Hefei Meiling Co., Ltd. The First Quarterly Report 2013 (Full Text)
Hefei Meiling Co., Ltd.
The First Quarterly Report of 2013
April 2013
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Hefei Meiling Co., Ltd. The First Quarterly Report 2013 (Full Text)
Section I. Important Notes
Board of Directors and the Supervisory Committee of Hefei Meiling Co., Ltd. (hereinafter referred to as the
Company) and its directors, supervisors and senior executives should guarantee the reality, accuracy and
completion of the quarterly report, there are no any fictitious statements, misleading statements or important
omissions carried in this report, and shall take legal responsibilities, individual and/or joint.
Mr. Liu Tibin, person in charge of the Company, President Mr. Li Wei, Mr. Yu Wanchun, person in charger of
accounting works and Mr. Tang Bin, person in charger of accounting organ (accounting officer) hereby confirm
that the Financial Report of this Quarterly Report is authentic, accurate and complete.
The First Quarterly Report of 2013 has not been audited.
All Directors are attended the Board Meeting for Quarterly Report deliberation.
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Hefei Meiling Co., Ltd. The First Quarterly Report 2013 (Full Text)
Section II. Main financial data and changes of shareholders
I. Main financial data
Whether has retroactive adjustment or re-statement on financial data of previous’ period in this report or not
□Yes √ No
Changes of this period over
Jan. – March 2013 Jan. – March 2012
same period of last year (%)
Operating income (RMB) 2,385,518,958.63 2,295,111,500.70 3.94%
Net profit attributable to shareholders of
40,877,845.25 34,607,026.34 18.12%
the listed company(RMB)
Net profit attributable to shareholders of
the listed company after deducting 38,141,375.39 32,956,603.96 15.73%
non-recurring gains and losses(RMB)
Net cash flow arising from operating
-89,944,369.56 -131,391,287.31 31.54%
activities(RMB)
Basic earnings per share (RMB/Share) 0.0535 0.0544 -1.65%
Diluted earnings per share (RMB/Share) 0.0535 0.0544 -1.65%
Weighted average ROE (%) 1.37% 1.23% 0.14%
Changes of this period-end
2013-3-31 2012-12-31 over same period-end of last
year (%)
Total assets (RMB) 8,362,773,656.09 7,886,140,432.47 6.04%
Net assets attributable to shareholder of
2,996,582,326.59 2,955,787,652.31 1.38%
listed company (RMB)
Note: The reporting period, basic earnings per share and diluted earnings per share compared to the same period last year decrease
was primarily due to the report of such a measure, the denominator is 763,739,205 shares, a year-on-year calculation of the
denominator of 636,449,338 shares. August 2012 due to the capitalization of capital reserve to increase the company's total share
capital, but does not affect the amount of shareholders' equity, increased the total share capital of the Company increased from
636,449,338 shares to 763,739,205 shares. Calculated according to the latest adjustment to share capital from January to March 2012,
basic earnings per share and diluted earnings per share were 0.0453 RMB, the figure of the reporting period, an increase of 18.10%
over the same period last year.
Whether shares capital changes and owners equity been affected due to new shares issued, additional offering,
allotment of shares, equity incentive exercise and buy-back from this period-end to date of report disclosed or not
□Yes √ No
Items of non-recurring gains and losses
√ Applicable □ Not applicable
Unit: RMB
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Hefei Meiling Co., Ltd. The First Quarterly Report 2013 (Full Text)
Amount from year-begin to
Item Note
period-end
Gains/losses from the disposal of non-current asset (including the
-206,393.36 --
write-off that accrued for impairment of assets)
Governmental subsidy reckoned into current gains/losses (not
including the subsidy enjoyed in quota or ration according to
2,813,020.29 --
national standards, which are closely relevant to enterprise’s
business)
Other non-operating income and expenditure except for the
455,935.72 --
aforementioned items
Impact on income tax 316,567.41 --
Impact on minority shareholders’ equity (post-tax) 9,525.38 --
Total 2,736,469.86 --
II. Total number of shareholders at the end of this report period and top ten shareholders
Unit: Share
Total number of shareholders
62,335
at the end of report period
Top ten shareholders
Number of share
Amount of
Proportion Amount of pledged/frozen
Shareholder’s name Nature of shareholder of shares restricted
held (%) shares held State of
shares held Amount
share
164,828,33
Sichuan Changhong electric Co., LTD State-owned legal person 21.58% 56,031,120 - -
0
Hefei Xingtai Holding Group Co., Ltd. State-owned legal person 6.26% 47,823,401 - - -
Zhengde life insurance Co., LTD-universal Funds, financial products,
3.77% 28,800,000 - - -
insurance products etc.
Changhong Electric (Hong Kong) Trading Co., Ltd. Foreign legal person 3.30% 25,165,823 - - -
GUOTAI JUNAN SECURITIES(HONGKONG)
Foreign legal person 2.16% 16,486,683 - - -
LIMITED
Domestic general legal
Ningbo Wei Chuang Joint Investment Co., Ltd. 1.70% 12,960,000 - - -
person
CAO SHENGCHUN Foreign natural person 1.68% 12,820,100 - - -
CCB-Baokang Consumption Securities Investment Funds, financial products,
0.86% 6,539,575 - - -
Funds etc.
ABC-Guotai Jinniu Innovation Growth Stock Funds, financial products,
0.79% 5,999,751 - - -
Securities Investment Funds etc.
BOC-Huatai Borui Shengshi China Stock Open-end Funds, financial products,
0.70% 5,312,058 - - -
Securities Investment Funds etc.
