WUXI LITTLE SWAN COMPANY LIMITED
THE THIRD 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 Financial Report in the third quarterly report has not been audited by a CPA firm.
1.3 Mr. Fang Hongbo, Person in charge of the Company, Ms. Ma Junxia, person in charge of accounting work and Mr. Zeng Rui, principal of accounting firm (chief of accounting) hereby confirm that the Financial Report enclosed in the Quarterly Report is true and complete.
§2. Company Profile
2.1 Main accounting data and financial indexes
Unit: RMB Yuan
As at 30 Sep. 2010
As at 31 Dec. 2009
Increase/decrease (%)
Total assets (RMB)
6,361,184,081.76
3,878,629,773.92
64.01%
Owners’ equity attributable to shareholders of listed company (RMB)
2,118,607,841.11
1,854,911,284.10
14.22%
Share capital (share)
547,655,760.00
547,655,760.00
0.00%
Net assets per share attributable to shareholders of listed company (RMB/share)
3.87
3.39
14.22%
Jul.-Sep. 2010
Increase/decrease year-on-year (%)
Jan.-Sep. 2010
Increase/decrease year-on-year (%)
Total operation income (RMB)
1,944,389,563.51
91.47%
5,578,524,408.57
91.18%
Net profit attributable to shareholders of listed company (RMB)
92,982,597.84
35.82%
261,346,928.79
92.37%
Net cash flows generated from operating activities (RMB)
-
-
981,007,550.61
169.21%
Net cash flows per share generated from
-
-
1.79
169.21%operating activities (RMB/share)
Basic earnings per share (RMB/share)
0.17
30.77%
0.48
92.00%
Diluted earnings per share (RMB/share)
0.17
30.77%
0.48
92.00%
Weighted average return on net assets (%)
4.48%
0.62%
13.15%
5.49%
Weighted average return on net assets after deducting extraordinary gains and losses (%)
3.74%
0.10%
12.43%
5.65%
Items of non-recurring gains and losses
Amount from year-begin to the end of this report period
Note
Gains and losses from disposal of non-current assets
3,846,086.74
Government subsidies measured into the current period gain and loss, excluding those government subsidies closely related to the Company’s business that the Company enjoyed continually at the certain standard rating and in conformity with provisions of policies of the State
17,027,735.11
Other non-operating income and expenses besides the above items
-2,685,412.30
Impact on income tax
-2,665,477.72
Impact on minority interests
-1,140,176.91
Total
14,382,754.92
-
2.2 Total number of shareholders at the end of the report period and statement on shares held by the top ten shareholders holding shares not subject to trading moratorium
Unit: Share
Total number of shareholders
19,137
Shares held by the top ten shareholders holding shares not subject to trading moratorium
Full name of shareholder
Number of shares not subject to trading moratorium
Type of share
GD Midea Holding Co., Ltd.
131,510,011
RMB ordinary shares
GAOLING FUND,L.P.
41,602,180
Domestically listed foreign shares
TITONI INVESTMENTS DEVELOPMENT LTD.
30,851,714
Domestically listed foreign shares
WuXi Municipal Bureau of Finance
22,057,657
RMB ordinary shares
BOCI SECURITIES LIMITED
21,264,786
Domestically listed foreign shares
ICBC－Penghua Good Governance Stock Securities Investment Fund (LOF)
17,077,396
RMB ordinary shares
China Construction Bank—Yinhua Wealth Theme Stock Securities Investment Fund
11,251,350
RMB ordinary shares
Bank of Communications－Penghua China 50 Open Securities Investment Fund
10,791,508
RMB ordinary shares
Agricultural Bank of China－Penghua Motivity Growth Mixed Fund
9,999,564
RMB ordinary sharesAgricultural Bank of China—Bank of Communications Schroders Selected Stock Securities Investment Fund
9,534,131
RMB 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
Items
Amount of current period
Opening amount
Rate of change
Reason for change
Monetary funds
1,786,798,307.78
852,448,970.81
109.61%
In order to quicken turnover of capital and reduce financing cost, the Company discounted part notes receivable.
