Hefei Meiling Co., Ltd.The First Quarterly Report of 2015
Hefei Meiling Co., Ltd.
The First Quarterly Report of 2015
April 2015
1
Hefei Meiling Co., Ltd.The First Quarterly Report of 2015
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. Zhang Xiaolong,
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 2015 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 of 2015
Section II. Main financial data and changes of shareholders
I. Main accounting data and financial indexes
Whether it has retroactive adjustment or re-statement on previous accounting data for accounting policy changed
and accounting error correction or not
□Yes √ No
Changes of this period over
This Period Same period of last year
same period of last year
Operating income (RMB) 2,690,420,998.10 2,613,087,698.42 2.96%
Net profit attributable to shareholders of
54,960,953.89 49,511,487.82 11.01%
the listed company(RMB)
Net profit attributable to shareholders of
the listed company after deducting 54,838,638.93 44,259,236.75 23.90%
non-recurring gains and losses(RMB)
Net cash flow arising from operating
-126,760,952.62 -308,282,102.97 58.88%
activities(RMB)
Basic earnings per share (RMB/Share) 0.0720 0.0648 11.01%
Diluted earnings per share (RMB/Share) 0.0720 0.0648 11.01%
Weighted average ROE 1.59% 1.54% 0.05%
Changes of this period-end
End of this period End of last period over same period-end of last
year
Total assets (RMB) 9,946,292,775.04 9,009,014,201.70 10.40%
Net assets attributable to shareholder of
3,476,300,439.44 3,422,746,664.67 1.56%
listed company (RMB)
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
763,739,205
disclosure (Share)
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 quarterly report
disclosed or not
□Yes √ No
Items of non-recurring gains and losses
√ Applicable □ Not applicable
In RMB
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Hefei Meiling Co., Ltd.The First Quarterly Report of 2015
Amount from year-begin to
Item Note
period-end
Gains/losses from the disposal of non-current asset (including the
-5,670,922.09 ——
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
4,881,703.55 ——
national standards, which are closely relevant to enterprise’s
business)
Held transaction financial asset, gains/losses of changes of fair
values from transaction financial liabilities, and investment gains
from disposal of transaction financial asset, transaction financial
81,770.00 ——
liabilities and financial asset available for sales, exclude the
effective hedging business relevant with normal operations of the
Company
Other non-operating income and expenditure except for the
640,688.49 ——
aforementioned items
Less : impact on income tax -214,745.81 ——
Impact on minority shareholders’ equity (post-tax) 25,670.80 ——
Total 122,314.96 --
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
II. Total number of shareholders at the end of this report period and top ten shareholders
1. Total number of common shareholders at the end of this report period and top ten common shareholders
In shares
Total number of common shareholders
56,430
at the end of report period
Top ten common shareholders
Number of share
Amount of
Proportion Amount of pledged/frozen
Shareholder’s name Nature of shareholder of shares restricted shares
held shares held State of
held Amount
share
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Hefei Meiling Co., Ltd.The First Quarterly Report of 2015
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
Changhong Electric (Hong Kong)
Foreign legal person 3.30% 25,165,823 0 - -
Trading Co., Ltd.
Domestic
Zhengde life insurance Co.,
non-state-owned legal 3.15% 24,021,690 0 - -
LTD-universal insurance products
person
CAO SHENGCHUN Foreign natural person 1.73% 13,215,556 0 - -
Ma Guofeng Domestic natural person 1.12% 8,528,670 0 - -
GUOTAI JUNAN
Foreign legal person 0.96% 7,339,666 0 - -
SECURITIES(HONGKONG) LIMITED
DEUTSCHE BANK
Foreign legal person 0.94% 7,182,009 0 - -
AKTIENGESELLSCHAFT
DRAGON BILLION CHINA MASTER
Foreign legal person 0.698% 5,329,489 0 - -
FUND
UBS AG Foreign legal person 0.613% 4,682,450 0 - -
Top ten common shareholders with unrestricted shares held
Amount of unrestricted Type of shares
Shareholder’s name
shares held Type Amount
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
Domestically listed foreign
Changhong Electric (Hong Kong) Trading Co., Ltd. 25,165,823 25,165,823
shares
Zhengde life insurance Co., LTD-universal insurance
24,021,690 RMB ordinary shares 24,021,690
products
Domestically listed foreign
CAO SHENGCHUN 13,215,556 13,215,556
shares
Ma Guofeng 8,528,670 RMB ordinary shares 8,528,670
Domestically listed foreign
GUOTAI JUNAN SECURITIES(HONGKONG) LIMITED 7,339,666 7,339,666
shares
DEUTSCHE BANK AKTIENGESELLSCHAFT 7,182,009 RMB ordinary shares 7,182,009
Domestically listed foreign
DRAGON BILLION CHINA MASTER FUND 5,329,489 5,329,489
shares
UBS AG 4,682,450 RMB ordinary shares 4,682,450
Among the above shareholders, Changhong (Hong Kong) Trade Co.,
Explanation on associated relationship among the aforesaid
Ltd. is the wholly-owned subsidiary of Sichuan Changhong Electronic
shareholders
Co., Ltd.; there existed no associated relationship or belong to the
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Hefei Meiling Co., Ltd.The First Quarterly Report of 2015
concerted actors as specified in the Measures for the Administration of
Information Disclosure of Shareholder Equity Changes of Listed
Companies among Sichuan Changhong Electronic Co., Ltd., Changhong
(Hong Kong) Trade Co., Ltd. and other top 8 shareholders; and top ten
shareholders with unrestricted subscription; as the Company has not
known whether there exists any business relationship among the other
shareholders with unrestricted subscription or they belong to the
concerted actors as specified in the Measures for the Administration of
Information Disclosure of Shareholder Equity Changes of Listed
Companies.
Up to 31st of March 2015, among the top 10 common stockholders,
shareholder Ma Guofeng holds 8,497,170 shares of the Company
Explanation on top ten common shareholders involving through guarantee of securities credit transaction account under the name
margin business (if applicable) of Guodu Securities Co., Ltd., and holds 31,500 shares of the Company
through his common security account, totally 8,528,670 shares of the
Company are held by Ma Guofeng.
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
The top ten common shareholders or top ten common shareholders with un-restrict shares held of the Company have no buy-back
agreement dealing in reporting period.
