Shenzhen Textile (Holdings) Co., Ltd. Quarterly Report for the Frist Quarter of 2009
1
Shenzhen Textile (Holdings) Co., Ltd.
Quarterly Report for the First Quarter of 2009 (Full text)
§1 Important notes
1.1 The Board of Directors of the Company hereby guarantees that there are no
misstatement, misleading representation or important omissions in this report and
shall assume joint and several liability for the authenticity, accuracy and
completeness of the contents herein.
1.2 The financial report of the Company in this quarterly Report period has not been
audited.
1.3 Chairman of the Board of Directors Wang Bin, General Manager Zhu Jun and Assistant
General accountant Liu Yi represent and warrant the financial and accounting report
in the quarterly is true and complete.
§2 Basic Information
2.1 Highlights of Accounting Data and Financial Indicators
Unit：RMB
At the period-end of this At the period-end of last year Increase /decrease（％）
Total assets 551,857,063.85 565,791,088.77 -2.46%
Owner’s equity attributable to the
parent company 433,575,690.84 417,227,296.51 3.92%
Stock capital 245,124,000.00 245,124,000.00 0.00%
Net assets per share attributable to the
parent company 1.77 1.70 4.12%
Amount of current period Amount of the same period in
last year Increase /decrease（％）
Total turnover 56,892,294.68 87,812,489.87 -35.21%
Net profit attributable to owners of
parent company 9,415,730.92 7,917,367.62 18.93%
Net cash flow arising from operating
activities 6,003,764.07 9,458,983.13 -36.53%
Net cash flow per share arising from
operating activities 0.02 0.04 -50.00%
Basic earnings per share 0.04 0.03 33.33%
Diluted earnings per share 0.04 0.03 33.33%
Return on net assets 2.17% 1.84% Increase by 0.33%
Return on net assets after deducting
non-recurring gains and losses 0.83% 0.88% Decrease by 0.05%
Items of non-current gains and losses Year begin to end of report
period
Gains and losses from the disposal of non-current assets 6,504,576.48Shenzhen Textile (Holdings) Co., Ltd.
Quarterly Report for the Frist Quarter of 2009
2
Net amount of non-operating income and expenses the aforesaid items -11,329.65
Net amount of non-business gain/loss other than the above items 755,265.70
Amount of influence of the above items on income tax. -1,452,062.69
Total 5,796,449.84
Explanation Items of non-current gains and losses：
Gains and losses from the disposal of non-current assets were mainly the Selling of repurchased financial
assets gains
2.2 Top 10 shareholders and top 10 holders of unconditional shares
Unit：Shares
Total of shareholders 19,702
Top 10 holders of unconditional shares
Name of the shareholder Unconditional shares Type of shares
Shenzhen Investment Holding Co., Ltd. 12,256,200 RMB Common shares
Chen Minru 850,172 RMB Common shares
Zheng Chuangjian 721,850 Foreign shares placed in domestic
exchange
HSBC BROKING
SECURITIES(AISA)LIMITED-CLIENTS A/C 720,000 Foreign shares placed in domestic
exchange
Xun Li 624,884 RMB Common shares
Liu Hong 590,000 Foreign shares placed in domestic
exchange
Wang Zhongming 503,749 Foreign shares placed in domestic
exchange
Nao Weishuang 501,133 Foreign shares placed in domestic
exchange
Peng Beixian 467,100 RMB Common shares
He Yanling 466,100 Foreign shares placed in domestic
exchange
§3 Significant Events
3.1 Particular about large-margin change of main accounting statement item and financial index and its
reason.
