The Report for thhe First Quartter of 2016－SShenzhen Chiwwan Wharf Holdings Limited
Shhenzhhen Chhiwan W rf Holddings L ed
T R for thhe Firsst Quaarter o 2016
Disclosed on 27 April 2016
The Report for the First Quarter of 2016－Shenzhen Chiwan Wharf Holdings Limited
Section I Important Statements
The Board of Directors, Supervisory Committee, directors, supervisors and senior management of
Shenzhen Chiwan Wharf Holdings Limited (hereinafter referred to as the “Company”) hereby
guarantee that the information presented in this Report is factual, accurate and complete, and shall
be jointly and severally liable for any false information, misleading statements or material
omissions carried in this Report.
All directors attended the board meeting for the review of this Report.
Board Chairman Shi Wei, Chief Financial Officer Zhang Fang and Financial Manager Li Li hereby
guarantee the factuality, accuracy and completeness of the Financial Report in this Report.
This Report has been prepared in both Chinese and English. Should there be any discrepancies or
misunderstandings between the two versions, the Chinese version shall prevail.
1
The Report for the First Quarter of 2016－Shenzhen Chiwan Wharf Holdings Limited
Section II Financial Results and Changes in Shareholders
I Financial results
Whether the Company performed any retroactive adjustments to or restatement of its accounting data due to changes of accounting
policies or correction of accounting errors
□ Yes √ No
Item January-March 2016 January-March 2015 +/-%
Operating revenues (RMB) 441,414,712.95 407,974,820.55 8.20%
Net profit attributable to shareholders of the Company (RMB) 121,221,004.55 102,580,695.58 18.17%
Net profit attributable to shareholders of the Company after
120,104,236.05 104,753,391.40 14.65%
exceptional profit and loss (RMB)
Net operating cash flow (RMB) 101,594,145.81 161,160,849.20 -36.96%
Basic earnings per share (RMB/share) 0.188 0.159 18.24%
Diluted earnings per share (RMB/share) 0.188 0.159 18.24%
Weighted average return on equity (%) 2.69% 2.46% 0.23%
Item 31 March 2016 31 December 2015 +/-%
Total assets (RMB) 6,908,633,505.09 6,913,772,876.99 -0.07%
Net assets attributable to shareholders of the Company (RMB) 4,560,997,545.10 4,439,600,537.05 2.73%
Exceptional profit and loss
√ Applicable □ Not applicable
Unit: RMB
Item January-March 2016 Note
Profit/loss on disposal of non-current assets (including offset amount of asset impairment
-15,687.35
provisions)
Government grants charged to the profit/loss for the Reporting Period (except for the
government grants closely related to the business of the Company and given at a fixed 199,598.58
quota or amount in accordance with the State’s uniform standards)
Non-operating income and expense other than the above 1,141,517.34
Less: Corporate income tax 83,494.06
Minority interests (after tax) 125,166.01
Total 1,116,768.50 --
In the Reporting Period, the Company did not recognize any recurrent profit/loss item which should have been classified as
exceptional profit/loss according to the relevant definition and examples given in the Explanatory Announcement No. 1 on
Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Profit and Loss.
2
The Report for the First Quarter of 2016－Shenzhen Chiwan Wharf Holdings Limited
II Total number of shareholders at the period-end and shareholdings of top ten shareholders
1. Numbers of common shareholders and preference shareholders with resumed voting rights as well as
shareholdings of top ten shareholders
Unit: share
Total number of common Total number of preference
37,522 (including 27,645 A-shareholders
shareholders at the shareholders with resumed voting 0
and 9,877 B-shareholders)
period-end rights at the period-end (if any)
Shareholdings of top ten shareholders (all non-restricted shareholders)
Shareholding Number of Number of
Nature of
Name of shareholder percentage non-restricted pledged or Type of share
shareholder
(%) shares held frozen shares
CHINA NANSHAN DEVELOPMENT (GROUP) State-owned
32.52% 209,687,067 0 A-share
INC. corporation
Domestic
SHENZHEN MALAI STORAGE CO., LTD. non-state-owned 25.00% 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 GRW FD Foreign
7.43% 47,914,954 Unknown B-share
GTI 5496 corporation
Foreign
CMBNA/STICHTING PENS FND ABP 0.54% 3,463,503 Unknown B-share
corporation
Foreign
GIC PRIVATE LIMITED 0.44% 2,857,377 Unknown B-share
corporation
BBH A/C VANGUARD EMERGING MARKETS Foreign
0.41% 2,617,518 Unknown B-share
STOCK INDEX FUND corporation
Foreign
TEMPLETON ASIAN GROWTH FUND 0.39% 2,534,858 Unknown B-share
corporation
KUMPULAN WANG PERSARAAN Foreign
0.35% 2,253,948 Unknown B-share
(DIPERBADANKAN) corporation
CHINA MERCHANTS SECURITIES (HK) CO., State-owned
0.32% 2,034,462 Unknown B-share
LTD. corporation
China Merchants Holdings (International) Company Limited is a shareholder of
China Nanshan Development (Group) Inc., Shenzhen Malai Storage Co., Ltd. is
a wholly-funded subsidiary of China Merchants Holdings (International)
Related or acting-in-concert parties among the above
Company Limited, and Keen Field Enterprises Limited is also a wholly-funded
shareholders
subsidiary of China Merchants Holdings (International) Company Limited.
