Shenzhen China Bicycle Company (Holdings) Limited The Third Quarterly Report for 2011 (Full Text)
Shenzhen China Bicycle Company (Holdings) Limited
The Third Quarterly Report For 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 Third Quarterly Financial Report of 2011 has not been audited by CPAs.
1.3 Principal of the Company Luo Guiyou, Person in Charge of Accounting Works Zhang Zebing
and Person in Charge of Accounting Organ (Accounting Officer) Sun Longlong hereby confirm that
the Financial Report of the Third Quarterly Report is true and complete.
§2. Company Profile
2.1 Main accounting highlights and financial indexes:
In RMB Yuan
Increase/decrease
2011.9.30 2010.12.31
scope (%)
Total assets (RMB) 161,785,632.27 138,158,078.89 17.10%
Owners’ equities attributable to
the shareholders of listed -1,708,930,081.16 -1,756,185,442.87 -2.69%
company (RMB)
Share capital (Share) 551,347,947.00 551,347,947.00 0.00%
Net assets per share attributable
to the shareholders of listed -3.0995 -3.1853
company (RMB/Share)
Increase/decreas Increase/decreas
e over the same e over the same
July-Sept. 2011 Jan.-Sept. 2011
period of the period of the
last year (%) last year (%)
Total operating income (RMB) 94,585,408.71 -5.11% 231,123,003.96 4.91%
Net profit attributable to the
Losses reduced 135.64%
shareholders of listed company -4,330,057.92 21,882,997.47
55.25% profitable
(RMB)
Net cash flow arising from
- - 1,873,843.28 -77.24%
operating activities (RMB)
Net cash flow arising from
operating activities per share - - 0.0034 -77.24%
(RMB/Share)
Basic earnings per share Losses reduced 135.64%
-0.0079 0.0397
(RMB/Share) 55.25% profitable
Diluted earnings per share Losses reduced 135.64%
-0.0079 0.0397
(RMB/Share) 55.25% profitable
Weighted average return on
equity (%)
Weighted average return on
equity after deducting
non-recurring gains and losses
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Shenzhen China Bicycle Company (Holdings) Limited The Third Quarterly Report for 2011 (Full Text)
(%)
Items of non-recurring gains and losses
√Applicable □Inapplicable
In RMB Yuan
Items of non-recurring gains and losses Remarks (If
Amount
applicable)
Gains/losses from disposal of non-current assets -197,675.00
Other non-operating income and expenditure beside
47,888,179.19
for the aforementioned items
Total 47,690,504.19 -
2.2 Total number of shareholders at the end of the report period and shares held by the top
ten shareholders of circulation share
In Share
Total number of shareholders
39,179
at the end of report period
Particulars about the shares held by the top ten shareholders with unrestricted conditions
Unrestricted shares held at
Full name of shareholder Type of shares
period-end
Shenzhen Kangsheng Investment
5,972,500 RMB Common shares
Development Co., Ltd.
Domestically listed foreign
BOCI SECURITIES LIMITED 5,068,066
shares
Jing Chao Investment Co., Ltd. 5,001,944 RMB Common shares
Fang Jianli 2,401,000 RMB Common shares
CORE PACIFIC-YAMAICHI
Domestically listed foreign
INTERNATIONAL (H.K.) 2,354,024
shares
LIMITED
Airline Trust Investment Co., Ltd. 2,340,000 RMB Common shares
Domestically listed foreign
TANG JING YUAN 2,213,175
shares
Domestically listed foreign
Zeng Yin 2,165,552
shares
Domestically listed foreign
Zhang Huiling 1,768,149
shares
Domestically listed foreign
Lin Shaowei 1,722,309
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. Inventory: increase 128.47% over that of period-begin, mainly because stock for peak season
increased from subsidiary EMMELLE;
2. Account received in advance: increase 73.46% over that of period-begin, mainly because account
received in advance growth for peak season in subsidiary EMMELLE;
3. Other account payable: increase 140.44% over that of period-begin, mainly because the creditor
changed, item for book-keeping changed correspondingly;
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Shenzhen China Bicycle Company (Holdings) Limited The Third Quarterly Report for 2011 (Full Text)
4. Non-current liability due within one year: decrease 35.31% over that of period-begin, mainly
because the creditor changed, item for book-keeping changed correspondingly;
5. Financial expense: decrease 62.74% over same period of last year, mainly because the RMB gains
a higher apparition in this period, major exchange income raised and debt with interest reduced ;
6. Non-operating income: increase 1136.99% over same period of last year, mainly because debt
restructuring plan for Shengrun Company was completed ruling by the Court, original accrued debts
and predicted liabilities were re-record for decrease in book-keeping.
