Hefei Meiling Co., Ltd.The First Quarterly Report of 2017
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Hefei Meiling Co., Ltd.
The First Quarterly Report of 2017
April 2017
Hefei Meiling Co., Ltd.The First Quarterly Report of 2017
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, Mr. Zhang Xiaolong, person in charger of accounting works
and Mr. Luo Bo, person in charger of accounting organ (accounting officer) hereby confirm that the Financial
Report of this Quarterly Report is authentic, accurate and complete.
Prompt of non-standard audit opinion
□ Applicable √ Not applicable
The First Quarterly Report of 2017 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 2017
Section II. Basic situation of the Company
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
This Period Same period of last year over same period of last
year
Operating income (RMB) 3,666,603,957.50 2,926,400,488.89 25.29%
Net profit attributable to shareholders of
61,303,717.56 53,709,680.24
the listed company(RMB) 14.14%
Net profit attributable to shareholders of
the listed company after deducting 41,625,189.75 41,338,292.32 0.69%
non-recurring gains and losses(RMB)
Net cash flow arising from operating
551,271,013.44 139,597,747.12
activities(RMB) 294.90%
Basic earnings per share (RMB/Share) 0.0587 0.0703 -16.55%
Diluted earnings per share (RMB/Share) 0.0587 0.0703 -16.55%
0.33 percentage points
Weighted average ROE 1.20% 1.53%
down
Changes of this
End of this period End of last period period-end over same
period-end of last year
Total assets (RMB) 14,635,416,631.04 12,507,567,310.84 17.01%
Net assets attributable to shareholder of
5,156,130,270.26 5,095,160,291.91 1.20%
listed company (RMB)
Note: the number of EPS calculated for last period was based on the total stock of 763,739,205 shares. Private placement of the
Company was completed in October 2016, totally 280,858,676 ordinary RMB shares (A share) issued, total share capital of the
Company up to 1,044,597,881 shares. Therefore, the number of EPS for this period was based on the total stock of 1,044,597,881
shares.
Items of non-recurring gains and losses
√ Applicable □ Not applicable
In RMB
Amount from year-begin to
Item Note
period-end
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Hefei Meiling Co., Ltd.The First Quarterly Report of 2017
Found in “Non-operating income
Gains/losses from the disposal of non-current asset (including the
-10,585,821.73 and expenditure”, “Investment
write-off that accrued for impairment of assets)
income”
Governmental subsidy reckoned into current gains/losses (not
including the subsidy enjoyed in quota or ration according to
15,544,848.47 Found in “Non-operating income”
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 Found in “Changing income of fair
1,507,583.23
liabilities and financial asset available for sales, exclude the value”
effective hedging business relevant with normal operations of the
Company
Other non-operating income and expenditure except for the Found in “Non-operating income
700,118.93
aforementioned items and expenditure”
Gain/losses items qualified definition of the non-recurring
13,895,258.54 Found in “Investment income”
gains/losses
Less : impact on income tax 1,302,388.92 --
Impact on minority shareholders’ equity (post-tax) 81,070.71 --
Total 19,678,527.81 --
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
Item Involved amount (RMB) Reason
During the reporting period, the wholly owned subsidiary - Mianyang
Meiling Software Technology Co., Ltd. has received VAT refunds of
software products according to "Notice about VAT policy of software
products by Ministry of Finance & State Administration of Taxation"
CS No. [2011] 100 document, and adequately disclosed the company's
business situation, in accordance with relevant provisions in the third
Non-operating income 364,301.04 article of the second item of CSRC "No. 1 explanatory announcement
about information disclosure of the company publicly issues securities
- non-recurring profit and loss (2008)", the public subsidies which are
closely related to the company's business, conform to the national
policies and regulations and continue to be enjoyed according to a
certain standard rating or quantity should be included in the company's
recurring gains and losses.
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Hefei Meiling Co., Ltd.The First Quarterly Report of 2017
II. Total number of shareholders at the end of this report period and top ten shareholders
1. Total number of common shareholders and preference shareholders with voting rights recovered and top
ten common shareholders
In shares
Total number of common shareholders Total preference shareholders with voting rights
61,973 N/A
at the end of report period recovered at end of reporting period (if applicable)
Top ten shareholders
Number of share
Amount of
Proportion Amount of shares pledged/frozen
Nature of
Shareholder’s name of shares restricted shares
shareholder held
held State of
held Amount
share
State-owned legal
Sichuan Changhong Electric Co., Ltd. 22.47% 234,705,968 69,877,638 -- --
person
Hefei Industrial Investment Holding (Group) State-owned legal
4.58% 47,823,401 0 -- --
Co., Ltd. person
Foreign legal
Changhong (Hong Kong) Trade Co., Ltd. 2.41% 25,165,823 0 -- --
person
Ping An Annuity Insurance Company of Domestic
China, Ltd. – Ping An Pension Ruifu private non-State-owned 2.26% 23,613,595 23,613,595 -- --
placement No.1 Assets Management Products legal person
Domestic
Golden Eagle- SPD-U Trust-U Trust JinYue
non-State-owned 2.26% 23,613,595 23,613,595 -- --
No.4 Collected Asset Trust Plan
legal person
Foreign nature
CAO SHENGCHUN 1.30% 13,542,207 0 -- --
person
Domestic
Ping An UOB-Ping An Bank-Guohai
non-State-owned 1.20% 12,522,361 12,522,361 -- --
Securities Co., Ltd.
