2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Zhejiang Dahua Technology Co., Ltd.
2021 Q1 Report
April, 2021
This document is a translated version of the Chinese version 2021 Q1 Report (“2021 年第一季度报告”),
and the published 2021 Q1 Report in the Chinese version shall prevail.
The complete published Chinese 2021 Q1 Report may be obtained at http://www.cninfo.com.cn.
1
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Section I Important Notice
The Board of Directors, the Board of Supervisors, directors,
supervisors and senior management members of the Company hereby
guarantee that the information presented in this quarterly report is
authentic, accurate, complete and free of any false records, misleading
statements or material omissions, and they will bear joint and several
liability for such information.
All the directors attended the meeting of the Board of Directors for
the deliberation of this quarterly report.
Fu Liquan, the Company's legal representative, Xu Qiaofen, chief
accountant, and Zhu Zhuling, person in charge of accounting institution
(Accounting Officer) hereby declare and warrant that the financial
statements in the quarterly report are authentic, accurate, and complete.
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2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Section II Basic Information about the Company
I. Key Accounting Data and Financial Indicators
Whether the Company needs performed retroactive adjustment or restatement of accounting data in prior years or not
□ Yes √ No
Increase/Decrease of the
Current Reporting Period
The Current Reporting The Same Period of Last
Compared with the Same
Period Year
Period of the Previous
Year
Operating Income (RMB) 5,114,399,101.72 3,501,562,275.80 46.06%
Net Profit Attributable to Shareholders
347,573,484.46 317,916,471.89 9.33%
of the Listed Company (RMB)
Net Profit Attributable to Shareholders
of the Listed Company after Deducting 311,445,134.94 300,408,224.85 3.67%
Non-recurring Gains and Losses (RMB)
Net Cash Flow Generated by
-1,327,570,256.40 -1,190,517,598.97 -11.51%
Operational Activities (RMB)
Basic Earnings per Share (RMB/Share) 0.12 0.11 9.09%
Diluted Earnings per Share
0.12 0.11 9.09%
(RMB/Share)
Weighted Average ROE 1.74% 2.01% -0.27%
Increase/Decrease at the
End of the Current
At the End of the Current At the End of the
Reporting Period
Reporting Period Previous Year
Compared with the End of
the Previous Year
Total assets (RMB) 37,793,288,583.82 36,595,034,080.75 3.27%
Net assets attributable to shareholders
20,730,157,335.50 19,773,030,426.40 4.84%
of the listed company (RMB)
Note: The investment income of current period is decreased by RMB 59 million compared with the same period of
previous year, a year-on-year decrease of 377.53%, mainly due to confirmed loss of RMB 98 million investment in
Leapmotor, an associate.
Non-recurring Gains and Losses Items and Their Amounts
√ Applicable □ Not applicable
Unit: RMB
Item The Amount from the Note
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2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Beginning of the Year to
the End of the Current
Reporting Period
Profits or Losses from Disposal of Non-current Assets
(Including the Write-off for the Accrued Impairment of 483,524.47
Assets)
The Government Subsidies Included in the Current Profits
and Losses (Excluding the Government Subsidies Closely
20,323,912.52
Related to Regular Businesses of the Company And Issued
in the Quota or Quantity Based on the National Standards)
Gains or Losses From Investment or Asset Management
-2,913,829.24
Entrusted to Others
Profits and Losses Resulting from the Changes in Fair Value
for Holding Trading Financial Assets, Derivative Financial
Assets and Trading Financial Liabilities, Derivative Financial
Liabilities and Investment Income from Disposal of Trading
Financial Assets, Derivative Financial Assets, Trading 27,365,451.74
Financial Liabilities, Derivative Financial Liabilities, and
Other Obligatory Right Investment, Excluding the Effective
Hedging Businesses Related to the Regular Business
Operation of the Company
Non-operating Revenue and Expenses Other than the
1,484,792.89
above
Other Gains and Losses Items that Fit the Definition of
169,645.79
Non-Recurring Gains and Losses
Less: Impact of Income Tax 7,098,388.91
Impact of Minority Equity (After Tax) 3,686,759.74
Total 36,128,349.52 --
For items defined as non-recurring gains and losses according to the No. 1 Explanatory Announcement on Information
Disclosure for Companies Offering Their Securities to Public - Non-recurring Gains and Losses, or non-recurring gains
and losses items listed in the said document defined as recurring ones, please specify the reasons.
□ Applicable √ Not applicable
In the reporting period, the Company did not define any non-recurring gains and losses items defined and listed in the No.
1 Explanatory Announcement on Information Disclosure for Companies Offering Their Securities to Public - Non-recurring
Gains and Losses, as recurring gains and losses items.
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2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
II. The Total Number of Shareholder and the Holdings of the Top 10 Shareholders at
the End of the Current Reporting Period
1. The total number of common shareholders, the number of preferred shareholders with
restored voting rights and shareholding status of the top 10 shareholders
Unit: share
Total Number of Preferred
Total Number of Common Shareholders (If Any) Whose
Shareholders at The End of The 143,572 Voting Rights have been 0
Reporting Period Recovered at the End of the
Reporting Period
The shareholdings of the top 10 shareholders
Number of Pledge or Freezing
Shares Held
Name of Nature of Shareholding Number of
with Limited
Shareholder Shareholder Percentage Shares Held State of Shares Number
Sales
Conditions
Domestic
Fu Liquan 34.18% 1,023,868,980 767,901,735 Pledge 257,587,942
Natural Person
Domestic
Zhu Jiangming 5.36% 160,577,490 120,433,117 Pledge 37,000,000
Natural Person
Shanghai
Perseverance
Asset
Management
(Limited Others 3.84% 115,000,000 0
Partnership) -
Gaoyi Linshan
No.1 Yuanwang
Fund
Hong Kong
Securities Overseas Legal
3.81% 114,260,034 0
Clearing Co. Person
Ltd.
Domestic
Chen Ailing 2.38% 71,262,813 53,447,110 Pledge 21,100,000
Natural Person
Domestic
Wu Jun 2.31% 69,250,886 51,938,164
Natural Person
China Galaxy State-owned
1.61% 48,262,726 0
Securities Co., Legal Person
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2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Ltd.
China Securities Domestic
Finance Co., Non-state-owne 1.32% 39,611,241 0
Ltd. d Legal Person
Central Huijin
Asset State-owned
1.05% 31,448,750 0
Management Legal Person
Co., Ltd.
Shanghai
Greenwoods
Asset
Management Others 0.95% 28,361,893 0
Co., Ltd. -
Greenwoods
Global Fund
Shareholding List of Top Ten Shareholders without Limited Sales Condition
Number of Shares Held without Limited Sales Type of Shares
Name of Shareholder
Condition Type of Shares Number
RMB common
Fu Liquan 255,967,245 255,967,245
stock
Shanghai Perseverance Asset
Management (Limited RMB common
115,000,000 115,000,000
Partnership) - Gaoyi Linshan stock
No.1 Yuanwang Fund
Hong Kong Securities Clearing RMB common
114,260,034 114,260,034
Co. Ltd. stock
RMB common
China Galaxy Securities Co., Ltd. 48,262,726 48,262,726
stock
RMB common
Zhu Jiangming 40,144,373 40,144,373
stock
China Securities Finance Co., RMB common
39,611,241 39,611,241
Ltd. stock
Central Huijin Asset Management RMB common
31,448,750 31,448,750
Co., Ltd. stock
Shanghai Greenwoods Asset
RMB common
Management Co., Ltd. - 28,361,893 28,361,893
stock
Greenwoods Global Fund
Agricultural Bank of China Co.,
RMB common
Ltd.- Shanghai Investment 18,691,142 18,691,142
stock
Morgan Emerging Power Hybrid
6
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Securities Investment Fund
RMB common
Chen Ailing 17,815,703 17,815,703
stock
Description of the association Mr. Fu Liquan And Ms. Chen Ailing Are Husband And Wife. The Company Is Unaware
relationship or concerted action Of Whether Other Shareholders Have Associated Relationship Or Are Persons Acting
of above-mentioned shareholders In Concert.
