SHENZHEN SEG CO., LTD. THE FIRST QUARTERLY REPORT FOR 2009(Full Text)
1
SHENZHEN SEG CO., LTD.
THE FIRST QUARTERLY REPORT FOR 2009
(Full Text)
§1. Important Notice
1.1 The Board of Directors and Supervisory Committee of Shenzhen SEG Co., Ltd. (hereinafter
referred to as the Company) and its directors, supervisors and senior executives hereby confirm that
there are not any fictitious statements, misleading information and important omissions carried in
this report, and shall take all responsibilities, individual and/or joint, for the reality, accuracy and
completion of the whole contents.
1.2 The Financial Report For the 1st Quarterly Report of the Company has not been audited by
CPAs.
1.3 Zhang Weimin, Principal of the Company, Li Lifu, Person in Charge of Financial Affairs and
Ying Huadong, Person in Charge of Accounting Organ (Accounting Supervisor) hereby confirm
that the Financial Report of the 1st Quarterly Report is true and complete.
§2. Company Profile
2.1 Main Accounting Highlights and Financial Indexes:
Unit: RMB
At the end of the report
period At the end of the last year Changes of
increase/decrease (%)
Total assets 1,597,645,428.04 1,579,346,581.33 1.16%
Equity attributable to owners of
the parent company 1,299,995,184.62 1,297,772,121.85 0.17%
Share capital 784,799,010.00 784,799,010.00 0.00%
Net asset per share attributable to
owners of the parent company 1.656 1.654 0.12%
In the report period The same period of last
year
Changes of
increase/decrease (%)
Total operating income 67,892,989.04 70,567,071.74 -3.79%
Net profit attributable to owners
of the parent company 2,851,790.95 16,832,180.70 -83.06%
Net cash flow arising from
operating activities 13,913,598.52 18,318,717.10 -24.05%
Net cash flow arising from
operating activities per share 0.018 0.023 -21.74%
Basic earnings per share 0.004 0.021 -80.95%
Diluted earnings per share 0.004 0.021 -80.95%
Return on equity 0.22% 1.30% -1.08%
Return on equity after deducting
the non-recurring losses and
gains
-0.07% 1.17% -1.24%
Items of non-recurring gains and losses Amount in year-begin to
the end of report period
Held transaction financial asset, gains/losses of changes of fair values from transaction
financial liabilities, and investment gains from disposal of transaction financial asset,
1,280,217.62SHENZHEN SEG CO., LTD. THE FIRST QUARTERLY REPORT FOR 2009(Full Text)
2
transaction financial liabilities and financial asset available for sales, exclude the
effective hedging business relevant with normal operations of the Company
Reversal of provisions for asset impairment of account receivable which is made singly
impairment test 1,500,000.00
Other non-operating income and expense excluded the aforementioned business 1,519,926.17
Impact on income tax -450,000.00
Influences on minority shareholders’ gains/losses -42,246.62
Total 3,807,897.17
Explanations on items of non-recurring gains and losses
1. Held transaction financial asset, gains/losses of changes of fair values from transaction financial
liabilities, and investment gains from disposal of transaction financial asset, transaction financial
liabilities and financial asset available for sales, exclude the effective hedging business relevant with
normal operations of the Company: it was the profit from selling the shares of Shenzhen SEG
Dasheng Co., Ltd(hereinafter refers to be as “Shendasheng”) by the Company in the report period;
2. Reversal of provisions for asset impairment of account receivable which is made singly
impairment test: in the report period, the Company took back the arrearage of Shendasheng, reversal
of provisions for the withdrawal of bad impairment on the account which is made singly test and thus
the profit increased;
3. Other non-operating income and expense excluded the aforementioned business: it was mainly the
reversal of the account payable which the Company did not need to pay;
4. Impact on income tax: the profit increased due to the aforementioned items, and thus the
deductible amount of impact on income tax was increased;
5. Influences on minority shareholders’ gains/losses: the item was increased due to the increases of
the aformentioned 1-3 items of the controlling subsidiaries of the Company.
