Dalian Refrigeration Co., Ltd.
QUARTERLY REPORT FOR THIRD QUARTER,
2019
October, 2019
1
§1 Important Notes
1.1 The directors and the Board of Directors, the supervisors and the Supervisory Board, and Senior staff
members of Dalian Refrigeration Co., Ltd. (hereinafter referred to as the Company) hereby confirm that there are
no any important omissions, fictitious statements or serious misleading carried in this report, and shall take all
responsibilities, individual and/or joint, for the reality, accuracy and completeness of the whole contents.
1.2 The Company’s quarterly financial report has not been audited.
1.3 Chairman of the Board of Directors of the Company Mr. Ji Zhijian, Financial Majordomo Mr. Ma Yun and the
head of Accounting Department Ms. Mao Chunhua hereby confirm that the financial report of the quarterly report
is true and complete.
1.4 This report is written respectively in Chinese and in English. In the event of any discrepancy between the two
above-mentioned versions, the Chinese version shall prevail.
§2 Major accounting data and changes of shareholders
2.1 Major accounting data and financial indexes
Is there any traceable adjustment to the financial statements for the previous report period?
□ Yes √ No
Increase/decrease
2019.9.30 2018.12.31
over 2018.12.31
Total assets 5,675,197,752.91 5,568,279,452.26 1.92%
Shareholder’s equity attributable to
3,415,027,201.23 3,377,633,617.02 1.11%
parent company
Increase/decrease Increase/decrease over
2019.7-9 2019.1-9
over 2018.7-9 2018.1-9
Total operating income 377,309,476.31 -21.76% 1,453,038,716.88 -3.86%
Net profit attributable to parent
-4,027,361.74 -127.93% 104,346,557.56 42.09%
company
Net profit attributable to parent
company after deducting 4,567,091.45 -65.25% 39,829,270.42 -43.37%
non-recurring gains/losses
Net cash generated from operating
-- -- -80,750,223.29 44.11%
activities
Basic earnings per share -0.004 -123.53% 0.123 43.02%
Diluted earnings per share -0.004 -123.53% 0.123 43.02%
Weighted average return on net Decrease 0.42 Increase 0.93
-0.10% 3.06%
asset yield percentage points percentage points
(1).Net profit attributable to parent company from the beginning of the year to the end of the report increased
significantly on a y-o-y basis, mainly due to jThe Gain from change in fair value of Guotai Junan has been
recorded into the current profit and loss, which is about 30.05 million yuan;kDuring January to September 2019,
the Company's exchangeable corporate bondholders exchanged a total of 8.3889 million shares, increasing the
current investment income by about 40.57 million yuan. All profit above has been recorded into the non-recurring
gains and losses.
(2). Net profit attributable to parent company of the reporting period decreased significantly over 2018.7-9,
mainly due to the decrease in the company's operating income during the reporting period, and the fact that the
fair value of guotai junan, decreased by about 10.42 million yuan compared with the end of June 2019 and was
included into the current profit and loss.
Non-recurring profits and losses and their amounts
Amount from beginning of year to
Item of non-recurring gains and losses the end of report period
Profit and loss from disposal of non-current assets 1,227,672.74
Government subsidies which were included in the current profits and losses 2,065,938.84
Debt restructuring gains and losses 1,999,241.94
Income from changes in fair value during the period of holding financial assets
70,613,081.68
available for sale and income from disposal of financial assets available for sale
Other non-operating incomes and expenses except the above mentioned 162,063.15
Income tax effects 11,479,421.77
Minority equity interests effects (after tax) 71,289.44
Total 64,517,287.14
2
2.2 Total number and particulars of the shareholders by the end of the report period
Total shareholders at the end of report period 54,795
Shareholding of top ten shareholders
Number of Number of
shares with pledged
Name Nature Proportion Total number
sale shares or
restriction shares frozen
Domestic non-state-owned
Dalian Bingshan Group Co., Ltd. 20.27% 170,916,934 0
legal person
SANYO ELECTRIC CO LTD Overseas legal person 8.72% 73,503,150 0
Lin Zhenming Foreign natural person 0.76% 6,400,000 0
Wu An Domestic natural person 0.53% 4,500,000 0
Sun Huiming Domestic natural person 0.52% 4,384,079 0
Domestic non-state-owned
Dalian industrial development investment Co., Ltd. 0.40% 3,406,725 0
legal person
BOCI SECURITIES LIMITED Overseas legal person 0.36% 3,041,582 0
Zhang Sufen Domestic natural person 0.36% 3,020,000 0
