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深南电B:2021年第一季度报告全文(英文版)2021-04-23  

                                             深圳南山热电股份有限公司 2021 年第一季度报告全文




Shenzhen Nanshan Power Co., Ltd.
 The First Quarterly Report 2021

            2021-031




            April 2021




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                                              深圳南山热电股份有限公司 2021 年第一季度报告全文




                          Section I. Important Notes


Board of Directors and the Supervisory Committee of Shenzhen Nanshan Power

Co., Ltd. (hereinafter referred to as the Company) and its directors, supervisors

and senior executives should guarantee the reality, accuracy and completion of

the quarterly report, there are no any fictitious statements, misleading

statements or important omissions carried in this report, and shall take legal

responsibilities, individual and/or joint.

President Li Xinwei, person in charge of the Company, Director GM Chen

Yuhui, person in charge of accounting works as well as manager Shang Ying

(acting in charge of the financial management department), person in charge of

accounting organ(accounting supervisor) hereby confirm that the Financial

Report of this Quarterly Report is authentic, accurate and complete.

All Directors are attended the Board Meeting for Quarterly Report deliberation.

Concerning the forward-looking statements with future planning involved in the

Semi-Report, they do not constitute a substantial commitment for investors.

Investors are advised to exercise caution of investment risks.

The report has been prepared in both Chinese and English, for any

discrepancies, the Chinese version shall prevail. Please read the full report

seriously.




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                        Section II. Basic Information of the Company

I. Main accounting data and financial indexes

Whether it has retroactive adjustment or re-statement on previous accounting data

□ Yes   √No

                                                                                                             Changes of this period over
                                                    Current Period             Same period of last year
                                                                                                               same period of last year
Operating income (RMB)                                        86,380,557.37               228,717,033.81                        -62.23%
Net profit attributable to shareholders of
                                                          -13,078,849.22                    -14,023,020.62                        -6.73%
the listed company (RMB)
Net profit attributable to shareholders of
                                                          -15,774,423.49                    -19,987,886.90                      -21.08%
the listed company after deducting
non-recurring gains and losses (RMB)
Net cash flow arising from operating
                                                          -38,883,595.50                    22,023,624.41                      -276.55%
activities (RMB)

Basic earnings per share (RMB/Share)                                -0.0217                       -0.0233                         -6.73%
Diluted earnings per share (RMB/Share)                              -0.0217                       -0.0233                         -6.73%

Weighted average ROE                                                -0.64%                         -0.70%                         -9.12%

                                                                                                             Changes of this period-end
                                              At the end of the reporting
                                                                                At the end of last year      over same period-end of last
                                                        period
                                                                                                                        year
Total assets (RMB)                                      2,764,352,665.89                3,020,830,930.06                          -8.49%
Net assets attributable to shareholder of
                                                                                                                                  -0.64%
listed company (RMB)                                    2,041,662,998.42                2,054,741,847.64

Total share capital of the Company as of the previous trading day before disclosure:

Total share capital of the Company as of the previous trading day
                                                                                                                             602,762,596
before disclosure(Share)

Fully diluted earnings per share based on new share capital

Preferred stock dividend paid                                                                                                        0.00

Fully diluted earnings per share based on new share
                                                                                                                                 -0.0217
capital(RMB/Share)
Items of non-recurring gains and losses
√ Applicable   □ Not applicable

                                                                                                                                  In RMB
                                                                      Amount from year-begin to
                                Item                                                                                 Note
                                                                               period-end

Gains/losses from the disposal of non-current asset (including the                       950,379.70


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                                                                               深圳南山热电股份有限公司 2021 年第一季度报告全文


write-off that accrued for impairment of assets)

Governmental subsidy calculated          into current gains       and
losses(while closely related with the normal business of the                                             Amortization     of   government
                                                                                        1,763,464.38
Company, excluding the fixed-amount or fixed-proportion                                                  subsidy related to assets
governmental subsidy according to the unified national standard)

Other non-operating income and expenditure except for the
                                                                                            -10,000.00
aforementioned items

Less: impact on income tax

        Impact on minority shareholders’ equity (post-tax)                                   8,269.81

Total                                                                                   2,695,574.27                      --

Concerning the extraordinary profit (gain)/loss defined by Q&A Announcement No.1 on Information Disclosure for Companies
Offering Their Securities to the Public --- Extraordinary Profit/loss, and the items defined as recurring profit (gain)/loss according to
the lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their
Securities to the Public --- Extraordinary Profit/loss, explain reasons

□ Applicable √ Not applicable


II. Total numbe r of shareholders at the end of this report period and top ten shareholders

1. Total common and preferred stockholders with voting rights recover and the top ten share-holding

                                                                                                                                     In Share

                                                            Total preferred stockholders with
Total common shareholders at the
                                                   46,202 voting rights recover at the end of                                               0
end of report period
                                                            report period (if applicable)

                                                          Top ten share-holding

                                                                                   Amount of             Number of share pledged/frozen
  Shareholder’s        Nature of         Proportion of     Amount of shares
                                                                                  lock-up shares
        name           shareholder         shares held             held                                  State of share        Amount
                                                                                       held

HONG KONG
NAM HOI            Overseas legal
                                                   15.28%          92,123,248
(INTERNATION person
AL) LTD.

