Shenzhen China Bicycle Company (Holdings) Limited First Quarterly Report 2011 (Full Text)
Shenzhen China Bicycle Company (Holdings) Limited
The First Quarterly Report 2011 (Full Text)
§1. Important Notes
1.1 Board of Directors and the Supervisory Committee of Shenzhen China Bicycle Company
(Holdings) Limited (hereinafter referred to as the Company) and its directors, supervisors and
senior executives hereby confirm that there are no any fictitious statements, misleading statements,
or important omissions carried in this report, and shall take all responsibilities, individual and/or
joint, for the reality, accuracy and completion of the whole contents.
1.2 The First Quarterly Financial Report of 2011 has not been audited by CPAs.
1.3 Person in Charge of the Company Luo Guiyou, Person in Charge of Accounting Works Zhang
Zebing and Person in Charge of Accounting Organ (Accounting Supervisor) Sun Longlong hereby
confirm that the Financial Report of the First Quarterly Report is true and complete.
§2. Company Profile
2.1 Main accounting highlights and financial indexes:
Unit: RMB
At the end of the report At the period-end of the Changes of
period last year increase/decrease (%)
Total assets (RMB) 157,949,010.90 138,158,078.89 14.32%
Owners’ equity attributable to
shareholders of the listed company -1,768,336,196.05 -1,756,185,442.87 0.69%
(RMB)
Share capital (Share) 551,347,947.00 551,347,947.00 0.00%
Net asset per share attributable to
shareholders of listed company -3.21 -3.19 6.27%
(RMB/Share)
The same period of last Changes of
In the report period
year increase/decrease (%)
Total operating income (RMB) 55,263,134.64 49,006,540.55 12.77%
Net profit attributable to shareholders of
-12,150,753.18 -28,845,174.18 -57.88%
the listed company (RMB)
Net cash flow arising from operating
7,503,023.21 8,246,599.66 -9.02%
activities (RMB)
Net cash flow arising from operating
0.01 0.01 0.00%
activities per share (RMB/Share)
Basic earnings per share (RMB/Share) -0.0220 -0.0523 -57.93%
Diluted earnings per share (RMB/Share) -0.0220 -0.0523 -57.93%
Weighted average return on equity (%)
Weighted average return on equity after
deducting non-recurring gains and losses
(%)
Items of non-recurring gains and losses
√ Applicable □ Inapplicable
Unit: RMB
Items of non-recurring gains and losses Amount Annotation (if
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Shenzhen China Bicycle Company (Holdings) Limited First Quarterly Report 2011 (Full Text)
applicable)
Other non-operating income and expenditure except
95,386.35
for the aforementioned items
Total 95,386.35 -
2.2 Total number of shareholders at the end of the report period and shares held by the top
ten shareholders with unrestricted conditions
Unit: Share
Total number of shareholders
34,760
at the end of report period
Particulars about the shares held by the top ten tradable shareholders with unrestricted conditions
Amount of tradable shares with
Full name of shareholder unrestricted conditions held at Type of shares
the end of report period
Domestically listed
GUOTAI JUNAN SECURITIES(HONGKONG) LIMITED 6,863,744
foreign shares
Domestically listed
BOCI SECURITIES LIMITED 5,146,950
foreign shares
Domestically listed
TANG JING YUAN 2,213,175
foreign shares
Domestically listed
Zhang Huiling 1,976,736
foreign shares
Domestically listed
Lin Shaowei 1,938,600
foreign shares
Domestically listed
Zeng Ying 1,791,552
foreign shares
CORE PACIFIC-YAMAICHI INTERNATIONAL (H.K.) Domestically listed
1,582,779
LIMITED foreign shares
Domestically listed
Gao Lingyun 1,572,100
foreign shares
Domestically listed
Guo Jinyun 1,487,300
foreign shares
Domestically listed
Xu Wanqi 1,478,787
foreign shares
§3. Significant Events
3.1 Particulars about material changes in items of main accounting statement and financial index,
and explanations of reasons
√Applicable □Inapplicable
1. Monetary capital at period-end increased by 42.16% mainly due to that loan received in advance of
subsidiary Armeni increased;
2. Inventory at period-end increased by 71.03% mainly due to that subsidiary Armeni increased
prepared commodities for sales busy season;
3. Accounts received in advance at period-end increased by 71.44% mainly due to loan received in
advance of subsidiary Armeni increased;
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Shenzhen China Bicycle Company (Holdings) Limited First Quarterly Report 2011 (Full Text)
4. Financial in this period decreased by 60.12% mainly due to that RMB valuation in this period
produced larger currency gains/loss, and at end of last year, the Company reconciled debts thus
reduced interest-bearing debts, and financial expenses in this period decreased.