3.2 Progress of significant events, their influences, and analysis and explanation of their
solutions
3.2.1 Qualified opinion
√Applicable □Inapplicable
Shenzhen Pengcheng Certified Public Accountants Co., Ltd. issued audit report with disclaimer of
opinions for the 2010 Financial Report of the Company. Board of the Company accepted the
Auditing Report 2010 issued by Shenzhen Pengcheng Certified Public Accountants Co., Ltd. Due to
that the debt reorganization 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. Therefore, explanation by the Board as:
1. 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 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 X” 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 10 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.
Part of the 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, so interest and compound interest from Jan 1st
of 2002 to Dec 31st of 2004 was not accrued. The Company should start for interest calculation when
the term was due.
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.
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Shenzhen China Bicycle Company (Holdings) Limited The Third Quarterly Report for 2011 (Full Text)
2. 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. Till the end of
auditing date, no reply has been received, so it was impossible for the CPAs to confirm the influence
on 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.
3. 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.
4. 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. Therefore, the Company and the larger creditor implemented the measures as
followed:
Since March 2003, the promotion on debt restructuring by the former largest creditor of the
Company-China Huarong Asset Management Corporation acquired breakthrough development. The
Company obtained the approval from relevant department such as China Banking Regulatory
Commission, in which all the interests of the financial debts the Company owed ended Dec. 31, 2004
were exempted and stopped interest calculation.
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 US$
equivalent to RMB 2 million. The liabilities amount was consisted of principal approximately
amounting to US$ 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
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Shenzhen China Bicycle Company (Holdings) Limited The Third Quarterly Report for 2011 (Full Text)
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 before Nov. 30 of 2010 totally.
On December 30, 2006, China Huarong Asset Management Corporation transferred its creditor right
to Shenzhen Guosheng Energy Investment Development Co., Ltd.( Guosheng Energy Company for
short), relevant debt restructure work have been in promotion by Guosheng Energy Company
recently and obtained certain progress. Due to the change of largest shareholder of the Company and
the implementation of new Bankruptcy Law, Guosheng Energy Company applied to the Shenzhen
Intermediate People’s Court in January 2010 for restructuring the Company according to the
regulation of Bankruptcy Law, with the purpose of recovering and improving the ability of
sustainable operations of the Company. On 28 December 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 Guosheng Energy
Investment and Development Co., Ltd raised up. Besides, Guosheng Energy Company agreed to stop
accounting RMB 25.3724 million (from January to September of 2011) of loan interests in this
period. This item of interests won’t be received in subsequent years.
With promoting the work of debt restructuring, main business of the Company steadily developed
and gains profit continuously at the same time. The short-tern payment pressure has been released
and has an improvement in sustainable operations. Board of the Directors considered that, with the
gradually progress in debt and assets reorganization, the operation environment, operation status and
the ability of sustainable operation of the Company might obtained a further improvement.
3.2.2 Particular about fund offers to controlling shareholders or associated parties and
external guarantee that against the regulation.
□Applicable √Inapplicable
3.2.3 Particular about signing and implementation on significant contracts of ordinary
management.
