Report for the First Quarter of 2014 of HaiNan Pearl River Holdings Co., Ltd.
HaiNan Pearl River Holdings Co., Ltd.
Report for the First Quarter of 2014
April 2014
1
Report for the First Quarter of 2014 of HaiNan Pearl River Holdings Co., Ltd.
Section I. Important Reminders
The Board of Directors, the Supervisory Committee, directors, supervisors and senior management
staff of HaiNan Pearl River Holdings Co., Ltd. (hereinafter referred to as “the Company”) warrant
that the information carried in this report is factual, accurate and complete, without any false record,
misleading statement or material omission. And they shall be jointly and severally liable for that.
All directors have attended the board session for reviewing this report.
Zheng Qing, company principal, and Yang Daoliang, chief of the accounting work and chief of the
accounting organ (chief of accounting), hereby confirm that the Financial Report enclosed in this
report is factual, accurate and complete.
This report is prepared in both Chinese and English. Should there be any discrepancy between the
two versions, the Chinese version shall prevail.
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Report for the First Quarter of 2014 of HaiNan Pearl River Holdings Co., Ltd.
Section II. Financial Highlights & Change of Shareholders
I. Main accounting data and financial indicators
Does the Company adjust retrospectively or restate accounting data of previous years due to change of the
accounting policy or correction of any accounting error?
□ Yes √ No
Jan.-Mar. 2014 Jan.-Mar. 2013 +/- (%)
Operating revenues (RMB Yuan) 75,218,398.46 62,592,524.54 20.17%
Net profit attributable to shareholders of
-35,538,513.44 -25,395,899.69 -39.94%
the Company (RMB Yuan)
Net profit attributable to shareholders of
the Company after extraordinary gains -35,502,994.82 -30,434,695.80 -16.65%
and losses (RMB Yuan)
Net cash flows from operating activities
-95,995,336.71 -32,277,707.08 -197.4%
(RMB Yuan)
Basic EPS (RMB Yuan/share) -0.08 -0.06 33.33%
Diluted EPS (RMB Yuan/share) -0.08 -0.06 33.33%
Weighted average ROE (%) -37.83% -11.47% -26.36%
31 Mar. 2014 31 Dec. 2013 +/- (%)
Total assets (RMB Yuan) 1,423,482,954.56 1,237,713,804.04 15.01%
Net assets attributable to shareholders of
71,149,003.97 116,714,215.59 -39.04%
the Company (RMB Yuan)
Items and amounts of extraordinary gains and losses
√ Applicable □ Inapplicable
Unit: RMB Yuan
Item 1 Jan. 2014-31 Mar. 2014 Explanation
Gains/losses on the disposal of non-current assets (including
-421.50
the offset part of the asset impairment provisions)
Capital occupation charges on non-financial enterprises that are
312,652.80
recorded into current gains and losses
Non-operating income and expense other than the above -347,323.44
Minority interests effects (after tax) 426.48
Total -35,518.62 --
Explain the reasons if the Company classifies an item as an extraordinary gain/loss according to the definition in
the Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the
Public—Extraordinary Gains and Losses, or classifies any extraordinary gain/loss item mentioned in the said
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Report for the First Quarter of 2014 of HaiNan Pearl River Holdings Co., Ltd.
explanatory announcement as a recurrent gain/loss item
□ Applicable √ Inapplicable
II. Total number of shareholders at the period-end and shareholdings of top 10 shareholders
Unit: share
Total number of shareholders at the
37,259
period-end
Shareholdings of top 10 shareholders
Number of Pledged or frozen shares
Name of Nature of Shareholding Number of
restricted Status of Number of
shareholder shareholder percentage (%) shares held
shares held shares shares
Beijing Wanfa
Real Estate State-owned
26.36% 112,479,478
Development Co., corporation
Ltd.