Notes receivable
2,059,083,744.26
604,499,731.15
240.63%
Notes receivable increased due to increase of income from domestic sales.
Payment in advance
171,730,346.10
66,243,273.07
159.24%
Payment in advance for new machines and equipment.
Other accounts receivable
14,504,247.76
25,361,277.23
-42.81%
Quickened callback of temporary arrearage
Other current assets
38,635,906.10
17,326,441.89
122.99%
The Company enlarged development of new products in this period, small amount expense for moulds increased accordingly.
Long-term deferred expenses
37,619,606.43
16,773,746.67
124.28%
The Company enlarged development of new products in this period, large amount expense for moulds increased accordingly.
Short-term borrowings
----
1,000,000.00
-100%
The borrowing was returned in order to reduce financing cost.
Notes payable
1,370,929,157.79
14,000,000.00
9692.35%
Notes payable in current period were bank’s acceptance bills opened by the Company.
Accounts payable
2,441,701,364.39
1,552,443,101.69
57.28%
Accounts payable increased was due to increase of sales promoted increase of purchase volume.
Taxes payable
44,923,047.16
116,221,316.66
-61.35%
Taxes payable decreased due to influence from purchase cycle.
Projected liabilities
21,440,050.02
11,213,500.02
91.20%
Projected expense for after-sale service increased.
Other non-current liabilities
4,974,950.00
3,679,000.00
35.23%
Technical innovation project of the Company obtained government subsidies.
Retained profit
883,299,928.85
621,953,000.06
42.02%
Retained profit increased along with increase of sales scale.
Index
Amount of current period
Same period of last year
Rate of change
Reason for change
Operating revenue
5,578,524,408.57
2,917,972,991.53
91.18%
Effect of network distribution pushed by the Company was remarkable, and channel networkmatured rapidly.
Operating cost
4,720,109,340.46
2,250,684,996.86
109.72%
Increased with income
Administrative expenses
175,834,095.50
94,524,104.24
86.02%
Administrative cost and range enlarged with increase of income, which caused expenses increased.
Financial expenses
21,508,698.40
2,392,171.01
799.13%
Financial expenses increased due to discount of part notes receivable and fluctuation of exchange rate in current period.
Assets impairment loss
-1,882,519.50
6,729,217.18
-127.98%
Accounts receivable called back in time at the year-begin, accounts receivable within one year decreased compared with the year-begin.
Investment income
84,650.72
-5,112,628.04
-101.66%
Disposal of subsidies caused serious loss at the same period of last year, and there was no disposal of subsidiary in current period.
Non-operating expenses
12,259,198.81
19,356,899.98
-36.67%
The Company renewed the old equipment in order to improve production efficiency at the same period of last year, and expenses for scrap
Income tax expense
53,847,767.29
23,815,385.11
126.10%
Income tax increased with profit.
Minority interest income
22,885,964.84
-463,046.90
-5042.47%
Subsidiaries of the Company realized profit in current period.
Net cash flows from operating activities
981,007,550.61
364,408,055.56
169.21%
The company discounted some note receivable in this period, and accelerated callback of payment for goods.
Net cash flows from investing activities
-44,571,833.88
38,220,540.71
-216.62%
The Company disposed subsidiary and called back cash at the same period of last year.
Net cash flows from financing activities
-2,086,379.76
-20,796,912.25
-89.97%
The Company paid back the former borrowings, and there was no new loan.
3.2 The progress of significant events and its influence, as well as the analysis and explanation on solutions
3.2.1 About non-standard opinion
□Applicable √Inapplicable
3.2.2 The Company offer capital to the controlling shareholder or other related parties and provide external guarantees in violation of the prescribed procedures.