3.2 Analysis and explanation of significant events and their influence and solutions
3.2.1 Particular about Qualified Opinion
√Applicable □Inapplicable
The Board of Directors agreed the 2010 Auditor’s Report offered by Shenzhen Pengcheng Certified
Public Accountants Co., Ltd. Due to that the debt restructuring work of the Company had not been
completely finished in 2010, so risk of bearing huge debt still remained with many significant
uncertainties. The CPAs was not able to offer opinion on the financial debt, tax payable, contingent
proceedings, lawsuits and sustainable operation.
In light of that, the Board of the Company made the following explanations:
I. Financial debt
Shenzhen Pengcheng CPAs held that: the letters replied from the financial creditors for the inquiry
showed that the Company missed to record an interest balance totaling to RMB 324,879,558.04,
and some letters were replied without confirmation on interest for the principal of loans totaling to
RMB 111,584,308.44. So it was not available to confirm influence on financial statement by
financial debt.
The Company provided explanation in Note 10 for details of interest confirmation balance: when
some creditors implemented the document ((2004) No.6) released by China Committee on Bank
Supervision, they had different understanding on this document with the Company. The document
noticed that: Bank of China and other 11 financial organizations stop calculating the interest of the
Company for 3 years since Jan 1st of 2002 and at the same time, exempt all the interest payable of
the Company (including penalty interest and compound interest) occurred before Dec 31st of 2001.
Some assets management companies and banks considered that the Company was expected to
return the interest exempted and stop-calculated, and some assets management companies had not
confirmed the proceeding of interest calculation. The Company had transferred all the interest of
loans payable owed before Dec 31st of 2001, RMB 357,993,665.24, (including penalty interest and
compound interest) to capital public reserve. Interest was stopped with calculation from Jan 1st of
2002 to Dec 31st of 2004. The exempt term was due on Dec 31st of 2004. The Company held it was
not necessary for him to return the interest exempted and stop-calculated, so when the term was
due, the Company started to withdraw interest according to normal loan for those interests which
needed to be returned. The stop-calculated interest and compound interest from Jan 1st of 2002 to
Dec 31st of 2004 was not accrued. The company began to accrued interest till the interest-ceasing
period ended.
Besides, the financial debt of the Company was formed in history which had occurred for a long
time and the amount of period–end had not changed for years. Body qualification of some creditors
had been transferred and the particular personnel for handling had also changed, so the creditors
needed time to check clearly the amount of creditor and debt of both involved parties and that was
why some creditors had not replied the letters to confirm.
The Company would continuously advance the account-check work with the relevant creditors of
financial debt, trying as soon as possible to check clearly the interest on principal of the financial
debt. Once progress is made, relevant information would be disclosed according to relevant
regulation.
II. Issues on tax payable
Shenzhen Pengcheng Certified Public Accountants Co., Ltd. thought that: in the audit process, the
CPAs implemented audit procedures including inspection and inquiry, inquiring book tax amount
payable, custom guarantee and penalty balance totaling to RMB 119,902,328.56. Until the audit
report day, no reply has been received, so it was impossible for us to confirm the influence on
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Shenzhen China Bicycle Company (Holdings) Limited First Quarterly Report 2011 (Full Text)
financial statement of the Company.
