Hainan Jingliang Holdings Co., Ltd. First Quarterly Report 2021 (Summary)
Stock Code: 000505, 200505 Stock Name: JLKG, JL-B Announcement No. 2021-025
HAINAN JINGLIANG HOLDINGS CO., LTD.
FIRST QUARTERLY REPORT 2021 (SUMMARY)
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Hainan Jingliang Holdings Co., Ltd. First Quarterly Report 2021 (Summary)
Part I Important Notes
The Board of Directors (or the “Board”), the Supervisory Committee as well as the directors,
supervisors and senior management of Hainan Jingliang Holdings Co., Ltd. (hereinafter
referred to as the “Company”) hereby guarantee the factuality, accuracy and completeness of
the contents of this Report and its summary, and shall be jointly and severally liable for any
misrepresentations, misleading statements or material omissions therein.
All the Company’s directors have attended the Board meeting for the review of this Report
and its summary.
Li Shaoling, the Company’s legal representative, Guan Ying, the Company’s head for
financial affairs, and Liu Quanli, head of the Company’s financial department (equivalent to
financial manager) hereby guarantee that the Financial Statements carried in this Report are
factual, accurate and complete.
This Report and its summary have been prepared in both Chinese and English. Should there
be any discrepancies or misunderstandings between the two versions, the Chinese versions
shall prevail.
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Hainan Jingliang Holdings Co., Ltd. First Quarterly Report 2021 (Summary)
Part II Key Corporate Information
I Key Financial Information
Indicate by tick mark whether there is any retrospectively restated datum in the table below.
□ Yes √ No
Q1 2021 Q1 2020 Change (%)
Operating revenue (RMB) 2,338,783,061.35 1,719,261,111.71 36.03%
Net profit attributable to the listed
36,585,077.36 27,655,045.32 32.29%
company’s shareholders (RMB)
Net profit attributable to the listed
company’s shareholders before exceptional 32,694,567.66 23,730,342.72 37.78%
items (RMB)
Net cash generated from/used in operating
274,757,224.16 328,948,834.32 -16.47%
activities (RMB)
Basic earnings per share (RMB/share) 0.05 0.04 25.00%
Diluted earnings per share (RMB/share) 0.05 0.04 25.00%
Weighted average return on equity (%) 1.34% 1.14% 0.20%
31 March 2021 31 December 2020 Change (%)
Total assets (RMB) 5,684,487,935.29 5,695,504,493.73 -0.19%
Equity attributable to the listed company’s
2,747,216,903.27 2,710,571,543.53 1.35%
shareholders (RMB)
Exceptional gains and losses:
√ Applicable □ Not applicable
Unit: RMB
Item Q1 2021 Note
Gain or loss on disposal of non-current assets (inclusive of
123,210.12
impairment allowance write-offs)
Government grants through profit or loss (exclusive of government
grants given in the Company’s ordinary course of business at fixed 406,977.39
quotas or amounts as per the government’s uniform standards)
Gain or loss on fair-value changes on held-for-trading and derivative
financial assets and liabilities & income from disposal of
4,619,547.66
held-for-trading and derivative financial assets and liabilities and
other debt investments (exclusive of the effective portion of hedges
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Hainan Jingliang Holdings Co., Ltd. First Quarterly Report 2021 (Summary)
that arise in the Company’s ordinary course of business)
Non-operating income and expense other than the above 97,845.34
Project confirmed with the definition of non-recurring gains and
28,548.78
losses
Less: Income tax effects 1,319,032.32
Non-controlling interests effects (net of tax) 66,587.27
Total 3,890,509.70 --
Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item defined or listed in the
Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the
Public—Exceptional Gain/Loss Items:
□ Applicable √ Not applicable
No such cases for the Reporting Period.
II Total Number of Shareholders and Holdings of Top 10 Shareholders at 31 March 2021
1. Numbers of Ordinary Shareholders and Preferred Shareholders with Resumed Voting Rights as well as
Holdings of Top 10 Shareholders
Unit: share
Number of preferred
shareholders with resumed
Number of ordinary shareholders at the period-end 68,418 0
voting rights at the period-end
(if any)
Top 10 shareholders
Nature of Shareholdin Total shares Restricted Shares in pledge or frozen
Name of shareholder
shareholder g percentage held shares held Status Shares
BEIJING GRAIN GROUP CO., State-owned
39.68% 288,439,561 164,877,598
LTD. legal person
BEIJING STATE-OWNED
State-owned
CAPITAL OPERATION AND 6.67% 48,510,460 0
legal person
MANAGEMENT CENTER
Domestic
WANG YUECHENG 5.66% 41,159,887 41,159,887
natural person
Foreign
LI SHERYN ZHAN MING 1.23% 8,930,000 0
natural person
GOLD BUFFALO RUNYING
(TIANJIN) EQUITY
INVESTMENT FUND Other 0.40% 2,889,803 0
MANAGEMENT CO.,
LTD.—GOLD BUFFALO
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Hainan Jingliang Holdings Co., Ltd. First Quarterly Report 2021 (Summary)
RUNYING (TIANJIN) EQUITY
INVESTMENT FUND (L.P.)
