2019 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
ZHEJIANG DAHUA TECHNOLOGY CO., LTD.
2019 Q1 Report
April 2019
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2019 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Section I Important Notes
The Board of Directors, Board of Supervisors, Directors, Supervisors and
Senior Management of the Company hereby warrant that the information
presented in this quarterly report shall be authentic, accurate, complete and free
of any false records, misleading statements or material omissions, and they shall
assume joint and several liabilities for such information.
All directors have attended the board meeting for the deliberation of this
quarterly report.
Fu Liquan, the Company's principal, Wei Meizhong, the person in charge
of accounting, and Xu Qiaofen, the person in charge of the accounting
institutions (accounting supervisor) hereby represent and warrant that the
financial statements contained in this quarterly report are authentic, accurate
and complete.
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2019 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Section II Corporate Information
I. Key Accounting Data and Financial Indicators
Whether the Company needs to adjust or restate the accounting data of previous years retrospectively
□ Yes √ No
This period Same period of last year Change (%)
Operating income (RMB) 4,347,918,104.26 3,617,652,691.40 20.19%
Net profit attributable to shareholders of
316,343,906.02 295,523,140.67 7.05%
the listed company (RMB)
Net profit attributable to shareholders of
the listed company, excluding 286,016,593.97 290,656,854.31 -1.60%
non-recurring profit and loss (RMB)
Net cash flow from operational activities -1,728,487,212.91 -1,286,295,160.14 -34.38%
(RMB)
Basic earnings per share (RMB/share) 0.11 0.10 10.00%
Diluted earnings per share (RMB/share) 0.11 0.10 10.00%
Weighted average ROE 2.47% 2.78% -0.31%
End of this period End of last year Change (%)
Total assets (RMB) 25,249,751,298.42 26,350,599,778.15 -4.18%
Net assets attributable to shareholders of
12,992,582,839.54 12,618,758,918.48 2.96%
the listed company (RMB)
Non-recurring profit and loss items and amounts
√ Applicable □ Not applicable
Unit: RMB
Amount from the beginning
Item of the year to the end of this Note
period
Profit and loss from disposal of non-current assets (including the
9,128,384.28
write-off for the accrued impairment of assets)
The government subsidies included in current profits and losses
(excluding the government subsidies closely related to regular
11,417,827.04
businesses of the Company and issued in quota or quantity based
on the national standards)
Profits and losses from changes at fair value of trading financial
assets, derivative financial assets, trading financial liabilities and 16,288,059.40
derivative financial liabilities, and investment income gained
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2019 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
from disposal of trading financial assets, derivative financial
assets, trading financial liabilities, derivative financial liabilities
and other investments on creditor's rights, excluding effective
hedging businesses related to the normal business operation of the
Company
Non-operating revenue and expenses other than the above 1,579,646.02
Less: Impact of income tax 5,432,794.47
Impact of minority equity (after-tax) 2,653,810.22
Total 30,327,312.05 --
As to the non-recurring profit and loss items defined by the Company according to Explanatory Announcement No.1 on Information
Disclosure for Companies Offering Securities to the Public - Non-recurring Profit and Loss, or non-recurring profit and loss items
listed in the said document defined as recurring ones, the Company shall specify the reason.
□ Applicable √ Not applicable
In this reporting period, the Company did not have any non-recurring profit and loss items listed in Explanatory Announcement No.1
on Information Disclosure for Companies Offering Securities to the Public - Non-recurring Profit and Loss defined as recurring ones.
II. Total Number of Shareholders and Holdings of the Top 10 Shareholders at the End of the
Reporting Period
1. Total number of common shareholders, number of preferred shareholders with voting rights recovered
and holdings of the Top 10 shareholders
Unit: share
Total number of preferred
Total number of common
shareholders with voting rights
shareholders at the end of the 124,488 0
recovered at the end of the reporting
reporting period
period (if any)
Holdings of the Top 10 shareholders
Nature of Shareholding Number of shares Number of Pledged or frozen
Shareholder name
shareholder percentage held restricted shares Status Amount
Domestic natural
Fu Liquan 36.10% 1,082,081,880 834,736,410 Pledged 157,192,000
person
Domestic natural
Zhu Jiangming 6.22% 186,461,490 139,846,117 Pledged 36,504,000
person
Hong Kong
Overseas legal
Securities 2.63% 78,796,029 0
person
Clearing Co., Ltd.
Domestic natural
Chen Ailing 2.38% 71,262,813 53,447,110
person
Wu Jun Domestic natural 2.31% 69,250,886 51,938,164
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2019 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
person
National Social
Security Fund Others 1.47% 44,039,310 0
Portfolio 102
Domestic
China Securities
non-state-owned 1.32% 39,611,241 0
Finance Co., Ltd.
legal person
Central Huijin
Asset State-owned legal
1.05% 31,448,750 0
Management Co., person
Ltd.
Zhejiang Dahua
Technology Co.,
Ltd. - Phase III Others 0.88% 26,247,928 0
Employee Stock
Ownership Plan
Shanghai
Greenwoods
Asset
Others 0.66% 19,904,829 0
Management Ltd.
- Greenwoods
Global Fund
Holdings of the Top 10 unrestricted shareholders
Type of shares
Shareholder name Number of unrestricted shares
Type of shares Amount
RMB common
Fu Liquan 247,345,470 247,345,470
stock
Hong Kong Securities Clearing Co., RMB common
78,796,029 78,796,029
Ltd. stock
RMB common
Zhu Jiangming 46,615,373 46,615,373
stock
National Social Security Fund RMB common
44,039,310 44,039,310
Portfolio 102 stock
RMB common
China Securities Finance Co., Ltd. 39,611,241 39,611,241
stock
Central Huijin Asset Management RMB common
31,448,750 31,448,750
Co., Ltd. stock
Zhejiang Dahua Technology Co.,
RMB common
Ltd. - Phase III Employee Stock 26,247,928 26,247,928
stock
Ownership Plan
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2019 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Shanghai Greenwoods Asset
RMB common
Management Ltd. - Greenwoods 19,904,829 19,904,829
stock
Global Fund
Shanghai Greenwoods Asset
RMB common
Management Co., Ltd. - 18,821,078 18,821,078
stock
Greenwoods Value Fund
RMB common
Chen Ailing 17,815,703 17,815,703
stock
Association or concerted action of Mr. Fu Liquan and Ms. Chen Ailing are husband and wife. The Company is unaware of
above-mentioned shareholders whether other shareholders have associated relationship or are persons acting in concert.