√ applicable □ not applicable
(1) Operating income decreased by 35.21% year on year mainly due to sharp decrease of export trade with the
spread of international
financial crisis;
(2) Operating cost decreased by 44.34% year on year mainly due to decrease of export trade;
(3) Financial expenses decreased by 48.20% year on year mainly due to year-on-year sharp decrease of bank
loan and reduction of
interest expenses;
(4) Income tax expenses increased by 59.52% year on year mainly due to increase of income tax expenses for
current period;
(5) Accounts receivable decreased by 48.22% year on year mainly due to recovery of arrears from customers;
(6) Payment in advance decreased by 96.24% year on year mainly due to the close of the orders placed at the
end of previous year in
current period;
(7) Taxes and levies payable decreased by 374.89% year on year mainly due to rise of export rebate rate and
increase of export rebates;
(8) Dividends payable decreased by 50% year on year mainly due to payment of profit formed before stock-
holding system
transformation in 1993 to the controlling shareholder;
(9) Deferred income tax liabilities increased by 30% year on year mainly due to increase of fair value of
financial assets available for
sale;
(10) Cash received from sales of goods and rendering of services decreased by 30.17% year on year mainly
due to decrease of export
trade;Shenzhen Textile (Holdings) Co., Ltd. Quarterly Report for the Frist Quarter of 2009
3
(11) Refund of taxes and levies increased by 100.09% year on year mainly due to increase of export rebates
actually received in current
period;
(12) Net cash flows from operating activities decreased by 36.53% mainly due to decrease of cash received
from sales of commodities;
(13) Cash received from investment recovery increased by 93.09% year on year mainly due to increase of
sales of financial assets
available for sale in current period;
(14) Cash received from returns on investment increased by 48.86% year on year mainly due to increase of
income from
sales of financial assets available for sale;
(15) The cash received from disposal of fixed assets decreased by 99.99% year on year mainly due to year-
on-year decrease of
payment for land assignment;
(16) Cash payment for construction of fixed assets decreased by 81.74% year on year mainly due to decrease
of payment for Longgang
dormitory project;
(17) Other cash payment related to investment decreased by 100% year on year mainly due to decrease of
monetary capital as a result
of change of consolidation scope in the same period of previous year;
(18) Net cash flows from investing activities increased by 35% year on year mainly due to change of
consolidation scope in the same
period of previous year;
(19) Cash received from obtainment of loan decreased by 70.24% year on year mainly due to decrease of bank
loan in current period;
(20) Cash paid for repayment of debt decreased by 57.14% year on year mainly due to decrease of total
amount of bank loan;
(21) Cash paid for interest reimbursement decreased by 49.33% year on year mainly due to decrease of total
amount of loan.
(22) Net cash flows from financing activities decreased 882.17% year on year mainly due to paid of bank
loan .
(23) Net increase in Cash and Cash equivalent Increase by 103.28% year on year mainly due to change of
consolidation scope in the
same period of previous year.
3.2 The progress of significant events and influence, as well as the analysis and explanation on resolving
proposal.
□applicable √ not applicable
3.3 The fulfillment of the commitment made by the Company , shareholders and the actual controller
□applicable √not applicable
3.4 Estimation of accumulative net profit from the beginning of the year to the end of next report period
to
be loss probably or the warning of its material change compared with the corresponding period of the last
year and explanation of reason.
□Applicable √Not applicable
3.5 Other significant events need to be explained
3.5.1 Securities investment
√Applicable □ Not applicable
Unit：（RMB）
No Type Stock code Stock
abbreviation
Initial
investment
Holding
Quantity(shar
es)
Book value at the
end of term
Porpontion of
total
investment in
the securities
at the end of
period(%)
Gain & loss
during the report
period(RMB)
1 Legal
share 000018 *ST Shen Victor
Onward 16,481,015.12 13,822,370.00 54,030,623.48 100.00% 0.00
Other securities investment at the end of this period 0.00 - 0.00 0.00% 0.00
Gain & loss of sold securities investment during the
report period - - - - 6,504,576.48
Total 16,481,015.12 - 54,030,623.48 100% 6,504,576.48Shenzhen Textile (Holdings) Co., Ltd. Quarterly Report
for the Frist Quarter of 2009
4
Explanation Securities investment
After the market closed on March 31, 2009, the Company accumulatively hold 8,457,118 shares of Shenzhen
Victor Onward held by it through the trading system of Shenzhen Stock Exchange, which account for 3.88% of
the
total share capital of Shenzhen Victor Onward. The remaining 13,822,369 shares of Shenzhen Victor Onward
account for 8..17% of the total share capital of Shenzhen Victor Onward, including 8,457,118 shares
negotiable
shares not subject to sale restriction, which account for 5.00% of the total share capital of Shenzhen
Victor
Onward.
3.5.2 Reception of investigations, communications ,or interviews company held in the report period.
Reception
date
Reception plane Reception Mode Reception
Object
Discussion issue and offered
information
1.1-3.31 The Company Telephone Individual
Investment
Operating status and development
prospect of the Company, the
controlling shareholder's support to the
Company's business development, etc.