Xu Zhen Domestic 0.61% 2,590,200
natural person
Zhang Xiaoxia Domestic 0.46% 1,949,250
natural person
Domestic
Hu Zhengxiu 0.43% 1,845,500
natural person
Chen Mingwei Domestic 0.43% 1,827,900
natural person
Domestic
Li Hong 0.33% 1,400,500
natural person
Song Jing Domestic 0.32% 1,356,799
natural person
Nanhua Finance Domestic 0.31% 1,299,500 1,299,500
Co.,LeiLtd.
Ou non-state-owne
Domestic 0.3% 1,289,465
natural person
Domestic
Liu Guosheng 0.28% 1,175,616
natural person
Shareholdings of top 10 non-restricted shareholders
Variety of shares
Name of shareholder Number of non-restricted shares held
Variety Number
Beijing Wanfa Real Estate RMB ordinary
112,479,478 112,479,478
Development Co., Ltd. shares
RMB ordinary
Xu Zhen 2,590,200 2,590,200
shares
Domestically
Zhang Xiaoxia 1,949,250 listed foreign 1,949,250
shares
RMB ordinary
Hu Zhengxiu 1,845,500 1,845,500
shares
Chen Mingwei 1,827,900 Domestically 1,827,900
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Report for the First Quarter of 2014 of HaiNan Pearl River Holdings Co., Ltd.
listed foreign
shares
RMB ordinary
Li Hong 1,400,500 1,400,500
shares
RMB ordinary
Song Jing 1,356,799 1,356,799
shares
RMB ordinary
Ou Lei 1,289,465 1,289,465
shares
Domestically
Liu Guosheng 1,175,616 listed foreign 1,175,616
shares
Guangzhou Pearl River Enterprises RMB ordinary
1,150,000 1,150,000
Group shares
Among shareholders above, there exists no related-party relationship between the
Explanation on associated principal shareholder and other shareholders of the Company. Nor they are parties with
relationship or persons acting in concerted action as prescribed in the Information Disclosure Administrative Methods for
concert among the above-mentioned Changes in Shareholding of Shareholders of Listed Companies. And it is unknown
shareholders whether there is related-party relationship among other shareholders and whether they
are prescribed parties with concerted action.
Did any shareholder of the Company carry out an agreed buy-back in the reporting period?
□ Yes √ No
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Report for the First Quarter of 2014 of HaiNan Pearl River Holdings Co., Ltd.
Section III. Significant Events
I. Significant changes of the major accounting statement items and financial indicators for the
reporting period, as well as the reasons for these changes
Item 31 Mar. 2014 31 Dec. 2013 +/-% Reasons for the change
Monetary funds 111,022,578.43 62,362,242.69 78.03% A subsidiary secured more cash borrowings.
Subsidiary Hubei Pearl River Real Estate Development
Co., Ltd. increased its investment in the “Meilin
Inventories 249,248,993.61 118,546,684.93 110.25% Qingcheng Phase III Project”.
Other current assets 4,500,000.00 100.00% Subsidiaries acquired bank wealth management products.
Subsidiary Hubei Pearl River Real Estate Development
Other payables 735,844,500.79 555,911,820.21 32.37% Co., Ltd. secured a borrowing from another company.
The minority shareholders and the registered capital of
subsidiary Hubei Pearl River Real Estate Development
Minority interests 20,516,097.99 11,253,753.74 82.30% Co., Ltd. increased.
Item 31 Mar. 2014 31 Mar. 2013 +/-% Reasons for the change
The sales personnel of subsidiary Mudanjiang Pearl
River Wanjia Travel Investment and Development Group
Selling expenses 1,579,375.39 3,435,537.06 -54.03% Co., Ltd. decreased.
Financial expenses 25,549,141.58 15,205,396.83 68.03% The financing costs increased.
Asset impairment
loss 437,579.97 -1,428,641.10 130.63% Bad-debt provisions increased.
The minority interests of subsidiary Hubei Pearl River
Minority interest Real Estate Development Co., Ltd. increased and it
income -1,696,853.93 -917,616.62 -84.92% recorded a loss for the current period.
