Joyoung Co., Ltd. Third Quarterly Report
Ticker: 002242 Stock Ab breviation: Joyoung
Joyoung Co., Ltd.
Interim Report of the Third Quarter 2023
The Company and all members of the Board of Directors have guaranteed that the information disclosed is true, accurate
and complete, and contains no false record, misleading statements or material omissions.
Important notes:
Board of Directors, the Supervisory Committee as well as all the directors, supervisors and senior
management staff of Joyoung Co., Ltd. (hereinafter referred to as the “Company”) have guaranteed that this
Report contains no false record, misleading statement or material omission and shall be jointly and severally
liable for the factuality, accuracy and completeness of the information given in this Report.
CEO of the Company, CFO of the Company, and Chief Accountant of Accounting Institution, declared that
the quarterly financial statements should be true, accurate and complete.
In case of any discrepancy, the Chinese version of the report shall prevail.
Whether the third quarterly report was audited
□ Yes √ No
1
Joyoung Co., Ltd. Third Quarterly Report
I. Key Accounting Data and Financial Indicators
1. Key Accounting Data and Financial Indicators
Whether the Company performed a retroactive adjustment to or restatement of accounting data
√Yes □ No
Reasons of Retroactive adjustment or restatement:
Changes in accounting policies
From 1 July 2022 to 30 September From 1 From 1 January 2022 to 30
From 1 July YoY Change YoY Change
2022 January 2023 September 2022
2023 to 30
to 30
September Before After After Before After After
September
2023 Adjustment Adjustment Adjustment Adjustment Adjustment Adjustment
2023
Operating revenues
2,463,572,007.10 2,214,588,864.01 2,214,588,864.01 11.24% 6,781,172,561.74 6,925,037,008.62 6,925,037,008.62 -2.08%
(RMB Yuan)
Net profits attributable
to shareholders of the 116,354,565.00 158,189,969.70 158,140,929.49 -26.42% 363,513,922.70 504,596,360.46 504,591,109.63 -27.96%
Company (RMB Yuan)
Net profits attributable
to shareholders of the
Company before non- 112,352,748.80 159,359,269.72 159,310,229.51 -29.48% 338,498,908.81 458,387,462.82 458,382,211.99 -26.15%
recurring gains and
losses (RMB Yuan)
Net cash flow from
operating activities — — — — 427,086,101.85 909,813,991.63 909,813,991.63 -53.06%
(RMB Yuan)
Basic earnings per
share (RMB Yuan 0.16 0.21 0.21 -23.81% 0.49 0.66 0.66 -25.76%
/share)
Diluted earnings per
share (RMB Yuan 0.16 0.21 0.21 -23.81% 0.49 0.66 0.66 -25.76%
/share)
Weighted average Decreased by Decreased by
3.41% 4.18% 4.18% 10.75% 12.65% 12.65%
return on net assets 0.77 percent point 1.90 percent point
31 December 2022 Flux
30 September 2023
Before Adjustment After Adjustment After Adjustment
Total assets (RMB) 7,144,806,864.66 7,074,762,950.69 7,075,278,734.87 0.98%
Net assets attributable
to shareholders of the 3,467,063,655.79 3,313,074,235.88 3,313,590,020.06 4.63%
Company (RMB)
Reasons for changes in accounting policies and correction of accounting errors
Note: The Ministry of Finance issued Accounting Standards Interpretation No. 16 on November 30, 2022, which amends the scope of the
exemption from initial recognition of deferred income taxes in Accounting Standards Codification No. 18: Income Taxes (ASC: No. 18). It clarifies the
situations that are not applicable to ASC: No. 18 that exempted from initial recognition of deferred tax liabilities and deferred tax assets: Individual
transactions that are not business merger and that, at the time of the transaction, affect neither accounting profit nor taxable income (or deductible
losses) and for which the assets and liabilities are initially recognized, result in taxable temporary differences and deductible temporary differences
2
Joyoung Co., Ltd. Third Quarterly Report
of equal amounts. The Company implemented this provision effective January 1, 2023 and applied the retrospective adjustment method of accounting
for individual transactions that occurred between the beginning of the earliest period for which the financial statements are presented and December
31, 2022, and restated the comparative period financial statements.