Participation of Top 10 common
shareholders in securities margin N/A
trading businesses (if any)
Whether the Company's Top 10 common shareholders or Top 10 unrestricted common shareholders have agreed upon any repurchase
transaction in the reporting period
□ Yes √ No
None of the Company's Top 10 common shareholders or Top 10 unrestricted common shareholders have agreed upon any
repurchases transaction in the reporting period.
2. Total number of preferred shareholders and holdings of the Top 10 preferred shareholders
□ Applicable √ Not applicable
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2019 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Section III Important Matters
I. Major changes in key financial data and indicators in the reporting period and reasons
√ Applicable □ Not applicable
(I) Changes in assets and liabilities and reasons
1. Available-for-sale financial assets decreased by 100% compared with the end of last year, which was mainly caused by the
application of the New Accounting Standards for Financial Instruments starting from 2019 and that the Company adjusted the items
previously listed as available-for-sale financial assets to other non-current financial assets;
2. Other non-current financial assets increased by 100% compared with the end of last year, which was mainly caused by the
application of the New Accounting Standards for Financial Instruments starting from 2019 and that the Company adjusted the items
previously listed as available-for-sale financial assets to other non-current financial assets;
3. Long-term receivables increased by 33.25% compared with the end of last year, which was mainly caused by the confirmed
increase of installments in the acceptance inspection in this reporting period;
4. Other non-current assets increased by 87.18% compared with the end of last year, which was mainly caused by the increase of
pre-payments for the manufacturing equipment in this reporting period;
5. Short-term borrowings increased by 57.09% compared with the end of last year, which was mainly caused by the increase of
bank loans in this reporting period;
6. Trading financial liabilities increased by 100% compared with the end of last year, which was mainly caused by the
application of the New Accounting Standards for Financial Instruments starting from 2019 and that the Company adjusted the items
measured at fair value with their changes previously listed as financial liabilities through profit and loss of the current period to
trading financial liabilities;
7. Financial liabilities measured at fair value through profit and loss of the current period decreased by 100% compared with the
end of last year, which was mainly caused by the application of the New Accounting Standards for Financial Instruments starting
from 2019 and that the Company adjusted the items measured at fair value with their changes previously listed as financial liabilities
through profit and loss of the current period to trading financial liabilities;
8. Received pre-payments increased by 37.53% compared with the end of last year, which was mainly caused by the business
growth of the Company and the increase of received pre-payments;
9. Employee compensation payable decreased by 56.75% compared with the end of last year, which was mainly caused by the
payment of year-end bonus in this reporting period;
10. Taxes payable decreased by 43.09% compared with the end of last year, which was mainly caused by the payment of
value-added taxes and corporate income taxes which were not paid at the start of the period;
11. Interests payable increased by 54.69% compared with the end of last year, which was mainly caused by the increase of bank
loans resulting in the increase of corresponding interest expenses;
12. Other comprehensive incomes increased by 108.34% compared with the end of last year, which was mainly caused by the
increased difference from the conversion of foreign currency statements;
(II) Changes in income statement items and reasons
1. Management fee increased by 48.86% compared with the same period of last year, which was mainly caused by the business
growth of the Company and the impact of equity incentive fees in this reporting period;
2. R&D fee increased by 47.45% compared with the same period of last year, which was mainly caused by the increased
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2019 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
investment in R&D by the Company;
3. Loss from impairment of assets increased by 67.73% compared with the same period of last year, which was mainly caused
by the increase of the accrued bad debt provision in this reporting period compared with the same period of last year;
4. Other income increased by 50.18% compared with the same period of last year, which was mainly caused by the increase of
returned part of the value-added taxes due to excess burden compared with the same period of last year;
5. Profit and loss resulting from the changes in fair value increased by 1179.13% compared with the same period of last year,
which was mainly caused by the changes in the fair value of the Company's financial derivatives;
6. Non-operating income increased by 214.71% compared with the same period of last year, which was mainly caused by the
increase of received government subsidies in this reporting period compared with the same period of last year;
7. Non-operating expense decreased by 58.50% compared with the same period of last year, which was mainly caused by the
decrease of the losses resulting from disposal of fixed assets in this reporting period compared with the same period of last year;
8. Income tax expense decreased by 57.75% compared with the same period of last year, which was mainly caused by the
increase in the weighted deduction ratio of R&D fees compared with the same period of last year;
(III) Changes in cash flow statement items and reasons
1. Net cash flow from operational activities decreased by 34.38% compared with the same period of last year, which was mainly
caused by the scale expansion of the Company resulting in the increase of cash payment for businesses;
2. Net cash flow from investment activities increased by 45.38% compared with the same period of last year, which was mainly
caused by the acquisition activities in the same period of last year;
3. Net cash flow from financing activities increased by 254.44% compared with the same period of last year, which was mainly
caused by the increase of bank loans in this reporting period;
II. Progress and Impact of Important Matters and Solutions
√ Applicable □ Not applicable
1. On January 24, 2017, the Company's holding sub-subsidiary, Nanbei United Information Technology Co., Ltd. and its
wholly-owned subsidiary, Zhejiang Dahua System Engineering Co., Ltd. signed a Cooperation Agreement on PPP Investment in Safe
City Project of Shache County with the People's Government of Shache County in Kashgar, Xinjiang, which was just a framework
agreement on the PPP project. The agreement stipulated that the service content was the pre-feasibility study of the project and the
design of the project, etc. For the implementation of the specific project, related decision-making and approval procedures, such as
government procurement, shall still be fulfilled.
On July 21, 2017, the Company received the Notification of Award issued by the project purchasing unit, which confirmed that
the wholly-owned subsidiary Zhejiang Dahua System Engineering Co., Ltd. (the consortium leader), with the holding sub-subsidiary
Nanbei United Information Technology Co., Ltd. (member of the consortium) was the winning bidder for the Safe City Construction
Project (PPP) in Shache County. The winning bid amount of the project was RMB 4.31479 billion (the final amount shall be subject
to the signed contract), which was the total amount for construction and operation within a 10-year project cooperation period.
On August 4, 2017, the Company's 34th session of the 5th Board of Directors' meeting reviewed and approved the Proposal on
Investing to Establish A PPP Project Company in Shache County, Xinjiang, and the Company submitted a bid based on the
requirements for the Shache County City Construction Project (PPP), and the winning consortium jointly funded the establishment of
the project company, with a registered capital of RMB 335,567,200. Among them, Zhejiang Dahua System Engineering Co., Ltd.
contributed RMB 234,897,040, accounted for 70% of the total contribution; Nanbei United Information Technology Co., Ltd.
contributed RMB 100,670,160, accounted for 30%. In August 2017, the project company was established and the name of the
company approved by the industrial and commercial bureau was Xinjiang Dahua Xinzhi Information Technology Co., Ltd.