Subsidiary Hubei Pearl River Real Estate Development
Net cash flows from Co., Ltd. increased its investment in the “Meilin
operating activities -95,995,336.71 -32,277,707.08 -197.40% Qingcheng Phase III Project”.
Net cash flows from The cash received in investment withdrawal decreased
investing activities -18,636,529.55 21,052,622.45 -188.52% and the cash paid as investment increased.
Net cash flows from
financing activities 163,292,202.00 5,471,658.83 2884.33% The cash received as borrowings increased.
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Report for the First Quarter of 2014 of HaiNan Pearl River Holdings Co., Ltd.
II. Progress of significant events and analysis & explanations on their influence and solutions
See the details in the table below:
Website index to the disclosed relevant
Overview of the significant event Date of disclosure
interim report
About the transfer of the equities of the 18 Dec. 2013 http://www.cninfo.com.cn
majority shareholder and the planned 25 Dec. 2013 http://www.cninfo.com.cn
private placement from the Company to
24 Jan. 2014 http://www.cninfo.com.cn
TusHoldings, the State-owned Assets
Supervision and Administration 18 Mar. 2014 http://www.cninfo.com.cn
Commission of People’s Government of
Beijing Municipality planned to transfer
the equities of Beijing Xinxing Real
Estate Development Corp. (“Xinxing Real
Estate” for short), the actual controller of
the Company’s majority shareholder, from
18 Dec. 2013. Meanwhile, the Company
planned to carry out a private placement
with TusHoldings. Trading of the
Company’s shares was suspended from 18
18 Apr. 2014 http://www.cninfo.com.cn
Dec. 2013 for the reason for the said
significant event of asset reorganization in
planning. The Company promised to try
to disclose the information in relation to
the said significant event of asset
reorganization according to the Format
No. 26 and resume the share trading not
later than 19 May 2014. Currently, the
said significant event of asset
reorganization is proceeding.
On 17 Dec. 2013, the 4th Session of the 20 Dec. 2013 http://www.cninfo.com.cn
7th Board of Directors of the Company
approved controlled subsidiary Hubei
Pearl River Real Estate Development Co.,
Ltd. to bring in private real estate funds of
8 Jan. 2014 http://www.cninfo.com.cn
RMB 250 million in total for the
preliminary development of the phase III
of its project. And RMB 160 million
arrived in the reporting period.
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Report for the First Quarter of 2014 of HaiNan Pearl River Holdings Co., Ltd.
III. Commitments made by the Company or any shareholder with a shareholding over 5% in
the reporting period or such commitments made in previous period and carried down into the
reporting period
Naught
IV. Predict the operating results of Jan.-Jun. 2014
Warning of possible loss or considerable YoY change of the accumulated net profit made during the period-begin
to the end of the next reporting period according to prediction, as well as explanations on the reasons:
□ Applicable √ Inapplicable
V. Securities investments
Shareholdings in other listed companies
Unit: RMB Yuan
Stake in Gain/loss in Changes in owners’
Stock Stock Number of Closing book
Initial investment the the reporting equity in the reporting
code abbr. shares held value
investee period period
7.75
million
600369 XNZQ RMB 150 million shares 0.27% 64,867,500.00 -9,067,500.00
The stake in Southwest Securities changed due to the private placement that it carried out.
VI. Investments in derivatives
Naught
VII. Researches, visits and interviews received in the reporting period
Main discussion and
Time of Place of
Way of reception Visitor type Visitor materials provided by the
reception reception
Company
Asked about the
suspension of the
Department of Individual Company’s shares and
3 Jan. 2014 By phone Individual
Securities investor replied to the contents of
the Company’s
announcement
The Mulin Town Special
Department of Individual Railway and Coal
6 Jan. 2014 By phone Individual
Securities investor Wholesale Market
projects
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Report for the First Quarter of 2014 of HaiNan Pearl River Holdings Co., Ltd.
