WUXI LITTLE SWAN COMPANY LIMITED
THE FIRST QUARTERLY REPORT FOR 2010
§1. Important Notice
1.1 The Board of Directors, the Supervisory Committee, directors, supervisors and other senior management personnel of Wuxi Little Swan Company Limited (hereinafter referred to as “the Company”) hereby guarantee that this report carries no false information, misleading statements or major omissions, and accept, individually and collectively, the responsibility for the factuality, accuracy and completeness of the information set forth herein.
1.2 The 1st Quarterly Financial Report of the Company has not been audited by accounting firm.
1.3 Person in charge of the Company Mr. Fang Hongbo, Chief Financial Officer Ms. Ma Junxia and Finance Manager Mr. Zeng Rui, also director accountants hereby confirm that the Financial Report enclosed in this quarterly report is factual and complete.
§2. Company Profile
2.1 Main accounting data and financial indices
Unit: (RMB) Yuan
At the end of this reporting period
At the end of last reporting period
Increase or decrease (%)
Total assets (Yuan)
4,533,423,236.45
3,878,629,773.92
16.88%
Equities attributable to owners of shareholders of listed company (Yuan)
1,933,268,337.26
1,854,911,284.10
4.22%
Share capital (Share)
547,655,760.00
547,655,760.00
0.00%
Net assets per share attributable to owners of listed company (Yuan/share)
3.53
3.39
4.13%
The reporting period
Same period of last year
Increase or decrease (%)
Operating revenue (Yuan)
1,662,106,246.14
974,105,929.15
70.63%
Net profit attributable to shareholders of listed company (Yuan)
78,261,091.56
43,639,765.07
79.33%
Net cash flow arising from operating activities (Yuan)
-386,451,128.54
24,940,968.36
-1,649.46%
Net cash flow per share arising from operating activities (Yuan/share)
-0.71
0.05
-1,520.00%
Basic earnings per share (Yuan/share)
0.14
0.08
75.00%
Diluted earnings per share (Yuan/share)
0.14
0.08
75.00%
Weighted average return on equity (%)
4.13%
2.68%
1.45%Weighted average return on equity after deducting non-recurring gains and losses (%)
4.16%
1.87%
2.29%
Items of non-recurring gains and losses
Amount of Jan.-Mar. 2010
Gains from disposal of non-current assets
-845,279.21
Government subsidies recorded into current gains and losses except for those closely related to the Company’s normal operation and enjoyed at certain amounts according to government policies
938,559.42
Gains and losses from transaction financial assets and transaction financial liabilities, investment income from disposal of transaction financial assets, transaction financial liabilitiesand financial assets available for sale, excluding valid hedge relating to normal operating business
95,961.60
Other net non-operating income and expenses
-954,987.56
Impact on income tax
123,133.52
Impact on minority equity (after tax)
87,062.77
Total
-555,549.46
Explanation on significant non-recurring gains and losses
2.2 Total number of shareholders at the end of the reporting period, as well as the shares held by the top ten shareholders holding shares not subject to trading moratorium
Unit: Share
Total number of shareholders at period-end
27,373
Tradable shares held by the top ten shareholders holding shares not subject to trading moratorium
Full name of shareholder
Number of tradable shares not subject to trading moratorium held at period-end
Type of share
GD Midea Holding Co., Ltd.
131,510,011
Renminbi ordinary shares
GAOLING FUND,L.P.
41,602,180
Domestically listed foreign shares
TITONI INVESTMENTS DEVELOPMENT LTD.
30,851,714
Domestically listed foreign shares
Finance Bureau of Wuxi
22,057,657
Renminbi ordinary shares
Industrial and Commercial Bank of China- Penghua Goodquality Government Securities Investment Fund (LOF)
15,217,658
Renminbi ordinary shares
BOCI SECURITIES LIMITED
14,923,844
Domestically listed foreign shares
Industrial and Commercial Bank of China-China Southern Blue Growth Stock Fund
6,203,619
Renminbi ordinary shares
China Merchants Securities (HK) Co., Ltd
5,725,361
Domestically listed foreign shares
Industrial and Commercial Bank of China-Soochow Jiahe Advanced Mixed Type Open-Ended Fund
5,498,622
Renminbi ordinary shares
China Construction Bank-Guotai Jinding Value Selected Mixed Fund
5,485,636
Renminbi ordinary shares§3. Significant Events
3.1 Particulars about major changes of items and financial indexes of the main accounting statements, as well as the reasons for changes
√Applicable □Inapplicable
Unit: RMB Yuan
No.
