Hefei Meiling Co., Ltd. The 1st Quarterly Report For 2009(Full Text)
1
Hefei Meiling Co., Ltd.
The 1st Quarterly Report For 2009
(Full Text)
§1. Important Notice
1.1 The Board of Directors and Supervisory Committee of Hefei Meiling Co., Ltd. (hereinafter
referred to as the Company) and its directors, supervisors and senior executives hereby confirm that
there are not any fictitious statements, misleading information and important omissions carried in
this report, and shall take all responsibilities, individual and/or joint, for the reality, accuracy and
completion of the whole contents.
1.2 The Financial Report For the 1st Quarterly of the Company has not been audited by CPAs.
1.3 Principal of the Company Mr. Zhao Yong, Person in charge of Accounting Works Mr. Yu
Wanchun, and Person in charge of Accounting Organ (Accounting Supervisor) Mr. Wang Shaozhuo
hereby confirm that the Financial Report enclosed in the 1st Quarterly Report is true and complete.
§2. Company Profile
2.1 Main Accounting Highlights and Financial Indexes:
Unit: RMB
At the end of the report
period At the end of the last year Changes of
increase/decrease (%)
Total assets 3,619,233,846.80 3,390,314,408.86 6.75%
Equity attributable to owners of
the parent company 1,112,495,778.28 1,060,231,039.59 4.93%
Share capital 413,642,949.00 413,642,949.00
Net asset per share attributable to
owners of the parent company 2.69 2.56 5.08%
In the report period The same period of last
year
Changes of
increase/decrease (%)
Total operating income 949,313,312.18 1,042,391,226.21 -8.93%
Net profit attributable to owners
of the parent company 6,949,538.69 6,548,864.95 6.12%
Net cash flow arising from
operating activities -37,349,716.69 -33,929,347.47 -10.08%
Net cash flow arising from
operating activities per share -0.090 -0.082
Basic earnings per share 0.0168 0.0158 6.33%
Diluted earnings per share 0.0168 0.0158 6.33%
Return on equity 0.62% 0.62% 0.00%
Return on equity after deducting
the non-recurring losses and
gains
0.52% 0.69% -0.17%
Items of non-recurring gains and losses Amount in year-begin to
the end of report period
Gains and losses from the disposal of non-current asset -2,164.13
Governmental subsidy calculated into current gains and losses, while closely related
with the business of the Company, excluding the fixed-amount or fixed-proportion
governmental subsidy according to the unified national standard
1,125,416.00
Other non-operating income and expenditure beside for the above items 36,740.15Hefei Meiling Co., Ltd. The 1st Quarterly Report For
2009(Full Text)
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Total 1,159,992.02
Explanations on items of non-recurring gains and losses
The aforementioned RMB 1,125,416.00 was the governmental subsidy.
2.2 Total number of shareholders at the end of the report period and shares held by the top ten
shareholders with unrestricted conditions
Unit: Share
Total number of shareholders
at the end of report period 73,543
Particulars about the shares held by the top ten tradable shareholders with unrestricted conditions
Full Name of shareholder
Amount of tradable shares with
unrestricted conditions held at the
end of report period
Type of shares
Changhong (Hong Kong) Trade Co., Ltd. 13,480,803 Domestically listed foreign share
CAO SHENGHUN 5,815,247 Domestically listed foreign share
Sichuan Changhong Electric Co., Ltd 4,227,155 RMB common share
Xiang Shengfu 2,607,398 RMB common share
Long Qinfang 2,098,366 Domestically listed foreign share
SHANGHAI WORLD TRADE
AUTOMOBILE CO. , LTD. 1,900,000 RMB common share
CHEN YI QING 1,608,859 Domestically listed foreign share
Wang Siliang 1,516,984 RMB common share
Wo Liangliang 1,450,000 RMB common share
Anhui Guofeng Group Co., Ltd. 1,447,259 RMB common share
§3. Significant events
3.1 Particulars about material changes in items of main accounting statement and financial index,
and explanations of reasons
□Applicable √Inapplicable
3.2 Analysis and explanation of significant events and their influence and solutions
□Applicable √Inapplicable
3.3 Implementations of commitments by the Company, shareholders and actual controller
□Applicable √Inapplicable
3.4 Estimation of accumulative net profit from the beginning of the year to the end of next report
period to be loss probably or the warning of its material change compared with the corresponding
period of the last year and explanation of reason
□Applicable √Inapplicable
3.5 Other significant events which need explanations
3.5.1 Particulars about securities investment
√Applicable □Inapplicable
Unit: RMB
No. Securities
kinds Stock code Short form of
the stock
Initial
investment
amount
(RMB)
Amount held
(Share)
Book value at
period-end
(RMB)
Total
investment
proportion
of securities
Gains and
losses in report
period
(RMB)Hefei Meiling Co., Ltd. The 1st Quarterly Report For 2009(Full Text)
3
in
period-end
(%)
1 Stock 601601 China Pacific
Insurance 580,000.00 1,000,000.00 16,780,000.00 7.64% 0.00
2 Stock 002230 USTC
iFLYTEK 18,960,000.00 6,600,000.00 202,752,000.00 92.36% 0.00
Other stock investment held at the end of
report period 0.00 - 0.00 0.00% 0.00
Gain/loss of the sold securities investment in
the report period - - - - 0.00
Total 19,540,000.00 - 219,532,000.00 100% 0.00
Explanations on securities investment
China Pacific Insurance was held by initial investment, and USTC iFLYTEK was purchased from
Hefei Meiling (Group) Holdings Co., Ltd.