Explanation On Top Ten
Shareholders’ Participation In N/A
Securities Margin Trading (If Any)
Whether the Company's top ten common shareholders or top ten common shareholders without limited shares agree on
any repurchase transaction in the reporting period
□ Yes √ No
None of the Company's top ten common shareholders or top ten common shareholders without limited shares agreed on
repurchase in the reporting period.
2. The total number of the preferred shareholders and the shareholdings of the top 10 preferred
shareholders
□ Applicable √ Not applicable
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2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Section III Significant Events
I. The Changes in Major Financial Data and Financial Indicators in the Current
Reporting Period and the Reasons
√ Applicable □ Not applicable
i. The changes of assets and liabilities and the reasons
1. Trading Financial Assets increased by 20374.31% compared with end of the previous year, mainly due to newly
increased structured deposits in this period.
2. Long-term Equity Investment increased by 90.50% compared with end of the previous year, mainly due to the change in
Shareholders' Equity of company's associates in the current period, and the company confirmed the corresponding share
according to the shareholding ratio;
3. Other Non-current Financial Assets increased by 140.57% compared with end of the previous year, mainly due to
investment of RMB 500 million in new asset management plan in this period;
4. The right-of-use Assets increased by 100% compared with end of the previous year, mainly due to the implementation
of the new lease standards and related statement adjustment in this period.
5. Intangible assets increased by 46.08% compared with end of the previous year, mainly due to the newly purchased
land in this period.
6. Short-term loan increased by 392.23% compared with end of the previous year, mainly due to the increase of bank loan
in this period;
7. Transaction financial liabilities increased by 100% compared with end of the previous year, mainly due to changes in
the fair value of foreign currency exchange contracts in this period;
8. The salary payable to employees decreased by 64.09% compared with end of the previous year, mainly due to the
issuance of year-end bonus in this period;
9. Non-current liabilities due within one year increased by 50.83% compared with end of the previous year, mainly due to
the implementation of the new lease standards and reclassification of lease liabilities due within one year in this period;
10. Other Current Liabilities increased by 35.83% compared with end of the previous year, mainly due to the increase in
the bills to be unrecognized compared in this period;
11. Long-term Loan increased by 56.95% compared with end of the previous year, mainly due to the increase of long-term
bank loan in this period;
12. Lease Liabilities increased by 100% compared with end of the previous year, mainly due to implementation of the new
lease standards and related adjustments in this period;
13. The Capital Reserves increased by 30.03% compared with end of the previous year, mainly due to confirmed increase
of the changes in other rights and interests of associates in this period;
(II) The changes of items in the income statement and the reasons
1. Operating income increased by 46.06% compared with same period of previous year, mainly due to expansion of the
company's sales scale;
2. Operating Costs increased by 70.02% compared with same period of the previous year, mainly due to the cost
increases as the revenue grows;
3. Taxes and Surcharges increased by 142.08% compared with same period of previous year, mainly due to the increase
of turnover tax payable in this period;
4. Financial Expenses decreased by 41.67% compared with same period of previous year, mainly due to the increase in
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2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
interest income in this period;
5. Other Income decreased by 30.94% compared with same period of the previous year, mainly due to the decrease in
value-added tax refund;
6. Investment Income decreased by 377.53% compared with same period of the previous year, mainly due to confirmed
investment losses of associates in this period;
7. The gains and losses from changes in fair value increased by 100% compared with same period of the previous year,
mainly due to the increase of fair value changes in Other Non-current Financial Assets;
8. Credit Impairment Losses increased by 185.89% compared with same period of the previous year, mainly due to the
increase of the provisions for bad debts accrued in this period;
9. Asset Impairment Losses increased by 212.70% compared with same period of the previous year, mainly due to the
increase of inventory depreciation provisions made during the current period;
10. Non-operating Revenues increased by 56.93% compared with the same period of previous year, mainly due to the
increase of contract liquidated damages received in this period;
11. Non-operating Expenses decreased by 71.87% compared with same period of previous year, mainly due to the
decrease of donation in this period;
12. Income Tax Expenses increased by 119.29% over the same period of the previous year, mainly due to the increase of
taxable income in this period;
(III) The changes of items in the cash flow statement and the reasons
1. The net amount of cash flow generated by investment activities decreased by 320.94% compared with same period of
the previous year, mainly due to the increase of entrusted financial management investment in this period.
II. Progress of Significant Events and the Analysis of Its Influence and Solutions
√ Applicable □ Not applicable
1. On January 8, 2021, the eighth meeting of the seventh Board of Directors of the company reviewed and approved the
"Proposal on Joint Capital Increase and Related Party Transactions with Related Parties", and agreed that the company
and related parties Zhang Xingming, He Chao, Ningbo Huaqi Investment Management Partnership (Limited Partnership),
Hangzhou Kangpi Enterprise Management Partnership (Limited Partnership) and non-related party Yao Weizhong to sign
the "Agreement on Equity Transfer and Capital Increase of Zhejiang Healnoc Technology Co., Ltd.". The company and
related parties Zhang Xingming, He Chao, Ningbo Huaqi Investment Management Partnership (Limited Partnership),
Hangzhou Kangpi Enterprise Management Partnership (Limited Partnership) and unrelated party Yao Weizhong
contributed RMB 50 million in total to Zhejiang Healnoc Technology Co., Ltd. (referred to as " Healnoc") as capital
increase. In which, the company invested RMB 20 million of its own funds, holding 20% of Healnoc equity, and Healnoc
became a shareholding company. The procedures for industrial and commercial change of the above matters have been
completed in February 2021.
2. On January 8, 2021, the eighth meeting of company seventh Board of Directors reviewed and approved "Proposal on
Giving up Shareholding Company Equity Increase in Capital and Related Party Transactions". Zhu Jiangming, Gao Dong,
Chen Jinxia, Ningbo Hualing Investment management partnership( limited partnership), total of 14 investors made a B-1
round of capital increase in Leapmotor Technology. The related transaction amount of company giving up the right to
increase capital in the same proportion was RMB 458,459 million. The procedures for the industrial and commercial
change of the above matters have been completed in January 2021.
3. On January 27, 2021, the ninth meeting of the seventh Board of Directors the company reviewed and approved
"Proposal on Giving up the Shareholding Company Equity Increase in Capital and Related Party Transactions". A total of
10 investors, including Zhejiang Mituo Investment Co., Ltd., Gao Dong, Huzhou Heninghai Investment Partnership
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2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
(Limited Partnership), intended to make a B-2 round of capital increase in Leapmotor. The amount of related party
transactions involved in the company's abandonment of the right to increase capital in the same proportion was RMB
166,835.46 million. The procedures for the industrial and commercial change of the above matters have been completed
in January 2021.
4. On March 26, 2021, the twelfth meeting of the seventh Board of Directors of the company and the eighth meeting of the
company seventh Board of Supervision, reviewed and approved "Proposal on Processing Scheme of Non-public
Issuance of Shares of Year 2021", "Proposal on Plan of Non-public Issuance of Shares of Year 2021" "Proposal on
Signing of agreement( Subscription Agreement for Non-public Issuance of Shares with Effective Conditions) between
company and the subscriber", "Proposal on Company Introducing Strategic Investors and Signing of Agreement (Strategic
Cooperation Agreement with Effective Conditions)", "Proposal on Company Non-public Issuance of Shares Related Party
Transactions" and so on. The company planned to issue 312,151,600 non-public shares, and the total amount of funds
raised did not exceed RMB 5.6 billion (including RMB 5.6 billion). The target company of this non-public issuance is China
Mobile Capital Holdings Co., Ltd., which is the wholly-owned subsidiary of China Mobile Communications Group Co.,
Ltd.,.
5. On April 1, 2021, the thirteenth meeting of the seventh Board of Directors and the ninth meeting of hte seventh Board of
Supervisors of the company, reviewed and approved the "Proposal of restricted share incentive plan for the second unlock
period of the first grant and reserving the achievement for the first unlock of Year 2018 " It approved to unlock 29,431,520
restricted shares held by 2,889 incentive targets who met the share unlock conditions. The matter was completed on April
15, 2021.