2.2 Total number of shareholders at the end of the report period and shares held by the top ten
shareholders with unrestricted conditions
Unit: Share
Total number of shareholders
at the end of report period 53,233
Particulars about the shares held by the top ten tradable shareholders with unrestricted conditions
Full Name of shareholder
Amount of tradable shares with
unrestricted conditions held at the
end of report period
Type of shares
SHENZHEN SEG GROUP CO., LTD. 78,479,900 RMB ordinary share
XU XIN HU 5,739,718 Domestically listed foreign
shareholder
SHANGHAI QILE ECONOMIC AND
TRADE CO., LTD. 5,570,000 RMB ordinary share
Taifook Securities Company
Limited-Account Client 5,560,127 Domestically listed foreign
shareholder
LIN GUO MING 2,297,600 RMB ordinary share
HU XIAO FENG 2,273,159 Domestically listed foreign
shareholder
HU XIAO FENG 1,992,304 RMB ordinary share
GUOTAI JUNAN SECURITIES
(HONGKONG) LIMITED 1,857,399 Domestically listed foreign
shareholder
ZHANG AI XIN 1,856,329 Domestically listed foreignSHENZHEN SEG CO., LTD. THE FIRST QUARTERLY REPORT FOR
2009(Full Text)
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shareholder
Lilian Industrial Development (Shenzhen)
Co., Ltd. 1,729,900 RMB ordinary share
§3. Significant events
3.1 Particulars about material changes in items of main accounting statement and financial index,
and explanations of reasons
√Applicable □Inapplicable
I. Balance sheet item
Item Mar.31, 2009 Mar.31, 2008 Balance Proportion of
changes %
Inventory 11,765,590.78 5,516,156.86 6,249,433.92 113.29%
Financial assets available for sale 2,495,161.40 3,430,544.62 -935,383.22 -27.27%
Tax payable 2,799,921.20 10,550,796.11 -7,750,874.91 -73.46%
1. Inventory: increased 6.25 million, that was 113.29% compared with that of last year, which was
mainly because the cost of subway project in progress of subsidiary - Shenzhen SEG Communication
Co., Ltd. (hereinafter refer to as SEG Communication) increased.
2. Financial assets available for sale: decreased RMB 935,400 that was 27.27% compared with that of
last year, which was mainly because the Company sold some shares of Shendasheng in the report
period.
3. Tax payable: decreased RMB 7.75 million that was 73.46% compared with that of last year, which
was mainly because that the Company timely handed in tax which should be paid at the end of last year
in the report period.
II. Income statement item
Item Amount in this
period
Amount in the same
period of last year
Balance Proportion of
changes %
Sales expenses 906,378.64 2,324,872.17 -1,418,493.53 -61.01%
Management expense 6,753,654.36 11,613,980.42 -4,860,326.06 -41.85%
Financial expenses -3,684,098.53 1,065,749.23 -4,749,847.76 ----
Assets depreciation losses -1,500,000.00 — -1,500,000.00 ----
Investment income -24,757,432.54 3,516,488.33 -27,773,920.87 ---
Business profit 5,900,247.82 17,889,778.90 -11,989,531.08 -67.02%
Total amount of profit 7,420,173.99 19,640,804.91 -12,220,630.92 -62.22%
Income tax expenses 2,313,487.22 1,258,083.56 1,055,403.66 83.89%
Net profit 5,106,686.77 18,382,721.35 -13,276,034.58 -72.22%
Net profit attributed to owner of
parent company
2,851,790.95 16,832,180.70 -13,980,389.75 -83.06%
Gains and losses of minority
shareholders
2,254,895.82 1,550,540.65 704,355.17 45.43%
1. Sales expenses: decreased RMB 1.42 million that was 61.01% compared with that of last year, and
the main reasons were as follows: ① due to business income decreased, sales expenses decreased; ②
the Company and subsidiary adopted measures of increasing revenue and cutting expenditure, and the
expenses decreased.