Shenzhen
Guangju            State-owned legal
                                                   12.22%          73,666,824
Industrial Co.,    person
Ltd.

Shenzhen Energy State-owned legal
                                                   10.80%          65,106,130
Group Co., Ltd.    person




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                                                                         深圳南山热电股份有限公司 2021 年第一季度报告全文


BOCI
                    Overseas legal
SECURITIES                                      2.49%         14,991,882
                    person
LIMITED

                    Domestic nature
Zeng Ying                                       1.19%          7,159,600
                    person

China Merchants
                    State-owned legal
Securities H.K.                                 1.04%          6,247,928
                    person
Co., Ltd.

LI SHERYN           Overseas nature
                                                0.97%          5,825,490
ZHAN MING           person

Meiyi Investment Domestic non
                                                0.87%          5,218,000
Property Co., Ltd. state legal person

Haitong
International
Securities          Overseas legal
                                                0.65%          3,909,357
Company             person
Limited-Account
Client

Guosen Securities
(Hong Kong)         Overseas legal
                                                0.61%          3,651,901
Brokerage Co.,      person
Ltd.

                                        Top ten shareholders with unrestricted shares held

                                                                                                          Type of shares
          Shareholder’s name                  Amount of unrestricted shares held
                                                                                                       Type           Amount

                                                                                              Domestically
HONG KONG NAM HOI
                                                                                 92,123,248 listed foreign                 92,123,248
(INTERNATIONAL) LTD.
                                                                                              shares

Shenzhen Guangju Industrial Co.,                                                              RMB common
                                                                                 73,666,824                                 7,366,682
Ltd.                                                                                          shares

                                                                                              RMB common
Shenzhen Energy Group Co., Ltd.                                                  65,106,130                                65,106,130
                                                                                              shares

                                                                                              Domestically
BOCI SECURITIES LIMITED                                                          14,991,882 listed foreign                 14,991,882
                                                                                              shares

                                                                                              Domestically
Zeng Ying                                                                           7,159,600 listed foreign                7,159,600
                                                                                              shares




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                                                                                                      Domestically
China Merchants Securities H.K.
                                                                                          6,247,928 listed foreign     6,247,928
Co., Ltd.
                                                                                                      shares

                                                                                                      Domestically
LI SHERYN ZHAN MING                                                                       5,825,490 listed foreign     5,825,490
                                                                                                      shares

                                                                                                      RMB common
Meiyi Investment Property Co., Ltd.                                                       5,218,000                    5,218,000
                                                                                                      shares

                                                                                                      Domestically
Haitong International Securities
                                                                                          3,909,357 listed foreign     3,909,357
Company Limited-Account Client
                                                                                                      shares

                                                                                                      Domestically
Guosen Securities (Hong Kong)
                                                                                          3,651,901 listed foreign     3,651,901
Brokerage Co., Ltd.
                                                                                                      shares

                                           1. 100% equity of HONG KONG NAM HOI (INTERNATIONAL) LIMITED was held by
Explanation        on         associated
                                           SHENZHEN ENERGY (GROUP) CO., LTD
relationship among the aforesaid
                                           2. Among other social public shareholders, the Company did not know whether there were
shareholders
                                           associated relationships or belonging to consistent actors.

Explanation on top 10 shareholders
involving      margin   business     (if N/A
applicable)

Whether top ten common shareholders or top ten common shareholders with un-restrict shares held have a buy-back agreement
dealing in reporting period
□ Yes √ No
The top ten common shareholders or top ten common shareholders with un-restrict shares held of the Company have no buy-back
agreement dealing in reporting period.


2. Total shareholders with preferred stock held and shares held by top ten shareholders with preferred
stock held

□ Applicable √ Not applicable




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                                       Section III. Significant Events