Department of Individual The Company’s business
7 Jan. 2014 By phone Individual
Securities investor performance
The disclosure date of the
Department of Individual
7 Jan. 2014 By phone Individual Company’s performance
Securities investor
forecast
Asked about the
suspension of the
Department of Individual Company’s shares and
15 Jan. 2014 By phone Individual
Securities investor replied to the contents of
the Company’s
announcement
The disclosure date of the
Department of Individual
15 Jan. 2014 By phone Individual Company’s performance
Securities investor
forecast
Asked about the
suspension of the
Department of Individual Company’s shares and
4 Feb. 2014 By phone Individual
Securities investor replied to the contents of
the Company’s
announcement
Asked about the
suspension of the
Department of Individual Company’s shares and
26 Mar. 2014 By phone Individual
Securities investor replied to the contents of
the Company’s
announcement
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Report for the First Quarter of 2014 of HaiNan Pearl River Holdings Co., Ltd.
Section IV. Financial Statements
I. Financial statements
1. Consolidated balance sheet
Prepared by HaiNan Pearl River Holdings Co., Ltd.
Unit: RMB Yuan
Item Closing balance Opening balance
Current assets:
Monetary funds 111,022,578.43 62,362,242.69
Settlement reserves
Intra-group lendings
Transactional financial assets
Notes receivable
Accounts receivable 12,614,705.30 13,143,175.36
Accounts paid in advance 89,540,360.80 91,018,812.99
Premiums receivable
Reinsurance premiums receivable
Receivable reinsurance contract
reserves
Interest receivable
Dividend receivable 260,015.00 260,015.00
Other accounts receivable 308,036,553.77 287,625,206.34
Financial assets purchased under
agreements to resell
Inventories 249,248,993.61 118,546,684.93
Non-current assets due within 1
year
Other current assets 4,500,000.00
Total current assets 775,223,206.91 572,956,137.31
Non-current assets:
Loans by mandate and advances
granted
Available-for-sale financial assets 64,867,500.00 76,957,500.00
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Report for the First Quarter of 2014 of HaiNan Pearl River Holdings Co., Ltd.
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investment 47,940,981.62 48,179,838.13
Investing property 23,461,509.62 23,984,418.97
Fixed assets 444,932,649.07 452,747,443.22
Construction in progress 10,188,964.09 10,188,964.09
Engineering materials 606,206.60 606,206.60
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets 31,321,912.19 31,185,913.86
R&D expense
Goodwill
Long-term deferred expenses 24,940,024.46 20,907,381.86
Deferred income tax assets
Other non-current assets
Total of non-current assets 648,259,747.65 664,757,666.73
Total assets 1,423,482,954.56 1,237,713,804.04
Current liabilities:
Short-term borrowings
Borrowings from Central Bank
Customer bank deposits and due to
banks and other financial institutions
Intra-group borrowings
Transactional financial liabilities
Notes payable
Accounts payable 35,036,279.32 34,758,922.28
Accounts received in advance 23,946,282.53 23,843,858.07
Financial assets sold for repurchase
Handling charges and commissions
payable
Employee’s compensation payable 8,882,459.08 10,764,089.33
Tax payable 8,406,616.51 8,600,877.07
Interest payable 112,998,670.73 101,140,724.11
Dividend payable 3,213,302.88 3,213,302.88
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Report for the First Quarter of 2014 of HaiNan Pearl River Holdings Co., Ltd.
