Stock code: 000017, 200017 Notice No.: 2022-005
short form of the stock: Zhonghua-A, Zhonghua-B
Shenzhen China Bicycle Company (Holdings) Limited
The First Quarterly Report of 2022
The Company and whole members of the BOD guarantee that the information disclosed is true, accurate
and complete, and there are no any fictitious records, misleading statements or important omissions.
Important content reminder:
1. Board of Directors, Supervisory Committee, all directors, supervisors and senior executives of
Shenzhen China Bicycle Company (Holdings) Limited (hereinafter referred to as the Company)
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.
2. Principal of the Company, Person in Charge of Accounting Works and Person in Charge of
Accounting Organ (Accounting Officer) hereby confirm that the Financial Report of the First
Quarterly Report is authentic, accurate and complete.
3. Whether the First Quarterly Report has been audited or not
□Yes √No
I. Main financial data
(i) Main accounting data and financial indexes
Whether it has retroactive adjustment or re-statement on previous accounting data or not
□Yes √No
Changes of this period over
Current Period Same period of last year
same period of last year
Operating income (RMB) 50,246,951.40 23,163,329.56 116.92%
Net profit attributable to shareholders of
-903,991.16 -211,535.36 -327.35%
the listed company (RMB)
Net profit attributable to shareholders of
the listed company after deducting -1,190,923.81 -211,535.36 -462.99%
non-recurring gains and losses (RMB)
Net cash flow arising from operating
-8,930,326.51 1,399,162.83 -738.26%
activities (RMB)
Basic earnings per share (RMB/Share) -0.0016 -0.0004 -300.00%
Diluted earnings per share (RMB/Share) -0.0016 -0.0004 -300.00%
Weighted average ROE -10.68% -1.96% -8.72%
Changes of this period-end
End of this period End of last period over same period-end of last
year
Total assets (RMB) 101,914,520.44 97,363,437.22 4.67%
1
Owners’ equity attributable to shareholders
8,014,547.00 8,918,538.16 -10.14%
of listed company (RMB)
(ii) Items and amounts of non-recurring profit (gains)/losses
√ Applicable □ Not applicable
Unit: RMB/CNY
Item Current amount Note
Governmental subsidy calculated into current gains and
losses(while closely related with the normal business of the
Company, the government subsidy that accord with the provision 103,369.17
of national policies and are continuously enjoyed in line with a
certain standard quota or quantity are excluded)
Reversal of the account receivable depreciation reserves subject
60,000.00
to separate impairment test
Other non-operating income and expenses other than the above 221,131.50
Less: impact on income tax 3,316.97
Impact on minority shareholders’ equity (post-tax) 94,251.05
Total 286,932.65 --
Other gain/loss items that qualified the definition of non-recurring profit (gains)/losses:
□ Applicable √ Not applicable
The Company does not have other gain/loss items that qualified the definition of non-recurring profit (gains)/losses
Explanation on those non-recurring gain/loss listed in the “Q&A Announcement No.1 on Information Disclosure for Companies
Offering Their Securities to the Public --- Extraordinary Profit/loss” defined as recurring gain/loss
□ Applicable √ Not applicable
The Company does not have the non-recurring gain/loss listed in the “Q&A Announcement No.1 on Information Disclosure for
Companies Offering Their Securities to the Public --- Extraordinary Profit/loss” defined as recurring gain/loss
(iii) Particulars about changes in items of main accounting data and financial index and explanations of
reasons
√ Applicable □Not applicable
Period-end/current Period-begin/last
Item Y-o-y changes (+,-) Cause of change
period period
24,173,752.51 33,246,957.92 -27.29% Purchase of jewelry and gold by
Monetary fund
subsidiary
2,670,412.70 1,300,408.57 105.35% The account paid in advance for
Account paid in advance
lithium battery materials increased
19,655,197.38 8,248,573.77 138.29% The inventory of jewelry and gold
Inventory
increased from the subsidiary
3,222,011.94 1,814,200.53 77.60% The item of input to be deducted by
Other current assets
subsidiary increased
14,462,510.97 8,297,306.34 74.30% Payments to suppliers during the
Account payable
period
50,246,951.40 23,163,329.56 116.92% Income from jewelry and gold
Operation revenue
business increased
2
47,249,406.26 20,752,454.71 127.68% Costs of the jewelry and gold
Operation cost
business increased
1,251,815.38 425,618.74 194.12% Expenses increased due to the growth
Sales expenses
of income
R&D expenses 1,215,439.84 856,296.32 41.94% Expenses on R&D increased
Net cash flow arising from -8,930,326.51 1,399,162.83 -738.26% Purchase of jewelry and gold by
operation activities subsidiary
II. Shareholders
(i) Total number of common shareholders and preference shareholders with voting rights recovered and
top ten shareholders
Unit: Share
Total preference shareholders
Total number of common
with voting rights recovered at
shareholders at the end of report 40,730 0
end of reporting period (if
period
applicable)
Top ten shareholders
Amount of Information of shares pledged,
Shareholder’s Nature of Proportion of Amount of shares
lock-up shares tagged or frozen
name shareholder shares held held
held State of share Amount
Shenzhen
Guosheng Energy Domestic
Investment non-state-owned 11.52% 63,508,747 0 - -
Development legal person
Co., Ltd.