Due to the Company’s tax payable was formed in the past, which had a long time, forming reasons
were complex, personnel of specific affairs had changed, and tax department needed time to check
clear the debts rights and amounts of both sides, therefore, we are not able to receive confirmation
letter from tax department. According to the regulations in Administration of Tax Collection
regulated by the State, it is possible to repay the penalties and overdue fine. The Company will
continue to follow up the work of checking account of tax department, check clear the amount of
tax payable as soon as possible, and will disclose information according to the requirements of
relevant regulations if there is some progress.
III. Contingent events and lawsuits
Shenzhen Pengcheng Certified Public Accountants believed that: card information for loans of the
Company was not accordant because of system updating and other seasons; during the auditing, the
CPAs made field verification in relevant courts involved in lawsuits for external guarantee and
overdue loans of the Company as substitute audit procedure, while no confirmation document had
been obtained from the relevant courts. Besides, due to that it was hard to implement other effective
audit procedures, it was unable for us to judge whether the Company had disclosed complete
contingent events and lawsuits, and impacts on its financial statement.
The historically formed loan and guarantee lawsuit had existed rather long time; in the report
period, there was no newly-added undisclosed guarantee events and lawsuits; part courts in charge
of those lawsuits changed, and specific responsible people also altered; the court needs time to
check details and amount of the case, so the court didn’t write back for confirmation. The Company
will continue follow up the check work by certified public accountants with related courts, and
checks clear the contingent events and lawsuits as soon as possible. If there is any progress,
information disclosure will be made according to requirements of relevant regulations.
IV. Matters on sustainable operations
Shenzhen Pengcheng Certified Public Accountants thought that, the Company’ asset could
seriously not offset the debt; and could not be able to get adequate and proper audit evidence to
confirm it could effectively improve the continuous operations of the Company; thus, we could not
judge whether the financial report 2010 prepared by the Company based on imagined continuous
operations was proper. Thus the Company and its largest creditor took the following measurements:
Since March 2003, the promotion on debt restructuring by the former largest creditor of the
Company-China Huarong Asset Management Corporation acquired a certain development, China
Banking Regulatory Commission and relevant departments approved to exempt and stop all the
interests of the financial debts the Company owed ended Dec.31, 2004.
The Company and International Finance Corporation signed Reconciled Agreement on Mar 29th of
2007, in which it was agreed to settle all the credits and liabilities between the two parties with
USD equivalent to RMB 2 million. The liabilities amount was consisted of principal approximately
amounting to USD 3.87 million and an accrued interest approximately amounting to RMB 42.78
million.
On Oct. 15 of 2010, the Company signed the Debts Reconcile Term with Shenzhen Chengxingtai
Investment Co., Ltd which agreed the Company should pay the compensation to Chengxingtai
Company with RMB 14 million thus settled up all the creditor’s right and debts (about RMB 150
million). The above RMB 14 million has been settled up on Nov. 30 of 2010 totally.
On Dec. 30, 2006, China Huarong Asset Management Corporation transferred its creditor right to
Shenzhen Guocheng Energy Investment Development Co., Ltd (hereinafter Guocheng Energy
Company for short). Guocheng Energy Company now was actively promoting the restructuring
works on relevant debts and got certain development. Regarding the largest shareholder and creditor
had changed and new bankruptcy law was conducted, in Jan of 2010 Guocheng Energy Company
applied to Shenzhen Intermediate People’s Court for restructuring of the Company according to the
regulations of Bankruptcy Law, with goal of resuming sustainable operating ability through
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Shenzhen China Bicycle Company (Holdings) Limited First Quarterly Report 2011 (Full Text)
restructuring. On Dec. 28 of 2010, Shenzhen Intermediate People’s Court believed that applicants
didn’t submit materials such as solution plan both parties accepted which was formed from
settlement of tax income and creditor’s right with tax department, and then ruled that they didn’t
accept application of bankruptcy restructure Shenzhen Guochen Energy Investment and
Development Co., Ltd raised up. Besides, Guochen Energy Company agreed to stop accounting
RMB 40.35 million of loan interests in 2010. This item of interests won’t be received in future
years.