Other accounts payable 735,844,500.79 555,911,820.21
Reinsurance premiums payable
Insurance contract reserves
Payables for acting trading of
securities
Payables for acting underwriting of
securities
Non-current liabilities due within 1
228,000,000.00 228,000,000.00
year
Other current liabilities
Total current liabilities 1,156,328,111.84 966,233,593.95
Non-current liabilities:
Long-term borrowings 164,000,000.00 129,000,000.00
Bonds payable
Long-term payables
Specific payables
Estimated liabilities
Deferred income tax liabilities 11,489,740.76 14,512,240.76
Other non-current liabilities
Total non-current liabilities 175,489,740.76 143,512,240.76
Total liabilities 1,331,817,852.60 1,109,745,834.71
Owners’ equity (or shareholders’
equity)
Paid-up capital (or share capital) 426,745,404.00 426,745,404.00
Capital reserves 378,477,752.61 387,545,252.61
Less: Treasury stock
Specific reserves
Surplus reserves 109,487,064.39 109,487,064.39
Provisions for general risks
Retained profits -843,561,217.03 -807,063,505.41
Foreign exchange difference
Total equity attributable to owners of
71,149,003.97 116,714,215.59
the Company
Minority interests 20,516,097.99 11,253,753.74
Total owners’ (or shareholders’)
91,665,101.96 127,967,969.33
equity
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Report for the First Quarter of 2014 of HaiNan Pearl River Holdings Co., Ltd.
Total liabilities and owners’ (or
1,423,482,954.56 1,237,713,804.04
shareholders’) equity
Legal representative: Zheng Qing Chief of the accounting work: Yang Daoliang
Chief of the accounting organ: Yang Daoliang
2. Balance sheet of the Company
Prepared by HaiNan Pearl River Holdings Co., Ltd.
Unit: RMB Yuan
Item Closing balance Opening balance
Current Assets:
Monetary funds 318,725.12 1,650,620.37
Transactional financial assets
Notes receivable
Accounts receivable 2,752,470.60 2,437,957.05
Accounts paid in advance 50,000,000.00 50,000,000.00
Interest receivable
Dividend receivable 260,015.00 260,015.00
Other accounts receivable 621,006,440.70 599,990,581.53
Inventories 4,824,035.45 4,824,035.45
Non-current assets due within 1
year
Other current assets
Total current assets 679,161,686.87 659,163,209.40
Non-current assets:
Available-for-sale financial assets 64,867,500.00 76,957,500.00
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investment 298,765,150.25 298,915,199.18
Investing property 7,215,368.18 7,290,977.33
Fixed assets 15,702,471.34 16,056,715.04
Construction in progress
Engineering materials
Disposal of fixed assets
Production biological assets
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Report for the First Quarter of 2014 of HaiNan Pearl River Holdings Co., Ltd.
Oil-gas assets
Intangible assets 1,493,461.05 1,505,376.96
R&D expense
Goodwill
Long-term deferred expenses 6,392,868.63 9,127,521.96
Deferred income tax assets
Other non-current assets
Total of non-current assets 394,436,819.45 409,853,290.47
Total assets 1,073,598,506.32 1,069,016,499.87
Current liabilities:
Short-term borrowings
Transactional financial liabilities
Notes payable
Accounts payable 2,482,949.70 2,482,949.70
Accounts received in advance 265,963.50 61,875.00
Employee’s compensation payable 460,078.88 781,412.78
Tax payable 7,141,893.52 6,966,593.30
Interest payable 70,808,925.57 61,988,940.20
Dividend payable 3,213,302.88 3,213,302.88
Other accounts payable 430,751,101.83 403,455,124.29
Non-current liabilities due within 1
197,000,000.00 197,000,000.00
year
Other current liabilities
Total current liabilities 712,124,215.88 675,950,198.15
Non-current liabilities:
Long-term borrowings
Bonds payable
Long-term payables
Specific payables
Estimated liabilities
Deferred income tax liabilities 10,753,125.00 13,775,625.00
Other non-current liabilities
Total non-current liabilities 10,753,125.00 13,775,625.00
Total liabilities 722,877,340.88 689,725,823.15
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Report for the First Quarter of 2014 of HaiNan Pearl River Holdings Co., Ltd.
Owners’ equity (or shareholders’
equity)
Paid-up capital (or share capital) 426,745,404.00 426,745,404.00
Capital reserves 381,494,092.15 390,561,592.15
Less: Treasury stock
Specific reserves
Surplus reserves 109,487,064.39 109,487,064.39
Provisions for general risks
Retained profits -567,005,395.10 -547,503,383.82
Foreign exchange difference
Total owners’ (or shareholders’)
350,721,165.44 379,290,676.72
equity
Total liabilities and owners’ (or
1,073,598,506.32 1,069,016,499.87
shareholders’) equity
Legal representative: Zheng Qing Chief of the accounting work: Yang Daoliang
Chief of the accounting organ: Yang Daoliang
3. Consolidated income statement
Prepared by HaiNan Pearl River Holdings Co., Ltd.
