HEFEI MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2014(Full Text)
HEFEI MEILING CO., LTD.
THE THIRD QUARTERLY REPORT FOR 2014
October 2014
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HEFEI MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2014(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 hereby confirm that there are no any fictitious
statements, misleading statements, or important omissions carried in this report, and shall take all responsibilities,
individual and/or joint, for the reality, accuracy and completion of the whole contents.
Principal of the Company Mr. Liu Tibin, President Mr. Li Wei, Person in Charge of Accounting Works Mr.
Zhang Xiaolong and Person in Charge of Accounting Organ (Accounting Officer) Mr. Tang Bin hereby confirm
that the Financial Report of the Third Quarterly Report is authentic, accurate and complete.
Third quarterly report of 2014 has not been audited.
All directors of the Company are attended the Meeting for quarterly report deliberation.
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HEFEI MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2014(Full Text)
Section II. Main accounting data and changes of shareholders
I. Main accounting data and index
Whether it has retroactive adjustment or re-statement on previous accounting data for accounting policy changed and accounting
error correction or not
□Yes √ No
Current period-end Period-end of last year Increase/decrease
Total assets(RMB) 8,947,455,092.58 8,522,171,841.34 4.99%
Net assets attributable to
shareholders of listed company 3,374,315,802.20 3,187,330,516.90 5.87%
(RMB)
Increase/decrease in
Increase/decrease in
Year-begin to end of comparison with
Current period comparison with same
the Period year-begin to
period of last year
Period-end of last year
Operating revenue (RMB) 2,441,249,157.46 -4.61% 8,785,638,209.63 3.23%
Net profit attributable to
shareholders of the listed company 80,111,532.95 15.37% 239,217,808.78 16.62%
(RMB)
Net profit attributable to
shareholders of the listed company
78,703,018.50 43.27% 222,360,943.61 19.82%
after deducting non-recurring
gains and losses(RMB)
Net cash flow arising from
-- -- -194,210,258.34 71.67%
operating activities(RMB)
Basic earnings per share
0.1049 15.40% 0.3132 16.60%
(RMB/Share)
Diluted earnings per share
0.1049 15.40% 0.3132 16.60%
(RMB/Share)
Weighted average ROE (%) 2.39% 0.17% 7.26% 0.54%
Total share capital of the Company up to a trading day before disclosure:
Total share capital of the Company up to a trading day before disclosure (Share) 763,739,205
Whether share capital of the Company, from period-end to the disclosure date of 3rd quarter report, has changed
and has influenced on amount of owners’ equity due to the new shares issuing, increase issues in stocks, allotment,
stock ownership incentive exercise and buy-back etc. or not
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HEFEI MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2014(Full Text)
□Yes √No
Items and amount of extraordinary profit (gains)/losses
√Applicable □Not applicable
In RMB
Amount from year-begin to
Item Note
end of the Period
Gains/losses from the disposal of non-current asset (including the
-78,297.85 -
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
14,909,996.14 -
national standards, which are closely relevant to enterprise’s
business)
Income from the exceeding part between investment cost of the
Company paid for obtaining subsidiaries, associates and
-3,542,539.95 -
joint-ventures and recognizable net assets fair value attributable
to the Company when acquiring the investment
Gain/loss from debt restructure 955,413.10 -
Except for effective hedge business relevant to normal operation
of the Company, gains and losses arising from fair value change
of tradable financial assets and tradable financial liabilities, and 519,200.00 -
investment income from disposal of tradable financial assets,
tradable financial liabilities and financial assets available for sale
Other non-operating income and expenditure except for the
7,050,457.56 -
aforementioned items
Less: impact on income tax 2,804,646.70 -
Impact on minority shareholders’ equity (post-tax) 152,717.13 -
Total 16,856,865.17 --
Concerning the extraordinary profit (gain)/loss defined by Q&A Announcement No.1 on Information Disclosure for Companies
Offering Their Securities to the Public --- Extraordinary Profit/loss, and the items defined as recurring profit (gain)/loss according to
the lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their
Securities to the Public --- Extraordinary Profit/loss, explain reasons
□ Applicable √ Not applicable
In reporting period, the Company has no particular about items defined as recurring profit (gain)/loss according to
the lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies
Offering Their Securities to the Public --- Extraordinary Profit/loss.
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HEFEI MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2014(Full Text)
II. Statement of the total shareholders and shares-held of top ten shareholders at end of the
Period
1. Statement of the total common shareholders and shares-held of top ten common
shareholders at end of the Period
In share
Total common shareholders in reporting period 65,865
Shares-held of top ten common shareholders
Proportion Amount of Number of share
Amount of
Shareholders Nature of shareholder of shares restricted pledged/frozen
shares held
held shares held State of share Amount
State-owned legal
Sichuan Changhong Electric Co., LTD 21.58% 164,828,330 0 - -
person
State-owned legal
Hefei Xingtai Holding Group Co., Ltd. 6.26% 47,823,401 0 - -
person
Zhengde life insurance Co., LTD-universal Domestic non
3.77% 28,828,630 0 - -
insurance products state-owned corporate
Changhong (Hong Kong) Trading Company
Foreign legal person 3.30% 25,165,823 0 - -
Limited
GUOTAI JUNAN
Foreign legal person 1.88% 14,361,854 0 - -
SECURITIES(HONGKONG) LIMITED
CAO SHENGCHUN Foreign natural person 1.72% 13,172,274 0 - -
DRAGON BILLION CHINA MASTER
Foreign legal person 0.70% 5,329,489 0 - -
FUND
NORGES BANK Foreign legal person 0.55% 4,216,432 0 - -
Long Qinfang Foreign natural person 0.42% 3,200,597 0 - -
FOTIC – Zunjia ALPHA securities
Domestic non
investment limited partnership trust plan of 0.41% 3,119,100 0 - -
state-owned corporate
assembled funds
Particular about top ten common shareholders with un-restrict shares held
Amount of unrestricted Type of shares
Shareholders’ name common shares held at
Type Amount
reporting period-end
Sichuan Changhong Electric Co., LTD 164,828,330 RMB ordinary shares 164,828,330
Hefei Xingtai Holding Group Co., Ltd. 47,823,401 RMB ordinary shares 47,823,401
Zhengde life insurance Co., LTD-universal insurance products 28,828,630 RMB ordinary shares 28,828,630
Domestically listed
Changhong (Hong Kong) Trading Company Limited 25,165,823 25,165,823
foreign shares
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HEFEI MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2014(Full Text)
Domestically listed
GUOTAI JUNAN SECURITIES(HONGKONG) LIMITED 14,361,854 14,361,854
foreign shares
Domestically listed
CAO SHENGCHUN 13,172,274 13,172,274
foreign shares
Domestically listed
DRAGON BILLION CHINA MASTER FUND 5,329,489 5,329,489
foreign shares
Domestically listed
NORGES BANK 4,216,432 4,216,432
foreign shares
Domestically listed
Long Qinfang 3,200,597 3,200,597
foreign shares
FOTIC – Zunjia ALPHA securities investment limited
3,119,100 RMB ordinary shares 3,119,100
partnership trust plan of assembled funds
Among the above shareholders, Changhong (Hong Kong) Trading 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
Explanation on associated relationship among the aforesaid Information Disclosure of Shareholder Equity Changes of Listed
shareholders Companies among Sichuan Changhong Electronic Co., Ltd., Changhong
(Hong Kong) Trading Co., Ltd. and other top 8 shareholders; and the
Company has not known whether they belong to the concerted actors as
specified in the Measures for the Administration of Information Disclosure
of Shareholder Equity Changes of Listed Companies or not.
Explanation on shareholders involving margin business about
top ten common shareholders with un-restrict shares held (if -
applicable)
Whether top ten common shareholders or top ten common shareholders with un-restrict shares held have a buy-back agreement
dealing in reporting period
√Yes □No
In reporting period, shareholder of the Company Hefei Xingtai Holding Co., Ltd. (Xingtai Holding for short)
exercise agreed-to-buy-back and implemented buy-back obligation in line with the agreement after trading
expired, more details are:
On 13 September 2013, Xingtai Holding exercise agree to buy-back security transaction with GuoYuan
Securities Co., Ltd. (―GuoYuan Securities‖) with the unrestricted circulated A-share of the Company for one year
term of repurchased, that is 37,800,000 shares (accounts for 4.95 percent of total share capital of the Company).
Ownership transfer has completed on 16 September 2013 by Xingtai Holding and GuoYuan Securities. More
details with this transaction concerned please found in the Notice No.: 2013-043 released on appointed media
dated 17 September 2013
In the reporting period, the above said agree-to-buy-back securities transaction has due to repurchase. Xingtai
Holding implemented the repurchase obligation on 11 September 2014 in line with the agreement of
agree-to-buy-back, amount of shares repurchased counting as 37,800,000 shares. Xingtai Holding possess
10,023,401 shares of the Company before the trade, a 1.31 percent of total share capital of the Company; and
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HEFEI MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2014(Full Text)
47,823,40 shares in total of the Company hold by Xingtai Holding after the trade, representing 6.26 percent of the
total share capital of the Company. Found more in Notice No.: 2014-059 published on appointed medial dated 13
September 2014 under the name of the Company.