6. On April 1, 2021, the thirteenth meeting of the seventh Board of Directors of the company and the ninth meeting of the
seventh Board of Supervisors of the company reviewed and approved the "Proposal on Repurchase and Cancellation of
Part of Restricted Share (granted but not yet unlocked)". It approved to repurchase 1,028,860 restricted shares that have
been granted but not yet unlocked, held by 65 ex-employees , including 882,360 shares of first time granted at repurchase
price of RMB 8.17 per share and 146,500 reserved shares at a purchase price of RMB 8.75 per share. The aforesaid
repurchase and cancellation matters need to be submitted to the General Meeting of shareholders for approval.
Indexes for the Inquiry of Websites
Overview of the Significant Events Date of Disclosure
Disclosing the Provisional Reports
Related party transactions over capital increase in Healnoc Juchao Information Website
January 9, 2021
with related parties http://www.cninfo.com.cn/
Related matters on giving up the right to increase capital in Juchao Information Website
January 9, 2021
the same proportion of Leapmotor, a shareholding company http://www.cninfo.com.cn/
Related matters on giving up the right to increase capital in Juchao Information Website
January 28, 2021
the same proportion of Leapmotor, a shareholding company http://www.cninfo.com.cn/
Details of company non-public issuance of shares in Year Juchao Information Website
March 27, 2021
2021 http://www.cninfo.com.cn/
Matters concerning the conditions for the first granting of
Juchao Information Website
the second unlock period and reserved granting of the first April 02, 2021
http://www.cninfo.com.cn/
unlock period in 2018 Restricted Stock Incentive Plan
Details of repurchase and cancellation of restricted shares Juchao Information Website
April 02, 2021
that have been granted but not yet unlocked http://www.cninfo.com.cn/
The progress on share repurchase
□ Applicable √ Not applicable
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2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
The progress on reduction of re-purchase shares by means of centralized competitive bidding
□ Applicable √ Not applicable
III. Commitments made by the Company's actual controllers, shareholders, related
parties, purchasers and purchasing companies having not been fulfilled during the
reporting period
□ Applicable √ Not applicable
During this reporting period, there is no commitment made by the Company's actual controllers, shareholders, related
parties, purchasers and purchasing companies having not been fulfilled during the reporting period.
IV. Financial assets investment
1. Securities investment
□ Applicable √ Not applicable
No such case as securities investment during the reporting period.
2. Derivatives investment
√ Applicable □ Not applicable
Unit: ten thousand RMB
Proportion
of
Investment Actual
Amount of
Amount Amount Amount in Profit and
Name of Relation Whether It Initial Provision Investment
Types of Initial Purchased Sold during the Loss
Derivatives with Is A Amount of Starting Termination for Amount at
Derivatives Investment during the the Company’s during
Investment Related Related Derivatives Date Date Impairment the End of
Investment Amount Reporting Reporting Net Assets the
Operator Party Transaction Investment Accrued (if the Period
Period Period at End of Reporting
any)
the Period
Reporting
Period
No Structured January June 30,
Bank No 50,000 50,000 50,000 2.41% 350.68
relations deposits 26, 2021 2021
Foreign
No November March 31,
Bank No exchange 40,904.41 299,051.09 215,601.24 124,354.26 6.00% 1,202.53
relations 27, 2020 2022
contract
Total 50,000 -- -- 40,904.41 349,051.09 215,601.24 174,354.26 8.41% 1,553.21
Sources of funds for derivatives investment Equity Fund
Litigation involved (if applicable) N/A
Disclosure date of board of directors' April 3, 2020
11
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
announcement on the approval of derivatives
investment (if any)
Disclosure date of shareholder meeting's
announcement on the approval of derivatives May 13, 2020
investment (if any)
Risk analysis and description of control
measures for derivatives positions during the For details of risk analysis and control measures, please refer to the "Announcement on the Use of Own Funds to
reporting period (including but not limited to Purchase Bank Wealth Management Products" (Announcement No. 2020-025) and "Announcement on Carrying out
market risk, liquidity risk, credit risk, Foreign Exchange Hedging Transactions" (Announcement No. 2020-022), which were disclosed on April 3, 2020.
operational risk, legal risk, etc.)
Changes in market prices or product fair value
of invested derivatives during the reporting For the structured deposits signed between the company and bank during the reporting period, the profit and loss of fair
period, and the analysis of the fair value of value shall be determined according to the association between interest rate and the foreign exchange options. The
derivatives should disclose the specific difference between the forward foreign exchange settlement contract quotation and the forward foreign exchange price
methods used and the setting of related determined the transactional financial assets or transactional financial liabilities.
assumptions and parameters.
Explanation of whether the Company’s
derivatives accounting policies and specific
accounting principles have changed No
significantly during the reporting period
compared with the previous reporting period
Independent directors' special opinions on the
For details, please refer to the "Independent Opinions of Independent Directors on Related Matters" disclosed by the
Company's derivatives investment and risk
company on April 3, 2020.
control
V. Progress of investment projects with raised funds
□ Applicable √ Not applicable
VI. Estimated operating performance from January to June, 2021
Warning and explanation of the prediction that the cumulative net profit from the beginning of the year to the end of the
next reporting period may be a loss or a significant change compared the same period of last year
□ Applicable √ Not applicable
VII. Major contracts in daily operations
□ Applicable √ Not applicable
VIII. Entrusted Financing
√ Applicable □ Not applicable
Unit: ten thousand RMB
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2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Overdue Outstanding
Specific Type Funding Source Entrusted Amount Unexpired Balance
Amount
Bank financial
Equity Fund 50,000 50,000 0
products
Financial products of
Equity Fund 50,000 50,000 0
securities companies
Total 100,000 100,000 0
Specific matters on high-risk entrusted capital management with a large amount for a single item, or with low security,
poor liquidity and no capital preservation guarantee.
√ Applicable □ Not applicable
Unit: ten thousand RMB
Actual
Whether Item
Actual Recovery Amount of
Name of Reference there Will Overview
Trustee Profit and of Profits Provision Whether it
Trustee Payment for Expected be and
Organization Capital Starting Termination Investment Loss and for Passed the
Organization Product Type Amount Determination Annualized Earnings Entrusted Related
(or Trustee) Source Date Date Direction during the Losses Impairment Legal
(or Name of Method Rate of (If Any) Financial Query
Type Reporting during the Accrued (if Procedures
Trustee) Return Plan in Index (if
Period Reporting any)
the Future any)
Period
Private
equity fund
products,
fixed
income Payment of
Guosen Asset
Securities Equity February February 9, assets, principal and
Securities Management 50,000 -642.07 Unexpired Yes No
company Fund 10, 2021 2031 equity income at
co., Ltd. Plan
assets, maturity
public
equity
hybrid
funds
Total 50,000 -- -- -- -- -- -- -642.07 -- -- -- --
Cases of entrusted financing expected to be unable to recover the principal or cases that may result in impairment
□ Applicable √ Not applicable
IX. Illegal external guarantees
□ Applicable √ Not applicable
No illegal external guarantees during the reporting period.
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2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
X. Non-operational capital occupation over listed companies by controlling
shareholders and their related parties
□ Applicable √ Not applicable
During the reporting period, there is no non-operational capital occupation over listed companies by controlling
shareholders and their related parties.
XI. Registration form for reception of research, communication, interviews, and other
activities during the reporting period
√ Applicable □ Not applicable
Reception Main Content of the
Reception Reception Reception Index of the Basic
Target Reception Objects Discussion and the
Time Location Method Information of Research
Type Information Provided
Destination Partners Limited, Frankline Templeton,
Inforesight, (China Insight, Fund in CRM), LSQ SPAC
Fund, Panjing, Harbourview Investment Fund, Point72,
UBS, Essence Securities, Essence Fund, Power Pacific,
Bingshen Investment, Bosera Fund , Caitong Fund,
Caitong Asset Management, Ivy Capital, Chengshi Assets,
All Fund, Morgan Stanley Huaxin fund, Danyi Investment,
Springs Capital, Dehui Group, Northeast Securities,
Dongfang Self-operated, Soochow Securities, East
Securities Asset Management , Dunhe Asset
Management, Fengling Capital, Fuanda Fund, Fidelity,
There is no information
Fullgoal fund, Gaoyi, Green Fund, Golden Eagle Fund,
about the overall
Golden Eagle, Invesco Great Wall, Jiutai Fund, Juming
operating status of the
Combination of Investment, Junze Investment, Kendall Square Capital, For more information, please
Company company, development
January 29, field research and Legend Investment, Neuberger Berman Fund, Minsheng see the investor relations
meeting Institution in new technologies,
2021 telephone Royal Fund, China Southern Fund, Ningbo Bank Wealth activity list in
room Yunrui platform and five
communication Management, Ningquan Assets, ABC-CA, Lion Fund, Ping http://www.cninfo.com.cn
major research institutes
An Assets, Peifeng Assets, Penghua Fund, Ping An Asset
introduction has not
Management, Foresea Life Insurance, Headwater
been provided.
