Full-text of 2017 Q1 Report of Shenzhen SEG Co., Ltd.
Shenzhen SEG Co., Ltd.
2017 Q1 Report
April 2017
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Full-text of 2017 Q1 Report of Shenzhen SEG Co., Ltd.
Chapter 1 Important Notice and Definition
The Board of Directors, the Board of Supervisors, the directors, the
supervisors, and the senior executives guarantee that the quarterly report is
authentic, accurate, and complete, and that it has no false records, misleading
statements or major omissions, and they undertake joint and several legal
liabilities.
All directors have attended the meeting of the Board of Directors and
reviewed the quarterly report.
Chairman of the Board Wang Li, Chief Financial Officer Liu Zhijun, and
the responsible person of the accounting institution (accountant in charge) Ying
Huadong hereby declare that the Financial Statements enclosed in this quarterly
report are true, accurate and complete.
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Definition
Definition Refers to Description
This Company, the Company refers to Shenzhen SEG Co., Ltd.
Shenzhen SEG Group Co., Ltd. refers to Shenzhen SEG Group Co., Ltd.
Suzhou SEG refers to Suzhou SEG Electronics Market Management Co., Ltd.
SEG Industry refers to Shenzhen SEG Industrial Investment Co., Ltd.
Nanning SEG refers to Nanning SEG Digital Plaza Management Co., Ltd.
SEG Longyan Technology refers to Shenzhen SEG Longyan Energy Technology Co., Ltd.
SEG Real Estate Investment refers to Shenzhen SEG Real Estate Investment Co., Ltd.
SEG Kangle refers to Shenzhen SEG Kangle Enterprise Development Co., Ltd.
SEG Property Development refers to Shenzhen SEG Property Development Co., Ltd.
SegMaker refers to Shenzhen SegMaker Co., Ltd.
SEG E-commerce refers to Shenzhen SEG E-commerce Co., Ltd.
SEG Credit refers to Shenzhen SEG Credit Co., Ltd.
Shenzhen Branch of Huarong Asset refers to Shenzhen Branch of China Huarong Asset Management Co., Ltd.
SEG Lianzhong refers to Shenzhen SEG Lianzhong Internet Technology Co., Ltd.
State-owned Assets Supervision and Administration Commission of
Shenzhen SASAC refers to
Shenzhen
CSRC refers to China Securities Regulatory Commission
Unless otherwise specified, the amount referred
refers to Amount in RMB
to in the report
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Full-text of 2017 Q1 Report of Shenzhen SEG Co., Ltd.
Chapter 2 Basic Information about the Company
I. Major accounting data and financial indexes
Are retrospective adjustments made to previous financial statements of the Company due to accounting policy changes or accounting
errors?
√Yes □No
Year-on-year
Amount of the same period of the increase/decrease
Amount of the report previous year in the report
period period
Before After
After adjustment
adjustment adjustment
Operating income (Yuan) 317,456,442.86 191,126,945.65 438,455,160.52 -27.60%
Net profit attributable to shareholders of
31,609,057.25 17,696,110.04 91,324,739.57 --65.39%
the listed company (Yuan)
Net profit attributable to shareholders of
the listed company after deduction of 30,418,650.93 17,696,110.04 55,381,307.31 -45.07%
non-recurring gains and losses (Yuan)
Net cash flow arising from operating
44,232,089.23 -30,744,760.42 -81,678,997.79 --
activities (Yuan)
Basic EPS (Yuan/Share) 0.0256 0.0225 0.0739 -65.36%
Diluted EPS (Yuan/Share) 0.0256 0.0225 0.0739 -65.36%
Weighted average ROE 1.50% 1.19% 4.08% -2.58%
Year-on-year
Amount at the end of the previous increase/decrease
Amount at the end of the year in the report
report period period
Before After
After adjustment
adjustment adjustment
2,548,276,265. 6,972,216,296.
Total assets (Yuan) 7,385,516,773.94 5.93%
32 97
Net assets attributable to shareholders of 1,548,200,647. 2,417,833,544.
1,782,928,320.23 -26.26%
the listed company (Yuan) 55 09
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Full-text of 2017 Q1 Report of Shenzhen SEG Co., Ltd.
According to the Reply from Shenzhen SASAC to Approve Shenzhen SEG Co., Ltd. to Issue Shares to Purchase Assets and
Raising Supporting Funds from Shenzhen SEG Group Co., Ltd.,(Z. J. X. K. [2017] No.21), the Company has issued 450,857,239
shares to the controlling shareholder Shenzhen SEG Group Co., Ltd. to purchase the assets of the said four object companies. Such a
case of asset acquisition belongs to the merger of enterprises under the same control. Thus, according to the No.20 – Enterprises
Merge of Accounting Standards for Business Enterprises (ASBE), the Company’s financial statements should be retroactively
adjusted.
The cause why the net profit attributable to the owner of parent company decreased by 65.39% compared with that of last year
(after adjustment) is that SEG Real Estate transferred 48 sets of real estate and received the non-operating revenue of 60.59 million
Yuan whereas there was no such revenue in the report period. In addition, part of real estate development projects of SEG Real Estate
has not yet reached the time-point for recognizing income in the report period. Therefore, the amount of pre-sales already received
has not been transferred into income for accounting in this report period, affecting the profit of the current period to some extent. In
the future, along side with the recognition of the said business income step by step, the performance of the Company will be
improved effectively.
The net profit attributable to the parent company in the report period (after deducting non-recurring items) decreased by
45.07%, compared with that in the same period of last year (after adjustment). The causes are as follows. 1. In the same period of last
year, there was considerable profit and loss from carrying over the house payment of Huizhou Qunxing real estate project of SEG
Real Estate, whereas in the report period, such house payment became less because the sales of that project entered into the ending
stage. In addition, although the New City Plaza project of SEG Real Estate cannot satisfy the conditions of recognizing income in the
report period, it is estimated that from the fourth quarter of the year 2017, this project will start partly carrying over the profit and
loss from house payment. 2. Impacted by macro-economy and because of the interest-rate reduction, the net profit of SEG Credit’s
business decreased by 9 million Yuan. 3. Nantong SEG Times Plaza did not start operation until the end of the year 2016 but the
expenses of market promotion in the earlier stage of operation was quite large, resulting in the net profit of the Company decreased
by 2.95 million Yuan.
Items and amount of non-recurring gains and losses
√Applicable □ Not Applicable
Unit: Yuan
Amount from the
Item beginning of year to the Remarks
end of the period
Profit or loss from disposing non-current assets (including the
-11,548.10
charge against the provisions for asset impairment withdrawn)
Subsidy from government calculated into the profit or loss of
Funds from the
current period (excluding the government subsidy that closely
construction-supporting project
relates to the Company’s business and is enjoyed according to 474,999.99
of Nantong SEG Electronics
the unified standard quota of the state or on the basis of fixed
Market
quantity)
Other non-operating incomes and expenses except for the Mainly the income from
1,229,947.96
above-mentioned liquidated damages
Less: Amount affected by income tax 411,639.86
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Amount affected by the equity of the minority
91,353.67
shareholders (after-tax)
合计 Total 1,190,406.32 --
An explanation shall be made with regard to the Company's considerations for defining non-recurring profit and loss according to the
Explanatory Announcement No.1 on Information Disclosure for Companies Offering Securities to the Public - Non-recurring Profit
and Loss and the reason of classifying the non-recurring profit and loss listed in this announcement as recurring.
□ Applicable √ Not applicable
In the Company’s report period, no such cases exist that should be defined as recurring profit and loss, according to the classification
standard of non-recurring profit and loss defined and listed in the above-mentioned Explanatory Announcement No.1 on Information
Disclosure for Companies Offering Securities to the Public - Non-recurring Profit and Loss.