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2019 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
On April 18, 2018, the winning bidder received the notice from the Public Security Bureau of Shache County to stop the
implementation of the Safe City Construction Project of Shache County (PPP). Nearly half of the project was completed, and no
subsequent expenses for equipment replacement, operation and maintenance were incurred. The actual investment amount during the
construction period shall be further calculated and confirmed with the government.
The winning bidder's project participation and construction was in compliance with the requirements of relevant laws and
regulations of PPP, but there exists the risk that the project would not be continued and lead to the decrease of the Company's future
recognizable income. The Company would actively cooperate with relevant government departments in their work, and timely
perform the obligation of information disclosure based on subsequent progression of the project and the provisions in relevant laws
and regulations and the Articles of Association.
2. On May 16, 2017, the Company's 2016 Annual General Meeting of Shareholders reviewed and approved the Zhejiang
Dahua Technology Co., Ltd. Phase III Employee Stock Ownership Plan (Draft) and its summary, and decided to implement the Phase
III Employee Stock Ownership Plan. On June 1, 2017, the Company's Phase III Employee Stock Ownership Plan completed the
stock purchase through DAHUA No. 3 Directed Asset Management Plan of Caitong Securities Asset Management, with an average
purchase price of RMB 16.83 per share and a total purchase volume of 47,000,000 shares.
On November 12, 2018, the Company's 18th session of the 6th Board of Directors' meeting reviewed and approved the
"Suggestive Proposal on Extension of the Company's Phase III Employee Stock Ownership Plan's Duration at the Time of
Expiration". The Board of Directors agreed to extend the Company's Phase III Employee Stock Ownership Plan for one year based
on the voting results of the shareholders' meeting. That is, the duration was extended for one additional year on the basis of the
original termination date, until May 15, 2020.
3. On December 27, 2018, the Company's 5th interim shareholders' meeting in 2018 reviewed and approved the "Proposal on
Repurchase and Cancellation of Some Granted but Unlocked Restricted Shares", and agreed to repurchase and cancel 44,200 granted
but unlocked restricted shares held by the incentive targets who have left the Company and one deceased personnel. The repurchase
price was RMB 8.17 per share, same as the granting price of the restricted shares, and the registered capital was reduced accordingly.
The above repurchase and cancellation matters were completed on March 4, 2019, and the modification procedures at the Bureau of
Industry and Commerce were completed on April 15, 2019.
Important matters Date of disclosure Interim report disclosure search website
Announcement on the Signing of A Framework Agreement Juchao Information Website
January 26, 2017
for A PPP Project by A Subsidiary http://www.cninfo.com.cn/
Suggestive Announcement on the Pre-winning Publicity for Juchao Information Website
July 18, 2017
the PPP Project of the Subsidiary http://www.cninfo.com.cn/
Announcement on Investing in and Establishing A PPP Juchao Information Website
August 7, 2017
Project Company in Shache County, Xinjiang http://www.cninfo.com.cn/
Announcement on the Progress of the Subsidiary's PPP Juchao Information Website
April 18, 2018
Project http://www.cninfo.com.cn/
Announcement on the Resolution of the Annual Shareholders' Juchao Information Website
May 17, 2017
Meeting in 2016 http://www.cninfo.com.cn/
Announcement on the Completion of Purchase for the Phase Juchao Information Website
June 2, 2017
III Employee Stock Ownership Plan http://www.cninfo.com.cn/
Suggestive Proposal on Extension of the Company's Phase III
Juchao Information Website
Employee Stock Ownership Plan's Duration at the Time of November 13, 2018
http://www.cninfo.com.cn/
Expiration
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2019 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Announcement on the Resolution of the 5th Interim Juchao Information Website
December 28, 2018
Shareholders' Meeting in 2018 http://www.cninfo.com.cn/
Announcement on the Completion of Repurchase and Juchao Information Website
March 6, 2019
Cancellation of Some Restricted Shares http://www.cninfo.com.cn/
The Progress on Share Repurchase
□ Applicable √ Not applicable
The Progress on Reducing Share Repurchase by Means of Centralized Bidding
□ Applicable √ Not applicable
III. Commitments of the Company's de facto Controllers, Shareholders, Related Parties,
Buyers, the Company and Other Parties related to the Commitments not Fulfilled in the
Reporting Period
□ Applicable √ Not applicable
All of the commitments of the Company's de facto controllers, shareholders, related parties, buyers, the Company and other parties
related to the commitments have been fulfilled in the reporting period.
IV. Estimation on Business Performance from January to June of 2019
Estimated business performance from January to June of 2019: the net profit attributable to shareholders of the listed company is a
positive value and it's not a turn from loss to profit.
Changes in the net profit attributable to shareholders of the listed
0.00% to 15.00%
company from January to June of 2019
Range of changes in the net profit attributable to shareholders of the
108,191.69 to 124,420.44
listed company from January to June of 2019 (in RMB 10,000)
Net profit attributable to shareholders of the listed company from
108,191.69
January to June of 2018 (in RMB 10,000)
The sales scale of the Company has expanded and the
operating income has increased. It's estimated that the net
Reasons for the performance changes profit attributable to the owners of the parent company will
increase by 0%-15% compared with the same period of last
year.
V. Financial Assets Measured at Fair Value
√ Applicable □ Not applicable
Unit: RMB
Profit and loss Cumulative Amount of Amount of
Initial Cumulative Amount at the
resulting from changes in purchase sales in Capital
Type of assets investment investment end of the
the changes in fair value in the the source
cost income period
fair value in recognized reporting reporting
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2019 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
this period in equity period period
Financial Own
34,436,817.76 -19,529,927.20 387,573.16
derivatives fund
Equity Own
82,970,227.00 82,970,227.00
investment fund
Total 82,970,227.00 34,436,817.76 0.00 0.00 0.00 -19,529,927.20 83,357,800.16 --
VI. Rule-violating External Guarantee
□ Applicable √ Not applicable
No rule-violating external guarantee was provided by the Company in the reporting period.
VII. Occupation of the Listed Company's Fund by the Controlling Shareholders or Other
Related Parties for Non-operating Purposes
□ Applicable √ Not applicable
During the reporting period, there is no occupation of the listed company's fund by the controlling shareholders or other related
parties for non-operating purposes.