Index
Amount in this period
Amount at the year-begin
Rate of change
1
Monetary capital
456,333,704.60
852,448,970.81
-46.47%
2
Notes receivable
1,753,170,705.11
604,499,731.15
190.02%
3
Accounts receivable
612,846,478.95
874,635,649.01
-29.93%
4
Prepayment
141,887,489.34
66,243,273.07
114.19%
5
Financial assets available for sale
425,712.00
312,816.00
36.09%
6
Construction in progress
13,750,456.02
23,101,817.68
-40.48%
7
Long-term deferred expenses
23,830,162.03
16,773,746.67
42.07%
8
Short-term borrowings
-
1,000,000.00
-100.00%
9
Notes payable
165,336,799.55
14,000,000.00
1080.98%
10
Tax payable
53,286,883.29
116,221,316.66
-54.15%
11
Deferred income tax liabilities
48,811.80
31,877.40
53.12%
12
Other non-current liabilities
5,338,900.00
3,679,000.00
45.12%
No.
Index
Amount in this period
Amount at the year-begin
Rate of change
13
Operating income
1,662,106,246.14
974,105,929.15
70.63%
14
Business taxes and surcharges
5,091,868.01
7,247,483.23
-29.74%
15
Administrative expenses
77,055,101.38
40,946,880.74
88.18%
16
Financial expenses
-1,171,952.69
749,646.93
-256.33%
17
Loss from impairment of assets
-13,083,139.68
62,240.73
-21120.22%
18
Investment income
1,289,048.95
11,055,072.87
-88.34%
19
Operating profit
100,560,926.35
29,854,931.59
236.83%
20
Non-operating income
2,753,456.83
16,751,638.84
-83.56%
21
Total profit
99,926,719.00
43,957,477.67
127.33%
22
Income tax expenses
15,210,768.87
8,088,837.93
88.05%
23
Minority interest income
6,454,858.57
-7,771,125.33
-183.06%
24
Net cash flow arising from operating activities
-386,451,128.54
24,940,968.36
-1649.46%
25
Net cash flow arising from investing activities
-8,447,650.17
-3,361,083.63
151.34%
26
Net cash flow arising from financing activities
-1,216,487.50
-1,793,422.67
-32.17%
27
Increase of cash and cash equivalent
-396,115,266.21
19,786,462.06
-2101.95%
1. Influenced by changes in macro policy of financial market, remittance decreased and payment with bank’s acceptance bill increased.
2. Influenced by changes in macro policy of financial market, payment with bank’s acceptance bill increased.
3. Influenced by sales of off season, accounts receivable decreased.4. Mainly due to increase of prepayment for bulking purchase of raw materials and input of advertisement.
5. Fair value of financial assets available for sale changed, and the fair value was closing price of Stock Exchange on 31 Mar. 2010.
6. Part projects were finished in this period, and transferred into fixed assets.
7. Input of mould increased along with development of new products.
8. The Company returned short-term borrowings in this period.
9. Bank’s acceptance bill opened by the Company increased.
10. Taxes payable decreased due to off season of sale.
11. Changes in fair value of financial assets available for sale caused increase of deferred income tax liabilities.
12. Government subsidies relating to assets increased.
13. Sales income increased by a large margin due to revival of home appliance and stimulation of policy of “Promotion Home Appliance to the Countryside”.
14. Turnover tax paid in this period decreased, so urban maintenance and construction tax and education surcharges decreased.
15. Along with large increase of operating income and in order to further promotion of competitive power, the Company strengthened management and the relevant expenses increase.
16. Reduction of long-term borrowings caused drop of interest expenses.
17. Accounts receivable decreased, and relevant bad debt reserves switched back.
18. Profit of shareholding company decreased in this period.
19. Profit increased along with increase of operating income, which was cause by revival of home appliance and stimulation of policy of “Promotion Home Appliance to the Countryside”
20. The Company sold some moulds of double cylinder washer because the Company optimized products structure at the same period of last year.