II. Total number of shareholders and shares held by top 10 shareholders at the end of the
report period
1. Total number of ordinary shareholders and preferred shareholders restored with voting rights and
shares held by top 10 shareholders
Unit: Share
Total number of ordinary Total number of preferred
shareholders at the end of the report 73,299 shareholders restored with the 0
period voting rights (if any)
Shares held by top 10 shareholders
Quantity of Information on pledged or frozen
Name of Nature of Proportion of
Shares held restricted shares shares
shareholder shareholder shareholding
held Share status Quantity
Shenzhen SEG State-owned legal
55.70% 688,216,905 450,857,239
Group Co., Ltd. person
China
Construction
Bank – Baoying
resource Others 1.52% 18,842,044 0
optimization
hybrid securities
investment fund
Domestic natural
Liu Guocheng 0.55% 6,804,502 0
person
Zhang Jiao Domestic natural 0.33% 4,046,989 0
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person
Overseas natural
Liu Guohong 0.27% 3,295,658 0
person
Domestic natural
Gong Qianhua 0.24% 2,940,000 0
person
Domestic natural
Zeng Ying 0.19% 2,300,000 0
person
China Securities
Domestic
Finance
non-state-owned 0.18% 2,271,900 0
Corporation
legal person
Limited
Foreign legal
NORGES BANK 0.15% 1,890,226 0
person
China Hi-tech
State-owned legal
Group 0.12% 1,500,000 0
person
Corporation
Information on top 10 shareholders of non-restricted shares
Type of share
Name of shareholder Quantity of unrestricted ordinary shares held
Type of share Quantity
RMB ordinary
Shenzhen SEG Group Co., Ltd. 237,359,666 237,359,666
shares
China Construction Bank – Baoying
RMB ordinary
resource optimization hybrid 18,842,044 18,842,044
shares
securities investment fund
Domestically
Liu Guocheng 6,804,502 listed foreign 6,804,502
shares
RMB ordinary
Zhang Jiao 4,046,989 4,046,989
shares
Domestically
Liu Guohong 3,295,658 listed foreign 3,295,658
shares
Domestically
Gong Qianhua 2,940,000 listed foreign 2,940,000
shares
Domestically
Zeng Ying 2,300,000 listed foreign 2,300,000
shares
China Securities Finance 2,271,900 RMB ordinary 2,271,900
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Full-text of 2017 Q1 Report of Shenzhen SEG Co., Ltd.
Corporation Limited shares
Domestically
NORGES BANK 1,890,226 listed foreign 1,890,226
shares
RMB ordinary
China Hi-tech Group Corporation 1,500,000 1,500,000
shares
Explanations on the association Shenzhen SEG Group Co., Ltd. has no association relationship with other shareholders and is
relationship or concerted action not a person acting in concert with other shareholders as specified in the Management
among the above-mentioned Methods for Disclosure of Information on Changes of Shareholding Status of Shareholders of
shareholders Listed Companies. It is unclear whether other shareholders are persons acting in concert.
Information on top 10 ordinary In the foregoing top 10 shareholders, Zhang Jiao holds 0 share of the Company in the
shareholders participating in ordinary account and 4,046,989 shares in the margin trading investor credit account, which
securities margin trading (if any) are 4,046,989 shares in total.
Did top 10 ordinary shareholders of the Company or top 10 ordinary shareholders of non-restricted shares conduct agreed repurchase
transactions in the report period?
□ Yes √ No
The Company’s top 10 ordinary shareholders or the top 10 shareholders of non-restricted shares did not conduct any agreed
repurchase transaction in the report period.
2. Total number of preferred shareholders and shares held by top 10 preferred shareholders
□ Applicable √ Not applicable
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Full-text of 2017 Q1 Report of Shenzhen SEG Co., Ltd.
Chapter 3 Important Matters
I. Changes in main financial data and financial indicators of the report period and reasons
√ Applicable □ Not applicable
(I) Items in Consolidated Balance Sheet Statement
Unit: Yuan
Item Closing balance Opening balance Difference +/- % year-on-year
Loans to other banks - 40,000,000.00 -40,000,000.00 -100.00%
Notes receivable 150,000.00 100,792.00 49,208.00 48.82%
Interest receivable - 287,698.63 -287,698.63 -100.00%
Other non-current assets 13,804,660.46 -13,804,660.46 -100.00%
Short-term borrowing 485,000,000.00 355,000,000.00 130,000,000.00 36.62%
Payroll payable 18,354,882.09 38,282,699.37 -19,927,817.28 -52.05%
Dividends payable 3,162,970.78 15,132,970.78 -11,970,000.00 -79.10%
Other payables 1,539,360,478.91 872,477,573.33 666,882,905.58 76.44%
Share capital 1,235,656,249.00 784,799,010.00 450,857,239.00 57.45%
Capital reserve - 995,524,226.66 -995,524,226.66 -100.00%
Surplus reserve 121,803,040.24 -121,803,040.24 -100.00%
1. The loans to other banks decreased by 40,000,000 Yuan compared with that of last year with a fall of 100%.
The main cause is the Company’s holding subsidiary SEG Credit took back in the report period the loans to other
banks for the development of its own small credit business.
2. The notes receivable increased by 49,208 Yuan compared with that of last year, with a rise of 48.82%. The
main cause is the Company increased in the report period the rents received from clients paid by the bank’s
acceptance bill.
3. The interest receivable decreased by 287,698.63 Yuan compared with that of last year, with a fall of 100%. The
main cause is the Company received in the report period the interests of financing from banks, which had not received
yet by the beginning of the year.
4. The other non-current assets decreased by 13,804,660.46 Yuan compared with that of last year, with a fall
of 100%. The main causes are 1) Dongmen Branch of Mellow Orange Business Hotel of SEG Baohua, the
Company’s holding subsidiary, opened, and the decoration expenses in the earlier stage has been transferred into
long-term unamortized expenses for business accounting; 2) The decoration and transformation engineering of
electronics market has been finished, so the expenses of decoration engineering has also been transferred into
long-term unamortized expenses for business accounting.
5. The short-term borrowing increased by 130,000,000 Yuan compared with that of last year, with a rise of
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36.62%. The main cause is the Company increased bank loans in the report period.
6. The payroll payable decreased by 19,927,817.28 Yuan compared with that of last year, with a fall of
52.05%. The main cause is the Company paid in the report period for part of salaries and bonus withdrawn in last
year.
7. The dividends payable decreased by 11,970,000 Yuan compared with that of last year, with a fall of 79.1%.
The main cause is SEG credit paid in the report period the minority shareholders for dividends of 11,970,000
Yuan.
8. The other payables increased by 666,882,905.58 Yuan compared with that of last year, with a rise of
76.44%. The main cause is the Company formed in the report period a consideration in cash of 666,882,905.58
Yuan, which is payable but has not been paid, derived from introducing shares to the holding shareholder SEG
Group to acquire assets of the latter because of implementing major asset restructuring.
9. The share capital increased by 450,857,239 Yuan compared with that of last year, with a rise of 57.45%.
The main cause is the Company introduced in the report period 450,857,239 shares to SEG Group to acquire
underlying asset because of implementing major asset restructuring.
10. The capital reserve decreased by 995,524,226.66 Yuan compared with that of last year, with a fall of 100%.
The main cause is the Company introduced in the report period the shares to the holding shareholder SEG Group
to acquire the equity of the four object companies because of implementing major asset restructuring, belonging to
the merge of enterprises under the same control. The Company’s financial statements are adjusted retroactively.
The opening balance of capital reserve comprises the capital stock and considerations which are not adjusted
retroactively. The capital stock added on introduction basis and its considerations have been booked into account,
thus this item decreased after adjustment.