3.5.2 Registration form for receiving research, communication and interview in the report period.
Date Place Way The received
parties
Contents discussed and materials
supplied
March 11, 2009 Office of the
Company Spot investigation Ta Chong
Securities Operation status of the Company
March 20, 2009 Office of the
Company Spot investigation China Securities
Journal Operation status of the Company
3.5.3 Particulars about the explanations on other significant events
□Applicable √Inapplicable
§4. Appendix
4.1 Balance sheet
Prepared by Hefei Meiling Co., Ltd. March 31, 2009 Unit: RMB
Balance at Items Merger pePriaorde-netn Cd ompany MerBgaelra n ce at yePara-rbeengt iCn ompany
Current assets:
Monetary funds 334,786,543.38 300,703,559.33 338,230,921.44 306,127,639.14
Settlement provisions
Capital lent
Transaction finance asset
Notes receivable 425,495,425.84 425,495,425.84 176,893,815.75 176,893,815.75
Accounts receivable 289,415,113.61 276,435,955.76 282,278,322.28 283,645,063.75
Accounts paid in advance 107,851,733.46 78,550,296.95 134,938,234.66 87,116,862.99
Insurance receivable
Reinsurance receivables
Contract reserve of
reinsurance receivable
Interest receivable
Dividend receivable
Other receivables 49,497,171.70 48,459,846.23 40,200,759.80 39,517,439.05
Purchase restituted finance
asset
Inventories 494,497,045.30 489,274,535.23 538,043,077.21 522,957,717.07Hefei Meiling Co., Ltd. The 1st Quarterly Report For 2009(Full
Text)
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Non-current asset due within
one year
Other current assets
Total current assets 1,701,543,033.29 1,618,919,619.34 1,510,585,131.14 1,416,258,537.75
Non-current assets:
Granted loans and advances
Finance asset available for
sales 219,532,000.00 219,532,000.00 166,220,000.00 166,220,000.00
Held-to-maturity securities
Long-term account
receivable
Long-term equity investment 32,058,769.12 184,199,441.99 32,058,769.12 139,199,441.99
Investment property 4,626,535.50 4,626,535.50 4,082,185.28 4,082,185.28
Fixed assets 659,374,962.22 467,094,168.87 667,231,824.31 482,330,683.29
Construction in progress 59,478,651.14 59,478,651.14 60,139,261.97 60,139,261.97
Engineering material
Disposal of fixed asset 356,994,418.37 356,994,418.37 358,013,123.80 358,013,123.80
Productive biological asset
Oil and gas asset
Intangible assets 572,317,979.44 568,380,479.44 579,003,366.14 574,503,366.14
Expense on Research and
Development
Goodwill
Long-term expenses to be
apportioned
Deferred income tax asset 13,307,497.72 12,827,830.04 12,980,747.10 12,501,079.42
Other non-current asset
Total non-current asset 1,917,690,813.51 1,873,133,525.35 1,879,729,277.72 1,796,989,141.89
Total assets 3,619,233,846.80 3,492,053,144.69 3,390,314,408.86 3,213,247,679.64
Current liabilities:
Short-term loans 381,882,409.24 361,882,409.24 336,427,193.11 306,427,193.11
Loan from central bank
Absorbing deposit and
interbank deposit
Capital borrowed
Transaction financial
liabilities
Notes payable 556,581,718.59 539,495,781.95 584,560,526.09 582,245,703.75
Accounts payable 716,224,814.33 736,860,574.56 636,288,350.79 657,248,796.03
Accounts received in
advance 328,181,557.46 383,029,905.40 319,411,065.64 318,498,724.58
Selling financial asset of
repurchase
Commission charge and
commission payable
Wage payable 28,583,871.89 27,393,481.42 27,873,906.64 26,863,214.71
Taxes payable 22,366,996.93 23,808,125.49 13,616,162.10 15,213,301.43
Interest payable
Dividend payable 1,387,950.42 1,387,950.42 1,387,950.42 1,387,950.42
Other accounts payable 404,506,729.97 244,510,642.72 350,937,168.31 197,903,731.23
Reinsurance payables
Insurance contract reserve
Security trading of agency
Security sales of agency
Non-current liabilities dueHefei Meiling Co., Ltd. The 1st Quarterly Report For 2009(Full Text)
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within 1 year
Other current liabilities
Total current liabilities 2,439,716,048.83 2,318,368,871.20 2,270,502,323.10 2,105,788,615.26