□Applicable √Inapplicable
3.2.3 Signing contract and execution of significant contract on routine operation
□Applicable √Inapplicable
3.2.4 Others
□Applicable √Inapplicable
3.3 Execution of commitments made by the Company, shareholders and actual controller√Applicable □Inapplicable
Commitment
Commitment maker
Content
Execution
Commitment on share reform
None
None
None
Commitments made in the purchase report or the report on equity changes
Controlling shareholder and 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 interestsof the Company and its other shareholders, and adopt appropriateways to settle such problem as horizontal competitionamong GD Midea, the actual controller and the Company within three years after finishing the said transaction.
At present, the Company is in progress of significant assets reorganizationto solve problem of horizontal competition
Commitments made in major assets restructuring
Controlling shareholder and actual controller
1) Commitment on avoid of horizontal competition. Midea Electric Appliance and Mr. He Xiangjian promised and ensured that: (1) Up to date of signature of commitment letter, Midea Electric Appliance, Mr. He Xiangjianand his other holding subsidiaries company didn’t directly or indirectly engage producing or operating activities which was the same or similar to current main business of Little Swan and composed material horizontal competition excluding Hefei Rongshida Washing Equipment Manufacturing Co., Ltd & its subsidiarycompany and Little Swan & its subsidiary company. (2) After this transaction, when shareholders and actual controller remained unchanged, Midea Electric Appliance, Mr. He Xiangjian and other subsidiary companies under his control excluding the Company and the Company’s subordinate company will not increase business or establish new subsidiarycompany engaged in business same, similar of composing material horizontal competition to the Company. (3) Incase that Midea Electric Appliance and other enterprise controlled by Mr. He Xiangjian excluding the Company and its subsidiary company acted against the above commitment, profit from relevant business will contribute to the Company.
2) Commitment on standardizerelated transaction. Midea Electric Appliance and Mr. He Xiangjian promise that when there will be inevitable related transactions or with reasonablereason after the completion of the transaction, they will follow principal of fair, reasonable andmarketization to confirm and sign relevant agreement on relating transactionand ensure interest of the Company and other shareholders. In case that Midea Electric Appliance and Mr. He Xiangjian act against the above promise or ensure, damaging interest of the Company and other shareholders, they will bear relevant responsibility according to relevant provisions.
At present, the significant asset reorganizationis in progress3) Commitment on share lock. Midea Electric Appliance committed that they will not transfer any shares of the Company held within 36 months since the end of non-public offering shares of the Company.
4) Commitment on attributionof gains and losses from underlying assets in transition period. Midea Electric Appliance committed that profit from underlying assets and relevant business would attribute to the Company while loss would bear by Midea Electric Appliance from benchmark day to the date of completion of transfer of underlying assets
Commitments made in stock issuance
None
None
None
Other commitments (including additional commitments)
None
None
None
3.4 Warnings of possible losses or major changes of the accumulative net profit achieved during the period from year-begin to the end of the next report period compared with the same period of last year, as well as explanation on reasons
□Applicable √Inapplicable
3.5 Other significant events that need to be explained
3.5.1 Securities Investment
√Applicable □Inapplicable
Unit: Yuan
No.