I. Particulars about material changes in items of main financial data and financial index and
explanations of reasons

√Applicable    □Not applicable
1. Monetary fund has 585.985 million Yuan at end of the period, a decrease of 23.36% over that of year beginning, mainly because
repayment of bank loans increased;
2. Notes receivable and accounts receivable has 123.1824 million Yuan at end of the period, an increase of 44.42% over that of year
beginning, mainly because the electricity bills receivable increased;
3. Advance payment has 17.8459 million Yuan at end of the period, a decrease of 39.60% over that of year beginning, mainly be cause
prepayment for natural gas declined;
4. Construction in progress has 69.0174 million Yuan at end of the period, an increase of 61.32% over that of year beginning, mainly
because the expenditures for technological transformation projects increased;
5. Long-term deferred expenses has 1.2268 million Yuan at end of the period, an increase of 19.39% over that of year beginning,
mainly because the decoration costs increased;
6. Short-term loans has 440.0218 million Yuan at end of the period, a decrease of 34.86% over that of year beginn ing, mainly because
bank loans declined;
7. Note payable and accounts payable has 46.6524 million Yuan at end of the period, an increase of 17.29% over that of year
beginning, mainly because the natural gas payable increased;
8. Taxes payable has 4.5089 million Yuan at end of the period, a decrease of 40.88% over that of year beginning, mainly because the
taxes paid in the current period increased;
9. Operating income has 86.3806 million Yuan in the period, a decrease of 62.23% from a year earlier, mainly because Dongguan
company is no longer included in the scope of consolidation, which made the revenue declined;
10. Operating cost has 85.5327 million Yuan in the period, a decrease of 61.55% from a year earlier, mainly because Dongguan
company is no longer included in the scope of consolidation, which made the cost declined;
11. Taxes and surcharges has 0.8184 million Yuan in the period, a decrease of 60.06% from a year earlier, mainly because Dongguan
company is no longer included in the scope of consolidation, which reduces the value-added tax surcharge;
12. Sales expenses has 0.4245 million Yuan in the period, a decrease of 60.36% from a year earlier, mainly because dry mud disposal
fee declined;
13. R&D expenses has 1.4625 million Yuan in the period, an increase of 100.00% from a year earlier, mainly because technology
research and development expenditure increased;
14. Financial Expenses has -5.26 million Yuan in the period, a decrease of 216.87% from a year earlier, mainly because financial
management income increased;
15. Other income has 1.7635 million Yuan in the period, a decrease of 73.55% from a year earlier, mainly because government
subsidy income declined;
16. Investment income has -0.6716 million Yuan in the period, a decrease of 436.68% from a year earlier, mainly because the
investment losses accounted by equity method increased;
17. Asset disposal income has 0.9447 million Yuan in the period, an increase of 100% from a year earlier, mainly because the income
from the disposal of fixed assets increased;

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18. Non-operating income has 31,100 Yuan in the period, an increase of 2,118.51% from a year earlier, mainly because the income
from scrapping of fixed assets increased;
19. Non-operating expenses has 35,400 Yuan in the period, an increase of 253.88% from a year earlier, mainly because the loss of
scrapped fixed assets increased;
20. Net cash flow arising from operation activity has -38.8836 million Yuan in the period, a decrease of 276.55% from a year earlier
in net in-flow, mainly because the natural gas payment is greater than the natural gas payment received for electricity;
21. Net cash flow arising from investment activity has 100.8482 million Yuan in the period, an increase of 52.70% from a year earlier
in net in-flow, mainly because net cash spend on financial management decreased;
22. Net cash flow arising from financing activity has -240.6207 million Yuan in the period, a decrease of 1,004.82% from a year
earlier in net in-flow, mainly because net inflow of bank loans declined.


II. Analysis and explanation of significant events and their influence and solutions

□ Applicable    √ Not applicable
Implementation progress of shares buy-back
□ Applicable    √ Not applicable
Implementation progress of the reduction of repurchases shares by centralized bidding

□ Applicable    √ Not applicable


III. Commitments completed in Period and those without completed till end of the Period
from actual controller, shareholders, related parties, purchaser and companies

□ Applicable    √ Not applicable
The Company has no commitments completed in Period and those without completed till end of the Period from actual controller,
shareholders, related parties, purchaser and companies.


IV. Financial asset investment

1. Securities investment

□ Applicable   √ Not applicable
No securities investment in the Period.


2. Derivative investment

□ Applicable   √ Not applicable
No derivative investment in the Period.


V. Progress of investment projects with raised funds

□ Applicable   √ Not applicable




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VI. Prediction of business performance from January – June 2021

Estimation on 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 on reason
□ Applicable     √ Not applicable


VII. Major contracts for daily operations

□ Applicable     √ Not applicable


VIII. Trust financing

√ Applicable      □ Not applicable
                                                                                                                  In 10 thousand Yuan

           Type                    Capital sources          Amount occurred          Outstanding balance         Overdue amount

Bank financial products Own funds                                      -10,574.48                  46,991.07                      0

Total                                                                  -10,574.48                  46,991.07                      0


Details of the single major amount, or high-risk trust investment with low security, poor fluidity and non-guaranteed

□Applicable      √Not applicable

Entrust financial expected to be unable to recover the principal or impairment might be occurred
□ Applicable      √ Not applicable


IX. External security against the rules

□ Applicable     √ Not applicable
The Company has no external security against the rules in the Period


X. Controlling shareholders' and its related party's non-business capital occupying of the
listed company

□ Applicable     √ Not applicable

There are no controlling shareholders' and its related party's non-business capital occupying of the listed company.