□Applicable √Inapplicable
3.2.4 Others
√Applicable □Inapplicable
1. Change of actual controller: on Jan. 3 of 2011, Shenzhen Guomin Investment Development Co.,
Ltd which is controlling shareholder of our major shareholder Shenzhen Guosheng Energy
Investment Development Co., Ltd, signed equity transfer agreement, Guomin Investment transferred
100% equity of Guosheng Energy to Mr. Ji Hanfei with price of RMB 70 million. Thus legal
representative of Guosheng Energy became Mr. Ji Hanfei instead of Mr. Shang Shijun. This equity
transfer belonged to change of actual controller of the Company. In accordance with rules of
Administration Method of Purchase of Listed Companies, on Apr. 11 of 2011, we fulfilled disclosure
of Report of Detailed Equity Change and Report of Simple Equity Change.
2. Creditor’ right transfer: previous creditor Guangdong Shengrun Group Co., Ltd entrusted
Shenzhen Run Eastern Auction Co., Ltd to auction RMB 232,801,657.06 of creditor’s right of the
Company during bankruptcy and restructure period. On Dec. 13 of 2010 Shenzhen Dongtaixing
Technology Co., Ltd bid the above creditor’ right legally; on Jan. 27 of 2011 Shenzhen Medium
People’s Court issued civil ruling letter (2010) SZFMQZZi No. 5-12, confirmed barging of buyer
Shenzhen Dongtaixing Technology Co., Ltd over the above creditor’ right of Shengrun Company.
This transfer didn’t take impact on finance of the Company presently.
3. Particulars about that the secondary majority creditor applied to Shenzhen Medium People’s Court
for bankruptcy and restructure of the Company: the Company received letter from creditor Shenzhen
Dongtaixing Technology Co., Ltd (hereinafter referred to as Dongtaixing Company) namely Zhihui
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Shenzhen China Bicycle Company (Holdings) Limited The Third Quarterly Report for 2011 (Full Text)
and learned: regarding Shenzhen Medium People’s Court on Dec. 28 of 2010 ruled not to accept
application from major shareholder Shenzhen Guosheng Energy Investment Development Co., Ltd
over bankruptcy and restructure of the Company. As the 2nd largest creditor, Dongtaixing Company
had formally submitted document and legally applied to Shenzhen Medium Court for bankruptcy and
restructure of Shenzhonghua on Mar. 17 of 2011. Currently, Dongtaixing Company is busy with
preparing for relevant hearing procedures. Shenzhen Medium People’s Court required applier to
submit materials about agreement with tax department and disposal of tax creditor’s right which both
parties accept. Thus there is still uncertainty whether this application can be into restructure
procedure. Even though court accepts the case, restructure fails the Company will be faced with
bankruptcy and composition. Investors please pay attention to. The board of directors will closely
track progress of the case; strictly and timely disclose relevant information.
4. Event of stop-calculation interest: On June 7 of 2011, the Company received Reply of Letter about
Applying for Stopping Calculating 2011 Annual Debt Interest of the Company from major
shareholder and largest creditor namely Shenzhen Guosheng Energy Investment Development Co.,
Ltd (hereinafter referred to as Guosheng Energy): Guosheng Energy agreed to dismiss 2011 annual
interests on RMB 9,124,638.59 and US$ 62,829,259.02 of debts held from the Company. Interest
which was stopped to be calculated above won’t be recovering in subsequent years. The stopped
calculated interest shows favorable influence on sustainable development of the Company.
Approximately RMB 34 million interests stopped for calculation, according to relevant accounting
rules and related regulations, the interest will conducts accounting treatment reckoned into capital
reserve which shows no influence on gains/losses of the Company.
5. Promotion of internal control construction: according to the requirement of “Notice of relevant
works of standard pilots for internal control in listed companies within area of Shenzhen” from
Shenzhen Securities Supervisor Bureau, preparation works of internal control were conducted
actively by the Company. The “Implementation Plan for Internal Control” was formulated and
professional consultant body was appointed by the Company for internal control construction. Within
this period, every works were promoted steadily and orderly on schedule so far.