Non-current liabilities:
Long-term loans 19,198,200.00 16,198,200.00 19,198,200.00 16,198,200.00
Bonds payable
Long-term account payable
Special accounts payable
Projected liabilities 1,650,759.86 1,650,759.86 1,650,759.86 1,650,759.86
Deferred income tax liabilities 29,998,800.00 29,998,800.00 22,002,000.00 22,002,000.00
Other non-current liabilities
Total non-current liabilities 50,847,759.86 47,847,759.86 42,850,959.86 39,850,959.86
Total liabilities 2,490,563,808.69 2,366,216,631.06 2,313,353,282.96 2,145,639,575.12
Owner’s equity (or shareholders’
equity):
Paid-in capital (or share
capital) 413,642,949.00 413,642,949.00 413,642,949.00 413,642,949.00
Capital public reserve 746,483,278.72 746,483,951.59 701,168,078.72 701,168,751.59
Less: Inventory shares
Surplus public reserve 284,889,548.51 284,889,548.51 284,889,548.51 284,889,548.51
Provision of general risk
Retained profit -332,519,997.95 -319,179,935.47 -339,469,536.64 -332,093,144.58
Balance difference of
foreign currency translation
Total owner’s equity attributable
to parent company 1,112,495,778.28 1,125,836,513.63 1,060,231,039.59 1,067,608,104.52
Minority interests 16,174,259.83 16,730,086.31
Total owner’s equity 1,128,670,038.11 1,125,836,513.63 1,076,961,125.90 1,067,608,104.52
Total liabilities and owner’s
equity 3,619,233,846.80 3,492,053,144.69 3,390,314,408.86 3,213,247,679.64
4.2 Profit statement
Prepared by Hefei Meiling Co., Ltd. Jan.-Mar., 2009 Unit: RMB
Amount i Items Merger n thiPsa preenrito Cd ompany MerAgmero u nt in lasPta preenrito Cd o mpany
I. Total operating income 949,313,312.18 941,020,813.35 1,042,391,226.21 1,053,989,847.32
Including: Operating income 949,313,312.18 941,020,813.35 1,042,391,226.21 1,053,989,847.32
Interest income
Insurance gained
Commission charge and
commission income
II. Total operating cost 942,181,399.86 927,341,202.05 1,038,177,338.92 1,047,809,613.52
Including: Operating cost 678,948,588.43 673,572,487.87 832,239,850.12 847,438,572.42
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 expenseHefei Meiling Co., Ltd. The 1st Quarterly Report For 2009(Full Text)
6
Operating tax and extras 6,741,441.89 6,620,022.47 1,168,623.36 926,373.66
Sales expenses 215,908,486.65 213,622,966.35 161,861,704.09 160,676,413.07
Administration expenses 31,239,231.66 24,783,893.14 29,842,455.43 25,972,450.75
Financial expenses 9,245,618.40 8,643,799.39 12,158,030.32 11,889,128.02
Losses of devaluation of
asset 98,032.83 98,032.83 906,675.60 906,675.60
Add: Changing income of
fair value(Loss is listed with “-”)
Investment income (Loss is
listed with “-”) 1,672,358.00 1,672,358.00
Including: Investment
income on affiliated company
and joint venture
1,672,358.00 1,672,358.00
Exchange income (Loss is
listed with “-”)
III. Operating profit (Loss is
listed with “-”) 7,131,912.32 13,679,611.30 5,886,245.29 7,852,591.80
Add: Non-operating income 1,195,716.78 1,167,514.70 262,474.72 260,304.72
Less: Non-operating
expense 7,322.68 7,322.68 2,728.32 1,339.00
Including: Disposal loss of
non-current asset 2,322.68 2,322.68
IV. Total Profit (Loss is listed
with “-”) 8,320,306.42 14,839,803.32 6,145,991.69 8,111,557.52
Less: Income tax 1,926,594.21 1,926,594.21 -226,668.90 -226,668.90
V. Net profit (Net loss is listed
with “-”) 6,393,712.21 12,913,209.11 6,372,660.59 8,338,226.42
Net profit attributable to
owner’s equity of parent
company
6,949,538.69 12,913,209.11 6,548,864.95 8,338,226.42
Minority shareholders’ gains
and losses
VI. Earnings per share
i. Basic earnings per share 0.0168 0.0168 0.0158 0.0202
ii. Diluted earnings per share 0.0168 0.0168 0.0158 0.0202
4.3 Cash flow statement
Prepared by Hefei Meiling Co., Ltd. Jan.-Mar., 2009 Unit: RMB
Amount i Items Merger n thiPsa preenrito Cd ompany MerAgmero u nt in lasPta preenrito Cd o mpany
I. Cash flows arising from
operating activities:
Cash received from selling
commodities and providing labor
services