Along with the promotion of debt restructuring the main business of the Company also realized
stable development and continuously profited. Pressure of short-term payment of the Company had
largely decreased; constant operation ability got a certain improvement. The Board of Directors of
the Company thought that with constant development of the implementation of debt and assets
restructuring, the operating environment, operating situation and constant operating ability of the
Company would be improved further.
3.2.2 Particular about fund offered to shareholder or its related parties by the Company and
external guarantee with procedure violation
□Applicable √Inapplicable
3.2.3 Particular about the significant contract of routine operation signed and implemented
□Applicable √Inapplicable
3.2.4 Other
√Applicable □Inapplicable
I. Change on actual controller of the Company: On Jan. 3 of 2011, Shenzhen Guomin Investment
Co., Ltd controlled by the largest shareholder of the Company Shenzhen Guoshen Energy
Investment and Development Co., Ltd signed equity transfer term with Mr. Ji Hanfei. Guimin
Investment transferred 100% equity of Guoshen Energy to Mr. Ji Hanfei with a price of RMB 70
million, thus legal representative of Guoshen Energy was changed to Mr. Ji Hanfei from Mr. Shang
Shijun. Actual controller of the Company was changed owing to this time of equity transfer. On
Apr. 11 of 2011, in accordance with the rule of the Administration Norms for Purchase of Listed
Companies, we fulfilled disclosures of the Notice to Details of Equity Change and the Notice to
Simple Equity Change.
II. Creditor’s right: During period of bankruptcy and organization of Shengrun Company, charger
of Shengrun Company entrusted Shenzhen Run Eastern Auction Co., Ltd to auction RMB
232,801,657.06 of creditor’s right shared by Guangdong Shengrun Group Holding Co., Ltd who
was creditor of the Company. On Dec. 13 of 2010, Shenzhen Dongtaixing Technology Co., Ltd bid
and got the above creditor’s right. On Jan. 27 of 2011, Shenzhen Intermediate People’s Court made
the civil ruling (2010) SZFMQCZZ No. 5-12 which confirmed the auction of Shenzhen
Dongtaixing Technology Co., Ltd on the above creditor’s right reached a deal. This time of transfer
of creditor’s right put no influence on finance of the Company.
III. That the second largest creditor applied to Shenzhen Intermediate People’s Court for bankruptcy
and organization on the Company: On Mar. 30 of 2011, we received the Notice letter from creditor
Shenzhen Dongtaixing Technology Co., Ltd (hereinafter referred to as Dongtaxing Company) and
we knew that: Regarding Shenzhen Intermediate People’s Court didn’t accept the bankruptcy and
organization application of large shareholder of the Company Shenzhen Guoshen Energy
Investment and Development Co., Ltd, Dongxingtai Company formally submitted documents to
Shenzhen Intermediate Court for legal bankruptcy and organization on Shenzhonghua on Mar. 17 of
2011 as the second largest creditor of the Company. Presently Dongxingtai Company was busy with
various preparation works for relevant hearing procedures. Owing that Shenzhen Intermediate
People’s Court still required applicator to submit materials which were formed after negotiation
with tax department on tax and creditor’s right, such as resolution plans both parties could accept,
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Shenzhen China Bicycle Company (Holdings) Limited First Quarterly Report 2011 (Full Text)
thus there still exists significant uncertainty whether the application will be accepted by Shenzhen
Intermediate People’s Court accepted and whether the Company can be in process of organization.
Though the court accepts this case, the liquidation will come if reorganization failed. So majority
investors please pay attention to the risks. The board of directors will closely centralize on the
progress of this case, strictly performance the duty of information disclosure, and timely disclose
relevant information.