21. Income increased by a large margin.
22. Tax payable increased due to increase of profit.
23. Operating income of subsidiaries of the Company increased year-on-year.
24. Due to change of financial market, note collection increased and cash decreased.
25. Cash expenditure for fixed assets increased.
26. Long-term borrowings decreased and interests decreased.
27. Mainly because net cash flow from operating activities decreased.
3.2 Analysis and explanation on the progress of significant events and the influence, as well as the solutions
□Applicable √Inapplicable
3.3 Execution of commitments made by the Company, shareholders and actual controller
√Applicable □Inapplicable
Commitment
Commitment maker
Contents of the commitment
ExecutionCommitments concerning share merger reform
None
None
None
Commitments concerning share trading moratorium
The controlling shareholder and the actual controller
If the controlling shareholder and actual controller made the plan to sell the Company’s circulation shares released from trading restrictions in the future through the tendering system, furthermore, the number of share reduction reached to 5% and over during six months from the first reduction, so then, the controlling shareholder and actual controller shall publish outward suggestive announcement through the listed company within two trading days before the first reduction, the relevant disclosure matters shall be made in accordance with preceding clause.
The commitment was honoredin the report period.
Commitments made in the acquisition report or the report on equity changes
The controlling shareholder and the actual controller
GD Midea Holding Co., Ltd. and actual controller will not use the control power to Wuxi Little Swan Co., Ltd. to carry out operating activities with harm to rights and interests of the Company and its other shareholders, and adopt appropriate ways to settle such problem as horizontal competition among GD Midea, the actual controller and the Company within three years after finishing the said transaction.
Currently, a significant asset reorganization project is being carried out to solve the problem of horizontal competition.
Commitments made when conducting significant asset reorganization
None
None
None
Commitments made in the issuance
None
None
None
Other commitments (including supplementary ones)
None
None
None
3.4 Warnings of possible losses or significant changes of the accumulative net profit made during the period from the year-begin to the end of the next reporting period compared to the same period of last year according to prediction, as well as explanations on the reasons
□Applicable √Inapplicable
3.5 Other significant events
3.5.1 Securities Investment
√Applicable □Inapplicable
Unit: RMB Yuan
No.
Type
Securities code
Short form of Stock
Initial Investment (Yuan)
Share held at the period-end (share)
Book value at the period-end (Yuan)
Proportion in total investment on securities at the period-end (%)
Gains and losses in the report period (Yuan)
1
Stock
400038
Huaxin Gaoke
100,300.00
235,200.00
425,712.00
100.00%
0.00
Other securities investment held at the period-end
0.00
-
0.00
0.00%
0.00Gains and losses from securities investment sold in the report period
-
-
-
-
0.00
Total
100,300.00
-
425,712.00
100%
0.00
Explanation on securities investment
Naught
3.5.2 Reception of interviews and visits in the reporting period
Reception date
Reception site
Reception way
Reception object
Topics discussed and materials provided
9 Mar. 2010
The Company’s meeting room
Field research
Ping An Securities Limited, Penghua Fund Management Co., Ltd, Bosera Asset Management Co., Ltd and Shanghai Securities Co., Ltd
Overall operation of the Company
10 Mar. 2010
The Company’s meeting room
Field research
Fullgoal Fund Management Co., Ltd，Xiangcai Securities Co., Ltd，Guosen Securities Co., Ltd and China Southern Fund Management Co.,Ltd
Overall operation of the Company
10 Mar. 2010
The Company’s meeting room
Field research
Caitong Securities Brokerage Co., Ltd
Overall operation of the Company
11 Mar. 2010
The Company’s meeting room
Field research
Morgan Stanley, Everbright Securities Co., Ltd and Haitong Securities Co., Ltd
Overall operation of the Company
11 Mar. 2010
The Company’s meeting room
Field research
GuoDu Securities Co., Ltd,Northeast SecuritiesCo., Ltd and Guoyuan Securities
Overall operation of the Company
16 Mar. 2010
The Company’s meeting room
Field research
Mitsubishi UFJ Securities Co Ltd and Haitong Securities Co., Ltd
Overall operation of the Company
17 Mar. 2010
Communication by phone
Communication by phone
Nezu Fund and Morgan Stanley
Overall operation of the Company
18 Mar. 2010
The Company’s meeting room
Field research
Invesco 及 Invesco Greatwall
Overall operation of the Company
26 Mar. 2010
The Company’s meeting room
Field research
Bank of Communications Schroder FundManagement Co., Ltd and Asset Management Department of CICC, Western SecuritiesCo., Ltd and Cinda Securities Co., Ltd
Overall operation of the Company
3.5.3 Other significant events
√Applicable □Inapplicable
The 2nd Meeting and the 4th Meeting of the 6th Board of Directors, as well as the 1st Provisional Shareholders’ General Meeting 2010 reviewed and approved proposal on Issuing Shares to Purchase Assets Namely Related Transaction. The Company planned to non-publically issue 8482004 shares to GD Midea Holding Co., Ltd with price of RMB 8.63 Yuan/share, which would used to purchase 69.47% equity of HefeiRoyalstar Washing Equipment Manufacturing Co., Ltd held by GD Midea Holding Co., Ltd equaling to USD 94,145,000. On 8 Feb. 2010, the Company received Announcement on Acceptance of Application of Administrative Licensing from CSRC with document No. 100076. CSRC examined application information on administrative licensing for issuing shares to purchase assets, considered that the application materials was completed and in accordance with legal form and decided to heard the application. At present, significant reorganization has not completed, and will be implemented with approval and verification from CSRC.