2. Total shareholders with preferred stock held at Period-end and shares held by top ten shareholders with
preferred stock held
□ Applicable √ Not applicable
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Hefei Meiling Co., Ltd.The First Quarterly Report of 2015
Section III. Significant Events
I. Particulars about material changes in items of main accounting statement and financial
index and explanations of reasons
√ Applicable □Not applicable
1. Changes and reasons of items in balance sheet
In RMB
Balance at Balance at Changes
Item Reasons of changes
period-end year-begin ratio
Financial assets measured by
fair value and whose change Fair value change for the forward foreign
13,400.00 - 100.00%
is recorded in current gains exchange that carried out in the Period
and losses
Returned money for the notes are increased
Notes receivable 1,717,083,832.88 1,223,468,044.05 40.35%
in the Period
The accrued interest for the time deposit are
Interest receivable 292,798.67 - 100.00% recognized by subsidiary, and no such item in
last year
Long-term investment in The Company increased investment in
50,290,508.04 14,211,004.21 253.88%
equity associated company in the Period.
The subsidiary Zhongshan Changhong newly
Other non-current assets 41,828,382.00 - 100.0%
added fixed deposit in the Period.
Short-term loans from parent company
Short-term loans 784,563,968.16 407,508,739.07 92.53%
increased in the Period
Financial liabilities measured
Same as” Financial assets measured by fair
by fair value and whose
12,800.00 81,170.00 -84.23% value and whose change is recorded in
change is recorded in current
current gains and losses”
gains and losses
Payable taxes 90,873,668.42 51,153,350.18 77.65% Sales in the Period increased
Long-term loans of subsidiary Zhongshan
Long-term loans 49,232,952.80 18,947,000.00 159.85%
Changhong increased in the period.
2. Changes and reasons of items in profit statement
In RMB
Amount at this Amount at same Changes
Item Reasons of changes
period period of last year ratio
Changing income of fair Same as” Financial assets measured by
value(Loss is listed with 81,770.00 - 100.00% fair value and whose change is recorded
“-”) in current gains and losses”
Investment income(loss is Loss amount from associated enterprise
171,415.10 -103,003.19 266.42%
listed with “-“) increased year-on-year
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Hefei Meiling Co., Ltd.The First Quarterly Report of 2015
Income from investment
for associated enterprise 171,415.10 -103,003.19 266.42% Same as “Investment income”
and joint venture
Disposal of fixed assets increased y-o-y
Non-operation expenditure 6,174,911.26 188,790.42 3170.78%
in the period.
Loss from disposal of
5,685,698.09 174,619.08 3156.06% Same as “non-operation expenditure”
non-current assets
Taxable income tax from parent company
Income tax expenses 9,522,918.59 5,988,153.23 59.03%
increased y-o-y in the Period
Due to the loss of some subsidiaries in
Minority interest -4,314,838.92 1,636,267.61 -363.70%
the period.
3. Changes and reasons of items in cash flow statement
In RMB
Amount at this Amount at same Changes
Item Reasons of changes
period period of last year ratio
Export rebates of subsidiary received in the Period
Tax refunds received 54,031,690.80 38,022,269.44 42.11%
growth year-on-year
Mainly because the remove loss arising from early
Net cash received from release of “House Lease Contract” was paid to
disposal of fixed Mianyang Meiling Refrigeration by Sichuan
assets, intangible 1,234,432.00 40,729,958.40 -96.97%
Changhong Minsheng Logistics and the
assets and other
compensation received due to early termination
long-term assets
option in the same period of last year while no
such amount occurred in the Period.
Cash received related
with other investment 17,219,641.80 12,044,788.48 42.96% Interest income increased y-o-y in the period.
activities
Cash paid for
purchasing fixed, Amount for fixed assets paid in the Period
36,881,430.75 27,741,973.71 32.94%
intangible and other increased y-o-y
long-term assets
Cash paid for
36,149,974.00 1,097,787.00 3192.99% Same as “long-term investment in equity”.
investment
Cash paid for debt Mainly because short-term loans of the parent
381,572,057.56 95,834,477.54 298.16%
settlement company paid increased y-o-y in the period.
Cash paid for
dividend/profit The loans interest paid by parent company in the
3,958,191.54 1,963,928.25 101.54%
distribution or interest Period increased y-o-y
expenses
Cash paid related with - 2,973,468.35 -100.00% Minority equity from part of the subsidiary
8
Hefei Meiling Co., Ltd.The First Quarterly Report of 2015
other financing decreased at same period last year while no such
activities item in the Period
Impact on cash and
cash equivalent from Exchange rate of foreign currency changed in the
7,204,996.05 1,286,792.08 459.92%
exchange rate Period
movement
II. Analysis and explanation of significant events and their influence and solutions
√ Applicable □Not applicable
(I) 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).
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 deliberated and approved by the Board, the
supervisory committee and general meeting, 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 31 March 2015.
Ended as 31st March 2015, accumulated amount of RMB 879,419,564 were actually used for the raised fund
projects, balance in specific raised funds accounting to RMB 52,617,656 (including RMB 3586058, not
withdrawal for current capital supplementation permanently and the unpaid contract amount and qualify assurance
fund RMB 49,031,598 in total). More details are as:
Athena luxury refrigerator production base: total investment accounting to RMB 528,508,417 after surplus
deducted. The project accumulated invested RMB 503,396,607 up to 31st March 2015; balance in raised fund
account was RMB 27,173,419, including RMB 25,111,864 ready for contract payment and quality assurance fund,
and RMB 2,061,627 undrawn for supplement current capital of the Company.
Freezer capacity expansion project: total investment accounting to RMB 251,883,547 after surplus deducted.
The project accumulated invested RMB 227,963,813 up to 31st March 2015; balance in raised fund account was
RMB 25,444,165, including RMB 23,919,734 ready for contract payment and quality assurance fund, and RMB
1,524,431 undrawn for supplement current capital of the Company.