2. Total of shareholders with preferred stock held and the top ten shareholdings in Period-end
□Applicable √Not applicable
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HEFEI MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2014(Full Text)
Section III. Important events
I. Particular about major changes from items of main accounting statements and financial
indexes as well as reasons
√ Applicable □Not applicable
(I) Impacts on consolidation statement from the new accounting standard that revised
In accordance with the ―The Accounting Standards for Enterprises No. 2—Long-term Equity Investment‖, as
for the invested entity’s ―long-term equity investment‖ which the Company has no common control or significant
influence and have no quotation price in active market and whose fair value could not be able to measured surely,
collected in the ―The Accounting Standards for Enterprises No. 22—Recognition and Measurement of Financial
Instruments‖; the original investment (calculated in long-term equity investment with book value of RMB 5.5
million up to end of September 2014) transfer to the financial assets available for sale for listing, the investment
with book value of RMB 6.5 million in consolidation statement at year-beginning will adjust correspondingly.
(II) Particular about changes from items of main accounting statements and financial
indexes as well as reasons
1. Changes of items of balance sheet and cause analysis
In RMB
Item Closing balance Opening balance Changes Reasons
Financial assets measured
Mainly because the Company Carried out the forward
by fair value and whose
519,200.00 - 100.00% foreign exchange contracts in Period and there was no such
change is recorded in
trading at same period of last year
current gains and losses
Mainly because the Company’s credit customer sales ratio
Account receivables 1,147,193,509.04 855,264,087.13 34.13%
increased y-o-y in Period.
Investment for the parent company’s infrastructure project
Construction in progress 96,181,887.15 52,514,642.10 83.15% of environmental ice-box with large volume in the Period
increased
Expense on Research and
13,749,779.61 9,516,070.34 44.49% The Company increased investment in R&D in period.
Development
Mainly due to the enterprise combination under the
Goodwill 5,313,913.50 - 100.00%
different control in Period
Mainly because the short-term borrowings from parent
Short-term borrowings 360,766,913.32 66,433,079.86 443.05%
company increased in Period.
Taxes payable 33,701,352.30 -4,920,046.33 - VAT retained at the begin of the period
Non-current liability due The long-term loans due within one year was paid by
11,122,579.10 119,256,114.30 -90.67%
within one year parent company in Period
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HEFEI MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2014(Full Text)
Deferred income tax The same as ―Financial assets measured by fair value and
127,799.85 - 100.00%
liabilities whose change is recorded in current gains and losses ‖。
Retained profit 802,116,974.29 608,723,517.81 31.77% Mainly because retained profit increased in the Period.
Balance difference of Mainly due to the changes of rate in foreign currency for
-3,459,099.21 -1,939,397.56 -78.36%
foreign currency translation oversea subsidiaries in Period
Minority shareholders’
5,949,075.86 20,399,491.82 -70.84% Mainly because part of the subsidiaries loss in the Period.
equity
2. Changes of items of profit statement and cause analysis
In RMB
Same period of
Item This Period Changes Reasons
last year
The same as ―Financial assets measured by
Add: Changing income of fair
519,200.00 - 100.00% fair value and whose change is recorded in
value(Loss is listed with ―-‖)
current gains and losses ‖.
The initial investment was loss due to the
Investment income (loss is
-3,182,602.11 655,790.37 -585.31% enterprise combined not under the same
listed with ―-―)
control in Period
Including: Investment income
Part of the affiliated enterprise and joint
on affiliated company and joint -1,465,123.55 -732,404.61 -100.04%
venture losses increased in the Period.
venture
Including: Disposal loss of Disposal of non-current asset decreased in
1,596,131.19 5,127,519.33 -68.87%
non-current asset the period.
Minority shareholders’ gains Mainly because part of subsidiary loss
-11,133,180.75 -16,581,506.46 32.86%
and losses decreased in Period.
3. Changes of items of cash flow statement and cause analysis
In RMB
Same period of
Item This Period Changes Reasons
last year
Parent company received energy-saving
Other cash received
people-benefit subsidy at same period of last
concerning operating 27,382,231.39 86,775,073.57 -68.44%
year while no such amount occurred in the
activities
Period
The deferred taxes for year of 2012 paid at same
period of last by Sichuan Air-conditioner and
Taxes paid 322,955,088.33 461,939,182.35 -30.09%
VAT retained at beginning of the year of the
parent company
The remove loss arising from early release of
Net cash received from ―House Lease Contract‖ was paid to Mianyang
disposal of fixed, intangible 41,316,035.71 18,269,532.35 126.15% Meiling Refrigeration by Sichuan Changhong
and other long-term assets Minsheng Logistics and the compensation
received due to early termination option
Other cash received Parent company of interest income increased
75,688,576.33 43,682,448.19 73.27%
concerning investing y-o-y in the Period
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HEFEI MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2014(Full Text)
activities
Money paid for purchasing minority equity from
Cash paid for investment 1,217,812.00 2,011,142.68 -39.45% part of the subsidiary decreased y-o-y in the
Period
Mainly because short-term borrowings from
Cash received from loans 1,322,865,410.42 526,937,824.68 151.05%
parent company increased in Period
Short-term loans of the parent company paid in
Cash paid for settling debts 1,146,752,483.72 118,788,409.39 865.37%
the period.
Cash paid for dividend and Parent company paid bonus in the Period and
profit distributing or interest 60,590,588.42 41,946,233.84 44.45% interest of loans paid in the Period increased
paying y-o-y
Other cash paid concerning Equity of minority shareholders of part of the
3,068,420.75 77,487.63 3859.88%
financing activities subsidiary decreased in the Period
Influence on cash and cash
Mainly due to the changes of foreign currency
equivalents due to 6,852,120.57 13,377,740.60 -48.78%
rate in Period
fluctuation in exchange rate
II. Progress of significant events, their influences, and analysis and explanation of their
solutions
√ Applicable □Not applicable
(I) General usage of raised capital
Total proceeds raised in privately offering in 2010 are RMB1,199,999,820.00 and the net proceeds amount to
RMB1,177,954,320.00 after deducted offering expenses RMB 22.0455 million (including underwriting and
sponsoring fee RMB 20.5 million).
In 2013, the three construction projects with fund-raising investment have completed and reaching the design
capacity, that is ―Athena Luxury refrigerator production base‖, ―Freezer expansion project‖ and ―Expansion
project of environmental and energy-saving refrigerators‖, meanwhile, ―working capital supplementation‖ project
implemented and recently, the Company has no other projects that suitable for investment by fund-raising.
According to the operation requirement of the Company, being approved by the Board, supervisory committee and
the general meeting of shareholders that balance of raising funds 284.440959 million Yuan (including interest
34.832977 million Yuan) up to 30 September 2013 and later interest are supplying the working capital of the
Company permanently. The Company actually withdrawal 289.091987 million Yuan for working capital
supplementation permanently up to 30 September 2014.
Up to the 30th of September 2014, the Company actually used 877.110809 million Yuan accumulatively in
fund-raising, balance of fund-raising accounting as 53.576228 million Yuan (including 2,235,875 Yuan undrawn
used for working capital supplementation, and totally 51,340,353 Yuan ready for contract payment and quality
assurance). More details are:
Athena Luxury refrigerator production base project: total investment amounting to 528508471 Yuan in total
after savings deducted. Up to 30th of September 2014, the project accumulatively invested 503,274,202 Yuan,
balance of fund-raising was 26,808,550 Yuan, including 25,234,269 Yuan ready for contract payment and quality
assurance and 1,574,281 Yuan undrawn used for working capital supplementation permanently.
Capacity expansion project for freezer: the project owns total investment of 251.883547 million Yuan after
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HEFEI MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2014(Full Text)
savings deducted. Up to 30 September 2014, the project have accumulative investment of 225,777,463 Yuan,
balance at fund-raising account was 26,767,678 Yuan, including amount ready for payment and quality assurance
26,106,084 Yuan and 661,594Yuan without extract used for supply current capital permanently.
(II) Implementation for annual performance incentive fund
On August 9, 2012 and August 28, 2012, the Company considers the adoption of "Hefei Meiling annual
performance incentive fund implementation plan" (hereinafter referred to as "" stimulus "") on the 16th meeting of
the 7th board of directors and the 2012-second provisional shareholders meeting. Details were disclosed on
information disclosure media appointed by the Company as "Securities Times", "Chinese Securities Daily",
"Hong Kong Commercial Daily" and the Juchao network (www.cninfo.com.cn) on August 10, 2012 and August
29th in the form of announcement (2012-028, 2012-035).
1. Implementation about 2012 performance incentive fund provision and distribution plan
Found more in ―(VIII) Implementation for annual performance incentive fund‖ carried in ―XIV Explanation on
other important events‖ of ―Section V Important Event‖ in Semi-Annual Report of 2014 disclosed on 12 August
2014
Up to the reporting period, shares held by part of the incentive objects are holding for one year, in line with
the regulation and commitment of ―Incentive Plan‖, 50 percent of the shares bought with self-owned funds and the
performance incentive fund awarded for year of 2012 are allow to release. However, shares holding and changes
for those directors, supervisors and senior management among the incentives must meet the relevant regulations
of Company Law, Securities Laws and Administration Rules to Shares or Changes of Directors, Supervisors and
Senior Management. Meanwhile, during the reporting period, for those shares bought with self-owned fund and
the performance incentive funds awarded for year of 2013 by part of the directors, supervisors and senior
executives, according to relevant laws and regulations, the stock of the Company are not allowed for sell within 6
months after buy in, if any condition against the above rule is found, all his interests will belong to the listed
company.