legal person
Domestic
Ping An Bank – Ping An UOB Dingtai
non-State-owned 1.20% 12,522,361 12,522,361 -- --
Flexible Mix Stock Investment Fund
legal person
Caitong Fund- Ningbo Bank-Haitong Xingtai Domestic
(Anhui) Emerging Industry Investment Fund non-State-owned 1.03% 10,733,452 10,733,452 -- --
(Limited Partnership) legal person
Domestic
National Social Security Funds-504 non-State-owned 0.94% 9,838,998 9,838,998 -- --
legal person
Harvest Fund- Ping An Bank- Huaxia Asset Domestic
0.94% 9,838,998 9,838,998 -- --
Management Co., Ltd. non-State-owned
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Hefei Meiling Co., Ltd.The First Quarterly Report of 2017
legal person
Top ten shareholders with unrestricted shares held
Amount of unrestricted Type of shares
Shareholder’s name
shares held Type Amount
RMB ordinary
Sichuan Changhong Electric Co., Ltd. 164,828,330 164,828,330
shares
RMB ordinary
Hefei Industrial Investment Holding (Group) Co., Ltd. 47,823,401 47,823,401
shares
Domestically listed
Changhong (Hong Kong) Trade Co., Ltd. 25,165,823 25,165,823
foreign shares
Domestically listed
CAO SHENGCHUN 13,542,207 13,542,207
foreign shares
Bank of Communications Co., Ltd. – Guotai Golden Eagle Growth Flexible RMB ordinary
7,998,817 7,998,817
Mix Stock Fund shares
RMB ordinary
China Construction Bank – Guotai Value Classic Mix Stock Fund (LOF) 5,998,360 5,998,360
shares
RMB ordinary
Guotai Fund – ICBC – Guotai Xinyi No.1 Asset Management Plan 5,214,500 5,214,500
shares
Domestically listed
NORGES BANK 4,546,432 4,546,432
foreign shares
RMB ordinary
China Securities Finance Corporation Limited 4,362,500 4,362,500
shares
Domestically listed
Long Qinfang 3,294,937 3,294,937
foreign shares
Among the above shareholders, Changhong (Hong Kong) Trade Co., Ltd. is the wholly-owned subsidiary of
Sichuan Changhong Electronic Co., Ltd.; there existed no associated relationship or belong to the concerted
actors as specified in the Measures for the Administration of Information Disclosure of Shareholder Equity
Changes of Listed Companies among Sichuan Changhong Electronic Co., Ltd., Changhong (Hong Kong) Trade
Co., Ltd. and other top 8 shareholders; Ping An –UOB Fund –Ping An Bank- Guohai Securities Co., Ltd. and
Explanation on associated
Ping An Bank Limited - Ping An –UOB Dingtailing Flex Mix Stock Fund is the products managed by Ping An
relationship among the
–UOB Fund, the company subscribe stock from private placement of 2016; national Social Security Fund -054
aforesaid shareholders
and Harvest Fund – Ping An Bank- China Capital Management Limited is the products managed by Harvest
Fund Management Co., Ltd., the company subscribe stock from private placement of 2016. 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.
Explanation on top ten
common shareholders
N/A
involving margin business
(if applicable)
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Hefei Meiling Co., Ltd.The First Quarterly Report of 2017
Note: In the above table, " the top ten shareholders" is subject to the data on stock transfer books provided by China Securities
Depository and Clearing Corporation Limited Shenzhen Branch, during the reporting period, 7 issuing objects including Sichuan
Changhong Electric Co., Ltd. , Ping An Dahua Fund Management Co., Ltd., Golden Eagle Fund Management Co., Ltd., Harvest
Fund Management Co., Ltd., Ping An Endowment Insurance Co., Ltd., Rongtong Fund Management Co., Ltd., and Caitong Fund
Management Co., Ltd. have subscribed the company’s non-public offering of shares in 2016, and these shares are all restricted shares.
For the number of subscribed shares of the above-mentioned 7 issuing objects and the allocated products of other 6 issuing objects
except for Sichuan Changhong, see details on the “Issuing report and listing announcement summary on the non-public offering of
shares of Hefei Meiling Co., Ltd.” (Announcement No. 2016-057) which the company has disclosed on the designated information
disclosure media "Securities Times", "China Securities Journal", "Hong Kong Commercial Daily" and www.cninfo.com.cn on
October 13, 2016.
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 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 2017
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
(I) Changes and reasons of items in balance sheet
In RMB
Balance at Balance at Changes
Item Reasons of changes
period-end year-begin ratio
Accounts paid in advance 192,418,144.94 134,706,488.38 42.84% The money prepaid for suppliers increased at end of the period
The export tax rebate increased without being collected
Other receivable 67,095,307.03 39,553,919.44 69.63%
temporary in the period
Inventories 2,580,866,215.12 1,974,526,734.86 30.71% Inventory increase with the soaring sales on a y-o-y basis
The long-term deposit of subsidiary Zhongshang Changhong
Non-current asset due
46,984,233.00 12,625,340.00 272.14% Electric Co., Ltd. (Zhongshan Changhong) was re-classified to
within one year
non-current assets due within one year at period-end
Long-term expenses to be Long-term deferred expenses from subsidiary Sichuan
1,526,586.33 1,132,075.48 34.85%
apportioned Changhong Air-Conditioner Co., Ltd increased in the period
Other non-current asset - 34,615,630.00 -100.00% Same reasons as “non-current asset due within one year”
Short-term loans 564,267,373.25 288,343,724.73 95.69% Short-term loans from parent company increased in the period
Financial liability
measured by fair value
and with variation 308,452.50 559,249.58 -44.85% Change of the fair value of forward foreign exchange contract
reckoned into current
gains/losses
Payable note without expired temporary increased at
Notes payable 3,618,196,887.91 2,635,051,740.30 37.31%
period-end
Material purchasement increased with the soaring purchase in
Accounts payable 3,119,782,224.32 2,331,899,310.82 33.79%
the period
The salary and year-end bonus accrual last year was distributed
Wage payable 129,841,677.10 189,592,039.00 -31.52%
in the period
Interest of payable loans are paid by parent company in the
Interest payable 249,686.32 1,617,352.01 -84.56%
period
The long-term loans of subsidiary Zhongshan Changhong was
Long-term loans 4,751,000.00 38,908,788.00 -87.79% re-classified to non-current liability due within one year at
period-end
The government specific money for project, not yet accepted,
Special accounts payable 980,000.00 1,400,000.00 -30.00%
are paid by Zhongshan Changhong in line with the JDA
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Hefei Meiling Co., Ltd.The First Quarterly Report of 2017
(II) Changes and reasons of items in profit statement
In RMB
Amount at the
Amount at the Changes
Item same period of Reasons of changes
period ratio
last year
Interest income and exchange gains or loss has a y-o-y increased in
Financial expenses -17,885,269.18 -5,371,504.22 -232.97%
the period
Add: Changing income of Gains from fair value changes for forward foreign exchange
fair value(Loss is listed 1,507,583.23 - 100.00% contract increased while no such amount occurred at same period of
with “-”) last year
Investment income (loss is Income from financing increased in the period and losses from
12,860,815.50 358,659.99 3485.80%
listed with “-“) associated enterprise has declined from a year earlier
Including: income from
investment for associated -1,036,950.02 -4,627,641.38 77.59% Losses from associated enterprise has declined from a year earlier
enterprise and joint venture
The deferred income- relocation subsidy are transfer-in, from
Add: non-operation income 16,629,279.66 10,126,101.23 64.22%
subsidiary Mianyang Meiling Refrigeration Co., Ltd. in the period
Including: income from
disposal of non-current 16,683.33 137,329.94 -87.85% Income from fixed assets disposal declined on a y-o-y basis
assets
Less: Non-operating Loss of disposal on relocation assets from subsidiary Mianyang
10,608,339.93 590,032.72 1697.92%
expense Refrigeration
Including: Disposal loss of
10,605,012.04 324,113.57 3172.00% Same reason as “Non-operation expense”
non-current asset
Less: income tax expenses 10,357,138.93 6,528,778.06 58.64% Taxable income increased from a year earlier
Earnings from some of the non-wholly-owned subsidiaries
Minority interest 1,011,054.00 -1,050,229.32 196.27%
increased in the period
(III) Changes and reasons of items in cash flow statement
In RMB
Amount at the Amount at the same Changes
Item Reasons of changes
period period of last year ratio
Cash received from selling
commodities and providing labor 3,620,133,971.51 2,763,169,371.62 31.01% Money with sales concerned increased in the period
services
Cash received related with other The restricted monetary fund increased from a year
184,970,402.42 135,505,177.34 36.50%
operating activities earlier
Cash received related with other Interest income from parent company increased from a
24,352,099.28 11,813,596.67 106.14%
investment activities year earlier
Net cash received from disposal
of fixed assets, intangible assets 66,731,962.61 36,348,248.79 83.59% Purchasing fixed assets increased from a year earlier
and other long-term assets
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Hefei Meiling Co., Ltd.The First Quarterly Report of 2017
The principal paid for entrust financing increased in
Cash paid for investment 850,000,000.00 95,983,860.00 785.57%
the period
Cash received from absorbing Subsidiary absolve investment from minority at same
- 16,661,794.74 -100.00%
investment period of last year while no such money in the period
Cash received related with other Parent company received fractional dividend at same
- 3,451.80 -100.00%
financing activities period of last year while no such money in the period
Short-term loans paid by parent company increased
Cash paid for debt settlement 261,250,000.00 48,119,369.00 442.92%
from a year earlier
Cash paid for dividend/profit Loan interest paid in the period increased from a year
2,890,153.13 2,013,571.61 43.53%
distribution or interest expenses earlier
IV. Influence on cash and cash
equivalents due to fluctuation in 9,570,512.21 -5,770,988.16 265.84% Variation of the rate in foreign money currency
exchange rate
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
The Company implemented a private placement of A-share in year of 2016, totally 1,569,999,998.84 Yuan
raised, net money raised amounting to 1,540,732,722.76 Yuan after deducted vary issuance costs (tax included)
29,267,276.08 Yuan.