2. Non-recurring gain and loss items and amounts thereof
Unit: RMB
From 1 July 2023 to From 1 January 2023
Item Note
30 September 2023 to 30 September 2023
1,114,632.37 15,775,466.95 Mainly due to gains and
Profit or loss from disposal of non-current assets (including the
losses on disposal of
write off of the provision for impairment of assets)
assets
Government grants included in the current profit or loss (that is Mainly due to
closely related to the operations of the Company, except for those government grants
4,109,859.88 21,375,614.32
of fixed quotas or amounts according to the nationally unified
standards)
Gains or losses from changes in fair value arising from the -2,792,536.64
holding of trading financial assets, derivative financial assets,
trading financial liabilities and derivative financial liabilities and
investment income from the disposal of trading financial assets,
derivative financial assets, trading financial liabilities, deriv ative
financial liabilities and other debt investments, excluding the
effective hedging business related to the Company’s normal
business operations
Other non-operating income or expenses except the above items -33,165.90 -2,714,609.11
Less: Impact of income taxes 1,191,166.45 6,530,747.76
Impact of minority interests (after tax) -1,656.30 98,173.87
Total 4,001,816.20 25,015,013.89 --
Other details of other profit and loss items that meet the definition of non-recurring profit or loss
□ Applicable √ Not applicable
The Company does not have other details of gain or loss items that meet the definition of non-recurring gain or loss.
For non-recurring profit or loss items listed in the Interpretative Announcement on Information Disclosure of Companies Offering
Securities to the Public No. 1 — Non-recurring Profit or Loss that have been defined as recurring profit or loss items by the Company,
please provide the reasons
□ Applicable √ Not applicable
Not Applicable to the Company.
3. Changes in key accounting data and financial indicators and reasons for such changes
Unit: RMB
Item 30 September 2023 31 December 2022 Flux Notes
Mainly as a result of increased sales and longer
Accounts receivable 980,653,962.67 687,360,521.01 42.67% receivable periods with related parties such as JS
Global and SNHK
Mainly due to the decrease in the receipt of notes
Receivables financing 195,462,097.39 427,367,850.03 -54.26% during the period
Mainly due to the increase in prepayments for pre-
Prepaid expense 39,013,292.29 15,317,578.78 154.70%
order raw materials
3
Joyoung Co., Ltd. Third Quarterly Report
Mainly due to the increase in value-added tax
Other current assets 191,436,763.01 135,347,853.88 41.44%
deductible during the period
Mainly due to amortization of right-of-use assets
Right-of-use assets 41,773,984.06 63,214,031.04 -33.92%
during the period
Mainly due to the increase in payment of the notes
Notes payable 1,630,419,356.24 1,034,463,227.41 57.61%
during the period
Mainly due to bonus payments at the beginning of the
Payroll payable 15,968,734.40 176,390,700.65 -90.95%
period
Mainly due to payment of prior-period taxes in the
Tax payable 87,810,282.57 128,468,391.57 -31.65%
current period
Mainly due to the decrease of unrecorded charges
Other payables 103,128,523.46 147,446,172.97 -30.06% payable during the period
Mainly due to amortization of lease liabilities during
Current portion of non-current liabilities 21,487,790.02 30,821,675.68 -30.28%
the period
Mainly due to amortization of lease liabilities during
Lease liabilities 21,394,034.64 34,865,866.13 -38.64%
the period
From 1 January From 1 January
Item 2023 to 30 2022 to 30 YoY Note
September 2023 September 2022
Mainly due to the decrease in government grants
Other income 22,115,084.98 81,779,980.16 -72.96% during the period
Mainly due to the increase in investment income from
Investing Income 38,007,947.61 23,586,517.95 61.14%
associates during the period
Gains/(Losses) on changes in fair Mainly due to changes in fair value of funds
-2,792,536.64 -26,006,918.70 89.26%
value
Mainly due to the increase in bad debts of receivables
Credit impairment losses -13,734,138.50 -7,807,991.01 -75.90%
during the period
Mainly due to the decrease in provision for decline in
Asset impairment losses -4,283,143.29 -9,417,363.71 54.52%
value of inventories during the period
19261.85 Mainly due to the increase in gain on disposal of long-