VIII. Registration Form for Received Researches, Communications, Interviews in the
Reporting Period
√ Applicable □ Not applicable
Time Method Target type Basic information search website
For more information, please see the investor relations activity list at
January 29, 2019 Field research Organization
http://www.cninfo.com.cn
Telephone For more information, please see the investor relations activity list at
January 29, 2019 Organization
communication http://www.cninfo.com.cn
For more information, please see the investor relations activity list at
January 30, 2019 Field research Organization
http://www.cninfo.com.cn
Telephone For more information, please see the investor relations activity list at
January 30, 2019 Organization
communication http://www.cninfo.com.cn
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2019 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Section IV Financial Statements
I. Financial Statements
1. Consolidated Balance Sheet
Prepared by: Zhejiang Dahua Technology Co., Ltd.
Unit: RMB
Item March 31, 2019 December 31, 2018
Current assets:
Monetary fund 3,388,154,787.00 4,160,153,847.06
Deposit reservation for balance
Loans to banks and other financial
institutions
Trading financial assets 387,573.16
Financial assets measured at fair
value with changes recognized into current
profit and loss
Derivative financial assets
Notes receivable and accounts
11,636,044,122.03 12,577,066,194.44
receivable
Including: notes receivable 1,734,839,459.26 2,385,693,417.06
Accounts receivable 9,901,204,662.77 10,191,372,777.38
Pre-payments 161,293,518.30 126,891,259.00
Premium receivable
Reinsurance accounts receivable
Reinsurance contract reserves
receivable
Other receivables 338,563,516.18 398,170,769.40
Including: interests receivable 5,807,523.44 6,754,941.00
Dividends receivable
Buying back the sale of financial
assets
Inventory 2,996,728,364.05 3,035,579,709.14
Contractual assets
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2019 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Held-for-sale assets
Non-current assets due within 1 year 574,701,552.44 578,733,057.27
Other current assets 405,106,796.33 402,255,078.05
Subtotal of current assets 19,500,980,229.49 21,278,849,914.36
Non-current assets:
Granting of loans and advances
Investments on creditor's rights
Financial assets available for sale 82,970,227.00
Other investments on creditor's rights
Held-to-maturity investments
Long-term receivables 2,480,468,764.43 1,861,485,568.28
Long-term equity investment 181,978,072.22 185,872,021.58
Other equity instrument investments
Other non-current financial assets 82,970,227.00
Investment properties 347,900,181.69 346,831,376.55
Fixed assets 1,401,032,946.90 1,407,471,330.83
Projects under construction 231,711,748.22 226,191,587.11
Productive biological assets
Oil and gas assets
Right-of-use assets
Intangible assets 368,037,008.04 372,467,409.09
Development expense
Goodwill 109,745,412.21 109,745,412.21
Long-term prepaid expenses 39,031,771.45 37,117,918.55
Deferred income tax assets 475,426,712.53 425,319,406.98
Other non-current assets 30,468,224.24 16,277,605.61
Subtotal of non-current assets 5,748,771,068.93 5,071,749,863.79
Total assets 25,249,751,298.42 26,350,599,778.15
Current liabilities:
Short-term loan 2,908,880,172.39 1,851,709,561.83
Borrowings from the Central Bank
Borrowings from banks and other
financial institutions
Trading financial liabilities 4,314,915.55
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2019 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Financial liabilities measured at fair
value with changes recognized into current 38,602,602.30
profit and loss
Derivative financial liabilities
Notes payable and accounts payable 5,647,489,443.82 7,461,315,698.99
Received pre-payments 472,153,342.43 343,297,891.20
Financial assets sold for repurchase
Deposit taking and interbank deposit
Receiving from vicariously traded
securities
Receiving from vicariously sold
securities
Payroll payable 486,255,924.62 1,124,358,611.94
Tax payable 341,186,897.43 599,478,049.81
Other payables 1,013,706,211.94 1,051,537,094.97
Including: interests payable 7,340,553.07 4,745,203.31
Dividends payable
Service charge and commission
payable
Reinsurance accounts payable
Contractual liabilities
Held-for-sale liabilities
Non-current liabilities due within 1
25,500,000.00 25,500,000.00
year
Other current liabilities 78,959,310.21 70,845,639.51
Subtotal of current liabilities 10,978,446,218.39 12,566,645,150.55
Non-current liabilities:
Insurance contract reserves
Long-term loan 179,000,000.00 179,000,000.00
Bonds payable
Including: preferred stocks
Perpetual bonds
Lease liabilities
Long-term payables
Long-term payroll payable
Expected liabilities 243,421,368.96 193,761,170.12
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2019 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Deferred income 57,900,377.53 58,693,533.40
Deferred income tax liabilities 49,635,458.14 50,137,969.76
Other non-current liabilities 456,775,480.73 399,096,280.89
Subtotal of non-current liabilities 986,732,685.36 880,688,954.17
Total liabilities 11,965,178,903.75 13,447,334,104.72
Shareholders' equity:
Share capital 2,997,577,730.00 2,997,621,930.00
Other equity instruments
Including: preferred stocks
Perpetual bonds
Capital reserves 1,547,144,808.22 1,501,180,862.83
Less: treasury share 807,372,472.00 807,733,586.00
Other comprehensive incomes 21,536,320.06 10,337,164.41
Special reserves
Surplus reserves 1,246,369,430.91 1,246,369,430.91
General risk reserves
Undistributed profits 7,987,327,022.35 7,670,983,116.33
Total shareholders' equity attributable to
12,992,582,839.54 12,618,758,918.48
the parent company
Minority shareholders' equity 291,989,555.13 284,506,754.95
Total shareholders' equity 13,284,572,394.67 12,903,265,673.43
Total liabilities and shareholders' equity 25,249,751,298.42 26,350,599,778.15
Legal representative: Fu Liquan Person in charge of accounting: Wei Meizhong Person in charge of the accounting
institution: Xu Qiaofen
2. Balance Sheet of the Parent Company
Unit: RMB
Item March 31, 2019 December 31, 2018
Current assets:
Monetary fund 152,724,456.67 611,190,236.01
Trading financial assets
Financial assets measured at fair
value with changes recognized into current
profit and loss
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2019 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Derivative financial assets
Notes receivable and accounts
4,944,891,210.90 5,551,148,625.96
receivable
Including: notes receivable 1,070,445,568.17 952,572,702.92
Accounts receivable 3,874,445,642.73 4,598,575,923.04
Pre-payments 26,904,344.76 26,772,044.53
Other receivables 7,503,145,920.62 6,954,655,863.03
Including: interests receivable 42,500.00
Dividends receivable
Inventory 172,681,553.68 120,181,267.85
Contractual assets
Held-for-sale assets
Non-current assets due within 1 year 52,015,403.28 50,793,137.80
Other current assets 5,768,760.74 24,858,982.78
Subtotal of current assets 12,858,131,650.65 13,339,600,157.96
Non-current assets:
Investments on creditor's rights
Financial assets available for sale 80,496,000.00
Other investments on creditor's rights
Held-to-maturity investments
Long-term receivables 164,850,489.71 160,299,143.83