XI. Registration form for receiving research, communication and interview in the report
period

√ Applicable □ Not applicable

                                                                                                                Basic situation
                                                               Reception      Main contents of the discussion
        Time            Location         Way         Type                                                          index of
                                                                 target          and information provided
                                                                                                                 investigation



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                                                                                                                   Received
                 Office from
                                                           Individual (14 Search        the     register      of according to the
Jan.-Mar. 2021   the            Field visit   Individual
                                                           person-time)     shareholders etc.                      laws           and
                 headquarters
                                                                                                                   regulations

                                                                            Query       the     number        of
                                                                            shareholders, as about the future
                                                                            development direction of the
                 Interactive    Written                    Individual (22                                          Rely     in written
Jan.-Mar. 2021                                Individual                    Company,      progress     of    the
                 platform       inquiry                    person-time)                                            timely
                                                                            investment items and lands with
                                                                            Nanshan         Power      Factory
                                                                            concerned

                                                                            Inquire and communicate the
                                                                            Company’s business conditions
                 Telephone      Telephone                  Individual       performance forecast, market Reply               according
Jan.-Mar. 2021   communicatio communicat Individual (Dozens               of performance,     the    lands    of to the laws and
                 n              ion                        times)           Nanshan Power Factory and regulations
                                                                            progress of the investment items
                                                                            etc.




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                                                                       深圳南山热电股份有限公司 2021 年第一季度报告全文




                                           Section IV. Financial Statement

I. Financial statement

1. Consolidate balance sheet

Prepared by Shenzhen Nanshan Power Co., Ltd.

                                                      March 31, 2021
                                                                                                                    In RMB

                      Item                          March 31, 2021                           March 31, 2020

Current assets:

       Monetary fund                                             585,984,991.88                           764,601,272.21

       Settlement provisions

       Capital lent

       Trading financial assets

       Derivative financial assets

       Note receivable

       Account receivable                                        123,182,409.54                               85,293,052.88

       Receivable financing

       Accounts paid in advance                                      17,845,873.77                            29,544,788.35

       Insurance receivable

       Reinsurance receivables

       Contract reserve of reinsurance
receivable

       Other account receivable                                      28,959,377.39                            31,027,754.36

          Including: Interest receivable

                  Dividend receivable

       Buying back the sale of financial
assets

       Inventories                                                   99,407,920.26                        100,245,529.06

         Contractual assets                                                                                    7,229,600.00

       Assets held for sale

       Non-current asset due within one
year

       Other current assets                                      809,639,472.17                           917,288,244.54


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                                               深圳南山热电股份有限公司 2021 年第一季度报告全文


Total current assets                      1,665,020,045.01                     1,935,230,241.40

Non-current assets:

     Loans and payments on behalf

     Debt investment

     Other debt investment

     Long-term account receivable

     Long-term equity investment             8,221,839.15                          8,893,408.86

     Investment in other equity
                                            81,615,000.00                         81,615,000.00
instrument

     Other non-current financial assets

     Investment real estate                  2,156,155.00                          2,205,189.40

     Fixed assets                          913,980,872.78                        925,745,208.55

     Construction in progress               69,017,397.95                         42,782,712.98

     Productive biological asset

     Oil and gas asset

      Right-of-use assets

     Intangible assets                      20,908,538.85                         21,125,610.24

     Expense on Research and
Development

     Goodwill

     Long-term expenses to be
                                             1,226,767.46                          1,027,508.94
apportioned

     Deferred income tax asset               2,206,049.69                          2,206,049.69

     Other non-current asset

Total non-current asset                   1,099,332,620.88                     1,085,600,688.66

Total assets                              2,764,352,665.89                     3,020,830,930.06

Current liabilities:

     Short-term loans                      440,021,810.33                        675,528,858.48

     Loan from central bank

     Capital borrowed

     Trading financial liability

     Derivative financial liability

Note payable                                34,609,433.65                         30,467,345.48

Account payable                             12,042,933.60                          9,306,303.26

     Accounts received in advance


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                                             深圳南山热电股份有限公司 2021 年第一季度报告全文


       Contractual liability

     Selling financial asset of
repurchase

     Absorbing deposit and interbank
deposit

Security trading of agency

     Security sales of agency

     Wage payable                          64,530,786.87                        69,426,903.97

     Taxes payable                          4,508,898.49                         7,626,258.26

     Other account payable                 24,832,135.13                        27,020,944.95

          Including: Interest payable

                     Dividend payable

     Commission charge and
commission payable

     Reinsurance payable

     Liability held for sale

     Non-current liabilities due within
one year

     Other current liabilities

Total current liabilities                 580,545,998.07                       819,376,614.40

Non-current liabilities:

Insurance contract reserve

     Long-term loans

     Bonds payable

          Including: Preferred stock

                     Perpetual capital
securities

       Lease liability

     Long-term account payable

     Long-term wages payable

     Accrual liability                     19,573,508.28                        19,923,508.28

     Deferred income                       92,192,715.99                        93,780,657.93

     Deferred income tax liabilities

     Other non-current liabilities              7,627.86                             7,627.86

Total non-current liabilities             111,773,852.13                       113,711,794.07



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Total liabilities                                                   692,319,850.20                           933,088,408.47

Owner’s equity:

     Share capital                                                  602,762,596.00                           602,762,596.00

     Other equity instrument

        Including: Preferred stock

                     Perpetual capital
securities

     Capital public reserve                                         362,770,922.10                           362,770,922.10