Top ten shareholders with unrestricted shares held
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Hefei Meiling Co., Ltd. The First Quarterly Report 2013 (Full Text)
Amount of unrestricted Type of shares
Shareholder’s name
shares held Type Amount
Sichuan Changhong electric Co., LTD 108,797,210 RMB ordinary shares 108,797,210
Hefei Xingtai Holding Group Co., Ltd. 47,823,401 RMB ordinary shares 47,823,401
Zhengde life insurance Co., LTD-universal insurance products 28,800,000 RMB ordinary shares 28,800,000
Domestically listed
Changhong Electric (Hong Kong) Trading Co., Ltd. 25,165,823 25,165,823
foreign shares
Domestically listed
GUOTAI JUNAN SECURITIES(HONGKONG) LIMITED 16,486,683 16,486,683
foreign shares
Ningbo Wei Chuang Joint Investment Co., Ltd. 12,960,000 RMB ordinary shares 12,960,000
Domestically listed
CAO SHENGCHUN 12,820,100 12,820,100
foreign shares
CCB-Baokang Consumption Securities Investment Funds 6,539,575 RMB ordinary shares 6,539,575
ABC-Guotai Jinniu Innovation Growth Stock Securities Investment
5,999,751 RMB ordinary shares 5,999,751
Funds
BOC-Huatai Borui Shengshi China Stock Open-end Securities
5,312,058 RMB ordinary shares 5,312,058
Investment Funds
Among the above shareholders, Changhong (Hong Kong) Trade Co.,
Ltd. is the wholly-owned subsidiary of Sichuan Changhong
Electronic Co., Ltd.; there existed no associated relationship or
belong to the concerted actors as specified in the Measures for the
Administration of Information Disclosure of Shareholder Equity
Note of related relationship among the above shareholders and Changes of Listed Companies among Sichuan Changhong Electronic
concerted actors Co., Ltd., Changhong (Hong Kong) and other top 8 shareholders; and
the Company has not known whether there exists any related
relationship among other shareholders or belong to the concerted
actors as specified in the Measures for the Administration of
Information Disclosure of Shareholder Equity Changes of Listed
Companies either.
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Hefei Meiling Co., Ltd. The First Quarterly Report 2013 (Full Text)
Section III. Significant Events
I. Particulars about material changes in items of main accounting statement and financial
index and explanations of reasons
1. Changes and reasons of items in balance sheet
Unit: RMB
Balance at Balance at Changes
Item Reasons of changes
period-end year-begin ratio
Large purchase payment in advance increased to
Account paid in
83,081,258.99 49,414,835.51 68.13% production preparation for the coming of
advance
production busy season.
Staff remuneration and annual bonus of
Wages payable 74,068,448.35 137,325,501.89 -46.06% December, withdrawal for year of 2012, was
distributed in this period.
Minority
Mainly due to the loss from part of the joint
shareholders 16,973,631.22 25,682,269.34 -33.91%
venture marketing subsidiaries in the period.
equity
2 Changes and reasons of items in profit statement
Unit: RMB
Amount at same
Amount at this Changes
Item period of last Reasons of changes
period ratio
year
Provision increased and paid disposal funds for
Business tax and
22,247,024.16 6,779,869.41 228.13% waste electronic products, no amount at the same
surcharge
period of last year.
The exchange income decreased y-o-y in the
Financial expenses -15,243,237.94 -23,224,251.62 34.36%
period.
Assets impairment The bad debt provision of accounts receivable
12,910,074.17 9,435,721.68 36.82%
losses withdrawal increased in this period.
Investment
income(loss is listed -34,904.04 -383,521.48 90.90% The loss amount of joint ventures decreased y-o-y.
with “-“)
Including: Income
from investment for
-34,904.04 -383,521.48 90.90% The loss amount of joint ventures decreased y-o-y.
associated enterprise
and joint venture
Add: non-operation Governmental subsidy income confirmed in the
3,346,446.60 2,376,415.27 40.82%
income report increased y-o-y.
Less: non-operation
283,883.95 590,525.91 -51.93% The disposal of non-current assets decreased.
expenditure
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Hefei Meiling Co., Ltd. The First Quarterly Report 2013 (Full Text)
Including: loss from
disposal of 296,720.17 471,937.41 -37.13% The disposal of non-current assets decreased.
non-current assets
3 Changes and reasons of items in cash flow statement
Unit: RMB
Amount at this Amount at same Changes
Item Reasons of changes
period period of last year ratio
Cash received
The parent company received the allowance of
from other
19,448,404.44 4,733,910.95 310.83% energy-saving and benefiting the people in the
operating
period.
activities
The subsidiary Sichuan Changhong
Taxes paid 119,955,382.18 53,089,813.56 125.95% Air-conditioning Co., Ltd. paid tax and fee of last
year’s delay payment in the period.
Cash received
from other Cash received from bank deposit interest increased
5,208,004.79 3,266,905.75 59.42%
investment y-o-y in the period.
activities
The subsidiary Zhongshan Changhong received
Cash received
52,308,945.90 9,517,752.79 449.59% invoice financing and export bill purchase loan in
from loans gains
the period.
The subsidiary Zhongshan Changhong paid
Cash paid for
61,038,234.85 11,000,000.00 454.89% invoice financing and export bill purchase loan in
settling debts
the period.
II. Analysis and explanation of significant events and their influence and solutions
1. Particular about process of the fund raised and investment of fund raised in the report period
Privately A-stock offering of the Company was implemented in 2010, raised capital totally amounting to
RMB 1,199,999,820, net raised capital of RMB 1,177,954,320 after deducted RMB 22,045,500 issuing expense
(including RMB 20,500,000 underwriting fee and sponsor charge).