Other than that, the Company does not know whether the other non-restricted
shareholders are related parties or not.
Top ten common shareholders conducting securities
N/A
margin trading (if any)
None of the top ten common shareholders or the top ten non-restricted common shareholders of the Company conducted any
promissory repo during the Reporting Period.
2. Total number of preference shareholders and shareholdings of the top ten of them
□ Applicable √ Not applicable
3
The Report for the First Quarter of 2016－Shenzhen Chiwan Wharf Holdings Limited
Section III Significant Events
I Changes in major accounting statement items and financial indicators for the Reporting
Period, as well as reasons for such changes
√ Applicable □ Not applicable
Unit: RMB
January-March January-March
Item +/-% Explanation of change
2016 2015
Main reasons: 1. Increase of profit; 2. Expiration of
the preferential corporate income tax rate for
Dongguan Chiwan Wharf Company Limited, a
Income Tax Expenses 24,716,392.29 18,699,948.73 32%
controlled subsidiary; and 3. Receipt of dividends
by Chiwan Wharf (Hong Kong) Ltd. (an overseas
subsidiary) from its associated enterprise.
Cash payments for goods purchased and services
Net Cash Flow from
101,594,145.81 161,160,849.20 -37% received as well as the payments on behalf of
Operating Activities
others increased.
II Progress of significant events and analysis & explanations on their influence and solutions
□ Applicable √ Not applicable
III Commitments of the Company, its shareholders, actual controller, acquirer, directors,
supervisors, senior management or other related parties fulfilled in the Reporting Period or
ongoing at the period-end
√ Applicable □ Not applicable
Time of
Commitment Type of Period of
Commitment Contents making Fulfillment
maker commitment commitment
commitment
CND Group proposed in
In order to enhance the Mar. 2009 to the
shareholding confidence of Company ,
interests of the management which was reviewed and
and all the shareholders can approved in the general
coincide, CND made a meeting of the Company
Share reform commitment to entrust, in May 2009. The Board
CND Group Other Apr. 2006 Standing
commitment through the general meeting of Directors of the
of the Company, the Board Company was authorized
of Directors of the to formulate and carry out
Company to formulate and an equity incentive plan at
carry out an equity incentive a proper timing according
plan at a proper timing after to applicable laws and
the completion of the share regulations. In Jun. 2014,
division reform according to according to jointly
promulgated by the
State-owned Assets
Supervision and
Administration
Commission of the State
Council and the Ministry
of Finance, as well as
promulgated
by CSRC, the equity
incentive plan could not
be successfully
formulated due to policy
and regulation changes, as
well as 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.
1. Commitments made by
China Merchants Holdings Concerning
(International) about share horizontal
custody; competition, it is
2. Commitment made by promised that
China Merchants Holdings the horizontal
(International) about competition
Commitment
China guaranteeing the issue will be
on horizontal
Merchants independency of the solved through
competition,
Holdings Company; ways such as In the process of
related-party 17 Sept. 2012
(International) asset execution
transactions 3. Commitment made by
Company reorganization in
and capital China Merchants Holdings
Limited the coming 3-5
occupation (International) about
Commitment years. And the
horizontal competition; and other three
in the 4. Commitment made by
acquisition commitments
China Merchants Holdings are subject to the
report or the (International) about
report on share custody
regulating related-party period.