     Less: Inventory shares

     Other comprehensive income                                         -2,500,000.00                            -2,500,000.00

     Reasonable reserve

     Surplus public reserve                                         332,908,397.60                           332,908,397.60

     Provision of general risk

     Retained profit                                                745,721,082.72                           758,799,931.94

Total owner’ s equity attributable to
                                                                  2,041,662,998.42                         2,054,741,847.64
parent company

     Minority interests                                                 30,369,817.27                            33,000,673.95

Total owner’ s equity                                            2,072,032,815.69                         2,087,742,521.59

Total liabilities and owner’ s equity                            2,764,352,665.89                         3,020,830,930.06


Legal Representative: Li Xinwei


Person in charge of accounting works: Chen Yuhui


Person in charge of accounting institute: Shang Ying


2. Balance Sheet of Parent Company

                                                                                                                       In RMB

                    Item                               March 31, 2021                           March 31, 2020

Current assets:

     Monetary funds                                                 503,599,594.31                           656,244,294.18

     Trading financial assets

     Derivative financial assets

     Note receivable

     Account receivable                                                 56,401,337.45                            24,673,115.32

     Receivable financing


                                                                                                                             14
                                                 深圳南山热电股份有限公司 2021 年第一季度报告全文


     Accounts paid in advance                 10,396,892.16                         25,560,315.87

     Other account receivable                579,503,107.71                        598,044,417.89

        Including: Interest receivable

                      Dividend receivable

     Inventories                              91,811,670.68                         91,867,492.38

     Contractual assets

     Assets held for sale

     Non-current assets maturing within
one year

     Other current assets                    802,624,081.14                        910,645,154.56

Total current assets                        2,044,336,683.45                     2,307,034,790.20

Non-current assets:

     Debt investment

     Other debt investment

     Long-term receivables

     Long-term equity investments            250,191,165.00                        250,191,165.00

     Investment in other equity
                                              60,615,000.00                         60,615,000.00
instrument

     Other non-current financial assets

     Investment real estate

     Fixed assets                            308,960,400.67                        312,649,354.95

     Construction in progress                 26,086,302.87                          1,073,964.84

     Productive biological assets

     Oil and natural gas assets

     Right-of-use assets

      Intangible assets                          270,827.44                            332,241.43

     Research and development costs

     Goodwill

     Long-term deferred expenses                 956,181.74                            734,374.41

     Deferred income tax assets

     Other non-current assets

Total non-current assets                     647,079,877.72                        625,596,100.63

Total assets                                2,691,416,561.17                     2,932,630,890.83

Current liabilities

     Short-term borrowings                   440,021,810.33                        675,528,858.48


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                                             深圳南山热电股份有限公司 2021 年第一季度报告全文


     Trading financial liability

     Derivative financial liability

     Notes payable                         34,609,433.65                        30,467,345.48

     Account payable                        5,041,053.37                           998,036.56

     Accounts received in advance

     Contractual liability

     Wage payable                          49,889,889.19                        53,405,473.63

     Taxes payable                            341,327.15                         1,752,749.94

     Other accounts payable               197,799,666.04                       204,960,979.45

        Including: Interest payable

                    Dividend payable

     Liability held for sale

     Non-current liabilities due within
one year

     Other current liabilities

Total current liabilities                 727,703,179.73                       967,113,443.54

Non-current liabilities:

     Long-term loans

     Bonds payable

        Including: preferred stock

                    Perpetual capital
securities

     Lease liability

     Long-term account payable

Long term employee compensation
payable

     Accrued liabilities

     Deferred income                       53,941,462.10                        54,805,440.92

     Deferred income tax liabilities

     Other non-current liabilities

Total non-current liabilities              53,941,462.10                        54,805,440.92

Total liabilities                         781,644,641.83                     1,021,918,884.46

Owners’ equity:

     Share capital                        602,762,596.00                       602,762,596.00

     Other equity instrument


                                                                                            16
                                                           深圳南山热电股份有限公司 2021 年第一季度报告全文


        Including: preferred stock

                Perpetual capital
securities

     Capital public reserve                         289,963,039.70                               289,963,039.70

     Less: Inventory shares

     Other comprehensive income

Special reserve

     Surplus reserve                                332,908,397.60                               332,908,397.60

     Retained profit                                684,137,886.04                               685,077,973.07

Total owner’s equity                              1,909,771,919.34                          1,910,712,006.37

Total liabilities and owner’s equity              2,691,416,561.17                          2,932,630,890.83


3. Consolidated Profit Statement

                                                                                                        In RMB

                   Item                 Current period                             Last period

I. Total operating income                                86,380,557.37                           228,717,033.81

     Including: Operating income                         86,380,557.37                           228,717,033.81

             Interest income

             Insurance gained

             Commission charge and
commission income

II. Total operating cost                             104,122,537.64                              251,289,929.79

     Including: Operating cost                           85,532,715.20                           222,478,803.66