Securities variety
Securities code
Short form of securities
Initial investment amount (RMB)
Number of shares held at the period-end (share)
Book value at period-end (RMB)
Proportion in total securities investment at period-end (%)
Profits or losses in the report period
1
Stock
400038
Huaxin Gaoke
100,300.00
235,200
425,712.00
100.00%
0.00
Other securities investment held at the period-end
0.00
-
0.00
0.00%
0.00
Profits or losses of securities 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 Researches, interviews and visits received in report periodReception time
Reception place
Reception way
Visitor
Main discussion and materials provided by the Company
9 Mar. 2010
Meeting Room of the Company
Field research
Ping An Securities, Penghua Fund Management Co., Ltd., Bosera Funds and Shanghai Securities
Overall operation of the Company
10 Mar. 2010
Meeting Room of the Company
Field research
Fullgoal Fund Management Co., Ltd, Xiangcai Securities, Guosen Securities and China Southern Fund
Overall operation of the Company
10 Mar. 2010
Meeting Room of the Company
Field research
Caitong Securities
Overall operation of the Company
11 Mar. 2010
Meeting Room of the Company
Field research
Morgan Stanley, Everbright Securities and Haitong Securities
Overall operation of the Company
11 Mar. 2010
Meeting Room of the Company
Field research
Guodu Securities, Northeast Securities and Guoyuan Securities
Overall operation of the Company
16 Mar. 2010
Meeting Room of the Company
Field research
Mitsubishi UFJ Securities Co., Ltdand Haitong Securities
Overall operation of the Company
17 Mar. 2010
By telephone
By telephone
Nezu Fund and Morgan Stanley
Overall operation of the Company
18 Mar. 2010
Meeting Room of the Company
Field research
Invesco and Invesco Greatwall
Overall operation of the Company
26 Mar. 2010
Meeting Room of the Company
Field research
Bank of Communications Schroder, CICC, Western Securities, Cinda Securities and Shanghai Congrong Investment
Overall operation of the Company
2 Apr. 2010
Meeting Room of the Company
Field research
China Merchants Securities
Overall operation of the Company
9 Apr. 2010
Other site
Field research
Och-Ziff Capital
Overall operation of the Company
16 Apr. 2010
Meeting Room of the Company
Field research
Sinolink Securities
Overall operation of the Company
28 Apr. 2010
Meeting Room of the Company
Field research
Donghai Securities and Oriental Securities
Overall operation of the Company
30 Apr. 2010
Meeting Room of the Company
Field research
Zeal Asset Management
Overall operation of the Company
17 May 2010
Meeting Room of the Company
Field research
Bank of Communications Schroders
Overall operation of the Company
24 May 2010
Meeting Room of the Company
Field research
Tocqueville Asset Management L.P.
Overall operation of the Company
1 Jun. 2010
Meeting Room of the Company
Field research
Zheshang Securities
Overall operation of the Company8 Jun. 2010
Meeting Room of the Company
Field research
ICBC Credit Suisse Assets Management Co., Ltd
Overall operation of the Company
2 Jul. 2010
Meeting Room of the Company
Field research
Western Securities and Xiangcai Securities
Overall operation of the Company
7 Jul. 2010
Meeting Room of the Company
Field research
Essence Securities
Overall operation of the Company
15 Jul. 2010
Meeting Room of the Company
Field research
Central China Securities
Overall operation of the Company
16 Jul. 2010
By telephone
By telephone
Nezu Fund and Morgan Stanley
Overall operation of the Company
21 Jul. 2010
Meeting Room of the Company
Field research
China International Capital Corporation Limited, Bank of Communications Schroders, Fullgoal Fund Management Co., Ltd and China Merchants Fund
Overall operation of the Company
6 Aug. 2010
Meeting Room of the Company
Field research
Taikang Asset Management Co., Ltd