equity changes transactions
1. Commitment made by
Malai Storage about
guaranteeing the
Commitment independency of the
on horizontal Company; Whenever Malai
competition,
2. Commitment made by Storage holds In the process of
Malai Storage related-party 27 Dec. 2012
Malai Storage about the Company’s execution
transactions
horizontal competition; and shares
and capital
occupation 3. Commitment made by
Malai Storage about
regulating related-party
transactions
5
The Report for the First Quarter of 2016－Shenzhen Chiwan Wharf Holdings Limited
CND Group irrevocably and
unconditionally agrees that
if Chiwan Wharf suffers
from any loss, expense,
liability, demanded
compensation or law suit
due to any actual or
potential illegality or
unenforceability in any land
use agreement or relevant 20 Mar. 2011 In the process of
CND Group Other Standing
documents signed or to be execution
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
Other and the recipient person
commitments regarding the aforesaid
made to matters.
minority
shareholders If the Company cannot pay
interest on time, pay
principals upon maturity or
is involved in any violation,
it shall at least take the
following measures: 1. Not
to distribute profit to
shareholders; 2. Suspend Whenever any
capital outlay projects such 18 Oct. 2013 of the corporate
In the process of
The Company Other as significant outward bonds of “13
execution
investments or mergers; 3. Chiwan 01”
Reduce or stop salaries and exists
bonuses for directors and
senior management staff;
and
4. Not to remove the
persons held chiefly
responsible.
Executed on time or not Yes
Explain in detail specific reasons for failing to fulfill
commitment and plan for next step in case of N/A
commitment unfulfilled on time
IV Operating result forecast for January-June 2016
Warning of possible loss or considerable YoY change of the accumulated net profit made during the period-beginning to the end of
the next reporting period according to prediction, as well as explanations on the reasons:
□Applicable √ Not applicable
6
The Report for the First Quarter of 2016－Shenzhen Chiwan Wharf Holdings Limited
V Securities investments
√ Applicable □ Not applicable
Name Profit/loss
Initial Opening Opening Closing Closing
Variety of Code of of Closing in the Accounting Source of
investment number of shareholding number of shareholding
securities securities securiti book value Reporting title securities
cost shares held percentage shares held percentage
es Period
Petroch Available-for-
Corporate
Stock 400032 emical 3,500,000 780,000 0.26% 780,000 0.26% 382,200 - sale financial
shares
A1 assets
Available-for-
Guang Corporate
Stock 400009 27,500 20,000 0.02% 20,000 0.02% 17,000 - sale financial
Jian 1 shares
assets
Corporate
shares
that had
Jiangsu Available-for-
become
Stock 600377 Express 1,120,000 1,000,000 0.02% 1,000,000 0.02% 8,360,000 - sale financial
tradable
way assets
through
share
reform
Total 4,647,500 1,800,000 -- 1,800,000 -- 8,759,200 - -- -
VI Investments in derivative financial instruments
□ Applicable √ Not applicable
No such cases in the Reporting Period.
VII Visits paid to the Company in the Reporting Period for purposes of research,
communication, interview, etc.
√ Applicable □ Not applicable
Date of visit Way of visit Type of visitor Index to main inquiry information
Main inquiry: basic business condition, investments
Phone talks and written and financial condition of the Company;
January-March 2016 inquiry (through the EasyIR Individual Materials provided: brochure of the Company;
platform of SZSE) Index: SZSE EasyIR
(http://irm.cninfo.com.cn/ssessgs/S000022/index.html)
VIII Illegal provision of guarantees for external parties
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IX Occupation of the Company’s funds by the controlling shareholder or its related parties
for non-operating purposes
□ Applicable √ Not applicable
No such cases in the Reporting Period.
7
The Report for the First Quarter of 2016－Shenzhen Chiwan Wharf Holdings Limited
X Progress made on internal control
In the first quarter of 2016, according to the previously-set evaluation standards, the Company evaluated the defects found in the
internal control tests, and then drew up a defect evaluation summary sheet and a rectification plan. Also, according to the results of its
aforesaid work, the Company produced the 2015 annual internal control self-evaluation report, which was later disclosed upon
review and approval at the 5th Meeting of the 8th Board of Directors and the 5th Meeting of the 8th Supervisory Committee.
The Company engaged Deloitte Touche Tohmatsu Certified Public Accountants LLP to audit the effectiveness of its 2015 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 2016. It has renewed the list of the internal control
task group members, formulated the work plan and schedule for internal control in 2016 and determined the subjects and work flows
for the internal control in 2016.