3.5.3 Explanation of other significant events
(1) The Company neither provided funds to the controlling shareholder or its related parties nor provided
guarantee in violation of stipulated procedure;
(2) In the report period, no shareholder that holds more than 30% of total shares made any plan for share
purchase.
§4 Appendix
4.1 Balance sheet
Prepared by: Shenzhen Textile (Holdings) Co., Ltd. March 31, 2009 Unit：RMB
Year-end balance
Year-beginning balance
Items
Consolidated Parent company Consolidated Parent company
Current asset：
Monetary fund 84,583,539.52 37,451,100.16 84,022,925.18 35,807,908.88
Settlement provision
Outgoing call loan
Trading financial assets
Bill receivable 500,000.00 700,000.00
Account receivable 3,068,881.64 5,927,101.61
Prepayments 388,280.00 379,429.00 10,320,610.92 653,200.00
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance
contracts receivable
Interest receivable
Dividend receivable
Other account receivable 27,436,842.43 53,420,645.74 31,869,860.76 53,365,895.02
Repurchasing of financial
assetsShenzhen Textile (Holdings) Co., Ltd. Quarterly Report for the Frist Quarter of 2009
5
Inventories 10,793,798.87 12,169,064.23
Non-current asset due in 1
year
Other current asset
Total of current assets 126,771,342.46 91,251,174.90 145,009,562.70 89,827,003.90
Non-current assets：
Loans and payment on
other’s behalf disbursed
Disposable financial asset 47,613,579.97 47,613,579.97 41,203,383.82 41,203,383.82
Expired investment in
possess
Long-term receivable
Long term share equity
investment
112,908,839.68 186,473,980.52 112,611,211.91 186,622,259.68
Property investment 141,285,359.07 127,599,208.17 142,816,259.43 128,943,964.83
Fixed assets 82,355,509.66 38,182,809.69 83,916,970.31 38,817,216.62
Construction in progress 31,577,538.68 31,577,538.68 30,646,285.87 30,646,285.87
Engineering material
Fixed asset disposal
Production physical assets
Gas & petrol
Intangible assets 5,799,169.32 2,445,749.18 5,914,236.00 2,543,228.00
R & D petrol
Goodwill
Long-germ expenses to be
amortized
912,990.26 1,038,191.17
Differed income tax asset 2,632,734.75 2,642,228.06 2,634,987.56 2,642,228.06
Other non-current asset
Total of non-current assets 425,085,721.39 436,535,094.27 420,781,526.07 431,418,566.88
Total of assets 551,857,063.85 527,786,269.17 565,791,088.77 521,245,570.78
Current liabilities
Short-term loans 35,000,000.00 25,000,000.00 46,000,000.00 34,000,000.00
Loan from Central Bank
Deposit received and hold
for others
Call loan received
Trade off financial liabilities
Bill payable
Account payable 15,059,195.47 418,508.57 18,859,027.41 418,508.57
Advance payment 8,822,366.78 492,847.78 11,475,644.76 639,024.58
Selling of repurchased
financial assets
Fees and commissions
receivableShenzhen Textile (Holdings) Co., Ltd. Quarterly Report for the Frist Quarter of 2009
6
Employees’ wage payable 7,767,850.62 4,297,229.59 9,360,985.83 5,104,987.09
Tax payable -4,557,035.46 2,907,547.16 1,657,766.12 346,846.03
Interest payable
Dividend payable 2,500,000.00 2,500,000.00 5,000,000.00 5,000,000.00
Other account payable 44,179,073.94 58,956,838.69 48,433,612.32 61,837,867.20
Reinsurance fee payable
Insurance contract provision
Entrusted trading of
securities
Entrusted selling of
securities
Non-current liability due in
1 year
Other current liability
Total of current liability 108,771,451.35 94,572,971.79 140,787,036.44 107,347,233.47
Non-current liabilities：
Long-term loan
Bond payable
Long-term payable
Special payable 2,000,000.00 2,000,000.00
Expected liabilities
Differed income tax
liability
7,509,921.66 7,509,921.66 5,776,755.82 5,776,755.82
Other non-current liabilities
Total of non-current
liabilities
9,509,921.66 7,509,921.66 7,776,755.82 5,776,755.82
Total of liability 118,281,373.01 102,082,893.45 148,563,792.26 113,123,989.29
Owners’ equity
Share capital 245,124,000.00 245,124,000.00 245,124,000.00 245,124,000.00
Capital reserves 75,854,257.44 75,854,257.44 68,921,594.03 68,921,594.03
Less：Shares in stock
Surplus reserves 30,499,588.38 30,499,588.38 30,499,588.38 30,499,588.38
Common risk provision
Undistributed profit 82,097,845.02 74,225,529.90 72,682,114.10 63,576,399.08
Different of foreign currency
translation
Total of owner’s equity belong to
the parent company 433,575,690.84 425,703,375.72 417,227,296.51 408,121,581.49
Minor shareholders’ equity
Total of owners’ equity 433,575,690.84 425,703,375.72 417,227,296.51 408,121,581.49
Total of liabilities and owners’
equity 551,857,063.85 527,786,269.17 565,791,088.77 521,245,570.78Shenzhen Textile (Holdings) Co., Ltd.