11. The surplus reserve decreased by 121,803,040.24 Yuan compared with that of last year, with a fall of
100%. The main cause is the Company introduced in the report period the shares to the holding shareholder SEG
Group to acquire the equity of the four object companies because of implementing major asset restructuring,
belonging to the merge of enterprises under the same control. According to ASBE, the Company took the book
portion of owner’s equity of the object companies as the initial cost of investment in long-term equity, and the
difference between the long-term investment in equity and the sum of the book value of shares issued and
considerations is to write down the capital reserve, and this item decreased after adjustment because the capital
reserve is less than the difference and not enough for such a writing-down.
(II) Items in Consolidated Profit Statement
Unit: Yuan
Item Amount incurred in the Amount incurred in the Difference +/- % year-on-year
current period same period of last year
(after adjustment)
Service charges and commissions
320,245.33 2,204,500.00 -1,884,254.67 -85.47%
income
Interest expenses 0.00 445,888.89 -445,888.89 -100.00%
Operating tax and surcharges 6,678,270.88 30,507,163.47 -23,828,892.59 -78.11%
Loss from asset impairment 0.00 192,094.76 -192,094.76 -100.00%
Income from investment 544,597.03 1,445,145.44 -900,548.41 -62.32%
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Non-operating revenue 1,841,331.56 60,886,048.66 -59,044,717.10 -96.98%
Income tax 18,096,458.88 46,992,683.69 -28,896,224.81 -61.49%
Net profit attributable to owners of
31,609,057.25 91,324,739.57 -59,715,682.32 -65.39%
the parent company
Profit and loss of minority
8,597,963.44 26,805,401.86 -18,207,438.43 -67.92%
shareholders
Other comprehensive incomes -43,532.53 -129,709.91 86,177.38 -66.44%
1. The Service charges and commissions income decreased by 1,884,254.67 Yuan compared with that of last
year, with a fall of 85.47%. The main cause is the consulting business of SEG Credit declined in the report period.
2. The interest expenses decreased by 445,888.89 Yuan compared with that of last year, with a fall of 100%.
The main cause is SEG Credit decreased in the report period the borrowings from banks compared with that of
last year and correspondingly reduced the expenses of borrowing interests.
3. The operating tax and surcharges decreased by 23,828,892.59 Yuan compared with that of last year, with a
fall of 78.11%. The main cause is the Company paid for VAT in the report period, whereas in the same period of
last year, the Company paid for business tax for the business of real estate development, electronics market and
property management and finance business before the reform of replacing business tax with VAT. VAT is one
kind of taxes excluded in price and is not listed in the profit statement, while the business tax is one kind of taxes
included in the calculated price and booked in the item of tax and surcharges.
4. The loss from asset impairment decreased by 192,094.76 Yuan compared with that of last year, with a fall
of 100%. The main cause is SEG Credit withdrew provisions for losses from loans, but nothing happened in this
item in the report period.
5. The income from investment decreased by 900,548.41 Yuan compared with that of last year, with a fall of
62.32%. The main cause is the yield rate of the Company’s bank financing became lower.
6. The non-operating revenue decreased by 59,044,717.10 Yuan compared with that of last year, with a fall of
96.98%. The main cause is SEG Real Estate received the non-operating revenue of 60.59 million Yuan after
transferred 48 sets of real estate in the same period of last year, whereas there was no such revenue in the report
period.
7. The income tax decreased by 28,896,224.81 Yuan compared with that of last year, with a fall of 61.49%.
The main cause is SEG Real Estate received the non-operating revenue of 60.59 million Yuan after transferred 48
sets of real estate in the same period of last year, thus the expenses of income tax increased correspondingly.
However, no such expenses from income tax from selling real estate happened in the report period.
8. The net profit attributable to owners of the parent company decreased by 59,715,682.32 Yuan compared
with that of last year, with a fall of 65.39%. The main cause is SEG Real Estate received the non-operating
revenue of 60.59 million Yuan after transferred 48 sets of real estate in the same period of last year, but no such
incomes happened in the report period. In addition, part of real estate development projects of SEG Real Estate
has not yet reached the time-point for recognizing income in the report period. Therefore, the amount of pre-sales
already received has not been transferred into income for accounting in this report period, affecting the profit of
the current period to some extent. In the future, along side with the recognition of the said business income step by
step, the performance of the Company will be improved effectively.
9. The profit and loss of minority shareholders decreased by 18,207,438.43 Yuan compared with that of last
year, with a fall of 67.92%. The main cause is the profit from selling real estate of SEG Real Estate and that from
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small credit business of SEG Credit dropped dramatically in the report period.
10. The other comprehensive incomes increased by 86,177.38 Yuan compared with that of last year. The main
cause is the share price of Youhao Group plummeted significantly compared with that calculated as the financial
asset available for sale according to fair value in the same period of last year. However, the range of price drop
became smaller in the report period.
(III) Items in Consolidated Cash Flow Statement
Unit: Yuan
Item Amount incurred in Amount incurred in the Difference +/- % year-on-year
the current period same period of last year
(after adjustment)
Tax refunds 0.00 15,225,827.36 -15,225,827.36 -100.00%
Other cash received from operating
151,852,405.60 233,315,459.69 -81,463,054.09 -34.92%
activities
Cash paid for goods and service 252,581,380.78 428,469,612.42 -175,888,231.64 -41.05%
Net increase in loans to customers and
-445,447.60 10,708,000.00 -11,153,447.60 -104.16%
advances
Taxes paid 77,195,936.81 49,395,417.67 27,800,519.14 56.28%
Cash received from withdrawal of
598,000,000.00 349,300,000.00 248,700,000.00 71.20%
investment
Net cash received from disposal of fixed
assets, intangible assets and other 12,781,888.65 3,915,829.59 8,866,059.06 226.42%
long-term assets
Cash paid for investment 514,980,001.00 317,800,000.00 197,180,001.00 62.05%
Borrowings received 370,000,000.00 550,920,000.00 -180,920,000.00 -32.84%
Cash paid for debt repayment 223,435,625.02 359,000,000.00 -135,564,374.98 -37.76%
Cash paid for dividend and profit
39,883,427.10 58,875,564.11 -18,992,137.01 -32.26%
distribution or interest payment
Other cash paid for financing activities 5,180,964.31 75,642,660.55 -70,461,696.24 -93.15%
1. The tax refunds decreased by 15,225,827.36 Yuan compared with that of last year, with a fall of 100%. The
main cause is SEG E-commerce received in the same period of last year the tax refunds of the said amount from
export for supply-chain business. The Company completed the procedures of equity transfer in 2016, so the cash
flow of SEG E-commerce was no longer consolidated into the Company’s Cash Flow Statement in the report
period.
2. The other cash received from operating activities decreased by 81,463,054.09 Yuan compared with the same
period of last year, with a fall of 34.92%. The main cause is the settlement amount of SEG E-commerce for
supply-chain business was 104.1 million Yuan in the same period of last year, whereas the Company completed
the procedures of equity transfer in 2016, so the cash flow of SEG E-commerce was no longer consolidated into
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the Company’s Cash Flow Statement in the report period.
3. The cash paid for goods and service decreased by 175,888,231.64 Yuan compared with that of last year,
with a fall of 41.05%. The main cause is SEG E-commerce received 149.79 million Yuan of the payment for
goods from domestic trade in the same period of last year, while the Company completed the procedures of equity
transfer in 2016, so the cash flow of SEG E-commerce was no longer consolidated into the Company’s Cash Flow
Statement in the report period. The trade business of SEG Industrial shrank and the payment for goods dropped,
leading to this item decreased by 235.2 million Yuan.
4. The net increase in loans to customers and advances decreased by 11,153,447.60 Yuan compared with that
of last year, with a fall of 104.16%. The main cause is the scale of loans issued by SEG Credit declined.
5. The taxes paid increased by 27,800,519.14 Yuan compared with that of last year, with a rise of 56.28%. The
main cause is SEG Real Estate increased the pre-sale of real estate as well as the pre-payment of tax.