Xue Hong Domestic natural person 0.35% 2,940,000 0
Li Xiaohua Domestic natural person 0.32% 2,725,908 0
Particulars about shares held by the top ten negotiable shareholders not subject to conditional sales
Name of shareholder EORP (shares) Type
Dalian Bingshan Group Co., Ltd. 170,916,934 A
SANYO ELECTRIC CO LTD 73,503,150 B
Lin Zhenming 6,400,000 B
Wu An 4,500,000 B
Sun Huiming 4,384,079 B
Dalian industrial development investment Co., Ltd. 3,406,725 A
BOCI SECURITIES LIMITED 3,041,582 B
Zhang Sufen 3,020,000 A
Xue Hong 2,940,000 B
Li Xiaohua 2,725,908 A
Dalian Bingshan Group Co., Ltd. had the association relationship with
Notes to the associated relationship and uniform actions of the
Sanyo Electric Co., Ltd. among the above shareholders. Sanyo Electric
above shareholders
Co., Ltd. holds 26.6% of Dalian Bingshan Group Co., Ltd.'s equity.
Did the Company's shareholders conduct the agreed repurchase transactions in the reporting period?
□ Yes √ No
Information on the total number of preferred shareholders and the shares held by top ten preferred shareholders as
of the end of the reporting period
□ Yes √ No
§3 Important Matters
3.1 Major changes in main financial items and indexes, and description of the cause
√ Applicable □ Inapplicable
1、Dividend receivable has increased significantly over that of year-beginning, mainly because an increase in
unmatured dividends receivable of Panasonic Compressor.
2、Construction in progress has increased significantly over that of year-beginning, mainly because the Company's
new factory intelligent manufacturing project and R22 reduction project investment.
3、Short-term loans has increased significantly over that of year-beginning, mainly because the Company's daily
operating capital requirements increased.
4、Wages payable has decreased significantly over that of year-beginning, mainly because accrual year-end bonus
for year of 2018 has paid in first quarter of 2019.
5、Other accounts payable has decreased significantly over that of year-beginning, mainly because the Company
terminates the implementation of the 2016 restricted stock incentive plan.
6、Bonds payable has decreased significantly over that of year-beginning, mainly because the Company's
exchangeable corporate bondholders exchanged shares concentrated during January to September 2019.
7、The long term accounts payable has increased significantly over that of year-beginning, mainly because the
Wuxin Refrigeration, a subsidiary of the Company, signed a commercial factoring contract.
8、Other comprehensive income has decreased significantly over that of year-beginning,mainly because according
to the new financial instrument standards, the Company adjusted guotai junan stock market net profit and loss at the
beginning to undistributed profits.
3
9、Financial expenses have decreased significantly on a y-o-y basis, mainly because the interest on the current loan
decreased.
10、Assets impairment loss has increased significantly on a y-o-y basis, mainly because the provision for bad debts
increased.
11、Gain from investment has increased significantly on a y-o-y basis ,mainly because earnings of the Company's
exchangeable corporate bondholders exchanged shares .
3.2 Analytic description of major matters, their influence and solutions
Applicable√ Inapplicable
3.3 Commitments of the Company or its shareholders holding 5% or higher of the shares in the reporting period or
carried to the reporting period
Applicable√ Inapplicable
3.4 Precautions on forecasting of 2019, the accumulated net profit may be turned into loss or change greatly
compared with that in the same period of the last year, and description of the cause
Applicable√ Inapplicable
3.5 Securities investment
√ Applicable□ Inapplicable
Changes
in the
Accumulative
Initial Accounting profit and
Stock Stock Book value at change of fair Current sale Report period Book value in the Accounting Source
investment measurement loss of the
code abbreviation the beginning value credited to amount profit and loss ending subjects of funds
cost model fair value
equity
in this
period
Other
Guotai fair value Own
601211 15,710,008.00 369,195,071.40 0.00 30,045,390.28 150,999,966.00 34,365,642.50 276,024,840.56 Non-current
Jun’an measurement funds
financial asset
Other Securities
0.00 -- 0.00 0.00 0.00 0.00 0.00 0.00 -- --
Investment
total 15,710,008.00 -- 369,195,071.40 0.00 30,045,390.28 150,999,966.00 34,365,642.50 276,024,840.56 -- --
The amount sold in the current period is the amount of the exchangeable bondholder's exchange shares during the
reporting period.
