actual or potential 2004
illegality or unenforceability in any land
use agreement or relevant documents
signed or to be signed by CND Group
or other related problems, CND Group
promises to give full immunity to the
recipient party of the land use right and
its inheritor and the recipient person
regarding the aforesaid matters.
If the Company cannot pay interest on
minority time, pay principals upon maturity or is
shareholders involved in any violation, it shall at
least take the following measures:
1. Not to distribute profit to Whenever any of
shareholders; 26 Apr. the corporate
2. Suspend capital outlay projects such 2012; 18 bonds of “11
The Company In the process of execution
as significant outward investments or Oct. 2013 Chiwan 01” and
mergers; “13 Chiwan 01”
3. Reduce or stop salaries and bonuses exists
for directors and senior management
staff; and
4. Not to remove the persons held
chiefly responsible.
Executed in
Yes
time or not?
Specific reason
for failing to
fulfill the
commitment Inapplicable
and plan for
the next step
(if any)
IV. Predict the operating results for Jan.-Jun. 2015
Warning of possible loss or considerable YoY change of the accumulated net profit made during the period-begin
to the end of the next reporting period according to prediction, as well as explanations on the reasons:
□ Applicable √ Inapplicable
V. Securities investments
Unit: RMB Yuan
Number of Shareholdin Gain/loss
Initial Number of Shareholding
Variety of Code of Name of shares held g percentage Closing book for Accounting
investment shares held at percentage at Source of stock
securities securities securities at at value reporting title
cost period-begin period-begin
period-end period-end period
Available-for
-sale
Stock 400032 SHA1 3,500,000 780,000 0.26% 780,000 0.26% 382,200 - Corporate shares
financial
assets
Available-for
-sale
Stock 400009 GJ1 27,500 20,000 0.02% 20,000 0.02% 17,000 - Corporate shares
financial
assets
Corporate shares
Available-for
which are
-sale
Stock 600377 NHGS 1,120,000 1,000,000 0.02% 1000000 0.02% 7,740,000 - allowed for
financial
circulation after
assets
share reform
Total 4,647,500 1,800,000 -- 1,800,000 -- 8,139,200 - -- --
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Report for the First Quarter of 2015－Shenzhen Chiwan Wharf Holdings Limited
VI. Shareholdings in other listed companies
□ Applicable √ Inapplicable
No such cases in the reporting period.
VII. Investments in financial derivatives
□ Applicable √ Inapplicable
No such cases in the reporting period.
VIII. Researches, visits and interviews received in the reporting period
Place of Main discussion and materials
Time of reception Way of reception Visitor type Visitor
reception provided by the Company
Basic information of operations
Office of the Telephone and investments of the Company
Jan.-Mar. 2015 Individual Individual investors
Company communication and the financial status of the
Company
IX. Other
The Company’s internal control progress:
In the first quarter of 2015, according to the work plan for internal control, the Company organized and carried out
the self-evaluation of internal control. Via talks and sampling tests, and according to the previously-set evaluation
standards, the office evaluated the defects found, prepared a defect evaluation summary sheet, and then offered
their rectification advice. It then, according to the results of its aforesaid work, prepared the 2014 annual internal
control self-evaluation report, which was later disclosed upon review and approval at the 3rd Session of the 8th
Board of Directors and the 3rd Session of the 8th Supervisory Committee.
The Company engaged Deloitte Touche Tohmatsu Certified Public Accountants LLP to audit the effectiveness of
its 2014 financial reporting internal control. A standard auditor’s report with unqualified opinion was issued by
DDT and later disclosed by the Company.
Currently, the Company is making preparations for its internal control activities in 2015. It has renewed the list of
the internal control task group members, drafted the work plan for internal control in 2015 and determined the
subjects and work flows for the internal control in 2015.
The Company has completed the internal control work in 2014 according to the schedule in the internal control
work plan for 2014, with no difference or delay.
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Report for the First Quarter of 2015－Shenzhen Chiwan Wharf Holdings Limited
Section IV. Financial Statements
I. Financial statements (see attached)
(I) Balance sheet
(II) Income statement
(III) Cash flow statement
II. Auditor’s report
Is this report audited?