3.6 Investment on derivative products
□Applicable √Inapplicable
3.6.1 Number of derivative products held at the end of report period
□Applicable √Inapplicable
§4. Appendix
Balance Sheet
Prepared by Wuxi Little Swan Company Limited 31 Mar. 2010 Unit: RMB Yuan
Balance at period-end
Balance at year-begin
Items
Consolidation
Parent company
Consolidation
Parent company
Current assets:
Monetary funds
456,333,704.60
255,872,885.48
852,448,970.81
743,637,877.78
Deposit reservation for balance
Dismantle fund
Transaction financial assets
Notes receivable
1,753,170,705.11
1,687,952,233.38
604,499,731.15
571,266,822.03
Accounts receivable
612,846,478.95
513,829,591.59
874,635,649.01
748,060,219.84
Prepayments
141,887,489.34
137,003,481.87
66,243,273.07
60,519,177.91
Premium receivable
Reinsurance accountants receivable
Reinsurance contract reserve receivables
Interest receivable
Dividend receivable
Other receivables
27,458,436.59
28,153,215.49
25,361,277.23
17,978,669.16
Buying back the sale of financial assets
Inventories
505,083,307.63
417,617,065.94
440,416,228.67
326,373,717.04
Non-current assets due within 1 year
Other current assets
14,739,629.82
14,621,229.31
17,326,441.89
17,326,441.89
Total current assets
3,511,519,752.04
3,055,049,703.06
2,880,931,571.83
2,485,162,925.65
Non-current assets
Loans and advancesFinancial assets available for sale
425,712.00
425,712.00
312,816.00
312,816.00
Investments held to maturity
Long-term accounts receivable
Long-term equity investment
145,349,076.58
781,392,033.30
144,060,027.63
780,102,984.35
Investment real estate
Fixed assets
600,346,984.88
504,171,323.97
591,877,098.11
492,656,905.52
Construction in progress
13,750,456.02
13,674,387.64
23,101,817.68
23,101,817.68
Construction materials
Fixed assets disposal
Productive biological assets
Oil assets
Intangible assets
140,682,254.35
114,699,367.52
141,527,568.63
115,411,645.61
Development expenses
Goodwill
Long-term deferred expenses
23,830,162.03
14,384,213.77
16,773,746.67
7,062,716.07
Deferred income tax assets
97,518,838.55
98,484,740.86
80,045,127.37
82,168,839.89
Other non-current assets
Total of non-current assets
1,021,903,484.41
1,527,231,779.06
997,698,202.09
1,500,817,725.12
Total assets
4,533,423,236.45
4,582,281,482.12
3,878,629,773.92
3,985,980,650.77
Current liabilities
Short-term borrowings
1,000,000.00
Borrowings from Central Bank
Deposits and sue to banks and other financial institutions
Call loan received
Transaction financial liabilities
Notes payable
165,336,799.55
158,336,799.55
14,000,000.00
Accounts payable
1,663,170,343.78
1,711,666,862.68
1,552,443,101.69
1,293,432,088.39
Advances from customers
174,791,433.45
131,494,787.04
135,076,044.68
107,001,841.73
Financial assets sold for repurchase
Fees and commissions payable
Payroll payable
61,297,089.47
38,557,371.17
66,748,481.77
39,463,034.59
Taxes payable
53,286,883.29
43,526,971.04
116,221,316.66
111,804,042.76
Interest payable
Dividend payable
2,719,702.95
2,669,154.60
2,967,922.95
2,917,374.60
Other payables
396,702,076.38
33,578,997.42
60,542,744.72
36,210,266.59
Reinsurance payable
Insurance contract reserve
Acting trading securities
Acting underwriting securities
Non-current liabilities due within 1 year
Other current liabilitiesTotal current liabilities
2,517,304,328.87
2,119,830,943.50
1,948,999,612.47
1,590,828,648.66
Non-current liabilities:
Long-term borrowings
Bonds payable
Long-term payables
Special payables
Estimated liabilities
11,213,500.02
11,213,500.02
Deferred income tax liabilities
48,811.80
48,811.80
31,877.40
31,877.40
Other non-current liabilities
5,338,900.00
2,250,000.00
3,679,000.00
2,400,000.00
Total non-current liabilities
16,601,211.82
2,298,811.80
14,924,377.42
2,431,877.40
Total liabilities
2,533,905,540.69
2,122,129,755.30
1,963,923,989.89
1,593,260,526.06