2. Implementation of 2013 annual performance incentive provision and distribution program
According to the "incentive" the Company has approved, operating results and the actual operation situation
the Company audited has reached the annual performance incentive fund granted conditions in 2012. The
Company held 37th meeting of the seventh session of the board in June 16, 2014 and in July 3, 2014 held the first
provisional shareholders' meeting of 2014. The board of supervisors, independent directors, the directors,
supervisors approved the "2013 Annual Performance Incentive Fund Provision and Allocation Scheme", as
follows:
(1) Excitation range and number: 40 people compliance with the conditions of the incentive objects (senior
management, middle management, and core technology and business personnel).
(2) Funding: meter 27,406,800 Yuan for incentive fund from 10% of net profit audited attributable to
shareholders the Company audited in 2013. Including, 26,357,500 Yuan has been distributed to 40 in line with the
requirements of the incentive objects (part of directors, supervisors, and senior management, middle management,
and core technology and business personnel). All the incentive object paid 30% of all the received performance
incentive fund (income tax excluded) and not less than the total annual compensation (annual total compensation
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HEFEI MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2014(Full Text)
except the performance
(3) Share holding: According to the "incentive plan" he company have approved, and under the premise of
the Listing Rules of Shenzhen Stock Exchange and other applicable Chinese laws and regulations, incentive target
promised within 60 working days as of receipt of the performance incentive funds (In case of regulatory ruled the
trading of shares shall not be specified, the time extended), to purchase the Company's shares through the open
market. Up to the Report disclosed, part of the incentive objects have bough the stock and lock-up in line with the
commitment. Sales condition for part of the directors, supervisors and senior executives of the Company are
disclosed on appointed medial from 19 August 2014 to 17 September 2014
(4) Shares restricted commitments:
According to the "Annual Performance Incentive Fund Implementation Plan of Hefei Meiling Co., Ltd" and
the commitment of all incentive targets, all the shares transacted are forbidden to sell in any forms in future 1 year.
In the 2nd year, 50% can be sold in accordance with laws/rules. The rest 50% can be sold in the 3rd year. As for the
mentioned 30 incentives had held these shares for nearly 1 year; it is expected 50% will be transactional in August
and September 2014 by rules. But the rest 50% will still be restricted for another one year. But, directors,
supervisors and senior management among these incentives must settle shares strictly in accordance with
Company Law, Securities Laws, Administration Rules to Shares or Changes of Directors, Supervisors and Senior
Management. The rules include but not limit as: during position, more than 25% of total shares hold are not
allowed to be transferred; shares bought from the Company within 6 months are not allowed to sold while shares
sold within 6 months are not allowed to buy in; shares are not allowed to transfer within half year since resign.
Details were disclosed on information disclosure media appointed by the Company as Securities Times,
China Securities Journal, Hong Kong Commercial Daily and Juchao Website respectively on 17 June 2014, 4 July
2014, 19 August 2014, 27 August 2014, 28 August 2014 and 17 September 2014 in form of Notice No. 2014-036,
No. 2014-037, No. 2014- 040, Notice No. 2014-046, Notice No. 2014-055, Notice No. 2014-056, Notice No.
2014-057 and Notice No. 2014-060.
(III) Other important events
Overview Disclosure date Query index for interim notice
According to the future development strategy of the Company, based
on intelligent and frequency conversion core-technology, the Juchao Website:
Company and subordinate subsidiary Mianyang Meiling Refrigeration 21 January 2014 http://www.cninfo.com.cn
Co., Ltd. (Mianyang Meiling for short) established ―Meiling Software (No.: 2014-001)
Technology Co., Ltd.‖ jointly with RMB 5 million.
In January 2014, the Company received the 2013 Annual Audit Report
from Sichuan Changhong Finance Co., Ltd. (Changhong Finance
18 October Juchao Website:
Company for short), the Report was audited by Shine Wing CPAs,
2013, 8 http://www.cninfo.com.cn
who has the securities and futures-related business qualifications. The
November 2013 (No.:2013-045, 2013-046,
2013 annual basic index of Changhong Finance Company met the
and 25 January 2013-048, 2013-053 and
requirements of the "Management Approaches for the Finance
2014 2014-003)
Companies of the Enterprise Group" issued by the China Banking
Regulatory Commission and the relevant regulations of Shenzhen
12
HEFEI MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2014(Full Text)
Stock Exchange, no case that needed to start the risk disposition plan
as ruled in ―Risk disposition plan about the loans and deposits
financial services of Sichuan Changhong Group Finance Company‖
has occurred, the Company shall carry out the deposits and loans
business in accordance with the "Financial Services Agreement"
signed with Changhong Finance Company, continued to do the risk
management to the deposit and loan businesses with Changhong
Finance Company funds between risk management, regularly carried
out the special risk assessments, and timely performed the information
disclosure obligations in accordance with the relevant regulations.
Being deliberated and approved in 33rd meeting of 7th session of the
Board held on 26 February 2014, the Company consent the Mianyang
Meiling and Sichuan Changhong Minsheng Logistics Co., Ltd.
Juchao Website:
(Minsheng Logistics for short) signed "Dismiss to the Rental
27 February http://www.cninfo.com.cn
Contract" thus cancel the "Rental Contract" which was signed in
2014 (No.: 2014-009 and
January 2010 and has not yet expired, while Minsheng Logistics pay
2014-010)
compensation to Mianyang Meiling 40 million Yuan to compensate
for the loss of Mianyang Meiling for relocation and production loss as
a result of the early termination.
In accordance with the "Listed Company Supervision Guidelines No.
4 - the actual control of listed companies, shareholders, affiliates, the
acquisition, commitments and implementation of listed companies "
from the CSRC, and relevant requirement of ―Notice of Specific
Disclosure of the actual control of listed companies, shareholders,
affiliates, the acquisition, commitments and implementation of listed
15 February Juchao Website:
companies‖ from Anhui Securities Regulatory Bureau, being full
2014, 2 April http://www.cninfo.com.cn
demonstration and communicated with controlling
2014, 14 May (No.: 2014-004, 2014-022,
shareholder-Sichuan Changhong Electrics Co., Ltd. (Sichuan
2014 and 6 June 2014-029, 2014-030,
Changhong for short) and affiliate Minsheng Logistics, and being
2014 2014-031 and 2014-034)
deliberated and approved by 36th meeting of 7th session of the Board
held on 13 May 2014 and 5 June 2014, the 20th meeting of 7th session
of supervisory committee as well as the annual general meeting of
2013, agreed to waive the commitment from controlling shareholder
Sichuan Changhong in assets transfer and commitment from Sichuan
Changhong and Minsheng Logistic in assets transfer
Aim at part of the reports, the Company published the Explanation on 19 Feb. 2014, 25 Juchao Website:
Intelligent Products from the Board and Clarification Announcement Feb. and 25 http://www.cninfo.com.cn
for explanation and clarification on intelligent products and part of the March No.: 2014-005
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HEFEI MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2014(Full Text)
media reports on information disclosure media appointed by the No.: 2014-008
Company dated 19 February 2014, 25 February 2014 and 25 March No.: 2014-014
2014 respectively in order to made clear conditions of intelligent
products for the investors
On 21 February 2014, the 7th batch of circulating shares with
restricted condition after the implementation of equity division reform 20 February Juchao Website:
were released from restriction and listed for trading. 4 shareholders 2014 http://www.cninfo.com.cn
were released in total with 1,458,835 shares released, representing (Mo.: 2014-006)
0.1910% of the total share capital of the Company.
On 24 February 2014, a written resignation report was received by the
Board from former director Mr. Sun Liqiang, Mr. Sun resigned the
director of 7th session of the Board and member of strategy committee 25 February Juchao Website:
of the Board due to personal occupation mobility. Being deliberated 2014 http://www.cninfo.com.cn
rd th
and approved in 33 meeting of 7 session of the Board and annual 27 February and (No.: 2014-007, 2014-009
general meeting of 3013, agreed to elected Mr. Gao Jian server as the 6 June and 2014-034)
th
non-independent director of 7 session of the Board, and holds the
same office term as the 7th session of the Board
Being deliberated and approved in 33rd meeting of 7th session of the
Board held on 26 February 2014, the Company entered into a
―Trademark Licensing Contract‖ with Sichuan Changhong. Sichuan
Juchao Website:
Changhong, with trademark ―CHiQ‖ applied for registration,
27 February http://www.cninfo.com.cn
authorized the Company and subordinate controlling subsidiary of the
2014 (No.: 2014-009 and
Company (agreed by Sichuan Changhong) to use the trademark for
2014-011)
free on basis of the products of intelligent refrigerator and AC under
the form of ―Home Internet‖. Permission period from 20 February
2014 to 19 February 2017
On March 3, 2014, the Company and Hefei Xingtai Holding Group
Co., Ltd. (hereinafter referred to as "Xingtai Holding") signed the
"Contingencies Confirmation Agreement". Both CPA finally approved
that contingencies debt of corporations undisclosed during audit and Juchao Website:
appraisal report when the Company acquired certain assets of Meiling 5 March 2014 http://www.cninfo.com.cn
Group, amounted to 8,021,786.31 Yuan. According to "Property (No.: 2014-012)
Rights Transfer Contract" signed in 2010 by the Company and Xingtai
Holding, the Xingtai Group should assume this part liability. Xingtai
Holdings paid the foregoing amounts as agreed.