Gains on disposal of assets 16,935,282.17 -88,380.21
% term assets during the period
Mainly due to the decrease in forfeiture income during
Non-operating income 659,231.65 2,888,754.87 -77.18%
the period
Mainly due to lower expenditure on donations during
Non-operating expenses 4,675,912.72 7,923,602.00 -40.99%
the period
Mainly due to the increase in export tax rebates
Refund of taxes and surcharges 140,157,462.78 92,608,032.81 51.34%
during the period
Cash received from disposal of Mainly due to the disposal of equity interests in
23,412,977.95 10,028,500.00 133.46%
investments associates during the period
Cash received from returns on Mainly due to the decrease in financial income during
7,823,331.00 17,624,470.20 -55.61%
investments the period
Net cash received from disposal of Mainly due to the increase in the disposal of fixed
fixed assets, intangible assets and 1,933,448.00 550,000.00 251.54% assets during the period
other long-term assets
Cash received relating to other Mainly due to the decrease in structured deposits and
215,537,704.52 583,999,999.95 -63.09%
investing activities wealth management recovered during the period
Cash paid to acquire fixed assets, Mainly due to higher purchase of fixed assets in the
intangible assets and other long-term 7,218,962.19 108,447,830.19 -93.34% prior period
assets
Cash payments for interest expenses Mainly due to higher profit distribution in the prior
228,905,100.00 764,858,200.00 -70.07% period
and distribution of dividends or profits
Cash payments relating to other Mainly due to the repurchase of treasury stock in the
45,426,853.65 300,547,731.27 -84.89%
financing activities prior period
II. Shareholder Information
1. Total number of common shareholders and shareholdings of the top ten common shareholders at the period-end
Unit: share
Total number of common shareholders at the end Total number of preferred shareholders with resumed
39,621 0
of the Reporting Period voting rights at the end of the Reporting Period (if any)
4
Joyoung Co., Ltd. Third Quarterly Report
Top 10 common shareholders
Total shares Number of Pledged or frozen shares
Nature of Shareholding
Name of shareholder held at the restricted
shareholder percentage Status Number
period-end shares held
Domestic non-
Shanghai Lihong Enterprise
state-owned 50.13% 384,523,746
Management Limited
corporation
BILTING DEVELOPMENTS Foreign
16.94% 129,924,090
LIMITED corporation
Hong Kong Securities Clearing Foreign
3.89% 29,843,577
Co., Ltd. corporation
Joyoung Co., Ltd.- the First
Phase Employee Stock Others 2.09% 16,000,000
Purchase Plan
State-owned
Central Huijin Investment Ltd. 1.46% 11,201,233
corporation
China Universal Asset
Management Co.,Ltd - Social Others 1.09% 8,363,110
Security Fund 423 Portfolio
Basic Pension Insurance Fund
Others 0.65% 5,001,435
Portfolio No. 1001
Hongde Fund-Ruixing Three-
Year Holding Hybrid Portfolio- Others 0.37% 2,866,878
CMB
CPIC-Dividend-Personal
Others 0.36% 2,752,412
Dividend
China Universal Fund-Private
Others 0.33% 2,512,133
Co. Hybrid Portfolio-ICBC
Top 10 non-restricted common shareholders
Number of non-restricted shares Type of shares
Name of shareholder
held Type of shares Number
RMB common
Shanghai Lihong Enterprise Management Limited 384,523,746 384,523,746
stock
RMB common
BILTING DEVELOPMENTS LIMITED 129,924,090 129,924,090
stock
RMB common
Hong Kong Securities Clearing Co., Ltd. 29,843,577 29,843,577
stock
RMB common
Joyoung Co., Ltd.- the First Phase Employee Stock Purchase Plan 16,000,000 16,000,000
stock
RMB common
Central Huijin Investment Ltd. 11,201,233 11,201,233
stock
China Universal Asset Management Co.,Ltd - Social Security Fund RMB common
8,363,110 8,363,110
423 Portfolio stock
RMB common
Basic Pension Insurance Fund Portfolio No. 1001 5,001,435 5,001,435
stock
RMB common
Hongde Fund-Ruixing Three-Year Holding Hybrid Portfolio-CMB 2,866,878 2,866,878
stock
RMB common
CPIC-Dividend-Personal Dividend 2,752,412 2,752,412
stock
RMB common
China Universal Fund-Private Co. Hybrid Portfolio-ICBC 2,512,133 2,512,133
stock
In April 2019, the shareholding structure of Bilting Developments
Limited changed. MR. Xuning WANG, the actual controller of the
Related or acting-in-concert parties among shareholders above Company, became the actual controller of Bilting Developments Limited
(See Report No. 2019-027 of the Company on www.chinainfo.com.cn.).