Ended as 31st March 2013, funds used for project of fund raised totally amounting to RMB 788,604,075.
Besides, idle raised fund temporary for current capital supplementation was RMB 300 million. (More details
found in Announcement of No. 2012-045, 2012-046, 2012-047 and 2012-050 disclosed in appointed medial dated
24 November 2012 and 12 December) Balance of raised fund of the Company amount as RMB 413,734,686
(including interest RMB 29,384,440 and RMB 300 million, supplemented current capital of the Company
temporary)
Investment of raised fund project RMB 788,604,075 including: RMB 450,132,832 invested in production
base of Athena luxury refrigerator; RMB 190,412,099 invested in capacity expansion of ice box; RMB
110,091,034 invested in capacity expansion of environmentally refrigerator(including saving interest RMB
91,034); RMB 37,968,110 used for current capital supplementation temporary(including saving interest RMB
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Hefei Meiling Co., Ltd. The First Quarterly Report 2013 (Full Text)
13,791).
Ended as 31st March 2013, phase I of production base of Athena luxury refrigerator reached expected
serviceable condition with annual capacity of 1.2 million Athena luxury refrigerator (double-shift); first stage of
phase II has came into production with annual capacity of 0.4 million Athena luxury refrigerator (double-shift);
the project still in process of acceptance and settlement at present; phase I of capacity expansion for ice box has
put into production in January 2011 with favorable running condition, first stage of phase II has completed and put
into official production in March 2012 with annual capacity of 0.4 million ice box (double-shift) and the project
still in process of acceptance and settlement at present; according to the construction schedule for capacity
expansion of ice box, 2nd stage of phase II start in July 2012 and plans to put into production at end of April 201;
project of capacity expansion for environmentally refrigerator has put into production and with a favorable
running condition in report period.
2. Overview of other significant events
Date for Information index for temporary report
Overview
disclosure disclosure
On 5 February 2013, the sixth restricted shares after
implementation of share merger reform have released for trading.
Juchao Website: http://www.cninfo.com.cn
For this release, four person holds the shares in total, and 1,138,205 2013-2-1
(No.: 2013-006)
shares are released, a 0.1490% in total share capital of the
Company.
On 25 January 2013, the Resignation of Mr. Li Daijiang, deputy
president of the Company, was received by the Board, Mr. Li
Juchao Website: http://www.cninfo.com.cn
Daijiang resign deputy president of the Company due to occupation 2013-1-29
(No.: 2013-002 and No.: 2013-003)
mobility. On 28 January 2013, Mr. Liao Tao was appointed as
deputy president of the Company by the Board.
Being deliberation and approved in 22nd meeting of 7th session of
the Board and First extraordinary shareholders general meeting of
2013, approval opinion from Independent Directors and
suffrage-avoiding from related shareholders and related Directors,
through public bidding, agrees to entrusted the after-sale service
Juchao Website: http://www.cninfo.com.cn
business domestically to the third party, a professional household 2013-1-29 and
( No.: 2013-003, No.: 2013-004 and No.:
after-service enterprise—Sichuan Kuaiyidian Electric Appliance 2013-2-23
2013-007)
Service Chain Co., Ltd. (“Kuaiyidian Company”). The aforesaid
event constitutes a daily related transaction for Kuaiyidian
Company is the subordinate controlling subsidiary of Sichuan
Changhong electric Co., LTD, the controlling shareholder of the
Company.
To maintain the independence and completeness of the trade mark
and trade name Meiling, following the principle of centralized
management and unified use of trade mark and trade name, the
Juchao Website: http://www.cninfo.com.cn
Company detailed combed and thoroughly checked the situation 2013-3-22
”Annual Report of 2012”
left over by history in which the use the trademark and trade name
are permitted before the acquisition of Hefei Meiling Holding
Group co., LTD. As at the end of reporting period, the litigation
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Hefei Meiling Co., Ltd. The First Quarterly Report 2013 (Full Text)
and arbitration Meiling brand involved can be found in “Section V.
Important Events” described in Annual Report of 2012
III. Commitments make within the report period or persisted to the period by the Company
or shareholder with over 5 percent shares held
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Hefei Meiling Co., Ltd. The First Quarterly Report 2013 (Full Text)
Item of
Promisee Content of commitments Date Term Implementation
Commitments
1. The acquirer shall not engage in refrigerator business or
Promised in the activity which competes or will compete with business of Valid for long
Strictly implemented
Acquisition Report Meiling Electrical Appliances, or that which has interest term
of Hefei Meiling conflict with Meiling Electrical Appliances.
Co., Ltd: after 2. The acquirer promises to apply shareholders’ right on a legal
Valid for long
completion of equity and reasonable manner and shall not take any action to limit or Strictly implemented
term
Commitments acquisition of affect the normal operation of Meiling Electrical Appliances.
made in Meiling Electrical
Sichuan 3. For any opportunity to engage in competing business, the
acquisition Appliances, the
Changhong acquirer will advise Meiling Electrical Appliances in written 2007-6-12
report or equity acquirer committed
for engaging such business or not. If Meiling Electrical
change report and promised as
Appliances gives no clear written reply as to whether engaging
follows in order to
the competing business or not within 20 days after receipt of Valid for long
prevent Strictly implemented
the aforesaid letter, it shall be deemed that it will not engage in term
horizontal competiti
such business. The acquirer will only engage in non-competing
on:
business provided that Meiling Electrical Appliances confirms
not to or is deemed to not engage in such non-competing
business.