Long-term equity investment 3,085,368,105.84 3,001,639,428.55
Other equity instrument investments
Other non-current financial assets 80,496,000.00
Investment properties 180,963,770.22 183,321,198.72
Fixed assets 479,817,819.21 496,363,638.38
Projects under construction 152,575,924.51 151,072,585.67
Productive biological assets
Oil and gas assets
Right-of-use assets
Intangible assets 170,256,158.63 170,879,747.04
Development expense
Goodwill
Long-term prepaid expenses 30,436,564.49 28,927,258.54
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2019 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Deferred income tax assets 61,990,058.11 40,821,902.57
Other non-current assets 129,584.70 929,380.00
Subtotal of non-current assets 4,406,884,475.42 4,314,750,283.30
Total assets 17,265,016,126.07 17,654,350,441.26
Current liabilities:
Short-term loan 2,046,841,815.43 1,380,000,000.00
Trading financial liabilities
Financial liabilities measured at fair
value with changes recognized into current
profit and loss
Derivative financial liabilities
Notes payable and accounts payable 331,422,612.56 1,065,528,900.01
Received pre-payments 63,522,498.49 80,361,211.04
Contractual liabilities
Payroll payable 318,529,714.36 817,723,936.19
Tax payable 188,386,974.21 351,294,836.50
Other payables 1,038,112,767.76 1,060,909,330.56
Including: interests payable 3,670,702.11 2,416,340.30
Dividends payable
Held-for-sale liabilities
Non-current liabilities due within 1
year
Other current liabilities 6,809,092.48 6,464,333.12
Subtotal of current liabilities 3,993,625,475.29 4,762,282,547.42
Non-current liabilities:
Long-term loan
Bonds payable
Including: preferred stocks
Perpetual bonds
Lease liabilities
Long-term payables
Long-term payroll payable
Expected liabilities 1,387,820.00 3,396,100.00
Deferred income
Deferred income tax liabilities
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2019 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Other non-current liabilities 23,568,083.39 23,684,423.74
Subtotal of non-current liabilities 24,955,903.39 27,080,523.74
Total liabilities 4,018,581,378.68 4,789,363,071.16
Shareholders' equity:
Share capital 2,997,577,730.00 2,997,621,930.00
Other equity instruments
Including: preferred stocks
Perpetual bonds
Capital reserves 1,541,000,010.41 1,497,801,068.88
Less: treasury share 807,372,472.00 807,733,586.00
Other comprehensive incomes
Special reserves
Surplus reserves 1,246,369,430.91 1,246,369,430.91
Undistributed profits 8,268,860,048.07 7,930,928,526.31
Total shareholders' equity 13,246,434,747.39 12,864,987,370.10
Total liabilities and shareholders' equity 17,265,016,126.07 17,654,350,441.26
3. Consolidated Income Statement
Unit: RMB
Item This period's amount of occurrence Previous period's amount of occurrence
I. Total operating income 4,347,918,104.26 3,617,652,691.40
Including: operating income 4,347,918,104.26 3,617,652,691.40
Interest income
Earned premiums
Service charge and commission
income
II. Total operating cost 4,251,849,773.85 3,408,142,945.83
Including: operating cost 2,719,715,306.27 2,207,716,754.78
Interest expenses
Service charge and commission
expenses
Surrender value
Net claims paid
Net amount withdrawn for insurance
contract reserves
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2019 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Policyholder dividend expense
Reinsurance cost
Taxes and surcharges 23,874,799.92 20,096,268.10
Sales cost 655,869,241.60 565,570,425.04
Administration cost 148,771,651.74 99,939,115.39
R&D cost 541,327,378.49 367,136,026.47
Financial cost 117,284,844.28 120,852,117.44
Including: interest cost 35,426,066.33 18,433,356.21
Interest income 39,467,635.58 26,376,191.13
Loss from impairment of assets 45,006,551.55 26,832,238.61
Loss from impairment of credit
Add: other incomes 193,253,518.07 128,684,631.99
Investment income (Mark "-" for loss) -9,778,727.73 -10,440,741.57
Including: investment gains from
-782,168.13 -11,061,652.58
affiliates and joint ventures
Exchange gains (Mark "-" for loss)
Net hedging gains from exposures
(Mark "-" for loss)
Gains from changes in fair value
34,436,817.76 2,692,200.00
(Mark "-" for loss)
Asset disposal gains (Mark "-" for loss) -13,523.79
III. Operating profit (Mark "-" for loss) 313,979,938.51 330,432,312.20
Add: non-operating income 6,715,442.18 2,133,831.13
Less: non-operating expense 512,570.47 1,235,146.38
IV. Total profit (Mark "-" for total loss) 320,182,810.22 331,330,996.95
Less: income tax cost 14,762,513.41 34,942,391.53
V. Net profit (Mark "-" for net loss) 305,420,296.81 296,388,605.42
(I) Classified by operation continuity
1. Net profit from continuing operation
305,420,296.81 296,388,605.42
(Mark "-" for net loss)
2. Net profit from discontinued operation
(Mark "-" for net loss)
(II) Classified by ownership
1. Net profit attributable to the owners of
316,343,906.02 295,523,140.67
the parent company
2. Minority shareholders' profit and loss -10,923,609.21 865,464.75
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2019 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
VI. Net amount of other comprehensive incomes
11,199,155.65 5,546,042.67
after taxes
Net amount of other comprehensive incomes
after taxes attributable to the owners of the 11,199,155.65 5,546,042.67
parent company
(I) Other comprehensive incomes that
cannot be reclassified as profit and loss
1. Changes resulting from
re-measurement of the defined benefit plan
2. Other comprehensive incomes
that cannot be transferred to profit and loss under
the equity method
3. Changes in fair value of other
equity instrument investments
4. Changes in fair value of
enterprise's own credit risk
5. Others
(II) Other comprehensive incomes that will
11,199,155.65 5,546,042.67
be reclassified as profit and loss
1. Other comprehensive incomes
that can be transferred to profit and loss under
the equity method
2. Changes in fair value of other
investments on creditor's rights
3. Profits and losses from changes in
fair value of available-for-sale financial assets
4. Amount of financial assets
reclassified as other comprehensive incomes
5. Profits and losses from
held-to-maturity investments reclassified as
available-for-sale financial assets
6. Other provisions for the
impairment of credit in investments on creditor's
rights
7. Hedging reserves for cash flow
8. Difference from the conversion of
11,199,155.65 5,546,042.67
foreign currency statements
9. Others
Net amount of other comprehensive incomes
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2019 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
after taxes attributable to minority shareholders
VII. Total comprehensive income 316,619,452.46 301,934,648.09
Total comprehensive income attributable to
327,543,061.67 301,069,183.34
the owners of the parent company
Total comprehensive income attributable to
-10,923,609.21 865,464.75
minority shareholders
VIII. Earnings per share:
(I) Basic earnings per share 0.11 0.10
(II) Diluted earnings per share 0.11 0.10
For statement consolidation for the enterprises under the same control in this period, the net profit realized by the consolidated party
before the consolidation is: RMB. The net profit realized by the consolidated party in previous period is: RMB.