As a result, Shanghai Lihong Enterprise Management Co., Ltd. and Bilting
5
Joyoung Co., Ltd. Third Quarterly Report
Developments Limited, both controlled by Mr. Xuning WANG, are defined
as acting-in-concert parties by the Administrative Measures for the
Takeover of Listed Companies.
Other than the aforementioned related and acting-in-concert parties,
the Company is uncertain about whether there are related or acting-in-
concert parties among shareholders above.
Explanation on common shareholders participating in securities
N/A
margin trading
The number of ordinary shares held in the repurchase specialized
Explanation on the existence of repurchase special accounts among account of Joyoung Co., Ltd. at the end of the reporting period was
the top 10 shareholders 4,000,000 shares, accounting for 0.52% of the total share capital of the
Company.
2.Total Number of Preferred Shareholders and TOP 10 Preferred Shareholders and Their Shareholdings
□ Applicable √ Not applicable
III. Other Significant Events
□ Applicable √ Not applicable
IV. Quarterly Financial Statements
1. Financial Statements
1.1 Consolidated Balance Sheet
Prepared by: Joyoung Co., Ltd.
Unit: RMB
Item 30 September 2023 1 January 2023
Current assets:
Cash at bank and on hand 1,866,264,551.50 1,569,780,561.99
Deposit reservation for balance
Lending funds
Trading financial expense
Derivative financial assets
Notes receivable 1,153,309,731.61 1,397,044,352.08
Accounts receivable 980,653,962.67 687,360,521.01
Receivables financing 195,462,097.39 427,367,850.03
Prepaid expense 39,013,292.29 15,317,578.78
Premium receivable
Reinsurance accounts receivable
Provision of cession receivable
Other receivables 17,590,559.24 23,864,332.45
Including: Interest receivable
Dividend receivable
Redemptory monetary capital for sale
Inventories 588,748,707.52 680,206,435.03
Contract assets
Holding assets for sale
Current portion of non-current liabilities
Other current assets 191,436,763.01 135,347,853.88
6
Joyoung Co., Ltd. Third Quarterly Report
Item 30 September 2023 1 January 2023
Total current assets 5,032,479,665.23 4,936,289,485.25
Non-current assets:
Issuance of loans and advances
Equity expense
Other equity investments
Long-term receivables 7,118,950.00 11,628,050.00
Long-term equity investments 233,368,701.48 218,019,395.58
Investments in other equity instruments 301,729,004.44 293,766,947.76
Other non-current financial assets 526,239,063.29 518,498,260.84
Investment properties 97,354,147.66 104,729,093.62
Fixed assets 602,314,096.68 637,041,742.43
Construction in progress 25,704,229.43 24,650,115.63
Productive biological asset
Oil and gas assets
Right-of-use assets 41,773,984.06 63,214,031.04
Intangible assets 117,350,815.70 120,749,523.33
Development expenditures
Goodwill
Long-term prepaid expenses 1,971,720.18 2,035,089.24
Deferred tax assets 92,402,486.51 79,657,000.15
Other non-current assets 65,000,000.00 65,000,000.00
Total non-current assets 2,112,327,199.43 2,138,989,249.62
TOTAL ASSETS 7,144,806,864.66 7,075,278,734.87
Current liabilities:
Short-term borrowings
Loans from the central bank
Loans from other banks
Trading financial liabilities
Derivative financial liability
Notes payable 1,630,419,356.24 1,034,463,227.41
Accounts payable 1,512,659,599.21 1,890,029,094.22
Unearned revenue
Contract liabilities 197,629,212.46 235,079,333.95
Financial assets sold for repurchase
Deposits from customers and interbank
Receivings from vicariously traded securities
Receivings from vicariously sold securities
Payroll payable 15,968,734.40 176,390,700.65
Tax payable 87,810,282.57 128,468,391.57
Other payables 103,128,523.46 147,446,172.97
Including: Interest payable
Dividend payable
Handling fees and commissions payable
Dividend payable for reinsurance
Holding liabilities for sale
Current portion of non-current liabilities 21,487,790.02 30,821,675.68
Other current liabilities 25,691,797.62 30,049,004.28
Total current liabilities 3,594,795,295.98 3,672,747,600.73
Non-current liabilities
Reserve fund for insurance contracts
Long-term borrowings
Bonds payable
Including: Preferred stock
Perpetual bonds
Lease liabilities 21,394,034.64 34,865,866.13