1. It will not engage in such business or activity that competes
Commitment with or has interest conflict with that of Meiling Electrical
regarding to Appliances except for the action taken for sake of Meiling
Commitment
reducing and Electrical Appliances as required by Meiling Electrical
made during Sichuan Valid for long
preventing Appliances. 2010-6-24 Strictly implemented
the non-public Changhong term
competition with 2. The Company promises to apply shareholders’ right on a
offer
Meiling Electrical legal and reasonable manner and shall not take any action to
Appliances limit or affect the normal operation of Meiling Electrical
Appliances.
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Hefei Meiling Co., Ltd. The First Quarterly Report 2013 (Full Text)
3. In case that Meiling Electrical Appliances expects, on the
basis of its existing business, to expand its operation scope into
the business which the Company has already operated, the
Company agrees to grant pre emptive right to Meiling
Electrical Appliances regarding such business if the same
conditions are met, provided that the Company is still the
controlling shareholder or actual controller of Meiling
Electrical Appliances.
1. Measures will be adopted to prevent continued related
transaction with Meiling Electrical Appliances: as to the
related transaction that can not be prevented, it will sign
Commitment related transaction agreement with Meiling Electrical
regarding to Appliances under the market principles of “equally paid and
reducing and mutual benefit”, and fairly determined the transaction price
Valid for long
standardizing related according to the market prevailing standards. 2010-6-24 Strictly implemented
term
transaction with 2. Perform the necessary obligations to make related directors
Meiling Electrical and related shareholder abstain from voting according to
Appliances relevant regulation, and observe legal procedure for approving
related transaction and information disclosure obligations.
3. Promise not to hurt legal interests of Meiling Electrical
Appliances and other shareholders through related transaction.
Commitment on restriction period of the shares subscribed by Meiling Electrical 10 January
Appliances by non-public offering: the shares allocated are locked for 36 months 2010-12-23 2011 to 10 Implementing
automatically from the registration date under relevant regulations. January 2014
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Hefei Meiling Co., Ltd. The First Quarterly Report 2013 (Full Text)
Commit to transfer the land and buildings to Changhong Air Conditioning upon Before
determination of assets property; urge its subsidiary Sichuan Changhong Minsheng completion of
2010-9-7
Logistics Co., Ltd. transfer the land and buildings held by the company to Mianyang implementatio
Meiling upon determination of assets property n
Commit to authorized Changhong Air Conditioning and Zhongshan Air Conditioning Valid for long
2010-11-6 Strictly implemented
to use “Changhong” trademark and relevant patents for free. term
Changhong Before
Minsheng Changhong Minsheng Logistics Co., Ltd. commits to transfer the land and buildings completion of
2010-9-7 Implementing
Logistics to Mianyang Meiling upon determination of the relevant building title certificate. implementatio
Co., Ltd. n
1. Commit to disclose periodic reports on a truthful, accurate, complete, fair and
prompt manner, to disclose all the information that have important influences over
investors, to accept supervision under the CSRC and Shenzhen Stock Exchange.
2. Commit to make public clarification in respect of such information that is released
from any public media and may result in misleading influences on stock price once
the Company is aware of such information.
The Valid for long
3. The directors, supervisors, senior management and core technicians of the 2011-1-7 Strictly implemented
Company term
Company will accept opinions and criticism from the social publics, and they will
not trade the Company’s securities, directly or indirectly, with any inside information
and other illegal methods. The Company promises that the documents submitted to
Shenzhen Stock Exchange exist no false statement or material omission, and no
relevant information will be disclosed during the application for listing without prior
content from Shenzhen Stock Exchange.
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Hefei Meiling Co., Ltd. The First Quarterly Report 2013 (Full Text)
1. The current capital supplemented with certain idle proceeds is only authorized to
use for production operation purposes.
2. The idle proceeds supplementing current capital will be returned to proceeds
Commitment in account upon maturity.
respect of 3. If acceleration of project construction results in early application of proceeds, the
applying certain Company shall return the capital to proceeds account ahead of time, thus not to 11 December
idle proceeds in The affect the normal progress of the investment project that the proceeds are related to, 2012 to 11
2012-11-24 Implementing
supplement Company and not to change the application purpose of proceeds raised. December
current capital 2013
4. the Company commits that during the 12 months after application of the idle
for temporary
proceeds supplementing current capital, it will not make securities investment or risk
purpose
investment amounting over RMB10 million; not apply such proceeds, directly or
indirectly, in placing or subscription of new share, or trading stocks, the underlying
derivatives and convertible bonds; not to change application purpose of proceeds and
hurt shareholders’ interests.
1. Since the property transfer didn’t involve the buildings and land currently used by
Changhong Air Conditioning, Sichuan Changhong commits, upon the completion of Before
equity transfer, to continue to lease such assets to Changhong Air Conditioning at completion of
Implementing
market price, and negotiate with Meiling Electrical Appliances in respect of the implementatio
transfer of the buildings and land according to the operation needs of Changhong Air n
Commitment Conditioning.
made in
Sichuan 2. After completion of this property transfer, Sichuan Changhong commits to manage
transfer of air 2009-12-10
Changhong to prevent new related transaction with Meiling Electrical Appliances. For those
conditioning Valid for long
which can not be prevented, Sichuan Changhong commits to determine the Strictly implemented
assets property term
transaction price based on market accepted methods, so as to ensure fairness of
related transaction and protection of the interest of Meiling Electrical Appliances.
3. Sichuan Changhong commits that it will not engage in air conditioning and
Valid for long
refrigerator business or activity which competes or will compete with business of Strictly implemented
term
Meiling Electrical Appliances, or that which has interest conflict with Meiling
13
Hefei Meiling Co., Ltd. The First Quarterly Report 2013 (Full Text)
Electrical Appliances.
