China Fangda Group Co., Ltd. The 3rd Quarterly Report 2011 (Full Text)
China Fangda Group Co., Ltd.
The 3rd Quarterly Report 2011 (Full Text)
§1 Important Declaration
1.1 The Board of Directors and the directors of the Company guarantee that there are no significant omissions,
fictitious or misleading statements carried in the Report and we will accept individual and joint responsibilities for
the truthfulness, accuracy and completeness of the Report.
1.2 Directors other than the followings presented at the Board Meeting on which this report was examined:
Name of the director absented Position Reason for not presenting the meeting Name of consignee
Guo Jinlong Independent Director Business engagement Huang Yaying
1.3 The 3rd Quarterly Report is not audited by CPA.
1.4 Mr. Xiong Jianming, the Chairman, Mr. Lin Kebing, the Financial Principal, and Mr. Chen Yonggang, the
Accounting Manager hereby declares that: The financial statements carried in this quarterly report are of authentic
and complete.
§2 Company Profile
2.1 Financial highlights
In RMB Yuan
2011.9.30 2010.12.31 Extent of Change (%)
Gross Assets (RMB) 2,043,166,723.13 1,991,161,158.84 2.61%
Owners’ equity attributable to the
1,062,361,425.39 1,009,990,739.07 5.19%
shareholders of the listed company (yuan)
Capital shares (shares) 756,909,905.00 504,606,604.00 50.00%
Net asset per share attributable to the
shareholders of the listed company 1.40 2.00 -30.00%
(Yuan/share)
Changed over the same Changed over the same
Jul-Sept 2011 Jan-Sept 2011
period of last year (%) period of last year (%)
Turnover (yuan) 318,464,683.46 7.24% 897,619,077.14 24.61%
Net profit attributable to shareholders of the
6,956,948.06 -29.23% 53,051,646.32 22.13%
listed company (yuan)
Net Cash flow generated by business
- - -61,386,955.17
operation (RMB)
Net Cash flow per share generated by
- - -0.08
business operation (yuan/share)
Basic earnings per share (Yuan/share) 0.01 0.00% 0.070 16.67%
Diluted earnings per share (Yuan/share) 0.01 0.00% 0.070 16.67%
Weighted average net
0.66% -0.33% 5.12% -0.64%
income/asset ratio (%)
Weighted average net
income/asset ratio less non-recurring 0.77% -0.03% 4.49% 1.69%
gain/loss(%)
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China Fangda Group Co., Ltd. The 3rd Quarterly Report 2011 (Full Text)
Non-recurring gain and loss items
√ applicable □ not applicable
In RMB Yuan
Non-recurring gain and loss items Amount Note (if applicable)
Gain/loss of non-current assets -2,064,947.35
Government subsidies accounted into current gain/loss account, other than those closely
related to the Company’s common business, comply with the national policy and continues 309,300.00
to enjoy at certain fixed rate or amount.
Capital adoption fee collected from non-financial organizations and accounted into current Retrieving of interest of
4,976,766.62
gain/loss project payment overdue
Gain/loss from change of fair value of investment property measured at fair value in
5,082,327.66
follow-up measurement
Other non-business income and expenditures other than the above 891,244.63
Influenced amount of minority shareholders’ equity -2,310,610.28
Influenced amount of income tax -386,783.16
Total 6,497,298.12 -
2.2 Total of shareholders and the top 10 holders of unconditional shares
in shares
Total shareholders at the end of the report
80,469
period (accounts)
Top ten holders of the shares without subscription limitation
Amount of unconditional shares held at the end
Full name of shareholder Categories
of report term
Shenzhen Banglin Technologies Development
68,774,273 RMB common shares
Co., Ltd.