6. The cash received from withdrawal of investment increased by 248,700,000.00 Yuan compared with that of
last year, with a rise of 71.2%. The main cause is the increase of principals of bank financing withdrawn by the
Company in the report period.
7. The net cash received from disposal of fixed assets, intangible assets and other long-term assets increased
by 8,866,059.06 Yuan compared with that of last year, with a rise of 226.42%. The main cause is the increase of
expenses of fixed assets purchased by the Company and the subsidiaries and of decoration at operating sites.
8. The cash paid for investment increased by 197,180,001.00 Yuan compared with that of last year, with a rise
of 62.05%. The main cause is the amount of the Company’s financing in banks increased in a rolling type in the
report period.
9. The borrowings received decreased by 180,920,000.00 Yuan compared with that of last year, with a fall of
32.84%. The main cause is the bank loans received by the Company became less in the report period.
10. The cash paid for debt repayment decreased by 135,564,374.98 Yuan compared with that of last year, with
a fall of 37.76%. The main cause is the bank loans due repaid by Company reduced in the report period.
11. The cash paid for dividend and profit distribution or interest payment decreased by 18,992,137.01 Yuan
compared with that of last year, with a fall of 32.26%. The main cause is the dividends distributed by the company
to the minority shareholders decreased.
12. Other cash paid for financing activities decreased by 70,461,696.24 Yuan compared with that of last year,
with a fall of 93.15%. The main cause is SEG E-commerce repaid the associated enterprises for borrowings and
interests of 45.45 million Yuan in the same period of last year, whereas the cash flow of SEG E-commerce was no
longer consolidated into the Company’s Cash Flow Statement in the report period. Besides, SEG Real Estate
repaid Zhuhai Minghao Group for the borrowing of 30 million Yuan in the same period of last year.
II. Progress and impacts of significant events and analysis of solutions
√ Applicable □ Not applicable
(I) Major assets restructuring
1. The Company launched a major assets restructuring plan in November 2015. According to the disclosed
major assets restructuring report, the Company plans to acquire 100% of the equity of SegMaker held by SEG
Group, 55% of the equity of SEG Kangle, 100% of the equity of SEG Property Development, and 79.02% of the
equity of SEG Real Estate Investment by issuance of shares (86.90%) and payment of cash (13.10%). In order to
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promote the integrated performance, the Company plans to raise supporting funds of no more than 100% of the
transaction price of assets to be purchased (or RMB 2 billion) through private placement to no more than 10
specific investors.
2. On January 17, 2017, the Company's application for issuing shares and paying cashes to acquire assets and
raise supporting funds & connected transaction has been approved by the Approval on Shenzhen SEG Co., Ltd.'s
Issuing Shares to Shenzhen SEG Group Co., Ltd. to Acquire Assets and Raise Supporting Funds (Z. J. X. K. [2017]
No. 21).
3. On January 19, 2017, SEG Group transferred the subject assets related to share issuance and cash payment
for assets acquisition. After the completion of alteration, the Company holds 100% of the equity of SegMaker,
55% of the equity of SEG Kangle, 100% of the equity of SEG Property Development, and 79.02% of the equity of
SEG Real Estate.
4. On January 21, 2017, Da Hua Certified Public Accountants (Special General Partnership) hired by the
Company verified newly-added capital stock of RMB 450,857,239 arising from share issuance of the Company,
and issued a verification report (D. H. Y. Zi. [2017] No. 000044).
5. On February 15, 2017, the Company received the Confirmation of Acceptance of the Application for Stock
Registration issued by Shenzhen Branch of China Securities Depository and Clearing Company Limited.
450,857,239 A shares were issued by the Company through private placement. The newly-added stocks are
restricted outstanding shares and listed from March 6, 2017. As a result, SEG Group holds 688,216,905 shares of
the Company, accounting for 55.7%.
The Company will accelerate fund raising with relevant intermediaries and timely perform the obligation of
information disclosure based on the progress.
After the said private placement, the core assets of SEG Group were injected into the listed company,
reducing horizontal competition to the greatest extent. The listed company after restructuring will be based on
electronics markets, commercial (industrial park) real estate, maker business, and CdTe film solar business,
promote interactive development with multiple business models, comprehensively integrate business resources,
build SEG new industrial eco-circle, create a diversified and strategic emerging industry development platform,
and develop into a leader in high-end manufacturing and services.
In terms of transformation of the existing specific main business, the Company will be based on electronics
markets, combine service advantages and customer resources of electronics markets, step up efforts to develop the
maker business, culture and education, intelligent technology, sports and entertainment, virtual experience,
e-sports, financial services, strategic emerging industries, high-end manufacturing and services, optimize and
integrate the business chain systems, and implement industrial transformation and upgrading.
(II) Lawsuits
1. Lawsuits of Nanning SEG
The Company received the summon and civil complaint from the People's Court of Xingning District on
September 26, 2016, which required the Company to appear at the court and respond to lawsuits (2016) G. 0102
M. C. No. 3653 (cause: dispute over the house leasing contract) and 2016) G. 0102 M. C. No. 3654 (dispute over
the property service contract) against the Company on November 20, 2016. The case is pending as of the
disclosure date of the report.
2. Arbitration and Lawsuit of Suzhou SEG
Zongheng International Electronic Expo City (Suzhou) Co., Ltd. ("Zongheng International") breached the
Suzhou SEG Electronics Market Project Cooperation Agreement signed with Suzhou SEG on June 5, 2009.
According to the dispute resolution terms in Article 7 (4) of the cooperation agreement, the Company applied for
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Full-text of 2017 Q1 Report of Shenzhen SEG Co., Ltd.
arbitration to Beijing Arbitration Commission (case number: (2016) J. Z. A. Zi. No. 2294). Besides, a loan dispute
arose between Suzhou SEG and Zongheng International, and Suzhou SEG filed a lawsuit against Zongheng
International to the court (case number: 2016 S. 0505 M. C. No. 5176). As Suzhou SEG and Zongheng
International reached a settlement intention on March 8, 2017, Suzhou SEG has suspended the arbitration and
revoked the lawsuit against Zongheng International.
3. Lawsuits of SEG Industry
SEG Industry filed lawsuits to Futian District People's Court against Shenzhen Wonder Industrial Co., Ltd.,
Shenzhen Yixin Zhongtian Technology Co., Ltd., and their debt guarantors for their breach of the contract, at the
same time, has applied to the court for preservation of properties of Shenzhen Wonder Industrial Co., Ltd.,
Shenzhen Yixin Zhongtian Technology Co., Ltd., and their debt guarantors. Futian District People's Court thought
that the conditions of prosecution are met and put the cases on record (case number: (2017) Y. 0304 M. C. No.
5092, (2017) Y. 0304 M. C. No. 5088). The Company has disclosed relevant issues on designated information
disclosure media on March 1, 2017. As of the day when this report is disclosed, the hearing had not yet been held.
(III) Hongtu SEG Intelligent Industrial Investment Fund
Hongtu SEG Intelligent Industrial Investment Fund jointly initiated and established by the Company and
Shenzhen Capital Group Co., Ltd. and Shenzhen Guiding Fund has a scale of RMB 300 million. Its main target of
investment includes: Hongtu SEG Fund mainly for new intelligent electronic information industry, wearable
intelligent devices, intelligent equipment, 3D printing, robot, VR/AR industry and Internet of things,
Internet/mobile Internet +, cloud computation and projects with potentials for growth in relevant emerging
industries of Shenzhen. As of the disclosure date of the report, the fund limited partnership ("Shenzhen Hongtu
SEG Intelligent Industrial Investment Fund (Limited Partnership)") has been incorporated and relevant
registration and record formalities are in progress.