3.6 Trust management
□ Applicable √ Inapplicable
3.7 Derivative investment
□ Applicable √ Not applicable
During the reporting period, the Company does not exist derivative investment.
3.8 Table of investigation, communication, interview received
□ Applicable √ Not applicable
3.9 Violation of guaranty
□ Applicable √ Not applicable
3.10 Non-operation capital occupation by holding shareholders and their related parties in the listed company
□ Applicable √ Not applicable
§4 Financial Report (attached)
Not audited.
Note: The adjustment of financial statements
New Financial Instruments Standards, New Income Standards and New Leasing Standards for the First
Implementation Relevant to Financial Statements at the Beginning of the Year
√Applicable □Inapplicable
Before adjustment After adjustment
Consolidated Balance Sheet 31-Dec-2018 Consolidated Balance Sheet 1-Jan-2019
Finance asset held available for sales 382,186,729.99 Other non-current financial assets 382,186,729.99
Other comprehensive income 296,909,965.55 Other comprehensive income 2,501,459.77
Retained profit 764,859,288.45 Retained profit 1,059,267,794.23
Balance sheet of parent company 31-Dec-2018 Balance sheet of parent company 1-Jan-2019
Finance asset held available for sales 380,771,587.49 Othe non-current financial assets 380,771,587.49
Other comprehensive income 295,947,864.88 Other comprehensive income 1,539,359.10
Retained profit 640,251,261.47 Retained profit 934,659,767.25
4
According to the new financial instrument criteria, the original item of " Finance asset held available for sales " is
adjusted to "other non-current financial assets"; Adjust the amount of other comprehensive income
-294,408,505.78 yuan, and adjust the amount of retained profit 294,408,505.78 yuan.
Board of Directors of Dalian Refrigeration Co., Ltd.
October 26, 2019
5
BALANCE SHEET
Prepared by Dalian Refrigeration Co., Ltd. September 30, 2019 Unit: RMB Yuan
30-Sep-2019 31-Dec-2018
Items
Consolidation Parent Company Consolidation Parent Company
Current assets:
Monetary funds 265,643,297.14 126,822,679.64 343,026,485.11 186,976,185.10
Transaction financial assets
Financial assets which are measured by fair value and
which changes are recorded in current profit and loss
Derivative financial assets
Notes receivable 156,539,516.62 58,226,433.10 171,292,044.56 63,673,648.65
Accounts receivable 1,230,802,354.83 562,384,019.63 1,107,546,588.30 418,715,646.60
Accounts in advance 203,314,901.97 68,894,184.28 158,405,300.50 69,577,538.44
Other receivables 76,413,301.34 41,060,230.81 48,508,755.15 14,003,269.34
Interest receivables 318,886.12 318,886.12
Dividend receivable 35,745,000.00 35,745,000.00 33,450.00
Inventories 514,619,759.41 215,505,447.43 450,195,300.53 194,747,632.08
Assets held for sale
Non-current asset due within one year
Other current assets 13,779,915.16 2,037,630.29 18,266,589.12 8,056,055.09
Total current assets 2,461,113,046.47 1,074,930,625.18 2,297,241,063.27 955,749,975.30
Non-current assets:
Finance asset held available for sales 382,186,729.99 380,771,587.49
Held-to-maturity investment
Long-term account receivable
Long-term equity investment 1,652,872,574.52 2,236,023,833.41 1,619,693,570.97 2,201,953,842.42
Other non-current financial assets 289,016,499.15 287,601,356.65
Investment property 96,563,389.31 107,753,669.94 100,338,241.99 111,421,702.70
Fixed assets 940,726,048.76 721,431,086.81 953,298,058.11 725,516,578.53
Construction in progress 41,681,177.92 26,176,291.71 19,796,212.82 18,010,457.61
Productive biological asset
Oil and gas asset
Intangible assets 142,309,227.55 68,089,160.29 147,018,592.71 70,049,323.57
Expense on Research and Development
Goodwill 1,750,799.49 1,750,799.49
Long-term expenses to be apportioned 11,666,235.96 10,125,193.38 12,873,428.19 11,244,777.00