463,952,729.60 452,089,052.70 466,712,167.05 471,295,820.57
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 feeHefei Meiling Co., Ltd. The 1st Quarterly Report For 2009(Full Text)
7
Net cash received from
reinsurance business
Insured savings and net
increase of investment
Net increase of disposal of
transaction financial asset
Cash received from interest,
commission charge and
commission
Net increase of capital
borrowed
Net increase of returned
business capital
Write-back of tax received 20,233,538.44 20,233,538.44
Other cash received
concerning operating activities 6,185,646.54 6,154,668.44 4,720,646.20 4,713,477.28
Subtotal of cash inflow
arising from operating activities 470,138,376.14 458,243,721.14 491,666,351.69 496,242,836.29
Cash paid for purchasing
commodities and receiving labor
service
291,601,868.78 306,809,577.51 389,723,177.62 383,837,573.91
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 27,330,987.34 23,375,011.03 48,799,961.68 44,564,813.16
Taxes paid 53,530,124.59 51,841,453.90 6,955,749.03 2,361,671.43
Other cash paid concerning
operating activities 135,025,112.12 132,610,382.45 80,116,810.83 77,301,841.74
Subtotal of cash outflow
arising from operating activities 507,488,092.83 514,636,424.89 525,595,699.16 508,065,900.24
Net cash flows arising from
operating activities -37,349,716.69 -56,392,703.75 -33,929,347.47 -11,823,063.95
II. Cash flows arising from
investing activities:
Cash received from
recovering investment
Cash received from
investment income 1,650,000.00 1,650,000.00
Net cash received from
disposal of fixed, intangible and
other long-term assets
1,054,227.64 50,554,227.64 2,750.00 2,750.00
Net cash received from
disposal of subsidiaries and other
units
Other cash received
concerning investing activities 978,098.94 862,333.11 1,249,520.35 1,135,015.05
Subtotal of cash inflow from 2,032,326.58 51,416,560.75 2,902,270.35 2,787,765.05Hefei Meiling Co., Ltd.
The 1st Quarterly Report For 2009(Full Text)
8
investing activities
Cash paid for purchasing
fixed, intangible and other
long-term assets
8,919,414.24 6,585,510.60 21,985,052.67 19,507,047.55
Cash paid for investment 45,000,000.00 20,367,400.00 20,367,400.00
Net increase of mortgaged
loans
Net cash received from
subsidiaries and other units
Other cash paid concerning
investing activities
Subtotal of cash outflow from
investing activities 8,919,414.24 51,585,510.60 42,352,452.67 39,874,447.55
Net cash flows arising from
investing activities -6,887,087.66 -168,949.85 -39,450,182.32 -37,086,682.50
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 159,662,683.49 159,662,683.49 155,490,866.82 135,490,866.82
Cash received from issuing
bonds
Other cash received
concerning financing activities
Subtotal of cash inflow from
financing activities 159,662,683.49 159,662,683.49 155,490,866.82 135,490,866.82
Cash paid for settling debts 114,438,740.78 104,438,740.78 160,837,140.58 140,837,140.58
Cash paid for dividend and
profit distributing or interest
paying
3,577,606.63 3,232,459.13 7,769,168.40 7,423,513.40
Including: Dividend and
profit of minority shareholder paid
by subsidiaries
Other cash paid concerning
financing activities
Subtotal of cash outflow from
financing activities 118,016,347.41 107,671,199.91 168,606,308.98 148,260,653.98
Net cash flows arising from
financing activities 41,646,336.08 51,991,483.58 -13,115,442.16 -12,769,787.16
IV. Influence on cash due to
fluctuation in exchange rate -853,909.79 -853,909.79 -1,581,974.63 -1,581,974.63
V. Net increase of cash and cash
equivalents -3,444,378.06 -5,424,079.81 -88,076,946.58 -63,261,508.24
Add: Balance of cash and
cash equivalents at the period
-begin
338,230,921.44 306,127,639.14 404,131,911.83 354,939,066.12
VI. Balance of cash and cash
equivalents at the period -end 334,786,543.38 300,703,559.33 316,054,965.25 291,677,557.88
4.4 Auditor’ report
Auditor’s opinions: Un-auditedHefei Meiling Co., Ltd. The 1st Quarterly Report For 2009(Full Text)
9