Shenzhen Shilihe Investment Co., Ltd. 17,860,992 RMB common shares
Wang Shaolin 16,800,000 RMB common shares
Foreign shares placed in domestic
Onforce International Ltd. 12,300,000
exchange
Chen Binblin 11,580,000 RMB common shares
Shi Baozhong 4,533,731 RMB common shares
Foreign shares placed in domestic
Cao Yifan 3,320,865
exchange
CITIC Securities Co., Ltd. - Client credit
3,012,500 RMB common shares
deposit account
Foreign shares placed in domestic
Chen Lihong 2,305,365
exchange
Foreign shares placed in domestic
Zhen Fan 1,980,000
exchange
§3 Significant Events
3.1 Details and causations of major change in major accounting subjects and financial indices
√ applicable □ not applicable
1. Notes receivable reduced by 89.93% from the beginning of year, which was caused by due of accepted drafts;
2. Prepaid account increased by 282%, which was caused by prepayment made for projects and services, and prepayment for
construction projects;
3. Other receivables increased by 38.08%, which was caused by increasing of secure money;
4. Construction in process reduced by 50.58%, which was caused by transferring of equipment to be installed into fixed asset;
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China Fangda Group Co., Ltd. The 3rd Quarterly Report 2011 (Full Text)
5. Pre-collected account increased by 130.09%, which was caused by increase of pre-collected accounts for projects;
6. Notes payable reduced by 48.09%, which was caused by due and disburse of notes;
7. Other payable accounts increased by 46.95%, which was caused by receiving of secure money;
8. Asset impairment loss reduced by 160.34% YOY, which was caused by retrieving of overdue debts;
9. Investment gains reduced by 97.49% YOY, which was caused by disposing of salable financial assets;
10. Non-operational income reduced by 56.28% YOY, which was caused by retrieving of the land using rights owned by Fangda
Aluminum Co. by Nanchang High Tech Zone Administration during last year;
11. Non-business expenditure increased by 104.28% YOY, which was caused by disposing of fixed assets in the report period.
3.2 Progress of significant events, their influence, countermeasures, and analysis
3.2.1 None-standard opinions
□applicable √ not applicable
3.2.2 Illegal providing of capital or guarantees to the holding shareholder or its related parties or external
parties
□applicable √ not applicable
3.2.3 Signing and execution of major business contracts
√ applicable □ not applicable
(1) Shenyang Xingmo’er Shopping Mall curtain wall project is proceeding as scheduled by the contract;
(2) Shenzhen Jiali Plaza phase II is on schedule according to the contract.
(3) China ASEAN (Liuzhou) Industry Product Trade Center curtain wall project was on schedule according to the contract;
(4) Sanya Phoenix Island International Resort apartment 1, 2, 3, and 4 curtain wall project is proceeding as scheduled by the contract;
(5) Shenzhen Airport T3 Tower curtain wall project is proceeding as scheduled by the contract;
(6) Shenzhen Zhongguanghe Building curtain wall project is proceeding according to the contract;
(7) Xi’an Metro Line 1 PSD project is proceeding according to the contract;
(8) Wuhan Rail Line 2 phase I PSD system was on schedule according to the contract;
(9) Dalian Metro safe door system project was on schedule.
3.2.4 Misc.
√ applicable □ not applicable
I. The Company neither provided capital to the holding shareholder or other related parties nor provided any guarantee to external
parties;
II. No shareholder holding over 30% of shares of the Company, therefore no shareholder with over 30% shares proposed or
practiced share increasing plan.
III. No cash dividend was distributed in the report term;
IV. No investment on securities or derivate instruments conducted by the Company;
V. In the report term, there isn’t any particular sales, project contracting or service providing contract accounted for over 50% of
the main business turnover as audited, or with absolute amount over RMB1 billion.
VI. On March 31, 2010, the Company sued to the Middle Court of Guangzhou claiming for protection of the Company’s two
patent rights violated by Panasonic Electronics (China) Ltd. in proceeding of PSD system of Guangzhou Metro. The claiming was to
stop the violating activity and compensation of RMB10 million. This case was in trial process.
VII. In 2010, Wang Weihong sue to Chongqing Middle Court against Fangda Decoration – one of the Company’s subsidiaries,
claiming for RMB17.07 million project payment and interests. This case was in trial process.
VIII. Statement on the progress of internal operation standardizing in the 3 rd quarter of 2011
According to the Enterprise Internal Control Criteria issued jointly by the five national departments, and the Notice on
Implementing of Internal Control Criteria in PLCs located in Shenzhen, the Company has planned and implemented a number of
preparation works in the 3rd quarter of 2011.
1. Executing of works
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China Fangda Group Co., Ltd. The 3rd Quarterly Report 2011 (Full Text)
(1) Editing of “Fangda Group Internal Control Manual (draft)” was completed, and verification works has been deployed to
support following internal verification processes.
(2) Upon discovering of the main defaults in operation, the “Internal Control Improving Plan” has been produced and
implemented thereafter.
(3) A meeting was held on implementing of internal control, and overall arrangement has been made on implementing, testing and
evaluation procedures;
(4) Rehearsal of the “China Fangda Group Internal Control Manual, documentation quality was tested in operation.