2. Management expense: decreased 41.85% compared with that of last year, which was mainly because
the Company and subsidiary adopted measures of increasing revenue and cutting expenditure, and the
expenses decreased.
3. Financial expenses: greatly decreased compared with that of last year, and the main reasons were
asSHENZHEN SEG CO., LTD. THE FIRST QUARTERLY REPORT FOR 2009(Full Text)
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follows: ①the Company had no bank loan in this period, so financial expenses decreased; ② some of
the Company’s deposit was fixed deposit with high interest rate, so interest income greatly increased.
4. Assets depreciation losses: some accounts receivable which were withdrawn as bad debts were called
back by lawsuit, and this item increased.
5. Investment income: decreased RMB 27.77 million compared with that of last year, which was mainly
because Shenzhen SEG SAMSUNG Co., Ltd. (hereinafter refer to as SEG SAMSUNG) whose shares
were participated by the Company appeared loss in the report period, and this item greatly decreased in
this period.
6. Business profit: greatly decreased compared with that of last year, which was mainly because SEG
SAMSUNG whose shares were participated by the Company appeared loss in the report period, and
investment income greatly decreased, therefore, this item greatly decreased.
7. Total amount of profit: greatly decreased compared with that of last year, with the same reason of
item 6.
8. Income tax expenses: increased 83.89% compared with that of last year, which was mainly because
business profit of Shenzhen electron market increased and income tax rate in Shenzhen increased in this
year.
9. Net profit: greatly decreased compared with that of last year, with the same reason of item 6.
10. Net profit attributed to owner of parent company: greatly decreased compared with that of last year,
with the same reason of item 6.
11. Gains and losses of minority shareholders: increased 45.43% compared with that of last year, which
was mainly because profit of some investment enterprises controlled by the Company in the report
period increased compared with that of last year.
III. Cash flow statement item
Item Amount in this
period
Amount in the same
period of last year
Balance Proportion of
changes %
Received cash from recovering
investment 2,198,720.24 184,510,000.00 -182,311,279.76 -98.81%
Received cash from investment
income ---- 6,300,000.00 -6,300,000.00 -100.00%
Received net cash from the
disposal of fixed assets,
intangible assets and other
long-term assets
141,500.00 3,084,571.99 -2,943,071.99 -95.41%
Received net cash from the
disposal of subsidiary and other
business unit
34,229,363.41 ---- 34,229,363.41 ----
Cash paid for investment 53,030,000.00 ---- 53,030,000.00 ----
Received cash from loan ---- 60,000,000.00 -60,000,000.00 -100.00%
Cash paid for settling debts ---- 85,000,000.00 -85,000,000.00 -100.00%
Cash paid for dividends, profit
and settling interests ---- 1,666,204.00 -1,666,204.00 -100.00%
1. Received cash from recovering investment: the Company received account of transferring 73.24%
equity of Shenzhen SEG Zhongdian Color Display Devices Co., Ltd. in the same period of last year,
while this kind of account received in this period was less.
2. Received cash from investment income: the Company received cash dividends from Shenzhen SEG
GPS Scientific Navigation (hereinafter refer to SEG GPS) whose shares were participated by the
Company in the same period of last year, while still not received dividends in this period.
3. Received net cash from the disposal of fixed assets, intangible assets and other long-term assets: the
subsidiary of the Company – Shenzhen SEG Logistics Co., Ltd. recovered cash by selling real estate in
the same period of last year, while no property was sold in this period.
4. Received net cash from the disposal of subsidiary and other business unit: the Company received
account of transferring equity of SEG Communication in this period, while there was no the item in
theSHENZHEN SEG CO., LTD. THE FIRST QUARTERLY REPORT FOR 2009(Full Text)
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same period of last year.
5. Cash paid for investment: according to resolution of the board of directors, the Company purchased
46% equity of Changsha Xinxing Development Co., Ltd. (hereinafter refer to as Xinxing Company) and
paid purchase account.
6. Received cash from loan: the Company borrowed RMB 60 million form bank in the same period of
last year, while there was no the item in this period.