Legal representative: Fu Liquan Person in charge of accounting: Wei Meizhong Person in charge of the accounting
institution: Xu Qiaofen
4. Income Statement of the Parent Company
Unit: RMB
Item This period's amount of occurrence Previous period's amount of occurrence
I. Operating income 1,160,709,728.28 1,458,256,770.27
Less: operating cost 111,231,656.05 415,219,943.24
Taxes and surcharges 13,406,573.12 15,120,966.67
Sales cost 327,870,861.50 309,704,200.14
Administration cost 81,251,635.80 44,795,649.77
R&D cost 456,283,172.66 318,585,135.77
Financial cost 15,403,187.19 -17,699,076.75
Including: interest cost 25,906,898.88 6,101,362.80
Interest income 10,767,232.85 23,796,931.31
Loss from impairment of
-5,848,611.97 2,264,906.05
assets
Loss from impairment of
credit
Add: other incomes 182,806,535.54 121,175,350.16
Investment income (Mark "-"
1,320,536.95 -10,475,553.89
for loss)
Including: investment gains
-60,631.89 -11,061,652.58
from affiliates and joint ventures
Net hedging gains from
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2019 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
exposures (Mark "-" for loss)
Gains from changes in fair
value (Mark "-" for loss)
Asset disposal gains (Mark
-13,523.79
"-" for loss)
II. Operating profit (Mark "-" for loss) 345,238,326.42 480,951,317.86
Add: non-operating income 1,881,023.83 1,866,412.07
Less: non-operating expense 282,834.14 70,622.62
III. Total profit (Mark "-" for total loss) 346,836,516.11 482,747,107.31
Less: income tax cost 8,904,994.35 55,047,331.08
IV. Net profit (Mark "-" for net loss) 337,931,521.76 427,699,776.23
(I) Net profit from continuing
337,931,521.76 427,699,776.23
operation (Mark "-" for net loss)
(II) Net profit from discontinued
operation (Mark "-" for net loss)
V. Net amount of other comprehensive
incomes after taxes
(I) Other comprehensive incomes
that cannot be reclassified as profit and
loss
1. Changes resulting from
re-measurement of the defined benefit
plan
2. Other comprehensive
incomes that cannot be transferred to
profit and loss under the equity method
3. Changes in fair value of
other equity instrument investments
4. Changes in fair value of
enterprise's own credit risk
5. Others
(II) Other comprehensive incomes
that will be reclassified as profit and
loss
1. Other comprehensive
incomes that can be transferred to profit
and loss under the equity method
2. Changes in fair value of
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2019 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
other investments on creditor's rights
3. Profits and losses from
changes in fair value of
available-for-sale financial assets
4. Amount of financial
assets reclassified as other
comprehensive incomes
5. Profits and losses from
held-to-maturity investments
reclassified as available-for-sale
financial assets
6. Other provisions for the
impairment of credit in investments on
creditor's rights
7. Hedging reserves for
cash flow
8. Difference from the
conversion of foreign currency
statements
9. Others
VI. Total comprehensive income 337,931,521.76 427,699,776.23
VII. Earnings per share:
(I) Basic earnings per share 0.12 0.15
(II) Diluted earnings per share 0.12 0.15
5. Consolidated Cash Flow Statement
Unit: RMB
Item This period's amount of occurrence Previous period's amount of occurrence
I. Cash flow from operational
activities:
Cash from sales of merchandise
5,084,524,142.75 4,211,360,373.46
and provision of services
Net increase in customer's bank
deposit and interbank deposit
Net increase in borrowings from
the Central Bank
Net increase in borrowings from
other financial institutions
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2019 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Cash from receiving premiums for
the original insurance contract
Net amount from reinsurance
business
Net increase in deposits and
investments from policyholders
Net increase in financial assets
measured at fair value with changes
recognized into current profit and loss
Cash from interests, service
charges and commissions
Net increase in borrowings from
banks and other financial institutions
Net increase in repurchase
business fund
Net cash from receiving from
vicariously traded securities
Tax refund 458,798,417.38 415,701,884.80
Other received cashes related to
38,953,212.45 40,712,592.60
operational activities
Subtotal of cash inflow from 5,582,275,772.58
4,667,774,850.86
operational activities
Cash paid for merchandise and 4,827,278,072.02
3,781,495,185.28
services
Net increase in loans and
advances to customers
Net increase in deposits with the
Central Bank and other financial
institutions
Cash paid for original insurance
contract claims
Net increase in financial assets
held for trading purpose
Net increase in loans to banks and
other financial institutions
Cash paid for interests, service
charges and commissions
Cash paid for policy dividends
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2019 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Cash paid to and for employees 1,591,249,215.21 1,247,603,790.17
Cash paid for taxes and surcharges 517,455,490.85 392,555,916.83
Other cashes paid for operational
374,780,207.41 532,415,118.72
activities
Subtotal of cash outflow from 7,310,762,985.49
5,954,070,011.00
operational activities
Net cash flow from operational -1,728,487,212.91
-1,286,295,160.14
activities
II. Cash flow from investment
activities:
Cash from disposal of investments 106,300,000.00
Cash from investment gains 21,168.84 620,911.02
Net cash from disposal of fixed
assets, intangible assets and other 3,514,007.57 164,288.72
long-term assets
Net cash from disposal of
subsidiaries and other business units
Other received cashes related to
2,853,407.03
investment activities
Subtotal of cash inflow from
6,388,583.44 107,085,199.74
investment activities
Cash paid for purchase and
construction of fixed assets, intangible 134,928,482.99 101,042,468.25
assets and other long-term assets
Cash paid for investments 12,200,000.00 126,300,000.00
Net increase in pledge loans
Net cash paid for acquisition of
93,019,565.77
subsidiaries and other business units
Other cashes paid for investment
19,920,975.30 80,892,025.18
activities
Subtotal of cash outflow from
167,049,458.29 401,254,059.20
investment activities
Net cash flow from investment
-160,660,874.85 -294,168,859.46
activities
III. Cash flow from financing