Perform the
commitment √ Yes □ No □ Not applicable
promptly or not
Specific reason
For
non-performa
-
nce and the
next plan
Make
commitment in
respect of the
competition and □Yes √No
related
transaction or
not
Solution period
-
for commitment
Solution
-
method
Performance of
-
commitment
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Hefei Meiling Co., Ltd. The First Quarterly Report 2013 (Full Text)
IV. Forecast of operation performance from Jan. – June of 2013
□Applicable √Not applicable
V. Securities Investment
□Applicable √Not applicable
VI. Derivative Investment
Derivative investment held at period-end
□Applicable √Not applicable
VII. Registration form for receiving research, communication and interview in the report
period
Type of Contents discussed and
Date Place Method Investor
investors materials supplied
Changjiang Securities Co., Ltd.,
Conference Spot Huatai-Pine Bridge Fund Management Business production status
2013-01-14 room of the Institution of the Company, no
company investigation Co., Ltd., Fortune SG Fund material required
Management Co., Ltd.
Conference Spot China International Fund Management Business production status
2013-01-17 room of the Institution of the Company, no
company investigation Co., Ltd. material required
Conference Spot Donghai Securities Co., Ltd., Guotai Business production status
2013-01-23 room of the Institution of the Company, no
company investigation Fund Management Co., Ltd. material required
Conference Spot Business production status
2013-01-30 room of the Institution China Asset Management Co., Ltd. of the Company, no
company investigation material required
Ping An Asset Management Co., Ltd.,
Sinolink Securities Co., Ltd., Caitong
Conference Spot Fund Management Co., Ltd., HFT Business production status
2013-03-25 room of the Institution of the Company, no
company investigation Investment Management Co., Ltd., material required
Lombarda China Fund Management
Co., Ltd.
Everbright Securities Asset
Management Co., Ltd., Guotai Fund
Conference Spot Management Co., Ltd., Nanjing Business production status
2013-03-28 room of the Institution of the Company, no
company investigation Securities Co., Ltd., China Merchants material required
Securities co. Ltd., China Asset
Management Co., Ltd.
Conference Business production status
Spot
2013-03-29 room of the Institution Northeast Securities Co., Ltd. of the Company, no
investigation
company material required
15
Hefei Meiling Co., Ltd. The First Quarterly Report 2013 (Full Text)
Section IV. Financial Statement
I. Financial statement
1. Consolidate balance sheet
Prepared by Hefei Meiling Co., Ltd.
Unit: RMB
Item Balance at period-end Balance at period-begin
Current assets:
Monetary fund 1,571,887,003.98 1,701,307,578.13
Settlement provisions
Capital lent
Transaction finance asset
Notes receivable 1,986,419,185.38 1,738,725,417.01
Account receivable 880,153,387.28 753,762,080.84
Accounts paid in advance 83,081,258.99 49,414,835.51
Insurance receivable
Reinsurance receivables
Contract reserve of reinsurance
receivable
Interest receivable
Dividend receivable
Other receivables 31,973,367.14 31,288,336.44
Purchase restituted finance asset
Inventories 1,726,353,449.15 1,503,307,251.66
Non-current asset due within one
year
Other current assets
Total current assets 6,279,867,651.92 5,777,805,499.59
Non-current assets:
Granted entrust loans and advances
Financial assets available for sale
Hold-to-maturity investment
16
Hefei Meiling Co., Ltd. The First Quarterly Report 2013 (Full Text)
Long-term account receivable
Long-term equity investment 33,823,139.25 35,150,428.02
Investment real estate 16,307,814.30 16,509,959.84
Fixed assets 1,222,106,262.37 1,243,889,950.81
Construction in process 70,836,886.47 70,705,114.33
Engineering material
Disposal of fixed asset
Productive biological assets
Oil and gas asset
Intangible assets 621,857,816.57 628,269,816.49
Expense on Research and
36,070,725.79 31,746,326.41
Development
Goodwill 5,529,842.09 5,529,842.09
Long-term expenses to be apportioned
Deferred income tax asset 76,373,517.33 76,533,494.89
Other non-current asset
Total non-current asset 2,082,906,004.17 2,108,334,932.88
Total assets 8,362,773,656.09 7,886,140,432.47
Current liabilities:
Short-term loans 36,658,004.61 45,456,805.14
Loan from central bank
Absorbing deposit and interbank
deposit
Capital borrowed
Transaction financial liabilities
Notes payable 1,242,764,734.19 1,268,157,043.71
Accounts payable 1,776,654,307.85 1,462,293,958.34
Accounts received in advance 551,127,083.63 459,974,402.43
Selling financial asset of
repurchase
Commission charge and
commission payable
Wage payable 74,068,448.35 137,325,501.89
Taxes payable 117,461,212.08 111,106,673.16
Interest payable
17
Hefei Meiling Co., Ltd. The First Quarterly Report 2013 (Full Text)
Dividend payable 1,550,674.07 1,551,602.30
Other accounts payable 958,446,640.44 826,111,040.95
Reinsurance payables
Insurance contract reserve
Security trading of agency
Security sales of agency
Non-current liabilities due within 1
7,777,304.72 7,777,304.72
year
Other current liabilities
Total current liabilities 4,766,508,409.94 4,319,754,332.64
Non-current liabilities:
Long-term loans 131,114,600.00 131,114,600.00
Bonds payable
Long-term account payable
Special accounts payable
Projected liabilities 360,897,211.83 361,156,281.38
Deferred income tax liabilities
Other non-current liabilities 90,697,476.51 92,645,296.80
Total non-current liabilities 582,709,288.34 584,916,178.18
Total liabilities 5,349,217,698.28 4,904,670,510.82
Owners’ equity(or Shareholders’
equity):
Paid-in capital( or share capital) 763,739,205.00 763,739,205.00
Capital public reserve 1,482,582,391.41 1,482,582,391.41
Less: Inventory shares
Reasonable reserve
Surplus public reserve 325,000,757.16 325,000,757.16
Provision of general risk
Retained profit 426,622,106.30 385,744,261.05
Balance difference of foreign
-1,362,133.28 -1,278,962.31
currency translation
Total owner’s equity attributable to
2,996,582,326.59 2,955,787,652.31
parent Company
Minority interests 16,973,631.22 25,682,269.34
Total owner’s equity( or shareholders 3,013,555,957.81 2,981,469,921.65
18
Hefei Meiling Co., Ltd. The First Quarterly Report 2013 (Full Text)
equity)
Total liabilities and owner’s equity( or
8,362,773,656.09 7,886,140,432.47
shareholders equity)
Legal Representative: Liu Tibin
Person in charge of accounting works: Yu Wanchun
Person in charge of accounting institute: Tang Bin
2. Balance sheet of parent company
Prepared by Hefei Meiling Co., Ltd.