3.3 Implementations of commitments by the Company, shareholders and actual controller
√Applicable □Inapplicable
The following events committed by related parties such as listed companies, directors, supervisors,
senior management, shareholders holding above 5% shares of the Company as well as actual
controllers in reporting period or extending to reporting period.
Promisee Implementati
Commitments Content of commitments
on
Since implementation day of reform
program previous non-circulating
Shenzhen Guosheng shares couldn’t be listed or
Energy Development transferred within 12 months; if the
Co., Ltd, Zhuorun period was ending, proportion of
Commitments for Technology Co., Ltd, sale volume in total shares couldn’t Abided the
Share Merger Reform Shenzhen Kangsheng be beyond 5% within 12 months and commitments
Investment Co., Ltd, 10% within 24 months as for those
Jingchao Investment previous non-circulating
Co., Ltd shareholders holding more than 5%
equity listed their shares through
Stock Exchange.
Commitments in report of
N/A N/A N/A
acquisition or equity change
Commitment for substantive N/A N/A N/A
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Shenzhen China Bicycle Company (Holdings) Limited The Third Quarterly Report for 2011 (Full Text)
asset restructuring
Issuance commitment N/A N/A N/A
Other
commitments(additional N/A N/A N/A
commitments included)
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
3.5 Particulars about the other significant events which needed explanations
3.5.1 Particular about security investment
□Applicable √Inapplicable
3.5.2 Activities on receiving research, communication and interview in the report period
The received Contents discussed and
Date Place Way
parties materials supplied
In report Office of the Communications Tradable Progresses of debts
period Company by telephone shareholder restructuring of the Company
3.6 Particulars about derivatives investment
□Applicable √Inapplicable
3.6.1 Particulars about the positions of derivatives investment at the end of report period
□Applicable √Inapplicable
§4. Appendix
4.1 Balance sheet
Prepared by Shenzhen China Bicycle Company (Holdings) Limited
Sept. 30, 2011 In RMB Yuan
Balance at period-end Balance at year-begin
Items
Consolidation Parent Company Consolidation Parent Company
Current assets:
Monetary funds 21,587,366.03 515,850.01 17,756,773.58 498,624.71
Settlement
provisions
Capital lent
Transaction finance
asset
Notes receivable 2,100,000.00 2,619,699.00
Accounts receivable 1,123,229.59 864,721.48 1,732,822.98 1,384,353.23
Accounts paid in
387,022.08 213,423.41
advance
Insurance receivable
Reinsurance
receivables
Contract reserve of
reinsurance receivable
Interest receivable
Dividend receivable
Other receivables 18,699,493.05 35,134,361.64 18,085,772.89 30,529,810.28
Purchase restituted
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Shenzhen China Bicycle Company (Holdings) Limited The Third Quarterly Report for 2011 (Full Text)
finance asset
Inventories 49,561,626.27 14,153,392.60 21,692,678.29 14,965,196.51
Non-current asset
due within one year
Other current assets
Total current assets 93,458,737.02 50,668,325.73 62,101,170.15 47,377,984.73
Non-current assets:
Granted entrusted
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 real
23,289,920.02 23,289,920.02 26,434,648.24 26,434,648.24
estate
Fixed assets 17,609,854.00 17,307,066.42 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 24,807,280.73 24,807,280.73 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 68,326,895.25 68,024,107.67 76,056,908.74 75,730,878.11
Total assets 161,785,632.27 118,692,433.40 138,158,078.89 123,108,862.84
Current liabilities:
Short-term loans 375,784,050.36 323,583,663.34 384,217,648.09 332,017,261.07
Loan from central
bank
Absorbing deposit