According to business development needs, in order to lock revenue Juchao Website:
19 April 2014 6
and costs, avoid and prevent the risk of fluctuations in exchange rates http://www.cninfo.com.cn
th
June 2014
to secure sound management, in the 35 meeting of the Seventh Board (No.: 2014-023, 2014-024,
14
HEFEI MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2014(Full Text)
of Directors held on April 18 and June 5, 2014, the 19th meeting of 7th 2014-027 and 2014-034)
session of the Board as well as 2013 annual General meeting, the
Company agreed to carry forward foreign exchange transactions in the
2014-2015 business year while the balance of trade business is not
more than US$ 250 million
According to overseas development strategy and subsidiaries
Zhongshan Changhong business needs, the company allowed
Zhongshan Changhong Electrics Co., Ltd. (Zhongshan Changhong for
short) to invest in Pakistan with US$6,724,000 for fridge construction
Juchao Website:
projects. Meanwhile, the meeting deliberate and approved the
http://www.cninfo.com.cn
―proposal of increasing capital for Zhongshan Changhong Electrics 19 April 2014
(No.: 2014-023 and
Co., Ltd.‖ and agreed that the Company and subordinate
2014-026)
wholly-owned subsidiary Sichuan Changhong Air-condition Co., Ltd.
(Changhong Air-condition for short) increased capital RMB 40
million to Zhongshan Changhong for investment of fridge
construction projects in Pakistan.
In order to improve the production capacity of freezer with large
volume, enhance the competitiveness and profitability, and solve the
unflavored capacity constraints and to meet market demand, the Juchao Website:
Company approved project of annual production capacity of 600,000 19 April 2014 http://www.cninfo.com.cn
green energy freezers with large volume during 35th meeting of the (No.: 2014-023)
Seventh Session of the Board held on April 18, 2014 with investment
approximately amounting to RMB 76.79 million
On 26 March 2014 and 5 June 2014, the ―Profit Distribution Plan for
year of 2013‖ was deliberated and approved by 34th meeting of 7th
session of the Board, 18th meeting of 7th session of supervisory
Juchao Website:
committee and annual shareholders’ general meeting of 2013. The 28 March 2014
http://www.cninfo.com.cn
Company agreed to distribute 0.6 Yuan (tax included) in cash for 6 June 2014 19
(No.: 2014-015, 2014-016,
every 10 shares held by all shareholders of the Company based on July 2014
2014-034 and 2014-051)
total share capital 763,739,205 shares at present. The Company
disclosed the profit distribution plan for year of 2013 on 19 July 2014
and implemented the above said plans.
According to the operation requirement, and being deliberated and
approved in 37th meeting of 7th session of the Board on 16 June 2014, Juchao Website:
the Company entered into Trademark Licensing Contract with http://www.cninfo.com.cn
17 June 2014
Sichuan Changhong Electric Co., LTD (―Sichuan Changhong‖). (No.: 2014-036 and
Sichuan Changhong, agrees to authorized the trademark of 2014-038)
―CHANGHONG‖ and ―长虹‖ for free use via way of exclusive
15
HEFEI MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2014(Full Text)
license, to the Company and controlling subsidiary of the Company
who obtained the agreed in writing by Sichuan Changhong in
refrigerators and freezer products (products, packages and webpage
included) sale through electrical business channel and TV shopping.
Permission period from 16 June 2014 to 15 June 2017
Shareholder of controlling subsidiary of the Company-Zhongke
Meiling Hypothermia Technology Ltd. (Zhongke Meiling for
short)—Technical Institute of Physics and Chemistry, CAS (TIPC for
short) transfer 30 percent equity of Zhongke Meiling to its
wholly-owned subsidiary Zhongke Leading Assets Management
Juchao Website:
(Beijing) Co., Ltd. (Zhongke Leading for short). In consideration of
17 June 2014 4 http://www.cninfo.com.cn
the favorable cooperation with TIPC and combine with the operation
July 2014 (No.: 2014-036, 2014-039
development requirement with Zhongke Meiling, the Company, being
and 2014-046)
deliberated and approved by 37th meeting of 7th session of the Board
held on 16 June 2014 and 3 July 2014 and first extraordinary general
meeting of 2014, agreed to abandon the priority right to the transferee
on 30 percent equity of Zhongke Meiling that pans to transfer by
TIPC
On 16 June 2014 and 3 July, the ―proposal of general election of 8th
session of the Board‖ and ―proposal of general election of 8th session
of supervisory committee‖ are being deliberated and approved by 37th
meeting of 7th session of the Board, 21st meeting of 7th session of
supervisory committee and first extraordinary general meeting of
2014, office term for the 8th session of the Board/supervisory
committee was 3 years, that is from 3 July 2014 to 3 July 2017
On 3 July 2014, being deliberated and approved by first extraordinary Juchao Website:
meeting of 8th session of the Board, agreed to elected Mr. Liu Tibin as http://www.cninfo.com.cn
th
the Chairman of 7 session of the Board and Mr. Li Jin elected as the 17 June 2014 4 (No.: 2014-036, 2014-037,
deputy Chairman. Agreed to continuing contract with Mr. Li Wei as July 2014 2014-042, 2014-043,
president of the Company; according to the nomination from 2014-044, 2014-046,
president, agreed to continuing contract with Mr. Liu Hongwei as 2014-047 and 2014-048)
executive vice president of the Company, Mr. Liao Tao, Mr. Deng
Xiaohui and Mr. Zhongming further appointed as vice president of the
Company, and agreed to continuing contract with Mr. Zhang Xiaolong
as CFO (Finance Manager) of the Company; and agreed to continuing
contract with Ms. Li Xia as secretary of the Board. The Meeting also
deliberated and approved the ―proposal of established subordinate
special committee of 8th session of the Board‖
16
HEFEI MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2014(Full Text)
On 3 July 2014, being pass the proposal in first extraordinary meeting
of 8th session of supervisory committee, agreed to elected Mr. Yu
Wanchun as chairman of the 8th session of supervisory committee
The Company is planning acquisition of assets, in view of the
acquisition have major uncertainties, according to relevant regulations
of Rules Governing the Listing of Shares on Shenzhen Stock
Juchao Website:
Exchange, being applied to SZSE by the Company, shares of the
10 July 2014 15 http://www.cninfo.com.cn
Company suspend since the marketing opens dated 10 July 2014. In
July 2014 (No.: 2014-049 and
consideration of major differences on acquisition plan with the
2014-050)
intention seller, the timing of acquisition implement is premature, the
Company decided to terminate the assets acquisition. Being apply to
the SZSE, stock of the Company resume on 15 July 2014
On 12 September 2014, the Company was easing the restrictions on
restricted stocks offering privately and implemented shares in Juchao Website:
11 September
circulation. One person’s shares are released for listing, shares listing http://www.cninfo.com.cn
2014
amounting to 56,031,120 shares, representing 7.3364% of total share (No.: 2014-058)
capital.
III. Commitments made by the Company or shareholders holding above 5% shares of the
Company in reporting period or made in previous period and extending to reporting period
√ Applicable □Not applicable
17
HEFEI MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2014(Full Text)
Commitment Implement
Commitments Accepter Contents Commitment term
date ation
Strictly
1. The acquirer shall not engage in refrigerator business or activity which
performed
competes or will compete with business of Hefei Meiling Co., Ltd (―Meiling Effective
the
Electrical Appliances‖), or that which has interest conflict with Meiling permanently
commitme
Electrical Appliances.
nts
Strictly
Commitment and 2. The acquirer promises to apply shareholders’ right on a legal and reasonable performed
Commitments Sichuan Effective
guarantee of horizontal manner and shall not take any action to limit or affect the normal operation of the
made in Changhong permanently
competition avoidance Meiling Electrical Appliances. commitme
acquisition report Electric Co., 2007-6-12
made in ―Acquisition nts
or equity change LTD (―Sichuan
Report of Hefei Meiling
report Changhong‖) 3. For any opportunity to engage in competing business, the acquirer will
Co., Ltd‖ advise Meiling Electrical Appliances in written for engaging such business or
Strictly
not. If Meiling Electrical Appliances gives no clear written reply as to whether
performed
engaging the competing business or not within 20 days after receipt of the Effective
the
aforesaid letter, it shall be deemed that it will not engage in such business. The permanently
commitme
acquirer will only engage in non-competing business provided that Meiling
nts
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 with or has
Commitment regarding interest conflict with that of Meiling Electrical Appliances except for the Strictly
Commitment to reducing and action taken for sake of Meiling Electrical Appliances as required by Meiling performed
Sichuan Effective
made during the preventing competition Electrical Appliances. 2010-6-24 the
Changhong permanently
non-public offer with Meiling Electrical 2. The Company promises to apply shareholders’ right on a legal and commitme
Appliances reasonable manner and shall not take any action to limit or affect the normal nts
operation of Meiling Electrical Appliances.
18
HEFEI MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2014(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 related transaction agreement with Meiling Electrical
Appliances under the market principles of ―equally paid and mutual benefit‖,
Commitment regarding and fairly determined the transaction price according to the market prevailing Strictly
to reducing and standards. performed
Effective
standardizing related 2010-6-24 the
2. Perform the necessary obligations to make related directors and related permanently
transaction with Meiling commitme
shareholder abstain from voting according to relevant regulation, and observe
Electrical Appliances nts
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.