Investment, Ren Bridge Asset Management, Rongtong
Fund, Foresight Fund, Xiamen Pearl Investment,
Shanghai Chengtou Investment, Shanghai Daoren Assets,
CIFM Asset Management, SWS Mu fund, Tenbagger
Capital, Suzhou Junrong Asset Management Co., Ltd. ,
CPIC, BOC International (China) Co.,Ltd, Bank of China
Investment Management, China Post, China Re Assets,
Rosefinch Fund, Zige Investment, CITIC Securities, CITIC
Asset Management, CITIC Prudential, CITIC Construction
Investment, Gen Xi Assets, ICBC Credit Suisse, GF Fund,
GF Securities , GF Proprietary, Sinolink Securities,
14
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Guosheng Securities, China Life Security, China Life
Pension, China Life Assets, Guotai Fund, UBS SDIC,
Guosen Securities, Guoyuan Securities, Haitong
Securities, Hechuang Capital, HeXi Youfang Investing,
Hony Horizon Fund, Sequoia Capital, HC Capital, Huaan
Securities, Huaan Self-operated, Hua Chuang Securities,
Harfor Fund, Huashang Fund, Huatai Insurance, Huatai
Asset Management, Huaxia, China Everwin Asset, China
Future Capital Group, High Flyer Quant Fund, HSBC
Jintrust Fund, HuiJin Capital, China Universal Asset
Management, Harvest Fund, CCB, Jiangxin Fund, Bank of
Communications Schroders, Manulife TEDA Fund,
Taikang, Tianhong, Tongben Investment, Sunsource,
Wukong Investment, Western Leadbank FMC, Shiva
Investment, New China Fund , New China Assets, Cinda
Securities, CIB Fund, AEFON-Industrial Fund, Sun Fund,
discovering Investment, China Galaxy Securities, Yinhua
Fund, Argent Fund, Infore Capital, Yingke PE, Yongrui
Fortune, Maxwealth Fund, Yuhe Assets, GTS
Fund, .Longrising Fund, GORTUNE Investment, Ze Quan
Investment, Changjiang Pension, Changsheng Fund,
China Merchants Fund, Zheshang Fund, Zhong Geng
Fund, CICC, CICC Asset Management
Arohi Fund, Broad Peak Investment, Citi Bank, Cledit
Suisse, DTC Capital, MLP, Morgan Stanley, ABS Assets,
CQ Capital, Purekind Fund, Dacheng Fund Management,
Dahua Group, Springs Investment, Orient Securities,
Hillview Capital, Fidelity International Investment,
Hillhouse Capital, Everbright Securities, Guodu Securities,
Guohua Life Insurance, Guotai Fund, Citibank, Huaan
There is no information
Securities, Huarong Securities, Huijing Assets, Harvest
about the operations
Fund, Green wood Assets, JT Asset Management , Junhe
summary, future For more information, please
Company Institutions Capital, Lead Capital, Lin Fu Investment, Marco Polo
March 24, Telephone strategic investment, and see the investor relations
meeting and Asset Management, Macquarie Funds, Minsheng
2021 communication development strategies activity list in
room individuals Securities, DIB Asset Management, Morgan Stanley
of each business sector http://www.cninfo.com.cn
Funds, Nanjing Securities, Lion Funds, Ruike Asset
of the company Year in
Management Co., Ltd., Switzerland Credit, Shangao Asset
2020.
Management, Shanshi Fund, Shanghai Kandao Assets,
Shanghai Yiheng Investment, Shanghai Chasecloud Asset
Management Co., Ltd., CIFM Asset Management,
Deepstone Fund, Shenzhen Echo capital., Shenzhen
Xiangshu Assets , Taikang Asset Management Co., Ltd.,
Sunshine Capital, Southwest Securities, Starock
Investment, Easy Fund, Mutual Benefits, Great Wall
15
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Securities, Changjiang Securities, China Merchants Fund,
China Merchants Securities, CECport, China Life
Insurance, China Securities, CITIC Securities,
AVICA-COFCO Life Insurance, Zhongyu Investment,
JPMorgan Chase Securities, CPS Media, HSBC, Jpm,
Omdia, Omdia (IHS), Polar capital, UBS, Essence Fund,
Essence Securities, Essence Securities Asset
Management, Beijing Cheng Sheng Investment
Management Co., Ltd., Beijing Renbridge Asset
Management Co., Ltd., Beijing Changqing Foundation
Technology Management Co., Ltd., Shanghai Goldensum
Investment, Bingshen Investment, Cailian Press,
Chengyang Investment, Northeast Securities, Oriental
Fund, Oriental Securities Asset Management, Donghai
Securities, Soochow Fund, Soochow Securities, Founder
Securities, Fengpei Investment, Fudao Fund, Gangli
Investment, Gaoyi Assets, JPMorgan Chase, Granford
Assets, Everbright Securities Asset Management, GF
Securities, Guangzhou Hui Chuang Fu Xiang Investment,
Guohua Life Insurance, Gfund Management, Gfund
Wealth, Guolian Life Insurance, Guosheng Securities
Research Institute, Guosen Securities Economic
Research Institute, Guoyuan Securities, Hainan Quadrant
Fund, Haitong Securities, HEJV Capital, Hangzhou
Jiulong Asset Management Co., Ltd., Hangzhou
Rongzeshi Asset Management, Visione Asset, Hebei
Zebang New Energy Co., Ltd., Hechuang Investment ,
Hechuang Capital, Hony Horizon Fund, Huaan Fund, Hua
Chuang Securities, Harfor Fund, Beijing Huatai New
Industry Investment Fund, Huatai Securities
Self-operated, HSBC Jintrust Fund, Huijin Capital, China
Universal Fund, BoCommlife Insurance, Bank of
Communications Schroders, Capvision.
China Unicom 5G Fund of Funds, Lingze Capital, Mingya
Fund, ICBC Credit Suisse, Individual Investors
16
2021 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.