(5) The Internal Control System Testing Team was founded to study and test the procedures, to prepare for following up works.
(6) Revised the “Internal Auditing System”, the “Internal Control Standard Routine” and its schedules were fully implemented.
2. Comparison of practical progress and the schedule of Internal Control Plan
According to the five-stage arrangement made by the Administrative Team, the first five stages shall be completed at the end of
the 3rd quarter. As of September 30, the Administrative Team has basically accomplished the tasks setout by the Internal Control Plan.
3.3 Fulfilling of commitment issues made by the Company, shareholder, or substantial controller
Commitment made by the PLC, its directors, supervisors, executives, and shareholders with 5% or over shares of the Company, and
its substantial dominator in the report term or carried over to the report term:
□applicable √ not applicable
3.4 Estimated accumulative profit from the year beginning to the end of the next report period may be of
deficits; or in comparison with the same period of the previous year, give the warning of great change and
the notice to the reasons.
□applicable √ not applicable
3.5 Major events needs to be explained
3.5.1 Investment in securities
□applicable √ not applicable
3.5.2 Reception of investigations, communications, or interviews
No such investigation, communication or visiting happened in the report term.
3.6 Investment in derivate financial instruments
□applicable √ not applicable
3.6.1 Derivate financial instrument stock at end of report term
□applicable √ not applicable
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China Fangda Group Co., Ltd. The 3rd Quarterly Report 2011 (Full Text)
§4 Attachments
4.1 Balance Sheet
Prepared by China Fangda Group Co., Ltd. Ended Sept. 30, 2011 RMB Yuan
Ending balance Balance at the beginning of year
Items
Consolidated Parent company Consolidated Parent company
Current asset:
Monetary capital 377,475,167.26 23,640,697.33 506,295,863.70 30,547,718.91
Settlement provision
Outgoing call loan
Transactional financial assets
Notes receivable 1,660,000.00 16,491,007.92
Account receivable 551,717,244.70 6,195,719.35 396,673,564.76 7,917,726.90
Prepayment 77,440,813.72 458,307.70 20,266,020.05 366,736.00
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance contracts receivable
Interest receivable 114,906.67 51,300.00
Dividend receivable 15,366,500.00 43,936,500.00
Other account receivable 54,176,815.58 256,750,761.84 39,235,264.87 200,454,969.75
Repurchasing of financial assets
Inventories 215,146,838.97 280,285,486.41
Non-current asset due in 1 year
Other current asset
Total of current asset 1,277,731,786.90 302,411,986.22 1,259,298,507.71 283,223,651.56
Non-current assets
Disburse of consigned loans
Available-for-sale financial asset 3,451,000.00 3,451,000.00 4,347,000.00 4,347,000.00
Expired investment in possess
Long-term receivable
Long-term share equity investment 659,733,745.58 658,733,745.58
Investment real estates 274,539,465.81 265,380,365.81 271,226,332.73 262,602,432.73
Fixed assets 304,343,315.78 57,863,262.84 240,554,714.52 56,934,198.94
Construction in process 28,051,578.15 56,762,380.64 87,378.64
Engineering goods
Fixed asset disposal 586,285.67
Production physical assets
Gas & petrol
Intangible assets 111,315,141.20 9,808,798.17 114,530,578.15 10,323,163.72
R&D expense 1,028,630.77 1,182,970.28
Goodwill 8,197,817.29 8,197,817.29
Long-term amortizable expenses 2,792,726.81 3,062,071.65
Differed income tax asset 31,715,260.42 15,040,211.33 31,412,500.20 15,161,997.10
Other non-current asset
Total of non-current assets 765,434,936.23 1,011,277,383.73 731,862,651.13 1,008,189,916.71
Total of assets 2,043,166,723.13 1,313,689,369.95 1,991,161,158.84 1,291,413,568.27
Current liabilities
Short-term loans 403,000,000.00 210,000,000.00 397,000,000.00 200,000,000.00
Loan from Central Bank
Deposit received and hold for others
Call loan received
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China Fangda Group Co., Ltd. The 3rd Quarterly Report 2011 (Full Text)
Trade off financial liabilities
Notes payable 31,264,232.67 60,226,018.65
Account payable 242,849,083.60 1,851,490.36 296,531,749.82 1,901,490.41
Prepayment received 111,151,878.95 693,045.60 48,308,874.47 715,925.50
Selling of repurchased financial assets
Fees and commissions receivable