7. Cash paid for settling debts: the Company returned RMB 85 million to bank in the same period of
last year, while there was no the item in this period.
8. Cash paid for dividends, profit and settling interests: the Company had bank loan and relevant
interests expenses in the same period of last year, while there was no the item in this period.
3.2 Analysis and explanation of significant events and their influence and solutions
√Applicable □Inapplicable
1. With examination and approval from the 4th meeting of the 4th Board of the Company dated Oct.
22nd, 2008, the Company and its controlling subsidiary-Shenzhen SEG Industry Investment Co., Ltd.
(hereinafter referred to as SEG Industry) were approved to transfer 100% equity of Shenzhen SEG
Communications Co., Ltd. (hereinafter referred to as SEG Communications), which was together
held by the aforesaid two companies, in Shenzhen Property Exchange Center through hanging out
publicly. Public bid transfer was held in Shenzhen Property Exchange Center on Mar 13th of 2009,
and finally Shenzhen HYT Science& Technology Co., Ltd. (hereinafter referred to as HYT) took
over this transfer with price of RMB 40 million. Property Exchange Contract was reached by the
Company, SEG Industry as well as HYT dated Mar 19th of 2009, and on Mar 26th of 2009, the
aforesaid transfer account went into the account appointed by the Company. Details about this
proceeding could be found in the notices respectively published on Securities Times, China Securities
Journal and Hong Kong Wen Wei Po dated Mar 17th, 25th and 28th of 2009. Till the disclosure date for
this report, relevant registration procedure for equity transfer of SEG Communications is still being
transacted.
Whereas relevant registration procedure for this equity transfer is still being transacted, relevant
income is not reflected in this report according to regulation of Accounting Standard.
2. With examination and approval from the 24th extraordinary meeting of the 4th Board of the
Company dated Feb. 26, 2009; the Company signed Equity Transfer Agreement (hereinafter referred
to as Agreement) with Shenzhen Jintai Hengye Investment Development Corporation (hereinafter
referred to as Jintai Hengye Corporation). In the Agreement, the Company would purchase 46%
equity of Xinxing Company which was held by Jintai Hengye Corporation with price of RMB 69
million. Since accomplishment of this purchase, Xinxing Company used its core property of
Changsha Xinxing Hotel to launch electron market and other business relevant to electron market;
besides, Xinxing Company exclusively entrusted the Company to operate and manage. Details about
this proceeding could be found in the notices respectively published on Securities Times, China
Securities Journal and Hong Kong Wen Wei Po dated Feb 28th of 2009.
Till disclosure date of this report, following progress has been made in this proceeding:
(1) According to the Agreement, the Company paid the first account RMB 33.03 million for equity
transfer to Jintai Hengye Corporation dated Mar 13th of 2009;
(2) According to the Agreement, the Company paid the second account RMB 20 million for equity
transfer to Jintai Hengye Corporation dated Mar 26th of 2009;
(3) Till Apr 15th of 2009, Xinxing Company has cancelled labor relationship with its all original
employees;
(4) Till Apr 18th of 2009, the original property-leasers of Xinxing Company have all cancelled
tenancy contracts;
(5) Till Apr 20th of 2009, the original property mortgages of Xinxing Company have been cancelled;SHENZHEN
SEG CO., LTD. THE FIRST QUARTERLY REPORT FOR 2009(Full Text)
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(6) Prophase works such as decoration, construction reform, business invitation and propaganda
scheme are being fully prepared.
3.3 Implementations of commitments by the Company, shareholders and actual controller
√Applicable □Inapplicable
Commitments Content of commitments Implementation
Commitments for Share Merger
Reform
No listed for trading or
transferring shares within 12
months from the day of
implementation of Share
Merger Reform Scheme for
original non-tradable shares of
the Company; after the
aforementioned time limitation
was expired, expired, if
shareholders of original
non-tradable shares with a
stake over 5% were to sell the
original non-tradable shares
through listing in stock
exchange, the sales volume
should be no more than 5% of
the total of the Company
within 12 month and no more
than 10% within 24 months.