Inquiry Index for the Websites Disclosing the Temporary
Overview of Important Events Disclosure Date
Reports
Announcement on Approval of the CSRC on Share Issuance and
January 18, 2017 Cash Payment to Acquire Assets and Raise Funds & Connected
Transactions disclosed on http://www.cninfo.com.cn
Report of Share Issuance and Cash Payment to Acquire Assets
1. Matters concerning the progress of
January 18, 2017 and Raise Funds & Connected Transactions (Draft) disclosed on
major assets restructuring
http://www.cninfo.com.cn
Announcement on Share Issuance and Cash Payment to Acquire
January 25, 2017 Assets and Raise Funds & Subject Asset Transfer of Connected
Transactions disclosed on http://www.cninfo.com.cn
Announcement on the Acquisition of the Business License of
2. Matters concerning the acquisition of
February 11, 2017 Shenzhen SEG Lianzhong Internet Technology Co., Ltd.
the business license of SEG Lianzhong
disclosed on http://www.cninfo.com.cn
3. Matters concerning the conclusion of the Announcement on the Conclusion of the Strategic Cooperation
strategic cooperation agreement between Agreement between SEG Real Estate Investment and Shenzhen
March 1, 2017
SEG Real Estate Investment and Shenzhen Branch of Huarong Asset Management Co., Ltd. disclosed on
Branch of Huarong Asset http://www.cninfo.com.cn
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4. Matters concerning the court's Announcement on the Receipt of the Court's Notice on
acceptance of the lawsuit filed by SEG March 1, 2017 Acceptance of the Lawsuit Filed by the Controlling Subsidiary
Industry disclosed on http://www.cninfo.com.cn
Announcement on Share Issuance and Cash Payment to Acquire
5. Matters concerning the progress of Assets and Raise Funds & Implementation of Connected
March 4, 2017
major assets restructuring Transactions & Offering of New Shares disclosed on
http://www.cninfo.com.cn
6. Matters concerning SEG Longyan
Announcement on Shenzhen SEG Longyan Energy Technology
Technology's bidding for the land in
March 14, 2017 Co., Ltd.'s Bidding for the Land disclosed on
Shenzhen-Shanwei Special Cooperation
http://www.cninfo.com.cn
Zone
III. Commitments not fulfilled in the report period by the actual controller of the Company,
shareholders, buyers, or other related parties
□ Applicable √ Not applicable
IV. Estimation of operating results of January-June 2017
Warning of negative estimated accumulated net profit from the beginning of the year to the end of the next report period or large
fluctuation over the same period of the previous year and causes
√ Applicable □ Not applicable
Estimation of operating results: they will sharply increase compared with the same period of last year (before adjustment).
Type of data filled in the performance forecast: exact number
Amount of the same
Amount from the beginning
period of the previous
of year to the end of the Increase or decrease
year before retroactive
next report period
adjustment
Accumulated net profit
estimated (ten thousand 4,700 2,685.63 Increase 75.01%
Yuan)
Basic EPS (Yuan/Share) 0.0380 0.0342 Increase 11.22%
1. The Company carried out major asset restructuring in the first quarter of 2017. The four object
enterprises including SEG Real Estate, SEG Kangle, SegMaker and SEG Property completed the
procedures of transferring assets on January 19, 2017. Accordingly, in 2017 the Company will
book the underlying assets of the above-mentioned four enterprises into the consolidated financial
Explanation of performance
statements. Therefore, the relevant profit and loss of these four subject enterprises from January
forecast
to June, 2017 are added into this estimation of the performance.
2. The net profit attributable to the listed company in the first half of the year 2017 (after
deducting non-recurring profit and loss) will decrease by around 20%, compared with that in the
same period of last year (after adjustment). The main cause is that in the same period of last year,
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Full-text of 2017 Q1 Report of Shenzhen SEG Co., Ltd.
there was considerable profit and loss from carrying over the house payment of Huizhou Qunxing
real estate project of SEG Real Estate, whereas in the report period, such house payment became
less because the sales of that project entered into the ending stage; in addition, in the first half of
the year 2017, the New City Plaza project of SEG Real Estate cannot satisfy the conditions of
recognizing income, and it is estimated that from the fourth quarter of the year 2017, this project
will start partly carrying over the profit and loss from house payment.
3. The financial data of the above performance forecast has not been audited and will be subject
to that in 2017 semi-annual report to be disclosed at the scheduled time.
V. Securities investment
√ Applicable □ Not applicable
Gains
Ending
Initial Initial Ending and
Short Initial share-h Closing
share share-h share-h losses Accoun Source
Stock Stock form of investm olding book
quantit olding olding in the ting of
type code the ent cost quantit value
y proporti proporti report item capital
security (Yuan) y (Yuan)
(shares) on on period
(shares)
(Yuan)
Availab
le-for-s
Youhao 90,405. 625,03 Origina
Share 600778 60,683 0.04% 60,683 0.04% ale
Group 00 4.90 l share
financia
l assets
Long-te
204,86 171,62 rm
Huakon 191,27 191,27 -2,931, Origina
Share 000068 4,058.2 19.00% 19.00% 0,501.7 equity
g SEG 8,346 8,346 731.52 l share
9 0 investm
ent
Availab
SEG le-for-s
8,275,3 7,500,0 7,500,0 13,515, Origina
Share 832770 Navigat 11.38% 11.38% ale
21.43 00 00 392.83 l share
ions financia
l assets
213,22 198,83 198,83 185,76 -2,931,
Total -- -- -- --
9,784.7 9,029 9,029 0,929.4 731.52
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2 3
Shares Sharehold Gains and
Short Shares Sharehold Closing
Initial held at ing ratio losses in
Stock Stock form of held at ing ratio book Accounti Source of
investment the at the the report
type code the the period at the end value ng item shares
cost (Yuan) beginning beginning period
security end of period (Yuan)
of period of period (Yuan)
Disclosure date of the
announcement of the Board of
Directors on the approval of
securities investment
Disclosure date of the
announcement of the general
meeting on the approval of
securities investment (if any)
VI. Derivative investment
□ Applicable √ Not applicable
No derivative investment is involved in the report period.
VII. Registration form for investigations, communication and interviews in the report period
√ Applicable □ Not applicable
Time Means Type Investigation Index
Inquire about the progress of major
assets restructuring. The Company has
January 5, 2017 Phone call Individual
given a reply according to the actual
progress disclosed.
Inquire about the progress of major
assets restructuring. The Company has
January 10, 2017 Phone call Individual
given a reply according to the actual
progress disclosed.
Inquire about the progress of major
assets restructuring. The Company has
January 16, 2017 Phone call Individual
given a reply according to the actual
progress status that has been disclosed.
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Inquire about the main business,
transformation, and private placement of
February 8, 2017 Phone call Individual the Company. The Company has given a
reply according to the actual progress
disclosed.
Inquire about the main business,
transformation, and private placement of
the Company. The Company has given a
February 22, 2017 On-site survey Organization
reply according to the actual situation
and disclosed such information on
irm.cninfo.com.cn .
Inquire about the number of shareholders
as of February 28. The Company has
February 28, 2017 Phone call Individual given a reply according to the register of
shareholders released by the Securities
Depository and Clearing Corporation.
Inquire about the main business,
transformation, and private placement of
March 10, 2017 Phone call Individual the Company. The Company has given a
reply according to the actual progress
disclosed.
Inquire about the number of shareholders
as of March 15.The Company has given
March 15, 2017 Phone call Individual a reply according to the register of
shareholders released by the Securities
Depository and Clearing Corporation.
Inquire about the disclosure date of the
annual report. The Company has replied
March 23, 2017 Phone call Individual
that the annual report will be disclosed
on April 18, 2017.
VIII. Illegal external guarantee
□ Applicable √ Not applicable
No illegal external guarantee is involved in the report period.
IX. Non-operating capital occupation on the listed company by the controlling shareholders
and related parties
□ Applicable √ Not applicable
No non-operating capital occupation on the listed company by the controlling shareholders and related parties is involved in the
report period.