To improved the efficiency of use of raised funds, and in spirit of maximized the interest for shareholders,
reducing financial costs, and on the premise of normal utilization of the raised-funds for raised-fund investments,
the idle raised-fund (900 million Yuan at most and can be scroll to use) was allowed to invested in guaranteed
financial products ( the products are highly security and better in liquidity) with investment term of one year
(since the date obtained approval from shareholders general meeting), that is from 13 December 2016 to 13
December 2017. The above mentioned event has been deliberated and approved by 27th session of 8th BOD of
2016, the 14th session of 8th Supervisory Committee and Second Extraordinary Shareholders General Meeting
2016, agreed by independent directors and also has an agreement from the sponsor institution after review. Till
recently, raised fund are use in a standard way under relevant decision and regulations.
Ended as 31 March 2017, actual raised fund was accumulated amounting to 344,513,672.66 Yuan for used,
total balance of fund raised amounting to1,205,829,867.32 Yuan (including interest 9,610,817.22 Yuan, and the
900 million Yuan financial products, purchased with the idle raised-fund).
Accumulated 344,513,672.66 Yuan raised-fund are used for the follow as: accumulated 27,659,226.96 Yuan
used for intelligent manufacturing construction; accumulated 27,973,781.93 Yuan used for intelligent R&D
capacity building and new product development for the intelligence appliance; 18,000,600.00 Yuan used for Smart
Life projects and accumulated 270,880,063.77 Yuan used for supplemented the current capital (including interest
147,341.01 Yuan).
Ended as 31 March 2017, among the project of intelligent manufacturing construction: the phase I
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Hefei Meiling Co., Ltd.The First Quarterly Report of 2017
construction for “intelligent manufacturing (Hefei)” has been completed in the main content, and proactively
promotes the Phase II construction. The “intelligent production line construction project of increasing 600000
green energy-saving freezers with medium volume size annually” (freezer intelligent construction project for
short), is in the process of plant planning and will complete at end of June 2018, for the construction site is the
place where Zhongke Meiling Cryogenic Technology Co., Ltd. locates, new factory for Zhongke Cryogenic
Technology are in construction. Intelligent R&D capacity building and new product development for the
intelligence appliance is on promotion process step by step; Smart Life projects have the implementing subject of
Changmei Technology Co., Ltd. (Changmei Technology for short), in reporting period, Changmei Technology
proactively exploit markets and promoted normal business.
(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 (No.: 2012-028, No.:2012-035).
1. Implementation about 2012, 2013 and 2014 performance incentive fund provision and distribution
plan
Please see the details in "The implementation of the company's annual incentive funds "of
"XV-Implementation of the company’s stock incentive plan, employee stock ownership plan or other employee
incentives " at "Section Five-Important matters" in "2015 Annual Report" of the company disclosed on Mar. 25,
2016.
Up to the end of this reporting period, the company's stock purchased by some 2012 annual performance
incentive objects (non-directors, supervisors and senior management) with their granted 2012 annual performance
incentive funds and own funds has been fully desterilized, the company's stock purchased by some 2013 annual
performance incentive objects (non-directors, supervisors and senior management) with their granted 2013 annual
performance incentive funds and own funds has been desterilized by 50% for term of holding for two years, see
below for the overall reducing holding-shares of some above-mentioned incentive objects; if the stock holding
period of the company's stock purchased by 2014 annual performance incentive objects with their granted 2014
annual performance incentive funds and own funds is less than two years, the purchased stock of all incentive
objects should be locked according to the commitments. Among the incentive objects, the current directors,
supervisors and senior management have not reduced the Company’s shares purchased by implementing 2012,
2013, and 2014 annual performance incentive plans.
2. Implementation about 2016 performance incentive fund provision and distribution plan
According to the approved “Incentive Plan”, the 2016 operation performance and actual business condition
(audited) have came to the granted condition of annual performance incentive fund. The “proposal of accrual 2016
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Hefei Meiling Co., Ltd.The First Quarterly Report of 2017
annual performance incentive fund of the Company” was deliberated and approved by 29th session of 8th BOD and
15th session of 8th supervisory committee held on 28 March 2017, and independent directors express independent
opinions, interested directors are avoid the voting. The Company agreed to withdraw 24,182,150.92 Yuan as
incentive fund (10% of the audited net profit for year of 2016), the event still needs deliberation and approval
from the AGM of 2016. the distribution plan for 2016 performance incentive fund will implemented after
deliberation procedures done by BOD and Shareholders General meeting.
Found more in Notices (No. 2017-010, No.2017-011 and No.2017-015) released on appointed media
Securities Times, China Securities Journal, Hong Kong Commercial Daily and Juchao Website
(www.cninfo.com.cn) dated 30 March 2017.