Strictly
performed
Commit to authorized Changhong Air Conditioning and Zhongshan Air Condition Appliance Co., Ltd. Effective
2010-11-6 the
(―Zhongshan Air Conditioning‖) to use ―Changhong‖ trademark and relevant patents for free. permanently
commitme
nts
1. Commit to disclose periodic reports on a truthful, accurate, complete, fair and prompt manner, to Strictly
disclose all the information that have important influences over investors, to accept supervision under the performed
Effective
The Company CSRC and Shenzhen Stock Exchange. 2011-1-7 the
permanently
2. Commit to make public clarification in respect of such information that is released from any public commitme
media and may result in misleading influences on stock price once the Company is aware of such nts
19
HEFEI MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2014(Full Text)
information.
3. The directors, supervisors, senior management and core technicians of the 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.
Commitment in
respect of applying
proceeds savings The Company has no high-risk investment performed in latest 12 months, such as portfolio investment;
2013-11-8 to Implementi
in supplement The Company and promised not to performing high-risk investment (e.g. portfolio investment) in 12 months after 2013-10-18
2014-11-8 ng
current capital for current capital supplied.
permanent
purpose
Strictly
1. Since the property transfer didn’t involve the buildings and land currently used by Changhong Air performed
Effective
Conditioning, Sichuan Changhong commits, upon the completion of equity transfer, to continue to lease the
permanently
such assets to Changhong Air Conditioning at market price; commitme
Commitment nts
made in transfer
Sichuan 2. After completion of this property transfer, Sichuan Changhong commits to manage to prevent new
of air 2009-12-10
Changhong related transaction with Meiling Electrical Appliances. For those which can not be prevented, Sichuan Strictly
conditioning
Changhong commits to determine the transaction price based on market accepted methods, so as to performed
assets property Effective
ensure fairness of related transaction and protection of the interest of Meiling Electrical Appliances. the
permanently
3. Sichuan Changhong commits that it will not engage in air conditioning and refrigerator business or commitme
activity which competes or will compete with business of Meiling Electrical Appliances, or that which nts
has interest conflict with Meiling Electrical Appliances.
20
HEFEI MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2014(Full Text)
1. Make promise not to reduce the shares of Meiling bought in every year during period of incentive fund
implemented via any market ways in the first year, which was allowed to be reduced by 50% according 2013-8-15,20 Three years after Implementi
Annual
to the laws and regulations in the second year, and the remaining 50% was allowed to be reduced in the 14-7-3 current stocks bought ng
performance
third year in accordance with the laws and regulations.
incentive fund, Part of the
From the date of
commitments by Directors,
2. The directors, supervisors and senior management, as the incentive objects of annual performance annual performance
incentive objects supervisors,
incentive fund, promised to manage in accordance with the relevant management approaches in incentive fund plan
while purchasing senior
accordance with the "Company Law", "Securities Law" and "The Company’s shares held by the approved by
stock of the executives and
directors, supervisors and senior management of the listed company and its change management rules", 2013-8-15,20 shareholder general Implementi
Company with other incentive
including but not limited to: during his tenure, the shares transferred each year shall not exceed 25% of 14-7-3 meeting to 6 moths ng
performance objects
the total number of shares held of the Company; shall not sell the shares of the Company within six after directors,
incentive funds
months after bought it or purchase again six months after sold it; shall not transfer the shares held within supervisors and
and owned fund
six months after Dismission. senior executive
resigned
Completed on time or not √Yes □No
Detail reasons for un-complement
Not applicable
and further plan
21
HEFEI MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2014(Full Text)
IV. Estimation of operation performance for year of 2014
Estimation of accumulative net profit from the beginning of the year to the end of next report period to be loss
probably or the warning of its material change compared with the corresponding period of the last year and
explanation of reason
□Applicable √Not applicable
V. Particular about security investment
□ Applicable √ Not applicable
Explanation on equity of other listed company held
□ Applicable √ Not applicable
No security investment in Period.
VI. Particulars about derivatives investment
√ Applicable □Not applicable
In 10 thousand Yuan
Ratio of
investmen
Amount
t amount
of reserve
Invest at
for Investme
Whether ment period-en Actual
Related Initial devaluati nt amount
related amoun d in net gains/loss
Operator relationsh Type investmen Start date End date on of at
trade or t at assets of es in
ip t withdrawi period-en
not period the period
ng (if d
-begin Company
applicable
at
)
period-en
d (%)
Forward
Financial
foreign
institution N/A No 5,019.93 2014-7-1 2015-12-31 0 0 5,019.93 1.49% 51.92
exchange
s
contract
Total 5,019.93 -- -- 0 0 5,019.93 1.49% 51.92
Capital resource Self-owned capital
Lawsuits (if applicable) Not applicable
Disclosure date for approval from the
2014-4-19
Board for investment of derivatives (if
22
HEFEI MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2014(Full Text)
applicable)
Disclosure date for approval from board of
shareholders for investment of derivatives 2014-6-6
(if applicable)
Risk analysis:
1. Market risk: the changes in domestic and foreign economic situation may create a
major volatility in exchange rate, future exchange business under certain market risks.
Forward exchange transaction business of the Company aims at lock-up the price in
sale and purchase of foreign exchange, and lowers the impact on profit from exchange
fluctuations. The Company will closely following the changes in exchange rate, based
on the target rate fix by business, with the research and judgment in aspect of the trend
in foreign exchange rate, determine the signature planning of agreement for forward
exchange transaction combine with prediction on receipt and payment as well as the
tolerance capacity of changing price arising from rate fluctuation; implement dynamic
management on the business to guarantee a reasonable profit standards for the
Company.
2. Liquidity risk: all of the foreign exchange funds trading are depend on reasonably
estimated of the import-export business in future, satisfy the requirement of trading
truth. In addition, forward exchange transaction operates in way of bank credit; there is
no impact on the fund liquidity of the Company.
3. Bank default risk: if the cooperative bank close down or default in contractual
Venture analysis and explanation on period, the Company is un-able to settle the original foreign exchange contract in
control measures for derivatives holding in contractual price, it exists a risks of income uncertainty. Therefore, the Company chose
Period (including but not limited to market the Chinese-funded banks as Bank of China, Agricultural Bank of China, Industrial and
risk, liquidity risk, credit risks, operational Commercial Bank of China and China Construction Bank for the foreign exchange
risk and legal risk etc.) funds trading and part of the larger foreign banks (e.g. Deutsche Bank, United
Overseas Bank, Oversea-Chinese Banking Corp. and HSBC etc.), the above mentioned
banks owns fund strength and operating soundness, there is a slim chance of money
costs for close down.
4. Operational risk: the money trading in forward exchange might causes relevant risks
due to the incorrect operations by handling personnel, relevant management
mechanism has formulated by the Company, well-defined the operation procedure and
duty officer in favor of preventing risk and risk control.
5. Legal risk: legal disputes may arise from the un-clear trading agreement signed
between the Company and banks in aspect of money trading in forward exchange. The
Company strengthens the review on relevant contracts in way of law, and chooses
banks for cooperation with good credit status in order to control the risk.
Explanation on control measures:
The ―Management Mechanism of Money Trading in Forward Exchange of Hefei
Meiling Co., Ltd.‖ was deliberated and approved in 35th meeting of 7th session of the
Board, and the mechanism regulated that be limited to the background of actual
business, mitigate risks for results, speculation and carry trade are prohibited. The
mechanism well-defined the main types, operation rules, approval permission,
23
HEFEI MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2014(Full Text)
management and internal operation procedures in aspect of money trading in forward
exchange, and making a claim for information isolation measures, internal risk report
system & risk treatments as well as information disclosure etc. The mechanisms is in
favor of strengthen the management of money trading in forward exchange, prevent
investment risks, perfected and improved the management mechanism of money
trading in forward exchange and guarantee a fund safe for the Company.
In accordance with the Article 7 ―Recognition of Fair Value‖ of ―The Accounting
Standards for Enterprises No. 22—Recognition and Measurement of Financial
Particular about the changes of market Instruments‖, the Company determined and measure the fair value basically in line
price or product’s fair value of invested with the price provided or obtained from pricing services such as banks. As for the
derivatives in Period; as for analysis of the calculation of fair value for derivatives, it mainly refers to the un-matured contract of
fair value of derivatives, disclosed specific forward exchange facilities that signed with the banks in reporting period, and
treatment methods and relevant hypothesis recognized as transactional financial assets or liabilities based on the difference of
and parameter setting forward exchange facilities’ contract quotation at period-end and forward rate. In the
reporting period, the gains/losses of forward foreign exchange contract amounting to
RMB 519,200.
In accordance with relevant regulations and guideline of ―The Accounting Standards
for Enterprises No. 22—Recognition and Measurement of Financial Instruments‖,
Explanation on major changes on specific
―Accounting Standards for Enterprises No. 24—Hedging‖ and ―Accounting Standards
principle of accounting policy and
for Enterprises No. 37—Presentation of Financial Instruments‖ from Ministry of
accounting calculation for derivatives in
Finance, carry out accounting treatments correspondingly for the forward exchange
Period, by comparing with last period
dealings that plans to exercise, shows relevant items of balance sheet and profit
statement.