Employees’ wage payable 11,712,868.89 469,290.71 14,047,721.00 881,767.40
Tax payable 26,605,838.08 711,588.21 21,520,643.71 930,370.30
Interest payable 690,654.94 401,800.00 610,850.84 308,275.00
Dividend payable
Other account payable 37,303,303.10 75,272,129.91 25,384,587.91 70,841,835.18
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 864,577,860.23 289,399,344.79 863,630,446.40 275,579,663.79
Non-current liabilities
Long-term borrowings
Bond payable
Long-term payable
Special payable
Anticipated liabilities 1,162,559.00 347,657.52
Differed income tax liability 29,961,813.57 29,443,852.42 28,289,997.60 27,852,316.45
Other non-recurring liabilities 4,350,000.00 4,564,850.00
Total of non-current liabilities 35,474,372.57 29,443,852.42 33,202,505.12 27,852,316.45
Total of liability 900,052,232.80 318,843,197.21 896,832,951.52 303,431,980.24
Owners’ equity (or shareholders’ equity)
Capital paid in (or share capital) 756,909,905.00 756,909,905.00 504,606,604.00 504,606,604.00
Capital reserves 81,449,753.92 42,049,098.54 334,434,014.92 295,033,359.54
Less: Shares in stock
Special reserves
Surplus reserves 17,834,977.97 17,834,977.97 17,834,977.97 17,834,977.97
Common risk provision
Retained profit 206,166,788.50 178,052,191.23 153,115,142.18 170,506,646.52
Different of foreign currency translation
Total of owner’s equity belong to the parent company 1,062,361,425.39 994,846,172.74 1,009,990,739.07 987,981,588.03
Minor shareholders’ equity 80,753,064.94 84,337,468.25
Total of owners’ equity 1,143,114,490.33 994,846,172.74 1,094,328,207.32 987,981,588.03
Total of liabilities and owners’ equity 2,043,166,723.13 1,313,689,369.95 1,991,161,158.84 1,291,413,568.27
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China Fangda Group Co., Ltd. The 3rd Quarterly Report 2011 (Full Text)
4.2 Income Statement of the report term
Prepared by: China Fangda Group Co., Ltd. Jul-Sept 2011 RMB Yuan
Amount of the Current Term Amount of the Previous Term
Items Parent Parent
Consolidated Consolidated
company company
I. Total revenue 318,464,683.46 11,099,943.23 296,966,441.24 11,184,761.30
Incl. Business income 318,464,683.46 11,099,943.23 296,966,441.24 11,184,761.30
Interest income
Insurance fee earned
Fee and commission received
II. Total business cost 311,443,469.29 9,042,329.04 288,861,922.54 10,805,118.50
Incl. Business cost 263,253,380.35 3,119,008.62 243,732,694.55 2,822,319.03
Interest expense
Fee and commission paid
Insurance discharge payment
Net claim amount paid
Net insurance policy reserves provided
Insurance policy dividend paid
Reinsurance expenses
Business tax and surcharge 7,829,049.04 1,272,146.25 4,117,694.18 448,573.30
Sales expense 6,805,554.94 297,014.75 9,348,182.96 192,906.12
Administrative expense 27,066,517.01 3,878,076.44 23,885,309.26 5,157,596.89
Financial expenses 5,249,826.22 431,914.62 4,576,303.28 2,149,756.17
Asset impairment loss 1,239,141.73 44,168.36 3,201,738.31 33,966.99
Plus: Gains from change of fair value (“-“ for loss) 2,176,467.76 2,110,967.76
Investment gain (“-“ for loss) 64,444.44 64,444.44 -700.00
Incl. Investment gains from affiliates
Gains from currency exchange (“-“ for loss)
III. Operational profit (“-“ for loss) 7,085,658.61 2,122,058.63 10,280,286.46 2,490,610.56
Plus: Non business income 1,096,590.77 237,270.45 256,133.42 17,000.00
Less: Non-business expenses 1,856,153.56 66,759.30 30,000.00
Incl. Loss from disposal of non-current assets
IV. Gross profit (“-“ for loss) 6,326,095.82 2,359,329.08 10,469,660.58 2,477,610.56
Less: Income tax expenses 978,953.00 288,804.45 1,640,874.13 588,628.68
V. Net profit (“-“ for net loss) 5,347,142.82 2,070,524.63 8,828,786.45 1,888,981.88
Net profit attributable to the owners of parent company 6,956,948.06 2,070,524.63 9,830,018.98 1,888,981.88
Minor shareholders’ equity -1,609,805.24 -1,001,232.53
VI. Earnings per share:
(I) Basic earnings per share 0.01 0.01
(II) Diluted earnings per share 0.01 0.01
VII. Other misc. incomes -654,360.00 -654,360.00 2,474,095.00 1,042,720.00
VIII. Total of misc. incomes 4,692,782.82 1,416,164.63 11,302,881.45 2,931,701.88
Total of misc. incomes attributable to the owners of the parent
6,302,588.06 1,416,164.63 12,304,113.98 2,931,701.88
company
Total misc gains attributable to the minor shareholders -1,609,805.24 -1,001,232.53
Merger of entities under common control, the net profit realized by the merged party was RMB0.00.