Deferred income tax asset 37,498,753.78 4,578,414.88 34,082,754.72 4,303,943.48
Other non-current asset
Total non-current asset 3,214,084,706.44 3,461,779,007.07 3,271,038,388.99 3,523,272,212.80
Total assets 5,675,197,752.91 4,536,709,632.25 5,568,279,452.26 4,479,022,188.10
Current liabilities:
Short-term loans 348,082,000.00 308,082,000.00 250,000,000.00 250,000,000.00
Financial liabilities which are measured by fair value and
which changes are recorded in current profit and loss
6
Derivative financial liabilities
Transaction financial liabilities
Notes payable 303,224,389.65 179,174,335.08 273,401,536.58 114,845,621.59
Accounts payable 973,926,188.87 335,474,778.83 859,489,558.61 297,954,195.20
Accounts received in advance 151,774,725.70 47,459,900.30 122,151,101.00 29,579,144.85
Wage payable 13,576,587.78 97,764.94 31,856,136.59 7,376,290.42
Taxes payable 14,924,403.36 10,763,523.31 13,608,212.32 3,399,150.12
Other accounts payable 36,661,533.03 7,048,958.80 63,313,958.43 30,439,931.10
Interest payable 54,166.71 54,166.71 1,369,527.78 1,369,527.78
Dividend payable 533,156.00 533,156.00 533,156.00 533,156.00
Liabilities held for sale
Non-current liabilities due within one year 729,063.43 2,999,574.93
Other current liabilities
Total current liabilities 1,842,898,891.82 888,101,261.26 1,616,820,078.46 733,594,333.28
Non-current liabilities:
Long-term loans 160,000,000.00 160,000,000.00 160,000,000.00 160,000,000.00
Bonds payable 25,000,034.00 25,000,034.00 176,000,000.00 176,000,000.00
Preferred stock
Perpetual bond
Long-term account payable 14,371,895.15 1,532,949.94
Long-term wage payable
Special payable
Anticipation liabilities
Deferred income 99,066,178.71 57,295,080.19 103,542,093.79 60,907,828.40
Deferred income tax liabilities 39,171,095.70 39,171,095.70 51,954,442.22 51,954,442.22
Other non-current liabilities
Total non-current liabilities 337,609,203.56 281,466,209.89 493,029,485.95 448,862,270.62
Total liabilities 2,180,508,095.38 1,169,567,471.15 2,109,849,564.41 1,182,456,603.90
Shareholders’ equity
Share capital 843,212,507.00 843,212,507.00 855,434,087.00 855,434,087.00
Other equity instruments
Preferred stock
Perpetual bond
Capital public reserve 726,768,468.00 771,270,562.83 760,365,342.00 804,867,436.83
Less:Treasury stock 21,026,106.00 21,026,106.00
Other comprehensive income 2,501,459.77 1,539,359.10 296,909,965.55 295,947,864.88
Special preparation
Surplus public reserve 753,519,177.11 753,519,177.11 721,091,040.02 721,091,040.02
Generic risk reserve
Retained profit 1,089,025,589.35 997,600,555.06 764,859,288.45 640,251,261.47
Total owner’s equity attributable to parent company 3,415,027,201.23 3,367,142,161.10 3,377,633,617.02 3,296,565,584.20
Minority interests 79,662,456.30 80,796,270.83
Total owner’s equity 3,494,689,657.53 3,367,142,161.10 3,458,429,887.85 3,296,565,584.20
Total liabilities and shareholder’s equity 5,675,197,752.91 4,536,709,632.25 5,568,279,452.26 4,479,022,188.10
Legal Representative: Ji Zhijian Chief Financial Official: Ma Yun Person in Charge of Accounting Organization: Mao Chunhua
7
INCOME STATEMENT
Prepared by Dalian Refrigeration Co., Ltd. July-September, 2019 Unit: RMB Yuan
July-September, 2019 July-September 2018
Items
Consolidation Parent Company Consolidation Parent Company
I. Total sales 377,309,476.31 185,430,301.21 482,267,734.29 146,979,350.41
II. Total operating cost 398,064,976.69 199,512,285.47 508,998,199.04 156,982,655.71
Including: Operating cost 307,976,069.92 158,112,463.00 406,568,952.79 121,157,057.73
Taxes and associate charges 4,161,194.34 2,183,711.28 4,900,308.23 2,279,128.59
Selling and distribution expenses 26,015,721.28 12,934,688.91 26,968,566.73 374,967.60
Administrative expenses 43,834,281.38 18,804,420.18 57,565,430.28 23,905,154.73