and interbank deposit
Capital borrowed
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Shenzhen China Bicycle Company (Holdings) Limited The Third Quarterly Report for 2011 (Full Text)
Transaction
financial liabilities
Notes payable
Accounts payable 144,184,969.19 148,512,046.04 125,628,122.72 148,454,726.88
Accounts received
28,900,801.83 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 3,003,403.68 1,889,154.34 3,802,240.39 2,372,320.02
Taxes payable 95,226,881.05 94,961,788.30 98,218,863.73 95,784,336.55
Interest payable 200,760,932.04 200,760,932.04 213,488,233.36 213,488,233.36
Dividend payable
Other accounts
398,738,926.45 353,788,651.95 165,837,025.40 120,844,911.76
payable
Reinsurance
payables
Insurance contract
reserve
Security trading of
agency
Security sales of
agency
Non-current
liabilities due within 1 457,147,983.82 457,147,983.82 706,645,180.86 706,645,180.86
year
Other current
754,812.09 726,612.09 756,162.09 726,612.09
liabilities
Total current liabilities 1,704,502,760.51 1,592,035,424.77 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 166,212,952.92 166,212,952.92 179,088,442.92 179,088,442.92
Deferred income tax
liabilities
Other non-current
liabilities
Total non-current
166,212,952.92 166,212,952.92 179,088,442.92 179,088,442.92
liabilities
Total liabilities 1,870,715,713.43 1,758,248,377.69 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)
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Shenzhen China Bicycle Company (Holdings) Limited The Third Quarterly Report for 2011 (Full Text)
Capital public
452,505,058.15 452,505,058.15 427,132,693.91 427,132,693.91
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 -2,745,456,313.32 -2,676,082,176.45 -2,767,339,310.79 -2,698,131,623.44
Balance difference
of foreign currency
translation
Total owner’s equity
attributable to parent -1,708,930,081.16 -1,639,555,944.29 -1,756,185,442.87 -1,686,977,755.52
company
Minority interests
Total owner’s equity -1,708,930,081.16 -1,639,555,944.29 -1,756,185,442.87 -1,686,977,755.52
Total liabilities and
161,785,632.27 118,692,433.40 138,158,078.89 123,108,862.84
owner’s equity
4.2 Profit statement in the report period
Prepared by Shenzhen China Bicycle Company (Holdings) Limited July-Sept. 2011 In RMB Yuan
Amount in this period Amount in last period
Items
Consolidation Parent Company Consolidation Parent Company
I. Total operating income 94,585,408.71 7,762,307.50 99,681,222.94 8,760,291.18
Including: Operating
94,585,408.71 7,762,307.50 99,681,222.94 8,760,291.18
income
Interest income
Insurance gained
Commission charge
and commission income
II. Total operating cost 98,803,541.53 12,539,825.57 112,475,486.45 20,130,481.21
Including: Operating cost 87,994,118.59 3,967,487.95 93,083,590.36 2,904,697.21
Interest expense
Commission charge
and commission expense
Cash surrender
value
Net amount of
expense of compensation
Net amount of
withdrawal of insurance
contract reserve
Bonus expense of
guarantee slip
Reinsurance
expense
Operating tax and
144,851.04 52,036.39
extras
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Shenzhen China Bicycle Company (Holdings) Limited The Third Quarterly Report for 2011 (Full Text)
Sales expenses 1,545,634.13 4,494,611.95 1,422,282.34
Administration
5,057,987.40 4,077,725.67 5,033,099.19 4,325,803.69
expenses
Financial expenses 4,060,950.37 12,889,478.17 12,904,980.31
Losses of
-5,000.00 -5,000.00
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
-4,218,132.82 -4,777,518.07 -12,794,263.51 -11,370,190.03
(Loss is listed with “-”)
Add: Non-operating
89,639.90 52,539.90 3,075,150.11 3,075,150.11
income
Less: Non-operating
201,565.00 201,565.00 13,050.00 50.00
expense
Including: Disposal
loss of non-current asset
IV. Total Profit (Loss is
-4,330,057.92 -4,926,543.17 -9,732,163.40 -8,295,089.92