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China Fangda Group Co., Ltd. The 3rd Quarterly Report 2011 (Full Text)
4.3 Income Statement from the beginning of year to the end of report term
Prepared by: China Fangda Group Co., Ltd. Jan-Sept 2011 RMB Yuan
Amount of the Current Term Amount of the Previous Term
Items Parent Parent
Consolidated Consolidated
company company
I. Total revenue 897,619,077.14 31,149,869.31 720,346,203.98 29,743,006.90
Incl. Business income 897,619,077.14 31,149,869.31 720,346,203.98 29,743,006.90
Interest income
Insurance fee earned
Fee and commission received
II. Total business cost 845,882,922.46 26,555,411.29 698,797,122.84 29,425,577.00
Incl. Business cost 723,528,647.73 8,270,327.13 582,900,345.14 7,600,160.18
Interest expense
Fee and commission paid
Insurance discharge payment
Net claim amount paid
Net insurance policy reserves provided
Insurance policy dividend paid
Reinsurance expenses
Business tax and surcharge 16,609,274.35 2,469,488.78 11,386,079.38 1,184,932.97
Sales expense 20,843,277.36 548,181.73 22,081,238.31 797,716.40
Administrative expense 73,291,821.99 13,670,769.26 63,607,210.77 14,838,081.52
Financial expenses 14,057,612.50 2,354,606.57 14,765,900.41 5,210,875.97
Asset impairment loss -2,447,711.47 -757,962.18 4,056,348.83 -206,190.04
Plus: Gains from change of fair value (“-“ for loss) 5,082,327.66 4,547,127.66 8,729,924.08 8,609,224.08
Investment gain (“-“ for loss) 79,786.91 64,444.44 3,173,366.97
Incl. Investment gains from affiliates
Gains from currency exchange (“-“ for loss)
III. Operational profit (“-“ for loss) 56,898,269.25 9,206,030.12 33,452,372.19 8,926,653.98
Plus: Non business income 6,558,391.41 698,639.72 15,000,180.97 3,469,536.32
Less: Non-business expenses 2,446,027.51 430,763.39 1,197,371.72 430,960.00
Incl. Loss from disposal of non-current assets
IV. Gross profit (“-“ for loss) 61,010,633.15 9,473,906.45 47,255,181.44 11,965,230.30
Less: Income tax expenses 11,543,390.14 1,928,361.74 8,127,159.96 4,139,716.67
V. Net profit (“-“ for net loss) 49,467,243.01 7,545,544.71 39,128,021.48 7,825,513.63
Net profit attributable to the owners of parent company 53,051,646.32 7,545,544.71 43,438,600.40 7,825,513.63
Minor shareholders’ equity -3,584,403.31 -4,310,578.92
VI. Earnings per share:
(I) Basic earnings per share 0.070 0.06
(II) Diluted earnings per share 0.070 0.06
VII. Other misc. incomes -680,960.00 -680,960.00 -4,822,100.48 717,519.45
VIII. Total of misc. incomes 48,786,283.01 6,864,584.71 34,305,921.00 8,543,033.08
Total of misc. incomes attributable to the owners of the parent
52,370,686.32 6,864,584.71 38,616,499.92 8,543,033.08
company
Total misc gains attributable to the minor shareholders -3,584,403.31 -4,310,578.92
No merger of entities under common control since the beginning of year till the end of report period, therefore the net profit
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China Fangda Group Co., Ltd. The 3rd Quarterly Report 2011 (Full Text)
contributed by the merged entity was RMB0.00.