UOB Koy Hian
Foreign legal
(Hong Kong) 2.89% 15,907,850 0 - -
person
Co., Ltd.
Guosen Securities
(Hong Kong) Foreign legal
2.52% 13,909,425 0 - -
brokerage Co., person
Ltd.
Shenwan
Hongyuan Foreign legal
1.50% 8,281,156 0 - -
Securities (Hong person
Kong) Co., Ltd.
Lhasa Xingqing
Domestic
Network
non-state-owned 0.83% 4,600,255 0 - -
Technology Co.,
legal person
Ltd.
3
Domestic nature
Li Huili 0.71% 3,891,124 0 - -
person
Domestic nature
Ge Zhiqiong 0.56% 3,112,052 0 - -
person
Domestic nature
Xu Hongbo 0.53% 2,927,319 0 - -
person
China Merchants
State-owned legal
Securities Hong 0.52% 2,894,135 0 - -
person
Kong Co., Ltd.
Shenzhen China
Bicycle Company
(Holdings)
Domestic
Limited -Special
non-state-owned 0.47% 2,602,402 0 - -
account for
legal person
property disposal
of bankrupt
enterprise
Top ten shareholders with unrestricted shares held
Type of shares
Shareholder’s name Amount of unrestricted shares held
Type Amount
Shenzhen Guosheng Energy RMB common
63,508,747 63,508,747
Investment Development Co., Ltd. shares
Domestically
UOB Koy Hian (Hong Kong) Co.,
15,907,850 listed foreign 15,907,850
Ltd.
shares
Domestically
Guosen Securities (Hong Kong)
13,909,425 listed foreign 13,909,425
brokerage Co., Ltd.
shares
Domestically
Shenwan Hongyuan Securities
8,281,156 listed foreign 8,281,156
(Hong Kong) Co., Ltd.
shares
Lhasa Xingqing Network RMB common
4,600,255 4,600,255
Technology Co., Ltd. shares
Domestically
Li Huili 3,891,124 listed foreign 3,891,124
shares
RMB common
198,400
shares
Ge Zhiqiong 3,112,052
Domestically
2,913,652
listed foreign
4
shares
Domestically
Xu Hongbo 2,927,319 listed foreign 2,927,319
shares
Domestically
China Merchants Securities Hong
2,894,135 listed foreign 2,894,135
Kong Co., Ltd.
shares
RMB common
Shenzhen China Bicycle Company 1,383,313
shares
(Holdings) Limited -Special account
2,602,402 Domestically
for property disposal of bankrupt
listed foreign 1,219,089
enterprise
shares
Li Huili, spouse of the Ji Hanfei, the actual controller of he Company- Shenzhen Guosheng
Energy Investment Development Co., Ltd., holding B-share of the Company on behalf of
Explanation on associated
Shenzhen Guosheng Energy Investment Development Co., Ltd., beyond that, the Company
relationship among the aforesaid
has no idea of whether other circulated shareholders belong to concerted action persons ruled
shareholders
in the Administration Norms for Information Disclosure of Change on Shareholding of
Shareholders of Listed Companies.