Unit: RMB
Item Balance at period-end Balance at period-begin
Current assets:
Monetary fund 1,238,102,394.62 1,235,992,818.90
Transaction finance asset
Notes receivable 1,556,682,704.19 1,498,979,952.77
Account receivable 1,035,467,592.58 958,731,705.08
Accounts paid in advance 246,970,368.68 295,676,384.52
Interest receivable
Dividend receivable
Other receivables 46,022,746.51 51,135,324.78
Inventory 629,368,530.21 555,767,921.46
Non-current asset due within one
year
Other current assets
Total current assets 4,752,614,336.79 4,596,284,107.51
Non-current assets:
Financial assets available for sale
Hold-to-maturity investment
Long-term account receivable
Long-term equity investment 841,534,933.94 842,013,498.21
Investment real estate 13,109,097.82 13,227,570.00
Fixed assets 873,979,788.17 895,143,842.40
Construction in process 79,303,233.47 78,373,941.23
Engineering material
Disposal of fixed asset
Productive biological assets
19
Hefei Meiling Co., Ltd. The First Quarterly Report 2013 (Full Text)
Oil and gas asset
Intangible assets 478,002,193.17 480,873,122.36
Expense on Research and
Development
Goodwill
Long-term expenses to be apportioned
Deferred income tax asset 68,642,288.88 69,870,668.72
Other non-current asset
Total non-current asset 2,354,571,535.45 2,379,502,642.92
Total assets 7,107,185,872.24 6,975,786,750.43
Current liabilities:
Short-term loans 13,073,840.00
Transaction financial liabilities
Notes payable 941,700,677.10 1,055,969,152.25
Accounts payable 1,398,179,919.80 1,313,834,344.18
Accounts received in advance 200,157,033.44 199,639,453.81
Wage payable 59,154,035.10 101,332,386.23
Taxes payable 82,578,926.77 45,611,775.99
Interest payable
Dividend payable 1,303,652.76 1,303,652.76
Other accounts payable 661,692,498.36 544,916,287.47
Non-current liabilities due within 1
5,793,954.08 5,793,954.08
year
Other current liabilities
Total current liabilities 3,350,560,697.41 3,281,474,846.77
Non-current liabilities:
Long-term loans 131,114,600.00 131,114,600.00
Bonds payable
Long-term account payable
Special accounts payable
Projected liabilities 360,897,211.83 361,156,281.38
Deferred income tax liabilities
Other non-current liabilities 76,427,806.04 77,879,788.72
Total non-current liabilities 568,439,617.87 570,150,670.10
Total liabilities 3,919,000,315.28 3,851,625,516.87
20
Hefei Meiling Co., Ltd. The First Quarterly Report 2013 (Full Text)
Owners’ equity(or Shareholders’
equity):
Paid-in capital( or share capital) 763,739,205.00 763,739,205.00
Capital public reserve 1,497,898,194.51 1,497,898,194.51
Less: Inventory shares
Reasonable reserve
Surplus public reserve 324,782,591.48 324,782,591.48
Provision of general risk
Retained profit 601,765,565.97 537,741,242.57
Balance difference of foreign
currency translation
Total owner’s equity( or shareholders
3,188,185,556.96 3,124,161,233.56
equity)
Total liabilities and owner’s equity( or
7,107,185,872.24 6,975,786,750.43
shareholders equity)
Legal Representative: Liu Tibin
Person in charge of accounting works: Yu Wanchun
Person in charge of accounting institute: Tang Bin
3. Consolidated profit statement
Prepared by Hefei Meiling Co., Ltd.