3. Shareholding and reducing of performance incentive objects of the Company
Up to March 31, 2017, the total number of the company’s stock held by incentive objects is 10,161,379
shares, accounting for 0.973% of the company’s total share capital, of which A stock is 8,828,247 shares,
accounting for about 0.845% of the company’s total share capital, B stock is 1,333,132 shares, accounting for
about 0.128% of the company’s total share capital. Up to March 31, 2017, some 2012 & 2013 annual performance
incentive objects (non directors, supervisors or senior management) have cumulatively reduced holding of
3,244,577 shares from September 2014 to the end of this reporting period, accounting for 0.31% of the company’s
total share capital, and no shares reduced in the Period
(III) Transaction with Sichuan Changhong Group Finance Co., Ltd
Being deliberated and approved by 18th session of 8th BOD and First Extraordinary Shareholders General
Meeting held respectively on 18 March 2016 and 6 April 2016, the Company agreed to sign an Agreement on
Financial Services with Sichuan Changhong Group Finance Co., Ltd. (Changhong Finance for short) for continues
financial services with term of three years. In line with the Agreement, Changhong Finance Company will provide
serial financial services as savings and loans, in business scope, according to the requirement of the Company and
its subordinate subsidiaries. Related transactions from beginning of the year to end of the Period are as:
Subject to approval from the board of directors and general meeting of the Company, it is agreed for the
Company to enter into Financial Service Agreement with Sichuan Changhong Group Finance Co., Ltd.
(“Changhong Finance Company”) for a term of three years. Pursuant to the agreement, Changhong Finance
Company will provide a series of financial services including savings and loans within its operating scope
according to requirements of the Company and its subsidiaries. From the beginning of this year to the end of
reporting period, the connected transactions occurred between the Company and Changhong Finance Company
are set out below:
In RMB
Interest,
Increased during Decreased handling
Item Opening balance Ending balance
the Year during the Year charge paid
or received
11
Hefei Meiling Co., Ltd.The First Quarterly Report of 2017
Interest,
Increased during Decreased handling
Item Opening balance Ending balance
the Year during the Year charge paid
or received
I. Savings in Changhong
1,908,842,163.20 5,986,846,966.68 5,990,227,712.11 1,905,461,417.77 8,822,574.43
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 544,374,441.19 556,671,928.74 447,053,929.82 653,992,440.11 143,335.97
2.notes discounted 565,252,574.29 785,255,397.88 242,460,789.18 1,108,047,182.99 6,661,980.44
(IV) Other significant events
Information index for temporary
Overview Date for disclosure
report disclosure
Controlling shareholder-Sichuan Changhong Electric Co., Ltd. (Sichuan
Juchao Website:
Changhong for short) plans to take some A-stock of the Company and their
2017-2-28 http://www.cninfo.com.cn
fruits (including capital surplus, allotment, bonus and dividend etc.) as the
(No.: 2017-004)
target of exchangeable bonds for the private placement
Former staff supervisor Mr. Shang Wen resigned the job as staff supervisor for
8th supervisory committee of the Company for individual reason. For normal
Juchao Website:
operation of the supervisory, the Company holding a worker’s congress on 28
2017-3-2 http://www.cninfo.com.cn
Feb. 2017, and Mr. Deng Li approved to supplement as staff supervisor of 8 th
(No.: 2017-005)
supervisory committee of the Company by democratic election, office term is
same as the term of 8th supervisory committee.
Approved by the Board Meeting, subordinate subsidiary Jiangxi Meiling
Electric Co,., Ltd. (Jiangxi Meiling for short) was agreed to contributed 209.6
Juchao Website:
million Yuan for construction of intelligent production line for the one million
2017-3-14 http://www.cninfo.com.cn
environment protection energy-saving refrigerators. Meanwhile, the Company
(No.: 2017-006)
will increase 200 million Yuan for the construction to Jiangxi Meiling for
purpose of ensuring the smooth implementation of the construction.
Approved by the Board Meeting, subordinate subsidiary Zhongshan
Changhong Electric Co,., Ltd. (Zhongshan Changhong for short) was agreed to Juchao Website:
established a Zhongshan Hongyou HVAC Equipment Co., Ltd. (Tentative 2017-3-14 http://www.cninfo.com.cn
name, name verify by Industrial & Commerce Bureau should prevail) together (No.: 2017-006)
with Zhuhai Sanyou Environment Technology Co., Ltd. (Sanyou Environment
12
Hefei Meiling Co., Ltd.The First Quarterly Report of 2017
for short), the enterprise with superior resources in industry of research and
development, technology, channel and foreign clients. Register capital was 40
Million Yuan, including 24 million Yuan contributed by Zhongshan
Changhong, the self-owned fund, and 16 million Yuan invested by Sanyou
Environment.
On 21 March 2017, the Company entered into a Strategy Co-operation Frame
Agreement with Italy Candy Hoover Group S.r.l. and Candy S.p.A.. In
principle of strategic mutual win and playing a synergistic effect in full role in Juchao Website:
respect of products and resources, the two parties plans, by friendly 2017-3-21 http://www.cninfo.com.cn
negotiation, to establish strategic partnership in field of refrigerator(ice box) (No.: 2017-007)
and washing machine, for expanding the market jointly and promotion the
brand for maximizing business value and social value together.
Approved by the Board Meeting, the Company and its subsidiaries were agreed
to carry out forward foreign exchange fund transaction from 1 July 2017 to 30 Juchao Website:
June 2018, with transaction balance of $550 million at most. The single service 2017-3-30 http://www.cninfo.com.cn
delivery period will not over one year. The event should deliberate and (No.: 2017-010; 2017-017)
approved by AGM of 2016.
Approved by the Board Meeting, the Company was agreed to invested 371.21 Juchao Website:
million Yuan at most for the production base construction for producing 2 2017-3-30 http://www.cninfo.com.cn
million fully-automatic washing machine (No.: 2017-010)
Approved by the Board Meeting, the Company was agreed to participate in the
judicial sale of plant office building and lands, under the name of Anhui
Dongwei, with owned fund in bid price range.
On 30 March 2017, the Company involved in the bidding in accordance with
Juchao Website:
relevant provisions and procedures, and finally successful bidding the plant 2017-3-30,
http://www.cninfo.com.cn
office building under the name of Anhui Dongwei, with covered area 2017-4-14
(No.: 2017-010; 2017-024)
amounting to 86,087.65 M2 and land use right for the 116,233.61 M2. On 12
April 2017, the Company accepted a Letter of Affirmation of Auction issued
from Shushan People’s Court of Hefei, Anhui Province. Relevant procedures
for assets transfer is in process in line with relevant regulations recently.