Domestic
MEI JIANYING 0.36% 2,604,203 0
natural person
Domestic
ZHANG XIAOXIA 0.27% 1,949,250 0
natural person
Domestic
WANG XIAOXING 0.23% 1,691,200 0
natural person
Domestic
TAN WENQIONG 0.20% 1,474,700 0
natural person
ORIENT SECURITIES （ HONG Foreign
0.18% 1,330,400 0
KONG） LIMITED corporation
Top 10 unrestricted shareholders
Shares by type
Name of shareholder Unrestricted shares held
Type Shares
RMB-denominate
BEIJING GRAIN GROUP CO., LTD. 123,561,963 123,561,963
d ordinary stock
BEIJING STATE-OWNED CAPITAL RMB-denominate
48,510,460 48,510,460
OPERATION AND MANAGEMENT CENTER d ordinary stock
Domestically
LI SHERYN ZHAN MING 8,930,000 listed foreign 8,930,000
stock
GOLD BUFFALO RUNYING (TIANJIN)
EQUITY INVESTMENT FUND MANAGEMENT RMB-denominate
2,889,803 2,889,803
CO., LTD.—GOLD BUFFALO RUNYING d ordinary stock
(TIANJIN) EQUITY INVESTMENT FUND (L.P.)
RMB-denominate
MEI JIANYING 2,604,203 2,604,203
d ordinary stock
Domestically
ZHANG XIAOXIA 1,949,250 listed foreign 1,949,250
stock
RMB-denominate
WANG XIAOXING 1,691,200 1,691,200
d ordinary stock
RMB-denominate
TAN WENQIONG 1,474,700 1,474,700
d ordinary stock
Domestically
ORIENT SECURITIES （ HONG KONG ）
1,330,400 listed foreign 1,330,400
LIMITED
stock
RMB-denominate
YANG SHULING 1,122,900 1,122,900
d ordinary stock
Related or acting-in-concert parties among the ① Beijing State-Owned Capital Operation and Management Center owns
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Hainan Jingliang Holdings Co., Ltd. First Quarterly Report 2021 (Summary)
shareholders above 100% of Beijing Grain Group Co., Ltd., and Beijing Grain Group Co., Ltd. is
the controlling shareholder of the Company (a 39.68% holding). ② Wang
Yuecheng is a Deputy General Manager of the Company. Apart from the
aforesaid, the Company does not know whether there are any other related
parties or acting-in-concert parties among the top 10 shareholders.
Shareholder Wang Xiaoxing held 1,691,200 shares in the Company through
Top 10 shareholders engaged in securities margin
his account of collateral securities for margin trading in Soochow Securities
trading (if any)
Co., Ltd.
Indicate by tick mark whether any of the top 10 ordinary shareholders or the top 10 unrestricted ordinary
shareholders of the Company conducted any promissory repo during the Reporting Period.
□ Yes √ No
No such cases in the Reporting Period.
2. Number of Preferred Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
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Hainan Jingliang Holdings Co., Ltd. First Quarterly Report 2021 (Summary)
Part III Significant Events
I Changes in Key Financial Statement Line Items and Explanation of why
√ Applicable □ Not applicable
1. Monetary assets increased primarily driven by an increase in sales revenue received in the oils business in the
current period.
2. Held-for-trading financial assets increased primarily driven by the purchase of wealth management products
with part of the amount arising from the redemption of investments in cash management products upon maturity
in the current period.
3. Derivative financial liabilities decreased primarily driven by changes in the fair value of hedge instruments in
the Current Period.
4. Total revenues increased primarily driven by rising product prices and unit sales in the Current Period.
5. R&D expense increased primarily driven the cost rising by more new product development projects in the
Current Period.
6. Finance costs decreased primarily driven by decreases in exchange losses and interest expense in the Current
Period.
7. Other income increased primarily driven by an increase in VAT rebates in the Current Period.
8. Gain on fair value changes increased primarily driven by changes in the value of futures contracts in the current
period.