             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

             Tax and extras                                818,433.20                              2,049,312.50

             Sales expense                                 424,542.50                              1,070,938.90

             Administrative expense                      21,141,627.42                            21,190,048.99


                                                                                                              17
                                                     深圳南山热电股份有限公司 2021 年第一季度报告全文


                R&D expense                        1,465,171.31

                Financial expense                  -5,259,951.98                         4,500,825.74

                     Including: Interest
                                                   6,310,086.58                         10,225,384.24
expenses

                                Interest income   -11,586,398.21                        -5,956,731.84

         Add: other income                         1,763,464.38                          6,666,794.07

              Investment income (Loss is
                                                    -671,569.71                           199,465.79
listed with “-”)

              Including: Investment income
                                                    -671,569.71                           199,465.79
on affiliated company and joint venture

                     The termination of income
recognition for financial assets measured
by amortized cost(Loss is listed with “-”)

              Exchange income (Loss is
listed with “-”)

              Net exposure hedging income
(Loss is listed with “-”)

              Income from change of fair
value (Loss is listed with “-”)

              Loss of credit impairment
(Loss is listed with “-”)

              Losses of devaluation of asset
(Loss is listed with “-”)

              Income from assets disposal
                                                     944,667.70
(Loss is listed with “-”)

III. Operating profit (Loss is listed with
                                                  -15,705,417.90                       -15,706,636.12
“-”)

         Add: Non-operating income                    31,100.00                              1,401.84

         Less: Non-operating expense                  35,388.00                            10,000.00

IV. Total profit (Loss is listed with “-”)      -15,709,705.90                       -15,715,234.28

         Less: Income tax expense                                                         154,055.99

V. Net profit (Net loss is listed with “-”)     -15,709,705.90                       -15,869,290.27

   (i) Classify by business continuity

         1.continuous operating net profit
(net loss listed with ‘-”)

         2.termination of net profit (net loss
listed with ‘-”)



                                                                                                    18
                                                深圳南山热电股份有限公司 2021 年第一季度报告全文


  (ii) Classify by ownership

     1.Net profit attributable to owner’s
                                             -13,078,849.22                       -14,023,020.62
of parent company

     2.Minority shareholders’ gains and
                                              -2,630,856.68                        -1,846,269.65
losses

VI. Net after-tax of other comprehensive
income

  Net after-tax of other comprehensive
income attributable to owners of parent
company

     (I) Other comprehensive income
items which will not be reclassified
subsequently to profit of loss

              1.Changes of the defined
benefit plans that re-measured

              2.Other comprehensive
income under equity method that cannot
be transfer to gain/loss

              3.Change of fair value of
investment in other equity instrument

              4.Fair value change of
enterprise's credit risk

              5. Other

         (ii) Other comprehensive income
items which will be reclassified
subsequently to profit or loss

              1.Other comprehensive
income under equity method that can
transfer to gain/loss

              2.Change of fair value of
other debt investment

              3.Amount of financial assets
re-classify to other comprehensive
income

              4.Credit impairment
provision for other debt investment

              5.Cash flow hedging reserve

              6.Translation differences
arising on translation of foreign currency


                                                                                               19
                                                                           深圳南山热电股份有限公司 2021 年第一季度报告全文


financial statements

               7.Other

   Net after-tax of other comprehensive
income attributable to minority
shareholders

VII. Total comprehensive income                                         -15,709,705.90                            -15,869,290.27

        Total comprehensive income
                                                                        -13,078,849.22                            -14,023,020.62
attributable to owners of parent Company

     Total comprehensive income
                                                                         -2,630,856.68                             -1,846,269.65
attributable to minority shareholders

VIII. Earnings per share:

      (i) Basic earnings per share                                             -0.0217                                  -0.0233

     (ii) Diluted earnings per share                                           -0.0217                                  -0.0233


Enterprise combine under the same control in the Period, the combined party realized net profit of 0 Yuan before combination, and
realized 0 Yuan at last period for combined party


Legal Representative: Li Xinwei


Person in charge of accounting works: Chen Yuhui


Person in charge of accounting institute: Shang Ying


4. Profit Statement of Parent Company

                                                                                                                         In RMB

                    Item                               Current period                               Last period

I. Operating income                                                     43,141,319.16                             39,576,718.44

     Less: Operating cost                                               45,414,691.55                             47,086,536.01

           Taxes and surcharge                                              39,061.75                                 25,249.45

           Sales expenses

           Administration expenses                                      11,177,405.22                              9,977,388.80

           R&D expenses

           Financial expenses                                           -10,569,778.78                             -7,701,706.54

                 Including: interest
                                                                         6,717,996.71                              6,759,039.78
expenses

                         Interest income                                -17,334,148.93                            -14,542,892.69

     Add: other income                                                   1,035,305.85                              5,197,076.15



                                                                                                                               20
                                                深圳南山热电股份有限公司 2021 年第一季度报告全文


              Investment income (Loss is
listed with “-”)