listed with “-”)
Less: Income tax
expense
V. Net profit (Net loss is
-4,330,057.92 -4,926,543.17 -9,732,163.40 -8,295,089.92
listed with “-”)
Net profit
attributable to owner’s of -4,330,057.92 -4,926,543.17 -9,676,290.03 -8,295,089.92
parent company
Minority
shareholders’ gains and -55,873.37
losses
VI. Earnings per share
i. Basic earnings per
-0.0079 -0.0089 -0.0176 -0.0150
share
ii. Diluted earnings per
-0.0079 -0.0089 -0.0176 -0.0150
share
VII. Other consolidated
income
VIII. Total consolidated
-4,330,057.92 -4,926,543.17 -9,732,163.40 -8,295,089.92
income
Total consolidated
income attributable to -4,330,057.92 -4,926,543.17 -9,676,290.03 -8,295,089.92
owners of parent
11
Shenzhen China Bicycle Company (Holdings) Limited The Third Quarterly Report for 2011 (Full Text)
company
Total consolidated
income attributable to 0.00 0.00 -55,873.37
minority shareholders
The merging party realized net profit of RMB 00.00 before consolidation under same control in this
period.
4.3 Profit statement from year-begin to the end of report period
Prepared by Shenzhen China Bicycle Company (Holdings) Limited
Jan.-Sept. 2011 In RMB Yuan
Amount in this period Amount in last period
Items
Consolidation Parent Company Consolidation Parent Company
I. Total operating income 231,123,003.96 19,203,398.33 220,304,009.08 16,786,439.47
Including: Operating
231,123,003.96 19,203,398.33 220,304,009.08 16,786,439.47
income
Interest income
Insurance gained
Commission
charge and commission
income
II. Total operating cost 256,930,510.68 44,807,355.53 285,530,242.40 80,032,902.09
Including: Operating cost 214,702,620.88 8,991,404.41 207,129,215.71 8,555,534.50
Interest expense
Commission charge
and commission expense
Cash surrender
value
Net amount of
expense of compensation
Net amount of
withdrawal of insurance
contract reserve
Bonus expense of
guarantee slip
Reinsurance
expense
Operating tax and
282,907.19 133,234.68
extras
Sales expenses 4,258,341.68 5,178,284.04
Administration
16,158,517.60 14,253,047.23 16,992,729.72 15,338,735.40
expenses
Financial expenses 20,906,323.68 20,941,104.24 56,101,778.25 56,143,632.19
Losses of
621,799.65 621,799.65 -5,000.00 -5,000.00
devaluation of asset
Add: Changing
income of fair value(Loss
is listed with “-”)
Investment income
(Loss is listed with “-”)
Including:
12
Shenzhen China Bicycle Company (Holdings) Limited The Third Quarterly Report for 2011 (Full Text)
Investment income on
affiliated company and
joint venture
Exchange income
(Loss is listed with “-”)
III. Operating profit
-25,807,506.72 -25,603,957.20 -65,226,233.32 -63,246,462.62
(Loss is listed with “-”)
Add: Non-operating
47,925,039.19 47,887,939.19 3,874,312.88 3,868,412.88
income
Less: Non-operating
234,535.00 234,535.00 43,730.00 17,050.00
expense
Including: Disposal
loss of non-current asset
IV. Total Profit (Loss is
21,882,997.47 22,049,446.99 -61,395,650.44 -59,395,099.74
listed with “-”)
Less: Income tax
expense
V. Net profit (Net loss is
21,882,997.47 22,049,446.99 -61,395,650.44 -59,395,099.74
listed with “-”)
Net profit
attributable to owner’s of 21,882,997.47 22,049,446.99 -61,395,650.44 -59,395,099.74
parent company
Minority
shareholders’ gains and
losses
VI. Earnings per share
i. Basic earnings per
0.0397 0.0400 -0.1114 -0.1077
share
ii. Diluted earnings per
0.0397 0.0400 -0.1114 -0.1077
share
VII. Other consolidated
income
VIII. Total consolidated
21,882,997.47 22,049,446.99 -61,395,650.44 -59,395,099.74
income
Total consolidated
income attributable to
21,882,997.47 22,049,446.99 -61,395,650.44 -59,395,099.74
owners of parent
company
Total consolidated
income attributable to
minority shareholders
The merging party realized net profit of RMB 00.00 before consolidation under same control that
occurred from year-begin to end of this period.