(II) Transaction with Changhong Finance Co., Ltd
Being decision by the Board and General Meeting, agreed the Company entered into 3-year term “Agreement
on Financial Services” with the Sichuan Changhong Finance Co., Ltd. (hereinafter referred to as the Changhong
Finance Company). In business scope of the Changhong Finance Company, providing a serial financial service as
savings and loans required by the Company and its subordinate subsidiaries according to the Agreement; the
related transactions with Changhong Finance from year-beginning to end of the Period are as:
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Hefei Meiling Co., Ltd.The First Quarterly Report of 2015
Interest, handling
Increased during Decreased during
Item Opening balance Ending balance charge paid or
the Year the Year
received
I. Savings in Changhong
1,040,209,426.68 2,099,228,353.70 2,406,062,747.25 733,375,033.13 5,542,877.51
Group Finance Company
II. Borrowings from
Changhong Group Finance - - - - -
Company
1.Short-term loans - - - - -
2.Long-term loans - - - - -
III. Other financial business - - - - -
1.notes drawing 258,631,647.68 216,341,555.90 199,373,238.97 275,599,964.61 -
2.notes discounted 210,940,218.46 250,553,358.38 130,456,267.49 331,037,309.35 -
3. other - - - - -
(III)Overview of other significant events
Date for Information index for
Overview
disclosure temporary report disclosure
On 6th of March 2015, the Company received a “Notice” from the second-largest
shareholder—Hefei Xingtai Holding Co., Ltd. (“Xingtai Holding” for short), in
accordance with the integral deployment of Hefei state-owned enterprise reform,
adjusted the state-owned capital operation institutes in Hefei, that is, plans to transfer Juchao Website:
the 49,477,513 shares of the Company held by Xingtai Holding to the 2015-3-7 http://www.cninfo.com.cn
plans-to-established Hefei Industrial Investment Holding (Group) Co., Ltd. for free. ( No.: 2015-001)
The Company will continue to follow the progress of the above mentioned event, and
perform information disclosure duties timely in line with the relevant laws and
regulations.
Concerning the “Meiling” kitchen ventilator manufactured by Zhongshan Branch of
Hefei Meiling Small Appliances Co., Ltd., quality of the products are unqualified in
the State supervisory sampling inspection of product quality, which was reported in
the CCTV’s “3.15” evening party, The Company pay high attention to the reports and
timely verify and released the “Clarification Announcement on “Meiling” kitchen
ventilator unqualified in sampling inspection reported by CCTV’s “3.15” evening Juchao Website:
party” in appointed media for information disclosed, main contents are: Hefei 2015-3-16 http://www.cninfo.com.cn
Meiling Small Appliances Co., Ltd. and its Zhongshan Branch are not the ( No.: 2015-002)
subordinate subsidiary of the Company and have no any assets and equity
relationship with the Company as well as the operation management connect; the
Company has instructed Meiling Group to, from now on, remove the “Right to Use a
Trademark License” that signed with Small Appliances Company; and required
Small Appliances Company seal up for the unqualified products and returned to the
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Hefei Meiling Co., Ltd.The First Quarterly Report of 2015
factory for repair, process return for those unqualified products that sold out or repair
free of charge etc.
Being deliberated and approved by 6th meeting of 8th session of the Board held on
24th March 2015, agreed the Zhongke Meiling invested approximately RMB Juchao Website:
156321900 for the relocation expansion project; after project completes, Zhongke 2015-3-26 http://www.cninfo.com.cn
Meiling will equipped with the production capacity of 26000 cryogenic refrigerators ( No.: 2015-003)
annually.
Being deliberated and approved by 6th meeting of 8th session of the Board held on
Juchao Website:
24th March 2015, agreed to engaged Mr. Wu Dinggang as the deputy Chairman of the
2015-3-26 http://www.cninfo.com.cn
Company, Mr. Zhang Xiaolong as the deputy Chairman and finance manager of the
( No.: 2015-003)
Company.
In view of the serial accounting standards that revised and issued successively by
Ministry of Finance in 2014, required to relevant regulations from the Ministry of
Juchao Website:
Finance, being deliberated and approved by the 6th meeting of 8th session of the
2015-3-26, http://www.cninfo.com.cn
Board and Annual General Meeting of 2014 held respectively dated 24th March 2015
2015-4-18 ( No.: 2015-003, No.:
and 17th April 2015, agreed to carried out new accounting standards for business
2015-008, No.: 2015-015)
enterprises in line with relevant regulations and requirements, corresponding
accounting policy shall be changed.
In accordance with the “Implementation of the Annual Performance Incentive Fund
Plan” (“Incentive Plan” for short) and audited financial report of the 2014 and
operation conditions, the Company qualified awarded condition of the incentive plan Juchao Website:
th th
for year of 2014, being deliberated and approved by the 6 meeting of 8 session of http://www.cninfo.com.cn
2015-3-26,
th th
the Board the 4 meeting of 8 board of supervisors and Annual General Meeting of ( No.: 2015-003, No.:
th th 2015-4-18
2014 held respectively dated 24 March 2015 and 17 April 2015, agreed to 2015-004, No.: 2015-009, No.:
withdraw RMB 32,186,723.32 incentive funds from 10 percent of the net profit for 2015-015)
year of 2014 audited, and reckoned into current gains/losses in line with relevant
accounting policies rules.
Being deliberated and approved by the 6th meeting of 8th session of the Board and
Juchao Website:
Annual General Meeting of 2014 held respectively dated 24th March 2015 and 17th
2015-3-26, http://www.cninfo.com.cn
April 2015, agreed to carried out he forward exchange transaction from 1 st January
2015-4-18 ( No.: 2015-003, No.:
2015 to 30th June 2016 with balance of the business up to US$ 350 million, delivery
2015-010, No.: 2015-015)
terms for single business not longer than 2 years.
Being deliberated and approved by the 6th meeting of 8th session of the Board and
Annual General Meeting of 2014 held respectively dated 24th March 2015 and 17th Juchao Website:
April 2015, on the premise of guarantee routine operation capital needs and 2015-3-26, http://www.cninfo.com.cn
investment risk control efficiently, agreed to invested for the preservation floating 2015-4-18 ( No.: 2015-003, No.:
proceeds financing products with self-owned idle fund up to RMB one billion(the 2015-011, No.: 2015-015)
limit can scroll to use), for one-year term.
III. Commitments from the Company or shareholder with over 5% share held in reporting
period or continues to reporting period
√ Applicable □Not applicable
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Hefei Meiling Co., Ltd.The First Quarterly Report of 2015
Item of Implement
Promisee Content of commitments Date Term
Commitments ation
1. The acquirer shall not engage in refrigerator business or activity which
Strictly
competes or will compete with business of HEFEI MEILING CO., LTD
Valid for long term implement
(hereinafter referred to as the “Meiling Electrical”), or that which has interest
ed
conflict with Meiling Electrical Appliances.
Sichuan
2. The acquirer promises to apply shareholders’ right on a legal and reasonable Strictly
Changhong
Commitments Promise and guarantee of manner and shall not take any action to limit or affect the normal operation of Valid for long term implement
Electric Co.,
made in horizontal competition Meiling Electrical Appliances. ed
LTD
acquisition report avoidance made in
3. For any opportunity to engage in competing business, the acquirer will 2007-6-12
(hereinafter
or equity change “Acquisition Report of advise Meiling Electrical Appliances in written for engaging such business or
referred to as
report Hefei Meiling Co., Ltd” not. If Meiling Electrical Appliances gives no clear written reply as to whether
the “Sichuan
Strictly
Changhong”) engaging the competing business or not within 20 days after receipt of the
Valid for long term implement
aforesaid letter, it shall be deemed that it will not engage in such business. The
ed
acquirer will only engage in non-competing 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 with or has
interest conflict with that of Meiling Electrical Appliances except for the
action taken for sake of Meiling Electrical Appliances as required by Meiling
Commitment regarding Electrical Appliances.