Unit: RMB Yuan
Item Jan.-Mar. 2014 Jan.-Mar. 2013
I. Operating revenues 75,218,398.46 62,592,524.54
Including: Sales income 75,218,398.46 62,592,524.54
Interest income
Premium income
Handling charge and
commission income
II. Total operating cost 111,890,551.33 88,673,918.91
Including: Cost of sales 51,153,821.56 43,104,049.53
Interest expenses
Handling charge and
commission expenses
Surrenders
Net claims paid
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Report for the First Quarter of 2014 of HaiNan Pearl River Holdings Co., Ltd.
Net amount withdrawn for the
insurance contract reserve
Expenditure on policy
dividends
Reinsurance premium
Taxes and associate charges 4,078,574.55 3,752,740.27
Selling and distribution
1,579,375.39 3,435,537.06
expenses
Administrative expenses 29,092,058.28 24,604,836.32
Financial expenses 25,549,141.58 15,205,396.83
Asset impairment loss 437,579.97 -1,428,641.10
Add: Gain/(loss) from change in fair
value (“-” means loss)
Gain/(loss) from investment (“-”
-215,469.56 -237,733.66
means loss)
Including: share of profits in
-238,856.51 -237,733.66
associates and joint ventures
Foreign exchange gains (“-” means
loss)
III. Business profit (“-” means loss) -36,887,622.43 -26,319,128.03
Add: non-operating income 28,749.69 34,128.02
Less: non-operating expense 376,494.63 28,516.30
Including: loss from
421.50 667.10
non-current asset disposal
IV. Total profit (“-” means loss) -37,235,367.37 -26,313,516.31
Less: Income tax expense 0.00
V. Net profit (“-” means loss) -37,235,367.37 -26,313,516.31
Including: Net profit achieved
by combined parties before the
combinations
Attributable to owners of the
-35,538,513.44 -25,395,899.69
Company
Minority shareholders’ income -1,696,853.93 -917,616.62
VI. Earnings per share -- --
(I) Basic earnings per share -0.08 -0.06
(II) Diluted earnings per share -0.08 -0.06
Ⅶ. Other comprehensive incomes -9,067,500.00 -7,123,830.22
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Report for the First Quarter of 2014 of HaiNan Pearl River Holdings Co., Ltd.
Ⅷ. Total comprehensive incomes -46,302,867.37 -33,437,346.53
Attributable to owners of the
-44,606,013.44 -32,519,729.91
Company
Attributable to minority
-1,696,853.93 -917,616.62
shareholders
Legal representative: Zheng Qing Chief of the accounting work: Yang Daoliang
Chief of the accounting organ: Yang Daoliang
4. Income statement of the Company
Prepared by HaiNan Pearl River Holdings Co., Ltd.
Unit: RMB Yuan
Item Jan.-Mar. 2014 Jan.-Mar. 2013
I. Operating revenues 252,422.13 290,872.20
Less: operating costs 88,898.40 88,898.40
Business taxes and surcharges 10,775.65 16,288.84
Distribution expenses
Administrative expenses 4,577,873.56 4,995,993.19
Financial costs 14,933,444.67 9,508,699.18
Impairment loss -6,607.80 -1,317,614.44
Add: gain/(loss) from change in
fair value (“-” means loss)
Gain/(loss) from investment (“-”
-150,048.93 -237,733.66
means loss)
Including: income form
investment on associates and joint -150,048.93 -237,733.66
ventures
II. Business profit (“-” means loss) -19,502,011.28 -13,239,126.63
Add: non-business income
Less: non-business expense
Including: loss from non-current
asset disposal
III. Total profit (“-” means loss) -19,502,011.28 -13,239,126.63
Less: income tax expense
IV. Net profit (“-” means loss) -19,502,011.28 -13,239,126.63
V. Earnings per share -- --
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Report for the First Quarter of 2014 of HaiNan Pearl River Holdings Co., Ltd.