Unit: RMB
Item Amount in this period Amount in last period
I. Total operating income 2,385,518,958.63 2,295,111,500.70
Including: Operating income 2,385,518,958.63 2,295,111,500.70
Interest income
Insurance gained
Commission charge and
commission income
II. Total operating cost 2,340,189,474.26 2,249,394,271.33
Including: Operating cost 1,823,896,068.82 1,776,374,196.54
Interest expense
Commission charge and
commission expense
Cash surrender value
Net amount of expense of
compensation
21
Hefei Meiling Co., Ltd. The First Quarterly Report 2013 (Full Text)
Net amount of withdrawal of
insurance contract reserve
Bonus expense of guarantee slip
Reinsurance expense
Operating tax and extras 22,247,024.16 6,779,869.41
Sales expenses 407,992,096.94 396,490,340.08
Administration expenses 88,387,448.11 83,538,395.24
Financial expenses -15,243,237.94 -23,224,251.62
Losses of devaluation of asset 12,910,074.17 9,435,721.68
Add: Changing income of fair
value(Loss is listed with “-”)
Investment income (Loss is listed
-34,904.04 -383,521.48
with “-”)
Including: Investment income on
-34,904.04 -383,521.48
affiliated Company and joint venture
Exchange income (Loss is listed
with “-”)
III. Operating profit (Loss is listed
45,294,580.33 45,333,707.89
with “-”)
Add: Non-operating income 3,346,446.60 2,376,415.27
Less: Non-operating expense 283,883.95 590,525.91
Including: Disposal loss of
296,720.17 471,937.41
non-current asset
IV. Total Profit (Loss is listed with
48,357,142.98 47,119,597.25
“-”)
Less: Income tax 14,782,488.53 11,911,447.40
V. Net profit (Net loss is listed with “-”) 33,574,654.45 35,208,149.85
Including: net profit realized for
merged party before combination
Net profit attributable to owner’s
40,877,845.25 34,607,026.34
equity of parent Company
Minority shareholders’ gains and
-7,303,190.80 601,123.51
losses
VI. Earnings per share -- --
i. Basic earnings per share 0.0535 0.0544
ii. Diluted earnings per share 0.0535 0.0544
VII. Other consolidated income -138,618.29 -150,471.20
22
Hefei Meiling Co., Ltd. The First Quarterly Report 2013 (Full Text)
VIII. Total consolidated income 33,436,036.16 35,057,678.65
Total consolidated income
attributable to owners of parent 40,794,674.28 34,516,743.62
Company
Total consolidated income
-7,358,638.12 540,935.03
attributable to minority shareholders
Legal Representative: Liu Tibin
Person in charge of accounting works: Yu Wanchun
Person in charge of accounting institute: Tang Bin
4. Profit statement of parent company
Prepared by Hefei Meiling Co., Ltd.
Unit: RMB
Item Amount in this period Amount in last period
I. Operation income 1,545,646,587.62 1,397,547,537.71
Less: Operation cost 1,302,874,910.04 1,216,817,422.17
Operating tax and extras 16,447,323.79 3,636,826.24
Sales expenses 123,574,368.73 102,877,657.98
Administration expenses 41,875,502.56 46,198,636.42
Financial expenses -12,809,624.29 -20,606,542.37
Losses of devaluation of asset -584,793.30 -7,808,163.46
Add: Changing income of fair
value(Loss is listed with “-”)
Investment income (Loss is listed
38,031.73 62,328.45
with “-”)
Including: Investment income
38,031.73 62,328.45
on affiliated Company and joint venture
II. Operating profit (Loss is listed
74,306,931.82 56,494,029.18
with “-”)
Add: Non-operating income 2,436,660.68 1,303,861.13
Less: Non-operating expense 215,012.31 470,558.33
Including: Disposal loss of
215,012.31 470,558.33
non-current asset
III. Total Profit (Loss is listed with
76,528,580.19 57,327,331.98
“-”)
Less: Income tax 12,504,256.79 10,879,464.65
IV. Net profit (Net loss is listed with
64,024,323.40 46,447,867.33
“-”)
23
Hefei Meiling Co., Ltd. The First Quarterly Report 2013 (Full Text)
V. Earnings per share -- --
i. Basic earnings per share 0.0838 0.07
ii. Diluted earnings per share 0.0838 0.07
VI. Other consolidated income
VII. Total consolidated income 64,024,323.40 46,447,867.33
Legal Representative: Liu Tibin
Person in charge of accounting works: Yu Wanchun
Person in charge of accounting institute: Tang Bin
5. Consolidated cash flow statement
Prepared by Hefei Meiling Co., Ltd.
Unit: RMB
Item Amount in this period Amount in last period
I. Cash flows arising from operating
activities:
Cash received from selling
commodities and providing labor 1,570,128,786.37 1,390,920,733.09
services
Net increase of customer deposit
and interbank deposit
Net increase of loan from central
bank
Net increase of capital borrowed
from other financial institution
Cash received from original
insurance contract fee
Net cash received from reinsurance
business
Insured savings and net increase of
investment
Net increase of disposal of
transaction financial asset
Cash received from interest,
commission charge and commission
Net increase of capital borrowed
Net increase of returned business
capital
Write-back of tax received 11,153,348.60 13,744,120.64
24
Hefei Meiling Co., Ltd. The First Quarterly Report 2013 (Full Text)
Other cash received concerning
19,448,404.44 4,733,910.95
operating activities
Subtotal of cash inflow arising
1,600,730,539.41 1,409,398,764.68
from operating activities
Cash paid for purchasing
commodities and receiving labor 1,220,761,645.96 1,170,601,469.32
service
Net increase of customer loans and
advances
Net increase of deposits in central
bank and interbank
Cash paid for original insurance
contract compensation
Cash paid for interest, commission
charge and commission
Cash paid for bonus of guarantee
slip
Cash paid to/for staff and workers 215,306,868.55 176,132,186.73
Taxes paid 119,955,382.18 53,089,813.56
Other cash paid concerning
134,651,012.28 140,966,582.38
operating activities
Subtotal of cash outflow arising
1,690,674,908.97 1,540,790,051.99
from operating activities