Explanation on top 10 shareholders
involving margin business (if N/A
applicable)
(ii) Total shareholders with preferred stock held and shares held by top ten shareholders with preferred
stock held
□ Applicable √ Not applicable
III. Other important matters
√Applicable □Not applicable
1. Planning for non-public offering of shares
On December 30, 2020, the company held the third extraordinary general meeting of shareholders in 2020, reviewed and approved
the new plan for non-public issuance of A shares, and planned to raise funds from Wansheng Industry Company through non-public
issuance of shares of total amount not exceeding 293.6 million yuan, which would be used to replenish working capital after
deducting the issuance expenses, and this issuance will lead to changes in the company’s control. On October 25, 2021, the
company’s application for the non-public issuance of A shares was reviewed and approved by the Issuance Examination Commission
of the China Securities Regulatory Commission (hereinafter referred to as the CSRC). On November 11, 2021, the company received
the Approval for the Non-public Issuance of Shares by Shenzhen China Bicycle (Group) Co., Ltd. (ZJXK [2021] No. 3552) issued by
the CSRC, and the validity period of the approval is 12 months from the date of approval for the issuance. Relevant work is currently
in progress.
2. About the company litigation matters
On February 23, 2022, the company received the Subpoena (2022) Yue 0303 Min Chu No. 3787, Complaint, Notice of Response,
Civil Ruling Paper (2020) Yue 0303 Zhi Bao No. 498 and other legal documents from Shenzhen Luohu District People’s Court,
which has accepted the lawsuit brought by the plaintiff Shenzhen Jianzhi Industrial Development Co., Ltd. against the company on
5
the grounds of “joint venture and cooperative development of real estate contract disputes”, the amount involved was 30.859 million
yuan. On March 12, 2022, the company received a notice from the Shenzhen Luohu District People’s Court that the court trial
originally scheduled for March 18, 2022 has been rescheduled due to the pandemic, and the specific trial time will be notified later.
As of the date of this announcement, the company has not received the notice from the Luohu Court, and the matter has not yet been
heard. The company will actively respond to the lawsuit, safeguard the interests of the company and all shareholders through legal
means. According to the Analysis of Jianzhi Company sued CBC issued by Guangdong Asia Laws Firm on March 28, 2022, the
evidence submitted by Jianzhi Company could not support its litigation request, and the CBC had completed the conditions of the
return revenue as agreed in the Cooperation Contract, termination of the Contract was in accordance with the legal provision. The
CBC believes that they has completed part of the works agreed in Cooperation Contract, and should get 6 million yuan as agreed in
the Contract. Currently, the Company has filed a counter-suit against Shenzhen Jianzhi Industrial Development Co., Ltd for payment
of 6 million yuan in return proceeds from the project. The Company will perform the corresponding information disclosure
obligations in a timely manner according to the progress of the lawsuit. Investors are advised to pay attention to investment risks.
IV. Quarterly financial statements
(i) Financial statement
1. Consolidate Balance Sheet
Prepared by Shenzhen China Bicycle Company (Holdings) Limited
March 31, 2022
Unit: RMB/CNY
Item Ending balance Opening balance
Current assets:
Monetary fund 24,173,752.51 33,246,957.92
Settlement provisions
Capital lent
Trading financial assets
Derivative financial assets
Note receivable
Account receivable 46,242,685.55 46,850,083.59
Receivable financing
Account paid in advance 2,670,412.70 1,300,408.57
Insurance receivable
Reinsurance receivables
Contract reserve of reinsurance
receivable
Other account receivable 740,422.93 494,695.27
Including: Interest receivable
Dividend receivable
Buying back the sale of financial
assets
Inventory 19,655,197.38 8,248,573.77
Contract assets
Assets held for sale
Non-current asset due within one
year
Other current assets 3,222,011.94 1,814,200.53
6
Total current assets 96,704,483.01 91,954,919.65
Non-current assets:
Loans and payments on behalf
Debt investment
Other debt investment
Long-term account receivable
Long-term equity investment