March 31, 2021
Unit: RMB
Item March 31, 2021 December 31, 2020
Current Assets:
Cash and Bank Balances 6,293,350,353.36 7,471,652,634.66
Deposit Reservation for
Balance
Loans to Banks and Other
Financial Institutions
Trading Financial Assets 506,878,374.09 2,475,680.45
Derivative Financial Assets
Notes Receivable 222,586,828.58 232,857,354.55
Accounts Receivable 12,220,193,199.28 12,857,519,110.16
Receivables Financing 1,035,476,913.51 1,207,879,654.58
Prepayments 161,714,153.60 162,250,648.05
Premium Receivable
Reinsurance Accounts
Receivable
Reinsurance Contract Reserves
Receivable
Other Receivables 885,793,311.37 970,427,893.48
Including: Interest Receivable
Dividends Receivable
Buying Back the Sale of
Financial Assets
Inventory 6,097,103,756.18 4,928,019,838.00
Contract Assets 102,260,297.93 84,825,834.82
Holding for-sale Assets
17
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Non-current Assets Due within
612,063,373.30 635,956,549.07
1 Year
Other Current Assets 661,270,153.24 558,434,219.93
Subtotal of Current Assets 28,798,690,714.44 29,112,299,417.75
Non-current Assets:
Granting of Loans and
Advances
Investment in Creditor's Rights
Investment in Other Creditor's
Rights
Long-term Receivables 2,122,293,873.57 2,250,315,769.50
Long-term Equity Investment 868,639,104.37 455,977,616.16
Investment in Other Equity
Instruments
Other Non-current Financial
866,261,508.85 360,087,786.34
Assets
Investment Property 332,088,083.04 336,008,869.13
Fixed Assets 1,959,919,814.17 1,515,594,629.97
Projects under Construction 978,543,887.77 1,164,130,453.03
Productive Biological Assets
Oil and gas assets
Right-of-use Assets 215,056,482.42
Intangible Assets 594,239,278.84 406,777,323.39
Development Expenditure
Goodwill 42,685,490.30 42,685,490.30
Long-term Deferred Expenses 35,454,858.63 32,280,430.67
Deferred Income Tax Assets 894,399,405.48 832,453,676.69
Other Non-current Assets 85,016,081.94 86,422,617.82
Subtotal of Non-current Assets 8,994,597,869.38 7,482,734,663.00
Total Assets 37,793,288,583.82 36,595,034,080.75
Current Liabilities:
Short-term Loan 1,231,454,666.13 250,177,083.34
Borrowings from the Central
Bank
Borrowings from Banks and
Other Financial Institutions
18
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Transactional Financial
1,042,761.84
Liabilities
Derivative Financial Liabilities
Notes Payable 3,447,526,796.12 3,258,552,758.17
Accounts Payable 5,999,522,945.00 6,444,787,705.28
Received Prepayments
Contract Liabilities 819,678,608.61 671,120,385.08
Financial Assets Sold for
Repurchase
Deposit Taking and Interbank
Deposit
Receiving from Vicariously
Traded Securities
Receiving from Vicariously Sold
Securities
Payroll payable 648,335,502.61 1,805,464,535.31
Tax Payable 684,617,819.81 900,144,863.67
Other Payables 968,467,036.17 970,552,877.22
Including: Interest Payable
Dividends Payable 12,982,399.27 12,982,399.27
Service Charge and
Commission Payable
Reinsurance Accounts Payable
Holding for-sale liabilities
Non-current Liabilities Due
229,097,062.00 151,891,709.34
within 1 Year
Other Current Liabilities 284,440,354.28 209,401,914.77
Subtotal of Current Liabilities 14,314,183,552.57 14,662,093,832.18
Non-current Liabilities:
Insurance Contract Reserves
Long-term Loan 1,378,000,000.00 878,000,000.00
Bonds Payable
Including: Preferred Stocks
Perpetual Bonds
Lease Liabilities 121,509,115.83
Long-term Payables
19
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Long-term Payroll Payable
Expected Liabilities 266,393,066.24 282,427,517.82
Deferred Income 108,914,414.33 110,469,806.29
Deferred Income Tax Liabilities 61,845,851.13 67,272,768.46
Other Non-current Liabilities 369,645,918.81 391,128,045.90
Subtotal of Non-current Liabilities 2,306,308,366.34 1,729,298,138.47
Total Liabilities 16,620,491,918.91 16,391,391,970.65
Shareholders' Equity:
Share Capital 2,995,579,590.00 2,995,579,590.00
Other Equity Instruments
Including: Preferred Stocks
Perpetual Bonds
Capital Reserves 2,587,135,107.94 1,989,655,334.05
Less: Treasury Share 581,968,930.89 581,968,930.89
Other Comprehensive Incomes 73,231,173.88 61,157,523.13
Special Reserves
Surplus Reserves 1,553,691,005.92 1,553,691,005.92
General Risk Reserves
Undistributed Profits 14,102,489,388.65 13,754,915,904.19
Total Shareholders' Equity
20,730,157,335.50 19,773,030,426.40
Attributable to the Parent Company
Minority Shareholders' Equity 442,639,329.41 430,611,683.70
Total Shareholders' Equity 21,172,796,664.91 20,203,642,110.10
Total Liabilities and Shareholders'
37,793,288,583.82 36,595,034,080.75
Equity
Legal representative: Fu Liquan Person in charge of accounting: Xu Qiaofen Person in charge of the accounting
institution: Zhu Zhuling
2. Balance Sheet of the Parent Company
Unit: RMB
Item March 31, 2021 December 31, 2020
Current Assets:
Cash and Bank Balances 2,136,079,368.49 3,130,479,311.55
Trading Financial Assets 503,506,849.32
20
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Derivative Financial Assets
Notes Receivable 76,325,143.14 74,284,006.99
Accounts Receivable 3,334,285,692.28 2,740,152,239.35
Receivables Financing 378,414,500.46 169,109,529.24
Prepayments 37,529,957.82 48,203,550.97
Other Receivables 13,084,595,903.61 13,796,603,550.30
Including: Interest Receivable
Dividends Receivable
Inventory 185,154,390.15 171,756,222.72
Contract Assets 8,316,811.52 8,338,657.15
Holding for-sale Assets
Non-current Assets Due within
60,059,864.07 61,828,724.54
1 Year
Other Current Assets 13,936,871.25 12,592.38
Subtotal of Current Assets 19,818,205,352.11 20,200,768,385.19
Non-current Assets:
Investment in Creditor's Rights
Investment in Other Creditor's
Rights
Long-term Receivables 99,393,268.82 100,221,713.49
Long-term Equity Investment 4,121,147,862.35 3,660,410,557.29
Investment in Other Equity
Instruments
Other Non-current Financial
849,976,508.85 355,853,684.59
Assets
Investment Property 171,060,808.18 173,003,549.71
Fixed Assets 570,329,253.75 550,991,444.04
Projects under Construction 499,398,442.52 438,014,907.22
Productive Biological Assets
Oil and gas assets
Right-of-use Assets 101,252,294.54
Intangible Assets 152,990,574.20 156,335,152.97
Development Expenditure
Goodwill
Long-term Deferred Expenses 19,225,823.44 21,149,342.55
21
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Deferred Income Tax Assets 173,899,292.77 135,371,242.86
Other Non-current Assets 8,417,003.55 35,774,247.16
Subtotal of Non-current Assets 6,767,091,132.97 5,627,125,841.88
Total Assets 26,585,296,485.08 25,827,894,227.07
Current Liabilities:
Short-term Loan 529,121,332.80 250,177,083.34
Transactional financial
Liabilities
Derivative Financial Liabilities
Notes Payable 272,010,077.43 303,660,579.62
Accounts Payable 405,284,890.67 752,373,890.95
Received Prepayments
Contract Liabilities 78,560,588.43 85,275,423.36
Payroll Payable 409,905,572.96 1,127,500,408.14
Tax Payable 519,482,084.63 627,351,201.46
Other Payables 1,022,238,933.41 1,002,654,121.27
Including: Interest Payable
Dividends Payable 12,982,399.27 12,982,399.27
Holding for-sale Liabilities
Non-current Liabilities Due
186,467,610.58 150,643,750.02
within 1 Year
Other Current Liabilities 42,231,074.31 26,870,130.42
Subtotal of Current Liabilities 3,465,302,165.22 4,326,506,588.58
Non-current Liabilities:
Long-term Loan 1,250,000,000.00 750,000,000.00
Bonds Payable
Including: Preferred Stocks
Perpetual Bonds
Lease Liabilities 54,377,957.51
Long-term Payables
Long-term Payroll Payable
Expected Liabilities 8,058,379.20 8,333,634.18
Deferred Income
Deferred Income Tax Liabilities 29,315,669.37 29,407,289.24
Other Non-current Liabilities 10,272,904.15 10,599,934.34
22
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Subtotal of Non-current Liabilities 1,352,024,910.23 798,340,857.76