In the report period, the original untradeable
A-stock shareholders of the Company all abide
the aforementioned commitments.
Commitments on share restriction
for trading Ditto Ditto
Commitments made in Acquisition
Report or Reports on Change in
Interests
Naught Inapplicable
Commitments made in Material
Assets Reorganization Naught Inapplicable
Commitments made in issuing Naught Inapplicable
Other commitments (including
additional commitments) Naught Inapplicable
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 √Inapplicable
3.5 Other significant events which need explanations
3.5.1 Particulars about securities investment
□Applicable √Inapplicable
3.5.2 Registration form for receiving research, communication and interview in the report period.
Date Place Way The received
parties
Contents discussed and materials
supplied
March 30,
2009 Fax Written enquiry
Investor call
center of
www.p5w.net
Enquiries on equity transfer of
SEG Communication held by the
Company, and the equity
relationship between SEG
Communication and SEG GPS.
The Company replied with E-mail.SHENZHEN SEG CO., LTD. THE FIRST QUARTERLY REPORT FOR 2009(Full Text)
7
3.5.3 Particulars about the explanations on other significant events
√Applicable □Inapplicable
1. The Company has neither provided capital to controlling shareholders and related parties, nor
provided external guarantee breaking regulated procedures.
2. With examination and approval from the 22nd extraordinary meeting of the 4th Board held on Dec.
9, 2008, the Company was permitted to transfer 22.5% equity of SEG GPS held by it in Shenzhen
Property Exchange Center through hanging out publicly. Price for this transfer shall not be less than
the appraised value of net asset of SEG GPS (the benchmark day for the appraisal was Oct 31st of
2008). Details about this matter could be found in Resolution Notice of the 22nd Extraordinary
Meeting of the 4th Board of the Company published on Securities Times, China Securities Journal,
Hong Kong Wen Wei Po and Juchao Website dated Dec 12th of 2008.
Till disclosure date for this report, as for this equity transfer, the Company is just making
authorization and put-on-record for asset appraisal item, in accordance to regulations of State-owned
Assets Supervision and Administration Commission of Peoples’ Government of Shenzhen
(hereinafter referred to as Shenzhen State-owned Assets Supervision and Administration
Commission).
3. With examination and approval from the 23rd extraordinary meeting of the 4th Board held on Jan.
22, 2009, the Company was permitted to transfer 50% equity of Chongqing SEG Electron Market
held by it through hanging out publicly. Price for this transfer shall not be less than the appraised
value of net asset of Chongqing SEG Electron Market equity(the benchmark day for the appraisal
was Oct 31st of 2008)
Progress of the proceeding: at present, relevant procedure for hanging out publicly for this equity
transfer is just being implemented in Shenzhen Property Exchange Center. The Company will
promptly implement relevant information disclosure obligation according to progress of the equity
transfer.
4. According to relevant regulations of Stock Listing Rules on Special Disposal for Canceling Stock
Trade promulgated by Shenzhen Stock Exchange, the Company has already handed in Application
for Special Disposal for Canceling Stock Trade to Shenzhen Stock Exchange on Apr 15th of 2009
when the 2008 Annual Report was disclosed. The Company has not yet received reply from
Shenzhen Stock Exchange till the disclosure date for this report.