activities:
Cash from absorbing investments 15,949,250.00 4,400,000.00
Including: cash from subsidiaries 15,949,250.00 4,400,000.00
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2019 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
absorbing investments by minority
shareholders
Cash from borrowings 2,694,932,981.06 1,723,234,241.10
Cash from bond issue
Other received cashes related to
705,446,141.85 223,726,180.00
financing activities
Subtotal of cash inflow from financing
3,416,328,372.91 1,951,360,421.10
activities
Cash paid for debts repayment 1,536,335,296.99 1,073,430,976.54
Cash paid for distribution of
dividends and profits or payment of 25,649,072.19 16,748,941.37
interests
Including: dividends and profits
paid to minority shareholders by
subsidiaries
Other cashes paid for financing
741,523,904.02 547,214,999.99
activities
Subtotal of cash outflow from
2,303,508,273.20 1,637,394,917.90
financing activities
Net cash flow from financing activities 1,112,820,099.71 313,965,503.20
IV. Impact of fluctuation in exchange
-38,821,971.01 -10,211,961.36
rates on cash and cash equivalents
V. Net increase in cash and cash
-815,149,959.06 -1,276,710,477.76
equivalents
Add: cash and cash equivalents at
3,702,283,803.54 3,062,678,993.88
the start of the period
VI. Cash and cash equivalents at the
2,887,133,844.48 1,785,968,516.12
end of the period
6. Cash Flow Statement of the Parent Company
Unit: RMB
Item This period's amount of occurrence Previous period's amount of occurrence
I. Cash flow from operational
activities:
Cash from sales of merchandise
1,237,857,022.90 2,898,163,592.45
and provision of services
Tax refund 178,394,009.37 119,875,350.16
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2019 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Other received cashes related to
11,635,775.73 4,401,729.41
operational activities
Subtotal of cash inflow from
1,427,886,808.00 3,022,440,672.02
operational activities
Cash paid for merchandise and
238,102,377.98 475,265,943.57
services
Cash paid to and for employees 1,085,112,295.39 850,389,026.13
Cash paid for taxes and surcharges 296,316,540.83 248,509,633.49
Other cashes paid for operational
224,380,235.96 256,284,196.59
activities
Subtotal of cash outflow from
1,843,911,450.16 1,830,448,799.78
operational activities
Net cash flow from operational
-416,024,642.16 1,191,991,872.24
activities
II. Cash flow from investment
activities:
Cash from disposal of investments 100,300,000.00
Cash from investment gains 21,168.84 586,098.69
Net cash from disposal of fixed
assets, intangible assets and other 11,510,391.55 1,774,332.18
long-term assets
Net cash from disposal of
subsidiaries and other business units
Other received cashes related to
8,041,013.16
investment activities
Subtotal of cash inflow from
19,572,573.55 102,660,430.87
investment activities
Cash paid for purchase and
construction of fixed assets, intangible 57,245,412.46 15,115,419.84
assets and other long-term assets
Cash paid for investments 89,195,750.00 314,992,000.00
Net cash paid for acquisition of
subsidiaries and other business units
Other cashes paid for investment
activities
Subtotal of cash outflow from
146,441,162.46 330,107,419.84
investment activities
Net cash flow from investment -126,868,588.91 -227,446,988.97
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2019 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
activities
III. Cash flow from financing
activities:
Cash from absorbing investments
Cash from borrowings 1,213,811,815.43 400,000,000.00
Cash from bond issue
Other received cashes related to
360,369,553.55 99,088,354.50
financing activities
Subtotal of cash inflow from financing
1,574,181,368.98 499,088,354.50
activities
Cash paid for debts repayment 546,970,000.00 200,000,000.00
Cash paid for distribution of
dividends and profits or payment of 16,701,289.76 5,127,142.86
interests
Other cashes paid for financing
928,248,678.61 1,691,125,187.17
activities
Subtotal of cash outflow from
1,491,919,968.37 1,896,252,330.03
financing activities
Net cash flow from financing activities 82,261,400.61 -1,397,163,975.53
IV. Impact of fluctuation in exchange
-155,662.94 -315,485.45
rates on cash and cash equivalents
V. Net increase in cash and cash
-460,787,493.40 -432,934,577.71
equivalents
Add: cash and cash equivalents at
603,430,209.42 524,670,812.68
the start of the period
VI. Cash and cash equivalents at the
142,642,716.02 91,736,234.97
end of the period
II. Adjustments to Financial Statements
1. Adjustment to financial statements at the beginning of the year during the implementation of new
accounting standards for financial instruments, new income standards or new lease standards for the first
time
√ Applicable □ Not applicable
Consolidated Balance Sheet
Unit: RMB
Item December 31, 2018 January 1, 2019 Adjusted amount
Current assets:
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2019 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Monetary fund 4,160,153,847.06 4,160,153,847.06
Notes receivable and
12,577,066,194.44 12,577,066,194.44
accounts receivable
Including: notes
2,385,693,417.06 2,385,693,417.06
receivable
Accounts
10,191,372,777.38 10,191,372,777.38
receivable
Pre-payments 126,891,259.00 126,891,259.00
Other receivables 398,170,769.40 398,170,769.40
Including: interests
6,754,941.00 6,754,941.00
receivable
Inventory 3,035,579,709.14 3,035,579,709.14
Non-current assets due
578,733,057.27 578,733,057.27
within 1 year
Other current assets 402,255,078.05 402,255,078.05
Subtotal of current assets 21,278,849,914.36 21,278,849,914.36
Non-current assets:
Financial assets
82,970,227.00 NA -82,970,227.00
available for sale
Long-term receivables 1,861,485,568.28 1,861,485,568.28
Long-term equity
185,872,021.58 185,872,021.58
investment
Other non-current
NA 82,970,227.00 82,970,227.00
financial assets
Investment properties 346,831,376.55 346,831,376.55
Fixed assets 1,407,471,330.83 1,407,471,330.83
Projects under
226,191,587.11 226,191,587.11
construction
Intangible assets 372,467,409.09 372,467,409.09
Goodwill 109,745,412.21 109,745,412.21
Long-term prepaid
37,117,918.55 37,117,918.55
expenses
Deferred income tax
425,319,406.98 425,319,406.98
assets
Other non-current assets 16,277,605.61 16,277,605.61
Subtotal of non-current assets 5,071,749,863.79 5,071,749,863.79
Total assets 26,350,599,778.15 26,350,599,778.15