□ Yes √ No
For and on behalf of the Board
Zheng Shaoping
Chairman
Shenzhen Chiwan Wharf Holdings Limited
Dated 25 April 2015
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Report for the First Quarter of 2015－Shenzhen Chiwan Wharf Holdings Limited
SHENZHEN CHIWAN WHARF HOLDINGS LIMITED
CONSOLIDATED AND COMPANY BALANCE SHEET
FOR THE MONTH ENDED 31 MARCH 2015
(All amounts in RMB Yuan unless otherwise stated)
31 March 2015 31 December 2014 31 March 2015 31 December
ASSETS
Consolidated Consolidated Company 2014 Company
Current Assets
Currency funds 529,158,542.09 468,635,486.47 322,229,088.05 281,427,034.32
Notes receivable 2,000,000.00 2,500,000.00 - -
Accounts receivable 212,095,324.06 203,641,944.62 15,103,434.46 12,114,724.37
Prepayments 1,863,034.82 1,984,932.73 175,000.00 175,000.00
Interest receivable 65,703.90 183,213.50 - 152,533.34
Dividends receivable - - 218,805,886.23 218,805,886.23
Other receivables 37,020,808.04 42,321,002.73 790,143,795.85 826,175,209.04
Inventories 19,303,414.86 19,090,168.61 836,359.76 824,171.90
Other current assets 12,512,998.23 16,893,412.98 388,830.12 98,303.47
Total current assets 814,019,826.00 755,250,161.64 1,347,682,394.47 1,339,772,862.67
Non-current Assets
Available-for-sale financial assets 21,649,200.00 21,209,200.00 21,649,200.00 21,209,200.00
Long-term receivables - - 11,004,284.75 11,004,284.75
Long-term equity investments 1,519,505,972.34 1,493,340,275.05 2,139,414,337.09 2,124,318,151.59
Investment property 30,727,994.04 31,031,939.45 23,429,045.20 23,668,903.59
Fixed assets 3,267,950,761.65 3,319,843,271.66 180,877,411.46 184,439,928.48
Construction in progress 42,406,284.31 34,582,369.45 3,366,969.65 3,621,969.65
Intangible assets 1,075,876,783.71 950,021,585.10 65,819,287.79 66,559,896.74
Goodwill 10,858,898.17 10,858,898.17 - -
Long-term prepaid expenses 57,357,043.38 58,077,245.85 4,651,367.21 4,871,223.29
Deferred tax assets 22,473,354.16 26,941,859.72 - -
Other non-current assets 108,169,546.28 234,667,393.59 - -
Total non-current assets 6,156,975,838.04 6,180,574,038.04 2,450,211,903.15 2,439,693,558.09
TOTAL ASSETS 6,970,995,664.04 6,935,824,199.68 3,797,894,297.62 3,779,466,420.76
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Report for the First Quarter of 2015－Shenzhen Chiwan Wharf Holdings Limited
SHENZHEN CHIWAN WHARF HOLDINGS LIMITED
CONSOLIDATED AND COMPANY BALANCE SHEET
FOR THE MONTH ENDED 31 MARCH 2015(CONTINUE)
(All amounts in RMB Yuan unless otherwise stated)
[English translation for reference only]
LIABILITIES AND 31 March 2015 31 December 2014 31 March 2015 31 December
SHAREHOLDERS' EQUITY Consolidated Consolidated Company 2014 Company
Current Liabilities
Short-term borrowings - - - -
Notes payable - - - -
Accounts payable 76,681,155.48 77,447,853.13 14,733,439.59 14,948,575.64
Advances 15,810,791.40 31,818,775.21 521,246.79 1,214,888.00
Employee benefits payable 45,952,340.61 69,425,249.36 33,656,296.86 41,375,574.26
Taxes payable 69,277,521.69 66,374,211.86 2,245,300.59 359,758.06
Interest payable 52,120,547.92 33,775,342.43 54,052,855.09 36,181,574.83
Dividends payable 122,622,606.20 199,830,762.29 - -
Other payables 84,184,317.36 85,558,954.41 269,554,625.80 266,554,498.30
Non-current liabilities due within one year 503,357,253.20 4,997,419.52 498,343,013.72 -
Other current liabilities 400,000,000.00 400,000,000.00 400,000,000.00 400,000,000.00
Total current liabilities 1,370,006,533.86 969,228,568.21 1,273,106,778.44 760,634,869.09
Non-current Liabilities
Bonds payable 497,161,643.86 995,110,137.02 497,161,643.86 995,110,137.02
Special payables 45,967,587.66 47,002,997.66 - -
Deferred income 46,667,321.93 47,337,896.36 - -
Deferred tax liabilities 1,655,000.00 1,545,000.00 1,655,000.00 1,545,000.00