Total Liabilities 4,817,327,075.45 5,124,847,446.34
Shareholders' Equity:
Share Capital 2,995,579,590.00 2,995,579,590.00
Other Equity Instruments
Including: Preferred Stocks
Perpetual Bonds
Capital Reserves 2,563,802,932.55 1,976,156,775.91
Less: Treasury Share 581,968,930.89 581,968,930.89
Other Comprehensive Incomes 544,380.66 522,554.00
Special Reserves
Surplus Reserves 1,553,691,005.92 1,553,691,005.92
Undistributed Profits 15,236,320,431.39 14,759,065,785.79
Total Shareholders' Equity 21,767,969,409.63 20,703,046,780.73
Total Liabilities and Shareholders'
26,585,296,485.08 25,827,894,227.07
Equity
3. Consolidated Income Statement
Unit: RMB
Item This Period's Amount of Occurrence Previous Period's Amount of Occurrence
I. Total Operating Revenue 5,114,399,101.72 3,501,562,275.80
Including: Operating Revenue 5,114,399,101.72 3,501,562,275.80
Interest Income
Earned Premiums
Service Charge and
Commission Income
II. Total Operating Cost 4,770,751,992.98 3,369,359,569.59
Including: Operating Cost 3,022,354,395.09 1,777,655,306.56
Interest Expenditures
Service Charge and
Commission Expenses
Surrender Value
Net Claims Paid
Net Amount of Withdrawn
Reserve for Insurance Liability
23
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Contract
Policyholder Dividend
Expense
Reinsurance Cost
Taxes and Surcharges 45,259,450.42 18,696,287.45
Sales Expenses 884,332,162.54 794,773,576.60
Administration Expenses 186,886,265.44 150,490,749.11
Research and
605,759,333.31 582,896,157.53
Development Expense
Financial Expenses 26,160,386.18 44,847,492.34
Including: Interest
16,480,279.65 21,544,585.52
Expenses
Interest Income 57,860,554.10 45,305,751.27
Add: Other Income 159,998,097.67 231,668,573.00
Investment Income (Mark "-"
-74,602,834.57 -15,622,723.50
for Loss)
Including: Investment
Income from Affiliates and Joint -89,233,951.37 -16,724,727.64
Ventures
Profits from Recognition
Termination of Financial Assets at
Amortized Cost
Exchange Gains (Mark "-"
for Losses)
Profit of Net Exposure
Hedging (Mark "-" for Loss)
Incomes from Changes in
9,990,151.49
Fair Value (losses marked with "-")
Credit Impairment Losses
-19,450,426.80 -6,803,561.85
(Mark "-" for Loss)
Asset Impairment Losses
-4,764,740.17 -1,523,740.78
(Mark "-" for Loss)
Asset Disposal Income
846,368.96
(Mark "-" for Loss)
III. Operating Profit (Mark "-" for Loss) 415,663,725.32 339,921,253.08
Add: Non-operating Revenues 3,038,549.12 1,936,274.21
Less: Non-operating Expenses 1,862,924.19 6,623,544.62
24
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
IV. Total Profit (Mark "-" for Total Loss) 416,839,350.25 335,233,982.67
Less: Income Tax Expense 57,238,292.05 26,101,996.30
V. Net Profit (Mark "-" for Net Loss) 359,601,058.20 309,131,986.37
(I) Classified by Operation
Continuity
1. Net Profit as a Going Concern
359,601,058.20 309,131,986.37
(Mark "-" for Net Loss)
2. Net Profit of Discontinued
Operation (Mark "-" for Net Loss)
(II) Classified by the Attribution of
Ownership
1. Net Profit Attributable to
347,573,484.46 317,916,471.89
Shareholders of Parent Company
2. Minority Shareholders' Profit
12,027,573.74 -8,784,485.52
and Loss
VI. Net Amount of Other
12,073,722.72 9,999,857.49
Comprehensive Incomes after Tax
Net Amount of Other
Comprehensive Incomes after Tax
12,073,650.75 9,999,864.59
Attributable to the Parent Company's
Owner
(I) Other Comprehensive Income
that cannot be Reclassified as P/L
1. Re-measure the
Variation of the Defined Benefit Plan
2. Other Comprehensive
Income that cannot be Transferred to
P/L under the Equity Method
3. Changes in the Fair
Value of Investment in Other Equity
Instruments
4. Changes in the Fair
Value of the Credit Risk of the
Enterprise
5. Others
(II) Other Comprehensive Income
12,073,650.75 9,999,864.59
that will be Reclassified as P/L
1. Other Comprehensive
Income that can be Transferred to P/L
25
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
under the Equity Method
2. Changes in the Fair
Value of Investment in other Creditor's
Rights
3. Financial Assets
Reclassified into other
Comprehensive Income
4. Provisions for the Credit
Impairment of Investment in other
Creditor's Rights
5. Cash Flow Hedge
Reserves
6. Currency Translation
12,538,226.45 9,999,864.59
Difference
7. Others -464,575.70
Net Amount of Other
Comprehensive Incomes after Tax 71.97 -7.10
Attributable to Minority Shareholders
VII. Total Comprehensive Income 371,674,780.92 319,131,843.86
Total Comprehensive Income
Attributable to the Parent Company's 359,647,135.21 327,916,336.48
Owner
Total Comprehensive Income
12,027,645.71 -8,784,492.62
Attributable to Minority Shareholders
VIII. Earnings per Share:
(I) Basic Earnings per Share 0.12 0.11
(II) Diluted Earnings per Share 0.12 0.11
Legal representative: Fu Liquan Person in charge of accounting: Xu Qiaofen Person in charge of the accounting
institution: Zhu Zhuling
4. Income Statement of the Parent Company
Unit: RMB
Item This Period's Amount of Occurrence Previous Period's Amount of Occurrence
I. Operating Revenue 1,563,961,550.22 1,534,303,148.70
Less: Operating Cost 243,645,162.63 223,891,713.58
Taxes and Surcharges 19,757,987.18 10,768,457.54
Sales Expenses 279,505,529.10 250,468,420.26
26
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Administration Expenses 91,753,307.57 75,613,815.40
Research and
454,461,822.19 496,224,547.93
Development Expense
Financial Expenses -12,966,763.14 -4,875,931.36
Including: Interest
13,058,070.76 14,345,671.26
Expenses
Interest Income 27,404,419.95 19,875,466.93
Add: Other income 126,639,304.33 204,171,397.15
Investment Income (Mark
-94,254,915.67 -10,851,788.21
"-" for Loss)
Including: Investment
Income from Affiliates and Joint -96,713,821.28 -11,978,886.10
Ventures
Profits from
Derecognition of Financial Assets at
Amortized Cost (Mark "-" for Loss)
Profit of Net Exposure
Hedging (Mark "-" for Loss)
Incomes from changes in
-1,913,829.24
fair value (losses marked with "-")
Credit Impairment Losses
4,028,611.39 6,922,219.15
(Mark "-" for Loss)
Asset Impairment Losses
-123,203.33
(Mark "-" for Loss)
Asset Disposal Income
623,180.23
(Mark "-" for Loss)
II. Operating Profit (Mark "-" for
522,803,652.40 682,453,953.44
Loss)
Add: Non-operating Revenues 2,458,012.55 1,387,746.17
Less: Non-operating Expenses 161,235.05 5,434,839.68
III. Total Profit (Mark "-" for Total
525,100,429.90 678,406,859.93
Loss)
Less: Income Tax Expense 47,845,784.30 51,135,509.16
IV. Net Profit (Mark "-" for Net Loss) 477,254,645.60 627,271,350.77
(I) Net Profit as a Going
477,254,645.60 627,271,350.77
Concern (Mark "-" for Net Loss)
(II) Net Profit of Discontinued
Operation (Mark "-" for Net Loss)
27
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
V. Net Amount of Other
21,826.66
Comprehensive Incomes After Tax
(1) Other Cmprehensive
Income that cannot be Reclassified
as P/L
1. Re-measure the
Variation of the Defined Benefit Plan
2. Other Comprehensive
Income that cannot be Transferred
to P/L under the Equity Method
3. Changes in the Fair
Value of Investment in other Equity
Instruments
4. Changes in the Fair
Value of the Credit Risk of the
Enterprise
5. Others
(II) Other Comprehensive
Income that will be Reclassified as 21,826.66
P/L
1. Other Comprehensive
Income that can be Transferred to
P/L under the Equity Method
2. Changes in the Fair
Value of Investment in Other
Creditor's Rights
3. Financial Assets
Reclassified into Other
Comprehensive Income
4. Provisions for the
Credit Impairment of Investment in
Other Creditor's Rights
5. Cash Flow Hedge
Reserves
6. Currency Translation
Difference
7. Others 21,826.66
VI. Total Comprehensive Income 477,276,472.26 627,271,350.77