The Company has completed the internal control work in 2015 according to the schedule in the internal control work plan for 2015,
as well as the preparations for its internal control activities in 2016 according to the schedule in the internal control work plan for
2016, with no deviation or delay.
8
The Report for the First Quarter of 2016－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
Shi Wei
Chairman
Shenzhen Chiwan Wharf Holdings Limited
Dated 27 April 2016
9
The Report for the First Quarter of 2016－Shenzhen Chiwan Wharf Holdings Limited
SHENZHEN CHIWAN WHARF HOLDINGS LIMITED
CONSOLIDATED AND COMPANY BALANCE SHEET
FOR THE MONTH ENDED 31 MARCH 2016
(All amounts in RMB Yuan unless otherwise stated)
[English translation for reference only]
31-Mar.-2016 31- Dec.- 2015 31-Mar.-2016 31-Dec.- 2015
ASSETS
Consolidated Consolidated Company Company
Current Assets
Currency funds 668,171,726.50 683,138,123.66 364,008,331.41 331,615,767.60
Notes receivable 2,227,000.00 3,327,000.00 - -
Accounts receivable 265,387,429.70 189,016,564.86 21,396,204.00 20,084,782.32
Prepayments 3,136,737.54 2,678,775.41 1,648,238.00 489,500.00
Interest receivable 139,737.13 72,773.05 - -
Dividends receivable - - 217,818,690.44 217,818,690.44
Other receivables 36,716,480.93 14,908,748.44 700,253,387.16 679,107,748.88
Inventories 17,049,491.80 17,300,307.66 928,194.39 1,026,023.04
Other current assets 11,180,051.41 12,889,208.71 533,062.73 487,860.51
Total current assets 1,004,008,655.01 923,331,501.79 1,306,586,108.13 1,250,630,372.79
Non-current Assets
Available-for-sale financial assets 22,269,200.00 22,659,200.00 22,269,200.00 22,659,200.00
Long-term receivables - - 11,004,284.75 11,004,284.75
Long-term equity investments 1,401,989,003.77 1,447,024,975.16 1,982,374,741.18 2,000,153,426.29
Investment property 26,517,300.22 26,747,795.38 16,213,704.37 16,358,585.53
Fixed assets 3,165,272,030.23 3,213,180,964.08 187,888,443.28 192,230,359.90
Construction in progress 22,151,549.83 22,222,084.78 2,279,126.24 1,945,894.40
Intangible assets 1,037,477,447.79 1,046,896,621.98 64,369,499.52 65,112,021.93
Goodwill 10,858,898.17 10,858,898.17 - -
Long-term prepaid expenses 56,520,428.79 57,241,809.97 4,308,170.24 4,391,427.41
Deferred tax assets 11,274,320.82 11,274,320.82 - -
Other non-current assets 150,294,670.46 132,334,704.86 - -
Total non-current assets 5,904,624,850.08 5,990,441,375.20 2,290,707,169.58 2,313,855,200.21
TOTAL ASSETS 6,908,633,505.09 6,913,772,876.99 3,597,293,277.71 3,564,485,573.00
10
The Report for the First Quarter of 2016－Shenzhen Chiwan Wharf Holdings Limited
SHENZHEN CHIWAN WHARF HOLDINGS LIMITED
CONSOLIDATED AND COMPANY BALANCE SHEET
FOR THE MONTH ENDED 31 MARCH 2016(CONTINUE)
(All amounts in RMB Yuan unless otherwise stated)
[English translation for reference only]
LIABILITIES AND 31-Mar.-2016 31- Dec.- 2015 31-Mar.-2016 31-Dec.- 2015
SHAREHOLDERS' EQUITY Consolidated Consolidated Company Company
Current Liabilities
Short-term borrowings - 141,610,178.37 - -
Accounts payable 89,364,522.08 91,453,838.66 12,115,927.60 15,487,513.65
Advances 46,705,010.17 40,504,130.84 10,000.00 152,681.00
Employee benefits payable 46,678,864.16 77,084,662.63 34,841,539.76 47,533,873.50
Taxes payable 61,109,144.03 48,134,602.74 4,382,197.66 1,571,813.93
Interest payable 30,787,033.46 18,519,838.93 32,151,489.65 20,381,890.98
Dividends payable 88,715,008.17 88,715,008.17 37,608,540.65 37,608,540.65
Other payables 61,694,431.03 76,713,923.82 347,505,534.45 327,263,528.94
Non-current liabilities due within one year 5,282,566.16 5,306,254.17 - -
Other current liabilities 500,000,000.00 500,000,000.00 500,000,000.00 500,000,000.00