3.3 Implementations of commitments by the Company, shareholders and actual controller
Commitments make within the report period or persisted to the period by listed company and its
director, supervisor and senior executives, shareholder with over 5 percent shares held and its actual
controller
√Applicable □Inapplicable
Implem
Commitments Promisee Content of commitments entatio
n
Shenzhen
Guoshen Previous non-tradable shares are
Energy forbidden to be listed or transferred
Development within 12 months since implementation
Co., Ltd, day of reform plan; once the term of the
Compli
Zhuorun former rule ends, previous shareholders
ed with
Commitments for Share Merger Technology who held more than 5% non-tradable
the
Reform Co., Ltd, shares could list and trade their
commit
Shenzhen non-tradable shares through stock
ments
Kangsheng exchange. But the sale amount can’t
Investment Co., take beyond 5% in total shares of the
Ltd, Jingchao Company within 12 months and 10%
Investment Co., within 24 months.
Ltd
Commitments made in Acquisition
Report or Reports on Change in Naught Naught Naught
Interests
Commitments made in Material
Naught Naught Naught
Assets Reorganization
Commitments made in issuing Naught Naught Naught
Other commitments (including
Naught Naught Naught
additional commitments)
3.4 Estimation of accumulative net profit from the beginning of the year to the end of next
report period to be loss probably or the warning of its material change compared with the
corresponding period of the last year and explanation of reason
√Applicable □Inapplicable
Prediction of
Losses
performances
Year-begin to the end The same period
Change of increase/decrease (%)
of next report period of last year
Estimated amount of
accumulative net -2,500.00 -5,172.00 Down 51.66%
profit(RMB’0000)
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Shenzhen China Bicycle Company (Holdings) Limited First Quarterly Report 2011 (Full Text)
Basic earnings per
-0.045 -0.094 Down 52.13%
share(RMB/Share)
Main reason for loss in the first half year of 2011 was arising from interest
for debt.
Explanations on Loss of the first half year of 2011 decreased comparing with the same of last
prediction of period mainly due to that valuation of RMB made a huge number of
performances gains/loss of currency, and at the end of last year the Company made debts
reconciliation thus reduced interest-bearing debts, thus financial expenses
decreased in this period.
3.5 Other significant events which need explanations
3.5.1 Particulars about securities investment
□Applicable √Inapplicable
3.5.2 Registration form for receiving research, communication and interview in the report
period
The received Contents discussed and
Date Place Way
parties materials supplied
Progresses of Share Merger
In reporting Office of the Communications Tradable
Reform and debts
period Company by telephone shareholder
restructuring of the Company
3.6 Particulars about derivatives investment
□Applicable √Inapplicable
3.6.1 Particulars about derivatives investment held at the end of report period
□Applicable √Inapplicable
§4. Appendix
4.1 Balance sheet
Prepared by Shenzhen China Bicycle Company (Holdings) Limited
March 31, 2011 Unit: RMB
Balance at period-end Balance at year-begin
Items
Consolidation Parent Company Consolidation Parent Company
Current assets:
Monetary funds 25,243,716.64 535,512.36 17,756,773.58 498,624.71
Settlement
provisions
Capital lent
Transaction finance
asset
Notes receivable 3,032,700.00 2,619,699.00
Accounts receivable 1,495,654.22 1,388,243.23 1,732,822.98 1,384,353.23