              Including: Investment income
on affiliated Company and joint venture

                     The termination of
income recognition for financial assets
measured by amortized cost (Loss is
listed with “-”)

              Net exposure hedging income
(Loss is listed with “-”)

              Changing income of fair
value (Loss is listed with “-”)

              Loss of credit impairment
(Loss is listed with “-”)

              Losses of devaluation of asset
(Loss is listed with “-”)

              Income on disposal of assets
                                                944,667.70
(Loss is listed with “-”)

II. Operating profit (Loss is listed with
                                                -940,087.03                        -4,613,673.13
“-”)

         Add: Non-operating income

         Less: Non-operating expense

III. Total Profit (Loss is listed with “-”)   -940,087.03                        -4,613,673.13

         Less: Income tax

IV. Net profit (Net loss is listed with
                                                -940,087.03                        -4,613,673.13
“-”)

(i)continuous operating net profit (net
loss listed with ‘-”)

         (ii) termination of net profit (net
loss listed with ‘-”)

V. Net after-tax of other comprehensive
income

         (I) Other comprehensive income
items which will not be reclassified
subsequently to profit of loss

                 1.Changes of the defined
benefit plans that re-measured

                 2.Other comprehensive
income under equity method that cannot

                                                                                               21
                                                             深圳南山热电股份有限公司 2021 年第一季度报告全文


be transfer to gain/loss

              3.Change of fair value of
investment in other equity instrument

              4.Fair value change of
enterprise's credit risk

              5. Other

       (II) Other comprehensive income
items which will be reclassified
subsequently to profit or loss

              1.Other comprehensive
income under equity method that can
transfer to gain/loss

              2.Change of fair value of
other debt investment

              3.Amount of financial
assets re-classify to other
comprehensive income

              4.Credit impairment
provision for other debt investment

              5.Cash flow hedging
reserve

              6.Translation differences
arising on translation of foreign
currency financial statements

              7.Other

VI. Total comprehensive income                               -940,087.03                           -4,613,673.13

VII. Earnings per share:

       (i) Basic earnings per share

     (ii) Diluted earnings per share


5. Consolidated Cash Flow Statement

                                                                                                         In RMB

                   Item                   Current period                            Last period

I. Cash flows arising from operating
activities:

     Cash received from selling
commodities and providing labor                            82,084,455.92                          269,328,078.58
services


                                                                                                               22
                                               深圳南山热电股份有限公司 2021 年第一季度报告全文


       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

       Cash received from interest,
commission charge and commission

       Net increase of capital borrowed

       Net increase of returned business
capital

       Net cash received by agents in sale
and purchase of securities

       Write-back of tax received                 7,103.13                           171,207.01

       Other cash received concerning
                                              6,302,865.37                        13,182,662.61
operating activities

Subtotal of cash inflow arising from
                                             88,394,424.42                       282,681,948.20
operating activities

       Cash paid for purchasing
commodities and receiving labor              71,066,272.78                       191,188,380.26
service

       Net increase of customer loans and
advances

       Net increase of deposits in central
bank and interbank

       Cash paid for original insurance
contract compensation

       Net increase of capital lent

       Cash paid for interest, commission
charge and commission

        Cash paid for bonus of guarantee
slip



                                                                                              23
                                             深圳南山热电股份有限公司 2021 年第一季度报告全文


     Cash paid to/for staff and workers    38,454,030.92                        34,694,210.48

     Taxes paid                             5,681,683.89                        21,136,774.95

     Other cash paid concerning
                                           12,076,032.33                        13,638,958.10
operating activities

Subtotal of cash outflow arising from
                                          127,278,019.92                       260,658,323.79
operating activities

Net cash flows arising from operating
                                          -38,883,595.50                        22,023,624.41
activities

II. Cash flows arising from investing
activities:

     Cash received from recovering
                                          106,112,417.65                       178,000,000.00
investment

     Cash received from investment
                                            4,547,859.46                           191,275.06
income

     Net cash received from disposal of
fixed, intangible and other long-term       1,812,386.50
assets

     Net cash received from disposal of
subsidiaries and other units

     Other cash received concerning
                                            5,000,000.00
investing activities

Subtotal of cash inflow from investing
                                          117,472,663.61                       178,191,275.06
activities

     Cash paid for purchasing fixed,
                                           16,624,479.71                         2,147,254.56
intangible and other long-term assets

     Cash paid for investment                                                  110,000,000.00

     Net increase of mortgaged loans

     Net cash received from
subsidiaries and other units obtained

     Other cash paid concerning
investing activities

Subtotal of cash outflow from investing
                                           16,624,479.71                       112,147,254.56
activities

Net cash flows arising from investing
                                          100,848,183.90                        66,044,020.50
activities

III. Cash flows arising from financing
activities

     Cash received from absorbing



                                                                                            24
                                                              深圳南山热电股份有限公司 2021 年第一季度报告全文


investment

       Including: Cash received from
absorbing minority shareholders’
investment by subsidiaries

     Cash received from loans                               88,262,740.80                           86,000,000.00