Total non-current liabilities 591,451,553.45 1,090,996,031.04 498,816,643.86 996,655,137.02
TOTAL LIABILITIES 1,961,458,087.31 2,060,224,599.25 1,771,923,422.30 1,757,290,006.11
SHAREHOLDERS' EQUITY
Share capital 644,763,730.00 644,763,730.00 644,763,730.00 644,763,730.00
Capital reserve 162,698,555.65 162,698,555.65 204,296,719.24 204,296,719.24
Other Comprehensive Income (8,647,146.43) (8,977,146.43) 5,065,000.00 4,735,000.00
Special reserve 3,083,628.08 2,219,777.52 103,370.66 -
Surplus reserve 520,074,434.56 520,074,434.56 520,074,434.56 520,074,434.56
Unappropriated profit 2,897,100,175.87 2,794,519,480.29 651,667,620.86 648,306,530.85
Total shareholders' equity attributable to
4,219,073,377.73 4,115,298,831.59 2,025,970,875.32 2,022,176,414.65
equity holders of the parent
Minority interests 790,464,199.00 760,300,768.84 - -
TOTAL SHAREHOLDERS' EQUITY 5,009,537,576.73 4,875,599,600.43 2,025,970,875.32 2,022,176,414.65
TOTAL LIABILITIES AND
6,970,995,664.04 6,935,824,199.68 3,797,894,297.62 3,779,466,420.76
SHAREHOLDERS' EQUITY
9
Report for the First Quarter of 2015－Shenzhen Chiwan Wharf Holdings Limited
SHENZHEN CHIWAN WHARF HOLDINGS LIMITED
CONSOLIDATED AND COMPANY INCOME STATEMENT
FOR THE THREE MONTHS ENDED MARCH 31 2015
(All amounts in RMB unless otherwise stated)
[English translation for reference only]
Jan.-Mar.2015 Jan.-Mar.2014 Jan.-Mar.2015 Jan.-Mar.2014
Items
Consolidated Consolidated Company Company
Operating income 407,974,820.5 404,266,553.22 51,264,224.34 37,631,731.84
Less: Operating costs (220,905,836.12) (217,026,811.04) (33,755,357.93) (34,657,162.18)
Business taxes and levies (1,958,895.49) (1,635,682.34) (1,107,733.66) (977,620.18)
Administrative expenses (44,153,704.09) (38,788,865.20) (20,285,789.26) (15,138,152.21)
Financial (expenses)/income – net (15,761,282.18) (20,712,863.67) (7,927,186.33) (7,104,600.31)
Impairment reversals/(losses) of asset (118,543.82) (222,860.96) - -
Add: Gains from changes in fair values - - - -
Investment income 26,165,697.29 26,958,571.17 15,096,185.47 17,172,908.01
Including: Income from investments in associates and
26,165,697.29 26,958,571.17 15,096,185.47 17,172,908.01
joint ventures
Operating profit 151,242,256.14 152,838,041.18 3,284,342.63 (3,072,895.03)
Add: Non-operating income 376,200.94 3,965,786.73 76,749.33 28,913.80
Less: Non-operating expenses (52,972.35) (4,252.57) (1.95) -
Including: Losses from disposal of non-current assets (52,970.40) - - -
Total Profit 151,565,484.73 156,799,575.34 3,361,090.01 (3,043,981.23)
Less: Income tax expenses (18,699,948.73) (27,546,647.11) - (3,282,922.15)
Net profit 132,865,536.00 129,252,928.23 3,361,090.01 (6,326,903.38)
Net profit attributable to shareholders of the parent 102,580,695.58 106,553,992.04 - -
Profit or loss attributable to minority interests 30,284,840.42 22,698,936.19 - -
Amount of Other Comprehensive Net Income After Tax 330,000.00 (202,076.94) 330,000.00 (202,500.00)
Amount of other comprehensive net income after tax
330,000.00 (202,076.94) 330,000.00 (202,500.00)
attributable to equity holders of the parent
(I) Other comprehensive income that will not be
- - - -
reclassified subsequently to profit or loss
(i) Change as a result of remeasurement of the net
- - - -
defined benefit plan liability or asset
(ii) Share of other comprehensive income of the
investee under the equity method that will not be reclassified - - - -
to profit or loss
(II) Other comprehensive income that will be
330,000.00 (202,076.94) 330,000.00 (202,500.00)
reclassified subsequently to profit or loss
(i) Share of other comprehensive income of the
investee under the equity method that will be reclassified to - - - -
profit or loss
(ii) Gains or losses on changes in fair value of