VII. Earnings per Share:
28
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
(I) Basic Earnings per Share 0.16 0.22
(II) Diluted Earnings per Share 0.16 0.22
5. Consolidated Cash Flow Statement
Unit: RMB
Item This Period's Amount of Occurrence Previous Period's Amount of Occurrence
I. Cash Flow Generated by
Operational Activities:
Cash from Sales of
Merchandise and Provision of 6,696,184,907.84 6,120,271,238.59
Services
Net Increase in Customer's
Bank Deposits and Interbank
Deposits
Net Increase in Borrowings
from the Central Bank
Net Increase in Borrowings
from Other Financial Institutions
Cash Arising from Receiving
Premiums for the Original Insurance
Contract
Net Amount Arising from
Reinsurance Business
Net Increase in Deposits and
Investments from Policyholders
Cash Arising from Interests,
Service Charges and Commissions
Net Increase in Borrowings
from Banks and Other Financial
Institutions
Net Increase in Repurchase
Business Funds
Net Amount of Cash Received
from the Vicariously Traded
Securities
Tax Refund 538,055,790.42 740,215,721.64
Other Received Cashes
54,578,627.89 44,949,326.78
Related to Operational Activities
29
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Subtotal of Cash Inflow from
7,288,819,326.15 6,905,436,287.01
Operational Activities
Cash Paid for Merchandise and
5,193,565,946.56 5,017,346,044.66
Services
Net Increase in Loans and
Advances to Customers
Net Increase in Deposits with
Central Bank and Other Financial
Institutions
Cash Paid for Original
Insurance Contract Claims
Net Increase of Funds Lent
Cash Paid for Interests, Service
Charges and Commissions
Cash Paid for Policy Dividends
Cash Paid to and for
2,392,888,197.29 1,981,075,262.40
Employees
Cash Paid for Taxes and
562,650,190.08 636,310,647.26
Surcharges
Other Paid Cashes Related to
467,285,248.62 461,221,931.66
Operational Activities
Subtotal of Cash Outflow from
8,616,389,582.55 8,095,953,885.98
Operational Activities
Net Cash Flow Generated by
-1,327,570,256.40 -1,190,517,598.97
Operating Activities
II. Cash Flow from Investment
Activities:
Cash Arising from Disposal of
290,456,497.18 199,900,000.00
Investments
Cash Arising from Investment
11,560,064.44 640,733.53
Incomes
Net Cash Arising from Disposal
of Fixed Assets, Intangible Assets 565,031.37 219,552.16
and Other Long-term Assets
Net Cash Arising from Disposal
of Subsidiaries and Other Business
Units
Other Received Cashes
18,821,667.60 1,619,946.28
Related to Investment Activities
30
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Subtotal of Cash Inflow from
321,403,260.59 202,380,231.97
Investment Activities
Cash Paid for Purchase and
Construction of Fixed Assets,
297,175,969.38 127,443,261.33
Intangible Assets and Other
Long-term Assets
Cash Paid for Investments 1,296,000,000.00 308,047,000.00
Net Increase in Pledge Loans
Net Cash Paid for Acquisition of
Subsidiaries and Other Business
Units
Other Paid Cashes Related to
4,604,399.75 70,109,093.75
Investment Activities
Subtotal of Cash Outflows from
1,597,780,369.13 505,599,355.08
Investment Activities
Net amount of Cash Flow Generated
-1,276,377,108.54 -303,219,123.11
by Investment Activities
III. Cash Flow from Financing
Activities:
Cash Arising from Absorbing
2,600,000.00
Investments
Including: Cash Arising from
Subsidiaries Absorbing Investments 2,600,000.00
by Minority Shareholders
Cash Arising from Borrowings 1,729,079,926.55 2,503,241,328.07
Other Received Cashes
0.00 241,066,000.00
Related to Financing Activities
Subtotal of Cash Inflow from
1,729,079,926.55 2,746,907,328.07
Financing Activities
Cash Paid for Debts
250,000,000.00 1,134,342,813.55
Repayment
Cash Paid for Distribution of
Dividends and Profits or Payment of 12,204,555.53 13,192,254.16
Interests
Including: Dividends and Profits
Paid to Minority Shareholders by
Subsidiaries
Other Paid Cashes Related to
27,392,770.30 241,066,000.00
Financing Activities
31
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Subtotal of Cash Outflow from
289,597,325.83 1,388,601,067.71
Financing Activities
Net Cash Flow Generated by
1,439,482,600.72 1,358,306,260.36
Financing Activities
IV. Impact of Fluctuation in
Exchange Rate on Cash and Cash -22,308,563.47 -21,109,999.08
Equivalents
V. Net Increase in Cash and Cash
-1,186,773,327.69 -156,540,460.80
Equivalents
Add: Cash and Cash
Equivalents at the Commencement 7,358,452,769.53 2,734,185,976.41
of the Period
VI. Cash and Cash Equivalents at
6,171,679,441.84 2,577,645,515.61
the 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 Generated by
Operational Activities:
Cash from Sales of
Merchandise and Provision of 925,149,718.54 3,415,807,937.69
Services
Tax Refund 117,475,226.11 241,436,506.43
Other Received Cashes
33,095,838.82 16,282,249.26
Related to Operational Activities
Subtotal of Cash Inflow from
1,075,720,783.47 3,673,526,693.38
Operational Activities
Cash Paid for Merchandise and
502,090,945.49 43,425,201.12
Services
Cash Paid to and for
1,387,469,606.70 1,276,096,836.81
Employees
Cash Paid for Taxes and
328,920,020.28 398,845,113.34
Surcharges
Other Paid Cashes Related to
240,878,106.41 256,763,641.58
Operational Activities
Subtotal of Cash Outflow from
2,459,358,678.88 1,975,130,792.85
Operational Activities
32
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Net Cash Flow Generated by
-1,383,637,895.41 1,698,395,900.53
Operating Activities
II. Cash Flow from Investment
Activities:
Cash Arising from Disposal of
290,456,497.18 199,900,000.00
Investments
Cash Arising from Investment
2,458,905.61 640,733.53
Incomes
Net Cash Arising from Disposal
of Fixed Assets, Intangible Assets 7,129,335.51 7,434,630.94
and Other Long-term Assets
Net Cash Arising from Disposal
of Subsidiaries and Other Business
Units
Other Received Cashes
2,045,056.66 1,601,946.28
Related to Investment Activities
Subtotal of cash inflow from
302,089,794.96 209,577,310.75
investment activities
Cash Paid for Purchase and
Construction of Fixed Assets,
88,557,828.17 75,087,633.55
Intangible Assets and Other
Long-term Assets
Cash Paid for Investments 1,331,940,000.00 325,407,000.00
Net Cash Paid for Acquisition of
Subsidiaries and Other Business
Units
Other Paid Cashes Related to
Investment Activities
Subtotal of Cash Outflows from
1,420,497,828.17 400,494,633.55
Investment Activities
Net amount of Cash Flow Generated
-1,118,408,033.21 -190,917,322.80
by Investment Activities
III. Cash Flow from Financing
Activities:
Cash Arising from Absorbing
Investments
Cash Arising from Borrowings 1,029,079,926.55 1,739,800,000.00
Other Received Cashes
1,113,601,928.85 811,534,932.34
Related to Financing Activities
33
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Subtotal of Cash Inflow from
2,142,681,855.40 2,551,334,932.34
Financing Activities
Cash Paid for Debts
250,000,000.00 599,800,000.00
Repayment
Cash Paid for Distribution of
Dividends and Profits or Payment of 10,665,273.61 8,418,694.92
Interests
Other Paid Cashes Related to
380,050,687.97 3,537,474,262.85
Financing Activities
Subtotal of Cash Outflow from
640,715,961.58 4,145,692,957.77
Financing Activities
Net Cash Flow Generated by
1,501,965,893.82 -1,594,358,025.43
Financing Activities
IV. Impact of Fluctuation in
Exchange Rate on Cash and Cash 6,203.88 1,932.87
Equivalents
V. Net Increase in Cash and Cash
-1,000,073,830.92 -86,877,514.83
Equivalents
Add: Cash and Cash
Equivalents at the Commencement 3,090,496,504.00 860,741,299.14
of the Period
VI. Cash and Cash Equivalents at
2,090,422,673.08 773,863,784.31
the End of the Period
II. Adjustments to the Financial Statements
1. Details of adjustment for financial statements at the beginning of year due to first
implementation of the new lease standards from 2021.