Approved by the Board Meeting, subsidiary Hefei Meiling Non-Ferrous Metal
Products Co., Ltd. (Meiling Non-Ferrous Metal for short) was agreed to
Juchao Website:
cooperate with Hefei Vanke Real Estate Co., Ltd., in respect of the land held by
2017-3-30 http://www.cninfo.com.cn
Meiling Non-Ferrous Metal locates on Liaoyuan Road East, Feidong County,
(No.: 2017-010; 2017-018)
Hefei City. And two parties are signed the Cooperative Contract of Lands of
Feidong Meiling Non-Ferrous Metal
Approved by the Board Meeting, the Company was agreed to establish Meiling
Kadi Washing Machine Co., Ltd. jointly invested with Candy Hoover Group Juchao Website:
S.r.l. (Candy Group for short). Registered capital was 150 million Yuan, 2017-3-30 http://www.cninfo.com.cn
including 90 million Yuan cash contributed by the Company, and 60 million (No.: 2017-010)
Yuan or equivalent US dollar invested by Candy Group in cash.
The resolution of the 19th meeting of the Board of Directors of the company 2017-3-30 Juchao Website:
13
Hefei Meiling Co., Ltd.The First Quarterly Report of 2017
passed and agreed the company to apply for a special credit line of bank notes http://www.cninfo.com.cn
pool with a maximum of 300 million Yuan to China Merchants Bank Co., Ltd. (No.: 2017-010; 2017-019)
Hefei Branch, and the credit term was one year, the credit variety was mainly
used in bank notes pool special business, and adopted bill pledge.
2017-1-24,
In reporting period, the Company purchased bank products and trust financial Juchao Website:
2017-2-16,
products with owned capital of 477 million Yuan, purchased guaranteed http://www.cninfo.com.cn
2017-3-23,
financial products with idle raised-fund of 400 million Yuan (ended as the (No.: 2017-002; 2017-003;
2017-3-25,
Period, accumulated 900 million Yuan guaranteed financial products are 2017-008; 2017-009; 2017-020;
2017-4-1,
purchased by the Company with idle raised fund) 2017-021)
2017-4-8
III. Commitments completed in Period and those without completed till end of the Period from actual
controller, shareholders, related parties, purchaser and companies
□ Applicable √ Not applicable
The Company has no commitments completed in Period and those without completed till end of the Period
from actual controller, shareholders, related parties, purchaser and companies
IV. Forecast of operation performance from Jan. – June of 2017
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. Derivative investment
√ Applicable □Not applicable
14
Hefei Meiling Co., Ltd.The First Quarterly Report of 2017
In 10 thousand Yuan
Ratio of
Amount of
Whether Amount sales Investmen investment amount
Related Investment Amount reserve for Actual
related Initial in the t amount at period-end in
Operator relations Type Start date End date amount at purchased in the devaluation of gains/losses
trade or investment reporting at net assets of the
hip period-begin reporting period withdrawing in period
not period period-end Company at
(if applicable)
period-end
Forward foreign
Financial
N/A No exchange 63,230.44 2016-6-8 2018-1-24 37,890.69 56,274.11 30,764.62 N/A 63,230.44 12.09% 169.74
institution
contract
Total 63,230.44 -- -- 37,890.69 56,274.11 30,764.62 N/A 63,230.44 12.09% 169.74
Capital resource(if applicable) Self-owned capital
Lawsuit involved (if applicable) Not applicable
Disclosure date for approval from the Board for
2016-3-19
investment of derivatives (if applicable)
Disclosure date for approval from board of
shareholders for investment of derivatives (if 2016-4-7
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
Risk analysis and controlling measures for
sale prices, exchange rate fluctuations. The Company will follow up the exchange fluctuation, on the basis of target rate determined from the business,
derivatives holdings in the Period (including but not
relying on the research of the foreign currency exchange rates, combined with prediction of consignments, and burdening ability to price variations due
limited to market risk, liquidity risk, credit risks,
to exchange rate fluctuations, then determine the plan of forward foreign exchange contracts, and make dynamic management to the business, to ensure
operation risk and law risks etc.)
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
15
Hefei Meiling Co., Ltd.The First Quarterly Report of 2017
company funds.
3. Bank default risk: if cooperative banks collapse within the contract time, the Company will not be able to transact the original foreign exchange
contracts with contract price, which leads the risk of income uncertainty. So the Company chose Bank of China, Agricultural Bank of China, Industrial
and Commercial Bank of China, China Construction Bank and other Chinese Banks and part of the larger foreign Banks (such as Deutsche Bank,
UOB, Overseas Chinese Bank, HSBC, etc.) to conduct the trading of 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.。
Invested derivative products have changes in market The Company determines fair value in accordance with the Chapter VII “Determination of Fair Value” carried in the Accounting Standards for
price or fair value in the Period, as for analysis of Business Enterprises No.22 - Recognition and Measurement of Financial Instruments. Fair-value is basically obtained according to prices offered by
the fair value of derivatives, disclosed specific bank and other pricing services. While fair-value of derivatives is mainly obtained according to the balance between prices given by outstanding
applied methods and correlation assumption and contracts and forward prices given by contracts signed during the reporting period with bank. The differences are identified as trading financial assets
parameter setting and liabilities. During the reporting period, forward foreign exchange contracts and losses of the Company is RMB 1,697,400.
Specific principle of the accounting policy and
calculation for derivatives in the Period compared Not applicable
with last period in aspect of major changes
Upon inspection, the independent directors of the Company believes that: during the reporting period, the Company carried out its foreign exchange
forward deals in strict compliance with the standardized operation guidelines for listed issuer on main board (2015 amended) issued by Shenzhen Stock
Exchange, the Articles of Association, Authorization Management of the Company, Management System in relating to Foreign Exchange Forward
Deals of Hefei Meiling Co., Ltd., and these deals were conducted within the authorization scope under general meeting and board meeting. The
Special opinion on derivative investment and risk Company conducts no foreign exchange transactions on the purpose of getting profit only, all of the forward foreign exchange transactions are operates
control by independent directors based on normal operating and production, which is relying on specific business operations with purpose of avoiding the preventing the risks in
exchange rate. The forward foreign exchange transactions of the Company are beneficial to prevent the exchange risks exposed by import and export
business and thus met its requirement for operation development. There was no speculative operation, no break of relevant rules and regulations and
relevant business was conducted under corresponding decision-making procedures. Interests of the Company and entire shareholders, especially
minority shareholders, were not prejudiced.
16
Hefei Meiling Co., Ltd.The First Quarterly Report of 2017
VII. Registration form for receiving research, communication and interview in the report period
√ Applicable □Not applicable
Time Way Type Basic situation index of investigation
2017-1-12 Field research Institute http://irm.cninfo.com.cn/ircs/ssgs/companyIrmForSzse.do?stockcode=000521
2017-1-18 Field research Institute http://irm.cninfo.com.cn/ircs/ssgs/companyIrmForSzse.do?stockcode=000521
2017-2-15 Field research Institute http://irm.cninfo.com.cn/ircs/ssgs/companyIrmForSzse.do?stockcode=000521
2017-2-24 Field research Institute http://irm.cninfo.com.cn/ircs/ssgs/companyIrmForSzse.do?stockcode=000521
VIII. Guarantee outside against the regulation
□Applicable √Not applicable
The Company had no guarantee outside against the regulation in the reporting period.