7
Joyoung Co., Ltd. Third Quarterly Report
Item 30 September 2023 1 January 2023
Long-term payables
Long-term payroll payable
Accrued liabilities 3,848,998.00
Deferred income 7,422,152.96 8,392,777.94
Deferred tax liabilities 35,667,596.81 32,292,528.50
Other non-current liabilities
Total non-current liabilities 68,332,782.41 75,551,172.57
Total liabilities 3,663,128,078.39 3,748,298,773.30
Shareholders’ equity
Share capital 767,017,000.00 767,017,000.00
Other equity instruments
Including: preferred stock
Perpetual bond
Capital surplus 663,945,117.10 652,750,093.75
Less: Treasury stock 68,026,879.84 68,026,879.84
Other comprehensive income 47,641,756.36 39,971,966.68
Special reserve
Surplus reserve 397,820,873.71 397,820,873.71
General risk reserve
Undistributed profits 1,658,665,788.46 1,524,056,965.76
Total equity attributable to shareholders of the Company 3,467,063,655.79 3,313,590,020.06
Minority interests 14,615,130.48 13,389,941.51
Total shareholders’ equity 3,481,678,786.27 3,326,979,961.57
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 7,144,806,864.66 7,075,278,734.87
Legal representative: Ningning Yang Principal in charge of accounting: Jiangang Kan Head of accounting department: Wen G uo
1.2 CONSOLIDATED INCOME STATEMENTS FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2023
Unit: RMB
For the nine months ended
For the nine months ended
Item 30 September 2022
30 September 2023
（After Adjustment）
Total revenue 6,781,172,561.74 6,925,037,008.62
Including: Operating revenue 6,781,172,561.74 6,925,037,008.62
Interest income
Earned Premium
Handling fees and commission income
Total operating cost 6,425,277,119.84 6,413,441,215.08
Including: Cost of sales 5,059,468,353.71 4,935,158,506.72
Interest expense
Handling fees and commission expenses
Surrender value
Net payments for insurance claims
Net provision for insurance liability
Bond insurance expense
Amortized Reinsurance Expenditures
Taxes and surcharges 26,471,397.57 32,881,324.70
Selling and distribution expenses 892,555,999.96 1,019,378,838.01
General and administrative expenses 246,469,168.86 241,615,214.05
Research and development expenses 253,378,153.81 244,203,246.98
8
Joyoung Co., Ltd. Third Quarterly Report
For the nine months ended
For the nine months ended
Item 30 September 2022
30 September 2023
（After Adjustment）
Financial income -53,065,954.07 -59,795,915.38
Including: Interest expenses 1,329,106.73 1,436,001.01
Interest income 32,331,853.69 31,900,532.90
Add: Other income 22,115,084.98 81,779,980.16
Investment income/(loss) 38,007,947.61 23,586,517.95
Including: Investment income from associates and joint ventures 30,781,830.53 21,275,511.67
Profits or losses arising from derecognition of financial
assets measured at amortized costs
Foreign exchange gains/(losses)
Net exposure to hedging gains/(losses)
Gains/(Losses) on changes in fair value -2,792,536.64 -26,006,918.70
Credit impairment losses -13,734,138.50 -7,807,991.01
Asset impairment losses -4,283,143.29 -9,417,363.71
Losses on disposal of assets 16,935,282.17 -88,380.21
Operating profit 412,143,938.23 573,641,638.02
Add: Non-operating income 659,231.65 2,888,754.87
Less: Non-operating expenses 4,675,912.72 7,923,602.00
Total profit 408,127,257.16 568,606,790.89
Less: Income tax expenses 43,388,145.49 70,525,061.56
Net Profit 364,739,111.67 498,081,729.33
(1) Classified by continuity of operations
Net profit from continuing operations 364,739,111.67 498,081,729.33
Net profit from discontinued operations
(2) Classified by ownership of the equity
Attributable to shareholders of the Company 363,513,922.70 504,591,109.63
Minority interests 1,225,188.97 -6,509,380.30
Other comprehensive income, net of tax 7,669,789.68 25,503,560.19
Other comprehensive income attributable to equity owners of the Company, 7,669,789.68 25,503,560.19
net of tax
(1) Other comprehensive income items which will not be reclassified 7,962,056.68 25,643,923.26
subsequently to profit or loss
1) Changes arising from remeasurement of defined benefit plan
2) Other comprehensive income that cannot be transferred to profit or loss
under the equity method