Commitment to reducing and Strictly
Sichuan 2. The Company promises to apply shareholders’ right on a legal and
made during the preventing competition 2010-6-24 Valid for long term implement
Changhong reasonable manner and shall not take any action to limit or affect the normal
non-public offer with Meiling Electrical ed
operation of Meiling Electrical Appliances.
Appliances
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
12
Hefei Meiling Co., Ltd.The First Quarterly Report of 2015
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
to reducing and standards. Strictly
standardizing related 2010-6-24 Valid for long term implement
2. Perform the necessary obligations to make related directors and related
transaction with Meiling ed
shareholder abstain from voting according to relevant regulation, and observe
Electrical Appliances
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.
Commit to authorized Changhong Air Conditioning and Zhongshan Air Conditioning Co., Ltd. Strictly
(hereinafter referred to as the “Zhongshan Changhong”) to use “Changhong” trademark and relevant 2010-11-6 Valid for long term implement
patents for free. ed
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.
Strictly
2. Commit to make public clarification in respect of such information that is released from any public
The Company 2011-1-7 Valid for long term implement
media and may result in misleading influences on stock price once the Company is aware of such
ed
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
13
Hefei Meiling Co., Ltd.The First Quarterly Report of 2015
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.
1. Since the property transfer didn’t involve the buildings and land currently used by Changhong Air Strictly
Conditioning, Sichuan Changhong commits, upon the completion of equity transfer, to continue to lease Valid for long term implement
such assets to Changhong Air Conditioning at market price; ed
Commitment
2. After completion of this property transfer, Sichuan Changhong commits to manage to prevent new
made in transfer
Sichuan related transaction with Meiling Electrical Appliances. For those which can not be prevented, Sichuan
of air 2009-12-10
Changhong Changhong commits to determine the transaction price based on market accepted methods, so as to Strictly
conditioning
ensure fairness of related transaction and protection of the interest of Meiling Electrical Appliances. Valid for long term implement
assets property
3. Sichuan Changhong commits that it will not engage in air conditioning and refrigerator business or ed
activity which competes or will compete with business of Meiling Electrical Appliances, or that which
has interest conflict with Meiling Electrical Appliances.
1. Make promise not to reduce the shares of Meiling bought in every year during implementation of the
Commitments by Three years after
performance incentive fund via any market ways in the later first year, which was allowed to be reduced 2013-8-15, Implementi
Annual Some of the current shares
by 50% according to the laws and regulations in the second year, and the remaining 50% was allowed to 2014-7-3 ng
performance Directors, purchased
be reduced in the third year in accordance with the laws and regulations.
incentive fund, supervisors and
2. The directors, supervisors and senior management promised to manage in accordance with the relevant From the date when
incentive objects senior
management approaches in accordance with the "Company Law", "Securities Law" and "The Company’s annual incentive fund
while purchasing executives of
shares held by the directors, supervisors and senior management of the listed company and its change plan deliberated and
stock of the the Company
management rules", as objects of annual performance incentive fund of Meiling, including but not limited 2013-8-15, approved by general Implementi
Company with as well as other
to: during his tenure, the shares transferred each year shall not exceed 25% of the total number of shares 2014-7-3 meeting to 6 moths ng
performance incentive
held of the Company; shall not sell the shares of the Company within six months after bought it or after director,
incentive funds objects
purchase again six months after sold it; shall not transfer the shares held within six months after supervisor and senior
and owned fund
Dismission. executives resigned
Perform the commitment
√ Yes □ No
promptly or not
14
Hefei Meiling Co., Ltd.The First Quarterly Report of 2015
Specific reason
For non-performance and the Not applicable
next plan
15
Hefei Meiling Co., Ltd.The First Quarterly Report of 2015
IV. Forecast of operation performance from Jan. – June of 2015
Estimation on 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 on reason
□ Applicable √ Not applicable
V. Securities Investment
□ Applicable √ Not applicable
No security investment in Period.
VI. Explanation on equity of other listed company held
√ Applicable □Not applicable
Proportion Proportion
Shares held Gains/losse
Shares held at of shares of shares Book value at
Initial investment at s in report Accountin
Name Type period-begin held at held at period-end Resources
capital (RMB) period-end period g items
(Share) period-beg period-end (RMB)
(Share) (RMB)
in (%) (%)
Available
Huishang
Commerci for sale Initial
Bank Co., 5,000,000.00 10,737,573 0.0972% 10,737,573 0.0972% 5,000,000.00 0
al bank financial investment
Ltd.
assets
Total 5,000,000.00 10,737,573 -- 10,737,573 -- 5,000,000.00 0 -- --
VII. Derivative investment
√ Applicable □Not applicable
In 10 thousand Yuan
Ratio of
Amount of investment
reserve for amount at
Whether Investment devaluatio period-end
Related Investment Actual
related Initial amount at n of in net
Operator relationshi Type amount at gains/losses
trade or investment Start date End date period-begi withdrawi assets of
p period-end in period
not n ng (if the
applicable Company
) at
period-end
Forward
Financial
N/A No foreign 5,019.93 2014-7-1 2015-12-31 13,319.13 N/A 13,319.13 3.83% 8.177
institution
exchange
16
Hefei Meiling Co., Ltd.The First Quarterly Report of 2015
contract
Total 5,019.93 -- -- 13,319.13 —— 13,319.13 3.83% 8.177
Capital resource(if applicable) Self-owned capital
Lawsuit involved (if applicable) Not applicable
Disclosure date for approval from the Board
2014-4-19
for investment of derivatives (if applicable)
Disclosure date for approval from board of
shareholders for investment of derivatives (if 2014-6-6
applicable)
Risk analysis:
1. Market risk: domestic and international economic situation changes may lead to exchange rate
fluctuations, forward foreign exchange transactions are under certain market risk. Forward foreign
exchange business is aiming to reducing impact on corporate profits by foreign exchange
settlement and sale prices, exchange rate fluctuations. The Company will follow up the exchange
fluctuation, on the basis of target rate determined from the business, relying on the research of the
foreign currency exchange rates, combined with prediction of consignments, and burdening ability
to price variations due to exchange rate fluctuations, then determine the plan of forward foreign
exchange contracts, and make dynamic management to the business, to ensure reasonable profit
level.