§4. Appendix
4.1 Balance sheet
Prepared by Shenzhen SEG Co., Ltd. March 31, 2009 Unit: RMB
Balance at Items Merger pePriaorde-netn Cd ompany MerBgaelra n ce at yePara-rbeengt iCn ompany
Current assets:
Monetary funds 400,994,401.01 298,888,464.08 404,242,883.22 298,174,785.87
Settlement provisions
Capital lent
Transaction finance asset
Notes receivable
Accounts receivable 35,527,365.75 293,230.00 37,054,146.68 114,405.00
Accounts paid in advance 17,026,158.98 353,190.00 17,057,981.59 103,686.00
Insurance receivableSHENZHEN SEG CO., LTD. THE FIRST QUARTERLY REPORT FOR 2009(Full Text)
8
Reinsurance receivables
Contract reserve of reinsurance
receivable
Interest receivable
Dividend receivable 9,003,495.72
Other receivables 15,400,762.72 8,087,034.93 15,254,619.90 5,126,240.74
Purchase restituted finance
asset
Inventories 11,765,590.78 5,516,156.86
Non-current asset due within
one year
Other current assets
Total current assets 480,714,279.24 307,621,919.01 479,125,788.25 312,522,613.33
Non-current assets:
Granted loans and advances
Finance asset available for
sales 2,495,161.40 2,143,200.00 3,430,544.62 3,240,000.00
Held-to-maturity securities
Long-term account receivable
Long-term equity investment 584,496,029.87 725,391,383.91 558,731,067.54 699,626,421.58
Investment property 454,615,543.84 356,583,490.37 458,389,203.22 359,248,359.77
Fixed assets 56,839,731.49 23,832,884.61 58,590,599.71 24,141,470.09
Construction in progress 800,000.00 944,020.90 144,020.90
Engineering material
Disposal of fixed asset
Productive biological asset
Oil and gas asset
Intangible assets 614,114.42 534,535.32 696,404.07 603,250.98
Expense on Research and
Development
Goodwill
Long-term expenses to be
apportioned 8,527,985.85 537,660.61 10,446,371.09 289,203.75
Deferred income tax asset 8,542,581.93 5,967,052.39 8,992,581.93 6,417,052.39
Other non-current asset
Total non-current asset 1,116,931,148.80 1,114,990,207.21 1,100,220,793.08 1,093,709,779.46
Total assets 1,597,645,428.04 1,422,612,126.22 1,579,346,581.33 1,406,232,392.79
Current liabilities:
Short-term loans 1,750,000.00 1,750,000.00
Loan from central bank
Absorbing deposit and
interbank deposit
Capital borrowed
Transaction financial liabilities
Notes payableSHENZHEN SEG CO., LTD. THE FIRST QUARTERLY REPORT FOR 2009(Full Text)
9
Accounts payable 30,708,373.01 1,871,241.20 31,292,433.86 1,807,725.20
Accounts received in advance 132,676,536.85 88,819,266.06 115,518,738.97 66,715,671.72
Selling financial asset of
repurchase
Commission charge and
commission payable
Wage payable 2,333,826.41 377,283.20 6,163,381.62 4,470,461.55
Taxes payable 2,799,921.20 4,680,863.51 10,550,796.11 7,117,965.59
Interest payable
Dividend payable 854,903.47 153,403.29
Other accounts payable 92,708,076.14 37,348,101.37 83,079,536.95 34,036,324.33
Reinsurance payables
Insurance contract reserve
Security trading of agency
Security sales of agency
Non-current liabilities due
within 1 year
Other current liabilities
Total current liabilities 262,976,733.61 133,096,755.34 249,209,790.98 114,301,551.68
Non-current liabilities:
Long-term loans
Bonds payable
Long-term account payable
Special accounts payable
Projected liabilities 3,038,218.64 2,728,268.64 3,038,218.64 2,728,268.64
Deferred income tax liabilities 293,041.01 270,243.20 293,041.01 270,243.20
Other non-current liabilities
Total non-current liabilities 3,331,259.65 2,998,511.84 3,331,259.65 2,998,511.84
Total liabilities 266,307,993.26 136,095,267.18 252,541,050.63 117,300,063.52
Owner’s equity (or shareholders’
equity):
Paid-in capital (or share
capital) 784,799,010.00 784,799,010.00 784,799,010.00 784,799,010.00
Capital public reserve 350,628,826.83 346,862,134.80 351,257,039.42 347,597,818.69