Quarterly Report for the Frist Quarter of 2009
7
4.2 Profit statement
Prepared by: Shenzhen Textile (Holdings) Co., Ltd. January-March 2009 Unit：RMB
Report period Same period of the previous year
Items Consolidated Parent company Consolidated Parent company
I. Total operating income 56,892,294.68 13,753,192.66 87,812,489.87 12,181,652.86
Including：Operating income 56,892,294.68 13,753,192.66 87,812,489.87 12,181,652.86
Interest income
Insurance gained
Commission charge and
commission income
II. Total operating cost 52,554,109.05 8,430,487.02 85,019,082.88 9,363,139.46
Including：operating cost 38,573,202.87 532,867.11 69,297,503.43 960,149.37
Interest expense
Commission charge and
commission expense
Cash surrender value
Net amount of expense of
compensation
Net amount of withdrawal of
insurance contract reserve
Bonus expense of guarantee slip
Reinsurance expense
Operating tax and extras 995,621.08 687,799.26 893,872.17 585,313.25
Sales expenses 3,178,774.25 367,701.55 3,778,932.59 362,554.40
Administration expenses 9,032,628.33 6,337,950.18 9,570,540.32 6,375,061.93
Financial expenses 773,882.52 504,168.92 1,494,125.13 1,080,060.51
Losses of devaluation of assets -15,890.76
Add：changing income of fair
value
Investment income 7,087,669.04 7,087,669.04 6,613,270.42 6,613,270.42
Including：Investment income on
affiliated company and joint
venture
583,092.56 1,418,380.48
Exchange income
III.Operating profit 11,425,854.67 12,410,374.68 9,406,677.41 9,431,783.82
Add：non-operating income 755,990.70 755,265.70 1,755.25
less：non-operating expense 12,054.65 20,888.96
Including：disposal loss of
non-current assets
IV. Total profit 12,169,790.72 13,165,640.38 9,387,543.70 9,431,783.82
Less：expense of income tax 2,754,059.80 2,516,509.56 1,726,490.02 1,462,637.51
V. Net profit 9,415,730.92 10,649,130.82 7,661,053.68 7,969,146.31
Net profit attributable to owner’s
equity of parent company 9,415,730.92 7,917,367.62
Minority shareholders’ gains
and losses -256,313.94
VI. Earnings per shareShenzhen Textile (Holdings) Co., Ltd. Quarterly Report for the Frist Quarter of 2009
8
（i）basic earnings per share 0.04 0.04 0.03 0.03
（ii）Diluted earnings per share 0.04 0.04 0.03 0.03
4.3 Cash flow statement
Prepared by: Shenzhen Textile (Holdings) Co., Ltd. January-March 2009 Unit：RMB
Report period Same period of the previous year
Items Consolidated Parent company Consolidated Parent company
I.Cash flows from operating
activities
Cash received from sales of
goods or rending of services 81,334,936.47 10,682,044.59 116,473,305.38 13,298,849.70
Net increase of
customer deposits and capital
kept for brother company
Net increase of loans
from central bank
Net increase of inter-bank
loans from other financial
bodies
Cash received against
original insurance contract
Net cash received from
reinsurance business
Net increase of client
deposit and investment
Net increase of trade
financial asset disposal
Cash received as interest,
processing fee and
commission
Net increase of inter-bank
fund received
Net increase of repurchasing
business
Tax returned 6,626,177.45 3,311,591.43
Other cash received from
business operation
3,155,768.90 2,569,763.01 3,326,341.69 5,538,239.01
Sub-total of cash inflow 91,116,882.82 13,251,807.60 123,111,238.50 18,837,088.71
Cash paid for purchasing
of merchandise and services 63,670,928.48 626,768.93 88,092,655.80 1,199,385.14
Net increase of client
trade and advance
Net increase of savings n