Accounts paid in
194,676.41 213,423.41
advance
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Shenzhen China Bicycle Company (Holdings) Limited First Quarterly Report 2011 (Full Text)
Insurance receivable
Reinsurance
receivables
Contract reserve of
reinsurance receivable
Interest receivable
Dividend receivable
Other receivables 17,603,746.28 29,639,846.51 18,085,772.89 30,529,810.28
Purchase restituted
finance asset
Inventories 37,099,913.39 14,955,205.05 21,692,678.29 14,965,196.51
Non-current asset
due within one year
Other current assets
Total current assets 84,670,406.94 46,518,807.15 62,101,170.15 47,377,984.73
Non-current assets:
Granted loans and
advances
Finance asset
available for sales
Held-to-maturity
investment
Long-term account
receivable
Long-term equity
2,619,840.50 2,619,840.50 2,619,840.50 2,619,840.50
investment
Investment property 25,212,286.80 25,212,286.80 26,434,648.24 26,434,648.24
Fixed assets 20,207,764.91 19,885,334.96 21,547,992.74 21,221,962.11
Construction in
progress
Engineering
material
Disposal of fixed
asset
Productive
biological asset
Oil and gas asset
Intangible assets 25,238,711.75 25,238,711.75 25,454,427.26 25,454,427.26
Expense on
Research and
Development
Goodwill
Long-term expenses
to be apportioned
Deferred income tax
asset
Other non-current
asset
Total non-current asset 73,278,603.96 72,956,174.01 76,056,908.74 75,730,878.11
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Shenzhen China Bicycle Company (Holdings) Limited First Quarterly Report 2011 (Full Text)
Total assets 157,949,010.90 119,474,981.16 138,158,078.89 123,108,862.84
Current liabilities:
Short-term loans 382,130,668.46 329,930,281.44 384,217,648.09 332,017,261.07
Loan from central
bank
Absorbing deposit
and interbank deposit
Capital borrowed
Transaction
financial liabilities
Notes payable
Accounts payable 139,472,238.86 148,454,726.88 125,628,122.72 148,454,726.88
Accounts received
28,564,441.95 10,664,592.85 16,661,602.20 10,664,592.85
in advance
Selling financial
asset of repurchase
Commission charge
and commission payable
Wage payable 3,955,845.25 2,480,486.91 3,802,240.39 2,372,320.02
Taxes payable 95,016,534.48 94,840,076.10 98,218,863.73 95,784,336.55
Interest payable 229,480,400.30 229,480,400.30 213,488,233.36 213,488,233.36
Dividend payable
Other accounts
165,291,120.77 119,918,334.84 165,837,025.40 120,844,911.76
payable
Reinsurance
payables
Insurance contract
reserve
Security trading of
agency
Security sales of
agency
Non-current
liabilities due within 1 702,530,701.87 702,530,701.87 706,645,180.86 706,645,180.86
year
Other current
754,812.09 726,612.09 756,162.09 726,612.09
liabilities
Total current liabilities 1,747,196,764.03 1,639,026,213.28 1,715,255,078.84 1,630,998,175.44
Non-current liabilities:
Long-term loans
Bonds payable
Long-term account
payable
Special accounts
payable
Projected liabilities 179,088,442.92 179,088,442.92 179,088,442.92 179,088,442.92
Deferred income tax
liabilities
Other non-current
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Shenzhen China Bicycle Company (Holdings) Limited First Quarterly Report 2011 (Full Text)
liabilities
Total non-current
179,088,442.92 179,088,442.92 179,088,442.92 179,088,442.92
liabilities
Total liabilities 1,926,285,206.95 1,818,114,656.20 1,894,343,521.76 1,810,086,618.36
Owner’s equity (or
shareholders’ equity):
Paid-in capital (or
551,347,947.00 551,347,947.00 551,347,947.00 551,347,947.00
share capital)
Capital public
427,132,693.91 427,132,693.91 427,132,693.91 427,132,693.91