Independent directors of the Company consider that: the fund trading of future
Specific opinions from independent directs exchange in 3Q of 2014 is closely related with the routine operation needs of the
on derivative investment and risk Company, the risks are controllable, and relevant business are exercise in line with the
controlling laws, regulations and relevant rules, no interest of the Company and whole
shareholders are been violated, minority shareholders in particular.
VII. Registration form of receiving research, communication and interview in the report
period
√ Applicable □Not applicable
Content discussed and
Date Place Way Type Object
documents provided
Conference Operation of the
2014-1-17 room of the Field research Institute E&B Assets Management Co., Ltd. Company, no materials
Company provided
Conference Changjiang Securities, Caitong Operation of the
2014-1-21 room of the Field research Institute Securities, ICBC Credit Suisse Asset Company, no materials
Company Management provided
2014-1-24 Conference Field research Institute CITIC Securities Operation of the
24
HEFEI MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2014(Full Text)
room of the Company, no materials
Company provided
Conference Minsen Investment, SWS Research, Operation of the
2014-2-11 room of the Field research Institute Orient Securities Asset Management, Company, no materials
Company Changsheng Fund Management provided
Changjiang Securities, China
Southern Asset Management,
Conference Operation of the
ABC-CA Fund Management,
2014-2-14 room of the Field research Institute Company, no materials
BOCAM Schroders Fund
Company provided
Management, HFT Investment
Management
China Investment Securities, Guotai
Junan Securities, China Merchants
Fund Management, Taikang Asset
Conference Operation of the
Management, Sinolink Securities,
2014-2-18 room of the Field research Institute Company, no materials
Haitong Securities, Shanghai
Company provided
Entertainment Holding Co., Ltd.,
GTJA Allianz Funds Management,
Anbang Asset Management
Conference Operation of the
2014-5-13 room of the Field research Institute Bohai Securities, SMC China Fund Company, no materials
Company provided
Conference Operation of the
2014-5-15 room of the Field research Institute GF Securities Company, no materials
Company provided
Sinolink Securities, ABC-CA Fund
Management, BOCAM Schroders
Conference Fund Management, China Bodao Operation of the
2014-5-27 room of the Field research Institute Capital, Beijing Jiahuiying Company, no materials
Company Investment Management (limited provided
partnership), Harvest Fund
Management
Conference Operation of the
2014-6-18 room of the Field research Institute GF Securities, Huabao Investment Company, no materials
Company provided
Conference Changjiang Securities, GTJA Allianz Operation of the
2014-6-24 Field research Institute
room of the Funds Company, no materials
25
HEFEI MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2014(Full Text)
Company provided
Conference Operation of the
2014-8-19 room of the Field research Institute Great Wall Securities Company, no materials
Company provided
Conference Operation of the
Sinolink Securities, Huabao
2014-9-3 room of the Field research Institute Company, no materials
Investment, UBS SDIC
Company provided
26
HEFEI MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2014(Full Text)
Section IV. Financial Statement
I. Financial statement
1. Consolidated Balance Sheet
Prepared by Hefei Meiling Co., Ltd
In RMB
Items Balance at period-end Balance at period-begin
Current assets:
Monetary funds 2,229,987,221.64 2,266,192,804.16
Settlement provisions
Capital lent
Financial assets measured by fair
value and whose change is recorded in 519,200.00
current gains and losses
Notes receivable 2,026,108,961.42 1,722,039,923.01
Accounts receivable 1,147,193,509.04 855,264,087.13
Accounts paid in advance 75,532,422.66 73,636,908.88
Insurance receivable
Reinsurance receivables
Contract reserve of reinsurance
receivable
Interest receivable
Dividend receivable
Other receivables 21,630,251.87 20,115,619.72
Purchase restituted finance asset
Inventories 1,430,650,323.99 1,593,865,312.94
Divided into assets held ready for
sales
Non-current asset due within one
year
Other current assets
Total current assets 6,931,621,890.62 6,531,114,655.84
Non-current assets:
Granted loans and advances
Finance asset available for sales 5,500,000.00 6,500,000.00
27
HEFEI MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2014(Full Text)
Held-to-maturity investment
Long-term account receivable
Long-term equity investment 19,878,948.10 22,995,387.39
Investment property 15,094,941.15 15,701,377.73
Fixed assets 1,134,745,142.96 1,138,750,631.37
Construction in progress 96,181,887.15 52,514,642.10
Engineering material
Disposal of fixed asset 76,157,234.11 76,129,471.41
Productive biological asset
Oil and gas asset
Intangible assets 569,661,699.38 593,054,170.58
Expense on Research and
13,749,779.61 9,516,070.34
Development
Goodwill 5,313,913.50
Long-term expenses to be
apportioned
Deferred income tax asset 79,549,656.00 75,895,434.58
Other non-current asset
Total non-current asset 2,015,833,201.96 1,991,057,185.50
Total assets 8,947,455,092.58 8,522,171,841.34
Current liabilities:
Short-term loans 360,766,913.32 66,433,079.86
Loan from central bank
Absorbing deposit and interbank
deposit
Capital borrowed
Financial liability measured by fair
value and with variation reckoned into
current gains/losses
Notes payable 1,683,162,416.08 1,520,088,715.18
Accounts payable 1,453,111,307.43 1,692,121,242.19
Accounts received in advance 319,687,256.95 363,233,745.71
Selling financial asset of
repurchase
Commission charge and
commission payable
Wage payable 127,482,275.31 168,217,307.27
28
HEFEI MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2014(Full Text)
Taxes payable 33,701,352.30 -4,920,046.33
Interest payable
Dividend payable 2,237,640.91 1,782,087.76
Other accounts payable 1,115,212,093.49 914,983,315.18
Reinsurance payables
Insurance contract reserve
Security trading of agency
Security sales of agency
Divided into liability held ready
for sale
Non-current liabilities due within 1
11,122,579.10 119,256,114.30
year
Other current liabilities
Total current liabilities 5,106,483,834.89 4,841,195,561.12
Non-current liabilities:
Long-term loans 8,883,700.00 9,523,700.00
Bonds payable
Long-term account payable
Special accounts payable
Projected liabilities 350,116,189.58 356,648,942.74
Deferred income tax liabilities 127,799.85
Other non-current liabilities 101,578,690.20 107,073,628.76
Total non-current liabilities 460,706,379.63 473,246,271.50
Total liabilities 5,567,190,214.52 5,314,441,832.62
Owner’s equity (or shareholders’
equity):
Paid-in capital (or share capital) 763,739,205.00 763,739,205.00
Capital public reserve 1,474,015,986.37 1,478,904,455.90
Less: Inventory shares
Reasonable reserve
Surplus public reserve 337,902,735.75 337,902,735.75
Provision of general risk
Retained profit 802,116,974.29 608,723,517.81
Balance difference of foreign
-3,459,099.21 -1,939,397.56
currency translation
Total owner’s equity attributable to 3,374,315,802.20 3,187,330,516.90
29
HEFEI MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2014(Full Text)
parent company
Minority interests 5,949,075.86 20,399,491.82
Total owner’s equity(or shareholders’
3,380,264,878.06 3,207,730,008.72
equity)
Total liabilities and owner’s equity(or
8,947,455,092.58 8,522,171,841.34
shareholders’ equity)
Legal representative: Liu Tibin
Person in charge of accounting works: Zhang Xiaolong
Person in charge of accounting institution: Tang Bin
2. Balance Sheet of parent company
Prepared by Hefei Meiling Co., Ltd
In RMB
Item Balance at period-end Balance at period-begin
Current assets:
Monetary funds 1,743,129,291.93 2,001,187,367.05
Financial assets measured by fair
value and whose change is recorded in 519,200.00
current gains and losses
Notes receivable 1,351,722,120.11 1,295,619,890.23
Accounts receivable 759,538,420.16 782,391,484.40
Accounts paid in advance 167,762,622.51 130,573,509.64
Interest receivable
Dividend receivable
Other receivables 40,200,748.98 45,236,748.46
Inventories 743,071,803.73 599,275,043.05
Divided into assets held ready for
sales
Non-current asset due within one year
Other current assets
Total current assets 4,805,944,207.42 4,854,284,042.83
Non-current assets:
Finance asset available for sales 5,000,000.00 5,000,000.00
Held-to-maturity investment
Long-term account receivable
Long-term equity investment 832,488,920.01 791,879,895.59
Investment real estate 12,398,264.83 12,753,681.33
Fixed assets 795,166,429.75 825,467,943.47
Construction in progress 87,180,455.27 44,630,882.53
30
HEFEI MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2014(Full Text)
Engineering material
Disposal of fixed asset 43,352,418.01 43,307,418.01
Productive biological asset
Oil and gas asset
Intangible assets 436,804,868.32 444,942,445.00
Expense on Research and Development
Goodwill
Long-term expenses to be apportioned
Deferred income tax asset 72,626,542.23 69,171,492.26
Other non-current asset