3) Changes in fair value of investments in other equity instruments 7,962,056.68 25,643,923.26
4) Changes in fair value of an enterprise's own credit risk
5) Others
(2) Other comprehensive income items which will be reclassified -292,267.00 -140,363.07
subsequently to profit or loss
1) Other comprehensive income available for transfer to profit or loss under
the equity method
2) Changes in fair value of other debt investments
3) Reclassification of financial assets to other comprehensive income
4) Provision for credit impairment of other debt investments
5) Cash flow hedge reserve
Differences on translation of foreign currency financial statements -292,267.00 -140,363.07
Others
Other comprehensive income attributable to minority shareholders, net of tax
Total comprehensive income 372,408,901.35 523,585,289.52
9
Joyoung Co., Ltd. Third Quarterly Report
For the nine months ended
For the nine months ended
Item 30 September 2022
30 September 2023
（After Adjustment）
Attributable to equity owners of the Company 371,183,712.38 530,094,669.82
Attributable to minority interests 1,225,188.97 -6,509,380.30
Earnings per share:
(1) Basic earnings per share 0.49 0.66
(2) Diluted earnings per share 0.49 0.66
In the case of a business combination under the same control in the current period, the net income realized by the party being consolidated before
the combination was: $0.00, and the net income realized by the party being consolidated in the previous period was: $0.00.
Legal representative: Ningning Yang Principal in charge of accounting: Jiangang Kan Head of accounting department: Wen Guo
1.3 CONSOLIDATED CASH FLOW STATEMENTS
Unit: RMB
For the nine months ended 30 For the nine months ended 30
Item
September 2023 September 2022
1. Cash flows from operating activities
Cash received from sales of goods or rendering of services 7,713,100,132.01 8,467,758,355.02
Net increase in customer deposits and deposits from banks and
other financial institutions
Net decrease in deposits with the Central Bank
Net decrease in deposits with other financial institutions
Cash received from premiums of original insurance contracts
Net cash received from reinsurance operations
Net increase in policyholders' savings and investment funds
Cash received from interest, fee and commission
Net increase in borrowed funds
Net increase in funds for repurchase operations
Net cash received from agency purchases and sales of securities
Refund of taxes and surcharges 140,157,462.78 92,608,032.81
Cash received relating to other operating activities 301,830,237.95 310,871,232.42
Sub-total of cash inflows 8,155,087,832.74 8,871,237,620.25
Cash paid for goods and services 5,404,457,828.45 5,651,386,813.10
Net increase in loans and advances to customers
Deposits from banks and other financial institutions
Cash payment of benefits from the original insurance contract
Net increase in funds removed
Cash paid for interest, fee and commission
Cash paid as policy dividends
Cash paid to and on behalf of employees 637,852,785.87 562,339,589.68
Payments of taxes and surcharges 542,579,834.73 466,365,214.13
Cash paid relating to other operating activities 1,143,111,281.84 1,281,332,011.71
Sub-total of cash outflows 7,728,001,730.89 7,961,423,628.62
Net cash flows from operating activities 427,086,101.85 909,813,991.63
2. Cash flows from investing activities
Cash received from disposal of investments 23,412,977.95 10,028,500.00
Cash received from returns on investments 7,823,331.00 17,624,470.20
Net cash received from disposal of fixed assets, intangible assets 1,933,448.00 550,000.00
and other long-term assets
10
Joyoung Co., Ltd. Third Quarterly Report
For the nine months ended 30 For the nine months ended 30
Item
September 2023 September 2022
Net cash received from disposal of subsidiaries and other business
units
Cash received relating to other investing activities 215,537,704.52 583,999,999.95
Sub-total of cash inflows 248,707,461.47 612,202,970.15
Cash paid to acquire fixed assets, intangible assets and other 7,218,962.19 108,447,830.19
long-term assets
Cash paid to acquire investments 30,000,000.00
Net increase in pledged loans