R&D expenses 12,281,212.29 4,690,216.53 7,716,123.13 5,149,217.99
Financial expense 3,796,497.48 2,786,785.57 5,278,817.88 4,117,129.07
Including:interest expense 3,656,619.40 2,509,540.76 4,297,758.56 3,233,617.80
interest income 491,570.02 342,781.73 449,828.36 332,981.68
Add:Other income 368,909.48 3,744,210.55 1,566,087.00
Gain/(loss) from investment 29,142,360.02 29,363,993.43 42,853,933.74 42,993,624.90
Including: income from investment on
29,142,360.02 29,363,993.43 42,820,483.74 42,993,624.90
affiliated enterprise and jointly enterprise
Gain/(loss) from change in fair value -10,415,735.31 -10,415,735.31
Assets impairment loss (loss as “-“) -5,573,363.68 -1,370,524.06 -1,930,726.50 -1,912,799.87
Gain/(loss) from asset disposal -100,487.43
III. Operating profit -7,233,329.87 3,495,749.80 17,836,465.61 32,643,606.73
Add: non-business income 478,879.39 30.07 123,364.77 207.11
Less: non-business expense 95,922.49 154,138.70
IV. Total profit -6,850,372.97 3,495,779.87 17,805,691.68 32,643,813.84
Less: Income tax -3,292,739.52 -2,490,924.05 1,590,321.86 -443,345.17
V. Net profit -3,557,633.45 5,986,703.92 16,215,369.82 33,087,159.01
(I) Net profit from continuous operation -3,557,633.45 5,986,703.92 16,215,369.82 33,087,159.01
(II)Net profit from discontinuing operation
Net profit attributable to parent company -4,027,361.74 5,986,703.92 14,417,569.50 33,087,159.01
Minority shareholders’ gains and losses 469,728.29 1,797,800.32
VI. After-tax net amount of other comprehensive 5,758,515.19
5,758,515.19
incomes
After-tax net amount of other comprehensive 5,758,515.19
5,758,515.19
incomes attributable to owners of the Company
(I) Other comprehensive incomes that will not be
reclassified into gains and losses
1. Changes in net liabilities or assets with a
defined benefit plan upon re-measurement
2. Enjoyable shares in other comprehensive
incomes in invests that cannot be reclassified into
gains and losses under the equity method
(II) Other comprehensive incomes that will be 5,758,515.19
5,758,515.19
reclassified into gains and losses
1. Enjoyable shares in other comprehensive
incomes in invests that will be reclassified into gains
and losses under the equity method
2. Changes in the fair value of other debt
investments
8
3. Gains and losses on fair value changes of 5,758,515.19
5,758,515.19
available-for-sale financial assets
4. The amount of financial assets reclassified
into other comprehensive income
5. Held-to-maturity investments are reclassified
as saleable financial asset gains and losses
6.Others
After-tax net amount of other comprehensive
incomes attributable to minority shareholders
VII Total comprehensive income -3,557,633.45 5,986,703.92 21,973,885.01 38,845,674.20
Total comprehensive income attributable to parent
-4,027,361.74 5,986,703.92 20,176,084.69 38,845,674.20
company
Total comprehensive income attributable to
minority shareholders 469,728.29 1,797,800.32
VIII. Earnings per share
(I) basic earnings per share -0.004 0.017
(II) diluted earnings per share -0.004 0.017
Legal Representative: Ji Zhijian Chief Financial Official: Ma Yun Person in Charge of Accounting Organization: Mao Chunhua
9
INCOME STATEMENT
Prepared by Dalian Refrigeration Co., Ltd. January-September, 2019 Unit: RMB Yuan
January-September, 2019 January-September 2018
Items
Consolidation Parent Company Consolidation Parent Company
I. Total sales 1,453,038,716.88 510,786,574.53 1,511,346,271.08 450,026,085.60
II. Total operating cost 1,499,611,605.61 540,891,541.57 1,537,007,566.62 478,413,212.95
Including: Operating cost 1,227,736,049.78 435,005,859.82 1,259,412,828.06 381,890,609.76
Taxes and associate charges 12,891,478.21 6,957,698.30 13,634,229.96 6,834,987.52
Selling and distribution expenses 79,112,539.90 18,305,927.70 75,631,379.84 656,521.50