9. Net cash generated from investing activities decreased primarily driven by an increase in investments in wealth
management products.
10. Net cash generated from financing activities decreased primarily driven by a decrease in new borrowings in
the current period.
II Progress, Influence and Solutions with regard to Significant Events
√ Applicable □ Not applicable
Summary of the significant event Disclosure date Index to the related announcement
The Company signed the Joint Venture and Cooperation Announcement No. 2021-004 of Hainan
5 January 2021
Agreement on Yueyang Oil Processing Project and the Articles of Jingliang Holdings Co., Ltd. on Progress
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Hainan Jingliang Holdings Co., Ltd. First Quarterly Report 2021 (Summary)
Association of Jingliang (Yueyang) Grains & Oils Industries Co., of Yueyang Oil Base Project disclosed on
Ltd. with Sinograin Oils Co., Ltd. on 31 December 2020. This www.cninfo.com.cn.
external investment has been approved by Beijing Capital
Agribusiness & Foods Group Co., Ltd. During the Reporting
Period, Sinograin Oils Co., Ltd., upon internal decisions, obtained
the approval of China Grain Reserves Group Ltd. Company.
Subsequently, both parties will actively go through the paper
work for the establishment of the joint venture.
On 6 April 2021, the Company signed the Cooperation
Framework Agreement with SDIC Traffic Holding Co., Ltd. and Announcement No. 2021-020 of Hainan
China Grain Reserves Group Ltd. Guangzhou Branch in Beijing, Jingliang Holdings Co., Ltd. on Signing
8 April 2021
reaching an agreement on cooperation in grain storage, logistics the Cooperation Framework Agreement
and processing at SDIC Yangpu Port, Yangpu Economic disclosed on www.cninfo.com.cn.
Development Zone, Hainan Province.
Progress of any share repurchases:
□ Applicable √ Not applicable
Progress of any reduction of the repurchased shares through centralized bidding:
□ Applicable √ Not applicable
III Commitments that the Company’s Actual Controller, Shareholders, Related Parties,
Acquirers, the Company Itself or Other Parties, Failed to Fulfill on Time during the
Reporting Period
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IV Financial Investments
1. Securities Investments
√ Applicable □ Not applicable
Unit: RMB
Gain/los
Cumulat
Initi s on
Accoun Begin ive
Type al fair-valu Gain/los
Code of ting ning fair-valu Purchased in Sold in the Ending Accou Fundin
of Name of inve e s in the
securitie measur carryi e the current current carrying nting g
securit securities stme changes current
s ement ng changes period period value title source
ies nt in the period
model value through
cost current
equity
period
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Hainan Jingliang Holdings Co., Ltd. First Quarterly Report 2021 (Summary)
Cost 1,980,700,00 1,980,700,00 275,836 Self-ra
Other 204001 GC001 0.00 Other
method 0.00 0.00 .11 ised
1,980,700,00 1,980,700,00 275,836
Total 0.00 -- 0.00 0.00 0.00 0.00 -- --
0.00 0.00 .11
Disclosure date of
announcement on Board’s
27 March 2021
consent for securities
investment
Disclosure date of
announcement on
shareholders’ meeting’s N/A
consent for securities
investment (if any)
2. Investments in Derivative Financial Instruments
√ Applicable □ Not applicable
Unit: RMB’0,000
Ending investment as %
Type of derivative Beginning Ending Actual gain/loss in
Start date End date of the Company’s ending
financial instrument investment investment Reporting Period
net assets
Agricultural product 1 January 31 March
25,014.36 23,798.9 8.66% -20,727.38
future contract 2021 2021
Foreign exchange 1 January 31 March
13,336.81 40,543.15 14.76% -18.51
forwards 2021 2021
Total -- -- 38,351.17 64,342.05 23.42% -20,745.89
The Company's own funds are used in commodity derivatives transactions; in foreign exchange derivatives
Funding source transactions, the Company's comprehensive bank credit line or margin for trading is mainly used. Principal
delivery or differential delivery is adopted at maturity.
Legal matters involved
N/A
(if applicable)
Disclosure date of the
announcement about the
board’s consent for the 27 March 2021
securities investment (if
any)
Disclosure date of the
announcement about the
17 April 2021
general meeting’s
consent for the securities
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Hainan Jingliang Holdings Co., Ltd. First Quarterly Report 2021 (Summary)
investment (if any)
The Company's main purpose of conducting commodity derivatives transactions and foreign exchange
derivatives transactions is to hedge and lock in exchange rates, other than for speculation purposes.