IX. Non-operational fund occupation from controlling shareholders and its related party
□ Applicable √ Not applicable
The Company had no non-operational fund occupation from controlling shareholders or its related party in
the reporting period.
17
Hefei Meiling Co., Ltd.The First Quarterly Report of 2017
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 4,387,264,191.76 4,058,869,234.63
Settlement provisions
Capital lent
Financial liability measured by fair
value and with variation reckoned into 13,876,249.03 12,060,213.30
current gains/losses
Derivative financial liability
Notes receivable 1,846,882,354.71 1,421,429,723.73
Accounts receivable 1,366,799,283.25 1,118,960,552.49
Accounts paid in advance 192,418,144.94 134,706,488.38
Insurance receivable
Reinsurance receivables
Contract reserve of reinsurance
receivable
Interest receivable 2,960,006.68 2,645,494.32
Dividend receivable
Other receivables 67,095,307.03 39,553,919.44
Purchase restituted finance asset
Inventories 2,580,866,215.12 1,974,526,734.86
Divided into assets held for sale
Non-current asset due within one
year
46,984,233.00 12,625,340.00
Other current assets 1,869,704,048.05 1,454,346,297.42
Total current assets 12,374,850,033.57 10,229,723,998.57
Non-current assets:
Loans and payments on behalf
18
Hefei Meiling Co., Ltd.The First Quarterly Report of 2017
Finance asset available for sales 17,000,000.00 17,000,000.00
Held-to-maturity investment
Long-term account receivable
Long-term equity investment 93,207,751.18 81,643,631.37
Investment property 13,073,485.86 13,275,631.40
Fixed assets 1,179,381,188.63 1,204,093,169.72
Construction in progress 137,454,259.37 107,037,409.95
Engineering material
Disposal of fixed asset 75,834,950.69 75,788,138.47
Productive biological asset
Oil and gas asset
Intangible assets 602,076,289.14 613,969,271.63
Expense on Research and
Development
57,494,500.45 45,023,750.60
Goodwill
Long-term expenses to be
apportioned
1,526,586.33 1,132,075.48
Deferred income tax asset 83,517,585.82 84,264,603.65
Other non-current asset - 34,615,630.00
Total non-current asset 2,260,566,597.47 2,277,843,312.27
Total assets 14,635,416,631.04 12,507,567,310.84
Current liabilities:
Short-term loans 564,267,373.25 288,343,724.73
Loan from central bank
Absorbing deposit and interbank
deposit
Capital borrowed
Financial liability measured by fair
value and with variation reckoned into 308,452.50 559,249.58
current gains/losses
Derivative financial liability
Notes payable 3,618,196,887.91 2,635,051,740.30
Accounts payable 3,119,782,224.32 2,331,899,310.82
Accounts received in advance 436,542,611.75 390,935,440.46
Selling financial asset of
repurchase
Commission charge and
commission payable
19
Hefei Meiling Co., Ltd.The First Quarterly Report of 2017
Wage payable 129,841,677.10 189,592,039.00
Taxes payable 51,947,328.80 59,849,032.13
Interest payable 249,686.32 1,617,352.01
Dividend payable 2,545,801.23 2,545,801.23
Other accounts payable 681,930,681.87 622,580,323.43
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
year
309,908,018.01 272,202,590.10
Other current liabilities
Total current liabilities 8,915,520,743.06 6,795,176,603.79
Non-current liabilities:
Long-term loans 4,751,000.00 38,908,788.00
Bonds payable
Including: preferred stock
Perpetual capital
securities
Long-term account payable
Long-term wages payable 28,061,416.36 29,696,403.85
Special accounts payable 980,000.00 1,400,000.00
Projected liabilities 330,050,549.13 331,575,430.79
Deferred income 126,091,425.29 142,919,562.49
Deferred income tax liabilities 2,081,437.35 1,809,032.00
Other non-current liabilities
Total non-current liabilities 492,015,828.13 546,309,217.13
Total liabilities 9,407,536,571.19 7,341,485,820.92
Owner’s equity:
Share capital 1,044,597,881.00 1,044,597,881.00
Other equity instrument
Including: preferred stock
Perpetual capital
securities
Capital public reserve 2,687,961,060.65 2,687,961,060.65
20
Hefei Meiling Co., Ltd.The First Quarterly Report of 2017
Less: Inventory shares
Other comprehensive income 3,140,807.74 3,474,546.95
Reasonable reserve
Surplus public reserve 391,029,420.33 391,029,420.33
Provision of general risk
Retained profit 1,029,401,100.54 968,097,382.98
Total owner’s equity attributable to
parent company
5,156,130,270.26 5,095,160,291.91
Minority interests 71,749,789.59 70,921,198.01
Total owner’s equity 5,227,880,059.85 5,166,081,489.92
Total liabilities and owner’s equity 14,635,416,631.04 12,507,567,310.84
Legal Representative: Liu Tibin
Person in charge of accounting works: Zhang Xiaolong
Person in charge of accounting institute: Luo Bo
2. Balance Sheet of Parent Company
In RMB
Item Closing balance Opening balance
Current assets:
Monetary funds 3,086,421,708.08 3,071,362,771.31
Financial liability measured by fair
value and with variation reckoned into 13,876,249.03 12,060,213.30
current gains/losses
Derivative financial liability
Notes receivable 1,280,648,402.63 1,053,598,721.93
Accounts receivable 874,487,724.04 1,006,701,894.37
Account paid in advance 285,675,175.03 106,947,474.25
Interest receivable
Dividends receivable
Other receivables 64,216,815.48 26,742,423.95
Inventories 1,235,796,884.57 1,017,090,374.81
Divided into assets held for sale
Non-current assets maturing within
one year
Other current assets 1,829,573,853.91 1,427,283,451.40
Total current assets 8,670,696,812.77 7,721,787,325.32
Non-current assets:
21
Hefei Meiling Co., Ltd.The First Quarterly Report of 2017
Available-for-sale financial assets 17,000,000.00 17,000,000.00
Held-to-maturity investments
Long-term receivables
Long-term equity investments 994,626,656.75 992,282,289.21
Investment property 11,213,543.14 11,332,015.32
Fixed assets 844,189,349.75 861,163,999.99
Construction in progress 23,062,026.10 19,478,121.20
Project materials
Disposal of fixed assets 43,528,935.29 43,494,954.71
Productive biological assets
Oil and natural gas assets
Intangible assets 426,021,982.94 430,435,091.82
Research and development costs 13,504,119.22 12,797,092.26
Goodwill
Long-term deferred expenses
Deferred income tax assets 68,237,610.29 69,138,686.26
Other non-current assets
Total non-current assets 2,441,384,223.48 2,457,122,250.77
Total assets 11,112,081,036.25 10,178,909,576.09
Current liabilities:
Short-term borrowings 497,220,823.25 261,843,724.73
Financial liability measured by fair