central bank and brother
company
Cash paid for original
contract claimShenzhen Textile (Holdings) Co., Ltd. Quarterly Report for the Frist Quarter of 2009
9
Cash paid for interest,
processing fee and
commission
Cash paid for policy
dividend
Cash paid to staffs or paid
for staffs
8,533,914.10 2,990,152.62 8,363,980.52 2,831,219.80
Taxes paid 2,868,872.45 492,604.04 3,089,028.94 1,140,750.16
Other cash paid for business
activities
10,039,403.72 3,949,129.30 14,106,590.11 5,381,347.18
Sub-total of cash outflow
from business activities
85,113,118.75 8,058,654.89 113,652,255.37 10,552,702.28
Cash flow generated by
business operation, net
6,003,764.07 5,193,152.71 9,458,983.13 8,284,386.43
II.Cash flow generated by
investing
Cash received from
investment retrieving
2,255,633.10 2,255,633.10 1,168,193.47 778,865.71
Cash received as investment
gains
7,900,279.15 7,438,448.20 5,307,250.56 5,307,250.56
Net cash retrieved from
disposal of fixed assets,
intangible assets, and other
long-term assets
1,000.00 6,676,400.00 6,666,900.00
Net cash received from
disposal of subsidiaries or
other operational units
Other investment-related
cash received
Sub-total of cash inflow due
to investment activities
10,156,912.25 9,694,081.30 13,151,844.03 12,753,016.27
Cash paid for construction
of fixed assets, intangible
assets and other long-term
assets
1,372,816.77 1,216,378.77 7,517,717.09 7,262,534.09
Cash paid as investment
Net increase of loan
against pledge
Net cash received from
subsidiaries and other
operational units
Other cash paid for
investment activities
30,734,094.80
Sub-total of cash outflow
due to investment activities
1,372,816.77 1,216,378.77 38,251,811.89 7,262,534.09
Net cash flow generated by
investment
8,784,095.48 8,477,702.53 -25,099,967.86 5,490,482.18
III.Cash flow generated by
financingShenzhen Textile (Holdings) Co., Ltd. Quarterly Report for the Frist Quarter of 2009
10
Cash received as investment
Incl: Cash received as
investment from minor
shareholders
Cash received as loans 25,000,000.00 25,000,000.00 84,000,000.00 84,000,000.00
Cash received from bond
placing
Other financing –related
ash received
Sub-total of cash inflow
from financing activities
25,000,000.00 25,000,000.00 84,000,000.00 84,000,000.00
Cash to repay debts 36,000,000.00 34,000,000.00 84,000,000.00 84,000,000.00
Cash paid as dividend,
profit, or interests
734,344.25 534,763.00 1,449,271.46 1,199,430.50
Incl: Dividend and profit
paid by subsidiaries to minor
shareholders
Other cash paid for
financing activities
2,500,000.00 2,500,000.00
Sub-total of cash outflow
due to financing activities
39,234,344.25 37,034,763.00 85,449,271.46 85,199,430.50
Net cash flow generated by
financing
-14,234,344.25 -12,034,763.00 -1,449,271.46 -1,199,430.50
IV.Influence of exchange rate
alternation on cash and cash
equivalents
7,099.04 7,099.04 -4,737.61 -4,737.61
V.Net increase of cash and
cash equivalents
560,614.34 1,643,191.28 -17,094,993.80 12,570,700.50
Add: balance of cash and
cash equivalents at the
beginning of term
84,022,925.18 35,807,908.88 124,908,748.97 51,415,565.66
VI. Balance of cash and cash
equivalents at the end of term 84,583,539.52 37,451,100.16 107,813,755.17 63,986,266.16
4.4 Auditor’ report
Auditor’s opinions: Not audited
This Report has been prepared in both Chinese and English. In case of any discrepancy, the
Chinese version shall prevail.
The Board of Directors of Shenzhen Textile (Holdings) Co., Ltd.
April 28,2009