Existing risks include but are not limited to market risk, liquidity risk, price fluctuation risk and internal
Risk analysis and control control risk. In this regard, the Company has adopted the following risk control measures: 1) The
measures in respect of development of derivatives trading business is based on normal production and operation; 2) the Company
derivative investments has formulated the Management Policy of Hainan Jingliang Holdings Co., Ltd. on Commodity Derivatives
held in the Reporting Transactions and the Management Policy of Hainan Jingliang Holdings Co., Ltd. on Financial Derivatives
Period (including but not Transactions to control transaction risks; 3) own funds are reasonably allocated for hedging business. In
limited to market risk, principle, the Company purchases options contracts only. The asset scale of futures and options is strictly
liquidity risk, credit risk, controlled. The margin is planned and used reasonably; 4) the Company is only allowed to conduct foreign
operational risk, legal exchange derivatives trading business with banks and financial institutions that are approved by regulatory
risk, etc.) authorities and eligible for foreign exchange derivatives trading business, other than with other
organizations or individuals, so as to prevent customer default risks. During the Reporting Period, gains
and losses of commodity derivatives transactions offset the gains and losses of hedged items (spot
agricultural products).
Changes in market prices
or fair value of
derivative investments in
the Reporting Period The value of the Company’s future contracts changed according to the contract prices declared by the
(fair value analysis future exchange, which were broadly representative. And the fair value of the Company’s future contracts
should include was executed in strict compliance with the future exchange’s settlement methods.
measurement method
and related assumptions
and parameters)
Significant changes in
accounting policies and
specific accounting
principles adopted for
N/A
derivative investments in
the Reporting Period
compared to the last
reporting period
Opinion of independent directors on commodity derivatives transactions: the Company has formulated the
Management Policy of Hainan Jingliang Holdings Co., Ltd. on Commodity Derivatives Transactions,
which can effectively normalize commodity derivatives transaction behaviors and control transaction risks.
Opinion of independent Based on normal production and operation, the Company properly uses derivative financial instruments to
directors on derivative effectively offset operation risks. It is agreed that the Company will conduct commodity derivatives
investments and risk transactions in 2021.
control Opinion of independent directors on foreign exchange derivatives trading business: after check, the
relevant decision-making procedures for the Company and its majority-owned subsidiaries to conduct
foreign exchange derivatives trading business are in compliance with relevant national laws, regulations
and the governing provisions of the Articles of Association after verification. Based on normal production
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Hainan Jingliang Holdings Co., Ltd. First Quarterly Report 2021 (Summary)
and operation, the Company uses foreign exchange derivatives instruments to reduce exchange rate risks
and help to enhance financial soundness. There is no harm to the interests of the Company and all other
shareholders, especially minority shareholders. The Company has established the Management Policy of
Hainan Jingliang Holdings Co., Ltd. on Financial Derivatives Transactions, which helps to enhance the
trading risks control. It is agreed that the Company and its majority-owned subsidiaries will conduct
foreign exchange derivative trading business within the consideration amount.
V Progress of Projects Financed with Raised Funds
□ Applicable √ Not applicable
VI Operating Performance Forecast for January-June 2021
Warning of a forecast loss on or a forecast significant year-on-year change in the accumulative net profit from the
beginning of the year to the end of the next reporting period, as well as explanation of why:
□ Applicable √ Not applicable
VII Significant Contracts Arising from the Company’s Ordinary Course of Business
□ Applicable √ Not applicable
VIII Cash Entrusted for Wealth Management
√ Applicable □ Not applicable
Unit: RMB’0,000
Type Funding source Amount Undue amount Unrecovered overdue amount
Bank’s wealth management product Self-funded 2,300 1,000 0
Broker’s wealth management product Idle raised funds 28,000 0 0
Total 30,300 1,000 0
High-risk wealth management transactions with a significant single amount, or with low security, low liquidity or
no principal protection:
□ Applicable √ Not applicable
Wealth management transactions with possible impairments including an expectedly unrecoverable principal:
□ Applicable √ Not applicable
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Hainan Jingliang Holdings Co., Ltd. First Quarterly Report 2021 (Summary)
IX Irregularities in the Provision of Guarantees
□ Applicable √ Not applicable
No such cases in the Reporting Period.
X Occupation of the Company’s Capital by the Controlling Shareholder or any of Its Related
Parties for Non-Operating Purposes
□ Applicable √ Not applicable
No such cases in the Reporting Period.
XI Communications with the Investment Community such as Researches, Inquiries and
Interviews Received during the Reporting Period
□ Applicable √ Not applicable
No such cases in the Reporting Period.
Hainan Jingliang Holdings Co., Ltd.
28 April 2021
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