(I) Basic earnings per share 0 0
(II) Diluted earnings per share 0 0
VI. Other comprehensive income -9,067,500.00 -7,123,830.22
VII. Total comprehensive income -28,569,511.28 -20,362,956.85
Legal representative: Zheng Qing Chief of the accounting work: Yang Daoliang
Chief of the accounting organ: Yang Daoliang
5. Consolidated cash flow statement
Prepared by HaiNan Pearl River Holdings Co., Ltd.
Unit: RMB Yuan
Item Jan.-Mar. 2014 Jan.-Mar. 2013
I. Cash flows from operating
activities:
Cash received from sale of
72,575,085.92 57,631,845.31
commodities and rendering of service
Net increase of deposits from
customers and dues from banks
Net increase of loans from the
central bank
Net increase of funds borrowed
from other financial institutions
Cash received from premium of
original insurance contracts
Net cash received from reinsurance
business
Net increase of deposits of policy
holders and investment fund
Net increase of disposal of tradable
financial assets
Cash received from interest,
handling charges and commissions
Net increase of intra-group
borrowings
Net increase of funds in repurchase
business
Tax refunds received
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Report for the First Quarter of 2014 of HaiNan Pearl River Holdings Co., Ltd.
Other cash received relating to
44,801,654.00 19,337,375.12
operating activities
Subtotal of cash inflows from
117,376,739.92 76,969,220.43
operating activities
Cash paid for goods and services 146,784,870.19 21,906,135.82
Net increase of customer lendings
and advances
Net increase of funds deposited in
the central bank and amount due from
banks
Cash for paying claims of the
original insurance contracts
Cash for paying interest, handling
charges and commissions
Cash for paying policy dividends
Cash paid to and for employees 43,109,204.98 34,793,165.45
Various taxes paid 5,675,757.16 7,266,596.46
Other cash payment relating to
17,802,244.30 45,281,029.78
operating activities
Subtotal of cash outflows from
213,372,076.63 109,246,927.51
operating activities
Net cash flows from operating
-95,995,336.71 -32,277,707.08
activities
II. Cash flows from investing
activities:
Cash received from withdrawal of
6,543,871.23 26,000,000.00
investments
Cash received from return on
9,515.72
investments
Net cash received from disposal of
fixed assets, intangible assets and 1,341,447.50 189,000.00
other long-term assets
Net cash received from disposal of
subsidiaries or other business units
Other cash received relating to
5,647,661.11
investing activities
Subtotal of cash inflows from
7,894,834.45 31,836,661.11
investing activities
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Report for the First Quarter of 2014 of HaiNan Pearl River Holdings Co., Ltd.
Cash paid to acquire fixed assets,
intangible assets and other long-term 2,531,364.00 10,784,038.66
assets
Cash paid for investment 11,000,000.00
Net increase of pledged loans
Net cash paid to acquire
subsidiaries and other business units
Other cash payments relating to
13,000,000.00
investing activities
Subtotal of cash outflows from
26,531,364.00 10,784,038.66
investing activities
Net cash flows from investing
-18,636,529.55 21,052,622.45
activities
III. Cash flows from financing
Activities:
Cash received from capital
10,000,000.00
contributions
Including: Cash received from
minority shareholder investments by 10,000,000.00 0.00
subsidiaries
Cash received from borrowings 176,200,000.00 31,000,000.00
Cash received from issuance of
bonds
Other cash received relating to
financing activities
Subtotal of cash inflows from
186,200,000.00 31,000,000.00
financing activities
Repayment of borrowings 13,000,000.00 13,000,000.00
Cash paid for interest expenses
4,994,798.00 9,618,865.55
and distribution of dividends or profit
Including: dividends or profit
paid by subsidiaries to minority
shareholders
Other cash payments relating to
4,913,000.00 2,909,475.62
financing activities
Sub-total of cash outflows from
22,907,798.00 25,528,341.17
financing activities
Net cash flows from financing 163,292,202.00 5,471,658.83
20
Report for the First Quarter of 2014 of HaiNan Pearl River Holdings Co., Ltd.