2. Liquidity risk: all foreign exchange transactions are based on a reasonable estimate of the future
import and export business, to meet the requirements of the trade authenticity. In addition, forward
foreign exchange transactions are processed with bank credit, will not affect liquidity of company
funds.
3. Bank default risk: if cooperative banks collapse within the contract time, the Company will not
Risk analysis and controlling measures for be able to transact the original foreign exchange contracts with contract price, which leads the risk
derivatives holdings in the Period (including of income uncertainty. Therefore, the Company chose five nationalized banks, Chinese-funded
but not limited to market risk, liquidity risk, bank as Everbright Bank and CITIC, and part of the larger foreign Banks to conduct the trading of
credit risks, operation risk and law risks etc.) foreign exchange capital. These banks share a solid strength and management whose failure and
the risk of loss may bring to the Company is very low.
4. Operational risk: improper operation of the person in charge of forward foreign exchange
transactions may cause related risk also. The Company has formulated related management system
which defines the operation process and responsibility to prevent and control risks.
5. The legal risks: unclear terms based in contract signed with banks for related transactions may
lead legal risks when forward foreign exchange transactions are processing. The Company will
strengthen legal review, and choose good bank to carry out this kind of business as to risk control.
Control measures: The Company formulated a “Management System of Forward Foreign
Exchange Trading” in 2014, business of the forward foreign exchange shall follow the principle of
legitimacy, prudence, safety and effective-ness, and did not carried out the foreign exchange purely
on profitability. All business with forward foreign exchange concerned is based with the normal
operation and rely on specific operation business and aims at avoiding and preventing the FX risk.
The system clearly defines the main types of forward foreign exchange trading business, operating
principle, approval authority, management and internal operation process, etc., and raise request to
the information isolation measures, internal risk system and risk treatment process, as well as
17
Hefei Meiling Co., Ltd.The First Quarterly Report of 2015
information disclosure; the system is benefit a lot in strengthening the management of forward
foreign exchange trading, prevent investment risks, perfected and improve the management
mechanism in aspect of forward foreign exchange business and ensure the security of the assets.
The Company determines fair value in accordance with the Chapter VII “Determination of Fair
Value” carried in the Accounting Standards for Business Enterprises No.22 - Recognition and
Invested derivative products have changes in
Measurement of Financial Instruments. Fair-value is basically obtained according to prices offered
market price or fair value in the Period, as for
by bank and other pricing services. While fair-value of derivatives is mainly obtained according to
analysis of the fair value of derivatives,
the balance between prices given by outstanding contracts and forward prices given by contracts
disclosed specific applied methods and
signed during the reporting period with bank. The differences are identified as trading financial
correlation assumption and parameter setting
assets and liabilities. During the reporting period, forward foreign exchange contracts and losses of
the Company is RMB 81,770.
Specific principle of the accounting policy
and calculation for derivatives in the Period
Not applicable
compared with last period in aspect of major
changes
After verification, independent director of the Company consider that: during the Period, forward
exchange capital business transaction of the Company are carried out strictly in line with the
relevant regulations of “Standard Operation Guide for Enterprise Listed in Main Board(Revised in
2015)” of the Shenzhen Stock Exchange, Article of Association, Management Measures for the
Authorization and “Management System of the Forward Exchange Capital Transaction of Hefei
Meiling Co., Ltd.” , within authorized scope of the General Meeting and the BOD, against the
Special opinion on derivative investment and
actual business, aiming at locks the income & costs, prevented and avoided risks of exchange rate
risk control by independent directors
fluctuation, and remains sound operation, the forward exchange capital business transaction has
closely related with the routine operation needs of the Company, and the transaction benefit a lot in
avoiding the FX risk arising from import and export business, and meet requirement of the
operation development without any speculative operation, and no law and regulations violated been
found; relevant business are performed corresponding decision-making process and without the
interest of the Company, the whole shareholders, minority in particular, being violated.
VIII. Registration form for receiving research, communication and interview in the report period
Type of Contents discussed and
Date Place Method Investor
investors materials supplied
Business production status of
Conference room of Spot Institutio Essences Securities, Zhong Ou
2015-1-20 the Company, no material
the company investigation n Asset Management required
Business production status of
Conference room of Spot Institutio
2015-1-30 Founder Securities the Company, no material
the company investigation n
required
Business production status of
Conference room of Spot Institutio
2015-2-5 Great Wall Securities the Company, no material
the company investigation n
required
Business production status of
Conference room of Spot Institutio
2015-2-11 Sinolink Securities the Company, no material
the company investigation n
required
Business production status of
Conference room of Spot Institutio
2015-4-2 Minsheng Securities the Company, no material
the company investigation n
required
18
Hefei Meiling Co., Ltd.The First Quarterly Report of 2015
Section IV. Financial Statement
I. Financial statement
1. Consolidate balance sheet
Prepared by Hefei Meiling Co., Ltd.