Overall operation of the Company
26 Aug. 2010
Meeting Room of the Company
Field research
Sinolink Securities,Guotai Asset Management Co., Ltd and Citic Kinton Securities
Overall operation of the Company
2 Sep. 2010
Meeting Room of the Company
Field research
Aerospace Securities
Overall operation of the Company
8 Sep. 2010
Meeting Room of the Company
Field research
Guodu Securities, Haitong Securities, Guotai Junan Securities, Minsheng Securities, Shanghai Honghu Investment,Manulife Teda Funad Management Co., Ltd and First State Cinda Fund Management Co., Ltd
Overall operation of the Company
8 Sep. 2010
Meeting Room of the Company
Field research
Ping’anAsset Management and China Jianyin Investment Securities
Overall operation of the Company
13 Sep. 2010
Meeting Room of the Company
Field research
Changjiang Securities
Overall operation of the Company
15 Sep. 2010
Meeting Room of the Company
Field research
Shanghai Chongyang Investment Management Co., Ltd
Overall operation of the Company
16 Sep. 2010
Meeting Room of the Company
Field research
Everbright securitiesand New China Asset Management Co., Ltd
Overall operation of the Company
3.6 Investment of financial derivatives
□Applicable √Inapplicable
3.6.1 Financial derivatives held during this report period
□Applicable √Inapplicable§ 4 Attachments
4.1 Balance sheet
Prepared by Wuxi Little Swan Company Limited Sep. 30, 2010 Unit: RMB Yuan
Closing balance
Opening balance
Items
Consolidation
Parent company
Consolidation
Parent company
Current assets:
Monetary funds
1,786,798,307.78
1,571,078,636.62
852,448,970.81
743,637,877.78
Settlement fund reserve
Dismantle fund
Transaction financial asset
Notes receivable
2,059,083,744.26
1,958,401,569.63
604,499,731.15
571,266,822.03
Account receivable
848,504,299.83
665,831,433.05
874,635,649.01
748,060,219.84
Account paid in advance
171,730,346.10
157,446,180.04
66,243,273.07
60,519,177.91
Premium receivables
Receivables from reinsurers
Reinsurance contract reserve receivables
Interest receivable
Dividend receivable
Other accounts receivable
14,504,247.76
12,502,609.33
25,361,277.23
17,978,669.16
Financial assets purchased under agreements to resell
Inventories
379,555,364.15
300,828,494.63
440,416,228.67
326,373,717.04
Non-current assets due within 1 year
Other current assets
38,635,906.10
35,154,329.15
17,326,441.89
17,326,441.89
Total current assets
5,298,812,215.98
4,701,243,252.45
2,880,931,571.83
2,485,162,925.65
Non-current assets:
Loans and advance
Available for sale financial assets
324,576.00
324,576.00
312,816.00
312,816.00
Held to maturity investments
Long-term account receivable
Long-term equity investment
122,160,831.65
803,706,288.37
144,060,027.63
780,102,984.35
Investing property
Fixed asset
635,145,776.71
536,712,022.55
591,877,098.11
492,656,905.52
Project in construction
29,009,230.72
17,376,259.53
23,101,817.68
23,101,817.68Engineering material
Fixed asset disposal
Bearer biological asset
Oil assets
Intangible assets
138,646,231.36
113,274,811.34
141,527,568.63
115,411,645.61
Development expense
Goodwill
Long-term deferred expense
37,619,606.43
29,991,156.82
16,773,746.67
7,062,716.07
Deferred tax assets
99,465,612.91
102,186,436.09
80,045,127.37
82,168,839.89
Other non-current assets
Total of non-current assets
1,062,371,865.78
1,603,571,550.70
997,698,202.09
1,500,817,725.12
Total assets
6,361,184,081.76
6,304,814,803.15
3,878,629,773.92
3,985,980,650.77
Current liabilities:
Short-term borrowings
1,000,000.00
Borrowing from Central Bank
Deposits and due to banks and other financial institutions
Borrowed inter-bank funds
Transaction financial liabilities
Notes payable
1,370,929,157.79
1,370,929,157.79
14,000,000.00
Account payable
2,441,701,364.39
2,104,294,765.05
1,552,443,101.69
1,293,432,088.39
Account received in advance
135,286,697.90
109,412,744.30