√ Applicable □ Not applicable
Whether the accounts of the balance sheet at the beginning of the year shall be adjusted
√ Yes □ No
Consolidated Balance Sheet
Unit: RMB
Item December 31, 2020 January 1, 2021 Adjusted amount
Current Assets:
Cash and Bank
7,471,652,634.66 7,471,652,634.66
Balances
Trading Financial
2,475,680.45 2,475,680.45
Assets
34
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Notes Receivable 232,857,354.55 232,857,354.55
Accounts Receivable 12,857,519,110.16 12,857,519,110.16
Receivables
1,207,879,654.58 1,207,879,654.58
Financing
Prepayments 162,250,648.05 152,994,874.90 -9,255,773.15
Other Receivables 970,427,893.48 968,975,721.11 -1,452,172.37
Inventory 4,928,019,838.00 4,928,019,838.00
Contract Assets 84,825,834.82 84,825,834.82
Non-current Assets
635,956,549.07 635,956,549.07
Due within 1 Year
Other Current Assets 558,434,219.93 558,536,267.47 102,047.54
Subtotal of Current Assets 29,112,299,417.75 29,101,693,519.77 -10,605,897.98
Non-current Assets:
Long-term
2,250,315,769.50 2,250,315,769.50
Receivables
Long-term Equity
455,977,616.16 455,977,616.16
Investment
Other Non-current
360,087,786.34 360,087,786.34
Financial Assets
Investment Property 336,008,869.13 336,008,869.13
Fixed Assets 1,515,594,629.97 1,515,594,629.97
Projects under
1,164,130,453.03 1,164,130,453.03
Construction
Right-of-use Assets 155,673,708.67 155,673,708.67
Intangible Assets 406,777,323.39 406,777,323.39
Goodwill 42,685,490.30 42,685,490.30
Long-term Deferred
32,280,430.67 32,280,430.67
Expenses
Deferred Income Tax
832,453,676.69 832,453,676.69
Assets
Other Non-current
86,422,617.82 86,422,617.82
Assets
Subtotal of Non-current
7,482,734,663.00 7,638,408,371.67 155,673,708.67
Assets
Total Assets 36,595,034,080.75 36,740,101,891.44 145,067,810.69
Current Liabilities:
35
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Short-term Loan 250,177,083.34 250,177,083.34
Notes Payable 3,258,552,758.17 3,258,552,758.17
Accounts Payable 6,444,787,705.28 6,444,787,705.28
Contract Liabilities 671,120,385.08 671,120,385.08
Payroll Payable 1,805,464,535.31 1,805,464,535.31
Tax Payable 900,144,863.67 900,144,863.67
Other Payables 970,552,877.22 970,552,877.22
Dividends
12,982,399.27 12,982,399.27
Payable
Non-current Liabilities
151,891,709.34 210,863,157.61 58,971,448.27
Due within 1 Year
Other Current
209,401,914.77 209,401,914.77
Liabilities
Subtotal of Current
14,662,093,832.18 14,721,065,280.45 58,971,448.27
Liabilities
Non-current Liabilities:
Long-term Loan 878,000,000.00 878,000,000.00
Lease Liabilities 86,096,362.42 86,096,362.42
Expected Liabilities 282,427,517.82 282,427,517.82
Deferred Income 110,469,806.29 110,469,806.29
Deferred Income Tax
67,272,768.46 67,272,768.46
Liabilities
Other Non-current
391,128,045.90 391,128,045.90
Liabilities
Subtotal of Non-current
1,729,298,138.47 1,815,394,500.89 86,096,362.42
Liabilities
Total Liabilities 16,391,391,970.65 16,536,459,781.34 145,067,810.69
Shareholders' Equity:
Share Capital 2,995,579,590.00 2,995,579,590.00
Capital Reserves 1,989,655,334.05 1,989,655,334.05
Less: Treasury Share 581,968,930.89 581,968,930.89
Other Comprehensive
61,157,523.13 61,157,523.13
Incomes
Surplus Reserves 1,553,691,005.92 1,553,691,005.92
Undistributed Profits 13,754,915,904.19 13,754,915,904.19
Total Shareholders' Equity 19,773,030,426.40 19,773,030,426.40
36
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Attributable to the Parent
Company
Minority Shareholders'
430,611,683.70 430,611,683.70
Equity
Total Shareholders' Equity 20,203,642,110.10 20,203,642,110.10
Total Liabilities and
36,595,034,080.75 36,740,101,891.44 145,067,810.69
Shareholders' Equity
Balance Sheet of the Parent Company
Unit: RMB
Item December 31, 2020 January 1, 2021 Adjusted amount
Current Assets:
Cash and Bank
3,130,479,311.55 3,130,479,311.55
Balances
Notes Receivable 74,284,006.99 74,284,006.99
Accounts Receivable 2,740,152,239.35 2,740,152,239.35
Receivables
169,109,529.24 169,109,529.24
Financing
Prepayments 48,203,550.97 40,722,857.29 -7,480,693.68
Other Receivables 13,796,603,550.30 13,796,461,689.02 -141,861.28
Inventory 171,756,222.72 171,756,222.72
Contract Assets 8,338,657.15 8,338,657.15
Non-current Assets
61,828,724.54 61,828,724.54
Due within 1 Year
Other Current Assets 12,592.38 12,592.38
Subtotal of Current Assets 20,200,768,385.19 20,193,145,830.23 -7,622,554.96
Non-current Assets:
Long-term
100,221,713.49 100,221,713.49
Receivables
Long-term Equity
3,660,410,557.29 3,660,410,557.29
Investment
Other Non-current
355,853,684.59 355,853,684.59
Financial Assets
Investment Property 173,003,549.71 173,003,549.71
Fixed Assets 550,991,444.04 550,991,444.04
Projects under
438,014,907.22 438,014,907.22
Construction
Right-of-use Assets 82,586,983.09 82,586,983.09
37
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Intangible Assets 156,335,152.97 156,335,152.97
Long-term Deferred
21,149,342.55 21,149,342.55
Expenses
Deferred Income Tax
135,371,242.86 135,371,242.86
Assets
Other Non-current
35,774,247.16 35,774,247.16
Assets
Subtotal of Non-current
5,627,125,841.88 5,709,712,824.97 82,586,983.09
Assets
Total Assets 25,827,894,227.07 25,902,858,655.20 74,964,428.13
Current Liabilities:
Short-term Loan 250,177,083.34 250,177,083.34
Notes Payable 303,660,579.62 303,660,579.62
Accounts Payable 752,373,890.95 752,373,890.95
Contract Liabilities 85,275,423.36 85,275,423.36
Payroll payable 1,127,500,408.14 1,127,500,408.14
Tax Payable 627,351,201.46 627,351,201.46
Other Payables 1,002,654,121.27 1,002,654,121.27
Dividends
12,982,399.27 12,982,399.27
Payable
Non-current Liabilities
150,643,750.02 180,101,689.01 29,457,938.99
Due within 1 Year
Other Current
26,870,130.42 26,870,130.42
Liabilities
Subtotal of Current
4,326,506,588.58 4,355,964,527.57 29,457,938.99
Liabilities
Non-current Liabilities:
Long-term Loan 750,000,000.00 750,000,000.00
Lease Liabilities 45,506,489.14 45,506,489.14
Expected Liabilities 8,333,634.18 8,333,634.18
Deferred Income Tax
29,407,289.24 29,407,289.24
Liabilities
Other Non-current
10,599,934.34 10,599,934.34
Liabilities
Subtotal of Non-current
798,340,857.76 843,847,346.90 45,506,489.14
Liabilities
Total Liabilities 5,124,847,446.34 5,199,811,874.47 74,964,428.13
38
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
Shareholders' Equity:
Share Capital 2,995,579,590.00 2,995,579,590.00
Capital Reserves 1,976,156,775.91 1,976,156,775.91
Less: Treasury Share 581,968,930.89 581,968,930.89
Other Comprehensive
522,554.00 522,554.00
Incomes
Surplus Reserves 1,553,691,005.92 1,553,691,005.92
Undistributed Profits 14,759,065,785.79 14,759,065,785.79
Total Shareholders' Equity 20,703,046,780.73 20,703,046,780.73
Total Liabilities and
25,827,894,227.07 25,902,858,655.20 74,964,428.13
Shareholders' Equity
2. Explanation of data comparison before and after the adjustment due to first implementation of
the new lease accounting standard from 2021
□ Applicable √ Not applicable
III. Audit Report
Has the Q1report been audited
□ Yes √ No
The report for the Q1 has not been audited.
39