In RMB
Item Balance at period-end Balance at period-begin
Current assets:
Monetary funds 2,789,974,703.24 2,665,219,013.80
Settlement provisions
Capital lent
Financial liability measured by fair
value and with variation reckoned into 13,400.00
current gains/losses
Derivative financial liability
Notes receivable 1,717,083,832.88 1,223,468,044.05
Accounts receivable 1,463,087,559.80 1,160,192,277.00
Accounts paid in advance 114,564,518.77 92,501,704.06
Insurance receivable
Reinsurance receivables 0.00
Contract reserve of reinsurance
receivable
Interest receivable 292,798.67
Dividend receivable
Other receivables 34,508,148.96 28,729,328.80
Purchase restituted finance asset
Inventories 1,695,652,779.30 1,765,761,407.86
Divided into assets held for sale
Non-current asset due within one
year
Other current assets
Total current assets 7,815,177,741.62 6,935,871,775.57
Non-current assets:
Loans and payments on behalf
19
Hefei Meiling Co., Ltd.The First Quarterly Report of 2015
Finance asset available for sales 5,500,000.00 5,500,000.00
Held-to-maturity investment
Long-term account receivable
Long-term equity investment 50,290,508.04 14,211,004.21
Investment property 14,690,650.08 14,892,795.62
Fixed assets 1,199,349,580.43 1,223,763,920.86
Construction in progress 60,318,479.96 62,766,707.57
Engineering material
Disposal of fixed asset 75,828,843.84 75,808,843.84
Productive biological asset
Oil and gas asset
Intangible assets 564,925,111.20 561,864,209.63
Expense on Research and
28,522,023.60 25,194,157.09
Development
Goodwill 5,313,913.50 5,313,913.50
Long-term expenses to be
apportioned
Deferred income tax asset 84,547,540.77 83,826,873.81
Other non-current asset 41,828,382.00
Total non-current asset 2,131,115,033.42 2,073,142,426.13
Total assets 9,946,292,775.04 9,009,014,201.70
Current liabilities:
Short-term loans 784,563,968.16 407,508,739.07
Loan from central bank
Absorbing deposit and interbank
deposit
Capital borrowed
Financial liability measured by fair
value and with variation reckoned into 12,800.00 81,170.00
current gains/losses
Derivative financial liability
Notes payable 1,679,101,287.74 1,553,110,292.55
Accounts payable 1,973,663,345.56 1,681,116,965.38
Accounts received in advance 362,224,782.00 296,641,377.09
Selling financial asset of
repurchase
Commission charge and
commission payable
20
Hefei Meiling Co., Ltd.The First Quarterly Report of 2015
Wage payable 126,112,423.96 156,537,212.29
Taxes payable 90,873,668.42 51,153,350.18
Interest payable
Dividend payable 2,237,640.91 2,237,640.91
Other accounts payable 863,573,617.05 872,725,707.68
Reinsurance payables
Insurance contract reserve
Security trading of agency
Security sales of agency
Divided into liability held for sale
Non-current liabilities due within 1
11,153,514.40 11,153,512.52
year
Other current liabilities
Total current liabilities 5,893,517,048.20 5,032,265,967.67
Non-current liabilities:
Long-term loans 49,232,952.80 18,947,000.00
Bonds payable
Including: preferred stock
Perpetual capital
securities
Long-term account payable
Long-term wages payable 39,986,000.96 40,317,465.61
Special accounts payable
Projected liabilities 345,239,973.14 347,107,686.15
Deferred income 129,619,471.79 131,995,227.77
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 564,078,398.69 538,367,379.53
Total liabilities 6,457,595,446.89 5,570,633,347.20
Owner’s equity:
Share capital 763,739,205.00 763,739,205.00
Other equity instrument
Including: preferred stock
Perpetual capital
securities
Capital public reserve 1,465,796,255.49 1,466,959,939.03
21
Hefei Meiling Co., Ltd.The First Quarterly Report of 2015
Less: Inventory shares
Other comprehensive income -3,506,394.57 -3,262,898.99
Reasonable reserve
Surplus public reserve 359,857,106.14 359,857,106.14
Provision of general risk
Retained profit 890,414,267.38 835,453,313.49
Total owner’s equity attributable to
3,476,300,439.44 3,422,746,664.67
parent company
Minority interests 12,396,888.71 15,634,189.83
Total owner’s equity 3,488,697,328.15 3,438,380,854.50
Total liabilities and owner’s equity 9,946,292,775.04 9,009,014,201.70
Legal Representative: Liu Tibin
Person in charge of accounting works: Zhang Xiaolong
Person in charge of accounting institute: Tang Bin
2. Balance Sheet of Parent Company
In RMB
Item Closing balance Opening balance
Current assets:
Monetary funds 2,444,985,216.96 2,392,059,424.25
Financial liability measured by fair
value and with variation reckoned into 13,400.00
current gains/losses
Derivative financial liability
Notes receivable 1,209,918,075.19 828,127,854.78
Accounts receivable 913,628,392.28 809,847,584.71
Account paid in advance 178,793,327.37 176,658,393.90
Interest receivable
Dividends receivable
Other receivables 40,506,865.68 54,910,749.80
Inventories 814,992,398.29 795,329,785.95
Divided into assets held for sale
Non-current assets maturing within
one year
Other current assets
Total current assets 5,602,837,675.77 5,056,933,793.39
Non-current assets:
22
Hefei Meiling Co., Ltd.The First Quarterly Report of 2015
Available-for-sale financial assets 5,000,000.00 5,000,000.00
Held-to-maturity investments
Long-term receivables
Long-term equity investments 839,455,003.54 833,369,872.61
Investment property 12,161,320.48 12,279,792.66
Fixed assets 865,003,980.83 885,435,282.76
Construction in progress 48,404,633.58 48,527,533.03
Project materials
Disposal of fixed assets 43,424,954.71 43,404,954.71
Productive biological assets
Oil and natural gas assets
Intangible assets 431,379,817.22 434,092,342.78
Research and development costs 1,910,850.20 509,879.01
Goodwill
Long-term deferred expenses
Deferred income tax assets 75,380,684.46 76,189,511.02
Other non-current assets
Total non-current assets 2,322,121,245.02 2,338,809,168.58
Total assets 7,924,958,920.79 7,395,742,961.97
Current liabilities:
Short-term borrowings 687,324,988.16 373,242,339.07
Financial liability measured by fair
value and with variation reckoned into 12,800.00 81,170.00
current gains/losses
Derivative financial liability
Notes payable 945,588,895.10 1,036,334,282.38
Accounts payable 1,236,559,087.82 1,151,471,839.41
Accounts received in advance 330,093,820.36 152,745,865.71
Wage payable 64,382,541.27 77,090,385.79
Taxes payable 50,938,595.25 23,323,462.51
Interest payable
Dividend payable 2,237,640.91 2,237,640.91
Other accounts payable 700,314,145.88 712,029,942.44
Divided into liability held for sale
23
Hefei Meiling Co., Ltd.The First Quarterly Report of 2015
Non-current liabilities due within 1
7,487,762.48 7,487,760.60
year
Other current liabilities
Total current liabilities 4,024,940,277.23 3,536,044,688.82
Non-current liabilities:
Long-term loans 7,932,800.00 7,932,800.00
Bonds payable
Including: preferred stock
Perpetual capital
securities
Long-term account payable
Long-term wages payable 39,986,000.96 40,317,465.61
Special accounts payable