Total current liabilities 930,336,579.26 1,088,042,438.33 968,615,229.77 949,999,842.65
Non-current Liabilities
Bonds payable 497,963,835.65 497,764,383.59 497,963,835.65 497,764,383.59
Special payables 34,990,596.50 34,990,596.50 - -
Deferred income 60,220,647.83 61,757,528.45 - -
Deferred tax liabilities 1,810,000.00 1,907,500.00 1,810,000.00 1,907,500.00
Total non-current liabilities 594,985,079.98 596,420,008.54 499,773,835.65 499,671,883.59
TOTAL LIABILITIES 1,525,321,659.24 1,684,462,446.87 1,468,389,065.42 1,449,671,726.24
SHAREHOLDERS' EQUITY
Share capital 644,763,730.00 644,763,730.00 644,763,730.00 644,763,730.00
Capital reserve 165,564,739.15 165,564,739.15 239,043,433.54 239,043,433.54
Other Comprehensive Income (8,182,146.43) (7,889,646.43) 5,530,000.00 5,822,500.00
Special reserve 4,188,259.08 3,719,755.58 587,739.74 1,465,450.61
Surplus reserve 520,074,434.56 520,074,434.56 520,074,434.56 520,074,434.56
Unappropriated profit 3,234,588,528.74 3,113,367,524.19 718,904,874.45 703,644,298.05
Total shareholders' equity attributable
4,560,997,545.10 4,439,600,537.05 2,128,904,212.29 2,114,813,846.76
to equity holders of the parent
Minority interests 822,314,300.75 789,709,893.07 - -
TOTAL SHAREHOLDERS' EQUITY 5,383,311,845.85 5,229,310,430.12 2,128,904,212.29 2,114,813,846.76
TOTAL LIABILITIES AND
6,908,633,505.09 6,913,772,876.99 3,597,293,277.71 3,564,485,573.00
SHAREHOLDERS' EQUITY
11
The Report for the First Quarter of 2016－Shenzhen Chiwan Wharf Holdings Limited
SHENZHEN CHIWAN WHARF HOLDINGS LIMITED
CONSOLIDATED AND COMPANY INCOME STATEMENT
FOR THE THREE MONTHS ENDED MARCH 31 2016
(All amounts in RMB unless otherwise stated)
[English translation for reference only]
Jan.-Mar.2016 Jan.-Mar.2015 Jan.-Mar.2016 Jan.-Mar.2015
Items
Consolidated Consolidated Company Company
Operating income 441,414,712.95 407,974,820.55 49,433,329.05 51,264,224.34
Less: Operating costs (236,654,754.94) (220,905,836.12) (30,085,424.42) (33,755,357.93)
Business taxes and levies (1,792,311.93) (1,958,895.49) (1,033,967.71) (1,107,733.66)
Administrative expenses (40,542,016.58) (44,153,704.09) (16,883,495.99) (20,285,789.26)
Financial (expenses)/income – net (12,952,880.37) (15,761,282.18) (5,414,566.24) (7,927,186.33)
Impairment reversals/(losses) of asset (23,509.36) (118,543.82) - -
Add: Gains from changes in fair values - - - -
Investment income 27,668,676.91 26,165,697.29 18,353,503.92 15,096,185.47
Including: Income from investments in associates and
joint ventures
27,668,676.91 26,165,697.29 18,353,503.92 15,096,185.47
Operating profit 177,117,916.68 151,242,256.14 14,369,378.61 3,284,342.63
Add: Non-operating income 1,663,517.08 376,200.94 1,100,767.39 76,749.33
Less: Non-operating expenses (338,088.51) (52,972.35) (232,526.52) (1.95)
Including: Losses from disposal of non-current assets (337,226.51) (52,970.40) (232,526.52) -
Total Profit 178,443,345.25 151,565,484.73 15,237,619.48 3,361,090.01
Less: Income tax expenses (24,716,392.29) (18,699,948.73) 22,956.92 -
Net profit 153,726,952.96 132,865,536.00 15,260,576.40 3,361,090.01
Net profit attributable to shareholders of the parent 121,221,004.55 102,580,695.58 - -
Profit or loss attributable to minority interests 32,505,948.41 30,284,840.42 - -
Amount of Other Comprehensive Net Income After Tax (292,500.00) 330,000.00 (292,500.00) 330,000.00
Amount of other comprehensive net income after tax
attributable to equity holders of the parent
(292,500.00) 330,000.00 (292,500.00) 330,000.00
(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
reclassified subsequently to profit or loss
(292,500.00) 330,000.00 (292,500.00) 330,000.00