Less: Inventory shares
Surplus public reserve 102,912,835.67 102,912,835.67 102,912,835.67 102,912,835.67
Provision of general risk
Retained profit 62,207,925.40 51,942,878.57 59,356,134.45 53,622,664.91
Balance difference of foreign
currency translation -553,413.28 -552,897.69
Total owner’s equity attributable to
parent company 1,299,995,184.62 1,286,516,859.04 1,297,772,121.85 1,288,932,329.27
Minority interests 31,342,250.16 29,033,408.85
Total owner’s equity 1,331,337,434.78 1,286,516,859.04 1,326,805,530.70 1,288,932,329.27
Total liabilities and owner’s equity 1,597,645,428.04 1,422,612,126.22 1,579,346,581.33
1,406,232,392.79SHENZHEN SEG CO., LTD. THE FIRST QUARTERLY REPORT FOR 2009(Full Text)
10
4.2 Profit statement
Prepared by Shenzhen SEG Co., Ltd. Jan.-Mar., 2009 Unit: RMB
Amount i Items Merger n thiPsa preenrito Cd ompany MerAgmero u nt in lasPta preenrito Cd o mpany
I. Total operating income 67,892,989.04 28,312,781.50 70,567,071.74 25,227,397.02
Including: Operating income 67,892,989.04 28,312,781.50 70,567,071.74 25,227,397.02
Interest income
Insurance gained
Commission charge and
commission income
II. Total operating cost 37,235,307.68 6,271,611.87 56,193,781.17 16,882,871.46
Including: Operating cost 31,746,485.69 6,224,508.93 38,583,521.61 10,506,599.78
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 3,012,887.52 1,426,154.86 2,605,657.74 897,974.64
Sales expenses 906,378.64 2,324,872.17
Administration expenses 6,753,654.36 3,527,096.41 11,613,980.42 4,293,664.17
Financial expenses -3,684,098.53 -3,406,148.33 1,065,749.23 1,184,632.87
Losses of devaluation of
asset -1,500,000.00 -1,500,000.00
Add: Changing income of
fair value(Loss is listed with “-”)
Investment income (Loss is
listed with “-”) -24,757,433.54 -24,757,433.54 3,516,488.33 3,516,488.33
Including: Investment
income on affiliated company
and joint venture
3,516,488.33 3,516,488.33
Exchange income (Loss is
listed with “-”)
III. Operating profit (Loss is
listed with “-”) 5,900,247.82 -2,716,263.91 17,889,778.90 11,861,013.89
Add: Non-operating income 1,620,912.10 1,486,477.57 1,795,787.13 540.00
Less: Non-operating
expense 100,985.93 44,761.12
Including: Disposal loss of
non-current asset
IV. Total Profit (Loss is listed
with “-”) 7,420,173.99 -1,229,786.34 19,640,804.91 11,861,553.89
Less: Income tax 2,313,487.22 450,000.00 1,258,083.56SHENZHEN SEG CO., LTD. THE FIRST QUARTERLY REPORT FOR
2009(Full Text)
11
V. Net profit (Net loss is listed
with “-”) 5,106,686.77 -1,679,786.34 18,382,721.35 11,861,553.89
Net profit attributable to
owner’s equity of parent
company
2,851,790.95 -1,679,786.34 16,832,180.70 11,861,553.89
Minority shareholders’ gains
and losses 2,254,895.82 1,550,540.65
VI. Earnings per share
i. Basic earnings per share 0.004 0.021 0.015
ii. Diluted earnings per share 0.004 0.021 0.015
4.3 Cash flow statement
Prepared by Shenzhen SEG Co., Ltd. Jan.-Mar., 2009 Unit: RMB
Amount i Items Merger n thiPsa preenrito Cd ompany MerAgmero u nt in lasPta preenrito Cd o mpany
I. Cash flows arising from
operating activities:
Cash received from
selling commodities and
providing labor services
77,509,335.13 16,793,838.47 91,488,814.68 8,423,032.74
Net increase of customer
deposit and interbank deposit
Net increase of loan from
central bank
Net increase of capital
borrowed from other financial
institution
Cash received from
original insurance contract fee
Net cash received from
reinsurance business
Insured savings and net
increase of investment
Net increase of disposal
of transaction financial asset
Cash received from
interest, commission charge
and commission
Net increase of capital
borrowed