reserve
Less: Inventory
shares
Reasonable reserve
Surplus public
32,673,227.01 32,673,227.01 32,673,227.01 32,673,227.01
reserve
Provision of general
risk
Retained profit -2,779,490,063.97 -2,709,793,542.96 -2,767,339,310.79 -2,698,131,623.44
Balance difference
of foreign currency
translation
Total owner’s equity
attributable to parent -1,768,336,196.05 -1,698,639,675.04 -1,756,185,442.87 -1,686,977,755.52
company
Minority interests
Total owner’s equity -1,768,336,196.05 -1,698,639,675.04 -1,756,185,442.87 -1,686,977,755.52
Total liabilities and
157,949,010.90 119,474,981.16 138,158,078.89 123,108,862.84
owner’s equity
4.2 Profit statement
Prepared by Shenzhen China Bicycle Company (Holdings) Limited
Jan.-Mar. 2011 Unit: RMB
Amount in this period Amount in last period
Items
Consolidation Parent Company Consolidation Parent Company
I. Total operating income 55,263,134.64 4,817,240.94 49,006,540.55 3,258,692.35
Including: Operating
55,263,134.64 4,817,240.94 49,006,540.55 3,258,692.35
income
Interest income
Insurance gained
Commission charge
and commission income
II. Total operating cost 67,509,274.17 16,574,546.81 77,911,859.83 32,503,208.30
Including: Operating cost 51,568,797.11 2,379,394.14 46,681,090.46 2,787,671.88
Interest expense
Commission charge
and commission expense
Cash surrender
value
Net amount of
expense of compensation
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Shenzhen China Bicycle Company (Holdings) Limited First Quarterly Report 2011 (Full Text)
Net amount of
withdrawal of insurance
contract reserve
Bonus expense of
guarantee slip
Reinsurance
expense
Operating tax and
53,104.84 34,950.44
extras
Sales expenses 1,313,342.83 1,075,890.21
Administration
5,141,172.66 4,759,139.63 6,465,768.15 6,051,432.96
expenses
Financial expenses 9,432,856.73 9,436,013.04 23,654,160.57 23,664,103.46
Losses of
devaluation of asset
Add: Changing
income of fair value(Loss
is listed with “-”)
Investment income
(Loss is listed with “-”)
Including:
Investment income on
affiliated company and
joint venture
Exchange income
(Loss is listed with “-”)
III. Operating profit
-12,246,139.53 -11,757,305.87 -28,905,319.28 -29,244,515.95
(Loss is listed with “-”)
Add: Non-operating
101,286.35 101,286.35 90,825.10 90,825.10
income
Less: Non-operating
5,900.00 5,900.00 30,680.00 17,000.00
expense
Including: Disposal
loss of non-current asset
IV. Total Profit (Loss is
-12,150,753.18 -11,661,919.52 -28,845,174.18 -29,170,690.85
listed with “-”)
Less: Income tax
V. Net profit (Net loss is
-12,150,753.18 -11,661,919.52 -28,845,174.18 -29,170,690.85
listed with “-”)
Net profit
attributable to owner’s -12,150,753.18 -11,661,919.52 -28,845,174.18 -29,170,690.85
equity of parent company
Minority
shareholders’ gains and
losses
VI. Earnings per share
i. Basic earnings per
-0.0220 -0.0212 -0.0523 -0.0529
share
ii. Diluted earnings per -0.0220 -0.0212 -0.0523 -0.0529
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Shenzhen China Bicycle Company (Holdings) Limited First Quarterly Report 2011 (Full Text)
share
VII. Other consolidated
0.00
income
VIII. Total consolidated
-12,150,753.18 -11,661,919.52 -28,845,174.18 -29,170,690.85
income
Total consolidated
income attributable to
-12,150,753.18 -11,661,919.52 -28,845,174.18 -29,170,690.85
owners of parent
company
Total consolidated
income attributable to
minority shareholders
Concerning the enterprise consolidation under common control occurred in the period; the mergered
party realized net profit before consolidation amounting to RMB00.00.