4.4 Cash Flow Statement from the beginning of year to the end of report term.
Prepared by: China Fangda Group Co., Ltd. Jan-Sept 2011 RMB Yuan
Amount of the Current Term Amount of the Previous Term
Items Parent
Consolidated Consolidated Parent company
company
I. Net cash flow from business operation
Cash received from sales of products and providing of
898,721,509.86 29,722,935.07 676,277,711.55 25,504,133.62
services
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 2,209,105.20 911,118.43
Other cash received from business operation 54,219,560.45 2,569,974.13 50,998,734.38 6,479,581.23
Sub-total of cash inflow from business activities 955,150,175.51 32,292,909.20 728,187,564.36 31,983,714.85
Cash paid for purchasing of merchandise and services 798,945,994.44 9,000,228.51 593,334,918.52 9,121,137.54
Net increase of client trade and advance
Net increase of savings in central bank and brother
company
Cash paid for original contract claim
Cash paid for interest, processing fee and commission
Cash paid for policy dividend
Cash paid to staffs or paid for staffs 68,955,283.56 5,833,785.14 51,700,696.12 4,514,151.71
Taxes paid 40,406,376.52 2,919,027.80 42,721,607.59 3,016,833.58
Other cash paid for business activities 108,229,476.16 8,750,019.01 87,939,410.72 13,049,682.09
Sub-total of cash outflow from business activities 1,016,537,130.68 26,503,060.46 775,696,632.95 29,701,804.92
Cash flow generated by business operation, net -61,386,955.17 5,789,848.74 -47,509,068.59 2,281,909.93
II. Cash flow generated by investing
Cash received from investment retrieving 854,089.54
Cash received as investment gains 79,786.91 28,634,444.44 3,176,516.97 66,800,000.00
Net cash retrieved from disposal of fixed assets, intangible
1,675,131.72 8,040.00 2,372,184.95
assets, and other long-term assets
Net cash received from disposal of subsidiaries or other
operational units
Other investment-related cash received 3,280,000.00
Sub-total of cash inflow due to investment activities 5,034,918.63 28,642,484.44 6,402,791.46 66,800,000.00
Cash paid for construction of fixed assets, intangible assets
44,230,339.39 1,319,780.00 36,566,978.97 1,460,864.11
and other long-term assets
Cash paid as investment 1,000,000.00 335,385,071.73
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China Fangda Group Co., Ltd. The 3rd Quarterly Report 2011 (Full Text)
Net increase of loan against pledge
Net cash received from subsidiaries and other operational
units
Other cash paid for investment activities 1,522,838.00
Sub-total of cash outflow due to investment activities 45,753,177.39 2,319,780.00 36,566,978.97 336,845,935.84
Net cash flow generated by investment -40,718,258.76 26,322,704.44 -30,164,187.51 -270,045,935.84
III. Cash flow generated by financing
Cash received as investment 340,499,960.00 340,499,960.00
Incl. Cash received as investment from minor shareholders
Cash received as loans 397,000,000.00 169,431,662.40 607,000,000.00 322,683,223.76
Cash received from bond placing
Other financing-related cash received
Subtotal of cash inflow from financing activities 397,000,000.00 169,431,662.40 947,499,960.00 663,183,183.76
Cash to repay debts 391,000,000.00 200,000,000.00 580,000,000.00 420,000,000.00
Cash paid as dividend, profit, or interests 16,310,680.84 8,202,492.50 13,606,869.75 7,619,498.75
Incl. Dividend and profit paid by subsidiaries to minor
shareholders
Other cash paid for financing activities 231,723.62 231,723.62 4,532,102.20 4,532,102.20
Subtotal of cash outflow due to financing activities 407,542,404.46 208,434,216.12 598,138,971.95 432,151,600.95
Net cash flow generated by financing -10,542,404.46 -39,002,553.72 349,360,988.05 231,031,582.81
IV. Influence of exchange rate alternation on cash and cash
-8,502.08 -20,146.53 2.70
equivalents
V. Net increase of cash and cash equivalents -112,656,120.47 -6,890,000.54 271,667,585.42 -36,732,440.40
Plus: Balance of cash and cash equivalents at the beginning
468,878,715.15 30,252,759.44 210,823,550.83 42,274,488.50
of term
VI. Balance of cash and cash equivalents at the end of term 356,222,594.68 23,362,758.90 482,491,136.25 5,542,048.10
4.5 Auditors’ Report
Auditor’s opinion: not audited.
China Fangda Group Co., Ltd.
Legal representative: Mr. Xiong Jianming
October 29, 2011
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