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Chapter 4 Financial Statements
I. Financial Statements
1. Consolidated Balance Sheet Statement
Prepared by: Shenzhen SEG Co., Ltd.
March 31, 2017
Unit: Yuan
Opening balance Opening balance
Item Closing balance
(before retroaction) (after retroaction)
Current assets:
Monetary funds 1,373,317,217.10 183,094,815.84 1,127,523,641.19
Deposit reservation for balance
Loans to other banks 40,000,000.00 40,000,000.00
Financial assets measured by fair
value with changes included in
current gains and losses
Derivative financial assets
Notes receivable 150,000.00 100,792.00 100,792.00
Accounts receivable 74,641,653.98 50,870,545.72 61,039,408.84
Advances 58,230,963.83 47,387,004.02 55,986,915.27
Premiums receivable
Reinsurance accounts receivable
Reinsurance deposit receivable
Interest receivable 287,698.63
Dividends receivable
Other accounts receivable 213,977,976.46 63,183,612.96 192,306,868.60
Redemptory monetary capital
for resale
Inventory 3,607,105,982.62 602,098,738.92 3,378,950,342.26
Held-for-sale assets
Non-current assets due within
one year
Other current assets 394,213,318.70 268,069,887.58 439,569,887.58
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Total current assets 5,721,637,112.69 1,254,805,397.04 5,295,765,554.37
Non-current assets:
Loans and advances issued 479,985,810.85 480,405,158.45 480,405,158.45
Financial assets available for
34,478,683.41 34,478,683.41 34,478,683.41
sale
Held-to-maturity investment
Long-term receivables
Long-term equity investment 201,386,462.87 183,649,044.67 203,657,322.72
Investment properties 700,997,492.84 425,169,768.62 708,482,985.89
Fixed assets 52,664,557.38 39,181,793.82 52,017,406.01
Construction in progress 38,963,872.39 30,602,682.00
Engineering materials
Disposal of fixed assets
Productive biological assets
Oil & gas assets
Intangible assets 2,559,488.28 1,251,991.68 2,681,527.40
Development expenses
Goodwill 10,328,927.82 10,328,927.82 10,328,927.82
Long-term expenses to be
114,310,416.49 94,320,491.68 111,787,439.52
amortized
Deferred income tax assets 28,203,948.92 10,880,347.67 28,203,948.92
Other non-current assets 13,804,660.46 13,804,660.46
Total non-current assets 1,663,879,661.25 1,293,470,868.28 1,676,450,742.60
Total assets 7,385,516,773.94 2,548,276,265.32 6,972,216,296.97
Current liabilities:
Short-term borrowing 485,000,000.00 355,000,000.00 355,000,000.00
Loans from central bank 0.00
Deposits from customers and
0.00
interbank
Loans from other banks 0.00
Financial liabilities measured by
fair value with changes included in 0.00
current gains and losses
Derivative financial liabilities 0.00
Notes payable 0.00
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Accounts payable 19,694,324.59 20,282,611.08 25,990,672.09
Advances from customers 1,048,025,264.89 116,529,761.27 935,199,020.97
Financial assets sold for
0.00
repurchase
Service charges and
0.00
commissions payable
Payroll payable 18,354,882.09 16,817,256.46 38,282,699.37
Taxes payable 238,160,238.82 46,917,032.07 216,486,426.84
Interest payable 4,338,891.02 475,177.74 4,234,977.77
Dividends payable 3,162,970.78 17,019,185.19 15,132,970.78
Other payables 1,539,360,478.91 190,643,502.25 872,477,573.33
Reinsurance accounts payable 0.00
Insurance deposit 0.00
Customer brokerage deposits 0.00
Securities underwriting
0.00
brokerage deposits
Held-for-sale liabilities 0.00
Non-current liabilities due
4,149,531.00 3,561,661.33
within one year
Other current liabilities 3,416,498.45 0.00
Total current liabilities 3,363,663,080.55 763,684,526.06 2,466,366,002.48
Non-current liabilities:
Long-term borrowing 1,546,000,000.00 1,518,000,000.00
Bonds payable 0.00
Preferred stock 0.00
Perpetual capital
0.00
securities
Long-term payables 0.00
Payroll payable 0.00
Special payables 0.00
Estimated liabilities 232,500.00 232,500.00
Deferred income 10,708,333.35 11,183,333.34 11,183,333.34
Deferred income tax liabilities 93,623,236.05 14,899,853.99 93,885,145.21
Other non-current liabilities 3,484,109.50 3,484,109.50
Total non-current liabilities 1,654,048,178.90 26,083,187.33 1,626,785,088.05
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Total liabilities 5,017,711,259.45 789,767,713.39 4,093,151,090.53
Owners' equity:
Share capital 1,235,656,249.00 784,799,010.00 784,799,010.00
Other equity instruments 0.00
Preferred stock 0.00
Perpetual capital
0.00
securities
Capital reserve 495,759,877.42 995,524,226.66
Less: Treasury shares 0.00
Other comprehensive income 251,982.41 296,235.62 296,235.62
Special reserve 0.00
Surplus reserve 121,803,040.24 121,803,040.24
General risk provision 0.00
Undistributed profits 547,020,088.82 145,542,484.27 515,411,031.57
Total owners' equity attributable to
1,782,928,320.23 1,548,200,647.55 2,417,833,544.09
the parent company
Minority shareholders' equity 584,877,194.26 210,307,904.38 461,231,662.35
Total owners' equity 2,367,805,514.49 1,758,508,551.93 2,879,065,206.44
Total liabilities and owners' equity 7,385,516,773.94 2,548,276,265.32 6,972,216,296.97
Legal representative: Wang Li Person in charge of accounting: Liu Zhijun Responsible person of the accounting institution: Ying Huadong
2. Balance Sheet Statement of the Parent Company
Unit: Yuan
Item Closing balance Opening balance
Current assets:
Monetary funds 221,460,539.51 90,504,836.76
Financial assets measured by fair value
with changes included in current gains and 0.00
losses
Derivative financial assets 0.00
Notes receivable 0.00
Accounts receivable 313,000.00 426,069.15
Advances 392,774.00 0.00
Interest receivable 0.00
23
Full text of Q1 2017 Report of Shenzhen SEG Co., Ltd.
Dividends receivable 0.00
Other accounts receivable 798,616,127.25 724,658,970.18
Inventory 610,930.13 442,920.87
Held-for-sale assets 0.00
Non-current assets due within one year 0.00
Other current assets 295,442,281.49 438,146,382.10
Total current assets 1,316,835,652.38 1,254,179,179.06
Non-current assets:
Financial assets available for sale 33,515,392.83 33,515,392.83
Held-to-maturity investment 0.00
Long-term receivables 0.00
Long-term equity investment 1,433,117,268.27 453,584,470.91
Investment properties 271,250,971.59 273,880,749.30
Fixed assets 18,860,348.81 19,149,224.71
Construction in progress 0.00
Engineering materials 0.00
Disposal of fixed assets 0.00
Productive biological assets 0.00
Oil & gas assets 0.00
Intangible assets 378,759.06 425,708.10
Development expenses 0.00
Goodwill 0.00
Long-term expenses to be amortized 7,164,714.00 7,743,293.52
Deferred income tax assets 8,664,455.49 8,664,455.49
Other non-current assets 0.00
Total non-current assets 1,772,951,910.05 796,963,294.86
Total assets 3,089,787,562.43 2,051,142,473.92
Current liabilities:
Short-term borrowing 485,000,000.00 355,000,000.00
Financial liabilities measured by fair
value with changes included in current gains 0.00
and losses
Derivative financial liabilities 0.00
Notes payable 0.00
Accounts payable 155,213.00
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Full text of Q1 2017 Report of Shenzhen SEG Co., Ltd.