(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
available-for-sale financial assets
(292,500.00) 330,000.00 (292,500.00) 330,000.00
(iii) Translation differences of financial statements
denominated in foreign currencies
- - - -
Amount of other comprehensive net income after tax
attributable to minority shareholders
- - - -
Total comprehensive income 153,434,452.96 133,195,536.00 14,968,076.40 3,691,090.01
Shareholders of the parent 120,928,504.55 102,910,695.58 - -
Minority interests 32,505,948.41 30,284,840.42 - -
Earnings per share
Basic earnings per share 0.188 0.159 - -
Diluted earnings per share 0.188 0.159 - -
12
The Report for the First Quarter of 2016－Shenzhen Chiwan Wharf Holdings Limited
SHENZHEN CHIWAN WHARF HOLDINGS LIMITED
CONSOLIDATED AND COMPANY CASH FLOW STATEMENT
FOR THE THREE MONTHS ENDED MARCH 31 2016
(All amounts in RMB Yuan unless otherwise stated)
[English translation for reference only]
Jan.-Mar.2016 Jan.-Mar. 2015 Jan.-Mar. 2016 Jan.-Mar.2015
Items
Consolidated Consolidated Company Company
1. Cash Flows from Operating Activities
Cash receipts from the sale of goods and the
382,639,583.12 391,741,607.33 49,595,046.08 49,616,657.91
rendering of services
Other cash receipts relating to operating activities 2,851,496.76 13,012,081.58 107,591,863.96 171,478,386.37
Sub-total of cash inflows 385,491,079.88 404,753,688.91 157,186,910.04 221,095,044.28
Cash payments for goods purchased and services
(125,326,979.56) (111,880,273.94) (15,700,632.19) (13,158,272.22)
received
Cash payments to and on behalf of employees (111,137,404.72) (102,833,696.76) (40,373,824.00) (40,718,905.63)
Payments of all types of taxes (20,514,375.57) (20,314,116.41) (1,642,067.82) (3,361,492.06)
Other cash payments relating to operating activities (26,918,174.22) (8,564,752.60) (100,643,978.15) (122,766,461.34)
Sub-total of cash outflows (283,896,934.07) (243,592,839.71) (158,360,502.16) (180,005,131.25)
Net Cash Flow from Operating Activities 101,594,145.81 161,160,849.20 (1,173,592.12) 41,089,913.03
2. Cash Flows from Investing Activities
Cash receipts from investments income 70,034,999.53 - 36,132,189.03 -
Net cash receipts from disposals of fixed assets,
252,412.00 101,600.00 69,000.00 -
intangible assets and other long-term assets
Sub-total of cash inflows 70,287,411.53 101,600.00 36,201,189.03 -
Cash payments to acquire or construct fixed assets,
(44,369,397.91) (23,708,512.48) (2,557,972.75) (350,000.00)
intangible assets and other long-term assets
Sub-total of cash outflows (44,369,397.91) (23,708,512.48) (2,557,972.75) (350,000.00)
Net Cash Flow from Investing Activities 25,918,013.62 (23,606,912.48) 33,643,216.28 (350,000.00)
3. Cash Flows from Financing Activities
Cash receipts from borrowings - - - -
Sub-total of cash inflows - - - -
Cash repayments of borrowings (140,849,560.30) - - -
Cash payments for distribution of dividends or profit
(513,541.36) (77,208,156.09) - -
or interest
Other cash payments relating to financing activities - (75,000.00) - (75,000.00)
Sub-total of cash outflows (141,363,101.66) (77,283,156.09) - (75,000.00)
Net Cash Flow from Financing Activities (141,363,101.66) (77,283,156.09) - (75,000.00)
4. Effect of Foreign Exchange Rate Changes on
(1,115,454.93) 252,274.99 (77,060.35) 137,140.70
Cash and Cash Equivalents
5. Net Increase in Cash and Cash Equivalents (14,966,397.16) 60,523,055.62 32,392,563.81 40,802,053.73
Add: Opening balance of Cash and Cash Equivalents 683,138,123.66 468,635,486.47 331,615,767.60 281,427,034.32
6. Closing Balance of Cash and Cash Equivalents 668,171,726.50 529,158,542.09 364,008,331.41 322,229,088.05
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