activities
IV. Effect of foreign exchange rate
changes on cash and cash equivalents
V. Net increase in cash and cash
48,660,335.74 -5,753,425.80
equivalents
Add: Opening balance of cash
62,362,242.69 65,762,871.33
and cash equivalents
VI. Closing balance of cash and cash
111,022,578.43 60,009,445.53
equivalents
Legal representative: Zheng Qing Chief of the accounting work: Yang Daoliang
Chief of the accounting organ: Yang Daoliang
6. Cash flow statement of the Company
Prepared by HaiNan Pearl River Holdings Co., Ltd.
Unit: RMB Yuan
Item Jan.-Mar. 2014 Jan.-Mar. 2013
I. Cash flows from operating
activities:
Cash received from sale of
468,918.25 401,165.00
commodities and rendering of service
Tax refunds received
Other cash received relating to
24,455,231.90 11,695,394.78
operating activities
Subtotal of cash inflows from
24,924,150.15 12,096,559.78
operating activities
Cash paid for goods and services
Cash paid to and for employees 1,620,691.54 1,612,063.85
Various taxes paid 85,826.85 112,414.29
Other cash payment relating to
6,380,527.01 13,629,756.72
operating activities
Subtotal of cash outflows from
8,087,045.40 15,354,234.86
operating activities
Net cash flows from operating
16,837,104.75 -3,257,675.08
activities
II. Cash flows from investing
activities:
21
Report for the First Quarter of 2014 of HaiNan Pearl River Holdings Co., Ltd.
Cash received from retraction of
6,030,000.00 26,000,000.00
investments
Cash received from return on
investments
Net cash received from disposal of
fixed assets, intangible assets and
other long-term assets
Net cash received from disposal of
subsidiaries or other business units
Other cash received relating to
5,647,661.11
investing activities
Subtotal of cash inflows from
6,030,000.00 31,647,661.11
investing activities
Cash paid to acquire fixed assets,
intangible assets and other long-term 0.00
assets
Cash paid for investment 25,200,000.00 38,999,500.00
Net cash paid to acquire
subsidiaries and other business units
Other cash payments relating to
investing activities
Subtotal of cash outflows from
25,200,000.00 38,999,500.00
investing activities
Net cash flows from investing
-19,170,000.00 -7,351,838.89
activities
III. Cash flows from financing
activities:
Cash received from capital
contributions
Cash received from borrowings 10,900,000.00 31,000,000.00
Cash received from issuance of
bonds
Other cash received relating to
financing activities
Subtotal of cash inflows from
10,900,000.00 31,000,000.00
financing activities
Repayment of borrowings 6,000,000.00 13,000,000.00
Cash paid for interest expenses 1,986,000.00 6,133,100.00
22
Report for the First Quarter of 2014 of HaiNan Pearl River Holdings Co., Ltd.
and distribution of dividends or profit
Other cash payments relating to
1,913,000.00 2,309,475.62
financing activities
Sub-total of cash outflows from
9,899,000.00 21,442,575.62
financing activities
Net cash flows from financing
1,001,000.00 9,557,424.38
activities
IV. Effect of foreign exchange rate
changes on cash and cash equivalents
V. Net increase in cash and cash
-1,331,895.25 -1,052,089.59
equivalents
Add: Opening balance of cash
1,650,620.37 2,641,297.45
and cash equivalents
VI. Closing balance of cash and cash
318,725.12 1,589,207.86
equivalents
Legal representative: Zheng Qing Chief of the accounting work: Yang Daoliang
Chief of the accounting organ: Yang Daoliang
II. Audit report
This report is not audited.
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