Total non-current asset 2,285,017,898.42 2,237,153,758.19
Total assets 7,090,962,105.84 7,091,437,801.02
Current liabilities:
Short-term loans 275,539,604.44 25,340,889.00
Financial liability measured by fair
value and with variation reckoned into
current gains/losses
Notes payable 1,076,784,515.00 1,156,825,213.50
Accounts payable 1,006,087,966.78 1,100,326,742.67
Accounts received in advance 182,764,519.05 192,083,732.72
Wage payable 59,846,114.84 97,469,125.91
Taxes payable -74,077,271.96 -7,709,679.63
Interest payable
Dividend payable 2,237,640.91 1,767,979.23
Other accounts payable 813,201,842.63 743,651,849.94
Divided into liability held ready
for sale
Non-current liabilities due within 1 year 7,489,277.00 117,490,683.80
Other current liabilities
Total current liabilities 3,349,874,208.69 3,427,246,537.14
Non-current liabilities:
Long-term loans 8,883,700.00 9,523,700.00
Bonds payable
Long-term account payable
Special accounts payable
31
HEFEI MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2014(Full Text)
Projected liabilities 350,116,189.58 356,648,942.74
Deferred income tax liabilities 77,880.00
Other non-current liabilities 77,408,469.36 83,024,561.91
Total non-current liabilities 436,486,238.94 449,197,204.65
Total liabilities 3,786,360,447.63 3,876,443,741.79
Owner’s equity (or shareholders’
equity):
Paid-up capital (or share capital) 763,739,205.00 763,739,205.00
Capital public reserve 1,497,987,059.46 1,497,898,194.51
Less: Inventory shares
Reasonable reserve
Surplus public reserve 337,684,570.07 337,684,570.07
General risk reserve
Retained profit 705,190,823.68 615,672,089.65
Balance difference of foreign currency
translation
Total owner’s equity(or shareholders’
3,304,601,658.21 3,214,994,059.23
equity)
Total liabilities and owner’s equity(or
7,090,962,105.84 7,091,437,801.02
shareholders’ equity)
Legal representative: Liu Tibin
Person in charge of accounting works: Zhang Xiaolong
Person in charge of accounting institution: Tang Bin
3. Consolidated Profit Statement (this report period)
Prepared by Hefei Meiling Co., Ltd
In RMB
Item Amount in this period Amount in last period
I. Total operating income 2,441,249,157.46 2,559,189,440.77
Including: Operating income 2,441,249,157.46 2,559,189,440.77
Interest income
Insurance gained
Commission charge and commission
income
II. Total operating cost 2,361,091,843.34 2,498,411,836.87
Including: Operating cost 1,877,752,624.64 1,921,520,790.60
Interest expense
Commission charge and commission
expense
Cash surrender value
32
HEFEI MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2014(Full Text)
Net amount of expense of compensation
Net amount of withdrawal of insurance
contract reserve
Bonus expense of guarantee slip
Reinsurance expense
Operating tax and extras 20,964,799.06 29,914,674.46
Sales expenses 388,899,395.16 476,941,238.56
Administration expenses 111,943,441.95 103,158,201.97
Financial expenses -22,903,142.26 -25,355,276.32
Losses of devaluation of asset -15,565,275.21 -7,767,792.40
Add: Changing income of fair
519,200.00
value(Loss is listed with ―-‖)
Investment income (Loss is listed with
-2,398,304.89 -95,499.31
―-‖)
Including: Investment income on
-680,826.33 -139,164.37
affiliated company and joint venture
Exchange income (Loss is listed with
―-‖)
III. Operating profit (Loss is listed
78,278,209.23 60,682,104.59
with ―-‖)
Add: Non-operating income 6,317,326.37 19,250,730.17
Less: Non-operating expense 1,064,736.66 1,889,655.94
Including: Disposal loss of non-current
1,041,736.66 1,823,469.85
asset
IV. Total Profit (Loss is listed with
83,530,798.94 78,043,178.82
―-‖)
Less: Income tax expense 16,443,099.19 21,319,601.05
V. Net profit (Net loss is listed with ―-‖) 67,087,699.75 56,723,577.77
Including: net profit realized before
consolidation by mergered party
Net profit attributable to owner’s of
80,111,532.95 69,441,621.00
parent company
Minority shareholders’ gains and losses -13,023,833.20 -12,718,043.23
VI. Earnings per share -- --
i. Basic earnings per share 0.1049 0.0909
ii. Diluted earnings per share 0.1049 0.0909
VII. Other consolidated income -2,022,474.38 -1,135,962.85
Inc: Other comprehensive items un-able
to re-classify as gains/losses in later 88,864.95
accounting period
Other comprehensive items able
to re-classify as gains/losses in later -2,111,339.33 -1,135,962.85
accounting period while regulated
33
HEFEI MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2014(Full Text)
conditions are satisfy
VIII. Total comprehensive income 65,065,225.37 55,587,614.92
Total consolidated income attributable
78,089,058.57 68,760,043.29
to owners of parent company
Total consolidated income attributable
-13,023,833.20 -13,172,428.37
to minority shareholders
Legal representative: Liu Tibin
Person in charge of accounting works: Zhang Xiaolong
Person in charge of accounting institution: Tang Bin
4. Profit Statement of parent company (this report period)
Prepared by Hefei Meiling Co., Ltd
In RMB
Items Amount in this period Amount in last period
I. Operating income 1,406,719,083.14 1,540,604,775.06
Less: operating cost 1,181,399,527.97 1,302,612,196.20
Operating tax and extras 4,377,611.36 13,196,611.59
Sales expenses 106,141,503.38 142,924,357.58
Administration expenses 60,590,292.49 51,061,524.99
Financial expenses -21,328,540.42 -20,343,480.82
Losses of devaluation of asset -1,220,777.79 2,760,055.38
Add: Changing income of fair
519,200.00
value(Loss is listed with ―-‖)
Investment income (Loss is listed with
1,754,750.88 3,168,694.55
―-‖)
Including: Investment income on
79,689.49 142,594.45
affiliated company and joint venture
II. Operating profit (Loss is listed
79,033,417.03 51,562,204.69
with ―-‖)
Add: Non-operating income 3,380,437.80 11,884,547.11
Less: Non-operating expense 1,061,305.28 191,990.87
Including: Disposal loss of non-current
1,038,305.28 191,990.87
asset
III. Total Profit (Loss is listed with
81,352,549.55 63,254,760.93
―-‖)
Less: Income tax expense 11,765,491.50 9,366,683.42
IV. Net profit (Net loss is listed with
69,587,058.05 53,888,077.51
―-‖)
V. Earnings per share -- --
i. Basic earnings per share 0.0911 0.0706
ii. Diluted earnings per share 0.0911 0.0706
VI. Other consolidated income 88,864.95
Inc: Other comprehensive items un-able
to re-classify as gains/losses in later 88,864.95
accounting period
34
HEFEI MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2014(Full Text)
Other comprehensive items
able to re-classify as gains/losses in
later accounting period while regulated
conditions are satisfy
VII. Total comprehensive income 69,675,923.00 53,888,077.51
Legal representative: Liu Tibin
Person in charge of accounting works: Zhang Xiaolong
Person in charge of accounting institution: Tang Bin
5. Consolidated profit statement (year-begin to end of this period)
Prepared by Hefei Meiling Co., Ltd
In RMB
Item Amount in this period Amount in last period
I. Total operating income 8,785,638,209.63 8,510,634,016.09
Including: Operating income 8,785,638,209.63 8,510,634,016.09
Interest income
Insurance gained
Commission charge and commission
income
II. Total operating cost 8,524,489,865.94 8,288,241,624.77
Including: Operating cost 6,658,248,346.20 6,447,874,893.83
Interest expense
Commission charge and commission
expense
Cash surrender value
Net amount of expense of compensation
Net amount of withdrawal of insurance
contract reserve
Bonus expense of guarantee slip
Reinsurance expense
Operating tax and extras 66,615,799.33 88,458,009.30
Sales expenses 1,545,371,615.68 1,526,147,921.07
Administration expenses 306,490,897.12 273,112,363.51
Financial expenses -66,743,441.16 -61,596,202.21
Losses of devaluation of asset 14,506,648.77 14,244,639.27
Add: Changing income of fair
519,200.00
value(Loss is listed with ―-‖)
Investment income (Loss is listed with
-3,182,602.11 655,790.37
―-‖)
Including: Investment income on
-1,465,123.55 -732,404.61
affiliated company and joint venture
35
HEFEI MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2014(Full Text)
Exchange income (Loss is listed with
―-‖)
III. Operating profit (Loss is listed
258,484,941.58 223,048,181.69
with ―-‖)
Add: Non-operating income 26,715,233.53 28,267,868.84
Less: Non-operating expense 3,877,664.58 5,353,454.24
Including: Disposal loss of non-current
1,596,131.19 5,127,519.33
asset
IV. Total Profit (Loss is listed with
281,322,510.53 245,962,596.29
―-‖)
Less: Income tax expense 53,237,882.50 57,410,906.13
V. Net profit (Net loss is listed with ―-‖) 228,084,628.03 188,551,690.16
Including: net profit realized before
consolidation by mergered party
Net profit attributable to owner’s of
239,217,808.78 205,133,196.62
parent company
Minority shareholders’ gains and losses -11,133,180.75 -16,581,506.46
VI. Earnings per share -- --
i. Basic earnings per share 0.3132 0.2686
ii. Diluted earnings per share 0.3132 0.2686
VII. Other consolidated income -1,430,836.70 -1,135,962.85
Inc: Other comprehensive items un-able
to re-classify as gains/losses in later 88,864.95
accounting period
Other comprehensive items
able to re-classify as gains/losses in
-1,519,701.65 -1,135,962.85
later accounting period while regulated
conditions are satisfy