Projected liabilities 345,239,973.14 347,107,686.15
Deferred income 73,666,103.11 75,538,045.61
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 466,824,877.21 470,895,997.37
Total liabilities 4,491,765,154.44 4,006,940,686.19
Owners’ equity:
Share capita 763,739,205.00 763,739,205.00
Other equity instrument
Including: preferred stock
Perpetual capital
securities
Capital public reserve 1,497,987,059.46 1,497,987,059.46
Less: Inventory shares
Other comprehensive income
Reasonable reserve
Surplus reserve 359,638,940.46 359,638,940.46
Retained profit 811,828,561.43 767,437,070.86
Total owner’s equity 3,433,193,766.35 3,388,802,275.78
Total liabilities and owner’s equity 7,924,958,920.79 7,395,742,961.97
Legal Representative: Liu Tibin
Person in charge of accounting works: Zhang Xiaolong
Person in charge of accounting institute: Tang Bin
24
Hefei Meiling Co., Ltd.The First Quarterly Report of 2015
3. Consolidated Profit Statement
In RMB
Item Current Period Last Period
I. Total operating income 2,690,420,998.10 2,613,087,698.42
Including: Operating income 2,690,420,998.10 2,613,087,698.42
Interest income
Insurance gained
Commission charge and commission
income
II. Total operating cost 2,630,356,619.59 2,562,013,868.70
Including: Operating cost 2,097,474,045.52 2,018,641,090.35
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 17,929,304.57 14,403,856.24
Sales expenses 427,170,446.81 453,546,274.45
Administration expenses 97,415,477.98 85,284,013.66
Financial expenses -19,099,709.75 -17,475,765.00
Losses of devaluation of asset 9,467,054.46 7,614,399.00
Add: Changing income of fair
81,770.00
value(Loss is listed with “-”)
Investment income (Loss is listed
171,415.10 -103,003.19
with “-”)
Including: Investment income on
171,415.10 -103,003.19
affiliated company and joint venture
Exchange income (Loss is listed
with “-”)
III. Operating profit (Loss is listed with
60,317,563.61 50,970,826.53
“-”)
25
Hefei Meiling Co., Ltd.The First Quarterly Report of 2015
Add: Non-operating income 6,026,381.21 6,353,872.55
Including: Disposal gains of
14,776.00 1,453,778.85
non-current asset
Less: Non-operating expense 6,174,911.26 188,790.42
Including: Disposal loss of
5,685,698.09 174,619.08
non-current asset
IV. Total Profit (Loss is listed with “-”) 60,169,033.56 57,135,908.66
Less: Income tax expense 9,522,918.59 5,988,153.23
V. Net profit (Net loss is listed with “-”) 50,646,114.97 51,147,755.43
Net profit attributable to owner’s of
54,960,953.89 49,511,487.82
parent company
Minority shareholders’ gains and
-4,314,838.92 1,636,267.61
losses
VI. Net after-tax of other comprehensive
-309,624.32 1,000,627.56
income
Net after-tax of other comprehensive
income attributable to owners of parent -243,495.58 600,376.54
company
(I) Other comprehensive income
items which will not be reclassified
subsequently to profit of loss
1. Changes as a result of
re-measurement of net defined benefit
plan liability or asset
2. Share of the other
comprehensive income of the investee
accounted for using equity method which
will not be reclassified subsequently to
profit and loss
(II) Other comprehensive income
items which will be reclassified -243,495.58 600,376.54
subsequently to profit or loss
1. Share of the other
comprehensive income of the investee
accounted for using equity method which
will be reclassified subsequently to profit
or loss
2. Gains or losses arising
from changes in fair value of
available-for-sale financial assets
26
Hefei Meiling Co., Ltd.The First Quarterly Report of 2015
3. Gains or losses arising
from reclassification of held-to-maturity
investment as available-for-sale financial
assets
4. The effect hedging portion
of gains or losses arising from cash flow
hedging instruments
5. Translation differences
arising on translation of foreign currency -243,495.58 600,376.54
financial statements
6. Other
Net after-tax of other comprehensive
income attributable to minority -66,128.74 400,251.02
shareholders
VII. Total comprehensive income 50,336,490.65 52,148,382.99
Total comprehensive income
54,717,458.31 50,111,864.36
attributable to owners of parent Company
Total comprehensive income
-4,380,967.66 2,036,518.63
attributable to minority shareholders
VIII. Earnings per share:
(i) Basic earnings per share 0.0720 0.0648
(ii) Diluted earnings per share 0.0720 0.0648
Legal Representative: Liu Tibin
Person in charge of accounting works: Zhang Xiaolong
Person in charge of accounting institute: Tang Bin
4. Profit Statement of Parent Company
In RMB
Item Current Period Last Period
I. Operating income 1,501,709,121.95 1,216,776,629.46
Less: Operating cost 1,253,513,363.69 1,025,006,130.11
Operating tax and extras 10,329,956.47 5,618,273.43
Sales expenses 144,475,730.93 103,582,595.46
Administration expenses 50,319,095.61 43,935,338.17
Financial expenses -14,222,182.00 -13,296,404.90
Losses of devaluation of asset 2,036,087.98 34,533,501.11
Add: Changing income of fair
81,770.00
value(Loss is listed with “-”)
27
Hefei Meiling Co., Ltd.The First Quarterly Report of 2015
Investment income (Loss is
85,130.93 -20,120.98
listed with “-”)
Including: Investment income
85,130.93 -20,120.98
on affiliated company and joint venture
II. Operating profit (Loss is listed
55,423,970.20 17,377,075.10
with “-”)
Add: Non-operating income 2,608,543.71 4,607,507.27
Including: Disposal gains of
678,096.91
non-current asset
Less: Non-operating expense 6,042,964.39 174,339.08
Including: Disposal loss of
5,668,797.10 174,339.08
non-current asset
III. Total Profit (Loss is listed with
51,989,549.52 21,810,243.29
“-”)
Less: Income tax expense 7,598,058.95 3,552,494.72
IV. Net profit (Net loss is listed with
44,391,490.57 18,257,748.57
“-”)
V. Net after-tax of other comprehensive
income
(I) Other comprehensive income
items which will not be reclassified
subsequently to profit of loss
1. Changes as a result of
re-measurement of net defined benefit
plan liability or asset
2. Share of the other
comprehensive income of the investee
accounted for using equity method
which will not be reclassified
subsequently to profit and loss
(II) Other comprehensive income
items which will be reclassified
subsequently to profit or loss
1. Share of the other
comprehensive income of the investee
accounted for using equity method
which will be reclassified subsequently
to profit or loss
2. Gains or losses arising
from changes in fair value of
28
Hefei Meiling Co., Ltd.The First Quarterly Report of 2015
available-for-sale financial assets
3. Gains or losses arising
from reclassification of held-to-maturity
investment as available-for-sale
financial assets
4. The effect hedging
portion of gains or losses arising from
cash flow hedging instruments
5. Translation differences
arising on translation of foreign
currency financial statements
6. Other
VI. Total comprehensive income 44,391,490.57 18,257,748.57
VII. Earnings per share:
(i) Basic earnings per share 0.0581 0.0239
(ii) Diluted earnings per share 0.0581 0.0239
Legal Representative: Liu Tibin
Person in charge of accounting works: Zhang Xiaolong
Person in charge of accounting institute: Tang Bin
5. Consolidated Cash Flow Statement
In RMB
Item Current Period Last Period
I. Cash flows arising from operating
activities:
Cash received from selling
commodities and providing labor 1,817,683,475.44 1,607,319,295.45
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
29
Hefei Meiling Co., Ltd.The First Quarterly Report of 2015
investment
Net increase of amount from
disposal financial assets that measured
by fair value and with variation
reckoned into current gains/losses
Cash received from interest,
commission charge and commission
Net increase of capital borrowed
Net increase of returned business
capital
Write-back of tax received 54,031,690.80 38,022,269.44
Other cash received concerning
5,210,846.22 17,463,443.87
operating activities
Subtotal of cash inflow arising from
1,876,926,012.46 1,662,805,008.76
operating activities
Cash paid for purchasing
commodities and receiving labor 1,471,567,032.43 1,490,404,973.31
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 263,818,130.30 211,187,557.21
Taxes paid 79,377,370.18 75,731,980.76
Other cash paid concerning
188,924,432.17 193,762,600.45
operating activities
Subtotal of cash outflow arising from
2,003,686,965.08 1,971,087,111.73
operating activities
Net cash flows arising from operating
-126,760,952.62 -308,282,102.97
activities
II. Cash flows arising from investing
activities:
Cash received from recovering
30
Hefei Meiling Co., Ltd.The First Quarterly Report of 2015
investment
Cash received from investment
income
Net cash received from disposal of
fixed, intangible and other long-term 1,234,432.00 40,729,958.40
assets
Net cash received from disposal of
subsidiaries and other units
Other cash received concerning
17,219,641.80 12,044,788.48
investing activities
Subtotal of cash inflow from investing
18,454,073.80 52,774,746.88
activities
Cash paid for purchasing fixed,
36,881,430.75 27,741,973.71
intangible and other long-term assets
Cash paid for investment 36,149,974.00 1,097,787.00
Net increase of mortgaged loans
Net cash received from
subsidiaries and other units obtained
Other cash paid concerning
investing activities
Subtotal of cash outflow from investing
73,031,404.75 28,839,760.71
activities
Net cash flows arising from investing
-54,577,330.95 23,934,986.17
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 686,048,061.59 716,333,000.05
Cash received from issuing bonds
Other cash received concerning
financing activities
Subtotal of cash inflow from financing
686,048,061.59 716,333,000.05
activities
Cash paid for settling debts 381,572,057.56 95,834,477.54
31
Hefei Meiling Co., Ltd.The First Quarterly Report of 2015
Cash paid for dividend and profit
3,958,191.54 1,963,928.25
distributing or interest paying
Including: Dividend and profit of
minority shareholder paid by
subsidiaries
Other cash paid concerning
2,973,468.35
financing activities
Subtotal of cash outflow from
385,530,249.10 100,771,874.14
financing activities
Net cash flows arising from financing
300,517,812.49 615,561,125.91
activities
IV. Influence on cash and cash
equivalents due to fluctuation in 7,204,996.05 1,286,792.08
exchange rate
V. Net increase of cash and cash
126,384,524.97 332,500,801.19
equivalents
Add: Balance of cash and cash
2,645,879,017.88 2,238,884,137.50
equivalents at the period -begin
VI. Balance of cash and cash
2,772,263,542.85 2,571,384,938.69
equivalents at the period -end
Legal Representative: Liu Tibin
Person in charge of accounting works: Zhang Xiaolong
Person in charge of accounting institute: Tang Bin
6. Cash Flow Statement of Parent Company
In RMB
Item Current Period Last Period
I. Cash flows arising from operating
activities:
Cash received from selling
commodities and providing labor 919,267,902.33 936,702,970.03
services
Write-back of tax received 35,315,414.37 32,722,151.29
Other cash received concerning
1,969,905.92 3,086,145.94
operating activities
Subtotal of cash inflow arising from
956,553,222.62 972,511,267.26
operating activities
Cash paid for purchasing
973,813,926.55 1,097,447,589.58
commodities and receiving labor
32
Hefei Meiling Co., Ltd.The First Quarterly Report of 2015
service
Cash paid to/for staff and workers 90,288,074.11 82,535,290.35
Taxes paid 25,736,819.33 19,957,054.76
Other cash paid concerning
66,618,277.52 74,575,556.76
operating activities
Subtotal of cash outflow arising from
1,156,457,097.51 1,274,515,491.45
operating activities
Net cash flows arising from operating
-199,903,874.89 -302,004,224.19
activities
II. Cash flows arising from investing
activities:
Cash received from recovering
investment
Cash received from investment
income
Net cash received from disposal of
fixed, intangible and other long-term 965,112.00 729,950.00
assets
Net cash received from disposal of
subsidiaries and other units
Other cash received concerning
14,255,616.51 12,445,872.25
investing activities
Subtotal of cash inflow from investing
15,220,728.51 13,175,822.25
activities
Cash paid for purchasing fixed,
15,521,939.44 22,506,664.19
intangible and other long-term assets
Cash paid for investment 6,000,000.00 4,950,000.00
Net cash received from
subsidiaries and other units
Other cash paid concerning
investing activities
Subtotal of cash outflow from investing
21,521,939.44 27,456,664.19
activities
Net cash flows arising from investing
-6,301,210.93 -14,280,841.94
activities
III. Cash flows arising from financing
activities
Cash received from absorbing
33
Hefei Meiling Co., Ltd.The First Quarterly Report of 2015
investment
Cash received from loans 619,816,005.59 655,241,500.05
Cash received from issuing bonds
Other cash received concerning
4,801,561.18 50,210,844.95
financing activities
Subtotal of cash inflow from financing
624,617,566.77 705,452,345.00
activities
Cash paid for settling debts 347,191,657.56 65,300,977.54
Cash paid for dividend and profit
3,496,983.19 1,228,608.27
distributing or interest paying
Other cash paid concerning
19,697,344.21 1,813,437.05
financing activities
Subtotal of cash outflow from
370,385,984.96 68,343,022.86
financing activities
Net cash flows arising from financing
254,231,581.81 637,109,322.14
activities
IV. Influence on cash and cash
equivalents due to fluctuation in 6,512,404.39 245,030.45
exchange rate
V. Net increase of cash and cash
54,538,900.38 321,069,286.46
equivalents
Add: Balance of cash and cash
2,390,446,316.58 1,996,577,625.49
equivalents at the period -begin
VI. Balance of cash and cash
2,444,985,216.96 2,317,646,911.95
equivalents at the period -end
Legal Representative: Liu Tibin
Person in charge of accounting works: Zhang Xiaolong
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
18 April 2015
34