Advances from customers 28,197,891.56 25,448,125.00
Payroll payable 1,913,425.33 7,817,501.76
Taxes payable 23,638,068.02 23,485,483.97
Interest payable 475,177.74
Dividends payable 119,803.29 119,803.29
Other payables 738,220,592.53 75,858,657.13
Held-for-sale liabilities 0.00
Non-current liabilities due within one
0.00
year
Other current liabilities 0.00
Total current liabilities 1,277,089,780.73 488,359,961.89
Non-current liabilities:
Long-term borrowing
Bonds payable
Preferred stock
Perpetual capital securities
Long-term payables
Payroll payable
Special payables
Estimated liabilities
Deferred income 10,708,333.35 11,183,333.34
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 10,708,333.35 11,183,333.34
Total liabilities 1,287,798,114.08 499,543,295.23
Owners' equity:
Share capital 1,235,656,249.00 784,799,010.00
Other equity instruments 0.00
Preferred stock 0.00
Perpetual capital securities 0.00
Capital reserve 279,796,427.79 498,654,523.66
Less: Treasury shares 0.00
Other comprehensive income 315.48 178.21
Special reserve 0.00
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Full text of Q1 2017 Report of Shenzhen SEG Co., Ltd.
Surplus reserve 121,803,040.24 121,803,040.24
Undistributed profits 164,733,415.84 146,342,426.58
Total owners' equity 1,801,989,448.35 1,551,599,178.69
Total liabilities and owners' equity 3,089,787,562.43 2,051,142,473.92
3. Consolidated Profit Statement
Unit: Yuan
Amount incurred in the Amount incurred in the
Amount incurred in the
Item same period of last year same period of last year
current period
(before retroaction) (after retroaction)
I. Total operating revenue 331,231,936.34 207,691,338.31 453,789,232.95
Including: Operating revenue 317,456,442.86 191,126,945.65 438,455,160.52
Interest income 13,455,248.15 14,359,892.66 13,129,572.43
Earned premiums 0
Service charges and
320,245.33 2,204,500.00 2,204,500.00
commissions income
II. Total operating cost 275,166,453.65 164,180,925.54 350,817,543.80
Including: Operating cost 227,713,181.01 143,442,005.77 276,812,215.11
Interest expenses 0.00 445,888.89 445,888.89
Commissions 0.00 0 0.00
Surrender value 0.00 0
Net compensation
0.00 0
pay-outs
Net insurance deposit
0.00 0
accrued
Insurance dividends 0.00 0
Reinsurance expenses 0.00 0
Operating tax and
6,678,270.88 6,526,579.35 30,507,163.47
surcharges
Sale expenses 6,575,647.31 442,564.94 6,440,439.61
Management expenses 29,451,917.00 9,477,333.51 30,266,398.45
Financial cost 4,747,437.45 3,846,553.08 6,153,343.51
Loss from asset
0.00 0 192,094.76
impairment
Add: Income from change of fair
0.00 0
value (enter "-" for loss)
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Income from investment
544,597.03 -388,373.34 1,445,145.44
(enter "-" for loss)
Including: Income from
investment in joint ventures or -3,570,711.00 -2,803,464.94 -2,803,464.94
associates
Income from exchange (enter
0.00 0
"-" for loss)
III. Operating profit (enter "-" for loss) 56,610,079.72 43,122,039.43 104,416,834.59
Add: Non-operating revenue 1,841,331.56 202,559.94 60,886,048.66
Including: Gains on disposal
0.00 0 0.00
of non-current assets
Less: Non-operating expenses 147,931.71 8,785.89 180,058.13
Including: Loss from
11,548.10 8,185.25 9,394.28
disposal of non-current assets
IV. Total profit (enter "-" for total loss) 58,303,479.57 43,315,813.48 165,122,825.12
Less: Income tax 18,096,458.88 14,211,556.59 46,992,683.69
V. Net profit (enter "-" for net loss) 40,207,020.69 29,104,256.89 118,130,141.43
Net profit attributable to owners
31,609,057.25 17,696,110.04 91,324,739.57
of the parent company
Profit and loss of minority
8,597,963.44 11,408,146.85 26,805,401.86
shareholders
VI. Net of tax of other comprehensive
-43,532.53 -129,709.91 -129,709.91
incomes
Total owners' net of tax of other
comprehensive incomes attributable to -28,930.74 -86,360.86 -86,360.86
the parent company
1. Other comprehensive incomes
not to be reclassified into gains and 0.00 0 0.00
losses
(1) Changes of net
liabilities or net assets of the 0.00 0 0.00
re-measured defined benefit plans
(2) Shares of the investee
of other comprehensive incomes not to
0.00 0 0.00
be reclassified into gains and losses
under the equity method
2. Other comprehensive incomes
-28,930.74 -86,360.86 -86,360.86
to be reclassified into gains and losses
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(1) Shares of the investee
of other comprehensive incomes to be
159.23 0
reclassified into gains and losses under
the equity method
(2) Gains and losses from
changes of fair value of the -29,089.97 -86,360.86 -86,360.86
available-for-sale financial assets
(3) Held-to-maturity
investments categorized as gains and
0.00 0
losses from the available-for-sale
financial assets
(4) Effective gains or loss
0.00 0
from cash flows
(5) Foreign currency
0.00 0
translation differences
(6) Others 0.00 0
Net of tax of other comprehensive
incomes attributable to minority -14,601.79 -43,349.05 -43,349.05
shareholders
VII. Total comprehensive income 40,163,488.16 28,974,546.98 118,000,431.52
Total comprehensive income
attributable to shareholders of the 31,580,126.51 17,609,749.18 91,238,378.71
parent company
Total comprehensive income
8,583,361.65 11,364,797.80 26,762,052.81
attributable to minority shareholders
VIII. Earnings per share
1. Basic earnings per share 0.0256 0.0225 0.0739
2. Diluted earnings per share 0.0256 0.0225 0.0739
In case of merger of enterprises under common control in the current period, the net profit of the merged party recognized before
merger is 12,472,550.47 Yuan and the net profit of the merged party in the previous period is 85,590,254.75 Yuan.