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2019 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Current liabilities:
Short-term loan 1,851,709,561.83 1,851,709,561.83
Trading financial
NA 38,602,602.30 38,602,602.30
liabilities
Financial liabilities
measured at fair value with
38,602,602.30 NA -38,602,602.30
changes recognized into
current profit and loss
Notes payable and
7,461,315,698.99 7,461,315,698.99
accounts payable
Received pre-payments 343,297,891.20 343,297,891.20
Payroll payable 1,124,358,611.94 1,124,358,611.94
Tax payable 599,478,049.81 599,478,049.81
Other payables 1,051,537,094.97 1,051,537,094.97
Including: interests
4,745,203.31 4,745,203.31
payable
Non-current liabilities
25,500,000.00 25,500,000.00
due within 1 year
Other current liabilities 70,845,639.51 70,845,639.51
Subtotal of current liabilities 12,566,645,150.55 12,566,645,150.55
Non-current liabilities:
Long-term loan 179,000,000.00 179,000,000.00
Expected liabilities 193,761,170.12 193,761,170.12
Deferred income 58,693,533.40 58,693,533.40
Deferred income tax
50,137,969.76 50,137,969.76
liabilities
Other non-current
399,096,280.89 399,096,280.89
liabilities
Subtotal of non-current
880,688,954.17 880,688,954.17
liabilities
Total liabilities 13,447,334,104.72 13,447,334,104.72
Shareholders' equity:
Share capital 2,997,621,930.00 2,997,621,930.00
Capital reserves 1,501,180,862.83 1,501,180,862.83
Less: treasury share 807,733,586.00 807,733,586.00
Other comprehensive
10,337,164.41 10,337,164.41
incomes
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2019 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Surplus reserves 1,246,369,430.91 1,246,369,430.91
Undistributed profits 7,670,983,116.33 7,670,983,116.33
Total shareholders' equity
attributable to the parent 12,618,758,918.48 12,618,758,918.48
company
Minority shareholders'
284,506,754.95 284,506,754.95
equity
Total shareholders' equity 12,903,265,673.43 12,903,265,673.43
Total liabilities and
26,350,599,778.15 26,350,599,778.15
shareholders' equity
Notes
In accordance with Accounting Standards for Business Enterprises No. 22 - Recognition and Measurement of Financial Instruments,
Accounting Standards for Business Enterprises No. 23 - Transfer of Financial Assets and Accounting Standards for Business
Enterprises No. 24 - Hedge Accounting promulgated by the Ministry of Finance on March 31, 2017 and the Accounting Standard for
Business Enterprises No. 37 - Presentation of Financial Instruments revised and published by the Ministry of Finance on May 2,
2017 (collectively referred to as the "New Accounting Standards for Financial Instruments"), domestic listed companies are required
to implement accordingly starting from January 1, 2019.
According to the requirements in the above revised accounting standards, the Company started to implement the new standards since
January 1, 2019. The Company adjusted the items previously listed as financial liabilities measured at fair value with changes
recognized into current profit and loss to trading financial liabilities; the equity investment measured using cost method and listed as
available-for-sale financial assets to other non-current financial assets.
Balance Sheet of the Parent Company
Unit: RMB
Item December 31, 2018 January 1, 2019 Adjusted amount
Current assets:
Monetary fund 611,190,236.01 611,190,236.01
Notes receivable and
5,551,148,625.96 5,551,148,625.96
accounts receivable
Including: notes
952,572,702.92 952,572,702.92
receivable
Accounts
4,598,575,923.04 4,598,575,923.04
receivable
Pre-payments 26,772,044.53 26,772,044.53
Other receivables 6,954,655,863.03 6,954,655,863.03
Including: interests
42,500.00 42,500.00
receivable
Inventory 120,181,267.85 120,181,267.85
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2019 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Non-current assets due
50,793,137.80 50,793,137.80
within 1 year
Other current assets 24,858,982.78 24,858,982.78
Subtotal of current assets 13,339,600,157.96 13,339,600,157.96
Non-current assets:
Financial assets
80,496,000.00 NA -80,496,000.00
available for sale
Long-term receivables 160,299,143.83 160,299,143.83
Long-term equity
3,001,639,428.55 3,001,639,428.55
investment
Other non-current
NA 80,496,000.00 80,496,000.00
financial assets
Investment properties 183,321,198.72 183,321,198.72
Fixed assets 496,363,638.38 496,363,638.38
Projects under
151,072,585.67 151,072,585.67
construction
Intangible assets 170,879,747.04 170,879,747.04
Long-term prepaid
28,927,258.54 28,927,258.54
expenses
Deferred income tax
40,821,902.57 40,821,902.57
assets
Other non-current assets 929,380.00 929,380.00
Subtotal of non-current assets 4,314,750,283.30 4,314,750,283.30
Total assets 17,654,350,441.26 17,654,350,441.26
Current liabilities:
Short-term loan 1,380,000,000.00 1,380,000,000.00
Notes payable and
1,065,528,900.01 1,065,528,900.01
accounts payable
Received pre-payments 80,361,211.04 80,361,211.04
Payroll payable 817,723,936.19 817,723,936.19
Tax payable 351,294,836.50 351,294,836.50
Other payables 1,060,909,330.56 1,060,909,330.56
Including: interests
2,416,340.30 2,416,340.30
payable
Other current liabilities 6,464,333.12 6,464,333.12
Subtotal of current liabilities 4,762,282,547.42 4,762,282,547.42
32
2019 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Non-current liabilities:
Expected liabilities 3,396,100.00 3,396,100.00
Other non-current
23,684,423.74 23,684,423.74
liabilities
Subtotal of non-current
27,080,523.74 27,080,523.74
liabilities
Total liabilities 4,789,363,071.16 4,789,363,071.16
Shareholders' equity:
Share capital 2,997,621,930.00 2,997,621,930.00
Capital reserves 1,497,801,068.88 1,497,801,068.88
Less: treasury share 807,733,586.00 807,733,586.00
Surplus reserves 1,246,369,430.91 1,246,369,430.91
Undistributed profits 7,930,928,526.31 7,930,928,526.31
Total shareholders' equity 12,864,987,370.10 12,864,987,370.10
Total liabilities and
17,654,350,441.26 17,654,350,441.26
shareholders' equity
Notes
2. Explanation on the retroactive adjustment to previous comparative data during the implementation of
new accounting standards for financial instruments and new lease standards for the first time
□ Applicable √ Not applicable
III. Audit Report
Whether the Q1 report has been audited
□ Yes √ No
The Q1 report of the Company has not been audited yet.
Board of Directors of Zhejiang Dahua Technology Co., Ltd.
Chairman: Fu Liquan
April 26, 2019
33