Administrative expenses 129,776,376.59 56,037,040.67 139,080,586.28 62,351,209.91
R&D expenses 40,831,076.46 17,761,463.87 35,330,459.80 17,155,779.50
Financial expense 9,264,084.67 6,823,551.21 13,918,082.68 9,524,104.76
Including:interest expense 9,199,037.66 6,281,720.77 13,182,040.11 9,903,982.33
interest income 1,063,793.82 553,952.60 2,518,884.72 2,044,657.85
Add:Other income 2,404,346.32 3,853,847.95 1,566,087.00
Gain/(loss) from investment 146,269,781.75 150,160,769.19 109,466,978.18 116,944,490.04
Including: income from investment on
101,381,838.15 102,272,825.59 98,293,970.18 99,401,607.31
affiliated enterprise and jointly enterprise
Gain/(loss) from change in fair value 30,045,390.28 30,045,390.28
Assets impairment loss (loss as “-“) -22,436,498.10 -4,483,267.31 -10,014,587.90 2,374,558.16
Gain/(loss) from asset disposal 1,242,799.31 582,050.16 130,324.63 248,128.41
III. Operating profit 110,952,930.83 146,199,975.28 77,775,267.32 92,746,136.26
Add: non-business income 2,951,244.52 230.14 2,300,228.71 251,207.18
Less: non-business expense 217,566.00 75,126.57 307,729.40 80,000.00
IV. Total profit 113,686,609.35 146,125,078.85 79,767,766.63 92,917,343.44
Less: Income tax 10,473,866.32 8,595,528.60 5,030,766.11 128,763.32
V. Net profit 103,212,743.03 137,529,550.25 74,737,000.52 92,788,580.12
(I) Net profit from continuous operation 103,212,743.03 137,529,550.25 74,737,000.52 92,788,580.12
(II)Net profit from discontinuing operation
Net profit attributable to parent company 104,346,557.56 137,529,550.25 73,435,111.78 92,788,580.12
Minority shareholders’ gains and losses -1,133,814.53 1,301,888.74
VI. After-tax net amount of other comprehensive -81,310,234.46
-81,310,234.46
incomes
After-tax net amount of other comprehensive -81,310,234.46
-81,310,234.46
incomes attributable to owners of the Company
(I) Other comprehensive incomes that will not be
reclassified into gains and losses
1. Changes in net liabilities or assets with a
defined benefit plan upon re-measurement
2. Enjoyable shares in other comprehensive
incomes in invests that cannot be reclassified into
gains and losses under the equity method
(II) Other comprehensive incomes that will be
-81,310,234.46 -81,310,234.46
reclassified into gains and losses
1. Enjoyable shares in other comprehensive
incomes in invests that will be reclassified into gains
and losses under the equity method
2. Changes in the fair value of other debt
investments
10
3. Gains and losses on fair value changes of
-81,310,234.46 -81,310,234.46
available-for-sale financial assets
4. The amount of financial assets reclassified
into other comprehensive income
5. Held-to-maturity investments are reclassified
as saleable financial asset gains and losses
6.Others
After-tax net amount of other comprehensive
incomes attributable to minority shareholders
VII Total comprehensive income 103,212,743.03 137,529,550.25 -6,573,233.94 11,478,345.66
Total comprehensive income attributable to parent
104,346,557.56 137,529,550.25 -7,875,122.68 11,478,345.66
company
Total comprehensive income attributable to
minority shareholders -1,133,814.53 1,301,888.74
VIII. Earnings per share
(I) basic earnings per share 0.123 0.086
(II) diluted earnings per share 0.123 0.086
Legal Representative: Ji Zhijian Chief Financial Official: Ma Yun Person in Charge of Accounting Organization: Mao Chunhua
11
CASH FLOW STATEMENT
Prepared by Dalian Refrigeration Co., Ltd. January-September, 2019 Unit: RMB Yuan
January - September, 2019 January - September 2018
Items
Consolidation Parent Company Consolidation Parent Company
I. Cash flows arising from operating activities:
Cash received from selling commodities and providing
990,420,530.70 340,550,201.48 1,006,325,541.41 397,106,642.50
labor services