Owners’ equity (or shareholders’ equity):
Paid-in capital (or share capital)
547,655,760.00
547,655,760.00
547,655,760.00
547,655,760.00
Capital surplus
507,628,752.34
512,199,078.87
507,532,790.74
512,103,117.27
Less: treasury stock
Specific reserves
Surplus reserve
177,769,733.30
175,549,178.65
177,769,733.30
175,549,178.65
General risk reserve
Retained earnings
700,214,091.62
1,224,747,709.30
621,953,000.06
1,157,412,068.79
Foreign exchange difference
Total equity attributable to owners of the parent company
1,933,268,337.26
2,460,151,726.82
1,854,911,284.10
2,392,720,124.71
Minority interest
66,249,358.50
59,794,499.93
Total owners’ equity
1,999,517,695.76
2,460,151,726.82
1,914,705,784.03
2,392,720,124.71
Total liabilities and owners’ equity
4,533,423,236.45
4,582,281,482.12
3,878,629,773.92
3,985,980,650.77
4.2 Income Statement
Prepared by Wuxi Little Swan Company Limited Jan.-Mar. 2010 Unit: RMB Yuan
Amount in this period
Amount in the previous period
Items
Consolidation
Parent company
Consolidation
Parent company
. Total operation revenueⅠ
1,662,106,246.14
1,455,612,819.47
974,105,929.15
643,211,676.28
Including: sales revenue
1,662,106,246.14
1,455,612,819.47
974,105,929.15
643,211,676.28
Interest income
Premium income
Fee and commission income
. Total operation costⅡ
1,562,834,368.74
1,377,317,672.01
955,306,070.43
610,505,844.13
Including: cost of sales
1,390,576,461.62
1,226,228,897.04
788,361,309.11
481,199,710.50
Interest expenses
Fee and commission expenses
Payments on surrenders
Net claim expenses
Net amount of withdrawn from the insurance contract reservePolicyholder dividends
Amortized reinsurance expenses
Business taxes and surcharges
5,091,868.01
4,510,327.76
7,247,483.23
6,639,280.74
Selling expenses
104,366,030.10
98,137,300.13
117,938,509.69
96,239,397.28
Administrative expenses
77,055,101.38
60,371,603.72
40,946,880.74
26,763,192.87
Financial expenses
-1,171,952.69
-1,028,701.85
749,646.93
-335,737.26
Asset impairment loss
-13,083,139.68
-10,901,754.80
62,240.73
Add: gain/loss from changes in fair value (“-” for loss)
Gain/loss from investment (“-” for loss)
1,289,048.95
1,289,048.95
11,055,072.87
-23,362,768.60
Including: investment gains from affiliated enterprises and joint ventures
Gains/losses from foreign exchange difference (“-” for loss)
. Operation profit (“Ⅲ-” for loss)
100,560,926.35
79,584,196.41
29,854,931.59
9,343,063.55
Add: non-business income
2,753,456.83
1,521,481.07
16,751,638.84
16,001,189.70
Less: non-business expense
3,387,664.18
1,887,276.88
2,649,092.76
1,351,979.87
Including: losses from non-current asset disposal
. Total profit (“Ⅳ-” for loss)
99,926,719.00
79,218,400.60
43,957,477.67
23,992,273.38
Less: income tax expenses
15,210,768.87
11,882,760.09
8,088,837.93
6,601,255.86
. Net profit (“Ⅴ-” for loss)
84,715,950.13
67,335,640.51
35,868,639.74
17,391,017.52
Attributable to owners of parent company
78,261,091.56
67,335,640.51
43,639,765.07
17,391,017.52
Minority interest
6,454,858.57
-7,771,125.33
. Earnings per share Ⅵ
(I) Basic earnings per share
0.14
0.08
(II) Diluted earnings per share
0.14
0.08
. Other comprehensive income Ⅶ
95,961.60
95,961.60
2,244,051.00
2,244,051.00
. Total comprehensive income Ⅷ
84,811,911.73
67,431,602.11
38,112,690.74
19,635,068.52
Attributable to owners of parent company
78,357,053.16
67,431,602.11
45,883,816.07
19,635,068.52
Attributable to minority shareholders
6,454,858.57
-7,771,125.33
4.3 Cash flow statement
Prepared by Wuxi Little Swan Company Limited Jan.-Mar. 2010 Unit: RMB Yuan
Amount in this period
Amount in the previous period
Items
Consolidation
Parent company
Consolidation
Parent company
1. Cash flows from operating activities
Cash received from sales of goods or rendering of services
411,402,277.53
190,102,435.22
414,241,264.40
393,283,633.12
Deposits from customers and placements with banks and other financial institutions