Legal representative: Wang Li Person in charge of accounting: Liu Zhijun Responsible person of the accounting institution: Ying Huadong
4. Profit Statement of the Parent Company
Unit: Yuan
Amount incurred in the same period of last
Item Amount incurred in the current period
year
I. Operating revenue 22,653,169.12 25,018,953.94
28
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Less: Operating cost 13,469,184.84 11,153,314.40
Tax and surcharges 1,371,278.23 1,415,960.62
Sale expenses 0.00 0.00
Management expenses 4,974,284.41 3,974,315.80
Financial cost 3,327,822.38 -6,877,232.11
Loss from asset impairment 0.00 0.00
Add: Income from change of fair
0.00 0.00
value (enter "-" for loss)
Income from investment
19,451,319.40 5,350,457.84
(enter "-" for loss)
Including: Income from
investment in joint ventures or -3,164,869.39 -2,803,464.94
associates
II. Operating profit (enter "-" for loss) 18,961,918.66 20,703,053.07
Add: Non-operating revenue 1,481,023.49 3,200.00
Including: Gains on disposal
0.00 0.00
of non-current assets
Less: Non-operating expenses 0.00 7,915.25
Including: Loss from disposal
0.00 7,915.25
of non-current assets
III. Total profit (enter "-" for total loss) 20,442,942.15 20,698,337.82
Less: Income tax 2,051,952.89 5,842,179.61
V. Net profit (enter "-" for net loss) 18,390,989.26 14,856,158.21
V. Net of tax of other comprehensive
159.23 0.00
incomes
1. Other comprehensive incomes
not to be reclassified into gains and 0.00 0.00
losses
(1) Changes of net
liabilities or net assets of the 0.00 0.00
re-measured defined benefit plans
(2) Shares of the investee
of other comprehensive incomes not to
0.00 0.00
be reclassified into gains and losses
under the equity method
2. Other comprehensive incomes
159.23
to be reclassified into gains and losses
(1) Shares of the investee 159.23 0.00
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of other comprehensive incomes to be
reclassified into gains and losses under
the equity method
(2) Gains and losses from
changes of fair value of the
available-for-sale financial assets
(3) Held-to-maturity
investments categorized as gains and
0.00 0.00
losses from the available-for-sale
financial assets
(4) Effective gains or loss
0.00 0.00
from cash flows
(5) Foreign currency
0.00 0.00
translation differences
(6) Others 0.00 0.00
VI. Total comprehensive income 18,391,148.49 14,856,158.21
VII. Earnings per share
1. Basic earnings per share 0.00
2. Diluted earnings per share 0.00
5. Consolidated Cash Flow Statement
Unit: Yuan
Amount incurred in the same period of last
Item Amount incurred in the current period
year
I. Cash flow from operating activities:
Cash received from sales of goods
432,072,426.42 394,476,155.37
and rendering of services
Net increase in deposits from
0.00 0.00
customers and interbank
Loans from central bank 0.00 0.00
Net increase in loans from other
0.00 0.00
banks
Cash received from premium of
0.00 0.00
the original insurance contract
Net cash received from reinsurance
0.00 0.00
business
Net increase in the deposit of the 0.00 0.00
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insured and investments
Net increase in financial assets
measured by fair value with changes 0.00 0.00
included in current gains and losses
Cash received from interest and
15,294,323.84 14,852,335.86
commissions
Net increase in loans from other
0.00 0.00
banks
Net increase in redemption capital 0.00 0.00
Tax refunds 0.00 15,225,827.36
Other cash received from operating
151,852,405.60 233,315,459.69
activities
Subtotal of cash inflow from operating
599,219,155.86 657,869,778.28
activities
Cash paid for goods and service 252,581,380.78 428,469,612.42
Net increase in loans to customers
-445,447.60 10,708,000.00
and advances
Net increase in deposits with
0.00 0.00
central bank and interbank
Cash paid for indemnity payment
0.00 0.00
of the original insurance contract
Cash paid for interest and
24,823.07 14,567.39
commissions
Cash paid as insurance dividends 0.00 0.00
Cash paid to and on behalf of
80,524,995.73 68,735,943.95
employees
Taxes paid 77,195,936.81 49,395,417.67
(1) Other cash received from
145,105,377.84 182,225,234.64
operating activities
Subtotal of cash outflow in operating
554,987,066.63 739,548,776.07
activities
Net cash flow from operating activities 44,232,089.23 -81,678,997.79
III. Cash flow from financing activities:
Cash received from withdrawal of
598,000,000.00 349,300,000.00
investment
Cash received from investment
4,343,173.32 3,662,515.47
income
Net cash received from disposal of 0.00 0.00
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fixed assets, intangible assets and other
long-term assets
Net cash received from disposal of
0.00 0.00
subsidiaries and other business units
Other cash received from financing
2,279.45 0.00
activities
Subtotal of cash inflow from financing
602,345,452.77 352,962,515.47
activities
Cash paid for purchase and
construction of fixed assets, intangible 12,781,888.65 3,915,829.59
assets and other long-term assets
Cash paid for investment 514,980,001.00 317,800,000.00
Net increase in mortgage loans 0.00 0.00
Net cash paid for acquisition of
30,010,000.00 0.00
subsidiaries and other business units
Other cash paid for investment
0.00 0.00
activities
Subtotal of cash outflow in financing
557,771,889.65 321,715,829.59
activities
Net cash flow arising from financing
44,573,563.12 31,246,685.88
activities
III. Cash flow from financing activities:
Cash received by absorbing
56,100,000.00 0.00
investment
Including: Cash received by
subsidiaries from investment of 0.00 0.00
minority shareholders
Borrowings received 370,000,000.00 550,920,000.00
Cash received from bond issue 0.00 0.00
Other cash received from financing
0.00 7,812.30
activities
Subtotal of cash inflow from financing
426,100,000.00 550,927,812.30
activities
Cash paid for debt repayment 223,435,625.02 359,000,000.00
Cash paid for dividend and profit
39,883,427.10 58,875,564.11
distribution or interest payment
Including: Dividends and profit
0.00 0.00
paid by subsidiaries to minority
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shareholders
Other cash paid for financing
5,180,964.31 75,642,660.55
activities
Subtotal of cash outflow in financing
268,500,016.43 493,518,224.66
activities
Net cash flow arising from financing
157,599,983.57 57,409,587.64
activities
IV. Influence of exchange rate
0.00 0.00
fluctuation on cash and cash equivalents
V. Net increase of cash and cash
246,405,635.92 6,977,275.73
equivalents
Add: Opening balance of cash and
1,127,523,641.19 631,463,030.13
cash equivalents
VI. Closing balance of cash and cash
1,373,929,277.11 638,440,305.86
equivalents
6. Cash Flow Statement of the Parent Company
Unit: Yuan
Amount incurred in the same period of last
Item Amount incurred in the current period
year
I. Cash flow from operating activities:
Cash received from sales of goods
26,033,371.08 25,939,842.53
and rendering of services
Tax refunds 0.00 0.00
Other cash received from operating
8,619,148.13 62,012,830.65
activities
Subtotal of cash inflow from operating
34,652,519.21 87,952,673.18
activities
Cash paid for goods and service 14,145,281.85 19,456,315.88
Cash paid to and on behalf of
12,707,304.93 12,605,752.99
employees
Taxes paid 3,026,750.08 2,211,219.51
Other cash received from operating
82,768,631.59 107,985,541.80
activities
Subtotal of cash outflow in operating
112,647,968.45 142,258,830.18
activities
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Net cash flow from operating activities -77,995,449.24 -54,306,157.00
II. Cash flow from financing activities:
Cash received from withdrawal of
163,000,000.00 223,000,000.00
investment
Cash received from investment
22,616,188.79 8,266,422.78
income
Net cash received from disposal of
fixed assets, intangible assets and other 0.00 0.00
long-term assets
Net cash received from disposal of
0.00 0.00
subsidiaries and other business units
Other cash received from financing
0.00 0.00
activities
Subtotal of cash inflow from financing
185,616,188.79 231,266,422.78
activities
Cash paid for purchase and
construction of fixed assets, intangible 0.00 0.00
assets and other long-term assets
Cash paid for investment 102,500,000.00 213,000,000.00
Net cash paid for acquisition of
0.00 0.00
subsidiaries and other business units
Other cash paid for investment
0.00 0.00
activities
Subtotal of cash outflow in financing
102,500,000.00 213,000,000.00
activities
Net cash flow arising from investment
83,116,188.79 18,266,422.78
activities
III. Cash flow from financing activities:
Cash received by absorbing
0.00 0.00
investment
Borrowings received 220,000,000.00 90,000,000.00
Cash received from bond issue 0.00 0.00
Other cash received from financing
0.00 7,812.30
activities
Subtotal of cash inflow from financing
220,000,000.00 90,007,812.30
activities
Cash paid for debt repayment 90,000,000.00 50,000,000.00
Cash paid for dividend and profit 3,286,364.62 4,317,625.00
34
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distribution or interest payment
Other cash paid for financing
0.00 0.00
activities
Subtotal of cash outflow in financing
93,286,364.62 54,317,625.00
activities
Net cash flow arising from financing
126,713,635.38 35,690,187.30
activities
IV. Influence of exchange rate
0.00 0.00
fluctuation on cash and cash equivalents
V. Net increase of cash and cash
131,834,374.93 -349,546.92
equivalents
Add: Opening balance of cash and
89,733,004.87 186,144,227.38
cash equivalents
VI. Closing balance of cash and cash
221,567,379.80 185,794,680.46
equivalents
II. Auditor's Report
Is the Q1 report audited?
□ Yes √ No
The Q1 report of the Company has not been audited.
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