Write-back of tax received 10,549,600.41 36,048,272.10 21,407,074.38
Other cash received concerning operating activities 43,316,326.23 7,731,200.99 41,140,993.85 9,532,226.02
Subtotal of cash inflow arising from operating activities 1,044,286,457.34 348,281,402.47 1,083,514,807.36 428,045,942.90
Cash paid for purchasing commodities and receiving
labor service 686,780,484.56 250,430,970.32 776,051,647.72 413,735,490.96
Cash paid to/for staff and workers 262,853,897.94 93,345,038.33 270,020,405.01 100,530,514.50
Taxes paid 59,775,362.69 18,190,018.35 70,099,415.71 8,117,820.30
Other cash paid concerning operating activities 115,626,935.44 23,731,542.82 111,821,387.96 17,904,193.82
Subtotal of cash outflow arising from operating activities 1,125,036,680.63 385,697,569.82 1,227,992,856.40 540,288,019.58
Net cash flows arising from operating activities -80,750,223.29 -37,416,167.35 -144,478,049.04 -112,242,076.68
II. Cash flows arising from investing activities:
Cash received from recovering investment
Cash received from investment income 45,399,936.80 45,366,486.80 46,171,448.00 46,137,998.00
Net cash received from disposal of fixed, intangible and
other long-term assets 1,691,731.61 810,000.00 4,094,674.11
Net cash received from disposal of subsidiaries and
other units
Other cash received concerning investing activities 76,000,000.00 76,000,000.00
Subtotal of cash inflow from investing activities 47,091,668.41 46,176,486.80 126,266,122.11 122,137,998.00
Cash paid for purchasing fixed, intangible and other
long-term assets 33,597,375.06 29,587,157.31 148,585,086.22 138,737,517.86
Cash paid for investment 4,327,733.43
Net cash paid for achievement of subsidiaries and other
business units
Other cash paid concerning investing activities
Subtotal of cash outflow from investing activities 33,597,375.06 29,587,157.31 152,912,819.65 138,737,517.86
Net cash flows arising from investing activities 13,494,293.35 16,589,329.49 -26,646,697.54 -16,599,519.86
III. Cash flows arising from financing activities
Cash received from absorbing investment
Including: Cash received from absorbing minority
shareholders' equity investment by subsidiaries
Cash received from loans 409,412,100.00 308,082,000.00 413,654,000.00 400,000,000.00
Cash received from issuing bonds 174,504,000.00 174,504,000.00
Other cash received concerning financing activities 38,323,050.64 29,116,287.80
Subtotal of cash inflow from financing activities 447,735,150.64 308,082,000.00 617,274,287.80 574,504,000.00
Cash paid for settling debts 316,663,574.16 250,000,000.00 430,004,100.00 410,000,000.00
Cash paid for dividend and profit distributing or interest
52,234,480.80 49,757,707.19 55,848,974.69 52,600,129.54
paying
Including: dividends or profit paid by subsidiaries to
114,000.00
minority shareholders
Other cash paid concerning financing activities 66,386,367.24 47,566,389.36 15,894,036.66 3,446,078.94
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Subtotal of cash outflow from financing activities 435,284,422.20 347,324,096.55 501,747,111.35 466,046,208.48
Net cash flows arising from financing activities 12,450,728.44 -39,242,096.55 115,527,176.45 108,457,791.52
IV. Influence on cash due to fluctuation in exchange rate 368,800.90 -84,571.05 -2,066,325.91 -438,261.46
V. Net increase of cash and cash equivalents -54,436,400.60 -60,153,505.46 -57,663,896.04 -20,822,066.48
Add: Balance of cash and cash equivalents at the period
-begin 304,703,434.47 186,976,185.10 364,693,406.31 234,655,092.14
VI. Balance of cash and cash equivalents at the period–end 250,267,033.87 126,822,679.64 307,029,510.27 213,833,025.66
Legal Representative: Ji Zhijian Chief Financial Official: Ma Yun Person in Charge of Accounting Organization: Mao Chunhua
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