4.4 Cash flow statement from year-begin to the end of report period
Prepared by Shenzhen China Bicycle Company (Holdings) Limited
Jan.-Sept. 2011 In RMB Yuan
Amount in this period Amount in last period
Items
Consolidation Parent Company Consolidation Parent Company
13
Shenzhen China Bicycle Company (Holdings) Limited The Third Quarterly Report for 2011 (Full Text)
I. Cash flows arising
from operating activities:
Cash received from
selling commodities and 148,757,594.21 5,550.00 140,857,230.38
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
Net increase of
capital borrowed
Net increase of
returned business capital
Write-back of tax
254,666.00 254,666.00
received
Other cash received
concerning operating 17,667,411.55 17,200,700.75 15,252,809.49 18,959,550.55
activities
Subtotal of cash
inflow arising from 166,425,005.76 17,206,250.75 156,364,705.87 19,214,216.55
operating activities
Cash paid for
purchasing commodities
133,255,608.57 117,785,046.37
and receiving labor
service
Net increase of
customer loans and
advances
Net increase of
deposits in central bank
14
Shenzhen China Bicycle Company (Holdings) Limited The Third Quarterly Report for 2011 (Full Text)
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
11,756,689.99 1,621,431.13 12,788,271.08 1,292,297.45
staff and workers
Taxes paid 6,478,226.69 2,975,854.20 3,327,212.02 1,685,141.42
Other cash paid
concerning operating 13,060,637.23 12,567,638.41 14,231,560.17 13,559,175.64
activities
Subtotal of cash
outflow arising from 164,551,162.48 17,164,923.74 148,132,089.64 16,536,614.51
operating activities
Net cash flows
arising from operating 1,873,843.28 41,327.01 8,232,616.23 2,677,602.04
activities
II. Cash flows arising
from investing activities:
Cash received from
recovering investment
Cash received from
investment income
Net cash received
from disposal of fixed,
2,017,500.00
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 2,017,500.00
activities
Cash paid for
purchasing fixed,
60,750.83 24,101.71 2,460,204.37 2,450,627.02
intangible and other
long-term assets
Cash paid for
investment
Net increase of
mortgaged loans
15
Shenzhen China Bicycle Company (Holdings) Limited The Third Quarterly Report for 2011 (Full Text)
Net cash received
from subsidiaries and
other units
Other cash paid
concerning investing
activities
Subtotal of cash
outflow from investing 60,750.83 24,101.71 2,460,204.37 2,450,627.02
activities
Net cash flows
arising from investing 1,956,749.17 -24,101.71 -2,460,204.37 -2,450,627.02
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
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
16
Shenzhen China Bicycle Company (Holdings) Limited The Third Quarterly Report for 2011 (Full Text)
activities
IV. Influence on cash and
cash equivalents due to
fluctuation in exchange
rate
V. Net increase of cash
3,830,592.45 17,225.30 5,772,411.86 226,975.02
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 21,587,366.03 515,850.01 28,004,836.93 592,096.08
period -end
4.5 Auditor’s report
Auditor’s opinions: Un-audited
Board of Directors of
Shenzhen China Bicycle Company (Holdings) Limited
October 26, 2011
17