Net cash flows arising from
-89,944,369.56 -131,391,287.31
operating activities
II. Cash flows arising from investing
activities:
Cash received from recovering
-50,000.00
investment
Cash received from investment
516,596.00
income
Net cash received from disposal of
fixed, intangible and other long-term 204,926.00 557,803.00
assets
Net cash received from disposal of
subsidiaries and other units
Other cash received concerning
5,208,004.79 3,266,905.75
investing activities
25
Hefei Meiling Co., Ltd. The First Quarterly Report 2013 (Full Text)
Subtotal of cash inflow from
5,929,526.79 3,774,708.75
investing activities
Cash paid for purchasing fixed,
37,181,273.50 50,796,274.87
intangible and other long-term assets
Cash paid for investment
Net increase of mortgaged loans
Net cash received from
subsidiaries and other units
Other cash paid concerning
100,000.00 63,443.51
investing activities
Subtotal of cash outflow from
37,281,273.50 50,859,718.38
investing activities
Net cash flows arising from
-31,351,746.71 -47,085,009.63
investing activities
III. Cash flows arising from financing
activities:
Cash received from absorbing
investment
Including: Cash received from
absorbing minority shareholders’
investment by subsidiaries
Cash received from loans 52,308,945.90 9,517,752.79
Cash received from issuing bonds
Other cash received concerning
financing activities
Subtotal of cash inflow from
52,308,945.90 9,517,752.79
financing activities
Cash paid for settling debts 61,038,234.85 11,000,000.00
Cash paid for dividend and profit
1,461,101.85 1,916,677.69
distributing or interest paying
Including: Dividend and profit of
minority shareholder paid by
subsidiaries
Other cash paid concerning
1,305.35
financing activities
Subtotal of cash outflow from
62,499,336.70 12,917,983.04
financing activities
Net cash flows arising from -10,190,390.80 -3,400,230.25
26
Hefei Meiling Co., Ltd. The First Quarterly Report 2013 (Full Text)
financing activities
IV. Influence on cash due to fluctuation
2,065,932.92 3,192,615.43
in exchange rate
V. Net increase of cash and cash
-129,420,574.15 -178,683,911.76
equivalents
Add: Balance of cash and cash
1,701,307,578.13 1,401,674,679.41
equivalents at the period -begin
VI. Balance of cash and cash
1,571,887,003.98 1,222,990,767.65
equivalents at the period -end
Legal Representative: Liu Tibin
Person in charge of accounting works: Yu Wanchun
Person in charge of accounting institute: Tang Bin
6. Cash flow statement of parent company
Prepared by Hefei Meiling Co., Ltd.
Unit: RMB
Item Amount in this period Amount in last period
I. Cash flows arising from operating
activities:
Cash received from selling
commodities and providing labor 1,105,445,763.90 1,039,414,237.50
services
Write-back of tax received 9,750,170.95 13,354,107.09
Other cash received concerning
15,994,927.47 406,351.37
operating activities
Subtotal of cash inflow arising
1,131,190,862.32 1,053,174,695.96
from operating activities
Cash paid for purchasing
commodities and receiving labor 963,186,320.66 1,065,929,384.89
service
Cash paid to/for staff and workers 109,600,118.92 86,635,481.81
Taxes paid 41,144,653.42 32,916,050.67
Other cash paid concerning
29,306,864.76 50,423,248.32
operating activities
Subtotal of cash outflow arising
1,143,237,957.76 1,235,904,165.69
from operating activities
Net cash flows arising from
-12,047,095.44 -182,729,469.73
operating activities
II. Cash flows arising from investing
27
Hefei Meiling Co., Ltd. The First Quarterly Report 2013 (Full Text)
activities:
Cash received from recovering
investment
Cash received from investment
516,596.00
income
Net cash received from disposal of
fixed, intangible and other long-term 204,926.00 475,073.00
assets
Net cash received from disposal of
subsidiaries and other units
Other cash received concerning
5,262,086.34 1,976,936.35
investing activities
Subtotal of cash inflow from
5,983,608.34 2,452,009.35
investing activities
Cash paid for purchasing fixed,
29,206,903.45 33,908,559.70
intangible and other long-term assets
Cash paid for investment
Net cash received from
subsidiaries and other units
Other cash paid concerning
investing activities
Subtotal of cash outflow from investing
29,206,903.45 33,908,559.70
activities
Net cash flows arising from
-23,223,295.11 -31,456,550.35
investing activities
III. Cash flows arising from financing
activities:
Cash received from absorbing
investment
Cash received from loans
Cash received from issuing bonds
Other cash received concerning
50,756,558.58
financing activities
Subtotal of cash inflow from
50,756,558.58
financing activities
Cash paid for settling debts 13,073,840.00
Cash paid for dividend and profit
1,260,000.00 1,454,021.87
distributing or interest paying
28
Hefei Meiling Co., Ltd. The First Quarterly Report 2013 (Full Text)
Other cash paid concerning
413,962.50 10,000,000.00
financing activities
Subtotal of cash outflow from
14,747,802.50 11,454,021.87
financing activities
Net cash flows arising from
36,008,756.08 -11,454,021.87
financing activities
IV. Influence on cash due to fluctuation
1,371,210.19 2,359,884.64
in exchange rate
V. Net increase of cash and cash
2,109,575.72 -223,280,157.31
equivalents
Add: Balance of cash and cash
1,235,992,818.90 1,045,235,918.61
equivalents at the period -begin
VI. Balance of cash and cash
1,238,102,394.62 821,955,761.30
equivalents at the period -end
Legal Representative: Liu Tibin
Person in charge of accounting works: Yu Wanchun
Person in charge of accounting institute: Tang Bin
II. Audit report
Whether the 1st quarterly report has been audited or not
□Yes √ No
Hefei Meiling Co., Ltd.
Chairman: Liu Tibin
Submitted date approved by the Board: 19 April 2013
29