Net increase of borrowings from central banks
Net increase of inter-bank loans from otherfinancial institutions
Cash received against original insurance contract
Net cash received from reinsurance
Net increase of policyholder deposits and investments
Net increase in disposal of transaction financial assets
Interest, handling charges and commissions received
Net increase of placements from banks
Net increase of cash received under repurchasing
Tax and fare refunded
5,797,837.82
1,671,549.63
9,293,677.80
Other cash received from operating activities
9,541,818.80
4,437,805.02
11,813,087.24
9,465,437.16
Sub-total of cash inflows from operating activities
426,741,934.15
196,211,789.87
435,348,029.44
402,749,070.28
Cash paid for goods and services
519,856,868.26
436,626,341.60
190,471,891.92
139,904,796.51
Net increase of loans and advances for customers
Net increase of deposits in central bank, banks and other financial institutions
Cash paid for original contract claims
Cash paid for interest, fees and commissions
Cash paid for policy dividends
Cash paid to and on behalf of employees
89,060,780.80
65,712,678.46
60,764,481.97
38,678,932.88
Taxes and fares paid
126,289,871.15
116,521,840.62
68,956,107.53
60,082,565.89
Other cash paid relating to operating activities
77,985,542.48
61,520,026.89
90,214,579.66
77,643,059.31
Sub-total of cash outflows from operating activities
813,193,062.69
680,380,887.57
410,407,061.08
316,309,354.59
Net cash flows from operating activities
-386,451,128.54
-484,169,097.70
24,940,968.36
86,439,715.69
2. Cash flows from investing activities
Cash received from return of investments
Cash received from investment income
Net cash received from disposal of fixed assets, intangible assets and other long-term assets
8,059,249.10
8,059,249.10
1,155,562.81
Net cash received from disposal of subsidiaries and other operating units
Other cash received from investing activities
Sub-total of cash inflows of investing activities
8,059,249.10
8,059,249.10
1,155,562.81
Cash paid for acquiring fixed assets, intangible assets and other long-term assets
16,506,899.27
11,655,143.70
4,516,646.44
924,684.76
Cash paid for investments
Net increase of pledge loans
Net cash paid for acquisition of subsidiaries and other operating units
Other cash paid relating to investing activitiesSub-total of cash outflows of investing activities
16,506,899.27
11,655,143.70
4,516,646.44
924,684.76
Net cash flows of investing activities
-8,447,650.17
-3,595,894.60
-3,361,083.63
-924,684.76
3. Cash flows of financing activities
Cash received from absorbing investments
Including: Cash received from minority shareholders of subsidiaries
Cash received from borrowings
18,900,000.00
Cash received from bonds issuing
Other cash received relating to financing activities
Sub-total of cash inflows of financing activities
18,900,000.00
Cash paid for settling debts
1,000,000.00
18,900,000.00
Cash paid for distribution of dividends or profit or reimbursing interest
216,487.50
1,793,422.67
Including: dividends or profits paid to minority shareholders by subsidiaries
Other cash paid relating to financing activities
Sub-total of cash outflows of financing activities
1,216,487.50
20,693,422.67
Net cash flows of financing activities
-1,216,487.50
-1,793,422.67
4. Effect of foreign exchange rate changes on cash and cash equivalents
5. Net increase of cash and cash equivalents
-396,115,266.21
-487,764,992.30
19,786,462.06
85,515,030.93
Add: cash and cash equivalents at period-begin
852,448,970.81
715,908,106.14
617,998,210.34
408,475,277.00
6. Cash and cash equivalents at period-end
456,333,704.60
228,143,113.84
637,784,672.40
493,990,307.93
4.4 Auditor’s report
Audit opinion: Un-audited
Wuxi Little Swan Company Limited
Chairman of the Board: Fang Hongbo
22 Apr. 2010