VIII. Total comprehensive income 226,653,791.33 187,415,727.31
Total consolidated income attributable
to owners of parent company
237,786,972.08 204,451,618.91
Total consolidated income attributable
to minority shareholders
-11,133,180.75 -17,035,891.60
Legal representative: Liu Tibin
Person in charge of accounting works: Zhang Xiaolong
Person in charge of accounting institution: Tang Bin
6. Profit Statement of parent company (year-begin to end of this period)
Prepared by Hefei Meiling Co., Ltd
In RMB
Items Amount in this period Amount in last period
I. Operating income 4,998,288,343.35 5,370,326,674.20
36
HEFEI MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2014(Full Text)
Less: operating cost 4,216,852,282.82 4,524,038,709.31
Operating tax and extras 23,716,964.02 49,418,069.92
Sales expenses 462,903,848.24 550,473,642.29
Administration expenses 153,809,199.59 129,986,596.14
Financial expenses -55,158,901.15 -51,631,229.81
Losses of devaluation of asset 40,908,797.89 5,315,086.63
Add: Changing income of fair
519,200.00
value(Loss is listed with ―-‖)
Investment income (Loss is listed with
1,659,630.18 4,453,856.39
―-‖)
Including: Investment income on
-15,431.21 353,998.99
affiliated company and joint venture
II. Operating profit (Loss is listed
157,434,982.12 167,179,656.11
with ―-‖)
Add: Non-operating income 20,283,748.28 17,661,051.57
Less: Non-operating expense 3,644,710.84 2,919,889.33
Including: Disposal loss of non-current
1,466,703.00 2,919,889.33
asset
III. Total Profit (Loss is listed with
174,074,019.56 181,920,818.35
―-‖)
Less: Income tax expense 38,730,933.23 29,500,870.49
IV. Net profit (Net loss is listed with
135,343,086.33 152,419,947.86
―-‖)
V. Earnings per share -- --
i. Basic earnings per share 0.1772 0.1996
ii. Diluted earnings per share 0.1772 0.1996
VI. Other consolidated income 88,864.95
Inc: Other comprehensive items un-able
to re-classify as gains/losses in later 88,864.95
accounting period
Other comprehensive items
able to re-classify as gains/losses in
later accounting period while regulated
conditions are satisfy
VII. Total comprehensive income 135,431,951.28 152,419,947.86
Legal representative: Liu Tibin
Person in charge of accounting works: Zhang Xiaolong
Person in charge of accounting institution: Tang Bin
7. Consolidated Cash Flow Statement (year-begin to end of this period)
Prepared by Hefei Meiling Co., Ltd
In RMB
Item Amount in this period Amount in last period
37
HEFEI MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2014(Full Text)
I. Cash flows arising from operating
activities:
Cash received from selling commodities
5,661,182,032.06 5,299,131,034.59
and providing labor 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
Net increase of insured savings and
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 75,985,996.85 73,488,620.82
Other cash received concerning
27,382,231.39 86,775,073.57
operating activities
Subtotal of cash inflow arising from
5,764,550,260.30 5,459,394,728.98
operating activities
Cash paid for purchasing commodities
4,410,540,747.94 3,933,972,150.59
and receiving labor 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 626,401,987.79 545,480,178.09
Taxes paid 322,955,088.33 461,939,182.35
Other cash paid concerning operating
598,862,694.58 631,130,042.54
activities
Subtotal of cash outflow arising from
5,958,760,518.64 5,572,521,553.57
operating activities
Net cash flows arising from operating
-194,210,258.34 -113,126,824.59
activities
II. Cash flows arising from investing
activities:
Cash received from recovering
676,076.88 720,000.00
investment
Cash received from investment income 2,150,605.76 1,729,002.25
Net cash received from disposal of
fixed, intangible and other long-term 41,316,035.71 18,269,532.35
assets
Net cash received from disposal of
subsidiaries and other units
Other cash received concerning
75,688,576.33 43,682,448.19
investing activities
38
HEFEI MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2014(Full Text)
Subtotal of cash inflow from investing
119,831,294.68 64,400,982.79
activities
Cash paid for purchasing fixed,
66,984,816.97 61,005,364.72
intangible and other long-term assets
Cash paid for investment 1,217,812.00 2,011,142.68
Net increase of mortgaged loans
Net cash received from subsidiaries and
other units
Other cash paid concerning investing
activities
Subtotal of cash outflow from investing
68,202,628.97 63,016,507.40
activities
Net cash flows arising from investing
51,628,665.71 1,384,475.39
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 1,322,865,410.42 526,937,824.68
Cash received from issuing bonds
Other cash received concerning
88,864.95
financing activities
Subtotal of cash inflow from financing
1,322,954,275.37 526,937,824.68
activities
Cash paid for settling debts 1,146,752,483.72 118,788,409.39
Cash paid for dividend and profit
60,590,588.42 41,946,233.84
distributing or interest paying
Including: Dividend and profit of
minority shareholder paid by
subsidiaries
Other cash paid concerning financing
3,068,420.75 77,487.63
activities
Subtotal of cash outflow from financing
1,210,411,492.89 160,812,130.86
activities
Net cash flows arising from financing
112,542,782.48 366,125,693.82
activities
IV. Influence on cash and cash
equivalents due to fluctuation in 6,852,120.57 13,377,740.60
exchange rate
V. Net increase of cash and cash
-23,186,689.58 267,761,085.22
equivalents
Add: Balance of cash and cash
2,238,884,137.50 1,701,307,578.13
equivalents at the period -begin
VI. Balance of cash and cash
2,215,697,447.92 1,969,068,663.35
equivalents at the period -end
Legal representative: Liu Tibin
Person in charge of accounting works: Zhang Xiaolong
Person in charge of accounting institution: Tang Bin
8. Cash Flow Statement of parent company (year-begin to end of this period)
Prepared by Hefei Meiling Co., Ltd
In RMB
Item Amount in this period Amount in last period
39
HEFEI MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2014(Full Text)
I. Cash flows arising from operating
activities:
Cash received from selling commodities
3,289,895,343.34 3,536,958,646.65
and providing labor services
Write-back of tax received 34,967,339.65 27,035,146.34
Other cash received concerning
3,590,403.68 75,353,695.42
operating activities
Subtotal of cash inflow arising from
3,328,453,086.67 3,639,347,488.41
operating activities
Cash paid for purchasing commodities
3,106,443,257.32 2,984,643,571.24
and receiving labor service
Cash paid to/for staff and workers 218,123,897.75 238,396,461.18
Taxes paid 113,834,004.67 178,135,868.02
Other cash paid concerning operating
252,580,757.65 161,208,698.58
activities
Subtotal of cash outflow arising from
3,690,981,917.39 3,562,384,599.02
operating activities
Net cash flows arising from operating
-362,528,830.72 76,962,889.39
activities
II. Cash flows arising from investing
activities:
Cash received from recovering
45,000,000.00
investment
Cash received from investment income 2,000,605.76 4,616,453.40
Net cash received from disposal of
fixed, intangible and other long-term 961,417.31 18,171,710.60
assets
Net cash received from disposal of
subsidiaries and other units
Other cash received concerning
69,008,126.56 36,877,696.25
investing activities
Subtotal of cash inflow from investing
71,970,149.63 104,665,860.25
activities
Cash paid for purchasing fixed,
44,602,433.46 44,250,114.04
intangible and other long-term assets
Cash paid for investment 40,950,000.00
Net cash received from subsidiaries and
other units
Other cash paid concerning investing
activities
Subtotal of cash outflow from investing
85,552,433.46 44,250,114.04
activities
Net cash flows arising from investing
-13,582,283.83 60,415,746.21
activities
III. Cash flows arising from financing
activities
Cash received from absorbing
investment
Cash received from loans 1,131,724,576.65 452,929,528.78
Cash received from issuing bonds
Other cash received concerning
45,690,154.62 63,251,961.78
financing activities
Subtotal of cash inflow from financing
1,177,414,731.27 516,181,490.56
activities
Cash paid for settling debts 999,105,583.72 34,205,440.00
Cash paid for dividend and profit
58,149,356.51 41,550,181.93
distributing or interest paying
40
HEFEI MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2014(Full Text)
Other cash paid concerning financing
4,453,408.40 1,609,572.38
activities
Subtotal of cash outflow from financing
1,061,708,348.63 77,365,194.31
activities
Net cash flows arising from financing
115,706,382.64 438,816,296.25
activities
IV. Influence on cash and cash
equivalents due to fluctuation in 5,345,392.94 10,047,569.17
exchange rate
V. Net increase of cash and cash
-255,059,338.97 586,242,501.02
equivalents
Add: Balance of cash and cash
1,996,577,625.49 1,235,992,818.90
equivalents at the period -begin
VI. Balance of cash and cash
1,741,518,286.52 1,822,235,319.92
equivalents at the period -end
Legal representative: Liu Tibin
Person in charge of accounting works: Zhang Xiaolong
Person in charge of accounting institution: Tang Bin
II. Audit Report
Whether the third quarter report was audited or not
□Yes √No
Hefei Meiling Co., Ltd.
Chairman: Liu Tibin
18 October 2014
41