value and with variation reckoned into 308,452.50 -
current gains/losses
Derivative financial liability
Notes payable 2,234,654,075.59 1,734,774,950.13
Accounts payable 1,745,414,096.74 1,521,019,717.86
Accounts received in advance 94,657,012.35 104,205,506.34
Wage payable 40,963,246.24 57,714,577.87
Taxes payable 19,533,040.38 25,677,906.64
Interest payable 249,686.32 1,617,352.01
Dividend payable 2,545,801.23 2,545,801.23
Other accounts payable 610,185,989.34 634,561,307.52
Divided into liability held for sale
22
Hefei Meiling Co., Ltd.The First Quarterly Report of 2017
Non-current liabilities due within 1
257,734,651.20 257,750,238.18
year
Other current liabilities
Total current liabilities 5,503,466,875.14 4,601,711,082.51
Non-current liabilities:
Long-term loans 4,751,000.00 4,751,000.00
Bonds payable
Including: preferred stock
Perpetual capital
securities
Long-term account payable
Long-term wages payable 28,061,416.36 29,696,403.85
Special accounts payable
Projected liabilities 330,050,549.13 331,575,430.79
Deferred income 62,683,214.36 64,601,290.18
Deferred income tax liabilities 2,081,437.35 1,809,032.00
Other non-current liabilities
Total non-current liabilities 427,627,617.20 432,433,156.82
Total liabilities 5,931,094,492.34 5,034,144,239.33
Owners’ equity:
Share capita 1,044,597,881.00 1,044,597,881.00
Other equity instrument
Including: preferred stock
Perpetual capital
securities
Capital public reserve 2,753,017,007.10 2,753,017,007.10
Less: Inventory shares
Other comprehensive income
Reasonable reserve
Surplus reserve 390,811,254.65 390,811,254.65
Retained profit 992,560,401.16 956,339,194.01
Total owner’s equity 5,180,986,543.91 5,144,765,336.76
Total liabilities and owner’s equity 11,112,081,036.25 10,178,909,576.09
Legal Representative: Liu Tibin
Person in charge of accounting works: Zhang Xiaolong
Person in charge of accounting institute: Luo Bo
23
Hefei Meiling Co., Ltd.The First Quarterly Report of 2017
3. Consolidated Profit Statement
In RMB
Item Current Period Last Period
I. Total operating income 3,666,603,957.50 2,926,400,488.89
Including: Operating income 3,666,603,957.50 2,926,400,488.89
Interest income
Insurance gained
Commission charge and commission
income
II. Total operating cost 3,614,321,385.47 2,877,106,988.41
Including: Operating cost 2,934,581,098.67 2,286,732,134.67
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 28,783,478.79 27,786,160.01
Sales expenses 541,328,415.48 451,951,041.92
Administration expenses 112,056,183.22 97,624,683.46
Financial expenses -17,885,269.18 -5,371,504.22
Losses of devaluation of asset 15,457,478.49 18,384,472.57
Add: Changing income of fair
1,507,583.23 -
value(Loss is listed with “-”)
Investment income (Loss is listed
12,860,815.50 358,659.99
with “-”)
Including: Investment income on
-1,036,950.02 -4,627,641.38
affiliated company and joint venture
Exchange income (Loss is listed
with “-”)
III. Operating profit (Loss is listed with
66,650,970.76 49,652,160.47
“-”)
24
Hefei Meiling Co., Ltd.The First Quarterly Report of 2017
Add: Non-operating income 16,629,279.66 10,126,101.23
Including: Disposal gains of
16,683.33 137,329.94
non-current asset
Less: Non-operating expense 10,608,339.93 590,032.72
Including: Disposal loss of
10,605,012.04 324,113.57
non-current asset
IV. Total Profit (Loss is listed with “-”) 72,671,910.49 59,188,228.98
Less: Income tax expense 10,357,138.93 6,528,778.06
V. Net profit (Net loss is listed with “-”) 62,314,771.56 52,659,450.92
Net profit attributable to owner’s of
61,303,717.56 53,709,680.24
parent company
Minority shareholders’ gains and
1,011,054.00 -1,050,229.32
losses
VI. Net after-tax of other comprehensive
-513,283.80 -401,296.49
income
Net after-tax of other comprehensive
income attributable to owners of parent -333,739.21 -282,910.76
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 -333,739.21 -282,910.76
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
25
Hefei Meiling Co., Ltd.The First Quarterly Report of 2017
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 -333,739.21 -282,910.76
financial statements
6. Other
Net after-tax of other comprehensive
income attributable to minority -179,544.59 -118,385.73
shareholders
VII. Total comprehensive income 61,801,487.76 52,258,154.43
Total comprehensive income
60,969,978.35 53,426,769.48
attributable to owners of parent Company
Total comprehensive income
831,509.41 -1,168,615.05
attributable to minority shareholders
VIII. Earnings per share:
(i) Basic earnings per share 0.0587 0.0703
(ii) Diluted earnings per share 0.0587 0.0703
Legal Representative: Liu Tibin
Person in charge of accounting works: Zhang Xiaolong
Person in charge of accounting institute: Luo Bo
4. Profit Statement of Parent Company
In RMB
Item Current Period Last Period
I. Operating income 1,934,766,853.38 1,550,458,365.77
Less: Operating cost 1,767,844,331.87 1,305,236,415.06
Operating tax and extras 14,808,515.57 12,227,268.52
Sales expenses 91,268,818.65 163,483,635.62
Administration expenses 54,006,692.81 46,061,487.37
Financial expenses -15,115,474.14 -7,456,125.90
Losses of devaluation of asset -1,527,203.79 -140,138.17
Add: Changing income of fair
1,507,583.23 -
value(Loss is listed with “-”)
26
Hefei Meiling Co., Ltd.The First Quarterly Report of 2017
Investment income (Loss is
15,714,133.06 5,760,147.93
listed with “-”)
Including: Investment income
1,816,367.54 773,846.56
on affiliated company and joint venture
II. Operating profit (Loss is listed
40,702,888.70 36,805,971.20
with “-”)
Add: Non-operating income 3,746,138.59 7,031,366.56
Including: Disposal gains of
- 92,759.42
non-current asset
Less: Non-operating expense 906,200.26 310,277.05
Including: Disposal loss of
902,891.26 244,077.48
non-current asset
III. Total Profit (Loss is listed with
43,542,827.03 43,527,060.71
“-”)
Less: Income tax expense 7,321,619.88 6,541,602.43
IV. Net profit (Net loss is listed with
36,221,207.15 36,985,458.28
“-”)
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
27
Hefei Meiling Co., Ltd.The First Quarterly Report of 2017
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 36,221,207.15 36,985,458.28
VII. Earnings per share:
(i) Basic earnings per share 0.0347 0.0484
(ii) Diluted earnings per share 0.0347 0.0484
Legal Representative: Liu Tibin
Person in charge of accounting works: Zhang Xiaolong
Person in charge of accounting institute: Luo Bo