330,000.00 (202,500.00) 330,000.00 (202,500.00)
available-for-sale financial assets
(iii) Translation differences of financial statements
- 423.06 - -
denominated in foreign currencies
Amount of other comprehensive net income after tax
- - - -
attributable to minority shareholders
Total comprehensive income 133,195,536.00 129,050,851.29 3,691,090.01 (6,529,403.38)
Shareholders of the parent 102,910,695.58 106,351,915.10 - -
Minority interests 30,284,840.42 22,698,936.19 - -
Earnings per share
Basic earnings per share 0.159 0.165 - -
Diluted earnings per share 0.159 0.165 - -
10
Report for the First Quarter of 2015－Shenzhen Chiwan Wharf Holdings Limited
SHENZHEN CHIWAN WHARF HOLDINGS LIMITED
CONSOLIDATED AND COMPANY CASH FLOW STATEMENT
FOR THE THREE MONTHS ENDED MARCH 31 2015
(All amounts in RMB Yuan unless otherwise stated)
[English translation for reference only]
Jan.-Mar.2015 Jan.-Mar. 2014 Jan.-Mar. 2015 Jan.-Mar.2014
Items
Consolidated Consolidated Company Company
1. Cash Flows from Operating Activities
Cash receipts from the sale of goods and the
391,741,607.33 424,837,358.90 49,616,657.91 42,584,543.72
rendering of services
Receipts of tax refunds - - - -
Other cash receipts relating to operating activities 13,012,081.58 7,348,726.51 171,478,386.37 131,740,733.04
Sub-total of cash inflows 404,753,688.91 432,186,085.41 221,095,044.28 174,325,276.76
Cash payments for goods purchased and services
(111,880,273.94) (124,290,470.53) (13,158,272.22) (22,308,893.68)
received
Cash payments to and on behalf of employees (102,833,696.76) (101,065,630.59) (40,718,905.63) (33,826,617.24)
Payments of all types of taxes (20,314,116.41) (39,685,744.00) (3,361,492.06) (1,453,919.46)
Other cash payments relating to operating activities (8,564,752.60) (19,992,324.71) (122,766,461.34) (78,298,528.91)
Sub-total of cash outflows (243,592,839.71) (285,034,169.83) (180,005,131.25) (135,887,959.29)
Net Cash Flow from Operating Activities 161,160,849.20 147,151,915.58 41,089,913.03 38,437,317.47
2. Cash Flows from Investing Activities
Cash receipts from disposals and returns of
- - - -
investments
Cash receipts from investments income - 3,334,985.50 - -
Net cash receipts from disposals of fixed assets,
101,600.00 - - -
intangible assets and other long-term assets
Sub-total of cash inflows 101,600.00 3,334,985.50 - -
Cash payments to acquire or construct fixed assets,
(23,708,512.48) (27,783,353.64) (350,000.00) (389,270.50)
intangible assets and other long-term assets
Cash payments to acquire investments - - - -
Sub-total of cash outflows (23,708,512.48) (27,783,353.64) (350,000.00) (389,270.50)
Net Cash Flow from Investing Activities (23,606,912.48) (24,448,368.14) (350,000.00) (389,270.50)
3. Cash Flows from Financing Activities
Cash receipts from borrowings - 118,965,000.00 - -
Sub-total of cash inflows - 118,965,000.00 - -
Cash repayments of borrowings - (118,965,000.00) - -
Cash payments for distribution of dividends or
(77,208,156.09) (1,814,464.82) - -
profit or interest
Other cash payments relating to financing activities (75,000.00) - (75,000.00) -
Sub-total of cash outflows (77,283,156.09) (120,779,464.82) (75,000.00) -
Net Cash Flow from Financing Activities (77,283,156.09) (1,814,464.82) (75,000.00) -
4. Effect of Foreign Exchange Rate Changes on Cash
252,274.99 853,590.05 137,140.70 442,864.51
and Cash Equivalents
5. Net Increase in Cash and Cash Equivalents 60,523,055.62 121,742,672.67 40,802,053.73 38,490,911.48
Add: Opening balance of Cash and Cash
468,635,486.47 715,539,516.48 281,427,034.32 465,329,241.75
Equivalents
6. Closing Balance of Cash and Cash Equivalents 529,158,542.09 837,282,189.15 322,229,088.05 503,820,153.23
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