Investment in other equity
instrument
Other non-current financial assets
Investment real estate
Fixed assets 3,358,563.88 3,439,212.00
Construction in progress
Productive biological asset
Oil and gas asset
Right-of-use assets 1,387,426.88 1,505,258.90
Intangible assets
Expense on research and
development
Goodwill
Long-term expenses to be
apportioned
Deferred income tax asset 64,046.67 64,046.67
Other non-current assets 400,000.00 400,000.00
Total non-current asset 5,210,037.43 5,408,517.57
Total assets 101,914,520.44 97,363,437.22
Current liabilities:
Short-term loans
Loan from central bank
Capital borrowed
Trading financial liability
Derivative financial liability
Note payable
Account payable 14,462,510.97 8,297,306.34
Accounts received in advance
Contract liabilities 589,518.63 124,328.07
Selling financial asset of
repurchase
Absorbing deposit and interbank
deposit
Security trading of agency
Security sales of agency
Wage payable 910,492.99 923,477.10
Taxes payable 734,270.18 911,506.52
Other account payable 60,358,930.43 61,407,301.04
Including: Interest payable
Dividend payable
Commission charge and
7
commission payable
Reinsurance payable
Liability held for sale
Non-current liabilities due within
1,483,130.07 1,456,782.04
one year
Other current liabilities 11,700.06 11,700.06
Total current liabilities 78,550,553.33 73,132,401.17
Non-current liabilities:
Insurance contract reserve
Long-term loans
Bonds payable
Including: Preferred stock
Perpetual capital
securities
Lease liability 86,293.59 228,302.37
Long-term account payable
Long-term wages payable
Accrual liability
Deferred income
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 86,293.59 228,302.37
Total liabilities 78,636,846.92 73,360,703.54
Owner’s equity:
Share capital 551,347,947.00 551,347,947.00
Other equity instrument
Including: Preferred stock
Perpetual capital
securities
Capital public reserve 627,834,297.85 627,834,297.85
Less: Treasury shares
Other comprehensive income
Reasonable reserve
Surplus public reserve 32,673,227.01 32,673,227.01
Provision of general risk
Retained profit -1,203,840,924.86 -1,202,936,933.70
Total owner’ s equity attributable to
8,014,547.00 8,918,538.16
parent company
Minority interests 15,263,126.52 15,084,195.52
Total owner’ s equity 23,277,673.52 24,002,733.68
Total liabilities and owner’ s equity 101,914,520.44 97,363,437.22
Legal Representative: Li Hai
Person in charge of Accounting Works: Sun Longlong
Person in charge of Accounting Institution: Zhong Xiaojin
8
2. Consolidated Profit Statement
Unit: RMB/CNY
Item Current period Last period
I. Total operating income 50,246,951.40 23,163,329.56
Including: Operating income 50,246,951.40 23,163,329.56
Interest income
Insurance gained
Commission charge and
commission income
II. Total operating cost 51,348,242.22 23,368,934.41
Including: Operating cost 47,249,406.26 20,752,454.71
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
Tax and extras 35,537.87 30,648.14
Sales expense 1,251,815.38 425,618.74
Administrative expense 1,603,942.40 1,328,263.03
R&D expense 1,215,439.84 856,296.32
Financial expenses -7,899.53 -24,346.53
Including: Interest
expenses
Interest income 20,245.44 35,896.85
Add: other income 103,369.17 2,516.00
Investment income (Loss is
listed with “-”)
Including: Investment income
on affiliated company and joint venture
The termination of income
recognition for financial assets measured
by amortized cost
Exchange income (Loss is
listed with “-”)
Net exposure hedging income
(Loss is listed with “-”)
Income from change of fair
value (Loss is listed with “-”)
Loss of credit impairment
60,000.00 468.00
(Loss is listed with “-”)
Losses of devaluation of asset
(Loss is listed with “-”)
Income from assets disposal
(Loss is listed with “-”)
III. Operating profit (Loss is listed with -937,921.65 -202,620.85
9
“-”)
Add: Non-operating income 221,131.50
Less: Non-operating expense
IV. Total profit (Loss is listed with “-”) -716,790.15 -202,620.85
Less: Income tax expense 8,270.01 8,863.55
V. Net profit (Net loss is listed with “-”) -725,060.16 -211,484.40
(i) Classify by business continuity
1. Net profit from continuing
-725,060.16 -211,484.40
operations (net loss listed with “-”)
2. Net profit from termination of
operations (net loss listed with “-”)
(ii) Classify by ownership
1.Net profit attributable to owner’s
-903,991.16 -211,535.36
of parent company
2.Minority shareholders’ gains and