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 3,620,133,971.51 2,763,169,371.62
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
28
Hefei Meiling Co., Ltd.The First Quarterly Report of 2017
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 58,851,023.20 73,998,123.72
Other cash received concerning
10,074,167.07 10,898,715.23
operating activities
Subtotal of cash inflow arising from
3,689,059,161.78 2,848,066,210.57
operating activities
Cash paid for purchasing
commodities and receiving labor 2,524,208,265.91 2,164,889,172.42
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 332,772,781.98 329,027,920.11
Taxes paid 95,836,698.03 79,046,193.58
Other cash paid concerning
184,970,402.42 135,505,177.34
operating activities
Subtotal of cash outflow arising from
3,137,788,148.34 2,708,468,463.45
operating activities
Net cash flows arising from operating
551,271,013.44 139,597,747.12
activities
II. Cash flows arising from investing
activities:
Cash received from recovering 430,000,000.00 500,000,000.00
29
Hefei Meiling Co., Ltd.The First Quarterly Report of 2017
investment
Cash received from investment
5,688,957.18 4,986,301.37
income
Net cash received from disposal of
fixed, intangible and other long-term 679,858.84 216,587.52
assets
Net cash received from disposal of
subsidiaries and other units
Other cash received concerning
24,352,099.28 11,813,596.67
investing activities
Subtotal of cash inflow from investing
460,720,915.30 517,016,485.56
activities
Cash paid for purchasing fixed,
66,731,962.61 36,348,248.79
intangible and other long-term assets
Cash paid for investment 850,000,000.00 95,983,860.00
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
916,731,962.61 132,332,108.79
activities
Net cash flows arising from investing
-456,011,047.31 384,684,376.77
activities
III. Cash flows arising from financing
activities
Cash received from absorbing
- 16,661,794.74
investment
Including: Cash received from
absorbing minority shareholders’
investment by subsidiaries
Cash received from loans 436,482,592.50 384,191,670.80
Cash received from issuing bonds
Other cash received concerning
- 3,451.80
financing activities
Subtotal of cash inflow from financing
436,482,592.50 400,856,917.34
activities
Cash paid for settling debts 261,250,000.00 48,119,369.00
30
Hefei Meiling Co., Ltd.The First Quarterly Report of 2017
Cash paid for dividend and profit
2,890,153.13 2,013,571.61
distributing or interest paying
Including: Dividend and profit of
minority shareholder paid by
subsidiaries
Other cash paid concerning
financing activities
Subtotal of cash outflow from
264,140,153.13 50,132,940.61
financing activities
Net cash flows arising from financing
172,342,439.37 350,723,976.73
activities
IV. Influence on cash and cash
equivalents due to fluctuation in 9,570,512.21 -5,770,988.16
exchange rate
V. Net increase of cash and cash
277,172,917.71 869,235,112.46
equivalents
Add: Balance of cash and cash
3,986,098,419.76 2,121,161,238.01
equivalents at the period -begin
VI. Balance of cash and cash
4,263,271,337.47 2,990,396,350.47
equivalents at the period -end
Legal Representative: Liu Tibin
Person in charge of accounting works: Zhang Xiaolong
Person in charge of accounting institute: Luo Bo
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 2,104,461,575.79 1,459,425,734.39
services
Write-back of tax received 17,767,311.59 42,807,549.95
Other cash received concerning
5,428,029.20 5,404,054.78
operating activities
Subtotal of cash inflow arising from
2,127,656,916.58 1,507,637,339.12
operating activities
Cash paid for purchasing
1,752,073,860.12 1,197,030,174.41
commodities and receiving labor
31
Hefei Meiling Co., Ltd.The First Quarterly Report of 2017
service
Cash paid to/for staff and workers 146,858,607.87 134,305,529.47
Taxes paid 26,420,881.15 21,297,508.43
Other cash paid concerning
54,920,570.75 60,265,931.74
operating activities
Subtotal of cash outflow arising from
1,980,273,919.89 1,412,899,144.05
operating activities
Net cash flows arising from operating
147,382,996.69 94,738,195.07
activities
II. Cash flows arising from investing
activities:
Cash received from recovering
430,000,000.00 500,000,000.00
investment
Cash received from investment
5,688,957.18 4,986,301.37
income
Net cash received from disposal of
fixed, intangible and other long-term 566,647.40 205,587.52
assets
Net cash received from disposal of
subsidiaries and other units
Other cash received concerning
18,500,025.97 7,772,259.09
investing activities
Subtotal of cash inflow from investing
454,755,630.55 512,964,147.98
activities
Cash paid for purchasing fixed,
32,845,762.65 24,183,155.13
intangible and other long-term assets
Cash paid for investment 850,528,000.00 95,650,000.00
Net cash received from
subsidiaries and other units
Other cash paid concerning
investing activities
Subtotal of cash outflow from investing
883,373,762.65 119,833,155.13
activities
Net cash flows arising from investing
-428,618,132.10 393,130,992.85
activities
III. Cash flows arising from financing
activities
Cash received from absorbing
32
Hefei Meiling Co., Ltd.The First Quarterly Report of 2017
investment
Cash received from loans 396,526,192.50 380,831,650.44
Cash received from issuing bonds
Other cash received concerning
158,844,058.57 9,427,786.43
financing activities
Subtotal of cash inflow from financing
555,370,251.07 390,259,436.87
activities
Cash paid for settling debts 261,250,000.00 35,028,969.00
Cash paid for dividend and profit
2,309,091.67 1,601,868.57
distributing or interest paying
Other cash paid concerning
1,788,556.49 96,569.57
financing activities
Subtotal of cash outflow from
265,347,648.16 36,727,407.14
financing activities
Net cash flows arising from financing
290,022,602.91 353,532,029.73
activities
IV. Influence on cash and cash
equivalents due to fluctuation in 8,527,359.66 -5,237,628.13
exchange rate
V. Net increase of cash and cash
17,314,827.16 836,163,589.52
equivalents
Add: Balance of cash and cash
3,067,671,385.08 1,654,499,494.28
equivalents at the period -begin
VI. Balance of cash and cash
3,084,986,212.24 2,490,663,083.80
equivalents at the period -end
II. Audit report
Whether the 1st quarterly report has been audited or not
□Yes √ No
The 1st quarterly report of the Company has not been audited
Hefei Meiling Co., Ltd.
Chairman: Liu Tibin
18 April 2017
33