4.3 Cash flow statement
Prepared by Shenzhen China Bicycle Company (Holdings) Limited
Jan.-Mar. 2011 Unit: RMB
Amount in this period Amount in last period
Items
Consolidation Parent Company Consolidation Parent Company
I. Cash flows arising
from operating activities:
Cash received from
selling commodities and 44,707,222.52 3,900.00 35,827,663.70
providing labor services
Net increase of
customer deposit and
interbank deposit
Net increase of loan
from central bank
Net increase of
capital borrowed from
other financial institution
Cash received from
original insurance
contract fee
Net cash received
from reinsurance
business
Net increase of
insured savings and
investment
Net increase of
disposal of transaction
financial asset
Cash received from
interest, commission
charge and commission
12
Shenzhen China Bicycle Company (Holdings) Limited First Quarterly Report 2011 (Full Text)
Net increase of
capital borrowed
Net increase of
returned business capital
Write-back of tax
received
Other cash received
concerning operating 5,407,196.40 5,587,551.09 4,382,614.47 5,579,424.15
activities
Subtotal of cash
inflow arising from 50,114,418.92 5,591,451.09 40,210,278.17 5,579,424.15
operating activities
Cash paid for
purchasing commodities
32,298,268.63 20,462,925.76
and receiving labor
service
Net increase of
customer loans and
advances
Net increase of
deposits in central bank
and interbank
Cash paid for
original insurance
contract compensation
Cash paid for
interest, commission
charge and commission
Cash paid for bonus
of guarantee slip
Cash paid to/for
3,082,191.61 349,601.52 5,834,301.60 422,325.98
staff and workers
Taxes paid 3,383,835.56 1,413,907.34 1,026,037.04 422,747.79
Other cash paid
concerning operating 3,847,099.91 3,791,054.58 4,640,414.11 4,708,090.95
activities
Subtotal of cash
outflow arising from 42,611,395.71 5,554,563.44 31,963,678.51 5,553,164.72
operating activities
Net cash flows
arising from operating 7,503,023.21 36,887.65 8,246,599.66 26,259.43
activities
II. Cash flows arising
from investing activities:
Cash received from
recovering investment
Cash received from
investment income
Net cash received
13
Shenzhen China Bicycle Company (Holdings) Limited First Quarterly Report 2011 (Full Text)
from disposal of fixed,
intangible and other
long-term assets
Net cash received
from disposal of
subsidiaries and other
units
Other cash received
concerning investing
activities
Subtotal of cash
inflow from investing
activities
Cash paid for
purchasing fixed,
16,080.15
intangible and other
long-term assets
Cash paid for
investment
Net increase of
mortgaged loans
Net cash received
from subsidiaries and
other units
Other cash paid
concerning investing
activities
Subtotal of cash
outflow from investing 16,080.15
activities
Net cash flows
arising from investing -16,080.15
activities
III. Cash flows arising
from financing activities
Cash received from
absorbing investment
Including: Cash
received from absorbing
minority shareholders’
investment by
subsidiaries
Cash received from
loans
Cash received from
issuing bonds
Other cash received
concerning financing
activities
14
Shenzhen China Bicycle Company (Holdings) Limited First Quarterly Report 2011 (Full Text)
Subtotal of cash
inflow from financing
activities
Cash paid for
settling debts
Cash paid for
dividend and profit
distributing or interest
paying
Including: Dividend
and profit of minority
shareholder paid by
subsidiaries
Other cash paid
concerning financing
activities
Subtotal of cash
outflow from financing
activities
Net cash flows
arising from financing
activities
IV. Influence on cash and
cash equivalents due to
fluctuation in exchange
rate
V. Net increase of cash
7,486,943.06 36,887.65 8,246,599.66 26,259.43
and cash equivalents
Add: Balance of
cash and cash equivalents 17,756,773.58 498,624.71 22,232,425.07 365,121.06
at the period -begin
VI. Balance of cash and
cash equivalents at the 25,243,716.64 535,512.36 30,479,024.73 391,380.49
period -end
4.4 Auditor’s report
Auditor’s opinions: Un-audited
§5 Other submitted data
5.1 Statement of the non-operational capital occupation and payment by largest shareholder
and its affiliated
□Applicable √Inapplicable
5.2 Particular about external guarantee with regulation violation
□Applicable √Inapplicable
Board of the Director of
Shenzhen China Bicycle Company (Holdings) Limited
27April 2011
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