178,931.00 50.96
losses
VI. Net after-tax of other comprehensive
income
Net after-tax of other comprehensive
income attributable to owners of parent
company
(i) Other comprehensive income
items which will not be reclassified
subsequently to profit of loss
1.Changes of the defined
benefit plans that re-measured
2.Other comprehensive
income under equity method that cannot
be transfer to gain/loss
3.Change of fair value of
investment in other equity instrument
4.Fair value change of
enterprise's credit risk
5. Other
(ii) Other comprehensive income
items which will be reclassified
subsequently to profit or loss
1.Other comprehensive
income under equity method that can
transfer to gain/loss
2.Change of fair value of
other debt investment
3.Amount of financial assets
re-classify to other comprehensive
income
4.Credit impairment
provision for other debt investment
5.Cash flow hedging reserve
6.Translation differences
arising on translation of foreign currency
financial statements
7.Other
Net after-tax of other comprehensive
income attributable to minority
10
shareholders
VII. Total comprehensive income -725,060.16 -211,484.40
Total comprehensive income
-903,991.16 -211,535.36
attributable to owners of parent Company
Total comprehensive income
178,931.00 50.96
attributable to minority shareholders
VIII. Earnings per share:
(i) Basic earnings per share -0.0016 -0.0004
(ii) Diluted earnings per share -0.0016 -0.0004
Enterprise combine under the same control in the Period, the combined party realized net profit of 0.00 Yuan before combination, and
realized 0.00 Yuan at last period for combined party
Legal Representative: Li Hai
Person in charge of Accounting Works: Sun Longlong
Person in charge of Accounting Institution: Zhong Xiaojin
3. Consolidated Cash Flow Statement
Unit: RMB/CNY
Item Current period Last period
I. Cash flows arising from operating
activities:
Cash received from selling
commodities and providing labor 55,844,910.44 31,191,247.05
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
Cash received from interest,
commission charge and commission
Net increase of capital borrowed
Net increase of returned business
capital
Net cash received by agents in sale
and purchase of securities
Write-back of tax received 3,529.86 2,652.02
Other cash received concerning
7,532,827.46 7,188,346.22
operating activities
Subtotal of cash inflow arising from
63,381,267.76 38,382,245.29
operating activities
Cash paid for purchasing
commodities and receiving labor 60,349,320.00 28,648,220.66
service
11
Net increase of customer loans and
advances
Net increase of deposits in central
bank and interbank
Cash paid for original insurance
contract compensation
Net increase of capital lent
Cash paid for interest, commission
charge and commission
Cash paid for bonus of guarantee
slip
Cash paid to/for staff and workers 2,086,036.96 2,644,266.76
Taxes paid 431,259.14 335,366.77
Other cash paid concerning
9,444,978.17 5,355,228.27
operating activities
Subtotal of cash outflow arising from
72,311,594.27 36,983,082.46
operating activities
Net cash flows arising from operating
-8,930,326.51 1,399,162.83
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, 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,
5,957.99
intangible and other long-term assets
Cash paid for investment
Net increase of mortgaged loans
Net cash received from
subsidiaries and other units obtained
Other cash paid concerning
investing activities
Subtotal of cash outflow from investing
5,957.99
activities
Net cash flows arising from investing
-5,957.99
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
12
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
142,878.90
financing activities
Subtotal of cash outflow from financing
142,878.90
activities
Net cash flows arising from financing
-142,878.90
activities
IV. Influence on cash and cash
equivalents due to fluctuation in
exchange rate
V. Net increase of cash and cash
-9,073,205.41 1,393,204.84
equivalents
Add: Balance of cash and cash
33,246,957.92 19,887,978.05
equivalents at the period-begin
VI. Balance of cash and cash
24,173,752.51 21,281,182.89
equivalents at the period-end
(ii) Audit report
Whether the 1st quarterly report has been audited or not
□Yes √ No
The 1st quarterly report of the Company has not been audited.
Board of Directors of
Shenzhen China Bicycle Company (Holdings) Limited
April 28, 2022
13