135,076,044.68
107,001,841.73
Financial assets sold under agreements to repurchase
Handling charges and commission payable
Employees’ compensation payable
74,168,936.13
43,688,874.81
66,748,481.77
39,463,034.59
Tax payable
44,923,047.16
37,827,240.93
116,221,316.66
111,804,042.76
Interest payable
Dividend payable
2,669,154.60
2,669,154.60
2,967,922.95
2,917,374.60
Other account payable
78,104,129.52
43,347,106.17
60,542,744.72
36,210,266.59
Due to reinsurers
Insurance contract reserve
Amount for acting trading securities
Amount payables under security underwritingNon-current liabilities due within 1 year
Other current liabilities
Total current liabilities
4,147,782,487.49
3,712,169,043.65
1,948,999,612.47
1,590,828,648.66
Non-current liabilities:
Long-term borrowings
Debentures payable
Long-term payables
Specific purpose account payables
Provisions for contingent liabilities
21,440,050.02
11,213,500.02
Deferred tax liabilities
33,641.40
33,641.40
31,877.40
31,877.40
Other non-current liabilities
4,974,950.00
1,950,000.00
3,679,000.00
2,400,000.00
Total non-current liabilities
26,448,641.42
1,983,641.40
14,924,377.42
2,431,877.40
Total liabilities
4,174,231,128.91
3,714,152,685.05
1,963,923,989.89
1,593,260,526.06
Owner’s equity (shareholders equity)
Paid-in capital(Share capital)
547,655,760.00
547,655,760.00
547,655,760.00
547,655,760.00
Capital surplus
510,428,139.77
512,113,113.27
507,532,790.74
512,103,117.27
Less: Treasury Stock
Specific reserves
Reserved fund
177,769,733.30
175,549,178.65
177,769,733.30
175,549,178.65
General risk provision
Retained earnings
883,299,928.85
1,355,344,066.18
621,953,000.06
1,157,412,068.79
Foreign exchange difference
-545,720.81
Total equity attributable to owners of parent company
2,118,607,841.11
2,590,662,118.10
1,854,911,284.10
2,392,720,124.71
Minority interest
68,345,111.74
59,794,499.93
Total owner’s equity
2,186,952,952.85
2,590,662,118.10
1,914,705,784.03
2,392,720,124.71
Total liabilities and owner’s equity
6,361,184,081.76
6,304,814,803.15
3,878,629,773.92
3,985,980,650.77
4.2 Income statement during the reporting period
Prepared by Wuxi Little Swan Company Limited Jul.-Sep. 2010 Unit: RMB Yuan
Current period
Same period of last year
Items
Consolidation
Parent company
Consolidation
Parent company
I. Total sales
1,944,389,563.51
1,728,695,445.84
1,015,484,367.29
810,075,587.12
Including: Sales
1,944,389,563.51
1,728,695,445.84
1,015,484,367.29
810,075,587.12
Interests incomePremium income
Handling charges and commission income
II. Total cost of sales
1,842,999,271.45
1,668,790,828.77
937,875,579.90
747,759,609.93
Including: Cost of sales
1,656,590,449.25
1,506,603,185.25
754,136,385.63
583,485,554.72
Interests expenses
Service charge and commission income
Cash surrender value
Claim expenses-net
Provision for insurance contract reserves-net
Insurance policy dividend paid
Reinsurance expense
Business taxes and surcharges
3,535,527.30
2,959,641.67
3,508,440.01
3,340,820.41
Distribution expenses
118,167,997.32
107,043,247.16
151,151,928.29
141,982,071.63
Administrative expenses
52,270,876.72
39,013,875.06
26,842,334.61
17,165,271.20
Financial costs
10,287,166.58
9,127,160.35
179,358.81
-783,710.65
Impairment loss
2,147,254.28
4,043,719.27
2,057,132.55
2,569,602.62
Add: gain/(loss) from change in fair value
Investment income
-352,959.21
-352,959.21
17,758,992.50
17,758,992.50
Including: income form investment on affiliated enterprise and jointly enterprise
Foreign exchange difference
III. Business profit
101,037,332.85
59,551,657.86
95,367,779.89
80,074,969.69
Add: non-operation income
19,961,346.50
15,937,999.38
4,285,886.91
3,225,616.01
Less: non-operation expense
1,044,708.90
691,348.46
12,110,429.64
8,927,454.09
Including: loss from non-current asset disposal
5,122.78
IV. Total profit
119,953,970.45
74,798,308.78