Net cash paid to acquire subsidiaries and other business units
Cash paid relating to other investing activities 208,400,000.00 247,317,000.00
Sub-total of cash outflows 215,618,962.19 385,764,830.19
Net cash flows from investing activities 33,088,499.28 226,438,139.96
3. Cash flows from financing activities
Cash received from capital contributions
Including: Cash received from capital contributions by minority
shareholders of subsidiaries
Cash received from borrowings
Cash received relating to other financing activities
Sub-total of cash inflows
Cash repayments of borrowings
Cash payments for interest expenses and distribution of dividends 228,905,100.00 764,858,200.00
or profits
Including: Cash payments for dividends or profit to minority
shareholders of subsidiaries
Cash payments relating to other financing activities 45,426,853.65 300,547,731.27
Sub-total of cash outflows 274,331,953.65 1,065,405,931.27
Net cash flows from financing activities -274,331,953.65 -1,065,405,931.27
4. Effect of foreign exchange rate changes on cash 21,456,401.20 30,257,427.61
and cash equivalents
5. Net increase in cash and cash equivalents 207,299,048.68 101,103,627.93
Add: Cash and cash equivalents at the beginning of the period 1,185,675,103.58 1,675,928,534.37
6. Cash and cash equivalents at the end of the period 1,392,974,152.26 1,777,032,162.30
2.Adjustments to items related to financial statements at the beginning of the year of first -time
implementation of new accounting standards from 2023 onwards
Description of adjustments:
Affected statement items and amounts:
2.1、Consolidated Balance Sheets：
Unit：RMB
Book value as per the new
Book value as per previous standard
Item Accounting policy adjustments standard
31 December 2021 1 January 2022
Deferred tax assets 81,009,251.87 111,899.78 81,121,151.65
Undistributed profit 2,139,490,447.69 111,899.78 2,139,602,347.47
Unit：RMB
Book value as per the new
Book value as per previous standard
Item Accounting policy adjustments standard
31 December 2022 1 January 2023
11
Joyoung Co., Ltd. Third Quarterly Report
Deferred tax assets 79,141,215.97 515,784.18 79,657,000.15
Undistributed profit 1,523,541,181.58 515,784.18 1,524,056,965.76
2.2、Consolidated Income Statement
Unit: RMB
Beginning of 2022 to the end of reporting Accounting policy From the beginning of 2022 to the end of
Item
period before restatement adjustments restated reporting period
Income tax expense 70,519,810.73 5,250.83 70,525,061.56
Net profit attributable to parent
504,596,360.46 -5,250.83 504,591,109.63
company
Unit: RMB
Accounting policy
Item Before the 2022 annual restatement After the 2022 annual restatement
adjustments
Income tax expense 60,905,580.94 -403,884.40 60,501,696.54
Net profit attributable to parent
529,501,433.89 403,884.40 529,905,318.29
company
2.3、Balance Sheet of Parent Company
Unit: RMB
Book value as per previous Book value as per the new
Item standard Accounting policy adjustments standard
31 December 2021 1 January 2022
Deferred tax assets 24,095,453.21 72,649.52 24,168,102.73
Undistributed profit 1,192,996,136.65 72,649.52 1,193,068,786.17
Unit: RMB
Book value as per previous Book value as per the new
standard Accounting policy adjustments standard
Item
31 December 2022 1 January 2023
Deferred tax assets 33,844,535.85 306,374.64 34,150,910.49
Undistributed profit 1,293,726,523.94 306,374.64 1,294,032,898.58
2.4、Income Statement of Parent Company
Unit: RMB
Beginning of 2022 to the end of reporting Accounting policy From the beginning of 2022 to the end of
Item
period before restatement adjustments restated reporting period
Income tax expense 7,448,956.22 21,972.97 7,470,929.19
Net profit attributable to parent
650,715,764.23 -21,972.97 650,693,791.26
company
Unit: RMB
Accounting policy
Item Before the 2022 annual restatement After the 2022 annual restatement
adjustments
Income tax expense 34,650,372.06 -233,725.12 34,416,646.94
Net profit attributable to parent
1,246,181,087.29 233,725.12 1,246,414,812.41
company
3. Auditing Report
12
Joyoung Co., Ltd. Third Quarterly Report
Whether the third quarterly report was audited
□ Yes √ No
Joyoung Co., Ltd. Board of Directors
31 October 2023
13