     Other cash received concerning
financing activities

Subtotal of cash inflow from financing
                                                            88,262,740.80                           86,000,000.00
activities

     Cash paid for settling debts                       320,733,285.00                              50,000,000.00

     Cash paid for dividend and profit
                                                             4,205,253.75                            9,406,836.84
distributing or interest paying

     Including: Dividend and profit of
minority shareholder paid by
subsidiaries

     Other cash paid concerning
                                                             3,944,952.00
financing activities

Subtotal of cash outflow from financing
                                                        328,883,490.75                              59,406,836.84
activities

Net cash flows arising from financing
                                                       -240,620,749.95                              26,593,163.16
activities

IV. Influence on cash and cash
equivalents due to fluctuation in                              39,881.22                                99,323.49
exchange rate

V. Net increase of cash and cash
                                                       -178,616,280.33                             114,760,131.56
equivalents

     Add: Balance of cash and cash
                                                        764,601,272.21                             771,490,000.96
equivalents at the period -begin

VI. Balance of cash and cash
                                                        585,984,991.88                             886,250,132.52
equivalents at the period -end


6. Cash Flow Statement of Parent Company

                                                                                                          In RMB

                   Item                    Current period                            Last period

I. Cash flows arising from operating
activities:

     Cash received from selling
                                                            47,581,807.04                           52,945,277.26
commodities and providing labor


                                                                                                                25
                                             深圳南山热电股份有限公司 2021 年第一季度报告全文


services

     Write-back of tax received                                                    171,207.01

     Other cash received concerning
                                           40,184,178.82                        42,047,324.58
operating activities

Subtotal of cash inflow arising from
                                           87,765,985.86                        95,163,808.85
operating activities

     Cash paid for purchasing
commodities and receiving labor            42,169,696.71                        40,043,331.88
service

     Cash paid to/for staff and workers    26,703,957.85                        19,841,265.42

     Taxes paid                              155,478.70                             91,230.61

     Other cash paid concerning
                                           27,091,574.88                        23,284,108.41
operating activities

Subtotal of cash outflow arising from
                                           96,120,708.14                        83,259,936.32
operating activities

Net cash flows arising from operating
                                           -8,354,722.28                        11,903,872.53
activities

II. Cash flows arising from investing
activities:

     Cash received from recovering
                                          106,112,417.65                       178,000,000.00
investment

     Cash received from investment
                                            4,547,859.46                           191,275.06
income

     Net cash received from disposal of
fixed, intangible and other long-term       1,756,774.50                                 0.00
assets

     Net cash received from disposal of
                                                                                         0.00
subsidiaries and other units

     Other cash received concerning
                                                                                         0.00
investing activities

Subtotal of cash inflow from investing
                                          112,417,051.61                       178,191,275.06
activities

     Cash paid for purchasing fixed,
                                           16,086,183.17                            74,212.00
intangible and other long-term assets

     Cash paid for investment                                                  110,000,000.00

     Net cash received from
                                                                                         0.00
subsidiaries and other units obtained

     Other cash paid concerning                                                          0.00



                                                                                            26
                                                          深圳南山热电股份有限公司 2021 年第一季度报告全文


investing activities

Subtotal of cash outflow from investing
                                                       16,086,183.17                        110,074,212.00
activities

Net cash flows arising from investing
                                                       96,330,868.44                         68,117,063.06
activities

III. Cash flows arising from financing
activities

     Cash received from absorbing
investment

     Cash received from loans                          88,262,740.80                         86,000,000.00

     Other cash received concerning
                                                                                                      0.00
financing activities

Subtotal of cash inflow from financing
                                                       88,262,740.80                         86,000,000.00
activities

     Cash paid for settling debts                     320,733,285.00                         50,000,000.00

     Cash paid for dividend and profit
                                                         4,205,253.75                         5,817,822.93
distributing or interest paying

     Other cash paid concerning
                                                         3,944,952.00                                 0.00
financing activities

Subtotal of cash outflow from financing
                                                      328,883,490.75                         55,817,822.93
activities

Net cash flows arising from financing
                                                      -240,620,749.95                        30,182,177.07
activities

IV. Influence on cash and cash
equivalents due to fluctuation in                              -96.08                              722.90
exchange rate

V. Net increase of cash and cash
                                                      -152,644,699.87                       110,203,835.56
equivalents

     Add: Balance of cash and cash
                                                      656,244,294.18                        632,948,706.11
equivalents at the period -begin

VI. Balance of cash and cash
                                                      503,599,594.31                        743,152,541.67
equivalents at the period -end


II. Explanation on financial statement adjustment

1. Financial statement adjustment at the beginning of the first year when implementation of new leasing
rules from 2021

□Applicable    √Not applicable



                                                                                                         27
                                                            深圳南山热电股份有限公司 2021 年第一季度报告全文


2. Retrospective adjustment of the comparative data for initial new leasing rules from 2021

□Applicable   √Not applicable


III. Audit report

Whether the 1st quarterly report has been audited or not
□Yes √ No

1Q report of the Company is unaudited.




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