87,543,237.16
74,373,131.61
Less: Income tax expense
17,261,748.57
11,219,746.32
14,860,724.15
11,155,969.74
V. Net profit
102,692,221.88
63,578,562.46
72,682,513.01
63,217,161.87
-Attributable to parent company
92,982,597.84
63,578,562.46
68,461,574.22
63,217,161.87
-Minority interest
9,709,624.04
4,220,938.79
VI. Earnings per share
(I) Basic earnings per share
0.17
0.13
(II) Diluted earnings per share
0.17
0.13
VII. Other comprehensive income
7,996.80
7,996.80
-4,257,905.00
-4,257,905.00VIII. Total comprehensive income
102,700,218.68
63,586,559.26
68,424,608.01
58,959,256.87
Total comprehensive income attributable to owner of parent company
92,990,594.64
63,586,559.26
64,203,669.22
58,959,256.87
Total comprehensive income attributable to minority shareholders
9,709,624.04
4,220,938.79
4.3 Income statement from the year-begin to the end of reporting period
Prepared by Wuxi Little Swan Company Limited Jan.-Sep. 2010 Unit: RMB Yuan
Current period
Same period of last year
Items
Consolidation
Parent company
Consolidation
Parent company
I. Total sales
5,578,524,408.57
4,885,900,812.06
2,917,972,991.53
2,052,566,930.67
Including: Sales
5,578,524,408.57
4,885,900,812.06
2,917,972,991.53
2,052,566,930.67
Interests income
Premium income
Handling charges and commission income
II. Total cost of sales
5,258,716,807.92
4,667,340,037.75
2,758,011,283.55
1,884,917,061.19
Including: Cost of sales
4,720,109,340.46
4,209,327,554.86
2,250,684,996.86
1,490,106,664.57
Interests expenses
Service charge and commission income
Cash surrender value
Claim expenses-net
Provision for insurance contract reserves-net
Insurance policy dividend paid
Reinsurance expense
Business taxes and surcharges
13,490,511.70
11,839,646.30
14,468,653.78
12,900,020.82
Distribution expenses
329,656,681.36
299,977,128.64
389,212,140.48
341,641,929.47
Administrative expenses
175,834,095.50
129,809,462.20
94,524,104.24
59,678,510.73
Financial costs
21,508,698.40
22,205,536.58
2,392,171.01
-2,074,747.51
Impairment loss
-1,882,519.50
-5,819,290.84
6,729,217.18
-17,335,316.89
Add: gain/(loss) from change in fair value
Investment income
84,650.72
84,650.72
-5,112,628.04
-59,638,990.60
Including: income form investment on affiliated enterprise and jointly enterprise
Foreign exchange difference
III. Business profit
319,892,251.37
218,645,425.03
154,849,079.94
108,010,878.88Add: non-operation income
30,447,608.36
22,466,125.38
23,714,039.58
21,237,722.24
Less: non-operation expense
12,259,198.81
8,250,377.01
19,356,899.98
14,678,880.06
Including: loss from non-current asset disposal
IV. Total profit
338,080,660.92
232,861,173.40
159,206,219.54
114,569,721.06
Less: Income tax expense
53,847,767.29
34,929,176.01
23,815,385.11
17,185,458.16
V. Net profit
284,232,893.63
197,931,997.39
135,390,834.43
97,384,262.90
-Attributable to parent company
261,346,928.79
197,931,997.39
135,853,881.33
97,384,262.90
-Minority interest
22,885,964.84
-463,046.90
VI. Earnings per share
(I) Basic earnings per share
0.48
0.25
(II) Diluted earnings per share
0.48
0.25
VII. Other comprehensive income
9,996.00
9,996.00
105,957.60
105,957.60
VIII. Total comprehensive income
284,242,889.63
197,941,993.39
135,496,792.03
97,490,220.50
Total comprehensive income attributable to owner of parent company
261,356,924.79
197,941,993.39
135,959,838.93
97,490,220.50
Total comprehensive income attributable to minority shareholders
22,885,964.84
-463,046.90
4.4 Cash flow statement from the year-begin to the end of reporting period
Prepared by Wuxi Little Swan Company Limited Jan.-Sep. 2010 Unit: RMB Yuan
Current period
Last period
Items
Consolidation
Parent company
Consolidation
Parent company
I. Cash flows from operating activities
Cash received from sales of goods or rending of services
3,927,579,873.03
3,365,927,485.80
2,099,368,450.67