Net increase of returned
business capital
Write-back of tax
received
Other cash received
concerning operating activities 35,621,486.09 34,108,393.77 27,323,839.81 24,262,193.86
Subtotal of cash inflow
arising from operating
activities
113,130,821.22 50,902,232.24 118,812,654.49 32,685,226.60
Cash paid for purchasing
commodities and receiving
labor service
33,515,780.98 4,689,090.60 30,159,381.87 4,121,332.49
Net increase of customer
loans and advancesSHENZHEN SEG CO., LTD. THE FIRST QUARTERLY REPORT FOR 2009(Full Text)
12
Net increase of deposits
in central bank and interbank
Cash paid for original
insurance contract
compensation
Cash paid for interest,
commission charge and
commission
Cash paid for bonus of
guarantee slip
Cash paid to/for staff and
workers 9,605,770.00 4,602,269.51 10,152,781.61 4,017,516.55
Taxes paid 24,959,921.99 18,464,019.40 22,743,510.22 17,011,955.14
Other cash paid
concerning operating activities 31,135,749.73 14,893,005.25 37,438,263.69 23,647,129.37
Subtotal of cash outflow
arising from operating
activities
99,217,222.70 42,648,384.76 100,493,937.39 48,797,933.55
Net cash flows arising
from operating activities 13,913,598.52 8,253,847.48 18,318,717.10 -16,112,706.95
II. Cash flows arising from
investing activities:
Cash received from
recovering investment 2,198,720.24 2,198,720.24 184,510,000.00 184,510,000.00
Cash received from
investment income 5,270,590.49 6,300,000.00 6,300,000.00
Net cash received from
disposal of fixed, intangible
and other long-term assets
141,500.00 3,084,571.99
Net cash received from
disposal of subsidiaries and
other units
34,229,363.41 38,280,000.00
Other cash received
concerning investing activities
Subtotal of cash inflow
from investing activities 36,569,583.65 45,749,310.73 193,894,571.99 190,810,000.00
Cash paid for purchasing
fixed, intangible and other
long-term assets
701,547.00 259,480.00 616,334.07 17,410.00
Cash paid for investment 53,030,000.00 53,030,000.00
Net increase of mortgaged
loans
Net cash received from
subsidiaries and other units
Other cash paid
concerning investing activities
Subtotal of cash outflow
from investing activities 53,731,547.00 53,289,480.00 616,334.07 17,410.00
Net cash flows arising
from investing activities -17,161,963.35 -7,540,169.27 193,278,237.92 190,792,590.00
III. Cash flows arising from
financing activities
Cash received from
absorbing investment
Including: Cash received
from absorbing minoritySHENZHEN SEG CO., LTD. THE FIRST QUARTERLY REPORT FOR 2009(Full Text)
13
shareholders’ investment by
subsidiaries
Cash received from loans 60,000,000.00 60,000,000.00
Cash received from
issuing bonds
Other cash received
concerning financing activities 167,797.71 155,144.93
Subtotal of cash inflow
from financing activities 60,167,797.71 60,155,144.93
Cash paid for settling
debts 85,000,000.00 85,000,000.00
Cash paid for dividend
and profit distributing or
interest paying
1,666,204.00 1,472,890.00
Including: Dividend and
profit of minority shareholder
paid by subsidiaries
Other cash paid
concerning financing activities
Subtotal of cash outflow
from financing activities 86,666,204.00 86,472,890.00
Net cash flows arising
from financing activities -26,498,406.29 -26,317,745.07
IV. Influence on cash due to
fluctuation in exchange rate -117.38 13,460.00
V. Net increase of cash and
cash equivalents -3,248,482.21 713,678.21 185,112,008.73 148,362,137.98
Add: Balance of cash and
cash equivalents at the period
-begin
404,242,883.22 298,174,785.87 254,221,978.08 161,182,620.40
VI. Balance of cash and cash
equivalents at the period -end 400,994,401.01 298,888,464.08 439,333,986.81 309,544,758.38
4.4 Auditor’ report
Auditor’s opinions: Un-audited