1,427,224,028.09
Net increase of deposits received and held for others
Net increase of loans from central bank
Net increase of inter-bank loans from other financial assets
Cash received against original insurance contract
Net Cash received from reinsurance
Net increase of client deposit and investment
Net increase of disposal of tradable financialassets
Cash received as Interests, fees and commissions received
Net increase of inter-bank fund received
Cash received under repurchasing, net
Tax returned
39,013,755.17
25,009,032.96
25,125,994.18
1,087,519.60
Other cash received from operating activities
25,673,875.74
18,844,253.36
40,780,052.10
22,748,798.68
Sub-total of cash inflow from operating activities
3,992,267,503.94
3,409,780,772.12
2,165,274,496.95
1,451,060,346.37
Cash paid for goods and services
2,120,092,784.47
1,778,099,567.17
1,202,759,934.94
649,072,240.95
Net increase of loans and advances
Net increase of deposit in central bank, banks and other financial institutions
Cash paid for original contract claim
Cash paid for interests, fees and commission
Cash paid for policy dividend
Cash paid to and for employees
228,484,739.62
176,964,144.19
138,645,659.34
92,805,221.16
Cash paid for all types of taxes
283,115,918.98
234,505,118.21
156,176,009.54
126,997,319.42
Other cash paid relating to operating activities
379,566,510.26
335,244,634.28
303,284,837.57
242,523,453.03
Sub-total of cash outflows
3,011,259,953.33
2,524,813,463.85
1,800,866,441.39
1,111,398,234.56
Net cash outflow in operating activities
981,007,550.61
884,967,308.27
364,408,055.56
339,662,111.81
II. Cash Flows from Investing Activities
Cash received from return of investments
Cash received from investment income
21,983,846.70
21,983,846.70
57,823,685.40
57,823,685.40
Net cash received from disposal of fixed assets, intangible assets and other long-term assets
19,406,700.95
18,993,740.95
752,190.00
335,700.00
Net cash received from disposal of subsidiaries and other operating units
43,081,975.82
81,500,028.84
Other cash received relating to investing activities
Sub-total of cash inflows of investing activities
41,390,547.65
40,977,587.65
101,657,851.22
139,659,414.24
Cash paid for acquisition of fixed assets, intangible assets and other long-term assets
74,142,881.53
52,880,368.73
63,437,310.51
50,042,580.96
Cash paid for acquisition of investments
Net increase of pledge loansNet cash paid for acquisition of subsidiaries and other operating units
11,819,500.00
45,325,000.00
Other cash paid relating to investing activities
Sub-total of cash outflows of investing activities
85,962,381.53
98,205,368.73
63,437,310.51
50,042,580.96
Net cash inflow from investing activities
-44,571,833.88
-57,227,781.08
38,220,540.71
89,616,833.28
III. Cash Flows from Financing Activities:
Cash received from investment
Including: Cash received from minority shareholders of subsidiaries
Cash received from borrowings
23,900,000.00
Cash received from bonds issuing
Cash received relating to financing activities
Sub-total of cash inflows of financing activities
23,900,000.00
Cash paid for repayments of borrowings
1,000,000.00
40,910,000.00
Cash paid for dividends, profit distribution or interest
1,086,379.76
298,768.35
3,786,912.25
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
2,086,379.76
298,768.35
44,696,912.25
Net cash inflow from financing activities
-2,086,379.76
-298,768.35
-20,796,912.25
IV. Effect of foreign exchange rate changes
V. Net decrease in cash and cash equivalents
934,349,336.97
827,440,758.84
381,831,684.02
429,278,945.09
Add : Opening amount of cash and cash equivalents
852,448,970.81
743,637,877.78
617,998,210.34
408,475,277.00
VI. Closing balance of cash and cash equivalents
1,786,798,307.78
1,571,078,636.62
999,829,894.36
837,754,222.09
4.5 Auditor’s report
Audit opinion: Un-audited
